*By Michael Teich*
Uber has spent millions of dollars on an ad campaign in which its chief executive, Dara Khosrowshahi, tries to win back customers' trust after the ride-hailing company was beset by scandals and a slumping reputation.
The ad was a departure for Uber, but a necessary one because "we're in an environment where people want to hate," said the Wall Street Journal reporter Suzanne Vranica.
Uber, Wells Fargo and Facebook, which all endured a backlash from customers related to corporate missteps, have spent more than $60 million recently to protect their public image, according to research from iSpot.
"You can’t discount trust," said Vranica in an interview Thursday with Cheddar. And though users may still be logging on to Facebook, their behavior could change as they lose faith in the platform.
"Long term, it will impede ability to attract advertising dollars," she said. "It takes a long time to evaluate to see if it's a problem. That's why they need to spend so much money."
The social media company's stock plummeted after it was reported that it failed to protect the private data of 87 million users exposed in the Cambridge Analytica data scandal. Facebook shares climbed back near all-time highs as investors' concerns appeared to wane after the company reported user growth in its last quarterly earnings that appeared to be unaffected by the scandal.
Vranica still warned, these are "long-term problems that could eat away at your brand" and "overall brand health really matters."
For the full interview, [click here](https://cheddar.com/videos/the-cost-of-regaining-customer-trust).
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
