Author: News Room
Todd Graves’ high-risk funding strategy for Raising Cane’s Chicken Fingers was a bold gamble that almost cost him his dream.Today, the co-CEO and founder of Raising Cane’s is worth an estimated $9.5 billion, according to Forbes, thanks to his over 90% ownership stake in the company. But getting there was no easy feat. He had to work 90-hour weeks in an oil refinery and fish for salmon in Alaska just to raise enough capital to open the restaurant’s first location.When he was growing the chain, Graves said he took out loans with private investors at a 15% interest rate. He…
By Chris Farrell, Next Avenue Mention college and the conversation swiftly turns to student loans — with good reason. The current loan-based system to pay for postsecondary education is failing too many students, including a surprisingly large number of debtors nearing or in their retirement years. For one thing, $1.6 trillion worth of student loans were outstanding in the first quarter of 2024, up from $240 billion during the same period of 2003. Too many former students find themselves struggling to pay off their debts and almost one in six federal student loan borrowers are in default. The U.S. Department…
After two attempted assassinations and an ongoing threat from Iran, Donald Trump’s campaign has ramped up requests for security, including transport by military aircraft and additional security measures on the ground at the former president’s campaign stops, three sources familiar with the discussions told CNN. Trump’s campaign wants to use these resources – including access to military aircraft with deterrent systems to protect against surface-to-air missiles – as the former president crisscrosses the US during the final weeks of the presidential campaign. President Joe Biden, when asked about Trump’s requests on Friday, said they should be fulfilled – “as long as…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Boeing will cut about 17,000 jobs and delay the first delivery of its 777X jet as the plane maker confronts deepening losses and the effects of a weekslong strike by its largest labour union. Chief executive Kelly Ortberg announced the cuts, equivalent to 10 per cent of its workforce, in a message to staff on Friday. “Our business is in a difficult position, and it is hard to overstate the challenges we face together,” he said. Financial troubles have escalated at Boeing…
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (OTCPK:MURGY) is an interesting income play over the long term, but its earnings outlook in the short term is not great due to recent catastrophe events in the U.S. As I’ve covered in a previous article, even though Munich Re’s dividend yield is not among the highest in the reinsurance sector, it’s a good income pick due to a sustainable dividend over the long haul. As I’ve not covered the company for some time, in this article I analyze its most recent financial performance and update its investment case, to see whether it remains a…
Former President Donald Trump’s campaign connected with Elon Musk’s X last month to discuss hacked Trump campaign materials circulating on the social media platform before X blocked links to the files and banned the independent journalist who published the materials, a person familiar with the matter told CNN. The research dossier published by Ken Klippenstein, allegedly the result of an Iranian government-supported hacking operation, contained internal communications from a senior Trump campaign official and materials the campaign had put together on Sen. JD Vance before Trump named him his running mate. The dossier published by Klippenstein contained some of Vance’s personal information, including his home address and part of his social security number. Following his publication of the dossier on Substack last month, Klippenstein shared that his X account had been suspended for violating the…
After Wall Street balked at Tesla’s highly-anticipated robotaxi unveiling, CNBC’s Jim Cramer told investors not to make any moves on the stock. While he said he wouldn’t recommend buying Tesla after Thursday night’s event flopped, Cramer discouraged shorting the stock, saying it’s “dangerous to bet against” CEO Elon Musk.”Even though Tesla’s robotaxi event was gorgeous, we didn’t get enough detail to justify treating this company like an autonomous driving business rather than an electric vehicle maker,” he said. “So, for now, I recommend taking a page from Switzerland and staying on the sidelines with this one.”Tesla needed a win on…
Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also push back the long-delayed launch of its new wide-body airplane.The manufacturer will not deliver its still-uncertified 777X wide-body plane until 2026, putting it some six years behind schedule. The company in August paused flight tests of the aircraft when it discovered structural damage in one of them. It will stop making commercial 767 freighters in 2027 after it fulfills remaining orders, CEO Kelly Ortberg said in a…
Mortgage rates jumped markedly this week, sending demand down for a second straight week. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.32% from last week’s reading of 6.12%. The average rate on a 30-year loan was 7.57% a year ago. “Following the release of a stronger-than-expected September jobs report, the 30-year fixed rate mortgage saw the largest one-week increase since April,” said Sam Khater, Freddie Mac’s chief economist. HOUSING TURNOVER RATE HITS LOWEST LEVEL IN 30 YEARS”However, we should remember that the rise in rates is…
The Medicare Prescription Payment Plan, also known as MPPP, MP3 or M3P, is a brand-new program that will take effect on January 1, 2025, the same day as the $2,000 cap on Part D out-of-pocket drug costs. The MPPP is like an installment payment plan for those who have Part D prescription drug coverage. They’ll be able to spread the costs out over the year, instead of paying all at once. Here are a few quick facts about the MPPP. Anyone who has Part D drug coverage, such as in a stand-alone plan or a Medicare Advantage plan, is eligible…
