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GCs in Tech, Entertainment Industries Bagged Biggest Bucks in 2025
General counsel compensation rocketed to record-shattering levels in 2025, fueled by a hypergolic mix of volatile long-term stock awards and the expanding value of legal chiefs as crucial members of the C-suite.
CT business owner charged with failing to have workers’ compensation insurance when employee injured
Officials allege they found that he lacked the proper workers’ compensation insurance coverage when one of his workers was hurt.
Novant Health drives $4.33B in regional economic impact, study says
Novant Health Coastal Region generates an annual overall economic impact of $4.33 billion in the Wilmington Metropolitan Statistical Area (MSA), according to a new report. Commissioned by Novant Health and conducted by Mouhcine Guettabi, associate professor of economics at the University of North Carolina Wilmington and the area’s regional economist, the report evaluates population growth in New Hanover, Brunswick and Pender counties and whether the area’s healthcare infrastructure is positioned to meet the region’s demand. According to the study, while healthcare employment has kept pace with population growth in New Hanover and Pender counties, it has not kept up with the rapid population growth in Brunswick County, which is skewed toward an older population. “It points very clearly to Brunswick County being the bottleneck, or being the place where investment is most needed,” Guettabi said to the Business Journal Friday, “because the growth is the fastest, the composition of the growth is older (adults) and demand for healthcare is much higher for the subpopulation.” The Novant Health Coastal Region employs 8,295 full-time equivalent workers, according to the report, and is the region’s largest employer. Overall, through direct, indirect and induced impacts, the Novant Health Coastal Region supports 19,573 jobs, the report said. Using data collected from internal payroll, financial and capital reports, the report estimates that Novant Health Coastal Region pays approximately $1.15 billion in total compensation to its employees. According to the study, the provider’s annual operating expenditures, or direct economic impact, total $2.36 billion. That direct impact ripples through the regional economy through spending at its suppliers, or indirect impact, and household spending by staff and its suppliers’ workers, or induced impact. The report estimates the Novant Health Coastal Region’s indirect economic impact is $786 million, reflecting the multiplying effect of the provider’s operating expenses on expenditures like medical supplies, facilities, food, IT and professional services. Because 86.9% of Novant Health Coastal Region employees live within the tri-county region, the report estimates that wages paid by Novant circulate into the regional economy, creating an induced economic impact of $1.17 billion. “That money just doesn’t go into thin air,” Guettabi said of the wages paid to Novant Health Coastal Region employees. “Some of that money is being re-spent, and therefore it’s supporting grocery stores, hiring, restaurants and bars, and there are a lot of other companies or organizations whose employment, whose activity partially depends on that.” The combination of direct ($2.36 billion), indirect ($786 million), and induced ($1.17 billion) impacts totals an estimated $4.33 billion, according to the report. A study commissioned by Novant Health in 2024 and conducted by FTI Consulting’s Center for Healthcare Economics and Policy found that Novant Health generated nearly $2 billion of direct impact, with $628 million in indirect impact and $857 million in induced impact. Healthcare investments in the pipeline for Brunswick County Additionally, the study found that while healthcare employment has kept pace with population growth in New Hanover and Pender counties, it lags in Brunswick County. “Once you go below the metro level and you decompose the three counties that make up the Wilmington Metro,” Guettabi said, “it becomes fairly clear that Brunswick is the standout. And not only that, but clearly the growth there is fully domestic migration and largely retiree-driven migrants.” Using data from the Centers for Medicare and Medicaid Services on per-capita healthcare spending among age groups, Guettabi estimates that adults aged 65 and older demand 2.44 times the healthcare of working-age adults. “The share of the population in Brunswick County that’s over the age of 65 is 33%,” Guettabi said, “which is so much higher than the average share of people over the age of 65 within the state or within the country.” The report emphasizes that Brunswick County is the “strongest candidate” for new healthcare investment, adding that patient discharge records show Brunswick residents rely heavily on facilities in New Hanover County for inpatient care. “Investments in Brunswick County would not only meet the demand for those residents, but it would also relieve pressure for New Hanover County residents,” Guettabi said. Laurie Whalin, president of the Novant Health Coastal Region, told the Business Journal Friday that the provider plans to expand services at Novant Health Brunswick Medical Center, in addition to other investments in the area. In April, the state granted conditional approval to both Novant Health and Columbus Regional Healthcare System to build new hospitals, just miles apart, on either side of the Columbus County and Brunswick County borders. Columbus Regional’s $214 million 30-bed hospital would be located at the former Acme-Delco Middle School in Delco, according to the application. The project’s approved timetable has construction slated to finish in May 2029, with the hospital open for service by October 2029. The Whiteville-based provider, which Atrium Health manages, broke ground on an Advanced Care facility in December 2025 and operates four specialty clinics in Leland. Meanwhile, Novant Health’s proposed $251 million 20-bed hospital would be built just miles from Columbus Regional’s proposed hospital, near the Compass Pointe community in Leland. The provider estimates the hospital will open by 2030. State officials also approved Novant Health in March to build a freestanding emergency department in Carolina Shores, near U.S. 17. The project is estimated to cost $24 million, according to the application, and will operate under the Novant Health Brunswick Medical Center license. Additionally, Novant Health’s 16,000-square-foot ambulatory surgery center is slated to open in Leland by year’s end, officials said.
