2 days ago
By Exec-Edge Editorial Staff
Sir Lynton Crosby has spent four decades reading public opinion for people who couldn't afford to get it wrong — prime ministers, presidents, and the boards of some of the world's largest companies. As Executive Chairman of CT Group, the research and strategy firm he co-founded, Crosby has built one of the most quietly influential shops in political and corporate consulting, with offices across eight countries and a client roster that spans government, industry, and advocacy. In recent years, CT Group has turned its research apparatus toward a subject closer to home for the business community it serves: capitalism itself, and why the system's public standing hasn't kept pace with its performance. We spoke with Crosby about what the firm's research found, and what it means for how business leaders talk about the system they operate in.
Exec Edge: CT Group ran a large-scale study on public attitudes toward capitalism. What prompted that?
We had seen a number of signals that some of the trending narratives on how the public felt about the predominant economic system were misleading. But we don't operate on feelings, but instead we respond to data, so we tested it. There's a narrative that's taken hold since the financial crisis — that the public has simply given up on capitalism, that a decade of scandals and populist politics has turned the average voter against the system outright. We fielded a nationally representative survey of 3,000 people, backed by focus groups, to find out if that was actually true or if something more specific was going on. It turned out to be the latter.
Exec Edge: What did the research actually find?
#edge #Research #turned
Sir Lynton Crosby has spent four decades reading public opinion for people who couldn't afford to get it wrong — prime ministers, presidents, and the boards of some of the world's largest companies. As Executive Chairman of CT Group, the research and strategy firm he co-founded, Crosby has built one of the most quietly influential shops in political and corporate consulting, with offices across eight countries and a client roster that spans government, industry, and advocacy. In recent years, CT Group has turned its research apparatus toward a subject closer to home for the business community it serves: capitalism itself, and why the system's public standing hasn't kept pace with its performance. We spoke with Crosby about what the firm's research found, and what it means for how business leaders talk about the system they operate in.
Exec Edge: CT Group ran a large-scale study on public attitudes toward capitalism. What prompted that?
We had seen a number of signals that some of the trending narratives on how the public felt about the predominant economic system were misleading. But we don't operate on feelings, but instead we respond to data, so we tested it. There's a narrative that's taken hold since the financial crisis — that the public has simply given up on capitalism, that a decade of scandals and populist politics has turned the average voter against the system outright. We fielded a nationally representative survey of 3,000 people, backed by focus groups, to find out if that was actually true or if something more specific was going on. It turned out to be the latter.
Exec Edge: What did the research actually find?
#edge #Research #turned
3 days ago
An anonymous trader known only by their wallet address 0x3bca had their $7.19 million short position on the S&P 500 fully liquidated on Hyperliquid as the broader market rebounded on Wednesday. The liquidation was tracked via onchain data on Hypurrscan.
A short position is a trade that profits when an ***** et's price falls. The trader was betting the S&P 500 would decline, and when it moved in the opposite direction, the position was forcibly closed at a loss.
Related: Kevin O'Leary has a warning on Washington's tax plans
Liquidation happens when a leveraged trade moves far enough against the trader that the exchange automatically closes it to prevent further losses. Hyperliquid is a decentralized exchange that lets users trade perpetual contracts, derivatives that track an ***** et's price without an expiration date, on crypto, equities and commodities.
The Hypurrscan data shows the wallet held a total portfolio value of roughly $7.85 million at the time, with exposure to S&P 500, XYZ100, BTC and gold contracts. The transaction history reveals a flurry of activity in the seconds surrounding the liquidation, including multiple "Close Long" orders on Robinhood stock (xyz:HOOD) at $109.48 and fresh "Open Long" positions on BTC at approximately $76,568.
#trader #position #hyperliquid #short
A short position is a trade that profits when an ***** et's price falls. The trader was betting the S&P 500 would decline, and when it moved in the opposite direction, the position was forcibly closed at a loss.
Related: Kevin O'Leary has a warning on Washington's tax plans
Liquidation happens when a leveraged trade moves far enough against the trader that the exchange automatically closes it to prevent further losses. Hyperliquid is a decentralized exchange that lets users trade perpetual contracts, derivatives that track an ***** et's price without an expiration date, on crypto, equities and commodities.
The Hypurrscan data shows the wallet held a total portfolio value of roughly $7.85 million at the time, with exposure to S&P 500, XYZ100, BTC and gold contracts. The transaction history reveals a flurry of activity in the seconds surrounding the liquidation, including multiple "Close Long" orders on Robinhood stock (xyz:HOOD) at $109.48 and fresh "Open Long" positions on BTC at approximately $76,568.
#trader #position #hyperliquid #short
4 days ago
Walmart and SCAN Health Plan announced a partnership on Wednesday to offer co-branded Medicare Advantage plans in two states, targeting a pool of more than two million Medicare enrollees.
The plans, pending regulatory approval, may include pharmacy, vision, food, and over-the-counter benefits, the companies said. Open enrollment for Medicare Advantage begins Oct. 15, according to MarketWatch.
A central feature of the partnership is Walmart's Everyday Health Signals platform, an AI tool designed to provide personalized nutrition and wellness guidance based on members' shopping preferences and self-reported wellness goals. The companies said they plan to make that capability available to participating plan members as part of broader coaching and wellness support.
"By combining Walmart's technology capabilities and consumer retail expertise with SCAN's Medicare product experience, we have an opportunity to develop products that translate those insights into meaningful support that helps members make more informed choices about their health and well-being," said Zack Myers, national general manager of SCAN Health Plan, in a statement.
Walmart Group Director for Consumer Health and Data Solutions Pravene Nath said the collaboration is distinct because of Walmart's role in customers' everyday lives. "Because customers regularly turn to Walmart for groceries and other everyday essentials, we have an opportunity for those who choose to participate, to use insights from their shopping experiences to make nutrition guidance more relevant and actionable," Nath said in a statement.
#Wellness #members #scan #advantage
The plans, pending regulatory approval, may include pharmacy, vision, food, and over-the-counter benefits, the companies said. Open enrollment for Medicare Advantage begins Oct. 15, according to MarketWatch.
A central feature of the partnership is Walmart's Everyday Health Signals platform, an AI tool designed to provide personalized nutrition and wellness guidance based on members' shopping preferences and self-reported wellness goals. The companies said they plan to make that capability available to participating plan members as part of broader coaching and wellness support.
"By combining Walmart's technology capabilities and consumer retail expertise with SCAN's Medicare product experience, we have an opportunity to develop products that translate those insights into meaningful support that helps members make more informed choices about their health and well-being," said Zack Myers, national general manager of SCAN Health Plan, in a statement.
Walmart Group Director for Consumer Health and Data Solutions Pravene Nath said the collaboration is distinct because of Walmart's role in customers' everyday lives. "Because customers regularly turn to Walmart for groceries and other everyday essentials, we have an opportunity for those who choose to participate, to use insights from their shopping experiences to make nutrition guidance more relevant and actionable," Nath said in a statement.
#Wellness #members #scan #advantage
5 days ago
President Trump has nominated Nicole Saphier as Surgeon General, and she has revealed her investment portfolio, which includes tobacco stocks Philip Morris International (PM), Altria Group (MO), and British American Tobacco (BTI). If confirmed in the hearing scheduled for Sept. 16, Saphier would divest these holdings no later than 90 days after her confirmation, as part of an ethics agreement. This clearly avoids conflicts of interest with the role's public health mandate.
Meanwhile, the tobacco market is transforming, with smoke-free products gaining prominence. Bank of America's four‑week scanner data through May 30 showed that most U.S. tobacco categories continued to lose volume, while oral nicotine products remained the sector's strongest growth area.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Billionaire Charlie Munger, Who Died at 99, Skipped Insurance on His Mansion Since He Could Just Write a Check to Rebuild — 'All Intelligent People Do It My Way'
The EV Bubble Has Burst. How to Play Rivian Stock Now.
