Once The Domain Of Millennials, Uber And Lyft Are Now Pursuing Seniors

Ride-hailing services want to make sure Grandma Betty can get to bridge club just as easily as her 22-year-old grandson travels to and from ... whatever it is young folks are doing these days.

Once the domain of 20-somethings who might have a drink or two and need a safe ride home, companies like Lyft and Uber have set their sights on a different age range entirely: senior citizens.

Lyft announced Tuesday it has partnered with GreatCall, a mobile phone company that specializes in providing cell phones to seniors, to extend its ride-hailing services to those who ― like the elderly ― may not have a smartphone, much less want to learn how to use an app on one to hail a ride.

Instead of an app, GreatCall customers dial “0” to talk to an operator, who can provide a cost estimate and book a ride. The fare is tacked onto the customer’s monthly cell phone bill.

The L.A. Times notes Uber struck up a similar arrangement with a company called 24Hr HomeCare last week.

Several third-party ride-hailing services also specialize in giving lifts to older adults who don’t have smartphones, including GoGoGrandparent, a newer entrant that adds additional features like meal and grocery delivery options.

As people age, one thing to go is the ability to drive. That means losing your freedom to get to doctor’s appointments and to stay social with friends.

This is far from either company’s first foray into the senior market, which, judging by recent moves from both Uber and Lyft, seems ripe for disruption.

And it couldn’t come at a better time. The first wave of the so-called “baby boomer” generation turned 65 in 2011, with the number of Americans aged 65 and older projected to keep growing until 2030, when it’s expected to peak at around 71 million people.

Earlier this year, both Uber and Lyft began offering non-emergency medical transport services, specifically targeting customers whose rides would be reimbursed by Medicaid. 

And in the Denver suburb of Centennial, where 15 years from now at least 30 percent of the population is projected to be over the age of 65, city officials are exploring replacing current dial-a-ride services with less expensive, more efficient rides via Lyft.

Starting Aug. 17, the city has embarked on a first-of-its-kind, six-month long pilot project, paying for Lyft rides to and from the area’s major light-rail station in a bid to increase mobility.

“We call Centennial the Silver Tsunami,” Centennial Mayor Cathy Noon told The Atlantic blog CityLab. “As people age, one thing to go is the ability to drive. That means losing your freedom to get to doctor’s appointments and to stay social with friends. We really want to help keep the people who started Centennial engaged in it.”

Note: The Huffington Post’s editor-in-chief Arianna Huffington is a member of Uber’s board of directors and has recused herself from any involvement in the site’s coverage of the company.

Mylan CEO Should Resign (And Take Her 'Coupons' With Her)

I recently wrote a Huffington Post piece demanding that embattled Mylan CEO, Heather Bresch, cut the price of EpiPens and resign. After days of media coverage regarding Mylan’s price gouging of the EpiPen auto-injector, Bresch finally took an interview with CNBC that could, at best, be described as a friendly exchange. There were no hard hitting questions. This wasn’t journalism; it was public relations’ version of tee-ball. I am writing again to reiterate my demand that Heather Bresch cut the price of EpiPens and resign immediately.

When Bresch finally broke her silence, it was to offer coupons and an increase in a program that gives low-income families free access to EpiPens. Coupons! I can’t make this up. This gives us more perspective on how important the systematic EpiPen price increases are to Mylan and its CEO.

Bresch and her fellow Mylan executives undoubtedly have spent dozens of hours over the past few days hunkered down in a conference room with a public relations crisis team, lawyers and other advisors. After days of public outcry over yet another case of extreme corporate greed and indifference for human life, they decided to offer us coupons.

After days of public outcry over yet another case of extreme corporate greed and indifference for human life, they decided to offer us coupons.

Heather Bresch’s comments on CNBC’s Squawk Box were a distraction. Bresch didn’t even consider cutting the price, stating, “Had we reduced the list price, I couldn’t ensure that everyone that needs an EpiPen gets one.”

