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Black Friday starts now: A guide to avoiding pressure tactics, online scams and porch pirates

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Black Friday starts now: A guide to avoiding pressure tactics, online scams and porch pirates

Good news for bargain hunters: Gone are the days of having to stand in line at dawn and then elbow your way through a store to get your hands on coveted Black Friday deals, as many retailers have already launched their Black Friday sales in stores and online.

Target, Amazon and JCPenny were among the large retailers that released their promotions a week ahead of Thanksgiving, while Walmart and others dropped their deals on Monday.

Some experts say this is a broader shift toward spreading out discounts and sales throughout the month of November instead of just on Black Friday and its online counterpart, Cyber Monday.

Even so, Black Friday remains a popular day to shop for holiday gifts. Based on survey results, the National Retail Federation projected that 132 million people will go shopping that day, and almost two-thirds of them will do so in stores.

The preference for in-person shopping on Black Friday is a shift from last year, when the National Retail Federation estimated that 76.2 million people shopped in person and 90.6 million made purchases online.

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Consumers who prefer to ditch the hustle and bustle in stores by looking for promotions and discounts online should be aware of retailer tricks meant to pressure shoppers into making a purchase, online scams, and porch thieves who are hoping to steal packages from your front door. Here are some tips from experts to help you make your way through the season’s first big shopping weekend.

Pressure to make impulse purchases

It’s already overwhelming to make your gift list and check it twice to ensure that you’re not missing anyone, whether it be your aunt in Boca Raton or your mailman down the street. It’s even more overwhelming to find one of those gifts on sale at an online retailer, only to see a tag in bold lettering that says “High Demand,” “Low stock” or “In 10 people’s carts,” because your next thought tends to be, “This could sell out, I need to get it now.”

These are often just mind games retailers and advertisers play that are “designed to spur us to make hasty spending decisions,” said R.S. Cross, campaign director for Public Interest Research Group.

The organization found that on top of urgent messaging, some sellers on the online marketplace Etsy are using fake countdown timers on deals that don’t expire.

PIRG tracked 20 bestselling or Etsy-curated products with countdown timers on deals and discovered that 16 timers reset for another 24 hours when the timer hit zero. The other four items further dropped in price when the timer ran out.

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Other common tactics include displaying how much an item will cost by making monthly installments that “both make low-cost products’ prices seem cheaper and make expensive impulse purchases more doable,” according to the organization.

To help resist this manipulation, Consumer Reports suggests that consumers create a budget and stick to it. It’s easier said than done, especially when Black Friday deals are presented as limited-ime offers.

Consumer Reports also recommends starting shopping early. If you purchase an item now and see a price that has dropped later, you can contact customer service and they’ll usually refund the difference.

As you search for deals this week, Cross said, compare items across various online retailers “and don’t get distracted by offers you haven’t had the time to think through,” said Cross.

You can use online tools including Google Shopping, Price Grabber and Shopzilla to compare the price of products on various retailer outlets.

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Avoid online scams

When you peruse the internet for sales from specific brands and retailers, make sure you’re clicking on and making purchases from their official websites.

Online security group McAfee identified a surge in counterfeit sites and phishing scams that use the names of popular luxury brands and tech products to lure consumers into purchasing products for what the consumer believes are unbelievably low prices. Instead, they’re giving away personal information (including credit card, address and account information) to cyber crooks.

McAfee researchers found these sorts of scams targeting footwear and handbag brands, including Adidas and Louis Vuitton. Scammers also tricked consumers by using the Apple brand on fake websites linked to stores selling counterfeit Apple items alongside unrelated brands.

Experts say the best way to counter these scams is to be skeptical of a product when the discount seems too good to be true. Carefully check the URL of a website to ensure that it’s legitimate — even minor variations in spelling or style are a telltale sign of a scam.

Porch pirates

Online purchases are easy because once you click the “complete order” button, all you have to do is wait for the package to arrive at your front door. But porch pirates may also be prowling for packages to arrive so they can swipe them.

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These thieves steal packages primarily from residences whose front doors are easily visible and within 25 feet of the street, according to the Better Business Bureau.

In the past year, porch pirates have stolen approximately $12 billion worth of packages, according to Security.org. The security system analysts found that apartment renters experience package theft at double the rate of those who live in single-family homes.

To avoid becoming a package-theft victim, experts recommend that you schedule their delivery on a day you’ll be home. You can sign up for tracking notifications from a retailer, UPS, FedEx and USPS to remind you of the date and time of an expected delivery.

If you can block the visibility of your front door by parking your car in the driveway, that might help keep porch pirates at bay, Officer Drake Madison of the Los Angeles Police Department said.

