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Sales at The Gap have been steadily declining. The CEOs of Macy's, Sears, Kmart, Guess, Gymboree, Wet Seal, Radio Shack, American Apparel, Bon-Ton, Subway, Payless, Toys Я Us and Foot locker say, "Hey, join the crowd!"
The Gap picks a new CEO as it tries for a comeback
http://www.latimes.com/business/la-f...613-story.html
Welcome to today's episode of Cheaters Never Prosper:
Volkswagen fined $1.17 billion in Germany in emissions-tests cheating scandal
The auto maker says it will not appeal the penalty.
https://www.wsj.com/articles/volkswa...dal-1528914419
Fraudulent returns cost the retail industry as much as $17 billion annually. An Arizona man turned fraudulent returns into a full-time occupation. This Business Insider headline should be in the Guinness Book Of World Records -- it is probably the longest headline ever written:
A 23-year-old man has been arrested after being accused of making $1.3 million in fake returns at more than 1,000 Walmart locations and it represents a dangerous trend sweeping the industry
http://www.businessinsider.com/walma...-police-2018-7
Artificial intelligence software can now predict how long a patient may remain hospitalized, the odds of his having to be readmitted and the odds of him dying soon. Why does Google think suck software is necessary? And how many people would want to know such predictions? Technology is starting to get scary.
Google is training machines to predict when a patient will die
http://www.latimes.com/business/tech...618-story.html
Moxie is a carbonated beverage which was introduced in 1876 and was originally advertised as a nerve tonic. If you haven't tried it, don't -- it tastes like dirty motor oil. I wonder if Moxie will sue David Neeleman for naming his new airline "Moxy." An airplane could never be confused with a soda but Moxie might decide to sue anyway.
Jet Blue founder David Neeleman preparing to launch a new low-cost airline, Moxy
https://www.msn.com/en-us/money/comp...D=ansmsnnews11
The General Electric Company was founded in 1892 in Schenectady. In 1896, Charles Dow began calculating the Dow Jones Industrial Average. In 2018, the only one of the 12 original companies still in the index is General Electric -- and the General will soon be demoted. On June 26, Walgreen's will replace GE in the Dow.
GE booted from blue-chip Dow Jones index
https://www.cbsnews.com/news/ge-boot...w-jones-index/
Closing 150 stores. Wow. This means that many cities will be left with only 54 Starbucks instead of 55.
Starbucks to close 150 underperforming US locations in fiscal 2019
https://www.upi.com/Top_News/US/2018...6371529442341/
It was like a poker game. Disney bet $52.4 billion. Comcast said, "We'll see you and we'll raise the bet to $65 billion." Disney responded, "We'll see you and raise the bet to $71.3 billion." Comcast folded and Disney won the game.
Disney buys 21st Century Fox for $71.3 billion
http://theweek.com/speedreads/780191...ox-713-billion
As I said a few days ago, pretty soon everyone will be watching television on every kind of device except a television.
AT&T launches WatchTV, a low-cost live TV streaming service
https://techcrunch.com/2018/06/21/at...rvice-watchtv/
Instagram announces IGTV, a standalone app for longer videos
https://www.msn.com/en-us/news/techn...D=ansmsnnews11
Insert bad "Now he'll have a chip on his shoulder" joke here.
Intel CEO Brian Krzanich forced out after 'consensual relationship' with employee
https://www.cnbc.com/2018/06/21/inte...terim-ceo.html
The Supreme Court ruled in 1992 that no state can require an online seller to collect sales tax unless the seller has a "physical presence," such as a store or factory, in the state. Today the Supreme Court, by a 5-4 vote, reversed that decision. (Trump appointee Neil Gorsuch was one of the five who voted in favor of the taxes.) We will soon be paying taxes on everything we buy online. George Harrison's 1966 song Taxman is proving to be prophetic: Everything that can be taxed will be taxed.
States stand to pocket billions as Supreme Court rules internet businesses must collect sales taxes
http://www.latimes.com/politics/la-n...621-story.html
Under the new five-year contract, drivers who now make $19 an hour will get $34.79 an hour in 2022. Translation: Expect a huge increase in UPS shipping rates.
UPS strikes deal with Teamsters, averting national strike
https://www.cbsnews.com/news/ups-dea...tional-strike/
The engines will be made in the US, the SUVs will be made in Mexico, and President Trump will be made furious in Washington, DC.
General Motors is bringing back the Chevy Blazer -- and it will be made in Mexico
https://www.cbsnews.com/news/chevy-b...ade-in-mexico/
CEO Reed Hastings says Friedland used "the N-word on at least two occasions." The N-word? My dictionary has hundreds of words starting with the letter N. But I guess we all know what word he's referring to.
Netflix chief communications officer Jonathan Friedland fired for insensitive remarks
https://variety.com/2018/digital/new...ut-1202855305/
The Chinese smartphone manufacturer was illegally sharing US technology with Iran and North Korea. In April 2018, the Department of Commerce banned US companies from exporting parts and components to ZTE. Trump wants the ban reversed. Let's see how loudly that billion-dollar payment speaks.
ZTE pays $1 billion fine to US government for sanctions violations
https://www.msn.com/en-us/news/world...ent/ar-AAz234t
In the past few years, Facebook, Twitter, Google and other sites have had to deal with major problems caused by hacks, privacy issues, data leaks, data thefts and data sharing. What has Cisco learned from all this? Obviously, nothing.
Cisco is buying July Systems, a startup that uses WiFi to gather data from people as they move around malls, airports and stadiums
http://www.businessinsider.com/cisco...sequoia-2018-6
"Well, well, I must say you're the first giraffe we've ever seen here at the unemployment office."
All remaining Toys Я Us locations to close by Friday, June 29
http://www.azfamily.com/story/385014...o-close-friday
Trump's arbitrary punitive tariffs have ignited trade wars with China, Canada and Mexico. His steel and aluminum tariffs are hurting Harley-Davidson and the US automobile industry. His tariffs on Chinese-made solar panels have led to the loss of thousands of jobs among US solar-panel businesses. But wait -- there's more!
Largest US nail manufacturer 'on the brink of extinction' due to Trump's steel tariffs
http://money.cnn.com/2018/06/26/news...ses/index.html
Walgreens, CVS and Rite Aid lost a combined $12 billion in value in the hours following the announcement of Amazon's latest acquisition. As I write this, CVS is down 6.53%, Walgreens is down 9.62% and Rite Aid is down 10.15%.
Amazon buys online pharmacy PillPack
http://money.cnn.com/2018/06/28/news...ore/index.html
For a minimum $10,000 investment, you can get a nice truck with the Amazon logo and your very own Amazon uniform to wear. Ooo-wee! You can apply at https://logistics.amazon.com/?tag=bisafetynet2-20
Amazon seeking new package-delivery couriers
Business Insider, Jun 28 2018
Amazon is trying to expand its network of package-delivery couriers by offering several incentives, including discounts on vehicles and fuel, to new business owners who want Prime delivery jobs. Delivery partners who are accepted into Amazon's program could earn about $300,000 in annual profits operating a fleet of up to 40 delivery vehicles, the company said.
http://www.businessinsider.com/amazo...ery-job-2018-6