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Trump CFO Allen Weisselberg told a blatant lie about a blatant lie. Here's how NYC prosecutors got him for perjury. 2024-03-04 21:13:45+00:00 - On Monday in Manhattan, Allen Weisselberg pleaded guilty to two state felony counts of perjury. Both lies involved the size of Donald Trump's Trump Tower penthouse on Fifth Avenue in Manhattan. The plea essentially renders the former Trump Org CFO useless as a hush-money trial witness. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Allen Weisselberg had little choice but to plead guilty to perjury after Manhattan prosecutors caught him blatantly lying about lying, as they revealed in court Monday. And underlying this stack of lies is Trump's obsession with pretending to banks that he had a massive, gigantic, colossal penthouse — the most expensive apartment, he claimed a decade ago, in New York City history. Here's how Weisselberg, Trump's ever-loyal, former Trump Organization CFO, was inescapably caught repeatedly telling easily provable lies about that penthouse during sworn testimony — felonies that will now send him back to jail for up to five months. It started in 2012 It was in 2012 that Trump was first recorded — in official net-worth statements — wildly exaggerating the size of his penthouse apartment, which spans three floors atop Trump Tower on Manhattan's Fifth Avenue. Advertisement Trump knew the penthouse was 10,996 square feet. He'd signed a real estate record attesting to that size in 1994. Donald Trump's signature on a 1994 real estate record that proved he knew how big his own triplex apartment was. NY Attorney General's Office/Insider But in the five years of annual net-worth statements he issued for the years 2012 through 2016, he claimed the apartment was 30,000 square feet. "A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud," Trump's civil fraud trial judge, state Supreme Court Justice Arthur Engoron, wrote back in September. "Absurd," New York Attorney General called Trump's claim, in his 2015 net-worth statement, that the then 30-year-old apartment was worth $327 million. Advertisement She noted that by 2015, no apartment in the city, not even newer and larger ones, had sold for anywhere near that princely sum. Trump Tower in New York Thomson Reuters In the spring of 2017, Trump sat down with a Forbes reporter in a failed attempt to stop the magazine from publishing a bombshell — "Donald Trump has been lying about the size of his penthouse." (Four days after learning Forbes was writing the story, Trump went ahead and issued his 2016 net-worth statement anyway, claiming the apartment was 30,000 square feet one last time, according to fraud-trial evidence.) Weisselberg was at that sit-down with Forbes, assistant Manhattan district attorney Gary Fishman said Monday, during the ex-CFO's plea hearing. Advertisement But in a pretrial deposition conducted in 2020 by the state District Attorney's office, Weisselberg had denied ever being in the same room as Trump when the triplex's size was discussed. He was asked, "Were you ever present when Mr. Trump described the size of his triplex?" "No," Weisselberg answered. Weisselberg's denial could have protected not only himself but also Trump — if only it had been true. Advertisement On Monday, Weisselberg admitted this inescapable deposition falsehood — one that prosecutors may have easily been able to verify with Forbes, which reported that Trump and Weisselberg were together at interviews about the size of the triplex as early as 2015. Weisselberg also admitted Monday that he'd lied in the same 2020 AG deposition about the timing of when he knew the 30,000-square-foot valuation was wrong. "We didn't find out about the error until the Forbes article came out," Weisselberg swore under oath, despite the earlier sit-downs and extensive pre-story emails between Forbes and Weisselberg concerning the square-footage flub. Engoron and state officials have contended that the square footage was intentionally inflated by Trump and Weisselberg as far back as 2012. Advertisement Read the charges Weisselberg pleaded guilty to here. Weisselberg's career as a loyal Trump witness now appears to be over The last Manhattan jury to hear Weisselberg testify did not believe him. (In finding Trump Org guilty of dodging payroll taxes, they rejected the ex-CFO's claim that in running the scheme, he'd had purely selfish motives and that those at the top of the ladder — Donald Trump and his two eldest sons — had nothing to do with it.) Weisselberg could have been a key prosecution witness again later this month, in Trump's upcoming hush money trial. That's the Manhattan criminal trial at which Trump faces anywhere from zero to four years in prison for allegedly lying in business documents to hide a $130,000 hush-money payment to porn actress Stormy Daniels made days before the 2020 election.) Advertisement But Monday's perjury plea does not require Weisselberg to cooperate in any way with prosecutors. Instead, Weisselberg's only obligation between now and his April 10 sentencing is to remain law-abiding and not flee the jurisdiction, or else he'll face up to seven years in prison. And prosecutors have already said they do not plan to call Weisselberg as a witness, despite the former CFO's role in the paperwork underlying the hush-money payment and its alleged cover-up. It's unclear what help, if any, Weisselberg could have been as a hush-money defense witness. The alleged fraud's underlying documents say what they say, and no testimony could change their contents. But now, given his official history of lying under oath on Trump's behalf, it's unlikely Trump's side would ever call Weisselberg to the stand, either. Advertisement Jury selection in the hush money trial is scheduled to begin March 25, with the trial expected to last six weeks.
