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Playboy going public: Porn, Gambling, and Cannabis
NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY. https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1. https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%) NEW INFO 2 Here is the full webinar. https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866 NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx Playboy going public: Porn, Gambling, and Cannabis !!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should. In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase. Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below: https://www.playboy.com/ https://www.playboytv.com/ https://www.playboyplus.com/ https://www.iplayboy.com/ Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success. “Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.” https://www.scientificgames.com/ https://www.microgaming.co.uk/ “This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.” https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/ As per their SEC filing: “Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1 They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon. https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again: https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea “Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.” “According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently: https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress. Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait. https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/ Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video: https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05 Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing: “For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.” “In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.” “In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.” “In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.” They are profitable across all three of their current business segments. “Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.” https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders). https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world. "Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.” Also in the SEC filing, the Time Frame: “As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn. The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :( He should be fine with the 16 million PLBY shares he's going to have though :) Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw. I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets. https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003 Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this: “Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy. “Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative. https://www.secform4.com/insider-trading/1832415.htm https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html Y’all like that China money? “Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.” Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.” https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose. I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future. https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing. https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing “Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.” “Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.” Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong. Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will. Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way. Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains. TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here: WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf Or here: https://www.mcacquisition.com/investor-relations/default.aspx Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.” STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon. Position: 5000 shares. I will buy short, medium, and long-dated calls once available.
TEKK - Tekkorp Digital Acquisition Corp: Who's Who of Gaming Mgmt Teams!
Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment,Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap! If you don't like to read... you don't like to make money!!!! ---------------------------------------------------------------------------------------- Matthew Davey — Chief Executive Officer and Director Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led. Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included: • OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform. • Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings. • OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets. These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018. Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University). Robin Chhabra — President Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following: • TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia. • TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs. • William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom. Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet. Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science. Eric Matejevich — Chief Financial Officer Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million. Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million. Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation. Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania. Our Board of Directors Morris Bailey — Chairman Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States. In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless. Tony Rodio — Director Nominee Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University. Marlon Goldstein — Director Nominee Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include: • TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date. • TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group. • TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion. • TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction. • TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion. Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet. Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities. Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law. Sean Ryan — Director Nominee Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division. Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division. We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles. Tom Roche — Director Nominee Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including: • Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002. • Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion. • Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets. • MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering. Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector. Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association. We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.
48 points: jesseaknight's comment in In the show St. Elsewhere, a character in the finale is shown to have thought of the whole series, which means he also made up all the shows that had crossovers with St. Elsewhere. This expands into the shows that were mentioned in the shows. There is at this point 419 shows in this universe
44 points: Derosa6037's comment in the longest single set at the laugh factory lasted 7h and 34m (by Dane Cook in 2008).
43 points: astronoob's comment in Margaret Hamilton, NASA's lead software engineer for the Apollo Program, stands next to the code she wrote by hand that took Humanity to the moon in 1969.
42 points: rus_reddit's comment in Rand Paul was the national debt for halloween in 2015. He said it was a very scary costume.
40 points: thejesiah's comment in Close Encounters of the Third Kind Geocache in Northern Italy
38 points: electro_hippie's comment in Why is smiling being frowned upon in the Russian culture?
37 points: SlideNERD's comment in The head of a tapeworm under an electron microscope
37 points: wtfisthisnoise's comment in Is U.S. income tax invalid because Ohio wasn’t legally a state when the 16th amendment was ratified?
35 points: Otterfan's comment in President Obama Roasts Donald Trump At White House Correspondents’ Dinner (2011)
35 points: _Foy's comment in Ways the Great Lakes try to Murder Ships - illustrated
49 points: jesseaknight's comment in In the show St. Elsewhere, a character in the finale is shown to have thought of the whole series, which means he also made up all the shows that had crossovers with St. Elsewhere. This expands into the shows that were mentioned in the shows. There is at this point 419 shows in this universe
45 points: Derosa6037's comment in the longest single set at the laugh factory lasted 7h and 34m (by Dane Cook in 2008).
