July 27, 2014

Did you hear?

Walk down the street in New York City and you’re virtually guaranteed to see several millionaires. That’s because more than 1 in every 25 New Yorkers is a millionaire, according to a study released last week.


Rub shoulders with millionaires on NYC streets

Walk down the street in New York City and you’re virtually guaranteed to see several millionaires. That’s because more than 1 in every 25 New Yorkers is a millionaire, according to a study released last week.

The Big Apple ranks fourth in a listing of the top 20 global cities based on the portion of their populations whose net worth, excluding primary residence, tops $1 million.

Altogether, 4.63 percent of New Yorkers, or 389,100 people, are millionaires, according to the analysis by Spear’s magazine and consulting firm WealthInsight.

Even more impressive globally: Nearly 3 in 10 people in Monaco are millionaires. Zurich, Geneva, Frankfurt, London, Houston and San Francisco also ranked high on the list.

Food and drink

Are flavored potato chips a ripoff?

This is going to ruffle a few feathers.

PepsiCo purposely packs fewer chips into its flavored chip bags, Hugh Johnston, the company’s CFO, told the Associated Press. Regular Lay’s are sold in 10-ounce bags; flavored Lay’s are sold in 9.5-ounce bags; and both are sold for the same $4.29 price.

That tiny half-ounce tweak might only mean a potato chip or two to you, but it’s probably worth tens of millions to PepsiCo annually.

Americans buy some $1.6 billion worth of Lay’s potato chips every year. Much of that is sold in bulk – or merely in bags bigger than the standard ones mentioned above. But let’s assume for a second that those 10-ounce bags are the only ones Lay’s sells. That would mean the company sells more than 372 million bags of Lay’s in the U.S. each year – or 3.72 billion ounces of chips, at 43 cents per ounce. It would also mean that that half ounce difference is worth 21.5 cents per bag, and more than $80 million in total per year.

Perhaps that’s why Lay’s is getting ready to launch a horde of new specialty potato chip flavors, which will include flavors like Cappuccino, Mango Salsa, Wasabi Ginger and Bacon Mac & Cheese.


Nordstrom catalog features models with disabilities

It’s not easy to find models with disabilities in ads for the fashion and beauty industry – unless you look in the Nordstrom catalog.

The company has been using models with disabilities since 1997 and continued the tradition in its annual July catalog, which kicks off the upscale retailer’s largest event of the year with preview discounts of new fashions for fall.

This summer’s Nordstrom Inc. catalog includes, among others, a woman in a wheelchair modeling boots and a man with a prosthetic leg modeling Nike running shoes.

Hiring professional models with disabilities has become so much a part of the Seattle-based company’s DNA that its regular customers may not even realize how unusual it is.

Nordstrom spokeswoman Tara Darrow said using the models is “really about reflecting the customers and communities we serve. We serve diverse customers and it’s an opportunity for them to see themselves when they’re looking through the book or online. … We don’t promote it or go out and talk about it. We just think they look great.”

Workplace issues

40-hour week largely a thing of the past

When was the last time you worked a 40-hour week? Thought so.

The time-honored 40-hour, 9-to-5 workweek is a thing of the past, according to a survey conducted for Atlanta-based Premiere Global Services Inc. The “Take Back 60” study found that 88 percent of the 617 respondents who took the online survey last month said they work more than 40 hours a week.

Among the findings:

• 71% said they take work home at least one day a week.
• 71% said they work more than they would prefer.
• 63% eat lunch at their desks.
• 61% commute more than 30 minutes each day, with nearly 25 percent clocking in at over an hour.

If they weren’t working so much? A majority (64 percent) said they would spend more time with family or exercise if they could reclaim 60 minutes (hence the title of the survey) from their overworked week. A third would pursue a hobby and about a quarter would catch up on household chores or learn or improve a skill.

Los Angeles Times, The Washington Post, The Associated Press and The Atlanta Journal-Constitution contributed.

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