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☆ Diffuse CEO Kenny Estes explains what led to bitcoin's big drop
▼ + stars: | 2023-08-23 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiffuse CEO Kenny Estes explains what led to bitcoin's big dropDiffuse CEO Kenny Estes weighs in on what could have caused bitcoin's big drop last week and describes the opportunities for investors amid the current environment.

Persons: Kenny Estes

☆ Bankrupt Trucker Yellow Taps Estes Express for $1.3 Billion Real-Estate Sale
▼ + stars: | 2023-08-17 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Trucking firm Estes Express submits $1.3 billion bid for Yellow's shipment centers
▼ + stars: | 2023-08-17 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico in San Diego, California, U.S., August 7, 2023 after the company filed for bankruptcy protection. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Aug 17 (Reuters) - Trucking firm Estes Express has submitted a $1.3 billion bid to acquire bankrupt Yellow Corp's shipment centers, attorneys said on Thursday at a U.S. bankruptcy court hearing. Yellow's attorney Allyson Smith said the Estes proposal was received while Yellow was negotiating several offers for bankruptcy financing. Apollo initially offered to fund Yellow's bankruptcy with a $142.5 million loan, but instead bowed out after Yellow received competing offers with lower fees and interest rates. The union, which represents about 22,000 Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy.

Persons: Mike Blake, Allyson Smith, Estes, Smith, Craig Goldblatt, Yellow, Judge Goldblatt, Dietrich Knauth, Chris Reese, Cynthia Osterman, Alexia Garamfalvi, Jonathan Oatis Organizations: U.S, Trucking, Express, Citadel, MFN Partners, U.S . Treasury Department, Apollo Global Management, Apollo, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee

☆ Trucking firm Yellow extends bankruptcy loan talks until next week
▼ + stars: | 2023-08-11 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Yellow filed for bankruptcy on Sunday with a loan offer for that amount from private equity firm Apollo, a senior lender to the company before its bankruptcy. The trucking company said earlier this week it was seeking alternative financing from MFN Partners, an investment firm that owns 41% of Yellow's stock, and Estes Express Lines, a rival in freight trucking. Yellow intends to use its bankruptcy to sell all of its assets, including 12,000 trucks and over 300 shipping service centers. The union, which represents about 22,000 laid-off Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy. Yellow owes the U.S. Treasury over $700 million on a pandemic bailout loan approved by former President Donald Trump's administration in 2020.

Persons: Mike Blake, Pat Nash, Craig Goldblatt, Nash, Dennis Dunne, Donald Trump's, Dietrich Knauth, Mark Porter, Andrea Ricci, Alexia Garamfalvi, Richard Chang Organizations: U.S, Yellow Corp, MFN Partners, Estes Express, Apollo, U.S . Treasury Department, International Brotherhood of Teamsters, U.S . Treasury, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee

☆ Trucking firm Yellow explores alternate bankruptcy loans
▼ + stars: | 2023-08-09 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico in San Diego, California, U.S., August 7, 2023 after the company filed for bankruptcy protection. REUTERS/Mike BlakeNEW YORK, Aug 9 (Reuters) - Bankrupt trucking company Yellow Corp (YELL.O) will not seek court approval to borrow $142.5 million from private equity firm Apollo Global Management as planned on Wednesday, instead seeking time to explore alternate loan offers, an attorney for the company said. Yellow is weighing those offers while negotiating with Apollo on how those loans would impact Apollo's collateral rights on a pre-existing $501 million loan. Yellow plans to return to court on Friday with more clarity on which loan it will choose. The union, which represents about 22,000 Yellow employees, said the Nashville, Tennessee-based company "mismanaged" its way to bankruptcy despite concessions made by workers.

Persons: Mike Blake NEW, Pat Nash, Craig Goldblatt, Nash, Goldblatt, Dietrich Knauth, Chris Reese, Richard Chang Organizations: U.S, Yellow Corp, Apollo Global Management, MFN Partners, Estes Express, Apollo, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Wilmington , Delaware, Nashville , Tennessee

☆ Opinion: Biden has a Kennedy problem
▼ + stars: | 2023-07-07 | by ( Julian Zelizer | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden might have a Kennedy problem. There are many reasons Kennedy might cause trouble for Biden. At the end of last year, Biden switched the Democratic primary schedule to put South Carolina first. As a result, Biden might not even appear on the New Hampshire ballot, effectively ceding the state to Kennedy and author and speaker Marianne Williamson. Many of Biden’s 2020 supporters are frustrated with the president, and any attacks Kennedy will unleash could damage Biden and provide a foundation for Republicans to go after him in the campaign.

