While Possible Finance can offer borrowers with bad credit (or no credit) quick, small loans, it charges higher APRs than some other personal loan lenders. This is how installment loans from Possible Finance compare to the competition.

Possible financing vs. upgrade

Upgrade offers personal loans starting at $1,000, so it might be a better option than Possible Finance if you need to borrow more than $500. In fact, you can borrow up to $50,000 with Upgrade, and APRs start at around 6% and go as high as 36%. Since Upgrade’s rates are much more competitive than Possible Finance’s, it might be worth checking if you qualify for one of their personal loans before borrowing an installment loan from Possible.

Upgrade requires a minimum credit score of 580 to qualify, making it a viable option for potential borrowers with damaged credit ratings.

Related: Update Personal Loans Review

Possible financing vs. SoFi

Possible Finance offers small loans up to $500, but SoFi funds personal loans ranging from $5,000 to $100,000. SoFi’s competitive APRs start at around 6%, but you must pass a credit check to qualify. SoFi requires a minimum credit score of 650. If you cannot qualify on your own, you can apply with a co-borrower, such as a co-borrower. B. a spouse or trusted friend.

Related: Review of SoFi Personal Loans

Possible funding vs. LightStream

Similar to SoFi, LightStream also offers personal loans ranging from $5,000 to $100,000, depending on the purpose of the loan, with competitive APRs that start in the single digits. While Possible Finance funds short-term loans, LightStream lets you pay off your loans over two to 20 years. You must have a minimum credit score of 660 to qualify for a LightStream personal loan.

Related: Review of LightStream Personal Loans

Hello market watchers. Don’t miss these top stories.

All-Pro Von Miller sells custom blend in Colorado for $4.1 million

Two-time Super Bowl champion Von Miller is selling his Denver-area mansion for $4,125,000. Continue reading

You can see why some retail stocks don’t like the shift from goods back to services.

By Wolf Richter for WOLF STREET.

Americans outpaced inflation by a good margin in April. “Real” goods spending – what consumers are buying at retail, adjusted for inflation – rose over the month but was below the peak of last year’s stimulus miracle. “Real” spending on services (like health care, travel, entertainment, etc., adjusted for inflation) surged after collapsing during the pandemic as the shift in spending away from goods back to services continues, suggesting that the skewed incentives economy is normalizing. Spending on services is the largest factor, accounting for over 60% of total consumer spending.

“Real” spending increased, approaching the pre-pandemic trend.

Inflation-adjusted spending on goods and services rose 0.7% in April from March to a new record and 2.8% from April’s stimulus miracle last year, the Bureau of Economic Analysis said today. It is now approaching the pre-pandemic trend as the consumer economy normalizes at pre-pandemic growth rates, all adjusted for inflation:

“Real” spending on services has skyrocketed, but there is still a long way to go.

Inflation-adjusted spending on services — health care, housing, education, airline tickets, housing, car rentals, entertainment and sporting events, haircuts, repairs, etc. — increased 0.5% in April vs. March and 5.9% yoy. Year.

Real spending on services eventually surpassed pre-pandemic levels and set a new record after spending on voluntary services slumped during the pandemic (e.g. air fares, voluntary health care such as dentists and elective surgeries, haircuts, etc.). It remains well below the pre-pandemic trend (green line) but is on the way to normalizing as spending shifts from goods back to services.

This sharp increase in “real” spending on services in recent months (+5.9% yoy) has boosted consumer spending, even as spending on goods has eased from stimulus-driven highs a year ago.

Spending on services matters: In April, it accounted for 61.4% of total consumer spending, but it’s still below the pre-pandemic average of over 64%. This is an indication that when services spending normalizes, it will continue to rise at a disproportionate pace (so watch out for services CPI inflation, which is beginning to eat everyone’s lunch).

Real spending on consumer goods is slowly normalizing to nosebleed levels.

Inflation-adjusted non-durable consumer spending – dominated by food, fuel and household goods – rose 0.2% for the month but declined 0.5% from the stimulus-miracle peak in April a year ago.

