Stalled monkeypox vaccines improve danger of unfold and wider outbreak

There are growing concerns that a monkeypox vaccination campaign could be stalled due to supply shortages.

Xinhua News Agency | Getty Images

Concerns are growing that the window to contain the escalating monkeypox outbreak may be closing as vaccine shortages are leaving some at-risk groups waiting weeks to get vaccinated.

Health experts have warned that failure to get the outbreak under control could result in it spreading to other populations or species.

The UK’s health security agency has said its initial batch of 50,000 vaccines will be used up within the next two weeks, with more doses possibly not getting until September. Meanwhile, other high-tier countries are considering new vaccination methods as supplies dwindle.

Bavarian Nordic — the sole supplier of the only approved monkeypox vaccine — announced Thursday that it has signed a deal with contract manufacturer Grand River Aseptic Manufacturing to help fill orders for its Jynneos vaccine in the United States while maintaining capacity release for other countries. The process is expected to take around three months to get underway.

It follows reports on Wednesday that the Danish pharmaceutical company was no longer confident of being able to meet rising demand, according to Bloomberg.

More than 35,000 cases of monkeypox have so far been confirmed in 92 non-endemic countries since the first case was reported in the UK on May 6. Twelve were fatal.

Cases up 20% in a week

The World Health Organization warned on Wednesday that the virus continues to spread, with cases rising by 20% in the past week alone.

While anyone can be infected with monkeypox, the overwhelming majority of cases to date have been confirmed in gay and bisexual men who have sex with other men.

This has prompted a vaccination campaign, particularly in advanced economies, aimed at protecting those most at risk through either pre-exposure or post-exposure vaccination. But shortages in vaccine supplies and delayed launches are increasing the risk of a broader outbreak, infectious disease experts say.

When it comes to stopping an outbreak, you have a very short window of opportunity. At this point, we see this window of time slowly closing.

Professor Eyel Lesham

Infectious Disease Specialist, Sheba Medical Center

“We know from previous outbreaks that you have a very short window of opportunity when you want to stop an outbreak. At this point, we see that window of opportunity slowly closing,” Professor Eyal Leshem of Israel’s Sheba Medical Center told CNBC on Thursday.

That, in turn, could make the virus spread more easily to other groups or behave differently, Leshem said.

“The more cases we see, the less likely it is to contain this disease. We may be seeing spillovers from the current population to other populations,” he said, naming close contacts and household members, including children and pets, as potentially vulnerable groups.

The first known case in this outbreak of an animal catching monkeypox from humans was reported in Paris earlier this week.

Vaccines “not a silver bullet”

As countries wait for more vaccine shipments, some are now trying alternative means of protecting vulnerable groups.

In a letter leaked to the BBC, the UKHSA said it would be holding some leftover stocks solely for post-exposure patients, meaning other people seeking preventative treatment would have to wait.

Elsewhere, Spain – which has the most reported cases of any non-endemic country after the US – last week asked the European Medicines Agency for permission to give people smaller doses of the vaccine in a bid to further distribute limited supplies.

It follows similar dose-saving plans supported by US health officials, which allow one vaccine vial to give up to five separate shots by injecting it between the skin, not under it.

A relatively short and temporary reduction in the rate of vaccine delivery may not have a large impact.

dr Jake Dunning

Senior Researcher, University of Oxford

Still, WHO’s chief technical officer for monkeypox, Dr. Rosamund Lewis on Wednesday that vaccines should not be viewed as the only form of protection against the virus.

“Vaccines are not a silver bullet,” she said, noting that more data is needed on their effectiveness. Current data comes from a small study from the 1980s that found smallpox vaccines to be 85% effective at preventing monkeypox.

She recommended that those who think they may be at risk “reduce the number of sex partners they have [and] Avoiding group sex or casual sex. “If and when someone gets a vaccine, they should also wait until they have had time to elicit the maximum immune response before having intercourse, usually two weeks,” she added.

dr Jake Dunning, senior researcher at Oxford University’s Pandemic Sciences Institute, agreed, noting that a brief dip in vaccination does not necessarily derail broader efforts to combat the virus.

“If it turns out that, in fact, a large proportion of those most at risk of exposure have already been vaccinated, then a relatively short and temporary reduction in vaccination coverage may not have a large impact on meeting the overall target,” he said.

Kevin McCarthy claims Biden is the true risk to the soul of America

House Minority Leader Kevin McCarthy claimed that President Biden, not MAGA fascists, is the real threat to the soul of America.

McCarthy tweeted:

From record inflation and the open border crisis to ousting the police and labeling parents “native terrorists,” the far left is dismantling American democracy before our eyes.

