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☆ Yellen to step up campaign touting Biden's economic record
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden delivers remarks alongside Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo during a Cabinet Meeting at the White House on June 06, 2023 in Washington, DC. The Biden administration is dispatching U.S. Treasury Secretary Janet Yellen to Chicago and Milwaukee this week as part of a stepped-up domestic travel schedule to sell Americans on the benefits of President Joe Biden's economic policies. Yellen will make the case in remarks to the Economic Club of Chicago on Thursday that the pandemic recovery was faster, fairer and more transformative than previous economic recoveries, the Treasury said late on Sunday. Yellen has previously touted Biden's investment legislation, taking trips to North Carolina and Boston in recent weeks, but has avoided direct comparisons with former President Donald Trump. After her speech in Chicago, Yellen will travel to Milwaukee on Jan. 26 to visit a worker training facility, partly funded by Biden's $1.9 trillion COVID-19 relief law, the American Rescue Plan Act.

Persons: Joe Biden, Janet Yellen, Gina Raimondo, Biden, Joe Biden's, Yellen, Donald Trump, Trump, Nikki Haley Organizations: White House, U.S, Treasury, Economic, of Chicago, Trump, Trump Administration, United Nations, University of, Biden's, American Locations: Washington ,, Chicago, Milwaukee, North Carolina, Boston, New Hampshire

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ A Gen X woman bought a crumbling 1890s manor. She thought she'd be done restoring it a year into the project, but the work kept coming.
▼ + stars: | 2024-01-22 | by ( Amanda Goh | ) www.businessinsider.com time to read: +7 min

Read previewNear downtown Rensselaer, Indiana, stood a charming old house that Tabetha Heemstra fell in love with at first sight. The Queen Anne-style property was in disrepair, but even with paint peeling off its exterior, Heemstra could see its potential. She has to use different types of paint scrapers and even dental tools on some of the exterior details. Sometimes Heemstra even had to resort to using dental tools to scrape the old paint off. That would've meant that Heemstra completed the restoration project within a year of buying the home.

Persons: —, Tabetha Heemstra, Anne, Heemstra, George F, Barber, It's, that's, she'll, She's, I've Organizations: Service, Business, National Register of Historic Places, BI, McKinley Locations: Rensselaer , Indiana, McKinley, Rensselaer, Chicago, Indianapolis, Jasper

☆ Opinion: The return to office fallacy
▼ + stars: | 2024-01-22 | by ( Opinion Peter Bergen | ) edition.cnn.com time to read: +5 min

And yet, some corporate titans are still pushing for their employees to return to their offices. Working parents, in particular, benefit from not having to waste time, money and flexibility commuting to an office. A 2023 Bankrate survey found that 74% of working women with children are in favor of remote work, while 64% of all working Americans support it. I am writing this column in Washington, DC, but work with editors in New York, London or Atlanta. So why do some bosses still feel it necessary to prolong the slow and necessary death of The Office?

Persons: Peter Bergen, CNN —, Banks, Goldman Sachs, Morgan, Jamie Dimon, ” Organizations: New, Arizona State University, Apple, Spotify, CNN, Peter Bergen CNN, titans, JPMorgan Chase, Meta, Pew Research Center, University of Chicago Locations: New America, ”, Brooklyn, Manhattan, Chicago, Mexico City, San Francisco, Washington ,, New York, London, Atlanta

TINLEY PARK, Ill. (AP) — Four people were fatally shot in a community outside Chicago on Sunday in what suburban officials described as a “domestic-related shooting.”A suspect was taken into custody Sunday, according to a Tinley Park Public Safety Department social media post. The village of roughly 55,000 people is about 30 miles (50 kilometers) southwest of Chicago. Police officers were investigating at the scene of the shooting in a residential area Sunday afternoon, officials said. “The offender is in custody and scene is secure,” the statement said. “Due to ongoing investigation, we are asking residents to stay out of the area.”Further details were not immediately released.