Even after the year-over-year decline, consumer spending on non-durable goods remains at levels that are up 12% from April 2019, well above the pre-pandemic trend (green line). But it is on the way to gradually normalizing and returning to the pre-pandemic trend:

Real spending on durable goods is suddenly increasing month by month.

So, just to whip up another surprise about the “tapped” or whatever American consumer, inflation-adjusted spending on durable goods rose 2.3% for the month, just when you thought consumers had bought everything they could needed and would withdraw.

Compared to the rise in the stimulus miracle last April, real spending on durable goods fell 6.5%. Spending remains at levels up 29% from April 2019 and continues to contribute to shortages and price spikes in some of these commodities, as well as the massive trade deficit, as many of these commodities are either made in other countries or contain components that these are made in other countries.

But you can see the uneven normalization, the regression to the pre-pandemic mean:

“Real” income below pre-pandemic trend.

Inflation-adjusted personal income from all sources fell 3.5% from April a year ago when stimulus money was still rolling in, but rose slightly from March (purple). This includes income from wages, dividends, interest, rent, farms, businesses, and government transfers (stimulus, social security, unemployment, welfare, etc.), but excludes capital gains. Late last year, as inflation soared, real incomes fell below pre-pandemic trends and stayed there. It’s up just 6.0% from April 2019.

Inflation Adjusted Income without transfer payments increased by 2.0% yoy and in April by 0.3% compared to March (red line). It fell below the pre-pandemic trend early in the pandemic. After a partial recovery, it has continued to lose ground since late last year on the back of the surge in inflation, and has remained essentially flat since November.

When it comes to “real” per capita disposable income, things look worse.

The income data above is for total income for all consumers combined, with income growth also being fueled by rising employment and population growth.

Here is the per capita level of “real” disposable income – that is, per capita income after taxes from all sources, which was flat for the month, down 6.4% from a year earlier and down a tiny 1 .8% is up in April 2019. And it’s well below pre-pandemic trends:

The sizeable increase in inflation-adjusted spending and the dour situation in inflation-adjusted income (which doesn’t include capital gains) show that consumers – not all, but enough to move the needle – are still fed up with money from the multi-billion dollar stimulus plans and with money , which they can draw from the rise in the prices of real estate, stocks and cryptos, where consumers have collectively made trillions of dollars, some of which they have already spent and some of which have disappeared in recent sell-offs, and others on which they still sitting and will continue to spend.

But to spend consumer credit, well … not so hot.

Not adjusted for inflation: Credit card balances, excluding other revolving credit such as personal loans, declined to $840 billion in Q1, still below Q1 2020 and Q1 2019 and back to Q1 2008 levels, despite 13 years of population growth and 37% CPI -Inflation (red line).

Other consumer lending, such as personal and payday loans, was also below pre-crisis highs at $450 billion, despite 13 years of population growth and 37% CPI inflation (green line).

For my detailed discussion of consumer credit across all categories, arrears, foreclosures, third-party collections and bankruptcies, read… Consumers can deal with the Fed’s tightening: their debt, arrears, foreclosures, collections and bankruptcies

Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally understand why – but do you want to support the site? You can donate. I appreciate it very much. Click on the beer and iced tea mug to learn how:

Would you like to be notified by email when WOLF STREET publishes a new article? Sign up here.

Is a $1,500 loan worth it if it costs another $1,500 in interest and fees?

That’s what payday lenders would be authorized to charge defaulting consumers in Louisiana if Gov. John Bel Edwards allows it Senate bill 381 become law.

The legislation would allow lenders to offer installment loans worth up to $1,500 over three to 12 months with an annual interest rate of up to 36% and a monthly “upkeep fee” of up to 13% of the original loan amount. Loans over $400 may also incur a $50 subscription fee.

The proposal, which flew through the Legislature and is now on Edward’s desk, would limit the cost of financing to 100% of the original loan amount – meaning lenders could charge up to $1,500 in fees on a $1,500 loan for a total payback of $3,000.

