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   PoliticsA Real American President: Donald Trump

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From: Sr K8/2/2020 8:05:22 PM
2 Recommendations   of 430595
7:38 PM

Trump Speaks With Microsoft CEO About TikTok Deal

Administration weighs whether to bless a deal that would give Microsoft control of the Chinese video-sharing app TikTok in the U.S.

WASHINGTON—President Trump spoke by phone Sunday with Microsoft Corp. MSFT Chief Executive Satya Nadella, people familiar with the matter said, as the administration weighs whether to bless a deal that would give the company control of the Chinese video-sharing app TikTok in the U.S.

Details of the call weren’t immediately available. But as of late Sunday, Mr. Trump was said to be leaning toward supporting a plan that would give TikTok a short window to sell itself, as long as the terms addressed the administration’s national security concerns, White House officials said.

A White House spokeswoman declined to comment.

U.S. officials have expressed concerns that TikTok, which is owned by Beijing-based ByteDance Ltd., could pass on the data it collects from Americans to China’s authoritarian government. TikTok has said it would never do so. Officials also worry that the app could be used to spread Chinese propaganda and that the platform’s moderators are censoring content to appease Beijing. The company has said it is increasingly adapting its content policies to be tailored to local markets where it operates, including the U.S., and that Beijing doesn’t dictate policies for those.

Earlier Sunday, Treasury Secretary Steven Mnuchin said there was agreement in the Trump administration and among congressional leaders that TikTok can’t operate in the U.S. in its current form, citing national-security concerns. He said the president could force a sale or block the app in the U.S. using existing authority.

“Everybody agrees it can’t exist as it does,” Mr. Mnuchin said.

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From: Sr K8/2/2020 8:06:47 PM
1 Recommendation   of 430595

Fuel maker Marathon Petroleum has agreed to sell its gas stations to the owners of the 7-Eleven convenience-store chain for $21 billion in the largest U.S. energy-related deal of the year.

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From: Sr K8/2/2020 8:18:46 PM
1 Recommendation   of 430595
7:03 PM

Luxury Department Store Lord & Taylor Files for Bankruptcy

Chain’s owner, the fashion rental service start-up Le Tote, also files
Luxury department store chain Lord & Taylor filed for bankruptcy along with its owner, the venture-backed fashion-rental subscription service Le Tote Inc.

Sunday’s chapter 11 filings in the U.S. Bankruptcy Court in Richmond, Va., come less than a year after Le Tote agreed to buy Lord & Taylor from Hudson’s Bay Co., the parent of Saks Fifth Avenue.

Lord & Taylor temporarily closed its 38 bricks-and-mortar locations in March but has continued to operate through online channels during the coronavirus pandemic.

Founded in 2012, Le Tote rents women’s clothing and accessories for a flat monthly fee. Backers of the San Francisco company include venture-capital firms Andreessen Horowitz, Y Combinator and Google Ventures.

As Americans’ spending on apparel has plunged, thousands of retailers have been forced to shut their doors, some for good. Since March, a number of major clothing retailers have been pushed into bankruptcy, including Brooks Brothers Group Inc., J.C. Penney Co.,Neiman Marcus Group Ltd. and J.Crew Group Inc.

Lord & Taylor’s bankruptcy advisers include Kirkland & Ellis LLP financial adviser Berkeley Research Group, LLC and investment bank Nfluence Partners.

The case number is 20-33332.

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To: isopatch who wrote (217941)8/2/2020 8:19:55 PM
From: Bearcatbob
2 Recommendations   of 430595
The Covid jump is classic. Covid bad, Orange man bad, Covid starts to disappear, loony left riots, Covid jumps, Orange man bad. Jordan trying to get Fauci to own up re the riots was classic.

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From: zoltaneering8/2/2020 8:20:44 PM
5 Recommendations   of 430595
Kalifornia Karen (Renouncing) Bass.

I see that there are articles about Bass' "renouncements" and "addressments".

First she renounced her praise of Fidel Castro.

Then she "addresses" her praise of Scientology.

Looks like this Kalifornia Karen is "Biden My Time" for her Dem. V.P. nomination.

WOW! Should we laugh or cry? I believe both would be appropriate.


Karen Bass renounces her praise for Fidel Castro

She told Fox host Chris Wallace that her perspective “developed over time.”


