Snoop Dogg and Jared Leto Join the Reddit Fray; Jobs They are Aplenty; Soda Delivery Right to Your Door

Reddit already?

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Reddit, the website billed as “The Front Page of the Internet” is itself making headlines for having raised $50 million in funding. Of course, the usual Silicon Valley suspects whipped out their wallets to get a piece of the Reddit action but they weren’t the only ones. Hip-hop icon Snoop Dogg and oh-so-pretty-Oscar-winning-actor Jared Leto wanted in on the Reddit pie too. Reddit, whose content leaves some tongues wagging and other tongues gagging, plans on using that $50 million for all sorts of neat things like hiring more staff, improving its mobile offerings and, of course, ads. Reddit CEO Yishan Wong also has big convoluted plans to give back 10% –  in money, that is –  to the users who so valiantly scourge the internet to find the right stories that drive the traffic which entertains and sometimes horrifies its visitors. However Wong fully admits “that this plan could tally fail.” Totally. We mustn’t forget to mention that unfortunate incident when nude celebrity photos were leaked onto the site. Many thought the leak was extremely uncool. The site was launched back in 2004 and boasts 133 million users.

Sweet September…

Image courtesy of renjith krishnan/FreeDigitalPhotos.net

Image courtesy of renjith krishnan/FreeDigitalPhotos.net

Just in case you were feeling bummed about the economy, because I know that was your first thought when you woke up this morning, then here’s some good news. According to Automatic Data Processing aka ADP, aka those three letters that help decorate your paycheck, just released new data telling us that 213,000 jobs were added in the month of September. That marks the sixth month in a row that job gains are up. It’s especially good news since job gains over the 200,000 mark have a special little way of making the unemployment rate head a wee bit south. And these numbers are just from the private sector which, by the way, gained in all industries. Just wait till you see what numbers the public sector posts. Ooh. I can hardly stand the excitement. Now if the Bureau of Labor Statistics would graciously back up those numbers then all would be right with the world. Almost. Because less people are filing for jobless claims, which happen to be at a seven year low, more and more spending occurs, which leads to more and more economic growth, which leads to…well, you can figure it out from here.

Amazon quench…

Image courtesy of kraifreedom/FreeDigitaPhotos.net

Image courtesy of kraifreedom/FreeDigitaPhotos.net

Thirsty? Then you better log onto Amazon. Quick. That is if you are jonesing for PepsiCo’s latest beverage offering, PepsiTrue. What’s true is that this drink can only be purchased, for now anyways, via the e-commerce website – in 24 packs. What is also true is that it still has calories in it, except 30% less of them. As for the hotly contested high-fructose corn syrup and artificial sweeteners? Those ingredients have been scrapped as a way to win back Millenials who seem to prefer beverages sans those items and have been shifting away from soda for the last several years. And, by initially selling the product on Amazon, PepsiCo, apparently, will be able to gauge the response for the new cola. Now can someone tell me what PepsiCo would have done if this were 1984? Anyone?

 

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Jimmy Choo: If the IPO Shoe Fits…; Inversions: The Good. The Bad. The Ugly; Soda Vs. the World

I Jimmy Choos you…

Image courtesy of biosphere/FreeDigitalPhotos.net

Image courtesy of biosphere/FreeDigitalPhotos.net

Arguably one of the world’s awesomest shoemakers (understatement of the year), Jimmy Choo, propelled to fame thanks to Carrie Bradshaw and “Sex and the City,” is now looking to put a little “pump” into the stock market by coming out with its own IPO next month. Granted, it will be nothing compared to Alibaba’s meteoric rise to the top of the index. Partly because it will be listed on the London Stock Exchange. The other staggering difference is that Jimmy Choo’s valuation, at about $1 billion, will be a wee bit smaller by about oh, I don’t know, $23 billion, give or take. Jimmy Choo has major plans to expand in Asia where  the shoes are not as easy to come by, yet so very many people there want them. And you know, Asia being a pretty huge place and all, has a lot of shoes to fill (sorry, I had to go for that one). The company has seen double digit growth on that continent, especially in China. Which is good because since you can’t score a new iPhone 6+ there, you can at least console yourself with a $2000 pair of shoes.

