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Aldi to add 800 new U.S. grocery stores by 2028 2024-03-07 20:52:00+00:00 - Grocery giant Aldi plans to add 800 new stores in the U.S. over the next five years. The German-owned, Illinois-based chain said in a release Thursday it is planning to build or expand hundreds of Aldi locations in the company's preexisting northeast and midwest strongholds, as well as in western U.S. and Southern California. A first Las Vegas location is planned, too. Meanwhile, in the southeast, the company will convert many existing Winn-Dixies and Harveys locations into Aldis, though "a meaningful" number of them will remain under their current brands. Aldi said Thursday its acquisition of Southeastern Grocers, the parent company of Winn-Dixie and Harveys, had been completed. Aldi said it anticipates that approximately 50 stores will begin the conversion process in the latter half of 2024, with the majority of these stores reopening as Aldi in 2025. “Our growth is fueled by our customers, and they are asking for more Aldi stores in their neighborhoods nationwide,” said Aldi chief executive Jason Hart in the statement. He continued: "With this commitment to add 800 stores in the next five years, we’ll be where our shoppers need us while positively impacting the communities we serve." According to SupermarketNews.com, Aldi was the 13th largest U.S. grocer as of last summer — only slightly larger than Dollar General in terms of market share — but currently ranks as the fastest-growing grocery retailer in the U.S. Known for its lower prices via private-label selections, Aldi's ambitious growth plans represent a viable threat to established players — especially in Southeastern markets like Florida, according to a report from the market research group Dunnhumby. “Retailers everywhere should be examining their private brand, pricing, assortment, digital, and real estate strategies in response to Aldi’s move, to build protective moats for an uncertain future,” a report on Aldi from last summer said according to GroceryDive.com.
Dr. Dennis Doan Scholarship for Medical Students: Empowering the Next Generation of Healthcare Professionals 2024-03-07 20:49:00+00:00 - Loading... Loading... FORT WORTH, Texas, March 07, 2024 (GLOBE NEWSWIRE) -- Dr. Dennis Doan Scholarship for Medical Students is a prestigious award aimed at supporting and nurturing the future of medicine. Established by Dr. Dennis Doan, a prominent figure in the field of cardiology, this scholarship embodies his unwavering commitment to healthcare excellence and medical education. Dr. Dennis Doan, MD, MBA, FACC, RVPI, is a distinguished medical professional with over two decades of experience in cardiology. His educational foundation at the Texas Tech University Health Science Center School of Medicine, where he earned his MD/MBA joint degree in 2004, laid the groundwork for his multifaceted approach to medicine, combining clinical expertise with a deep understanding of healthcare management and administration. As a testament to his passion for healthcare education, Dr. Dennis Doan has established the Dr. Dennis Doan Scholarship for Medical Students. This scholarship reflects his belief in nurturing the next generation of medical talent and his dedication to shaping the future of medicine. The Dr. Dennis Doan Scholarship for Medical Students is a one-time award of $1,000, with the application deadline set for May 15, 2024, and the winner to be announced on June 15, 2024. To be considered for this prestigious award, applicants must meet specific criteria, including pursuing a medical education, demonstrating academic excellence, possessing a deep commitment to the field of medicine, exhibiting a strong desire for personal and professional growth, and submitting a well-thought-out essay of fewer than 1000 words in response to a prompt. Dr. Dennis Doan's lifelong commitment to healthcare excellence continues to inspire and impact the medical community. His vision, expertise, and compassionate approach to patient care are driving forces in the ever-evolving landscape of healthcare, making him a respected figure and a valuable asset to the medical profession. About Dr. Dennis Doan Dr. Dennis Doan, MD, MBA, FACC, RVPI, is a distinguished figure in the field of cardiology, renowned for his unwavering dedication to healthcare excellence. With a career spanning over two decades, Dr. Doan's journey has been characterized by a passion for advancing patient care, a commitment to medical education, and a relentless pursuit of medical innovation. Dr. Doan's educational foundation was established at the Texas Tech University Health Science Center School of Medicine, where he earned his MD/MBA joint degree in 2004. This dual qualification laid the groundwork for his multifaceted approach to medicine, combining clinical expertise with a deep understanding of healthcare management and administration. His professional journey took him to the Heart Center of North Texas, where he specialized in interventional cardiology and peripheral vascular practice for nearly seven years. During this time, he honed his skills in diagnosing and treating cardiovascular diseases, contributing significantly to the well-being of countless patients. Contact Info: Spokesperson: Dr. Dennis Doan Organization: Dr. Dennis Doan Scholarship Website: https://drdennisdoanscholarship.com Email: apply@drdennisdoanscholarship.com
TikTok Prompts Users to Call Congress to Fight Possible Ban 2024-03-07 20:46:34.131000+00:00 - Washington lawmakers introduced a bill this week calling for TikTok to cut ties with its Chinese parent company or face a ban in the United States. When many users opened the popular app on Thursday, the company greeted them with a message to oppose the legislation, prompting a flood of phone calls to several Capitol Hill offices. “Stop a TikTok shutdown,” the message on the app read. It included a button for people to call their representatives, saying: “Let Congress know what TikTok means to you and tell them to vote NO.” By noon, the phone lines for members of Congress were overwhelmed by calls, according to posts from lawmakers’ staff members on X and two congressional aides with knowledge of the situation. Some of the callers appeared to be teenagers, while others hung up as soon as they were connected, the aides said. One staff member posted a screenshot to X showing that TikTok also sent a push alert to some users. Some users said on X that they were unable to use the app before placing the call; it was unclear whether it was possible to bypass the message.
TikTok's Licensing Predicament: Expiring Music Publishers Deal Amplifies Universal Music Group Dispute - WisdomTree Industrial Metals Enhanced (NASDAQ:META), Sony Group (NYSE:SONY) 2024-03-07 20:33:00+00:00 - Loading... Loading... TikTok is facing mounting pressure as it removes recordings co-written by Universal Music Group NV UMGNF songwriters and approaches the end of its licensing deal with the National Music Publishers Association (NMPA) on April 30. "We do not anticipate that there will be an option to renew or extend the current NMPA licenses or participate in a new license with TikTok through NMPA," the association said in a letter to its members. See Also: Universal Music Vs. TikTok: Harry Styles, Coldplay Pulled From Social Media Platform As Battle Over Music Rights Intensifies In the letter, the organization urges its members to engage in direct negotiations with TikTok for continued music licensing. Alternatively, it offers assistance in exploring "enforcement options" for those who opt not to pursue direct negotiations. "What YouTube and many other social media-type platforms discovered over time was that music was extremely important to their business model and, as their business model changes, oftentimes they need the music industry to be their partner," David Israelite, CEO of the NMPA, said in an interview with Music Ally. "I would hope that TikTok comes to the realization of just how important music is to the platform. But maybe it needs to play out in this way," he added. Meanwhile, TikTok's parent company, ByteDance, has seen a significant revenue increase, with Q3 2023 revenues reaching $30.9 billion, nearly on par with Meta Platforms Inc's META $34 billion for the same period, The Wall Street Journal reports. If additional publishers, such as Sony Group Corp. SONY and Warner Bros. Discovery Inc's WBD Warner Chappell, join the move, it would result in more music disappearing from the platform and further affecting the livelihoods of artists and songwriters. Read Next: Universal Music Group Announces Major Layoffs Amid $271M Strategic Overhaul Image credits: Mehaniq on Shutterstock.
