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TOGETHER WITH
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Good morning. Starting
this year, Morning Brew will be commemorating Juneteenth as a paid
company holiday. As you'll read in the newsletter, we aren't the only
ones in the business world using June 19 as a moment to hit pause and
reflect.
Have a great day—see you here tomorrow morning.
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NASDAQ
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9,943.05
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+ 0.33%
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S&P
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3,115.34
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+ 0.06%
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DJIA
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26,080.10
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- 0.15%
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GOLD
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1,729.70
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- 0.34%
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10-YR
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0.713%
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- 2.10 bps
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OIL
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38.90
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+ 2.48%
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*As of market close
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Economy: The number of Americans applying for unemployment benefits totaled 1.5 million
last week, showing the pandemic is still ravaging the labor market
three months in. And despite falling for 11 straight weeks, the number
of jobless claims is more than double the previous record high.
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COVID-19 updates: Arizona, Florida, and California reported a record number of new coronavirus cases in a single day. California is now requiring residents to wear face masks in most public settings.
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Jahi Chikwendiu/The Washington Post via Getty Images
Yesterday, the Supreme Court smacked down a yearslong effort by the Trump administration to ditch the Deferred Action for Childhood Arrivals, or DACA, program.
- Former President Obama
started DACA in 2012. It protects about 700,000 undocumented immigrants
who were brought to the U.S. as children from deportation, and allows
them to work in the U.S. legally.
Scrapping DACA was one of President Trump’s campaign promises during the 2016 election. In September 2017, his DOJ announced plans to follow through, claiming that President Obama overreached when he created the program.
The smackdown: Was
really more of a shove. In a 5–4 decision, the justices upheld the
position of lower courts that the administration’s reasoning for
canceling the program didn’t pass the smell test. Writing for the
majority, Chief Justice John Roberts said that terminating DACA wasn’t
necessarily unconstitutional, but the Trump administration’s approach
was flawed.
The
president didn't take it well. In a tweet, Trump called the decision
“horrible & politically charged” and announced he would release a
list of potential new justices by Sept. 1.
- Democratic presidential challenger Joe Biden praised the ruling and pledged to make DACA permanent if elected.
The biz community also approved
Microsoft has been one of the primary voices
in favor of DACA and even took part in the Supreme Court case as a
plaintiff. President Brad Smith tweeted that the ruling was “a victory
for the country.”
Apple CEO
Tim Cook tweeted he would “keep fighting until DACA’s protections are
permanent,” noting that Apple has 478 Dreamers on staff. Thomas Donohue,
CEO of the Chamber of Commerce, called it “the right decision today for
Dreamers, our economy, and our country.”
Bottom line: Although it can be a lightning rod in Washington, most voters support DACA.
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155 years
ago today in Galveston, TX, Major General Gordon Granger announced that
all slaves were to be set free under federal orders. In the years since,
Juneteenth (a portmanteau of June + 19th) has become an annual celebration of the end of slavery in the U.S.
Now, fueled
by recent protests against racial injustice, a day that’s historically
been celebrated through family gatherings and community events has
caught the eye of major corporations.
- Nike, Uber, Twitter, Spotify, and Target have made Juneteenth a paid holiday.
- Amazon and Google encouraged employees to cancel meetings.
- Capital One and JPMorgan will close branches early. Bank of America and Citigroup encouraged workers to use a personal day.
Paid holidays do incur costs for employers—an average of 77 cents per employee hour worked. Some companies are debating replacing Columbus Day or Martin Luther King Jr. Day with Juneteenth.
- According to 2018 government estimates, MLK Day is offered as a paid holiday for 24% of private industry workers.
Big picture: Calls
are growing for Juneteenth to become a federal holiday. But to close
stock exchanges, a presidential declaration or act of Congress is
needed.
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Francis Scialabba
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What it does: Active
Drive Assist can control a vehicle's steering, braking, and speed. But
there’s a driver monitoring system that ensures you’re only somewhat
distracted solving the Friday Puzzle. The tech also only works on
100,000 miles of divided highways that Ford’s mapped across the U.S. and
Canada.
Active Drive Assist will be available in the second half of 2021, starting with the electric Mustang Mach-E SUV.
