What we consider newsworthy changes on a near-daily basis. Another 1000 point drop in the Dow hardly merits a Google trend today. When it happened a few days ago, the sky was falling along with shares of anything not called Amazon. Mercurial times, these.
The wild ride on the stock market continued on Thursday.
Source: Stocks take another tumble, Dow dives more than 1,000 points – ABC News
This should surprise absolutely no one, especially considering that a few years ago, Comcast tried to buy Disney.
Fans might be excited about the Walt Disney Company’s plans to purchase entertainment assets from […]
Source: Comcast Reportedly Considering Topping Disney’s Bid For Fox
Campbell’s Soup is closing its oldest Canadian factor and laying off close to 400 people.
The company blames over-production. Ana Dominguez, the company’s head of Canadian operations, said “Simply put, we are in a situation where we can produce a lot more soup than we can sell.”
The Canadian closing is a net win for three US Campbell factories (Maxton, N.C.; Napoleon, Ohio; and Paris, Texas) which will add jobs to meet the production void left by the closure in Toronto. Which doesn’t make sense if overproduction is the driving issue, but okay.
The company’s market cap has crumbled over the past year (see below). The Toronto Metro use notes that Campbell’s Denise Morrison thinks changing trends toward fresh fruits and vegetables and away from canned soups is part of the reason. It’s worth noting that this is happening at the same time that “bone soup” (also known as broth) is selling at a premium in little start-up kitchens and trendy new chains.
Are more people cooking simple meals at home? As badly as I feel for the laid-off Campbell’s workers, and I do, I hope the answer is yes. I don’t see much reprieve in the North American economy, even though Obama said the recession was over years ago and Trump says the booming stock market will lift all boats. I’ve seen some positive changes, certainly, and I’m sure you have, too. But one of the reasons fresh fruit and vegetables are once again on-trend (like he were for 100,000 years) is simple economics. They’re cheaper. Homemade broths turn chicken carcasses and beef bones into meals that stretch. Fresh vegetables are also healthier, and getting sick is expensive. Some research now indicates that homemade broths really do have long-attested remedial properties.
Given the shift in production south of the Canadian border, overproduction of canned soups can’t really be the culprit behind Campbell’s problems. Maybe they’ve been too slow to change with market demands. Or maybe the industrial food complex we’ve come to depend on needs serious re-thinking.
Best wishes, hopes, and prayers for the hardworking Toronto staff.
Chipotle Mexican Grill (CMG) is set to report second quarter earnings today.
While you wait, or while you wait in line at a CMG near year, play this fascinating little game the company rolled out exposing what it calls “faux” ingredients in the food of traditional fast food (that’s a thing, I guess) competitors. Oh, and you get a free burrito.
If we get rid of safety-orange highway nightlights, half the palette of my writing will be gone. With that said, LED is starkly more beautiful. Click through to see the picture of a street in Seoul that’s half LED-lit and half traditional interchange orange.
via Picture of the Day: One Side of this Street Has LED Lights «TwistedSifter.
I said yesterday that I believe Disney will buy Rovio, the maker of Angry Birds, sometime this quarter. Today, Mashable reports that Rovio is cutting 130 jobs, having staffed up for faster growth than has been realized in the past year.
Through its LucasFilm properties, Disney is already in business with Rovio in the licensing of Angry Birds: Star Wars. Now that Microsoft owns Mojang, Disney should solidify Rovio and leverage the Angry Birds characters across its content platforms.
Andrew Sullivan shares grim news you sort of already knew. But now there are numbers.
Mark Cuban doesn’t blog often, but when he does, it’s about the coming student-loan bust. Is he right about the bubble?
See also: Occupy, Mark Cuban, and Your Predatory Student Loans.