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When a manufacturer or the National Highway Traffic Safety Administration determines that a vehicle, tire, battery, airbag, child seat or other equipment poses a safety risk or fails to meet minimum safety standards, the vehicles will be recalled and repaired at no cost to the owner. But "dissatisfaction" and "discouragement"? This has to be the most unusual recall in automotive history. Shares of Ford closed today at 12.00, a drop of 0.59 (4.65%).
The Ford Bronco is being recalled because people may get 'discouraged' trying to use the seat belts
https://www.cnn.com/2023/05/31/busin...all/index.html
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"Alexa, where can we come up with a quick thirty million dollars?"
Amazon to pay $30 million over Alexa and Ring privacy violations
https://www.bbc.com/news/technology-65772154
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J.L. Turner and his son Cal owned several department stores in Kentucky and Tennessee in the 1950s. In 1955, they converted one of the stores into the first Dollar General, with every item selling for a dollar or less. Dollar General Corporation went public in 1968 and now owns more than 18,700 stores. Shares of Dollar General closed today at 161.86, a drop of 39.23 (19.51%).
Dollar General sinks 19% on a slashed profit outlook as company says its budget-sensitive customers are relying more on food banks and credit cards
https://markets.businessinsider.com/...-income-2023-6
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According to the National Retail Federation, professional gangs of shoplifters like to steal designer clothing, designer handbags, allergy medicine, razors, liquor, pain relievers, baby formula, laptops, deodorant, laundry detergent and small appliances because they can easily resell these items in large quantities. Three-fourths of retailers have policies forbidding employees from confronting shoplifters. Two Lululemon employees in Georgia were recently fired for violating this policy. They were not even given severance pay.
One person wrote on Twitter, "Lululemon has a policy of NOT pursuing shoplifters in their stores. So, they just announced that their clothes are now free? Well, don't ever pay for Lululemon again. They're having a 100%-off sale all day, every day. NICE!"
Why Lululemon will fire employees if they try to stop thieves
https://www.businessinsider.com/why-...p-theft-2023-6
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Apple CEO Tim Cook calls Vision Pro a "mixed-reality headset." Um, okay. Shares of Apple closed today at 179.58, a drop of 1.37 (0.76%).
Apple just revealed its first major product in more than 8 years — meet the $3,499 'Vision Pro'
https://www.businessinsider.com/appl...se-date-2023-6
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TechCrunch editor-in-chief Michael Panzarino has tried every virtual reality headset and augmented reality device beginning with the Oculus DK1 in 2013. He says Apple's Vision Pro has "very good" hardware, better optics and a "comfortable" headband. Yeah, but there's still that $3,500 price tag. A cheaper version is being developed. Shares of Apple closed today at 183.79, a gain of 2.83 (1.56%).
Apple is reportedly working on a cheaper version of its $3,500 Vision Pro – but it's 2 years away
https://www.businessinsider.com/less...-report-2023-6
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Inflation slowed in May for the 11th consecutive month. Consumer prices rose only 0.1% following a 0.4% increase in April. Overall, consumer prices increased 4% from a year earlier, down from 4.9% in April and a 40-year high of 9.1% in June 2022.
Inflation dropped significantly in May, returning closer to normal levels
https://abcnews.go.com/Business/infl...y?id=100009526
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Live Nation Entertainment, the parent company of Ticketmaster, was criticized by the White House and Congress in January for the exorbitant hidden fees added to the cost of tickets for Taylor Swift's tour. Under pressure from President Biden, Live Nation will now offer "upfront, all-in pricing." No more hidden fees – ticket buyers will know the full cost before they make a purchase. Shares of Live Nation closed today at 90.34, a gain of 3.26 (3.74%).
Live Nation's hidden ticket fees will no longer be hidden, event company says
https://www.cbsnews.com/news/ticketm...parency-biden/
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3M agreed in December 2022 to stop making PFAS. This $10.3 billion settlement will be spread out over 13 years and will fund detection of PFAS and efforts to remove them from public water supplies. It will also settle lawsuits filed by around 300 cities. Shares of 3M closed today at 100.43, a drop of 1.04 (1.02%).
3M reaches $10.3 billion settlement over contamination of water systems with 'forever chemicals'
The Associated Press, Jun 22 2023
Chemical manufacturer 3M Company will pay at least $10.3 billion to settle lawsuits over contamination of many U.S. public drinking water systems with potentially harmful compounds used in firefighting foam and a host of consumer product. The deal would compensate water providers for pollution with per- and polyfluorinated substances, known collectively as PFAS, a broad class of chemicals used in nonstick, water- and grease-resistant products such as clothing and cookware.