Chinese company demands compensation from U.K. over British Steel nationalization
Jingye Group, the former owner of British Steel, has demanded compensation from the U.K. government for investment losses after the company's nationalization last week.
Mesirow Fiduciary Solutions Acquires flexPATH’s 3(38) Business
The transaction will deepen the company’s custom portfolio and investment lineup service capabilities.
Broker Wars Are Heating Up as Financial Advisors Think More Like Business Owners
Large national brokerages are offering top financial advisors compensation packages that seem more like acquisitions than hiring incentives.
New bill would compensate returned political hostages like Paul Whelan
A bill by Rep. Haley Stevens would provide compensation to wrongful detainees such as Michigan's Paul Whelan, who was held by Russia for over five years
Lobbying compensation: Top 10 firms report solid revenue growth in Q1 of 2026; Southern Group takes top spot, followed by Ballard Partners
The Southern Group continued its streak as No. 1 with a $12.4M quarter, followed by Ballard Partners at $10M.
3 Connecticut business owners arrested for alleged workers’ comp violations
ROCKY HILL, Conn. (WTNH) — Three Connecticut business owners were arrested on Thursday related to alleged workers’ compensation law violations, according to the Office of the Chief State̵…
Hood: Pay for performance, not for politics
RALEIGH — The North Carolina General Assembly approved substantial pay increases for public schoolteachers earlier this year. If a bipartisan commission has its way, teacher compensation will soar over the next few years, as well. Fiscal conservatives should welcome these developments — so long as schools use higher pay as a means of attracting and retaining highly effective teachers, not of scoring political points or placating interest groups.
How Elon Musk is redefining executive compensation
CEO pay packages have reached extraordinary levels, and Elon Musk stands far above everyone else with a compensation package valued at roughly $132 billion, The New York Times reports. Musk’s compensation is almost entirely stock-based rather than salary or cash bonuses, receiving shares only if Tesla achieves a series of ambitious long-term performance targets tied […]
10 standout findings in Doximity’s latest physician compensation report
Unsurprising but noteworthy: Judging by the ages of doctors who are all in with AI in 2026—and the ages of those who aren’t—the technology remains more a thing of the future than of the present.
Water shortage compensation doubles for businesses
Tunbridge Wells MP Mike Martin called the raising of the figure to £1.2m a "significant victory".
After Causing Delays for 9/11 Health Claims, Social Security Pledges to Do Its Job
Lawyers say the Social Security Administration has for months not provided basic data to complete compensation claims for those sick and dying after exposure to debris from the Sept. 11 attacks.
Bridgeport business owner charged with failure to provide workers’ compensation
ROCKY HILL, Conn. (WTNH) — A Bridgeport business owner has been charged with failing to provide required workers’ compensation insurance for his employees, the Office of the Chief State’s Attorney …
After the I.P.O., a Billion-Dollar Bill for Employee Paydays
A compensation strategy at start-ups keeps expenses low until they go public. At that point, the companies may face billions of dollars in catch-up expenses.
Pre-election agenda may prove too ambitious for Congress
WASHINGTON — With college football season in full swing, lawmakers in Congress could take up student athlete compensation issues facing intercollegiate athletics. They could follow last week’s 25th anniversary of
Female college athletes see surge in NIL deals
College sports marketing company Learfield saw a 123% increase in female athlete participation in NIL compensation activities over the 2025-26 fiscal year.
Why medical group leaders are seeing big leaps in pay
Consultants say compensation is increasing quickly for roles tied to clinical integration, physician alignment and growth.
