ALB Micki

Tuesday, December 3, 2024

'Global Oligarchy' Reigns

 A report published Monday by the humanitarian group Oxfam warns that decades of intensifying inequality have left the world in the grip of a "global oligarchy" under which the richest sliver of humanity owns more wealth than nearly everyone else combined—a state of affairs that undermines democratic institutions and international cooperation on climate, pandemics, and other crises.


Oxfam's analysis of data from the investment banking giant UBS found that the fortune controlled by the top 1% is now larger than the collective wealth of the bottom 95%.


Such inequality pervades the global economy, Oxfam noted, with a small number of corporations dominating key sectors. Nearly half of the global seed market, for example, is controlled by just two corporations, Bayer and Corteva. At the same time, just three U.S.-based financial behemoths—Blackrock, State Street, and Vanguard—oversee nearly 20% of the world's investable assets, around $20 trillion.


What's more, such massive corporations are increasingly run by billionaires: According to Oxfam, a billionaire either heads or is the top shareholder of more than a third of the world's leading 50 corporations.


"While we often hear about great power rivalries undermining multilateralism, it is clear that extreme inequality is playing a massive role," Oxfam executive director Amitabh Behar said in a statement. "In recent years the ultra-wealthy and powerful corporations have used their vast influence to undermine efforts to solve major global problems such as tackling tax dodging, making Covid-19 vaccines available to the world, and canceling the albatross of sovereign debt."


"Enabled by rich nations, the ultra-wealthy individuals and corporations they control that benefit from and perpetuate extreme inequality have long impeded international efforts to create a more equitable society."


Oxfam released its new report, titled Multilateralism in an Era of Global Oligarchy, ahead of the United Nations' annual high-level general debate, whose 2024 theme is "leaving no one behind: acting together for the advancement of peace, sustainable development, and human dignity for present and future generations."


The extreme concentration of global wealth at the very top directly undercuts such objectives, Oxfam argues in its new report, with the ultra-rich using the wealth they've accumulated to influence policy decisions that fuel destructive inequities.


"Extreme inequality is, consequently, both a cause and effect of a movement toward global oligarchy, broadly defined here as the ability of the ultra-wealthy to shape political decision-making in ways that increase their wealth," the report notes. "Democracies are afflicted, as the ultra-rich—often through the powerful corporate interests that act on their behalf—can tilt policymaking in their favor at the expense of the majority. Nor is the movement toward oligarchy confined by national borders. It is global, impacting political decision-making within countries and at the international level."


Behar said Monday that "the shadow of global oligarchy hangs over this year's U.N. General Assembly."


"The iconic U.N. podium is increasingly feeling diminished in a world in which billionaires are calling the shots," Behar added.


Oxfam argued the massive wealth gap between the rich and everyone else—as well as the chasm between the so-called Global North and Global South—is antithetical to the kinds of international cooperation needed to tackle existential emergencies, including the worsening climate crisis.


The report points to longstanding efforts by multinational corporations, ultra-wealthy individuals, and rich countries to obstruct efforts to establish more progressive global tax structures, depriving lower-income countries of revenue that could be used to combat the climate emergency and improve healthcare and education systems.


Corporations have also wielded their influence to tank efforts to reform patent laws that give pharmaceutical companies monopoly control over lifesaving therapeutics and vaccines, which had devastating consequences during the Covid-19 pandemic.


"Enabled by rich nations, the ultra-wealthy individuals and corporations they control that benefit from and perpetuate extreme inequality have long impeded international efforts to create a more equitable society, especially those led by Global South countries," the new report states. "The movement toward global oligarchy ultimately perpetuates neocolonial relationships, shaping policy in ways that further increase the wealth of ultrarich individuals, mostly in the Global North, at the expense of the Global South."

Oxfam argued Monday that only global solidarity "can reverse the movement toward global oligarchy."


"Global South governments and civil society organizations are leading the push for a [World Health Organization] pandemic treaty with strong provisions on technology transfer and benefit-sharing, a U.N. tax convention with ambitious standards on taxing corporations and the rich, and a new international debt architecture that facilitates comprehensive debt restructuring," the report states. "These initiatives are critical opportunities for the international community to replace division with solidarity, a necessity for addressing other pressing issues such as climate change."


"Ultimately," the report adds, "a more equitable international order without extreme concentrations of wealth—where corporations pay their fair share, global public health is prioritized, and where all countries can invest in their own people—benefits everyone."

