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Culture Corner

Holly Toledo, after winning $442,800 yesterday a Kentucky man is breathing a sigh of relief following the Philadelphia Eagles 22-16 win over the Carolina Panthers.

To earn his winnings the man risked $3.1 million, the largest regular season NFL game bet that’s known. Carolina made for an exciting game leading 16-14 going into the 4th quarter nearly putting the final touch on a win with the following play.

TECH TODAY

Riverside Podcast Company Raises Series C Funding: Riverside raised $30 million in a Series C round. Investors included Reddit founder “Alex Ohanian said that he was personally looking for solutions to help him record podcasts. It was a “game recognize game” moment after discovering Riverside.”

How To Evaluate AI LLMs: Launching AI LLMs in your business processes? Here’s a guideline on how to evaluate the work of the LLMs in laymen’s term; mostly 🥸

Facial Recognition Avoidance: Whether going to the supermarket, the airport, or just being friends with a super poster on social media facial recognition is everywhere. Four university professors talk candidly about changing your face or altering appearance to avoid facial recognition detection.

 🎁 Happy Holidays 🎄

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 🎄 Happy Holidays 🎁🎅🎎🪔🧑‍🎄🤶

HEADLINE NEWS 👀

Home Insurance Strained Nationwide No End In Sight

Fannie Mae and Freddie Mac face growing financial risks from climate change,

Fannie Mae and Freddie Mac, which underwrite half of U.S. mortgages, face mounting risks from climate change, including floods, wildfires, and rising sea levels. Despite growing evidence of overvalued properties in high-risk areas—estimated at $187 billionand increasing insurance costs straining homeowners, the Federal Housing Finance Agency (FHFA) has issued only vague guidance to address these threats.

Early in the Biden administration, regulators highlighted the mortgage market as a key vulnerability to climate change. However, political concerns over raising housing costs in low income, high risk areas have stalled significant action. Rising insurance premiums and disasters striking outside designated flood zones further expose the enterprises to financial instability.

Proposed solutions include income based fees, mandatory climate-resilient home features, and relocation subsidies. However, political resistance, especially from high risk states like Florida, complicates efforts to incorporate climate risks into mortgage pricing.

Advocates warn that without major reforms, the mortgage system could face destabilization in the coming decades, leaving taxpayers and homeowners vulnerable to financial fallout. While experts stress the urgency of addressing these risks, meaningful progress remains elusive amid political and economic challenges.

The New Wealth Generator - Tender Offers

Tender Offers Gain Popularity as Private Companies Seek Liquidity Solutions.

If you’re an employee at a private company that has done well your bosses may be wealthy as a result of partial share sales but that opportunity may not have been made available to you. Private companies are now increasingly turning to tender offers as a strategic way to provide liquidity to employees and early investors.

Ulta Beauty Shares Surge on Upbeat Sales Outlook

Ulta Beauty Inc. saw its shares jump 12% in after-hours trading on Thursday after the cosmetics retailer raised its full-year sales forecast, signaling progress in its efforts to combat declining demand and intensifying competition.

The company now projects annual revenue between $11.1 billion and $11.2 billion, slightly up from its previous forecast of $11 billion to $11.2 billion. Same-store sales are expected to range from a 1% decline to flat, an improvement over the earlier forecast of a 2% decline to flat. Adjusted earnings per share are also revised upward to a range of $23.20 to $23.75, compared to the prior estimate of $22.60 to $23.50.

“I am proud of the progress we’ve made and encouraged by early signs that our efforts to reinforce our market position and drive improved performance are gaining traction,” Ulta CEO Dave Kimbell said in a statement.

Ulta’s quarterly performance exceeded Wall Street’s expectations. Analysts polled by FactSet had anticipated earnings of $4.53 per share, revenue of $2.49 billion, and a same-store sales decline of 1.9%.

Challenges in a Competitive Market even with the upbeat results. Ulta operates in a period of heightened competition in the beauty industry, with mass market retailers like Walmart and Amazon ramping up their offerings of premium beauty products. Despite these challenges, Ulta’s strategic initiatives appear to be paying off.

Although the company’s stock remains down nearly 20% year to date, the improved guidance and Thursday’s rally suggest renewed investor confidence as Ulta works to maintain its leadership in the evolving beauty market.

Syria’s Government Falls To Rebel Forces

Syria’s Armed Opposition Declares Assad’s Fall a Victory for Islamic Nation. Abu Mohammad al-Jolani, leader of the opposition group Hayat Tahrir al-Sham (HTS), celebrated the fall of Syrian President Bashar al-Assad as a victory for the Islamic world. Speaking at the Umayyad Mosque in Damascus, Jolani declared the moment a turning point in regional history.

“This triumph marks a new chapter for the region,” Jolani said, framing Assad’s ousting as a blow to Iranian influence and sectarianism in Syria. Iran and Hezbollah had been major backers of Assad during the war.

Jolani emphasized HTS's role in freeing those oppressed by the Assad regime and praised the efforts of the Mujahideen for "purifying" Syria. Reflecting on his return to Damascus after two decades, he remarked, “Every Syrian household has suffered from the war. Praise be to God, today Syria is recovering.”

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

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.

