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4 Chicago Tribune Business Section 2 Sunday, March 6, 2016 College degree may not erase poor roots Career earnings of low-income grads lag, study says AUCTION MART PLEASE CALL 312.222.4089 TO PLACE AD World Class Mechanical Contractor By Order of Howard B. Samuels, not individually, but Solely as the Assignee Trustee of The American Group of Constructors, THE AMERICAN GROUP OF CONSTRUCTORS 5020 Columbia Ave. Hammond, IN 46327 "The earnings gap between the poor and nonpoor college graduates also widened as time passed." Brad Hershbein, WE. Upjohn Institute for Employment Research 13,184 SF Ofc Warehouse Bldg 23823 23831 Andrew Road, Plainfield Multi-Tenant OfficeWarehouse Building 1.06 Acres Zoned 1-1 (2) Grade-Level Drive-In Doors 3-Phase Electrical Service Flexible Space (78) Pick-up Trucks (8) Flat Bed Trucks Truck Tractor (3) Service Body Trucks (7) Vans (15) SUVs Excavator Wheel Loader Rough Terrain Cranes Crawler Tractor LoaderBackhoe Forklifts Skid Steer Loader Trailers Boring Machine Welding Equipment Pipe Equipment Hydraulic Rebar ShearBender Air Compressors Buses Shipping Containers Portable CMM Job Site Equipment NOTE: Some items will be sold online only on March Buyer's Premium Applies Attend or Bid D. Muslin IN Lie.

No. AU1 10001 38 Online at BidSpotter.com 105 Revere Drive, Suite auction Northbrook, IL 60062 224.927.5320 salespplauction.com Broker Participation is Invited! Preview: By Appointment See WebsiteforFjIITerms and Conditions Cases. 14-CH-0174B 10 Bnyers Premwm JemfsT.Pike441iMlffi2S14S. 161133 (855) 353-1100 -tfpiV www.PeakAuction.com OPEN TO THE PUBLIC rm. ftraJufl I lT reers could be a factor.

It could be that the poor are attracted to careers where they help others positions that often are low-paying. If that's the case, students need to be aware that although they are going to college, they may not get the level of pay they expect based on pursuing a bachelor's degree, he said. That awareness is crucial as students take on student loan debt. As a rule of thumb, monthly payments on student loans after college should require no more than 8 percent of a person's monthly salary. Another possibility has been suggested by other studies: Students from low-income backgrounds tend to choose lower-quality colleges.

Studies show that the quality of a college not just a degree matters. More selective colleges may provide a broader network for students, giving them advice on how to advance and introductions to people who can help them. In fact, in one study, economists Alan Krueger and Stacy Dale found that attending elite colleges was not significant in outcomes for affluent students but helped low-income students considerably. Krueger noted that people from more affluent backgrounds have networks through their families and other contacts that can help them advance. Low-income students, without built-in networks, can gain access to influential networks through highly selective colleges.

Hershbein said low-income students who would qualify for more selective colleges often don't apply to those colleges because they have not had contact with them. Growing up in low-income communities, the students haven't seen their friends going anywhere but state college nearby, he said. And selective colleges also "are not reaching out to low-income students." Saturday March 19, 2016 Registration at: Auction Begins: Sneak Peak: Friday 31816 12PM-6PM Kane County Fairgrounds 525 Randall Rd St Charles, Illinois 60174 Solid Hardwood Flooring, Kitchen Cabinets, Tile, Mosaic Tile, Granite Counter Tops, Interior Exterior Doors, Decking, Decorative Lighting, Trim Molding, Decking, vanities, Toilets, Faucets, and So Much More. Closes March 9-1 1 201 Minneapolis MN location; Features: 201 5 Biesse Roxyl 5.5 Edgebander; Weeke Machining Centers; Weima WLK1 8J Waste Grinder; Joos HP-150 5x1 2 Hot Press; Ligmatech MPP 1 00 Auto Case Clamp; Comil Biesse CF-2000 Case Clamp; Dowel Insertion Machines; Full Plant of Equipment, over 650 Lots! Bid at www.machinerymax.com Call Eric Beach 1-704-608-9830 Gail MarksJarvis On Money College is supposed to be the great equalizer the way to pull yourself out of a low-income background and position yourself for a better shot at the American Dream. But does it work? Yes, somewhat, but college is not as powerful as you might believe.

Although low-income students do give themselves an earnings boost by getting a bachelor's degree, they don't come close to students from middle- or high-income backgrounds with the same degrees, according to a new study. Four-year graduates from middle- or higher-income families earn 162 percent more over their careers than those who stopped their education after high school, said one of the researchers, economist Brad Hershbein of the W.E. Upjohn Institute for Employment Research. But college graduates from low-income backgrounds only increase their lifelong earnings 91 percent. "An increase of 91 percent is still pretty good," but it "is much less" than the 162 percent boost, Hershbein said.

