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☆ Sam Bankman-Fried's FTX had the corporate governance of a college fraternity, congressman says
▼ + stars: | 2022-12-15 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

A congressman likened collapsed exchange FTX's corporate governance to a college fraternity. "It would be laughable were it not so serious," congressman Ritchie Torres said. In reality, the company was more like a college fraternity, congressman Ritchie Torres says, with haphazard and reckless bookkeeping practices. "FTX had the corporate governance of a fraternity," Torres, a member of the House Financial Services Committee, told Coindesk TV on Wednesday. The now-bankrupt exchange used QuickBooks, an accounting software generally used by smaller businesses, not multi-billion dollar companies.

☆ Inside the stunning unraveling of Bright Health, a health-insurance upstart that rocketed to an $11.2 billion valuation and then cratered as it grew too fast
▼ + stars: | 2022-12-05 | by ( ) www.businessinsider.com time to read: +11 min

Bright Health Group grew fast. "We're just starting to realize the full potential of our differentiated model, and we're excited about the future of Bright Health Group," Bright CEO G. Mike Mikan told analysts at that investor event. Bright Health is one of a handful of upstarts trying to take on the health-insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderBreaking into the health-insurance industry is tough. Bright moves to cut expensesAs losses mounted in 2021, Bright scrambled to raise capital.

☆ You may think Twitter was wrong to censor the Hunter Biden laptop story but it wasn't a violation of the First Amendment
▼ + stars: | 2022-12-05 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Twitter, as a private company and not the government, can choose what it does and does not publish. But whether or not the decision was wrong, it wasn't a violation of the First Amendment of the Constitution. "Twitter is not a state actor and the First Amendment applies only to state actors." So whether or not Twitter could violate the First Amendment, depends on whether or not it can be considered the government. "Both the state, the Trump White House, and the Biden team were asking Twitter, and Twitter was under no obligation to either oblige or refuse those requests," Kalir said.

Trinidad Gonzales, a professor of history and Mexican American studies at South Texas College, has been honored with the 2022 John Lewis Award for History and Social Justice. Refusing to Forget's work spurred an award-winning exhibit at the Bullock Texas State History Museum in Austin — the first time the state had publicly addressed "La Matanza." He played a role in a five-year battle to help change state standards for high school Mexican American history classes. “We all knew internally that it wasn’t just simply a fight for Mexican American studies,” Gonzales told South Texas College. "We're fearful that they're going to try to eliminate Mexican American studies, African American Studies, Indigenous Studies and Asian American studies," Gonzales said in the interview.

☆ Elon Musk says he'll release details about 'what really happened with the Hunter Biden story suppression by Twitter'
▼ + stars: | 2022-12-02 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Elon Musk says he's releasing details on Twitter's "suppression" of a story about Hunter Biden's laptop. ET on what he says was Twitter's "suppression" of a controversial story about Hunter Biden's laptop before the 2020 election when the site was under different ownership. Last month, Musk tweeted that making public internal discussions about decisions regarding the story "is necessary to restore public trust." Rep. James Comer, R-Ky., the ranking member on the House Oversight Committee, asked Musk for these documents in October as part of their investigation into Hunter Biden's business dealings. No evidence to date has suggested that Hunter Biden's work influenced his father's policy decisions.

☆ EXCLUSIVE Tesla mulls exporting China-made EVs to United States-sources
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +5 min

Tesla's Shanghai Gigafactory has the capacity to produce 1.1 million electric vehicles per year after an upgrade earlier this year, making it Tesla's most productive manufacturing hub. The California plant, Tesla's first, produces the Model S, the Model 3 sedans and the Model X and Model Y crossovers. At the same time, the price gap between Tesla cars sold in China and the United States has been widening, reflecting both higher U.S. prices and new discounts in China. Tesla sells the Model Y for the equivalent of $49,344 in China, compared to the U.S. price of $65,990. loadingTesla would not be the first U.S. automaker to ship made-in-China vehicles to the United States.

☆ $2.04 billion Powerball jackpot is now the largest prize in history—here are the top 5 so far
▼ + stars: | 2022-11-10 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

The $2.04 billion Powerball jackpot finally found a winner on Tuesday morning, after technical difficulties delayed the drawing that had been scheduled to take place on Monday. The massive prize marked the fifth time in the past five years that a lottery jackpot has crossed the billion-dollar threshold — and this one was a world record. That one was also a Powerball drawing that reached $1.586 billion and was split between three winning tickets. $1.59 billion (Powerball)This Powerball drawing from Jan. 13, 2016, for which three winning tickets were sold, held the record as history's biggest lottery prize for more than six years, until this week's Powerball drawing dropped it down a spot. $1.34 billion (Mega Millions)The first billion-dollar jackpot of 2022 topped $1.3 billion before it found a winner in July.

