Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th


Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. In its heyday in th
Toys R Us built a kingdom and the world’s biggest toy store. Then, they lost it. Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


Toys R Us built a kingdom and the world's biggest toy store. Then, they lost it.

The toy emporium that Charles P. Lazarus envisioned has been reduced to dusty floors and empty shelves.

Much has been said about the demise of the toy empire, which this week announced its plan to liquidate. There have been fingers pointed at corporate raiders, Amazon and big-box stores. All contributed to its undoing.

Ultimately, though, Toys R Us’ collapse is a story of loyalty run dry. The store in its early days fostered devotion from customers and toymakers. In the end, it lost hold on both.

Toys R Us’ status as the most important toy store in town left it cavalier, if cocky at times, according to conversations with former employees, executives and industry insiders, who spoke to CNBC on the condition of anonymity. It didn’t invest in its stores, even as it was adding to the fleet, leaving it vulnerable when new competition moved in.

The story begins with Lazarus, the store’s visionary who wanted the “R” written backward — an ode to childlike scrawl. Lazarus, who has been described as one of the great merchants of his time, expanded a baby furniture store he owned into a toy store. By 1978, he had created a toy superstore large enough to become a public company.

In its heyday in the 1980s and 1990s, it was the most important toy store in the country, if not the world. Its strength grew as competitors Kiddie City and Child World went out of business.


Company: cnbc, Activity: cnbc, Date: 2019-01-26  Authors: lauren hirsch, eduardo munoz, jacques m chenet, corbis, getty images, scott mlyn, peter foley, bloomberg, jason alden
Keywords: news, cnbc, companies, written, toy, biggest, toys, worlds, built, went, store, lost, stores, lazarus, world, week, kingdom, important


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Here are the most popular marijuana stocks as Canada becomes the largest country to legalize pot

Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July. Some members of Wall Street’s cannabis community cautioned that the rapid rise in pot stock prices could be followed by modest sales in the early innings of legalization, including the top analyst in the space. “For product availability on day one it’s going to be pretty limited: no traditional vapor


Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July. Some members of Wall Street’s cannabis community cautioned that the rapid rise in pot stock prices could be followed by modest sales in the early innings of legalization, including the top analyst in the space. “For product availability on day one it’s going to be pretty limited: no traditional vapor
Here are the most popular marijuana stocks as Canada becomes the largest country to legalize pot Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: thomas franck, trevor hagan, bloomberg, getty images
Keywords: news, cnbc, companies, marijuana, pot, popular, going, lost, stocks, legalize, streets, canada, country, stock, largest, tilray, wall, product, rise


Here are the most popular marijuana stocks as Canada becomes the largest country to legalize pot

Cramer: If you want to own pot stocks, you have to believe deregulation will happen in 5 years 6 Hours Ago | 02:04

Medical marijuana company Tilray, whose stock has posted a meteoric rise on the Nasdaq since its initial U.S. offering in July, shed more than 6 percent Wednesday. Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July.

Some members of Wall Street’s cannabis community cautioned that the rapid rise in pot stock prices could be followed by modest sales in the early innings of legalization, including the top analyst in the space.

“While the opportunity is large, the market is going to develop in phases both in terms of product availability as well as retail access points,” Cowen analyst Vivien Azer told CNBC in an interview Tuesday. “For product availability on day one it’s going to be pretty limited: no traditional vapor products, beverages or edibles. That could take as much as a year.”

Aurora Cannabis dropped 1.5 percent in Canadian trading, while Cronos Group lost 5 percent in Toronto. The ETFMG Alternative Harvest exchange-traded fund — one of Wall Street’s favorite marijuana ETFs — fell 3 percent in the session.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: thomas franck, trevor hagan, bloomberg, getty images
Keywords: news, cnbc, companies, marijuana, pot, popular, going, lost, stocks, legalize, streets, canada, country, stock, largest, tilray, wall, product, rise


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How much Jeff Bezos, Mark Zuckerberg lost in the stock market slide

The CEOs of Facebook, Amazon, Apple, Alphabet and Netflix lost nearly $16 billion in personal wealth as tech shares slid Wednesday and Thursday amid a market sell-off. Amazon CEO Jeff Bezos took the hardest hit with a two-day loss of nearly $12 billion, followed by Alphabet CEO Larry Page at $2.3 billion. Facebook’s Mark Zuckerberg saw the value of his shares drop $1.7 billion. Meanwhile, Reed Hastings and Tim Cook, the chief executives of Netflix and Apple, fared slightly better, with two-day l


