U.S. strikes nearer to clearing Moderna and J&J Covid booster photographs this week

Anjali Sundararaman, a student nurse at San Francisco State University, gives Cuixia Xu a dose of Moderna-COVID during a vaccination clinic at the Southeast Health Center in the Bayview-Hunters Point neighborhood of San Francisco, Calif. On Monday, February 24 19 vaccine. 8, 2021.

Stephen Lam | San Francisco Chronicle | Hearst Newspapers via Getty Images

Millions of Americans will be one step closer to getting a Covid-19 booster shot this week when a key Food and Drug Administration advisory panel meets on Thursday and Friday to discuss additional doses of the drug Modern and Johnson & Johnson Vaccinations.

The FDA’s Advisory Committee on Vaccines and Related Biological Products meets less than a month after US regulators authorized Covid booster recordings from Pfizer and BioNTechs Vaccine for a wide variety of Americans, including the elderly, adults with pre-existing conditions, and those who work or live in high-risk environments such as health and food workers.

More than 7 million Americans in the US received a booster dose as of Saturday, according to the latest data from the CDC.

Members on independent committees of the FDA and the Centers for Disease Control and Prevention said at the time they were frustrated that Pfizer recipients only entitled to get the extra shots, leaving out millions of Americans who got Moderna or J & J’s shots.

The FDA advisory group is due to discuss data on the safety and effectiveness of a Moderna booster in adults on Thursday. On Friday, the committee is expected to discuss J&J booster vaccinations for adults. The FDA could make a final decision within days of the meetings and pass it on to the CDC and its Vaccine Advisory Committee to make their own decision.

The CDC’s next vaccine advisory meeting is scheduled for October 20 through October 21, where the boosters are expected to be discussed.

The FDA meeting is based on the average daily Covid cases in the US fell below 100,000 last week more than 56% of the population are fully immunized against the virus and the pandemic is showing signs of easing. Getting vaccinated, getting booster shots, and avoiding large gatherings are crucial ways to mitigate a possible surge in cases over the holidays, according to health experts.

The Biden administration hopes that empowering the U.S. population will continue to provide long-term and lasting protection from serious illness, hospitalization, and death as the fast-paced Delta variant spreads.

The exposure led to an increase in hospital admissions in the US, mainly among the unvaccinated. Still, some vaccinated Americans have suffered what are known as breakthrough infections, and just over 19,000 of them – less than 1% – were hospitalized or died of Covid on Sept. 20, according to the CDC.

“Even with Delta, the current vaccines hold up reasonably well in terms of hospitalization and major illness,” said Norman Baylor, former director of the FDA’s vaccines office. “It’s the infections that seem to be a problem.”

Last month, Moderna said a third syringe at half the dose used for the first two injections was safe and produced a stronger immune response than that seen after the second dose in its phase III clinical trial .

J&J said last month that a second dose of its single vaccine was safe and increased protection against symptomatic infections from about 70% to 94% when given two months after the first dose in the US.

The FDA could approve Moderna and J&J booster syringes under the same criteria as Pfizer, or maybe change course and increase the number of Americans eligible for additional syringes, Baylor said in a telephone interview.

“The question is: does everyone need a booster now?” said Baylor, now president of the Biologics Consulting Group.

Committee members need to discuss whether it is safe and effective for J&J recipients to receive a second dose, Baylor said. He added that he did not expect any difficulty in getting third-dose approval of Moderna’s vaccine because it uses mRNA technology that was also used to develop Pfizer’s vaccines.

“If I was in my old position with the FDA, I probably wouldn’t have put Moderna on the advisory board because it’s in the same class as Pfizer,” he said.

Government communication on Pfizer booster vaccinations is already confusing and “very harmful” to public perception, said Dr. Isaac Bogoch, an infectious disease specialist at the University of Toronto.

“From the outside it looks a bit free for everyone,” said Bogoch. “Yeah, yeah, there are some loose guidelines in the United States. But basically it looks like anyone could go to any pharmacy and get a booster shot and say you know what I smoke or I’m obese or.” I work in healthcare. “

Tesla strikes headquarters from California to Texas

Tesla its headquarters are moving from Palo Alto, California to Austin, Texas, CEO Elon Musk announced at the company’s shareholders’ meeting on Thursday.

The meeting took place at Tesla’s vehicle assembly plant under construction outside Austin on property bordering the Colorado River near the city’s airport.

However, the company plans to ramp up production at its California facility regardless of the headquarters move.

