Posts tagged with "investment"

Twitter’s Future with Bitcoin

By: Sean Fontno, Elle Grant × Vaughn Lowery

Jack Dorsey always had a niche for technology. Back in 2000, he thought to himself, “What if you could share your status with all your friends really easily, so they know what you’re doing?” 6 years later, Jack Dorsey posted the very first tweet: “just setting up my twitter,” and became the company’s chief executive officer. In 2010, Dorsey started investing in the social networking company Foursquare and launched “Square.” Square lets people receive credit card payments through a mobile phone or computer. With his knowledge of social media and Square, it doesn’t seem like much of a surprise for Dorsey wanting to bring Bitcoin and Twitter together, creating something that can quickly connect people and their money.

What is Bitcoin? It’s a currency created back in 2009 by an unknown person using the false name of Satoshi Nakamoto. Have you ever been to the arcade or to the casino and received tokens or chips? Similarly, you must exchange real currency for cryptocurrency. Cryptocurrency is a digital currency that’s just like the normal United States Dollar (USD) but is protected by cryptography, which makes it impossible for scammers to attack this form of currency. It allows you to make payments online and money is easily moved place to place, account to account, with no credit card fees. With cryptocurrency being decentralized, YOU own that money. 

Along a contributing factor to this evolution in currency technology are NFTs. NFTs (non-fungible tokens) are the tokens used to buy things in cryptocurrency. NFTs helps the owner, artist, etc, earn a percentage of all the sales. It protects the unique original work being sold because in this day in age, everything is being used for something and wouldn’t you want your rightly earned money for that? They create an immutable record, keeping note of every sale. It’s the new modern step to your work or business. All you need is a smart device and an internet connection, and with just those two things, Dorsey’s goal to reach a worldwide audience will definitely be achieved. Especially as there are already 192 million daily active users on Twitter. 

Jack Dorsey sees a new chance to bring cryptocurrency into Twitter in the modern moment. Dorsey, who has been supporting Bitcoin for years, even discussed with his investors about the next steps. He told them it would help the company keep up with new market strategies. He explains how the native currency can help them move products like Super Follows, Commerce, Subscriptions, and Tip Jar. Dorsey sees this as an opportunity to “…reach every single person on the planet,” instead of doing the regular market-to-market approaches. So, Dorsey’s goal to always stay connected with people continues to be in play.

Bringing Bitcoin to Twitter seems like it will give businesses from small to big an option to increase profits and reach more audiences. With Bitcoin, you can create your own fees, avoid fraud, and kiss “three business days” goodbye! Having these benefits accessible on Twitter could be the next step for the social media of the future. 

Piggy Bank illustration by Heather Skovlund for 360 Magazine

Financial Future

Securing Your Financial Future

Mark Williams, CEO Brokers International

When it comes to securing your financial future, the best time to start planning is today. There are a lot of tools and products available to help put a plan together, but they all have one thing in common: the earlier you take advantage of them, the better off you’ll be.

Studies have shown that younger individuals, particularly millennials, tend to prefer savings over retirement accounts. Whether that’s because they lived through the Great Recession and saw what happened to older generations whose retirement strategies were rooted in the stock market, a lack of financial literacy, or something else altogether, the fact remains that younger generations have a more conservative mindset regarding financial planning and investing.

Many people put off retirement planning until retirement itself moves more into focus. But to maximize the impact of your efforts to plan for a secure financial future, start as early as you can. Here’s where you should start.

Workplace 401(k)s

For many people in the workforce, a 401(k) is offered through their employer. Saving money for the future in a tax-advantaged vehicle is a wise move, but for those whose companies offer a 401(k) match, it’s a no-brainer to maximize that source of free money. Due to the power of compound interest, even a small regular contribution makes a major difference over time.

