ReportWire

Tag: Economics

  • UMD Smith Expert Weighs in on Market and Financial Implications of an Elon Musk Buyout of Twitter

    UMD Smith Expert Weighs in on Market and Financial Implications of an Elon Musk Buyout of Twitter

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    With Elon Musk’s offer to proceed with a $44 billion acquisition of Twitter, Clinical Professor of Finance and stock market expert David Kass at the University of Maryland’s Robert H. Smith School of Business says:

    “It now appears that Musk will acquire Twitter for $54.20 per share as he originally agreed.  The shares will then cease to trade publicly but could be reissued as an IPO in the future. I would expect Musk to use his innate creativity and genius to turn the company around and greatly expand its services in the years ahead.”

    Kass has served as an economist in senior positions with the Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis. 

    He also is active on Twitter (@DrDavidKass) and blogs about Warren Buffett, Berkshire Hathaway and the stock market. 

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    University of Maryland, Robert H. Smith School of Business

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  • Economic Loss from U.S. Cigarette Smoking Topped Almost $900 Billion in 2020, New Study Shows

    Economic Loss from U.S. Cigarette Smoking Topped Almost $900 Billion in 2020, New Study Shows

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    EMBARGOED FOR RELEASE – 6:30 p.m., EDT – September 28, 2022

    Newswise — ATLANTA, September 28, 2022 — New findings by the American Cancer Society (ACS) found cumulative economic losses from cigarette smoking topped $891 billion in 2020, or 4.3% of the United States Gross Domestic Product. The economic loss significantly outpaced the cigarette industry’s $92 billion revenue by nearly a ten-to-one ratio. The study was published today in the journal The Lancet Public Health.

    This economic modelling study is one of the first to provide a comprehensive measure of economic loss from cigarette smoking on a state-by-state level. On average, states lost $1,100.00 per capita income annually from cigarette smoking. Kentucky ($1,674.00), West Virginia ($1,605.00) and Arkansas ($1,603.00) suffered the largest per capita income losses, while Utah ($331.00), Idaho ($680.00) and Arizona ($701.00) had the smallest per capita income losses.

    “Economic losses from cigarette smoking far outweigh any economic benefit from the tobacco industry — wages, and salaries of those employed by the industry, tax revenue, and industry profit combined,” said Dr. Nigar Nargis, senior scientific director, tobacco control research at the American Cancer Society. “As a society, we can mitigate these economic losses through coordinated and comprehensive evidence-based tobacco control measures, which encourage people to quit smoking and prevent people from starting to smoke in the first place.”

    The U.S. Department of Health and Human Services set the Healthy People 2030 goal to reduce smoking from 14% of the adult population in 2018 to 5% by 2030. According to study authors, reaching this goal through tobacco control efforts at the national, state, and local levels would considerably reduce the economic loss attributable to smoking.

    “The Healthy People 2030 goal provides an important target that will help reduce smoking and correspondingly the negative economic impact of tobacco use,” said Nargis. “In addition, hitting this target will help divert scarce resources away from treating tobacco-related illnesses towards growing market productivity and household income.”

    “The damage this industry causes on individuals’ lives and our nation’s economy is horrifying,” said Lisa Lacasse, president of the American Cancer Society Cancer Action Network (ACS CAN). “It’s particularly alarming, but not surprising, to see some of the states with the highest economic loss have the weakest tobacco control policies in place. We know what works to reduce tobacco use and lessen this burden and it’s past time we get it done. Passing policies proven to reduce tobacco use including regular and significant tobacco tax increases, adequate funding for tobacco prevention and cessation programs and comprehensive smoke-free laws has a huge impact on reducing tobacco-related diseases like cancer and addressing the financial burden this product poses on state economies and the nation.”

    Dr. Ahmedin Jemal is senior author of the study. Other ACS authors include:  Dr. Samuel Asare, Zheng Xue, Dr. Anuja Majmundar, Dr. Priti Bandi, Dr. Farhad Islami, and Dr. Robin Yabroff.

    Resources from the ACS on quitting smoking can be found here.

