It's Moringhello in America |
Moringhello, as we all know, is a semi-soft, full-fat buffalo milk cheese made in Bergamo, Italy with deep grooves. Like this country's election results, it's placed overnight in a hot part of the factory to help develop its tangy flavor and chalky texture. It has a grassy, acidic center and a dry, clean rind. "Morning in America" was a political slogan used by Ronald Reagan in his successful campaign to unseat Jimmy Carter back in 1980. Meanwhile, our cheddlines today are apolitical on the basis that we still don't know the outcome of the election, and the next few days are bound to provide a deluge of information. On that basis I thought you might like a nice cheesy break from election news to consider some other important stories before you plunge back into the democratic maelstrom: I'm not nostalgic for Ronald Reagan's presidency. I think it might have something to do with his removing the solar panels from the White House roof in 1986 and his administration's bungling (because that's a slightly nicer word than "genocide") of the AIDS crisis, although those are just a couple of my salty beefs. I did enjoy John Travolta dancing with Princess Diana at a White House party in 1985. That's a vivid memory, but it has very little to do with the politics of the people in charge and more to do with those two making an exceptional couple on the floor. Perhaps there's a lesson for us all in that? No? Probably not? Okay. Cheese out! —Matt Davis, Need2Know Chedditor P.S. We've got a virtual reality waterpark on our Instagram. |
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"If you're saving money, I'll give you a pat on the back right now. It is a prudent thing to do." — Callie Cox |
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1. More 'Black Jobs' Regardless of The Election Result |
Black voters have been a key demographic in the recent election, and the NAACP has just launched a $200 million venture capital fund that will invest in startups and fund managers that are focused on closing gaps facing communities of color. It sprang out of their recent #KeepAdvancing campaign.
"We know that there's been unrest, social justice-wise, all across the country," Trayvon Williams, who leads marketing for the organization, said. "And for a period there, our nation collectively blinked and we unified. But as is the case with many things, life went on. People got back to their normal lives. 'Keep Advancing' is an opportunity to reengage many partners and allies from all across the country who are taking action on behalf of the communities that continue to be marginalized and impacted."
"NAACP Capital will be a fund that invests in managers of startups as well as charters themselves focused on closing the gaps that these communities of color experience in underserved communities," Jay Lundy, the organization's managing director, said. "We're going to raise $200 million. And what's truly important about this effort is while we are focused on generating returns, we have a huge opportunity to impact the venture ecosystem, which has long excluded Black entrepreneurs and business owners of color."
No matter what happens at the polls, the organization feels now is a good time to launch the initiative.
"The NAACP is a trusted voice within the Black community and really amongst our allies serves as a great opportunity to say no matter what happens at the ballot, we have a plan for advancing our communities and we want allies and partners alongside that," Jay said. Read More |
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2. Are Employers Afraid to Hire Gen Z Workers? (Yes, Obviously) |
One in six hiring managers say they're hesitant to hire Gen Z, said Huy Nguyen from Intelligent.com (and the other five are just scared about you suing them if they're too honest).
"The top reason has been a lack of motivation and initiative and a lack of professionalism," Huy said. "Some of the hiring managers feel that Gen Z, as they're entering the workforce, is entitled, and they're easily offended, or they haven't experienced hard work or challenges."
"Gen Z has had a lot of accommodations made for them prior to entering the workforce, and some of that is being carried over into the workplace," Huy added, presumably related to Gen Z's parents saying they love them. "Gen Z, as they go into the workplace, they're also trying to bring some of their own personal values there. They're looking to not entirely drop their values or their personality as they go into the workforce."
What's the answer to hiring Gen Z without fear?
"Companies really need to recognize that Gen Z is not going away, and in the future, you're continuing to hire more Gen Z," he said. "I wouldn't say that you need to accommodate everything that Gen Z is asking for as they come into the workplace, but I think it's ultimately about respect."
Got it. And pronouns! And blue hair! And TikTok! Read More |
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| Would you dive into a VR waterpark? 🌊
Ballast Technologies specializes in virtual reality experiences for waterparks, featuring raft waterslides, snorkeling, and more, available in 45 locations worldwide. |
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3. Boeing Workers to Return to Work as Strike Ends |
Gen Z aren't the only ones who come to work with a healthy sense of entitlement. 59% of Boeing's union workers approved a new contract, including a 38% raise over the next four years and a $12,000 contract ratification bonus.
Although the agreement does not restore the traditional pension plan lost in 2014, it improves 401(k) contributions. Boeing, facing significant losses from halted deliveries and broader economic impacts, welcomed the workers' return.
The company has suffered deep financial issues, compounded by a grounding of the 737 Max after two fatal crashes. The cost of the crashes and the strikes to the U.S. economy is estimated to be around $11.5 billion. Read More |
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4. Could Millennials Be Saving Too Much? |
Yes, but in cash. Now to the previous overly criticized generation: they need to stick that money in the stock market, Callie Cox at Ritholtz Wealth Management explains.
"Some people would argue that this is actually prudent," she said. "And you know what? If you're saving money, I'll give you a pat on the back right now. It is a prudent thing to do."
"But millennials are falling into this trap of saving too much money…" into cash "and not investing enough in the years where they should be investing and reaping the rewards of compounding interest," she said.
The average millennial is 36. If you joined the workforce 15 years ago in 2009, "that was the beginning of a ten-year-plus bull market that led to the S&P almost quadrupling. So, if you've been saving cash over that time, as many millennials have, then you probably do have a hefty savings account, but you missed out on this incredible bull market. And that was a big phase of your investing journey that you just didn't participate in."
If you'd stuck $10k in an S&P index tracker in 2009, you'd have $80,315 today. Meanwhile, if you put it in a cash savings account with an interest rate of 3%, you'd have $15.5k today. On this basis, I know where I'd rather stick $10k. #NotFinancialAdvice Read More |
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5. Retailers Expect A Lean Christmas |
Looks like Tiny Tim may be eating thin gruel this Christmas if Mr. Scrooge has anything to do with it. That's because, facing a lukewarm holiday season, major U.S. retailers are importing significantly fewer Christmas goods compared to previous years.
The National Retail Federation predicts a modest holiday spending growth of 2.5–3.5% for 2024, the slowest since 2018. Retailers are also expected to hire fewer seasonal workers during the holiday months compared to last year. Overall, U.S. companies have imported 22% less Christmas merchandise by weight this year compared to 2022. Economic analysts and retail consultants suggest that stretched consumer budgets and a desire to maintain lean inventories are key drivers behind the cautious ordering.
Walmart's imports of Christmas products have dramatically dropped from 1.9 million kilos in 2022 to 340,000 kilos in the year leading up to September 30, 2024. This reflects a conservative approach in anticipation of subdued consumer spending on discretionary items, analysts say.
I would still like a lot of very expensive Christmas presents, please. Read More |
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