La Croix's Price Tanks After Earnings, Martin Shkreli is Running His Drug Company From Jail

  • LA CROIX CRATERS: The maker of La Croix, National Beverage Corp., saw profits fall 36.9% during the three months ending January 26, CNBC reports. The beverage company blamed the profit loss on "injustice," although it is unclear what sort of injustice they mean.

  • FIRE BROS: Have you heard of the FIRE movement? It promises Financial Independence and Retiring Early, and it's chock full of batshit bros, according to Mel. Check out the article and then learn about the women of the FIRE movement (who happen to be very cool!).

  • PREMIUM MEDIOCRE: Have you noticed that more upgrades are within your reach, but that they're not exactly fancy? You're not alone. The Business of Fashion explains the rise of premium mediocre in a December op-ed. 

  • SHKRELI'S BACK: Drug price gouger Martin Shkreli is apparently running his company from jail, The Wall Street Journal reports. 

  • BANKRUPTCY: The drug company behind Oxycontin, Purdue Pharma, is considering filing for bankruptcy, Reuters reports. 

The Traumatic Job of Monitoring Facebook Posts; 53 Victoria's Secret Stores Set to Close

  • MUST READ: If you read anything this weekend, make sure it's this story from The Verge on the people who moderate Facebook's "reported" posts. The workers, who get paid hourly, are exposed to traumatizing material on a regular basis, all while given few freedoms by their employer, according to the report.

  • VICTORIA'S SECRET CLOSINGS: After another tough quarter, L Brands, the parent company of Victoria's Secret, announced that it will close more than 50 retail stores, Business of Fashion reports. 

  • YELLEN IS YELLIN': Former Federal Reserve Chair Janet Yellen told Bloomberg this week that President Donald Trump doesn't understand how the central bank works. 

  • ECONOMIC GROWTH: The American economy grew again during the fourth quarter of 2018, swelling by 2.6% during the quarter, the Wall Street Journal reports. This is a continuation of a decade-long expansion for the U.S. economy. 

  • HELPING WOMEN: Want women working in retail to advance into management? The Harvard Business Review has a list of 12 ways to do it. 

Pinterest Will Go Public This Spring, The Lip Bar Opens Its First Brick and Mortar Location

  • PINTEREST IPO: Tech company Pinterest has filed to go public with a valuation of at least $12 billion, The Wall Street Journal reports. Translation: you will soon be able to buy and sell shares of the company.

  • MAKING MONEY MOVES: Cosmetics company The Lip Bar has opened its first brick and mortar store in Detroit, Crain's reports. Amanda spoke with the company's founder just one year ago. Check out what she shared here

  • MUTING, NOT CANCELING: Thinking about how cancel culture affects the community? Us too. This blog post on muting, rather than canceling, was illuminating.  

  • LET THEM BE HOBBIES: Don't give into the modern trap of turning hobbies into hustles, according to Man Repeller.

  • HAIR PEACE: New York City has made it illegal to discriminate based on someone's hairstyles, which provides a legal recourse for those who have been harassed or punished based on how they wear their hair, the New York Times reports.

Amazon Cancels HQ2; A Reckoning is Afoot for Music's Bad Men

  • BYE BYE HQ2: Online retail giant Amazon abruptly announced Thursday that it has canceled the opening of its second headquarters. The company had planned to open the second office space in New York, where it would have created 25,000 jobs (and likely displaced thousands of Queens residents), Reuters reports.

  • THERE'S ANOTHER VIDEO: Another video that allegedly features R&B star R. Kelly sexually assaulting an underage girl has surfaced, the New Yorker reports. Prosecutors are moving to indict Kelly using this video as evidence, which means he could face jail time for his actions. 

  • AND THEN THERE'S RYAN ADAMS: The alternative rock star promised musical success to several younger women, including his ex-wife Mandy Moore and indie darling Phoebe Bridgers, the New York Times reports. But these women and others say Adams turned abusive, threatening suicide and sexually harassing them, often to the detriment of their own music careers. 

  • GOVERNMENT SHUTDOWN: President Donald Trump will both sign the latest funding bill passed by Congress and declare a national state of emergency, CNN reports. 

