Category: Business

Underground comics legend Aline Kominsky-Crumb dies of cancer at 74

Underground comics legend Aline Kominsky-Crumb dies of cancer at 74

Aline Kominsky-Crumb, an American cartoonist known for her feminist themes and often brutally frank, highly personal and self-critical work, has died at the age of 74. Kominsky-Crumb, who was a close collaborator of her cartoonist husband, Robert Crumb, died of cancer Tuesday at their longtime home in France, said Alexander Wood, manager of the website that sells Crumb’s work. “She was the hub of the wheel within her family and community,” the website wrote in announcing her death. “She had a huge amount of energy which she poured into her artwork, her daughter, her...

New York’s top transit cop retires amid a rash of subway robberies, stabbings, and shootings

New York’s top transit cop retires amid a rash of subway robberies, stabbings, and shootings

New York City’s transit chief and three other top police officials announced their retirements on Thursday, creating turnover in the top ranks of the department as Mayor Eric Adams tries to focus the department on subway crime and removing people with mental health issues from city streets. The departures come amid a push announced by Adams this week to involuntarily hospitalize people who are considered too mentally ill to take care of themselves.  Adams has been trying to make the subway system feel more safe for riders in a system that’s recovered only 65%...

Some Retailers Are Learning to Love Bulked-Up Inventories

Some Retailers Are Learning to Love Bulked-Up Inventories

While many retailers are discounting, canceling orders and otherwise scrambling to get rid of a glut of goods filling their stores and warehouses, some are embracing their higher inventory levels. Merchants including Dick’s Sporting Goods Inc., Lowe’s Cos. and Walmart Inc. say the rising stocks signal a recovery from last year’s shortages driven by supply-chain disruptions and put them in a strong position to take advantage of consumer demand this holiday shopping period.  “We’re really thrilled that we have in stock for Q4 inventory for the first time in a few years that’s going to...

Sam Bankman-Fried on prospect of prison: This isn’t the time and place to think about that

Sam Bankman-Fried on prospect of prison: This isn’t the time and place to think about that

The disgraced founder of crypto exchange FTX, which went broke after raiding customer funds, says he isn’t particularly focused on any criminal risk he may face right now. His remarks came during a widely-watched interview at a New York Times’ DealBook conference. “There will be a time and place to sort of think about myself and my own future. But I don’t think this is it. Look I’ve had a bad month,” said Sam Bankman-Fried in response to a question from host Andrew Ross Sorkin about whether he was concerned about criminal liability for...

Rapper ‘Killer Mike’ and billionaire Tony Ressler agree capitalism can work with social activism

Rapper ‘Killer Mike’ and billionaire Tony Ressler agree capitalism can work with social activism

Musicians today are carrying forward the genre’s tradition of speaking out on the perils of social inequality and the importance of helping their communities, but some think of capitalism as one of the most effective tools to do so. Michael “Killer Mike” Render counts himself as one of those artists. The Atlanta-born, Grammy Award-winning rapper and activist has been making waves in civil rights and social justice movements in recent years, speaking out against police brutality towards African Americans and criticizing systemic racism.  In 2020, Render co-founded Greenwood, a digital bank platform named after...

The top 10 Fortune 500 companies offering workers the most flexibility

The top 10 Fortune 500 companies offering workers the most flexibility

When the pandemic first hit, some white collar workers began to live out Fifth Harmony’s hit “Work from Home” as they traded in their cubicle for the couch. But the former X-Factor group has yet to make a follow-up song titled “Work from Hybrid Offices.” That would be apt for 2022, which saw employers growing slightly restless in the quest for workplace normalcy as they mandated workers back to the office once and for all. It sparked a rise in hybrid work, a compromise between the bosses who want their team at their desks...

Snap orders workers back to office 4 days a week in ‘default together’ policy

Snap orders workers back to office 4 days a week in ‘default together’ policy

Snap is the latest company to try to bring workers back to the office. Starting in February, Snap employees will be expected to spend at least 80% of their time in the office, coming out to four days a week for most employees, according to an internal memo seen by Bloomberg. The policy, which CEO Evan Spiegel called “default together,” would apply to all of Snap’s 30 offices around the world. Spiegel said the new return-to-office policy would help Snap achieve its “full potential” and argued that what workers might give up “in terms...

Layoffs Create Pitfalls for Finance Executives Looking to Cut Costs

Layoffs Create Pitfalls for Finance Executives Looking to Cut Costs

As some U.S. companies are turning to job cuts to reduce costs, chief financial officers and other executives are navigating a host of potential stumbling blocks.While jobless claims are still historically low, U.S.-based employers announced 33,843 job cuts in October, up 13% from September and up 48% from a year earlier, according to outplacement and executive coaching firm Challenger, Gray & Christmas Inc. October marked the highest number of announced layoffs since February 2021, with cost cutting and market conditions among the top five reasons cited for the layoffs, according to Challenger.  Companies, particularly...

Amid China COVID protests, COVID-zero exit may be ‘disorderly,’ Goldman Sachs says

Amid China COVID protests, COVID-zero exit may be ‘disorderly,’ Goldman Sachs says

China’s climbing COVID caseload and expanding lockdown measures, which prompted rare public protests over the weekend, highlight the risk of an unplanned and chaotic exit from the country’s tough COVID-zero policies, predicts Goldman Sachs. A deadly apartment fire in the Chinese city of Ürümqi has sparked nationwide protests against China’s COVID controls, with videos and reports of demonstrations in cities like Beijing, Shanghai, Wuhan, and Chengdu. In a note published Sunday, Goldman’s chief China economist Hui Shan said the investment bank’s prediction on reopening now “includes some chance of a forced and disorderly exit”...