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New York CNN —Sam Bankman-Fried has been sentenced to 25 years in federal prison for defrauding customers and investors in his failed crypto exchange FTX, a Manhattan court ruled Thursday. In this courtroom sketch, Sam Bankman-Fried, second from right, stands while making a statement during his sentencing in Manhattan federal court on March 28, 2024. There is no parole in federal cases, but Bankman-Fried may still be able to shave years off his term. Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act. In addition to the prison sentence, Kaplan also ordered a forfeiture of $11.02 billion.
Persons: Sam Bankman, Fried, Lewis Kaplan, it’s, ” Kaplan, Fried “, Bernard Madoff, Elizabeth Holmes, Elizabeth Williams, ” Mitchell Epner, Epner, ” Epner, Jordan Estes, Kramer Levin, , ” Estes, Kaplan, Joe Bankman, Barbara Fried, Organizations: New, New York CNN, CNN, Federal, of Prisons Locations: New York, Manhattan, San Francisco
Xavier, Remington, and Jade Estes were born on February 29, 2004, 2008, and 2012, respectively. AdvertisementWhen Xavier, Remington, and Jade Estes sliced their joint birthday cake earlier this month, the numbers on the top said 20, 16, and 12. AdvertisementThe makeup of the Estes family is known only to copy that of an older family in Norway. Heidi, Olav, and Leif-Martin Henrikson — born in 1960, 1964, and 1968, respectively — hold the Guinness world record for most siblings delivered on consecutive leap day years. "Everyone associates leap day with frogs."
Persons: Xavier, Remington, Jade Estes, , Estes, Heidi, Olav, Leif, Martin Henrikson —, Louise Estes, Jade, Remington Estes, David, Xander, I'd, Seeley, We'd, Este, wasn't, it's, We've Organizations: Service, Guinness, Brigham Young University, Marvel, Business Locations: Norway, Payson , Utah
Under federal sentencing guidelines, he could face a maximum of 110 years. In the memo, Bankman-Fried’s lawyer, Marc Mukasey, asks the judge overseeing the case to reject the pre-sentencing report prepared by the Probation Department, which recommends a 100-year sentence. Considering Bankman-Fried’s “charitable works and demonstrated commitment to others” Mukasey recommends a prison sentence between five and six-and-a-half years. The judge overseeing the case, Lewis Kaplan of the Southern District of New York, will weigh several factors in deciding Bankman-Fried’s sentence, including arguments from prosecutors, defense counsel and the recommendations from the Probation Department. Typically, in white-collar crimes, the bigger the financial loss, the longer the sentence.
Persons: Sam Bankman, Fried, Marc Mukasey, , , ” Mukasey, , Mukasey, FTX, Lewis Kaplan, Jordan Estes, Kramer Levin, Estes Organizations: New, New York CNN, Probation Department, Southern, of, Department, , US Attorney’s, Southern District Locations: New York, Manhattan, FTX, Brooklyn, of New York
For the second time as governor of South Dakota, Kristi Noem has been banished from the Pine Ridge Indian Reservation. Noem’s mention of the gang, he said, was the first time he had heard of it or its possible presence on the reservation. In 2018, as a Representative in the South Dakota Legislature, she proposed legislation that would allow federal authorities to arrest people on tribal lands for state crimes. Tony Mangan, a spokesperson for the South Dakota Attorney General’s office, said the Ghost Dancers are affiliated with a motorcycle gang called the Bandidos. Around the country, tribal nations adopted the practice, and in South Dakota it became part of one of America’s most infamous massacres.
