- The Retail Apocalypse Is Fueled by No-Name Clothes (Bloomberg) "Searching for generic product categories on Amazon turns up plenty of private-label options. Simultaneously, Amazon has introduced a bevy of private labels with names such as Peak Velocity in categories that include shirts and sportswear, where fit and function—plus the convenience of free shipping—are often more important than the latest fashions. That helps explain why almost 40 cents of every dollar spent online on clothing and footwear in the U.S. will go to Amazon this year..."
- The Future Of Retail In The Age Of Amazon (FastCompany) "Amazon dominates e-commerce and has gobbled up 5% of total U.S. retail sales. Some expect that the company will own half the online market within the next five years, a period during which, Credit Suisse predicts, a quarter of all malls will close. By the end of this year, more than 8,600 stores will have shuttered in 2017, the worst year on record."
- 5 ways the future of retail is already here (WaPo) "1. Prices that change by the hour. 2. Digital mirrors to help you visualize new outfits, lipstick or sunglasses. 3. Robotic shopping carts … or no carts at all. 4. Technology to help you find better-fitting shoes and coordinating outfits. 5. Robots that restock shelves and guide you to what you need."
- Meet the Retail Worker of the Future: Cool, Charismatic, and Better Paid (Time) "For physical retailers, it’s not enough to have things anymore, experts say. Now you need an experience—a convenience, activity, or ambiance—to rope people in."
BUSINESS:
- New Hedge-Fund Tax Dodge Triggers Wild Rush Back Into Delaware (Bloomberg) "Since late 2017, hedge fund managers have created numerous shell companies in the First State... Tax attorneys say hedge funds are setting up thousands of LLCs, most of which are difficult to identify. President Donald Trump turned carried interest into a rallying cry during his populist presidential campaign, declaring that 'hedge fund guys are getting away with murder.' Critics from billionaire Warren Buffett on down essentially agree, saying carried interest is a fee-for-service and should be taxed at the individual rate that today tops out at 37 percent. But money managers are eligible to pay a rate of about 20 percent, having successfully argued for years that carried interest, or their portion of investment returns, is a capital gain."
- The ‘Goldilocks Market’ Is Over: Lessons From the Stock Selloff (Bloomberg) "Investors Were Complacent. This Time Is Never Different. It’s Not a Rout, 1987 Was a Rout. Factor in Leverage."
LIFE:
- On Campus: You Up? College in the Age of Tinder (NYT) "It may not be on any syllabus, but college has always been a time for young people to learn about relationships and sex. But as the internet increasingly influences the ways we interact, it also transforms how students date and find partners. We asked students at nine colleges and universities how technology affects the campus dating scene."
NEWS:
- White House reels as FBI director contradicts official claims about alleged abuser (WaPo) "FBI Director Christopher A. Wray told the Senate Intelligence Committee that the bureau had completed a background report on then-staff secretary Rob Porter last July and closed out the case entirely last month. Wray’s account is at odds with White House claims that the investigation required for Porter’s security clearance was 'ongoing' until he left his job last week, after his two ex-wives publicly alleged physical and emotional abuse."
- Why the Knives Are Out for John Kelly (National Review) "I think the most interesting thing about all of this is not that there are long knives out to get Kelly, but who is wielding them. Corey Lewandowski, that renowned pillar of decency and decorum to the fairer sex, is pissing from a great height on Kelly. So is Anthony Scaramucci, another poster boy for political rectitude. There are reports that Ivanka Trump is a leader of the Get-Kelly Brigade as well, which would suggest that Jared is in on the act too."
- Bob Corker might un-retire — which could mean chaos for Tennessee’s Senate race (Vox) "Corker is reportedly 'listening' to some Republican colleagues encouraging him to run for reelection...amid concern that the party’s leading candidate, Republican Rep. Marsha Blackburn, could lose the Tennessee Senate seat to a Democrat in the 2018 midterms."
- Gowdy: Oversight panel launched Porter investigation 'last night' (Politico) "Gowdy was asked on CNN’s 'New Day' if his committee would launch an investigation into Porter’s employment at the White House and at what point the administration was made aware of the allegations against him. 'We did last night,' he responded."
- Veterans Affairs chief Shulkin, staff misled ethics officials about European trip, report finds (WaPo) "Veterans Affairs Secretary David J. Shulkin’s chief of staff doctored an email and made false statements to create a pretext for taxpayers to cover expenses for the secretary’s wife on a 10-day trip to Europe last summer... 'Although the [inspector general’s office] cannot determine the value VA gained from the Secretary and his delegation’s three and a half days of meetings in Copenhagen and London at a cost of at least $122,334, the investigation revealed serious derelictions by VA personnel'..."
- A Whirlwind Envelops the White House, and the Revolving Door Spins (NYT) "More than a year into his administration, President Trump is presiding over a staff in turmoil, one with a 34 percent turnover rate, higher than any White House in decades. He has struggled to fill openings, unwilling to hire Republicans he considers disloyal and unable to entice Republicans who consider him unstable. Those who do come to work for him often do not last long, burning out from a volatile, sometimes cutthroat environment exacerbated by tweets and subpoenas. Some administration officials privately spend much of their time trying to figure out how to leave without looking disloyal or provoking an easily angered president. Those who leave tell friends and associates horror stories that do not help with recruitment."