— Kevin McCarthy (@GOPLader) September 4, 2022

McCarthy is the same person who was caught in an audio recording during a call with the House Republican leadership denouncing Trump for his role in the 1/6 attack, leaving Kevin McCarthy with less than zero credibility.

Roe’s ouster changed the midterm election, but Kevin McCarthy is still determined to run against Biden, inflation and borders. The election has been delayed, but Kevin McCarthy is still spreading the same tired message.

No one outside of Donald Trump’s loyal base believes that Joe Biden poses a threat to the soul of America. Unlike Trump, Joe Biden has not stolen classified documents or attempted to overthrow the United States government.

The vast majority of Americans understand who the real threat is.

Kevin McCarthy knows the danger Trump poses to America, but he continues to sell the nation because he believes wearing fascist water will make him the next speaker of the House of Representatives.

Mr. Easley is the managing editor. He is also a White House press pool and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public policy with a specialization in social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association

Mattress Bathtub & Past CFO Gustavo Arnal died by suicide

Signage outside a Bed Bath & Beyond retail store in New York, August 25, 2022.

Gaby Jones | Bloomberg | Getty Images

Bed Bath & Beyond said on Sunday its chief financial officer, Gustavo Arnal, died on Friday after police previously said Arnal fell to his death.

The New York coroner’s office said Sunday night the manager died of multiple blunt trauma and took his own life. Arnal left no note and said nothing about his wife, who was home at the time, sources told WNBC.

“The entire organization of Bed Bath & Beyond Inc. is deeply saddened by this shocking loss,” the company said in a statement.

Arnal, 52, fell from a building in downtown Manhattan on Friday afternoon, according to police. Known locally as the “Jenga Tower” or “Jenga Building,” the iconic skyscraper has more than 50 floors of uniquely stacked apartments.

According to a spokesman for the New York City Deputy Commissioner’s Office, the city’s police department’s public information office, emergency medical services pronounced Arnal deceased at the scene.

Arnal joined Bed Bath in 2020 from London cosmetics company Avon, shortly after the start of the coronavirus pandemic. He also worked for Procter & Gamble for 20 years. In Bed Bath’s statement on Sunday, the company noted that Arnal “has been instrumental in leading the organization during the coronavirus pandemic”.

Since joining Bed Bath, Arnal has made several purchases and sales of the company’s stock. Last month, he sold more than 55,000 shares at prices ranging from $20 to $29.95 per share, for a total of $1.23 million, according to a filing. Those sales came as part of a trading plan he signed in April. The document also noted that he still held 255,396 shares after those latest sales.

Bed Bath’s recent struggles

Bed Bath’s stock is down 43% this year — and about 90% off its all-time high.

Arnal died two days after the company announced plans to close 150 stores of its “less producing” eponymous stores. The New Jersey-based retailer also said it will cut 20% of its workforce, adding that it has secured more than $500 million in new financing, including a loan.

The cost-cutting measures come as Bed Bath’s core business continues to struggle. The company announced a continued slowdown in sales on Wednesday, with same-store sales for the three-month window ending Aug. 27 down 26% — a bigger drop than in previous quarters.

Some analysts say that while the turnaround plan announced on Wednesday will improve the company’s cash position, it won’t be enough to save Bed Bath’s business. Raymond James downgraded the stock Thursday, saying the cost cuts and new funding “just kick the can on the road.”

Bed Bath is one of the public companies involved in so-called “meme trading,” where stocks see wild price swings due to social media hype among retail investors. In August, Bed Bath had several days with price movements of more than 20%.

In mid-August, activist investor Ryan Cohen, a major shareholder in Bed Bath, left his position. Cohens RC Ventures sold its Bed Bath holdings at a price range of $18.68 per share to $29.22 per share. After the sale, the stock plummeted 40%.

Bed Bath is also facing a recent class action lawsuit filed in the District of Columbia alleging that it misrepresented its value and profitability. Arnal is named in the lawsuit, as is Cohen.

Bed Bath told CNBC it would not comment on the litigation. In an Aug. 31 SEC filing, the company noted that it was “researching the complaint,” but based on its current knowledge, it believed the allegations were “baseless.”

If you are having suicidal thoughts, call the Suicide & Crisis Lifeline at 988 for support and help from a trained counselor.

— Additional coverage by CNBC’s Dan Manganese.

Bindi Irwin honors father Steve Irwin on the 16th anniversary of his dying

Cue all the crocodile tears.

On September 4th, the 16th anniversary of the death of Steve Irvinthe daughter of the Crocodile Hunter star Bindy Irwin paid tribute to her father on social media and revealed his heartwarming new nickname.