That difference in lifetime earnings would likely be a shock for people who grew up poor and figured putting the effort into earning a bachelor's degree would help them like anyone else finishing college. Along with economist Tim Bartik, Hershbein tracked people from age 25 to 62, using family data collected in the national Panel Study of Income Dynamics. The researchers identified 25-year-olds from low-income backgrounds by focusing on families with children who qualified for free or low-cost school lunches through the federal assisted school lunch program. Their incomes were slight- www.peakauction.com Call 800 245 Antique, '50s, '60s, '70s, Modern Furniture Jewelry Bronzes Fur Coats Watches Paintings Stained Glass Silver Items Antq. Clocks Figurines Oriental Rugs 9690 I 1 1 1 1 1 1 1 1 1 1 1 Thursday, March 10th 10 AM By order of secured party Holmes Testing, Inc.

1 70 Shepard Avenue, Wheeling, Illinois Complete Soil Testing Facility Featuring: 2006 Freightliner Ford F-550 Drill Rigs (4) Chevrolet Silverado 2500 HD Pickup Trucks Trailers Forney Tinius Olsen Compression Testers Rainhart Sifters Thermatron Environmental Chamber Compactor, Ovens, Furnaces.Ring Testers, Scales (15) Humbodlt Troxler Nuclear Density Gauges Air Compressor Concrete Saw 20' Seatainer More! Bid Onsite or Online at www.bidspotter.com Buyers Premium 15 Onsite, 18 Online Inspection Wednesday, March 9th, 9 AM 4 PM Illinois Auction Licenses Firm License 444.000423 David E. Heath 441 .001552 Stephen C. Stabiner 441 .0001 80 Thomas K. Mowery 441 .001862 Duffner Platinum Rinn "Golden Weddina'" 897 French Kirby Fantastic Four wo, Auiograpnea ireK rnoio; China Set: daudi port Lorrain (Brussels Exposition) Poster; Jack Orig. Artwork Page (Issue ciuue ujmcuiun ui Vwur rc-, Dr.

Victor Not Authenticated and are jiiici3. ii3taic i aiiitniua, 1 raperweigni Loneqion; rdimuiKp syu. Diauue, naoui Run. Rmwn Tarrwvrv F. I w.

Karhara 'airfings sgd. Picasso. Braque, Kaoul tufy, Bolero, Tamayo, F. Leger, Barbara leftwnrth. Feininiw.

P.C. monHriaan. 1 Hepworth, Feininger, P.C. Mondriaan, D.nar ifl irnniJ Art uther Items are uiauni. uc iuuiiiiiu, sold as is without guarantee or warranty.

All assets in this sale will be offered in bulk, subject to individual bids. Some assets may be grouped and offered in smaller bulk parcels, subject to individual bids. Chicago Art Dealer Estate (continuing) Other Estates Consignments Apprx. 700 Lots). Complete Listing, Details, Photos, YouTube Video Tour Link are updated thru Monday at i il in 1 1 In IM VIEWING: MON.

PM; TUES. 2-3 PM Absentee Bids Accepted! 17.5 Buyer's Premium (2.5 Cash Discount on B.P.); Sates Tax (if applicable). Consignments Accepted for Upcoming Auctions, One Piece or an Entire Estate. 1 AVIATION SURPLUS to the ONGOING NEEDS GE 2034 Latimer rriue, Muskegon, Nil 49442 ly above the poverty line. To meet the school lunch criteria, a family of four would have a $36,000 income, Hershbein said.

"The earnings gap between the poor and non-poor college graduates also widened as time passed," Hershbein said in a recent report for the Brookings Institution. Immediately after college, the pay the low-income grads received was about a third lower than graduates who had come from families with more money. But by mid-career, the advantage of a college education slipped. In their 40s, the college graduates from low-income backgrounds were making only half of what graduates from nonpoor households were earning. By their late 50s, college graduates who grew up poor saw their earnings decrease substantially, falling to the same level as at the start of their careers, the researchers report The graduates raised by higher-income families experienced some decline late in their careers, but a much smaller one.

The researchers have not yet identified causes for the vast pay difference. One possibility could be that people raised in higher-income families are more likely to pursue graduate degrees. People with graduate degrees tend to make more money. But the researchers determined that advanced studies were a small factor in the immense difference in earnings. Hershbein said the choice of majors and ca On Thursday, the City Colleges board of trustees, with the blessing of City Hall, quietly authorized participation in the Federal Communications Commission incentive auction for WYCC's piece of the broadcast spectrum.

