1) The oil cartel OPEC and their allies are being called on for dramatic action to avert a crash in oil prices. They are being called on to cut production of crude oil to keep oil prices high, while the world is facing a looming flood of oil from American production. If they don’t restrict production, the world faces an oversupply of about 800,000 barrels per day in the first half of 2020.
2) Businesses are under a constant threat of ransomware attacks with increasing consequences of financial loses. Every business or organization from large corporations, health care systems, universities and small businesses are at risk. These targets must use defensive methods, but those costs time, money and resources to do. The FBI estimates there are several thousand ransomware attacks each day.
3) Stock market closings for – 4 DEC 19:
Dow 27,649.78 up 146.97 Nasdaq 8,566.67 up 46.03 S&P 500 3,112.76 up 19.56
1) For 80 years Boeing Aircraft has operated as an ‘association of engineers’, but this changed in 2001 when the upper management who came from MacDonnel Douglas (a failed company), elected to move Boeing’s corporate headquarters to Chicago. The rational was upper management shouldn’t be close to a principal business, because the corporate center is inevitably drawn into day to day business operations. With this, Boeing became a financially driven business instead of engineering driven, with decision based on cost cutting instead of safety. This has resulted in the 737 MAX fiasco now being played out.
2) Apple has started construction of its $1 billion dollar campus in Austin Texas, which is beside its new MacBook Pro laptop manufacturing facility. The 3 million square foot campus will have 5,000 employees with capacity to grow to 15,000. Currently, Apply employs 7,000 people in Austin. This is seen as another move by Apple to limit its manufacturing in China.
3) Walmart is redesigning its grocery department in order to counter impending competition to traditional brick-and-mortar from online giant Amazon. Already the country’s largest grocer, Walmart will widen aisles, add low profile displays in the produce departments, an organic shop and update signage throughout its stores. These changes are expected to be improvements for the customers and workers.
4) Stock market closings for – 20 NOV 19:
Dow 27,821.09 down 112.93 Nasdaq 8,526.73 down 43.93 S&P 500 3,108.46 down 11.72
#EFRPod we are back @ it once more, Sammy BE @ecofiretv, James Lyman @obsoletepeople & on the boards Magic Jon Don Sterling @thedramablock . We are the EFR Podcast show live and direct in your area.
This episode #EFRPod, we had the dubious pleasure to interview an an established entrepreneur business consultant, author, and motivational speaker, who happens to write for business/entrepreneur publication, INC. Magazine and he has lectured on the TED Talks lecture series; his name is Mr. Damon Brown @BrownDamon .
Damon came on to discuss entrepreneur development, generational entrepreneurial leadership, future business leadership models, what it takes to be a leader in business and in life, and his life successes and failures, and how he was able to evolve in his business mentorship role, and help others to achieve their goals and life long dreams.
1) Threat of a ‘no deal’ Brexit has the British pound falling relative to the US dollar and euro. The new British prime minister Boris Johnson announced the annual suspension of Parliament would be extended until 14 October, just two weeks before the UK is set to leave the European Union. This suspension is considered a move to block a no-deal Brexit within the UK parliament.
2) If General Motor exits from China, it will mean billions of dollars of profit lost. President Trump’s threatening order for American business to leave China would leave GM the hardest hit of the big three American automakers. While most of GM’s profits comes from North America, it makes about 43% of it annual auto sales in China. This would also mean the loss of all future growth potential, leaving it almost a North American only company, since GM has sold off its European operations.
3) The international gold market is falling prey to a forgery crisis. Gold bars are being stamped with logos of major refineries which makes them of questionable purity. These fake bars are being used as a means to launder cash money or trafficking illegally mined gold. The fakes became apparent when gold bars were found with identical serial numbers. In 2017 and 2018 there were 655 forged bars reported. Gold Kilobars are the most common form of gold in circulation and are worth about $50,000 each
4) Stock market closings for – 28 AUG 19:
Dow 26,036.10 up 258.20 Nasdaq 7,856.88 up 29.94 S&P 500 2,887.94 up 18.78
And Yes We’re Back Like Never Before. It’s the EFR Podcast Show featuring me (Sammy BE/Bizman Bassey) @EcoFireTV, James Lyman @ObsoletePeople & on the boards Jon Don Sterling @TheDramaBlock.
