The fate of stimulus checks and $600 weekly unemployment extension could depend on these vulnerable Senate Republicans

A small but singularly influential group is a driving force for an agreement on a stalled coronavirus relief bill: endangered Senate GOP incumbents who need to win this fall if Republicans are going to retain control of the majority.

Confronted with a poisonous political environment, vulnerable Senate Republicans are rushing to endorse generous jobless benefits, child care grants and more than $100 billion to help schools reopen. Several of them are refusing to allow the Senate to adjourn until Washington delivers a deal to their desperate constituents.

Sen. Martha McSally, who has fallen behind in polls in Arizona, is breaking with conservatives to endorse a temporary extension of a $600 per week supplemental benefit. Republicans up for reelection such as John Cornyn of Texas and Lindsey Graham of South Carolina are demanding results before returning home to campaign. And Sen. Susan Collins is in overdrive, backing help for cash-starved … Read the rest

Read More

SEC reportedly investigating Kodak’s government loan and stock spike following Trump deal

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

The Securities and Exchange Commission is reportedly investigating the circumstances around Kodak’s announcement last week of a $765 million government loan to manufacture pharmaceutical ingredients—a deal that sent the legacy camera firm’s soaring.

While the agency’s probe is at an early stage, the Wall Street Journal reports that the SEC is looking into Kodak’s disclosure of the loan, which began to leak on Monday, July 27—one day before the official announcement that prompted a massive spike in the company’s theretofore struggling stock price.

But Kodak’s trading volumes and share price were already on the rise before the announcement was made, a dynamic seemingly tied to leaks disseminated by local news outlets in the company’s hometown of Rochester, N.Y. The SEC is said to be scrutinizing Kodak’s handling … Read the rest

Read More

‘The Rock’ buys part of bankrupt XFL pro football league

Dwayne “The Rock” Johnson will buy the assets of the bankrupt professional football league XFL as part of a group bid with his business partner Dany Garcia and Gerry Cardinale’s RedBird Capital Partners.

The group is paying $15 million for substantially all of the assets of Alpha Entertainment LLC, the parent company of the XFL, according to a statement Monday.

Johnson and Garcia were looking at buying the XFL at the same time as Cardinale, with the two groups then deciding to join together to complete the purchase, Garcia said in an interview Monday morning. Garcia and Johnson were previously married.

“We were simultaneously all examining the property deeply,” said Garcia, who was a big fan of the XFL in its 2020 season and called Johnson when she saw the opportunity to buy it. “We were two groups who could see the magic of this league.”

Cardinale is a former … Read the rest

Read More

Meet Candace Valenzuela, who could become the first Afro-Latina in Congress

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

Last month, Candace Valenzuela won her Democratic primary runoff for Texas’s 24th district. And the potential impact of that victory goes beyond her Dallas-Forth Worth area constituents: If she wins the general election in November, Valenzuela will become the first Afro-Latina in Congress.

It’s a milestone that could be achieved twice over this year. Ritchie Torres, the Democratic candidate from New York’s 15th district, who’s all but certain to head to Congress in the fall, would be the first Afro-Latino to serve in the institution upon his swearing in.

Torres brought attention the significance of his likely election with an op-ed that exposed some outdated rules within Congress. Torres wrote that, based on current restrictions, he would not be allowed to join both the Congressional Black Caucus … Read the rest

Read More