Persons: Kristi Noem, , Frank Star, Donald Trump, Noem, Ian Fury, didn’t, Tony Mangan, Mangan, ” Noem, Bull, Sitting Bull, Trump, Nick Estes, , hasn’t, ___ Graham Brewer, Trisha Ahmed, @TrishaAhmed15 Organizations: Oglala Sioux Tribe, Oglala Sioux, Republican, South Dakota Legislature, South Dakota Attorney, U.S, Pipeline, Oglala, Oglala Sioux Tribal, American Civil Liberties Union of, American Indian Studies, University of Minnesota, Trump, Associated Press, America Statehouse News Initiative, America Locations: South Dakota, Pine, Oglala, Texas, U.S, Mexico, American, Rapid City, resiliency, Sioux, Oglala Sioux, American Civil Liberties Union of South Dakota, Lower Brule Sioux, States, Connecticut
AdvertisementA 36-year-old American Airlines flight attendant was arrested Thursday on two charges related to claims he'd filmed a minor using an airplane bathroom, the US Attorney's Office for the District of Massachusetts said. A press release from the Department of Justice released Thursday says the claims involve an American Airlines flight to Boston from Charlotte, North Carolina, in September. A family says their daughter discovered a cellphone taped inside a toilet on an American Airlines flight in September. American Airlines said in a statement that Thompson had not worked for the airline since the September incident. Paul Llewellyn, an attorney representing the girl's family in their civil lawsuit against American Airlines, said the family is happy that police arrested Thompson.
Persons: Estes Carter Thompson III, Thompson, , he'd, Estes Carter Thompson, Lewis, Llewellyn, he's, Jodi Cohen, Paul Llewellyn Organizations: DOJ, Service, American Airlines, US, Office, District, Department of Justice, SEAT, BI Locations: Massachusetts, Boston, Charlotte , North Carolina
After the incident, Thompson was “immediately withheld from service” and hasn’t worked for American Airlines since, the company said in a statement. Estes Carter Thompson Lynchburg Adult Detention Center“We take these allegations very seriously,” American Airlines said in its statement. “It is alleged that, beneath the red stickers, Thompson had concealed his iPhone to record a video,” the release said. The girl took a picture of the concealed phone and returned to her seat to show her parents, it said. The parents notified other flight attendants, who then told the plane’s captain, who in turn alerted law enforcement on the ground, prosecutors said.
Persons: Estes Carter Thompson III, Thompson, , Jodi Cohen, , hasn’t, Estes Carter Organizations: CNN, An American Airlines, US, American Airlines, Lynchburg Adult Detention, Airlines, Logan International Airport, of Locations: Lynchburg , Virginia, Massachusetts, Boston, Charlotte , North Carolina, Lynchburg, North Carolina, Western, of Virginia
An American Airlines flight attendant was arrested on Thursday, accused of using his cellphone in an attempt to secretly record a 14-year-old girl as she used the lavatory on a domestic flight in September, federal prosecutors said. The flight attendant, Estes Carter Thompson III, 37, of Charlotte, N.C., was arrested in Lynchburg, Va., and charged with attempted sexual exploitation of children and possession of child pornography after investigators found evidence that he had surreptitiously recorded video footage of four other girls as they used the lavatory on American Airlines flights last year, the U.S. attorney’s office for the District of Massachusetts said. “The deeply disturbing conduct alleged here is something no parent or child should ever have to worry about when they travel,” Joshua S. Levy, the acting U.S. attorney for the district of Massachusetts, said in a statement. Thompson allegedly used his position to prey on and surreptitiously record innocent children, including unaccompanied minors, while in a vulnerable state aboard flights he was working.”According to a criminal complaint, Mr. Thompson was working as a flight attendant on an American Airlines flight to Boston from Charlotte on Sept. 2. About halfway through the flight, the 14-year-old girl got up to use a lavatory in the main cabin, the document says.
Persons: Estes Carter Thompson III, , Joshua S, Levy, “ Mr, Thompson Organizations: American Airlines, District Locations: Charlotte, N.C, Lynchburg, Va, U.S, Massachusetts, Boston
Yellow Corp. trailers sit idle at a YRC shipping facility in North Reading, Massachusetts, U.S., August 16, 2023. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsDec 5 (Reuters) - Trucking company XPO Inc (XPO.N) won a bid to buy 28 service centers of bankrupt Yellow Corp for $870 million in a closely watched auction of the nearly 100-year-old firm's assets. Yellow, formerly known as YRC, filed for Chapter 11 bankruptcy protection in August after blaming the International Brotherhood of Teamsters union for its demise. The U.S. Bankruptcy Court in Delaware will hold a hearing on Dec. 12 to approve the bids. Yellow's bankruptcy process was closely watched after its demise potentially saddled U.S. taxpayers with losses stemming from a government rescue.
