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Monday, April 24, 2023
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Sunday, April 23, 2023
'I have $30000 in my savings account': I'm 56, unemployed and ... - Morningstar
By Quentin Fottrell
'The past 20-something years were nothing short of rough'
Dear Quentin,
I am a 56-year-old divorced woman who has raised four children as a single parent. I made the decision at a young age to give birth to all of my children, and I was the sole provider for the family for over 20 years. Now, after my children are all grown, living their own lives, I'm left with no golden life to look forward to.
As you may imagine, the past 20-something years were nothing short of rough. I have $30,000 in my savings account, I am unemployed (and unemployable), and living incrementally off those savings. I have survived my years, not particularly because I am smart, but because I am very creative (I like to think).
I have been creating two products that require an investment of about $20,000 for patents and manufacturing costs. I truly believe that these items will sell well in their marketplaces, and set me up for success. However, I am so afraid to use that money because that is what I live on. What would your advice be on this? Please help me.
All of my life, I've missed out on every opportunity that came my way. I don't want to be the person who never tried. At my age, I believe it would be devastating to just grow old and die, not having succeeded at something at least once, but if you think it is an unintelligent choice to use my life's piggy bank, per se, I want to know it.
Divorcée & Inventor
Dear Divorcée & Inventor,
You have raised four children as a single parent. You are a winner.
Measuring your success in life should not be dependent on whether you get these patents off the ground. Nor should it be calculated by the money in your bank account. Being rich and famous is not a marker of success. The relationships you have in your life and your ability to be kind to other people are a good starting and finishing point. All the rest is garnish.
Your letter shows two sides of your self-esteem. You describe yourself as "unemployable" -- something I doubt -- and yet you also show great confidence and belief in your ability to turn these patents into a marketable product. I hope they work, and I commend you on your entrepreneurial spirit. But there's a happier, steadier medium between these two beliefs.
There are other ways to raise money and trademark your intellectual property, if that is indeed required in this case. Finding a job would help you avoid dipping into your savings. It's great that you have $30,000 saved, but this should also be treated as an emergency fund rather than a "last-chance saloon" for your patent ideas. Plus, $20,000 sounds like a very modest sum for what you have in mind.
Contact a patent attorney to find out how much it would cost. SCORE (Service Corp of Retired Executive) or the Small Business Administration's Office of Small Business Development Centers can provide assistance with your business plan. There are over 1,000 federal grant programs you can explore. There is, of course, competition for these grants.
You could also find an angel investor for your business idea, but that will come with a cost (a percentage of your business for an agreed sum). That's why people go on Shark Tank. Again, you can contact the SBA. After talking to a patent attorney, you could also reach out to friends and family, and/or crowdfunding sites like GoFundMe to tell your story, and raise funds.
I caution against putting money on a credit card, especially given that interest rates are so high and -- crucially -- you have no other source of income. For others who have a retirement account like a 401(k), think twice before raiding that, as there will be penalties -- and if the product/business does not work out, there will be a big hole in your retirement savings too.
In the meantime, you can file for a provisional patent to protect your idea before you talk about it publicly. This book, "Patent It Yourself: Your Step-by-Step Guide to Filing at the U.S. Patent Office," may also be helpful for you. But as James Yang, an attorney at OC Patent Lawyer in California points out, "For a higher-quality application, you should hire an experienced patent attorney. "
As one member of the Moneyist's Facebook Group wrote about creating products: "You have to HUSTLE, sell them into stores, brand and market them, baby them through the whole process. If you can do this (project management, sales, supply-chain management, delivery, design) you can certainly work somewhere and are employable.
"Why not get a job that helps you develop these skills (working in a trade show/brand ambassador, delivery for a similar product, project manager) and save up the $20,000 to launch your products?" she added. "Even great ideas fail with the very best behind them, if you are serious about starting a company you need to get back into the working world first."
Don't hang all your dreams on one business idea. Life is so much bigger than that. Ultimately, you need a team. Talk to your children. Tell them about your financial situation. Ask them for their advice. Can they help you find a job? Can they provide you with financial assistance? Do they have insights into your business plan? You're 56. You've achieved a lot in your life already.
Follow Quentin Fottrell on Twitter.
You can email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.com.
Check out the Moneyist private Facebook group, where we look for answers to life's thorniest money issues. Readers write to me with all sorts of dilemmas. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.
The Moneyist regrets he cannot reply to questions individually.