“Grandpa Crocodile I know you would have been the most amazing grandpa because you were such an extraordinary dad,” she wrote on Instagram on Sept. 4, referring to her 17-month-old daughter Grace Warrior Irwin Powellwhich she shares with her husband Chandler Powell. “Thank you for being an amazing guardian angel for Grace.”

Along with the news, the 24-year-old shared a throwback picture of her and her dad in matching headlights while proudly holding a baby alligator in her hands.

Just weeks earlier, Bindi had shared a heartwarming video of Grace Warrior showing her own love for her maternal grandparents at the Australian Zoo.

“Tears in my eyes sharing this video,” she wrote on Instagram on Aug. 25, with a clip of the toddler walking towards a mural featuring Steve, his wife Terry Irwin and a koala bear. “We call my mom and dad Bunny and Grandpa Crocodile with Grace. She loves them (and koalas) very much. Every time she goes to the zoo, she looks for pictures of her grandparents and it’s beyond that

An Amazon-style wedding ceremony celebrates the couple’s love of e-commerce

Jing Gao and Eddie Levine have both worked in e-commerce for more than a decade.

Eddie Levin

Eddie Levine and Jing Gao first met in 2016 at an e-commerce conference in Atlanta. Two years later, they shared their first kiss before an Amazon seller summit in New Orleans. And in 2020, Gao left her home in Los Angeles to move in with Levine in Chicago, bringing their e-commerce businesses together under one roof.

So it was only logical that when it came time to tie the knot, they would turn to e-commerce for inspiration.

On August 21, the couple married in Chicago, and the wedding reception was filled with Amazonian paraphernalia. At the front desk, guests sat at tables marked with a 10-digit code that could be used to look up products on Amazon’s website (known as ASINs in seller jargon). Wedding favors were tiny Amazon packages, complete with barcodes and filled with goodies, that were placed in miniature shopping carts.

Wedding favors were boxes of treats that looked like miniature Prime packages.

Eddie Levin

Attendees posed for photos in front of a backdrop that announced “Jeddie (a combination of the couple’s first names) Prime Day,” a tribute to Amazon’s annual summer shopping bonanza.

Though the references were a little esoteric, the couple were at least sure some of their guests would understand.

Levine clinked glasses during the reception. “I said, ‘Finally, e-commerce brought us together. If we’ve met you directly or indirectly through e-commerce, stand up,” he said in an interview with CNBC.

“Literally half of our guests stood up.”

However, not everyone understood.

“The bartender said, ‘Can you tell me what all this Amazon-inspired stuff is about?'” said Robyn Johnson, CEO of digital marketing agency Marketplace Blueprint and a friend of the couple who attended the wedding.

Wedding guests were able to take photos against a Prime Day-inspired backdrop.

Eddie Levin

Both Levine and Gao have been in e-commerce for more than a decade. Levine is President and Co-Founder of Hub Dub, which helps brands manage their businesses online and provides logistics services. Gao runs an Amazon store that sells home decoration products.

Levine and Gao are part of an active community of sellers, consultants and service providers that has sprung up around Amazon’s third-party marketplace. Launched in 2000, the marketplace has become a centerpiece of its dominant e-commerce business, as it now accounts for more than half of online retail sales. According to research firm Marketplace Pulse, there were more than six million third-party sellers on the Amazon marketplace worldwide in 2021.

A “Five Hour Marriage Contract”

Gao met Levine at a conference in Atlanta through a consultant who was helping her with her Amazon business and who also happened to be Levine’s boyfriend.

They didn’t get it right away. But over the months that followed, Gao and Levine kept meeting up at e-commerce conferences and developing a friendship.

Their friendship turned romantic in June 2018 at Amazon’s third-party Boost conference in New Orleans. The conference coincided with Gao’s 29th birthday, so she invited Levine and some of her friends to New Orleans’ historic French Quarter for a night of bar hopping. That night they kissed for the first time.

On the last day of the conference, they took a long walk through the streets of New Orleans, a memory they both half-jokingly refer to as their “five-hour marriage contract.”

“We made contracts about where we will live, the family we will bring, the religion we will have in the household, education,” Gao said. “We lined it up.”

“Based on five hours of back and forth, we’ve determined that we’re at least a decent match,” Levine added.

A few days later, Levine flew from Chicago to Los Angeles for their first date. He returned to Chicago the following day in time for a 10-day trip in Europe.

They continued dating long distance for the next two years through June 2020. It was the height of the Covid-19 pandemic and they could no longer safely board a plane for their bi-weekly visits. They decided it was the right time to move in together, and Levine proposed to Gao at Niagara Falls in September.

Levine was the one who came up with the idea for an Amazon-inspired wedding.