Travel Medford Unveils Top 5 Reasons to Visit Medford in 2024 2024-03-07 20:28:00+00:00 - Loading... Loading... Largest DMO in Southern Oregon Touts Endless Amenities for Visitors Prior to Summer Travel MEDFORD, Ore., March 7, 2024 /PRNewswire/ -- Travel Medford, the official destination marketing organization for Medford, Oregon, proudly unveils the top five reasons for travelers seeking unparalleled adventure and cultural immersion to visit Medford in 2024. Positioned as a hidden gem in the heart of the Pacific Northwest, Medford is a must-see destination for travelers seeking a mix of cultural richness, an eclectic wine scene, and an abundance of outdoor recreational experiences. Here are five reasons why Medford stands out as a must-visit destination in 2024: Nature's Paradise: Medford's unique geography creates an outdoor paradise with 200 annual days of sunshine. The city, less crowded than other Oregon regions, is beloved by families and outdoor enthusiasts. Oregon's only national park, Crater Lake National Park, the bluest and deepest lake in America, lies in Medford's backyard and is at the forefront of the city's allure, providing a multitude of year-round attractions, miles of trails, and unmatched views. The legendary Rogue River flows just north of Medford, is one of original eight US rivers designated as Wild & Scenic in 1968. It is known for its outstanding fish, wildlife and recreational values. Bucket List Credentials: Beyond its scenic vistas, Medford holds a prominent place on travelers' bucket lists due to its series of experiences. Visitors can embark on a passport-stamping journey filled with unforgettable moments. From skiing down Mt. Ashland, hiking the iconic Table Rocks, or taking a guided tour of the Harry & David flagship factory, guests have a myriad of adventures to choose from. Medford also caters to adrenaline-seekers with an array of soft adventure options, from zip lining over the Rogue Valley to jet boat expeditions navigating the Rogue River. Rogue Valley Wine Excellence: Medford serves as the gateway to the esteemed Rogue Valley wine country. The southernmost wine-growing region in Oregon, the Rogue Valley AVA is one of the most diverse wine regions in the world. Home to 85+ wineries and tasting rooms and four unique Wine Trails, Medford is at the heart of it all and the natural launchpad for wine aficionados to indulge in the region's unique terrain and expertise. Named a "Top Global Wine Destination" by Forbes and Wine Enthusiast, oenophiles seeking an accessible wine getaway can be from tarmac to tasting room in 30 minutes, due to Medford's close proximately to this world-class wine region. Enjoy experiencing it with the Rogue Valley Wine Passport. Arts & Culture: The city hosts a plethora of performing arts events, headlined by the acclaimed Britt Music & Arts Festival, featuring dozens of spring and summer concerts and world-class artists. Additionally, the annual Heart of the Rogue Festival is celebrated every October. The 2-day event, which won the 2022 Oregon Festival & Events Association Best Small Festival Award, highlights the talents of local artists and musicians and offers festival goers the opportunity to sip on local wines and beers while enjoying eclectic artisan food options. Hospitality and Authenticity: Central to Medford's allure is its genuine hospitality and small-town charm. As visitors traverse the city's quaint streets adorned with boutiques and galleries, they are welcomed with open arms by locals eager to share the city's treasures. From delightful cafes to farm-fresh culinary experiences, Medford's warmth and authenticity resonate with travelers seeking personal connections and a uniquely amiable atmosphere. Conveniently located on Interstate 5, just 30 miles north of California, Medford is home to the Rogue Valley International Airport, making it an appealing and accessible city to visit. As 2024 continues, Medford establishes itself as an irresistible destination, boasting various attractions and activities that cater to every traveler's preference. The Rogue Valley invites visitors to experience the allure of Medford firsthand and discover why it stands as the premier destination of the year. For more information about Medford, Oregon, and its offerings, please visit www.travelmedford.org. Media Contact: 5W Public Relations travelmedford@5wpr.com SOURCE Travel Medford
Lensrentals Acquires BorrowLenses Brand and Select Assets to Expand Largest Resource of Inventory for Creatives and Production Teams Seeking Photo and Video Equipment for Rental in the United States 2024-03-07 20:26:00+00:00 - Loading... Loading... Renowned for stellar customer service, Lensrentals maintains vital gear rental resource for anyone from movie and entertainment productions, professional sports leagues, to all videographers, photographers and content creators nationwide MEMPHIS, Tenn., March 7, 2024 /PRNewswire/ -- Lensrentals, the leading and largest online photo, video, audio and lighting equipment rental and production resource company, announced the acquisition of select assets of the BorrowLenses business, an online marketplace for photographic and video equipment rentals. The acquisition will expand Lensrentals' loyal customer base while augmenting its enormous inventory of more than 400,000 copies of over 6,000 different lenses, cameras, drones, lighting, audio and other high quality production equipment and accessories, in every format, from every major manufacturer available in the market. Additionally, the used gear program known as Keeper will also receive a significant boost in inventory. Lensrentals has long maintained the largest inventory of photo, video, audio, lighting and accessories and has attracted more than a million orders since its founding. Additionally, the company's expertise as a production resource and high quality customer service has enabled Lensrentals to align with brands that include world leading box office movie and entertainment companies, professional sports leagues and the journalism professionals that cover them. Similarly, BorrowLenses has provided cutting-edge photo and video gear for rental, convenient pick-up and shipping options, and exceptional service to its loyal base of creatives and professionals with more than one million orders over sixteen years. "As a big group of employee-owners, via our Employee Stock Ownership Plan, I think I speak for all employees when I say: we're collectively delighted and genuinely grateful to strengthen the Lensrentals family with the addition of the BorrowLenses brand, alongside whom we've served customers for nearly two decades, while pushing each other to excel. The acquisition will enable us to extend our high-quality rental and production experience to a growing customer base that demands the highest-quality technical equipment a creative needs to produce movies, video and audio, and photographic content, without the up-front expenses associated with buying gear outright and continued maintenance," said Tyler Beckman, CEO of Lensrentals. "We're proud of our reputation as the most reliable video and photo gear rental experience online. We employ experienced team members with hands-on video and photo experience to provide the right counsel and ensure the gear which our customers use is not only the highest quality professional grade, but also curated for individual scenarios, down to the right cables and extra batteries for cold conditions. We look forward to welcoming all BorrowLenses customers to the Lensrentals experience." With operations in San Carlos, CA, BorrowLenses provided photographers and videographers with a similar range of equipment for rental as Lensrentals. BorrowLenses has offered local pickup in California, like Lensrentals and LensProToGo in Tennessee and Massachusetts respectively, as well as nationwide shipping options. Lensrentals has long been renowned for providing the highest quality of customer service, by an experienced team of photo and video industry professionals. The customer service team recommends, troubleshoots, and offers counsel on what equipment will work best for each scenario presented. Whether the production is a box office movie, a televised multi-team race around the world, the sidelines of a professional or college sporting event, a new family member, a solar event, a road trip or a wedding, the customer service team operates like a trusted first assistant. Every piece of gear in the Lensrentals and LensProToGo inventory is cleaned and inspected optically and physically to guarantee orders arrive on time with compatible, working equipment. All technical equipment is shipped in weatherproof hard shipping cases and arrives with a return label in the box, to facilitate an easy return at the end of a rental. About Lensrentals Founded in 2006 and headquartered in Memphis, TN with additional facilities in Tennessee and Massachusetts, Lensrentals provides photography, video, audio, lighting gear and drones, amongst more than 400,000 equipment items, for lease from the largest inventory of equipment in the United States. The company ships to customers throughout the 50 states with pickup and return services available to local customers in Memphis, TN and Concord, MA. Lensrentals provides services to hundreds of thousands of photographers annually, maintaining the values of its founder; sharing the best available equipment, at its optimum quality and educating its users to make sure they can achieve their goals as a professional, amateurs and enthusiasts. The company maintains the highest quality of available equipment with the lowest equipment failure rate in the industry. SOURCE Lensrentals
Miami Seaquarium gets eviction notice several months after death of Lolita the orca 2024-03-07 20:09:36+00:00 - MIAMI (AP) — The Miami Seaquarium, an old-Florida style tourist attraction that was home to Lolita, the beloved Orca that died last year, is being evicted from the waterfront property it leases from Miami-Dade County. Miami-Dade County Mayor Daniella Levine Cava cited a “long and troubling history of violations” in a lease termination notice sent Thursday to the chief executive officer of The Dolphin Company, which owns the Seaquarium. The company was told to vacate the property by April 21, according to the letter from the mayor’s office. “They have been the subject of continuous violations, including decaying animal habitats, lack of veterinary staff and a lack of other experienced staff,” Levine Cava said during a news conference Thursday. “Our number one priority continues to be the safety and wellbeing of the animals,” the mayor said. Seaquarium officials sent a letter last month to Levine Cava, inviting her to visit the park so she could witness the animals’ wellbeing for herself. The county had advised the park in January that they were looking to terminate the park’s lease following a review from the U.S. Department of Agriculture, which regulates the treatment and care of captive animals. Eduardo Albor, CEO of The Dolphin Company showed up at the news conference and told reporters he doesn’t understand why the mayor has refused invitations to the Seaquarium. “How can she say that she’s concerned about the animals when she has never come to the Miami Seaquarium in two years,” he asked. Levine Cava said during the news conference that representatives of the county’s parks department have regular visits to the park over the past year and a half. “The current state of the Miami Seaquarium is unsustainable and unsafe,” Levine Cava said. The Seaquarium could still fight the eviction. A judge would need to declare the park in compliance with their lease. Albor said Thursday that he plans to let his lawyers respond to the eviction notice. “I will just let my lawyers defend our rights. I will just let our lawyers defend our rights because it is offensive to speak about my people,” Albor said. The action follows a series of federal inspections that found multiple problems at the Seaquarium, including unsafe and structurally deficient buildings. “The U.S. Department of Agriculture’s reports since 2022 also consistently identified that several structures have not been maintained properly, and that creates dangerous conditions and in many cases have resulted in injury,” the mayor said. The Dolphin Company, based in Mexico, had agreed to help move Lolita to a natural sea pen in the Pacific Northwest when it took over ownership of the Seaquarium in 2022. Lolita, also known as Tokitae, or Toki, died Aug. 18, at age 57. Animal rights activists had sought Lolita’s freedom for years. The orca spent much of her life in tank a that measures 80 feet by 35 feet (24 meters by 11 meters) and is 20 feet (6 meters) deep, and stopped performing in shows at the Seaquarium in 2022. A coalition that included Indianapolis Colts owner Jim Irsay worked on the plan to move Lolita back to the Pacific Northwest. A necropsy cited kidney failure as the cause of Lolita’s death. The necropsy also found Lolita suffered from acute and chronic bronchointerstitial pneumonia and renal degeneration, as well a chronic condition of the heart implying the degeneration of the cardiac valves. “At long last, authorities are taking action against the persistent animal welfare violations at Miami Seaquarium,” said Dr. Naomi Rose, senior scientist in marine mammal biology for the Animal Welfare Institute’s Marine Life Program. “This run-down facility has been a blight on Miami for too long. We hope the zoo and aquarium community steps up to the plate to ensure all of the animals — the mammals, birds, fish — find acceptable homes in U.S. facilities.” The Seaquarium opened in 1955 overlooking Biscayne Bay and was among the first theme parks devoted to marine life. It garnered international attention in the 1960s when the television series “Flipper” was filmed there. ___ Frisaro reported from Fort Lauderdale, Florida.
