Business news 2019

[Rewind]

It's a new year and here is a new thread. This thread will feature the biggest business news stories of 2019. We can start a thread for 2020 business news in 2020 -- and a thread for 2021 business news in 2021 -- and.......well, you get the idea. Unfortunately, the first two big stories of 2019 are bad news.

Apple's surprise revenue shortfall is dragging down the rest of the tech industry
Business Insider, Jan 2 2019

Apple said today that its holiday quarter revenue would be 7% lower than expected due to weakening iPhone sales, primarily in China. Since the announcement, Apple's stock has dropped more than 7% in after-hours trading. The news of Apple missing its mark appears to be impacting other tech stocks, with Amazon, Intel, Alphabet, Qualcomm and others all taking hits in after-hours trading.

https://www.businessinsider.com/tech...ay-mark-2019-1

[Rewind]

In 1901, Carl Wallin and Swedish immigrant Johan Nordström opened a shoe store in Seattle. Cleverly known as Wallin & Nordstrom, the store was successful enough that other locations were opened. In the 1960s-70s, Nordstrom began selling clothing, handbags, accessories and cosmetics in addition to shoes and today there are 380 Nordstrom stores in the United States and Canada. Blake Nordstrom and his two brothers are the great-grandsons of the company's co-founder.

Blake Nordstrom, co-president of Nordstrom, dies at age 58 after fight with cancer
Blake's brothers, Pete and Erik Nordstrom, will continue as co-presidents of the company.

https://www.cnbc.com/2019/01/02/blak...at-age-58.html

[Rewind]

I wonder if Amazon-owned gas stations would get a lot of business. Many people no longer drive anywhere to go shopping. They stay home and order books, movies, music, clothing, electronics and groceries online.......from Amazon.

DA Davidson analyst says Amazon should open gas stations

https://www.detroitnews.com/story/bu...ions/38833149/

[Rewind]

Last year, President Trump accused American pharmaceutical companies of "getting away with murder." He vowed to lower drug prices. He couldn't -- and he didn't:

Big Pharma ushers in new year by raising prices of more than 1,000 drugs

https://www.cbsnews.com/news/drug-pr...ger-ingelheim/

And here is how one company is spending some of its many billions of dollars:

Bristol-Myers Squibb will buy mega-biotech Celgene for $74 billion in cash and stock

https://www.forbes.com/sites/ellieki.../#3ed977e434eb

[Rewind]

In 1967, Kelleher and business consultant Rollin King founded Air Southwest in Dallas. It was renamed Southwest Airlines in 1971. Kelleher thought Southwest would not be subject to federal regulations if all its flights were within Texas. In 1979, Southwest finally began offering service to other states and today carries more domestic passengers than any other US Airline. And, unlike other airlines, the company does not charge any extra or "hidden" fees. Since October 2015, their slogan has been "Low fares. Nothing to hide. That's TransFarency." If I ever make a list of the all-time worst business slogans, that will probably be in the top ten, along with Allstate's "We know a thing or two because we've seen a thing or two." You know as many as two things? Wooh!

Herb Kelleher, Southwest Airlines founder, dies at 87

https://www.cnn.com/2019/01/03/busin...bit/index.html

[Rewind]

Because so many Americans are canceling their TV subscriptions, TV providers are offsetting the revenue loss by raising their rates. Higher rates mean more subscribers will cancel. Then rates will go up again -- and more subscribers will cancel -- and.......well, this could go on for many years.

Comcast, Dish, DirecTV to raise TV prices to counter cord cutting

https://www.msn.com/en-us/money/comp...O594?ocid=AMZN

[Rewind]

In 1921, Lucius Lowe opened a hardware store in North Wilkesboro, North Carolina. In 1949, he opened a second store in Sparta. Lowe's now has more than 2,300 stores in the United States and Canada and is the second-largest hardware chain behind The Home Depot. And if you get a job at Lowe's, you can wear one of those stylish, red, polyester-mesh vests. Wooh!

Lowe's plans to hire 65,000 workers this year
CBS News, Jan 4 2019 5:30 PM

Home-improvement giant Lowe's plans to hire more than 65,000 workers in 2019, most for seasonal jobs. Later this month, the company will start posting more than 50,000 seasonal jobs to help customers with spring indoor and outdoor projects at certain locations. It plans to add nearly 10,000 permanent merchandising personnel, as well as 6,000 full-time store managers and department supervisors. Lowe's also plans to fill more than 2,000 technology positions, including software engineers.

https://www.cbsnews.com/news/lowes-p...ers-this-year/

[Rewind]

The 99 Cents Only chain has stores in California, Arizona, Texas and Nevada. Initially, everything was priced at 99¢ or less. As rising costs cut into profit margins, in 2007 all 99¢ items were raised to 99.99¢. The stores now carry a few $1.99 and $2.99 items. Will the similar Dollar Tree stores start selling things for more than a dollar? An investor thinks they should -- but I'm wondering, would they rename it Dollar-Twenty-Five Tree?

Activist investor wants Dollar Tree to start selling things for more than $1

https://www.cnn.com/2019/01/07/inves...ard/index.html

[Rewind]

Amazon may open as many as 3,000 cashier-less Amazon Go stores in the next three years. Kroger, the nation's largest supermarket chain (Kroger, QFC, Ralphs, Dillons, Fry's, Smith's, Roundy's, Fred Meyer, Food 4 Less) is looking to compete by partnering with Amazon to launch markets with "digital shelves" and "digital price tags." Customers can use an app to create a shopping list and then the app will use the store's software and sensors to lead customers to the items on their list. But is that really necessary? Is it all that difficult for a shopper to go to a market and buy what he wants without using an app?

Kroger and Microsoft partner up to take on Amazon

https://www.cnn.com/2019/01/07/busin...res/index.html

[Rewind]

Muslims objected to Amazon selling bath mats and welcome mats bearing Islamic calligraphy. They say stepping on those mats would be disrespectful. Today, January 8, is Elvis Presley's birthday. What would Amazon do if I complained about them selling a disrespectful Elvis bath mat?

https://www.amazon.com/Elvis-Presley...dp/B07KVSQMVG/

Complaints prompt Amazon to remove products that are offensive to Muslims

https://www.msn.com/en-us/money/comp...XaU8?ocid=AMZN