Posts tagged with "Business"

Vaughn lowery illustrated by Allison Christensen for hair article

Know the Five Factors for Selecting a Forex Broker

When you get down to the business of choosing a forex broker, there’s a lot to think about. In fact, of the dozens of factors to consider, five stand out. They can make or break an informed person’s decision about what platform to choose for daily trading. Here are more details about each of the five criteria.

Reliability and Reputation

It’s true when you choose any product or service provider that the company’s reputation means a lot. So does its reliability, but reputation should come first on your research list. How do you learn about a forex brokerage’s reputation? Check out several of the top review sites and see what current and former customers think. You have to be a bit careful here because some of the sites are bogus. If you’re like most people, you already know of a few trusted places you can go for honest reviews. While reading through people’s comments, see what they have to say about reliability, namely the broker’s ability to execute trades on time and for the correct amount. Try to see what customers say about overall reliability and about specific topics like response to customer inquiries, resolution of problems that come up, and the amount of website downtime that occurs, if any.

Trading Conditions

The list of trading conditions that forex enthusiasts should look for include low or no minimum balances, comfortable trading leverage, low fees on transactions, and a lack of add-on charges and expenses. Why do you want and need these conditions? Because they allow you to do what you do without having to fork over a substantial sum of money. For instance, if transaction commissions are large, you’ll find yourself constantly struggling to make highly profitable trades just to eke out a minuscule profit. Unless you’re wildly successful, commissions can eat up your bottom line rather quickly. Minimum balances are not as bad, but who wants to sign on with a brokerage firm that requires a $1,000 account balance before you can begin buying and selling currency pairs? The answer is no one. 

Likewise, the best forex platforms will offer you a significant amount of leverage. That means your $50 investment might be able to control 20 or more times that amount on a given trade. Leverage is the most potent tool you have for making large profits on small investments. Before you sign on with a broker, make certain that you clearly understand how much leverage you’ll have from day one. And if the website isn’t upfront about the issue, email or call to find out.

Selection of Instruments

The term instruments in the world of investing refers to things like stocks, bonds, foreign exchange currency pairs, precious metals, options, futures, and more. Our focus is forex, so what we’ll be looking for is someone who allows us to choose from as many pairs as possible. At a minimum, you’ll want access to the majors, namely the following pairs: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD, and USD/CAD. The vast majority of daily volume takes place in the majors. Plus, from an individual’s point of view, these pairs are ideal instruments because they’re very easy to research, are often in the news, and have the highest liquidity of all.

Trading Platforms

Find out what platforms will be available to you. Some of the newer forex brokers only offer one, and that’s an in-house version that might not be suitable for your style of doing business. The good news is that many have versatile offerings that include the classic, best-known platforms. This is a key consideration because without an adaptable, versatile way to buy and sell, you might find yourself stuck in a rut. It’s usually simple enough to investigate this point just by visiting the main website.

Resources for Traders

Look for a provider who has extensive research, charting, news, and other resources. This point is especially vital for newcomers. Earning a profit in the markets is all about being informed and having the freshest information possible. Foreign exchange, more than any other trading instrument, is highly dependent on world news and current economic trends. If your information source is delayed even by an hour, your chance for profiting on a deal will decrease considerably.

Other resources include things like simulators, on which you can practice with fictitious money as you learn all the ins and outs of the order-placement systems. It’s also wise to check into whether you’ll have access to educational webinars and tutorials on important topics. Some providers offer extensive training for newcomers in addition to use of a simulator.

Mina Tocalini, 360 Magazine, Woman at Computer

What happens to the home and economy when women leave the workforce?

The pandemic-induced recession forced many women to drop out of the workforce, with research showing they were much more likely than men to give up jobs so they could take care of children when schools went online.

The consequences of these decisions may go beyond each individual, though. 

“They could have large repercussions for the economy, the home, and society as a whole, says Andi Simon (www.andisimon.com), a corporate anthropologist, founder of Simon Associates Management Consultants, and author of the upcoming book Rethink: Smashing the Myths of Women in Business.