Biden’s State of the Union should address the economic elephant in the room 2024-03-07 20:09:03+00:00 - Among the many things President Joe Biden needs to accomplish during his State of the Union address Thursday is to turn the conversation about the economy around. The facts are on his side, but many voters don’t feel them. To change that, he’s got to tell voters every day until Election Day exactly what he’s doing to tackle one of their biggest concerns: high prices. People often credit themselves for getting a raise, but blame the government, and especially the president, when life costs more. Thirty-one percent of voters say the economy has improved, a 10-point increase in just a few months. The president, however, is not reaping the rewards. Despite good, empirical data about the economy, people experience higher prices every day, everywhere they go, from restaurants to grocery stores. It’s what sticks in people’s minds. And while wages have gone up, from a behavioral economic standpoint, people often credit themselves for getting a raise, but blame the government, and especially the president, when life costs more. That’s the predicament Biden finds himself in going into the election. Which makes the message around the economy crucially important. Let’s start with the truth, even if it’s not universally acknowledged: A year ago, there was near total agreement a recession was coming. Instead, the economy grew 2.5% in 2023. Unemployment was expected to rise, especially as the Federal Reserve sharply hiked interest rates to slow inflation (and the economy). Instead, unemployment has hovered below 4% for nearly two years, something not seen since the 1960s. Today, it’s 3.7%. At the same time, employers are hiring at a furious pace. Last year, nearly 3 million jobs were created — maybe that has something to do with the 5.5 million new businesses started last year. Consumers are feeling better about the economy. A recent survey found they’re feeling more confident about both the economy and that inflation will keep slowing. CEOs are more optimistic, too. Business Roundtable’s latest poll found their outlook for the economy jumped double digits and is now above the historical average. They plan to invest more in facilities and hire more. Let’s not forget the stock market, which is setting new records on a regular basis. The average 401(k) is up 14% from a year ago and is now $118,600. The stock market is not the economy, but for many Americans, it serves as a daily temperature check for how things are going. While not everyone owns stocks, 58% of households do — the largest share on record. Then there are all the bipartisan bills to promote economic growth today and for years to come: the American Rescue Plan Act, the CHIPS Act, the Inflation Reduction Act. But let’s be honest, all this is not sinking in with voters. Poll after poll finds them generally unhappy about how Biden is handling the economy and uncertain about where it’s headed, especially because of inflation. The good news is that prices are rising more slowly, but that’s coming off years of supercharged inflation, especially for groceries, which are up 25% since January 2020. Shoppers know this every time they walk into a supermarket — they see it and it’s maddening. People feel there’s nothing they can do, and it’s not like they can skip milk, eggs and bread. Today, Americans spend over 11% of their income on food, the highest amount in 30 years. Biden can’t fix high food prices, but he can point to what his administration is already doing to help Americans save money. For just a few examples: Increasing the amount of food assistance for low-income families. Moving to block the merger of the No. 1 and No. 2 supermarkets, which could limit competition and choice. Capping insulin at $35 per month, and next year capping Medicare prescription costs at $2,000 a year. Canceling $138 billion in student debt. In reality, until recently, consumers have kept paying even as prices rose. But once consumers decide that meal or that flight simply costs too much and businesses see demand suffer, there might be a change. The problem is that everyday items cost more. For economically vulnerable families, that can be crushing. For wealthier Americans, it’s annoying and cause for discontent. There’s a lot that is going right in the economy. It should be universally agreed on: It’s not a bad economy. Voters, however, are not economists and facts alone won’t convince them. Americans need to feel their financial lives are improving, and it’s on the president and his administration to show how they’re making that happen. And when Biden steps up to the podium Thursday evening, he has a chance to do just that.
State AGs send letter to Meta asking it to take ‘immediate action’ on user account takeovers 2024-03-07 20:02:36+00:00 - MENLO PARK, Calif. (AP) — A group of 40 state attorneys general have sent a letter to Instagram and Facebook parent company Meta expressing “deep concern” over what they say is dramatic uptick of consumer complaints about account takeovers and lockouts. The attorneys general called on Meta to do a better job preventing account takeovers — when malicious actors take a users’ accounts, lock them out by changing their passwords, and post their own material, read private messages, scam contacts and engage in other harmful or illegal behavior. The letter asks Meta to take “immediate action to increase mitigation tactics and respond to users whose accounts have been taken over.” It also asks the Menlo Park, California-based company to provide information on the number of account takeovers over the past five years, the suspected causes of the increase in account takeovers and safeguards it has in place. “Consumers are reporting their utter panic when they first realize they have been effectively locked out of their accounts,” says the letter dated March 5. “Users spend years building their personal and professional lives on your platforms, posting intimate thoughts, and sharing personal details, locations, and photos of family and friends. To have it taken away from them through no fault of their own can be traumatizing.” Even worse, the letter says, the takeovers pose a significant financial risk to users, who may be running businesses or have credit card information linked to their social media accounts. In a statement, Meta said scammers are constantly adapting to evade crackdowns. “We invest heavily in our trained enforcement and review teams and have specialized detection tools to identify compromised accounts and other fraudulent activity,” the company said. “We regularly share tips and tools people can use to protect themselves, provide a means to report potential violations, work with law enforcement and take legal action.”