The CEOs of Facebook, Amazon, Apple, Alphabet and Netflix lost nearly $16 billion in personal wealth as tech shares slid Wednesday and Thursday amid a market sell-off. Amazon CEO Jeff Bezos took the hardest hit with a two-day loss of nearly $12 billion, followed by Alphabet CEO Larry Page at $2.3 billion. Facebook’s Mark Zuckerberg saw the value of his shares drop $1.7 billion. Meanwhile, Reed Hastings and Tim Cook, the chief executives of Netflix and Apple, fared slightly better, with two-day l
How much Jeff Bezos, Mark Zuckerberg lost in the stock market slide Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: ruth umoh, getty images, caiaimage robert daly
Keywords: news, cnbc, companies, netflix, billion, bezos, jeff, ceo, million, stock, shares, market, nearly, loss, apple, zuckerberg, slide, tech, twoday, mark, lost


How much Jeff Bezos, Mark Zuckerberg lost in the stock market slide

The CEOs of Facebook, Amazon, Apple, Alphabet and Netflix lost nearly $16 billion in personal wealth as tech shares slid Wednesday and Thursday amid a market sell-off.

Amazon CEO Jeff Bezos took the hardest hit with a two-day loss of nearly $12 billion, followed by Alphabet CEO Larry Page at $2.3 billion. Facebook’s Mark Zuckerberg saw the value of his shares drop $1.7 billion.

Meanwhile, Reed Hastings and Tim Cook, the chief executives of Netflix and Apple, fared slightly better, with two-day losses of $192 million and $11 million respectively.

Of course, compared to their total net worth, being down a few million or even billion, is a relatively small loss for these tech leaders. And as of Friday midday, tech shares were already rebounding.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: ruth umoh, getty images, caiaimage robert daly
Keywords: news, cnbc, companies, netflix, billion, bezos, jeff, ceo, million, stock, shares, market, nearly, loss, apple, zuckerberg, slide, tech, twoday, mark, lost


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Has Ryanair chief Michael O’Leary lost his cost-killing touch?

In 1995, soon after taking over as chief executive of Ryanair, Michael O’Leary wrote a characteristically plain-speaking memo. Mr. O’Leary has been true to his word: Ryanair’s hard-nosed culture has produced an airline with few frills but market-leading profitability and a superior valuation. It is true that most airlines have suffered this year but Ryanair, whose shares have fallen by almost 30 percent, has previously outshone the market. “The employment practices of Ryanair were unique and — a


In 1995, soon after taking over as chief executive of Ryanair, Michael O’Leary wrote a characteristically plain-speaking memo. Mr. O’Leary has been true to his word: Ryanair’s hard-nosed culture has produced an airline with few frills but market-leading profitability and a superior valuation. It is true that most airlines have suffered this year but Ryanair, whose shares have fallen by almost 30 percent, has previously outshone the market. “The employment practices of Ryanair were unique and — a
Has Ryanair chief Michael O’Leary lost his cost-killing touch? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: josh spero, arthur beesley, emmanuel dunand, afp, getty images, jasper jacobs
Keywords: news, cnbc, companies, touch, ryanair, chief, soon, costkilling, michael, shares, lost, true, profit, warning, oleary, ryanairs, industry, strikes


Has Ryanair chief Michael O'Leary lost his cost-killing touch?

In 1995, soon after taking over as chief executive of Ryanair, Michael O’Leary wrote a characteristically plain-speaking memo. His mission to control costs would be “ruthless . . . at the expense of charm, style and elegance if necessary”.

Mr. O’Leary has been true to his word: Ryanair’s hard-nosed culture has produced an airline with few frills but market-leading profitability and a superior valuation.

But the low-cost carrier, which issued a profit warning this week and its shares dropped 11 percent in response, is suffering its most turbulent period, beset by strikes, high fuel prices and fiercer competition.

Investors and industry figures are even asking whether Ryanair’s best days are behind it.

Daniel Roeska, an analyst at Bernstein, reckons that last year’s net income of €1.45bn “is an earning level they will not be reaching any time ever again soon”. This week’s warning brought the 2019 profit target down more than 10 percent to €1.1bn-€1.2bn.

In an interview with the Financial Times, Mr. O’Leary warned that there might be further bad news to come: “Do we have to trim guidance again for the year? We hope we don’t have to but again it can’t be ruled out if [ticket] pricing continues to fall and oil prices continue to rise.”

