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Category Archives: Yahoo
Psaki lauds Fauci after release of emails from early days of the pandemic – Yahoo! Voices
Posted: June 4, 2021 at 4:04 pm
During the White House briefing on Thursday, press secretary Jen Psaki praised Dr. Anthony Faucis role in the countrys response to the coronavirus pandemic, after his emails from January to June 2020 were released this week as the result of Freedom of Information Act requests by news organizations.
- Thank you, Jen. I know that you don't want to really litigate what happened when Biden was in the Oval Office and when those emails--
JEN PSAKI: Uh-oh, that's a set-up. [CHUCKLES]
- Fair enough. But has anyone from your team briefed the president on what was in those [INAUDIBLE] Fauci emails?
JEN PSAKI: I'm not aware of him being briefed on the publicly reported emails.
- And then given that there were some things that Fauci said privately that contracted-- contrasted with what he said publicly, whether it was masks or whether or not someone who had the virus could have immunity, or you know, other questions as well. I mean, does he still have confidence in his NIH Director? Does this change anything at all, because--
JEN PSAKI: No, the president and the administration feel that Dr. Fauci has played an incredible role in getting the pandemic under control, being a voice to the public throughout the course of this pandemic. And again, I would reiterate, a lot of these emails are from 17 months ago or more, certainly predating this administration, but some time ago in-- as we look to history.
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Ignyte Acquisition Corp. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q – Yahoo Finance
Posted: June 2, 2021 at 5:50 am
Ignyte Acquisition Corp. (NASDAQ:IGNYU) (the "Company") today announced that on May 28, 2021 it received a notice from Nasdaq Regulation indicating that, as a result of not having timely filed its Quarterly Report on Form 10-Q for the period ended March 31, 2021 (the "Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the "SEC").
The Nasdaq notice has no immediate effect on the listing or trading of the Companys units, Class A ordinary shares or warrants on the Nasdaq Capital Market. The Notice provides that the Company must submit a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) by July 26, 2021. If the plan is accepted by Nasdaq, then Nasdaq can grant the Company up to 180 calendar days from the due date of the Form 10-Q, or November 22, 2021, to regain compliance.
As the Company reported in its Form 12b-25 filed with the SEC on May 17, 2021, the Company is working diligently to complete the Form 10-Q as soon as possible; however, given the scope of the process for evaluating the impact on the Companys financial statements of the Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies ("SPACs") issued by the staff of the SEC on April 12, 2021, the Company is not in a position to file the Form 10-Q until after the completion of this process.
This press release contains statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for its initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210601005937/en/
Contacts
David RosenbergCo-Chief Executive OfficerIgnyte Acquisition Corp.drosenberg@ignytespac.com
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Why SoFi’s dealmaking CEO went the SPAC route for its IPO – Yahoo Finance
Posted: at 5:50 am
SoFi's (SOFI) long-awaited IPO on Tuesday isn't the first time CEO Anthony Noto has had a splashy deal day.
Noto is a former tech analyst and investment banker at Goldman Sachs who spent more than 12 years at the firm (1999 to 2008, then a return from 2010 to 2014 after a stint in between as the NFL's CFO). He played a key role in Twitters IPO while at Goldman he then joined CEO Jack Dorsey at the company as chief operating officer for an almost four-year period.
Given that extensive dealmaking experience and the uncanny sense of the market that comes with it it should't be a surprise that Noto opted for a clever SPAC transaction to finally bring SoFi public.
"The vehicle for us [SPAC] was a unique way for us to achieve private capital and have certainty of the deal closing, and in addition to going public and having it all in one packaged product," Noto said on Yahoo Finance Live. "We had a unique circumstance in that we had a significant amount that was preferred stock and the IPO wasn't the most easiest and cost efficient way to convert the preferred into common stock, which was necessary for us to apply for a bank license and to be able to go public."
SoFi essentially merged Tuesday with blank check company Social Capital Hedosophia, backed by well-known venture capital investor and SPAC fan Chamath Palihapitiya.