Boar's Head Plant Behind Listeria Deaths


About 500 workers lost their current jobs when Boar's Head on Friday announced the closure of the Virginia meatpacking plant behind a deadly listeria outbreak.


A chapter of the United Food and Commercial Workers (UFCW) union, which represents the workers, said in a statement that the closure was "especially unfortunate" given that the workforce was not to blame for the outbreak, which killed at least nine people nationwide.


The UFCW announced that it had reached a deal with the company to allow the workers to transfer to another Boar's Head facility or receive a severance package "above and beyond" what's required by law.


"Thankfully these workers have a union they can count on to always have their backs," the union statement said.


The outbreak caused nine deaths and 57 hospitalizations, and led to the recall of millions of pounds of Boar's Head deli meat. The company has already been targeted in a number of wrongful death and other lawsuits.


Listeria, a bacterial illness, originated from the Boar's Head plant in the small town of Jarratt, Virginia, as genome sequencing tests confirmed in late July. The company said this week that the contamination had come from liverwurst processing and announced it would discontinue the product.


A 2022 inspection of the plant found that it posed an "imminent threat" to public health, according to United States Department of Agriculture (USDA) records released this week. At the time, the plant already had "rust, mold, garbage, and insects on the plant floors and walls," The New York Timesreported.


Sarah Sorscher, a food safety expert at the Center for Science in the Public Interest, told the Times that "they shouldn't have allowed this company to keep producing ready-to-eat products, lunch meat that's going to go on people’s tables, when they're seeing this level of violation. Consumers had to die before this plant got shut down, really is the bottom line."


More recent USDA records, which were released in late August, also showed wretched conditions at the plant.

Monday, December 2, 2024

Minnesotans turn to saunas for warmth

 Ed Kranz set up his mobile sauna next to a frozen beach at Lebanon Hills Regional Park in Eagan, Minnesota, on a bone-chilling Sunday morning during a weekend cold snap.

Ed and his wife Colleen own Saunable, “a wood-fired sauna experience on wheels.” After about 8 to 12 minutes of sweating in the Kranz’s 185 degrees Fahrenheit (85 degrees Celsius) sauna, a group moseyed outside into a 15 degrees Fahrenheit (9 degrees Celsius) Minnesota afternoon. They sat around a fire in bathing suits to gradually lower their body temperatures before repeating the process three or four more times. One brave soul submerged himself into a hole in the frozen lake for a post-sauna cold plunge.

The group was not alone. As temperatures drop into the teens, Minnesotans are embracing sauna culture for warmth and community. Devotees say the state’s sauna mania is about more than sweat and snow — it is the product of Old World traditions intersecting with newfangled internet-based communities, and a desire for social connection in a society that can feel isolating.

How it works

Sauna and cold plunges go together like peanut butter and jelly, said Glenn Auerbach, a self-described sauna evangelist and the founder and editor of SaunaTimes. Auerbach started the website in 2008 to share his thoughts, research and conversations with an ever-expanding cadre of movers and shakers in the sauna world. He and his interlocutors mull over topics like the nitty-gritty of sauna construction, how to cultivate “good sauna vibes” and the potential health benefits of the sauna lifestyle.


A typical temperature to achieve the holy trinity of the sauna experience — heat, steam and ventilation — is about 180 to 200 degrees F (82-93 degrees C), a temperature that starkly contrasts Minnesota’s frigid winter weather.


“Within our saunas, the stove should always win,” he said.


While sauna truisms such as this provide some degree of uniformity, there is also leeway for personal preference.


The craftiest of the lot in the sauna community can build a facility for about $10,000, according to Auerbach. Those looking to skip the physical labor can also outsource the construction. Sauna’s popularity, which enthusiasts say spiked following the COVID-19 pandemic, has brought with it a rise in manufacturers selling saunas for about $30,000 to $40,000.


While sauna’s cultural cache may have increased in recent years, the practice long predates the Instagrammable spaces popping up in recent years, Auerbach said.


‘This is a tradition that’s actually for everyone’

The smell of cedar wood has been lodged in Justin Juntunen’s memory ever since he first stepped into his family’s sauna as a child. Juntunen, the founder of Cedar and Stone Nordic Sauna, is a descendant of Finnish immigrants who came to America in the 1880s. They and their compatriots brought with them an appreciation for saunas and the communal values the steam-filled rooms impart to local life.


