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Old Brick Farm, where Larry Doll raises chickens, turkeys and ducks, was fortunate this Thanksgiving season.Doll’s small farm west of Detroit had no cases of bird flu, despite an ongoing outbreak that killed more than 2 million U.S. turkeys in the last three months alone. He also avoided another disease, avian metapneumovirus, which causes turkeys to lay fewer eggs.“I try to keep the operation as clean as possible, and not bringing other animals in from other farms helps mitigate that risk as well,” said Doll, whose farm has been in his family for five generations.But Doll still saw the impact as those diseases shrank the U.S. turkey flock to a 40-year low this year. The hatchery where he gets his turkey chicks had fewer available this year. He plans to order another 100 hatchlings soon, even though they won’t arrive until July.“If you don’t get your order in early, you’re not going to get it,” he said. Thanksgiving costs vary The shrinking population is expected to cause wholesale turkey prices to rise 44% this year, according to the U.S. Department of Agriculture. Despite the increase, many stores are offering discounted or even free turkeys to soften the potential blow to Thanksgiving meal budgets. But even if the bird is cheaper than last year, the ingredients to prepare the rest of the holiday feast may not be. Tariffs on imported steel, for example, have increased prices for canned goods.As of Nov. 17, a basket of 11 Thanksgiving staples including a 10-pound frozen turkey, 10 Russet potatoes, a box of stuffing and cans of corn, green beans and cranberry sauce cost $58.81, or 4.1% more than last year, according to Datasembly, a market research company that surveys weekly prices at 150,000 U.S. stores. That’s higher than the average price increase for food eaten at home, which rose 2.7% in September, according to the U.S. Bureau of Labor Statistics.Datasembly showed a 2% decline in the retail price of a 10-pound turkey as of Nov. 17. Pricing out Thanksgiving meals isn’t an exact science, and the firm’s tally differed from other estimates.The American Farm Bureau Federation, which uses volunteer shoppers in all 50 states to survey prices, reported that Thanksgiving dinner for 10 would cost $55.16 this year, or 5% less than last year. The Wells Fargo Agri-Food Institute, using NielsenIQ data from September, estimated that feeding 10 people on Thursday using store-brand products would cost $80 this year, which is 2% to 3% lower than last year’s estimate. Tempting turkey prices Grocery chains are also offering deals to attract shoppers. Discount grocer Aldi is advertising a $40 meal for 10 with 21 items. Kroger said shoppers could feed 10 people for under $50 with its menu of store-brand products.Earlier this month, President Donald Trump touted Walmart’s Thanksgiving meal basket, which he said was 25% cheaper than last year. But that was because Walmart included a different assortment and fewer products overall this year.“We’re seeing some promotions being implemented in an effort to draw customers into the store,” David Ortega, a professor of food economics and policy at Michigan State University, said.That’s despite a sharp increase in wholesale turkey prices since August. In the second week of November, frozen 8-16 pound hens were averaging $1.77 per pound, up 81% from the same period last year, according to Mark Jordan, the executive director of Leap Market Analytics, which closely follows the poultry and livestock markets.Avian viruses are the main culprit. But another reason for turkey’s higher wholesale prices has been an increase in consumer demand as other meats have gotten more expensive, Jordan said. Beef prices were up 14% in September compared to last year, for example.“For a big chunk of the population, they look at steak cuts and say, ‘I can’t or I don’t want to pay $30 a pound,'” Jordan said.That’s the case for Paul Nadeau, a retired consultant from Austin, Texas, who plans to smoke a turkey this week. Nadeau said he usually smokes a brisket over Thanksgiving weekend, but the beef brisket he buys would now cost more than $100. Turkey prices are also up at his local H-E-B supermarket, he said, but not by as much.