More from Quentin Fottrell:
She never has enough money': I was adopted by a wealthy family, but my biological grandma says I need to financially support her -- and buy her a condo
My husband and I earn $160K, have $1 million in retirement savings, cook at home and drive an old Honda. Are we missing out?
'I grew up poor': My wife and I have a $1.2 million real-estate portfolio, and $225,000 in income. Are we financially secure enough to start a family?
-Quentin Fottrell
(END) Dow Jones Newswires
01-24-23 2217ET
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Saturday, April 22, 2023
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Confusion Over Details Of Gas Appliance Phaseout - Spectrum News
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NORTH TONAWANDA, N.Y. -- A lot of questions remain about New York Gov. Kathy Hochul's to phase out fossil fuel-powered appliances.
Critics expect to get more specifics soon, perhaps when she releases her budget.
For instance, a major part of the argument from Republican lawmakers at a Friday press conference in North Tonawanda was about the impact of banning gas stoves in homes and restaurants. Gov. Kathy Hochul's office pushed back that since last week it's been clear the proposal is focused on heating equipment and stoves are carved out.
This plan, announced during her State of the State address, originally came as a recommendation from the Climate Action Council. Hochul's office is proposing prohibiting the sale of new replacement gas heating equipment for homes and smaller buildings by 2030 and larger buildings by 2035.
For new construction, those dates would be 2025 and 2028 respectively. While Ortt's office remains skeptical it won't include stoves, the minority leader said the cost-benefit analysis doesn't make sense regardless.
He said average New Yorkers don't have the money to retrofit their gas-powered heat to electric and it will be expensive for businesses and the state in general. The council's cost estimate to implement all of its recommendations was $270 billion over 30 years.
Ortt also believes the plan will do little to reduce emissions overall, pointing out even if there is some impact in New York state, much of the electricity is coming from coal burning plants in other states like Pennsylvania.
"This is not going to do anything to solve our climate problems. All it's going to do is drive up costs in a state that is already increasingly on of the least affordable states in the country and that's why people are heading to Florida. That's why people are leaving this state," Ortt said.
The governor's office said it's been clear the state has to take bold steps on the climate to protect the health and safety of our children and 30% of state greenhouse gas emissions come from buildings.
Her office said the proposals also include subsequent regulatory processes to examine exemptions which could include things like emergency back up power, commercial kitchens, hospitals and more.
source
https://4awesome.streamstorecloud.com/confusion-over-details-of-gas-appliance-phaseout-spectrum-news/?feed_id=36594&_unique_id=64445beb8a9d4
Friday, April 21, 2023
6 Tech and Electronics Items You’ll Probably Regret Buying - Yahoo Finance
Americans are crazy for tech, and they’re spending a fortune on it. According to the Consumer Technology Association, U.S. tech retail revenue will top $485 billion in 2023.
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But how many tech and electronics items are simply not worth the hype or are just dud buys? What are better alternatives? In these rocky economic times of soaring inflation, these are important questions to ask.
Let’s look at six tech and electronic items that you’ll probably regret buying — and what you should consider buying instead.
Smart kettles offer temperature control, app programming and voice direction. They typically can be purchased for anywhere from $75 to $200.
“These are pricey and, other than offering the ability to control from your smartphone, they don’t have any real advantages over standard electric kettles,” said Julie Ramhold consumer analyst with DealNews.com. “You can expect to easily spend over $200 on a smart kettle, if not more; whereas, an electric kettle like the highly rated Cuisinart PerfecTemp is around $100 and still provides a great capacity reservoir, multiple temperature settings and speedy heating.
“Yes, you have to physically hit the button on the kettle, but it’s a better deal than springing for a smart kettle that could potentially fail and turn into a dumb kettle anyway. Even worse is if it won’t function unless it’s connected to Wi-Fi, so another reason a standard electric kettle is a better buy.”
You can get a simple one-camera security system for as cheap as $35, but you typically get what you pay for.
“There are a variety of security cameras out there for anyone who wants to build their own home security system,” Ramhold said. “But, while these cheap cameras may allow you to keep an eye on your home physically, they could be opening up your defenses digitally. Shady cameras with lax security open you up to hackers and other kinds of cyber criminals. So, before you go investing in any system, you need to know the privacy policy and how your data will be stored.
“There are plenty of roundups of hack-proof cameras you can buy, so it’s best to check those out before you decide; however, a good general rule of thumb is to probably rely on companies like ADT that have been in the home security game for decades.”
“These are data privacy nightmares, but Apple Watches — even those designed more for kids — are pricey,” Ramhold said. “Instead of opting for a smartwatch, consider things like the Jiobit smart tag, which features GPS tracking.
