Two weeks ago, $29 billion of market value evaporated when the news broke that Volkswagen had cheated on emissions tests.
Share prices fell from $155 on Monday to $126 by Friday. For a period of eight years, Volkswagen deliberately rigged its U.S. diesel engines to run much cleaner when being tested for emissions than they actually performed on the road.
The impact of this scandal is not yet fully apparent, but trust in the Volkswagen brand will not easily be restored. No matter what regulatory authorities do to Volkswagen, the real pain will come from car buyers who shun Volkswagen cars. more >>
Poverty in the United States affects about 1 in 10 people despite them living in one of the richest countries in the world, according to the U.S. Census Bureau's 2014 annual poverty report released Wednesday.
According to data from the Income and Poverty in the United States: 2014 report, the nation's official poverty rate in 2014 was 14.8 percent, compared to 14.5 percent in 2013, meaning 46.7 million people were living in poverty last year compared to 45.3 in 2013. The U.S. government defines poverty based on annual household income and takes into account the household size. The median household income in the United States in 2014 fell slightly to $53,657 from $54,462 in 2013. The weighted average poverty threshold per individual during that same year was $12,071; $15,379 for two people; $18,850 for a family of three; and $24,230 for a family of four.
The Christian Post recently spoke with leading Christian non-profit organizations to find out how followers of Jesus Christ are working to eradicate poverty in America. more >>
With school well underway across the country, most parents have been shopping, organizing and planning for their children's success. Coaches and trainers are engaged to achieve better performance in sports; tutors hired for Chemistry or math, but some interesting research indicates that when it comes to teaching your children a vital life skill, it may be extremely difficult to make major changes after age 7 … and parents are the primary teachers whether they know it or not.
In a fascinating report, researchers at the University of Cambridge commissioned by the United Kingdom's Money Advice Service discussed how children learn about money through observation and basic math, finding that kids' money habits are basically formed by age 7, at which point most children are in First and Second Grade, many years short of the time we traditionally think of financial training.
The issue is not so much that children of 7 are qualified to become Certified Public Accountants, but that their view of money and the emotions associated with it have already been formed, along with some basic patterns. Interestingly, a study by the American Institute of Certified Public Accountants (AICPA) found that more than 60 percent of parents begin giving their children an allowance by age 8, at which time, according to the study, life-long attitudes are already in place. more >>
Pope Francis has urged every Catholic parish and religious community in Europe to take in at least one refugee family and help Europe with its migrant crisis, noting that the Vatican would take two families itself. With hundreds of thousands of refugees making their way toward Western Europe, countries such as Germany and Austria are said to be near the "tipping point" of how much they can help.
"May every parish, every religious community, every monastery, every sanctuary of Europe, take in one family" Francis told the crowds at St. Peter's Square on Sunday. ￼ "Before the tragedy of tens of thousands of refugees fleeing death in conflict and hunger and are on a journey of hope, the Gospel calls us to be close to the smallest and to those who have been abandoned," he added, according to Vatican Radio.
Since the dawn of time, labor has been a part of God's economy. Work is inherent to our purpose, meaning and dignity.
In 1999, The New York Times reported an incident in an impoverished country. Relief workers distributed food and other necessities to a long line of people who waited patiently. But when they distributed fishing nets, these same people cheered.
The history of the celebration of Labor Day in America can be traced back to the year 1882, during the middle of the Industrial Revolution. It was a time of labor struggles and political protest against intolerable working conditions. People who were a part of the labor movement chose the first Monday in September as the official holiday to honor the contribution that workers "who from rude nature have delved and carved all the grandeur we behold." In 1894, Congress made the day a legal national holiday. more >>
As another Labor Day approaches, how are we doing when it comes to work?
Millions of Americans are perpetually unemployed.
Writing for Pew Reports (11/14/14), Drew DeSilver notes, "…more than 92 million Americans — 37% of the civilian population aged 16 and over — are neither employed nor unemployed, but fall in the category of 'not in the labor force.' That means they aren't working now but haven't looked for work recently enough to be counted as unemployed … the share of folks not in the labor force remains near all-time highs." more >>