Authors Posts by Gina Young

Gina Young

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Gina Young is an MBA, licensed Teacher, Personal Finance Writer for SuperMoney and Examiner, and creator of Money Savvy Living, a blog covering topics on finance, family, and every day money-saving ideas. Throughout her career in finance, Gina has advised clients in the areas of investing, retirement planning, and personal finance. As a manager, she trained and educated employees on how to succeed in sales and marketing. Her most important role, though, is that of being a wife and mother of three boys.

Apple stock news

Apple stock newsIt was recently announced that Apple will roll out an online TV service. The service would offer about 25 channels, including channels such as: ABC, CBS and Fox. Apple has been dealing with Walt Disney Co, CBS Corp, Twenty-First Century Fox Inc., and other media companies to offer a “skinny” bundle with well-known channels like CBS, ESPN and FX. Apple’s service would be available across all devices powered by Apple’s iOS operating system, including iPhones, iPads and Apple TV set-top boxes. It is estimated that Apple’s TV service will cost about $30-40 per month.

This coming on the heels of Dish’s introduction of Sling TV, their $20 a month service for internet TV for devices such as Amazon Fire TV, Roku and Google Nexus Player for TVs, tablets, computers and smartphones. Dish’s programming will include: ABC, ESPN, TNT, CNN, TBS, Cartoon Network and Adult Swim, Food Network, HGTV, and Travel Channel.

HBO plans to roll out its HBO Now streaming-only service this year, and CBS launched its All Access online streaming service last October. Of course, there are already services such as Netflix, Hulu, and Amazon Prime that offer many shows, after they have originally aired, at rates around $8 per month for service.

The trend to view programs, that until recently have been viewed on TV, on smart devices, is more than just convenience. It is also about money.

“Price is what you pay, value is what you get.” This saying holds true for many things, however, when it comes to paying for a basic cable package of 200 channels—and you only care to watch maybe five channels—then the price that you are paying for the value is just not there. This has become more of a glaring issue for cable companies over the past decade.

As smartphone technology and internet services have been offering more and more options to customers to view their favorite TV shows when and where they want, it is undeniable that the traditional television cable package has taken a hit. Another factor leading, especially millennials, to opt for low-cost convenience options has been a sluggish economy. With the cost of cable services continuing to remain high, and technology enabling companies to offer low-cost alternatives, millennials are choosing to save money on these types of services.

So why is it such a big deal for Apple to get involved in this? Well, it is probably more likely for a millennial to own an iPhone rather than a TV. If customers will be able to watch a handful of channels that they really want, and don’t have to pay for that expensive 200-channel cable package, then we may be seeing a huge change in market demand. Will cable be able to grow and change with this trend, or is this the end of cable?

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Cost Of Education

Cost Of EducationAs thousands of students across Ohio became the first in the nation to take the state-wide mandated PARCC tests last week—new standardized tests from the Partnership Assessment of Readiness for College and Careers—many parents are still concerned. From the more limited groups that have implemented testing in various states over the past couple of years, the tests have proven to be problematic—testing children over content that is not age appropriate, material that is two to five years above grade-level, basing teacher evaluations on the outcomes of these test results (the passing rate is only expected to be 20-40%), to name a few of the issues.

It is also notable that Pearson landed the major contract, as approved by the PARCC consortium, to administer these tests aligned to the common-core standards, a project described as being of “unprecedented scale.”  For a contract of such an “unprecedented scale,” one might assume that competition was fierce; however, after interest from several companies, Pearson ended up being the only bidder.

Aside from the concerns over the actual tests and their validity, there is the issue of the politics and business deals that take place behind the scenes. While so many parents and teachers nationwide are speaking out against Common Core and the newly implemented standardized tests, it only makes sense to look to the company producing the tests and their political and business ties to find answers.

According to Pearson’s 2013 Annual Report, North American Education is Pearson’s largest business, bringing in 2,779 million in British Pounds, or $4.3 billion; Adjusted Operating Profit was 406 million British Pounds, or $625 million. Needless to say, the United States’ increased attention to standardized testing over the past couple of decades has been a prime target on which Pearson has been able to focus.

Pearson software grades student essays, tracks student behavior, even diagnosing attention deficit disorder. The company also oversees teacher licensing exams, trains teachers once they’re in the classroom through continuing education; Pearson advises principals—even going as far as paying for trips for school administration officials from across the country to trips abroad, to conferences where the only education company represented was Pearson, until the New York attorney general cracked down on this practice in 2013. Pearson also operates a network of three dozen online public schools, as well as being a co-owner of the for-profit company that now administers the GED.

