The Daily Dive

For quite a while now, employees have been able to call the shots as the labor market remained tight.  They could job hop and get higher wages too.  Well now, the balance of power is shifting back to the employer and workers with high hopes for raises in the coming year may be disappointed.  Companies are adjusting budgets for salaries, and it doesn’t look like it is keeping up with inflation or expectations.  Matt Boyle, senior re...

The clothing industry is the last trillion-dollar sector that hasn’t been fully automated.  Many apparel makers have also been hesitant to talk about automation because of the ramifications and possible loss of jobs.  Still, there is a quiet effort underway to develop machines that can automate some parts of jeans factories and hopefully bring more manufacturing back from overseas.  Tim Aeppel, reporter at Reuters, joins us for how...

Sam Bankman-Fried, the disgraced founder and former CEO of crypto company FTX, has been arrested in the Bahamas and charged by federal officials with eight counts of fraud, conspiracy, campaign finance law violations and money laundering.  He is being accused of funneling customer money into his hedge fund to make investments and loans to himself.  About $8 billion in client funds have gone missing with only $1 billion being recove...

The labor market remains tight, and employers still need workers to fill their ranks.  In order to speed up the process, some companies are dropping a once crucial step: the interview.  Places like UPS, Home Depot, and The Gap are dropping it for mostly hourly positions and in places with high turnover and warehousing.  Some are offering jobs 25 minutes after applying and others are making offers 24-48 hours after applying.  After ...

Shakeup for the Democrats in the Senate.  After clinching a 51-49 majority with Raphael Warnock’s win in Georgia, Sen. Krysten Sinema announced she would be leaving the Democratic party and register as an Independent.  While the impact may be minimal when trying to pass legislation, it means a lot when we look ahead to 2024 and how the two parties will fight to win that seat.  Julia Manchester, national political reporter at The Hi...

The Biden administration stuck a deal with Russia to free WNBA star Brittney Griner.  In exchange for her freedom, the U.S. released arms dealer Vitkor Bout, who is known as the “Merchant of Death.”  This caps a 10 month ordeal for Griner after she was arrested for possession hash oil cartridges in Russia.  Alex Ward, national security reporter at Politico, joins us for what to know about her release and what happens to Paul Whelan...

There’s a new food category coming to your grocery stores… “thaw and eat” foods.  The makers of Uncrustables and Hot Pockets are both offering products that can be ready to eat in a couple of hours with no microwave required.  Think turkey and cheese or ham and cheese sandwiches.  These are being targeted to adults who want grabbable, no-mess bites.  Jennifer Kingson, chief correspondent at Axios joins us for what to know as food c...

One of the biggest components of inflation is starting to ease.  Housing costs are coming down, but it could take some time before it shows up in official inflation numbers.  Economists say that increases in rents and home prices will remain low as the economy has slowed and mortgage rates remain elevated.  Shelter inflation is one of those things that tend to be sticky, which means that once it starts moving in any direction it is...

The hot weight-loss drug Wegovy is in short supply and high demand.  The drug has proven to help people lose as much as 15% of their weight by suppressing appetite, but the company expected a more gradual adoption of the drug and has lost out on a ton of potential cash.  Selling only $700 million to date, analysts had projected $2 billion in sales for 2021 and 2022.  Peter Loftus, pharma reporter at the WSJ, joins us for why you ca...

It’s the FBI’s biggest investigation ever.  Looking into who was in Washington on Jan.6 and who stormed the Capitol.  It has also included the biggest ever request of phone data from geofence warrants.  Google has provided data from over 5,000 devices as the FBI has tried to narrow their search to pinpoint suspects.  Google also has a three-step process for these types of warrants to help protect as much privacy as possible and onl...