NEW YORK (Reuters) – U.S. stocks have more than doubled since the financial crisis and are closing in on a five-year high, but many Main Street investors have been absent from the party – especially those with the least saved.
Those who missed much of the rally did so because they reduced equity exposure after the benchmark S&P 500 index plummeted 57 percent between late 2007 and March 2009, according to an analysis by Reuters of mutual fund flows and changes in assets held in retirement accounts. Investors with the smallest savings typically saw the lowest percentage recovery in returns.
NEW YORK, Sept 30 (Reuters) – U.S. stocks have more than
doubled since the financial crisis and are closing in on a
five-year high, but many Main Street investors have been absent
from the party – especially those with the least saved.
Those who missed much of the rally did so because they
reduced equity exposure after the benchmark S&P 500 index
plummeted 57 percent between late 2007 and March 2009, according
to an analysis by Reuters of mutual fund flows and changes in
assets held in retirement accounts. Investors with the smallest
savings typically saw the lowest percentage recovery in returns.
NEW YORK, July 23 (Reuters) – U.S. public pension funds are
expected to report poor annual returns in the coming weeks,
results that are likely to increase calls for more realistic
retirement promises for teachers, police officers and other
At least three of the nation’s largest U.S. public pension
funds have already announced returns o f b etween 1 p ercent and
1. 8 p e rcent, fa r below the 8 percent that large funds have
NEW YORK (Reuters) – For generations, most college-bound Americans paid reasonable fees to attend publicly financed state universities.
But the bedrock of that system is fracturing as cash-strapped states slash funding to these schools just as attendance has soared. Places like Ohio State, Penn State and the University of Michigan now receive less than 7 percent of their budgets from state appropriations.
NEW YORK, May 28 (Reuters) – Kate Carpenter and her husband
waited for two years before sensing the time was right to look
to buy a home in the suburbs of New York.
“This is the first time homes are at an affordable point,”
said the freelance writer, 35.
NEW YORK May 24 (Reuters) – It’s been less than a week since
Facebook went public, and while the IPO made CEO Mark Zuckerberg
and many others very wealthy, the botched way in which the
offering was done has sparked investigations, lawsuits and
regulatory threats. It has also sparked a lot of anger toward
the social media company, lead underwriter Morgan Stanley and
the Nasdaq stock market.
Here is a list of eight things that went wrong with the
Facebook IPO – a “what not to do list” for the next big
technology company considering a public listing, compiled from
interviews with investors, traders, analysts, attorneys and
NEW YORK, May 16 (Reuters) – When Jennifer Anderson’s family
could no longer afford their mortgage and lost their home, she
expected many years to pass before they would again become
But less than two years later, in March, they purchased a
$297,000 house outside Phoenix, Arizona, after qualifying for a
loan backed by the U.S. government.
NEW YORK (Reuters) – Sean Chua expected the hunt for his first job after college to be tough. After all, he watched his brother struggle to find a position when he graduated back in 2008. But his fears were unwarranted. The 21-year-old justice major at American University sent out only seven resumes before getting an offer earlier this month from IBM for an IT consulting job, making him a beneficiary of a turnaround in the labor market for U.S. graduates. “My mom’s first position was with IBM so she is particularly proud,” says Chua. Hiring is back in a big way on many college campuses, one of several signs a recovery in the U.S. jobs market is gaining traction. After four years during which many students graduated to find no job and had only their loans to show for their studies, most college campuses are teeming with companies eager to hire. A survey by the National Association of Colleges and Employers (NACE) found 2012 hiring is expected to climb 10.2 percent, above a previous estimate of 9.5 percent.
Companies such as General Electric, Amazon, Apple and Barclays Global are looking for new staff, even if some firms remain below the pre-recession levels of new hiring. In another sign of the recovery, some first-time job seekers are receiving multiple offers.
(Refiling to fix headline)
NEW YORK, March 22(Reuters) – Rebecca Levey, co-president of
the Parent Association at the William T. Sherman School in New
York, is terrified about the school’s upcoming auction. A team
of experienced volunteers is managing the March 24 event which
will be held at a St. Paul’s the Apostle Church, and the stakes
The parent association at this Manhattan public school hopes
to raise about $300,000 from the event. That money helps pay for
a librarian, kindergarten assistants and numerous enrichment
programs – including chess and ballroom dancing – no longer
funded by the district. Overall, the parent association budget
is now $600,000, three times as much as it was when Levey’s
9-year-old twins started kindergarten at the Upper West Side
school. “The school budget really just covers staff,” she says.
NEW YORK (Reuters) – Kathy Frederick always assumed she would retire from her hospital administration job when she was around 60.
But as that date neared, she realized she wasn’t ready. She was healthy, enjoyed the work and liked the paycheck. So she decided to stick around. Now 65, Frederick works two days a week on special projects for Scripps Health’s human resources department in San Diego.