Persons: “ Organizations: Public, Department, Chicago . Police Locations: TINLEY, Chicago

☆ Stuart Seldowitz gets plea deal in NYC hate crime case
▼ + stars: | 2024-01-20 | by ( Zoe Sottile | Artemis Moshtaghian | ) edition.cnn.com time to read: +4 min

CNN —A former National Security Council official has reached a plea deal on hate crime charges after going on racist, anti-Palestinian and Islamophobic rants against a food cart vendor in New York in November. Stuart Seldowitz, 64, pleaded not guilty in November to two counts of fourth-degree hate crime/stalking and one count of second-degree aggravated harassment, court records show. In another video, Seldowitz tells the vendor, “We’re going to put big signs here saying this guy believes in Hamas.”In another video, Seldowitz asks the man whether he’s familiar with Egypt’s General Intelligence Service, better known as the Mukhabarat. Mohamed Attia, of the Street Vendor Project, told CNN the vendor said he did not instigate the conversation with Seldowitz. His family’s landlord was charged in what police are calling a hate crime and has pleaded not guilty to charges including murder.

Persons: CNN —, Stuart Seldowitz, Seldowitz, ”, Afaf Nasher, We’re, “ Mukhabarat, ” Seldowitz, Barack Obama’s, hasn’t, Mohamed Attia Organizations: CNN, National Security Council, Manhattan, Attorney’s Office, Islamic Relations, CAIR’s, ” CNN, Egypt’s General Intelligence Service, National Security Council South, Directorate, Gotham Government Relations, New, CAIR Locations: New York, York, Egypt, New York City, Israel, Chicago, Vermont

☆ Someone Filled the Chicago Rat Hole. Residents Took Action.
▼ + stars: | 2024-01-19 | by ( Sopan Deb | ) www.nytimes.com time to read: +1 min

Where have you gone, Chicago rat hole? But Schopenhauer could not account for the elation with which residents of Chicago embraced an unlikely attraction this month: a hole in a sidewalk shaped like a rat. The rat hole was dead. Long live the rat hole. NBC Chicago reported that the hole, which for weeks had attracted amused gawkers to a quiet residential area of the Roscoe Village neighborhood, had been filled in with “what appeared to be plaster or concrete.”“Someone did this,” Jonathan Howell told NBC Chicago.

Persons: Arthur Schopenhauer, Schopenhauer, Long, gawkers, “, Jonathan Howell, Howell Organizations: NBC Chicago, NBC Locations: Chicago, German, Roscoe, Illinois

☆ NASA's James Webb Space Telescope broke its own record to discover the oldest black hole yet, but it has astronomers even more confused about the beginning of the universe
▼ + stars: | 2024-01-17 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

Read previewThe James Webb Space Telescope has discovered the oldest black hole ever detected, breaking its own record. It's about 40 million years older than the record-breaking black hole Webb also discovered and announced in November. AdvertisementA cosmic clue in this black hole's outsized appetiteA disk of hot gas swirls around a feeding black hole in this illustration. AdvertisementPeering at the early universe with Webb "is like upgrading from Galileo's telescope to a modern telescope overnight," Maiolino said. He added that his team hopes to search for smaller "seeds" of black holes with future Webb observing time.

Persons: —, James Webb, Webb, Nick Risinger, JWST, Chandra, Daniel Holz, Roberto Maiolino, Maiolino Organizations: Service, Business, ESA, Hubble, Sky Survey, NASA, CSA, University of Chicago, New York Times, University of Cambridge, JPL, Caltech

☆ Why this newlywed couple plans to get a postnup: We don't want 'some random judge' making money decisions for us
▼ + stars: | 2024-01-17 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

Similar to prenuptial agreements, a postnup outlines which partner maintains ownership over which assets in the event of a divorce. The main difference is that with a postnup, you're already married when you get it, which has a couple of important implications. Any assets acquired since the wedding, and even some acquired as an individual, such as retirement accounts, become "marital property" once you're married. The couple had a "misconception" that prenup and postnup agreements are for couples with vastly different net worths, Bhaloo says. We don't want to leave that up to the government — we don't want some random judge making that decision for us."