#philip
Meanwhile, the tobacco market is transforming, with smoke-free products gaining prominence. Bank of America's four‑week scanner data through May 30 showed that most U.S. tobacco categories continued to lose volume, while oral nicotine products remained the sector's strongest growth area.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Billionaire Charlie Munger, Who Died at 99, Skipped Insurance on His Mansion Since He Could Just Write a Check to Rebuild — 'All Intelligent People Do It My Way'
The EV Bubble Has Burst. How to Play Rivian Stock Now.
#philip
5 days ago
This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry ***** ysis delivered straight to their inbox with the free CRE Daily newsletter.
Dallas, Tarrant, and Collin county records show 1,197 commercial and multifamily loans totaling $13.3 billion maturing over the next 12 months, with another $12.5 billion in loans already past their maturity date.
Only 3 of the 1,197 forward-maturing loans carry a recorded distress filing, underscoring how little of the real risk shows up in public records before a loan actually fails.
The wall stems from two colliding loan vintages: roughly $4.3 billion in 2016-2017 peak-era loans and $2.6 billion in short-term bridge debt originated since 2025.
DFW loan maturities over the next 12 months total $13.3 billion, according to a county-by-county read of deed of trust records by Circlemark. That's on top of $12.5 billion in loans that have already passed their stated maturity date and remain open. Circlemark, which reads scanned county clerk instruments rather than relying on servicer-reported data, calls its own $13.3 billion figure a floor, not a ceiling.
#records
Dallas, Tarrant, and Collin county records show 1,197 commercial and multifamily loans totaling $13.3 billion maturing over the next 12 months, with another $12.5 billion in loans already past their maturity date.
Only 3 of the 1,197 forward-maturing loans carry a recorded distress filing, underscoring how little of the real risk shows up in public records before a loan actually fails.
The wall stems from two colliding loan vintages: roughly $4.3 billion in 2016-2017 peak-era loans and $2.6 billion in short-term bridge debt originated since 2025.
DFW loan maturities over the next 12 months total $13.3 billion, according to a county-by-county read of deed of trust records by Circlemark. That's on top of $12.5 billion in loans that have already passed their stated maturity date and remain open. Circlemark, which reads scanned county clerk instruments rather than relying on servicer-reported data, calls its own $13.3 billion figure a floor, not a ceiling.
#records
6 days ago
Walmart and SCAN Health Plan announced a partnership on Wednesday to offer co-branded Medicare Advantage plans in two states, targeting a pool of more than two million Medicare enrollees.
The plans, pending regulatory approval, may include pharmacy, vision, food, and over-the-counter benefits, the companies said. Open enrollment for Medicare Advantage begins Oct. 15, according to MarketWatch.
A central feature of the partnership is Walmart's Everyday Health Signals platform, an AI tool designed to provide personalized nutrition and wellness guidance based on members' shopping preferences and self-reported wellness goals. The companies said they plan to make that capability available to participating plan members as part of broader coaching and wellness support.
"By combining Walmart's technology capabilities and consumer retail expertise with SCAN's Medicare product experience, we have an opportunity to develop products that translate those insights into meaningful support that helps members make more informed choices about their health and well-being," said Zack Myers, national general manager of SCAN Health Plan, in a statement.
Walmart Group Director for Consumer Health and Data Solutions Pravene Nath said the collaboration is distinct because of Walmart's role in customers' everyday lives. "Because customers regularly turn to Walmart for groceries and other everyday essentials, we have an opportunity for those who choose to participate, to use insights from their shopping experiences to make nutrition guidance more relevant and actionable," Nath said in a statement.
#plan #Wellness #members #advantage
The plans, pending regulatory approval, may include pharmacy, vision, food, and over-the-counter benefits, the companies said. Open enrollment for Medicare Advantage begins Oct. 15, according to MarketWatch.
A central feature of the partnership is Walmart's Everyday Health Signals platform, an AI tool designed to provide personalized nutrition and wellness guidance based on members' shopping preferences and self-reported wellness goals. The companies said they plan to make that capability available to participating plan members as part of broader coaching and wellness support.
"By combining Walmart's technology capabilities and consumer retail expertise with SCAN's Medicare product experience, we have an opportunity to develop products that translate those insights into meaningful support that helps members make more informed choices about their health and well-being," said Zack Myers, national general manager of SCAN Health Plan, in a statement.
Walmart Group Director for Consumer Health and Data Solutions Pravene Nath said the collaboration is distinct because of Walmart's role in customers' everyday lives. "Because customers regularly turn to Walmart for groceries and other everyday essentials, we have an opportunity for those who choose to participate, to use insights from their shopping experiences to make nutrition guidance more relevant and actionable," Nath said in a statement.
#plan #Wellness #members #advantage
8 days ago
September 14, 2010: Security workers reportedly stop Apple CEO Steve Jobs at **** an's Kansai International Airport. The reason? Jobs supposedly tried to bring ninja throwing stars onto his private plane while heading home from vacation. The "Steve Jobs ninja stars" story quickly becomes one of the most bizarre Apple stories ever.
The company, however, quickly spoils the internet's fun. Cupertino issues a statement describing the reports as "pure fiction" (although Apple acknowledges that Jobs visited **** an over the summer).
Few Steve Jobs stories sound more perfectly tailored to his larger-than-life persona than the tale of him being stopped at a **** anese airport with ninja throwing stars in his luggage. The problem: Apple said it never happened. Still, the story endured — perhaps because a notoriously intense, famously unconventional CEO carrying ninja weapons just feels like the kind of thing people want to believe.
Both Bloomberg and **** anese tabloid magazine Spa! covered the story prominently. Authorities stopped Jobs during a security scan at Kansai International Airport, the reports said, after detecting the ninja weapons in his carry-on luggage.
The stories cited unidentified airport officials and sources within **** an's transportation ministry. An airport spokesperson confirmed that the incident took place, but stopped short of identifying the individual involved.
#stars
The company, however, quickly spoils the internet's fun. Cupertino issues a statement describing the reports as "pure fiction" (although Apple acknowledges that Jobs visited **** an over the summer).
Few Steve Jobs stories sound more perfectly tailored to his larger-than-life persona than the tale of him being stopped at a **** anese airport with ninja throwing stars in his luggage. The problem: Apple said it never happened. Still, the story endured — perhaps because a notoriously intense, famously unconventional CEO carrying ninja weapons just feels like the kind of thing people want to believe.
Both Bloomberg and **** anese tabloid magazine Spa! covered the story prominently. Authorities stopped Jobs during a security scan at Kansai International Airport, the reports said, after detecting the ninja weapons in his carry-on luggage.
The stories cited unidentified airport officials and sources within **** an's transportation ministry. An airport spokesperson confirmed that the incident took place, but stopped short of identifying the individual involved.
#stars
9 days ago
With **** ignments that include calling three of tennis' four major tournaments and ESPN's top college football game weekly through the playoffs, Chris Fowler readily admits he's living the dream.
His weekend travel itinerary, however, hardly seemed the stuff of dreams.
After calling Friday's second U.S. Open semifinal, he was on a private flight that landed in Austin around 3 a.m. Saturday. Following a scant amount of sleep, there was a late-morning production meeting before calling Saturday night's matchup between No. 1 Ohio State and No. 4 Texas on ABC, arguably the top non-conference matchup in college football this season.
Once Saturday's game ends, it's back on a plane to New York for Sunday's 1 p.m. CT men's final on ABC between Alexander Zverez and Blake Shelton, with the latter trying to become the first American man to win a major since Andy Roddick at the 2003 U.S, Open.
