initiative

A ballot initiative proposed by a healthcare workers’ union would take aim at the Golden State’s richest residents with a one-time, 5% tax on net worth over $1 billion.

A relatively low price-to-earnings ratio of 9 for a growing e-commerce company gives some indication of the lack of enthusiasm from investors over the initiative and the damage it could cause to profitability.

These activities would be supported by regulatory initiatives, he notes.

The revenue and adjusted net profit were “better than feared” and the loss from new initiative segment was “broadly in line with expectation,” Citi analysts said in a research note.

Uncertainty over the outcome of the various diplomatic initiatives hasn't helped, either.