CBX Daily 11/15/2024

Author

Jeanette Brown
November 15, 2024

Today, the FTC is threatening the Tapestry-Capri deal, but let’s start with how Americans believe that a $200,000 annual compensation would be ideal…

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Americans Think They Need $200,000 A Year To Be Financially Comfortable

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“Financially comfortable,” the meaning is unreachable for many, especially when you consider Americans feel they need more than three times the median U.S. household income of about $71,000 a year to feel financially secure. A Bankrate survey found U.S. citizens want to earn over $200,000 a year to be financially comfortable. Considering the median household income for Black U.S. households in 2021 was $46,400 and more than 450,000 job cuts during the first half of 2023, the expectation of being financially secure feels out of reach for many. 

FTC Puts The Brakes On Tapestry-Capri Merger But It's Not Over

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Tapestry Inc. (TPR +1.30%)–the parent company of luxury brands like Coach, Kate Spade, and Stuart Weitzman and Capri Holdings Ltd. (CPRI -6.68%)–the owner of Michael Kors, Jimmy Choo, and Versace had proposed a merger worth $8.5 billion. The aim was to tap into the booming streetwear culture and leverage the spending power of Black consumers. However, the Federal Trade Commission (FTC) has made a noteworthy victory in its antitrust regulation in ensuring fair competition and protecting consumers from potential monopolistic practices by stopping this merger.

The Hidden Crisis Behind Men’s Falling Life Expectancy

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Despite notable advances in healthcare and technology, the U.S. faces a stark and troubling reality: men are dying younger and in greater numbers. Life expectancy rates, especially among men, have not seen proportional improvements over the decades. In 2019, life expectancy stood at 78.8 years, but it dropped to 77 in 2020 and further to 76.1 in 2022. Alarmingly, the disparity in life expectancy between men and women increased from 5.7 years in 2020 to 5.9 years in 2021.

Tune-in Tuesdays!

Ozempic and other weight loss drugs have shown effectiveness in controlling blood sugar levels and in turn, potentially lower associated costs for diabetes treatments. However, they’re yet to achieve this. Are we just hearing a lot of hype without the impact or do we give it some more time?

A. “All or Nothing" by Alaine - Regardless of the costs, it’s a do-or-die situation. Take weight loss drugs to manage diabetes or risk worsening health conditions.
B. "Cover Up" by Money Man - Weight loss drugs might offer superficial improvements but they don’t address the deeper issues related to obesity and its associated health conditions.
C. "Trading Places" by Usher - These medications help shift the weight of healthcare costs. It’s just a matter of shifting the problem elsewhere.

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and welp! It looks like Queen B gracing Kamala’s campaign was just a ‘Hotline Bling’ and didn’t have the impact we thought it would.

Black Beauty Brands Are Beating Faces But Not Banking Billions…Yet

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Black consumers are not shy when it comes to purchasing beauty products that take prime place in their self-care routines. However, despite accounting for more than 11% of beauty customers throughout the country, Black-owned beauty brands account for only 2.5% of total revenue accrued from the industry. Given that 11.1% of beauty sales comes from the pockets of Black Americans, this is not a good look considering the $2.6 billion opportunity that’s being slept on by not addressing the beauty industry’s racial inequity.

Is America’s Aging Population Impacting The Wealth Gap

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The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community.

Vibes of the Week

Americans need at least $200,000 yearly to "Fall In Love" with life as JayO and Odeal explain in our CBX Vibes!