“To be clear, we will continue to expand our operations in California,” said Musk. “Our intention is to increase production at Fremont and Giga Nevada by 50%. If you go to our Fremont facility, it will be blocked.”

But he added, “It’s hard for people to afford houses, and people have to come from far … There’s a limit to how big you can scale in the Bay Area.”

Musk’s growing dissatisfaction with California has been evident for some time. In April 2020, on a Tesla winning call, Musk hit California government officials who described their temporary health orders related to Covid as “fascist”.

Later, Muski moved personally to the Austin area of ​​Los Angeles, where he had lived for two decades.

This has enabled Musk, who is also the CEO of aerospace company SpaceX, to reduce his personal tax burden and be closer to a SpaceX launch site in Boca Chica, Texas.

Tesla’s board of directors granted Musk an executive compensation package that can earn him massive stock bonuses due to the automaker’s increase in market capitalization and a few other financial goals. If he sells options that expire in 2021, he could make more than $ 20 billion in revenue this year, according to InsiderScore.

California levies some of the highest personal income taxes in the country on its wealthy residents, but Texas has no personal income tax.

Tesla isn’t the first company to move its headquarters from California to Texas. Oracle and Hewlett Packard, for example, are among the technology giants who took this step last year.

Texas is actively recruiting companies through its Texas Economic Development Act, which provides tax breaks, to help establish new facilities in the state. Austin attracts tech employers with a top tech university and cultural events like South by Southwest.

Such a move is not particularly stressful, said business lawyer Domenic Romano, managing partner of Romano Law in New York City. A Delaware corporation that, like Tesla, operated as a “foreign” corporation headquartered in California could relocate by setting up and hiring a facility in a new state. and relocating key employees.

They wouldn’t have to cease operations in other states, although they usually reduce them.

“From a legal perspective, there are fewer regulatory burdens in Texas,” said Romano. “It’s a more business and employer-friendly state in many ways. In Texas or Florida, as an employer, you have to overcome a lot fewer hurdles than in California in terms of reporting requirements and more.”

Texas Governor Greg Abbott said the Tesla CEO supported those of his state also “social policy”. However, Elon Musk declined to weigh Texas’s restrictive new abortion law after Abbott made that claim.

“In general, I believe that the government should seldom impose its will on the people while trying to maximize their cumulative happiness,” Musk wrote on Twitter at the time. “But I’d rather stay out of politics,” said Musk.

Tesla has generally received tremendous support from the State of California since its inception in 2003. It has grants, tax breaks, incentives, and favorable policies like the California Air Resources Board, and the California Energy Commission California Alternative Energy and Advanced Transportation Finance Authority, among other.

Harvard Enterprise College briefly strikes some MBA courses on-line to curb Covid outbreak

Harvard Business School

Brooks Kraft LLC | Corbis | Getty Images

Harvard Business School put all classroom MBA and some sophomore courses online this week and increased their numbers Covid-19 Testing requirements to curb the recent surge in groundbreaking cases on campus.

The Boston school is moving to distance learning by October 3 to try to quell the virus that primarily infects the university’s fully vaccinated students, according to the institution’s website. Around 95% of the students and 96% of the university staff are vaccinated. More than 1,000 students are enrolled at the Business School in the 2023 class.

“Contact tracers who have worked with positive cases highlight that the broadcast does not take place in classrooms or other academic settings on campus,” business school spokesman Mark Cautela said in a statement. “Nor does it occur with people who are masked.”

Cautela added that the university urges students to avoid unmasked indoor events, group travel, and meeting people outside their household.

The business school is also ordering Covid tests for all students three times a week, regardless of vaccination status, Cautela said. The university previously required fully vaccinated students to get tested once a week, while unvaccinated students had to submit test results twice a week.

Harvard students account for the majority of active Covid cases on campus, according to the school’s online coronavirus dashboard. The university conducted 41,864 Covid tests from September 20 to September 25 and found that graduate students accounted for 60 of the 74 positive test results recorded over those six days.

Harvard reports that 87 students are currently isolating after exposure to Covid while 28 students are in quarantine. Masks remain mandatory in all Harvard interiors.

Shares making the largest strikes noon: Pfizer, Moderna, Boeing, extra

A Boeing 737 MAX 10 airliner stops while taxiing on the airline.

Stephen Brashear | Getty Images

Check out the companies that are making the headlines in midday trading.