An inversion by any other name…

Image courtesy of Craftyjoe/FreeDigitalPhotos.net

Image courtesy of Craftyjoe/FreeDigitalPhotos.net

Inversions. They’re baaack. If you recall (and its okay if you don’t), corporations totally dig inversions as a way to reduce the heavy duty 35% tax burden imposed by sweet old Unlcle Sam. Simply put, companies move overseas. It’s a bit more complicated but I’ll spare you all the gory details. The government, this one anyway, gets really annoyed when companies do inversions, because it thinks money is being taken out and away from the US. Now, just as eight major US corporations, Burger King among them, are getting set to pack up their things and head for fiscally greener pastures, US Treasury Secretary Jacob Lew inconveniently announced plans to crackdown on inversions practices and the companies that do them. Lew hopes to “significantly diminish the ability of inverted companies to escape US taxation” and basically make it not worth it for companies to invert. However, Martin Regalia, who just so happens to be the chief economist at the super-important US Chamber of Commerce feels this crackdown is a very very bad idea and says that “the administration just assured that deferred income in the once foreign subsidiary will never come back to the U.S. to help create income, jobs and economic growth here.” Which basically means: “Bad public policy produces bad economic results.”

The skinny on soda…

Image courtesy of artzenter/FreeDigitalPhotos.net

Image courtesy of artzenter/FreeDigitalPhotos.net

Your soda is about to get a whole lot skinnier – 20% skinnier. And you can forget Coke vs. Pepsi vs. Dr. Pepper vs. whatever…It’s now soda vs. the world as beverage suppliers are getting their game on to try very hard to get Americans to stop consuming so much sugar,  at least from their beverages. This big unified soda announcement came during the Clinton Global Initiative. Apparently a study was conducted that found how between 2000-2013, the amount of sugar people got from their drinks fell over 12%. Which is all good. Especially because the beverage industry took note of this and will now push water and diet drinks more aggressively. Why, they are even going to market those cute smaller size cans of full calorie soda. Which is a really good thing. Especially because those darling little cans are so much more profitable. More so than the bigger regular-sized cans. Go figure. Oh, and they allegedly help with portion control too.

Electrolux Sucking Up GE Appliance; Soupy Sales; So Long, Boneless Chicken Sandwich Innovator

Suck it up…

Image courtesy of bplanet/FreeDigitalPhotos.net

Image courtesy of bplanet/FreeDigitalPhotos.net

AB Electrolux, the parent company of US brands Electrolux and Frigidaire, did a little shopping today when it picked up GE Appliance for the bargain basement price of $3.3 billion. It is the biggest purchase Electrolux ever made. The two companies combined are expected to pull in $23 billion in total sales which is a ridiculous amount of ovens and dishwashers, if you ask me. It’s also expected to save the company a whopping $300 million. What it won’t likely save are a number of jobs that tend to get lost following a business decision such as this.

Not so tasty earnings…

Image courtesy of tiramisustudio/FreeDigitalPhotos.net

Image courtesy of tiramisustudio/FreeDigitalPhotos.net

Apparently is soup is not good food, after all. That is, if you ask Millenials whose never-ending quest for tasty adventures and lack of loyalty seem to have allegedly affected Campbell Soup Co.’s less than flattering earnings. Campbell’s, which also owns Pepperidge Farm and V8 (should have had one) came out with fourth quarter earnings and while sales did rise 7%, to $1.85 billion, analysts were expecting $1.87 billion. Is it really all the fault of those Millenials? Hmmm. However, accroding to Campbell’s president and CEO Denise Morrison, the food industry is experiencing profound “change and challenge.” To me that sounds like code for it’s all the Millenials’ fault. But you could also ask more traditional comapnies like Pepsi and McDonald’s who have been losing ground to brands like Chipotle and whatever trendy drink those pesky Millenials favor this week. However, on the bright side, Campbell’s bright side, that is, shares are up almost 3% and its coming out with more than 200 new foods. So clearly there are still quite a few people left who think soup is indeed a good food.

RIP…

Image courtesy of tiverylucky/FreeDigitalPhotos.net

Image courtesy of tiverylucky/FreeDigitalPhotos.net

We bid farewell to yet another revolutionary. This time it’s to Truett Cathy, 93, the founder of Chick-fil-A. Better known these days for its opposition to gay marriage than for its boneless chicken sandwich and classic southern cuisine food that catapulted it to fame. The first Chick-fil-A graced the world back in 1967, in Atlanta and has since grown to more than 1,800 locations. Born into poverty, Cathy built up the chain to more than 1,800 eateries in 39 states, landing himself on the Forbes’ list of billionaires. The chain, also famous for the fact that it is closed on Sundays, posted more than $5 billion in sales in 2013.