Above the Fold

Food Is Yet Another Growing Crisis the World Must Address

Calls for the exodus of non-domestic companies to pull out of Russia continue. From McDonald’s, General Mills and Coca-Cola, to BP, Honeywell and Honda, dozens of businesses have either ceased or significantly scaled back their operations in the country. One sector, however, has mostly defied requests to pull out, and perhaps for good reason. 

The agriculture business in Russia is not only critical to feeding innocent citizens within the nation, but also millions across the globe. Both Russia and Ukraine are two of the top grain-producing regions in the world. As it stands now, corporations like Archer Daniels Midland, Cargill Inc. and Bayer AG have made the call to stay in Russia to help keep the grain exports moving, even if it does mean more cash for Putin’s war machine, because any substantial disturbance in Russian grain output could trigger a food crisis for millions. War-ravaged Ukraine may also fail to yield its typical crop, while very dry weather in South America also has the potential to stunt output. 

So while prices of commodities like corn, wheat, oats and others have already risen substantially, food shortages in the poorest nations and higher prices for grain-stuffs in places like America are likely if grain production is moderately disturbed in Russia and Ukraine. 

Three Things 

1. A Buffet(t) of Insurance Companies – Warren Buffett’s Berkshire Hathaway has agreed to plunk down roughly $11.6 billion in cash to purchase insurer Alleghany Corp. Allegany is a well-known property and casualty insurer focused in Pennsylvania and New York, but also owns a suite of other businesses. Under the terms of the deal, Alleghany will continue to operate autonomously, but now with the backing and resources of Berkshire Hathaway to improve and expand its offerings. The deal also adds to the myriad of insurers that Berkshire Hathaway already owns, such as Geico, General RE, National Indemnity Company and others. 
2. Another Additional Fee for Your Convenience – Instacart is joining the ranks of Lyft, Uber and Uber Eats in adding another fuel surcharge to help buffer rising fuel costs. The Instacard add-on is only $0.40 per order, but is yet another tax on convenience for consumers who already have to pay relatively lofty fees on top of marked-up food and goods prices for the pleasure of not having to drive. The good news is that national average gas prices have actually declined over the past week from their highest recorded levels of $4.33. 
3. QR Codes: The New Scam Frontier – The “touchless” pandemic has thrust the lowly QR code into the forefront of our lives. From bar and restaurant menus to signage and advertisements, QR codes (originally developed by a subsidiary of Toyota to track cars and parts) are everywhere. As they become more of a standard way to “get more information,” scammers are using fake QR codes to either gather data about you or get you to enter personal information to be used for nefarious purposes. And though the incidence of fraud still remains relatively low, experts warn to be extremely cautious when capturing a QR code, as most smart devices simply open the link without scanning its source or security. 

Did You Know? 

Why Won’t Warren Buffett Split Berkshire Hathaway?

At nearly $525,000 per share, Berkshire Hathaway shares are the most expensive on Wall Street — just one share costs 40% more than the average American home. But the 91-year-old chairman and CEO absolutely refuses to split the shares because it would go against his tried and true mantra of buy and hold. Now, if you had a time machine, you could go back to March 16, 1980, when shares began trading at $290. Ironically, Mr. Buffett didn’t even create Berkshire; its roots can be traced back to the 1830s.