Daily Archives: April 15, 2022

The Centers for Disease Control (CDC) this week commenced a sweeping agency review that will examine the institution's response to the COVID-19 pandemic as well as its ongoing efforts to manage the outbreak.

More than a dozen people close to the CDC told CNN that the agency requires major changes if it aims to respond deftly and effectively next time a pandemic arises.

New York Times best-selling author Michael Lewis agrees. Lewis, whose latest book "Premonition" chronicles the experts who perceived the threat posed by the COVID pandemic in its early days, sharply criticized the CDC during a new interview with Yahoo Finance.

He said the CDC primarily monitors outbreaks rather than controlling them. Political influence on the agency often prevents decisive action, he noted.

"As currently structured, the CDC kind of demonstrated that it wasn't the Centers for Disease Control, it's more like centers for disease observation and reporting," Lewis said.

"They've kind of gotten out of the business of controlling disease," he added. "It's controversial, it's political, it's unpleasant."

"It requires [a] real kind of leadership that they have a hard time providing as a politicized institution," he said.

The CDC has drawn criticism from across the political spectrum for some elements of its COVID-19 response. Last May, the agency lifted an indoor mask mandate but re-imposed the guideline just two months later. The agency took almost two years to acknowledge that N95 masks prevent COVID-19 more effectively than cloth masks.

Defenders of the CDC have noted that scientific research moves slowly because it often requires lengthy studies, and that agency guidelines have shifted appropriately in response to a volatile pandemic.

Last May, President Joe Biden proposed an $8.7 billion budget allotted to the CDC for fiscal year 2022, which marked the largest funding increase at the agency in nearly 20 years, CNBC reported. In turn, the Biden administration budget proposal for 2023, released last month, would boost the agency's budget to $10.6 billion.

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Lewis questioned whether the Biden administration has "grappled with the deep issue" of the CDC's ineffectiveness.

"You don't really want to give them $8 billion and say, 'Just you do more of the same,'" Lewis said.

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, speaks to Rochelle Walensky, Director of the Centers for Disease Control and Prevention, prior to a Senate Health, Education, Labor, and Pensions Committee hearing on Capitol hill in Washington, D.C., U.S., July 20, 2021. Stefani Reynolds/Pool via REUTERS

Despite a critical view of the CDC, Lewis lauded a program at the agency that would help predict the timing and location of future disease outbreaks.

"In fairness, inside the CDC, they're trying to build a structure that we should have had long ago, which is kind of like a National Weather Service for disease," he said. "That we should have better predictability."

"It would go a long way to stopping pandemics before they happened," he added. "I'm not sure inside the CDC is the best place to do it."

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Michael Lewis on the CDC: 'It's more like centers for disease observation and reporting' - Yahoo Finance

Elon Musk says he is a free-speech absolutist.Jae C. Hong/AP

Elon Musk, who has a 9.2% stake in Twitter, is no longer its largest shareholder.

Vanguard Group said its funds now own a 10.3% stake, according to a recent SEC filing.

Musk said on Thursday he's "not sure" if his $43 billion takeover bid for Twitter will be successful.

Elon Musk has lost his position as Twitter's largest shareholder as he attempts to buy the company in a $43 billion deal.

The Tesla and SpaceX boss said in early April he had become Twitter's largest shareholder, having built a 9.2% stake in the micro-blogging platform.

But he has now lost the top spot: An asset manager at Vanguard Group said in a filing submitted recently to the Securities and Exchange Commission that, as of April 8, its funds now own a 10.3% stake in the company, which is worth $3.6 billion as of Friday's close.

The filing shows Vanguard increased its stake in Twitter over the course of the first quarter.

On Thursday, the world's richest man unveiled a $43 billion bid for the entire company, in a take-it-or-leave-it offer.

Musk is still the largest individual shareholder, with Twitter cofounder Jack Dorsey the second largest. Musk said on Thursday, hours after making the offer, that he's "not sure" whether his takeover bid will be successful.

"I am not sure that I will actually be able to acquire it," Musk said while speaking at the TED 2022 conference in Vancouver on Thursday.

