Why The U.S. Government Pays Lockheed Martin Billions
Lockheed Martin is the top grossing defense firm in the world and its biggest customer is the U.S. government. In 2018 alone, the government awarded Lockheed Martin with $37.7 billion in contracts. Here’s why Lockheed Martin is the defense darling of the U.S. government.
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Why The U.S. Government Pays Lockheed Martin Billions
December 07, 2019
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Why Did Forever 21 File For Bankruptcy?
Forever 21 has been practically synonymous with “fast fashion” and its massive stores have become a common fixture in America’s shopping malls. But the retailer is in trouble, Forever 21 filed for bankruptcy in September 2019. The brand is now closing hundreds of stores, as its clothes become more interchangeable with “cheap” rather than “trendy.”
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Why Did Forever 21 File For Bankruptcy?
December 07, 2019
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How America’s Love Of Cats And Dogs Became A $72 Billion Business
Cute puppies. Kittens. Instagram dogs. Pet supplements, a smart cat litter box and specialty veterinary practices. Americans are spending more and more on their pets. U.S. pet spending hit $72 billion in 2018, an increase of more than $3 billion from last year. And with pet ownership on the rise, the industry could grow into an even bigger business. Here’s how Americans’ love for pets turned into big business.
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How America’s Love Of Cats And Dogs Turned Into A $72 Billion Business
December 06, 2019
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Why GM Failed In India
Over the last 20 years the Indian automotive market has grown from about 500,000 new vehicles to 3.5 million in 2018. But some automakers have struggled to make it work. Among them is General Motors, the largest U.S. automaker. GM stopped selling cars in India in 2017, after years of declining market share. Watch this video to find out why automakers, including GM, struggle in India.
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Why GM Failed In India
December 04, 2019
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Why Ford Is Falling Behind In China
American cars are struggling in China, and it may only get tougher for automakers. One company that has seen its share of struggles in the Chinese market is Ford. The company arrived late to China, it had a less than an ideal partnership, and difficulty keeping up with the competitive Chinese market left Ford in the dust behind its rivals. The company said earlier in 2019 that it has a plan to catch up to its competitors.
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Why Ford Is Falling Behind In China
December 02, 2019
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How The Yield Curve Predicted Every Recession For The Past 50 Years
The yield curve was once just a wonky graph for academics and policymakers. But in recent years it has become a way to forecast looming recessions. The curve has helped predict every recession over the past 50 years. That means the curve accurately predicted even largely unforeseen downturns like the dot-com bubble of 2001 and the Great Recession in 2007.
As a result, news of yield curve inversions can now send markets tumbling. Policymakers keep a close eye on even small changes in the curve’s composition.
So how did this simple graph showing U.S. Treasury bond interest rates grow into one of the most reliable recession indicators we have? And what does a yield curve inversion really mean?
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How The Yield Curve Predicted Every Recession For The Past 50 Years
December 01, 2019
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Can Planting Billions Of Trees Halt Climate Change?
Trees are burning up around the planet at an alarming rate and impacting the climate. Now a new effort to plant as many trees as possible has taken hold around the globe. But will it mitigate climate change?
In California, 3 million acres have burned since 2017. And in Brazil, some 121,000 fires have burned since January — more than half in the Amazon rainforest.
The fires have cost the planet millions of trees, one of the Earth’s best defenses against climate change. Now a movement around the globe is trying to replace trees lost to fire and deforestation for agriculture or grazing.
In Ethiopia, the prime minister announced a new #GreenLegacy initiative that planted more than 353 million trees in 12 hours. Even YouTube stars are getting in on the act: More than 600 social media personalities recently raised over $16 million to plant trees worldwide. The effort was led by Jimmy Donaldson, a YouTube star who’s also known as MrBeast.
Reforestation is also a big part of the Paris climate agreement, which the U.S. recently abandoned at the behest of President Donald Trump.