Rep. Karen Bass, potential VP pick, addresses her past praise of Scientology

The California Democrat, among the top contenders to become Joe Biden's running mate, defended her previous comments on the Church of Scientology.

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To: Sr K who wrote (218048)8/2/2020 8:36:51 PM
From: Sr K
1 Recommendation   of 430595
This is too much of a coincidence not to post:


Fuel maker Marathon Petroleum Corp. MPC said it has agreed to sell its gas stations to the owners of the 7-Eleven convenience store chain for $21 billion in the largest ]U.S. energy-related deal of the year.

The all-cash agreement with 7-Eleven Inc. comes less than a year after Marathon agreed to spin off its convenience-store chain, known as Speedway, under pressure from activist investors including Elliott Management Corp.

Findlay, Ohio-based Marathon had been close to a deal with Seven & I Holdings Co., SVNDY -3.19% the Japanese parent of 7-Eleven Inc., earlier this year, but talks fell apart in March as the coronavirus pandemic took hold. The company revived sales discussions months later, The Wall Street Journal reported in June. Other suitors included Canada-based convenience-store chain Alimentation Couche-TardInc. ATD.B

“Our announcement crystalizes the significant value of the Speedway business, creates certainty around value realization and delivers on our commitment to unlock the value of our assets,” Marathon Chief Executive Michael Hennigan said in a statement.

The Speedway deal includes about 3,900 convenience stores and would bring 7-Eleven’s retail footprint in the U.S. and Canada to around 14,000 locations. Under the agreement, expected to close early next year, Marathon would supply 7-Eleven with about 7.7 billion gallons of fuel per year for 15 years.

“This acquisition is the largest in our company’s history and will allow us to continue to grow and diversify our presence in the U.S., particularly in the Midwest and East Coast,” 7-Eleven CEO Joe DePinto said in a statement. “By adding these quality locations to our portfolio, 7-Eleven will have the opportunity to bring convenience to more customers than ever before.

There has been ]a flurry of energy deals in recent weeks during what has otherwise been a slow year for oil-and-gas-related acquisitions. Last month, Chevron Corp. agreed to buy Noble Energy Inc. for about $5 billion, and Berkshire Hathaway Inc. inked a deal to buy Dominion Energy Corp. ’s natural-gas storage and transmission network for $4 billion, excluding debt.

Marathon’s sale of its gas-station chain would provide a cash infusion for a company that, like other U.S. refiners, has been badly bruised by a decline in fuel demand because of the pandemic. It told employees Friday that it has no plans to restart two refineries that it idled this spring.

The company said it expects the deal to generate about $16.5 billion in after-tax proceeds, which it plans to use to pare debt and “return capital to shareholders.”

Marathon, which reports second-quarter earnings Monday, posted a $9.2 billion first-quarter loss, its largest on record, in May as it took $12.4 billion in charges. As of Friday, the company’s shares had lost more than a third of their value since the end of last year, slightly more than the decline in U.S. benchmark oil prices.

Elliott has repeatedly called on Marathon to split into three businesses—a gas-station chain, a pipeline business and a fuel-making operation—saying the integrated model left the company undervalued.

Marathon acquiesced in part last fall, saying that it would spin off Speedway and that Gary Heminger, the company’s chief executive at the time, would step down. Elliott didn’t immediately respond to a request for comment Sunday evening.

Write to Rebecca Elliott at

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To: Bearcatbob who wrote (218050)8/2/2020 8:37:00 PM
From: isopatch
   of 430595
Roger that.

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To: Sr K who wrote (218052)8/2/2020 9:10:37 PM
From: DMaA
2 Recommendations   of 430595
In the last year a big chain here rebranded hundreds of stores to Speedway. Now they're going to rebrand as 7-11?

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From: Sr K8/2/2020 9:23:50 PM
1 Recommendation   of 430595
Futures mixed, after AAPL's big move Friday
NDX100 38.50 (saw it moved to 40), then 50
Dow -17 (then green)

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From: DMaA8/2/2020 10:07:28 PM
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Maybe we should defund these ass holes. What good are they?

The Minneapolis Police Department is advising residents of the city to “Be prepared to give up your cell phone and purse/wallet” if approached by robbers, and “Do not argue or fight with the criminal. Do as they say.”

You're on your own minneapolis.

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