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TECH TODAY

Uber Needs Drivers Fingerprints: California is requiring Uber to fingerprint drivers in the company wants to continue providing services to unaccompanied teens.

Chatbot Arena: Two UC Berkeley students have the AI industry drooling 🤤 

Amazon Announces Supercomputer: New Server Powered by Homegrown AI Chips

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HEADLINE NEWS 👀

More Bad Retailer News On Disappointing Sales

Foot Locker shares took a significant hit on Wednesday, dropping by as much as 16% in morning trading. The decline followed the company’s announcement of a substantial miss on Wall Street’s quarterly earnings estimates and a downward revision of its full-year sales and earnings forecast.

For the quarter ending November 2, Foot Locker reported a loss of $33 million, or 34 cents per share, a stark contrast to the $28 million profit from the same period last year. Total sales fell 1.4% to $1.96 billion, missing the expected $2.01 billion. Adjusted earnings per share came in at 33 cents, below the anticipated 41 cents.

CEO Mary Dillon attributed the disappointing results to softer consumer spending and a more promotional retail environment. Despite a positive uptick in consumer spending during the Thanksgiving week, Dillon expressed caution due to ongoing challenges outside key selling periods.

Looking ahead, Foot Locker now expects full-year sales to decline between 1% and 1.5%, with adjusted earnings per share projected to be between $1.20 and $1.30, down from the previous forecast of $1.50 to $1.70.

Tractor Supply Company Ambitious Expansion Plans

Hey ya’ll, if my recent holiday experience at a local competitor to TSC is any indicator of the consumer demand for the products these companies sell I will/would seriously look at adding this company to a watch list (this is not investment advice). In the PNW the parking lot was full, cars riding through the parking lot actively asking customers if they were leaving. Inside the lines were 50+ deep at every register, this was before 10:00 am.

Tractor Supply Company outlined its ambitious "Life Out Here 2030" growth strategy, aiming for:

• 6-8% annual net sales growth

• 3-5% same-store sales growth

• 8-11% EPS growth.

Plans include opening 90 new Tractor Supply stores and 10 Petsense locations in 2024, increasing its store count to 3,200, and expanding its market opportunity to $225 billion. The strategy has already achieved milestones like a 340% surge in digital sales, loyalty program growth, and 550 updated garden centers. A 5-for-1 stock split was announced to make shares more accessible, especially for employees.

7.0 Magnitude Earthquake Strikes Northern California

A powerful 7.0-magnitude earthquake struck off the coast of Northern California near the town of Petrolia at 10:44 a.m. local time today, triggering widespread alarm across the region. The quake prompted a tsunami warning for portions of the California and Oregon coastlines, including the San Francisco Bay Area, though the warning has since been canceled.

The tremor, centered near the seismically active Humboldt County, was widely felt across the region. While the quake caused significant shaking, early reports indicate no major damage or injuries. Local authorities continue to monitor the situation, urging residents to remain vigilant and follow safety protocols as aftershocks may occur.

The initial tsunami warning had raised concerns along the Pacific Coast, particularly in vulnerable areas. However, subsequent evaluations by the National Tsunami Warning Center determined no significant threat, leading to the cancellation of the alert.

Residents described the experience as intense, with some reporting strong swaying and rattling. "It felt like it lasted forever," one resident from Eureka said. Emergency services have been deployed to assess the impact, and experts emphasize the importance of earthquake preparedness in this seismically active region.

The U.S. Geological Survey is conducting further analysis of the earthquake and its aftershocks. As the region remains on alert, officials advise residents to secure heavy objects, review emergency plans, and stay informed through local authorities.

This event highlights the ongoing seismic risks along California’s northern coast, where the meeting of tectonic plates makes significant earthquakes a persistent threat.

Tesla Troubles = People Muskt Go

Tesla Lays off workers as Musk’s attention shifts from Presidential transition to Tesla.

Smith & Wesson Earnings Miss Shares Plummet 12.8%

Howdy partner, our trusty ol’ partner seems to have stumbled on more than a tumbleweed. Smith & Wesson released its fiscal second-quarter earnings today, reporting a net income of $4.1 million, or 9 cents per share, and adjusted earnings of 11 cents per share—falling short of analysts' estimates of 17 cents. The firearms manufacturer posted revenue of $129.7 million for the quarter, reflecting ongoing challenges with declining consumer demand.

Following the disappointing results, Smith & Wesson stock dropped 12.8%. Signaling investor concerns about its performance and its ability to navigate current market conditions. Analysts noted the revenue miss highlights the impact of softened demand in the firearms market, which has constrained the company’s growth.

