Wedding expenses to cost @ Rs 1.23 Crores... It can be a reality...




For a moment let's keep aside our thoughts on the socio-cultural environment which could emerge after 20 years.


If you were to spend about Rs 7.5 lakhs towards your daughter's wedding expenses now, can you imagine what would be the same cost look like after 20 years???





 Rs. 1.23 Crores




Yes, It may cost you about Rs 1.23 crores.. Or even more than that.. Can you see the price of gold shooting up @ rocket speed?..


Are you prepared for this scenario???


If not, prepare a financial plan right now to ensure your child's dreams....





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Meal Time - Break Times - Sick Time - Vacation Days: What Are The Laws in Pennsylvania? on These Things?

Many people believe that they are entitled to break times and meal times.  Just as many believe that they are entitled to vacation pay and sick time.  However, federal law, as embodied in the Fair Labor Standards Act ("FLSA") actually does not require that employees who work a regular 8 hour shift receive such benefits.

I know that sounds absurd, but the reality is that the FLSA requires only that qualified workers receive minimum wage and overtime (it also governs Child Labor laws).

Most states, including Pennsylvania, do not require break times or meal times.

However, if your employer has a policy or practice of providing any of the benefits listed above, then they must follow those policies and practices for all employees, or they may be liable under the FLSA, as well as under state laws such as Pennsylvania's Wage Payment and Collection Law

I typically see this arise where employers violate their own policy or practice regarding meal time or break time by forcing employees to work without such breaks, and then dock them pay as if they in fact had taken such breaks.

Example:  A non-exempt employee works 47.5 hour week, with supposed 1/2 hour a day of breaks, and 1 hour lunch.  Employee actually gets only 1/2 hour lunch break a day.  Employee is nevertheless paid for only 40 hours.  The employee is owed for 5 hours of overtime for that week.

If you believe that you are not being paid for all of the hours you work each week, you may want to consider contacting a qualified employment lawyer in your area.  There are serious penalties available for violation of the FLSA (use the Search Key in this Blog to learn more about such remedies), but you may not stand on your rights without action for too long, or your rights may be lost or limited.

More questions about overtime or the FLSA?  Click Here.

For more information on this topic, visit the Department of Labor's Website by Clicking Here.
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Pennsylvania Overtime Lawyer Explains the Basic Rules

The Fair Labor Standards ("FLSA") governs the payment of overtime to employees.  In Pennsylvania (as in many states) there is a state law that protects you as well; it is known as the Pennsylvania Minimum Wage Act ("PMWA").

Here are some buzzwords that you are likely to come across when considering your rights to overtime:

Exempt Employees: Employees who are NOT entitled to Overtime;

Non-Exempt Employees:  Employees who ARE entitled to Overtime;

Salaried Employees:  Employees who are paid an annual salary; although all employers treat salaried employees as exempt employees, that is not necessarily the case;

Exempt Professionals:  If you have an advanced degree that you use in your job you are an exempt employee; however, the mere fact that you have an advanced degree does not mean that you are not entitled to overtime.  For example, a person with a law degree who provides only paralegal services is still entitled to overtime;

Exempt Executives:  Generally, if you spend more than 50% of the time running the business or one of its departments, and have the authority to hire and fire employees, you are exempt from receiving overtime.  This is referred to as the Bona Fide Executive exemption;

Administrative Assistant Exemption:  if you perform office work that is DIRECTLY RELATED to management policies or general business policies, and exercise discretion and independent judgment on a regular basis, you are exempt from receiving overtime;

Outside Salesperson:  If you go on the road and sell products or services, and spend at least 80% of your time doing that, you are exempt from overtime under Pennsylvania law.  Obviously, if you spend less than 80% of your time doing outside sales, then you are entitled to overtime under Pennsylvania law. 

NOTE:  Many commissioned salespeople are not in fact exempt, despite being classified as exempt by their employer.  Typically, the rationale provided by the employer for exempting the employee from overtime is that the employee is deemed to be an outside sales person.  If you are paid on a commission, and are not in fact exempt, then you must, in addition to being paid overtime, be paid at least the minimum wage for all hours worked.

Computer Professionsals:  Under federal law, computer professionals are not entitled to overtime. However, under Pennsylvania state law, computer professionals are entitled to overtime.

Remember, the key is WHAT YOU DO - not how you are classified by your employer.  If you think you are owed overtime, you may want to seek an attorney.  FLSA prohibits the termination of an employee in retaliation for his/her demand for overtime. 

NOTE:  is not unusual for a company to classify a worker as an independent contractor in order to avoid overtime obligations.  While it is true that independent contractors are not entitled to overtime, it is equally true that, it is a common practice to incorrectly classify workers as independent contractors when in fact they are employees.  Therefore, you should not abandon your rights to overtime merely because you have been told you are an independent contractor, or because you agreed to work as an independent contractor.  The fact is, we've had many cases where independent contractors were eligible to recover overtime pay because they had been misclassified.

If you have to sue because you are owed overtime, you can win double damages - that is, double the amount of overtime to which you were entitled but were not paid.

If you are fired/demoted/denied promotion because you requested/demanded overtime, and therefore suffer a wage loss, you can win double damages - that is twice the amount of wages you lost as a result of being terminated.  If in fact you you were also deprived of overtime to which you were entitled, you can recover that as well (and double the amount!).

If you have a claim either for overtime or unlawful retaliatory discharge due to your seeking overtime, we will handle your case on a CONTINGENT FEE basis.  That means we do not get paid unless you win.
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Foreign education to cost @ Rs 1.23 Crores?!.. It's possible...








If you were to spend about Rs 15 lakhs for your child to pursue a foreign degree now, can you imagine what would be the same cost look like after 15 years???



 Rs. 1.23 Crores




Yes, It may cost you about Rs 1.23 crores for the same cost of Rs 15 lakhs if it is spent now...


Are you prepared for this scenario???


If not, prepare a financial plan right now to ensure your child's dreams....


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Time to revisit the financial resolutions...