Persons: Jenna Bhaloo, Neil Desai, they're, Desai, Bhaloo, it's Organizations: Boston University Locations: Cambridge , Massachusetts, Durham , North Carolina, Chicago

Here are the results of a survey of about 2,000 registered voters eligible to vote in the Republican caucus, compiled by the Associated Press, which offer a look at voting patterns and trends. The numbers are based on interviews with survey respondents who said they voted or intended to vote. Numbers will continue to update as more responses are added and the survey’s weighting adjusts. Source: AP VoteCast conducted by NORC at the University of Chicago for the Associated Press, Fox News and The Wall Street Journal

Persons: NORC Organizations: Republican, Associated Press, University of Chicago, Fox News, Street

☆ ‘Beef’ and ‘The Bear’ have gotten awards season love, and that says lot about us
▼ + stars: | 2024-01-16 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Netflix’s “Beef” and FX/Hulu’s “The Bear” are enjoying the kind of awards season hot streak that so many shows wish they could cook up. The way their feud unfolds in the 10 proceeding episodes highlights the inequity that is introduced in that scene. Steven Yeun and Ali Wong star in "Beef." Chuck Hodes/FXBoth shows are critically acclaimed and have have been sweeping award shows this season, most recently winning multiple Emmy Awards, and it’s not hard to see why. In the talented and diverse ensemble casts, the perfect vehicles to further explore the deep issues at the center.

Persons: Ali Wong, Steven Yeun, Wong’s Amy, Danny, ”, Jeremy Allen White, that’s, Allen’s, Edwin Lee Gibson, Lionel Boyce, Marcus, Liza Colón, Zayas, Tina, Ebon Moss, Bachrach, Richard, Richie, Jerimovich, Matty Matheson, Neil Fak, Chuck Hodes Organizations: CNN, Benz, Netflix, ” Locations: Tacoma, Chicagoland

☆ What we can expect from season 3 of 'The Bear'
▼ + stars: | 2024-01-15 | by ( Olivia Singh | ) www.businessinsider.com time to read: +4 min

FX's "The Bear," starring Jeremy Allen White and Ayo Edebiri, got renewed for a third season. AdvertisementJeremy Allen White is returning to the kitchen for season three of "The Bear." AdvertisementAccording to White, season 3 will return to the 'functioning kitchen atmosphere'Jeremy Allen White as Carmy on season two of "The Bear." Season 3 is set for release sometime in 2024Jeremy Allen White on season two of "The Bear." AdvertisementConsidering how quickly the show is filmed, fans can expect season three to be on track for release later this year.

Persons: Jeremy Allen White, Edebiri, White, —, Carmen, Ayo Edebiri, Ebon Moss, Bachrach, Richie, it's, Abby Elliott, Natalie, Lionel Boyce, Marcus, Liza Colón, Zayas, Tina, Edwin Lee Gibson, Matty Matheson, Neil Fak, Jon Bernthal's, Michael Berzatto, there's, Carmy, Claire, Jeremy, . White Organizations: Service, Hulu, Sydney Adamu, Variety, Globes, Entertainment Locations: Chicagoland, Sydney

☆ Davos: A mountain of debt and a wave of elections. World leaders are hamstrung
▼ + stars: | 2024-01-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —World leaders are flocking to Davos this week to pontificate on the planet’s most pressing problems. Even in the absence of a new crisis, soaring debt servicing costs will constrain efforts to tackle climate change and care for aging populations. Mortgage rates and other borrowing costs soared as investors demanded much higher premiums for owning UK debt. Mounting debt and political brinksmanship have already taken their toll on America’s credit rating, which typically affects borrowing costs for the government, businesses and households. And that would increase the government’s borrowing costs.

