Feeds:
Posts
Comments

Posts Tagged ‘money’

sub-buzz-10080-1543442186-2

Photo: Monica LeRossignol
After a devastating wildfire, Bob Wilson, a Southern California real estate developer, gave $1,000 to each of Paradise High School’s 982 students and 105 employees. He is pictured here with student Trevor
LeRossignol.

Compassionate people pop up everywhere. I try to keep my attention focused on that as much as possible. In this example, a wealthy developer was moved to put money behind his compassion after the devastation of the 2018 wildfires in Paradise, California.

In November, Brianna Sacks wrote at BuzzFeed News, “Monica LeRossignol and her son are still stunned by the freshly printed $1,000 check, a gesture that’s brightened the difficult, surreal reality of rebuilding their lives after losing their home and most of their community in Paradise, California.

“On Tuesday night, her 17-year-old son, Trevor LeRossignol, and hundreds of other students, parents, and faculty members from Paradise High School gathered at Chico High School, as they have every week since the Camp fire leveled their town, to catch up, give hugs, rifle through donations, and eat some warm food. But this gathering had a major bonus.

“Bob Wilson, a Southern California real estate developer, was there giving out $1,000 to each of Paradise High School’s 982 students and 105 employees, totaling about $1.1 million in donations.

” ‘I gave him a hug,’ LeRossignol said. … Like thousands of others, the 46-year-old lost everything in the catastrophic wildfire, which has killed 88 people, torched more than 153,000 acres, and destroyed 14,000 homes. The mother, her son, fiancé, two nephews, and six other family members fled for their lives and are now crammed into two bedrooms at a friend’s house in the nearby city of Chico. …

“A few weeks earlier, as the Camp fire continued to burn around Paradise, Wilson came across a story in the Los Angeles Times about the students of Paradise, most of whom lost their homes. It delved into the uncertainty facing Paradise Unified School District and its class of seniors who were readying to graduate.

“The 89-year-old told BuzzFeed News that Paradise High School’s plight stuck with him, reminding him of his own ‘carefree’ days as a teenager. …

‘I made up my mind in five minutes,’ the businessman said Wednesday morning from Chico. ‘I had some of the most profound experiences in my life in high school because I was still able to be a kid, and it broke my heart to think of the experiences these kids were missing.’ …

“About two weeks later, Wilson was flitting between about 10 tables set up inside Chico High’s hallways, handing out envelopes containing a letter and personal check addressed to each student, teacher, and custodian, which he had personally stuffed from one of his offices in Los Angeles. …

” ‘It was a really unique, cool way to give,’ [Paradise High Principal Loren] Lighthall said of Wilson’s donation. ‘It’s been rough, especially for high schoolers who need their friends and there’s no way to get together.’ …

“Two days after the fire tore through their close-knit, rural California town, Lighthall, who has been principal for two years, started a GoFundMe for Paradise High, a ‘high-poverty”‘ school where 67% of students qualified for free lunch last year. Almost every one of the nearly 1,000 students lost their home and ‘everything they own,’ he said. …

“For now, Lighthall explained that their main goal is getting the kids their credits however they can. More at BuzzFeed, here.

By the way, it’s sad that BuzzFeed and other news outlets have had to lay off so many reporters lately, people who come up with good local stories like this one. The news model is changing nationwide and we need to pay for journalism in new ways. My husband and I pay to read the Boston Globe online, the New York Times, and the Guardian. I also have a membership in the investigative news site Talking Points Memo. Online ads are not enough to keep these vital services going.

Read Full Post »

When dollar bills of any denomination get too beat up to use, the federal government shreds them. For a long time, the various Federal Reserve banks gave out small bags of shredded money to visitors as a souvenir — always a big hit with kids.

But for the last few years, shredded money has been used as compost in gardens. Here’s a story from Seth Archer at Business Insider about the new approach.

“Have you ever wondered what happened to currency that gets damaged? If you have a paper shredder in your home, you already have a pretty good idea. But that’s just the start….

“The New Orleans branch of the Federal Reserve shreds $6 million in cash each day. They mainly shred bills that are dirty, taped, graffitied or otherwise unfit to be used as cash.