It's time to revisit the financial resolutions you made for this year........








































 It's a month into the New year.... And it's time to revisit the resolutions we made in the beginning of the year..... The check list given below can help you with your financial resolutions.
  1. Am I saving?
  2. Am I saving enough? 
  3. Am I spending the right way?
  4. Am I deploying the saved money in the best investment options?
  5. Have I taken a comprehensive health cover?
  6. Have I taken a comprehensive life cover?
  7. Have I rationalized my debts?
  8. Can I retire some of them?
  9. Have I planned for my short term goal? (3 months - 1 year)
  10. Have I planned for my medium term goal? (1 year - 3 years)
  11. Have I planned for my long term goal? (3 years and above)
  12. Most of all, do I have a clear financial plan?
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Important and Tricky New Pilot Program For Pennsylvania Unemployment Hearings Regarding Overpayment Issues

Today, I was at an Unemployment Hearing before Referee Horowitz in Norristown.  He advised me that a new Pilot Program was being tested throughout Pennsylvania with regard to overpayment issues.  And I am not a fan.

In the past (and as I previously Blogged about in depth), if Claimants who had previously been receiving benefits were thereafter determined to be ineligible for benefits, they would receive two Notices at the same time: 1) a Notice of Determination stating they were ineligible for benefits (i.e. due to willful misconduct or voluntary quit); 2) a Notice of Determination that the benefits they received prior to the Notice of Determination regarding their ineligibility had to be paid back.  This latter Determination also included a finding as to whether the overpayment was an "at fault" overpayment (i.e. it is believed the Claimant lied on his/her application) or a "non-fault" overpayment (i.e. the Claimant told the truth in his/her application, but the UC Service Center nevertheless ruled against his/her eligibility.)

As discussed in my prior Blog, there would then be a Hearing on two issues: 1) whether the Claimant was eligible for unemployment (i.e. did not engage in willful misconduct or quit with good reason); and, 2) whether, if the Claimant was deemed ineligible for benefits by the Referee, he/she received an "at fault" or "non-fault" overpayment.  If you won the first issue, you automatically won the second.  If you lost the first, you could win the second anyway (i.e. establish that it was a non-fault overpayment, a virtual win).

Now, under this new pilot program, overpayment Notices of Determination will not be issued until after the Referee makes his/her determination as to whether the Claimant is eligible for benefits

I think this presents a bit of a problem.  First of all, Claimants who have already received benefits and are later ruled ineligible will not be put on notice that they may have to pay back the benefits they already received.  In fact, it is logical to conclude that some will think they will not have to pay them back. Second, it creates a great area of uncertainty for Claimants, who are unfamiliar with the unemployment process.  Third, since Claimants will not fully understand what is at stake in their Hearing, they are more likely to not show up, or to show up unprepared.

So here is what you need to know:  If you have already received benefits and are later deemed ineligible for benefits, and then lose the Hearing on the Referee on that issue, you will receive a second Notice of Determination advising you that it has been determined that you have an overpayment.  Although you can and should appeal that Determination, you will not at that overpayment Hearing be permitted to argue that you should be deemed eligible for benefits, because you will have already lost that issue!

I can already foresee many calls coming in from Claimants who have received overpayment determinations asking if we can at the Hearing on that issue "relitigate" the prior Referee's Decision finding them ineligible on grounds of willful misconduct or voluntary quit ("I didn't have a lawyer," "the employer lied," "I have evidence I did not submit," "I did not show up because...").  The answer will, sadly, be "No."  One bite at the apple is all that one gets.
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Monthly expenses @ Rs 2,42,000? It is possible.....






Let's assume you are spending Rs 25,000 every month towards your household expenses; can you imagine what could it cost in the future, lets say after 20 years???



It can cost you Rs 2,42,000 or even more a month to maintain the current monthly spending @ Rs 25,000...


You can still manage the rising cost of living if you have a sound and solid financial planning...


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What Companies Have the Best Leadership

According to the Hay Group, a worldwide consulting group, here are the Top 10:

1.  GE
2.  Proctor & Gamble
3.  Intel Corp.
4.  Siemens
5. Banco Santander
6.  Coca Cola
7. McDonald's
8. Accenture
9.  Walmart
10. Southwest

Click Here for the rest, along with some analysis from TLNT.
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Top Jobs for Baby Boomers in 2011

Age 46-64? Click Here for some excellent analysis from JobiJobs on the best jobs for the Baby Boomers (1946-1964) in 2011.
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You are working hard for your money, Is your money working hard for you?








It's very true that you are working really really hard to earn your money......

But have you ever realized if your hard earned money is working that hard for you.....




Take a look at this illustration:


If you keep Rs 10,000 in your bank account for about 20 years, the return you get out of it is currently @ 3.5% per annum.


In simple terms, Rs. 10,000 grows to Rs. 19,900 in 20 years.....




If you invest Rs.10,000 in an option which gives you about 12% returns per annum, do you know what would be the growth??? Take a guess...... Now look at the figure....






Rs. 96,500


Yes, by smartly investing the money, your wealth grows by 5 times in this case. 


That's the magic of financial planning.........


Do plan your finances smartly.





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Top Ten Best Retail Jobs in America

Click Here to see an excellent article from Forbes.com identifying the 10 best retailers to work for in America.
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Ten High Paying Entry Level Jobs

Click Here to review an excellent article on 10 high-paying entry level jobs from AOL.com. 

Click Here to see a study on the most valuable undergraduate degrees.

Click Here to read about the College Degrees that lead to the lowest paying jobs.

Want information on most and least valuable Master's Degrees?  Click Here.

Love or Money - which one is more important when picking a College Major?  It's your personal choice, of course.  My goal is to provide you with some food for thought (are my daughters at Pitt listening!).

Hope you find this helpful!
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12/10 Unemployment Rates Rise in 20 States, and Fall in PA and 14 Others

A little bit of disappointing news for December 2010: Unemployment rates rose in 20 states, and fell in 15 others.  This is basically a repeat of November 2010. 

In Pennsylvania, the news is a little better - the unemployment rate dropped to 8.5%, down .1%.

The attached Article from MSNBC provides additional information about the National unemployment situation.
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The Status of Social Security Retirement Funds - What You Need to Know

Thinking of retiring and enjoying the fruits of your contributions to Social Security?  Not so fast.

What is Social Security?

Social Security is a mandatory program (Est. 1937 by FDR) that requires you and your employer to contribute a percentage of your earnings (contributions are only required/permitted on the first $106,800 of earnings) to a fund established by the U.S. Government; the fund is used to help: 1) people who become disabled prior to retirement 2) the families of those who pass away prior to retirement; and, 3) those that reach retirement age. 