People in Finland say there are more saunas than cars, Juntunen said. When immigrants like his grandfather came to Minnesota to work in the mines, mills or docks, they would often save up to build a farmhouse. But they would build a sauna first, living in the space while the main house was under construction. Later on, saunas would serve as informal town centers.

People gossiped in saunas, they gave birth in saunas and they died in saunas, Juntunen said. The public nature of the facilities reflects the egalitarian ethos that infuses Nordic culture, and sauna culture by extension, he added.

“This is a tradition that’s actually for everyone,” Juntunen said. “My favorite Nordic proverb is all people are created equal, but nowhere more so than in the sauna.”

A practice that became an internet trend

In addition to a desire for in-person experiences following the isolation wrought by the COVID-19 pandemic, sauna enthusiasts say interest rose after some of the internet’s most famous figures, such as podcasters Joe Rogan and Andrew Huberman, touted it.

“Every big podcaster in the world discovered that you could jump in cold water and it feels kind of good. And then people click on it online,” Juntunen said.

In this way, technology has been a paradox for sauna culture, he added. Digital media helped sauna culture grow at the same time as saunas were billed as reprieves from the pervasive reach of technology over every facet of daily life.

The Disease of Envy




Each of us has a gift from the Creator that we must offer to the struggle of our people for liberation. Jesus said it so beautifully: “He who would be your leader must be your servant.” Those of us who, for one reason or another, are accepted as leaders must increase our ability to serve. For it is only in serving that which is bigger than we are that we live and never die. That which is bigger than all of us is the liberation, totally, of our people in America, the Caribbean, Central and South America, Africa and the Isles of the Pacific.

Wherever Black people on this planet suffer, our goal should be to see our wounds healed, the damage repaired and all Black people free to bring again to the world what we originally brought, which was the light of knowledge and advanced civilization.

Many of us come with ideas and thoughts to advance the struggle of our people, but sometimes we do not know how to dialogue with another person who also has an idea. Sometimes our egos get caught up in what we wish to propose and sometimes it blinds us to a better idea or proposal that could come from one of our Brothers or Sisters. In the process of dialogue, we must learn to subordinate ourselves to what is best for the whole. That becomes difficult if we are moved by vain expectations.



All of us that worked and struggled in the ’60s, ’70s and ’80s, and are blessed to be alive in the year 2004, know that we do not have as many years in front of us as we have behind us. So, the lessons that we have learned from our struggle should make us know how much we need one another. When you know you have a need for your Brother or Sister in the struggle for our liberation, then we act in a way that facilitates the growth of the union of all of us who are involved in this struggle.


One of the diseases that hinders Black people from success is the malady called envy. It is one of our worst enemies and it masquerades, oft-times, as a friend. It masquerades oft-times as a supporter. It smiles when it does not mean it.


It masquerades a demonic mind that will destroy progress for the sake of destroying an individual who may be carrying the moment. If we have this disease, we need to understand what medication we need to remove it, because that disease has destroyed Black organizations and Black leadership.


The Honorable Marcus Garvey, one of the greatest leaders of our time, knew and was concerned about the future. He was not a man looking only for his own greatness, but he understood that his people were great.


In order for his idea to gradually take root among the people, that idea had to be fed to others who would wrap their being around that idea. Then, when his physical presence was no longer there, the idea that made Marcus Garvey who he was, and is, would live. Jesus could never die as long as the principles on which he built his life were inculcated into his students and disciples.



So, the enemy is always aware of the power of ideas and is always working to reduce great men to silliness in order to obscure the power of their ideas. To highlight Marcus Garvey’s motto or theme, “One God, one aim and one destiny,” without mention of his idea or plan to bring about that one aim, one destiny and one God, is to deliberately distort the value of that man and his ideas.


Even though most of us, as nationalists, did not agree with Dr. Martin Luther King Jr.—in that we should allow anybody to beat us and we turn the other cheek and don’t do our best to take that person out—the yin and yang between the talk of Brother Malcolm X and the talk of Brother Martin is what produced a dynamic that created movement among our people.


That’s like the dynamic between W.E.B. DuBois and Marcus Garvey, and DuBois and Booker T. Washington. They all had ideas, but time refines these ideas and people grow, not to take this idea or that, but to see the synthesis of things in order to bring these disparate groups into one mighty force that creates movement that cannot be stopped, that lives after individuals with charisma die.


