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Nobody Knows What to Do with Bankrupt Redbox’s Rental Kiosks

November 5, 2024

Redbox launched its video rental kiosk business back in the early 2000s when the industry was still dominated by chains like Blockbuster. While brick-and-mortar stores charged $2 to $5 per night, customers could rent movies at Redbox for just $1 since the kiosks were much cheaper to maintain than physical locations. Customers also liked that Redbox operated 24/7, functioning more like a vending machine than a retailer. By 2007, the company had more U.S. locations than Blockbuster. Redbox peaked in Continue reading →

Bank Sues for Check Fraud after ‘Infinite Money Glitch’ Trend

November 1, 2024

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Last summer, a viral social media stunt claimed to show people withdrawing huge amounts of cash by exploiting a “glitch” at JPMorgan Chase bank ATMs. The unverified rumor claimed that anyone could deposit a large check to their own account using a mobile device and then withdraw “unlimited money” from an ATM before the bank cleared the check. Some people tried the stunt with varying levels of success. In one case in Houston, a man wearing a mask deposited a Continue reading →

Banking, Crime, Fraud, Cash, Ethics, TikTok, Social Media

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

Rising Costs and Reluctant Customers Hurt Music Festivals

October 29, 2024

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With sunny weather, beautiful views, and lots of open space, California is one of the country’s most popular settings for music festivals. Thousands of people travel to the Golden State every summer to attend dozens of festivals — including Coachella, the most-attended annual music festival in North America. However, it’s getting more expensive to run a music festival in California as the cost of living keeps going up. Prices for transportation, accommodations, labor, and refreshments have skyrocketed above the typical Continue reading →

Entrepreneurship, Music, Product Distribution, Supply & Demand, Inflation, Promotions, Entertainment, Marketing, Pricing

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion

Outbreak at Boar’s Head Disrupts America’s Deli Industry

October 25, 2024

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Before causing the worst listeriosis outbreak in the U.S. since 2011, Boar’s Head was best known as one of the most recognizable — and most ruthless — deli-meat brands at the supermarket. The company started in 1905, when founder Frank Brunckhorst started selling deli meats out of a horse-drawn carriage in Brooklyn, New York. As it expanded into a $3 billion per year business, Boar’s Head made aggressive moves to protect its reputation for high quality. The company sued competitors Continue reading →

Ethics, Manufacturing, Product Distribution, Marketing, Food & Drink, Operations Management

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

[VIDEO] Why Walgreens And CVS Are Shutting Down Thousands Of Locations

October 24, 2024

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Walgreens and CVS stores are common sights on American street corners, but in the coming years there will be significantly fewer of them around. The video below takes a detailed look at the recent struggles faced by U.S. pharmacy chains as they plan to shut down thousands of locations nationwide.

Questions:

Why are Walgreens and CVS closing thousands of stores over the coming years? What are some factors that have contributed to their problems?
How can entrepreneurs help prevent “pharmacy deserts”?

Chocolate Prices Are Scarily High This Halloween

October 22, 2024

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For millions of Americans, Halloween is all about eating candy. And there’s no variety of candy more beloved than chocolate. According to national surveys, the average American’s favorite Halloween candy is a chocolate treat like M&Ms, Snickers, or Reese’s Peanut Butter Cups. But this year, you may notice less chocolate in your family’s trick-or-treat stash. That’s because cocoa prices are at record highs after three years of poor crops. The price of cocoa has doubled since the start of 2024 Continue reading →

Packaging, Marketing, Product Distribution, Agriculture, Halloween, Holidays, Food & Drink, Supply & Demand, Product Development, Promotions, Supply chains

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Limp Bizkit Sues Record Company for $200 Million

October 17, 2024

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In the 1980s, record companies started releasing music on compact discs after a century of producing vinyl albums. Driven by new digital technology, the music business soon exploded into a billion dollar industry. But with big budgets came big fights over profits between record companies and recording artists. For example, the R&B group TLC blamed an unfair contract with their record label when they filed for bankruptcy in the 1990s despite selling 65 million records. Musical innovator Prince temporarily changed Continue reading →

Motivation, Ethics, Labor Relations, Product Development, Compensation, Streaming, Product Distribution

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 10: Motivation, Chapter 12: Labor Management and Unions, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

23andMe Struggles to Turn Customers Into Subscribers

October 15, 2024

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Since the discovery of DNA’s structure in the 1950s, scientists have predicted a future where doctors could analyze a patient’s genes to identify and even prevent certain diseases. The medical industry seemed to be moving closer to that goal in 2007 when 23andMe became the first company to release a direct-to-consumer genetic test. Named for the 23 pairs of chromosomes in human DNA, 23andMe analyzed saliva samples from customers to show their ancestry and predispositions to diseases like cancer and Continue reading →

Product Development, Marketing, Pricing, Ethics, Startups, Entrepreneurship, Product Distribution, Subscriptions, Genetics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

U.S. Port Strike Ends Quickly but Could Come Back

October 11, 2024

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Over the last few months, companies around the globe kept a close eye on American ports as a key union agreement neared its expiration date. The International Longshoremen’s Association, a union representing 50,000 members, demanded wage increases that met resistance from management. Unable to reach an agreement, the union went on strike at the beginning of last week.

But not for long. Just three days after longshoremen at East and Gulf Coast ports walked out on their jobs, employers represented Continue reading →

[VIDEO] How Kodak Invented the “Snapshot”

October 10, 2024

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Photography was once a specialized field where only trained professionals had the expertise to shoot and develop prints. Then in the late 19th century, Kodak released the first of many “point-and-shoot” cameras that would change the industry forever. The video below explores the fascinating history behind the “snapshot” and how technological innovations can bring niche products to a wider market.

Questions:

How did the introduction of point-and-shoot cameras change the photography market?
Do you see any similarities between the Continue reading →

Rising Costs and Reluctant Customers Hurt Music Festivals

Chocolate Prices Are Scarily High This Halloween

[VIDEO] How Kodak Invented the “Snapshot”

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