Persons: Julian Zelizer, Joe Biden, Kennedy, Robert Kennedy Jr, Joe Rogan’s, Biden, Marianne Williamson, Lyndon B, Johnson, Sen, Eugene McCarthy of Minnesota, Ronald Reagan, —, Gerald Ford, McCarthy, Estes, Harry Truman, Kefauver, Truman, Ted Kennedy of, Jimmy Carter, Ted Kennedy, Carter, Reagan, Patrick Buchanan, George H.W, Buchanan, “ King George ”, Bush, specter, Trump, Kennedy doesn’t Organizations: CNN, Princeton University, New York Times, America, Twitter, Democratic, New York Magazine, Biden, South Carolina, New, Republican, Tennessee, Facebook, Republicans Locations: New York, New, But New Hampshire, Granite, New Hampshire, Ted Kennedy of Massachusetts, George H.W . Bush, Hampshire

☆ Nvidia WPP deal: The world's biggest ad agency is going all in on AI
▼ + stars: | 2023-05-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —WPP, the world’s largest advertising agency, has teamed up with chipmaker Nvidia to create ads using generative artificial intelligence. This new technology will transform the way that brands create content for commercial use,” WPP CEO Mark Read said in a statement. The platform will enable WPP (WPP)’s creative teams to integrate content from organizations such as Adobe and Getty Images with generative AI to produce advertising campaigns “more efficiently and at scale,” according to WPP (WPP). In the demo screened by Huang, WPP had created realistic footage of a car driving through a desert. “It’s much easier to identify the jobs that AI will disrupt than it is to identify the jobs that AI will create,” Read told the Financial Times Monday.

☆ TikTok advertisers stick by the app amid threat of U.S. ban
▼ + stars: | 2023-05-04 | by ( Sheila Dang | ) www.reuters.com time to read: +3 min

May 4 (Reuters) - Advertisers are committed to continue spending on TikTok due to its immense popularity with users despite threats of a potential ban in the U.S. over national security concerns, ad experts said. The short-form video app has already been banned from government-issued phones in multiple countries. Two media buyers at two different major ad agencies told Reuters that Washington's scrutiny over the app had yet to impact their clients' plans on TikTok. Still, several media buyers acknowledged the threat of a U.S. ban would be the "elephant in the room" during the advertiser presentation. TikTok said it is addressing advertiser concerns "head on in an open, fact-based and ongoing dialogue."

☆ Manhattan federal prosecutor joins Kramer Levin law firm
▼ + stars: | 2023-05-02 | by ( Chinekwu Osakwe | Thomson Reuters | Chinekwu Osakwe Covers Legal Industry News With A Focus On Midsize Law Firms. Reach Her At Chinekwu.Osakwe Thomsonreuters.Com. | ) www.reuters.com time to read: +1 min

Law Firms Kramer Levin Naftalis & Frankel LLP Follow(Reuters) - New York-founded law firm Kramer Levin Naftalis & Frankel said Tuesday that it has hired former Assistant U.S. Attorney Jordan Estes, who co-led the general crimes unit in the Southern District of New York, for its white-collar and government investigations practice. Estes was the lead or co-lead prosecutor on 13 criminal trials ranging from securities fraud matters, insider trading, bank fraud, health care fraud and racketeering, Kramer Levin said. Estes helped secure last year's conviction of Trevor Milton, the founder of electric vehicle company Nikola Corp, on charges that he defrauded investors. In February, prominent Kramer Levin white-collar partner Barry Pollack left the firm to join New York midsize law firm Harris St. Laurent & Wechsler's new Washington, D.C. office. Read More:N.Y. law firm launches in D.C. with white-collar duoOur Standards: The Thomson Reuters Trust Principles.

☆ Truck Drivers Bear Big Burden on Data Collection. Some Companies Want to Change That.
▼ + stars: | 2023-04-26 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +1 min

Former truck driver Darren Suarez is terminal manager at Estes Express Lines’ Pine Brook loading dock in New Jersey. Photo: Isabelle BousquetteBeing a truck driver in the 1980s was terrible. Just ask former driver Darren Suarez, who spent years perched in boiling hot cabs with no air conditioning and only crank-down windows. Truck cabs today typically have air conditioning, and a lot else has changed since then, but one thing hasn’t: Drivers are still tasked with collecting and keeping track of detailed shipment data for logistics companies. And although that process has transitioned from paper to digital via app, drivers still bear the brunt of that burden—and it is one of the modern supply chain’s major inefficiencies.

Nvidia Corp (NVDA.O) unveiled its own service, known as "Picasso," that uses AI to generate images, videos and 3D applications from text descriptions. Nvidia trained the technology on images licensed from Getty Images, Shutterstock Inc (SSTK.N), and Adobe, and plans to pay royalties. Image-generation technology is "trained" on billions of images, but whether that use is legally permitted is not always clear. Because the AI has been trained on Adobe Stock images, openly licensed content and older content where copyright has expired, the resulting creations are safe for commercial use, it said. "We're very interested in making this creator friendly," Ely Greenfield, chief technology officer for digital media at Adobe, told Reuters.

