On June 28 this year, Italian police arrested a silver-haired priest, Monsignor Nunzio Scarano, in Rome. The cleric, nicknamed Monsignor Cinquecento after the €500 bills he habitually carried around with him, was charged with fraud and corruption, together with a former secret service agent and a ­financial broker. All three were suspected of attempting to smuggle €20m by private plane across the border from Switzerland.

Prosecutors alleged that the priest, a former banker, was using the Institute for Religious Works ”“ the formal name for the Vatican’s bank ”“ to move money for businessmen based in the Naples region, widely regarded in Italy as a haven of organised crime. Worse still, Scarano (who, together with the other men, has denied any wrongdoing) had until only a month earlier been head of the accounting department at the Administration of the Patrimony of the Apostolic See, the treasury of the Vatican.

The arrest, and the headlines that screamed across the Italian press, was the latest shock for the Holy See….

Read it all (if necessary, another link may be found there).

As the Affordable Care Act’s deadline for getting health insurance approaches, 30% of U.S. adults still say that they, or a family member, have put off medical treatment in the past year because of the cost. This figure has been stable since 2005, but is higher than it was between 2001 and 2004.

Uninsured Americans are more than twice as likely as those who have Medicare, Medicaid, or private insurance to say they put off medical treatment. Fifty-nine percent of the uninsured have done so, compared with roughly one-quarter of those with Medicare or Medicaid (22%) or private health insurance (25%).

Read it all.

Baby boomers are calling for a timeout.

After decades of raising children and climbing the corporate ladder, they’re weary of the same old routine. But they’re so caught up in high-pressure jobs that they don’t have the time and energy to figure out what to do next.

Enter the career break.

Inspired by high-school and college students who take “gap” or “bridge” years, more baby boomers are taking an extended leave from the working world. Their goal: to relax, re-energize and reflect upon what they want to do next””which often means heading down an entirely new and more fulfilling career path.

Read it all from the WSJ.

Despite rampant commercialization, the holiday season also has become a lifeline for nonprofits. One-third of all giving now takes place during the last three months of each year. About 18 percent of all giving to nonprofits last year occurred in December alone.

So far, it looks like that giving spirit will soar higher this year.

The Blackbaud Index, which measures charitable giving trends, announced last week that giving nationwide grew 2.3 percent for the three months ending October 2013 compared to the same time in 2012. Online giving increased almost 10 percent.

Read it all from the Faith and Values section of the local paper.

Shanghai warned children and the elderly to stay indoors for at least a seventh day out of the first nine this month, intensifying pressure on local authorities to control the worst smog since government monitoring began last year.

The city’s air quality index was at 238, or “heavily polluted” at 5 p.m., according to the local monitoring center. A warning to stay indoors is triggered any time the index exceeds 200. The index surged to a record 482 on Dec. 6 into the “severe” level, the highest of a six-tier rating system, according to the China Daily. That prompted the government to order cars off the road and factories to cut production.

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As Justin Reckers watched his parents go through a nasty divorce, the wrenching experience gave him a first-hand view of some the worst mistakes couples can make when parting ways.

It also helped shape his career choice. He is now chief executive of Pacific Divorce Management and director of financial planning at Pacific Wealth Management.

Mr. Reckers describes his parent’s breakup, which occurred just as he graduated college, as “probably the worst possible divorce scenario you could imagine.” There were angry confrontations and the couple ended up bankrupt, he said….

Now 32, the son wants to help others find a less troubled path.Read it all.

The Atlantic has a story out about how the aging of the baby boom will lead to a housing crash. I am skeptical, because research I am doing with Hyojung Lee suggests that old people do not move out of their homes very much, and so as boomers age, they will not be glutting the market with their houses.

But there is another reason to think that the homeownership rate could fall: people are getting married at a decreasingly low rate. Susan Brown at Bowling Green has a study that shows that the marriage rate has dropped by 60 percent since 1970; right now slightly less than half of American households are married couple households. As recently as 1960, 3/4 of American households were married couple households.

Read it all.

Doctors choose the more expensive drug more than half a million times every year, a choice that costs the Medicare program, the largest single customer, an extra $1 billion or more annually.

Spending that much may make little sense for a country burdened by ever-rising health bills, but as is often the case in American health care, there is a certain economic logic: Doctors and drugmakers profit when more-costly treatments are adopted.

Genentech, a division of the Roche Group, makes both products but reaps far more profit when it sells the more expensive drug. Although Lucentis is about 40 times as expensive as Avastin to buy, the cost of producing the two drugs is similar, according to scientists familiar with the drugs and the industry.

