Rumeurs of My Death Are Greatly Exaggerated |
La Rumeur is a double cream, Brie-style cheese made in Canada, named after the 'rumour' that a Quebec governor was beheaded and burnt by an indigenous tribe in retaliation for falling in love with one of its young women. It has nothing to do with Fleetwood Mac, thank God, but it's aged to perfection, and pairs well with a Californian Zinfandel — just like this newsletter! Today's cheese pun references something Mark Twain once wrote in a letter to a newspaper reporter who asked about rumors of his death. It's appropriate because you only live once, and our cheddlines today include a categorical reason for Why You Should Ask For A Raise Today. Also: Carpe Brie-em! —Matt Davis, N2K Chedditor P.S. We've got video of a Tesla Rave on the 'gram! |
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"You have to be really careful with your brand as a CEO. And if Elon alienates Tesla buyers, if he alienates people who want to buy environmentally sustainable cars, that's going to be a problem for his business model, just like it's been a problem with him at Twitter." — Tevi Troy |
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1. Why You Should Ask For A Raise Today |
The best way to get a pay rise from your current employer is to get a better salary offer from somewhere else. You hang around there waiting for your boss to do the right thing? You'll be falling behind. Still, now could be a good time to negotiate for a raise, according to a new report from The Conference Board — it's a nonprofit that counts over 1,000 corporations as members. Its latest salary survey says CFOs are budgeting for a 3.9% increase in salaries next year.
It's a tight labor market, and companies want to retain their workforces. You know how they do that? Give them a raise that's just big enough to prevent them spending the extra energy to find a better-paying job elsewhere. With the Great Resignation trend losing momentum and reduced employee turnover since 2022, employers are expected to offer more promotions, higher compensation, and adjust role responsibilities to try to hang onto people for longer. Performance-related initiatives are also becoming more prevalent as companies move away from salary increases tied directly to base pay.
Pay transparency laws have also had an effect, with many corporations planning to address pay equity in their 2025 compensation efforts. In other words, they've been paying people unfairly forever. Now they can't get away with it anymore. Over half the companies surveyed by The Conference Board intend to allocate budget from merit increases to fund pay equity initiatives (and it's about time, too). Read More |
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2. What's the Most-Reviewed Business on Yelp? |
Yelp has over 287 million reviews for restaurants, retail, and more. That's a lot! Yelp trend expert Tara Lewis joined us to celebrate the company's 20th anniversary.
"The most popular business listing on Yelp of all time is the Metropolitan Museum of Art," she said. "There are over 3,500 reviews written about the museum on Yelp and over 22,000 photos added to it."
I'm sure they need the extra attention! Number two is Balboa Park in San Diego with its beautiful botanic gardens. The most photographed business of all time is Disneyland. "So, it's not only the happiest place on earth, as people might say, it's also the most photographed business listing on Yelp as well," Tara said. I, personally, wouldn't describe Disneyland in those terms. But I'm glad to hear that you're all sticking so many photographs of the place on the Internet because it gives me yet another reason to add to my lengthy list of reasons never to bother showing up there in person.
The most popular restaurant on Yelp is Gangnam, an Asian BBQ restaurant in Las Vegas. I have been to Las Vegas once, and that was enough for a lifetime, so I guess they're going to miss out on my business, too! But Yelp is good for reviews and lots of 'em! Read More |
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| Tesla rave, anyone?
Recently, a fleet of Cybertrucks lit up the streets of Las Vegas with a synchronized light display, leaving onlookers in awe.
The impressive footage from Vegas was posted on X by Simon Pollock (née Tesla Light Shows), a Tesla enthusiast known for sharing videos of Tesla vehicles. |
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3. American Eagle's Success: Jean-etic? |
We spoke with American Eagle CMO Craig Brommers about 30 years on the New York Stock Exchange. The firm's stock started at 88 cents in the 1990s, and it's worth $19 today, which is about a 2000% increase. That's a pretty good ride for a company that makes jeans!
"Today we're a $5 billion business. We think in the next few years we could be a $10 billion business," he said. "We are literally the number one seller of jeans in America to women of all ages and the dominant force in terms of jeans for Gen Z."