Boeing – Boeing shares rose 3.2% after Virgin Orbit, a satellite launch spin-off from Sir Richard Branson’s Virgin Galactic, announced that it will go public at a valuation of $ 3.7 billion. Boeing will invest in the deal’s private investment in a public equity round. Virgin Orbit partners with a special purpose vehicle NextGen Acquisition Corp. II, which was up 1.9% on its shares after the news.

Pfizer, BioNTech – Drug manufacturers’ stocks rose Monday after the Food and Drug Administration full consent given to the Pfizer and BioNTech Covid-19 vaccine – first in the US to receive the coveted award. Pfizer’s shares rose 2.5% and BioNTech rose 9.6%. Shares in Modern rose 7.6% in the hope that approval paves the way for own approval.

General Motors – The automaker’s shares ticked 1.3% lower after General Motors’ Recall of his electric car Chevy Bolt on Friday. It will include newer models, a move that will cost the automaker an additional $ 1 billion. The recall addresses an issue that can increase the risk of battery fire.

Occidental Petroleum, Devonian energy – Energy stocks rebounded Oil prices rose on Monday, with a seven-day losing streak, the longest in crude oil since 2019. Occidental Petroleum rose 6.9%, Devon Energy rose 6.1%. Diamondback energy 5.9% increased and Marathon oil 5.4% up.

Robin Hood Robinhood stock rose 6.2% despite Wall Street analysts pessimistic on newly listed brokerage stocks. Many Cover initiated by investment firms was rated neutral or equal by Robinhood on Monday, and the stock was even given a rare underweight to JPMorgan’s Kenneth Worthington.

Didi Global – Chinese ride-hailing app shares rose 3.4% despite Beijing’s investigation into the company. The Financial Times reported Didi could be forced to sell shares with special rights to the Chinese government and the company could be asked to cut commissions from drivers.

Tesla – Tesla shares rose 3.8% after Deutsche Bank reiterated its purchase rating at the electric vehicle manufacturer. The company said Tesla’s Artificial Intelligence Day last week set out a “bold vision” and analysts “came with greater appreciation for it Tesla ‘s efforts on AI. “

Abercrombie & Fitch The apparel retail stock rose 2.3% after Tesley confirmed its outperformance rating from Abercrombie & Fitch and expected “margin widening”. The company plans to publish the results this week.

– CNBC’s Maggie Fitzgerald and Yun Li contributed to the coverage

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ALDOT Strikes Highway Cash to Admin Fund | Information

The Alabama Department of Transportation recently withdrew $ 7 million from a street fund to cover administrative expenses for the last three months of the fiscal year.

The department said the move was legal and typically late in a fiscal year. The money comes from ALDOT’s public road and bridge fund, which is largely made up of gas tax revenue and federal fund revenue, but not the 2019 gas tax increase. This account, known as the Rebuild Alabama Fund, is allowed to do so expressly not diverted from road and bridge projects for other purposes.

Government agencies often transfer funds allocated by law between funds during a fiscal year as permitted by law. The measures must run through the Ministry of Finance.

Still, the decline in street funding and the surge in administrative funding, first reported on Monday by the Alabama Daily News, has paused some lawmakers.

Rep. Andrew Sorrell, R-Muscle Shoals, was one of the few lawmakers to vote against the 2019 gas tax increase, despite requirements in the bill that new revenue should not be “non-integrally” used for salaries and benefits, new equipment or construction A Rebuild Alabama Fund was also created to collect the new tax revenue.

“That sort of thing happens in government all the time,” said Sorrell on Monday. “They say, ‘Okay, we’re collecting this new school property tax and it’s only going to be used to build new schools.’ Okay, great. But then other money is released in another bank account that you don’t have to spend on a new school and you can do whatever you want with it. “

In June, ALDOT Commissioner John Cooper said in a letter to Governor Kay Ivey that the transfer was necessary because of an underestimation of the cost of the department’s general administrative program. This financing is based on estimates from previous years.

“Currently, the results of the underestimation require additional spending powers to perform administrative functions for the duration of the fiscal year,” he wrote.

The fiscal year ends on September 30th.

“It’s not uncommon for government agencies to get this type of approval late in a fiscal year,” ALDOT spokesman Tony Harris said Monday when asked by the Alabama Daily News. “This is about getting spending powers in a certain budget category, not a money transfer. ALDOT is one of at least seven government agencies that have found it necessary to shift spending powers from one budget category to another. The budgets for this fiscal year are based on two-year-old projections, so it is not uncommon for these changes to be made in the last quarter of a fiscal year. “

Senator Chris Elliott, R-Daphne, said Monday he wanted to know why ALDOT’s management fund needed extra cash to close the year.