Some ramifications of this 2020 exodus from the workforce for women could include:

  • A drop in consumer spending. When one spouse loses a job, whatever the reason might be, it means an immediate and sudden drop in income for that household. “The impact on household earnings will lead to reduced spending,” Simon says. “That will have ripple effects throughout the economy.”
  • An impact on women’s careers and advancement. Eventually, many of these women will no doubt go back to work, but how well they will be able to just pick up their careers where they left off could be another matter, Simon says. “Will they have lost ground in the line for promotions to men who didn’t take any time away from work?” she asks. “Also, depending on how slow the recovery is, rejoining the workforce might not be that quick and easy.”
  • A reduction in demand for family-related industries. When both spouses work outside the home, couples often need to make use of services that developed or grew because one adult – usually the woman – wasn’t around to take care of certain household duties. For households where a mother is now back in the home, that has changed. “They no longer need to pay someone for childcare services,” Simon says. “In addition, the need for house-cleaning services is likely to drop.”
  • Changes to retail markets. A woman who stays home with the kids has different needs than a woman who commutes to an office each day, and those differences could be reflected in the world of retail, Simon says. Just as an example, there could be a drop in demand for makeup. Sales of business attire for women may plummet – or at least take a hit as more casual, comfortable clothes become more important wardrobe necessities. Restaurants could continue to struggle as people eat out less and cook at home more.
  • Entrepreneurial urges could shift to home businesses. Some women could still keep their career mindsets and try to establish their own businesses run from their homes, Simons says. But she cautions that there are questions about just what those businesses might be since some potential areas – such as marketing, consulting, and business coaching – have seen a downshift in demand for their services. “That leaves you to wonder just how viable setting up a home business might be,” Simon says.

Despite all those concerns, some good can come out of this period as well for women who want a better life both personally and professionally, Simon says.

“If you’ve not been satisfied with your career and your life, this could be an opportunity to rethink and rewrite your personal story,” she says. “You need to imagine what you want to become, focus on how to make that possible, and then begin to take steps to make it happen.”

About Andi Simon

Andi Simon, Ph.D. (www.andisimon.com), author of the upcoming book Rethink: Smashing the Myths of Women in Business, is a corporate anthropologist and founder of Simon Associates Management Consultants (www.simonassociates.net). A trained practitioner in Blue Ocean Strategy®, Simon has conducted several hundred workshops and speeches on the topic as well as consulted with a wide range of clients across the globe. She also is the author of the award-winning book On the Brink: A Fresh Lens to Take Your Business to New Heights. Simon has a successful podcast, On the Brink with Andi Simon, that has more than 125,000 monthly listeners, and is ranked among the top 20 Futurist podcasts and top 200 business podcasts. In addition, Global Advisory Experts named Simons’ firm the Corporate Anthropology Consultancy Firm of the Year in New York – 2020. She has been on Good Morning, America and Bloomberg, and is widely published in the Washington Post, Los Angeles Times, Forbes, Business Week, Becker’s, and American Banker, among others. She has been a guest blogger for Forbes.com, Huffington Post, and Fierce Health.

Computer Scams illustration done by Mina Tocalini of 360 MAGAZINE.

5 Tips for Safe Online Holiday Shopping

By Stephanie Benoit-Kurtz, faculty chair for cybersecurity programs at University of Phoenix

Black Friday might look a little different this holiday season as companies opt to close their doors to shoppers and instead offer virtual options to help stop the spread of coronavirus. While doing so may help prevent illness, it puts consumers at greater risk for another threat ― cybercrime.

This time of year has always been the busiest for online shopping, which has grown exponentially during the past decade. And that was before this year’s coronavirus outbreak caused e-commerce sales to rocket further.1 It all adds up to malicious online criminals having many more opportunities to steal valuable personal information.

Online shopping, although convenient, can be problematic if appropriate security measures aren’t implemented. Identity theft, credit card fraud and malware are among the many safety threats consumers face.

It’s important to take steps to protect your personal information while shopping online this holiday season — and throughout the year. These safety measures can help protect your identity and prevent credit card theft.

  1. Ensure the company is PCI compliant

Payment Card Industry (PCI) compliance is directed by credit card companies to protect consumers. It mandates that a variety of standards be upheld to ensure secure credit card transactions. All organizations that accept credit cards must uphold the required standard.

If an organization is not PCI compliant, personally identifiable information is potentially at risk, either through a third-party seller or through the consumer’s computer or device because the end-point security necessary to shield the transaction is absent or inadequate.

