☑️Bow down. LeBron James and childhood friend Maverick Carter are freshly funded. The pair's SpringHill Co. just raised itself $100M to get off the ground.
SpringHill, which is named after the apartment complex King James and his mother lived in Akron, combines Robot Co, a marketing agency, with SpringHill Entertainment, the studio behind "Space Jam: A New Legacy"
It also includes Uninterrupted LLC, the company that produces James' "The Shop" series. Time will tell if he'll pack the company up and move it to Miami, only to return a few years later and win a ring.
James started the company with the idea that diversity would be built into the company, and its employees are 64% people of color and 40% female.
☑️Dead end. The IRS did a lot to dish out stimulus checks to Americans during the pandemic. The only problem? It didn't check to see if all of them were alive.
The tax agency apparently shelled out more than $1.4B in stimulus checks to Americans that have "moved on" so to speak, according to the Government Accountability Office. I wonder what the postage to the afterlife is like. Those checks amounted to 1% of the total stimulus payments, but it took until April 30th for the Treasury Department to determine that the deceased are, in fact, ineligible for stimulus checks.
The issue? People who filed taxes in 2018 or 2019, which the stimulus payments were based on, may have died between then and now. OK, that's an honest mistake. The other issue? The Bureau of the Fiscal Service, the office that makes payments, doesn't have access to death records, even though the IRS does.
☑️That's it, you're sanctioned! The US Senate passed a unanimous bill putting sanctions on Chinese officials that helped "erode" Hong Kong's autonomy, including the banks and businesses that work with them.
DJT's administration isn't thrilled with the decision, as officials worry the sanctions could undercut the ability to work with China, while giving Congress too much power in the two nations dealings. Checks and balances, ever heard of 'em? The sanctions are mandatory, but the White House does have some say in where they're applied. The bill still has to get through the House, where bipartisan support will undoubtedly help its cause.
☑️Hold steady. Jobless claims held in there at just 1.5M claims last week. That marks every week in June showing the same unemployment numbers, which could spell a long road to recovery.
While the 1.5M is down from March's peak of 7M jobless claims, it is still well above the 695k record set back in 1982. Those receiving benefits clocked in at 19.5M in the week ended June 13th, down from previous weeks. So either people are getting jobs, or just gave up. Here's to hoping for the former!
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