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American Vs British ‘ism’s.

TECH TODAY

Automattic And WP Engine Feud: A California district court judge has ordered Automattic, parent company of WordPress.com, and its CEO, Matt Mullenweg, to reinstate WP Engine’s access to wordpress.com. The decision highlights the ongoing tensions within the WordPress community and underscores legal boundaries of access.

Reddit feeding AI: Artificial-intelligence companies were one of Reddit’s (RDDT) -6.73 decrease, but they are down pointing triangle of biggest frustrations last year. Now they are a key source of growth for the social-media platform. 

China Comes After Nvidia: China has launched an antitrust investigation into U.S. chip giant Nvidia, just days after Washington tightened controls on high-end semiconductor exports to Beijing. The timing, with Donald Trump poised to return to office, further underscores the geopolitical stakes.

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HEADLINE NEWS 👀

Sports is in the news: Below the PGA and LIV look to wed and a monster MLB contract.

PGA Tour and LIV Golf Near $ Billion Deal Amid Antitrust Hurdles

The chambers of congress certainly do not resemble the stools of the 19th hole, but it appears the PGA Tour and Saudi Arabia’s Public Investment Fund (PIF) are going to need to post up and hang together as they await antitrust decisions by the Justice Department. They are closing in on a $1.5 billion investment deal which could reshape professional golf, despite delays and scrutiny from the U.S. Justice Department over potential antitrust violations.

The proposed agreement, which grants PIF a minority stake in PGA Tour Enterprises, follows months of stalled negotiations after the shocking announcement in 2023 that the two rivals would merge. The deal aims to reunite the fractured golf world, torn apart since the launch of LIV Golf in 2022, which lured stars like Phil Mickelson and Brooks Koepka with massive paydays, leading to lawsuits and fierce animosity.

The golf buddies are optimistic the incoming Trump administration, seen as business friendly, could expedite approval. President elect Trump has expressed confidence, claiming it would take him “15 minutes” to finalize the deal.

For now, the deal represents more than financial alignment. PIF’s backing would provide critical funding for the PGA Tour, while LIV gains credibility after struggling to engage fans and create a sustainable business model.

Even with antitrust hurdles cleared, significant challenges remain. Reintegrating players, addressing lingering tensions, and uniting a divided sport is seen as challenging. Despite the long delays the hope is a resolution could soon pave the way for golf’s top stars to compete under one banner again.

Court Blocks Kroger Acquisition Of Albertsons

Judge Adrienne Nelson blocked Kroger's $24.6 billion bid to acquire Albertsons, siding with the FTC's claim that the merger would harm competition. She dismissed Kroger’s proposal to sell 579 stores to C&S Wholesale Grocers as insufficient to offset the loss of market rivalry, preserving the current competitive supermarket landscape.

Antivirus Gen Digital Acquires MoneyLion For $1 Billion

Gen Digital announced plans to acquire MoneyLion in a $1 billion deal, offering $82 per share in cash. The merger, expected to close in fiscal 2026, will expand Gen’s offerings to include financial management tools. MoneyLion shareholders may also receive additional payments tied to Gen’s stock performance. Both companies’ boards approved the acquisition.

Mets Snag Juan Soto Changing Baseball Forever

For decades, the New York Yankees ruled Major League Baseball’s financial landscape. But in a seismic shift, Mets owner Steve Cohen has toppled the balance of power by signing superstar Juan Soto to a record-breaking 15-year, $765 million contract, with escalators potentially bringing the total to $805 million.

The Yankees, who saw Soto’s impact firsthand during his brief stint in pinstripes, fought fiercely to retain him. The Mets signed Soto to a 16-year $760 million contract marked one of the largest in sports history, but it fell short of Cohen’s seemingly limitless resources. Soto’s decision to head across the East River marks a pivotal moment in New York baseball history, signaling the Mets’ rise under Cohen’s leadership.

Since purchasing the Mets for $2.4 billion in 2020, Cohen—one of the world’s wealthiest individuals, with a net worth exceeding $21 billion—has redefined the franchise’s ambitions. Backed by his financial might, the Mets have transformed into serious contenders, reaching the National League Championship Series in 2024.

Cohen’s willingness to outspend even the Yankees, long synonymous with baseball dominance, has reshaped the competitive landscape. The Yankees, led by Hal Steinbrenner, once dictated player markets but now face a rival unbound by traditional spending limits.

