DIRS.INFO The most relevant business & tech news

☆ Woman arrested for allegedly throwing wine at Rep. Matt Gaetz
▼ + stars: | 2023-05-02 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

A Florida woman was charged with felony battery after she allegedly threw a glass of wine on Rep. Matt Gaetz, R-Fla., officials said Tuesday. But Chambers told an officer at the time of her arrest that she "was walking and tripped and spilled her drink on Representative Gaetz," according to the report. She also said that she had consumed alcohol at the festival, and that she recognized Gaetz before spilling her drink. Stacy Froeschner, who was with Chambers at the time, said she had cursed at Gaetz as they walked past him, the arrest report said. Other witnesses told officers that they saw Chambers throw the drink, the report said.

☆ GC Agenda: May 2023
▼ + stars: | 2023-05-01 | by ( Practical Law The Journal | ) www.reuters.com time to read: +23 min

Clawback Listing StandardsPublic companies should be aware that proposed NYSE and Nasdaq clawback listing standards may be in place earlier than expected. Organizations may use biometric data in a variety of ways, including when:tracking employee time; restricting access to physical and digital assets; monitoring consumer shopping behavior; and integrating biometric data into consumer products and services. Consider whether the organization’s current policies and procedures meet applicable biometric data handling requirements, including notice, consent, retention, storage, and security obligations. Review applicable laws and obligations when contracting with service providers that handle biometric data and continuously monitor their performance. In February 2023, the NYSE and Nasdaq filed proposed new listing standards, which contemplated that they could become effective as early as April 27, 2023.

☆ Check out Nancy Walton Laurie's $300 million superyacht that features a helipad, swimming pool, and aquarium
▼ + stars: | 2023-05-01 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Walmart heiress Nancy Walton Laurie owns a multi-award-winning $300 million superyacht. A superyacht owned by Walmart heiress Nancy Walton Laurie attracted attention recently after being spotted in Miami, Florida. A TikToker posted a video of "Kaos," Walton Laurie's 361-foot luxury yacht, as it was moored outside her "front door." Walton Laurie, worth $7.5 billion according to Bloomberg Billionaires Index, is the youngest daughter of Walmart co-founder James "Bud" Walton. Walton Laurie reportedly also owns another lavish superyacht called "Secret," according to Robb Report.

☆ For Aging Homeowners, Elevators Give Luxury Properties a Major Lift
▼ + stars: | 2023-04-27 | by ( Lia Picard | ) www.wsj.com time to read: +1 min

In 2020, Russell Franchi’s clients liked many features of a beach home in South Walton County, Fla., but it was missing one thing: an elevator. The clients, who had limited mobility, considered retrofitting an elevator, but ultimately walked away from the deal before finding a house that already had one installed. Kaitlind Meeks-Price, a sales representative of Delaware Elevator in Salisbury, Md., said that elevators are typically 3 feet by 4 feet, but she’s seen them go up to 15 square feet. A basic, three-stop elevator, including installation, typically starts around $32,000 to $35,000. When it comes to maintaining the lift, Ms. Meeks-Price suggests having it serviced at least once a year for the first five years.

Boeing has more than 130 completed MAX jets in inventory for Chinese customers worth more than $15 billion at list prices, although airlines typically receive substantial discounts. The Civil Aviation Administration of China (CAAC) on April 14 released the second revision of its 737 evaluation report which incorporates updates to 737 MAX training and technical information. Chinese airlines begun returning the MAX to service in January led by China Southern (600029.SS) and as of April, all Chinese MAX operators have resumed flight operations, with 45 of 95 MAX jets now back in service, Calhoun said. China Eastern (600115.SS) and China Southern said in March they would resume taking delivery of MAX jets this year, without providing further details. The CAAC report is a reason for "incremental" optimism on MAX momentum in China, Myles Walton of Wolfe Research wrote in to a note to investors.

