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☆ East Coast ports including New York are winning a domestic trade war at the expense of California
▼ + stars: | 2022-12-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

According to ITS Logistics which monitors rail cargo trends, the volume of freight moving out of the East Coast doubles that of the West Coast. East Coast ports making major investments East Coast ports like Georgia, Virginia and Maryland have been increasing their investment to accommodate the increase in rail capacity. "CSX continues to see the East Coast ports as a growth opportunity as volumes shift from congested West coast gateways," said Cindy Schild, CSX spokesperson. West Coast port declinewatch nowCargo volumes on the West Coast remained soft at the Port of Los Angeles in November, which saw a 21% decrease year over year in volumes. While the East Coast gains are significant, there was a "leveling" off of imports detected on the East Coast in November, according to port TEU data from the CNBC Supply Chain Heat Map.

☆ Attention procrastinators: Drop-dead holiday shipping deadlines are coming soon
▼ + stars: | 2022-12-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —It happens every year — the mad dash to ship holiday gifts to get them to loved ones on time. This means they’re also shipping those purchases later, adding to the congestion.”Another reminder: Christmas Day falls on a Sunday this year, which means virtually no overnight delivery. The overall holiday gift shipping window is also shorter this season. Last-minute shipping dates are coming up for holiday gifts. With less than two weeks to Christmas Day, that really means this week.

☆ Sick and family leave are top union demands post-Covid-pandemic
▼ + stars: | 2022-12-10 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +7 min

Rail workers nearly went on strike over paid sick leave. Glen Stubbe / Star Tribune via AP fileMore than 100,000 rail workers were days away from a likely strike after the rail companies refused demands for five paid sick days. Labor experts and organizers say the pandemic aimed a floodlight at the public health ramifications of in-person work, elevating for workers the importance of paid leave in contract disputes. “This was the sticking point for the railroads.”Following Congress’ resolution of the impasse, activist investors have put forth proposals to get two of the biggest rail companies, Union Pacific and Norfolk Southern, to offer their workers paid sick leave next year. “We appreciate the work of the negotiating teams and the mediator in reaching this agreement in principle.”Other unions are paying attention to these fights — and gearing up to make sick leave a major part of their negotiations.

☆ What to watch when Club holding Costco reports quarterly results Thursday
▼ + stars: | 2022-12-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Gross margin Costco shareholders will be looking for an improvement to its gross profit margin, or the percentage of revenue that's left over after subtracting the costs of producing its goods. Costco's gross margin has been lower over the past several quarters due to inflationary pressures like higher freight and labor costs, as well as supply chain disruptions. Sales growth Costco last week said total company core sales for November grew by of 5.3% , well below the the 8.5% growth predicted by analysts. While Costco's sales growth has come under pressure, revenue is still growing, albeit at a slower pace. Importantly, we would like to see an improvement in Costco's gross margin, which could bolster the stock price.

☆ A battle over paid leave is threatening to grind the US economy to a halt
▼ + stars: | 2022-11-30 | by ( Juliana Kaplan | Hannah Towey | ) www.businessinsider.com time to read: +7 min

US rail workers are preparing to strike over their latest negotiations with management. Three years of rail workers' negotiations with management over this issue could soon culminate in an economy-disrupting strike, after the latest tentative agreement included just one paid personal day off a year. That's too far from the 15 days of paid sick leave that rail workers pushed for, and which railroads argue would cost them $688 million a year. While praise for essential workers has faded, rail workers still hold a lot of power in the economy. "The stockholders would go absolutely crazy if we were able to strike for one day."

☆ Dozens of times drought, ice melt, and storm surge unearthed unusual and unsettling discoveries this year
▼ + stars: | 2022-11-26 | by ( Paola Rosa-Aquino | ) www.businessinsider.com time to read: +7 min

Among the unearthed finds are old sites, ancient artifacts, rare fossils, and even human remains. This summer, low water levels created an eerie boat graveyard of previously sunken ships and beached boats, the Associated Press reported. The manmade reservoir's plummeting water levels also revealed human remains on at least six occasions since May, The Guardian reported. In Spain's Vilanova de Sau in the Catalonia region, plummeting water levels in a reservoir exposed a 11th century Romanesque church, the Associated Press reported. Switzerland's melting glaciers revealed the remains of a 1968 plane in August.

