Kroger's Under Investigation For Digital Shelf Labels: Are They Changing Prices Depending On When People Shop?

Kroger, the largest supermarket chain in the U.S., is under investigation for potentially using electronic price labels to engage in surge pricing, a controversial practice typically used in industries like airlines and ride-sharing. U.S. Senators Elizabeth Warren and Bob Casey are leading the investigation, expressing concerns that Kroger's dynamic pricing model could result in higher costs for essential groceries during peak shopping times. This pricing model adjusts prices based on demand, which, while common in other sectors, raises ethical concerns when applied to everyday necessities like food.

The investigation also extends to other major retailers, such as Walmart, which recently announced plans to install digital price labels in thousands of stores. The senators worry that this technology could lead to widespread exploitation, allowing stores to increase profits by charging more when demand is high. In a letter to Kroger's CEO, they warned that this could further burden consumers, especially as Americans are already spending a significant portion of their income on food amid rising grocery costs.

Amid these concerns, Kroger defends the technology, claiming it aims to lower prices for customers. However, many Americans are struggling with food insecurity, with a recent survey showing that some have even resorted to skipping meals due to inflated grocery prices. Despite slight recent relief in grocery costs, the overall economic situation remains dire, with inflation still impacting essentials like food and rent, leaving many families financially unstable. (Full story)

Shark Tank investor Kevin O'Leary praised Elon Musk's potential involvement in government, likening him to a "modern-day Bruce Wayne" and endorsing his leadership style as beneficial for America. O'Leary expressed his admiration for Musk following the billionaire's recent interview with Donald Trump on X's live audio platform, Spaces. O'Leary argued that more leaders like Musk in government could help bridge the nation's divisions. He contrasted Musk's competence with the economic management of Minnesota Governor Tim Walz, whom he criticized for job losses in various sectors, suggesting that Musk's skills could drive national improvement. (Full story)

Warren Buffett, one of the world's wealthiest individuals with a net worth of $137.8 billion, is known for his modest lifestyle, exemplified by his long-term residence in the same Omaha home he purchased in 1958 for $31,500. Despite its current value of $1.439 million, Buffett regards his home as his third-best investment, though he acknowledges he would have accumulated more wealth by renting and investing in stocks. Generally favoring investments in real estate through REITs, Buffett only deviated once to purchase a farm, which continues to yield significant returns. He cautions against the financial risks of homeownership, particularly for younger generations facing rising costs and insurance premiums. In response, fractional real estate investing is emerging as a solution, allowing individuals to invest in real estate with minimal capital, thereby offering an alternative path to wealth accumulation. (Full story)

A former Twitter employee, Gary Rooney, won a €550,000 ($600,000) settlement after being terminated for not complying with Elon Musk's demand for an "extremely hardcore" work culture following Musk's acquisition of the platform. Rooney, who worked at Twitter's European headquarters in Dublin, did not respond to an email from Musk requiring employees to commit to "Twitter 2.0" or face resignation. Although Twitter claimed Rooney's failure to respond constituted resignation, he denied resigning and later testified that he suspected the email might be malicious software. Ireland's Workplace Relations Commission ruled in Rooney's favor, deeming the 24-hour notice period unreasonable and awarding him lost remuneration and future earnings. The case has drawn further attention to Musk's controversial employee termination practices.(Full story)

Jen Glantz, best-selling author and founder of Bridesmaid for Hire, has been working towards retiring as a millionaire for two years, but she realized her plan needed adjustments after consulting with fiduciary financial adviser Adam Scherer. Glantz had inconsistently contributed to her SEP IRA, lacked tax diversification, and did not have a solid retirement income plan or adequate passive income streams. Scherer advised automating her SEP IRA contributions, diversifying her retirement accounts to reduce tax burdens, and creating additional income streams through investments. While aiming for $1 million, experts like Scherer and equity fund manager Grant Cardone emphasized that due to inflation and rising costs, a higher retirement target and robust passive income are essential for financial security. (Full story)