Read it all.

Leaders: what kind of culture are you fostering in your ministry? In a world ever more primed for speed and convenience, should the church lean into the trend or cling to more grounded values? Engage this piece from Craig Detweiler, and respond in the comments.

-Paul

Jeff Bezos is a brilliant man and a remarkable marketer. He realizes that in the wake of Steve Jobs’ death, the role of technologist-in-chief is up for grabs. And while Google is offering us Glass and Facebook and Twitter are aggregating our friends and followers, Amazon is appealing to a different felt need””for speed. By turning 60 Minutes into a platform to announce “drone delivery,” Bezos shifted the news cycle towards Amazon on the same day that Christians have traditionally initiated Advent. While people of faith were shifting into a season of waiting and anticipation, Amazon offered the promise of “Prime Air” that could go above and beyond UPS or Federal Express to deliver our choices in an even faster, more convenient manner””via octocopters.

It doesn’t really matter when this innovation will arrive. By getting us talking and thinking about the virtues of Amazon’s delivery methods, Bezos enjoyed a miraculous public relations coup.

Read it all.

Anglican Unscripted is the only video newscast in the Anglican Church. Every Week Kevin, George, Allan and Peter bring you news and prospective from around the globe.

Show Index:

00:00 Anglicans have lost the Mother Church
14:38 Piling onto Pilling Report with Peter Ould
33:14 IRS and Clergy Housing Allowances with AS Haley
41:51 The National Museum in Washington DC
48:37 Closing and Bloopers

Watch it all.

Healthcare.gov seems to be working better for consumers, relatively, but it is not clear that it works for insurers (in which case it doesn’t work for consumers either, as they are trying to buy insurance). Insurers have long said that they are receiving botched enrolment forms, or 834s, if they receive them at all. On December 2nd health officials said they had fixed a problem that accounted for 80% of the glitches with 834s. But they would not confirm what share of 834s were being bungled, so it is hard to know the fix’s importance.

If the site is working better for consumers, as it seems to be, shoppers may rush to sign up for insurance before Mr Obama’s deadline of December 23rd. They will expect coverage to kick in just a few days later, on January 1st. That gives insurers little time to process 834s, even if they are sent without problems, let alone deal with garbled forms. Mr Obama’s goals for health reform have always been laudable. But the gruelling, technical job of enrolment will be the big story for some time yet.

Read it all.

I will take comments on this submitted by email only to KSHarmon[at]mindspring[dot]com.

A federal bankruptcy judge granted Detroit unprecedented powers Tuesday to shed billions of dollars in debt, including the ability to slash city employee pensions despite a state constitutional provision protecting them.

In approving the nation’s ­largest-ever municipal filing, Judge Steven Rhodes cleared the way for Detroit’s emergency manager to develop a plan to reorganize the city’s estimated $18 billion in debt. Beyond cutting worker pensions and retiree health benefits, the city could stiff bondholders and sell city assets such as its water and sewer authority and its priceless art collection.

Read it all.

China’s yuan overtook the euro to become the second-most used currency in global trade finance in 2013, according to the Society for Worldwide Interbank Financial Telecommunication.

The currency had an 8.66 percent share of letters of credit and collections in October, compared with 6.64 percent for the euro, Swift said in a statement today. China, Hong Kong, Singapore, Germany and Australia were the top users of yuan in trade finance, according to the Belgium-based financial-messaging platform. The yuan’s share of global trade finance was 1.89 percent in January 2012, while the euro’s was 7.87 percent, Swift said.

Read it all.

Faith schools discriminate against the less well-off, a survey has suggested. Comprehensive non-faith secondary schools admit 11 per cent more pupils eligible for free school meals than would be expected given their areas, while comparable Church of England secondaries admit 10 per cent fewer, it was found.

The Fair Admissions Campaign, which wants schools opened equally to all children regardless of religion, said admissions of pupils eligible for free school meals fell below the level in the schools’ areas by 24 per cent at Roman Catholic, 25 per cent at Muslim and 61 per cent at Jewish secondary schools.

The campaign claimed a “clear correlation” between religious selection and socio-economic segregation.

Read it all (subscription required).

Jeff Bezos: These are effectively drones but there’s no reason that they can’t be used as delivery vehicles. Take a look up here so I can show you how it works.

Charlie Rose: All right. We’re talking about delivery here?

Jeff Bezos: We’re talking about delivery. There’s an item going into the vehicle. I know this looks like science fiction. It’s not.

