Wednesday, May 25, 2016

Science says parents of successful kids have these 13 things in common

Science says parents of successful kids have these 13 things in common

Richard Branson and mom EveClive Rose/Getty ImagesRichard Branson and his mother, Eve.
Any good parent wants their kids to stay out of trouble, do well in school, and go on to do awesome things as adults. 
And while there isn't a set recipe for raising successful children, psychology research has pointed to a handful of factors that predict success.
Unsurprisingly, much of it comes down to the parents.
Here's what parents of successful kids have in common:

 

View As: One Page Slides


1. They make their kids do chores.

1. They make their kids do chores.
AngryJulieMonday/flickr
"If kids aren't doing the dishes, it means someone else is doing that for them," Julie Lythcott-Haims, former Dean of Freshmen at Stanford University and author of "How to Raise an Adult" said during a TED Talks Live event. 
"And so they're absolved of not only the work, but of learning that work has to be done and that each one of us must contribute for the betterment of the whole," she said. 
Lythcott-Haims believes kids raised on chores go on to become employees who collaborate well with their coworkers, are more empathetic because they know firsthand what struggling looks like, and are able to take on tasks independently.  
She bases this on the Harvard Grant Study, the longest longitudinal study ever conducted.
"By making them do chores — taking out the garbage, doing their own laundry — they realize I have to do the work of life in order to be part of life," she tells Tech Insider.

2. They teach their kids social skills.

2. They teach their kids social skills.
REUTERS/Elijah Nouvelage
Researchers from Pennsylvania State University and Duke University tracked more than 700 children from across the US between kindergarten and age 25 and found a significant correlation between their social skills as kindergartners and their success as adults two decades later.
The 20-year study showed that socially competent children who could cooperate with their peers without prompting, be helpful to others, understand their feelings, and resolve problems on their own, were far more likely to earn a college degree and have a full-time job by age 25 than those with limited social skills.
Those with limited social skills also had a higher chance of getting arrested, binge drinking, and applying for public housing.
"This study shows that helping children develop social and emotional skills is one of the most important things we can do to prepare them for a healthy future," said Kristin Schubert, program director at the Robert Wood Johnson Foundation, which funded the research, in a release.
"From an early age, these skills can determine whether a child goes to college or prison, and whether they end up employed or addicted."

3. They have high expectations.

Using data from a national survey of 6,600 children born in 2001, University of California at Los Angeles professor Neal Halfon and his colleagues discovered that the expectations parents hold for their kids have a huge effect on attainment
"Parents who saw college in their child's future seemed to manage their child toward that goal irrespective of their income and other assets," he said in a statement.
The finding came out in standardized tests: 57% of the kids who did the worst were expected to attend college by their parents, while 96% of the kids who did the best were expected to go to college.
In the case of kids, they live up to their parents' expectations.

4. They have healthy relationships with each other.

4. They have healthy relationships with each other.
Shutterstock
Children in high-conflict families, whether intact or divorced, tend to fare worse than children of parents that get along, according to a University of Illinois study review.
Robert Hughes, Jr., professor and head of the Department of Human and Community Development in the College of ACES at the University of Illinois and study review author, also notes that some studies have found children in nonconflictual single parent families fare better than children in conflictual two-parent families.
The conflict between parents prior to divorce also affects children negatively, while post-divorce conflict has a strong influence on children's adjustment, Hughes says.
One study found that, after divorce, when a father without custody has frequent contact with his kids and there is minimal conflict, children fare better. But when there is conflict, frequent visits from the father are related to poorer adjustment of children.
Yet another study found that 20-somethings who experienced divorce of their parents as children still report pain and distress over their parent's divorce ten years later. Young people who reported high conflict between their parents were far more likely to have feelings of loss and regret.

