A sibling battle is brewing at a major luxury company...
January 12, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Revela]( Good morning. Itâs once again time to revive the quarterly practice of lighting $50 on fire because the lottery jackpot got high enough to make it seem like a smart idea. After 25 whiffs over three months of drawings, the Mega Millions jackpot has risen to $1.35 billion, which is good for the second-largest Mega Millions jackpot in history. The next drawing will be held Friday night. âJamie Wilde, Max Knoblauch, Matty Merritt, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 10,931.67 +1.76% S&P 3,969.61 +1.28% Dow 33,973.01 +0.80% 10-Year 3.541% -8.0 bps Bitcoin $17,554.91 +0.01% Bed Bath & Beyond $3.49 +68.60% *Stock data as of market close, cryptocurrency data as of 4:00am ET. [Here's what these numbers mean.]( - Markets: Stocks kept the good 2023 vibes going yesterday, [rising]( as investors bet that this morningâs consumer price index release will show inflation cooling down. But not all the vibes made sense: Bed Bath & Beyond, which is considering bankruptcy and reported dismal quarterly sales earlier this week, led a meme stock rally like it was 2021, with GameStop and AMC also notching gains. Â TRAVEL [404: Modern air travel tech not found](
[A plane chained to an old computer. ]( Francis Scialabba The FAA created air travel chaos yesterday that highlights outdated tech in aviation again after a key bit of its software glitched harder than a Grand Theft Auto NPC. The agency grounded all flights in the morning over a problem it believes was caused by a âdamaged database file,â renewing concerns that US travel infrastructure desperately needs an update. This grounding is way bigger than when your parents realized the âcartoonsâ you rented from Blockbuster were hyperviolent anime: It may be the first time all flights have been ordered to stay on the tarmac since 9/11. Departures resumed at 9am ET, but as of yesterday evening, 10,000+ US flights were delayed and 1,300 were canceled as airlines struggled to sort out the [morning mayhem](. Delays and cancellations could go on for daysâ¦meaning this MLK weekend could give deja vu of late December, when Southwest had to cancel thousands of flights after its software couldnât handle weather conditions disrupting its itineraries. What exactly caused this mess? The FAA system that went down was created over 75 years ago. It's called NOTAM (formerly âNotice to Airmen,â now âNotice to Air Missionsâ), and it alerts pilots to any hazards along their route and at their destinationâsuch as flocks of birds and icy runways. It was [rebooted]( yesterday morning after some corrupted data was discovered, and it took longer than AOL dial-up to get back online. The government system has been criticized for *surprise, surprise* not being very modern, and the UNâs aviation body has been pushing to bring NOTAM into the 21st century. A single briefing produced by the system can consist of up to 200 pages of alerts, and pilots have to review the whole document before takeoff. Looking aheadâ¦the FAA hasn't determined how the damaged file got there yet (though it said it does not appear a cyber attack was involved), but, whatever occurred, the outage signals that the systemâs outdatedness may run deeper than its HTML. âAmericaâs transportation network desperately needs significant upgrades,â Geoff Freeman, the US Travel Association president, said. He [called on]( policymakers to âmodernize our vital air travel infrastructure.ââJW    TOGETHER WITH REVELA [Hereâs to a year of (hair) growth](
[Revela]( Itâs the time of year when âgrowthâ and âchangeâ are the words on everyoneâs minds. But weâre here to talk about the type of growth you donât need to manifest in a bullet journal: hair growth. Whether youâre dealing with hair loss and thinning or dreaming of a mane that looks like youâve added extensions, [Revela]( can help you get the growth youâre looking for this year. Their revolutionary new [Hair Revival Serum]( includes ProCelinylâ¢, which helps combat hair loss and shedding. Itâs designed to reawaken dormant follicles, leading to a 97% success rate in just six weeks. Revelaâs so confident youâll experience thicker hair that all products come with a money-back guarantee. [Click here for 15% off](. WORLD Tour de headlines