“I don’t know of anything that’s down in price since last year except for eggs,” Nadeau said. Tariffs and weather Trump’s tariffs on imported steel and aluminum are also raising prices. Farok Contractor, a distinguished professor of management and global business at the Rutgers Business School, said customers are paying 10 cents to 40 cents more per can when companies pass on the full cost of tariffs.Tariffs may be partly to blame for the increased cost of jellied cranberry sauce, which was up 38% from last year in Datasembly’s survey. But weather was also a factor. U.S. cranberry production is expected to be down 9% this year, hurt by drought conditions in Massachusetts, according to the U.S. Department of Agriculture.In Illinois, where most of the country’s canning pumpkins are grown, dry weather actually helped pumpkins avoid diseases that are more prevalent in wet conditions, said Raghela Scavuzzo, an associate director of food systems development at the Illinois Farm Bureau and the executive director of the Illinois Specialty Growers Association. Datasembly found that a 30-ounce can of pumpkin pie mix cost 5% less than last year. Farm to table Back at Old Brick Farm, which has been in his family since 1864, Doll walked among his turkeys the week before Thanksgiving, patting their heads as they waddled between their warm barn and an open pasture. In a few days, he planned to deliver them to an Amish butcher.Doll sold all 92 turkeys he raised this year, with customers paying $6.50 per pound for what many tell him is the best turkey they’ve ever tasted. He enjoys a little profit, he said, and the good feeling of supplying a holiday meal.“I just love it, to think that, you know, not only are we providing them food, but the centerpiece of their Thanksgiving dinner,” he said. Associated Press Video Journalist Mike Householder contributed. Dee-Ann Durbin, AP Business Writer
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E-Commerce
The Thanksgiving holiday is nearly upon us, which means tens of millions of Americans will be traveling nationwide this week to visit their loved ones and celebrate around the dinner table with them on Thursday. The majority of that travel both to and from Turkey Day destinations is expected to kick off tomorrow, Tuesday, November 25, and run through Monday, December 1, which are the dates the American Automobile Association (AAA) defines as the 2025 Thanksgiving holiday period. Its the busiest travel period for Americans, even beating out holidays like the Fourth of July and Christmas. While several million Americans are expected to make their Thanksgiving journeys by air or train, the overwhelming majoritymore than 73 million this yearare expected to travel by car. If that includes you, youll want to pay attention to the latest data compiled by AAA. It reveals the best times to hit the roads during the upcoming holiday period and the times you should avoid being on the streets if you don’t want to experience the worst of the increased traffic congestion. Best times to hit the roads for the Thanksgiving travel period Except on Thanksgiving Day on Thursday, any other time that you travel during this Thanksgiving holiday period, you are likely to see more road congestion than usual. However, some times of the day are likely to see less travel congestion than others. Here are the best times to be in the car this Thanksgiving period if you want to avoid the worst of traffic, according to information compiled by AAA from transportation data and insights provider INRIX: Tuesday, November 25: Before 12 p.m. Wednesday, November 26: Before 11 a.m. Thursday, November 27 (Thanksgiving): Minimal Traffic Impact Expected Friday, November 28: Before 11 a.m. Saturday, November 29: Before 10 a.m. Sunday, November 30: Before 11 a.m. Monday, December 1: Before 8 p.m. Worst times to hit the roads for the Thanksgiving travel period INRIX says that Tuesday and Wednesday afternoon are expected to feature the heaviest congestion before Thanksgiving, and the Sunday after Thanksgiving is expected to see the heaviest traffic for return home journeys. The firm says that the worst times to be on the roads due to traffic congestion during the entire holiday period are as follows: Tuesday, November 25: 12 p.m.9 p.m. Wednesday, November 26: 11 a.m.8 p.m. Thursday, November 27 (Thanksgiving): Minimal Traffic Impact Expected Friday, November 28: 1 p.m.7 p.m. Saturday, November 29: 1 p.m.8 p.m. Sunday, November 30: 11 a.m.8 p.m. Monday, December 1: 12 p.m.8 p.m. More than 73 million people will travel by car this Thanksgiving AAA says 73.28 million people will take to the roads in cars this Thanksgiving holiday period. Thats 1.3 million more than the 71.99 million travelers who took to the roads during the 2024 Thanksgiving periodan increase of about 1.8%. It’s also 2.7 million more than those who took to the road in 2019, the last Thanksgiving before the outbreak of the pandemic. But travelers this week wont only be taking to the roads to get to and from their Thanksgiving festivities. AAA says that while automobile travel will make up 89.6% of all travel in America during this Thanksgiving holiday period, millions of Americans will also be taking to the skies and rails. The association expects 6.07 million travelers to take flights during this holiday period, and another 2.48 million to travel by other modes of transportation, including buses, trains, and cruise ships. In total, AAA expects the number of travelers in America to reach 81.83 million this Thanksgiving holiday travel period. Thats a 2% increase from last year, when 80.22 million people traveled. And its 5.2% more than the 77.78 travelers who took to the road, skies, and rails in 2019.