If you know you won’t be home when a package arrives, LAPD recommends that you ask a trusted neighbor or friend to look out for the package and pick it up for you. Some delivery companies also offer the ability to change when and where a package will be dropped off.

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You don’t have to have your package delivered to your home. Many retailers offer the option to have an item shipped to one of their brick-and-mortar stores, and they usually offer pick-ups at a customer service counter or a designated parking space in their lot.

Amazon has pick-up counters or self-service lockers at retailers, grocery stores and pharmacies. FedEx can hold your packages for up to seven days at one of its retail partners, including FedEx Office, Walgreens, Office Depot and Dollar General stores.

If you stick with having your packages delivered and you won’t be home to receive them, there are an assortment of lockboxes and secure, oversized mail slots available, although they can be costly. Alternatively, you can install a security camera or doorbell with a built in webcam, but that won’t necessarily stop the theft. Instead, it can gather the evidence needed to obtain a refund from the shipper and share with local law enforcement.

“If a specific area is being targeted and everyone makes a report, it shows police where porch thief issues are occurring and will allow them to deploy resources accordingly,” Madison said.

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Startup Varda Space Industries snags former Mattel plant in El Segundo

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Startup Varda Space Industries snags former Mattel plant in El Segundo

In an expansion of its business of processing pharmaceuticals in Earth’s orbit, Varda Space Industries is renting a large El Segundo plant where toy manufacturer Mattel used to design Hot Wheels and Barbie dolls.

The plant in El Segundo’s aerospace corridor will be an extension of Varda Space Industries’ headquarters in a much smaller building on nearby Aviation Boulevard.

Varda will occupy a 205,443-square-foot industrial and office campus at 2031 E. Mariposa Ave., which will give it additional capacity to manufacture spacecraft at scale, the company said.

Originally built in the 1940s as an aircraft facility, the complex has a history as part of aerospace and defense industries that have long shaped the South Bay and is near a host of major defense and space contractors. It is also close to Los Angeles Air Force Base, headquarters to the Space Systems Command.

Workers test AstroForge’s Odin asteroid probe, which was lost in space after launch this year.

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(Varda Space Industries)

Varda is one of a new generation of aerospace startups that have flourished in Southern California and the South Bay over the last several years, particularly in El Segundo, often with ties to SpaceX.

Elon Musk’s company, founded in 2002 in El Segundo, has revolutionized the industry with reusable rockets that have radically lowered the cost of lifting payloads into space. Though it has moved its headquarters to Texas, SpaceX retains large-scale operations in Hawthorne.

Varda co-founder and Chief Executive Will Bruey is a former SpaceX avionics engineer, and the company’s spacecraft are launched on SpaceX’s workhorse Falcon 9 rockets from Vandenberg Space Force Base in Santa Barbara County.

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Varda makes automated labs that look like cylindrical desktop speakers, which it sends into orbit in capsules and satellite platforms it also builds. There, in microgravity, the miniature labs grow molecular crystals that are purer than those produced in Earth’s gravity for use in pharmaceuticals.

It has contracts with drug companies and also the military, which tests technology at hypersonic speeds as the capsules return to Earth.

Its fifth capsule was launched in November and returned to Earth in late January; its next mission is set in the coming weeks. Varda has more than 10 missions scheduled on Falcon 9s through 2028.

For the last several decades, the Mariposa Avenue property served as the research and development center for Mattel Toys. El Segundo has also long been a center for the toy industry as companies like to set up shop in the shadow of Mattel.

The Mattel facility “has always been an exceptional property with a legacy tied to aerospace innovation, and leasing to Varda Space Industries feels like a natural continuation of that story,” said Michael Woods, a partner at GPI Cos., which owns the property.

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“We are proud to support a company that is genuinely pushing the boundaries of what’s possible, and are excited to watch Varda grow and thrive here in El Segundo,” Woods said.

As one of the country’s most active hubs of aerospace and defense innovation, El Segundo has seen its industrial property vacancy fall to 3.4% on demand from space companies, government contractors and technology startups, real estate brokerage CBRE said.

Successful startups often have to leave the neighborhood when they want to expand, real estate broker Bob Haley of CBRE said. The 9-acre Mattel facility was big enough to keep Varda in the city.

Last year, Varda subleased about 55,000 square feet of lab space from alternative protein company Beyond Meat at 888 Douglas St. in El Segundo, which it started moving into in June.

Varda will get the keys to its new building in December and spend four to eight months building production and assembly facilities as it ramps up operations. By the end of next year, it expects to have constructed 10 more spacecraft.