42 points: astronoob's comment in Margaret Hamilton, NASA's lead software engineer for the Apollo Program, stands next to the code she wrote by hand that took Humanity to the moon in 1969.
42 points: thejesiah's comment in Close Encounters of the Third Kind Geocache in Northern Italy
41 points: rus_reddit's comment in Rand Paul was the national debt for halloween in 2015. He said it was a very scary costume.
38 points: srone's comment in The New BMW X6 Has Light-Absorbing 'Vantablack' Paint
37 points: SlideNERD's comment in The head of a tapeworm under an electron microscope
37 points: wtfisthisnoise's comment in Is U.S. income tax invalid because Ohio wasn’t legally a state when the 16th amendment was ratified?
36 points: _Foy's comment in Ways the Great Lakes try to Murder Ships - illustrated
36 points: bigtcm's comment in My immigrant Chinese parents make tamales every year.
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Telling landlords to not accept black applications, to the extent of being sued by the DoJ which identified a superintendent put the letter 'C' on applications of people of color so the office would know to reject them. source 2
Central Park 5 - repeat accusing boys of being criminals 12-17 years after DNA led to exoneration, all as justification for the death penalty and police becoming more violent
Tried to buy out the Ground Zero Mosque "not because I think the location is a spectacular one [because it is not] but because it will end a very serious, inflammatory, and highly divisive situation that is destined, in my opinion, to only get worse."
Falsely claimed thousands of NYC Arabs were "cheering" over 9/11
Repeatedly accusing Obama of not being born in this country
Calling Obama Kenyan/Muslim not just at first in 2011, but again in 2016 after claiming he himself deserved credit for getting Obama's birth certificate released
Trump says Abraham Lincoln 'did good' for the Black community but that 'the end result' is "questionable"
Stated that Minneapolis has "suffered enough" for having Somalian refugees
Will not allow Hurricane Dorian refugees from the Bahamas because because they are full of “very bad gang members.”
Muslim ban (yes it was, it treated travelers differently based on religion)
Pardoning Joe Arpaio who was convicted of racial discrimination, who expressly broke the law to target hispanics, arrested people for being hispanic without an actual criminal charge, and kept them in brutal prison conditions
Charlottesville apologetics of the neo-nazis - first said the problem was the left then "both sides" etc
Tweeted calling for the death penalty for Sayfullo Saipov, the Muslim who killed 8 with a truck along a Manhattan bike path. Yet he never said it for Dylann Roof, who killed 9 in a Charleston church even when Nikki Haley linked the rhetoric to him.
Specifically removing TPS and blocking visas from nations Haiti, El Salvador, Nicaragua, and Honduras
Tweeting that he ordered Pompeo to look into the "large scale killing of farmers" conspiracy of black people genociding white farmers in South Africa that never happened
Delayed Harriet Tubman $20 bill face from 2020 to 2028, even though the engraving plate had been complete since 2018 and Treasury Department said it was "far along in the process." In 2016, Trump said it should instead be put on the $2 bill which isn't printed
“I’ve got black accountants at Trump Castle and at Trump Plaza. Black guys counting my money,” Trump said, according to the 1991 biography. “I hate it. The only kind of people I want counting my money are short guys that wear yarmulkes every day.” ... “I think that the guy is lazy. And it’s probably not his fault, because laziness is a trait in blacks. It really is, I believe that. It’s not anything they can control.”
“You’re not gonna support me even though you know I’m the best thing that could ever happen to Israel”...“And I know why you’re not going to support me. You’re not going to support me because I don’t want your money”...“You want to control your own politician.” and “Is there anyone in this room who doesn’t negotiate deals? Probably more than any room I’ve ever spoken.” source
Repeating conspiracies about George Soros being behind various movements and attacks
Tells Jewish voters at IAC they are "brutal killers" and "not nice people"
Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis. Figuring out how to divide the COVID-19 content from the “regular” news has been difficult because the pandemic is influencing all aspects of life. Some of the stories below involve the virus, but I chose to include them when it fits into one of the pre-established categories (like congress or immigration). The coronavirus-central post will be made again this Thursday-Friday; the sign up form now has an option to choose to receive an email when the coronavirus-focused roundup is posted. House-keeping:
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Let’s dig in!
