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☆ ‘Doomsday fish:’ A rare oarfish returns to California shores for the second time this year
▼ + stars: | 2024-11-18 | by ( Dawn Sawyer | ) edition.cnn.com time to read: +4 min

CNN —The elusive deep-water oarfish – considered to be a harbinger of bad news – was spotted yet again on the shores of Encinitas, California. “We took samples and froze the specimen awaiting further study and final preservation in the Marine Vertebrate Collection,” Ben Frable, manager of the Scripps Oceanography Marine Vertebrate Collection, said in the post. “Like with the previous oarfish, this specimen and the samples taken from it will be able to tell us much about the biology, anatomy, genomics and life history of oarfish,” Frable said in the post. The fish was found in good condition according to the release, and it was taken in for examination and preservation to become a part of the organization’s Marine Vertebrate Collection. “It may have to do with changes in ocean conditions and increased numbers of oarfish off our coast,” Frable said.

Persons: Alison Laferriere, ” Ben Frable, ” Frable, ” Scripps, Santa Ana, ”, Dahiana Organizations: CNN, Scripps Institution of Oceanography, University of California, Scripps, National Oceanic, Atmospheric Administration Fisheries Service, Southwest Fisheries Science, Scripps Oceanography, Obscura, Ocean Conservancy, GeoScience Locations: Encinitas , California, Grandview Beach, San Diego, Japan’s, Japan, Ocean, La Jolla, Huntington Beach, Santa

☆ A mythical harbinger of doom washes up on a California beach
▼ + stars: | 2024-11-16 | by ( Hannah Peart | Hannah Peart Is An Intern In The Nbc News London Bureau. | ) www.nbcnews.com time to read: +3 min

The legendary “doom fish” has returned to California. A long, ribbon-shaped oarfish, rarely seen and believed to signal disaster, has washed up on California’s shores for the second time this year. PhD candidate Alison Laferriere from the Scripps Institution of Oceanography at UC San Diego discovered the nearly 10-foot-long oarfish on a beach in Encinitas, in southern California, last week. According to the Scripps Institution of Oceanography at UC San Diego, oarfish are incredibly rare. Since 1901, only 21 oarfish have been documented washing up on California shores, according to the institution.

Persons: ”, Alison Laferriere, oarfish, Ben Frable, Frable Organizations: Scripps Institution of Oceanography, UC San Diego, National Oceanic, Atmospheric Administration, NOAA's Fisheries Science Locations: California, Encinitas, Japan, Japan’s, La Jolla, San Diego

☆ Tesla faces NHTSA investigation of ‘Full Self-Driving’ after fatal collision
▼ + stars: | 2024-10-18 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

A Tesla Model 3 vehicle warns the driver to keep their hands on the wheel and be prepared to take over at anytime while driving using FSD (Full Self-Driving) in Encinitas, California, U.S., October 18, 2023. Tesla faces a new investigation by the National Highway Traffic Safety Administration, or NHTSA, concerning issues with its "Full Self-Driving" systems, and whether they are safe to use in fog, glaring sun or other "reduced roadway visibility conditions." The probe follows an incident in which a Tesla driver who had been using FSD, struck and killed a pedestrian, and other FSD-involved collisions during reduced roadway visibility conditions. Records posted to the NHTSA website on Friday morning said the purpose of the new probe would be to assess:"The ability of FSD's engineering controls to detect and respond appropriately to reduced roadway visibility conditions; whether any other similar FSD crashes have occurred in reduced roadway visibility conditions and, if so, the contributing circumstances for those crashes," among other things. The agency will also look into Tesla's over-the-air, software updates to its FSD systems, which are now marketed as "Full Self-Driving (Supervised)," to understand the "timing, purpose, and capabilities of any such updates, as well as Tesla's assessment of their safety impact."

Persons: Tesla Organizations: Tesla, National, Traffic Safety Administration Locations: Encinitas , California, U.S

☆ Olympic organizers gambled big on a dangerous surf spot and emerged golden
▼ + stars: | 2024-08-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +5 min

Olympic organizers made a big bet in holding the 2024 Paris Olympics surfing competition at an ominous location in French Polynesia nearly 10,000 miles from Paris, with pretty much no space for spectators. Despite reef-inflicted injuries and moments when the location was questioned as just too dangerous, it would be hard to conclude Teahupo'o didn't provide its own golden moments. The U.S.' John John Florence, the world's top-ranked professional surfer, was eliminated in the third round by Australia's Jack Robinson, who took silver. Marks took gold in a lip-bashing final heat that could have gone either way. Neither Marks nor Brazil's Tatiana Weston-Webb gave an inch during the heat, and Marks earned gold by one-tenth of a point.

