News Feeds

What the Founding Fathers were doing before their act of rebellion made them famous

Thu, 07/04/2019 - 2:59pm  |  Clusterstock

The Fourth of July means summer fun, fireworks, and lots of red, white, and blue decorations, for most of us.

It also marks the day that the Second Continental Congress approved a resolution to declare independence from Britain 243 years ago.

Historians believe that most of the founders didn't actually sign the document until about a month later. But July 4 was the date on the copies that got circulated around the colonies, so that's what the US went with.

Many Americans learn about famous founders like Benjamin Franklin, John Adams, and Thomas Jefferson in school.

Read more: Many people incorrectly think that the Founding Fathers signed the Declaration of Independence on July 4 — here's the real reason the US celebrates that day

But many of the guys who showed up in sweltering Philadelphia during the summer of 1776 were relatively obscure. And a good number of Founding Fathers, like Alexander Hamilton, George Washington, James Madison, and John Jay, didn't even sign the Declaration.

So let's take a look at the lives and careers of some of these lesser known founders. Perhaps unsurprisingly, many of the signers were prominent members of their communities. They worked as lawyers, physicians, merchants, and planters before being elected to the Continental Congress. A vast majority of them also owned slaves.

Here's a breakdown of the career paths of all 56 signers and what brought them to Philadelphia in the sweltering summer of 1776:

SEE ALSO: The 9 weirdest jobs of America's Founding Fathers

DON'T MISS: The top 20 presidents in US history, according to historians

SEE ALSO: 5 famous 'facts' about the Fourth of July that aren't true — and what actually happened instead

John Hancock was a wealthy smuggler

The man with the most famous signature in American history led an allegedly illicit career before he entered the political realm.

On the surface, the president of the Second Continental Congress was a prominent New England merchant and a major financial backer of the revolutionary cause in Boston.

However, Hancock's mercantile fortune was allegedly bolstered through the illegal smuggling of products like Dutch tea, glass, lead, paper, and French molasses, according to the Boston Tea Party Historical Society.

He was charged with smuggling, but was acquitted thanks to his savvy lawyer — John Adams.



John Adams was an unfulfilled teacher before becoming a lawyer

John Adams established a reputation as a talented lawyer that would launch him on the path to the presidency. However, his first job mostly involved keeping order in the classroom.

After graduating Harvard, Adams took his first job as as a schoolmaster in Worcester, Massachusetts, according to the University of Groningen's biography of the second US president.

The career was not fulfilling for Adams and he was often filled with doubt, as evidenced by the personal entries in his famous journal, which the Massachusetts Historical Society has posted online. To keep up with his own reading and writing, Adams would sometimes ask the smartest student to lead class.



Samuel Adams was an incompetent tax collector

The founding father — and inspiration behind the modern day beer company — had a rocky start to his career after graduating from Harvard in 1740.

His first few business ventures ended poorly, and he dropped out of studying law. Even worse, he was an incompetent tax collector, neglecting "to collect the public levies and to keep proper accounts," according to Encyclopedia Britannica.

He later achieved great influence in local politics, founding the Sons of Liberty, Boston's revolutionary group. This activity allowed Adams to become a driving force in the growing movement against Britain's series of new taxes, which ultimately snowballed into the Revolution.



Benjamin Franklin was a runaway printer

Philosopher, statesman, inventor, author — Benjamin Franklin was a true Renaissance Man.

His curious and independent nature was clear early on in his career. Franklin had been apprenticed to his older brother, a printer. This meant that he was legally bound to serve in the role for a set number of years.

The static situation wasn't ideal for him.

According to "Bonds of Citizenship: Law and the Labors of Emancipation" by Hoang Gia Phan, Franklin wrote that he "lik'd [the printer's profession] much better than that of [his] Father, but still had a Hankering for the sea."

So he ran off. Franklin absconded to Philadelphia, where he worked as a rogue printer, before traveling to London to work as a typesetter.



Thomas Jefferson was an egalitarian lawyer

After graduating from the College of William and Mary in 1764, Jefferson began to study law, clerking in the office of fellow signer George Wythe. 

He was admitted to the bar in 1769. Jefferson handled 900 matters while specializing in land cases as a lawyer in the General Court in Williamsburg, Virginia, according to Encyclopedia Virginia. That same year, he was elected to become a delegate in the House of Burgesses.

Influenced by his political ideology, Jefferson served clients from all classes. As he wrote in his "Autobiography" in 1821, he wanted to create a "system by which every fiber would be eradicated of ancient or future aristocracy; and a foundation laid for a government truly republican."



Edward Rutledge was a free speech advocate

At 26, Rutledge was the youngest signer at of the Declaration of Independence. 

At the age of 20, Rutledge sailed to England to study law at the Inner Temple in London. He returned to the colonies in 1773 and began practicing law in 1773.

When he was just 24, Rutledge "gained recognition as a patriot when he successfully defended a printer, Thomas Powell, who had been imprisoned by the Crown for printing an article critical of the Loyalist upper house of the colonial legislature," according to The Society of the Descendants of the Signers of the Declaration of Independence.

During the war, he was captured during the occupation of Charleston, along with his co-signers Arthur Middleton and Thomas Heyward.



Roger Sherman was a well-rounded Massachusetts official

Thomas Jefferson is quoted as calling Sherman "a man who never said a foolish thing in his life," according to "The Portfolio" by Joseph Dennie and John Elihu Hall.

He is the only person to sign the US Declaration of Independence, the Articles of Association, the Articles of Confederation, and the US Constitution.

The Connecticut representative to the Continental Congress received a fragmented education, growing up in a Massachusetts border town. Eventually, Sherman was urged to study law, and was accepted to the bar in 1754.

Before he became involved in creating and signing the four most important documents in early American history, he served as justice of the peace, justice of the Superior Court of Connecticut, and New Milford's representative in the General Assembly.



Francis Lewis survived two shipwrecks

Orphaned at the age of five, Lewis was sent from his hometown of Llandaff, Wales up to live with relatives Scotland. He learned Gaelic, received an education from London's Westminster School, and was apprenticed to a mercantile business in the capital.

After receiving some of his inheritance at the age of 21, Lewis left England for the American colonies. The future signer settled down in Philadelphia and became a merchant. Lewis traveled throughout northern European ports and survived two shipwrecks off the coast of Ireland, according to The Society of the Descendants of the Signers of the Declaration of Independence.

During the French and Indian War, Lewis signed with the British as a clothing contractor at Fort Oswego and supplied the soldiers with uniforms, but was captured in 1756 and imprisoned in France.

Seven years later, Lewis was released and largely retired from business. Instead, he focused on revolutionary activities and became a founding member of the Sons of Liberty, according to The Society of the Descendants of the Signers of the Declaration of Independence.

During the Battle of Brooklyn in 1776, British soldiers attacked burned his home in Whitestone, New York and captured his wife, Elizabeth. She never recovered from her imprisonment and passed away a few years later in 1779, after reuniting with Lewis in Philadelphia.



Robert Treat Paine was a failed ship's master and an itinerant preacher

After his father lost their family's fortune, Robert Treat Paine served as a ship's master on several financially unsuccessful voyages to the Carolinas, Spain, the Azores, and Greenland. During one trip, he managed to get awarded an MA degree from Harvard in absentia.

With personal interests in literature, electricity, and even clock-making, Paine taught school for some time after graduating from Harvard, according to The Society of the Descendants of the Signers of the Declaration of Independence.

Later gigs included a stint as a militia chaplain and some itinerant preaching, before he was admitted to the bar in 1757. Paine eventually moved to Taunton, Massachusetts, where he became very involved in local politics.

During his legal career, Paine became a rival of John Adams. The two lawyers faced off against one another in the tense, landmark trial of the British soldiers who shot civilians during the Boston Massacre. As the defense attorney, Adams prevailed and the accused were acquitted or given reduced sentences.



George Taylor was an indentured servant

Originally immigrating from Northern Ireland as an indentured servant, Taylor worked for an iron-master as a laborer and a bookkeeper.

After the iron-master died, Taylor married his widow and opened up two more iron-works. In 1757, he became the justice of the peace in Pennsylvania's Bucks County.

According to USHistory.org, he was a last minute addition to the Continental Congress: "In 1775 he was appointed to replace a member of the Pennsylvania delegation who refused to support independence. He arrived too late to vote, but did sign the Declaration."



John Morton was a Pennsylvania sheriff

John Morton is now largely remembered as the first of the signers to die, passing away in 1777 at the age of 51.

The descendant of Finnish immigrants, Morton was born in Pennsylvania in 1725. He was a member and speaker of the colony's assembly, served as sheriff of Chester County, and was a justice of the colony's supreme court.

"In 1765, Morton attended the secretive Stamp Act Congress in New York as a delegate from Pennsylvania, placing him at the center of the controversy over unjust British taxation policies," according to the Johnny Morton Project.



Button Gwinnett went through a number of rocky financial ventures

Button Gwinnett's name might sound odd, but it's worth quite a lot of money nowadays.

According to the Atlanta Business Chronicle, Gwinnett's rare signature can fetch up to $800,000, making it the most valuable of the signers of the Declaration.

Gwinnett originally hailed from England, sailing to Savannah in 1765 as a merchant. The Georgia Historical Society's Stan Deaton writes that after his mercantile business crashed and burned, he bought St. Catherines Island and became a planter, only to fail financially again in 1773.

On the eve of the revolution, he became active in local politics again. However, his career didn't last. In 1777, he was shot and killed during a duel with a political rival.



Benjamin Harrison was a college dropout

The man who would become known as the "Falstaff" of the Continental Congress was born to a powerful planter family in Virginia and attended the College of William and Mary.

He dropped out of school at the age of 19, after a bolt of lightning killed his father and two of his sisters, according to The Society of the Descendants of the Signers of the Declaration of Independence.

Starting in 1749, he served in Virginia's House of Burgesses for 25 years and became governor of the state after the Revolution.

"John Adams wrote that Harrison had 'contributed many pleasantries that steadied rough sessions,'" reports The Society of the Descendants of the Signers of the Declaration of Independence.

His son, William Henry Harrison, was elected US president in 1840, and his great grandson Benjamin Harrison was also elected US president in 1888.



Philip Livingston was a New York City alderman

Born into a wealthy Albany family, Philip Livingston attended Yale and became a successful merchant, according to The New Netherland Institute.

In 1754, Livingston was elected to become New York City's alderman. Later on, he became a member of the state's house of representatives and became involved with the colony's rebel government in 1775. He was also a founder of King's College, which is now known as Columbia University.



Benjamin Rush helped combat a yellow fever epidemic

A handful of practicing physicians signed the Declaration, but Benjamin Rush was the only one among them with an actual medical degree.

At the age of 14, Rush left Philadelphia to study at the College of New Jersey, now known as Princeton University. Upon returning home, he began apprenticing with some of Philadelphia's most distinguished physicians, eventually joining the new department of medicine at the College of Philadelphia, according to the University of Pennsylvania's archives. During this time, he chronicled the yellow fever that swept through the city in 1762.

Rush went on to study at the University of Edinburgh, St. Thomas's Hospital in London, and with physicians in France. Upon returning to Philadelphia in 1769, he opened a practice geared toward the poor and served as a professor at the College of Philadelphia. He published pro-revolutionary articles in pamphlets, along with the first American chemistry textbook.



Richard Stockton was a Princeton trustee

Stockton attended the College of New Jersey, now known as Princeton, which was possible in part due to land donations from his father. After graduating, he studied law and was admitted to the bar in 1754 and served as a trustee of his alma mater.

After touring in England, Scotland, and Ireland, he joined New Jersey's Provincial Council and the colony's Supreme Court.

Stockton had the misfortune of being captured and imprisoned during the Revolutionary War. While conditions for prisoners could be brutal and Stockton may have been singled out for being a signer, as historian J.L. Bell points out, some tales of his mistreatment at the hands of the English may stem from 19th century exaggerations.

Stockton survived his captivity and was freed, although he died before the war ended in 1781, according to the Journal of the American Revolution.



George Wythe was one of the nation's first college law professors

On the Declaration itself, George Wythe's signature comes first out of all the the Virginian delegates, as a testament to his lengthy career.

Wythe first practiced law in Elizabeth City County in 1746 at the age of 20, and later served as a clerk in the House of Burgesses, according to Colonial Williamsburg.