"They are my two favorite sports and I get to call the championship events in them," Fowler told the Houston Chronicle on Saturday afternoon during a brief respite in Austin. "So that's a dream job. I live in the dream I had since I'm 10 years old."
#saturday #open #austin
His weekend travel itinerary, however, hardly seemed the stuff of dreams.
After calling Friday's second U.S. Open semifinal, he was on a private flight that landed in Austin around 3 a.m. Saturday. Following a scant amount of sleep, there was a late-morning production meeting before calling Saturday night's matchup between No. 1 Ohio State and No. 4 Texas on ABC, arguably the top non-conference matchup in college football this season.
Once Saturday's game ends, it's back on a plane to New York for Sunday's 1 p.m. CT men's final on ABC between Alexander Zverez and Blake Shelton, with the latter trying to become the first American man to win a major since Andy Roddick at the 2003 U.S, Open.
"They are my two favorite sports and I get to call the championship events in them," Fowler told the Houston Chronicle on Saturday afternoon during a brief respite in Austin. "So that's a dream job. I live in the dream I had since I'm 10 years old."
#saturday #open #austin
9 days ago
SAO PAULO (AP) — Brazilian presidential candidate Sen. Flávio Bolsonaro is under investigation for corruption, money laundering and tax evasion for receiving millions of dollars from a disgraced banker to finance a movie about his father, former President Jair Bolsonaro.
Brazil's top court unsealed several documents late Thursday that show Sen. Bolsonaro, President Luiz Inácio Lula da Silva's primary opponent, is under investigation for receiving 61 million reais ($12 million) from a banker at the center of a corruption scandal to produce an unreleased movie ******* led "The Dark Horse."
The investigation, which centers on whether the Bolsonaro family misused the funds and whether the payments were properly reported to Brazilian authorities, threatens to undermine Sen. Bolsonaro's bid for the presidency. The first round of elections is slated for Oct. 4, and the senator is locked in a tight race with Lula.
The banker, Daniel Vorcaro, who was arrested in March, is accused of defrauding many of Banco Master's 800,000 clients, including several state government pension funds, out of hundreds of millions of dollars by convincing them to make questionable investments. The scandal has engulfed several high-ranking officials in Brazil.
The allegations first became public in May. Sen. Bolsonaro has denied any wrongdoing and said Friday during a campaign event in the Amazonian city of Manaus that he was seeking private investment for the movie.
#bolsonaro #brazilian #president #receiving
Brazil's top court unsealed several documents late Thursday that show Sen. Bolsonaro, President Luiz Inácio Lula da Silva's primary opponent, is under investigation for receiving 61 million reais ($12 million) from a banker at the center of a corruption scandal to produce an unreleased movie ******* led "The Dark Horse."
The investigation, which centers on whether the Bolsonaro family misused the funds and whether the payments were properly reported to Brazilian authorities, threatens to undermine Sen. Bolsonaro's bid for the presidency. The first round of elections is slated for Oct. 4, and the senator is locked in a tight race with Lula.
The banker, Daniel Vorcaro, who was arrested in March, is accused of defrauding many of Banco Master's 800,000 clients, including several state government pension funds, out of hundreds of millions of dollars by convincing them to make questionable investments. The scandal has engulfed several high-ranking officials in Brazil.
The allegations first became public in May. Sen. Bolsonaro has denied any wrongdoing and said Friday during a campaign event in the Amazonian city of Manaus that he was seeking private investment for the movie.
#bolsonaro #brazilian #president #receiving
10 days ago
Counting On alums Joy-Anna Duggar and Jinger Duggar are finally seeing the light at the end of the tunnel six months after the family's latest scandal in which their brother, Joseph Duggar, and sister-in-law, Kendra Duggar, were arrested.
During a September 2 episode of the Call Your Sister podcast, Joy-Anna, 29, said she's "coming out" of the darkness.
"We've had wave after wave of just sickening horrible things happening," Joy-Anna said during the September 2 episode. "It really just sends me into a spiral. And those have been really hard seasons. I feel like I'm coming out of that finally with this last run we went through of family stuff."
She added, "Sin is so dark and so heavy and it's hard to find true joy…happiness is circumstantial. I think my kids help me have a little bit of happiness here and there in the dark moments. But it is really hard to find joy in those hard, hard moments."
Joy-Anna Duggar/Instagram
#september
During a September 2 episode of the Call Your Sister podcast, Joy-Anna, 29, said she's "coming out" of the darkness.
"We've had wave after wave of just sickening horrible things happening," Joy-Anna said during the September 2 episode. "It really just sends me into a spiral. And those have been really hard seasons. I feel like I'm coming out of that finally with this last run we went through of family stuff."
She added, "Sin is so dark and so heavy and it's hard to find true joy…happiness is circumstantial. I think my kids help me have a little bit of happiness here and there in the dark moments. But it is really hard to find joy in those hard, hard moments."
Joy-Anna Duggar/Instagram
#september
11 days ago
NFL star Aaron Rodgers did not mince words when he slammed ESPN over its lack of coverage of former journalist Dianna Russini's alleged affair with New England Patriots head coach Mike Vrabel.
"I also said you're a gutless organization because they haven't said anything," Rodgers, 42, said during his Thursday, September 10, appearance on the Not Just Football with Cam Heyward show. "They spend so much time on certain issues but you won't talk one second on the Dianna Russini situation."
The Pittsburgh Steelers quarterback went on to explain that ESPN reported on San Francisco 49ers owner Jed York's prostitution scandal on the front page of its website, but failed to acknowledge the scandal involving Russini, 43, and Vrabel, 51.
"They will rotate the eight stories or whatever they have but they usually have like the one story that's featured," Rodgers continued. "That was the featured story. So you bring in how many millions of eyes to that situation. Why do you want to throw Jed York under the bus? I don't know. But does that have the same effect as a reporter who's, you know, has intimate relations with a coach, who has a vote for MVP, has a vote for coach of the year. I don't know if she's on the Hall of Fame [voting committee] or not but there's voting stuff."
JPA/AFF-USA.com / MEGA; Eric Canha/Cal Sport Media/Newscom/The Mega Agency
#know #espn
"I also said you're a gutless organization because they haven't said anything," Rodgers, 42, said during his Thursday, September 10, appearance on the Not Just Football with Cam Heyward show. "They spend so much time on certain issues but you won't talk one second on the Dianna Russini situation."
The Pittsburgh Steelers quarterback went on to explain that ESPN reported on San Francisco 49ers owner Jed York's prostitution scandal on the front page of its website, but failed to acknowledge the scandal involving Russini, 43, and Vrabel, 51.
"They will rotate the eight stories or whatever they have but they usually have like the one story that's featured," Rodgers continued. "That was the featured story. So you bring in how many millions of eyes to that situation. Why do you want to throw Jed York under the bus? I don't know. But does that have the same effect as a reporter who's, you know, has intimate relations with a coach, who has a vote for MVP, has a vote for coach of the year. I don't know if she's on the Hall of Fame [voting committee] or not but there's voting stuff."
JPA/AFF-USA.com / MEGA; Eric Canha/Cal Sport Media/Newscom/The Mega Agency
#know #espn
11 days ago
It started with yelling about toilets. Steve Ballmer was so serious about turning the Los Angeles Clippers into a serious franchise for the first time in their existence that he wanted to make sure no fan ever waited in a long line to use the bathroom when the team opened its new arena. Ballmer's drive to win eventually led the Clippers to courting Kawhi Leonard in free agency, fresh off leading the Toronto Raptors to a 2019 NBA championship. Leonard wanted to live in Los Angeles, yes, but he also wanted Paul George as his running mate, so the Clippers shipped out a boatload of draft picks and future two-time MVP Shai Gilgeous-Alexander to get him.