Georgia House advances budget with pay raises for teachers and state workers 2024-03-07 19:49:01+00:00 - ATLANTA (AP) — The Georgia House is backing a state budget that would include pay raises for public school teachers and state employees, as well as boost spending on education, health care and mental health. The House voted 172-1 for House Bill 916 on Thursday. It would spend $36.1 billion in state money and $66.5 billion overall in the budget year beginning July 1. The measure goes to the Senate for more debate. “This is an awesome budget that addresses the needs of Georgians from every walk of life, from every part of Georgia,” said House Speaker Jon Burns, a Newington Republican. “Thank you to everyone who voted affirmatively on this bill. It’s good to see us all work together and find some things we can agree on that benefit the people we care so much about.” Spending would fall from this year’s budget after Gov. Brian Kemp and lawmakers supplemented that budget will billions in one-time cash, boosting state spending to $38 billion in the year ending June 30. Public school teachers would get a $2,500 raise starting July 1, boosting average teacher pay in Georgia above $65,000 annually, as the Republican governor proposed in January. That’s in addition to a $1,000 bonus Kemp sent out in December. Prekindergarten teachers would also get a $2,500 raise. State and university employees also would get a 4% pay increase, up to $70,000 in salary. The typical state employee makes $50,400. Combined, that’s more than $600 million in pay raises. Teachers previously received $7,000 in raises during Kemp’s first five years in office. Some employees would get more. State law enforcement officers would get an additional $3,000 bump, atop the $6,000 special boost they got last year. Child welfare workers would also receive extra $3,000 raises. Many judges would also get a raise under the plan. The House proposes spending more than $10 million to implement half of a plan to raise and standardize judicial pay, with House Appropriations Committee Chairman Matt Hatchett, a Dublin Republican, saying the second half would come next year. The House would also provide $15.2 million to boost the salaries of assistant district attorneys, with Hatchett saying low salaries were contributing to a shortage of prosecutors. Overall, Hatchett said, he believed pay increases are “moving the needle on employee recruitment and retention” for public agencies that have been seeing workers depart for higher pay. The state would spend hundreds of millions of dollars more to increase what it pays to nursing homes, home health care providers, dialysis providers, physical and occupational therapists, and some physicians. Most increases were proposed by Kemp, but $27 million more were added by the House. “Adequately compensating providers assures access to care,” Hatchett said. Adults who get health insurance from Georgia’s Medicaid program would see their basic dental care covered for the first time, at a cost of $9 million in state money, or $28 million once federal money is included. The House proposes spending $21 million more on domestic violence shelters and sexual assault response. Some of those agencies face big cuts in their federal funding. Hatchett said the money doesn’t directly offset the federal funds but said the state needs to pay for services that it mandates. House lawmakers would spend $6.33 million to provide free breakfast and lunch at public schools to children who currently pay reduced prices, but who aren’t judged poor enough to qualify for free meals. The budget also affirms Kemp’s plan to spend $104 million on school security and $205 million to boost the state’s share of buying and operating school buses. Representatives are also backing a plan to reverse a longstanding budget cut to the Department of Early Care and Learning, pulling prekindergarten class sizes back down to 20 children after years at 22.
Judge Blocks Debt Settlement Company From Resuming Operations 2024-03-07 19:45:15+00:00 - The federal government is likely to win in its lawsuit against Strategic Financial Solutions, a debt negotiation company covered in a Times investigation last month, according to a magistrate judge’s preliminary injunction granted this week that keeps it from operating. For years, Strategic Financial Solutions collected fees from thousands of low-income clients who enrolled with the company to negotiate down their debts. In January, the Consumer Financial Protection Bureau — along with the attorneys general of New York, Colorado, Delaware, Illinois, Minnesota, North Carolina and Wisconsin — sued Strategic and its operators, including its chief executive, Ryan Sasson, on civil fraud charges. In interviews with former employees and former customers of Strategic, many described the company as predatory and said its services often left people financially worse off. The company works with a nationwide network of accomplice law firms. Customers think they’re paying those firms to represent them in the high-risk process of debt settlement, but instead they are often funneled toward call-center workers with no legal training, and are sometimes unrepresented in legal proceedings. This week, a federal judge in the Western District of New York said that the debt-relief program run by Strategic and its associated law firms does not provide “appreciable economic benefit” to its customers, and that many who sign up for the “program are negatively impacted.”
Biden should deliver on Gaza in State of the Union and stop funding Israel’s war 2024-03-07 19:34:12+00:00 - As President Joe Biden navigates the funding of an increasingly indefensible war in Gaza, he faces a pivotal opportunity as he prepares to deliver his State of the Union address Thursday. It’s one reminiscent of his early days in the Senate. In July 1986, President Ronald Reagan announced he would not impose additional sanctions on South Africa’s apartheid regime. A few days later, when Reagan’s secretary of state, George Schultz, testified in front of the Senate Foreign Relations Committee, a young senator from Delaware joined the hearings and made passionate remarks criticizing the Reagan administration’s stance on the apartheid government. According to December’s New York Times/Siena College pole, Trump led Biden among young voters by a 6% margin. A majority of those young voters oppose additional weapons aid to Israel. “Dammit, we have favorites in South Africa. The favorites are the people who are being repressed by that ugly, white regime.” It was Joe Biden, then 43 years old, demanding that the Reagan administration place a timetable on South Africa to end apartheid. How strange it is then that for five months now the Biden administration has repeatedly said it has zero red lines or restrictions for the funding American taxpayers provide the Israeli military as it carries out its war against Hamas in Gaza, which has resulted in the deaths of over 30,000 people, mostly women and children, according to the Palestinian Health Ministry. As Biden prepares to address the nation Thursday, he is faced with a crucial opportunity to connect with the many young voters who, like him early in his career, are rallying behind people facing oppression. It’s not an easy task, for sure. But to lock in a win in 2024, Biden would do well to unite a Democratic Party that has fractured over funding Israel’s disastrous war. Appealing to millions of young voters to turn out for him in November is an important part of that process. Reports already show millennial and Gen Z voters under 45 have lower confidence in Biden than Donald Trump. According to December’s New York Times/Siena College pole, Trump led Biden among young voters by a 6% margin. A majority of those young voters oppose additional weapons aid to Israel. A plurality said Israel should stop its military campaign in Gaza. A majority of younger voters and half of those who voted for Biden in 2020 believe Israel is committing a genocide in Gaza, according to a poll by The Economist and YouGov. Voters under 45 grew up with the war on terror. They saw what happened in Afghanistan and Iraq — so many lives lost, trillions of dollars spent, and for what? The idea that Israel will not stop until Hamas is militarily defeated echoes the approach the U.S. took in those conflicts. Younger Democrats feel that there is likely no military solution to these conflicts, only solutions based in politics and diplomacy and addressing the root causes and grievances. Millennials are an anti-war generation; they elected Barack Obama president over Hillary Clinton, and then over John McCain, many to oppose the Iraq War. In the recent Michigan primary, 13% of Democrats voted “uncommitted” instead of for Biden as part of a campaign to signal voters’ unhappiness with the U.S.’s support of Israel’s conduct in Gaza. That’s more than 100,000 people in Michigan — a victory for the campaign, which had been looking for only 10,000 votes initially. It’s a significant number considering Trump beat Hillary Clinton by just about 10,000 votes in Michigan in 2016. Some say Biden doesn’t need to worry about these voters, that they’ll never vote for Trump. That’s true — they probably won’t vote for Trump. But they may choose to stay home, or vote for third-party candidates who are more forceful advocates for Palestinian lives. In a race as close as the 2024 presidential election, that’s likely just as bad for Biden. Biden is a centrist and he’s proved himself as a professional pivoter when the center of the party has changed. We’ve seen that in his 40-plus years in office when he’s pivoted on economic policy, climate, war, abortion and same-sex marriage. It’s time for a pivot on Israel and to treat Israel just as we would treat any other country provided billions in weapons funding. On Palestine and Israel, on the other hand, we are seeing the Democratic Party double down on a set of failed policies, and doing so even as any of the predicates of that policy — namely, the existence of an Israeli government interested in peace and Palestinian statehood — have vanished. I’m a Democrat. I want to see Biden win in November. It’s time for him to stop funding Israel’s war and to explore using diplomacy, not military offensives, in the region. I’m a Democrat. I want to see Biden win in November. It’s time for him to stop funding Israel’s war and to explore using diplomacy, not military offensives, in the region. This includes diplomacy to bring home all hostages still being held by Hamas, which Israel's current offensive has failed to do. His foreign policy experience in countries like Ireland, Bosnia and South Africa prove that he is capable of it. Nearly 40 years ago, Biden took a stand on apartheid and demanded the United States push for a timetable to end it. Now it’s time for him to do it again. People, especially younger voters, will be tuning into the State of the Union address hoping for an answer to the growing death toll of innocent Palestinians. This is Biden’s chance. If he wants to reach crucial younger voters, he needs to shift to where the center of energy is in the Democratic Party. The question of our time is whether democracy will prevail. As Americans, we must always stand with common people who defend their basic rights. We must stand with the Ukrainians who are giving their lives to keep their country free from Russian President Vladimir Putin’s domination. We must stand with the Palestinians who demand a state free from Israeli occupation and domination. We must stand with Israelis who oppose judicial coups and corruption in their government. And, we must stand up against the allies of those regimes who seek to end democracy here at home. I pray, for all our sakes, that the Biden administration corrects course — because our democracy cannot afford to pay the bill for disregarding Palestinian lives should it come due in 2024. CORRECTION (March 7, 2024, 4:15 p.m. ET): A previous version of this article misstated Biden’s age in July of 1986. He was 43, not 33.