But since SoFi announced the transaction back in early January, SPACs have come under considerable fire from investors and regulators for their skirting of the transparency inherent to a traditional IPO process. The company's that have arrived to market via SPAC have also been attacked for their eye-popping losses, suspect disclosures and insane forward-looking projections (see electric vehicle maker Lordstown, for example).
And investors have made their concerns about SPACs heard.
The SPAC and New Issue ETF (SPCX) an investment vehicle that invests most of its net assets in SPACs has plunged 15% from its late February record high. Individual companies that have come to market via SPAC in recent months have fallen even harder for instance, electric vehicle maker Nikola (a 2020 SPAC) has crashed 46% from its latest January high amid concerns on its viability from short-seller Hindenburg Research.
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"I think with the evolution of any new financing vehicle there is a cycle that ensues where there is a lot of interest in that cycle and you have a broad-based number of participants that come in. And then there is often a shakeout. Ultimately quality emerges from that shakeout, and it becomes more narrow of an opportunity that will persist over time," Noto explains of the 2021 SPAC sell-off.
LOS ANGELES, CALIFORNIA - SEPTEMBER 15: SoFi CEO Anthony Noto looks on before the game between the Los Angeles Rams and the New Orleans Saints at Los Angeles Memorial Coliseum on September 15, 2019 in Los Angeles, California. (Photo by Sean M. Haffey/Getty Images)
SoFi has several things in its favor unlike other recent SPACs, which probably explains why the stock spiked 7% in its trading debut Monday.
First, is an experienced executive team run by Noto. Two, is a credible board of directors with a mix of tech and investment banking experience. The SoFi board will soon be getting a knowledge boost via the arrivals of Noto friends in former Goldman Sachs president and COO, Henry Schwartz, and former Twitter CEO Dick Costolo.
And finally, SoFi has a real business that is delivering actual financial results in 2021 as Noto has expanded into stock investing, crypto investing, IPO investing and other financial services since arriving as CEO in 2018. Previously, SoFi was just known as a school loan refinancer.
SoFi's first quarter sales rose 151% year-over-year to $216 million. The company posted its third straight quarter of adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] profits. The number of members on the platform have grown at an accelerated growth rate for seven consecutive quarters.
For 2021, SoFi forecasts sales of $980 million and adjusted EBITDA of $27 million.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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The economy will probably overheat this summer: top strategist – Yahoo Finance
Posted: at 5:50 am
TipRanks
When the best talk, people listen. It works in all walks of life, but especially the stock market. Investors are keen to read the latest stock reviews from Wall Streets professional analysts, but knowing whos the best is the place to start. Covering the markets for investment firm and brokerage Oppenheimer, Colin Rusch has built a reputation that puts him at the top of the Streets analyst corps. Hes currently rated #7 overall by TipRanks, out of more than 7,500 analysts offering regular coverage of the markets. Ruschs ranking is based on more than 400 published reviews, that have accumulated a 63% success rate and an investor following Ruschs recommendations in the past year would have seen a 64% average rate of return. So, lets catch up with some of Ruschs recent stock notes. Using the TipRanks platform, weve looked up two calls of his and two factors popped out right away: these are Buy-rated stocks with more than 100% upside potential for the year ahead. And for the retail investor, seeking a bargain in the markets, the low point of entry sweetens the pie; each of these stocks is trading for less than $10 per share. Here are the details. Aeva Technologies (AEVA) Well start with Aeva Technologies, a company working in the field of perception and sensing technology an essential field in the autonomous automobile industry. Aevas main project is the development of 4D LiDAR-on-chip, an achievement which will turn sensing systems on their head by combining silicon photonics, precision velocity measurement, and long-range performance. The resulting package will enable faster and more accurate sensing in driverless vehicles, for better detection and avoidance of obstacles, whether stationary of mobile. Success in this endeavor will give Aeva a clear path forward to success in the autonomous car field. Back in March, Aeva entered the public trading markets through a SPAC transaction with InterPrivate Acquisition. The merger completed on March 15, and AEVA shares started trading on the NASDAQ on that day. In sharp contrast to last year, SPACS have generally had a hard time in 2021s stock market, and so has