  • WORKWEAR REPORT: Can grown women wear bows? While She Spends supports any and all bow journeys, public opinion on the accessory is mixed, according to The Wall Street Journal.

BB&T Acquires SunTrust, China Trade Tensions Ramp Up (Again)

  • BIG BANK DEAL: SunTrust Banks has been acquired by BB&T in the largest bank merger since the financial crisis, Reuters reports. The deal is interesting from a regulatory perspective: it's unclear whether it'll pass FTC muster. Have an account with either bank? Stand by for deal approval from the regulatory body before expecting to hear any changes to your account.

  • TRADE TENSIONS: A tariff deadline is looming: President Donald Trump promised to raise taxes on imported Chinese goods on March 1, Bloomberg reports. While Trump had said he would meet with Chinese President Xi Jinping in late February, that meeting no longer seems to be on the table.

  • CHANGING THE WORLD ON A 40 HOUR WORK WEEK: In response to theNew York Times piece on hustle culture that we featured last week, Jennifer Chanshared her thoughts on how workers can still change the world, without devoting their lives to their work.

  • CROWD-FUNDED: Candice Payne, an ordinary woman living on Chicago's South Side, managed to help 30 homeless folks into hotel rooms during last week's cold snap with money she raised through crowdfunding, the New York Times reports. 

  • MONEY REMIX: We are officially obsessed with this Girl Scout troop's remix of Cardi B's Money. (related: it's cookie season, so don't forget to support your local Girl Scout troop!)

GOVERNMENT SHUTDOWN WEARS ON WORKERS, SLOWS ECONOMIC GROWTH

  • GET A LOAN: Commerce secretary Wilbur Ross said Thursday that he didn't understand why federal workers, who are about to miss their second paycheck due to the government shutdown, are turning to food banks, NPR reports. According to Ross, these folks should get bridge loans instead. 

  • RAISE RULES: Women are far more likely to ask other women for raises than they are to ask men for those raises, new research shows, according to Aeon

  • WAGE GAP: And in more dismal wage gap news, the most common ways companies identify a gap between what they pay men and women could be faulty, according to the Harvard Business Review

  • ILLUSTRIOUS ERROR: American Illustration, a yearly collection of art, attempted to highlight the gender divide between men and women's works in this year's collection. However, the group's choice to make women's images 17 percent smaller than those created by men is not sitting well with the art community. Check out these Twitter threads to learn more.

  • GROWTH SLOWS: The U.S. economy is growing at a slower rate thanks to the government shutdown, CNBC reports.

  • FRIDAY INSPO: Paying off your credit card is a form of self-care, per some Twitterinspo

GOVERNMENT SHUTDOWN DRAGS ON, MAKING THINGS DIRE FOR WORKERS

  • SHUTDOWN CONTINUES: And things are getting dire for federal workers who are working without pay. While corporations are attempting to lighten the load for these workers, the fact remains that they have gone two pay periods without receiving money, Vox reports. 

  • ECHOING EFFECTS: The shutdown also affects domestic violence shelters, which are cutting services because they aren't receiving the federal funding they need to stay open, the Huffington Post reports.

  • REMEMBERING BOGLE: Jack Bogle, the creator of Vanguard and the man who made it much easier for individuals to invest in the stock market, has died,Institutional Investor reports.  

  • MORGAN STANLEY SUIT: A Morgan Stanley banker who was fired after her maternity leave has written to the company's CEO asking to get out of her arbitration so she can sue the company, Bloomberg reports. 

  • BE BETTER: Companies often say they are committed to diversity, but they often aren't all that supportive of their black workers. The Harvard Business Review has some ideas on how companies can do better by their workers of color. 

Markets Rally For Five Days Straight, U.S. Government Remains Shut Down

  • DON'T CALL IT A COMEBACK: At least, not yet. The markets rallied this week, posting the first five-day-long gain since September, CNBC reports. 

  • SHUTDOWN UPDATE: The ongoing government shutdown isn't just costing federal workers their paychecks. It could also cost the United States its triple-A credit rating, according to Axios

  • HE'S NOT RUNNING: Ex-hedge fund executive Tom Steyer held a press conference this week to announce that he is focusing on impeaching President Donald Trump instead of running for president, Institutional Investor reports. 

