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Tesla, Nvidia and Adobe are among actionable stocks while Bitcoin hit a record high ahead of the Coinbase IPO. JPMorgan earnings are on tap.
A Texas nonprofit that recently hired a Biden transition official got a contract worth as much as $530 million to help manage the influx of migrant children at the southern border, Axios has learned.Why it matters: The contract is by far the largest ever awarded to Family Endeavors. It's potentially worth more than 12 times the group's most recently reported annual budget — a sign of the demand the new work will place on its operations.Get market news worthy of your time with Axios Markets. Subscribe for free.The no-bid contract also is the second largest ever awarded by the agency overseeing the migrant child program.The award comes as the Biden administration rushes to deal with an influx of migrants at the border, including more than 21,000 unaccompanied minors currently in government custody, according to the latest data. Between the lines: Family Endeavors won the contract just months after it hired Andrew Lorenzen-Strait as its senior director for migrant services and federal affairs.Lorenzen-Strait, a former official at U.S. Immigration and Customs Enforcement, previously advised the Biden-Harris transition team on Department of Homeland Security policy and staffing matters.He also ran a consulting firm advising companies on federal procurement practices, according to his LinkedIn page, with specific expertise on agencies that include the Administration for Children and Families — the division of the Department of Health and Human Services tasked with detaining and processing child migrants.The Washington Examiner first reported on Lorenzen-Strait's role at Family Endeavors, in the context of an $87 million DHS contract awarded to the group last month.ACF officials did not respond to a request for comment from Axios. Family Endeavors said its contracting work on the border is "a continuation of services we have delivered to the migrant population since 2012."What's new: ACF contracted Family Endeavors last month to provide "emergency intake" and "wrap-around care" services at a temporary facility in Pecos, Texas.According to federal procurement records, ACF has disbursed $255 million to the nonprofit under the new contract, which has a maximum potential value of $530 million.Family Endeavors' most recent publicly available annual tax filing, covering calendar year 2018, showed its annual budget for the year was just $43 million.Before last month, it had never received a prime contract award from HHS, though, according to a source familiar with Family Endeavors' operations, it did provide staffing services at migrant intake shelters run by another HHS vendor, BCFS, in 2012, 2014, 2016 and 2019.The big picture: Other large ACF contracts went to for-profit firms with more experience working on such large-scale operations.The agency awarded more than $320 million to Rapid Deployment, a company whose CEO has been nicknamed the "master of disaster" for the extensive relief work his firm has done. It's also received nine-figure Pentagon contracts for work on military base camps.The only ACF contract larger than Family Endeavors' was a $719 million award to Deployed Resources last month, of which about $273 million has been obligated. That company also does extensive work for DHS and the Defense Department.Like this article? Get more from Axios and subscribe to Axios Markets for free.
Apr. 13—ae0d9d4a7a 568 Who should be the Week 6 prep athlete of the week? 2543 Lucy George, Woodland girls track and field 2544 Brig Griffin, Washougal boys track and field 2545 Brendan Leach, La Center boys soccer 2546 Casey Struckmeier, Columbia River baseball 2547 Bethany Tuchardt, Battle Ground volleyball Vote Results Loading ... Loading ... Here are the nominees for the Week 6 high school ...
Apr. 13—Cowlitz County will revert to Phase 2 in the state's reopening plan on Friday, Gov. Jay Inslee announced, and that will have an impact on high school sports throughout Southwest Washington. High-risk sports of basketball and wrestling were given the green light last month when the entire state moved the Phase 3. In Cowlitz County, at least, those sports have been put on hold. The 4A/3A ...
