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☆ How Trump managed to lose $1 billion in net worth in a single day
▼ + stars: | 2024-04-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

That’s kinda what happened for investors in Trump Media & Technology Group, the troubled owner of Truth Social, on Monday. Even with Monday’s stumble, the stock is still up about 200% over the past six months, giving it a $6.6 billion valuation that defies logic. Trump Media, aka TMTG, generated just $4.1 million in revenue last year. But if history repeats, or even echoes, with Trump Media, investors may want to buckle up. Bottom line: Monday’s slump is hardly game over for Trump and his social media company.

Persons: CNN Business ’, Wile, Coyote, Monday’s, Matt Egan, It’s, ” Axios, Dan Primack, “, Donald Trump, David, dusts Organizations: CNN Business, New York CNN, Trump Media & Technology Group, Truth, Trump Media, GameStop, Trump Locations: New York, selloff

☆ My 93-year-old dad taught me the importance of friendships
▼ + stars: | 2024-02-19 | by ( Amy Abbott | ) www.businessinsider.com time to read: +3 min

He held every office in civic and church clubs, including Lions Club Tail Twister. A highly responsible position, The Tail Twister enforced fines for made-up infractions like wearing the wrong color tie. The punishment: the Tail Twister cut off the offending tie about three inches below the knot. At 66, I've lost my mother and all my grandparents, but I haven't lost any close friends near my age. Like my Dad, I'm a planner and an instigator, always trying to stay in touch.

Persons: Dad didn't, Bob, Dad, Jim, Harry Truman's, I've, it's, Dad's, I'm Organizations: Service, Business, Wrigley Field, Wile Locations: Virginia, Denver, Chicago

☆ They’re Tiny, They’re Toony, They’re Packing Off to Uni
▼ + stars: | 2023-09-07 | by ( Laurel Graeber | ) www.nytimes.com time to read: +1 min

First-year college students everywhere are now adjusting to campus life. Few, however, have to choose between classes like Banana Peel Placement and Whoopie Cushion Alternatives. Or suffer the crash of anvils on their heads when they give wrong answers. These experiences belong exclusively to the incoming freshmen of “Tiny Toons Looniversity,” a new animated series that begins streaming on Friday on Max and airing on Saturday on Cartoon Network. With Steven Spielberg as an executive producer, the show revives the characters and setting of the Emmy Award-winning early-’90s series “Tiny Toon Adventures,” whose own comic DNA descended from the “Looney Tunes” short films of the 1930s-60s.

Persons: Steven Spielberg, ”, Bugs, Daffy Duck, Wile E, Babs, Buster Bunny, Plucky, Hamton J, they’ve Organizations: Max, Cartoon Network, Acme, Warner Bros Locations: hilarity

☆ Driving Lamborghini's new off-road supercar
▼ + stars: | 2023-05-20 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

I was driving a $380,000 Lamborghini Huracán Sterrato, and I couldn’t help laughing out loud. Lamborghini worked with Bridgestone to create tires using rubber similar to that on Lamborghini’s other performance tires, but with an off-road tread. The idea for it emerged while Lamborghini engineers and designers were having beers after a day driving off-road in a prototype of the Urus SUV. That was a lot of fun, they thought, but wouldn’t driving one of our all-wheel-drive supercars off-road be even better? Even those of us who can’t afford one should perhaps be glad the Lamborghini Huracán Sterrato exists.

☆ The park with the most roller coasters in the world
▼ + stars: | 2023-04-30 | by ( Forrest Brown | ) edition.cnn.com time to read: +13 min

Impressive collections can be found in many parts of the world, but which park currently holds more roller coasters than any other? With a whopping 20 roller coasters, Six Flags Magic Mountain even rates a mention with Guinness World Records – helping the park justify its “Thrill Capital of the World” slogan. “I think there are a lot of great rides at Six Flags Magic Mountain.” he told CNN Travel recently. “But there are some other more fundamental reasons for why Six Flags Magic Mountain has so many roller coasters.”Location, prosperity and weather all played roles, he said. They’re fast, they’re twisty.”GoliathMartin Lewison said Goliath has the biggest drop of any traditional-style roller coaster at Six Flags Magic Mountain.

