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Jeff Bezos gains $24 billion while world’s rich reap bailout rewards

first_imgCarnival board member Randall Weisenburger bought $10 million of stock in the beleaguered cruise-line operator last week. The shares have jumped 56 percent since the purchase.Workers in protective gear walk near the Diamond Princess cruise ship, operated by Carnival Corp., docked in Yokohama, Japan, on Friday, Feb. 7, 2020. Japan confirmed 41 more cases of the new coronavirus aboard the quarantined cruise ship, and denied entry to another vessel as it sought to control the spread of the deadly infection, with thousands now stranded on stricken luxury liners. (Bloomberg/Toru Hanai)Others are going further to maximize returns. UBS Group AG is seeing ultra-wealthy clients ramp up borrowing to place more wagers in what they see as a cheap market. Mortgage brokers to the rich have said more clients are seeking loans backed by real estate to help them repay other debt, invest in businesses and snap up other assets.There have been massive losers among the moneyed set. Many in the oil and gas industry have been hammered by the collapse in crude prices including wildcatter Harold Hamm, whose fortune is down 64 percent to $3.7 billion. Emerging-market billionaires aren’t reaping the same rewards as those in the US and there have been margin calls and forced sales.But there also have been remarkable gains.Leading the group is Bezos, who has added almost $24 billion to his fortune in 2020, as well as MacKenzie Bezos, who was left with a 4 percent stake in Amazon as part of the couple’s recent divorce settlement. Her net worth has climbed $8.2 billion to $45.3 billion, and she’s now No. 18 on the Bloomberg wealth ranking, ahead of Mukesh Ambani, India’s richest person, and Mexico’s Carlos Slim.In this file photo taken on April 24, 2018 Amazon CEO Jeff Bezos and his wife MacKenzie Bezos poses as they arrive at the headquarters of publisher Axel-Springer where he will receive the Axel Springer Award 2018 in Berlin. (dpa/AFP/Jorg Carstensen)Shares of rival retailer Walmart have also advanced, buoying the fortunes of the world’s richest family. Alice, Jim and Rob Walton now have a combined net worth of $169 billion, up almost 5 percent since the start of the year.Tesla Chief Executive Officer Elon Musk has added $10.4 billion to his fortune this year, more than anyone except Bezos.The fortune of Zoom Video Communications founder Eric Yuan has more than doubled to $7.4 billion, as demand for its teleconferencing service exploded in the wake of the pandemic-driven lockdown.“The unfairness of it all is who is going to benefit from it most,” Maley said. “Money makes money.”Topics : The world’s richest person is getting richer, even in a pandemic, and perhaps because of it.With consumers stuck at home, they’re relying on Jeff Bezos’s Amazon.com more than ever. The retailer’s stock climbed 5.3 percent to a record Tuesday, lifting the founder’s net worth to $138.5 billion.The pandemic has brought the global economy to a near standstill and pushed almost 17 million Americans onto the unemployment rolls in the span of three weeks. JPMorgan Chase and Wells Fargo signaled Tuesday that loan losses fueled by the unprecedented job cuts — many of them in the retail sector that Amazon so efficiently disrupted — could rival those incurred after the 2008 financial crisis. Yet Bezos and many of his wealthy peers have seen their fortunes recover in recent weeks, helped by the boost given to markets by unprecedented stimulus efforts by governments and central bankers. While the combined net worth of the world’s 500 richest people has dropped $553 billion this year, it has surged 20 pecent from its low on March 23, according to the Bloomberg Billionaires Index“The wealth gap, it’s only going to get wider with what’s going on now,” said Matt Maley, chief market strategist at Miller Tabak + Co. “The really wealthy people haven’t had to worry. Yes, they’re less wealthy, but you haven’t had to worry about putting food on the table or keeping a roof over your head.”It’s not just the billionaires. Corporate insiders have been significant buyers of their companies’ shares, a show of confidence that the crisis will pass, even as the nation’s leaders debate exactly when Americans can safely return to work.The volume of transactions in beaten-down industries, from travel to health care to gaming, suggests executives and directors are more bullish than they’ve been at most other points in the past decade, according to Sundial Capital Research.last_img read more

“Miracle Woman” Survives Six-Hour Cardiac Arrest

first_imgA British woman has made a full recovery, after her heart stopped beating for six hours due to severe hypothermia.Officials report that 34-year-old Audrey Schoeman got caught in a snowstorm while hiking in the Pyrenees mountain range in Spain last month.Her husband, Rohan, called for help. He says, “I thought she was dead. I was trying to feel for a pulse… I couldn’t feel a breath, I couldn’t feel a heartbeat.”Schoeman was taken to a hospital, where Dr. Jordi Riera treated her. He says Schoeman’s situation is very rare, since the human brain typically suffers irreparable damage if the heart stops beating for five minutes.The doctor adds, “What happened to her is a consequence of the drop in body temperature.” Apparently, Schoeman survived because the extreme drop in body temperature that stopped her heart also slowed down her brain metabolism. That allowed her heart to cope more effectively with the lack of oxygen.Schoeman’s body temperature had dropped to 64.4 Fahrenheit, as opposed to the normal 97.7-99.5 Fahrenheit range. Riera and his medical team used an extracorporeal membrane oxygenation (ECMO) machine in order to keep her alive.ECMO replaces the heart and lung functions. That allowed the doctors to oxygenate Schoeman’s blood and pump it around the body.Riera says Schoeman’s body slowly warmed up until her heart started beating again after six hours.“She woke up and asked: ‘What am I doing here?’” Riera says.The woman suffered a slight loss of sensitivity in her hands, but should make a full recovery.Riera adds, “As a scientist I don’t like the word but it’s like a miracle.”According to Schoeman, “It’s like a miracle except I think it’s all because of the doctors. Probably this winter I won’t go to the mountains, but I hope that in spring we will be able to start hiking and trekking again. I don’t want this to take away that hobby from me.”last_img read more

