In October 2018, a Boeing 737 Max 8, operated by Lion Air, crashed soon after takeoff and killed 189 people. In March 2019, another Boeing 737 Max 8, operated by Ethiopian Airlines, crashed soon after takeoff and killed all 157 people on board. In response to the two crashes, safety regulators in 42 different countries […]
Higher Minimum Wage May Have Unintended Consequences
A few weeks ago, Senator Bernie Sanders announced his candidacy for President of the United States. Joining a crowded field of Democratic hopefuls, Sanders called on his supporters to “complete the revolution” that he began in 2016. And, just as he did in 2016, Sanders is making wealth inequality a central issue of his campaign. […]
The Crony Capitalist of Omaha
Berkshire Hathaway, run by legendary investors Warren Buffett and Charles Munger, published its annual letter to shareholders on February 23, 2019. Some commentators speculate that Mr. Buffett subtly criticized President Trump in that letter. The passage reads, “It is beyond arrogance for American businesses or individuals to boast that they have ‘done it alone.’” Those […]
Victoria’s Secret Will Be Closing 53 Stores in 2019
Lingerie seller Victoria’s Secret will be closing 53 stores this year as the brand continues to suffer from underperformance and low sales. The store closings comes on the heel of 30 store closures in 2018, demonstrating a consistent decline on a year-to-year basis in the company’s storefront earnings. The loss can be attributed to the […]
Exxon Meets Microsoft in the Permian Basin
Out on the desert plains of west Texas, while searching for the Permian Basin, you may find yourself lost in geological time and space. This vast collection of basins, reefs, and platforms stretches across a land area of 86,000 square miles, nearly the size of Ghana and slightly larger than Belarus. Containing the world’s thickest […]
Hudson Yards Received Big Tax Breaks, But Don’t Compare it to Amazon
The New York Times reported that Hudson Yards, the 28-acre complex of office buildings and luxury housing, has received almost $6 billion in government assistance and tax breaks. This deal follows the failed Amazon headquarters deal, where Amazon would have received $3 billion in tax breaks and created 25,000 jobs. Hudson Yards is an expansive […]
Kraft Heinz Faces Class-Action Lawsuit
On February 27, a proposed class-action lawsuit was made public alleging Kraft Heinz, CEO Bernardo Hees, and Brazilian private equity firm 3G Capital concealed injury to Kraft Heinz’s brands and internal operations. The company is the fifth-largest food and beverage company globally and owns brands such as Capri Sun, Jell-O, Kool Aid, and Lunchables. The […]
Surviving Brexit? US Companies Should Prepare to Avoid Massive Brisruption
Ahead of the March 29 date when the United Kingdom (UK) is set to leave the European Union (EU), U.S. companies are fright with worry about the worse-case scenario. Brexit, short for “British Exit,” reflects the UK’s decision to leave the EU, a political and economic union of 28 countries which trade with each other […]
Bay Area Students ICE out Tech Companies
Tech companies have long regarded elite schools like UC Berkeley and Stanford as rich talent pools integral to their hiring pipelines. And since the schools receive fees from the companies for the privilege of recruiting on campus, the relationship is generally considered to be a symbiotic one. However, in recent months, students at Berkeley and […]
Federal Judge Kicks Class Action Brought by Shoplifters
A federal judge in the Northern District of California dismissed a class action lawsuit against Walmart and several other retailers in February. The class representatives were three individuals who shoplifted from Walmart stores in Georgia, Texas, and Florida. They alleged that the retailers engaged in a racketeering conspiracy by forcing them to either enroll in […]