Market Watch

One would expect that leaders and experts would become humbler about predicting the future. But … [+] Shutterstock 2023 could once again be a testing time for management teams. Unexpected and extreme developments are spilling over from 2022. The volatility of energy prices, supply chains, interest rates, health uncertainties, heightening East-West tensions and the war in Europe are already plaguing the prognostics of the most confident decision makers. In mid-January, the fraught nature of the markets convinced the consulting behemoth McKinsey & Company to turn the oft-cited quote by late F1 champion Ayrton Senna on its head: “You cannot overtake 15 cars in sunny weather,” Senna once said, “but you can when it’s raining.” That was over 30 years ago, and the deluge of seachanges in the geopolitical and macroeconomic worlds has convinced McKinsey that this might not be the time to overtake: “We’re living in a world where new shocks have been layered onto earlier shocks that in turn were layered onto, and dramatically accelerated, longstanding trends such as digitization and sustainability.” However, the need to foresee the future, and the limited ability to predict unexpected and extreme challenges is hardly a new phenomenon. The study of uncertainty […]

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Photo: ©MASHKA – STOCK.ADOBE.COM PURCHASE, NY. — After managing inflation in fiscal year 2022, PepsiCo, Inc. will prepare for a similar scenario this year, albeit with plans for a possible recession in the second half of 2023. Net income attributable to Purchase-based PepsiCo was $8.91 billion, or $6.4 per share on the common stock, in the fiscal year ended Dec. 31, 2022, which was up 17% from $7.62 billion, or $5.49 per share, in the previous fiscal year. Revenue increased 9% to $86.39 billion from $79.47 billion. Organic revenue growth was 14%. Modernizing and harmonizing the company’s IT systems across certain businesses and countries and expanding the global business services initiatives helped PepsiCo deliver more than $1 billion in productivity savings in 2022. Company executives expect inflationary pressures to persist in 2023 and forecast 6% organic revenue growth for the year. “The way we feel about the consumer is based on employment data and wage growth around the world (that) is positive,” said Ramon L. Laguarta, chief executive officer, in a Feb. 9 earnings call. “In our assumption for the year, we’re thinking elasticities might get worse going into the second half of the year based on multiple scenarios […]

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A once-thriving Milwaukee Asian market was left in dire shape by a company that operated it for less than three years before the former owner recently took back control. Now, Phongsavan Asian Market owner Pai Yang has won a court order that could help her eventually collect what she says are hundreds of thousands of dollars in damages. 5xen Inc. operated the market, 6300 N. 76th St., from April 2020 until Jan. 7. That’s when control of the property was turned back over to Yang, who launched Phongsavan in 2009 and completed a major expansion in 2016. Pai Yang sold the business to 5xen nearly three years ago through a land contract. She remained liable for the property’s mortgage debt even though 5xen agreed to take over making payments to the bank. When 5xen stopped making mortgage payments, Chicago-based Byline Bank in 2022 filed a foreclosure suit and obtained a judgment. Milwaukee County Circuit Judge Thomas McAdams in January ordered 5xen to turn the property over to Yang after 5xen failed to make a $3.6 million payment to her. Yang has since sued 5xen, saying it ruined the property and committed theft by removing commercial kitchen equipment, chairs, tables, […]

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Startups usually run at a deficit while designing and building the product. But companies are designed to make money, and over time, as unit economics and customer acquisition costs improve, you’ll probably tip into the blue. Maybe. Hopefully. At the very least, that’s what your investors will be betting on. So that means your business model slide needs to paint a picture that shows where you’re at now and how the business can grow over time. This was the example business model slide I used for my book “Pitch Perfect.” You can see the full template here. Image Credits: Haje Kamps In theory, your “business model” could include every aspect of the business; the Business Model Canvas is one way to explore that, and you could easily spend an hour just talking about the whole end-to-end business model. For the purposes of a funding pitch, however, it’s likely you only need a few crucial elements: COGS, or cost of goods sold, is the incremental cost for each unit you deliver. For software, this typically rounds to zero, but for hardware products or more service-driven businesses, the unit cost can be substantial. CAC, or customer acquisition cost, is the cost […]

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A plastic surgery student being observed by a lecturer in Brazil. According to Mexican physicist Ana María Cetto, the Latin American region should rise up and support initiatives that make science and its results accessible to the general public. Copyright: ReSurge International , (CC BY-NC-ND 2.0) . Ana María Cetto is the new president of UNESCO’s committee on open science Mexican physicist says scientists must fight against ‘privatisation of knowledge’ Assessment, incentive systems must be reviewed [MEXICO CITY] While quantum mechanics might be Ana María Cetto’s big passion, the Mexican physicist has devoted much of her time and energy to promoting a broader scientific endeavor – open science. This commitment paid dividends last month when Cetto, a research professor at the National Autonomous University of Mexico, was named president of UNESCO’s Open Science Steering Committee. For UNESCO, the idea of open science is to make information, data and scientific results more accessible and more reliably used by – and for the good of – society. However, putting it into practice is more complicated than it sounds. Like many others, Cetto has experienced the consequences of so-called “privatised science”, such as when publishing companies charge for publication of and then […]

