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Elon Musk could potentially be approached to rescue TikTok. Here's an estimate of the financial implications.

2025-04-08 08:34:46 By Michael Jones

Chinese officials are said to have viewed the billionaire ally of Trump as a possible purchaser in order to circumvent a ban from the United States.

Elon Musk, the owner of X and founder of xAI, is a strong supporter of the upcoming presidential administration.

According to reports, China is contemplating reaching out to Elon Musk to serve as its savior, especially as the likelihood of TikTok facing a ban in the United States grows. This move could prove to be an expensive yet potentially beneficial strategy for Musk's own social media venture.

Although Chinese officials would prefer that TikTok remains entirely under owner ByteDance’s control, the U.S. Supreme Court on Friday hinted it would likely uphold the law enforcing the potential ban. It requires that TikTok’s U.S. operations be sold to a U.S. buyer by Jan. 19.

Bloomberg News, citing unnamed sources familiar with the matter, reports that Beijing has tossed Musk’s name in the ring as part of its contingency discussions, forecasting a scenario that could see TikTok run as part of Musk’s X. TikTok’s more than 170 million U.S. users could bolster X’s advertising efforts, while Musk’s xAI startup could use TikTok’s data to train its artificial intelligence.

According to Wedbush Securities analyst Dan Ives, a purchase would likely cost Musk between $40 billion and $50 billion. That price doesn’t include ByteDance’s algorithm for the video-sharing platform, which the company would likely refuse to give up.

"Ives noted in a Tuesday report that this move could greatly increase the worth of the Twitter/X platform, suggesting that Musk might seek external investments for what could be a lucrative acquisition. He also pointed out that rather than a full sale, this could lead to a collaborative partnership where Musk plays a key role in preventing a complete ban of TikTok in the United States."

Part of Musk’s appeal as a potential buyer is his close ties to President-elect Donald Trump and his upcoming administration. Musk spent more than $250 million supporting Trump’s election, has been given a task force taking aim at government inefficiency, and several of his allies have been tapped for new government jobs.

He has also showed some support for TikTok remaining available in the U.S. Last April, he said that a ban “would be contrary to freedom of speech and expression” and “not what America stands for.”

Trump, who first proposed a ban on TikTok in 2020 before announcing a sudden change of heart in March, could issue a 90-day pause on the ban if the Supreme Court approves it. He could also ask the Justice Department and attorney general not to enforce the TikTok ban.

Ives stated, "Considering the robust and expanding partnership between Trump and Musk, this development isn't entirely unexpected, as the Trump administration is exploring options in case the Supreme Court maintains the ban."

Besides Musk, few alternative potential partners have emerged, including a consortium that includes billionaire Frank McCourt and “Shark Tank” investor Kevin O’Leary. Last May, former U.S. Treasury Secretary Steven Mnuchin said he was interested in buying TikTok’s U.S. portion.

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BlackRock is anticipated to report impressive earnings, as Larry Fink's company pivots away from its previous focus on socially conscious investments.