Charlie Rose: Wow!

Jeff Bezos: This is early. This is still”¦years away. It drops the package.

Charlie Rose: And there’s the package.

Jeff Bezos: You come and get your package. And we can do half hour delivery.

Read it all.

The former Crystal Cathedral will close to the public as it undergoes a transformation from a space built as a television studio as much as a sanctuary into the spiritual home for the Orange County Catholic community of more than 1.2 million people.

Beginning Sunday, the newly named Christ Cathedral will be closed for construction as crews launch a $29 million effort to restore the more than 75,000-square-foot space.

The Diocese of Orange has been working with liturgical consultants and architects to modify the church built in the vision of the Rev. Robert Schuller into one that meets the requirements of a Catholic cathedral.

“The beauty and inspiration evoked by the cathedral grounds and its architecture are only surpassed by the extraordinary communities of faith that now call this campus home,” Bishop Kevin Vann said in a statement. “The cathedral will be an international center of faith and evangelization, a vessel for the love of God, a beacon of faith, a home for neighbor and traveler, and a sanctuary for the human spirit.”

Read it all.

In the early predawn hours of Thanksgiving, Jason Goldberger huddled with his team on the 20th floor of a Target Corp. building in Minneapolis to make sure everything was ready at the chain’s most important store: Target.com.

The stakes were high. Online shoppers accounted for 40% of the $59 billion in sales racked up over the four-day Black Friday weekend last year, up from 23% in 2006, according to the National Retail Federation. Store traffic this year has been sluggish

Mr. Goldberger, who runs Target’s website and mobile business, arrived at 2 a.m., His staff split into two conference rooms. One held a technology team responsible for the workings of the site. The other had people comparing Target’s deals with offers from Amazon.com and Walmart.com.

Read it all.

Just as the lines between games and war are fluid, the opposite is also sometimes the case. In his 1938 book Homo Ludens, Johan Huizinga draws attention to 2 Samuel 2:14, when Abner challenges Joab to combat by announcing, “Let the young men now arise and play before us.” The ensuing battle confirms for Huizinga that “Play is battle and battle is play.”

Huizinga insists, however, that both the player and the warrior live by a code of honor, one shaped by “courage,” “tenacity” and access to “spiritual powers.” In other words, these are not lawless misanthropes. Advocates of the “muscular Christian” movement of the mid-19th century made similar distinctions as they acclaimed the high virtues of athletics. British author Thomas Hughes depicted the mindless “muscle man” as someone who exploits his body and succumbs to his “fierce and brutal passions.” The “muscular Christian,” on the other hand,

has hold of the old chivalrous and Christian belief, that a man’s body is given him to be trained and brought into subjection, and then used for the protection of the weak, the advancement of all righteous causes, and the subduing of the earth.

With this in mind, we might conclude that the Incognito affair unveils not the problems of a “warrior culture” but rather an absence of it.

Read it all.

“Do you think I need sweaters at Kohl’s? No!” Janine Reed said. “But they’re 10 bucks. You think I’m going to get one? Yeah ”“ just ‘cos.”

–From an NPR story today on shopping.

Where things get really interesting is when Pope Francis brings up the financial crisis. “One cause of this situation,” he writes, “is found in our relationship with money, since we calmly accept its dominion over ourselves and our societies. The current financial crisis can make us overlook the fact that it originated in a profound human crisis: the denial of the primacy of the human person!”

It’s nothing new to say the financial crisis came from a lack of regulation. That’s a fairly popular analysis. But what Pope Francis is saying is more Polanyan, hearkening back to the idea that the tipping point has to do with the relationship between the market and society/humanity, and which is subordinate to the other. Just as Polanyi argued that the extension of the market economy across the globe (through the gold standard) was the root cause of World War I (and you’ll have to go back to the original book for that, but it’s a beautifully, hilariously gutsy, Guns, Germs, and Steel kind of argument), Francis is arguing that failing to keep humanity at the center of our economic activity was the root cause of the financial crisis.

Read it all.

A few years ago I wrote an article for the Moultrie Observer regarding the purple bows that were on the wreaths on the doors at St. John’s Episcopal Church at 609 South Main Street. In 2012 there were no purple bows or wreaths on the doors, as the church sat empty when the members of St. John’s left The Episcopal Church to form St. Mark’s Anglican Church. However, 2013 will mark the return of the purple bows, and the new spiritual home of St. Mark’s Anglican.

On September 30, 2013, St. Mark’s was able to purchase the building from the Episcopal Diocese of Georgia….

Read it all.

