Here is a great story. Back in 2003, I launched Young Research’s Retirement Compounders to form the basis of a new portfolio service for our clients at Richard C. Young & Co., LTD. The new stock portfolio service was based on my long-held view that dividends and compound interest could work to achieve consistent returns in all kinds of weather. We now have eight full years of returns in the books. Here is how things stand.
The Morningstar database lists data on 4,500 diversified stock funds with returns from 2004 forward. Only two funds in each of the last eight years have earned more than the S&P 500. (That’s two out of 4,500.) Young Research’s Retirement Compounders, although not a fund, has achieved the same record. When I kicked off the RCs in 2003, I never dared hope to achieve such success. But I am pleased with the results, as are clients of our management company, for whom the RCs were originally started.
The American economy is burdened today by historically high deficits and debt. The Fed, which I would abolish, continues a charade of artificially low interest rates, which allows Wall Street speculators to borrow at virtually nothing, while America’s hard working savers earn nothing in savings accounts. We need new leadership in Washington that will allow America’s small business owners to re-start the jobs creation engine. A national Right To Work law must to be passed. Until our ship of state is righted, the environment for stocks and bonds is going to remain bleak. In today’s environment, a portfolio of high-yielding blue-chip stocks offers investors an ideal shelter, and the Retirement Compounders have proven to be just the ticket. To learn more click here.
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Best States for Business: #6
Wyoming
Open for Business Index Score: 84.35
A state’s tax burden is one of the most important parts of the Open for Business Index. Wyoming scored best of all in that category, and the state scored very well in government as a percent of GDP, education and protections for employees with a Right to Work law. Average numbers in percentage of labor represented by unions, health, and tort law also made Wyoming desirable for business. The state’s businesses face headwinds in cost of living, costs of employees, and infrastructure.
Worst States for Business: #6
California
Open for Business Index Score: 62.25
It seems given that California will rank near the bottom of any competitiveness index, but the Golden State escaped our bottom five by posting respectable numbers in infrastructure. California’s scores in health, government as a percent of GDP, and education were decent. California ranked near the bottom in percent of employees represented by unions, cost of living, tax burden, cost of employees, and tort law. California does not protect its citizens from forced unionization with a Right to Work law.
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We have reached the halfway point in our countdown of the 10 Best and Worst States of Business. From here on out, the best states for business are the elite, the top 5 states in the country. And the worst states for business are the bottom-of-the-barrel, those in need of the most change. If you’re planning to open a business and can afford to choose your location, we urge you to consider one of our elite five states. If you are in business already, and you are located in one of our bottom five, perhaps it is time to take stock of what your state offers and to consider alternatives.
Best States for Business: #5
Virginia
Open for Business Index Score: 84.4
Virginia is the first member of our elite five states. The Old Dominion has achieved a strong position in a number of our grading categories. Virginia is ranked near the best in the size of government, percentage of the workforce represented by unions, infrastructure and tort law. Virginia also protects its citizens from forced unionization with a Right to Work law. Virginia scores around average in health, education, cost of living and tax burden. Virginia’s worst score came in the cost of employing labor.
Worst States for Business: #5
Vermont
Open for Business Index Score: 60.1
Back in 1989 Greg Guma wrote his book, The People’s Republic: Vermont and the Sanders Revolution. In 2012 our Open for Business Index illustrates just what happens when a state abandons business owners with a bottom five ranking for Vermont. But let’s start with the good. Vermont has the nation’s healthiest citizens—after that our index gets ugly. Vermont scores below average in all other categories, and near the bottom in cost of living, tax burden and infrastructure.
See #6 in each category by clicking here.
See #7 in each category by clicking here.
See #8 in each category by clicking here.
See #9 in each category by clicking here.
See #10 in each category by clicking here.
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 In a recent Washington Post op-ed, Governor Scott Walker lays out why Obamacare is a raw deal for Wisconsin and for the country.
Obamacare will devastate Wisconsin. An actuarial study commissioned by my predecessor, a Democrat, and completed last year found that if Obamacare is implemented in Wisconsin:
● 100,000 people will be dropped by their employer-sponsored health insurance;
●59 percent of people who buy their own health insurance will experience an average premium increase of 31 percent;
●150,000 people will stop buying health insurance in the private sector and will instead become dependent on the government and taxpayers;
●Between 2014 and 2019, Obamacare could cost Wisconsin taxpayers $1.12 billion; after all federal aid and tax credits are applied, the state’s portion of the bill will be $433 million; and
●Approximately 122,000 parents, caretakers and pregnant women with an income of more than 133 percent of the federal poverty level will no longer be eligible for Medicaid.