AssetMark Launches Advisor Dashboard, First Step in Broader Digital Ecosystem Enhancements - AssetMark Financial Hldgs (NYSE:AMK) 2024-03-04 21:11:00+00:00 - Loading... Loading... CONCORD, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- AssetMark, a leading provider of wealth management solutions powering independent financial advisors and their clients, today announced the launch of its Advisor Dashboard, the new central hub of AssetMark's digital platform. Designed to deliver real-time client and business insights, the Advisor Dashboard enhances efficiencies for advisors and streamlines their workflows. "At AssetMark, we are committed to empowering advisors with the technology they need to thrive," said Esi Minta-Jacobs, EVP, Head of HR & Digital Product Solutions for AssetMark. "The Advisor Dashboard marks a significant step forward in our ongoing mission to modernize our tech stack and create a faster, more flexible, and intuitive user experience for advisors. This enhanced platform will equip them to confidently guide their clients through their financial journeys." The Advisor Dashboard serves as the new homepage of AssetMark's advisor platform, offering a comprehensive view of key performance indicators across clients, accounts, and businesses. Advisors can tailor their dashboards to their specific needs using drag-and-drop tiles, displaying vital information like total assets under management, client lists, and account details. The Advisor Dashboard acts as a launchpad to all of AssetMark's digital capabilities, empowering advisors with the data, tools, and technology they need to engage clients, deliver expert financial guidance, and manage their businesses efficiently. Advisors can create up to five custom dashboards for different activities, each with its own set of customizable tiles. This personalized approach ensures advisors have the information they need at their fingertips, maximizing efficiency and productivity. To learn more about the Advisor Dashboard, visit www.assetmark.com or join AssetMark's upcoming webinar, "Empower Your Growth: Unlock the Power of the Advisor Dashboard," on Thursday, March 7 at 4:00 pm ET for a live dashboard walkthrough and Q&A session. About AssetMark AssetMark operates a wealth management platform that powers independent financial advisors and their clients. Together with our affiliates Voyant and Adhesion Wealth, we serve advisors of all models at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Our ecosystem of solutions equips advisors with services and capabilities that would otherwise require significant investments of time and money, ultimately enabling them to deliver better investor outcomes and enhance their productivity, profitability, and client satisfaction. Founded in 1996 and based in Concord, California, the company has nearly 1,000 employees. Today, the AssetMark platform serves over 9,300 financial advisors and over 254,000 investor households. As of December 31, 2023, the company had $108.9 billion in platform assets. Media: Alaina Kleinman Head of PR & Communications alaina.kleinman@assetmark.com
The ultimate guide to Super Tuesday 2024-03-04 21:10:28+00:00 - Both President Biden and former President Trump are focused on the November general election. But they must first win over voters in a slew of primaries and caucuses on Super Tuesday. Ex-UN ambassador Nikki Haley has continued to campaign vigorously against Trump in the GOP primary. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Super Tuesday, on March 5, is perhaps the most important day on the presidential nominating calendar, with the outcomes of races in 16 states and one territory poised to give virtually insurmountable delegate leads to both President Joe Biden and former President Donald Trump. Headed into Super Tuesday, Trump has won nearly every GOP contest against his remaining major intraparty challenger, former UN ambassador Nikki Haley. The former president emerged victorious in key contests including the Iowa caucuses, New Hampshire primary, South Carolina primary, and Michigan primary, while Haley won her first primary in Washington, DC, on Sunday. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .
Bugatti CEO responds to Elon Musk's claim that Tesla Roadster will be able to do 0-60 mph in under a second 2024-03-04 21:06:29+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Elon Musk's ambitious new promises for the long-awaited Tesla Roadster have raised eyebrows — including Bugatti's CEO's. Last week, Musk announced on X, formerly Twitter, that Tesla had "radically increased the design goals for the new Tesla Roadster." Among the new benchmarks: acceleration from 0 to 60 mph in less than one second — which would be a world record. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Those numbers, while eye-popping, are technically feasible, according to Mate Rimac, CEO of Bugatti Rimac. Rimac's own electric sports car, the Nevera, set the current 0 to 60 acceleration record — 1.71 seconds — last year, according to Road & Track. Advertisement "It is possible with thrusters," Rimac acknowledged in a response to a Facebook comment under a photo of the engine for Bugatti's new Chiron sports car. "We did the simulation." However, the Croatian auto executive added that there may be some drawbacks to accelerating that fast. "Problem is," he said, "you release the air in 2-3 seconds, and then you have a lot of dead weight that you are carrying around (tanks, compressor, valves, nozzles, etc.)" Nevertheless, the Bugatti CEO said that thrusters "are really the only way to go" since alternative methods of acceleration, like suction fan technology, would be too impractical. Though a few sports cars have incorporated suction fans, Rimac dismissed the technology due to the Roadster's weight and the "massive" equipment required. Advertisement Musk didn't elaborate on how the Roadster would be equipped to break Rimac's record, saying only that the acceleration was "the least interesting part." Tesla did not return a request for comment before publication. Previously, the Tesla Roadster was billed as reaching 60 mph in 1.9 seconds, a figure that is still up on Tesla's website. Production design on Tesla's second-generation Roadster is complete, Musk posted, adding that the company expects to formally unveil the vehicle by the end of the year. Tesla aims to start shipping the first production models in 2025. "I think it has a shot at being the most mind-blowing product demo of all time," he added. Advertisement It's not the first time the Tesla CEO has made big promises. Tesla weathered criticism last year after Cybertruck drivers pointed out that many of its specifications, including its range and price point, were not what had been initially announced.