☆ ChatGPT could cost over $700,000 per day to operate. Microsoft is reportedly trying to make it cheaper.
▼ + stars: | 2023-04-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

ChatGPT could cost OpenAI up to $700,000 a day to run due to "expensive servers," an analyst told The Information. Microsoft is secretly building an AI chip to reduce the cost, per The Information. "Most of this cost is based around the expensive servers they require," Patel told the tech publication. Microsoft is reportedly working on a secret chipIn an effort to reduce the cost of running generative AI models, Microsoft is developing an AI chip it calls Athena, The Information first reported. Nearly four years later, more than 300 Microsoft employees are now reportedly working on the chip, according to the report.

The Walmart heirs' combined worth is roughly $234 billion, according to Bloomberg. The family grants money and resources to support education, environmental efforts, and their home community through the Walton Family Foundation. In public, the Waltons live pretty modest lifestyles despite their wealth. Sam Walton, the original man behind the company that now encompasses both Walmart and Sam's Club, set his family up for financial success when he divided the ownership before he died. He wasn't a man of flashy luxury, but you can see how his children are living a slightly more lavish life now.

☆ Dan Snyder Agrees to Sell Washington Commanders for $6 Billion
▼ + stars: | 2023-04-13 | by ( Ken Belson | Katherine Rosman | ) www.nytimes.com time to read: +1 min

continues its second investigation into allegations of widespread sexual harassment made against executives at the team, including Snyder, as well as potential financial improprieties. Once the Harris group submits its deal, the sale would have to be approved by the league’s finance committee and by at least three-quarters of the 31 other team owners, which could occur within weeks. Harris’s group includes Mitchell Rales, a billionaire from the Washington, D.C., area, and a group of limited partners that includes Magic Johnson. The owners will next meet in person as a group in Minneapolis on May 22 and 23. Last June, the Walton family, founders of Walmart, bought the Denver Broncos for $4.65 billion, about twice as much as the previous record high for an N.F.L.

☆ Washington Commanders near a deal to sell to 76ers owner for almost $6 billion
▼ + stars: | 2023-04-13 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The Washington Commanders are nearing a sale to an ownership group led by Philadelphia 76ers and New Jersey Devils Owner Josh Harris at just under $6 billion, a person familiar with the deal told CNBC. Harris' ownership group includes Washington D.C.-based billionaire Mitchell Rales and NBA legend Magic Johnson. Amazon founder and Washington Post owner Jeff Bezos was exploring the sale process, but decided not to make an offer, according to ESPN. For Commanders fans and former employees, progress in the sale process is welcome news. Commanders owner Dan Snyder announced in November of 2022, that he was putting the Commanders up for sale.

☆ Walmart unveiled its 7th logo last week. See the retailer's logos through the years.
▼ + stars: | 2023-04-13 | by ( Ben Tobin | ) www.businessinsider.com time to read: 1 min

Finally, in 2008, Walmart dropped the hyphen and arrived at the blue logo it touts today. The logo includes a yellow "spark," which represents the spark of inspiration that led Sam Walton to create the first store, and each part of the spark is associated with one of the company's values and principles, according to the company. WalmartSource: Walmart Museum

☆ Another SEAL parachuting death highlights the inherent danger of US special operators' go-to infiltration method
▼ + stars: | 2023-03-29 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

Deadly accidentsNaval Special Warfare operators perform a free-fall jump in Alaska in September. The incident, which likely happened during as part of a pre-deployment workup, is still under investigation, according to Naval Special Warfare Command. Despite that danger, however, free-fall parachuting is also extremely valuable as an insertion method for special-operations units. The Navy SEAL community — especially the Naval Special Warfare Development Group, formerly known as SEAL Team 6 — is well-versed in free-fall operations. Most US special-operations units have recognized the value of free-fall parachuting and have incorporated it into their training.