If an error appears when you go to a business’s website indicating their PCI certificate is not secure or is expired, you should not conduct a transaction there. If you do, your personal information is at risk.

  1. Look for the lock

It is important that companies ensure the data you provide when making a purchase is encrypted. To determine whether an organization is using encryption, look for the lock symbol in the browser. This symbol indicates the website uses SSL, a data-transfer security standard that encrypts your data and ensures the server in use is authentic and secure.

Companies can go one step further with tokenization, which means they do not store, manage, maintain or transmit any credit card numbers in their completion anywhere. To determine a company’s security, look for this information published on their website. It should show what they are doing to secure their customers’ information from vulnerabilities related to personal identifiable data privacy.

  1. Firewall application software and active

Consider installing a firewall software application on your computer. If you already have the software, make sure it is turned on. While firewalls are generally used to prevent malicious cyberattacks coming from the outside, you should look for software that can protect your data in both directions — both incoming and outgoing data — to make sure the private information you provide when you make a purchase is secure.

  1. Antivirus or next-generation AI behavior-based antivirus

Antivirus software will help alert you if your network is victim of a malware attack. There are now more sophisticated next-generation apps that use artificial intelligence (AI) to learn about your consumer habits to better identify fraud. Consider installing AI behavior-based antivirus software before you start your holiday shopping online for an added layer of protection.

  1. Research the business

If you are purchasing from an online store that is new to you, be sure to do your due diligence before clicking “buy now.” Check for complaints made to the Better Business Bureau. Look at online reviews, checking specifically to see if there are challenges concerning refunds or processing cards. Visa and Mastercard have publicly available registries listing service providers that comply with rules and industry security standards.

Once you complete your transaction, it’s possible you will have no idea whether your online purchase has put your sensitive data at risk. It could be years before you know you’ve been a victim of cybercriminals. With the rise in online purchases and the biggest shopping season of the year nearing, it is a good time to do as much as you can to protect yourself.

About the Author

Stephanie Benoit-Kurtz is lead area faculty chair for cybersecurity programs at University of Phoenix Las Vegas Campus and director of cybersecurity at Stations Casinos in Las Vegas.

LaMelo Ball illustration by Kaelen Felix for 360 magazine

LaMelo Ball Joins PUMA

By Justin Lyons

LaMelo Ball, top 2020 NBA Draft prospect and younger brother of New Orleans Pelicans point guard Lonzo Ball, signed with the sports company PUMA for a long-term sponsorship deal.

Ball said he’s excited to join the PUMA family as he kicks off his basketball career.

“I believe the brand is the perfect partner for me because PUMA will allow me to just be myself. I want to be 100-percent authentic whether that’s playing basketball or showing off my personal style, and that’s what I want to do with PUMA,” Ball said.

The 6-foot-7-inch guard with elite passing skills opted out of college basketball in favor of professional contracts in Lithuania and Australia.

Adam Petrick, the global director of brand and marketing at PUMA, said Ball is a natural fit for PUMA because of his personal style and his “physical gifts and dynamic play on the court.”

“We are thrilled to add him to our roster of talented athletes, and at just 19 years old, we can’t wait to see his impact on the broader culture surrounding basketball,” Petrick said.

The first collaboration between the young phenom and PUMA will come in the form of a PUMA x LaMelo Ball T-shirt and hoodie set. The set will release Nov. 18, the same day as the 2020 NBA Draft where Ball is expected to go in the top five.

PUMA also intends to blur lines between sports, culture, music and fashion with its approach to the collaboration with Ball, which will likely be seen in the form of shirts, shoes and other apparel.

The partnership will follow PUMA’s “Not From Here” concept, something Ball cooked up himself to represent his unique attitude.

“I don’t know what normal is. I personally chose a different path to achieve my success because that defines who I am,” Ball said. “I know some people think I am mysterious or ‘not from here,’ and I might have to agree. I am someone who likes to be different and consider myself to be one of one. That’s the message I want to share in my upcoming projects with PUMA.”

Ball and PUMA will also join forces to host basketball camps, clothing donations, court refurbishments and more to support programs that encourage young athletes stay active.

With names like RJ Barrett, Kyle Kuzma and Deandre Ayton highlighting the list, Ball is the latest in a line of young talent to join PUMA.

