Business, page 2
Running the thing: costs, suppliers, staff and the paperwork.
Yesterday
Skechers puts its Manhattan Beach headquarters building up for sale
Skechers just put its Manhattan Beach headquarters building up for sale. The three-story office property has nearly 30,000 square feet. CBRE, the massive commercial real estate firm, is handling the sale. The building will be delivered completely vacant to the buyer.
Sunrise Senior Living pushes $7.5 billion pipeline for High-End senior communities
High-End senior housing developers are launching major new building projects. Sunrise Senior Living is leading with a $7.5 billion pipeline. High construction costs mean middle-market projects do not make financial sense. Developers are focusing strictly on luxury communities that command top rent.
Elon Musk and Jeff Bezos face off in orbit next summer
NASA plans a double docking test in orbit next summer. Four astronauts will test lunar landers from SpaceX and Blue Origin. The Artemis IV moon landing remains scheduled for 2028. This new space race races against China.
NJEDA approves tax credits up to $57.4 million for Newark housing
New Jersey just backed two big affordable housing projects. The state approved tax credits worth up to $57.4 million total. Cottage Place and Crown Village will build or fix 274 units. Construction on Cottage Place starts in March 2027.
Salesforce just bought customer-Engagement platform Braze for nearly $5.7 billion
Salesforce is buying Braze for $5.66 billion including debt. Shareholders get $47.50 cash per common stock owned. That is a 58 percent premium on Monday price. The massive software deal will close in fiscal 2028. Salesforce sells customer software to companies everywhere.
Publix just dropped over $100 million in cash to buy two Miami shopping centers
Publix spent over $100 million in cash in just one month. The grocery chain bought two Miami-Dade shopping centers where its stores are tenants. The deals include the $83.3 million purchase of Airpark Plaza. Publix owns more than 170 parcels across South Florida worth billions.
Peter Thiel says Apple has done nothing new since Steve Jobs
Peter Thiel claims Apple has stalled since Steve Jobs died. The billionaire tech investor spoke in a September podcast interview. He called the iPhone maker a well-run value stock. Apple has faced criticism for falling behind in artificial intelligence.
Saturday, October 24
Elon Musk invests $1 billion in David Ellison’s Skydance
Elon Musk put $1 billion into Skydance. David Ellison runs the massive new media giant. Warner Bros. Discovery carries $82.5 billion in debt. Ellison aims for $6 billion in yearly cuts. The debt sits on big television and movie networks.
Bill Gates warns artificial intelligence will bring 20 years of economic turmoil
Bill Gates says artificial intelligence will bring massive economic upheaval. The Microsoft co-founder warns the twenty-year transition will disrupt jobs. Society is not ready for the rapid technological changes ahead. Machines could eventually perform much of the physical labor.
Jensen Huang says Nvidia chips could last over eight years as lending assets
Jensen Huang, the head of Nvidia, says his artificial intelligence chips can last eight years. Wall Street usually assumes a four-year cycle for technology hardware. Lenders could soon use the valuable systems as loan collateral. That long lifespan could lower borrowing risks for big data centers.
Thursday, October 22
Brooklyn College gets $3 million federal grant for student career programs
Brooklyn College, a public university in New York, secured $3 million from the U.S. Department of Education. The five-year ROOTS initiative provides $1 million immediately to help students prepare for jobs. This funding will expand mentoring and career workshops.
Tesla profits plunge 29 percent to $787 million as robot spending surges
Tesla just reported net income dropped to $787 million as spending surged on AI. Automotive revenue fell 3% to $20.56 billion in the quarter. Capital expenditures more than doubled from a year earlier to $3.73 billion.
Jewish billionaire Mark Zuckerberg says 10 million use Meta Muse AI agent
Over 10 million people used Meta Muse in six weeks. Demand forced Meta to work with Stripe to raise credit limits. One quarter of adopters use the shopping agent daily. Average purchase size tops $200 per transaction.
Trader Joe's reveals exact addresses for two new New Jersey stores
Trader Joe's, the neighborhood grocery store chain, just revealed two new spots. They are opening at 55 Hudson St. In Jersey City. Another is coming to 457 Mount Pleasant Ave. In West Orange. Openings usually follow within three to six months. New Jersey currently has 20 stores across the state.
Elon Musk reportedly invests about $1 billion in Skydance
Elon Musk just put about $1 billion into Skydance. The giant new studio faces a massive debt burden. The funding comes as co-CEOs merge major film units. They plan deep cuts across two huge streaming platforms.
