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Russia’s Tatarstan has emerged as the leading purebred horse supplier for North Korean leader Kim Jong Un and his generals, authorities announced, after a local breeding farm shipped multiple elite Orlov Trotters to the DPRK in recent years.
The Tatarstan Republic’s agriculture ministry said in June that Tatar Stud Farm No. 57 supplied more than 15 purebred Orlov Trotters to Kim and his cavalry regiment over the past seven years.
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The price of bitcoin, which more than doubled last year in a trend that many attributed to the “Trump trade,” obviously played a big role in this alchemy, but there was also another factor—one that did seem a little magical, or insane, depending on your viewpoint. As MicroStrategy expanded its purchases, eventually accumulating more than three per cent of all the bitcoins in existence, its purchases helped drive the price of the digital currency higher. But—and this is the magical bit—its stock price went up even faster than bitcoin did. Toward the end of last year, investors were valuing MicroStrategy at more than two times what its bitcoins were worth, which meant that, for every dollar the company invested in bitcoin, it was creating more than two dollars in value. Some observers labelled Saylor’s bitcoin strategy as an “infinite-money machine,” or an “infinite-money glitch.”
Whatever you called it, the gap between MicroStrategy’s market value and the value of its bitcoins couldn’t be explained by the company’s non-digital assets, namely its original software businesses. Saylor’s supporters offered two explanations for why MicroStrategy was still a worthy investment. First, the price of Bitcoin could rise a lot further; Saylor claimed that, by 2045, it would reach thirteen million dollars. Second, MicroStrategy had found clever ways to amplify gains for regular shareholders. By issuing preferred stock and debt that could be converted into shares at a later date, and then using the proceeds to buy more bitcoins, MicroStrategy said it could give holders of its common stock “amplified exposure” to the cryptocurrency. Another term for this was leverage—using borrowed money to boost returns. Some skeptics, including the professional short seller Jim Chanos, questioned whether this strategy could last, but his warnings didn’t catch on at the time. This past February, MicroStrategy unveiled its latest financial results, and a rebrand. “Earlier today, we announced that we are now Strategy, a new name that powerfully and succinctly conveys the universal and global appeal of our company.”
Hubris precedes the fall. After Strategy’s stock peaked above $450 in mid-July, it went into an extended nosedive and ended November trading at $177.18. That wasn’t the only bad news for Saylor and his believers. As Strategy’s stock fell by sixty per cent, the price of bitcoin fell by only twenty-five per cent. This meant that the spread between Strategy’s market capitalization and the value of the bitcoins that it owned was closing. By the end of last month, that premium had all but disappeared, and at one point last week the market value of Strategy dipped below the value of its bitcoins (after accounting for its debt). In the words of a columnist at Bloomberg, Saylor’s infinite money machine was “glitching out.”
Recognizing the severity of the situation and hoping to reassure investors, Strategy announced that it had built up, by selling even more stock, a “dollar reserve” of $1.4 billion. It could use this to make required dividend payments to holders of its preferred stock over the next twelve months. (Regular shareholders don’t get a dividend.) But it also said that, if its value continued to sink below the value of bitcoin, it might sell some of its coins—a previously unthinkable move for an evangelist like Saylor, who in February of this year tweeted, “Never sell your Bitcoin.” If Strategy was forced to unload some of its bitcoins, that could conceivably send the cryptocurrency, and the firm’s stock, into another dive.
Strategy is now facing another challenge: the possibility that its stock could be removed from a major stock index, the MSCI Index, which analysts at JPMorgan estimated could lead to outflows of billions of dollars. On a more hopeful note, the price of bitcoin has risen over the past couple of weeks on expectations that the Federal Reserve is about to cut interest rates and pump more money into the financial system. In the past, some analysts noted, there has been a correlation between the Fed’s monetary interventions and rallies in bitcoin. So it seems at least possible that Jerome Powell and his colleagues, who are focussed on preventing a recession, will inadvertently bail out the crypto bros, Saylor included.
Even if this happens, though, Strategy may well struggle to repeat its earlier success. The market opening that Saylor spotted back in 2020 has been largely filled. Dozens of other public companies, including MARA Holdings, a bitcoin-mining company, and Trump Media & Technology Group have acquired substantial holdings of bitcoin. And, for investors wanting direct exposure to bitcoin through their brokerage accounts, there are now more than a dozen Bitcoin E.T.F.s, including BlackRock’s iShares Bitcoin Trust, which trades under the symbol IBIT and owns even more coins than Strategy does—around seven hundred and seventy-five thousand coins compared with Strategy’s six hundred and fifty thousand.
In the crypto world, you can never say never, but for now the longtime skeptics of Strategy have been vindicated. They include Chanos, who said he has made money by shorting the firm’s stock and buying bitcoins in what is known as a paired trade. Last week, he told Sherwood, an in-house news site for the online trading platform Robinhood, “Our core thesis from the beginning—and it’s still our core thesis—is don’t pay more than $1 for something worth $1.” If investors follow this advice, Saylor and Strategy will still benefit from any sustained rebound in Bitcoin. But, alas, they won’t be able to reboot their infinite-money machine. ♦
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John Cassidy
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Archer Aviation, a leading developer of electric vertical takeoff and landing (eVTOL) aircraft, just made one of its boldest moves yet. The company agreed to acquire Hawthorne Airport for $126 million in cash.
According to Archer’s latest shareholder letter, the deal includes the remaining 30 years on the airport’s master lease and an exclusive option to take a controlling stake in the on-site fixed-base operator, subject to city approval.
This historic 80-acre site includes about 190,000 square feet of terminals, office space and hangars. Its location near LAX and major Los Angeles destinations makes it a prime spot for an air taxi network that aims to change how people move in crowded cities.
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A rendering of Archer’s development plans for Hawthorne Airport in Los Angeles. (Archer Aviation)
Archer Aviation plans to use the airport as the main operational hub for its LA air taxi network. The company also plans to prepare the site to support transportation during the LA28 Olympic and Paralympic Games. This includes managing everything from takeoff scheduling to ground operations. In its shareholder letter, Archer frames Hawthorne as a “plug-and-play” anchor hub for its LA28 Olympic plans, saying it expects to ramp up aircraft testing, storage, maintenance and charging on-site as it prepares for commercial service.