Musk said that he had a "plan B" if his bid was unsuccessful, but did not elaborate on what that would be.

Speaking to TED chief, Chris Anderson, Musk explained that he made the offer because he believes it's important to have an "inclusive arena for free speech."

"This is not a way to make money," Musk said. "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."

In a letter to Twitter's chairman on Wednesday, Musk said his $54.20-per-share offer was his "best and final" offer.

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He said if the offer isn't accepted, he may dump his massive stake in the company and walk away entirely.

Twitter confirmed Thursday that it had received "an unsolicited, non-binding proposal from Elon Musk" and said it would "carefully review the proposal to determine the course of action that it believes is in the best interest of the company and all Twitter stockholders."

Musk tweeted on Thursday that it would be "utterly indefensible" for Twitter to not put his offer to a shareholder vote.

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Elon Musk is no longer Twitter's largest shareholder and says he's 'not sure' his takeover bid will be successful - Yahoo Finance

Top Rank paid reputed Irish mobster Daniel Kinahan more than $1 million for each of four bouts involving Tyson Fury it promoted from 2019 through 2021, Top Rank chairman Bob Arum told Yahoo Sports.

Arum, whose company will co-promote Furys April 23 title defense in London against Dillian Whyte with Frank Warrens Queensbury Promotions, told Yahoo Sports Thursday hed paid Kinahan at least a million in each of those four fights against Deontay Wilder twice, Tom Schwarz and Otto Wallin. The fights between Fury and Wilder were each for the WBC heavyweight title. The other two bouts were non-title matches.

Top Rank paid the money to a company called Hoopoe Sports Agent that is registered in Dubai, United Arab Emirates, for what Arum said were consulting fees owed Kinahan. The deals for the Fury fights were put together by Harrison Whitman, Top Ranks former general counsel, who is now the chief strategy and legal officer of a new boxing promotional company called Probellum.

Top Rank came to terms on a co-promotional deal for Fury on Feb. 18, 2019, not long after Furys split draw with Wilder, the then-WBC heavyweight champion, on Dec. 1, 2018, in Los Angeles. That bout was promoted and staged by Premier Boxing Champions and televised on pay-per-view by Showtime.

Kinahan is accused by the U.S. government of running an international drug ring and of trafficking firearms. At a news conference in Dublin Tuesday attended by the U.S. Ambassador to Ireland and other high-ranking Biden Administration officials, the U.S. put sanctions on Kinahan, his father and brother and several associates.

The sanctions freeze his assets in the U.S., including bank accounts. His credit cards have been blocked and he cant fly on U.S. airlines. The government put up a $5 million reward for his arrest and conviction, as well as rewards of $5 million each for his father, Christopher V. Christy Kinahan Sr. and his brother, Christopher V. Kinahan Jr.

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Hoopoe Sports Agent was among the companies sanctioned.

Kinahan fled to Dubai, where he is now believed to live, in 2016 after rival gang members disguised as police officers tried to shoot him at a weigh-in at the Regency Hotel in Dublin.

Top Rank, as have many in boxing, has begun to disassociate itself from Kinahan, as a result of the U.S. sanctions.

Kinahan helped found MTK Global in 2012, which has turned into a strong promotional company which promotes many of the sports biggest stars, including Fury.

Furys fight with Dillian Whyte on April 23 in Londons Wembley Stadium is expected to have a European record attendance of 94,000 fans. Arum said Thursday the live paid gate will be over $26 million.

Kinahan, he stressed, is not part of Saturdays card and has not been involved in it from the beginning, Arum said.

Bob Arum and Tyson Fury laugh during a news conference at MGM Grand Hotel & Casino on Sept. 11, 2019 in Las Vegas. (Photo by Ethan Miller/Getty Images)

Arum was asked how he reconciled doing business with Kinahan at all considering his unsavory reputation when they began with each other approximately five years ago.

Kinahan called me and we had a long conversation, Arum told Yahoo Sports. He has kids and he said he wanted to get out of that other stuff. He said to me, Bob, Ive done some bad things in my life. I admit that. But Im not involved with that any more. Im just trying to clean up my life and be a legitimate business man. I wasnt involved in any of the things he might have done before and he was telling me he wasnt doing anything.