Aeva; the shares have slipped since the public debut. However, AEVA stock hit its trough in mid-May and has been regaining value in the last couple of weeks, after the company released its 1Q21 earnings results the first as a publicly traded entity. At the top of the earnings release, Aeva announced that its SPAC merger had netted the company $513 million, and that it had $523 million in cash reserves available at the end of Q1, compared to just $24.6 million at the end of 2020. In a key development update, Aeva revealed that its third generation LiDAR chip is in its final architecture and has integrated all of the core LiDAR components. The company is engaged in setting up production lines for the new chip. In his coverage of AEVA shares, Colin Rusch writes, AEVA continues to make tangible progress toward commercializing its FMCW-based 4D lidar announcing its ability to offer 500m range on existing hardware via a firmware upgrade. We believe the flexibility and potential future proofing of systems enabled by its software defined architecture combined with the velocity information is critical for its customers and the potential for product improvement during its useful life. We are encouraged by AEVA delivering its Gen 3 chip design ahead of schedule. We continue to see AEVA as a long-term winner in the lidar and autonomous space Rusch rates this stock as Outperform (i.e., a Buy), and his $20 price target implies it has room for 104% growth in the next 12 months. (To watch Ruschs track record, click here.) Wall Street generally is even more bullish here than Rusch is. The Strong Buy analyst consensus rating is unanimous, based on 5 recent reviews, and the $23.40 average price target suggests a robust 139% upside potential from the trading price of $9.76. (See Aevas stock analysis at TipRanks.) Aqua Metals (AQMS) Our modern world has brought us technological marvel but also an enormous level of industrial pollution. Among the worst pollutants is lead. Lead has been used in a wide range of products, most notably in pipes and batteries, from which it can leach into the environment and then into us where its toxic effects are proven dangerous. This makes lead one of the most recycled materials in the world today. Aqua Metals specializes in clean recycling technology for lead acid batteries. The company uses its proprietary AquaRefining process a water-based, room temperature lead refining process that is non-polluting to replace the current system of high-temperature lead smelting. Such lead smelting is one of the worlds most polluting industries. Aqua Metals has a huge potential market, as some 80% of the lead used in the battery industry is recycled. While dangerously toxic, these batteries are going to be with us for at least the foreseeable future, as lead acid batteries are also the only 100% recyclable and rechargeable batteries on the market. The company is working to expand its niche, and it has applied, earlier this year, for patents in the field of lithium ion battery recycling. Where lead acid batteries are heavily used in industrial applications, lithium ion batteries are ubiquitous in electronics and they contain of host of other toxic metals, such as cobalt, nickel, and manganese. Aqua Metals hopes to apply its refining technology to these batteries, as well. Aqua Metals processes are not yet in operational use, and so the company has no revenues and earnings to speak of. In the first quarter of 2021, Aqua Metals reported a net loss of $4.1 million, coming to 6 cents per share, compared to the $4.4 million, 7-cent per share, net loss reported in the year-ago quarter. Also in 1Q21, Aqua Metals invested $1.5 million in the LINICO Corporation, another cleantech company in the lithium ion battery recycling niche. Rusch is bullish on this speculative company, writing of it, We continue to believe AQMS' closed loop zero-emissions process technology for recycling lead is a critical enabler for portions of the battery supply chain to reach net-zero emissions and has the potential to become the de facto standard process for recycling lead as the world moves toward net-zero commitments in 2040. We are looking at the announcement of a license and equipment supply agreement as the next, and critical, validation of the business model. The 5-star analyst gives AQMS an Outperform (i.e., Buy) rating, along with a $7 price target that implies a one-year upside of 147%. Both recent reviews on AQMS shares are positive, giving the stock its Moderate Buy consensus rating. The trading price is $2.83, and the average price target of $7.50 suggests a strong 165% upside from that level. (See Aqua Metals stock analysis at TipRanks.) To find good ideas for stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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The economy will probably overheat this summer: top strategist - Yahoo Finance
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When is an economy overheating: Yahoo U – Yahoo Finance
Posted: at 5:50 am
For more business and finance explainers, check out our Yahoo U page.
