On Aug. 11, 2014 Fortune magazine’s Peter Elkind and Marty Jones wrote “Citizenship For Sale” about the government immigration EB-5 visa program. Created by the Bush Administration in 1990, any wealthy person on the planet can buy US citizenship for $500,000 if they promise to create only 10 US jobs. “The growing demand for EB-5 financing is being met largely by new Chinese millionaires, eager for greater freedom and less pollution, or to send their kids to college in the US. More than 80% of the program’s applicants come from China, making it the mother lode for EB-5 prospecting.” The article describes how these investors may be at risk from fraudulent or misleading businesses in the US. It also describes how EB-5 may not be creating that many new jobs in the first place.
Adam Lashinsky wrote “LinkedIn’s Networker In Chief” about LinkedIn CEO Jeff Weiner.
Copyright 2014 DJ Cline All rights reserved.
On Jul. 25, 2011 The New Yorker’s Alec Wilkinson wrote “Let’s Get Small” about Tumbleweed’s Jay Shafer and the tiny house movement. Supporters say they are affordable, environmentally friendly and easier to maintain than normal housing. Built on trailers, they are usually under 400 square feet with a kitchen and bath. They may violate local building codes and banks may not mortgage. According the International Code Council, no habitable room can be smaller than 70 square feet and no house under 261 square feet.
Calvin Trillin wrote “Back On The Bus” about Freedom Riders in the 1960’s American South. Segregationist tried to decide who was a member of the press, limit their access, tell them whether they could take pictures and even what kind of cameras they could use.
John Cassidy wrote “Mastering The Machine” about Ray Dialo, hedge fund founder of Bridgewater Associates. Dialo correctly predicted the collapse of the economy in 2007 because of the “crazy lending and leveraging practices” of financial institutions. He approached and informed the Bush Administration and they did not act on it. The Obama Administration did act and the economy rebounded fast than even he thought it would.
Copyright 2011 DJ Cline All rights reserved.
On Aug. 16, 2010 The New Yorker’s James Surowiecki wrote “Soak The Very, Very Rich” about ending the Bush tax cut. Only three percent of Americans make over $250,000 and they would barely notice a slight tax increase. During the Bush Administration, the top one percent saw income grow ten percent versus the bottom ninety-nine percent who only saw income grow only 1.3 percent. French economist Thomas Pinketty says the very rich are becoming the very very rich. This disparity was last seen just before the Stock Market Crash of 1929 that led to the Great Depression. Taxing higher brackets would help governments help more people. The upper ten percent has to realize that if they do not act, they may become the 99 percent and not the one percent.
Joan Acocella wrote “Queen Of Crime” about British mystery writer Agatha Christie.
Copyright 2010 DJ Cline All rights reserved.