Leonard's people also made it known that their client wanted the type of big endorsement deals his off-putting, robotic personality couldn't land legitimately. Leonard's now infamous Uncle Dennis Robertson never tried to be subtle about his desire to secure similar off-court bags to the ones Kawhi's contemporaries like LeBron James, Steph Curry, and Kevin Durant were landing on their own accord, and leaks of his demands circulated as soon as Leonard hit free agency.
The Clippers became so entangled in pleasing Leonard that it led to blatant salary cap circumvention, first reported by investigative journalist Pablo Torre. The NBA found enough evidence supporting Torre's claims that it hammered the Clippers with the most severe penalty in league history, stripping five future first-round draft picks, suspending executives including Ballmer, and more. That figured to be the end of the story, with the Clippers spending the next decade trying to climb out of the abyss. Torre continued to hint that there was another shoe to drop, and now that it's here, the Clippers might be in much bigger trouble than anyone first believed.
The Department of Justice has opened a criminal investigation into the Clippers, according to the New York Times, and it's already issued one subpoena. While the scope of the investigation is unclear for now, the fact that the feds are watching the Clippers for under-the-table dealings potentially makes this a much bigger deal than simply breaking NBA rules.
How does breaking NBA rules amount to a federal crime by the Clippers? While there's a lot left to come out, the main idea is that the Clippers committed some level of fraud. Daktronics was a publicly traded company, the only one of the four tied up in the Leonard scandal to fit that description, while Aspiration, Lockton Insurance, and Boingo Wireless were not. Publicly traded companies have a fiduciary duty to their shareholders to disclose big investments, and it sure feels like that never happened when dealing with Leonard.
#ballmer
Leonard's people also made it known that their client wanted the type of big endorsement deals his off-putting, robotic personality couldn't land legitimately. Leonard's now infamous Uncle Dennis Robertson never tried to be subtle about his desire to secure similar off-court bags to the ones Kawhi's contemporaries like LeBron James, Steph Curry, and Kevin Durant were landing on their own accord, and leaks of his demands circulated as soon as Leonard hit free agency.
The Clippers became so entangled in pleasing Leonard that it led to blatant salary cap circumvention, first reported by investigative journalist Pablo Torre. The NBA found enough evidence supporting Torre's claims that it hammered the Clippers with the most severe penalty in league history, stripping five future first-round draft picks, suspending executives including Ballmer, and more. That figured to be the end of the story, with the Clippers spending the next decade trying to climb out of the abyss. Torre continued to hint that there was another shoe to drop, and now that it's here, the Clippers might be in much bigger trouble than anyone first believed.
The Department of Justice has opened a criminal investigation into the Clippers, according to the New York Times, and it's already issued one subpoena. While the scope of the investigation is unclear for now, the fact that the feds are watching the Clippers for under-the-table dealings potentially makes this a much bigger deal than simply breaking NBA rules.
How does breaking NBA rules amount to a federal crime by the Clippers? While there's a lot left to come out, the main idea is that the Clippers committed some level of fraud. Daktronics was a publicly traded company, the only one of the four tied up in the Leonard scandal to fit that description, while Aspiration, Lockton Insurance, and Boingo Wireless were not. Publicly traded companies have a fiduciary duty to their shareholders to disclose big investments, and it sure feels like that never happened when dealing with Leonard.
#ballmer
11 days ago
Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Management attributes the sequential improvement in comparable sales to enhanced digital conversion and the successful scaling of private brand franchises like THERMACHILL.
The company is navigating a structural shift in customer behavior driven by GLP-1 medication adoption, which has led to temporary pauses in apparel purchasing during weight loss journeys.
Performance was significantly bolstered by a $4.6 million IEEPA tariff refund, which masked a 70 basis point decline in underlying merchandise margins caused by higher markdowns and shipping surcharges.
Strategic focus has shifted toward 'Fit Authority' through the FITMAP initiative, which has scanned 150,000 customers and resulted in higher average order values and lower return rates.
#performance
Management attributes the sequential improvement in comparable sales to enhanced digital conversion and the successful scaling of private brand franchises like THERMACHILL.
The company is navigating a structural shift in customer behavior driven by GLP-1 medication adoption, which has led to temporary pauses in apparel purchasing during weight loss journeys.
Performance was significantly bolstered by a $4.6 million IEEPA tariff refund, which masked a 70 basis point decline in underlying merchandise margins caused by higher markdowns and shipping surcharges.
Strategic focus has shifted toward 'Fit Authority' through the FITMAP initiative, which has scanned 150,000 customers and resulted in higher average order values and lower return rates.
#performance
11 days ago
The NBA brought the hammer down on the LA Clippers and owner Steve Ballmer for circumventing the salary cap to funnel more money to Kawhi Leonard — and now federal prosecutors are looking into the matter.
The Justice Department has opened a criminal investigation into the Clippers' efforts to secure "no-show" endorsement deals for Kawhi Leonard, the New York Times reports. This investigation is being run out of the U.S. Attorney's Office in Brooklyn, the office that has traditionally looked into issues with professional sports leagues.
The investigation is in its earliest stages, and it's unclear what, if any, federal charges could come out of it, according to the report.
The Justice Department investigation comes in addition to the Securities and Exchange Commission looking into Daktronics' role in the scandal, as it had an endorsement deal with Leonard despite never having had a celebrity endorser before and there being no evidence Leonard did anything for the company. Daktronics is publicly traded, and the SEC is tasked with protecting shareholders.
The NBA oversaw a year-long investigation of its own into the Clippers working to circumvent the salary cap with Leonard and last month came down with the harshest penalties ever imposed on a team:
#salary
The Justice Department has opened a criminal investigation into the Clippers' efforts to secure "no-show" endorsement deals for Kawhi Leonard, the New York Times reports. This investigation is being run out of the U.S. Attorney's Office in Brooklyn, the office that has traditionally looked into issues with professional sports leagues.
The investigation is in its earliest stages, and it's unclear what, if any, federal charges could come out of it, according to the report.
The Justice Department investigation comes in addition to the Securities and Exchange Commission looking into Daktronics' role in the scandal, as it had an endorsement deal with Leonard despite never having had a celebrity endorser before and there being no evidence Leonard did anything for the company. Daktronics is publicly traded, and the SEC is tasked with protecting shareholders.
The NBA oversaw a year-long investigation of its own into the Clippers working to circumvent the salary cap with Leonard and last month came down with the harshest penalties ever imposed on a team:
#salary
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11 days ago
The Los Angeles Clippers are still reeling in the aftermath of a cap circumvention scandal. For their part in helping Kawhi Leonard secure millions in off-the-court, "no-show" endorsement deals, the franchise had to give up five first-round picks and $30 million, culminating in one of the most severe penalties in NBA history.
Through it all, Kawhi escaped the scandal relatively unscathed. Besides a $700K fine, he didn't face any major consequences, and even his trade to the Toronto Raptors remains completely untouched. And yet, even now, the Clippers have yet to finalize the trade, leading some executives to suspect they are considering some sort of revenge against Leonard for how he's turned his back on the team.
"The Raptors, I'm told, are eager to consummate the trade after initially placing it on hold July 9 (to guard against a Leonard suspension or the outright voiding of his contract) and still firmly believe that the deal will happen as agreed upon and intended. Ditto for Leonard and his camp," wrote NBA insider Marc Stein. "Yet the delay has naturally led some league observers to wonder aloud whether the Clippers are holding off — or considering something even more drastic — to spite Leonard for so readily accepting the league's punishment rather than invoking his right to pursue an appeal. Any formal appeal within the NBA's auspices in such matters, remember, must be initiated by the player in question rather than the team according to league by-laws."