☆ Premarket stocks: From Wile E. Coyote to edibles: Recession forecasts are getting weird
▼ + stars: | 2023-03-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +12 min

And for the US economy, it could likely mean a “Wile E. Coyote moment,” Summers said — if we run off the cliff, gravity will eventually win out. AntibioticsWhen describing the state of the economy, Summers doesn’t just rely on Looney Tunes. “Will working people be better off if we just walk away from our jobs and inflation remains 5% or 6%?” Powell replied. Before the Bell: Is it necessary to increase the unemployment rate to successfully fight inflation? In a related action, the government shut down Signature Bank, a regional bank that was teetering on the brink of collapse in recent days.

☆ Elon Musk is behaving 'like the local drunk,' says a former Twitter executive
▼ + stars: | 2023-03-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

A former Twitter exec told i News that Elon Musk was behaving "like the local drunk." "The more Musk behaves like the local drunk – getting into slanging matches with disabled ex-employees – the less current employees will be proud to say they work there," Daisley told i News. Just a week after taking control of Twitter, Musk laid off around half of its workers. "It's a little bit like the character in the cartoon who runs off the cliff but doesn't fall straight away," Daisley told i News. Under Musk, Twitter has become "a pressure cooker," an employee who still works at the company and who spoke on the condition of anonymity told i News.

☆ Larry Summers: US economy could hit an ‘air pocket’ in the coming months
▼ + stars: | 2023-03-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

“The process of bringing down inflation will bring on a recession at some stage, as it almost always has in the past,” Summers said. “The economy could hit an air pocket in a few months,” he said. Former Treasury Secretary Larry Summers tells CNN's Poppy Harlow in a March 6, 2023, interview that the economy could face a "Wile E. Coyote" moment in the coming months. CNNFor the past year, the Fed has enacted a series of interest rate hikes aimed at chilling demand and cooling down historically high inflation. In February, the Fed’s policymaking committee approved a quarter-point interest rate hike — its smallest increase in several months.

☆ The US economy may be inching closer to the cliff edge given these 4 troubling signs, Larry Summers says
▼ + stars: | 2023-02-24 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Ex-Treasury chief Larry Summers thinks the economy is edging closer to a "Wile E. Coyote" fall off a cliff. "People may be reading a bit too much into the moment in terms of economic strength," he warned. On the other, there is stuff when you look down the road a bit that has to be substantially concerning about a Wile E. Coyote kind of moment," Summers said. As a result, he warned the Federal Reserve needs to stay nimble and flexible given the continued uncertainty about the US economy. Summers' pessimism about the economy builds on warnings he's made in the past.

☆ Investment management firm AQR books best year in several strategies
▼ + stars: | 2023-01-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Jan 6 (Reuters) - Investment management firm AQR's Absolute Return Strategy in 2022 saw its best year since its inception since 1998, a source with knowledge of the matter said on Friday. Its Equity Market Neutral Global Value and its Global Macro strategies both posted record years at 44.7% and 42.0% net of fees. Its Alternative Trend Strategy also had its best year ever, with a 48.9% net of fees, the source added. AQR is an investment firm that has hedge fund strategies but also includes long-only and mutual funds. Trend strategies would continue to succeed for AQR during sustained downturns and persistent macro volatility, the source told Reuters.

☆ Former Twitter engineer compares company's current state to Looney Tunes character Wile E. Coyote running off a cliff
▼ + stars: | 2022-11-19 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

Twitter may have functionality issues after 1,200 employees resigned Thursday, NYT reported. One former engineer described the company like Wile E. Coyote running off a cliff. Making good on his promise to investors to cut staffing by 75%, Musk initiated layoffs immediately following the completion of the deal. One former engineer told The New York Times the company's current situation is similar to when the Looney Tunes character Wile E. Coyote runs off a cliff — continuing on in midair for a moment and plunging like a rock once he looks down. Musk and representatives for Twitter did not immediately respond to Insider's requests for comment.

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