June 15, 2019 at 3:00 a.m.
Meeker issues internet report
Business Roundup
Mary Meeker’s highly anticipated annual report on internet trends has arrived.
Meeker, a Jay County native, issued her first report on internet trends in 1995 when she was an analyst at Morgan Stanley.
Since then, her annual report has become one of the most closely followed by investors.
Meeker, who recently left Kleiner Perkins as a general partner, has founded Bond Capital, her own venture capital firm.
She published her 333-slide “Future of the Internet” report Tuesday ahead of a presentation at Recode’s Code Conference in Scottsdale, Arizona.
The annual report underlines the most important trends and statistics on internet use globally.
This year’s report noted slowing growth in e-commerce, data growth and increased internet ad spending. She also tracked information on telemedicine, interactive gaming and the on-demand economy.
“If it feels like we’re all drinking from a data firehose, it’s because we are,” Meeker told the audience.
She noted that half the world’s population is now on the internet but that its growth is slowing down.
The number of people active online last year grew by 6% to about 3.8 billion, or 51% of the world’s total population. In 2017, there were 3.6 billion people online, or 49% of the population, she reported.
A Jay County High School alumna, Meeker received her bachelor’s degree from DePauw University.
Recalled
Tyson Foods, Inc., parent of Tyson Mexican Original of Portland, has recalled more than 190,000 pounds of its fully-cooked, whole grain golden crispy chicken chunk fritters.
They may be contaminated with hard plastic, the company said in a press release.
The product is not sold in retail grocery stores, and the voluntary recall is limited to food service customers, including schools nationwide, the company said.
The fritters are not part of the National School Lunch Program but were purchased separately by individual schools, the U.S. Department of Agriculture said.
The recalled product carries establishment number "P-1325" stamped inside the USDA mark of inspection. The fritters are sold in 32.81-pound cases that contain four 8.2-pound bags.
New vests
Walmart announced this week that it’s going to switch out its traditional blue vests for employees and provide new vests in shades of orange, blue, hot pink and green.
The pockets will be larger so associates can carry more equipment on the floor, and each vest is getting a large logo on the back so shoppers can easily identify who works at the store.
The new vests are coming to Walmart stores later this year.
Retiring
Claude Davis is retiring as an executive at First Financial Bancorp, where he has been executive chairman for the past year and was chief executive officer for more than 13 years before that, Cincinnati Business Courier reported this week. Davis will continue to serve as board chairman.
The change will become effective as of the end of 2019.
Davis stepped down as CEO in April 2018 to become executive chairman when First Financial completed its acquisition of Greensburg, Ind.-based MainSource Financial Group Inc. Archie Brown, who had been MainSource CEO, became First Financial’s CEO after the acquisition.
Unhappy judge
A federal judge still has questions about the merger of CVS Health and insurance giant Aetna.
Barron’s reported this week that Judge Richard Leon of the U.S. District Court in Washington held two days of a hearing on the final step needed to gain approval for the $70 billion merger: a so-called Tunney Act hearing to approve a consent decree between CVS and the Justice Department.
These decrees are normally fast and painless. This one was neither, Barron’s said.
It is unclear whether the court can or will unwind the entire deal.
Overcharged
Comcast violated Washington state’s Consumer Protection Act by charging nearly 31,000 residents without their knowledge for a service-protection plan, a King County Superior Court judge has ruled.
The Seattle Times reported that Judge Timothy Bradshaw imposed $9.1 million in civil penalties against Comcast. He directed the company to pay additional money in restitution to the affected customers within 60 days.
Big fines
Federal safety regulators have proposed fining Family Dollar Stores more than $300,000 for what the regulators say are safety violations at an Omaha, Nebraska, store, The Associated Press reported.
Occupational Safety and Health Administration inspectors found two serious violations, four repeat violations and one "other than serious" violation at the store.
OSHA said the serious violations included an emergency exit door that was locked with a scissor-like mechanism that required special knowledge to open.
The four repeat violations alleged included what OSHA says were obstructed emergency exits, unsecured helium tanks and an obstructed path to the building's breaker control panels, The Associated Press reported.
And more headaches
The Supreme Court on Monday agreed to decide whether Comcast may be sued for race discrimination over its decision not to carry programming from an entertainment company owned by an African-American entrepreneur.
A federal appeals court in California ruled that the case could move forward under a Reconstruction-era federal law that gives “all persons” the same right to “make and enforce contracts” as “is enjoyed by white citizens,” according to The New York Times.
