Newsletter Nov 8, 2024
Welcome to your November 8 newsletter...

In response to Trump's victory, US women are protesting by pledging not to date or have sex, similar to South Korea's 4B Movement. Meanwhile, Nissan's CEO has taken a 50% pay cut to address the company's financial challenges, which include global layoffs of almost 9,000 employees. All these and more for today's Money Making Moves:

In the Fast Lane of Business...

> With Donald Trump’s 2024 re-election, many American women have turned to South Korea's 4B Movement for inspiration, which promotes rejecting traditional roles and relationships with men as a form of protest. Originating in 2019, the 4B Movement's "Four No's" (no marriage, childbirth, dating, or sexual relationships with men) grew in response to gender inequality and violence against women in South Korea. This movement appealed to American women as a response to a perceived political climate that marginalizes women's rights. While it has gained support online, it has also faced backlash from critics in both South Korea and the U.S., reflecting a polarizing divide on gender roles and societal expectations.

> Nissan's CEO, Makoto Uchida, has announced a 50% salary reduction as part of a major restructuring plan involving the layoff of 9,000 global employees to address declining sales and profitability. The automaker has been grappling with shrinking profit margins and poor sales in key markets like China and the U.S., prompting cost-saving measures, including a 20% reduction in global production capacity. Uchida acknowledged missteps, such as underestimating hybrid demand in the U.S., and plans to introduce 30 new models by 2026, with a focus on electric vehicles. Nissan also slashed its profit outlook by 70% and eliminated its net profit forecast for the fiscal year amid ongoing financial struggles.

> President-elect Donald Trump's proposed tariffs of 10 to 20% on all imports, with even higher rates for Chinese goods, could raise prices on consumer items like footwear and party supplies, driving inflation and potentially causing job losses. The National Retail Federation warns these tariffs amount to a tax on American families, and analysts believe they would lead to significant price increases across key retail categories. Companies like E.l.f. Beauty may raise prices to offset costs, while deep discounters like Dollar Tree face challenges due to their fixed price models. Some companies are diversifying supply chains to mitigate impact, but consumers could still experience price hikes on everyday items like shoes, beer, and snacks.

Unique Business Idea For You

Starting a fashion and beauty reselling business can be promising for those with an eye for style, especially as women value looking good and staying fashionable. Key investments include clothing and beauty products, packaging, marketing, and potentially a dedicated camera or website. Due to high competition, finding a niche market can help differentiate your brand. Securing a reliable product supplier and gradually expanding your offerings is crucial for long-term success.

Side Hustle You’d Be Crazy Not to Try

If you excel at setting up home networks, smart devices, and tech equipment, you can earn extra cash by marketing your skills through social media and handyman apps. Obtaining tech certifications and providing insurance can further enhance your credibility for in-home services. Startup costs are low, though you may need to invest in essential tools. Use platforms like HelloTech and TaskRabbit to find gigs or handle your own bookings and payments with services like Square.

Personal Finance News

> YouTube's updated video linking system offers creators in the YouTube Partner Program greater control over advertising partnerships by allowing them to initiate connections with brands. This change resolves issues creators faced previously, as they had to wait for advertisers to approach them. Now, channels with over 4,000 subscribers can proactively reach out to advertisers for Shorts content via YouTube Studio, with the potential for more targeted and authentic brand collaborations. The system also includes performance data access and rights management features, ensuring transparency and protection for creator content. For YouTube tutorials, click here

> An Amazon employee's viral TikTok claims night shift workers were not compensated for the extra hour worked during the end of Daylight Saving Time, leading to a walkout. The post, which received widespread support and criticism of Amazon's policies, highlighted discrepancies in how facilities handle the time change. Some employees reported compensation for the extra hour, while others faced unpaid work. The controversy underscores broader issues with Amazon's treatment of hourly workers and the impact of inconsistent policies on night shift employees.

> Frequent job changers often see higher pay increases but may face reduced retirement savings over time due to lower 401(k) contribution rates. A Vanguard study found that median job switchers saw a 10% salary increase but a 0.7% drop in savings rates, with many ending up with lower contributions to employer-sponsored retirement plans. Automatic enrollment didn't fully protect job changers, as default contribution rates were typically set at 3%, leading to substantial long-term savings losses. Employers could mitigate this issue by increasing default savings rates and tailoring contributions based on employee age or tenure, while individuals can take control by actively adjusting their rates.

In partnership with Elevated Leads Ltd.

2024 U.S. Election: A High-Stakes Battle Between Trump And Harris

"The 2024 U.S. General Election has become a fierce contest following President Joe Biden's unexpected withdrawal, with Vice President Kamala Harris stepping in as the Democratic candidate against Donald Trump - with tight betting odds and key battleground states likely determining the outcome."

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