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TECH TODAY

VC’s Dance To Their Own Music: The year has been filled with high profile VC’s jumping ship for another ship. These changes are unique because VC’s don’t normally move. Is something on the horizon in the VC ocean that’s causing VC’s to jump ship? IDK, I just report the news, but stay tuned!

AI Still Hotter than He!!: AI amounted to 25% of all European investments in technology in 2024.

Apple Doorbell: Apple is reportedly working on trying to make further headway into households by making its own doorbell to compete with Amazon’s ring.

 🎁 Happy Holidays 🎄

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 🎄 Happy Holidays 🎁🎅🎎🪔🧑‍🎄🤶

HEADLINE NEWS 👀

Americans Are Downsizing Starting With Cars

Car prices are sky high, and interest rates aren’t helping. Americans are rethinking their love for big cars, opting for smaller rides to ease the financial squeeze.

Compact cars and SUVs are making a comeback. Sales of models like the Honda Civic and Nissan Sentra surged over 23% this year, outpacing the overall market. Meanwhile, sales of large trucks and midsize SUVs have dipped as average new car prices hover above $45,000, with insurance and repair costs also climbing.

Buyers are trading size for affordability. Compact SUVs cost around $29,000 on average, far less than the $48,000 for midsize or $76,000 for large SUVs. Smaller vehicles, once dismissed by U.S. automakers, are now stars for brands like Honda and Toyota, which stuck with the category.

Chevy’s $20,000 Trax is a hit, with sales up nearly 89%. Features like big screens and safety tech in budget friendly packages resonate with shoppers. Still, dealers lament the lack of economical options as automakers phased out smaller sedans for bigger profits.

Whether the trend sticks depends on gas prices, interest rates, and affordability in a tough market. For now, compact is king 🚘️ 

Lots And Lots Of Retail News 

Nordstrom Delivers Positive News For Retail This Holiday

The Nordstrom family is taking their iconic department store private in a $4 billion deal. Teaming up with Mexican retailer El Puerto de Liverpool, they’ll buy Nordstrom’s stock at $24.25 per share. The deal values the company at $6.25 billion, including debt, and is set to close next year, pending approvals.

Nordstrom’s stock has struggled, down from a $15 billion peak a decade ago. Department stores like Nordstrom face pressure from online shopping and discount chains. The family, which controls a third of the company, will hold a majority stake after the close.

This marks their second attempt to take the retailer private, aiming to revive it away from Wall Street’s glare.

Containers Store More Bad News For Retailers; Files BK

The Container Store has filed for Chapter 11 bankruptcy as mounting losses and $232 million in debt push the retailer toward delisting.

The Texas based chain plans to reorganize within 35 days, backed by $40 million in new financing, $45 million in debt reductions, and extended repayment terms. Satish Malhotra, CEO says the company is "here to stay," aiming for stability and future growth.

Business operations continue as usual, with vendor and trade creditors unaffected. The company will emerge as a private entity under term loan lenders. Its Swedish Elfa division remains untouched.

Dwindling sales, rising debt, and steep quarterly losses have plagued the retailer, which was founded in 1978. Efforts to secure outside investments failed, and the NYSE delists its stock today after a 91% slide this month.

Two Major Retailers Shutdown Operations

Big Lots is closing its doors. The discount retailer, based in Columbus, Ohio, is holding a Big Lots going-out-of-business sales at all locations after a deal to sell the company fell through.

The chain filed for Chapter 11 bankruptcy in September and had a tentative agreement with Nexus Capital Management to buy most of its assets. On Thursday, Big Lots announced the deal likely won’t happen but is exploring other options, aiming to finalize a sale by January.

Shoppers can find discounts of up to 50% as the stores prepare to shut down. Bruce Thorn, CEO called the decision to begin liquidation “difficult,” citing high inflation, rising interest rates, and fierce competition from Walmart, Sam’s Club, and Costco as key factors in the company’s downfall.

At its peak, Big Lots operated nearly 1,400 stores across 48 states. All locations are now slated to close, marking the end of an era for the once-popular chain.

Party City Closing All Stores Nationwide

Party City announced Friday it will close all its stores and lay off corporate employees effective immediately, as reported by CNN.

CEO Barry Litwin broke the news today in a somber meeting, calling it “the most difficult message I’ve ever had to deliver.” Friday marked the final day for corporate staff, signaling the end of the New Jersey based party supply chain.

The closures come after years of financial struggles. Party City filed for bankruptcy in early 2023, weighed down by $1.7 billion in debt. Though it emerged from bankruptcy in September, shedding nearly $1 billion in debt and keeping most of its 800 U.S. stores open, the reprieve was short lived.

Litwin, who became CEO in August, had spoken of plans to revitalize the business and create a stronger celebration experience for customers. Those plans, it seems, could not outlast the company’s financial turmoil. Party City’s chapter has now reached its final page.