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E-Commerce
Another home furnishings retail chain has sought Chapter 11 bankruptcy protection as it deals with higher costs, reduced sales, a downturn in the housing market, and President Trump’s tariffs. American Signature Inc (ASI), parent company of American Signature Furniture and Value City Furniture, said Sunday that it has secured $50 million in debt financing as it seeks a buyer in an auction process. Here’s what to know. What is ASI and why is it bankrupt? Founded it 1948 and based in Columbus, Ohio, American Signature Inc is the parent company of two home furnishings retail chains: American Signature Furniture and Value City Furniture. Combined, the company has 120 stores across 17 states, it said in a court declaration over the weekend. The Value City brand is spread out across more states, with stores in Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, North Carolina, New York, Ohio, Pennsylvania, and West Virginia. American Signature, meanwhile, has locations in Delaware, Florida, Georgia, and Tennessee. Additionally, the company has distribution centers in Ohio, Georgia, Indiana, and California, two of which are owned and two of which are leased. ASI employs roughly 3,000 people. As for why it’s filing for bankruptcy, the retailer noted that it had experienced a period of rapid growth during the COVID-19 pandemic, but that sales have slipped over the last year. It cites a number of reasons for its dire straits, notably “one of the most severe housing market declines in recent history.” Macroeconomic factors including rising interest rates and inflation have further exasperated the situation for ASI, as have “newly established tariffs.” Which stores are closing as part of this process? The company said in its bankruptcy announcement that it expects stores to remain open throughout the process. However, in court filings it has identified five locations that it plans to close by early next year: Value City Furniture: 2320 Sardis Road North, Charlotte, NC 28227 American Signature Furniture: 1770 Galleria Blvd, Franklin, TN 37067 American Signature Furniture: 2130 Gallatin Pike North, Madison, TN 37115 American Signature Furniture: 2821 Wilma Rudolph Blvd, Clarksville, TN 37040 American Signature Furniture: 2075 Old Fort Parkway, Murfreesboro, TN 37129 Liquidation sales have already begun at these locations and are expected to be completed by the end of January 2026, court filings show. The company has enlisted SB360 Capital Partners to help with store closings and has warned that additional stores may close as the consultation process continues. It was not immediately clear how many job losses are expected. Fast Company reached out to ASI for additional details and will update this post if we hear back. What happens next? ASI has entered into an agreement with a so-called stalking horse bidder owned by the Schottenstein family, whom Columbus Monthly has referred to as the Ohio capital’s “last dynasty.” Holding company Schottenstein Stores Corporation also owns American Signature Inc, meaning the furniture chain could stay in the family. However, American Signature plans to seek a higher bidder during an auction process within about 45 days. American Signature’s bankruptcy follows a similar move by fellow home furnishings retailer At Home, which sought Chapter 11 protection in June and has closed a number of locations this year. This story is developing…
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E-Commerce
World shares and U.S. futures were mixed on Monday after Wall Street was buoyed by revived hopes for an interest rate cut by the Federal Reserve.The future for the S&P 500 was up 0.2% while that for the Dow Jones Industrial Average was nearly unchanged.Germany’s DAX gained 0.5% to 23,201.85, while the CAC 40 edged less than 0.1% lower to 7,978.77. Britain’s FTSE 100 inched up 0.1% to 9,547.77.Markets in Japan were closed for a holiday.Hong Kong’s benchmark, the Hang Seng, rose 2% to 25,716.50. It got a boost from a 4.7% gain for e-commerce giant Alibaba, which has reported strong demand for its updated Qwen AI app. Alibaba is due to report earnings on Tuesday.The Shanghai Composite index rose less