Posts by Morgan Korn
- Daily Ticker20 hrs 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 Ticker1 day 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 Ticker2 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 Ticker8 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 Ticker19 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 Ticker21 days 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.
- Morgan Korn at Daily Ticker26 days ago
Forty-six million turkeys will be roasted, deep fried, basted and brined this Thanksgiving. The American Farm Bureau Federation says the cost of a Thanksgiving dinner for 10 people will average $49.04, a 44-cent decrease from last year’s average of $49.48. Supermarkets are charging $21.76 for a 16-pound turkey, which works out to $1.36 per pound (and three cents less than the per pound cost in 2012).
Some turkey lovers are splurging on the main course, paying up to $261 for a 20-pound bird at specialty online meat purveyors like D’Artagnan. Organic free-range turkeys, wild turkeys and free-range heritage turkeys are available to order on the D'Artagnan website, in addition to foie gras, pasture-raised beef tenderloin and fresh Italian white truffles.
- Morgan Korn at Daily Ticker27 days ago
At Pier 94 in New York City, a few lucky fans of electronic dance music (EDM) are about to get ... caked.
Thousands of revelers are gyrating to music spun by superstar DJ Steve Aoki, who will soon perform a ritual his followers eagerly anticipate at each show: smashing 10 sheet cakes onto the faces of audience members. Choosing which “lucky” concertgoer to cake will be tough: “Cake me the hardest” signs are spotted throughout the crowd. Aoki plays 250 shows a year and brings eight to 10 cakes with him per show, so around 2,500 fans will go home sticky with butter cream in 2013.
The 35-year-old Grammy-nominated DJ and California native has become famous for his stage antics, which also include showering the crowd with champagne. But the fun-loving DJ and music producer has a serious side, too: He oversees an empire that includes the indie record label Dim Mak, four restaurants, a fashion line and a charitable fund. Forbes estimates Aoki will earn $14 million in 2013, $2 million more than last year.
- Morgan Korn at Daily Ticker28 days ago
Elon Musk, the visionary businessman behind Tesla Motors (TSLA) and SpaceX, has been hailed as the next Steve Jobs or Thomas Edison. The South African entrepreneur has revolutionized many industries in a short period of time but five years ago Musk was on the verge of a nervous breakdown. Both Tesla and SpaceX were losing cash and Musk had to make a tough decision: try to rescue both of his projects from bankruptcy or devote all his resources into one -- without knowing if either company could survive in the long run.
The Daily Ticker's Henry Blodget interviewed Musk earlier this week at Business Insider's IGNITION Conference in New York. Watch the video to see how Musk saved both of his companies -- and his reputation.
Have you ever come back from the brink of failure? Let us know in the comments below!
You can also send an email to: firstname.lastname@example.org.
- Morgan Korn at Daily Ticker1 mth ago
There are five things to look forward to on Thanksgiving: family, stuffing, football, pumpkin pie and Black Friday deals. As soon as you finally digest that third plate of Thanksgiving dinner, it will be time to get into your car and join hundreds (if not thousands) of frenzied shoppers eagerly awaiting deep discounts on holiday merchandise.
“I’m from the South and Black Friday is like our sport,” says Yahoo Finance personal finance writer Mandi Woodruff. “It’s our Super Bowl. It’s kind of like an adventure. You have the RV, the whole family.”
But here’s the dirty little secret about Black Friday: some of the best deals are offered in the weeks leading up to the official start of the holiday shopping season.
“Black Friday is becoming obsolete,” Woodruff explains in the accompanying video. “The entire month of November is all about sales. Retailers aren’t going to wait for Black Friday to start rolling out those deals.”