     

                                                                                                   # # #

    About the American Cancer Society The American Cancer Society is on a mission to free the world from cancer. We invest in lifesaving research, provide 24/7 information and support, and work to ensure that individuals in every community have access to cancer prevention, detection, and treatment. For more information, visit cancer.org.

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    American Cancer Society (ACS)

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  • Two Retired Economics Professors Team Up to Launch the Latest in High School Economics Education Curriculum for 2022

    Two Retired Economics Professors Team Up to Launch the Latest in High School Economics Education Curriculum for 2022

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    Innovative Educators Redefine Economics Education With RAeconomics, a ‘FREE’ Interactive Online Course for High School Seniors in Public Schools, Private Schools, Charter Schools, Homeschools, and for Parents at a Crucial Point in U.S. History

    Press Release



    updated: Sep 22, 2022

    During the heart of the pandemic, when face-to-face classes began to transition to online courses throughout the U.S., Steven Reff (vitae), retired economics lecturer who taught over 12,000 students during his last 10 years at The University of Arizona, and Eric Allmeroth (vitae), retired economics lecturer who taught AP Economics for 23 years and Principles of Economics at Lake Tahoe College for 21 years, teamed up to re-create their classroom course curriculum within an online environment by launching RA Economics. 

    Reff had already spent many years creating online curriculum content he applied to his face-to-face classes at U of A and Allmeroth spent years re-creating his classroom presentations into a video format for use in online economics courses at LTCC for 2020 and 2021. The collaboration resulted in the most significant, innovative, interactive, entertaining, and complete economics course curriculum for high school seniors currently available in workbooks, textbooks or online.  

    High school economics teachers can apply this interactive content on their classroom projection screens or students can access it simultaneously on their cell phones and tablets. Parents can also access this curriculum to test and track their student at home or apply it to a joint effort to study economics together.

    To create a better system both locally and nationally, citizens must become economically literate. This content extensively prepares students for national and state-level economic exams and future college-level curriculum which enables teachers, students (and their parents) to be better informed, also increasing their knowledge base regarding various economic issues of today. High school economics teachers’ and students’ guestbook comments since 2006 will offer significant insight pertaining to the high value of the course content: https://reffonomics.com/guestbooksignings.html.

    Most importantly, this course curriculum is “free” to anyone with a desire to explore economics concepts. Sign up here: https://online.reffonomics.com/courses/economics

    “Those who have never made a systematic study of economics are hampered in even thinking about national issues. They are like deaf people trying to listen to a symphony. Give them hearing aids and they may still lack talent, but at least they have a fighting chance of sensing what music really is.” — Paul Samuelson, Nobel Prize Winner in Economics

    Email Contact: RAeconomics2022@gmail.com

    Source: RA Economics

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  • Wind turbines recoup the energy required to build them within a year of normal operation

    Wind turbines recoup the energy required to build them within a year of normal operation

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    There may be two sides to the debate about certain aspects of wind power, but the amount of oil they use is not one of them. 

    Despite the numbers, memes continue to make the rounds on social media claiming the technology is worthless because of the costs to produce them, and the oil required to lubricate its gears. 

    For example, one Twitter post reads, “the turbine has to spin continually [sic] for 7 years just to replace the energy it took to manufacture.” See other similar posts here, here and here

    The fact is that wind turbines recoup the energy required to build them within a year of normal operation, according to researchers, earning these claims a rating of False.

    Jack Brouwer is a  professor of mechanical & aerospace engineering at the University of California, Irvine. He is also the director of UCI’s Advanced Power and Energy Program and the National Fuel Cell Research Center.

    I refute the claim that “wind power is inefficient and unnecessarily expensive.”  Data regarding wind power costs has been published by many organizations, for example by the International Renewable Energy Association (IRENA) as presented below, which show that wind power costs have been dropping very significantly in the last decade and are becoming competitive with fossil fuel combustion power generation prices on an energy basis (note current prices for onshore wind less than $0.05/kWh and for offshore wind less than $0.10/kWh).  And these prices are likely to continue to decline into the future as the market size and turbine sizes continue to increase.  Regarding the inefficiency claim, wind turbines can convert wind energy into electricity at efficiencies in the range of 20-40%, but efficiency is an inconsequential metric that should not be used to determine the value of wind power since the input wind energy is renewable and available at zero cost, which is very different from the efficiency metric as applied to fuel generation for which fuel must be purchased.

