Spokane county bankruptcy filings

14 May 2024 One of the World's Oldest Hedge Funds filed bankruptcy

2024.05.14 15:20 covid03 14 May 2024 One of the World's Oldest Hedge Funds filed bankruptcy

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2024.05.14 15:19 covid03 14 May 2024 One of the World's Oldest Hedge Funds filed bankruptcy

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2024.05.14 15:17 covid03 One of the World's Oldest Hedge Funds filed bankruptcy

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2024.05.14 14:40 Maleficent_Cause7883 Crazy Conflict of Interest Question

I’m a criminal defendant in a felony fraud case. I’m sure I’ll get eye rolls for this- but I am actually innocent, but that’s actually beside the point.
I just found out that 6 months ago, the DA’s office that is prosecuting me in my case hired my lawyer to be a part time prosecutor, and he has been getting paid by that office for six months.
When I hired my lawyer 18 months ago, I paid him a large flat fee up front to cover everything through trial.
I confronted my lawyer about this last week and he admitted that he’s been working as a part time prosecutor, but says there’s no conflict because he’s only representing the people in other cases, not mine. He told me to be ready for trial in 6 weeks.
I have obvious concerns that this lawyer is now getting paid more by the prosecutors than me and his loyalties are clearly in conflict.
My question is: isn’t this a clear conflict of interest. I live in a rural county where there are only 3 judges and 3 total attorneys on in the DA’s office.
Is this grounds for dismissal? Isn’t this also prosecutorial misconduct since the DA knew my lawyer was conflicted and nobody asked me to waive the conflict or even notified me at all? Isn’t it outrageous that I need a new lawyer because the party opposing me basically hired him away from me?
And might it also be misconduct by the judge if he ignores this conflict after I raise it?
I do not have money for another lawyer- please help tell me what to do! How should I raise it in court? I am thinking of filing a notice of conflict with a supporting sworn declaration of these basic tacts.
Please help!?!

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2024.05.14 14:25 DutyTop8086 Three Men Charged in Chicago Liquor Store Robbery Spree

https://preview.redd.it/goy3k7m6xd0d1.png?width=680&format=png&auto=webp&s=f1221b5db346ba2e4da6420407a73381bdb04b2f
The U.S. Attorney’s Office in Chicago has charged three men in connection with a string of liquor store robberies that took place in Lakeview, Lincoln Park, and Wicker Park on January 15. Federal officials also noted that a fourth member of the crew has since died.
Ardaries Harris, 26, Jordan Fox, 24, and Roosevelt Veal, 26, are facing charges of Hobbs Act robbery and using a firearm to commit a violent crime. The identity and cause of death of the fourth man have been redacted from public court files.
Details of the Crimes: According to a federal complaint, investigators identified the men through various means, including social media posts, phone location data, recorded jailhouse calls, and surveillance footage.

First Robbery (8:40 p.m.): The spree began at Mr. P Beverage Depot, 2006 West Division. Four men entered the store with guns, emptied the cash drawers, and held employees at gunpoint. One employee was punched and had his backpack stolen, which police later recovered in the crew’s abandoned getaway car.
Identification of Suspects: Harris was identified via surveillance footage by his boots and a distinctive scar on his hand from an old gunshot wound. A phone call from a Cook County jail inmate calling Harris “Freaky,” a nickname from his rap persona “Hadiway Freaky,” also linked him to the crime.
Second Robbery (9:00 p.m.): At Before You Go Liquors, 1917 West Fullerton, four masked robbers pointed guns at a clerk, demanded cash, and stole his debit card, using it to withdraw $400 from the store’s ATM.
Third Robbery (9:20 p.m.): The crew then targeted Clybourn Market, 2807 North Clybourn, following a similar pattern.

Social Media Evidence:

The day after the robberies, all four men posed with guns in a social media image. Another Instagram photo showed Harris, Fox, and the deceased man displaying large amounts of cash.

Officials used voice recognition to match Veal’s voice from a video posted on his Instagram account to audio from the store’s surveillance footage. Veal was identified as the robber demanding, “Where the drop money at?” and other threatening phrases during the heists.
The federal investigation, led by an ATF agent, highlights the intricate methods used to track and apprehend the suspects, combining traditional investigative techniques with modern technology and social media analysis.
To my Yemeni community that still owns or works in this ill-gotten business, please be careful.

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2024.05.14 14:23 B15HA Genuine question. What happens if all hedge funds go file bankruptcy?

Will they still be forced to buy back the shares or will this thing be done?
Been holding xx shares since 2021 and I not selling and I also am not familiar with the rules of smth like this.
If anyone can link to a dd or answer I would greatly appreciate it

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2024.05.14 14:01 Zappingsbrew A post talking about 400 words

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2024.05.14 13:39 thaw4188 instead of properly expiring and shutting down the filth, stench and bulldozers of a temporary dump somehow allowed next to housing and Gainesville's premiere park, DeSantis extends it to double size

Mayor Ward the residents have lost all control of their city as we continue to be a punching bag
https://www.gainesville.com/story/news/local/2024/05/13/southeast-gainesville-florida-residents-fight-to-close-landfill/73670091007/
(mirror if that link goes paywall https://www.yahoo.com/news/dump-dump-southeast-gainesville-residents-193537586.html )
We cannot take four more years of one chunk at a time as the city is destroyed under some kind of Florida's own personal christofascist Project 2025
Either go to the feds and federal courts and get civil rights enforced or just declare bankruptcy for the city and make it a national demonstration of what happens when you let people like DeSantis regulate what happens in your bedroom, bathrooms, even at your dinner table.
Our sheriff is appointed by DeSantis, not elected and in his pocket and part of the "Florida Constitution Revision Commission"
Our public university president is appointed by DeSantis from an exclusive private vetting and in his pocket
The UF Board of Trustees is heavily in DeSantis pocket and donated millions to his failed presidential campaign
A million dollars is being drained from UF to pay Florida's Surgeon General for doing nothing.
Large parts of the GRU board are now in DeSantis pocket
A growing part of the K12 Alachua County School Board are in his pocket
RTS is teetering on the edge of being destroyed, basically on a countdown until Sasse pulls the rug out.
Now he overrides local progress and encourages literally toxic business to persist and even expand right next to city residents homes.
Just wait until he gets extended powers when a state emergency is declared for any one of the half dozen hurricanes Florida will get this year, he will suspend all regulations in the city.
The list keeps growing and growing and there are four more years of this, what exactly do you think is going to happen after November when they double down?

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2024.05.14 13:21 DutyTop8086 Seize the Deal: Restaurant Equipment from Red Lobster Up for Grabs!

Hey everyone,
Just wanted to share some news that might be of interest, especially if in the restaurant industry. It's been reported that Red Lobster is closing down at least 48 of its locations. This is part of a larger trend where more than 50 locations are being shuttered nationwide.
A restaurant liquidation company is currently auctioning off kitchen equipment from these impacted restaurants. The auction started this week and it's a sign of significant changes happening for the chain. For those in the industry, it might be an opportunity to pick up some equipment.
This follows reports that Red Lobster has been considering a bankruptcy filing and has been struggling financially, with losses reported in recent quarters.

