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‘Glamping” business raising eyebrows

Members of the non-profit Honolulu Big Brothers Big Sisters were busy setting up camp at Waimanalo Bay Friday. Click here to watch Catherine Cruzs report. Its an annual event with a lot of hands tackling…



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Power of the Pocketbook: Women Gaining Influence As Campaign Donors

Campaign contributions from women have been on a slow but steady rise.

Campaign contributions from women have been on a slow but steady rise. Laughing Stock/Corbis hide caption

itoggle caption Laughing Stock/Corbis

In 1872, Victoria Claflin Woodhull became the first woman to run for president — before women even had the right to vote.

Campaigning as a member of the Equal Rights Party on a platform of women’s suffrage and labor reforms, the election came and went without Woodhull receiving any electoral votes, but Woodhull became the first of a small club of women who have run for the United States’ highest office.

This campaign cycle marks another milestone for women — for the first time, women are vying for the White House in each of the major parties’ primaries. Women’s voices are also becoming more prominent in campaign finance, particularly for Democrats. That’s something that will get new attention over the next several months and with the first campaign finance disclosures set to be released Wednesday.

The Washington Post reported last month that 60 percent of Hillary Clinton’s donors are women — a nearly 30 percent increase over Barack Obama’s 2012 record, when almost half of Obama’s individual donors were women, according to an analysis by the Center for Responsive Politics.

“Women candidates are front and center in a way they never have been before, which is really exciting for women voters and donors and activists,” said Jess McIntosh, vice president of communications for EMILY’s List, which aims to elect Democratic women to office. “We see in research that if a woman is running in a race, women are more likely to be engaged in that race.”

Even before the 2016 presidential cycle, contributions from women to political campaigns had been on a slow but steady rise. The reason is threefold, says Missy Shorey, executive director of Maggie’s List, an organization that supports conservative female candidates to run for U.S. Congress: increased efforts to engage women, more women in the workforce and more women are voting.

“When we represent 53 percent of the electorate — the majority — we are clearly going to be more politically active, and one of the forms of being politically active is, of course, donating,” Shorey said.

Women’s attitudes toward politics are also shifting.

“What we’ve seen over time is that women have been philanthropic givers, giving to charity in a range of amounts, but they haven’t seen politics as a place to invest their dollars,” said Debbie Walsh, director of the Center for American Women and Politics at Rutgers University. “There hasn’t been a sense that politics is the place where you can make change.”

But that sense is changing, Walsh says. Women are beginning to see politics as a way to cause change on the issues they care about. And traditional women’s issues like reproductive health, equal pay, child care and family leave aren’t the only topics bringing women to the table.

“We’re even seeing political issues that don’t usually get talked about as women’s issues — like raising the minimum wage — get talked about as women’s issues, because they disproportionately affect women,” McIntosh argued. “I think seeing great female candidates, talking about women’s issues in a way that really clearly defines the contrast between the two candidates running, just means that more women than ever are engaged in the process.”

Share of presidential campaign donations from women

Share of presidential campaign donations from women Center for Responsive Politics hide caption

itoggle caption Center for Responsive Politics

That gain in share, however, has not been seen equally from both parties. While the share of money going to Republican presidential candidates from women has remained largely flat, the share of donations to presidential Democratic candidates from women has grown by more than 20 percent since 1992.

Some conservative groups are working to change that.

“When we reach out to women,” Shorey said, “we speak about our core issues and talk about why this candidate is going to make a difference. Women like to invest their money knowing it’s going to end up doing something, why this woman we’re suggesting and have endorsed can win.”

Maggie’s List uses established political data and on-the-ground insights to talk about candidates when reaching out to women, Shorey said.

“We reach out to women that support our ideals, which are fiscal conservatism, less government, more personal responsibility, and stronger national security,” she said. “Those are our core issues.”

Though women are making gains as a proportion of individual donors for candidates, they still remain underrepresented among political donors as a whole. Women made up only 36 percent of all funds donated during the 2012 presidential election, meaning that men still donate at nearly double the rate of women.

This difference is even more pronounced at the top level. Of the 100 most generous campaign contributors during the 2012 election cycle, only 11 were women, according to the Center for Responsive Politics.

But that’s likely to change.