Look closely at what she is actually saying in this statement that was clearly drafted with legal expertise. Bresch is saying that if she cut the price, she could not guarantee that every single person who needed an EpiPen gets one. This statement is true to the extent that if she lowered the price and even a single person wasn’t aware that they could now afford this life-saving drug, that one person might not receive an EpiPen. This statement was artfully crafted to make it sound as if Bresch has no ability to increase access to EpiPens for millions of people who need them. But Bresch knows this isn’t true. The best way to increase access to this life-saving medication is to cut the price.

Bresch also offered to increase the income threshold for lower-income families who have free access to EpiPens. This is also calculated. In my professional role, I work with many lower-income families. I know from experience that these families are the more likely to be unaware of complicated programs that may require forms, a visit to the doctor, and other obstacles. It’s often very difficult to increase awareness of programs that benefit these lower-income families. Bresch and Mylan are making an offer that appears to be more altruistic than it really is. They know that many of these families will still pay for EpiPens or go without them because they won’t have an awareness of this program and any changes to it.

You can keep your coupons, Heather! Cut the price of EpiPens and resign.

What happens when the national public outcry dies down because Mylan has appeared to appeased people just enough so that our short-term memory news cycle moves on to the next big scandal? The coupon and the program for lower-income families can be cut or eliminated altogether. And Mylan still has a virtual monopoly in the national epinephrine auto-injector market.

Why is Bresch even offering coupons and additional access to a free EpiPen program? Bresch and Mylan have lost billions of dollars in stock value in a number of days due to the negative press about their systematic price gouging. If they act quickly and quiet the national fervor, they will disappear from the national media spotlight, the waters will calm and their stock may continue to gain back those billions.

The really disgusting part of all of this? Mylan’s stock could actually gain value as a result of Bresch’s sleight of hand comments and offers to customers. The only way that real change will come to Mylan is if our nation’s media outlets - and all of us regular hardworking Americans – continue to demand price cuts and Bresch’s resignation.

The calculated response and “fixes” that Mylan CEO Heather Bresch offered people like my two-year-old daughter are further evidence of a culture of greed that employs deceit and misdirection to maintain its extortionate prices and profit margin.

The most despicable part of Bresch’s theatrical CNBC comments was that she claimed, “No one’s more frustrated than me.”

I’ll bet you your $19 million salary that I’m more frustrated than you! You can keep your coupons, Heather! Cut the price of EpiPens and resign!

Related...

• The CEO Who Raised EpiPen Prices Should Resign
• Mylan Executives Got Pay Increases As Price Of EpiPen Soared
• EpiPen's 500 Percent Price Hike Leaves Patients Scrambling

Mylan CEO Should Resign (And Take Her 'Coupons' With Her)

I recently wrote a Huffington Post piece demanding that embattled Mylan CEO, Heather Bresch, cut the price of EpiPens and resign. After days of media coverage regarding Mylan’s price gouging of the EpiPen auto-injector, Bresch finally took an interview with CNBC that could, at best, be described as a friendly exchange. There were no hard hitting questions. This wasn’t journalism; it was public relations’ version of tee-ball. I am writing again to reiterate my demand that Heather Bresch cut the price of EpiPens and resign immediately.

When Bresch finally broke her silence, it was to offer coupons and an increase in a program that gives low-income families free access to EpiPens. Coupons! I can’t make this up. This gives us more perspective on how important the systematic EpiPen price increases are to Mylan and its CEO.

Bresch and her fellow Mylan executives undoubtedly have spent dozens of hours over the past few days hunkered down in a conference room with a public relations crisis team, lawyers and other advisors. After days of public outcry over yet another case of extreme corporate greed and indifference for human life, they decided to offer us coupons.

After days of public outcry over yet another case of extreme corporate greed and indifference for human life, they decided to offer us coupons.

Heather Bresch’s comments on CNBC’s Squawk Box were a distraction. Bresch didn’t even consider cutting the price, stating, “Had we reduced the list price, I couldn’t ensure that everyone that needs an EpiPen gets one.”

