 |
|
|
|||||
Coal power is a dirtier energy source than renewables like wind and solar. But even for those Americans who don’t care about climate, its also a more expensive energy sourceand the economics of using it as a power source just keep getting worse. As President Donald Trump tries to bolster the coal industry by ordering shuttered coal power plants to reopen, that means everyday Americans are likely to see their electricity bills spike. Coal power was 28% more expensive in 2024 than it was in 2021, according to a new analysis by Energy Innovation, a San Francisco-based climate research firm. That means the cost of generating power with coal is rising faster than inflation, which increased by 16% over the same time period. The economics of coal have been bad for some time. A 2023 Energy Innovation report found that 99% of the existing coal plants across the U.S. are more expensive to run than to replace with renewables like wind, solar, or energy storage. In the past four years alone, more than 100 coal-fired units have closed for economic reasons. And yet Trump has ordered coal plants set for retirement to keep operating past their planned shut-down dates. The J.H. Campbell power plant in Michigan, for example, was scheduled to close May 31, but Trump ordered it to remain open. These orders to prop up the coal industry ignore the economic fundamentals underpinning coals decline, Energy Innovations most recent report reads. And that affects Americans across the country: If coal plants are being kept online that would otherwise be retired, the cost of running those plants is going to be passed on to the electricity consumer, says Michelle Solomon, a manager of the electricity program at the firm and the reports author Electricity rates are on the rise across the country, but states that rely heavily on coal, like West Virginia and Kentucky, are seeing even faster increases. Between 2021 and 2024as 95% of the countrys coal power plants have gotten more expensive to runelectricity rates in West Virginia have gone up 24%. (Since 2022, residential electricity prices have increased 13% on average across the country.) Coal is getting more expensive for a few reasons. In many areas, easy access to coal is gone, because its already been mined for so long. That means it gets more expensive to continue mining for coal, Solomon says. Coal plants are also aging, and so they’re more costly to maintain. Per Energy Innovation, the average age of U.S. coal plants is 43 years old, though multiple plants are pushing 70. These factors also affect Trumps decision to keep operating coal plants that were set for retirement. Utilities have already planned for those plants to shutter, meaning they have likely burned down their stockpiles of coal and may have even deferred maintenance, since they wouldnt be kept running. Rushing to buy coal or scrambling to complete last-minute maintenance could add even more costs. Renewables have seen some price volatility with inflation too, Solomon says, and this most recent Energy Innovation report didnt update renewables analysis. But its clear the coal fleet is getting significantly more expensive. And given that coal has already been more expensive than renewables for years, “its fair to say that the economics [of coal] continue to get worse compared to renewables, she adds. Its hard to say exactly how much rising coal prices will affect someones electricity bills, especially when it comes to keeping open planned-for-retirement coal plants. But typically, the costs of operating these plants are passed on to consumers, Solomon says. The coal fleet, because its more expensive than inflation, is putting inflationary pressure on U.S. electricity prices. So if the administration’s goal is to make energy cheaper and to bring down inflation, keeping old coal plants running is completely opposite to what they should be doing, Solomon says.
Category:
E-Commerce
The world is awash in nonalcoholic beer right now. Athletic led the category with some $95.8 million in sales in 2024, followed by the legacy barons Heineken ($89.45 million), Budweiser ($62.37 million), Busch ($37.08 million), and Corona ($28.6 million). As Beverage Industry reports, 0% beer is predicted to continue growing by double digits this year, so it comes as no surprise that Modelowhich overtook Bud Light as the U.S.s leading beer in 2023is getting into the game. What does come as a surprise is the logo of its new alcohol-free beer. Some brands, like Heineken, simply made a few tweaks and added a 0.0. Others, like Budweiser, stripped the can of color (conceptually fun!) and added a Zero. But none of them were as perfectly primed to go NA as Modelo.[Image: Modelo]The brands new logo is as serendipitous as it is straightforward, but no less sublime. It almost feels like an intervention by the design gods, perhaps not unlike the FedEx arrow. And thats likely why there was no debate when Gut Design presented the work to Modelo. It was an instant go.You cannot unsee that, right? says Murilo Melo, Guts global head of design. They said . . . we dont have to see anything else. It was kind of a magic moment.[Image: Modelo]Model0%Around six months ago, Modelo brought the Gut agency on to oversee the strategy and branding of what would become Model0% Dorada and Model0% Negra, which just launched in Mexico. The company was focused on creating a nonalcoholic beer that tasted like beeror, rather, a nonalcoholic Modelo that tasted like Modelo, which the brand says it achieved via a proprietary yeast formula.When it came to the branding, Melo says Modelo needed a system that would work across multiple flavors and styles of its beer to prime it for the future. Given the companys success and its 100-plus-year history, there was an intention to honor the legacy of the brand, Melo says. So what we tried the most was to preserve the equity and everything the brand already had.They experimented with various concepts and hooks. But then, in an informal Gut team chat in WhatsApp, someone posted Model0%.[Image: Modelo]When we did that, we said, Whoa. Theres something here. Melo adds that his team has a mantra to keep things simple and powerful (we always try, but its quite hard)and, well, they had stumbled upon a mark that visually signifies a nonalcoholic Modelo that tastes like the regular Modelo fans love. Gut built out a system for the brand that can scale across new NA products, featuring secondary typeface Rauschen B (a funky, unexpected choice), a 0% label at the top of the bottle sporting the o of the legacy logo, and more. The bottle does away with the lions, banner, and other elements from the original. But look closely at that o, and youll indeed find some of the parallel line motifs from the full-strength formula.Ultimately, it all yielded that immediate green light from Modelo.Everybody was so on board to respect the visual legacy of the beer, and open to something new, Melo says. It was a perfect match.How often does that happen?Less than I would like it to, he says with a laugh.