  • #METOO: Have you been watching Surviving R. Kelly? The Lifetime series is returning the focus of the #metoo movement to black women and girls, which according to one New York Times opinion piece, is where the focus should remain. 

  • FED FEAR: Federal Reserve chairman Jerome Powell said Thursday that he is worried about the growing pile of debt in the United States, CNBC reports. 

Government Remains Closed as Market Flounders

  • NEW YEAR, NEW MARKET?: The NASDAQ and Dow Jones Industrial Average, two indexes that measure how well the stock market is performing, are still struggling in the New Year. While we haven't reached a bear market yet, one could be in the card this year, analysts say, according to Marketwatch

  • PHARMA DEAL: Bristol Meyers Squibb has agreed to pay $74 billion for Celgene, inking the largest deal in pharmaceutical industry history. according toCNN

  • APPLE WOES: Tech giant Apple cut its first-quarter guidance on Wednesday after sales of the iPhone dropped in China, according to the Wall Street Journal

  • OUR BEST SKINCARE SECRET: It's money, and lots of it, according to The Atlantic

  • SHUTDOWN CONSEQUENCES: The federal government shutdown is hitting native communities particularly hard, according to the New York Times. These groups are reliant on federally funded food pantries and health clinics, which they receive in exchange for having given up so much land, according to the story. 

  • ICYMI: Over the holiday, Treasury Secretary Steven Mnuchin tweeted that he had made individual calls to the CEOs of the country's six biggest banks to ensure the had sufficient liquidity. According to CNBC, Mnuchin meant to telegraph that the economy is strong. Instead, the markets fell. 

Wage Gap Worse Than Initially Reported, Women Face a Commuting Gap Too

  • BAD NEWS: The gender wage gap is even worse than we thought, a new report published this week shows. Women make less than half of what men earn over the long term, according to the Huffington Post

  • MUST-READ: We love Call Your Girlfriend co-host Aminatou Sow's work diary in the New York Times this week. 

  • COMMUTING GAP: Women don't just deal with a wage gap - we face a commuting gap too. According to a new CNN report, women are paying more to commute to work daily than men. 

  • CASH FREE: A New York politician is working to make cash-free restaurants and other businesses a thing of the past, according to Grubstreet

  • PE-OWNED NURSING HOMES: When private-equity firm Carlyle Group acquired a nursing home, its patients suffered, a new report from the Washington Post shows. 

Democrats Win Back the House: What This Means for Your Retirement

  • DEMS TAKE THE HOUSE: A split Congress will slow down legislation on social security, Medicare and other retirement-related issues, MarketWatch reports.

  • VC FUNDING: Venture capital funding for female-founded startups is down this year, TechCrunch reports. Just 2.2 percent of VC money was invested in female-founded companies. 

  • UNBELIEVABLE: Christine Blasey Ford has had to move several times, and has been unable to return to her job as a professor, NPR reports. 

  • PE BALLOTS: Private equity firms are behind the three major voting machine companies, according to Bloomberg

U.S. Stock Market Experiences Another Drop, Finance Execs Say They're Not Going To Saudi Investment Conference

  • DOW DOWN (AGAIN): The Dow Jones Industrial Average, a benchmark for U.S. stocks, had seen an uptick earlier in the week. However, on Thursday, the market fell again on concerns over Italy's national budget and relations between the United States and Saudi Arabia, according to Reuters

  • DAVOS IN THE DESERT: Many major financial players are ditching the Future Investment Initiative summit, also known as Davos in the Desert, after the disappearance and subsequent killing of journalist Jamal Khashoggi, who was a U.S. citizen. The latest among those to pull out was Treasury Secretary Steve Mnuchin, who announced the news on Thursday, according to Business Insider

  • THIS WEEK IN MENSTRUATION: Menstrual product startup, Flex, which offers a disposable menstrual disc, had two major announcements this week, according to Fortune. Flex has acquired another startup, Keela, which sells a reusable menstrual cup. The company has also raised $3.6 million in venture capital. 

