☕ Dress like a Roy

Canceled flights may get costlier for airlines... May 09, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Monogram]( Good morning. NYC might set the record for number of $1 oysters consumed at happy hours this week. [7-day weather forecast for NYC]Google —Sam Klebanov, Molly Liebergall, Cassandra Cassidy, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 12,256.92 +0.18% S&P 4,138.12 +0.05% Dow 33,618.69 -0.17% 10-Year 3.512% -0.1 bps Bitcoin $27,693.47 -3.17% Six Flags $26.62 +18.63% *Stock data as of market close, cryptocurrency data as of 4:00am ET. [Here's what these numbers mean.]( - Markets: Stocks mostly [held steady]( yesterday as everyone waits for April’s inflation data to drop tomorrow. Regional banks saw some movement as PacWest cut its dividend, then teetered up and down throughout the day. But it wasn’t a roller coaster for Six Flags: The theme park operator shot straight up after reporting record revenue for the last quarter thanks to higher ticket prices.  MEDIA [Americans don’t agree on what news to trust]( [Turning on TV gif]( Francis Scialabba, Photos: Getty Images “In the media we only sometimes trust” could be America’s motto, according to the results of a [YouGov poll]( released yesterday. The April survey shows extreme polarization in how much trust folks put in 45 news outlets. According to the survey, CNN and MSNBC are the most divisive: A much larger share of Democrats than Republicans think they’re in the business of telling the truth. But winning over Democrats may be easier: The survey shows they’re more likely to trust most media outlets than Republicans—they’re even more likely than Republicans to have faith in the conservative-leaning New York Post. And, in some good news for the brave souls who report from the eye of the storm, the most trusted news source overall is The Weather Channel, followed by PBS and the BBC. Meanwhile, only a handful of ultra-distrusted publications, including Breitbart News, The Daily Caller, and InfoWars, have more skeptics than believers, per the survey. What this means for TV The lack of trust likely isn’t helping cable news ratings. According to the survey, CNN and Fox News, enjoy the trust of just 40% and 38% of the public, respectively, and recent Nielsen data shows they’re struggling to keep viewers tuning in. - CNN had a 61% drop in prime-time viewership in March compared with a year earlier as it attempts to reinvent itself under new management. - Fox lost 29.6% of its prime-time audience in the week after it dismissed its most popular on-air personality, Tucker Carlson, in the wake of a defamation scandal with a $787.5 million legal settlement. Even smaller screens have a credibility problem: Social media sites are inspiring mistrust, too. TikTok ranked as the most distrusted social media platform in the survey—even among younger adults. And LinkedIn is the only social media site with a greater share of survey respondents trusting it than not. Looking ahead…the situation might be improving: Media skepticism overall has declined in recent months compared to a similar YouGov survey from last year.—SK   TOGETHER WITH MONOGRAM [These robots are planning for the Nasdaq]( [Monogram]( [Monogram]( plans to list on the Nasdaq this year, but you, dear reader, don’t have to wait ’til then to invest. You can invest right now alongside more than 17k others backing Monogram’s plan to reinvent the [$19.4b joint replacement industry](. Monogram aims to launch the first active-cutting robotic surgical assistant on the market to install their personalized, 3D-printed joint implants. Perfect timing, since 50% of joint replacement surgeries will involve robotics by 2030. They showed off their robot’s potential with a live surgery on a cadaver for a 5k-person digital audience this year. In a world with 100k failed joint surgeries every year, this industry kneeds a solution. Invest in Monogram before their intended Nasdaq listing—and be on the lookout for ticker MGRM. [The last day to fund your investment is May 10](. WORLD Tour de headlines [House Speaker Kevin McCarthy and President Joe Biden]Kent Nishimura / Los Angeles Times via Getty Images The debt ceiling dance is on. President Biden is [scheduled to meet]( with House Speaker Kevin McCarthy and other congressional leaders today to negotiate raising the debt limit in hopes of averting economic catastrophe. The two sides are coming into the negotiations far apart: Biden says the ceiling should be raised with no conditions, while Republicans have vowed only to raise it in exchange for steep spending cuts. The clock is ticking as the US anticipates running out of money to pay all its bills as of June, but today’s meeting is not expected to produce a final result. Meat prices are coming down. It’s good news for anyone whose regular pizza order is the meat lovers, but bad news for Tyson Foods, which posted a surprise $97 million [quarterly loss]( yesterday (sending its stock down 16%). The company said it’s still facing higher prices for feed and livestock but can’t pass the extra costs to consumers because of waning demand. Its average sale price dropped 10.3% for pork and 5.4% for beef last quarter. The Army terminated Texas mall shooter after three months. As authorities continued to investigate the motives and white supremacist views of the shooter who killed eight people at a Texas outlet mall over the weekend, military officials told news outlets yesterday that he had been [discharged]( from the US Army in 2008 due to mental health issues after just three months and did not complete training. The shooter, who was killed by police during the attack, purchased the guns he used through legal private sales that did not require background checks, but this type of discharge would not come up in checks. TRAVEL [Biden wants airlines to pay you for travel headaches]( [New rules would give customers cash back for flight cancellations.]( Hannah Minn Good news for weary travelers: The Biden administration is planning to propose new rules that would require cash compensation for flyers when airlines are responsible for a cancellation or lengthy delay. This will be a first for US-based airlines: Refunds for canceled flights are federally required, but no major carrier offers extra cash for the inconvenience. Only JetBlue and Alaska Airlines currently guarantee compensation of any kind beyond a refund—and it’s in the form of frequent flyer miles or vouchers. Air travel complaints have quadrupled in recent years, with most coming from travelers trying to get refunds. And for good reason: The Department of Transportation (DOT) attributes almost 80% of cancellations from the first half of 2022 to airline mismanagement like crew shortages, craft maintenance, or late-arriving planes. Those situations would warrant compensation in addition to a refund under the Biden administration’s [planned rules](. Airlines would also be required to cover meals, transportation, and hotels during flight disruptions, which most (except Frontier) started doing voluntarily after last summer’s nightmare travel season. Experts predict this summer could be even worse, but implementing the new rules could take months or even years. Until then…travelers can use the DOT’s newly expanded customer service [dashboard]( to see what each airline offers for delays or cancellations.—ML   TOGETHER WITH EXPRESS EMPLOYMENT PROFESSIONALS [Express Employment Professionals]( Get clued in to easy hiring. The experts at Express make it easy to [find local talent for your hiring needs]( from experienced execs to entry-level employees to tradespeople. We planted some of their unique job titles into a mini crossword—think you can name ’em all? [Give it a try](. FASHION [‘Quiet luxury’ is fashion’s biggest trend]( [Kendall, Shiv, and Roman Roy in a scene from "Succession"]( Claudette Barius/HBO Succession has taken over the internet with its memes, crafty Machiavellian insults, and Kendall Roy obsessives. And now it’s taking over your closet with “quiet luxury.” Thanks in part to the show’s [cashmere baseball caps]( quiet luxury is surging: The term surpassed 35 billion views on TikTok. What is it? Many in the fashion industry define quiet luxury much like the Supreme Court defined obscenity in 1964: You know it when you see it. It’s well-tailored, logo-free clothing made from expensive fabrics in neutral colors—think bespoke. Why now? Seeing Succession characters as fashion inspo is part of it, but so is the looming possibility of a recession: Quiet luxury last had a resurgence in 2008. While the economy grapples with banking turmoil, Big Tech layoffs, and interest rate hikes, flashy styles—like conspicuous brand names or a neon bodysuit—are just not it. Instead, [quiet luxury]( insists on quality. According to brand research firm Edited, “Quiet luxury provides investment pieces with a year-round appeal that offers consumers a good cost-per-wear return.” Style trickles down: This Spring/Summer season’s lines saw the use of premium materials, like Pima cotton and merino wool, jump 32% year over year, according to Edited, proving the impact of quiet luxury on the mass market. Expect to see more accessible retailers turn to elevated basics.