He served as a mentor to other future political leaders, such as Thomas Jefferson, John Marshall, and Henry Clay.

A lifelong scholar, Wythe studied the classics, served in the House of Burgesses, served as an attorney general, was the nation's first college law professor, served on the board of the College of William and Mary, and helped frame the Constitution after the war.



Francis Hopkinson was a poet and songwriter

It's likely that the story about Betsy Ross designing the US flag is just that — a story.

In fact, Biography.com reports, Francis Hopkinson is a more likely candidate when it comes to designing the stars and stripes.

Hopkinson received his bachelor's, master's, and law degree from what is now the University of Pennsylvania. He penned treaties with the Delaware and the Iroquois tribes on behalf of the state of Pennsylvania, before moving to New Jersey to work as a customs collector. In 1767, he moved to England in an unsuccessful bid to be appointed a higher position within the customs apparatus.

Returning back to the colonies, he opened a dry goods business, became a customs collector in Delaware, and later became a member of New Jersey's Provincial Council.

His contributions to society went beyond politics and trade — Hopkinson also composed numerous essays, satirical poems, and popular songs including one called "The Battle of the Kegs." He also claimed to have designed at least one version of the US flag.



Charles Carroll of Carrollton helped burn a ship bringing tea to Maryland

A member of the Maryland delegation, Charles Carroll was the only Roman Catholic to sign the Declaration. He was also the last survivor of all of the signers, dying at the age of 96 in 1832, according to the official website of the Charles Carroll House.

Long before he became the last living signer of the Declaration, he was born into a prominent and wealthy Annapolis planting family. He clandestinely received his education at a Jesuit school, with his cousin John Carroll, who would become the first Catholic bishop in the US. Carroll went on to study at St. Omers in Flanders and later at the Inner Temple in London.

In 1773, Carroll penned a series of letters to the Maryland Gazette, promoting pro-independence views. The following year, he played a role in the burning of the Peggy Stewart, a ship carrying tea to Maryland.



Josiah Bartlett was a cash-strapped and innovative doctor

Originally hailing from Amesburg Massachusetts, Bartlett moved to New Hampshire to practice as a physician at the age of 21. When he arrived in the state he would later represent in the Continental Congress, the young doctor carried only "about $30, a small horse, saddle, bridle, saddlebags, with a small bill of medicine, a pocket case of surgeon's instruments and some instruments for pulling teeth," according to The Society of the Descendants of the Signers of the Declaration of Independence.

Bartlett's medical career was distinguished. He once drank a lot of cider to cure his own dangerous fever. Later, when diphtheria tore through Kingston, New Hampshire, Bartlett administered the relatively new treatment of quinine to his patients, instead of bleeding them.

Here's a fun fact for all you "West Wing" fans: his fictional descendant and namesake is US President Josiah Bartlett.



Thomas Lynch Jr. studied law in London and later disappeared

Out of all the signers, Thomas Lynch Jr.'s signature is one of the hardest to come by. That's not surprising, given that he vanished at the age of 30.

Born in South Carolina, Lynch traveled to England to receive an education at Cambridge University and study law in London.

After returning home in 1772, he became "politically engaged," according to USHistory.org, and took on a role as a company commander in a South Carolina regiment. Shortly after retiring from the Continental Congress due to a bout of illness, he and his wife were lost at sea when their ship disappeared.



William Whipple was a young ship's captain

New Hampshire representative William Whipple went to sea at a young age. According to The Society of the Descendants of the Signers of the Declaration of Independence, Whipple was the captain of his own ship by 21.

NBC reported that, after becoming a successful merchant and politician, Whipple put his seafaring background to use, serving as the chairman of the marine, foreign relations and quartermaster committees in Continental Congress.



Matthew Thornton was a physician who served in King George's War

Thornton's family emigrated from Ireland to America when he was three. Growing up in New Hampshire, he became a physician. According to USHistory.org, at the age of 31, he became the New Hampshire militia's official surgeon during King George's War.

Despite his involvement in the anti-Stamp Act agitation, The Society of the Descendants of the Signers of the Declaration of Independence reports that he "held a commission as colonel of militia" under the royal colonial government.



Robert Morris ran an importing business

Morris was born in England, but came to Philadelphia at the age of 10. USHistory.org reports that he was "apprenticed to the counting room of Charles Willing at the age of 16." He partnered with his employer's son after Willing died two years later.

Morris's importing business thrived over the years, but British measures to tax merchants caused him to develop pro-independence views. Ultimately, Morris would go on to finance the revolution against Britain.



Elbridge Gerry was a Harvard-educated merchant

The nation's fifth vice president was born into a prominent merchant family in Marblehead, Massachusetts, a bastion of anti-Crown feeling. After graduating from Harvard, he joined the family business.

According to the official website of the US Senate, Gerry "played a limited role in the resistance movement until the spring of 1770, when he served on a local committee to enforce the ban on the sale and consumption of tea."



Stephen Hopkins was the scientifically-inclined cousin of Benedict Arnold

This cousin of Benedict Arnold can be credited with helping to put his hometown of Providence, Rhode Island on the map, according to The Society of the Descendants of the Signers of the Declaration of Independence.

At 23, he became a justice of peace in Scituate, RI. Down the line, he became the first chancellor of Rhode Island College — now known as Brown University — and was elected governor of Rhode Island in 1755. An avid student of the sciences, he also helped to build a telescope in Providence, which was used to track the path of Venus in June 1769.

Hopkins also makes an appearance in John Trumbull's famous painting "The Declaration of Independence." He's the guy wearing a hat in the background.



William Ellery was a customs collector

After graduating from Harvard, this Newport, Rhode Island native joined his father in the mercantile business.

Ellery eventually shifted into politics, according to the National Park Service's biography, eventually becoming a customs collector and the clerk of the Rhode Island General Assembly. In 1770, he was admitted to the bar and became immersed in revolutionary activity with the Sons of Liberty.



Samuel Huntington was a cooper's apprentice

Born the fourth of 10 children in Connecticut's Scotland Parish, Huntington grew up helping his father on the family farm. As a teenager, he was apprenticed to a cooper, "completing his apprenticeship willingly but without enthusiasm," according to to the Connecticut State Library.

The future president of the Continental Congress used his spare time to study law in the library of Rev. Ebenezer Devotion. He was admitted to the bar in 1754, and in 1761 he married the reverend's daughter, Martha Devotion.



William Williams was a jaded French and Indian War veteran

This signer was initially set to continue his father's legacy and become a Christian minister after graduating from Harvard.

Instead, he followed his uncle — and early Williams College benefactor — Colonel Ephraim Williams to battle, after the French and Indian War erupted. Ephraim lost his life after being shot in the head near Lake George in 1755.

"William returned home after this wartime experience with a feeling of contempt for the British officers in general, who were haughty and who openly regarded the colonists as inferior men. He put aside the idea of further religious study, opened a store in Lebanon, and prospered as a merchant," according to The Society of the Descendants of the Signers of the Declaration of Independence.

He embarked on a political career at the age of 25, becoming a town clerk, then a selectman for the town of Lebanon, Connecticut, and representative and speaker of the lower house for the Connecticut Assembly.



Oliver Wolcott was at the top of his class in Yale

After graduating in the top of his class from Yale, Wolcott received a captain's commission to fight in the French and Indian War.

The Litchfield Historical Society reports that after the war, the Windsor, Connecticut native studied medicine for some time, and then moved to Litchfield to become a merchant and the county's first sheriff.

The future Revolutionary War general worked as an assembly representative and held positions within the local militia.



William Floyd was a prominent Long Island businessman

Floyd grew up in Brookhaven, Long Island and lost his father when he was 17. As the eldest son, he inherited his wealthy family's estate and became an "excellent farmer and manager," according to The Society of the Descendants of the Signers of the Declaration of Independence.

In addition to farming, Floyd's estate featured a dock on the Atlantic Ocean, allowing him to trade and fish for seafood. He quickly became a prominent figure in eastern Long Island, and held positions as a Brookhaven trustee, militia officer, and member of the local assembly.



Lewis Morris was a judge

This Yale graduate was the half-brother of founding father Gouverneur Morris, according The New Netherland Institute. Early on in his career, helped "his father in running the large agricultural estate, named Morrisania, located in what is now New York City."

In 1760, Britain appointed Morris to a judgeship of the Admiralty Court — he resigned from the post in 1774 when he became more active in revolutionary politics.



John Witherspoon was the president of Princeton

In addition to being a signer of the Declaration, John Witherspoon also became Princeton's sixth president in 1767. He was the only college president to sign the document.

The University of Edinburgh graduate was originally an ordained Church of Scotland minister. "The trustees of [Princeton] first elected him president in 1766, after Samuel Finley's death; but Mrs. Witherspoon was reluctant to leave Scotland, and he declined," according to W. Frank Craven's entry in "A Princeton Companion."

However, the efforts of medical student and future fellow Declaration signer Benjamin Rush persuaded the Witherspoons, their five children, and their 300 books to make the journey across the Atlantic.

"They were greeted a mile out of town by tutors and students, who escorted them to Morven, home of Richard Stockton," Craven writes. "That evening the students celebrated the occasion by 'illuminating' Nassau Hall with a lighted tallow dip in each window."

He strived to fix the college's increasingly dire financial situation by increasing enrollment and improving academic standards.



John Hart was a justice of the peace

It's unclear exactly when or where this New Jersey delegate was born, but it's likely that he lacked much formal schooling.

However, according to The Society of the Descendants of the Signers of the Declaration of Independence, Hart "... was well regarded for his common sense, was reasonably well read as proved by his understanding of the law, and showed acumen on business matters."

He bought property in the town of Hopewell, New Jersey and eventually purchased a large mill in the area, as well. He was elected justice of the peace in 1755 and served on the New Jersey's colonial legislature.



Abraham Clark was known as a 'poor man's councilor'

Born in Elizabethtown, New Jersey, Clark started off as a surveyor and later switched to law.

According to the "Biographical Annals of the Civil Government of the United States," he became known as the "poor man's councilor" due to his penchant for representing and giving legal advice to members of the lower class.



George Clymer was a counting house apprentice

According to the University of Pennsylvania's Archives, Clymer got his start apprenticing in a counting house. By the late 1750s, he had established himself as a prominent Philadelphia merchant.

As a result, he became a city councilman and alderman and served on several local committees that pressed for revolution.



James Smith was a surveyor and a lawyer

Smith was born in Ireland, but his family eventually settled in Pennsylvania, according to The Society of the Descendants of the Signers of the Declaration of Independence.

The founder attended Philadelphia Academy, which is now known as the University of Pennsylvania. After graduating, he became a surveyor and, subsequently, a lawyer.



James Wilson was a college tutor

After dropping out of St. Andrews due to financial difficulties, this Scottish native took up tutoring and later learned merchant accounting.

According to the University of Pennsylvania's Archives, Wilson came to the colonies in 1765, as a tutor at what is now the University of Pennsylvania. He earned his M.A. from the school and studied law.

In the 1770s, he became involved with the pro-independence movement Pennsylvania and began publishing an anti-Crown pamphlet.



George Ross was a prosecutor

Studying law at his older brother's office, Ross was admitted to the bar at the age of 20. According to USHistory.org, he served Carlisle, Pennsylvania as a Crown prosecutor for 12 years, and then served in the colony's legislature.

"There he came to understand first hand the rising conflict between the colonial assemblies and the Parliament," USHistory.org reports. "He was an unabashed supporter of the powers of the former."



Caesar Rodney was a sickly sheriff

The Dover, Delaware native inherited his family's plantation at the age of 17, after his father's death, according to The Society of the Descendants of the Signers of the Declaration of Independence.

He was sickly throughout his life, stricken with asthma and, later on, facial cancer. Still, he ascended to the office of Kent County sheriff, delegate from Kent County to the colonial legislature, and judge of the Delaware Superior Court, among others.



George Read was an attorney general

Born in Cecil County, Maryland, Read studied law and was admitted to the bar in Philadelphia at the age of 19. Ten years later, Read was appointed attorney general.

According to The Society of the Descendants of the Signers of the Declaration of Independence, he attempted to warn "British government of the danger of attempting to tax the colonies without giving them direct representation in Parliament" but eventually resigned when that proved fruitless.



Thomas McKean was a loan office trustee

After studying law in his home state of Pennsylvania, McKean left to join the Delaware bar in 1754. He also gained certification to work as a barrister in 1758.