Martin Luther King Jr. was an evolving giant, but to reduce his revolutionary development to “I have a dream” is to kill the idea that was ingrained in Dr. King that he kept evolving toward, where we are today. Dr. King was killed not because he had a dream, but because he opposed the war in Vietnam and saw the hypocrisy of those saying to Black people that we should be non-violent toward White people and then let them send us to be violent in Vietnam against a people who did not do anything to us. When he started to use his celebrity—which they created for him—to work against their ideas, then they decided that he had to be killed.


During the ’60s, there was an idea that united us, when we stopped using the term “Negro” and began to see ourselves as Black people. In 1955, in Bandung, Indonesia, Sukarno called an Afro-Asian meeting of all people of color. No White people were invited to that meeting. Adam Clayton Powell, a very, very light-skinned Brother, and a warrior, was invited to represent Black people at the Bandung Conference.


Right after that conference, Blackness began to unite our struggle all over the world. Although many of us may not see the value of language in conveying ideas, the enemy knows that, if you shift your language, you may shift your focus, then he can re-divide what had been united.


We saw ourselves as Black, not Georgian, Mississippian, New Yorkers, but Black people catching hell in America. When we saw our Brothers from Haiti who were victimized by the French, so he had a French name and a French language; or we saw our Brothers in Santo Domingo speaking Spanish, we knew they were Black and our Brothers, even though they spoke Spanish, French, Dutch, or another European language. Our Blackness made us one people. There are 80 million Black people in Brazil who speak Portuguese, but we would not let the language or culture of European colonizers divide us.


So, all of Africa, the Caribbean, Central and South America, and the Isles of the Pacific was ours. We saw ourselves not as a minority, but we outnumbered White people when we thought of ourselves as Black people first. We outnumbered them 11 to one on our planet. They became the minority and we were the majority, uniting for our liberation.


Now, Martin is gone, Malcolm is gone, Elijah is gone, and a shift comes in language. In Baltimore, there was a television show called “Black Star.” In New York, there was “Black News.” There was “Black Journal.” In every city in America, there was a TV show with the adjective “Black” describing some aspect of that show, but all of a sudden when the leadership was gone, their ranks became confused and the Civil Rights Movement integrated Black people into a system that was diametrically opposed to what we really need.


While we were celebrating being allowed to go into White hotels, motels and restaurants, we began losing what we had built as a result of segregation. Not only were we losing economically, we were losing the struggle, due to shifting language. When Dr. King was assassinated and 100 cities were set on fire, the enemy asked, “Who led this? Somebody must have led these Negroes for them to burn 100 cities. Who gave the order?” What they recognized, watching the nightly news every night, was that we were becoming a Nation without ever realizing what constitutes a nation.


Nations start with similar attitudes, out of which comes a system of belief. Out of that system of belief comes ideology, then a national community evolves out of that. But what was shaping our attitude? We all had a common attitude toward the government and racist police, because we saw them beating us down on television. Every night, we saw the fire hoses and the dogs set against Black people. We saw our people being beat down, so we had an automatic attitude toward White people. We knew in the ’60s who our enemy was, but today we don’t know that anymore.


There was a shift in language. They said, “It’s television that’s uniting these Negroes. Let’s see if we can shift this.” So, “Black Journal,” a national TV show, became “Tony’s Journal” and “Black” was dropped. “Black Star” and “Black News” were dropped. Black people were not talking “Black” anymore; we became the minority, the disadvantaged, then African Americans.


When you become an African American, how does that connect you to your African brother in Haiti, or your people in Grenada, Trinidad or Panama? The shift in language began to deteriorate the spirit that made us see ourselves as one dynamic people, suffering from a common enemy who inflicted us with a common disease. We must come back to the mindset that we had in the ’60s that was broken through the misuse of language.


They use people who we admire to introduce concepts that take us away from ourselves. They bring our scholars into universities like this one and, in order to get tenure, our scholars have to sacrifice something of the struggle of our ancestors for a dollar and to be recognized by the enemy as somebody of value. So, our leaders are all scattered now, wanting to be near to the enemy, and have a little money and security, while our people are in the valley of the shadow of death, going to hell in a rocketship.


So, the ndaba is important. There’s nothing more important than what these Brothers have called together. This is bigger than all of us in the room. It’s about getting our people back on course. It’s about taking the confusion out of language and speaking straight words, so that our people understand that the struggle is not over, because our young people are being separated from the struggle of their elders.