SB381’s sponsor, Senator Rick Ward, a Port Allen Republican, dubbed the measure the Louisiana Credit Access Loan Act and says the new loan product will help Louisiana residents who live paycheck to paycheck so they can get over making ends meet unexpectedly high spending.

But critics say it’s a predatory product and allowing payday lenders to make larger, longer-term loans with sky-high fees will trap low-income Louisiana residents in debt cycles.

“This harmful law is aimed at the hard-working families of Louisiana who do not deserve to have their scarce assets snatched away by a machine designed to trap them,” said Davante Lewis of the Louisiana Budget Project, serving low- to middle-income residents. “The governor should immediately veto this bill.”

The state’s current payday loan system allows lenders to offer a loan of up to $350, which is due on a borrower’s next payday. The maximum amount a payday lender can make per loan is $55. Ward’s proposal does not replace or reform this system. Instead, a new product is created.

Lenders offering the new product described in SB381 would make most of their money with a monthly “maintenance fee” of up to 13% of the original loan amount.

For a $1,500 loan, that fee would be $195 per month.

Alex Horowitz, a consumer finance researcher at The Pew Charitable Trusts, said he’s never seen a fee this high.

“We find that the bill would expose Louisiana consumers to financial harm rather than create an affordable credit market like that seen in states that have successfully reformed their payday loan laws,” Horowitz said written in a letter for both Ward and Edwards.

Kenneth Pickering, who has twice served as Louisiana’s top banking regulator, said he has no idea what the monthly maintenance fee even covers.

“Once a loan is on the books, there’s nothing left to maintain,” he said, adding that the fee was “nothing but more interest.”

Pickering, who represents the Louisiana Finance Association, an organization of more than 600 state lenders, told lawmakers, “That fee, in my opinion, makes this bill a violation of our usury laws in Louisiana.”

“The Good Alternative”

Ward argues that the new loan product is needed for Louisiana residents who cannot obtain a loan of a similar size elsewhere.

“As soon as someone offers an alternative, and I don’t mean an alternative that’s just a pie in the sky, but a viable alternative, I’ll be there to support it, but I haven’t seen it yet,” Ward told his colleagues. “Until then, I think this is the best we have to offer.”

But Stanley Dameron, whom Edwards appointed commissioner for the Office of Financial Institutions, told lawmakers there were many alternatives.

“Some of the people who would apply for these loans might not qualify at your bank, but they certainly would at a credit union or financial firm,” Dameron said.

Jessica Sharon of Pelican State Credit Union told lawmakers it’s a “myth” that there aren’t similar borrowing options for those in financial need. She noted that credit unions were formed specifically to help people of modest means.

“Our goal is to help people who are struggling with their finances, who have low incomes and low credit scores,” Sharon told lawmakers. “Not only are we against (SB381), we also know that we are a good alternative.”

There are 165 credit unions in Louisiana, and 133 cater specifically to low-income demographics, Sharon said, adding that many already offer installment loans without having to charge a 13% monthly maintenance fee.

Ward argues that the legislation would help those whose financial history has prevented them from opening a bank account. But Horowitz, with Pew, said payday loan borrowers need to have a checking account somewhere.

“These aren’t the bankless,” Horowitz said. “You must have a checking account to get a payday loan.”

Horowitz noted that seven of the country’s 12 largest banks have started or recently announced programs to provide small loans to customers.

Local vs. national

Behind Ward’s proposal are two non-government companies that together own dozens of Check-Into-Cash and ACE Cash Express locations across the state.

But not all payday lenders are on board with the bill.

Troy McCullen of the Louisiana Cash Advance Association, which represents Louisiana-based payday lenders, said there was no need for the new product.

“These loans are already available in Louisiana at a fraction of the cost,” McCullen said. “This is greed and arrogance at the highest level.”

McCullen made similar comments four years ago when Ward supported another measure that allowed payday lenders to offer longer-term installment loans. This measure failed at a committee of the House of Representatives.

