Activist Investors Call on Apple to Address Youth Phone Addiction
Apple under fire after two Apple investors urged the company to step up and play a bigger role in managing smartphone overuse and addiction. David Benoit, Activism Reporter at The Wall Street Journal, was with us to discuss why Jana Partners has decided to push Apple to develop tools and research the effects of smartphone overuse by young people.
Benoit says the investors aren’t saying its necessarily Apple’s responsibility to monitor phone usage. Instead, he thinks they believe that Apple could play an important role in acknowledging that they aren’t sure what the impact of all this phone usage will be, but could score points by giving parents the option to monitor usage.
Activist investors typically focus on things like buybacks and acquisitions. Benoit says this move by Jana Partners to take a stance on corporate responsibility is very different. He thinks following Jana's advice could help protect Apple from potential backlash on teen iPhone usage. In addition, Benoit says goodwill could help drive future sales if consumers feel Apple made a phone that is safe for kids.
Elon Musk is set to join Twitter's board of directors. This comes shortly after the Tesla CEO purchased a 9.2% stake in Twitter, sending shares surging as much as 27% and making him the largest shareholder in the social media company. Angelo Zino, Senior Industry Analyst at CFRA Research, joined Cheddar's Opening Bell to gives his take on the social media saga.
President Biden has announced a historic release of oil from the U.S. reserves in an attempt to cut down surging gas prices across the country. The administration will release 1 million barrels of oil per day for the next six months, marking the largest withdrawal in the nearly 50-year history of the country's emergency supply of oil. Patrick DeHaan, Head of Petroleum Analysis at GasBuddy, breaks down why the Biden administration is making this unprecedented move, and what impact it could have on prices at the pump.
Rhea Thomas, Senior Economist at Wilmington Trust, breaks down the highlights from the latest jobs report and discusses how inflation could impact economic growth.
American gas stations are massive and only getting bigger. That's because most chains like Wawa, Sheetz, and Buc-ee's sell way more than just gas. So when and why did gas stations change from single-pump service garages to supersized, all-in-one travel hubs?
Greg Hoffman, the former Nike Chief Marketing Officer and the founder of the brand advisory group Modern Arena, joined Cheddar News to talk about his new book "Emotion By Design: Creative Leadership Lessons From a Life at Nike." The book talks about his high-profile career at the sportswear giant and lessons in branding that came from his time there. "A brand's personality is like a mosaic," he said. "There are so many unique characteristics and traits that you need to express to the world, and to come across as a human brand today, you need to make sure that you're relatable."
