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☆ No More Work Friends: Personal Relationships on the Job Are Overrated
▼ + stars: | 2024-06-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

We spent weeks planning a "cake party" for our other work friends. The general line is that work friendships are good because social connections at work keep people productive and engaged and help them manage stress. On a fundamental level, work friendships aren't the same as friendship friendships. Advertisement"I think we should try to bring our best professional selves to work, but why should we bring our intimate selves to work?" There's space for moderation, though, or even the chance to shed some work friendships for good.

Persons: Jennifer, Jen, I'm, I've, trickier, It's, who's, There's, Constance Noonan Hadley, William Chopik, Hakan Ozcelik, Ozcelik, Jane, Joe, Emily Stewart Organizations: Business, Institute for Life, Employees, Michigan State University, College of Business Administration, Sacramento State University Locations: Hadley

☆ Social Security's 'biggest myth' leads people to claim early, expert says. Even a slight delay can boost retirement income
▼ + stars: | 2024-05-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Nevertheless, 75% of adults ages 50 and up believe Social Security will run out in their lifetime, a 2023 Nationwide Retirement Institute survey found. When people claim Social SecurityMoreover, data shows retirees often don't wait until they are able to receive 100% of the benefits they've earned. The full retirement age is generally between 66 and 67, depending on an individual's birth date. For every year beneficiaries wait past their full retirement age up to age 70, they stand to get an 8% benefit increase. Every month increases your benefitsNevertheless, experts say it's still generally best to delay claiming retirement benefits.

Persons: Emerson Sprick, they've, —, Warren Buffett's, Suzanne Shu, John Payne, Teresa Ghilarducci, Sprick Organizations: Security, Center, Social, Institute, Social Security Administration, Finance, Cornell University SC Johnson College of Business, Duke University Fuqua School of Business . Workers, The New School for Social Research, CNBC Locations: New

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ Opinion: Boeing needs a completely different kind of boss
▼ + stars: | 2024-03-27 | by ( Opinion Tim Hubbard | ) edition.cnn.com time to read: +4 min

I am the backup plan.”Tim Hubbard University of Notre DameNow Boeing needs a backup to the backup. What does the portrait of an ideal leader for Boeing look like? Boeing’s new CEO needs to signal change. Boeing’s new CEO needs to embody the company the board wants Boeing to become. If the new CEO needs a blueprint of what their legacy could look like, they need only read up on the not-so-recent history of Boeing.

Persons: Tim Hubbard, CNN —, Dennis Muilenburg —, Max, David Calhoun, “, Tim Organizations: Management, Organization, Mendoza College of Business, University of Notre Dame, CNN, Boeing, Tim Hubbard University of Notre Dame, General Electric, Wall

☆ Trump’s Truth Social is going public today. Experts warn $9 billion valuation defies logic
▼ + stars: | 2024-03-26 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

Truth Social had just 494,000 monthly active US users on iOS and Android combined in February, according to Similarweb stats provided to CNN. Even Threads had more than 10 times the number of monthly active users that Truth Social had in February, according to Similarweb. The last Trump company to go public, Trump Hotels and Casino Resorts in 1995, used the same DJT ticker symbol. Like any social media business, Truth Social faces pressure to grow its user base, expand its advertising business and build a subscription service. “If he wins in November, Truth Social will probably be the primary means of presidential communication,” said Kennedy.

Persons: Donald Trump’s, –, ”, Jay Ritter, Ritter, “, Reddit, Matthew Kennedy, Kennedy, Jonathan Macey, that’s, ’ Matthew Tuttle, Tuttle, it’s Trump, you’ve, ” “, I’m, Donald Trump, Trump, “ Donald J, TMTG, skeptically Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC, Trump, Renaissance, Truth, CNN, Facebook, Yale, Digital, Tuttle Capital Management, SEC, Trump Hotels, Casino Resorts, New York Stock Exchange Locations: New York, ”, United States

☆ Consumer advocates — and even some Realtors — hail NAR settlement: 'We've opened up the entire industry to competition'
▼ + stars: | 2024-03-24 | by ( Rob Wile | ) www.cnbc.com time to read: +6 min

Now, a landmark settlement with the National Association of Realtors is poised to upend this model. According to consumer advocates, and even some Realtors, it's a win for homebuyers and sellers. And in the months following Covid-19 pandemic reopenings, the hottest U.S. real estate markets were tipped squarely in favor of sellers. It's the same amount of money, but now the buyer gets money instead of a buyer agent, and they can decide what to do with it." What's more, greater competition for clients is likely to result in lower costs across the board, said Ryan Tomasello, a real estate industry analyst with the Keefe, Bruyette & Woods financial firm.