Pickering of the Louisiana Finance Association said another problem with SB381 is that borrowers only have one day to cancel the loan. He said this is a “very short timeframe for anyone to reconsider.”

He also noted that the 100% cap on fees and interest does not include late fees or insufficient fund fees.

SB381 supporters include Community Choice Financial, an Ohio-based company that owns Check Into Cash, and Populus Financial Group, a Texas-based company that owns ACE Cash Express.

Finance America Business Group, a Louisiana-based company that owns Cash 2 U stores, supports the measure, as does the Louisiana Payday Loan Association, which represents local lenders.

The bill passed the Senate in April by a 20-14 vote, just enough to pass. State Senator Gary Smith, whose wife Katherine Smith is a registered lobbyist for Community Choice Financial, was the only Democrat in that first vote to support the measure.

“She never spoke to me about it,” Sen. Smith said in an interview, adding that payday lenders are the “only place some people have to go to get a loan.” You can’t go to a bank. You can’t go to a credit union.”

The measure passed the House of Representatives by a vote of 54 to 35 in May.

The Legislature sent the bill to Edward’s desk on May 19. Under the Louisiana Constitution, the governor has 10 days after receiving a bill to sign it, veto it, or allow it to go into effect without his signature.

---

---

Previous article Next article

Retail therapy in bars and restaurants, cannabis shops and e-commerce? Other retailers aren’t so lucky.

By Wolf Richter for WOLF STREET.

Retail sales rose 0.9% in April from March after rising 1.4% in March from February to $678 billion, and were up a seasonally adjusted 8.2% from a year earlier, the Commerce Department reported today. Retail sales are sales of goods only, not services. And for months we have seen a widespread shift in consumer spending away from goods and back to services, where spending had collapsed during the pandemic but is now picking up sharply.

These retail sales today confirm this trend: Despite the shift in spending towards services, consumers are still spending huge sums on goods and retail sales growth has been close to the rate of inflation, with “real” growth (adjusted for inflation) trending down since inflation-adjusted spending on services more than offsets this.

Consumers are in a bad mood but haven’t reined in their spending.

Rampant inflation has outstripped income growth for many Americans, and they’re also shifting spending to services. And yet retail sales have continued to grow, including e-commerce sales. In terms of shifts, what’s intriguing is that there’s been a big boom in bars and restaurants and in various businesses, most notably cannabis retailers — where sales have far outpaced inflation.

This jump in sales comes despite consumer sentiment falling to a decade low in May, according to the University of Michigan Consumer Survey. Overall sentiment was weighed down by concerns about raging inflation, which has spread across all sectors of the economy and is hitting consumers every day (data from the St. Louis Fed and University of Michigan Survey of Consumers):

Shopping Spree? It’s as if consumers are trying to overcome their sadness and anger over inflation with classic retail therapy to make them feel better — and they’re doing it in bars and restaurants, specialty stores, including cannabis stores, and e-commerce. Other retailers aren’t so lucky.

Sales at new and used car and parts dealers, the largest retail category, rose 2.2% in April from March to $132 billion, seasonally adjusted, but down 1.7% year over year. Used car prices have been falling month-on-month, although still much higher than a year ago, while new car prices have continued to rise at a record pace as new car dealers are woefully low on inventories. And retail sales dollars are the result of this mix:

Sales at e-commerce and other “non-store retailers” rose a seasonally adjusted 2.1% in April from March to $107 billion and was up 12.7% year-on-year. This is the second largest retailer category and includes the e-commerce operations of traditional brick-and-mortar retailers like Walmart:

Grocery and Beverage Stores: Revenue for the month fell a seasonally adjusted 0.2% to $77 billion but was still up 7.1% year over year, driven solely by price increases:

Gastronomy and drinking establishments: Sales at these bars, restaurants, coffee shops, cafeterias, etc. were up a seasonally adjusted 2.0% for the month to a record $84 billion and up 19.8% year over year. This growth rate is almost 3 times the CPI ‘eating out’ inflation rate (7.2%), which indicates that people are going out to indulge and enjoy themselves, perhaps drowning their bad moods with the appropriate liquidity, and are spending heroic amounts of money to do so it.

