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☆ Multi-strat hedge funds like Citadel and Millennium are the new big banks
▼ + stars: | 2023-03-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

There's an old saying on Wall Street: You can only leave Goldman Sachs once. Insider's Alex Morrell has a fascinating look at how Goldman Sachs' top executives have headed to some of the top hedge funds in the world in recent years. Poaching talent is a longstanding tradition on Wall Street, and the path from the investment banks to the buy side is a well-worn one. It's an indication of the shifting tides on Wall Street between the firms that traditionally held all the power (big banks) and the ones usurping them (multi-strat hedge funds). Click here to read more about how Goldman Sachs alumni are getting poached by the world's biggest hedge funds.

☆ 4 small business owners say a low-cost advertising strategy called 'comarketing' has helped them save time and money, and build more authentic campaigns
▼ + stars: | 2023-03-21 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +8 min

This might include cobranded content marketing campaigns, collaborative social media posts, event or content sponsorships, or affiliate marketing. Comarketing offers many benefits to small businessesComarketing can help small businesses save money, stretch their marketing budgets, build a stronger brand identity, and grow customer awareness. Connect with like-minded small businessesAlignment is crucial when choosing other small businesses to partner with, Smith said. When working with other businesses on social media marketing, Boone said everyone agrees on a timeframe. She and Merrell do this by sharing similar topics across their brands' social media channels, but slightly tweaking the messaging to appeal to each audience.

☆ A nature videographer flying a drone spotted an endangered loggerhead sea turtle struggling in the red tide. He quickly alerted wildlife officials who showed up to save it.
▼ + stars: | 2023-03-18 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

After he quickly alerted officials, the turtle was rescued and is still recovering at a rehab facility. The rehab facility confirmed the turtle had been exposed to red tide, a toxic algae bloom. Upon zooming in with his drone, it was obvious to McCarthy that the turtle needed help, and needed it fast. He knew the video would help him show that the turtle needed help. FWC notified Clearwater Marine Aquarium, which was located nearby and has a dedicated rescue and rehab facility for marine life.

☆ Why Spanish baby eels are so expensive
▼ + stars: | 2023-03-17 | by ( Claudia Romeo | Pj Rickards | ) www.businessinsider.com time to read: +1 min

Baby eels are a delicacy in Spain. A single kilogram can reach thousands of dollars at auction. To reach just 1 kilo, fishers need to catch 3,000 eels. They are a delicacy in Spain, where a single kilogram can reach thousands of dollars at auction. Fishers need to catch 3,000 eels to reach just 1 kilo, a task that requires spending entire nights in the water, in total darkness, braving strong tides and stormy seas.

☆ Grand Central Madison: Moving With the Commuting Tides
▼ + stars: | 2023-03-15 | by ( Michael J. Lewis | ) www.wsj.com time to read: 1 min

Inside the new Grand Central Madison in New YorkNew YorkYou can’t judge Grand Central Madison, the new terminal of the Long Island Rail Road, by looking at it; there is nothing to see. The entire station sits underground, all 700,000 square feet of it, stretched out along a five-block concourse from 43rd to 48th streets. (Only a discreet ventilation facility at either end is visible from the sidewalk.) Such a structure you must judge by moving through it, as passengers have been doing since it opened this January, if not yet the 160,000 daily riders that are expected.

☆ 9 questions you should always ask when buying a car
▼ + stars: | 2023-03-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

☆ New York City launches program to help lower-income residents recover from floods
▼ + stars: | 2023-03-10 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

New York City has introduced a new pilot program that will help residents from lower-income communities recover more quickly from major flooding events. The program is designed in part to help frontline communities get quicker relief after climate-related disasters and make up for an often slow and complex payout process from private insurance providers or the federal government. Tens of thousands of New Yorkers reside in low-lying neighborhoods where climate change has prompted rising sea levels, worsening coastal storms and more frequent flood events. Rising tides and more frequent storms in New York City will put up to $242 billion of real estate at risk of coastal flooding by the 2050s, according to a report by the city's comptroller. "I think of this pilot as one of many potential creative ways we can start improving equity and recovery," Kousky said.

