The Dow Jones Industrial Average and S&P 500 fell for the first time in three sessions on Tuesday.
It’s been a rough few weeks for the polling industry—one that has seen the very profession of polling publicly scrutinized and dissected in the wake of yet another disappointing presidential election. After failing to predict Donald Trump’s shocking rise to the presidency in 2016, most polls got it wrong yet again this year. Though Joe Biden’s victory over Trump turned out to be correct, on a national level, once all the votes are counted, it’s clear that the 2020 election did not yield the Democratic landslide many forecasted.
Polling website RealClearPolitics’ national average, which aggregates and factors the results of polls nationally, forecast a 7.2-point lead for Biden going into the election; in reality, the actual margin of Biden’s popular vote victory will likely come in at half that spread. In Wisconsin, where some polls predicted a double-digit winning margin for Biden, the Democrat ended up winning by only 0.7%, … Read the rest
In this ongoing blog series, we speak with WP Engine employees around the globe to learn more about their roles, what they love about the cities they work in, and what they like most about working at WP Engine. In this interview, we speak with Anna Romanowicz, a software engineer at our newest office in…
Women won key congressional races across the U.S. in 2020.
Kamala Harris will become the first woman, and person of color, to be Vice President. High-profile women of color won their election bids, including the four representatives—Alexandria Ocasio-Cortez, Ilhan Omar, Ayanna Pressley, and Rashida Tlaib—known as “The Squad.” New Mexico elected all women of color to its House delegation. Cori Bush will serve as the first Black congresswoman for Missouri. And the 117th Congress will boast a record number of Native American women.
Republican women are also in the spotlight, with some calling 2020 the “Year of the Woman” for Republicans.
The 2020 election has yielded important milestones, including record numbers of women candidates and an all-time high number of women elected to the House of Representatives. But these gains, while meaningful, are insufficient for meeting the goals of a representative democracy.
The Center for American … Read the rest
When Michael O’Leary and Warren Valdmanis first met at Bain Capital’s offices in Asia, both were more or less conventional members of the finance profession. And yet, years later, they would become the coauthors of a book arguing that American-style capitalism—including a “meatheaded” obsession with short-term profits—is doing dire damage. Our economic system, they argue, urgently needs a reboot.
In their recent book, Accountable: The Rise of Citizen Capitalism, they argue that Adam Smith–style invisible hand capitalism is ineffective—and out of date—and that companies need to reorient themselves to serve more than just shareholders (which, by the way, they don’t think are being served particularly well, either).
Both authors, who were on the founding team behind Bain’s first social impact investing fund under former Massachusetts Gov. Deval Patrick, spoke to Fortune about the rise of ESG (environmental, social, and governance) investing, the divestment movement (and whether it actually works), … Read the rest
But on the economic front, we’re continuing to see improvement. As states eased lockdown restrictions in the spring and summer, the economy switched from the worst contraction in history to one of the fastest recoveries. Indeed, the unemployment rate that hit a peak of 14.7% in April has since come down to 6.9% as of October.
That said, we aren’t out of the woods yet. More business failures are on the way as companies hardest hit by the pandemic run out of cash. Not to mention the weak labor market makes it hard for the employed to get raises and the millions of unemployed Americans to find a paycheck. We’re in recovery, but not all of … Read the rest