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Is A Second Stimulus Check Coming? President Trump Charts New Course, Money For People, Airlines, Small Business

Is A Second Stimulus Check Coming? President Trump Charts New Course, Money For People, Airlines, Small Business

KEY POINTS

  • Trump accused Democrats of holding $1,200 stimulus checks hostage to aid for cash-strapped state and local governments
  • The president is still recovering from COVID-19 and is taking a steroid that interferes with thought processes and causes aggression
  • Trump’s shift in direction comes as the recovery from the coronavirus-induced recession appears to be losing steam

After putting the kibosh on further coronavirus stimulus negotiations, President Donald Trump Wednesday urged Congress to send him a trimmed-down measure that would provide $1,200 payments to individuals, along with funds to shore up the airlines and small businesses.

Trump sent the Dow Jones Industrial Average into a more than 375-point dive Tuesday, tweeting he had ordered an end to negotiations between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi. The two sides were more than $500 billion apart on the size of the next round of stimulus. The president said there would be no new talks until after the Nov. 3 election.

The action came after Federal Reserve Chairman Jerome Powell urged lawmakers to pass a sizable stimulus package, warning failure would lead to a protracted recovery and permanent damage to the economy.

The Dow opened higher Wednesday, recouping Tuesday’s losses.

Hours after halting the talks, the president, who still is undergoing treatment for COVID-19 and taking a steroid that interferes with thought processes, tweeted Congress should move immediately to “approve $25 billion for airline payroll support and $135 billion for [the] Paycheck Protection Program for small businesses.”

He also accused Pelosi and other Democrats of “playing games” with stimulus payments for individuals, holding them hostage to funds for cash-strapped state and local governments reeling from the costs of dealing with the pandemic.

Wednesday morning, Trump urged Congress to “move fast” on stimulus checks for individuals.

White House Chief of Staff Mark

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The Escalator: Laura Mizrahi joins FCB Health New York as executive creative director – People Moves – MM&M

The Escalator: Laura Mizrahi joins FCB Health New York as executive creative director – People Moves – MM&M

FCB Health New York names executive creative director

Laura Mizrahi has been named executive creative director by FCB Health New York, a pre-eminent healthcare communications network. Most recently, she had led the New York creative department at Razorfish Health.

Akili appoints chief marketing officer

Meghan Rivera has been appointed chief marketing officer by Akili, a developer of video game-based digital medical treatments. Previously, she was an executive at AMAG Pharmaceuticals.

Micron Medical appoints chief executive officer

Dr. Mark Landy has been appointed chief executive officer by Micron Medical, a privately held medical device manufacturer focused on urological conditions. Landy, who also is joining the company’s board of directors, had previously been executive vice president and chief strategy officer at MiMedx.

Intra-Cellular Therapies promotes chief medical officer

Dr. Suresh Durgam has been promoted to the position of chief medical officer by Intra-Cellular Therapies, a developer of therapies for central nervous system disorders. Previously, he had been senior vice president, late stage clinical development and medical affairs.

Exscientia appoints chairman of the board

Dr. David Nicholson has been appointed chairman of the board of directors by Exscientia, a pre-eminent AI drug discovery company. Before that he had been chief R&D officer at Allergan.

Caris Life Sciences names chief business officer

Brian Lamon, Ph.D., has been named chief business officer, head of BioPharma business development, by Caris Life Sciences, a developer of molecular profiling solutions. He previously worked for Bristol Myers Squibb as vice president, development lead, genitourinary, malignancies, oncology development.

Neuronetics appoints vice president of sales

Sara Grubbs has been appointed vice president, sales, by medical technology company Neuronetics. Previously, she held sales leadership and management roles with Revance, Aesthetics, Allergan, Ulthera and Solta Medical.

Elucida appoints chief medical officer

Dr. Eliel Bayever has been appointed chief medical officer by Elucida Oncology,

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3 things I always tell people in their 50s about retirement as a CFP

3 things I always tell people in their 50s about retirement as a CFP

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

  • By the time you reach your 50s, you should be thinking about how close you are to reaching your retirement savings goals.
  • If you’re behind, now is the time to start making aggressive catch-up contributions to your employer-provided plan and an IRA.
  • You should also reduce your expenses and pay off debts, and avoid lifestyle creep — you don’t need that big house or fancy car.
  • Use Blooom to analyze your 401(k) today and see how you can grow your retirement savings »

When it comes to saving for retirement, it is never too early to start. However, the last decade or so before you reach retirement age can be especially critical. 

Once a person turns 50, they should be mounting a full-court press, becoming even more aggressive about their saving and debt-reduction efforts. By that age, you probably have a pretty good idea of when (or if) you want to retire, and, more importantly, still have some time to make any necessary adjustments if you find that you are off track. 

Start making catch-up contributions

The IRS allows catch-up contributions in the tax code for a reason. It is because Americans’ natural inclination is to consume rather than to save. So, obviously, the federal government fully recognizes that we must be poked and prodded and rewarded to make it happen.

If you discover that you are behind on your savings goals and need to put more money away, the conventional recommendations are to maximize annual contributions to your workplace retirement account and contribute to a traditional or Roth IRA.

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