Posts by Morgan Korn
- Daily Ticker1 day ago
Whole Foods Market (WFM) announced on Wednesday that it would no longer carry Chobani Greek yogurt in its stores early next year. Chobani, which was founded in 2005 by Hamdi Ulukaya, is the best-selling Greek yogurt brand in the country. Whole Foods decided to drop Chobani because the cows used to make its yogurt are fed grains that contain genetically modified corn and soy, reports The Wall Street Journal.
Earlier this year Whole Foods told its suppliers that all food labels must identify GMO ingredients by 2018.
- Daily Ticker2 days ago
Martin Scorsese's "The Wolf of Wall Street"hits theaters nationwide next Wednesday, Dec. 25, and some Hollywood types are already calling it the best Wall Street movie of all time. The movie showcases the debauched life of Jordan Belfort, whose brokerage firm Stratton Oakmont broke the law, swindled investors and became famous for its extreme, infantile and depraved antics (wild office parties that included dwarfs and marching bands). Belfort may very well be the greedist Wall Street villian after Gordon Gekko. The difference: Gekko was fictional.
Hollywood has always loved Wall Street and its interesting characters. Movies like "Wall Street," "Trading Places," "Boiler Room," "Glengarry Glen Ross" and "It's a Wonderful Life" are undisputed classics. Some Wall Street movies ("Inside Job" and "Capitalism: A Love Story") focused on real people and their personal experiences with the dark side of the financial services industry.
- Daily Ticker4 days ago
Presidents of U.S. colleges and universities fundraise with donors, preside over graduation ceremonies and provide unversities with long-range strategic vision. They are also paid handsomely for their work. Forty-two private college presidents earned more than $1 million in 2011, according to a new analysis by The Chronicle of Higher Education. The median total compensation for a college president in 2011 was $410,523, up 3.2% from 2010. Of the 550 presidents’ salaries that were included in the analysis, 180 took home more than $500,000 in 2011 compared to 50 in 2004. The 10 highest paid college presidents in 2011 were:
- Daily Ticker7 days ago
One of the biggest market debates in recent weeks pertains to a question that has flummoxed investors for years: should I put all of my money in broad-based index funds or try to beat the market by investing actively in stocks? It seems that after the 2008 market crash index funds have won -- more than $3 trillion in assets are now invested in index funds, according to industry trade group Investment Company Institute. Major U.S. markets are ending 2013 in record territory; the Dow Jones Industrial Average is up 20% since Jan. 1 while the S&P 500 Index has gained 25% year-to-date.
Investors with large holdings in index funds are most likely smiling these days but that has not always been the case; index funds that mimicked the S&P or Nasdaq clobbered investors in 2000 when the dot-com bubble burst and again in 2008 when the financial system collapsed.
- Daily Ticker9 days ago
10,000: that’s the number of decisions each one of us makes every day, according to economist and best-selling author Noreena Hertz. Some are trivial – 227 decisions alone are based on food – and others are potentially life altering.
How we make our decisions and the factors that influence them is the basis of Hertz’s new book, “Eyes Wide Open.” She interviewed corporate executives, hedge fund honchos, ER surgeons, government officials, Hollywood moguls and fighter jet pilots as part of her research and distilled their advice and experience in to 10 easy steps that she says will make all of us capable of making smarter and better decisions in our professional and personal lives.
Some of the steps are obvious, such as getting enough sleep (“If you don’t get enough sleep it’s like making decisions drunk,” she notes) – and others, like taking a “digital Sabbath,” have been recommended before on this show.
- Daily Ticker10 days ago
Who doesn’t love pizza? It may very well be the ultimate comfort food: gooey, greasy cheese topped with your favorite meats or veggies, all surrounded by a golden, crunchy crust…is your mouth watering yet? The pizza possibilities are endless: sausage, pepperoni, eggplant, peppers, onions, olives, broccoli, extra cheese, clams, shrimp, roasted garlic cloves, thin crust, thick crust!
Pizza has also become a serious business: 93% of Americans report eating pizza at least once a month, making it a $38 billion dollar industry.
Americans on average eat 46 slices – or 23 pounds – of pizza each year, and nearly 100 acres of pizza are consumed annually in the U.S. (that equals 350 slices per second!). The American Dairy Association ranks pizza as Americans’ fourth most craved food, after cheese, chocolate and ice cream.
More than 69,000 pizzerias sell this dependable food staple in the U.S., but which ones are the best?
The Daily Ticker posed that question to Alex Vallis, digital features editor at Food & Wine Magazine.
