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Cheat Sheet Q & A:
Topic: How are
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The interesting results of a wealth study were just released today and they suggest that “the new millionaire” doesn’t come from money anymore…they make it themselves. Sixty-eight percent of high-net worth Floridians are self-made.
As an interesting side note, I thought you might be interested in this Barron’s piece that I came across. It provides the # of millionaires for each state with the affluent market sizing:
So clearly: Most millionaires do make it on their own. The glass ceiling is being broken (with a third being women) and while the cost of higher education continues to rise at a rate that’s not sustainable long term, historically it has paid off well for most of
For the Barrons breakdown of state comparisons click the link below:
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Devil in the
Bottom Line: As a Cheat Sheeter you know that I’ve been a housing bull since December of 2011. You’ll know that recently I’ve suggested that the rate of growth in the real-estate recovery will begin to moderate after the summer buying season and I’ve always pointed to the new foreclosure filing rate as the most important metric to indicate when we should be concerned about the recovery possibility. With that in mind…
Two negative events occurred in May for the
Nationally the new foreclosure rate continued to show big year over year declines (down 33%).
So the national numbers continue to show improvement and a generally sound recovery that’s still playing out. In
President Obama's approval vs. President Bush’s (G.W.) at the same point:
Bottom Line: You may have heard that G.W. Bush’s favorability ratings have been on the rise (now standing at 49%) and some have been comparing that figure to President Obama’s current approval rating. That’s not a good metric for comparison purposes.
In the polling age virtually every President has seen their favorability ratings rise after they leave office (Nixon being the only exception). If you want to try to compare the two, the accurate way is to review the average approval rating of President Bush at this stage in his second term to President Obama’s current rating. If you do you’ll find:
So there is a story to be told here. For as much negativity as there was seemly surrounding the 2nd Bush term, President Bush was actually slightly more popular at this stage in his Presidency than President Obama currently is.
It will be interesting to see if Democrats generally begin to try to distance themselves from the President as Republicans did during Bush’s second term given the current lack of popularity.
Microsoft stores coming to a Best Buy near you:
Bottom Line: Microsoft has opened its own stores in select cities a la Apple (but not near as many exist). Microsoft is getting ready to blow past Apple in terms of its retail store presence thanks to a new deal with Best Buy.
Microsoft is going to be opening stores inside of 600 Best Buy stores this fall. 500 of those stores are here in the
In my view this is a win-win for both companies that are trying to reinvent their direct to consumer device sales. The timing is nice for Microsoft with the Xbox One launch this fall.
Small Biz IT in a box:
Bottom Line: Here’s another partnership that could turn out to work for both. HP and Google are teaming up for to deliver an out of the box ready to go IT solution for small businesses.
Google has been aggressive recently in pursuing the business customers that have traditionally used Microsoft’s Office products. Google has a series of products and apps that are designed to be the basic IT platform for small businesses. Those will now be standard in HP computers going forward. This is the first time that HP hasn’t completely allied its product offerings with Microsoft. It’s also an interesting solution for small businesses looking for all of the tools they need on a desktop and ready to use.