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2024.05.14 13:01 FelicitySmoak_ On This Day in Michael Jackson HIStory - May 14th

1975 - Michael had a private meeting with Berry Gordy to discuss the Jackson Five's future & after being denied creative freedom once again, the brothers started shopping for a new record deal. The Jackson Five had begun to ask to produce, write and record their own material in the previous year but all their requests for creative control had been denied.
1985 - Michael met Ronald & Nancy Reagan at White House for the launch of a campaign against driving under the influence of alcohol. In the spring of 1984, Michael's team received a call from the Secretary of Transportation, Elizabeth Dole, asking for Michael to give "BEAT IT" as background music for a television commercial and a 35 second radio spot on the dangers of driving a car under the influence of alcohol.
Even though the initiative was initially rejected by Michael, once he meditated a bit, he explained to his representative, John Branca

"You know what? If I can get some kind of prize from the White House then I will give them the song. How about?".
Intrigued, Branca asked: "Like what?"
Jackson listed: "I want to know the White House. I want to be on a stage with the president and receive an award from him. I want an event with children. And I also want to meet Nancy. All that. Why not? Can you get it? "

Branca was given the task of obtaining a positive response in the shortest time possible, which was not entirely difficult due to the fascination of the Reagans with show business. And so, the meeting was scheduled for the morning of 5/14/84
For such an important occasion, President Reagan dressed in a navy blue suit, a gray and navy blue striped tie & a white shirt. Nancy,on the other hand, chose a white suit, Adolfo brand, adorned with buttons and gold stripes. Nothing too spectacular to overshadow Michael's attire: an electric blue sequined jacket, adorned with sequined laces, a band of golden sequins, and epaulettes with golden sequins. He also wore his famous white sequined glove.
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Two thousand people in total, including officials, admirers and security met in the central garden to see Michael.
Once everyone was up on stage, the Republican president pointed out that:

"Michael Jackson is proof of what a person can accomplish through a lifestyle free of alcohol or drug abuse. People young and old can respect that. And if Americans follow his example, then we can face up to the problem of drinking and driving, and we can, in Michael's words, beat it."

- a brief speech of just 5 and a half minutes. Then he handed a plaque to Michael, a gesture that he thanked before the microphone with an even more brief intervention, saying a mere 13 words:

"I'm very, very honored. Thank you very much, Mr. President and Mrs. Reagan."

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During his tour of the halls of the presidential residence, he showed his fascination with a portrait of Andrew Jackson, dressed in a military suit very similar to the blue sequins he wore that day.
Until Michael's visit, only Elvis Presley, received this distinction, in 1970, when President Richard Nixon opened the doors of the Oval Office. Michael would return to the White House twice more during the terms of George W. Bush, Sr & Bill Clinton
https://reddit.com/link/1crpctu/video/o2x9r4cyj80d1/player
1985 - Michael Jackson received a royalty check from Epic Records for $53 Million for sales from his Thriller album.
1988- Michael is on the cover of Fresh! magazine
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1996- Michael visits Chateau de Pierrefonds in Northern France, rumors were he wanted to purchase a French chateau.
The Château de Pierrefonds, classified as a historic monument and managed by the Center des monuments nationaux, was not for sale. Michael was aware of this so his visit was simply a pleasure visit.
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The guides at the Château de Pierrefonds keep the memory of this arrival, completely unexpected, on 5/14/96. They speak with pleasure of this moment when the King of Pop arrived, surrounded by his bodyguards, to discover this castle worthy of fairy tales.
According to one of the guides, he arrived in a limousine which he parked in front of the village pharmacy. Michael, in fact, came in a station wagon type car which parked as close as possible to the entrance to the castle.
Wearing a red jacket and his mask, Michael arrived late in the morning when there were not too many people. However, it was school field trip time and a group of children were present. One of the guides explains that he then hid in a corner, near the stairs where the visit to the castle begins, so as not to be seen and disturbed
Michael paused for a long time in front of the model of the castle, located at the end of the guard room. Made in 1878 for the Universal Exhibition, this stone model built at 1/50 scale remains impressive (height: 145cm, width: 250 cm, length: 350 cm). Michael's bodyguards reportedly took a lot of photos and it is said that Michael asked for the plans of the model.
What is certain is that Michael had a model of the castle made for his Neverland ranch. It measured 269cm x 335cm x365 cm. A little larger than the model present at the castle. Michael's model sat in the middle of his living room, with, for a time, a framed photo of the castle on the wall.
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The model was one of the objects that Julien's Auctions wanted to sell at auction in 2009, before Michael prevented this sale.
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Although shy and discreet, Michael did not hesitate to pose for photos with the employees, who were quickly aware of his presence
Michael also leaves a strong memory of his visit with employees through his visit to the site's souvenir shop. He spent a large sum on history books, an amount which, according to the guide, “is not seen every day here” .
2004 - The Defense team, headed up by Thomas Mesereau, have decided to agree with the DA's Office of Santa Barbara to uphold the gag order in the case against Michael. Mesereau wrote that he and his client support the gag order and withdrew any objections to it made by Jackson's prior counsel.
In court documents filed , Attorney Theodore Boutrous, who represents the news organizations, criticized Santa Barbara County DA Thomas Sneddon's condemnation of the intense media coverage.

"Eliminating the gag order will ensure that more accurate information will be disseminated, and will reduce the amount of rumors, speculation and gossip about which the District Attorney complains," Boutrous wrote.

The news organizations have been annoyed by Sneddon's clampdown on information about the case. They have asked the California Supreme Court to overturn the gag order on the grounds that it violates the freedom of speech guaranteed by the U.S. Constitution.
Thomas Sneddon and Gerald Franklin, filed a motion earlier in the week, to the California Supreme Court to uphold the gag order in this case. He argued that the media was hoping to profit by pandering to a "gossip-hungry readership." He proceeded to write in his letter, "Despite the perhaps inevitable leaks, the public knows little more about the facts of this case than that Michael Jackson has been indicted on serious charges and that a jury will be asked to consider the evidence that may be presented to determine his guilt or innocence based on that evidence. And that's the way it should be."
Mr. Sneddon's letter was a response to the media's attorneys that wanted the gag order lifted which was imposed by the sitting judge in the case, Superior Court Judge Rodney Melville. The gag order prohibits participants involved in the case to discuss any particulars about the case to the media.
Sneddon argued in his letter that the news organizations have no standing to challenge the gag order because it applies only to case participants, not the media. He also said that such an order is required in a case that has drawn sensational worldwide attention.

"What is reported as fact becomes the nucleus of intense speculation, conjecture and discussion among commentators, particularly in the tabloid media and the audience they appeal to," Sneddon wrote. "Gossip -- and the 'news' tidbits that are gossip's grist -- translate into income."

2009 - In the last Family gathering Michael, Prince, Paris & Blanket attend Katherine & Joe's 60th wedding anniversary at the Indian Restaurant, Chakra in Beverly Hills with the whole family including all the grandchildren. Randy is the only one not in attendance. This is when most of Jackson siblings saw Michael for the first time since the 2005 Trial.This is also the last time Michael will see most of his family, including Janet & LaToya
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2009 - AEG sent a 2nd email to Conrad Murray
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2012 - Katherine Jackson & Brett Livingstone Strong give an interview on Piers Morgan Tonight. They show some of Michael's artwork
Brett Livingstone Strong is the artist responsible for "The Book", the only portrait that Michael ever posed for
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2013- Day 11 of the Jackson vs Aeg Live trial

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2024.05.14 12:40 Specialist_Bake6514 Vapiano P3: Italian Food Made in Germany

