Gen Y Votes for Job Creation, Voting Problems Begin, 1% Think Bailout Will Help

Voting Problems Expected
Early voting has begun and so have the problems. Reports of touch screen voting machines changing votes are surfacing in West Virginia. Concerned citizens are reporting that the top three offices on the ballet kept jumping from democrat to republican—including the vote for President. People touch Obama and the machines check McCain.

We, a country that can hit an X drawn in the sand with a missile from the other side of the world cannot seem to figure out how to vote. Experts are already expecting problems and the majority of states do not have back-up voting plans.

After all the problems we have had with recent elections you would think that someone would have taken the time to make sure voting booths work properly. Or, maybe a booth that automatically changes your vote is someone’s definition of working properly?

Nearly 80% of Gen Y Voters Say Job Creation is Key Factor in Upcoming Election
Experience, Inc., the nation’s leading provider of career services for college students and young alumni, today announced results from its 2008 Jobs and Economic Survey. More than 12,900 Gen Y voters from all 50 states completed the online survey from Experience, 85% of whom indicated they plan to vote in the upcoming elections.

The survey, which polled undergraduate and graduate students as well as young professionals, found that 60% have seen a significant drop in entry-level jobs since the beginning of the year. Nearly 80% (77%) of them said entry-level job creation was a factor in how they will cast their vote. Midsize to large business stimulation and entrepreneurial activity were also cited as significant factors in Gen Y’s vote at 76% and 69%, respectively.

Survey participants cited the following as the most important issues for the next Presidential Administration:
 
• Economic stimulation (58%)
• Energy crisis (50%)
• Foreign policy (39%)
• Healthcare reform (39%)
• Education reform (37%)
• Unemployment (35%)
• Global warming/climate concerns (34%)
• Social issues (26%)

 “We were somewhat surprised to see that the pendulum for young voters has shifted away from social concerns, toward jobs and the economy,” explains Jenny Floren, founder and CEO of Experience. “In the past, college students have been sheltered from Wall Street, but in this case, we’re seeing that Gen Y’s concerns mirror those of society at large. This survey shows that job creation is of utmost importance for Gen Y, and they want the next administration to address this concern.”
 
Participants were given the option to tell Experience for whom they would cast their vote in November. Of the 10,959 who answered this option, 62% said they would vote for Obama/Biden; 21% said they would vote for McCain/Palin.

For more information check out experience.com.

Cuomo Vs AIG; Round Two
Last week we reported that Cuomo was asking AIG to stop payment on crazy salaries and bonuses. Cuomo must have made a good argument because AIG has agreed to freeze millions of dollars in compensation and bonuses. According to the Associated Press, “the insurance and finance giant has agreed to stop any payments under former chief executive Martin Sullivan's $19 million pay package.”

We think that AIG realizes that it is becoming as hated a company as Wal-mart. Many people may feel like this is too little, too late, but at this point, what else can they do?

And Cuomo isn’t stopping there; word on the street is that he’s now going after Lehman Brothers.

"It is not just compensation but incentives, perverse incentive for executives to produce short-term profit rather than long-term growth," Cuomo said.

Maybe Cuomo should dress up as Superman for Halloween… if the cape fits…

TrueCredit.com Finds Only 1% Think Bailout Will Be Effective
With the government’s $700 billion bailout package now approved for deployment, a survey of 2,012 Americans (commissioned by TrueCredit.com and conducted by Harris Interactive) indicates that:

• Only 1% of those polled believe the bailout initiative will be very effective
• 62% of respondents say they feel it will be at least somewhat effective for helping to improve the current economic climate

In the short term, the economic climate is likely to affect consumers’ spending habits:

• An overwhelming majority (68%) say they have spent or will soon spend less as a result of the current crisis
• Surprisingly, three in 10 consumers say their spending habits have not and will not change

Other findings:

• The majority of respondents (55%) say that economic conditions will most affect their discretionary spending
• Nearly half (47%) say the economy will impact their retirement savings
• Almost 30% say the economy will affect their interest rates, when they will be able to retire and their investment portfolio
• Only 24% of those polled feel their ability to be approved for a loan or mortgage will be impacted by the current economic climate
• Although credit is the foundation for loans, mortgages and other vital financial functions, which have been hit hard by the recent economic turbulence, fewer than two in 10 consumers (17%) believe their credit score will be affected by the current economic climate

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