But Arum said after a smooth working relationship for a while, things began to change. Kinahan began to use bully tactics, Arum said, at the same time he was hearing that Kinahan may still have been involved in questionable activities.

Arum said thats when his company began to fully disassociate with him.

There came a time that we discovered that he might still have been involved in some nefarious activities, Arum said. That was enough for us.

Arum, 90, is a Harvard-educated attorney. In 1961, he began working in the Kennedy Administrations Justice Department in the tax division. In 1962, he was assigned to confiscate proceeds from a Sept. 25, 1962, heavyweight title bout between Sonny Liston and Floyd Patterson.

He met people during that process who led him to become a boxing promoter himself.

But he said he doesnt expect the U.S. or any other government to conduct any raids on his event on April 23.

We are complying with all government laws and regulations, as we always do, Arum said. But I dont expect anything [like a seizure] to occur because Kinahan has had no involvement in this event whatsoever.

MTK Global released a statement Thursday disassociating itself with Kinahan and insisting hed not been with the company since 2017.

In a statement attributed to Bob Yalen, its CEO, MTK Global said it would comply with the U.S. sanctions handed down Tuesday.

MTK Global will comply fully with the sanctions made by the US government against Daniel Kinahan. MTK parted ways with Mr Kinahan in February 2017. He has had no interest in the business since then, and will have no future involvement with us.

MTK operates ethically, transparently and lawfully. We will cooperate fully with all authorities and assist with any ongoing investigations.

MTK Global will take every measure to ensure the company, and those who deal with it are fully compliant with the US sanctions announced this week and take this matter extremely seriously.

Arum said Top Rank wouldnt credential anyone from either MTK Global or Probellum, a boxing promotional company formed in September, because of what he said were their ties to Kinahan.

The name Probellum was originally owned by MTK Global to promote MMA fights. But Richard Schaefer, the Swiss banker and former CEO of Golden Boy Promotions, who was hired on as Probellums president last year, vehemently denied any involvement with Kinahan.

The company is owned, Schaefer said, by British businessman Ali Shams Pour, who owns a soccer team in Ireland.

Probellum released a statement on Wednesday denying involvement with Kinahan.

Probellum takes the sanctions made by the US Treasury extremely seriously and the business and its employees will be fully compliant with them.

We have retained counsel in the U.S. to ensure that we fully comply with all rules, regulations and requirements related to this matter, including not working with any individual or company that has been placed under U.S. sanctions.

This includes Daniel Kinahan and we can confirm that we will not have any business relationship or communication with him whatsoever.

Bob Arums comments implying that Top Rank has ceased a business relationship with Probellum are baseless.

Top Rank is a competitor and since Probellums inception, Top Rank has never worked directly with us. Any suggestions that Daniel Kinahan is a shareholder or owner of Probellum are false and defamatory.

In a lengthy conversation with Yahoo Sports, Schaefer adamantly denied any ties to Kinahan but said the name Probellum and its logos and marks were chosen prior to him coming on board.

I have a great life and I dont need to do this, Schaefer said. I have a great wife of more than 30 years. My kids are doing well. Why would I want to do that [get involved with an alleged mobster] at this stage of my life? It makes no sense. I dont need that.

He is not with us and hasnt been with us. Its reckless of Bob to make those allegations.

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Top Rank paid alleged mob boss over $4M in consulting fees for Tyson Fury fights in Las Vegas - Yahoo Sports

Sanctions on Russia have effectively isolated Vladimir Putins country from the global economy, with the country at increased risk of not being able to pay its bills.

The major credit rating agencies have begun the process of declaring the country in default, which generally refers to a government unable to meet obligations on its debt.

The agencies add that further sanctions at the end of May will further ratchet up pressure on Russia.

On Friday, S&P Global Ratings downgraded Russias foreign currency issuer credit rating to selective default after the country failed to make U.S. dollar payments to some of its bondholders. It is the first default call among the three major credit rating agencies.

April 4 was the due date for the Russian government to make coupon and principal payments to foreign bondholders expecting to be paid in U.S. dollars. The government appeared to make the payments but in rubles.