Persons: it's, Mariya Letdin, Letdin, they'll, Doug Miller, Miller, Ryan Tomasello, Keefe, Tomasello, Phil Crescenzo Jr, Crescenzo Organizations: National Association of Realtors, Realtors, homebuyers, Florida State University's College of Business, NBC News, U.S, NAR, Nation One Mortgage Corp Locations: Alhambra , California, Minnesota, Woods

☆ How the Canadian mortgage model could help unfreeze the housing market
▼ + stars: | 2024-03-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Read previewCopying the way mortgages work in countries such as Canada and the UK could help thaw the frozen US housing market, experts say. Prospective buyers are also balking at paying such high mortgage rates, especially when national home prices are near record levels, fueling an affordability crisis. AdvertisementOffering portable mortgages would enable hesitant sellers to keep their rock-bottom mortgage rates when they move, potentially boosting overall inventory and transaction volumes. She suggested the best fix for the frozen housing market will be if inflation cools, the Fed cuts interest rates, and mortgage rates fall to historical norms. Fannie Mae and Freddie Mac, the government-sponsored enterprises that direct the mortgage market, would have to be on board to make mortgage portability a reality, but that doesn't appear to be the case.

Persons: —, Julia Fonseca, Fonseca, Richard Martin, University of Georgia's Terry, Susan Wachter, Wachter, Fannie Mae, Freddie Mac Organizations: Service, Business, University of Illinois, University of Georgia's, University of Georgia's Terry College of Business, The Wharton School, Federal Reserve, Federal Housing Finance Agency, American Banker Locations: Canada, University of Illinois Urbana, Champaign, conservatorship

☆ Cash is no longer king. So why are we still printing so much?
▼ + stars: | 2024-02-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

An economics expert tells BI that cash still remains crucial for "certain segments of consumers." AdvertisementWhen it comes to how Americans prefer to spend their money, cash is actually not king. That represents a consistent decline in cash payments since the pandemic in 2020, which saw many shifts in consumer behavior, including an acceleration of online shopping. The following year, the study showed that cash made up 19% of payments and has not recovered since. Cash is still king of some thingsEconomics experts say that despite increasing reliance on cards, cash remains resilient and an important payment method for many consumers.

Persons: —, Cash, Christopher Bechler, Bechler, Benjamin, Sage Handley, Kenneth Rogoff Organizations: Service, Federal Reserve, . Federal, University of Notre Dame Mendoza College of Business, Business, Association for Consumer Research, Federal, Street Journal, Harvard University

This confidence is echoed by other recent metrics, including a survey by Morgan Stanley showing that consumer sentiment hit a five-month high in January. Economists who spoke to CNBC Make It say it's likely the cumulative effect of wage growth, low unemployment and slowing inflation. "But with slowing inflation and strong wage growth, adjusted-for-inflation incomes are increasing, giving consumers more buying power," he says. Wages increased 5% in January 2024, a three-month moving average of nominal wage growth for individuals, as measured by the Atlanta Fed's Wage Growth Tracker. Wage growth, slowing inflation and low unemployment are the main factors for improved optimism among Americans, Ernest says.

Persons: Morgan Stanley, what's, Robert Johnson, Here's, Gus Faucher, Johnson, Jonathan Ernest, Ernest Organizations: of Michigan, Consumers, New York Federal Reserve, CNBC, Creighton University's Heider College of Business, PNC Financial Services Group, U.S . Department of, Treasury, Federal Reserve, Stock, Case Western Reserve University Locations: New, Atlanta

☆ Opinion | This Tech Titan Wants to Turn West Virginia Into a ‘Start-Up State’
▼ + stars: | 2024-02-02 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

John Chambers grew up in West Virginia and went on to run what was once the world’s most valuable company, the computer networking firm Cisco Systems Inc. Now he is trying to help economically lagging West Virginia by making it a “start-up state” akin to Israel, which has been called the start-up nation. I interviewed Chambers recently about his hopes and the magnitude of the challenge. Chambers was born in 1949 while his parents were in medical school at Case Western Reserve University in Cleveland. He grew up mostly in Charleston, W.Va., and earned a bachelor’s degree and a law degree from West Virginia University. Chambers became a salesperson for IBM, then for Wang Laboratories, before joining Cisco in 1990, six years after the company was founded in Silicon Valley.