The kitchen is on fire. Welcome to the final part of the Vapiano story where the tables are turning. In the first two episodes we followed Mark Korzilius' journey from setbacks to founding Vapiano, a groundbreaking restaurant concept, highlighting its fresh ingredients, dynamic atmosphere, and data-driven operations that drove rapid success. While achieving initial profitability and garnering attention from industry giants like McDonald's, Vapiano's global expansion has led to stellar revenue growth. However, it has also resulted in the emergence of numerous side projects (or distractions), operational challenges, increased costs, significant investments, and a notable accumulation of debt. This underscores the prioritization of top-line growth over profitable growth. We will continue on this thread and see how the story ends, but I would encourage you to read part one and two for better context. Vapiano P1: Italian Food Made in Germany (substack.com). Let's dig in.
Before Going Public
We are now in 2015 and the year is a disaster for Vapiano's PR department. Employee time stamps are being manipulated, endless overtime for employees and high turnover in managerial roles are reported; mice in the kitchen and even rotten food allegedly found.
The company is confronted with allegations of exceeding working hours among trainees in an article published by Welt am Sonntag, while the same outlet accuses Vapiano of manipulating punch times. The auditing firm PwC is commissioned to investigate the allegations and finds that there is no systematic approach but rather misconduct by individual employees, a mistake that’s being corrected. Internal however, investigations into stamp times are carried out regularly now and beyond its obvious reputational impact, this sucks up valuable management time and attention.
In the summer of 2015 CEO, co-founder and investor Gregor Gerlach, who has been running the group since 2011 is stepping down and Jochen Halfmann is taking over. A new Vapiano People Program with an App is being developed with the aim to better interact with customers that will incorporate innovate features such as mobile pay. The German website sees a launch of new magazine to further promote the brand and there is now a full inhouse blogger and Instagram team being installed. In October the company buys seven restaurants from original co-founder, former co-investor and ex-president previously responsible for internation expansion Kent Hahne (2x Bonn, 3x Cologne, 1x Koblenz and one in Cologne that’s under construction). This package of Vapiano restaurants is very successful and generates net sales of more than 20 million euros in 2014. Hahne opened his first Vapiano restaurant in Cologne in August 2006 and in 2015 with his company apeiron AG, Hahne operates six L'Osteria franchise restaurants, a direct Vapiano competitor, and two self-owned restaurants GinYuu.
Then in November of 2015, the next public relations bomb goes off with allegations regarding the company's quality standards. The company immediately investigates the issue through internal and external specialists but finds no evidence of any quality issues. Nevertheless, knowing that the group is now being closely watched, the company’s already in place hygiene standards are being reinforced. Additional audits and inspections are performed nationally. Further, all Vapianos worldwide are being audited twice by the partners SGS Institut Fresenius and SAI Global. Auditing software is purchased to simplify the implementation of the audits and the resulting measures. Apart from the external examinations, there is a food sampling plan in place being performed continuously. Again, all of this sucks up costs, management time and attention. With all these tumultuous developments the company’s growth engine is undeterred. Revenue grows by a whopping 50 million euros to 202 million euros, an increase of 33%. Impressive. While average spent per customer increases in all countries, the number of customers per day in Germany decreases by 3.3% partially due to the negative press towards the end of the year. Five own, four JV and 19 new franchise restaurants are added that year to the group, the total number of own managed restaurants grows to 51, there are 31 JVs and 84 franchises which bringing the total to 166 Vapiano restaurants. Global restaurant sales are now above 400 million euros.
But while revenue grows by an astronomical 50 million euros, operating profits, alarmingly, shrink again. Gross margins are staying perfectly healthy above 75% but operating costs keep growing disproportionately fast. The Company’s outstanding debt jumps by almost 30 million, close to 85 million euros by the end of the year. With operating profits at 9.5 million euros, alarm bells should be going off right now.
In Q4 of 2015, new CEO Jochen Halfmann introduces Strategy 2020. The new strategy includes five essential points. One, profitable growth in the newly defined core markets of Germany and Austria as well as in the UK, Netherlands, France and USA. Two, operational excellence through strict “best practice” management. Three, further development and digitalization of the concept considering guest feedback. Four, greater focus on long-term employee retention and five, building a modern and sustainable IT landscape. Sound’s good on paper but let’s see how things pan out.
Vapiano's investments (capital expenditures) that year are primarily directed towards new restaurant openings, renovations of existing establishments, and share acquisitions in other Vapiano restaurants from franchisees or JV partners. A significant portion of funds is allocated to the digitalization of the guest experience, including the development of a new app scheduled for market release in 2016 and the implementation of a time recording system across all group restaurants. The world's first standalone Vapiano restaurant with a delivery service that year is built in Fürth, Germany. The company keeps expanding its presence in both inner-city locations and international markets, such as Shanghai, China.
To finance all of this, the group has its own operating cash flow which comes in at 18 million while capital expenditures are 26 million euros plus 14 million for acquisitions. The funding gab is filled with 26 million euros of new debt and a seven-million-euro equity raise. At that end of the year and after the equity raise Gregor Gerlach (through his AP Leipzig GmbH & Co. KG entity) holds 30.1%, Hans-Joachim and Gisa Sander through their Exchange Bio GmbH hold 25.5% and the Tchibo heirs, Herz through their Mayfair Beteiligungsfonds II GmbH & Co. KG hold 44,4%.
But for the first time the restaurant’s concept that was so successful to date is being questioned. Some customers are starting to mislike the operational flow of the concept itself. If you want pasta, you must queue for pasta. If you want pizza you stand in a different queue. A small side salad, yet another queue. "You spend more time carrying trays than an actress in Berlin-Mitte. The audience in the pasta limbo can only consist of people who have worked for an insurance company for a long time and, like Stockholm syndrome, they can no longer get away from the industrial canteen feeling," writes TV host Beisenherz provocatively. While overly harsh in his assessment he's not entirely wrong judging by customers venting their frustrations in forums and social media channels. It isn’t uncommon for those who ordered pizza to have already finished eating while there is little movement in the pasta queue. Long term that doesn't go down well, QSRs competitors like L’Osteria are handling this process differently, with much success.
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Tipping Point

Where are now in the year 2016 and things start to deteriorate visibility. Perhaps not for the leman’s eye but any business minded observer can see that there are problems under the hood. Yes, revenue grows yet another whopping 50 million to almost 250 million euros but half of that growth, comes from acquisitions of restaurants that the group didn’t already own 100%, which is now being fully consolidated within the group’s accounts. Here is a concrete example. In the past, Vapiano SE, the group’s top holding company held an indirect 50% stake in a French subgroup via the subsidiary VAP Restaurants SA, based in Luxembourg, and included this as an associated company in the Vapiano SE consolidated financial statements using the equity method. Due to the acquisition of additional shares in September of 2016, Vapiano SE's indirect share in the French subgroup increased to 75%. This means that Vapiano SE takes control of the French subgroup, which is therefore included in the group’s financial statements as part of the full consolidation. The revenue from the acquired subsidiary now recorded in the consolidated income statement amounts to 12.8 million euros. While that’s great for the top line, the loss of the fully consolidated entity equates to 0.2 million euros. Yes, you are buying revenue, but there are losses attached to them, not profits. A similar case is the Swedish entity that runs eight restaurants with revenue of 11.5 million euros but has losses of 235 thousand euros. So much for Strategy 2020 and “profitable” growth.
That year the group’s operating profits are absolutely tanking, halving to 3.5 million euros. Operating profits are now a mere 1,4% of revenue. Remember original founder Mark Korzilius who talked about operating margins of 25% to 28% at the restaurant level? Yes, there are overhead costs for the organization that sits above the chain of restaurants, but operating margins that low indicates a course correction is needed. What’s telling is that in the annual report, in the management discussion section, the company starts talking about EBITDA as a proxy measure of profitability, rather than operating profit or net income. This wasn’t the case in the years before. Is this window dressing for an upcoming IPO? EBITDA is short for earnings before interest, tax, depreciation, and amortization. How can you measure profitability of a restaurant chain that absolutely and unequivocally needs capital investment to maintain its restaurant operations, the very source of cash generation, by simply excluding this maintenance charge (depreciation in the income statement)? Vapiano’s own annual report talks about the fact that existing restaurants must be rejuvenated from time to time and that new interior designs have to be implemented every few years. These things wear and tear, they go out of style, kitchen equipment breaks and needs replacement. This business absolutely needs maintenance capital expenditure, why anyone talks of profits before these maintenance costs is beyond me. Fun fact: in the previous annual report EBITDA is mentioned seven times, mostly around restaurant acquisitions and financing, not however as a profit indication for the group. In the new annual report, EBITDA is mentioned 28 times. Maybe it’s just me but belated Charlie Munger liked to call EBITDA: bullsh*t earnings. When in doubt I stick with Charlie. Interestingly, EBITDA for Vapiano keeps growing while operating and net profits keep falling.
Operating cashflow for the group that year is about 21 million euros, but capital expenditure is 30 million and acquisitions for subsidiaries another 20 million. To finance these expenditures another 28 million euros of debt and 16 million of equity is raised. Net debt rises above 130 million euro. The operating cashflow of the group before any capital expenditures is 21 million euros. I am not sure free cash flow would be significantly positive after maintenance capex is paid out; it’s not broken out so we can’t be sure. Granted, I am not on the ground during this time, and I am not in the board room, I am simply reading what’s in front of me, but to me this is starting to look like a distressed situation. Regardless, the following year the company goes public.