MAIN COURSE
Congress passes stimulus
Last week started out with a Republican-crafted stimulus bill that was twice-blocked by Senate Democrats, who objected to the lax conditions of aid to corporations, too little funding for hospitals, and a $500 billion “slush fund” for big companies to be doled out by Treasury Secretary Steve Mnuchin with no oversight. Conservative-Democrat Joe Manchin (WV) even criticized the GOP bill:
“It fails our first responders, nurses, private physicians and all healthcare professionals. ... It fails our workers. It fails our small businesses… Instead, it is focused on providing billions of dollars to Wall Street and misses the mark on helping the West Virginians that have lost their jobs through no fault of their own.”
Through negotiations, Democrats shifted the bill in a more-worker friendly direction. The version that passed includes the following Democrat-added provisions: expanded unemployment benefits, $100 billion for hospitals, $150 billion for state and local governments, direct payments to Americans without a phase-in (ensuring low-income workers get the full amount), a ban on Trump and his children from receiving aid, and oversight on the “slush fund” (see next section for more info). Senate Democrats also managed to remove a provision that would have excluded nonprofits that receive Medicaid funding from the small-business grants.
Further reading: After Senate Democrats blocked the Republican-crafted bill, House Speaker Nancy Pelosi led the House Democrats in releasing their own version, a best-case scenario of their dream coronavirus stimulus bill. It is interesting to contrast what the Democrats prioritized to what the Republicans focused on: “How the House Democrats' stimulus plan compares to the Senate's”
Echoing sentiments expressed during debate on the previous coronavirus bill (the second, for those keeping track), Republican senators derided the $600 a week increase in unemployment payments as “incentivizing” workers to quit their jobs. Sens. Ben Sasse (Neb.), Rick Scott (Fla.), Tim Scott (S.C.) and Lindsey Graham (S.C.) delayed passage of the bill in order to force a vote on an amendment removing the extra unemployment funding. "This bill pays you more not to work than if you were working," Graham said. Fortunately for American workers, the amendment failed and the improved bill passed the Senate and the House.
Note: In 2009 only three Republicans helped Obama pass his stimulus bill in his first month in office.
The giveaways in the bill
While Senate Democrats were able to add worker-friendly provisions, the bill still required bipartisan support to pass the chamber and some corporate giveaways remained in the final version.
NYT: “Senate Republicans inserted an easy-to-overlook provision on page 203 of the 880-page bill that would permit wealthy investors to use losses generated by real estate to minimize their taxes on profits from things like investments in the stock market. The estimated cost of the change over 10 years is $170 billion.”
NYT: “...if a company owns multiple hotels, even if the overall hotel or restaurant chain has more than 500 employees — the limit to qualify for treatment as a small business — it will still be able to take advantage of the small-business benefits offered in the rescue package. ...The provision could benefit the Trump Organization, which operates a relatively small chain, with six hotels in the United States in cities including New York, Washington and Chicago.”
“A provision for the FDA to approve ‘innovative’ sunscreens—which would benefit L’Oreal, which has operations in Kentucky—appeared in the bill, which was steered in the Senate by Majority Leader Mitch McConnell of Kentucky.”
“The $25 billion allocated in loans and loan guarantees for the airlines will also benefit eligible businesses "approved to perform inspection, repair, replace, or overhaul services, and ticket agents.” The last two words — ‘ticket agents’ — mean that travel agents who book flights will also be able to apply for a piece of the $25 billion.”
