How Duracell is Helping Relief Effort in Puerto Rico
Duracell's "PowerForward" initiative is working to help relief efforts in Puerto Rico after it was devastated by Hurricane Maria. Alfonso Arteaga, Senior Brand Manager at the company, explains how Duracell is providing internet access to those in need. Arteaga was living in Puerto Rico with his family when the hurricane hit the island in September.
Many areas in Puerto Rico remain without power three months after Hurricane Maria devastated the island. The U.S. Army Corps of Engineers said it could take until May to complete restoration of Puerto Rico's power grid. In less than one month after the hurricane hit the island, Duracell airlifted two trucks with 100 tons of battery for those in need.
Since this initiative began, Duracell has distributed more than $1 million worth of batteries, making this the program's largest deployment since PowerForward began in 2011. "It makes us realize we are not forgotten," said Arteaga who has since relocated from Puerto Rico to Connecticut.
David Stryzewski, CEO of Sound Planning Group, joins Cheddar News' Closing Bell, where he says that some of the major stock positions are getting the most lift to the upside as the major indexes climb higher to begin the week.
Despite challenges like inflation, labor and product shortages, and the Omicron variant, holiday sales saw record levels of growth this year, according to a new report from Mastercard SpendingPulse. The group reports on national retail sales across all payment types, finding that holiday sales rose at the fastest pace in 17 years this year. Mastercard senior advisor and former chariman and CEO of Saks Incorporated Steve Sadove joined Cheddar News' Closing Bell to discuss.
Keith Fitz-Gerald, chief investment officer at Fitz-Gerald Group, spoke to Cheddar about the growing competition for Tesla's electric cars in China as tech giant Huawei enters the race. "There's a lot of legacy worry, but that does not discount the possibility that Elon might have a contender on his hands," he said about the sometimes troubled telecom company. Fitz-Gerald also gave a nod to two other local rivals, Nio and XPeng, noting the latter as having something of an edge with its CEO He Xiopeng being lauded by Chinese state media.
Ariel Kaye, founder and CEO of home goods business Parachute, joined Cheddar to discuss the company's sales success over the holidays as it navigated supply chain issues. She also expects a strong showing in 2022 with the continuation of 2021 trends. "The hybrid work model is going to be here for a long time," Kaye said. The business, which currently has 12 physical locations, plans to expand to 30 brick-and-mortar shops by the end of 2022.