IPO

Where are now in the year 2017 and its Vapiano’s first year as public company. The company’s annual report reads the following “Sales revenue, like-for-like growth (LfL) and the earnings figures EBITDA and adjusted EBITDA are used as the most important financial performance indicators for controlling operational business activities.” The very same report however also says: “The majority of the group's investments regularly go towards opening new restaurant locations and modernizing existing restaurants. The latter are differentiated into regular replacement investments that occur during ongoing operations (Maintenance CAPEX) and fundamental investments in the renovation of a restaurant (Remodeling CAPEX). On average, a restaurant remodeling takes place nine years after opening.” It says it right there in their own report; every nine years a remodeling is taking place. Remodeling and updating is not cost free, so why exclude depreciation charges which reflect capital expenditures? I understand that perhaps you would want to strip out one-off opening costs, that’s fine and fair, but don’t go overboard.
The number of restaurants increases by 26 (previous year: 13) to a total of 205. The increase consists of 27 new openings and one closure. Group revenue grows to an astonishing 325 million euros but here comes the shocker, operating profits turn negative to 25 million. Fine, strip out foreign exchange losses of 3 million, IPO costs of 5.8 million and new opening costs of 6.1 million and you still have 10 million euros of operational losses. All the while the debt load of almost 130 million hasn’t materially changed, so those operating losses are before a six-million-euro interest payment. 184 million euros are raised through the IPO of which 85 million go to the company. This money is earmarked for further expansion as the group has ambitions to almost double the footprint to 330 restaurants by the end of 2020. The company is currently not profitable on an operating basis, and still wants to expand aggressively? I don’t get it. The remaining 100 million euros of the IPO money raised is distributed to co-founder Gregor Gerlach and Wella heirs Hans-Joachim and Gisa Sander. The family office of the former Tchibo owners Günter and Daniela Herz with a 44% stake, don’t sell a single share. After the IPO, 32% of all the company’s shares are now in free float.
One year later, in 2018, things get even worse. Revenue grows to 371 million, but operating losses mount to 85 million euros, that’s before interest expenses of 9 million. Even the beloved EBITDA figure turns negative, meaning the operating business before any expansionary or even maintenance capital expenditures is loss making. All regions are experiencing significant deterioration in their earnings profiles. Like for like sales are down 1% across the board. That’s revenue, not profitability. The question naturally arises: is the Group approaching its natural saturation point here or this operational by nature? The operating cash flow is now 9 million while financing cost are close to 7 million. That leaves 2 million for maintenance capital for 74 own restaurants and 76 joint ventures ones. Describing this as financially tight, would be an understatement.
Things are not looking good at this point. Yet the company still grows restaurants by 26 new sites. 64 million euros are spent on acquisitions, new openings, and maintenance costs, financed through a 20 million-euro equity raise and 72 million of new debt. The Company now has net debt outstanding of over 160 million euros. After the equity raise and by the end of the year 2018, Mayfair owns 47.4%, VAP Leipzig, Gregor Gerlach’s entity owns 18.9% and the Sander couple own 15.5% of the company. Yes, the Sanders and Gerlach may have taken 100 million euros off the table, but they still have substantial skin in the game. Plus, Mayfair hasn’t sold a single share and instead injects more money into the company through the equity round. The stock has now fallen from its IPO price of 23 euros per share to under 6 euros by the end of 2018. Something must be done here. And indeed, there is pivot in strategy and a hard push for change. At last, the management team abandons its aggressive growth plan and curtails new openings significantly. Additionally, the team wants to run a thorough analysis of weak locations to then either discontinue or sell sites. In Europe, the operating focus will be put on corporate restaurants and joint ventures in major cities to ensure the ideal size and location to match the respective demographic target group. Outside of Europe, the franchising business is being expanded and at the same time a consolidation of the existing corporate and joint venture markets is being sought. All future investments will be reviewed to achieve higher rates of returns on new openings. Investments are also being made in the renovation of older restaurants. The goal in the future is to also open smaller formats, like Mini-Vapianos (less than 400 square meters) or Freestander at prominent transportation hubs outside city centers (currently in Fürth and Toulouse) to cater to individual location requirements, and to enter new partnerships. I am not sure why management hasn’t stopped all expansion altogether, bringing the ship in order first, getting profitable, clean up, all hands-on deck before considering any further expansions whatsoever. But again, it’s easy to comment from the sidelines; maybe they saw white spaces that would be covered by competing concepts if they weren’t moving fast and aggressively enough. Although pushing internationally means competing with local players such as Jamie's Italian, Prezzo, Pizza Express, Wagamama, Nando's and many more which brings in its own dynamic.
Management also aims to enhance guest satisfaction. This involves refining operational processes, reorganizing the support center, and refocusing on the core offering: providing fresh and high-quality Italian food at affordable prices for a broad audience. The group also aims to reduce waiting times, especially during lunch, while also improving the evening atmosphere. There is even what I would call an evolution, away from Vapiano’s original concept, reorientating the customer journey. The ordering flow is being changed, offering guests synchronized preparations of all dishes while eliminating wait times at the cooking stations. The open show kitchen remains, staying true to original mantra of freshness and transparency but now guests can choose their preferred method of ordering through a mobile app, using a digital order point (kiosk), or by personally placing an order with a waiter. Guests can still freely choose their table and are then informed about the complete preparation of their order through a pager or their smartphone. This is a substantial deviation from the original concept, but a needed one. The group is also exploring and implementing the expansion of take-away and home delivery services but only at suitable locations, not universally across new openings. I am not sure why home delivery is even a priority here; it adds operational complexity. It’s better to clean up shop first and get back to the basics before adding new complexities. To be fair management does try to simplify. There are 49 different permanent dishes on the menu and additional 10 seasonal ones. Customers can choose from eleven different types of pasta. There is simply too much choice, and it makes orders complicated. The company announced to slim the menu down to its most popular and typical Vapiano dishes. There’s no need for an Asian salad at an Italian restaurant. "We have to go back to the roots, i.e. classic, honest Italian cuisine" says COO Everke. Regardless, in November of 2018, the supervisory board pulls the plug on CEO Jochen Halfmann and replaces him with Cornelius Everke. Everke himself has just become COO five months ago. Since 2017 he was responsible for international expansion. From 2011 to 2017 that role was filled by Mario Bauer – put a pin in that name, he’ll play a key role in the groups fate later. Then nine months later, in the middle of 2019, Cornelius Everke quits. He essentially concludes that his skillset and experience in the areas of internation expansion is no longer needed in the foreseeable future. To put it differently: Vapiano has moved from a growth story and has become a restructuring case, and other skills are required for that job. In June of 2019 Everke says the following “(we’ve) made a bit of a mistake when it came to foreign expansion”. No sh#t. Vapiano postpones the presentation of the 2018 annual financial statements three times in the spring of 2019, citing negotiations over an urgently needed loan of 30 million euros. It’s not until the end of May that a binding loan commitment comes through from the financing banks and major shareholders.
We are now in August of 2019 and the corona pandemic is just around the corner. Supervisory board chief Vanessa Hall takes over as interim-CEO and things are unravelling. Visitor numbers are declining; originally, it was planned to sell the US business but halfway through the year the buyer cannot come up with the money. But not all restaurants are performing poorly. The group's poor figures contrast starkly as an example with the experiences of the Swiss-German franchisee, who runs six restaurants. The Sodano family in Switzerland pays Vapiano a royalty of 6% of sales for the use of the brand. Enrico Sodano explains in an interview that they operate largely autonomously from the licensor. If an “accident” were to occur, he could immediately replace the Vapiano sign with Sodano, he says. The family concluded the rents and contracts with employees and suppliers independently. The Sodano family have six locations in Bern, Basel and Zurich, around one million guests every year and 350 employees. Things are going well on the ground. The delivery service they’ve built is offering them a second income stream. Expansion into Winterthur, St. Gallen and Lucerne are being planned; small locations with 150 to 250 square meters and an attached delivery service. Originally, Vapiano restaurants used to be huge but for such a large restaurant to be profitable, 800 to 1,000 guests per day are needed. That’s possible in medium-sized cities, but not in smaller towns which is why the Vapiano group now also supports smaller formats. Back to our corporate drama. The 2019 annual report would be the last report the group files. By the end 2019 the outstanding debt of the company is at an astronomical 450 million euros. Revenue has grown by another 7%, produced by four net new openings through two JVs and two franchise restaurants but operating losses come in at 317 million euros. That sound like an absolute shocker at first but depreciation and amortization charges are 345 million, so that operating cash flow is actually positive but unfortunately capital expenditures and interest payments are so large that they are eating up all of the company’s operating cash flow. Then in the beginning of 2020 Corona hits with full force and the world shuts down. As a result of the measures to prevent further spreading of the virus, the group is forced to cease all global business operations (except in Sweden). While all these shutdowns are happening, the group is the middle of negotiating with its lending banks and main shareholders. There are additional financing needs for restructuring measures, even without a pandemic happening in the background. The situation is so dire that the company starts pleading to the German government to roll out the package of financial help more quickly. Unfortunately, it’s to no end. The rapid closure of restaurants and the resulting lack of operating cash inflows in conjunction with the additional financing requirements, lead to the company’s final knockout punch. In April of 2020, the Vapiano group officially files for insolvency proceedings. The end of an era.

