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☆ Amazon Cuts Dozens of House Brands as It Battles Costs, Regulators
▼ + stars: | 2023-08-10 | by ( Dana Mattioli | ) www.wsj.com time to read: 1 min

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☆ Amazon Expected to Post Strongest Quarterly Profit Since 2021
▼ + stars: | 2023-08-03 | by ( Dana Mattioli | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Amazon Delivers Surprisingly Strong Profit as Retail Business Improves
▼ + stars: | 2023-08-03 | by ( Dana Mattioli | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Amazon Is Asking Some Employees to Relocate, Return to ‘Main Hub’ Offices
▼ + stars: | 2023-07-21 | by ( Sebastian Herrera | Dana Mattioli | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Shopify to Lay Off 20% of Its Workforce as It Sells Logistics Business to Flexport
▼ + stars: | 2023-05-04 | by ( Liz Young | Dana Mattioli | ) www.wsj.com time to read: 1 min

Shopify spent about $2.5 billion to buy Deliverr and 6 River Systems. Photo: Justin Tang/Associated PressFlexport is buying Shopify ’s logistics-fulfillment operations, including U.S. e-commerce platform Deliverr, setting up the freight company to add home-delivery services that would compete with Amazon.com for retailer business. Shopify is also selling its 6 River Systems warehouse robotics operation to U.K. automated grocery-fulfillment specialist Ocado Group .

I love writing about personal finance, but personal responsibility isn't the be-all and end-all. How disability shapes my family's finances »Demographic disparities persist through educationLike all areas of education, financial education suffers from disparities in school funding, which exacerbate racial inequality. As one instructor told the USBE auditors, "Financial literacy is critical to the financial wellbeing of our country. Financial education is under-resourced and undersupportedThe problems with financial education aren't surprising, given the lack of attention the subject receives from decision-makers. I'm glad I ignored mainstream financial advice »Financial literacy needs to include our history of inequalityPersonal finance media, gurus, and educators love to tout financial literacy as the missing puzzle piece to the American dream.

☆ Real-estate investors who nearly went bust on their first and only flip are now landlords of a 16-apartment building. They say real estate is anything but 'easy' or 'passive.'
▼ + stars: | 2023-03-30 | by ( Aj Latrace | ) www.businessinsider.com time to read: +5 min

Louisville investors Dana McMahan and Mike Consigliere bought a rundown house for $80,000 in 2020. They lost money on the deal, even after selling the rehabbed house for $435,000 two years later. Now they own a profitable 16-rental building but warn others that real-estate investing is not easy. But after getting a lead on a 16-unit rental property, they scrounged up their remaining savings and cashed out their 401(k) retirement accounts to buy it. Travel nurses and medium-length renters, though, will pay closer to $1,500 a month, McMahan said.

The Amazon electric delivery van is one of the three vehicles Rivian builds at its Normal, Ill., factory. Amazon .com Inc. and Rivian Automotive Inc. are in talks to scrap the exclusivity part of their electric-van deal, allowing the auto maker to sell to others, after the technology giant’s order for 2023, according to people familiar with the matter. Under terms of a 2019 agreement, Rivian is required to sell all of the vans it makes to Amazon. In recent months, Amazon notified Rivian that it wanted to buy about 10,000 vans this year, which was at the low end of a range it previously provided the auto maker, the people said.

See Insider's picks for the best mortgage lenders »Insider's Featured Mortgage Lenders Rocket Mortgage by Quicken LoansAmeriSave Mortgage Corporation MortgagesNew American Funding Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Only a handful of US states require financial education in high schools, and those requirements are thin. The Consumer Financial Protection Bureau has free, easy-to-navigate content about tons of financial products, including mortgages. The Consumer Financial Protection Bureau has free, easy-to-navigate content about tons of financial products, including mortgages. There's a dearth of consumer education built into our financial systems (likely by design).

Oct. 7, 2021 - APHIS director Robert Gibbens declines the request, citing “optics” and the risks of COVID-19 exposure. Oct. 25, 2021 – Three APHIS inspectors find 13 violations at Envigo, seven of which are “direct" or "critical." Nov. 16-19, 2021 - APHIS inspects Envigo and finds 26 violations, 14 of which are "direct" or "critical." Feb. 16, 2022 - Miller informs her staff that Goldentyer has removed her from working on any more Envigo inspections. March 8, 2022 - APHIS employees inspect Envigo and find five violations, two of which are “direct.”May 3, 2022 - APHIS inspects Envigo and only cite the company for failing to fix the dangerous flooring.