Consider this example. If you invest $50 a month into a 401(k), at an average 7% annual rate of return, that investment adds up. After 15 years, you’ll have invested $9,000, but it will be worth over $15,000. That same $50 a month after 30 years will amount to $18,000 out of your pocket, but it will have grown to nearly $57,000. And if you invest just $50 a month for 45 years, that $27,000 investment will be worth just under $171,500. (You may not get 7% every year, but as an illustration, the value is clear.)

Annuities

Planning for your financial future can be difficult when you may not even have a view of that horizon. You don’t know what your life will look like, what your financial needs will be, and what resources will be available to you once you are no longer working.

Annuities provide a great response to the uncertainty of long-range financial planning. It’s the only financial product available that guarantees an income stream for life — once you turn on that income stream, it’s fixed. Fluctuations in interest rates or the marketplace won’t affect it. An annuity will provide you with a paycheck every single month until the day you die — and some products even allow you to extend that benefit to your spouse or children.

Life Insurance

This is the big one, but many people overlook life insurance because they won’t be able to take advantage of it themselves. But ask yourself, at any stage of life, if you don’t make it home one day, who relies on you to provide financially? More than anything, insurance is a form of safety and protection, for you and for those you love. It’s critically important for someone who is married with children to have life insurance in case of tragedy, to be able to help cover debts, provide a future source of income and even allow space for grief without financial anxiety.

But even for single young professionals, just starting off their careers, life insurance should be a primary consideration in financial planning.

Consider a young, single, 23-year-old individual who may not have anyone who depends on their income. Why would that person want to purchase a life insurance policy in that situation? In part, because they don’t know what their situation will be like in 1, 5 or 10 years, and a 20- or 30-year term life insurance policy will provide financial safeguards for some of the possibilities that may arise. Additionally, there’s a popular saying in the insurance industry: money pays for life insurance, but health buys it. When you are young and healthy, you’ll never be able to get a life insurance policy as cheaply as you can at that point.

Just as you never know if or when your circumstances may change and you’ll find yourself wanting a life insurance policy to protect the financial interests of someone you married five years after initially deciding not to purchase a policy, you may also receive a diagnosis in that same five-year period that makes life insurance impossible (or prohibitively out of reach).

If you buy life insurance when you’re young and healthy, you can take advantage of the best rates possible and provide a blanket of financial security for your loved ones.

Plan Ahead

Financial planning isn’t a lot of fun for most people, but it is necessary. Whether you are aiming for a specific short- to a mid-range financial goal or turning your eye toward your eventual retirement, it pays to start thinking about securing your financial future as early as possible. The cost of doing so when you are young is comparatively lower than if you wait 10, 20, or 30 years to make some of the same decisions.

If you’re young, take advantage of your long time horizon and plan accordingly. If you’re older and already feeling close to retirement, you may not have taken advantage of the power of compound interest but it’s still not too late to reallocate some of your assets and shore up your financial situation as much as possible.

For anyone, I would strongly recommend seeking out the advice and experience of a financial professional — they will understand all of your available options and know best how to construct a strategic plan to help you reach your goals.

Heather Skovlund computer illustration for use by 360 Magazine

Cryptocurrency Investment: Five Personal Finance Experts to Follow for Perfect Advice

There is much one must know to avoid facing trouble in the domain of cryptocurrency. Hence, it is vital to explore more about this new currency. Finance experts can be your best guide when it comes to cryptocurrency advice. Whether you follow these experts or explore sites like Bitcoin Buyer, you can gain valuable insight. Check out the top five personal finance experts to follow before investing in digital currency:

1). Jeremy Schneider

Jeremy is one of the most senior Bitcoin experts, having been involved with the industry from the first day. He learned about cryptocurrency in 2010 and after thinking for half an hour, Jeremy finally decided to procure BTC. Jeremy warns against investing because of fear of missing out (FOMO) pressure. Rather, Jeremy reminds people of two rules when it comes to making money by investing in cryptocurrency: think twice before investing, and go safe in their games. Today, his net worth comes to around 4.1 million dollars.