☆ Amazon is gutting its voice-assistant Alexa. Once founder Jeff Bezos's pet project it's now the primary target of historic layoffs.
▼ + stars: | 2022-11-19 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

Amazon's Alexa and the devices team at large is now the prime target of the biggest layoffs in the company's history, according to press reports and an internal email seen by Insider. Instead, Amazon wanted shoppers to buy more things through Echo devices by placing orders through the voice-assistant. Reports of Alexa mistakenly sending voice recordings to the wrong person or Amazon employees secretly listening to private conversations stoked fear of privacy concerns. But even so, its financial contribution often fell short of expectations, more than half a dozen employees told Insider. Employees told Insider the product is Bezos's latest pet project.

☆ New York continues streak as nation's No. 1 port as LA cargo volume hits level not seen since 2009
▼ + stars: | 2022-11-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Earlier this week, the Port of Los Angeles posted its lowest level of October since 2009. "Firstly, shippers are still avoiding the West Coast to mitigate the risk of labor strikes at LA and Long Beach. According to Project44 data, total vessel TEU capacity deployed from Europe to the East Coast is up 15.5% compared to Oct 2021. CNBC Supply Chain Heat Map providers warned in the summer and fall of a decrease in manufacturing orders which has impacted the volume of shipping. The lesser container volumes are now being seen off the ports across the East Coast, including New York and New Jersey.

☆ What Title 42 is and how it connects to El Paso migrants
▼ + stars: | 2022-11-16 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +11 min

The judge’s order ending Title 42 isn’t scheduled to go into effect until December 21. Is there a connection between Title 42 and what’s been happening in El Paso? At this point there isn’t any known connection between the rise in crossings and the looming end of Title 42. Jose Luis Gonzalez/Reuters“We’re talking about Title 42 being lifted and what that would do here in the community. “Title 42 was never about public health, and this ruling finally ends the charade of using Title 42 to bar desperate asylum seekers from even getting a hearing,” he said in a statement.

In fact, Covid-related deaths and hospitalizations have fallen in recent months, despite the emergence of new omicron subvariants that evade immunity from previous infections and vaccination. Full coverage of the Covid-19 pandemicAccording to NBC News data, Covid deaths have fallen consistently since Aug. 31, when the seven-day average of daily Covid deaths was at 571. The average number of Covid hospitalizations per day has decreased by 27.9% since Aug. 28, according to NBC News data. While Covid-related hospitalizations are not currently increasing, Gupta warns that they could during the winter as immunity, especially from previous infection, diminishes. Now, he said, "Covid deaths don't all look the same."

☆ Hurricane Nicole unearthed 6 human skulls from a Florida beach, and it's the latest case of long-buried remains found after worsening weather
▼ + stars: | 2022-11-15 | by ( Paola Rosa-Aquino | ) www.businessinsider.com time to read: +5 min

Beachgoers found skulls and other bones in Florida after Hurricane Nicole, according to local news. "They are ancestors of the Seminole people," Tina Osceola, a member of the Seminole tribe in Florida, told WPTV. Joe Raedle/Getty ImagesBones won't stay buried in eroding beachesThis is not the first time that hurricanes have unearthed Indigenous remains. Switzerland's melting glaciers unearthed human remains and the wreckage of a historic plane crash. More recently, melting glaciers in the Swiss Alps revealed two sets of human remains and the wreckage of a 1968 plane crash that had been frozen beneath snow and ice this summer.

☆ Trump's favorite candidates disappoint on Election Day, raising questions about his 2024 pitch
▼ + stars: | 2022-11-09 | by ( Christina Wilkie | ) www.cnbc.com time to read: +4 min

At huge rallies over the weekend, Trump read off a list of Republican candidates while honing a speech that sounded like his own 2024 presidential campaign stump speech. The message was clear: Trump was the leader of the Republican Party, and the party would have Trump to thank for its expected victories on Election Day. But as returns began to come in Tuesday evening, the Republican rout driven by Trump's chosen candidates never materialized. Ohio Republican Senate hopeful J.D. In North Carolina, Trump-backed Republican Senate candidate Ted Budd defeated Democrat Cheri Beasley, NBC projected.

