1) A second major newspaper, the Reading Eagle of Pennsylvania, has been bought out and all of its 221 employees laid off, less than a month after the same thing happened to the New Orleans Times-Picayune. It is reported that within the next five years all the major newspapers will fold up, displaced by technology, because the print media is unable to compete with newer news distribution technologies.
2) Sears, after waves of closing its traditional stores, has embarked on a new marketing strategy with the opening of its first ‘Home & Life’ stores, smaller format stores selling mainly mattresses, appliances and connected home products. Sears is pinning its future on this marketing strategy to reclaim ground from the lost of their old department stores, at a time when thousands of traditional box stores are being closed across the county.
3) The motorcycle manufacture Harley-Davidson is taking a new but risky strategy to rejuvenate its sales, by using loans to reach new riders. Their revenues had been coming from the more affluent baby boomers who are better able to purchase their product. In addition to coming out with new models, including an electric bike that target the younger generation, the company will use in-house financing to make it easier for young people to purchase their product.
4) 24 MAY 19 Stock market closings:
Dow 25,585.69 up 95.22
Nasdaq 7,637.01 up 8.73
S&P 500 2,826.06 up 3.82
10 Year Yield: up at 2.32%
Oil: up at $59.02