New Beginnings

Because of the pandemic, the majority of the group's subsidiaries in Austria, the Netherlands, Denmark, the United States, Sweden, and China also file for insolvency or seek liquidation. The US business never gets sold in the end and is wound down. In the summer of 2020, significant group divestments occur, including the sale of 75% shares in the group's French subsidiaries, shares in franchisor companies, Australian subsidiaries, German subsidiaries, associated companies, self-managed restaurants in Germany, and insolvency-related sales in the Netherlands, Great Britain, and Sweden. The buyer of the Vapiano brand and one of these bundles of Vapiano restaurants is company named Love & Food Restaurant Holding, a consortium led by Mario C. Bauer – a name I told you to remember. Bauer was a former Vapiano board member and led the national and international expansion, opening 200 sites in 33 countries from 2011 to 2017 until he was succeeded by Cornelius Everke. Bauer didn’t feel comfortable with the IPO at the time but clearly has a lot of managerial and entrepreneurial talent.
The buyer consortium is an absolute A-Team comprised of European QSR top league hitters, including the founder of the Pret A Manger chain Sinclair Beecham; Henry McGovern, the founder and Ex-CEO of the giant international restaurant and foodservice operator AmRest; the Van der Valk Family that runs hotels and Vapiano restaurants in the Netherlands, and co-founder and ex-CEO Gregor Gerlach. The acquisition value is 15 million euros and entails 30 Vapiano restaurants in Germany, albeit that’s just the purchase price which comes on top of any capital investment needed to refresh and return the sites to its former glory. Nevertheless, just as a thought experiment, if you can get each site to 2 million euros of revenue and 400,000 euros in operating profit on average, which wouldn’t be an overly aggressively assumption given the company’s history, you’ve got yourself a package that can deliver restaurant-level operating profits of 12 million euros or more. It’s not disclosed how much capex was needed to refresh the operations, just that fact that the overall investment plus purchase price was a middle double-digit million-euro figure. Stil, it probably was a decent purchase. The same consortium buys Vapiano’s French business for 25 million euros just two weeks prior. After the transaction concludes, the master franchise is given to Delf Neumann and his Gastro & Soul GmbH. Neumann is an experienced operator, and he is ambitious to revitalise the brand with new services and products. For example, instead of pizza, the restaurants will be serving pinsa - a flatbread made from sourdough, wheat and rice flour, topped similarly to a pizza. It targets a more health-oriented customer base looking for a less calory heavy option. The menu overall is expanded by including a variety of vegan and vegetarian dishes.
https://preview.redd.it/kpt7ea6red0d1.png?width=1242&format=png&auto=webp&s=c9930ced85ee364e9df414547cae06b47a03fc19
Today Neumann’s Gastro & Soul GmbH operates 18 Vapianos on its own account and has 29 franchise sites, amongst other brands. By the year 2021, Vapiano operates 191 restaurants in 34 countries. This is around 50 fewer sites than before the bankruptcy. The number of branches is particularly thinned out in Germany – from 80 to 55. Nevertheless, Vapiano's home country remains by far the largest market, followed by France with 35 restaurants and Austria with 15 locations. “We have shrunk ourselves to health,” says Bauer in the aftermath and there is no further shrinking planned. Quite the opposite, the smell of expansion is in the air again – pun intended. Not as aggressively as before and with a new menu and ordering process.
Overall, the team around Bauer is filled with industry experts with knowledge and networks gained over decades who have a great track record, a long-term view, and the staying power to let Vapiano breath and finds its way back to success. The pressure of being a public company with all the associated quarterly, half-year and yearly disincentives have been removed. The menu is changed and extended with new types of pasta and sauces with significantly more vegetarian and vegan dishes available. Guests can order with restaurant staff, at terminals or on their phones and there are barcodes attached to the tables identify the respective seat. The food is brought to your table, all at the same time if you are in a group, no more annoyances with waiting in line. There is a plan for smaller, 350 square meter locations, with half the number of guests and significantly fewer staff and less set-up costs required to make the economics work. Locations that capitalize on remote work and increased demand for local lunch options, higher population density with shorter delivery routes and therefore cost-effective in house delivery services are targeted. And Bauer is testing the concept of ghost kitchens, which operate without a dining room or service staff, focusing solely on preparing food for delivery services, which for obvious reasons have a very different operational set up and footprint. Original founder Mark Korzilius however is not entirely convinced. He is not a fan of the pinsa for instance and he considers Vapiano's pizza as its cash cow, flagship product and believes that the core Vapiano proposition of Pizza, Pasta, Bar that has given the company its original success is being diluted. He instead admires the competitor L'Osteria, saying they’ve done a better job by focusing on Italian classics, especially the impressively large pizzas that sticks out beyond the plate is leaving every customer in awe. The guys who run L’Osteria are the same guys who have built Vapiano with him in the first place. Bauer on the other hand, like a true business leader, remains undeterred, stating that he is frequently asked whether Vapiano's restart was bold or foolish. He believes in entrepreneurship, franchising, in his experienced fellow partners and importantly the Vapiano concept. By the year 2024 you can find over 140 Vapiano branded restaurant in 27 countries across the globe, including locations far away from its birthplace like Australia, USA, Columbia, Chile, Bahrain, and Saudi Arabia. And why not? Italian food is, and will remain to be, incredibly popular. Vapiano offers fresh and tasty food at affordable prices in a good atmosphere. This combination of attributes should attract a lot of customers. It certainly has in the past.
For more stories: WIP Thomas Weitzendoerfer Substack

submitted by Specialist_Bake6514 to unpackbusinesses [link] [comments]

2024.05.14 11:46 jeppsonlawmo Bankruptcy Automatic Stay in Kansas City, Missouri

When seeking a fresh financial start, it is imperative that you fully understand the nature of the bankruptcy automatic stay. It is important because the automatic stay is activated when you successfully file for bankruptcy. It is the tool that prevents your creditors from pursuing collection activities against you. If you need clarification, you need practical assistance from a seasoned bankruptcy lawyer.
Know more at https://jeppsonlawoffice.com/the-automatic-stay/

submitted by jeppsonlawmo to u/jeppsonlawmo [link] [comments]

