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☆ Matt Onofrio made $35 million helping everyday people invest in real estate. Then he was indicted. Was it all a scam?
▼ + stars: | 2023-06-01 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +21 min

The MMA fighter Michael Chandler, pictured with his wife, Brie Willett, bought a $16 million property from Matt Onofrio in 2021. Then, in November 2022, federal prosecutors indicted Onofrio on charges involving three deals he'd arranged in Minnesota the year before. The federal complaint doesn't involve the property Onofrio sold to Chandler. Unbeknownst to Hermann, Onofrio had already tied up the warehouse in contract for $4.75 million. "Matt was finding a deal for $4 million and selling it for $5 million," Stageberg said.

Persons: Matt Onofrio, anesthetist, who'd, Onofrio, Michael Chandler, Chandler, Brie Willett, Rick Diamond, Michael didn't, Matt, Brendan Johnson, he'd, fraudster, who's, Matthew Hermann, Hermann, he's, —, Anthony Vicino, unburden, Hermann countersued, Let's, Nick Stageberg, Stageberg, Vicino, couldn't, wasn't, Zacari Pennington, Brandon Turner, David Greene, Pennington, Brad Lea's, Ryan Pineda's, Alec McElhinny, Onofrio's, Greene, Ed Mylett, Mylett, Lily Ro Onofrio, Lea, Brittany Arnason, BiggerPockets, Cameron Cropsey, Scott Trench, Nicholas Perrone, Wild Organizations: Onofrio, CMT, Chandler, Wild Moose Ventures, Finance & Commerce, Mayo Clinic, Moose Ventures, Wild, Ventures Locations: Wisconsin, California, Sauk Rapids , Minnesota, Minnesota, Onofrio, Minneapolis, Mexico City, Mayo, Denver, Nashville, Church, Golden Valley , Minnesota, Macon , Georgia, Pennington

☆ Meet David Sacks, the friend of Elon Musk who could play kingmaker for Ron DeSantis
▼ + stars: | 2023-06-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +12 min

Ron DeSantis — including hosting the candidate's kickoff event on Twitter — demonstrate how Sacks is working to become a GOP kingmaker. A DeSantis campaign spokesman did not return a request for comment before publication. Sacks, according to Puck, serves as one of the group's directors. Kevin McGrann, a lobbyist at government relations juggernaut Forbes Tate Partners, is also linked to Bay Strategies, according to Hall. And Sacks said during a recent episode that he plans to ask the DeSantis campaign for the Florida governor to agree to an interview.

Persons: David Sacks, Paul Chinn, Caroline Wren, Wren, Donald Trump's, Jan, president's, Sacks, George Soros, Puck, Ron DeSantis, Peter Thiel, Ro Khanna, didn't, Joe Biden, Thiel, Elon Musk, –, Joe Lonsdale's, Julie Samuels, Samuels, DeSantis, I've, Trump, Stewart Hall, Jill Kendrick, Hall, Sen, Richard Shelby, Kendrick, Kevin McGrann, juggernaut Forbes, McGrann, John Boehner, OpenSecrets, Musk, Bari Weiss, isn't, Peter, Jason Calacanis, David Friedberg, Chamath, Robert F, Kennedy Jr, Kennedy, Biden, Nikki Haley, Calacanis Organizations: TechCrunch, Calif, San Francisco Chronicle, Hearst Newspapers, Getty Images Venture, Trump, U.S . Capitol, Republicans, Commission, Florida Gov, Twitter, GOP, PayPal, CNBC, Democratic, Microsoft, DeSantis, Purple Good Government PAC, FEC, Ron DeSantis PAC, PAC, Republican Party, Purple Good Government, Stewart, Public, Crossroads, Altria Group, Boeing, General Electric, Hearst Corp, Washington , D.C, Forbes Tate Partners, juggernaut Forbes Tate Partners, Forbes Tate, Association of Independent Mortgage Experts, United Wholesale Mortgage, SpaceX, Republican, YouTube, Biden, CNN Locations: San Francisco, Florida, Silicon, Trump, DeSantis, Puck, Washington ,, Ohio