Lionel Messi is building a business empire that will outlast his football career
From his Inter Miami compensation package to hotel investments, venture capital and football club ownership, Messi is turning his sporting success into a diversified portfolio.
Singapore PM salary set to rise to $2.85M under political pay overhaul
Singapore updated its executive compensation benchmarks, setting its prime minister pay target at $2.85 million while capping initial actual raises at 9%.
Meriden Business Owner Arrested After Worksite Visit, Officials Say
The business owner was arrested following an investigation by the CT Department of Labor and the Workers' Compensation Fraud Control Unit.
Take part in Palmer Group’s 2027 salary survey
Palmer Group is seeking input from Iowa business leaders for its 2027 Annual Salary Guide, which will examine hiring plans, compensation trends and workforce priorities for the coming year. The four-question, multiple-choice survey takes less than 5 minutes to complete and will be available to complete through Oct. 2. Responses will be kept confidential and…
California lawmakers kill wildfire bill after utility complaints
Legislation that would have helped wildfire victims receive compensation more quickly, but that utilities said didn’t do enough to reduce their financial risks, died in Sacramento after the Assembly declined to vote on it.
Health: The Fight For The Health Of 9/11 First Responders
A quarter century after 9/11, the health of those who responded to the attacks continues to be affected.Some 3,000 people died across three locations that day. An estimated 400,000 people were exposed to toxic contaminants and risked physical injury in the hours and days that followed. That’s according to data from the Centers for Disease Control and Prevention.Since the dust and debris have settled, more than 96,000 have been diagnosed with physical and mental health conditions related to 9/11.In 2010, President Barack Obama signed the James Zadroga 9/11 Health and Compensation Act, establishing the World Trade Center Health Program and reopening the 9/11 Victims Compensation Fund. Today, more than 150,000 people are enrolled in the program.But that program wouldn’t exist without the advocacy of survivors and first responders who put their bodies and lives on the line following the attacks. How did that fight for care unfold?For more information about the Rutgers WTC Health Program, click here. And to learn more about applying, click here.Find more of our programs online. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.
Markel announces collaboration with Midwest General Insurance Agency to expand small business workers compensation offering in California
/PRNewswire/ -- Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), announced today a strategic collaboration with Midwest General Insurance...
What a Business Owner’s Policy Covers and Leaves Out
Northern Nevada Insurance Agency, an independent agency in Reno, quotes business owner’s policies across multiple carriers for restaurants, retail stores, rental property owners, contractors and professional offices. The bundle covers commercial property, general liability and business interruption, while workers’ compensation, commercial auto and professional liability are separate policies the agency reviews alongside it. Reno, NV, Sept. 11, 2026 (GLOBE NEWSWIRE) -- A business owner's policy i
Spokane care providers work to protect services
Despite recent staffing and service reductions across Spokane's healthcare sector, some providers here expect to maintain their workforces and offerings, even as they face rising expenses, growing patient demand, and difficulties with Medicaid compensation.
Paris court awards Kim Kardashian 1 euro after her 2016 robbery
A Paris court has awarded Kim Kardashian 1 euro in compensation for an armed robbery she experienced in 2016. That was what she had asked for.
New Hampshire’s best business lawyers
Published annually, “The Best Lawyers in America®” is an exhaustive search for the country’s top attorneys. Here is a compilation of the top attorneys who practice in New Hampshire in dozens of legal specialties related to the needs of businesses, from administrative law to workers’ compensation. The complete list of New Hampshire lawyers in all specialties can be found in...
There’s a major flaw in the Protect College Sports Act, athlete advocates say
The bill is the latest attempt at federal regulation of college sports and aims to create a single standard on athlete eligibility, transfers, agent fees, compensation and other issues.
Danny White earns big bonus for Tennessee bowl, NCAA tournament toward $3.3M pay
Tennessee athletics director Danny White earned $577,500 in annual bonuses to push his total compensation past $3 million as one of the highest paid ADs in the country.
The Lateral Is Coming. Is the Business? How Law Firms Can Turn Lateral Hiring into Revenue
A lateral hire represents one of the largest growth investments many law firms make. Yet firms sometimes spend more energy negotiating the lateral’s compensation package than planning how the lawyer will succeed once inside the building.
