The bottom line
▪ A glut of private jets has led to a buyer’s market for would-be private fliers. Even as private-plane manufacturers have trimmed production of new jets, prices for pre-owned planes are down 16 percent from last year. Companies are also buying fewer jets, with corporate plane-buying plans at a 17- year low.
▪ China is closing the gap with the U.S. on minting $1_billion startups. This year, 12 of the world’s 33 new “unicorns”—young businesses valued at $1_billion or more—have been based in China. Since mid-2015, the country has produced 34 unicorns, compared with 39 in the U.S.
▪ The biggest single age cohort today in the U.S. is 26-year-olds, who number 4.8_million. People in the age brackets 25, 27, and 24 follow close behind. This demographic bubble is leading businesses to develop new products and overhaul their marketing in a bid to appeal to the archetypal Millennial.
The WallStreet Journal
▪ The Department of Agriculture projects U.S. butter consumption in 2017 will rise 10_percent from 2016. Americans will consume 940,000 metric tons, or more than 6.1_pounds per person—the highest in half a century.
▪ One in four American workers has less than $1,000 saved for retirement, according to a survey from the Employee Benefit Research Institute. Nearly half of U.S. workers have less than $25,000.