☆ Dianne Feinstein once became confused after seeing Vice President Kamala Harris preside over the Senate, report says
▼ + stars: | 2023-05-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Sen. Feinstein was confused by VP Harris presiding over the Senate last year, per a New York Times report. Feinstein said, according to an unnamed individual who was present at the time. Feinstein, 89, asked of Harris, according to an unnamed individual who was present at the time. Upon her return, a New York Times report then disclosed that she also suffered from Ramsay Hunt Syndrome, a neurological disorder that in the senator's case was brought on by her bout with shingles. Rep. Ro Khanna, a fellow Bay Area lawmaker, in April called on Feinstein to resign from office, and reiterated his position this month.

☆ House Democrats reintroduce bill targeting stock buybacks
▼ + stars: | 2023-05-25 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — House Democrats on Thursday reintroduced a bill that would ban open-market stock buybacks, weeks after the Securities and Exchange Commission released stringent buyback disclosure rules. "Stock buybacks allow corporations to purchase shares of their own stock price at the expense of workers, consumers and the U.S. economy," Garcia said. U.S. corporate stock buybacks grew from a total of $950 billion in 2021 to over $1.25 trillion last year, SEC Chairman Gary Gensler said earlier this month. Last month, the board of Google parent Alphabet announced it had approved $70 billion in stock buybacks this year, matching its 2022 rate. "And banning the stock buybacks is a good place to start."

☆ The 3 main ways digital-health startups are competing for a slice of the $13 billion market for obesity care
▼ + stars: | 2023-05-24 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

Weight-loss drugs like Ozempic and Wegovy have surged in popularity. A Rock Health report lays out three main ways startups are competing for a slice of the market. As weight-loss drugs like Ozempic and Wegovy surge in popularity, digital-health startups are jumping in — offering everything from prescriptions to weight-management tools to compete for a slice of the $13 billion market. That's according to a new report by Rock Health, which lays out three main ways digital-health companies are vying to get in on obesity care. Rock Health said these platforms could be used in conjunction with weight-loss drugs to help track progress.

☆ Foo Fighters announce Josh Freese as new drummer after death of Taylor Hawkins
▼ + stars: | 2023-05-21 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —The Foo Fighters have found their new drummer after the sudden death of their longtime friend and drummer Taylor Hawkins. During the “Foo Fighters: Preparing Music for Concerts” livestream event that previewed the group’s 11th studio album, “But Here We Are,” on Sunday, the band introduced studio drummer Josh Freese as Hawkins’ successor. Freese is a veteran drummer and has played with Nine Inch Nails, The Offspring, Sting and Weezer, among many others. He also played with the Foo Fighters during a London tribute show for Hawkins in 2022, even playing on the late drummer’s very own drum kit. Kevin Mazur/Getty Images for The Rock and RoHawkins died in March of 2022 at 50 years old while on tour in Colombia.

☆ California Rep. Ro Khanna again calls on Dianne Feinstein to resign over health concerns: 'It's painful to watch.'
▼ + stars: | 2023-05-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Rep. Ro Khanna said it was "painfully obvious" that Sen. Feinstein should no longer serve in office. "I think they should have a loving conversation about it being time," Khanna said of Feinstein's confidantes. "First, let me say, I admire her career," Khanna told Wagner. Upon her return to the Senate, Feinstein appeared disoriented as an aide whisked her through the Capitol, according to The Times. "While she has had a lifetime of public service, it is obvious she can no longer fulfill her duties.

If Biden and McCarthy reach a deal, possibly as soon as Sunday, Congress could struggle to get enough votes for passage ahead of a June. Liberal Democrats, including Senator Raphael Warnock and Representative Ro Khanna, put Biden on notice that they do not support more stringent requirements to existing law. Republicans have called for saving $120 billion by expanding work requirements to qualify for food aid, monetary help for poor families and other assistance. Warnock accused Republicans of "using poor people as pawns" in negotiations, saying their proposal "presupposes that poor people are in some way morally deficient. The Republican-controlled House Ways and Means Committee describes the steps as "common-sense work requirements to help lift families out of poverty and revitalize the American workforce."

