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Mayo Clinic's operating income soars past $1 billion for the first time

Business / Business News /

Mayo Clinic's operating income topped $1 billion for the first time in 2019 as the Rochester-based health system saw more hospital patients and surgery cases across its primary medical centers in Minnesota, Arizona and Florida.

The earnings figure surged by 72% compared with 2018, an increase fueled by patient demand that looked surprisingly ...Read more

Trump plea for US to shrug off virus fears ignored by markets

Business / Business News /

WASHINGTON -- President Donald Trump and his top advisers want global markets and the American public to believe that the coronavirus poses little risk to the U.S.

But the U.S. Centers for Disease Control and Prevention is saying just the opposite -- warning Tuesday that the virus's spread in America is inevitable and could bring significant ...Read more

Jamaica and Caymans deny cruise ship, industry stocks drop as coronavirus spreads

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Miami-based cruise companies saw their stocks plummet Tuesday as the spread of coronavirus rattled markets for the second day in a row.

The sell-off happened as Jamaica and the Cayman Islands denied permission to an MSC Cruises ship, the Meraviglia, to disembark passengers Tuesday as scheduled for fear that an ill crew member could have the ...Read more

Michael Hiltzik: Trump says the economy is doing great — but whose economy is it?

Business / Business News /

President Trump and his economic advisors have been taking a rather premature victory lap about the nation's economic performance during his three years in office.

It's premature in part because Trump's term isn't over yet. And also because the economy hasn't performed nearly as well as he says, even if one discounts a good portion of his ...Read more

SpaceX officially can start building its Mars spaceship at Port of LA

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SpaceX's roadmap to Mars now includes the Port of Los Angeles.

The Los Angeles City Council approved a permit Tuesday that allows the Elon Musk-led company to use a site at the Port of L.A. to build aerospace parts. With this vote, SpaceX is now cleared to start work at the site -- last week, the L.A. Board of Harbor Commissioners green-lighted...Read more

Bob Chapek named Walt Disney Co. CEO, replacing Bob Iger

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Longtime Disney parks chairman Bob Chapek has been named chief executive of Walt Disney Co., effective immediately, the company said Tuesday.

Former CEO Bob Iger assumes the role of executive chairman and will direct the company's creative endeavors and help guide the company's board through the leadership transition until the end of his ...Read more

Federal safety official slams Tesla, regulators for misuse of its Autopilot tech

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The chairman of the National Transportation Safety Board slammed Tesla and unnamed "government regulators" for jeopardizing traffic safety by not taking measures to prevent "foreseeable abuse" of Tesla's Autopilot driver-assist feature.

Robert Sumwalt, chairman of the NTSB, led off a board meeting Tuesday focused on a March 2019 fatal crash of ...Read more

Juul faces 39-state investigation of e-cigarette marketing to teens

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NEW YORK -- Juul Labs Inc.'s legal woes expanded on Tuesday as 39 state attorneys general announced a joint investigation into whether the top U.S. e-cigarette maker is marketing its addictive nicotine products to children.

The probe will also examine Juul's claims about its products' nicotine content and their effectiveness in helping longtime...Read more

Amazon expands its checkout-free store lineup with Seattle opening of first Go Grocery

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SEATTLE -- Amazon's next step in its disruption of the grocery store business is rolling out in Seattle.

Amazon Go Grocery, the online retailer's first checkout-free grocery store, opened Tuesday morning in a 10,400-square-foot space on East Pike Street between Belmont and Boylston avenues on Capitol Hill.

The new store, which has been hidden ...Read more

Boeing lands year's first sales win as Japan's ANA orders a dozen 787 Dreamliners

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The board of All Nippon Airways (ANA) on Tuesday approved a firm order for a dozen Boeing 787 Dreamliners, with an option to purchase five more later, giving Boeing its first sales win of the year.

Based on market data from airplane valuation firm Avitas, the firm order is worth about $1.9 billion after standard discounts.