☆ San Francisco officials weigh giving Black residents $1 homes and $97,000 a year of as part of a massive reparations plan
▼ + stars: | 2023-03-17 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

San Francisco policymakers are considering reparations for many of its Black residents. Proposals include giving qualifying residents $5 million, $97,000 a year for 250 years, or $1 homes. Supervisors unanimously supported the presentation from the San Francisco African American Reparations Advisory Committee, but its proposals remain far from reality. If enacted, though, San Francisco's reparations plan stands to become one of the most substantial packages ever approved in the United States. "This conversation we're having in San Francisco is completely unserious," John Dennis, chair of the San Francisco Republican Party, told the AP.

Powering AI Dungeon's text-generation software was the GPT language technology offered by the Microsoft -backed AI research lab OpenAI. The high cost of training and "inference" — actually running — large language models is a structural cost that differs from previous computing booms. Many entrepreneurs see risks in relying on potentially subsidized AI models that they don't control and merely pay for on a per-use basis. Companies making the foundation models, semiconductor makers, and startups all see business opportunities in reducing the price of running AI software. "Latitude is going to continue to evaluate all AI models to be sure we have the best game out there."

☆ Walmart CEO Plans to Stay in Role at Least Three More Years
▼ + stars: | 2023-03-03 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

With Doug McMillon, Walmart’s 56-year-old CEO, planning to stay in the role, the company has more time to name a successor. Walmart Inc. Chief Executive Doug McMillon plans to helm the country’s largest retailer for at least three more years as the company continues work to identify a successor, according to people familiar with the matter. Mr. McMillon, 56, a Walmart lifer who has held the job since 2014, is the company’s fourth CEO since founder Sam Walton . His plans to stay in the role for more than a decade will extend the company’s timeline for finding its next leader, the people said.

☆ Elizabeth Holmes wants to delay her 11-year prison sentence
▼ + stars: | 2023-03-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Elizabeth Holmes, the former CEO of Theranos convicted of defrauding investors, is seeking to delay the start of her 11-year prison sentence because she has “two very young children” to be with. The court filing last week represents the first public acknowledgment that Holmes gave has given birth to her second child. Her lawyers laid out several reasons to delay the prison sentence pending an appeal of her conviction, arguing that she’s not a flight risk or a danger to the community. Last year, Holmes was sentenced to more than 11 years in prison for defrauding investors while running the failed blood testing startup Theranos. Instead, Theranos was relying on third-party manufactured devices from traditional blood testing companies.

☆ British supermarkets are rationing fruit and vegetables as shortages bite
▼ + stars: | 2023-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — Britain's biggest supermarkets are limiting purchases of certain fruit and vegetables as supply shortages lead to empty shelves. It said the move was due to poor weather conditions overseas and was working with suppliers to "get things back to normal." The U.K. government has not stated Brexit as a factor, blaming weather conditions. EU member Ireland is also experiencing fruit and vegetable shortages. U.K. Food Minister Mark Spencer said Monday he had spoken to retailers about how they are responding to shortages and asked them to build preparedness for future incidents.

☆ Pence said he disagreed with DeSantis over Disney battle, breaking with the Florida governor ahead of possible 2024 matchup
▼ + stars: | 2023-02-22 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

Pence and DeSantis are presumed to be seeing the 2024 GOP nomination for president. Pence drew a distinction with DeSantis on Wednesday over how he handled Disney. Under a new bill that's before DeSantis, the governor will have the power to appoint a state-run board. DeSantis didn't mention during his stumping that he married his wife, Casey DeSantis, at Disney World in 2009, a fact Insider was first to report. DeSantis' battles against big corporations go beyond Disney.

☆ Investors and techies gather in San Francisco to bathe in generative A.I. hype sparked by ChatGPT
▼ + stars: | 2023-02-17 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +8 min

They were there to discuss the latest craze capturing the attention of the tech world: generative artificial intelligence. The underlying AI software powering ChatGPT, a kind of machine-learning technology known as a "large language model," isn't new. As Bessemer Venture Partners' Sameer Dholakia told audience members, generative AI could change "the lives of billions of people." Blackwell credits OpenAI and ChatGPT with showing people what's possible with generative AI, shining a spotlight on the industry at large. But for one day in San Francisco, generative AI was more than just a tool.