Category:
E-Commerce
Standard financial advice starts with the assumption that 40-year-old investment newbies are getting a late start. So what if you’re a card-carrying member of AARP without a portfolio? How do you start investing when youre in your 60s? Recently, a family friend reached out for some advice on how to start investing for retirement. At 61 years old, he was afraid it was useless because he had heard the standard tut-tutting about how he should have started earlier. Once I got over my shock at his age (because that means Ive reached my late 40s and I have no idea how that happened), I assured him that its not too late. Just because a lot of retirement math starts with the wonders of compound interest over time doesnt mean your retirement is doomed. Becoming a first-time investor in your 60s may feel scary, but its the best way to ensure you have a financially secure retirementunless you can get your hands on some kind of time traveling phone booth. Heres what you need to know about beginning your investment journey long after hitting the big 60. Start setting money aside right away And when I say right away, I mean right this minute. Putting money aside for retirement is the kind of important-but-not-urgent task that is very easy to put off, which is why 20% of Americans over the age of 50 have nothing set aside for retirement, according to a 2024 AARP survey. If you already have an IRA, 401(k), or other retirement vehicle, transfer whatever amount you can afford today, and set up an automatic contribution to come out of every paycheck. If you dont already have a retirement account, take a half hour today to set one up with a reputable brokerage like Vanguard, Fidelity, or Schwab. Each of these brokerage firms offer retirement accounts, education, and tools for newbie investors. Additionally, each major brokerage has customer service available by phone and online chat that can walk you through the process of opening an account and setting up a recurring contribution. Asset allocation in your 60s Of course, its not enough to set up your retirement account and your contributions. You will also have to decide how to invest your contributions, which feels a little more complicated in your 60s than it is for younger investors. Thats because the traditional advice for retirement investors is to buy-and-hold index funds, allowing time and compound interest to perform their magic on your money. But sixtysomethings dont have the same luxury of time enjoyed by whippersnappers in their 20s, 30s, 40s, and 50s. Except, thats not necessarily true, is it? The Social Security Administration estimates that a current 60-year-old man has a life expectancy of 80 and a 60-year-old woman has one of nearly age 84which means investors in their 60s can and should invest some portion of their money for a longer time horizon. Older first-time investors need to allocate their retirement money the same way every investor doesby when they expect to need it. This is often referred to as the bucket method, and is often broken down into three investment buckets. Short-term investments: Since you will use it for living expenses in the first one to five years after you retire, you want this money to be invested in assets that are reasonably stable and liquid. Medium-term investments: This money will provide you with retirement income for years six to 15, so youll invest it in slightly more aggressive investments that still aim to protect your principal. Long-term investments: You wont plan to touch this money until at least 16 years in the future, so you can afford to invest in higher-risk-higher-return investments, giving you time to ride out market volatility. Put away as much as you can While your future self will be glad for whatever amount you can put aside for retirement today, more is definitely better in this scenario. Luckily, the IRS agrees with the importance of saving for retirement. Contributions to traditional IRA and 401(k) accounts are tax-deductible, meaning the money you put in those accounts lower the amount of your taxable income for the year. The IRS allows the gray-haired set to make tax-advantaged catch-up retirement contributions to IRA and 401(k) accounts. For 2025, the IRA contribution limit is $7,000 for anyone under the age of 50, and $8,000 for anyone over the age of 50. For 401(k) accounts, the contribution limit is $23,500 for those under age 50, $31,000 for anyone between the ages of 51 and 59, $34,750 for those between the ages of 60 and 63, and it drops down to $31,000 to anyone 