Soto’s signing is about more than money—it’s a statement. For decades, the Yankees’ prestige and pedigree attracted the game’s brightest stars. Now, the Mets have become a destination, signaling a new era where Cohen’s deep pockets challenge New York’s baseball hierarchy.

For the Yankees, this loss stings deeply. For the Mets, it’s a crowning moment.

GM Shutters Cruise Reversing Direction On Robotaxi

General Motors is ending its Cruise robotaxi division after investing over $10 billion, citing market competition and high costs. The unit will be integrated into GM’s broader tech teams to focus on autonomous systems for personal vehicles. GM aims to reduce Cruise-related costs by over half, reallocating resources for future development.

Cruise, once a leader in the U.S. robotaxi market, faced setbacks, including regulatory fines and leadership issues following a serious crash. Meanwhile, rivals like Waymo and Tesla continue expanding in the autonomous vehicle space. GM expects to fully acquire Cruise shares by 2025, signaling a strategic pivot.

United Natural Foods Inc. (UNFI) shares surged 29% Tuesday to $31.94 after it exceeded Wall Street expectations in its first-quarter earnings report. The company raised its full-year sales forecast. The stock, which hit a 52-week high of $32.12 is up nearly 97% year-to-date.

The Providence, Rhode Island based distributor of natural and organic foods reported a narrower quarterly loss of $21 million, or 35 cents per share, compared to $39 million, or 67 cents per share, in the same period last year. Adjusted earnings came in at 16 cents per share, outperforming analysts’ expectations of a two-cent loss.

Revenue rose 4.2% yoy to $7.87 billion. The company raised its full-year revenue outlook range $30.6 billion to $31 billion. The improved performance reflects growth in the natural food sector and strong operational execution as UNFI continues to capture marketshare.

💰️ Smart Money Matters 💰️ 

SMALL BUSINESS BREAKING NEWS

Corporate Transparency Act (CTA)

12/4/24 Update: A federal court has halted the implementation of the Corporate Transparency Act’s beneficial ownership reporting requirements. This will remain in effect until the conclusion of legal proceedings. As of this update, businesses are not required to comply with the reporting requirements.

The Corporate Transparency Act that went into effect January 1, 2024 was designed to combat money laundering and illicit illegal activities by requiring businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FenCEN).

The CTA required small businesses to disclose personal information about their owners that included names, addresses, and identification numbers.

Compliance required businesses to meet the reporting guidelines and submit the required information no later than January 1, 2025 or face steep penalties.

ECONOMY

Federal Reserve This Week

The Federal Reserve reports the Consumer Price Index (CPI) Wednesday morning. Later in the week the Fed reports U.S. Import & Export Prices Friday morning.

Fed Signals Slower Rate Cuts Economy Resilient

Federal Reserve Chair Jerome Powell suggested a more cautious approach to rate cuts, citing a stronger-than-expected economy. The Fed has reduced rates at its last two meetings, including a quarter-point cut in November to a range of 4.5%-4.75%.

Investors widely anticipate another quarter-point cut at the December 17-18 meeting, with futures markets pricing in a 75% likelihood. Powell, however, emphasized the need for caution as the Fed seeks a “neutral” rate that neither spurs nor slows growth.

Inflation has moderated but remains uneven, with core prices rising 2.8% in October—above the Fed’s 2% target. Upcoming employment and inflation reports will guide the Fed’s decision.

Powell also refrained from speculating on the economic impact of President-elect Donald Trump’s policies, including potential tariffs on Canada and Mexico, which could add uncertainty to the outlook.

FINANCE

Private Equity in Accounting Raises SEC Concerns

A wave of private equity investments in midsize U.S. accounting firms, including Grant Thornton, PKF O’Connor Davies, and Carr Riggs & Ingram, has sparked scrutiny from regulators. SEC Chief Accountant Paul Munter warns these deals could threaten audit independence and shift firms away from their public-interest focus. While private equity can fund technology and talent, Munter stresses proactive risk management is essential.

He also highlighted ethical lapses in the profession, including exam cheating and backdating work papers, as troubling trends. As new SEC leadership looms, Munter aims to maintain focus on audit quality and address evolving accounting challenges.