    Stephen C. Nolet, Principal Engineer and Senior Director, Innovation & Technology at TPI Composites, Inc. has this to say…

    There are “notionally” many studies that have offered different conclusions (depending on the bias of the author). However, the consistent response I have seen which always contains a range of time (based upon turbine and siting conditions) report that the embodied energy of the installed turbine (which includes the entire energies in materials, transportation, erection and projected O&M over the life of the turbine) is returned in operation between 4 – 7 mo (120 to ~200 days).

    Mark Bolinger, an engineer at Lawrence Berkeley National Laboratory has this to add…

    “With proper maintenance, wind turbines should be expected to operate for 20 years or longer (industry projections these days are more like 30 years), which means that over their lifetime, wind turbines repay their energy debt many times over.” 

    “Wind is one of the cheapest forms of electricity generation that exists today.”

     

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    Newswise

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  • Parenting 101: Back to school organizing tools

    Parenting 101: Back to school organizing tools

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    Whether “back to school” is in your family’s vocabulary or not, September often rhymes with back to regularly scheduled programming for most families. It also tends to be a time when customers and friends like to pick my brain about my best tips on how to get organized for as smooth a return to routine as possible. So, I thought I would share three of my favourite things that keep our family of five organized!

    1 – Homework station: Whether it be ensuring homework gets done or keeping your toddler busy while you (try to) prepare dinner, it’s a great idea to have a dedicated area to house the supplies you need to keep your little people occupied!  

    After using the corner of a kitchen counter for a couple of years it became obvious that clutter always resulted, no matter what system I tried. No magazine rack, mason jar or binder could keep clutter at bay!  Then (insert angels singing) the IKEA RASKOG cart came into my life! Three levels. Nice design. This cart is awesome. We put our family binder, school workbooks used at home, one mason jar filled with homework supplies per child (sharpened pencils, erasers, red markers, rulers, etc), music books for the family’s resident violinist, etc. When homework comes around, each child takes his mason jar and sits down to do their homeowork. We always know where to find our stuff now, and it even looks stylish!

    We also keep busy bags and other activities for the youngest member of our family. Our 4-year-old has special needs, so kinetic sands and other activities are a great way to keep him busy and help him develop better motor skills.  The cart is the perfect spot to hold all of this and any other activities to give me a few minutes of uninterrupted time to cut those vegetables. It also makes him feel like he’s doing his homework just like the big kids!

    2 – Label maker: I used to think label makers were limited to office use only, but now I couldn’t live without them at home!  

    At the beginning of the school year I always order personnalized labels for each of my children, but there are always particular items that need their own special label. For example, for lunch containers, at our kids’ school, each container needs to be labeled with the child’s grade level, on top of which child it belongs to. Enter the label-maker. Surprisingly, they withstand quite a few washes before having to print a new one! It’s also great to label bins of outgrown clothes for the next child who uses them, or to label the files of memorabilia you’ll want to keep from each school year. I’m a big fan of the P-Touch, and always recommend that my friends buy their tape refills from Amazon. They are amazingly cheaper than in stores!

    3 – Lunch containers with compartments: Did anyone prepare you for the daunting task of school lunches?  I mean seriously. If preparing lunches wasn’t enough, you also have to factor in washing all those containers into your agenda… So, the magic of lunch containers with compartments is significant. You can transform six parts to be washed into just two. Think about it! Say you save two minutes washing, drying and putting away these containers. That’s six hours per year… or roughly six episodes of Game of Thrones. Priorities…

    So, game on! It’s a busy time of year, but integrating organizing solutions is so worth it! You’ll gain so much time in the long run!

    While we’re on this topic, what are your favourite organizing tools related to back-to-school?  

    Mylène Houle Morency is a Professional Organizer, speaker, and owner of FLO Organisation, which specializes in organizing families with children ranging from newborn to the teenage years. She has the firm conviction that organized homes help parents become the parents they want to be, by freeing up time and diminishing stress. She has the privilege to lovingly test all her theories and organization inspirations on her husband and three children!

