TTI Composite Stock Index
The TTI Composite Stock Index was up 1% between December 10, 2021 and January 7, 2022. The Dow Jones Average was up .07% and the NASDAQ was down -4.4% over the same period. For more information see the TTI Composite Toy Stock Index of this report.
Spot Rate Container Prices Up
The cost of a container from Shanghai to New York or Los Angeles was up 3% and Shanghai to Rotterdam remained flat from December 23, 2021 to January 6, 2022. For more information see the World 40 Foot Container Spot Rate section of this report.
Trucking Problems Hit Port of Ningbo
A suspension of trucking services in several parts of China’s Zhejiang province has slowed the transportation of manufactured goods and commodities through one of the world’s most important ports.
There are strict controls on lorries moving goods to or from the Beilun district in Ningbo after the discovery of several cases of Covid-19 in the area, shipping line Maersk said in a recent customer advisory.
This suspension, along with restrictions on truckers in some areas in and around Zhejiang, has halted operations at some yards and warehouses at Ningbo port.
"Trucking Snarls Near Key Chinese Port May Cost Economy $4 Billion a Week," Ann Koh, Bloomberg News, January 8, 2022
Former McDonald's CEO Cautions About Baby Boomer Retirements' Impact on the Labor Market
McDonald's former CEO is warning of an impending "catastrophe" for the labor market as Baby Boomers — and their children — begin to reach retirement age.
"The retirement numbers are going to start to accelerate, and there's going to be a lot of upward mobility because they're leaving the workforce, which is going to leave a shortage at the bottom end," Rensi said. "And, boy, we're feeling it big time at restaurants, barbershops, day-care centers. It's a nightmare."
A July survey of about 1,300 American household heads conducted by the Federal Reserve Bank of New York found that nearly half of respondents expected to retire before turning 62. At the same time, the share of respondents who expect to keep working after they turn 67 fell to a record low of 32.4%.
"A former McDonald's CEO warns that a surge in retiring baby boomers amid ongoing hiring struggles will lead to a 'catastrophe',"Avery Hartmans, Business Insider, January 5, 2022
Chris Cocks, Hasbro's New CEO, Will Face a Cultural Challenge
Congratulations to Chris Cocks, Hasbro's new CEO. I am very interested in the cultural challenge he will face. Hasbro has been run by family members and company insiders throughout its history. All were long-time toy industry veterans and steeped in Hasbro's east coast culture.
Mr. Cocks is relatively new to the toy industry, having begun his career with Wizards of the Coast in 2016, a Hasbro subsidiary company. Before coming on board with Hasbro, Mr. Cocks was a 14-year Microsoft veteran.
Mr. Cocks will have to find harmony between his west coast background and his new east coast environment. Those of us steeped in east coast toy culture know it will be a challenge. We wish him only success.