64 or older, because the IRS is nothing if not confusing. In 2025, if you areYou can contribute this much to an IRAYou can contribute this much to a 401(k)Under 50$7,000$23,50050 to 59 years old$8,000$31,00060 to 63 years old$8,000$34,50064+ years old$8,000$31,000 Find other sources of investment money If every dollar is spoken for before your paycheck even hits your account, the idea of maximizing your retirement account contributions may feel quaint. So its helpful to start identifying some other sources of investment money. You may have more cash available to invest than you realize. Check for old 401(k) accounts Once youre blowing out 60 candles on your birthday cake, you likely have multiple careers under your belt, let alone shorter-term jobs youve forgotten about. You may have unclaimed retirement benefits gathering dust. A quick search of the National Registry of Unclaimed Retirement Benefits can let you know if youve got some retirement money languishing in an old account. See if you have unclaimed funds An estimated one out of every seven Americans is owed unclaimed property totaling $70 billion as of 2023. You can search for unclaimed funds by visiting the National Assoiation of Unclaimed Property Administrators and searching any states where you have lived. Sell things you no longer want or need You probably have a lifetimes worth of accumulated clutter, some of which may actually be worth some money. Cleaning out your stuff to find hidden gems will not only help you pad your retirement accounts, but it will also help you with any downsizing you may want to do before retirement. But DO NOT invest your Social Security benefits If youre looking for other sources of investment money, taking your Social Security benefits as soon as you turn 62 and investing that money may seem like a no-brainer. But it is nothing short of a terrible idea. Thats because your Social Security benefits are as close to a financial guarantee as youre going to get in this world. Your Social Security benefits are backed by the full faith and credit of the United States governmentwhich, admittedly, has lost a little of its luster and reputation recently. But you can absolutely count on the monthly amount promised to you, the approximate 8% per year delayed retirement credit for waiting to take your benefits, and the annual cost of living adjustment. No investment can promise any of those things. Investing your Social Security benefits means you could lose that money. Taking your benefits as of age 62 means you will lose out on the guaranteed delayed retirement credit of 8% per year. And no investment can guarantee an annual return of 8%, let alone a cost of living adjustment to account for inflation. If you are able to delay taking your Social Security benefits, it is generally best to wait to take them until you have reached age 70 so you can maximize your monthly benefit amount. Other than yesterday, the best time is now There is no point in beating yourself up with coulda-shoulda-woulda thinking if you get started investing later in life. Its counterproductive to ruminate over things you cant change, especially since theres still a lot of good you can do as a 60-something newbie investor. The first thing to do is start right away. If you have a retirement plan, move money into it today and set up a recurring contribution. If you dont, open one with a reputable brokerage firm today, taking advantage of the customer service phone or chat options to help you lower the barrier to entry. Once you have the account and automatic transfer in place, plan your asset allocation. Even though you don’t have the luxury of time like a young investor, you can still set up a three-tiered investing strategy. Your short-term, stable investments are for the money youll need in the next one to five years. The medium-term, slightly more aggressive investments will be accessed in years six to 15. And your long-term, higher-risk, higher-return investments will be left alone until year 16 and beyond. Its important to put aside as much money as you can. If youre able to maximize your 2025 tax-deductible IRA and 401(k) contributions, that will lower your tax burden, which may help you afford the contributions. But you could also look for other sources of investment money, such as searching for forgotten retirement accounts and unclaimed funds, or by selling off some of your accumulated stuff as part of a downsizing effort. But do not use your Social Security benefit as a source of investment money. Thats trading a guarantee for a risk.