2). Jully-Alma Taveras

Jully is called the Investing Latina on the internet. She aims to diversify the entire holdings of digital currency assets. People are starting up to learn more about the digital coin, claims Jully, yet not all are required to put their money into cryptocurrency. Jully feels that one’s cryptocurrency assets should comprise of a wide range of profiles. She also recommends people try only the two, main digital currencies for now. When we compare digital currencies to traditional ones, some cryptocurrencies can miss the mark.

3). Kiana Danial

Kiana Danial is also known as the Invest Diva. She began keeping an eye over the digital currency market in 2016, and began putting her money into the market in 2018. Danial has been active on Instagram, on which she discusses investing on goals and objectives. Kiana claims that BTC is not a lottery ticket to make loads of money in a year. She feels that one should research and check out potential risks before investing their money.

4). Marc Russell

Mark, better known as Betterwallet on Instagram, loves to stick to the basic rules of investing. He says that long-term and boring kinds of strategies do not often work, and that they require too much focus. At the same time, Mark also recommends considering what your personal long-term goal is. He claims that a majority of asset distribution deals (which include a proper blend of bonds, stocks, and alternatives) are simple and make everyone a long-term investor. He recommends that veterans start first with 5 percent investment allocation, and then proceed to with 10 percent allocations with caution.

5). Humphrey Yang

Humphrey Yang creates TikToks and YouTube videos concerning investing. He strongly advocates for index funds. Humphrey recommends that investors put money into these index funds and check them on a yearly basis. Furthermore, Yang calls people to avoid any speculative investments. He recommends only putting a small amount of money into an investment, and then proceeding gradually to see that your money is moving in the right direction.

 

Art by 360 Magazine for use by 360 Magazine

Michelle Phillips Auctions California Girl NFTs

Auction includes an NFT with a private dinner with Michelle Phillips and friends.

Michelle Phillips, the vocalist behind the Mamas & the Papas, songwriter, actress, and model is auctioning her original California Girl memorabilia and her videotaped hand drawn group image through ViciNFT through June 29. In support of charity, funds go to The Painted Turtle, which offers its flagship Camp for Kids with serious medical conditions.

The video of the original drawing, the digital drawing will be included in the NFT and the original will be presented to the Rock and Roll Hall of Fame.  There are 10 identical NFTs each for a minimum price of $10,000 dollars. For concierge bidding for those who buy via US Dollars and credit cards contact five@vicinft.com

Each successful initial bidder receives an invitation to have dinner at PASTINA in Westwood California, with Michelle Phillips and her friends at her favorite restaurant on September 21, 2021.  Winning bidders can each bring one guest. Also attending will be CEO of The Painted Turtle and the Director of Development.  Dinner will be hosted and attended by the members of ViciNFT. 

 Regarding the auction, Michelle Phillips said: I am delighted to be able to help so many children through these auctions. She added regarding the dinner with Michelle Phillips & Friends, I am hoping Lou Adler and several of my other friends will join the special dinner that will be held for the winning bidders on September 2021 at my favorite Italian restaurant PASTINA in Westwood California. 

Bill Gladstone, Partner in ViciNFT Corporation, said, Michelle represents the essence of the California musical and cultural transformation of the 1960s which has impacted the world for more than fifty years. He added, These NFTs will increase in value as icons of this era.

While working as a model in San Francisco, Michelle met and married John Phillips in 1962 and went on to co-found the vocal group the Mamas and the Papas in 1965. The band rose to fame with their popular singles California Dreamin’ and Creeque Alley, both of which she co-wrote. Her original California Girl memorabilia is digitized in a digital collectible, including her original signature and a fabulous hand drawn portrait of the Mamas and the Papas. The NFT also includes a video of the making of the drawing and signature, along with a dedicated message to the winning bidder.   