So much for the challenge from ‘challenger’ banks 2024-03-07 19:16:00+00:00 - It was a nice idea while it lasted. So-called challenger banks, it was fondly imagined, would emerge after the 2008-09 financial crash and show the UK’s big four banks how the industry should be run. Their weapons would be new technology, superior service and brand names unsullied by bonuses and bailouts. More than a decade later, market shares in the industry haven’t shifted meaningfully, and here comes the latest example of a challenger bank finding the independent life to be challenging. Virgin Money – a combo with the former Clydesdale and Yorkshire banks via a 2018 deal – is provisionally minded to agree to a £2.9bn takeover by the Nationwide Building Society. The fact that the buyer is Nationwide means this isn’t a surrender to one of the big four (which probably wouldn’t be allowed to buy anyway); Nationwide sits in the industry’s second tier and so can be viewed as a different type of challenger. But it is a far cry from 2018, when the Virgin crew were talking about creating “the UK’s leading challenger bank” to offer “a genuine alternative to the large incumbent banks”. Now the rhetoric is about selling “to complete our journey” as a national competitor. Virgin’s shareholders will get a 40% takeover premium, which sounds handsome, but also reflects how the shares had drifted sideways or lower for five years. At the offer price of 220p, the terms are well short of Virgin’s last tangible book value of 360p. Shore Capital’s analyst thinks “management could have perhaps driven a harder bargain”. The uncomfortable truth, though, is that size remains an enormous advantage in retail banking, in terms of everything from funding costs to investment in new tech and whizzy apps. Assistance for challengers from regulators never really materialised. Given that the last trading news from Virgin was higher-than-expected arrears in credit cards, there is a certain commercial logic in selling to Nationwide now. There are few other candidates for a deal and opportunities don’t always knock twice. For Nationwide, the commercial rationale is reasonable. The society will become a clear No 2 in UK mortgages (behind Lloyds Banking Group) and gets a proper entry into business banking, thanks to the Yorkshire and Clydesdale heritage within Virgin. Post-deal assets of £366bn, total lending and advances of £283bn and 23 million customers are chunky figures. On the other hand, there will be few quick cost savings since the Virgin operations will be run as a separate entity for a few years. That’s one luxury of not being a plc: you can take your time on integration. Another luxury, it seems, is that you don’t have to ask your owners for approval. Nationwide’s members will not get to vote on how almost £3bn of capital will be spent, which hardly seems true to the democratic principles of the building society movement. The chief executive, Debbie Crosbie, a former long-serving Clydesdale banker, had better be correct that this deal makes long-term sense.
Can You Invest in ChatGPT Stock? Find Out Here 2024-03-07 19:00:00+00:00 - No matter your industry, you've probably heard about ChatGPT. ChatGPT, an abbreviation for Chat Generative Pre-Trained Transformer, is making headlines everywhere and shaking up how we live and work. In many ways, the artificial intelligence-powered chatbot platform developed by OpenAI, using natural language processing (NLP), is almost like talking to a human. If you're an investor, you might wonder how to get in on the ground floor of this AI revolution. Get BOTZ alerts: Sign Up However, at the moment, neither ChatGPT nor its parent company, OpenAI, are publicly traded, so there's no easy way to invest directly in ChatGPT stocks. However, you can invest indirectly through companies utilizing OpenAI's technology for their projects. By the end of this article, you should better understand what ChatGPT stock is and how to invest in it indirectly through publicly traded companies utilizing OpenAI's technology. You'll find out why investing in these companies can be a great way to capitalize on the ever-growing AI industry. Key Takeaway ChatGPT stock is not publicly traded, but you can invest indirectly through companies using OpenAI's technology. Microsoft Corporation NASDAQ: MSFT and NVIDIA Corporation NASDAQ: NVDA are top picks due to their AI integrations and partnerships. Understanding OpenAI and ChatGPT ChatGPT is an artificial intelligence tool produced by San Francisco-based research lab OpenAI. ChatGPT functions like Google Search for questions, where you can compose text on any topic and communicate with it just like you would with another person. In just two months after its launch on November 30, 2022, it acquired 100 million users and could revolutionize how we search the web and create content. It uses OpenAI's flagship product, GPT, a powerful NLP algorithm. GPT uses machine learning to generate human-like conversations for countless tasks, from content generation to customer service to search engine optimization (SEO). Every day, people experiment with the tool and make new discoveries about its abilities and uses. ChatGPT uses NLP to respond to questions, generate stories and conduct conversations. It’s an interface between humans and computers, allowing for more natural conversations between us and our machines. ChatGTP is particularly exciting because it's powered by OpenAI's deep learning algorithms, trained on millions of conversations across millions of posts containing multiple languages. It can quickly learn from any conversation. To do this, it combines several advanced technologies, such as reinforcement learning. It uses human feedback in its training loop to reduce harmful, untruthful or biased outputs. Its "unsupervised" approach means machine-learning algorithms can discover hidden patterns or data groupings without human intervention. By leveraging these tools, OpenAI has produced an AI-powered chatbot capable of conversing nearly as intelligently as a human. Investment Landscape in AI The investment landscape in the AI sector is as vast and expansive as the technology itself. Worldwide AI investments are projected to reach upwards of $200 billion by 2025. In 2023, AI startups attracted a record $50 billion in investments. A $10 billion investment from Microsoft into OpenAI ignited a frenzy, resulting in over 70 rounds of $100 million or more in venture capital funding for startups working on AI models and applications, with valuations soaring to new heights. However, concerns arose about the sustainability of this trend and how many successful players can emerge in a highly competitive field. One thing is clear: the surge in interest and funding is transforming AI from an experimental novelty into a mainstream business tool. The clear potential for high returns has made the sector a magnet for investors. With every passing year, AI systems become more sophisticated, capable of performing complex tasks that were once the exclusive domain of humans. This is particularly true in fields such as healthcare, where AI has been used to predict disease outbreaks, develop personalized treatment plans and even assist surgeons during operations. The market potential of AI is immense. As AI continues integrating into every facet of our daily lives, the demand for AI-powered solutions is only expected to grow. One report estimates that AI could contribute up to $15 trillion to the global economy by 2030. This represents a massive opportunity for companies operating in the AI market. AI technologies are not only transforming businesses but also have the potential to revolutionize various aspects of society. It's becoming increasingly apparent that AI can improve education and healthcare, address climate change and even enhance public safety, and the use cases are becoming more apparent all the time. Investing in OpenAI What is ChatGPT stock, exactly? Currently, it's nonexistent. Chat GPT stocks are not publicly traded, so the best way to invest is through companies that use OpenAI's technology. You can also consider investing in AI exchange-traded funds (ETFs), which include a diversified portfolio of stocks within the artificial intelligence industry. Lastly, you can monitor the news and wait for an initial public offering of the company itself, then buy stock in it. Neither ChatGPT nor its parent company, OpenAI, are currently publicly traded. However, that doesn't mean there aren't ways to capitalize on the growth and popularity of OpenAI as an investor. Here are some ideas. Invest in Companies that Use OpenAI However, you can invest indirectly through companies using OpenAI's technology, such as Microsoft Corporation NASDAQ: MSFT and NVIDIA Corporation NASDAQ: NVDA. These companies have incorporated OpenAI's technology into their products and services, making them potential investment opportunities for those interested in ChatGPT's AI tools. For instance, Microsoft has been integrating OpenAI's technology since partnering with the company in 2019. It's utilizing OpenAI's GPT model for its Bing search engine, making GPT available to developers through its Azure OpenAI Service and Microsoft cloud storage. It continuously seeks ways to incorporate more AI into its products and services. NVIDIA is another potential investment opportunity for ChatGPT's AI tools. Many AI applications use NVIDIA's graphics processing units (GPUs), including ChatGPT's NLP. The company is also involved in cutting-edge research in deep learning and utilizes OpenAI's technology for its projects. AI ETFs Investing in AI ETFs could be a good approach if you're interested in ChatGPT but looking to minimize risk. These funds include a diversified portfolio of stocks within the AI industry, including those utilizing OpenAI's technology. As the AI industry and ChatGPT's potential grow, investing in AI ETFs might be an intelligent way to invest in AI stocks without betting on one specific company. ETFs such as the Global X Robotics and Artificial Intelligence ETF NASDAQ: BOTZ and the iShares Robotics and Artificial Intelligence Multisector ETF NYSEARCA: IRBO