☆ Dianne Feinstein claimed she hasn't 'been gone' when asked about her lengthy absence from the Senate: 'No, I've been here. I've been voting'
▼ + stars: | 2023-05-16 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Sen. Feinstein insisted to reporters on Tuesday that she hasn't been absent from the Senate. I've been voting," she told LA Times' Ben Oreskes at the Capitol on Tuesday. The 89-year-old senator returned to Washington last week after a nearly 3-month-long absence. "No, I haven't been gone," she told the Times' Ben Oreskes on Tuesday when asked how her Senate colleagues have responded to her return. Feinstein then reportedly deflected a question about lawmakers calling for her to resign before an aide wheeled her away.

☆ OpenAI CEO wows lawmakers at closed dinner: 'Fantastic…forthcoming'
▼ + stars: | 2023-05-16 | by ( Lauren Feiner | ) www.cnbc.com time to read: +6 min

OpenAI CEO Sam Altman spoke to an engaged crowd of about 60 lawmakers at a dinner Monday about the advanced artificial technology his company produces and the challenges of regulating it. The wide-ranging discussion that lasted about two hours came ahead of Altman's first time testifying before Congress at a Senate Judiciary subcommittee on privacy and technology hearing on Tuesday. The dinner discussion comes at a peak moment for AI, which has thoroughly captured Congress' fascination. "There isn't any question where he pulls back on anything," she said, adding that lawmakers had very thoughtful things to ask. Khanna said the question of openness of the model is something he's discussed with Altman before, though not at Monday's dinner.

☆ Dianne Feinstein returns to the Senate following a nearly 3-month absence and calls for her resignation from fellow Democrats
▼ + stars: | 2023-05-10 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Sen. Dianne Feinstein returned to the US Senate on Wednesday. Several fellow Democrats called for her to resign, arguing her absence imperiled their party's agenda. The 89-year-old California Democrat returned this week after spending nearly 3 months away from Washington due to complications from a shingles infection. But her prolonged absence created a deadlock on the Senate Judiciary Committee, preventing Democrats from swiftly advancing nominees to the floor that lacked Republican support. Feinstein arrived at the Capitol just before 3pm on Wednesday and was greeted by Senate Majority Leader Chuck Schumer.

CNN —Democratic Sen. Dianne Feinstein of California, who has been away from the Senate since February while recovering from shingles, will return to Washington on Tuesday, according to a spokesperson. Feinstein sits on the Senate Judiciary Committee, and without her vote on the panel, Democrats said that they would have to delay some of President Biden’s key judicial nominees. In April, Democratic Rep. Ro Khanna of California became the first member of Congress to call on Feinstein to resign. In April, the California senator asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee, and he proposed that Maryland Sen. Ben Cardin take her spot. She needs to get well so she can get back to work,” Iowa Sen. Chuck Grassley, who is also 89, said.

☆ New York Times editorial board says Chuck Schumer should pressure Dianne Feinstein to 'return or resign'
▼ + stars: | 2023-05-05 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

The New York Times editorial board said that Chuck Schumer should pressure Dianne Feinstein to "return or resign." "If she cannot fulfill her obligations to the Senate and to her constituents, she should resign and turn over her responsibilities to an appointed successor," the board wrote. According to its website, the New York Times editorial board comprises opinion journalists "who rely on research, debate and individual expertise to reach a shared view of important issues." A group of women Democratic senators, however, told Insider that the calls for Feinstein to resign were sexist and "unprecedented." Noting this point, the New York Times editorial board agreed that in its history, the historically predominately male Senate has had several instances of its male members missing years of legislative session time due to illness.

This is an important moment not to cede leadership in any emerging technologies," Panchanathan said. The NSF is a federal agency that funds a big portion of science and engineering, including research at universities. TIP is the agency's first new directorate in more than 30 years and would help identify research, a lot of it already funded by the NSF, that can become technology products, he said. The directorate would help build up an ecosystem of academics, corporates, venture capitalists, and others to help researchers and startups get off the ground. Panchanathan and Khanna met nearly two dozen venture capitalists, startup CEOs, and some big tech firm executives in Santa Clara, California to discuss the CHIPS and Science Act.