☆ These bankers got deals done despite a dismal environment
▼ + stars: | 2023-02-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Top M&A bankers of 2022. That's why you could argue that this year's edition of "The Rainmakers" — Insider's annual list of the 20 M&A bankers who handled the largest deals of the year in North America — is more impressive than previous editions. What's interesting about this year's list is how it was made up of bankers almost entirely from the bulge-bracket. Check out our list of the top-20 M&A bankers who made the most during a difficult year for dealmaking. Jeff Bezos' $500 million yacht finally hit the open water.

☆ Wall Street trading firms aren't giving up on crypto just yet
▼ + stars: | 2023-02-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

A bunch of high-profile Wall Street investors just piled into a startup that pledges to fix a major issue in the crypto industry. And while plenty of those bets blew up — the most spectacular of which was crypto exchange FTX — that hasn't stopped Wall Street. Click here to read more about a new crypto startup that's got backing from some of Wall Street's top trading firms. For a breakdown of all the key partnerships between Wall Street and cloud partners, check out our running list of more than 30 deals. Cheman Cheung left Wall Street after his father passed away to recover from a state of "mental chaos."

☆ The overturn of Roe v. Wade has been a catastrophe for Republican attempts to win over Gen Z
▼ + stars: | 2023-02-06 | by ( Madison Hall | ) www.businessinsider.com time to read: +4 min

The GOP win in getting the Supreme Court to strip abortion rights didn't sit well with young voters. For the survey, Murmuration polled 3,227 15 to 25-year-olds (members of Gen Z) and 1,036 adults aged 26 or older. The Gen Z survey had a 1.7% margin of error, while the survey of adults aged 26 years or older had one of 3%. Aside from "other," which also garnered 29%, abortion access was by far the most pressing issue amongst Gen Z. Since the Supreme Court punted abortion rights back to a state-to-state basis, referendums and constitutional amendments restricting abortion access will continue to pop up.

☆ Analysis: Democrats' downgrade of Iowa's role is a blow to Corn Belt, biofuels
▼ + stars: | 2023-01-05 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

Iowa's political importance created a cottage industry out of educating and supporting candidates on issues that corn farmers and ethanol manufacturers care about. "Forward looking, to get Democratic candidates exposed to farm issues and get these issues in front of them is going to be extremely challenging. “It’s a blow to the industry, in terms of educating and informing the Democratic candidates,” Link said. Link noted that many of the Democratic candidates vying for the nomination were often already serving as elected leaders in Washington or would later become vice presidents or cabinet secretaries. The Iowa caucuses helped developed empathy for rural issues that could later be tapped for legislative success.

☆ Here's what mattered in hedge funds and asset and wealth management in 2022
▼ + stars: | 2022-12-28 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +4 min

To be sure, some big investors like macro hedge funds have been notable exceptions to the market gloom. As we do our own account settling for the year, here is some of our best reporting on the buy-side: hedge funds, asset managers, and wealth management. Tiger, Tiger burning bright. Four years later, the hedge fund, founded by two former Millennium executives, has yet to live up to the lofty expectations for it. Among the money managers benefiting from these political moves are Bank of New York Mellon and Federated Hermes.

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ Denver Broncos fire rookie head coach before the season ends
▼ + stars: | 2022-12-26 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

ENGLEWOOD, Colo. — The Denver Broncos fired first-year head coach Nathaniel Hackett on Monday with two games left in the season. Firing Hackett with two games left in a lost season allows Penner to begin his search for a replacement immediately. The Broncos scheduled a news conference for Tuesday, when they’re expected to name their interim head coach for games at Kansas City next weekend and at home against the Chargers in Week 18. Hackett is the third NFL head coach fired during the 2022 season. The Carolina Panthers replaced Matt Rhule with interim head coach Steve Wilks and the Indianapolis Colts fired Frank Reich and replaced him with coaching novice Jeff Saturday.

Search resuls for: "Walton"

25 mentions found