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The dockworkers’ strike could hit Americans where it hurts: Bananas

For decades, American consumers have been particularly drawn to produce that cannot be grown near where they live.

10/2/24 12:39PM

Bananas are the most popular fruit in the United States. Virtually all of them enter the country through US ports. 

Americans’ taste for imported foods is on full display as 45,000 dockworkers strike, putting a halt on shipments to East Coast and Gulf Coast ports for a second day now. 

Those ports handle shipments of non-perishable goods like car parts, but also things like fruits and vegetables that could make some produce temporarily more expensive just as food prices were starting to flatten. 

Americans, for decades, have been drawn to produce that cannot be grown anywhere near where they live.

More than 60% of fruits consumed in the US are imported, according to the US Department of Agriculture, up from 23.5% in 1975. About 75% of bananas imported to the US come in through ports that are currently at a halt, according to the American Farm Bureau Federation.

America’s vast farmland is really good for growing corn and soy, and a lot of it is exported. It does not produce bananas, avocados and dozens of other fruits Americans love. 

Bananas only grow in tropical regions. American companies have for decades relied on (exploited) communities in Central and South America to satisfy our cravings for the classic smoothie ingredient and cereal topping.  

Avocados and mangos have also grown in popularity with Americans. Imports of papayas, though still a sliver of the aforementioned tropical fruits, have more than doubled since 2020.

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Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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