A leading conservative group is targeting the business community with a seven-figure ad buy on CNBC and local TV defending Georgia's new voting law from its corporate critics, Axios has learned.Why it matters: By focusing on the C-suite through a network it watches, Heritage Action for America is offering a rejoinder to some companies — even Major League Baseball — after they waded so prominently into politics.Get market news worthy of your time with Axios Markets. Subscribe for free.What they are saying: “President Biden is lying about Georgia’s new election reform,“ says a 60-second ad, which is part of a roughly $1 million buy on digital, cable and local television in Georgia. “This new ethics law doubles early voting on weekends.”Jessica Anderson, executive director for Heritage Action, told Axios: "After weeks of media spin and corporate posturing around Georgia's new voting law, we thought it was time someone told the truth."“The truth is that the new law makes it easier to vote and harder to cheat —Heritage Action is standing behind Governor (Brian) Kemp, state legislators and the Georgians who made this happen."The backstory: Critics of the law say its measures are intended to target heavily Democratic jurisdictions and will hurt Black and Latino voters the most.Georgia-based Delta Air Lines and other major businesses and civic groups have condemned the voting changes made in Georgia and other states following Biden's victory against President Trump in November.Major League Baseball responded by moving this year's All-Star Game from Atlanta to Denver.The reactions prompted criticism and warnings from Senate Minority Leader Mitch McConnell and other Republicans.Like this article? Get more from Axios and subscribe to Axios Markets for free.
It was previously announced that Rusten Sheskey would face no criminal charges in the Aug. 23 incident that left Blake paralyzed from the waist down.
The board of Toshiba Corp. is meeting Wednesday, amid Japanese media reports that the president is stepping down as the technology conglomerate studies an acquisition proposal from a global fund where he previously worked. Toshiba said decisions on directors will be discussed at the board meeting, and an announcement will be made, but declined to comment on the resignation. Nobuaki Kurumatani was the head of the Japan operations of CVC Capital Partners, which proposed the acquisition last week, before taking his post as chief executive of Toshiba in 2018.
Advocates and lawmakers favoring marijuana reform are trying to capitalize on the social justice movement and COVID-19 economic rebound to legalize and normalize the use of pot.Why it matters: The supporters are also trying to take advantage of polls showing broad public support — and get ahead of the reality Democrats could lose their control of Congress after the midterm elections next year.Get market news worthy of your time with Axios Markets. Subscribe for free.The big picture: Cannabis is big business. U.S. sales hit a record $17.5 billion last year. Revenue for the NFL was $12 billion, by comparison.Advocates note many dispensaries and legal marijuana distributors are run as small businesses and by minority owners.They cite those facts while courting pro-business Republicans.A Gallup poll in November also found 68% of Americans supported legalizing marijuana, a record high. There was majority support in every age group including 65+, and among about half of self-described Republicans, conservatives and weekly attendees of religious services.Driving the news: The United States Cannabis Council (USCC) was launched in February to coordinate and represent about 50 organizations and businesses promoting policy and legislation.Steven Hawkins, a social justice leader with roots in the NAACP and Amnesty International, is leading the effort. He is urging U.S. lawmakers to see the criminalization of marijuana users in the context of systemic racism and economic opportunity.Hawkins says the government should treat marijuana as it did alcohol after Prohibition. He advocates de-scheduling and turning it over to states to handle how and where it's sold and envisions local governments creating wet and dry counties — similar to booze.As more states legalize marijuana and open dispensaries, the group is also making an economic and small-business argument — especially to Republican lawmakers.What we're watching: On the legislative front, Senate Majority Leader Chuck Schumer of New York and Sens. Cory Booker of New Jersey and Ron Wyden of Oregon will soon introduce comprehensive cannabis legislation to decriminalize marijuana nationally.The three Democrats have long pushed for comprehensive reform of cannabis laws.Now, with their party controlling both chambers of Congress and Schumer at the helm of the Senate, they're plotting major cannabis reform.Yes, but: Any bill is going to need to receive a minimum of 10 Republican supporters to pass through the normal legislative process.There's currently bipartisan support for legislation already introduced that would protect banks servicing legal marijuana businesses from being penalized by federal regulators, and advocacy groups think it's the most realistic shot at progress.But Schumer doesn't think the banking bill is big enough, his aides tell Axios.He's committed to pushing through the broader package, pointing to the widespread support for legalization following the presidential election in November.Details: Hawkins tells Axios the Cannabis Council has met with roughly 90 lawmakers since its inception in February.The members are heavily courting six Republican senators in states that have already legalized marijuana: Sens. Susan Collins of Maine, Steve Daines of Montana, Lisa Murkowski and Dan Sullivan of Alaska, and John Thune and Mike Rounds of South Dakota.They're also planning to target Sen. Mike Lee of Utah, a key Republican who's taken a lead on criminal justice reform."Getting GOP support early on is key," Hawkins tells Axios. "If we can get 10 Republicans to vote for a pro-cannabis bill, I doubt we'd have a problem getting (President) Biden to sign it."Between the lines: Biden's support for the cannabis community is mixed. He hasn't embraced full legalization but has backed medical-use legalization, as well as decriminalization for possession.Vice President Kamala Harris supported legalization as a senator but now has to consider toting the administration line.Like this article? Get more from Axios and subscribe to Axios Markets for free.