  • LEGALIZE IT: It is now legal to use cannabis in Canada, and as a result, the business will soon be booming. If you're interested in investing, Bloomberg has a smart guide. 

U.S. Stock Market Falls, Trump Blames The Federal Reserve

  • DOW DOWN: The Dow Jones Industrial Average, a benchmark for U.S. stocks, fell for the second day Thursday, as investors dumped risky assets during volatile trading, CNBC reports. 

  • WHAT CAUSED THE DROP?: It's important to note that the stock market fall is more like a correction than a bear market (to qualify as a bear market, the drop has to be sustained). President Donald Trump blamed the Federal Reserve for the drop, claiming that Chairman Jerome Powell is raising interest rates too quickly, CNBC reports. In truth, concerns about interest rates and Federal Reserve policy did start the market correction. But once it initially fell, volatility in the market picked up, driving a further drop.

  • SO WHAT DO I DO?: Of course, we're not investment advisers, so we can't provide specific advice, but experts recommend that investors who are saving for retirement or other long-term goals don't make any rash moves. Instead, wait to see where the markets are going and check in with your financial adviser if you have one! 

  • RISK AVERSE?: We think not. Women who invest are not as risk averse as once believed to be, according to a new Bloomberg report. 

  • THE AUDIT GAP: Another gender gap, another day. Less than 20 percent of investment auditors at S&P 500 companies are women, according to the CFA Institute.

Goldman Sachs Names New Executives, Wall Street Remembers the Fall of Lehman Brothers

  • GOLDMAN NEWS: Goldman Sachs has named a new operating chief and chief financial officer, Reuters reports. Unsurprisingly, they're both men. Want to dig deeper on Goldman? The New York Times has an interesting piece on how a former executive tried to whistleblow the company but ultimately failed. 

  • FALL OF LEHMAN: It has been ten years since banking giant Lehman Brothers had to file for bankruptcy as a result of the financial crisis. Media outlets have been sharing retrospectives on the symbolic bankruptcy all week, but our favorite piece was one by Barry Ritholtz on the crimes that were committed — but not prosecuted — before, during and after the financial crisis.  

  • MEASURING UP: JPMorgan chief executive officer Jamie Dimon said he is smarter than Donald Trump this week at an event at his company's headquarters, CNBC reports.

  • TESLA TROUBLES: Again? Yes, again. The electric car maker's chief accounting officer quit, Bloomberg reports. 

Elon Musk, Tesla Sued, Earnings Reports May Become Obsolete

  • END OF EARNINGS?: Publicly traded companies complain all the time about having to report their earnings on a quarterly basis. Harvard Business Review explores what would happen if they were no longer required to do so.

  • GEN Z WORKS: Generation Z — born from 1996 onward — is coming to the workforce, The Wall Street Journal reports. Here's what they want from work. 

  • TESLA UPDATE: Short seller Andrew Left of Citron Research is suing Tesla and Elon Musk, claiming that his tweets artificially inflated the company's stock price, Institutional Investor reports.

Duncan Hunter Accused of Campaign Finance Violations, Eventbrite Prepares for IPO

  • WITHOUT A WILL: Aretha Franklin died with a net worth of $80 million, but didn't leave behind a will, Business Insider reports. 
  • CAMPAIGN FINANCE VIOLATIONS: Representative Duncan Hunter of California has been accused of misusing campaign funds, Reuters reports. 
  • EVENTBRITE IPO: Ticketing business Eventbrite has announced that it aims to raise $200 million by making an initial public offering, CNBC reports. 
  • WHERE ARE THE WOMEN: At hedge funds, women are rarely making investment decisions. The Wall Street Journal explores why. 
  • CEO DROP: A drop in the number of female chief executive officers is dangerous for gender equity, CNN reports. 

Tesla Continues To Struggle With Bad Press, Bumble Launches Venture Capital Fund

  • TESLA TROUBLE: Electronic vehicle maker Tesla continued to struggle this week, as a former security employee has filed a whistleblower complaint with the Securities and Exchange Commission alleging that Tesla failed to disclose stolen goods to shareholders and that the company was spying on employees, CNBC reports. 
  • BIOTECH FOR WOMEN: A women's health care company called Antiva Biosciences is working to render a cervical surgery for women with HPV unnecessary. But male venture capitalists and OBGYNs are struggling to see the importance of the drug, Stat News reports. 