5. They've attained higher educational levels.

5. They've attained higher educational levels.
Merrimack College/Flickr
2014 study lead by University of Michigan psychologist Sandra Tang found that mothers who finished high school or college were more likely to raise kids that did the same. 
Pulling from a group of over 14,000 children who entered kindergarten in 1998 to 2007, the study found that children born to teen moms (18 years old or younger) were less likely to finish high school or go to college than their counterparts. 
Aspiration is at least partially responsible. In a 2009 longitudinal study of 856 people in semirural New York, Bowling Green State University psychologist Eric Dubow found that "parents' educational level when the child was 8 years old significantly predicted educational and occupational success for the child 40 years later."

6. They teach their kids math early on.

6. They teach their kids math early on.
Flickr/tracy the astonishing
2007 meta-analysis of 35,000 preschoolers across the US, Canada, and England found that developing math skills early can turn into a huge advantage.
"The paramount importance of early math skills — of beginning school with a knowledge of numbers, number order, and other rudimentary math concepts — is one of the puzzles coming out of the study,"coauthor and Northwestern University researcher Greg Duncan said in a press release. "Mastery of early math skills predicts not only future math achievement, it also predicts future reading achievement."

7. They develop a relationship with their kids.

2014 study of 243 people born into poverty found that children who received "sensitive caregiving" in their first three years not only did better in academic tests in childhood, but had healthier relationships and greater academic attainment in their 30s. 
As reported on PsyBlog, parents who are sensitive caregivers "respond to their child's signals promptly and appropriately" and "provide a secure base" for children to explore the world.
"This suggests that investments in early parent-child relationships may result in long-term returns that accumulate across individuals' lives," coauthor and University of Minnesota psychologist Lee Raby said in an interview.

8. They're less stressed.

8. They're less stressed.
Flickr/Oleg Sidorenko
According to recent research cited by Brigid Schulte at The Washington Post, the number of hours that moms spend with kids between ages 3 and 11 does little to predict the child's behavior, well-being, or achievement. 
What's more, the "intensive mothering" or "helicopter parenting" approach can backfire. 
"Mothers' stress, especially when mothers are stressed because of the juggling with work and trying to find time with kids, that may actually be affecting their kids poorly," study coauthor and Bowling Green State University sociologist Kei Nomaguchi told The Post.
Emotional contagion — or the psychological phenomenon where people "catch" feelings from one another like they would a cold — helps explain why. Research shows that if your friend is happy, that brightness will infect you; if she's sad, that gloominess will transfer as well. So if a parent is exhausted or frustrated, that emotional state could transfer to the kids. 

9. They value effort over avoiding failure.

9. They value effort over avoiding failure.
China Stringer Network/Reuters
Where kids think success comes from also predicts their attainment. 
Over decades, Stanford University psychologist Carol Dweck has discovered that children (and adults) think about success in one of two ways. Over at the always-fantastic Brain Pickings, Maria Popova says they go a little something like this: 
A "fixed mindset" assumes that our character, intelligence, and creative ability are static givens that we can't change in any meaningful way, and success is the affirmation of that inherent intelligence, an assessment of how those givens measure up against an equally fixed standard; striving for success and avoiding failure at all costs become a way of maintaining the sense of being smart or skilled.
A "growth mindset," on the other hand, thrives on challenge and sees failure not as evidence of un-intelligence but as a heartening springboard for growth and for stretching our existing abilities. 
At the core is a distinction in the way you assume your will affects your ability, and it has a powerful effect on kids. If kids are told that they aced a test because of their innate intelligence, that creates a "fixed" mindset. If they succeeded because of effort, that teaches a "growth" mindset.

