Next Draft - Lobster in the Red
Look, there's no way to sugarcoat this. There's no way to bread and deep-fry it either. You ate too much shrimp. Like, a lot too much. In a much-anticipated move, Red Lobster has filed for bankruptcy. And yes, you played a (lobster) role in its troubles. Last summer, Red Lobster turned its limited-time offer of endless shrimp into a permanent menu item, a move that cost the company $11 million. That's a lot of bread(ing). But wait. As is usually the case with big brand bankruptcies, there's more to the story. It has to do with strong competition, management churn (Red Lobster has had five CEOs since 2021), and ownership directives. In this case, the trouble started when a company called Thai Union became Red Lobster's largest shareholder. Thai Union also happens to be in the shrimp selling business. "Under a CEO appointed at the direction of Thai Union, Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal to provide shrimp for the chain." Less than a decade after a mention in a Beyoncé song sent Red Lobster sales to the moon, new ownership drove them back to the bottom of the sea. How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy. 2Minnesota Mining and (Truth) Manufacturing"Decades ago, Kris Hansen showed 3M that its PFAS chemicals were in people’s bodies. Her bosses halted her work. As the EPA now forces the removal of the chemicals from drinking water, she wrestles with the secrets that 3M kept from her and the world." An investigative piece from The New Yorker and ProPublica that pieces together how big corporations can bury inconvenient truths. Toxic Gaslighting: How 3M Executives Convinced a Scientist the Forever Chemicals She Found in Human Blood Were Safe. 3STFU About OpenAI"Building smarter-than-human machines is an inherently dangerous endeavor ... But over the past years, safety culture and processes have taken a backseat to shiny products." OpenAI created a team to control ‘superintelligent’ AI — then let it wither. (Now more than ever, self-regulation is no way to regulate big tech.) 4Hail Wary"In 2023, a year that set all sorts of weather records, not only were there 19 storms in the US that topped $1 billion in damage, there was an uptick in storms globally. Damages topped $64 billion, according to Swiss Re, the international reinsurance giant. And that’s insured damages only — not all damage is insured. High winds and heavy rains both play their parts in severe storm damage." But the most damaging impact from major storms was something else. Giant blocks of ice falling from the sky. Bloomberg (Gift Article): Giant Hail Is the Weather Threat Keeping Insurers Up at Night. 5Extra, ExtraIranian Helicopter Crash: "Iranian President Ebrahim Raisi and the country’s foreign minister were found dead Monday hours after their helicopter crashed in fog, leaving the Islamic Republic without two key leaders as extraordinary tensions grip the wider Middle East." Arash Azizi in The Atlantic (Gift Article) on Who Would Benefit From Ebrahim Raisi’s Death? "For Khamenei, what mattered was that Raisi could be counted on to toe the regime’s line. Although competition is tight, Raisi may have more blood on his hands than any other living official of the Islamic Republic." And from Time: Why Some Iranians Refuse to Mourn President Ebrahim Raisi. (The nickname the butcher of Tehran provides some clues.) 6Bottom of the News"Joining the ranks of the screen goddess Brigitte Bardot and the Eiffel Tower, another French treasure is being celebrated with its own postage stamp: the baguette. And this one is scratch-and-sniff." NYT (Gift Article): France Issues Scratch-and-Sniff Baguette Postage Stamps. (I wonder if these would set off my glucose monitor alarm?) |
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