But can planting billions and billions of trees really mitigate climate change? For that matter, is it even feasible?
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Can Planting Billions Of Trees Halt Climate Change?
November 30, 2019
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Can Big Tech Curb A Housing Crisis It Helped Cause?
Affordable housing has become a crisis on the West Coast, due in large part to the expansion of the tech industry. Cities like San Francisco, San Jose and Seattle have all seen rising housing costs with the influx of tech workers who tend to make much more money than natives who aren’t employed by a major tech company. This has prompted Amazon, Apple, Facebook and Google to chip in, but some community members are saying it’s too little, too late.
Affordable housing has become a crisis on the West Coast, due in large part to the expansion of the tech industry. Recently, these major tech companies have pledged money and support to curb the affordable housing crisis in their communities, but it has left some community members wondering if they're doing enough, and if it's too little, too late.
"We're being ignored." Liz González, a contributor at Silicon Valley De-Bug, voiced her concerns about the expansion of Google into San José. "We're being displaced, and folks who have no long term interests in this community get to decide what it looks like and who gets to live here."
The Bay Area, which includes major cities like San Francisco and San Jose, has the third largest population of people experiencing homelessness in the U.S. behind New York City and Los Angeles. Seattle comes in at number four in the U.S. In the Bay Area, 64% of those individuals are unsheltered, and in Seattle, 47% are unsheltered.
The growing number of tech workers created a housing shortage in the Bay Area, with an 8.4% increase in population and less than a 5% increase in housing units between 2010 and 2018. The increasing salaries of these tech workers created staggering housing prices, with software engineers making a starting salary of about $160,000 annually at Apple, Google and Facebook, 40% more than the national average for the same job. Rent prices in the Bay Area increased 21% from 2010 to 2017 when adjusted for inflation. For context, in the same time period, rent prices in New York City increased 9%. These were major contributing factors to the Bay Area's housing crisis.
"They're making it very difficult for people who's been here for a very long time to live here," explained Tamara Mitchell, a volunteer at the Coalition On Homelessness in San Francisco. Tamara has experienced homelessness due to the lack of affordable housing in the area. "It kind of feels like they're pushing you out of your home."
For U.S.-based tech-related jobs in 2018, Google employed 95% white or Asian individuals and 74% male-identified individuals, Apple employed 84% white or Asian individuals and 77% male-identified individuals, and Facebook employed 93% white or Asian individuals and 78% male-identified individuals. A high percent of these tech employees live and work in the Bay Area. However, according to estimated data from the Census Bureau in 2018, the Bay Area is home to 67% white or Asian individuals. Tech companies are disproportionately hiring white and Asian male-identified individuals for tech jobs, leaving lower-wage jobs for mostly black, Hispanic and Latinx individuals.
Google has pledged $1 billion to help stop the housing crisis. Facebook helped create the Partnership for the Bay's Future which will gather $500 million for the cause. Apple is giving $2.5 billion to the cause, and in Seattle, Microsoft is chipping in $500 million, while neighbors Amazon have opened a homeless shelter on their downtown campus. Amazon also says it's contributed $38 billion into Seattle's economy since 2010.
The affordable housing crisis in the Bay Area and Seattle is changing the landscape and makeup of the communities that fostered the tech boom. Companies like Apple, Google, Facebook and Amazon have stepped up to provide support, but some believe their contributions are more for the press than for the sake of the community. Regardless of their intentions, many West Coast communities are calling out for help as they tackle this state of emergency caused by companies created in their own backyards.
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Can Big Tech Curb A Housing Crisis It Helped Cause?
November 28, 2019
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Why Don’t We Have Self-Driving Cars Yet?
More companies are trying to bring self-driving cars to the masses than ever before, but a truly autonomous vehicle still doesn’t exist. It’s not clear if, or when, our driverless future will arrive. Where exactly are we with self-driving cars, and when can we expect them to be a part of our daily lives?
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Why Don’t We Have Self-Driving Cars Yet?