On this episode #33, the group interviewed social media manager Keith Dorsey @YoungGunsCEO. He happens to assist managing the careers of online mega stars such as RobbiiWorld, Hollywood Dollz & Woah Vicky.
came on the show to discuss social media presence, online platforms,
attaining a lucrative online following and base, as well as productive
advise for young entrepreneurs, trying to thrive in media… This is an
episode you got to listen to…..
1) America now has such a surplus of natural gas, that it’s being burned off instead of sold and used. The problem isn’t a lack of a market to sell to, rather it is insufficient distribution infrastructure. There isn’t enough pipeline capacity to get the gas from the oil fields to customers. In West Texas, enough gas is burned off each day to fuel every house in Texas. Natural gas prices are negative in some areas as producers pay people to take the gas off their hands.
2) The international banking giant Deutsche Bank is getting out of the investment banking by closing its equities business. This restructuring will result in posting a $3.1 billion dollar loss for the second quarter and an overall loss of $8.3 billion dollar into 2022. Additionally, there will be a loss of 18,000 jobs or one fifth of their labor force.
3) The summer labor force of teenagers is shrinking as American youth opt for summer school and extracurricular activities. Only about 40% of highschool age kids are working during their summer vacations, compared to more than 60% in the twentieth century. This leaves businesses with a dilemma of find enough workers, especially those business which are more active in the summer months and need that extra short term labor boost. Much of this shift is because of increased emphasis on education for the young, who opt for summer school and summer college prep programs instead of earning some pocket money.
4) Stock market closings for- 8 JUL 19:
Dow 26,806.14 down 115.98 Nasdaq 8,098.38 down 63.41 S&P 500 2,975.95 down 14.46
1) The cultivation of marijuana is the fastest growing industry in the U.S. generating $10.4 billion dollars in 2018 while supporting an estimated 500,000 jobs by2022. But starting a cannabis business is harder than most small business startups because it’s harder to do basics such as opening a bank account or leasing office space. Startup finance is a major problem since marijuana is still illegal federally.
2) New jobs for June exceeded estimates by economist, with 224,000 compared to 72,000 in May. The jobless rate crept up to 3.7% from a half-century low of 3.6%. Average hourly earnings increased 3.1% less than expect. The high number have brought on fears that the Federal Reserve will forego an interest rate cut for the near future. Despite the good news, the economy still faces trade tensions and possible inflation.
3) As many as 10 million Samsung-Android phones users have been tricked into installing firmware updates, but the software is actually an app that re-directs the user to an ad-filled website that charges for firmware downloads. A fake Samsung app named ‘Updates for Samsung’ is touted as firmware updates. The fake software takes advantage of the difficulties in getting software updates for the Samsung phone. Users complain that the site is loaded with ads making it very difficult to use, plus the app limits download speed to 56 KBS so large updates actually time out. While the app isn’t malware, it is fraudulent and a scam.
4) Stock market closings for- 5 JUL 19:
Dow 26,922.12 down 43.88 Nasdaq 8,161.79 down 8.44 S&P 500 2,990.41 down 5.41
1) The U.S. economy has entered its 121st month of economic growth setting a new record. Some experts are saying the real economic recovery may only be in its infancy. It’s just this last year that the gross domestic product caught up with estimates of its potential. Periods when GDP exceed potential are when workers typically enjoy the greatest wage gains. There are concerns of a changing environment with global trade disputes and other risks slowing down the economy.
2) Another daily newspaper has announce it is closing down, in what this year has been a rash of daily newspaper closing as well as massive layoffs. The Vindicator of Youngstown Ohio, which just celebrated its 150th anniversary, will cease publication the end of August, with 144 people losing their jobs. Virtually all daily newspapers have had deep cuts in staff these last couple of years, giving credence to the prediction that all the daily newspapers in America will be gone in ten years, displaced by newer mass media technologies.
3) The Payless ShoeSource is going out of business, closing all of its 2,500 retail stores. Once the largest and most successful family owned business in the country, the chain is succumbing to competition from big-box stores and on-line retailers. Founded in the 1960s, its demise could be the largest retail liquidation in history. Payless strategy uses customer self help allowing a minimal labor force of one manager and a couple of cashiers.
4) Stock market closings for- 2 JUL 19:
Dow 26,556.14 up 19.32 Nasdaq 7,958.05 up 45.06 S&P 500 2,926.73 up 12.95