The airport will also become a test bed for next-generation AI-powered aviation systems. These tools will help Archer develop smarter air traffic management, faster turnaround times and safer operations in crowded airspace.
Archer outlines a two-phase plan in the letter. Phase 1 focuses on redeveloping up to 200,000 square feet of hangars and locking in control of the FBO, while Phase 2 layers in AI air traffic and ground management, smart sensor-embedded runways and a more digital, streamlined passenger experience.
United Airlines CFO Michael Leskinen praised the move and said, “Archer’s trajectory validates our conviction that eVTOLs are part of the next generation of air traffic technology that will fundamentally reshape aviation. Their vision for an AI-enabled operations platform isn’t just about eVTOLs, it’s also about leveraging cutting-edge technology to better enable moving people safely and efficiently in our most congested airspaces. Through United’s investment arm, United Airlines Ventures, we’re investing in companies like Archer that pioneer technologies that will define and support aviation infrastructure for decades to come.”
Meanwhile, Hawthorne Mayor Alex Vargas celebrated the deal on social media, writing “WELCOME ARCHER TO THE CITY OF HAWTHORNE!”
Archer plans to turn Hawthorne Airport into the main hub for its LA air taxi network. (Archer Aviation)
Not everyone is cheering Archer’s plan to turn Hawthorne into a flagship hub for AI-guided flying taxis. A local group called Hawthorne Quiet Skies, made up of residents living around the airport, says it was blindsided by the $126 million takeover and that no one from the company or city bothered to engage it before announcing a “test bed for AI-powered aviation technologies” over homes.
Neighbors who live just across the street and within a couple of blocks of the runway describe Hawthorne as one of the most tightly packed airports in the country, with homes on three sides and years of complaints about deafening jet and helicopter noise. The city’s own 2021 noise study identified more than 160 homes and roughly 480 people already exposed to unhealthy noise levels, yet residents say there has been “zero progress” on mitigation even as the airport shifted from small private planes to commercial traffic and now an around-the-clock eVTOL hub.
The group is also raising alarms about Archer’s AI ambitions, pointing to academic research that current machine-learning systems in aviation still struggle to handle unusual conditions and lack formal safety guarantees.
They argue that whatever the promises of cleaner, futuristic air taxis, Hawthorne is being used as a live test site without clear safeguards, updated federal noise rules or any serious plan to compensate families if nonstop eVTOL traffic makes their homes too loud to live in.
CHINA’S FIRST MASS-PRODUCED FLYING CAR DEBUTS
Alongside the airport news, Archer reported major financial momentum. The company raised an additional $650 million in equity, which boosted its total liquidity to more than $2 billion. The company’s Midnight aircraft also hit new flight milestones, including a 55-mile flight at over 126 mph and a climb to 10,000 feet.
Archer also expanded its global technology footprint. It completed the acquisition of Lilium’s patent portfolio, which pushes Archer’s total intellectual property to more than 1,000 global assets. Those patents cover ducted fans, high voltage systems, flight controls and other key technologies.
International expansion is underway, too. Archer began test and demo flights in the UAE and secured new partnerships with Korean Air and with Japan Airlines and Sumitomo’s JV in Osaka and Tokyo.
The airport will serve as a test bed for next-generation AI aviation systems designed to manage busy airspace more safely. (Archer Aviation)
Archer’s airport deal suggests that air taxis are moving closer to everyday use. This shift could mean shorter trips across major cities at a fraction of today’s travel time. It could also bring quieter aircraft over neighborhoods compared to helicopters.
For Los Angeles residents, Hawthorne Airport may become a central point for fast point-to-point travel once certification moves forward. Visitors flying in for major events like the LA28 Olympics could see air taxis as a smooth alternative to gridlocked freeways.
Businesses may gain new options for rapid transport across the region. The move also signals more investment and jobs in advanced aviation, automation and clean electric travel.
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Archer’s acquisition of Hawthorne Airport marks a major milestone in the race to build a real air taxi network, giving the company the aircraft, funding and prime location it needs to push the industry forward. Its focus on AI-driven operations shows how automated aviation may soon play a much bigger role in daily life, even as regulators are still working out how to safely integrate these aircraft into crowded cities. At the same time, the move is already sparking backlash from neighbors who worry about more noise and safety risks and being turned into a test site for AI-guided aircraft without a real say. If Archer can win over regulators, investors and the communities living just beyond the fence line, this step could make the future of urban flight feel much closer, for better or worse.
If air taxis become a real option in Los Angeles by 2028, would you try one for your daily commute or stick to the ground? Let us know by writing to us at Cyberguy.com.
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Mattel, Hasbro Could Win As Toy Retailers Scramble to Stock Up for Holiday
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An annual survey conducted by industrial real estate investment trust Prologis revealed supply chain managers are becoming increasingly concerned with reliable energy sources for the warehouses they operate.
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Of the 1,816 senior executives polled across the globe, 89% said they experienced an energy-related disruption to operations over the past year. The outlook among the group is that energy reliability could be the “next major supply chain crisis.”
“Almost nine in 10 companies experienced energy disruption in the past year, from price volatility to weather-driven outages,” a Monday report said. “Executives are consequently worried about power reliability, with seven in 10 saying they fear outages more than any other disruption.”
Mass adoption of AI technologies and the required buildout of data centers to support them will likely drive a 10% to 50% increase in power requirements over the next five years, 76% of the respondents said.
Eighty-three percent said energy procurement could reach crisis level, however, less than a third currently have backup systems in place. Interestingly, 90% said they would pay premium rates for warehouses with dependable power sources.
“Energy is the new fault line in global supply chains,” said Susan Uthayakumar, chief energy and sustainability officer at Prologis. “A majority of companies faced energy disruptions last year, and most expect their power needs to surge in the years ahead. The companies that solve for energy resilience will be the ones that stay ahead.”
The report flagged other trends that are reshaping supply chains.
Production and distribution are moving closer to the consumer, with 77% of companies already on a path to “regional self-sufficient networks,” and six in 10 expecting a more localized supply chain by 2023.
