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☆ Yellow Corp financial woes not economy-wide issue -White House adviser
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 31 (Reuters) - White House economic adviser Jared Bernstein on Monday said the reported impending bankruptcy of cash-strapped U.S. trucking company Yellow Corp (YELL.O) does not indicate an economy-wide problem. "So I think that this looks like a more of a Yellow story than an economy-wide one by a long shot," Bernstein said. Yellow Corp has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. The company was the third-biggest U.S. trucker specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. "Nobody likes to see an event like this, as you say, practically a 100-year old company and iconic American Trucking Company and the job losses that you cited."

Persons: Jared Bernstein, Monday, Bernstein, Doina Chiacu, Bernadette Baum, Mark Potter Organizations: Yellow Corp, of Economic Advisers, CNBC, Corp, Teamsters Union, Teamsters, American Trucking Company, Thomson

☆ Paul Reubens, actor best known as Pee-wee Herman, dies at 70
▼ + stars: | 2023-07-31 | by ( Austin Mullen | David K. Li | ) www.cnbc.com time to read: +3 min

Actor Paul Reubens arrives as a guest for Comedy Central television's South Park The Tenth Season party in Los Angeles September 21, 2006. Actor Paul Reubens, who came to fame in the 1980s as children's TV star Pee-wee Herman, has died years after a cancer diagnosis, his team said Monday. Reubens rocketed to fame for creating the sarcastic but good-natured man-child Pee-wee Herman, a character whose red bowtie and sneering catch phrases — "I know you are, but what am I?" That eventually led to Reubens' big break, the 1985 movie "Pee-wee's Big Adventure," helmed by first-time feature film director Tim Burton. The success of "Pee-wee's Big Adventure" led to Reubens landing a Saturday morning CBS show, "Pee-wee's Playhouse."

Persons: Paul Reubens, Herman, Paul, Reubens, I've, Tim Burton, Penelope Cruz, Johnny Depp, Jimmy Kimmel Organizations: Comedy Central, Facebook, HBO, CBS, wee's Locations: Los Angeles, American, Sarasota Florida

☆ Paul Reubens, Pee-wee Herman star, dead at 70
▼ + stars: | 2023-07-31 | by ( Lisa Respers France | ) edition.cnn.com time to read: +5 min

CNN —Paul Reubens, who found fame as the quirky man-child character Pee-wee Herman, has died, his publicist announced. It was after college that Reubens created the iconic character Pee-wee Herman while a member of the famed Los Angeles improv group, The Groundlings. Paul Reubens as Pee-wee Herman in 2009. The HBO broadcast of the show introduced the Pee-wee Herman character to a national audience. In 2010, he produced, co-wrote and starred in an updated revival of “The Pee-wee Herman Show” in Los Angeles.

Persons: CNN — Paul Reubens, Herman, “, Paul Reubens, ”, “ Paul, ” Reubens, I’ve, Reubens, Nick Burns, Camelot, Walt Disney, Danny Moloshok, Stephen Sondheim, Judd Apatow, Laurence Fishburne, Natasha Lyonne, Jimmy Smits, Sandra Bernhard, S, Epatha, ” “, Raymond, ” Paul Reubens, Isabella Vosmikova, Friend, Adam Shankman Organizations: CNN, Ringling Bros, Barnum, Southside Elementary, The Players, Brookside Junior High, Boston, California Institute of the Arts, Walt, HBO, CBS, Netflix, NBC, ” “ Reno, Disney, Entertainment Locations: American, Peekskill , New York, Sarasota , Florida, Sarasota, “, Los Angeles, Angeles

And yet, the industry is currently battling the highest level of unfilled job openings ever recorded. The construction industry averaged more than 390,000 job openings per month in 2022, the highest level on record, while unemployment in the sector of 4.6% was the second lowest on record. "Commercial construction materials prices are now 40% higher than they were back in February 2020. For construction workers, pay is boomingFor workers who seek construction jobs, the timing has never been better. "The construction industry is now paying 80% more than the average non-farm job in the United States."

Persons: Anirban Basu, Maria Davidson, Lori Ann Larocco, Davidson, it's, Michael Elder, Rucha Vankudre, It's, Brian Turmail, Turmail, doesn't, we've, Vankudre Organizations: Associated Builders and Contractors, ABC, MBTA, Boston Globe, General Contractors of America, . Census Locations: U.S, Boston, United States

Alyssa Powell/Business InsiderThe American Express® Green Card just got a refresh, with a record-high welcome bonus offer and improved benefits. The travel statement credit isn't as straightforward as it sounds, but it's a great deal if you can use it. Plus, if you max out the travel statement credit, you'll offset the entire annual fee (and then some) for the first year. Amex Green Card benefitsThe Amex Green Card already comes with statement credits that can help offset the annual fee, though they're not the sole reason to open the card. But there are other Amex Green card benefits that are appealing to travelers that don't require signing up for a subscription.

