2025-07-20 12:00:30.52

Rebecca Renard-Wilson, a mother of two, is among many African Americans who have stopped shopping at Target and Amazon, opting instead for farmer's markets and small, minority-owned businesses. This shift reflects a broader movement rejecting corporations perceived as not valuing the Black community. The boycott, spearheaded by Rev. Jamal Bryant, began after Target and other retailers followed President Trump's lead in eliminating their DEI programs, reversing previous commitments to support Black-owned businesses. The boycott, which saw over 250,000 pledge to avoid Target, resulted in a reported $500 million loss in Target's first-quarter sales. While some find the boycott a necessary protest against corporate abandonment of DEI, others highlight the financial challenges it presents, particularly for those in rural areas with limited access to alternative retailers. The article explores the complexities of the boycott, including the financial implications for both consumers and businesses, and the broader implications for corporate social responsibility and the Black community.

2025-07-20 06:00:33.062

Andy Byron, CEO of New York-based tech company Astronomer, resigned following a viral video showing him embracing an employee at a Coldplay concert. Astronomer's board accepted his resignation and will begin searching for a new CEO. Following the video, alleged statements from Byron acknowledging the situation circulated online, though Astronomer initially denied he had made any statements. The video showed Byron with Kristin Cabot, the company's chief people officer, on the kiss cam at Gillette Stadium. Astronomer stated that Byron's actions did not meet the company's standards of conduct and accountability. Co-founder Pete DeJoy is serving as interim CEO. Byron's LinkedIn profile is no longer public, and he's been removed from Astronomer's leadership page, though he remains listed on the company website as a board member.

2025-07-19 12:00:44.567

Astronomer CEO Andy Byron has been placed on leave after a video of him embracing an employee, Kristin Cabot, on a Jumbotron at a Coldplay concert went viral. The incident, which occurred during Coldplay's "The Jumbotron Song", showed Byron and Cabot cuddling before quickly separating upon realizing they were on camera. Coldplay frontman Chris Martin jokingly commented on the couple. The video led to online speculation and memes. Astronomer issued a statement stating that an investigation is underway and that their leaders are expected to uphold high standards of conduct and accountability. Pete DeJoy, cofounder and chief product officer, is serving as interim CEO.

2025-06-26 06:00:54.632

Bumble, the dating app whose stock has lost 90% of its value since its 2021 IPO, is laying off 30% of its workforce, or 240 employees. This move, announced in a regulatory filing, aims to save $40 million annually and allow reinvestment in new products and tools. The company states that this restructuring is to better focus on strategic priorities. The layoffs come amid growing frustration among younger users and declining revenue. Bumble's recent quarter saw an 8% drop in revenue and a 1% decrease in premium subscribers. Founder Whitney Wolfe Herd has returned to the company, acknowledging its struggles. While Bumble's stock rose 17% upon the layoff announcement, the news highlights challenges faced by online dating companies. Competitors like Match Group (Hinge and Tinder) are also struggling, with Match Group recently laying off 13% of its workforce. In contrast, Grindr, an LGBTQ+ dating app, has seen its stock grow by over 115% in the past year, demonstrating success by expanding beyond its initial hookup-centric model.

2025-06-25 06:01:09.536

McDonald's is the latest target of a grassroots "economic blackout" campaign. The People's Union USA, led by John Schwarz, is urging a boycott from Tuesday to next Monday, demanding "fair taxes, an end to price gouging, real equality, and corporate accountability." McDonald's responded, stating they welcome dialogue but find the claims misleading, highlighting their commitment to inclusion, employment opportunities, and tax contributions. While the boycott's effectiveness is uncertain, it comes at a challenging time for McDonald's, which recently reported two consecutive quarters of sales declines amid economic uncertainty and rising prices (approximately 40% since 2019). Schwarz previously organized boycotts of Walmart, Target, and Amazon, with mixed results. A March boycott of Amazon had little impact, while a 40-day boycott of Target, driven by customer backlash to its DEI program changes, showed more significant effects. Experts remain skeptical about the impact of uncoordinated boycotts on large corporations.

2025-06-25 00:02:18.95

McDonald's is the latest target of a grassroots "economic blackout" campaign. The People's Union USA, led by John Schwarz, is urging a boycott from Tuesday to next Monday, demanding "fair taxes, an end to price gouging, real equality, and corporate accountability." McDonald's responded by stating their commitment to inclusion and fair tax payments, but the boycott comes at a time when the company is already facing declining sales and customer backlash over rising prices (approximately 40% since 2019). Previous boycotts organized by Schwarz, targeting Walmart, Target, and Amazon, have yielded mixed results. While a boycott against Amazon showed minimal impact, a 40-day boycott of Target, driven by customer opposition to the company's DEI policy changes, did lead to a sales decline. Experts remain skeptical about the effectiveness of these uncoordinated boycotts, but the pressure on McDonald's highlights growing consumer concerns and the ongoing debate surrounding corporate social responsibility and economic inequality.