The Justice Department’s decision to subpoena government witnesses who would normally testify voluntarily to help build the government’s criminal case was highly unusual, according to a half-dozen legal and animal welfare experts. The inspectors wanted APHIS to take a tougher stance against the company for the mistreatment of the beagles. Yet, this did not happen with any of the agency's inspections of Envigo, public records show. TENSIONS RISETensions between Gibbens and Miller escalated shortly after Envigo appealed some of the findings from the October inspection, emails show. Gibbens told Envigo APHIS would strike the citation because the company ultimately provided the requested information.

☆ Amazon Employees Will Be Able to Use Stock as Collateral for Home Loans
▼ + stars: | 2023-02-28 | by ( Dana Mattioli | ) www.wsj.com time to read: 1 min

Amazon historically has given less cash compensation to employees than its big-tech peers, and tried to make up the difference with restricted stock units. Amazon .com Inc. employees will soon be able to use their company shares as collateral when buying homes, under an arrangement with online mortgage lender Better.com. A new Better.com product, Equity Unlocker, will allow employees to pledge stock for loans for down payments, the companies said, rather than having to sell the stock to raise cash.

☆ NABE economists still expect a recession this year. The question is when
▼ + stars: | 2023-02-27 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Nearly 60% of survey respondents said they believe the US had a more than 50% shot of entering a recession in the next 12 months. When such a recession would start was another matter: 28% said first quarter, 33% said second quarter, and 21% said third quarter. Creating some uncertainty among economists, however, is what the Fed might do during that time as well as the potential effect from external factors. NABE economists said they expect unemployment to increase, but the majority doubt it’ll exceed 5%. A mere 2% of respondents said that a “housing market bust” was the greatest downside risk to the US economy in 2023.

☆ Amazon Corporate Workers Face Pay Reduction After Shares Slip
▼ + stars: | 2023-02-20 | by ( Dana Mattioli | Sebastian Herrera | ) www.wsj.com time to read: 1 min

Amazon is in the midst of one of the toughest financial stretches in its history. The steep decline in Amazon .com Inc.’s stock over the past year is roiling the technology company’s stock-heavy compensation plan, resulting in employee pay coming in significantly lower than target compensation, according to people familiar with the matter. Amazon pays its corporate employees a large chunk of their annual salaries in restricted stock units, and a prolonged slump in the company’s shares is causing pay for 2023 to be between 15% and 50% lower than the projected targets Amazon gave to employees, some of the people said.

☆ FTC Prepares Possible Antitrust Suit Against Amazon
▼ + stars: | 2023-02-03 | by ( Dana Mattioli | Brent Kendall | ) www.wsj.com time to read: 1 min

The Federal Trade Commission is preparing a potential antitrust lawsuit against Amazon .com Inc. that in the coming months could challenge an array of the tech giant’s business practices as anticompetitive, according to people familiar with the matter. The timing of any case remains in flux, some of the people said. The commission also could opt not to proceed, and doesn’t always bring cases even when it is making preparations to do so.

It's more than twice the average student loan debt of recent college graduates. Why I'll never refinance my student loan debtDebt-payoff plans like to tout student loan refinancing, but the route doesn't offer great benefits for most borrowers. Around 92% of outstanding student loan debt is from federal student loans, while private loans make up just under 8%, according to data firm MeasureOne. If you're among the vast majority with federal student loan debt, refinancing comes with some serious drawbacks. You can roll any federal student loan into a Direct Consolidation Loan and apply for an income-driven repayment plan, like I did.

☆ Bain Capital Co-Chairman to Retire
▼ + stars: | 2023-01-17 | by ( Laura Cooper | Dana Mattioli | ) www.wsj.com time to read: 1 min

Steve Pagliuca will remain a senior adviser at the firm, and will be involved in portfolio companies in which he holds a board seat. Bain Capital co-chairman Steve Pagliuca is retiring after a 34-year career at the private-equity firm. Mr. Pagliuca will remain a senior adviser at the firm, and will continue to be involved in the portfolio companies in which he holds a board seat, and he will be a significant investor in Bain’s funds, part of a plan put in place years ago, he said. Co-managing partners John Connaughton and Jonathan Lavine will continue to run Bain, roles they assumed in 2016.

