The bottom line
▪ The number of cigarettes sold in the U.S. fell by 37_percent from 2001 to 2016. But revenues at U.S. tobacco com pa nies rose by 32_percent over the same period, to an estimated $93.4_billion, because the tobacco industry has increased the prices on its packs.
The Wall Street Journal
▪ Thirty-one percent of credit card holders say they’ve never redeemed any of the rewards they’ve earned, like cash back or discounts on airline tickets. Credit card companies, which depend on customers not taking full advantage of the perks offered, typically plan for about 20_percent of rewards to go unused.
▪ Yahoo CEO Marissa Mayer could walk away with about $186 million once the sale of the struggling internet pioneer to Verizon is completed in June. That figure includes stock options that will fully vest after the deal is f inalized. It does not include the millions of dollars in salary and bonuses she received over the past five years as CEO.
▪ Roughly 2,880 retail stores in the U.S. have closed this year through April_6, putting 2017 on pace for more store closings than the worst year of the recession. Credit Suisse estimates that there could be 8,640 stores closing this year, more than the 6,200 that were shuttered in 2008.
▪ Adjusted for inflation, the average American construction worker makes $5 an hour less today than in 1972, when builders earned the equivalent of $32 an hour. In the 1970s, 4 in 10 construction workers were union members. Today, it’s slightly more than 1 in 10.
Los Angeles Times