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Business news 2021
As 2020 dawned, business experts were predicting more concept stores, more pop-up stores, more "cord cutting," voice assistants in automobiles, huge growth in quantum computing and artificial intelligence and an increase in sales of secondhand goods and clothing. Nobody could have predicted a coronavirus that would infect more than 83,000,000 people and cause more than 1,825,000 deaths by year's end. The year 2021 has to be better than 2020......doesn't it?
8 expert predictions on how and when business will return to normal in 2021
Sean Ludwig, US Chamber of Commerce, Dec 16 2020
For many business owners, 2020 presented unprecedented challenges as the COVID-19 pandemic forced companies to adapt to a "new normal." As businesses look toward 2021, some wonder if the new year will bring back "business as usual" or if we will move in a new direction.Here are eight predictions from business experts on what could come to pass in 2021.
Remote work will persist through 2021 and beyond. Salaries could be adjusted for remote workers. Some employers might require vaccination to come back in person. Companies will reduce the number of virtual activities and meetings. Employees expect more diversity and company culture. Business travel will be significantly reduced. Economic growth could return to pre-pandemic levels by the end of 2021.Retraining and reskilling workers will be a 2021 priority
https://www.uschamber.com/co/start/s...ss-predictions
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Yes sir, in the midst of a pandemic that has caused the death of more than 355,000 Americans, these drug manufacturers are all heart.
Drugmakers raise prices 3.3% in the new year
About 70 companies raised prices, albeit at a lower rate than in recent years.
https://www.wsj.com/articles/drugmak...ar-11609521644
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The new union will "promote workplace equity and ethical business practices." Yeah, good luck with that.
Google employees form labor union in United States and Canada
https://www.reuters.com/article/us-a...-idUSKBN29918A
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Five months ago, Cook's net worth surpassed one billion dollars. He has a long way to go to catch up to Amazon CEO Jeff Bezos, though. Bezos' net worth increased by $70 billion in 2020 and is now $186 billion. "The rich get richer."
Apple CEO Tim Cook's pay soared nearly 30% last year to almost $15 million as the iPhone maker thrived amid the pandemic
https://www.businessinsider.com/appl...on-2020-2021-1
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Reuters reporter Bhargav Acharya says Parler "is favored by many supporters of President Donald Trump, who was permanently suspended from Twitter on Friday, and it is seen as a haven for people expelled from Twitter." Lovely.
Amazon, Apple, Google ban Parler app over violent content around Capitol attack
Parler was used at least in part to plan the Capitol Hill attack, pushing tech companies to reckon with the part they played in the riot.
https://www.cnet.com/news/amazon-app...apitol-attack/
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Before creating the MyPillow pillow in 2004, Mike Lindell was addicted to cocaine, crack cocaine and alcohol. They obviously caused permanent brain damage. How else to explain Lindell's continued support for Donald Trump and his acceptance of Trump's lies and conspiracy theories?
Bed Bath & Beyond stops selling MyPillow after CEO's Capitol siege comments
CNN, Jan 19 2021 4:00 PM ET
Bed Bath & Beyond has stopped selling MyPillow products following CEO Mike Lindell's support of the January 6 insurrection and his continued false statements questioning the validity of the US Presidential election. Wayfair, Kohl's and HEB also stopped selling MyPillow products. Lindell, a major Republican donor, said in an interview with a right-wing broadcaster that the retailers are "scared" and blamed "leftist groups" for pressuring retailers into dropping his product.
Despite the violence at the Capitol two weeks ago, Lindell has held firm with his support of President Donald Trump. He called the attack "very peaceful" and blamed "undercover antifa dressed as Trump people" for the chaos. "Donald Trump will be our President for the next four years," he said earlier this month. Lindell also has presented other false conspiracy theories echoed by Trump since the election.
https://www.cnn.com/2021/01/19/busin...les/index.html
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US stocks hit a record high today. In Japan, the Nikkei 225 is at a record high. Markets in China, Australia and Hong Kong also posted big gains.
Wall Street closes at record highs as Netflix jumps, Biden inaugurated
Reuters, Jan 20 2021
US stocks closed at record highs today as Joe Biden was sworn in as the 46th President, while solid results from Netflix sparked a rally in shares of “stay-at-home” beneficiaries. Shares of the world’s largest streaming service Netflix surged 16.85% after the company said it would no longer need to borrow billions of dollars to finance its TV shows and movies.
https://www.reuters.com/article/us-u...-idUSKBN29P1GS
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Charles Lazarus opened the first Toys Я Us store in 1957 in Rockville, Maryland. The Я was backwards to look as if a child had written it. The chain filed for bankruptcy in 2017 and closed all its stores in the United States and Great Britain in 2018. The company emerged from bankruptcy in 2019 and opened two new stores in the United States – and those stores are now out of business. Blame the coronavirus.
Toys Я Us has closed all its stores – again
https://www.cnn.com/2021/01/31/busin...res/index.html
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Bezos will bcome an "executive chair." Isn't that a piece of furniture?
Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3
https://www.cnbc.com/2021/02/02/jeff...ver-in-q3.html
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Lawsy me, Aunt Jemima, why, she be sho' nuff gone for good. Quaker Oats is resurrecting the name of the company that created Aunt Jemima Pancake Mix in 1888 and named the product after the minstrel show song Old Aunt Jemimah.
PepsiCo renames Aunt Jemima pancakes, syrup as Pearl Milling Company
https://www.reuters.com/article/us-p...-idUSKBN2AA04H
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Trump opened the Trump Plaza hotel-casino in 1984 but lost it in a 2009 bankruptcy. Trump brags about being a "great deal-maker" and a "shrewd businessman" but six of his hotels, casinos and holding companies declared bankruptcy between 1991 and 2009.