The Painted Turtle began as a dream in 1999 when Paul Newman and Page Adler, along with a group of other dedicated individuals, co-founded The Painted Turtle to let kids with medical conditions just be kids. Through the ongoing commitment of these individuals, many of whom sit on our board today, the dream of The Painted Turtle became a reality. 

Lou Adler legendary music producer said, Michelle Phillips’ beauty and attitude was and is the image of the original “California Girl” and the harmony she has brought to the world through her involvement in music is matched only by the kindness she has shown for those in need.  

Adler added, Fortunately, The Painted Turtle is one of the recipients of that kindness. Michelle Phillips’ NFT which includes a whimsical drawing of the Mamas & Papas will be a priceless treasure for the winning bidder. The Painted Turtle is grateful that they will receive 25% of the winning bid that will allow them to continue to provide life changing camp experiences to children with serious medical conditions. On behalf of those children, thank you Michelle. And thank you to the auction bidders.

Adler signed the Mamas & the Papas to Dunhill, producing six top-five hits for the group, including California Dreamin’ and Monday, Monday

ViciNFT, which is managing the digital assets and auction, is the leader in artist and enterprise digital asset management. Its partnerships encompass non-fungible token (NFT) creation and management, smart contracts, blockchain technology development, and cryptocurrency-based auction management. 

ABOUT THE PAINTED TURTLE

The Painted Turtle’s mission is to provide a year-round, life-changing and authentic camp experience for children with chronic and life-threatening illnesses. The Painted Turtle supports children’s medical needs, inspires them to reach beyond their illness, and provides care, education, and respite for their families. All campers and families attend free of charge. 

ABOUT MICHELLE PHILLIPS

Michelle Phillips is an American singer, songwriter, actress, and model. She rose to fame as a vocalist in the musical quartet the Mamas and the Papas in the mid-1960s. Phillips is the last surviving original member of the Mamas and the Papas.

ABOUT VICINFT CORPORATION

ViciNFT Corporation  designs, builds and manages digital assets and non-fungible tokens (NFTs) for enterprises and creators. The company’s works are carbon neutral, and include a mandatory charity component equal to 25% of auction proceeds, making NFTs for the common good. The company is led by Partner and Co-Founder, Bill Gladstone.

Award Illustration by Heather Skovlund for use by 360 Magazine

Michael E. Jordan – Entrepreneur of the Year Finalist

From very humble beginnings, Michael E. Jordan has elevated the UNRL brand with core values, quality of product, and a spirit of giving back to the community.

UNRL announced that its founder and CEO, Michael E. Jordan, has been selected as a finalist for the prestigious Entrepreneur of The Year® Award, Heartland Region, presented by Ernst & Young. Based in St. Paul, Minnesota, UNRL is an athletic apparel brand that specializes in creating functional athletic clothing.

After an intensive nomination and selection process, Jordan was identified as one of 36 finalists within the seven-state Heartland region. This award honors game-changing business leaders who rise above challenges using ingenuity, courage, and ambition. Nominees are evaluated based on six criteria: entrepreneurial leadership; talent management; degree of difficulty; financial performance; societal impact and building a values-based company; and originality, innovation, and future plans. 

Jordan founded UNRL in his mother’s basement seven years ago with an investment of a mere $300 and has since grown the company exponentially year after year. Today, UNRL has 19 employees and is on track to reach 8 figures in annual sales. All of this was done with hard work and entrepreneurial spirit, without any outside investment or business loans. 

UNRL products are sold in various retailers throughout the country including Scheels Sporting Goods, PGA Tour Superstore, various NHL, and NFL Pro Shops. One of their most notable apparel partnerships is with the social media powerhouse Barstool Sports. UNRL takes great pride in the quality of their product and their attention to how business is operated. 

“It’s an incredible honor to be selected as a finalist for this award,” said Jordan. “I don’t view this as an individual achievement, this is a testament to my team. It’s been a collective effort with 100% buy-in from every member of our team. Without that, we wouldn’t be here today. I believe we are growing this business the right way, and it is meaningful to be recognized for that. I’m very grateful for all the support Ernst & Young has provided throughout this process.”