SCIENCE:
- A potentially powerful new antibiotic is discovered in dirt (WaPo) "Superbugs have evolved resistance to dozens of drugs in doctors' arsenals, leading to infections that are increasingly difficult to treat. Global deaths from antibiotic-resistant infections are predicted to hit 10 million a year by 2050. So in labs around the world, scientists are racing against time to cultivate new microbe-destroying molecules — but most of the low-hanging fruit has already been picked. ...microbiologist Sean Brady thinks it's time to shift tactics. Instead of growing antibiotics in a petri dish, he hopes to find them in the ground. That idea is beginning to pay off: ...he and his colleagues report the discovery of a new class of antibiotic extracted from unknown microorganisms living in the soil. This class, which they call malacidins, kills several superbugs — including the dreaded methicillin-resistant Staphylococcus aureus (MRSA) — without engendering resistance."
TECHNOLOGY:
- Facebook Funded Most of the Experts Who Vetted Messenger Kids (Wired) "Equally notable are the experts Facebook did not consult. Although Facebook says it spent 18 months developing the app, Common Sense Media and Campaign for a Commercial Free Childhood, two large nonprofits in the field, say they weren’t informed about it until weeks or days before the app’s debut."
- Here are all the reasons you might need to use a VPN (Mashable) "Right now there's definite cause for concern. Last March, the Senate voted to permit internet providers to sell customers' browsing history without their knowledge or approval. Then in November, the FCC scrapped Obama-era net neutrality regulations, giving ISPs even broader control over the data traveling over their networks."
TRUMPTEL:
- Trump’s Longtime Lawyer Says He Paid Stormy Daniels Out of His Own Pocket (NYT) "In the most detailed explanation of the 2016 payment made to the actress, Stephanie Clifford, Mr. Cohen, who worked as a counsel to the Trump Organization for more than a decade, said he was not reimbursed for the payment."
BOTTOM OF THE NEWS:
- How the US Military Helped Invent Cheetos (Wired) "The army placed its first order for processed cheese–which at the beginning, came in only one flavor: white—during World War I, buying twenty‑five million quarter‑pound tins from Kraft. This single act probably established Kraft’s century‑long (and still going strong) food industry hegemony. By the time World War II rolled around, the military was a raving cheeseaholic, consuming the dairy product by itself, on sandwiches, or as sauces for vegetables, potatoes, and pasta."
TODAY'S SONG:
- My Funny Valentine (Frank Sinatra)
- The Future Of Retail In The Age Of Amazon (FastCompany) "Amazon dominates e-commerce and has gobbled up 5% of total U.S. retail sales. Some expect that the company will own half the online market within the next five years, a period during which, Credit Suisse predicts, a quarter of all malls will close. By the end of this year, more than 8,600 stores will have shuttered in 2017, the worst year on record."
- 5 ways the future of retail is already here (WaPo) "1. Prices that change by the hour. 2. Digital mirrors to help you visualize new outfits, lipstick or sunglasses. 3. Robotic shopping carts … or no carts at all. 4. Technology to help you find better-fitting shoes and coordinating outfits. 5. Robots that restock shelves and guide you to what you need."
- Meet the Retail Worker of the Future: Cool, Charismatic, and Better Paid (Time) "For physical retailers, it’s not enough to have things anymore, experts say. Now you need an experience—a convenience, activity, or ambiance—to rope people in."
BUSINESS:
- New Hedge-Fund Tax Dodge Triggers Wild Rush Back Into Delaware (Bloomberg) "Since late 2017, hedge fund managers have created numerous shell companies in the First State... Tax attorneys say hedge funds are setting up thousands of LLCs, most of which are difficult to identify. President Donald Trump turned carried interest into a rallying cry during his populist presidential campaign, declaring that 'hedge fund guys are getting away with murder.' Critics from billionaire Warren Buffett on down essentially agree, saying carried interest is a fee-for-service and should be taxed at the individual rate that today tops out at 37 percent. But money managers are eligible to pay a rate of about 20 percent, having successfully argued for years that carried interest, or their portion of investment returns, is a capital gain."
- The ‘Goldilocks Market’ Is Over: Lessons From the Stock Selloff (Bloomberg) "Investors Were Complacent. This Time Is Never Different. It’s Not a Rout, 1987 Was a Rout. Factor in Leverage."
LIFE:
- On Campus: You Up? College in the Age of Tinder (NYT) "It may not be on any syllabus, but college has always been a time for young people to learn about relationships and sex. But as the internet increasingly influences the ways we interact, it also transforms how students date and find partners. We asked students at nine colleges and universities how technology affects the campus dating scene."
