⏱The best motivator
Take two on the impeachment, and IPOs everywhere
Good morning everyone! It’s pre-Friday, which means that it’s almost the weekend. Stay strong!
0:05- Take two for the House
Yesterday the House of Representatives, led by Speaker Nancy Pelosi voted to impeach President Trump for the second time under the allegation that he encouraged the insurrection attempt last week. The final vote was 232 to 197, with all of the Democrats, and 10 Republicans voting yes. This impeachment means that the Republican controlled Senate will now have to vote on whether or not to convict President Trump. It also made him the only president in history to be impeached twice.
0:26- Popping IPOs
Experts expect that 2021 will be another record breaking year for IPOs, and today those predictions looked pretty solid. The financing company Affirm, who offers installment loans for big online purchases such as a Peloton, went public today under the ticker $AFRM. The stock was originally priced out of its range at $49, but began trading at $90.90 per share. The biggest winner of the day though? Shopify, who owns 8% of the company following an investment last July. Their share of the company is now worth over $2Bn.
0:50- The greatest motivator in human history? Money
Dollar General announced today that they would be offering employees a financial incentive to get the Covid-19 vaccine — four hours worth of pay. This move by the retailer, which has over 157k employees, marks the first large scale incentive implemented by a major corporation in the fight to reduce volatility within their workforce. Many big employers have made comments indicating that they want as many of their employees to get vaccinated as possible, but most are scared of the legal troubles that would arise to require staff to get the vaccine.
1:14- The Bob Swan Song
In an abrupt, but not unexpected move, Intel CEO Bob Swan stated that he would be stepping down as CEO on February 15th, and that VMware CEO Pat Gelsinger would be succeeding him. This announcement comes after a rather difficult two years for Swan, who oversaw the loss of Apple’s business and a decrease in market share to competitors such as AMD.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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