EXACTA SYSTEMS® LIVE AT THE BROOK IN SEABROOK, NEW HAMPSHIRE - Churchill Downs (NASDAQ:CHDN) 2024-03-04 21:06:00+00:00 - Loading... Loading... BOYNTON BEACH, Fla., March 4, 2024 /PRNewswire/ -- Exacta Systems® ("Exacta") announced today that they have completed the installation of 175 Exacta Connect® powered terminals at The Brook, a casino-entertainment destination in Seabrook, New Hampshire. Located in the easternmost part of the state next to the Massachusetts border, this new install at The Brook ensures Exacta continues to lead the field of Historical Horse Racing (HHR) technology across the United States. These new terminals, powered by the Exacta Connect® system, feature top gaming titles from leading manufacturers like Everi, AGS, Light & Wonder, IGT and IT. Exacta Systems newest installation at The Brook in New Hampshire . "We are thrilled to introduce these incredible games on the Connect System," said Jeff Clifford, vice president of sales and revenue for Exacta Systems. "The Brook is a first-class partner, and we look forward to many years of great success together." "As the region's premier destination casino, The Brook strives to offer players the best, most dynamic, and exciting games," said Andre Carrier, CEO of The Brook. "With the addition of Exacta Connect, we now have an even wider selection of game manufacturers and titles, giving guests many more reasons to LIVE FREE & PLAY at The Brook." About Exacta Systems: Exacta Systems is the pioneering technology driving growth in new and existing HHR markets. Owned by Churchill Downs Incorporated CHDN, Exacta Connect's robust and uniquely flexible system architecture supports multiple game vendors and virtually unlimited math modeling capabilities on a single system, enabling Exacta to deliver a diverse gaming library with second-to-none entertainment experiences. www.exactasystems.com. About The Brook: Known as America's Largest Charity Casino, The Brook is a 90,000 square-foot entertainment destination located just over the New Hampshire-Massachusetts border that has been redeveloped by Eureka Casinos, the only 100% employee-owned hospitality company in the U.S. The Brook's newly expanded casino floor offers 500 of the most popular gaming machines, simulcast racing seven days a week, a range of casino table games, including blackjack, roulette, and craps, as well as the state's only Stadium Gaming interactive table game experience, a live poker room, and a DraftKings Sportsbook that is the largest of its kind in New England. For more information and the latest news, please visit LiveFreeandPlay.com and follow us on Facebook, Instagram and X (formerly Twitter). SOURCE Exacta Systems
San Francisco Art Institute Headquarters Sold to Group Led by Laurene Powell Jobs 2024-03-04 21:04:44.551000+00:00 - The main campus of the bankrupt San Francisco Art Institute, which is home to a beloved Diego Rivera mural, has been sold to a new nonprofit organization led by the philanthropist Laurene Powell Jobs. The nonprofit, made up of local arts leaders and supporters including Powell Jobs, the widow of the Apple co-founder Steve Jobs, bought the campus — which has been plagued by debt — through a limited liability company, for about $30 million. The sale, reported earlier in The San Francisco Chronicle, includes “The Making of a Fresco Showing the Building of a City,” a 1931 mural by Rivera, which has been valued at $50 million and will remain in a viewing room. The former school will house an unaccredited institution that will include a residency program where artists can “develop their work and show their work,” said David Stull, the president of the San Francisco Conservatory of Music, who is a member of the new nonprofit organization’s advisory committee. He described the new center “as a platform for supporting artists and creating a center for the community around art.”
Most Ukrainians say Western support is critical to success in their fight, but confidence they'll get it has hit a new low 2024-03-04 21:04:00+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview A majority of Ukrainian people believe sanctions, financial support, and weapons from the West are critical for success against Russia, but confidence in the West's ability to provide this much-needed support is falling, according to new polls. The Kyiv International Institute of Sociology reported February 29 that 57 percent of Ukrainians feel Western support is the most important factor in determining their country's success in the war. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. The second most important factor that 33 percent of respondents believed could help Ukraine achieve success was "greater efficiency and transparency of Ukrainian authorities." But while most Ukrainians believe that war aid from countries like the US could benefit their country, their confidence in Western support has reached a new low. Advertisement On February 27, the institute reported that over 40 percent of Ukrainians felt that "the West is getting tired of Ukraine," that support is weakening, and that "the West wants to press for Ukraine to make concessions to Russia." Confidence in Western support has dropped around a dozen percentage points since October 2023 and around 30 percentage points since September 2022. "The fact that the optimism of Ukrainians is becoming more and more restrained is a direct consequence of the problems with a stable and sufficient supply of weapons from the Western allies (the situation in the USA is especially worrying for Ukrainians)," KIIS executive director Anton Hrushetskyi said in response to the poll results. The latest polls were conducted as the US Congress has been struggling to pass a sufficient aid package for Ukraine since October. Advertisement "Although a number of Ukrainian friends are unwaveringly making really significant efforts, some of our other partners seem to be talking more about good words than doing good deeds," Hrushetskyi added. While Ukraine awaits US funding, its military has been wreaking havoc on Russia's Black Sea ship fleets using naval drones and trying to use drones to improve the longevity of ammunition and accuracy of other weapons.