Convenience Stores: Sales were basically flat at a seasonally adjusted $57 billion this month, up just 0.8% from the stimulus triggered in April a year ago. Walmart and Costco belong in this category, but department stores do not.

gas stations: Revenue for the month fell 2.7% to a seasonally adjusted $62 billion due to falling gasoline prices. Year over year, revenue was still up 36.9%, solely due to the year over year increase in gasoline prices.

Building materials, garden supplies and equipment stores: Sales were roughly flat for the month at $43 billion, up 1.7% for the year from Stimulus Miracle April:

Clothing and Accessories Stores: Revenue increased 0.8% month-to-month and 8.0% year-on-year to $26 billion, on a seasonally adjusted basis:

Various retailers (including cannabis stores): Revenue for the month rose 4.0% to a record $15.9 billion (seasonally adjusted) and was up 19% year over year. This category tracks specialty stores, including cannabis stores, which have become one of the hottest trends in brick-and-mortar retail as some of the black market business comes to earth:

Department Stores: Revenue for the month rose 1.1% to $11.5 billion, up 2.9% year over year. Volume decreases were compensated by price increases. Sales are down 42% from the peak in 2000 as this store format has fallen out of favor with Americans, resulting in the closure of thousands of stores and numerous bankruptcies:

Furniture and furnishing stores: Revenue for the month rose 0.7% (seasonally adjusted) to $12 billion, up just 0.8% year-on-year despite price increases:

Sporting goods, hobby, book and music shops: Sales for the month declined 0.5% to $8.9 billion (seasonally adjusted) and declined 5.4% year-on-year:

Electronics and Appliance Stores: Revenue for the month rose a seasonally adjusted 1.0% to $7.8 billion but declined 5.2% year over year. This segment includes only sales at specialty electronics and gadget stores such as Best Buy or Apple Stores. Electronics and home appliances is a big business that spans many types of retailers such as general merchandise and e-commerce retailers, and sales of electronics and home appliances at these retailers are included in their segments (above).

Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally understand why – but do you want to support the site? You can donate. I appreciate it very much. Click on the beer and iced tea mug to learn how:

Would you like to be notified by email when WOLF STREET publishes a new article? Login here.

Tesco, the UK’s largest grocery chain, really expands on the idea of ​​the supermarket.

According to a report by The Guardian, the grocer is piloting an initiative to bring 3,800 square meters of flexible workspace to a store in south London’s New Malden, in partnership with office space operator IWG. Additionally, the space will be located on the store’s upper mezzanine level and will include 30 co-working spaces, 12 OpenDesks (a more private option) and a meeting room, according to The Independent.

“We’re excited to be working with IWG to offer customers the ability to work more flexibly from their local Tesco,” Louise Gutland, head of strategic partnerships at Tesco, in a statement. “We’re always striving to better serve our customers and communities, and we’re excited to see how they respond to this new opportunity.”

This workspace is reportedly taking up space formerly occupied by items that consumers no longer buy from brick-and-mortar stores — such as music and videos, and electronics. It’s not yet known if such spaces are planned in the future, although The Guardian reported that it “is thought likely” that the companies will expand their partnership if this location proves popular.

“People don’t want to commute hours every day and instead want to live and work in their local communities,” IWG Founder and CEO Markus Dixon said in a statement. “A Tesco Extra in a suburban location in the heart of a vibrant community is the perfect location for flexible office space.”

The news comes as grocers on every continent are using their position to expand into additional non-food categories. These companies are in a unique position among retailers as they regularly get customers through the door, often several times a week, as groceries are a daily necessity.