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  • Supermom In Training: The ultimate contest for kids, big and small

    Supermom In Training: The ultimate contest for kids, big and small

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    MadeGood and Nintendo Switch have one key thing in common: they’re not only beloved by kids, but they’re also products that parents can feel good about. With the nutrition and fuel you want in MadeGood’s veggie-packed snacks, and with fun…

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  • The increase in funding for the IRS is not going create an army of agents that will come after you

    The increase in funding for the IRS is not going create an army of agents that will come after you

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    The Inflation Reduction Act that President Biden signed on Tuesday includes a $79 billion injection for the Internal Revenue Service (IRS). Many political figures and members of the media are reacting incredulously to this long-sought budget increase for the nation’s tax agency. In discussing this budget increase, Senator Chuck Grassley suggested in an interview on Fox News last week that the IRS “are they going to have a strike force that goes in with AK-15s already loaded, ready to shoot some small-business person in Iowa with these? Because I think they are going after middle class and small business people…” On August 11th, Fox News host Brian Kilmeade warned his viewers that “Joe Biden’s new army” of armed IRS agents could “hunt down and kill middle-class taxpayers that don’t pay enough.” We find these hyperbolic claims to be false. Although the IRS intends to hire more people, Treasury Department officials say not all new hires will work on enforcement and increased revenues won’t come from middle-income earners. Treasury Secretary Janet L. Yellen directed IRS Commissioner Charles P. Rettig not to use the new funding to increase enforcement of taxpayers earning less than $400,000. The IRS is a bureau of the Treasury Department.

    Overall, IRS audits dropped by 44% between 2015 and 2019, according to a 2021 Treasury Inspector General for Tax Administration report. Last year the Treasury Department had proposed a plan to hire roughly 87,000 IRS employees over the next decade if it was allocated enough money. The IRS will be releasing final numbers for its hiring plans in the coming months, according to a Treasury official. But those employees will not all be hired at the same time, they will not all be auditors and many will be replacing employees who are expected to quit or retire.

    As reported by AP

    The IRS currently has about 80,000 employees, including clerical workers, customer service representatives, enforcement officials, and others. The agency has lost roughly 50,000 employees over the past five years due to attrition, according to the IRS. More than half of IRS employees who work in enforcement are currently eligible for retirement, said Natasha Sarin, the Treasury Department’s counselor for tax policy and implementation.

    Budget cuts, mostly demanded by Republicans, have also diminished the ranks of enforcement staff, which fell roughly 30% since 2010 despite the fact that the filing population has increased. The IRS-related money in the Inflation Reduction Act is intended to boost efforts against high-end tax evasion, Sarin said.

    Albany Law School Professor Danshera Cords shares her insight on this budget increase to the IRS…

    The Inflation Reduction Act appropriated $79 billion over 10 years to the IRS to improve three areas: taxpayer service, enforcement, and operations. Since 2012, it has been widely reported on the degree to which budget appropriations have resulted in declining service levels, aging IT, and falling staffing levels. Commissioner of the Internal Revenue Charles Rettig, an appointee of President Trump, has repeatedly sought budget increases to jump start the hiring and technology to more sophisticated audits of higher income individuals, businesses and crypto-assets. Given the aging infrastructure, computer systems that are out of date, and a filing backlog, the expenditures have long been needed.

    This appropriation is intended to help implement a plan to improve the IRS’s infrastructure in each of these areas. According to IRS data, in FY2012 the IRS had nearly 90,000 full-time employees. As a result of budget reductions, retirements, hiring freezes, the number of employees had dropped 12.9% to 78,661 in FY 2021.

    Restoring the IRS to previous staffing levels with new employees is more likely to help the average taxpayer than threaten them in any way. Moreover, hiring new enforcement staff including auditors, requires time and new personnel need training. Within its FY2021 budget, examination and collections personnel comprised more than five times the budget as investigations, consistent with prior years. New initiatives to combat fraud in higher income brackets require more sophisticated technology and better trained personnel.

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    Newswise

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  • Parenting 101: 4 Great back-to-school products to start your school year off right

    Parenting 101: 4 Great back-to-school products to start your school year off right

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    It’s hard to get back into the swing of things when school is back in session. Here are 5 great back-to-school products to start your school year off right.

