Good morning. The Morning Brew family is getting so big we're like a Steve Martin-led comedy from the early 2000s. And we're so so so so pumped about the newest addition: Money with Katie. Katie will be your go-to source for content on spending habits, investing, and tax strategies—in a way that won't put you to sleep and will likely make you laugh. Throw her a follow on Instagram. —Neal Freyman, Max Knoblauch | | | |  | Nasdaq | 14,346.00 | | | | | S&P | 4,546.54 | | | | | Dow | 35,405.24 | | | | | 10-Year | 1.792% | | | | | Bitcoin | $38,656.89 | | | | | Alphabet | $2,752.88 | | | | *Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: After an especially dry January, stocks have mounted their biggest three-day rally since 2020, led by banks and energy. Tech shares could get a boost today thanks to Google parent Alphabet, which posted a huge earnings beat and soared in after hours trading. It also announced a 20-for-1 stock split to make its shares more accessible to smaller traders.
- Covid: In a moment many parents of young kids have been waiting for, Pfizer asked the FDA to authorize its two-dose Covid shot for children under 5 years old. Those 19 million smol beans represent the only age group that isn't currently eligible to get a Covid vaccine.
| | Michael Reaves/Getty Images Brian Flores, the former head coach of the Miami Dolphins, sued the NFL and each of its 32 teams, alleging racial discrimination in their hiring practices for Black coaches. The suit, which was filed as a proposed class action, specifically calls out the New York Giants, Denver Broncos, and the Dolphins—the latter of which recently fired Flores after two straight winning seasons—for discriminatory practices. Some examples: - The lawsuit accuses Dolphins owner Stephen Ross of bribing Flores to have the team "tank" (offering him $100,000 for each loss) ahead of the 2019 season in order to secure a better draft pick.
- Flores accused the Giants of conducting a "sham" interview with him in order to fulfill the Rooney Rule, which requires teams to interview Black applicants for open positions. The Giants responded that Flores was in the conversation "until the eleventh hour" before they went with someone else.
- Flores claims that he was also not taken seriously as a candidate for the Denver Broncos head coaching position when he interviewed there. Then-general manager John Elway and others in his crew allegedly showed up to the interview an hour late and seemed like they were hungover. The Broncos said the accusations were "blatantly false."
Big picture: The NFL has long been criticized for the lack of minority representation in its coaching ranks. Despite ~70% of the league's players being Black, it currently has only one Black head coach. In a statement, the NFL responded that "diversity is core to everything we do" and it will "defend against these claims, which are without merit." What does Flores want? Among other changes, he's asked a judge for... - Unspecified damages.
- More pay transparency for GMs, head coaches, and coordinators.
- More Black people involved in the hiring process and more objectivity in the hiring/firing of coaches and front office roles.
Bottom line: Flores acknowledged in a statement that he is risking future career opportunities in the NFL by suing the league. "My sincere hope is that by standing up against systemic racism in the NFL, others will join me to ensure that positive change is made for generations to come," he said.—NF | | Chip Somodevilla/Getty Images The number of people who died in motor vehicle crashes surged to 31,720 in the first nine months of 2021, the government reported yesterday. - It's the biggest nine-month tally in 15 years.
- It's also 12% higher than in the same time frame in 2020, making it the biggest percentage increase over a nine-month period since records began in 1975.
You might be thinking that the spike can be attributed to a lower number of traffic deaths in 2020, when Covid kept us indoors, but the opposite is true: US traffic fatalities that year jumped to their highest levels since 2007—despite the number of vehicle-miles traveled on roads plummeting 13%. What's going on? The National Highway Traffic Safety Administration (NHTSA) has cited more reckless driving since the pandemic began, including drivers not wearing seatbelts and blowing through speed limits. - But Transportation Secretary Pete Buttigieg, who called the surge in road deaths a "national crisis," thinks blaming humans won't solve anything. "People make mistakes, but human mistakes don't always have to be lethal."
According to Buttigieg, the key to bringing down traffic deaths is a combo of redesigning roads to be safer, boosting safety standards for vehicles, and incorporating technology like automated braking into vehicles. | | Francis Scialabba There's a reason they don't call it Medium Oil, folks. Fueled by soaring energy prices, Exxon Mobil reported annual profits of $23 billion last year—the company's largest total since 2014. - Exxon's 2021 gain is a full 180 from its 2020 performance, when the company lost $22.4 billion as demand for oil collapsed.