These two closures follow another large retailer filing Chapter 11 bankruptcy.

Joann, the craft and fabric giant, filed for Chapter 11 bankruptcy in March 2024. Despite financial turmoil, the retailer kept its 815 stores open and retained over 18,000 employees, standing firm in uncertain times.

The company is now navigating a financial restructuring, aiming to shed debt and stabilize its business. Joann’s leadership expects the process to conclude soon, with plans to emerge as a privately held company. For now, it’s business as usual, as the brand fights to stitch together a stronger future.

Elf On The Shelf 'Twas the Toy They Said Would Fail’

Not all toys begin their journey to stardom wrapped in shiny paper and bow topped. Some toys, like this holiday underdog, are written off as misfits,

destined for the damaged goods bin, naysayers declared. Yet, like Rudolph finding his glow, this creation defied expectations and soared straight into the hearts of families.

It’s a tale as magical as Santa’s sleigh ride. Once dismissed as a flop, the toy's creators tinkered like Christmas elves, fine-tuning every detail. With a sprinkle of innovation, a dash of resilience, and perhaps a bit of holiday luck, their product transformed into a phenomenon as beloved as a roaring yule log. Brandy and eggnog flowed in celebration.

Now, shelves are emptied faster than Santa's sack on Christmas Eve, and the toy is the season's must have gift. Proof even underdogs can shine brighter than the North Star.

💰️ Smart Money Matters 💰️ 

Culture Corner

The New American Dream A Big SHOUSE

The Lovechild of Metal Sheds and Suburbia, America’s backroads are buzzing with a new rural trend: the shouse. Think barndominium, but swap some of the barn for a workshop, and maybe a little less HGTV glam. These steel clad rectangles with metal roofs and concrete driveways are popping up everywhere, housing everything from muscle cars to campers, with living quarters tucked neatly inside.

The key difference though is Shouses prioritize the shop. More tools, fewer throw pillows. “It’s a garage with a home attached,” said one builder, who fields daily calls from DIY dreamers.

Take Warren Frerichs of Pilger, Nebraska, His $220,000 shouse boasts a 40x40 living space and a 40x50 shop for his Chevy Corvette and three motorcycles. “It’s all one level, perfect for retirement,” he said.

Builders rave about the practicality. Shouses are energy efficient, quick to construct, and sustainable. But don’t let the simplicity fool you, some shouses sport cedar posts, swimming pools, and even storm shelters hidden under kitchen islands.

Not everyone’s a fan, though. Some towns have banned them for clashing with traditional aesthetics, and banks sometimes struggle to appraise the hybrid homes.

Still, shouses are on the rise, and creative spins abound. One Nebraskan is transforming a grain bin into a front yard gazebo, a grainzebo. Because why the he!! not! When it comes to shouses, practicality meets whimsy, and the sky’s the limit.

SMALL BUSINESS OWNERS NEWS

Corporate Transparency Act (CTA)

Federal Courts Hit Pause on Beneficial Ownership Filings—For Now

UPDATE Dec 22, 2024: Businesses just got a reprieve, or maybe a ticking time bomb. For now, the federal government isn’t enforcing the Beneficial Ownership Information (BOI) filing requirement under the Corporate Transparency Act (CTA). But the situation remains fluid.

What Happened: The CTA, effective January 1, 2024, requires over 30 million businesses to report ownership details to FinCEN by January 1, 2025, under threat of fines and jail time. Its aim is to Combat money laundering and terrorism. But lawsuits challenging its constitutionality quickly followed.

Alabama and Texas Rulings: In March 2024, an Alabama court ruled the CTA unconstitutional, allowing local plaintiffs to skip compliance. On December 3, 2024, a Texas court escalated matters with a nationwide injunction, calling the CTA an overreach. FinCEN has since halted enforcement, sparing businesses penalties, at least for now.

What’s Next: On December 13, the DOJ appealed to overturn the injunction, with a ruling expected by December 27. A reversal could force businesses into a last minute scramble before the January 1 deadline, or prompt FinCEN to extend it.

What Should Businesses Do?

Here are your options:

1. Monitor Developments: Hold off filing until the legal dust settles.

2. Prepare Documents: Gather BOI data to stay ready.

3. File Early: Avoid uncertainty and meet potential deadlines.

The Unknowns: The incoming administration might abandon the appeals, shelving the CTA entirely. Until then, the courts have offered businesses a temporary reprieve, but no certainty. Stay tuned.

ECONOMY

How To Avoid Tariffs A Play By Play

U.S. Customs agents uncovered a Malaysian warehouse stuffed with cabinets labeled alternately as “Made in China” and “Made in Malaysia.” The operation, linked to Chinese firm Qingdao Haiyan Group, is suspected of dodging U.S. tariffs through transshipment a tactic to mask goods’ origins.

