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...generate as much trading volume (and commission costs) as actively managed mutual funds; when they do have portfolio turnover, it is often by swapping stocks instead of buying and selling them, which means they don't run up capital-gains taxes the way mutual funds often can. The result: lower overall costs for investors. The average annual fee for an ETF is 55 basis points (i.e., 0.55% of assets), significantly below the average 1.5%-of-assets charge from mutual funds, says Scott Burns, director of ETF research at Morningstar...
...American Community Survey, conducted annually by the U.S. Census Bureau, showed that the biggest gainers were married college-educated men. The biggest losers were unmarried men who did not complete high school or who only had a high school diploma. After adjusting for inflation, the 2007 cohort had lower household incomes than their 1970 counterparts. "The steeper decline in marriage among the less educated has contributed to a steeper decline in their income," says one of the study's authors, D'Vera Cohn. (See pictures of famously unmarried couples...
...side, says Dalton Conley, social sciences dean at New York University. "High-income women marrying high-income men is one of the drivers of inequality," he says. "It affects the distribution of income between families." He notes that among college-educated high-income couples, the divorce rate is getting lower, while unmarried low-income men and women tend to partner up and then uncouple more rapidly. "This leads to family instability and a cycle of disadvantage," says Conley. Single parents often have trouble moving ahead in their careers, while low-earning parents have little income to save or invest. They...
...aide, Takanori Okubo, who is now on trial for accounting irregularities and illegal donations from a large construction company that allegedly wanted to win contracts in areas where Ozawa has political influence. Ozawa bowed to cries for his resignation from within the party just months before August's Lower House elections. That move, however, did not satisfy the prosecutors, an influential group of Japanese officials with the power to investigate any criminal offense. Takao Toshikawa, editor of political newsletter Tokyo Insideline, says that Ozawa and his mentors have been fighting various battles with the office since the late 1970s...
...After initially seeming to come out in public support of Ozawa earlier this month, Hatoyama has since taken more of a wait-and-see stance. It's not helping his falling approval ratings, which, at 41.5%, are now lower than his disapproval rate of 44.1%, according to a recent Kyodo News poll. Last month, news broke that contributions from Hatoyama's mother were recorded as political funds coming from other donors - some of whom were dead. Hatoyama has promised to pay hundreds of millions of yen in tax on that sum, but the damage control has been slow. Still, according...