“Geographic realignment is accelerating toward localized production, aligning around major cities as high consumption centers and labor bases,” the report said. “After decades of chasing the cheapest global labor, companies are reversing course.”
Also, 70% of companies have implemented advanced or transformational AI technologies to improve operations.
While 82% of survey respondents expressed optimism for 2026, they also acknowledged changes in business practices, such as adopting new technology, implementing risk monitoring systems and increasing inventory levels to prevent stockouts.
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This year, TIME has published its first ranking of the World’s Top HealthTech Companies, in partnership with Statista, a leading international provider of market and consumer data and rankings. The ranking aims to highlight health tech companies that drive innovation, enhance accessibility, and contribute to a more effective and sustainable health care system. Here’s how the companies were selected.
The research project “World’s Top HealthTech Companies 2025” is a comprehensive international analysis conducted to identify the most innovative and impactful health technology companies across the globe. The study is based on three key evaluation pillars:
The first dimension, Financial Performance, was assessed through a detailed analysis of financial metrics, such as revenue per employee and funding amount. These metrics provided insight into the financial stability, growth potential, and operational efficiency of the companies. This dimension accounted for 50% of the total score.
The second dimension, Reputation Analysis, evaluated how companies and their digital health solutions are publicly perceived. Using social listening techniques, the analysis captured sentiment, visibility, and perceived credibility by examining publicly available content, such as news coverage, blogs, forums, and social media activity. This dimension contributed 30% to the total score.
The third dimension, Online Engagement, measured the reach and engagement levels of companies through their digital platforms. Website traffic served as the key indicator of user engagement. This dimension made up 20% of the overall score.
Once the data was collected and evaluated, it was consolidated and weighted in a scoring model based on the three dimensions. The final score was calculated from these dimensions, each contributing according to its respective weighting to the overall score. The 400 companies with the highest scores were recognized as the World’s Top HealthTech Companies.
Additionally, each company was categorized into one of the following six HealthTech market segments:
AI & Data Analytics – Companies leveraging artificial intelligence, automation, and data-driven technologies to enhance diagnostic accuracy, personalize treatment plans, streamline administrative processes, and derive insights from health-related data.
Diagnostics – Companies offering digital solutions for medical assessment and early disease detection, including advanced imaging and monitoring technologies.
Medical Devices & Wearables – Developers of connected medical devices and wearable technologies that monitor, track, and manage health parameters in real time, supporting proactive and continuous care for patients and consumers.
Health Information & Management – Providers of secure digital platforms for the storage, management, and exchange of electronic health records, as well as digital tools that enhance clinical workflows and optimize the delivery of healthcare services.
Prevention – Developers of digital applications that promote health and wellness, such as behavioral change apps, preventive health programs, and coaching solutions.
Telehealth & Treatment – Platforms and technologies that enable remote healthcare delivery and support or provide digital medical treatment interventions. This includes virtual consultations, online patient management tools, and digital therapeutics.
See the full list of the World’s Top HealthTech Companies of 2025 here.
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TIME Staff
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Developing accurate and inexpensive ways to diagnose disease also remains a challenge, although a few standout companies such as Fedo, which uses a selfie to assess certain vital signs, and Canary Speech, which uses a person’s voice to detect various cognitive and behavioral disorders, (both marked Outstanding performance in Diagnostics) are making strides using new AI tools. “Voice is the most complex motor function we produce in the body. It’s very, very rich in information,” Canary’s co-founder and CEO Henry O’Connell said at a conference in 2025. “If there is a defect of some kind, whether it’s a cold or whether it’s a progressive neurological disease, all of them impact on the central nervous system’s ability to control and create language.”
Digital health’s primary benefit will be in empowering patients to both learn more about their health, and also to take action to either avoid or manage conditions better. Companies like Oura (marked Outstanding performance in Medical Devices & Wearables) that produce wearable health devices and telehealth entities continue to find new ways to keep people informed and connect to health care providers, as patients demand the same transparency and depth of information that they enjoy in other parts of their lives—retail and transportation to name a couple—in the way they manage their health.
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Alice Park
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Last week, the Trump administration said it might take a stake in Intel in exchange for the $10.86 billion in federal grants the company is receiving from the Chips and Science (CHIPS) Act. However, not all companies receiving funds under the same program will need to give up equity, The Wall Street Journal has reported. Companies like TSMC and Micron that increased their US investments won’t have any additional obligations, according to a government official familiar with the matter.
Ealier, commerce secretary Howard Lutnick appeared to royally screw NVIDIA with comments about the company’s H20 AI chips, and may have also rubbed chip giant TSMC the wrong way. “The Biden administration literally was giving Intel [money] for free, and giving TSMC money for free, and all these companies, just giving them money for free,” he told CNBC on Tuesday. “Donald Trump turns that into saying, ‘Hey, we want equity for the money. If we’re going to give you the money, we want a piece of the action.’”
However, TSMC may have noticed the Intel equity kerfuffle and executives reportedly held preliminary discussions about handing back subsidies if the US government asks to become a shareholder, according to the WSJ‘s sources. TSMC was awarded $6.6 billion for its Arizona plant that started producing chips late last year for Apple and others. However, the company recently said it would invest another $100 billion over the next four years to build three more fabrication plants, two advanced packaging facilities and a major research and development center.
Because of that extra investment, the Trump administration won’t ask for a piece of TSMC or Micron (which also expanded its US facilities in Idaho, New York and Virginia). “The Commerce Department is not looking to take equity from TSMC and Micron,” an unnamed official said.
In any case, attempts by the US government to take equity in companies will likely face legal challenges due to language in the contracts. Companies are already required to share revenue with the US government if profits rise above a certain amount.
In another development, the US government may divert up to $2 billion in CHIPS Act funding toward critical minerals projects in the US, Reuters reported. The move aims to reduce US dependence on China for key minerals extensively used in the electronics and defense industries. “The administration is creatively trying to find ways to fund the critical minerals sector,” Reuters’ source said, adding that those plans could change.
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Steve Dent
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LAWRENCE — Local city councilors are the latest Merrimack Valley elected officials to back Market Basket’s suspended CEO, Arthur T. Demoulas.