Jordan said that he has high expectations for the UNRL brand in the future; articulating plans to surpass the $10 million annual revenue marker within 12 months and reach the $100 million milestone by 2029. In doing so, continuing to donate 15% of net proceeds to nonprofits including the University of Minnesota Masonic Children’s Hospital.  

“I am very competitive by nature. I’ve been an athlete my whole life,” said Jordan. “I pride myself on continuous improvement and doing things the right way to leave a positive legacy on the industry. The Entrepreneur Of the Year® Award has my respect because it’s a challenge against the best in the business, and we have something to prove. I want to win this.”

Regional winners of the Entrepreneur of the Year Award will be announced in late July. The National Entrepreneur of the Year Award will be handed out on November 13.

ABOUT THE ERNST & YOUNG ENTREPRENEUR OF THE YEAR AWARD:

Entrepreneur Of the Year® is the world’s most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth, and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. Entrepreneur of the Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. National Overall winners go on to compete for the EY World Entrepreneur of The Year™ title. 

ABOUT UNRL:

UNRL is a clothing brand that bridges the gap between functional and casual. Their clothing is designed to take you from the office to the gym, or the airport to the golf course. UNRL creates all products with three principles in mind: style, comfort, and versatility. Everything is crafted from scratch with premium hand-selected materials and tailored for a great fit. UNRL is here to instill confidence in the athlete that strives to do more. 

Dolphin via Mina Tocalini for use by 360 Magazine

Venture Capital Funds Investing in Climate Change Innovation

Saving the planet from Climate Change devastation is one of the most important things we can do to date,  yet has often seen pushback from major investors who’ve focused their investments on safer industries like coal and oil. Luckily, there’s a growing trend of investment companies created for the purpose of saving the planet, promoting the idea that clean energy can benefit investors as well as our future, according to a new Venture Capital (VC) trend.

2021 has already seen multiple climate-focused fund launches. London-based One Planet Capital launched a fund for green tech, fintech, and sustainability-based B2C businesses, while actor Robert Downey Jr (Ironman, The Avengers) has founded FootPrint Coalition Ventures to invest in high-growth, sustainability-focused companies. European-based fund 2150 also launched this year, investing €200m ($240m) into start-ups developing sustainable technologies to lower carbon emissions in Europe’s cities. 

 The financial world used to think environmental issues couldn’t generate viable rewards, but another climate-focused fund, Congruent Ventures, believes a tipping point has been passed.

Congruent raises investment specifically for Climate Change solution start-ups and, with $300 million under management after closing its second fund at $175 million, managing partner and co-founder Abe Yokell said:

“If you brought up the word ‘cleantech’ to any institutional investor allocating to venture ten years ago, they would do their best to avoid the meeting, but now, there’s a fundamental belief that there will be significant financial returns investing broadly in climate tech over time.” 

Congruent’s portfolio includes electric vehicle charging provider Amply, which raised $13.2m last year from investors including Soros Fund Management and Siemens. Digitally controllable electrical panel company Span raised $20m in January through Congruent, with investors including Munich Re Ventures’ HSB Fund and Amazon’s Alexa Fund.

Congruent itself is well-founded, with investors including UC Investments, the Microsoft Climate Innovation Fund, Three Cairns Group, Jeremy and Hannelore Grantham Environmental Trust, and Surdna Foundation, among other institutions, foundations, and family offices.

Regulation A+ crowdfunding companies are also seeing investment, such as Digital Twins market leader Cityzenith, who recently launched their international ‘Clean Cities, Clean Future’ campaign as part of the Race to Zero movement.

Cities worldwide generate 70% of the world’s carbon emissions, but Cityzenith’s AI Digital Twin platform technology can help property asset management groups, city planners, and developers reduce emissions and move to carbon neutrality in the next ten years.

