The ‘sharing economy’ is the next big thing

The Avis acquisition of Zipcar suggests that the sharing economy has come of age.

Revolution made their first bet on the concept of sharing nearly 10 years ago with their investments in Exclusive Resorts (2003) and Flexcar (2005).   The “sharing economy” now extends across multiple verticals – we’re sharing cars, movies, extra rooms in our homes, online lectures, and even our time.  Yesterday Avis Budget Group announced that they will acquire Zipcar which marks a significant milestone for the concept of collaborative consumption.

 

 

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Cutting costs a new pasttime for retirees

Eliminating some unnecessary expenses and keeping an eye out for ways to save can help keep precious dollars at home.

The golden years of many retirees have been tarnished by low returns on investments and smaller nest eggs than they’d hoped. Meanwhile, longer life spans, increased expenses — particularly rising health care costs — plus a volatile stock market and low interest rates on savings have baby boomers facing tough choices.

 

 

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Foreign banks turn away U.S. millionaires

UBS

UBS, the world’s biggest non-U.S. private bank, said in 2008 it would discontinue offshore accounts for U.S. citizens.

Some of the world’s largest wealth-management firms are wanting American millionaires to go away ahead of Washington’s implementation of the Foreign Account Tax Compliance Act, known as Fatca, which seeks to prevent tax evasion by Americans with offshore accounts. HSBC, Deutsche Bank, Bank of Singapore and DBS Group all say they have turned away business.

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