Dollar Tree Management Woes Continue

Dollar Tree announced CFO Jeff Davis will resign after fiscal 2024, following the recent departure of CEO Rick Dreiling. Strong Q3 earnings beat expectations, prompting a sales guidance boost to $30.7-$30.9 billion. Interim CEO Mike Creedon, cited merchandising success, but noted ongoing strategic reviews, including a potential sale of Family Dollar.

POLITICS

David Sachs White House AI and crypto czar

Tech investor David Sacks, known for his controversial views and combative style, has been appointed as the White House AI and crypto czar. A Silicon Valley figure with a significant influence, Sacks co-founded Craft Ventures and invested heavily in AI and crypto, including Elon Musk’s xAI. His role could spark conflicts of interest unless he divests these holdings or secures a presidential waiver, ethics experts warn.

Sacks has long been a vocal supporter of conservative causes, helping fund President-elect Donald Trump’s campaign and critiquing the Biden administration. His background includes co-founding PayPal, producing Thank You for Smoking, and hosting the influential All-In podcast, amplifying his libertarian views.

Laura Trump Resigns From RNC

Laura Trump, President elect Trump’s daughter in-law, announced she is stepping down as co-chair of the RNC. Her decision comes amid speculation Florida Governor Ron DeSantis will appoint her to a U.S. Senate seat, once it is vacated by Senator Marco Rubio who was selected to serve as Trump’s Secretary of State.

THE GRIND FACTORY ⚙️

UNIQUELY INTERESTING

💡 Epiphany Moments

A simple idea and a small investment create an interesting service behemoth.

In 1989 a 19 year old waiting in line at a McDonald’s drive thru in Vancouver, BC noticed a sign on the side of a beat up truck “junk removal”. Inspired Brian Scudamore came up with the thought that he could do better. Scudamore took $1,000 and started Rubbish Boys.

The investment amounted to the purchase of a $700 F-100 pickup truck with the remaining 30% spent on marketing materials. His goal was to create a professional and efficient junk removal service. The business gained traction and by years end he was able to pay his college tuition.

The company continued to enjoy success and grow then in 1998 rebranded into the well known 1-800-GOT-JUNK. Today the company operates in multiple countries and has become a leader in the junk removal business.

 🍎 One Smart Apple

When marrying right is right. Stan Kroenke is a billionaire whose wealth stems from both his entrepreneurial ventures and his connection to the Walton family, heirs to the Walmart fortune.

Kroenke's self-made success began with the Kroenke Group, a real estate development firm he founded in 1983. Kroenke Group specializes in shopping centers and apartment complexes. He expanded his empire by acquiring major sports franchises through Kroenke Sports & Entertainment owns the Los Angeles Rams, Denver Nuggets, Colorado Avalanche, and Arsenal F.C.

However, his marriage to Ann Walton in 1974, a Walmart heiress, significantly bolstered his financial foundation. This connection to one of the world's wealthiest families provided access to additional resources and opportunities that have shaped his rise 🍏 

 HEALTH & LONGEVITY •ᴗ•

The Essential Ingredient To Enjoy Longevity

A growing body of research emphasizes the importance of healthspan, the years spend enjoying good health, to be a more critical metric than lifespan. This is what the experts are saying:

Healthspan focuses on living healthier, not just longer, bridging the gap between the total years lived and the quality of those years. The period of life during which a person is in good health, free from chronic diseases or disabilities. Unlike lifespan, which measures the total years of life, healthspan focuses on the quality of those years, emphasizing vitality and functional independence.

How to Maximize Healthspan:

• Nutrition: Focus on anti-inflammatory foods (fruits, vegetables, healthy fats), avoid processed sugars, and consider intermittent fasting for cellular repair.

• Exercise: Combine aerobic activities, strength training, and balance exercises like yoga to maintain mobility and heart health.

• Sleep: Get a good nights sleep aiming for 7–9 hours with a consistent sleep.

• Stress Management: Practice mindfulness, meditation, or hobbies. Keep chronic stress to a minimum.

• Social Connections: Stay connected with friends and loved ones. Build new relationships and engage in community to combat loneliness.

• Brain Health: Stay sharp with puzzles, reading, or learning new skills; read The Grind Newsletter daily 😊 

• Avoid Harmful Habits: Quit smoking (yes, vapes too) and limit alcohol.

• Health Monitoring: Track key metrics e.g., blood pressure, cholesterol. Proactively seek out preventive care.

Focus on healthspan to ensure a long life, and vibrant enjoyable living.

🎁 Happy Holiday’s  🎄

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