Stereotaxis Announces Regulatory Submissions of the MAGiC Ablation Catheter in Europe and the United States - Stereotaxis (AMEX:STXS) 2024-03-04 21:02:00+00:00 - Loading... Loading... ST. LOUIS, March 04, 2024 (GLOBE NEWSWIRE) -- Stereotaxis STXS, a pioneer and global leader in surgical robotics for minimally invasive endovascular intervention, today announced that regulatory submissions were made recently in both Europe and the United States for the MAGiC™ catheter. These submissions follow successful initial clinical results in an ongoing trial. Stereotaxis' MAGiC catheter is a robotically navigated magnetic ablation catheter designed to perform minimally invasive cardiac ablation procedures. Building on the experience gained through over 100,000 procedures during the course of nearly twenty years with existing robotically navigated ablation catheters, MAGiC incorporates various features that are designed to enhance patient safety, procedural effectiveness and efficiency, and the physician experience. The first human procedures with the MAGiC catheter commenced earlier this year as part of a prospective multi-center clinical study. Stellar initial results during the first 20 procedures were submitted for publication to a leading Electrophysiology journal, with the authors documenting 100% acute efficacy and no adverse events. These results were included in the regulatory submissions. The CE Mark and PMA Supplement submissions of the MAGiC catheter reflect the culmination of an extensive design, development, manufacturing and testing effort. The catheter is the first in a series of interventional devices being developed by Stereotaxis and serves as a platform for future innovations. Stereotaxis anticipates making the MAGiC catheter commercially available for the community of robotic electrophysiologists following receipt of regulatory clearances. "We are excited to have reached this significant milestone for Stereotaxis and for the physician community that is pioneering the frontiers of robotics in electrophysiology," said David Fischel, Stereotaxis Chairman and CEO. "We look forward to working collaboratively with the regulatory agencies during their review of our submissions and hope to make the benefits of MAGiC available to patients and physicians in the near future." About Stereotaxis Stereotaxis STXS is a pioneer and global leader in innovative surgical robotics for minimally invasive endovascular intervention. Its mission is the discovery, development and delivery of robotic systems, instruments, and information solutions for the interventional laboratory. These innovations help physicians provide unsurpassed patient care with robotic precision and safety, expand access to minimally invasive therapy, and enhance the productivity, connectivity, and intelligence in the operating room. Stereotaxis technology has been used to treat over 100,000 patients across the United States, Europe, Asia, and elsewhere. For more information, please visit www.Stereotaxis.com. This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially. Factors that would cause or contribute to such differences include, but are not limited to, the Company's ability to manage expenses at sustainable levels, acceptance of the Company's products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase its technology, competitive factors, changes resulting from healthcare policy, dependence upon third-party vendors, timing of regulatory approvals, the impact of pandemics or other disasters, and other risks discussed in the Company's periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company's control and may be revised, modified, delayed, or canceled. Company Contacts: David L. Fischel Chairman and Chief Executive Officer Kimberly R. Peery Chief Financial Officer 314-678-6100 Investors@Stereotaxis.com
You'll soon be able to get birth control without a prescription. Here's what you need to know. 2024-03-04 21:01:50+00:00 - Opill, an oral contraceptive, is now available without a perscription in the US. It is the first hormonal birth control available for retail and will expand access. The pill costs $20 per month and is being carried by Amazon, Walgreens, CVS, Target, and Walmart. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Birth control is about to be available without a prescription for $20 a month online or at your local pharmacy. Opill, an oral contraceptive, is the first hormonal birth control to become available for retail in the US — and will hit store shelves in the coming weeks. The pill has been on the market as a prescription birth control method since the 1970s, and was approved for retail by The US Food and Drug Administration in July. Amazon, Walgreens, CVS, Target, and Walmart, as well as most drugstores and supermarkets will carry the pill. Perrigo, Opill's manufacturer, announced Monday that the pills will be sold for a recommended retail price of $19.99 for a month's supply. A three-month supply will cost $49.99, and people can buy a six-month supply online for $89.99. Advertisement There is no age requirement for purchasing the pill. About 65% of women ages 15-49 use some form of contraceptive, research from The Guttmacher Institute found. In clinical trials, Opill was 98% effective at preventing pregnancy in people who used it as their primary birth control method for a full year. Prescription-free birth control will expand access The introduction of Opill to family planning aisles will lower barriers to birth control. About half of all US pregnancies between 2015 and 2019 were unplanned, per the latest available data by The Guttmacher Institute. However, Guttmacher researchers said unplanned pregnancy rates are declining — largely because of growing contraceptive access. Advertisement Birth control is covered by most insurance and under The Affordable Care Act, but KFF (formerly known as Kaiser Family Foundation) found that about 25% of people pay some out-of-pocket costs because their preferred birth control method, prescribing provider, or pharmacy is out-of-network. One in five uninsured people said they had to stop using a contraceptive method in 2022 because they couldn't afford it, according to KFF. Since Opill is available without a prescription, people will no longer have to pay a doctor or pharmacist to access hormonal birth control. The cost of Opill itself may also be eligible for coverage under flexible spending or health savings accounts. Free the Pill, a coalition focused on birth control access, called the introduction of Opill to stores "a landmark moment for public health nationwide." Advertisement Still, Project Director Victoria Nichols said the $19.99 cost for one month's supply might not be affordable for low-income people and people working to make ends meet. She urged policymakers to make sure non-prescription birth control is covered by insurance and assistance programs. "Due to systemic inequities, cost can mean the difference between people getting effective contraception or going without," Nichols said in a public statement. How does Opill work? Opill is intended to be taken once-per-day, and takes 48 hours from the first dose to become effective. Users must take the pill at the same time every day. The medication is progestin-only, meaning it does not contain estrogen. Progestin-only pills generally have fewer side effects and complication risks than birth control pills that use a combination of synthetic hormones, according to The American College of Obstetricians and Gynecologists. Bloating, minor headaches, and menstrual cycle changes are the most common Opill side effects. Advertisement Progestin-only birth control also carries a risk of ectopic pregnancy and can increase a person's risk for breast cancer, regardless of medical history. "The addition of estrogen in a combined pill can carry additional risk," Dr. Tania Serna, an OB-GYN and complex family planning specialist at the University of California, San Francisco, told BI in July, "Just having the one hormone progestin is a very safe option for an over-the-counter product." Opill is not recommended for people with a history of cancer or liver disease, per Perrigo. The pill also does not function as an emergency contraceptive or as prevention for sexually transmitted infections.