    IKEA Canada has some great products to help your whole family stay organized. Their solid oak hooks paired with a great pegboard, a few storage stools, and some mismatches storage baskets can turn an entryway into a functional place to keep school essentials.

    If your child will be riding their way to school, make sure they’re protected and safe. The Raskullz Child Bolt LED Multisport Helmet has two light modes as well as an auto shut-off. 

    Streamline morning routines and post-school handwashing with Moen’s MotionSense Wave touchless technology. This unique fixture features a single sensor on the faucet base that provides hands-free control, so you can turn water on and off with just the wave of a hand.

    Kids always need a second set of running shoes to leave at school, and Skechers are a reliable brand for kicks that will withstand all the wear and tear of a school year. For boys, check out their Game Kicks: Gametron runners – they come in two colours and are made from lightweight mesh with an air-cooled memory foam insole. For the little ladies, I love their Unicorn Dreams shoe, which are laceless, lightweight, cushioned, and they even light up!

    – Jennifer Cox

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  • Supermom In Training: Our master summer wish list

    Supermom In Training: Our master summer wish list

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    What’s on our summer wish list? Oh, lots of things! I’ve kept a list going on my phone for the last few weeks, so when we’re looking for something to do, or I hear the dreaded kid-words “I’m bored,” I’m ready!

    Visit the Botanical Gardens 

    Go to Chambly Fort

    Day at Ile Saint Bernard

    Beach day(s) at Cote Ste Catherine Beach

    Voiles en Voiles

    Rent paddle boats at Old Port 

    Visit Douglass Beach 

    Keep a summer journal. Write and draw in it, put keepsakes, put photos 

    Trace our family tree

    Create a fundraiser 

    Open a store and sell something homemade

    Build a bike ramp 

    Have a coloured water gun fight in white t-shirts 

    Play tennis 

    Game of mini golf 

    Geocaching 

    Scary movie night 

    Flashlight tag

    Cook-off contest, much like a reality cooking show 

    Make-your-own drink bar with juices, fruits, fun straws, etc.

    Make a music video

    Invent a product, come up with a slogan and make a commercial 

    Paint rocks and hide them 

    Make an escape room 

    Eat in the pitch dark

    Make homemade ice cream 

    PJ Day

    Christmas in July 

    Family talent show with Zoom 

    Video games in the backyard with friends 

    Movie night in the backyard with friends 

    Swap day: Kids are the adults and the adults are the kids

    Yes Day

    A full-time work-from-home mom, Jennifer Cox (our “Supermom in Training”) loves dabbling in healthy cooking, craft projects, family outings, and more, sharing with readers everything she knows about being an (almost) superhero mommy.

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  • ZUMA Wire Update: Melinda Gates Launches Tech Plan to Reduce Poverty Across Africa

    ZUMA Wire Update: Melinda Gates Launches Tech Plan to Reduce Poverty Across Africa

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    New Global Commission Will Examine How Emerging Technologies Can Benefit The Poorest

    Press Release



    updated: Jan 30, 2018

    ZUMA Press Wire Service has news on Pathways for Prosperity, a new organization launched by Melinda Gates, co-chair of the Bill & Melinda Gates Foundation; Minister Sri Mulyani Indrawati, minister of finance of Indonesia; and Strive Masiyiwa, founder and executive chairman of Econet.

    Pathways for Prosperity: Commission on Technology and Inclusive Development was launched in Nairobi to discuss the need for a global conversation on the role of technology in driving progress and inclusion in developing countries.

    The new commission will provide evidence and analysis, along with concrete policy recommendations, to help developing country governments navigate this rapidly evolving landscape and will be led by the Blavatnik School of Government at Oxford University.

    The new technologies include the use of artificial intelligence (AI), automation, robotics, nanotechnology among others, which will be used to spur inclusive growth and effective governance. The new commission will find what technology can do for jobs and economic opportunities in developing countries. The commission will also investigate how emerging technologies can be harnessed for use in the poorest countries to tackle problems and enhance economic opportunities.

    The commission will examine how emerging technologies like automation, robotics, and artificial intelligence will disrupt job creation, the geography of value chains, and economic growth. The hope is the $5 million study will foster inclusivity and provide recommendations to governments to spur innovation and help reduce the fear around digitation and machine learning.

