Johnson's Baby Powder 🍼
This Week in Review☕: Chipotle wins the Battle of the Burrito Bowls | Champagne outperforms Gold and the S&P | The Healthiest Salad Chain | Tesla slashes prices to attract more buyers |American Horror
This Week’s Partner💡: The GIST
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Quick Bites:
Food🌯: Chipotle wins the Battle of the Bowls.
Chipotle sued Sweetgreen, alleging the salad chain's latest menu item- 'The Chicken Burrito Bowl', infringes on its trademark and is confusing to customers.
Hmm.. sounds a lot like Chipotle's claiming they're the only company in the world who can make a spicy burrito bowl. What’s next, Apple Pie suits ?!🙈
In response, Sweetgreen said it will rename the menu item at the center of the dispute to focus on its business without the distraction.
Sweetgreen's stock has fallen 14% in 2023, giving it a market value of $821 million. Meanwhile, Chipotle's stock is 21% up this year with its $46.7bn market value, CNBC reports.
Background💡: Sweetgreen is an American fast-food salad chain that raised money at a $1.6bn valuation before adding another few billion when it went public in 2021.
However, since then, the company has lost over 60% of its value and fired a ton of staff.
To put that into perspective, if we sat down with a $1000 at a $100 blackjack table, and lost 10 straight hands, we'd still be doing better than having invested that 1k into Sweetgreen... AND we would've gotten a free Piña Colada from the casino🍹
Our Thoughts💡: Chipotle doesn't play about with food y'all!
Our iPhone notifications be like:
💡Landlord: Your rent is 3 months overdue
💡Office: You have an hour-long Zoom meeting in 15 mins
💡CNN: Earthquake kills 100 and uproots families
💡Chipotle: GUAC ROCKS!
Healthcare💊: Johnson & Johnson to pay $8.9bn billion to settle allegations that its talc products cause cancer.
The company has ended sales of its iconic baby powder globally due to customers claiming its contamination with the carcinogen asbestos.
The proposed settle would be paid out over the course of 25 years.
Umm yeah because we all know cancer victims live for 25 years 🙄
The brand "Johnson & Johnson" has been synonymous with "baby's silk soft skin", "best for baby", "every mother should have it" for decades.
The American healthcare company has enjoyed the trust of parents globally for as long as we can remember.
Let’s be honest- How many times did your mom told you as a young kid: "Why don't you slap on some powder? You'll look more fresh!"
Our Thoughts💡: These crooks exposed people to cancer for decades all while accumulating an asset base of over $200bn! Let's not forget that J&J agreed to pay $5bn in January 2022 for their role in the opioid epidemic!!
This is a multinational profiting off us while getting a mere slap on the wrist. $9bn is an effing JOKE. We mean they raked in $94bn in gross sales in 2022 alone. They won't even KNOW that settlement money is gone.
CRIMINALS🖕🏻
Electric Vehicles🚘: Tesla slashes prices of all of its EVs for the 5th time this year as it tries to attract new buyers, Reuters reports.
Umm.. the goal of a biz is to make money and generate profit. Not give away cars at zero margin because you refuse to advertise 👋🏻
The biggest price cuts went to its most expensive but slowest-selling models, the S sedan and the X SUV, which were reduced by $5,000.
It's bestselling Y crossover SUV was cut by $2,000 and the 3-compact sedan was reduced by $1,000.
We just ordered a Model Y Long-Range last month for $55k and now its $53k. Should we:
1. Call Tesla HQ to ask for a price cut
2. Cancel the order to lose $250 and reorder to save $1750
3. Beg Elon for MERCY 😫
Despite Tesla trying to boost demand amid heightened competition, some analysts have expressed concerns that the price cuts will eat into Tesla's healthy profit margin.
On another note, insiders speculate Tesla is considering to add Food & Drink service options to its charging stations after the company filed a trademark in "restaurant services".
A drive-through cheeseburger could be a retro-style solution to charge Tesla EVs and boost demand tbh?
PS. If it isn't vegan, the Bay Area crowd is gonna ROAST Elon
Drink🥂: Champagne outperforms gold and the S&P 500.
From January to September 2022, a case of all-Chardonnay 2012 Salon Le Mesnil rose by 232%, from £3,800 to £12,600, according to Liv-Ex, the London International Vintners Exchange.
Ugh we need luxury taxes for the uber-rich this burning cash biz is obnoxious🤬
"Champagne remains an icon of luxury in a world where there’s been an explosion of wealth"
The Liv-Ex Champagne 50 Index, which tracks the price performance for recent vintages of a dozen top brands outperformed gold, the FTSE, and the S&P 500, as well as the Bordeaux First Growths and even Burgundy, Bloomberg reports.
Based on recommendations from Cult Wines, Charles Curtis and Vinovest, Here are the top 8 blue-chip Champagnes to consider buying:
💡2008 Dom Perignon ($560): There’s always demand for a top vintage of the world’s most famous luxury fizz brand in the world
💡2006 Krug Vintage Brut ($600): Over the past five years the price of 2006 has climbed 57%
💡2012 Louis Roederer Cristal ($520): Cristal usually appreciates quickly, which is why demand is consistently high. This price of this vintage increased a whopping 80% from April 2021 to February 2023
💡2008 Vintage Rare Brut Millesime ($260): This well-priced, less well-known fizz has extreme rarity on its side
💡2017 Cedric Bouchard Roses de Jeanne Les Ursules Blanc de Noirs ($480): This classic cuvee has a following. The brand was one of the top 10 performers for Cult Wines last year
Quicker Bites:
4 killed and many injured during an avalanche that struck the French Alps.
The Dalai Lama apologizes after a video asking a child to 'suck' his tongue sparks outcry.
Kim Kardashian and Emma Roberts join 'American Horror Story' Season 12.
Bitcoin climbs past $30,000 for the first time since June 2022.
LVMH founder's fortune soars past $200bn for the first time.
Multiple casualties reported in shooting in Louiseville.
Ukraine cities pounded, Kyiv plays down fallout from leak of US documents.
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