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☆ Apple is accelerating plans to move production out of China as protests and riots intensify in response to zero-Covid policies, report says
▼ + stars: | 2022-12-03 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Apple is increasing its efforts to shift production outside of China, according to the Wall Street Journal. Production at factories like Foxconn has taken a massive hit amid riots over zero-Covid policies. Shifting production will likely be difficult in the current global economic climate, sources told WSJ. In November, the area known as "iPhone City" erupted into violent protests among employees over withheld pay and strict zero-Covid policies that prompted a lockdown in Zhengzhou. The protests, which coincided with the start of the holiday shopping season in the US, have led to significant supply chain issues and shortages of Apple iPhone products.

☆ United Furniture Industries owner reportedly has vanished and is staying silent after laying off 2,700 staffers right before Thanksgiving
▼ + stars: | 2022-12-02 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

United Furniture Industries founder David Belford has remained silent and unreachable since firing 2,700 employees last week. Belford allegedly shut down a plan to file for Chapter 11 bankruptcy days before the layoffs, the New York Post reported. Staffers were terminated in late-night emails and texts sent right before Thanksgiving. In the messages, sent just before midnight, UFI said it was laying off "all employees" due to "unforeseen business circumstances." "Belford said, 'We are not going forward with a Chapter 11,'" Hearn told the New York Post.

☆ An Ohio family is suing Kroger claiming their son who killed himself after working there was harassed by his managers in case that challenges 'suicide rule'
▼ + stars: | 2022-12-02 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

The family of Evan Seyfried, who died by suicide in March 2021, is suing his employer claiming he was harassed and bullied. The lawsuit against Kroger challenges a decades-old precedent in Ohio that prevents placing legal blame in the case of suicide. Evan Seyfried's family claims store managers harassed and bullied him, ultimately causing Seyfried to take his own life in March 2021. Pigg, the suit claims, told Seyfried he could hack into Seyfried's computer and track his internet usage, and later allegedly sent him obscene and pornographic messages from unknown numbers. Kroger did not respond to Insider's request for comment, but told the Enquirer it does not comment on ongoing litigation.

☆ New York City seeks a 'bloodthirsty' rat czar: Ad for director of rodent mitigation job to fight serious, gnawing problem is ... actually pretty funny
▼ + stars: | 2022-12-01 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

New York City is hiring a "director of rodent mitigation" for a salary of between $120,000 and $170,000. Rat sightings are up 71% this year from 2020, according to data from the NYC Department of Sanitation. A rat is seen by a trash bin in New York City on October 19, 2022. Lokman Vural Elibol/Anadolu Agency via Getty ImagesWhile New York City has long been synonymous with rats, sightings have skyrocketed. Sanitation Commissioner Jessica Tisch made an anti-rat statement in November that went viral, and became the subject of countless memes, New York City marathon signs — and now a shirt.

☆ Apple restricted AirDrop capabilities in China ahead of anti-government protests, leaving dissenters without key communication tool as demonstrations spread
▼ + stars: | 2022-11-27 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Apple limited the use of AirDrop tools in China earlier this month ahead of anti-government protests. The restrictions, which limit sharing via AirDrop to up to 10 minutes, are exclusive to China. Demonstrations erupted across the country this weekend in response to strict zero-COVID policies. Typically, users can opt to receive AirDrop content from everyone for an unlimited period of time. Earlier this month, the company told Bloomberg it intends to roll out the setting globally to prevent unwanted file sharing.

☆ Miami nightclub owners are struggling with slumping sales after losing top-spending crypto clientele in wake of FTX implosion and crypto downfall, report says
▼ + stars: | 2022-11-27 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Miami club owners told the Financial Times business is slumping as the crypto industry takes a blow. Crypto, tech, and hedge fund leaders came to the city en masse during the pandemic. But in the wake of the FTX implosion, some of the city's top spenders have vanished. Now, with the downfall of companies like FTX, club owners and promoters aren't quite certain if big spenders will return, as the value of cryptocurrencies take a nosedive and major players like Sam Bankman-Fried hemorrhage vast amounts of their net worth. According to the FT, FTX paid $135 million to secure 19 years worth of naming rights to FTX Arena, home to the Miami Heat.