He became involved in local governments, serving as justice of the peace, trustee of the local loan office, deputy attorney general for New Castle County, and representative of the Delaware Assembly, according to the The American National Biography.

In 17773, he moved to Philadelphia, where he became an opponent against the Crown.



Samuel Chase became known as the 'Maryland Demosthenes'

The future Supreme Court Justice was born in Maryland and began to study law in Annapolis in 1759.

During his tenure in the colony's legislature, Chase became known as the "Maryland Demosthenes" due to his revolutionary fervor and strength as an orator, according to The American National Biography.



William Paca was an anti-poll tax activist

According to USHistory.org, Paca obtained his master's degree from Philadelphia College at the age of 18 before moving to Annapolis and the Inner Temple in London to study law.

After being admitted to the bar, Paca became involved in local politics, opposing the royal governor's poll tax.



Thomas Stone was a well-traveled lawyer

Born near Welcome, Maryland in 1743, Stone decided early on that he wanted to study law, according to The Society of the Descendants of the Signers of the Declaration of Independence. He moved to Annapolis to study, and later to Frederick, Maryland to practice after being admitted to the bar at 21.

He started practicing on the circuit court in 1765, a career path that saw him traveling between Port Tobacco, Frederick, Annapolis, and Philadelphia.

"This travel pattern was not only long and time consuming, but dangerous and fatiguing, all the while maintaining active law practice in two localities," The Society of the Descendants of the Signers of the Declaration of Independence reported.



Richard Henry Lee was a 'fiery' planter

Lee belonged to an influential planting family. After receiving his formal education in Yorkshire, England and serving as a justice of the peace in Westmoreland County, Virginia, Lee was elected to the House of Burgesses in 1758.

According to the official website of the Lee family's estate, Stratford Hall, Lee was a skilled orator and "possessed a fiery, rebellious spirit," which earned him an enemy in Lord Dunmore, the royal governor of Virginia.

Along with his brother, Francis Lightfoot Lee, he was active in revolutionary activities even since the passage of the Stamp Act and promoted the foundation of the Committees of Correspondence in 1768, a system that allowed the colonies to exchange information and ultimately rallied against the Crown.



Thomas Nelson threw a one-man tea party in protest of the Crown's tax policy

Born in Yorktown to a powerful family, Thomas Nelson Jr. became "a leading merchant, businessman, Burgess, and member of the Governor's Council," according to the National Parks Service.

Nelson was sent to England to receive his education at Christ's College at Cambridge University. He returned to the colonies and began serving in Virginia's House of Burgesses in 1761. The legislative body was dissolved in 1774, after it condemned the Crown's reaction to the Boston Tea Party.

According to The Society of the Descendants of the Signers of the Declaration of Independence, "To protest this action, Nelson began spending some of his personal fortune, sending needed supplies to Boston. He arranged a Yorktown tea party and personally threw two half-chests of tea into the York River."



Francis Lightfoot Lee was a reluctant politician

Francis Lightfoot Lee was born to a prominent and powerful Virginia planting family.

According to the official website of the Lee family's estate, Stratford Hall, Lee was not eager to enter public service and serve in the First Virginia Convention on the eve of the Revolution: "He served reluctantly at first, preferring to spend time with his new wife and the building of their home, Menokin. But as the Revolution neared, Frank cast his lot with the Virginia patriots."

Lee befriended Thomas Jefferson and Patrick Henry, and later served in the second Continental Congress with his brother, Richard Henry Lee.



Carter Braxton was a calming influence in Virginia politics

Born to a wealthy planting family in Virginia. Braxton received an education the College of William and Mary. According to The Society of the Descendants of the Signers of the Declaration of Independence, he moved to England in 1757 for three years, after the death of his first wife. Upon returning, he was elected to the House of Burgesses.

Before the Revolutionary War broke out in Virginia, Braxton helped to calm the turbulent political crisis that followed after the royal governor confiscated Williamsburg's store of gunpowder. 



William Hooper was a Tory who was once attacked by anti-government rioters

Defying his parents' wishes that he would enter the Anglican clergy, Hooper obtained an M.A. in theology from Harvard, but went on to practice law, according to the North Carolina History Project.

Before the Revolutionary War, Hooper became a deputy attorney, a deputy attorney general, and a state representative in North Carolina. He supported the Crown throughout much of his early political career. Anti-government rioters even attacked him in 1770, dragging him through the streets of Hillsborough.

In the following years, Hooper began to shed his loyalist mantle and adopt more rebellious opinions.



Joseph Hewes was a New Jersey native living in North Carolina

How did this New Jersey native and Princeton graduate come to represent North Carolina during the Continental Congress?

After graduating, Hewes moved to Philadelphia to apprentice with a local importer and merchant, and later set up his own successful mercantile venture, according to the North Carolina History Project.

He moved to North Carolina in 1760 and was elected to the colony's legislature only three years later.



John Penn was a legal apprentice

Starting at the age of 18, Penn served as a legal apprentice to his uncle, Virginia House of Burgesses member Edmund Pendleton. In 1762, he received a law license and moved to Granville County, North Carolina, according to the North Carolina History Project.

At the age of 34, he was elected to North Carolina's Provincial Congress, and then selected to represent the colony in the Continental Congress of 1775.



Thomas Heyward was a tourist traveling around Europe

Born to a South Carolina planter family, Heyward received a formal education and then began studying law with a prominent barrister. Later, Heyward travel to England, to finish his studies in Middle Temple.

He took several years to tour Europe and then returned to the colonies, having adopted anti-Crown sentiments, according to The Society of the Descendants of the Signers of the Declaration of Independence.

During the war, he was captured during the occupation of Charleston. He nearly drowned after falling off a prison ship, but survived by clinging to the rudder.



Arthur Middleton was the member of a secret pro-independence committee

After graduating from Cambridge University and studying law at London's Middle Temple, South Carolina native Arthur Middleton took two years off to tour throughout Europe.

In 1763, Middleton returned to South Carolina at the age of 21. According to The Society of the Descendants of the Signers of the Declaration of Independence, he became a justice of the peace and a member of the colony's House of Commons, where he joined a secret committee to prepare South Carolina for war.

In 1770, he and his wife Mary embarked on another three year tour of Europe. Upon returning, he continued to support radical policies, including "tar and feathering and confiscation of estates belonging to Loyalists who had fled the country," according to The Society of the Descendants of the Signers of the Declaration of Independence.

Middleton was captured during the occupation of Charleston, but was freed in 1781 and continued to serve in South Carolina's government.



Lyman Hall was a Yale-educated physician

Hall started out as a Yale-educated Congregational minister, but became a physician in 1753, according to the Georgia Historical Society's Stan Deaton. In Georgia, he balanced his medical career with an avid interest in local revolutionary activity.



George Walton was a bored carpenter

After being orphaned at a young age, Walton was adopted by an uncle who apprenticed him as a carpenter. However, carpentry held little interest for the future signer of the Declaration.

Walton was probably around 20 years old when he arrived in Savannah, Georgia to pursue a legal career. "By the eve of the American Revolution he was one of the most successful lawyers in Georgia," writes the Georgia Historical Society's Stan Deaton.



THE DIGITAL EVOLUTION OF WEALTH MANAGEMENT: How emerging technologies can improve the user experience, while cutting costs and boosting revenue

Thu, 07/04/2019 - 1:01pm  |  Clusterstock

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

An increasing number of wealth managers are using new technologies to make their operations more efficient and to increase customer satisfaction.

The technologies they are implementing include robotic process automation (RPA), chatbots, machine learning, application programming interfaces (APIs), and explainable AI.

In this report, Business Insider Intelligence analyzes how emerging technologies like RPA and AI are transforming the wealth management industry, on both the front and back end, by increasing efficiency and opening up the space to new demographics. We explain how both incumbents and startups are applying these technologies to different business areas, and how successful they've been at implementation. Additionally, we take a look at the challenges wealth managers are facing as they look to revamp their businesses for the digital age.

Here are some of the key takeaways from the report:

  • Startup wealth managers and digitally savvy technology suppliers are bringing emerging technologies to the fore to make wealth management more time- and cost-efficient. These include RPA, machine learning, and AI. Big players in the space are also beginning to wake up to those opportunities.
  • The technologies can improve consumer-facing elements of wealth management, like onboarding and customer service, to increase customer satisfaction.
  • Machine learning and APIs can help wealth managers improve functions like portfolio management and compliance, and help them better stay on top of regulations, and increase customer satisfaction by offering improved and additional services.
  • However, there are some challenges wealth managers are facing when implementing these tools, ranging from a lack of customer trust in emerging technologies to difficulty finding appropriate talent.

 In full, the report:

  • Outlines how the wealth management industry is implementing emerging technologies.
  • Details which technologies they are using, and what their specific benefits are. 
  • Discusses the potential challenges wealth managers are facing when implementing new technologies.
  • Highlights what wealth managers need to do to stay relevant in the field.
Subscribe to an All-Access pass to Business Insider Intelligence and gain immediate access to: This report and more than 250 other expertly researched reports Access to all future reports and daily newsletters Forecasts of new and emerging technologies in your industry And more! Learn More

Purchase & download the full report from our research store

Join the conversation about this story »

Beijing just finished construction on its massive new international airport — here's what it looks like

Thu, 07/04/2019 - 12:18pm  |  Clusterstock

  • Beijing has finished construction on its new international airport.
  • The Beijing Daxing International Airport, located to the city's south, will start commercial flights around September 30.
  • Scroll down for a first look at the completed airport.
  • Visit Business Insider's homepage for more stories.

Construction on Beijing's second international airport was completed this week, putting the airport on track to begin operations by its September 30 target.

As Chinese air-traffic numbers continue to soar, the country's aviation infrastructure has become more and more crowded. According to Bloomberg, China is on pace to displace the US as the largest aviation market by 2022. Crowding is particularly acute at airports in major cities like Beijing.

Now that construction has wrapped up, pictures of the $12.9 billion dollar facility are beginning to emerge. Keep reading for an inside look at the newest international airport.

SEE ALSO: Dutch airline KLM is telling customers to fly less as the aviation industry confronts the 'flight shaming' movement

Here it is: the brand-new Beijing Daxing International Airport.

When it opens later this year, the airport will help China manage its increasing air traffic — for both leisure and business.

Daxing will put Beijing on the list of major cities with multiple international airports, such as New York, London, Paris, and Tokyo.

The Beijing Daxing International Airport will be capable of handling 72 million passengers annually by 2025, and 100 million by 2040.

Road and rail links between the airport and the main city are already in place and should be fully operational when service begins from the airport.

There will be six major test runs with takeoffs and landings before the airport enters service, according to Bloomberg. The first of these took place on May 13, with aircraft of varying sizes from Air China, China Southern Airlines, China Eastern Airlines, and Xiamen Airlines participating.

The site, including the open, spacious terminal building, took five years to build.

Combined, Daxing and the older Beijing Capital International Airport will handle 170 million annual passengers by 2025, according to official estimates reported by Bloomberg.

The 'Dr. Doom' economist and the CEO of a crypto exchange are in a massive spat — here's what both sides told us

Thu, 07/04/2019 - 12:15pm  |  Clusterstock

  • An economist nicknamed "Dr. Doom" for his pessimistic predictions traded insults with the CEO of a cryptocurrency exchange in an unaired debate at the Asia Blockchain Summit this week.
  • Cryptocurrency critic Nouriel Roubini and crypto proponent Arthur Hayes held a discussion marketed as the "Tangle in Taipei" on Wednesday, but the conversation wasn't broadcast.
  • Hayes called Roubini a "one-trick pony," while Roubini called Hayes a "total arrogant jerk" in emails to Markets Insider.
  • View Markets Insider's homepage for more stories.

An economist nicknamed "Dr. Doom" for his pessimistic predictions traded insults with the CEO of a cryptocurrency exchange in an unaired debate at the Asia Blockchain Summit this week.

Nouriel Roubini, an economics professor at New York University's Stern School of Business, has been a longtime skeptic of Bitcoin and frequent critic of the cryptocurrency industry's lack of regulation.

Arthur Hayes, CEO of BitMEX, a cryptocurrency derivatives trading platform headquartered in the Seychelles, has been a vocal proponent of cryptocurrencies.

The pair held a discussion marketed as the "Tangle in Taipei" on Wednesday, but the conversation wasn't broadcasted live. Roubini and Hayes shared some of the contents of their debate, and their views of one another, with Markets Insider.

