Did “Skimpflation” invade your Thanksgiving dinner?

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Does you favorite food seem to be in smaller proportions than usual? If so, you might want to see if you are being faced with “skimpflation”?

Questions

  1. What is a basic definition of skimpflation?
  2. Why is it considered to be a side effect of inflation?
  3. What factors make it hard to detect?

Source:

George, M. (2023). “Skimpflation” may be slipping by grocery shoppers. Here’s how to spot it. Nov. 27 (Retrievable online at https://www.msn.com/en-us/foodanddrink/foodnews/skimpflation-may-be-slipping-by-grocery-shoppers-heres-how-to-spot-it/ar-AA1kBhsJ).

WeWork – Not a Surprising Demise To Some Analysts!

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According to CNN.com, WeWork, the beleaguered coworking space company, has filed for bankruptcy, marking a stunning downfall for what was once the world’s most valuable startup.

Questions:

1. Around its peak, what was the company’s stock valued at?

2. WeWork plans to stay open and operational as it does what?

3. According to the article, was the pandemic responsible for the company’s demise?

Source:

Thorbecke, C. (2023). WeWork files for bankruptcy. CNN.com, November 7 (Retrievable online at https://www.cnn.com/2023/11/06/business/wework-bankruptcy/index.html)

WeWork’s Time has Come

Exploited Legal Loopholes – Oh My!

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What a con! Free windshield replacements in Florida parking lots! And it is costing insurance companies millions of dollars, which then trickle down as higher rates for the consumer.

Questions:

  1. How does the corruption occur? Describe the entire process.
  2. Who do these harvesters target?
  3. Why do they offer free gifts?
  4. What is the “Fix the Cracks” initiative in Florida?
  5. What are “one-way attorney’s fees”?

Source:

Tan, E. (2023). How Florida’s ‘unscrupulous’ auto glass shops fuel an insurance crisis. The Washington Post, Nov. 12 (Retrievable online at https://www.washingtonpost.com/business/2023/11/12/auto-glass-florida-insurance)

Accounting for Intangibles

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In a recent meeting, the Federal Trade Commission (FTC) challenged more than 100 patents held by manufacturers of brand-name asthma inhalers, epinephrine autoinjectors, and other drug products as improperly or inaccurately listed in the Food and Drug Administration’s (FDA) publication of “Approved Drug Products with Therapeutic Equivalence Evaluations,” commonly known as the “Orange Book.”

Questions:

  1. What were the reasons for the challenge?
  2. What is the Orange Book?
  3. What does listing in the Orange Book signify?
  4. How many companies were sent FTC letters?
  5. Who were these companies?
  6. How does this issue affect accountants for the challenged companies?

Source:

FTC Staff. (2023). FTC Challenges More Than 100 Patents as Improperly Listed in the FDA’s Orange Book, FTC.gov Press Release, Nov. 7 (Retrievable online at https://www.ftc.gov/news-events/news/press-releases/2023/11/ftc-challenges-more-100-patents-improperly-listed-fdas-orange-book)

The Troubling Cost of Salmon

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According to the New York Times, land-based aquaculture for farm-raised salmon stands to upend an industry plagued by environmental concerns.

Question:

  1. What have been some of the most critical issues that have developed within the salmon farming industry?
  2. How can the farm raised problems impact the wild-raised salmon?
  3. Where does salmon rank as far as most popular seafood in the U.S.?
  4. What are the environmental issues associated with ocean-based salmon farms?

Source: Clark, M. (2023). The Salmon on Your Plate Has a Troubling Cost. These Farms Offer Hope. The New York Times, Oct. 16 (Retrievable online at https://www.nytimes.com/2023/10/16/dining/farm-raised-salmon-sustainability.html)

Is Zombie World in Our Future?

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According to the New York Times, it is possible that the Net may be the habitat of AI agents, which are being transformed from chatbots that play games, query websites, schedule meetings, build bar charts and do much more.

Questions:

  1. What are some of the things that researchers have taught chatbots in the digital universe?
  2. Had you ever heard of the company Nyidia?
  3. What is the most interesting thing that you learned from this article?
  4. Do you think that AI agents will replace white collar workers?

Source:

Metz, C. and K. Weize. (2023). How ‘A.I. Agents’ That Roam the Internet Could One Day Replace Workers. The New York Times, Oct. 16 (Retrievable online at https://www.nytimes.com/2023/10/16/technology/ai-agents-workers-replace.html)

Some Interesting and Difficult Issues Surround the RiteAid Bankruptcy!

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According to the New York Times, RiteAid, one of the country’s largest pharmacy chains, faces more than a thousand lawsuits that say it filled illegal prescriptions for painkillers.

Questions:

  1. According to the article, how much has RiteAid’s stock fallen since the start of the year?
  2. According to the video, the big question is: “Who could or would buy RiteAid?” Why is this such a complex question?
  3. Where are most of RiteAid’s stores located?

Source: Holman, J. and L. Hirsch. (2023). Rite Aid, Facing Slumping Sales and Opioid Suits, Files for Bankruptcy. The New York Times, Oct. 16 (Retrievable online at https://www.nytimes.com/2023/10/15/business/rite-aid-bankruptcy.html)

Ergonomic Nightmares and Its Not Even Halloween!

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According to the Washington Post, state labor regulators in Washington state allege that working at Amazon exposes staff to increased risk of ergonomic injury and musculoskeletal disorders as they awkwardly bend and twist to move goods through the warehouse. 

Questions:

  1. How many times has the state charged the company with willfully violating safety standards, with no operational changes occurring?
  2. How many citations did OSHA issue with respect to a national investigation into ergonomic injuries last year?
  3. When did workplace safety issues first come to light at Amazon?
  4. How much has Amazon been fined for violations as compared to its second quarter profits?

Source:

O’Donovan, C. (2023). Regulators struggle to rein in Amazon on safety for warehouse workers. The Washington Post, Sep. 18 (Retrievable online at https://www.washingtonpost.com/technology/2023/09/18/amazon-working-conditions-safety-osha-doj)

Forced Labor for the Sake of EV?

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According to the Washington Post, Tesla has been conspicuously silent when it comes to China, despite evidence that materials that go into its vehicles come from the Xinjiang region, where forced labor has been rampant.

Questions:

  1. Is Tesla the only EV car maker using parts from that area of China?
  2. Why aren’t companies doing more to combat the use of forced labor?
  3. Automakers say they take pains to ensure that their suppliers are not sourcing from Xinjiang. So how is this happening?

Source:

Halper, E. (2023). EV makers’ Use of Chinese Suppliers Raises Concerns About Forced Labor. The Washington Post, Sep. 18 (Retrievable online at https://www.washingtonpost.com/business/interactive/2023/electric-vehicles-forced-labor-china)

Beware Evil-Doers!

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IRS Commissioner Daniel Werfel said Monday in a letter to leaders of the Senate Finance Committee that the agency would renew its effort to crack down on predatory (or bad) preparers.

Questions:

  1. Who does the IRS plan to focus its fire power on?
  2. The Washington Post, last month, reported that although more than 112,000 people have reported fraud or misconduct by their tax preparers over the past decade, how many have the IRS disbarred?
  3. How many preparers have faced criminal charges?

Source:

Weil, J. (2023). IRS vows to crack down on predatory preparers, change audit strategy. The Washington Post, Sep. 18 (Retrievable online at https://www.washingtonpost.com/business/2023/09/18/irs-earned-income-audits-predatory-tax-preparers)