The way to become rich in America is as a highly paid executive of a successful company, or as an employee of a company that awards stock options that become valuable. Ten percent of the self-made millionaires in America are men or women who have joined large corporations, or companies that became large, and worked for these companies for many years. They usually worked hard, were promoted and paid increasingly well, earned stock options, bonuses and profit sharing, and as a result of holding onto that money, became millionaires and multi-millionaires.
Paul Allen started Microsoft with Bill Gates, sold out when he became ill, took much of his share of the company in stock, and is now a multi-billionaire. The Seattle area is famous for having so many —Microsoft millionaires,“ people who went to work for Microsoft in the 1970‘s and 1980‘s, sometimes as secretaries and programmers, received stock options, and became wealthy when they exercised them. Many senior executives receive bonuses and profit-sharing worth many millions in a single year. Working for a large company that grows, pays well and shares its profits is a major source of wealth in America.
Many executives have stayed with those corporations for many years, have risen to positions of seniority, are paid extremely well, are given stock options, profit sharing and bonuses, and as a result of holding on to the money, they became millionaires. Not so long enough, Lee Iacocca, the chairman of Chrysler Corporation, was paid 26.7 million dollars for one year. Michael Eisner of Disney earned a $150 million dollar bonus. It’s not too hard to become a self-made millionaire if you’re making that kind of money in a year.
The reason that people retire poor is perhaps as important, if not more important, than all the others. It is lack of time perspective. In a longitudinal study conducted by Dr Edward Banfield at Harvard University in the 1950s and published in 1964 as The Unheavenly City, he studied the reasons for upward socio-economic mobility. He wanted to know how you could predict whether an individual or a family was going to move upward one or more socio-economic groupings and be wealthier in the next generation than they were this generation.
Banfield studied and compared his findings against the most common explanations for economic success in America, and in other countries. Was it education? No. Many people with good educations actually moved down economically. Was it intelligence? No. A lot of very intelligent people are poor and can’t earn a living. Was it being born into the right family? No. Many people born into affluent families did poorly as adults, while many people with poor educations became very successful. Was it being in the right part of the country? Was it being in the right industry? Was it luck? What factors were best at predicting that a person would move up economically over the years?
All his research brought him to a single factor that he concluded was more accurate than any other in predicting success in America. They called it time perspective. This was defined as the amount of time that you take into consideration when planning your day-to-day activities and when making important decisions in your life. Time perspective referred to how far you projected into the future when you decided what you were going to do or not do in the present.
The news already becomes a need for every one and news is moving into a big industry especially for telecommunication industry. Radio and television have grabbed the chance to provide accurate and fastest news for public. We can see there are some big television companies which grow and bigger from news as focus. The ABC and CNN are just few samples of news power.
The Directtv, HBO, National Geographic and other satellite televisions already prepare the business growing with inserting updated news into its programs. Even usually the program from popular provider is not free like ordinary direct TV which using antenna as receiver the free program but this is not a big reason for public to reduce news consumption.
Directv do some revolution with the cheaper monthly fee, we can receive every updated news and others good programs. This revolution should be doing by most of television company because the competition has running tight and the public become selective customer. If they don’t want to close the company, they have to follow the market rule and demand. Every improvement service will help public to choose the favorite program and can absorb the advertising to join into the program. This is a benefit of service result from provider because actually nothing is free in television program.