Medicare (subsidized medical insurance) also falls under the Social Security umbrella.

This Blog is primarily concerned with the status of Social Security for those who reach retirement age.
 
How Are the Funds I Contribute to Social Security Used by the U.S. Government?

Any excess funds (read: funds not immediately required to pay existing fund obligations) are invested into two Trust Funds. Initially, Social Security was a "pay as you go" program; that is, all benefits were paid out of current contributions by working Americans.  By 1983, it became apparent that this concept would not work as initially intended, so they increased payroll taxes and advised that the system would be good for the next 75 years. As of January 2009, the accumulated surplus in the Social Security Trusts is $2.4 trillion.

Current projections are that the current amounts collected will exceed the amounts being paid out until 2017.  At that point, if nothing changes, we will begin to tap into the Trust Funds.  Currently, the Social Security Administration says that the surplus will not be depleted until 2042.  However, that could change, depending upon how the U.S. economy (and thus the securities that make up the Trust Funds) perform.  Good economy - securities worth more - surplus continues perhaps indefinitely.  Bad economy - securities worth less - trust funds depleted prior to 2042.

Whether the Trust Funds actually exist (as opposed to being an accounting fiction) is a subject of debate.  Conspiracy theorists argue that the Funds have been used to fight wars and to hide federal deficits.  There really is no evidence of such raiding. That being said, it is clear that the program is stressed at some level, and that there is a real threat that it may not be sufficient to achieve its goals where future retiree generations are concerned.

What is the Retirement Age Under Social Security?

Perhaps the first question should be: when can I first receive retirement benefits from Social Security.  The answer is: at age 62.  However, you will not receive full retirement benefits if you stop working at 62. Presently, to receive the full value of your contributions to Social Security, you must wait until you are either age 65 (if you are born prior to 1960) or 67 (if you are born after 1960).

What is the Government Doing to Insure Social Security Will be There When I Need it?

There are a couple of "quick fixes" being considered by the Government, none of which are particularly appealing to most of us.  Generally, they consist of 1) raising the "full benefit" retirement age; 2) reducing benefits for higher wage earners; and 3) reducing the "cost of living" index for Social Security benefits, thereby reducing the amount of benefits to which you are entitled.

All of this is on the table right now.  Although Presidents are loathe to even talk about Social Security, it may even be addressed in President Obama's State of the Union address this evening.

The attached Article by Janet Novack of Forbes.com provides an excellent overview of the Social Security program, and what the future may hold for Baby Boomers (1946-1964), Generation X (1965-1982), the Millennial Generation (1982-2000) and the Techno-Generation (which is how I refer to those born after 2000).  She suggests that, to play it safe, we should all be investing in our own private retirement funds if we can afford to do so.  I tend to agree.  This idea is at the root of the recent movement to permit Americans to reduce their Social Security contributions so that they could invest the money themselves....Then, the Stock Market Crash of October 2008 hit....

The problem with establishing a private retirement fund is: many Americans don't have a job!  Corporate America has frozen pay raises for the past several years!  Many Americans will have to wait years to have any chance of  getting a job that pays them what they were earning in 2007!  And did I mention that the Great Recession has really put a dent in the amount of money contributed into the Social Security Funds over the past several years?

All right, all right - this does sound like doom and gloom.  However, we all have a right to be informed, and to hold the feet of our legislators and leaders  to the fire to make sure the common good is served.  That means opening up the economy so that new businesses and jobs can be created.  It looks like President Obama recognizes that, and I expect that will be his theme tonight. 

I have seen too many good, hard-working talented people come through my door seeking unemployment benefits over the past several years; now, I want to see them coming through with new job offers to analyze.
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Cost of college education @ 61 lakhs after 15 years...







If you were to admit your child now into a good college and spend about Rs 7.5 lakhs for the under graduate professional education, can you imagine what would be the same cost look like after 15 years???


It's going to cost you in the range of Rs 61 lakhs which is equivalent to the current Rs. 7.5 lakhs.....


Are you prepared for this scenario???


If not, prepare a financial plan right now...
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Moscow airport terror attack kills 31, wounds 168

REPRINTED FROM ASSOCIATE PRESS BY EMPLOYMENTLAW101.BLOGSPOT.COM
NATALIYA VASILYEVA and IVAN SEKRETAREV

The Associated Press

MOSCOW - A suicide bomber carrying a suitcase walked into Moscow's busiest airport and set off a huge explosion Monday, killing at least 31 people and wounding nearly 170.

The international arrivals terminal at Domodedovo Airport was engulfed by smoke and splattered with body parts after the mid-afternoon terror attack sprayed shrapnel, screws and ball bearings at passengers and workers. Hundreds of people were in the loosely guarded area at the time.

President Dmitry Medvedev immediately ordered authorities to beef up security at Moscow's two other commercial airports and other key transport facilities. He also canceled plans to fly out Tuesday to Davos, Switzerland, where he aimed to promote Russia as a profitable investment haven to world business leaders.

Monday's attack was most likely carried out by a suicide bomber and "attempts were being made to identify him," Investigative Committee spokesman Vladimir Markin said. The Interfax news agency said the head of the suspected bomber had been found.

No one immediately claimed responsibility for the explosion, which occurred at 4:32 p.m. (1342GMT). But Chechen militants have claimed responsibility for previous terror attacks in Moscow, including a double suicide bombing on the subway in March 2010 that killed 40 people and wounded more than 100.

The latest attack on the Russian capital also called into question Russia's ability to safely host major international sports events like the 2014 Winter Olympics in Sochi and the 2018 World Cup. It was the second time in seven years that terrorists had hit the Domodedovo airport: In 2004, other suicide bombers penetrated the lax security there, killing 90 people as they blew up two planes.

Large-scale battles in Chechnya ended years ago, following two devastating wars between Russia and the republic's separatists, but Islamic militants have continued to carry out suicide bombings and other attacks. Most of the attacks have been in Chechnya and other predominantly Muslim provinces in the southern Caucasus region, but some have targeted Moscow, including its subways, buses and trains.

In Washington, President Barack Obama condemned the "outrageous act of terrorism" and offered any assistance Russia might want.

Domodedovo Airport spokeswoman Yelena Galanova said 35 people were killed and scores were injured in the blast. The Emergencies Ministry, however, said 31 people were killed, 74 hospitalized with injuries and 94 were given medical treatment. The discrepancy could not immediately be explained.