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In the future, Varda could consolidate offices there, given its size. Currently, though, the plan is to retain all properties, creating a campus of three buildings within a mile of one another that are served by the company’s transportation services, Chief Operating Officer Jonathan Barr said.

“We already have Varda-branded shuttles running up and down Aviation Boulevard,” he said.

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How Iran War Is Threatening Global Oil and Gas Supplies

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How Iran War Is Threatening Global Oil and Gas Supplies

Ships near the Strait of Hormuz before and after attacks began

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Note: Times shown are in Iran Standard Time. Some ships in the region transmit false positions and others sometimes stop broadcasting their locations, and may not be reflected in the animation. Ships with sparse location data are shown in a lighter shade. Source: Kpler and Spire.

Every day, around 80 oil and gas tankers typically pass through the Strait of Hormuz, the narrow waterway off Iran’s southern coast that carries a fifth of the world’s oil and a significant amount of natural gas.

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On Monday, just two oil and gas tankers appear to have crossed the strait, according to a New York Times analysis of shipping activity from Kpler, an industry data firm. Since then, one tanker passed through.

“It’s a de facto closure,” said Dan Pickering, chief investment officer of Pickering Energy Partners, a Houston financial services firm. “You’ve got a significant number of vessels on either side of the strait but no one is willing to go through.”

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Tankers have been staying away from Hormuz since the U.S.-Israeli attacks on Iran that began on Saturday. A prolonged conflict could ripple broadly across the global economy, threatening the energy supplies of countries halfway around the world and stoking inflation.

International oil prices have climbed 12 percent since the fighting began, trading Tuesday around $81 a barrel, and natural gas prices have surged in Europe and in Asia.

A senior Iranian military official threatened on Monday to “set on fire” any ships traveling through the Strait of Hormuz. Vessels in the region have already come under attack. Several oil and gas facilities have also been struck or affected by nearby shelling, though the damage did not initially appear to be catastrophic.

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Where ships and energy facilities have been damaged

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Note: Damage as of 2 p.m. Eastern time Tuesday. Source: Kpler, Kuwait National Petroleum Company, Saudi Arabian Ministry of Energy, Planet Labs, QatarEnergy, United Kingdom Maritime Trade Operations and Vanguard Tech.

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A fire broke out Tuesday at a major energy hub in Fujairah, United Arab Emirates, from the falling debris of a downed drone, the authorities said. On Monday, Qatar halted production of liquefied natural gas, or fuel that has been cooled so that it can be transported on ships, after attacks on its facilities.

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Facilities at Ras Tanura oil refinery in Saudi Arabia were on fire on Monday after two Iranian drones were intercepted, according to Saudi Arabia’s Ministry of Energy, causing fragments to fall. Vantor

The sharp reduction in tanker traffic is reducing the supply of oil and gas to world markets, pushing up prices for both commodities. And the longer that ships stay away from the Strait of Hormuz, the less oil and gas get out to the world, which could raise prices even more.

Shipping companies have paused their tankers to protect their crew and cargo, and because insurance companies are charging significantly more to cover vessels in the conflict area.

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On Tuesday, President Trump said that “if necessary,” the U.S. Navy would begin escorting tankers through the strait. He also said a U.S. government agency would begin offering “political risk insurance” to shipping lines in the area.

In addition to tankers, other large vessels regularly go through the strait, including car carriers and container ships. In normal conditions, nearly 160 make the trip each day.

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Some ships in the region turn off the devices that broadcast their positions, while others transmit false locations — making it hard to give a full picture of the traffic in the strait.

The Shiva is a small oil tanker that has repeatedly faked its location, according to TankerTrackers.com, which tracks global oil shipments. It is suspected of carrying sanctioned Iranian oil, according to Kpler. The Shiva was one of the two tankers that crossed the strait on Monday.

The oil and gas that typically move through the strait come from big producing countries like Saudi Arabia, Iraq, Iran and United Arab Emirates, and are exported around the world.

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Where tankers moving through the Strait have traveled

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Note: Tanker paths are since Jan. 1 and include all tankers and gas carriers. Source: Kpler and Spire.

In 2024, more than 80 percent of the oil and gas transported through the Strait of Hormuz went to Asia. China, India, Japan and South Korea were the top importers, according to the U.S. Energy Information Administration.

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Countries have energy stockpiles that could last them into the coming months, but a continued shutdown of the strait could damage their economies.

Several big disruptions have roiled supply chains in recent years, but the tanker standstill in the Strait of Hormuz could have an outsize impact.

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Paramount credit downgraded to ‘junk’ status over debt worries

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Paramount credit downgraded to ‘junk’ status over debt worries

Paramount Skydance’s jubilation over its come-from-behind victory to claim Warner Bros. Discovery has entered a new phase:

Call it the deal-debt hangover.

