More from Brent Jabbour
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The ‘little guy’ may have the biggest say in Disney’s $70 million proxy fight
The fierce boardroom battle over Disney’s direction heads to a vote during the week of March 31. It is expected to be the most expensive proxy fight in history, with all sides dropping a collective $70 million to influence shareholder votes. Disney’s main foe is activist investor Nelson Peltz, who wants two seats on the… -
Is higher credit card debt actually good for the economy?
Americans are facing a record amount of credit card debt in 2024 at more than $1 trillion total. Adjusted for inflation, WalletHub says credit card debt is about 10% below its peak, which Americans hit in 2008 during the Great Recession. However, WalletHub estimates growing balances this year could put the inflation-adjusted record in striking… -
US credit card debt nearing 2008 record when adjusted for inflation
Credit card debt in the U.S. hit a record at the end of 2023 while high interest rates continue to push the debt balance even higher this year. The Federal Reserve recently reported U.S. credit card debt reached $1.13 trillion in the fourth quarter of 2023, up $143 billion from the year before. According to… -
SEC warns companies against ‘AI washing,’ announces $400,000 penalty
AI is the new buzzword in business and the Securities and Exchange Commission is putting companies on notice for how it’s used. On Monday, March 18, the SEC fined two investing firms a collective $400,000 for “AI washing,” named after greenwashing. “One shouldn’t greenwash and one shouldn’t AI-wash, I don’t know how else to say… -
Blame game: What’s causing massive layoffs in video games amid record year?
Projects are being canceled and studios shuttered amid a wave of layoffs in the video game industry that has put thousands out of jobs. But many are wondering what’s driving these deep cuts after video game revenue hit another record in 2023. The new year is off to a rough start for those working in… -
1 year after banking crisis, is NYCB the early sign of another?
A year ago, New York Community Bank was in a position of strength. Amid last year’s banking crisis, the bank’s subsidiary took control of $38 billion in assets from failed Signature Bank. But this week, it was New York Community Bank that required a billion-dollar boost. Donald Trump’s former Treasury secretary, Steven Mnuchin, orchestrated the… -
Dartmouth basketball players made history with union vote. What now?
For a team that loses more than it wins, Dartmouth College basketball players racked up two victories on March 5. They bested Harvard in the season finale and voted to be the first college athletes to unionize. Voting 13-2, Big Green’s basketball players elected to join Service Employees International Union Local 560, which already represents… -
Confidence in economy takes another hit. Here’s what’s behind the bad vibes.
Americans’ confidence in the economy is wavering. After three consecutive months of growing consumer confidence, The Conference Board’s index took a hit in February. Economists all over the map continue to point out that the U.S. economy is very strong right now. They can’t quite put a finger on why many Americans don’t feel the… -
Why major cities are slashing services to pay for the migrant crisis
Bus after bus, major cities far from the border are starting to buckle under budgetary pressures of the nation’s migrant crisis. S&P Global Ratings is monitoring the credit health of New York, Denver and Chicago as they face sheltering tens of thousands of asylum-seekers. “The issue will destroy New York City,” Mayor Eric Adams said… -
How ‘sanctioned’ Russian diamonds made their way to the US
For two years now, Ukraine has battled for its sovereignty. Russia’s invasion is reducing cities to rubble and thousands of civilians have died in the conflict. A new report said Russia can sustain its assault for another two to three years, maybe even longer. Did diamonds purchased in the U.S. help pay for this war?… -
Lab-grown versus natural diamonds: Which one is the real deal?
For decades, diamonds have been the symbol of lasting love. But the industry is in for a generational reckoning as young people decide whether to buy natural diamonds, lab-grown diamonds or forgo the tradition altogether. In 1954, scientists with General Electric created a machine that squeezed carbon under 1.5 million pounds of pressure per square… -
Conservatives reject Trump’s plea to give Bud Light a second chance
Donald Trump has a famously loyal following. So loyal, he once said, “I could stand in the middle of Fifth Avenue and shoot somebody and I wouldn’t lose any voters.” But that loyalty does have its limits, and that limit is Bud Light. Not even the most popular conservative figure in a generation can convince… -
Is Elon Musk a threat to Delaware’s core business?
After a Delaware judge struck down Elon Musk’s $56 billion Tesla compensation package, Musk put the state in his crosshairs with a series of posts encouraging companies to flee America’s corporate kingdom, as he hopes to do with Tesla. Given Musk’s influence, are his actions a real threat to Delaware? Around 2 million companies are…