Author: Georgia McKoy

Sickles Market, a New Jersey staple, has hit a rough patch, filing for Chapter 11 bankruptcy.  Imagine over a century of serving communities, suddenly halting. “Sickles Market began over 116 years ago as a farm,” the company reveals on their website. Seasonal Origins Source: Sickles Market/Facebook Originally a small, seasonal operation, Sickles evolved dramatically in 1999 into a year-round affair.  This transformation brought them from a humble farm stand to a beloved local grocery chain, expanding their offerings beyond just fruits and vegetables. Diverse Offerings at Sickles Market Source: Sickles Market/Facebook Not just any grocery store, Sickles boasted a range…

Tesla has cut its entire Supercharger team.  “What a wild ride it has been,” shared William Jameson, the strategic charging programs lead at Tesla on social media platform X, formerly Twitter. This bold move by Tesla has left numerous employees out in the cold, signaling a major restructuring within the company. Musk Cites Intense EV Market Competition for Job Cuts Source: Wikimedia Commons In the face of growing competition from more cost-effective electric vehicle options, Elon Musk announced a 10% reduction in Tesla’s workforce.  He pointed out the critical need for austerity, stating in a company memo, “We need to…

President Joe Biden has proposed a significant increase in the capital gains tax rate, which would raise the top rate to 44.6% from the current 20%.  This change targets high-income earners, particularly affecting those with an annual taxable income exceeding $1 million. The administration believes this could help address the racial wealth gap. The Demographic Impact of Tax Changes Source: Avinash Kumar/Unsplash Newsweek reports that the demographic most affected by the proposed changes in capital gains taxes are predominantly white, as stated by the administration. Implementing this policy is part of a broader strategy aimed at reducing racial disparities in…

President Joe Biden finds himself under mounting political pressure to tighten sanctions on Russia, Iran, and Venezuela, key players in the global oil market.  As reported by Bloomberg, any move to intensify these sanctions might drive U.S. gas prices higher, posing a delicate challenge during a politically sensitive election year. Global Oil Dynamics Under U.S. Sanctions Source: Wikimedia Commons According to the International Energy Agency, the trio of Russia, Iran, and Venezuela supplies about 13% of the world’s oil.  Restricting this flow could directly spike gas prices nationwide, adding economic tension to an already volatile market situation. Tracking Gas Prices:…

Montana Distillery, a well-known producer of a variety of spirits, has filed for Chapter 11 bankruptcy as of April 29, according to documents submitted to the U.S. Bankruptcy Court for the District of Montana.  This move comes four years after the company relocated to try and slash costs in the face of ongoing financial struggles. Financial Woes Come to Light Source: the_montana_distillery/Instagram Montana Distillery’s recent bankruptcy filings reveal the depth of its financial troubles, with assets up to $50,000 and liabilities soaring between $500,000 and $1 million.  These figures lay bare the significant financial hurdles the distillery is trying to…

McDonald’s CEO Chris Kempczinski reported on the impact of California’s minimum wage increase on labor costs across the country during the company’s earnings call.  He stated, “There is certainly labor inflation. Much of that is coming out of what happened in California,” linking the state’s policy changes directly to rising operational costs nationwide. Projections of Labor Cost Increases Source: chrisk_mcd/Instagram The CEO further projected that the company is bracing for “high single-digit labor inflation” across the United States. This expectation is largely attributed to the aftermath of the California minimum wage increase. Kempczinski also remarked that other costs such as…

Utah Lake has just unlocked its gates, sending a wave of water toward the Great Salt Lake, which has hit rock-bottom levels.  “Our reservoirs are full,” says Wade Tuft, underlining the importance of this momentous event. Great Salt Lake: The Largest Saltwater Lake Source: iStock Utah’s Great Salt Lake is the largest saltwater lake in the Western Hemisphere. At only 16 feet deep, the lake’s area changes drastically depending on its water level. At its height in 1980, Great Salt Lake spanned 3.300 square miles. Water Sources for Great Salt Lake Source: iStock The lake gets its water from three…

After ten years, wealthy white Baton Rouge residents have finally clinched victory in a contentious legal battle to form their own city, St George.  They aimed to split from poorer, predominantly black neighborhoods, promising better schools and lower crime rates. Louisiana Supreme Court Greenlights St George Source: Wikimedia Commons The Louisiana Supreme Court has spoken: St George, encompassing a 60-square-mile area and 86,000 residents, can now officially separate from Baton Rouge.  The new city will have its own mayor and city council, a fresh start for its community. Why Form St George? Source: Wikimedia Commons Proponents of St George argue…

In the heart of California, a stronghold for Tesla enthusiasts, a significant shift is occurring. New car buyers are now thinking twice about joining Elon Musk’s $605 billion venture. Once leading the pack, the Tesla Model 3 has fallen to third place, outpaced by the Toyota Camry and Honda Civic, according to the California New Car Dealers Association. Toyota and Honda Surge Ahead Source: Christina Telep/Unsplash This quarter, Toyota clinched the title of California’s favorite car brand with a robust 9.3% rise in registrations.  Honda is also on the rise, boasting an impressive 18.6% increase. Tesla, on the other hand,…

It’s been nearly one month since California’s minimum wage hike, impacting restaurants with a sharp focus on a long-needed adjustment.  Yet, this pivotal shift brings a mix of challenges in the competitive, post-pandemic business terrain. As many restaurateurs find, staying afloat without sacrificing quality or customer satisfaction is a tall order. Rising Costs at Your Favorite Spots Source: Chipotle Mexican Grill/Facebook The Wall Street Journal reports that patrons are starting to feel the sting of increased prices, a move warned by executives from big names like Chipotle and McDonald’s. This uptick comes as California’s minimum wage jumps to $20 at…