☆ Photo of Chuck Schumer's notes show he's 'hopeful' Dianne Feinstein returns to the Senate next week
▼ + stars: | 2023-05-03 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Chuck Schumer and Dianne Feinstein are "hopeful" she'll return to the Senate next week, per a photograph of Schumer's notes. Feinstein hasn't voted in the Senate since mid-February, around the time of her shingles diagnosis. In her absence, Senate Democrats have faced difficulties confirming judges. With Feinstein absent from the Senate, Senate Republicans — along with Democratic Sen. Joe Manchin — voted 50-49 to roll back a Biden-era Environmental Protection Agency rule regarding pollution from trucks. Several prominent California Democrats have already declared to run for her seat, including Reps. Adam Schiff and Katie Porter.

☆ White House banking headache won’t end with First Republic deal
▼ + stars: | 2023-05-01 | by ( Stephen Collinson | ) edition.cnn.com time to read: +7 min

JPMorgan Chase is buying most assets of the troubled First Republic Bank and assuming all of its deposits in a deal announced Monday that was arranged by the US Federal Deposit Insurance Corporation. The independent agency’s new forced intervention is likely to fuel concerns about the overall health of the US banking sector. Biden’s new political headacheThe new concerns over the banking sector put the administration back in an unappealing position. Some progressive Democrats have balked at the idea that already mighty banks will get bigger by stepping in to snap up assets of troubled banks. On Sunday, he called for a shift in federal government policy to ensure all bank deposits.

☆ Hakeem Jeffries is enjoying an early honeymoon leading House Democrats. But one day, he'll have to make 'hard commitments.'
▼ + stars: | 2023-05-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +16 min

House Democrats say Hakeem Jeffries is a better listener and is more consensus-oriented than Pelosi. There's one big reason for it: House Democrats can't pass any of their own bills right now. Pelosi and Jeffries on the House floor after she announced she would step down from party leadership on November 17, 2022. 'He gets it'Jeffries, 52, has enjoyed a rapid ascent to the top of the Democratic caucus. "There were always very different views within the Democratic caucus on people who voted their district," said Slotkin.

☆ The insurance limit on your savings has become a hot global debate
▼ + stars: | 2023-04-28 | by ( Julia Horowitz | ) edition.cnn.com time to read: +8 min

The US Federal Deposit Insurance Corporation insures deposits up to $250,000 per person, per account, using a fund that banks pay into. “I don’t think that’s served us well.”Some argue the US deposit insurance limit should be 100 times higher. What is deposit insurance? Deposit insurance is aimed at calming fears, giving customers less reason to pull their cash out in a hurry. The debate over deposit insurance taps into bigger questions about the state’s role in private enterprise.

☆ Dianne Feinstein's ongoing absence allowed Senate Republicans and Joe Manchin to overturn a Biden rule reducing pollution from large trucks
▼ + stars: | 2023-04-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Senate Republicans and Sen. Joe Manchin voted to roll back an EPA regulation on truck pollution. Democratic Rep. Ro Khanna argued it wouldn't have passed had Sen. Dianne Feinstein been present. Senate Republicans and Democratic Sen. Joe Manchin took advantage of Democratic Sen. Dianne Feinstein's ongoing medical leave to roll back a significant environmental regulation on Wednesday. Democratic Rep. Ro Khanna argued in a tweet on Thursday that Feinstein's prolonged absence from the Senate has repeatedly blocked Democrats' ability to succeed in crucial votes, including the EPA rule vote. Supporters of the EPA rule say it's a reasonable and cost-efficient change that's well-worth the lives it's expected to improve and save.

☆ Paris Hilton joins lawmakers introducing a bill to end abuse in the 'troubled teen' industry: 'What I went through will haunt me for the rest of my life'
▼ + stars: | 2023-04-27 | by ( Kelsey Vlamis | Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Paris Hilton joined lawmakers Thursday to announce a bill aimed at the troubled teen industry. Hilton spoked about her personal experiences of abuse at residential treatment centers in her teens. "From the ages of 16 to 18, I was sent to four troubled teen industry facilities, each one more horrific than the last. The "troubled teen" industry refers to a range of residential treatment centers nationwide that are aimed at kids struggling with emotional or behavioral issues. Have a news tip or a story to share about residential treatment centers?

