1/19/21 Power Five

1. Student Debt is a Racial Equity Issue – “Any student debt forgiveness policy must address how systemic racism has intersected with our debt-financed higher education system to disadvantage borrowers of color. Predatory lending and federal student loan policies have exacerbated the racial wealth gap. Between 2000 and 2018, the Black-white wage gap for young graduates with bachelor’s degrees grew by 57 percent, driven by student debt. During the same 18 years, the median student debt for white borrowers nearly doubled from $12,000 to $23,000, while for Black borrowers, it quadrupled, increasing from around $7,000 to $30,000.”

2. Lack of Tiny Parts Disrupts Auto Factories – “Strong demand for gaming systems, personal computers and other electronics by a world stuck indoors has sucked up supplies of semiconductors, forcing carmakers around the world to scramble for the chips that have become as essential to mobility as gasoline or steel. Virtually no carmaker has been spared. Toyota Motor has shut down production lines in China. Fiat Chrysler Automobiles temporarily stopped production at plants in Ontario and Mexico. Volkswagen has warned of production problems at factories in China, Europe and the United States. Ford Motor said last week that it was idling a Louisville, Ky., factory for a week because of the shortage.”

3. Stoicism is Not a Philosophy – I don’t agree 100% but an interesting take…”They are often grouped in with other Greek Philosophers, but their writings aren’t the same. Most philosophers package ideas and arguments into books to spread their way of thinking. Reading and understanding philosophical writings is all you need to do to claim, with authority, your understating of that philosophy. Reading and understanding the texts of Stoic writers is merely the first step. Stoic writings aren’t arguments to support a world view, they are instructions, practices, and mantras. To truly understand Stoicism you have to practice it every day. Stoicism is not a philosophy that you believe or disbelieve, it is an action that you take or do not take.”

4. The Most Common Missteps of a First-Time CEO – “Small expenses add up over time and good CEOs (and fiduciaries) learn how to say “no.” If it’s not in the budget, there better be a good business reason for tacking on an expense.”

5. Ultimate Classic FM Hall of Fame – The UK’s top classical songs over the last 25 years. There’s more to classical music than Beethoven and Mozart!