“As you see more women more successful in terms of income and business and as they have more independent wealth and disposable income they can invest,” Walsh said, “you’ll see more women as donors to campaigns.”

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The NYSE got off easy

On Wednesday the NYSE halted trades for three hours as it tried to understand a glitch in its system. Trades were rerouted to dark-pool exchanges, investors didnt lose money, and the NYSE was back online…


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The Most Important IPOs Aren't Necessarily The Biggest

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What do Ford, Netscape and Apple all have in common? Marli Guzzetti of Inc. Magazine tells NPR’s Arun Rath they all count as examples of initial public offerings that helped change America.

Transcript

ARUN RATH, HOST:

If Reddit does become profitable, investors hoping to get in on the next big tech stock will no doubt be ready to jump in if the company goes public. In the world of business, few things are more exciting than the IPO – the initial public offering – where a company lists the shares in the stock market and opens itself up to public ownership for the first time. Marli Guzzetti is a research director for Inc. Magazine, and she’s compiled a list of nine IPOs that shaped America. At the top of the list – our country’s very first IPO, the Bank of North America.

MARLI GUZZETTI: If you look at IPOs as the coming-out parties for ideas or companies that are going to shape the country, the Bank of North America was an IPO for America itself. The bank was – I mean, they set it up under tremendously difficult situations while the Revolutionary War was being fought. We had to borrow money from France to make it happen. A gentleman named Tench Francis, who ended up becoming the first cashier, actually had to bring a tremendous amount of silver with a team of, I think, over a dozen oxen from Boston to Philadelphia, between enemy lines, to make the IPO happen. And it ended up financing the Revolutionary War, Washington’s army. And the fact that it succeeded was a huge feather in the cap of American ingenuity and industry.

RATH: Now, in terms of American history, I wasn’t really surprised to see Ford on the list, but I was surprised that it went public as late as they did. I would’ve thought this would’ve been the teens or ’20s.

GUZZETTI: Exactly. I found it to be very interesting as well. They actually went public in 1956, which was two years after the market returned to pre-depression levels. And I think that timing was incredibly telling. Henry Ford was probably the biggest obstacle standing in the way of the company going public in the first place, and he had already been gone about seven years, ostensibly to eight years, before they announced their IPO. Another thing that’s interesting about that IPO is that Goldman Sachs was the company that actually helped them go public as well, and that established Goldman in a way that was even more dominant than they had already been considered on Wall Street.

RATH: You have on this list Parks Sausage. This was the first African-American-owned business to go public. Tell us about Parks Sausage.

GUZZETTI: They technically didn’t have an IPO, but the story behind this company was so fantastic, I thought, and the people behind the company. They were an OTC company when they went public, which was in 1969. But the men behind the company, specifically the CEO, the guy managing the company, Mr. Raymond V. Haysbert, was a fascinating character. He was two generations away from slavery himself. He had flown with the Tuskegee Airmen, and then he was the manager and CEO of the company when it went public on the over-the-counter market. And this was actually a year after Martin Luther King Jr. was assassinated. So when you take all of that into consideration, it was actually a pretty substantial move for them.

RATH: Wow. You have some tech companies on here. That’s not surprising, but there’s an interesting contrast. Apple, of course, needs no explanation. Then you have the 1995 IPO of Netscape.

GUZZETTI: So Netscape in 1995 was a really interesting IPO, and it’s one of my favorites because I discovered the Internet in 1995, like a lot of other people. So it was huge – opened at 28, closed at 58. A lot of people say it was the beginning of the end of the tech bubble. But I like to see it as the beginning of the Internet, period. And one of the other things that it did was it – and also an example of one of the first tech companies where there was no tangible product, whereas Sears, in the very – further up in the list, was a good example of an early IPO that brought retail consumerism to the broader market.

This whole new Internet that was being constructed at the time was intangible, was not selling anything, was free, and yet somehow it was monetized, and people saw dollar signs. I mean, the flipside is they saw maybe more dollar signs than they should have after the bubble burst. But, I mean, I think you see now how well it worked out.

RATH: That’s Marli Guzzetti. You can find her work, including this article, “These Nine IPOs Changed America,” at inc.com. Marli, thank you.