Trump administration says it will comply with court order to pause $1.8 billion compensation fund
The Trump administration says it will comply with a court ruling temporarily blocking a nearly $1.8 billion fund meant to compensate allies of President Donald Trump
CEO compensation grows 6% as worker pay gap widens
The typical CEO compensation package rose nearly 6% in 2025 to $17.7 million.
Mom-and-Pop Business Owners Grapple with Harsh Times
Report shows small business owners in NYS less optimistic about the economy. Taxes, inflation, labor costs and competition from larger businesses are major concerns right now, they say By Aaron Gifford [caption id=attachment_11067 align=alignright width=300] Ashley Ranslow is director for New York state at The National Federation of Independent Business (NFIB).[/caption] Owners of mom-and-pop businesses in New York state have been less optimistic lately than their peers in other parts of the country, a recent report indicates. The National Federation of Independent Business (NFIB), based on a survey of 11,000 of its members in the Empire State, reported that taxes, inflation, labor costs and competition from larger businesses are major concerns right now. “Indeed, while taxes are a major problem in New York and the United States overall, New York small businesses notably are struggling more with the state’s onerous, multi-level tax burden,” Ashley Ranslow, NFIB’s director for New York state, said in the July report. Compared with surveys of business owners in other states, far fewer New York respondents rated their businesses as in excellent or good health. The report also said labor costs here are about 25% higher than the national average and are the “single most important problem” facing businesses. One respondent to the New York-specific survey complained that too much red tape, taxes and laws that restrict high-yielding companies have stifled their operation’s growth. Others said high disability and workers’ compensation insurance costs, alarming increases in utility rates and excessive building regulations are discouraging. Statewide, New York has a gross domestic product of $2.53 trillion (third in the nation, followed by Texas, $2.90 trillion; and California, $4.25 trillion), a per capita income of $90,500 (sixth) and an unemployment rate of 4.6% (34th). There are 2.4 million small businesses that employ 3.9 million people. [caption id=attachment_11112 align=alignright width=451] Member of the Greater Liverpool Chamber of Commerce gather at one of the several functions the chamber organizes monthly. “Everyone in this business community encourages each other to shop local. Everyone just wants to see each other succeed,” says Megan Wilmot, the chamber director[/caption] “New York state boasts one of the largest, wealthiest and most diverse cities in the world — and that’s still only about half the state’s population,” the report said. “In other words, the state is both its iconic city and so much more — geographically, demographically, economically. But New York is not without its challenges, challenges that include notably high taxes and other weaknesses that impact the small business environment,” it said. The report includes an optimism index that compares responses from New York (NFIB) members with those of their peers in other states across several categories. This ranges from plans to increase employment to expectations for higher sales, to plans to increase inventory or expand. The scores for Empire State business owners were lower in most categories, but they did score higher than the national average in noting that they have current employment openings, and that they are hopeful that the economy will improve. “The metrics so far paint a picture of a state with a series of challenges for small businesses, from a slightly below national average Optimism Index to a more seriously below national business health to very substantially below national Employment Index. What is going on with businesses that are creating these differences?” the report stated. In Central New York, the regional labor force comprises nearly 398,000 workers. The median household income here is $71,463, and the gross domestic product for the region last year totaled $61.3 billion, according to the CenterState CEO economic development and research organization. About half of the region’s labor force works for small and mid-sized businesses, although the number of people employed in that sector has decreased by 7% since 2010, according to CenterState’s 2026 economic forecast report. “While record-high employment in large-scale enterprises provides a strong foundation for Central New York,” the report says, “the long-term health of communities depends on a thriving small business sector to serve as a stabilizer.” Area employers identify several barriers to Central New York’s anticipated growth, including lack of specialized or skilled workers, government regulations, unaffordable housing options and long-term construction disruptions. In the city of Syracuse, the number of jobs in retail trade decreased by 1,500 or 4.7% between July 2025 and this past July. By contrast, the number of jobs in the leisure and hospitality sector increased by 2.5% or 700 jobs, in the same annual period, according to the New York State Department of Labor. Still, there’s plenty of interest for new businesses across Central New York. U.S. Census figures show that the number of applications for new businesses in all four counties increased significantly in the past 