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Video game stocks soared during the Covid pandemic lockdowns, but declined after the world reopened. Now with an uncertain economy, video game fans are being more cautious with their spending, adding more woes for the beaten-down sector. Shortages of console hardware, especially Sony ‘s ( SONY ) PlayStation 5, and game release delays have contributed to disappointing sales lately, analysts say. But there are reasons for optimism. "We’re bullish on the sector," said David Cole, principal analyst for DFC Intelligence, a research firm that tracks digital entertainment. "We’re finally getting beyond the tough comparables from Covid." Hardware shortages are easing and big new game releases are planned for the months ahead, Cole said. On the hardware front, Sony on Feb. 2 raised its PlayStation 5 sales forecast for the fiscal year ending in March to 19 million units from 18 million. The company said chip shortages that have hindered production since its launch in November 2020 have eased. Video Game Stocks In The Cellar Meanwhile, major games set for release in the first half of 2023 include "Star Wars Jedi: Survivor" from Electronic Arts ( EA ) and "The Legend of Zelda: Tears of the Kingdom" from Nintendo ( […]

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Michigan is poised to remain a leader in transportation technology thanks to its legacy of long-standing relationships with key U.S. automakers, according to a new article from Newsweek . “For years U.S. automakers have been putting lots of money into developing digital technology, ranging from drivetrains and batteries for electric vehicles (EVs) to a broad range of hardware and software connecting cars to the internet and to make them self-driving,” says Jake Lingeman, author of the article. “Increasingly that money is being invested close to U.S. automaking’s ancestral home.” The article covers the contributions Ford Motor Company, Stellantis and General Motors (GM) have made to make Michigan an integral part of their mobility and software engineering advancements. Automakers Invest in Future Success Ford has focused funding in the downtown Detroit area with the creation of the Michigan Central Innovation District. The company bought the historic Michigan Central Train Station in 2018 to act as an anchor for the 30-acre campus to act as a hub for talent, mobility innovation, entrepreneurship, sustainability, affordable housing, small business opportunities and community engagement. Google, who recently joined the project, will work with Ford to help develop the future of mobility in Michigan. “This […]

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This is the restaurant industry’s opportunity to celebrate the general managers who play a key role in operations. CHICAGO, Feb. 10, 2023 /PRNewswire/ — Whether part of a large chain or mom and pop, the linchpin of any restaurant is the general manager. To help restaurant operators put the spotlight on this key position, Restaurant Business this year will debut a new industry-wide award program: GM of the Year. The person who holds the GM role plays a key role in what makes a restaurant succeed—or fail. And the importance of that position has been made ever clearer over the past three years as restaurants across the industry recover from the pandemic, battle historically high costs and compete to recruit and retain the best talent. Across the industry, restaurant companies are launching programs to attract stellar GMs or develop them from within, offering bonuses for top-performing talent that range from financial rewards and trips to Hawaii to equity in the company. RB invites restaurant companies to nominate their best general managers. Restaurant Business editors and a select team of operators will pick winners in three categories: Limited service; full-service and independent restaurants. "The industry has long offered awards to […]

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The US Chamber of Commerce is taking aim at the Biden administration’s efforts to create an ethical framework for the creation and use of artificial intelligence. The Chamber on Thursday filed a series of public-records requests with federal agencies that helped to create the “AI Bill of Rights,” a policy framework that was released by the White House last year. The lobbying group, which represents the country’s biggest companies, is looking for more information about who helped write the framework and which businesses they engaged with during its development. “The AI Bill of Rights was drafted without transparency, adequate stakeholder … To read the full article log in .

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Is the economic impact as big as touted? When the Kansas City Chiefs and Philadelphia Eagles square off this Sunday, Feb. 12, in Super Bowl LVII in Glendale, Arizona, plenty of eyes will be on the action on the field. However, there are numerous economic aspects going on around the big game as well. Benefits for the host city The opportunity to showcase a city to a massive worldwide audience is something public officials dream of, and economic reports that are released seem to make their case. In 2020 when the 49ers and Chiefs faced off in Miami, the Super Bowl Host Committee and Miami Beach commissions reported that the Super Bowl brought in over 4,500 new jobs to the area and had a total economic impact of $571 million. Last year in Los Angeles, where the Rams defeated the Bengals in brand new SoFi Stadium, the local economy was expected to gain up to $477 million. However Tim DeSchriver , associate professor of sport management in the University of Delaware’s Alfred Lerner College of Business and Economics , says those numbers can be overrated. “The visitors’ bureaus and business people with those cities are going to promote that […]

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