Efforts to investigate the 2020 election and institute changes to the state’s election procedures — the promises that helped propel DePerno onto the political map and won him former President Donald Trump’s endorsement. In Arizona, GOP gubernatorial nominee Kari Lake has repeatedly called the 2020 election “rigged” and “stolen” during the primary only to spend most of the general election talking about immigration, education, the economy and crime. After trailing in earlier polling, both Lake and Masters appeared neck-and-neck with their opponents in the campaign’s final days. Doug Mastriano, the GOP nominee who was outside the Capitol on Jan. 6 and whose campaign paid to bus people to the pro-Trump protest that proceeded the riot, has kept the 2020 election near the forefront of his campaign. “It’s people like her,” Whitmer said of Dixon, who has baselessly raised doubts about the 2020 election results, “who are the greatest threat to our democracy right now.”Dixon has defended her use of such rhetoric.

☆ Investors, you can bet on midterms bringing in a market rally even as the Fed keeps hiking rates.
▼ + stars: | 2022-11-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Let's start with a basic fact: Stocks have gained after every midterm election since World War II. But Ryan Detrick, chief market strategist at Carson Group, still thinks the stage is set for a substantial year-end market rally. How do you expect the stock market to react to the 2022 midterms? US stocks are ticking higher early Monday as election week begins. It's possible the stock market crashes 29% if a drop in corporate earnings happens at the same time as a recession.

☆ Election deniers are trying to influence the midterm elections at the polls, in the courts, and on the ballot
▼ + stars: | 2022-11-06 | by ( Katie Balevic | Kenneth Niemeyer | ) www.businessinsider.com time to read: +8 min

Election deniers who challenged the 2020 presidential election are influencing the 2022 midterms. Organizing efforts to reach voters directlyState by state, election deniers are already having an impact on the ground. Election deniers on the ballotDozens upon dozens of election deniers are also running for office in the midterms — many of whom Trump has endorsed. Nearly 300 election deniers are running for public office with 171 expected to be victorious on election night, according to The Washington Post. Mario Tama/Getty ImagesMany election deniers are running for seats in Congress while others are running in significant statewide races.

☆ 4 of our stocks are in the news. Here's the Club's take on each development
▼ + stars: | 2022-11-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +11 min

Four of our Club holdings — Costco Wholesale (COST), Amazon (AMZN), Humana (HUM) and Bausch Health (BHC) — were in the news Thursday. Bausch Health The news: Bausch Health reported third-quarter results before the opening bell Thursday. Given the latter's roughly $4.73 billion market capitalization, Bausch Health's stake is worth approximately $4.2 billion. The reason behind Bausch Health trading consistently below the valuation of its BLCO stake is debt. Secured debt means that Bausch Health has put up assets as collateral, meaning in the event of default the lenders take ownership of the collateralized assets.

☆ Arrest made after break-in at Democrat Katie Hobbs’ campaign headquarters
▼ + stars: | 2022-10-27 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +2 min

An arrest has been made in connection to a burglary at the campaign headquarters of Katie Hobbs, the Democratic nominee for governor of Arizona, Phoenix police said Thursday. Hobbs’ campaign confirmed to NBC News that it was made aware of the arrest. The burglary comes amid reports of voter intimidation in Arizona, where Hobbs, as secretary of state, is the top election official. In a statement Wednesday, Hobbs’ campaign manager tied the reports of alleged voter intimidation to Lake and other election deniers. She added that “Hobbs and her staff have faced hundreds of death threats and threats of violence over the course of this campaign.”

☆ Bill Gates' climate investment firm will put more money into adapting to climate change
▼ + stars: | 2022-10-25 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Eric Toone, one half of the investing committee at Breakthrough Energy, speaks to conference attendees at the breakthrough Energy Summit in Seattle on Wednesday October 19, 2022. Photo by Cat Clifford, CNBCSEATTLE — Breakthrough Energy Ventures, the climate technology investment firm started by Microsoft co-founder Bill Gates, will begin to invest more in companies that help people and businesses adapt to the consequences of climate change. "We're left with adaptation," Toone told the audience. But Breakthrough Energy Ventures is most certainly not a philanthropic organization. And in the past, the Gates Foundation has done a lot of work on adaptation," Toone told a group of reporters in a media briefing in Seattle.

☆ A 19th-century shipwreck and human remains were uncovered as the Mississippi River recedes
▼ + stars: | 2022-10-20 | by ( Paola Rosa-Aquino | ) www.businessinsider.com time to read: +4 min

Drought has unearthed a sunken 19th-century shipwreck and human remains in the Mississippi River. In early October, low water levels revealed the old sunken ship along the banks of the Mississippi River in Baton Rouge, Louisiana. A shipwreck is exposed along the banks of the Mississippi River in Baton Rouge, Louisiana, due to low water levels, on October 18, 2022. On Saturday, a woman found human remains while searching for rocks with her family on the banks of the drought-stricken river. The discovery in Mississippi comes after multiple sets of human remains surfaced in recent months in Nevada's Lake Mead — the country's largest reservoir.