2025-06-22 18:00:39.238

MEMPHIS, Tenn. (AP) — Fred Smith, the FedEx Corp. founder who revolutionized the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corps veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. Memphis, Tennessee-based FedEx became a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered on a main hub, a “hub and spokes” system, as it became known. The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured. At the time, Smith was trying to land a major shipping contract with the Federal Reserve Bank that didn’t work out. In the beginning, Federal Express had 14 small aircraft operating out of the Memphis International Airport flying packages to 25 U.S. cities. Smith’s father, also named Frederick, built a small fortune in Memphis with a regional bus line and other business ventures. Following college, Smith joined the U.S. Marines and was commissioned a second lieutenant. He left the military as a captain in 1969 after two tours in Vietnam where he was decorated for bravery and wounds received in combat. He told The Associated Press in a 2023 interview that everything he did running FedEx came from his experience in the Marines, not what he learned at Yale. Getting Federal Express started was no easy task. Overnight shipments were new to American business and the company had to have a fleet of planes and a system of interconnecting air routes in place from the get-go. Smith was a minority owner of the Washington Commanders NFL team until 2021, when owner Daniel Snyder and his family bought out the shares held by Smith, Dwight Schar and Bob Rothman. His son Arthur was a head coach with the Atlanta Falcons for three seasons and is currently the offensive coordinator for the Pittsburgh Steelers. Though one of Memphis’ best-known and most prominent citizens, Smith generally avoided the public spotlight, devoting his energies to work and family. Despite his low profile, Smith made a cameo appearance in the 2000 movie “Castaway” starring Tom Hanks. The movie was about a FedEx employee stranded on an island. “Memphis has lost its most important citizen, Fred Smith,” said U.S. Rep. Steve Cohen of Tennessee, citing Smith’s support for everything from the University of Memphis to the city’s zoo. “FedEx is the engine of our economy, and Fred Smith was its visionary founder. But more than that, he was a dedicated citizen who cared deeply about our city.” Smith rarely publicized the donations he and his family made, but he agreed to speak with AP in 2023 about a gift to the Marine Corps Scholarship Foundation to endow a new scholarship fund for the children of Navy service members pursuing studies in STEM. “The thing that’s interested me are the institutions and the causes not the naming or the recognition,” Smith said at the time. Asked what it means to contribute to the public good, he replied: “America is the most generous country in the world. It’s amazing the charitable contributions that Americans make every year. Everything from the smallest things to these massive health care initiatives and the Gates Foundation and everything in between,” he said. “I think if you’ve done well in this country, it’s pretty churlish for you not to at least be willing to give a pretty good portion of that back to the public interest. And all this is in the great tradition of American philanthropy.”

2025-06-22 12:01:37.457

Labubus, the cute and creepy collectible figurines, have become a global phenomenon, driving a revenue explosion for Pop Mart, the Chinese company behind them. Sold in blind boxes, the rarity of certain designs, especially the elusive "secret" Labubu, fuels a fervent collector's market. In 2024, Pop Mart reported over $1.8 billion in revenue, with $420 million from outside China, largely attributed to Labubu's popularity. The company's clever sales tactic of offering a low probability (1 in 72) of obtaining the secret variant drives demand and increases spending. A CNN simulation showed that obtaining a secret Labubu could cost an average buyer around $2,000. Despite high demand, limited availability at Pop Mart's online and retail stores, coupled with inflated prices on reseller platforms like eBay, further fuels the craze. Online search interest in Labubu has also skyrocketed, particularly in several US states.

2025-06-22 00:01:05.024

Labubus, the cute yet creepy figurines, have become a global phenomenon, boosting Pop Mart's revenue to over $1.8 billion in 2024. Sold in blind boxes, the rarity of certain designs, especially the "secret" Labubus, drives intense collecting. A CNN simulation showed that obtaining a secret Labubu could cost an average buyer around $2,000. The limited availability of these toys, coupled with online reseller markets, fuels the demand and keeps collectors hooked. The popularity is particularly high in California, Nevada, Texas, and Hawaii, as shown by Google Trends data.

2025-06-12 00:01:01.422

Starbucks is launching a protein-packed cold foam in a bid to revitalize its menu and compete in the growing protein beverage market. The banana-flavored foam, boasting 15 grams of protein, will be paired with a sugar-free vanilla latte and tested in five US locations. This move is part of CEO Brian Niccol's broader strategy to modernize the Starbucks menu, including cutting 30% of existing items while adding new food and drinks. The company is also experimenting with in-store baking, starting with a croissant and double chocolate cookie. This initiative comes as the protein shake market explodes to $6 billion, dominated by brands like Core Power and Muscle Milk. Meanwhile, Starbucks is exploring AI integration in 35 locations to speed up service and is reportedly considering selling a stake in its underperforming China unit.