The penny, the lowest value coin in circulation, has its future up for debate yet again. Recently, PR Newswire discussed the subject with president of the US Money Reserve, Philip Diehl.
According to Diehl the penny is a waste of time and money. The small coin costs more than it is worth, to the tune of $105 million tax dollars each year. In fact, the penny is worth so little that it is not even worth a person’s time to bend over and pick one up off the street, because they would be getting paid less than minimum wage for their effort. Diehl states that one of the main reasons the penny is even still in circulation is due to the private interests of the zinc lobby and those who create blanks for pennies.
Some argue that if the penny was no longer made then prices for consumer goods would go up. This would then lead to an increase in inflation, a scenario that would not be good for the economy. While this may have been true in the past when physical currency was used a majority of the time it holds little weight today. Currently 75 percent of monetary transactions are done digitally so prices of goods could potentially stay stagnant. Diehl also proposes that many companies would likely round down the penny or two in order to stay competitive or simply in the name of good customer service.
Another group points out that the nickel costs too much to make as well, coming in at 9.4 cents. While this is true, the nickel could still have its composition altered in order to make it profitable. This, however is not possible for the penny which is already made of 97.5 percent zinc.
The was founded in order to provide a superior outlet for investors looking to purchase precious metals. Created by veterans of the gold market the US Money Reserve prides itself on excellence in knowledge, customer service, and guidance when helping investors make decisions on which precious metals are right for them. Currently the US Money Reserve is the largest distributor of gold, silver, and platinum coins issued by the federal government.
The Zika virus is a virus that is transmitted through mosquitos. It was first identified in African countries such as Uganda, Sierra Leone and Tanzania. Dr. Sergio Cortes has also confirmed that the virus has made its way through Asia as well, affection India and Thailand. In 2015, the virus began to venture according to dino.com through Latin America which involved Brazil, Mexico and Columbia. The impact of the virus on the countries prompted the World Health Organization (WHO) which is responsible for warning others of the infection and possible symptoms to be aware of.
The Zika virus infection according to NPR.org has continued to increase and has become a major concern for many, especially pregnant women. The virus has been linked to cause microcephaly, a birth defect, that causes a small head and brain damage. It is possible that it may also be linked to Guillain-Barre syndrome. The Guillain-Barre syndrome is a neurological disease that is very serious and has been related to the zika virus, according to the WTO.
Most recently, the zika outbreak has affected many of the Brazilian citizens. Dr. Cortes has dedicated much of his findings and research to the virus, and has found that it is not contagious. It is contracted by an infected mosquito, however, if a mosquito bites a human that is infected, they will then have the virus which can be spread again. The mosquito is called the Aedes aegypti and harvest their eggs in clean water. The mosquito has been known to adapt well to other environments and has been able to lay eggs in other forms of water. Dr. Sergio Cortes has stated that recent research has shown that the eggs can remain dormant in dry areas for up to a year, and then began to develop once they touch water.
The symptoms usually last 3 to 7 days and most people generally experience a red skin rash, fever and joint pain. The symptoms are different for every person and symptoms generally last between that time frame, even without medication. Dr. Sergio Cortes verifies that there are not tests that can be ran to prove that the individual is indeed infected with the virus. The only way to diagnose the virus it to undergo a unique examination which can be complex and is only offered by three units in the country.
Unfortunately, there is no treatment to cure the disease, but only to treat and relieve the symptoms. The patient should avoid aspirin or any type of medication that has the active ingredient of acetylsalicylic acid because it can cause unknown bleeding and hemorrhaging. Most people that are infected with the virus utilize anti-inflammatory and analgesic type medicines to ease the symptoms that are caused by the virus. Dr. Sergio Cortes has dedicated much of his time and efforts researching the cause and effects of the virus and hopes to find a cure soon. The symptoms found aren’t known to be serious, but the virus can become serious if it isn’t treated properly and especially serious to pregnant women.
Manhattan real estate prices continue to rise, year over year, according to TOWN Residential, New York’s leading luxury real estate services company on townrealestate.com. In their most recent report, which covers the fourth quarter of 2015, they saw a 5.2% increase in the average sales price of Manhattan real estate.
The average selling price was $1,967,660 while the median sales price was $1,150,000, representing a 16% increase year over year. Many were expecting the Fall “soft patch” to have a negative effect on prices but that has not come to fruition.
In addition, the average price per square foot is reaching record levels. The end of 2015 saw the median price per square foot reach $1,365, which correlates to a 6.2% year over years gain. Average price per square foot came in at an impressive 8.4% increase at $1,505.
The median price for a Manhattan condo saw a 20% increase over a one year period at $1,736,250. Manhattan co-op prices had a relatively modest price increase with the median sales price coming in at $1, 272,902, a 4.6$ increase.
Andrew Heiberger, founder and CEO of TOWN Residential, attributes this quarterly increase to the closing of “trophy listings” in some high end new developments. He goes on the state they his firm is seeing some “stabilization” in prices as many sellers are now adjusting their price expectation lower.
TOWN Residential sees the power shifting to the buyers who are still willing to purchase but are becoming more price conscious.
New York City apartments for sale prices are escalating. The previous year was not any different. The One57 penthouse closed at $100.47 million while the condominiums at 157 West 57th hit the nine-figure digits. All over Manhattan, it was reported that the prices of town houses and condominiums had increased. It was a good year for real estate agents who recorded big sales.
In the coming months, the value of real estate in New York City is expected to go higher with the addition of the billionaire bunkers. They are scheduled to be added in areas such as the 432 and 520 parks, 220 Central Park and 56 Leonard. The record price will likely be doubled especially if a mega deal is reached in the coming years. Kenneth C. Griffin, a hedge fund manager with a net worth of $7 billion, purchased a triplex at Central park for about $ 200 million last summer. The purchase is not only the city’s largest single residence sale but the country’s largest single purchase.
Currently, half of the apartments at 220 Central Park South building created by Robert A.M Stern Architects are under contract. According to the chief executive officer of Vornado Realty Trust Steven Roth, Fourteen of the units were sold for about $50 million. According to the inventory, it is safe to say that the increased demand in real estate will boost the sales for the next couple of years.
According to the publication by New York Times, the top 20 sales of the year went for over $30 million while the top ten went for over $45 million. The sales included luxury condominiums, town houses and co-ups. The city’s most expensive single residence of 2015 went for $88 million.
Town Residential is a real estate firm based in New York City. The firm’s areas of focus are luxury residential and commercial real estate. Andrew Heiberger serves as chief executive officer Town Residential, which was founded in 2010. In the few years of its existence, Town residential has managed to carve a niche in the real estate industry.
The company has four offices within New York City to facilitate ease of access by the clients. The firm leases, markets, sell commercial and residential real estate. The corporation hires professionals that have been fundamental in boosting the firm’s image in the market. Town Residential has received a number of accolades for its contribution in the growth of the real estate sector and exemplary services.