On Jersey Shore, crumbling Trump Plaza hotel is demolished
https://www.reuters.com/article/idUSKBN2AH2PS
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Between 1987 and 1994, the Postal Service purchased more than 100,000 Grumman LLV's (Long Life Vehicles). They are nearing the end of their lifespan and will gradually be replaced by NGDV's (Next Generation Delivery Vehicles). Now if the USPS could just get people to go back to sending letters and greeting cards in the mail.......
Oshkosh Defense to build next-generation US Postal delivery vehicles
Reuters, Feb 23 2021 12:22 PM
The U.S. Postal Service said today it will award a multibillion-dollar, 10-year contract to Oshkosh Defense to manufacture a new generation of postal delivery vehicles. Under the initial $482 million investment, Oshkosh Defense, a unit of Oshkosh Corp, will finalize the production design, testing and vehicle tooling necessary prior to vehicle production. The per-vehicle price was not disclosed.
The contract, which could be worth more than $6 billion in total, allows for delivery of between 50,000 and 165,000 of the vehicles over 10 years. They will be a mix of internal combustion-powered and battery-electric vehicles. The current gas-guzzling USPS delivery vehicles are more than 27 years old. An audit report last year said USPS spends an average of $5,000 per delivery vehicle on annual maintenance costs.
https://www.reuters.com/article/us-u...-idUSKBN2AN2A1
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Brothers John, Randy and David Fry opened the first Fry's Electronics store in 1985 in Sunnyvale, California. Two years ago there were 34 Fry's stores in California, Texas, Arizona, Georgia, Illinois, Indiana, Nevada, Oregon and Washington. Toiday there are none. Blame COVID-19.
Fry's Electronics suddenly went out of business
https://www.cnn.com/2021/02/24/busin...ure/index.html
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Don Rickles voiced Mr. Potato Head in the animated Toy Story movies. I can imagine he would have some very harsh words about Hasbro's decision to eliminate the "Mr."
Mr. Potato Head gets new gender-neutral name
https://www.pbs.org/newshour/arts/mr...r-neutral-name
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"I'll hunt in the mountains of Zomba-ma-Tant with helpers who all wear their eyes at a slant." In 1950, that was a line in a Dr. Seuss book that sounded just fine – but people now say the line offends so the book's publication has come to an end.....along with five others.
6 Dr. Seuss books won't be published anymore because they portray people in 'hurtful and wrong' ways
CNN, Mar 2 2021 8:22 PM ET
Six Dr. Seuss books will no longer be published because they "portray people in ways that are hurtful and wrong," the business that preserves the author's legacy said. The titles are: And To Think That I Saw It On Mulberry Street, If I Ran the Zoo, McElligot's Pool, On Beyond Zebra!, Scrambled Eggs Super! and The Cat's Quizzer. In a statement, Dr. Seuss Enterprises said it made the decision after consulting educators and reviewing its catalog. "Ceasing sales of these books is only part of our commitment and our broader plan to ensure Dr. Seuss Enterprises's catalog represents and supports all communities and families," it said. The announcement was made Tuesday, the birthday of the famed children's book author.
https://www.cnn.com/2021/03/02/us/dr...lication-trnd/
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A bill introduced in California would require large department stores to quit marketing toys and clothing for "boys" or "girls." Boys will no longer be boys and girls will no longer be girls. They will all be "kids."
California bill would make kids sections in large stores gender-neutral
https://www.huffpost.com/entry/evan-...b69078ac6bb4d5
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Louis DeJoy says this plan will make the Postal Service "more competitive." More competitive with what? Sloths and snails?
Postmaster General announces 10-year plan including longer mail delivery times and cuts to post office hours
https://www.cnn.com/2021/03/23/polit...lan/index.html
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The Americans With Disabilities Act of 1990 prohibits discrimination on the basis of disability in employment, government, public accommodations, commercial facilities, transportation and telecommunications. "Transportation." The Uber drivers somehow missed that part.
Uber ordered to pay $1.1 million to blind passenger who was denied rides 14 times
https://www.businessinsider.com/uber...ion-ada-2021-4
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The Topps Company was founded in 1938 in Brooklyn. In 1947, they began producing Bazooka Bubble Gum, which included a "Bazooka Joe" comic on the wrapper. In 1950, Topps began packaging gum with trading cards of Western actor Hopalong Cassidy (played by William Boyd). Topps began producing baseball cards in 1952. .
83-year-old baseball card company Topps is going public
https://www.cnn.com/2021/04/06/inves...nft/index.html
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Here is today's "good news, bad news" story:
US consumer prices post biggest gain in 8-1/2 years as economy reopens
Reuters, Apr 13 2021 5:55 AM
US consumer prices rose by the most in more than 8-1/2 years in March as increased vaccinations and massive fiscal stimulus unleashed pent-up demand, kicking off what most economists expect will be a brief period of higher inflation. Today's report from the Labor Department also showed a firming in underlying prices last month as the broader reopening of the economy bumps against bottlenecks in the supply chain, capacity constraints and higher commodity prices.
Federal Reserve Chair Jerome Powell and many economists view higher inflation as transitory, with supply chains expected to adapt and become more efficient. The supply constraints mostly reflect a shift in demand towards goods and away from services during the pandemic, now in its second year. The consumer price index jumped 0.6% last month, the largest gain since August 2012, after rising 0.4% in February. A 9.1% surge in gasoline prices accounted for nearly half of the increase in the CPI.
https://www.reuters.com/article/us-u...-idUSKBN2C01KU