“Parents can use the corresponding app to set up trusted places and members of the care team so that any trusted person can track their child’s location. It does require a subscription plan; but, considering the highest tier is $6 per month and offers things like 911 SOS capabilities and an alert button, it may be well worth the cost, depending on how often your kids are left alone. Even the basic subscription provides SMS and email notifications, which may be ideal for older kids with a busy routine.”
“These are gimmicky, pricey machines that may look sleek and cool as part of your home bar setup but really aren’t worth the $1,000-plus cost for the machine,” Ramhold said. “Even if you have a cocktail every single night, you’re much better off getting a good blender like a Vitamix for things like frozen drinks and sticking with a basic cocktail setup of a decent shaker and stirrer for everything else.
“You’ll be able to figure out your perfect ratios through trial-and-error, and you certainly don’t need an expensive machine to craft a cocktail for you when you can mix it yourself.”
Car GPS systems can be had for as cheap as $20, but that does not include the subscription fees. As advanced as phones are these days, a separate GPS system for your vehicle might be a waste of money.
“In mid-2022, I bought a GPS device for my car, which I regret buying,” said Ryan Faber, founder of Copymatic. “While using a GPS device, I understood that a mobile phone GPS app is sufficient for driving purposes. The GPS navigation capabilities of mobile devices are more serviceable and adequate for both driving and geocaching.
“There aren’t many advantages to a dedicated GPS gadget over a smartphone GPS app. Voice commands, the capacity to integrate and manage other apps, and the ability to switch to a different navigation app whenever you want to make your smartphone more reliable and steadfast as compared to GPS devices.”
Phones generally have replaced recorders, which typically cost at least $100.
“I never needed that audio recording device,” said Juan Pablo Cappello, co-founder and CEO of Nue Life. “It hasn’t been a user-friendly device, and the instruction booklet that came with it was surprisingly thick.
“Any smartphone you buy comes with an audio-recording application, and it’s sure to work fine. There is no noticeable difference in quality — and I even asked a sound engineer to compare.”
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This article originally appeared on GOBankingRates.com: 6 Tech and Electronics Items You’ll Probably Regret Buying
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These companies are well positioned to earn the title "tech giant" a decade or two down the road.
Nokia Corp (NYSE: NOK) reported a fourth-quarter FY22 net sales growth of 16% year-on-year (11% in constant currency) to €7.45 billion. Network Infrastructure sales grew 14% Y/Y in CC. Cloud and Network Services sales increased by 5% Y/Y in CC, while Nokia Tech rose 82% Y/Y as a long-term licensee exercised an option. Mobile Networks sales grew by 3% Y/Y in CC with a meaningful shift in regional mix. Also Read: Samsung, Nokia Ink New Multi-Year 5G Patent Deal Margins: Gross margin expanded by 33
Microsoft, Nvidia, Alphabet, Mobileye and Intuitive Surgical are part of the Zacks Investment Ideas article.
Microsoft's security business revenue has doubled since 2021.
source
https://4awesome.streamstorecloud.com/6-tech-and-electronics-items-youll-probably-regret-buying-yahoo-finance/?feed_id=36582&_unique_id=64430a7063189
Thursday, April 20, 2023
Comerica Bank Launches Innovative New Programs to Support Local Small Businesses - Yahoo Finance
Comerica's new SmallBizCo-Op program will provide North Texas small business customers access to elevated experiences and unique benefits
DALLAS, Jan. 26, 2023 /PRNewswire/ -- Comerica Bank is expanding its support for small businesses in a big way by providing North Texas customers with a set of unique new product and service offerings designed to help them grow and thrive. Through its new Comerica SmallBizCo-Op™ concept, Comerica will share its assets and resources with small business customers in the region to help them achieve their goals.
The backbone of our economy, small businesses account for 99.9% of all U.S. and 99.8% of all Texas businesses1. Yet, most are often at a disadvantage compared to their bigger competitors – with significantly smaller budgets and fewer employees, and the owner usually playing multiple roles at once.
"At Comerica, we believe in doing everything possible to empower our small business customers and give them the opportunity to succeed," said Cassandra McKinney, Comerica Bank's Executive Director of the Retail Bank. "These opportunities are designed to deliver real value to our customers and create an even stronger relationship with them. In turn, our small business customers can then leverage these opportunities to help strengthen their own customer relationships."