Described as "forever chemicals" because they don’t degrade naturally in the environment, PFAS have been linked to a variety of health problems, including liver and immune-system damage and some cancers. The compounds have been detected at varying levels in drinking water around the nation.
https://www.msn.com/en-us/health/hea...ls/ar-AA1cUHdX
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DoorDash was founded in 2013 in Palo Alto, California and is the largest online food ordering and food delivery service in the United States. Its 13,000,000 gig workers, known as "Dashers," are paid per delivery – but they now have a new option. Shares of DoorDash closed today at 76.49, a gain of 1.73 (2.31%).
DoorDash will give drivers the option to earn a minimum hourly wage
https://www.cbsnews.com/news/door-da...y-wage-option/
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Dollar Tree. Dollar King. Dollar General. Family Dollar. Those names are no longer to be taken literally. Shares of Dollar Tree closed today at 143.61, a drop of 2.05 (1.41%).
Dollar Tree plans to raise prices up to $5 proving there's no such thing as a 'dollar store' anymore
https://www.msn.com/en-us/money/comp...re/ar-AA1ddUvj
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On June 16, the Teamsters union – which represents more than 340,000 United Parcel Service workers – voted to authorize a nationwide strike if a new contract could not be reached. Such a strike would be the largest in United States history. On June 29, Teamsters president Sean O'Brien said a strike is "imminent." Today it is no longer imminent. Shares of UPS have fallen by 2.91% over the past year and are now at $179.25.
UPS agrees to ax two-tier wage system in win for Teamsters
https://news.bloomberglaw.com/daily-...-for-teamsters
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Christmas Tree Shops sold bedding, furniture, rugs, carpets, toys, tools, artwork, office supplies. cleaning supplies, party supplies, pet supplies and many other products – but did not sell Christmas trees. Go figure!
Christmas Tree Shops closing all 73 stores across 20 states after worsening finances
https://www.usatoday.com/story/money...s/70384180007/
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Twitter lawyer Alex Spiro is threatening to sue Meta CEO Mark Zuckerberg over concerns that Meta has hired "dozens of former Twitter employees" and "has engaged in systematic, willful and unlawful misappropriation of Twitter’s trade secrets and intellectual property." Shares of Meta Platforms – formerly Facebook – closed today at 291.99, a drop of 2.38 (0.81%).
Meta officially launches Twitter rival Threads. 30 million have joined already.
https://www.cnn.com/2023/07/05/tech/...ram/index.html
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Statista, a Hamburg-based data gathering site, says Facebook launched in 2004 and took ten months to reach one million registered users. Twitter launched in 2006 and took two years to reach one million registered users. Meta Platforms launched Threads on July 5, 2023 and the messaging app had two million users after just two hours, 30 million users after 18 hours and 70 million users after 40 hours. Shares of Meta closed today at 290.53, a drop of 1.46 (0.50%).
Threads app reached 78 million users as Twitter threatens lawsuit
https://www.searchenginejournal.com/...am-app/490812/
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Twitter now has 353.9 million users, a 3.93% decrease since 2022. Threads is likely to surpass that number in a few weeks.
Threads now fastest-growing app in history – with 100 million users in just five days
https://www.forbes.com/sites/siladit...pp-in-history/
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The Stargazer jet will fly at nine times the speed of sound. This reminds me of a New Yorker cartoon showing two women boarding a plane. "Please don't fly faster than the speed of sound," one of them tells the pilot. "We want to talk."
A US startup wants to use a new kind of plane engine to propel a jet carrying 12 passengers from Los Angeles to Tokyo in an hour
https://www.businessinsider.com/venu...ne-hour-2023-7
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June was the 12th consecutive month that the annual rate of inflation has declined. Gasoline prices rose 1% in June but are 27% lower than a year ago. Grocery prices have risen 4.7% over the past year.
Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases
https://www.cnbc.com/2023/07/12/infl...increases.html
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Elon Musk, 52, now oversees six companies: Tesla, Twitter, Neuralink, SpaceX, the Boring Company – couldn't he have come up with a better name? – and xAI.
Elon Musk launches new company xAI, which proclaims a lofty mission to 'understand the true nature of the universe'
https://www.businessinsider.com/elon...website-2023-7
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Who decided this would be a good idea? It isn't. Shares of Hyundai are now at $43.50.
Hyundai put speakers in its new electric car so you can blast fake engine noises around your neighborhood
https://www.businessinsider.com/hyun...e-noise-2023-7
