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Bold TV: What are the Paradise Papers?

What are the Paradise Papers? What's Amazon up to now? And what's different about a millennial's vacation? All this and more with Gen FKD's David Grasso and former Miss America Kirsten Haglund!

Posted by BoldTV on Thursday, November 9, 2017


Paradise Papers Exposed

Our first headline comes to us from The International Consortium of Investigative Journalists and is about a trove of leaked documents regarding the financial dealings of the 1 percent.

Approximately 13.4 million records of offshore accounts have been exposed, showing complex ties between more than 120 high-ranking politicians, privately wealthy individuals and large corporations.

The documents are being called the Paradise Papers. They describe the offshore business dealings of entities around the world, including the U.S. Secretary of Commerce, Russian government officials, the chief fundraiser for the prime minister of Canada, and several huge global companies including Apple, Nike and Uber that avoid paying taxes through the creative use of offshore accounts.

Amazon discounts third-party inventory with company money

Our next headline comes to us from Axios, and it’s all about the lengths that Amazon is going to outprice the competition. Amazon is using its own money to discount third-party items sold on the site to compete with other discount retailers such as Dollar General and Wal-Mart in the upcoming holiday season.

Third-party sellers, whose products make up the bulk of items sold through Amazon, are still making the same amount of money from sales; Amazon is lowering prices for the consumer and paying the difference to the seller. This practice is creating discounts as high as 9 percent.

This risky maneuver could drive sales for vendors and keep people on the website, but critics worry that the discounts could make products seem less valuable or of lower quality to the consumer, or unintentionally violate seller/supplier pricing agreements, which could cause serious legal trouble for smaller businesses that sell through Amazon.

Vacation-deprived millennials

Our next headline comes from Lonely Planet and is about vacations and millennial travel habits.

Expedia’s 2017 Vacation Deprivation Report, which analyzed the travel habits of more than 15,000 adults across 30 countries, shows that Americans are vacation-deprived, and the most vacation-deprived demographic in America is millennials.

Most people in the U.S. have a difficult time fitting vacations into their busy schedules even though most agree that time off is vital to maintaining personal well-being and avoiding feelings of burnout. The survey found that millennials receive the fewest vacation days and claim the smallest portion of their vacation days. Millennials are also the most likely to cut their vacations short because of work obligations.

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Posted 11.10.2017 - 10:00 am EST