How to Survive Every Type of Financial Setback

Photo: ShutterstockEven when you think you’re doing everything right financially, things can still go wrong. Job loss, divorce, and illness can all wreak havoc on your finances, as can car accidents, natural disasters, and—well, you get the idea.What do you do if an unexpected financial emergency costs you everything in your emergency fund and more?…

Photo: ShutterstockEven when you think you’re doing everything right financially, things can still go wrong. Job loss, divorce, and illness can all wreak havoc on your finances, as can car accidents, natural disasters, and—well, you get the idea.What do you do if an unexpected financial emergency costs you everything in your emergency fund and more? How do you bounce back from a financial setback, whether you get rear-ended, get divorced, or find yourself in the middle of yet another recession?At Kiplinger, Chartered Financial Consultant® Mike Piershale suggests taking action right away:
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A look at the fast declining morale at Uber amid budget cuts for basic amenities, mass layoffs, and a 30% decline in stock price since its IPO (Faiz Siddiqui/Washington Post)

September 30, 2019, 2:15 PM Top News More: CNET, SiliconANGLE, XDA Developers, Android Headlines, TechSpot, Engadget, MediaNama, Coinspeaker, Android Central, MSPoweruser, Android Authority, Fossbytes, The Overspill, PYMNTS.com, Gizmodo, Seeking Alpha, and Slashdot More: CNBC, Wall Street Journal, and Howard Lindzon Tweets: @joshelman, @wsj, @mattyglesias, @mattturck, @carnage4life, @vcstarterkit, @bwertz, @skupor, @thest

September 30, 2019, 2:15 PM

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Hong Kong Flight Attendants Urge Cathay to Explain Layoffs

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In Michigan steel towns, tariffs remain popular but jobs are still disappearing

ECORSE/RIVER ROUGE, Mich. Some steelworkers who cheered President Donald Trump’s tariffs on foreign steel last year are now being laid off, an unintended consequence of his America First policy as United States Steel Corp reacts to sagging demand from automak…

ECORSE/RIVER ROUGE, Mich. Some steelworkers who cheered President Donald Trump’s tariffs on foreign steel last year are now being laid off, an unintended consequence of his America First policy as United States Steel Corp reacts to sagging demand from automak…
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WeWork proves that (venture) capitalism works

What’s the lesson of WeWork? Here’s a startup that has been a darling of Silicon Valley investors for years, whose offices and CEO have been stunningly painted across the covers of major trade magazines and strategically deployed across major tech conference stages, including our very own. At its peak, the company commanded a valuation of…

What’s the lesson of WeWork?
Here’s a startup that has been a darling of Silicon Valley investors for years, whose offices and CEO have been stunningly painted across the covers of major trade magazines and strategically deployed across major tech conference stages, including our very own. At its peak, the company commanded a valuation of tens of billions of dollars and was supposed to be on course for the stratosphere, joining companies like Google and Facebook.
And then it all came crashing down, in literally a handful of days.
It’s easy to point to WeWork’s potentially 75%+ valuation drop, its looming layoffs, the firing of its CEO, and the seeming compression of a whole heck of a lot of investors and employee equity as a sordid disaster tale of capitalism, and venture capitalism in particular. VCs — none more so than Masayoshi Son at SoftBank — constantly overbought, oversold, and overcommitted to a company that had pretty much no business fundamentals whatsoever.
So what’s the lesson of WeWork for venture capital? In a word, nothing.
Venture capitalism is about investing in bold bets with huge, outsized returns. It’s meant to be risk-adjusted, both at the valuation scale but also at a portfolio scale. VCs should be buying equity at the right price to take into account every individual startup’s risk profile while also constructing a portfolio that selects each of those risks for the best overall return.
For WeWork, much of those dollars were driven by SoftBank’s Vision Fund, which seemed to double down again and again on the company, even at loggerheads with its own limited partners. The Vision Fund made a bet, seemingly with reasonable access to internal information, and that bet turned out to be wrong.
But a bet it was.
Many bets in venture turn out to be duds. Sometimes you lose some of your money. Sometimes you lose all of it.
And then sometimes you make it in spades. SoftBank’s
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U.S. labor judge rules that Tesla broke labor law

Tesla interfered with legitimate union organizing and must read a notice to workers explaining their rights in a meeting requiring attendance from Chief Executive Elon Musk, a U.S. labor judge ruled on Friday. The company committed a series of violations of …

Tesla interfered with legitimate union organizing and must read a notice to workers explaining their rights in a meeting requiring attendance from Chief Executive Elon Musk, a U.S. labor judge ruled on Friday.
The company committed a series of violations of …
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Economic Preview: Slowing but still-strong U.S. jobs market keeps economy going in turbulent times

