Tim Atticus, Jbs Foods, Procter And Gamble discussed on America's First News
Is this? Are we going to continue to see this? You know, at least for today. We are because AMC shares as we're talking about this are resuming higher and it's not just am see, but you can take a look at the usual what we call mean suspects, including blackberry, bed, bath and beyond. And even as you mentioned Gamestop and these are all once again in the headlines Trading higher because of what is going on with Reddit. And you know, we saw this earlier in the year and I think It's kind of a conundrum for people because when you look at some of the fundamentals quickly, let's say AMC and you and I have kind of you know over the last year asked a lot of questions about the future of going to the movies. Sure. You know, there's there's been this structural change out there that you don't necessarily need to go to the movies anymore. You don't need to go to Gamestop to get games. I mean 52% of gaming Last year was mobile. Right. So what's the future of Gamestop? My concern with all of this is that because they're being touted in the headlines are touting in a check group that individual investors might get sucked into something that is, as we would say, Frosty. Over and done that they should not be in as an investor. That's my big concern. So AMC has launched a new platform on its website just for new retail investors. Uh oh, yeah. Oh, yes. You're referring to what? I joke as the popcorn dividend aren't yes. Um, is that in reaction to this You know, it's so funny because I heard some people applaud M C for, um, embracing individual shareholders. The reality is there have been a ton of companies out there that embrace individual shareholders. One Great example is Procter and Gamble. You know, if you're a shareholder, you can get coupons for a number of their products. Is this new? I guess is the first question And the answer is no. No, it is not. Um Is it a step in the right direction? I think so. Uh, I don't really see how getting up Bucket of popcorn is going to help me understand the company's business. I don't understand how it's going to, you know, impact the business profitably. It might save me. I don't know what's a What's a gallon bucket of popcorn? Go for 10 bucks or some nonsense like that, so it might save my wallet a little bit, so maybe a fringe benefit, But I I It's to me more, uh, It's more, um liquid yellow liquid on the popcorn. And I say that only because I don't even know if it's butter anymore. That is a good point. Switch gears here Chris and talk about what happened with JBs Foods, the world's largest meat producer. It's back online following the ransomware hack this week, according to the FBI was a Russian based hacker group. This follows the hack of the colonial pipeline and other infrastructure. Frankly, how concerning is this and how vulnerable are these U. S companies? So there's two ways to answer that the first would be as a regular citizen, right and it does have me concerned because they're not going after necessarily the quote obvious. Um, cos the obvious institutions. What they're doing is they're getting very creative and disrupting the way of life. There are also in doing this hitting us where we tend to, you know, think most, which is our wallets right? When the colonial pipeline was hacked, we talked about how gas prices Skyrocketed on the East Coast as a result of the JBs hack. We are seeing destruction in, uh, meat production that is going to hit consumers, particularly in you know, chicken and beef prices, at least for a time being. So this is kind of an indirect sneak attack, if you will. So I am concerned about that. Luckily, these are very short lived. My greater concern as a citizen again is we see the frequency of these types attack grow. As an investor, though You know, this should bolster awareness, broaden out the types of companies that really need to rethink, refocus and spend on cybersecurity solutions. So as an investor, it's a little bittersweet. This isn't the way I would want to see it. But I am happy to see that greater awareness is being had on the need for cybersecurity activist firm Engine One has claimed another board on X on a third board seat. This is an upstart to activist firm that's been targeting the oil giant since December. Trying to shift the company really away from fossil fuels. What do you make of this, Chris? And have you ever seen anything like this? Well, I think we're seeing more of it in this world that is increasingly focused on E. S. G. There was a report out this morning even that the European Union is planning this flap and import levy on steel, cement and aluminum produced in countries with lower environmental standards. So the game is changing. Make no mistake, and I think companies are going to be forced to clean up what they do. We've seen coronavirus cases falling fast number of people losing jobs to initial jobless claims dropping by 20,000 to 385,000 in the week ending May 29th, according to the government, the fifth decline in a row. That's fantastic to see. But what about job openings right now? Chris. Uh, we're still looking at filling a record number of those. Yeah, You're absolutely right. And it's one of the things that we try to keep track of alongside, Um Job openings and closings with the weekly. Uh, sorry, but the monthly jolts report that tends to lag a little bit, but we also saw some data coming out from the December sorry from the Dallas Reserve report. Um, and it talked about the mismatch between skills. You know, it's it's employers are having an easier time finding higher skilled employees. But they're having a much more difficult time finding lower skilled employees. And I think that's really the issue. You know a lot of these folks who work at restaurants or other just retail or other low paying jobs. Their skill sets have atrophied a little bit. And if you think about how businesses have To pivot during the pandemic. Um you know, they're potentially a little outmoded, and I think what we're going to see is the need for these folks to retool as best they can list. May be left behind. We talked about this, Chris, when, uh, the former administration wanted to bring back coal mining and the fact that industries have really past large segments of the population by Do you see that changing with the situation we have now as we embrace certain technologies, whether it's robotics, a A, R V R, or we Embrace new forms of energy, whether it's solar hydro wind. Um biomass, for example, bio fuels. There are new jobs being created as a result. The challenge is for some people. How do they retool right to fit into those new areas of job growth? That's that's always been the challenge. This is nothing new. We can talk about it. We went from, you know, horse and buggy whips two cars, it happens. What people have to adapt. That's I'm sad to say That's that's the reality. It's Tim Atticus, Christopher says. Joining me here on a F. N this morning. The economy expanded last quarter at a robust a 6.4% annual rate. Economists envision growth in the Current quarter, reaching the sizzling annual pace of 9% or more, but all of its raised inflation fears, too. For now, it has propelled that demand for workers And United Airlines is aiming to bring back a supersonic travel before the decades over with a plane that hasn't been built. The airline said Thursday. It plans to buy 15 jets from boom supersonic with an option for 35 more once the startup designs of plane that flies faster than the speed of sound..