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    Daily Digest 5/20 – Insurance Agents Lose Their Health Coverage, Companies Less Flexible For Workers

    by DailyDigest

    Tuesday, May 20, 2014, 12:25 PM


Civil Rights Battlefront Is Now Yearning for Jobs (jdargis)

Researchers note that in a county of approximately 42,000 people, a rush of new jobs related to the training center would move the unemployment rate sharply downward. (The state said Dallas County’s unemployment rate was 11.7 percent in April, the most recent month for which data is available, nearly five percentage points higher than the statewide figure.)

Targeted? Gun sellers say ‘high risk’ label from feds cuts off banking options, restricts business (June C.)

Gun retailers say the Obama administration is trying to put them out of business with regulations and investigations that bypass Congress and choke off their lines of credit, freeze their assets and prohibit online sales.

Since 2011, regulators have increased scrutiny on banks’ customers. The Federal Deposit Insurance Corp. in 2011 urged banks to better manage the risks of their merchant customers who employ payment processors, such as PayPal, for credit card transactions. The FDIC listed gun retailers as “high risk” along with porn stores and drug paraphernalia shops.

For Workers, Less Flexible Companies (jdargis)

“A lot of the existing research assumes companies are flexible if they report that they are. The reality is very different,” said Stephen Sweet, a sociologist at the Sloan Center on Aging and Work at Boston College and co-author of a recent study on flexible work arrangements. His study, of 545 employers, found that only 20 percent of companies offered a variety of flexible options to most of their workers.

Welcome to the Third World, Part 15: Insurance Agents Lose Their Health Coverage (June C.)

One would think that great health coverage would be a basic perk of working for an insurance company, but those days are apparently over. Investment News reports that John Hancock has not only eliminated health insurance for its agents, it has converted those agents from employees to commission-based independent contractors.

Unsold Car Stockpile Images (Arthur Robey)

The report is misleading. Many of the images in the report are from 2009 and depict cars stockpiled due to dramatic falls in sales caused by the Global Financial Crisis (GFC). Since then, new car sales have rallied considerably. Moreover, some images that purportedly depict stockpiles of ‘unsold’ cars simply show stored cars awaiting shipment at port facilities. Thus, despite the claims in the report, the images do not provide evidence that millions of cars are left to ‘die’ unsold or that the GFC continues to severely impact new car sales.

Illegal Dumping of Texas Frack Waste Caught on Video (Adam)

Karnes County is at the epicenter of a drilling boom in the 26-county Eagle Ford Shale region of South Texas. It’s one of the most active drilling areas in the country, where nearly 9,000 wells have been sunk and another 5,500 approved since 2008. Drilling and fracking a single well in the Eagle Ford can take 4.9 million gallons of water, according to a report to the U.S. Environmental Protection Agency.

Russia, China Report Gas Deal All But Final (James S.)

Nevertheless, the negotiations are in the “final phase,” Russian President Vladimir Putin said in remarks reported May 19 by the Chinese news service Xinhua. “For Russia, implementing these agreements means diversifying gas supply destinations, while for our Chinese partners … it could be a remedy for energy shortages and helps ecological security,” he said.

Fukushima Workers Fled Plant After Accident Despite Orders (jdargis)

The transcript offers a chilling glimpse of the panic gripping workers on March 15, when the plant appeared to teeter on the brink of catastrophe four days after a huge earthquake and tsunami knocked out vital cooling systems. Mr. Yoshida told investigators that 650 workers and even midlevel managers fled to another nearby nuclear plant, leaving just him and 68 other employees behind to try to contain a possible fuel-core meltdown at a reactor whose building had just exploded. That reactor was one of three that were eventually determined to have melted down during the accident.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/19/14

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

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