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.
February 20 marks what would have been Kurt Cobain’s 55th birthday, and NFT gateway Pop Legendz will be offering up a collection of rare images from a 1991 Nirvana show in Philadelphia that took places days before their monster hit album "Nevermind" was to be released. Faith West, the founder of Pop Legendz, music journalist, and the photographer who captured it on film joined Cheddar News to talk about the historic event and the NFT sales where half the proceeds will go to charities like the Trevor Project and GRID Alternatives. “I showed up at a small club, 150 people, not quite know what to expect, brought my camera, and halfway through the show I knew music history was being made," West said of the iconic evening.
Lowe’s Cos., the nation’s second-largest home improvement chain, offered an upbeat annual outlook after reporting strong fiscal fourth-quarter results that showed a still sizzling housing market.
Arkansas corporations, private investors and the government are coming together in the hopes to make the state a global leader in the future of transportation. Governor Asa Hutchinson joined Cheddar News to relay the council's plans. "I created the Council on Future Mobility to look at expanding drone delivery, to be able to utilize autonomous or driverless vehicles in delivery, and then also to be able to look at the future and whether you can have driverless or flying cars that can be imagined," he said. Hutchinson also stated that the council will take the safety measures needed before bringing along potentially unsafe tech.
Ford is reportedly considering separating its Electric Vehicle business from its other operations, in hopes of it becoming even more valuable as the company shifts toward electric vehicles. Dan Ives, Managing Director of Equity Research, Wedbush Securities joined Cheddar's 'Opening Bell' to discuss where the company stands in the race toward electrification.
Hertz is teaming up with UFODRIVE, a self service electric vehicle rental company, as part of its commitment to lead the future of mobility. Based in Europe, UFODRIVE is the first all-digital all-electric car rental service controlled from an app. Jayesh Patel, senior VP of corporate strategy at Hertz, joined Cheddar's Opening Bell to discuss the partnership and how it will propel the transition to electric vehicles.
President Biden unveiled new economic sanctions on Russia for what he called "the beginning of a Russian invasion". This came one day after Putin sent troops into two breakaway regions of eastern Ukraine. Alex Ward, national security reporter for POLITICO, explains what these sanctions might do to the global economy.
More than two years into the pandemic, Americans are ready to go out and splurge. With Covid cases falling and restrictions rolling back, many companies are seeing a surge in demand for everything from hotels to restaurants to sports games. Lindsey Roeschke, travel & hospitality analyst at Morning Consult, joined Cheddar's Opening Bell to discuss trends going on in the industries right now.