Cityzenith CEO Michael Jansen said at the launch of the ‘Clean Cities – Clean Future’ initiative: “We have to help the most polluted urban centers become carbon neutral, and we plan to do this by donating the company’s Digital Twin platform SmartWorldOS™ to key cities, one at a time, after every $1m we raise. We’re able to do this because of the recent surge of investment we’ve had as part of our $15m raise.”

Cityzenith is already benefiting from the funding shift, attracting $2.5m in investment since late 2020 through Regulation A+ crowdfunding and a surge in shares from $0.575 to $1.50 in just five months. The US company has raised $10m to date.

With a growing trend in climate change investment funds, hopefully we’ll be able to start decreasing carbon emissions and work towards saving the planet.

Art by 360 Magazine for use by 360 Magazine

Dogecoin Interest Spikes

Interest in Dogecoin on Google spikes by 3,000% in 2021 led by the US and Turkey

Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that the global interest in Dogecoin had surged by 3,233% between January and May 9, 2021, when it peaked with a popularity score of 100. During the same period, Dogecoin’s price has spiked by a whopping 12,650%.

The United States has recorded the highest interest in the meme-coin on Google Search with a peak score of 100, followed by Turkey at 86. Canada ranks third with a popularity score of 76. The asset has a popularity score of 62 in Singapore, followed by the Netherlands with 61.

Other countries recording a high volume of interest in Dogecoin include Australia (50), Austria (44), Nigeria (42), Ireland (41), and Slovenia (39)

Dogecoin emerges as the emblem of meme investing 

The rise in Dogecoin began in early 2021, and the report explores the trigger for the spike in interest. According to the research report:

In general, Dogecoin’s momentum began building after investors were eager to find out the next big hit after the excitement around GameStop and other stocks faltered. GameStop stock surged after members of the famous WallStreetBets subreddit rallied the price to new levels. Dogecoin has, therefore, emerged as an emblem of meme investing, a trend that has helped drive up the stocks of GameStop. These stocks have flipped the traditional concept of value on its head.

The rise in Dogecoin culminated in the asset hitting a new all-time high of $0.73. Notably, the interest was also sparked by celebrities. However, Tesla founder Elon Musk has been at the center of the asset’s extraordinary price movement. He regularly tweets in support of the asset.

Read the full story with statistics here!

Money illustration by Heather Skovlund for 360 Magazine

Geniusu × Microschool

GENIUSU LAUNCHES INVESTOR 5.0 MICROSCHOOL TO HELP INVESTORS

THRIVE IN THE DIGITAL DECADE

Genius Group, a Singapore-based public limited company, today announced the launch of GeniusU’s Investor 5.0 Microschool, taking place online from April 12 to May 7, 2021.

The Investor 5.0 Microschool is a four-week accelerator program that covers all four drivers of building Investor 5.0 strategies with personal guidance and mentoring to lead participants towards consistent cash flow and predictable growth.

Genius Group, the world’s No.1 entrepreneur education group, has packaged its top investment strategies, entrepreneur curriculum, and online faculty into a high impact, four-week microschool, that will set participants up to thrive in the digital decade.

Genius Group has generated 10x returns on its investments in the last year, seen its group valuation grow from $30 million to $300 million, and has also made acquisitions of over $80 million in the last year alone. This has all been driven by the investor 5.0 strategies it is sharing with students in this four-week microschool.

Five reasons to join the Investors 5.0 Microschool today:

  1. Learn how to generate 10x increase in your investments using some of the top investor 5.0 strategies that set you up for success in the digital decade.
  2. Learn how to start and manage your investments in global shares & currencies, property, cryptocurrencies, and commodities, together with how to put an Investor 5.0 Portfolio Plan together for 2021 & 2022.
  3. Receive full access to all four modules and session recordings for continuous improvement even after the Investor 5.0 Microschool has completed.
  4. Be connected to over 25,000 in the GeniusU community who are creating opportunities, connections and providing resources for each other as part of our trusted community.
  5. Get in front of 1.7 million entrepreneurs on our GeniusU platform, with your own store and a suite of future proof products.