20 years. In Cayuga County, there were 324 applications in 2005 compared to 470 last year. In Madison County, the number increased from 385 to 480; Onondaga County, from 2411 to 4132; and Oswego County, from 553 to 836. Downtown Cazenovia is exemplary of Madison County’s trend: In the past year, the village welcomed a bait shop, a thrift store, a vitamin infusion center, a pizzeria, a Pilates studio and an Italian restaurant. A candy store is scheduled to open on the main drag in the months ahead. Oswego’s list of interesting new businesses in the past year includes a bubble tea shop, a hot dog eatery in Fulton, a specialty grocery store that features New York state products in Mexico, a beauty and esthetics studio in Hannibal and a hardware and farm supply store in Sandy Creek. In Onondaga County, the Liverpool area has also enjoyed a steady stream of new shops and eateries in recent years. That suburban community is unique in that, unlike neighboring communities, most of the restaurants are family-owned and not part of a national chain. [caption id=attachment_11116 align=alignright width=300] Megan Wilmot is the executive director of the Greater Liverpool’s Chamber of Commerce.[/caption] Megan Wilmot, executive director of the Greater Liverpool Chamber of Commerce, said independent business owners in her community maintain a strong sense of pride in holding their own against national companies. The chamber helps boost morale with red carpet events, ribbon cuttings, coffee hours and five-year anniversary celebrations for participating businesses. “We have built such a strong community,” Wilmot said. “Everyone in this business community encourages each other to shop local. Everyone just wants to see each other succeed.” In Syracuse, the downtown retail occupancy rate last year was about 82%, a slight improvement from 2024, according to the Downtown Syracuse Committee’s most recent annual report. Buildings with the largest amount of vacant space included The Galleries, One Park Place, and Equitable Towers, though not all of those spaces are designated for retail use. New businesses that opened in downtown Syracuse last year: Better with Time Clothing, Dakshin Curry & Biriyani, Havana Tattoo Society, Milano Bean Café, Miss Daisy, Pausa Coffee, Sweets for Babe, The Society CNY and Yafah Beauty Studio. The Destiny USA mall’s occupancy rate decreased from 80% in 2023 to 72% by the end of 2024, according to Integra Realty Resources. That leaves more than a quarter of the mall’s retail space vacant. “Looking ahead, the retail market is expected to see minimal rent growth, with vacancy rates likely remaining stable in community and neighborhood centers but continuing to rise in enclosed malls,” Integra’s report said. “New construction activity is low and redevelopment plans for former malls like Shoppingtown and Great Northern are still in the planning stages. The proposed Micron chip plant may spur development, but challenges remain in finding co-developers for large-scale projects.” Nationally, the U.S. Chamber of Commerce expects that small businesses will remain resilient and see their sales and revenues eventually improve. That organization, in a recent national survey, found that 25% of small business owners expect the economy to improve in 2027, while 45% indicated that they plan to increase employment in the next 12 months. And 69% said they believe their small business is in good shape and 70% said they are comfortable with their current cash flow. Thirty-one percent of small businesses reported raising their prices in July and 28% are planning to raise their prices within the next three to four months, the report said. Twelve percent indicated that this is a good time to expand their business. “Small business owners voice optimism for future revenues and hiring,” the report said. “High costs continue to be a wet blanket on reinvestment.” The NFIB reported in July that Main Street, despite gas price hikes, “is OK … for now.” Its small business economics trend report said sales across the country have been strong compared to last year, but continued inflation and higher prices from mom-and-pop establishments are causing some “cracks” to show. “If costs stay this high for much longer, reduced investment will have a tangible economic impact,” the report said. “The status quo is OK, but the outlook? The outlook is uncertain.”
Health workers at the epicenter of Congo's Ebola outbreak labor with little pay or rest
MONGBWALU, Congo (AP) — Dr. Richard Lokudu, the medical director of Mongbwalu General Referral Hospital, has received barely any compensation for his work on the front line of one of Congo's deadliest Ebola virus outbreaks.
Newcastle United appoint Matthias Jaissle as head coach following Eddie Howe's departure from St James' Park
Matthias Jaissle appointed new boss of Newcastle; German succeeds Eddie Howe after his resignation; Jaissle signs four-year deal at St James Park; Newcastle paid £9.5m compensation to Saudi side Al Ahli to appoint Jaissle, whose first match in charge of the Magpies is next Saturday
Mental health claim frequency rises 47% in comp: WCRI
Mental health claims’ share of paid workers compensation claims rose 47% from 2015 to 2024, with the rate more than doubling in health care, according to a Workers Compensation Research Institute…
Trump Says He Never Promised No New Wars, Defends Compensation Fund
In a lengthy interview with NBC’s “Meet the Press,” the president again vowed that gas prices would go down when the war in Iran ends.