☆ Let's ditch the 5-day workweek and the 8-hour workday, says a professor writing a book on how to fix work
▼ + stars: | 2023-03-05 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

He thinks a shorter week and a shorter work day are overdue, and that we're heading in the right direction. People do want to work, Bruno said, but they don't want to be resentful about being there. When it comes to a shorter workweek, Bruno said, "I'm very confident it would bring people in, because what are you saying to those people? Senator Bernie Sanders is calling for a shorter workweek; Rep. Mark Takano has reintroduced his proposal to make a 32-hour workweek law in the US. Have you tried out a shorter workweek or workday?

Gondolas are docked along a canal with a low water level during a low tide in Venice, Italy, Saturday, Feb. 18, 2023. Some of Venice's smaller canals are running dry amid unusually low tides and a lack of rainfall, making it difficult for gondolas, water taxis and ambulance boats to navigate the Italian city. Dwindling water levels in the canals are linked to a combination of issues, including a prolonged spell of low tides and a lingering high-pressure weather system over much of Italy. The situation in Venice, which is historically known for its regular flooding, comes after weeks of dry winter conditions in Italy that have prompted fears of another drought emergency after the dry summer last year. Take a look at some photos from the past couple weeks of docked gondolas in Venice's canals:

☆ ‘Daisy Jones & the Six’ Sparked Sam Claflin’s Love for Los Angeles
▼ + stars: | 2023-02-28 | by ( Marc Myers | ) www.wsj.com time to read: 1 min

Sam Claflin, 36, is an English actor who has appeared in the film “Pirates of the Caribbean: On Stranger Tides” and in the TV series “Peaky Blinders.” He currently stars in the Prime Video series “Daisy Jones & the Six.” He spoke with Marc Myers. Growing up in Norwich, England, I was obsessed with football, what Americans call soccer. I played on four teams—for my school, my county, Norwich City Academy and a Sunday league.

☆ Tesla is losing its most loyal customers — and that’s bad news for Elon Musk.
▼ + stars: | 2023-02-28 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

Plus, it's even more gross, since this generation obsession appears to be a capitalism-fueled strategy to get our money. They stuck with Elon Musk along a bumpy ride: "production hell," multiple federal investigations, and other catastrophes. Meanwhile, the company keeps losing its edge elsewhere. Nora breaks down how Musk keeps Elon-ing, while Tesla keeps getting beat down. It's part of the multi-day Mobile World Congress — the largest mobile telecommunications event in the world — in Barcelona, Spain.

☆ Goldman Sachs: Here are 12 stocks that 'smart money' hedge funds are moving to as a micro-driven economy sets them up to outperform the broad market
▼ + stars: | 2023-02-25 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs says hedge funds are pivoting from cyclical value back to growth. Hedge funds did slightly better as they white-knuckled their way through, closing the year down by 4%, according to Goldman Sachs' Hedge Fund Trend Monitor, which analyzes 758 funds. The average hedge fund is trailing closely behind, up 3%, according to a February 21 note from Goldman Sachs. As of February 21, Goldman Sachs' Hedge Fund VIP list (GSTHHVIP), which compiles the top long positions of fundamentally driven hedge funds, was up by 10% this year. The typical hedge fund holds 70% of its long portfolio in its top 10 positions, according to the note.

☆ Gondolas left stranded as Venice's canals run dry
▼ + stars: | 2023-02-24 | by ( Claudio Lavanga | ) www.cnbc.com time to read: +3 min

Gondolas are pictured in the Grand Canal during a severe low tide in the lagoon city of Venice, Italy, March 17, 2022. "I have been a gondolier for 28 years, and I have never seen so many low tides at once," he added. "Low water levels in Venice are unheard of, especially at this time of the year," said Giovanni Cecconi, the president of the Venice Resilience Lab. "During low tides we could use the barriers to stop the water from getting out of the lagoon," he said. However, Claudio Scarpa, the director general of the Venetian Hoteliers Association, said the low tides did bring some benefits.