The news was buried in a small note on the board's website. Winer quits WXRT: Chicago radio legend Norm Winer, who's been the heart and soul of WXRT-FM 93.1 for 37 years, resigned Wednesday just weeks after he lost his position as program director of the CBS Radio adult album alternative station. "I have decided to leave WXRT and CBS Radio," Winer wrote to his staff. "I have been exceptionally fortunate to have been here, surrounded by people who mean so much to me." Since Jan. 13, Winer had been relegated to a vaguely defined role as director of WXRT music initiatives and special programming.

The job of program director was eliminated, and Winer's former duties were divided between operations director Mitch Rosen and music director Kelly Ransford. Winer, 67, never publicly embraced his new position and declined to comment when it was announced in a statement by Rosen. Sources said Winer was unhappy with the change and chafed in the diminished post under Rosen. Tribune Media plans asset sale: Tribune Media, Chicago-based parent Mayor changes mind, City Colleges selling WYCC 155 Washburn St. Elgin, IL 60123 (847) 742-4138 www.auctionconsultants.net Bidding Ends: Wednesday, Marcti 9th at 1 pm Contact Us for Inspection Appointment (ET) TIMED WEBCAST AUCTION Bid online at bidspotter.com Bid: Featuring; Huffman 5-Axis CNC Pi utile Grinders (3) Facial VMC-1 5XT CNC Vertical Machining Centers 2004 Liburdi 5-Axis Robotic Welding Cell (3) Motoman 6-Axis Robots 2007 Beaumont 5-Axis CNC EDM Drill (11) EDM Machines (All lypes) Optical Comparators Toolroom Equipment Ovens Plus More' er.com Check wBLOC, Buyers Premium: 18 On-Line BIDDING ENDS SATURDAY, MARCH 12 LIVING ESTATEOWNER DOWNSIZING Wadsworth, IL Hand Power Tools, Band Table saws, Woodworking, Reloading Supplies by Redding, RCBS, Ammo, Red Head Safe, Survival Food Equip.

Lawn care, Ariens 3 stage snowblower, Vintage Sewing Machines, Knives by Boker, CRKT, Columbia, AF Talon .22 Ca, Airgun wscope, Great White Tank. 1 984 Mercedes Benz 500SEL, 88K Mi. Original Owner. Viewing: Monday, March 7th 1 lAM-4pm Under the Management Ol: GE Capital ROSTER INDUSTRIES M-l)-r(T() uwv kotfniiii hick's, nil 11 1 6.5 Buyers Premium Will Apply TERMS: Certified Check, Co. gmarksjarvistribpub.com Twitter gailmarksjarvis company of WGN-Chan-nel 9 and WGN AM 720, took the first step Monday in selling off its assets.

In its latest earnings report it announced the hiring of Moelis Co. and Guggenheim Securities to explore a possible sale. "The strategic and financial alternatives under consideration include, but are not limited to, the sale or separation of select lines of business or assets, strategic partnerships, programming alliances and return of capital initiatives," the company said. Holdings include 42 TV stations nationwide, WGN America, Antenna TV and Gracenote. New hats and coats for WFLD: The station that told its reporters they couldn't wear hats in winter now has them wearing bright red jackets branded with the company's logo.

Fox-owned WFLD-Chan-nel 32 ordered the emblazoned coats and headgear after the station was ridiculed here for telling staffers they had to go hatless during live shots. (Fox 32 boss Dennis Welsh later disavowed the edict, calling it "5,000 percent not a station One insider called the new red regalia "a typical overreac-tion by management." Feder operates independently under a licensing agreement with Chicago Tribune Media Group. To get unlimited access to the Tribune's content online, including roberifeder.com, register at Robert Feder Last fall, Mayor Rahm Emanuel flatly rejected a suggestion I made to sell the license of WYCC-Channel 20 in a government-sponsored auction, which could result in a potential windfall for the financially strapped City Colleges of Chicago. "Chicago should sell the station because the city is in desperate financial straits, and the marketplace is offering an extraordinary premium for Channel 20's broadcast bandwidth," the Chicago Tribune editorial board wrote in support of my idea. "There are other ways to teach college kids the media business besides operating a little-watched TV station via the 20th century technology of a broadcast transmitter and rabbit ears." But even as the Tribune and other prominent voices agreed with me that a sale could reap as much as $474.2 million without compromising the educational mission of the station, the mayor seemed to be missing trie point "Why would you auction something off for financial gain when our kids, our students are making huge educational gains learning at the station?" Emanuel said at a news conference.

In other words, he was adamantly opposed to it Until he changed his mind. AN EMAIL FROM US COULD MEAN A BIGGER SALARY FOR YOU. It only takes a minute to sign up for custom job alerts on CareerBuilder.com, where recommended jobs are sent straight to your inbox, Use the other four minutes to email your mom, She misses you, TAKE FIVE MINUTES A DAY TO BUILD A BETTER LIFE, careerbuilder a 20 ij CareerBuilder, LLC. All rights reserved..