☆ Tractor maker Deere's future in precision agriculture hinges on space-based connectivity
▼ + stars: | 2023-05-18 | by ( Morgan Brennan | ) www.cnbc.com time to read: +5 min

But the farm equipment maker has been planting the seeds for an increasingly high-tech and autonomous future – one that critically hinges on space. But connectivity is the linchpin of this vision, and space fills a void left by fiber and traditional cellular signals. "We think satellite communications is a really intriguing, interesting technology to pursue to sort of solve that communications gap." Last fall the company put out a request for proposal to the satellite communications industry to partner on space-based connectivity services. "We had this opportunity to bring two industries together — satellite space communications and agriculture — and say, 'What kind of value could we create?'"

☆ HSBC downgrades Anheuser-Busch InBev as it deals with a 'Bud Light crisis'
▼ + stars: | 2023-05-10 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to step to the sidelines on Anheuser-Busch InBev as it deals with a "Bud Light crisis," according to HSBC. It's mixed," Laboy wrote in a Wednesday note. The way this Bud Light crisis came about a month ago, management's response to it and the loss of unprecedented volume and brand relevance raises many questions." Laboy wrote. Anheuser-Busch InBev did not immediately respond to CNBC's request for comment.

☆ The Nordstrom dynasty: How wealthy heirs are still running the iconic American department store more than 100 years after it was founded on $13,000 in gold
▼ + stars: | 2023-04-13 | by ( Avery Hartmans | ) www.businessinsider.com time to read: 1 min

Just a tremendous young man," his father, Bruce, told The Times in 2019. His brother, Erik, said at the time that he would often reflexively think to ask Blake for advice. "Something will come up and I'll have this thought in my head like, 'Oh, Blake's better at that,' or 'That's Blake's strength,'" Erik said. Erik and Blake Nordstrom. Getty ImagesSource: The New York Times

☆ The rise and fall of Macy's, the beloved American retailer which just announced a new CEO to lead its revival efforts
▼ + stars: | 2023-03-31 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

As one of the oldest and largest department stores in the nation, Macy's is an icon of American retail. Despite its dominance, Macy's has struggled in recent years to overcome slumping sales and continues to shutter stores. Here's the story of Macy's rise to iconic American retailer and a look at its recent stumbles. Since its humble beginnings as a small dry goods store in New York City, Macy's has pioneered several components of the modern department store, including onsite tailoring, dining, and elaborate window dressings. While the fate of the retailer remains unknown, we took a look at Macy's meteoric rise and recent struggles.

☆ Ford to announce $3.5 bln battery plant in Michigan, sources say
▼ + stars: | 2023-02-10 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Feb 10 (Reuters) - Ford Motor Co (F.N) is set to announce as soon as Monday it plans to build a new $3.5 billion lithium iron phosphate battery plant in Michigan, sources told Reuters. Ford is expected to own and operate the plant with Chinese battery company China's Contemporary Amperex Technology Co Ltd (CATL) (300750.SZ) as a technology partner to help develop the batteries, sources said. The rules were aimed at weaning the United States off the Chinese battery supply chain. Virginia Governor Glenn Youngkin has faced some criticism for withdrawing from a competition to attract a new Ford battery plant over its connection to CATL. Reuters reported in January that Michigan was also a candidate for the Ford battery plant, sources said, and a decision could be made in the coming weeks.

☆ Exclusive: Huge chunk of plants, animals in U.S. at risk of extinction
▼ + stars: | 2023-02-06 | by ( Brad Brooks | ) www.reuters.com time to read: +6 min

REUTERS/Luisa GonzalezFeb 6 (Reuters) - A leading conservation research group found that 40% of animals and 34% of plants in the United States are at risk of extinction, while 41% of ecosystems are facing collapse. Importantly, the report pinpoints the areas in the United States where land is unprotected and where animals and plants are facing the most threats. Nearly half of all cacti species are at risk of extinction, while 200 species of trees, including a maple-leaf oak found in Arkansas, are also at risk of disappearing. The threats against plants, animals and ecosystems are varied, the report found, but include "habitat degradation and land conversion, invasive species, damming and polluting of rivers, and climate change." California, Texas and the southeastern United States are where the highest percentages of plants, animals and ecosystems are at risk, the report found.

