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☆ News industry off to brutal 2024 start as mass layoffs devastate publishers, raising questions about future of journalism
▼ + stars: | 2024-01-25 | by ( Oliver Darcy | Jon Passantino | ) edition.cnn.com time to read: +8 min

The recent round of layoffs, while pronounced, are part of a much larger and unrelenting storm battering the journalism industry. Over the past 18 months, most news organizations have been forced to make difficult decisions to reduce their workforces. “I am sorry to say that I do not see turning around most legacy outlets,” Jeff Jarvis, the Leonard Tow Professor of Journalism Innovation at the Craig Newmark Graduate School of Journalism, told CNN. Dan Kennedy, a journalism professor at Northeastern University, noted some local news outlets have found financial sustainability. “There are reasons to be optimistic given the hundreds of independent local news organizations that have sprouted up in recent years,” he said.

Persons: Condé Nast, ” Jay Rosen, “, Jeff Jarvis, Craig Newmark, ” Jarvis, ” Rosen, Steve Bannon’s, Margaret Sullivan, Sullivan, ”, ” Sullivan, Jeff Bezos ’, Patrick Soon, Dan Kennedy, Shiong’s, Jeff Bezos, ” Kennedy, Rosen Organizations: CNN, Los Angeles Times, Business, Condé, Forbes, The New York Daily News, Washington Post, NPR, Vice Media, Sports, Vox Media, NBC News, CNBC, Gannett, Netflix, Columbia University, Google, Meta, New York University, Craig Newmark Graduate School of Journalism, America, Guardian, The Washington Post, The New York Times, “ Democracy, Jeff Bezos ’ Washington Post, Northeastern University, “ Billionaire, Minneapolis Star Tribune, Boston Globe, Journalists Locations: Covid, Jeff Bezos ’ Washington

☆ Journalism professor’s six-word mantra is a blueprint for how news outlets should cover the 2024 race
▼ + stars: | 2023-11-15 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

“The stakes, of course, mean the stakes for American democracy,” Rosen told me by phone Tuesday. Needless to say, sounding the alarm on Trump’s disturbing conduct is more difficult than engaging in horse race coverage. “And [horse race coverage] is an easy way to make a complicated subject come alive for audiences,” Rosen added. “Rather, that the horse race should not be the model for how you design your coverage. “We are getting more and more stakes journalism from our national media,” Rosen said.

Persons: CNN — “, Jay Rosen, Rosen, —, ” Rosen, “, Donald Trump, they’re, ” That’s, “ Rather, ” Organizations: CNN, York University, The New York Times, Washington Post, Associated Press, MSNBC Locations: U.S

☆ Atari 2600+ sees its future in retro gaming — and maybe in a handheld too
▼ + stars: | 2023-09-30 | by ( Michael Nam | ) edition.cnn.com time to read: +4 min

CNN —The Atari home video game system took the late1970s and early 1980s by storm, complete with faux wood paneling and a classic joystick with a big red button. Centipede - Atari 2600 VCS Videogame ArcadeImages/Alamy Stock PhotoWith Rosen at the helm, the company is taking a closer look at its own history to chart its future, releasing remastered or reimagined versions of its classics like “Missile Command” and “Centipede,” producing the critically acclaimed “Atari 50” interactive documentary, and introducing its soon-to-be released retro console the Atari 2600+. They’re radically different things.”The retro console arrives in November at a $130 price point and in a more compact version. While it comes packaged with 10 games in a single cartridge, the console will also play new titles and work with original Atari 2600 and 7800 game cartridges. Atari is reimagining the classic "Haunted House" video game.

Persons: Wade Rosen, Rosen, ” Rosen, “, They’re, ”, Tengku Bahar, there’d, It’s Organizations: CNN, Atari, “, Command, Getty, Nightdive Studios, Nintendo, PlayStation Locations: Hong Kong, AFP

But the Fearless Fund is a tiny player in the approximately $200 billion global venture capital market. Less than 1% of venture capital funding goes to businesses owned by Black and Hispanic women, according to the nonprofit advocacy group Digitalundivided. The lawsuit against the Fearless Fund was filed by Edward Blum, the conservative activist who filed the affirmative action cases before the Supreme Court. Fearless Fund has invested more than $2 million in Thirteen Lune, founded by Nyako Griego. The combined share of venture capital funding received by Black and Latina founders briefly surpassed 1% in 2021 before dipping back below that threshold in 2022, according to Digitalundivided.

Persons: ”, Arian Simone, it's, Simone, ” Simone, Fearless, Edward Blum, Blum, ” Blum, Ben Crump, Marc Rosen, Thirteen, Sephora, Kohl's, Rosen, They’re, ” Rosen, Nyako Griego, George Floyd, Morgan Chase, Associated Press Retail Writers Anne D'Innocenzio, Haleluya Hadero Organizations: Fearless Fund, Black, Associated Press, Civil, American Alliance, Equal, AP, Fund, Court, Latina, Bank of America, Mastercard, Associated Press Retail Writers Locations: Atlanta, Texas, Florida, U.S, Lune

WASHINGTON (AP) — The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States. “National security is a foremost priority, and we deploy a wide range of tools to safeguard it,” Treasury Secretary Janet Yellen said Thursday. The federal government reviews and can block business activity of non-U.S. companies through the Committee on Foreign Investment in the United States, also known as CFIUS. At a conference dedicated to the committee, Yellen emphasized that CFIUS is adapting to a changing global economy as national security issues related to China are a primary consideration. “As new threats and vulnerabilities emerge, our national security priorities shift in response,” Yellen said.

