Fast-food workers are calling for nationwide strikes on Thursday to protest low wages. And management and customers alike have every reason to tell them to pound sand.
In what is probably the least inspired labor action since the great Detroit Symphony Orchestra Picket Line of 2011, groups such as the Service Employees International Union, Fast Food Forward, and Fight for 15 are calling for nation-wide wage strikes targeting McDonald’s, Burger King, Arby’s, and other latter-day Dickensian workhouses. On Thursday, protesters in over 100 cities will stand outside of fast-food joints and call for doubling the wages of burger flippers and fry-vat operators from $7.
Give the gift of light this year! You may look like a Scrooge at first, but your present will be paying dividends for years to come.
My bright idea for a high-tech gift for this holiday season is actually a 19th century invention: a light bulb.Most people would regard a light bulb in their stocking with the same enthusiasm with which they’d greet a lump of coal. But they shouldn’t. For this year, when you give the gift of an expensive, highly-efficient, LED, you’ll be bringing light—and an annuity that could pay out a couple hundred dollars of dividends over the next decade.
For 29 cents at Walmart.
It is reassuring that this probably means Americans take a lot of showers. The most popular items at Walmart on Black Friday were towels. Yes, towels. Almost three million towels were sold from 6 p.m. on Thanksgiving through Black Friday, compared to 300,000 bicycles, 1.4 million tablets, and two million televisions. In fact, sales of towels this year outpaced last year’s by 1 million. "A lot of people are either hosting guests for the weekend or preparing for guests for the holiday season," said Walmart spokeswoman Deisha Barnett. The internet was full of videos of people fighting to get their hands on towels (which at $1.74 for a six pack, were $.29 a towel), with one showing a police officer having to hold shoppers back.
Frank DiPascali, a 33-year employee of the firm that ran the largest Ponzi scheme in recent history, took to the stand to testify against his former colleagues.
Frank DiPascali, the Bernie Madoff henchman who won the role as the star witness in the biggest fraud case in American history, torched five of his former colleagues with his testimony Monday in federal court. Perhaps more important, DiPascali is the first witness to demolish the myth that Bernard Madoff ever had a legitimate investment advisory business. The star witness also pulverized Madoff’s assertion that he had acted alone in constructing the biggest Ponzi scheme in history as he began implicating the five Madoff employees whose defense essentially is that they too were duped by Bernie and did not realize they too were committing fraud.
The White House says the troubled HealthCare.gov has been fixed—but what about the marketing campaign that’s causing the Obamacare death spiral? First you have to motivate millennials.
So what’s the biggest problem with Obamacare right now?The botched website?If only.According to Obama administration officials, that has mostly been fixed. The more worrying issue threatening the Affordable Care Act is the marketing of the new legislation to those most crucial to the plan’s viability—the young and healthy, or as the health-care industry refers to them, the “young invincibles.”So far, the advertising that’s targeting the under-35 market has been abysmal.
Jeff Bezos says an unmanned aircraft could be dropping books at your door in five years. But he glossed over the huge legal, technological, and ethical hurdles in his way.
Amazon CEO Jeff Bezos’s announcement that his company is exploring the option of delivery drones was an early Christmas present for members of the unmanned aircraft systems community—or UAS as they’re called among advocates.“It’s really valuable to [us] that such a big player as Amazon is entering this arena,” said Matthew Schroyer, founder of the Professional Society of Drone Journalists, an organization dedicated to helping develop UAS systems for reporters.
Black Friday wasn’t a bust—shoppers spent about as much as they did in 2012. But until big retailers pay employees more, they shouldn’t expect a real boom in holiday sales.
Judging by the first returns, the big holiday shopping season was something of a disappointment. According to the National Retail Federation, shoppers estimated that they would spend about 2.7 percent less over the 2013 Thanksgiving shopping weekend than they did in 2012.We shouldn’t draw too many conclusions from this widely quoted data point. To begin with, NRF’s number is an estimate based on what consumers said about their intentions, not an actual measurement of sales.
From the man driving the art world madness to J. Crew’s attempt to conquer the United Kingdom, The Daily Beast brings you the best in business journalism from the week of November 30, 2013.
The Man Who Sold the Art World Nick Paumgarten – New YorkerThe recent sale of a Francis Bacon triptych for $140.2 million had a lot of tongues wagging, but even more heads shaking. How is art, and 20th century art in particular, being valued at such astronomical values? The answer may be the work of one man--David Zwirner.America’s Least-Favorite City Has Become Television’s Favorite Subject T.A. Frank – The New RepublicDenigrating Washington, DC in a political speech is as ubiquitous nowadays as “God Bless America.
The master nerds who rule the Valley are talking about ditching the rest of us and heading for the hills. But they’ll only be the first—‘Real America’ faces a brain drain.
Day in and day out, the message from the media is the same. Your country is becoming a nightmare. However you can, get out—and do it now, before you’re trapped.From Saul Alinsky to Sarah Palin, the view of the problem is also the same. Society has been divided into Elites and Real People. But the situation now seems so dire that instead of achieving transformative change, many of us are simply opting to flee into dreams—of a post-revolutionary paradise, or of traditional times restored.
Employees forced to work on ‘Black Thursday’ for low wages aren’t the only ones having a grim holiday—Walmart’s miserly ways are part of the downward spiral of its business model.
“We don’t call it Black Friday, we call it Black Thanksgiving,” said Michael Ahlef, 22, a Walmart cashier who said he was willing to risk arrest at a protest in Minneapolis because he was so desperate for the company to introduce a living wage. “They’re going to have to start listening to us soon,” he told The Daily Beast.The action was one of many protests and events that organizers were planning in more than a dozen cities, including Los Angeles, Chicago, the Bay Area, Seattle, Dallas, Sacramento, Miami, Minneapolis, and Washington, D.
With an Ohio Walmart hosting a holiday food drive for its own workers, The Daily Beast's Michael Tomasky criticizes the notoriously stingy company for not paying them more.
The ’60s TV comedy took the ‘situation’ in ‘sitcom’ to dizzying heights, but who knew back then that the show was also subversively and delightfully feminist?