Can an economy pop from too much stimulus? Thats the concern behind overheating, a term thats been the center of economic debate as the $20 trillion U.S. economy re-opens and recovers from the COVID-19 pandemic.
With trillions in stimulus coming from both the federal government and the U.S. central bank, some are concerned that the economy will grow too fast and spur unwanted levels of price inflation.
As Treasury Secretary Janet Yellen once said, expansions dont die of old age.
Overheating is one way for an economic expansion to end. There is no official economic definition for overheating. But one oft-cited indicator of overheating is inflation, or rising prices.
In a healthy economy, unemployment should fall (as people find jobs) and GDP should rise (as economic activity grows). Employed and with income, consumers will demand goods and services.
Producers may adjust prices to capitalize off of the increased demand (and pay for any associated increases in production). In turn, employees of those producers may ask for pay raises that net them more income. Those households can then demand more goods and services, rounding the cycle of wages and prices.
An illustration of a wage-price spiral.
In an overheating economy, this loop repeats several times, leading to rounds of markups in prices and fueling runaway inflation. The so-called wage-price spiral was one of the factors in double-digit price inflation in the 1970s, the most notable example of economic overheating.
Runaway prices can quickly erode the purchasing power of a household. But its not the inflation itself that causes a recession.
To tame the hyperinflation beast, then-Federal Reserve Chairman Paul Volcker dramatically lowered the money supply and ratcheted up short-term borrowing costs, triggering a sharp pullback in economic activity.
The worry is that runaway inflation will again force the Federal Reserve to pump the brakes to dampen inflationary pressures, raising interest rates in a way abruptly ends the recovery.
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Economists have different definitions on what level of inflation constitutes overheating.
One challenge is parsing out true inflationary pressures from those that may be temporary or transitory.
If inflation is rising because of short-term constraints that are likely to fade in a few months, high inflation readings may not be of much concern to policymakers.
But if inflation is due to the wage-price spiral, a deeper, more entrenched dynamic may be at play.
This is why it is difficult to say that a reading of 4% or 5% year-over-year inflation means overheating, since it is all about the persistent nature of the price pressures leading to those readings.
Fed officials have leaned into the transitory side of the debate, saying they expect inflation readings to rise as a result of measurement effects and bottlenecks in the international supply chain.
The Bureau of Economic Analysis publishes the Personal Consumption Expenditures Index, a major source of inflationary data. Since the last crisis, year-over-year inflation in the PCE index have been low compared to growth rates seen in decades before that. Source: Bureau of Economic Analysis
The Fed has also taken note of the fact that inflation has been persistently low since the last crisis, which explains their new framework that will tolerate inflation moderately above its 2% target.
In other words, high monthly inflation readings in the early months of the pandemic recovery are not of immediate concern to policymakers.
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Two New Stimulus Checks May Be on the Way Heres Everything You Need to Know – Yahoo Finance
Posted: at 5:49 am
Evgenia Parajanian / Getty Images/iStockphoto
More and more support has been developing for a fourth and possible fifth stimulus check amongst members of Congress.
See: $1,400 Stimulus May Be on the Way This Time From Your StateFind: New Stimulus Perk Helps Pay for Your WiFi and Laptop
In a new letter to President Joe Biden, seven members of the influential Ways and Means Committee have joined fellow members of Congress who support additional stimulus checks.
It claims that that the American Rescue Plans checks alone will keep 11 millions people out of poverty this year, with unemployment insurance expansion and other provisions in the bill accounting for another five million people.
A fourth and fifth stimulus check could keep an additional 12 million out of poverty, the legislators claim. They also stated that the combined effects of Bidens new bill and new stimulus checks could reduce the number in poverty this year from 44 million to 16 million.
The lawmakers defended their request for more stimulus money saying that not only do the checks help keep families and workers out of poverty, but they act as an economic stimulus by increasing spending and supporting jobs.