The Supreme Court announced on Tuesday (Nov. 26) that it will decide whether for-profit businesses can be treated like religious entities in a politically and constitutionally freighted test of the Obama administration’s mandate that employers include free contraception coverage as part of their health plans.

The cases, which will probably be argued in March and decided in June, will not deal with a string of other lawsuits over the mandate that have been filed by nonprofit faith-based groups. Those complaints are still working their way through the lower courts.

Still, the cases the high court will now take up are likely to establish important precedents by setting the parameters of religious rights in two key arenas.

Read it all.

While automakers and dealers lament that younger buyers have neither money nor brand loyalty when it comes to buying a car, a host of services are looking to the crowd to help them save for what could be the biggest purchase they will make for several years.

Geared toward first-time buyers, these services, like BoostUp, a Detroit-based company that Ms. Frandsen and Mr. Burris used, are trying to turn car-buying into a social experience.

Toyota and Google, for example, are announcing on Wednesday the Toyota Collaborator, a social car shopping tool where potential Corolla buyers can discuss decisions with friends and family in real time using Google Hangouts.

Read it all.

U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks.

The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.

Read it all.

Pope Francis called for renewal of the Roman Catholic Church and attacked unfettered capitalism as “a new tyranny”, urging global leaders to fight poverty and growing inequality in the first major work he has authored alone as pontiff.

The 84-page document, known as an apostolic exhortation, amounted to an official platform for his papacy, building on views he has aired in sermons and remarks since he became the first non-European pontiff in 1,300 years in March.

In it, Francis went further than previous comments criticizing the global economic system, attacking the “idolatry of money” and beseeching politicians to guarantee all citizens “dignified work, education and healthcare”.

Read it all.

American workers are living with unprecedented economic anxiety, four years into a recovery that has left so many of them stuck in place. That anxiety is concentrated heavily among low-income workers such as Stewart.

More than six in 10 workers in a recent Washington Post-Miller Center poll worry that they will lose their jobs to the economy, surpassing concerns in more than a dozen surveys dating to the 1970s. Nearly one in three, 32 percent, say they worry “a lot” about losing their jobs, also a record high, according to the joint survey, which explores Americans’ changing definition of success and their confidence in the country’s future. The Miller Center is a nonpartisan affiliate of the University of Virginia specializing in public policy, presidential scholarship and political history.

Job insecurities have always been higher among low-income Americans, but they typically rose and fell across all levels of the income ladder. Today, workers at the bottom have drifted away, occupying their own island of in­security.

Read it all.

Children raised in single-parent households in the U.S. are far more likely to live in poverty than children with both parents present, according to Census figures released Monday. As a result, far more black and Hispanic children are raised in poverty than white kids.

Among all children living only with their mother, nearly half ”” or 45% ”” live below the poverty line, the Census Bureau said. For those living with just the father, about 21% lived in poverty. By comparison, only about 13% of children with both parents present in the household live below the poverty line.

Read it all.

Companies are bracing for an influx of participants in their insurance plans due to the health-care overhaul, adding to pressure to shift more of the cost of coverage to employees.

Many employers are betting that the Affordable Care Act’s requirement that all Americans have health insurance starting in 2014 will bring more people into their plans who have previously opted out. That, along with other rising expenses, is prompting companies to raise workers’ premium contributions, steer them toward high-deductible plans and charge them more to cover family members.

Read it all.

According to CT sister resource Managing Your Church, the average base salary of a full-time senior pastor in 2012-2013 ranges from $33,000 to $70,000. Eighty-four percent of senior pastors surveyed said they also receive a housing allowance, which accounts for $20,000 to $38,000 in added compensation. The Joint Committee on Taxation calculates the exemption amounted to $700 million in recent years, notes Peter Reilly of Forbes.

CT previously reported how the threat to pastor parsonages lost its legal legs but was revived again, and examined debate over whether or not Congress should change the rules on pastor housing allowances. CT also noted the quirky reasoning that recently allowed one prominent pastor to claim two parsonages.

Read it all.

Very few areas get me wound up faster than clergy finances. There are two reasons for this. One is that the actual situation with taxes and clergy compensation is quite complicated and not well understood even by people who work with taxes professionally and, as if that isn’t trouble enough, many clergy in my experience are inadequate and in some cases even ignorant in the financial area.

Second, you need to understand the bizarre–and I mean bizarre–basic situation of clergy finances.
If you take a look at the basic IRS definition it starts as follows:

In the meantime, pray for those in ordained ministry, it is a very, very demanding area in which to work–KSH.