Axios

The Quaker Oats Company is recalling dozens of granola bar and cereal products for potential salmonella contamination in a new recall posted Friday.

Why it matters: The salmonella bacteria can "cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems," the company said in its recall.

The divide among venture capitalists over the development of artificial intelligence is becoming increasingly crystalized.

Why it matters: "It's the new internet," VCs say, regardless of which camp they fall into.

America is short around 3.2 million homes, a big reason why prices are still high.

• That's 2.5% of existing U.S. inventory as of 2022, according to figures that Hines, a global real estate developer and investment company, shared with Axios.

Why it matters: There aren't enough homes to keep up with the increase in households.

• Other estimates also put the size of the country's housing shortage in the millions.

More palatable mortgage rates might inspire a more active housing market in 2024, but don't expect a big shift.

Why it matters: Many homeowners and wannabe buyers stood still in 2023, waiting for rates to drop before they made a move.

When asked what she looks for in communications talent, Lulu Cheng Meservey says she likes the type of people who can carry a knife between their teeth.

Why it matters: Meservey is used to wartime communication strategies, and most recently helped to shepherd Activision Blizzard through Microsoft's $69 billion acquisition of the gaming giant, which was widely challenged by regulators in the U.S., U.K. and EU.

Misinformation can spread faster than facts, and corporate reputations are often at the mercy of social media algorithms.

Why it matters: Crisis communication plans must be able to quickly address any falsehoods and amplify the positive viral moments.

Posting your personal travel woes on social media might just lead to a solution after all.

Why it matters: The rise of social media virality has forever changed the way airlines communicate and respond to their customers in real time.

The U.S. Securities and Exchange Commission on Friday turned down Coinbase's request to create crypto-specific rules, prompting the company to file an immediate court challenge.

Why it matters: Coinbase has been waging a war against the regulator, which it views as hostile to cryptocurrency, and purposefully keeping rules murky so it can enforce them at its discretion.

The holidays have become a critical time for restaurants — and conditions are ripe for a strong showing this year.

Why it matters: With gas prices at a 2023 low, the stock market rising and consumer sentiment improving, restaurants are hoping for a merry holiday season, after recently struggling with inflation.

Public, the investing startup, is getting in on the high-yield savings game.

Driving the news: Public announced on Thursday that it would offer a zero-fee, no minimum or maximum balance cash account to anyone who signs up, with a generous 5.1% annual percentage yield. A Public subscription is not required.

Shoppers are turning to a lesser-known gold retailer for their precious metal needs – Costco.

Driving the news: The company sold $100 million in gold bars in its first quarter ending Nov. 26, Costco CFO Richard Galanti said during an earnings call Thursday.

Last night after our event, we gathered two dozen senior communications and corporate affairs professionals for dinner across the street where my Axios colleague Hope King set a pretty good ground rule for the discussion: Let's not talk about AI!

• So we didn't, and it turned into a conversation about how to actually do the job of comms during this volatile and politically charged moment in time.

Why it mattered: It can feel like so much work if communications is overtaken by responding to the latest outrage or chasing down some hot takes on how AI is going to upend everything.

• Spending an hour or two connecting about the basics was a welcome reprieve.

A BIG thanks to the hundreds of you who chose to close out the year with us at the Axios Communicators event in New York.

• Those that couldn't be there in person can watch the full interview series here.

"If you look at brands that sometimes get in trouble, it's because they were making decisions without having an eye toward the reputational aspects of the decision."

Josh Earnest, United Airlines EVP, communications and advertising, tells Axios' Hope King

The financial sector is not known for its creativity, humor and lighthearted corporate culture.

• Yes, but: Asset management firm Blackstone sought to change that in its newly released holiday video.

Why it matters: The spoof, which has more than 100,000 views on YouTube, shows how a little levity and a lot of strategic messaging can go a long way.

PR isn't what it once was, and the profession should rebrand from "public relations" to "protectors of reputation."

Why it matters: When reputations take a hit, so does the business' ability to attract customers, employees and investors.

The U.S. economy is on track to avoid a recession next year as inflation returns to normal, according to new economic projections released by the Congressional Budget Office.

Why it matters: The nonpartisan agency expects more moderate economic conditions in 2024 — including slower growth and higher jobless rates — than previously anticipated. But its projections suggest America will skirt an all-out contraction in growth.

Starbucks is softening its stance toward unionization after years of pushing back.

Why it matters: It's a potentially huge shift for the chain and a signal of the staying power of the labor movement that surged in the wake of the pandemic.

U.S. companies' debt default rates have been unusually low since 2021, but that's changing now.

What's happening: The default rate has been climbing all year, and in November it reached its historical average of 4.1%, according to S&P Global Ratings.

Leaders from America's top universities muddled their messaging before Congress, and it has cost at least one of them their job.

Why it matters: By all accounts, university leaders should have been prepared for a tense exchange with elected officials from across the aisle.

General Motors plans to lay off more than 1,300 workers at two Michigan plants, the company revealed in state documents.

Driving the news: The layoffs at the Lake Orion and Lansing plants are expected to come in January.

Axios Finish Line reader Carrie Rule, a rising professional in Axios CEO Jim VandeHei's hometown of Oshkosh, writes: "I'm embarking on a new entrepreneurial professional journey, and I'm looking for ways to structure my mornings. I'm looking for ways to prime myself for creativity and productivity."

Jim's response: I'm a huge believer in early mornings, strict routines and doing a lot before the sun rises.