Although Russia has a 30-day grace period to make the payments as promised, S&P Global Ratings said it was unlikely, as further Russian aggression in Ukraine fuels the expectation for more sanctions.

We currently don't expect that investors will be able to convert those ruble payments into dollars equivalent to the originally due amounts, S&P Global Ratings said in its note issued on April 8.

The ratings agencies have noted that there are further headwinds for Russias ability to repay.

U.S. investors are currently allowed to receive Russian debt payments via an exemption in U.S. sanctions, but the temporary measure is set to expire on May 25.

Photo taken on March 24, 2022 shows ruble banknotes and coins in Moscow, capital of Russia. Russia will reject U.S. dollars or euros and only accept rubles for its natural gas supplied to "unfriendly countries," including the European Union EU members and the United States, President Vladimir Putin said Wednesday. (Photo by Bai Xueqi/Xinhua via Getty Images)

After that date, U.S. residents will require a specific license to continue to receive debt repayments, which will further impair investors' ability to receive sovereign debt repayments, Moodys noted on March 22.

Last month, Moodys said there was a very high risk of a Russian default as Fitch declared that Russia appeared to begin a default-like process on its foreign-currency debt.

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The ratings agencies have all withdrawn their credit ratings on Russian entities to comply with European Union sanctions (although limited circumstances allow the publication of updates like those from S&P last week).

Since Russias invasion of Ukraine in late February, Western countries have moved to essentially unplug the entire country from the global financial system. In addition to isolating Russian banks individually, the U.S. government and its allies cut off Russian firms from the international payment system (known as SWIFT).

But the most crippling measure: sanctions against the Russian central bank. The U.S. Treasury in late February blocked off the Russian central banks access to any of its assets in the U.S. Doing so harms the governments ability to defend the Russian ruble from rapid devaluation.

Although this shouldnt affect the Russian governments ability to pay domestic bondholders in rubles, blocking the country off from access to U.S. dollars makes it far more difficult to meet payments on bonds issued in foreign currency as the ones due on April 4 are structured.

Brian Cheung is a reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter @bcheungz.

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Russia faces increased risk of default as key US sanction exemption expires in May - Yahoo Finance

The list of prospects attending the 2022 NFL draft in Las Vegas has been announced, and it's just as notable for who is not planning to attend as it is for who is.

The NFL released a list of 21 players scheduled to attend. On the list are two quarterbacks and it might not be the two you see most commonly atop mock drafts.

Liberty quarterback Malik Willis is on the list of 21. So is Ole Miss' Matt Corral. But Pitt QB Kenny Pickett was not listed.

This could mean a number of things. One possibility that can't be dismissed is that the league's view of Pickett as a prospect is lower than the draft media contingent is. But it's certainly possible that Pickett doesn't care to attend the draft and prefers to be around friends or family or both for his big day.

According to a report from Pittsburgh Sports Now, Pickett plans to be in his hometown in New Jersey with his family and fiance on draft weekend.

In fact, it's arguable that Michigan EDGE Aidan Hutchinson the possible No. 1 selection actually attending the event is somewhat rare, at least compared to recent years, when many top prospects have skipped the event.

But Corral, our No. 43 overall prospect, being invited is interesting. He's shown up in some first-round projections recently, but it's not a universal belief that he's assured of being taken in Round 1, even considering that he plays the most important position in the sport.

Typically, though, prospects invited to the draft are viewed as having a decent chance of hearing their name called in the first 32 selections.

Another highly regarded prospect, Georgia EDGE Travon Walker our No. 7 overall prospect and a possible top-five selection wasn't on the NFL's list. He's our highest-rated prospect not attending, followed by Washington CB Trent McDuffie (our No. 10 prospect), LSU CB Derek Stingley Jr. (No. 12), Northern Iowa OT Trevor Penning (No. 13) and Michigan DB Dax Hill (No. 16).

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Some players such as Washington CB Kyler Gordon, Boston College OL Zion Johnson and Georgia LB Nakobe Dean are attending, and they're not viewed as iron-clad, no-doubt first-rounders.