Look closely at what she is actually saying in this statement that was clearly drafted with legal expertise. Bresch is saying that if she cut the price, she could not guarantee that every single person who needed an EpiPen gets one. This statement is true to the extent that if she lowered the price and even a single person wasn’t aware that they could now afford this life-saving drug, that one person might not receive an EpiPen. This statement was artfully crafted to make it sound as if Bresch has no ability to increase access to EpiPens for millions of people who need them. But Bresch knows this isn’t true. The best way to increase access to this life-saving medication is to cut the price.

Bresch also offered to increase the income threshold for lower-income families who have free access to EpiPens. This is also calculated. In my professional role, I work with many lower-income families. I know from experience that these families are the more likely to be unaware of complicated programs that may require forms, a visit to the doctor, and other obstacles. It’s often very difficult to increase awareness of programs that benefit these lower-income families. Bresch and Mylan are making an offer that appears to be more altruistic than it really is. They know that many of these families will still pay for EpiPens or go without them because they won’t have an awareness of this program and any changes to it.

You can keep your coupons, Heather! Cut the price of EpiPens and resign.

What happens when the national public outcry dies down because Mylan has appeared to appeased people just enough so that our short-term memory news cycle moves on to the next big scandal? The coupon and the program for lower-income families can be cut or eliminated altogether. And Mylan still has a virtual monopoly in the national epinephrine auto-injector market.

Why is Bresch even offering coupons and additional access to a free EpiPen program? Bresch and Mylan have lost billions of dollars in stock value in a number of days due to the negative press about their systematic price gouging. If they act quickly and quiet the national fervor, they will disappear from the national media spotlight, the waters will calm and their stock may continue to gain back those billions.

The really disgusting part of all of this? Mylan’s stock could actually gain value as a result of Bresch’s sleight of hand comments and offers to customers. The only way that real change will come to Mylan is if our nation’s media outlets - and all of us regular hardworking Americans – continue to demand price cuts and Bresch’s resignation.

The calculated response and “fixes” that Mylan CEO Heather Bresch offered people like my two-year-old daughter are further evidence of a culture of greed that employs deceit and misdirection to maintain its extortionate prices and profit margin.

The most despicable part of Bresch’s theatrical CNBC comments was that she claimed, “No one’s more frustrated than me.”

I’ll bet you your $19 million salary that I’m more frustrated than you! You can keep your coupons, Heather! Cut the price of EpiPens and resign!

Related...

• The CEO Who Raised EpiPen Prices Should Resign
• Mylan Executives Got Pay Increases As Price Of EpiPen Soared
• EpiPen's 500 Percent Price Hike Leaves Patients Scrambling

5 Reasons To Choose Private Equity Real Estate Funds

Sell everything. That's what famed investors such as George Soros, Carl Icahn, Jeff Gundlach, Bill Gross and Stan Druckenmiller have been preaching about equities since May, noted Barrons this August--at the same time CBOE's Volatility Index fell to its lowest level in two years.

Despite the fact that the 2016 S&P 500 is up 5.9 percent on a price basis in the face of uncertain times (think Brexit, the U.S. elections, the record low yields of the U.S. 10-Year Treasury Note and more), the stock market can't and won't go up forever. Bad news drives interest rates lower, and lower rates support loftier valuations, said Barrons.

Bonds are equally risky. In a weak business climate, the fixed yields of bonds look more attractive as stock prices fall. But that traditionally inverse relationship between stocks and bonds has broken down in the last two decades, noted The Wall Street Journal.

A 2016 McKinsey Global Institute report suggests the combination of higher interest rates, lower economic growth and weak corporate profits is here to stay - and a portfolio made up only of stocks and bonds will generate lower returns for years to come.

Commercial real estate has the potential to offer long-term returns that are both healthy and stable. Most significantly, when added to a traditional portfolio of stocks and bonds, this asset class can decrease volatility and increase returns. But it's important to understand the different types of real estate investments you can make, and each one's potential impact on your portfolio.