November 27, 2019
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Why Volvo Is Losing Its Big Lead In Safety
The name Volvo has been synonymous with car safety for decades. The brand has often been the first to introduce key safety features that are now common across the car industry. Safety, though, has become a bigger priority for consumers and automakers alike, and that's causing trouble for Volvo. Automotive technology has improved, regulations have tightened, and other brands are catching up. That's making it harder and harder for Volvo to keep its lead in car safety.
For instance, the Volvo XC40 comes with safety features like automatic emergency breaking, oncoming lane collision mitigation, lane keeping aid, and driver fatigue monitoring. Add-ons include a pilot assist semi-autonomous driving system, 360-degree parking camera, and blind-spot monitoring. Many other luxury subcompact SUVs like the Jaguar E-Pace and BMW X1 come with similar standard safety features.
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Why Volvo Is Losing Its Big Lead In Safety
November 25, 2019
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How Germany's Universal Health-Care System Works
Germany’s health-care system spends nearly half as much as the United States but still manages to cover 100% of its population through a mix of public and private insurance schemes. There are two different systems that residents can turn to for insurance in Germany: SHI, which stands for Statutory Health Insurance and PHI or Private Health Insurance. Here’s how they work.
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How Germany's Universal Health-Care System Works
November 24, 2019
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Why GM And Ford Are Worried About RAM
American automakers take their trucks extremely
seriously. And the ongoing battles for dominance among the Detroit three are often called the "Truck wars". Third place challenger Ram has made waves in recent years, snagging major industry awards and stealing market share from rivals. Watch this video to find out how this upstart is now posing a more serious threat to rivals than ever before.
Ram has gone from a third-place also-ran in America's truck wars to a serious challenger.
The Ram Heavy Duty pickup snatched industry publication MotorTrend's 2020 Truck of the Year award on Tuesday, giving Fiat Chrysler's pickup brand yet another award to add to its growing trophy collection. The smaller full-size Ram 1500 pickup won the same award for 2019.
It is a dramatic rise for a brand that many in the industry thought Fiat Chrysler was mistaken in creating in the first place. After the Italian automaker Fiat merged with Chrysler in 2009, management decided to spin Ram out of Dodge, allowing the former to focus on trucks and Dodge to focus on performance cars and a few other models with solid customer bases.
The move seemed dubious at a time as cross-town rival General Motors ditched some of its own brands. But Ram has roughly tripled sales over the last decade and appears to be taking market share away from rivals.
It has done so by giving up on going toe-to-toe with Ford and GM on towing and capability numbers and instead offering buyers a solid all-around truck with a plush interior and a lot of highly visible technology in the cabin. The move might have seemed like a risk of its own: truck buyers have traditionally been considered practical customers who often purchase their vehicles for work or other specific uses.
But the bet seems to have paid off both in critical praise and growing market share. Now analysts say GM and Ford are taking notice and may be making similar tweaks to their own lineups.
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Why GM And Ford Are Worried About RAM
November 22, 2019
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Do Airlines Make Money From First Class?
Delta Air Lines, United Airlines and American Airlines make a lot of their money at the front of the plane. A strong economy and industry consolidation has allowed the airlines, in recent years, to invest in more fuel efficient planes with better cabins focusing on premium classes. One focus has been rethinking business class. First class internationally and on some key domestic routes has become a hybrid of first and business class.
As of November 2019, if you wanted to book a first class round trip flight on Emirates from JFK to Dubai at the last minute it could cost you over $23,000.
Flying from New York to Mumbai? Etihad Airways offers a three-room luxury suite called The Residence which features a private bathroom, a private living room and a personal butler. Flying round trip on Etihad for that flight could be over $36,000.
And, for about $3,000, American Airlines Flagship First fliers can go from New York to Los Angeles with access to an exclusive check-in area and premium wines in the flagship lounge.
While the airlines make a significant amount of money packing people into coach like cattle, premium cabins like business and first class are still a major source of income for U.S carriers.