A top executive boasted in 2012 that Pearson is the largest custodian of student data anywhere—and that’s just its K-12 business.  Its marketing materials boast that its consultants can help them “stay one step ahead” of federal regulations. “But the POLITICO review found that public contracts and public subsidies — including at least $98.5 million in tax credits from six states — have flowed to Pearson even when the company can’t show its products and services are producing academic gains.”

Even with the less than sterling history that seems to be apparent with Pearson, my own home state of Ohio has not only signed on to Common Core, but also the PARCC consortium, implementing the new form of standardized tests.

Just a few days ago, on a trip to South Carolina to pitch a federal balanced-budget proposal, Kasich commented on Common Core, and his reaffirmation of it: “That is not something that Barack Obama is putting together. … It’s local school boards developing local curriculum to meet higher standards. I cannot figure out what’s wrong with that. …To a large degree, it’s a runaway Internet campaign, as far as I’m concerned in Ohio.” The comments reverberate ones the he made in January when he told Fox News the only people opposed to the educational standards are “running for something.”

While Kasich may be trying to downplay the backlash in his own state and across the country, it may be more of a concerted effort on his part to ignore the issue and detract from his own reluctance to address actual solutions because the outcry from parents and teachers reveal objections, which are based out of legitimate concern for education system—not because every parent or teacher is “running for something.” This isn’t political for parents and teachers.

Next year, if the PARCC tests are fully implemented, many students will be tested up to 12 times in one year; that is anywhere from 18-24 hours dedicated to testing, not including the time that it takes to prep students for these tests— which is valuable classroom time being taken away from what should be going on in classrooms—actually allowing teachers to teach students for the purpose of acquiring knowledge, not preparing them to pass an arbitrary test.

So why is Governor Kasich so reluctant to address the concerns of his constituents? The answer may very well be found in the fact that a large division of Pearson resides in Columbus, Ohio. It may also be in the money (from the Race to the Top Grant) and the new jobs that it brought to Ohio:

$400 million in Race to the Top Grant money:

$206 million split between 437 districts and charter schools. The divvying up of Ohio’s Race winnings begins with $206 million going to participating districts and charter schools. The remaining $194 million will be spent by the Ohio Department of Education for statewide impact.

Most of the 33 Education Department positions have been filled, at base salaries budgeted from $63,000 to $135,000.

For each staffer, the budget also allows for:

  • A 1.5 percent annual cost-of-living adjustment.
  • Fringe benefits at 28 percent of the base.
  • Travel reimbursements of $2,500 a year.
  • A $1,200 computer plus annual maintenance costs.
  • $10,000 a year for supplies.

The 16 regional specialists will work with local districts. The budget puts their salaries and benefits at $115,000 a year, plus $25,000 a year for travel costs.

Each job description for a state-funded position warns that it will disappear when the Race money runs out in 2014.

So where will the money come from now? To continue to implement these standards, will states not have to come up with the funding?

Or perhaps, the governor is remaining steadfast to Common Core because of the heavy-handed ramifications from the federal government for repealing Common Core. It is important to note that states that adopted the federal government’s Common Core standards, received a waiver from implementing No Child Left Behind, which left control and implementation of the law up to the states.

Recently, Oklahoma repealed Common Core, without providing an acceptable alternative to Common Core, and reverting to the state’s former academic standards, the Oklahoma Priority Academic Student Skills standards. Without providing an acceptable alternative, as determined by the federal government, Oklahoma is now subject to the consequences of No Child Left Behind of: providing tutoring services and public school choice options no later than the 2015-16 school year, however schools that will need a total overhaul must begin that process this school year.

Oklahoma Gov. Mary Fallin said in a statement: “It is outrageous that President Obama and Washington bureaucrats are trying to dictate how Oklahoma schools spend education dollars because of overwhelming opposition from Oklahoma parents and voters to Common Core, Washington is now acting to punish us. This is one more example of an out-of-control presidency that places a politicized Washington agenda over the well-being of Oklahoma students.”

“This marks the first time the Education Department has stripped a state of its waiver on the grounds of academic standards. This is obviously dicey water for the Secretary [Arne] Duncan, given growing opposition to Common Core.” said Anne Hyslop, a senior policy analyst for Bellwether Education Partners.

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