  • LEAD BETTER: Managers often waste their employees' time. The Wall Street Journal details how managers can become better at providing the right amount of work for the people they employ.

  • GENERIC EPIPEN: The U.S. Food and Drug Administration has approved a generic version of the EpiPen, which will drive down the cost of the pricey drug, Marketwatch reports. 

  • BUMBLE BIZ: Bumble announced Wednesday that it plans to launch a venture capital fund dedicated to investing in women-owned and -operated businesses, TechCrunch reports. 

  • MOVIEPASS MADNESS: Try to cancel your Moviepass? Double check that it actually went through. Vox reports that some users were re-enrolled.

Tesla Stock Bounces, Rep. Collins Charged With Insider Trading

  • TESLA TROUBLE: Electronic vehicle maker Tesla's CEO Elon Musk made waves this week when he tweeted that he was going to take the company private for $420. The company's stock bounced, and investors were confused whether the series of tweets were a joke. It turns out Musk was serious: Tesla is considering going private, which will give Musk and investors more control while allowing them to avoid short sellers. The situation, though, led to an investigation on the part of the Securities and Exchange Commission, Bloomberg reports. 
  • COLLINS COMPLICATION: New York Rep. Chris Collins was charged by the SEC this week for insider trading, The New York Times reports. He sat on the board at a biotech company and allegedly alerted family members to the news that one of its drugs had failed a trial. They allegedly sold shares of the company based on that information.
  • MEDIA MERGER: Tribune Media, which was set to be sold for $3.9 billion to the Sinclair Broadcast Group, terminated its merger this week, according to Reuters
  • ADMIRABLE WITCH: Hetty Green was a powerful force on Wall Street in its early days. This New York Post piece explores her influence and why she was considered a witch by some.

Apple Stock Sets Records, Physical Therapy's Wage Gap Persists

  • APPLE RECORD: Apple's stock set records on Thursday when its market capitalization hit $1 trillion, CNBC reports. The company's stock is the first publicly traded U.S.-listed company to hit $1 trillion. 
  • SAY HER NAME: Nia Wilson, an eighteen-year-old black woman from Oakland, California, was murdered randomly by a white man on July 22. Her death, and how it was treated in the media after, is an example of how in the United States, far less attention is paid to the random deaths of women of color than white women, according to the New Yorker
  • REAL SUCCESS: The RealReal, a luxury online consignment store, is set to open its second brick and mortar store soon, according to CNBC. This bodes well for the consignment industry, the report says. 
  • CBS EARNINGS: CBS reported earnings on Thursday, but spent no time discussing allegations of sexual harassment by its CEO Leslie Moonves published in the New Yorker earlier this week, according to the Wall Street Journal.
  • PHYSICAL THERAPY'S WAGE GAP: The wage gap is a major problem for the physical therapy industry, a new survey shows

Facebook Stock Tumbles 18%, 23andMe Is Sharing Customer Data With Drugmaker Glaxo Smith Kline

  • FACEBOOK FUMBLE: Facebook's (FB) stock fell nearly 20%, losing almost $120 billion in value, Marketwatch reports. The cause for the drop? In Facebook's Wednesday earnings report, the company said it expects revenue to drop in future quarters. 
  • AMAZON EARNINGS: Amazon also reported second-quarter earnings this week. The online retail giant attributed record profits to a boost in ad sales and cloud computing, Reuters reports.   
  • NINE TO FIVE: The nine to five workday is getting in the way of women's progress at work, according to CNN
  • DOMESTIC VIOLENCE LEAVE: New Zealand has enacted a policy that allows victims of domestic violence to receive paid leave for up to ten days, giving them time to find a new home and to get their affairs in order, according to The Guardian
  • 23andMe: Drugmaker Glaxo Smith Kline has teamed up with 23andMe to use the genetic data collected to create new drugs, according to NBC News.

- Alicia McElhaney / She Spends Issue #63

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