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Do Airlines Make Money From First Class?
November 21, 2019
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Why Did Uber Spend $3.1 Billion On A Middle Eastern Rival?
After Uber’s disastrous IPO, 2019 proved to be a rough year for the ridesharing giant. But there was one bright spot for Uber - its $3.1 billion acquisition of the Dubai-based ridesharing service Careem. Acquiring its former competitor gives Uber a major win in the Middle East and North Africa region, where Careem has gained a loyal user base thanks to its deep knowledge of the local market.
2019 was a rough year for Uber. First there was the disastrous IPO, where the company's share price declined straight out of the gate and never recovered. Then came a string of gigantic quarterly losses, leadership shakeups, and layoffs,further rattling investor confidence.
But a mere month and a half before things headed south, Uber announced a major acquisition, paying $3.1 billion for the Dubai-based ridesharing service Careem, giving many investors hope that the Middle East and North Africa could represent a major growth opportunity for the company.
Careem's deep knowledge of the local market has helped it gain a loyal userbase of 33 million, and allowed it to expand into 87 cities in 14 countries, including places like Iraq and Palestine, where Uber previously had no presence.
Now, Uber is projecting profitability by 2021. If it's going to get there, Careem and the greater Middle East and North Africa region may have an important role to play.
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Why Did Uber Spend $3.1 Billion On A Middle Eastern Rival?
November 19, 2019
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How Secure Is The United States Power Grid?
Cyberwarfare is the new weapon of choice for ransom attackers and nation states. And as the more than 9,700 power plants in the U.S. become more high tech, the ways in which utilities can be targeted increase. Still, experts say there are ways to mitigate the risk.
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How Secure Is The United States Power Grid?
November 18, 2019
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Why Isn’t White Castle A Fast-Food Giant?
White Castle is widely considered to be the first hamburger fast-food chain in the United States. It's famous for small, cheap hamburger sliders and its role in the 2004 stoner comedy "Harold & Kumar Go to White Castle." Despite its notoriety, the brand has a limited footprint in the Midwest and Northeast. So why is White Castle not nearly as big as rivals like McDonald's and Burger King?
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Why Isn’t White Castle A Fast-Food Giant?
November 16, 2019
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Why Spam Calls Are At An All-Time High
Robocalls are at an all-time high. On average, Americans received more than 2,000 robocalls every second in October, up 25% from the previous month. With 49 billion robocalls so far this year, all four major U.S. phone carriers now offer some form of blocking or screening service, such as T-Mobile's well known "Scam Likely" label. Congress and state officials passed new robocall regulations in recent months and have seen an uptick in successful cases against the scammers. Meanwhile, hundreds of tech start-ups are developing new ways to tackle the problem.
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Why Spam Calls Are At An All-Time High
November 15, 2019
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Who Makes Money From Bail?
When someone finds themselves in jail, they can often gain their freedom while they await trial by posting bail. But even small bails amounting to just $500 or $1,000 can prove unaffordable for many. In fact, 40% of Americans say they could not afford an unexpected $400 expense, according to the Federal Reserve. Bail bonds offer a way out. Bond companies will post bail for defendants in exchange for a fee of about 10-15% of the total bail amount.
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Who Makes Money From Bail?
November 14, 2019
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What Happened To The Hummer?
The Hummer was an angular, militaristic, go-anywhere truck that became an emblem of 1990s pop culture. General Motors' Hummer was a coveted status symbol sought by celebrities and a sometimes mocked and vilified example of how far of America's newfound love for SUVs had gone. But in 2009, GM put several of its brands to the ax, including Pontiac, Saab, and Hummer. While the Hummer had a brief lifespan of just under two decades, it made a lasting impression on the auto industry.
Clarification: General Motors ended Oldsmobile production in 2004, a few years before GM stopped producing the other brands mentioned at 8:05.
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What Happened To The Hummer?