However, new reporting by the Boston Herald released yesterday might weaken this particular argument. Through data obtained from Internal Revenue Service records, they reported that a staggering 1.24 million stimulus checks remain unspent from the first coronavirus-era bailout. That is an estimated $1.7 billion unaccounted for based on the max $1,200 per household that was distributed.
See: Child Tax Benefits Will Start Hitting Accounts July 15Find: Student Debt Forgiveness Dropped From Bidens Annual Budget
The unspent checks are not lingering bank accounts though; they are from people who either refused to accept, paid back or not cashed the stimulus checks they received from the IRS as a result of the CARES Act that was signed into law on March 27, 2020, according to the data provided from the IRS.
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The Boston Herald noted that the IRS data shows California as leading the country with 123,265 stimulus checks left unspent, Florida coming in second with 92,018 checks and Texas, New York and Pennsylvania rounding out the top five.
The Committee for a Responsible Federal Budget took a different stance. They stated their data, which is based on Congressional Budget Office estimates, concludes that some of the money has not been spent due to slow or low demand and that data is either publicly unavailable or has a long lag time.
This combined information could hinder a push by legislators to put two more stimulus checks on the table, as the data could suggest that the checks are being utilized as more of a safeguard rather than a necessity to uplift the economy.
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This article originally appeared on GOBankingRates.com: Two New Stimulus Checks May Be on the Way Heres Everything You Need to Know
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Two New Stimulus Checks May Be on the Way Heres Everything You Need to Know - Yahoo Finance
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Chilis jumps into chicken fray, boasts sandwich that will ‘shame’ competition – Yahoo Finance
Posted: at 5:49 am
Chili's (EAT) on Tuesday entered the white hot battlefield of fast food chicken, boasting that it was "ready to put all other chicken sandwiches to shame" with its new menu item.
On Tuesday, the fast casual chain introduced the Chilis Chicken Sandwich, which includes a hand-battered, breaded chicken breast topped with a "secret sauce," nestled between a buttered and toasted brioche bun. The sandwich is topped with a tomato slice, lettuce, and comes with a side of fries.
We didnt want to create just another chicken sandwich. Were all about food perfection and wanted to create the best chicken sandwich and that takes time," Chili's said in a statement.
Like Burger King's recently-released Ch'King, Chili's added that it had tested the new sandwich "over a year to ensure we give our guests the perfect bite," the company added.
Chicken sandwich fanatics, however, will only have a limited window to try the new item, since it will only be available on menus nationwide from Tuesday through June 30th.
Customers can order the latest creation at a Chili's restaurant location, to-go, or through delivery on the app.
As fast food chains ramp up their digital offerings, Chili's is including its reward program in this launch. For My Chilis Rewards members, it costs $10 dollars as part of its 3 for $10 dollar offering that includes a non-alcoholic beverage, an appetizer and an entre.
(Courtesy: Chilis)
Chili's is the lastest company to take a shot at scoring big on the public's seemingly bottomless appetite for poultry, even as competition stiffens in the fast food industry.
Along with Burger King (QSR), Taco Bell (YUM) has released a Naked Chicken Chalupa and a Chicken Sandwich Taco early this year. Separately, McDonald's (MCD) debuted its chicken sandwich with three different versions back in February.
Other fast food chains to introduce a new chicken sandwich creation this year include KFC, Wendy's, Arbys, Jimmy Johns and Shake Shack (SHAK).
Brooke DiPalma is a producer and reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com. Check out her latest:
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Fantasy Baseball’s biggest risers and fallers since the start of the season – Yahoo Sports
Posted: at 5:49 am
Last week I did a second chance NFBC draft, which has an overall prize. It was the first draft, so zero ADP data was available, making things extra wild. It was interesting to see the difference between drafters valuing whats happened so far versus pre-season expectations. I went extremely pitcher-heavy early just as I did back in March. As expected, given how MLB has played so far in 2021 (and how pitching stats stabilize faster), others shared the same strategy. Here are the draft results, Im team No. 5.
