Bonus Chapter A: Business Law - McGraw-Hill Introduction to Business

Investors Lose Billions in Massive Crypto Exchange Collapse

November 16, 2022

Few financial sectors are as volatile as cryptocurrency, with the price of bitcoin down by more than 60 percent since the start of the year. The coin’s recent drop can be directly attributed to the downfall of FTX, a crypto exchange once valued at more than $32 billion. Founded by Samuel Bankman-Fried, FTX attracted the interest of top venture capital firms who invested hundreds of millions in the seemingly promising project. The company purchased mainstream legitimacy with their immense capital, Continue reading →

Regulation, Bitcoin, Cryptocurrency, Marketing, Ethics, Promotions, Entrepreneurship, Currency, Banking

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 16: Place and Promotion, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

FDA Announces New Rules for Labeling “Healthy” Foods

October 12, 2022

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According to the Centers for Disease Control and Prevention (CDC), six out of 10 Americans suffer from chronic lifestyle-related diseases that often stem from obesity and poor diet. These illnesses are the nation’s leading drivers of death and disability, as well as the central cause behind the $4.1 trillion in annual health-care costs paid by Americans. Obesity rates climbed during the pandemic, especially among children, with studies showing that 45.7 percent of 5- to 11-year-olds are now considered overweight. Given Continue reading →

Product Development, Regulation, Packaging, Marketing, Product Distribution, Ethics, FDA, Nutrition, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter A: Business Law

Closed Baby Formula Plant Resumes Production

August 31, 2022

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Earlier this year, we looked at how the nationwide shortage of baby formula was poised to continue for months after Abbott Nutrition shut down a Michigan plant in February. An inspector from the Food & Drug Administration (FDA) discovered a leaking roof in the facility, pools of water on the floor, and cracks in production equipment used to produce the brand Similac. FDA commissioner Dr. Robert Califf described the conditions as “egregiously unsanitary” while acknowledging that the federal agency should Continue reading →

Manufacturing, Food & Drink, Supply & Demand, Operations Management, Global, Ethics, Regulation, Entrepreneurship, FDA

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law

Mattel Sues Rap Snacks over “Barbie-Que” Chips

August 19, 2022

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Since 1994, Rap Snacks has sold chips, popcorn, and even instant noodles featuring hip hop stars like Snoop Dogg, Migos, and Lil Baby on the packaging. The most recent addition to this lineup of talent is Nicki Minaj, who launched her “Barbie-Que Honey Truffle” potato chips earlier this summer. While Rap Snacks hoped this high-profile partnership would make a big splash on social media, the brand instead attracted the attention of an entirely different audience: the notoriously litigious toy company Continue reading →

Copyright, Promotions, Marketing, Entertainment, Ethics, Packaging, Music, Legal, Food & Drink

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Chapter 16: Place and Promotion, Bonus Chapter A: Business Law

Nonstop Scams Hurt Americans’ Wallets and Mental Health

July 19, 2022

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Do you pick up the phone when you receive a call from an unknown number? Considering that Americans receive an average of 28 spam calls per month, it would be understandable if you just let the phone ring. On top of all those phony calls, smartphone owners also receive an estimated 42 spam texts each month. And once you start receiving these messages, they’re unlikely to stop anytime soon: numbers that end up in spam databases often get sold and Continue reading →

Federal Trade Commission, Ethics, Regulation, Fraud, Robocalls, Telemarketing

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter A: Business Law

Americans Lose more than $1 Billion to Crypto Scams

June 8, 2022

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Over the last few years cryptocurrency has gone from the fringes of finance to the mainstream, complete with celebrity Super Bowl ads and widespread interest from Wall Street. But while more people know about crypto than ever before, that doesn’t necessarily mean that it’s a safe investment. According to the Federal Trade Commission (FTC), Americans have lost more than $1 billion to cryptocurrency scams since the beginning of last year. In fact, crypto con jobs now account for a fourth Continue reading →

Money, Fraud, Cryptocurrency, Ethics, Currency, Regulation

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 19: Securities Markets, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Shipping Companies Ignore Farmers in Pursuit of Greater Profits

April 21, 2022

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Before the pandemic, enormous shipping vessels bound for the West Coast of the U.S. from Asia usually took the same predictable and profitable voyages. After docking in either the port of Los Angeles or Long Beach, the ships would unload their cargo and then head up north to Oakland, where they stocked up on agricultural goods from California’s expansive farmland. This cargo would ultimately end up in markets around the world after journeying across the Pacific and disembarking in Southeast Continue reading →

Shipping, Food & Drink, Supply & Demand, Ethics, Regulation, Entrepreneurship, Supply chains, Manufacturing, Transportation, Product Distribution, Agriculture

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 15: Distribution, Bonus Chapter A: Business Law

[VIDEO] How the Fed Steers Interest Rates to Guide the Entire Economy

March 17, 2022

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With inflation rising to its highest levels in 40 years, the Federal Reserve plans to take action by raising interest rates in an effort to get the money supply under control. This video looks at the ways the Fed guides the economy by influencing the federal funds rate, which then affects everything from banking policies to the housing market.

Questions:

Why is the Fed planning to raise the federal funds rate?
How does the federal funds rate eventually affect Continue reading →

Regulation, Federal Reserve, Money Supply, Inflation, Economics

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Videos

Banks Plan to Reduce or Eliminate Overdraft Fees

February 25, 2022

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In theory, overdraft fees charged by banks are meant to be a “convenience” for customers so that their purchases are not declined when they are unknowingly low on funds. In practice, however, these fees have become a major revenue generator for banks that charge an average of $33.58 for each overdraft. That means consumers can be hit with multiple fees if they accidentally make numerous purchases while past the limits of their account. Studies show that this practice particularly harms Continue reading →

Banking, Finance, Regulation, Legal, CFPB, Ethics, Overdraft fees

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 D: Personal Finance

Study Finds Paycheck Protection Program Helped Bosses more than Employees

February 1, 2022

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In the early days of the pandemic, the federal government passed the $800 billion Paycheck Protection Program (PPP) in order to provide money for payroll expenses that had been lost during the nationwide shutdowns. The initiative offered companies with 500 or fewer workers low-interest loans of up to $10 million to cover about two months of payroll. With unemployment soaring at the time, the idea was to bring relief to struggling employees while simultaneously giving businesses more breathing room on Continue reading →

Regulation, Ethics, Coronavirus, Entrepreneurship, Stimulus, Human Resources, Pandemic, Unemployment

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 11: Human Resource Management, Chapter 12: Labor Management and Unions, Bonus Chapter A: Business Law