Good Morning! On this date in 1883, the Brooklyn Bridge, one of the wonders of its age, opened after 14 years of construction, connecting Brooklyn and Manhattan across the East River. (See Video)
The U.S. Navy, Marine Corps, and Coast Guard are currently celebrating Fleet Week in New York. The annual tradition gives civilians a chance to tour ships and see demonstrations by our men and women in uniform. It’s a unique opportunity to display patriotism and respect for those who serve.
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NCAA Approves $2.77 Billion Settlement
The NCAA Division I Board of Directors agreed this week to a proposed $2.77 billion settlement of House vs. NCAA, a class-action lawsuit that seeks to remove limits set on NIL deals and pay damages to former college athletes for denying them potential past earnings.
The NCAA needs the Power Five Conferences to sign off on the settlement as those organizations were also named in the lawsuit. So far, the Atlantic Coast Conference, Big Ten, Big 12, and Southeastern Conference have agreed to the settlement. The Pac-12’s approval is expected.
If the agreement moves forward, the NCAA is expected to pay out the $2.77 billion settlement over the next 10 years. The money is expected to come from revenue withholdings, conferences, and athletic departments.
This story is just getting started, and you can follow along with NIL Wire, a newsletter dedicated to the world of the NCAA’s Name, Image, and Likeness economy. Sign up with one click!
Feds File Antitrust Suit Against Ticketmaster
The Justice Department filed suit against Ticketmaster and its parent company Live Nation, accusing the company of an illegal monopoly over the live entertainment industry.
The suit claims the company’s control of ticket sales thwarts competition and charges excess fees to consumers. Justice officials are seeking structural changes to Live Nation-Ticketmaster, including potential breaking it apart.
Ticketmaster’s mishandling of tickets for Taylor Swift’s “The Eras” tour in 2022 caused a huge public outcry and helped fuel the anti-trust investigation. The suit was joined by 30 state and district attorneys general.
Memorial Day Travel, Expect Delays
Nearly 44 million people are expected to travel during the Memorial Day weekend, and travel website Skyscanner has put together a list of destinations to avoid if you are looking for a relaxing holiday. See the list here.
The top five domestic cities to bypass, according to Skyscanner, are Las Vegas, New York, Los Angeles, San Francisco, and Miami.
The FAA believes the Memorial Day weekend will begin the busiest summer travel season in almost 15 years and expects a huge demand in airline tickets this season. AAA warns motorists to expect traffic jams and congestion on the nation’s highways.
If crowded airports and traffic delays weren’t enough, the National Weather Service expects severe weather to strike many parts of the country.
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➤ The Senate voted 43 to 50 to block a bipartisan border security bill for a second time Thursday, in what critics believed was an attempt to bolster Democrat messaging on the border crisis. (More)
➤ Former Republican presidential candidate Nikki Haley said she will vote for Donald Trump this November, despite having said during the primaries that Trump was “not qualified” to lead the nation. (More)
➤ The Biden administration is expected to announce an additional $275 million in military aid for Ukraine today. This would be the fourth installment of aid for Ukraine since last month’s foreign aid bill passed. (More)
➤The Supreme Court reversed a lower court’s ruling in a 6-3 decision Thursday, saying that South Carolina’s Republican-controlled legislature did nothing wrong during congressional redistricting. (More)
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1. “Journal of Retirement Study Winter” (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.
➤ The Phillies’ 11-4 victory over the Rangers Wednesday moved Philadelphia’s record to 36-14— the best 50-game MLB season start since the 2001 Seattle Mariners. (More)
➤ The Cleveland Cavaliers fired coach J.B. Bickerstaff after five seasons Thursday, despite guiding the team to its first Eastern Conference semifinals in six seasons. (More)
➤ Uzbekistani gymnast Oksana Chusovitina will miss her first Olympic Games since 1992 after an injury prevented the 48-year-old from qualifying for the national team. (More)
NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations
16,736.03
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SPX S&P 500
5,267.84
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DJI Dow Jones Industrial Average
39,065.26
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BTC Bitcoin
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GOLD Per Ounce
$2,330.65
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CYTK Cytokinetics, Incorporated
$48.98
–17.31%
➤ Big Stock Move: Cytokinetic stock fell 17% Thursday after the company announced pricing of a public offering of its shares at $51 a share. (More)
➤ Stocks fell heavily Thursday in the market’s worst day of 2024, with the Dow falling 600 points despite a rally Nvidia shares. (More)
➤ Shares of Chinese tech giant Alibaba fell by more than 5% Thursday, following a report the company has considered selling convertible bonds to raise $5 billion. (More)
➤ Salaries for Florida housekeepers are as high as $150,000 a year as a shortage of household staff applicants ignited a bidding war among wealthy Palm Beach and South Florida residents. (More)
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➤ The Euclid space mission released five new images of far-flung cosmic objects in much closer detail than previously seen, using both visible and infrared light. (See Images)
➤ Scientists are using a new technique to create lab-grown diamonds in 15 minutes at normal atmospheric pressure and without a starter gem, a breakthrough for creating lab-grown gems. (See Video)
➤ Paleontologists working in a rich fossil field in Patagonia uncovered the bones of a new species of dinosaur they dubbed Koleken inakayali. It has only miniature, vestigial arms. (See Image)
➤ A teenage violinist who broke her wrist just before a gig was still able to perform after her father, a professional fiddle player, stepped up to handle the bow for her in a remarkable duet. (See Video)
➤ How to propose to a book lover: Put the engagement ring inside a fake romance novel titled “Marry Me, Mon Cutie” that you design yourself, then give it to your intended in a real bookstore. Works every time. (See Video)
➤ An Oregon homeowner came across a deer and a rabbit in the backyard and shot an adorable video of what looks like a play-date for Bambi and Thumper. (See Video)
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➤Bark Air, the first airline dedicated to dogs and their owners, launched Thursday, offering Gulfstream G5 jet travel to dogs regardless of size or breed. Tickets run $6,000 for domestic travel. (More)
➤In other canine news, drug-sniffing dogs helped law enforcement officials seize nearly six tons of narcotics inside a shipment of produce this week, keeping $18 million in drugs off the streets. (More)
➤ Billionaire Robert Hale Jr. gifted every 2024 graduate of the University of Massachusetts Dartmouth with $1,000 last week and challenged the students to give half of it away. (More)
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Have you ever reconnected with an old friend from your past?
“We haven’t seen any pullback in travel since the pandemic. Year after year, we have seen these numbers continue to grow. We don’t know when it’s going to stop.”
NCAA Approves $2.77 Billion Settlement
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