WHAT’S A NAME WORTH?

Schools Sell Naming Rights for Cash

Are naming rights to libraries, gyms or cafeterias a financial boon for schools? Schools from California to Massachusetts are selling the right for individuals or organizations to name a part of a building or athletic field. Money paid can range from $5000 for an English classroom to $400,000 for athletic facilities. Once again it looks like athletics will gain more statue as its properties are more lucrative!

If these funds were being paid directly to outstanding loans that have ballooned over the years in nearly very district, the one-time cash windfall makes sense. Unfortunately, many of you will suspect as I do that the money will be spent in a way that the result will create more long-term debt.

Property taxes in Pennsylvania averages $1010 per person, slightly below the US average of $1086. The range per capita (2004 data) has New Jersey “first” at $2099 and Alabama “last” at $367. This data begs the question, “Are high taxes wrong for our society?”

If you are retired or plan to retire, Alabama makes a good choice because of its low property taxes. Provided that taxing trend is not universal, you should expect decent roads and other infrastructure maintenance, social services, emergency services and hospital care. Chances are, “you get what you pay for.”

For example, New Jersey schools are highly ranked in the US and generally are labeled as one of the best in educational achievement. Alabama ranks as one of the worst states in educational achievement. That state is joined by several other low tax states such as Louisiana, New Mexico and West Virginia.

Also, the numbers above don’t reflect taxes as a percentage of personal income. Higher taxes along side of higher incomes take a smaller “bite” out of discretionary income. Here, New Jersey ranks 37^th in the nation or near the bottom. Basically affluence attracts more quality and taxes are inconsequential.

More About Men and Women

The percentage of doctorates awarded in sociology has shown a shift from men to women. In 1973, 74 percent of doctorates went to men and 26 percent to women. In 2003, men accounted for 41 percent and women 59 percent. The 2003 numbers represent an 11 percent increase in doctorates awarded to women since 1993.

In 1980, medical doctorates were awarded to 11,616 men and 3497 women. In 2004, 8565 men and 7256 women earned an MD.

Note: Data from USA Today July, 2006

It looks like women are ready to rule in every phase of society. The real question is will they accept the new role of men that looks to be a “catch as catch can” filler role? So far, women have shown a prejudice towards mew who appear to be under-prepared and under-educated.

Note to men: get a good education, stay in school for a lifetime and learn how to say “When would you like that to be done?” Male chauvinism isn’t just over, it’s been destroyed!

Is Nothing Sacred?

Elizabethtown College fired its religious studies chairman after he was arrested in an Internet child-sex sting. He was charged with trying to arrange a meeting with a supposed 12-year old girl (USA Today, 07-31-06).

Maybe he never got past the first few chapters of the Old Testament where pre-teens were considered for marriage? Of course, the life span was considerably shorter then than today. Plus, our society totally agrees that relationships with youngsters are wrong. He probably didn’t see the emails about sexual predators are not welcome in this country.

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GROWTH <> LEADERSHIP <> EXCELLENCE

© 2006 3 Minute Learning LLC

CHARITY OVER INHERITANCE

How Generous Are You?

How much do parents owe their children? Warren Buffett’s decision to give billions of dollars to the Bill and Melinda Gates Foundation is the most magnanimous cash gift in the history of mankind. He chose charity over his children.
Buffett apparently believes that, in life, he has given his 3 grown children the start they needed to be successful. Beyond that, Buffett feels his children’s future wealth must be earned.
Parents generally provide a safe, healthy, and happy home environment for their families. They are usually supportive parents encouraging their children to grow and meet the demands they will face in adulthood. Parents often instill a good work ethic filled with determination and the ability to deal with set backs and some failures.
Urban sprawl is the result of parents attempting to find safe and upscale neighborhoods, schools and social outlets for their children. The moves put more pressure on parents to commute to and from work. It also increases the likelihood of isolationism from living in “starter castles” surrounded by large lots. But this is the price parents are willing to pay for their children.
As children approach the college prep years in high school, parents get involved in finding funds and schools to meet their child’s needs. They spend summers traveling to visit campuses, talk to financial advisors about payment options and work to understand SAT/ACT testing. Parents get their first break from raising a child once he or she is dropped off at school for freshman orientation.
If all goes well at college, the best outcome is a high paying job that keeps the graduate independent and living on their own. But, the reality is that over half of graduates, and nearly all non-graduates, return home to live with mom and dad. Work is hard to find and the cost of living makes it impossible to pay school loans and the rent in the same month.
Hence, parents keep supporting and giving to their “kids.” If one or both parents die prematurely, they may never see their kids on their own. So, after years of support, should you also leave your estate to your kids to split and enjoy?
Or do you do a “Buffett” and give your estate to charity and give someone else a chance to be successful?
Side thought:
For centuries in the US it was not uncommon for multi-generational families to live together in the same house. Some cultures, like the Samoans, still adhere to the multi-generational approach to family life. With generations spanning all age groups, the learning and sharing that goes on in these homes is special with long term positive outcomes. Considering the millions of children home alone as parents work multiple jobs or commute several hours, the idea that other adults are with the kids must be very comforting.
If little junior or sissy returns home after college because of debt or lack of a job, is that really “bad?” Considering the hefty size of most upper and middle class homes, the addition of family members is not as traumatic as the “old days” of sharing one bedroom. Creating homes with multi-generational families may be an answer to the economic downturns that have plagued US families for the past 40 years. With the kids working (even at minimum wages), it will help offset rising costs and other financial issues that families living apart cannot resolve.

Visit www.3MinuteLearning.com
GROWTH <> LEADERSHIP <> EXCELLENCE
© 2006 3 Minute Learning LLC