The Week in Business: New Orleans Goes Dark

Hurricane Ida made landfall on Sunday, leaving more than a million residential and commercial customers in Louisiana without power. And the outages raise questions about how well energy companies have prepared for extreme weather, which scientists believe is becoming more common because of climate change. Some energy experts said that Entergy, the state’s largest utility company, could have done more to protect its equipment. Last year, the company began operating a natural gas plant that was meant to provide electricity to New Orleans during times of high demand or in emergencies. But it could not move the energy to customers because of damage to its network of towers, poles and wires. It has asked state regulators to raise customers’ rates to cover repair costs for Ida, three hurricanes in 2020 and a winter storm this year.

General Motors

Read the rest

Read More

How Amazon Web Services makes money: Estimated margins by service

Adam Selipsky, CEO, Tableau Software

Scott Mlyn | CNBC

Every year since at least 2014, more than half of Amazon’s operating profit has come from the online retailer’s cloud division, Amazon Web Services, which provides online services and tools that software developers can stitch together to run websites and applications.

It’s an impressive business in absolute dollar terms, not just percentages: AWS ended 2020 with $13 billion in operating income, which helped Amazon report total net income of $21 billion for the year. No wonder Amazon chose the head of AWS for 15 years, Andy Jassy, as its CEO when Jeff Bezos stepped down earler this year.

Alibaba, Google, IBM, Microsoft and Oracle are all looking to challenge AWS. And unlike the Alibaba and Google clouds, AWS is profitable.

In the second quarter, Jassy’s final quarter as cloud chief, AWS had $4 billion in operating income, up about 25% year

Read the rest

Read More

Texas Businesses Take the Fight Over Voting Rights to Washington

The Republican-controlled Texas Legislature this week passed a major bill overhauling election laws in the state, the latest of many to tighten voting rules this year. In Texas, as elsewhere, many businesses and industry groups have spoken out against the move, arguing that it is bad for the economy.

Texas has persuaded many companies to relocate or expand operations there with its business-friendly policies. But in taking a stand on voting rights, some companies have invited scrutiny of their words and actions, especially with political donations. Balancing this against the tightening of some of the country’s strictest voting rules will test companies’ social pledges with financial imperatives.

There is also the risk of political blowback for speaking out in a state with a Republican governor and a Republican senator embracing restrictive voting rules as a platform for potential presidential runs in 2024.

“It is about ensuring that all Texans trust

Read the rest

Read More

Local business owners applaud vaccine mandates major employers are enforcing ::

— Major employers like Disney and CVS have recently mandated their workers get vaccinated against coronavirus, while Delta Airlines said it will start charging unvaccinated employees an extra $200 a month for health insurance.

While some major Triangle-area employers have remained silent on the idea of a vaccine mandate for staff, smaller businesses are applauding the move.

“I don’t want people here who haven’t been vaccinated,” said Gus Gusler, the owner of Raleigh restaurant Players’ Retreat. “You can’t work here if you haven’t been vaccinated.”

Players’ Retreat reopened two months ago with the restriction that only vaccinated customers and workers would be allowed inside.

Gusler praised Delta for its decision to charge higher insurance premiums to workers who aren’t vaccinated.

“There was a point where, if you were a smoker, they would raise your insurance rates,” he said. “At this point, I don’t

Read the rest

Read More

VMware Earnings Beat Expectations. Why Its Stock Is Tumbling.

Text size

Revenue from the cloud business was lower than expected.

Yury Cherenkov/


shares are trading lower late Thursday after the enterprise software provider posted mixed results for its fiscal second quarter.

For the quarter ended July 30, VMware (ticker: VMW) reported revenue of $3.14 billion, in line with Street estimates. But investors may not have liked the component parts. 

License revenue, from the company’s traditional on premise software business,- was $738 million, up 3%, and ahead of the Street consensus forecast of $699 million. But subscription and software-as-a-service revenue—basically the company’s cloud business—was $776 million, up 23%, but below the Street consensus call for $790 million.

Investors likely would have preferred to see the two elements moving in the opposite directions, with revenue from the cloud, rather than from the on-premise business, the star.