For instance, an investor recently asked us why buy into our Fund III at Origin Investments instead of a successful publicly traded REIT such as Realty Income Corp. (O-NYSE)? Both products boast similar target returns, and the REIT has a lot going for it. This includes:

• A proven long-term record of 14 percent returns (compared to Origin's Fund III's targeted return of 17-19 percent), with a current dividend yield of 3.76 percent;
• Dividends that have increased over time; and
• Liquidity, since the REIT is traded on an exchange and can be sold like any other stock.

In truth, when it comes to deciding between a publicly traded REIT and a private equity real estate fund, it isn't an "either-or" proposition but rather an "and" proposition; you don't necessarily have to choose between the two. Here's why, along with four other compelling reasons to invest in private equity real estate funds:

1.Unlike REITs, private equity real estate isn't tied to stock market fluctuations.
While public real estate products can be lucrative investments, they are highly correlated to the stock market. That means they rise and fall based on what's happening in the economy, and their values can be impacted by events that have nothing to do with real estate fundamentals. Because of this, adding publicly traded REITs alone will not necessarily improve your portfolio's risk-adjusted returns.

2.Public equity real estate funds achieve different investing goals.
When evaluating a potential investment, it important to look at alpha and beta. Beta measures the volatility of a fund relative to the market by gauging how much the fund's returns move up or down given the gains or losses of its benchmark market index. Alpha is the difference between a fund's expected returns based on its beta and its actual returns, and it is sometimes interpreted as the value that a portfolio manager adds, notes Morningstar.

Public REITs are a good example of the difference between alpha and beta.

With pubic REITs you are essentially buying beta, while a private equity real estate fund seeks to achieve alpha--and does with strategic business plans for properties and skilled asset managers. Origin's goal is to outperform the market on a risk-adjusted basis and achieve returns well above the index. We focus on finding high quality, underperforming commercial real estate properties that can be turned around. Our philosophy is that this is the best way to protect the downside while maximizing the upside of each deal.

3. REITs are a volatile asset class.
When the economy tanks, REITs can get hit hard. "In 2007 and 2008, REITs lost 15.7 percent and 37.7 percent, respectively," the Wall Street Journal noted recently. Also, since 2000, REITs "are second only to emerging-market stocks as the most volatile asset class. And with interest rates likely to rise, the next few years could be tough," especially for investors buying REITs now, concluded the WSJ.

4. Funds minimize risk exposure.
Our private equity funds are one of the most effective options for investors because they are a diversified investment. At Origin, each of the properties in a fund are run as a separate businesses. So if one underperforms it doesn't impact the others. A deal by deal investment strategy does not offer this same benefit.

To better gauge how well a fund will perform, it also helps to look at a company's other products. In our case, our earlier Funds I and II had projected returns of 17-19 percent, however Fund I is on track to generate a 28 percent net return and Fund II is on track to deliver a 26 percent return. Preqin, an industry leader that tracks performance of private equity fund managers, ranked these two funds in the top quartile as of June 2016.

5. Consider the manager's alignment of interests.
According to Towers Watson, a leading global advisory company, co-investment is the most effective way to align the interests of a manager and investors. We started Origin to invest our own capital, and maximizing investment performance remains our primary goal. We continue to keep our skin in the game with Fund III by committing $10 million of our personal resources.

If private equity real estate isn't part of your portfolio, it needs to be; asset allocation is a large determinant of investment success. Private real estate has low correlation to other asset classes, high expected returns and low volatility. That makes it a trifecta, since most asset classes only have one or two of these qualities.

CEO Of Giant Corporation Tells US Government He's The Boss Of Them

Are We the People the boss of giant multinational corporations, or are they the boss of us?

Imagine, if you will, going to the IRS and saying, "I don't think the tax rate is fair so I'm not going to pay it." Regular Americans can't do that. But Apple just did.