10. The moms work.

10. The moms work.
Getty Images/Daniel Berehulak
According to research out of Harvard Business School, there are significant benefits for children growing up with mothers who work outside the home.
The study found daughters of working mothers went to school longer, were more likely to have a job in a supervisory role, and earned more money — 23% more compared to their peers who were raised by stay-at-home mothers.
The sons of working mothers also tended to pitch in more on household chores and childcare, the study found — they spent seven-and-a-half more hours a week on childcare and 25 more minutes on housework.
"Role modeling is a way of signaling what's appropriate in terms of how you behave, what you do, the activities you engage in, and what you believe," the study's lead author, Harvard Business School professor Kathleen L. McGinn, told Business Insider.
"There are very few things, that we know of, that have such a clear effect on gender inequality as being raised by a working mother," she told Working Knowledge.

11. They have a higher socioeconomic status.

11. They have a higher socioeconomic status.
EagleBrookSchool
Tragically, one-fifth of American children grow up in poverty, a situation that severely limits their potential.
It's getting more extreme. According to Stanford University researcher Sean Reardon, the achievement gap between high- and low-income families "is roughly 30% to 40% larger among children born in 2001 than among those born 25 years earlier." 
As "Drive" author Dan Pink has noted, the higher the income for the parents, the higher the SAT scores for the kids. 
"Absent comprehensive and expensive interventions, socioeconomic status is what drives much of educational attainment and performance," he wrote.

12: They are 'authoritative' rather than 'authoritarian' or 'permissive.'

12: They are 'authoritative' rather than 'authoritarian' or 'permissive.'
Spencer Platt / Getty
First published in the 1960s, University of California, Berkeley developmental psychologist Diana Baumride found there are basically three kinds of parenting styles [pdf]
  • Permissive: The parent tries to be nonpunitive and accepting of the child 
  • Authoritarian: The parent tries to shape and control the child based on a set standard of conduct  
  • Authoritative: The parent tries to direct the child rationally 
The ideal is the authoritative. The kid grows up with a respect for authority, but doesn't feel strangled by it. 

13: They teach 'grit.'

13: They teach 'grit.'
Chris Hondros / Getty
A West Point cadet at graduation.
In 2013, University of Pennsyvania psychologist Angela Duckworth won a MacArthur "genius" grant for her uncovering of a powerful, success-driving personality trait called grit. 
It's about teaching kids to imagine — and commit — to a future they want to create.

Greece just made a 'major breakthrough' in solving its debt crisis

Greece just made a 'major breakthrough' in solving its debt crisis

greek greece flag euroREUTERS/Francois Lenoir
Greece and its creditors have reached a deal that could be a major step on the road to solving the stricken nation's debt crisis.
Late on Tuesday night and into Wednesday morning, over nearly 12 hours of talks, representatives from Greece, the International Monetary Fund, and the Eurogroup agreed upon a series of loose measures to help restructure Greek debt when the country's bailout deal concludes in 2018. As it stands, that bailout is worth €86 billion (£65.4 billion, $95.8 billion).
The creditors did not put any numbers on exactly how the restructuring would look, but one option includes reducing the exposure of the IMF, which has been the spearhead of these renewed talks, to the Greek bailout by buying out up to €14.6 billion of its loans.
The deal also includes the possibility of the eurozone handing over €10.3 billion of rescue loans to keep Greece solvent this summer.
The first part of that would be a €7.5 billion cash injection in June. It would be expected to tide Greece over until at least October, and would mark the first injection of money into Greece from outside since late in 2015.
Speaking at the conclusion of talks, Eurogroup president Jeroen Dijsselbloem said: "We have achieved a major breakthrough on Greece which enables us to enter a new phase in the Greek financial assistance programme."
Dijsselbloem was not the only senior figure in the discussions to strike an upbeat tone about the restructuring, with the IMF's Europe chief, Poul Thomsen, saying the fund had made an "important concession" and everyone involved in the talks had "shown flexibility."
"These measures constitute a universe of measures that we think can deliver the necessary debt relief by the end of the period," Thomsen added.
Pierre Moscovici, the commissioner for economic affairs of the European Union, called the deal "a very important moment in a long and sometimes difficult story."
While the deal is a substantial breakthrough in talks that have been struggling to reach any solid conclusions in recent weeks, nothing agreed upon has been completely approved, as all options are subject to the political agreement of eurozone countries.