Category:
E-Commerce
The United States has a well-developed digital economy, encompassing about 18% of its total economy, according to several sources and research from the International Data Center Authority (IDCA). This is above the world average of 15%. But the U.S. can always do better. The IDCA defines a digital economy as representing all economic activities that are reliant on or significantly enhanced by the use of digital technologies, including digital infrastructure, AI, and digital services. Having worked with hundreds of public data sources and its own surveys to create its Digital Readiness of Nations Index, the IDCAs Global Digital Economy Report (2025) is a unique deep dive into the current development of the world’s digital economies. Digging Into Digital Economy Data This Index places the digital economies of the nations of the world into four categories: Phase III (Advanced), Phase II (Significantly Developed), Phase I (Early-Stage), and a Pre-Phase. It examines all the data sets across four broad categorieseconomy, environment, social, and governanceto rank the nations on a scale of 0 to 100. The Index considers relative progress, that is, how well each nation has developed its digital economy with respect to its economic resources and social development. Doing this shows only six nations that are currently in an advanced, Phase III stage of development. Surprisingly enough, despite its economic size and potential, the United States is not one of them. In fact, none of the world’s G7 or even G20 nations have reached this advanced status, either. Today, Phase III has been accomplished only by the small nations of Scandinavia, Finland, and Switzerland. An aggressive commitment to the use of sustainable energy, relative income parity, and strong government institutions are all characteristics of this group. The U.S. Is Not the Exemplar So far the largest nations of the world, including the United States, have not been able to match these smaller countries. The U.S. and its G7 cohort are instead ensconced among a group of a few dozen nations within the Phase II group, all of which show significantly developed digital economies. Digging into the data finds that within this group, the U.S. lags Canada, France, Germany, Japan, South Korea and the U.K. in its commitment to sustainable energy, income parity, and strong government institutions. Expanding the focus to the G20 group of nations finds more diffuse progress. Because membership in the G20 club is simply based on the size of a nation’s overall economy, not its relative development or wealth, there are several still-developing nations in the G20, including Brazil, China, India, Indonesia, Mexico, and South Africa. There are also the troubled economies of Argentina and Russia in this group. All the nations cited here are in Phase I, still at an early stage of their digital economies. It must be noted, though, that Brazil, China, and to some degree India, continue to make considerable progress toward fully developed economies and a higher stage of digital economy development. So despite leading the world in the size of its overall economy and digital economy, having reached its status on the back of compounded historic economic dominance, the U.S. is not truly an exemplar for the world. What can the nation do to improve its standing? Create a national strategy and policies American business and government leaders pride themselves on how the U.S. has long been the world’s capital of innovation and IT development without the help of national strategies or focused policies. But ad hoc development on the scale envisioned for the AI age will end up being more chaoticand less effectivethan necessary. The U.S. does not need to reach EU levels of regulation and enforcement, but its federal government can do more to meet today’s Sputnik challenge, or watch China and the EU run away with leadership of AI and digital economies. Build more sustainable energy Renewable energy delivers 20.3% of the electricity consumed within the United States, below the world average of 30%. Nuclear energy adds another 18.2% to the U.S. grid, which technically brings it close to the world average for sustainable energy. But this is not good enough. The U.S. remains the world’s second-largest producer of greenhouse gases and lacks a true commitment to sustainable energy progress. Focus on workforce development Even though the U.S. has the world’s largest IT-skilled workforce, it needs to upskill and retrain millions of people to prepare for the skills demanded by the continued growth of AI development and AI-driven data centers. The IDCAs own report recently found a workforce deficit of over 100 million IT workers globally. There are already several hundred billion dollars worth of large, advanced AI data centers being planned in the U.S., but without a workforce adequate to the challenge, these new facilities will be underused and mismanaged. Tapping into a holistic and dynamic set of professional training programs is key here. Ensure smart buildouts More than 40% of the world’s data centers are located in the U.S., and projections show that this dominance will continue. But it will be a grave mistake to build data centers along the same old, general purpose, inefficient lines. The new data centers, whether a small 10-megawatt building or sprawling gigawatt-sized campus, must all be built to suit, with the most efficient energy management and computational efficiency available. Developers must not only be smart about building them but also focus on smart environments that support more robotic manufacturing, autonomous transportation, sensor-driven energy management, and AI-driven services to businesses and consumers. A high bar In summary, it would be unfair to say that the U.S. significantly lags the G7, or any other group of nations, in the development of its digital economy. The situation is not dire, and the U.S. has not already given away the game. In fact, we see an influx of announcements for data centers and AI investments committing to the U.S. economy. However, due to its sheer size and potential, what might be great for some countries is considered poorly accomplished by our benchmark. The world’s largest economic power needs to judge itself solely by the standards of what it can accomplish, comparisons be damned. U.S. government and business leaders must work much harder to deliver on the nation’s potential.
