Thanksgiving items are running out of stock, prices are shooting upward, and retailers are cutting down on promotions, according to a recent market analysis report from IRI, a research firm that tracks retail sales in the United States. The continuing supply chain issues are impacting stores across the country with supermarkets and stores making adjustments…
Meat and Pies Running Out of Stock This Thanksgiving: IRI
November 18, 2021
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Backlog of Container Ships at California Port Reaches Record High
November 10, 2021
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The backlog of container ships at ports along Southern California’s coast has reached record highs despite the Biden administration’s push last month to get goods moving 24 hours a day, according to recent data. The supply-chain bottlenecks show little sign of easing, according to data from the Marine Exchange released Tuesday, which reveal that there…
LA Ports Break Records During Supply Chain Crisis
November 10, 2021
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The waters off the coast of Southern California continued to see record-breaking numbers of cargo ships this week as one city opened its harbor to help with the overflow. The ports broke a new record Nov. 9 with 168 ships waiting to unload goods. That included 55 ships drifting at sea, 48 at anchor, and…
South Korea Panics as China Tightens Automotive Urea Supply
South Korea is heavily dependent on China for imports of automotive urea, a product derived from coal. In mid-October, China reduced its urea exports due to a coal shortage. South Korea is now in a deep crisis as the country’s nearly 4 million diesel vehicles cannot operate without urea. Urea is the main component of…
Eversource Energy Company Warns of 15 Percent Rise in Winter Heating Bills
Eversource Energy on Wednesday warned that customers could see natural gas heating prices rise 15 percent, costing an average of $30 a month more compared with last year. In the company’s third-quarter 2021 earnings call on Wednesday, Philip J. Lembo, executive vice president and chief financial officer, cited rising prices post the COVID-19 pandemic, forecasts of a cold winter,…
Amazon Will No Longer Require Vaccinated US Warehouse Employees to Wear Masks at Work
November 4, 2021
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Amazon will no longer require vaccinated U.S. warehouse employees to wear masks at work starting on Tuesday unless they are mandated to do so by state or local laws, a spokesperson confirmed. “Throughout the COVID-19 pandemic, the health and safety of our employees has been our number one priority,” an Amazon spokesperson told The Epoch Times…
Experts Fear Biden’s Global Minimum 15 Percent Tax Rate on Big Corporations Could Harm Small Businesses
November 1, 2021
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Experts are concerned that President Joe Biden’s new global minimum tax rate of 15 percent on large multinational business will harm the small businesses that support them. Treasury Secretary Janet Yellen confirmed on Saturday that leaders of the world’s 20 biggest economies (G-20) have endorsed the “historic agreement” on new international tax rules, including a global…
Service at McDonald’s Slows as Company Feels ‘Pressure’ on Operating Hours Amid Labor Shortages: CEO
October 28, 2021
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Service at McDonald’s is getting slower while the company is feeling the pressure on its operating hours as it struggles to fully staff its restaurants, CEO Chris Kempczinski said. Speaking at the company’s third-quarter 2021 investor call on Wednesday, Kempczinski noted that McDonald’s is finding it “very challenging right now” to find skilled workers for jobs in its restaurants….
Coca-Cola Third-Quarter Earnings Top Analysts’ Estimates, Promoting It to Increase Its Annual Outlook
October 27, 2021
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Coca-Cola’s fiscal third-quarter earnings and sales exceeded Wall Street analysts’ estimates on Wednesday thanks to an improvement in its away-from-home channels such as restaurants, cafes, and cinemas, prompting it to increase its annual outlook again. In a press release, Chairman and CEO James Quincey said that Coca-Cola’s strategic transformation had allowed it to emerge from the pandemic as a stronger…
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Can Buying American Fix Broken Economy; Biden Policies Magnet for Migrants
Consumer good shortages, higher prices, and container ship chaos at California’s ports—all are symptoms of broken supply chains. So what if more goods were made in America? Would that fix the problem? We find out from author James Stuber, who studies these questions in his book, “What if Things Were Made in America Again.” And…