The Clippers have given up everything for Kawhi, and they set themselves back 10 years just to make him happy. From his very arrival, Kawhi was making outlandish requests and even forced the Clippers to give up five first-round picks (along with future MVP Shai Gilgeous-Alexander) in a deal for Paul George. By the end, the total cost of Leonard's services amounts to 10 first-round picks (not counting SGA), and it was all for a team that never made the Finals.
So when the Clippers were caught holding the bag in the cap circumvention scandal, they naturally expected some level of cooperation from Leonard, someone they moved heaven and earth to appease. Instead, he settled with the NBA right away, avoiding more severe penalties while stripping the Clippers of any power to fight back.
#clippers #leonard #first
Through it all, Kawhi escaped the scandal relatively unscathed. Besides a $700K fine, he didn't face any major consequences, and even his trade to the Toronto Raptors remains completely untouched. And yet, even now, the Clippers have yet to finalize the trade, leading some executives to suspect they are considering some sort of revenge against Leonard for how he's turned his back on the team.
"The Raptors, I'm told, are eager to consummate the trade after initially placing it on hold July 9 (to guard against a Leonard suspension or the outright voiding of his contract) and still firmly believe that the deal will happen as agreed upon and intended. Ditto for Leonard and his camp," wrote NBA insider Marc Stein. "Yet the delay has naturally led some league observers to wonder aloud whether the Clippers are holding off — or considering something even more drastic — to spite Leonard for so readily accepting the league's punishment rather than invoking his right to pursue an appeal. Any formal appeal within the NBA's auspices in such matters, remember, must be initiated by the player in question rather than the team according to league by-laws."
The Clippers have given up everything for Kawhi, and they set themselves back 10 years just to make him happy. From his very arrival, Kawhi was making outlandish requests and even forced the Clippers to give up five first-round picks (along with future MVP Shai Gilgeous-Alexander) in a deal for Paul George. By the end, the total cost of Leonard's services amounts to 10 first-round picks (not counting SGA), and it was all for a team that never made the Finals.
So when the Clippers were caught holding the bag in the cap circumvention scandal, they naturally expected some level of cooperation from Leonard, someone they moved heaven and earth to appease. Instead, he settled with the NBA right away, avoiding more severe penalties while stripping the Clippers of any power to fight back.
#clippers #leonard #first
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11 days ago
CHISINAU, Moldova (AP) — A flight that was scheduled to carry Ukrainian President Volodymyr Zelenskyy from Moldova to Norway earlier this week was delayed when authorities closed Moldova's airspace because of a drone incursion, a government spokesperson said.
Moldovan police said a Russian drone crashed on Tuesday in a sunflower field on the outskirts of a village in the district of Riscani, which caused four fires to break out but no injuries.
Government spokesperson Dumitru Ciorici said on Wednesday that Moldova had closed its airspace Tuesday afternoon to protect aircraft flying over the country at the time. The closure delayed three departures, including the flight carrying Zelenskyy.
Norwegian Prime Minister Jonas Gahr Støre told broadcaster NRK that Zelenskyy's plane "was nearly hit by a drone as it took off from Moldova" on its way to Oslo for King Harald V's funeral. Zelenskyy arrived in Oslo on Tuesday and met Støre to discuss potential support for Ukraine's air defenses before attending the king's funeral on Wednesday.
Moldovan authorities confirmed the drone came down and exploded 160 kilometers (100 miles) from Chisinau International Airport. The airspace restrictions were lifted and Zelenskyy's plane took off later than scheduled.
#drone
Moldovan police said a Russian drone crashed on Tuesday in a sunflower field on the outskirts of a village in the district of Riscani, which caused four fires to break out but no injuries.
Government spokesperson Dumitru Ciorici said on Wednesday that Moldova had closed its airspace Tuesday afternoon to protect aircraft flying over the country at the time. The closure delayed three departures, including the flight carrying Zelenskyy.
Norwegian Prime Minister Jonas Gahr Støre told broadcaster NRK that Zelenskyy's plane "was nearly hit by a drone as it took off from Moldova" on its way to Oslo for King Harald V's funeral. Zelenskyy arrived in Oslo on Tuesday and met Støre to discuss potential support for Ukraine's air defenses before attending the king's funeral on Wednesday.
Moldovan authorities confirmed the drone came down and exploded 160 kilometers (100 miles) from Chisinau International Airport. The airspace restrictions were lifted and Zelenskyy's plane took off later than scheduled.
#drone
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11 days ago
The Washington Huskies saw their top two running backs, second-year Quaid Carr and fourth-year Jayden Limar, both suffer significant injuries in the Apple Cup, dealing a significant blow to Jedd Fisch's backfield
However, during his Thursday press conference, Fisch delivered some good news about the injury-ravaged position, as third-year running back Jordan Washington continues to recover from a neck injury that he suffered during spring practice, stating that there's a chance the former four-star recruit returns this season.
"I am more optimistic (that Washington can play in 2026) based upon how his rehab has gone," Fisch said on Thursday.
"He's gotten a lot stronger; he's stronger than he was before he got hurt, with all of his weight room metrics...His speed is the same; the thing that we have to look at is cleared for contact. That decision gets made by the surgeon who took care of him, and then we have to look at conditioning. But in terms of how things are trending, he's doing exceptionally well, but we don't know anything until he gets scanned, and the scans—we're not ready for that yet."
Fisch added that a potential return could happen before the end of the season, but at the same time, tried to temper expectations around what that may look like, adding that he has several benchmarks to hit before he can even get scanned in an attempt to return.
#washington #look #season
However, during his Thursday press conference, Fisch delivered some good news about the injury-ravaged position, as third-year running back Jordan Washington continues to recover from a neck injury that he suffered during spring practice, stating that there's a chance the former four-star recruit returns this season.
"I am more optimistic (that Washington can play in 2026) based upon how his rehab has gone," Fisch said on Thursday.
"He's gotten a lot stronger; he's stronger than he was before he got hurt, with all of his weight room metrics...His speed is the same; the thing that we have to look at is cleared for contact. That decision gets made by the surgeon who took care of him, and then we have to look at conditioning. But in terms of how things are trending, he's doing exceptionally well, but we don't know anything until he gets scanned, and the scans—we're not ready for that yet."
Fisch added that a potential return could happen before the end of the season, but at the same time, tried to temper expectations around what that may look like, adding that he has several benchmarks to hit before he can even get scanned in an attempt to return.
#washington #look #season
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14 days ago
With hours to go before heads of state and royal houses from around the world bid farewell with full honors to King Harald, who died on August 28 at the age of 89, Queen Sonja has appeared in a moving new image.
The photograph, shared by the Norwegian Royal Family, demonstrates the depth of the couple's enduring 58 year-love story.
Queen Sonja of Norway has appeared in a moving new image (@ Det kongelige hoff)
The images show Queen Sonja, dressed in mourning attire, standing before the body of her husband, which lies in state in the chapel of rest set up in the Royal Palace in Oslo.
The grieving Queen appears serene, with her hands clasped and wearing a large Maltese cross brooch that belonged to Queen Maud of Norway. The jewel first belonged to Queen Alexandra of the United Kingdom, Maud's mother, and from there passed to the Scandinavian Royal Family.
#queen #king
The photograph, shared by the Norwegian Royal Family, demonstrates the depth of the couple's enduring 58 year-love story.
Queen Sonja of Norway has appeared in a moving new image (@ Det kongelige hoff)
The images show Queen Sonja, dressed in mourning attire, standing before the body of her husband, which lies in state in the chapel of rest set up in the Royal Palace in Oslo.