Apple's CEO Tim Cook was interviewed by the Washington Post early this month. He was asked about the vast sums of profits that Apple has shifted into overseas tax havens thanks to a loophole in US tax law that lets them "defer" paying taxes on those profits as long as the money technically stays outside the country. Cook said (emphasis added, for emphasis):

And when we bring it back, we will pay 35 percent federal tax and then a weighted average across the states that we're in, which is about 5 percent, so think of it as 40 percent. We've said at 40 percent, we're not going to bring it back until there's a fair rate. There's no debate about it.

What would happen to any regular American if they did what Cook did, and said they they aren't going to pay taxes because they don't think the tax rate is "fair"? (Hint: Jail. And maybe 2 or 3 years added to the sentence for the contempt of saying, "There's no debate about it.")

But Apple is a huge multinational corporation, and these days huge multinational corporations are the boss of our Congress. So, CEO Cook gets away with it -- and with keeping $181 billion in tax havens to dodge paying $59 billion in taxes. Cook knows he can just come out and say they are not going to pay their taxes until there is a "fair rate."

Of course, huge multinational corporations will tell you a "fair rate" would be zero. Or better yet, how about We the People just bow down and pay taxes to them. The corporate tax rate used to be 50%. CEOs complained it was "unfair" so it was lowered to 35%. Also, by the way, Apple can deduct taxes it pays elsewhere, including to states, from its federal tax bill.

Think about what We the People could do with that $59 billion Apple owes us.

In all multinational corporations have more than $2.4 trillion stashed in tax havens, dodging maybe $700 billion in taxes.

Think about what We the People could do with that $700 or so billion they owe us.

Meanwhile

Americans for Tax Fairness released a new investigative report showing that Gilead Sciences exorbitantly priced hepatitis C medications -- price gouging ill American patients -- then shifted billions of dollars of the resulting profits to offshore tax havens to dodge taxes.

An August 21 news story in FORA, an Irish business publication, confirmed key findings of the report:

Company filings show that one of the firm's main Irish subsidiaries had revenues of $2 billion in 2012 and made a full-year profit of $1.3 billion but paid nothing to the Irish exchequer as the firm was tax resident in the Bahamas - where zero corporate taxes apply.

At the end of the year, after which the subsidiaries finances are not publicly accessible, the Irish subsidiary had accumulated profits of just under $7 billion.

The company also transferred the ownership of one of its most valuable money-makers, which it acquired for $11 billion, to a separate Irish subsidiary.

So, this company gouges sick Americans and shifts the profits out of the country to dodge taxes. Are We the People the boss of these giant corporations, or are they the boss of us? Whose government is this, anyway? Who is our economy for?

"The Little People Pay Taxes"

Times have changed. People and companies didn't used to get away with snubbing their nose at We the People, and doing things like dodging taxes.

In the 1980s Leona Helmsley was known as the "Hotel Queen." Helmsley and her husband Harry were known for buying apartment buildings, forcing out the tenants, and converting them into condominiums. The Helmsley real estate empire included the Empire State Building.

They also owned hotels. Leona ran as many as 30 Helmsley hotels, with the luxurious Helmsley Palace at the peak, and became famous after she was featured in advertisements.

But Helmsley became known as "the Queen of Mean," because she was notorious for doing things like abusing employees, firing them at Christmas, even evicting her son's widow a few days after he died. Eventually a dissatisfied employee turned her in for various tax crimes and she was indicted on 235 state and federal counts.

The Helmsleys were charged with using hotel money to buy personal items to evade income taxes. Helmsley famously said of the charges, "We don't pay taxes. Only the little people pay taxes."

We the Little People sentenced Helmsley to 12 years in jail for evading $1.7 million in taxes (eventually resulting in 19 months in jail and 2 years of home arrest.) At her sentencing the judge said:

'There is a community that needs to be served by the enforcement of the law. . . . It is my judgment the motion for sentence reduction should be denied.'

Griesa said that Helmsley's conduct had been 'deliberate, fraudulent, directed against the United States government. It involved evasion of taxes.'