offer exposure to a wide range of companies in the AI industry, including those using OpenAI's technology. These ETFs offer the potential for long-term growth as the use of AI continues to grow across industries. Can You Invest in ChatGPT? OpenAI, the company behind ChatGPT, is currently not publicly traded. It was founded in 2015 to prevent AI monopolization by tech giants to develop "artificial general intelligence" for the benefit of humanity. Notable tech industry figures like Elon Musk and Peter Thiel initially supported OpenAI, but Musk resigned from the board in 2018 to avoid conflicts with his other ventures. In 2019, OpenAI became a "capped-profit" for-profit entity after receiving a $1 billion investment from Microsoft. Today, ownership is split between Microsoft (49%), other stakeholders (49%) and the original non-profit foundation. OpenAI LP handles the commercial side, while OpenAI Inc. remains a nonprofit umbrella organization. If you're interested in investing in ChatGPT, keep an eye on any updates regarding OpenAI's potential IPO. You can regularly search MarketBeat for news and other updates related to Open AI stock and its partners. Once it becomes a publicly traded company, you can purchase OpenAI stock through a broker or an online trading platform. However, before investing in any stock, no matter how promising the company seems, conduct thorough research, including checking the Chat GPT stock price history and analyzing its financials, management team and stock market trends. Risks and Considerations Investing in AI stocks, including those indirectly related to ChatGPT, can be quite lucrative, given the current trend towards AI and the increasing demand for smarter technology in different industries. With proper research and risk management, investing in ChatGPT or other AI-related stocks could be smart if you capitalize on technological advancements and companies leading the way. However, as with any investment, exercise caution. Always diversify your portfolio to minimize risk — don't put all your eggs in one basket, no matter how attractive the basket looks. Remember that investing in AI-related companies, like those incorporating OpenAI's technology, can be unpredictable and volatile. Moreover, ChatGPT and its parent company, OpenAI, are not yet publicly traded, so it may be wiser to consider investing in Microsoft stock or in buying stocks in other companies with a track record of success in the AI industry. Also, remember that the field of artificial intelligence is evolving faster than the government can regulate it. Regimes around the world grapple with defining their stance on AI. Legal frameworks governing AI are fluid and can change rapidly, possibly leading to sudden changes in business models or even outright shutdowns. Technological limitations also pose a risk. AI is not infallible. In many areas, the technology is imperfect and requires development and fine-tuning. For example, ChatGPT can still produce inept, harmful or irrelevant responses. Not to mention, AI systems can be vulnerable to various forms of manipulation or attack. This is a hot topic and has caused setbacks for companies involved in AI and may continue to in the future, impacting their financial performance and the value of their investments. There's always the risk of competition, too. The AI sector is packed with companies vying for dominance. Google, Amazon, and IBM are major competitors and have vast resources at their disposal, so there's high potential for sudden shifts in market dynamics. This can create volatility in the stocks of companies involved. While it can lead to innovation and growth, it can also result in some businesses failing to keep up with the pace of change or even going under entirely. Future Outlook of Investing in OpenAI and ChatGPT ChatGPT is poised to revolutionize the AI industry regarding its potential uses and ability to generate human-like conversations. As the technology continues to evolve and we discover new applications, there are a few trends that you can look for when considering putting your money in companies using ChatGPT technology. The first trend is the increasing use of ChatGPT in customer service settings. AI-powered customer service bots are becoming increasingly popular as they can provide quick, efficient and personalized responses. This trend will continue as businesses strive to increase customer service quality while reducing manual customer service costs. Second, ChatGPT is used in more creative ways than ever before. From natural language processing applications to generating stories and creating graphic design, ChatGPT can be used for various creative tasks, opening up new opportunities for businesses looking to expand. Finally, ChatGPT's ability to quickly process large amounts of data will increase demand for it in business settings. AI-powered chatbots can perform sentiment analysis (determining someone's attitude toward a product by analyzing their tone) and automated market research, leading to valuable insights into customer behavior and helping companies make more informed decisions. These developments suggest a promising future for ChatGPT and similar AI technologies. Choosing to invest, you could receive lucrative rewards if they continue. And if legislative support for AI technologies continues to emerge worldwide, it could cement the role of AI, providing a more secure landscape for your investment dollars. The Smart Approach to Artificial Intelligence ChatGPT will continue to grow, evolve and change how we live, work and communicate, making it an alluring investment. Although it's not publicly traded, you can indirectly invest in ChatGPT through companies using OpenAI's technology. Ultimately, whether or not to invest in ChatGPT, MSFT stock or other AI-related stocks is a decision you should only make after careful consideration, research and/or consultation with a financial advisor to ensure it aligns with your investment goals and risk tolerance. FAQs If you've read this far, you should now understand what a ChatGPT stock ticker is, what it does and the different investing options. But you may still have questions. Below, we've tackled the most commonly asked questions about investing in this revolutionary new technology. Is ChatGPT publicly traded? ChatGPT is not yet publicly traded, so you might not get the answer to what you want, “What is ChatGPT stock ticker?” OpenAI, the parent company of ChatGPT, is currently a non-publicly traded venture. As such, if you're interested in investing in ChatGPT, you must do it indirectly by investing in companies that use OpenAI's technology. What is ChatGPT used for? ChatGPT is machine learning software developed by OpenAI. It's an AI-powered text-generating tool that can generate human-like conversation. People have successfully used it for many applications, including natural language processing, content creation and dialogue generation for virtual assistants.
UK Insolvency Service seeks up to 15-year director ban for Lex Greensill 2024-03-07 18:52:00+00:00 - The Insolvency Service has begun legal action to have Lex Greensill disqualified from running companies for up to 15 years after the outcome of an investigation into the directors of his failed finance firm. The government agency said it had issued disqualification proceedings on behalf of the business secretary against the former Australian sugar farmer, who founded the Greensill group of companies. Greensill Capital – which specialised in supply-chain finance, where companies borrow money to pay suppliers – raised huge amounts from banks including Credit Suisse before it collapsed in March 2021. It became the subject of one of the UK’s biggest lobbying scandals after it emerged that David Cameron, the former prime minister who is now foreign secretary, had sent 62 messages during the Covid pandemic in 2020 to lobby ministers and officials asking for the then-struggling Greensill to be allowed access to the government’s coronavirus loan support scheme. The now Lord Cameron had joined Greensill as a lobbyist and adviser two years after he left Downing Street. The Treasury select committee found in July 2021 that Cameron had shown a “significant lack of judgment” in his actions to help the company, for which he worked and in which he owned stock options. In a statement at the time, Cameron said he had always acted in good faith, and had no idea until the end of 2020 that Greensill Capital was in danger of failure. The Insolvency Service said on Thursday it had issued disqualification proceedings on behalf of the business secretary using powers under the Company Directors Disqualification Act 1986. Records at the high court in London show a director disqualification claim has been launched against Greensill by the government, which is represented by the law firm Howes Percival. Greensill is represented by the law firm Ellerman. The records also show Greensill has launched a legal claim against the Department for Business and Trade for alleged “misuse of private information”, though further details of the case are not yet available publicly. Under the Company Directors Disqualification Act 1986, a court can make an order banning an individual from being a director or a director may offer to give a disqualification undertaking. Disqualification can last for up to 15 years. The Insolvency Service said: “We can confirm that the Insolvency Service has commenced director disqualification proceedings against Alexander (Lex) Greensill to have him disqualified from running or controlling companies for a period of up to 15 years in respect of his conduct as a director of Greensill Capital (UK) Limited and Greensill Limited.” skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion It said it could not comment further as the case was ongoing. A spokesperson for Lex Greensill said: “Lex Greensill recently issued proceedings against the Department for Business and Trade in the high court as a result of the Insolvency Service’s conduct during the investigation that led to this action. “Mr Greensill rejects this action as wholly without merit and will robustly address it.”
