RTX Delivers GPS Ground Control Network to Space Force After Years of Delay
The Next Generation Operational Control System, known as OCX, was delivered on July 1, according to a statement. If final checkouts are successful, it will begin operations later this year, about nine years later than planned.
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No water, no ceiling, no power — Detroit sues Florida landlord in city's largest ever lawsuit of its kind
Imagine living in a home with no running water, or renting an apartment with ceilings that are caving in and electrical outlets that don't provide power. These are just some of the brutal living conditions at the center of a massive lawsuit filed by the city of Detroit. RealToken, a Florida-based blockchain real estate company, has been accused of public nuisance violations that involve hundreds of residential properties in Detroit. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it "This is the largest nuisance abatement lawsuit ever filed by the city of Detroit," Conrad Mallett, corporation counsel for the city of Detroit, shared with the Detroit Free Press. One RealToken tenant — an older American named Brenda Davis, who's lived in her apartment for 16 years with only one late rent payment — found herself facing eviction when she stopped paying rent after her water was shut off. "After being here 16 years, this is what you're going to do to an elderly person?" said Davis. "It makes no sense. And they should not be able to keep doing this and getting away with it." What is a blockchain real estate company? RealToken, or RealT, is a company that allows investors around the world to invest in the U.S. housing market by offering "fractional ownership of Detroit properties represented as digital tokens," according to the lawsuit. Launched in 2019, the company has garnered more than 65,000 investors who, based on the company's website, have invested in 'fully-compliant, fractional, tokenized ownership" of rental properties. Buying these 'representative tokens' gives investors an ownership share in the properties, which includes voting rights and regular payments of rental income. Despite RealToken being located in Florida, the company's properties are primarily located in Detroit. RealToken reportedly hired local management companies to support tenants in Detroit and ensure the units are properly maintained. In response to the lawsuit, RealToken blames these management companies for the poor living conditions in its properties. 'These companies were paid hundreds of thousands of dollars to oversee RealToken's properties, address tenant complaints and make repairs, and maintain each of our properties in accordance with City of Detroit municipal codes,' said RealToken in a statement shared with the Detroit Free Press. 'As it turns out, there are many instances where these goals were not achieved, and each management company, in its own way, stole these funds to the detriment of RealToken and more importantly, the tenants we serve.' Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. City officials aren't buying it 'The landlords are pretty much faceless, the investors sometimes are overseas and the damage is very real,' Detroit City Councilwoman Angela Calloway shared with WXYZ. That damage has left tenants coping with a host of issues, including rodents, sinks that don't work, cracks in windows, structural issues and fire hazards. The lawsuit also alleges that RealToken owes hundreds of thousands of dollars in property taxes. "For years, we've seen a pattern that must end," said Mary Waters, an at-large Council Member. 'Slumlord and scam artists exploiting Detroit renters, unsafe housing, unreturned security deposits, illegal evictions. These are not just individual cases. They are systemic failures.' The city filed the lawsuit in Wayne County Circuit Court, alleging violations of health and safety codes as well as local building codes. The lawsuit is also seeking $500,000 in unpaid tickets. City officials are urging a judge to order that all RealToken rent payments must be put into an escrow account, and that no eviction notices will be sent out until all of RealToken's properties pass a compliance inspection. RealToken, however, claims it has not yet been served with a lawsuit. Meanwhile, the company claims in its statement that it's working on fixing the issue, but warns that "this process cannot happen overnight. It takes time. But we are committed to addressing every issue and finally execute on our original mission." What rights do tenants have in these situations? While the lawsuit works its way through the courts, many of the tenants are still suffering from RealToken's failure to provide a safe living environment. This is why it's important for tenants to understand their legal rights. The State of Michigan is very clear about tenants's rights, requiring landlords to ensure that properties are habitable, which means rented units must have: Walls and a roof that are structurally sound Hot and cold running water A working HVAC system Working toilets Working plumbing A working electrical system Safe stairs with railings No combustible materials If a landlord does not make any necessary repairs, tenants can: Make repairs themselves and deduct the cost from rent payments Withhold rent until the repairs are made Terminate the lease There are also low-cost or even free options in most states for tenants to get legal help with landlord issues. For example, Michigan Legal Help has resources that residents can use to find an advocate. The Consumer Financial Protection Bureau also has a list of all the different resources tenants can use to find legal services in their state. But before exploring legal options, if you're struggling with unsafe living conditions in your home, contact your landlord and inform them of the issues. Just remember to document everything during your correspondence. If the landlord proves to be less than helpful, you can decide whether you want to pay for the repairs yourself and deduct the cost from rent, withhold rent altogether, or seek legal assistance. What to read next Robert Kiyosaki warns of 'massive unemployment' in the US due to the 'biggest change' in history — and says this 1 group of 'smart' Americans will get hit extra hard. Are you one of them? How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
25 minutes ago
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How Boomers Can Take the Guesswork Out of Retirement Planning To Know They Have Enough Saved
