caption Michael Avenatti. source Mario Tama/Getty Images Michael Avenatti, whose profile has skyrocketed in recent months as Stormy Daniels’ attorney, is under fire in relation to Tully’s – a coffee chain he purchased in 2013 – even though Avenatti says he sold his interest. Dozens of lawsuits (many of which are still unresolved) allege that Tully’s parent company, Global Baristas, failed to pay rent and suppliers. Business Insider spoke with six former Tully’s workers who said they witnessed signs of financial woes, such as inadequate upkeep and issues with suppliers. Some former employees told Business Insider that Avenatti was seemingly involved in financial matters at the chain – one says until all locations abruptly closed in March. Avenatti refutes these claims. Avenatti’s explosive rise coming soon after … [Read more...] about Coffee shortages, payment questions, and shocking closures: Former employees at the coffee chain once purchased by Stormy Daniels’ lawyer share what it was like to work at Tully’s
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caption Elizabeth Holmes was charged with massive fraud in March. source Jamie McCarthy / Getty Financial fraud is a major crime which often comes with heavy punishment and fines for those involved. Enron, Cendant, and WorldCom are examples of massive companies torn apart by financial fraud and scandal. Other cases include fraudsters trying to sell the Eiffel Tower and the Brooklyn Bridge. Financial fraud is a serious white-collar crime that often comes with heavy punishment and fines, but the details of the misdeeds can be stranger than fiction. Recently, numerous charges of fraud – and alleged fraud – have made headlines. In April, Wells Fargo was fined $1 billion to resolve probes into lending abuses. Elizabeth Holmes founded Theranos at 19 but her success came to a sudden halt when she was charged with “massive fraud” in March. Financial fraud isn’t new, and the extent of … [Read more...] about The most memorable and expensive financial fraud cases of all time
By Haroon Siddiqui Special to the Star Sat., April 7, 2018 More and more governments are rushing to confront the dangers posed by Facebook, Google, Netflix and other digital giants. But Ottawa has yet to grow out of its infatuation with them. In genuflecting to these rapacious American corporations, Justin Trudeau and his two cabinet colleagues entrusted with the file, Heritage Minister Mélanie Joly and Democratic Institutions Minister Karina Gould, are failing to stand up for Canadians, Canadian companies and Canadian sovereignty. Several reasons are proffered for their deference: They don’t want to risk antagonizing the Donald Trump administration in the middle of testy NAFTA negotiations. They are being particularly nice to Facebook since they are lobbying it to locate a data centre in Canada. Article Continued Below They want Facebook to ensure that the Liberals are not undermined in the 2019 federal election the way Hillary Clinton was in … [Read more...] about Why is Justin Trudeau bowing down before the U.S. internet giants?
By Michael Lewis Bloomberg View Mon., Feb. 19, 2018 Back when he was president, Barack Obama told me that only two people treated any interaction with him as a zero-sum game. One was Vladimir Putin, the other congressional Republicans. Both behaved as if there was no such thing as a win-win situation: Any gain for Obama was a loss for them, and any gain for them must also entail a loss for Obama. The moment that the Russian president or congressional Republicans saw he wanted something, they went to work trying to keep him from getting it — even if it was something they might otherwise have approved of. Approaching any aspect of life as a zero-sum game has obvious practical costs: Deals that leave some people better off without making anyone else worse off suddenly don’t get done, because making some people better off now, by definition, makes other people worse off. It also comes with some psychological side effects. It cripples your imagination. It … [Read more...] about Looking for Donald Trump in all the wrong places
The owner of Arby’s, Roark Capital Group, announced it would buy Buffalo Wild Wings for $2.9 billion in November 2017. The deal was finalized on Monday. The two restaurants will be run separately under the name of a new company, Inspire Brands Inc. With the merging could come some changes for the two chains. Arby’s parent company, Roark Capital Group, confirmed on Monday that its deal to acquire fast-casual restaurant chain Buffalo Wild Wings has been completed. The deal was initially announced in November 2017. Roark Capital, which also owns Arby’s and Cinnabon, agreed to buy Buffalo Wild Wings for about $2.9 billion. The two chains will fall under the new name of Inspire Brands Inc. but will be kept as separate and distinct brands, a spokesperson for Arby’s told Business Insider on Monday. But, we can certainly expect to see some changes. “Arby’s and Buffalo Wild … [Read more...] about Arby’s and Buffalo Wild Wings are joining forces to create a fast-food empire — here’s what could change