We must see ourselves as a nation within a nation—a nation that must not depend on a Kerry winning an election or a Bush being re-elected. Whoever is in office, our condition will not improve for the masses of our people unless we, as a unit, say that we are tired of what we are suffering and make a move to unite all of our people with an idea that will live after we are dead. And there is no idea bigger than the idea of freedom, justice, equality, truth and peace. The repair of our people is a must.


Scriptures say, “Envy is more cruel than the grave.” Once the spirit leaves the body and you put that body in a grave, worms begin to eat away the flesh. After a while, there’s nothing left but the bones, and the person becomes unrecognizable. You have to use forensic science to find out who it is. That’s what happens when we envy one another. We deteriorate and rot from within.


Do you know what makes us get rid of envy? When we know that each one of us has been gifted with a gift from a Mighty Creator and none of us are in this room without something special to offer. None of us are alive on this planet without a gift that marks and separates us from the next person, but not separates us in the sense that we are divided, but separates us in that each of us is unique.


As Muslims, we say, “Say He, Allah, is One.” He’s One, unique, incomparable, and so are you. There are no two snowflakes alike, no two raindrops alike, no two blades of grass alike. Your fingerprints, footprints and voiceprints are all different from your Brother’s and Sister’s. Each one of us has never been before and will never be again. That’s the infinite wisdom of a Mighty Creator.


So, when I look at you and you look at me, we are looking at individuals that there’s no one like, never was before, and won’t be again. This is our moment in time to unite our uniqueness and pass on to a succeeding generation the legacy of what we, in our uniqueness and our recognition of each other’s greatness, have accomplished in the long march toward total liberation.



Wall Street Drifts

 



U.S. stocks are kicking off December by drifting around their record heights on Monday.


The S&P 500 rose 0.1% in morning trading after closing its best month of the year at an all-time high. The Dow Jones Industrial Average was down 183 points, or 0.4%, as of 10:05 a.m. Eastern time, and the Nasdaq composite was 0.8% higher.


Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 15% to help lead the market.


Following accusations of misconduct and the resignation of its public auditor, the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the board. It also said it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance.

Intel rose 2.5% after it said CEO Pat Gelsinger has retired and stepped down from the board. The chip company said it’s looking for Gelsinger’s replacement, and Intel’s chair of the board said it’s “committed to restoring investor confidence.”

Stellantis, meanwhile, skidded following the announcement of its CEO’s departure. The U.S.-traded stock of the world’s fourth-largest automaker fell 7.4%. Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships.


Utility PG&E had the biggest drop in the S&P 500, 5.3%, after saying it would sell $2.4 billion of stock and preferred shares to raise cash.


Retailers were mixed amid what’s expected to be the best Cyber Monday on record. Target, which recently gave a forecast for the holiday season that left investors discouraged, fell 3.2%. Walmart, which gave a more optimistic forecast, added 0.1%.

Amazon, which looks to benefit from online sales from Cyber Monday, rose 2.1%.


The stock market seemed to be taking Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar.


The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close.


The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget. The euro sank 0.9% against the U.S. dollar and broke below $1.05.


In the bond market, Treasury yields rose and held onto their gains after a report showed the U.S. manufacturing sector is doing slightly better than feared. Manufacturing contracted again last month, but not by as much as economists expected, according to the Institute for Supply Management.

The yield on the 10-year Treasury climbed to 4.23% from 4.18% late Friday.


This upcoming week will have several highly anticipated updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report.


Elsewhere, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month.


Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office.


Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai, but South Korea’s Kospi slipped 0.1%.


In Europe, France’s CAC 40 fell 0.2%, while Germany’s DAX returned 1%.


___

Cyber Monday Shoppers



Consumers in the United States are scouring the internet for online deals as they look to take advantage of the post-Thanksgiving shopping marathon with Cyber Monday.


Even though e-commerce is now part and parcel of many people’s regular routines and the holiday shopping season, Cyber Monday — a term coined in 2005 by the National Retail Federation — has become the biggest online shopping day of the year, thanks to the deals and the hype the industry has created to fuel it.


Adobe Analytics, which tracks online shopping, expects consumers to spend a record $13.2 billion on Monday, 6.1% more than last year. That would make it the season’s — and the year’s — biggest — shopping day for e-commerce.


Online spending is expected to peak between the hours of 8 p.m. and 10 p.m. Monday night, per Adobe — reaching an estimated $15.7 million spent every minute.

