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Miscellaneous

Better consider bringing a carry-on

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And only a carry-on… because checking your bag will now cost $30 instead of $25 with United Airlines. The second bag, if you need it, will cost $40 instead of $35. However, if you have the MileagePlus Premier status, you can continue to check your luggage for free. For the rest of us, just get through security with your “carry on.”

 

For the greater good… of all airline passengers because United plans to invest in the “overall customer experience” with the increase cost. And the company is offsetting their rising costs by charging passengers more. Not that you can blame them – many are expecting airlines to see a significant drop in profits for 2018.

 

This isn’t a coincidence… because fuel and labor costs have been climbing and eating airline profits. JetBlue, Air Canada, and West Jet all increased the price of checked bags in similar amounts. So your ticket won’t cost more – but everything that you pay for after buying your ticket will cost more. And despite rising costs, United stock is up 27% this year.

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Miscellaneous

Not just a Didi problem…

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Who knew getting into a strangers car… could be just downright dangerous? Didi Chuxing, a Chinese ride-sharing firm, is dealing with the rape and murder of a passenger that occurred in August. Also, in the past four years, 103 Uber drivers and 18 Lyft drivers have been accused of sexually assaulting or abusing riders. Can these issues be resolved, or is ride-sharing just dangerous?

 

More oversight is required… by the government to ensure that these services are safer. In ten years, we went from “never ride with strangers” to paying strangers to take us places. Uber transports about 15 million riders worldwide each day. With so many rides, while it is unlikely, you can see why these things happen and continue to occur.

 

Here are some ideas… including allowing female passengers to select female drivers. A panic button could also be put into apps so that riders can call 9-1-1 quickly. At any rate, government oversight could give these companies the “push” they need to use technology to create better, safe rides.

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Miscellaneous

Here’s what Vodafone just dropped (hint: it’s not a call)

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Vodafone actually dropped… $8 billion on a merger with TPG, a major fixed-line broadband provider. The deal will help Vodafone be more competitive in Australia’s telecom market during a time where the country attempts to move to faster mobile networks.

 

More 5G talk… and the merger will position Vodafone to invest in 5G technology and offer faster service. Vodafone is one of the world’s most significant wireless network providers, and TPG plans to begin building a mobile network to go along with their fixed-line services. Together, the companies will be bidding on part of Australia’s 5G wireless spectrum.

 

Investors clearly liked it… because shares of TPG skyrocketed by 16% and Hutchinson Australia Telecommunications (who holds a stake in Vodafone Australia) skyrocketed even more by 52%. Together, the two will attempt to conquer the shifts in technology and consumer demand occurring in the “Land Down Under.”

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Miscellaneous

Tariffs on alcohol? This trade war has gone too far…

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Jack Daniels is raising prices… but don’t worry, because they will be doing so in the European Union, which is far away from most of us. But for the rest of you – I am sorry because American bourbon is under attack by China, the EU, and Mexico. So is this a coordinated effort to ruin the lives of Jack Daniels lovers? No. The higher prices are retaliation for steel and aluminum tariffs set in place by Donald Trump.

 

Prices are up in some places… but Jack Daniels would like to avoid hiking prices everywhere if they can. The stiff competition in the liquor market and an optimistic view of the trade-war should keep costs at bay for a while. However, these taxes will undoubtedly put a dent in company profits because 25% of sales are made in the EU.

 

When will the madness end… well, there is a preliminary trade deal in place between the United States and Mexico, so that’s good news. However, China isn’t blinking and plans to put tariffs on up to 25% of American products. The most affected product will be automobiles – which is not nearly as important as alcohol, according to, erm….research.

Miscellaneous

Barnes & Noble (which IS still a thing) sued by former CEO

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Barnes & Noble is being sued… by their CEO of all people. Actually, it is the former CEO (important detail there) and therein lies the problem. So, former Barnes & Noble CEO Demos Parneros is suing his old company for firing him without cause and “irrevocably damaging” his reputation. The suit alleges breach of contract and defamation and is asking for severance pay, lost wages, and various other damages.

 

The company doesn’t see it that way… and the bookstore doubled down on its initial claims that Parneros was fired for multiple violations of company policies. In the company’s view, the former CEO is trying to extort money after being canned for sexual harassment, bullying behavior, and other violations.

 

The last thing they need… is a lawsuit. In case you haven’t noticed, Barnes & Noble is not exactly the go-to shopping destination anymore (if it ever was). However, with competition from Amazon, it seems like a tough road lies ahead for the one-time ruler of books. The company has seen sales decline steadily over the last five years and has lost money in three of those years. At any rate, figuring out whether the reason for firing was fact or fiction should be pretty entertaining for us.