2024.05.14 09:28 Aggressive-City4453 Lakeshore cabin 41

The story begins in 1968 on one of the deepest freshwater lakes, crater lake in Washington state. Marc a 23 year old explorer, loved camping fishing just getting away from it all. Marc grew up in a smaller town Moses Lake Washington. Its located off the interstate in between Spokane and Seattle Washington, Marc decided he wanted to go explore the crater Lake area only telling his mother and father where he was headed. “Expect me back in a week” Marc said bags packed loaded into his 2015 ford explorer.
He pulled out of the driveway waving goodbye to his mother. Little did they know this was the last time they would see eachother due to the events about to unfold. Marc jammed his favorite tunes the whole 3 hour trip to crater lake. He was there found his campsite right away, nobody was within a 300 yards of his secluded little spot. He unpacked put up his tent and was ready for a hike.
It was 330 in the afternoon on day 1 of his little vacation. When he took off on a steep rugged trail that made its way around the lake. Marc never was one to stay on the beaten path as he liked to explore and go places not many others have ever gone. After getting his fill of sights and feeling exhausted and hungry. Marc decided it was time to make his way back to camp. He made dinner drank a few beers that he enjoyed while camping and turned in for the night.
It was a quiet night and Marc found himself fast asleep as soon as his head hit the pillow, The next morning Marc was up early made some breakfast and packed a lunch for the long eventful day ahead. His plan being to go off the beaten path again and find some little streams to fish along the way. Marc hiked about 3-4 hours off the main trail and found a beautiful crystal clear brook with rapids flowing into some deeper holes.
Perfect for catching brook trout and that he did. using a panther Martin black with yellow dots and a silver spoon to mimic baitfish and it was the color that was always his go to. It wasn’t but his second cast and a nice 1lb brookie nailed his spinner and put up a little fight before Marc landed it and immediately gutted it and stored it away. Brook trout are one of best eating trout. Marc continued to climb up the stream to higher elevations hitting hole after home along the way.
The day went by quick as it was nearing dusk and Marc had caught 12 nice sized brook trout and a couple little cutthroat as well. Plenty to make a good 3 meals out of. Geared with only a flashlight and his pack fishing pole and fish cleaning supplies Marc made his way of what he thought was the way back out towards his camp.
Checking his watch on his phone Marc seen it was 11pm pitch black dark out now and he realized he had been walking long enough that he shoulda recognized some landmarks or where he had made his way in, but he didn’t recognize anything and with it being dark out he was even more lost.
Without panicking Marc decided to set up a little camp where he was. under some big pine trees surrounding the whole area next to another little stream that he stumbled into. Giant boulders made for a nice cover to keep himself tucked away in case any large animals might have passed by looking for a meal. Marc was aware he was in bear country as well as cougar and wolves.
Unable to catch any sleep Marc sat and built a little campfire cooked a few trout ate them and kept the fire stoked until the sun started peeking up over the mountains at around 445 am. As soon as he was ready to get back on track Marc looked around and realized where he was or so he thought. The little stream forked off and hooked around making a horseshoe type shape exactly like the one he had seen on his way in yesterday afternoon.
Marc now excited and in a hurry quickly hiked through the brush mixed in with pine trees away from the streams until he could no longer hear the flow of them. After walking a hood 3 hours Marc was starting to get frustrated that nothing was looking familiar to him again. It was now early afternoon and Marc knew he was lost the terrain looked all so similar and he had ventured actually two times as far away from his original camp.
Unaware of this Marc made his way to another stream and decided to follow it down the mountain hoping it would lead into a lake or maybe crater lake where he was camping. Marc hiked and jogged and was just enjoying the scenery when he stumbled upon an old looking cabin. The trees were really big blocking out most all the light from the sun here and even at about 5pm it seemed like it was getting dark.
Marc was feeling wore down he had hiked close to 35 miles the past two days trying to find his way back out. He decided to go check if the cabin was inhabited he went up yjj ok the door knocked three of four times. But nobody answered. So after about 10 minutes of waiting marc decided to peer into the window and could see some old handmade furniture a wood stove and a few other miscellaneous items on the floor.
It looked like nobody had been here for years like it was an old secret hunting cabin back in the woods that only a few if any people knew about. Marc noticed a little homemade sign on the wall that read lakeshore cabin #41. He tried the door assuming it was locked but it was not. So he went in as the night was creeping in fast. He gathered some wood put in the wood stove cooked up some more trout and was exhausted from no sleep the night before .
Marc used his pack as a pillow curled up in the corner of the living room by the wood stove and was gone into dreamland before he knew it. Marc’s phone battery was in the red line when he had woken up only 18% left. So he decided to write in his phone notes just in case something were to happen to him or he didn’t make it back out. As he was doing this and finishing up he felt like he was being watched. Just had an eerie unsettling feeling of an evil presence nearby.
This gave Marc anxiety so after noting all this in his phone he turned it off to then save energy. His last few words on his phone when it was discovered two years after a missing persons report was filed said im actually feeling scared like I gotta leave now so I’m going to leave the cabin and head west as far as I can before next nightfall. I love you mom and dad and I hope I see you guys soon.
This was the last anyone ever heard of Marc when his phone was found busted up 25 miles away from crater lake under a group of smaller pine trees. No foul play was discovered and not one sign of Marc or his belongings were ever found to this day. Some say he stumbled into a haunted cabin and something evil took him never to be seen again. Others say he just got lost and ran outta food and water and eventually had succumbed to dehydration and the animals cleaned him up. But no bones, pieces of clothing anything was ever found.
Marc’s parents were able to gather his original tent and camping supplies as that had not been messed with up by crater lake. What do you think happened to Marc? Was he abducted, torn to pieces by animals, something paranormal in those woods got him? Another unsolved missing person in the woods story. Where do these people go? What is happening to them?

submitted by Aggressive-City4453 to scarystories [link] [comments]

2024.05.14 08:35 turquoiseanswers QMom says people will be rioting with pitchforks soon

My QMom was on the phone with my QDad earlier (on speaker so I heard everything) and she was all eager about how everyone will soon be “erupting with anger” due to the economy. Society will finally have enough of the “secret elites” controlling the world.
My dad’s response was “Nah, everyone around us are a bunch of mindless zombies now.”
Aside from a few conspiracy oriented people he knows, he thinks pretty much everyone else is “asleep and clueless to the real world.”
She’s gotten so obsessed with the economy and housing market. YouTube blasts in our house for several hours a day, and it’s usually the same “expert realtor” guy who walks up and down his street all day showing us the foreclosures and “disasters” in his upscale neighborhood. I looked him up and he’s MAGA too.
My parents are still waiting for “criminal corruption” to be exposed. Everyone you know will be rioting in the street demanding repentance from the evil people who made covid vaccines. I had to get all of mine done secretly. They’re still anticipating everyone dropping dead from it. Every case of cancer is blamed on it. They think spike proteins are shedding in the air so even the unvaccinated aren’t “safe.” My dad says he instead vaccinates himself everyday with probiotics.
My mom also freaked out today because some hospital chain I’ve never heard of filed for bankruptcy. It must be due to the impending collapse of the economy where the US Dollar will no longer exist, and also because “nobody” trusts the medical field anymore.
Shes terrified of being forced to use the new mandatory virtual currency that will be pushed on us “soon.” The masses will love it because everyone will be given an equal allowance from the government every month. There will be no rich or poor, and nobody will have to work anymore, so if you’re not “awake” like my parents you’ll be full of glee.
This wasn’t in their phone call today, but another thing bothering me is that my mom says I’m “over the hill” now because I didn’t get married at 18 and start popping out babies “like nature intended.” I’m still in my twenties, but I’ve already ruined my life because I haven’t fulfilled my duty of populating the earth.
She preaches that we’re meant to marry “the love of our life” as teenagers, but then she also likes to say “we don’t get married in heaven” so nothing we do on earth actually matters anyway.
I don’t know why but I also feel slightly guilty coming on here to talk about all this. I’ve been a regular poster in here for a few years now, and I know it’s a support group so that’s kind of the whole point. I’m guessing it’s because I was raised with the mindset of NEVER discuss anything personal outside of the family, because “it’s important to always keep things behind closed doors.” Therapy is taboo for that reason. My mom especially thinks therapists are out to get you and “load you up on drugs,” even though I’ve explained many times that therapists don’t even prescribe medication. They’re simply there to listen, which is something I don’t get at home.
I think my parents are just scared, and it devastates me how far it’s gone.

submitted by turquoiseanswers to QAnonCasualties [link] [comments]

