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☆ SVB's former parent may need new funding after $2 billion cash seizure
▼ + stars: | 2023-04-26 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Silicon Valley Bank's former owner may need to take out a bankruptcy loan amid uncertainty about the U.S. Federal Deposit Insurance Company's seizure of $2 billion in cash from the company, its attorney said Wednesday. The FDIC has also not fully explained why the cash was seized, Bromley said. FDIC's attorney, Derek Baker, told Glenn that SVB Financial's bank accounts were properly seized as part of FDIC's takeover of the failed bank. Glenn said he needed more information about the FDIC's authority to seize cash and how disputes related to the seizure should be resolved. SVB Financial is also still waiting for the full return of financial records that were seized as part of the bank takeover.

☆ How to Prevent the Next Intelligence Leak - The New York Times
▼ + stars: | 2023-04-24 | by ( Glenn S. Gerstell | ) www.nytimes.com time to read: +4 min

When inside leaks occur, the typical and understandable response of the intelligence and military communities is to cut back on access in some way. Fortunately, both the government and the private sector have potential solutions in hand. This might be even more essential in the case of recruits for the military and intelligence agencies coming from Generation Z. The government could emulate the private sector, picking out the most effective solutions — perhaps installing paper-thin R.F.I.D. The government has been slow to adopt robust private sector techniques because they are costly and time-consuming to implement, and Congress demands quick fixes.

☆ Marjorie Taylor Greene compared Trump to Nelson Mandela and Jesus Christ in an interview with her new boyfriend
▼ + stars: | 2023-04-04 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

MTG compared Trump to Jesus Christ and Nelson Mandela in an interview with Brian Glenn on Tuesday. Greene said Trump "is joining some of the most incredible people in history being arrested today." She headlined a pro-Trump rally in Manhattan but only spoke briefly and left after 20 minutes. "Nelson Mandela was arrested, served time in prison," she added. The Georgia firebrand was the headliner at the Trump rally held outside the Manhattan criminal courthouse where Trump is set to be arraigned.

California banking regulators on March 10 closed Silicon Valley Bank in the largest U.S. bank failure since the 2008 financial crisis. Kurt Gwynne, an attorney for the FDIC as receiver for Silicon Valley Bank, disputed at Tuesday's hearing that regulators had done anything improper. Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken March 13, 2023. Glenn said he was prepared to allow SVB Financial to use up to $100 million for investment activity. Silicon Valley Bank was SVB Financial's largest asset, accounting for more than $15.5 billion of SVB Financial's $19.7 billion in total assets.

☆ Some Goldman Sachs partners want to tell the board about their concerns over CEO David Solomon
▼ + stars: | 2023-02-08 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

A decline in morale at the Wall Street firm concerns some Goldman partners. Here are their concerns about CEO David Solomon, who addressed the partners in Miami. CEO David Solomon addressed Goldman Sachs' partners today at the firm's annual partners meeting in Miami. There's little history for Goldman partners taking their concerns directly to the board. Since then, according to someone who has spoken to investors, more shareholders have questioned how long Solomon can last as Goldman's CEO.

☆ 39 more Regal theaters are closing in the US amid bankruptcy. See the full list.
▼ + stars: | 2023-01-19 | by ( Travis Clark | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Over three dozen Regal Cinemas locations in the US are expected to close. Cineworld detailed the plan to reject the leases starting February 15 in a new bankruptcy filing on Tuesday. Regal is the second-largest cinema chain in the US, behind AMC, with over 500 theaters. The company's plan to close locations during its bankruptcy is fairly routine. Cineworld filed for bankruptcy at a time when the larger theatrical industry is struggling to fully rebound from the pandemic.

☆ Supreme Court allows New York gun law to remain in effect
▼ + stars: | 2023-01-11 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

Supporters of gun control and firearm safety measures hold a protest rally outside the US Supreme Court as the Court hears oral arguments in State Rifle and Pistol v. City of New York, NY, in Washington, DC, December 2, 2019. WASHINGTON — The Supreme Court on Wednesday allowed a New York gun control law that was enacted in the wake of the high court's landmark ruling in June that dramatically expanded the right to bear arms outside the home to remain in effect while a legal challenge against it continues. The challenge was brought by Ivan Antonyuk and five other individuals who say they would like to carry firearms outside the home. Various gun owners have challenged provisions of the law, with three federal district courts ruling in favor of plaintiffs In each case, the New York-based 2nd U.S. Circuit Court of Appeals allowed the law to remain in place in full pending appeals.