Two Britons were among the dead, investigator Markin said.

Amateur video posted on YouTube showed a pile of bodies on the airport floor, and other bodies scattered around. Luggage lay strewn across the ground and several small fires burned. A dazed man in a suit pushed a baggage cart through the carnage.

A man in blood-soaked clothes said he was just a few yards (meters) away from the explosion and saw a man who may have been the suicide bomber.

"I saw the suitcase, the suitcase was on fire," said Artyom Zhilenkov, a 35-year-old driver. "So, either the man blew up something, or something went off on the man's body, or the suitcase went off."

Zhilenkov said he thought he had been severely injured, but doctors told him was just coated in other victims' blood.

"The guy standing next to me was torn to pieces," he said.

Car rental agent Alexei Spiridonov, 25, was at his desk when the blast struck about 100 yards (meters) away.

"The explosion was so strong that it threw me against the wall," he told The Associated Press outside the airport. "People were panicking, rushing out of the hall or looking for their relatives. There were people just lying in blood."

Yelena Zatserkovnaya, a Lufthansa official, said airport workers used baggage trolleys to cart out the injured.

"There was lots of blood, severed legs flying around," she said.

Prime Minister Vladimir Putin ordered health officials to make sure all victims received immediate treatment.

Sergei Lavochkin, who was waiting for a friend to arrive from Cuba, said passengers sprinted out of the terminal after the blast and emergency teams carried out those unable to walk.

"I heard a loud bang, saw plastic panels falling down from the ceiling and heard people screaming. Then people started running away," Lavochkin told Rossiya 24 television.

Aviation security experts have been warning since the Sept. 11, 2001 terror attacks that the crowds at many airports present tempting targets to suicide bombers.

"Airports are by their nature crowded places, with meeters, greeters, commercial businesses, and so on," said Philip Baum, the editor of Aviation Security International, a London-based publication dedicated to security issues.

Domodedovo was briefly closed to air traffic immediately after the blast, but soon reopened. Hours later, passengers arriving for their flights lined up outside waiting to pass through metal detectors that had been installed at all entrances.
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Cost of foreign holiday at 32 lacs???


Your foreign holiday would have cost Rs 2 lacs now.... Can you imagine what could it cost after 20 years for the same 2 lacs expenditure?

Hold your breadth, it's going to cost a mind boggling 32 Lacs for the same current cost of 2 lacs....

Are you prepared for this???

If not, prepare a financial plan right now....

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United States Employment Law in 10 Different Languages!

We have just added a Translate button to our Blog. If you or someone you know speaks Chinese, Dutch, French, German, Italian, Japanese, Korean, Portugese, Russian or Spanish, or best understands the written word in either of these languages, just go to our Blog and hit the Translate Key.  Our Website, http://www.johnagallagher.com/, also contains a translation feature.

Although some of our Blogs are directed to employment issues in Pennsylvania, many of them, such as those related to discrimination, retaliation, disability and compensation, deal with federal statutes such as Title VII, the Family and Medical Leave Act, the Americans With Disabilities Act, the Immigration and Naturalization Act, and the Fair Labor Standards Act.

We hope the translation feature will help citizens of our ever expanding Country understand their rights at work.  Maybe, too, it will help employers in other countries fashion fair and equitable employment policies.
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Gay or Lesbian? Here Are the Best Places to Work

The attached Article discusses the best places to work if you are gay or lesbian.  See also this Article.
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150,000 Jobs Available at Top Companies in America

Read the attached Article, and sharpen up those resumes!
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What Evidence Should I Gather for My Discrimination or Retaliation Lawsuit? Part II

One common question I get is as follows:  Can I take company records that help prove my retaliation/discrimination case?  To which I often answer - I can't tell you you can do that, but written evidence that supports your claim is the best evidence.  Recently, the New Jersey Supreme Court (its highest state court) said that it may be permissible for an employee to take confidential employment information in order to support a claim for discrimination or retaliation claim.  Naturally, the Court only sanctions taking copies - you cannot take the only copy of company documents with you under any circumstances.

The Court announced a quite useful "Totality of the Circumstances" balancing test in announcing its decision in Quinlan v. Curtiss-Wright Corporation.  Aggrieved employees and attorneys for both sides alike may find this case quite informative.

As I have suggested in the past (including Part I of this series), written evidence is the best evidence.  If you think you may have an employment related claim, start printing out and copying documents that you believe support your claim.  Do this on your lunch break or during non-working hours (you would hate to get fired for this - such conduct could be deemed a "legitimate non-discriminatory reason for your termination thereby defeating your claim!)
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What Evidence Should I Gather for My Discrimination or Retaliation Lawsuit? Part I

The title of my Blog asks a question that actually "puts the rabbit in the hat."  Perhaps it should actually be entitled "How Do I Create Evidence for My Discrimination or Retaliation Lawsuit."

That term, "create evidence," has a negative connotation, no?  But, allow me to explain.

The fact is, written evidence is the best evidence - particularly if the writing is clear and on point.  Verbal evidence, that is, a description of a conversation, is much more easily subject to disagreement, confusion or plain old fashion impeachment.  Whether we like it or not, many jurors or more inclined to believe "authority figures" such as HR Representatives, managers, supervisors and officers of a company than they are Jane or John Employee Trying to Win a Discrimination Claim.  Think - Police Officer versus alleged perpetrator.

So, why leave things to chance. If you make a complaint to HR about sexual harassment or racially insensitive behavior, put it in an e-mail.  Do not beat around the bush - come right out and say what you mean.

If you believe the company is retaliating against you because you demanded overtime, or just took and FMLA leave, report it - in writing - to HR. 

Anything you say to HR, copy your Boss on - after all, he/she is the one who controls your job and the decision as to whether to fire you or not.  And only decision-makers like your Boss can create liability on the part of the company. 

If HR or your Boss should call you or speak with you about your complaint, then confirm the conversation in an e-mail - chances are, they called you because they did not want anything in writing.  Don't let them undermine your right to protect yourself.

It seems to me that many of my clients recognize "the magic of written words."  However, they feel that putting their complaints in writing is too strong of an approach.  It seems that this logic goes like this: "If I complain verbally, the Company will not hate me as much as if I complain in writing."  Sorry, that's really not true.  The company will not be happy no matter how it is you state your complaint.

