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☆ This fertility clinic is trying to democratize IVF, just as some groups are condemning it
▼ + stars: | 2024-06-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Since February, when Alabama’s Supreme Court declared frozen embryos are legally considered children, fertility clinics around the country have been weighing the implications of a political movement that’s suddenly turned hostile toward IVF. It could also threaten growth in the booming IVF market, which last year brought in an estimated $8 billion in revenue. IVF also took center stage last week at the Southern Baptist Convention, where church leaders effectively condemned the practice. I have never seen any religious or government guardrail ever stop fertility patients. I’m a former fertility patient, and no one was going to tell me no — I was going to do whatever it took to have the family I always dreamed about.

Persons: that’s, Nightcap, Gina Bartasi, It’s, I’m, Kindbody, Gina Bartasi Kindbody, —, who’s Organizations: New, New York CNN, Alabama, Southern Baptist Convention, Progyny, Southern Baptists, United, Aetna, Blues, Bloomberg Locations: New York, America, Alabama, Cigna, Manhattan

☆ Boeing’s CEO is going to coast into retirement, having never been held to account for the mess he made
▼ + stars: | 2024-06-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —For all the mistakes and safety problems Boeing has managed under CEO Dave Calhoun’s watch — resulting in a dozen corporate whistleblowers, multiple groundings and a chunk of a plane’s fuselage literally blowing off in midair — virtually no one has held him to account. But when pressed on taking personal responsibility, Calhoun deflected, over and over. “I am proud of every action we have taken,” Calhoun said when pressed by Hawley on how he could possibly be proud of Boeing’s safety culture. “I don’t think the problem’s with the employees, actually, I think the problem’s with you. It’s the C-suite, it’s the management, it’s what you’ve done to this company,” Hawley said.

Persons: CNN Business ’, Dave Calhoun’s, lavishing, Calhoun, Republican Sen, Josh Hawley, Boeing’s machinists, hasn’t, “, ” Calhoun, Hawley, ” Hawley, they’re, Democratic Sen, Richard Blumenthal didn’t, you’ve, ” Blumenthal, “ I’m, ” Richard Aboulafia, Chris Isidore, ” Aboulafia, ” Organizations: CNN Business, New York CNN, Boeing, Airbus, Republican, Democratic, ”, Federal Aviation Administration, Department, Consultancy Locations: New York

☆ I never stay in Las Vegas for more than 2 nights. This is my foolproof itinerary for maximizing a weekend in Sin City.
▼ + stars: | 2024-06-16 | by ( Jill Schildhouse | ) www.businessinsider.com time to read: +6 min

Read previewI've been going to Las Vegas regularly since the early 2000s and have adopted a firm policy to never stay more than two nights. A well-planned weekend trip also makes it possible for travelers to use fewer PTO days — although almost half of US workers don't take all of their paid time off each year anyway. Here's how my cousin and I spent a weekend in Vegas on my most recent trip. Next, we headed to one of the highlights of any trip to Vegas: high tea at the Tea Lounge at the Waldorf. The Tea Lounge at the Waldorf Jill SchildhouseFor dinner, we headed to KYU at Fontainebleau Las Vegas for incredibly flavorful Asian-inspired and wood-fired dishes.

Persons: —, I've, Jill Schildhouse, Cheri, Martha Stewart, Dita Von Teese's, Schildhouse, brunch, KYU, Thomas Keller's, Bobby Flay's Organizations: Service, Business, Flight, Paris Hotel, Eiffel, Sala, COMO Poolside, Bellagio, Waldorf, Fontainebleau Las, Resorts, Paradox Museum Locations: Las Vegas, Sin City, Vegas, Bellagio, Bedford, Paris, Bedford , New York, COMO, Fontainebleau, Fontainebleau Las Vegas, Luxor, Caesar's

☆ Wells Fargo fired a dozen people accused of faking keyboard strokes
▼ + stars: | 2024-06-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. “And that’s a symptom of a much larger problem.”In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.