“We went through all these ideas and they were so boring,” Levine said. “I wanted something that would show our background and honor our origins.”

Levine, a Jew, chose Jeff Cohen, an Amazon employee who previously worked for Seller Labs, which held the conference they met, as a witness when they signed their marriage contract known as the ketubah. And guests who helped bring the pair together at Amazon events had special “Matchmaker” signs on the backs of their chairs.

They jokingly toyed with the idea of ​​turning their wedding into a full blown Amazon conference, with a software company jokingly offering to sponsor the event.

“I said, ‘No, I’m not getting you a booth at our wedding,'” Levine said.

Senator Graham says he was stating the apparent in claiming Trump unrest

US Senator Lindsey Graham speaks at a press conference at the US Capitol on August 05, 2022 in Washington, DC.

Kevin Dietsch | Getty Images

US Senator Lindsey Graham on Saturday defended allegations that there would be “riots in the streets” if former President Donald Trump was prosecuted for misusing classified information, and said he condemned the violence used during the Capitol riots was seen last year.

“I was trying to state the obvious,” Graham, a South Carolina Republican and close Trump ally, told CNBC’s Steve Sedgwick at the Ambrosetti Forum in Italy.

“Here’s what I said, The raid continues [former] The home of President Trump, the likely candidate for 2024, better bears fruit here,” he added.

“Our country, the people on our side believe that there are no rules in the justice system regarding Trump. [it’s a case of] ‘Get him any way you get him,’ so I said if it’s like Clinton and he’s prosecuted, it’s going to be one of the most disruptive events in America,” Graham said.

Trump and his allies have argued that the FBI, which is investigating Trump for possible violations of the law related to espionage and obstruction of justice, treats him differently than Hillary Clinton, who is the subject of an FBI investigation into her use of a private email server, but was not prosecuted. Trump’s critics argue that the two cases are not comparable.

Graham said he opposed the violence seen in the Jan. 6 Capitol riots, saying “all these people who desecrated the Capitol should go to jail,” but said that any perceived injustice against Trump would have consequences.

“I don’t want to apologize to the January 6 folks because that seems to reinforce the narrative that this is okay. I said something I really believe in – if he does what she did with classified information and he’s prosecuted and she didn’t do it, that would create a problem.”

Graham said last week there would be “riots in the streets” if Trump were prosecuted for misusing classified information.

“I will say this, if there is an indictment against Donald Trump for misappropriating classified information after the Clinton debacle … there will be riots in the streets,” said Graham Trey Gowdy, a former Fox News Republican congressman.

Trump ‘was a consistent president’

Trump is under investigation and at risk of being charged for his handling of classified White House records he brought to his home in Mar-a-Lago, Florida.

Last week, the release of a heavily redacted affidavit showed how concerns about illegal activity and obstruction of justice led to an FBI raid at Trump’s resort in July.

Graham acknowledged that he believes in “the responsible use of classified information” but reiterated that “mishandling of classified information is really bad, but we can’t have a system where one person is prosecuted and the other isn’t.” .

When asked if Trump is the best person to represent the Republican Party in 2024, Graham said, “I think he might be.”

“Whether you like Trump or not, he’s been a consistent president … I think a strong American president, unpredictable, is a good thing as long as you keep him within bounds. His problem is personal, his policies have stood the test of time, but has he exhausted the American people in terms of his personality? The time will tell. But I’m saying this, if there’s a political debate after the Biden presidency in 2024, I think his chances are good. If it’s a personality contest, he’s going to get in trouble.”

Graham said he talks to Trump “all the time” and the former president still thinks he’s been “cheated.” Graham said he voted to confirm the 2020 election and that Biden is the legitimate president.

Trump “really believes the system has been rigged against him, and I said, ‘Mr. President, I’m not trying to tell you to change your beliefs. I’m trying to tell you that you have no chance of winning in 2020 unless you have a pretty good chance of winning 2024 if you want to,'” Graham said, noting that he told Trump when he made a comeback celebrates, “it will be one of the greatest political comebacks in American history”.

Speech and Debate Clause

A federal judge on Thursday denied Graham’s recent attempt to challenge a subpoena for his testimony before a special Georgia grand jury investigating possible criminal interference by Trump and his allies in the 2020 election.

However, the judge limited the scope of the subpoena by ordering that Graham not be questioned about phone calls he made with Georgia Secretary of State Brad Raffensperger and his associates in the weeks following the November 2020 election between Trump and President Joe Biden Has.

It follows continued offers by Graham to avoid testifying on the grounds that his position as legislature grants him immunity under the US Constitution’s “speech or debate” clause.