Persons: Caroline Marks, Kauli Vaast —, Brazil's Gabriel Medina, John John Florence, Australia's Jack Robinson, Clarissa Moore, Johanne Defay, Moore, “, don’t, ” Moore, Vaast, Robinson, Marks, Brazil's Tatiana Weston, Webb, Teahupo'o, Colin Jost's, Jost, Teahupo'o's, Duke Kahanamoku Organizations: Team France, U.S, France, NBC, Olympics, Games, Angeles Olympics Locations: Polynesia, Paris, U.S, Tahiti, French Polynesia, France, Australia, Vaast, , California, Southern California

☆ HIIT workouts without jumping that are high-intensity but low-impact
▼ + stars: | 2024-07-16 | by ( Melanie Radzicki Mcmanus | ) edition.cnn.com time to read: +6 min

Increased cognitive function due to HIIT workouts was even seen in young adults, a February 2020 study showed, which researchers said indicated HIIT workouts may be both an efficient and effective way of combating cognitive decline as people age. “It always takes them by surprise.”Rowing machines are also a great choice for a high-intensity, low-impact workout, McCall said. “If you’re jumping up and down off a box, you’ll risk falling when you’re jumping back down. But don’t let that stop you from incorporating HIIT workouts into your weekly routine since they offer so many benefits, especially for older adults. “The biggest benefit we’re seeing now with HIIT workouts is the brain.”Sign up for CNN’s Fitness, But Better newsletter series.

Persons: you’ve, ”, Jonathan Tylicki, you’re, Pete McCall, ” McCall, Tylicki, ” Tylicki, McCall, “, Melanie Radzicki McManus Organizations: CNN, American College of Sports Medicine, International, of Environmental Research, Public Health, CNN’s Locations: Irvine , California, Encinitas , California

☆ A Tesla owner says his car’s ‘self-driving’ technology failed to detect a moving train ahead of a crash caught on camera
▼ + stars: | 2024-05-23 | by ( Ben Goggin | ) www.cnbc.com time to read: +5 min

"You do get complacent that it knows what it's doing," he said of the Tesla technology. Doty, a certified general appraiser in Ohio, was driving at around 60 mph, according to a Tesla crash report. The speed limit on the road was 55 mph, according to Doty and a police report associated with the accident. Drivers can request crash reports from Tesla, which are generated using data individual cars send to Tesla servers. The Tesla report shows that the car maintained a speed of around 60 mph while in Full Self-Driving mode before Doty slammed on the brakes and turned the wheel.

Persons: Craig Doty, Craig Doty II, Tesla's, Doty, David Paul Morris, Tesla, Elon Musk, Mike Blake Organizations: NBC News, Tesla, NBC, Bloomberg, Getty, National, Traffic Safety Administration Locations: Ohio, Encinitas , California, U.S

SACRAMENTO, Calif. (AP) — California would ban all plastic shopping bags in 2026 under a new bill announced Thursday in the state Legislature. California already bans thin plastic shopping bags at grocery stores and other shops, but shoppers at checkout can purchase bags made with a thicker plastic that purportedly makes them reusable and recyclable. “It shows that the plastic bag ban that we passed in this state in 2014 did not reduce the overall use of plastic. That's because most of the state's major cities already ban these types of thicker plastic bags. As San Francisco's mayor in 2007, Newsom signed the nation's first plastic bag ban.

Persons: Sen, Catherine Blakespear, “, Mark Murray, Gavin Newsom, Newsom Organizations: Democratic, Environment America Research & Policy, Democratic Gov, Francisco's Locations: SACRAMENTO, Calif, California, Encinitas

☆ Millions at risk as California braces for record rainfall and high winds
▼ + stars: | 2024-02-04 | by ( Leila Sackur | ) www.cnbc.com time to read: +4 min

Atmospheric rivers caused downpours in the Bay Area on Wednesday, bringing cable car services to a halt, before moving on to Los Angeles and San Diego by Thursday. Officials in Santa Barbara County raised evacuation advisories to orders on Saturday, calling on residents to be at a "very high state of readiness." Heavy rain and extreme weather caused roadway erosion at San Onofre's lower parking lot, with images on social media showing sections of the lot collapsing onto the beach below. A Sunday update from the National Weather Service Weather Prediction Center predicted risks of rainfall exceeding flash flood guidance across swathes of the state with "high risk" — estimated at 70% probability — for San Diego and Orange Counties. The storm comes as the San Diego County Medical Examiner's Office announced it was investigating three deaths in late January as related to California's last encounter with heavy storms.