“I am always concerned when money that could be used for infrastructure is used for overheads,” Elliott said.

“That’s why we expressly forbid this when we passed Rebuild Alabama (transfers away from road projects).”

The 2021 General Fund budget allocated $ 142.1 million to ALDOT’s General Administration Program and $ 1.3 billion to the Surface Transportation Improvement and Maintenance Program. There was a separate allocation of $ 160.9 million under the Rebuild Alabama program.

For fiscal 2021, ALDOT had total funds of $ 1.6 billion, according to the Legislative Services Agency. Almost 57% of that money came from government funds. The rest was federal and local.

NFL agent Andy Simms strikes on from Younger Cash, will get again to working his personal company

Andy Simms has spent most of his career as an NFL agent running his own agency.

The Hawken High School graduate and resident of Solon is doing just that again after he and four of his colleagues parted ways with Young Money and formed APAA Sports 1 of 1 agency.

Young Money, owned by renowned rapper Lil Wayne, acquired a majority stake in PlayersRep Sports Management in 2017. PlayersRep, which Simms co-founded with Wesley Spencer, had been in the business since 1999. Then Simms’ first client, former NFL defender Chike Okeafor, became about to graduate from Fall Western Reserve University’s law school.

In early 2018, after Simms and five other PlayersRep agents partnered with Young Money, Simms told Crain’s that “the ability to build our clients’ brands” was a primary reason for the move. However, the past few years have encouraged Simms that his group had to be in charge.

“There were things that were great, but there were things that we realized we could do better,” said Simms of his time at Young Money. “Ultimately, I knew that in order to build a company for the next 10 years we were looking ahead, building it our way, doing things the way we needed to, and being in control of all these aspects of our business, really is what we need back to. “

Six agents switched from PlayersRep to Young Money. Five – Simms, Spencer, Ken Sarnoff, Cody Recchion and Dave Lee – will continue to represent the 50 NFL players who move from Young Money to 1 of 1. Nicole Lynn, who was also part of the PlayersRep and Young Money teams, left Wayne’s company shortly before the NFL draft to join Klutch Sports as the agency’s new president of the agency’s football operations.

Marketing and branding the athletes they represent – crucial elements that led to the young money deal – are still important areas that need improvement, Simms said.

“At 1 in 1, we were able to assemble a team with more in-house marketing options, more digital graphics, and more off-field opportunities to help players in so many different ways that we weren’t equipped to do.” do either as PlayersRep or as Young Money, “said Simms.

The great thing about the new agency is that all the athletes have moved with the five agents.

The group includes Jalen Hurts, a sophomore quarterback who could be the Philadelphia Eagles’ future in that position; Lane Johnson, three-time Pro Bowl tackle for the Eagles; the McCourty twins Devin and Jason; Pro Bowl tight end Darren Waller; outstanding wide receiver Tyler Boyd; Kansas City Chiefs Speedster Mecole Hardman; and Chiefs Defensive Lineman Jarran Reed.

“Business was good before Young Money, it was good when we were with Young Money, and now that we’ve moved on from Young Money, it’s getting even better,” said Simms. “The business of what we do as agents – how we look after the players, how we deal with the contracts, how we meet all of the needs of the players off the field – that’s just something we have to keep improving at, we’re coming Ahead.”

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Location Change: Metropolis of Moscow Strikes ‘Leisure within the Park’ Occasion to Hamilton Indoor Recreation Middle | Idaho

MOSCOW – The city of Moscow has announced that the July 1st “Entertainment in the Park” event will be relocated to the Hamilton Indoor Recreation Center due to the excessive heat warning for the Palouse area.

This FREE family-friendly event opens with a special story time for local youth presented by the Moscow Public Library.

The Sesitshaya Marimba Ensemble will perform in the first act of the evening. This Moscow-based group plays traditional and contemporary African songs from sub-Saharan Africa and shares the lively rhythmic sounds of Zimbabwe’s Kwanongoma marimbas mixed with marimbas from the Pacific Northwest.



Sesitshaya Marimba Ensemble

Sesitshaya Marimba Ensemble

Izzy Burns, an 18 year old indie / folk singer-songwriter from Moscow, will close the event. Burns is a self-proclaimed folk music, jamming and hats lover who sings originals and reinvented classics.



Izzy Burns

Izzy Burns

The Hamilton Indoor Recreation Center is located at 1724 E. F St. For more event details, please visit the Moscow City Facebook page or visit https://www.ci.moscow.id.us/196/Entertainment-in-the-Park.

