• If drone delivery is the future, it will require an unprecedented cooperation between government and industry to revolutionize air-traffic control and keep the skies free of drone crashes Link
    Businessweek Mon 08 Aug 2022 22:10

    “Please stay clear of the flight line,” warns Keith Hyde, director of U.S. operations for Wing. Safety comes first on these two fenced-off acres at the dead end of Welcome Street in Christiansburg, Va., where Wing has since 2019 been running the first North American drone delivery service. The drones are electric vertical takeoff and landing (eVTOL, pronounced “ev-tol”) aircraft, so instead of a runway, they park on a grid of landing pads that double as charging stations. Three dozen of the pads are arranged on a gravel patch the size of a basketball court, each topped with a QR code large enough for an incoming drone to scan and confirm its touchdown location.

  • Carlyle’s Jay Sammons, head of consumer, media and retail, leaves firm to start his own Link
    Businessweek Mon 08 Aug 2022 22:05
    Carlyle Group Inc.’s global head of consumer, media and retail, left the company to start a new venture, according to people with knowledge of the matter.

    Sammons is poised to start his own firm, which will make investments in the consumer sector, the people said, requesting anonymity to discuss private plans.

  • The man who fatally shot Ahmaud Arbery is sentenced to life in prison for committing a federal hate crime Link
    Businessweek Mon 08 Aug 2022 21:55
  • Whole Foods Market co-founder John Mackey is planning a second act when he retires from the Amazon-owned grocer next month: building a chain of plant-based restaurants and wellness centers that offer fitness and spa services Businessweek Mon 08 Aug 2022 21:50

    Whole Foods Market co-founder John Mackey is planning a second act when he retires from the Amazon-owned grocer next month: building a chain of plant-based restaurants and wellness centers that offer fitness and spa services.

    Corporate records list Mackey, 68, as a partner in Healthy America LLC, a startup that raised about $31 million from investors earlier this year and aims to launch a “national network” of medical wellness centers and vegetarian restaurants.

  • Stress tests meant to keep Wall Street in check after the 2008 crisis have curtailed some banks’ plans to return money to their shareholders Link
    Businessweek Mon 08 Aug 2022 21:35

    Wall Street loathes bank stress tests—and arguably owes a lot to them. The regulatory checkups by the Federal Reserve, instituted after the 2008 global financial crisis with the aim of averting another one, run banks’ balance sheets through simulated doomsday scenarios to gauge whether they’d make it through. This year banks were tested on a hypothetical cocktail of surging unemployment, collapsing real estate prices, and a plunge in stocks.

    All 33 of the biggest lenders in the US

  • B2B businesses are putting more of their ad dollars behind LinkedIn influencers Link
    Businessweek Mon 08 Aug 2022 21:30
    Bernard Marr, 49, who has degrees in business, engineering, and information technology, is interested in topics such as artificial intelligence and digital transformation. In his online videos about the future of technology and business strategy, the gray-haired consultant and author usually wears a black suit jacket and black T-shirt to offer his take on top industry trends with a calm, instructive delivery. It’s not your typical influencer performance.

    And yet 2 million people follow Marr on social media, and he’s attracted big brands looking to drive sales by partnering on his posts, including International Business Machines, Microsoft, and Alphabet’s Google. “It’s always been companies coming to me saying, ‘Do you want to work together? We’ve got these interesting stories to share, and you’ve got an audience,’” says Marr, whose social media content creation takes up a third of his working hours and contributes as much as half of his income.

  • Money managers are selling insurance against sudden market drops, but the strategy doesn’t always pay off when the market falls Link
    Businessweek Mon 08 Aug 2022 20:50

    An increasingly popular sales pitch on Wall Street goes like this: If you’ve insured your home against some disaster, or even a total loss, shouldn’t you do the same for your investment portfolio? In the case of a house or apartment, the danger would be fire, flooding, or perhaps a devastating storm. In the financial markets, it might be a sudden spike in volatility and a rapid decline in prices that wipes out months if not years of gains.

    For investors of all stripes, from the most august institution to the scrappiest day trader, the current maelstrom of sustained inflation, never-ending pandemic, war, rapidly rising interest rates, swooning tech stocks, and crypto collapse—what economic historian Adam Tooze calls a

  • While right-wing politicians have fought to keep all kinds of messages out of children’s education, some conservatives have latched on to the Ayn Rand-espousing Tuttle Twins Link
    Businessweek Mon 08 Aug 2022 20:25

    While right-wing politicians and activists fight to keep all kinds of supposed messages out of children’s education, the Tuttle Twins are trying to build an online audience of budding Milton Friedmans and Friedrich Hayeks.