2025-04-08 08:34:46

In case you missed it, BlackRock — indeed, that BlackRock — is shifting away from its progressive stance. Furthermore, it’s not facing any financial troubles, as On The Money has discovered. On Wednesday, just before the market opens, the largest money management firm in the world is set to announce its earnings for the fourth quarter as well as its financial results for the entire year. According to my contacts on Wall Street, both are expected to illustrate that their operations are operating at maximum capacity. Confluence doesn’t necessarily equate concurrence, of course. But it’s remarkably obvious that at a time when BlackRock has dialed back its overt progressive posturing — leaving, as the Post reported last week, a UN-sponsored group of environmental activists — its financial performance is soaring, at least according to the Wall Street buzz. One significant factor is that the backlash from conservative critics regarding its so-called ESG investing has diminished as the organization has distanced itself from being a fervent proponent of the woke investing approach. View pictures in App save up to 80% data. Larry Fink's BlackRock has exited a UN-backed coalition of environmental advocates, coinciding with the company's remarkable performance surge. Additional Insights from Charles Gasparino Treasurers in Red States continue to view BlackRock's CEO Larry Fink with a degree of skepticism, though that sentiment has softened recently. They have mostly ceased their harsh criticisms of him as a proponent of "woke" ideology. Additionally, many have refrained from withdrawing funds from the firm now that he has toned down his embrace of progressive initiatives. By shifting its emphasis away from political matters and concentrating more on business, BlackRock is experiencing significant growth. Its assets under management are projected to exceed $11.5 trillion, despite the fact that recent increases in interest rates may negatively impact its fixed income investments. Analysts believe that the company's earnings will remain robust despite the increasing interest rates, thanks to its diversified operations. While major asset managers are grappling with client pressure regarding fees and experiencing withdrawals, BlackRock managed to attract a significant influx of capital last year from various channels, including pension funds and individual investors, according to sources. View pictures in App save up to 80% data. The backlash from conservative critics regarding its alleged ESG investing has diminished as it has distanced itself from being a strong proponent of the progressive investment approach.  BlackRock is making significant strides in the cryptocurrency space. If you examine the rankings of the largest Bitcoin holders, you'll find that in a relatively brief timeframe, BlackRock — representing traditional finance — has positioned itself just below the legendary Satoshi Nakamoto and the prominent crypto exchange Binance. As of January, it possesses approximately 560,000 bitcoins valued at roughly $55 billion, making it the leading player in the Bitcoin market due to its highly sought-after Bitcoin ETF. According to sources, the inflows into the ETF have remained consistent, as will be highlighted in the upcoming earnings report. BlackRock chose not to provide a statement for this report due to its inability to offer pre-earnings forward guidance. However, my sources maintain that Fink is poised for a well-deserved triumph. Yes, I know, Fink says a lot of stuff — some of which has gotten him in trouble in his advocacy of Environmental Social Governance investing. The investment style, his critics alleged, channeled progressive politics on issues like energy conservation through the investment process. In recent years, he earned the ire of the both Red State GOP-run pension funds, and Republicans in Congress even as he won plaudits from the political left for using BlackRock’s investment might to enact social change. But with the growth of Red State populations and their pension funds, Fink’s ESG posturing was costly; assets declined around $1 trillion in 2022. I have a deeper understanding of Fink than his detractors do, and the portrayal of him as merely an admirer of Elizabeth Warren is completely inaccurate. View pictures in App save up to 80% data. Fink often shares a variety of opinions, some of which have led to controversy in his support for Environmental Social Governance (ESG) investing. Fink founded BlackRock three decades ago with no assets, and he didn't grow it to over $11.5 trillion through leftist ideologies. He is recognized as one of the top risk managers on Wall Street, a reputation earned through years of bond trading and valuable lessons learned from his setbacks, unlike many of his peers. This expertise is a key reason why, at 72 years old, he continues to thrive as CEO. I have indicated that he took significant risks regarding ESG due to financial motivations. He successfully secured a substantial amount of left-leaning pension investments in New York and California. However, as early as 2021, he recognized potential issues and began advocating for a shift towards sustainability, warning that without it, there would be a decline in oil drilling and an increase in inflation. Since then, he has been distancing himself from ESG, diminishing its focus in the management of non-ESG assets. As I revealed earlier, he abandoned a crucial UN-supported asset management organization last week that was committed to achieving net-zero carbon emissions by 2050. Here’s a fascinating tidbit: In conservative political circles, detractors of Fink often refer to him as “Mr. ESG.” Meanwhile, a fresh wave of younger investors has dubbed him “Mr. Bitcoin,” even though he previously labeled the cryptocurrency as an “indicator of money laundering.” View pictures in App save up to 80% data. Fink founded BlackRock three decades ago with no assets, and he didn't grow it to over $11.5 trillion through leftist ideologies. He acknowledged his error and introduced the Bitcoin ETF nearly a year ago in January 2024. Since then, it has risen by almost 125%. When you rise on Wednesday, I’ve heard that BlackRock will be showcasing its impressive performance. I'm sure Fink will be celebrating on financial television. He ought to, as it's no accident that when he and the company became less aware of social issues, they distanced themselves significantly from financial struggles.

Business

Generating enthusiasm? Major transformations are on the horizon for Walmart locations throughout NJ and PA.