[Amazon Labor Union president Chris Smalls at a protest]Michael M. Santiago/Getty Images Amazon unionâs Staten Island win got certified. A federal labor official [certified]( the Amazon Labor Unionâs victory in the election at the New York City warehouse, rejecting the e-commerce giantâs objections to the vote. Amazon plans to continue appealing up the chain to the full National Labor Relations Board in Washington, DC. Nonetheless, the unionâs leader, Chris Smalls, called the decision âvery historic for workersâ and urged the company to begin negotiations with the union. Disney park loversâ complaints reached Mickeyâs ears. After many of its parksâ biggest fans took umbrage at the rising costs of a visit, Disney has worked some magic to help guests pay less (though mostly without actually lowering entry prices). Disney [said]( it will: stop charging for overnight parking, let Disney World annual passholders come to parks on weekday afternoons without a reservation, and expand the number of days lower cost tickets are available for Disneyland. But theme park backlash isnât the only headache Disney is dealing with: An activist investor is trying to join the board, Disney revealed yesterday, as it elevated a Nike exec on its board to the chair position. Uniqlo workers in Japan are getting a big raise. The retail chainâs parent company, Fast Retailing, promised a pay bump of up to 40% yesterday. The [announcement]( came days after Japanâs prime minister urged the countryâs employers to boost wages in the face of soaring inflation and average pay that has barely inched up since the 1990s. Itâs likely to put pressure on other companies during their annual spring pay negotiations, even if most wonât offer such a large increase. WEALTH [âSuccessionâ takes a nonfiction turn for Arnault family](
[Succession GIF]( Succession/HBO Not satisfied with simply taking Elon Muskâs top spot on the Bloomberg Billionaires Index, Bernard Arnaut is also taking plot lines from HBO. The worldâs richest person and CEO of luxury goods conglomerate LVMH named his daughter, Delphine Arnault, CEO of the fashion house Dior, [setting up]( a sibling battle for succession of his company. Analysts see the move as a Logan Roy/George Bluth-eseque attempt to pit sibling against sibling, as Arnaultâs son Antoine was named CEO of the holding company that controls the family fortune in December. Luxury goods seem to be a passion for all of Arnaultâs five children, as they all work for the company in various executive positions across its brands. Probably safe to assume thereâs a Tom Wambsgans analog eating birds under a cloth in the mix, too. But, like Succession, we may have to wait a few seasons to see how this all shakes out. LVMH recently changed its bylaws to increase the maximum age for a CEO to 80 (from 75)âan apparent sign that the 73-year-old Arnault patriarch isnât planning on stepping down soon. Nepotism is working: A surge in the share price of LVMHâEuropeâs most valuable companyâhelped push the combined value of companies listed in Paris above those listed in London in November.âMK Â Â Â FOOD [Yolked egg prices might finally get some relief](
[Six eggs in a carton.]( Westend61/Getty Images Dump your flaxseed and aquafaba: You might be able to afford to bake with actual eggs again soon. Egg prices are finally starting to come down after hitting a record-high average of $5.46 per dozen in December. How did scrambled eggs become the new caviar? Egg prices saw the [highest jump]( of all grocery items last year (49%), according to government data, forcing bored teens to go back to TPing and cyberbullying. A lot less chickens were crossing the road last yearâ¦On top of high inflation all around, more than 43 million egg-laying hens died last year due to the worst avian flu outbreak in US history (leaving ~375 million total). The death toll was so high partly because if one bird in a farmerâs flock gets infected, the FDA requires all remaining birds to be killed zombie apocalypse style. Three-egg omelets are on the horizon: Average egg prices fell slightly to $4.63 last week, partly due to less consumer demand post-holiday baking season. While prices are [finally]( trending down, experts cautioned that we wonât be getting bargain eggs again until the avian flu is fully under control.âMM    TOGETHER WITH DASHLANE
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[An old IBM computer]Simon Barnett/Getty Images Stat: IBM was not the company to receive the most US [patents]( last year for the first time since 1993. Instead, South Koreaâs Samsung got the most, while IBM came in at No. 2. But the company was quick to explain that it totally meant to drop off the top of the list after three decades of dominance, having made the decision back in 2020 to focus on collaboration over exclusivity to get the quantum computing industry off the ground. Quote:Â âWeâre unlike other agencies in that our interns arenât human.â Most interns know what itâs like to be treated like youâre not a real person, but the new ones at marketing agency Codeword wonât mindâbecause theyâre [just AI](. The two go-getters canât fetch anyone coffee, but they have already named themselves Aiko and Aiden and created their own uncanny valley-dwelling self-portraits. Soon theyâll be terrifying all creative industry workers by taking on tasks like creating concept images for mood boards and even writing first drafts of internal content if they show promise. Read: How police actually cracked the Idaho student murder case. ([Slate]() WHAT ELSE IS BREWING - [Damar Hamlin]( was released from the hospital yesterday, nine days after collapsing on the field during a Buffalo Bills game.
