Monday, February 2, 2015

Nationwide Killed A Hypothetical Kid To Make A Point (And A Commercial) And The Internet Had None Of It

Nationwide had everyone feeling good with its first Super Bowl commercial featuring Mindy Kaling, and then took it all away.

The second commercial got off to a good start, with a cute little kid talking about how he'd never get cooties or get married, and then there was the big reveal: He's dead.

And the entire Internet said, "Whaaaaatttt?!" Here are some of the best reactions:

Hey, what's the Super Bowl for if not being reminded of how fragile life truly is?


Sunday, February 1, 2015

Millions Of Cars Recalled For Faulty Airbags

NEW YORK (AP) — Drivers, bring your vehicles back to the shop for more work on faulty air bags.

The government says more than 2 million Toyota, Chrysler and Honda vehicles need a second fix for air bags that may inadvertently inflate while the car is running.

The recall includes some Acura MDX, Dodge Viper, Jeep Grand Cherokee, Honda Odyssey, Pontiac Vibe, Toyota Corolla and Toyota Avalon models made from 2002 to 2004.

The National Highway Traffic Safety Administration says all of the vehicles covered in Saturday's announcement had already been under a recall for the faulty air bags. Carmakers originally tried to fix the defects by partially replacing the electronic control unit, made by TRW Automotive Holdings Corp. of Livonia, Mich., but that fix didn't always work. The new remedy — full replacement of the unit — will be available to all affected vehicles by the end of the year.

However, the NHTSA is urging consumers with cars under the first recall to have the partial unit installed despite the fix's failure rate, even if they have to return to the dealer under the second recall.

"Even though it's a temporary solution until the new remedy is available," NHTSA Administrator Mark Rosekind said, consumers "and their families will be safer if they take the time to learn if their vehicle is covered and follow their manufacturers' instructions."

About 39 air bags, or 15 percent, that had been replaced under the previous recall have deployed inadvertently again.

The agency says about 1 million Toyota and Honda vehicles involved in the new recalls are also subject to a separate recall related to defective air bags made by Takata Corp. of Japan. Those air bags can deploy and rupture with enough force to cause injury or death.

In nine cases, cars had problems that included both the inadvertent deployment and the Takata rupture. Three of those cases resulted in injuries, including eye injuries, scratches and burns.

No death or injuries related to non-Takata air bag failures have been reported.

The announcement comes days after the family of Carlos Solis filed a lawsuit against Takata. Solis, 35, died on Jan. 18 in a minor crash in a Houston suburb. The lawsuit alleges that as an air bag in his 2002 Honda Accord inflated, it sent a piece of metal into his neck. Solis died at the scene. His death has not officially been linked to the air bag.

Takata is under fire for air bag inflators that can explode, shooting out metal and plastic pieces. At least five deaths and dozens of injuries have been linked to the problem worldwide. Ten automakers have recalled about 12 million vehicles in the U.S. and about 19 million globally for problems with the air bags. The company is still trying to determine the cause of the problem.

___

Online:

http://www-odi.nhtsa.dot.gov/owners/SearchYesterdayRecall


Wednesday, January 28, 2015

Bacon Prices Are Falling

Bringing home the bacon is getting a little easier.

Prices of pork products are falling as herds bounce back from a diarrhea-inducing virus epidemic that has killed millions of piglets over the last year, according to data from the U.S. Department of Agriculture.

Hog futures -- contracts that obligate the buyer to purchase pigs at a certain price in the next month -- peaked last March at $1.1167 a pound. Now, next month’s futures are priced at about 69 cents per pound, according to the trade group Chicago Mercantile Exchange.

“Pork prices are getting cheaper,” Terry Roggensack, who co-founded the commodities research firm the Hightower Report, told The Huffington Post on Tuesday. “It’s a positive.”

This chart, courtesy of Index Mundi, shows pork prices declining since October.

The number of deaths linked to the Porcine epidemic diarrhea virus, or PEDv, isn’t the only thing making things less expensive, Roggensack said.

The strength of the U.S. dollar and tumult in Russia sent exports tumbling to about 18 percent from a peak of 26 percent earlier last year, according to Roggensack's data. But the number of hogs being slaughtered rose to 2.316 million last week, a 4.6 percent gain from the same period last year. Unlike other commodities, such as gold, copper or crude oil, only a fraction of pork is frozen and stored for later use.

“For the most part, you’ve got to use it within a month or so of when it’s produced,” Roggensack said. “The domestic market needs to absorb an even bigger supply than it normally would.”

And how do you entice people to buy more of something? Make it cheaper.


Tuesday, January 27, 2015

How To Score A Free Burrito At Chipotle This January

While winter sinks deeper into a seemingly interminable cold and wet darkness, there is a light at the end of the month. On Monday, January 26, you can earn yourself a free burrito at Chipotle.

