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Latest Articles: Business
Target, Bud Light investors lose billions on marketing misses
Post Date: 2023-05-29 19:21:14 by Charles_Byrd
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Recent high-profile and controversial marketing decisions by Target and Bud Light are backfiring and burning shareholders in the process to the tune of a combined $28 billion. Click for Full Text!
The FTC should answer its Call of Duty to Gamers
Post Date: 2023-05-26 00:21:07 by Charles_Byrd
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All too often, unscrupulous businesses weaponize the United States’ antitrust laws — which are only supposed to be utilized to protect consumers against higher prices and other consequences of monopoly power — for their own self-serving purposes. Professor Thomas DiLorenzo noted this problem more than a third of a century ago in a piece titled The Rhetoric of Antitrust. He wrote that, “In theory antitrust regulation promotes competition in the marketplace but in reality its results are often anticompetitive. It is routinely used by businesses having problems competing.” A key to understanding the difference between competition as a process benefiting consumers and ...
Biden accused of 'war' on small businesses
Post Date: 2023-05-14 21:37:54 by Charles_Byrd
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President Biden claims to support small businesses during National Small Business Week this week, but his actions speak louder than words. Biden is waging war on small businesses, hitting them hard with new regulations, taxes, and inflation. At the same time Biden gave his pro-small business remarks on Monday morning, First Republic Bank crashed in one of the biggest bank failures in American history due to Biden's bad policies. As with the recent failures of Silicon Valley Bank and Signature Bank, First Republic buckled under the weight of plummeting asset values due to the Federal Reserve's rapidly raised interest rates to fight Bideninflation. Click for Full Text!
Another One Down? First Republic Bank Fails, FDIC Sells It to JP Morgan
Post Date: 2023-05-03 20:37:19 by Charles_Byrd
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It was only 6 weeks ago when the nation was briefly paralyzed with concern as we watched three banks go under, with their deposits under FDIC control. At the time, I wrote that one of the next banks to fail could be First Republic Bank. And today may be the day that it does unless there’s a dramatic last- minute save. If it does fail, it will be the second-largest bank failure in American history. Click for Full Text!
FDIC Cash Balance Covers 1.27% of All Insured Deposits
Post Date: 2023-05-03 20:31:48 by Charles_Byrd
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Today, The Economist is suggesting that mining companies begin the same absorption process. Lauding the agenda as the creation of a super commodities group or “Cartel”, the industry includes green metals as well as coal and other minerals such as lithium. Monopolies are the end goal. Within this western trend, newly crowned King Charles has altered his coronation to add a ‘pledge’ that all Brits are called to recite in unison proclaiming their obedience to the King. Not to the Land. Not to the Constitution. But to Charles the man who intends to expand his Kingship duties so as to fully indoctrinate the British Empire that was and isn’t. Hail Britain’s ...
The Path to Abundant Air Travel
Post Date: 2023-05-01 21:43:41 by Charles_Byrd
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More passengers fly within the United States each year than any other country. On many levels, this makes sense, given the size of the U.S. economy, the distances involved, and that aviation is an industry where the U.S. remains highly competitive, from the manufacture of aircraft to the making of jet engines. And supposedly, the industry is also a poster child for deregulation, culminating with 1978’s Airline Deregulation Act. Yet while there are hundreds of brands of breakfast cereal, there is limited product differentiation from a limited number of U.S. airlines. Moreover, air travel isn’t becoming materially more reliable—the percentage of U.S. domestic on-time arrivals ...
IRS Data Book Reveals Size & Scope of Nation’s Tax-Exempt Religious Nonprofits
Post Date: 2023-04-27 00:15:41 by Charles_Byrd
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Earlier this month, the U.S. Internal Revenue Service (IRS) published its 2022 Data Book, a massive collection of filing data, compliance activities, and other statistics covering the nation’s tax base. The 82- page document contains several interesting facts about religious, charitable, and similar organizations—the largest subcategory of tax- exempt nonprofits. Click for Full Text!