Persons: John Chambers, Chambers, “ Organizations: Cisco Systems Inc, Case Western Reserve University, West Virginia University, Mountain, IBM, Wang Laboratories, Cisco, JC2 Ventures, John, John Chambers College of Business Locations: West Virginia, Israel, Cleveland, Charleston, W.Va, Mountain State, Ravenswood, ”, Silicon Valley, mater

☆ Self-checkout is alienating shoppers, new research finds
▼ + stars: | 2024-01-24 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewSelf-checkout might make shoppers feel less loyal to a store, according to new research. One asked shoppers about their recent grocery-buying habits, including whether they used a self-checkout kiosk or were rung up by a human employee. In it, some shoppers read a short passage about how doing something themselves is rewarding before paying for groceries using self-checkout. But technology aimed at catching shoplifters using self-checkout has caused confrontations between Walmart employees and innocent customers, Business Insider reported. Do you work at a store with self-checkout and have a story idea to share?

Persons: —, Yanliu Huang, Farhana Nusrat, Huang, Nusrat, She's, Todd Vasos Organizations: Service, Business, Kroger, Costco, Drexel University's LeBow College of Business, Drexel, University of San, Walmart Locations: University of San Diego, Albuquerque , New Mexico

☆ Black Friday came early this year, signaling worries about holiday demand
▼ + stars: | 2023-11-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF. On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021. In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year. The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.

Persons: Barbie, Mario Tama, GlobalData, They're, it's, Daniel Rubin, John's University's Peter J, Brett House, we've Organizations: Walmart, Getty, Adobe Analytics, Adobe, CNBC, National Retail Federation Retail Monitor, ., Tobin College of Business, Columbia Business School Locations: Burbank , California, GlobalData

☆ Does the Boss Need to Weigh In on the War in the Middle East?
▼ + stars: | 2023-11-08 | by ( Emma Goldberg | More About Emma Goldberg | ) www.nytimes.com time to read: +5 min

But as an American business leader condemning Hamas’s attacks, he said, he felt surprisingly lonely. “I was disappointed that fewer leaders than I anticipated spoke out emphatically, clearly and with moral clarity on this issue,” Mr. Karp said. Some business leaders made donations to humanitarian organizations and pointed their employees to company-sponsored mental health resources. “No company does business in Gaza — as opposed to, say, in Russia, where there are 1,500 major companies doing business,” he said, comparing this war with the Russian invasion of Ukraine. “The dynamics in the Middle East have always been difficult and complex,” he wrote.

Persons: Brad Karp, Paul, Weiss, Roe, Wade, George Floyd, ” Mr, Karp, ’ ”, Iliya Rybchin, Jeffrey Sonnenfeld, Sonnenfeld, “, ”, Joelle Emerson, Andrew Ward, Gabe Zichermann, Bud Light, David Solomon, Goldman Sachs, David Zaslav, ” David Barrett, We’re, Barrett Organizations: ” Company, Hamas, Fortune, Yale School of Management, Lehigh University’s College of Business, Warner Bros, ” JPMorgan Locations: Israel, American, Gaza, Russia, Ukraine, Tel Aviv

Now, however, some firms and experts are walking back those predictions, calling into question the validity of a once-trusted recession indicator known as the yield curve inversion. Nobody rational would argue that the yield curve could have predicted a global pandemic and the short recession that followed it. NABE's most recent survey shows economists are divided on what a yield curve inversion means for the U.S. economy. In normal circumstances, yield curve inversions have been a pretty good indicator of recessions, according to Jebaraj. While the yield curve inverted in 2019, that was not necessarily a predictor of the 2020 recession.

