FROM Ray Madoff
Charitable Giving and Donor Advised Funds The most popular charity in America is United Way. The second most popular charity is Fidelity Charitable. If you haven’t heard of it, that’s because Fidelity Charitable isn’t really a charity at all, it’s what’s called a “donor-advised fund” run by the investment company Fidelity Investments. Donor-advised funds, or DAFs are growing. They control more than $70 billion in assets. But it’s not clear how much of that money actually makes it to charities.
'Ridiculous, Ostentatious Wealth' in America A conservative columnist reports that we're in " the second great Gilded Age ." A liberal author warns that "a bloated over-class can drag down society." But a New York Times Magazine article is headlined " Don't Hate Them Because They're Rich : The Trickle-down Effect of Ridiculous, Ostentatious Wealth." America's median income is $48,000, but the starting salary for some butlers is $60,000. Those numbers can be used to show that the massive wealth of the Super Rich "trickles down" to the rest of Americans, but not everybody sees it that way. In 20 years, the number of billionaires has gone from 13 to several 1000. Some see a permanent aristocracy in the making, while the middle class struggles to pay the bills. How did the super rich get that way? Are they good or bad for the economy?
Why did Jared Kushner want a back channel with Russians? News broke Friday that President Trump’s son-in-law and senior advisor, Jared Kushner, tried setting up a back channel between the Trump transition team and the Russian government. What are the consequences for Kushner, President Trump, and the investigation into Russian meddling?
Accusations of lying fly between James Comey and White House During his testimony Thursday, former FBI Director James Comey accused President Trump and other White House officials of lying when they said the FBI was in disarray and its staff had lost confidence in him. President Trump’s lawyer said Comey was wrong -- that the president never asked for his loyalty, and never asked him to back off the investigation into former NSA director Michael Flynn.
Farewell LA freeways, Peter Shire is back Angelenos don't want more freeways but we seem not to want mass transit either. Metro has killed the 710 freeway extension, and bus and train ridership is down across the region. What's the future of getting around in LA? And, Peter Shire is having a comeback. What attracts a new generation to his playful ceramics and furniture?
Industry insights and lessons learned from memorable guests We have interesting guests on The Business, and sometimes our conversations are too long to fit into one show. This week we give you stories that were too good to leave on the cutting room floor, including some sharp insights on making it in the industry from David Mandel, David Simon, Shawn Levy and Matt Reeves.