The Daily Valet. - 10/24/19, Thursday
✔️ Living High on the Hog
Thursday, October 24th Edition
When you’re done with this newsletter, you’re going to want a BLT. Or maybe a Scotch.
Cory Ohlendorf , Editor ⋯ @coryohlendorf
Today’s Big Story
We’re Living High on the Hog
America’s bacon surplus is the biggest in half a century
America is sitting on a very large pile of uneaten bacon, reports Bloomberg. How large? Imagine 40 million pounds of the stuff. Because that's exactly how much was being stored in refrigerated warehouses at the end of September—the most for any month since 1971.
The overhang came after a "build up in the American hog herd." Over the summer, hog farmers amped up herds anticipating an increase in demand from China, where African swine fever decimated much of their pig population. So while our surpluses are high now, exports to China (as well as Mexico) are hitting record highs.
Which means this glut in pork bellies (the cut used for bacon) may soon shrink as China ups its buying. Dennis Smith, senior account executive at Archer Financial Services Inc, told Bloomberg that the theory is that if America continues exporting, "it’ll eventually create a belly shortage," if all goes according to plan.
What's more, China's lack of domestic pork may actually push bacon prices up worldwide. So, I guess the big takeaway here is to pick up some bacon (or a McRib?) while it's still available and affordable.
Zuckerberg Takes Some Lumps From Congress
I don’t think this went as planned
The Washington Post sums up yesterday's testimony in front of members of the House Financial Services Committee succinctly yet brutally: "Congressional lawmakers delivered a broad lashing of Facebook chief executive Mark Zuckerberg on Wednesday, sniping at his company’s plans to launch a digital currency, its pockmarked track record on privacy and diversity, and its struggles to prevent the spread of misinformation."
The hearing was supposed to be about the social media giant's Libra crypto currency, but wound up being about pretty much any Facebook-related issue. Alexandria Ocasio-Cortez asked about running ads full of false information. It's clear the controversy over Facebook’s allowing political advertising that makes false claims isn’t going away anytime soon.
Zuckerberg took questions for six hours and House members from both sides of the aisle expressed dissatisfaction with the lengthy testimony. The CEO struggled to satisfy members of the committee, who are concerned about regulation and the governance structure surrounding Libra, and its potential to negatively disrupt the global financial system.
And if you'll indulge me for a second ... I don't want to take a cheap shot here, but is everyone as equally distracted by the guy's hair as I am? He makes so much money, I wonder who or what cuts his hair? An AI-powered machine? A barber who doesn't have the guts to tell him that this isn't the haircut of a modern man? He's clearly committed to it. Maybe it's more of a tactic and less of a stylistic choice, but I say this would be an important place to start in addressing his overall image issues.
Do You Tip Your Driver?
Economists analyzed 40 million Uber trips and here’s what they found
Most of us take Ubers. Or perhaps you, like myself, prefer Lyft. In any case, when the ride wraps up and you get out of the car, do you tip your driver? In honesty, I don't always tip my driver. Typically, it's only when they've been particularly pleasant or gone above and beyond—helping with luggage, extending a charging cord or generous with the air conditioning. Should I tip more regularly? I'm not sure. But, of course, no one wants to be thought of as a bad tipper.
We all have theories or stereotypes about who tips best and which workers earn the most, but honest-to-goodness tipping facts are rare. Economists struggle to get data on gratuities, even though they total about $36.4 billion each year in the US alone, according to The Washington Post.
Which is why the National Bureau of Economic Research launched a "Nationwide Tipping Field Experiment," which just reported its findings. Turns out, nearly 60 percent of Uber riders never leave a tip, while only one percent always do. And for those who tip, the average given to the driver is $3, according to the analysis.
↦ Men Tip More: The economists found that women tip 14.3 percent of the time, while men tip 17.0 percent of the time.
If Anyone Deserves His Very Own Scotch ...
... It’s probably Nick Offerman, right?
Actor, comedian and whisky enthusiast Nick Offerman has long been something of an offbeat spokesperson for Lagavulin Scotch. After all, over the course of seven seasons on Parks & Recreation, his character Ron Swanson was essentially known for two things: his desire to dismantle the government from within, and his undying love for Lagavulin.
His devotion was well documented. He even filmed a 45-minute "Yule log" style video of him just sipping some single malt in front of a roaring fireplace. Now, he has his very own bottle to brag about. The Lagavulin Offerman Edition Aged 11 Years clocks in at 92-proof and is available now (for about $74.99).
The bottle even sports the actor's portrait along with a quote: “I have traveled the world and sampled many attempts at pleasing nectars, but it is solely this distillation of Islay; a tiny, charismatic Scottish isle, that has claimed my palate.”
↦ Feeling Sick? If you start to feel like you might be coming down with something, relief could be found in a bottle of bourbon.
Other Things We’re Talking About Today
+
Consider This Your Fitness Hack
Jump rope for just ten minutes and get fit
Today on Valet., we look at why so many trainers swear by one of the oldest pieces of fitness equipment around—the jump rope. It's not out of nostalgia. It's because those simple ropes are a convenient way to get in some serious heart rate-revving conditioning.
It turns out, jumping rope is roughly the equivalent of running at an eight-minute-mile pace, plus it still beats intense exercises like swimming and rowing in terms of calories burned. We also give you an easy ten-minute interval workout to do at home, along with some suggestions on the best ropes to buy.
↦ Hop to it: Why the humble jump rope is the most underated piece of gym equipment.
Weekend Shopping Plans
From Japanese-exclusive jackets to work-ready pants, our picks from three can’t-miss sales going on this weekend.
Up to 60% offselect items
Coach's jacket $118 / $81.99
Extra 50% off sale items w/code MIDSALE
Alpha Khaki pants $72 / $27.48
Up to 50% offaccessories
Noise-canceling wireless headphones $349.95 / $249.95
Special Promotion
Dubbed “the ultimate business backpack and travel bag combo,” the Knack Pack has just been upgraded based on feedback from the customers who have taken the bag to work on a daily basis and traveled all around the world. New security features like lockable zippers and RFID blocking pockets protect your goods while a reengineered shoulder strap make it even more comfortable to carry. They’ve even added an anti-microbial treatment to the lining to keep you healthier on the road. Get a high quality bag today and receive free shipping w/code VALET
↦ Get It Starting at $165 by Knack
Morning Motto
Keep at it. Even the subtlest of changes can make a big difference.
↦ Follow: @roy_cranston
That’s all for today...
Valet Media LLC350 Lincoln Road, 2nd FloorMiami Beach, FL 33139[email protected]