Newsletter May 27, 2021

Mass shootings have become a near-daily occurrence in the US, and the tragedy at a California rail yard added eight more victims to the death toll.

3 Things

Reload, remorse, repeat: Forgive us if you've read this before (Lord knows we're tired of writing it) but another mass murder tops the news. Only the locations, names and number of victims change as Americans grow increasingly numb and frustrated over the issue.
This time it was San Jose, Calif., where a train worker opened fire and killed eight fellow employees and himself as police closed in. It was the latest in an epidemic of mass shootings across the country.
"What the hell is wrong with us, and when are we going to come to grips with this?" said California Governor Gavin Newsom at a press conference, where he praised the swift response of law enforcement.
Newsom's words ring true yet very familiar as each gun tragedy is followed by calls for reform to no avail -- like the shooting at the FedEx facility in Indianapolis, a grocery store in Colorado, spas in Atlanta, and.an office building, festival and rail yard in California.
President Joe Biden called the incident a "horrific tragedy" and repeated his calls for gun legislation: "Once again, I urge Congress to take immediate action and heed the call of the American people, including the vast majority of gun owners, to help end this epidemic of gun violence in America. Every life that is taken by a bullet pierces the soul of our nation. We can, and we must, do more," he said.
WHY ARE LEADERS DRAGGING THEIR FEET ON GUN LAWS?

Tracking down COVID: The growing questions about the origins of COVID-19 has prompted Biden to call on US intelligence officials to get to the bottom of the case once and for all within the next 90 days.
Responding to recent reports of a Chinese coverup of the virus that claimed the lives of more than 3.4 million worldwide and a half million Americans, Biden ordered US intelligence agencies to report to him in the next three months on whether the Covid-19 virus first emerged in China from an animal source or from a lab accident.
Intelligence officials should "redouble their efforts to collect and analyze information that could bring us closer to a definitive conclusion," said Biden, escalating the pressure on China to be more transparent and forthright about a possible man-made virus.
SEE WHAT BIDEN IS CALLING FOR INTEL OFFICIALS TO DO

Corporate coup: Thwarted by attempts to get big oil companies to take climate change seriously, environmentalists are trying a new strategy -- the corporate boardroom takeover. The tactic certainly worked Wednesday as activists effectively hijacked two companies.
ExxonMobile and Chevron saw climate change activists appointed to their boards to push for reform from within the companies. The groups were able to convince enough shareholders that renewable energy is not just good for people and the planet, but also for profits.
"Today's Exxon vote sends the unmistakable signal that climate action is a financial imperative," said Fred Krupp, president of Environmental Defense Fund. "Now Exxon(Mobile)'s board has an important responsibility to help the company transform its approach to the climate crisis and energy transition."
FIND OUT WHAT ACTIONS THE GROUP INTENDS TO TAKE

Markets

DJIA	34,323.05	0.03%
S&P 500	4,195.99	0.19%
Nasdaq Composite	13,738.00	0.59%
Japan: Nikkei 225	28,417.91	-0.78%
UK: FTSE 100	7,026.93	-0.04%
Crude Oil Futures	65.93	-0.42%
Gold Futures	1,893.60	-0.40%
Yen	109.12	-0.02%
Euro	1.22	-0.06%
* As of market close

Staying the course

Former President Franklin Delano Roosevelt calmed Americans' fears during the Great Depression with slogans like "All we have to fear is fear itself." Such sound advice also applies to the COVID pandemic recovery.

The Federal Reserve echoed FDR's words Wednesday in addressing the growing fears of out-of-control inflation. Fed Vice Chair Randal Quarles advised patience and expressed optimism about the economy's direction.

"I expect inflation to begin subsiding at some point over the next several months and to be running close to two percent again at some point during 2022," Quarles said Wednesday. "Therefore, we need to remain patient in the face of what seem to be transitory shocks to prices and wages."

The Fed has pledged to keep the benchmark lending rate at zero and continue its massive bond buying program until unemployment comes down from the current 6.1% and inflation is on track to stay above 2.0%.

But some economists are wary the US central bank is getting behind the curve as a key inflation index hit 2.3 percent in March. Quarles underlined the Fed's view that most of factors causing prices to rise are temporary.

FIND OUT QUARLES' PROJECTIONS FOR GROWTH AND INFLATION

Amazon Prime(time)

Amazon built an empire by allowing consumers to easily acquire the goods of their desire. On Wednesday, the online retail giant did the same, purchasing MGM and its entire award-winning catalog for $8.45 billion.

In an effort to rival Netflix and Disney+ for streaming service superiority, Amazon Prime Video dug deep into its pockets and went way back in time to acquire cinema classics you won't be able to see anywhere else, like "Ben-Hur," "Gone With The Wind" and the James Bond collection.

In all, Amazon received about 4,000 movies and 17,000 television shows from the blockbuster deal to go along with its existing library, creating a potential powerhouse in the emerging streaming industry. MGM's history spans from the early days of black-and-white silent movies to the silver screen, and from Hollywood's golden age to today's high-tech digital era.

The move comes as Amazon founder and CEO Jeff Bezos prepares to step aside and turn the reins over to his replacement effective July 5.

CHECK OUT AMAZON'S PLANS TO TAKE MGM TO THE NEXT LEVEL

Blackened bombshell

Popeyes is literally turning up the heat on the chicken wars by offering its new Blackened Chicken Sandwich that's sure to spice up the competition.

Following a wave of fast-food restaurants releasing their latest versions of chicken sandwiches to answer rivals, Popeyes is kicking things up a notch. While McDonald's, Chick-fil-a, KFC and more have their own takes on a spicy chicken sandwich, no one has dared to go full Cajun until now.

For those unfamiliar with the concept, blackening is a cooking process common in Cajun kitchens that involves coating a protein with special spicy seasonings, like cayenne pepper and garlic powder, and lightly burning it in a cast iron skillet -- except Popeyes' sandwich will be fried.

The Blackened Chicken Sandwich is coming soon to a Popeyes near you, and we recommend ordering a few extra napkins for your face and tears.

FIND OUT HOW TO GET YOUR BLACKENED CHICKEN SANDWICH