Persons: Santa Barbara County, Gloria Sandoval, Flood, Gavin Newsom's Organizations: National Weather Service, Bay Area, California State Parks, NBC, Prediction, Orange Counties, San Diego, Examiner's Locations: California, Encinitas , California, U.S, Monterey County, Jose, Guadalupe, Santa Cruz, San Jose, downpours, Bay, Los Angeles, San Diego, Santa Barbara, Central Coast, Angeles County, Sonoma , Marin, San Francisco, Monterey, San Luis Obispo, Southern California's, Orange, San Diego County

☆ U.S. auto safety agency upgrades probe into Tesla power steering loss
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +4 min

U.S. safety regulators have upgraded their probe into Tesla vehicles over power steering loss to an engineering analysis - a required step before the agency could demand a potential recall. The National Highway Traffic Safety Administration (NHTSA) on Friday said the investigation covers about 334,000 Model 3 and Model Y vehicles from the 2023 model year. Some drivers reported harrowing tales of sudden power steering outages at speeds that nearly caused accidents. Some Tesla owners reported an inability to turn the steering wheel while others reported an increase in required effort. The latest recall includes vehicles across Tesla's various models, including the Model S, Model X, 2017-2023 Model 3, Model Y and 2024 Cybertruck vehicles, the NHTSA said.

Persons: Tesla, couldn't, NHTSA's, Sophie Shulman, Tesla's Cybertruck Organizations: Tesla, Traffic Safety Administration, Reuters, NHTSA, Consumer Locations: Encinitas , California, U.S, United States

☆ Has the LA scene fizzled? SoCal has fallen further behind the Bay Area, NYC and Boston for startup funding: 'People deep in AI are just not in LA'
▼ + stars: | 2024-01-23 | by ( Ben Bergman | ) www.businessinsider.com time to read: +8 min

But last year, the LA tech scene stalled, according to Carta data. Startup funding plummeted everywhere, but nowhere experienced a steeper decline than LA, where funding declined 65% from 2022. CartaLA's startup funding dropped 65% last year, a steeper decline than the Bay Area, New York or Boston. "They're very deep AI companies, but they're being applied to a vertical, which is one of the strengths of LA," Ingersoll said. Bird goes bust and Snap snaps backThere was more bad news for LA's startup scene in 2023 than just the dismal funding numbers.

Persons: Ethan Aldrich, Aldrich, there's, Andreessen Horowitz, a16z, Katia Ameri, Ameri, VCs, Nikita Bier, Bier, Mark Suster, Suster, LA's, we're, Palmer Luckey, Minnie Ingersoll, Ingersoll, Bird, Zillow, Spencer Rascoff, Evan Spiegel ERIC PIERMONT, Ishan Singh, Singh Organizations: Stanford, Business, Lightspeed Venture Partners, Coatue Management, LA Tech, LA, Carta, Honest Company, New, Boston, Microsoft, Clark, SpaceX Locations: Santa Monica, Southern California, LA, Santa, Hayes, San Francisco, Los Angeles, San Francisco and New York, New York, Boston, Carta, San Diego, Seattle, Hawthorne , CA, Costa, Bay

☆ Top Wall Street analysts expect these dividend stocks to enhance total returns
▼ + stars: | 2023-12-03 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Dividend-paying stocks give investors a combination of potential price appreciation and income, which can enhance total returns. Bearing that in mind, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. (See Sunoco Hedge Funds Trading Activity on TipRanks)VICI PropertiesOur next dividend stock is VICI Properties (VICI), a real estate investment trust. For the third quarter, the company declared a cash dividend of $0.415 per share, reflecting a 6.4% increase. For the third quarter, the company declared a cash dividend of $2.09 per share, payable on Dec. 14.

Persons: Mike Blake, Wall, Elvira Scotto, Scotto, TipRanks, Sunoco, VICI, Simon Yarmak, Yarmak, Christopher Horvers, Horvers Organizations: Reuters, Energy, Crestwood Equity Partners, RBC Capital, MGM, North American, JPMorgan, TipRanks, Walmart Locations: Encinitas , California, U.S, Crestwood, Vegas

☆ A financially independent 32-year-old who built wealth trading stocks explains why he's moved nearly half his net worth into real estate, and his most lucrative properties
▼ + stars: | 2023-12-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

"Since then, my lowest return has been 13.78% in 2018," the 32-year-old California-based Marine vet told Business Insider. This story is available exclusively to Business Insider subscribers. While the stock market is his bread-and-butter, he's been gradually diversifying his portfolio and adding real estate in the mix. About two years ago, Smolinski broke into the commercial real estate investing space. "I will maintain this position until things start to change: If all of a sudden the commercial real estate has a bad three-year run, okay, I will reallocate.