☆ 60,000 miles of US roads could be under water in a few decades. Here's how experts say we can save our critical infrastructure.
▼ + stars: | 2023-02-16 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +9 min

"In the Keys, if you redo your house, you have to mitigate it for sea level rise," he told Insider. The islands are particularly exposed to rising sea levels. Across the country, you can expect coastlines to rise an average of 10 to 12 inches over the next 30 years, according NOAA's Sea Level Rise Viewer, which lets you adjust sea level rise and visualize how in trouble your house or your commute might be. Then, he started doing what NOAA recommends, reading about sea level rise and the plans that individual communities are studying to increase their own resiliency. By understanding how to adapt incrementally, and starting to act as soon as possible, the US can learn how to adapt to rising sea levels.

☆ I find peoples' lost jewelry on beaches for a living. I have a 90% success rate, and most searches take me under 2 hours.
▼ + stars: | 2023-02-13 | by ( Gary Nunn | ) www.businessinsider.com time to read: +6 min

Michael Oliver would hunt for lost metal as a hobby while working as a forklift driver. I called my business Lost Jewelry Recovery rather than naming it as a metal-detecting service, because jewelry is the main thing clients call me to recover. The equipment tells me exactly where to dig and how far downSometimes I find lost jewelry in five minutes or less. There are heaps of lost rings: engagement rings, wedding rings, family heirlooms, 21 st-birthday rings, grandma's ring — the lot. Reunions are often emotionalSometimes curious beachgoers who've watched the nail-biting search burst into spontaneous applause when I find the lost item.

At 6 p.m. (0500 GMT) Gabrielle had moved southeast of Auckland, near the east coast of the country's North Island, and was expected to continue moving southeast, roughly parallel to the coast. Weather warnings remained in place for much of the east coast of the North Island and upper South Island. A view shows high tides rising due to Cyclone Gabrielle in Arkles Bay, Auckland, New Zealand February 13, 2023 in this screen grab obtained from a social media video. A New Zealand warship rescued a person from a yacht that turned on its emergency beacon this morning off the east coast. New Zealand declared national emergencies after an earthquake in 2011 and when the COVID-19 pandemic hit in 2020.

☆ Australia's Norfolk Island braces for Cyclone Gabrielle impact
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Feb 11 (Reuters) - Cyclone Gabrielle, headed for New Zealand, brought destructive winds to Australia's Norfolk Island on Saturday as it continued to track towards the tiny external territory in the Pacific Ocean. Gabrielle, a Category 2 tropical cyclone with winds of up 155 kilometres per hour (96 mph), was 325 km (miles) northwest of Norfolk Island, where conditions were deteriorating, Australia's weather bureau said early on Saturday. "The community are doing the right thing and we're in as good a place as we can be," Norfolk Island Administrator Eric Hutchinson told ABC television. The country's weather forecaster, MetService, said it expected Gabrielle to move towards New Zealand in coming days. Last month, Auckland and parts of the North Island were hit by record rainfall that sparked widespread floods and killed four people.

☆ This could be a 'banner year' for cruise stocks. Why Citi says it's time to reconsider the industry as a long-term trade
▼ + stars: | 2023-02-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

After a long port of call, it may be anchors aweigh time for investors in cruise stocks, according to Citigroup. Royal Caribbean is favored thanks to its solid track record of maintaining costs, and offers the best risk-reward opportunity within the group. So far this year, Royal Caribbean shares are off to a solid start, up more than 41% after tumbling about 36% in 2022. Citi reestablished a price target on RCL shares of $80, implying 19% upside from Wednesday's close. Hardiman retained a neutral but high risk rating on Carnival, lifting his price target to $13 from $9 a share.

☆ Watch out managers, the job cuts are coming for you next
▼ + stars: | 2023-02-02 | by ( Sarah Jackson | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Thousands of workers have already gotten pink slips this year, and it looks like managers will be next. Managers may be an easy target as companies correct course after overhiring during the past few years. For his part, Meta CEO Mark Zuckerberg is pushing back against the endless loop of "managers managing managers." But new workers need managers — and those managers then get their own managers, and so on, ad infinitum. One program manager who left Meta in September 2022 after 18 months told Insider he resigned because he was stifled by all the "managers managing managers."

