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A majority of U.S. businesses are hiking prices at a rapid clip as they seek to offset the pain of soaring inflation and a lack of available workers, according to a survey of American CFOs published on Thursday.
The CFO Survey, a collaboration of Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta, shows that finance chiefs are increasingly worried about labor availability, inflationary pressures and supply chain disruptions. READ MORE
Businesses are on a hiring spree during the Great Resignation of 2021, with many throwing out signing bonuses, lowering their standard qualifications, tapping boomerang employees and taking a harder look at their “enthusiastic stayers.”
As retention efforts heat up, you’ll probably hear more about the “stay interview.” READ MORE
The year is 2041, and Starbucks has real competition. Black Rifle Coffee Company, the java brand favored by conservatives, has opened thousands of locations around the country.
Starbucks, whose longtime chief executive Howard Schultz pioneered a new wave of liberal corporate activism in the early part of the century, still dominates the coffee scene in college towns and blue-state urban centers. But Black Rifle Coffee, now publicly traded with a $250 billion valuation, is flourishing in suburbs across the country and in cities large and small across the Deep South and Mountain West. READ MORE
Today we stand at the precipice of not one but three converging and potentially catastrophic long-term trends: climate change, globalization, and growing inequality. On their own, each of these makes the occasional crisis worse: We might see a more destructive hurricane, a more widespread financial meltdown, or longer or more violent civil unrest. Together, though, these trends magnify challenges. The Covid-19 pandemic, for example, was not just a health crisis but an economic and political one as well. READ MORE
Reports of the so-called Great Resignation may have been exaggerated.
Over the past several months, a rapidly growing number of Americans left their jobs — more than 4.4 million in September, the most recent month for which data is available. READ MORE
The "Great Migration" may not be as pronounced as once thought.
The US Census Bureau this week released data showing that migration activity has fallen to its lowest rate in more than 70 years. The findings toss some cold water on anecdotes that Americans were relocating more than ever during the pandemic. READ MORE
Americans are quitting their jobs in droves. In what has been dubbed “The Great Resignation,” workers are leaving their current positions in search of greener pastures.
Companies hoping to retain such employees might offer them a raise. But as it turns out, there is something workers want even more than a simple pay hike. READ MORE
A record number of Americans are quitting their jobs and businesses are desperately struggling to fill open positions. Target doesn't have either of those problems.
Target (TGT) said Wednesday that its turnover rate for hourly workers was lower this year compared with 2019, even after accounting for new hires. The retailer is also adding 100,000 new temporary employees to meet holiday shopping demand and offering its existing workforce five million additional hours of work during the busiest stretch of the year. READ MORE
Strategic partnerships are always a smart way to grow your business faster and expand into new markets. Even smarter is to look beyond conventional or expected opportunities. To create entirely new products, keep employees happy, or achieve ambitious long-term goals, it pays to get creative about whom you team up with--and even to look far afield of your own industry.
Here are four pairs of companies that recently reached outside of their sectors to build mutually beneficial partnerships. READ MORE
In the search for workers in this tight labor market, companies have courted new hires with the promise of higher wages, sign-on bonuses, ample vacation time, and childcare.
The latest: "No vaccine required." READ MORE
Breaking up is the newest craze for ginormous global companies. Johnson & Johnson, Toshiba and GE announced plans to split into multiple entities this week. The trend may have only just begun.
Conglomerates are big and unwieldy. Wall Street hates them, because it doesn't know how to value them properly. CEOs and corporate boards are finally getting the message: Nimble is the new big. READ MORE
Tesla co-founder and CEO Elon Musk slammed the company’s co-founder Martin Eberhard on Twitter on Friday, calling him the "worst person" he’s ever worked with and accusing him of nearly "killing Tesla."
"Founding story of Tesla as portrayed by Eberhard is patently false," Musk tweeted Friday. "I wish I had never met him. Eberhard is by far the worst person I’ve ever worked with in my entire career. Given how many people I’ve worked with over the years, that’s really saying something." READ MORE
Three weeks ago, “someone” floated the idea of PayPal buying Pinterest. PYPL plunged 5% the next day (shedding the value of Under Armour) and the company then denied the rumors. Our thesis: PayPal’s management leaked the story as a trial balloon, and let it float away when the market threw up on the notion of PinPal (couldn’t resist). READ MORE
Rivian, the electric vehicle maker backed by Amazon (AMZN) and Ford (F), made its Wall Street debut on Wednesday, surrounded by mania that befits a market that appears to be defying gravity.
What's happening: The company priced its stock above the expected range at $78 apiece, allowing it to raise an estimated $11.9 billion. That's the biggest haul for a US firm since Facebook brought in $16 billion in 2012. READ MORE
There's no end in sight for higher prices. US consumer price inflation surged higher again in October, the Bureau of Labor Statistics reported Wednesday.
Over the past 12 months, prices climbed 6.2% -- the biggest increase since November 1990. READ MORE
Following last week’s announcement of the new OSHA guidelines mandating that firms with more than 100 employees that do not require vaccinations provide proof that unvaccinated employees are tested weekly, HR technology providers are offering tools and services for both remote and onsite COVID-19 testing. READ MORE
At most companies, the glory in the C-suite has typically gone to the executives who dream up new products, plot bold market expansions, or out-innovate the competition with money-gushing patents. Think Target’s chief merchant or Tesla’s CFO.
But this is 2021. READ MORE
Two years ago, few people outside of biopharmaceutical circles had likely heard of the company Moderna. Now, it’s a household name—thanks to its COVID-19 vaccine, which received emergency use authorization by the U.S. Food & Drug Administration at the end of 2020. As of last week, more than 156 million Moderna COVID vaccines have been administered in the U.S. READ MORE
As the Elizabeth Holmes trial unfolds, the audacity of the alleged scheme becomes clearer by the day. The purported lies are big, the sums of money staggering, the boldface names riveting. But perhaps what is most remarkable about the case is how unremarkable it is as a legal matter. Many have suggested that the culture of Silicon Valley is on trial — the infamous "fake it 'till you make it" ethos of founders. But the trial is really about classic fraud, just in a glossy form and a high-tech context. READ MORE
America's job market is showing signs of strength — welcome news after a choppy summer.
What's happening: The US economy added 531,000 jobs in October, according to government data released Friday. That's stronger than in August and September, though gains for both months have been revised higher. READ MORE