Lee Enterprises on Wednesday said its board of directors unanimously voted to adopt a new measure that would make it harder for Alden Global Capital — a hedge fund known for consolidating local newspapers — to buy out the publicly-traded firm.
Why it matters: Lawmakers, local reporters and journalism advocates have been sounding the alarm over Alden's unsolicited bid. Alden is known for buying local newspaper companies and instituting deep cuts to squeeze profits.
Shoppers across the nation flocked to malls and major retailers Friday in search of "Black Friday" deals. About 158 million people were expected to shop in stores or online between Thursday and the end of the day Monday, according to the National Retail Federation.
Why it matters: Retailers hope a desire to return to holiday traditions will translate to big spending during the annual post-Thanksgiving sales events, even in the face of supply chain issues and rising prices due to inflation, as Axios' Hope King reported.
Retailers will open more stores this year than they close — for the first time since 2017, The Wall Street Journal reports from an analysis of 900+ chains by research company IHL Group.
Why it matters: "Stores have become integral in fulfilling e-commerce orders. They serve as distribution hubs and convenient places for shoppers to pick up and return online purchases," The Journal writes.
Inflation is driving prices up, but that's not keeping people out of stores.
What's happening: Retail sales climbed for the third straight month in October — and industry experts say holiday shopping could come roaring back this year after a pandemic-induced slump last year.
America's supply chain crisis, which has driven prices higher and made all sorts of goods harder to find, may last long after the holiday season.
The big picture: If goods aren't off a boat by now, it's highly unlikely that they'll make it onto store shelves before Christmas. And there are dozens and dozens of ships anchored offshore at the country's biggest ports.
The Transportation Security Administration said it screened more than 2.3 million airline passengers on Wednesday — the highest number since the start of the pandemic and more than double the number of people who passed through TSA security checkpoints on the same day last year.
Driving the news: TSA said last week it expects to screen about 20 million air passengers during the Thanksgiving travel period this year.
The annual Macy's Thanksgiving Day parade in New York City was back with fanfare on Thursday, after last year's festivities were scaled back due to the pandemic.
The big picture: The 95th annual parade featured new floats, marching bands, music stars, Santa and others, who made their way through the 2.5-mile route lined with cheering crowds. Last year's parade route was reduced to just one largely spectator-less block.
The route that your turkey took on its way to your table this year was beset by extreme weather, global supply-chain issues and labor shortages — many of the same factors contributing to the "Everything Shortage."
The big picture: Our Axios Local teams have turned their eye to each piece of the turkey supply chain — from Iowa, one of the top producers of animal feed nationwide; to Minnesota, the biggest turkey producer; to Arkansas, home of Walmart, the country's largest retailer.
Americans are itching to get back into their holiday traditions this year — including the traditional post-Thanksgiving shopping blitz.
Why it matters: Black Friday and Cyber Monday aren't the seismic economic and cultural events they used to be, and supply-chain issues have put a damper on things this year, but retailers expect shoppers to come back after a year of isolation — and to spend big.
Vegan bakers and chefs across the country are facing unprecedented demand as households prepare to cater to a growing number of vegans, vegetarians and "flexitarians" at Thanksgiving this year.
Why it matters: With the continued rise of plant-based meat sales and more meat-eaters opting for alternative meat products, this year's Thanksgiving is set to be America's most vegan-friendly yet.
The Biden administration approved Wednesday plans for a major offshore wind farm to supply power to New York.
Why it matters: The approval for the installation of a dozen turbines near Rhode Island marks a major step in the administration's goal of reaching 30 gigawatts of offshore wind-generating capacity in U.S. waters by 2030, powering more than 10 million homes.
The Biden administration will begin requiring essential travelers crossing U.S. borders to be fully vaccinated starting Jan. 22, a White House spokesperson told Axios Wednesday.
Why it matters: The move comes after the U.S. opened land borders with Canada and Mexico to non-essential travel in November, but only to those fully vaccinated against the coronavirus.
People are journeying across the U.S. en masse this week to commemorate the Thanksgiving holiday, with air travel closing in on pre-pandemic levels after more than a year of COVID.
Why it matters: Last Thanksgiving, theCenters for Disease Control and Prevention urged Americans not to travel because of the pandemic. One year later, the total number of people traveling for the holiday by car, bus, train or plane is expected to cross 53 million, or 95% of 2019 levels.
