Thursday Oct 22 2020

Purdue Pharma pleads guilty to three felonies which helped accelerate the opiod crisis.

This involves a $8.34 Billion settlement but Pharma is bankrupt. Expect about  $225 M to be paid.

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Streaming startup Quibi shuts down.

 

In an open letter to employees and investors posted to Medium on Wednesday evening, cofounders Jeffrey Katzenberg (former DreamWorks Animation CEO) and Meg Whitman (former HP CEO) wrote, “It is with an incredibly heavy heart that today we are announcing that we are winding down the business and looking to sell its content and technology assets. Quibi was a big idea and there was no one who wanted to make a success of it more than we did. Our failure was not for lack of trying; we’ve considered and exhausted every option available to us.”

Gee the CEO of Dreamworks and HP, what could go wrong?

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 Lots of new electric vehicle companies, No revenue no problem

Gee this sounds a lot like the dot.coms of  2000. ya think?

 

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Ex Blue Bell CEO Charged in deadly listeria case

Prosecutors say Paul Kruse conspired to remove tainted ice cream from customer shelves without admitting wrong doing.  This is an indictment not a conviction. This is another case that has been hanging around for years.

Weekend Oct 17 2020

Here is an accounting analysis of hthree energy firms.

They may not make it with less and less business. And looks like they all took on debt when oil prices were much higher.

That is always a bad combination.