Persons: worryingly, Michael Saunders, ”, Saunders, that’s, Liz Truss, Dave Ramsden, Fitch, Moody’s, Raghuram Rajan, “ It’s, ” Rajan, Anna Cooban Organizations: London CNN —, Bank, CNN, Oxford Economics, Bank of England, AAA, States ’, Reserve Bank of India, Labour Party, Treasury Department, Federal, University of Chicago Booth School of Business Locations: Davos, Kingdom, Argentina, States, United States, Switzerland

☆ 2 boomers from Chicago who bought homes in Florida share why they're retiring in the Sunshine State — and what they miss about Illinois
▼ + stars: | 2024-01-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Two boomers who are moving to Florida for retirement say the state meets their retirement goals. The Illinois to Florida move in particular was one of the largest US migration patterns between 2021 and 2022. Daniel Mehalek, 61Daniel Mehalek, 61, lived in the Chicago area his whole life. Compared to Chicago, he's paying more on flood, homeowner's, and car insurance in Florida, though it's offset by the over $15,000 in Illinois state taxes he won't have to pay when he relocates. "Insurance is a challenge right now, but I still feel like that's a better situation overall than being in Illinois and paying the property and state taxes," Ron said.

Persons: boomer, —, It's, hasn't, Daniel Mehalek, He's, Mehalek, I'm, Florida hasn't, Ron, he's Organizations: Service, Sunshine State, Business, Chicago, Fortune, Boeing, Citadel, Caterpillar, Illinois, Sarasota Locations: Florida, New York , California , New Jersey, Georgia, Illinois, The Illinois, Georgia , Texas, North Carolina, Chicago, Burr, California, Bonita Springs, Naples —, Wisconsin, Sarasota, New Jersey, Tampa Bay

☆ Chicago’s Latest Attraction? A Rat-Shaped Hole.
▼ + stars: | 2024-01-13 | by ( Emily Schmall | ) www.nytimes.com time to read: 1 min

Winslow Dumaine was heading to a store on Chicago’s North Side when he saw it: a hole in the sidewalk on Roscoe Street with an uncanny resemblance to a rodent. Mr. Dumaine, who is an artist and comedian, said the hole represented two themes often present in his work: morbidity and whimsy. “Had to make a pilgrimage to the Chicago Rat Hole,” he wrote in a social media post this month, including a close-up photo of the concrete cutout. The post, which has since been viewed five million times, inspired an untold number of Chicagoans to make their own excursions to a quiet residential area of Roscoe Village, a neighborhood known for its cozy taverns, independent boutiques and old-fashioned bakeries.

Persons: Winslow Dumaine, Dumaine, “, ” Locations: Roscoe

☆ Flight cancellations pile up as winter storm, 737 Max 9 grounding disrupt travel
▼ + stars: | 2024-01-12 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +2 min

Airlines canceled more than 3,000 U.S. flights Friday as they grappled with winter weather and the grounding of Boeing 737 Max 9 planes. United canceled about 10% of its mainline flights and delayed about 30%. That grounding has continued to disrupt travel for United and Alaska Airlines, the only U.S. airlines operating the aircraft. Alaska said that between 110 and 150 flights per day would be impacted by the grounding of the Max 9. United Airlines said it canceled flights scheduled to use a Max 9 through Tuesday.

Persons: Max Organizations: Airlines, Boeing, Max, Midwest, U.S, United Airlines, American Airlines, Detroit Metropolitan Wayne County Airport, Delta Air Lines, Southwest Airlines, Chicago Midway, United, Federal Aviation Administration, Alaska Airlines, FAA Locations: U.S, Chicago, Detroit, United, Alaska

☆ Robert Andrew Parker, 96, Dies; Prolific Magazine and Book Illustrator
▼ + stars: | 2024-01-12 | by ( Richard Sandomir | More About Richard Sandomir | ) www.nytimes.com time to read: +2 min

“There was a casualness in his attitude toward his work,” said Joe Ciardiello, an illustrator who was a friend of Mr. Parker’s. “So many artists can get so fussy about the correct kind of paper or the proper pen or paints. But Bob would use whatever he had — people would give him paint, he’d use cheap stuff, expensive stuff. The original plan was for Mr. Parker’s and Mr. Douglas’s hands to alternate onscreen, where they would appear to be creating van Gogh’s paintings. But they worked on only one, “Wheatfield With Crows,” before Mr. Parker’s job became copying about 100 of van Gogh’s drawings and paintings to use in the film.