Persons: Erik Smolinski, he's, Smolinski, He's, we've, I'm Organizations: Business Locations: California, Encinitas , California, Fort Lauderdale , Florida, Arizona, Las Vegas

At the 12th annual Exposure Skate competition this month in the California beach town of Encinitas, girls under 10 and in their teens were shredding. "I hope girls' skateboarding improves even more and we can push each other and beat the boys," Suganami added with a laugh. Parents of the skateboarding girls are equally stoked by the expertise and the attention. "They are missing that girls are the future of skateboarding and girls can be good at skateboarding too," said Lulu Johnson. "So what you will see if you go to a skate park or skateboarding contest, is the competitors are cheering each other, supporting each other.

Persons: Jordyn Barratt, Mike Blake, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mary Milliken, Lincoln Organizations: REUTERS, Reuters, Thomson Locations: Hawaii, Encinitas , California, U.S, , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

☆ 'She Shreds': Skateboarding Girls up Their Game at California Contest
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

Persons: Mike Blake ENCINITAS, Cona Suganami, Suganami, Amelia Brodka, Brodka, Tony Hawk, Hawk, Lauren Wigo, Marisol Concha, Lisa Lilley, Ruby, Lilley, Mindy Johnson, Lulu, Lulu Johnson, extol, Mike Blake, Mary Milliken, Lincoln Organizations: Reuters Locations: Mike Blake ENCINITAS , California, California, Encinitas, Tokyo, Poland, Park, New York City, Oceanside , California, Minnesota

☆ Valero tops profit estimates in strong start to U.S. refiner earnings
▼ + stars: | 2023-10-26 | by ( Arunima Kumar | ) www.reuters.com time to read: +2 min

The logo for Valero Energy Corporation is shown at a Valero gas station in Encinitas, California, U.S., May 2, 2016. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Valero Energy Corp FollowOct 26 (Reuters) - Refiner Valero Energy (VLO.N) beat analysts' estimates for third-quarter profit on Thursday, powered by sustained fuel and refined products demand against the backdrop of tight supplies. For the current quarter, Valero expects refining throughput between 2.93 million and 3.04 million bpd. The Diamond Green Diesel Port Arthur plant, which started up in the fourth quarter of 2022, boosted the sales volumes, Valero said. The 3-2-1 crack spread, a proxy for refining margins, fell around 35% during the July-September quarter.

Persons: Mike Blake, Lane Riggs, Valero, refiners, TD Cowen, Jason Gabelman, Arunima Kumar, Sriraj Organizations: Valero Energy Corporation, REUTERS, Companies Valero Energy Corp, Refiner Valero Energy, Valero, Green Diesel, U.S ., Thomson Locations: Valero, Encinitas , California, U.S, Saudi Arabia, Russia, Green Diesel Port Arthur, U.S . East Coast, San Antonio , Texas, Bengaluru

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 23 (Reuters) - The U.S. Justice Department has sought documents and issued subpoenas to Tesla (TSLA.O) as it scrutinizes the automaker's driver assistance system Autopilot and vehicle driving range, among other issues, the company said on Monday. Tesla said in a regulatory filing it has received requests for information "including subpoenas, from the DOJ. These have included requests for documents related to Tesla’s Autopilot and FSD features" and other requests "associated with personal benefits, related parties, vehicle range and personnel decisions." Reuters reported in October 2022 that Tesla was under a Justice Department criminal investigation over claims the company's electric vehicles can drive themselves, citing people familiar with the matter. The company's spending is, however, expected to return to the $7 billion to $9 billion range in the next two years, a regulatory filing showed.