However, if you put it in writing, you will let them know you mean business, and will have much greater protection against at retaliatory wrongful discharge.
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Using the Internet to Look for a Job - What You Need to Know

The attached Article from Forbes.com has some excellent "dos" and "donts" about looking for a job on-line.  The article suggests that you should only use 10% of your job-search time on web-based job search vehicles. It also provides some very useful tips on what sites to utilize, and how to make the very best use of those sites.
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Weekend dinner bill @ Rs 16,400 ??!!! It's possible











Let's imagine a dinner costing you Rs 1000 for two at a restaurant over the week end..... Can you take a wild guess of what the figure could be 20 years later at the same restaurant for the same serving???

It can be a whopping bill of Rs 16,400 for the food which will cost you Rs 1000 now.....

Are you prepared for such a scenario?

If not prepare a financial plan right now!
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How To Manage Employees in Their Twenties

Click Here to read an excellent article on this topic by Micharel Fertik of the Harvard Business Review.
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Apelaciones por Desempleo en Pennsylvania

Hacemos Audiencias desempleo en Norristown, Malvern, Springfield, Bristol, Lectura y Filadelfia

Nosotros nos encargamos de muchos tipos de Audiencias de desempleo antes de Árbitros. Si usted tiene un desempleo audiencia en donde la cuestión es si usted ha participado en conducta dolosa, llámenos. Si usted tiene una audiencia y la cuestión es si usted tenía un motivo necesitados y convincente para dejar su empleo, llámenos.Si le han negado los beneficios, que a menudo manejan Audiencias árbitro en Filadelfia, el Condado de Chester, de Campo Montgomery y el Condado de Bucks, en una base de honorarios contingentes.

NUESTRO BLOG MÁS FRECUENTES HABLA SOBRE SU DERECHO AL DESEMPLEO EN PENNSYLVANIA

Si usted tiene una audiencia de desempleo en Malvern, Norristown, Springfield, Bristol o leer acerca de si ha recibido un pago en exceso, llámenos. En muchos casos, podemos ganar su reclamación de desempleo en estas situaciones. Eso significa que usted no tendrá que devolver dinero, y de hecho tendrán derecho a las prestaciones por desempleo en el futuro!

TRATAMOS DE APELACIONES DE DESEMPLEO EN PENNSYLVANIA

Si usted tiene un árbitro de la audición o la necesidad de apelar a la Junta de Compensación por Desempleo de la revisión, nosotros podemos ayudarle. Nosotros nos encargamos de apelaciones de desempleo en Pennsylvania cada semana. Si usted tiene una pregunta como "lo que es mala conducta intencional en Pennsylvania? "o" Yo renuncié a mi trabajo puedo obtener el desempleo en Pennsylvania? ", es posible que desee comprobar John A. Gallagher 's videos de YouTube o nuestro blog , en el que abordar estas cuestiones de tipo en un fácil entender manera .

SI USTED TIENE UNA DISCRIMINACIÓN O RECLAMACIÓN REPRESALIAS PUEDE SALIR EN LA AUDIENCIA DE DESEMPLEO

Hemos estado a un buen número de audiencias en donde el árbitro pruebas salió que condujo a la presentación de una reclamación bajo los estatutos federales de empleo o la ley estatal. Si esto ocurre, vamos a presentar una demanda en su nombre en una base de honorarios contingentes.

Preguntas acerca de Apelaciones de Desempleo en Pennsylvania? Póngase en Contacto con el Grupo Jurídico Gallagher Hoy (con translacion in Espanol)

Desempleo de Pennsylvania derecho de reclamación es más complicado de lo que piensa, y los empleadores tienen mucha experiencia en la manera de ganar. Es probable que no lo son! Estamos y estaremos encantados de ayudarle. Incluso las escalas, en contacto con abogados de la ley de empleoen el día de hoy Gallagher Law Group.
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100 Best Companies to Work For

Fortune Magazine has identified the top 100 Companies to work for. Click Here to see.
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Are you ready for a 990 rupee breakfast???
















Can you imagine spending Rs 990 for your idly, vada & coffee breakfast after 20 years...

It's a reality with the kind of inflation we are going through.... And who knows if you have to pay more than this.....

So, are you ready for it?

Do prepare your financial plan to get ready for it......
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Pennsylvania's Unemployment Rate Improves Again

It is down to 8.5% (from 8.6% in November).  That is 5 straight months of improvement.  Pennsytlvania's Department of Labor and Industry states that 538,000 Pennsylvanians are unemployed, down 10,000 from the previous month. 

I am not sure the figures are truly reflective of reality (see some of my past blogs on the subject), but good news is - well - good news.
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Who are the Top Employers in America? Where Should I look for a Job? What Companies Are Growing?

Thanks to William Baldwin of Forbes, and his crack analytical team, we may have an answer.  Here is the list:

Under Armour
VSE Corp.
Leap Wireless International
]NII Holdings
CBeyond
BJ’s Restaurants
TNS
NetApp
CommVault Systems
Tractor Supply
Air Methods Corp.
United Natural Foods
Royal Caribbean Cruises
American Eagle Outfitters
Labarge
Costco Wholesale Corp.

Click Here to read Mr. Baldwin's article, and see the statistiocal matrix that supports his findings.
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Inflation data

A glance of food prices in the CPI ( Consumer Price Index) basket... In simple terms the inflation which is impacting you and me.... Take a look at the Indian scenario which is quite worrisome...


chart

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Chinese are crazy buyers

Chinese are buying pigeons like crazy...
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Its important for YOU


Can you spare a couple of minutes? Its important for YOU
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Breaking your four minute mile - truly inspirational

Breaking your "four minute mile"

The inspirational story of Roger. For many years it was widely believed to be impossible for a human to run a mile (1609 meters) in under four minutes. In fact, for many years, it was believed that the four minute mile was a physical barrier that no man could break without causing significant damage to the athlete's health. The achievement of a four minute mile seemed beyond human possibility, like climbing Mount Everest or walking on the moon. On the 6th of May, 1954 the myth was shattered and rest as they is history.......
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Inflation at a glance...


Though there are various reasons at play in the surging food prices in India, this chart from Citibank standsout to show the disconnect between the growth in wealth and per capita availability of food grains.....