Persons: ”, Joe Ciardiello, Mr, Parker’s, Bob, ” Robert Andrew Parker, William, Harriett, Cowdin, Parker, Kirk Douglas, Vincent van Gogh, van Organizations: U.S . Public Health Service, Army Air Corps, Art Institute of Chicago, Metropolitan Museum of Art, New York School, Skowhegan, of Painting, MGM Locations: Norfolk, Va, Michigan, Fort Stanton, N.M, New York City, Paris, France

☆ Inflation is down sharply, but getting to exactly 2% will be tough
▼ + stars: | 2024-01-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures price index, measured 2.6% annually in November. So, getting that number down to the Fed’s 2% target should happen in no time, right? That’s because much of the run-up in inflation came from pandemic-induced supply chain disruptions and unusual spikes in demand. The reason is that as inflation cools more, the remaining components that work to keep inflation above the Fed’s target are increasingly “sticky,” meaning they’re the least responsive to changes in market conditions. And it’s so far, so good.”That said, though it’s not the Fed’s go-to inflation gauge, Thursday’s CPI report showed that the road to 2% could come with more bumps.

Persons: ”, John Cochrane, Jerome Powell, Gregory Daco, That’s, Powell, Cochrane, “, ” Paul Donovan, ” Powell, I’d, it’s Organizations: New, New York CNN, Hoover Institute, “, University of Chicago, CNN, UBS Global Wealth Management Locations: New York, EY

☆ Microsoft’s Satya Nadella is CNN Business’ CEO of the Year
▼ + stars: | 2023-12-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +10 min

New York CNN —It was the year of artificial intelligence, and no Big Tech company leaned into the trend like Microsoft. That’s why CNN Business’ staff chose Nadella as the CEO of the Year, beating out other contenders including Chase CEO Jamie Dimon, OpenAI CEO Sam Altman and Nvidia CEO Jensen Huang. “There’s no question 2023 was the year of AI,” Nadella told CNN in an emailed response. OpenAI CEO Sam Altman and Nadella shared the stage at OpenAI’s first developer conference to discuss their partnership. Nadella told CNN he indeed remains “focused” on empowering both people and organizations to achieve more, as it continues to make and deploy new products.

Persons: Satya Nadella, Nadella, Jamie Dimon, Sam Altman, Jensen Huang, “, ” Nadella, Pfizer’s Albert Bourla, Taylor Swift, Gil Luria, DA Davidson, ”, OpenAI —, Justin Sullivan, OpenAI’s Altman, Altman, “ It’s, OpenAI, ” OpenAI, ” Luria, Greg Brockman, Luria, Fred Havemeyer, “ Mr, Brad Barket, Stuart Carlaw, Nadella’s, he’s, ” Carlaw, hasn’t, ” Takeshi Numoto, — CNN’s Allison Morrow Organizations: New, New York CNN, Big Tech, Windows, CNN Business ’, Chase, Nvidia, CNN, Fortune, Microsoft, Ivy League, University of Wisconsin -, University of Chicago Booth School of Business, ChatGPT, Google, Macquarie, ABI Research Locations: New York, Silicon Valley, Seattle , Washington, Valley, India, University of Wisconsin - Milwaukee, Instacart, OpenAI

☆ Big Tech has long avoided responsibility for online content. Generative AI could end that.
▼ + stars: | 2023-12-18 | by ( Kali Hays | ) www.businessinsider.com time to read: +8 min

For decades, Big Tech companies have avoided responsibility for anything posted on their platforms. Generative AI is about to end this prized legal protection. Meta, Google, Microsoft, Amazon and even Apple have spent the last year rushing to roll out generative AI tools and models to compete with OpenAI. Generative AI models and tools, however, are developed, owned and operated by Big Tech companies. Otherwise, by creating generative AI tools and providing the outputs, Chander sees few ways a tech company will be able to refute its role in generative AI content.