Exclusive: U.S. queries AB InBev on distribution incentives amid merger probe

Exclusive: U.S. queries AB InBev on distribution incentives amid merger probe

The logo of Anheuser-Busch InBev is pictured outside the brewer's headquarters in Leuven, Belgium February 25, 2016. REUTERS/Yves Herman/File Photo Thomson ReutersThe logo of Anheuser-Busch InBev is pictured outside the brewer's headquarters in Leuven
By Diane Bartz
WASHINGTON (Reuters) - U.S. antitrust officials are investigating Anheuser-Busch InBev over its new incentives that encourage independent distributors to sell more of its own beer brands at the expense of competing craft brews, two people with knowledge of the matter said.
Budweiser owner AB InBev has 45.8 percent of the U.S. beer market but has seen sales dwindle at least partially because of rising craft beer sales.
The U.S. Department of Justice last year probed AB InBev's plan to buy distributors in response to craft brewers' complaints that it aimed to curb competition. The purchases of two distributors in California, two in Colorado and one in New York have since closed.
The beer giant introduced the new incentive program at a distributors' meeting in late 2015, and the U.S. authorities are looking into it as part of its antitrust review of
AB InBev’s planned more than $100 billion takeover of global rival SABMiller PLC , the two people said.
AB InBev has offered to divest all of SABMiller's U.S. assets, so there is little expectation that the deal could stumble over craft brewers' complaints.
There is a precedent, however, for the Justice Department to put limits on incentive programs. When AB InBev bought Grupo Modelo in 2013, it required the Modelo beers in the United States to be divested and required AB InBev to refrain from offering incentives to distributors that would hurt Modelo for three years.
Investigators at the Justice Department have contacted beer distributors and craft brewers, asking about the incentive plan as well as AB InBev’s other steps aimed at curbing craft promotion by distributors, those people said.
The Justice Department declined to comment.
The independent distributors aligned with AB InBev are contractually required to spend a certain amount each year to advertise AB InBev beers. Those include products of breweries such as Blue Point or Goose Island, which used to be craft brewers, but are now part of AB InBev group.
Under the new incentive plan, AB InBev refunds 75 percent of this money if its beers make up 98 percent of the distributor's sales, according to documents provided to lawmakers by AB InBev.
The greater the share of rival beers in a distributor's sales, the less money it receives, according to the document.
Even if a distributor raised sales of AB InBev beers, it would still receive less money if craft sales rise faster.
That makes the incentives appear designed primarily to suppress craft sales rather than boost AB InBev sales, several people familiar with the plan told Reuters. They spoke on condition of anonymity to protect business relationships.
A distributor that would want to promote a craft beer would be also required to run an equal promotion for Budweiser, which becomes prohibitively expensive, the people said.
AB InBev said it continued to "cooperate fully" with the Justice Department's review of the merger with SABMiller, which this week got cleared by the European authorities and which the group expected to complete in the second half of 2016.
Gemma Hart, an Anheuser-Bush spokesperson, defended the incentive program as a "reflection of just how competitive the U.S. beer industry has become."
"Our voluntary incentive program clearly does not prevent or inhibit other brands from getting to market," she said, noting that nearly all Anheuser-Busch distributors carried other brands.
Of the estimated 3,000 U.S. distributors, about 1,100 are aligned with legacy brewers like AB InBev or MillerCoors and serve big retailers and restaurant chains as well as small stores. The remaining distributors are much smaller and do not provide as much access to large-scale retailers.
AB InBev's practices are not outright illegal, but could be deemed as such if AB InBev is found to be dominant and aiming primarily at shutting out rivals rather than building up their own sales, antitrust experts said.
Unlike most industries, which may have several distribution channels, beer in many states must be sold through independent distributors. Most cities have a distributor aligned with AB InBev, another with MillerCoors and may have a third that specializes in craft beer.
BIG BEER MARKET STAGNATING
AB InBev, the product of a 2008 merger between Anheuser-Bush and Belgian-Brazilian brewer InBev, tops the U.S. beer market followed by MillerCoors, with a 26 percent share.
But the two groups have been challenged by craft brewers, defined as independent operations make no more than 6 millions barrels a year. They offer everything from classics to oddball brews like Funky Buddha Brewery's Banana Split Ale and captured 12.2 percent of the U.S. market last year compared with just 5 percent in 2010.
Antitrust experts said paying distributors to suppress craft sales could run afoul of antitrust law. "It's the large manufacturers that are trying to narrow the channel of distribution that is most cost effective," said Andrew Gavil, who teaches at the Howard University School of Law. "That's the big story here."
Gavil said that AB InBev would likely defend itself by saying its market share was hardly dominant.
Andre Barlow, an antitrust expert with the law firm Doyle, Barlow and Mazard PLLC, said, however, the group had enough of a clout to raise concerns.
"ABI has the power to limit the distributors' ability to distribute the craft brews."
It can be sometimes hard to prove in court that practices such as incentives that aim at reducing rivals' sales violate antitrust law because a company could argue that the practices are good for consumers, other antitrust experts said.
(Reporting by Diane Bartz; Editing by Tomasz Janowski)
Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