Graham reiterated his position on Saturday, saying: “I did not start this debate. You have a prosecutor who has decided to investigate a national election and to call anyone and everyone connected to the role he played in the election United States Senator, in our Constitution we have a clause of immunity from speech or debates so we can’t be dragged into courts across the country every time we do something that someone doesn’t like.”

“I think the court will recognize that my activities as a United States Senator were covered by the speech and debate clause that the district attorney’s desire to bring me to Georgia exceeds the constitution.”

Walmart expands worker abortion insurance coverage after Roe v Wade

Customers in front of a Walmart store in Torrance, California, United States, on Sunday, May 15, 2022. Walmart Inc. is expected to release earnings results on May 17th.

Bing Guan | Bloomberg | Getty Images

Walmart told employees Friday that it would expand abortion and related travel coverage, according to an internal memo. The change comes about two months after the Supreme Court overturned the federal right to access the trial.

As of now, Walmart’s health plans cover abortions “when there is a health risk to the mother, rape or incest, ectopic pregnancy, miscarriage, or lack of viability of the fetus,” according to the memo to employees, which was reviewed by CNBC.

Employees and their family members who are insured through Walmart will also have travel expenses covered if they cannot access a legal abortion within 100 miles of their location, according to the email, which was shared by Donna Morris, chief people officer by Walmart.

Walmart is the country’s largest private employer with around 1.6 million employees and is headquartered in Arkansas, where strict abortion restrictions are already in place. The company’s healthcare expansion comes months after Target, Apple and others expanded or confirmed abortion coverage. Still, Walmart’s policy decision is symbolic: The retailer’s more than 4,700 stores are located in cities and towns large and small, with about 90% of Americans living within 10 miles of a location.

Last month, the company’s CEO, Doug McMillon, sent an employee-wide email saying Walmart was “working deliberately and diligently to find the best way forward” following the Supreme Court decision. Walmart didn’t say what changes the company was considering at the time.

The retailer previously offered more limited abortion coverage. According to the company’s employee handbook, fees for “procedures, services, medications and supplies related to abortion or termination of pregnancy are not covered unless the health of the mother would be endangered if the fetus were carried to term, the fetus might not survive the birth process, or death would be imminent after birth.”

Morris included the abortion updates in a memo previewing Walmart’s open enrollment period, a time when employees sign up for benefits. She said the company prepared for the season and made changes after “listening to what our employees care about.”

“We strive to provide high quality, competitive and accessible health insurance that supports you and your families,” she said in the memo.

The company is also opening a fertility services center and increasing financial support for adoptions from $5,000 to $20,000, the memo said.

Walmart’s home state of Arkansas is one of several with a so-called trigger law that would restrict access to abortion immediately after Roe v. should restrict Wade. The state bans all abortions except those intended to save a mother’s life.

The company did not immediately comment on the expansion of the range on Friday.

Man arrested after stealing airplane and threatening to crash Walmart

A longtime airport worker is in police custody after he stole a plane early Saturday morning. The man identified as Cory Wayne Patterson by police, threatened to crash the plane into a Walmart in Mississippi. However, Cory eventually ended up in a field – where authorities arrested him.

According to Tupelo Police Chief John Quaka, Cory was an employee of Tupelo aviation for the last 10 years. He worked as a lineman – responsible for refueling the planes.

But on Saturday he decided to relocate outside of his normal work duties. During a press conference, the boss revealed that Cory stole the twin-engine plane at 5:08 a.m. local time. Cory then took off from Tupelo Regional Airport in a Beechcraft King Air C90. According to CNN, the plane he stole was reportedly fully fueled the night before, but it’s unclear if Cory did the refueling.

Man threatens to break into local Walmart at around 5:30 am

Just before 5:30 a.m. local time, Cory called 911 in Lee County. While speaking with authorities, he threatened to crash the plane into the West Main Walmart in Tupelo. Chief Quaka said the Walmart, surrounding businesses and Main Street were evacuated while the plane was still airborne.

According to CBS, Cory has minimal aircraft experience, including some flight instruction. However, he has neither a pilot’s license nor experience with landing plans.

Tupelo police negotiators convinced Cory to abandon his plan to crash into the chain store. With the help of a licensed pilot, the police and Cory made a plan for him to land the plane at Tupelo Airport. But Cory changed the agreement at the last minute. Instead, he began traveling northwest.

According to CBS, the plane was in the sky for more than five hours. Within that time, Cory posted a message on Facebook essentially saying goodbye. Police said he ran out of fuel around 9:30 a.m. local time. About 30 minutes later, Cory landed the plane in a field several miles from Ripley, Mississippi.

