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☆ Tony Hawk turned down a $500,000 payment for 'Pro Skater,' opting for royalties instead. He ended up making at least 8 times that.
▼ + stars: | 2023-03-31 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Tony Hawk made an appearance on "The Diary of a CEO" podcast and discussed his best financial move. Ahead of the release of video game "Pro Skater," he was offered a $500,000 payment for his likeness. Activision's fiscal report from 2002 cites the video game series as "the single largest independent U.S. video game franchise for the fiscal year" and credits the game, in part, for the company's increased revenue. 2020's "Tony Hawk's Pro Skater 1+2" would go on to sell one million units faster than any other iteration of the series, per Activision. "Nowadays an entire generation of kids, have asked me if I'm named after a video game," Hawk said on "Diary of a CEO."

☆ Early photos of Tesla's new Supercharger suggest it fixes a common complaint for non-Tesla EV owners
▼ + stars: | 2023-03-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

The new chargers appear to solve a common Supercharger complaint for non-Tesla EV owners: cable length. The electric-car maker said it plans to open the V4 Supercharger station to non-Tesla's "soon." On Wednesday, the electric-car maker announced it had opened its V4 Superchargers in Harderwijk in the Netherlands. Though, Bink told Insider he wasn't able to experience a faster charge rate because he had a 2018 model. Bink was one of several Tesla owners to take to social media to post pictures and videos of the new charging site.

☆ No exit ramp for Fed's Powell until he creates a recession, economist says
▼ + stars: | 2023-03-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Federal Reserve Chair Jerome H. Powell testifies before a U.S. Senate Banking, Housing, and Urban Affairs Committee hearing on "The Semiannual Monetary Policy Report to the Congress" on Capitol Hill in Washington, March 7, 2023. The U.S. Federal Reserve cannot disrupt its cycle of interest rate increases until the nation enters a recession, according to TS Lombard Chief U.S. He stressed that the Fed lacks clarity on the ceiling of interest rate increases in the absence of such an economic slowdown. Market expectations for the terminal Fed funds rate were around 5.1% in December, but have risen steadily. Goldman Sachs lifted its terminal rate target range forecast to 5.5-5.75% on Tuesday in light of Powell's testimony, in line with current market pricing according to CME Group data.

☆ Fed funds rate to hit 6.5% without mid-year recession, economist says
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed funds rate to hit 6.5% without mid-year recession, economist saysSteven Blitz, chief U.S. economist at TS Lombard, shares his projections for the Federal Reserve's monetary policy trajectory after Chairman Jerome Powell's testimony on Capitol Hill rocked markets.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ Boomers Greed Ruined Economy for Gen Z, Millennials
▼ + stars: | 2023-03-01 | by ( Alex Yablon | ) www.businessinsider.com time to read: +14 min

The boomers' economy is brittle, stingy, and built on undersupply. While inflation may be cooling a bit, future prosperity for millennials, Gen Zers, and beyond depends on reversing this economywide bottleneck created by boomers. Boomers shrank the labor force they need nowThe baby boomers ensured the labor market of the generations after them would be inadequate in a few major ways. The boomer ethos on housing, which views homes not as places to live but as financial assets, is mirrored in the rest of the economy boomers made. They make loans, investment, and housing more expensive — putting the economy on a diet instead of growing the pie.

☆ A year later, the Fed still has a long way to go in the fight against inflation
▼ + stars: | 2023-03-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +9 min

The rate hikes appeared to have quelled some of the inflation surge that inspired the policy tightening. Indeed, Fed officials for months stuck to the narrative that inflation was "transitory" and would abate on its own. Fed Chairman Jerome Powell recently insisted that he and his colleagues are taking "forceful steps" now to bring down inflation. The index most recently showed an annual inflation rate of 6.4%, down from a peak around 9% in the summer of 2022. Citigroup economist Andrew Hollenhorst thinks the Fed could tame key inflation metrics to around 4% by the end of this year.

