The Unreachable American Dream

A recent New York Times poll found "that only 64 percent of respondents said they still believed in the American dream, the lowest result in roughly two decades."

Other Fast Food Restaurants Paying Beyond the Minimum Wage

The Times has a story up about other fast food restaurant chains that pay above the minimum wage including:

Closeted in The Corner Office

For the Times, Claire Cain Miller writes about the depressing fact that there is not a single openly gay CEO at any of the nation’s 1,000 biggest companies.

The Suburbs Want More Young People

In the Times, Joseph Berger writes about how more young people are steering clear from the suburbs after they graduate from college and deciding to move and stay in urban cities instead. Suburban towns are trying to figure out how to get young people to come back to them:

Thomas R. Suozzi, in his unsuccessful campaign to reclaim his former position as Nassau County executive last year, held up Long Beach, Westbury and Rockville Centre as examples of municipalities that had succeeded in drawing young people with apartments, job-rich office buildings, restaurants and attractions, like Long Beach’s refurbished boardwalk. Unless downtowns become livelier, he said, the island’s “long-term sustainability” will be hurt because new businesses will not locate in places where they cannot attract young professionals.

The suburban towns face increasingly tough competition from the city. Jennifer Levi Ross grew up in Jericho on Long Island and moved into the Murray Hill neighborhood of Manhattan a few years after graduating from college. She liked living in the city so much — the easy commuting to work, the night life, the cornucopia of things to do — that when she married another Long Islander, Michael Ross, a Syosset boy, in 2012, they decided to stay put. They say they may eventually end up in the suburbs, but they are not in a hurry.

“It’s something in the distant future,” said Ms. Ross, a 32-year-old advertising copywriter. “We want to hold out as long as possible.”

There’s another theory for why young people are not moving to the suburbs: They’re not just ready yet. Previous generations married, had children and settled down earlier in their lives (my mother had me in her early twenties), and twenty-somethings today are still navigating relationships and their careers and are not ready yet (especially in financial terms) for a house in the suburbs.

Photo: Daniel Ramirez

Latina Working for the Grey Lady Tells All

Awesome excerpts are available in Salon from Daisy Hernandez’s upcoming book about working at the New York Times. Spoiler alert: she did not have a great time. The hardest part was trying to negotiate a White Male workspace. “Black boys consistently do badly in school,” her editor told her at one point, when she pitched a story about racism. “It’s like it’s genetic!” 

Still, for a long time, getting her dream job meant independence, career advancement, and the kind of financial security her parents desperately wanted for her.

At the Times, people spend their days writing and then get paid every two weeks. It happens even if you disagree with Mr. Flaco or if you write a bad piece that needs tons of editing. You still get paid. So, convinced that this life can’t be mine, I insist on taking my intern paycheck to the bank every two weeks and cashing it. Each time the black teller hands me the stack of hundred dollar bills, I feel that I am real and that this is really happening to me. It is a lesson I learned from my mother.

On Fridays, if she had been paid at the factory, Tía Chuchi would take my sister and me to meet my mother at the bank, where she would be waiting on line with a check, that precious slip of paper in her hand. She would take the money from the bank teller in one swift move, as if someone was going to steal it from her, and then she would move over to the side and count the bills, slipping them into a small envelope the way she would place a pillow in a pillowcase. Those dollars were freedom. We could afford an evening meal at McDonald’s and pasteles, too.

College Is Expensive and the NY Times is ON IT

Yes, even the Gray Lady has seen fit to write about how soaring student loan debt makes it hard to get housing in New York City.

It would be easy to dismiss the whole exercise, especially because it refers to “real estate maturity” as a state of existence to which human beings should aspire, and because it reports both the breed and name of a frustrated apartment-seeker’s dog. However, for a piece of non-news reported by the New York Times, the article paints a refreshingly varied portrait of post-collegiate financial distress. After first introducing us to Tierney Cooke, the dog owner who finds living with roommates intolerable (“I couldn’t take it. They were all in college.”), the Times also presents the tales of a mother of a two-year-old and a marvelously disillusioned chemist.

There is truly nothing surprising in the fact that housing in one of the most expensive cities in the country is hard to get in the midst of long-term economic trends that send personal debt up and wages down. But the chemist, Joseph Trout, a former foster kid from Philly who made good, is a font of excellent financial advice for an era of scarcity.

When Roommates Figure Out How to Split the Rent

Three bedrooms, three different sizes.

Out-of-Network Horror Stories

I want to share this article about surprise medical bills with you but it fills me with so much anxiety I don't even know where to begin.

What Would Make You Like Your Workplace More?

In the Times, an editorial by The Energy Project, which teamed up with the Harvard Business Review last fall to conduct a survey of more than 12,000 white-collar employees across a variety of different industries to understand people's engagement and productivity at work.

Alert: Terrible And Somehow Legal Private Student Loan Provision

Well this is very uncool, via the NYT: "Student Loans Can Suddenly Come Due When Co-Signers Die, a Report Finds."