Microsoft slashes nearly 2,000 jobs as its smartphone business crumbles

Microsoft slashes nearly 2,000 jobs as its smartphone business crumbles

microsoft ceo satya nadellaJustin Sullivan/Getty ImagesMicrosoft CEO Satya Nadella.
Microsoft  $52.13
MSFT+/-+0.54%+1.00
Disclaimer
Microsoft is taking an ax to its smartphone business.
The American tech company is cutting nearly 2,000 jobs, it announced Wednesday, including 1,350 from Finland as it ceases phone design and production in the country.
The Finland layoffs were reported earlier by the Finnish press. After years of partnership, Microsoft acquired Nokia's smartphone business in 2014, giving it a presence in the country. Steve Ballmer, then Microsoft's CEO, said before the acquisition that Finland would become the "hub and the centre for our phone R&D."
But Microsoft's phone business has struggled to eat into the market share of the major players Google and Apple, and Microsoft has since moved away from the Nokia brand, selling off its featurephone business earlier this month.
According to research from Gartner, Microsoft now accounts for less than 1% of the global smartphone business, down markedly on last year.
microsoft smartphone market shareGartner
Microsoft executive Terry Myerson informed employees of the layoffs in an email seen by The New York Times, saying the company needed "to be more focused in our phone hardware efforts." There will be up to 1,850 layoffs in total.
In a statement, CEO Satya Nadella said: "We are focusing our phone efforts where we have differentiation — with enterprises that value security, manageability, and our Continuum capability, and consumers who value the same ... We will continue to innovate across devices and on our cloud services across all mobile platforms."
As The Times, points out, this is just the latest in a line of cuts targeting the company's smartphone business. Microsoft laid off 18,000 people in 2014, followed by another 7,800 last year.

Oil is at a 7-month high

Oil is at a 7-month high

US crude is hovering at its highest point since October 2015.
West Texas Intermediate touched $49.28 in early trade in London on Wednesday, its highest point in 7 months. WTI is up 1.28% to $49.24 at 7.10 a.m. BST (2.10 a.m. ET).
Here's how that looks over the long-term:wtiInvesting.com
UK Brent is usually more expensive than US crude but the tables have been reversed on Wednesday morning. At the time of writing UK Brent is up 1.28% at $49.23 per barrel. It's the first time the US price has been more or less on a par with the UK price since mid-January, according to CMC Markets chief analyst Michael Hewson.
Hewson says in an email this morning: "The rally in oil prices was driven by a big draw of 5m barrels, well over expectations when the latest API data was released last night."
API is the American Petroleum Institute, which measures the supply of oil in the US. Traders are hoping the 5 million supply drop may be a sign that the oversupply to the market has peaked. The drop also smashed expectations, with a Reuters poll predicting a 2.5 million barrel slide and S&P Global Platts forecasting a 3.3 million decline.
The surge in oil prices helped US stock markets to rally overnight too, with all major indices recording a gain over 1%.