Meeker, a Jay County native, issued her first report on internet trends in 1995 when she was an analyst at Morgan Stanley.
Since then, her annual report has become one of the most closely followed by investors.
Meeker, who recently left Kleiner Perkins as a general partner, has founded Bond Capital, her own venture capital firm.
She published her 333-slide “Future of the Internet” report Tuesday ahead of a presentation at Recode’s Code Conference in Scottsdale, Arizona.
The annual report underlines the most important trends and statistics on internet use globally.
This year’s report noted slowing growth in e-commerce, data growth and increased internet ad spending. She also tracked information on telemedicine, interactive gaming and the on-demand economy.
“If it feels like we’re all drinking from a data firehose, it’s because we are,” Meeker told the audience.
She noted that half the world’s population is now on the internet but that its growth is slowing down.
The number of people active online last year grew by 6% to about 3.8 billion, or 51% of the world’s total population. In 2017, there were 3.6 billion people online, or 49% of the population, she reported.
A Jay County High School alumna, Meeker received her bachelor’s degree from DePauw University.
Recalled
Tyson Foods, Inc., parent of Tyson Mexican Original of Portland, has recalled more than 190,000 pounds of its fully-cooked, whole grain golden crispy chicken chunk fritters.
They may be contaminated with hard plastic, the company said in a press release.
The product is not sold in retail grocery stores, and the voluntary recall is limited to food service customers, including schools nationwide, the company said.
The fritters are not part of the National School Lunch Program but were purchased separately by individual schools, the U.S. Department of Agriculture said.
The recalled product carries establishment number "P-1325" stamped inside the USDA mark of inspection. The fritters are sold in 32.81-pound cases that contain four 8.2-pound bags.
New vests
Walmart announced this week that it’s going to switch out its traditional blue vests for employees and provide new vests in shades of orange, blue, hot pink and green.
The pockets will be larger so associates can carry more equipment on the floor, and each vest is getting a large logo on the back so shoppers can easily identify who works at the store.
The new vests are coming to Walmart stores later this year.
Retiring
Claude Davis is retiring as an executive at First Financial Bancorp, where he has been executive chairman for the past year and was chief executive officer for more than 13 years before that, Cincinnati Business Courier reported this week. Davis will continue to serve as board chairman.
The change will become effective as of the end of 2019.
Davis stepped down as CEO in April 2018 to become executive chairman when First Financial completed its acquisition of Greensburg, Ind.-based MainSource Financial Group Inc. Archie Brown, who had been MainSource CEO, became First Financial’s CEO after the acquisition.
Unhappy judge
A federal judge still has questions about the merger of CVS Health and insurance giant Aetna.
Barron’s reported this week that Judge Richard Leon of the U.S. District Court in Washington held two days of a hearing on the final step needed to gain approval for the $70 billion merger: a so-called Tunney Act hearing to approve a consent decree between CVS and the Justice Department.
These decrees are normally fast and painless. This one was neither, Barron’s said.
It is unclear whether the court can or will unwind the entire deal.
Overcharged
Comcast violated Washington state’s Consumer Protection Act by charging nearly 31,000 residents without their knowledge for a service-protection plan, a King County Superior Court judge has ruled.
The Seattle Times reported that Judge Timothy Bradshaw imposed $9.1 million in civil penalties against Comcast. He directed the company to pay additional money in restitution to the affected customers within 60 days.
Big fines
Federal safety regulators have proposed fining Family Dollar Stores more than $300,000 for what the regulators say are safety violations at an Omaha, Nebraska, store, The Associated Press reported.
Occupational Safety and Health Administration inspectors found two serious violations, four repeat violations and one "other than serious" violation at the store.
OSHA said the serious violations included an emergency exit door that was locked with a scissor-like mechanism that required special knowledge to open.
The four repeat violations alleged included what OSHA says were obstructed emergency exits, unsecured helium tanks and an obstructed path to the building's breaker control panels, The Associated Press reported.
And more headaches
The Supreme Court on Monday agreed to decide whether Comcast may be sued for race discrimination over its decision not to carry programming from an entertainment company owned by an African-American entrepreneur.
A federal appeals court in California ruled that the case could move forward under a Reconstruction-era federal law that gives “all persons” the same right to “make and enforce contracts” as “is enjoyed by white citizens,” according to The New York Times.
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