He was sanguine, though, about the company’s stock: “Our share price has been grim, but the performance of most of our peers has been equally grim.”

It is true that most airlines have suffered this year but Ryanair, whose shares have fallen by almost 30 percent, has previously outshone the market. On a five-year basis, IAG, the parent of British Airways and Iberia, has now caught up with its low-cost rival, having spent most of that period trailing by a large margin.

While the industry has been hit by a surging oil price and over capacity, Ryanair has endured a particularly painful series of strikes that have left passengers exasperated and investors worried that Mr. O’Leary is losing his ability to control costs.

“The employment practices of Ryanair were unique and — as it appears now — not sustainable,” said Andrew Lobbenberg, an analyst at HSBC. “Their units costs will still be very good, and almost certainly among the best in the industry, but the gap will narrow.”


Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: josh spero, arthur beesley, emmanuel dunand, afp, getty images, jasper jacobs
Keywords: news, cnbc, companies, touch, ryanair, chief, soon, costkilling, michael, shares, lost, true, profit, warning, oleary, ryanairs, industry, strikes


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Self-made millionaire Ramit Sethi uses these 3 credit card hacks to save time and money

Basically, if you buy something with your credit card and that item then gets stolen or damaged (or, sometimes, lost) within a few months, you might be able to recover money from your credit card company. When Sethi went to get the laptop repaired, it “cost a ton of money,” he says. “I called my credit card [company], they said ‘Send us the bill.'” “If you buy something and it gets destroyed, lost or stolen within 60 to 90 days, your credit card [company] will often reimburse you for the full [c


Basically, if you buy something with your credit card and that item then gets stolen or damaged (or, sometimes, lost) within a few months, you might be able to recover money from your credit card company. When Sethi went to get the laptop repaired, it “cost a ton of money,” he says. “I called my credit card [company], they said ‘Send us the bill.'” “If you buy something and it gets destroyed, lost or stolen within 60 to 90 days, your credit card [company] will often reimburse you for the full [c
Self-made millionaire Ramit Sethi uses these 3 credit card hacks to save time and money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-03  Authors: tom huddleston jr, ali montag
Keywords: news, cnbc, companies, save, sethi, money, stolen, uses, gets, lost, card, purchase, laptop, millionaire, hacks, ramit, credit, company, selfmade


Self-made millionaire Ramit Sethi uses these 3 credit card hacks to save time and money

“One of my favorites is something called purchase protection,” says Sethi.

Basically, if you buy something with your credit card and that item then gets stolen or damaged (or, sometimes, lost) within a few months, you might be able to recover money from your credit card company.

“This happened to me,” Sethi tells CNBC Make It. “I bought a brand new laptop, I’m sitting there in the coffee shop two weeks later — boom, I drop my entire cup of coffee directly in the keyboard. Oh god, why did I do that?”

When Sethi went to get the laptop repaired, it “cost a ton of money,” he says. “I called my credit card [company], they said ‘Send us the bill.'”

“So, think about that,” Sethi says. “If you buy something and it gets destroyed, lost or stolen within 60 to 90 days, your credit card [company] will often reimburse you for the full [cost].”

Credit card companies do place caps on how much money customers can get per purchase, ranging anywhere from $500 with Chase Freedom to $10,000 for cards like the American Express Premier Rewards Gold Card, according to personal finance blog The Points Guy.


Company: cnbc, Activity: cnbc, Date: 2018-10-03  Authors: tom huddleston jr, ali montag
Keywords: news, cnbc, companies, save, sethi, money, stolen, uses, gets, lost, card, purchase, laptop, millionaire, hacks, ramit, credit, company, selfmade


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Sales of Chevy’s electric car, the Bolt, tank 41 percent during the third quarter

General Motors Q3 US sales down 11.1 percent from last year 4 Hours Ago | 01:09Sales of Chevrolet’s electric car, the Bolt, are tanking. Bolt sales plunged 41 percent during the third quarter from the same time last year and are down 17 percent since the beginning of the year, General Motors said Tuesday. Sales of several models across GM’s brands saw declines in the quarter, while others saw gains. Chevrolet saw a year-over-year decline of 11.4 percent, GMC saw a decline of 11.3 percent, Cadill


