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Federal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat Brands, Wiederhorn and a few other people were criminally indicted by a federal grand jury in Los Angeles for wire fraud, tax evasion and other counts related to the alleged scheme. "These charges are unprecedented, unwarranted, unsubstantiated and unjust," Fat Brands counsel Brian Hennigan said in a statement. As chief executive of Fat Brands, Wiederhorn, 58, allegedly directed the company to loan its own funds to him, with no intention of ever paying the "sham" loans back, according to the indictment. He also did not report any of the so-called loans from Fat Brands as income, according to the indictment.
Persons: Andy Wiederhorn, Johnny, Brian Hennigan, Wiederhorn, overreach —, Nicola Hanna, Wiederhorn's, Thayer, Ron Roe, Rebecca Hershinger, William Amon Organizations: Brands, Johnny Rockets, U.S . Securities, Exchange Commission, Fat Brands, SEC, Fog, Wiederhorn Locations: Los Angeles, Oregon, U.S
In the middle of the last century, as the United States and Russia rapidly amassed thousands of nuclear weapons, China stayed out of the arms race, focusing its energy on growing its economy and broadening its regional influence. Beijing did build hundreds of nuclear weapons during those years, but the nation’s leaders insisted their modest arsenal was merely for self-defense. Since China’s first nuclear weapons test, in 1964, the country has pledged loudly to never go first in a nuclear conflict — no matter what. Now there is increasing unease in Washington about China’s nuclear ambitions. China’s transformation from a small nuclear power into an exponentially larger one is a historic shift, upending the delicate two-peer balance of the world’s nuclear weapons for the entirety of the atomic age.
Organizations: Pentagon Locations: United States, Russia, China, Beijing, Washington
In America, it’s the president who decides whether the country goes to nuclear war. In this audio essay, W.J. Hennigan argues against the United States’ sole decision-making authority on nuclear weapons. The country’s nuclear power structure, he says, is “too much power for one person to have, to decide whether or not the world as we know it will exist.”(A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)
Persons: Hennigan Organizations: United States ’ Locations: America
The national security writer W. J. Hennigan has spent many years ringing the alarm about the world’s new nuclear era — the subject of At The Brink, a new series from New York Times Opinion — and the crisis on the horizon. For anyone whose interest was piqued by the origin story of nuclear weapons in “Oppenheimer,” Mr. Hennigan, who happens to be a movie buff, recommends three essential films that illuminate our new nuclear era. An edited transcript of the above audio essay by Mr. Hennigan follows:W.J. For the past quarter-century, an entire generation has come of age without really having to worry about the bomb. This has not something that’s been front of mind.
Persons: Hennigan, “ Oppenheimer, ” Mr, Mr, haven’t, that’s, Christopher Nolan, it’s Organizations: New York Locations: Ukraine
Opinion SoleAuthority Forty-five feet underground in a command center near Omaha, there’s an encrypted communications line that goes directly to the American president. Buried below is a military command headquarters constructed in case of a missile attack amid a national emergency. Yet regardless of who wins this election, or the next one, the American president’s nuclear sole authority is a product of another era and must be revisited in our new nuclear age. The jet’s crew can contact the president, verify his or her identity and relay a nuclear attack order to bomber squadrons, submarines and intercontinental ballistic missile silos. It is, however, unacceptable for an American president to have the sole authority to launch a nuclear first strike without a requirement for consultation or consensus.
Persons: , Anthony Cotton, Biden, Donald Trump, Harry Truman, Truman, Truman’s, Jake Sullivan, ” Mr, Sullivan, , Richard Nixon, wasn’t, Trump, Henry Kissinger, Nixon, Mark Milley, Nancy Pelosi, Bob Woodward, Robert Costa, Kissinger, Milley, Robert Kehler, Stratcom, Kehler, we’ve, That’s Organizations: U.S . Strategic Command, North American Aerospace Defense Command, NORAD, Joint Chiefs, Staff, American, White House, Strategic Command, White, North, Democrats, Chiefs, Air Force, Senate, U.S ., United Locations: United States, Omaha, U.S, America, Hiroshima, Nagasaki, Soviet, North Korea, Trump’s
The United States estimates Russia has a stockpile of up to 2,000 tactical nuclear warheads, some small enough they fit in an artillery shell. But the detonation of any tactical nuclear weapon would be an unprecedented test of the dogma of deterrence, a theory that has underwritten America’s military policy for the past 70 years. Possessing nuclear weapons isn’t about winning a nuclear war, the theory goes; it’s about preventing one. If Mr. Putin dropped a nuclear weapon on Ukraine — a nonnuclear nation that’s not covered by anyone’s nuclear umbrella — what then? Many in the administration believed the Kremlin’s dirty bomb ploy posed the greatest risk of nuclear war since the 1962 Cuban missile crisis.
Persons: Putin, Sergei Shoigu, Lloyd Austin, Russia Sergei Shoigu, Britain Ben Wallace, Defense Turkey Hulusi Akar, Sebastien Lecornu, General Austin, Mark Milley, Biden, Putin’s, William J, Burns Organizations: United, of American, NATO, Defense, State, Defense Turkey, National Defense, Defense Minister American, Russian, Biden, Joint Chiefs, Staff, Moscow, White House, State Department, The Energy Department, Strategic Command, , Pentagon, Unmute Defense, Central Intelligence Agency Locations: Washington, Ukraine, Russia, United States, Kharkiv, Kherson, Russian, U.S, Crimean, Moscow, Poland, China, India, Turkey
In New York Times Opinion’s latest series, At the Brink, we’re looking at the reality of nuclear weapons today. Within two years, the last major remaining arms treaty between the United States and Russia is to expire. Part of the answer is that both of those active conflicts would be far more catastrophic if nuclear weapons were introduced into them. Their efforts helped to end atmospheric testing of nuclear weapons, which, in certain cases, had poisoned people and the environment. The United States could insist on robust controls for artificial intelligence in the launch processes of nuclear weapons.