“The bills are shredded to a fine texture to make compost. … The cash is transferred to a compost facility, where it is mixed with other materials to make nutritious plant food.

“After the compost is made, it is sold to local farmers, who use it to grow peppers, tomatoes and cucumbers.

” ‘It is very fulfilling to be growing using a material that would otherwise go to waste.’ — Simond Menasche, founder and director of Grown On.”

More here.

Photo: Great Big Story

Read Full Post »

bitcoin-machine-at-South-StationA friend is doing research on bitcoin and other virtual currencies.

Although it sounds like phoney money to me, I still honor the lesson I got in fourth grade about how a dollar represents trust. You trust when you receive it that it will be accepted by someone else in exchange for something you want. You trust the entity that backs it. Today people are using virtual currencies like real money, so trust is working so far.

But does it all remind you of the company that used to accept your money and promise to do your worrying for you? Or how about virtual gift giving, which enjoyed a flurry of attention in the media a while back. (The gift company will e-mail your friend that you “bought” a virtual gift. The concept is based on the premise that it’s the thought that counts. VirtualGifts4U.com, for one, just asks you to support its sponsors.)

I took this picture at Boston’s South Station, where, during specified hours, a friendly young man will explain how you can buy bitcoins at this machine. I haven’t chatted with him, so I don’t know if he also explains that the value of your bitcoins can not only go up in an hour or two but go way down.

There is no significance to the fact that the machine is located right next to an endlessly running “If you see something, say something” security video.

Read Full Post »

I recently saw a National Geographic special about money and the central bank. The documentary took viewers into the vault at the NY Fed, where gold bars are stored. Although the security is really tight, anyone may sign up for a tour there. The film also went to places where cameras are usually not allowed, like the National Bureau of Engraving and Printing, which prints dollar bills.

It also went to offices deep underground in the gold and diamond district of New York City. I thought Suzanne would be interested to see the broker who buys gold. Being in the jewelry business with Luna & Stella, she naturally is aware that gold has been expensive since the economic downturn. The film showed the multilingual broker buying small bags of gold objects, which were then shown being melted down and made into a gold bar.

National Geographic has also blogged about the movie: “What Jake Ward of Popular Science magazine discovers in this one hour special is that without the engines that power the world’s financial systems, that world would grind to a halt.

America’s Money Vault follows 55 million dollars worth of gold as it makes its way down into the most valuable gold vault in the world. Hidden deep under the streets of New York City, hundreds of billion dollars in gold bars  …

“Jake goes behind the storefronts to see how everybody from the street level to the brokers make their money buying, selling and even finding gold. He meets Onikwa Thomas who calls himself the urban miner and claims to earn up to four hundred dollars a week off of gold specks found in the cracks of sidewalks.”  More from the documentary.

P.S. Speaking of Luna & Stella, Suzanne’s birthstone jewelry company, gold vermeil angel wings can make a lovely gift for the right person.

Photograph: National Geographic

Read Full Post »

There’s a theory that if you want information to stick, it helps to tie it to emotions. The Center for Community Capital at the University of North Carolina tested the idea with The Bold and the Bankable: How the Nuestro Barrio Soap Opera Effectively Delivers Financial Education to Latino Immigrants.

It’s all true: If a character you like goes bankrupt because of reckless behavior with money, you are likely to remember and apply the learning to your own situation.

Last week I had the pleasure of attending a theatrical production by teenagers from the Underground Railway Youth Theater who had written a script from interviews they conducted with 80 people of all ages. The teens asked interviewees about their experiences with money and how they felt about it. Some of the stories were quite moving, and the high school audience’s emotions were likely engaged as they were quiet as mice.

There was a talkback afterward. A few students wanted to know how to join Youth Underground.

From the group’s website: “Youth Underground serves youth ages 13-18 with stipend eligible opportunities to create theater together and in tandem with community-based organizations; and to showcase their work throughout the city, Greater Boston, and at Central Square Theater. Youth Underground holds both an academic year program and intensive summer residency with an annual Ensemble of 30 members. Youth Underground showcases work through performances, a youth driven Community Dialogue Series, and peer exchanges with local and global organizations.”

The Boston Globe has a good article on it.

Read Full Post »

%d bloggers like this: