Hasbro CEO Brian Goldner dies, days after stepping down for well being causes

Brian Goldner, Hasbro CEO

Adam Jeffery | CNBC

The toy maker Hasbro announced Tuesday that its Chief Executive Officer Brian Goldner has passed away. just two days after he was on sick leave.

Goldner, 58, has been CEO since 2008. He joined the company in 2000 and became Chairman of the Hasbro Board of Directors in 2015.

Rich Stoddart, most recently Lead Independent Director of Hasbro’s Board of Directors, was named interim CEO when Goldner went on medical leave.

“Brian has been the heart and soul of Hasbro since joining the company more than two decades ago,” Stoddart said in a statement. “As a charismatic and passionate leader in both the gaming and entertainment industries, Brian’s work brought joy and laughter to children and families around the world.”

Last August, Goldner announced that he had been receiving medical treatment for cancer since 2014.

While at Hasbro, he successfully expanded the business beyond toys and games to include television, films and digital games. Goldner’s tenure was marked by a focus on leveraging the company’s brands across the entertainment spectrum.

In 2019 he has pioneered the acquisition of Entertainment One by Hasbro for $ 3.8 billion, the Toronto-based studio best known for “Peppa Pig” and “PJ Masks”.

Goldner also served as a director on the board of ViacomCBS.

Read the full Hasbro press release here.

—CNBCs Sarah Whitten contributed to this reporting.

This is the latest news. Please check again for updates.

Four Causes to Put Extra Cash Down on Your House

When you take out a mortgage, you usually bring some cash for a down payment. The amount you need to put down varies depending on the lender. Some lenders charge 20% on completion, but many accept 5% or 10%. And there are certain mortgages, like that FHA loansthat need even less money to close.

However, it may be in your best interest to invest more money on your home, not less. Here are four reasons for that.

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1. You have a lower monthly payment

The more money you initially invest on your home, the less you will have to spend in the form of a monthly mortgage payment. This, in turn, could make it easier to budget these payments. Additionally, if you plan to add expenses to your budget in the future (e.g., having children), a lower mortgage payment will give you more financial flexibility as your circumstances change.

2. You pay less interest over the life of your loan

Mortgage lenders Make money by calculating interest on the amount you borrow to finance your home. The less you borrow, the less money you spend on interest. For example, let’s say you buy a home worth $ 400,000 and give up 20%, or $ 80,000. If you take out a 3% 30 year mortgage, you will be spending $ 165,688 on interest during your repayment period. But if you invest $ 100,000 instead of $ 80,000, you are spending $ 155,333.

3. You build equity in your home faster

Home equity refers to the portion of your home that you directly own and is calculated by subtracting your mortgage balance from the market value of your home. The more equity you accumulate, the more options you have about home borrowing Home loan or line of credit (HELOC).

4. You avoid an expensive fee

If you take out a conventional loan and don’t pay a 20% down payment on your home, you will have to pay private mortgage insurance, or PMI. PMI protects your lender in the event you default on your loan payments and it can easily cost up to 1% of your loan amount per year. That said, if you have a $ 300,000 mortgage, you could end up paying $ 3,000 a year or an extra $ 250 a month to own your home.

To be clear, you don’t want to tie up too much money in your home, especially if Mortgage rates are competitive as they are today. In other words, if you buy a $ 400,000 home, even if you can, you might not want to drop 50%. But it’s generally worth cutting 20% ​​if you can to avoid PMI. And investing a little more can save you interest and have more financial flexibility later in life.

Three Causes Most Employees Aren’t Making As A lot Cash As They Did in 2019

  • Total wages and salaries continued to rise in July, according to the Bureau of Economic Analysis.
  • Economist AnnElizabeth Konkel said wages are “moving in the right direction”.
  • But the ongoing pandemic and its impact on workers are still being felt across the economy.

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July brought some promising signs of economic recovery with rising wages and incomes, according to the Bureau of Economic Analysis newest release.

In fact, wages and salaries are approaching the trends seen before the pandemic, according to economists at Jobsite Indeed. It’s another promising sign since the

Federal Reserve
simultaneously Hints that the recovery is going in the right direction.

“Wages and salaries are almost back to their pre-pandemic trend – not quite yet – but they are certainly moving in the right direction. And that’s really promising, ”AnnElizabeth Konkel, economist at Indeed, told Insider.

This means that the restoration is not entirely complete. It’s not bad news, but instead highlights some of the factors that are still affecting the economy – and the data sheds light on programs that are increasing Americans’ incomes. For example, the first round of child tax credits in July accounted for over 1% of personal income, according to Indeed’s calculations.

The graph below, replicated from analysis by Indeed’s latest Bureau of Economic Analysis, shows that aggregate wages and salaries were closer to pre-pandemic trends than in previous months.

Total wages and salaries in July were $ 10.25 trillion. As the graphic shows, wages and salaries in July were just 0.8% below the pre-pandemic trend. In June, wages and salaries were 1.4% below the pre-pandemic trend.

As the US continues to recover, here are three things that are still affecting the economy.

(1) Despite a glimmer of hope this summer, the pandemic is still raging

“The main reason they are still below this trend and haven’t hit it is that we are still in a pandemic,” Konkel said.

Delta cases have increased across the country, and in some cases Closing schools and Plans to return to the office. Workers get back to work faster more vaccinated areas. Care is an important factor held parents meaningful return to work or from advance their careers (and salaries).

“There are still concerns about the Delta variant and what happens in the fall when the Delta variant collides with the school year,” said Konkel.

(2) The labor market is in a transition phase

“I think we are currently going through an adjustment phase. The recovery in the labor market is certainly not turning off and on,” said Konkel.

So far the job market has been very hot – with a mix of both Job vacancies high and Wages explode how Workers quit en masse – and still filled with millions of unemployed. This is why tales of a labor shortage are complicated; some employers certainly have difficulty hiring, but workers lag behind for a variety of reasons. Or they could at a. To suffer Mismatch in open roles and own skills.

“Right now there are so many moving factors. Take a step forward and think of the individual job seekers and the fact that so many people are confronted with so many different things right now, ”said Konkel.

(3) September will bring more clarity about what’s next

Konkel said we should look to September to see what happens next to the job market as schools reopen and federal unemployment benefits become switch off, and the country may see the result of increased vaccination rates. It is important that today’s data release reflected July – when the delta variant was just beginning to take hold.

“I think we will get more clarity and say, okay, is there a labor shortage or are these just factors for childcare,” said Konkel.

Your Cash: 5 causes you would possibly contemplate partial retirement

One financial advisor says he’s seeing more and more people in their early 60s retiring part-time for a variety of reasons

SAINT LOUIS, Mon .– During the COVID-19 pandemic, many people considered quitting work. If you are in the latter half of your career, there are a few things to consider if you want to go into partial retirement.

Jeff Sachs of Sachs Financial in Creve Coeur says his office is busier than ever when he’s trying to help people figure out whether to keep working or dropping out.

“Partial retirement is a relatively new concept,” said Sachs. “It used to be that when you retired you were done with work and you didn’t have to continue or you had a reason to continue.”

Sachs says he talks about retirement all the time with his clients, and here are five reasons you might consider before starting part-time work:

You are not satisfied with your retirement savings

Depending on where you retire, you may need more in the bank account. The Institute for Health Metrics and Evaluation has ranked each state, and Missouri has the eleventh lowest overall retirement estimate at $ 952,000. Illinois has the 20th highest value which is just under $ 1.1 million.

“One in four Americans don’t save for retirement,” Sachs said. “Or if they are, they haven’t saved enough. If you’re in this boat, you might have to work a little longer and postpone Social Security.”

They expect a longer life

Most of us plan to live longer than the generation before us, even though the pandemic has reduced our life expectancy by 1.5 years in 2020, according to the Centers for Disease Control. Still, life expectancy in the United States fell to 77.3 years. If you retire at the age of 65 when Medicare kicks in, you will need more than a decade in savings.

It speaks for itself – if you love your job and still can work, why leave?

You like to have some structure in your life

Sachs says he’s talking to his clients about what their retirement should look like.

“You can’t sit at home and watch TV all day,” said Sachs. “You can’t play golf all day. You can’t say, ‘I’ll paint every day in my retirement.’ Studies have shown that people who do not have this structure become depressed and lose the reason to leave the house. “

Even volunteering at attractions like Grant’s Farm or a local hospital can be a great way to add structure, he says.

You want to go into retirement relaxed

Most people come to Sachs in their early 60s to talk about partial retirement.

“It’s getting more and more,” Sachs said. “You want to retire to get that early social security, or you’re just fed up with work and want to spend your 60s and 70s traveling but you don’t have health care.”

Sachs says if you can you should wait to apply for Social Security when you’re ready to retire, but the years in between can be difficult.

Sachs also says there has been talk of the Biden government considering lowering the age for Medicare eligibility, and if that did happen, many seniors would feel like they would have more freedom to retire.

