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Month: July 2023

Got Sriracha? The price for a bottle of Huy Fong’s iconic hot sauce gets spicy with supplies short

Got Sriracha? The price for a bottle of Huy Fong’s iconic hot sauce gets spicy with supplies short

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By WYATTE GRANTHAM-PHILIPS (AP Business Writer)

NEW YORK (AP) — It’s not just you. Sriracha is hard to come by these days — at least for one popular brand.

The shortage of Huy Fong Foods’ Sriracha, the beloved red hot sauce packaged in those green-capped bottles, isn’t new — with the company pointing to a scarcity of chile pepper supply for several years now. And as frustrated fans continue to face store shelves missing the Huy Fong name, third-party resellers are punching up prices.

Huy Fong Sriracha, which used to go for under $5 or $10 a bottle, is now selling for shocking amounts in some listings posted to sites with vast third-party marketplaces — including Amazon, eBay and Walmart. Many are simply sold out.

For those still in stock, prices range depending where you look. As of Thursday morning, for example, ads for a single 17-ounce bottle on eBay stretched from around $20 to a whopping $150 — contrasting significantly with the price tags of other hot sauce brands, which don’t appear to have the same level of supply troubles. read more

Chip supply mending but not out of the woods

Chip supply mending but not out of the woods

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Improved semiconductor chip supply, coupled with decreased demand in other industries and automakers’ adaptations, have helped ease the global shortage. But some types of chips are still in short supply and trade tensions between the U.S. and China could further complicate supply chains.

Delta Air Lines is soaring to a record $1.8 billion profit as summer vacationers pack planes

Delta Air Lines is soaring to a record $1.8 billion profit as summer vacationers pack planes

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By DAVID KOENIG (AP Airlines Writer)

Delta Air Lines soared to a record quarterly profit of more than $1.8 billion as summer vacationers packed planes, especially to international destinations, and the airline enjoyed a tailwind from falling fuel prices.

The results released Thursday beat Wall Street expectations, and Delta raised its forecast of full-year earnings.

Delta officials said strong demand for tickets has continued at the beginning of the July-through-September quarter, when it expects revenue similar to the record second quarter, and even into the December holidays.

“I think it’s going to be more of the same,” CEO Ed Bastian said in an interview. “International bookings, which traditionally start to trail off into the fall, are still going to be at a higher level than normal.”

Revenue on flights between the U.S. and Europe, Delta’s most important overseas market, soared 65%. The airline will run its European summer schedule longer than normal to take advantage of American tourists who are overrunning the place after staying home during the COVID-19 pandemic. read more

Michigan Supreme Court opinion has 'wide implications' for supplier contracts, supply chain

Michigan Supreme Court opinion has 'wide implications' for supplier contracts, supply chain

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The Michigan Supreme Court issued a key opinion this week in a case about supply chain contracts that clarifies uncertainty over terms and conditions and likely gives sellers more leverage at the negotiation table.

In MSSC Inc. v. AirBoss Flexible Products Co. — a local case stemming from a typical pricing dispute between a tier 1 and tier 2 supplier — the high court indicated that supply agreements are not requirements contracts by default, according to the opinion led by Justice Elizabeth Welch.

What it means is that buyers must be explicit in their contracts about what they intend to buy from sellers, rather than keeping the terms vague and therefore more flexible, often to the benefit of buyers. It levels the playing field for buyers and sellers, said Michael Brady, executive partner at Warner Norcross + Judd in Detroit and lead counsel to AirBoss in the case against its buyer.

“This case will have wide implications in the supply chain world,” Brady said.

“As the court found, it was muddled in this area of law. The way the law had been, it gave buyers, whether it’s an OEM or a supplier doing business with another supplier, a bit more bargaining power,” Brady said. The court’s new opinion does the opposite. “It puts everyone on the same level playing field during negotiations of a contract so everyone knows what they’re signing up to.” read more