Clinicians are making more money despite stagnant reimbursement. Guess how?
Compensation for healthcare providers rose some 4.3% in 2025. The sobering news is that the gain owes more to heavier daily workloads than to bigger per-patient billings.
The Latest: Trump keeps immunity from tax probes while scrapping $1.8 billion compensation fund
Acting Attorney General Todd Blanche said the Trump administration has definitively scrapped a $1.8 billion fund to compensate President Donald Trump’s allies, but the White House is sticking with the part of the deal that permanently drops tax claims against him
Senate advances bipartisan bill to overhaul college sports
The Senate advanced a bipartisan bill to set national standards for college athlete compensation and NIL deals.
'Today, history moved forward in Florida' as House agrees to Groveland 4 compensation
'We are now one step closer.'
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.
NFIB July Jobs Report: Small Business Employment Index picks back up
Owners reported more unfilled positions and stronger hiring plans, even as qualified applicants remained scarce and compensation pressures increased.
Virginia CEO pay continues to shatter records
Virginia CEO compensation rose to record levels in 2025, led by Capital One's Richard D. Fairbank and DXC Technology's Raul J. Fernandez, reflecting strong equity awards.
Big Tech stock compensation: Why workers stay, leave, or lose equity
Big Tech workers say stock compensation can make leaving difficult, but layoffs, AI startups, and years of stock gains are changing the calculus.
Trump administration says it will comply with court order that temporarily paused $1.8 billion compensation fund
The announcement from the Justice Department comes in response to a Friday court ruling by a federal judge in Virginia who ordered plans for the fund halted pending additional arguments later this month.
Spokane care providers work to protect services
Despite recent staffing and service reductions across Spokane's healthcare sector, some providers here expect to maintain their workforces and offerings, even as they face rising expenses, growing patient demand, and difficulties with Medicaid compensation.
Senate votes to move forward with Protect College Sports Act
The legislation is the latest attempt to set a national standard for the rules of college sports, on issues ranging from eligibility to compensation.
Draft Signing Deadline: Jays Sign All Expected Players
The deadline for signing 2026 MLB draft picks was at 5:00pm ET on Monday. The Toronto Blue Jays had 19 picks in this year’s draft, having forfeited their 2nd and 4th round selections for signing Dylan Cease after he rejected the San Diego Padres’ qualifying offer but receiving a compensation pick in the fourth round […]
Oil prices rise and gold hits two-month high after Trump makes new deal demands on Iran
US president demands compensation for damage incurred by US, complicating standoff with Tehran
Representative Nathaniel Moran introduces H.R. 10582: Motion Picture, Television, and Entertainment Revitalization Act
We have received text from H.R. 10582: Motion Picture, Television, and Entertainment Revitalization Act. This bill was received on 2026-09-24, and currently has 9 cosponsors.Here is a short summary of the bill: This bill would create a new federal tax credit for certain U.S.-based film and television productions. In general, eligible productions could claim a credit equal to a percentage of their qualified compensation costs, meaning wages and c
OPINION: Pay for performance, not for politics
The North Carolina General Assembly approved substantial pay increases for public schoolteachers earlier this year. If a bipartisan commission has its way, teacher compensation will soar over …
Pay for performance, not for politics
The North Carolina General Assembly approved substantial pay increases for public schoolteachers earlier this year. If a bipartisan commission has its way, teacher compensation will soar over the next few
California comp report signals pressure for higher employer costs
California employers could face higher workers compensation insurance costs as rising claim frequency, litigation expenses and persistent underwriting losses put pressure on rates…
Boston Celtics officially announce Jaylen Brown
Per the team, they have "acquired 9-time NBA All-Star and 6-time All-NBA selection Paul George as well as future draft pick compensation from the ... 76ers".
Cancer Health: HIV raises hepatitis C liver disease risk in women more than men
Women with HIV and HCV face higher odds of cirrhosis and liver decompensation but not liver cancer.
Compensation coach explains why email negotiation is a strong strategy
Sara Perelli-Minetti, a former HR leader at Wayfair and Capital One, says candidates should make negotiation requests in writing.
Rays 2026 Draft: Rounds 11-20
The back half of the MLB Draft is where we leave the bonus pool minimums behind. Some players might sign for pretty decent amounts, but it’s the wild west and most will not demand much compensation to fill the Rays org needs. Out of their 21 selections overall, the Rays took 17 pitchers, and that […]
Cowboys acquire former 1st-round pick to solve right tackle issues
The Cowboys made a move to strengthen their offensive line, giving up draft compensation.