Round-by-round results from a recent NFBC draft.
Lets highlight the biggest risers and fallers compared to Yahoo preseason ADP:
Vladimir Guerrero Jr. in Round 1 is something that figures to happen perennially moving forward. Although fantasy managers have to be sad to see the team leave Florida, which had been one of the very best hitters parks this season (and where Vlad posted a 1.418 OPS).
J.D. Martinez went early second and now looks like a bargain in spring with a Yahoo ADP of 78.2 back in March. Hes also recently become OF eligible in most formats.
I was hoping for Tyler Glasnow in Round 2 but settled for Corbin Burnes, who leads MLB starters in CSW.
Weve finally found a league with a bigger Kevin Gausman fan than me. Round 2!
Jesse Winkers power is legit, and a strong batting average helps more than ever, but I cant get on board taking a hitter who doesnt steal bags this high (23rd overall). This is also jumping his spring ADP nearly 200 spots and 17 rounds based on two months.
Joe Musgrove and Zack Wheeler both went in Round 3 and have made the leap into aces, while Shohei Ohtani was another who unsurprisingly saw his draft value skyrocket since spring. Ohtani is currently the No. 3 ranked fantasy hitter in Yahoo leagues, so Round 3 may have been a bargain actually. He leads baseball in Barrel% and max exit velocity both by a mile.
Sixteen of the first 29 picks were starting pitchers. There were just 10 SPs in the top-30 Yahoo ADP before the season.
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Adolis Garcia and Jared Walsh went from undrafted in most fantasy leagues in March to fourth-round picks here. Its hard to argue against Garcias production, but his K/BB ratio is worrisome. THE BAT X projects a .224 batting average rest of season. Walsh has seen Albert Pujols leave and Anaheim continue to play as arguably baseballs best hitters park for lefties.
With so few elite closers locked into roles (punting any category isnt an option if you want to compete in the overall component), the top tier rightfully flew off the board rounds 4/5.
Christian Yelich has disappointed in the power department, but any injury risk was well worth his upside in Round 5. Hes still walking a ton, and the homers could come in bunches if hes over his back issues.
Trevor Rogers, Carlos Rodon and Alex Reyes made huge ADP leaps, all going in Round 5. While theres almost no chance either starter will match their performance moving forward, the lefties both rank top-20 in CSW and are absolutely the real deal. Reyes continues to walk a tightrope, somehow allowing just two earned runs all season despite 25 walks over 28.0 innings. At least his main competition for saves may soon see a downtick in spin rate.
Kris Bryant is somehow blowing away his previous career-highs both in batting average and wRC+ while approaching age 30.
Francisco Lindor, who was a mid-second round pick in spring drafts, had me briefly veer from my early pitching run. He now calls home to a much bigger pitchers park, but Lindors real trouble with his new team has been on the road (.492 OPS). Its been an extremely ugly two months, but Lindor in Round 6 was an easy call for me.
Anthony Rendon had a top-30 ADP but lasted until the eighth round here. His Statcast numbers dont suggest hes been unlucky, but Rendon remains a good bet to bounce back. Cedric Mullins went undrafted in fantasy leagues and was taken shortly thereafter in Round 9, so things have changed.
Freddy Peralta has lived up to his late spring ADP helium and has even surpassed his lofty expectations. Fastball Freddy ranks top-20 in CSW and couldve easily gone five rounds earlier in the same Rogers/Rodon tier instead of the 10th round. Hopefully the Brewers offense can start providing their star pitchers more run support.
Buster Posey opted out of last season, and the rested version (another year removed from hip surgery) has returned as the best hitting catcher (181 wRC+) in baseball by a wide margin in 2021. His .331 batting average is simply incredible given his position and the fact the current league-wide BA (.236) is the lowest in MLB history. Its also crazy Posey is slugging 50+ points higher than his previous career-high at age 34. In a two-catcher format, he was arguably a gigantic steal in Round 10.