"Due to a lack of analytical rigor behind his criticisms of Bitcoin, Roubini attempted to focus the debate on the business practices of BitMEX," Hayes said.

"After the debate, it was quite clear that Roubini is a one-trick pony," he added. "He increases his publicity by being hyper-critical of Bitcoin regardless of the actual facts. And that is why the media trots him out whenever they need someone to bash Bitcoin and the cryptocurrency industry."

Roubini was even more critical of Hayes, in an email to Markets Insider.

"The guy is a total idiot who does not know how to debate; he was pathetic, rehashing old, stale arguments that made no sense," Roubini said. "It was embarrassing to watch him speak. He is a total arrogant jerk."

"Everyone who watched the debate there — even crypto zealots — told me and told others that I was the clear winner," he added.

Read more: 'You just have more people annoying you:' The CEO of a cryptocurrency platform offering 100x leverage explains why he turns down investor cash

Roubini also attacked BitMEX as a "total scam" that flouts financial regulations around money laundering and verifying customers' identities.

He accused the exchange of insider trading, front-running, using blackouts to prevent clients from trading, charging excessive fees, taking advantage of unaccredited investors by offering them excessive leverage on crypto derivatives, and turning a blind eye to US customers illegally trading on its platform through the use of virtual private networks.

"The guy is a thug that is a public danger to thousands of small clueless investors who have lost their shirt because of his scam," Roubini said. BitMEX "should be prosecuted for fraud and banned fully," he added.

We've reached out to Hayes for comment on Roubini's accusations and will update if we hear back.

SEE ALSO: The economist nicknamed 'Dr. Doom' just gave a bleak economic outlook — calling China and Iran 2 'big shocks' that will lead to 'severe recession'

NOW READ: ‘You just have more people annoying you:’ The CEO of a cryptocurrency platform offering 100x leverage explains why he turns down investor cash

Join the conversation about this story »

NOW WATCH: MacKenzie Bezos pledged to donate more than half of her life's fortune. Here's how she went from one of Amazon's first employees to an award-winning novelist.

Here's what industry experts are saying about those Ford-Volkswagen rumours

Thu, 07/04/2019 - 11:58am  |  Clusterstock

  • Volkswagen and Ford could be set to further extend their alliance from January through a new form of strategic partnership, sources tell Business Insider. 
  • M&A bankers say the deal "makes sense" and could boost the automaker's push into automated driving and provide additional cost efficiencies. 
  • The auto industry has been squeezed by declining margins from car sales and increased regulatory pressure making partnerships increasingly necessary. 
  • Click here for more BI Prime stories.

Less than six months since Volkswagen and Ford announced an auto alliance that could save them billions of dollars, the two auto giants could be set to further merge strategically, sources tell Business Insider.

It's another sign that the global auto industry is squeezed with companies looking to take on strategic deals in the face of declining sales for many brands, and an increasing need to automate and electrify their output. 

The January deal between the two carmakers sought to share efficiencies across production, but importantly across electric vehicles and autonomous driving. A further strategic tie-up between Volkswagen and Ford would "make sense," according to one London-based M&A banker. Automation and cost efficiency synergies were two noted areas of promise, they said.

Ford acknowledged the value of its existing partnership with VW but declined to give details of further plans. "Both companies have said we are open to considering additional vehicle programs in the future. The teams will continue working through details," a spokesperson said.

This year has already seen moves from the auto industry to collaborate as margins are squeezed amid a slowdown in car sales and greater regulatory pressure

Fiat Chrysler sought to merge with Nissan and Renault earlier this year, but the deal fell through. Similarly, news emerged Thursday of a deal between German manufacturers BMW and Daimler to pool developers in a bid to develop autonomous driving technology.

At the time of January's announcement, Ford's CEO Jim Hackett said: "I think you're going to see a lot more of what we did with VW," in interview comments to CarBuzz. "There will be winners and losers in our business like you've never seen before. I think you will see companies looking for scale, because some technologies need to scale to be effective."

The automakers have been transparent about the nature of their talks, with one source familiar with the matter indicating that discussions were on a good path to expand the current global alliance. Volkswagen declined to comment. 

This appears to be the general direction of travel for automakers. 

In May, Bank of America noted: "As cycle/macro pressures potentially escalate in the future, we believe deals and partnerships could emerge, especially as scale in new technology will be critical for OEMs (original equipment manufacturers) to earn returns above the cost of capital over the cycle." The report's authors, John Murphy, Aileen Smith, Yarden Amsalem, and Gwen Yucong Shi, said, "In the interim, the industry could see more unofficial alliances focused on spreading investment cost including, but not limited to: joint ventures, alliances, contract manufacturing agreements, among others."

Despite that, there is still some doubt over the viability of a complete merger between the two automakers given the companies' varying geographies, and trust difficulties between the families which run the car manufacturers respectively.

Ford is a dominant player in the US market while VW has a greater foothold in China. A further strategic alliance could have major differences in focus and direction.

January's tie-up required high levels of trust between the Porche-Piech family which controls VW and the Ford Family, according to Financial Times reporting. Many major automakers are run by families with Fiat Chrysler ultimately controlled by the Agnelli family with these relationships making merger opportunities tricky to navigate.

Both companies also have large exposures to Europe which has seen a major decline in car sales in recent years. The combination of regulation, compliance, a shrinking market, and even Brexit, could see margins trimmed further still if companies fail to diversify, according to a March note from Nomura.

The current alliance sees the companies share production of medium-sized pickup trucks and city vans along with a broader agreement to cooperate on autonomous driving and electric vehicles. The alliance could see cost efficiencies save over $1 billion by 2023.

SEE ALSO: ‘The auto industry can’t sit still, it’s impossible’: How the electric vehicle revolution will drive M&A, according to Bank of America

Join the conversation about this story »

NOW WATCH: New York City is getting even more infested with rats. Here's why cities can't get rid of them.

A firm donated $750,000 of fireworks to Trump's Fourth of July show — and Trump scrapped planned fireworks tariffs the same day

Thu, 07/04/2019 - 10:49am  |  Clusterstock

  • On the same day Phantom Fireworks donated $750,000 worth of sparklers and bottle rockets to the US government, President Trump scrapped plans to impose tariffs of 25% on virtually all Chinese goods including fireworks, according to ABC News.
  • Phantom's CEO and vice-president sit on the board of the American Pyrotechnics Association, which recently signed an open letter calling for the US government to remove tariffs on Chinese goods.
  • Phantom CEO Bruce Zoldan made his case directly to Trump during an Oval Office meeting with business executives in May, but the group didn't discuss fireworks, he told ABC News.
  • Phantom executives told ABC News the gift wasn't politically motivated and had been planned months before.
  • View Markets Insider's homepage for more stories.

On the same day Phantom Fireworks donated $750,000 worth of sparklers and bottle rockets to the US government, President Trump scrapped plans to impose tariffs of 25% on virtually all Chinese goods including fireworks, according to ABC News.

Phantom, America's largest consumer-fireworks retailer, has repeatedly lobbied the Trump administration to end the US-China trade war.

The company's CEO and vice-president, Bruce Zoldan and William Weimer, sit on the board of the American Pyrotechnics Association, which recently signed an open letter calling for the government to remove tariffs on Chinese goods.

Phil Grucci, CEO of Fireworks by Grucci — the pyrotechnics producer deploying Phantom's fireworks during this year's show — serves as the advocacy group's treasurer.

Zoldan made his case directly to Trump during an Oval Office meeting with business executives in May, but the group didn't discuss fireworks, he told ABC News. Trump struck a truce with Chinese President Xi Jinping last Saturday to resume trade talks and hold off on across-the-board tariffs.

Phantom executives told ABC News the gift wasn't politically motivated and had been planned months before. President Trump publicly thanked both fireworks companies on Tuesday.

"Thanks to 'Phantom Fireworks' and 'Fireworks by Grucci' for their generosity in donating the biggest fireworks show Washington D.C. has ever seen," Trump tweeted. "CEO's Bruce Zoldan and Phil Grucci are helping to make this the greatest 4th of July celebration in our Nations history!"

Almost all fireworks sold in the US are made in China, the world's biggest producer of pyrotechnics. Sales of fireworks in the US have more than tripled in the past 20 years and exceeded $1.3 billion last year, according to APA data. At least 10 fireworks companies signed the open letter opposing tariffs, highlighting the industry's large stake in the US-China trade war.

SEE ALSO: Analysts are widely skeptical of the US-China trade truce — and some warn that more tariffs are coming within a year

Join the conversation about this story »

NOW WATCH: Jay-Z is hip-hop's first billionaire. See how he and Beyoncé make and spend their money.

These are the 10 biggest banks in the world in 2019

Thu, 07/04/2019 - 10:27am  |  Clusterstock

  • Chinese banks came out on top as the world's biggest, according to calculations by The Banker.
  • American banks are more efficient in use of their assets. 
  • British banks defied the Brexit slump by increasing their profits. 
  • Read more on Markets Insider. 

Every year, The Banker compiles a list of the biggest banks in the world, and yet again Chinese banks have dominated the top of the list. 

The Banker includes 1000 banks across the list, ranking them based upon Tier 1 capital — a yardstick used by regulators to assess a bank's financial health.  

On the list of the top 10 banks, only four of them were American, with one from the UK, one from Japan and the rest were Chinese.

While Chinese banks were the largest, American banks were more efficient in use of their assets, The Banker said.

"Free and open markets encourage banks to be more efficient," Editor Brian Caplen said on the publication's website.  "A more closed system in China with greater state involvement is less effective in driving efficiency." 

British banks increased their profits by a third, but were still chasing French banks in terms of profits and capital. 

Check out the list of the 10 biggest banks below. 

10. Mitsubishi UFJ, Japan — $146 billion

9. HSBC Holdings, UK — $147 billion

8. Citigroup, US — $158 billion

7. Wells Fargo, US — $168 billion

6. Bank of America, US — $189 billion

5. JPMorgan Chase, US — $209 billion

4. Bank of China, China — $230

3. Agricultural Bank of China, China — $243 billion

2. China Construction Bank, China — $287 billion

1. ICBC, China — $338 billion

The 25 US cities where rent is increasing the fastest, ranked

Thu, 07/04/2019 - 10:11am  |  Clusterstock

  • Rents across America continue to rise.
  • As of July 2019, the national median rent for a one-bedroom apartment is $1,220, according to a report by Zumper.
  • Business Insider teamed up with Zillow to take a look at the top 25 cities out of the 100 largest US cities where one-bedroom rents are increasing at the fastest rate.
  • Over 50% of the states listed are located in the southern or western parts of the US.
  • Visit Business Insider's homepage for more stories.

Median rents for one-bedroom apartments across the country continue to soar. 

The national median price for a one-bedroom apartment was $1,220 as of July 2019. That's a .8% year-to-date increase.

But just how much is rent going up? We teamed up with Zillow to find the top 25 cities out of the 100 largest US cities where one-bedroom rents are increasing at the fastest rate. What we found was that most of those cities aren't our usual big-city contenders — and that over 50% of the states listed are located in the southern or western parts of the country.

Read more: The salary you need to afford rent in every state, ranked

Zillow's data echoes moving and relocation trends within America. Business Insider's Andy Kiersz reported that, according to a 2019 report from the US Census Bureau, counties in the South and West had more people move in than move out in 2018.

Zillow's data represents the increase of median one-bedroom rent prices from May 2018 to May 2019. Zillow noted that multiple factors affect the cities' median prices, including the development of new apartments or the rapid listing of multiple luxury apartments in a short period of time.

Keep reading to see the 25 cities where the median rent is increasing the fastest, ranked from the lowest to the highest rate of increase. Business Insider obtained the estimated population of each city from World Population Review

SEE ALSO: Here's how much it costs to rent a one-bedroom apartment in 15 major US cities

DON'T MISS: Here's how much money you need to have saved if you want to get married and buy a home in the same year in 25 cities

Lexington: The median rent for a one-bedroom apartment in Lexington, Kentucky increased by 7.8%.

The median rent for a one-bedroom apartment in Lexington, Kentucky is $820, up $59 from last year's median of $761.

The city's estimated population is 323,780.



Orlando: The median rent for a one-bedroom apartment in Orlando, Florida increased by 8.4%.

The median rent for a one-bedroom apartment in Orlando, Florida is $1,339, up $104 from last year's median of $1,235.