By trying out new offerings that target other parts of shoppers’ daily routines, these supermarkets are able to build deeper relationships with their customers. PYMNTS research found that businesses that engage with consumers across more pillars of the connected economy — how they work, pay and get paid, shop, eat, bank, travel and have fun, connect with others, stay healthy and live – are at an advantage in today’s competitive market.

Continue reading: How consumers live in the connected economy

Take the Hy-Vee supermarket chain, for example, which operates more than 280 stores in the Midwest. The grocer announced in September that it was working with exercise equipment brand Johnson Fitness & Wellness to offer fitness showrooms in select stores where shoppers can try out treadmills, elliptical trainers, stationary bikes and other equipment.

See more: Hy-Vee opens fitness showrooms

That same month, Texas supermarket chain HEB, which operates hundreds of stores in Texas and Mexico, announced its partnership with retailer James Avery Artisan Jewelry to bring jewelry stores into its stores.

Continue reading: HEB joins store-in-a-store trend with new partnership with jewelry stores

With initiatives like these, grocers are expanding their relationship with their customers beyond their shopping routines and becoming a more integral part of customers’ lives.

The city council at its May 5 meeting approved a pilot program to provide 85 households with monthly payments of $1,000 for a full year. Once people are included in the guaranteed income Pilot, you do not have to “prove” that you still need the assistance, as many government financial assistance programs typically require.

The pilot will cost $1.18 million, of which $152,000 will be paid UpTogether, a California non-profit organization that will administer the program. The remaining funds, approved by the council as an addendum to the budget for fiscal year 2022, will go to eligible families. UpTogether has experience managing direct cash assistance in Austin as part of the city COVID-19 Relief efforts and works with the St David’s Foundation on a similar guaranteed income pilot program.

These programs are guided by two core principles: that poor people know best what to spend their money on, and that their needs can change faster than traditional public assistance programs (rent subsidies, meal subsidies, childcare subsidies, etc.) can keep high. Austin Chief Equity Officer Brion oaksreferred to investigations by the city in a memo to the council innovation office who noted that fast-breaking financial “shocks” are “the most prominent driver.”[s] of eviction” as they mix with other financial burdens—like overdue bills that drive up late fees or payday loans that accrue interest—that can lead to evictions. Unrestricted income support, Oaks wrote, is not a “gift” of public money but a “vital investment in families and individuals” that can improve their health and wealth to the point where they require less long-term help from the public sector.

mayor Steve Adler alluded to this in his comments before the Council approved the programme. “I just think [it’s] so misleading and so wrong” for people to characterize government aid programs as “giveaways,” he said?” Adler also linked the guaranteed income program, which he hopes employees can expand and sustain in the years to come after the pilot, with the city’s broader efforts to reduce homelessness.

Mayor Per Tem Alison age voted against the program and stated in a pre-vote remark that it was a complex decision for them. Alter acknowledged that the program would help families in need, but given the tremendous need in the city and the limited financial resources the city can dedicate to meet those needs, she felt it wasn’t the right kind of program for the city. “When I look at all the levers I have to help families meet basic needs,” Alter said, “I don’t come to the conclusion that this investment is the best path for me at this point in time this needs to respond.” Council members Leslie pool and Mackenzie Kellywho both have similar reservations about guaranteed income (and, in Kelly’s case, the proper role of government), did not attend the May 5 meeting.

Guaranteed income programs have lofty goals, and while similar programs exist in about 50 American cities, they remain largely untested as a means of reducing poverty. The council’s vote on creating Austin’s pilot project was postponed from its April 21 meeting, in part because of questions about evaluating its effectiveness. Employee intends to work with Municipal Institute, a DC-based think tank, to assess the program’s success. This analysis includes interviews with participants and stakeholders to identify potential improvements for future iterations of the program, and a “quasi-experimental quantitative analysis” comparing results for program participants and non-participants. Some suggested metrics include the ability to cover a $400 emergency expense; Ability to access preventive health care and eat healthily; and “Ability to live a full life,” which could be measured by how often guardians cook meals for children or have time for hobbies and interests.