For several major retailers, a Cyber Monday sale is a days-long event that began over the Thanksgiving weekend. Amazon kicked off its sales event right after midnight Pacific time on Saturday. Target’s two days of discount offers on its website and app began overnight Sunday. Walmart rolled out its Cyber Monday offers for Walmart+ members on Sunday afternoon and opened it up to all customers three hours later, at 8 p.m. Eastern time.

Consumer spending for Cyber Week — the five major shopping days between Thanksgiving and Cyber Monday — provides a strong indication of how much shoppers are willing to spend for the holidays.


Many U.S. consumers continue to experience sticker shock following the period of post-pandemic inflation, which left prices for many goods and services higher than they were three years ago. But retail sales nonetheless have remained strong, and the economy has kept growing at a healthy pace.


At the same time, credit card debt and delinquencies have been rising. More shoppers than ever are also on track to use “buy now, pay later” plans this holiday season, which allows them to delay payments on holiday decor, gifts and other items.

Many economist have also warned that President-elect Donald Trump’s plan to impose tariffs next year on foreign goods coming into the United States would lead to higher prices on everything from food to clothing to automobiles.


The National Retail Federation expects holiday shoppers to spend more this year both in stores and online than last year. But the pace of spending growth will slow slightly, the trade group said, growing 2.5% to 3.5% — compared to 3.9% in 2023.


A clear sense of consumer spending patterns during the holiday season won’t emerge until the government releases sales data for the period, though preliminary data from other sources shows some encouraging signs for retailers.


Vivek Pandya, lead analyst at Adobe Digital Insights, notes that discounts from Thanksgiving onward have “exceeded expectations” — and online spending throughout Cyber Week is on track to cross a record $40 billion mark combined.


U.S. shoppers spent $10.8 billion online on Black Friday, a 10.2% increase over last year, according to Adobe Analytics. That’s also more than double what consumers spent in 2017, when Black Friday pulled in roughly $5 billion in online sales. Consumers also spent a record $6.1 billion online on Thanksgiving Day, Adobe said.

Meanwhile, software company Salesforce, which also tracks online shopping, estimated that Black Friday online sales totaled $17.5 billion in the U.S. and $74.4 billion globally. And Mastercard SpendingPulse, which tracks in-person and online spending, reported that overall Black Friday sales excluding automotive rose 3.4% from a year ago. The retail sales indicator, which is not adjusted for inflation, showed online sales jumped by double-digits while in-store purchase rose a modest 0.7%.


E-commerce platform Shopify said its merchants raked in a record $5 billion in sales worldwide on Black Friday. At its peak, sales reached $4.6 million per minute — with top categories by volume including clothing, cosmetics and fitness products, according to the Canadian company.

Toys, electronics, home goods, self-care and beauty categories were among the key drivers of holiday spending on Thanksgiving and Black Friday, according to Adobe. “Hot products” included Lego sets, espresso machines, fitness trackers, makeup and skin care.


Other data showed physical stores saw fewer customers on Black Friday, underscoring how the huge crowds that were once synonymous with the day after Thanksgiving are now more than happy to shop from the comfort of their homes.


RetailNext, which measures real-time foot traffic in stores, reported that its early data showed store traffic on Friday was down 3.2% in the U.S. compared to last year, with the biggest dip happening in the Midwest.


Sensormatic Solutions, which also tracks store traffic, said its preliminary analysis showed retail store traffic on Black Friday was down 8.2% compared to 2023.

Grant Gustafson, head of retail consulting and analytics at Sensormatic Solutions, noted that in-store traffic was getting spread across multiple days since many retailers offered generous discounts before and after Black Friday.


“Some of the extended Black Friday promotions really ended up leading to a little bit of a softer day-of traffic than expected,” Gustafson said.


While physical items like toys and electronics are always popular around the holidays, experts note that consumers have turned to more “experience-driven spending” in recent years, especially as the COVID-19 pandemic waned.


Jie Zhang, a marketing professor at the University of Maryland’s Robert H. Smith School of Business, told The Associated Press ahead of the post-Thanksgiving shopping weekend that he expected shoppers to “indulge themselves a bit more” when it comes to “self-gifting,” increasing interest in categories like self care.


Adobe notes that shoppers are also buying higher-ticket items this season — with consumers opening their wallets to invest or “trade up” to more premium versions of products like electronics, appliances and sporting goods.