Take a look at the eye popping inflation numbers which has put the people in jittery...
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Future planning.ppt

Check out this SlideShare Presentation:
Future planning.ppt
View more presentations from vgopaal.

For bigger picture view click the slideshare link
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Barron's roundtable highlights

Barron's published the first installment of its famous Barron's roundtable, featuring 10 "gurus" talking about the economy.

The experts are:

  • Archie MacAllaster, MacAllaster Pittfield Mackay
  • Fred Hickey, The High Tech Strategist newsletter
  • Meryl Witmer, Eagle Capital Partners
  • Mario Gabelli, Gamco
  • Bill Gross, PIMCO
  • Abby Joseph Cohen, Goldman Sachs
  • Oscar Schafer, OSS Capital Management
  • Marc Faber
  • Felix Zulauf, Zulauf Asset Management
  • Scott Black, Delphi Management

The discussion is summarized below, but if there's one theme it's: We're fine at the moment, and we're screwed long term.

As for this year:

  • Witmer: The economy is coming back nicely, but stocks are pretty fully valued at this point.
  • Black: Things are fine now, but we're in trouble long term because we're kicking the can down the road.
  • Schafer: Yes there are long term issues, but it's a stock picker's market, and stocks will rise 5-10%
  • Zulauf: The developed world, in contrast to the emerging world, is living in a fantasy.
  • Gabelli: Everything will be fine this year. China slows a little. Europe keeps bailing out the PIIGS, and Obama moves to the center and all his hunky dory.
  • Gross: Yes, the economy will grow 4% this year, but it's a sugar high, and without serious re-investment, the US is going nowhere.

As for the deep, structural issues that everyone is worried about, what are they?

  • Cohen: We have a deep educational deficit. We need more investments in science.
  • MacAllster: But the US still leads the world in tech innovation.
  • Hickey: But US companies are all forced to hire overseas workers, for lack of talent in the US.
  • Faber: Everyone's living in a dream world. It's all the Fed's fault!

On gold:

  • Hickey: 50% of my assets have been in gold for 7 years. It's ridiculously under-owned still.
  • Zulauf: It still has a long way to go.

On overall market predictions:

  • Hickey: If the Fed keeps printing, the stock market could go another 10% higher. Otherwise, , it will collapse.
  • Gross: With GDP of 4%, stocks could move 5-10% higher.
  • Cohen: S&P 1500!
  • MacAllaster: Here comes another 1,000 point dow rally.
  • Gabelli: 5-10% gains.
  • Zulauf: 10% range one direction or another.


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Escalating costs of leisure...

Escalating costs of leisure..


The illustrations I have prepared are for Chennai and these figures will certainly be on the lower side if compared with the other metros for our study. As we make rapid changes in our lifestyles, the cost of such changes will certainly have a negative impact. Have given two illustrations to explain this.
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Escalating cost of living...


Follow up to the earlier projection of huge rise in monthly expenses, the next set of projections on specific essentials are given here. I have assumed a 12% inflation in these cases as well, given the fact that the price rise has been consistently substantial. They provide a fair glance of prices in the future and they may be actually more if not less depending on the demand/supply factors. While planning for the future such things have to be borne in mind before investing in right investment avenues.
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Watch out for higher cost of living while planning for future.

If a family currently spends Rs20,000 per month on expenses, the illustration in the chart gives a projection of expenses after 5, 10,15, 20 years which equates to current expenses. For eg., If I spend Rs 20,000/month, after 20 years I would probably need Rs.1,92,000 to meet the same expenses at an assumed inflation of 12%. And remember in a high growth economy like India, the inflation tends to stay at higher levels, as in the case of other growth oriented economies. One can safely assume that the spiking inflationary trends to stay on for a longer period in India.





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3 key qualities for Warren Buffett's success

In the absence of self-penned autobiographies or memoirs, authors have spent countless hours attempting to uncover the characteristics which make the Omaha native so successful in business. In examining Buffett's Berkshire Hathaway empire three notable qualities come to mind which, when internalized, can help an investor benefit in times of economic prosperity and protect in the event that the markets turn south.

Long-Term Focus

Famously, Warren Buffett has said that his favorite holding period for an investment is forever. Living up to his words, a number of his positions have been mainstays in the Berkshire Hathaway portfolio for years and even decades.

In an interview following his landmark decision to acquire the remaining shares of Burlington Northern Santa Fe Railroad, Buffett turned his attention to the long term, forecasting that railroads will still be essential 100 years from now.

By focusing on the long term, this world famous investor has been able to weather a number of economic crises, including the most recent economic meltdown. At the height of the crisis, while many were fleeing the markets, Buffett penned a now-famous opinion piece in the New York Times titled, "Buy American. I Am."

In the article, he insisted that, contrary to the beliefs of many, the turmoil provided an ideal opportunity to take advantage of the U.S.' inevitable recovery.

Although hurdles facing the U.S. and abroad are sure to crop up in 2011 and stoke investor fears, I remain confident that we are on the road to recovery. By taking a long term view it is possible to profit from improving conditions and avoid the psychological barriers that can lead to detrimental, knee-jerk reactions.

Diversification

Through his investments and subsidiaries, Buffett has expanded his reach into numerous corners of the global marketplace. By tapping into sectors including health care, industry, finance and consumer goods, the Berkshire Hathaway empire has been able to weather market turmoil and profit in times of strength.


Dividends

Berkshire Hathaway pays no dividend. However, yield-bearing companies still represent a major chunk of Buffett's portfolio. Aside from being leaders in their respective fields, Buffett positions including Coca-Cola, Proctor & Gamble and Johnson & Johnson are also notable dividend payers.

As we saw last year, distributions have become essential to navigating today's volatile economic climate. The constant reminders of economic turmoil facing both the U.S. and abroad can lead to unexpected shake ups and gut wrenching dips.

Consistent dividends can help alleviate some of this volatility, providing conservative investors with some comfort and confidence.


Written by Don Dion in Williamstown, Mass.





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Toxic Work Environment - What Strategies Should I Employ Before I Quit My Job?

A recent Article from Forbes.com sets forth the author's view of the "10 Questions You Need to Ask Yourself Before You Quit Your Job."  This is an excellent article, and the questions are insightful.

It focuses on people what want to quit their job be3cause the environment at work as turned toxic. 