General Motors Q3 US sales down 11.1 percent from last year 4 Hours Ago | 01:09Sales of Chevrolet’s electric car, the Bolt, are tanking. Bolt sales plunged 41 percent during the third quarter from the same time last year and are down 17 percent since the beginning of the year, General Motors said Tuesday. Sales of several models across GM’s brands saw declines in the quarter, while others saw gains. Chevrolet saw a year-over-year decline of 11.4 percent, GMC saw a decline of 11.3 percent, Cadill
Sales of Chevy’s electric car, the Bolt, tank 41 percent during the third quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: robert ferris, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, tank, motors, electric, sales, model, chevys, quarter, bolt, saw, decline, 41, lost, car, yearoveryear, production


Sales of Chevy's electric car, the Bolt, tank 41 percent during the third quarter

General Motors Q3 US sales down 11.1 percent from last year 4 Hours Ago | 01:09

Sales of Chevrolet’s electric car, the Bolt, are tanking.

Bolt sales plunged 41 percent during the third quarter from the same time last year and are down 17 percent since the beginning of the year, General Motors said Tuesday.

“The decline is more a function of us diverting production to Canada and South Korea, coupled with low stocks in the U.S.,” GM spokesman Jim Cain told CNBC in an email. “We’re still proceeding with the Q4 production increase we announced in the last sales release.” Cain added that investors should expect lower U.S. sales for 2018 but higher global sales.

Billed as a compact crossover, the Bolt is GM’s foray into electric vehicles, touted as a potential rival to cars such as the Tesla Model 3 and the Nissan Leaf. Its base model lists a starting price of $37,495.

Sales of several models across GM’s brands saw declines in the quarter, while others saw gains.

GM’s total sales are down 11 percent over the same quarter last year and 1.2 percent this year. Chevrolet saw a year-over-year decline of 11.4 percent, GMC saw a decline of 11.3 percent, Cadillac lost 10.7 percent and Buick lost 7.3 percent.

The Bolt is not to be confused with the Chevrolet Volt, a hybrid, which actually saw a year-over-year increase of nearly 23 percent in sales.


Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: robert ferris, frederic j brown, afp, getty images
Keywords: news, cnbc, companies, tank, motors, electric, sales, model, chevys, quarter, bolt, saw, decline, 41, lost, car, yearoveryear, production


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Marijuana stock Tilray plunges 16% after PepsiCo CFO says company has no pot plans

Cannabis stocks fell across the board Tuesday after PepsiCo told investors that the food and beverage giant said it has no plans to invest in marijuana. “So we look at everything, but certainly no plans at this point to do anything.” Tilray, one of the most volatile of the weed equities, lost about one-fifth of its value at one point. Shares of PepsiCo, meanwhile, lost 1.8 percent Tuesday. The stock lost 2.9 percent Tuesday.


Cannabis stocks fell across the board Tuesday after PepsiCo told investors that the food and beverage giant said it has no plans to invest in marijuana. “So we look at everything, but certainly no plans at this point to do anything.” Tilray, one of the most volatile of the weed equities, lost about one-fifth of its value at one point. Shares of PepsiCo, meanwhile, lost 1.8 percent Tuesday. The stock lost 2.9 percent Tuesday.
Marijuana stock Tilray plunges 16% after PepsiCo CFO says company has no pot plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: thomas franck, uriel sinai, getty images
Keywords: news, cnbc, companies, marijuana, tilray, told, company, cfo, pot, cannabis, stock, think, plans, shares, plunges, pepsico, stocks, lost, 16


Marijuana stock Tilray plunges 16% after PepsiCo CFO says company has no pot plans

Cannabis stocks fell across the board Tuesday after PepsiCo told investors that the food and beverage giant said it has no plans to invest in marijuana.

Though most of the marijuana stocks opened Tuesday without much fanfare, they took a leg lower after PepsiCo Chief Financial Officer Hugh Johnston told Cowen analyst Vivien Azer on the company’s earnings conference call that the company is steering clear of pot for now.

“I think the difficulties in investing in that category, particularly in the U.S., where federally these things are still not legal, are quite a considerable challenge,” he said on the call. “So we look at everything, but certainly no plans at this point to do anything.”

Tilray, one of the most volatile of the weed equities, lost about one-fifth of its value at one point.

The shares closed lower by 16 percent. Peers Canopy Growth dropped 7.4 percent while HEXO shed 9.4 percent in Toronto. Tilray is a medical cannabis producer.

Shares of Aurora Cannabis, which had reportedly at one time been in talks with Coca-Cola for weed-infused beverages, fell 5 percent on the Toronto stock exchange.