Iran Retaliates by Launching Missiles at US Base in Iraq

first_imgIran has started its retaliation “Operation Revenge” for Soleimani’s death by striking multiple US bases in Iraq, with what it seems to be dubbing “Operation Qassem Soleimani.” In a departure from their usual practice, the IRGC are claiming the attack, whose stated objective is to drive US out of the region.Iran has launched surface to air missile’s and at the base housing American troops in a Iraq.The attack was launched at the same time that the general was killed by a drone missile five days ago outside the Baghdad airport.last_img read more

TSA reports more guns seized from airports in 2019 than ever before

first_imgFort Lauderdale-Hollywood International Airport — 100 firearms recoveredOrlando International Airport — 96 firearms recoveredTampa International — 87 firearms recoveredThe continued increase in the number of firearms that travelers bring to airport checkpoints is deeply troubling,” TSA Administrator David Pekoske said.If travelers are not safely traveling with their guns they can be arrested and face civil penalties.Check out this video by the TSA explaining tips on traveling with a gun: Many Americans were traveling with heat in 2019. According to the Transportation Security Administration (TSA) more guns were confiscated in the United States last year than ever before in the agency’s history.The TSA reports 4,432 firearms were discovered in carry-on bags or on passengers at checkpoints in 2019—87% of which were loaded.In Florida,the TSA recovered a total of 283 firearms:last_img read more

Judge says mothers confession may be used against Palm Beach County mother accused of dumping baby

first_imgA  judge says that a confession made by 35-year-old Rafaelle Alessandra Carbalho Sousa will be allowed at trial.Sousa is accused of abandoning her newborn baby in a dumpster in suburban Boca Raton last year, a Palm Beach County judge says.Judge Kirk Volker ruled that the confession made will be allowed at trial.The Palm Beach County Sheriff’s Office said Sousa told investigators she delivered a baby girl on May 8, 2019, then wrapped the newborn in a plastic bag and put her in a dumpster at an apartment complex near Boca Entrada Blvd.Sousa’s lawyers wanted her confession to PBSO detectives thrown out, arguing that Sousa was not read her Miranda rights properly before speaking with detectives.Prosecutors argued it wasn’t necessary to give Sousa her Miranda rights at the time.Sousa has pleaded not guilty to attempted felony murder and child abuse.last_img read more

Thurston County REALTORS End the Year with More Giving

first_imgFacebook158Tweet0Pin0Submitted by Thurston County REALTORSThurston County REALTORS Association (TCRA) installed their 2019 officers and board and raised money for several charities at their Installation Luncheon and Holiday Charity Auction on December 6, 2018. The annual event drew nearly 200 attendees and was held at Indian Summer Golf & Country Club in Olympia, Wash.Wreaths, arrangements and gift baskets contributed by local businesses and individuals lined the large ballroom at the country club for the Holiday Charity Auction that raised more than $7700, a record amount for what has become a yearly event. The money raised by each item went to the charity chosen by the item’s winning bidder.At the event, REALTORS also presented a $6000 check—part of the proceeds from the Association’s annual fundraising golf tournament last September—to the Thurston County Food Bank. The Association had also donated a portion of the money raised at the tournament to the REALTOR Relief Fund that provides help for those who experience devastating loss from disasters like the recent California wildfires.Newly installed TCRA President Kevin Gordham says that in 2019, REALTORS will continue their many charitable activities that contribute so much to local Thurston County communities.“We are out in the community daily helping clients find or sell a home here and the quality of life we all enjoy is one of the biggest attractions to the area,” says Gordham. “Our Association members are dedicated to community giving and support.”Thurston County REALTORS have installed their 2019 officers. Photo courtesy: Thurston County REALTORSThe 2019 officers installed at the event are:President: Kevin Gordham, Keller Williams Realty South SoundPresident-elect: Christina Janis, Epic RealtyTreasurer: Kim Torres, Academy MortgageTreasurer-elect: Necia Leach, Thurston County TitleSecretary:  Michelle Mewhinney-Angel, Windermere Real Estate/OlympiaPast-president: Tonia DeBeaux, John L Scott, Puyallup Main Along with its officers, 10 of the local organization’s board members were also sworn in.A day following the Luncheon, about 100 TCRA members, many of whom donned Santa hats and other festive wear, rang bells and sang carols in front of several area stores to help fill the traditional Salvation Army’s Red Kettles during Thurston County REALTORS® Ring Day.Many REALTOR Associations across Washington state and the U.S. participate in Ring Days in December. TCRA has participated in their event organized by REALTOR® Gregory Moe of Windermere Real Estate/Olympia for the last several years. This year, they helped raise more than $18,700 for the Salvation Army–Olympia Corps.“The enthusiasm for the day was incredible,” added Gordham. “Our members devote their time to help the less fortunate. We are motivated by our care for the community, the wonderful place where we help people find a home. Ring Day is just one of the local REALTORS’ charitable activities in a year that is filled with giving.”The Thurston County REALTORS Association is a professional trade association of more than 700 REALTOR and Affiliate members and is dedicated to protecting homeownership, ethics and professionalism within the real estate industry.last_img read more