- [Subway]( is mulling the idea of a sale that would value the sandwich chain at more than $10 billion, per the WSJ.
- [President Bidenâs lawyers]( have reportedly found a second stash of classified documents from his VP days at another location, though itâs not yet known exactly what or where.
- [Netflix]( plans to stream its first live awards show (via its YouTube channel) with the Screen Actors Guild Awards in February.
- [Jeff Beck](, the influential rock guitarist, died Tuesday at age 78 from bacterial meningitis. LEVEL UP [Get better at business](
[A Queen Sugar gif]( Queen Sugar/OWN the Oprah Network via Giphy Looking for a business course youâll actually finish? Thatâs why our best-selling Business Essentials Accelerator exists. This eight-week virtual course will help you master the fundamentals of business, no matter your industry. We are now accepting applications for the February cohort. [Learn more and apply today](. BREW'S BETS Stare directly at the sun: NASA condensed 133 daysâ worth of changes on the sunâs surface into one hypnotic [time-lapse video](. Love the Brewâs Open House section? This site will let you [guess the price]( of a real estate listing every single day (but without Mattyâs signature wit, sadly). Transform 2023: Take control of your digital transformation strategy. Improve efficiency, enhance security measures, and gain an edge in â23 with [IT Brewâs latest guide](. What are you waiting for? History shows that a down market = a buyerâs market. So [now could be the time]( to invest in top companies. Check out [The Motley Foolâs 2023 stock picks here](.* *This is sponsored advertising content. GAMES The puzzle section Brew Mini: If you arenât playing the Mini yet, well, youâre missing out on a ton of fun!!! [Play it here](. Three headlines and a lie Three of these headlines are real and one is faker than the benefits of Dry January. Can you spot the odd one out? - Babies R Us [attempts]( comeback, plans to open store at American Dream mall in New Jersey
- M&Mâs to offer â[all-female](â packages for a limited time
- Prince Harryâs new book Spare [reveals]( his 12th birthday party theme was âoffice suppliesâ
- The worldâs first flying motorcycle could [hit the skies]( soon. Hereâs everything we know AROUND THE BREW [Achieve your goals this new year](
[Achieve your goals this new year]( Picture this: ânew year, new meâ but you actually stick to it. Shop a brand-new set of 2023 trackers designed to help you organize your life and become the person you want to be. [Shop now](. On [Imposters](, Alex interviewed Olympic speedskater Apolo Ohno about how he handled retirement at age 28 after lifelong dedication to the sport, and the imposter syndrome and identity crisis that came with it. What is the future of AI? Are people using the metaverse? Will self-driving cars become the new norm? Emerging Tech Brew has the answers to all your Big Tech questions. [Subscribe for free](. ANSWER We made up the Spare one. Written by [Neal Freyman](, [Abigail Rubenstein](, [Matty Merritt](, [Jamie Wilde](, and [Max Knoblauch]( Was this email forwarded to you? Sign up [here](. Take The Brew to work - Marketers: [Marketing Brew]( Â [Future Social](
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