The Number: $20.21
That's the average wage of recent four-year college grads, according to the Economic Policy Institute - about $42,000 a year. That's about the same as it was 20 years ago, adjusted for inflation. Meanwhile, the average American's student loan burden has grown faster than the Grinch's heart on Christmas morning in the past two decades. So, if you're still looking for that perfect graduation gift... it's definitely money.
The Word: "Any income or earnings depicted are not to be interpreted as common, typical, expected or normal. ... In fact, you can lose money in real estate like any other investment," reads the fine print on a Than Merrill Real Estate Class that's coming to Duluth at the end of the month, ads for which briefly bombarded my Facebook feed. I am neither endorsing nor dissuading your attendance at this FortuneBuilders event, I just like making the fine print bigger.
The Lead: Cirrus Aircraft is opening another location outside Duluth, this time in the Dallas region. The facility at the McKinney National Airport will serve the "heavy concentration of Cirrus customers within the region" with factory service starting this August and flight training, maintenance and aircraft management to join in late 2020, the company said. The Cirrus Services center in Knoxville, Tenn., opened in 2016, and news releases now contain both Duluth and Knoxville datelines.
The Listing: Oh, hindsight. The Home Builders' Clinic Demonstration Home, billed as "The House That Jack Built" in News Tribune promotional materials from 1923, has a floor plan that makes my knees sore just looking at it. (If you live in a house built in this era, you know what I'm talking about.) All three bedrooms, and the only bathroom, are upstairs. That's usually not a problem for young families, but as folks age into their homes and hope to stay there, or as those with disabilities search for homes, it's tough. Blame the Architects' Small House Service Bureau, which built the home, though there are plenty more like it - one on 59th Avenue West is going for $179,900 (though if your knees can handle it that kitchen is killer.)
The Meeting: Is this the right building for you?
Avoid buyer's remorse on that business expansion with an hourlong Q+A hosted by the city and The Northspan Group to "learn more about what is necessary to redevelop or reuse existing buildings and sites with real-life examples." 8 a.m. Wednesday at the Bent Paddle taproom.
The Memo is a weekly roundup of things to know, ya know? Send business news of all kinds to email@example.com and give hindsight reporter Brooks Johnson a call every now and then at 218-723-5329.