The U.S. economy is riding out rougher times on the strength of the best labor market in decades. Can it last?Trump impeachment talk, China trade tensions, drone strikes in Saudi Arabia, a messy “Brexit” — it’s all enough to sour Wall Street and Main Street on the U..S. economy’s future. Thank goodness for the strongest…

The U.S. economy is riding out rougher times on the strength of the best labor market in decades. Can it last?Trump impeachment talk, China trade tensions, drone strikes in Saudi Arabia, a messy “Brexit” — it’s all enough to sour Wall Street and Main Street on the U..S. economy’s future. Thank goodness for the strongest labor market in several decades. To be sure, the U.S. jobs market itself is also showing signs of stress. Hiring has slowed this year, bigwig CEOs say they’re cutting back and a recent survey suggests service-oriented companies are reducing employment for the first time in a decade. The economy is still producing enough new jobs, however, to outstrip the number of people entering the labor force each month, such as new immigrants, high school and college grads and working mothers heading back to the office. What’s more, the pace of layoffs and the unemployment rate remain near a 50-ye
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Former employees of dog-walking startup Wag, which raised $300M from SoftBank and replaced CEO in Jan. 2018, describe slowed growth, multiple layoffs, and more (Sara Ashley O’Brien/CNN)

September 27, 2019, 4:25 PM Top News More: Engadget, 9to5Mac, CNET, The Verge, Threatpost, SiliconANGLE, Android Authority, Digital Trends, Gizmodo, The Hacker News, MacRumors, Malwarebytes Labs, Security Affairs, Ars Technica, iMore, Tom’s Hardware, Security Boulevard, Cult of Mac, VentureBeat, Mashable, Geek.com, WinBuzzer, The Mac Observer, iDownloadBlog.com, iPhone Hacks, SecurityWeek, iPhone in Canada Blog, MacDailyNews, and…

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Sara Ashley O’Brien / CNN:

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Chief designer for Lincoln Aviator SUV is brand’s new design director

The man behind the looks of cars like the 50th anniversary 2015 Ford Mustang, the current-generation Lincoln Continental and the luxury divisions new 2020 Aviator SUV is Lincolns newest design director. Kemal Curic replaces David Woodhouse, who left earlier t…

The man behind the looks of cars like the 50th anniversary 2015 Ford Mustang, the current-generation Lincoln Continental and the luxury divisions new 2020 Aviator SUV is Lincolns newest design director. Kemal Curic replaces David Woodhouse, who left earlier t…
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There’s Other News. Here You Go.

The news from Washington has felt like an avalanche. Here’s what else happened this week.ImageAs ice sheets in Greenland, above, and Antarctica melt and push up ocean levels, extreme flooding could increase in many coastal regions this century, a new climate change report said.CreditCreditFelipe Dana/Associated PressSept. 27, 2019Updated 3:16 p.m. ETIt’s been a whirlwind week…

The news from Washington has felt like an avalanche. Here’s what else happened this week.ImageAs ice sheets in Greenland, above, and Antarctica melt and push up ocean levels, extreme flooding could increase in many coastal regions this century, a new climate change report said.CreditCreditFelipe Dana/Associated PressSept. 27, 2019Updated 3:16 p.m. ETIt’s been a whirlwind week in the news. On Monday, President Trump was accused of freezing aid to Ukraine before pressing the country’s leader to investigate a political rival. By Tuesday, Nancy Pelosi, the House speaker, announced a formal impeachment inquiry against the president, and, for much of the last few days, cable news, social media, late-night comedy shows and most news sites have talked of little else. Still, perhaps you heard a bit about the climate talks at the United Nations, where the teenage climate activist Greta Thunberg criticized world leaders for their “business as usual” approach. Or the continuing political turmoil in Britain, where the Supreme Court struck down Prime Minister Boris Johnson’s suspension of Parliament. Or the negotiations to form a government in Israel, in which Prime Minister Benjamin Netanyahu pulled off an amazing reversal and came out on top once again. Here are some other stories you may have missed.The oceans are in dangerA sweeping United Nations report found that climate change is dramatically altering the chemistry of the world’s oceans. They are heating up quickly, threatening seafood supplies, fueling cyclones and floods, and posing profound risks to hundreds of millions of people who live along the coasts, the report found.Written by more than 100 international experts and based on more than 7,000 studies, the report is the most extensive look to date at the effects of climate change on oceans, ice sheets, mountain snowpack and permafrost.ImageAn advertisement for Juul in San Francisco in June.CreditJason Henry for The New York TimesIt’s been a hard week to be a C.E.O.The chief executives of Juul Labs, WeWork and eBay stepped down this week. Juul Labs replaced its chief executive with a veteran of Big Tobacco, amid doubts about the future of the e-cigarette industry. The company, which commands 70 percent of the e-cigarette market, faces a federal criminal inquiry, new bans on some of its products and investigations into its marketing practices.Meanwhile, the hard-partying chief executive of the valuable start-up WeWork stepped down under pressure,
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