Morning Brew Daily Goldman Sachs CEO On Hot Seat?, High Cost of Vaping, Biden Chip Plan
Mar 1, 2023
Goldman Sachs CEO David Solomon faces intense scrutiny as the company wrestles with its consumer banking strategy. Vaping costs are set to rise, prompting discussions about market dynamics and youth trends. Meanwhile, President Biden's chip plan aims to curb excess profits from semiconductor makers. The talk lightens up with a quirky debate on the necessity of a lunar timezone and the social faux pas of ordering the same dish as a dining partner. Expect a blend of finance, tech, and fun!
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Goldman Sachs CEO's Troubles
- Goldman Sachs CEO David Solomon is under pressure after the company's consumer banking efforts failed.
- The bank's traditional strengths, investment banking and trading, have also struggled.
Altria's E-Cigarette Gamble
- Altria, maker of Marlboro cigarettes, is considering buying e-cigarette brand NJOY for $2.75 billion.
- This follows their disastrous $38 billion investment in Juul, now worth only $700 million.
Desperation Play?
- Altria's pursuit of NJOY seems like a desperate attempt to gain a foothold in the growing e-cigarette market.
- Teen vaping rates have fallen significantly since 2019.