Smith & Wesson has yet to release specific forward-looking guidance but is expected to face continued headwinds in the near term. As the company works to address these challenges, its recent performance underscores the shifting dynamics in a historically volatile industry.

Taylor Swift’s ‘Eras Tour Book’ Nonfiction Sensation

Swifties revel in holiday 🎄merch. Taylor Swift has added another accolade to her record-breaking year as her self-published The Eras Tour Book became one of the highest-selling nonfiction debuts ever.

Exclusive to Target, the book launched in stores on Black Friday and online the following day, selling 814,000 print copies in its first week, according to Circana BookScan. This makes it the second-best debut for adult nonfiction in BookScan’s history, trailing only former President Barack Obama’s A Promised Land, which sold 816,300 copies in its 2020 launch.

Swift’s 256-page book is sold exclusively through Target for $39.99. The book features over 500 images, including costume sketches and behind-the-scenes rehearsal photos.

Despite its commercial success, The Eras Tour Book has drawn criticism from fans, who took to social media to complain about typos and design issues, such as photos that disappear into the page creases.

Expectations remain high for the book. According to a source familiar with the release, the first print run was two million copies. By comparison, the bestselling book of 2023, Colleen Hoover’s It Ends with Us, sold nearly 1.3 million print copies throughout the year, BookScan reports.

Target, which has not commented on the book’s release, appears to have secured another retail win through its partnership with Swift. As her devoted fanbase continues to fuel her success across industries, The Eras Tour Book is positioned to remain a blockbuster hit this holiday season.

High End Clothiers Retail Holiday Sales Slow

Retail Giants PVH and American Eagle Lower Holiday Sales Outlook Amid Consumer Slowdown 

Retailers PVH Corp. and American Eagle Outfitters are facing a challenging holiday season as both companies lowered their sales outlooks due to weak consumer demand and shifting spending priorities.

SMALL BUSINESS BREAKING NEWS

Corporate Transparency Act (CTA)

12/4/24 Update: A federal court has halted the implementation of the Corporate Transparency Act’s beneficial ownership reporting requirements. This will remain in effect until the conclusion of legal proceedings. As of this update, businesses are not required to comply with the reporting requirements.

The Corporate Transparency Act that went into effect January 1, 2024 was designed to combat money laundering and illicit illegal activities by requiring businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FenCEN).

The CTA required small businesses to disclose personal information about their owners that included names, addresses, and identification numbers.

Compliance required businesses to meet the reporting guidelines and submit the required information no later than January 1, 2025 or face steep penalties.

ECONOMY

Fed Signals Slower Rate Cuts Economy Resilient

Federal Reserve Chair Jerome Powell suggested a more cautious approach to rate cuts, citing a stronger-than-expected economy. The Fed has reduced rates at its last two meetings, including a quarter-point cut in November to a range of 4.5%-4.75%.

Investors widely anticipate another quarter-point cut at the December 17-18 meeting, with futures markets pricing in a 75% likelihood. Powell, however, emphasized the need for caution as the Fed seeks a “neutral” rate that neither spurs nor slows growth.

Inflation has moderated but remains uneven, with core prices rising 2.8% in October—above the Fed’s 2% target. Upcoming employment and inflation reports will guide the Fed’s decision.

Powell also refrained from speculating on the economic impact of President-elect Donald Trump’s policies, including potential tariffs on Canada and Mexico, which could add uncertainty to the outlook.

FINANCE

Scotts Miracle Gro Management Shakeup

Scotts Miracle Grow CFO, Matt Garth, will exit the world largest producer of branded lawn and garden products at the end of 2024 in an abrupt ending as the company looks towards the next phase of its growth strategy.

The company also announced the two executive advancements to help fill the void until a permanent replacement is found for the CFO role.

POLITICS

Paul Atkins Tapped To Run SEC

Trump Names Paul Atkins as SEC Pick, Signaling Regulatory Shift 

WASHINGTON—President-elect Donald Trump has selected Paul Atkins, a conservative lawyer and regulatory skeptic, to lead the Securities and Exchange Commission (SEC), marking a likely pivot in the agency’s enforcement and regulatory strategies.

Atkins, a former SEC commissioner during the Bush administration, is known for opposing regulations he deemed burdensome. If confirmed, he is expected to scale back enforcement and revise policies introduced under current SEC Chair Gary Gensler, while maintaining core investor protections.

“Paul is a proven leader for common-sense regulations,” Trump wrote on Truth Social, adding that Atkins understands the importance of digital assets in fostering innovation.

Atkins has criticized the SEC’s aggressive crackdown on cryptocurrency firms during the Biden administration, arguing that rigid oversight pushed crypto innovation overseas. As head of consulting firm Patomak Global Partners, Atkins advised crypto firms, including the now-defunct FTX, which collapsed in 2022 amidst a high-profile fraud scandal.