Persons: Meta, Bard, Mark Zuckerberg, what's, Aziz Huq, Anupam Chander, Chander, Huq, they've, Jason Schultz, It's, Schultz, " Shultz, Kali Hays Organizations: Big Tech, Google, Microsoft, Apple, Facebook, Business, Meta, University of Chicago's Law School, Georgetown Law, Institute, Rebooting Social Media, Harvard University, NYU Law, Technology Law, Policy Clinic, Twitter Locations: khays@insider.com, @hayskali

☆ 10 industry leaders transforming business in 2023
▼ + stars: | 2023-12-11 | by ( ) www.businessinsider.com time to read: +20 min

In 2023, Business Insider's annual list of People Transforming Business highlights key players across the advertising, ESG, finance, AI, and labor sectors. Increasingly, they're turning to more opaque private credit markets to borrow money. The world of private credit sits outside the traditional banking system. Analysts expect the private credit market to balloon in size — likely keeping lawyers like Breen very busy. Muthukrishnan is trying to make sense of how risky these private credit loans are by overseeing what is so far the most comprehensive look at vulnerabilities in the industry.

Persons: Mira Murati, who's, Vince Toye, Eileen Fisher, Eileen Fisher Fisher, Guerin Blask, Eileen Fisher Eileen Fisher, she's, Fisher, Janelle Jones, Jones, Lexey, —, She's, Justin Breen, Proskauer Breen, Proskauer Justin Breen, he's, Breen, Ares Capital, He's, McLaren, Julie Su, Labor Julie Su, Department of Labor Julie Su, Su, Marty Walsh, Murati, Jim Wilson, Neal Mohan, YouTube Mohan, Katie Thompson, YouTube It's, YouTube isn't, Mohan, Muthukrishnan, Satya Nadella, Microsoft Satya Nadella, Ben Kriemann, Nadella, Steve Ballmer, Mathias Döpfner, Axel Springer, Tim Cook, Apple Cook, Justin Sullivan, Cook, Steve Jobs, Jobs, JPMorgan Chase Toye, JPMorgan Chase, Toye, they'll, Vince Toye's, Bella Sayegh, Rebecca Ungarino, Lara O'Reilly, Juliana Kaplan, Alex Nicoll, Tim Paradis, Stephanie Hallett, Michelle Abrego, Josée Rose, Ryan Joe, Emily Canal, Kaja Whitehouse, Alyssa Powell, Davis, Jonann Brady Organizations: JPMorgan, Service Employees International, SEIU, New York, Ford, Service Employees International Union, United Auto Workers Union, Spelman College, US Department of Labor, Economic Policy Institute, Center for Economic, Research, Department of Labor, The New York Times, Ares, Churchill Asset Management, European, Atlético Madrid, Labor, Labor Department, MacArthur Foundation, New York Times, Dartmouth, OpenAI, Associated Press, YouTube, NFL, DirecTV, Federal, Microsoft, Manipal Institute of Technology, University of Wisconsin -, University of Chicago, Apple, Apple Watch, Google, Time, JPMorgan Chase, National Housing Trust, Trenton Almgren Locations: McDonald's, Lorain , Ohio, Atlanta, California, Los Angeles, Albania, Canada, Muthukrishnan, Hyderabad, India, University of Wisconsin - Milwaukee, OpenAI, Virginia, Wells Fargo, Trenton

☆ US Supreme Court to scrutinize controversial opioid crisis settlement that would give Sackler family immunity
▼ + stars: | 2023-12-04 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Barring individual victims from pursuing their own lawsuits against the Sackler family “raises serious constitutional questions,” the department argued. OxyContin’s commercial success helped the Sackler family earn billions of dollars and the family became known for philanthropy around the world. As the country’s opioid crisis worsened, attention shifted to the role played by Purdue Pharma and the Sackler family. Many of the suits allege that the Sackler family knew of OxyContin’s addictive properties but, nevertheless, continued to promote the drug. The Supreme Court hearing comes at a time of devastating losses due to drug overdoses in the US.