Buster Posey is in the midst of a great season after opting out of the 2020 campaign. (AP Photo/Ross D. Franklin)
Luis Castillo was the SP12 in Yahoo drafts this spring, but its easy to see why he slipped all the way to Round 11 with a 7.22 ERA and a 1.78 WHIP so far in 2021. His fastball has weirdly been getting pounded this season, but hes almost certainly due for better luck (although the Reds poor defense and extreme hitters park arent going away). Castillo was likely a good gamble on regression here.
We all played a game of chicken with Blake Snell, who was a common early third-round pick during Main Events in March yet lasted all the way to Round 13 here. And that was before he was annihilated in Houston on Sunday. Moving from the AL East to the National League and Petco Park, Snell somehow sports a 5.55 ERA and a 1.60 WHIP. Hes been a disaster and would go even later in drafts today but has too much upside to give up on. Snell has had a really tough schedule but ranks top-25 in CSW and gets an upcoming home start (2.10 ERA and a 1.17 WHIP in San Diego this season).
To say Alek Manoah passed the eye test during his first start would be an understatement. After throwing four straight balls to open his MLB career, the rookie finished with six scoreless innings during a win in Yankee Stadium. Manoah was Torontos 2019 first-round pick and was absolutely dominant during limited work in Triple-A this year, posting a 0.50 ERA with a 0.56 WHIP and a 36.4 K-BB% that would lead MLB right now. Manoah went for $300+ in NFBC leagues this weekend and is a must-add in all fantasy leagues. I made a mistake not taking him in Round 18 here.
Dylan Bundy has been a massive disappointment, not only posting an ugly 6.50 ERA but also failing to record a win this season. But thats come with a 3.19 expected ERA, as Bundy has been incredibly unlucky. He ranks top-15 in CSW, so I was happy to grab him in Round 19, although its hard to tell if I couldve waited longer given his ugly cosmetic stats.
Kenta Maeda in Round 27 felt like a steal, as I wouldnt mind stashing him on my bench for a bit while he fully healed his groin injury. Only problem is weve since learned hes also been dealing with a hidden arm injury all season, so at least I have an easy first drop decision.
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Tito Ortiz resigns from Huntington Beach City Council after controversial time in office – Yahoo Sports
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Tito Ortizs time in public office in Southern California has come to an end.
Ortiz officially resigned from his post on the Huntington Beach City Council and as the mayor pro tem on Tuesday night, according to the OC Registers Susan Golding.
The UFC Hall of Famer cited leaks at City Hall and character assassination by the media as the reasons for his resignation, though its not quite clear what he is referring to.
Ortizs short stint in public office was full of controversy, almost from the very beginning.
Ortiz tried to attend a planning meeting at a Huntington Beach library days after he was elected in November 2020, but wasnt let in because he refused to wear a mask. He then called into the meeting from his car, as his anti-mask stance was part of his campaign.
His anti-mask tirade continued for months both in meetings and around town, and even caused a weird feud with a burger joint.
Ortiz was voted as the mayor pro tem the day he was sworn into office, though other council members tried to vote him out with a vote of no confidence. That fizzled out.
Ortiz also filed for unemployment on Feb. 20, though he was still in office and being paid for that part-time position. Ortiz owns two businesses in town and a $4 million home, per the report. Huntington Beach Mayor Kim Carr believes that Ortiz may have committed fraud with this claim.
Ortiz held a 21-12-1 MMA record in his career, and last fought for the UFC in 2012 the same year the now 46-year-old was inducted into the UFC Hall of Fame.
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Two years before the Tulsa massacre, the ‘Red Summer’ saw white mobs murder hundreds of Black Americans – Yahoo News
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One hundred years ago, on May 31, 1921, an angry white mob beat and murdered at least 300 Black residents in a Tulsa, Okla., neighborhood known as Black Wall Street. The incident became known as the Tulsa Race Massacre, one of the worst acts of racial violence in U.S. history.
But two years prior to the carnage in Tulsa, another violent wave of hate, which came to be known as the Red Summer of 1919, took hold in the country.