“We have seen firsthand the lasting impact of Arthur T.’s values-based leadership, and we respectfully urge the board to take every action possible to welcome him back into a guiding role within the company,” states the letter, dated Sunday, to the Market Basket board of directors.
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By Terry Date | tdate@eagletribune.com
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Changing customer expectations, the dramatic pace of business growth and the emerging risk landscape have meant that Kotak Mahindra Bank has to move at a much faster pace, according to MD & CEO Ashok Vaswani.
“At this stage, it is appropriate to address the recent RBI order. Over the last few years, we had completely embraced the notion that leveraging technology is fundamental to growing the business.
“Towards this, we had significantly stepped up resources and investments in technology. However, it is evident that we have more to do,” said Vaswani in a communication to shareholders. He took charge as MD & CEO of India’s fourth largest private sector bank with effect from January 1, 2024.
The RBI, in its April 24 order, had directed the private sector bank to cease and desist, with immediate effect, from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards.
In its order, RBI said its actions were necessitated based on significant concerns arising out of its IT Examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
Vaswani, in his communication to shareholders, underscored that technology is going to be at the centre of the Bank’s efforts to transform and hence, scale.
“We are absolutely committed to further enhancing our resources and commitments in this area, and I am very confident that collectively, as a team – we will deliver and use this as an opportunity to leapfrog.”
“Equally important while transforming for scale would be to Scale for Relevance and not for the sake of size,” he said.
In the Bank’s last earnings call, Vaswani said: “We take every communication from our regulator very seriously and have complied with the directions with immediate effect.
“…there is absolutely no impact on our existing customers across all channels. We have been seeking guidance from our regulators on building resiliency of our technology platforms and on enhancing the experience for our customers.”
In view of the Order, the Bank has stopped digital onboarding of new customers and fresh issuance of credit cards. This has primarily affected the Bank’s acquisitions in 811 and credit card business.
Vaswani noted that the Bank has developed a plan to mitigate the impact on the aforementioned businesses. The plan focuses on protecting its existing customer base and deepening relationships with them.
Further, the Bank is accelerating the execution of its technology strategy to achieve resilience, appropriate capacity and to meet regulatory data cybersecurity standards.
“We have been on this journey for the last two – three years. We have made a number of very senior hires, significantly augmented the internal tech team and invested heavily in improving our risk and reliance.
“However, our efforts have fallen short of the expectations of the regulator. This, in our view, is on account of #1, that tech changes take time to play out, and #2 demand is growing at an ever increasing pace,” the Kotak Bank Chief said, adding the Bank has stepped up its efforts on both fronts.
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Costco Wholesale Corp. is boosting its membership fees for the first time since 2017, raising the charge for a basic membership to $65 a year from $60.
The 8% price increase for US and Canadian members will take effect Sept. 1, Costco said in a statement Wednesday. The price of the retailer’s premium membership will rise to $130 from $120. The move will affect about 52 million memberships.
Costco shares rose 2.4% at 5:40 p.m. in extended trading in New York. The stock has gained 34% this year through Wednesday’s close, outpacing the advance of the S&P 500 Index.
Investors and analysts have long waited for the Issaquah, Washington-based company to raise its membership price. Costco has typically increased fees every five years or so, prompting analysts in recent quarters to ask about the company’s thinking on the timing.
Executives had said an increase was only a matter of time, and that the company has experienced strong renewal rates, new sign-ups and customer loyalty. On earnings calls, they have acknowledged that an increase has taken longer than usual to materialize.
Jennifer Bartashus, a Bloomberg Intelligence analyst, wrote in a Wednesday note that the fee increase was expected and overdue from Costco’s usual five-year cadence.
“The company delayed an increase amid consumer concerns about inflation and the economic outlook, which have eased some,” she wrote, adding that she expects renewal rates to stay steady after the increase.
US consumers have faced surging prices across the economy in recent years, though increases have started to moderate. Retailers are anticipating inflation will return to more normalized levels of low single digits this year, and have reported drops in some areas, including general merchandise.
Costco’s customer base tends to be more affluent given the company’s membership model, and it has been relatively insulated from the broader pullback in sales growth and discretionary spending across the sector. The company said Wednesday that US comparable sales, excluding gasoline, grew 6.3% in June from a year ago.
Membership income is especially important for Costco, which has used the proceeds to invest in its operations and keep the price of goods down. The higher fees will provide a profit tailwind for Costco, which tries to entice shoppers with low prices on bulk amounts for a relatively narrow assortment of goods. Premium memberships have driven growth, and make up just over half of Costco’s total paid members.
Costco appointed a new chief financial officer earlier this year, hiring Gary Millerchip from Kroger Co. Ron Vachris has served as chief executive officer since January. The company has been adding more stores in the US and overseas, while investing in e-commerce.
The company is following Sam’s Club, owned by Walmart Inc., in raising the price of its membership as US consumers flock to warehouse stores that offer wholesale quantities of goods. Sam’s Club boosted its annual fee to $50 for basic and $110 for premium in 2022, although it used its rewards program to return the extra cost to members during the first year.
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Jaewon Kang and Brendan Case / BLOOMBERG
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German lender Deutsche Bank will be focussing on the digital channel over the branch model to grow its business in the country, a top official said.
Changes in rules by the RBI mandating geographical location restrictions while onboarding customers will be of help, Kaushik Shaparia, chief executive of Deutsche Bank Group, India, told PTI.
“If the regulator were to permit digital access over and above the geographical restrictions, I am convinced we can do more.
“Currently, there are restrictions as to where you can onboard clients, where your locations are, and the customer has to have an office near one of your locations etc,” he said on the sidelines of a bank event here.
When asked about the branch strategy in the country, Shaparia quipped that “geography is history”, and added that the bank’s aim will be to focus more on digital.
“Maybe in the past, having a robust branch strategy was critical but with digitisation, geography has become history. So, I think our approach would be more digital,” he noted.
At present, the bank has 17 branches and one unit at GIFT IFSC in the country. It also relies on the Indian workforce in global capability centres (GCCs) to deliver a host of other innovations and work for its global operations, making India home to the largest number of employees outside of its headquarters in Germany, with over 20,000 professionals.