CMs also raised concerns that Texas law may not allow for a guaranteed income program that is not designed to address specific public policy challenges the city is facing. Staff intend to focus on qualifying indicators to select participants, such as: B. Households facing eviction, utility customers who consistently miss payments, or people transitioning from homelessness to supportive housing.

For now, all the data we have on UpTogether’s success comes from the nonprofit itself. At a press conference earlier in the day Ivana Neri, Southwest Partnership Director of UpTogether, said preliminary results from the St. David’s Foundation pilot showed that all 125 participants in the program used the money to pay for basic necessities such as shelter, food, clothing and gas. An independent analysis of a publicly funded pilot project could go a long way toward testing the underlying theory of guaranteed income: that empowering people through unlimited financial support can be an efficient and more dignified way to reduce poverty.

The city council at its Thursday, May 5 meeting approved a pilot program to provide $1,000 in monthly payments to 85 households for a full year. Once people are included in the guaranteed income Pilot, you do not have to “prove” that you still need the assistance, as many government grant programs typically require.

The pilot will cost $1.18 million, of which $152,000 will be paid UpTogether, a California-based nonprofit with which the city is partnering to administer the program. The remaining funds, approved by Council as an addendum to the FY2022 budget, will go to eligible families. UpTogether has experience managing direct cash assistance in Austin as part of the city COVID-19 Relief Efforts in 2020 (when the group was still known as The Family Independence Initiative) and also works with the St David’s Foundation on a similar guaranteed income pilot program.

These programs are guided by two core principles: that poor people know best what to spend their money on, and that their needs can change faster than traditional government support programs (rent subsidies, meal subsidies, childcare subsidies, etc.) can keep high. Austin Chief Equity Officer Brion oaksreferred to investigations by the city in a memo to the council innovation office who have noted that such quick-breaking “financial shocks” are “the most prominent causes of displacement” as they mix with other financial stresses — such as overdue bills causing arrears fees or payday loans with interest — that can lead to eviction. Unrestricted income support, Oaks wrote, should not be viewed as a “gift” of public money, but as a “crucial investment in families and individuals” that can improve their health and wealth to the point where they require less help from the public sector in the long-term.

mayor Steve Adler alluded to these ideas in his comments before the Council approved the program. “I just think [it’s] so misleading and so wrong” for people to characterize government aid programs as “giveaways,” the mayor said. “The concept tested is, What if you actually trust people to get a dollar and spend it in whatever way makes most sense for their family?” Adler also linked the Guaranteed Income Program, which he hopes will help the Employees will be able to expand and sustain it for years to come after the pilot, with the city’s broader efforts to reduce homelessness.

Mayor Per Tem Alison age voted against the program and stated in a comment before the vote that it was a complex decision for them. Alter acknowledged that the program would help families in need, but given the tremendous need in the city and the limited financial resources the city can dedicate to meet those needs, she felt a guaranteed income wasn’t the right thing kind of program for the city to take over. “When I look at all the levers I have to help families meet basic needs,” Alter said. “I have not been able to conclude that this investment is the best way for me to address those needs at this time.” Leslie pool and Mackenzie Kellyboth of whom have similar reservations about guaranteed income (and, in Kelly’s case, the proper role of government), did not attend the May 5 meeting.

Worth reading: “We recognize that life in Austin is getting much more expensive and more and more people are struggling to make ends meet. https://t.co/BVh7dSi7bK

— Mackenzie Kelly (@mkelly007) May 4, 2022

Guaranteed income programs have lofty goals, and while similar programs exist in about 50 American cities, they remain largely untested as a means of reducing poverty. The council’s vote on creating Austin’s pilot project was postponed from its April 21 meeting, in part because of questions about evaluating its effectiveness. Employee intends to work with Municipal Institute, a DC-based think tank, to assess the program’s success. This analysis includes interviews with participants and stakeholders to identify potential improvements for future iterations of the program, and a “quasi-experimental quantitative analysis” comparing results for program participants and non-participants. Some suggested metrics include the ability to cover a $400 emergency expense; Ability to access preventive health care and eat healthily; and “Ability to live a full life,” which could be measured by how often guardians cook meals for children or have time for hobbies and interests.