☆ Barbara Corcoran says she made $1 million in a day selling apartments nobody wanted: I 'created a buying frenzy’
▼ + stars: | 2023-02-26 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

In a recent TikTok video, the co-star of ABC's "Shark Tank" told her followers about a crucial moment in her real estate career, when she was at risk of bankruptcy. The problem: Her Manhattan-based real estate company The Corcoran Group owned 88 empty "terrible apartments" that "nobody wanted" to buy. "The day of the sale, I had 150 people waiting in line for those 88 apartments. More than three decades later, the lesson still matters: "Everybody wants what everybody wants, but nobody wants what nobody wants," Corcoran said. A decade after avoiding bankruptcy by unloading those 88 apartments, Corcoran sold her company to real estate company NRT for $66 million.

☆ Turkish woman dies a day after her rescue
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +2 min

[1/3] Rescuers carry a woman named Zeynep, as the search for survivors continues, in the aftermath of a deadly earthquake in Kirikhan, Turkey February 10, 2023. German rescuers pulled 40-year-old Zeynep Kahraman out of the rubble in the town of Kirikhan in southern Turkey on Friday. "We have just informed the team that she has unfortunately passed away and are now processing this in the team." The German workers made contact with the woman while she was still deep inside the rubble and kept her hydrated through a hose. The combined death toll from Monday's quake in southern Turkey and northern Syria now exceeded 24,000.

☆ Tesla owners reveal the best and worst features of their cars, and what they really think of Elon Musk
▼ + stars: | 2023-02-11 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

Insider spoke with more than a dozen Tesla owners to learn what they like most and least about their cars. We talked to more than a dozen Tesla owners to find out what they like most about their cars — and what they think needs improvement. Since electric cars don't experience the same acceleration lag as gas vehicles, Teslas jolt forward the instant you put your foot down. Con: Stiff rideSome Model 3 and Y owners told Insider their cars are too stiff and jittery over bumpy pavement. Tim Levin/InsiderOver and over, Tesla owners praised the company's extensive network of fast chargers, which is exclusive to Tesla owners in the US.

☆ After 104 hours buried by Turkey earthquake, woman brought out alive
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

[1/5] Rescuers carry a woman named Zeynep, as the search for survivors continues, in the aftermath of a deadly earthquake in Kirikhan, Turkey February 10, 2023. REUTERS/Piroschka van de WouwKIRIKHAN, Turkey, Feb 10 (Reuters) - Rescuers pulled a woman alive out of the rubble of a collapsed building in Turkey on Friday, prompting cheers from onlookers 104 hours after she was buried by the huge earthquake that wrought death and destruction across the region. It’s such a huge relief that this woman under such conditions came out so fit. Her younger sister Zuebeyde looked on and hugged a worker from the German International Search and Rescue (ISAR) team. Reporting by Erol Dogrudogan; Writing by Ben Dangerfield and Andrew Heavens; Editing by Edmund BlairOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Powell confesses 'This time it's different'
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +5 min

Any fear of a radical Fed rethink on the back of the jobs numbers seemed wide of the mark. "This cycle is different from other cycles...it has just confounded all sorts of attempts to predict," Powell admitted. And many think last week's jobs report should similarly be treated with care. They included a minimum tax for billionaires and a quadrupling of the tax on corporate stock buybacks. Brands, Eaton Corp, etcUS terminal rateReuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, Editing by Raissa Kasolowsky <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Diary of a CEO host Steven Bartlett has raised a $100 million fund to back the next generation of Europe's unicorn founders
▼ + stars: | 2023-01-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Diary of a CEO host Steven Bartlett has raised $100 million for his new tech investment fund. Flight Story Fund aims to back diverse founders and will target high-growth startups. Steven Bartlett, the host of the hugely popular Diary of a CEO podcast, has raised over $100 million for his new tech investment vehicle. Flight Story Fund wants to back diverse founders who can create Europe's next cohort of startups worth over $1 billion. The fund wants to invest in 20 companies with deals ranging from $1 million to $10 million.