Persons: Mervin, NABE, Goldman Sachs, NABE's Jebaraj, Sam, Jebaraj, — Organizations: Westend61, Getty, National Association for Business Economics, Reserve, Wall, Bank of America, JPMorgan, Center for Business, Economic Research, Walton College of Business, University of Arkansas, Treasury, National Association for Business Locations: U.S

☆ A business owner ditching the office explains how he came to trust his employees to work remotely so he could save money on rent
▼ + stars: | 2023-08-12 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The remote work debate is still raging, as firms try to get their workers back into the office. But one business owner says trusting workers to create their own best work arrangement is the best option. "There's the whole saying about working from home, 'shirking from home,' or working remotely, 'remotely working,'" Bloom said. That's why Eitzen is making remote work permanent. Are you a boss or worker trying to figure out how to keep remote work functional?

Persons: Sam Eitzen, Eitzen, I'm, you've, There's, they'd, Simon Fraser, Lucy Gilson, Nicholas Bloom, haven't, Bloom, that's, Chris Bailey, who's, Bailey, he's, It's Organizations: Service, Employers, Deloitte, Pepperdine University , University of New, Simon, Simon Fraser University, University of Calgary, Paul College of Business, University of New, Stanford University, Workers, jkaplan Locations: Wall, Silicon, Seattle, Pepperdine University , University of New Hampshire, University of New Hampshire, Spain, Italy

☆ 'Barbie' buzz likely just a flash in the pan for toymaker Mattel
▼ + stars: | 2023-07-24 | by ( Savyata Mishra | ) www.reuters.com time to read: +3 min

July 24 (Reuters) - The fanfare around Margot Robbie-starrer "Barbie" could jolt the iconic Mattel (MAT.O) doll's sales out of a year-long slump, but Wall Street thinks the party in pink will be short-lived. While Mattel will report second-quarter results on Wednesday, days after the theatrical release of the movie, analysts say the boost for Barbie sales will be most pronounced in the quarter ending Sept. 29 before tapering off. Retailers worldwide have also pitched in, with brands from Zara (ITX.MC) to H&M (HMb.ST) and Gap rolling out themed merchandise like Barbie hoodies, perfumes and toothbrushes. But its gross billings - or the amount invoiced to customers - fell behind Hot Wheels in the first quarter of 2023. Mattel's forward 12-month price-to-earnings multiple (P/E), a common benchmark for valuing stocks, is 16.01, higher than 13.6 for Hasbro.

Persons: Margot Robbie, Barbie, Arpiné Kocharyan, Kocharyan, Ryan Gosling, Ken, Warner Bros, Zachary, Carol Osborne, Savyata Mishra, Devika Organizations: Mattel, UBS, Warner, Sunday, Reuters Graphics Reuters, CFRA Research, University of South, Muma College of Business, Hasbro, Thomson Locations: Zara, United States, Canada, Bengaluru

☆ ChatGPT can match the top 1% of creative human thinkers, says new study
▼ + stars: | 2023-07-17 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

ChatGPT, an artificial intelligence chatbot, can match the top 1% of human thinkers, according to a new study by the University of Montana. Researchers administered the Torrance Tests of Creative Thinking, an oft-used creativity test, to the ChatGPT engine and recorded eight responses. All responses were scored by the Scholastic Testing Service, which wasn't aware that AI responses were submitted. The AI responses were as creative as the responses from the most creative real people who took the test, according to researchers. So, AI may help us apply the world of creative thinking to business and the process of innovation, and that's just fascinating to me."

Persons: ChatGPT, University of Montana's College of Business Erik Guzik, ScienceDaily.com, Guzik Organizations: University of Montana, Scholastic Testing Service, University of Montana's College of Business Locations: Torrance

☆ It's not just the money. People are doing side hustles to socialize and be creative as well.
▼ + stars: | 2023-06-05 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Money is a big reason why many people take on side hustles, but there are non-financial reasons why people try side jobs too. "Side hustlers are much more likely to view this extra income as essential, rather than a passion project or a way to get ahead financially." In the April survey, 39% of US adults said they do something "to earn extra income on the side" outside of their primary income source. For example, people may want to make extra money outside of a main job to put toward paying off debt. One full-time worker who tries side hustles told Insider he does his side hustle work during some nights.

Persons: —, Bankrate, Ted Rossman, Jennifer Nahrgang, Palmer, Trisha Diamond, hustles, Diamond, Gen, Nahrgang, Julia Pollak, Uber, Clarke Bowman, Bowman Organizations: Service, Management, Entrepreneurship, University of Iowa's Tippie College of Business Locations: Bankrate

☆ Credit ratings agencies like Moody's decide the US credit rating. Here's what you need to know
▼ + stars: | 2023-05-27 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

CNN —Credit rating agencies are once again in the spotlight amid the ongoing high-stakes debt ceiling negotiations in Washington. What is the purpose of credit rating agencies? Put simply, credit rating agencies provide their opinions and issue a score evaluating the likelihood that a borrower will repay its debt. Rating agencies first rose to prominence over a century ago, but today, the three major agencies dominate the market. Bonsall has studied the effectiveness of credit rating agencies and their possible conflicts of interest.

