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☆ A staggering amount of money is slipping away due to the Baltimore bridge collapse
▼ + stars: | 2024-03-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Experts told Business Insider that the port alone contributes $15 million in daily economic activity, which will come to a near standstill "until further notice." While some cargo will have to wait, container ships can largely be rerouted to other east coast locations. Ryan Peterson, the CEO of global logistics firm Flexport, told Business Insider that 800 containers of his were destined for Baltimore, and are now being rerouted. And it's unclear whether East Coast ports will have enough available capacity to absorb Baltimore's container volume, Petersen said. A risk for Baltimore will be whether those route changes are temporary, or if they'll have a lasting impact on the port's business.

Persons: —, Baltimore's Francis Scott Key, Port, Anirban Basu, It's, Basu, Daraius Irani, Ryan Peterson, Petersen, we're, Martin Dresner Organizations: Service, Business, Sage Policy, Regional Economic Studies, Towson University, University of Maryland's Smith School of Business Locations: Port of Baltimore, Baltimore, East Coast, West Coast

☆ Baltimore port closure could cost $15 million per day in lost economic activity
▼ + stars: | 2024-03-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The Port of Baltimore is closed "until further notice" following the collapse of a major bridge. Experts say the closure alone will bring some $15 million of daily economic activity to a halt. Experts told Business Insider that the port alone contributes $15 million in daily economic activity, which will come to a near standstill "until further notice." While some cargo will have to wait, container ships can largely be rerouted to other east coast locations. And it's unclear whether East Coast ports will have enough available capacity to absorb Baltimore's container volume, Petersen said.

Persons: —, Baltimore's Francis Scott Key, Port, Anirban Basu, It's, Basu, Daraius Irani, Ryan Peterson, Petersen, we're, Martin Dresner Organizations: Service, Sage Policy, Regional Economic Studies, Towson University, University of Maryland's Smith School of Business Locations: Port, Baltimore, Port of Baltimore, East Coast, West Coast

☆ Americans have no idea how to use their free time
▼ + stars: | 2024-03-26 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +11 min

It's true that Americans are overworked, overstressed, and generally awful at unplugging from work, two time-use researchers told Business Insider. But the vast majority of Americans' leisure time is spent — you guessed it — in front of the television. Watching TV is the most popular leisure activity, accounting for an average of 2.8 hours a day — more than half of all Americans' leisure time. Americans' spend more time watching TV than any other leisure activity. AlavinphotoSexism and the safety netThere is also a gendered element at play when it comes to Americans' leisure time.

Persons: —, It's, I'm, Brigid Schulte, Liana Sayer, Sayer, Sayers, Schulte, Ciara Kelly, Kelly, We're Organizations: Service, Netflix, Business, Bravo, University of Maryland's, Organization for Economic Co, Development, World Economic, US, The University of Sheffield Locations: America, France, Finland, Belgium, Italy, Germany, Spain, Japan, UK

☆ Americans have between 4 and 6 hours of leisure time daily. We just have no idea how to use it.
▼ + stars: | 2024-03-26 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +11 min

AdvertisementDespite class differences, 95% of Americans over the age of 15 engaged in some kind of leisure activity on a typical day, according to the 2022 time-use survey. But the vast majority of Americans' leisure time is spent — you guessed it — in front of the television. Watching TV is the most popular leisure activity, accounting for an average of 2.8 hours a day — more than half of all Americans' leisure time. Americans' spend more time watching TV than any other leisure activity. AlavinphotoSexism and the safety netThere is also a gendered element at play when it comes to Americans' leisure time.

☆ Warren Buffett's Berkshire keeps new stock pick secret — again. Here's what it means
▼ + stars: | 2024-02-18 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

A new stock pick from the 93-year-old Buffett almost always leads some investors to follow suit, quickly moving the share price. Berkshire has been a longtime shareholder in credit rating agency Moody's , and bought a big stake in Citigroup in early 2022. The last financial stock Berkshire bought was Capital One Financial in the first quarter of 2023. If the new stake ever exceeds 5% of whatever stock it is, Berkshire would be required to report its holding with the SEC. Buffett might be asked to reveal the identity of the mystery stock at Berkshire's annual shareholder meeting in early May.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Todd Combs, Ted Weschler, Berkshire's, Goldman Sachs, David Kass, University of Maryland's Robert H, Jamie Dimon, Kass, there's Organizations: Berkshire, The Securities, Exchange, Chevron, Verizon, Apple, Buffett, Bank of America, American Express, Citigroup, Mastercard, Visa, JPMorgan, U.S . Bancorp, Bank of New York Mellon, University of Maryland's, Smith School of Business, outperforming Bank, SEC Locations: Omaha, Berkshire, McLean, Va, Wells, outperforming

“As it stands, the policy makes little sense,” Oversight Board co-chair Michael McConnell said of Meta’s policy in a statement on Monday. Spokesperson Corey Chambliss said while audio deepfakes aren't mentioned in the company's manipulated media policy, they are eligible to be fact-checked and will be labeled or down-ranked if fact-checkers rate them as false or altered. Meta created its oversight board in 2020 to serve as a referee for content on its platforms. The board also noted that some forms of manipulated media are made for humor, parody or satire and should be protected. Meta said on its website that it welcomes the Oversight Board’s ruling on the Biden post and will update the post after reviewing the board’s recommendations.