Three Causes You Should not Borrow Cash From Your 401(okay) to Purchase a Home

  • It is possible to borrow money from your 401 (k) to buy a home, but many experts advise against it.
  • If you can’t repay the money in a timely manner, you likely owe income tax plus a 10% tax penalty.
  • Also, you could lose compound interest, and the borrowing money could indicate a bigger problem.
  • Read more stories from Personal Finance Insider.

Many of my friends are buy houses now and I have a lot of questions for her. I usually start by asking the non-intrusive questions like why they decided to say goodbye to renting out or how did they get to their dream home. Then I ask the burning question I just need to know – how are you? pay the deposit.

A friend recently told me that she half of the money withdrawn in their 401 (k) to bet on their deposit. I’ve been warned by so many people for so many years not to touch the money in your retirement fund (unless it’s a real emergency). I had heard of possible taxes, fines, and just the general setback you would face if you withdrew cash too early. I wondered if what she was doing was a good idea or something others should avoid.

So I asked the experts and learned why financial planners and advisors say it is to take cash out of your 401 (k) to pay for a home not such a good idea.

1. You could be taxed

While you might look at the balance on your 401 (k) and think that you can withdraw some of the cash and use it however you want, this is not necessarily the case.

There is an option to borrow tax-free from your 401 (k) if you repay the loan on time (usually within five years). If you use the money to buy a primary residence, you may have more time to pay back the loan, but that depends on your plan administrator.

But if you withdraw the money and don’t pay it back, taxes may apply.

If you fail to repay your loan on time, you could face a 10% tax penalty (if you are under 59 1/2 years old). You will also have to pay income tax on the payout.

2. You could derail your savings progress

Buying this home now might be your goal, but if you tap into your retirement funds to make it happen, you could stray from your future financial goals, experts say.

“If you tap even a small portion of your retirement money early, you run the risk of derailing progress in saving for retirement in addition to the penalties and taxes incurred,” said Kenny Senour, a financial planner. “It is true that you can start replenishing the money you take out through your future paycheck deferrals, but it can take a long time to build up again depending on how much is withdrawn.”

Financial advisor Jenna Lofton says you can lose too compound interest when you withdraw a large portion of your savings and take years to repay.

“If ever there was an investment in that

compound interest
works in your favor, it certainly is, “says Lofton.” These accounts are designed so that you can live as comfortably after retirement as you can imagine before you retire. “

3. If you tap your 401 (k) it may indicate a bigger financial problem

Some may justify tapping into their 401 (k) to get just a few more dollars to afford that down payment, but according to Steve Landersman, a financial planner, they don’t know they are unprepared for so many others costs.

“The main reason I oppose people tapping into their IRA or 401 (k) plans to buy a home is because it shows they don’t have it Reserve Savings That Are Necessary to Be a Homeowner“says Landersman.” Buying the house is the first step, there are always unexpected expenses and improvements. “

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The 5 Worst Causes to Purchase AMC Leisure Inventory

After a pandemic in 2020, the most important development of the current year was retail investors reaffirming their presence on Wall Street.

For nearly three months, retail investors have been joining forces in Reddit’s WallStreetBets chat room to buy stocks and out-of-the-money call options in companies with high short interest. The goal for these mostly young and / or inexperienced investors is to get a short press – ie, an event where pessimists who want to see the stock price of a stock decline are pushed out of their positions by rapidly rising stock prices.

Private investors have managed to briefly squeeze a handful of securities. Though video game and accessories retailer GameStop Maybe it’s the most famous, it’s a cinema chain AMC Entertainment ((NYSE: AMC) This has become, so to speak, the battlefield inventory between Reddit dealers and Wall Street.

Image source: Getty Images.

Unfortunately, many of the reasons retail investors choose AMC are terrible for lack of a better word. If your buying work is based on one or more of the following five ideas, you could end up in the end Kiss goodbye a significant part of your investment.

1. “AMC’s share price is too low”

One of the worst reasons to buy in AMC is to think that the $ 9.36 stock price looks cheap compared to the $ 20 that were on offer back in September 2018. The problem with this buy thesis is that the stock price is meaningless without considering the number of shares outstanding.

For example, AMC ended 2018 with 135.5 million shares outstanding and a share price of $ 12.28. After doing the math, it has a market capitalization of $ 1.66 billion. Last weekend, AMC had 450.2 million shares outstanding. Based on the share price of $ 9.36, its market capitalization is $ 4.2 billion.