The city's estimated population is 285,713.



Tucson: The median rent for a one-bedroom apartment in Tucson, Arizona increased by 8.8%.

The median rent for a one-bedroom apartment in Tucson, Arizona is $680, up $55 from last year's median of $625.

Tucson is about an hour and 40 minutes away from Phoenix. The city's estimated population is 545,975.



Mesa: The median rent for a one-bedroom apartment in Mesa, Arizona increased by 9.5%.

The median rent for a one-bedroom apartment in Mesa, Arizona is $989, up $85 from last year's median of $904.

Mesa is about 25 minutes away from Phoenix by car. The city's estimated population is 508,958.



New Orleans: The median rent for a one-bedroom apartment in New Orleans, Louisiana increased by 9.9%.

The median rent for a one-bedroom apartment in New Orleans, Louisiana is $1,404, up $126 from last year's median of $1,278.

The city's estimated population is 391,006.



Boise: The median rent for a one-bedroom apartment in Boise, Idaho increased by 9.9%.

The median rent for a one-bedroom apartment in Boise, Idaho is $1,065, up $96 from last year's median of $969.

The city's estimated population is 228,790.



Fort Worth: The median rent for a one-bedroom apartment in Fort Worth, Texas increased by 10.2%.

The median rent for a one-bedroom apartment in Fort Worth, Texas is $1,344, up $124 from last year's median of $1,220.

Fort Worth is about 40 minutes away from Dallas by car. The city's estimated population is 895,008.



Indianapolis: The median rent for a one-bedroom apartment in Indianapolis, Indiana increased by 10.8%.

The median rent for a one-bedroom apartment in Indianapolis, Indiana is $859, up $84 from last year's median of $775.

The city's estimated population is 867,125.



Marietta: The median rent for a one-bedroom apartment in Marietta, Georgia increased by 11.6%.

The median rent for a one-bedroom apartment in Marietta, Georgia is $1,079, up $112 from last year's median of $967.

Marietta is about 45 minutes away from Atlanta by car. The city's estimated population is 61,048.



Durham: The median rent for a one-bedroom apartment in Durham, North Carolina increased by 11.8%.

The median rent for a one-bedroom apartment in Durham, North Carolina is $1,162, up $123 from last year's median of $1,039. 

Durham is about 40 minutes away from Raleigh by car. The city's estimated population is 469,298.



Los Angeles: The median rent for a one-bedroom apartment in Los Angeles, California increased by 11.9%.

The median rent for a one-bedroom apartment in Los Angeles, California is $2,362, up $252 from last year's median of $2,110.

The city's estimated population is 3,990,456.



Austin: The median rent for a one-bedroom apartment in Austin, Texas increased by 12.2%.

The median rent for a one-bedroom apartment in Austin, Texas is $1,352, up $146 from last year's median of $1,206.

The city's estimated population is 964,254.



Oklahoma City: The median rent for a one-bedroom apartment in Oklahoma City, Oklahoma increased by 13.6%.

The median rent for a one-bedroom apartment in Oklahoma City, Oklahoma is $795, up $95 from last year's median of $700.

The city's estimated population is 649,021.



Chandler: The median rent for a one-bedroom apartment in Chandler, Arizona increased by 15%.

As of May 2019, the median rent for a one-bedroom apartment in Chandler, Arizona is $1,227, up $160 from last year's median of $1,067.

Chandler is about 30 minutes away from Phoenix by car. The city's estimated population is 257,165.



Riverside: The median rent for a one-bedroom apartment in Riverside, California increased by 15%.

The median rent for a one-bedroom apartment in Riverside, California is $1,560, up $204 from last year's median of $1,356.

Riverside is about an hour and 30 minutes away from Los Angeles by car. The city's estimated population is 330,063.



El Paso: The median rent for a one-bedroom apartment in El Paso, Texas increased by 15.8%.

The median rent for a one-bedroom apartment in El Paso, Texas is $689, up $94 from last year's median of $595.

El Paso is located in the southwestern corner of Texas, about eight hours away from Austin by car. The city's estimated population is 682,669.



Tulsa: The median rent for a one-bedroom apartment in Tulsa, Oklahoma increased by 16.8%.

The median rent for a one-bedroom apartment in Tulsa, Oklahoma is $695, up $100 from last year's median of $595.

Tulsa is about an hour and a half away from Oklahoma City by car. The city's estimated population is 400,669.



Scottsdale: The median rent for a one-bedroom apartment in Scottsdale, Arizona increased by 18.4%.

The median rent for a one-bedroom apartment in Scottsdale, Arizona is $1,450, up $225 from last year's median of $1,225.

Scottsdale is about 25 minutes away from Phoenix by car. The city's estimated population is 255,310.



Phoenix: The median rent for a one-bedroom apartment in Phoenix, Arizona increased by 19.5%.

The median rent for a one-bedroom apartment in Phoenix, Arizona is $1,171, up $191 from last year's median of $980.

The city's estimated population is 1,660,272.



Stockton: The median rent for a one-bedroom apartment in Stockton, California increased by 22.2%.

The median rent for a one-bedroom apartment in Stockton, California is $1,097, up $199 from last year's median of $898.

Stockton is about an hour away from Sacramento by car. The city's estimated population is 311,178.



Newark: The median rent for a one-bedroom apartment in Newark, New Jersey increased by 28.6%.

The median rent for a one-bedroom apartment in Newark, New Jersey is $1,350 up $300 from last year's median of $1,050.

The city's estimated population is 282,090.



Mobile: The median rent for a one-bedroom apartment in Mobile, Alabama increased by 29.4%.

The median rent for a one-bedroom apartment in Mobile, Alabama is $760, up $172 from last year's median of $588.

Mobile is about two hours and 30 minutes away from Montgomery by car. The city's estimated population is 189,572.



Fresno: The median rent for a one-bedroom apartment in Fresno, California increased by 30.6%.

The median rent for a one-bedroom apartment in Fresno, California is $908, up $213 from last year's median of $695.

Fresno is about three hours away from Sacramento by car. The city's estimated population is 530,093.



Oakland: The median rent for a one-bedroom apartment in Oakland, California increased by 34.6%.

The median rent for a one-bedroom apartment in Oakland, California is $3,063, up $788 from last year's median of $2,275.

The city's estimated population is 429,082.



Fort Wayne: The median rent for a one-bedroom apartment in Fort Wayne, Indiana increased by 38.8%.

The median rent for a one-bedroom apartment in Fort Wayne, Indiana is $694, up $194 from last year's median of $500.

Fort Wayne is about two hours away from Indianapolis by car. The city's estimated population is 267,633.



Tesla's Model 3 has been the best-selling EV in the US this year by a huge margin (TSLA)

Thu, 07/04/2019 - 9:44am  |  Clusterstock

  • Tesla's Model 3 sedan was the best-selling electric vehicle in the US during the first half of 2019, according to estimates from the electric-vehicle website InsideEVs.
  • The website estimates that Tesla sold 67,650 Model 3s in the US through June, over seven times the sales generated by the next best-selling electric vehicle, Tesla's Model X SUV.
  • Tesla took three of the top five spots among fully electric vehicles (InsideEVs also estimates sales for plug-in hybrids), with the other two spots going to the Chevrolet Bolt EV and Nissan Leaf.
  • Visit Business Insider's homepage for more stories.

Tesla's Model 3 sedan was the best-selling electric vehicle in the US during the first half of this year, according to estimates from the electric-vehicle website InsideEVs.

The website estimated that Tesla sold 67,650 Model 3s in the US through June, over seven times the sales generated by the next best-selling electric vehicle, Tesla's Model X SUV. Tesla took three of the top five spots among fully-electric vehicles (InsideEVs also estimates sales for plug-in hybrids), with the other two going to the Chevrolet Bolt EV and Nissan Leaf.

Read more: It doesn't matter whether Tesla delivers 90,000 cars or 900,000 in the 2nd quarter — what's more important is whether Tesla goes mass-market or stays luxury

The estimates are based on factors like vehicle identification numbers and automaker sales data, though some are based more heavily on the judgement of InsideEVs' staff.

Two of the most high-profile electric vehicles that have launched in the past year, the Jaguar I-Pace and Audi e-tron SUVs, appear to be selling in relatively low numbers in the US. Around 1,073 I-Paces and 1,835 e-trons were sold in the US through June, InsideEVs estimated, though sales for the e-tron began in April.

These were the five best-selling electric vehicles in the US during the first half of this year, according to InsideEVs:

  • 1. Tesla Model 3: 67,650
  • 2. Tesla Model X: 9,000
  • 3. Chevrolet Bolt EV: 8,281
  • 4. Tesla Model S: 7,225
  • 5. Nissan Leaf: 6,008.

Tesla reported better-than-expected global sales for the second quarter on Tuesday, with 95,200 vehicles delivered. That exceeded the electric-car maker's previous quarterly delivery record of 90,700 vehicles, set during the fourth quarter of 2018, and represented a major increase over the first quarter of this year, when Tesla delivered 63,000 vehicles.

Have you worked for Tesla? Do you have a story to share? Contact this reporter at mmatousek@businessinsider.com.

SEE ALSO: Elon Musk is worth about $22 billion and has never taken a paycheck from Tesla — here's how the notorious workaholic and father of 5 makes and spends his fortune

Join the conversation about this story »

NOW WATCH: A professional drifter explains the physics behind drifting

I get hundreds, or thousands, of dollars in benefits from my travel credit cards every year, and there are 3 kinds of perks more valuable than the rest

Thu, 07/04/2019 - 9:30am  |  Clusterstock

  • Travel rewards credit cards allow users to earn miles and points with regular purchases, but the card's benefits can be very valuable as well.
  • In some cases, it may be worth paying a higher annual fee to get access to premium benefits like airport lounges or status matching.
  • Every card and issuer offers its own unique combination of purchase, travel, and other benefits. It's up to you to decide which you value most when picking your credit cards.
  • Try the free CardMatch tool at CreditCards.com to find the right credit card with the perks you value most »

Some people only look at the sign-up bonus or miles and points rewards when picking a credit card, but they might be missing out on some important features they should consider. In addition to miles and points, credit cards can offer a slew of benefits that can save you money, improve your travel, and unlock experiences you couldn't access with cash or a debit card.

As someone who has 14 cards and looks at credit card features seemingly every day, I look out for certain key features when choosing cards of my own. From my daily cards in my wallet to the occasional-use cards I keep locked away at home, here are some benefits I look for when choosing a credit card.

Purchase protections

When you buy an item in-store or online, you probably plan for it to work out well and meet your needs. But sometimes, a product doesn't work out as planned. I've had more than a few items prove sour from the start or go bad far sooner than I would have expected.

For example, I bought a robot vacuum last year on Amazon that stopped working just a few weeks after the warranty expired. If I had used debit for that purchase, I would be out of luck and have to pay for repair or replacement out of pocket. I'm glad I used a credit card with extended warranty protection that will pick up the cost instead.

Here are some of the most important purchase benefits I look for in a credit card:

  • Purchase protection: This benefit acts as insurance for new purchases, typically for 90 days or 120 days after buying something new and paying with the card. If you buy a new cell phone and the screen cracks four weeks later, you'll be glad you have this backup plan.
  • Extended warranty: This protection usually adds a year of warranty protection on top of what the manufacturer provides where eligible. See the vacuum situation above for why I'm glad I have it.
  • Price protection: It's so frustrating to buy something and see the price drop just a few weeks later. This benefit will refund the difference if the retailer won't.
  • Return protection: Some stores have really bad return policies. If you buy something that doesn't work out and the store won't take it back, this benefit may reimburse you for the cost.
Travel insurance

While I have had Southwest and American Airlines hold planes due to tight connections and delays, it doesn't always work out that way. For instance, United "doesn't hold the plane for anyone," according to the company's CEO. I felt the wrath of that experience five years ago and spent a night in San Francisco, at my expense. Like several others who ran to make a connection for the last flight of the night to Santa Barbara from SFO, I made it in time to watch the plane sit there for ten minutes before backing out and flying away.

The free CardMatch tool at CreditCards.com can help you find the right credit card with the perks you want »

Had I used my primary travel credit card I use today (the Chase Sapphire Reserve), my card would have paid for the San Francisco hotel nigh. Here are some favorite benefits that can save time, money, and hassle when away from home.

