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Los Angeles Teachers' Strike Continues... students go to movies

Day 32 of the government shutdown, but what else is new? Senator Kamala Harris has declared her 2020
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Los Angeles Teachers' Strike Continues... students go to movies
By Hipsternomics  • Issue #55 • View online
Day 32 of the government shutdown, but what else is new? Senator Kamala Harris has declared her 2020 presidential bid as a Democrat. I experienced my first ever single-digit temperature (6 degrees) here in NYC, and my fingers survived to write today’s brief.

On my way to Fyre Festival 2020... map not included.
On my way to Fyre Festival 2020... map not included.
Top Stories
As the government shutdown extends into a full month, several companies in the private sector are coming to the aid of the affected government employees. PayPal CEO announced Friday that the company would offer an interest-free cash advance up to $500, the equivalent of one week’s paycheck, for any federal employee. Know someone in need of this boost? Click the PayPal Credit site.
Hyundai also offered to extend its auto loan and lease payments for 30 days for current Hyundai owners who are federal government employees furloughed during the shutdown. Kraft opened up a grocery store pop-up in Washington, D.C. to support a program called “Kraft Now Pay Later” that helps federal government workers during the government shutdown. In return, Kraft hopes that workers would pay it forward by donating to their charity of choice or someone in need once they are able to do so. AT&T offered customers a payment plan to avoid any service disruptions.
The Los Angeles teachers’ strike extends to its 6th school day as roughly 30,000 teachers walkout due to unmet union demands. The teachers union raised concerns that class sizes are overpopulated, teachers are underpaid, not enough staff and resources to support low-income and special-needs students who aren’t getting enough help. LAUSD, the second largest district in the country (only behind New York), accounts for about 9% of all California students. However, 85% of the LAUSD students are below the poverty line, roughly 75% are Latino, and many of its students perform poorly on standardized tests. In California, the “per student spending” is about 13% below the national average, and when adjusted for costs of living across different states, California ranks 41st out of the 50 states on per student spending.
So what do the teachers want?
“The teachers’ union is demanding smaller class sizes, less standardized testing, a 6.5 percent salary bump (retroactive to last year), more support staff (meaning counselors, nurses, librarians, and the like), and hopefully a 2 percent bonus.” Although the LA school district claims that these demands would cost about $3 billion and lead to bankruptcy, it has given a counteroffer of “a 6 percent raise spread over the first two of the next three years, 1,200 more educators, a full-time nurse at every school, more librarians and counselors, and knocking class sizes down to 35 students max for grades four through six, and to 39 students max for high school.” According to the LAUSD, it claims the strike has brought a loss of $97 million as of Jan 17th. The reason is because the California funds schools based on daily attendance. So the more students out of school due to the strike, the more money the school district loses.
Chart of the week
Companies mentioned in this issue (52-week): PayPal (+8%), KraftHeinz (-42%), AT&T (-19%).
Resources of the Week
Podcast: Exploring the Worlds of Investing, Assets, and Quality of Life” on the Tim Ferriss podcast. Peter Mallouk is the President of Creative Planning, one of the largest independent wealth management firms in America.
Resources to help furloughed workers: If you want to help people who are impacted by the government shutdown, here are some verified resources you can provide to support those affected.
Do you have a podcast, book, or helpful resource you’d like to share, please send to me @vtineike on Twitter.
Thank you for taking the time to read through today’s news brief! If you enjoyed any of these articles, please share or forward it to a friend. Have a great week ahead.
This brief was written while listening to “Assume Form” album by James Blake. This album has some dope features from Andre 3000, Travis Scott, Metro Boomin. 🔥🔥🔥
Valentine (@vtineike)
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