Comerica SmallBizCo-Op: Unlocking new online benefits
Comerica SmallBizCo-Op is now available as a no-cost benefit to Comerica small business customers. The bank is sharing its assets and its clout to provide its small business customers with a competitive advantage in a challenging business environment. The specific components of SmallBizCo-Op include:
SizeUp by Comerica – Allows Comerica small business customers to access competitive market research & data, better understand how their business compares to the competition, and ultimately make more informed business decisions. This perk is coming soon.
Sports Ticket Program – Provides small business customers with the opportunity to entertain a client or share a perk with their employees through free Dallas Stars, Texas Rangers or other Dallas sports tickets. Comerica will provide small business customers two tickets to one home game every 12 months.
Small Business Advertising Program – Gives small business customers the opportunity to advertise their business through Comerica's sports media inventory, banking center marketing TVs, sponsored events and more. Comerica will advertise small businesses for free during Dallas Stars, Texas Rangers or other Dallas sports games. Businesses are limited to one radio ad placement over the life of the Comerica SmallBizCo-op program.
Comerica SmallBizCo-op also offers customers the opportunity to save on everyday business expenses such as computer equipment, office supplies and more through multiple savings, rewards and discount programs. This includes opportunities such as the following:
Comerica is passing on its buying clout and big company pricing discount with a major office supply retailer to its small business customers, allowing them to purchase office supplies for up to 40% less.
Similarly, small business customers will get access to discounted pricing on software, hardware, computers and other small business technology solutions.
Comerica CoReward$™ – Small business customers gain access to a one-stop, online shop with thousands of discounts in more than 25 categories, such as travel, home goods, cars, health and more, that are updated daily.
The launch of Comerica SmallBizCo-Op is just the first of several elevated experiences in Comerica's longer-term strategy of sharing its resources with its small business customers. Expanded elevated experiences are expected to rollout further in 2023.
"During our initial planning phase, we engaged many of our small business customers and invited them to share with us directly their specific pain points and needs. The product and service offerings we introduced today, as well as those planned for launch in 2023, have been designed specifically to address many of those needs," explained Omar Salah, Comerica Bank's Director of Small Business Banking.
Based upon the performance of its pilot program in North Texas, Comerica plans to introduce its SmallBizCo-Op program into other markets across the country in the months and years to come.
Interested small business customers can learn more about Comerica's Small Business benefits at comerica.com/succeed.
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $85.4 billion as of Dec. 31, 2022.
Source:
1. "2022 Small Business Profiles For The States, Territories, And Nation." SBA.gov.
View original content to download multimedia:https://www.prnewswire.com/news-releases/comerica-bank-launches-innovative-new-programs-to-support-local-small-businesses-301731636.html
SOURCE Comerica Bank
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source
https://4awesome.streamstorecloud.com/comerica-bank-launches-innovative-new-programs-to-support-local-small-businesses-yahoo-finance/?feed_id=36570&_unique_id=6441b997cf966
Tuesday, April 18, 2023
Infinite Electronics Acquires Bulgin - Cleary Gottlieb
Cleary Gottlieb represented Infinite Electronics, a Warburg Pincus portfolio company, in its acquisition of Regatta Topco Limited (Bulgin) from Equistone Partners Europe and certain management sellers.
The transaction signed on December 23, 2022, and closed on January 19, 2023. The terms of the transaction have not been publicly disclosed.
Infinite Electronics has a global portfolio of leading in-stock connectivity solution brands. Its brands help propel the world’s innovators forward by working urgently to provide products, solutions and real-time support for their customers. Backed by Warburg Pincus since 2021, Infinite Electronic’s brands serve customers across a wide range of industries with a broad inventory selection, same-day shipping, and 24/7 customer service. Cleary represented Warburg Pincus in its acquisition of Infinite Electronics in 2021 and is representing Infinite Electronics in its proposed acquisition of Cable Connectivity Group B.V. announced in November 2022.
Headquartered in Cambridge, UK, Bulgin is a leading manufacturer of harsh environment connectivity solutions. The business designs, develops, and manufactures high integrity circular connectors, switches, and power-related components, which are environmentally sealed to withstand harsh conditions such as exposure to extreme temperatures, water, and humidity. Founded in 1923, Bulgin has a well-established brand and a strong reputation for product quality and reliability with its global customer base of more than 75,000 end users, who are served primarily via specialist electronic distributors. Currently, the business offers more than 7,000 products that are used across a wide range of end markets including industry 4.0, robust electronics, transportation and infrastructure, and medical technologies.
For more information, please see the press release here.
January 25, 2023
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