“The credit reporting industry got a win by defeating a total ban on negative credit reports during the crisis. Instead, a watered down version made it into the final bill: Consumers wouldn't get a negative credit report if they have an agreement with a lender to delay payments or make partial payments.”
Trump’s signing statement
While signing the latest coronavirus relief bill, the president also issued a signing statement undercutting the congressional oversight provision creating an inspector general to track how the administration distributes the $500 billion “slush fund” money. The newly-created inspector general is legally required to audit loans and investments made through the fund and report to Congress his/her findings, including any refusal by the executive office to cooperate. In his signing statement, Trump wrote that his understanding of constitutional powers allows him to gag the special IG:
"I do not understand, and my Administration will not treat, this provision as permitting the [inspector general] to issue reports to the Congress without the presidential supervision required" by Article II of the Constitution.
The signing statement further suggests that Trump does not have to comply with a provision requiring that agencies consult with Congress before it spends or reallocates certain funds: "These provisions are impermissible forms of congressional aggrandizement with respect to the execution of the laws," the statement reads. While some have said that Congress fell short in this instance, one Democratic Senate aide told Politico that Congress built in multiple layers of oversight, including “a review of other inspectors general and a congressional review committee charged with overseeing Treasury and the Federal Reserve's efforts to implement the law.” Legal experts have pointed out that a signing statement is “without legal effect.” But that ignores the fact that oversight is not equal to enforcement. The problem, in my opinion, isn’t that Congress won’t be notified of any abuses of power by Trump. The problem is that congressional Republicans and the judiciary have largely failed to hold him accountable and enforce our laws even after learning of his abuses.
Concerns about the IG
Another potential weakness in the oversight structure is the inspector general position itself. The special inspector general for pandemic recovery, known by the acronym S.I.G.P.R., is nominated by the president and confirmed by the Republican-controlled Senate. As we’ve seen from Trump’s previous nominees, particularly judicial, many unqualified individuals have been confirmed. The Democrats will not have the power to stop the president and Mitch McConnell from jamming through a loyalist to fill the SIGPR role.
Former inspector general at the Justice Department Michael Bromwich: “The signing statement threatens to undermine the authority and independence of this new IG. The Senate should extract a commitment from the nominee that Congress will be promptly notified of any Presidential/Administration interference or obstruction.”
You may recall that Trump has already proven that he’s willing to interfere with the legally-mandated work of an inspector general. When the Ukraine whistleblower filed a complaint last year, the IG of the Intelligence Community, Michael Atkinson, investigated and determined the complaint to be “urgent” and “credible.” Atkinson wrote a report and gave it to Director of National Intelligence Joseph Maguire to hand over to Congress. However, the White House and DOJ interfered and instructed Maguire not to transmit the report to the Senate and House Intelligence Committees. Chairman Adam Schiff had to subpoena Maguire to turn over the report and testify before his committee. Further, there are already five IG vacancies in agencies that have a critical role in responding to the pandemic. The Treasury itself has not had a permanent, Senate-confirmed IG for over eight months now, and Trump hasn’t nominated a replacement. The Treasury Dept. has taken a lead role in the coronavirus response, with Secretary Mnuchin handling most of the negotiating with Congress on Trump’s behalf. The fact that the lead agency doesn’t have IG oversight should be troublesome in itself; replicating the situation with a special IG doesn’t seem to be a promising solution.
The other four coronavirus-related agencies without a permanent IG: Department of Health and Human Services’ IG has been vacant for nine months, Department of Defense’s IG has been vacant for four years, Department of Education’s IG has been vacant for one year, and Office of Personnel Management’s IG has been vacant for four years. Overall, there are twelve IG vacancies in the 37) presidentially-appointed offices.
UPDATE: The nation's inspectors general have appointed Glenn Fine, the Pentagon's acting IG, to lead the committee of IGs overseeing the coronavirus relief effort.