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Miscellaneous

Here’s why you shouldn’t wager on casino stocks

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More Americans will be betting… but that doesn’t mean that casino stocks will be on the winning end of such bets. MGM Resorts, Caesars Entertainment, and Wynn have all seen their share prices fall since sports gambling has been made possible nationwide. However, with Americans betting over $150 billion per year on sports, there is money to be had – right?

 

This probably isn’t where the money is… for casinos, at least. And sportsbooks are typically one of the least profitable operations for casinos. Many casinos rely on sports betting to reel in gamblers and get them to try their hand in blackjack or slots – the real money makers for the house. With that, you can see casinos weren’t cashing in on sports betting even where it was legal to do so.

 

There will be plenty of competition… because everyone wants in on legal sports betting. The new competition could even include Buffalo Wild Wings who is looking to work with an established sportsbook and enter the market. There will be international sportsbooks that want in on the US market. Who will come out on top? That remains to be seen, but just like gambling – there is no easy money to be had in the market.

Miscellaneous

‘Robo-dogs’ will take over the planet

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Brought to you by Sony… and Thursday the company announced that the popular robot dog Aibo will be coming back state-side in September for the first time in twelve years. As you can imagine, the new dog will be about a thousand times smarter than its older 2006 counterpart. The new features include facial recognition and the ability to develop a personality with the help of artificial intelligence (is that a good idea?).

 

And for a mere… $2,899 you can have your very own Aibo. So, it’s cool – but is it three-thousand dollars cool? That’s for you to decide if you are in the market for a companion robot. However, you better act fast because Aibo is only available for a limited time in the United States.

 

More importantly… the robo-dog demonstrates that Sony is capable of AI and robotics. That’s right – Sony goes far beyond televisions and speakers. Aibo is a reflection of the company’s broader investment in artificial intelligence and robotics. In the meantime, let’s all hope these things develop “nice” personalities and not vengeful ones.

Miscellaneous

The rich get richer – again

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It’s the tax cuts… that have helped propel banking profits to a record $60.2 billion in the second quarter. This record profit beats last quarter’s record profit by a whopping $4B+ and profits are up 25% compared the same time last year. Apparently, over half of this newfound wealth has come from the drastically lowered corporate tax rates created by Trump himself.

 

They take their tax savings… and help the rich get richer. Well, that is an argument some are making – really, these banks are paying higher dividends and funding stock buybacks. The bankers are claiming that they are pumping money back into the economy, which in-turn, helps the economy.

 

The bankers are also saying… that tax cuts are not the reason that they are doing so well. It is the economy that is producing such excellent results. That’s right – more lending because people can’t get enough cold, hard cash. However, to be realistic, it is a combination of tax reform, strong lending, and the economy. So if you’re someone that thinks bankers are crooks – hopefully, this doesn’t put a damper on your day.

Miscellaneous

How could SPAM be performing so poorly?

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I can’t imagine there are many of you… but I have some terrible news for SPAM lovers. Hormel reported worse-than-expected sales on Thursday and is proceeding with caution due to tariffs on US agricultural products. Specifically, pork exports have declined along with sales and profitability. These tariffs are almost definitely going to put a dent in earnings this year for Hormel.

 

Shares were down… just 3% after the announcement which isn’t too bad. And who knows if it is even the tariffs because SPAM is disgusting…just kidding. While I stand by my stance on SPAM, in reality, it probably is the tariffs…

 

They’re not alone… because Sanderson Farms, a producer of poultry, reported that the trade turmoil is hurting their earnings, as well. Grain costs have gone up; shares of Sanderson have gone down (by 4%). Tyson is another company that has complained about the tariffs. So it looks like pork producers pockets will be a little less fat this year..

Miscellaneous

Get off your phone (after you read this one…and the next one)

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More than half… of teenagers actually admitted to using their smartphone too much. A quarter of these kids said they feel anxious, lonely, or upset without their phone. And hell, I do, also – how else can one avoid looking like a loser while standing in public alone or escape boredom while on “the John.” Answer: you can’t.

 

But I am beyond help… however, kids aged 13 to 17 are not. Doctors are concerned that too much screen time can negatively impact everything from cognitive development to social skills. This issue is now coming to light because teens haven’t had such universal access to these devices in the past. 95% of teens in the United States have smartphones now.

 

The good news… is that kids are supposedly trying to cut down on their smartphone use (or at least they say). However, teenagers may need to take matters into their own hands considering adults aren’t much better about staying off their phones. Or maybe we are just all doomed..