☆ House, Senate to renew fight pitting child tax credit vs. corporate cash
▼ + stars: | 2023-02-15 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

The fate of that corporate tax policy, supported by many Democrats, had been linked to the Democratic Party's desire for a deal on the child tax credit . But House and Senate members are getting ready to reintroduce legislation on the R&D tax credit. Indexing the child tax credit to inflation would also be a matter of tax policy that both parties might agree on as a way to enshrine future increases in law. But there's still the divide on the corporate tax priorities and child tax credit, and at a basic level, getting a bipartisan tax bill through the House and Senate and to the White House is always challenging. Many companies were surprised that the R&D tax credit did not get extended in the late year legislative package because it had so much bipartisan support.

☆ A new test for autism hopes to help doctors diagnose before symptoms show
▼ + stars: | 2023-01-05 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com time to read: +8 min

Researchers have discovered myriad risk factors associated with autism, including infections during pregnancy, air pollution and maternal stress. “We can detect the clear rhythm of autism with just about one centimeter of hair,” Arora said. Autism diagnosis timingArora and his team hope their technology could help young children, even newborns, receive early interventions for autism sooner than they can now. “We want to enable early intervention.”There is not yet a biological test for autism spectrum disorder. Perhaps eventually, that information could open up new pathways for the development of drugs or therapies for autism, he said.

☆ Colorado homebuyers are gaining the upper hand in cities like Denver, where prices fell 10% since spring, but properties in ski towns are not getting any cheaper
▼ + stars: | 2022-11-11 | by ( Robert Davis | ) www.businessinsider.com time to read: +5 min

Colorado ski towns are struggling with low housing inventory, which is keeping prices high. The numbers suggest that while the Denver housing market appears to have peaked in April, median sale prices are still up year-over-year. Other popular ski towns like Frisco, Dillon, and Aspen have also passed similar laws. Other popular ski towns like Glenwood Springs and Estes Park are having similar struggles, the report suggests. Meanwhile, the average price of single-family homes in Estes have increased by 14.8% since October 2021 while the price of condos have jumped by 11.8%.

☆ Ex-Army sergeant pleads guilty to brutal stabbing death of fellow soldier in Georgia barracks
▼ + stars: | 2022-10-27 | by ( Minyvonne Burke | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

A former Army sergeant admitted to the brutal 2020 stabbing of a fellow soldier in his Georgia barracks, a killing federal prosecutors say was retaliation "in cold blood" for the soldier reporting marijuana use. Under the plea agreement, he faces a mandatory minimum sentence of life in federal prison, the Department of Justice said in a news release on Thursday. "The pair discussed beating Hawk up, damaging his car, or breaking things in Hawk’s barracks room," the plea agreement says. The following day, around 12:20 a.m., Booker parked his vehicle outside of a gate on the base and "unlawfully" entered before walking to Hawk's barracks room. The fight made so much noise that Brown, in a room below, could hear furniture moving, the plea agreement states.

Companies Nikola Corp FollowNEW YORK, Oct 13 (Reuters) - A prosecutor on Thursday urged jurors to convict Nikola Corp (NKLA.O) founder Trevor Milton of fraud, calling him a "con man" who lied about the low-emission vehicle company to defraud ordinary investors. Federal prosecutors during closing arguments in New York said Milton deceived investors about the electric- and hydrogen-powered truck maker's technology starting in November 2019. Milton left the company in September 2020 after a report by short seller Hindenburg Research called the company a "fraud." Register now for FREE unlimited access to Reuters.com Register"Trevor Milton is a con man," Estes told the jury. Milton's attorneys have said he believed in his vision for the company and that prosecutors distorted his statements about Nikola's plans to shake up the automotive industry.

☆ Bitcoin, aproape de cea mai mare valoare din istorie, iar prognozele sunt amețitoare
▼ + stars: | 2020-11-25 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Valoarea maximă pe care a atins-o criptomonedă este de 19.666 de dolari, spre sfârșitul lui 2017, scrie digi24.roBitcoin-ul a crescut cu 40% în noiembrie şi cu aproximativ 160% în 2020. Brain Estes, chief investment officer în cadrul fondului de investiţii Off the Chain Capital, spune că valoarea unui bitcoin poate atinge anul viitor pragul de 100.000 de dolari. „În trecut, bitcoin-ul a crescut de zece, douăzeci sau de treizeci de ori într-un an. N-ar fi mare lucru să crească de cinci ori”, a declarat Estes, adăugând că valoarea criptomonedei ar putea ajunge la 288.000 de dolari până la sfârşitul lui 2021. În schimb, Lennard Neo, şeful echipei de cercetare din cadrul Stack, un furnizor de index fund pe bitcoin, se aşteaptă ca valoarea criptomonedei să depăşească 60.000 de dolari în următoarele 12 luni.

Persons: Brain, Tom Fitzpatrick

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