Jalen Brunson of the New York Knicks is using his season-ending turnover from last year's playoffs as motivation heading into this year's playoff opener against the Philadelphia 76ers. Despite a stellar season, Brunson has been haunted by the turnover and is determined to rewrite the outcome. The Knicks are gearing up to face a formidable 76ers team led by Joel Embiid, with both teams aiming to advance to the second round.
The Great Resignation may have subsided overall, but certain industries such as personal care services and trucking continue to experience high turnover as workers seek better-paying opportunities. This trend has led to wage increases in these sectors, posing a challenge for the Federal Reserve in managing inflation. Meanwhile, industries like retail and professional services have seen a decrease in quitting as wage hikes have moderated. The overall job market is cooling, and many workers have already found positions that match their skills and salary requirements during the Great Resignation.
The Philadelphia Eagles are continuing to see turnover in their coaching staff as senior offensive assistant Marcus Brady is leaving to join the Chargers as their pass-game coordinator. This move comes after the Eagles hired Kellen Moore as their offensive coordinator, indicating a shift in offensive leadership for the upcoming season. Additionally, the Eagles have brought in Doug Nussmeier as their new quarterbacks coach, further solidifying Moore's influence on the team's offensive strategy.
Walmart is increasing its store managers' annual salary to $128,000, up 9% from last year, with the potential to earn up to 200% of their pay as yearly bonuses based on store performance. This move aims to address high turnover in the retail industry. However, the company has also reduced pay for certain roles, while last year it increased starting wages for U.S. employees. Additionally, 22 states have implemented higher minimum wages this year, while the federal minimum wage remains at $7.25 per hour.
Philadelphia City Council is undergoing significant changes with the election of two progressive third-party members, Kendra Brooks and Nicolas O'Rourke, who won seats traditionally held by Republicans. This leaves only one Republican on the council. The council will also have a majority of inexperienced members, with two-thirds serving one term or less. The new leadership, including mayor-elect Cherelle Parker, a centrist Democrat, raises questions about the influence and power of the progressive faction. The council has recently shifted ideologically to the right, but the new members may bring a more progressive agenda focused on affordable housing, climate change, and economic justice. The leadership style of Councilmember Kenyatta Johnson, the likely next Council president, will play a role in how the chamber organizes itself and addresses political and policy disagreements. The success of the council will also depend on its relationship with Mayor-elect Parker.
Wage compression, where new hires are paid significantly more than long-time employees, is silently destroying many companies and breeding resentment among workers. This issue arises when companies fail to keep up with market demands and refuse to give raises to their loyal employees. The resulting toxic workplace environment leads to frustration and mistrust, causing some employees to seek unionization. Additionally, wage compression contributes to high turnover rates and the loss of valuable institutional knowledge. Companies must address this issue to maintain employee morale and prevent financial losses.
Wrexham AFC, the Welsh football club owned by Ryan Reynolds and Rob McElhenney, is embarking on a two-week tour of the United States, featuring friendlies against Chelsea and Manchester United, as part of their strategy to grow the club's global appeal. The tour aims to build the club's profile and fanbase, with the projected turnover for this season expected to reach £20 million ($26 million). Wrexham's success in securing lucrative sponsorship deals and the popularity of the documentary series "Welcome to Wrexham" have contributed to their financial growth and increased support. The tour is seen as an investment in the future, with the potential for annual tours in the US.
Binance CEO Changpeng "CZ" Zhao dismissed reports of top executive departures, stating that turnover is a normal occurrence in any company. The departures come amid regulatory pressure, with the SEC filing a lawsuit against Binance and CZ for alleged securities law violations. High-profile personnel, including the Chief Strategy Officer and Senior Director of Investigations, have left the company reportedly due to CZ's response to an ongoing DOJ investigation. Binance's Chief Business Officer has also departed, and U.S. staff are being asked to relocate or face layoffs. Binance's exchange token, BNB, has dropped 2.4% in response to the news.
Hong Kong is launching a new program allowing investors to trade equities in the yuan on top of its local currency, in a bid to revive its flagging stock market and boost turnover that’s hovering at a four-year low. The HKD-RMB Dual Counter Model will give traders the option to buy and sell some of the financial hub’s biggest-listed stocks using the yuan, including Tencent Holdings Ltd., Alibaba Group Holding Ltd. and China Mobile Ltd. The initiative can draw more buyers by minimizing exchange-rate risk and solidify the yuan’s growing status as an international currency.
The resignation of New York City's first female police commissioner, Keechant Sewell, has added to the challenges facing Mayor Eric Adams' administration, which is already dealing with a range of issues including a housing crisis, budget talks, and a surge in migrant arrivals. Experts say Adams' management style lacks a clear vision and he relies too heavily on his inner circle of friends and allies, leading to an extraordinary level of turnover in key posts during his first 18 months in office. Despite the challenges, some political strategists say Adams was elected on a platform of public safety and must address issues such as crime and the budget quickly.
Jalen Brunson's heroic performance of 41 points and five made 3-pointers was not enough to extend the Knicks' season as they lost to the Heat in Game 6 of the Eastern Conference semifinals. Brunson played 45 gutty minutes and made one big shot after another to keep his team within shouting distance. However, his late turnover while trying to pass to Julius Randle proved costly. Despite the loss, Brunson had an awesome postseason, proving to be worth every penny of the four-year, $104 million deal the Knicks gave him last summer.
A new survey from the Brennan Center for Justice predicts that approximately 1 in 5 local election officials will leave their jobs before the 2024 election, with 12% of officials starting after the 2020 election. The survey also found that 30% of respondents had been personally harassed, abused, or threatened, and 22% knew of officials who left their jobs due to fear for their safety. Experts warn that losing expertise and election workers may hurt the management of future elections.
