This week, Oregon Health & Science University (OHSU) informed its staff that they would be laying off 500 or more people in the next 90 days. The announcement, made through a letter sent to employees on Thursday, cited increasing costs of supplies and labor as major contributing factors in their decision-making process. Although the exact…
In a landmark move, the California $18 Minimum Wage Initiative has officially qualified for the November 5, 2024 ballot. This initiative, if passed, would incrementally raise the state’s minimum wage to $18 per hour by 2026, with subsequent adjustments based on the cost of living. This proposal has garnered significant support, with a recent poll…
The first week of June marked significant job cuts at two major IT giants, Google and Microsoft, as the wave of layoffs continued in 2024. Google announced the layoff of approximately 100 employees in its Cloud unit, while Microsoft reportedly cut over 1,000 jobs across various divisions. At Google, the layoffs targeted the Cloud unit,…
Amidst skyrocketing home prices in the U.S., a recent court case in Kansas City has spotlighted a hidden factor: realtor commissions. The verdict, totaling $1.8 billion in damages, revealed how the National Association of Realtors (NAR) and major real estate companies artificially inflated brokerage commissions. At the core of the issue is how commissions are…
Keith Gill, known as “Roaring Kitty” on YouTube and “Deep@#$!Value” on Reddit, made a notable return with a livestream addressing GameStop’s recent turbulence, marking his first public appearance since the meme stock frenzy three years ago. The stock was down today by 40% at publication time. During his livestream, Gill reiterated his confidence in GameStop’s…
The race to produce a $25,000 electric vehicle (EV) in the U.S. has concluded, but not as expected. Hertz, a well-known car rental company, has been selling off a large portion of its Tesla fleet, totaling around 20,000 vehicles. This shift highlights a change in the EV market, with consumers in 2024 not adopting electric…
In recent years, a disturbing trend has emerged in the restaurant industry: a growing number of establishments are shutting their doors, not due to a lack of customers or poor culinary offerings, but because of soaring real estate costs. As lease rates escalate at a pace far exceeding revenue growth, even beloved local favorites and…
If McDonald’s iconic Golden Arches seem a bit dimmer in Europe today, there’s a reason. The EU General Court has ruled against McDonald’s in a case over its Big Mac trademark. This decision came after a long legal battle with Irish competitor Supermac’s. The Big Mac, which has been a staple on McDonald’s menu since…
Toyota is recalling over 100,000 pickup trucks and Lexus SUVs in the U.S. due to potential engine debris that could cause the vehicles to stall. This recall affects certain 2022 and 2023 Tundra trucks and Lexus LX models equipped with the V35A six-cylinder engine. The National Highway Traffic Safety Administration (NHTSA) explained that debris from…
Investors who jumped at the chance to buy shares in Warren Buffett’s Berkshire Hathaway at a seemingly unbelievable discount yesterday are in for disappointment. A technical issue on the stock exchange has led to the cancellation of these trades. On June 3, a data glitch caused the stock price of the global conglomerate to plummet…