The grieving Queen appears serene, with her hands clasped and wearing a large Maltese cross brooch that belonged to Queen Maud of Norway. The jewel first belonged to Queen Alexandra of the United Kingdom, Maud's mother, and from there passed to the Scandinavian Royal Family.
#queen #king
14 days ago
Genius, madman, salesman: Elon Musk is the subject of a nearly four-hour documentary at Venice that seeks to unmask the billionaire provocateur with outsized global influence in business, politics and even outer ****** e.
"Musk," premiering Tuesday at the Venice Film Festival, seeks to reframe the story of the world's richest man whose stated ambitions include colonising Mars, transitioning the planet to sustainable energy and protecting free speech, laying bare the "unreality of his narrative," Oscar-winning documentarian Alex Gibney said.
"I wanted to understand what game he is playing," says director Gibney at the start of the film about the man long considered a rule-breaking genius whose erratic behaviour and shift to right-wing politics has alienated -- and confused -- many.
Gibney said Musk's story was "oddly familiar" to him, having treated other larger-than-life characters in past films, from the executives behind the Enron scandal to former Theranos boss Elizabeth Holmes.
"His story is the story of an old wine and a new bottle. His story turns out to be the story of the confidence man, the stock pumper," said Gibney, adding that much of what Musk says "has an air of unreality around it".
#film #Politics
"Musk," premiering Tuesday at the Venice Film Festival, seeks to reframe the story of the world's richest man whose stated ambitions include colonising Mars, transitioning the planet to sustainable energy and protecting free speech, laying bare the "unreality of his narrative," Oscar-winning documentarian Alex Gibney said.
"I wanted to understand what game he is playing," says director Gibney at the start of the film about the man long considered a rule-breaking genius whose erratic behaviour and shift to right-wing politics has alienated -- and confused -- many.
Gibney said Musk's story was "oddly familiar" to him, having treated other larger-than-life characters in past films, from the executives behind the Enron scandal to former Theranos boss Elizabeth Holmes.
"His story is the story of an old wine and a new bottle. His story turns out to be the story of the confidence man, the stock pumper," said Gibney, adding that much of what Musk says "has an air of unreality around it".
#film #Politics
14 days ago
Daniel Farke is "carefully optimistic" Daniel James will be available for Leeds' Carabao Cup clash with Chelsea despite suffering a fitness scare.
James reported discomfort in his back and hamstring during the warm-up at Brighton, but scans have shown no new injury.
The winger completed an individual session and will be ******* sed again before a decision is made on his availability.
"A little question mark behind Daniel James," Farke said. "He reported in the warm-up at Brighton some issues with his back and hamstring.
"The scan results were good, no new injury. He just had an individual session today which was okay. We have two more sessions, one this afternoon and a light session tomorrow morning.
#back
James reported discomfort in his back and hamstring during the warm-up at Brighton, but scans have shown no new injury.
The winger completed an individual session and will be ******* sed again before a decision is made on his availability.
"A little question mark behind Daniel James," Farke said. "He reported in the warm-up at Brighton some issues with his back and hamstring.
"The scan results were good, no new injury. He just had an individual session today which was okay. We have two more sessions, one this afternoon and a light session tomorrow morning.
#back
14 days ago
Leeds United boss Daniel Farke has been speaking to the media before Wednesday's Carabao Cup third-round tie against Chelsea at Stamford Bridge (kick-off 20:00 BST).
Here are the key lines from his news conference:
Farke said there's "a little question mark" over Daniel James as he "reported an issue with his back after the warm-up at Brighton". He added: "The scan results were good. We have two more sessions [so] if he comes through those then he is hopefully available. Carefully optimistic."
Farke confirmed there will be some squad rotation against Chelsea to help "integrate new players". The German also said he wants Leeds "to be difficult to predict and tactical".
"It's possible" that goalkeeper Michael Zetterer will make his Whites debut in the cup, but they "won't make a decision before the training session this afternoon".
#Chelsea #united
Here are the key lines from his news conference:
Farke said there's "a little question mark" over Daniel James as he "reported an issue with his back after the warm-up at Brighton". He added: "The scan results were good. We have two more sessions [so] if he comes through those then he is hopefully available. Carefully optimistic."
Farke confirmed there will be some squad rotation against Chelsea to help "integrate new players". The German also said he wants Leeds "to be difficult to predict and tactical".
"It's possible" that goalkeeper Michael Zetterer will make his Whites debut in the cup, but they "won't make a decision before the training session this afternoon".
#Chelsea #united
14 days ago
After a quick turnaround following the weekend's Premier League draw at Brighton & Hove Albion, attentions now turn to the trip to Chelsea for Wednesday's EFL Cup Round Three tie for Daniel Farke's side.
The manager spoke to the press ahead of the visit to Stamford Bridge and hopes to have a strong squad at his disposal as the Whites look to progress in the competition.
When asked if there was any major updates to his players' availability, the boss explained: "Joe Rodon, obviously long-term injury out.
"Little question mark behind Daniel James. He reported during the warm-up at Brighton some issues with his back and also with his hamstring.
"Scan results were good so it seems like no new injury. He just had an individual session yesterday. It was okay.
#daniel #injury #round #three
The manager spoke to the press ahead of the visit to Stamford Bridge and hopes to have a strong squad at his disposal as the Whites look to progress in the competition.
When asked if there was any major updates to his players' availability, the boss explained: "Joe Rodon, obviously long-term injury out.
"Little question mark behind Daniel James. He reported during the warm-up at Brighton some issues with his back and also with his hamstring.
"Scan results were good so it seems like no new injury. He just had an individual session yesterday. It was okay.
#daniel #injury #round #three
14 days ago
Stop me if you've heard this over the past 48 hours: the broadcast clock is not the official game clock.
On Saturday night, Michigan's season-opening matchup against Western Michigan went from a college football game to an all-time timekeeping scandal.
Michigan Wolverines quarterback Bryce Underwood launched a Hail Mary out of the end zone as the clock hit triple zeroes. The Western Michigan Broncos thought they'd pulled off the 12-7 upset. After review, officials concluded one second remained on the clock, giving Michigan a second chance. Underwood found JJ Buchanan for the game-winning touchdown, shrouded in controversy.
On the NBC broadcast, rules ***** yst Terry McAuley was flabberghasted by that phantom second. The Big Ten released a formal statement, including the official internal video used for review. On Sunday, NBC's John Fanta stated, "The official time of the game is kept by the Big Ten. Our cameras are not the official arbiter of timekeeping within the game."
By Monday night, ESPN's broadcast of Florida State and SMU experienced a lengthy delay due to a power outage at Doak Campbell Stadium. Finally, officials surmised they'd restored enough light and power to play the game, but with several caveats. No replay, no scoreboard, no PA announcer, and no coach-to-play communication.
#time
On Saturday night, Michigan's season-opening matchup against Western Michigan went from a college football game to an all-time timekeeping scandal.
Michigan Wolverines quarterback Bryce Underwood launched a Hail Mary out of the end zone as the clock hit triple zeroes. The Western Michigan Broncos thought they'd pulled off the 12-7 upset. After review, officials concluded one second remained on the clock, giving Michigan a second chance. Underwood found JJ Buchanan for the game-winning touchdown, shrouded in controversy.
On the NBC broadcast, rules ***** yst Terry McAuley was flabberghasted by that phantom second. The Big Ten released a formal statement, including the official internal video used for review. On Sunday, NBC's John Fanta stated, "The official time of the game is kept by the Big Ten. Our cameras are not the official arbiter of timekeeping within the game."
By Monday night, ESPN's broadcast of Florida State and SMU experienced a lengthy delay due to a power outage at Doak Campbell Stadium. Finally, officials surmised they'd restored enough light and power to play the game, but with several caveats. No replay, no scoreboard, no PA announcer, and no coach-to-play communication.