3 million travelers screened at US airports in a single day

 



Travelers heading home after the Thanksgiving holiday set a record on Sunday, as airport officers screened more than 3 million people.

The Transportation Security Administration said Monday that it handled 3.09 million travelers, breaking the previous record by about 74,000. That mark was set on July 7, also a Sunday after a holiday.

Hundreds of thousands of travelers were delayed or had their flights canceled. Airlines canceled about 120 U.S. flights — not an unusually high number — and more than 6,800 flights were delayed, according to FlightAware. The largest numbers of delays were at Hartsfield–Jackson Atlanta International Airport and Chicago’s O’Hare International Airport.

The TSA had predicted that Thanksgiving week air travel would rise 6% over the same days last year, fitting a pattern of record travel in 2024.

Intel CEO Gelsinger retires


 Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday in a surprise announcement.


Two company executives, David Zinsner and Michelle Johnston Holthaus, will act as interim co-CEOs while the company searches for a replacement for Gelsinger, who also stepped down from the company’s board.


The departure of Gelsinger, whose career spanned more than 40 years, underscores the turmoil at Intel. The company was once a dominant force in the semiconductor industry but has been eclipsed by rival Nvidia, which has cornered the market for chips that run artificial intelligence systems.


Gelsinger started at Intel in 1979 at Intel and was its first chief technology officer. He returned to Intel as chief executive in 2021.


Gelsinger said his exit was “bittersweet as this company has been my life for the bulk of my working career,” he said in a statement. “I can look back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics.”

Zinsner is executive vice president and chief financial officer at Intel. Holthaus was appointed to the newly created position of CEO of Intel Products, which includes the client computing group, data center and AI group and network and edge group.

Frank Yeary, independent chair of Intel’s board, will become interim executive chair.


“Pat spent his formative years at Intel, then returned at a critical time for the company in 2021,” Yeary said in a statement. “As a leader, Pat helped launch and revitalize process manufacturing by investing in state-of-the-art semiconductor manufacturing, while working tirelessly to drive innovation throughout the company.”


Gelsinger’s departure comes as Intel’s financial woes have been piling up. The company posted a $16.6 billion loss in the most recent quarter and the company’s shares have fallen by more than half since he took over as CEO. Gelsinger announced plans in August to slash 15% of its huge workforce — or about 15,000 jobs — as part of cost-cutting efforts to to save $10 billion in 2025.

Nvidia’s ascendance, meanwhile, was cemented earlier this month when it replaced Intel on the Dow Jones Industrial Average.


Unlike some of rivals, Intel manufactures chips in addition to designing them.


Last week it was revealed that the Biden administration plans on reducing part of Intel’s $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations.


The reduction is largely a byproduct of the $3 billion that Intel is also receiving to provide computer chips to the military. President Joe Biden announced the agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans in March.


The changes to Intel’s funding are not related to the company’s financial record or milestones, the people familiar with the grant told The Associated Press.


Shares of the Santa Clara, California, company, rose 2.6% in morning trading. Its stock has shed 42% in the past year.


_____

AI chatbots

 

Tired of thinking about what gifts to get everyone this year? Artificial intelligence chatbots might help, but don’t expect them to do all the work or always give you the right answers.


Anyone scouring the internet for Cyber Monday deals is likely going to encounter more conversational iterations of the chatbots that some retailers and e-commerce sites have built to provide shoppers with enhanced customer service.


Some companies have integrated models infused with newer generative AI technologies, allowing shoppers to seek advice by asking naturally phrased questions like “What’s the best wireless speaker?”


Retailers hope consumers use these chatbots, which are typically called shopping assistants - as virtual companions that help them discover or compare products. Prior chatbots were mostly used for task-oriented functions such as helping customers track down online orders or return ones that didn’t meet expectations.

Amazon, the king of online retail, has said its customers have been questioning Rufus - the generative AI- powered shopping assistant it launched this year - for information such as whether a specific coffee maker is easy to clean, or what recommendations it has for a lawn game for a child’s birthday party.

And Rufus, which is available for holiday shoppers in the U.S. and some other countries, is not the only shopping assistant out there. A select number of Walmart shoppers will have access this year to a similar chatbot the nation’s largest retailer is testing in a few product categories, including toys and electronics.


Perplexity AI added something new to the AI chat-shopping world last month by rolling out a feature on its AI-powered search engine that enables users to ask a question like “What’s the best women’s leather boots?” and then receive specific product results that the San Francisco-based company says are not sponsored.