Shaparia said the GCCs in Mumbai, Jaipur, Pune and Bengaluru support the group’s operations in 48 countries through business engineering, modelling, quantitative analytics, extensive structuring, and research to deliver innovative financial solutions.
It can be noted that many foreign lenders are relying on the digital channel to grow their India business, rather than expanding on branch presence. The regulator has also been pushing for such lenders to operate as a wholly-owned subsidiary rather than the branch model.
Meanwhile, as part of its social commitments under the corporate social responsibility mandate, the lender opened an evening learning centre exclusively for lesbian, gay, bisexual, transgender and queer people for helping the community progress on the formal educational front.
The centre in central Mumbai’s Sion will be followed up with a similar facility in Ghatkopar, and there will be another learning centre in Pune for all the constituents of the society, Shaparia said.
Under its diversity, equity and inclusion focus, the lender also has a defined approach to hiring LGBTQIA+ employees, which includes participating in job fairs and creating awareness through campus engagements.
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Here is a look at the life of former AIG Chief Executive Officer Hank Greenberg.
Birth date: May 4, 1925
Birth place: New York, New York
Birth name: Maurice Raymond Greenberg
Father: Jacob Greenberg
Mother: Ada (Rheingold) Greenberg
Marriage: Corinne (Zuckerman) Greenberg (1950-March 17, 2024, her death)
Children: Jeffrey, Evan, Scott and Cathleen
Education: University of Miami, B.A., 1948; New York Law School, LL.B., 1950
Military: US Army, Captain
Recipient of the Bronze Star for his service during the Korean War.
Awarded the Legion of Honor from France.
Chairman of the Board of The Starr Foundation.
Vice chairman of the National Committee on United States-China Relations.
Member of the board of the Council on Foreign Relations.
1952-1960 – Works for Continental Casualty Company.
1960 – Is hired as a vice president for the insurance-holding company C.V. Starr & Co., Inc.
1968 – C.V. Starr & Co., Inc. begins distributing some the firm’s subsidiaries in order to raise capital to establish American International Group, Inc. (AIG). Greenberg becomes the Chairman and CEO of AIG.
1988-1995 – Director of the Federal Reserve Bank of New York.
1994-1995 – Chairman of the Federal Reserve Bank of New York.
March 2005 – Greenberg resigns as CEO and chairman of the board of AIG.
May 2005 – New York Attorney General Eliot Spitzer files a lawsuit in New York County Supreme Court against Greenberg on behalf of the state, charging him with engaging in fraud to exaggerate AIG’s finances.
2005-present – Chairman and CEO of C.V. Starr & Co., Inc. and Starr International Company, Inc.
September 16, 2008 – The Federal Reserve Bank of New York announces an emergency $85 billion loan to AIG to rescue the company, on the condition that the federal government own 79.9% stake in the company. Greenberg is AIG’s largest individual shareholder before the bailout, with 11% ownership in the company.
April 2009 – The loan expands to $184.6 billion. The government eventually owns a 92% stake in the company.
August 2009 – The Securities and Exchange Commission charges Greenberg for his involvement in the fraudulent accounting transactions that inflated AIG’s finances. Without conceding or denying the SEC charges, Greenberg agrees to pay $15 million in penalties, and AIG settles the charges by repaying $700 million plus a fine of $100 million.
November 21, 2011 – Greenberg and his Starr International Company sue the federal government for $25 billion, claiming the 2008 takeover was unconstitutional. Starr International also sues the Federal Reserve Bank of New York in federal district court in Manhattan.
November 2012 – Greenberg and Starr International’s lawsuit against the Federal Reserve Bank of New York is dismissed. The ruling is upheld in appeals court in January 2014.
January 2013 – Greenberg’s book, “The AIG Story,” is released.
May 2013 – Greenberg’s lawsuit against the federal government achieves class action status. Three hundred thousand stockholders, including AIG employees and retirees, would share the reward if they win the lawsuit.
June 25, 2013 – A New York appeals court rules that the 2005 fraud lawsuit, filed by Spitzer, against Greenberg, will not be dismissed.
July 2013 – Greenberg files a lawsuit against Spitzer in New York’s Putnam County Supreme Court, alleging defamation related to statements he made between 2004 and 2012.
June 25, 2014 – After granting a request by Spitzer to dismiss most of his statements, a judge rules that Greenberg’s defamation lawsuit against him will go to trial.
October 6, 2014 – Greenberg and Starr International’s class action lawsuit against the government officially begins in the Court of Federal Claims in Washington, DC. Closing arguments take place on April 22, 2015.
June 15, 2015 – Starr International wins its lawsuit against the federal government “due to the Government’s illegal exaction,” but the court awards no monetary damages.
February 10, 2017 – Greenberg and the New York attorney general’s office reach a settlement in the 2005 civil fraud lawsuit. Greenberg agrees to pay $9 million, and former AIG Chief Financial Officer Howard Smith agrees to pay $900,000.
September 13, 2017 – The Supreme Court of New York Appellate Division denies summary judgment for several of Greenberg’s defamation charges against Spitzer.
January 15, 2020 – St. John’s University’s presents Greenberg with a Lifetime Leadership Award at its Annual Insurance Leader of the Year Award Dinner. The school also announces that it has voted to rename its School of Risk Management, Insurance and Actuarial Science in his honor. It is now the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science.
November 12, 2020 – A judge in New York’s Putnam County Supreme Court rules to dismiss Greenberg’s defamation case against Spitzer.
January 2023 – The Starr Foundation gifts Georgia State’s J. Mack Robinson College of Business $15 million. Georgia State University announces they will rename its Department of Risk Management & Insurance to the Maurice R. Greenberg School of Risk Science in recognition of the donation.
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Here is a look at the life of Melania Trump, wife of 45th US President Donald Trump.
Birth date: April 26, 1970
Birth place: Novo Mesto, Yugoslavia (now Slovenia)
Birth name: Melanija Knavs
Father: Viktor Knavs
Mother: Amalija (Ulcnik) Knavs
Marriage: Donald Trump (January 22, 2005-present)
Children: Barron
Education: University of Ljubljana, Yugoslavia (now Slovenia)
Changed the spelling of her name from Melanija Knavs to Melania Knauss while modeling professionally.