Helmsley was sentenced to jail for evading a pittance of $1.7 million in taxes. Today Apple owes $59 billion. In this age of "mass incarceration" for regular people, imagine a wealthy Wall Street banker or corporate CEO going to jail for something. Actually, you can't even imagine it.

No, instead this is today's reality: Lawmakers Overseeing Wall Street Given Bigger, More Favorable Loans Than Others: Study.

Senator Wyden Says End Deferral Loophole

Some people are trying to restore our democracy, and make We the People the boss of the giant corporations and wealthy CEOs again.

Senator Bernie Sanders has been calling for ending this deferral loophole for a long time. His residential campaign platform called for using the resulting revenue to pay for $1 trillion of infrastructure repair. Senator Elizabeth Warren has also called for ending this loophole.

Last week Oregon Senator Ron Wyden penned an op-ed calling for an end to this corporate tax haven "deferral" loophole, titled "Ending the Biggest Tax Rip-Off -- Tax Deferral." In it Wyden wrote:

...[Tax deferral] is the rule that encourages American multinational corporations to keep their profits overseas instead of investing them here at home, and it does so by granting them $80 billion a year in tax breaks. This policy is as foolish as it is unfair. It simply defies common sense.

Most Americans probably aren't familiar with deferral ...but ... some of the most profitable companies in the world can put off paying taxes indefinitely while hardworking Americans must pay their taxes every year.

Unfortunately, Wyden resorts to offering to bargain with the corporations, offering lower tax rates if they would please invest in the US. Like so many others, Wyden has forgotten that Congress is supposed to be the boss of the corporations.

Sign The Petition

SIGN THE PETITION: Stand with Americans for Tax Fairness and Public Citizen and demand that U.S. Treasury Secretary Jack Lew investigate Gilead's multi-billion-dollar tax dodging scheme and make Gilead pay the taxes it owes U.S. taxpayers.

-------

This post originally appeared at Campaign for America's Future (CAF) at their Blog for OurFuture. I am a Fellow with CAF. Sign up here for the CAF daily summary and/or for the Progressive Breakfast.

Tesla Just Unveiled The Quickest Car You Can Actually Buy

SAN FRANCISCO (Reuters) - Tesla Motors Inc <TSLA.O> Chief Executive Elon Musk said on Tuesday the company will offer a larger upgraded battery pack for performance versions of its Model S and X vehicles that will extend range and allow for super fast acceleration.

The new 100 kilowatt hour battery pack means high end versions of the Model S sedan, called the P 100D, will be the world’s fastest accelerating car in production, the Silicon Valley automaker said.

“These are very profound milestones and I think will help convince people around the world that electric is the future,” said Musk on a conference call with journalists.

The new battery extends the range of performance versions of the new Model S beyond 300 miles (482.8 km), Tesla said. Musk said that if the weather is not too hot, a driver could travel from San Francisco to Los Angeles without recharging.
After rising 2.1 percent to $227.71 in afternoon trade, shares dipped from session highs to $224.87, up less than 1 percent.

News of the upgrade comes as the all-electric car maker lays the groundwork for a controversial buyout of SolarCity Corp <SCTY.O>, while it also prepares for next year’s launch of its high profile Model 3 mass-market vehicle.

SolarCity agreed to Tesla’s $2.6 billion offer to buy the solar panel installer earlier this month, clearing one obstacle in the way of Musk’s ambitious goal to create a carbon-free energy and transportation company.

Both companies are still trading below where they were when SolarCity’s approval for the deal was announced.

In May, Tesla said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but it warned that spending will ramp up as well.

Tesla earlier this month reported a steeper than expected quarterly loss on higher spending at its vehicle and battery factories.
 
(Reporting by David Shepardson; Editing by Chizu Nomiyama and Tom Brown)

 

 

Looks Like Ivanka Trump Doesn't Pay Her Interns

Ivanka Trump, who markets herself as a champion of working women and learned about business by walking her father’s construction sites, apparently does not pay interns at her namesake fashion and jewelry company in New York City, according to a blog post on IvankaTrump.com that also appeared on her official Twitter page on Thursday.