Cory faces stolen plane charges – no injuries reported

Authorities took Cory into custody shortly after landing. He is charged with grand larceny and terrorist threats. The plane sustained minimal damage, despite testimonies that it landed “hard.”

The Federal Aviation Administration is investigating the incident. No one, including Cory, was injured during today’s events.

The plane crashed over North MS. Luckily, the situation resolved and no one was injured. Special thanks to the local, state and federal law enforcement agencies who have handled this situation with the utmost professionalism.

— Governor Tate Reeves (@tatereeves) September 3, 2022

The Walmart, Goal stock errors comprise a message for Foremost Avenue

Philip Radwanski | Light Rocket | Getty Images

The narrative of the retail battles of the last few decades has pitted one of two wars: Amazon and e-commerce against the big brick-and-mortar retailers, and all the big ones against small Main Street entrepreneurs. But in the current confusing economic environment – marked by inflation, supply chain shortages and a volatile consumer changing spending patterns due to post-Covid high prices – small business experts say Main Street may be more optimistic about the benefits of smallness should.

The inventory build-up and subsequent discounts at the biggest retailers, including Walmart and Target, show that even the best can get this consumer economy wrong. Indeed, small business owners who are closer to relationships on both the supplier and customer sides may be able to manage a rapidly changing environment more adeptly.

That’s the advice of Nada Sanders, distinguished professor of supply chain management at Northeastern University. She told CNBC’s Small Business Playbook virtual summit Wednesday that she’s been “gloomy and doomed” in the past but is now optimistic about Main Street’s opportunities in the current economy.

“I actually see this as a tremendous opportunity. I really do. Especially for small businesses,” Sanders said.

She cites three areas entrepreneurs should focus on, and the first is directly related to the problems facing big retailers: forecasting.

“Big companies are really struggling with this,” said Sanders, an academic forecasting expert. “We see it in the retailers, of course. Walmart, Target.”

Speak directly to customers to understand changing consumer demand

In her opinion, the largest companies rely too heavily on inventory algorithms to forecast dates, but in the current economy, which has defied many historical patterns, “historical data in this area isn’t really good data right now. It’s not clean data, it doesn’t show the future, which is very volatile,” she said.

This gives small business owners, who can connect directly with customers to understand their needs, a potential advantage that cannot be calculated by an algorithm.

Whether a small business is B2B or B2C, direct communication is a “real answer” for them right now in dealing with changing consumer behavior, Sanders said.

“What I’m seeing with the big companies is that they’re trying to hire futurists and find ways to actually predict demand. But every time we look at the numbers, the CPI, all of that, we’re looking backwards,” Sanders said. “The fact is we’re in a very rapidly changing landscape and I think we have to reflect “Look ahead. Small business owners really need to connect and use their judgment to forecast and understand what their customers need.”

“As a small business owner on a tight budget…you don’t even need the really heavy AI, which I think a lot of small business owners get a little nervous about…You can actually make a lot of profits with really simple solutions,” said Sanders, ” When you’re a small business, you have end-to-end control that a large business doesn’t have. I see this as a really big opportunity,” she added.

Main Street already believes it is operating in a recession

It will be a leap for many entrepreneurs to come to this view. The data shows that current sentiment on Main Street is bearish. The most recent CNBC|SurveyMonkey Small Business Survey for Q3 2022 showed that small business confidence has hit an all-time low, with the largest percentage of small businesses citing inflation as their top risk.

In the Q3 survey, an increasing percentage of small businesses are forecasting sales to decline over the next 12 months as they believe the economy is already in recession. The bleak selling outlook was the biggest contributor to confidence reaching all-time lows. And as small businesses face higher costs for inputs, labour, transportation and energy, few (just 13%) say now is a good time to pass price increases on to customers, according to the survey.

How to set prices during inflation

But pricing is also an area where small businesses can communicate effectively and directly with their customers and find solutions.

Jeffrey Robinson, provost and executive vice-chancellor at Rutgers Business School and co-founder of the Center for Urban Entrepreneurship and Economic Development, said at the Small Business Playbook Virtual Summit that a big mistake business owners make is pricing new businesses don’t find out products until it’s too late. In times of high inflation, entrepreneurs must base the pricing of new items on a detailed analysis of the cost of production. A traditional way companies set prices – decide on the product and then, once it’s available, see what competitors are charging – isn’t the way to operate in this economy. Inflation requires small business owners to set the price by first understanding their costs.

“All of these prices along the supply chain have gone up,” Robinson said. “Shipping costs…anything that involves a transportation component, that cost has gone up. So if you evaluate and evaluate your product or service that you offer along with that cost before you set the price, you can set the price at the right level,” he said.

