11/6/19 The Highlight
Need evidence to convince your boss to give you a 3-day weekend? Microsoft has your back.
The company tested a four-day workweek to improve worker productivity in its Japanese division. The company gave its 2,300 workers Fridays off in August without a salary change.
The findings? Average employee sales increased a whopping 40 percent, in addition to a 23 percent decline in electricity expenses and a 59 percent decline in paper printing.
Although we can’t change what your boss has to say about this, there is one thing you can depend on – our weekly Highlight.
- Looking for Work?: The number of job openings in the U.S. fell in September, according to the Labor Department on Tuesday. Job openings hit its lowest level in 18 months to just over 7 million. Luckily for workers, job vacancies still outnumbered those looking for work by 1.2 million.
- Silicon Valley Housing Crisis: The presence of big tech companies in Silicon Valley has had a notably devastating effect on affordable housing in the region. Apple is hoping to take a bite out of the problem by pledging $2.5 billion to the Bay Area. The new plan contributes $1 billion to an affordable housing investment fund, with the rest being used to help first-time homebuyers find mortgages.
- Dow Sets New Record High: The Dow Jones Industrial hit a new all-time high on Monday, as the stock market rally has continued for the fifth straight week. Partially boosting markets was news that US services companies’ growth rebounded in October. Service businesses represent two-thirds of the U.S. economy.
- Under Armour Under Investigation: The SEC and the Justice Department have announced a Federal Investigation into the company’s accounting practices. According to the Wall Street Journal, Federal authorities are investigating whether the sportswear company shifted sales from quarter to quarter to appear healthier. The news comes just two weeks after company founder and CEO Kevin Plank announced his resignation.
- Uber is Burning Cash: The ride-hailing company can’t seem to catch a break after going public this year. Uber reported a third-quarter earnings miss on Monday and posted more than a $1 billion loss. The company’s shares are trading around $29, well below its $45 IPO price.
- McDonalds CEO Fired: Arguably the most powerful man in the restaurant business, McDonalds CEO Steve Easterbrook has been fired over a relationship with an employee, violating company policy. Easterbrook will receive six months of severance pay and will be replaced by Chris Kempczinski.
Alternative Investing News
- Bitcoin Manipulation: A new research report from the University of Texas professor, John Griffin, alleges Bitcoin’s massive runup in 2017 was a result of manipulation by a single market player. According to the report, one entity on the cryptocurrency exchange Bitfinex was capable of sending the price of Bitcoin higher when it fell below certain thresholds.
- Helping Young People Build Credit: Deserve, a credit card startup aimed at helping young people establish themselves, has raised $50 million in a Series C funding round led by Goldman Sachs. The company helps consumers quickly apply for credit from their phones and get approved in minutes. According to TechCrunch, those born after 1995 make up only 5 percent of U.S. consumers who carry credit card debt.
- Multifamily or Bust: The benefits of investing in multifamily are countless. The property type is resilient in times of recession, carries a low risk profile, has high demand, and has the potential (and track record) for high returns. Read Why Our Investment Focus is on Multifamily Real Estate.
- Justworks HR x DiversyFund: Saving and investing is a different journey for everyone. We partnered Justworks HR (we’re day 3!) on this free short course aimed at helping you hit your short and long term financial goals. Whether you’re just starting out, looking to brush up on basics, or paying off debt. Sign up for ‘Saving and Investing 101′ today and the course will be emailed directly to your inbox each morning.
- Cash(flow) is King: Cash flow is huge when it comes to investing in real estate. At DiversyFund, investors see dividends monthly from cash flow from rents collected. Learn more about its importance and see why we only invest in cash flow positive properties in our fund. Read Cash Flow is King.