2025-04-08 08:34:46

View pictures in App save up to 80% data. Attention shoppers: prepare for significant updates coming to Walmart locations throughout New Jersey and Pennsylvania. Walmart believes they hold a significant position in the market. To be frank, you might not share that same opinion. The chain announced on Monday that they are "excited to announce a comprehensive brand refresh that reflects its evolution as a people-led, tech-powered omnichannel retailer." What on earth does that signify? In simple terms, they are launching a new logo along with several additional features. To explore the changes they have in store, let's take a trip back to the 1990s — specifically, 1991, when Walmart launched its inaugural store in New Jersey, located in Turnersville, Gloucester County. Here's the logo they utilized during that time: It showcased large bold letters with a star (or occasionally a dash) at the center. About 20 years ago (holy cow, 2005 is 20 years ago!), they launched their softer-looking logo, with lower-case letters, and the star/hyphen was replaced with a more modern-looking one (more on that in a second)... View pictures in App save up to 80% data. Walmart located in Egg Harbor Township (view on Google 地图) As of yesterday, this is officially their new logo: If you believe it appears unchanged, you're not alone in that sentiment. It really seems like someone at Walmart splurged a significant amount just to switch the font from regular to bold. The star change is quite similar as well. By the way, regarding that yellow star emblem, it turns out it's not a star in the traditional sense. I discovered something interesting yesterday: it's referred to as "the spark." This spark "radiates the energy of Walmart and serves as a guiding light for customers navigating every aspect of the Walmart experience." Keep this in mind the next time you find yourself in line behind someone who’s shopping in their pajamas. View pictures in App save up to 80% data. Walmart located in Mays Landing, NJ - Image courtesy of Google 地图 Walmart has announced that their updated logo and branding will debut on their website later this month, with plans to gradually introduce the new look in stores throughout our region and nationwide. This rebranding effort will feature fresh vests for employees and, for loyal Walmart enthusiasts, a selection of new merchandise available for purchase. I may not be a marketing guru or a graphic design whiz, but let's face it -- that looks like an immense amount of effort for a modification that hardly anyone will even see. Will you really invest additional time and money at Walmart simply because their font and logo are undergoing a subtle change? Probably not. It's noteworthy that they continue to display their name on their buildings, in contrast to Target, which has opted to feature only their logo. View pictures in App save up to 80% data. Google 地图 By the way, Target boasts one of the most iconic logos in North America. A survey conducted in 2003 revealed that 96% of individuals are aware of what the bullseye symbolizes. Nonetheless, take into account these details from Walmart... Walmart employs approximately 2.1 million associates worldwide Their fiscal year 2024 revenue was $648 billion Globally, 255 million people shop at their stores or buy things from their website every week Given those kinds of figures, I guess you can pursue any endeavor you desire... Here’s the Meaning Behind Each Walmart Emergency Color Code Certain Walmart intercom codes utilize a color-coding system. Each color corresponds to a specific event or circumstance happening within the store. The importance of these color-coded alerts can vary from moderately serious events to potentially dangerous, life-threatening circumstances. It is essential for Walmart employees to grasp the meanings behind these codes. This knowledge enables them to quickly implement the necessary safety measures whenever the situation demands. It’s our hope that you’ll never encounter these codes being called out at Walmart. However, if you happen to hear them, you’ll be informed about their meanings and know how to respond appropriately.

Business

Concerned about finances? Recent research reveals that women and Gen Z are experiencing the highest levels of stress.