And then comes the hard part: explaining it to the customer. Robinson says the direct relationship small businesses have with their customers should also be viewed as an advantage.

“We have relationships. talk,” he said. “Explore. You have to explain to them that the cost of these components has increased. ‘In order for me to do that, I need to change some prices,'” he said.

Helping customers understand the situation a company is in related to supply chain inflation will help set prices appropriately, he said. In the end, Robinson said it was really nothing more than a restaurant that always stated the price of a fish on the menu as “market price”. That may be a simplified example, but it has resonated in the current situation.

Some restaurants have put up signs during the current inflationary period to be transparent to customers about price changes. Robinson hasn’t commented specifically on this method, but said every company needs to have some form of conversation with customers and potential customers that the prices of two years ago won’t be the prices of today. While survey data shows small business owners are cautious about this conversation, Robinson said they shouldn’t be.

“I think a lot of consumers understand that, especially if you’re a business-to-consumer store,” he said. “It’s about being transparent … helping people understand that pricing is changing.”

Plan the supply chain with key vendors

Talking to suppliers is no less important, and according to Sanders, the data shows that on average, 80% of a company’s spend is on about 6% of its suppliers. These are the business partners to focus on and where to pick up the phone and call and build a relationship. “As a small company, that’s really going to be about it,” Sanders said. “I think as a small business you really need to be able to map your supply chain for your most important items, talk to your suppliers and really build partnerships,” she said.

Most large companies don’t have much visibility below their Tier 1 suppliers, according to Sanders, so many items that are far down the supply chain, “Tier four, Tier five,” are harder to track, she said.

A small business can map its supply chain and work with partners to visualize the entire chain and identify the risks. Right now, retail inventory issues could make small business owners more reluctant to stock up — even though it’s the start of peak shopping season, with back to school and then the holidays. Sanders said she firmly believes in running a “lean” operation, but in the current economy “we have to introduce some caveats about the importance of lean.”

In certain cases, small businesses need to stock additional items, critical items with longer lead times and when price increases are anticipated. All companies should also take a look at their production processes and see if there are any alternatives that could lead to more cost-effective operations. Carrying extra inventory “goes against lean,” she said, but she added, “The benefit for a small business is really being able to manage upstream and downstream at the same time and coordinate them.”

The biggest problem in the current economy is the demand/supply mismatch, and this is where Sanders comes back to the issues that Walmart and Target have faced and why small businesses should be opportunistic about the situation and proactively have supply side conversations and end customer side of their companies.

“Big companies are dinosaurs. … They are very cumbersome, bureaucratic. As a small company, you’re very flexible,” she said.

The key for small business owners is not to just look one way, either downstream (customer) or upstream (supplier). “But look at these at the same time, really marry them, watch them and connect with customers, connect with all the vendors,” Sanders said. “Big companies can’t do that. They are stuck because they have huge silos. As a small business, you don’t have that, so take advantage of that now.”

Disney will purchase the remainder of Hulu and stick with the plan, Comcast executives anticipate

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Rafael Henrique | SOPA images | flare | Getty Images

Hulu’s future remains an open question, as Comcast and Disney have still not agreed on terms governing future ownership of the company.

But Comcast executives plan to have Disney buy them out — even though they’d prefer otherwise.

Disney owns two-thirds of Hulu and has an option to buy the remaining 33% from Comcast as early as January 2024. Some analysts and industry watchers have speculated that Comcast could be looking to buy Hulu from Disney, rather than the other way around. Comcast Chief Executive Brian Roberts is a long-time believer in Hulu and has pushed in the past to keep the asset rather than sell it, including in 2013 when Roberts paused talks with DirecTV, according to people familiar with the matter .

Comcast raised the idea of ​​buying Hulu outright from Disney after Disney agreed to acquire the majority of Fox’s assets in a $71 billion deal that closed in early 2019, two of the people behind the deal said asked not to be named because the discussions were private. Disney, which was armed after acquiring Fox’s 66% minority stake in Hulu, scrapped the idea, people said.

Comcast was stymied from buying Hulu outright, and Comcast’s continued belief in the deal led to the unusual deal the two companies reached in May 2019. Comcast agreed to sell Disney its minority stake as early as 2024. As part of this transaction, Disney guaranteed a sale price that values ​​Hulu at a minimum of $27.5 billion.

That amount rose sharply early in the pandemic, giving Comcast hope that Disney might choose to offload Hulu rather than pay Comcast a huge check for the remainder, two of the people said. The Hulu spin-off would have allowed Disney to focus its focus and money primarily on Disney+.

