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  1. #1
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    Business news 2019

    It's a new year and here is a new thread. This thread will feature the biggest business news stories of 2019. We can start a thread for 2020 business news in 2020 -- and a thread for 2021 business news in 2021 -- and.......well, you get the idea. Unfortunately, the first two big stories of 2019 are bad news.

    Apple's surprise revenue shortfall is dragging down the rest of the tech industry
    Business Insider, Jan 2 2019

    Apple said today that its holiday quarter revenue would be 7% lower than expected due to weakening iPhone sales, primarily in China. Since the announcement, Apple's stock has dropped more than 7% in after-hours trading. The news of Apple missing its mark appears to be impacting other tech stocks, with Amazon, Intel, Alphabet, Qualcomm and others all taking hits in after-hours trading.

    https://www.businessinsider.com/tech...ay-mark-2019-1

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    In 1901, Carl Wallin and Swedish immigrant Johan Nordström opened a shoe store in Seattle. Cleverly known as Wallin & Nordstrom, the store was successful enough that other locations were opened. In the 1960s-70s, Nordstrom began selling clothing, handbags, accessories and cosmetics in addition to shoes and today there are 380 Nordstrom stores in the United States and Canada. Blake Nordstrom and his two brothers are the great-grandsons of the company's co-founder.

    Blake Nordstrom, co-president of Nordstrom, dies at age 58 after fight with cancer
    Blake's brothers, Pete and Erik Nordstrom, will continue as co-presidents of the company.

    https://www.cnbc.com/2019/01/02/blak...at-age-58.html

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    I wonder if Amazon-owned gas stations would get a lot of business. Many people no longer drive anywhere to go shopping. They stay home and order books, movies, music, clothing, electronics and groceries online.......from Amazon.

    DA Davidson analyst says Amazon should open gas stations

    https://www.detroitnews.com/story/bu...ions/38833149/

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    Last year, President Trump accused American pharmaceutical companies of "getting away with murder." He vowed to lower drug prices. He couldn't -- and he didn't:

    Big Pharma ushers in new year by raising prices of more than 1,000 drugs

    https://www.cbsnews.com/news/drug-pr...ger-ingelheim/

    And here is how one company is spending some of its many billions of dollars:

    Bristol-Myers Squibb will buy mega-biotech Celgene for $74 billion in cash and stock

    https://www.forbes.com/sites/ellieki.../#3ed977e434eb

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    In 1967, Kelleher and business consultant Rollin King founded Air Southwest in Dallas. It was renamed Southwest Airlines in 1971. Kelleher thought Southwest would not be subject to federal regulations if all its flights were within Texas. In 1979, Southwest finally began offering service to other states and today carries more domestic passengers than any other US Airline. And, unlike other airlines, the company does not charge any extra or "hidden" fees. Since October 2015, their slogan has been "Low fares. Nothing to hide. That's TransFarency." If I ever make a list of the all-time worst business slogans, that will probably be in the top ten, along with Allstate's "We know a thing or two because we've seen a thing or two." You know as many as two things? Wooh!

    Herb Kelleher, Southwest Airlines founder, dies at 87

    https://www.cnn.com/2019/01/03/busin...bit/index.html

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    Because so many Americans are canceling their TV subscriptions, TV providers are offsetting the revenue loss by raising their rates. Higher rates mean more subscribers will cancel. Then rates will go up again -- and more subscribers will cancel -- and.......well, this could go on for many years.

    Comcast, Dish, DirecTV to raise TV prices to counter cord cutting

    https://www.msn.com/en-us/money/comp...O594?ocid=AMZN

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