SYLA Technologies Subsidiary SYLA Solar Announces Comprehensive Business Alliance with LIVE THE CREATIVE - SYLA Techs Co (NASDAQ:SYT) 2024-03-04 21:01:00+00:00 - Loading... Loading... TOKYO, March 04, 2024 (GLOBE NEWSWIRE) -- SYLA Technologies Co., Ltd. SYT ("SYLA" or "the Company"), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced its subsidiary, SYLA Solar Co., Ltd. ("SYLA Solar") has entered into a Comprehensive Business Alliance Agreement with LIVE THE CREATIVE Inc. ("LIVE THE CREATIVE") to innovate solar power plant development. Business Alliance Purpose and Background The business alliance between SYLA Solar and LIVE THE CREATIVE combines the expertise and advanced technologies of both companies to synergistically innovate solar power plant development. SYLA Solar brings its extensive knowledge spanning from land acquisition to regulatory compliance and design within solar power plant development. Meanwhile, LIVE THE CREATIVE delivers highly precise and efficient surveying solutions utilizing drone technology. Efficiency and precision are indispensable in the development of safe solar power plants, underscoring the significance of this partnership. Beginning with the selection of suitable land, the construction of solar power plants requires design decisions based on accurate data. The integrated approach by both companies will expedite and streamline the entire development process, spanning from land acquisition to design. Specific Benefits of Developing Solar Power Plants This business alliance has significantly enhanced the precision and efficiency of land surveys. For instance, surveys in highland areas, which previously consumed over a month with conventional methods, can now be completed in just half a day by integrating drones, an emerging ICT technology. Additionally, necessary information can be accessed within a week from the captured data. By merging drone-based topographic surveys with laser scanning technology, a comprehensive understanding of various land features, including shape, structure, terrain, and tree arrangement, has been achieved with remarkable accuracy. This technological advancement enables the effective utilization of a broader range of land, including areas that were previously difficult to access. As a result, it facilitates the selection of land suitable for solar power plant development, enhances precision during the design phase, and significantly improves overall development efficiency while minimizing the impact of natural disasters. Future Prospects In response to the Japan's declining workforce, SYLA Solar plans to bolster its automation and labor-saving efforts, leveraging its DX technology through further demonstrations. Additionally, SYLA Solar's initiatives will align with ESG (Environmental, Social, Governance) objectives. The efficient development of solar power plants promote the use of renewable energy and contributes to reducing greenhouse gas emissions. Furthermore, drones can support disaster prevention efforts by swiftly converting terrain into 3D data, facilitating surveys for hazard mapping in the region, while enabling real-time situational awareness during disasters. Even in hazardous areas inaccessible to humans, drones provide a safe and accurate means of assessing situations. LIVE THE CREATIVE. inc Head Office: Nampeidai Imai Building 8F, 15-15, Nampeidai, Shibuya-ku, Tokyo, Japan Representative Director: Kouki Nakanishi Establishment: July 2020 Capital: 5,000,000 yen Website: https://drone.livethecreative.co.jp/ SYLA Solar Co., Ltd. Head Office: Land Square Marunouchi 2F, 2-18-14 Marunouchi, Naka-ku, Nagoya, Aichi, Japan Representative Director: Takeshi Fuchiwaki Establishment: August 2013 Capital: 46,000,000 yen Website: https://syla-solar.jp/ About SYLA Technologies Co., Ltd. Headquartered in Tokyo, Japan, SYLA Technologies Co., Ltd. SYT ("SYLA" or "the Company") owns and operates the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, which targets individuals, corporate and institutional investors, as well as high net worth individuals. SYLA's mission is to democratize real estate investment around the world through technology and asset management through the Rimawari-kun platform. SYLA is engaged in the overall investment condominium business, including planning, development, construction, sales, rental management, building management, repair work, and the sale of properties. Additional information about the Company's products and services is available at https://syla-tech.jp/en. Loading... Loading... Contact Information Gateway Group, Inc. John Yi and Steven Shinmachi SYLA@gateway-grp.com Tel +1 (949) 574-3860 SYLA Technologies Company Contact: Hajime Sugino Head of SYLA USA h_sugino@syla.jp Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/039848a1-5a08-4dc1-94cb-3402a42d972b https://www.globenewswire.com/NewsRoom/AttachmentNg/ed9dcf48-0d0f-46d6-ba76-1043165a0b03 https://www.globenewswire.com/NewsRoom/AttachmentNg/2b44fc60-88f9-4a51-9b84-349ae7e02be9
The RealReal Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4) - RealReal (NASDAQ:REAL) 2024-03-04 21:01:00+00:00 - Loading... Loading... SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- The RealReal, Inc. REAL – the world's largest online marketplace for authenticated, resale luxury goods – today announced that it granted equity awards on March 4, 2024 as a material inducement to the employment of the company's newly-hired Chief People Officer, Chatelle Lynch, and Chief Marketing Officer, Sri Batchu. In connection with the appointment of Lynch as Chief People Officer on December 26, 2023 and Batchu as Chief Marketing Officer on February 26, 2024, The RealReal granted each of Lynch and Batchu an employment inducement award consisting of 650,000 restricted stock units ("RSUs"). The RSUs will vest 25% on the first anniversary of November 20, 2023, in the case of Lynch's award, and of February 20, 2024, in the case of Batchu's award, and in each case in 12 substantially equal quarterly installments thereafter, subject to the applicable executive's continuous employment on each vesting date. The inducement awards to Lynch and Batchu were granted as a material inducement to their employment and were approved by The RealReal's Board of Directors on February 20, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). The awards were granted outside The RealReal's equity incentive plans. For more information, visit Investor.TheRealReal.com. About The RealReal Inc. The RealReal is the world's largest online marketplace for authenticated, resale luxury goods, with more than 35 million members. With a rigorous authentication process overseen by experts, The RealReal provides a safe and reliable platform for consumers to buy and sell their luxury items. We have hundreds of in-house gemologists, horologists and brand authenticators who inspect thousands of items each day. As a sustainable company, we give new life to pieces by thousands of brands across numerous categories—including women's and men's fashion, fine jewelry and watches, art and home—in support of the circular economy. We make selling effortless with free virtual appointments, in-home pickup, drop-off and direct shipping. We handle all of the work for consignors, including authenticating, using AI and machine learning to determine optimal pricing, photographing and listing their items, as well as shipping and customer service. Investor Relations Contact: Caitlin Howe caitlin.howe@therealreal.com Press Contact: Laura Hogya laura.hogya@therealreal.com