NEW YORK, Jan 11 (Reuters) - The U.S. Supreme Court on Wednesday allowed New York to enforce a Democratic-backed gun control law adopted after the justices last year struck down the state's limits on carrying concealed handguns outside the home in a landmark ruling that expanded gun rights. Circuit Court of Appeals in December put that decision on hold while the state pursues an appeal. Wednesday's action may not be the last time the Supreme Court addresses New York's new gun law. New York state Attorney General Letitia James, a Democrat, praised the court's decision to keep the law in effect. Democratic Governor Kathy Hochul signed into law the Concealed Carry Improvement Act on July 1, a week after the Supreme Court's landmark ruling against a New York concealed carry permit restriction.

☆ A Texas superintendent ordered school librarians to remove LGBTQ books. Now the federal government is investigating.
▼ + stars: | 2022-12-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Mike Hixenbaugh | ) www.nbcnews.com time to read: +11 min

The U.S. Education Department’s civil rights enforcement arm has launched an investigation into a North Texas school district whose superintendent was secretly recorded ordering librarians to remove LGBTQ-themed library books. The comments, combined with the district’s subsequent decision to remove dozens of library books pending a review, fostered a “pervasively hostile” environment for LGBTQ students, the ACLU wrote in its complaint. Last year, voters in Granbury elected a pair of school board members who campaigned against LGBTQ-affirming school curricula and library books. “These comments, combined with the book removals, really send a message to LGBTQ students in the districts that: ‘You don’t belong here. Lou Whiting, a student at Granbury High School, becomes emotional after speaking against the removal of LGBTQ books at a Granbury school board meeting in March.

☆ Organized retail crime has ballooned into a $100 billion problem — and store employees are dying over it
▼ + stars: | 2022-12-18 | by ( Avery Hartmans | Ben Tobin | ) www.businessinsider.com time to read: +9 min

Organized retail crime increased by 26.5% in 2021, according to the National Retail Federation. It's organized retail crime, and it's a nearly $100 billion problem for the industry. A 2022 study the National Retail Federation conducted found that organized retail crime at retailers surged by 26.5% in 2021 compared to the year prior. Organized retail crime is not the $10,000 jewelry heist you see in the movies, Jake Stauch, the director of product for the security company Verkada, said. The rise of e-commerce has, in large part, fueled organized retail crime.

Just because rural areas are less populated doesn’t mean it’s cheaper to provide health services there. She recommends that rural counties explore lower-cost, evidence-based options like distributing naloxone, funding syringe service programs, or connecting people to housing or employment. “We couldn’t function if we didn’t partner for lots of different services.”In Colorado, pooling funds is built into the state’s model for managing opioid settlement money. “Nobody has paid any attention to our rural areas and this problem for years,” Laske said. They cross-referenced the results with a list of allowable uses for the $9 million in settlement funds they’ll receive over 18 years to create a priority grid.

If Celsius deposits are determined to belong to customers, users are far more likely to get their assets returned. Crypto companies typically offer a variety of accounts and they will likely be treated differently in bankruptcy. BlockFi, which is at the beginning of its own bankruptcy case, also offers both interest-bearing and custody accounts. 'WORSE THAN BANKS'Courts will also have to look beyond the user agreements and examine how crypto companies actually handled the deposits, according to bankruptcy specialists. “This is going to have enormous influence on crypto companies and crypto customer behavior."

☆ Bankrupt crypto lender Celsius gets the go-ahead to hand out $2.8 million in bonuses to keep employees from quitting
▼ + stars: | 2022-12-06 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Celsius has secured court approval to hand out up to $2.8 million in employee bonuses, per Bloomberg. The payments are meant to keep staff at the crypto lender from quitting as it works to exit bankruptcy. Celsius has also asked the court to let it sell $18 million of user-deposited crypto to pay its bills. The bonuses will be paid to rank-and-file employees to keep operations running while Celsius works on exiting bankruptcy. The crypto lender is due to file a restructuring plan by February 15.

NEW YORK, Nov 7 (Reuters) - A federal judge in New York temporarily suspended many parts of the state's new gun restrictions on Monday to allow members of a gun-owners' rights group to continue their lawsuit challenging the new law as unconstitutional. Judge Glenn Suddaby of the U.S. District Court in Syracuse agreed to issue the order at the request of six New York residents who are members of Gun Owners of America, which competes with the National Rifle Association in political influence. In his order, he said New York officials could not compel people applying for a gun license to disclose a list of everyone they live with or the handles of their social media accounts, major provisions of the Concealed Carry Improvement Act which took effect on Sept. 1. He also sharply pared back New York's new list of "sensitive places" where it is a new felony crime to possess a gun even with a license, writing that the state could not ban guns in theaters, bars, parks, airports and other public places. Reporting by Jonathan Allen; Editing by Leslie Adler and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ Fanatics hires its first chief people officer as Michael Rubin's sports business giant expands
▼ + stars: | 2022-10-27 | by ( Riley De León | ) www.cnbc.com time to read: +2 min

Ashford will report directly to both CEO Michael Rubin and CFO Glenn Schiffman. Each of the three Fanatics' businesses — commerce, collectibles, betting & gaming — have heads of HR that report to those respective business CEOs. Prior to joining Fanatics, Ashford was a strategic advisor to private-equity firm Sycamore Partners. He's currently the chairman of the board of pharmaceutical company Perrigo , and sits on the board of Syndio — a private, venture-backed HR tech company. Last week, Fanatics announced it hired Andrea Ellis to be the chief financial officer of its betting and gaming division, which is expected to launch in January.

