Shelby Holliday Bio
Shelby Holliday is a graduate reporter for Palestra.net.
Shelby studied business at the University of San Diego, but she discovered her passion for broadcast journalism when she took up reporting for Palestra.net her senior year.
Shelby's favorite part about working for Palestra.net is having the ability to explore and cover all types of subject matter, from business and politics to sports and fashion. Since she started working for Palestra.net, Shelby has covered the 2008 presidential primaries, the Democratic and Republican National Conventions, the 2008 presidential election, the Victoria's Secret fashion show, the Sundance Film Festival, the Kentucky Derby, and New York Fashion Week. Shelby continues to covered the economic downturn from campuses across the country, reporting about the economy's impact on financial aid, tuition, budget cuts, job and internship opportunities, holiday travel, and even Spring Break.
Follow Shelby on Twitter (twitter.com/shelbyholliday) or friend her on Facebook; she is constantly online and would love to hear from you!
myProfile
- Home Town:
- Denver, CO
- Favorite Sport:
- Basketball
- Favorite Band:
- Too many to list!
- Major:
- Business
recentPosts
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New Plan Helps Alleviate Burden Of Student Loans
2009-07-02 11:21:11
Burdened by student loans? Good news: there are new rules in place to help you pay off your debt.
The new "Income-Based Reypayment" plan (IBR) became effective on July 1st, and it aims to make monthly payments more affordable for borrowers repaying new and existing federal student loans.
So how does it work? Instead of facing a set monthly amount, payments can now be linked to income and family size. That means if you are starting your career in a field that doesn't pay entry-level positions the big bucks (like yours truly), you can adjust your payments to be more in touch with your paychecks.
The Department of Education Explains:
"For example, someone with student loan debt of $25,000 at 6.8 percent interest would have a monthly payment of $288 under the standard 10-year repayment plan. If the borrower were single with no dependents and had an Adjusted Gross Income (AGI) of $30,000, the monthly payment would drop to $172 per month, a reduction of $116 per month, or 40 percent under the IBR Program."
While this plan buys recent graduates some time to get on their feet, there is a big downfall: Because the loan will take longer to repay, it could significantly increase interest costs.
There are a lot more details to the plan, including big perks for those who work in public service. (Check out the article linked up top to learn more.)
According to the Project on Student Debt, this plan may help as many as 1 million people.
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How Much Will Michael Jackson's Death Cost?
2009-06-29 10:56:56
High risks can bring high rewards, but they can also lead to financial disaster.
When concert promoter AEG announced Michael Jackson's "This Is It" comeback tour, the company knew it was taking a gamble. There would be a huge return on investment if everything went as planned, but Jackson was never really known for following through.
Nevertheless, things looked promising in the spring when AEG sold out 50 London shows just minutes after announcing Jackson's comeback. Now that the King of Pop has unexpectedly passed away, the company has to figure out a way to refund 750,000 tickets that amount to $85 million in sales. (According to the Wall Street Journal article linked up top, this is one of the biggest ticket-refund efforts in history.)
AEG also took out an $18 million insurance policy meant to help recoup costs in the case of an accident, but it may not apply since the coverage was dependent on a physical that Jackson had yet to take.
On top of that mess, AEG also spent a reported $20 million promoting MJ's shows that were supposed to kick off on July 13th at the O2 arena in London. Add that to the $10 million spent on elaborate rehearsals and the $20 million paid in advance to the King of Pop himself and you've got one big million-dollar dilemma. (And with Jackson's obscene amount of debt, it is not exactly clear how much AEG will be able to recover...)
So how much will Jackson's untimely death cost AEG? It has yet to be determined, but the company's website says it is extending its "deepest condolences to Michael Jackson's family and friends during this tragic time" and will release more information about refunds in the coming days.
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Harvard Layoffs Cause Unrest
2009-06-24 12:33:54
Harvard might be the nation's wealthiest school in terms of endowment, but that doesn't mean the university is recession-proof.
Harvard's endowment has lost an estimated $12 billion dollars since last June, falling from $37 billion to about $25 billion over the course of the year. In response to economic turmoil, the school announced that it will cut 275 jobs and reduce hours for about 40 faculty members.
While these cutbacks affect only a fraction of the 16,000 employed by the university, the news signals the harsh reality for even the richest of schools: the economy is having a negative impact on education. (Harvard has already withheld raises for about 9,000 faculty and non-union staff members, and it shed more than 500 employees after offering a voluntary early retirement program.)
Harvard President Drew Faust addressed the layoffs in a letter send out yesterday:
"Such decisions, in their human dimensions, are among the hardest that an institution like ours can make. But difficult circumstances have called for difficult decisions across the University," wrote Faust.
While Harvard blames the down economy for these 'difficult decisions,' some employees are up in arms. According to the Boston Globe, staffers are staging a protest to oppose the layoffs:
"The fact that this is happening at Harvard, who is still sitting on a chest of billions and remains the richest university in the world, shows it is pursuing this incredibly narrow path of naked self interest,’’ said Geoff Carens, a library assistant and union representative who is organizing a rally tomorrow to protest the cuts. “They’re using this drop in the endowment as an excuse to justify really terrible cuts that will have a disastrous impact on the surrounding communities."
What do you think? Does Carens have a point? If Harvard is still working with a $25 billion dollar endowment, are these layoffs justified?
Shelby's last-5
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Colleges Make Creative Cutbacks
The University of Washington is eliminating landlines, and Ohio State has done away with cafeteria trays. Universities across the country are being forced to make strategic decisions in light of drastic budget cuts. Palestra.net's Shelby Holliday has the story.
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Business Headlines: July 2, 2009
Unemployment rises, California faces a fiscal emergency, McDonalds rolls out the Angus Burger, and Polo Ralph Lauren strikes a deal with the U.S. Olympic Committee. Palestra.net's Shelby Holliday has your business headlines for July 2, 2009.
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Business Headlines: July 1, 2009
General Mills posts positive news, American Apparel employees found ineligible to work in the U.S., and Dunkin' Donuts pulls drinks after a Salmonella scare. Palestra.net's Shelby Holliday has your business headlines for July 1, 2009.
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Business Headlines: June 30, 2009
Bernie Madoff receives a 150 year sentence, Apple CEO Steve Jobs is back at work, and Michael Jackson memorabilia is flooding the internet. Palestra.net's Shelby Holliday has your business headlines for June 30, 2009.
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Business Headlines: June 29, 2009
Bernie Madoff faces his sentence today, AEG is set to lose millions after Michael Jackson's death, and Transformers is on its way to being the year's top-grossing film. Palestra.net's Shelby Holliday has your business headlines for June 29, 2009.
