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Two weeks ago, Amazon canceled plans to build a new headquarters in Queens after dozens of politicians, labor leaders and activists complained that Amazon does not deserve the $2.5 billion in tax breaks and incentives that were promised. What a difference two weeks has made. They decided the creation of 40,000 jobs and all that tax revenue was enough to make Amazon welcome in Queens after all -- but I doubt Bezos will reconsider. My advice to New Yorkers: Fuhgeddaboutit!
New York Governor Andrew Cuomo speaks with Jeff Bezos, furiously trying to win back Amazon
https://www.msn.com/en-us/money/comp...zon/ar-BBUdIWz
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Lyft lost $911,300,000 in 2018. Lyft has lost $2,282,400,000 in the past three years. And Lyft hopes to raise as much as $100,000,000 from its IPO. Ummm.......that number might be just a bit optimistic, don'tcha think?
Lyft files for IPO, beating Uber to the punch
https://www.cnn.com/2019/03/01/tech/lyft-ipo/index.html
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Remember when Trump promised his huge tax cuts would be like "rocket fuel" in boosting our nation's economy? That didn't happen. The federal deficit rose to $779 billion in fiscal 2018, an increase of 17% over the previous year, and is projected to reach $1.1 trillion in fiscal year 2019. Meanwhile, tens of thousands of Americans have lost their jobs and tens of thousands more will lose their jobs this year -- and we can't blame it all on Amazon.
The Gap, Victoria's Secret and even Tesla: 4,300 store closures already announced this year
https://www.msn.com/en-us/money/comp...ear/ar-BBUfuPC
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The Coca-Cola Company owns 50% of San Diego-based Suja Life, which makes 95 different organic juices and kombuchas. Among the ingredients: beets, cucumbers, kale, chard, celery, ginger, lemongrass, collard greens, turmeric, flax seed and sunflower seed butter. I guess the juices appeal to humans who are herbivorous.
Does Coca-Cola have a billion-dollar brand in cold-pressed juice favorite Suja Life?
https://www.forbes.com/sites/chloeso...ite-suja-life/
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Oh, poor baby! But don't feel sorry for him -- he's still worth $62.3 billion. Forbes just released its annual list of the world's wealthiest people. Twenty-one-year-old Kylie Jenner is now a billionaire. Ain't that sweet?
Mark Zuckerberg's net worth fell by $9 billion last year
https://www.cnn.com/2019/03/05/tech/...ist/index.html
Billionaires: The richest people in the world
https://www.forbes.com/billionaires/#7957b51f251c
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A record number of retail stores went out of business in 2017. That record will likely be broken in 2019.
Family Dollar to shut down hundreds of stores
https://www.middletownpress.com/busi...s-13668312.php
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IBM will "create an immutable audit trail, which can be used to create new business models and transform existing business processes for credit unions." Ummm.....okay, whatever that means..
IBM cuts credit unions deal for blockchain services in $1.7 trillion industry
https://www.forbes.com/sites/rogerai...lion-industry/
Anyone unfamiliar with blockchain technology can learn about it at a site with the lovely name Blockgeeks:
https://blockgeeks.com/guides/what-i...in-technology/
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When Disney announced plans to buy Fox, the White House said the deal would be good for workers. Uh-huh. Analysts now expect around 5,000 Disney-Fox employees will lose their jobs.
Disney says its Fox takeover will take effect on March 20
https://www.cnn.com/2019/03/12/media...eal/index.html
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We know formaldehyde is used as a body preservative in funeral homes. I was surprised to discover that formaldehyde is also used in the manufacture of plywood, particle board, glue, fabric, axles, brake shoes, automobile transmissions and other products. The American Cancer Society explains its use and its dangers at https://www.cancer.org/cancer/cancer...maldehyde.html -- dangers which Lumber Liquidators tried to ignore.