Scotts Miracle Gro Management Shakeup

Scotts Miracle Grow CFO, Matt Garth, will exit the world largest producer of branded lawn and garden products at the end of 2024 in an abrupt ending as the company looks towards the next phase of its growth strategy.

The company also announced the two executive advancements to help fill the void until a permanent replacement is found for the CFO role.

POLITICS

Trump Previews Contentious Agenda for First Days

President elect Trump outlined an ambitious and contentious plan for his early days in office during a Meet the Press interview, emphasizing hardline immigration policies, potential pardons for January 6 defendants, and the possibility of investigations into his political opponents. At the same time, he expressed an openness to bipartisan cooperation on specific issues, including the legal status of “Dreamers.”

Immigration Crackdown: Trump reaffirmed his commitment to mass deportations, initially targeting migrants with criminal records, though he suggested the efforts could expand to others who entered the country illegally. He also doubled down on a campaign promise to end birthright citizenship, which is protected under the 14th Amendment, and suggested he could achieve this through executive action.

While emphasizing tough immigration measures, Trump signaled a willingness to work with Democrats on a plan to address the status of “Dreamers,” immigrants brought to the U.S. as children. “We have to do something about the Dreamers,” Trump said. “I will work with the Democrats on a plan...but the Democrats have made it very, very difficult to do anything.”

January 6 Pardons and Investigations: Trump pledged to issue pardons for individuals convicted in connection with the January 6, 2021, attack on the U.S. Capitol, claiming they have been subjected to inhumane conditions in prison. Nearly 1,200 people have been charged in connection with the riot, and many have served jail time.

He also suggested that members of Congress who served on the January 6 committee, including former Rep. Liz Cheney and Rep. Bennie Thompson, should “go to jail” for their role in investigating his actions. However, Trump insisted he would not instruct his Justice Department to pursue retribution against his political opponents, leaving such decisions to his appointees, including Attorney General nominee Pam Bondi.

Economic and Foreign Policy: Trump teased plans to impose new tariffs on major trade partners like Mexico, Canada, and China, arguing that such measures would create a fairer economic playing field for the U.S. However, he acknowledged that these tariffs could lead to higher prices for American consumers.

On foreign policy, Trump reiterated his isolationist stance, refusing to commit to maintaining U.S. membership in NATO if allies fail to increase their defense spending. He also hinted at reducing U.S. aid to Ukraine, saying, “Possibly, probably, sure,” when asked if Kyiv should expect less support.

Calls for Unity Amid Divisive Rhetoric: Throughout the interview, Trump alternated between calls for national unity and divisive rhetoric. He said he plans to make unity a central theme of his inauguration address, but he refused to concede the 2020 election and continued to label President Joe Biden as “corrupt” and a “criminal.”

Trump’s comments highlight the polarizing nature of his upcoming presidency, blending promises of collaboration with controversial and far-reaching policy proposals. His remarks set the stage for an administration that could significantly reshape the nation’s political and social landscape.

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

The Rise of Raising Cane’s: from a C- College Grade to Global Success

Way back in 1996, Todd Graves turned a dismissed idea into a global fast food phenomenon. He partnered with friend Craig Silvey and together they envisioned a restaurant centered around a single menu item; chicken fingers.

Their idea was so brilliant that when they submitted their business plan as part of an in-class project at Louisiana State University they received a C- on the submission.

Committed to the idea Graves worked long hours at an oil refinery and fished for sockey salmon in Alaska. He eventually secured enough money and a small loan to open the first Raising Cane’s Chicken Fingers near LSU’s campus in Baton Rouge. Name after Graves yellow Labrador, the restaurant quickly drew crowds with simple, but high quality menu of chicken fingers, fries, coleslaw, and Texas toast.

Success was a ways off, and Silvey sold his stake after the second location opened 😩

Graves believed gravely in the restaurant and pressed on. Cane’s early focus on consistency and excellence has paid off. Today, Raising Canes has 800 locations worldwide, with a continuous philosophy of doing one thing really well.

What started as a passion project has become a line inducing location sparse fast food icon. Proving perseverance and simplicity are a winning recipe for success🍏 

 HEALTH & LONGEVITY •ᴗ•

Abdominal Fat Increases Early Death Risk By 365% In Non-Obease

Researchers in Italy and Slovenia found that a larger waistline correlates with a 365% increase in the risk of death.

Key Findings:

• New Measurement: the study used a body shape index (ABSI) which considers waist circumference, weight, and height, unlike traditional BMI.

• Study Participants: 159 elderly, non-obese, physically active adults, with 50% being smokers and 30% having high blood pressure.

• Health Indicators: lower ABSI scores were linked to better cardiovascular fitness (VO2 Max) and lower blood pressure.

• Mortality Rates: Over a 10 year period participants with higher ABSI scores had a significantly higher mortality rate.

Mitigating Risk:

• Senolytics: compounds that remove senescent cells may reduce the age accelerating effects of abdominal fat.

• Polyphenols: Naturally occurring senolytics found in plant based foods may help combat inflammation associated with excess abdominal fat.

This study underscores the importance of managing abdominal fat to improve longevity even in non-obese individuals.

🎁 Happy Holiday’s  🎄

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