  • To stay relevant, Jazzercise has weaved in modern workout trends and music while keeping true to its roots Link
    Businessweek Mon 08 Aug 2022 20:05
    Jazzercise Inc., is dancing her butt off. From her raised platform, Missett enthusiastically calls out directions and words of encouragement, her voice projected through speakers. Dozens in the brightly lit studio follow, pivoting, shaking, swerving, and sweating. An hour earlier, Missett’s daughter, Shanna Missett Nelson, was teaching her own fitness class, with a guest appearance on the platform by her own daughter Skyla, their affirmations busting through a nonstop playlist of pop anthems.

    Founded by Missett in 1969, the closely held company, which is based in Carlsbad, Calif., has grown to encompass 8,000 franchisees teaching 32,000 classes each week worldwide. Even as much of the fitness industry contracted during the Covid-19 pandemic, Jazzercise had revenue of $73 million last year. How then is it that an exercise business that harks back to the era of Jane Fonda workout tapes, neon spandex, and legwarmers remains here in 2022—and is thriving? It’s thanks to a...

  • As inflation eats away at auto workers’ wages, the UAW is facing growing pressure from its members ahead of next year’s contract negotiations Link
    Businessweek Mon 08 Aug 2022 19:40
    Inflation and the Great Resignation have forced Amazon, Apple, and other major employers to raise wages in the past year. But for Detroit’s automakers, the bill likely won’t come due until 2023. That’s when
  • Weak digital privacy protections could turn web searches and text messages into post-Dobbs tools of oppression Link
    Businessweek Mon 08 Aug 2022 19:30

    Abortion-rights activists are warning of the consequences of weak digital privacy protections in a post-Dobbs landscape. Even before the decision, law enforcement had been honing tactics that could now be used against people seeking an abortion in states where it’s banned—or beyond.

    Academics have found that searches for

  • Corporate America has clearly learned to play the inflation game Link
    Businessweek Mon 08 Aug 2022 18:29
    Kraft Heinz. The details were different in each case—some reported sharp volume declines, and others came in unchanged—but the broad trend was crystal clear: Output growth is dead, prices have been jacked up, and revenue is, as a result, rising moderately.

  • A rough couple of months has given Mark Zuckerberg the chance to paint his social media and advertising colossus as an underdog Link
    Businessweek Mon 08 Aug 2022 18:19
    swallowing up startups in a nascent field he hopes to dominate. Zuckerberg has used those tactics to great success for more than a decade. I’m talking about his attempt to present
  • Abortion bans will wipe out decades of economic progress in the US Link
    Businessweek Mon 08 Aug 2022 17:49

    Fear is like acid on the brain, etching memories that remain long after you’ve forgotten things like the formula for photosynthesis or your first boyfriend’s favorite band.

    More than a quarter century has gone by, but there’s so much I remember about that day in Miami: The tacky black satin sheets on the bed in the one-bedroom condo my boyfriend’s friend had loaned us for our weekend trip, the white glare of the sun outside, and the double line on the indicator window of the at-home pregnancy test I held in my hand.

  • From a state senator to a machine worker, Americans reveal—in their own words—how an abortion changed their life Link
    Businessweek Mon 08 Aug 2022 17:34
    transformational impact the ruling had on the ability of women to join the workforce, build a career, and boost their earning power over the past 50 years. “I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades,” Treasury Secretary Janet Yellen told a
  • A Texas chef is tackling food scarcity and income inequality by opening farms in Black communities Link
    Businessweek Mon 08 Aug 2022 17:19
    Kendleton, Texas, when the tiny community was established more than a century and a half ago. After the Civil War ended in 1865, formerly enslaved Americans purchased plots from a plantation owner to harvest cotton, corn, and wheat, and to grow produce for their families. But over the years the farmland has been increasingly dedicated to raising cows, pigs, and chickens, or gone unused because of competition from bigger agribusinesses. Now, few of the 339 residents, 77% of whom are Black, farm their own properties—and Kendleton, which is in Fort Bend County and a 45-minute drive southwest of Houston, is considered a food desert. The nearest supermarkets with any sizable quantity of fresh fruits and vegetables are more than 20 miles away in Richmond.