2025-04-08 08:34:46

Recent studies indicate that although one in three Americans regularly lives paycheck to paycheck, women and Generation Z, specifically individuals aged 18 to 28, are facing the highest levels of financial stress at this time. Stagnant wages, increasing student loan debt, and the gender wage gap all contribute to financial generational divides, a Credit One Bank survey of 1,000 American adults released Tuesday found. Recent studies have shown that under 10% of Americans received any education on personal finance during their schooling years. However, it appears that younger generations are more inclined to have discussions about money with their parents compared to Generation X individuals, who are currently between the ages of 45 and 60, as well as Baby Boomers aged 61 to 79. Nevertheless, Credit One Bank found that over half of Generation Z steps into adulthood without any formal training in financial literacy. “In a statement, Credit One Bank's Chief Credit Officer Steve Min highlighted, ‘This survey uncovers a significant connection between increasing concerns over personal finance and the insufficient level of fundamental financial education throughout various generations. This information aids us in gaining insights into the broader consumer demographic and how we can enhance our efforts to provide improved financial education.’” View pictures in App save up to 80% data. At what age or stage did each generation start managing their own financial responsibilities? The survey found the same amount of Baby Boomers and Generation Z - 89% - began managing their own bills before age 24. However, a stark difference exists between how the two groups learned about personal finance. Almost half of Baby Boomers reported that they taught themselves in comparison to only 11% of Generation Z, a majority of whom said their parents taught them. Within Generation X, 87% began taking charge of their finances before reaching 24 years old. In contrast, Millennials, those aged 29 to 44, tended to take financial control a bit later; 79% reported managing their bills by age 24, while another 15% did so by age 30. The survey revealed that roughly half of both Generation X and Millennials attributed their knowledge of personal finance to lessons learned from their parents or family members. Different generations hold varying opinions on the concept of debt and its perceived normalcy. About one in three Americans across generations reported they have a "significant" fear of debt, but half of Generation X participants said it was "a normal part of life." This marks a significant rise compared to the 35% of Baby Boomers who reported perceiving debt as a normal part of life based on their familial experiences during childhood. Just after Generation X, 48% of Millennials indicated that they consider debt to be a typical aspect of life. Generation Z participants deviated from the pattern, showing a greater alignment with Baby Boomers' views. Just 39% of the youngest demographic surveyed indicated that they perceive debt as a typical aspect of life. How does financial stress vary across different generations? Each generation agreed their top barrier to financial stability is the high cost of living in the United States, which can contribute to stress. Over different generations, 48% of women indicated experiencing stress and anxiety regarding their financial situation, compared to 38% of men. The findings from the survey imply that this disparity may stem from the fact that women generally earn lower wages than men. It was noted that "households where women are the main income providers possess only 55 cents of wealth for every dollar found in households with male earners." According to the survey, 59% of Generation Z, the highest percentage among all generations, indicated that they experience stress and anxiety. In contrast, Generation X emerged as the group with the least confidence in their financial situation. Meanwhile, just over half of Millennials expressed financial-related stress and anxiety, whereas only 29% of Baby Boomers reported similar feelings.

Business

'Complete villain mode': Analyst criticizes alarming new misconduct by health insurance companies

2025-04-08 08:34:46

View pictures in App save up to 80% data. Physician meeting with a patient (Shutterstock) The Affordable Care Act reined in many of the worst abuses of the health insurance industry, like denying people for pre-existing conditions or for meeting a lifetime coverage maximum — but it remains an industry where patients can be denied critical care for nonsensical reasons — and horror stories continue to abound, Arwa Mahdawi wrote for The Guardian. The issue has sprung into national prominence following the murder of UnitedHealthcare CEO Brian Thompson and the arrest of Luigi Mangione for the crime. Many took to the internet to apparently root for the killer, with polling showing some 40 percent of young Americans found the shooting "acceptable" and 7 in 10 Americans believe insurance company greed played a role. While murder isn't justified, wrote Mahdawi, what does seem to be true is that "insurers seem to have gone into full-on villain mode; just when you think you can’t hear anything worse about the insurance industry, a new horror story comes out. There’s been an uptick in stories about insurers limiting coverage of prosthetic limbs and questioning their medical necessity, for example. Mr Beast, an influencer with 343 million subscribers on YouTube, recently railed against the healthcare industry in a new video where he helped 2,000 amputees walk again." In one of the wildest stories to hit national news, UnitedHealthcare recently forced a breast cancer surgeon to scrub out in the middle of an operation to interrogate her on whether the procedure was actually needed — because the different departments at the insurance company hadn't communicated with each other that the patient had breast cancer. Mahdawi pointed out that although Mangione is likely to face punishment for his alleged crime — and rightly so — "He ought to have realized that if he intended to kill someone and evade consequences, there were much more socially acceptable methods to achieve that." For example, she wrote, he could have taken "a well-paid job as a management consultant and helped supercharge the country’s opioid epidemic; chances are he would have faced little more than a slap on the wrist. He could have gone to Gaza and shot some Palestinian children in the head – in which case, not only would he probably face no consequences whatsoever, U.S. lawmakers would probably go out of their way to shield him from accountability. And, of course, Mangione could have gone into the health insurance industry himself, and routinely denied life-saving care to desperate people in order to boost profits." "That type of violence is perfectly fine," she added.