Lumber Liquidators to pay $33 million for misleading investors about formaldehyde in laminate flooring
https://www.latimes.com/business/la-...312-story.html
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Eliminating 400 jobs is "cleaning house"? I bet the 400 corporate employees losing their jobs would have a different name for it. Rite Aid stock closed today at 72¢, a gain of 4¢. Wooh!
Rite Aid's CEO is out as company cleans house
https://www.cnn.com/2019/03/13/busin...ceo/index.html
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Another CEO has lost his job -- and in this case we can quote a Warner Bros. cartoon character: "Th-th-that's all, folks!"
Kevin Tsujihara out as Warner Bros. chief amid sexual impropriety scandal
https://variety.com/2019/biz/news/ke...ty-1203165653/
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As many as 50,000,000 songs uploaded to Myspace have apparently been lost. The "space" in Myspace is now a whole lot bigger!
Myspace apologizes after losing 12 years' worth of music
https://www-m.cnn.com/2019/03/18/us/...cli/index.html
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Of course, because young people don't have nearly enough ways to waste thousands of hours online.
Google announces its plan to upend the $140 billion video game industry
The company showed off a new streaming service called Stadia that allows people to play high-end games without purchasing expensive consoles or computers.
https://www.nbcnews.com/tech/video-g...dustry-n984991
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It's official now. The new Fox Corporation (symbol: FOXA) retains its television network and its national sports, news and business channels. Disney now owns almost all other Fox assets but still has to divest itself of the 22 regional Fox Sports channels because the company already owns ESPN. Disney is hopeful of getting as much as $20 billion from a sale. Disney may wind up hoping for a long time.
Disney closes $71 billion deal with Fox
https://www.cnn.com/2019/03/19/media...ger/index.html
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McDonald's will no longer spend millions of dollars on lobbyists who fight proposals that McDonald's give their employees a 25¢-an-hour raise. Okay, maybe that statement is an exaggeration -- but not by much.
McDonald's will no longer lobby against minimum wage hikes
https://www.cnn.com/2019/03/27/busin...age/index.html
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Elizabeth Warren, who had been calling for Sloan's resignation, tweeted: "About damn time. He enabled Wells Fargo's massive fake accounts scam, got rich off it & then helped cover it up." Hey, Elizabeth, tell us how you really feel.
Wells Fargo CEO Tim Sloan steps down suddenly
https://www.cnn.com/2019/03/28/inves...oan/index.html
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Twitter does not allow threats, bullying and hate speech -- but what can they do when the threats, bullying and hate speech come from the President of the United States? I would remove all his offensive tweets but Twitter is unwilling to do that. Instead.....
Twitter is considering labeling Trump's tweets that violate its rules
https://www.cnn.com/2019/03/28/tech/...bel/index.html
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Perhaps people who are willing to pay huge sums of money for plain ol' water in plastic bottles deserve to be swindled. Or am I being too harsh?
Poland Spring accused of defrauding consumers by peddling water from 'phony' springs
A class-action suit contends the company's spring in Poland, Maine, ran dry nearly 50 years ago.
https://www.nbcnews.com/news/us-news...prings-n989086
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iHeartMedia will make an IPO of new Class A and Class B stock after it exits from Chapter 11 bankruptcy. The company will use proceeds from the stock sale to pay down its debt, which will be $5.6 billion. They did not say how many shares would be offered or what the price will be. Here is the prospectus filed today with the SEC:
https://iheartcontent.s3.amazonaws.c...9-12819862.pdf
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UberCab's ridesharing services and mobile app officially launched in 2011 in San Francisco. The company shortened its name to Uber after the city's taxicab drivers started complaining. Uber is hoping for as much as a $100 billion valuation. Really? In the past five years, the company lost more than $8 billion. Good luck with that valuation!
Uber plans to sell around $10 billion worth of stock in IPO, seeks valuation of $90-100 billion
https://www.usnews.com/news/top-news...in-ipo-sources