Speaks six languages: Slovenian, French, Serbian, German, Italian and English.
She is the second foreign-born first lady in US history, after Louisa Adams, the English-born wife of sixth US president John Quincy Adams, who served from 1825 to 1829.
Became a model in Yugoslavia at the age of 16.
She has appeared in magazines such as GQ, Vanity Fair and Sports Illustrated.
1996 – Moves to the United States, heading to New York to work for ID Models.
1998 – Meets Trump at a party at the Kit Kat Club in New York.
2000 – Appears in the Sports Illustrated Swimsuit issue.
March 19, 2001 – Obtains her green card.
July 2006 – Becomes a US citizen.
2010 – Launches her jewelry line, Melania Timepieces and Jewelry, on QVC.
April 2013 – Launches a caviar-based skincare line, Melania Caviar Complexe C6.
July 18, 2016 – Parts of her campaign speech during the 2016 Republican National Convention are alleged to have been plagiarized from a speech delivered by First Lady Michelle Obama at the Democratic National Convention in 2008. A speechwriter working for Donald Trump’s company later assumes responsibility for the similarities in the two speeches.
September 1, 2016 – Files a defamation lawsuit against British newspaper The Daily Mail and the US-based blog Tarpley, accusing them of publishing claims that she was an escort in the 1990s. The Daily Mail and Tarpley both issue retractions.
November 3, 2016 – During a campaign speech in Philadelphia, Trump announces she intends to make ending social media bullying her focus as first lady.
November 20, 2016 – Donald Trump confirms he will live in the White House as president, but says Melania and their son, Barron, will remain in New York initially, so that Barron can finish out the year at the same school.
January 20, 2017 – Becomes first lady of the United States.
February 2, 2017 – A Maryland judge dismisses Trump’s defamation lawsuit against British newspaper The Daily Mail on jurisdictional grounds. Previously, it was ruled that Trump’s lawsuit against blogger Webster Griffin Tarpley will move forward.
February 6, 2017 – Trump’s lawyers refile the defamation lawsuit against British newspaper The Daily Mail. This time it is filed in the Supreme Court of New York where its publisher, Mail Media Inc., has offices.
February 7, 2017 – Trump’s defamation lawsuit against Tarpley is settled.
April 12, 2017 – Trump’s defamation lawsuit against The Daily Mail and Mail Online is settled for $2.9 million.
September 23, 2017 – Trump arrives in Canada for her first solo foreign trip as first lady, traveling to Toronto to lead the US delegation to the Invictus Games. She meets with Canadian Prime Minister Justin Trudeau and Great Britain’s Prince Harry, before attending the opening ceremony of the Paralympic-style games.
March 20, 2018 – At a roundtable event with technology executives, Trump addresses those who have criticized her for taking on a platform that includes cyberbullying saying, “I have been criticized for my commitment to tackling this issue and I know that will continue. But it will not stop me from doing what I know is right.”
May 7, 2018 – Trump announces her formal platform during a ceremony at the White House Rose Garden. The initiative, called “Be Best,” focuses on well-being, combating opioid abuse and positivity on social media.
May 14, 2018 – Undergoes a procedure to treat a benign kidney condition, according to a White House statement.
June 6, 2018 – Makes her first public appearance after the kidney procedure, attending a hurricane season preparedness briefing.
June 17, 2018 – Issues a statement, via her spokeswoman, expressing concern about family separation at the border: “Mrs. Trump hates to see children separated from their families and hopes both sides of the aisle can finally come together to achieve successful immigration reform. She believes we need to be a country that follows all laws, but also a country that governs with heart.”
June 21, 2018 – Visits facilities in Texas that are housing children separated from their parents at the border.
August 9, 2018 – Trump’s parents, Viktor and Amalija Knavs, are granted US citizenship, according to their immigration attorney. They obtain their citizenship through the sponsorship of their adult daughter, one of the categories of family visas that the Trump administration has sought to end.
October 2-6, 2018 – Makes a solo trip abroad, visiting Ghana, Malawi, Kenya and Egypt on a tour of Africa.
January 26, 2019 – British magazine, The Telegraph, issues an apology to Trump for the article titled “The Mystery of Melania,” that included several inaccuracies about her life and her family.
March 5, 2020 – Receives criticism after she shares pictures on social media of the private White House tennis pavilion renovations amidst the coronavirus outbreak.
October 2, 2020 – Donald Trump announces that he and Melania have tested positive for coronavirus.
October 13, 2020 – The Justice Department files a lawsuit against Stephanie Winston Wolkoff, an ex-friend and former adviser to Trump, claiming she breached a confidentiality agreement by publishing a tell-all book. The complaint asserts that neither the first lady, her chief of staff nor the White House counsel’s office received a draft of the book from Wolkoff and that the former adviser never sought authorization to disclose details of her work for the first lady. On February 8, 2021, the Justice Department drops the lawsuit.
December 16, 2021 – Trump announces she is selling an NFT, or a non-fungible token, titled “Melania’s Vision.” The NFT is the first digital art to be sold on her newly launched platform, which will release NFTs regularly and is powered by Parler.
January 4, 2022 – Trump announces an auction of some of her personal items, including a white hat she wore during a visit from French President Emmanuel Macron in 2018, a watercolor painting, and an NFT of the white hat.
April 11, 2023 – The Office of Melania Trump issues a statement after she did not appear at her husband’s court appearance on April 4.
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Here’s a look at Enron, an energy trading company that collapsed after a massive accounting fraud scheme was revealed. Its 2001 bankruptcy filing was the largest in American history at the time. Estimated losses totaled $74 billion.
Enron was ranked as America’s fifth largest company by Fortune magazine in 2002, despite its 2001 bankruptcy filing.
An independent review published in 2002 detailed how executives pocketed millions of dollars from complex, off-the-books partnerships while reporting inflated profits to shareholders.
Executives including Kenneth Lay and Jeffrey Skilling were prosecuted for fraud-related crimes.
Key figures sold their stock shortly before the company announced a sharp downturn in earnings.
Lower-level employees were encouraged to invest in company stock for their retirement savings just before the company collapsed. The workers later filed a class action lawsuit and won an $85 million settlement.