"When you have that best-of category, especially for such an American staple, you can command some price dominance in the marketplace," he said. "I think the second thing that we have really evolved into is it's not a customer relationship anymore. It's almost a customer partnership. We've vastly expanded our loyalty program. We're highly active on social media. We have 40,000 store associates that help people get into the clothes that make them the most confident."
The firm is investing heavily in Tik Tok. "When something goes viral on that platform, it truly affects our top line," he said. "I always get the call from our chief digital officer of 'hey, this thing is selling fast.' It must have been on Tik Tok."
The firm's collabs with tennis player Coco Gauff and NFL quarterback Trevor Lawrence have also boosted their business. "These are athletes that are setting the tone for culture, and it's really been fun to work with them," he said.
The firm has also learned to be nimble and flexible with Gen Z as a target audience because trends move "so darn quickly," he said. Gen Z's values are strong around "self-expression, community, and inclusivity." One of the firm's sister brands, Aerie, is the very first to market itself with no retouching of photographs for its models.
"I believe that retail is actually not about retail anymore," Craig said. "Retail is an entertainment business, and we're battling for mindshare of consumers just as much as we're battling for their credit card. So, we build out story arcs throughout a season, almost like a TV show. And of course, we give ourselves some flexibility. But the reality is, we are developing almost 500 pieces of content every single week."
Sounds familiar. Watch Now |
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4. Why Elon Musk's Trump Endorsement Could Be Bad for Business |
We talked with Tevi Troy, author of "The Power and the Money: The Epic Clashes Between Commanders in Chief and Titans of Industry". It's out now! Tevi, who served as a White House aide under George W. Bush, had a good look through the history of CEOs beefing with and kissing up to presidents.
"Elon Musk is clearly impulsive. He went on Saturday Night Live and said 'I rebuilt the electric car, and I'm sending people to Mars.' Did you expect that was going to be a normal, chill dude? And he's not. He's just different," he said. "He's chosen the side in this election, and that often, as I show in my book, does not work out well for CEOs."
Oh really, like how, Tevi?
"I talk about Henry Luce, who was the founder of Time magazine, and he hated Franklin Roosevelt, was constantly dumping on Franklin Roosevelt, try to get him defeated. But Roosevelt won four times. And then later, when Eisenhower is running, he goes all in for Eisenhower. So, all out on Roosevelt, all in on Ike. And both didn't work out well for him because FDR disliked him and froze him out of things. Then with Eisenhower, the overwhelming support that Lewis had for him, it kind of made people wonder about Time magazine."
So, is Elon Musk being foolish by endorsing Donald Trump, or what?
"You have to be really careful with your brand as a CEO," Tevi said. "And if Elon alienates Tesla buyers, if he alienates people who want to buy environmentally sustainable cars, that's going to be a problem for his business model just like it's been a problem with him at Twitter." Watch Now |
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5. Did Amazon Mandate a Five-Day Office Return to Get People to Quit? |
Amazon will enforce a new policy requiring its corporate employees to work from the office five days a week starting next year. The policy toughens an earlier mandate that required three days of office work. CEO Andy Jassy said the decision is based on enhancing invention, collaboration, and connection among employees. It comes as Amazon and other tech companies assess the impacts of remote work policies implemented during the pandemic.
In contrast to the hybrid models adopted by some, Amazon's stance is more rigid, reflecting a move away from remote work despite the challenges of COVID-19. Amazon's decision sparked discontent among some employees, particularly those who see value in the flexibility of working from home, such as women with childcare duties. I guess Amazon hates working mothers?
What's particularly annoying about this change is that it seems like the company is just being a jerk to encourage people to quit. It aligns with a "larger organizational restructuring" at Amazon, aimed at increasing the ratio of individual contributors to managers and potentially eliminating roles a.k.a. instead of thinking smartly about remote work and offering more flexibility, the company has just decided to be nasty. I'd cancel my Amazon Prime subscription and all the TV shows I watch through its streaming service, but I sorta can't be bothered. And I guess that's what Amazon is counting on to push through this move. I hate it when my so-called principles are trumped by my laziness. Read More |
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