Just a year after the end of World War I, the U.S. was coming out of a third wave of the Spanish flu epidemic. Many white Americans had returned home from Europe to find more than 500,000 Black Americans had migrated from the South to northern cities and had taken many factory, warehouse and low-level government jobs.
Racial tensions flared as whites began to blame Black migrants for spreading the flu and began to seize on rumors, amplified by local newspapers, that Black men were assaulting white women.
During the summer of 1919, more than two dozen race riots broke out in at least 26 cities across the country, including Washington, D.C., Omaha, Neb., and Knoxville, Tenn., that NAACP leader James Weldon Johnson attributed to an "ever-present white fear of a loss of social status and dominance.
Conflicts between groups of white and Black residents in the summer of 1919 were a frequent occurence in several U.S. cities. (Bettmann Archive/Getty Images)
The worst of the violence took place in Chicago, where 8 days of rioting was sparked on July 27, 1919, after a Black teen, Eugene Williams, floated his raft into a whites-only section of Lake Michigan. A white man threw rocks at the teen and he drowned, according to the Chicago Tribune, touching off several days of unrest after police refused to arrest the man eyewitnesses said caused the teen to drown. By the time the rioting ended on Aug. 3, two dozen Black people and 15 white people had been killed. Another 500 people were injured and more than a thousand Black residents were also left homeless after rioters burned down their homes.
The deadliest riot of that summer took place on Sept. 30 and Oct. 1 in and around Elaine, Ark. After a white police officer was killed in a shootout outside a gathering of Black sharecroppers, then-Gov. Charles Brough ordered 500 Army soldiers to retaliate. Nearly 200 people died as a result.
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From April to November of 1919, about 30 riots broke out along the eastern part of the U.S. alone. Additional accounts of lynchings, church burnings and beatings were also reported as the Ku Klux Klan also saw a resurgence in membership.
Johnson, who coined the term Red Summer to describe the bloodshed and violence during that time, documented what he saw happening in D.C. at the time.
I knew it to be true, but it was almost an impossibility for me to realize as a truth that men and women of my race were being mobbed, chased, dragged from street cars, beaten and killed within the shadow of the dome of the Capitol, at the very front door of the White House, he wrote in the NAACPs Crisis magazine.
National Guardsmen are called out to quell race riots in Chicago, July 1919. (Jun Fujita/Getty Images)
The Red Summer also saw Black populations fight back against white mobs. Instead of pushing Black Americans into submission, the chaos of 1919 spurred them to bond together over a shared sense of identity and purpose, laying the groundwork for the civil rights movement three decades later.
As in Tulsa two years later, Black Americans rebuilt their communities and continued to thrive in spite of steep obstacles and vitriol. But systematic efforts of redlining, economic discrimination and the rise of the KKK all served to suppress Black progress.
For Dr. Gwinyai Muzorewa, chair of the political science, philosophy and religion department at Lincoln University in Pennsylvania, the disregard for Black life was as prevalent a hundred years ago as it is today.
The continuous killings of Black people by white police tells us that the problem of race will be with us for a long time, until America turns brown, Muzorewa told Yahoo News. Racism is taught, not genetic. So parents teach their children to hate, despise and kill. On a positive note, because racism is taught, it can also be untaught.
As with Tulsa, news coverage of the Red Summer of 1919 was highly slanted, if the violence directed against African Americans by whites was mentioned at all.
An edition of the Black Dispatch newspaper covers what would become known as the Tulsa Race Massacre, June 1, 1921. (Greenwood Cultural Center/Getty Images)
In 1996, on the 75th anniversary of the massacre, rioters burned down the church in which a memorial service was held earlier that day. Now the world knows about Tulsa, and according to Muzorewa, they ought to know about the Red Summer too.
The Red Summer is not a forgotten issue, Muzorewa said. People in general tend to bury certain terrible experiences hoping never to see it again.
(Cover thumbnail photo: Photo Illustration: Yahoo News; Photos: Universal History Archive/Universal Images Group via Getty Images, Chicago Sun-Times/Chicago Daily News collection/Chicago History Museum/Getty Images)
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