Inside Business Annual Power List 2024: 55 Power Players ⁘ The Virginian-Pilot

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Inside Business creates its annual Power List to showcase who⁘s who in terms of moving the needle for the economy in Hampton Roads, whether they be the decision-makers, the influencers or those working behind the scenes. This year, we organized the Top 25 by types of influence or power rather than a numerical ranking. We then listed another 55 power players from various backgrounds and sectors. In researching movers and shakers, we looked at last year⁘s list and then looked at the newsmakers of the past year. We factored in major milestones or current events to determine who to highlight instead of creating a directory of anyone who⁘s held power over the years.

Dr. Alfred Abuhamad is president, provost and dean at Eastern Virginia Medical School, where he is also professor of obstetrics and gynecology and radiology. Under his leadership, EVMS is working to integrate with Old Dominion University to leverage their combined resources to strengthen research and training in what would become the state⁘s largest medical school. A faculty member at EVMS and a citizen of Hampton Roads for 31 years, Abuhamad is well known internationally for his work in ultrasound, prenatal diagnosis, fetal echocardiography, global outreach and patient safety.

Since becoming the seventh president of Norfolk State University in 2019, Javaune Adams-Gaston has led the opening of the NSU Innovation Center, a business incubator designed to establish job and training pipelines, and is working to build a joint School of Public Health with Old Dominion University and Eastern Virginia Medical School with support from Sentara. Norfolk State is also working with EVMS and Sentara in a Hampton Roads Biomedical Research Consortium.

Under Adams-Gaston⁘s leadership, Norfolk State has expanded its online programs, gained recognition as an academic leader in cybersecurity, developed the Center for African American Public Policy and landed a $40 million gift from billionaire philanthropist MacKenzie Scott. Construction is slated to start this year on a $122 million science building. Adams-Gaston serves on numerous boards and is part of the White House advisory board on historically Black colleges and universities.

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Think "Spaving" ⁘ Or Spending To Save ⁘ Can Save You Money? Think Again.

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Americans are choking on surging fast-food prices. "I can't justify the expense," one customer says - CBS...

Kevin Roberts remembers when he could get a bacon cheeseburger, fries and a drink from Five Guys for $10. But that was years ago. When the Virginia high school teacher recently visited the fast-food chain, the food alone without a beverage cost double that amount.

Roberts, 38, now only gets fast food "as a rare treat," he told CBS MoneyWatch. "Nothing has made me cook at home more than fast-food prices."

Roberts is hardly alone. Many consumers are expressing frustration at the surge in fast-food prices, which are starting to scare off budget-conscious customers.

A January poll by consulting firm Revenue Management Solutions found that about 25% of people who make under $50,000 were cutting back on fast food, pointing to cost as a concern.

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The sneaky tricks chain stores use to make YOU spend more money | Daily Mail Online

Other examples might be a 'limited-time deals' or promises of bigger savings or free shipping for hitting spending thresholds.

Deals offered by many retailers can only be claimed by spending money - and that can sometimes lead to bigger problems as shoppers take on credit card debt to finance .

'We are just constantly spending more than we can afford and then we experience stress related to our financial health,' said Klontz.

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"I understand the appeal of getting to checkout and a notification pops up saying spend $10 more to get some perk," LendingTree senior economist Jacob Channel told CBS MoneyWatch. "But 90% of the time, when you break it down, it doesn't make sense. You're not actually saving money if you are spending more of it."

A number of common marketing offers dangle the lure of savings ⁘ provided that you splash enough cash. They include:

If these tactics sound familiar, it's because they're widely used by a range of retailers, from grocery chains to clothing stores, noted Bankrate personal finance expert Ted Rossman.

To be sure, there's nothing illegal or even especially underhanded about such offers ⁘ merchants are in the business of making money, after all, while consumers bear some responsibility for determining if a deal is worthwhile.

By the same token, it's also on shoppers to be alert to sales gimmicks that subtly nudge them to overspend.

"Retailers have always known this trick, and they're really good at what they do," personal finance expert Rachel Cruze told CBS MoneyWatch. "They know that if we put a sale on or offer free shipping if you spend 'X' amount, you'll spend more money. Psychologically, they're good at knowing how to entice people."

But why do consumers fall into the trap of spending more in the name of saving? Part of it often comes to FOMO, or the fear of missing out, on a limited-time sale or other purported bargain, money coach Nicole Victoria told CBS MoneyWatch.

"It's about loss-aversion, or the perception of loss," she told CBS MoneyWatch. "You feel like you're losing money by paying for shipping, and you've invested time and resources into filling up your shopping cart, so you'd rather gain something more."

Do I Have To Pay My Staff Overtime? | Carr Maloney P.C.

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Portland Unanimously Passes New Regulations For Camping On Public Property

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"Addressing the issue of unsheltered homelessness in the city is obviously a complex as well as an urgent order," said Mayor Ted Wheeler, whose office drafted the ordinance. "And I believe that this ordinance represents a significant step forward in our ongoing efforts to manage public spaces effectively."