November 12, 2019
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How Corporate Whistleblowers Make Millions
In 2010, the SEC launched a whistleblower program complete with a bounty for exposing fraud. Since the inception of the program, 66 whistleblowers have been paid $387 million for their contributions. Ted Siedle is one of them. He blew the whistle on JP Morgan Chase and in June 2019 he got the last part of $68M.
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About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
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Get the latest news: https://www.cnbc.com/
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How Corporate Whistleblowers Make Millions
November 11, 2019
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If you’re a younger sibling, get ready for some unwelcome news: Your eldest sibling is likely right when they brag about being the wisest. (And you can blame your parents for this).
Recent research shows firstborn children often outperform their siblings on cognitive tests. That’s because of the type of parenting they receive.
Firstborns tend to get more mental stimulations, since they receive the undivided attention of both parents.
That changes once baby No. 2 is in the picture, though. When there’s more than one child in the picture, parents find it more challenging to devote all of their attention to their younger children — especially since they're past all that first-time anxiety.
Older sibs, let the bragging begin.
Read more at the link in bio. (With @CNBCMakeIt)
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Twitter and Square CEO Jack Dorsey is moving to Africa – and it’s causing a lot of fuss among some of his companies’ investors.
But shareholders of one company are much happier about it than investors at the other.
Square analysts say Africa is “the future of payments.” The continent serves as an untapped and under-served market for the payment services company as African countries are still heavily cash-based. Dorsey also says Africa will help define the future of bitcoin – Square has leaned into cryptocurrency, launching its own crypto division earlier this year.
Twitter investors aren’t as thrilled, though. Dorsey’s absence could be a “lingering concern” if he focuses on initiatives like bitcoin – especially during a year “in which the company finds itself in the middle of the potential political firestorm,” said one expert.
Read more for what this could mean for Dorsey at the link in bio.
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The only person in charge of Oprah Winfrey is…Oprah Winfrey.
When asked if she would ever take her business empire public, her response was simple: No way.
“I like being able to have a say in what does or does not happen, and I don’t want to be controlled by anybody, or have to respond to anyone else’s ideas about what I should be doing,” she said.
The strategy has panned out extremely well for her, too. In 1986, she launched The Oprah Winfrey Show, which lasted 25 years and won her numerous awards. That same year, Winfrey founded Harpo Studios, the production company that’s been behind everything from daytime TV shows, including Oprah’s own show, to feature films such as “Selma.” She also co-founded Oxygen Media and is CEO of the Oprah Winfrey Network (OWN).
Read more at the link in bio. #investinyou (in partnership with @acorns) and (with @CNBCMakeIt)
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If there’s one thing that Instagram has shown us, it’s that the world is filled with natural wonders.
The downside? There are few geological secrets anymore.
Take Norway’s now-famous Trolltunga. The natural rock formation sits 2,300 feet above the Ringedalsvatnet lake and is a gorgeous place to take a photo. Most photos on the surface make people appear as if they’re in complete solitude.
But widen the frame a bit and you’ll see that’s not the case at all.
The location’s internet popularity has caused a lot of tourists to stop by for a photo – and they have to wait. The longest lines often result when good weather follows a long period of rain, when the average number of visitors increases from 800 to 2,000 per day. That means you could wait up to 90 minutes just for one photo opp.
Read more at the link in bio.
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Learning English as a second language? Maybe learn to code instead.
According to Apple CEO Tim Cook, it’s more important to learn how to code.
“If I were a French student and I were 10 year old, I think it would be more important for me to learn coding than English. I’m not telling people not to learn English in some form – but I think you understand what I am saying is that this is a language that you can [use to] express yourself to 7 billion people,” Cook said.
And he may be onto something. Studying coding can increase you chances of making a higher salary, as more than a third of the highest paying jobs in the U.S. now require some familiarity with computer programming.
Read more on the CEO’s comments at the link in bio. (With @CNBCMakeIt)
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David Solomon is no average CEO.
