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EXECUTIVE POLL

Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?

Too heavy. There’s no point having him die in jail.
About right.
Not nearly heavy enough.
Not sure
 
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CURRENT LETTER

 
The Kiplinger Washington Editors
July 2, 2009
 

Overhauling
Financial Regs

By year-end or so, Congress will give the nod to a major rewriting of the nation's financial regulatory system. This week’s Kiplinger Letter explores whether the package will do more harm than good and what lawmakers are likely to include.
 
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I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations - based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it's a good idea, he helps you get started. He says he offers this service free of charge, which means he gets a commission if he's able to sell you a franchise. Has anyone done this? Successfully? Unsuccessfully?
-- fender
 

Are U.S.-Born Workers Losing Out to Immigrants?

Many Americans certainly fear that foreign-born workers -- legal and illegal alike -- are snatching up jobs. But a recent study says that reality doesn't match the perception.
 
 
Rakesh Kochhar
Pew Hispanic Center
Rakesh Kochhar, associate director of research at the Pew Hispanic Center, has over 15 years of research experience in the areas of labor economics and price and wage measurement. Prior to joining Pew, he was senior economist at Joel Popkin and Co., where he served as a consultant to government agencies, private firms, international agencies and labor unions. He is a past president of the Society of Government Economists

Employers who frequently have trouble filling jobs often marvel at the claims made in union halls, on the floors of the House and Senate and on TV shoutfests that the tide of legal and illegal immigration is costing workers born in the United States their jobs. Now their skepticism is backed up by evidence.

In a study that challenges common perceptions and could ultimately influence the writing of new immigration laws, the Pew Hispanic Center finds little or no relationship between employment prospects for American-born workers and an increase in immigrant workers. Rakesh Kochhar, the study's author, studies census employment data spanning both boom and bust years between 1990 and 2004. "No consistent pattern emerges to show that native-born workers suffered or benefited from increased numbers of foreign-born workers," he writes.

As an example, Kochhar points out that while eight states with above-average growth in foreign-born workers saw a negative impact on employment rates for native-born workers, 14 states that experienced surges in immigrant workers had better-than-average employment rates for workers born in the U.S.

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