Walker takes no prisoners in his criticism of the law’s effects on his state.
In Wisconsin, the data show that Obamacare will increase the cost of health care for most residents. That is not a prescription for positive change. Other states will face similar situations. We can do better.
Overall our federal government should be working to replicate the successes of states like Wisconsin — particularly focusing on those with high rates of coverage. And from a practical standpoint, the federal government should give Medicaid block grants to states. This would allow states to maximize the efficient use of tax dollars and increase private-sector competition while still providing care for those in need.
Increasing access to health care won’t come through mandates, taxes or penalties. Truly improving access for families will require costs to go down. Unfortunately, Obamacare moves in the opposite direction by making insurance more expensive.
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Best States for Business: #4
South Dakota
Open for Business Index Score: 85.85
South Dakota is the second of the elite top five states on our Open for Business Index. Vaulting The Mount Rushmore State to number four on our list are its low tax burden, and tort law, low percentage of its workforce represented by unions, good education and the protection of employees from forced unionization with a Right to Work law. South Dakota posted average scores for health, cost of employing labor, cost of living, and size of government. One area that could use improvement in South Dakota is the state’s infrastructure.
Worst States for Business: #4
New York
Open for Business Index Score: 58.6
New York’s best categories were infrastructure and health, where it scored slightly better than average. The Empire State posted dismal scores for education and size of government, but even worse in the remaining categories. For tax burden, cost of living, cost of employing labor, and tort law New York scored near the bottom, and for percentage of employees represented by unions, New York scored at the very bottom.
See #5 in each category by clicking here.
See #6 in each category by clicking here.
See #7 in each category by clicking here.
See #8 in each category by clicking here.
See #9 in each category by clicking here.
See #10 in each category by clicking here.
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 Eurocopter’s revolutionary X3 helicopter arrives in Washington for final leg of aircraft’s U.S. tour-July 23, 2012
The tour began when the X3 made its debut at the Grand Prairie, Texas headquarters of Eurocopter’s U.S. subsidiary – American Eurocopter – which was attended by employees, elected officials, customers and industry partners. Several commercial customers from various market segments flew the X3 when it demonstrated its unique flight characteristics, which include a cruise speed of 200 knots, high rates of climb and executing high-speed maneuvers that are not routine for conventional rotary-wing aircraft. The X3 has already demonstrated a maximum speed of 232 knots at 80 percent power and a rate of climb of 5,500 feet per minute.
“We are extremely pleased to bring the X3 here to the Washington, D.C. area for the final leg of its highly successful U.S. tour,” said American Eurocopter President and CEO Marc Paganini. “I am confident that the aerospace community and military leaders here will be as impressed as all of the customers who have already experienced this cutting-edge technology.”
Several guest pilots flew aboard the X3 during its previous two stops at Huntsville’s Redstone Army Arsenal Airfield on July 9 and 10, and Fort Bragg’s Simmons Army Airfield on July 16 and 17. The X3 is scheduled to continue military flight demonstrations at Fort Belvoir’s Davison Army Airfield July 24 and 25, where guest pilots will experience the aircraft’s maturity and excellent handling characteristics firsthand. The X3 will then conclude its U.S. tour on July 26 at the Pentagon.
Eurocopter’s aircraft configuration for the X3 uses a pair of turboshaft engines to power a five-blade main rotor system, along with two propellers installed on short-span fixed wings. This concept is well adapted to missions requiring long transit flights and where speed is important, while retaining vertical lift and hover capabilities – all at a very affordable cost.
The company envisions a wide range of applications for its hybrid technology in future products, including long-distance search and rescue (SAR), Coast Guard missions, border patrol missions, passenger transport and off-shore airlift, along with inter-city shuttle services. It also is well-suited for military missions in special forces operations, troop transport, combat SAR and medical evacuation – benefitting from the combination of higher cruise speeds with excellent vertical takeoff and landing performance.
Eurocopter began X3 flight testing in September 2010 at the Istres Flight Test Center in southern France. Beyond confirming its excellent flight qualities, maneuverability, outstanding acceleration and deceleration capabilities, the hybrid demonstrator has shown exceptional climb and descent rates along with very low vibration levels – all without any need for passive or active anti-vibration systems.
Follow the X3 U.S. tour with daily news and updates on the company’s special events website: http://events.eurocopter.com and on: http://press.eurocopter.com
Source: Eurocopter
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Best States for Business: #3
Texas
Open for Business Index Score: 87.05
Texas is the third state on our Open for Business Index. The top three states scored within 0.4 points of one another, so close they are approximately tied. Rocketing the Lone Star State to the top ranks on our index was the state’s best-in-the-nation score in infrastructure, and near top scores for its tax burden, percent of union representation, and cost of living. Better than average scores for tort law and cost of employing labor also served to boost Texas. The state scored near average for government as a percent of the state’s economy. The state needs improvement in health and education, where it scored near the bottom.