Zoom out: Things are looking up for the entire sector thanks to a rebound in energy consumption as governments tapered Covid measures. Exxon's competitor, Chevron, also recently posted its most profitable year since 2014 when it put $15.6 billion in the bank. What'll they do with the money? Well for one, keep producing oil and gas. In the Permian Basin of West Texas, Exxon plans to increase oil production by 25% in 2022. The company is also saying "thx" to investors who stuck around, announcing plans to buy back as much as $10 billion in shares over the next two years. - The S&P 500 energy sector is up about 23% so far in 2022, compared to the broader index, which is down about 5% on the year.
And the climate? In January, Exxon pledged to reduce or offset emissions from its operations to zero by 2050—though that doesn't include most of the emissions associated with the company, which come from its products actually being used.—MK | | | Here are the deets: If you're an IT decision-maker at a US-based company with 10–500 employees, you'll get a free pair of Beats Solo3 Wireless Headphones for taking a qualified meeting with Electric about upgrading your IT strategy. Now, let's turn this up to volume 11: Electric offers lightning-fast, chat-based support and streamlined employee onboarding and offboarding, including access management. And they have a 105% ROI. No wonder 700+ companies have turned to Electric for better IT. Leaving IT tasks to the experts also frees up your time to focus on the bigger, more strategic projects impacting your bottom line. Over 50% reduction in IT costs doesn't hurt either. Get started and collect your free pair of Beats here. | | Columbia Pictures Quote: "This is one time where television really fails to capture the true excitement of a large squirrel predicting the weather." Bill Murray enthusiastically wishes all of you a Happy Groundhog Day. Stat: Employees at 54 Starbucks stores across 19 states are petitioning to unionize, just weeks after baristas formed the first union at a corporate-owned location in Buffalo. Talk about a chain reaction.  Read: The new hire who showed up is not the same person we interviewed. (Ask a Manager) | | Francis Scialabba Even if you feel guilty about the occasional Mario Kart grand prix during an all-staff meeting, working from home is proving to be a benefit to both employees and employers. The latest results of a monthly survey of 4,000 US workers provide a few interesting insights about WFH. The January survey, which polled workers aged 20 to 64, showed: - Remote workers save about one full hour every day by not commuting.
- Another 10 minutes is saved by skipping grooming tasks like showering, shaving, and putting on makeup.
So, while rolling out of bed and opening Slack may feel disgusting, it's actually nearing peak human efficiency. But, the benefit isn't just for workers who get to avoid buying button-downs at Nordstrom Rack: Of those 70 daily minutes saved, about 30 minutes are spent working, which tacks on an additional two and a half hours onto the workweek. And employees don't seem to mind the extra labor, as the average worker plans to stay remote for two days a week even after the pandemic ends. Two bonus stats: 1) About 10% fewer people use an alarm clock when WFH and 2) workers who commute spend about 28 minutes getting ready, compared to 19 minutes for remote employees.—MK | | - Tom Brady, who lost to the Philadelphia Eagles in the Super Bowl in 2018, officially announced his retirement from the NFL after 22 seasons and seven championship rings.
- Whoopi Goldberg was suspended from The View for two weeks after she said the Holocaust was not about race.
- Native American tribes reached a $590 million opioid settlement with Johnson & Johnson and three leading drug distributors.
- Graham Nash and India Arie are the latest musicians to remove their music from Spotify over its relationship with Joe Rogan.
- Home Depot said it could send an offer to job candidates within one day of applying as part of its "accelerated" hiring process.
| | TOGETHER WITH YIELDSTREET | | Invest in icons of the Harlem Renaissance. Black and female artists historically have been underrepresented in the blue-chip art market. But in Yieldstreet's Art Equity Fund II, these artists are the singular focus. This portfolio of artwork features creators inspired by the Harlem Renaissance, from historic pioneers like Jacob Lawrence to modern artists like Faith Ringgold. Make your most creative investment yet. | | Word search: How well do you know your Lunar zodiac symbols? Find out by playing our puzzle. Find the missing link What do the following names all have in common? Kara's Flowers, The Warlocks, On a Friday, Tony Flow and the Miraculously Majestic Masters of Mayhem, Starfish | | They're all previous names of popular bands. Kara's Flowers became Maroon 5.
The Warlocks became The Grateful Dead.
On a Friday became Radiohead.
Tony Flow and the Miraculously Majestic Masters of Mayhem became The Red Hot Chili Peppers.
Starfish became Coldplay. | | | Written by Neal Freyman and Max Knoblauch Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
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