“For Tilray, and a very limit amount of shares, trading action is a lot of everyday news speculation and it can move around the stock around one way or another,” said ROTH Capital Partners analyst Scott Fortune.

“There’s still a lot of speculation in the space for partnerships, but I think it will take time to play out,” he added.

Shares of PepsiCo, meanwhile, lost 1.8 percent Tuesday. Johnston later told CNBC in an interview, “I think we’ll look at it critically, but I’m not prepared to share any plans that we may have in the space right now.”

Other stocks in the limelight include pharmaceutical companies, including GW Pharmaceuticals, that produce and market drugs that use cannabinoids. The stock lost 2.9 percent Tuesday.

Tilray has enthralled Wall Street over the past few weeks after posting its best day ever following approval from the Drug Enforcement Administration to import pot to the United States for medical research.

The stock is up more than 517 percent since its initial public offering in mid-July.

Given the excitement around what appears to be an amenable DEA, Tilray shares have swung wildly over the last 20 days as investors are pinned between interest in a stake in the burgeoning industry and fears of an asset bubble.

Both Aurora Cannabis and Canopy Growth have endured similar frenzy over the last few weeks.

Aurora has rallied 35 percent over the past month in Canadian trading after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages.

—With reporting by Lauren Hirsch.


Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: thomas franck, uriel sinai, getty images
Keywords: news, cnbc, companies, marijuana, tilray, told, company, cfo, pot, cannabis, stock, think, plans, shares, plunges, pepsico, stocks, lost, 16


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Nearly 2.5 tons of grapes stolen from Virginia vineyard: Report

A Virginia winemaker awoke earlier this week to a very unpleasant surprise: Virtually all of the grapes in his vineyard had been stolen overnight, WFXR News reported on Friday. According to the report, Firefly Hill Vineyards owner David Dunkenberger lost around 2.5 tons of grapes in the unusual robbery, after unidentified perpetrators stole the fruitful bounty from his field on Monday night. The theft resulted in $50,000 of lost wine profits, Dunkenberger told WFXR, a local Fox affiliate based i


A Virginia winemaker awoke earlier this week to a very unpleasant surprise: Virtually all of the grapes in his vineyard had been stolen overnight, WFXR News reported on Friday. According to the report, Firefly Hill Vineyards owner David Dunkenberger lost around 2.5 tons of grapes in the unusual robbery, after unidentified perpetrators stole the fruitful bounty from his field on Monday night. The theft resulted in $50,000 of lost wine profits, Dunkenberger told WFXR, a local Fox affiliate based i
Nearly 2.5 tons of grapes stolen from Virginia vineyard: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: waverly colville, jean-sebastian evrard, getty images
Keywords: news, cnbc, companies, lost, vineyard, works, hours, told, report, nearly, wfxr, virginia, dunkenberger, tons, 25, stolen, grapes


Nearly 2.5 tons of grapes stolen from Virginia vineyard: Report

A Virginia winemaker awoke earlier this week to a very unpleasant surprise: Virtually all of the grapes in his vineyard had been stolen overnight, WFXR News reported on Friday.

According to the report, Firefly Hill Vineyards owner David Dunkenberger lost around 2.5 tons of grapes in the unusual robbery, after unidentified perpetrators stole the fruitful bounty from his field on Monday night.

The theft resulted in $50,000 of lost wine profits, Dunkenberger told WFXR, a local Fox affiliate based in Roanoke.

Dunkenberger said it only took him a minute to realize his vineyard was nearly picked clean, which appeared to have happened between the hours of 5 p.m. Monday and 7 a.m. Tuesday. Dunkenberger said it usually takes six to eight people about six hours to pick through one variety of grapes, and six varieties were stolen that night.

“Disbelief. I mean, how could it be anything but disbelief?” Dunkenberger said to Virginia First. He told the station that the crop was expected to make at least 1200 liters of wine.

Dunkenberger works a separate full-time job to allow him to keep the vineyard, which he is unsure he’ll be able to do anymore.

The full story can be found on WFXR’s website.


Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: waverly colville, jean-sebastian evrard, getty images
Keywords: news, cnbc, companies, lost, vineyard, works, hours, told, report, nearly, wfxr, virginia, dunkenberger, tons, 25, stolen, grapes


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US presidential hopeful: Free money can help save the country from jobs lost to robots

Entrepreneur Andrew Yang is running for U.S. president, and he’s made the robot revolution a central pillar of his election campaign for the 2020 race. A Democrat, he has said the rise of automation and artificial intelligence will soon render millions of American jobs obsolete. To prevent widespread unemployment, he’s proposing monthly stipends of $1,000 for all citizens aged 18 to 64, no strings attached. The theory is that such payouts would create 4.5 million jobs by channeling more consumer


Entrepreneur Andrew Yang is running for U.S. president, and he’s made the robot revolution a central pillar of his election campaign for the 2020 race. A Democrat, he has said the rise of automation and artificial intelligence will soon render millions of American jobs obsolete. To prevent widespread unemployment, he’s proposing monthly stipends of $1,000 for all citizens aged 18 to 64, no strings attached. The theory is that such payouts would create 4.5 million jobs by channeling more consumer
US presidential hopeful: Free money can help save the country from jobs lost to robots Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: nyshka chandran, andrew yang
Keywords: news, cnbc, companies, yang, free, money, unemployment, hopeful, save, trump, presidential, proposing, president, monthly, hes, help, country, lost, american, million, robots, jobs


US presidential hopeful: Free money can help save the country from jobs lost to robots

Entrepreneur Andrew Yang is running for U.S. president, and he’s made the robot revolution a central pillar of his election campaign for the 2020 race.

Yang is the founder of Venture for America, a nonprofit that helps entrepreneurs create jobs, and he was previously the CEO of education firm Manhattan Prep. A Democrat, he has said the rise of automation and artificial intelligence will soon render millions of American jobs obsolete. To prevent widespread unemployment, he’s proposing monthly stipends of $1,000 for all citizens aged 18 to 64, no strings attached.

With a third of American workers at risk of permanent unemployment from new technologies in the next 12 years, “we have to accelerate both American society and the government to help manage this transition,” he told CNBC’s Akiko Fujita on the sidelines of the CLSA Investors’ Forum in Hong Kong.

The theory is that such payouts would create 4.5 million jobs by channeling more consumer spending power into the economy and fuel mainstream businesses, he projected, citing estimates from The Roosevelt Institute. “By implementing this, you also strengthen the consumer market which businesses need, this is essential for capitalism to continue in its current form,” he said.

To pay for the monthly handouts, the 43 year-old is proposing a 10 percent value-added tax on corporations that he says will generate $800 billion in new revenue.

While President Donald Trump wants to bring jobs back to American shores, Yang simply doesn’t believe those jobs are coming back. Trump won because the country “automated away four million manufacturing jobs” in areas like Michigan, Wisconsin and Pennsylvania, according to Yang, a trained corporate lawyer who announced his candidacy earlier this year.


Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: nyshka chandran, andrew yang
Keywords: news, cnbc, companies, yang, free, money, unemployment, hopeful, save, trump, presidential, proposing, president, monthly, hes, help, country, lost, american, million, robots, jobs


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If you bought at the top of the crypto bubble, here’s how much you’ve lost

Those who bought cryptocurrency at the start of 2017 likely felt pretty savvy in December. But if you bought late last year, that’s certainly not the case today. The entire crypto market has lost roughly 65 percent of its value as of Thursday but some coins have fared worse than others. Here’s where you’d stand if you invested $1,000 in the top five coins at the height of their hype:


Those who bought cryptocurrency at the start of 2017 likely felt pretty savvy in December. But if you bought late last year, that’s certainly not the case today. The entire crypto market has lost roughly 65 percent of its value as of Thursday but some coins have fared worse than others. Here’s where you’d stand if you invested $1,000 in the top five coins at the height of their hype:
If you bought at the top of the crypto bubble, here’s how much you’ve lost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-06  Authors: kate rooney, getty images
Keywords: news, cnbc, companies, coins, heres, worse, start, lost, stand, crypto, todaythe, youve, value, savvy, thats, bought, bubble, youd


If you bought at the top of the crypto bubble, here's how much you've lost

Those who bought cryptocurrency at the start of 2017 likely felt pretty savvy in December. But if you bought late last year, that’s certainly not the case today.

The entire crypto market has lost roughly 65 percent of its value as of Thursday but some coins have fared worse than others.

Here’s where you’d stand if you invested $1,000 in the top five coins at the height of their hype:


Company: cnbc, Activity: cnbc, Date: 2018-09-06  Authors: kate rooney, getty images
Keywords: news, cnbc, companies, coins, heres, worse, start, lost, stand, crypto, todaythe, youve, value, savvy, thats, bought, bubble, youd


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