Ask these 2 follow-up questions when negotiating salary
Ron Seifert, a rewards and benefits leader at Korn Ferry, advises candidates to ask about how the company makes decisions on compensation.
Dutch consumer group files lawsuit against Epic for misleading young players on Fortnite, seeking more than €100m in compensation
"Epic deliberately designed the game to pressure players into buying. Young consumers are supposed to be protected from exactly that," says group
Trump threatens to revive controversial $1.8bn compensation fund
"It will immediately be back on the table, and I will get it done," the president wrote.
Man City guilty: Premier League rivals demanding sanctions imposed before end of season
Plus: Man City are expected to owe the Premier League tens of millions of pounds in compensation for legal costs; Rui Pinto, whose leaks of private documents helped to trigger the Premier Leagues investigation, will no longer be protected as a witness by Portuguese authorities
How much did Philly-area nonprofit health system CEOs make in 2024?
All CEOs except those at the smallest systems received at least $1 million in compensation.
California workers' compensation bill opposed by NFLPA has been pulled
A bill that would have revamped workers' compensation laws in California to the detriment of professional athletes has died.
UCare paid CEO $1.28M during collapse, including a bonus
Hilary Marden-Resnik and a dozen top executives received incentive compensation last year as the nonprofit health insurer staggered toward its demise.
Brownsville Leaders Approve New Agreement with Police Officers’ Association
The Brownsville City Commission on Tuesday approved a new Collective Bargaining Agreement between the City of Brownsville and the Brownsville Police Officers’ Association, strengthening compensation and benefits for the men and women who serve the community through the Brownsville Police Department.
RISE to Feature Terri Carmichael Jackson, Jessica Caggiano on WNBA
During RISE Women’s Sports last fall, WNBPA Executive Director Terri Carmichael Jackson outlined a vision for a transformational future for the WNBA. A future where player compensation, investment and working conditions finally reflected the league’s explosive growth. Nearly a year later, with a landmark new collective bargaining agreement, record-setting media rights and continued expansion reshaping …
Female college athletes see surge in NIL deals
College sports marketing company Learfield saw a 123% increase in female athlete participation in NIL compensation activities over the 2025-26 fiscal year.
42% of millennial radiologists surveyed say their pay has stagnated over past year
This included about 33% of rads polled, who said their year-over-year compensation has remained flat, while 9% reported a decrease, according to Medscape.
Founder/CEO and Clinical President of Digital Health Company Sentenced
The founder and former Chief Executive Officer (CEO) Ruthia He of Done Global Inc., a California-based digital mental health company, was sentenced today to six years in prison and a $1 million fine for orchestrating a scheme that used her company’s technology platform, compensation structure, and clinical protocols to unlawfully distribute over 37 million pills of Adderall,
Atrium Health boosted executive compensation by 21 percent in 2025
As Atrium Health seeks to combine with WakeMed, its latest compensation report shows 10 executives were paid more than $1 million last year.
The Latest: Trump keeps immunity from tax probes while scrapping $1.8 billion compensation fund
Acting Attorney General Todd Blanche said the Trump administration has definitively scrapped a $1.8 billion fund to compensate President Donald Trump's allies, but the White House is sticking with the part of the deal that permanently drops tax claims against him.
Microsoft staff share pay in internal spreadsheet. See the numbers.
Business Insider analyzed a spreadsheet some Microsoft employees are using to share their compensation.
Supreme Court Declines to Hear Los Angeles Business Owner’s Case Seeking Compensation After SWAT Team Destroyed Shop
WASHINGTON—Today, the United States Supreme Court declined to hear a Los Angeles small business owner’s lawsuit seeking compensation after a SWAT team destroyed his print […]
Small Business Property Owners Disappointed By Supreme Court Decision
NFIB is disappointed by the U.S. Supreme Court decision in the case Pung v. Isabella County concerning tax foreclosures and the compensation of property owners.
Thune calls NCAA sports current state 'at times, chaotic;' backs nationwide standards
College sports have become a national talking point as of late, from athlete eligibility to compensation. Federal efforts in Congress, supported by at least one South Dakota Senator, are looking to tackle the issue.
