A Jan 6 Convict Is Suing Parler for $370 Million
Troy Smocks, a convicted felon who was sentenced to 14 months in prison for making threats on the now-defunct conservative platform Parler, is suing the platform for a staggering $370 million. Parler had banned Smocks after he called for violence in the aftermath of the January 6, 2021 insurrection. In his post on January 7, […]
BLM Charity Faces Insolvency Risk Amid Questionable Spending
Black Lives Matter (BLM) is facing potential insolvency as its debt reaches $8.5 million. The BLM Global Network Foundation (GNF) revealed a significant drop of nearly $10 million in its investment accounts during the most recent tax year, according to financial disclosures obtained by The Washington Free Beacon. The financial difficulties come amid revelations that […]
Avicanna To Purchase Assets of Medical Cannabis By Shoppers For $2.6 Million
Avicanna (TSX: AVCN) has confirmed it will be moving forward with the previously announced plan to acquire Medical Cannabis by Shoppers. A definitive agreement has now been entered between Shoppers Drug Mart, a subsidiary of Lowlaw Companies (TSX: L) and Avicanna, providing for the purchase to proceed and close by July 31, 2023. The transaction […]
Oil & Gas Production In Western Alberta Largely Resumes After Wildfires
Energy firms in Alberta appear to be bringing production back online following wildfires in two key areas of the province. Crescent Point Energy (TSX: CPG) this morning indicated that over the course of the last week, 45,000 boe/d of production has been brought back online in the Kaybob Duvernay region, following the shut-in earlier this […]
Cannabis Retailer Fire & Flower To Review Strategic Options
Fire & Flower Holdings (TSX: FAF) quietly announced Friday evening that it undergoing a strategic review. The Canadian cannabis retailer has reportedly engaged a financial advisors to assist it with reviewing “strategic options including financing options.” The engagement follows the firm revealing two weeks ago in regulatory filings that it requires additional financing, which it […]
State Farm Insurance Stops Writing Home Policies in California Due to Wildfire Risk
In a little-noticed press release on May 26, just before the Memorial Day holiday weekend in the U.S., State Farm General Insurance Company announced it would stop accepting new applications in California for certain coverage items. The change is said to impact all business and personal lines for property and casualty insurance (e.g., home insurance) […]
Will The OPEC+ Meeting Push Oil Higher?
The frenzy surrounding artificial intelligence (AI)-related companies’ stocks seems to be sucking the proverbial “oxygen out of the room” for all other sectors. Already robust valuations are being pressed ever higher as “there simply is not enough market cap available to support the buying mania for artificial intelligence,” a particularly apt observation made by Joseph Zappia, […]
Chicago Parking Meters Are Making UAE The Big Bucks
A new audit has found that the city of Chicago is losing millions of dollars each year on its 75-year lease of its parking meters — all while the meters owners, Chicago Parking Meters LLC (CPM), are raking in hundreds of millions. Conducted by accounting giant KPMG and first reported by the Chicago Sun-Times, the […]
The Carvana Story: From Boom To Bust
Today our journey takes us through the rise and crash of Carvana, a company that, for a time, seemed to defy the gravity of traditional car sales. A company founded by a father-son duo, we’ll learn how their impressive start was fueled by the father’s past business, DriveTime Automotive Group, and how the duo came […]
Is Your Favorite Brand Too Gay? Is It Gay Enough?
Anheuser-Bush Inbev (NYSE: BUD), the largest beer company in the world, and the far-and-away leader in the American beer market, booked $14.2 billion in revenue in its 2023 first fiscal quarter; the three month period ending March 31st. That’s $1 billion more than the $13.2 billion in booked in Q1 2022. Anheuser-Bush’s top American brand, […]