Concerns have also been raised by CMs that Texas law may not permit a guaranteed income program that is not designed to address specific public policy challenges the city is facing. Staff intend to focus on qualifying indicators to select participants, such as: B. Households facing eviction, utility customers who consistently miss payments, or people transitioning from homelessness to supportive housing.

For now, all the data we have on UpTogether’s success comes from the nonprofit itself. At a press conference earlier in the day Ivana Neri, Southwest Partnership Director of UpTogether, said preliminary results from the St. David’s Foundation pilot showed that all 125 participants in the program used the money to pay for basic necessities such as shelter, food, clothing and gas. An independent analysis of a publicly funded pilot project could go a long way towards testing the underlying theory of guaranteed income – that empowering people through unlimited financial support can be both an efficient and a more dignified way to reduce poverty.

Kansas Baseball Tops Omaha as Jayhawks Record Program Win Number 2,000

details

Kansas Jayhawks Athletics

baseball

May 05, 2022

Kansas Baseball won its 2,000th game in program history Wednesday, beating Omaha 11-3 at Tal Anderson Field. Head Coach Ritch Price has been at the helm for 580 of those 2,000 program wins.

Pitchers of record
Victory: Stone Hewlett (2-1)
End line: 2.0 IP, 0 H, 0 R, 0 BB, 2 SO

Loss: Parker Weddle (0-1)
End line: 2.0 IP, 5 H, 5 R, 2 BB, 3 SO

HOW IT HAPPENED
• Omaha (20-22) took a 3-0 lead early in the first inning when Eduardo Rosario hit a three-run homer.
• Kansas put up nine runs in the third inning to take a comfortable 9-3 lead. KU sent 15 hitters to the plate and scored the nine runs and seven hits.
• With bases loaded and no outs, Caleb Upshaw and Nolan Metcalf each delivered RBI singles to close the gap to 3-2.
• Jack Hammond and Ryan Callahan would then have their own RBI singles before Jake English hit a sacrificial fly and gave the Jayhawks a 5-3 lead.
• Payton Allen then hit a two-run single down the middle before Dylan Ditzenberger closed the inning with a two-run double for a 9-3.
• The Jayhawks added two runs on RBI singles by Hammond and English in the fourth inning.

PLAYER OF THE GAME
Caleb Upshaw: After being named Big 12 Co-Player of the Week and Newcomer of the Week, Upshaw went 2-on-4 with an RBI, a run score and a walk.

NUMBER OF THE GAME
2000: In Kansas’ 132nd baseball season, the Jayhawks won their 2,000. Game. The program’s first season was 1880, but KU did not field a team for several years.

QUOTABLE
“I think everyone who has ever coached at KU is really proud of the achievement that was achieved today. Two thousand wins for one program is incredible. If you factor in the weather in Kansas, when Coach Temple and the young men before him were the coaches, when they didn’t have indoor facilities and no turf back then, you had to be tough to play in Kansas those days. I’m just proud to be involved and proud to be part of the program. I want to compliment all the previous coaches and of course the players because this is a player game. It’s an amazing achievement.” – Head Coach Ritch Price

REMARKS
• Kansas’ nine runs scored in the third inning were the most in an inning this season.
• Tavian Josenberger extended his on-base streak to 22 games.
• Upshaw have scored at least two goals in six of their last seven games. He has 15 multi-hit attempts this season.
• Allen had his first multi-hit game of his career.
• Metcalf finished 2-for-4 with an RBI, two runs scored and a walk. He now has 14 multi-hit games this year.

NEXT
Kansas (19-27) will travel to Manhattan for the Dillons Sunflower Showdown against Kansas State on Friday at 6pm CT. All three games will be broadcast on Big 12 NOW on ESPN+ and live audio will be available on the Jayhawk Sports Network.