Saturday, September 18, 2010

"Meet the Fastest Growing Company Ever" from Forbes.com

A graduate from Northwestern, Andrew Mason formed a company called Groupon.  This is the fastest growing company in web history.  The name is a combination of the two words group and coupon.  This company buys advertising space from Google and Facebook.  They sign contracts with businesses looking to advertise and split the proceeds from the purchases 50/50.  These ads are brief usually running just one day.  Things such as event tickets or specials with a major price reduction to get consumers to act immediately.  The business is located inside an eight story building in Chicago.  Mason has 250 salespeople and 70 writers.  Most of these writers are comedians who come up with wild and crazy ideas that work.  In one and a half years, the firm is now worth 1.35 billion.  To me it is amazing how successful young people are these days especially in the technology area.  This young man was a music major and here he has built an empire in the world of advertising.  This reminds me a lot of record label companies or motion picture companies that basically make their money from sales of someone else's product.  Hiring comedians as writers is also genius.  I would like to meet this guy.

Tuesday, September 14, 2010

Being payed when not working!?!

     Hello y'all!  Hope this day finds you and your loved ones well.  What shall I share with you today?  How do you feel about this?  Stop working, receive money.  Sounds pretty cool huh?  There is just one catch.  You must be of retirement age.  Yes I am talking about social security.  It is celebrating it's 75th Anniversary.
     For years and years, the 401k people who came to visit myself and my co-workers have been saying that we need to invest for our retirement because Social Security will run out.  I recently read an article written by Katrina vanden Heuvel for thenation.com.  This article states that there will easily be enough money for several decades to come.  It is estimated that there will be a $4.3 trillion surplus by the year 2023.  President Obama, as we speak, is currently working on something all Democrats have supported throughout history, tax the rich.  This would keep the numbers on a much more positive note.
     The original S.S. plan had several major flaws.  It did not allow African Americans or immigrant workers a piece of the pie.  Such a proposal these days would be crushed immediately.  The Center on Budget and Policy Priorities reports, "Without S.S. benefits, over 45 percent of elderly Americans would have incomes below the poverty line."
     My personal views do show concern.  I am 46 years of age.  If the rich are taxed, it will surely secure social security for several more decades.  I do believe  in 401k and IRA programs.  If S.S. is still around throughout my elder years, these additional retirement accounts will leave that much more funding at my fingertips.  It is our responsibility to take care of ourselves, our elders, and our children.  What are your thoughts on this topic?  Have an awesome day!!!