Stories by Christopher Matthews

Report: Shutdown could cost U.S. economy $6.5 billion a week

A picture of the U.S. Capitol building
Photo: Mandel Ngan / AFP / Getty Images

A government shutdown will reduce U.S. GDP in the first quarter of 2018 by upwards of 0.2%—or $6.5 billion—each week it continues, according to Beth Ann Bovino, chief U.S. economist for S&P Global Ratings.

Why it's so costly: Roughly half of the hit results from the lost production of non-essential government workers.

  • After previous shutdowns, Congress has agreed to repay furloughed workers for their lost wages, but the economy did not regain their lost productivity since they were barred from working while the government was closed.

Amazon froze out cities with poor public transit

Downtown Detroit. Photo:Raymond Boyd / Getty

Robust public transportation infrastructure proved key to making the first, top-20 cut in the red-hot competition to host Amazon's second headquarters, according to a study of the company's search.

What happened: Cities like Detroit and Phoenix, which were widely expected to be short-listed, were hurt by their lack of public transportation and high congestion, says Jason Horwitz of Anderson Economic Group, a consulting firm.

The retail stores that don't care if you buy anything

Photo illustration: Axios Visuals

Two years ago, B8TA launched as a physical outlet for tech gadgets otherwise sold only online, but it's now being embraced by traditional chains. Its secret sauce: introducing consumers to new product concepts, and not necessarily selling them anything.

Quick take: CEO Vibhu Norby's approach makes B8TA look as much a media company as a retailer, something he sees as a long-term trend.

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