Whether you are just starting out, you are a passive investor with basic investment knowledge or an active established investor with an investment portfolio, we have the solutions to help you succeed in global shares & currencies, property, cryptocurrencies, and commodities and build an investor 5.0 portfolio.

Join us today to reset, restructure and launch your Investor 5.0 portfolio plan to navigate and strive in the digital decade.

It’s time to turn the great disruption into your greatest opportunity for growth.

To learn more about the Investors 5.0 Microschool, please visit the website.

About GeniusU

GeniusU is an Edtech platform providing over 1.7 million students across 200 countries with personalized learning paths and microdegrees on business building skills.

About Genius Group

Genius Group is a $300+ million group of companies and is the world’s #1 Entrepreneur Education Group. Genius Group was founded by futurist and social entrepreneur Roger James Hamilton. The Singapore-based public limited company also owns GeniusUEntrepreneurs Institute and Entrepreneur Resorts LimitedLearn more here.

About Roger James Hamilton

Roger James Hamilton is a world-renowned futurist and social entrepreneur and is the founder and CEO of the Genius Group of companies. Roger is the New York Times bestselling author of The Millionaire Master Plan, a practical guide to understanding how your mind works to enable you to live your most successful life. He is also the creator of Wealth Dynamics, Talent Dynamics and Impact Dynamics, tools used by over 1.7 million entrepreneurs to follow their flow.

All of Roger’s companies empower the Entrepreneur Movement – collectively growing our ability to create and contribute wealth. Roger studied architecture at Cambridge University before launching his first business, Free Market Media, in Singapore during his 20s.  He was the founding chairman of the renowned Green School, Bali, where his three children were educated.  Roger currently lives in Europe but, when permitted, travels extensively between the UK, USA, Southeast Asia and Australia.

Agriculture illustration by Heather Skovlund for 360 Magazine

USDA Announces Investment

USDA Announces $218 Million Investment in Land and Water Conservation

Agriculture Secretary Tom Vilsack today announced the USDA Forest Service will invest more than $218 million to fund Great American Outdoors Act projects to conserve critical forest and wetland habitat, support rural economic recovery, and increase public access to national forests and grasslands.

Leveraging the Land and Water Conservation Fund (LWCF) provided by Congress, this investment will improve public access by funding strategic land acquisitions. Funds will also support work with state agencies to encourage private forest landowners to protect their land through conservation easements or land purchases.

“These investments reflect President Biden’s commitment to supporting locally-led conservation efforts from coast to coast and to honoring and building on the proud private land stewardship traditions of farmers, ranchers, and forest owners,” said Agriculture Secretary Tom Vilsack. “The investments will not only protect our natural heritage, but they will also create jobs, expand access to the outdoors, and help tackle climate change.”

The Forest Service administers two LWCF programs: The Forest Legacy Program and the Land Acquisition program. Together, these programs conserve critical and strategic lands across the nation’s forests on both private and public lands. The Forest Service will invest more than $94 million to fund 28 projects under the Forest Legacy Program and $123 million to fund Land Acquisition Program projects, including projects for recreation access and other needs.

Land Acquisition Program highlights include:

  • $6.4 million in FY 2021 to acquire 8,590 acres for the Lolo Trails Project in Montana. This project aims to mitigate the effects of climate change by providing the cold water that federally listed bull trout and other species need to sustain healthy populations in a warming climate.
  • $3.7 million to acquire 1,550 acres in the Yakima River Basin for the Washington Cascades Project. Supported by a wide coalition of public, private and non-profit partners, this project seeks to ensure a long-term water supply in the face of climate change.