Anheuser-Busch Announces Staffing Shake-Up after Dylan Mulvaney Controversy
Post Date: 2023-04-24 17:18:20 by Charles_Byrd
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Bud Light marketing VP Alissa Heinerscheid, who said the brand was “fratty” and “out of touch” and devised the much-criticized Dylan Mulvaney partnership, is taking a leave of absence. Click for Full Text!
Official: Credit Suisse Takeover Will Be Smooth
Post Date: 2023-04-09 02:40:21 by Charles_Byrd
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UBS's multibillion-dollar state-sponsored takeover of Credit Suisse should proceed smoothly without political obstructions, Swiss Finance Minister Karin Keller-Sutter said in an interview published on Saturday. The Swiss parliament is due to hold an extraordinary session next week to discuss the emergency merger engineered by the Swiss authorities after Credit Suisse came close to collapse. Click for Full Text!
Musk Opens Twitter Algorithm; Slams Others Who Won't
Post Date: 2023-04-02 22:45:38 by Charles_Byrd
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Elon Musk on Saturday fired a shot across the bow at social media companies for not publicly releasing their algorithms that recommend content. Responding to a tweet from venture capitalist David Sacks regarding the promise to make Twitter's algorithm public, Musk said, "They know they cannot defend what their algorithm actually does, so they will keep it closed." Click for Full Text!
Fmr. US Treasury Official: Five US banks May Collapse, Lose Twice World GDP
Post Date: 2023-03-15 18:38:30 by Charles_Byrd
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A former US Treasury official has warned that the American banking system is “not safe” and the collapse of the five largest US banks can incur losses twice as much as the world’s Gross Domestic Product (GDP). Former US Assistant Treasury Secretary Paul Craig Roberts said on Monday that despite US President Joe Biden’s recent statement about the safety of bank deposits after the collapse of two major banks, the banking system in the US is not capable of covering the risks associated with banks’ collapse. Click for Full Text!
Chart of the Month: Any Questions?
Post Date: 2023-03-14 23:28:07 by Charles_Byrd
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The next Bull Market will start when everyone has given up on the stock market as the means to "get rich quick" or even "get rich slowly." Here's the chart of the month: a weekly chart of the S&P 500 (SPX) showing the giant wedge going back to January 2022 has broken decisively down. Click for Full Text!
Turmoil at Silicon Valley Bank triggers market panic: Four biggest US banks lose staggering $52 BILLION in valuation and Dow drops 540 points
Post Date: 2023-03-12 01:50:23 by Charles_Byrd
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Sharp losses in banking stocks led Wall Street's main indexes lower on Thursday, as turmoil at Silicon Valley Bank's parent company triggered investor fears about the stability of the financial sector. Click for Full Text!
Walmart is closing a batch of stores in 2023 — here's the full list
Post Date: 2023-03-08 21:31:40 by Charles_Byrd
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Walmart will close eight retail locations across the US this year, citing poor financial performance at each. The recent closures follow a trend of Walmart closing a handful of stores across various states each year, with the company saying that the stores are "underperforming" without providing specifics. Click for Full Text!
Musk Says Twitter About to Be Cash Flow
Post Date: 2023-03-07 19:24:45 by Charles_Byrd
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Twitter Chief Executive Elon Musk said Tuesday the company had "a shot" at being cash flow-positive next quarter, as costs have been cut and users have risen. Musk, who was speaking at an investor conference that was webcast, said it was "startling" how poorly Twitter managed to make money off its messaging service. Click for Full Text!
Adidas May Burn $500M Worth of Ye Sneakers After Breakup
Post Date: 2023-03-06 18:19:45 by Charles_Byrd
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The financial breakup between Adidas and embattled rapper Kanye West could reportedly have a nine-figure price tag. Within this process, the German sportswear company is also pondering the notion of "literally burning" approximately $500 million worth of Kanye- related sneakers. Click for Full Text!
Subprime Auto Lender And Used Car Retailer Collapses as Distress Cycle Finally Arrives
Post Date: 2023-03-01 17:46:31 by Charles_Byrd
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One month ago, when discussing the “perfect storm” hitting the US auto market, we showed that according to Fitch “More Americans Can’t Afford Their Car Payments Than During The Peak Of Financial Crisis“… Click for Full Text!