☆ I made $163,000 in revenue in one year as a freelance writer. Here are 5 game-changers I wish I knew sooner in my career.
▼ + stars: | 2023-01-13 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +6 min

I went back to full-time freelancing in January 2020, and last year, I made about $163,000 in revenue. Here's what I wish I knew sooner about making it as a freelance writer. Make sure that everyone in your corner knows that you're freelancing and that you're looking for work, and don't be shy about reminding them of that. I never went back to working a full-time job because I love the freedom and sense of job security freelancing gives me, especially in a dicey economy. If I were laid off from a full-time job, my entire income would get taken away all at once.

☆ Brazilians Demand Punishment for Rioters, Lula Vows Investigation
▼ + stars: | 2023-01-10 | by ( ) www.wsj.com time to read: 1 min

Tech Layoffs Pile Up as Bosses Reverse CourseAfter a period of aggressive hiring to meet heightened demand for online services during the pandemic, tech companies are now laying off many of those workers. And tech bosses are saying “mea culpa” for the miscalculation. WSJ reporter Dana Mattioli joins host Zoe Thomas to talk through the shift and what it all means for the tech sector going forward.

☆ California Storm Forces Evacuations, Rescues Amid Severe Flooding
▼ + stars: | 2023-01-10 | by ( ) www.wsj.com time to read: 1 min

☆ Tech Industry Reversal Intensifies With New Rounds of Layoffs
▼ + stars: | 2023-01-09 | by ( Dana Mattioli | Miles Kruppa | ) www.wsj.com time to read: 1 min

The Spheres at the headquarters of Amazon, which said planned layoffs will affect more than 18,000 employees. Tech’s reassessment is intensifying, as a new wave of layoffs signals how executives are pivoting from a growth-above-all mindset to protecting their bottom line. After a bruising 2022 in which companies from small startups to tech giants slammed the brakes on expansion, some of the biggest names in the sector are demonstrating that an era of austerity is only beginning, with expenses closely scrutinized and moonshot projects abandoned. Amazon.com Inc. and Salesforce Inc. both announced plans for layoffs in the past week.

☆ Flexport Names Former Amazon Executive as President
▼ + stars: | 2023-01-05 | by ( Paul Berger | ) www.wsj.com time to read: +2 min

com Inc. executive, is joining Flexport Inc. as the digital-focused freight forwarder boosts its growth ambitions under the leadership of former Amazon consumer chief executive Dave Clark. The San Francisco-based company named Ms. Carlson president and chief commercial officer, overseeing sales, marketing and communications, Flexport said Thursday. Ms. Carlson specializes in cloud computing. Mr. Clark in September took on the role of Flexport co-CEO alongside the company’s founder and CEO Ryan Petersen. Mr. Clark has hired former Amazon employees including public-relations executive Kelly Cheeseman, logistics executive Parisa Sadrzadeh and human-resources executive Darcie Henry.

☆ Amazon Layoffs to Hit Over 18,000 Workers, the Most in Recent Tech Wave
▼ + stars: | 2023-01-05 | by ( Dana Mattioli | Jessica Toonkel | ) www.wsj.com time to read: 1 min

The headquarters of Seattle-based Amazon, which was initially expected to pare roughly 10,000 employees from the company’s workforce. Amazon .com Inc.’s layoffs will affect more than 18,000 employees, the highest reduction tally revealed in the past year at a major technology company as the industry pares back amid economic uncertainty. The layoffs are concentrated in the company’s corporate ranks and represent roughly 5% of that element of its workforce, and 1.2% of its overall tally of 1.5 million employees as of September.

☆ Amazon Layoffs to Hit Over 17,000 Workers, Most in Recent Tech Wave
▼ + stars: | 2023-01-05 | by ( Dana Mattioli | Jessica Toonkel | ) www.wsj.com time to read: 1 min

The headquarters of Seattle-based Amazon, which was initially expected to drop at total of roughly 10,000 employees. Amazon .com Inc.’s layoffs will affect more than 17,000 employees, the highest reduction tally revealed in the past year at a major technology company as the industry pares back in the face of economic uncertainty, according to people familiar with the matter. The Seattle-based company in November said that it was beginning layoffs among its corporate workforce, with cuts concentrated on its devices business, recruiting and retail operations. At the time, The Wall Street Journal reported the cuts would total about 10,000 people. Thousands of those cuts began last year.

☆ This Former Auto Executive Is Now CEO of a Billion-Dollar Online Pharmacy
▼ + stars: | 2022-12-24 | by ( Dana Mattioli | ) www.wsj.com time to read: 1 min

In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here. Alicia Boler Davis spent nearly 25 years at General Motors Co. rising up the ranks from a manufacturing engineer to running global manufacturing and labor relations for the automobile giant.

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