The first thing my clients want to know is "Will I get Unemployment if I Quit My Job?"  Typically, the answer is "No."  However, there are exceptions to that rule. Primarily, it works like this: 1) the environment must truly be toxic; 2) you must inform management of the situation and provide it with a real and true opportunity to fix the problem.

What does that mean?  What is a truly toxic situation?  Well, in the context of lawful "hostile work environment" (that is, one where the mistreatment does not exist because of your age, sex, race, religion, national origin, etc.) boss who yells a lot, curses, repeatedly invades your personal time, says highly critical things about you, gives unrealistic work assignments...I know, I know, sounds familiar!

How do you give the company a chance to fix the problem?  Report it, preferably in writing (it's the evidence, dammit!) and work with HR and wait a suitable time for things to prove, sending follow up e-mails each time a new (real) transgression arises.  Inform the company when you complain that the work environment is affecting your physical, mental and emotional well-being.

After a few months, if your employer has not remedied the problem, you may be able to quit and get unemployment.  That's right, I said a few months!  On many, many occasions I have had clients in who are understandable at their wit's end with their work situation.  They are ready to quit - NOW.  Implementing a decent strategy is therefore difficult.  One cannot bake a cake in 5 minutes....

The time to act is when you first get an inkling that your tenure with the company is causing you more pain than it should.  Perhaps consider taking a leave under the Family and Medical Leave Act, which is one of my favorite tools, for a number of reasons.  then, apply for Short Term Disability....

Maybe, if you're lucky, taking all of the above steps will lead the company to fire you - since public employment records don't exist, you really don't have to worry about your "record" - and you may be eligible for unemployment to boot!
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Innovative business practice










Most entrepreneurs probably think he’s crazy, but a young café owner from the Czech Republic claims scraping the price list was the best move for his business.

42-year-old Ondrej Lebowski remembers just a while ago he was struggling to keep his café business afloat, but now he says his place in Prague is packed all the time. The secret to this amazing comeback – scraping the price list for customers. Clients simply set their own prices for what they drink, usually depending on the service and how tasty the drink is.

Lebowski launched his innovative tactic in August of last year. Fast forward to present day, and the Big Lebowski Café is one of the popular venues in the Czech capital. Curious people started coming in right after they heard about the seemingly crazy idea, and just fell in love with the place. They get to set their own price for drinks, enjoy a nice friendly atmosphere and have the chance to pick out cool memorabilia, including film posters, books, and toys.

Where I come from, people would just eat and drink for free, in a place like this, but Ondrej Lebowski says all of his clients try to pay a fair price for what they consume. Some give more, some give less, but what’s important is they try to come up with a correct price. “I come here once a week. It’s great, amazing. But you feel inclined to pay regular prices just because it’s a cool place" says Ankat, one of the loyal customers of the Big Lebowski Café.

Ondrej legally changed his name to Lebowski and his café is modeled after the passion he has for movies, particularly the 1998 hit “The Big Lebowski”. The movie also inspired one of the café’s most popular cocktails – the White Russian.

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Wanna manage your moods...Useful tool to track them

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Interesting chart on India


For any economy in the world what really matters heading into 2050 is the demographics of the country's population, according to a new report released by HSBC.

Many of the world's top economic powers are now in a state of permanent decline, due to rising amounts of retirees thereby putting pressure on social security costs and lowering consumption, declining amounts of workers, and population disadvantages.

And by 2050, they'll be replaced by fast rising emerging markets primed for growth due to high working age populations. Count on our country to be on the top three economies to leverage its population growth to its advantage.

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GoldNomics - Cash or Gold Bullion?

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How Did Your Raise Last Year (if you got one) Compare With National Averages and What Raise to Expect in 2011

It is incredible to learn, in a Country with so much prosperity, that in 2010, the average raise was only 1.9%. And we thought 2009 was a bad year - at least the average raise in that "golden" year was 3.9%.

Heck, makes you feel a tad better if you didn't get a raise. After all 1.9% of $30,00 is a whopping $570.

Projected salary increases for 2011 are 2.8%.  Not a whole lot to look forward to....

Employers will throw bigger raises to those that they view as being most worthwhile.  Measure your future with your company accordingly....

Read more by clicking Here.
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Millennials Hit Hardest By Salary Freezes, Layoffs

Those who took on employment for the first time in 2007 expected that their futures would proceed as those before them.  Reasonable starting salary in the $30-60,000 range, annual pay increases of 6-10%, Christmas Bonus, performance bonuses, pay off those student loans, move out of Mom and Dad's house, buy a home, start a family....

These aspirations have been summarily quashed.  Instead, the Stock Market crash in October 2007 led to a series of quite unfortunate events, culminating in a new reality:  if they are lucky enough to have a job, the 20-30 year old American has probably received only minimal (at best) raises, few bonuses and, worst yet, may still be camped out at Mom and Dad's.

As the attached Article discusses, a recent study found that 20% of employees between 20 and 30 have suffered at least one pay cut since 2008, and nearly 15% have been laid off.  That did not happen for Baby Boomers starting out their careers between 1970 and 1992.

It is incredible to learn, in a Country with so much prosperity, that in 2010, the average raise was only 1.9%.  And we thought 2009 was a bad year - at least the average raise in that "golden" year was 3.9%. 

The problem particularly for the Millennials, is that future salary is often based upon starting salary (and to a lesser extent on current salary, which is in turn based upon your starting salary) - not just in one's present job, but in one's future jobs as well.  In addition, the current trend is to "promote" younger workers - via title only, without a concomitant salary increase.  many hired to be Clerks at clerk salaries are now "Managers" at Clerks' salaries.

Projected salary increases for 2011 are 2.8% but, really, consider:  2.8% of $40,000 is $1,120, barely enough to find a efficiency in Philadelphia, much less Manhattan, Chicago, Boston or L.A.

And, to make all of these matters even worse, where are the unemployed Millennials going to find work?  Where are the new college graduates going to find work? 

The answer?  Well, the author does not have one.  But, spending less and networking more are what the Millennials are doing.  Mom and Dad?  Chances are, one of them has become unemployed during the last 2 years, so the chances of borrowing a down payment on that first house are sketchy, at best.....
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Non-Compete Agreements in Pennsylvania - The Basic Test

Remedies for an Existing Non-Compete Agreement

Non-compete agreements are utilized by employers to prevent key employees from going over to the competition, and to prevent those with intimate client contact from taking those clients with them to a new employer (or on their own venture). The contracts limit the ability of the employee to pursue comparable jobs in the same field after the employment relationship has been terminated.