than 0.1% to 3,836.77.Australia’s S&P/ASX 200 gained 1.3% to 8,525.10.In South Korea, the Kospi reversed early gains, falling 0.2% to 3,846.06 on heavy selling of automakers.Taiwan’s Taiex added 0.3% and the Sensex in India shed 0.4%.This week, U.S. markets will be closed Thursday for the Thanksgiving holiday, which will be followed by the Black Friday and Cyber Monday retail rushes.After last week’s ups and downs over AI and Nvidia, traders will focus more on “the backbone of U.S. growth, the consumer, whose spending still drives two-thirds of GDP,” Stephen Innes of SPI Asset Management said in a commentary.Data on the U.S. economy was scarce during the 6-week U.S. government shutdown, leaving investors struggling to parse trends in the economy.“This makes any sniff of holiday activity foot traffic, discount depth, card authorizations disproportionately important. In a data desert, even a puddle looks like a lake,” he said.On Friday, the S&P 500 gained 1% and the Dow climbed 1.1%. The Nasdaq composite rose 0.9%. Nearly 90% of stocks in the S&P 500 advanced.It was a fitting finish for a week that left the S&P 500 just 4.2% below its record but also forced investors to stomach the sharpest hour-to-hour swings since a sell-off in April. The jarring moves are testing investors following a monthslong and remarkably smooth surge for stocks, and they come down to two basic as-yet unanswered questions.Have prices for Nvidia, bitcoin and other stars of Wall Street shot too high? And is the Federal Reserve done with its cuts to interest rates, which would boost the economy and prices for investments?Markets took heart from a speech by the president of the Federal Reserve Bank of New York, John Williams, who told a conference in Chile that he sees “room for a further adjustment” to interest rates.Other Fed officials have argued against a December cut, saying inflation is still too high.In the bond market, Treasury yields eased Friday on hopes for cuts from the Fed. Traders are now betting on a nearly 72% probability of a December cut, up sharply from 39% a day before, according to data from CME Group. That helped send the yield on the 10-year Treasury to 4.06% from 4.10% late Thursday.In other dealings early Monday, U.S. benchmark crude oil lost 43 cents to $57.63 a barrel. Brent crude, the international standard, gave up 38 cents to $61.56 a barrel.The U.S. dollar rose to 156.75 Japanese yen from 156.47 yen. The euro climbed to $1.1537 from $1.1516.Bitcoin was up 1.6%, near $86,000. On Friday, it briefly plunged below $81,000 before pulling back toward $85,000. That’s down from nearly $125,000 last month and brought it back to where it was in April, when markets were shaking because of President Donald Trump’s higher tariffs. Elaine Kurtenbach, AP Business Writer
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E-Commerce
Hello and welcome to Modern CEO! Im Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning. Being a life sciences CEO is not for the faint of heart. Drug discovery and patent approvals are costly and time-consuming, and even if an executive can steer a company to clinical trials, theres a very small chance the product will be commercialized. One study says that 90% of clinical drug development fails because the treatment didnt have its intended impact, had the wrong formulations, or harmed patients. You have a business challenge, a science challenge, a clinical trial challenge, and a regulatory challenge, says Kevin Conroy, CEO of the colorectal cancer screening company Exact Sciences. Its like solving a complex puzzle, and theres simply no guarantee of success. When companies do solve that puzzle, the rewards can be huge: As Modern CEO went to press, Exact Sciences announced it was selling to Abbott in a deal valued at $21 billion. Still, biotech and health technology companies are now confronting an additional burden: simmering science skepticism. Pew Research Center found that in 2024, 76% of Americans believed that scientists act in the publics best interest, up slightly from 2023 but down 10 points from pre-pandemic levels. A new survey from Pew shows that 24% of parents of school-age children question whether vaccines have undergone enough safety testing. Rebuilding