Persons: Los Angeles CNN —, Sackler, Mortimer, Raymond Sackler, “, George Frey, Elizabeth Prelogar, ” Anthony Casey, , –, Purdue Frederick, ” Lindsey Simon, ” Organizations: Los Angeles CNN, Purdue, New, US, US Justice Department, Purdue Pharma, Supreme, Knoa Pharma, Purdue Pharma L.P, Bloomberg, Sackler, ”, University of Chicago, school’s, Law, Finance, Guggenheim, Centers for Disease Control, “, Emory University Locations: New York, Purdue, Provo , Utah, U.S, United States, Paris

☆ At Core of Purdue Pharma Case: Who Can Get Immunity in Settlements?
▼ + stars: | 2023-12-03 | by ( Abbie Vansickle | More About Abbie Vansickle | ) www.nytimes.com time to read: +1 min

For years, Purdue Pharma, the maker of the prescription painkiller OxyContin, had been entangled in lawsuits seeking to hold it to account for its role in the spiraling opioid crisis. A pathbreaking settlement reached last year appeared to signal the end to thousands of those cases, funneling billions of dollars toward fighting the epidemic in exchange for exempting members of the billionaire Sackler family, which once controlled the company, from civil lawsuits. But on Monday, the Supreme Court will hear arguments over whether the agreement is a violation of federal law in a case that could have ramifications not just for Purdue but also for organizations that turn to bankruptcy court, as the company did, to resolve claims of mass injury. “There’s huge implications for all of corporate bankruptcy,” said Anthony J. Casey, a law professor at the University of Chicago. “I think this is probably the most important bankruptcy case before the court in 30, maybe 40 years.”

Persons: Sackler, “, ”, Anthony J, Casey Organizations: Purdue Pharma, Purdue, University of Chicago

☆ Beyoncé ’s platinum ‘Renaissance’ look was triggering for some in the Black community. Here is why.
▼ + stars: | 2023-12-02 | by ( Nicquel Terry Ellis Cnn | ) edition.cnn.com time to read: +7 min

“Her music is unapologetically, boundlessly and globally Black,” Thomas said. In many cases, lighter skinned slaves were the product of sexual violence by White men against enslaved Black women. Lighter skinned Black women were often deemed “redbones,” a term that for some undermined their Black heritage by implying that the women were mixed non-Black ancestry. A 2023 survey by nonprofit Catalyst found women with darker skin tones were more likely to experience workplace racism than women with lighter skin. “I also get to be critical of Beyoncé,” Thomas said.

Persons: Queen Bey, “, Tina Knowles, ” Knowles, “ Brown, Geneva Thomas, ” Thomas, ”, JeffriAnne Wilder, Wilder, White, ” Wilder, Beyoncé, India Arie, ” Arie, Arie, ” Beyoncé, Kevin Mazur, Oscar, Octavia Spencer, Thomas, she’s Organizations: CNN, Los Angeles, Catalyst, University of Chicago Press, Tottenham Hotspur Stadium Locations: America, New York, Black America, London, England

☆ The Undoing of George Santos
▼ + stars: | 2023-12-01 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com time to read: +2 min

It may get prosecutors excited, but the general public finds it boring. They make the narrative of wrongdoing personal, because one thing almost everyone can relate to is luxury goods. There’s a reason even Richard Nixon boasted in a 1952 speech that his wife, Pat, didn’t “have a mink coat. In this, as in so many things, the former president appears to be an exception to the rule.) “The notion of elected officials being public servants may be a polite fiction, but it is a polite fiction we expect politicians to maintain,” Mr. Blake said.

Persons: —, Richard Nixon, Pat, didn’t, Wilentz, Mr, Blake, David Axelrod, ” Organizations: Democratic, Institute of Politics, University of Chicago Locations: America, Washington, ”

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