The new order ...Read more

Consumer Confidential: It's time to regulate internet service like any other utility

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Speculation has been growing in recent days that struggling satellite-TV provider Dish Network could merge with AT&T's DirecTV satellite service.

Dish's chairman, Charlie Ergen, fanned the flames last week when he told financial analysts a deal with rival DirecTV is "probably inevitable" as both services navigate an increasingly challenging ...Read more

Boeing CEO Dave Calhoun must meet long list of goals before collecting $7 million bonus

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New Boeing CEO Dave Calhoun will have to deliver a substantial list of successes within three years or he'll miss out on a $7 million performance bonus that came with his appointment to the top job in December.

In January, the Boeing board had laid out Calhoun's total compensation, which would give him almost $36 million over a three-year ...Read more

Qualcomm CEO Steve Mollenkopf nominated to Boeing's board

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Boeing Co. has nominated Qualcomm Chief Executive Steve Mollenkopf to serve on the aerospace giant's board of directors.

Mollenkopf, 51, became Qualcomm's CEO in 2014 and led the wireless technology firm through a series of disputes, including a failed hostile takeover attempt by Broadcom, a nasty two-year legal fight with Apple and anti-...Read more

Talks underway in Congress on 'Retirement 2.0' savings package

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WASHINGTON -- Republicans and Democrats have begun discussing a new round of retirement savings legislation centered on House Ways and Means Chairman Richard E. Neal's proposal to require businesses with at least 10 employees to offer retirement plans and automatically funnel a portion of their workers' pay into savings.

Backers, including ...Read more

Jeff Opdyke: Is it still retirement if you have to work?

Business / Business News /

Most Americans don't have enough money saved to retire on, and Social Security isn't sufficient all by itself. Where do you find yourself in relation to these figures?

--The U.S. Bureau of Labor Statistics reports that households headed by those over 65 spend, on average, about $46,000 a year, or about $3,833 a month.

--The average couple ...Read more

Hydro Flask started out at farmers markets. Here's how it got so huge

Business / Business News /

Jelly shoes. JNCO jeans. Juicy Couture tracksuits. Ugg boots. Over the decades, any number of fashion pieces have enjoyed their moment as an "it" item. Now we're in the era of must-have water bottle.

The Hydro Flask looks like what it is: a sleek, insulated, color-coated stainless-steel container for storing liquid.

How it distinguished itself...Read more

Liz Reyer: Congratulations on realizing you're a control freak. Here's what to do about it

Business / Business News /

Q: I've gotten feedback that I withhold information, second-guess people, and don't delegate enough. I've figured out that it's driven by lack of trust, but I don't know what to do about it. Incidentally, this only is happening at work; I'm fine with friends and family.

--Phillip, 50, vice president, operations

A: Your first step into self-...Read more

The #MeToo movement is much bigger than Harvey Weinstein's verdict

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NEW YORK -- There was once a time, just two short years ago, before "Weinstein clauses" and "Weinstein taxes," before "intimacy coordinators" and "disgrace insurance."

Before, in other words, the #MeToo movement and its chief villain, Harvey Weinstein, tore through corridors of power and prompted a global reckoning for rich, powerful men. The ...Read more

Dee Dee Myers will leave job as Warner Bros.' head of corporate communications

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Dee Dee Myers, head of corporate communications at the nearly century-old movie and television studio Warner Bros., has announced she is leaving her role after five years.

Once the inspiration for the hit show "The West Wing" character C.J. Cregg (portrayed by Allison Janney) after her years as White House press secretary for President Clinton,...Read more

Jeff Opdyke: Unpleasant surprises in retirement aren't what you think

Business / Business News /

Our brains are ill-equipped to handle what they cannot foresee, the result of something known as status quo bias, an assumption that every tomorrow will pretty much look like every today.

Problem is, life constantly changes. Most changes are small and either unnoticed or easily managed. A few, however, are substantial and radically disrupt our ...Read more