In Ball’s 2019-2020 season as a member of the Illawarra Hawks, he played just 12 games before injuring himself during practice and deciding to leave for the NBA Draft. He averaged 17 points, 6.8 assists and 7.6 rebounds per game.

The Minnesota Timberwolves have the first overall pick in the 2020 NBA Draft after winning the NBA Draft Lottery. The Timberwolves had a 14% chance at landing the first pick, tied for the best odds with the Cleveland Cavaliers and the Golden State Warriors, the team holding the worst record in the league.

With the Timberwolves trading for star guard D’Angelo Russell last season, mock drafts appear to have Minnesota targeting Anthony Edwards, the wing player out of Georgia.

Without a consensus first pick, there is also speculation that Minnesota could trade out of the first pick, opening an opportunity for a team looking for a point guard with passing abilities like Ball’s.

It all remains to be seen the night of the Draft Nov. 18, where one thing is for sure: LaMelo Ball’s name will be called.

FashionGo Has 1st Online Trade Show Event

FashionGo, a leader in the wholesale fashion marketplace, has been quietly dominating the wholesale B2B e-commerce space for vendors and retailers for the last 20 years. The company more than tripled the average number of new registrants this past July and August. With this registration increase coupled with retailer activity that has more than doubled since June and keeps growing, FashionGo is seeing a continuous and exciting surge on their platform.

With its finger on the pulse of what is trending given the platform’s emphasis on in-stock merchandise with more than one million styles and how it is now home to 1,200 wholesalers and 420,000 retailers, FashionGo is redefining how the wholesale industry does business online.

FashionGo just completed its first-ever FashionGo Week — a two week online trade show event experience accelerated by the pandemic to connect thousands of vendors and retailers to discover new opportunities via a powerful digital experience. Designed to bring the trade show format to life in an engaging and powerful digital experience, FashionGo Week allowed vendors to maximize in-season merchandising for retailers with platform tools and features that help with buying decisions.

About Paul Lee:

Paul Lee is the CEO of NHN Global Inc., where he provides executive leadership to several wholly-owned B2B technology businesses including FashionGo, a wholesale online marketplace for the fashion apparel, accessories, footwear and beauty industries.

Paul began his career in investment banking primarily in mergers & acquisitions. His 14-year tenure on Wall Street included roles at many prominent firms such as Citigroup, Dresdner Kleinwort Wasserstein, Merrill Lynch and Berenson & Company with a focus on Fortune 500 companies in the consumer & retail sectors. His notable clients included Wrigley, Best Buy, Sally Beauty, CKX (owner of American Idol) and Nordstrom (advised on sale of their Faconnable brand).

In 2014, Paul pivoted from Wall Street to C-level executive roles and eventually transitioned to NHN Global, a subsidiary of South Korean-based NHN Corporation, for three years before taking the role as CEO at NHN Global in January 2020. His expansive career path and far reaching skill set are serving NHN Global well in the companies’ pursuit of strategically expanding in North America.

Paul is a graduate of SUNY at Binghamton and Cornell University’s Johnson Graduate School of Management. He currently resides in Los Angeles with his family.

Award illustration done by Mina Tocalini of 360 MAGAZINE.

360 Magazine wins ‘Most Innovative’

360 Magazine won LUX Life Magazine’s ‘Most Innovative Pop Culture Entertainment Publication’ award of 2020. This comes after the nomination we received and accepted at the 2020 Hospitality Awards and recent months of significant challenges.

For us, this means that we will be featured in LUX Life Magazine‘s annual celebratory magazine that will be distributed to a ‘vast and worldwide circulation of 238,000 professionals,’ and furthermore to their free website and the inboxes of their readers.

The award is due to 360 Magazine’s expertise within its field, its dedication to customer service and client satisfaction, and its commitment to excellence and innovation, according to LUX Life Magazine.

Earlier this year, our editor-in-chief, Vaughn Lowery, won Business Excellence’s award for the “Most Avant-Garde Fashion & Culture Magazine” for his creation of 360 Magazine, which covers topics such as fashion, lifestyle, and culture through a modern lens. Before that, 360 Magazine was awarded the California Excellence Award for excellence in internet and media. 

Spring 2009 saw the first online issue of 360 Magazine, which garnered positive reviews. Since then, we have continuously released content, serving our defined market well.

We proudly partner with several philanthropic organizations, such as Amnesty International, Falling Whistles, and Jenesse Center, Inc., as well as many more.

