• 1.5 Million Floridians Will Have Their Voting Rights Restored as Amendment 4 Passes

    8 days ago - By Fortune

    Election Day 2018 is behind us, but it assured that at least one thing will be very different in 2020: the number of eligible voters in Florida.
    On Tuesday, Amendment 4 exceeded the required 60% of the Floridian vote to pass. The ballot initiative will serve to restore voting rights to residents with felony records. It will only apply to individuals who have served the entirety of their sentence, including prison time, parole, and probation, and will exclude those convicted of murder or felony sexual offenses.
    Previously, Florida was one of three states-along with Iowa and Kentucky -that...
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  • India's Booming Economy Expected to Firm Up Gold Demand

    8 days ago - By Forbes

    Starting today, the five-day festival known as Diwali-literally, “a row of lights”-will be observed by millions of Hindus, Sikhs and Jains worldwide. A celebration of good triumphing over evil, the festival typically coincides with the Hindu new year.
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  • This New Asset Management Firm Will Cut Your Pay If You Don't Beat the Market

    This New Asset Management Firm Will Cut Your Pay If You Don't Beat the Market

    8 days ago - By Fortune

    Peter Kraus took the helm of investment management firm AllianceBernstein at the height of the financial crisis. It lost more than 40% of its assets under management in 2008.
    As the new CEO, Kraus tried to slow the bleeding by slashing fees and diversifying investment strategies. But there was one thing that was much harder to recover - client trust. In his decade at the firm, Kraus saw more clients moving their assets to passive investing funds, meaning they didn't believe that human portfolio managers could outperform the market.
    For context, flows out of actively managed U.S. equity...
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  • Billionaire Marc Benioff celebrates after San Francisco votes for new tax that will take millions from big tech firms to solve the city's homelessness crisis

    8 days ago - By Chron

    Kimberly White / Stringer
    Proposition C, a measure which will tax San Francisco's largest companies in order to combat homelessness, passed on Tuesday.
    Salesforce CEO Marc Benioff has been a vocal proponent of Prop C and hailed the victory in a tweet.
    Prop C would target Salesforce, which Benioff has estimated will pay between $10 million and $11 million a year.
    Marc Benioff has tweeted jubilantly following the success of Proposition C.
    The tax scheme was voted through on Tuesday during the US midterms. It will tax big San Francisco companies whose gross annual receipts total $50 million...
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  • San Francisco Voters Back ‘Robin Hood' Tax On Business

    8 days ago - By Fortune

    San Francisco voters passed Proposition C yesterday with a 60% majority, Recode reports .
    The proposition establishes a tax between 0.175% and 0.69% on the gross income of businesses reporting over $50 million in annual turnover, along with a 1.5% payroll tax for certain companies with $1 billion in turnover to fund housing and homeless services. The city predicts it will generate between $250 million and $300 million to help needy causes.
    It already set off a multi-million dollar funding battle among tech titans: Salesforce CEO Mark Benioff and Twitter CEO Jack Dorsey exchanged barbed...
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  • Silicon Valley voters just demanded that tech companies be responsible for their communities

    8 days ago - By Fast Company

    Three Bay Area cities approved new taxes to help even out the income divide. They may inspire a movement across the state and country.
    With support from celebrity billionaire Marc Benioff, plus real celebrities Chris Rock and Jewel , San Francisco's proposed $300 million business tax to fund housing and homeless programs became a national cause célèbre. Winning by a healthy 60%, Proposition C was by far the biggest, but not the only, successful effort to make big tech pay more to even out the growing income divide in American cities-a trend that may continue.
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