☆ Why wealth management is Goldman Sachs' new 'crown jewel' with dealmaking at a standstill
▼ + stars: | 2023-01-18 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

CEO David Solomon acknowledged that a stronger wealth and asset management business would have helped the bank weather the storm. One of Solomon's three key priorities for Goldman Sachs is growing management fees in the asset and wealth management arm. Solomon touted the potential for its workplace wealth offering Ayco in October, but private wealth management is another opportunity. Of 43 job postings in asset and wealth management based in the US, 15 are within the private wealth unit. The wealth management business also boosts Goldman's other services, as the bank's co-head of asset management Julian Salisbury said in September.

☆ China central bank to maintain or increase policy-loan liquidity - Reuters poll
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +3 min

The PBOC manages liquidity by extending loans to banks under its one-year medium-term lending facility (MLF). Twelve analysts expected the central bank to replace that debt exactly with 700 billion yuan of new lending, and 10 expected it to go further and lend a greater amount. A great majority - 21 traders and analysts - expected the MLF interest rate to stay unchanged at 2.75% this month, while the remaining four respondents expected a small rate cut. Markets still expect some monetary policy easing measures to support economic recovery, including cuts to policy rates and the amount of cash that banks must set aside as reserves. "The PBOC will likely cut interest rates soon to aid the expected economic recovery this year."

The city did nothing with the property, and it was transferred to the state of California and then to Los Angeles County. The county built its lifeguard training headquarters on the land, which includes a small parking lot. And then it turned into a tragic story for my family,” Anthony Bruce, the great- great-grandson of the Bruces, previously told NBC News. And unfortunately, my family was the victim of a hate crime and the prejudice that was around during those times. Hahn learned about the property’s history and launched the complex process of returning the property, including determining that two great-grandsons of the Bruces are their legal heirs.

☆ Former mob boss Francis 'Cadillac Frank' Salemme dies at 89 while serving life sentence for murder
▼ + stars: | 2022-12-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

BOSTON — Francis “Cadillac Frank” Salemme, the once powerful New England Mafia boss who was serving a life sentence behind bars for the 1993 killing of a Boston nightclub owner, has died at the age of 89, according to the Bureau of Prisons. After being released from prison, Salemme was seriously wounded in a shooting outside a suburban Boston pancake house. The racketeering case revealed that Bulger and Salemme’s best friend, Stephen “The Rifleman” Flemmi, had secretly worked as FBI informants. Just before DiSarro’s death, the FBI told him he was about to be indicted and should cooperate with the government against the Salemmes. “You’re not going to beat the government,” Salemme told a reporter in 2004.

☆ Brazil's best shooters should have taken penalties first, says Klinsmann
▼ + stars: | 2022-12-12 | by ( Rohith Nair | ) www.reuters.com time to read: +3 min

Croatia, the 2018 runners-up, stunned Brazil 4-2 on penalties after Marquinhos and Rodrygo failed to convert. "After conceding the equaliser in the 117th minute, Brazil had no time to switch gears. From the disappointment of conceding a last minute goal to the penalty shootout, there was no time to settle and approach the shootout positively. "With Argentina, they had extra time to play, even with the shock of the (Wout) Weghorst equaliser in the last minute," Klinsmann added. At the end of the game they were far more clearer (in the head) going into the penalty shootout."

☆ Convicted Fyre Festival cofounder Billy McFarland says the Netflix and Hulu shows about his disastrous party were screened in his prison — but he was 'too scared' to watch
▼ + stars: | 2022-12-10 | by ( Kate Duffy | ) www.businessinsider.com time to read: +4 min

Convicted Fyre Festival cofounder Billy McFarland was interviewed by British entrepreneur Steven Bartlett. McFarland said he still hadn't seen the Netflix and Hulu shows about his disastrous party. He told Bartlett he was still not ready to watch the documentaries. Fyre Festival was touted as a luxurious music fiesta in the Bahamas and was promoted by influencers and models such as Kendall Jenner and Bella Hadid. He told Bartlett he'd chosen the latter.

