CBX Daily 10/16/2025

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October 16, 2025

Today, Millennials Are Redefining Spending As They Trade Paychecks For Pets… but let’s start with how J&J’s $966M Baby Powder Settlement Is Stirring Conversations About Profit, Pain, And Racial Targeting.

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J&J’s $966 Million Baby Powder Cancer Settlement Highlights Racial Targeting

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A Los Angeles jury has ordered Johnson & Johnson (JNJ +0.42%) to pay $966 million to the family of Mae Moore, who died in 2021 from mesothelioma, a rare cancer linked to asbestos-contaminated talc exposure. This unprecedented agreement marks a significant moment in the intersections of public health and corporate accountability. For Black women, who were selected by J&J as “the right place” to sell more talc baby powder to, specifically targeting  “under-developed geographical areas,” this is perhaps an opportunity for financial reciprocity along the path to racial health equity.

Millennials Redefine Spending As They Trade Paychecks For Pets

For many millennials, pets aren’t just companions—they’re financial priorities. With 34% of millennials willing to turn down higher-paying jobs to be with their pets, it’s now clear that furry friends are influencing financial decisions in a big way. Reports show that the pandemic, which decimated other businesses, only accelerated the growth in the pet business. Pet ownership surged during the Covid-19 pandemic, and today, over 66% of U.S. households own a pet, spending more than $136 billion annually.

Black Millennials Getting On Track To Create Generational Wealth

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Millennials are set to become the largest generation and portion of the workforce in the U.S. though they continue to lag behind Baby Boomers when it comes to creating generational wealth. People 57 to 75 years old, control 53% of the country’s total wealth, and have a far larger share of the country’s wealth than millennials when they were the same age, 21% compared to the millennials’ 4.6%. Building generational wealth, financial assets passed down from one generation to another, is an uphill battle for millennials, particularly Black millennials whose financial legacy is imperative in closing the racial wealth gap.

No Injunction for Michael Jordan’s NASCAR Team in Ongoing Lawsuit

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It’s been a challenging race to the finish line in the latest lawsuit between NASCAR and Michael Jordan’s 23XI Racing team. This tit for tat began with 23XI Racing and Front Row Sports declining to sign a new NASCAR charter agreement, which the aforementioned teams felt would jeopardize their fair share of the race purse. So in a bid to increase the revenues and influence of NASCAR Cup Series, Michael Jordan and Front Row MotorSports took legal action against the organization and chairman Jim France. Their suit claimed NASCAR’s actions violated antitrust laws, however NASCAR has since filed a countersuit which accused Jordan’s team of “interfering with” negotiations and “threatening boycotts of NASCAR events”. 

New Trump Rule Could Make It Harder for the Poor To Get Medicaid

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President Donald Trump’s new tax and spending law will likely force more than half the states to reduce payments to doctors and hospitals that treat Medicaid patients, a change critics warn will be particularly harmful to rural hospitals struggling to stay afloat. Medicaid, the joint state-federal health insurance program for those with a low income, reimburses doctors, hospitals and nursing facilities for treating enrollees. The new law will reduce Medicaid spending by $149 billion over the next decade, and reduce Medicaid provider payments in as many as 31 states.

Keep your week vibe higher with “What Ever You Want” by G Herbo, which is setting the tone in this week’s CBX Vibes.