Shredded cheese recall over listeria concerns in 15 states affects food-maker Sargento 2024-03-07 18:51:00+00:00 - Sargento is recalling shredded and grated cheese products sold to food service groups in 15 states over concerns the cheeses could be contaminated with listeria. No Sargento-branded products sold in traditional grocery stores were affected. The recall has been linked to one supplier, California-based Rizo-Lopez Foods Inc., that has also affected numerous other cheese brands. Sargento released a statement saying its recall impacted "a limited amount" of its food service and ingredients products. "On February 5, out of an abundance of caution, Sargento voluntarily recalled the products that were supplied by Rizo-Lopez Foods Inc. and products that were packaged on the same lines," it said. "This recall did not impact Sargento-branded products. Sargento immediately terminated its relationship with Rizo-Lopez Foods Inc. and immediately notified our customers." According to the FDA, the wider Rizo-Lopez recall has resulted in 26 illnesses, including two deaths and 23 hospitalizations as of February 22. According to information posted on the Food and Drug Administration's website, the Sargento-specific recall affects thousands of various cheeses distributed to Arizona, California, Florida, Georgia, Illinois, Indiana, Maryland, North Carolina, New Jersey, Nevada, Ohio, Rhode Island, Texas, Washington and Wisconsin. The most heavily affected items were white cheddar cheese products, with 2,633 cases being recalled. These had best-by dates of between March and June 2024. The recall was initiated Feb. 5.
The Guardian view on national insurance: these taxes embody a solidarity we still need | Editorial 2024-03-07 18:45:00+00:00 - Before he unveiled his main tax cut in the 2024 budget this week, Jeremy Hunt criticised the fact that Britain collects two different types of taxes on earnings: income tax and national insurance contributions (NICs). The system has become too complicated, the chancellor said. It penalises work, he added, thus deterring a high-wage, high-skill economy. He then announced a cut in employees’ NICs by a further 2p, and ended: “Our long-term ambition is to end this unfairness … we will continue to cut national insurance.” Britain’s tax system is indisputably complicated. The case for clarifying it as far as possible is overwhelming, in part so that it can do the job required in today’s conditions, but also so that it can command the robust public support it demands, especially in populist times. But Mr Hunt is very wrong to caricature NICs as a penalising or reactionary tax. In many ways, NICs are the very opposite. One problem with the reputation of NICs today is that they have been radically transformed over the years from what was originally intended when they were introduced by David Lloyd George in 1911. Back then, NICs were less a tax on work than the foundation of the first British welfare state. They paid for health insurance for all wage earners and for unemployment relief in vulnerable industries. Then, as now, the tax was shared between employees, employers and the state, allowing Lloyd George to sell the scheme to workers as “ninepence for fourpence”. In 1911, this very column welcomed the National Insurance Act as “the greatest measure in our time both of public health and of social justice”. NICs were the rock on which the later Beveridge report and the National Health Service were built. But they have been subjected to countless changes over the years. The link between what you pay in NICs and the things to which you are entitled – including healthcare, benefits and the state pension, which was integral to the original system – has been severed. As Paul Johnson of the Institute for Fiscal Studies says in his book Follow the Money, NICs have evolved from an explicit social contract into a tax on earnings. Nevertheless, even today, the shared responsibility for paying NICs still represents the foundational, and to many people almost sacred, principle of the welfare state. NICs embody the selfsame core ethos of the NHS – now being celebrated in the National Theatre’s new “Nye” production – that there should not be one system for the rich and a lesser system for the poor. That is why the “N” in NHS and NICs matters. It articulates a nation that likes the ties that bind and does not wish to loosen them so thoughtlessly. This is not something to throw aside lightly. While income tax is based on the need for redistribution, NICs are based on the need for solidarity across class, age and gender. The two taxes may overlap, but they derive from different principles. This is not an argument for maintaining NICs untouched, or for returning to the system set out by Lloyd George. But it is an argument for ministers to make the moral case for taxation far more strongly and to construct a national tax system which embodies that national solidarity. To dismiss NICs as inherently unfair is a travesty of the truth. NICs were Britain’s foundational fair tax. If they are to be retired, then at the very least they deserve retirement with honour, and successors that are worthy of them.
Grocer Aldi to add 800 of its discount stores across US as Americans feel pinch of high food prices 2024-03-07 18:32:09+00:00 - Aldi plans to add 800 of its discount grocery stores across the U.S. in a five-year expansion plan as it looks to capitalize on cost-conscious Americans feeling the pinch at grocery stores. Inflation has led many consumers to change the way they shop. Tired of prices that remain about 19%, on average, above where they were before the pandemic, consumers are seeking new avenues to cut down on spending. In grocery stores, they’re shifting away from name brands to store-brand items, switching to discount stores or simply buying fewer items like snacks or gourmet foods. The growing consumer push back to what critics condemn as price-gouging has been most evident with food, as well as with consumer goods like paper towels and napkins. Pricing is also being eyed by the federal government, with the Federal Trade Commission suing last month to block a proposed merger between grocery giants Kroger and Albertsons, saying that the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans. Kroger and Albertsons, two of the nation’s largest grocers, agreed to merge in October 2022. U.S. prices for food eaten at home typically rise 2.5% per year, but in 2022 they rose 11.4% and in 2023 they rose another 5%, according to government data. Aldi said Thursday that its plan includes new store openings and store conversions. It’s looking to add almost 330 stores across the Northeast and Midwest regions by the end of 2028. The company will also add more stores in southern California and Phoenix and enter new cities, including Las Vegas. Aldi, which recently closed on its acquisition of Southeastern Grocers, said that it will convert a significant number of Winn-Dixie and Harveys Supermarket locations to its format over the next several years. “Our growth is fueled by our customers, and they are asking for more ALDI stores in their neighborhoods nationwide,” Aldi CEO Jason Hart said in a statement. The company, based in Batavia, Ill., just west of Chicago, will invest more than $9 billion into its national expansion.
