For decades some wealthy people and businesses have avoided paying taxes in their home countries by setting up “shell companies” in tropical locales like the Cayman Islands or the Bahamas. The lax tax rates of these nations allow individuals and organizations to quietly keep their money out of government coffers. In today’s digital age, however, it’s a lot harder to keep a secret than it used to be. Just ask the clients of the Panamanian law firm Mossack Fonseca, the Continue reading
By now, anyone with an online presence knows that you need to think carefully about what you post on social media. Just one ill-considered joke or comment made in anger can haunt a person for years, harming their future prospects and reputation. Along with these everyday hazards, those who come from wealth run a number of additional risks if they flaunt their fortune too flagrantly online. Not only does this tacky act make them susceptible to thieves, but it also Continue reading
Ever since e-commerce started rising in prominence, the value of the retail showroom has diminished significantly. After all, consumers no longer need to visit a store to see what types of products are available for purchase. Not only does a quick search on Amazon accomplish this goal within seconds, but the site also provides helpful resources such as customer reviews and recommendations. Nevertheless, the online retail model doesn’t work the same way for all products. Consumers on the whole still Continue reading
Last year millions of Americans celebrated the Supreme Court’s decision to legalize gay marriage. But they certainly weren’t the only ones applauding the landmark ruling: dozens of brands showed their support on social media. Such an outpouring of advocacy from established companies would have been unthinkable just a decade ago. Times have changed, though, and businesses today have started to realize how important LGBT issues are to many consumers, especially young people. As a result, companies that Continue reading
Last month, the FBI and Apple became entangled in a legal battle that many assumed would rage for months. The conflict centered on an iPhone owned by one of the perpetrators of the San Bernardino mass shooting. While the FBI accessed most of the device’s data through the cloud, the government claimed a security system installed on the phone prevented them for obtaining the rest of its information. Apple refused to help the feds bypass the security feature, however, claiming Continue reading
At many large corporations, top executives earn as much as 80 percent of their salaries from performance-based bonuses. The idea is that CEOs will be more likely to do a good job if the company rewards them for success, such as increasing quarterly earnings or raising share prices. According to a new study from the London Business School, however, this widely accepted strategy might not be as effective as many companies think.
First of all, the study argues that contingent Continue reading
According to economists and government officials, the Great Recession officially ended in the middle of 2009. If you ask an average American, however, you’ll likely hear a different answer. 64 percent of people surveyed last year in a Fox News poll said they believed the U.S. economy was still in a recession. A poll conducted by NBC News and the Wall Street Journal the year before came up with similar results. And now thanks to an in-depth study by the Continue reading
For years crowdfunding websites have given regular people a platform to finance their personal causes. GoFundMe, for instance, adds 100,000 campaigns to its site each month. Most people are looking to raise money to combat a crisis, such as paying for medical bills or funeral expenses. Together these campaigns have raised more than $2 billion on GoFundMe alone, with more than half of that amount coming in the last 9 months. In fact, analysts expect that crowdfunding donations will grow Continue reading