We work with cutting-edge brands, organizations, and individuals to create content that is fresh and relevant to our readers. Past pages have featured Beyoncé, Lady Gaga, Bella Thorne, Sir Paul McCartney, Demi Lovato, Zoe Kravtiz, and Led Zeppelin.

360 Magazine has offices in New York City, Dallas, London, Los Angeles, and Paris, as well as circulation in Miami, Chicago, Japan, and South Africa.

About LUX Life Magazine:

LUX Life Magazine is a bimonthly luxury lifestyle magazine that showcases the products, services, attractions, and events that will appeal to them. Some of the world’s most internationally renowned brands, individuals, and products are highlights in LUX.

“Our website, digital publication and diverse array of awards programmes cover all aspects of high end lifestyle, including the finest, food and drink, hotels and resorts, health and beauty, automotive, jewellery, art and technology,” as said on their website. “Within our pages you’ll find everything from product news and reviews, to in-depth news, trends, features and comment, all designed to inform, entertain and inspire in equal measure.” 

LUX is a part of the Al Global Media Publishing group, a UK based company, established 2010. 

Kaelen Felix Illustrates a Healthcare Article for 360 MAGAZINE

Authenticx x Healthcare Companies

Healthcare companies are at the center of so many debates right now, and their involvement in the pandemic is one of the biggest.

Having to answer customer questions while COVID-19 impacts the nation in a manner unprecedented in our lifetime can be a challenge, but Authenticx is offering advice to companies attempting to provide answers.

Authenticx CEO Amy Brown said the upcoming flu season will bring about more questions, and we can use the past several months to prepare.

“Americans are tuned into what healthcare experts are saying like never before. We’re urging healthcare providers to seize this opportunity to listen to the concerns of the public and use their resources to provide clear guidelines and straightforward advice so healthcare consumers can make the best decisions to protect themselves and others,” Brown said.

Based on 45,000 data points pulled from customer conversations, Authenticx was able to determine three main concerns regarding coverage. The three concerns are as follows:

1. Contraction Risk: Patients have divided themselves into different demographics trying to determine the possibility of contracting COVID-19, and the flu will only make it more difficult to determine. Customers called their healthcare providers to ask questions like:

  1. Should I get my flu shot this year or does that lower my immune system?
  2. Is there anything I should know about flu shots relative to my specific treatment plan?
  3. Should I quarantine if I think I have the flu?
  4. How do I know if I have the flu or COVID-19? What should I do about that?

2. Flexible Payment Options: Unstable employment and loss of insurance have been devastating results of COVID-19, but customers are still trying to remain safe. Customers reportedly asked how to proceed forward with healthcare given limited financial flexibility. Those concerns are not likely to curtail in the very near future.

3. Supply Chain & Access to Medications: With COVID-19 taking priority in national health, many patients expressed concern about getting medication they required prior to the pandemic. Issues with the mail system could also cause consumers to panic if their medication sees shipping delays or problems. Between flu shots and COVID vaccines, drug manufacturers are being kept busy. Some worry they’re too busy to handle normal mandatory medication.

Brown said healthcare companies can implement a listening system for customers with these questions by doing the following:

1. Listen at Scale: It will be nearly impossible to give full attention to each and every customer. The goal should be to prioritize the most important questions and select customer interactions to monitor. Determine a specific sample size suited to the customer base and use that sample to select questions and customers to address specifically.

2. Be Strategic: Listening can provide insight when choosing a strategy for engaging with customers. The customers will tell companies what they are hoping for in terms of service, and that information can be used to change for the better. Once a strategy is solidified, deploy resources to give the customers what they hope to receive from the company.

3. Move Fast: Begin moving on customer questions right away. As news regarding healthcare develops, so do the needs of the customers. Concerns not handled right away could get lost in the shuffle in an ever-developing news cycle, and customers want their problems solved in real time.

To see a full step-by-step guide on how to properly serve healthcare customers right now, you can click right here.

Apartment hacks illustration inside 360 MAGAZINE

Picking the Best Printer for Your Business

Starting a graphics and design business is easy as long as you do your market research properly beforehand. Besides knowing the legal requirements and other expected requirements, gathering the right tools for your business to run successfully is crucial. One of the most important items you need is a good printer. How do you settle for one when many of these items are being advertised in the market? Check out a few pointers to ensure that you choose the right printer to support your growing business.