  • Rental car insurance: One thing I know is going to happen on trips from time to time is car rentals. With this benefit, you can sign the waiver and skip paying for the add-on price of insurance through the rental company.
  • Trip cancellation insurance: If a member of your family ends up in the hospital, you don't want to get stuck paying for that trip you had planned as well. If you pay for a trip with a card that has this benefit, you'll get your money back if you can't go on your trip for a covered reason.
  • Trip interruption insurance: See the story above about the night in San Francisco to see when this would have helped me. If a trip is interrupted due to weather or another covered reason, your card will pay for the cost of getting back on track.
  • Late and lost baggage coverage: Most frequent travelers have a late or lost luggage story. This benefit will replace lost luggage and items or pay for some new clothes and toiletries if your bags are delayed.
Premium travel benefits

If you want to take your travel experience to the next level, try out an airport lounge. These premium lounges offer clean, comfortable places away from the hustle bustle of the terminal to get complimentary drinks and food, fast wifi, and much better bathrooms.

Depending on the airline and airports you use most, one card may be better than another. I get in with my Priority Pass Select membership from my Chase Sapphire Reserve card. Here are some perks you may enjoy.

  • Lounge access: Airport lounges are pretty awesome. With the right credit card, your membership is covered.
  • Status: The Platinum Card® from American Express is an example of a card that gives you gold-level hotel status on multiple brands. That can include hotel executive lounge access, faster internet, room upgrades, and more.
  • Global Entry / TSA PreCheck credit: Global Entry and TSA PreCheck help you skip lines and get through security and customs faster at participating airports. Some credit cards will pay for your membership fee through a statement credit.
Other useful perks

Some cards give you exclusive access to presales, concierge services, and other perks. I don't use these that often, but on occasion, they come in handy.

For my anniversary, I bought presale tickets to the upcoming Rolling Stones tour using an American Express presale. Capital One cardholders have exclusive ticket access for the upcoming New York Food & Wine Festival and iHeart Radio Festival. If you are a foodie or music aficionado, getting first access to tickets could be the difference between going and not making it in the door.

While I don't consider these benefits make or break, I'm glad to know I have them when I'm looking for an exclusive experience at a restaurant or tickets to a favorite show.

Don't ignore your benefits

A huge number of people get credit cards but never bother to look through the benefits. Don't be that person! Instead, put your card to good use to maximize the value you get in return. I get hundreds if not thousands of dollars from my card's benefits every year. With the right card and knowledge of how it works, you can do the same.

Try the free CardMatch tool at CreditCards.com to find the right credit card with the perks you value most »

Join the conversation about this story »

NOW WATCH: The incredible story behind Slack, the app that's taken over offices everywhere

POWER PLAYERS: Meet the 9 executives helping Silicon Valley's biggest corporate venture capital funds pump billions into tech startups

Thu, 07/04/2019 - 9:20am  |  Clusterstock

  • Silicon Valley tech companies are some of the biggest startup investors through corporate venture funds run independently of the core business.
  • Some of the biggest names in tech have pursued corporate venture investing, including Google, Salesforce, Intel, Microsoft, and Dell.
  • According to a PitchBook report, Intel, Google, and Salesforce have the most active corporate venture funds based on 2018 data.
  • Meet the executives running the funds.
  • Click here for more BI Prime stories.

Silicon Valley’s tech giants are placing their bets on the next generation of startups.

Instead of relying solely on a traditional mergers and acquisitions strategy, some of the biggest names in tech are sinking their own money into hot startups through corporate venture capital.

Here’s how it works: a corporation, public or private, can set up a separate entity to invest the company’s own money into private companies the same way any other investor would. The entity needs to be entirely separate, from leadership teams to workflow and information access, to the parent corporation to qualify for special exemptions reserved for venture investors. 

Read More: Private venture-backed startups like Slack and Airbnb are investing in other startups. Here’s where their money is going.

Many tech companies invest in what they see as strategic partnerships with smaller companies in similar or related fields so that they have access to innovative technology, but each fund, and each executive running the fund, is different. But according to a recent PitchBook report, Intel, Google, and Salesforce have the most active corporate venture funds based across industries in 2018.

Meet the executives running the corporate funds pumping billions of dollars into the tech startup scene.

SEE ALSO: This LA investment firm backed Ring before Amazon acquired it, and it just made several new hires to change early-stage tech startups

Wendell Brooks, President at Intel Capital

Brooks joined Intel in 2014 and was tapped to lead Intel Capital in 2017. Before joining the legacy tech company, Brooks spent about 21 years in investment banking for Allen & Company and Citigroup.

Brooks has led some of Intel's biggest bets, including semiconductor design startup Movellus, medical device manufacturer EchoPixel, and electric plane maker Joby Aviation. His largest investment was in Horizon Robotics $100 million Series A in 2017.



David Krane, CEO & managing partner at GV (formerly Google Ventures)

Krane is a 20-year veteran of the search giant, where he originally joined as global head of communications and public affairs. He started working at Google Ventures, which later became GV, in 2010 as a general partner and has since worked up to running GV's global operations.

Krane is mostly overseeing strategy at GV, but has also had a hand in the fund's biggest consumer investments such as newly-public rideshare company Uber, startup investing platform CircleUp, and Nest, which was acquired by Google.



Anna Patterson, Managing Partner at Google's Gradient Ventures

Patterson joined Google as an engineer where she worked on everything from scaling the mobile operating system Android, launching the Google Play store, inventing Google's search serving system, and helping lead search ranking efforts through Google's IPO. She moved on to leading the company's AI engineering efforts before creating Gradient Ventures, Google's AI-focused fund.

Since founding Gradient Ventures within Google, Patterson has led investments in computer vision software maker Labelbox, developer management tool PullRequest, and open source platform Algorithmia. Her largest investment to date was in test.ai's $11 million Series A in 2018.



David Lawee, Partner at CapitalG (Formerly Google Capital)

Lawee started his career at McKinsey & Company as an engagement manager after graduating from the University of Chicago's Booth School of Business. He created his own venture firm in 1997 and also tried his hand at entrepreneurship before joining Google as a marketing vice president in 2005. He took over CapitalG, formerly Google Capital, in 2013. 

Lawee's biggest bets have been in consumer and fintech companies, such as survey software maker SurveyMonkey, fintech startup LendingClub, and credit tracking company Credit Karma. His biggest investment was in ridesharing company Lyft's 2017 $1 billion Series H.



Matt Garratt, Managing Partner at Salesforce Ventures

Garratt joined Salesforce from notable Silicon Valley venture firm Battery Ventures in 2013. By 2014, he had moved on from corporate development to helping run Salesforce Ventures, one of the most active corporate venture funds around. As the managing partner, Garratt oversees the fund's massive capital reserves and helps execute the enterprise investment strategy of one of tech's biggest companies.

Garratt has remained in a largely managerial role at Salesforce Ventures, but has led investments in startup data tracker Crunchbase and enterprise employee infrastructure company Simpplr, his largest investment to date.



Wendy Lung, Managing Director of IBM Ventures

Lung is something of an IBM lifer, having joined the organization 30 years ago as a sales representative. She has since worked through IBM's marketing, sales, and business development arms before moving to the firm's corporate venture fund. As head of IBM Ventures, she has helped create startup accelerator and entrepreneurship mentorship programs around the globe.

Since taking on a leadership role with IBM Ventures, Lung has led investments in semiconductor manufacturer VeriSilicon, engineering accelerator Hack/reduce, consumer health software maker Welltok, and platform integration tool IFFTT



Paul Bernard, Director for Amazon's Alexa Fund

Bernard joined Amazon in 2013 to lead corporate development for Kindle and other digital services for the e-commerce giant. He moved to Alexa Fund, the company's AI and voice software focused fund, in 2015. Before moving to Seattle, Bernard spent more than 12 years running business development for mobile phone maker Nokia in Sunnyvale, California.

Bernard has led investments in consumer health company Aaptiv, smart thermostat maker Ecobee, and voice software testing startup Pulse Labs. His largest investment since joining Alexa Fund was in Tact.ai's $27 million Series C in 2018.



Nagraj Kashyap, Global Head of Microsoft's M12 (Microsoft)

Kashyap has spent the last 20 years in corporate venture capital. He started his career with Qualcomm Ventures before heading to Microsoft Ventures, now called M12 (so named because there are 12 letters in the word "entrepreneur"). He is on nine different startup boards as a member or observer and focuses primarily on future of work and AI-enabled workflow automation technology.

He has led investments in workforce management tool Workboard, RNA therapeutics startup Envisagenics, and identity management tool LoginRadius for M12.



Quinn Li, Global Head of Qualcomm Ventures

Li has overseen Qualcomm's $1B global venture portfolio for the last nine months after moving up the ranks at the San Diego-based corporate venture fund. He is a board observer for newly public video conferencing startup Zoom, in which Qualcomm was a major investor. Li has been at Qualcomm for 14 years in various roles, and was a product specialist at IBM, Broadcom, and Lucent Technologies earlier in his career.

Although he oversees Qualcomm Venture's entire portfolio, Li personally led investments in mobile marketing software maker Verve, geolocation-based parking tool Streetline, and networking software creator PowerCloud Systems.



I paid off more than $10,000 of credit card debt in 3 years, and using balance transfer cards saved me another $3,000 in interest

Thu, 07/04/2019 - 8:45am  |  Clusterstock

When I got my first "big girl" job out of college, I made the quintessentially millennial mistake of thinking my fairly average salary could buy me anything I wanted, just because it wasn't minimum wage. 

As a newly certified grownup, I assumed it was only normal to sign a lease on a house with a big backyard, fill it with cute mid-range furniture and a whole wardrobe of new work clothes, and start going to bottomless brunch on a weekly basis.

A few years later, I was facing around $10,000 in credit card debt. I wanted to quit my job and move, but I knew I wouldn't be able to do that with five figures of credit card debt breathing down my neck, so I started looking for ways to pay off credit card debt quickly. Some casual internet research led me to the answer I needed: balance transfer credit cards.

How I chose a balance transfer credit card

Balance transfer credit cards generally offer an introductory 0% APR for a set period of time, and often no fee for transferring your balance on another card to this card instead. Then, you have that introductory period to pay off your balance without it earning any more interest, making the balance transfer card an option for people trying to dig out from underneath credit card debt.

I went with the Chase Slate, which offered 0% interest on balance transfers for the first 15 months (17.24% to 25.99% variable APR after). There are balance transfer credit cards out there with a longer introductory period, but I chose the Chase Slate because it came with a $0 balance transfer fee for the first 60 days, although the go-to balance transfer fee on the card is 5% of the amount transferred, with a minimum of $5.

Doing a balance transfer with the Chase Slate credit card

I was lucky enough to get approved for the card and offered a credit limit of $7,000, which would cover most of my debt. My credit score at the time was around 700, probably due to the fact that my debt-to-credit ratio was still pretty low. Also, I'd never missed a monthly payment. 

I transferred $7,000 of my debt to my new Chase Slate for free and left the remaining $3,000 on my credit union credit card, the one of my cards with the lowest interest rate.

With 15 months to pay off my balance before my interest rate shot up to nearly 20%, I calculated that I'd have to make monthly payments of at least $467 to pay off the card in time, along with paying the minimum each month on my credit union credit card.

I started with monthly payments of $250 on my Chase Slate and figured I could increase them as I cut costs — but I never did. So as my 15 months came to a close, I still had a balance of about $3,000 on my Chase Slate, plus another $2,000 on my credit union credit card. 

Doing a second balance transfer with the Citi Simplicity credit card

Luckily, I was approved for a second balance transfer credit card. This time I went with the Citi Simplicity because it came with the longest introductory period — 21 months. Unfortunately, I'd never had a credit card with Citi before, so they only approved me for a $2,700 credit limit, and I also had to pay a 3% balance transfer fee. I transferred the $2,700 from my Chase Slate and let them charge me interest on the remaining $300 before I paid it off the next month. My credit union credit card still had a $2,000 balance.

This time I committed to paying off the balance on time. I did the math and set the monthly payments on my Citi Simplicity and my credit union credit card on autopay.

Twenty-one months later, I was officially debt-free.

I made mistakes but still saved $3,000

I made a few mistakes — namely, not sticking to a plan to pay off my debt, and assuming I would be approved for a second balance transfer card with an adequate credit limit. 