Two border-district Democrats in Congress are pressing the Biden administration to revamp the asylum process, saying the current migrant surge is highlighting significant flaws in the system.Why it matters: These lawmakers say the administration needs to start making concrete changes by summer. "If it's this bad in 90 days, it's hard to have excuses," Rep. Vicente Gonzalez told Axios.Get market news worthy of your time with Axios Markets. Subscribe for free.Driving the news: Axios met with Gonzalez and Rep. Veronica Escobar last week in their Texas districts, which include the border cities of McAllen and El Paso.Both said better asylum systems and new pathways for Central American migrants can reduce future surges while ensuring humanitarian protections.Migrants must reach the U.S. to claim asylum. They must then prove they have faced — or have "a well-founded fear" — of persecution back home.The claims typically are heard by immigration judges, but the Trump administration made it more difficult to seek asylum in the U.S.Details: Escobar supports a plan — originally floated by the Migration Policy Institute's Doris Meissner — for immigration officers to adjudicate asylum claims at the border, rather than through backlogged immigration courts.The result would be faster asylum grants.The Biden administration is considering such a plan, a person familiar with a draft plan for regulations told Axios, and NPR also has reported. Escobar said asylum seekers still would need to be able to appeal negative decisions to the immigration courts — and that she'll push for better access to legal counsel for them.Gonzalez is promoting setting up "safe zones" in southern Mexico or Guatemala.They would be guarded centers where people could stay safely while their claims are processed by U.S. officials.The big picture: Both lawmakers say their constituents play unique roles in shaping the immigration debate because of how it impacts their everyday lives at the border.Escobar said she's asked Homeland Security Secretary Alejandro Mayorkas for more resources — including more COVID-19 vaccine doses for her district, given El Paso's exposure at the border.It's a "predominantly economically disadvantaged community that needs every resource it can have," she said.Gonzalez said McAllen is still awaiting federal government immigration-related financial reimbursements from 2019.The bottom line: "Our cities, our municipalities are spread thin," he said.More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
Rene Compean texted a friend Monday that he was lost and that his phone was dying before he went missing in the San Gabriel Mountains
Grupo Televisa, Mexico’s largest television network, announced Tuesday it is merging with U.S. Spanish-language broadcaster Univision to form what they called the “definitive global leader in Spanish-language media.” Televisa said Tuesday it will contribute its estimated 86,000 hours of annual content production; the combined conglomerate will feature Televisa’s four free-to-air channels, 27 pay-TV networks channels and subscription video service. Univision will contribute its namesake U.S. network and U.S. assets like UniMás, nine Spanish-language cable networks, and 61 television stations and 58 radio stations.
An expert called by the defence says officer Derek Chauvin acted with "objective reasonableness".
A three-part Purdue University webinar will discuss transformative innovations in agriculture & food for human health, equity, and competitiveness.