GUZZETTI: Thank you so much.

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Stocks Manage To Bounce, But Commodity Prices Are Swooning

The freighter American Mariner discharges its load of iron ore in Cleveland last November. Prices for iron ore and other commodities have plunged amid economic uncertainty in China and Europe.

The freighter American Mariner discharges its load of iron ore in Cleveland last November. Prices for iron ore and other commodities have plunged amid economic uncertainty in China and Europe. Mark Duncan/AP hide caption

itoggle caption Mark Duncan/AP

After a nerve-rattling plunge, stocks in Asia, Europe and the United States managed to end the week ahead of where they started.

But not so for industrial commodities. Their prices just keep heading south — creating more worries for miners, but good news for many manufacturers and consumers. The price drops could even help depress interest rates for all sorts of borrowers.

Before considering the impacts, first check out the magnitude of the changes. These are approximate prices, compared with one year ago:

  • Copper: $2.55 a pound, down from $3.27
  • WTI crude oil: $53 a barrel, down from $103
  • Silver: $15 a troy ounce, down from $21.50
  • Aluminum: $1,700 a ton, down from $1,941

Iron-ore prices have been especially hard hit, falling to just $44.10 a ton a few days ago. In early 2011, the price was nearly $200. By week’s end, prices had nudged back up to roughly $49, but they remain far below peaks.

These price collapses can help manufacturers who must purchase raw materials to make finished goods.

Here’s one example: Back in June 2008, aluminum hit a high of about $3,100 a ton. Today, the price is down to almost half that. So if you are making fuselages at a Boeing plant, this cheaper aluminum may help your employer earn bigger profits — and that might make your job more secure.

For steelmakers, cheaper iron ore means lower production costs; for lighting fixture manufacturers, cheaper copper can mean higher profits, and so on. Or the savings can be passed along to consumers.

That pass-through certainly has happened with oil. AAA, the auto club, says that thanks to the dramatic drop in crude oil prices, drivers are paying an average of about $2.75 a gallon for gasoline, compared with $3.64 one year ago.

And a new forecast from the International Energy Agency says oil prices will most likely fall further because the world is “massively oversupplied” with crude oil.

But for the companies that mine or pump these raw materials, the price drops have been brutal. For example, thousands of U.S. workers in northern Minnesota have lost jobs as iron ore mining operations have scaled back. Arizona’s copper miners have been hit with layoffs, and oil patch workers in many states have been sent to unemployment lines.

What’s the cause of the commodity price drops?

Analysts attribute most of the change to China, which just isn’t building infrastructure, skyscrapers and apartments the way it had been a few years ago. The economic slowdown in China means less global demand for steel, copper and other materials used in construction.

Metal Bulletin’s report on iron ore on Tuesday, a particularly bad day for prices, said: “Markets for the whole ferrous complex were in free-fall. … The recent crash in China’s stock market further aggravated fears of economic decline in the country.”

But it’s more than China. Europe too has been struggling to grow, and now its prospects are being clouded by the Greek debt crisis. The IEA report said crude oil is being depressed by the “financial turmoil in Greece and China.”

While raw material prices don’t necessarily get passed along directly to consumers, they do factor into the overall inflation picture. And these days, inflation remains extremely low worldwide, with the Organization for Economic Cooperation and Development pegging the annual consumer inflation rate at 0.6 percent.

On Thursday, while speaking with reporters in Chicago, Federal Reserve Bank of Chicago President Charles Evans said the Fed probably should delay an interest-rate increase until mid-2016 because inflation is still so low and the risks abroad are so great.

“There is a worldwide low inflation issue that no one right now is able to address with their monetary policies,” he said.

In other words, the drop in commodity prices could mean a cheaper car loan for you later this year. In a world where we’re all connected, everything else is connected, too.

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Radiator business built for the long haul

BILLINGS, Mont. — Finn Origer was getting out of hamburgers. After supplying ingredients to Hardee’s restaurants for decades, he was ready for a new venture, though not a particular kind. In Origer’s years in business…


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3 Reasons You Should Sell Your Business

In the back of their heads, many entrepreneurs are thinking, when should I sell my business? Owners who ponders overselling their business does not always do so out of financial desperation or trouble but usually…