Forbes Daily: Will Stocks See Santa Claus Rally After Last Week’s Rebound?

Monday’s edition of Forbes Daily covers Biden’s commutation of death row sentences, CFPB sues Zelle, Dick’s Sporting Goods’ success, an anti-woke VC firm and more.
Zachery Lindgren · 3 days ago · 3 minutes read


Unveiling the Newest Business Frontiers

Dick's Sporting Goods: The Brick-and-Mortar Comeback Kid

In an era dominated by online retail, Dick's Sporting Goods is going against the grain with its bold investment in brick-and-mortar stores. Boasting impressive new features like indoor climbing walls and outdoor sports fields, the retailer's unique jumbo format is paying off.

Despite the challenges of the COVID-19 pandemic, Dick's has consistently recorded positive sales growth, making it a standout among its peers. With an estimated $2 billion expansion budget, Ed Stack's vision for Dick's is transforming the sporting goods landscape.

Biden's Death Row Pardon: A Blow to Capital Punishment

In a significant move, President Joe Biden has commuted the sentences of nearly all federal death row prisoners. This decision prevents President-elect Trump from reinstating capital punishment at the federal level.

"I am more convinced than ever that we must stop the use of the death penalty at the federal level," Biden declared, citing both his conscience and the need for a more humane criminal justice system.

Zelle Under Fire for Fraudulent Transactions

The Consumer Financial Protection Bureau has accused Zelle and its parent companies, including JPMorgan Chase and Bank of America, of failing to protect consumers from fraudulent activity.

The lawsuit claims that Zelle customers have lost over $870 million since the platform's launch in 2017. The agency is seeking relief for affected consumers, with the amount to be determined in court.

Starbucks Strike Looms as Workers Fight for Fair Pay

Starbucks baristas across major U.S. cities are preparing to strike on Christmas Eve if the company does not improve its wage offer in contract negotiations.

While the parties have tentatively agreed on several issues, they remain at odds over Starbucks' proposal to delay pay raises. The union is demanding immediate increases and a guaranteed 1.5% in future years.

Georgia Tech: An Engineering Powerhouse in the South

Under the leadership of President Ángel Cabrera, Georgia Tech has ascended to the ranks of engineering titans like MIT, Stanford, and Caltech.

The university has prioritized inclusivity and forged strong partnerships with tech giants like Microsoft, making it a hub for the booming "Silicon Valley of the South" in Atlanta.

Raw Milk's Risky Resurgence Amid Health Concerns

Despite repeated warnings from federal health regulators, Raw Farm, the largest producer of raw milk in the U.S., is experiencing exponential sales growth.

With Robert F. Kennedy Jr.'s potential appointment to lead the Department of Health and Human Services, the company hopes to expand its reach even further.

New Founding: A Venture Capital Fund for the "Unwoke"

A small but growing number of venture capital funds are rejecting "wokeism" and aligning their investments with conservative values.

New Founding, one such fund, aims to create a "parallel economy" offering conservative alternatives to products and services provided by companies viewed as too liberal.

Netflix Scores Major Deal for FIFA Women's World Cup Rights

In a significant victory, Netflix has secured exclusive streaming rights for the 2027 and 2031 FIFA Women's World Cup tournaments.

This deal marks Netflix's entry into the live sports market and reflects the growing popularity of women's soccer worldwide.