Persons: CNN Business ’, Wells, ”, —, “, haven’t, ” Ashley Herd, Banks, ” Herd Organizations: CNN Business, New York CNN, ” Bloomberg, Financial Industry, Authority, Wells Fargo Locations: New York, Wells

☆ Housing costs are clouding an otherwise glowing economy
▼ + stars: | 2024-06-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Despite all the good news, there’s one giant, inescapable reason why people don’t feel like the economy is as good as it actually is. Shelter costs — which include rent and an estimated cost of homeownership — were up 5.4% from a year ago. There are some early signs that the housing market is becoming a bit less stuck. At the same time, the one-two punch of inflation and high borrowing costs have discouraged first-time buyers, reducing competition for houses. Of course, as Powell noted in his speech Wednesday, it may take “years” for housing inflation to normalize.

Persons: CNN Business ’, We’re, supercore, doesn’t, —, “, ”, Jay Parsons, Jerome Powell, It’s, Orphe Divounguy, Zillow, ” Divounguy, Powell, There’s, Douglas Duncan, Fannie Mae Organizations: CNN Business, New York CNN, “ Locations: New York, Madera, Texas

☆ Washington is waking up to AI’s risks about three years too late
▼ + stars: | 2024-06-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

(Which is ironic, given that one of the priorities of the roadmap is making sure AI doesn’t, like, hijack the American electoral process.) All of that money was able flood in because the notoriously tech-challenged lawmakers in Washington have been largely asleep at the wheel. (European officials, meanwhile, formally adopted the world’s first standalone AI law this spring, a full five years after rules were proposed.) Until recently, AI was a largely academic subject rarely discussed outside of Silicon Valley. ”AI companies have strong financial incentives to avoid effective oversight,” they wrote in an open letter this week.

Persons: CNN Business ’, hasn’t, ”, OpenAI, Brian Fung Organizations: CNN Business, New York CNN, Federal Trade Commission, Justice Department, Big Tech, Antitrust, FTC, Microsoft, Google, Nvidia, Apple Locations: New York, United States, Washington, Silicon Valley

☆ New York’s governor said congestion pricing would hurt the economy. Businesses disagree
▼ + stars: | 2024-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —New York was just a few weeks away from becoming the first American city to adopt congestion pricing, a system designed to alleviate traffic, reduce air pollution and fund public transit. Then, at the last minute, the governor lost her nerve, citing the dubious claim that it would hurt the working class. Many of the businesses that employ the workers Hochul claims to be protecting are disappointed with the decision. The price was supposed to be high enough to discourage drivers, but not so high that businesses would suffer. As the New York Times notes, congestion pricing has been wildly unpopular “in suburban areas of the Hudson Valley and Long Island where Democrats are desperate to make gains” in this election cycle.

Persons: CNN Business ’, Kathy Hochul, she’s, ”, Kathryn Wylde, Hochul’s, Hochul Organizations: CNN Business, New York CNN —, Broadway, Partnership, New, New York, Midtown, Yorkers, New York Times Locations: New York, York, Midtown, New York City, Singapore, London, Stockholm, bodega, Hudson, Long

☆ Bill Ackman is probably about to get a lot richer. And much louder
▼ + stars: | 2024-06-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The funding announced Monday puts a $10 billion price tag on Pershing Square, which manages about $16 billion worth of assets. The benefit of going public is you get to make money, obviously, so it’s not hard to see why Pershing Square would want to do it. For Ackman, in particular, being at the helm of a publicly traded company could be a particularly jarring shift. Pershing Square officially hung up its activist megaphone in 2022, opting to work with a small group of companies behind the scenes. Many of those followers are the kinds of retail investors Ackman could hope to attract to a publicly traded fund.

Persons: CNN Business ’, Bill Ackman, who’s, Ackman, ”, Lawrence J ., White, “, I’ve, ” White, he’s, I’m, he’ll, —, Elon Musk, Pershing, Musk, ” NYU’s White, Tesla Organizations: CNN Business, New York CNN, Pershing, Securities, Exchange, NYU Stern School of Business, Herbalife, Twitter, Hamas, MIT, Trump, SEC, Bloomberg Locations: New York, Pershing, Israel

☆ Elon Musk once mocked China’s BYD. Now it’s running circles around Tesla
▼ + stars: | 2024-05-30 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —The most important carmaker in the world right now is the Chinese-owned, Warren Buffett-backed company that has Elon Musk in a pickle. That’s 1,300 miles in one go — hundreds of miles beyond the standard ranges for other hybrids on the market. One: Tesla is America’s best-selling EV, but it’s losing market share overseas to foreign competitors that can make their cars cheaper. China is the world’s biggest auto market, and BYD is its top seller, surpassing Volkswagen last year. In that exchange, Musk responds to an honest question about BYD rivaling Tesla with a smug laugh.