Persons: Brian Snyder, XPO, Jonathan Chappell, XPO's, Aishwarya Jain, Pooja Desai, Krishna Chandra Organizations: Yellow Corp, REUTERS, Trucking, XPO Inc, International Brotherhood of Teamsters, Walmart, Evercore ISI, Estes Express Lines, Swift Transportation Holdings, U.S, Bankruptcy, Thomson Locations: North Reading , Massachusetts, U.S, North America, Delaware
AdvertisementLots of my residential design clients become Christmas decorating clientsAt first, I started working out of my home. It's usually, "We want to do Christmas really big this year" or "We're having a party and we want our home to look really nice." A Christmas tree that Warren designed. Jarrod EstesIf they are going to hire me, they want to get the most bang for their buck, and for 99% of people, that means a decorated Christmas tree. Warren and a Christmas tree she designed.
Persons: Courtney Warren, Warren, , Courtney Warren Home, I've, It's, Courtney, Jarrod Estes, they're, it's, Warren ., we've, couldn't, haven't, I'm Organizations: Service, Dallas metroplex Locations: Dallas, New York, Texas
Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday. Altman, left, appears onstage with Microsoft CEO Satya Nadella at OpenAI’s first developer conference, on Nov. 6 in San Francisco. Photo: Barbara Ortutay/Associated PressSome chief information officers are questioning the viability of ChatGPT maker OpenAI following the unexpected ouster of chief executive Sam Altman on Friday, his subsequent hire by Microsoft and an unresolved threat by hundreds of OpenAI workers to quit and follow him there. “Long-term viability of any platform is important when making decisions,” said Todd Florence, chief information officer of Estes Express Lines, a Richmond, Va.-based trucker. “Friday certainly calls that into question in regards to OpenAI.”
Persons: Sam Altman, OpenAI, Altman, Satya Nadella, Barbara Ortutay, , , Todd Florence Organizations: Microsoft, OpenAI’s, Associated Press, OpenAI, Estes Express Locations: San Francisco, Richmond, Va
Opinion | Postpone Social Security for the Sake of the Young?
  + stars: | 2023-11-18 | by ( ) www.nytimes.com   time to read: +1 min
The enormous income gap between workers and executives is a much more relevant factor in the lopsidedness of wealth distribution. The aging population is depicted as carefree, golf-playing, medically fit scammers living off struggling young wage earners. Social Security earnings are based on wages earned in a lifetime. The solution is not to raise the age limit for retirement but to eliminate the maximum taxable income for Social Security, currently $160,200. And to the authors, please stop finding ways to divide the young and the old.
Persons: Eugene Steuerle, Glenn Kramon, Florence Estes, I’ll Organizations: Security, Social, Social Security, Millionaires, Florence Estes Chicago Locations: U.S
Political Cartoons View All 1244 Images“They ask questions but they don’t tell us what is going on,” Hawkins said of CMS. If trends continue, as many as 30 million people could end up being dropped from Medicaid once states finish reviewing their Medicaid rolls, according to Avalere's projections. The numbers dwarf the Biden administration’s initial projections that only 15 million people would lose coverage throughout the process. “We have to say it’s going poorly,” Massey Whorley, a principal at Avalere, said of the Medicaid redeterminations. Some Texas lawmakers have asked CMS to investigate issues in the state, where nearly 1 million have lost Medicaid.
Persons: Biden, Avalere, , Trevor Hawkins, Hawkins, , ” Hawkins, they’ve, Xavier Becerra, Daniel Tsai, Tsai, Lily Mezquita, Mezquita, ” Massey Whorley, I’ve, Gavin Lesnick, Lesnick, Lynn Hearn, Hearn, We’ve, we’ve, ” Hearn, Mallory McManus, Cassidy Estes, Rogers, didn't, Estes, Graciela Camarena, Camarena, Jennifer Ruffcorn, Jennifer Wagner, ___ Hunter, Robert Wood Johnson Organizations: WASHINGTON, Medicaid, Legal Aid, Centers, Medicare, Services, CMS, Democratic, Human Services, HHS, CMS Center, Children’s Health Insurance, Biden, AP, state's Department of Human Services, Florida Health Justice, Florida Department of Children, Charlotte Center, Legal, Children's Defense Fund, Texas, Texas Health, Center, Budget, Associated Press Health, Science Department, Robert Wood Johnson Foundation Locations: Florida, Arkansas, Texas, Miami , Florida, Avalere, North Carolina, Atlanta
CNN —Head into any gym, and you may find someone walking backward on a treadmill or pedaling in reverse on an elliptical machine. “People are sitting way too much today, plus they lack varied movement.”Quite a few studies have been done on the potential benefits of retro walking, a common term for walking backward. Take it slowly when you first start to walk backward, experts say. Other studies indicate backward motion may help those with knee osteoarthritis and chronic back pain, plus improve gait and balance. People in China have been walking backward for centuries for physical and mental health.