☆ One of biggest the US furniture companies laid off nearly 3,000 workers in overnight emails and texts without severance or benefits right before Thanksgiving
▼ + stars: | 2022-11-26 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

United Furniture Industries laid off 2,700 employees shortly before midnight on Monday, according to local reports. One former employee filed a class-action lawsuit against the company claiming it violated the WARN Act. A follow-up email subsequently stated that "all benefits will be terminated immediately without provision of COBRA," leaving laid-off employees without health insurance. In the lawsuit, Neal states that the employees were fired via email and/or text message shortly before midnight on Monday, FreightWaves reported. The mass layoffs at the furniture company join a growing list of terminations across industries in recent weeks as a recession looms, ranging from tech giants like Meta and Twitter to fellow retailers like Amazon.

☆ Death of the doorbuster: Black Friday shatters online shopping record with more than $9 billion in sales as in-store participation wanes
▼ + stars: | 2022-11-26 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Black Friday online sales reached a record-high of $9.12 billion, according to Adobe Analytics. Adobe said online sales growth was driven by increased use of buy-now-pay-later options. Black Friday shoppers shattered online sales records this year, reaching $9.12 billion, up from 2.3% in 2021, according to Adobe Analytics data. Electronics largely led online sales growth, alongside other top categories like audio equipment, toys, and exercise equipment, the findings showed. Looking ahead, Adobe predicts additional growth on Cyber Monday, still the biggest online shopping event of the season, with a forecast of $34.8 billion in online sales, up 2.8% from last year.

We consulted food blogs, online reviews, and social media to find the best and worst products at Trader Joe's. Here are 36 products to buy at Trader Joe's and 15 you should consider skipping. That's even more impressive when you consider Trader Joe's doesn't have sales, a loyalty program, or even an online store. We consulted food blogs, online reviews, and social media to find the best and worst Trader Joe's products for shoppers. With that in mind, here are 38 products to buy at Trader Joe's and 16 more you should skip every time.

☆ These are the major retailers which will be charging customers to return items this holiday season
▼ + stars: | 2022-11-25 | by ( Grace Dean | ) www.businessinsider.com time to read: 1 min

Saks Fifth Avenue told Insider that customers can return items by mail within 30 days. If returned within 14 days of shipping they don't have pay, but if it's longer than that they'll have to pay a $9.95 return charge. Bethany Biron/Business InsiderSource: Saks Fifth Avenue

☆ These 6 companies are bucking the Black Friday conspicuous consumption trend — from fully closing stores to going all in on charity efforts
▼ + stars: | 2022-11-24 | by ( Bethany Biron | ) www.businessinsider.com time to read: +1 min

REIREI first debuted its Opt Outside campaign in 2015, becoming one of the first major retailers to close its doors on Black Friday. This year, the outdoor recreation retailer announced it will eschew shopping holiday for good, after seven consecutive years of opting outside. While the website is still open for online orders, processing and fulfillment is paused until Saturday, according to the company. He continued: "When we first introduced this movement, it was considered revolutionary for a retail brand, but we felt it was the right thing to do for our members and employees. Making Opt Outside an annual observance will serve as a yearly reminder of this commitment to doing the right thing for the co-op community."

☆ FTX founder Sam Bankman-Fried donated $40 million to political campaigns leading into the midterms, leaving some concerned about crypto's place in Washington, report says
▼ + stars: | 2022-11-20 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried and FTX execs donated a total of $70 million to political campaigns in 18 months, according to OpenSecrets. Bankman-Fried himself donated $40 million to mostly liberal efforts, while fellow exec Ryan Salame gave $23 million primarily to Republicans. He was the second highest donor for liberal efforts behind George Soros and the sixth highest donor overall. Meanwhile, Ryan Salame, a fellow FTX senior executive, donated more than $23 million primarily to Republican candidates and efforts. "Frankly, everyone should always be skeptical of things like this," Bankman-Fried said of political donations.

☆ Late Zappos founder Tony Hsieh said he believed he was 'crystallizing' and part of 'a simulation' in month before death, court documents reveal
▼ + stars: | 2022-11-20 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Court documents filed this week provide more insight into the final weeks of the life of Zappos founder Tony Hsieh. According to the documents, the month before his death, Hsieh, who was 46 at the time, was taken to the hospital after he said he believed he was "crystallizing." The documents, which also noted that Hsieh had begun chewing on cigarettes as his health declined, state that Hsieh first began using ketamine in November 2019 before openly experimenting with nitrous oxide, KTNV reported. Per KTNV, Andrew Hsieh was offered a $1 million salary to care for his brother. According to the filings, Andrew Hsieh also requested that "vitamins and protein supplements" be added to his brother's food, as he was becoming increasingly emaciated, KTNV reported.

