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| Products, Deals and People | |
| Zane Benefits Launches Guide to Small Business HRA | |
| Zane Benefits has launched its newest resource, The Comprehensive Guide to the Small Business HRA. The eBook provides complete support for businesses considering offering a Small Business Health Reimbursement Arrangement (HRA). The Small Business HRA, just established in December 2016 through the 21st Century Cures Act, allows employees to purchase their own individual health insurance policy independent of the company. The company then reimburses each employee tax-free for their individual health insurance and medical expenses up to a set monthly allowance.Read more > | |
| Economic Events | |
On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in December after rising 0.2% in November, the Bureau of Labor Statistics reports. The index for all items less food and energy rose 0.2% in December, the same increase as in November. Real average hourly earnings increased 0.1% in December, seasonally adjusted. Average hourly earnings increased 0.4%, and CPI-U increased 0.3%. Real average weekly earnings increased 0.1% over the month. | |
| Market Mirror | |
Wednesday, the Dow was down 22.05 points (0.11%) at 19,804.72, the NASDAQ increased 16.93 points 90.31%) to 5,555.65, and the S&P 500 was up 3.99 points (0.18%) at 2,271.88. The Russell 2000 increased 6.23 points (0.46%) to 1,358.55, and the Wilshire 5000 closed 42.31 points (0.18%) higher at 23,753.65. On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.9 billion shares traded, with a slight lead for advancing issues on both exchanges. The price of the 10-year Treasury note decreased 26/32, bringing its yield up to 2.418%. The price of the 30-year Treasury bond fell 1 10/32, increasing its yield to 2.999%. | |
| Compliance | |
| Supreme Court May Hear Case About Co-fiduciary Indemnifying Trustees | |
| The Supreme Court has invited the solicitor general to file a brief in a case concerning whether the Employee Retirement Income Security Act (ERISA) permits courts to order one fiduciary to indemnify another. The case involves a complicated leveraged buyout of an ESOP that left participants with worthless stock.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1825, Ezra Daggett and Thomas Kensett of New York City patented a canning process to preserve salmon, oysters and lobsters. In 1861, Georgia seceded from the Union. In 1883, Thomas Edison’s first village electric lighting system using overhead wires began operation in Roselle, New Jersey. In 1915, George Claude, of Paris, France, patented the neon discharge tube for use in advertising signs. In 1937, Howard Hughes set a transcontinental air record. He flew from Los Angeles to New York City in 7 hours, 28 minutes and 25 seconds. In 1944, the U.S. federal government relinquished control of the nation’s railroads after the settlement of a wage dispute. In 1949, the salary of the President of the United States was increased from $75,000 to $100,000 with an additional $50,000 expense allowance for each year in office. In 1953, 68% of all TV sets in the U.S. were tuned to CBS-TV, as Lucy Ricardo, of “I Love Lucy,” gave birth to a baby boy. In 1955, U.S. President Dwight Eisenhower allowed a filmed news conference to be used on television (and in movie newsreels) for the first time. In 1981, the U.S. and Iran signed an agreement paving the way for the release of 52 Americans held hostage for more than 14 months and for arrangements to unfreeze Iranian assets and to resolve all claims against Iran. In 2013, in Scottsdale, Arizona, the original Batmobile for the TV series “Batman” sold at auction for $4.6 million. It was the first of six Batmobiles produced for the show. | |
| SURVEY SAYS: Recently we covered a poll that found “whatever” to be the most annoying word for Americans. This week, I’d like to know, what word or phrase do you find MOST annoying? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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