Coffee Is Both Too Cheap and Too Expensive, and 4 More Things to Know Today

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Hand holding coffee beans with beans and ground beans in plate.  Two mugs of coffee in background.
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Here's a quick rundown from the world of business and economics this morning: the things you need to know, and some you'll just want to know.

• If your brain isn't really firing on all cylinders until after your first cup of coffee, here are a couple of tidbits you might find interesting: First, Colombian coffee growers are losing money on every bean they sell right now, despite government subsidies from Bogota. According to the USDA, it costs between $1.27 and $1.54 cents a pound to produce that high-quality Joe, but the average price paid to growers in October was 78 cents a pound. And second, it's not your fault, because Americans are clearly willing to pay more for their morning cups. Sales of single-serving coffee -- Keurig and its imitators -- have tripled since 2011, pushing the volume of coffee sold that way to about half that of traditionally-sold coffee. And in terms of price per cup, those K-cups are significantly more expensive than brewing by the pot.

• A new sign that the labor market is improving a bit: The number of Americans filing new jobless claims fell more than expected last week, declining by 21,000 to a seasonally adjusted 323,000, according to the Labor Department. The consensus of economists polled by Reuters had been for a new claims number of 335,000.

• Tesla's (TSLA) Model S has caught fire in good way -- with buyers. The trendy electric vehicle topped the new Consumer Reports owner satisfaction survey with a remarkable score of 99 out of 100, the highest score a car has received in years.

• In other automaker news, Chrysler's IPO could happen as early as December, insiders report -- but that's if it happens at all. Fiat owns 58.5 percent of Chrysler, and wants to buy the rest from the union-affiliated health care trust for Chrysler's retired workers. The two sides couldn't agree on a price, so they're performing this IPO dance to let the market set the company's value.

• And finally, European workers by law are allotted more vacation days than people in the rest of the world, and by and large, they tend to use them, too. But a study from travel website Expedia reveals that Europeans are also more likely than workers elsewhere to feel "vacation deprived."




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jdykbpl45

When yoy at Daily Finance make up your mind, don't let me know.

November 21 2013 at 2:57 PM Report abuse +1 rate up rate down Reply
burgesswv

What ever happened to the Brazil coffee markets. When I was much younger, Brazil produced most of the worlds' coffee. A & P stores bought this coffee from that country. I thought it was the tastiest joe in the universe (8 oclock, Bokar were the A & P brands.)

November 21 2013 at 1:29 PM Report abuse rate up rate down Reply
createidea

A new sign that the labor market is improving a bit: The number of Americans filing new jobless claims fell more than expected last week, declining by 21,000 to a seasonally adjusted 323,000, according to the Labor Department. The consensus of economists polled by Reuters had been for a new claims number of 335,000.

LOL !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

November 21 2013 at 10:45 AM Report abuse +2 rate up rate down Reply
2 replies to createidea's comment
jdykbpl45

Obama lied about the figures. To be revised upward.

November 21 2013 at 2:58 PM Report abuse +1 rate up rate down Reply
Valerie

Amazing that they expect us to be stupid enough to agree that 323,000 lost jobs qualify as "good news"........isn't it??? LOL

November 21 2013 at 3:21 PM Report abuse +1 rate up rate down Reply