That being said, I got $10,000 worth of credit card debt paid off in three years, and I only had to pay $81 in balance transfer fees and just over $400 in interest, mostly on my credit union credit card. If I hadn't done a balance transfer at all, I would have spent over $3,000 on interest fees.

I never closed my balance transfer credit cards because keeping them open with $0 balances helps my credit score, although Chase eventually closed my Slate due to inactivity. More importantly, my credit score is inching its way toward 800, and I've stayed debt-free ever since.

Try the free CardMatch tool at CreditCards.com to find the right credit card to meet your goals »

Join the conversation about this story »

NOW WATCH: The US women's national team dominates soccer, but here's why the US men's team sucks

William Hill to close 700 betting shops risking 4,500 jobs across the UK

Thu, 07/04/2019 - 7:35am  |  Clusterstock

  • William Hill to close 700 stores, risking 4,500 jobs in the United Kingdom.
  • The announcement comes after the UK government slashed the maximum stake on Fixed Odds Betting Terminals to £2.
  • The terminals, known as the "crack cocaine" of gambling, had led to an explosion of betting shops on British high streets.
  • Campaigners welcomed the closures, while unions called for jobs to be protected.

LONDON — High Street bookmakers William Hill is set to close 700 of its shops, putting 4,500 jobs at risk, following the government's decision to reduce the spread of Fixed Odds Betting terminals.

Theresa May's government agreed in April to reduce the maximum stake on the terminals, known by critics as the "crack cocaine" of gambling, to £2.

The popularity of the terminals with gamblers had led to a big increase in betting shops on high streets across the United Kingdom, with many stores reportedly relying on the terminals for a majority of their revenue.

However, with an original maximum stake of £100, gamblers were able to quickly lose large amounts of money, with younger gamblers most affected.

Following the decision to reduce the stake on the machines, William Hill reported a "significant fall" in revenues, leading to today's decision.

"The group will look to apply voluntary redundancy and redeployment measures extensively and will be providing support to all colleagues throughout the process," a statement by the company said.

Betting shop workers' union Community described the decision as "devastating news" for employees at William Hill.

"The government also has a role to play and must look at what support they can offer to workers whose jobs are threatened as a consequence of changes to the law around FOBTs," Community operations director Tom Blenkinsop said.

"Betting shops provide an important source of local employment and many of our members have served the company loyally for years. Workers don't deserve to be the victims of the changes happening in the industry as a result of either government policy or the significant shift towards online gambling."

However, campaigners welcomed the decision.

"These jobs were inevitably going to go and at least represent a decline in the misery of betting on the High Street," Adam Bradford, founder of the Safer Online Gambling Group, said.

"Perhaps William Hill can deploy its staff into treating addicts and supporting those who are vulnerable across their other betting outlets."

SEE ALSO: Support for Jeremy Corbyn's Labour plummets to lowest level in polling history

Join the conversation about this story »

NOW WATCH: YouTube is in dangerous territory after not removing a video that ridiculed a Vox producer for being gay

Princess Haya has hired Prince William and Harry's lawyer to fight her divorce from the emir of Dubai, and she's an expert in royal separations

Thu, 07/04/2019 - 7:17am  |  Clusterstock

  • Princess Haya has hired a lawyer to British royalty to represent her in her divorce from the emir and sheikh of Dubai, a source told Business Insider.
  • Princess Haya fled to London in June, reportedly after learning chilling details about the failed escape of Sheikha Latifa, one of Sheikh Mohammed bin Rashid al-Maktoum's 23 children.
  • She is now divorcing the sheikh and has hired Baroness Shackleton of Belgravia from the law firm Payne Hicks Beach to advocate for her. 
  • Shackleton represented Prince Charles during his divorce from Princess Diana Spencer in 1996 and is now a solicitor to Prince William and Prince Harry.
  • Lady Helen Ward, from the law firm Stewart's, will represent Sheikh Mohammed, legal sources told Business Insider.
  • Visit INSIDER'S homepage for more stories.

Princess Haya of Jordan has enlisted the expertise of Baroness Shackleton, a lawyer frequently used by the British royal family, to litigate divorce proceedings against her husband, the emir of Dubai, a colleague for the lawyer told Business Insider.

Princess Haya fled to London this month. According to the BBC, she left after learning worrying details of the 2018 disappearance of  Sheikha Latifa, one of her husband's, Emir Sheikh Mohammed bin Rashid al-Maktoum, 23 children.

She is now divorcing him at the High Court in London. The BBC, citing sources close to Princess Haya, said she is "afraid for her life."

David Haigh, a lawyer for Sheikha Latifa, told Business Insider that Princess Haya has enlisted Shackleton to handle the case. She is a solicitor to Prince Harry and Prince William and has substantial experience in high-stakes divorce cases.

London's The Times also reported Shackleton's involvement, citing unnamed "legal sources."

Her former clients include Prince Charles, in his 1996 divorce of Princess Diana, and Paul McCartney, in his 2008 divorce of Heather Mills.

Shackleton has yet to respond to a request for comment from Business Insider.

A source close to Sheikh Mohammed told Business Insider that the divorce lawyer Lady Helen Ward, of the firm Stewart's, would represent the sheikh during legal proceedings.

The case will be heard by Justice Moor at the High Court, which sits at London's Royal Courts of Justice. Hearings are scheduled for July 30 and 31.

According to a Wednesday report by MailOnline, which cited sources close to Princess Haya, the prompt for her departure from Dubai was finding out that Sheikha Latifa tried to run away.

The outlet said Sheikh Mohammed had told Princess Haya that Sheikha Latifa was kidnapped as part of an extortion attempt, rather than fleeing of her own free will.

A BBC documentary last year detailed how Sheikha Latifa spent seven years planning the escape.

Read more: Dubai held a 'gender balance' awards, and every single winner is a man

The documentary details how Emirati commandos caught up with Princess Haya just off the coast of Goa, India, in April, two weeks after she fled.

She was returned to Dubai and has not been heard from in public since. 

In December, the Emirati Embassy in London said in a statement that she was alive and "safe in Dubai."

Before her escape, Sheikha Latifa made a video to be released if her escape failed. In it, Sheikha Latifa said she was fleeing physical and psychological abuse at the hands of her father. 

Haigh, the lawyer for Sheikha Latifa, told Business Insider that Princess Haya's lawsuit would draw attention back onto the human-rights abuses in the United Arab Emirates.

"It's good news for Latifa, as it's thrown what happened to her into a court which isn't corrupt," he said. "That's good news for anyone who has been abused in the UAE."

Shackleton represented Prince Charles during his split from Princess Diana in 1996 and represented Prince Andrew, Duke of York, during his divorce with Sarah, Duchess of York, the same year.

She also represented the Beatles star Paul McCartney as he divorced Heather Mills in 2008. 

Sheikh Mohammed, also an amateur poet, released a mysterious verse this week that appears to allude to Princess Haya's escape to London.

A line in "Affection in Your Eyes" reads: "We have an ailment that no medicine can cure / No experts in herbs can remedy this."

Princess Haya is also suing for custody of the children she shares with Sheikh Mohammed: Zayed, 7, and daughter Al Jalila, 11, Time magazine reported.

Another of his daughters, Sheikha Shamsa, fled the family's English country estate in a Range Rover in 2000 when she was 18, her friends told The Guardian. She was caught and sent to Dubai. 

Radha Stirling, the CEO of Detained in Dubai, an advocacy group campaigning for Sheikha Latifa, said in a statement on Monday: "Princess Haya has every reason to fear the consequences if she were to be sent back to Dubai. She surely knows, as Latifa knew, that asylum provides her the only safe route out of the royal palace."

Stirling added: "If she was abused, she could not go to the police; if she wanted a divorce, she could not go to the courts."

The Emirati embassy in London told Business Insider: "This is a private family matter and not one which the UAE government would involve itself in or comment on."

Join the conversation about this story »

NOW WATCH: YouTube is in dangerous territory after not removing a video that ridiculed a Vox producer for being gay

Markets Live: Thursday, 4th July 2019

Thu, 07/04/2019 - 6:03am  |  FT Alphaville

Live markets commentary from FT.com

Continue reading: Markets Live: Thursday, 4th July 2019

We drove a stylish $273,244 Aston Martin DB11 Volante convertible to see if it's worth the massive price — here's the verdict

Wed, 07/03/2019 - 8:23pm  |  Clusterstock

A few years ago, we got a look at the power, beauty, and soul of the stunning new Aston Martin DB11, in coupé form. Price tag: $254,084.

Last year, we checked out the drop-top version — the Aston Martin DB11 Volante. Price tag: $273,244.

OK, so this much power, and soul doesn't come cheap. But then again, if you have James Bond aspirations, you're talking about Tom Ford suits, good scotch, and the best Champagne. The lifestyle has some costs — but living well, as it's been said, is the best revenge.

I'm a massive Aston Martin fan. The DB9 is one of my all-time favorite cars, and while the DB11 we sampled last year is burlier than its forebears, it continues the tradition of Astons being the stylish, thinking-person's muscle car. That isn't all show, either. Aston Martin competes in high-level endurance racing worldwide, including the 24 Hours of Le Mans in France (the race car is derived from the DB11's stablemate, the Vantage).

But here's the cool thing about Aston's grand tourers: They're fast, but they don't need to be driven to the edge. You can thrum along at 40 mph and feel like the slickest, smoothest cat in town. Sure, you'll want to dress the part. Astons are so suave that you can't get away with jeans and a t-shirt. Believe me, I've tried. And failed.

Aston was kind enough to let us borrow the 2019 DB11 Volante for a few days. Our coupé came with a stately Magnetic Silver paint job. The Volante's was a slightly flashier "Pearl Blonde," and the exquisite leather interior was two-tone "Blue Haze" and "Coral Sand." So the Volante wasn't exactly holding back.

Here's how it all went down.

Photos by Hollis Johnson.

SEE ALSO: We drove a $150,000 Porsche Panamera Turbo and an $86,000 Cadillac CTS-V to see which mega-sedan was our favorite — here's the verdict

Behold: the glorious beauty of the DB11. We weren't sure about the Pearl Blonde paint job, especially with the blue top, but in about 15 minutes I was loving it. The weather in New York City was ideal for a convertible.

I never get tired of looking at an Aston.

Even from a distance, the DB11 Volante just pops.

The shape is classic GT, and although it's broken slightly by the convertible top, the sinuous, athletic lines and flowing curves of the Aston are unmistakable. The entire design fits together like a muscular animal drawn from nature.

Pure sculpture: long, low, and wide. There's just enough exterior detail — vents and scoops and cuts-ins — to keep matters lively.

With that much hood up front, the risk for the DB11 Volante is that it would fall out of proportion. But it doesn't. The bold read haunches keep the design in balance.

The rear is stunning — an achievement, given that the back end has to accommodate the top when retracted. Note how the tail lights and headlamps are proportional in terms of graphic mass without resembling each other too much.

There's also some tech back there.

"One of the major triumphs of the DB11's design is the new AeroBlade system, which creates a virtual spoiler using jets of air directed through discrete ducts located on the decklid of the car," Business Insider's Ben Zhang noted in his review of the DB11 coupé last year.

"This allows Aston to deliver great downforce without the need for a large and unsightly spoiler. There is a small retractable spoiler, but that's only deployed at high speed."

The Volante alters the design a bit, due to the lack of C-pillars and the convertible roof, but it retains the spoiler.



The top retracts in about 15 seconds.

And I'm ready for some open-air motoring!

Do you agree that the DB11 Volante makes just as stunning an impression with the top dropped? To be honest, I think it looks sharper — and better than the coupé!

The forged alloy wheels will run you $5,400 extra. And the brake calipers? $1,600. In total, our tester came with just under $60,000 in options.

In an era of brash, oversize badges, Aston still whispers. Because it can.

Let's slip inside.

The door sill plaques reminds you that the DB11 is England-made. Well, 66% anyway. The engine and transmission are German, from Mercedes-AMG.

Mercedes owns 5% of Aston, which is small, private carmaker in a world of big conglomerates. The company brings in only about $1 billion a year and can't push nearly as hard as larger concerns, so it has to join up with others to make a go of it. In 2017, Aston sold 5,100 vehicles.



Oh my. I mean, c'mon. You're encased in luxury. Having a bad day? Then just go sit in your Aston Martin DB11 Volante for a few minutes to decompress, cheer up, be pampered.

The view from the modest rear seats. Yes, the blue gives the DB11 Volante a bit of a Frank Sinatra edition vibe, but I dug it.

