Iconic Gum Discontinued

News

Fruit Stripe, the long-standing gum brand recognized for its fruit-flavored varieties and zebra-patterned packaging has officially been discontinued.

A spokesperson for Ferrara, the owner of Fruit Stripe, stated on Wednesday, “The decision to discontinue this product was not taken lightly… We considered many factors… including consumer preferences, and purchasing patterns – and overall brand trends for Fruit Strip Gum.”

The renowned gum, available since the 1960s, featured five flavors: Wet n’ Wild Melon, Cherry, Lemon, Orange, and Peach. Each pack included a temporary tattoo of Yipes the Zebra, the famed mascot.

Ferrara, known for producing other popular candy brands like Trolli, Fun Dip, Pixy Stix, and Nerds, acknowledged that discontinuing Fruit Stripe was a “challenging decision.”

Enthusiasts of this classic gum brand may still be able to locate it in certain retailers across the country until it sells out for the last time.

The Transformation of the American Office

News

The United States is witnessing a transformation in the way office spaces are utilized. Moody’s Analytics marked the highest office vacancy rates since 1979, a change which can be attributed to the monumental shift in work dynamics following the Covid-19 pandemic.  Today’s employees are embracing a new era of hybrid work, blending the best of both worlds from the comfort of their homes.

The report highlights a cultural shift that not only revolutionized the traditional 9-5 office routine but also brought attention to the surplus of office spaces constructed in the 1980s and 1990s. Despite this surplus, the national office vacancy rate skyrocketed to a groundbreaking 19.6% in the fourth quarter of 2023, surpassing records set in the last 40 years.

Amidst the challenges faced by landlords and developers, there is some reason for optimism. The market has shown continued interest in Class A buildings, the latest and most modern structures in prime locations with abundant amenities. These buildings offer flexible configurations that appeal to tenants seeking a physical office presence for branding, purposeful gatherings, training, and collaboration.

While new constructions have slowed to levels not seen since 2012, suburban offices are emerging as a beacon of resilience. Their proximity to communities and, in some cases, shorter commute times for employees, positions them favorably in the evolving landscape. Despite the changes, the office space market remains dynamic, adapting to the needs of a workforce navigating a new era of work-life balance.

JetBlue Appoints the First Female CEO of a Major Airline

Companies, News

Joanna Geraghty, 51, will step into the role of CEO at JetBlue, making her the first woman to lead a major U.S. airline. Geraghty began her tenure at JetBlue nearly two decades ago, in 2005. She has served as president and chief operating officer since 2018. Geraghty emphasized her commitment to driving strategic initiatives, restoring profitability, and creating enduring value for shareholders.

Geraghty’s promotion comes as Robin Hayes, JetBlue’s current CEO, prepares to retire due to health concerns. Hayes, 57, acknowledged the taxing nature of his role, citing the need to prioritize his well-being following advice from his doctor and discussions with his family.

Geraghty is scheduled to become CEO on Feb. 12, around the time when a federal judge will decide if JetBlue can legally acquire Spirit Airlines. JetBlue has actively pursued mergers to narrow the gap with industry giants like American, Delta, United, and Southwest. Notably, in 2016, Hayes had previously attempted to acquire Virgin America, only to be outbid by Alaska Airlines.

First Edible Mascot Delights Fans

News, Sports

The recent Pop-Tarts Bowl in Orlando, Florida, made history by showcasing the first edible mascot in the realm of sports. In a quirky move that captivated the internet, the Kansas State Wildcats triumphed over the NC State Wolfpack with a score of 28-19, culminating in the devouring of a colossal pastry emerging from a larger-than-life toaster.

As part of this creative marketing ploy, the victorious team celebrated by consuming the giant pastry, marking a distinctive trophy presentation that featured two actual Pop-Tarts nestled into slots atop a silver football.

Enthusiastic fans flooded various online platforms, including X (formerly Twitter), expressing their amusement through a plethora of memes.

Heidi Ray, senior director of brand marketing at Pop-Tarts (Kellanova), explained, “Campaigns that earn both coverage and conversation have a disproportionate business impact… We have been blown away by the reaction and engagement, which we are still analyzing. But, at this point, we are looking at success that rivals a major Super Bowl moment.”

Originally named the Blockbuster Bowl, the Pop-Tarts Bowl has a rich history, commencing in Miami back in 1990 and drawing over 74,000 fans. Presently hosted at Orlando’s Camping World Stadium, the event falls under the oversight of Florida Citrus Sports, a nonprofit organization managing regional events.

Various sponsors have graced the game over the years, including a multi-year deal with Florida Citrus Sports. The game underwent a rebranding as the Cheez-It Bowl for the past three seasons, featuring memorable celebrations such as dumping buckets of Cheez-Its on the winning coaches’ heads.

The Plight of the Unused Gift Card

Consumerism, Economy

According to the National Retail Federation, Americans were predicted to spend roughly $30 billion on gift cards during the 2023 Christmas season. While these cards to restaurants and retailers make great gifts, more than $10 billion worth will remain unused.

In 2010, a federal law mandated that a gift card cannot expire for at least five years from the purchase date. Certain states have even longer time requirements. And though cards don’t expire quickly, some will accrue fees if they are not used within a year, and cards from stores that go out of business will not be able to be redeemed. So using gift cards soon after receiving them is a good idea. To encourage immediate spending, retailers established National Use Your Gift Card Day, on the third Saturday of January.

What happens to the money on unspent gift cards depends on where you live. Retailers in 19 states are mandated to return the funds to consumers, and money that cannot be returned must be spent on initiatives that benefit the public. According to Misha Werschkul, executive director of the Washington State Budget and Policy Center, finding the owners of unspent gift cards is challenging. Consumers can search for their name on MissingMoney.com to see if they are entitled to money from gift cards.

Companies do benefit from those who lost their gift cards or forget to redeem them. In 2022, Starbucks reported over $200 million in revenue in cards that were not cashed in. Consumers who think that using the cards as intended is far better than seeing the money returned to the public should be sure to participate in National Use Your Gift Card Day.