-
In 2006, the Republican-led Congress passed the Postal Accountability & Enhancement Act, which required the Postal Service to set aside as much as $6.6 billion a year to pre-fund retiree health benefits for 50 or more years in advance. No other agency ever had such a burdensome requirement – and 2006 was the last year the Postal Service showed a profit. That mandate is now abolished.
Senate passes bill overhauling the US Postal Service
CNN, Mar 8 2022 10:20 PM ET
The Senate today passed sweeping bipartisan legislation to overhaul the US Postal Service's finances and allow the agency to modernize its operations. The final vote was 79-19. The bill now heads to President Joe Biden's desk for his signature. The Postal Service Reform Act – which cleared the House last month by 342-92 would require retired postal employees to enroll in Medicare when eligible, while dropping a previous mandate that forced the agency to cover its health care costs years in advance. Those two measures would save the USPS nearly $50 billion over the next decade, according to the House Oversight Committee. The legislation will also require the USPS to create an online dashboard with local and national delivery time data.
https://www.cnn.com/2022/03/08/polit...ill/index.html
-
Following Amazon's announcent of a 20-for-1 stock split, shares of Amazon closed today at 2,936.35, a gain of 150.77 (5.41%). The split will make Amazon stock more affordable for the average investor. On May 15, 1997, when Amazon first sold shares to the public, a share cost $18.
Amazon stock has its second-best day of 2022 on planned 20-for-1 split
https://www.cnbc.com/2022/03/10/amaz...r-1-split.html
-
Looking to expand its global technology business, Walmart will hire more than 5,000 software developers, software engineers, data scientists, product managers, technical program managers and cybersecurity experts. Shares of Walmart closed today at 145.78, a gain of 1.73 (1.2%).
Walmart to hire more than 5,000 workers, add two new hubs
https://www.reuters.com/business/ret...bs-2022-03-15/
-
Starbucks plans to give customers "easy access" to reusable cups. Does that mean the cups will be free of charge? I'm guessing no.
Starbucks plans to phase out paper cups in the US and Canada
https://www.npr.org/2022/03/16/10868...u-s-and-canada
-
Gasoline prices hit a record high last week. Inflation is at a 40-year high. And, as the expression goes, things will get worse before they get better.
Sky-high shipping costs could keep prices surging until mid-2023
https://www.businessinsider.com/ship...-crisis-2022-3
-
In his 1821 essay In Defence Of Poetry (published posthumously in 1840), poet Percy Bysshe Shelley wrote, "The rich get richer and the poor get poorer." That is still true.
Wall Street bonuses jumped 20% last year, more than triple the average worker's raise
https://www.businessinsider.com/wall...creased-2022-3
-
"Some"? Why not all?
Walmart will stop selling cigarettes in some stores
https://www.cnn.com/2022/03/28/busin...ail/index.html
-
The Forum, an indoor arena in Inglewood, California, opened in December 1967. It was home to the Lakers and the Los Angeles Kings from 1967 to 1999 and the Los Angeles Sparks from 1997 to 2001. The Forum will host the gymnastics events for the 2028 Summer Olympics. South Korean automobile manufacturer Kia has purchased the naming rights from Forum owner (and Clippers owner) Steve Ballmer.
The Forum has a new name
https://www.latimes.com/business/sto...ng-rights-deal
-
On average, Alaska Airlines pilots make $341,000 a year. They want more.
Alaska Airlines cancels dozens of flights as pilots picket
https://www.cnn.com/2022/04/02/busin...ons/index.html
-
More and more people are shopping online – and fewer and fewer people are shopping in malls. Paris-based Unibail-Rodamco-Westfield owns and/or manages 70 malls in Europe and the UK and 24 in the United States. All the US locations are being put up for sale.
Westfield malls go up for sale as US shoppers find other places to buy
https://www.latimes.com/business/sto...-places-to-buy
-
In 1985, Cable Educational Network Inc in New York City launched The Discovery Channel. The company became Discovery Communications in 1994 and two years later launched Discovery Kids, Animal Planet and The Science Channel. In 2018, the company became Discovery Inc and acquired Scripps Network (HGTV, Food Network, DIY Network). As of today, Discovery also owns HBO, CNN, TNT, Turner Sports and the Warner Brothers movie studio. Warner Brothers Discovery Inc will start trading on the NASDAQ April 11 under the ticker symbol WBD.
Discovery takes control of HBO, CNN and Warner Bros., creating new media giant
https://www.cnn.com/2022/04/08/media...ose/index.html
-
Netflix began renting DVDs in 2007, launched a streaming service in 2007 and began producing its own programming in 2013. Netflix today announced a loss of 200,000 subscribers In the first quarter of 2022, the company's first loss since 2011. Shares of Netflix closed today at 348.61, a gain of 10.75 (3.18%), but fell by 25% in after-hours trading.
Netflix stock plunges after subscriber losses
https://www.cnn.com/2022/04/19/media...ngs/index.html
-
As CNN put it, "Netflix's terrible 2022 has now become disastrous." Shares of Netflix closed today at 226.19, a drop of 122.42 (35.12%).
Netflix plans crackdown on password sharing after loss of 200,000 subscribers
https://movieweb.com/netflix-plans-c...s-subscribers/
-
CNN+ will shut down after only 39 days of operation. Andrew Morse, executive vice president of CNN and general manager of CNN+, will exit the company.
CNN+ will shut down at the end of April.
https://www.cnn.com/2022/04/21/media...own/index.html
-
The old expression is true: "Money talks."
Elon Musk to buy Twitter in $44 billion deal
https://www.cnn.com/2022/04/25/tech/...ent/index.html
-
In the United States, hourly pay for airline flight attendants begins only after all the passengers are seated and the plane's doors are closed. Delta Air Lines is changing that policy. By the way, Delta is the United States' oldest airline still in operation. It was founded in 1925 as a crop-dusting business and began accepting passengers in 1929.
Delta to begin paying flight attendants during Boarding
https://www.aol.com/finance/delta-be...132908373.html
-
Shares of Amazon closed today at 2,891.93, a gain of 128.59 (4.65%), but fell in after-hours trading to 2,611.51, a drop of 280.42 (9.70%).
Amazon stock plunges as company reports nearly $4 billion loss
https://www.cnn.com/2022/04/28/tech/...oss/index.html
Amazon takes $7.6 billion loss on Rivian stake after EV company’s stock plunged
https://www.cnbc.com/2022/04/28/amaz...ck-plunge.html
-
The world's richest person is considering imposing a fee on certain Twitter users.
Elon Musk says businesses and governments may have to pay to use Twitter
https://www.cnbc.com/2022/05/04/elon...vernments.html
-
Apple introduced the iPod on October 23, 2001. It had a 5 GB hard drive and, as CEO Steve Jobs declared, "puts 1,000 songs in your pocket." The most recent model, the 7th-generation iPod Touch, was introduced in 2019 and has a 256 GB hard drive. Shares of Apple closed today at 154.51, a gain of 2.45 (1.61%).
Apple is discontinuing its last iPod model
https://www.cnn.com/2022/05/10/tech/...era/index.html
-
On January 31, 1990, McDonald's opened its first restaurant in Russia, in Pushkin Square in central Moscow. It was the world's largest McDonald's at that time. There are now 850 McDonald's in Russia – but not for much longer.
After 32 years, McDonald’s plans to sell its Russia business
https://www.nytimes.com/2022/05/16/b...ds-russia.html