Consider What Materials You Will Be Printing

You are likely going to be printing specific things on your printer. For instance, a black-only laser printer is excellent for when you need high quality black and white monochrome output for text proofing. On the other hand, when working with colors, you need something with color output offers. You can opt for an inkjet device or laser printer, and in other cases, a solid ink printer may work. If you print a lot of media and images, ink jet will still be the best option.

Gauge Output Resolutions

Whenever you print the final output, you will most likely need the results to be clean and crisp. A high-resolution device is what most professional graphics design businesses will need, especially if the goal is to end up with a proofing device that shows the design’s overall look. Always exercise caution when checking the resolution stats and specifications. Laser and inkjet printers may appear similar but have differ in their diverse technological functions.

Consider Your Output Usage

Have a list of all the things you intend to use the printer for when purchasing it. For instance, any heat-based lamination processes will require printers that are not inkjet. If you insist on using inkjets, then you should prepare for poor quality printouts. Any printer with a low melting point means that they are vulnerable to high temperatures. The last thing you want is a printout that is not moisture resistant.

Consider Page Sizes

Your printer choice should factor in the size of your output. For a letter or tabloid-sized pages, you should consider choosing broad-range devices. Always have the page size in mind when you are selecting a printer. Consider the specifications of the printer to know how much space it will print on paper.

Speeds Matter

Printer output speeds are crucial, especially if you choose a printer that will serve you in the workspace. Select a printer whose speeds match the work schedule you intend to handle once you are operating at optimum level. You should be prepared to pay more for extra fast speeds too. Choose a faster processor that can power heavy use proofer with the ability to print multiple page layouts with complex graphics. You can compare a catalog of office printers from Konica Minolta to choose the one that works best for you.

Many factors need to be considered when you are choosing a commercial printer. Make a point to go through this list, note the details, and check its boxes before making your decision. This way, you will be sure to find one that matches all of your needs.

360 Magazine, Business

COVID-19 Shifted Modern Business

COVID-19 and the global pandemic has presented a significant and unforeseen challenge to many businesses. The government and public health restrictions have meant closures for some, and the economic impacts have meant customers are more nervous than ever before. As a business, managing through this pandemic means shifting the fundamental way you see your business. To better understand how COVID-19 has shifted the perspective of modern business, consider these points.

Managing the books

Prior to the pandemic, businesses could be excused for not being across the minutia of detail when it came to their day to day finances. Managing inventories, purchasing and other key accounting tasks may have been considered handled in a lot of circumstances. With the pandemic taking force, it’s been crucial to shift that perspective and consider online accounting software. As businesses shift operations away from bricks and mortar style offices, to working from home, online software is key. Businesses need to be able to manage and keep an eye on all finances in real-time. Making critical accounting decisions remotely could make or break the business, so your business needs to be agile in the way it operates. Traditional businesses could get away with quarterly reporting or even monthly, but the modern business will need to be much more focused on the numbers week to week or even day-to-day. Online software can keep you up-to-date with the accounting details you need to make smarter decisions.

Smart tooling

Previously, businesses considered tools which would allow their employees, customers and competitors to connect a nice service to have. Since COVID took hold, it’s been crucial for the modern business to adapt and offer a range of tools to help create those connections. In lieu of seeing people face-to-face, businesses needed to find ways to create virtual collaboration and avoid an over-reliance on traditional communication methods, like email. 

The modern business has shifted its perspective on these tools and some are now even seeking to find ways to create these virtual connections, similar to the water cooler type conversations you’d see in a physical office. This pandemic has created a divide in project teams, product teams and many other teams where close collaboration was a key to success. Modern businesses, rather than abandoning these ways of working, have adapted and found tools that help them connect better in a separated world.

Productive home workers

Prior to the pandemic taking hold, a lot of traditional business managers held the belief that working from home was unproductive. With public health advice all but demanding businesses have employees work from home, this perspective has certainly changed. Many businesses experienced a changing of the guard, albeit through a transition period. But as time goes by, the modern business is realising that expensive leases and large tenancy are simply not necessary. Employees have proven that productivity will go on, and that business output doesn’t suffer simply because staff are at home. 

