WTF

GOVERNMENT SHUTDOWN WEARS ON WORKERS, SLOWS ECONOMIC GROWTH

  • GET A LOAN: Commerce secretary Wilbur Ross said Thursday that he didn't understand why federal workers, who are about to miss their second paycheck due to the government shutdown, are turning to food banks, NPR reports. According to Ross, these folks should get bridge loans instead. 

  • RAISE RULES: Women are far more likely to ask other women for raises than they are to ask men for those raises, new research shows, according to Aeon

  • WAGE GAP: And in more dismal wage gap news, the most common ways companies identify a gap between what they pay men and women could be faulty, according to the Harvard Business Review

  • ILLUSTRIOUS ERROR: American Illustration, a yearly collection of art, attempted to highlight the gender divide between men and women's works in this year's collection. However, the group's choice to make women's images 17 percent smaller than those created by men is not sitting well with the art community. Check out these Twitter threads to learn more.

  • GROWTH SLOWS: The U.S. economy is growing at a slower rate thanks to the government shutdown, CNBC reports.

  • FRIDAY INSPO: Paying off your credit card is a form of self-care, per some Twitterinspo

GOVERNMENT SHUTDOWN DRAGS ON, MAKING THINGS DIRE FOR WORKERS

  • SHUTDOWN CONTINUES: And things are getting dire for federal workers who are working without pay. While corporations are attempting to lighten the load for these workers, the fact remains that they have gone two pay periods without receiving money, Vox reports. 

  • ECHOING EFFECTS: The shutdown also affects domestic violence shelters, which are cutting services because they aren't receiving the federal funding they need to stay open, the Huffington Post reports.

  • REMEMBERING BOGLE: Jack Bogle, the creator of Vanguard and the man who made it much easier for individuals to invest in the stock market, has died,Institutional Investor reports.  

  • MORGAN STANLEY SUIT: A Morgan Stanley banker who was fired after her maternity leave has written to the company's CEO asking to get out of her arbitration so she can sue the company, Bloomberg reports. 

  • BE BETTER: Companies often say they are committed to diversity, but they often aren't all that supportive of their black workers. The Harvard Business Review has some ideas on how companies can do better by their workers of color. 

Tax Bill Passes Congress, Ellevest Cuts Fees

  • TAX BILL: The tax bill has passed Congress. Now that it's done, NPR breaks down what is next when it comes to implementing the law.
  • CRYPTO MADNESS: Long Island Iced Tea Corp. changed its name to Long Blockchain Corp. this week and saw its stock price rise more than 300%,Bloomberg is reporting. Sound familiar? It reminds us of the tech bubble that caused a stock market crash in 2001. 
  • #SHINETHEORY: We're so excited to see that Refinery29's Money Diaries column is becoming a book!
  • FEES CUT: Robo-advisor Ellevest cut investment fees for investors with less than $50,000 in their accounts from 0.5% to 0.25%. The female-owned firm is now offering private wealth management, in addition to its robo-investing products, at a premium. 
  • WAGE GAP: E! Network host Catt Sadler has quit, according to the AP, citing that Jason Kennedy, her co-host, makes nearly double her salary.
  • ANOTHER FEMALE VC FUND: Host of The Valley Girl Show, Jesse Draper, has closed a $10 million venture capital fund focused on female founders, according to the Wall Street Journal.
  • PRACTICAL ADVICE: Lola published a guide this week on how to ask for a lactation room at work. New mothers rejoice!
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Comey Fired, Stock Market Unchanged

  • COMEY'S OUT: The biggest news this week was that Donald Trump fired FBI Director James Comey, who was investigating Trump's team for its involvement in the Russia election hacks. The surprise did not move markets as expected, CNBC reports. 
  • #MERGERMONDAY: On Monday, several companies announced deals. Sinclair Broadcast Group is paying $3.9 billion for Tribune Media Co. and Coach will pay $2.4 billion for Kate Spade. Kate Spade the human reportedly won't receive any money from the deal.
  • MACY'S & SNAPCHAT FLOUNDER: We're still deep in earnings season. Of note, Macy's reported unfortunate earnings per share of 24 cents for the first quarter (they were expected to report 35 cents per share). Snapchat, in its first quarter as a publicly traded company, lost $2.2 billion. 
  • GETTING THEIR FIX: StitchFix, meanwhile, has found a way to succeed in the retail industry. The company reported $730 million in revenue for the year despite being a startup. 
  • WHOLE NEW BOARD: Whole Foods Market (WFM) will remove more than half of its sitting board. Maybe that makes more room for diversity? Just three women sit on its 12 person board today.
  • UNCONVENTIONAL SHOPPING: Racked had an incredible piece up this week on Iranian women's shopping habits. Instagram has become a hub for women's startups in the Middle Eastern nation.
  • NEGOTIATION HELP: We loved Refinery29's salary negotiation tool, which was published this week. Check it out here

- Alicia McElhaney / She Spends Issue #2

A rough week for Snapchat. 

A rough week for Snapchat. 

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GOP says being a woman is a pre-existing condition, celebrates with beer

  • AHCA: On Thursday the American Health Care Act (AHCA) - the healthcare bill Republicans have been touting as a repeal and replacement of the Affordable Care Act - passed the House of Representatives. It now goes to the Senate for a June vote. Under the bill, c-sections, domestic violence, sexual assault and post-partum depression are considered pre-existing conditions. Perhaps writing "identifying as a woman" is a pre-existing condition seemed too obvious.
  • ACA: Of interest to our community - personal bankruptcy has decreased thanks to the Affordable Care Act.
  • URBAN OUTFITTERS: CtW Investment Group has called out Urban Outfitters' board for its lack of women. The apparel retailer has just two women on its board of directors. Yikes. 
  • GIRLS WHO CODE: Private equity firm KKR has invested in Girls Who Code, alongside GoDaddy and First Data. Each company is sponsoring a summer program for 40 girls. 
  • MERGE REQUEST REJECTED: A longtime engineer at Facebook found that code written by women was rejected much more frequently than code written by men. WTF? 
  • JOB LOVE: Are women allowed to love their jobs? Jill Fillipovic asks. 
  • SOME BS: The Ninth Circuit Court has ruled that employers can pay women less than men for doing the same job...as long as they made less at their previous workplace. Circular logic, no?

- Alicia McElhaney / She Spends Issue #1

Michelle <3

Michelle <3