Following its victory against the Big 3 US automakers, the United Auto Workers(UAW) labor union announced it would be launching initiatives to expand to other car automakers, which have fewer unionized workers. Recently, a landslide victory in a Volkswagen factory in Chattanooga, Tennessee last month suggested that the UAW’s push towards greater unionization was succeeding. […]
With the advent of EVs, many new automotive companies were created to capture market share in the highly competitive and innovative industry. However, many of these new companies failed, such as Fisker and Lordstown Motors. Among the new companies, there have only been a handful of successes like Tesla and BYD. Between the failures and
Soon, many Walgreens stores are likely to disappear as Walgreens announced on Thursday that a “significant” number of its 8,600 stores will be closed to improve Walgreens’ position. Among these, the 25% that are unprofitable will likely be first on the chopping block, which means several hundred or perhaps even over a thousand stores could
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15 billion plastic air pillows. Hard to imagine right? Well, that’s the amount used by Amazon for shipping packages annually. However, that figure will be drastically reduced in 2025 as Amazon announced that it has replaced 95% of the plastic air pillows with paper and plans to completely eliminate it by the end of this
Often, the IRS only attracts most people’s attention when it’s tax season. However, the IRS is actively working on government programs and improving government finances, something seen very clearly this week. For example, the IRS has been cracking down on the Employee Retention Credit. The Employee Retention Credit was created in 2020 by former
The European Union’s Digital Markets Act, a piece of legislation preventing major technology companies from cornering their markets passed in 2022, has found its first victim: Apple. The EU has said Apple is in violation of the DMA because Apple prevents app developers from steering consumers to alternative channels, allowing Apple to maintain control of
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In 2018, a series of Tesla performance targets regarding share price and revenue goals were created for Elon Musk, with every target giving Musk the option to purchase Tesla Shares at $23 a share. In 2024, many of these performance targets have been achieved, which if undisrupted would allow Musk to purchase 303 million shares
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Amazon has traditionally been “the e-commerce giant”, but that position has been increasingly challenged in recent years by upstarts, mainly Shein and Temu. Those two Chinese companies have experienced massive growth by adopting a strategy of selling cheap products created in China and shipped directly to global consumers, particularly Americans. Their products are generally cheaper than
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The idea of buy now pay later(BNPL) companies is that they loan money interest free to consumers so consumers can purchase things. Afterward, consumers have to pay back the loans, but they don’t pay any interest. Instead, the way BNPL companies make money is through charging merchants a high % fee. Merchants accept if they
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Recently, Anthropic, the developer of the Claude AI family that is supported by Alphabet, Salesforce, and Amazon and that has raised $7.3 billion over the last year, has announced a new AI model: Claude 3.5 Sonnet. According to Anthropic, Claude 3.5 Sonnet… Is twice as fast and 5 times
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