trust in science Some lawmakers are fanning the flames. Health and Human Services secretary Robert F. Kennedy Jr. has called for changes in the ways vaccines are tested. The White House has cut budgets at the National Institutes of Health and the National Science Foundation, and moved to terminate federal funding to universities, all of which participate in the funding of medical and science research. Conroy says the current environment is a call to action to the biosciences industry to help rebuild trust with the public and lawmakers. How can we in this field show success that brings back a stronger belief in science, in data, in clinical studies, in evidence generation? he asks. I think its our responsibility to do that. According to Conroy, Exact Sciences isnt facing any societal or political headwinds. It makes a colon cancer test (if youre a certain age, youve probably been served ads for its Cologuard Kit) that will screen five million people for cancer this year. Science skepticism hasnt touched cancer screening, he says. People on the left and right are touched equally by cancer. Still, Exact Sciences and other science companies have benefited from an ecosystem of government-funded research, rigorous approvals, and endorsements that make the U.S. a biotech innovation powerhouse. Exact Sciences was founded in 1995 by an engineer who wanted to develop an alternative to colonoscopies, but the company struggled for years to develop a test. Conroy joined in 2009 after meeting with David Ahlquist, a Mayo Clinic physician who had spent 20 years researching noninvasive colon cancer detectionresearch funded by the National Institutes of Health, the National Cancer Institute, and the Mayo Clinic College of Medicine and Science. Exact Sciences collaborated with Ahlquist on an approach that tests a patients stool for abnormal DNA or blood cells that might indicate the presence of colon cancer. Cologuard received FDA approval in 2014, after a huge clinical trial involving 10,000 patients; that same year the Centers for Medicare and Medicaid Services said it intended to cover the test, and the American Cancer Society included the test in its colon cancer screening guidelinesa key recommendation that helped build public trust in the at-home kit. Exact Sciences would not be here without federally funded research at the Mayo Clinic, Conroy says. Follow the data Conroy notes that all businesses can gain from a scientific approachrunning experiments, conceding when something doesnt work (even if youve invested time and money in the research), and following the data. At Exact Sciences, such rigor extends beyond the lab. Before the company launched its kits, the team tested two different product designs for sample collectiona scoop and a container. The team thought consumers would favor the scoop, but research showed 85% of users preferred the container. We would have made a big mistake if we had trusted our gut, Conroy says. A lot of times youre so passionate as a CEO, you skip all of those steps and just bulldoze your way toward the answer youd like to see. Im as guilty of that as the next CEO. I asked Conroy how biotech executives can help restore trust in science and rally support for the broader system of grants and research funding now under fire. He notes that he travels to Washington from Exact Sciences headquarters in Madison, Wisconsin, every quarter to meet with lawmakers, largely to advocate for early detection of diseases but also to talk about innovation and discovery. Every CEO in this field should be doing the same thing. Its too important for Americas competitiveness, he says. Deadline extended Were extending the deadline for Modern CEO of the Year nominations by a few days. If you or someone you know has had a standout 2025, please fill out this nomination form by November 28. Well name the Modern CEO of the Year on December 29. Read more: science in focus This Sam Altmanbacked CEO is using AI to get drugs to market faster The most innovative biotech companies of 2025 Why Jennifer Doudna is one of the 10 most innovative people of the last 10 years
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E-Commerce
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