☆ 'SNKRS app really pulling a Ticketmaster right now': Nike botches the drop of the new Air Jordan 1 'Lost and Found' and infuriates sneakerheads
▼ + stars: | 2022-11-19 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Sneaker collectors are frustrated with Nike after its SNKRS app glitched during the Air Jordan 1 "Lost and Found" drop. Many took to Twitter to complain of error messages and app crashes that prevented them from entering the drawing. Nike has faced mounting criticism for its struggle to prevent bots and resellers from taking over hyped shoe drops. Frustrated collectors took to Twitter en masse Saturday to commiserate over technical issues on Nike's SNKRS app that stopped them from entering a drawing to purchase the sneakers. Others joked that Twitter seemed to be more functional than the SNKRS app, despite widespread layoffs and a mass exodus under new leader, Elon Musk.

☆ Ticketmaster provides no real answers as it struggles to explain disastrous Taylor Swift Eras Tour concert sale
▼ + stars: | 2022-11-19 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

Ticketmaster apologized for its chaotic and botched ticket-sale system for Taylor Swift's upcoming tour. "We want to apologize to Taylor and all of her fans — especially those who had a terrible experience trying to purchase tickets," Ticketmaster wrote in a tweet Friday night. "We're working to shore up our tech for the new bar that has been set by demand for the Taylor Swift | The Eras Tour," Ticketmaster wrote. This disrupted the predictability and reliability that is the hallmark of our Verified Fan platform," Ticketmaster wrote. According to Ticketmaster, a record-breaking 3.5 million fans registered to the verified presale in hopes of snagging a ticket on Nov. 15.

☆ Inside 4 of the biggest VC-basked startups that went public and crashed, from Casper Sleep to Blue Apron
▼ + stars: | 2022-11-17 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Bird became the latest VC-backed startup showing signs of distress, after hinting at a potential bankruptcy this week. The company is among several former success stories struggling against competition and a tough economy. Here are four of the biggest VC-backed startup downfalls of recent years. Meanwhile, VC-backed startup darlings of recent years — many of which held the vaunted $1 billion valuation unicorn status — are suddenly unable to keep their heads above water. Here's a look at four of the biggest VC-supported startups that went public and crashed in recent years.

☆ Bahamian police reportedly interviewed Sam Bankman-Fried this weekend, investigations into downfall intensify
▼ + stars: | 2022-11-13 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Bahamian police questioned FTX founder Sam Bankman-Fried on Saturday, Reuters reported. The police say they are investigating if "criminal misconduct occurred" tied to the downfall of FTX. Bankman-Fried was rumored to have fled to Argentina earlier this weekend. The Royal Bahamas Police questioned Bankman-Fried to discover if any "criminal misconduct occurred," Reuters reported on Sunday. The Financial Times later reported that FTX held only $900 million in sellable assets against $9 billion in liabilities.

☆ A United flight attendant is taken to the hospital after a 'disturbance' involving a passenger with a child seen screaming in a video on flight to Chicago
▼ + stars: | 2022-11-13 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

A United flight attendant was taken to a hospital after an altercation with an unruly passenger. The Chicago Police Department told Insider it responded to reports of "a disturbance that had occurred on a plane." In a video shared by passenger Peter Kondelis, a woman on the plane appears to be screaming while standing in the aisle holding a young child. "A disruptive customer on a flight from San Francisco to Chicago was removed by law enforcement upon landing on Sunday, and one member of the flight attendant crew was taken to a hospital for evaluation," the spokesperson said. According to Twitter account @WindyCityWxMan, which shares real-time police scanner alerts, three ambulances were specifically requested for the flight attendant, the passenger, and the passenger's child.

☆ Fallen FTX founder Sam Bankman-Fried says he is in the Bahamas despite buzz that he fled to Argentina after his company's collapse
▼ + stars: | 2022-11-13 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

FTX founder Sam Bankman-Fried is denying rumors he fled to Argentina. He told Reuters he is still in the Bahamas, where FTX is based. The former CEO is in hot water for the demise of his cryptocurrency exchange. The Financial Times reported Saturday that FTX held $9 billion in liabilities against just $900 million in sellable assets. Bankman-Fried relocated FTX headquarters from Hong Kong to the Bahamas in 2021.

