Headlines
The Week Of July 7, 2024
Have you heard the news…?
PARAMOUNT & SKYDANCE STRIKE A DEAL
Skydance Media and Paramount Global have merged, with David Ellison as the new CEO of Paramount. He will be tasked with reviving the struggling company, which owns CBS, MTV, Nickelodeon, and a movie studio responsible for hits like The Godfather and Titanic. RedBird Capital will run the company day-to-day and own 70 percent of shares outstanding.
Ellison, a 41-year-old college dropout-turned-actor-turned-movie producer, will become Paramount’s new CEO. He’ll be tasked with restoring the beleaguered heavyweight to its former glory.
The deal is structured so that Skydance will acquire Paramount, with its leadership team taking over. They expect to own 70 percent of shares outstanding. The deal had to be sweetened due to complaints from non-voting shareholders about being diluted. It is expected to close by September 2025, but it is not a full buyout for Paramount shareholders. [Read more…]
How Wall Street Is taking the deal
MICROSOFT LEARNS HOW TO SPELL AFTER 40 YEARS
Microsoft added spellcheck and autocorrect to its Notepad app, which has somehow been around for 40+ years without either feature enabled. Finally I can make sense of those notes I jot down when I wake up in the middle of the night…
SPACE X WILL DESTROY THE INTERNATIONAL SPACE STATION
In a headline that sounds like the potential for a blockbuster disaster movie, SpaceX won a $843 million NASA contract to destroy the International Space Station. You read that right, folks. When the ISS is retired in 2030, a SpaceX-built spacecraft will guide the space lab out of orbit so it properly burns up on reentry. Save the date and remember, ‘don’t look up.’ [Read more…]
BIDEN NOT BOWING OUT
President Biden did his best impression of Leonardo DiCaprio in The Wolf of Wall Street on Monday vowing that ‘he’s not leaving.’
The President bluntly rejected suggestions that he bow out of the presidential race in a letter to congressional Democrats, arguing it would undermine the preference of voters and ignore his record. [Read more…]
I’m reminded of the Aesop Fable about the ass and his Driver:
An Ass was being driven along a road leading down the mountain side, when he suddenly took it into his silly head to choose his own path. He could see his stall at the foot of the mountain, and to him the quickest way down seemed to be over the edge of the nearest cliff. Just as he was about to leap over, his master caught him by the tail and tried to pull him back, but the stubborn Ass would not yield and pulled with all his might.
“Very well,” said his master, “go your way, you willful beast, and see where it leads you.”
With that he let go, and the foolish Ass tumbled head over heels down the mountain side.
The Moral: They who will not listen to reason but stubbornly go their own way against the friendly advice of those who are wiser than they, are on the road to misfortune.
Worthy Reads:
July 3, 2024
Three essential lessons from Croissant Man, AM-New York Man, and Guitar Man.
At New York’s Penn Station I frequently meet Croissant Man, AM-New York Man, and Guitar Man. Each of them teaches me something valuable.
I get a wake-up call when I greet Croissant Man with “Hi Jake, how are you doing?” He responds, “Another day.” Despite the intense boredom in his monotone response, his two words jolt me into making each day count. Being productive or bored is not up to chance; it’s up to me.
Another day” can be something you have to drag yourself through, or “another day” can be the opportunity of your lifetime. I remind myself of my goals and dreams to fulfill. Rabbi Tarfon teaches in Ethics of Our Fathers, “The day is short and the work is considerable.” Time, not money, is the real commodity that’s irreplaceable. Use it or lose it.
AM-New York Man has a completely different attitude as he enthusiastically proclaims in his sing-song style, “Good morning to you. Trust me… if you’re breathing, it’s a good morning!”
How often do I step off my commuter train in the morning and thank God that I am breathing? I’m usually running late thanks to Amtrak overhead wire troubles as I jog to the subway. AM-New York Man gives me a lot more than a free paper each morning. When you have your health and another day, you have the whole world at your disposal. He’s sharing Judaism’s age-old principle of life: Focus on what you have in life, not what you’re missing.
Guitar Man sings rock and roll music all day and never tires. His open guitar case has some coins and dollar bills, and a sign that reads, “I’m a street musician – too weird to live, too mean to die.” I’m don’t know what his sign means and I’ve never recognized one of his melodies, but Guitar Man’s unbelievable perseverance really inspires me. He stands in his corner of Penn Station, enthusiastically singing and strumming from sunup to sundown, even if his audience is only one person. I love his passion.
As I put a dollar bill in his guitar case, he smiles and sings the words, “Thank you brother, now you go have some fun… promise me.” The lesson he embodies: persevere in what you love.
To sum up my Penn Station teachers:
Do I use my time wisely?
Do I appreciate what I have?
Am I passionate about what I do?
I’ve learned so much and it’s not even 9 AM yet. Who ever thought that a daily commute could be so thought-provoking and one that leads to wisdom, as Ben Zoma taught in Ethics of the Fathers (4:1): Who is wise person? The one who learns from every person.
On this day: In 1850, President Zachary Taylor died mysteriously after 16 months in office. The former Mexican-American War hero served as the 12th president of the United States from 1849 until his death in 1850. Taylor had eaten cherries with iced milk, then water, leading to speculation that he may have died of cholera present in either the ice or water. Taylor had the third-shortest presidential term in U.S. history.