The recent release of “Unfrosted,” which was directed by Jerry Seinfeld, had an underwhelming debut on Netflix and has even been declared “one of the decade’s worst movies.” But with a star-studded cast that includes Seinfeld, Jim Gaffigan and Amy Schumer, plus America’s love of the Pop-Tart – $US3 billion sold in 2022 – the […]
Does the US have a planned economy? You might be surprised
During the Cold War, a heated debate arose over the role of economic planning. Did the “planned” economy of the USSR or the “free market” economy of the U.S. allocate resources more productively? Arguments against planned economies centered on the limits of information processing, the feasibility of production forecasts and the inflexibility of centralized plans. […]
Telstra says slashing almost a tenth of its workforce will help save $350 million. Why is the business under pressure?
On Tuesday, Telstra announced it will be cutting up to 2,800 jobs as part of a major restructure. Of these layoffs, 377 will take effect immediately from within the Telstra Enterprise business unit. Most of the remaining cuts will be announced in detail soon and finalised by the end of the year. Telstra CEO Vicki […]
Indigenous businesses are worth billions but we don’t know enough about them
Indigenous businesses generate about A$16 billion a year in revenue and employ more than 116,000 people – almost as many as the massive Coles retail group. But the contribution of these businesses to the Australian economy has long been underestimated. This is despite Indigenous businesses delivering, among other things, important culturally sensitive health and education […]
Does ‘virtue signaling’ pay off for entrepreneurs? We studied 81,799 Airbnb listings to find out
The next time you’re searching through Airbnb listings, you may find there’s more to consider than just amenities and price. To stand out from the competition, some Airbnb hosts tout their personal values – such as integrity, empathy and conscientiousness – in listings for their properties. This sort of display has been called “virtue signaling.” […]
The backlash against diversity, equity and inclusion in business is in full force − but myths obscure the real value of DEI
Few ideas in business are as misunderstood as DEI. While opposition to DEI – diversity, equity and inclusion – has a long history, it has picked up steam recently. In 2023, when Silicon Valley Bank collapsed, detractors claimed that the bank’s focus on DEI was responsible – rather than the bank overinvesting in bonds that […]
Why Jersey girls − and guys − still don’t pump their own gas
New Jersey’s quirky reputation is hard earned, but one peculiarity stands out: It’s the only place in America where you can’t pump your own gas. Laws against self-service gasoline used to be common: In the late 1960s, nearly half the states in the U.S. had one. But as fuel dispensers became safer and credit cards […]
How safe are your solar eclipse glasses? Cheap fakes from online marketplaces pose a threat, supply-chain experts say
Americans from Maine to Texas are set for a rare treat on April 8, 2024, when a total solar eclipse will be visible across much of the U.S. In ancient times, eclipse-viewers thought they were watching the Sun be eaten by wolves, a dragon or a demon. Of course, we now know that the Sun […]
Why do airlines charge so much for checked bags? This obscure rule helps explain why
Five out of the six biggest U.S. airlines have raised their checked bag fees since January 2024. Take American Airlines. In 2023, it cost US$30 to check a standard bag in with the airline; today, as of March 2024, it costs $40 at a U.S. airport – a whopping 33% increase. As a business school […]
How Florida’s home insurance market became so dysfunctional, so fast
Imagine saving for years to buy your dream house, only to have surging property insurance costs keep homeownership forever out of reach. This is a common problem in Florida, where average insurance premiums cost homeowners an eye-watering US$6,000 a year. That’s more than triple the national average and about three times what Floridians paid on […]