Business

Mark Zuckerberg is set to co-host a reception alongside Republican billionaires for the inauguration of Trump.

2025-04-08 08:34:46

华盛顿（美联社）——Meta首席执行官马克·扎克伯格下周将与亿万富翁共和党捐赠者共同主办唐纳德·特朗普的就职典礼接待会。这是扎克伯格对当选总统的支持最新迹象。接待会定于周一晚上举行，恰好在就职舞会之前。根据两位知情人士的透露，他们在与美联社交流时要求匿名以讨论私人计划。其他共同主办者包括达拉斯小牛队老板、已故赌场大亨谢尔登·阿德尔森的遗孀米里亚姆·阿德尔森；休斯顿火箭队老板、赌场大亨蒂尔曼·费尔蒂塔，以及特朗普提名担任美国驻意大利大使的候选人；芝加哥小熊队的共同拥有者托德·里基茨和里基茨的妻子西尔维·莱热尔。

Business

Massachusetts Shopping Center Set to Say Goodbye to Beloved Department Store, But There's a Catch

2025-04-08 08:34:46

View pictures in App save up to 80% data. Jesse Stewart Massachusetts has witnessed a number of retailers shutting down their locations as companies strive to stay afloat. In certain instances, a business may be facing such significant challenges that it ultimately has to cease operations. While some retailers, such as Stop and Shop and Big Lots, continue to thrive, others, like Bed Bath and Beyond, have fully closed their doors for good. This Spring, a Massachusetts mall is set to bid farewell to a discount department store, but there's a silver lining to the news. Recent reports from multiple media outlets indicate that the Holyoke Mall will be saying goodbye to another store this spring, but with an interesting twist. Burlington, a well-known off-price department store chain and a part of Burlington Coat Factory Warehouse Corporation, is set to vacate its current location in the Holyoke Mall. However, instead of shutting down, the retailer will be moving to a larger space just down the street in the former Bed, Bath and Beyond location at 39 Holyoke Street. Wow! Burlington takes pride in helping customers discover fantastic bargains across various categories, including activewear, women's fashion, juniors, plus sizes, children's clothing, men's apparel, outerwear, beauty products, footwear, accessories, baby items, and home decor. The store also features clearance items and products available for under $10. Burlington's catchy slogan is 'Deals. Brands. Wow!' The Move to the New Massachusetts Store is Approaching!  An exact date of the relocation hasn't been released at this point but the move will occur this spring. Once a date gets firmed up we will pass the word along. In addition to Holyoke, Burlington has stores in Worcester, Springfield, and 23 other locations in Massachusetts. CHECK IT OUT: Legendary products launched in the year of your birth American history can often be remembered through our consumer habits. That's why Stacker ranked the iconic products released from the year you were born, starting in 1919. From Slurpees to iPods, this list is a pop culture-infused trip down memory lane. Gallery Attribution: Stacker CHECK IT OUT: 20 Creative Ways to Repurpose Empty Big-Box Retail Spaces The closure of a big-box store can have a profound impact on the surrounding community and its economy. Many times, the focus has transitioned from conventional retail to more experiential ventures. Here, we will delve into 20 creative businesses and services that can thrive in these flexible environments. Gallery Attribution: Stephen Lenz CHECK IT OUT: Which of These 1980s Items Do You Recall? Get ready to take a trip down memory lane as we explore a collection of legendary '80s gems that defined a decade filled with bold fashion and memorable pop culture highlights. Gallery Attribution: Stephen Lenz

Business

Man left stunned when his employer attempts to bill him $12,000 for submitting his resignation.