To do so, you'll have to buy an entree off the Sofritas menu on that Monday. Then, when you bring your receipt to a Chipotle between January 27th and February 28th, you'll be rewarded with a free burrito, bowl, salad, or taco order of your choosing (yes, you can go back to meat if you want).

Chipotle first introduced Sofritas -- its vegan, braised tofu option -- early in 2013. If you're tofu-averse, know that the filling reportedly tastes a lot like scrambled eggs. That doesn't sound so bad, does it?

If you really can't handle the idea of eating bean curd but want to score that free burrito, you could always pluck out the protein and toss it to your dog. This way, everyone wins.

H/T: FoodBeast

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Sunday, January 25, 2015

Workers Sue McDonald's For Discrimination, Opening New Front In Franchise Fight

A group of former McDonald's workers from Virginia are suing their stores for racial discrimination and sexual harassment -- and they're taking the rare step of naming the world's foremost fast-food company as a defendant in the suit.

The 10 plaintiffs -- nine of whom are African-American, and one of whom is Hispanic -- say they were wrongfully fired last year and replaced with mostly white workers because their managers believed there had been "too many black people [working] in the store." The lawsuit (viewable here) alleges that women were harassed and groped and that minorities were subjected to racist taunts. It also claims that managers referred to one restaurant as "the ghetto store."

Although it's usually just franchisees that are sued under discrimination claims, in this case the plaintiffs are arguing that McDonald's itself should be held responsible for the actions inside a franchised store. They say the fast-food giant should have to pay damages because it sets companywide policies and has the power to enforce them.

"In order to maximize its profit, McDonald's Corporate has control over nearly every aspect of its restaurants' operations," the lawsuit asserts. "Though nominally independent, franchised McDonald's restaurants are predominantly controlled by McDonald's."

The plaintiffs in the suit have received legal assistance from the NAACP and the group Fight for $15, which advocates on behalf of fast-food workers. According to the suit, the plaintiffs had a combined 50 years working at McDonald's restaurants, 25 of them accrued by a 53-year-old shift manager who lost her job in July. The rest of the workers lost their jobs in a mass termination in May.

As the South Boston (Virginia) News & Record reported at the time, a total of 17 workers were abruptly fired from three McDonald's restaurants in the area. All three locations were run by Michael Simon, owner of Soweva, the company that franchised the stores. At the time, workers told the paper they were informed they "didn't fit the profile" that the company was looking for in its restaurants.

"Most, though not all, of the terminated employees are African-American," the paper noted. "Most of the workers who remain on the job at the local McDonald’s also are black. So, too, is [Soweva owner] Simon."

In the lawsuit, the plaintiffs say that their white supervisors wanted to drop black workers from the payrolls because the stores were "too dark," in a phrase attributed to one manager.

"I had no idea what they meant by the right profile until I saw everyone else that they fired as well," Willie Betts, one of the plaintiffs, said in a statement Thursday. "They took away the only source of income I have to support my family."

Simon did not immediately respond to a request for comment. In a statement at the time of the firings, Simon denied that race was a factor, saying his company "has a strict policy of prohibiting any form of discrimination or harassment in hiring, termination or any other aspect of employment."

In the lawsuit, the workers allege that when they brought their concerns to McDonald's corporate, the company "took no actions to remedy" the firings. The workers are now seeking damages from the chain under Title VII of the Civil Rights Act, which prohibits employment discrimination on the basis of race, color, religion or sex.

"We asked McDonald’s corporate to help us get our jobs back, but the company told us to take our concerns to the franchisee -- the same franchisee that just fired us," Pamela Marable, another plaintiff, said in a statement this week.

“We have not seen the lawsuit, and cannot comment on its allegations, but will review the matter carefully," McDonald's said in a statement Thursday.

"McDonald’s has a long-standing history of embracing the diversity of employees, independent Franchisees, customers and suppliers, and discrimination is completely inconsistent with our values," the company's statement continued. "McDonald’s and our independent owner-operators share a commitment to the well-being and fair treatment of all people who work in McDonald’s restaurants.”

The lawsuit in Virginia is just the latest salvo in a broader fight against the franchise model. McDonald's franchises roughly 90 percent of its stores, leaving the day-to-day operations to individual franchisees like Soweva. Since the franchisees run the stores, they're the ones that tend to get sued when labor law is broken. That's a major upside of the franchise model for companies like McDonald's.

But unions and worker groups have been arguing in court and before agencies like the National Labor Relations Board that big chains such as McDonald's should be held accountable for the working conditions inside the stores that bear their names.

Until now, that generally hasn't been the case. But that could be changing on some fronts. The NLRB's general counsel, for instance, has named McDonald's as a "joint employer" alongside several of its franchisees accused of violating labor law during the fast-food strikes. If the agency were to view the workers as employed under one big umbrella -- rather than by hundreds or thousands of individual franchisees -- it would be much easier for the workers to unionize en masse. As it is, the fact that McDonald's workers are technically employed by different franchisees means they would have to be unionized store by individual store.