Persons: CNN Business ’, Warren Buffett, Tesla, Musk, BYD Organizations: CNN Business, New York CNN, Elon, Toyota, Wall Street, Volkswagen, Toyota Prius, Bloomberg Locations: New York, Miami, BYD’s Hong Kong, China, United States

☆ MacKenzie Scott upended philanthropy as we know it. Melinda French Gates is catching on
▼ + stars: | 2024-05-29 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

And it’s a style that Melinda French Gates appears to be emulating, at least partly, in her newly solo philanthropic venture. Now independent of that organization, French Gates is free to take bets on organizations and communities regardless of their size or ability to demonstrate their impact. Scott and French Gates’ ex husbands, meanwhile, aren’t getting as many kudos for their charitable work as they might like. Gates, with a net worth of $154 billion, has also faced criticism for the Gates Foundation’s methods. “That can’t happen through the Gates Foundation’s father-knows-best, look-at-me brand of bureaucratic philanthropy.”

Persons: CNN Business ’, New York CNN —, Ivana Trump, Don’t, MacKenzie Scott, Jeff Bezos, Melinda French Gates, Gates, Bill Gates, “ I’m, Scott, it’s, ” Amir Pasic, Indiana University Lilly, ” That’s, ” Pasic, —, Gates ’, aren’t, Bezos, hadn’t, Tim Schwab, ” Organizations: CNN Business, New York CNN, Club, New York Times, Indiana University, Indiana University Lilly Family School of Philanthropy, Women’s, Gates, CNN, Bloomberg Locations: New York, Maui, Bezos, Gates, Nation

☆ If Live Nation gets busted up by the feds, we’ll have Taylor Swift to thank
▼ + stars: | 2024-05-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“It is time to break it up.”It is difficult to overstate just how thoroughly Live Nation, which acquired Ticketmaster more than a decade ago, controls live entertainment in America. Through Ticketmaster, Live Nation controls 80% of venues’ primary ticketing for concerts. There’s a fine line between vertical integration and all-out monopoly, and Live Nation is, at minimum, very clearly toeing it. Artists, fans and venues have been complaining about Live Nation and Ticketmaster pretty much since they agreed to merge in 2009. Live Nation, Wolfson said, is likely to come out swinging.

Persons: CNN Business ’, Caitlin Clark, wasn’t, General Merrick Garland, Swift, Taylor, Sen, Richard Blumenthal, Garland, Swiftie, ” Adam Wolfson, Quinn Emanuel, Eventbrite, Wolfson, … we’re, there’s Organizations: CNN Business, New York CNN, Justice Department, Ticketmaster, DOJ, Artists, Senate, Democrats Locations: New York, United States, America, North America, “

☆ It looks like someone tried to steal Graceland, possibly one of the dumbest crimes ever
▼ + stars: | 2024-05-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. New York CNN —We can’t be 100% sure that an obscure lending company just tried to steal Graceland. Her lawsuit says that the documents Naussany presented, including a 2018 notarized promissory note signed by Lisa Marie Presley, were forged. Even the notary public whose name appeared on the disputed document, told the court in an affidavit that no, they’d never notarized Lisa Marie Presley’s signature. (“Not acquire to proceed?”)It added: “There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”(LMP, presumably, is Lisa Marie Presley.

