Category Archives: Economy

Q&A: Economic ‘Prophet’ Now Showing Classes How Theory Translates into Practice

Stephen Roach is a respected authority on Asia — China in particular — and an often-cited and widely recognized prophet on the global economy.

Until recently chair of Morgan Stanley Asia and long the firm’s chief economist, Roach came to Yale in 2010 as a senior fellow in the newly inaugurated Jackson Institute for Global Affairs, with a joint appointment at the School of Management (SOM). This spring Roach announced he would be retiring from Morgan Stanley after 30 years with the firm to teach full time at Yale.

YaleNews recently met with the economist in his office to discuss his new career as a teacher and to get his prognosis on the future of the world economy. (more…)

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Uncollected Internet Sales Taxes Cost Missouri $468 Million Annually, MU Study Shows

MU researchers recommend legislative action to help local economy, state revenue

COLUMBIA, Mo. – Internet, or e-commerce, sales have increased over the past two decades, comprising nearly 17 percent of the total U.S. sales in 2009. However, many states, including Missouri, have no effective means of collecting taxes on those sales. Researchers at the University of Missouri Truman School of Public Affairs found that the state lost approximately $468 million annually in sales tax revenue during the past decade.

Federal law and U.S. Supreme Court rulings only allow states to levy sales taxes on a business with a physical presence in the state. For example, Amazon.com does not charge sales tax in Missouri because it is physically located in California. However, Wal-Mart charges sales tax, since it has stores in Missouri. In the study, researchers analyzed historical data on e-commerce activity and estimated that the state will miss out on $1.4 billion in potential revenue from 2011 to 2014. (more…)

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Brand Loyalty Increases When Other Customers Look, Act Like Us

EAST LANSING, Mich. — The more other customers look and act like us, the more likely we are to stay loyal to a particular store or product, according to a groundbreaking study co-authored by a Michigan State University marketing expert.

Surprisingly, the presence and behavior of other customers is just as important to brand loyalty as customer service, said Clay Voorhees. As a real-world example, he noted the fact that Abercrombie & Fitch offered to pay troublemaking cast members of the MTV reality show “The Jersey Shore” to stop wearing its clothes. (more…)

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Job Slowdown in April Halts Growth in Overall Confidence

ANN ARBOR, Mich.— Consumer confidence remained largely unchanged at improved levels in April as consumers were still hopeful about future job gains despite disappointing recent developments, according to economist Richard Curtin, director of the Thomson Reuters/University of Michigan Surveys of Consumers.

The Surveys, conducted by the U-M Institute for Social Research, have been monitoring consumer attitudes and expectations for over 60 years. (more…)

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On-the-job Deaths Hold Steady; Number of Burn Injuries Underreported

EAST LANSING, Mich. — The rate of workplace deaths in Michigan remained steady in 2011, as 141 workers died on the job compared with 145 in 2010, according to an annual report from Michigan State University.

The construction industry had the most deaths at 24, while the agriculture industry had the second most at 22, according to the Michigan Fatality Assessment and Control Evaluation program, or MIFACE. (more…)

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Social Media a Key Tool for People Entering Today’s Job Market

Many of today’s college students use social media as their main form of communication, but getting them to use it in a professional manner can sometimes be a challenge, according to Lisa Severy, director of the University of Colorado Boulder Office of Career Services.

With many employers using social media and conducting Google searches as part of their employee screening process, creating a positive and professional online presence can go a long way in helping students land a job out of school, according to Severy. (more…)

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