What’s In This Email

• Parents turn to side hustles amid rising costs

• Hamilton's Stelco sold to Cleveland-Cliffs for $3.4B

• Promise Cherry Beach is a vibe

• Figure it out, mom

• Notable Spotlight: Lyla

• Notable Listing: 302 - 1630 Queen St. E

• Notable Plug 🔌

✍️ TAKE NOTE

Parents Turn to Side Hustles Amid Rising Costs

As the cost of living continues to soar, nearly half of parents with children under 18 are taking on side hustles to make ends meet, according to a new survey by Bankrate. This trend highlights the financial pressures many families face today, prompting a significant portion of the population to seek additional income streams.

Key Takeaways

• Rising Trend:

  • More than one in three U.S. adults now have a side hustle, with parents of younger children leading the charge. 45% of parents with kids under 18 engage in side gigs, compared to 36% of childless adults and 28% of parents with adult children.

• Average Earnings:

  • Those with side hustles earn an average of $891 per month. Many are relatively new to this trend, with 52% having started their side gigs within the last two years.

• Financial Strain:

  • Inflation and rising expenses, including education costs, are major factors driving this shift. For example, Jordan Chussler, a parent and editor, supplements his income with freelance work and restaurant jobs to cover his daughter's $10,600 private school bill and other household expenses.

• Utilization of Extra Income:

  • Many parents, like Chussler, are using the additional income to secure their financial futures, investing in Roth IRAs and education funds for their children.

Why this matters: The growing reliance on side hustles reflects broader economic challenges, including inflation and the rising cost of living. For many families, a single income is no longer sufficient to maintain financial stability. Understanding this trend can provide valuable insights into the changing economic landscape and the pressures faced by modern households. This information is particularly relevant for those considering side gigs or seeking to understand the broader impacts of economic shifts on family life.


Read the full article here.

Hamilton's Stelco Sold to Cleveland-Cliffs for $3.4B: What It Means for the Steel Industry and the Community

In a major industry shake-up, Hamilton-based steelmaker Stelco Holdings Inc. has been sold to U.S. company Cleveland-Cliffs Inc. for $3.4 billion CAD. This acquisition marks a significant development in the North American steel industry, impacting local economies and the broader steel market.

Key Takeaways

• Acquisition Details:

  • Stelco agreed to sell all issued and outstanding common shares for $70 per share to Cleveland-Cliffs.

  • The deal includes maintaining Stelco's headquarters in Hamilton and keeping its current community and academic partnerships intact.

• Stelco's Operations and Legacy:

  • Stelco operates two major steelmaking facilities in Ontario—one in Hamilton and the other in Nanticoke.

  • The company has a storied history, including a previous acquisition by U.S. Steel Co. and a subsequent buyout by Bedrock Industries under Alan Kestenbaum.

• Strategic Importance of Nanticoke Plant:

  • The Nanticoke facility, known for its modern and efficient operations, is the "crown jewel" of Stelco's assets. The future of the Hamilton operations remains uncertain, with potential consolidation in Nanticoke suggested.

• Community and Workforce Impact:

  • Cleveland-Cliffs has committed to maintaining Stelco's workforce and community engagements, including its partnerships with local sports teams and academic institutions.

Why this matters: This acquisition is not just a corporate transaction; it signifies broader implications for the steel industry, local economies, and workforce dynamics. For Hamilton and Nanticoke, the deal promises continuity but raises questions about the future of local jobs and industrial operations. For the North American steel market, it represents a strategic consolidation that could influence market dynamics and competitiveness. This story highlights the importance of community, industrial heritage, and the economic realities of a globalized industry.


Read the full article here.

@jordshore

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Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.