Party City, the brick-and-mortar retailer that's a one-stop-shop for single-use, brightly-colored plastic crap and other festive decorations, is closing 45 of its 900 stores across the country. Store profits are down due to the shortage of helium on the planet; Party City historically makes big money from filling balloons. From CNN:
The Earth holds pockets of helium buried under rock, but it's notoriously hard to capture because it, well, floats. When drilling or fracking for natural gas, energy companies capture some helium and sell it. But helium makes up a tiny percentage of the gasses trapped under rock formations.
Over the past few years, some drillers have claimed to find troves of helium buried underground, but those haven't always panned out. Party City said it really started feeling the pinch in August 2018...
The good news for Party City is it signed an agreement with a new helium supplier. Party City believes the new supplier can help it return its balloon business back to normal starting in the summer, and it hopes the supplies will last for the next two-and-a-half years...
(Party City CEO) Harrison cautioned, however, that the additional helium wasn't a sure thing. Party City's new supplier might believe it is sitting on a lot of helium, but it can't know for sure until it bottles and sells it.
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A new study reported in Nature (Sci-Hub mirror) tracks down the origins of the mysterious rise in CFC-11, a banned ozone-depleting greenhouse gas whose rise was first reported a year ago, and blames the increase on manufacturing in eastern China.
Need to upgrade your sound? Bluetooth technology has never been better, but that’s not the only reason to look into a new set of speakers or headphones. We found ten pieces of audio gear that are already on sale, and you can take an additional 15% off the final price for Memorial Day weekend by […]
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