Cabinets To Go owner Tom Sullivan sounded the alarm in 2021 after discovering Chinese cabinets disguised as Malaysian imports. His lawsuit against Haiyan revealed a scheme that cost his company $650,000 in tariffs. Other U.S. cabinet giants, including American Woodmark, cut ties with Haiyan’s Malaysian subsidiary following the allegations.

Transshipment isn’t confined to cabinets, U.S. Customs blocked $500 million in duty evasions last year across products like solar panels and nails. Industry watchdogs say such schemes undercut domestic manufacturers. The U.S. Commerce Department recently ruled Chinese-made plywood cabinets shipped via Malaysia or Vietnam still fall under tariffs, intensifying a bitter trade dispute.

Haiyan denies wrongdoing. The Investigations continue.

FINANCE

How One Retailer Plans To Keep Prices Low Even With Tariffs

As tariffs loom Academy Sports & Outdoors braces for their impact. Higher prices on Nike and Adidas shoes could hit shelves if President elect Trump’s proposed tariffs, up to 20% on imports and 60% on Chinese goods, become reality. But Academy bets on staying cheaper than competitors to lure cost conscious shoppers.

Carl Ford, Academy’s CFO, says the chain will stick to its strategy of pricing below MSRP. “If Nike raises prices, we’ll stay $5 under,” Ford insists. Meanwhile, Academy has been cutting its reliance on private label goods from China, down from 70% in 2019 to about half today.

National brands like Nike and Adidas face the same challenges, with 14-18% of their products sourced from China. Retailers across industries are scrambling, diversifying supply chains, negotiating with suppliers, and bracing for higher costs.

Academy’s challenge is going to be passing costs to value driven shoppers amid shrinking sales. But with new Nike products set to hit shelves in 140 stores next year, Academy hopes to reignite interest. In tough times, undercutting the competition might be its best defense.

POLITICS

House Ethics Committee Releases Report On Matt Gaetz

The House Ethics Committee released a damning report on ex-Rep. Matt Gaetz, alleging he paid for sex, including with a 17 year old (from 2017 to 2020). The report also claims he accepted improper gifts and used drugs. Gaetz denies wrongdoing and sued to block the report. He resigned last month.

THE GRIND FACTORY ⚙️

UNIQUELY INTERESTING

💡 Epiphany Moments

Santa Claus origination story: (SPOILER ALERT) The story of Santa Claus began centuries ago, rooted in the legend of Saint Nicholas, a 4th century bishop from what is now Turkey. Known for his generosity and secret gift giving, Saint Nicholas became the stuff of folklore, especially in Europe. Over time, his legend merged with local traditions, enter the Dutch Sinterklaas, who brought treats to children.

When Dutch settlers arrived in America, Sinterklaas evolved into the jolly, gift giving Santa we know today. By the 19th century, writers like Clement Clarke Moore ('Twas the Night Before Christmas) and cartoonist Thomas Nast added key details, the sleigh, reindeer, and, of course, that iconic red suit and hat.

Today Santa Claus is a global icon, balancing a day job at the North Pole with his world famous Christmas Eve delivery service. All thanks to a kind bishop, a little imagination, and a lot of holiday cheer 🎅 

 🍎 One Smart Apple

Kay Jewelers began in 1916 when two brothers, Sol and Edmund Kaufmann, opened a quirky little shop in Reading, Pennsylvania. Back then, Kay sold more than jewelry, think eyeglasses, radios, and even silverware. But diamonds, as it turns out, really are forever, and the brothers soon pivoted to focus exclusively on fine jewelry.

Fast forward, Kay grew into a national darling for engagement rings 💎 and sparkly sentimentality, powered by its catchy slogan, “Every kiss begins with Kay.” In 1987, it joined the Signet Jewelers family, leveling up into a jewelry giant. Now, with stores everywhere and a thriving online shop, Kay remains America’s go to for marking life’s big moments, one kiss (and diamond) at a time. 🍏 

 HEALTH & LONGEVITY •ᴗ•

Two Life Anchors That Support Longevity

The two most important components of achieving longevity are physical health and mental well being. To successfully achieve your goals of attaining longevity place these two lifestyle components at the top of the priority list.

1. Physical Health: Consistent exercise, a balanced diet rich in whole foods, adequate sleep, and preventive healthcare are essential. These habits reduce chronic diseases, improve cardiovascular health, and support the body’s resilience over time.

2. Mental Well-Being: Stress management, meaningful social connections, and a sense of purpose are critical. A positive mindset and emotional health significantly influence longevity, as they help reduce stress related illnesses and improve overall quality of life.

Together, these components create a balanced foundation for a longer, healthier, more enjoyable life.

🎁 Happy Holiday’s  🎄

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