1985 – Houston Natural Gas merges with Omaha-based InterNorth to form Enron.
1986 – Lay is appointed chairman and CEO of Enron.
1989 – Enron enters the natural gas commodities trading market.
1990 – Skilling, an energy consultant, is hired to run a new subsidiary called Enron Finance Corp.
February 12, 2001 – Skilling becomes CEO while Lay stays on as chairman.
August 14, 2001 – Skilling resigns and Lay becomes CEO again.
August 2001 – Sherron Watkins, a vice president, warns Lay that the company could “implode in a wave of accounting scandals.”
October 16, 2001 – Enron announces a third-quarter loss of $618 million. The company later reveals that it overstated earnings dating back to 1997.
October 31, 2001 – The company discloses that it is under formal investigation by the Securities and Exchange Commission.
November 9, 2001 – Enron confirms that it has agreed to be purchased by a rival company, Dynegy for $9 billion. On November 28, Dynegy announces it has terminated merger talks with Enron.
December 2, 2001 – Enron files for Chapter 11 bankruptcy protection.
January 9, 2002 – The US Department of Justice opens a criminal investigation into Enron’s collapse.
January 10, 2002 – Arthur Andersen LLP, the accounting firm that handled Enron’s audits, discloses that its employees had destroyed company documents.
January 15, 2002 – The New York Stock Exchange suspends trading of Enron shares.
January 17, 2002 – Enron ends its partnership with Arthur Andersen.
January 23, 2002 – Lay resigns as CEO. He later steps down from the board of directors.
January 25, 2002 – Former Enron vice chairman J. Clifford Baxter is found dead in an apparent suicide.
February 12, 2002 – Lay invokes his Fifth Amendment right before the Senate Commerce Committee.
March 14, 2002 – The DOJ indicts Arthur Andersen for obstruction of justice. A jury later returns a guilty verdict for the accounting firm. The Supreme Court later overturns the conviction.
February 19, 2004 – Skilling is charged with 35 counts of fraud and insider trading. He pleads not guilty.
July 7, 2004 – Lay is indicted. He is charged with conspiracy, securities fraud, wire fraud, bank fraud and making false statements. During his arraignment the next day, he pleads not guilty to all 11 charges and is released on $500,000 unsecured bond.
May 25, 2006 – Skilling and Lay are convicted of conspiracy and fraud. Skilling is also convicted on one count of insider trading and five counts of making false statements. The jury acquits Skilling on nine additional counts of insider trading.
July 5, 2006 – Lay dies of a heart attack while awaiting sentencing.
September 8, 2008 – A class action lawsuit filed by shareholders and investors is settled in federal court. The $7.2 billion settlement will be paid out by a group of banks accused of participating in the accounting fraud scheme.
May 11, 2009 – Skilling files a petition with the Supreme Court to overturn his conviction after appeals with the lower courts fail.
May 9, 2010 – “Enron,” a musical about the company’s collapse, closes on Broadway 12 days after opening amid slow ticket sales.
April 16, 2012 – The Supreme Court rejects Skilling’s appeal.
June 21, 2013 – A federal judge reduces Skilling’s sentence by more than 10 years. In return, Skilling agrees to stop challenging his conviction and forfeit roughly $42 million that will be distributed among the victims of the Enron fraud.
December 8, 2015 – The SEC announces that it has obtained a summary judgment against Skilling, permanently barring him from serving as an officer or director of a publicly held company. The judgment settles a long-running civil suit by the SEC.
February 21, 2019 – Skilling is released after serving over 12 years in federal prison.
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Here’s a look at the life of Bill Gross, founder of PIMCO, Pacific Investment Management Company.
Birth date: April 13, 1944
Birth place: Middleton, Ohio
Birth name: William Hunt Gross
Father: Sewell “Dutch” Gross, a steel company sales executive
Mother: Shirley Gross
Marriages: Amy Schwartz (2021-present); Sue (Frank) Gross (1985-2017, divorced); Pamela Roberts Gross (divorced)
Children: with Sue Frank: Nick; with Pamela Roberts: Jeff and Jennifer
Education: Duke University, B.A. in Psychology, 1966; University of California at Los Angeles, M.B.A, 1971
Military: US Navy, 1966-1969
Billionaire, bond investor, philanthropist and avid stamp collector.
Founder, former co-chief investment officer and managing director of PIMCO, one of the world’s largest mutual funds. Under Gross, PIMCO became the world’s largest bond fund manager.
1966 – While recuperating from injuries suffered in a serious car accident, Gross teaches himself to count cards in blackjack. After college graduation, he turns $200 into $10,000 in four months.
1971 – Is hired as a junior bond analyst for Pacific Mutual Insurance Company.
1971 – PIMCO is formed as a division of Pacific Mutual with colleagues William Podlich and James F. Muzzy.
1985 – PIMCO formally splits from Pacific Mutual.
2003 – Founds the William and Sue Gross Family Foundation, through which millions of dollars are donated to universities, hospitals and organizations.
2005 – Gross and his wife, Sue, give $23.5 million to Duke University for undergraduate and medical school students and for the Fuqua School of Business.
2006 – Donates $10 million to the University of California at Irvine for stem cell research and to help build a new research lab. The lab opens in 2010 and is named in their honor, Sue and Bill Gross Stem Cell Research Center.
2007 – A stamp collector since childhood, Gross auctions his collection of British stamps for $9.1 million and donates the proceeds to Doctors Without Borders.
2009 – Donates $8 million for the establishment of a stamp gallery at the Smithsonian’s National Postal Museum in Washington, DC. The gallery is named in his honor, the William H. Gross Stamp Gallery, and opens in September 2013.
September 2014 – Gross unexpectedly resigns from PIMCO to join Janus Capital Group, where he manages the Janus Unconstrained Bond Fund.
July 1, 2015 – The Smithsonian Institution includes Gross’s old Bloomberg keyboard in its American Enterprise exhibition at the National Museum of American History. The keyboard, used by Gross during the 1990s and 2000s, has function keys for accessing real-time financial information.
