Business - Page 5

Why High Earners Still Drown in Debt—and How to Break Free”

Written By Lexx Thornton It’s often assumed that a high income guarantees financial security. However, a surprising 62% of Americans earning over $300,000 annually struggle with credit card debt. This reveals that financial health is about managing spending, not just the size of the paycheck.   The primary culprits are lifestyle creep and the ease of high-limit credit access:  Lifestyle Creep: As income rises, non-essential spending (e.g., luxury cars, large homes, high-end travel) grows with it, often outpacing earnings. The desire to maintain a high standard of living or “keep up” justifies excessive costs.  The Credit Trap: High earners easily secure

Costco Sues Trump Administration Over IEEPA Tariffs

By Steve Kopack and Gary Grumbach Costco Wholesale has sued the Trump administration, asking the Court of International Trade to consider all tariffs collected under the International Emergency Economic Powers Act unlawful. The company said in a filing Friday that it is seeking a “full refund” of all duties under the act paid as a result of President Donald Trump’s executive order that imposed what he called “reciprocal” tariffs. “Because IEEPA does not clearly authorize the President to set tariffs … the Challenged Tariff Orders cannot stand and the defendants are not authorized to implement and collect them,” Costco’s lawyer writes in the

Fulton County Proposes Tax Hike to Fund Jail Consent Decree

Written By Lexx Thornton Fulton County residents, including many in Atlanta, are facing the prospect of a property tax increase as the County Commission seeks to secure funding for court-mandated improvements to the dilapidated Fulton County Jail facility on Rice Street. The proposed budget for the upcoming fiscal year includes a specific tax hike designed to raise nearly $32 million to cover mounting costs related to a federal consent decree.  The need for the funds stems directly from a 2023 U.S. Department of Justice (DOJ) investigation, which found conditions at the jail to be “abhorrent” and unconstitutional, leading to a

TSA Proposes $18 Fee for Travelers Without REAL ID

Written by Lexx Thornton The Transportation Security Administration (TSA) has announced a proposed rule that would charge a non-refundable $18 fee to domestic travelers who arrive at airport checkpoints without an acceptable form of identification (AFOID), such as a REAL ID-compliant driver’s license or a U.S. passport.  The proposed fee is intended to cover the costs associated with a new, “modernized alternative identity verification program” that the agency plans to implement for non-compliant travelers. This move is the latest development in the long-running process of REAL ID enforcement, which officially began in May 2025.  The $18 fee is designed to

U.S. Job Gains Rise but Unemployment Hits Four-Year High

Written By Lexx Thornton The U.S. labor market presented a confusing picture in September, according to the latest data from the Bureau of Labor Statistics (BLS). While the economy added an unexpectedly strong 119,000 non farm payroll jobs, the unemployment rate paradoxically edged up to 4.4%—its highest level in nearly four years.  This mixed data paints an uneven picture of the labor market’s health, challenging the Federal Reserve and economists as they seek to understand the underlying momentum of the U.S. economy.  The counterintuitive increase in the unemployment rate alongside job gains can be traced to one major factor: a

Johns Hopkins Expands Tuition-Free Aid for Students 2026

Written By Lexx Thornton Johns Hopkins University (JHU) has unveiled a significant expansion of its financial aid policy, establishing a tuition-free undergraduate education for students from families earning up to $200,000 annually. The sweeping change, which applies to undergraduates at JHU’s Homewood campus, is set to go into effect for current eligible students in the spring 2026 semester and for new, incoming students starting the 2026–2027 academic year.  This new commitment, backed in part by the transformational 2018 gift from alumnus Michael R. Bloomberg and continued successful fundraising, aims to ensure that socioeconomic status is never a barrier to attending

NVIDIA Expands AI Partnership With Howard at GTC Student Event

By Adriana Fraser This week, tech company NVIDIA hosted its GTC Student Experience event at Howard University, and representatives provided the campus community with insight into how the tech entity is revolutionizing and advancing AI with its HBCUs partnerships.  During the Oct. 27-29 NVIDIA GTC Washington, D.C., the company organized a two-day event on Howard’s campus. Students received free gear from the exclusive NVIDIA Gear Store truck Oct. 27. The broader campus community was invited to take part in a day-long NVIDIA-sponsored event Oct. 28 that included the “How to Accelerate Your Career in AI” panel discussion featuring Howard faculty, alumni, and representatives

Understanding UPS Peak Season Surcharges for Holiday Shipping

Written by Lexx Thornton For consumers and e-commerce businesses, the holiday shopping season—running roughly from October through mid-January—is synonymous with deep discounts and gift-giving cheer. But behind the scenes, it’s also a period of intense financial pressure, driven in large part by the unavoidable reality of peak season surcharges imposed by carriers like UPS.  Far from being a simple, across-the-board rate increase, UPS’s strategy is a complex, tiered system designed to manage historic package volumes and offset the astronomical costs of operating their logistics network during its busiest, most stressed period.  The peak season surcharge is a temporary fee that

Supreme Court Weighs $1-a-Day Detainee Labor Case Against GEO

Written by Lexx Thornton The U.S. Supreme Court is evaluating a major lawsuit that challenges the practice of private immigration detention companies paying detainees as little as $1 per day for performing essential maintenance work. The case has thrust the long-standing use of low-wage detainee labor into the national spotlight, with legal outcomes that could redefine contractor accountability and labor rights.   The class-action lawsuit targets The GEO Group, Inc., one of the largest private contractors operating facilities for U.S. Immigration and Customs Enforcement (ICE).  The plaintiffs, current and former detainees, argue that the work programs—officially known as “Voluntary Work Programs”—are

Texas Leaders Order Probe Into Texas Southern University

Written By Lexx Thornton Gov. Greg Abbott and Lt. Gov. Dan Patrick have ordered the Texas Rangers to investigate Texas Southern University on Monday after a new state audit found evidence of poor bookkeeping and financial mismanagement.   Patrick said he will discuss with Abbott and House Speaker Dustin Burrows a freeze on TSU’s state funding. It’s unclear if and when the freeze would go into effect and what impact it would have on TSU, one of the largest historically Black universities in the country.  In a letter to Patrick’s office and other members of the state Legislature’s Audit Committee, State

1 … 3 4 5 6 7 … 42
Close

Never Miss A Story

Covering HBCUS
and The African American Community