✈️ Meet the "Sky Office"
!["I'll take the Sky Office, please" [Jayme Thornton via GettyImages]](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/4zyMRdziVJgYgD03aV60Iy_2_GettyImages-82290685.jpg)
Hey Snackers,
You know what we want? What we really, really want?
To point out that it’s been 25 years since the Spice Girls dropped "Wannabe" and went on to become the best-selling girl group of AT – and biggest British pop success since the Beatles.
Fun fact: the S&P 500 is enjoying record highs too, up more than six times higher than the day "Wannabe" dropped.
United just placed its biggest airplane order — we call them “Sky Offices”
They should pay in points… United is buying 270 new Boeing and Airbus planes in the largest aircraft deal in a decade. We’re talking $30B worth of flying metal that’ll result in: 100 new flights/day, 30% more seats, and a hefty 25K new jobs.
When you say “Work From Anywhere”... does that include 35K feet? United’s new birds aren’t the ultra skinny ones — and that’s on purpose. To get business flyers back, United seems to be creating flying offices with hopes that you’ll “Work From Airplane”:
- More: More legroom, in-seat screens, and overhead suitcase space.
- Faster: WiFi speeds kicked up a few notches so… you’re… not… buffering.
- Premium-ier: Overall seating capacity will rise 30%, but premium seating will jump 75%, meaning more room to physically network.
United could be opting for the Field of Dreams strategy... If you build it, they may come. Bill Gates predicted that half of business travel is never coming back. But United’s CEO disagrees: “Every day tells us that business and international travel will ultimately come back 100%.” Bold. But that may be why United splurged a record amount on this deal: As marketing to convince you that working from an airplane is comfy. United isn’t just predicting demand — it’s trying to create demand.
Foxconn was supposed to create the “8th Wonder of the World” in Wisconsin – it didn’t
Check the back of your Apple device… “Designed in California, assembled in China” — not on the label: Assembled at Foxconn’s Chinese manufacturing facility. Taiwan-based Foxconn has done to electronic manufacturing what Henry Ford did to carmaking. And it was supposed to expand that expertise to a brand new factory in the US. Time for an update:
“8th Wonder of the World”... That’s what then-President Trump called the Foxconn plan for Wisconsin: Hire up to 13K local workers to make screens for cars, TVs, and other electronics. In exchange, Foxconn would get up to $4B in benefits from the state, county, and the small town of Mount Pleasant, WI. So here’s the update:
Transactional incentives can be a powerful weapon… that can backfire. Wisconsin hoped to be the epicenter of advanced American manufacturing. Instead, the town is saddled with debt, and local workers face broken job promises. The lesson Wisconsin officials took: One-off deals with corporations for job creation may not be optimal. Instead, CNBC highlights that Wisconsin is pivoting to focus on workforce development, infrastructure, and biz-friendly policies – not deals.
What else we’re Snackin’
Biz: The Biden administration is reportedly working on an executive order to direct agencies to have stronger oversight over big business.
Vax: Sanofi, one of the world’s biggest vaccine makers, plans to invest about $500 million per year to catch up in making mRNA vax technology.
Pop: Chinese ride-hailing company Didi reportedly priced its IPO at $14 per share, giving it a market cap of at least $67 billion.
Biodome: US home prices rose in April at their fastest pace in 15 years, according to an S&P index tracking 20 metro areas.
Yikes: The data of more than 92% of LinkedIn users, or 700 million people, has been compromised in a new breach that scraped the Microsoft-owned networking site.
Wednesday
- Earnings expected from General Mills, Svedka-owner Constellation Brands, Bed, Bath & Beyond, and Micron
Authors of this Snacks own shares of: Apple
ID: 1704443