The entertainment in the park is sponsored by Moscow City, Moscow Art Commission, Friends of Moscow Public Library, Latah District Library District, and Avista.

AMC Leisure’s Strikes Make Sense

AMC Entertainment (NYSE:AMC) files to sell 11 million shares, sending the stock down 30%. ExxonMobil (NYSE:XOM) loses a proxy fight as an activist firm gains a third seat on the board of directors. Motley Fool analyst Bill Mann, with host Chris Hill, analyzes those stories and FireEye‘s (NASDAQ:FEYE) decision to sell part of its business (and its name) to a private equity firm.

To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.

https://www.youtube.com/watch?v=if-fAVWzjVE

This video was recorded on June 3, 2021.

Chris Hill: It’s Thursday, June 3rd. Welcome to MarketFoolery, I’m Chris Hill, with me today, the one and only, Bill Mann. Good to see you, my friend.

Bill Mann: How are you? How are you celebrating Mark Levin’s birthday today?

Hill: Mark Levin, happy 40th birthday to Mark Levin. Maybe the greatest fake driver’s license in film history.

Mann: You know, it’s only one name, right? Yeah. If you look at the driver’s license, his birth date on his fake ID was June 3rd, 1981. That means that Mark Levin is today 40 years of age. I will be celebrating later. I don’t know about you.

Hill: If you’re looking for a movie to relax with over the weekend, I will just say SuperBad, 88% on Rotten Tomatoes.

Mann: Yes, and the 12% are the ones who found the launch to be a bit much, which I can understand.

Hill: Understandable.

Mann: Yeah.

Hill: We’ve got an energy story that I don’t understand. We have a cybersecurity story that I really don’t understand. But we’re going to start with the mayhem that is AMC Entertainment. People on Reddit are buying shares of AMC Entertainment, but you know who is selling? AMC Entertainment.

Mann: I like the fact that you’re setting this apart and suggesting maybe you do understand this one.

Hill: I understand the optics of it anyway, but yeah, the company came out, they filed to sell more than 11 million shares, and the stock is down more than 30% today.

Mann: Right now, at the time that we’re speaking, it could end anywhere. Even at this point, AMC stock is up more than 100% for the week. The company came out and said, we are going to take advantage of the market and they were very clear in their filing. It was interesting. They said there is no business reason for this level of volatility, there’s no business reason for this price. We are going to sell and we are going to go out, use these proceeds to try and buy up some irreplaceable movie assets, which is great. This is exactly what they should be doing. What’s so funny to me about the meme stocks in general, take GameStop for example, is that the company is almost irrelevant to the story. At no point do you hear, “Hey, the CEO is doing X”, you just don’t hear these things. The only thing that really bothers me about this, Chris, though, is that yesterday, the stock went up, and at one point, it was up 120% on the day, which is a lot, and AMC came out and said we’re going to provide free popcorn and other benefits to investors knowing full well, had to, that they were going to be releasing something today, saying they were selling shares. That to me is just distasteful. Everything else about this I find fine.

Hill: I’m going to go in no particular order, I agree with you. It is distasteful the timing of that. That said, I think everything else that management is doing here makes sense. They are taking advantage of an inflated stock price. … They’re being very clear saying, “Look, here’s why we’re selling that.” If you’re a lawyer on staff at AMC Entertainment, you’ve got to be happy with the way they are handling this part of it.

Mann: You know, it would be awesome. Unfortunately, these things are bound by legal language. If they said, we’re selling 11 million shares, wouldn’t you? What do you expect us to do? The stock is down quite a bit today. Who knows where it will end up? This is a company that has not traded on its fundamentals. There is no reason that AMC, which lost $4 billion in 2020, which makes sense because the theaters were closed, it lost $150 million in 2019 when they were open. I have no explanation for this other than the market has lost its mind. But AMC is right to go ahead and say, “Well, OK, if you dare us to sell some, we’re going to sell some, and we’re going to keep selling until the price gets back to being in an irrational place, and at which time, we will have a lot of cash on hand.”

Hill: I said this the other day. This is unlike some of the high-flying Cloud-based Nasdaq stocks that have come down 20%, 30%, 40% off of their highs over the last few months, those are at least growing businesses in growing industries. When you look at the business of movie theaters, the most important trend is the fact that for the past 20 years, steadily, year-over-year, incrementally fewer people are going to the movie theater. Now, there are years where the overall box office receipts increase, but that’s due to price increases, that’s not due to more bodies coming into the theaters so unless AMC has a plan to get more butts in the seats, I’m not sure how this has a happy ending.