Persons: CNN Business ’, Elvis Presley’s, —, Lisa Marie Presley, she’d, Naussany, Graceland, Riley Keough, Elvis’s, Keough, Mad Max Fury, Daisy Jones, ”, Naussany’s, Lisa Marie Presley’s, JoeDae Jenkins, Jenkins, ” Jenkins, Keough’s Organizations: CNN Business, New York CNN, Naussany, CNN, Naussany Investments Locations: New York, Tennessee, Graceland, Memphis, America, Shelby County, Naussany, Kimberling City , Missouri, Missouri

☆ Shocking: Some AI developers didn’t listen when a woman rejected their offer
▼ + stars: | 2024-05-22 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Back in September, Scarlett Johansson, who played the hauntingly complex AI assistant in the 2013 Spike Jonze film “Her,” got a request from OpenAI’s CEO, Sam Altman. He wanted to hire Johansson to voice his company’s newest ChatGPT model, “Sky.” She said no. Johansson quickly lawyered up, saying Monday she was “shocked, angered and in disbelief” that Altman would use a voice “so eerily similar” to her own. OpenAI was forced to confront some of those concerns late last week, after two prominent employees left the company. “Being friends with AI will be so much easier than forging bonds with human beings,” wrote Wired editor Brian Barrett in a recent essay about the movie.

Persons: CNN Business ’, you’ve, Scarlett Johansson, Spike Jonze, ”, Sam Altman, Johansson, OpenAI, Altman, Altman —, Jan Leike, OpenAI’s, Ilya Sutskever, ” Altman, “, that’s, Joaquin, Brian Barrett, — CNN’s Clare Duffy, Brian Fung Organizations: CNN Business, New York CNN, Google Locations: New York, Silicon

☆ How bad bets on meme stocks led to a $1 billion wipeout
▼ + stars: | 2024-05-15 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —The only bet riskier than buying meme stocks like GameStop may be cheering for their decline. That’s the lesson Wall Street’s short-sellers are learning the hard way this week. See here: For the first four months of the year, GameStop short-sellers — investors who bet on a stock’s decline — were sitting on $392 million in gains, up nearly 50%. To understand the meme stock phenomenon, it helps to understand a bit of the tribalism underpinning it. Today’s GameStop shorts aren’t likely to hang on and repeat the mistakes of their Melvin Capital brethren.

Persons: CNN Business ’, Capital, RoaringKitty —, GameStop’s, Ihor Dusaniwsky, ” Organizations: CNN Business, New York CNN, GameStop, S3 Partners, Elon, Citron Research, Wall, Partners Locations: New York

☆ Trump Media has reawakened the meme stock monster as GameStop surges
▼ + stars: | 2024-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —We in the financial press tend to talk about the meme stock revolution (or craze, or frenzy, or mass delusion) in the past tense. Another meme stock, Trump Media and Technology Group, the Donald Trump-owned media company that controls Truth Social, brought back memories of the 2021 GameStop bonanza. With Trump Media, Trump supporters and other speculative traders pumped up the stock not for its (extraordinarily lousy) fundamentals, but more as a vote of support for the former president’s campaign and even a barometer of his winning chances. We’re not quite as exuberant today as we were then, but we’re still within spitting distance of all-time highs on major stock indices, Sosnick notes. In some ways, the arrival in the spring of Donald Trump’s media company reawakened the meme stock monster.

Persons: CNN Business ’, Wall, Keith Gill, Kitty, DeepF, Steve Sosnick, who’ve, Gill, Donald Trump, Donald Trump’s, DJT, ” Sosnick, Michael Pachter, David, Melvin Capital, Gabe Plotkin’s, ”, Plotkin, “ Organizations: CNN Business, New York CNN, GameStop, Interactive Brokers, Trump Media, Technology Group, AMC, Trump, Wedbush Securities Locations: New York

☆ Welcome to the AI dystopia no one asked for, courtesy of Silicon Valley
▼ + stars: | 2024-05-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

AI skeptics — who are legion, and not necessarily part of the fringe tin foil hat crowd — are begging Silicon Valley to take a beat before unleashing AI to the world. Then, the big reveal: It’s all contained in Apple’s new iPad, its thinnest and most powerful ever, thanks to its brand new AI chip. Meanwhile, is anyone else getting inundated with Google’s Pixel ads, which show people giddily using the smartphone’s AI photo-editing software to deceive their online followers? Apple is expected to announce its own ChatGPT-like tools that could be a game changer for your internet searches. The Jeff Goldblums of the AI debate — who include some of the industry’s own pioneers — are not necessarily saying we have to smother AI and pretend it never existed.