Moderna reveals full Phase 3 data for its customized mRNA melanoma vaccine
Moderna shares a new melanoma vaccine trial. The biotech company built an mRNA shot for tumors. The study met goals with Merck and Keytruda. Doctors will review the full data in Madrid.
Elon Musk says training Tesla's Optimus robot is like raising a toddler
Tesla is building 20,000 humanoid robots at its factory. Elon Musk compared training the machines to raising a toddler. The robots must learn tasks by watching people and practicing. Tesla plans to begin delivering the robots by next year.
Walmart just finalized its Vibe.co purchase as retail giants race into AI shopping
Walmart just finalized its Vibe.co purchase for about $1.4 billion. The deal connects streaming TV ads directly to store purchases. Amazon just hit a $3 trillion valuation milestone this week. Both retail giants are racing to build AI shopping assistants.
Wednesday, October 21
IRS gives Florida taxpayers until February 8, 2027 to file returns
Florida taxpayers get relief after Hurricane Isaias. You now have until February 8, 2027 to file returns and pay. Twenty-seven counties qualify automatically for the extension. Others can call the IRS Special Services line. Check if your business is in a covered area.
Meta ordered to pay $25 billion penalty over Cambridge Analytica case
A New Mexico judge ordered Meta to pay $25 billion. The massive penalty follows a deceptive trade practices trial. A jury found the tech giant committed nearly 50 million violations. Meta called the ruling an impossible tax on speech. The company plans to appeal the decision.
Warren Buffett's Berkshire Hathaway hits record high as Greg Abel deploys $21.3 billion
Berkshire Hathaway Class B shares just hit a record high of $543.06. New CEO Greg Abel deployed over $21.3 billion in less than a year. Investors are cheering his moves after Warren Buffett stepped down. That means confidence is returning to the massive holding company.
Elon Musk offers SpaceX employees 20% extra pay to build Memphis supercomputers
SpaceX is offering employees a 20% pay bump. They must move to Memphis for six weeks. Volunteers will help build massive data centers. Elon Musk leads the private rocket and satellite company. Travel expenses and logistics are fully covered.
Elon Musk says AI rivals are hounding SpaceX to rent its compute
SpaceX chief Elon Musk is facing relentless demand for computer power. AI rivals want to rent the company spare processing capacity. Musk says demand is so high they could rent it out several times over. Half the capacity stays inside for Grok and coding startups.
Jamie Dimon warns of 5 economic threats facing the U.S.
Jamie Dimon, the head of JPMorgan Chase, warns of five economic threats. Large deficits, sticky inflation, and high rates threaten U.S. growth. Inflation hit 3.7% in September, beating economists’ forecasts. The federal budget deficit reached roughly $2 trillion for the year.
Nvidia unveils 14-day AI factory containers as Jensen Huang pushes Europe
Nvidia just launched a modular AI factory design called DSX POD. It cuts setup time at a prepared site down from six months to 14 days. Dell Technologies and other partners will deliver the units worldwide in early 2027.
Nvidia CEO Jensen Huang says data center builders must be good neighbors
Nvidia chief Jensen Huang warns data center builders to partner with local towns early. New York just placed a one-year freeze on new data centers over grid strain. Texas also paused new connections while studying power use and noise limits.
Bankrate reveals first-time homebuyer grants offer up to $30,000 for down payments
Bankrate, the financial services company, published a Guide on first-time homebuyer grants. Grants offer between $2,500 and $30,000 for your down payment. You never pay back the money if you move. Much of the money marketed as a grant is actually a loan.
Jamie Dimon says US economy is doing just fine and times are good
Jamie Dimon says the economy is in good standing right now. He points to strong corporate profits and low unemployment numbers. Sticky inflation and high energy prices still hurt your paycheck. Your grocery and utility bills take a bigger bite each month.
Billionaire Mark Rowan just dropped $30M on a record North Fork land buy
Mark Rowan spent thirty million on land in East Marion. The head of Apollo Global Management bought over one hundred acres. Neighbors saw trucks and wondered if big construction was starting. Rowan says he is only cleaning up old trash and junk. He has no plans to build anything right now.
NJEDA to host small business resource fair in Newark on Tuesday
The NJEDA is hosting a free small business resource fair in Newark. It runs Tuesday from 9 a.m. To noon at NJIT. Business owners can meet experts to find funding and programs. Free parking is available at the NJIT parking deck.