The Tamo Ash seat backs are gorgeous — and $2,000 extra.

It's extremely pleasant to be the driver of this thing.

Again, that subtle winged badge.

And a tachometer front and center on the instrument panel. As it should be.

Adult in the back seats? Maybe. More likely, pre-teens. Or just a $2,000 linen sportcoat and an Hermès handbag.

So discreet.

The seats and leather trim are "brogued," just as with fine benchmade shoes.

The DB11's interior is ultra-mega-premium and relatively uncluttered. The gearshifts are handled by buttons in the center stack, and 8-speed transmission can be manually operated using paddles behind the steering wheel.

The infotainment system is borrowed from Mercedes, operated via a touchpad between the seats. It generates no problems: audio, navigation, Bluetooth pairing, USB/AUX inputs — all check. If you need contemporary infotainment tech in your throwback GT car, you won't be disappointed.



These speakers rise from the dash. The Bang & Olufsen BeoSound audio system is an $8,300 options. It sounds pretty good, but to be honest I've never been blown away by the audio setups in any Aston. I think it has something to do with the snug design of the cockpits. Doesn't provide a great acoustic environment.

The truck is large enough to handle a few pieces of luggage — enough for a weekend getaway.

The key fob. My biggest complaint about the car. It's a lightweight piece of cheap plastic. Not a great place to cut corners, Aston!

In days of yore, a lovely crystal key had to be inserted in the dashboard to start the car. No more. Now we have a plastic fob and a push-button. Sigh ...



As much as the DB11 is about aesthetics, this is a sports car, so let's examine the Mercedes-AMG-sourced engine tucked beneath the hood.

That's a 4.0-liter twin-turbo V8, making 503 horsepower.

What, no V12? 

Right. As Ben Zhang noted when reviewing the DB11 coupé, pop the hood on that sucker and "you'll find a sublime 5.2 liter, twin-turbocharged V12."

That engine serves up 600-horsepower and a 3.9-second 0-60 mph sprint, with a 200 mph top speed.

The V8 can manage just 187 mph. But the 0-60 mph run happens just a whisker slower, in about 4 seconds.



It was inspected by one Joseph Rush. Nice work, Mr. Rush!

So what's the verdict?

Ben and I agreed that we like the Volante better than the coupé. Nothing wrong with the hardtop — a trained killer in a Savile Row suit, according to Ben— but it's sort of the same thing I feel about the V6 Jaguar F-Type versus the F-Type R. The bigger engine and more stonking power doesn't necessarily provide a superior driving experience. 

The V8 is a German motor, of course, and the V12 is Aston-made. But while a massive V12 looks good on paper, a V8 offers ample power and relieves Aston of the burden of dealing with regulatory hurdles associated with dinosaur propulsion. To a degree. We're still talking about just 20 mpg combined here.

The DB11 Volante doesn't feel lighter or friskier than the Coupé — it has that same extremely purposeful vibe, supremely confident going fast in a straight line accompanied by a throaty roar of combustion through the dual exhaust pipes, supremely confident diving into corners, supremely confident racing away from semis on the highway, supremely confident just cruising through the New Jersey suburbs (well, as supremely confident as a car can be in that environment). 

The Aston, then, is pretty much in its element no matter what the circumstances. This makes for an endlessly blissful experience, and it should, given the price tag. You very much get what you pay for. The old knockabout convertible being less thrilling to drive than hardtops doesn't apply. The Volante serves up a rush that's equal to the coupé, even with almost 100 less horsepower on tap.

So as much as I love the old DB9, I might have a new favorite Aston.

 



Gas and diesel prices rose at the worst possible time for drivers in the US and these states are being affected most

Wed, 07/03/2019 - 7:53pm  |  Clusterstock

  • Gas and diesel taxes went up in a handful of US states on July 1.
  • Those increases are happening in California, Connecticut, Illinois, Indiana, Maryland, Michigan, Montana, Nebraska, Ohio, Rhode Island, South Carolina, Tennessee, and Vermont.
  • There are various reasons for the hikes, depending on the state, but they are primarily meant to help fund maintenance and improvements for roads, bridges and other infrastructure around the country.
  • Visit Business Insider's homepage for more stories.

Gas and diesel taxes have risen in 12 states, most prominently in Illinois, Ohio, and California.

Connecticut, Indiana, Maryland, Michigan, Montana, Nebraska, Rhode Island, South Carolina, Tennessee, and Vermont have also implemented hikes. There are various reasons for the increases, depending on the state, but they are primarily meant to help fund maintenance and improvements for roads, bridges and other transportation infrastructure around the country.

For some states, the gas tax increase has been long delayed. Some states have postponed this increase for several years due to the political challenges, Carl Davis, a research director at the Institute of Taxation and Economic Policy, told Business Insider. Davis is an expert in transportation infrastructure funding.

"Lawmakers don't want to take a vote to raise the price of gas, but at the same time, drivers don't want to drive over an unsafe bridge or hit a pothole or be stuck in a traffic congestion," Davis said. "There are inevitable tradeoffs here, and navigating these tradeoffs can be tricky."

These are the states that have increased their gas tax rates:

California

California's gas tax increased by 5.6 cents per gallon to a total of 47.3 cents per gallon. This was the final increase from a 2017 bill that was created to help pay for infrastructure improvements. The gas tax rate will now be adjusted for inflation on an annual basis.



Connecticut

The tax rate on diesel fuel jumped 2.6 cents, bringing it to a total of 46.5 cents per gallon. This is still lower than the state's 2013 peak of 54.9 cents.



Illinois

The gas tax in Connecticut is up 19 cents, doubling the previous tax for a total of 38 cents per gallon. The diesel tax increased by 24 cents to nearly 46 cents per gallon.



Indiana

Gas taxes in the Hoosier State increased 0.5 cents per gallon, and diesel will increase by a penny per gallon.

According to the Institute on Taxation and Economic Policy, in Indiana, both of these taxes "are updated annually to keep pace with inflation and the rate of personal income growth in Indiana."



Maryland

Gas and diesel taxes increased 1.4 cents to a total of 36.7 cents per gallon. The change is due to a 2013 formula which increases the tax rate in accordance with inflation and fuel prices.



Michigan

The taxes increased by 0.1 cents for gas and 0.2 cents for diesel. The tax rates differ each month, depending on the price of fuel.



Montana

Gas taxes rose by 0.5 cents, while diesel rose by 0.2 cents. Both increases are the result of 2017 legislation that will spur incremental gas tax hikes through July 2022.



Nebraska

Tax rates for both gas and diesel rose by 0.1 cents.



Ohio

Gas taxes rose by 10.5 cents per gallon in Ohio, while diesel rose by 19 cents to a total of 47 cents per gallon.



Rhode Island

Drivers in Rhode Island got a one-cent tax increase on gas and diesel in the state, for a total tax of 34 cents per gallon. It's the first gas-tax hike since July 2015, the Institute on Taxation and Economic Policy said.



South Carolina

Taxes on gas and diesel rose by two cents per gallon on July 1. The increase is the third installment of a six-part series of tax hikes implemented in 2017.



Tennessee

The gas tax rose by one cent on July 1, while diesel rose by three cents.



Vermont

The gas tax in Vermont increased by 0.55 cents. The tax rate on diesel is unchanged.



Not even Walmart has enough cash available to compete with Amazon's e-commerce fulfillment empire, report says (AMZN, WMT)

Wed, 07/03/2019 - 6:09pm  |  Clusterstock

  • Walmart and Amazon are duking it out for domination in the American e-commerce industry.
  • A big new report from Recode today shows that Walmart's e-commerce losses are pushing past $1 billion.
  • One area in which Walmart is losing out to Amazon is its ability to build fulfillment centers to efficiently deliver your online orders, Recode said.
  • Both companies' financial statements confirm that Walmart doesn't have the cash flow of Amazon, a Business Insider analysis found.
  • Visit Business Insider's homepage for more stories.

Walmart became the largest retailer in part thanks to its logistics ingenuity — it's arguably one of the largest trucking companies in America, with drivers paid at least $87,500 from day one, and has a vast network of warehouses with ultra-high standards.

But Walmart's e-commerce push has been hamstrung in part because of its lack of e-commerce fulfillment centers, a comprehensive report from Recode's Jason Del Rey found on Wednesday.

Amazon has 110 fulfillment centers in the US to Walmart's 20, Recode reported. Building more of those fulfillment centers requires serious investment. Amazon's newest fulfillment center, which will open this month on the outskirts of New Haven, Connecticut, cost some $250 million to build.

Amazon did not respond to Business Insider's inquiry. Walmart said it was not commenting on the Recode report.

Read more: A key metric in FedEx's financial statements underscores why the shipping giant dropped Amazon as a customer

Logistics in general is pricey — Amazon said its push for one-day delivery would cost the company $800 million in investments this year. But Amazon can bankroll these pushes through Amazon Web Services and its ad business, according to Del Rey.

Walmart, on the other hand, doesn't have that abundant flow of cash, Recode reported. Sources told Recode that Walmart execs have agreed to expand its e-commerce warehouse footprint.

A Business Insider analysis of both companies' Securities and Exchange Commission filings bolsters that claim. Walmart's current ratio, which is a measure investors often use to see if a firm has enough cash to meet its short-term debts, has hovered around 0.75 this year and last year. Amazon's current ratio was 1.1 in 2019 and 2018.

Investors want to see a current ratio above 1.0. That shows that the company has more cash on hand than debts that need to be paid off from the past year. Below 1.0 shows that short-term liabilities outweigh assets.

Do you work in logistics and have a story to share with Business Insider? Email the reporter at rpremack@businessinsider.com.

Read the entire Recode article here »

SEE ALSO: Amazon Air is quietly expanding toward Asia's doorstep in its latest warning shot to FedEx and UPS

Join the conversation about this story »

NOW WATCH: Inside Roborace: the Formula One for self-driving cars

Tesla's record quarter calms fears about Model 3 demand, but there's a big question about whether the company hurt profits to boost sales (TSLA)

Wed, 07/03/2019 - 5:51pm  |  Clusterstock

Tesla delivered 95,200 vehicles between April and June, beating Wall Street estimates and setting a record for vehicle deliveries in one quarter.

The electric-car maker's second-quarter delivery numbers were subject to intense scrutiny, since deliveries fell 31% between the fourth quarter of 2018 and the first quarter of this year. Tesla blamed issues with delivery logistics and seasonal demand, but some argued that demand for the company's vehicles was lower than it had projected.

Read more: Tesla's stock is soaring after it reported record-setting vehicle deliveries last quarter

The delivery record suggests that there is still strong demand for the Model 3, which made up 81% of Tesla's second-quarter deliveries.

"Investors feared everyone that wanted an EV had already bought one and deliveries would continue to fall," Gene Munster, a managing partner at Loup Ventures, wrote in a note on Thursday. "Today's record-high Model 3 production and deliveries should largely put an end to those fears. It's clear that demand is strong and growing as they continue to enter new markets."

But the strong delivery numbers come with a question that will be answered when Tesla releases its second-quarter earnings: Did the company sacrifice profits to boost sales?

Since the end of the first quarter, Tesla has cut the price of its Model S sedan and Model X SUV while making Autopilot, a driver-assistance system whose basic features used to cost $3,000, standard on all of its vehicles.

"I think what everyone's now concerned about is, well, did you sacrifice profit for volume?" David Whiston, an automotive analyst at Morningstar, said.

Tesla raised $2.7 billion in May, but the company's ability to move toward consistent profits will become more important as it works on expensive projects with significant potential benefits, like building a factory in Shanghai — which will reduce import costs to China, the biggest auto market — and introducing the Model Y SUV and a pickup truck in the coming years, which will give Tesla access to segments of the auto market that have produced big profits.

"I don't think we should just assume everything's awesome and perfect now just because they had a record delivery quarter," Whiston said. "It's certainly good news, but again, it's one quarter."

Have you worked for Tesla? Do you have a story to share? Contact this reporter at mmatousek@businessinsider.com.

SEE ALSO: 18 controversies that have plagued Tesla

Join the conversation about this story »

NOW WATCH: Ford invested $500M into an electric vehicle startup. Here's how Rivian is doing exactly what Tesla isn't.



About Value News Network

Value is the only commonality in an increasingly complex, challenging and interdependent world.
Laurance Allen: Editor + Publisher

Connect with Us