“And I will accept the result if I don’t.”Arizona Republican nominee for governor Kari Lake sign a campaign poster for a supporter on Oct. 7 in Scottsdale. Mario Tama / Getty ImagesLake has seized on Hobbs’ refusal to debate and centered it during recent campaign appearances. Kristi Noem, a Republican, in Scottsdale last week, Lake again sharply criticized Hobbs for eschewing a statewide debate. The Kelly campaign told NBC News the senator does not have any imminent plans to campaign with Hobbs. Chuck Coughlin, an Arizona Republican pollster, said there are some “traditional Republican voters that are going, ‘No f---ing way, I’m not going there.

☆ New cars are finally back in stock — but Americans might not be able to afford them
▼ + stars: | 2022-10-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty ImagesDETROIT — New cars are slowly becoming more widely available, as supply chain bottlenecks finally start to ease. But now, an increasing number of Americans might not want them or be able to afford them. With the Federal Reserve aggressively hiking interest rates to fight inflation, consumers are finding that the cost of financing a new car is suddenly a lot higher than it was even earlier this year. That means many Americans may no longer to be able to afford the new cars that are starting to arrive on dealer lots. That, combined with rising interest rates, is pushing more car shoppers to look at used vehicles.

☆ Young Black activists are done waiting their turn for political office. They're taking on the 'John Lewis generation' of elder lawmakers who they say are out of touch.
▼ + stars: | 2022-09-29 | by ( Elvina Nawaguna | ) www.businessinsider.com time to read: +30 min

Most members of the Congressional Black Caucus are twice as old as the median Black person living in the US. The Congressional Black Caucus, a powerful voice for Black Americans, is significantly older than those it speaks for. Clay had replaced his father, William Lacy Clay Sr., a civil-rights icon and founding Congressional Black Caucus member who had represented the area since 1969. Tom Williams/CQ-Roll Call, Inc via Getty ImagesThe Congressional Black Caucus is reckoning with a leftward shift it's struggled to embrace. A spokesperson for the Congressional Black Caucus did not respond to Insider's request for comment.

☆ Costco's quarterly results indicate the retailer is thriving despite high inflation
▼ + stars: | 2022-09-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Margins Merchandise gross margins on a reported basis were 10.18% and down 74 basis points from last year, but excluding the impact of gas inflation it would have been lower by only 20 basis points. Core merchandise margins fell 67 basis points on a reported basis and were down 23 basis points ex gas inflation. Ancillary and other businesses' margins increased 20 basis points on a reported basis and 34 basis points excluding gas inflation. Elsewhere, "2% reward" reported margins were flat on a reported basis and fell 5 basis points ex gas inflation. LIFO — last in, first out — margins fell 27 basis points on a reported basis and 29 basis points excluding gas.

Suzanne Plunkett/CNN Restricted view: Concorde's windows were much smaller than those on a normal passenger airplane. Suzanne Plunkett/CNN Concorde cloakroom: Despite the space limitations, there was room for a closet to ensure Concorde's well-heeled passengers wouldn't crease their coats and garments. Suzanne Plunkett/CNN Work with perks: "The flight attendants loved being on it; the passengers loved being on it. Suzanne Plunkett/CNN Switches and dials: Meanwhile, in the cockpit, the pilots relied on simple analog dials and switches to control the super-fast jet. There are always rumors of new supersonic aircraft in the works, and I enjoy tracking the updates, but nothing seems concrete yet.

Persons: CNN —, it’s, Lewis Whyld, “, I’ve, I’d, Lewis, would’ve, Ian Waldie, Suzanne Plunkett, Gordon, Su Marshall, Richard Quest, Richard Ford, MARTYN HAYHOW, tycoons, Mario Tama, CNN's, ”, you’re, nothing’s, wouldn’t, –, we’ve, I’m Organizations: CNN, Concorde, Isambard Kingdom Brunel, downdraft, South West News Service, UK, Concorde Alpha, Aerospace Bristol, Business, British Airways, CNN Concorde, Getty, Bristol Aerospace, eBay, afterburners, Royce, Royce Olympus, Alpha, Aerospace, UK’s Press Association, The Telegraph, It’s Locations: Bristol, England, Clifton, Concorde, London, New York, AFP, Filton, France, Ukraine

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