Mann: Well, not only that, but the way that movie theaters make money is off of concessions, and for movies that have been there for more than three weeks. For the first three weeks and this has been pretty much contractual across the board, the studio gets all of those ticket revenues, they all go and then you start to have some negotiated split. What happened during 2020, and it’s not the movie theater’s fault, is that that relationship was broken. We don’t have any guarantee that that’s going to come back. We had some big hits that literally went straight to streaming. I don’t know. The good news is that I think that the business case for AMC is almost irrelevant for what’s going on, it’s a meme, a $20 billion meme, so good luck, but I don’t really see the business case, but I completely see why AMC will say, “Look, if you give us access to enough money and enough resources, we can maybe build a business case.”

Hill: Let’s move on to ExxonMobil; an Actavis firm called Engine No.1, has won a third seat on Exxon’s Board of Directors, Actavis buying up shares and pushing for change in a given business is not unusual. What is unusual in this case is that Engine No.1 doesn’t have a 9% stake in ExxonMobil or a 5% stake, they have a 0.02% stake in this company. How is this happening? How are they able to affect change, at least in terms of getting people on the board when they own slightly more shares of ExxonMobil’s than I do?

Mann: Not many more. We know you’re a big deal. What a disaster this is for Exxon’s management team, particularly the CEO, Darren Woods. This is the most expensive proxy battle in history in the United States. The amount of money that was spent on competing on the Board slate, the company supported slate of directors vs this renegade set of directors, the activist investors, they had backing from a number of large pension funds which are huge investments including CalPERS, which is the California pension fund, CalSTRS which is the education pension fund for the state of California, New York Common Retirement Fund, a lot of big pension funds also got involved and supported the Engine No.1 Mobil. This is all about the activists believing that Exxon has not done enough, both from an environmental standpoint and from a business standpoint to move itself to carbon-neutral technology. That this is a path that seems obvious to them and if Exxon, with all of its resources moves there first, they will probably be able to compete. That is the argument and that is the theory of the case for these activist investors. Although Engine No.1 is not a big owner of Exxon, these are no mooks. It’s run by a guy named Gregory Goff, who used to be the CEO of a company called Tesoro, which is a oil and gas company, he had absolutely tremendous returns. There was a senior strategist from Google X, former Chief Executive of Vestas Wind Systems. These are people who know the business. This is a really really credible group that’s been put together.

Hill: Yet I’m looking at ExxonMobil stock up nearly 50% year-to-date, obviously. There are reasons for that that have nothing to do with the Board of Directors.

Mann: Oil prices definitely.

Hill: Right. Where do you think this goes over the next six to 12 months? I realize I’m asking you to look into your crystal ball, but in terms of the direction of ExxonMobil’s business, what should people expect?

Mann: Well, a third board seat is a huge thing. Two are enough to be loud. Three is enough to be transformational. I think you’re going to see Exxon move very quickly toward the exact thing that Engine No.1 is speaking of. In fact, you’re already seeing them, they’re coming out with reports of how they’re going to make their upstream carbon-neutral or moving toward those targets. I think it’s going to happen a lot faster. It would not surprise me. This is such a rebuke of the current management team. It would not surprise me if Darren Woods steps down pretty soon. He staked his reputation on winning this proxy battle and did not. There’s going to be some changes, and if that happens, these new board members will be instrumental in picking the next CEO and management team.

Hill: Shares of FireEye are down 15% today because the company is selling its products business and its name to a private equity firm, Symphony Technology Group, for $1.2 billion. The Cloud security network and email products will go to this private equity firm. The remaining cyber forensics business is going to be called Mandiant Solutions. What is going on here? I can’t recall whether it’s this industry or any other industry. I can’t recall ever seeing a story like this where they’re not just spinning off part of their business. What is left and what would you rather be the owner of?

Mann: As we are in the studio for this, the stock is down about 15%. Basically on this news, $1.2 billion sale to Symphony Technology Group, which is a private company. I actually like the deal. I understand exactly why the shares would be down this much. Because when you’re selling that big of a chunk of your business, there are a lot of shareholders who are owning your stock because of that chunk of business. It makes perfect sense to me that the market woke up today, it was like, “What I am going to do is step back because what will continue in place is not what I thought was going to be there.” But CEO Kevin Mandia has been very clear about the opportunity in cyber forensics. We see with these cyberattacks that there are going to be huge opportunities and they’re going to necessitate a coordinated government-led program. He wants to make sure that his company, Mandiant Solutions is best placed so that they can be a part of that conversation. I get why they would make this deal. I also get why the market doesn’t seem to like it at all. But I’ve never seen a company sell its name before.

