• Jobs and Working

    D.C. neighborhoods that voted ‘Yes’ to raise the tipped minimum wage have nearly twice as many restaurant and hospitality workers

    D.C. City Council held a hearing yesterday to consider overturning Initiative 77, which would gradually raise the tipped minimum wage for D.C. workers from $3.33 to $12.50, rising to $15 along with the base minimum wage in 2020. Opponents of the Initiative claim to have the backing of not only the District’s restaurant owner and operators, but the city’s restaurant servers and bartenders as well.  At yesterday’s hearing, Jill Tyler, Co-Owner of Michelin-starred restaurant Tail Up Goat in Adams Morgan said “by and large, the current system works,” resulting in workers “who can afford to buy a home, who can afford to raise a family,” noting that 40 of her…

  • Banking,  Credit Cards

    “I’m not falling for your tricks” and other mixed reactions to credit limit increases

    All it takes is a quick search on Twitter to see that credit limit increases drive incredibly strong and oftentimes mixed emotional reactions for Americans. To clarify, when I say ‘credit limit increase’ here, I’m talking about when a credit card issuer raises the limit of how much a customer is able to spend or borrow. In theory, having access to more credit — that you’re under no obligation to use — seems like it would be a strictly good thing. It’s there if you need it, and if you don’t use your higher credit limit, your credit score will typically go up (this article explains why). But clearly, many…

  • Banking

    From Occupy to a Credit Card Company, and now what?

    I think there were about a dozen of us who slept outside with Occupy Duke in  October and November of 2011.  It was unseasonably cold and wet, and while Duke students in theory love to sleep in tents , protesting inequality and imagining new economic orders wasn’t high on the student body’s priority list. It was clear to me then, as it is clear to me now, that banking has done so much to build prosperity for some nations and some people, and has either done nothing or backfired for other nations and other people. So why, two years after Occupy did I go work for a credit card company, and…