Michael Jordan. LeBron James. Leonardo DiCaprio. What do these three have in common? Not much, except a love for basketball — oh, and they’re now all investors in shoes.Leonardo DiCaprio’s net worth is about to go up, thanks to his investment in the footwear company Allbirds. The actor has teamed up with the eco-conscious company to introduce a sustainable, eco-friendly sole on the company’s new flip-flop shoes."Creating sustainable consumer products requires a deep commitment from brands that understand the role they have in helping solve our environmental crisis," DiCaprio told People in a statement. "Allbirds is on the forefront of developing new materials that will serve as a model for the footwear industry. This kind of innovation is crucial for creating a more sustainable future. I am proud to join the company as an investor."The soles on the flip-flops, called SweetFoam, are made of renewable sugarcane — a first in the industry known for using … [Read more...] about Leonardo DiCaprio’s net worth set to rise with Allbird investment
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NEW YORK (AP) -- Facebook faced a day of reckoning Thursday as its shares plunged in the biggest one-day drop in stock-market history. The 19 percent drop vaporized $119 billion of the company's stock-market value; CEO Mark Zuckerberg saw his net worth fall by roughly $16 billion as a result. It was Facebook's worst trading day since going public in 2012; the collapse eclipsed Intel's decline of $91 billion in September 2000, without adjusting for inflation. The plunge followed Facebook's warning late Wednesday that its revenue growth will slow down significantly for at least the remainder of the year and that expenses will continue to skyrocket. In a sign of just how bullish investor expectations were, though, the collapse merely returned Facebook shares to a level last seen in early May. At that point, the stock was still recovering from an earlier battering over its big privacy scandal, in which a political consulting firm with ties to President Donald Trump improperly accessed the … [Read more...] about After Facebook stock plunges by $119 billion, is this a blip or beginning of painful decline?
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Janelle Nanos Globe Staff April 30, 2018 Kai Grant had every reason to be riding high. Her venture, Black Market, a Roxbury pop-up for black business owners, was a smashing success in its inaugural year, hosting 150 entrepreneurs, and the recent opening of the second season drew hordes of customers.But the market’s return was marred by controversy after one of the vendors from its first year decided to open a new market in the Seaport, which Boston magazine mistakenly heralded in a headline as the city’s first black-owned pop-up. This new market, which will launch inside District Hall on May 19 and is scheduled to run monthly throughout the year, has prompted conversations about the role that such marketplaces can and should play in Boston’s economy. Grant said she has plans to expand her … [Read more...] about Black Market in Roxbury feels growing pains
SHOT -- HOUSE OVERSIGHT CHAIRMAN Darrell Issa, to Candy Crowley on CNN’s “State of the Union,” re interviews the committee has done behind closed doors with front-line IRS agents in Cincinnati: “The whole transcript will be put out. … [T]he reason Lois Lerner tried to take the fifth is not because there is a rogue in Cincinnati. It's because this is a problem that was coordinated in all likelihood right out of Washington headquarters and we're getting to proving it. We have 18 more transcribed interviews to do.” --CHASER -- DAVID PLOUFFE tells George Stephanopoulos on ABC’s “This Week” that no special prosecutor is necessary on IRS: “[Y]ou have any number of congressional committee spending an inordinate amount of time on this … This is going to be looked in thoroughly, as it should be.” –Byron Tau Story Continued Below VALERIE JARRETT commencement address at Wellesley on Friday: “[Y]ou don't … [Read more...] about ISSA: IRS orders ‘in all likelihood’ came from D.C. — PAINFUL DEBATE AHEAD on military’s exploding personnel costs — DAVE KOCHEL: Scott Walker is man to beat in Iowa — ALL ABOUT Snapchat — CHRIS
(MoneyWatch) COMMENTARY As a Missouri resident I would never buy a state of California bond, even if it were a AAA-rated general obligation (GO). The reason is that the high state tax rate in California increases the demand for double tax-free income for the state's residents, suppressing yields. However, for California residents, highly-rated state GOs once made sense, at least in an era when they were highly rated. The problem today is that California's GOs are no longer highly rated. The current Moody's (MCO) rating is A1. While still considered to be above-average in credit worthiness, an A1 rating is only the fifth-highest ranking. California's problems are well known. The failure of the state's elected officials to seriously address its fiscal problems has even led to comparisons with Greece. However, Greece's CCC rating is in the "junk" category -- 11 notches below California's. And California's debt-to-GDP ratio is substantially lower. Clearly the California and Greek … [Read more...] about Why you shouldn’t buy California GO bonds