This is one of several oversight mechanisms built into the new law. They include: A committee of IGs (now led by Fine), a new special IG (to be nominated by Trump), a congressional review panel (to be appointed by House/Senate leaders)
Direct payments
Included in the stimulus bill is a $1200 one-time direct payment for all Americans who made less than $75,000 in 2019 (less than $150,000 if couples filed jointly). More details can be found here. I have read that the Treasury will use 2018 information for those who have not filed yet this year, but I am not 100% sure that’ll happen. Mnuchin has said that Americans can expect to receive the money within three weeks, but many experts expect that timetable to be pushed into late April. Additionally, that only applies to Americans who included direct deposit information on their 2019 tax returns. Those who did not include their bank’s information will have to be sent a physical check in the mail… which could take anywhere from two to four months. Other options are being discussed, including partnering the Treasury Dept. with MasterCard and Visa to deliver prepaid debit cards. Venmo and Paypal are reportedly lobbying the government to be considered as a disbursement option. Future payments? House Speaker Pelosi is already planning another wave of direct payments to Americans, saying that the $1,200 is not enough to mitigate the economic effects of the pandemic: “I don’t think we’ve seen the end of direct payments.” Republicans, meanwhile, are taking a ‘wait and see’ approach, using the next couple of weeks to measure the impact of the $2 trillion bill passed last week.
House Minority Leader Kevin McCarthy: “What concerns me is when I listen to Nancy Pelosi talk about a fourth package now, it’s because she did not get out of things that she really wanted...I’m not sure you need a fourth package...Let’s let this work ... We have now given the resources to make and solve this problem. We don’t need to be crafting another bill right now.” For the fourth legislative package, Democrats have said they would like to see increased food stamp benefits; increased coverage for coronavirus testing, visits to the doctor and treatment; more money for state and local governments, including Washington, D.C.; expanded family and medical leave; pension fixes; and stronger workplace protections.
Trump’s signature Normally, a civil servant signs federal checks, like the direct payments Americans are set to receive. According to a Wall Street Journal report, Trump has told people that he wants his signature to appear on the stimulus checks.
THE SIDES
War on the poor continues
Amid the coronavirus crisis, Trump has defended his continued support of a Republican-led lawsuit to dismantle the Affordable Care Act, which would result in 20 million Americans losing health insurance if successful. The Supreme Court agreed to hear arguments in the case this fall. Contrasting with his position that the ACA is illegal, Trump is considering reopening enrollment on HealthCare.gov, allowing millions of uninsured individuals to get coverage before potentially incurring charges and fees related to COVID-19. Joe Biden called on Texas Attorney General Ken Paxton, who is leading the charge against the ACA, and President Trump to drop the lawsuit:
“At a time of national emergency, which is laying bare the existing vulnerabilities in our public health infrastructure, it is unconscionable that you are continuing to pursue a lawsuit designed to strip millions of Americans of their health insurance and protections under the Affordable Care Act (ACA), including the ban on insurers denying coverage or raising premiums due to pre-existing conditions.”
The Trump administration is also pushing forward with its plan to kick 700,000 people off federal food stamp assistance, known as SNAP (Supplemental Nutrition Assistance Program). The USDA announced two weeks ago that the department will appeal Judge Beryl Howell’s recent decision that the USDA’s work mandate rule is “arbitrary and capricious." Additionally: The Social Security Administration has no plans to slow down a rule change set for June that will limit disability benefits, the Department of Health and Human Services still intends to reduce automatic enrollment in health coverage, and the Department of Housing and Urban Development will continue the process to enact a rule that would make it harder for renters to sue landlords for racial discrimination.
