Editor’s note: This story has been updated to clarify its original publication to reflect that the Live After Five will take place at the Crest Stage on North Boulevard today.
The show must go on: Live After Five is set to take place at its regular time today, as contractors resume work to repair compromised steel beams on the fourth floor of the new library branch under construction near the concert site. Structural concerns at the library—at the intersection of North Boulevard and St. Louis Street—led city officials Wednesday to halt work at the construction site, evacuate nearby businesses and government offices, and close access to a portion of North Boulevard. City Hall and the businesses were allowed to reopen at noon Thursday, and Live After Five organizers say they have the OK to carry on as planned. Live After Five is from 5 p.m. to 8 p.m. at the Crest Stage on North Boulevard. Werewolf, The Legendary 80s Cover Band will perform.
Blue collar work: News that Amazon’s Prime program has more than 100 million members dominated headlines earlier this week. But buried in the company’s latest financial disclosure was another eye-opener: The median annual salary at Amazon is just $28,446, Quartz Index reports, meaning half of its employees make less than that amount. The median annual wage is stunningly low, compared to tech giants like Google and Facebook where the median salaries are around $155,000. In part, that’s because a large number of Amazon workers are not executives and engineers but, rather, blue-collar warehouse workers.
In the bank: An analysis by The Associated Press shows the nation’s six big Wall Street banks saved at least $3.59 billion in taxes last quarter, thanks to the recently enacted Trump tax law. Banks typically kick off the earnings season, and their reports for the January-March quarter are giving investors and the public their first glimpse into how the new tax law is impacting Corporate America. Banks historically paid some of the highest taxes, due to their U.S.-centric business model. Before the Trump tax cuts, these banks paid between 28% to 31% of their income each year in corporate taxes.The results show why banks supported the tax overhaul. Tax rates at banks such as JPMorgan Chase, Goldman Sachs and Morgan Stanley dropped to between 17% and 23%.