Persons: We’ve, Vladimir Putin, Biden, Hennigan, aren’t, Donald Trump, I’ve, , , Jamie Dimon, JPMorgan Chase Organizations: New York Times, JPMorgan Locations: Ukraine, United States, Russia, Iran, China, Poland, Japan, Saudi Arabia
He had eight catches for 130 yards and two TDs last week to set an NFL record with his sixth straight game with at least 125 yards receiving. Brown has 831 yards in his last six games and is currently on pace for 1,995 — slightly ahead of Johnson's record. Mahomes had won 13 straight games in the division, one shy of the longest streak since the merger held by Peyton Manning and Andrew Luck. Mahomes also saw an end to his streak of 35 straight games in the regular season or playoffs with at least one TD pass. The Panthers had lost 56 straight games when they trailed at any point in the fourth quarter for the longest streak since at least 1991.
Persons: Brown, Calvin Johnson's, Charley Hennigan, Elroy Hirsch, Don Hutson, QBS Will Levis, Marcus Mariota, Hall, Hall of Famer Fran Tarkenton, Levis, Bryce Young, Anthony Richardson, Aidan O’Connell, Dorian Thompson, Robinson, Tyson Bagent, Jaren, Kirk Cousins, Clayton, Young, Peyton Manning, Ryan Leaf, Zach Wilson, Trevor Lawrence, Mariota, Jameis Winston, Rick Mirer, Drew Bledsoe, BUSTER Kansas, Patrick Mahomes, Otto Graham, Mahomes, Andrew Luck, Drew Brees, San, Kyle Shanahan, Tyrod Taylor, Tommy DeVito, Ryan Leaf's, ___ Organizations: NFL, Miami Dolphins, Philadelphia Eagles, Levis, Atlanta, Hall of Famer, C.J, Arizona, Young, Stroud, Panthers, Denver, Chiefs, Broncos, Miami, Buffalo, San, Rams, Kansas City, Carolina, Sunday, Philadelphia, New York Giants, Jets, The Giants, Giants, Cleveland, Jacksonville, Chargers, Raiders, Eagles Locations: A.J, Tennessee’s, Stroud, Minnesota, San Francisco, Kansas
Recovering profit margins may prompt complex refiners to maximise yields of transport fuels, causing excess naphtha output as a byproduct in a tepid petrochemical market and further depressing feedstock margins. Mandell expects margins to continue to perform well throughout the year heading into higher-demand crop planting season and into winter in the United States. "The healthy margins reflect the bull market for diesel combined with still strong gasoline cracks even if gasoline did weaken sharply on week. U.S. oil companies said during recent second quarter earnings presentations that strong global demand for fuels and low product inventories are driving robust profits. "Global capacity additions continue to progress slower than anticipated, and we believe that global demand growth will remain strong," Hennigan added.
Persons: Brian M, Mandell, Eugene Lindell, bullish HSFO, FGE's Lindell, Lindell, ENEOS, Phillips, Michael J, Hennigan, Mohi Narayan, Laura Sanicola, Ahmad Ghaddar, Jeslyn Lerh, Tony Munroe, Muralikumar Organizations: NEW, Phillips, Saudi, Reuters, Petronas, Hyundai, India's Reliance Industries, Oil, Marathon Petroleum, Marathon, Thomson Locations: NEW DELHI, WASHINGTON, Latin America, Asia, United States, Europe, Singapore, Malaysia, South Korea, U.S, New Delhi, Washington, London
Occidental said its CEO pay ratio follows the rules laid out by the U.S. Securities and Exchange Commission (SEC). IT'S RELATIVE WHEN IT COMES TO RETURNSTo be sure, the value of stock-based pay shrinks when markets sour. But most energy CEOs also have a measure of built-in protection from steep declines. That’s because about 90% of energy companies measure stock performance against others in the same industry who tend to suffer at similar times. Many energy companies are under pressure from investors to reform CEO pay, according to disclosures in their annual proxy statements.
Persons: Aeisha, Virginia Parks, Christina Noel, Darren Woods, Exxon, Michael Hennigan, , Rosanna Landis Weaver, Toby Rice, EQT, Phillips, ” Phillips, ” Mastagni, Richard Valdmanis, Anna Driver Organizations: Energy, California State Teachers, Marathon Petroleum, University of California Irvine, Occidental Petroleum Corp, Occidental, U.S . Securities, Exchange Commission, SEC, American Petroleum Institute, ExxonMobil, Services, Microsoft, Exxon, New York, EQT Corp, Reuters, Thomson Locations: U.S, California, Virginia, CalSTRS
The London-listed stock of the tech venture capitalist company is a "rare" and "attractive" investment opportunity thanks to several factors, according to Berenberg's analysts. First, Molten's shares fell by 65% last year in tandem with its peers in the Goldman Sachs non-profitable technology index. The analysts said the stock also appears undervalued as a result of "fear-mongering" about the state of the VC sector. Even the most conservative analysts covering the stock, James Lockyer from Peel Hunt and Gerry Hennigan from Goodbody, have a price target pointing toward a 90% upside. The average price target of four analysts compiled by FactSet shows an upside of 103.8% as of Feb. 22.
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