The most common provisions are non-solicitation clauses, which  limit the employee's right to call on specific customers, and non-compete clauses, which limit the employee's right to work for certain companies. They commonly restrict the employee for a specified period of one to several years.

In Pennsylvania, the key provision is the non-solicitation provision.  Courts don't get too concerned if Joe or Jane Doe left to join a competitor unless they are possession of some unique information (think: Coca Cola formula, Thomas English Muffin recipe).  They do, however, become quite concerned if Bill or Bonnie Average take customers away from their former employer after they leave to join a competitor or to start a new venture on their own. 

Here is the basic test:  if you leave your former employer and engage in activity that your former employer can prove caused it to lose money (think: loss of a customer), then your former employer will have an excellent chance of getting your non-compete enforced (think: get an injunction stopping you from doing what you are doing).

Of course, all of this presupposes that your non-compete agreement is enforceable.  There are a number of rules that govern such an issue.  We have in the past and will in the future Blog more on that issue in the future. Click Here to find one Blog that provides an overview of the basic rules concerning what is required to create an enforceable Non-Compete Agreement in Pennsylvania.
 
Prior to Signing a Non-Compete

A non-compete agreement can be particularly devastating to salespersons, licensed professionals or employees with prized skills. Therefore, you should think carefully about your future before you sign one.  If you are thinking of leaving your current employer for greener pastures, and you are bound by a non-compete, you may want to seek legal counsel to establish the best strategy for minimizing your risk in doing so.


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Risks in financial services...

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Gold in 2011

Outlook 2011: Fear and Love in gold trading

Commentary by US funds

Wall Street has been calling gold a bubble since 2005 when it hit $500. Some media naysayers remained negative even as they wrote the headlines proclaiming record highs and saw gold rise almost 30 percent in the past 12 months.

Interestingly, despite gold’s latest run, it was still a laggard compared to many other commodities. In the commodity world, gold didn’t even place in the top half in 2010. Against a basket of 14 commodities that includes everything from aluminum to wheat, gold’s 29.52 percent return places it eighth. Palladium took the top spot with a 96.6 percent return, followed by silver with an 83.21 percent return. Natural gas continued its cellar-dwelling ways, dropping 21.28 percent to become the worst-performing commodity of the basket.

There are two main drivers of gold demand: The Fear Trade and the Love Trade.

Fear Trade: The fear trade is what you often hear about from the media and the gloom-and-doomers. The fear trade is driven by negative real interest rates—where inflation is greater than the nominal interest rate—and deficit spending. Whenever you have negative real interest rates coupled with increased deficit spending, gold tends to rise in that country’s currency.

In the U.S., we’re in the middle of an extended period of negative real interest rates that will likely last through the year. The Federal Reserve is acutely aware that if interest rates should spike, it would be catastrophic for the economic recovery.

Looking back over the past 400 years, there has been a major currency or credit crisis every decade and, historically, it takes approximately four years to heal from the contraction. The U.S. economy is on the road to recovery, however the elevated number of home foreclosures and high unemployment make it unlikely the Fed will risk a relapse by raising interest rates any time soon. The government is also unlikely to cut spending or welfare support during the healing process.

As for deficit spending, we still have an oversized government, creating regulatory traffic jams for business development and hurdles for economic trade.

Love Trade: The love trade is significant and unique to gold. People buy gold out of love and those in emerging markets are especially amorous of the metal. We refer to the most populous seven of the emerging economies as the E-7. Currently, the E-7 countries hold nearly half of the world’s population but make up less than 20 percent of global GDP. The G-7 industrialized nations are a mirror of this; they host 11 percent of the world’s population but control more than 50 percent of the global economy.

But things are changing.

E-7 and G-7 Population vs GDP table

I’ve discussed this many times but it’s important to grasp how today’s world looks a lot different than yesterday’s. Many of these emerging economies are averaging over 6 percent GDP growth and personal incomes are rising around 8 percent. In addition, emerging economies are home to 27 percent of the world’s purchasing power, according to economic research firm ISI.

It is customary in most emerging countries to give gold as a gift to friends and relatives for birthdays, weddings, and to celebrate religious holidays.

In December, the Shanghai Gold Exchange reported that China imported five times more gold in 2010 than 2009 and that was just during the first 10 months of the year. In India, spending on gold rose 100 percent on a year-over-year basis through September, according to Morgan Stanley. Russia’s central bank holdings of gold rose 7 percent in 2010.

What is important to remember when looking at the history of gold is that in the 1970s, China, India and Russia were isolationists with no significant global economic footprint. The world’s population was 3 billion and today we have witnessed an awakening of epic proportions.

These countries are growing with free market policies and massive infrastructure spending. In the 1970s, gold rose on the fear trade and the cold war. Today the world is significantly different and the love trade drives gold.

If QE2 was the fuel that sent gold prices to the moon, the gold holiday season was the vehicle they rode in. Gold prices rose steadily as Ramadan came early, which then carried into the Diwali season of lights in India. Then came Christmas, with shoppers around the world spending more than they had in years.

For the Love of Gold Image

Next is the Chinese New Year—the Year of the Rabbit—on February 3. It’s believed that people born in the Year of the Rabbit are wise, financially lucky and have a gift for making the right decision—similar to how gold investors are feeling these days.

Looking Ahead
It’s impossible to predict where gold prices will be 12 months from now but we think gold prices could double over the next five years. This would mean roughly a 15 percent return, if you compounded it annually.

However, it will by no means be a straight line. Volatility is always inherent in commodity investing. It’s a non-event for gold to go up or down 15 percent in a year—this happens 68 percent of the time. For gold stocks, the volatility is even more dramatic—plus or minus 40 percent, historically.

We have always suggested that investors consider a 10 percent weight in gold funds and rebalance their portfolio each year to capture the volatility and not chase return. Since gold was up almost 30 percent last year, it could easily correct from its peak by 10 to 15 percent. This is why we believe gold investors should invest in actively and professionally managed portfolios, such as a gold mutual fund.

Investors looking to either add to or initiate new positions in gold must be aware of this volatility and use it their advantage. Use sharp selloffs as cheap entry points and make sure to rebalance those portfolios in order to lock in profits from 2010’s big gains.


These views are of the US funds.

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