Persons: , Grayson Wickham, doble, Landry Estes, ” Estes, You’re, Wickham, ” Wickham, Loren Zitomersky, , Estes, it’s, ” Melanie Radzicki McManus Organizations: CNN, International, of Sports Medicine, Boston Marathon, CNN’s Locations: New York City, , Station , Texas, China
Jack Cooper officials, including Executive Chair Sarah Amico, have been talking with Biden administration officials in recent months to get support for extending the terms of the loan. The White House said it was referring all Jack Cooper stakeholder inquiries to the Treasury Department. Jack Cooper and the Teamsters union declined to comment. Yellow owns approximately 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing. Trucking firm Estes Express submitted a revised bid worth $1.525 billion in cash for Yellow Corp's shipment centers, topping a $1.5 billion bid from Old Dominion Freight Line (ODFL.O).
Persons: Mike Blake, Biden, Jack Cooper, Sherrod Brown, Republican Roger Marshall, Bernie Sanders, Trump, Jack Cooper's, Sarah Amico, Amico, Lael Brainard, Brendan Danaher, Bob Casey, Tammy Baldwin, Jarrett Renshaw, Dietrich Knauth, Heather Timmons, Matthew Lewis Organizations: U.S, Yellow, Jack Cooper Transport, Ford, Brotherhood of Teamsters, Senators, Republican, Treasury Department, Reuters, Yellow Corp, Treasury, Biden, Democratic, U.S . Senate, Teamsters, White, National Economic Council, Democratic U.S, Citadel, MFN Partners, Walmart, Trucking, Express, Old Dominion Freight, Thomson Locations: Mexico, San Diego , California, U.S, Georgia, Pennsylvania, Wisconsin, Nashville , Tennessee, Philadelphia, New York
Only a handful of couples who plan well in advance are greenlit for their October celebrations, said John Cullen, the Stanley’s owner. The spookiness of the place is the allure for many couples, said Shayna Papke, a popular local planner for Halloween season weddings at the Stanley. “They’re the outliers who like dark music and dark stories. “Nothing says I love you like murdering your wife and kids, like in ‘The Shining,’ right?” Ms. Pingel, said jokingly. She worked with Ms. Papke to orchestrate their Friday the 13th wedding at the Pavilion, one of three indoor wedding spaces on the sprawling grounds.
Persons: John Cullen, Grady, Shayna Papke, , , They’re, Stanley, ” Mr, Cullen, Pingel, Papke Organizations: Stanley Locations: Estes
Defense lawyers will have a chance to put forward a competing narrative when they present their case, beginning as soon as Thursday. A STRATEGIC CHOICEAllowing specific unfavorable accounts by prosecution witnesses to go unchallenged on cross-examination could be a strategic choice by the defense, according to experts. During opening statements, Cohen told jurors of the prosecutors: "They'd have you think he was quite the villain, or, more precisely, almost a cartoon of a villain. "It was pretty humiliating," said Singh, who has pleaded guilty to fraud charges. Ellison, who has also pleaded guilty to fraud, said Bankman-Fried told her that his signature sloppy dress and wild mop of curly locks was an "important part of FTX's image."