Biden to focus on 'freedom' in State of the Union — a central theme of his re-election campaign 2024-03-07 18:15:00+00:00 - WASHINGTON — When President Joe Biden launched his campaign last April, the first word he uttered was “Freedom.” As he gives his most important speech as a candidate for re-election Thursday night, the president will return to the theme as a key pillar in making his case to the country. Biden will do so quite starkly, once again leaning on the example of one of his iconic predecessors. As the 46th president addresses the 118th Congress, he will invoke the 32nd president’s address to the 77th Congress, according to a copy of the speech that was visible in a photo his office published on X. In 1941, Franklin Roosevelt said he was speaking at an “unprecedented moment” in American history — months before the United States would join World War II with the Great Depression still fresh in mind. The Biden team’s focus on freedom and threats to democracy as a defining electoral issue has often invited criticism from allies, at a time when Americans’ perceptions of the economy, and of the 81-year-old president himself, are also expected to dominate the months ahead. Advisers understand the importance of Biden’s delivery in answering questions about his age, and agree on the need to help better connect the administration’s economic agenda and accomplishments to the improvements in voters’ everyday lives. But none of that will matter, aides counter, if America’s democracy falters, a reality the president will starkly warn is possible, and one his advisers say voters have already responded to. “There was language in the 2020 campaign that democracy and decency were on the ballot. There were voices that thought this was academic — too remote — but now there have been two elections whose results prove that not to have been the case,” the historian Jon Meacham, an informal adviser to the president who helped him prepare his speech, said in an interview. Roosevelt’s 1941 address became known as his “Four Freedoms” speech; he defined what he called the “four essential human freedoms” — of speech and expression, of worship, freedom from want, and freedom from fear. Biden, who has a framed painting of Roosevelt displayed prominently in the Oval Office, has already offered his own version of the four freedoms for the 21st century. In a speech that opened 2024, Biden said that freedom itself was on the ballot this year. “We’ll be voting on many issues: on the freedom to vote and have your vote counted, on the freedom of choice, the freedom to have a fair shot, the freedom from fear,” he said near Valley Forge, Pennsylvania. Each will be woven through his speech to Congress on Thursday, according to sources familiar with the address, who emphasized that it was still subject to further revisions. Biden’s State of the Union address Thursday will be one full of both symbolism and substance, with every policy discussed and even the delivery itself seen through the lens of November. But to the small circle of advisers crafting the address, it is quite simple. “This is a speech about Joe Biden,” as one senior administration official put it. Biden, they said, will “frame this moment in history, and offer a path for the future.” In Biden’s re-election announcement video, he said the question facing Americans is “whether in the years ahead we have more freedom or less freedom. More rights or fewer.” It’s been a consistent theme that even pre-dated the launch, though, one that Biden advisers felt was made all too clear in the events of Jan. 6 — 80 years from the day of the Roosevelt speech Biden will reference. And it was brought into a new context by the Supreme Court’s Dobbs decision in 2022, which showed the threats to individual freedoms more broadly. Vice President Kamala Harris, who has been traveling on a “Fight for Reproductive Freedoms” tour, made that immediate connection after the release of the Dobbs decision, which overturned Roe v. Wade and the constitutional right to abortion. “The great aspiration of our nation has been to expand freedom, but the expansion of freedom clearly is not inevitable,” she said then. “It is not something that just happens — not unless we defend our most fundamental principles.” She repeated that Sunday during remarks in Selma, Alabama, calling the right to vote “the freedom that unlocks all others.” In recent campaign appearances, Biden has also warned that former President Donald “Trump and his MAGA friends are determined to take away our fundamental freedoms.” And in advocating for securing funding for Ukraine, Biden has presented a choice: “Are you going to stand up for freedom, or are you going to side with terror and tyranny? Are you going to stand with Ukraine, or are you going to stand with Putin? Will we stand with America or — or with Trump?” It shows what one Democratic strategist who works closely with the White House said was the great quality of freedom as a theme — its versatility. “It’s definitely something that all Democratic pollsters are testing more now, taking their cues from the speeches they hear" from the administration, the strategist said. “Republicans tried to run with that, but they became the party of banning books and banning LGBT clubs on school campuses, banning abortion and banning people’s rights.” Republicans, of course, haven’t fully conceded the theme. South Dakota Gov. Kristi Noem, a possible Trump vice presidential choice, used her State of the State address to highlight what she called her “freedom works here” agenda, including the “freedom to keep and bear arms,” the “freedom to farm and ranch,” and “freedom to be secure.” But to Biden, freedom and democracy are intertwined as unique themes in part because of the threat he believes Donald Trump poses. “Democracy is nothing if it does not defend individual freedom against the whims and ambitions of an autocratic force. So I think an argument about freedom is the natural extension of the defense of democracy because they’re so closely entwined,” Meacham said. “Like any responsible president, President Biden has adjusted the intensity of the argument as the facts have warranted. It’s an organic argument, not a static one.”
Vital Farm’s Earnings: More than Sunny Side Up 2024-03-07 18:12:00+00:00 - Key Points Vital Farms demonstrates a strong growth trajectory, with revenue outpacing the ethical food market. Vital Farms' ethical focus differentiates it within the competitive food industry. Investor interest in Vital Farms is high, but economic uncertainty and market competition pose challenges. 5 stocks we like better than Vital Farms Vital Farms NASDAQ: VITL has been disrupting the consumer staples sector by bringing ethically sourced foods to your table since 2007. The company’s mission has captured the attention of investors interested in Vital Farm’s sustainability efforts and its ethically conscious business strategy. The company's consistent revenue growth and recent earnings beats have fueled a narrative of a high-potential growth stock. However, with economic uncertainty looming, investors and the Vital Farms analyst community wonder if the company can remain competitive or if it will crack under the pressure. Get Vital Farms alerts: Sign Up Cracking Open the Financials Vital Farms' recent financial performance has been nothing short of impressive. In the fourth quarter of 2023, the company reported a 23.4% year-over-year increase in revenue, solidifying its fourth consecutive earnings beat. Looking at the full fiscal year 2023, the picture remains positive, with revenue growth of 30.3% compared to the prior year. A combination of factors is driving this impressive top-line growth. Strategic price increases have helped Vital Farms offset rising input costs, such as feed grains, while volume expansion through new retail partnerships has broadened its customer base. The company has also shown progress in profitability. Net income for the full fiscal year 2023 soared to $25.6 million, compared to just $1.2 million in the prior year. A similar trend is observed in adjusted EBITDA, a key metric used to assess a company's operating profitability. These financial indicators suggest Vital Farms is not just growing quickly, but also managing its costs effectively and translating revenue growth into rising profits. A Deeper Look at Vital Farms' Financials Assessing Vital Farms' growth trajectory in 2024 requires a comprehensive analysis that goes beyond the impressive 30.3% revenue growth rate. To gain a deeper understanding of Vital Farm’s financial performance, it is essential to contextualize this figure within the broader ethical food market. This approach provides a clearer perspective on Vital Farms' relative success and ability to capitalize on prevailing market trends. A recent report by The Business Research Company estimates that the global ethical food market will reach USD 181.58 billion by 2028, reflecting a compound annual growth rate (CAGR) of 7.4%. This signifies a sustained and consistent growth trajectory for the ethical food sector, fueled by several key factors: Shifting consumer preferences: Consumers increasingly demand sustainable and ethically sourced food products, driven by concerns about environmental and social issues associated with conventional food production. Consumers increasingly demand and ethically sourced food products, driven by concerns about environmental and social issues associated with conventional food production. Rising disposable incomes: In emerging markets, growing disposable incomes lead to a higher demand for premium food products, including those aligned with ethical values. When compared to the ethical food market's CAGR of 7.4%, Vital Farms' 30.3% growth in 2023 demonstrates significant outperformance. This suggests that the company is effectively capturing market share and capitalizing on the growing demand for ethical food options. Beyond Eggs: A Diversified Product Portfolio While pasture-raised eggs remain Vital Farms' core product offering, the company has implemented a strategic product diversification initiative to cater to a broader range of consumer needs and expand its market reach. This approach goes beyond offering various egg options, such as hard-boiled eggs, liquid whole eggs, and cage-free brown eggs. Recognizing the growing consumer interest in ethically sourced food beyond breakfast, Vital Farms has ventured into new product categories by introducing ethically sourced butter. Vital Farms' strategic product diversification initiative showcases a proactive approach to capturing a larger share of the ethical food market while mitigating risk and strengthening its brand image. This multi-faceted approach allows the company to meet the evolving needs of its customer base and position itself for sustainable growth in the ethical food sector. Vital Farms, Navigating a Crowded Coop Vital Farms is one of many players in the ethical food market. Established brands and emerging startups compete for consumer attention and grocery shelf space. Understanding the competitive landscape is crucial for investors. One key competitor might be "Beyond Eggs," a subsidiary of Beyond Meat NASDAQ: BYND, which offers plant-based alternatives to traditional eggs and meat products. While Beyond Eggs doesn't directly compete on the ethical sourcing front, it does target consumers who prioritize avoiding animal products altogether. Another competitor could be an established egg producer such as Egglands Best, which has launched its own “cage-free" or "pasture-raised" egg product line. Cal-Maine is another competitor in the egg industry to keep an eye on. It's essential to compare the product offerings, pricing strategies, and brand reputation of Vital Farms to its key competitors to gauge its competitive positioning. Management Outlook and Future Strategy While Vital Farms' growth story is compelling, investors should approach their decisions with a balanced perspective. A recent development that has garnered some attention is the sale of company shares by Vital Farms' CEO and COO on multiple occasions in the recent past. Insider sales can trigger concerns about a lack of confidence in the company's future. Another consideration for investors is Vital Farms' current analyst ratings. While some analysts have a "Buy" rating and optimistic price targets, there's also a degree of caution. For example, TD Cowen NASDAQ: COWN rates Vital Farms as a "Market Perform," signifying they believe it will grow in line with the broader market but are not anticipating outsized returns. Vital Farms' management team has articulated an ambitious growth vision and has provided specific guidance for 2024. They project revenue growth exceeding 17% on an impressive base and a similar boost to profitability (as measured by adjusted EBITDA). The company's long-term goal is to break the $1 billion revenue mark. Achieving these targets will depend on its ability to continue building strong distribution partnerships with retailers, maintain brand awareness, and navigate rising input costs. Before you consider Vital Farms, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vital Farms wasn't on the list. While Vital Farms currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here