Yes, he made $23 million last year, but since taking the helm at the investment bank from Lloyd Blankfein in October 2018, he’s eschewed Wall Street’s stuffy ways.
Known as “D-Sol” on weekends, Solomon performs as a classic rock DJ at nightclubs in New York City, Miami and the Bahamas (think Guns N’ Roses and The White Stripes).
Solomon also prefers to fetch his own coffee at the office and rides the New York City subway to work. “I mean, why wouldn’t you take the subway?” he asked.
Read more on the CEO’s life at the link in bio. (With @CNBCMakeIt)
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It’s been a pretty busy 10 years for IPOs.⠀
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2019 caps off a decade that’s seen more than 1,800 companies make the transition from public to private – a nearly 11% increase compared with the prior decade.⠀
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The types of companies the came to the market changed, too. Back in the 2000s, the five biggest IPOs of the decade were Visa, AT&T, Kraft Foods, Infineon and China Unicorn. This year, tech companies mostly took the lead: Alibaba came in at No. 1, followed by Facebook, General Motors, Uber Technologies and HCA Healthcare.⠀
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See why these companies were the top IPOs of the decade at the link in bio. (With Grow)
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Is the global economy in for “significant recovery” next year? UBS Global Wealth Management says so.
The firm says as the trade war between the U.S. and China eases and the monetary policies from central banks come into effect, the economy will make a comeback in the second half of 2020 – particularly in the fourth quarter.
“We see that the U.S. economy has actually slowed down and we see a relatively good chance that there may be a first phase deal and maybe the December tariffs get pushed out or actually even removed. That should be good enough for the economy to slowly recover,” one expert said.
Read more at the link in bio.
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Do you know exactly how much you’re worth? Elon Musk doesn’t.
The Tesla and SpaceX CEO testified in a defamation lawsuit filed by Vernon Unsworth, the British caver whom Musk called a “pedo guy” on Twitter, that his value fluctuates on a daily basis.
He said he owns stock in Tesla and SpaceX and has debt against that stock, but he does not have a lot of cash. Asked if $20 billion was a reasonable estimate, Musk said he didn’t know, but “I think SpaceX and Tesla stock probably amount to that.”
Read more at the link in bio.
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The use of robots in U.S. workplaces has more than DOUBLED since the Great Recession.
But the impact has hit certain areas of the country – and segments of workers – way more than others. Nationwide, there are about 0.34 robots per every 1,000 human workers, according to The Century Foundation.
Cities like Los Angeles squash that number, though. In the Los Angeles-Long Beach-Santa Ana area, there’s 6.91 robots for every 1,000 workers. 👀
To see how many robots per worker there are in your city, visit the link in bio. (With @CNBCMakeIt)
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$8.53 per share.
Potentially $25,600,000,000 in fundraising.
A $1,700,000,000,000 valuation.
Saudi Aramco just priced its IPO shares at the top of its indicative range – which would make the state-owned company’s public debut the largest on record. (That means it’ll top Alibaba’s IPO, which raised $25 billion in 2014).
But while Aramco’s IPO may be at the top of the range, the $1.7 trillion valuation is well short of the Crown Prince’s initial valuation of $2 trillion. The kingdom needed to rely predominantly on local investors after canceling roadshows in London and New York on the back of lackluster international interest.
For more details on this potentially monster IPO (which was originally scheduled for 2018), visit the link in bio.
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Facebook is sitting on $52 billion. 💰
But so much of Washington is mad at the social media giant that the heat may be too much for the company to make big acquisitions the market would normally expect.
“There’s a real political constraint to their ability to do stuff,” said one expert. “Big tech companies have let their cash piles grow and grow and grow.”
The growing cash pile at Facebook begs the question: Is Mark Zuckerberg – who could well be tired of the fuss that comes with running a public company and already owns a large stake – planning to take the company private?
Get more details at the link in bio.
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