The proposal allows people experiencing homelessness to camp on public property if no shelter beds are available, which is often the case in Multnomah County. But it limits what people can do while camping. For instance, the policy prohibits people from using a propane heater, digging into the ground, starting a fire, selling bicycles or car parts, or blocking access to private property while camping.

Those who violate these rules could be fined up to $100 or be sentenced to up to seven days in jail. People could also face the same penalties if an outreach worker with the city informs them that shelter space is available, but they refuse to pack up their camp.

This proposal replaces a public camping ban the city passed last year, which has been stalled by litigation .

The decision comes as laws regulating public camping remain in flux. Last month, the U.S Supreme Court heard arguments in a case from Grants Pass, Oregon, in which the city argued that penalizing unsheltered people for sleeping outside doesn't violate the U.S. Constitution — despite an earlier federal ruling saying otherwise. Justices are expected to issue a ruling in June.

If the court rules in Grants Pass' favor, Portland wouldn't be able to immediately begin penalizing people camping in public spaces. It would still need to adhere to a state law that directs cities to establish rules that allow for public camping if there isn't shelter space available.

"These code changes fail to respond in the strong manner that Portlanders are asking for," he said. "However, in discussions with law enforcement, they want something on the books, even if flawed."

The World's Economic Order Is Breaking Down

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The dysfunction at the WTO is emblematic of a world where the institutions and rules intended to foster international trade and investment are falling into abeyance. Every day brings alarming new headlines. The European Union, although supposedly both more supportive of free trade and more determined to reduce its greenhouse-gas emissions than other economic powers, is on the verge of imposing duties on Chinese electric vehicles. Last month EU officials raided a big Chinese security-equipment maker as part of a probe into subsidies. America recently imposed sanctions on more than 300 entities, including some in China and Turkey, for providing support to Russia's armed forces.

This article appeared in the Briefing section of the print edition under the headline "The great regression"

SEC Accuses Truth Social Auditor Of Fraud, Bars It From Accounting Work

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The auditor, BF Borgers, and its owner, Benjamin Borgers, agreed to a permanent suspension from accounting work and to pay $14 million in civil penalties, federal regulators said.

U.S. Money Supply Is Doing Something So Rare That It Hasn't Happened Since The Great Depression -- And A Big Move...

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Disney earnings, Fedspeak: What to Watch Next Week

As the trading week draws to a close, it's time to look ahead at the key events that will take center stage for Yahoo Finance in the upcoming week.

The earnings season continues to unfold, with notable companies such as Disney ( DIS ), Uber ( UBER ), and Toyota ( TM ) scheduled to report their quarterly financial results on Tuesday.

Additionally, another round of Federal Reserve commentary is on the horizon. Richmond Fed President Tom Barkin and Fed Governor Lisa Cook are expected to share their perspectives on the central bank's policy outlook.

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Paramount is on the verge of a deal: How it got here

Shares of Paramount Global (PARA) spiked in the afternoon on Thursday after a report revealed that Sony Pictures and Apollo Global Management ( APO ) submitted an all-cash $26 billion offer for the company. How did the Paramount get here, and where could it settle on a deal?

Yahoo Finance Reporter Alexandra Canal outlines the timeline behind Paramount's journey to a potential deal.

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Over the previous four years, Wall Street has been a stomping ground for volatility. In successive years, beginning in 2020, the ageless Dow Jones Industrial Average ( ^DJI 1.18% ) , broad-based S⁘P 500 ( ^GSPC 1.26% ) , and growth stock-driven Nasdaq Composite ( ^IXIC 1.99% ) have traded off bear and bull markets .

Although the stock market has been a proven wealth creator over the long run, predicting where it'll head in the days, weeks, or months to come simply can't be done with any concrete accuracy. Nevertheless, it doesn't stop investors from trying to forecast the future to gain an edge.

While nothing is set in stone over the short run, a select group of predictive indicators and money-based metrics have a remarkable track record of "forecasting" shifts in the U.S. economy and/or the stock market.

One of these tools, which appears to be a forewarning of a big move to come in stocks, is the U.S. money supply.

Though there are five different measures of money supply, the two with the greatest importance are M1 and M2. The former takes into account all the cash and coins in circulation, as well as demand deposits in a checking account. It's easily accessible capital that can be spent at the proverbial snap of a finger.

On the other hand, M2 utilizes everything in M1 and adds in money market accounts, savings accounts, and certificates of deposit (CDs) below $100,000. We're still talking about capital that can be spent with relative ease, but some extra steps are required to get to it. It's this metric, the M2 money supply, that is raising red flags for the U.S. economy and Wall Street.

What's interesting about the M2 money supply garnering attention is that it's a metric most economists tend to ignore. It's been steadily rising for so many decades that it's almost taken for granted that the money supply will expand as the U.S. economy grows over time.

Based on data from the Board of Governors of the Federal Reserve, the M2 money supply peaked in April 2022 at $21.722 trillion. As of March 2024, M2 came in at $20.841 trillion. While this might look like a fairly tame decline of $881 billion (4.06%) spanning roughly two years, it represents the first decline of at least 2% in M2 money supply since the Great Depression .