Persons: Joe Biden, Michael McConnell, Meta, Corey Chambliss, Meta’s, Biden, Jen Golbeck, “, ”, Barbara Ortutay Organizations: Facebook, Meta, Pew, YouTube, Biden, University of Maryland's College of Information Studies, Associated Press, AP Locations: U.S, San Francisco

The largest was in cases where defendants plotted violent attacks that ultimately failed or were foiled, where international defendants received an average prison sentence of 11.2 years, compared with 1.6 years for domestic defendants. For violent cases that led to injuries, domestic defendants received on average 8.6 years, versus 34.6 for international defendants. The disparity was smaller, but still significant, in violent fatal attacks with domestic cases at about 28.8 years and international cases at about 39.2 years. People charged in violent domestic cases also often faced less serious charges not often associated with crimes of terror, like illegal possession of firearms, the study found. “These domestic terrorists are being treated more like run-of-the-mill criminal defendants and receiving sentences far below those of international terrorism defendants,” he said.

Persons: Joe Biden, America ”, ”, Shirin Sinnar, Jan, START’s Michael Jensen, —, Pete Simi, “, Simi, Sinnar, ” Sinnar, George Varghese, Timothy Kelly, Proud, Enrique Tarrio, Zachary Rehl, Kelly, Rehl, Jensen, ___, Jason Dearen, Michelle R, Smith Organizations: University of Maryland, Associated Press, Boys, Stanford Law School, AP, University of Maryland's National Consortium, Center, Health and Homeland Security, U.S, Chapman University, State Department, National Guard, United Locations: America, U.S, radicalizing, York, jdearen@ap.org, Investigative@ap.org

☆ Warren Buffett, who turns 93, is at the top of his game as he pushes Berkshire Hathaway to new heights
▼ + stars: | 2023-08-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Berkshire shares have roared back to an all-time high on record operating profit, making it the biggest non-tech company by market capitalization. Warren Buffett took control of Berkshire Hathaway in 1965, and nearly six decades later as the "Oracle of Omaha" turned 93 Wednesday, his conglomerate is stronger today than it's ever been. Buffett likens the iPhone maker to a consumer products company and has said he is also attracted to its big buyback programs. "It's groundbreaking in the sense that I'm not aware of any prominent investor, hedge manager investing in Japan," Kass said. They touched on every top-of-mind topic for investors from the banking crisis to recession risks and even crypto.

Persons: David Kass, University of Maryland's Robert H, Buffett, Warren Buffett, Berkshire Hathaway, Greg Abel, Kass, Capital's Palihapitiya, Charlie Munger Organizations: University of Maryland's, Smith School of Business, Buffett, Berkshire, Mitsubishi, Mitsui, Sumitomo Locations: Berkshire, Omaha, Japan

☆ Warren Buffett’s must-read annual letter arrives Saturday. Here’s what to expect from the investing legend
▼ + stars: | 2023-02-24 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Andrew Harnik | APWarren Buffett's loyal following of value investors is about to hear from the legend himself, at a crucial time when interest rates have soared and recession fears are raging. He believed that when interest rates are high, it could be a major "gravitational pull" on values. "We have a roughly 15-year period of abnormally and historically low interest rates. "Interest rates are the main determinant of equity prices, to quote Buffett, so I think I'm looking for and expecting a discussion on interest rates." "Private equity and others who are thinking of making acquisitions would have to go into the market to borrow [at] higher interest rates.

☆ Warren Buffett's 91st year marked by a huge focus on Berkshire Hathaway's energy empire
▼ + stars: | 2022-08-30 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Warren Buffett turns 92 on Tuesday, having spent the past year expanding further his Berkshire Hathaway energy empire, making a classic value investor's bet. Plus, many energy stocks have found themselves with torrents of cash flow since the economy reopened following Covid lockdowns. "All of this just sounds like the perfect Berkshire Hathaway stock." If Berkshire continues to ramp up its Occidental investments and makes the position a controlling one, it probably reflects the influence of Greg Abel, Buffett's likely successor who has been leading the conglomerate's energy unit Berkshire Hathaway Energy. Berkshire acquired MidAmerican Energy in 1999, and Abel became CEO of MidAmerican Energy in 2008, six years before it was renamed Berkshire Hathaway Energy in 2014.

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