Persons: CNN Business ’, Jeff Goldblum’s, “, John, that’s, —, Cher’s, Asif Kapadia, ”, Luke Barnett, Apple, Tim Cook, Apple’s, Siri, I’ll, We’re, Jeff Goldblums, weren’t Organizations: CNN Business, New York CNN, Google, Apple, Space Invaders Locations: New York

☆ FTX customers are getting a rare good deal. Here’s why some are still angry
▼ + stars: | 2024-05-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

And yet, for FTX customers, there’s an unavoidable twinge of resentment over what could have been. See here: If you had one bitcoin in an FTX account in mid-November of 2022, it was worth about $17,500. The bankruptcy managers tracked down all of FTX’s crypto and other holdings and hired an investment manager to sell them. The bull run inflated the value of FTX’s significant crypto holdings, leaving the estate with more than enough to pay back customers. Although FTX said it would have as much as $16 billion to disburse, customers and Uncle Sam get paid out first.

Persons: CNN Business ’, bitcoin, it’d, you’d, Tom Brady, John Ray III, Ray, they’ll, FTX, Uncle Sam, Sam Bankman, SBF, he’d, SBF’s, who’s, Fried Organizations: CNN Business, New York CNN —, Sequoia, Prosecutors Locations: New York, FTX, bitcoin, Bankman

☆ Disney just had its worst day in a year and a half
▼ + stars: | 2024-05-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats. It was Disney’s worst stock trading day in 18 months. That’s a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago. Streaming is new(ish) and very different beast from the traditional cable TV model Disney and other media giants like Paramount, Viacom and Warner Bros. “It is a very tough business,” Verna said.

Persons: CNN Business ’, New York CNN — Disney, ” Paul Verna, ” Disney, ” Verna, Bob Iger, It’s, ” “ Indiana Jones, ”, Iger, Brian Mulberry Organizations: CNN Business, New York CNN, Disney, ESPN, Apple, Netflix, Paramount, Viacom, Warner Bros ., Zacks Investment Management Locations: New York, “, India

☆ The alleged architect of a multibillion-dollar fraud that shook Wall Street heads to trial
▼ + stars: | 2024-05-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —In the spring of 2021, you might have heard about a small investment firm with an odd name, Archegos, that imploded practically overnight and left big Wall Street banks sweating over billions of dollars in losses. Put simply, prosecutors say Hwang had used financial instruments called “total return swaps” to gain exposure to the stocks without actually owning them. Over the course of a year, prosecutors say, Hwang grew his $1.5 billion portfolio into a $35 billion portfolio. Why the case mattersWhite-collar crime on Wall Street may seem like a distant problem for most Americans, and that may be true. And sometimes, as in the financial crisis of 2008, it was a bit of Wall Street tinkering in derivatives contracts that blew up in banks’ faces and collapsed the housing market.

Persons: CNN Business ’, Bill Hwang, Hwang, Matt Egan, Banks, Archegos, ” Hwang, Hwang didn’t, ”, isn’t, Dennis Kelleher Organizations: CNN Business, New York CNN, Archegos, Management, Viacom, Discovery, Warner Bros, CNN, Term Capital Management, Credit Suisse, Employees, Bloomberg, Tiger Asia Management Locations: New York, Korean, York City, ’

☆ Columbia’s administrators failed crisis management 101
▼ + stars: | 2024-05-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

There’s the day to day admin, the glad-handing of donors, and, crucially, keeping internal fires from becoming public, violent conflagrations. That last one is a public relations lesson, one on which Columbia’s president might need a refresher. In doing so, Columbia’s leadership threw out the playbook for managing protests that universities have honed for decades to keep students safe. To be sure, Columbia’s president, Minouche Shafik, knows her job could be on the line. Meanwhile, thousands of students, parents and alumni are about to descend on Columbia’s campus for commencement, adding more pressure to remove protesters.

