Lunchtime musings: think about the themes and analysis discussed here... it's not just about the egg market, but more broadly...
1) how industries might have solutions to a problem that does NOT get adopted (here: vaccines, containment, etc)...
2) barring a requirement to do so, industries might have other, less obvious reasons for not adopting what might seem to be a clear solution (here: vaccines are hard to administer to large flocks and could cause problems for exports where vaccines might not be accepted... not sure I get that roadblock as presence of avian flu often leads to countries banning imports from those countries)... and
3) solutions might be more complicated in practice than they seem (here: well, sure just keep the flocks indoors or away from wild geese/ducks... but then be sure that workers aren't also tracking the disease in on their boots/clothes)...
4) the cost for a solution can be complex and involve tradeoffs (here: culling a flock might be seen as easier and lower cost than vaccines or containment processes.... even if they have to rebuild their flocks and that takes time)...
5) adjacent industries might have their own issues... (here: the chicken broiler industry is concerned about the cost to them for any solution developed for the egg industry when they say they have been less affected by the avian flu)
6) shortages can be exacerbated by stockpiling... it's not always that there isn't enough to go around, but if people buy more than they need (panic buying) they can create a shortage
From an office building in New Hampshire, roughly a dozen people facilitate the trading of billions of eggs a year, a task that shapes what Americans pay per dozen at the supermarket or for omelets at diners.
The Egg Clearinghouse, or ECI, is little known outside the industry: It operates an online marketplace that allows participants to place bids on eggs listed for sale and see the results of trades. Only ECI members—farmers and egg buyers—are allowed to trade.
Lately, there are a lot more buyers than sellers using the so-called “Wall Street of Eggs” with bird flu roiling the poultry market.
The development brings a close to a challenging journey, which included numerous leadership changes, choppy sales, and a plummeting share value.
EV firms that went public during the pandemic, promising to revolutionize the sector, such as Fisker, Proterr, and Lordstown Motors have filed for bankruptcy in recent years as funding for the capital-intensive operations dried up due to high interest rates and flagging demand.
Nikola said it decided to initiate a sale process of its assets to maximize value and ensure an orderly wind down.
The firm will continue some operations for trucks in the field and some hydrogen-fueling operations through the end of March.
The company listed assets of between $500 million and $1 billion, and estimated its liabilities were between $1 billion and $10 billion, according to a court filing.
Phoenix, Arizona-based Nikola was founded more than a decade ago. It went public in June 2020 and delivered its first vehicle in the December of the following year.
• 1993: 22.9 million viewers
• 2024: 5.4 million viewers
Many people have ideas on how to fix this – USA vs. the World, East vs. West with NBA Finals home-court advantage on the line, etc. — but the NBA really just needs to reset expectations.
All-Star Weekend should celebrate the players and be an entertainment experience for the fans — you don’t need 20 million viewers to accomplish that.
Unfortunately, the program is now at risk of being shut down by the federal government. I wish MTA all the luck in their fight to protect this demonstrably successful and publicly beneficial transportation program.
Chipotle Mexican Grill Inc. is leaning on an artificial intelligence program called Ava Cado to speed up its hiring process as it launches its largest-ever spring recruitment effort, the restaurant chain said Wednesday.
The AI program featured on Chipotle’s recruitment website has shortened the average time it takes a job seeker to fill out an application and has helped the restaurant chain increase its application completion rate to 85% from 50%, the company said.
Chipotle is planning to hire 20,000 seasonal employees this year, the biggest number to date, ahead of its hiring targets of 19,000 workers in 2024 and 15,000 in 2023.
Chipotle
CMG
Applicants will likely have a conversation with the AI-generated “Ava Cado,” who introduces herself as a “virtual team member.” Visitors to the company’s jobs website are greeted by the avatar, who says, “I can help you search and apply for opportunities or you can ask me anything about our business, culture, team, and more.
“Ava Cado has made the hiring process more efficient for Chipotle’s restaurant teams,” the company said, adding that the average time it takes a candidate to complete their application and start work has dropped to four days from 12 days.
A Chipotle spokesperson did not comment on how much Chipotle has spent to create the program.
Chipotle initially announced its use of AI chat for hiring in October, in collaboration with privately held software company Paradox Inc., a maker of AI assistants for corporate hiring that launched in 2016.
Paradox-powered AI assistants help candidates schedule job interviews and remind them about upcoming meetings and onboarding tasks.
Paradox’s customer list of 1,000 also includes General Motors Co.
, FedEx Corp. , McDonald’s Corp. , Shake Shack Inc. , Pfizer Inc. and Kraft Heinz Co. .General Motors has estimated that Paradox has generated $2 million in annual cost savings, according tothe software company’s website.
Chipotle is advertising its spring job openings in three TV commercials, featuring a general manager from Portland, Ore.; a certified training manager at a restaurant in Phoenix; and a general manager based in Texas.
Chipotle said it promoted 23,000 team members in 2024, with 85% of its restaurant-management positions filled from within the company. It also noted that five of Chipotle’s 11 regional vice presidents started their careers as crew members.
Chipotle is also aiming to increase its restaurant footprint to 7,000.
The restaurant chain books the most business during the period that includes the college basketball season and the Cinco de Mayo holiday.
Chipotle’s stock was down 2.1% on Wednesday. The stock has fallen 11.5% so far in 2025, while the S&P 500
SPX
The IRS will lay off roughly 7,000 workers in Washington and around the country beginning Thursday, a person familiar with the plans told the Associated Press.
The layoffs affect probationary employees with roughly one year or less of service at the agency and largely include workers in compliance departments, according to the person, who was not authorized to disclose the plans and spoke on condition of anonymity Wednesday. Compliance work includes ensuring that taxpayers are abiding by the tax code, filing their returns, and paying their taxes, among other duties.
The layoffs are part of the Trump administration’s intensified efforts to shrink the size of the federal workforce through the Department of Government Efficiency by ordering agencies to lay off nearly all probationary employees who have not yet gained civil service protection. They come despite IRS employees involved in the 2025 tax season being told earlier this month that they would not be allowed to accept a buyout offer from the Trump administration until mid-May, after the taxpayer filing deadline.
It’s unclear how the layoffs may affect tax-collection services this year. As the nation’s revenue collector, the IRS was tasked during the Biden administration with targeting high-wealth tax evaders for an additional stream of income to the U.S., which is $36 trillion in debt. By the end of 2024, the IRS collected over $1.3 billion in back taxes from rich tax dodgers.
The IRS has roughly 90,000 employees total across the United States, according to the latest IRS data. Racial minorities make up 56% of the IRS workforce, and women represent 65%.
In addition to the planned layoffs, the Trump administration intends to lend IRS workers to the Department of Homeland Security to assist with immigration enforcement. In a letter sent earlier this month, DHS Secretary Kristi Noem asked Treasury Secretary Scott Bessent to borrow IRS workers to help with ongoing immigration crackdown efforts.
Representatives from the IRS and U.S. Treasury did not respond to requests for comment from the AP.
Microsoft has unveiled its first quantum computing chip, calling it a breakthrough that could solve “industrial-scale problems” in years rather than decades. The LinkedIn parent says the chip, Majorana 1, is powered by the world’s first so-called topoconductor, which is described as a new class of material that helps advance quantum technology. While artificial intelligence currently dominates the tech landscape, major companies are also racing to develop quantum computers: Google in December announced its own quantum chip, Willow.
- Microsoft on Wednesday also announced a generative AI tool for its Xbox video game device that can design and animate scenes that would traditionally need human programming.
- The AI model, Muse, is trained on data gathered from Xbox gamers and their controller usage.