All articles tagged with #financial problems
Malik Beasley was evicted from his Detroit apartment amid mounting financial issues and an FBI gambling investigation, with legal actions for unpaid rent and reports of broader money troubles, though no criminal charges have been filed against him.
Malik Beasley, an NBA player for the Detroit Pistons, is facing multiple financial issues including lawsuits, debt, and an FBI investigation into wire fraud and gambling, amid a successful season on the court.
MyPillow, owned by Mike Lindell, has been evicted from its warehouse in Shakopee, Minnesota, after a lawsuit claimed the company was over $200,000 behind on rent payments. The landlord, First Industrial, LP, alleged that MyPillow had defaulted on rent for several months and was owed over $200,000. Lindell, who faces financial challenges and legal battles, including a $1.3 billion defamation lawsuit from Dominion Voting Systems, has admitted to being out of money and facing significant losses due to his election fraud claims.
Despite ongoing financial problems at New York Community Bancorp, the big bank trade remains undeterred, with the CNBC Investing Club continuing to provide updates for investors, including the Homestretch feature by Jim Cramer.
Vice Media plans to lay off several hundred employees and cease publishing on its Vice.com website as part of a strategic shift following financial difficulties. The company, which filed for bankruptcy last year, is also looking to sell its Refinery 29 publishing business. This move reflects broader challenges in the media industry, with digital sites like BuzzFeed News and legacy outlets like the Los Angeles Times also facing job cuts. Vice's CEO cited the need to reposition the company for long-term success and emphasized a shift towards a studio model and greater emphasis on social channels for content distribution.
Vice Media, once valued at $5.7 billion, is shutting down its Vice.com website and laying off several hundred employees as part of a strategic shift following its bankruptcy filing last year. The company, now valued at $350 million, is also looking to sell its Refinery 29 publishing business. This move reflects the ongoing financial challenges facing the media industry, with digital sites like BuzzFeed News and legacy media outlets like the Los Angeles Times also experiencing job cuts. CEO Bruce Dixon cited the need to reposition the company for long-term success and announced a shift towards a studio model and a greater emphasis on social channels for content distribution.
Vice Media plans to lay off several hundred employees and cease publishing on its Vice.com website, as part of a strategic shift following its bankruptcy and sale last year. The company, once valued at $5.7 billion, is also looking to sell its Refinery 29 publishing business. This move reflects the ongoing financial challenges in the media industry, with digital sites like BuzzFeed News and legacy outlets like the Los Angeles Times also facing job cuts.
A federal judge has ordered Rudolph Giuliani to immediately pay $148 million to two former Georgia election workers for falsely accusing them of manipulating ballots after the 2020 election. The judge cited concerns that Giuliani might hide his assets if given more time. However, there is no indication that Giuliani has the funds to pay the amount owed. The decision adds to Giuliani's legal troubles, as he faces an array of woes for his efforts to keep former President Donald J. Trump in office. The election workers requested expedited payment, citing Giuliani's history of failing to obey court orders and his financial difficulties. The judge agreed, noting Giuliani's record of disregarding orders and attempts to conceal assets.
Electric scooter company Bird, once valued at $2.5 billion, has filed for Chapter 11 bankruptcy in Florida. The company, which was one of the pioneers in renting out electric scooters, faced financial difficulties exacerbated by the COVID-19 pandemic. Despite the bankruptcy filing, Bird's services will continue to operate as normal. The company aims to restructure its capital structure and achieve profitability. Bird has faced controversy in the past, including accusations of a toxic corporate culture and inflating revenue. The company's shares lost 90% of their value after its IPO in 2021, and its founder, Travis VanderZanden, left the company earlier this year.
Epic Games CEO Tim Sweeney admitted during Unreal Fest that the company faced a "financial problem" 10 weeks before announcing layoffs. Sweeney stated that the layoffs were a necessary survival move to stabilize the company's finances and avoid running out of money. Epic Games heavily relied on the revenue from Fortnite, but despite its success, the company was spending more than it was making. The ongoing legal feud with Apple and generous revenue splitting were cited as costly ventures. To expand revenue streams, Epic plans to increase the price of Unreal Engine but not for game developers, instead opting for a "seat-based" pricing model.
Democrats in Pennsylvania are expressing concerns about the competency of the state party leadership, including chair Sharif Street. The party is facing financial problems, including layoffs and a lack of trust across the party. There are worries that the party will not be in a strong position for the upcoming presidential election and key Senate race. Disagreements with national Democratic officials and slow response times have further strained relationships. Despite the challenges, some Democrats believe the party can turn things around before the 2024 election.
Kim Zolciak and Kroy Biermann's marriage appears to be on the rocks as Kroy files for divorce for the second time, citing financial problems as a major factor. The couple is facing a $1.1 million IRS bill, a $15,000 tax bill to the state of Georgia, and a $156,000 lawsuit from a credit card company. Despite Kim's optimism about reconciling, Kroy's attorney confirms that he is moving forward with the divorce. Lawyer Neama Rahmani suggests that the couple should consider filing for bankruptcy to start fresh, as their personal and professional lives seem to be in disarray.
Barcelona will be without the home advantage of their 99,000-seat Camp Nou stadium this season as it undergoes renovations, forcing the team to play at the smaller Lluís Companys Olympic Stadium. With a reduced capacity of 49,000, the atmosphere will be quieter and less intimidating for rivals, while also resulting in lower revenues for the financially struggling club. Barcelona's temporary home has received mixed reviews from fans, with concerns about accessibility. The renovation of Camp Nou is expected to be completed by 2026, with the new stadium seating 105,000 people and offering improved retail services.
Chicago's next mayor will inherit a city with deep financial problems, including massive deficits and a pension hole. The city's economy is still on shaky footing post-pandemic, with tourism, convention business, CTA ridership, and office and retail occupancy not yet returned to 2019 levels. The next mayor will face a projected deficit between $500 million and $600 million heading into 2024, with no cushion of federal funds to rely on. Both mayoral candidates have differing views on whether there is enough money already in the system or if they will need to raise revenue to do more.