Persons: Sam Bankman, Andrew Kelly, Fried, Bankman, doesn't, Jordan Estes, Kramer Levin, Mark Cohen, Cohen, Rachel Maimin, Lowenstein Sandler, Sam, gooder, Nishad Singh, Singh, Caroline Ellison, Alameda's, Ellison, Luc Cohen, Will Dunham, Amy Stevens Organizations: FTX, Manhattan, REUTERS, Alameda Research, Thomson Locations: New York City, U.S, Manhattan, Washington, Alameda, New York
Nishad Singh, former director of engineering at FTX, arrives at federal court in New York on Monday. Whether or not to testify is case-dependent, and clients take a big risk in opening themselves up to cross-examination by prosecutors. The Adderall issueSam Bankman-Fried, center, has pleaded not guilty to seven federal counts of fraud and conspiracy. So he’s only getting one in the morning before he’s transferred to the courthouse and one in the evening. While they have not yet presented their case, Bankman-Fried’s lawyers have repeatedly failed to stick the landing when it comes to cross-examining the government’s witnesses.
Persons: CNN Business ’, Sam Bankman, Mary, Nishad Singh, Yuki Iwamura, wouldn’t, , Jordan Estes, Kramer Levin, Estes, aren’t, Hail Mary, Elizabeth Williams, Mark Cohen, he’s, Cohen, hasn’t, Fried, Bankman, ” Cohen, Caroline Ellison, you’ll Organizations: CNN Business, New York CNN, Alameda Research, Bloomberg, US Attorney’s, Hail, AP, Metropolitan Detention, of Prisons Locations: New York, Manhattan, Bankman, Alameda, FTX
‘The ultimate insider’Caroline Ellison offered crucial testimony this week against her former boss and ex-boyfriend, Sam Bankman-Fried. Like Bankman-Fried, Ellison faces the prospect of 110 years in prison if given a maximum sentence. Bankman-Fried’s defense team cross-examined Ellison for about six hours on Thursday in a meandering, halting back-and-forth that repeatedly prompted objections from the prosecution. The secret audio recordingCaroline Ellison, former chief executive of Alameda Research, leaves federal court in Manhattan on Thursday. Statements like the ones Ellison made in the recording are known as “prior consistent statements of a witness,” Estes said.
Persons: Sam Bankman, He’s, Caroline Ellison, Fried, Jane Rosenberg, , , Jordan Estes, Kramer Levin, , SBF’s, Ellison, Gary Wang, FTX, Sam, Judge Lewis Kaplan, Mark Cohen, Stephanie Keith, Christian Drappi, “ Sam’s, ” Estes, they’ve, , What’s, Estes, that’s, Mary, ” Prosecutors, there’s, ’ ” Estes, you’ve Organizations: New, New York CNN, Alameda Research, Reuters, US Attorney’s, Bloomberg, Getty, Alameda, Christian, , CNN Locations: New York, Alameda, Bahamas, Manhattan, Hong Kong, China
Law Firms Michael R. Becker FollowNEW YORK, Oct 2 (Reuters) - Sam Bankman-Fried will likely defend himself at his fraud trial, due to begin on Tuesday, by arguing he did not think the use by his FTX cryptocurrency exchange of customer funds was improper and by challenging the credibility of those who say otherwise. He has long acknowledged failing to manage risk at FTX, but denied prosecutors' claims he stole billions of dollars in FTX customer deposits to plug Alameda's losses. In September court papers, Bankman-Fried's lawyers said he had a "good faith belief" that the manner in which FTX and Alameda handled customer funds was permissible. Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Prosecutors are seeking to play jurors a recording of an Alameda meeting in which Ellison told colleagues that Bankman-Fried approved the use of customer funds.
Persons: Michael R, Becker, Sam Bankman, Fried, FTX, Alameda, Jordan Estes, Estes, Kramer Levin, Eduardo Munoz, District Judge Lewis Kaplan, Caroline Ellison, Gary Wang, Nishad Singh, Tim Howard, Freshfields, Ellison, Wang, Kaplan, Luc Cohen, Amy Stevens, Daniel Wallis Organizations: Alameda Research, New York Times, REUTERS, U.S, Attorney's, District, Alameda, Prosecutors, Thomson Locations: Brooklyn, Bankman, FTX, Alameda, New York, U.S, Manhattan
Eighth-inning rally lifts Twins over Athletics
  + stars: | 2023-09-28 | by ( Field Level Media | ) www.reuters.com   time to read: +2 min
[1/34] Sep 27, 2023; Minneapolis, Minnesota, USA; Minnesota Twins starting pitcher Pablo Lopez (49) pitches against the Oakland Athletics in the first inning at Target Field. Edouard Julien and Ryan Jeffers homered, Max Kepler went 4-for-4 and Willi Castro and Christian Vazquez both had two hits for the Twins and Jeffers had three RBIs for the American League Central champion Twins (85-73). Kepler hit a one-out single, knocking out Estes. Kepler led off with a single and pinch runner Andrew Stevenson then scored on Larnach's pinch double off the right field wall. Larnach advanced to third on a wild pitch and scored on a sacrifice fly by Jeffers.