☆ Ruth Glenn Survived Domestic Abuse. Now She Leads the Fight Against It.
▼ + stars: | 2022-10-21 | by ( Emily Bobrow | ) www.wsj.com time to read: +1 min

When Ruth Glenn first began working as an advocate for domestic-abuse victims and survivors in the early 1990s, she found that most people were too embarrassed to talk publicly about their experiences with abuse. Ms. Glenn saw there was a need to bring more of these stories out into the open, including her own. “We cannot do anything to address the prevalence of the problem without including the voices of survivors,” she says from the Denver offices of the National Coalition Against Domestic Violence (NCADV), the nonprofit she leads as CEO and president. That’s why she has spent decades traveling the country to tell the story she recounts at greater length in her new memoir, “Everything I Never Dreamed,” published in October to coincide with Domestic Violence Awareness Month. The book describes in harrowing detail how her husband abused her physically and emotionally, ultimately shooting her before killing himself in 1992.

☆ Novavax says COVID booster dose shows benefit against Omicron variants
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Novavax Inc (NVAX.O) said on Wednesday data from studies in adults and adolescents showed that the booster dose of its COVID vaccine produced robust antibodies against several Omicron variants, including BA.1, BA.2 and BA.5. The data was from two studies - a late-stage study evaluating the booster in adults and adolescents who had received Novavax primary vaccination and another study testing it in those aged 18 to 49 who had received primary series of Novavax vaccine or other authorized or approved vaccines. In the late-stage study, a single homologous booster dose significantly increased antibody levels against these variants relative to pre-boost levels, the company said. "These data are an early indication that our vaccine may be effective against variants such as Omicron," Novavax executive Gregory M. Glenn said. The company said ongoing trials are studying the efficacy of the vaccine against variants including BA.4 and BA.5.

NEW YORK, Oct 12 (Reuters) - New York's new gun law will remain in effect for now after a federal appeals court on Wednesday agreed to temporarily reverse a lower court's order blocking the law's central provisions while a legal challenge by a gun-owners' rights group proceeds. The state's overhauled gun law took effect on Sept. 1 and is being closely watched by other states around a country in which gun violence has become recurrent. The appeals court's three-judge panel will later rule on whether to restore Suddaby's temporary restraining order. Suddaby, meanwhile, will hear arguments later this month on whether to grant a preliminary injunction that will again block central provisions of the new law while the litigation proceeds. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jonathan Allen; editing by Jonathan Oatis and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Why some kids love horror -- and why it's nothing to worry about
▼ + stars: | 2022-10-09 | by ( Scottie Andrew | ) edition.cnn.com time to read: +9 min

Kayla Lopez’s kids, meanwhile, just need to pull on their Michael Myers masks to feel invincible. “I don’t really know of anybody that likes horror as much as them, honestly,” she said. Adorable kids and horror paraphernalia seem like an incongruous pairing. There’s no doubt we’re interested in that.”The Lopez kids have what Farley calls “type-T personalities” – the “T” stands for thrill-seeking. They’ve learned to filter themselves around their pals so as not to scare the other kids and save it for when they’re home, where their horror habits aren’t questioned.

We took over four school boards.”“Eleven seats on school boards, took over four!” Bannon shouted as a crowd of CPAC attendees erupted in applause. In the neighboring city of Southlake, Patriot Mobile donated framed posters that read “In God We Trust” to the Carroll Independent School District during a special presentation before the school board. Nearly 200 people signed up to speak during public comments before the board vote at the school board meeting in Grapevine, Texas. Patriot Mobile paid Vanguard Field Strategies nearly $150,000 to run get-out-the-vote canvassing operations across the four school districts, according to financial disclosures. “This is the most extreme board policy that we have seen related to classroom censorship,” Huddleston said.

Have a blend of permanent and term life insuranceThere are two types of life insurance: permanent life and term life. She recommends blending permanent and term life insurance, because permanent life insurance is a tool to build wealth and leave a legacy in the Black community. She said, "If you can't afford permanent life insurance, then get a term life insurance policy with the goal of converting it before the end of the policy." Convert your term life insurance to a permanent policy to prepare for retirementGlenn notes that life insurance is the optimal way to prepare for retirement. When you make the conversion from term life to permanent, understand that there are different types of permanent life insurance policies, like whole, universal, and variable life.

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