The economic fallout from the coronavirus pandemic has left many companies no choice but to file for bankruptcy. But before they do, many dole out generous bonuses to CEOs and other executives before they run out of cash. JCPenney, Hertz, and Chesapeake Energy are just a few of the companies that recently have given their executives prepaid retention bonuses worth $7.5 million, $16.2 million, $25 million, respectively, in the days and weeks leading up to filing for bankruptcy protection, where they plan reorganize to eventually emerge with a sustainable business. The practice is common, experts told Yahoo Money, even if the optics can look bad.…
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Rallying the industry: COVID-19 Legacy. As the asset lending sector gets increasingly affected by liquidity issues IAFN sought the views of senior equipment lenders at its recent online conference. Q. How well have block discounters supporting independent finance company customers during the present crisis? (In response to a finance company colleague who claimed from first-hand experience that they are not being treated well and as a consequence have themselves needed to pull back from lending to their SME customers) Mike Randall, CEO Simply: From our perspective we’ve seen a range of behaviours out there – ranging from sort of good support, to average support, to some really poor behaviour.…
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Brits are currently hoarding more than £3.8bn ($4.8bn) in unspent foreign currency, equating to £57 per person, research suggests. Analysis of LeftoverCurrency.com data, by financial analysts at AskTraders, found that around £3.8bn of foreign cash is currently sat in Brits’ drawers or wallets, unused. Given that the average food bill per household per week is £61.90, that means Brits could be holding enough foreign currency to cover almost a weeks’ worth of food for a family. READ MORE: Gold coins and bars in short supply, premiums exploding The biggest concentration of unspent foreign change was in the south-east, which clocked up around £523m the study found.…
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Now is a good time to jump into the stock market if you’re in it for the long run – but make sure you do your research on the company before you invest in it. That’s according to US investment experts Roger Montgomery, founder and chief investment officer of Montgomery Investment Management, and Josh Gilbert, market analyst and senior account manager at social trading platform eToro. Speaking on the 7th episode of the Yahoo Finance Breakfast Club: Live Online series, Montgomery and Gilbert said they had observed a high volume of new investors jumping into the stock market to take advantage of the recent dips.…
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Management consulting firm Elixirr has announced that Nick Willott has joined its team as Partner, Finance Director and Company Secretary. A former Deloitte Director, Willott brings almost 30 years of professional experience to the challenger consultancy, as it looks to build for growth in spite of tough global economic conditions. Stephen Newton, Founder and CEO at Elixirr, said, “I’m really excited to have Nick as part of the team… With experience leading and advising finance functions in organisations across UK, America and Australia, Nick brings invaluable expertise to the team. I’m looking forward to seeing how he will help us to drive our business and exceed our growth plans.”…
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As the U.S. economy tries to get back on its feet after the coronavirus-induced recession brought businesses to a standstill, businesses in several states and cities across America will see their minimum wage rate increase as of July 1.  Illinois is scheduled to raise its minimum wage from $9.25 an hour to $10. Nevada is expected to raise the minimum wage rate to $8 for employees who are offered health benefits and $9 for employees without health benefits. Oregon, which also has a tiered system, will raise the minimum wage to $13.25 an hour in the tri-county Portland area, $12 in most of west Oregon, and $11.50…
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As an organization, Parkview Medical Center in Pueblo, Colorado prides itself on its mission of delivering the highest possible quality care to its patients – and a core component of that mission is a community-oriented approach to tackling social determinants of health. The impact that social determinants can have on the quality of a patient’s care journey can’t be overstated. These social factors – whether transportation issues, language barriers, educational disadvantages, food insecurity or low income – have a profound effect, not just on health, but on a person’s ability to navigate the care system. Parkview knew that in order for the hospital to achieve certain quality benchmarks it had to reduce 911 calls and emergency department utilization especially.…
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Dr. Rishi Manchanda toured empty homes in Los Angeles, California. By appointment only. In gloves and masks, and six feet from the real estate agent. But even in a pandemic, Manchanda and his family were still ready to buy a home. “Nobody knew what was coming and the housing experts we talked to were uncertain about the market,” Manchanda said. “So, it came down to a simple question: ‘Do we still want to move?’” Read more: Coronavirus: Here’s what to do if you can’t pay your mortgage For Manchanda and many other buyers, the answer remains yes. He’s part of the wave of homebuyers who are flooding the market after the coronavirus and state lockdowns halted the economy in April, interrupting the busiest home-buying season of the year.…
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Day traders are having a moment as they sit home without sports and trade a stock market surprisingly melting up during a major global health crisis. But this group of rebels ginned up on recent gains in the equity market may want to phone a few pros in the financial services sector. Because the most sophisticated investors around are starting to get a bit worried if the markets have gotten overextended for a host of reasons, suggests the father of online trading. “On the professional side, what we see from our investors is most of them have accumulated cash, selling into this rally.…
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NASHVILLE, Tenn.–()–Ramsey Solutions has launched , the first all-in-one personal finance membership that helps people take control of their money. Ramsey+ members get unlimited access to the best-selling Ramsey Solutions products and resources that have helped millions of people pay off debt and reach their money goals. Ramsey+ gives people an easy-to-follow personalized plan for their money. Members are guided through Ramsey’s 7 Baby Steps, which starts with saving for an emergency fund and ends with building wealth and giving. With Ramsey+, members learn how to handle money, budget with confidence and set, track and reach their financial goals. Within the first 90 days of following the 7 Baby Steps, the average person pays off $5,300 in debt and saves $2,700.…
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