Day: September 16, 2020

Has Business Left Milton Friedman Behind?

On September 13, 1970, the New York Times Magazine published an essay by the economist Milton Friedman titled “The Social Responsibility of Business is to Increase Its Profits.” It laid out what came to be known as the Friedman Doctrine — a call to arms for American free-market capitalism and arguably the most consequential economic idea, for better or worse, of the latter part of the 20th century.

Fifty years later, Mr. Friedman’s seminal essay continues to stoke debate among business leaders and policymakers — many of whom now seek to rebuke his view as leading to a generation of profiteering companies at the expense of society, exacerbating inequality.

Mr. Friedman was no mere economist; he was a kind of celebrity. He became a regular on the talk-show circuit. PBS even gave him a 10-part series. His economic theories still hold sway over large parts of corporate America — maybe

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House to investigate DeJoy’s possible campaign finance law violations

WASHINGTON (AP) — House Democrats said Tuesday they will investigate whether Postmaster General Louis DeJoy encouraged employees at his former business to contribute to Republican candidates and then reimbursed them in the guise of bonuses, a violation of campaign finance laws.

Five people who worked for DeJoy’s former company, New Breed Logistics, say they were urged by DeJoy’s aides or by DeJoy himself to write checks and attend fundraisers at his mansion in Greensboro, North Carolina, The Washington Post reported. Two former employees told the newspaper that DeJoy would later give bigger bonuses to reimburse for the contributions.

It’s not illegal to encourage employees to contribute to candidates, but it is illegal to reimburse them as a way of avoiding federal campaign contribution limits.

Rep. Carolyn Maloney, who chairs the House Oversight Committee, said in a statement Tuesday that if the allegations are true, “DeJoy could face criminal exposure —

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Interruption Insurance Isn’t Saving Anyone From Shutdowns

(Bloomberg) — To hear Century 21 Stores tell it, the New York retailer should have survived the pandemic because it had business interruption insurance. Instead, insurers refused to pay, and Century 21 is shutting down after almost 60 years in business.

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More than 1,000 companies have found themselves in the same predicament and have sued, with cases playing out across the U.S. and U.K. Insurers are arguing they don’t have to pay out on pandemic claims in part because the coronavirus didn’t damage property.

Their stance will be tested as new cases are filed by bigger businesses with the resources to wage long, sophisticated court battles where the stakes are much higher. Until recently, the typical lawsuit demanding insurance payments came from smaller companies that couldn’t sustain a fight, said Walter J. Andrews, who represents Ralph Lauren Corp. in its $700 million insurance case filed last month in

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Under 25? Here’s how you might get your own stimulus check money

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Find out if you’re eligible to get a stimulus check on your own, or if you are claimed as a dependent.


Angela Lang/CNET

At age 18, you’re old enough to vote, drive, serve in the military, go to college and hold a full-time job. Despite this, the vast majority of American young adults were not eligible to receive a coronavirus stimulus check when the first round of payments was approved in March. Unless a new stimulus bill is passed with different qualifications, young people may still not get their own check for up to $1,200.

In the first round of stimulus checks, an estimated 13 million young people aged 17 to 24 who were also claimed as dependents weren’t eligible for any stimulus money at all. That’s left many to question who in this group was eligible the first time, and how old you would have to be

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6 Personal Loans to Finance Your Bathroom Remodel

How much does a bathroom remodel cost?

The average cost for a midrange bathroom remodel is $21,377, according to Remodeling magazine’s 2020 Cost vs. Value report. A more extensive “upscale” project costs an average of $67,106.

Personal loans for bathroom remodels

  • Borrowers with good to excellent credit get the lowest rates. Annual percentage rates on personal loans range from 6% to 36%. The rate you receive depends primarily on your creditworthiness and financial situation. Borrowers with high credit scores (above 689 on the FICO scale) and low debt get the best rates.

  • Funding is fast. Some online lenders can fund your loan within a day or two. Having the required documents available — including proof of income like pay stubs and bank statements — can speed the process.

  • You get the money in one lump sum. You should have a solid estimate of your project’s cost to ensure you apply

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