☆ Premarket stocks: Is this the beginning of the end for Big Oil's windfall?
▼ + stars: | 2023-01-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Brutally high oil and gas prices were the talk of the town and one of the largest contributing factors to sky-high inflation. That was bad news for drivers, but ended up being great for the energy industry as oil prices and energy stocks are closely interlinked. As markets fell under the pressures of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed, the energy sector thrived. The S&P ended 2022 down nearly 20%, while the energy sector grew by about 60%. But analysts say US oil companies can’t keep winning for much longer.

☆ Brittney Griner's return could be the unlikely catalyst that forces the WNBA to relent on its most contentious policy
▼ + stars: | 2023-01-29 | by ( Meredith Cash | ) www.businessinsider.com time to read: +10 min

WNBA free agency is underway, with teams receiving the green light to recruit stars as of this weekend. Top free agent Breanna Stewart has reportedly made charter flights a key issue for teams wooing her. Private flights are not covered by the league's CBA, but Brittney Griner's return may force policy changes. The 2018 MVP took to Twitter to announce that she's prepared to help "subsidize charter travel for the entire WNBA" by offering her "NIL, posts + production hours." Several current WNBA players, including Nneka and Chiney Ogwumike, Elena Delle Donne, Napheesa Collier, Alysha Clark, Erica Wheeler, Kahleah Copper, and Natalie Achonwa, offered their support in the comments.

☆ You Call That Snow?! See How This Winter Stacks Up.
▼ + stars: | 2023-01-26 | by ( Francesca Paris | ) www.nytimes.com time to read: +7 min

If so, you’re not alone: It has been a dreary winter for children hoping for snow days and grown-up snow enthusiasts alike on the East Coast. More than 50 years of snowfall in … Interactive line chart showing cumulative snowfall for each winter season over 50 years, as well as the median snowfall for all seasons. Line chart showing Philadelphia’s cumulative snowfall for each winter season over 50 years. Loading dataLine chart showing Boston’s cumulative snowfall for each winter season over 50 years. Milwaukee Pittsburgh Providence, R.I. Pueblo, Colo. Richmond, Va. Rockford, Ill. St. Louis Topeka, Kan. About normal snow Anchorage Boise, Idaho Colorado Springs Columbia, Mo.

☆ Hawaii surf contest The Eddie returns with women competing alongside men for the first time
▼ + stars: | 2023-01-22 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

And this year female surfers will be competing alongside the men for the first time in the 39-year history of The Eddie Aikau Big Wave Invitational. But author Stuart Coleman says The Eddie is distinguished by how it honors Eddie Aikau, a legendary Native Hawaiian waterman, for his selflessness, courage and sacrifice. Coleman said The Eddie is about the best of big wave surfing and the best of Hawaiian culture. “To see women — not only women surfing Waimea but women and men sharing the same event together, with mutual respect and equality — I’m just really thrilled at the thought,” Pennybacker said. Kathleen Pahinui, the chairperson of the North Shore Neighborhood Board, said it will be good for businesses, restaurants and shops.

☆ Cowen downgrades Salesforce as company adjusts to a slower growth era
▼ + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The outlook looks foggy for Salesforce as the software giant adjusts to a new normal after years of record growth, according to Cowen. "With several recent exec departures & a major restructuring underway, we expect to see elevated levels of disruption risk," Wood wrote. The company also announced late last year the departure of co-CEO Bret Taylor and Slack founder and CEO Stewart Butterfield . Woods trimmed Cowen's price target on Salesforce to $160 from $175 a share, reflecting just 9% upside from Thursday's close. "After a long cycle of high growth through both organic & inorganic efforts, Salesforce has reached greater market penetration and is entering a more mature growth phase," Wood wrote.

[1/3] People walk along a rocky beach caused by high surf following winter storms in San Diego, California, U.S., January 17, 2023. The White House said Biden, who on Saturday authorized federal disaster assistance for three hard-hit counties in northern and central California, would be joined by Governor Gavin Newsom and other elected officials. Twisted wreckage of wooden piers torn up along the waterfronts at both locations vividly illustrated the storms' destructive force. The high winds wreaked havoc on the state's power grid, knocking out electricity to tens of thousands of Californians. Reporting by Jeff Mason in Washington; Additional reporting by Trevor Hunnicutt and Katherine Jackson in Washington; Writing by Steve Gorman in Los Angeles.

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