“I think if Disney could turn back the clock today, I’m not sure they would make that deal,” said Neil Begley, an analyst at Moody’s Investors Services. “Disney has to pay this huge bill in 2024, at a time when they’re already putting a lot of money into Disney+.”

Disney’s acquisition of Hulu would also accelerate Comcast’s streaming efforts. Hulu would immediately become Comcast’s flagship streaming asset, replacing NBCUniversal’s Peacock, which has added just 13 million paying subscribers in its nearly two years of existence. Hulu has 46.2 million subscribers. Peacock could live on as a free ad-supported option from NBCUniversal. Peacock already has a free tier with millions of users.

Several senior Comcast executives also think that Hulu doesn’t make as much sense in connection with Disney’s assets as it does with NBCUniversal, especially given the recent announcement that Disney+ plans to launch an ad-supported tier in December, according to those familiar with the matter Persons. Hulu has been Disney’s ad-supported service for years. Disney could have positioned Hulu as an advertising medium for the future, but CEO Bob Chapek has chosen to create both commercial and non-commercial versions of Disney+ and Hulu.

Disney and Comcast spokespeople declined to comment.

Bob Chapek, CEO of The Walt Disney Company and former head of Walt Disney Parks and Experiences, speaks during a media preview of the 2019 D23 Expo in Anaheim, California August 22, 2019.

Patrick T Fallon | Bloomberg via Getty Images

Why Disney wants Hulu

Netflix’s slowing growth this year has led to a broader devaluation of the streaming sector. Comcast executives value Hulu “significantly higher” than $27.5 billion and possibly as high as $50 billion, one of the people said. That’s less than about $60 billion during the pandemic, the person said. If Disney sticks with its plan to buy Comcast by January 2024, there’s still time for significant valuation swings.

Disney’s decision to lower Disney+’s 2024 projections and subsequent move to raise prices signaled to Wall Street that Chapek was no longer focused on adding subscribers at any cost.

It’s sent a signal to Comcast that Hulu is likely in Disney’s long-term plans. Excluding Hulu with Live TV, Hulu’s average revenue per user is $12.92 per month. That’s almost triple Disney+’s global ARPU of $4.35 and more than double Disney+’s ARPU in the US and Canada ($6.27).

Disney has built a streaming strategy around bundling Disney+, Hulu, and ESPN+. While Disney increased the price of Disney+ by 38% and the price of ESPN+ by 43%, it increased its bundled offering of Disney+, Hulu (with ads) and ESPN+ by just $1, from $13.99 to $14. $99. That suggests Disney’s preferred option is for customers to pay for the entire package, including Hulu.

Media and entertainment companies have begun to focus on building profitable subscribers rather than simply adding subscribers in recent months as industry-wide streaming growth has slowed. If Disney doesn’t bank on Disney+’s growth, Hulu will become a more important part of its long-term strategy.

“People are becoming more sensible about their spending,” Kevin Mayer, Disney’s former streaming boss, said on CNBC last month. “Wall Street is once again emphasizing not only topline subscriber count, but bottom line as well. I think that’s healthy.”

Comcast vs Disney

There is also the problem of competitive dynamics. One of the main reasons Disney stuck with Hulu and acquired other Fox assets was to keep them off Comcast, according to people familiar with the matter. Handing Hulu over to Comcast would shift the balance of power in the media world and weaken Disney, thought then-CEO Bob Iger, People said.

Comcast has already taken steps to weaken Hulu on the assumption Disney will keep it. Earlier this year, Comcast made the decision to remove content like “Saturday Night Live” and “The Voice” from the streaming service and put it on Peacock instead. This change will take place later this month.

Comcast has already earmarked a portion of the proceeds to pay down debt. Comcast executives say they don’t need the money and aren’t independently trying to accelerate a schedule, two of the people said.

And Loeb’s desire

Daniel Loeb

Simon Dawson | Bloomberg | Getty Images

Activist investor Dan Loeb’s Third Point Capital bought a new stake in Disney last month, arguing that Disney should not only finalize its deal for Hulu but also speed up its timing.

“We urge the company to make every attempt to acquire Comcast’s remaining minority interest before the contract expires in early 2024,” Loeb said in a letter to Chapek. “We believe it would be wise for Disney to even pay a modest premium to expedite the integration, however we recognize that the seller may have an inappropriate price expectation at this point (noting that the seller already has the made the decision to prematurely remove its own content from the platform.) We know this is a priority for you and hope to reach an agreement before Comcast is contractually committed to this in approximately 18 months.”

According to people familiar with the matter, Disney has not publicly addressed the specifics of Loeb’s inquiries and has not made a decision on whether it plans to accelerate its timeline to purchase Comcast’s stake in Hulu.

Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.

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