Here's the full list in alphabetical order:

Mississippi QB Matt Corral

Mississippi State OT Charles Cross

Georgia DT Jordan Davis

Georgia LB Nakobe Dean

North Carolina State OL Ikem Ekwonu

Cincinnati CB Ahmad "Sauce" Gardner

Washington CB Kyler Gordon

Notre Dame S Kyle Hamilton

Michigan EDGE Aidan Hutchinson

Boston College OL Zion Johnson

Florida State EDGE Jermaine Johnson

Purdue EDGE George Karlaftis

Utah LB Devin Lloyd

USC WR Drake London

Alabama OL Evan Neal

Ohio State WR Chris Olave

Oregon EDGE Kayvon Thibodeaux

Alabama WR Jameson Williams

Liberty QB Malik Willis

Ohio State WR Garrett Wilson

Georgia DT Devonte Wyatt

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Two quarterbacks will be attending the 2022 NFL draft, and one is a surprise - Yahoo Sports

Before celebrating the arrival of the next generation of WNBA players on Monday, commissioner Cathy Engelbert addressed the perilous plight of one of the game's biggest stars.

Engelbert kicked off Monday's WNBA draft with an update on Phoenix Mercury All-Star Brittney Griner, who remains imprisoned in a Russian jail. Engelbert didn't provide specifics on Griner's situation, but did assure reporters that Griner is "safe."

"Obviously were getting a ton of support from the government, from specialists," Engelbert said. "And her representation is able to visit with Brittney.

"We know shes safe, but we want to get her home. So its just a very complex situation right now and were following the advice. Theres not a day that goes by that were not talking to someone that has views on what were doing and how were moving forward."

Brittney Griner remains detained in Russia. (AP Photo/Rick Scuteri, File)

Griner, a seven-time WNBA All-Star, was detained on drug charges in February after allegedly being found with cartridges containing hashish oil during an airport security check in Moscow. She was traveling to join her Russian team UMMC Ekaterinburg, for whom she plays during the WNBA offseason.

Her detainment was reportedly extended last month until May 19 as the state continues its investigation. If found guilty on transportation of drug charges, she faces up to 10 years in prison.

Griner's detainment took place in the days before Russia's invasion of Ukraine, raising fears that Russian President Vladimir Putin could use her as a bargaining chip in the ongoing conflict. U.S. Department of State spokesman Ned Price announced on March 23 that an American embassy representative in Russia was allowed to check in on Griner that day. Price announced that she was in "good condition" without providing further details on her well-being.

Information on her condition continue to be sparse as the U.S. government navigates complicated diplomatic terrain with a Russian government that engages openly in human rights abuses. White House Press Secretary Jen Psaki has largely declined to elaborate when asked about Griner, telling reporters in March that discussing specifics is "not constructive to bringing people home." Describing Griner's detainment as an "unimaginable situation," Engelbert reiterated that reality on Monday.

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"Obviously were in a very complex geopolitical situation with Russia and Ukraine, and so this continues to be complex," Engelbert said. ... "I know were all frustrated, but we do need to be patient. I know the players have been amazing at following the advice that theyre getting and were getting in order to not jeopardize her safety in any way. So we just continue to follow that advice and continue to work on it."

Engelbert also announced that the WNBA will carry on and expand Griner's BG's Heart and Sole Shoe Drive across WNBA cities. Griner has spearheaded the initiative to collect shoes for the homeless in Arizona since 2016.

"We will have a league-wide philanthropic initiative led by the Phoenix Mercury honoring BG and modeled after her work," Engelbert said. "That will take place in all 12 WNBA markets. ... The activations we will do that the Mercury will lead are intended to remind us of BG's spirit of giving and do the work that she'd be doing if she were here and the work she will join us in when she returns."

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WNBA's Cathy Engelbert on Brittney Griner: 'We know she's safe,' we 'need to be patient' - Yahoo Sports

Many potential fantasy waiver wire gems emerge during the initial weeks of every season. This year, I constantly see recommendations to pick up the likes of Steven Kwan, Tylor Megill, Jesus Luzardo and many other players who started the season on waivers in most leagues before producing inspiring April statistics.

