Electronic Cash Kings 2014: Preview And Contest

by Shelton on August 26th, 2014

filed under Business Loans

Calvin Harris had the best year of his career in 2013, earning $46 million and a spot atop our annual Electronic Cash Kings list after missing the cut entirely in 2012. Will he keep his crown? Can he approach or exceed his gaudy earnings totals going forward? And what about the other multi-millionaire DJs earnings hundreds of thousands of dollars per night?

The answers to those questions and many others will be revealed when we release our third annual Electronic Cash Kings packageon Tuesday, August 19th, co-edited by myself and my colleague Ryan Mac.

In addition to ranking the world’s highest-paid DJs, we’ll offer exclusive looks-via print, web and video features-into the career of rising superstar Martin Garrix, the post-Swedish House Mafia success of Steve Angello, the business of the increasingly popular Hardwell and the prospects of female electronic acts like Nervo.We’ll even bring you footage of one DJ’s set from the rooftop of our New York headquarters.

In the meantime, we’re opening up our annual challenge: correctly guess this year’s ten top-earning DJs, and you’ll win a signed copy of my new book,Michael Jackson, Inc. (Though the King of Pop wasn’t exactly a DJ, his trailblazing moves in the monetization of fame paved the way for celebrity entrepreneurs of many stripes, including the current crop of EDM stars).

Leave your entries in the comments section below. Anybody who guesses all ten in order gets a special prize in addition to the book.If nobody accurately predicts all ten, the closest guess still wins a book.

Thanks for reading, and be sure to tune in on Tuesday!

For more about the business of music, check out my Jay Z biographyEmpire State of Mindand my new bookMichael Jackson, Inc. You can follow me onTwitteramp;Facebook.

Children Services finances bleak, county officials say

by Shelton on August 26th, 2014

filed under Finances

With a social worker union strike looming, the Butler County commissioners learned Thursday that Children Services is forcasting a $2.6 million shortfall in funds and might not be able to make payroll by the end of 2015.

Negotiations between management and the union shut down yesterday after six-and-a-half hours and about 90 workers are scheduled to go on strike Monday morning. At issue is wages, and Assistant Human Resources Director Jim Davis has said the two sides are about $1 million apart.

The agency’s finance manager Barb Fabelo informed the commissioners that, based on her projections using the past six months of spending data, the agency expenditures will reach $26.6 million but revenues will only reach $24 million so they will have to dip into $2.8 million in reserves at the end of this year. She said if the expected second half levy receipt drops below the expected $6.6 million she will have to “drastically” revise her numbers.

She said they can make it through this year and next but she is projecting a deficit of $1.7 million in 2016 and $3.9 million in 2017 if they don’t change their spending habits. She said she projected flat salaries and state and federal aide. Placing children outside their homes is the biggest drain on the budget.

“One of our biggest areas of expenditures, highest, is placement expenses,” she said. “I’m estimating our residential treatment costs at year-end to come in at 196 percent.That means we’re going to spend all of our budget and almost double that.”

In 2010 Children Services spent $9.1 million on placements and $2.1 million on services aimed at keeping children in their homes. Last year the placement costs jumped to $10 million and service costs dropped to $1 million.

Executive Director Jerome Kearns announced a complete agency overhaul in February and that plan — to streamline processes and offer aggressive intervention for parents who need it — should help reduce the placement costs Fabelo said. The strike on the other hand is a big unknown. While the workers are striking they won’t be paid, but the county is undergoing a massive hiring effort at the moment, trying to get warm bodies in to do the work of the striking workers. Fabelo agreed the new employees will likely be paid less than their striking counterparts.

Commissioner Don Dixon also brought up a levy renewal — the current levy expires in 2017 — saying passage is not a given, so he and his fellow commissioners agreed they need to come up with a Plan B to finance the agency.

“This levy we’re talking about, the $13 million, is a gift from the taxpayers. They’re not required to make this payment, it’s just something they voluntarily put on for the children,” he said. “This (the financial forecast) is all under the assumption that the taxpayers will renew this gift.”

Fabelo agreed but said taxpayers have pretty routinely passed the levy, but the strike could factor in.

“We’ve been successful, we just don’t know what our citizens will do,” she said. “I concern myself with the potential for a strike to impact how our voters feel.”

Union President Becky Palmer said this situation is like deja vu for her and other long time workers. She said several years ago high placement costs were reduced by investing in programs that gave families intensive guidance and supervision, so that the children in many cases didn’t have to be removed from the homes.

“Even in running a business, you invest in the right tools and resources to do the most efficient and quality job,” she said. “We are the tools and resources and if they would allow us to do our job and do it well, the outcome will be safer children and healthier families. If we continue to operate this way, the outcomes will continue to cost this community and the families we serve more in the long run.”