• Lordstown Motors CEO and CFO have resigned

    ... Amid shortselling investigation, but having more to do perhaps with the company saying they had 'substantial doubt' they could continue next year. Shares were down 10%.

     
  • Lots of talk about billionaires not paying taxes

    No one knows how the journalists at ProPublica got hold of tax records for several years for some of the richest Americans.

    Bezos, Musk, Soros, Buffet, etc., paid what appear to be small dollar figures in income tax for certain years (some years $0, some years around $70k were the most quoted figures, dating back to the year 2011). This is because they don't generally make income (particularly when you're talking about each year). Instead, they hold assets. Their largest asset is generally company stock, which is only taxed if it is sold (capital gains). Some years, they need to raise cash and so they take loans against their assets. This is not taxable.

     
  • US Republicans very much enjoying Kamala Harris' not visiting the US/Mexico border

    They're counting the days (now about 80) since she's held a news conference on the immigration issue.

    She's been down in Guatemala, tasked with addressing the root cause of the immigration crisis.

    According to Ted Cruz in a recent criticism of the Biden government, the US is seeing the highest rate of illegal immigration in 20 years.

     
  • Most disruptive infrastructure attack ever on U.S. soil

    Apparently. Colonial Pipeline hack. This pipeline sends a lot of the oil from Texas to New Jersey, from where it's distributed to other places. Hackers gained control of Colonial's system and are doing a ransomware action. Colonial took their all their operations offline because they didn't want the hackers to gain access to the IT that controls the pipes. They're currently handling some segments of the pipelines manually.

    We don't know too many details because Colonial hasn't given them to the DHS, reportedly.

    Some gas stations have run dry. Price of gas has already gone up 7 cents in the week, following the regular demand-supply equation. There's been panic buying and long queues, and the airline industry has been affected. Flights have been stopped and they've additional stops in order for planes to fuel up.

    The pipelines serve 90 U.S. military installations and 26 oil refineries, so the ripple effects are still to be seen.

    FBI is saying the hacker is Darkside from Russia, who usually works on big money ransom projects. They have a published list of things they won't hack, and don't seem to want to hurt normal people, although in this case gas prices effects everyone.

    A massive effort is expected to get things running again about a week after the problem started, involving the FBI and other government agencies and a task force assembled by the White House. But it depends whether they can resolve the ransomware situation.

    In recent years, the U.S. has scaled up its oil production and became a net exporter, but is now looking at returning to being an importer of oil.

     
  • There's talk about making Puerto Rico the 51st US state
     
  • Convicts in private prisons serve 90 days longer than public prisons

    This is about 5% longer.

    In private prisons, the company's contract has it that they are payed a per diem for each occupied bed.

    "The delayed release erodes half of the cost savings offered by private contracting and is linked to the greater likelihood of conduct violations in private prisons. The additional days served do not lead to apparent changes in inmate recidivism," according to the author.*

    Mukherjee, Anita. "Impacts of Private Prison Contracting on Inmate Time Served and Recidivism."

     
  • 400 people moving to Dallas every day

    Other hot real estate markets right now include Phoenix, Austin, and Atlanta.

    Line up to buy and buy as soon you can, with prices for new homes less than for old homes for the first time in 15 years due to inflated building costs (lumber notably up 400% this year), although different from 15 years ago buyers are actually qualified to buy.

     

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