Persons: Mike Blake, Tesla, Elon Musk, Musk, Aditya Soni, Juby Babu, David Shepardson, Maju Samuel, Savio D'Souza, Jonathan Oatis Organizations: Tesla, Beta, REUTERS, U.S . Justice Department, DOJ, Reuters, Justice Department, Street, Chief, Traffic, Administration, Thomson Locations: Encinitas , California, U.S, Mexico

☆ The 2023 harvest moon is also the last supermoon of the year. Here's the best time to see it when it rises next week.
▼ + stars: | 2023-09-20 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

This next supermoon is also a harvest moon. Next Friday's supermoon is also this year's harvest moon, which is the full moon that occurs closest to the first day of autumn. It's called the harvest moon because it occurs around the time each year when farmers in the northern hemisphere are ready to harvest their crops. AdvertisementAdvertisementThe best time to see the harvest supermoon is at moonriseA full moon, also a harvest moon, rises past thunder clouds near Encinitas, California September 8, 2014. So, the best time to see this year's harvest supermoon is right around moonrise, which is approximately 7:00 pm local time.

Persons: It's, Mike Blake Organizations: Service, NASA, REUTERS Locations: Wall, Silicon, Encinitas , California, moonrise

☆ DirecTV to temporarily restore Nexstar-owned stations
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

A DirecTV satellite dish is seen on a residential home in Encinitas, California November 5, 2014. REUTERS/Mike Blake Acquire Licensing RightsSept 17 (Reuters) - DirecTV and Nexstar (NXST.O) have agreed to temporarily return the signals of the Nexstar-owned stations and national cable news network NewsNation to DirecTV, DirecTV Stream and U-verse, the companies said in a joint statement on Sunday. In July, satellite provider DirecTV removed TV station owner Nexstar's network and local community programming from its satellite, cable and streaming systems as they failed to reach a new distribution agreement. Nexstar, the largest local TV station owner in the U.S., had previously said that DirecTV rejected its offer to extend the current distribution agreement to Oct. 31, affecting its markets in Los Angeles, Chicago, Philadelphia, San Francisco and Denver. Reporting by Kanjyik Ghosh and Shivani Tanna in Bengaluru; Editing by Alex Richardson and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Kanjyik Ghosh, Alex Richardson, Jane Merriman Organizations: DirecTV, REUTERS, Nexstar, Thomson Locations: Encinitas , California, U.S, Los Angeles, Chicago, Philadelphia, San Francisco, Denver, Bengaluru

☆ Some Gen Xers Are Still Stoked About Skateboarding
▼ + stars: | 2023-09-12 | by ( Suryatapa Bhattacharya | Photographs Maggie Shannon For The Wall Street Journal | ) www.wsj.com time to read: 1 min

People who skate well into their adult years often do so because they have a baseline comfort with the sport, said skateboarding legend Tony Hawk. A member of Deathracer413 at a skate park in Encinitas, Calif.

Persons: Tony Hawk Locations: Encinitas, Calif

☆ Majority of US dog owners hesitant about canine vaccines, study finds
▼ + stars: | 2023-09-12 | by ( Rollo Ross | ) www.reuters.com time to read: +2 min

The study of Canine Vaccination Hesitancy (CVH) by Boston University's School of Public Health was released on Aug. 26. It found 37% of owners consider dog vaccines to be unsafe, 22% of dog owners view them as ineffective, and 30% deem them unnecessary. In all, 53% of dog owners held one of these three views, according to the study, which was conducted in partnership with the market research and data analytics company YouGov. However, veterinarians also try to persuade dog owners to get their pets vaccinated against other diseases. In California, vets recommend vaccines against parvovirus, canine hepatitis and distemper.

Persons: Mike Blake, Matt Motta, " Motta, Todd Calsyn, hesitancy, that's, it's, Calsyn, Patty Sosa, " Sosa, Sandra Stojanovic, Rollo Ross, Jorge Garcia, Bill Berkrot Organizations: REUTERS, Boston University's School of Public Health, Reuters, Laurel Pet Hospital, UNICEF, Thomson Locations: Encinitas , California, U.S, California, Laurel, West Hollywood, Laguna Beach, Los Angeles

☆ In Encinitas, a $28.75 Million Spec Home Looks to Blow Previous Price Record Out of the Water
▼ + stars: | 2023-09-05 | by ( Sarah Paynter | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/luxury-homes/in-encinitas-a-28-75-million-spec-home-looks-to-blow-previous-price-record-out-of-the-water-aac3d62

Persons: Dow Jones

☆ Back-to-school US spending set to hit record high in 2023
▼ + stars: | 2023-09-01 | by ( Kailyn Rhone | ) www.reuters.com time to read: +4 min

The National Retail Federation, a retail trade group, predicts spending will surpass $135 billion, an increase of more than $24 billion from last year. “The larger the school, the more they are needed,” said Leslie Sparacello, a school superintendent in Austin, Texas, whose former school required clear backpacks. Clear backpacks available on Amazon.com's (AMZN.O) marketplace are priced starting at $9.97, according to its website. A spokesperson said Walmart has recorded an increase in demand for clear backpacks in the last two back-to-school seasons, specifically in Texas, Florida and Mississipi. The company has a separate section for clear backpacks under its backpack category starting at $4.89.

