More Than Just Data: A Different Gender Gap, M&M Cereal?, and a Welcome Lower Percentage
Anyone else going through Olympic withdrawal? The two weeks of competition was a joy to watch and there is no doubt that Los Angeles has some big shoes to fill in four years. What is tough to pinpoint is why this year’s gathering was so enjoyable. Maybe that is why it all seemed to work so well, it wasn't just one thing. Paris clearly did a nice job of incorporating the city into many of the events. From the sand volleyball being right next to the Eiffel Tower, to skateboarding being in the middle of Place De Concord, to tennis being held in the familiar setting of Roland Garros, and to the track and field events being held in the beautiful venue of Stade de France. It felt like a constant reminder of how beautiful the city really is.
At the same time NBC/Peacock did a really nice job of keeping the prime time coverage interesting and not feeling too overburdened with advertising (most of the time). Couple that with the ability to be able to access all of the events after the fact, and you could fully immerse yourself in surfing, rugby 7’s, or dressage if the desire was there. Plus there might not be a more enjoyable pair than Martha Stuart and Snoop Dog to watch (please bring them back in 2028).
The athletes also put on a great show with success stories to get behind for both the US athletes and athletes from around the globe. It is a reminder that there is so much that brings us together and can make us feel good. Hopefully the positive vibes will continue on for a little bit, but I have my doubts. The joy of the Olympics is that there is certainly pride in rooting for your home country, but for most people there is also happiness in other people’s joy. The pure excitement of residents when St Lucia won a gold medal in the women’s 100 meter dash, to the Netherlands dramatic win in the 4 x 400 mixed relay, to the surprise US win in the men’s 1500 meter, there was plenty to smile about even if it wasn’t your country at the top of the podium.
It is times like these that remind us that there is absolutely something to be said for coming together and celebrating the success of others. It would be great if it could happen more often than once every two to four years.
As always, here are some of the data points that caught our eye this week.
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1)??? +5 < +11
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Next week is the Democratic Convention in Chicago where Vice President Kamala Harris will be introduced as the official nominee along with her running mate Governor Tim Walz. The lead up to the convention has been anything but normal, and it has been a whirlwind of a summer on the political front. There is still a lot of volatility in the numbers and it will be interesting to say the least on how the next two plus months play out. One thing that looks familiar is the different views nationally that men and women hold on the candidates.
This gender gap is nothing new. In 2016, according to exit polls, former President Donald Trump beat former Secretary of State Hillary Clinton by 12 points among men, and lost among women by the same margin. In 2020, Trump won men by an 11 point margin and Biden won women by 12 points. According to our most recent data Harris is leading by 11 points among women, but Trump only has a five point advantage among men. There is still plenty of time for numbers to move before November 5th, but it is certainly interesting to see which numbers are holding relatively steady in a historical context and which ones are moving.
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2)??? $35.9 billion
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This week Mars announced that they were going to buy Kellanova for $35.9 billion in cash. Kellanova holds the non-cereal brands (for the most part) of what was Kellogg’s, while the cereal brands in North American reside with WK Kellogg Co (a complete over simplification of the split). If the purchases goes through Mars, a privately owned company that owns brands such as M&Ms, Snickers, Orbit, Wrigley gum, and Skittles, will now add in Pringles, Pop Tarts, Kashi, and Nutrigrain bars to name a few.
In 2023, Mars had roughly $23 billion in confectionery sales worldwide, which accounted for a little less than half of its overall revenues (they also have a pet care division, and a health and nutrition division). Kellanova, for comparison, did about $13 billion in sales in 2023. With the added brands Mars will undoubtedly stay at the top of the confectionary world, and also boost the company close to being in the top 20 largest privately held companies in the world.
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3)??? 2.9%
There was good news out of the Bureau of Labor Statistics this week with the Consumer Price Index putting the inflation rate in the US at 2.9%, the first time that it has been below 3.0% since 2001. This likely points to a rate cut next month, but it will be interesting to see how the Fed views this news and how they view the best path to lowering rates without being the cause of increased inflation.
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We hope you enjoyed this week’s edition and, as always, we look forward to your thoughts and hearing what stories caught your eye this week.