☆ Chaos unchecked: A comprehensive timeline of Elon Musk's Twitter verification saga - for now
▼ + stars: | 2022-11-12 | by ( Bethany Biron | ) www.businessinsider.com time to read: +12 min

Elon Musk's revamped Twitter Blue launch has hit some major snags in the past week. The shenanigans surrounding the blue check (and subsequent gray check) has heads spinning among average Twitter users, major advertisers and big-name celebrities. Here's a look at everything that's happened with Twitter Blue in the past week and the murky state of verification on the platform. Musk's new verification model was designed to become part of Twitter's existing Twitter Blue feature, a $4.99 monthly subscription offering premium services. He also said that Twitter is adding a "parody subscript," because "tricking people is not ok."It is unclear when and how Twitter Blue may be reinstated.

☆ 'This dude is bullshit': Elon Musk describes the first time he met now disgraced FTX founder Sam Bankman-Fried
▼ + stars: | 2022-11-12 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Elon Musk said his "bullshit meter was redlining" after meeting with Sam Bankman-Fried before the Twitter takeover to discuss an investment. Musk said he felt there was "something wrong" during the discussion. And I know my bullshit meter was redlining. Bankman-Fried stepped down as CEO, lost 94% of his net worth, and admitted he "fucked up twice" in an apology on Twitter. Musk tweeted early Saturday morning "FTX meltdown/ransack being tracked in real-time on Twitter" and also posted a crude meme of Bankman-Fried.

☆ After narrowly avoiding the Retail Apocalypse, many companies are once again at risk of bankruptcy — and these 10 may be next
▼ + stars: | 2022-11-10 | by ( Bethany Biron | ) www.businessinsider.com time to read: +1 min

However, the credit rating company said the number of defaults won't reach pandemic level-highs as the industry has "emerged in better shape to meet the growing challenges," analysts wrote in an October report. A clothes shop tries to sell the last of its stock before closing down on February 1, 2012 in Stoke-On-Trent, England. Staffordshire has borne the brunt of the economic downturn with the loss of 21,100 manufacturing jobs which have fallen from 74,200 in 2006/07 to 53,100 in 2010/11, the highest in the UK according to a survey by the GMB union. Christopher Furlong/GettyTheir findings anticipate defaults to rise to 5.5%, up from the current rate of 1%, but still well below 23% in 2020. "As the retail industry squares off for another period of rising defaults over the next 12 months, this time will be markedly different from the last downturn during the pandemic, when defaults skyrocketed," Moody's analysts wrote in the report.

☆ Elon Musk said a monetization model is coming 'for all forms of content' on Twitter — it may beat YouTube's
▼ + stars: | 2022-11-06 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Elon Musk said a monetization model is coming "for all forms of content" on Twitter. He said on Saturday that the forthcoming model intends to surpass YouTube's current creator rates. The billionaire, who officially took over at the helm of the social-media company earlier this week, said this weekend that new content formats are coming, followed by a monetization model for creators. He added that Twitter plans to surpass YouTube's current rate, which pays creators 55% of total ad revenue generated from their videos. "We can beat that," Musk tweeted in response to Quinn Nelson, an influencer, referring to YouTube's current model.

☆ Twitter backtracks: Elon Musk's platform will delay its paid blue check verification plan until after midterms: NYT
▼ + stars: | 2022-11-06 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Twitter is pushing the launch of its paid verification plan until after the midterm elections, the New York Times reported Sunday. In its updated app description on Saturday, Twitter wrote that Twitter Blue with verification was available "starting today" in iOS in the US, Canada, Australia, New Zealand, and the UK. "Starting today, we're adding great new features to Twitter Blue, and have more on the way soon," the app description read. "Get Twitter Blue for $7.99/month if you sign up now. In a tweet on Saturday, Musk responded to critics of the paid plan, and said his intention is to lower the number of verified accounts he believes were given "arbitrarily."

☆ Actress Valerie Bertinelli 'becomes' Elon Musk, trolling the billionaire on Twitter to prove a point about blue check verification system
▼ + stars: | 2022-11-06 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Valerie Bertinelli posed as Elon Musk on Twitter this weekend to show flaws in his newly proposed verification system. After changing her display name, she posted dozens of tweets in support of Democratic candidates. Several celebrities — including Shonda Rhimes and Sara Bareilles — have expressed plans to leave Twitter since Musk took over, citing concern with his leadership. "The blue checkmark simply meant your identity was verified," Bertinelli wrote on Twitter after changing her name. As "Elon Musk," she posted hashtags like #VoteBlueToProtectYourRights and shared tweets supporting gubernatorial contenders Gretchen Whitmore in Michigan and Beto O'Rourke in Texas, among others.

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