    Source: ZUMA Press

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  • abilityJOBS.com Surveys “The Good, the Bad & the Ugly” of the 2016 Presidential Election

    abilityJOBS.com Surveys “The Good, the Bad & the Ugly” of the 2016 Presidential Election

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    Press Release


    Oct 14, 2016

    ​​​abilityJOBS.com surveyed 40,000 job seekers with disabilities to ask the question, “Why Are You Voting?”

    A survey unlike any other in its size, scope and domain, abilityJOBS.com founder, Chet Cooper, and team launched some of the most intrinsic questions to the career site’s immense pool of job seekers with disabilities – the purpose?  To discover what is compelling a practicing professional or active job-seeker to ‘get out to vote’ in this 2016 election.  With the contentious match-up of Hilary Clinton and Donald Trump in play, Cooper knew the voices of PWD’s was a crucial one to assess.

    “We’ve dedicated ourselves to understanding the needs of unemployed people with disabilities (PWDs). This survey has brought a new level of awareness.”

    Chet Cooper, Founder & Editor in Chief, Ability Magazine

    The abilityJOBS team took a risk in asking their audience to speak up, especially in the unusual terrain of a campaign that has featured the controversial portrayal by Presidential candidate Donald Trump, of NEW YORK TIMES reporter, Serge F. Kovalevsky (who has cerebral palsy). Committing himself to put forth the opinions disabled workers play in the US GDP, Cooper said, “We’ve dedicated ourselves to understanding the needs of unemployed people with disabilities (PWDs). This survey has brought a new level of awareness.”  As the shepherd of the largest online source of employment resources for both corporations and PWDs, Cooper immediately saw the demand for INTEGRITY as a high note amongst the responses; “When you’re already expecting a lopsided playing field, the focus on ‘character’ and ‘trust’ becomes even more dynamic. It’s a game-changer – especially now.”

    Interested in what unemployed PWDs were voting for in a President, questions ranged from Homeland security to Immigration. For instance, “Is it important for a President to make GOOD on their promises to create new jobs?”—​readership resoundingly responded with a consensus of 85%.  Or “Do you feel the healthcare system is UGLY?”  “As far as BAD is concerned, we’ve seen quite a bit in this presidential race. PWDs make up the largest minority in the country, yet have been ignored as a significant voting power—56 million people can sway an election,” says Cooper.

    To participate in the 2016 Presidential survey please click here:  http://abilitymagazine.com/Survey-Job-seekers-with-disabilities-ability-JOBS-voting-Questions.html

    About abilityJOBS.com

    Established in 1995, abilityJOBS.com is the first career site dedicated to employment of PWDs. It houses the largest resume bank with tens of thousands of job seekers with disabilities, from entry level candidates to PhD.

    The goal of abilityJOBS is to enable PWDs to enhance their professional lives by providing a dedicated system for finding employment. By posting job opportunities, or searching resumes, employers can find qualified PWDs as well as demonstrate their affirmative action and open door policies.

    About ABILITY Magazine 

    ABILITY Magazine is the leading magazine covering Health, Disability and Human Potential. ABILITYMagazine.com is consistently ranked in the Top 50 Magazines in the World. AM is an award-winning publication, distributed by Time-Warner. For over 25 years, its mission has been to provide new insights into our individual levels of ability.

    From Diabetes to Spinal Cord Injury and celebrity interviews to CEO profiles, AM covers the latest on Health, Environmental Protection, Assistive Technology, Employment, Sports, Travel, Universal Design, Mental Health and much more. Writers include MDs, PhDs, JDs, best-selling authors, U.S. Senators and advocates. Cover interviews consist of Movie and TV Celebrities, Business Leaders, Sports Figures, Presidents, First Ladies and more.

    AM is first to embed VOICEYE (High Density code) on its editorial pages to hear print through smartphones and tablets—giving greater access to people with low vision, blindness or reading challenges in 58 languages.

    @REALabilityJOBS

    Press Release Contact: 
    Solution Road, Inc.  
    info@solution-road.com
    404 788 9650  
    http://solution-road.com

    Source: abilityJOBS.com

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