Hill: We’ve talked before about the growing opportunity in the cybersecurity industry. I think over the last few years, it has definitely moved into that category for individual investors. If you’re building out your portfolio and you’ve got 25 stocks, I think cybersecurity is now in that category where you need to look at your portfolio and say, ”Where do I have exposure to the cybersecurity industry?” If you don’t have it, I think you should go out and find it.

Mann: Yeah, 100%.

Hill: But in this case, it sounds like within that industry, the CEO is basically saying, I’m putting all of my chips on cyber forensics and I’m going to take the short-term hit. This is where the growth engine is going to be.

Mann: Yeah, there’s $1.2 billion in cash that they’re going to have on hand as well.

Hill: Let me just add, for a company with a market cap of $4.5 billion, so it is not an inconsequential amount of money.

Mann: They have some firepower. They have some liquidity that they can do some things with. I think actually with cybersecurity the nature of the business, and we get asked this all the time, what are your favorite cybersecurity companies? I actually would take a basket approach and own several, or if not many of them, and think of them as one, two, or three positions in your portfolio. The reason is this, cybersecurity becomes more powerful the more players there are. In a lot of industries, if you go in as a hacker, that you only have to figure out one company’s protocols, then maybe I don’t know that that creates the same level of security as multiple ones with different levels of expertise. We don’t ultimately know which one is going to win. This is an area where I think it is incredibly important because unfortunately, the jerk element of this world is not slowing down. They are doing some really horrible things that have cost all of us whether we know it or not, a lot of money. I think you have to be involved with the companies that are on the front line in fighting the hackers and the cybersecurity terrorists. I really don’t know what you call them now, but enough is enough.

Hill: You don’t know what to call them, but you appear to have some insight into how they think, which I find a little unsettling. Last thing and then I’ll let you go. You talk about the basket approach, as confusing as I find this story, FireEye/Mandiant Solutions is down 15%, is this one that you look at and say, this is worthy of consideration for a place in a cybersecurity basket? Or do you want to see some of the dust settle from this move?

Mann: The answer is absolutely. I think that this company has a place. This move did not come from nowhere. This is Kevin Mandia, who is a founder of Mandiant, which was actually sold to FireEye, and then he became the CEO. This is his bread and butter. This is the company that he first founded. This is what he knows best. FireEye is a credible competitor in the space. The artist formerly known as FireEye should absolutely be something that you would consider.

Hill: That would be a better name than Mandiant Solutions. Bill Mann, great talking to you, as always, thanks for being here.

Mann: Thanks, Chris.

Hill: As always, people on the program may have interest in the stocks they talk about and The Motley Fool may have formal recommendations for or against so don’t buy or sell stocks based solely on what you hear. That’s going to do it for this edition of MarketFoolery. This show is mixed by Dan Boyd. I’m Chris Hill, thanks for listening. We’ll see you on Monday.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Petersburg meeting strikes cash round in ultimate finances

The Petersburg District will try to replace the logs that provide shelter from the wind and waves at Banana Point on the southern end of Mitkof Island. (Joe Viechnicki / KFSK)

Petersburg district assembly made some changes to the final district budget, which it approved on Monday. This includes some design work for a secluded boat ramp and dock, snow removal for Papke’s landing pad, and some cash to maintain two public toilets.

The budget for the fiscal year beginning in July puts the districts spending at $ 9.7 million in the total fund, only slightly higher than last year. And like last year, this budget is also using reserves to balance expenses and income. The district built those savings by using federal emergency aid towards the salaries of first responders and other district workers during the pandemic.

The assembly changes mostly move money from one planned use to another or use some savings, but do not add to the overall fund spending.

Congregation member Dave Kensinger suggested paying up to $ 40,000 for conceptual plans. They would consider upgrading or replacing the breakwater at the Banana Point boat ramp on southern Mitkof Island and the dock at Papke’s Landing about 10 miles south of Petersburg.

“I think anyone who uses these facilities will see that they are very important to the economic viability of the region,” said Kensinger. “They are very important to people who are relaxing in the area, and they are not used by a specific part of the community, but by the entire district.”