Persons: —, Biden, Janet Yellen, Yellen, ” Yellen, “ We've, ByteDance, LIV, Paul Rosen, ” Rosen, Joe Biden, Donald Trump, ”, Patrick McHenry Organizations: WASHINGTON, Foreign Investment, State, Justice, Energy, Commerce, Twitter, PGA, U.S, Washington, Financial Locations: United States, U.S, China, Beijing, R

☆ Americans have never been wealthier
▼ + stars: | 2023-09-11 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Consumer wealth has now completely recovered from the recent inflation-driven drop in stock prices and real estate holdings. This bump in wealth was driven mostly by a surge in the value of Americans’ stock market investments, which grew by $2.6 trillion during the quarter. Those rate hikes rocked financial markets, crushing the value of stock holdings, cooling the housing market and raising the specter of a recession. “Further, volatility in wealth since the onset of the pandemic will remind households of the fragility of any gains.”The stock market has rebounded in tandem with the US economy. And there are signs that some Americans are struggling to get by.

Persons: specter, “, Goldman Sachs, Janet Yellen, Joe Biden’s, Marc Rosen, ” Rosen Organizations: New, New York cnn, Federal Reserve, Moody’s Analytics, Bloomberg News, White, CNN, Wall Street, New York Federal Reserve Locations: New York, United States

☆ JCPenney CEO: Working families are struggling to get by as inflation bites
▼ + stars: | 2023-09-05 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —JCPenney CEO Marc Rosen sees plenty of evidence that working-class families are struggling. “And that customer is facing a tougher economic environment.”The JCPenney CEO pointed to the snowballing effect inflation has had on family budgets, noting that the typical household is spending about $700 more per month than they did two years ago for the same goods and services. He pointed to strong private brand sales for apparel as well as for home goods like cookware and small appliances such as blenders and toasters. The JCPenney CEO wouldn’t directly answer whether the department store plans to return to the public markets through an initial public offering. “We think there are a lot of advantages right now to being a private company,” Rosen said, noting that JCPenney’s owners are reinvesting in the company and are taking a “long-term perspective” on that investment.

Persons: Marc Rosen, Liz Claiborne, Rosen, ” Rosen, delinquencies, “, JCPenney, wouldn’t Organizations: New, New York CNN, CNN, “, JCPenney, New York Federal Reserve, ” Bank of America, Simon Property Group, Brookfield Asset Management Locations: New York

☆ Taylor Swift and the Economics of Superstar Tours - The New York Times
▼ + stars: | 2023-06-20 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

In particular, as I’ll explain, the real puzzle here is why Taylor Swift doesn’t make even more money. Inspired in part by the work of my late former colleague Alan Krueger, I have in fact weighed in on Taylor Swift in historical perspective before. So, Taylor Swift makes a lot of money. But on the surface, that’s not what’s happening with Taylor Swift or Beyoncé. They’re making huge sums not mainly from record or streaming royalties but from concerts — which is, by the way, normal.

Persons: Taylor Swift, Alan Krueger, Sherwin Rosen, ” Rosen

☆ Beware the ‘pig butchering’ crypto scam sweeping across America
▼ + stars: | 2022-12-26 | by ( Josh Campbell | ) edition.cnn.com time to read: +6 min

New York CNN —The FBI says America has a “pig butchering” problem. “We’re talking about a cryptocurrency investment scam that is sweeping the country.”The term pig butchering refers to an unsuspecting victim — the “pig” — being tricked by scammers into forking over money for a promised high rate of return. Once criminals “fatten up” their victims’ digital wallets, they steal the money, Rosen says. “Online criminals’ scams are only limited by their imagination, and they have an impeccable sense of timing,” says Fisher. “They will not make you pay in advance to collect your money.”There were approximately 60 fake sweepstakes victims in New Mexico alone last year whose collective losses totaled $1 million, he says.

☆ Black Airbnb guest shot by neighbor while walking to grocery store, officials say
▼ + stars: | 2022-12-12 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

The 21-year-old victim had left his Airbnb to walk to a nearby grocery store on the night of the shooting, prosecutors said. When he crossed the street, he saw Waters exit a home and “quickly approach him while holding a black handgun,” the district attorney’s office said. Video footage of the shooting was also obtained from a nearby neighbor, prosecutors said. He was arrested and booked into Santa Clara County Jail and will be arraigned Monday in San Jose. NBC News has reached out to the San Jose Police Department and an attorney listed for Waters for comment.

☆ JCPenney was once a shopping giant. Can it make a comeback?
▼ + stars: | 2022-11-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +14 min

People walk past a JCPenney store at the Queens Center Mall in New York in 2016. The Denver Post/Getty Images Shoppers hurry across an intersection in front of a JCPenney store in Denver in 1964. Anne Cusack/The Los Angeles Times/Getty Images Customers shop at a new JCPenney store in New York in 2009. Mary Altaffer/AP A customer goes down an escalator at a JCPenney store in Westminster, Colorado, in 2009. Don Emmert/AFP/Getty Images JCPenney CEO Jill Soltau speaks during an interview in Fort Worth, Texas, in 2019.

☆ Meta calls out India's The Wire, says it published stories based on fabricated documents
▼ + stars: | 2022-10-11 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Meta has publicly made the very serious charge that The Wire irresponsibly published two widely circulated articles based on fabricated documents, and The Wire has responded by digging its heels entirely into the sand. The dispute began on Monday when The Wire published what appeared to be an explosive story: that a top official in India’s ruling party effectively had the ability to unilaterally scrub posts from Instagram. Later that day, however, Meta spokesperson Andy Stone poured cold water on it. The outlet said that it had obtained an email where Stone appeared to privately acknowledge the documents were authentic. Others piled on by pointing out red flags with the supposed Stone email.

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