☆ Telling Dianne Feinstein to resign is sexist and 'unprecedented,' women Democratic senators say
▼ + stars: | 2023-04-19 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

But Democratic women in the Senate say gender is playing a role in how her absence is being handled. But women Democratic senators told Insider at the Capitol on Wednesday that they believe sexism is at play and that the chamber's longest-serving Democrat is being held to an unfair standard because she is a woman. More recently, Democratic Sen. John Fetterman of Pennsylvania was recently absent from the chamber for six weeks as he sought treatment for clinical depression. "I think it's important for Senator Feinstein to do what is what is best for her," said Democratic Sen. Jeanne Shaheen of New Hampshire. "I just believe that it's not somebody else's assessment to make; it's her assessment to make," said Democratic Sen. Tammy Baldwin of Wisconsin.

☆ Torch Capital's founder has some advice for startup founders: Down rounds aren't such a bad thing right now. Here's why.
▼ + stars: | 2023-04-17 | by ( April Joyner | ) www.businessinsider.com time to read: +3 min

Jonathan Keidan founded VC firm Torch Capital, which backed Ro and recently raised $200 million. Good founders will opt for down rounds over deal terms that could come back to bite, he says. As venture capital funding plummets and investors tighten their purse strings, Jonathan Keidan has a word of advice to startup founders: It's OK to take a down round. Most of the founders Torch has backed, Keidan said, are still steering clear of the relatively sluggish market. "You can roll up your sleeves and really help them, which has been critical in this environment," Keidan told Insider.

☆ Debt ceiling fight shows stakes of Feinstein's Senate absence, Klobuchar says
▼ + stars: | 2023-04-16 | by ( Katharine Jackson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 16 (Reuters) - The standoff over raising the U.S. federal government's $31.4 trillion debt ceiling illustrates the stakes of U.S. Senator Dianne Feinstein's lengthy absence from Washington, fellow Democratic Senator Amy Klobuchar said on Sunday. We have things like the debt ceiling coming up," Klobuchar said in an interview on ABC's "This Week" program. President Joe Biden's Democrats insist on a "clean" debt ceiling bill unaccompanied by cuts. "I have a lot of respect for Senator Feinstein, but she's missed 75% of votes this year.

☆ US Senator Feinstein will step down temporarily from Judiciary Committee
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

Senator Feinstein, recuperating from a bout of shingles and facing calls from fellow Democrats to resign, said on Wednesday her return to the Senate has been delayed and she would temporarily step down from the Judiciary Committee. “I intend to return as soon as possible once my medical team advises that it’s safe for me to travel," Feinstein said. She said "my absence could delay the important work of the Judiciary Committee" and has asked to step down until she is able to resume work. U.S. Senate Democratic Leader Chuck Schumer will grant Feinstein's request and ask the Senate next week to allow another Democratic senator to temporarily serve on the committee, a Schumer spokesperson said in a statement. Feinstein, who will not run when up for reelection in 2024, is currently the oldest serving U.S. senator.

☆ Sen. Feinstein requested to temporarily have someone replace her on the Judiciary Committee amid health concerns, but Republicans could prevent that from happening
▼ + stars: | 2023-04-13 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

Sen. Dianne Feinstein asked Senate Majority Leader Chuck Schumer to temporarily replace her on the Judiciary Committee. Without her in Washington, DC, Democrats have been unable to confirm as many Biden judges as preferred. Feinstein currently sits on the Senate Judiciary Committee, where Democrats hold 11 seats compared to the Republican Party's 10. Feinstein released a statement saying that she asked Schumer to have a Democrat temporarily replace her on the Judiciary Committee until her health concerns subside. If Republicans in the Senate prevent the committee change from happening, it could lead to even more pressure from Democrats for Feinstein to resign.

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