- Daily Ticker11 days ago
It’s that time of year for predictions: how will the stock market perform in 2014, which politicians will be elected, what country will lead global economic growth, etc. The Economist magazine recently unveiled its annual prognostications as well as its track record for 2013. Dan Franklin, editor of the magazine’s “The World in 2014” issue, sat down with The Daily Ticker to discuss what the world may look like next year. First, let’s start with the magazine’s 2013 performance:
The magazine’s editors and writers accurately forecast the direction of the big economies like the U.S., Europe, China, Britain and India. They also correctly anticpated major merger deals, such as the acquisition of Nokia by Microsoft.
There were a few including the failure to foresee a U.S. government shutdown, the staying power of Syrian President Bashar Assad as well as a military coup in Egypt. The magazine also underestimated the impact of Japanese Prime Minister Shinzo Abe’s economic policies.
- Daily Ticker17 days ago
Cyber Monday has quickly become the go-to shopping day of the year. More consumers shopped online yesterday than on Black Friday and online receipts rose 20.6% compared to 2012 Cyber Monday sales according to the IBM Digital Analytics Benchmark. Adobe's Digital Index said Cyber Monday sales totaled $2.29 billion this year, up 16% from last year. More than 17% of shoppers placed their online orders from their mobile phones, a 55.4% year-over-year increase reports IBM. Cyber Monday, which began in 2005 as a ploy by marketing firms to get more people to buy online, ranks just behind Black Friday as one of the most profitable days of the year for retailers. A lot of shoppers have a “fixation and a fascination” with Cyber Monday, says The Daily Ticker’s Aaron Task in the accompanying video. “And there’s nothing like using your employer’s time to do the shopping instead of fighting with the mobs at Walmart and everywhere else,” adds Henry Blodget. Related: Cyber Monday Jewelry Deals: Are Consumers Getting the Best Price? Shopping online has risen in popularity in recent years, yet more than 90% of all U.S. retail transactions still take place in a brick-and-mortar store, says research firm ShopperTrak. As online shopping becomes easier, cheaper and more efficient (think Amazon’s delivery drones) traditional retailers will be forced to adjust their modus operandi to stay relevant with consumers. Retailers are already losing a percentage of sales and pricing power to their online competitors and this can cause “businesses to fall apart as we’ve seen with JCPenney,” explains Blodget. Related: Ignore the Black Friday “Giant Hypefest & Huge Consumer Orgy”: Ritholtz The National Retail Federation expects total holiday sales to grow 3.9% this year versus last year. Early reports from last weekend’s holiday shopping extravaganza paint a slightly different picture: consumers spent $1.7 billion less than they did in 2012 and the amount each consumer spent on average this year dropped to $407.02 from $423.55 in 2012. ShopperTrak reported that traffic at stores on Black Friday fell 11.4% and revenue plunged 13.2% compared with 2012 figures. Tell Us What You Think! And don't forget to follow us on Twitter and Facebook! More from The Daily Ticker How Complainers Wreck the Economy Nasdaq 4000: Why This Time Is Different How Three 20-Somethings Can Help Obama Fix HealthCare.gov
- Morgan Korn at Daily Ticker28 days ago
Starting Saturday, U.S. consumers will know exactly how the cow, pig, chicken or lamb they're eating was slaughtered, raised and even where it was born.
No, this is not an episode of Portlandia. These new labeling laws, referred to as country-of-origin labeling (COOL), were first approved by Congress in 2002. Major U.S. meat processors like Tyson (TSN) and Cargill have been fighting to reverse or amend the rules, arguing that they impose excessive costs on the industry and will reduce the demand for imported meat. More than 2.2 billion pounds of beef -- or 7.7% of the total supply -- was imported into the U.S. in 2012, according to the USDA. Americans consumed 37.3 billion pounds of chicken and 24.6 billion pounds of pork last year that were produced in foreign facilities. Opponents of COOL also include Canada and Mexico, who say the rules unfairly discriminate against their products and will lead to weaker meat exports.
- Morgan Korn at Daily Ticker1 mth ago
The holiday shopping season hasn’t even officially begun, yet pessimism is already prevailing: Some experts have predicted this year’s sales increase will be the worst since 2009, the year the recession officially ended. Major retailers such as Walmart (WMT) and Best Buy (BBY) are warning investors the current quarter will be soft. Deep, early discounts (including a $98, 32-inch flat-screen TV from Walmart) could also negatively affect retailers' bottom line.
The National Retail Federation expects 33 million people will shop online and in stores on Black Friday. Holiday sales will rise 3.9% compared to 3.5% last year, the NRF calculates. This is a higher estimate than other forecasts including ShopperTrak, which projected just a 2.4% rise.