☆ Thirty-year old crypto tycoon Sam Bankman-Fried was worth $16 billion. 94% of that was wiped out in just one day.
▼ + stars: | 2022-11-09 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried saw nearly all of his net worth wiped out in a day. His crypto-exchange platform, FTX, was seemingly on the verge of collapse before Binance agreed to buy it on Tuesday. Bankman-Fried saw his next worth plunge 94% in one day, the largest drop ever for a billionaire, according to Bloomberg. On Monday, Bankman-Fried was considered one of the world's wealthiest people, with a net worth of $16 billion. The Bloomberg Billionaires Index estimates that Bankman-Fried's net worth crashed by 94% on Tuesday, making it the biggest one-day collapse in wealth ever among billionaires.

☆ The $1.6 billion Powerball jackpot is now the largest ever—here are the top 5 so far
▼ + stars: | 2022-11-04 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Once again, a lottery jackpot has crossed the billion-dollar threshold — the fifth time in the past five years — and this one is a world record. Saturday's Powerball drawing now has a jackpot of $1.6 billion, the largest ever, after no winners were announced for Wednesday night's $1.2 billion drawing. That one was also a Powerball drawing that reached $1.586 billion and was split between three winning tickets. $1.34 billion (Mega Millions)As mentioned above, the record Powerball drawing is already the second billion-dollar jackpot of 2022. $768.4 million (Powerball)

☆ Here's how to spot high-quality dividend stocks and manage risk in an unprecedented bear market, according to a 33-year investing veteran who runs a $16 billion fund
▼ + stars: | 2022-10-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

John Linehan of T. Rowe Price shared how he manages over $16 billion in assets. John Linehan, the chief investment officer for equities at T. Rowe Price, has encountered plenty of different investing landscapes in his 33-year career. Linehan, who manages over $16 billion in assets in the T. Rowe Price Equity Income Fund (PRFDX), is currently attempting to thread the needle between playing offense and defense. High, reliable dividend yields are vital to the T. Rowe Price Equity Income Fund, Linehan said, but the size of the quarterly payment is far from his only consideration on that front. "We're looking for companies that have both an attractive yield but also attractive attributes beyond the yield," Linehan said.

☆ Maryland Gov. Larry Hogan takes aim at Biden and 'performative' DeSantis amid speculation he's eyeing a 2024 run
▼ + stars: | 2022-10-13 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

Larry Hogan of Maryland criticized President Joe Biden and Florida Gov. Ron DeSantis during a recent speech in New Hampshire, amid growing speculation that he'll seek the White House in 2024. The Florida governor is up for reelection in November and hasn't said he's seeking the White House, but polling shows he's been edging onto Trump as a GOP favorite. Neither the White House nor the Florida governor's office responded to a request for comment before this story's publication. Should Hogan run for president he would join what is becoming a crowded field of GOP potential contenders.

☆ A rout by the US in an air battle around Taiwan led Japan to adopt desperate tactics in World War II's final months
▼ + stars: | 2022-10-12 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +8 min

Their goal was to destroy as much of Japan's air and naval strength before US troops landed on the Philippine island of Leyte. A diversionA Japanese heavy cruiser after being bombed by US Navy aircraft during the Battle of Midway in June 1942. But Japan's air and naval power were still major threats, and to ensure the Philippines could be liberated, they had to be degraded, if not eliminated. By 1944, Japanese military leaders recognized their situation and devised a plan to prepare for US invasions of Japanese-held territory. Japanese attempts to attack the carriers were fruitless, with 42 more Japanese planes shot down trying to conduct attack runs.

☆ Stifel's stock chief shares 4 places to put your money now as an 'immediate window' for returns opens up while stocks hit a near-term bottom
▼ + stars: | 2022-09-26 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

He said the S&P 500 would climb back to 4,400 by early next year. He said he thinks the S&P 500 will rally back to 4,400, which is about 19% upside from where it closed on Friday. StifelProvided that inflation continues to meaningfully drop, so too will yields on 10-year Treasury Inflation-Protected Securities, or TIPS, Bannister said. When 10-year TIPS yields and 36-month fed funds futures fall, the S&P 500 tend to rise. Longer-term, the S&P 500 is likely to remain range-bound below 4,800 through the rest of the decade, he said.