After a relatively quiet couple of months from Oculus on the software front, Facebook's VR unit is sharing some details on new functionality coming to its Quest 2 standalone headset. The features, which include wireless Oculus Link support, "Infinite Office" functionality and upcoming 120hz support will be rolling out in the Quest 2's upcoming v28 software update. The big addition here is a wireless version of Oculus Link which will allow Quest 2 users to stream content from their PCs directly to their standalone headsets, enabling more graphics-intensive titles that were previously only available on the now pretty much defunct Rift platform.
The CDC and FDA are recommending a pause in the use of the one-shot, Johnson & Johnson vaccine. Latest COVID-19 news.
(Bloomberg) -- Grupo Televisa SAB will sell its content and media assets to Univision Holdings Inc. in a deal valued at $4.8 billion, deepening ties between the two giants of Spanish-language TV.Televisa, Mexico’s top broadcaster, will remain the largest shareholder in the new Televisa-Univision, with an equity stake of about 45%, according to a statement Tuesday. Under the terms of the agreement, Televisa will receive $3 billion in cash and $1.5 billion in Univision equity.Teaming up with Televisa will help bolster Univision’s push into streaming. Though Univision is the largest provider of Spanish-language TV and radio content in the U.S., it hasn’t become as big a force online. Less than 10% of the Spanish-speaking population currently uses a streaming service, compared with 70% in the English-speaking market.“Televisa-Univision can more aggressively pursue innovation and growth through digital platforms as the industry continues to evolve,” Televisa Chairman Emilio Azcarraga said in the statement.The deal will be financed through $1 billion of Series C preferred equity investment led by SoftBank Latin American Fund -- with participation by Alphabet Inc.’s Google and the Raine Group -- plus $2.1 billion of debt commitments arranged by JPMorgan Chase & Co.Bloomberg first reported in March that Televisa and Univision were considering a deal, and it said last week that SoftBank Group Corp. was in talks to join the transaction.The transaction is expected to be completed this year, if it gets regulatory approval in the U.S. and Mexico. The boards of both companies have already signed off on the deal. Univision Chief Executive Officer Wade Davis will lead the combined company, while Televisa’s Alfonso de Angoitia will become executive chairman of its board. SoftBank’s Marcelo Claure will be vice chairman of the board.The new entity will be a colossus of Spanish-language programming, drawing on the more than 86,000 hours of content that Televisa produces a year. The business will get four free-to-air channels from Televisa, as well as 27 pay-TV networks and stations; the Videocine movie studio; the Blim video-on-demand service; and the Televisa trademark.Univision, meanwhile, already has its namesake broadcast network in the U.S., plus the UniMás channel, nine Spanish-language cable networks, 61 TV stations and 58 radio stations. It also recently introduced a streaming service called PrendeTV.Long PartnershipTelevisa and Univision have a long history together. They forged a truce in 2010 after years of acrimony, striking a deal to share programming. At the time, Televisa bought a 5% equity stake and debt that could be converted into an additional 30% holding. It paid about $1.2 billion.Since then, both companies have struggled to keep up with the streaming revolution. U.S. media giants such as Netflix Inc., Walt Disney Co. and Amazon.com Inc. have built online-video empires, and they’re increasing making content in non-English tongues, including Spanish.But Televisa remains a dominant force in Spanish-language broadcasting. It exports its programming not only to the U.S. but to much of Latin America and even Russia and China.“Televisa-Univision will emerge as the leading global Spanish-language multimedia company, uniquely positioned to capture the significant market opportunity for Spanish speakers worldwide,” Davis said.Televisa will keep its telecom and cable operations through its Izzi and Sky businesses, as well as the main real estate where productions are carried out, broadcasting licenses and transmission infrastructure in Mexico.News content production for Mexico will be outsourced via a company owned by Televisa’s owners, according to the statement.Televisa will use the proceeds from the deal to pay down debt and looks to push its debt-leverage ratio down below 2.0 times. After the transaction, Televisa will no longer consolidate financials of its content segment.(Updates with expected to closing date in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Elias Lindholm (Calgary Flames) with a Goal vs. Toronto Maple Leafs, 04/13/2021