McDonald’s franchisees are worried the company’s new grading system will alienate workers

McDonald’s franchise owners are expressing concern and frustration over a new grading system the fast food giant is planning to roll out early next year, with some saying it is poor timing due to unprecedented pressures in the workforce. The company plans to enact the system, called Operations PACE, which stands for Performance and Customer Excellence, in January 2023. McDonald’s notes its “business climate is changing” in a 60-page overview of the PACE system, which was viewed by CNBC, and says it needs a “new approach that supports achieving our…

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Peloton took $182 million impairment charge last quarter as inventories piled up

A Peloton stationary bike for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton‘s goodwill took a $182 million hit in its previous fiscal quarter as inventory levels ballooned and consumer demand for its bikes and treadmills waned. During the three-month period ended March 31, Peloton identified various factors that indicated a “triggering event” for an impairment charge, the company said in a Tuesday 10-Q filing with the Securities and Exchange Commission. The charge was entirely related…

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Roblox pops 10% after initial earnings dip

A child looks back at a banner for Roblox, displayed to celebrate the company’s IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, March 10, 2021. Brendan McDermid | Reuters Shares of Roblox were up 10% on Wednesday morning, marking a stark turnaround from an initial 10% plunge Tuesday evening after the company published disappointing first-quarter earnings. The company reported a loss of 27 cents per share compared with the loss of 21 cents per share expected by Wall Street, according to Refinitiv. Analysts…

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Meet GM’s most expensive and powerful Cadillac Escalade yet, starting at $150,000

2023 Cadillac Escalade V-Series Cadillac DETROIT – General Motors’ newest Cadillac Escalade will be the most powerful and expensive version of the full-size SUV ever when it goes on sale this summer, starting at about $150,000. The Detroit automaker unveiled the 2023 Cadillac Escalade-V on Wednesday with a supercharged 6.2-liter V-8 engine that delivers 682 horsepower and 653 foot-pounds of torque. That’s significant performance improvement over the 420 horsepower and 460 foot-pounds of torque of the SUV’s current V-8 engine. “There is nothing like this in the industry,” said David…

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Southwest is upgrading its planes with faster Wi-Fi, bigger overhead bins and new drinks to woo travelers

OntheRunPhoto | iStock Editorial | Getty Images Southwest Airlines said it will spend more than $2 billion on improved passenger amenities like bigger overhead bins, faster internet and power outlets “in every seat,” in an effort to woo travelers as bookings rebound. The airline also plans to double the number of movies it offers travelers and to update its drink options on board to include bloody mary mix, ready-to-drink cocktails, hard seltzer and rose wine. The changes come as airlines gear up for a recovery in both leisure and business…

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Nearly 7 in 10 Americans want to live to 100, study finds. Here’s how retirement is changing

Despite fears of outliving savings, most Americans still want to live longer, a study on longevity and retirement shows. Nearly 70% of Americans want to live to age 100, with 29 years as the “ideal length” for retirement, according to an Edward Jones and Age Wave report that polled 11,000 adults in the U.S. and Canada in January and February. “We’ve been aware of longevity rising for some time,” said Ken Dychtwald, founder and CEO of Age Wave. “But in the last year, there’s been a lot more talk about…

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