OrthoPediatrics Corp. Launches New RESPONSE Rib and Pelvic Fixation System for EOS Scoliosis - OrthoPediatrics (NASDAQ:KIDS) 2024-03-04 21:01:00+00:00 - Loading... Loading... WARSAW, Ind., March 04, 2024 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. ("OrthoPediatrics" or the "Company") KIDS today announced it has launched a new RESPONSE™ Rib and Pelvic Fixation system to treat children with Early Onset Scoliosis ("EOS"). This represents the company's 71st system to treat orthopedic conditions in pediatric patients. This system represents OrthoPediatrics first solution to treat Early Onset Scoliosis patients, and specifically those associated with or at risk of Thoracic Insufficiency Syndrome. The new addition to the RESPONSE™ family includes implants and instruments for rib and pelvic fixation, and associated devices to connect the fixation points. The system also features a range of implant options, low profile implants, range of motion rib hooks, and locking options to keep implants in place. As an adjunct to the foundational RESPONSE™ Scoliosis System, the Rib and Pelvic system is compatible with 5.5/6.0 and 4.5/5.0 RESPONSE™ Systems, allowing surgeons to treat the entire spectrum of patients with scoliosis. Greg Odle, President of the OrthoPediatrics' Scoliosis Division echoed his excitement for the launch of this new system, saying "We are excited to enter the Early Onset Scoliosis treatment market with the RESPONSE™ Rib & Pelvic System. While this is our first treatment option in the EOS market, we continue to work with pediatric orthopedic surgeons to develop additional treatment options for EOS patients." About OrthoPediatrics Corp. Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 71 products that serve three of the largest categories within the pediatric orthopedic market. This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics' global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and over 70 countries outside the United States. For more information, please visit www.orthopediatrics.com. Investor Contact Philip Trip Taylor Gilmartin Group philip@gilmartinir.com 415-937-5406
There's no fiscal 'bazooka' that China can aim at all of its economic troubles, Citi strategist says 2024-03-04 20:53:42+00:00 - There isn't a fiscal bazooka that can be aimed at all of China's economic issues, a Citi strategist says. The idea that China's government will be able to steer the economy towards prosperity is an assumption that needs to be revised. "We know that fiscal is the number one lever, but it's still very troubled waters for the Chinese economy." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement China's economic situation is far too anemic for a big fiscal spending package to save the day. "We haven't had any bazooka reaction by the government," Luis Costa said in a CNBC interview. "This is the crux of the issue here. Over the past 10 years we developed the sense that the Chinese government can steer the economy to prosperity." He added: "We have to revise that assumption now." To be sure, China has passed stimulus measures to prop up its sputtering economy, but historically, the policy is not popular among the top brass in Beijing, and President Xi Jinping has not been a big believer of doling out direct cash payments to people. Advertisement Either way, the government hasn't been able to fix the economic spiral so far. China is the only major world economy battling deflation, its property sector is still in the doldrums, and the country is hemorrhaging foreign capital. The CSI 300, a benchmark index for the Chinese stock market, has tanked 16% in the past year. This week, China will hold its annual "Two Sessions" parliamentary meeting where they will release the country's 2024 growth target and outline plans to revive the economy. For investors, the key agenda will be the fiscal policy outlook. "[Tuesday's] statements will be a lot more important than today's — a lot of scrutiny in terms of the fiscal targets," Citi's Costa said. "We know that fiscal is the number one lever, but it's still very troubled waters for the Chinese economy." Last month, Vice Finance Minister Wang Dongwei said public spending remains the main tool through which the government hopes to support its economy. Advertisement China's stock market capitalization hit a peak in 2021, Costa noted. It's down 35% since, shedding about $7 trillion in value. In the same timeframe, India's stock market capitalization has risen 60%, and the US stock market value has climbed as much as 22%. "Something structural happened there, and it's very difficult to fix," Costa said. Some experts have warned that a massive stimulus package could pave the way for China's "Lehman moment" by worsening some of the underlying issues causing problems for the economy.
Former Twitter Executives Sue Elon Musk for $128 Million 2024-03-04 20:48:22+00:00 - Four former Twitter executives sued Elon Musk on Monday, accusing the billionaire of withholding severance payments worth $128 million after he fired them from the company during his 2022 takeover. When Mr. Musk bought Twitter for $44 billion, he fired Parag Agrawal, its chief executive; Ned Segal, its chief financial officer; Vijaya Gadde, its head of legal and policy; and Sean Edgett, its general counsel. Mr. Musk later renamed the company X. The executives had clauses in their contracts stipulating that they could receive severance if Twitter was no longer a public company — so when Mr. Musk took the company private in October 2022, they were entitled to the payments, the lawsuit, filed in U.S. District Court for the Northern District of California, claims. The severance included one year’s salary plus unvested stock awards. Mr. Agrawal’s annual salary was $1 million, and he was awarded $12.5 million in stock that was scheduled to vest incrementally, according to his offer letter for the role. In the event of an involuntary termination, Mr. Agrawal was entitled to a so-called golden parachute payment of $60 million, according to a Twitter securities filing. Under those same circumstances, Mr. Segal would receive $46 million and Ms. Gadde $21 million, according to the filing.
DeSantis names Disney World admin to run elections in Democratic Orange County 2024-03-04 20:48:13+00:00 - ORLANDO, Fla. (AP) — Gov. Ron DeSantis has a new job for the man who has led Walt Disney World’s government since his allies took it over — elections supervisor in Orange County, long one of Florida’s most reliable sources of Democratic votes. Glen Gilzean was appointed Monday by the Republican governor to oversee the voting in Florida’s fifth largest county, where more than 1.4 million residents live among the largest theme park resorts in the U.S. Just last May, Gilzean was chosen to be administrator of the Central Florida Tourism Oversight Committee after DeSantis’ allies took over the Disney World governing district. Gilzean previously served as a DeSantis appointee on the Florida Commission on Ethics and was president and CEO of Central Florida Urban League. The county’s longtime elections supervisor Bill Cowles retired in January, about a year before his term was up. Cowles, a Democrat, was first elected in 1996 to the job, which oversees elections in Orlando and surrounding communities. Neither Gilzean nor a spokesman for the Central Florida Tourism Oversight District responded to email inquiries on Monday. As the district’s administrator, Gilzean had an annual salary of $400,000. He’ll earn around half that as elections supervisor. Gilzean’s new appointment comes at a time of turmoil for the district, which has seen an exodus of experienced staffers since the takeover and multiple litigation. The district provides municipal services such as firefighting, planning and mosquito control, among other things. A fight between DeSantis and Disney began in 2022 after the company, facing significant pressure internally and externally, publicly opposed a state law which critics have called “Don’t Say Gay.” The 2022 law bans classroom lessons on sexual orientation and gender identity in early grades and was championed by DeSantis, who used Disney as a punching bag in speeches until he suspended his presidential campaign this year. As punishment, DeSantis took over the district through legislation passed by the Republican-controlled Florida Legislature and appointed a new board of supervisors, which named Gilzean as administrator. Disney sued DeSantis and his appointees, claiming the company’s free speech rights were violated for speaking out against the legislation. A federal judge dismissed that lawsuit in January. Disney has appealed. A separate lawsuit over who controls the district is still pending in state court in Orlando. ___ Follow Mike Schneider on X, formerly known as Twitter: @MikeSchneiderAP.