Credit Suisse Craters After "Staggering" Bank Run And Warning Of Continued Losses
Post Date: 2023-02-11 00:40:52 by Charles_Byrd
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Back in late 2022, when Credit Suisse stock cratered to never before seen levels after a series of dismal earnings reports and regulatory "missteps" sparked a staggering bank run, amounting to some $88 billion forcing the bank to seek emergency liquidity from the Fed via SNB swap lines, and which also led to a historic corporate restructuring which included the de facto closure of the bank's investment bank coupled with mass layoffs and bonus cuts, many thought that would be as bad as it gets as the (rapidly changing) management had finally thrown out the kitchen sink. Boy, were they wrong. Click for Full Text!
Stock Market Correction Hits Religious Foundations
Post Date: 2023-02-03 15:31:02 by Charles_Byrd
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Foundations and donor-advised funds (DAFs) are witnessing a natural self- correction from the last few years of elevated stock market gains and unprecedented donations. This comes after DAFs posted significant growth across grants, contributions and charitable assets in 2021, according to a report released last November by the National Philanthropic Trust, which examined nearly 1,000 charities that sponsor or manage DAFs and report at least $1 billion in assets. Click for Full Text!
Government Keeps Meddling With Private Company Decisions
Post Date: 2023-02-02 22:57:57 by Charles_Byrd
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When I lollygagged or dragged my feet as a small child, my mom used to say, "You have two choices: You can do it happily, or I can make you." Even as a preschooler, I understood that wasn't a choice at all, only a warning about how unpleasant things could get for me if I failed to comply. Employees at Twitter—and Facebook—chose to censor, suppress, and undermine dissenting viewpoints happily. But they were always facing a false choice. The public has now had the chance to peek at thousands of communications between government officials of various stripes and employees of Twitter (the so-called Twitter Files), released by Elon Musk after his acquisition of the social ...
Amazon to Close its Smile Program, Impacting Christian Ministries
Post Date: 2023-01-31 18:16:30 by Charles_Byrd
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Nearly a decade ago, Amazon created its Smile program as a way for its customers to support their favorite charities. Now it has decided to shutter the program. Click for Full Text!
Charitable Giving is Up but Number of Donors is Down for Third Consecutive Year
Post Date: 2023-01-14 04:41:24 by Charles_Byrd
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Money given to charities was up, but the number of individual donors was down during the period from Jan. 1 to Sept. 30, 2022, according to a new report from the Fundraising Effectiveness Project. Click for Full Text!
Silvergate Shares Plunge After Withdrawals Top $8.1 Billion During Crypto Meltdown
Post Date: 2023-01-05 23:44:19 by Charles_Byrd
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Silvergate Capital shares have been on a rollercoaster in the last 24 hours. Soaring 27% on a short squeeze Wednesday and now down 40% on Thursday morning after the crypto bank reported a run on deposits following the FTX bankruptcy, slashed its workforce by 40%, and shelved plans to launch its own digital currency. Amid the FTX debacle in the fourth quarter, the bank said in an early release of some quarterly results that crypto-related deposits plunged 68%. Click for Full Text!
For Now, Innovation and Entrepreneurship Still Holds a High Place in the USA
Post Date: 2023-01-04 18:25:13 by Charles_Byrd
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Commentators worry that the United States might lose its dominance in innovation to Asian countries like China and Singapore. Many policymakers are intimidated by the R&D budgets of Asian countries and by their superior performance on international academic assessments. However, these concerns are misguided because the United States still dominates innovation. The United States ranks second on the Global Innovation Index and scores the highest in the world on fifteen of eighty-one innovation indicators. The US innovation ecosystem continues to lead in the commercialization of research, and its universities are on the cutting edge of academic research. Other countries are expanding ...
2022 in U.S. stock market was worst year since … 2008!
Post Date: 2022-12-30 19:07:14 by Charles_Byrd
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Under Joe Biden's economy during 2022, widows lost money. So did widowers, husbands, wives, families, cousins and the guy who pours beers at the corner bar. Click for Full Text!
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