#time
14 days ago
Jack Doherty has been accused of targeting women described as "young and vulnerable" with promises of a glamorous lifestyle before allegedly taking a substantial share of the money they generated. Former employees claim the controversial YouTuber used his massive social media following to promote women selling adult content while exercising considerable control over their businesses. The allegations have resurfaced as Doherty faces heightened scrutiny following his recent arrest on a misdemeanor domestic battery charge in Florida.
Doherty built his online following through confrontational pranks, livestreams and increasingly outrageous public stunts. As his operation expanded, luxury cars, private jets and scantily clad models became a regular part of his content.
Former employee Matthew Gonzalez, a content creator who has worked with Jake Paul and MrBeast, reportedly spent approximately six months working for Doherty in 2023. "He did whatever he had to do to get views," Gonzalez told the Daily Mail.
Gonzalez claimed Doherty's controversial behavior helped him build a large audience of young viewers. According to the former employee, that following was later used to promote models who sold adult content.
The arrangement allegedly allowed Doherty to profit from both the public videos featuring the women and their separate subscription-based accounts.
#content #allegedly
Doherty built his online following through confrontational pranks, livestreams and increasingly outrageous public stunts. As his operation expanded, luxury cars, private jets and scantily clad models became a regular part of his content.
Former employee Matthew Gonzalez, a content creator who has worked with Jake Paul and MrBeast, reportedly spent approximately six months working for Doherty in 2023. "He did whatever he had to do to get views," Gonzalez told the Daily Mail.
Gonzalez claimed Doherty's controversial behavior helped him build a large audience of young viewers. According to the former employee, that following was later used to promote models who sold adult content.
The arrangement allegedly allowed Doherty to profit from both the public videos featuring the women and their separate subscription-based accounts.
#content #allegedly
14 days ago
On August 5, OraSure Technologies (NASDAQ:OSUR) reported second-quarter 2026 results that included its first GAAP net income in years, a headline number of $6.2 million versus a $19.7 million loss a year earlier. Revenue of $30.6 million beat the company's own guidance range and climbed 9.7% from the prior quarter. But look past the top line and the story splits in two, one part driven by real operating progress, the other by an accounting adjustment tied to a regulatory setback.
Some of this quarter's improvement came from actual operations. Gross margin expanded to 43.5% on a GAAP basis, up from 42.1% a year earlier, and non-GAAP gross margin rose to 44.2% from 43.2%. Diagnostics revenue grew 1% year over year to $19.4 million, helped by higher syphilis test sales and the addition of BioMedomics' Sickle SCAN product line. OraSure also picked up two regulatory wins during the quarter. In June 2026, the FDA cleared its Colli-Pee Dx urine collection kit for use with Roche's **** ually transmitted infection tests, letting patients collect samples at home instead of in a clinic.
The following month, the FDA granted Emergency Use Authorization for the second-generation OraQuick Ebola 2.0 Rapid Antigen Test, which can detect all four Ebola virus strains known to cause disease in humans. Cash used in operating activities improved to $23.8 million over the first six months of 2026, down from $30 million a year earlier, a sign the cash burn is easing. The company also kept buying back stock, repurchasing $22 million of shares, or 7.7 million shares, against its $40 million authorization, retiring more than 10% of shares outstanding.
The GAAP profit that headlines this quarter didn't come from the business getting more profitable. It came almost entirely from a $22.6 million reduction in a contingent consideration liability, an accounting entry triggered when OraSure updated its regulatory submission plan for the CT/NG test on its Sherlock platform. Strip that adjustment out and the underlying trend looks different. Non-GAAP operating loss widened to $14.7 million from $13.2 million a year earlier, and non-GAAP net loss came in at $13.8 million, roughly in line with last year's $14.2 million loss. The regulatory event behind that accounting gain is itself a setback.
In July, OraSure withdrew its InteliQuick CT/NG molecular self-test submission after receiving FDA feedback, meaning the product's path to market is now delayed while the company prepares a future resubmission. Total revenue for the quarter was still down 2% year over year, and core revenue, which excludes COVID-19 and Risk **** sment Testing, was flat. Six-month revenue fell 4% to $58.6 million. Sample Management Solutions revenue stayed flat year over year at $9.9 million, showing no growth driver of its own. Cash and equivalents fell to $161 million at quarter-end from $199.3 million at the end of 2025, pulled down by continued buybacks and cash used in operations.
#year #gaap #reven
Some of this quarter's improvement came from actual operations. Gross margin expanded to 43.5% on a GAAP basis, up from 42.1% a year earlier, and non-GAAP gross margin rose to 44.2% from 43.2%. Diagnostics revenue grew 1% year over year to $19.4 million, helped by higher syphilis test sales and the addition of BioMedomics' Sickle SCAN product line. OraSure also picked up two regulatory wins during the quarter. In June 2026, the FDA cleared its Colli-Pee Dx urine collection kit for use with Roche's **** ually transmitted infection tests, letting patients collect samples at home instead of in a clinic.
The following month, the FDA granted Emergency Use Authorization for the second-generation OraQuick Ebola 2.0 Rapid Antigen Test, which can detect all four Ebola virus strains known to cause disease in humans. Cash used in operating activities improved to $23.8 million over the first six months of 2026, down from $30 million a year earlier, a sign the cash burn is easing. The company also kept buying back stock, repurchasing $22 million of shares, or 7.7 million shares, against its $40 million authorization, retiring more than 10% of shares outstanding.
The GAAP profit that headlines this quarter didn't come from the business getting more profitable. It came almost entirely from a $22.6 million reduction in a contingent consideration liability, an accounting entry triggered when OraSure updated its regulatory submission plan for the CT/NG test on its Sherlock platform. Strip that adjustment out and the underlying trend looks different. Non-GAAP operating loss widened to $14.7 million from $13.2 million a year earlier, and non-GAAP net loss came in at $13.8 million, roughly in line with last year's $14.2 million loss. The regulatory event behind that accounting gain is itself a setback.
In July, OraSure withdrew its InteliQuick CT/NG molecular self-test submission after receiving FDA feedback, meaning the product's path to market is now delayed while the company prepares a future resubmission. Total revenue for the quarter was still down 2% year over year, and core revenue, which excludes COVID-19 and Risk **** sment Testing, was flat. Six-month revenue fell 4% to $58.6 million. Sample Management Solutions revenue stayed flat year over year at $9.9 million, showing no growth driver of its own. Cash and equivalents fell to $161 million at quarter-end from $199.3 million at the end of 2025, pulled down by continued buybacks and cash used in operations.
#year #gaap #reven
15 days ago
I'll never forget the first time I encountered Grindr. In 2009, I was enjoying happy hour at Cobalt, a since-shuttered gay bar in D.C.'s Dupont Circle. My friend, spying the mustard skull on an iPhone (first released in 2007!) from across the room, nudged me. "That's the gay hookup app," he whispered scandalously.
When I got over the stigma of downloading Grindr, I was astounded how easy it was to flirt with nearby queer men — and to network. During RuPaul's Drag Race season 3, I changed my username to "Team Jujubee," a nod to a frontrunner, which helped me find a viewing-party friend in my neighborhood. When I lived in New York, I would sometimes engage in friendly chats with the app's gay founder, Joel Simkhai, who'd pop up on my grid from time to time.
For good and ill, tech and our relationship with it has changed a lot since the aughts. Gay apps are no longer a battery-draining novelty; for many, they're as quotidian as texting, a digital town square where a Madonna takeover and catfishing are commonplace. Many, like Grindr, are also now owned by straight people. And no need to comb the upper reaches of Cablevision's channels to find Drag Race anymore — there's an app for that too (several, in fact, depending on the region and season).