2024.05.14 08:26 pheakelmatters Cliffsnotes for the Pascal interview

Full interview: https://www.youtube.com/live/0hIyE8jSzYg?si=iY6Rzyqe5upSJkBz

Seth confirms the PI's exit was due to Tony's involvement.
Seth said he likes Tony because Tony does whatever he tells him
Seth says the PI's didn't share all information with him and weren't checking up on leads. Seth says it's his operation, not theirs.
Tony and Seth say the Proudfoot's aren't working with them, and Tony's job was to get them on board with Seth.
Seth said the leaked phone call of Chris Proudfoot interfered with getting the Proudfoot's on board. Tony rebukes Chris Proudfoot for calling into Cluemaniti with fake voices. (note: there's still no proof this was actually CP. If anyone can link clear evidence of this please do so)
Tony claims Chris Proudfoot agreed not to do social media but did it anyway, said "he's not a good guy".
Tony said he was Seth's agent for the latest Nancy Grace appearance in regards to the polygraph he took.
Tony said he had an agreement with Nancy Grace's producers that the interview would not paint the Proudfoot's in a bad light. He said when the polygraph administrator said Seth told him he believes Katie accidentally OD'd Sebastian he advised Seth to hang up immediately, which Seth complied with.
Seth confirmed this account from Tony. Seth said the polygraph administrator ask for his top three theories on what might have happened to Sebastian. Seth said he said the OD theory and an additional two more, but the polygraph administrator only focused on that one.
Tony said he spoke with Nancy Grace's team afterwards and that's why this part was edited out later on.
When asked if Seth actually believes the OD theory he evaded the question.
Seth rebukes people for worrying too much about Chris Proudfoot's ex-wife and other drama.
Seth talks about his physical search during the first couple of weeks. Goes on to rebuke people "running their mouth". He's venting quite a bit. (IMO he deserves a break here)
Seth shut down the GoFundMe because of "grief" about it. Said he used the funds for flyers and other things like that. (Fair. I admit to thinking it was more nefarious than what it likely was)
Seth is being quite genuine during this venting. (I'd hug him, no lie)
Tony rebukes Pascal's chat.
Tony talks about how awesome he is, and what a saint he is for helping Seth.
Seth rebukes soical media vultures. (Even though he's on social media vulture Pascal).
Tony once again talks about how awesome he is.
Seth praises Tony for doing whatever he tells him
Tony rebukes social media vultures, on social media vulture Pascal. Tony says it's okay to make money off of Seth's missing child, and rebukes them, and then says it's okay again. Then rebukes them again.
Seth says he has no social media and listens to Tony to stay off of YouTube... While he's on YouTube. Seth rebukes someone for commenting on his weight.
Seth praises his volunteer searchers for putting their health and safety on the line.... Rebukes people that say bad things about him online.
Seth thanks the parents of the North Carolina boy that was thought to be Sebastian for giving him a few brief days of hope.
Seth has not seen all the footage the police have. Seth says there is dashcam footage the police have. Evaded all followup questions.
Tony says he has no idea about dashcam footage
Tony says neither of them have talked to Seth's mom about her Facebook posts, but they don't blame her. Tony says she is just venting.
Tony talks about how awesome he is for not blaming Calib's grandmother either. (Another case he worked on)
Seth apologizes for cutting Tony off, stands up for his mom. Says she's feeling very helpless, and he is too. Rebukes people for sending stuff to his both him and his mom.
Seth says he obtained Sebastian's CPS file. Says he won't share it, says his attorney told him not to.
Sumner county has this file. Seth says TBI didn't have it. Seth clarified he has a redacted copy. Says Tony hasn't seen it.
Tony speaks with authority on it even though Seth said he hadn't seen it.
Seth rebukes Pascal for prying the issue.
Something something Church. Seth challenged Pascal to come to the next vigil, Pascal agrees. Let's hold him to that. It's on the 19th!
Seth says if Sumner Sheriff and TBI won't clear him than they (meaning the Proudfoot's) aren't cleared either. (This is an interesting statement!)
Pascal than spends the rest of the interview making money from reading superchats priced $5-$50. He made good bank.

My thoughts, it's good seeing Seth sober and ready for these interviews. He's definitely trying to be more cordial. Even though I'm crapping on Pascal, and he deserves to be crapped on, he advocated for for a united front from Seth, Chris and Katie. He did however cowtow to the idea that Seth should just get to see all the evidence the police have collected. He's smart enough to understand why that can't happen. Tony definitely has Seth's ear, and he probably helped him out a great deal during the Nancy Grace incident... But I still don't think he's doing it for altruistic reasons. I meant it when I said we should hold Pascal to his commitment to come to the vigil. He made more money in an hour and half than I made in the 8 hours I worked today.
My last thought... An hour and 41 minutes. That's how long that live stream was and the majority of it was Seth and Tony addressing drama that Seth and Tony and basically everyone that wasn't the Proudfoot's created (with the possible exception for Chris calling in to Cluemaniti). At no point did the stream put up a picture of Sebastian. At no point did anyone say or show the number for the tip line. At no point did Seth mention what areas his volunteer searches have covered. At no point did Seth outline areas that still need to be searched. At no point did Seth give insight to Sebastian's personality that could help indentify him. If this was the very first thing I'd had seen about this case I'd know all about Seth and Tony and how they feel about things.. but Sebastian would be pretty much a mystery.

submitted by pheakelmatters to SebastianRogers [link] [comments]

2024.05.14 08:21 Individual_Ad_2199 Can someone explain to me if this is standard renters insurance practice? I'd like to shop around but not sure how this works, per the terms of my lease (I'm including the exact language in the body of the post). Thanks! (St. Louis City, Missouri area)

The Lease is hereby amended by adding the following provisions thereto (such provisions being incorporated into the Lease as if fully set forth therein):

Lessee, at its sole cost and expense, shall at all times during the term of the Lease maintain general liability coverage for the acts and omissions of Lessee in the minimum amount of $100,000 (on a per occurrence basis) that substantially meets the following requirements:

$100,000 General Liability
Landlord must be listed on the policy as an “Additional Insured”
Landlord must be able to file claims on the policy
Following perils must be covered:

o Damage caused by tenant negligence under the following perils- Pet Damage, Water, Smoke/Fire, Explosion, and bed bugs
What I'm specifically unsure about is how to ensure that if I select a different insurance than the one they're partnered with, I get the whole "additional insured" and "landlord must be able to file claims on the policy" part.
Currently, they've given me a link to "ePremium by Inhabit", which is offered through Millennial Specialty Insurance.
Here's what I get:
Contents Coverage$35,000 Liability Coverage$300,000 Identity Fraud Expense Coverage$5,000 (endorsement included with policy) Water Backup of Sewers or Drains$5,000 Refrigerated Property Coverage (endorsement included with policy)$500 Pet Damage Liability Coverage (endorsement included with policy)$500 Bed Bug Remediation Coverage (endorsement included with policy)$750
1st Payment (down payment due today): $70.84
Subsequent Monthly Payments: $25.42
The total annual policy premium (cost) is $325.00.
A fee of $4.00 per installment will be added in addition to the subsequent payment total. Save money and avoid installment fees by electing annual payment terms.
I'm in the actual St. Louis City, not St louis County.
Is this good? is it normal? If I do shop around, what specific terms am I looking for in other company's policies to ensure I meet the requirement that: Landlord must be listed on the policy as an “Additional Insured” & Landlord must be able to file claims on the policy? Or is this a good enough price and company, as far as you can tell, and I should probably just go with it? If someone can get me the same benefits for $100 cheaper, I'm interested. $50? Maybe.

submitted by Individual_Ad_2199 to Insurance [link] [comments]

2024.05.14 06:52 gretchsunny Sorry to be the bearer of bad news

Red Lobster abruptly closes dozens of restaurants around US The closures come as the seafood restaurant chain reportedly is considering filing for bankruptcy protection Author By CNN COM WIRE SERVICE PUBLISHED: May 13, 2024 at 4:22 p.m. UPDATED: May 13, 2024 at 4:57 p.m.
By Nathaniel Meyersohn CNN
Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator.
TAGeX Brands is conducting an online auction of Red Lobster kitchen equipment, furniture and other contents at restaurants closing. The auction begins Monday and continues through Thursday, according to company founder Neal Sherman.
Red Lobster locations in Sacramento, Buffalo, Orlando, Jacksonville and other cities were listed as “temporarily closed” on Red Lobster’s website, according to local news reports. On the Red Lobster website, it said the Fremont location was closed.
Red Lobster did not respond to CNN’s requests for comment. The company has around 650 locations.
Red Lobster is reportedly considering filing for bankruptcy protection. The chain has tapped a restructuring expert as its chief executive, a possible indicator of an impending bankruptcy.
Red Lobster was a restaurant industry pioneer, but has declined in recent years due to a range of factors, including corporate mismanagement, say former leaders at the chain and restaurant analysts. In 2020, Thai Union, a longtime supplier to Red Lobster, took an undisclosed financial stake in the chain, becoming a key shareholder. Since then, Red Lobster has cycled through four CEOs and an all-you-can-eat shrimp deal last year that slowed down table service and cut into Thai Union’s profitability.
Thai Union said earlier this year it would divest from Red Lobster and take a $530 million loss on its investment.

submitted by gretchsunny to ucla [link] [comments]

2024.05.14 06:27 IntentionHoliday1087 Am I still gonna qualify for the need based scholarship?