Forest Legacy Program highlights include:

  • Protecting 12,500 acres of habitat, water and timber on the Ceylon Forest in Georgia. 2.5 million people depend on the Ceylon for drinking water that flows from and through the forest. As a working forest, the Ceylon supports a local wood-based economy that includes 121 mills, with a $1.69 million payroll impact. Once completed, the area will also become part of a much larger Wildlife Management Area and serve as an ideal hunting and fishing destination for sportsmen across the Southeast.
  • The East Grand-Weston in Maine builds on a century-old tradition of sustainable forestry and expands recreation opportunities over more than 4,300 acres. The property supports a thriving local recreation industry by protecting lands, waters and trails while also providing sustainable wood products to up to 15 mills. The property will remain in private hands while continuing to be managed for public benefits.
  • The second phase of the Kootenai Forestlands Conservation Project will permanently protect nearly 28,000 acres of land in northwest Montana. The project area belongs to the Stimson Lumber Company and contributes to the local economy while allowing free public access as a recreation destination for hunting, fishing, skiing, hiking, snowmobiling and more. The project will also protect the area from further residential development, reducing future firefighting costs by more than half.

Background

The Forest Service has been administering LWCF projects since 1964 along with the Department of the Interior. The fund supports Forest Service-led conservation projects including acquisition of critical non-federal lands within the boundaries of national forests and grasslands. Now, with full and permanent funding through the Dingell Act and the Great American Outdoors Act, the Forest Service is poised to strengthen its conservation program and provide greater recreation access to national forests and grasslands.

The agency worked with partners, considered multiple criteria and used established competitive processes to select projects for fiscal year 2021. During the review, the agency evaluated the environmental, social, and economic benefits of proposed projects and whether they contributed to other conservation initiatives. The Forest Service also considered local recreation access needs, the level of local support for strategic land acquisitions and how likely it would be for project areas to be converted to non-forest uses.

For more information on the Great American Outdoors Act and related projects, visit the website.

USDA touches the lives of all Americans each day in so many positive ways. In the Biden-Harris Administration under Secretary Vilsack, USDA is committed to transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit USDA.

Money illustration by 360 Magazine

LVMH Market Cap Increase

LVMH Market Cap Soars to €265 Billion, Tops Nestle as Highest Valued Company on European Stock Market

Luxury conglomerate LVMH is among the key beneficiaries of investor optimism. According to the research data analyzed and published by Finaria, luxury conglomerate LVMH’s market capitalization stood at €264.55 billion as of February 26, 2021. That made it the highest valued company on the European stock market, overtaking Nestle which had CHF 267.57 billion (€242 billion).

Based on a HH Journal report, LVHM’s share price increased by 65.4% between April 2020 and February 2021. During the same period, European luxury rival Richemont posted a share price gain of 74%. Hermes stock shot up by 54.7% while Kering’s soared by 22.1%.

Fashion and Leather Goods Division Accounted for 86.5% of LVMH 2020 Profit

LVMH, the world’s largest luxury group, owns 75 primary brands across five divisions. Fashion and leather goods, the largest of these, accounted for a 46% share of Q1 to Q3 2020 revenue. During the period, the segment’s sales fell by 11% but started showing signs of recovery in Q3 2020, with a 12% uptick.

The performance of the fashion and leather goods division improved further in Q4 2020 when its revenue soared by 18% to €7.3 billion. For the full year 2020, the segment’s organic revenue only declined by 3%, compared to its 24% decline during H1 2020. It thus accounted for 86.5% of LVMH’s profits for the year 2020.

Overall, LVMH group sales in Q4 2020 totaled €14.3 billion, down by only 3% YoY. Asia contributed to its strong performance with a 21% increase in regional sales. In contrast, sales in Europe fell by 24%.

For the full-year 2020, LVMH’s revenue sank by 16% to €44.65 billion while its net profit fell by 34% to €4.7 billion. On the bright side, the group completed the acquisition of US jeweler Tiffany at $15.8 billion. In 2021, analysts project an increase of 18% in revenue and a 67% uptick in earnings for LVMH.

The full story, statistics and information can be found on Finaria’s website.