Cardiology’s busy year: Compensation, productivity, imaging volumes and TAVR cases all on the rise for heart specialists
Cardiologists appear to be thriving in the face of adversity. Even as the specialty juggles an aging population, a workforce shortage and unfavorable reimbursement policies, compensation and productivity continue to climb.
National Federation of Independent Business releases June Jobs Report
Small business hiring ticked up in June, but owners still struggled to find qualified workers as compensation pressures eased.
Maresca controversy grows as Manchester City and Chelsea trade statements
Manchester City have issued a counter-statement to Chelsea, as the controversy continues to grow over how and when they approached Italian Enzo Maresca, prompting a €20m compensation package.It was ...
Man Utd Learn Conditions To Appoint Breakout Premier League Manager
As Michael Carrick’s tenure falters, the Red Devils eye Brighton’s tactical prodigy Fabian Hürzeler, though a massive compensation fee stands between the German and Old Trafford.
Three CT business owners charged with workers’ compensation violations
Three people have been arrested and charged with violations of Connecticut’s workers’ compensation laws, officials said.
Senate Voting on Motion to Bar Trump From Creating Compensation Fund
Senator Chuck Schumer, Democrat of New York, introduced the motion. A handful of Republicans have indicated that they would support such a measure, which needs just 50 votes to pass.
Heart surgeons now earn more than $1 million per year
Cardiac surgeon compensation is up 11%, according to new survey data from MedAxiom and the American College of Cardiology. Vascular surgeons experienced an increase in pay as well, but it was much smaller.
Arsenal agree deal with Crystal Palace youngster
Crystal Palace youngster Mylo Bernard has agreed to join Arsenal, with the Gunners reportedly only needing to pay a training compensation payment.Photo via Bernard on InstagramJames McNicholas reports...
New in the VA Health and Benefits Mobile App: View your benefit overpayment debt details
If you have a benefit overpayment debt related to disability compensation, pension or education benefits, it's now viewable in the VA Health and Benefits mobile app.
Vaishali Sirkay: Supporting student mental health and wellbeing
Vaishali "Shali" Sirkay is one of four candidates vying for three seats on the Los Altos School District Board of Trustees in this November's General Election. Her top priorities include closing the "opportunity gap," fostering an inclusive environment and maintaining high employee compensation.
Japan sees record number of workers’ compensation approvals for mental health in fiscal 2025
The figure, published in this year’s white paper on measures to prevent karōshi, marked a record high for the seventh consecutive year.
Which Premier League clubs seek compensation from Manchester City?
Manchester City have been found guilty of 114 of the 115 charges relating to alleged breaches of the Premier League’s financial regulations.The eight-time Premier League winners now face the possibi...
Highest compensation at Tapestry 360 Health
Tapestry 360 Health, formerly known as Heartland Health Centers, is a Federally Qualified Health Center with locations on Chicago's North Side in Albany Park, Lincoln Square, Rogers Park, Uptown, Lakeview and seven school-based health centers.
Caesars Entertainment Data Breach Lawsuit Investigation
If you were affected by the Caesars Entertainment data breach, you may be entitled to compensation.
Senate passes sweeping college sports package
It is a massive piece of legislation, setting national rules on everything from NIL compensation to conference realignment.
Carpenter’s heart attack after restraining donkey ruled compensable
A New York appeals court on Thursday upheld workers compensation coverage for a carpenter who suffered a heart attack after helping restrain a donkey at his employer’s owner’s residence.
Monetary compensation becomes key sticking point in Iran deal as Trump bristles at comparison to Obama agreement
One of the key sticking points remaining in negotiations between the US and Iran centers on monetary compensation, as President Donald Trump is eager to strike a deal that will be viewed as superior to a prior agreement inked during the Obama administration, a US official familiar with the talks told CNN.
IMD ranked as Europe’s top business school by Bloomberg Businessweek - IMD business school for management and leadership courses
IMD has reclaimed the top spot in Bloomberg Businessweek’s 2026–2027 ranking of MBAs in Europe and the Middle East, returning to the position it held in 2024. Across the four indexes that make up the ranking, IMD led the region in Learning and Networking, placing third for Entrepreneurship and fifth for Compensation. It is the
Orange County teachers face ongoing pay and health insurance disputes
The recommendations come as the two sides remain at an impasse over compensation and health care costs
Interventional radiologists see largest year-over-year pay gain among physicians: Doximity
IR specialists saw their average annual compensation leap 10.8%, up to $634,658 in 2025, according to the online professional network for doctors.