This is Out's Tech Issue, and we could think of no better cover stars that encapsulate this queer new media landscape than Trixie Mattel and Katya Zamolodchikova. These queens went through the TV crucible of the House of Ru to emerge as stars of social media and the podcast world. (Their popular podcast, The Bald and the Beautiful, just signed a three-year deal with SiriusXM.) In their cover story on page 36, the media mavens discuss their dizzying rise through the digital spheres — and how their real-life friendship has kept them grounded.
Elsewhere in cyberspace, the advent of artificial intelligence has brought many miracles but also new terrors in how our data can be exploited. Learn how to protect yourself in the online dating world via Last Call (page 58). Technology does have its benefits; find ways it can improve your looks in our Beauty guide (page 26). But it's also important to find ways to unplug. In Out Picks, our editors highlight products that help them blissfully disconnect (page 8).
#time #drag #first
When I got over the stigma of downloading Grindr, I was astounded how easy it was to flirt with nearby queer men — and to network. During RuPaul's Drag Race season 3, I changed my username to "Team Jujubee," a nod to a frontrunner, which helped me find a viewing-party friend in my neighborhood. When I lived in New York, I would sometimes engage in friendly chats with the app's gay founder, Joel Simkhai, who'd pop up on my grid from time to time.
For good and ill, tech and our relationship with it has changed a lot since the aughts. Gay apps are no longer a battery-draining novelty; for many, they're as quotidian as texting, a digital town square where a Madonna takeover and catfishing are commonplace. Many, like Grindr, are also now owned by straight people. And no need to comb the upper reaches of Cablevision's channels to find Drag Race anymore — there's an app for that too (several, in fact, depending on the region and season).
This is Out's Tech Issue, and we could think of no better cover stars that encapsulate this queer new media landscape than Trixie Mattel and Katya Zamolodchikova. These queens went through the TV crucible of the House of Ru to emerge as stars of social media and the podcast world. (Their popular podcast, The Bald and the Beautiful, just signed a three-year deal with SiriusXM.) In their cover story on page 36, the media mavens discuss their dizzying rise through the digital spheres — and how their real-life friendship has kept them grounded.
Elsewhere in cyberspace, the advent of artificial intelligence has brought many miracles but also new terrors in how our data can be exploited. Learn how to protect yourself in the online dating world via Last Call (page 58). Technology does have its benefits; find ways it can improve your looks in our Beauty guide (page 26). But it's also important to find ways to unplug. In Out Picks, our editors highlight products that help them blissfully disconnect (page 8).
#time #drag #first
15 days ago
Instead, on the latest episode of a podcast that continues to make NBA headlines, Green pivoted the conversation around the scandal to not just Leonard or the Clippers but the league's salary cap itself. "I think that's what comes out of this," Green said. "Why is there a salary cap? Why are guys being prevented from making money from team sponsors or league sponsors, or whoever else? "We talk about, we're in a league that is player-centric, that is player-focused, that is player-driven, that has the best benefits, best interest for the players. And here's a situation where a guy can make 20 to 30 million extra dollars, and we're like, 'Oh, yeah, you're in trouble.' I'm happy Kawhi didn't get the bulk of this punishment. I think it's absolutely beautiful."
This article originally appeared on Hoops Hype: Draymond Green on Clippers investigation: 'Why is there a salary cap?'
#player #think
This article originally appeared on Hoops Hype: Draymond Green on Clippers investigation: 'Why is there a salary cap?'
#player #think
16 days ago
We all celebrate the beginning of a new college football season because, no matter what kind of nonsense is happening off the field, we believe that once the competition begins it will unfold the way it always has.
Let the best team win.
That didn't happen in Ann Arbor, Michigan, on Saturday night. Not even close. Instead, the decision to give Michigan an extra second against Western Michigan — when the live video showed the clock expired and Bryce Underwood's Hail Mary pass still in the air — could turn into one of the biggest on-field scandals in college football history.
Welcome to another year of the Misery Index, a weekly feature where Yahoo Sports takes the temperature of college football fan bases that, as college football fan bases tend to do, react badly to losses, or sometimes even wins.
But unfortunately, the 2026 season must start with a story that should make all of us miserable.
#Football #michigan #bases #saturday
Let the best team win.
That didn't happen in Ann Arbor, Michigan, on Saturday night. Not even close. Instead, the decision to give Michigan an extra second against Western Michigan — when the live video showed the clock expired and Bryce Underwood's Hail Mary pass still in the air — could turn into one of the biggest on-field scandals in college football history.
Welcome to another year of the Misery Index, a weekly feature where Yahoo Sports takes the temperature of college football fan bases that, as college football fan bases tend to do, react badly to losses, or sometimes even wins.
But unfortunately, the 2026 season must start with a story that should make all of us miserable.
#Football #michigan #bases #saturday
16 days ago
1
INEOS encountered plenty of problems when trying to move Manchester United first team stars on, so they instead let go of numerous academy graduates this summer.
The likes of Toby Collyer, Louis Jackson, James Overy, James Scanlon, and Habeeb Ogunneye were all sold, and a few deals were justified.
But it came as a surprise to see the Red Devils part ways with Louie Bradbury, considering he had signed his first professional deal less than three weeks ago.
The Wales Under-19 international was on fire last season, scoring 10 times in all competitions, including twice for the Under-21s, despite being only 16 at the time.
#first #ineos #manchester #jackson
INEOS encountered plenty of problems when trying to move Manchester United first team stars on, so they instead let go of numerous academy graduates this summer.
The likes of Toby Collyer, Louis Jackson, James Overy, James Scanlon, and Habeeb Ogunneye were all sold, and a few deals were justified.
But it came as a surprise to see the Red Devils part ways with Louie Bradbury, considering he had signed his first professional deal less than three weeks ago.
The Wales Under-19 international was on fire last season, scoring 10 times in all competitions, including twice for the Under-21s, despite being only 16 at the time.
#first #ineos #manchester #jackson
16 days ago
TUCSON, Ariz. (AP) — Noah Fifita threw for 262 yards and two touchdowns, Kedrick Reescano ran for two scores and Arizona opened the season with a 35-7 blowout over Northern Arizona on Saturday night.
Coming off a nine-win season, the Wildcats (1-0) kicked off their third year under coach Brent Brennan with a dominating performance.
Fifita, the rare quarterback to play all five seasons with the same school, finished 22 for 29 before sitting out most of the fourth quarter. Arizona's defense held Northern Arizona to 193 total yards — minus-seven rushing — and sacked Ty Pennington five times, including 2 1/2 by Chase Kennedy.
The Wildcats jumped on the Lumberjacks (1-1) early.
Fifita hit Tre Spivey on a 20-yard touchdown on Arizona's opening drive and found Brandon Phelps on a 21-yard score in the second quarter. Fifita also had an 11-yard run, setting up Reescano's 1-yard dive that put the Wildcats up 21-0.
#wildcats #yard #season #tucson
Coming off a nine-win season, the Wildcats (1-0) kicked off their third year under coach Brent Brennan with a dominating performance.
Fifita, the rare quarterback to play all five seasons with the same school, finished 22 for 29 before sitting out most of the fourth quarter. Arizona's defense held Northern Arizona to 193 total yards — minus-seven rushing — and sacked Ty Pennington five times, including 2 1/2 by Chase Kennedy.
The Wildcats jumped on the Lumberjacks (1-1) early.
Fifita hit Tre Spivey on a 20-yard touchdown on Arizona's opening drive and found Brandon Phelps on a 21-yard score in the second quarter. Fifita also had an 11-yard run, setting up Reescano's 1-yard dive that put the Wildcats up 21-0.
#wildcats #yard #season #tucson