To put this into context, AMC stock is down 67% over the past five years, but market capitalization is up 54%. AMC’s market capitalization over the past two months is higher than ever since it became a publicly traded company in December 2013. The thesis that AMC is cheap because of its stock price doesn’t hold water.

A rocket made of dollar bills that was launched into the stratosphere.

Image source: Getty Images.

2. “A short press is imminent”

Arguably the most common buying thesis I hear for AMC among Reddit investors is that it is prepared for a quick press. The unfortunate part is the momentum that contributed to a brief press in late January and early February no longer exists.

The correct recipe is required for a quick print. First, there must be a high level of short interest on a company’s float (i.e., its tradable shares). In the case of AMC, 49.3 million shares were held in mid-March, compared to a float of 404 million shares. This corresponds to a short interest rate of 12%. That’s definitely higher than the average publicly traded stock, but it’s not off the charts. In fact, the percentage of float held for AMC has dropped from nearly 40% to just 12% over the past four months.

In addition, the company’s short ratio (also known as “days to cover”) has fallen significantly. In October, it took short sellers over three days to exit their positions. AMC’s high daily trading volume would enable pessimists today to cover within a few hours.

A couple eating popcorn while watching a movie in a movie theater.

Image source: Getty Images.

3. “99% of the theaters are open again”

Retail investors are also excited about AMC’s reopening of the cinemas. As of March 26, the company predicted so 99% of the theaters would be open for business. While I freely admit that open theaters are better than fully closed theaters in every way, the purchase thesis lacks some important points.

First of all, it is not as if the AMC theaters will soon be at full capacity. With the new variants of COVID-19 floating around in the US, we are in the race to vaccinate as many people as possible. If too few people are vaccinated, these variants can minimize the effectiveness of coronavirus vaccines and greatly improve the prospect of herd immunity.

Additionally, AMC’s film exclusivity has had a pretty big hit during the pandemic. AT & T.WarnerMedia has decided to release all of its news movies in 2021 on HBO Max on the same day they hit theaters. Walt Disney is taking a similar step with a handful of films on its Disney + streaming service. In the future, AMC could consider significantly reduced exclusivity, which it will hinder his turnaround efforts.

According to Wall Street, AMC is unlikely to reach its pre-pandemic annual sales until 2024.

A magnifying glass over a company's balance sheet.

Image source: Getty Images.

4. “I like going to the cinema”

Investing Peter Lynch has always been a huge fan of buying what you know. But Lynch also realizes that a great investment is much more than just liking or using a product. From what I’ve seen on social media, some retail investors enjoy going to the movies but are allergic to digging them up Income statement and balance sheet of AMC.

On an accounting basis, AMC found in its fourth quarter operating results that more than $ 1 billion in cash was available. This is the case after issuing nearly 165 million shares and borrowing over $ 400 million between mid-December and mid-January. However, 2020 ended with $ 5.7 billion in debt, and some of the debt issued since March 2020 has interest rates between 10% and a floating rate of 17%. Servicing these debts will be very challenging and will minimize AMC’s opportunities for growth initiatives.

In terms of its income statement, AMC reported negative free cash flow of $ 1.3 billion last year. That number should improve as the company’s theaters are now somewhat open. However, profitability is still a long way off. For the next 24 months, AMC doesn’t seem to have enough money to cover his losses.

Investors are welcome to like a company – but investing in it without knowing the basic details is a huge mistake.

A businessman holding a stack of cash behind his back with crossed fingers.

Image source: Getty Images.

5. “If we buy and hold, the hedgies lose”

Finally, there’s the idea that retail investors who buy up the float and hold onto AMC stock will stick it to the “hedgies” – a term given to Wall Street hedge funds and institutional investors. This is also a misguided buying thesis.

Although the percentage of AMC shares owned by institutional investors has more than halved since October – this is likely a function of tripling the company’s outstanding number of shares – data from YCharts shows that institutions still hold 32% of all stocks. That is an important part.

Additionally, most of the trading volume these days comes from high frequency trading programs and not from retail investors or even hedge funds. There will never be a case where retail investors own such a significant portion of the float that they can block downward movement in AMC stocks.

As with any publicly traded company, the operating results, not the emotions, determine the long-term price development of AMC. With the company facing clear cash problems for the next two years, it will likely be forced to once again Dilute the daylight of its shareholders to stay afloat.

Overall, the Reddit buying work for AMC makes little to no sense.

This article represents the opinion of the author who may disagree with the “official” referral position of a Motley Fool Premium Consulting Service. We are colorful! Questioning an investment thesis – including one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.