According to a new Vanguard consumer survey, many Americans are unsure about how much they should save or where to start. While the survey focuses on summer savings habits, such as building up emergency funds and reducing idle cash, it also highlights a deeper issue: Widespread uncertainty surrounding financial planning. Learn More: Read Next: 5 Cities You Need To Consider If You're Retiring in 2025 This includes older Americans, such as baby boomers, many of whom are navigating short-term needs as they approach retirement age. Here's how boomers can take the guesswork out of retirement planning to know they have enough saved. Use a Retirement Calculator Nearly a third (28%) of all respondents listed 'not knowing where to start' as a chief reason for not saving more. However, guessing based on past income or general rules of thumb won't cut it, especially with inflation, rising healthcare costs and longer lifespans. Individuals can use retirement calculators from trusted financial institutions such as Vanguard or Fidelity to estimate how much they'll need to save. These tools typically factor in a person's age, expected expenses, desired retirement age and current savings to assess whether they are on track for a successful retirement. For those seeking a more tailored approach, working with a fee-only financial advisor can provide deeper insight. Advisors often use Monte Carlo simulations, a method that models thousands of potential financial scenarios, to help clients understand their likelihood of meeting retirement goals. Even using a general benchmark, such as aiming to replace 80% of pre-retirement income, can offer more clarity than relying on guesswork. Check Out: Start With the 50/30/20 Framework Not having a savings plan is comparable to driving without a map — forward motion may still occur, but the destination is uncertain. A strong financial plan extends beyond retirement, encompassing near-term objectives, emergency reserves and timelines for various investments. To reduce uncertainty, many financial experts recommend starting with the 50/30/20 framework, which involves allocating 50% of your income to essential needs, 30% to discretionary spending and 20% to savings and debt repayment. That final 20% can then be divided further to cover an emergency fund, retirement contributions and short-term financial goals such as travel or medical expenses. Budgeting tools like YNAB (You Need a Budget) or PocketGuard can help automate this process and provide real-time visibility into spending habits. For retirees or those in semi-retirement, income sources may include Social Security benefits, portfolio withdrawals or annuities. A structured withdrawal strategy, such as the 4% rule, can help ensure savings last throughout retirement by setting a sustainable pace for drawing down assets. Open a High-Yield Savings Account Many boomers have substantial savings in 401(k) plans or IRAs but lack readily accessible cash for emergencies or large purchases. Without liquidity, unexpected expenses can force you to sell investments or take on high-interest debt. Open a high-yield savings account (HYSA) with a competitive annual percentage yield (APY). Many currently offer 4% or higher interest rates. Keep at least three to six months of living expenses there. For added yield, consider a certificate of deposit (CD) ladder, which involves splitting money across multiple CDs with staggered maturity dates, ensuring some funds are always available. Vanguard and other brokerages also offer money market funds that combine safety with better interest than a checking account. Set Up Automatic Transfers Some boomers continue to earn high incomes, but steady earnings do not necessarily translate into long-term wealth. Lifestyle inflation, where spending increases as income rises, can quietly erode savings potential. In many cases, the lack of progress stems from failing to automate savings or establish consistent financial habits. To remove the guesswork, financial planners often recommend setting up automatic transfers from checking accounts into designated savings and investment accounts, timed to occur shortly after each payday. Using a percentage-based approach, such as allocating 10% to 15% of one's monthly income, can help individuals naturally scale their savings as their earnings grow. Reviewing one's savings rate twice a year and tracking net worth through platforms like Empower can provide valuable insight into overall financial progress. Use Free Tech Tools Many boomers still rely on paper statements or broad advice, overlooking tech tools that can simplify financial planning. However, today's platforms are designed to be user-friendly, even for those less comfortable with technology. Free tools from firms like Vanguard, Fidelity and Schwab enable users to set goals, model their income, and track their investments. Others, like Boldin and SmartAsset, help visualize scenarios such as downsizing or delaying Social Security. Even linking all accounts in a single dashboard can reveal gaps or inefficiencies, bringing greater clarity to a retirement plan. More From GOBankingRates How Far $750K Plus Social Security Goes in Retirement in Every US Region This article originally appeared on How Boomers Can Take the Guesswork Out of Retirement Planning To Know They Have Enough Saved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
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Salesforce (CRM) Wins Analyst Confidence With AI Advances and Price Hike Potential
Salesforce, Inc. (NYSE:CRM) is one of the . On July 16, Citizens JMP analyst Patrick Walravens reiterated a 'Market Outperform' rating on the stock with a $430.00 price target. The firm came out optimistic on the stock following its chat with Richard Socher at the Citizens Technology Forum. The forum was held at the Solage Resort in Calistoga, California. Socher is not only the CEO and founder of and General Partner and founder of AIX Ventures, but also a former Executive Vice President and Chief Scientist at Salesforce from 2016 to 2020. Being an influential AI researcher, Socher's background has been helpful in assessing Salesforce's position in the AI landscape. Besides Citizens JMP, other firms such as JMP Securities and Cantor Fitzgerald are also optimistic about the stock due to factors including Informatica's preliminary proxy statement, which reveals multiple potential acquirers involved in the merger process, along with the increasing adoption of Agentforce and the likelihood of increased revenue from upcoming price hikes. Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained popularity following the unveiling of its AI-powered platform, Agentforce. While we acknowledge the potential of CRM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