Without commutes, some staff even prefer to work longer hours. The pandemic has offered the modern business an advantage to be taken. Allowing staff to become flexible with work arrangements both now and into the future can help build a more engaged and focused workforce. The caveat to this is ensuring staff have the appropriate setups and systems access to do their jobs effectively.

~

COVID-19 has challenged many widely held beliefs about the way a traditional business needs to run. From managing the day to day to allowing staff the freedom to work from wherever they are most productive. Modern business perspectives have changed and a lot of managers would argue it’s about time too.

Billionaires Gain, Workers Feel Pain

Half a year into a paralyzing pandemic that has cost millions of Americans their livelihoods and lives, the nation’s 643 billionaires have racked up $845 billion in collective wealth gains, a 29% leap since March 18. America’s billionaires reached this startling milestone of wealth accumulation even as special federal relief was drying up for millions of unemployed workers and for hard-pressed state and local governments struggling to provide vital services. Billionaire figures are from Forbes analyzed in a new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS).

Between March 18—the rough start date of the pandemic shutdown, when most federal and state economic restrictions were in place—and Sept. 15, the total net worth of the nation’s billionaires rose from $2.95 trillion to $3.8 trillion (see table below and this spreadsheet of all billionaires). That works out to gains of $141 billion a month, $32 billion a week, or $4.7 billion a day. Forbes’ annual billionaires report was published March 18, 2020, and the real-time data was collected Sept. 15 from the Forbes website.

Needless to say, ordinary workers did not fare as well. From mid-March to mid-August, the collective work income of rank-and-file private-sector employees—all hours worked times the hourly wages of the entire bottom 82% of the workforce—declined by 4.4.%, according to Bureau of Labor Statistics data.

In fact, this billionaires’ bonanza occurred against a general backdrop of working-class pain:

The stock market in which billionaires have much of their money invested dropped sharply in the month before the pandemic lockdown. But the six months of gains that followed were not merely a reversal of those losses: billionaires are also $680 billion, or 22%, richer today than they were in February 2019, the release date of the most recent previous Forbes annual report (see table below).

“Every candidate in this campaign season, from presidential hopeful down, who’s pledging to lead us out of the coronavirus crisis must address this stark divergence between the nation’s wealthiest elite and their struggling fellow citizens,” said Frank Clemente, executive director of Americans for Tax Fairness. “The answer starts with creating a fair share tax system that narrows obscene wealth gaps and raises the trillions of dollars needed to address the present emergency and invest in our families and communities over the long-term.”

“The billionaire economy has been turbocharged by policymakers who are now stalling on relief for the real economy,” said Chuck Collins, director of the Institute for Policy Studies’ Program on Inequality and co-author of the report “Billionaire Bonanza 2020.” “The difference is stark between profits for billionaires and the widespread economic misery in our nation. Clearly, the priorities of our elected officials in Washington, DC are completely upside down.”

DATA ON THE WEALTH OF U.S. BILLIONAIRES AT 6 MONTHS & 20 MONTHS AVAILABLE HERE

Even among billionaires, wealth is highly concentrated. Roughly $400 billion, or only a little less than half of the total gains, were captured by just the 15 wealthiest on the billionaires list. The top three gainers alone—Jeff Bezos, Mark Zuckerberg and Elon Musk—enjoyed fully 16% of the spoils, or a collective wealth surge of $137 billion. The total wealth of these three—$403 billion today—is nearly three times the $1.5 trillion in total wealth held by the bottom half of the population, or 165 million Americans. One billionaire from Michigan, Dan Gilbert of Quicken Loans, saw his wealth increase an astonishing 672%, growing from $6.5 billion to $50.2 billion.

The $845 billion wealth gain by 643 billionaires over the past six months far exceeds the:

Low-wage workerspeople of color and women have suffered disproportionately in the combined medical and economic crises because of long-standing racial and gender disparities. Billionaires are overwhelmingly white men.

House Democrats passed a relief bill back in May that offered a lifeline to Americans not sharing in the billionaires’ good fortune during the pandemic. Among its provisions:

All of the above data is available in one table here.

Sen. Bernie Sanders (I-VT) and Rep. Ilhan Omar (D-MN) have introduced legislation for a 60% tax on the pandemic wealth gains of billionaires between March 18 and the end of the year and use the proceeds to help working Americans cover healthcare costs.