What we’re reading (5/25)
“Q1 2024 Household Debt And Credit: Rising Delinquency Rates Raising Concerns” (Regions). “The overall delinquency rate on household debt rose to 3.25 percent in Q1 from 3.13 percent in Q4 2023, with a particularly large increase in severely derogatory accounts, i.e., those accounts in some stage of delinquency on which there has been either a report of repossession, a charge-off to bad debt, or a foreclosure action. Though having moved higher over recent quarters, early-stage and overall delinquency rates remain below pre-pandemic norms.”
“Inside The Rockefeller Clan’s Intensifying Feud With Exxon” (Wall Street Journal). “The Rockefeller Family Fund, the charity she [Rockefeller heir Miranda Kaiser] is president of, is funding litigation and other support for more than 30 lawsuits around the U.S. against the fossil fuel industry. Exxon is a defendant in all of them. Fund staffers also consult with state attorneys general, nine of whom have brought cases against Exxon. The cases aim to collect billions of dollars from Exxon and its peers for their contributions to climate change and the damages caused by it.”
“How A Global Seafood Giant Broke Red Lobster” (CNN Business). “Thai Union’s damaging decisions drove the pioneering chain’s fall, according to 13 former Red Lobster executives and senior leaders in various areas of the business as well as analysts. All but two of the former Red Lobster employees spoke to CNN under the condition of anonymity because of either non-disclosure agreements with Thai Union; fear that speaking out would harm their careers; or because they don’t want to jeopardize deferred compensation from Red Lobster.”
“Instagram’s Desperate Move” (Business Insider). “Ultimately, the Instagram badges aren't the end of the world. At best, they're a nothingburger. At worst, they seem a bit lame and add to the vibe that Instagram is becoming a platform for olds.”
“Meta Walked Away From News. Now The Company’s Using It For AI Content.” (Washington Post). “After years of Meta steadily walking away from news on its platforms, the company’s new AI tool is now using the work of those outlets for content.”