Persons: Pablo Lopez, Brad Rempel, Trevor Larnach, Edouard Julien, Ryan Jeffers, Max Kepler, Willi Castro, Christian Vazquez, Jeffers, Dallas Keuchel, Griffin Jax, Zack Gelof, Brent Rooker, Lawrence Butler, Nick Allen, Dany Jimenez, Julien, Joey Estes, Castro, Kyle Farmer, Butler, Seth Brown, Oakland, Aledmys Diaz, Rooker, Ryan Noda, Diaz, Caleb Thielbar, Kepler, Estes, Jeffers socked, Kyle Muller, Andrew Stevenson Organizations: Minnesota Twins, Oakland Athletics, Oakland A's, Twins, American League Central, Minnesota, Dallas, Oakland, American League, The Twins, Thomson Locations: Minneapolis , Minnesota, USA, Minneapolis, Oakland, Butler, Caleb Thielbar . Minnesota
Tech billionaire Mark Cuban recently lost nearly $900,000 worth of crypto to a scam that could happen to any crypto owner. On Friday, apparent hackers drained Cuban's digital wallet of around $870,000 worth of various types of cryptocurrencies, including various stablecoins, SuperRare and Ethereum Name Service tokens, according to crypto news outlet DL News. However, Cuban says he believes he downloaded a fraudulent version of the popular app that he found in a Google search, according to DL News. That's one reason financial experts advise against putting more money into crypto than you're willing to potentially lose. Before the hackers made off with more of Cubans digital funds, he says he was able to transfer his remaining virtual assets to Coinbase, per DL News.
Persons: Mark Cuban, Kenny Estes, they're Organizations: Tech, Cuban, CNBC Locations: MetaMask
MLB roundup: Corbin Carroll makes rookie history as D-backs roll
  + stars: | 2023-09-21 | by ( ) www.reuters.com   time to read: +13 min
Willi Castro homered and had two hits and two runs scored, Christian Vazquez had a double among his two hits. However, he surrendered six runs on seven hits. Giolito (8-14) allowed four runs (three earned) on seven hits over 5 1/3 innings, walking three with six strikeouts. Senga (12-7), a standout MLB rookie after playing pro ball in Japan from 2012 to 2022, allowed seven hits, two walks and two runs with three strikeouts. He held the Cardinals to one run on four hits in six innings while striking out four and walking two.