Tuesday, May 24, 2016

Billionaire investor Peter Thiel explains the 2 worst pieces of advice you should ignore

Billionaire investor Peter Thiel explains the 2 worst pieces of advice you should ignore

Peter Thiel is a billionaire and one of the best-known investors in Silicon Valley.
But the PayPal cofounder says that none of his success would have happened if he had continued on his career path as a lawyer, which was, as he describes it, a "familiar track." Instead of continuing down that road, he moved out to California, cofounded a technology startup, and made a fortune.
During a commencement speech at Hamilton College on Sunday, Thiel spoke out against conventional wisdom and the familiar track, pointing out two big clichés that end up being wrong more often than they're right.
The first cliché that Thiel takes a shot at is "to thine own self be true." He said:
Now Shakespeare wrote that, but he didn't say it. He put it in the mouth of a character named Polonius, who Hamlet accurately describes as a tedious old fool, even though Polonius was senior counselor to the King of Denmark.
And so, in reality, Shakespeare is telling us two things. First, do not be true to yourself. How do you know you even have such a thing as a self? Your self might be motivated by competition with others, like I was. You need to discipline your self, to cultivate it and care for it. Not to follow it blindly. Second, Shakespeare's saying that you should be skeptical of advice, even from your elders. Polonius is a father speaking to his daughter, but his advice is terrible. Here Shakespeare's a faithful example of our western tradition, which does not honor what is merely inherited.
The other piece of advice that Thiel believes is not justified is "live each day as if it were your last." He said:
The best way to take this as advice is to do exactly the opposite. Live each day as if you will live forever. That means, first and foremost, that you should treat the people around you as if they too will be around for a very long time to come. The choices that you make today matter, because their consequences will grow greater and greater.
The key to Thiel's speech is to avoid trusting the wisdom of crowds. Although Thiel says that teaching and tradition can still have value, he urged the recent graduates to do new things, not blindly follow in the footsteps of their teachers and parents.
He certainly has backed some unconventional ideas about college. In 2010, he started the Thiel Fellowship, which pays teenagers $100,000 to drop out of college and start their own companies.
Watch the full commencement speech below:

Production of Coke halted in Venezuela for lack of sugar

Production of Coke halted in Venezuela for lack of sugar

The logo of Dow Jones Industrial Average stock market index listed company Coca-Cola (KO) is seen in Los Angeles, California, United States, April 4, 2016. REUTERS/Lucy Nicholson Thomson ReutersDow Jones Industrial Average listed company Coca-Cola (KO)'s logo is seen in Los Angeles
(Reuters) - The Venezuelan bottler of Coca-Cola has halted production of sugar-sweetened beverage due to a lack of sugar, a Coca-Cola Co spokeswoman said on Monday.
Venezuela is in the midst of a deep recession, and spontaneous demonstrations and looting have become more common amid worsening food shortages, frequent power cuts and the world's highest inflation.
Production of sugar-sweetened drinks has stopped, but output of diet drinks such as Coca-Cola light and other zero-sugar beverages continued, spokeswoman Kerry Tressler wrote by email. The local bottler, Coca-Cola Femsa SAB , said it would issue a statement later on Monday.
"Sugar suppliers in Venezuela have informed us that they will temporarily cease operations due to a lack of raw materials," Tressler added.
(Reporting by Peter Henderson in San Francisco; Editing by Sandra Maler)
Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

728 X 90

336 x 280

300 X 250

320 X 100

300 X600