“It has been adopted at pretty incredible scale,” Mike Mallazzo, an analyst and writer at retail research media company Future Commerce, said.


Retailers with websites and e-commerce companies started paying more attention to chatbots when use of ChatGPT, an artificial intelligence text chatbot made by the company OpenAI, went mainstream in late 2022, sparking public and business interest in the generative AI technology that powers the tool.


Victoria’s Secret, IKEA, Instacart and the Canadian retailer Ssense are among other companies experimenting with chatbots, some of which use technology from OpenAI.


Even before the improved chatbots, online retailers were creating product recommendations based on a customer’s prior purchases or search history. Amazon was at the forefront of having recommendations on its platform, so Rufus’ ability to provide some is not particularly groundbreaking.


But Rajiv Mehta, the vice president of search and conversational shopping at Amazon, said the company is able to offer more helpful recommendations now by programming Rufus to ask clarifying or follow-up questions. Customers are also using Rufus to look for deals, some of which are personalized, Mehta said.

To be sure, chatbots are prone to hallucinations, so Rufus and most of the tools like it can get things wrong.


Juozas Kaziukenas, founder of e-commerce intelligence firm Marketplace Pulse, wrote in a November blog post that his firm tested Rufus by requesting gaming TV recommendations. The chatbot’s response included products that were not TVs. When asked for the least expensive options, Rufus came back with suggestions that weren’t the cheapest, Kaziukenas said.


An Associated Press reporter recently asked Rufus to give some gift recommendations for a brother. The chatbot quickly spit out a few ideas for “thoughtful gifts,” ranging from a T-shirt and a keychain with charms to a bolder suggestion: a multifunctional knife engraved with the phrase “BEST BROTHER EVER.”


After a 5-minute written conversation, Rufus offered more tailored suggestions - a few Barcelona soccer jerseys sold by third-party sellers. But it wasn’t able to say which seller offered the lowest price. When asked during another search for a price comparison on a popular skin serum, Rufus showed the product’s pre-discounted price instead of its present one.

“Rufus is constantly learning,” Amazon’s Mehta said during an interview.


Shop AI, a chatbot that Canadian e-commerce company Shopify launched last year, can also help shoppers discover new products by asking its own questions, such as soliciting details about an intended gift recipient or features the buyer wants to avoid. Shop AI has trouble, however, recommending specific products or identifying the lowest-priced item in a product category.


The limitations show the technology is still in its infancy and has a long way to go before it becomes as useful as the retail industry - and many shoppers - wish it could be.

To truly transform the shopping experience, shopping assistants will “need to be deeply personalized” and be able - on their own - to remember a customer’s order history, product preferences and purchasing habits, consulting giant McKinsey & Company said in an August report.


Amazon has noted that Rufus’ answers are based on information contained in product listings, community Q&As and customer reviews, which would include the fake reviews that are used to boost or diminish sales for products on its marketplace.


The large language model that powers the chatbot was also trained on the company’s entire catalog and some public information on the web, Trishul Chilimbi, an Amazon vice president who oversees AI research, wrote in the electrical engineering magazine IEEE Spectrum in October.


But its unclear how Amazon and other companies are weighting different training components - such as reviews - in their recommendations, or how exactly the shopping assistants come up with them, according to Nicole Greene, an analyst at management consulting firm Gartner.


Perplexity AI’s new shopping feature allows users to enter search queries such as “best phone case” and to receive answers derived from various sources, including Amazon and other retailers, such as Best Buy. Perplexity also invited retailers to share data about their products and said those that do would have an increased chance of having their items recommended to shoppers.


But Perplexity CEO Aravind Srinivas, suggested in a recent interview with Fortune magazine that he didn’t know how the new shopping feature recommended products to customers. But in an interview with the AP, Chief Business Officer Dmitry Shevelenko pushed back on that characterization, saying Srinivas’ comment “was probably taken out of context.”


The context, he said, is that with generative AI technology “You can’t know in advance exactly what the output will be just based off of knowing what the inputs” are from the training materials.


Shevelenko said retailers and brands need to know they can’t have their products recommended in Perplexity’s search engine because they’re “jamming key words” into their websites or using different techniques to show up better on search results


“The way you show up in an answer is by having a better product and better features,” he said.




OBESITY (FAT)

  Our people are falling more and more During his 1984 presidential campaign, Reverend Jesse Jackson used unwise language in what he thought...