2025-04-08 08:34:46

They opted to depart from the company in question after spending fewer than six months there. View pictures in App save up to 80% data. A man was taken aback when he received a substantial bill from his employer following his resignation. Probationary periods may vary from 90 days to six months, depending on the organization. Most companies typically have a system in place to assess the performance of new hires; if the employee is underperforming, they can terminate their employment with relative ease. But some people might find that they wanted to leave the job before their probation is up — a situation that one Redditor recently experienced. View pictures in App save up to 80% data. A man revealed that he has recently stepped down from his position at work (Getty Stock Images) Usually, when someone leaves a job, you might get a leaving card and a box of chocolates from your peers, but this guy was slapped with £10,000 bill (around $12,000) instead. Turning to Reddit to share his experience, the individual wrote: "I've been employed with my company for nearly 6 months now, and my probationary period is set for 6 months." "Yesterday, I submitted my resignation with a week's notice, and this morning I received a call from the company informing me that if I proceed with my departure, they will impose a £10,000 charge for the training fees I incurred. I have been trained and certified in accounting software as part of my job here. They also mentioned that if I choose to stay, I would be granted a £5,000 salary increase." View pictures in App save up to 80% data. The Reddit user outlined the specific terms included in his agreement (Getty Stock Images) He went on to share the details of his contract which said he's liable to pay £10,000 spent on training fees if his employment at the business ends. An added clause states: "Should the Employee terminate their employment with the Employer, they are required to repay the Course Fees to the Employer." In essence, if the company invests £10,000 in training fees for an employee and that employee decides to leave within 24 months of finishing the certification (or during the process), they are required to reimburse the company for that amount. He wondered whether his company had the legal right to proceed with this, and to cut a long story short – it does. ACAS' website explains: "Employers might be able to deduct money from final wages for training courses. This can only happen if the deduction was agreed in the contract or in writing beforehand." Echoing similar sentiments, Employment Law Advice says, as per UK law: "In order to claim back training costs, you need to have the employee’s prior written consent. This can be in the form of a clause in their contract of employment or in a separate training costs agreement that is entered into before the training commences. "The contract usually stipulates that the employee must reimburse the expenses incurred for any training program funded by the employer if they terminate their employment within a specified timeframe after finishing the course." The lesson here? Always take the time to thoroughly review the terms and conditions of your employment contracts, everyone.

Business

Mother Upset After Neighbor Compares Her Newborn to 'Mini Jeff Bezos'

2025-04-08 08:34:46

View pictures in App save up to 80% data. iStock / Michael M. Santiago, Getty Images图库 A woman on Reddit says she seriously offended her neighbor by telling the new mom that her baby looks like a certain Amazon billionaire. "My neighbor just welcomed a baby, and everyone couldn't stop gushing about how adorable he is. I playfully remarked, 'He sort of resembles a miniature Jeff Bezos,'" the woman recounted. It seems that it wasn't received as a flattering remark. "She became upset and accused me of being disrespectful. But honestly... he's bald, he has this intense demeanor, and I genuinely believe he's scheming to take over the world," the woman went on. "She insisted that I should never compare her baby to a billionaire again. I nodded in agreement… but honestly, wouldn’t comparing it to Elon Musk be even worse?" the woman humorously wrapped up her post. Several commenters expressed their amusement at the story, claiming that the mother was being too touchy about the situation. "One reader remarked, 'It’s not your fault that Jeff Bezos resembles a giant baby; that’s just how things are.'" "Honestly, not all babies are cute, and we should stop pretending otherwise for the sake of new moms, haha," another person commented. "It's just a lighthearted joke, and the mother is likely still feeling tired and stressed after giving birth. However, it might be wise to gauge the atmosphere next time, especially if you're unsure about the mother's sense of humor," another person suggested. Some people believed that the woman was at fault and ought to have acted more wisely. "Is that really the best you could come up with? Instead of saying something like, 'Those cheeks are adorable!' or 'I wonder how tall he’ll grow up to be?' or 'Look at those big, beautiful eyes!' you went straight for the most rude and childish remark? Comparing a newborn to a bald, middle-aged egomaniac? Really?" one user remarked. "Growing up comes with the understanding that sometimes silence is golden. This was definitely one of those moments," another person chimed in. "Watch your words when talking about children in front of their mothers. A mother's instinct is fierce when it comes to protecting her little ones, and trust me, they won’t hesitate to fight back. That said, I have to admit, all newborns do have that uncanny resemblance to elderly gentlemen, so I found your comment quite amusing," another person chimed in. 25 Real Crime Sites: How Do They Appear Now? Discover the sites of 25 of the most notorious crimes in history, along with their current uses today (if they still exist).