Worst States for Business: #3
Connecticut
Open for Business Index Score: 58.6
Connecticut was tied with #4 New York as one of the worst states in the nation for business. Perhaps Connecticut’s lousy business climate is the reason billionaire hedge fund manager Eddie Lampert moved his firm, ESL Investments Inc. to Florida earlier this year from Greenwich (Ed Note: Florida is ranked 10th on our Open for Business Index). Connecticut scored terribly in almost every category, coming in near the bottom in taxes, percent of employees represented by unions, cost of living, cost of employing labor, size of government, infrastructure and tort law. The Nutmeg state also came in below average in education. The one standout for Connecticut was a near top rank for health among its citizens.
See #4 in each category by clicking here.
See #5 in each category by clicking here.
See #6 in each category by clicking here.
See #7 in each category by clicking here.
See #8 in each category by clicking here.
See #9 in each category by clicking here.
See #10 in each category by clicking here.
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Best States for Business: #2
Utah
Open for Business Index Score: 87.1
Utah scored near the top for health and cost of employing labor, while scoring among the leaders in tax burden, percent of employees represented by unions, cost of living, tort law, size of government, and education. Utah’s worst component was infrastructure, where it came in slightly lower than average. The Beehive State is a model for what is right for attracting business. Gov. Gary Herbert recently said “Utah’s economy is growing twice as fast as the national economy, proving yet again that when government gets out of the way and simply facilitates economic growth, the private sector thrives.”
Worst States for Business: #2
New Jersey
Open for Business Index Score: 58.2
For all the improvement made in New Jersey during Gov. Chris Christie’s tenure, the state still has a long way to go to improve on our Open for Business Index. New Jersey scored dead last in not one, but two categories, tax burden and tort law. The Garden State came in near the bottom in cost of living, cost of employing labor, size of government, and percent of labor represented by unions. New Jersey came in well below average in education. Better categories for the state were infrastructure and health where it came in slightly above average.
See #3 in each category by clicking here.
See #4 in each category by clicking here.
See #5 in each category by clicking here.
See #6 in each category by clicking here.
See #7 in each category by clicking here.
See #8 in each category by clicking here.
See #9 in each category by clicking here.
See #10 in each category by clicking here.
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A disappointing increase in GDP of 1.5% is well below the historical trend rate in the United States. Worse yet, the underlying trend in GDP as indicated by final sales is even weaker at 1.2%. This is bad news for the American job market, because even growth of 2% would only create 90,000 jobs per month, not enough to even keep the unemployment rate steady. For that the country needs to produce 125,000 jobs or see the workforce participation rate continue to decline. A change at the top is long overdue in Washington. U.S. economic performance is truly miserable. And the economic debacle has hit the United States despite record setting money printing at the Federal Reserve.
Read the entire GDP report from the BEA by clicking here.
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A recent letter from Senator Rand Paul announces that Congressman Ron Paul’s Audit the Fed bill has sailed through the House of Representatives and now must be taken up by the Senate in order to head to the President’s desk.
I’m excited to report that Audit the Fed (H.R. 459) passed the House in a 327-98 vote landslide yesterday!
The demand for accountability and transparency was so massive that nearly half the Democrats in congress voted to lift the curtain on Ben Bernanke’s secret manipulations of our economy.
This tremendous victory for sound money, limited government, and free markets was possible because you turned up the heat on congress with phone calls and emails.
But now the fight shifts to the Senate where I have sponsored a companion Audit the Fed bill (S. 202) and I expect to have to fight tooth and nail to get a vote.
You see, Harry Reid is determined to protect vulnerable Democrats who desire to continue the bailouts and endless spending by denying a vote.
Can you imagine, at the height of the most important election of our lifetime, any senator in a competitive race trying to explain to their constituents why they looked the other way as the Fed bailed out the politically well-connected and devalued our currency with trillions of dollars in debt?
Either vulnerable Democrats vote to pierce the veil of secrecy surrounding the Fed or RANDPAC will make sure their constituents realize their senator voted to keep the Fed’s printing presses running unchecked.
But this will only be possible if we can generate a tidal wave of grassroots support.
Rand
Contact your senator and Senate Majority Leader Harry Reid to tell them you want a vote on Audit the Fed, and tell them you expect them to vote to pass the bill to protect America’s middle class from inflationary theft.
Click here to find your senator’s contact information.
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