The world’s biggest retailers are trying to replace the plastic shopping bag.
Target Corp., Walmart Inc. and CVS Health Corp. unveiled a $15 million joint initiative on Tuesday to replace plastic bags with something else over the next three years. The companies, which each contributed $5 million, aim to create a global competition to find a way to change plastic bags or make them unneeded. Walgreens Boots Alliance Inc. and Kroger Co. also plan to be involved.
Called “Beyond the Bag,” the companies want to spark research about new materials for bags or technology and delivery systems that can render them obsolete. The challenge also will study consumers’ use of bags and the infrastructure that makes and distributes them.
The project will be overseen by Closed Loop Partners, a New York-based investment firm that’s working to reduce waste and greenhouse gas emissions.The consumer has already found an alternative to the paper, plastic, and/or reusable bag: the Amazon cardboard box.
Folks must not be paying attention.
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While We're Waiting
For Uber-Granddaughter Driving Day To Begin
Pre-market:
- gold: $1,873; up $8; could we hit $1,900 by the end of the summer?
- silver: $22.90; down 25 cents, but well above historic highs; I've always lived in a $14-silver world so this is quite impressive. The grandchildren will inherit a lot of silver dollars. A lot.
- IMUX: up another 2%
- AAPL: flat
- TSLA: up $24 yesterday (up 1.5%); up $55 today, or 3.5%)
- AMZN: down yesterday by a percent; and flat today;
- T: still up 1.32% in pre-market trading
- OXY: pre-market, trading at $17.11, up about a percent. Of all the oil companies to follow right now, OXY might simply be the most interesting
- how are CVX and COP doing after their recent deals?
- CVX: pretty much flat over the past two days; pays 5.67%
- COP: down yesterday; no pre-market trading -- we'll check back later; pays 4.11%;
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