☆ PE firms' eagerness to recruit junior bankers is blowing up in their faces. Here's why they need to change.
▼ + stars: | 2023-01-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As Insider's Emmalyse Brownstein reports, some PE firms are scrambling to fill positions that, in years past, would have been locked up for months. Some context on PE recruiting: Firms recruit, interview, and make offers to junior bankers well ahead of their actual start dates. Some junior bankers didn't feel comfortable interviewing for a new role when they had barely settled into their current ones. The fact PE firms need to go back to the well to fill open seats should be a wake-up call. Click here to read more about how PE firms' early recruitment of junior bankers backfired.

☆ Virginia Gov. Youngkin stokes 2024 campaign speculation after killing Ford battery plant over China links
▼ + stars: | 2023-01-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

But this week, Virginia Republican Gov. (Virginia doesn't allow governors to serve consecutive terms, so Youngkin can't seek re-election.) “There’s a logic to the politics of Youngkin’s decision,” said Liam Donovan, a Republican strategist and lobbyist. Gretchen Whitmer telling the Detroit News that Youngkin’s “political determination” created an “exciting opportunity” for her state. “Carlyle makes a lot of money out of China,” said Surovell, the Democratic state senator.

☆ Amazon's AWS to invest $35 bln in Virginia
▼ + stars: | 2023-01-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 20 (Reuters) - Amazon.com Inc's (AMZN.O) cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In 2021, AWS said from 2011 to 2020 it had invested $35 billion in data centers located in northern Virginia and had 3,500 full time employees at its data centers in the state. AWS also will be eligible to receive a state grant of up to $140 million "for site and infrastructure improvements, workforce development, and other project-related costs."

☆ "Yellowstone" prequel “1923” bring white grievances to Paramount Plus
▼ + stars: | 2022-12-18 | by ( Ani Bundel | Ani Bundel Is A Cultural Critic Who Has Been Writing Regularly Since Her Work Can Also Be Found At Elite Daily | Weta'S Telly Visions | ) www.nbcnews.com time to read: +5 min

It’s a grimmer chapter of an ongoing story, and one that is plagued by an inability to articulate why these white men murdering their way across the landscape are heroes worth rooting for. Cultural critics love prestige series. Few celebrated the end of the toxically misogynist “The Big Bang Theory,” or have seemed eager to discuss the resurgence of seemingly endless police procedurals starring white men. But the series has gained viewership year over year, with subsequent spinoffs debuting on new flagship streaming service, Paramount+. Like so many white male grievances, to question the logic is to side with the enemy.

☆ The trade issues at stake for US and China economies at Indonesia meeting
▼ + stars: | 2022-11-14 | by ( Juliana Liu | ) edition.cnn.com time to read: +7 min

Frustrated by China’s huge trade surplus and accusing it of stealing US intellectual property, former President Donald Trump slapped tariffs on $50 billion of Chinese goods in June 2018. China, with its nearly $18 trillion economy, has in recent years been the main driver of global growth. China responded by slapping tariffs of its own on iconic American products like Harley-Davidson and Jack Daniel’s. Tech curbsBekink said she did not expect any dramatic shifts in trade flows to emerge as a result of the Biden-Xi meeting. US imports of semiconductors from China are 26% lower than before the imposition of 25% tariffs, according to Peterson.

☆ The McRib 'Farewell Tour' is McDonald's latest attempt to cash in on nostalgia
▼ + stars: | 2022-10-26 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

McDonald's is once again promoting a "farewell tour" for the McRib sandwich. The McRib sandwich. It's a strategy that's designed to create a sense of urgency for customers, according to Vanderbilt University marketing professor Kelly Goldsmith. The scarcity marketing tactics are a way ... to be playful and stay engaged with their consumers. Kelly Goldsmith Vanderbilt University marketing professor

☆ Stock market keeps rallying even though consumers feel lousy
▼ + stars: | 2022-10-25 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —Consumers may be worried about inflation and rising interest rates. But don’t tell that to Wall Street. So why is the market in rally mode even though consumers are worried about the rising price of just about everything? So even though consumers and businesses may feel lousy every time they buy something and see how much it costs…they are still spending. The famous saying about Wall Street is that markets are forward looking.

☆ As families and 'Parrotheads' flock to campgrounds and RV parks, institutional real-estate investors see their next big score
▼ + stars: | 2022-05-23 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +13 min

Investors are eyeing profits in campgrounds and RV parks as Americans flock to the great outdoors. Camp Margaritaville RV Resort and Cabana Cabins Auburndale, Central FloridaThe trend is also driven by demographics. Sam Zell's Equity Lifestyle Properties, another large REIT that invests in RV parks alongside mobile homes, has also been busy. While it's not clear how much big investors have thrown into RV campgrounds, manufactured housing communities as a whole have seen a burst of Wall Street financing. After looking hard at multifamily and industrial, he settled with RV parks.

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