Lows

...And who's down

Snacks / Monday, January 06, 2020

Ever wanted to charge Uber surge pricing?... That's kinda what California is doing. The AB5 "gig law" would treat drivers like actual employees, not independent contractors — that could raise the ride-hailer's costs by 30%. So Uber and Postmates sued California because they feel singled-out as an industry (their words: AB5 is "irrational and unconstitutional"). The law took effect on January 1st, so Uber's pulling an Uber and won't comply while it fights.

Pump anxiety... Airlines are feeling it. Fresh after the US killed Iran's top general, oil prices immediately jumped 4% to $68.60 (Middle East oil trade is a fragile thing). US airline stocks immediately fell, led down by American Airlines — that fuel makes up about 24% of their total costs. Good thing the growing US economy just landed airlines' their 10th-straight profitable year.

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