Persons: CNN Business ’, ” Sarah J, Jackson, “, ” Jackson, they’re, it’s, Nadia Abu, ” Abu, Haj, Minouche Shafik, UPenn Organizations: CNN Business, New York CNN — University, Columbia University, NYPD, University of Pennsylvania, ”, Trustees, comms, Haj, Columbia, New York, Harvard, Brown University, Wesleyan, University of Chicago Locations: New York, Columbia, Nadia Abu El, ” Abu El

☆ Bitcoin halving: Crypto traders await quadrennial event
▼ + stars: | 2024-04-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Put simply, the halving is an automatic 50% reduction in the number of bitcoin entering circulation. “Guessing the endgame for Bitcoin after each halving is the ultimate sport,” said Antoni Trenchev, co-founder of crypto lender Nexo, in a statement. Miners are essentially auditors on the bitcoin blockchain, using powerful supercomputers to validate transactions and getting paid for their work in bitcoin. While long-term sentiments on bitcoin are bullish among the crypto faithful, the psychology around an event like the halving is hard to predict and can create volatility that’s extreme even by crypto standards. “It wouldn’t be surprising to see the price of bitcoin increase significantly over the next two years.”

Persons: CNN Business ’, it’s, ”, Antoni Trenchev, Gareth Rhodes, Molly White, John Sedunov, Jamie Dimon, JPMorgan Chase, Greg Beard, there’s, ” Beard Organizations: CNN Business, New York CNN, United, Miners, Villanova University, JPMorgan, Mining Locations: New York, United States, Asia, bitcoin

☆ Why Corporate America is keeping quiet on abortion
▼ + stars: | 2024-04-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

New York CNN —Eight years ago, when North Carolina tried regulate how transgender people use public bathrooms, Corporate America revolted. Nearly two dozen states have either banned or severely curtailed abortion rights since Roe v. Wade was overturned two years ago. Lamberton: What we’ve seen is the natural life cycle of an idea. But in the last few years, we’ve seen that position softening. Economically, we’ve seen a great deal of volatility just in the last half decade.

Persons: CNN Business ’, Roe, Wade, we’ve, Bud, Cait Lamberton, ” Lamberton, ”, Lamberton, We’ve, Bud Light, Busch, isn’t, it’s, they’re, John Wanamaker Organizations: CNN Business, New York CNN —, America, PayPal, Associated Press, —, American Civil Liberties Union, University of Pennsylvania’s Wharton School of Business, Consumers, Anheuser, Bud, Brands, Coca Cola, Companies, Technology Locations: New York, North Carolina, Ukraine, Georgia, Philadelphia

☆ Boeing CEO’s penchant for cost-cutting doesn’t apply to his trips on the company jet
▼ + stars: | 2024-04-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —When it comes to building planes, Boeing CEO Dave Calhoun is all about streamlining costs. That oopsie was discovered in an internal review, which was prompted by a Wall Street Journal investigation last year into Boeing executives’ private jet travel, the paper reported Thursday. To be clear: Boeing requires Calhoun, who is stepping down later this year, to use its private jets for business and personal travel for security reasons. But when a CEO uses the company jet for a family vacation, that usually counts as taxable income. Over the last three years, Calhoun racked up $979,000 in personal air travel, according to the company.

Persons: CNN Business ’, Dave Calhoun, Calhoun, thriftiness, Chris Isidore, oopsie, that’s, we’ve, It’s, lavishing Calhoun, teeing, Jon Holden Organizations: CNN Business, New York CNN, Boeing, Wall Street, IRS Locations: New York, Arlington , Virginia, Seattle, America

☆ Bad news for Biden (and all Americans): Inflation is creeping higher at the worst time
▼ + stars: | 2024-04-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate. On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy. Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans. “We have more to do to lower costs for hardworking families,” he said. The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.

Persons: CNN Business ’, New York CNN — There’s, Joe Biden, Biden, hasn’t, Ron Klain, ”, Ian Maule, he’s, CNN Biden, “ Organizations: CNN Business, New York CNN, Labor, Politico, Biden, Center, CNN, Republican Locations: New York, Las Vegas , Nevada

☆ Gen Z is full of financial angst despite inheriting a golden labor market
▼ + stars: | 2024-04-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream. But Gen Z isn’t having an easy go of it either. Gen Z hasn’t had a chance to get a foot in the door. “Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said. It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic.

Persons: CNN Business ’, Z, Zers —, ” Brendan Duke, they’re, haven’t, ” Duke, “, Z hasn’t, Duke, ‘, ”, Gen Zers, Zers, Gen Z, that’s, that’ll, We’re, X, Charles Schwab Organizations: CNN Business, New York CNN, Boomers, Center for American, Federal Reserve, McKinsey, Bloomberg Locations: New York

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