Persons: Corbin Carroll, Matt Kartozian, Phoenix . Carroll, Merrill Kelly, Ketel Marte, Christian Walker, Gabriel Moreno, Logan Webb, Mauricio Dubon, Danny Coulombe, Yainer Diaz, Chas McCormick, Dubon, Ryan Pressly, Jorge Polanco, Hunter Greene's, Willi Castro, Christian Vazquez, Jhoan Duran, Griffin Jax, Alexis Diaz, Bryson Stott, Stott's, A.J, Minter, Nick Castellanos, Kevin Gausman, Michael King, Ji Man Choi, San Diego, Luis Garcia, Josh Hader, Brendan Rodgers, Hader, Chase Anderson, Brandon Drury, Nolan Schanuel, Andrew Wantz, Reid Detmers, Manuel Margot, Isaac Paredes, Yandy Diaz, Aaron Civale, Lane Thomas, Washington's Joey Meneses, Dominic Smith, CJ Abrams, Josiah Gray, Andrew Vaughn, Nelson Velazquez, Velazquez, Lucas Giolito, Angel Zerpa, Joshua Palacios, Connor Joe, Joe, Jared Triolo, Ke'Bryan Hayes, Justin Steele, Mitch Keller, Adam Duvall, Bobby Dalbec, Brayan Bello, Jonah Heim, Mitch Garver, Marcus Semien, Josh Jung, Evan Carter, Reese Olson, Tyler Nevin, Carson Kelly, Kerry Carpenter, Olson, Max Muncy, Bobby Miller, Mark Vientos, Brandon Nimmo, Luis Arraez, Jake Burger, Burger, Dominic Canzone, George Kirby, Canzone, Joey Estes, Julio Rodriguez, Cal Raleigh, Estes, Josh Donaldson, Tyrone Taylor, Louis, Mark Canha, Adrian Houser, Zack Thompson Organizations: Arizona Diamondbacks, San Francisco Giants, Chase, Diamondbacks, Arizona, Giants, Chicago Cubs, National League West, Los Angeles Dodgers, Astros, Orioles, Houston, American League West, Baltimore, AL East, Tampa Bay, Rays, Reds, Cincinnati, Minnesota, Kansas City, American League Central, Phillies, Braves, Philadelphia Phillies, Atlanta Braves, National League East, Blue Jays, Yankees, Toronto, Texas Rangers, Seattle Mariners, American League, Padres, San, Rockies, Los Angeles, Tampa, White Sox, Chicago, Nationals, Royals, Cleveland, Cubs, Pittsburgh, Pirates, Rangers, Red Sox, Boston, Texas, Tigers, Dodgers, Detroit, Los, National League, Mets, Marlins, Miami, New, MLB, NL, Mariners, Athletics, Seattle, Oakland, Seattle's, AL West, Houston Astros, Cal, Triple, Brewers, Cardinals, National League Central, Thomson Locations: Phoenix , Arizona, USA, Phoenix ., Minnesota, Toronto, New York, Bronx, Colorado, St . Petersburg, Fla, Tampa, Tampa Bay, Washington, Kansas, Texas, Arlington , Texas, Boston, Los Angeles, California, South Florida, Japan, Miami, Milwaukee
The freight shipping company, which went bankrupt in August after a protracted labor dispute, owns approximately 12,000 trucks and 35,000 trailers, according to its bankruptcy court filings. Yellow intends to conduct an auction for the vehicles by Oct 18 and seek court approval for the vehicle sale on Oct. 27. The company is taking a longer time to sell its real estate assets, despite having a $1.525 billion offer in hand from rival shipping company Estes Express Lines. Yellow has set a Nov. 9 bid deadline and expects to seek court approval for a real estate sale in December. A longer sale process will allow more competition for Yellow's 300 shipping terminals and other real estate assets, which have already generated significant interest from buyers.
Persons: Allyson Smith, Craig Goldblatt, Smith, Estes, Donald Trump's, Goldblatt, Dietrich Knauth, Alexia Garamfalvi, Nick Zieminski Organizations: Yellow Corp, U.S, Express, Old Dominion Freight, U.S . Treasury, MFN Partners, International Brotherhood of Teamsters, Thomson Locations: Wilmington , Delaware, Yellow's, Nashville , Tennessee
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Persons: Dow Jones, estes
Yellow said Estes' new bid is the best and superior to Old Dominion Freight Line Inc's (ODFL.O) $1.5 billion August stalking horse bid. Privately held Estes had submitted a $1.3 billion bid last month to acquire Yellow's shipment centers. A stalking horse bid is an initial bid on the assets of a bankrupt company, setting the low-end bidding bar so that other bidders cannot underbid the purchase price. "Estes Stalking Horse Bid is an improvement over the Old Dominion Bid because it offers more money for the Acquired Assets and less fees in terms of bid protections," Yellow said in a filing with the U.S. Bankruptcy Court in Delaware. The nearly 100-year-old company filed for bankruptcy with just $39 million cash on hand, which it said was not enough to run a months-long bankruptcy sale for its 12,000 trucks, real estate holdings and other assets.
Persons: Mike Blake, Yellow, Estes, Ducera, Juby Babu, Subhranshu Sahu Organizations: U.S, Trucking, Express, Old Dominion, Old, Bankruptcy, Ducera Partners, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Delaware, Bengaluru
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