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Retail Industry

Target Digital Sales Soar—Does This Mean Shoppers Will Not Return to Store?

Target’s soaring online growth suggests shoppers could be slow to return to physical locations when the malls and stores reopen. With fears still lingering, and habits changing, perhaps online shopping will remain #1 going forward? “As retail visits expand past essential retail like grocery and drugstores, other retailers, and malls in particular, need to be thinking of ways to inspire a sense of safety for consumers, and it will need…

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Tech Industry

Alphabet CEO Sundar Pichai Made $280 Million in 2019

Alphabet Inc. is the parent company of Google Inc. In 2019, Alphabet’s CEO Sundar Pichai made a whopping $280 million in compensation last year alone, according to a proxy statement filed by the company Friday. Alphabet CFO Ruth Porat and CLO David Drummond, who left the company on January 31st following a sexual-misconduct investigation, each made more than $47 million last year. Google co-founders Larry Page and Sergey Brin each made…

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Federal Reserve

Former Fed Official Recommends Taking Interest Rates Below 0%

Former Fed official Narayana Kocherlakota wrote an op-ed for Bloomberg Opinion on Friday, and the 56 year old economist’s article is getting a lot of buzz as he argues in favor of the U.S. central bank lowering interest rates to zero percent. “Terrifyingly high unemployment and potentially rapid disinflation are…

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Investment News

Trump Administration Bars Hedge Funds and Private Equity from Rescue Loans

The Small Business Administration and Treasury Department released new guidelines on Friday that states that hedge funds and private equity firms are “primarily engaged in speculative investments” and are therefore prohibited from applying for funds from the Paycheck Protection Program. It is not clear if any hedge funds have received funding prior to the new guidance.

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Corporate America

As States Request Federal Aid—Be Prepared for Corporate Bankruptcies to Surge

Lawmakers were quick to criticize a proposal by Kentucky Senator Mitch McConnel who suggested states could file for bankruptcy protection. States are facing massive fiscal challenges in the wake of the coronavirus crisis, which is shredding state budgets. The nationwide lockdown has forced many businesses to close their doors, or reduce operations, which is why we should expect to see “an enormous wave” of bankruptcies on the horizon.

SEE THE PROS & CONS TO STATES FILING BANKRUPTCY →

Automobile Industry

UAW Says Early May Restart of US Auto Plants “Too Risky”

UAW President Rory Gamble on Thursday issued a warning: Reopening auto plants in early May would be “too soon and too risky”, citing insufficient scientific data and asking for coronavirus testing to assure the workplaces in Michigan are safe. Game’s statements threw water on the plans of the Detroit Three to start bringing UAW workers back to vehicle manufacturing jobs on May 4. The longer the automakers cannot produce…

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Real Estate

Homebuilding Sees Its Worst Month Since 1984

U.S home construction in March endured its worst monthly decline since 1984 as housing starts fell by over 22 percent from the previous month, according to the Commerce Department. Homebuilder confidence was also pummeled, with one key indicator seeing the biggest drop in its 35-year history. Home construction stocks have reflected the weakness. Some market watchers…

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Fitness

This Fitness Brand Sees Its Stocks Pop as Gyms Remain Closed

Pelton shares finished Friday up more than 6 percent after the company announced it held its largest class ever earlier this week, with more than 23,000 people streaming it from home. Peloton stock is up more than 16% since January 1 as the coronavirus keeps gyms shut down and consumers at home still wanting to exercise. Pelton closed it’s retail stores to the public on March 15, but added it would…

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