☆ Argentina beat Netherlands on penalties to reach World Cup semi-finals
▼ + stars: | 2022-12-09 | by ( Hritika Sharma | ) www.reuters.com time to read: +1 min

In a scrappy half-hour of extra time with the scores level, Enzo Fernandez rattled the post in the closing seconds while Martinez and German Pezzella also had efforts blocked or parried away as Argentina desperately pushed for a winner. The Netherlands had rarely troubled Argentina during the match before substitute Wout Weghorst's header in the 83rd minute sparked them into life and he rolled the ball past goalkeeper Emi Martinez deep into stoppage time to send the game into extra time. Argentina captain Lionel Messi had superbly set up Nahuel Molina for their first-half opener, threading a sublime pass through the Dutch defence, before coolly slotting in a penalty in the 73rd minute after Denzel Dumfries fouled Marcos Acuna. Argentina will next face Croatia, who beat Brazil on penalties earlier, on Tuesday for a place in the final. Reporting by Hritika Sharma; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-A video of news headlines over time is not proof COVID-19 vaccines are ineffective or a ‘scam’
▼ + stars: | 2022-12-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +7 min

Users on social media are sharing a video of news headlines and portions of articles on COVID-19 vaccine effectiveness over time without context to question whether the vaccines ever worked. Initial clinical trials for Pfizer’s vaccine showed 95% efficacy against symptomatic COVID-19 (here) while Moderna trials showed 94% efficacy (here). CONTEXT COUNTSEarly in the viral video, headlines touting 100% efficacy refer to small trials or specific outcomes. He added that these results are not indicative of vaccine effectiveness for all groups of people, which can vary. A video of news headlines is not proof the vaccines are ineffective or a scam.

November's labor force participation rate of 62.1% was almost exactly where it was in January, with little variation in between. Each month millions of adults change their work status: Some join the labor market by either accepting a job or starting a job search; others move between a job and unemployment; some leave the labor market altogether. Increasingly "workers leaving employment are dropping out of the labor force, not becoming unemployed," TS Lombard economist Steven Blitz wrote recently. Recent changes in labor flow data "underscores the Fed's concern about the supply-demand labor imbalance underpinning inflation." Reuters GraphicsFEWER 'UNRETIREMENTS'The payroll jobs and labor force data come from different surveys, one of firms and one of households, and might be revised over time.

“You have to sample them all and analyze them all to see if they belong to victims or a suspect. The Moscow killings occurred in a three-story, six-bedroom rented house, about a half-block from the University of Idaho campus. The apartment house in Moscow, Idaho, where four students were stabbed to death held an enormous amount of biological evidence, experts say. “So, who could have left that DNA evidence? Before getting answers about DNA, investigators seek clues in the location of blood.

☆ Ex-'socialite heiressblogger' Emily Brill is back — and she's terrorizing the pet industry
▼ + stars: | 2022-12-06 | by ( Kate Taylor | ) www.businessinsider.com time to read: +10 min

Emily Brill might be the most hated woman in the pet industry. Now, Brill — the preppy blond daughter of the media magnate Steven Brill — is reinventing herself as the founder of the dog-centric publication The Canine Review. Courtesy of Emily Brill Show less One reader even threatened to cancel their subscription because of the so-called bird-massacre photo shoot. Courtesy of Emily Brill Show less Brill says the photos reassure readers that "I'm not a stereotypical sort of Manhattan, head-up-my-ass, agenda, PETA person." It isn't a bad start, but "she's got a long way to go to make it really thrive," Steven Brill told Insider.

☆ Sam Bankman-Fried said it's 'not who I am' to shun the press. But legal experts say his recent interviews could come back to haunt him.
▼ + stars: | 2022-12-02 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +5 min

In new media appearances, Sam Bankman-Fried openly mused about his culpability in FTX's crash. Bankman-Fried told Sorkin at one point that "I didn't knowingly commingle funds," between FTX and his other company, the hedge fund Alameda Research. "Like, I wasn't spending any time or effort trying to manage risk on FTX," he told the "Good Morning America" anchor. Greg Joseph and Stanford Law professor David Mills, who Semafor reported last month represent Bankman-Fried, didn't respond to Insider's email for comment Thursday evening. Representatives for FTX did not respond to a request for comment, and Bankman-Fried did not respond to a Twitter DM seeking comment.

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