Kensinger said the planning is a starting point and could help the district grant land through a federal infrastructure bill. The design work would be funded from the district’s land development fund. This is money that is made available to buy or improve land or buildings.

Mayor Mark Jensen noted that despite some previous talks to transfer some to local government, the docks and boat ramps remain the property of the state.

“I think that’s what worries me if we don’t have permission to continue working, apply this design to the facility, when we don’t have rights to it,” Jensen said.

The vote was 5-1 in favor of this change, with Jensen voting no and Jeigh Stanton Gregor not voting at the meeting.

The meeting also approved a proposal by staff to increase the budget for replacing the sewerage system on Ira II Street. The contract for this work goes to the local company Rock N Road.

Another budget change was to provide revenue from the borough’s maritime passenger ship fee for cleaning two public toilet trailers this summer. This fund includes approximately $ 50,000 from a fee for cruise lines investing here.

Kensinger suggested this budget direction, thinking that it would be a good use of the revenue from these cruise lines.

“This is a really easy sale to these companies as their passengers have to use the restroom,” he said. “And right now, as it has been in recent years, much of the toilet use has fallen on local businesses in the city and they are ultimately bearing the cost of cleaning their toilets and providing those supplies. And if you have a designated location right in the center of the city, I think you will eliminate a lot of the conflicts that have arisen in finding a place for the toilets in the city. ”

It is not yet clear whether a county employee or a private contractor would do this work. Jensen was also the only one no-vote to this change.

It was a unanimous vote to spend $ 10,000 from a district emergency fund that will be given to members of the emergency response center for their work during the pandemic. This money could usually be spent on unforeseen expenses.

Congregation member Bob Lynn suggested that $ 10,000 be removed from the roadside budget to pay for snow plowing at Papke’s Landing. This contractually agreed work was financed in the last budget, but was not included in this year’s personnel proposal. Lynn said the service was promised with the district formation in 2013 and only Jeff Meucci voted no.

The overall budget was accepted at 5: 1 and Mayor Jensen was the only opponent.

“There are several reasons why I will not support the budget as I did not in the second reading and that of the fire truck,” said Jensen. “And the change was made on first reading to get more funding for the KFSK, even though they are getting a few hundred thousand dollars from the federal government, and I have problems with some of those changes that were made just today. Therefore I will not support the changed budget. “

The plan calls for a fire truck to be replaced for up to $ 650,000. Various district offices make regular payments into a vehicle fleet fund to cover the high anticipated costs of this and other vehicles used by the district workers. The KFSK receives an increase in its district funding from this budget as well as a one-off payment of over $ 203,000 in emergency federal aid. The radio station has lost its government funding, approximately $ 88,000 for each of the past two years.

In a separate vote, the assembly also approved a property tax rate for the coming year – with the same rate for property owners in supply area one and a slight increase for the rest of the district. And although the new fiscal year is only a few weeks away, the district still has no final word on government funding. But the local government does not expect any school project debt to be repaid this year either and plans to fill this gap with reserves.

Kim Kardashian West “Utterly Strikes” From Kanye West Throughout Divorce | Leisure Information

Kim Kardashian West “completely moved” from Kanye West.

The Kardashian Family Celebrity Life star filed for divorce from her estranged husband in February after roughly seven years of marriage while she “loved” her ex-partner. He said he would no longer stick to the divorce.

The insider told Us weekly: [but she] I still love Kanye. “

Forty-year-old Kim contacted Kanye on social media this week to celebrate his 44th birthday and declared him “forever loved”.

The founder of Skim-North, Seven, Chicago, Three, Saint, Five, Psalm, Two, Has Kanye subtitled her retrospective snap with three kids on a private jet. ::

“I love you for a lifetime!”

Kim’s sister Khloe Kardashian also visited her Instagram and posted a sweet message to her “lifelong brother”.

With Holiday Snaps of Chloe, Tristan Thompson, Kanye and Kim, she wrote:

In a recent episode on E! Series, Kim admitted to tears and confessed to the split, feeling like a “failure”.

In a clip last year, the beauty suggested that the reason for divorcing a “famous” rapper was because he was “worthy” of a woman from state to state.

She told her sisters:

“Why am I still in a place like this that has been stuck for years? For example, he goes to a different state or moves to a different state every year to raise a child. I have to be with him and he was a great father and did a great job. “

Kim also admitted that “failing” made her feel like a “loser”.

She added: I feel like I’ve lost. But I can’t even want to be happy. “

Kim Kardashian West completely pulls out of Kanye West during divorce | Entertainment news

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