The largest fast-food company in the world -- with about 24,000 stores -- was once known for its rapid expansion mindset. Now, Subway is closing stores faster than ever and pushing out franchise owners in the process.
In a recent report by the New York Times, franchisees across the country said that seemingly tiny violations, like cucumbers cut too thick and smudges on glass doors, have cost them their businesses. And when they try appeal to Subway's corporate leadership? They rarely get a response.
This week on Money Talking, guest host Ilya Marritz talks to Tiffany Hsu, a business reporter at the New York Times who co-reported the piece, about how Subway's efforts to scale back have impacted franchisees.
Is a New Space Race on the Horizon?
Next week marks fifty years since Neil Armstrong took “one small step” on the moon’s surface. The Apollo 11 mission was an historic voyage, fulfilling President John F. Kennedy’s goal of reaching the moon by the end of the 1960s. More than half a billion people watched the astronauts live on television. But in the years that followed, America’s interest and commitment to space exploration largely disappeared.
Yet the country’s ambitions in space are far from over. In March of this year, Vice President Mike Pence expressed a renewed sense of urgency.
“Make no mistake about it — we're in a space race today, just as we were in the 1960s, and the stakes are even higher,” he told attendees at a meeting of the National Space Council in Alabama.
At the same meeting, Pence presented a new timeline for landing humans on the moon again: Within the next five years, four years sooner than the administration's initial timeline of 2028, leaving some to wonder if a new space race could be on the horizon.
This week on Money Talking, Charlie Herman talks to Tim Fernholz, a reporter at Quartz covering space and author of Rocket Billionaires: Elon Musk, Jeff Bezos and the New Psace Race, about the latest chapter of space exploration.
From Wall Street to Walmart, Businesses Embrace Pride
This weekend marks the 50th anniversary of the Stonewall Riots and the birth of the modern gay rights movement in this country. Over the intervening years as attitudes towards LGBTQ people have changed, corporate America has taken note. Whether it's McDonald's selling special-edition “Pride Fries” or Walmart’s (online) Pride Shop, companies have very publicly been displaying support for the community over the last few years.
It’s a dramatic shift from the days of Anita Bryant and Florida orange juice or companies like Wendy’s pulling their advertisements after Ellen came out on her sitcom. The greater acceptance of the LGBTQ community has presented an opportunity for businesses. While some take issue with companies commercializing this weekend's pride events, it’s hard to ignore how much mainstream businesses have embraced LGBTQ culture and consumers.
This week on Money Talking, Charlie Herman talks to Jim Ellis, assistant managing editor at Bloomberg Businessweek, about the business of pride past, present, and future.
Business Leaders Find A Friend in Trump
Corporate influence is no stranger to politics, but many businesses have found more support for their priorities in the Trump administration. Up until now, one influential group has flown under the radar, the Trump Leadership Council. A recent report from Rolling Stone names members of the group.
The Council dates back to the summer before the 2016 election. Though it went unnoticed at the time, the group's members consist of powerful business leaders from many of the nation's biggest industries who have pushed for policies such as a tougher trade stance with China and a rollback of environmental protections at the EPA.
This week on Money Talking, Charlie Herman talks to Andy Kroll, DC bureau chief for Rolling Stone, about his story "The Shadow Cabinet: How a Group of Powerful Business Leaders Drove Trump’s Agenda."
Murder! Scandal! Bankruptcy! The History of the Plaza Hotel
The Plaza Hotel is a New York City icon. The eighteen-story white marble building is the home of Eloise, the mischievous six-year-old who lived in the "room on the tippy-top floor" in the classic children's book series. Both the Beatles and the taxicab made their statewide debuts outside the Plaza. And it’s had a featured role in more movies and television shows than some actors in Hollywood, from Home Alone 2 to The Sopranos.
Since it opened in 1907, the story of the Plaza has been the story of New York. Its history is littered with colorful guests, financial uncertainty, and a controversial transformation from hotel to a multimillion-dollar condominium.
This week on Money Talking, Charlie Herman talks to journalist Julie Satow about the past and present of the Plaza Hotel. In her new book, The Plaza: The Secret Life of America's Most Famous Hotel, Satow shares never-before-told stories about the iconic hotel from its murderous origins to its bankruptcy under Donald Trump.