Category:
E-Commerce
Tom Brady’s post-football career has been as methodical as his two-minute drill, and arguably more lucrative. The seven-time Super Bowl champion has systematically built a business empire spanning wellness (TB12), apparel (Brady Brand), and media (Religion of Sports), among other things, along with ownership stakes in the Las Vegas Raiders and Birmingham City FC. And then, of course, theres the 10-year, $375 million deal he signed in 2024 to serve as lead NFL analyst for Fox Sports. Now he’s adding another vertical to his portfolio: organic snacks. GOAT Gummies, Brady’s latest venture, launched this week exclusively with instant-delivery company Gopuff. The organic, vegan gummies represent Brady’s characteristic obsession with optimizationthis time applied to what he calls “better for you” indulgences. Brady, who is also an investor in Gopuff, worked directly with the product team to refine the gummies’ flavors, perfect their textures, and ensure the product aligns with his TB12 philosophy of plant-based, organic nutrition that made him a freakishly effective athlete well into his forties. Brady sat down with Fast Company to discuss his latest venture, his new life as an investor and entrepreneur, and his strategic process for vetting new opportunities. The interview has been edited and condensed. First things first: Why gummies, and why Gopuff? How did this collaboration come about? I originally started using Gopuff when I moved to Florida and got introduced to the two guys who started the company on a Zoom call during COVID. I love what they’ve created, and now they’ve become friends. Ive learned that this business is crowded and you need things that really cut through, and I like partnering with smart, forward-thinking people, and everyone at Gopuff is that. So we said we wanted to create some products, I looked at things that I enjoy, and I enjoy gummies. I’m very intentional about what I put in my body, even in retirement. So it came down to creating a healthier option. What can my kids eat? What can their friends eat when they come over? So we started with these gummies. Hopefully, there will be other products in the future. How has your approach to evaluating business opportunities evolved, and whats your due diligence process now? I still love sports. I still love hard work and that “no take no prisoners” mindset. I love that. But I had to create that specific lifestyle because I was a professional athlete and my body was my asset. Now Ive realized that not a lot of people want to live the way I live. So now I want to make people just a little bit better. How can we make things that are a little bit better for you, that taste good, that are sustainable? If you want to be a little bit healthier, let me give you options. If you want to have a better health productwhether that’s something to drink or something to eatwe’re going to do that. What do you remember from your Merrill Lynch internships during college, and how did that early business experience shape your philosophy as a businessman and entrepreneur? I worked 10-hour days at Merrill Lynch. I’d sit in on financial product meetings and I would make mock portfolios and track them. Every day, I thought, Man, I’m going to get into business if this football thing doesn’t work out. I do believe that if I were focused on business 23 years ago, I could have been pretty good at that as well. I’m very fortunate that football worked out, but I think the same traits really apply. Youve got to work hard. You need discipline. Youve got to double down on the fundamentals. Youve got to have the right amount of EQ and IQ. You have to be resilient. Youve got to find ways to outlast the competition. That’s sports, but that’s also business. What are the biggest lessons you’ve learned about entrepreneurship from the many successful people you’ve met over 25 years? I feel like I’ve been fortunate over a long period of time to meet so many different people from so many walks of life. I love people who have visions and operate with great communication. I think all great entrepreneurs are great teachers who make things as simple as possible for people to understand. It’s easy to make things complicated. The best entrepreneurs make things simple. What’s been the most challenging part of transitioning from football to managing multiple business ventures in retirement? I think organizing the day and being very efficient with the day. When you don’t have the structure of the game, it’s a little more challenging. Being a couple of years out now from playing, I have a little bit better structure. I’m going to build out an office. Ive got a great team of people who can actualize a lot of the vision that we set forth. Whats constantly in my brain is . . . trying to make things simpler for myself, too. Because now in broadcasting, when youve got 30 million people watching, you need to be as simple as possible, but you still need to educate. The entrepreneurial mindset helps because it really comes down to, How can I explain things in the simplest way possible to get my point across? If you were starting over today as an entrepreneur, where do you see the biggest opportunity for impact? I think I can make the most impact in leadership training, mentality, overcoming adversity, teaching resilienceall the things that make people successful. How do you find success in your life? Well, first you have to visualize it and you have to create a plan. You need to have discipline around that. How can we get people with great mindsets who are resilient in whatever business they’re in to overcome whatever adversities they’re going to face so that they can actualize their potential? How can they reach their dreams, and how can I play a role in helping them do that? One of my idols was Steve Young, and he always says, “Make sure you pay it forward.” Ive been so fortunate to have people come into my life to teach me at very important times. So now it’s like, How do I take the lessons I learned and give back? How do I pay it forward? Thats what I love. Whats the message you teach when youre out there paying it forward? I have a certain standard, and it’s no bullshit. People don’t get better by doing nothing. You don’t sit around your couch, wasting your time, bitching about other people. That ain’t gonna work. Get off your ass. Go do something. Find something you love to do, and work hard at it. No excuses, no bullshit. Keep grinding. Find a way.
Category:
E-Commerce
Sites : [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] [79] next »