    To address the lack of fresh produce and help residents reconnect with their farming roots,

  • In 2021, the tech industry spent more on political ads than the pharmaceutical industry—the traditional leader in the field Link
    Businessweek Mon 08 Aug 2022 16:14

    In a short video ad posted online in May, a middle-aged man gives a scary speech while adjusting a large object hidden under a tarp in the bed of a pickup truck. Parked on the street outside a suburban home, he ticks off a few of his favorite tech services—smartphone apps that give driving directions and overnight e-commerce delivery—then says, “Politicians have a plan to get rid of all that.” The video ends with him jumping into the driver’s seat and buckling up as the sentence fragment “

  • In Israel, slain soldiers are becoming dads thanks to a technique called postmortem sperm retrieval. Critics call it planned orphanhood Link
    Businessweek Mon 08 Aug 2022 16:09

    The Memorial Day gathering in Kiryat Shmona, like countless others across Israel in early May, begins in the morning at the local military cemetery. Everyone stands in silence as a siren blasts for two minutes. Wreaths are laid, speeches are made, and tears are shed.

    Later, about 20 people, young and old, sit around the table in the main room of a public housing apartment in this city near the Lebanese border. They help themselves to pasta, shawarma, cakes, and coffee, and they remember German Rozhkov.

  • RT @luxury: A cross-asset reporter reviews the second season of HBO's Industry, and finds a world where the real rules of Wall Street don't…
    Businessweek Mon 08 Aug 2022 15:34
  • RT @wealth: San Francisco is the major US metro area where home prices are falling as its tech wealth boom fades Link
    Businessweek Mon 08 Aug 2022 15:34

    A palatial five-bedroom home built in 1932 with stained-glass windows, hand-carved doors and jaw-dropping hillside views of downtown San Francisco hit the market in April for $9.5 million. In June, the owners dropped the price to $7 million.It went up for auction last week with an opening bid of $4.5 million. No offers emerged.

    That kind of pullback is a stark turn for a tech-fueled city long marked by extreme wealth and ever-escalating home prices. Now, as the US housing market

  • Twitter's shareholders and employees, as well as anyone involved in future acquisitions on Elon Musk’s behalf, are all worse off because of the drama Link
    Businessweek Mon 08 Aug 2022 15:34
    Elon Musk once presented his proposed buyout of Twitter as far more than a business deal. In April he claimed the social network—tiny compared with Facebook or Instagram but beloved by journalists, politicians, and Elon Musk—was “the de facto town square” and crucial to the cause of global freedom. Musk said
  • Price increases helped plenty of companies report growth. But it's not healthy growth, and it doesn’t really help the economy Link
    Businessweek Mon 08 Aug 2022 15:08
    Kraft Heinz. The details were different in each case—some reported sharp volume declines, and others came in unchanged—but the broad trend was crystal clear: Output growth is dead, prices have been jacked up, and revenue is, as a result, rising moderately.

  • What the oil shocks of the 70s can tell us about today Link
    Businessweek Mon 08 Aug 2022 14:43
    Panic at the Pump was well received when it was first published in 2017, but it’s even more of a must-read today. There are no lines at gasoline stations these days like there were in the 1970s, and no US president would dare go on national television to counsel viewers to turn down their thermostat in winter and drive at lower speeds. But there’s plenty that resonates: Inflation is running at four-decade highs, in part because of
  • RT @wealth: Berkshire Hathaway is following an age-old adage: Buy the dip Link
    Businessweek Mon 08 Aug 2022 14:33
  • Police departments often lack the resources and training to respond to sextortion cases effectively. So one victim took matters into their own hands Link
    Businessweek Mon 08 Aug 2022 14:08

    Natalie Claus was getting accustomed to her sorority and preparing for winter break one evening in December 2019 when people she knew began receiving unusual messages from her. These Snapchat messages, which contained nude photographs of Claus, went to her friends, a cousin, an ex-boyfriend, and dozens of others she knew, more than 100 people in all. Some of the recipients responded with enthusiasm, others with confusion, as if Claus had played a bad joke. But one of her friends, Katie Yates, immediately recognized the messages as an online attack—and knew just how Claus should respond.

    Yates was also a student at the State University of New York College at Geneseo, 40 miles south of Rochester, where Claus was a sophomore. Several months earlier, after Yates reported being sexually assaulted, someone had begun sending her abusive messages on social media. Feeling like she wasn’t getting enough support on campus, Yates began researching ways to identify her harasser.

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