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Good morning!
I would like to wish everyone who celebrates Passover, Easter or Ramadan a wonderful holiday weekend.
Here's today's rundown:
Elon Musk wants ALL of Twitter. But what does he want to do with it?
The Brooklyn subway terror attack suspect is being held without bail. We'll look at his criminal record and troubling social media history.
Ukraine says it sunk a major Russian war ship. And Europe is considering a phased-in ban on Russian oil.
Amazon's adding a 5% "fuel and inflation surcharge" to seller fees.
No more nose swabs? The FDA grants emergency authorization for first COVID-19 breathalyzer test.
And they're baaaack: The Kardashians new show premieres on Hulu. What else we're watching, reading and eating this weekend.
Hope you have a great weekend!
~ @Mosheh
Elon Musk's offer to buy Twitter for $43 billion in cash-- at $54.20 a share (emphasis on 420)-- is getting mixed reactions from Twitter employees and Wall Street insiders.
What does he want? Musk said he wants to take the company private to "unlock" Twitter's "extraordinary potential." At a TED conference on Thursday, Musk said he isn't sure if he will succeed but added: “My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization... I don’t care about the economics at all.” ~ Washington Post
Musk says he would advocate for "time outs" instead of "permanent bans"-- meaning former President Trump could potentially return to the platform. He also wants to get rid of spam and bot armies from Twitter. Twitter has failed to grow users and revenue as compared to other tech companies for years. ~ Financial Times
What's Next: Twitter says it will "review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders.” For his part, Musk wrote on Twitter that he thinks the decision should be up to shareholders.
One major company shareholder sounding off is Saudi Arabia’s Prince Alwaleed bin Talal, who tweeted that he disapproves of the takeover. Elon replied pretty quickly.
The Numbers: Musk is offering $54.20 a share, which he says is his "best and final offer." In the amended SEC filing, Musk wrote that $54.20 per share is a 54% premium on the stock, compared to $39. That was the price on the day before Musk began investing in the company. ~ Yahoo Finance
Bloomberg News reports that even though Musk is the richest person in the world, he will still need to borrow $36 billion through a loan or a major Tesla stock selloff. (see below)
So Can Twitter Say No? Experts are split. CNBC's Jim Cramer says the board must reject the offer given that Twitter was trading at $70 a share last summer. Wedbush's Dan Ives says if the board rejects the offer, it would likely "cut the stock in half." (And Mark Cuban thinks Musk is just "*f'ing with the SEC.") ~ CNBC
Inside Twitter: CEO Parag Agrawal held an all-hands meeting Thursday where he took questions from a number of employees who expressed concerns. But he insisted that: "I don’t believe we are being held hostage." ~NY Times
Wild Times: It's been a crazy couple of weeks for Twitter. Just days ago we learned Musk had become the company's largest shareholder with a 9% ownership stake. He then had a seat on Twitter's board. Then he didn't. Now he wants the whole thing!
Reaction: And here's how Twitter is reacting to Musk's offer to buy Twitter. ~ Mashable
Frank James, the 62-year-old Brooklyn subway shooting suspect, appeared before a judge in federal court on Thursday and was charged with a terrorist attack against a mass transportation system.
Prosecutors say he "carefully planned" the attack, which left at least 29 people injured, including 10 with gunshot wounds, and "presents a severe and ongoing danger to the community." He's now being held without bail. ~ USA Today
Winik said James picked up a U-Haul in Pennsylvania before driving to Brooklyn, armed with everything "he needed to carry out the mass attack." That includes: a Glock 17 pistol, a container of gasoline, a torch, fireworks with explosive powder, and a disguise composed of a yellow hard hat and an orange working jacket.
For his part, James said nothing except that he understood the charges against him. If convicted, he faces a maximum sentence of life in prison.
Who is Frank James? Police say he has an extensive criminal history and was "known" to law enforcement before the attack.
Rap Sheet: He has nine prior arrests in New York, dating from 1992 to 1998. He was arrested four times for possession of burglary tools, once for a criminal sex act, twice for theft of service, once on a New Jersey warrant and once for criminal tampering. He also has three prior arrests in New Jersey. ~ Daily Mail
Social Media: James' online history includes posting numerous racist, antisemitic and threatening videos on YouTube as 'Prophet of Truth 88'.
He predicted a race war between Black and white people. He also made threats against various groups including Black people, white people, Jews and Mexicans. In his latest uploaded video on April 11, 2022, James said that he has wanted to watch people die. ~ Newsweek
In a symbolic and strategic blow, a Russian warship stationed in the Black Sea has sunk. Ukrainian officials say the "Moskva" was hit by a Ukrainian missile attack. Russia claims the cause was an accidental explosion aboard the ship. Either way, this is a big loss for Russia and "a significant sign of Kyiv's military capability." ~ NY Times
Sanctions: The European Union is reportedly considering phasing in a ban on Russian oil. This would give Germany and other countries time to find alternative oil sources. ~ Reuters
US Aid: A senior US defense official says the US is developing training for Ukrainian forces to teach them how to use new weapons being sent their way. ~ Washington Post
Meanwhile, German authorities say they've impounded the world’s largest superyacht--estimated to be worth $600 million. It belongs to Russian oligarch, Alisher Usmanov. ~ UPI
Amazon is taking a step to offset its rising costs, announcing Wednesday it will add a 5% “fuel and inflation surcharge” to fees it charges third-party sellers. In a notice sent to sellers, the company said its costs had gone up since the beginning of the pandemic due to increases in hourly wages, the hiring of workers and construction of more warehouses. (Associated Press)
The interest rate on America’s most popular mortgage hit 5% for the first time in more than a decade, extending a sharp rise that has yet to significantly slow the red-hot housing market. (Wall Street Journal) Before you complain to older family members at a holiday meal this weekend, check out this 40 year mortgage chart.
Chinese President Xi Jinping says the country will keep its 'zero Covid' approach, even as residents in Shanghai grow increasingly frustrated with delays and disruption sparked by a poorly-implemented lockdown. “Prevention and control work cannot be relaxed,” Xi said. (Fortune)
**ICYMI: We got an exclusive look at a Covid quarantine facility (jail?) in Shanghai. Alessandro Pavanello, an Italian living in China, who is currently being held at one of these facilities, spoke to us about the experience and gave us a behind-the-scenes tour. WATCH
According to InspectIR, the test is performed by exhaling into a tube in a similar manner to blowing up a balloon and produces results within three minutes. In a study of 2,409 people, the test correctly identified a positive COVID infection in 91.2% of cases and correctly identified negative samples 99.3% of the time, the FDA said. (USA Today)
Four years after being fired from CBS and PBS over sexual harassment allegations, Charlie Rose is making his return with an extensive interview with business magnate Warren Buffett. The new conversation appeared this Thursday on Rose’s personal website, which also features archival interviews. (Variety)
What We're Reading: "Sexy Lingerie for Men is Here" (NY Times) Reminder that this section is not called What We're Wearing.
What We're Eating: Matzo. Matzo Brei. Matzo Balls. You get the picture.
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