☆ Hillary Clinton likened Donald Trump's Ohio rally to Adolf Hitler speeches, report says
▼ + stars: | 2022-09-24 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Hillary Clinton liked Donald Trump's rally in Ohio to speeches by Adolf Hitler, per Fox News. Trump's spokesperson told Fox News that the comparison was "pathetic" and "divisive." "I remember as a young student, you know, trying to figure out, how people get basically brought in by Hitler," Clinton said, per Fox News. Attendees of the rally in Youngstown, Ohio, raised their fingers to the sky as a QAnon-associated song played. The finger salute at the Ohio rally generated controversy, prompting New York State Senator Anna Kaplan to compare it to the "Heil Hitler" salute used by Nazis.

☆ Charts suggest inflation could soon come down ‘substantially,’ Jim Cramer says
▼ + stars: | 2022-09-22 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer on Thursday said that inflation could soon decline, leaning on charts analysis from legendary technician Larry Williams. "The charts, as interpreted by Larry Williams, suggest that inflation could soon cool down substantially — soon — if history's any guide," he said. The "Mad Money" host's comments come after the Federal Reserve on Wednesday raised interest rates by another 75 basis points and reiterated its hawkish stance against inflation. To explain Williams' analysis, the "Mad Money" host first examined a chart of the current Federal Reserve sticky price consumer price index (in black) compared to the burst of inflation in the late seventies and early eighties (in red).

☆ Why convertible cars are declining in popularity
▼ + stars: | 2022-09-22 | by ( Robert Ferris | Jade Tungul | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy convertible cars are declining in popularityGaining popularity in the 1950s and 1960s, the convertible car is an automotive American icon. As a symbol of leisure and fun, some history's iconic models were convertibles, such as the Chevrolet Corvette and the Ford Mustang. However, convertibles have been steadily losing popularity among car buyers and make up only 0.46% of new car sales in 2021. Buyers value practicality and functionality over looks and leisure, leading their interests elsewhere. Can the iconic design stand the test of time?

☆ Brian Sullivan's RBI: What history's sell-off signals tell us
▼ + stars: | 2022-09-21 | 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 EmailBrian Sullivan's RBI: What history's sell-off signals tell usBrian Sullivan's daily RBI segment on Worldwide Exchange focuses on the top 10 hottest CPI prints in the past few decades... and what they may suggest for moves in the markets this year.

☆ 'Andor' review: 'Star Wars' revives Diego Luna's character in a slow-moving prequel to 'Rogue One'
▼ + stars: | 2022-09-20 | by ( Review Brian Lowry | ) edition.cnn.com time to read: +1 min

(CNN) A prequel to a prequel, "Andor" brings a gritty tone and look to the "Star Wars" universe, as much the washed-out landscape of "Blade Runner" as George Lucas' far-away galaxy. Yet whatever promise that entails is mostly lost in flabby storytelling, essentially stretching what would have been a 10-minute movie prologue over the first three episodes. Disney+ has wisely decided to launch the 12-episode prequel to "Rogue One," starring Diego Luna as the spy Cassian Andor, with those three episodes, providing a somewhat better sense of the series' framework than the plodding first installment. Following a less-trodden path, though, doesn't excuse moving at the pace of a wounded Bantha, bogged down by flashbacks to the protagonist's childhood. Nor do these early episodes do enough to distinguish the shifting cast of supporting characters, a group that doesn't provoke much more than indifference.

☆ These are the 10 best generals of all time, according to math
▼ + stars: | 2022-09-14 | by ( Blake Stilwell | We Are The Mighty | ) www.businessinsider.com time to read: +2 min

It starts with comparing the number of wins from that general to a replacement general in the same circumstances. The real power is ranking the general's WAR score, the aforementioned Wins Above Replacement. For each battle, the general receives a weighted WAR score, a negative score for a loss. There were some surprises in the model, like the apparent failures of generals like Robert E. Lee and more modern generals. To see every general's data point and where they sit in the analysis, check out the Bokeh Plot, an interactive data visualization.

☆ Why tech workers are quitting great jobs at companies like Google to fight climate change
▼ + stars: | 2022-07-26 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +14 min

"What bigger problem is there to solve for our generation than climate change?" Not only is climate change an existential-level threat to humanity, it is especially dangerous for the poorest communities around the world. "Eventually, it just got to the point where I couldn't justify to myself why I'm still doing something that isn't climate," Kirpichov told CNBC. "It turns out that there are just so many people who are in the same boat," Kirpichov told CNBC. We know Southeast Asia is going to get hit really hard with climate change.

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