Several lawsuits currently seek to hold McDonald's responsible for wage theft allegedly committed by its franchisees. As with the discrimination complaint in Virginia, the plaintiffs in those suits argue that McDonald's ultimately exerts control over the operations inside individual stores, and that it should be held accountable when the law is broken.


Saturday, January 24, 2015

Your Chipotle Could Be Getting Carnitas Back Soon

Carnitas lovers rejoice! (Sort of.)

Finding carnitas during the ongoing Chipotle pork shortage may not be as hard as you originally thought. The Mexican chain is rotating the menu item through all of its restaurants, according to Chris Arnold, a Chipotle spokesman. Though one-third of its restaurants won't be selling carnitas until the shortage ends, that one-third will change periodically, so no restaurants are out of the protein for "extended periods," Arnold wrote in an email.

Chipotle suspended sales of carnitas last week after discovering that one of its pork suppliers wasn’t meeting its standards for responsibly raised meat. The news that the hottest fast food chain in the country was out of one of its few menu items made headlines, with carnitas fans taking to Facebook and Twitter to ask when the protein would be coming back.

A carnitas fan mourns the loss.

The announcement also reminded Chipotle fans why they’re drawn to the chain in the first place. The burrito chain’s popularity has skyrocketed in recent years, in part because it sells itself as a fast food restaurant with a conscience -- hawking humanely raised meat and sustainably grown beans. At the same time, traditional fast food chains like McDonald’s are struggling to draw diners into their stores.

Despite Chipotle’s success, the carnitas shortage, which is now in its second week, highlights the challenges of running a large chain committed to serving humanely raised meat when there isn’t a lot of it out there.

Carnitas only make up about 6 percent of the entrees chipotle sells, Arnold said. The spokesman had some advice for those die-hard carnitas fans who want to make sure their local Chipotle is carrying the pork:

“The best way to know for sure would be to go.”


Friday, January 23, 2015

This Guy Just Made $1 Billion Betting On Oil Prices

You know what's cool? An oil-price collapse that saves you a few dollars when you fill up the Escalade. You know what's cooler? An oil-price collapse that makes you ONE BILLION FREAKING DOLLARS.

A hedge fund called PointState Capital is currently enjoying that second state of cool, Bloomberg reported on Wednesday. The New York firm has made a $1 billion profit from betting that crude oil would crater, according to the report.

In hindsight, it does seem like a pretty no-duh bet to make. Way back in May 2014, Bloomberg notes, PointState CEO Zach Schreiber publicly laid out a simple case for crude's impending collapse. Schreiber correctly noted that oil and gas producers in the U.S. were pumping too much oil out of the ground and setting up a huge price decline -- in other words, rapidly strangling the goose that was, at the time, laying golden oil-filled eggs.

Since Schreiber's presentation, crude has fallen from roughly $100 a barrel in May to less than $50 a barrel this week. Bada bing, bada boom, make a billion dollars. So easy.

PointState started out with a relatively meager $5 billion in 2011, founded by alumni of a much bigger hedge fund run by a more famous hedge fund manager, Stanley Druckenmiller. Now its leader, Schreiber, who used to quietly trade oil and other commodities for Druckenmiller, is suddenly at real risk of becoming a rock-star hedge fund genius whose every move is followed obsessively.

But everybody's a genius in hindsight. Foresight is a lot harder. Untold scores of hedge funds took the opposite bet of PointState and got themselves slaughtered.

A PointState representative did not immediately respond to The Huffington Post's request for confirmation or comment.

The hedge funds who made the wrong call aren't the only ones suffering: The U.S. oil and gas producers Schreiber mentioned are starting to make layoffs and production cuts.

It's worth noting that Schreiber got an unexpected assist from OPEC, which decided in November to stand back and watch oil prices go straight to hell, hoping to squeeze out some U.S. producers. Almost nobody expected that to happen -- it's possible that even Schreiber didn't see it coming. He didn't mention it in his May presentation, Bloomberg points out.

This is not the first big hedge fund win that seems obvious in hindsight. Most famously, John Paulson, founder of Paulson and Co., made between $3 billion and $4 billion in a single year betting on the subprime mortgage collapse that everybody should have seen coming.

These guys make it look so easy that they inspire others to invest their money in hedge funds, or even to start their own. The trouble is that most hedge funds are big failures, unable even to keep up with the broader stock market.

It's not as easy as the geniuses make it look -- even for the geniuses. Paulson's ride since the financial crisis hasn't been bump-free; he took massive losses in 2011 and 2014 on big bets gone wrong. The list of huge hedge fund disasters is at least as long as the list of huge hedge fund wins.

For Schreiber, now comes the hard part. Though that $1 billion should ease the way a bit.