Persons: Mike Blake, jean, ”, Chip West, Melissa Cohen, Polo Ralph Lauren, Nikki Mcneri, Mcneri, Leslie Sparacello, Calvin McDonald, West, Matthew Bilunas, Josie Kao Organizations: REUTERS, National Retail Federation, MBC Consulting, Walmart, Kailyn Rhone, Thomson Locations: Encinitas , California, U.S, Georgia, jorts, Austin , Texas, Canada, Texas , Florida

REUTERS/Mike Blake/File Photo Acquire Licensing RightsChocolate makers are banking on the traditional resilience of their product to price increases. The data showed Hershey's sales volumes increasingly declined during the period as the company hiked prices. "We are seeing consumers starting to react more than before, I'd be very cautious with price increases," said Dan Sadler, a candy expert at U.S.-based market researcher IRI. Barry Callebaut (BARN.S), the world's biggest chocolate maker supplying most major brands including Nestle (NESN.S), doesn't expect any growth in sales volumes this year. Pennsylvania-based Hershey, is hoping that as it eases off the rate of price hikes, its sales volumes will reverse their current downtrend.

Persons: Nielsen, Dirk Van de, Luca Zaramella, Patrick Folan, Mike Blake, Mondelez, Hershey, Zaramella, Bernstein, I'd, Dan Sadler, Barry Callebaut, Hershey's, Michele Buck, Matt Scuffham, Elaine Hardcastle Organizations: Nielsen, Hershey, Reuters, Consumers, Cadbury, Barclays, REUTERS, IRI, Nestle, Rabobank, El, Kailyn, Thomson Locations: Europe, United States, North America, Encinitas , California, U.S, Pennsylvania, El Nino, West Africa, Ivory Coast, Ghana, Kailyn Rhone, New York

☆ Tupperware preserves lessons for Mark Zuckerberg
▼ + stars: | 2023-08-25 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

REUTERS/Mike Blake (UNITED STATES - Tags: BUSINESS) Acquire Licensing RightsNEW YORK, Aug 25 (Reuters Breakingviews) - Tupperware Brands (TUP.N) is struggling to stop the rot. As much as technology has remade business strategies over the past 77 years, Facebook owner Meta Platforms (META.O) leans on a comparable one. Enter Brownie Wise, the saleswoman credited with pioneering the “Tupperware effect” of teaching women how to flog to their friends by hosting themed gatherings in their living rooms. Ironically enough, in the interim Tupperware also become the product of another modern network effect, a meme stock, or a highly speculative online investment. Tupperware has about a quarter of the active salesforce it did at the end of 2012, the same year Facebook bought Instagram.

Persons: Mike Blake, UNITED, –, Earl Tupper, Tupperware, Brownie Wise, Tammy Hembrow, June Cleaver, influencers, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Safeway Inc, Reuters, Tupperware, Meta, Pew Research, Facebook, Brands, Thomson Locations: Encinitas , California, Vons, Australian, Tupperware’s

"The increase in sugar and cocoa specifically is material," Mondelez CFO Luca Zaramella said in July. The data showed Hershey's sales volumes increasingly declined during the period as the company hiked prices. Barry Callebaut (BARN.S), the world's biggest chocolate maker supplying most major brands including Nestle (NESN.S), doesn't expect any growth in sales volumes this year. In the U.S., private label sales volumes grew nearly 9% in the year to mid-June despite near double-digit price rises, IRI data shows. Pennsylvania-based Hershey, is hoping that as it eases off the rate of price hikes, its sales volumes will reverse their current downtrend.

Persons: Mike Blake, Dirk Van de, Luca Zaramella, Patrick Folan, Mondelez, Hershey, Zaramella, Bernstein, I'd, Dan Sadler, Barry Callebaut, Hershey's, Michele Buck, Matt Scuffham, Elaine Hardcastle Organizations: REUTERS, Hershey, Reuters, Consumers, Nielsen, Cadbury, Barclays, IRI, Nestle, Rabobank, El, Kailyn, Thomson Locations: Encinitas , California, Europe, North America, U.S, Pennsylvania, El Nino, West Africa, Ivory Coast, Ghana, Kailyn Rhone, New York

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