F.A.A. Audit Finds Quality-Control Lapses at Boeing and Spirit AeroSystems 2024-03-04 20:44:38.664000+00:00 - The Federal Aviation Administration said on Monday that a six-week audit of Boeing and one of it key suppliers, Spirit AeroSystems, found “multiple instances” in which the companies failed to comply with quality-control requirements. As part of the audit, which looked at production of the Boeing 737 Max, the F.A.A. said that it had “identified noncompliance issues in Boeing’s manufacturing process control, parts handling and storage, and product control.” The regulator did not publicly release further details. The F.A.A. initiated the audit after a door panel came off a 737 Max 9 jet while at about 16,000 feet in early January, raising new questions about quality-control practices at Boeing and Spirit, which makes the fuselage, or body, of the 737 Max. Boeing did not immediately comment. A spokesman for Spirit, Joe Buccino, said the company was reviewing the findings and was “in communication with Boeing and the F.A.A. on appropriate corrective actions.”
Norfolk Southern slams activist calling for CEO’s firing after train derailment 2024-03-04 20:43:00+00:00 - Norfolk Southern Corp. has slammed the activist investor calling for the firing of the railroad operator’s CEO after a derailment Saturday in eastern Pennsylvania involving three of the company’s trains. The National Transportation Safety Board is investigating a collision and derailment involving the company’s trains, the agency said on Saturday. The incident reportedly left train cars derailed along a riverbank in Lower Saucon township, outside of Bethlehem, Pa., although there were no injuries or hazardous-materials concerns, according to Norfolk Southern NSC, +0.65% . “Norfolk Southern crews and contractors remain at the derailment site,” the company said in a statement provided to MarketWatch Monday. “Site cleanup and track work resumed Sunday afternoon after the NTSB released the site back to us. We will continue to fully support the NTSB’s investigation. Norfolk Southern will learn from this incident as we constantly strive to improve safety.” Related: Norfolk Southern urges shareholders to reject activist investor’s takeover plan In early 2023, the derailment of a Norfolk Southern train in East Palestine, Ohio, thrust the issue of rail safety into the national spotlight. On Saturday, Ancora Holdings Group, which owns a large equity stake in Norfolk Southern, called for “the immediate termination” of Alan Shaw, the railroad operator’s CEO, following the most recent derailment. “An incident like this, which is drawing national news coverage and resulting in more embarrassment for the railroad, should put an end to the Board’s unsustainable efforts to save a tainted CEO with no long-term future,” Ancora said in a statement. Ancora recently launched a takeover bid for Norfolk Southern, which the railroad operator has urged its shareholders to reject. Related: One year after Norfolk Southern’s East Palestine derailment, rail safety is still in the spotlight On Monday, Norfolk Southern also hit back at the activist investor’s call to fire Shaw in the wake of the latest derailment. “We believe that a change in leadership at Norfolk Southern would be highly disruptive to our operations, our workers, and the North American supply chain,” the company said in a statement emailed to MarketWatch. “The pursuit of a reckless and short-sighted strategy would upend the execution of our balanced strategy that is providing safe service, enhancing productivity, and driving smart growth.” The company’s shares rose 1% Monday, outpacing the S&P 500 index’s gain SPX of 0.2%. On Monday, UBS upgraded Norfolk Southern to buy from neutral and also raised its price target to $302 from $238. “We are upgrading NSC to Buy from Neutral because we expect stronger performance in NSC’s merchandise network,” UBS analyst Thomas Wadewitz wrote in a note.
Puerto Rico’s power company holds a massive debt. A key hearing to restructure it has started 2024-03-04 20:42:52+00:00 - SAN JUAN, Puerto Rico (AP) — A key hearing over the future of Puerto Rico’s crumbling power company and its staggering $9 billion debt began Monday in federal court following years of acrimonious talks between the U.S. territory’s government and creditors seeking to recover their investments. The hearing, which is expected to last up to two weeks, will focus on a proposed debt-restructuring plan. It comes nearly seven years after Puerto Rico’s government filed for the biggest bankruptcy in U.S. municipal history after announcing it was unable to pay its more than $73 billion debt following decades of corruption, mismanagement and excessive borrowing. Scores of protesters gathered outside the courthouse before the hearing, decrying that power bills, already among the highest in a U.S. jurisdiction, would increase again if the plan is approved, leading to an even higher cost of living in the U.S. Carribean territory. “Every dollar we pay bondholders is a dollar that is not available for the energetic transformation that Puerto Rico urgently needs,” Juan Rosario, who previously represented consumers on the power company’s board, said before the hearing. The island of 3.2 million people is still struggling through chronic power outages more than six years after Hurricane Maria pummeled Puerto Rico as a powerful Category 4 storm, razing its electric grid. Officials have noted that aging infrastructure and lack of maintenance also is to blame, with Puerto Rico currently relying on generators from the federal government to help meet its energy needs. More than 800 people have objected to the debt-restructuring plan in a document that lawyers filed in court, and more protests are expected. The plan was crafted by a federal control board appointed by U.S. Congress to oversee Puerto Rico’s finances. In a meeting held days before the hearing, Robert Mujica, the board’s executive director, called the plan “fair and equitable.” “We believe it’s confirmable,” he said. That remains to be seen, with Judge Laura Taylor Swain on Monday hearing from an array of attorneys who have noted that the majority of creditors don’t approve of the plan. Swain also is scheduled to hear from Puerto Rican retirees, business owners and others on Tuesday. Previous debt-restructuring plans have been scrapped in recent years, further enflaming already bitter discussions between creditors and the government. The debt held by Puerto Rico’s Electric Power Authority is the largest of any of the island’s government agencies and the only one that hasn’t been restructured. Government officials have said that restructuring the debt is key to boosting Puerto Rico’s economy and attracting new investors.