Lawmakers’ stock transactions
The Justice Department and Securities and Exchange Commission are beginning to investigate stock transactions made ahead of the economic crisis caused by the coronavirus pandemic. CNN reports that the inquiry has already reached out to Senator Richard Burr for information. “Under insider trading laws, prosecutors would need to prove the lawmakers traded based on material non-public information they received in violation of a duty to keep it confidential,” a task that won’t be easy. Sen. Burr is facing another consequence of his trades: Alan Jacobson, a shareholder in Wyndham Hotels and Resorts, sued Burr for allegedly using private information to instruct a mass liquidation of his assets. Among the shares he sold were an up to $150,000 stake in Wyndham, whose stock suffered a market-value cut of more than two-thirds since mid-February.
Environmental rollbacks
Using the pandemic as cover, the Trump administration has begun to more aggressively roll back regulations meant to protect the environment. These are examples of what Naomi Klein dubbed “the shock doctrine”: the phenomenon wherein polluters and their government allies push through unpopular policy changes under the smokescreen of a public emergency. On Thursday, the EPA announced (non-paywalled) an expansive relaxation of environmental laws and fines, exempting companies from consequences for pollution. Under the new rules, there are basically no rules. Companies are asked to “act responsibly” but are not required to report when their facilities discharge pollution into the air or water. Just five days before abandoning any pollution oversight, the oil industry’s largest trade group implored the administration for assistance, stating that social distancing measures caused a steep drop in demand for gasoline.
Monday morning update: In an interview with Fox News this morning, Trump said he was going to call Putin after the interview to discuss the Saudi-Russia oil fight. A consequence of this "battle" has been plummeting prices in the U.S. making it difficult for domestic companies (like shale extraction) to turn a profit. It's striking that the day after Dr. Fauci told Americans we can expect 100,000 to 200,000 deaths from COVID-19 (if we keep social distancing measures in place), Trump's first action is to talk to Fox News and his second action is to intervene in an international tiff on behalf of the oil and gas industry.
Gina McCarthy, who led the E.P.A. under the Obama administration, called the rollback “an open license to pollute.” Cynthia Giles, who headed the EPA enforcement division during the Obama administration, said “it is so far beyond any reasonable response I am just stunned.” The EPA is also moving forward with a widely-opposed rule to limit the types of scientific studies used when crafting new regulations or revising current ones. Hidden behind claims of increased transparency, the rule would require disclosure of all raw data used in scientific studies. This would disqualify many fields of research that rely on personal health information from individuals that must be kept confidential. For example, studies that show air pollution causes premature deaths or a certain pesticide is linked to birth defects would be rejected under the proposed rule change. Officials and scientists are calling upon the EPA to extend the time for comment on the regulatory changes, arguing that the public is unable to express their opinion while dealing with the pandemic.
“These rollbacks need and deserve the input of our public health community, but right now, they are rightfully focused on responding to the coronavirus,” said Representative Frank Pallone of New Jersey, the chairman of the House Energy and Commerce Committee.
Other controversial decisions being made:
A former EPA official who worked on controversial policies returned as Administrator Andrew Wheeler’s chief of staff. Mandy Gunasekara helped write regulations to ease pollution controls for coal-fired power plants and vehicle emissions in her previous role as chief of the EPA’s Office of Air and Radiation. In a recent interview, Gunasekara, who played a role in the decision to exit the Paris Climate Accord, pushed back on the more dire predictions of climate change, saying, “I don't think it is catastrophic.”
NYT: The plastic bag industry, battered by a wave of bans nationwide, is using the coronavirus crisis to try to block laws prohibiting single-use plastic. “We simply don’t want millions of Americans bringing germ-filled reusable bags into retail establishments putting the public and workers at risk,” an industry campaign that goes by the name Bag the Ban warned on Tuesday. (Also see The Guardian)
Kentucky, South Dakota, and West Virginia passed laws putting new criminal penalties on protests against fossil fuel infrastructure in just the past two weeks.
The Hill: The Environmental Protection Agency (EPA) said Friday that it will extend the amount of time that winter gasoline can be sold this year as producers have been facing lower demand due to the coronavirus. It will allow companies to sell the winter-grade gasoline through May 20, whereas companies would have previously been required to stop selling it by May 1 to protect air quality. “In responding to an international health crisis, the last thing the EPA should do is take steps that will worsen air quality and undermine the public’s health,” biofuels expert David DeGennaro said.