Can Ford catch up?
Advanced
driver-assist systems from GM (Super Cruise) and Tesla (Autopilot) have a
big head start, but objects in Elon's mirror are closer than they
appear.
For one, Ford has the U.S.’ bestselling vehicle in its back pocket. The carmaker is debuting
a redesigned F-150 next week...another potential candidate for Active
Drive Assist. It’s also revealing the new Bronco, an off-road Jeep
competitor, in July and an all-electric F-150 in 2022.
Zoom out: With a growing debt load and a painful 2018 restructuring, Ford needs a W on its new truck.
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On our podcast, Business Casual, host Kinsey Grant asks the biggest names in business the biggest questions in business. We know that’s a...big ask, but Business Casual guests deliver. Here are some recent episodes worth checking out:
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Diversity: Medley founder Edith Cooper’s candor and wisdom will push you to think differently and ask more questions about diversity in the workplace.
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Restaurants: In this two-part series, restaurateur Marcus Samuelsson pictures a world without restaurants while Sweetgreen's Nicolas Jammet and Chef JJ Johnson explain the changes they expect in a post-COVID-19 world.
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Drugs: Imagine your doctor telling you, “Take a magic mushroom and call me in the morning.” Rick Doblin dives deep on the uses of psychedelics and marijuana in clinical settings.
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Hiring: If "48 minutes of pure value
and crucial insights" sounds like something you would be interested in,
check out our chat with LinkedIn’s Chief Economist, Karin Kimbrough. Kimbrough examines U.S. unemployment and tells us what needs to happen to get the economy back on its feet.
Got an idea for a future episode? Want to hear what Mark Cuban is like off the record? Take it up with Kinsey on Twitter.
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Naughty Dog / Sony Interactive Entertainment
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At midnight ET, the videogame The Last of Us Part 2 was released for Sony's PlayStation 4. It’s studio Naughty Dog’s hyped follow-up to 2013’s The Last of Us, and the characters are...in a pandemic.
- But the disease is a brain fungus, so don’t worry, not creepy at all.
Critics are saying:
It’s horrific, in the best way possible. NPR describes it as “a game
that punches you in the gut right from the start, and never stops
punching.” But that’s not a bad thing; reviewers gushed about the game’s
visuals, set pieces, and sophisticated storytelling.
If that sounds more like a TV show than a videogame to you, you might have a future in showbiz. HBO is developing a The Last of Us series from Chernobyl creator Craig Mazin and the game’s creative director, Neil Druckmann.
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Readers who
take our news quiz say it makes them feel accomplished to know they
actually internalized information from reading the Brew each week. You
too can capture that feeling. Take the quiz here.
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Facebook took down some Trump campaign ads for violating its policies against hate group imagery.
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Carnival posted a worse-than-expected $4.4 billion loss in Q2.
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The U.K. made a U-turn and decided to use Apple/Google’s tech as the platform for its coronavirus contact tracing app.
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Hard Knocks will feature the LA duo of the Chargers and the Rams this upcoming NFL season.
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These kicks pair perfectly with summer. CARIUMA—the
Brew’s favorite maker of absurdly stylish, sustainably-made, 100%
comfortable shoes—is giving you 2-for-1 good vibes. How? They plant two
trees in the Brazilian rainforest for every pair of shoes sold. You can help yourself, and nature, look better this summer. Get a pair for 15% off and plant a pair today.
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Math can be fun: This website,
which calls itself the “textbook of the future,” has lots of
fun/interactive math tools to play around with. No, our algebra teacher
did not hijack our laptops and write this.
Here’s how you can celebrate…
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Pay attention to the instructions: Think of four common six-letter words that have the following properties:
- They all end in the same five letters, in the same order.
- The first letters of these four words are consecutive consonants in the alphabet (like B, C, D, F).
What are the words?
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When you share the Brew, you earn rewards.
From Brew swag like t-shirts and coffee mugs to exclusive content, we've
got something for everyone in our premier rewards program.
Hit the button below to start sharing the Brew.
Click to Share
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There are two acceptable answers: 1) lotion, motion, notion, potion and 2) browns, crowns, drowns, and frowns
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