This appointment aligns with Trump’s broader plan to streamline federal agencies, an effort led by Elon Musk and Vivek Ramaswamy under the newly created Department of Government Efficiency.

Trump also announced Gail Slater as head of the Justice Department’s antitrust division, signaling continued scrutiny of Big Tech while aiming to protect smaller competitors.

Atkins’s track record suggests a shift away from hefty corporate penalties toward targeting individual wrongdoers and revising rules he once opposed, such as those established after the 2008 financial crisis. The nomination underscores Trump’s pro-business agenda as he prepares for his second term.

Trump Selects Jared Isaacman To Head NASA

Incoming president Donald Trump has nominated Jared Isaacman—a billionaire entrepreneur and private astronaut—to lead NASA during what could be one of the most transformative periods in the agency's history.

Over the course of Trump’s second term, NASA will face a series of critical challenges, including advancing the Artemis program, navigating the increasing commercialization of space, and potentially overseeing the de-orbiting of the International Space Station. This period is also likely to see SpaceX’s Starship launch its first commercial missions—and possibly embark on its inaugural uncrewed journey to Mars.

Isaacman, founder and CEO of the payment processing platform Shift4, is a prominent advocate for commercial space exploration. Through his Polaris Program initiative, he has sponsored two SpaceX-led missions to orbit. During the most recent mission in September, Isaacman and a fellow crew member performed the first private spacewalk using SpaceX’s newly developed extravehicular activity suits.

THE GRIND FACTORY ⚙️

UNIQUELY INTERESTING

💡 Epiphany Moments

A simple idea and a small investment create an interesting service behemoth.

In 1989 a 19 year old waiting in line at a McDonald’s drive thru in Vancouver, BC noticed a sign on the side of a beat up truck “junk removal”. Inspired Brian Scudamore came up with the thought that he could do better. Scudamore took $1,000 and started Rubbish Boys.

The investment amounted to the purchase of a $700 F-100 pickup truck with the remaining 30% spent on marketing materials. His goal was to create a professional and efficient junk removal service. The business gained traction and by years end he was able to pay his college tuition.

The company continued to enjoy success and grow then in 1998 rebranded into the well known 1-800-GOT-JUNK. Today the company operates in multiple countries and has become a leader in the junk removal business.

 🍎 One Smart Apple

The Rise of Raising Cane’s: from a C- College Grade to Global Success

Way back in 1996, Todd Graves turned a dismissed idea into a global fast food phenomenon. He partnered with friend Craig Silvey and together they envisioned a restaurant centered around a single menu item; chicken fingers.

Their idea was so brilliant that when they submitted their business plan as part of an in-class project at Louisiana State University they received a C- on the submission.

Committed to the idea Graves worked long hours at an oil refinery and fished for sockey salmon in Alaska. He eventually secured enough money and a small loan to open the first Raising Cane’s Chicken Fingers near LSU’s campus in Baton Rouge. Name after Graves yellow Labrador, the restaurant quickly drew crowds with simple, but high quality menu of chicken fingers, fries, coleslaw, and Texas toast.

Success was a ways off, and Silvey sold his stake after the second location opened 😩

Graves believed gravely in the restaurant and pressed on. Cane’s early focus on consistency and excellence has paid off. Today, Raising Canes has 800 locations worldwide, with a continuous philosophy of doing one thing really well.

What started as a passion project has become a line inducing location sparse fast food icon. Proving perseverance and simplicity are a winning recipe for success🍏 

 HEALTH & LONGEVITY •ᴗ•

Abdominal Fat Increases Early Death Risk By 365% In Non-Obease

Researchers in Italy and Slovenia found that a larger waistline correlates with a 365% increase in the risk of death.

Key Findings:

• New Measurement: the study used a body shape index (ABSI) which considers waist circumference, weight, and height, unlike traditional BMI.

• Study Participants: 159 elderly, non-obese, physically active adults, with 50% being smokers and 30% having high blood pressure.

• Health Indicators: lower ABSI scores were linked to better cardiovascular fitness (VO2 Max) and lower blood pressure.

• Mortality Rates: Over a 10 year period participants with higher ABSI scores had a significantly higher mortality rate.

Mitigating Risk:

• Senolytics: compounds that remove senescent cells may reduce the age accelerating effects of abdominal fat.

• Polyphenols: Naturally occurring senolytics found in plant based foods may help combat inflammation associated with excess abdominal fat.

This study underscores the importance of managing abdominal fat to improve longevity even in non-obese individuals.

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