NYT: At the Interior Department, employees at the U.S. Fish and Wildlife Service have been under strict orders to complete the rule eliminating some protections for migratory birds within 30 days, according to two people with direct knowledge of the orders. The 45-day comment period on that rule ended on March 19.
WaPo: The Interior Department has received over 230 nominations for oil and gas leases covering more than 150,000 acres across southern Utah, a push that would bring drilling as close as a half-mile from some of the nation’s most famous protected sites, including Arches and Canyonlands National Parks… if all the fossil fuels buried in those sites was extracted and burned, it would translate into between 1 billion and 5.95 billion metric tons of carbon dioxide being released into the air. That upward measure is equal to half the annual carbon output of China
Court updates
Press freedom case Southern District of New York District Judge Lorna Schofield ruled that a literary advocacy group’s lawsuit against Trump for allegedly violating the First Amendment can move forward. The group, PEN America, is pursuing claims that Trump “has used government power to retaliate against media coverage and reporters he dislikes.” Schofield determined that PEN’s allegation that Trump made threats to chill free speech was valid, providing as an example the White House’s revocation of CNN correspondent Jim Acosta’s press press corps credentials:
”The threats are lent credence by the fact that Defendant has acted on them before, by revoking Mr. Acosta’s credentials and barring reporters from particular press conferences. The Press Secretary indeed e-mailed the entire press corps to inform them of new rules of conduct and to warn of further consequences, citing the incident involving Mr. Acosta… These facts plausibly allege that a motivation for defendant’s actions is controlling and punishing speech he dislikes.”
Twitter case The president suffered another First Amendment defeat last week when the full 2nd Circuit Court of Appeals declined to review a previous ruling that prevents Trump from blocking users on the Twitter account he uses to communicate with the public. Judge Barrington D. Parker, a Nixon-appointee, wrote: “Excluding people from an otherwise public forum such as this by blocking those who express views critical of a public official is, we concluded, unconstitutional.” Trump-appointees Michael Parker and Richard Sullivan authored a dissent, arguing the free speech “does not include a right to post on other people’s personal social media accounts, even if those other people happen to be public officials.” Park warned that the ruling will allow the social media pages of public officials to be “overrun with harassment, trolling, and hate speech, which officials will be powerless to filter.” Florida’s felon voting U.S. District Judge Robert Hinkle ripped into Florida Governor Ron DeSantis’s administration for failing to come up with a process to determine which felons are genuinely unable to pay court-ordered fees and fines, which are otherwise required to be paid before having their voting rights restored. “If the state is not going to fix it, I will,” Hinkle warned. He had given the state five months to come up with an administrative process for felons to prove they’re unable to pay financial obligations, but Florida officials did not do so. The case is set to be heard on April 28 (notwithstanding any coronavirus-related delays).
ICE, Jails, and COVID-19
ICE One of the most overlooked populations with an increased risk of death from coronavirus are those in detention facilities, which keep people in close quarters with little sanitation or protective measures (including for staff). Last week, U.S. District Judge Dolly Gee ordered the federal government to “make continuous efforts” to release migrant children from detention centers across the country. Numerous advocacy groups asked for the release after reports that four children being held in New York had tested positive for the virus:
“The threat of irreparable injury to their health and safety is palpable,” the plaintiffs’ lawyers said in their petition… both of the agencies operating migrant children detention facilities must by April 6 provide an accounting of their efforts to release those in custody… “Her order will undoubtedly speed up releases,” said Peter Schey, co-counsel for the plaintiffs in the court case.