I plan to apply to medical school in 2025, and I am currently in the process of entering escrow to purchase a home under my name. My father passed away last year, and my mother might need to file for bankruptcy due to the debts he owned. By the time I apply to medical school, I may or may not own the home, as we might change the name of the property and the loan to my mother's name. Will I still qualify for need-based aid even though I owned the house on the record?

submitted by IntentionHoliday1087 to FAFSA [link] [comments]

2024.05.14 06:23 cyanideturtle My father checked his bank app for the first time in 2 years, found out he owes 40k in cc debt. what should we do?

I need some advice on what is the best thing for me to do. My father doesn’t speak good English, and he isn’t well educated on financial matters. Today, he went to restaurant depot to buy something, and his card was declined. When he called Bank of America, they said that he is past his credit limit and can’t spend any more money on this credit card. Tonight, he checked his bank app for the first time in 2 years and saw that he has over 40k in credit card debt in this one account. He said he pays what he owes every month, but never realized that he hasn’t paid off the whole thing because they don’t send the statement in the mail anymore. Overtime, the interest grew to 10k. 10k+30k=40k. Today, he owes 40k. He is heartbroken/angry and doesn’t know what to do. He wants to go to the bank tomorrow to negotiate for them to get rid of the interest amount by saying that he simply didn’t know. Knowing the bank system, I don’t think that would be possible. Should he file for bankruptcy? Or consolidate the debt? What is the best thing to do here to mitigate the debt. If the card didn’t decline today, this could’ve gone on another year :(

submitted by cyanideturtle to personalfinance [link] [comments]

2024.05.14 06:08 IntentionHoliday1087 Qualify for need based scholarship?

submitted by IntentionHoliday1087 to medschool [link] [comments]

2024.05.14 05:58 moemoe0725 AITA to tell a coworker to stop spamming me on Snapchat

Tldr is at the end...This is from when I was in University when Snapchat was huge, and minor details that don't affect the story been changed so I don't break my NDA.
While in university I (20F) worked a internship. Every semester (4 months) they hire 8 students to work this internship and they are picky about who are hired. Criminal record checks, meet certain academic requirements, interviews, references etc. Those who come out of the internship can basically get any job within this field after they graduate.
The students are assigned to different processes of certain cases and we work under some well season professionals in this field.
There's a girl, Ashley (not her real name, 20F). I know of Ashley because a friend from a previous internship is friend with her.
Ashley joined us 1 and 1/2 week after everyone's start day because she had previously planned a vacation to see some basic white people music artist's concerts in the other side of the country.
She got everyone social media first day she was here and she seem generally normal. It was a little annoying to get her up to speed, but in a week she was able to work her part without too much direction from the rest of the students.
After the week of catching her up, she told the office she's going to the other side of the country to see the same artist's concert but in a different city. And she will leave in 3 days. She didn't tell us how long but she said it won't be long because the artist is only playing 1 show at that city.
While she was gone the professional are constantly bugging us students about the progress of the cases. We always have to tell them, that Ashley handles those part and she's away. After 3 weeks of Ashley being gone, the manager came to us students and ask us why we haven't finish theses things and learn that Ashley caused this. The manager decided to teach me and another student how to do Ashley part so we can get on with the cases. Ashley was gone for another 2 weeks after this.
Halfway through this internship, the school send someone to check in. I did my interview with the school representative and when I finished she ask me to get Ashley. I told her that Ashley isn't in, she's following some artist in the other side of the country. The rep was surprised to learn that and she said something along the lines of "she said her grandfather died, she should be back now"
All the student interns are very annoyed at Ashley because she's basically never here and we have to do so much more because she wasn't around. When Ashley came back, she forgotten all the processes and didn't even know the name of the professional she's partnered with.
So Ashley would just nap in the file room and not work. She will constantly bug me and the other students on how to do certain things and when the professionals ask why certain things aren't done or she did them wrong, she'll blame that we didn't teach her that.
In this internship we developed a little tradition where the students get lunch together on Wednesday, but it's not mandatory. One of the Wednesday when Ashley came to work, we all went to get dim sum together. Ashley said she don't eat meat for religious reasons so she will join for chatting but don't want to pay and had food in her cabinet. We thought that was fair enough as dim sum usually have some meat elements in them. Ashley proceeds to eat a fair amount of dim sum. Some of them, containing meat, even though we told her that there's meat in it. She said "it's okay because I'm just sampling it." and ordered 2 Cokes. I can't remember what the bill came to but we all have to chip in extra cash because Ashley "didn't really eat anything" even though you can see the chicken feet bones on her plate. She proceeded to make us accommodate her religious meatlessness when we pick restaurant for Wednesday lunches, thankfully she was barely in the office so it wasn't too big of a deal.
A little more time goes on and it's the last month of this internship and the student is trying to wrap up their cases to pass on to the new batch of students. Usually students need to sign an NDA about the stuff we did in the internship, and shred the copies of sensitive documents we keep in our cabinet.
Without telling anyone, Ashley just flew to a different country. Leaving all of us in a panic because without Ashley signing the NDA and her key to open her cabinet, the whole department can be liable to some serious trouble. The manager literally told us to contact Ashley anyway we can , so we can get Ashley back to sign the NDA and open her cabinet to see if there's anything we need to shred. Since I had Ashley on Snapchat, I told her that the manager need her back for this procedure or else we'll all be in big trouble. She told me that she won't be back in the county for another month cause she's following that same artist. And I told the manager that, and the manager just told us to do our part.
Since the day that I contacted Ashley on behalf of my manager, she been snapping me every single day. About her fancy latte, her front row seat of the concert, her hair being funky etc. While the rest of us students has to panic about the potential legal issues we are in and making up for the work she was supposed to be doing.
The day the internship was over, Ashley was as usual spamming me with her basic b latte in front of the concert venue of her basic white people music artist, and I sent her a message on Snapchat. "Please stop snapping me, I don't want to know about this concert anymore" She replied, "OH I'm sorry, I was just hitting reply all on my snap every time I post" and she never contacted me again.
A few months has passed, and I heard that she had started to talk behind my (and all the other students) back to anyone who'll listens, and made our mutual friend from the previous internship to cut me out of their lives.
Am I the asshole for telling her to stop snapping me?
Tldr: Am I the asshole to tell a coworker who missed half her prestigest internship to follow some music artist's tour and ate a bunch of food on everyone's dime to stop spamming me about the tour while everyone is trying to make up for her missing work.

submitted by moemoe0725 to CharlotteDobreYouTube [link] [comments]

2024.05.14 04:56 m1mye Himalayan charcoal mask dupe

Well, I’m extremely out of date with things and didn’t know about the body shop filing for bankruptcy. I went to go place another order and realized the website(USA) is down. Anyone know of an alternative for the Himalayan charcoal purifying glow mask? This stuff is my holy grail so I’m sad to see go.

submitted by m1mye to thebodyshop [link] [comments]

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