Explaining Southern California's economy

Reportings: No grocery strike; pulling a Qwikster; space boom; Jarritos!

The grocery workers union comes to tentative terms on a new contract with the Big 3 chain stores in Southern California. No details, but early indications are that the stores made concessions on health-care funding. But this would be a take-back from the 2007 negotiations, when the union and the chains agreed to underfund the healthcare surplus. (KPCC.org) 

 

Netflix (NFLX) is getting hammered again today, after the decision to spin-off the DVD-by-mail business into something called "Qwikster," which is now dangerously close to to becoming a word that people use to characterize the destruction of market value. "Remember those guys?" "Yep, they were riding high and then they pulled a Qwikster." Sort of reminds me of Research in Motion (RIMM) introducing a tablet with no native email. #Fail (Google Finance)

 

A private spaceflight boom begins in the Southland: "The opening of the new hangar in some ways marked a symbolic passing of the torch, with private firms increasingly stepping forward to take over the role of providing human spaceflight that had long been the domain of government space agencies." (LAT)

 

Jarritos! Escaping the taco truck and going for the hipster crowd in LA. It's got the right stuff: "Jarritos is made with granulated natural sugar — not high-fructose corn syrup as are many mass-market soft drinks…It comes in 11 flavors, including guava, tamarind and mango." (NYT)

 

Photo: Jarritos.com

 

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