AMD’s stock continues its march higher as AI cheers build 2024-03-04 20:39:00+00:00 - Advanced Micro Devices Inc.’s management projects it will generate upwards of $3.5 billion in revenue this year from graphics processing units for the data center. One Barclays analyst is feeling even more upbeat. Barclays’ Tom O’Malley expects AMD AMD, +1.34% will deliver about $4.5 billion in data-center GPU revenue this year, while raising the forecast for its associated MI300 artificial-intelligence chip “incrementally through the year.” Further, O’Malley thinks AMD’s revenue for the category will roughly double in 2025, to hit $9.2 billion. With that target in mind, he now forecasts $5.94 in adjusted 2025 earnings per share for AMD — up from a prior $5.49 estimate — and raises his price target on the stock to $235. AMD shares are up 2.9% in afternoon trading Monday, extending their sharp rally into a third session. The stock has gained more than 18% over the past three trading sessions, and the company crossed into $300 billion market-capitalization territory for the first time late last week. While O’Malley has an overweight rating on AMD’s stock, Bernstein’s Stacy Rasgon reiterated his market-perform stance in a Monday report following a recent meeting with members of AMD’s management team. The company’s chief technology officer “suggested that AMD has prioritized inference and believes they are at par with Nvidia on silicon while catching up on the software,” Rasgon said in a summary of the meeting. Inference occurs when AI systems make predictions based on inputs that are new to them. “Overall, we believe AMD still is playing catch up, but can at least articulate a strategy on how they want and plan to gain some share in the inference space,” Rasgon concluded. “The argument remains though as to whether AMD’s presence will be material, or more along the lines of a second source in an attempt to keep their larger peer honest,” in a reference to Nvidia Corp. NVDA, +3.60% Rasgon acknowledged that even if AMD were to wind up as merely a second source to Nvidia, that “could be considered enough for now.” Still, he kept his market-perform stance and $140 target price on AMD shares. See more: AMD is worth $300 billion for the first time. These stats show its dramatic rise. 25 of the best-performing stocks in the S&P 500 appear to be better values than they were a year ago. Nvidia is one of them.
MicroStrategy stock rises 24% — tops $1,300 for first time in 24 years as bitcoin soars 2024-03-04 20:30:00+00:00 - Shares of MicroStrategy Inc. soared toward a 24-year high on Monday, fueled by the recent rapid run up in bitcoin prices to near-record levels. A business-analytics software company at heart, investors have treated MicroStrategy’s stock MSTR, +23.59% as more of a digital-asset play, given that it has for years been building its bitcoin BTCUSD, -0.17% pile as its primary treasury asset. The stock shot up 24% in afternoon trading, to put it on track for the highest close since March 2000. It has rocketed 92% amid a six-day winning streak. That’s the longest winning streak since the 10-day stretch of gains that ended on Nov. 10, 2023, and the biggest six-day gain since it rose 100.6% over the six sessions ended Feb. 9, 2021, according to Dow Jones Market Data. The company’s market capitalization has swelled by $10.7 billion over the past six sessions to reach $22.4 billion on Monday. Last week, Benchmark analyst Mark Palmer became the biggest bull on MicroStrategy’s stock, after he initiated coverage on Feb. 27 with a buy rating and a $990 price target. The stock was already trading about 33% above that target. Palmer said his Wall Street-high target was based on his assumption that bitcoin will reach $125,000 at the end of 2025. Bitcoin was recently trading up 6.9% at $67,334 according to FactSet, just below its record of $68,990 reached a little more than two years ago. Bitcoin’s big rally — it has soared 60.4% year to date — comes after regulators approved several spot bitcoin exchange-traded funds, and ahead of the next “halving” that is expected to occur in April. In MicroStrategy’s latest update on its bitcoin holdings, the company said that it paid $155.4 million to acquire 3,000 bitcoins over the 10-day period ending Feb. 25, for an average price of $51,813 per bitcoin. At current bitcoin prices, the value of those acquired has already increased by roughly $46.6 million. The company said as of Feb. 25, it held a total of approximately 193,000 bitcoins, which were acquired for about $6.09 billion at an average price of $31,544 per bitcoin. At current prices, the holdings would be valued at about $13 billion. In MicroStrategy’s post-earnings call with analysts in early February, co-founder and Executive Chairman Michael Saylor said he believed 2024 is the “year of birth” of bitcoin as an institutional-grade asset class. “And so we’ve now completed the first 15 years of the bitcoin lifecycle. And in that first 15 years, it was largely [an] unregulated retail asset, misunderstood,” Saylor said, according to a FactSet transcript. “The next 15 years, I would expect, will be a regulated institutional, high-growth period of bitcoin.” Over the past year, the correlation coefficient between MicroStrategy’s stock and bitcoin has been 0.95, according to a MarketWatch calculation of FactSet data. A reading of 1.00 would mean they move perfectly in tandem. Meanwhile, the correlation between MicroStrategy’s stock and the SPDR S&P Software & Services ETF XSW, of which the stock is a component, has been 0.80.