☆ A new CEO won’t fix Twitter’s biggest problem
▼ + stars: | 2023-05-17 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

New York CNN —During his six months as Twitter’s CEO and owner, Elon Musk decimated its ad business, alienated some news publications and VIP users, and plunged the platform into a constant state of chaos. But she may struggle to address Twitter’s biggest problem: Elon Musk. On Tuesday, Musk said he “didn’t care” if his controversial tweets drew the ire of Twitter advertisers or Tesla shareholders. She may struggle to undo the damage Elon Musk has done to the company's ad business. That could only add to the difficulty Yaccarino will face in shoring up Twitter’s business.

☆ How Reuters pinpointed bat-virus risk zones worldwide
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +12 min

Areas where conditions are similar are more prone to spillover, scientists say. The Reuters analysis, which assessed spillover risk through 2020, has proven to have some predictive power. Similar statistical models are used widely to analyze data in ecology, and researchers use them to understand spillover risk. More than one of every five people on the planet is living in areas where the risk is highest for spillover. Using epidemic modeling software called GLEAMviz, the news agency simulated a worldwide pandemic originating from the spillover of a theoretical novel virus.

☆ How to invest in the S&P 500 — a guide to the funds that mimic the influential index's makeup and moves
▼ + stars: | 2023-05-15 | by ( Martin Daks | ) www.businessinsider.com time to read: +17 min

After tracking the S&P 500 from 1965 to 2021, Berkshire Hathaway found the compound annual gain in the S&P 500 was 10.5%. In the case of S&P 500 index funds, the stocks are those of the companies listed in the S&P 500. With 500+ stocks in their portfolio, S&P 500 funds are especially diversified, their securities representing a range of industries. With 500+ stocks in their portfolio, S&P 500 funds are especially diversified, their securities representing a range of industries. The diversified, passive approach of S&P 500 funds — like most index funds — means an investor's downside is generally limited.

☆ Blue-collar workers could save the US from recession as the tech industry withers
▼ + stars: | 2023-05-14 | by ( Juliana Kaplan | Andy Kiersz | ) www.businessinsider.com time to read: +8 min

After a pandemic-era tech jobs boom — and now bust — more and more Americans are returning to blue-collar work for better pay and more security. As AI stands poised to potentially remake white-collar work, blue-collar work may emerge even more resilient. The Biden administration has been devoted to turning that around, pouring billions into projects devoted to bringing manufacturing jobs back stateside. And another key to the puzzle is treating blue-collar work with respect, like any other work — including high-paying tech jobs. Are you thinking of taking the plunge into blue-collar work, or have you already?

☆ Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million
▼ + stars: | 2023-05-11 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +19 min

The 73 EEOC claims brought by individual former employees against the company sparked the larger pattern or practice investigation into age discrimination. Only a fraction of EEOC age discrimination complaints — 2.8% in fiscal 2021 — resulted in reasonable cause determinations, EEOC data show. It went from running six bowling alleys to 272 overnight after it acquired AMF, which was then the largest bowling company in the world and was in bankruptcy. The following year, Shannon's company acquired the Brunswick Corporation, the second-largest bowling company in the world, and changed his company's name to Bowlero. Dowe said negotiations fell apart when Bowlero countered the EEOC's $60 million settlement proposal with a proposal of $500,000.

☆ Got a stash of Bed Bath & Beyond coupons? You'd better use them soon
▼ + stars: | 2023-04-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

Bed Bath & Beyond said it would sell off its merchandise and then go out of business. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales. Bed Bath & Beyond, a staple of wedding registries for years, said customers who registered with Bed Bath & Beyond will eventually have their information transferred to a competitor’s service, where guests can purchase similar items. With stores closed for months, and consumers rethinking their nonessential purchases, Bed Bath & Beyond sales and profit took a hit. Now that the company is going through a liquidation process, Bed Bath & Beyond said it’s the end of the road for the coupons.

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