—CC   GRAB BAG Key performance indicators [Spaghetti in the shape of a dollar sign]Illustration: Francis Scialabba, Photo: Teine/Getty Images Stat: While some people have so much pasta they dump it in the woods of New Jersey, over in Italy, surging pasta prices are interfering with la dolce vita. The Italian government has scheduled [crisis talks]( for this Thursday to address the soaring cost of noodles, which jumped 17.5% year over year in March even as wheat prices fell. Inflation is high in Italy, but not that high: Overall consumer prices rose 8.1% in the same month. Quote: “Great win for the Suns last night in an amazing series so far! That should be and is the only story.” To the great debates of our time—like Coke or Pepsi and whether Han shot first—we can now add the question of whether Phoenix Suns owner Mat Ishbia was [fouled or flopped]( during his team’s game against the Denver Nuggets on Sunday. Nuggets star Nikola Jokić got a technical foul for “deliberately” making contact with Ishbia as he tried to wrest a ball that had sailed into the crowd from him—but it looked to many like Ishbia exaggerated his response to that contact. Either way, Ishbia’s ready to bury the hatchet before Game 5 of the series: He tweeted yesterday that he didn’t want Jokić suspended or fined. Read: AI is poised to concentrate wealth and disempower workers. Is an alternative possible? ([The New Yorker]( NEWS What else is brewing - [The driver]( of an SUV who plowed into a crowd outside a migrant center in Texas and killed eight people this weekend has been charged with manslaughter. - [Goldman Sachs]( has agreed to pay $215 million to settle a long-running class-action lawsuit accusing the investment bank of underpaying women. - [Elon Musk]( warned that Twitter follower counts may drop as the platform removes inactive accounts. - [This year’s Pulitzer Prize]( winners were announced yesterday. Demon Copperhead by Barbara Kingsolver and Trust by Hernan Diaz won for fiction, in case you’re looking for your book club’s next read. - [Mark Zuckerberg]( may never make the metaverse happen, but he did get a big win recently: The Facebook founder took home two medals from a Brazilian jujitsu competition (and then flexed on Insta). FROM THE CREW [Be the best leader you can be]( [Rosewood character saying you can do better]( Rosewood/Fox via Giphy Do you feel like you could lead your team better? Learn to be the leader people want to follow with our Leadership Accelerator beginning on May 29. Spend eight weeks learning from industry leaders, mastering leadership techniques, and working with a modern textbook that’s actually relevant. [Apply today](. RECS No spaceship needed: Elon Musk can’t get you to Mars yet, but [this simulation]( lets you explore the Red Planet. Costs more than peanuts: A list of which [MLB stadiums]( serve the cheapest (and most expensive) beer and hot dogs. They gave their blood, sweat, and tears for this: The [logistics]( behind Taylor Swift’s Eras Tour. Free quips: Here are some of the best protest signs from [the writers’ strike](. Attend the marketing event of the year: Join us at The Brief this Thursday in NYC for only $250 using code: MBFAN. [See you there](. Catching zzz’s: Get better sleep (and unlock more energy) with Apollo Neuro’s [new wearable tech](. This neuroscientist- and physician-created device helps melt away stress using soothing vibrations for better sleep, relaxation, and focus. [Feel those calm vibes]( Read up on robots: [Monogram Orthopedics]( hopes to revolutionize the knee replacement industry with precision tech and customized implants. Learn all about their plans for this [much-(k)needed innovation]( *This is sponsored advertising content. GAMES The puzzle section Brew Mini: “Did part of an Ironman” (five letters) is your clue of the day. If you know that, you’re already more than 20% done with today’s Mini. [Finish it off here](. Eurovision trivia Eurovision, the megapopular European music competition, begins tonight in Liverpool, England. Of the many musical acts discovered by their performance at Eurovision, one towers above all: ABBA, which won it all for Sweden in 1974. Which song did they win for? Hint: It’s named after a battle. AROUND THE BREW [Keep ’em coming back]( [Keep ’em coming back]( Unlock a successful customer loyalty program with tips and strategies from a former Sephora exec. Check out the three-step guide from Retail Brew. [Download it today](. You asked, we’re delivering: Difficult Conversations returns on May 15 to teach you how to masterfully communicate in the workplace and get what you want. [Reserve your spot now](. If you’re thinking about a job in finance but aren’t sure where to look, we’ve got the event for you. [Find out more](. SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER The all-time classic “[Waterloo]( ✢ A Note From Monogram This is a paid advertisement for Monogram Orthopedics’ Regulation A+ offering. Learn more at [invest.monogramorthopedics.com/disclaimers](. Written by [Neal Freyman]( [Molly Liebergall]( [Abigail Rubenstein]( [Cassandra Cassidy]( and Sam Klebanov Was this email forwarded to you? Sign up [here](. Take The Brew to work - Marketers: [Marketing Brew]( - Corporate: [CFO Brew](  [HR Brew]( - Tech: [IT Brew](  [Tech Brew]( - Retailers: [Retail Brew]( - Healthcare: [Healthcare Brew]( Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright © 2023 Morning Brew. All rights reserved. 22 W 19th St, 4th Floor, New York, NY 10011