Unfortunately, rosters dont grow in size after Opening Day, and every addition means that someone needs to go. Based on early season numbers, here are some commonly-rostered players in Yahoo! leagues who can be considered for a drop. Please remember that I am not insisting on dropping these players, but I have identified them as having a higher roster percentage than they deserve.

Because he is unable to hit lefties, Winker will not produce the necessary volume of counting stats to help those in three-outfielder leagues. Also, the move from Great American Ball Park to Safeco Field will take a negative toll on the sluggers offensive numbers. Winker will have some value this year, but not enough to make him a roster lock in the shallowest formats.

Bellinger was a complete bust last season (.542 OPS), hit .179 in Spring Training and was off to a poor start this season before homering on Wednesday. The former NL MVP has a level of upside that is worth waiting for in some leagues, but I wouldnt argue with anyone who wanted to move on and stream his roster spot until they find someone who is playing well.

Edman lost a massive amount of fantasy value when Cards manager Oliver Marmol moved him from the leadoff spot. The switch will cost the speedster many plate appearances, runs and stolen bases, which makes him a marginal option in leagues of 12 teams or less. I understand that some roto teams will need to keep Edman for his speed potential, but I would be on the lookout for an upgrade.

We needed just one week of regular-season action to figure out that Giants manager Gabe Kapler is using a closer committee. McGee is a part of the ninth inning picture in San Francisco, but his role is not good enough to make him a must-roster player in shallow leagues. Managers can consider dropping McGee for someone who may soon become a full-time closer. And I could say the same thing about Camilo Doval, who is rostered in 71 percent of leagues.

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Gallo is going to give you 30-40 homers and destroy your batting average along the way. You dont need to sign up for that tradeoff drop Gallo now and start looking for a power hitter who can bat .240 or better.

Torres is stuck in a crowded Yankees infield that includes Josh Donaldson, DJ LeMahieu, Isiah Kiner-Falefa and Anthony Rizzo. He may not get enough volume to break out of his long-term slump, which includes just 12 homers 67 RBIs and 67 runs scored in 169 games across the 2020-21 seasons.

Both Gleyber Torres and Joey Gallo are drop candidates in fantasy baseball leagues. (Photo by Sarah Stier/Getty Images)

Ryu faded in the second half of 2021 (5.50 ERA) and struggled in his first start of this season (3.1 IP, 6 ER). The 35-year-old has always survived without strong radar gun readings, but his time as an effective Major League starter may be nearing its end. And because he logs low strikeout rates, Ryu needs low ratios in order to help fantasy teams.

Strasburg has thrown just 26.2 innings since the outset of the 2020 season and isnt worth waiting around for in most leagues. Im fine with stashing the right-hander in an open IL spot, but I would send him to waivers as injuries pile up and those spots become precious in the coming weeks.

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Suarez is the infield version of Joey Gallo he can get you plenty of homers but will kill your batting average along the way. And the 30-year-olds new home park is less favorable than his old one. I would move on now; start looking for a power hitter with a better batting average.

Kirilloff underwent season-ending wrist surgery in 2021, started slowly this year and is now on the IL due to continued wrist problems. I believe that the 24-year-old still has long-term potential, but he could take some time to shake off the effects of the surgery and was never viewed as someone who will be a fantasy superstar.

Villar will likely have stretches of mixed-league relevance this season, but he will need the Cubs to run into some injury issues for that to happen. For now, the veteran speedster should sit on waivers in leagues of 12 teams or less.

See Gallo and Suarez. Wisdom has a small sample size of MLB success, and he will hurt your batting average even when things are going well. There is no wisdom in keeping this slugger on your roster (sorry, I couldnt resist).

This is one of my most controversial choices, but Baddoo is batting at the bottom of the Tigers lineup and has not shown an ability to hit lefties. Although the sophomore has a nice power-speed blend, he needs more opportunities to show off those skills. Im not ruling out the possibility that Baddoo spends time in the Minors this year.

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Fantasy Baseball: It's time to drop these players in favor of waiver wire pickups - Yahoo Sports