The Daily Valet. - 2/3/20, Monday
✔️ The Big Games and Highs and Lows
Monday, February 3rd Edition
Reading this on your way to work (instead of calling in sick)? Good for you!
Cory Ohlendorf , Editor ⋯ @coryohlendorf
↦ Also: I’m heading to Tokyo this week ...
↦ While I’d love to keep this newsletter going while away, a 14-hour time difference and my hope of staying out late exploring, eating and singing karaoke will make that impossible.
↦ But I’ll be back on Tuesday, February 11th.
Today’s Big Story
Kansas City Wins the Big Game
And the losers were all of us who ate way too many nachos and wings
It took 50 years, but the Kansas City Chiefs are Super Bowl champions once again, after Patrick Mahomes engineered a stirring fourth-quarter comeback Sunday to beat the San Francisco 49ers, 31-20, at a raucous Hard Rock Stadium in Miami.
The 24-year-old Mahomes had looked pretty shaky for much of the game, throwing two second-half interceptions as his team fell behind by 10 points. But they rallied to come back from a 10-point, fourth-quarter deficit.
“I mean we never lost faith ... that’s the biggest thing,” Mahomes said in an on-field interview immediately after the clock ran out. He's now the youngest player named Super Bowl most valuable player—just one year after he had become the youngest player named league M.V.P.
The whole night was a wild pendulum of highs and lows. The commercials were either extremely goofy or morose tear-jerkers. And despite streaming being the future of television, no one is interested in streaming the Super Bowl, apparently.
And while the attendance at Hard Rock Stadium was 62,417, making the Super Bowl LIV crowd the second smallest ever, the high-energy halftime felt bigger than ever, thanks to co-headliners Jennifer Lopez and Shakira.
The dazzling production, which also marked the first time in Super Bowl history that two Latina artists took the halftime stage together, was brimming with both feminine energy and sociopolitcal symbolism.
↦ The Commercials: The cost of a 30-second commercial spot for Super Bowl 54 was about $5.6 million, according to AdAge. That's nearly half a million more than last year.
This Is the “Sickest Sick Day” In America
The $4 billion reason to never play the Super Bowl on Sunday again
If you or one of your colleagues called in sick today, it's actually way more common than you might think.
The Monday after the Super Bowl is said to be the "Biggest Sick Day in America," according to a recent survey by The Workforce Institute at Kronos.
Over 11.1 million employees say they will likely use preapproved time-off, but nearly 5 million plan to call in sick even though they’re really not ill and 1.5 million employees will be ghosting their bosses and hoping for the best. That means Monday’s bout of "Super Bowl Fever" will saddle businesses with approximately $4.2 billion in labor disruptions.
Which is perhaps why debates over whether the Monday following the Super Bowl should be a national holiday have become almost as big a national pastime as the Big Game itself.
↦ Super Bowl Saturday? One disgruntled teen's Change.org petition to shift the date to Saturday has already gathered more than 75,000 signatures.
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Britain Officially Exited
What comes next is a little tricky ...
The United Kingdom has officially left the European Union—more than three and a half years after UK voters supported a referendum to leave.
According to CNN, Britain's economic future and place in the world have not been this uncertain since the end of World War II. Brexit has ended the careers of two Prime Ministers and left the very future of the UK in question.
Prime Minister Boris Johnson acknowledged that the country was divided: "For many people this is an astonishing moment of hope ... and there are many of course who feel a sense of anxiety and loss ... I understand all those feelings, and our job as the government is to bring this country together now and take us forward."
In the meantime, Johnson signed a deal with the European Union that provides a transition period that ends on December 31st—regardless of whether they have reached a formal exit deal or not. In the meantime, EU laws and regulations will continue to apply to the UK.
↦ FYI: According to the Associated Press, the EU accounted for 54% of Britain’s imports and 43% of its exports in 2016.
So Much for the Avocado Toast Theory
Young people are saving more for retirement than previous generations
Ellen Zentner, the chief United States economist at Morgan Stanley, had an interesting OpEd in the New York Times this weekend.
She pointed out that while Millennials are burdened by student loans and delayed professional growth (and earnings), new data shows they have saved more for retirement than Gen Xers did at the same age.
No doubt, living through the 2008 financial crisis as young adults and being told that Social Security in its current form may not be available to them when they retire have played a role in millennials’ retirement prepping. But there are other reasons: 401(k)s are more widely available today than they were for Gen Xers, and more companies are automatically enrolling new employees in them.
Similar findings were uncovered this fall by asset manager Schroders, reports CNBC. They revealed those aged between 18 and 37 are saving nearly 16% of their annual income away for retirement, including employer contributions. As someone who's just made his final student loan payment, I'm looking forward to stashing a little more into the old savings account.
Other Things We’re Talking About Today
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Why You Should Splurge on Shoes
Pay good money now and feel the difference for years
A new decade is here and with it, comes our plan to invest in the best items we can. Value has always been something that we’ve prized at Valet. That doesn’t necessarily mean something has to be inexpensive. It means that the item is valuable—worthy of the cost.
To buy well means that you’ve bought something that will serve you for years to come. Welcome to the "Ultimate Investments," a week-long roundup of the best buys for 2020 and beyond. First up? Shoes.
When it comes to cost-per-wear, a good pair of shoes has to deliver the most value of any item in a man’s closet. Of course, you will probably not need every kind of shoe on this list, but there’s no doubt a few that could serve you well for years to come.
↦ Check it Out: The ten shoes worth investing in.
What We’re Buying
Make your dad proud and rock the modern version of his go-to jacket in high school—the washed jean jacket. It was the hottest thing in the '80s and '90s it's back, better than ever. This one, from Old Navy, is already discounted and they're tossing another 25% off on top of it. Unlike other denim jackets, this one includes a tougher cotton weave that ensures two times the strength and tear resistance, but doesn't restrict because it also includes some flex to keep you comfortable.
↦ Get It $59.99 / $31.20 at Old Navy
Today’s Deals
Expires 2/4
Expires 2/4
Expires 2/22
↦ Want More? See all 48 sales
Morning Motto
Set your intentions carefully for the week.
↦ Follow: @furthermore
That’s all for today...
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