Overnight Briefing & General Reality Check - Jul 18, 2012
July 18, 2012
Our neighbors to the north have reason to gloat: Canadians are on average wealthier than Americans.
In a column for Bloomberg News, STEPHEN MARCHE points to data from a study by Environics Analytics WealthScapes showing how in 2011 the net worth of the average Canadian household was $363,202 compared to the average American household at $319,970. That gives the average Canadian $43,232 more than the average American.
As the Toronto Globe and Mail pointed out, "these are not 60-cent dollars, but Canadian dollars more or less at par with the U-S greenback."
Not only are Canadians richer, they're also more likely to have a job. Canada's unemployment rate has fallen to 7.2 percent; America's remains stuck at 8.2 percent.
What's behind the success? Part of it is real estate. Canadians have fewer mortgages than Americans; the own more than twice as much real estate as Americans --own it outright, making their homes worth on average over $140-thousand more than that in America. (There is no mortgage interest deduction in Canada. --Maiman)
What exactly does it mean when you "like" a Facebook page? Not much, according to research from Appalachian State University professor TINA McCORKINDALE. She surveyed more than 400 18-to-29 year-olds, who said that while 75 percent of them "liked" an advertiser's page, around 69 percent never returned to it again.
Radio note: Tina points out that unless a company follows up on the initial "like" by building a real relationship with their customers (or "listeners") with various offers and some kind of value, "online fandom is fleeting."
JOHNNY DEPP's heart is breaking for more than one reason. According to Star magazine, not only is he licking his wounds from his split with VANESSA PARADIS, he's also been by his mom's side nonstop since she's been in California seeing a specialist to have fluid drained from her brain. (Myers)
Drug Bust of the Day:
Cincinnati-area police have broken up a three-million-dollar drug ring run by a 17-year-old high school kid.
For the last three years, the former honor roll student, who police say "looks like someone that would be in your church youth group," ran a team of six current and former students who sold high-grade pot to classmates at $350 to $400 an ounce. His little business was clearing around $20 grand a month.
He'll face felony charges in juvie court, which means he could spend up to three years in a detention center if convicted. Seven others were also indicted in the case.
Editor's note: Hats off to a "budding" entrepreneur! Bud. Pot. Get it? Pass me those chips.
--Business major or drug kingpin. You decide.
--Second smarted business whiz in the school: The guy who controls the vending machine. (Maiman)
Quote of the day: from JOANNA LUMLEY, who's Patsy Stone --half of the "Absolutely Fabulous" pair on British TV: "A lot of people have started to dress like lap dancers, and I don't know why. Everyone is judged so intensely by their appearance, but we've got to stop thinking that to look lovely you've got to go out in practically nothing."
Joanna, who's 66 now, says one good example is PRINCE WILLIAM's wife: "I think she sets a wonderful example. She is beautiful and graceful, and elegant beyond belief."
Here's a tall order: a boy between the ages of eight and 11 who can play a preteen BERRY GORDY, a young MICHAEL JACKSON, and an 11-year-old STEVIE WONDER. This is all for the new Broadway musical, "Motown," which opens next spring on Broadway. Motown founder Berry Gordy is writing and producing the musical. He's also in charge of the auditions. (Marino)
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