NEWS:
- White House reels as FBI director contradicts official claims about alleged abuser (WaPo) "FBI Director Christopher A. Wray told the Senate Intelligence Committee that the bureau had completed a background report on then-staff secretary Rob Porter last July and closed out the case entirely last month. Wray’s account is at odds with White House claims that the investigation required for Porter’s security clearance was 'ongoing' until he left his job last week, after his two ex-wives publicly alleged physical and emotional abuse."
- Why the Knives Are Out for John Kelly (National Review) "I think the most interesting thing about all of this is not that there are long knives out to get Kelly, but who is wielding them. Corey Lewandowski, that renowned pillar of decency and decorum to the fairer sex, is pissing from a great height on Kelly. So is Anthony Scaramucci, another poster boy for political rectitude. There are reports that Ivanka Trump is a leader of the Get-Kelly Brigade as well, which would suggest that Jared is in on the act too."
- Bob Corker might un-retire — which could mean chaos for Tennessee’s Senate race (Vox) "Corker is reportedly 'listening' to some Republican colleagues encouraging him to run for reelection...amid concern that the party’s leading candidate, Republican Rep. Marsha Blackburn, could lose the Tennessee Senate seat to a Democrat in the 2018 midterms."
- Gowdy: Oversight panel launched Porter investigation 'last night' (Politico) "Gowdy was asked on CNN’s 'New Day' if his committee would launch an investigation into Porter’s employment at the White House and at what point the administration was made aware of the allegations against him. 'We did last night,' he responded."
- Veterans Affairs chief Shulkin, staff misled ethics officials about European trip, report finds (WaPo) "Veterans Affairs Secretary David J. Shulkin’s chief of staff doctored an email and made false statements to create a pretext for taxpayers to cover expenses for the secretary’s wife on a 10-day trip to Europe last summer... 'Although the [inspector general’s office] cannot determine the value VA gained from the Secretary and his delegation’s three and a half days of meetings in Copenhagen and London at a cost of at least $122,334, the investigation revealed serious derelictions by VA personnel'..."
- A Whirlwind Envelops the White House, and the Revolving Door Spins (NYT) "More than a year into his administration, President Trump is presiding over a staff in turmoil, one with a 34 percent turnover rate, higher than any White House in decades. He has struggled to fill openings, unwilling to hire Republicans he considers disloyal and unable to entice Republicans who consider him unstable. Those who do come to work for him often do not last long, burning out from a volatile, sometimes cutthroat environment exacerbated by tweets and subpoenas. Some administration officials privately spend much of their time trying to figure out how to leave without looking disloyal or provoking an easily angered president. Those who leave tell friends and associates horror stories that do not help with recruitment."
SCIENCE:
- A potentially powerful new antibiotic is discovered in dirt (WaPo) "Superbugs have evolved resistance to dozens of drugs in doctors' arsenals, leading to infections that are increasingly difficult to treat. Global deaths from antibiotic-resistant infections are predicted to hit 10 million a year by 2050. So in labs around the world, scientists are racing against time to cultivate new microbe-destroying molecules — but most of the low-hanging fruit has already been picked. ...microbiologist Sean Brady thinks it's time to shift tactics. Instead of growing antibiotics in a petri dish, he hopes to find them in the ground. That idea is beginning to pay off: ...he and his colleagues report the discovery of a new class of antibiotic extracted from unknown microorganisms living in the soil. This class, which they call malacidins, kills several superbugs — including the dreaded methicillin-resistant Staphylococcus aureus (MRSA) — without engendering resistance."
TECHNOLOGY:
- Facebook Funded Most of the Experts Who Vetted Messenger Kids (Wired) "Equally notable are the experts Facebook did not consult. Although Facebook says it spent 18 months developing the app, Common Sense Media and Campaign for a Commercial Free Childhood, two large nonprofits in the field, say they weren’t informed about it until weeks or days before the app’s debut."
- Here are all the reasons you might need to use a VPN (Mashable) "Right now there's definite cause for concern. Last March, the Senate voted to permit internet providers to sell customers' browsing history without their knowledge or approval. Then in November, the FCC scrapped Obama-era net neutrality regulations, giving ISPs even broader control over the data traveling over their networks."
TRUMPTEL:
- Trump’s Longtime Lawyer Says He Paid Stormy Daniels Out of His Own Pocket (NYT) "In the most detailed explanation of the 2016 payment made to the actress, Stephanie Clifford, Mr. Cohen, who worked as a counsel to the Trump Organization for more than a decade, said he was not reimbursed for the payment."
BOTTOM OF THE NEWS:
- How the US Military Helped Invent Cheetos (Wired) "The army placed its first order for processed cheese–which at the beginning, came in only one flavor: white—during World War I, buying twenty‑five million quarter‑pound tins from Kraft. This single act probably established Kraft’s century‑long (and still going strong) food industry hegemony. By the time World War II rolled around, the military was a raving cheeseaholic, consuming the dairy product by itself, on sandwiches, or as sauces for vegetables, potatoes, and pasta."
TODAY'S SONG:
- My Funny Valentine (Frank Sinatra)
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