On Tuesday, 13 immigrants held at ICE facilities in California filed a lawsuit demanding to be released because their health conditions make them particularly vulnerable to dying if infected by the coronavirus. An ACLU statement says the detainees are “confined in crowded and unsanitary conditions where social distancing is not possible.” The 13 individuals are all over the age of 50 and/or suffering from serious underlying medical issues like high blood pressure.
“From all the evidence we have seen, ICE is failing to fulfill its constitutional obligation to protect the health and safety of individuals in its custody. ICE should exercise its existing discretion to release people with serious medical conditions from detention for humanitarian reasons,” said William Freeman, senior counsel at the ACLU of Northern California.
Meanwhile, ICE is under fire for continuing to shuttle detainees across the country, with one even being forced to take nine different flights bouncing from Louisiana to Texas to New Jersey less than two weeks ago. That man is Dr. Sirous Asgari, a materials science and engineering professor from Iran, who was acquitted last year on federal charges of stealing trade secrets. The government lost its case against him, yet ICE has had him in indefinite detention since November.
Asgari, 59, told the Guardian that his Ice holding facility in Alexandria, Louisiana, had no basic cleaning practices in place and continued to bring in new detainees from across the country with no strategy to minimize the threat of Covid-19...Detainees have no hand sanitizer, and the facility is not regularly cleaning bathrooms or sleeping areas…Detainees lack access to masks… Detainees struggle to stay clean, and the facility has an awful stench.
Jails State jails are making a better effort to release detained individuals, as both New York and New Jersey ordered a thousand people in each state be let out of jail. The order applied only to low-level offenders sentenced to less than a year in jail and those held on technical probation violations. In Los Angeles County, officials released over 1,700 people from its jails. A judge in Alabama took similar steps last week, ordering roughly 500 people jailed for minor offenses to be released to lessen crowding in facilities. Unlike in New York and New Jersey, however, local officials reacted in an uproar, led in part by the state executive committee for the Alabama Republican Party and Assistant District Attorney C.J. Robinson. Using angry Facebook messages as the barometer of the community’s feelings, Robinson worked “frantically” to block inmates from being released.
Reuters: As of Saturday, at least 132 inmates and 104 staff at jails across New York City had tested positive for COVID-19, the disease caused by the coronavirus… Since March 22, jails have reported 226 inmates and 131 staff with confirmed cases of COVID-19, according to a Reuters survey of cities and counties that run America’s 20 largest jails. The numbers are almost certainly an undercount given the fast spread of the virus.
Tribe opposed by Trump loses land
On Wednesday, The Federal Bureau of Indian Affairs announced the Mashpee Wampanoag Tribe’s reservation would be "disestablished" and its land trust status removed. Tribal Chairman Cedric Cromwell called the move "cruel" and "unnecessary,” particularly coming in the midst of a pandemic crisis. Rep. Bill Keating (D-Mass.), who last year introduced legislation to protect the tribe's reservation as trust land in Massachusetts, said the order “is one of the most cruel and nonsensical acts I have seen since coming to Congress.” The administration’s decision is especially suspicious as just last year Trump attacked the tribe’s plan to build a casino on its land, tweeting that allowing the construction would be “unfair” and treat Native Americans unequally. As a former casino owner, Trump has spent decades attacking Native American casinos as unfair competition. At a 1993 congressional hearing Trump said that tribal owners “don’t look like Indians to me” and claimed: “I might have more Indian blood than a lot of the so-called Indians that are trying to open up the reservations” to gambling. More than his past history, however, Trump has current interests at play in the Mashpee Wampanoag’s planned casino: it would have competed for business with nearby Rhode Island casinos owned by Twin River Worldwide Holdings, whose president, George Papanier, was a finance executive at the Trump Plaza casino hotel in Atlantic City.
In the Mashpee case, Twin River, the operator of the two Rhode Island casinos, has hired Matthew Schlapp, chairman of the American Conservative Union and a vocal Trump supporter, to lobby for it on the land issue. Schlapp’s wife, Mercedes, is director of strategic communications at the White House.
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