How to make it work as an unpaid intern: https://t.co/pwMIYWh4kw #nomoneynoproblems #interntips #internships pic.twitter.com/BRoWuO6bq7

— Ivanka Trump (@IvankaTrump) August 18, 2016

Yes, that actually says #nomoneynoproblems, and comes from the Twitter account of the daughter of self-proclaimed billionaire and Republican nominee for president Donald Trump.

In the post, unpaid intern Quincy Bulin offers tips and includes advice from three of her unpaid colleagues ― all women, two named Mackenzie.  

The advice includes finding a part-time job that actually pays, saving money during the school year, setting a budget and socializing cheaply.

Of course, Bulin leaves out the real key to surviving an unpaid internship: having well-off parents. Kids with families that can support them while they take on jobs for nothing are more likely to take on jobs for nothing. 

Unpaid internships at for-profit companies are not legal in New York City, where Ivanka’s workers are based ― unless the positions are for college credit. And even then, there are a host of restrictions around how the job is structured. Regulations regarding unpaid interns at nonprofit organizations are slightly less strict.

Ivanka Trump is certainly not the only employer to use unpaid interns. In an email, Chief Brand Officer Abigail Klem told The Huffington Post, “We strive to create a fulfilling learning opportunity tailored to the unique interests and career goals of each intern. It is our goal that at the end of the program, our interns leave with experiences that will help guide them into choosing a fulfilling career path.”

The company didn’t respond to requests for comment on whether those interns also leave with school credit or some other kind of reimbursement. And Trump herself likely didn’t even send out the tweet yesterday. She’s vacationing in Croatia while her father’s campaign goes into full meltdown mode. 

The notion that she would employ women without paying them is newsworthy for a couple of reasons, though. 

@IvankaTrump what the hell do you know about being an unpaid intern? Or making it work? Why all your emojis black women?? #TrumpPence16

— bodhizwanya (@malikazwanya) August 18, 2016

Ivanka and her brothers sold themselves as in-touch with working-class people at the Republican National Convention last month, talking up their experience on their father’s construction sites when they were growing up. 

Unpaid internships just aren’t the province of working-class people. An unpaid internship is “a handout that, best intentions aside, accelerates a cycle of privilege and reward,” Darren Walker, the president of the Ford Foundation, pointed out in a piece for The New York Times recently. Companies should get rid of unpaid internships, Walker argues, because they reinforce a lack of diversity. Unpaid interns land jobs eventually at these companies, and you wind up with a pretty homogenous workforce, which leads to all kinds of problems.  

.@IvankaTrump is this a joke? Is all of this some sort of Kaufman-esque performance art piece?

— Chris Bea (@CJosephBea) August 18, 2016

Not paying these women for their work also looks off, coming from Ivanka, who is a self-proclaimed supporter of women’s equality in the workplace. Indeed, her website bills itself as the “ultimate destination for women who work.”

Unpaid internships lead to lower-paying jobs, according to research from the National Association of Colleges and Employers. For these unpaid interns, that first lower-paying job would start a cycle of under-earning of the sort that reinforces pay gaps between men and women.

Speaking of supporting women: Ivanka reportedly gives 8 weeks paid parental leave to her employees. That’s not terrible, considering the United States has no paid leave policy. Yet, it falls short of what most proponents of paid leave and maternal health researchers consider optimal. She recently came under fire because her label works with companies that do not offer any paid leave.

In all, not a great look for a fashion company.

This article has been updated to include additional information about regulations surrounding unpaid internships, and with a comment from the company.

Editor’s note: Donald Trump regularly incites political violence and is a serial liar, rampant xenophobe, racist, misogynist and birther who has repeatedly pledged to ban all Muslims — 1.6 billion members of an entire religion — from entering the U.S.