Business

The George H.P. Smith Fund is set to provide multi-year scholarships starting in 2025.

2025-04-08 08:34:46

View pictures in App save up to 80% data. View pictures in App save up to 80% data. The George H.P. Smith Scholarship Fund, created in 2010 to commemorate the contributions of the former mayor of Lewes and educator, will start providing renewable scholarships to seniors at Cape Henlopen High School beginning this year. LEWES Del.- The George H.P. Smith Scholarship Fund, created in 2010 to commemorate the contributions of the former mayor of Lewes and educator, will start providing renewable scholarships to seniors at Cape Henlopen High School beginning this year. View pictures in App save up to 80% data. The George H.P. Smith Scholarship Fund, created in 2010 to commemorate the contributions of the former mayor of Lewes and educator, will start providing renewable scholarships to seniors at Cape Henlopen High School beginning this year. (Horizon Philanthropic Services) In the last 15 years, the fund has distributed almost $90,000 to 134 students, assisting with college-related costs like textbooks, fees, and travel expenses. Starting in 2025, chosen students will be eligible for $1,500 scholarships, which can be renewed each year for a maximum of four years. Cape Henlopen High School counselors will oversee the application and selection process.  Donations to the fund can be made through the Greater Lewes Foundation website.

Business

The comics distributor Diamond is seeking bankruptcy protection.

2025-04-08 08:34:46

The largest distributor of English language comics in the world is divesting its assets and reducing the scale of its operations in a bid to stay afloat. Please share this narrative. View pictures in App save up to 80% data. Stephanie Gonzaga / Boom! Studios Diamond Comics Distributors, a major player in the distribution of graphic novels to brick-and-mortar stores, is seeking bankruptcy protection and reducing its operations as the industry prepares for a fresh set of economic difficulties. In a letter sent to comics retailers and publishers today, Diamond president Chuck Parker announced that the company has filed for Chapter 11 Bankruptcy and plans to sell off its Alliance Game Distributors arm to Universal in order to “protect the most vital aspects of our business.” Parker stated, “This choice was not taken without serious consideration, and I realize that hearing this news may be just as hard for you as it is for me to convey it. The Diamond leadership team and I have put in a tremendous effort to prevent this situation, but the financial difficulties we are encountering have left us with no alternative.” Founded in 1982 by Stephen A. Geppi (who still serves as CEO), Diamond became a heavyweight in the comics business by securing a number of exclusive distribution agreements with various publishing houses like DC, Marvel, and Image. For decades, Diamond — which also publishes its Previews magazine showcasing upcoming titles — was instrumental in bringing comics to market and played a huge role in determining a book’s success because of how Previews influenced retailer orders. News about Diamond’s bankruptcy comes weeks after the company suddenly shuttered its flagship fulfillment center in Plattsburgh, NY, which the company’s VP of retailer services Chris Powell described as a necessary step to address longstanding operational issues that made its distribution process unsustainable. “Preferably, we would have developed and tested changes while maintaining our usual operations at Plattsburgh,” Powell stated. “Since that is no longer feasible, we are required to implement changes and trial them using real data and shipments, all while aiming to reduce the effect on retailers.” In recent years, many of Diamond’s bigger name publishing partners have dropped them as the company failed to meet expected delivery deadlines to retailers, which left stores struggling to meet customer demand. Given the tough time Diamond has been having as of late, the announcement that it’s filing for bankruptcy isn’t entirely surprising. It sounds like the company’s leadership very much wants to stay in the comics game as long as possible, but as it stands now, it seems like all Diamond can really do is to staunch the bleeding as much as it can.