Month: February 2024

How to Quit Your Smartphone

How to Quit Your Smartphone

Last May, Fabuwood, a kitchen cabinet manufacturer in Newark, instituted a new company policy: No phones allowed during meetings.To enforce it, the company installed “device shelves” outside each of its six glass-walled conference rooms. On a recent Wednesday morning, there were animated meetings in three of the conference rooms, and the shelves outside were full of smartphones, tablets and ’90s-style flip phones. The 1,200-person company pays the cost of a flip phone for employees who give up their smartphone, and 80 people have acted on the offer.Surprisingly, employees say they like it. Rena Stoff, a project manager, said that while…
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Biden Takes Aim at Grocery Chains Over Food Prices

Biden Takes Aim at Grocery Chains Over Food Prices

President Biden, whose approval rating has suffered amid high inflation, is beginning to pressure large grocery chains to slash food prices for American consumers, accusing the stores of reaping excess profits and ripping off shoppers.“There are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation,” Mr. Biden said last week in South Carolina. Aides say those comments are a preview of more pressure to come against grocery chains and other companies that are maintaining higher-than-usual profit margins after a period of rapid price growth.Mr. Biden’s public offensive reflects the political reality that, while inflation…
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U.S. Makes Initial Offers in Medicare Drug Price Negotiations

U.S. Makes Initial Offers in Medicare Drug Price Negotiations

Why It Matters: The price offers kick off negotiations.The medicines selected for negotiations are taken by millions of Americans to treat conditions like diabetes, cancer and heart disease. The administration identified them in August, beginning a lengthy process intended to result in an agreed-upon price that would take effect in 2026, assuming the negotiation program survives legal challenges.The initial round of price offers is a key step in the negotiation process. Each drugmaker has until early March to accept the offer or propose a counteroffer to the government. A series of negotiation sessions could follow, with the process set to…
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