Nicholas Olsen
Retired from Apple Inc.
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Dat grift doe:"The $13 billion that Elon Musk borrowed to buy Twitter has turned into the worst merger-finance deal for banks since the 2008-09 financial crisis.The seven banks involved in the deal, including Morgan Stanley and Bank of America, lent the money to the billionaire’s holding company to take the social-media platform, now named X, private in October 2022. Banks that provide loans for takeovers generally sell the debt quickly to other investors to get it off their balance sheets, making money on fees.The banks haven’t been able to offload the debt without incurring major losses—largely because of X’s weak financial performance—leaving the loans stuck on their balance sheets, or “hung” in industry jargon. The resulting write-downs have hobbled the banks’ loan books and, in one case, was a factor that crimped compensation for a bank’s merger department, according to people involved with the deal.The value of the loans to Musk quickly soured after the $44 billion acquisition was completed. But new analysis shows how their persistent underperformance has put the deal in historic territory."
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Alex Sramek
Technical Communicator
6h
I was kinda aghast when reputable financial institutions were extending capital on this one. It seemed like such an obviously bad transaction.
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Nicholas Olsen
Retired from Apple Inc.
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Disney abandons Disney+ arbitration defense in restaurant allergy death case arstechnica.comSuuuuuuuuurrre you do:""At Disney, we strive to put humanity above all other considerations," Disney Experiences Chairman Josh D'Amaro said in a statement provided to Ars today. "With such unique circ*mstances as the ones in this case, we believe this situation warrants a sensitive approach to expedite a resolution for the family who have experienced such a painful loss. As such, we've decided to waive our right to arbitration and have the matter proceed in court.""
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Nicholas Olsen
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Anglia Ruskin study shows arts and crafts boost mental wellbeing bbc.comI wonder if this is why so many in Silicon Valley are desperate to wrest creativity from humanity:"Dr Keyes, who heads the ARU's school of psychology and sports science, said: "Not only does crafting give us a sense of achievement, it is also a meaningful route to self-expression. This is not always the case with employment."...The university said people who took part in arts and crafts reported higher levels of happiness and life satisfaction, as well as a stronger sense that life was worthwhile.The boost to respondents' sense that life was worthwhile was as significant as being in employment, ARU added.Dr Keyes said: "The wellbeing effects were present even after we accounted for things like employment status and level of deprivation. It seems that crafting can contribute positively to your wellbeing above and beyond these other aspects of your life.""
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Nicholas Olsen
Retired from Apple Inc.
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MOAR.
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Nicholas Olsen
Retired from Apple Inc.
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"In March, Tennessee governor Bill Lee signed into law theEnsuring Likeness, Voice, and Image Security (ELVIS) Act, the first legislation of its kind to protect the property rights of artists’ voices, in addition to their names and likenesses. The new law adds “voice” as a protectable and inheritable asset. But the law covers a large swath of one’s likeness. It states: "Any person who knowingly uses or infringes upon the use of an individual's name, photograph, voice, or likeness in any medium, in any manner directed to any person other than such individual, for purposes of advertising products, merchandise, goods, or services, or for purposes of fundraising, solicitation of donations, purchases of products, merchandise, goods, or services, without such individual's prior consent, or, in the case of a minor, the prior consent of such minor's parent or legal guardian, or in the case of a deceased individual, the consent of the executor or administrator, heirs, or devisees of such deceased individual, is liable to a civil action.""
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