In an interview with Barron’s, VMware CFO Zane Rowe said the company thought it

Read the rest

Read More

Trump Says Terrorist Osama Bin Laden ‘Had One Hit’

  • During an interview with Hugh Hewitt on Thursday, Trump said Osama bin Laden “had one hit.”
  • Trump was boasting about the ISIS leader and the Iranian general who were killed under his watch.
  • “The founder of ISIS is bigger by many, many times, al-Baghdadi, than Osama bin Laden,” Trump said.

Former President Donald Trump on Thursday said the terrorist leader Osama bin Laden “had one hit,” a reference to the 9/11 attacks that killed 2,977 people in New York, Pennsylvania, and Washington, DC.

While discussing the Taliban and the evolving crisis in Afghanistan during an interview with Hugh Hewitt, Trump boasted about the operations during his tenure that killed the ISIS leader Abu Bakr al-Baghdadi and the top Iranian general Qassem Soleimani.

“You know, we got al-Baghdadi of ISIS, and he was trying to rebuild ISIS. And when I took over, ISIS was all over the

Read the rest

Read More

Small Business Spotlight: Hiro Ramen – Decaturish

Decatur, GA — A new Japanese restaurant has come to Decatur. Hiro Ramen opened about six months ago and serves authentic Japanese ramen and sushi and Taiwanese bubble tea.

“So far, business is doing better every month since we opened almost 5 months ago,” Hiro Ramen owner Jack Chang said.Japanese food is … much healthier food than any other food. I like to serve people healthy food instead.”

Hiro Ramen is a solo venture for the restaurateur.

“I’ve been doing so many different kinds of restaurants, including Chinese, American and Korean, and I’m just trying to try a different kind of adventure,” Chang said. “We are getting there. There’s stable growth. People have very high recommendations.” 

The chefs at the restaurant are all from Japan. One chef, Tomoyuki Mirua, has been a sushi chef for many years and has cooked all his life.

Mirua was born in Tokoyo

Read the rest

Read More

Three Tips To Vacation-Proof Your Small Business

Gavin Macomber is the CEO of Cloudli.

Small-to-medium-sized-business (SMB) owners are notoriously vacation shy, and for a good reason: Leaving your business behind, even if only for a few days, can present a multitude of challenges, spanning from customers experiencing hiccups to internal crises and lost revenue. It’s no surprise that one study found that 66% of SMB owners report that it’s difficult to take time off from work for a vacation. But when closing up shop isn’t an option, and entrepreneurial burnout sets in, what’s a small-business owner to do? 

You might be surprised to find that the key to getting your well-deserved vacation on the books isn’t careful scheduling or cross-training your most reliable employees to cover your duties (assuming you’re not a sole-proprietor). Instead, based on my experience creating communication solutions for businesses, I have found that planning strategically, using communication tools and setting goals

Read the rest

Read More

Trust in Trust: A Business Imperative

While carefully transitioning my weight from one foothold to another, high on the granite wall of the Stawamus Chief, I quickly glance down to my climbing partner, Peter. I’m feeling uncertain about my next step. If my foot pops, I’ll be sent soaring into space. I want him to be ready to catch me.

As I climb, Peter feeds out the rope through a special device attached to his harness. If I fall, the rope will be held in this device and Peter will catch me. The rope between us is literally my lifeline.

I commit fully to my next move and slowly grasp the sharp crystalline feature until it becomes firm in my hand. After I’m safely on the ledge, I take a deep breath. My heart still pounds as I stare out at the vast expanse of the Squamish Valley. It stares back at me in cold silence,

Read the rest

Read More

There’s still ‘billions of dollars in relief’ available for small businesses: SBA administrator

Small businesses in America can still capitalize on the pandemic stimulus program offered by the federal government, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman told Yahoo Finance in a new interview.

“We still have billions of dollars in relief in our COVID idle program,” said Guzman, who began her term under President Joe Biden in March after serving as the Director of the California Office of the Small Business Advocate.

The SBA initiatives — including the $953-billion Paycheck Protection Program (PPP), the Restaurant Revitalization Fund, the Shuttered Venue Operators Grant (SVOG), and Economic Injury Disaster loans — were created to provide crucial funding after the nationwide shutdowns stemming from the coronavirus pandemic, which led to approximately 200,000 businesses permanently shuttering in 2020.

That residual funding may be crucial as the Delta variant surge in various parts of the country dashes hopes that workers will be back in large

Read the rest

Read More