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Business

The business of childcare

The business of childcare

Quality childcare is not just about babysitting and entertaining the child. As competition amongst centers increases, so does the need to offer a creative and learning environment where a child's appe

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1 in 6 unemployed are substance abusers

1 in 6 unemployed are substance abusers

NEW YORK – About 1 in 6 unemployed workers are addicted to alcohol or drugs – almost twice the rate for full-time workers, according to the government's National Survey on Drug Use and Health.

The survey shows that 17 percent of unemployed workers had a substance abuse disorder last year, whereas 9 percent of full-time workers did so. The numbers are self-reported, and therefore, could be even higher in reality.

Substance dependence is defined by several factors, including having withdrawals, repeatedly using a substance over the course of one month and witnessing related adverse effects at home, work or school. Addictions to alcohol, illegal drugs and misused prescription drugs are all included.

 

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On Our Way To Wealthy: day-cares

On Our Way To Wealthy: day-cares

Entrepreneurs with a passion for childcare and child development may become attracted to the idea of day-care business and what they consider a lucrative calling. The demand for services is increasing steadily and as the industry has evolved, so have the reimbursement formulas.

Parents in search of quality childcare typically will find their options fall into three categories: family care provided by a relative, in-home care provided by a nanny or babysitter, or day-care center.

Competition among day-care businesses is fierce. As more people move into the childcare business that equates to more options for parents and potentially diluted attendance at many centers. On the face of it, a move into childcare would appear a profitable business venture. However, state regulations have increased, funding formulas have caused decreased payments, and many centers are barely operating at break even.

 

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Walmart VP pitches principles to biz-seeking entrepreneurs

Walmart VP pitches principles to biz-seeking entrepreneurs

Service, price and commitment to the community are bankable principles the way Kevin S. Jones sees them and he shared that viewpoint while in Memphis last week.

Vice President of Inbound Transportation for Walmart Corporation, Jones was the keynote speaker last Friday (Nov. 16) at the Holiday Inn-University of Memphis as the Mid-South Minority Business Council (MMBC) Continuum and the Minority Business Development Agency (MBDA) Business Center wrapped up MEDWeek 2013.

Walmart, said Jones, was founded on the principles of service, price and commitment and still operates on them today. Small business owners who become part of the corporation's system of suppliers mirror Walmart's embrace of those principles, he said.

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Dan Loeb reveals stake in FedEx

Dan Loeb reveals stake in FedEx

NEW YORK – Hedge fund manager Dan Loeb revealed a stake in FedEx Tuesday morning, adding the he likes the stock and the management of the company.

Shares of FedEx spiked following the announcement.

Speaking during a conference Tuesday hosted by The New York Times Dealbook blog, Loeb told the audience that he met with FedEx CEO Fred Smith in Memphis last week.

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Time to raise minimum wage!

Time to raise minimum wage!

The first federal minimum wage of 25 cents an hour was established in 1938. Since then, it has been raised 22 times. It's time to increase the floor for the 23rd time, from its current $7.25 to at least $10 an hour.

According to the Center for Economic Policy Research, the value of the minimum wage peaked in 1968. If the minimum wage had been indexed to the official Consumer Price Index each year, the minimum wage today would be $10.52. The last time the minimum wage was raised was in 2007, when it was raised from $5.15 to $7.25.
Still, there is resistance.

Republican leaders say raising the minimum wage will cost jobs. But opponents, such as Washington Post columnist Jared Bernstein, argue that rather than job loss, employers compensate by charging higher prices and increasing productivity.

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Hospice care: the business of providing a dignified death

Hospice care: the business of providing a  dignified death

ON OUR WAY TO WEALTHY Be strong. Fight until the end. Never give up. Continue to pray.

If anyone close to you has ever experienced a life-threatening illness or accident, such phrases may have been used as encouragement.

Still, death is inevitable, with the business of providing a dignified death known as hospice care. Although often thought of as a physical place, hospice is a specific type of healthcare with the primary focus of providing the patient with comfort and palliative care. Palliative care refers to the relief of the pain, symptoms and stress of serious illness. Once the doctor and patient are in agreement that the illness can not be reversed, hospice care becomes a consideration.

Hospice care may be provided in the home or in a hospital, assisted living, veterans, prison or a long-term facility. Hospice is not designed to hasten or prevent death. It is an option that provides the patient with management of pain and symptoms, an increased quality of life, and also emotional and spiritual support. Ultimately, terminally ill patients in hospice are given the opportunity to choose the end-of-life care received.

From a business perspective, hospice care is a multimillion-dollar. Businesses are compensated based on enrollment. With little to no expenses earmarked for a cure, the profit margins tend to be great. A very profitable hospice business can be established with the appropriate resources, a solid business plan and knowledge of the industry or affiliation with professionals that possess the requisite knowledge.

 

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Preparing for medical expenses with an HSA

Preparing for medical expenses with an HSA

According to a 2013 survey, almost 90 percent of middle-income Americans do not feel prepared to handle the financial cost of a critical illness. Most respondents said they would have to use their savings, but 75 percent had less than $20,000 in savings and 25 percent had no savings at all.

A critical illness can be especially challenging, but even healthy people with medical insurance can face substantial out-of-pocket expenses. The total health-care cost for a typical family of four covered by an employer-sponsored PPO insurance plan is $22,030 in 2013. More than 40 percent of this total – $9,144 – is paid by employees through payroll deductions and out-of-pocket expenditures.

One strategy that may help reduce health-care costs while saving for future expenses is to combine a high-deductible health plan (HDHP) with a health savings account (HSA).

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