Two major ratings agencies have raised concerns about Paramount’s credit because of the enormous debt the David Ellison-led company will have to shoulder — at least $79 billion — once it absorbs the larger Warner Bros. Discovery, bringing CNN, HBO, TBS and Cartoon Network into the Paramount fold.

Fitch Ratings said Monday that it placed Paramount on its “negative” ratings watch, and downgraded its credit to BB+ from BBB-, which puts the company’s credit into “junk” territory. Fitch said it took action due to “uncertainty” surrounding Paramount’s $110-billion deal for Warner Bros. Discovery, which the boards of both companies approved on Friday.

S&P Global Ratings took similar action.

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To finance the Warner takeover, Ellison’s billionaire father, Larry Ellison, has agreed to guarantee the $45.7 billion in equity needed. Bank of America, Citibank and Apollo Global have agreed to provide Paramount with more than $54 billion in debt financing.

“Potential credit risks include the prospective debt-funded structure, Fitch’s expectation of materially elevated leverage and limited visibility on post-transaction financial policy and capital structure,” Fitch said.

Late last week, Paramount sent $2.8 billion to Netflix as a “termination fee” to officially end the streaming giant’s pursuit of Warner Bros. That payment paved the way for Warner and Paramount’s board to enter into the new merger agreement.

Paramount hopes the merger will be wrapped up by the end of September. It needs the approval of Warner Bros. Discovery shareholders and regulators, including the European Union.

Paramount executives acknowledged this week the new company would emerge with $79 billion in debt — a considerably higher total than what Warner Bros. Discovery had following its spinoff from AT&T. That 2022 transaction left Warner Bros. Discovery with nearly $55 billion of debt, a burden that led to endless waves of cost-cutting, including thousands of layoffs and dozens of canceled projects.

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Warner still has $33.5 billion in debt, a lingering legacy that will be passed on to Paramount.

Paramount plans to restructure about $15 billion in Warner Bros. Discovery’s existing debt.

Paramount CEO David Ellison at a 2024 movie premiere for a Netflix show.

(Evan Agostini / Invision / AP)

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Paramount told Wall Street it would find more than $6 billion in cost cuts or “synergies” within three years — a number that has weighed heavily on entertainment industry workers, particularly in Los Angeles.

Hollywood already is reeling from previous mergers in addition to a sharp pullback in film and television production locally as filmmakers chase tax credits offered overseas and in other states, including New York and New Jersey.

Some entertainment executives, including Netflix Co-Chief Executive Ted Sarandos, have speculated that Paramount will need to find more than $10 billion in cost cuts to make the math work. More recently, Sarandos went higher, telling Bloomberg News that Paramount may need $16 billion in cuts.

Cognizant of widespread fears about additional layoffs, Paramount Chief Operating Officer Andrew Gordon took steps this week to try to tamp down such concerns.

Gordon is a former Goldman Sachs banker and a former executive with RedBird Capital Partners, an investor in Paramount and the proposed Warner Bros. deal. He joined Paramount last August as part of the Ellison takeover.

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During a conference call Monday with analysts, Gordon said Paramount would look beyond the workforce for cuts because the company wants to maintain its film and TV production levels.

Paramount plans to look for cost savings by consolidating the “technology stacks and cloud providers” for its streaming services, including Paramount+ and HBO Max, Gordon said. The company also would search for reductions in corporate overhead, marketing expenses, procurement, business services and “optimizing the combined real estate footprint.”

It’s unclear whether Paramount would sell the historic Melrose Avenue lot or simply centralize the sprawling operations onto the Warner Bros. and Paramount lots in Burbank and Hollywood.

Workers are scattered throughout the region.

HBO, owned by Warner Bros. Discovery, maintains its West Coast headquarters in Culver City; CBS television stations operate from CBS’ former lot off Radford Avenue in Studio City; and CBS Entertainment and Paramount cable channels executive teams are located in a high-rise off Gower Street and Sunset Boulevard, blocks from the Paramount movie studio lot.

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“The combination of PSKY and WBD could create a materially stronger business than either individual entity,” Standard & Poor’s said in its note to investors. “However, this transaction presents unique challenges because it would involve the combination of three companies, with the smallest, Skydance, being the controlling entity.”

David Ellison’s production firm, Skydance Media, was the entity that bought Paramount, creating Paramount Skydance.

Ellison has not announced what the combined company will be called.

Paramount shares closed down more than 6% Tuesday to $12.45.

Warner Bros. Discovery fell 1% to $28.20. Netflix added less than 1% to close at $97.70.

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