October 8, 2015 – Gross sues former employer PIMCO for hundreds of millions of dollars, alleging he was wrongfully ousted from the firm as part of a vast conspiracy. The lawsuit claims a “cabal” of PIMCO executives driven by a “lust for power, greed” and self-interest plotted for Gross’s demise. On March 27, 2017, Gross and PIMCO announce they reached an “amicable settlement.”
February 4, 2019 – Announces he will retire. Janus Henderson (formerly Janus Capital Group) says he will leave the firm on March 1.
October 13, 2020 – Gross and his partner Amy Schwartz sue their neighbors, Mark Towfiq, CEO of data center development company Nextfort Ventures, and his wife Carol Nakahara. Towfiq and Nakahara file a countersuit the next day, on October 14. According to court filings, Gross and Schwartz installed a large art installation along the property line, partially blocking Towfiq and Nakahara’s ocean views. After an investigation, the city of Laguna Beach determined the installation, netting and lights were a violation of city code and did not have the proper permits. Shortly after, Towfiq and Nakahara allege Gross began retaliating against them by harassing and disturbing them with “loud music and bizarre audio recordings at excessive levels” during various hours of the day and night – including pop or rap music, and often a series of television theme songs, according to the lawsuit, including the “Gilligan’s Island” theme on a loop.
October 1, 2021 – Gross and his wife are found guilty in contempt of court after violating a 2020 order that prohibited them from playing loud music outside their home. The two are fined $1,000 each and face five days in jail as well as a ban on outdoor music. Due to the Covid-19 pandemic, however, their jail sentences are suspended and replaced with two days of community service.
March 2, 2022 – Self-publishes his memoir “I’m Still Standing: Bond King Bill Gross and the PIMCO Express.”
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Here is a look at the life of former late-night talk show host David Letterman.
Birth date: April 12, 1947
Birth place: Indianapolis, Indiana
Birth name: David Michael Letterman
Father: Harry Letterman, florist
Mother: Dorothy (Hofert) Letterman Mengering
Marriages: Regina Lasko (March 19, 2009-present); Michelle Cook (divorced)
Children: with Regina Lasko: Harry Joseph
Education: Ball State University, B.A., 1969
Letterman is the founder of the production company Worldwide Pants, which produced “Late Show with David Letterman.”
Is a co-owner of Rahal Letterman Lanigan Racing.
Letterman has been nominated for 50 Emmy Awards and won five.
“Late Night with David Letterman” was nominated for 25 Emmy Awards and won three.
“Late Show with David Letterman” was nominated for 76 Emmy Awards and won nine.
“My Next Guest Needs No Introduction with David Letterman” has been nominated for four Emmy Awards.
1969 – Begins working as an announcer and weekend weatherman at WLWI (now WTHR), an ABC affiliate in Indianapolis, Indiana.
1975 – Moves to Los Angeles and begins performing stand-up at the Comedy Store. Later he is hired by Jimmie Walker, star of the CBS sitcom “Good Times,” as a writer.
1978 – Appears on Mary Tyler Moore’s variety show, “Mary.”
November 1978 – Makes the first of 22 appearances on “The Tonight Show” hosted by Johnny Carson. Letterman also serves as a guest host on “The Tonight Show” several times.
June 23, 1980-October 24, 1980 – Hosts “The David Letterman Show,” a daytime talk show on NBC.
February 1, 1982-June 25, 1993 – Hosts “Late Night with David Letterman” on NBC.
September 23, 1984 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.
September 18, 1985 – Premiere of the “Top Ten” list.
September 22, 1985 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.
September 21, 1986 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.
September 20, 1987 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.
May 1992 – Carson announces his retirement and speculation begins that Letterman will replace him.
January 1993 – After it is announced that Jay Leno will take Carson’s place, Letterman announces he will be leaving NBC for CBS, and expresses anger over what he regards as NBC’s poor treatment of him.
August 30, 1993-May 20, 2015 – Host of “Late Show with David Letterman.”
September 11, 1994 – Wins the Emmy for Outstanding Variety, Music Or Comedy Series.
March 27, 1995 – Hosts the Academy Awards.
January 14, 2000 – Letterman undergoes quintuple bypass surgery.
September 17, 2001 – Is the first late-night talk show host to return to air after the September 11 terrorist attacks. Instead of starting the show with a humorous monologue, Letterman mourns those lost and praises the city’s firefighters and police officers. His first guest, CBS anchor Dan Rather, breaks down in tears during the broadcast.
March 31, 2003 – Letterman returns to his show after being out for nearly a month due to shingles.
March 17, 2005 – Kelly Frank, a house painter who worked on Letterman’s Montana ranch, is charged with plotting to kidnap Letterman’s son for ransom. In September, Frank pleads guilty to a lesser charge and is sentenced to 10 years in prison. In 2007, he escapes, but is later recaptured.
October 1, 2009 – Letterman admits on air that he has had sexual relationships with female staff members and that someone has been attempting to blackmail him over the affairs.
October 5, 2009 – Letterman apologizes to his wife and female staffers in front of a live studio audience.
March 9, 2010 – Robert “Joe” Halderman, a former CBS News producer accused of trying to blackmail Letterman, pleads guilty to attempted second-degree grand larceny and is sentenced to six months in jail, five years’ probation and 1,000 hours of community service. In September, Halderman is released after serving four months of his six-month prison sentence.
April 2012 – Extends his contract with CBS through 2014.
December 2, 2012 – Is honored at the Kennedy Center Honors gala along with Buddy Guy, Dustin Hoffman, Natalia Makarova and the musical group Led Zeppelin.
October 4, 2013 – Extends his contract with CBS through 2015.
April 3, 2014 – During a taping of “The Late Show,” Letterman announces that he will be retiring in 2015.
May 20, 2015 – Tapes his final show. Counting his work on both NBC and CBS, this is show number 6,028 for Letterman.
October 30, 2016 – Letterman’s segment on climate change for the “Years of Living Dangerously” series airs on the National Geographic Channel. The episode follows Letterman as he travels around India discussing India’s zealous renewable energy plan.
October 22, 2017 – Is awarded the Mark Twain Prize for American Humor.
January 12, 2018 – In the debut of his new Netflix series “My Next Guest Needs No Introduction,” Letterman interviews former US President Barack Obama. Guests scheduled for the rest of Letterman’s shows include George Clooney, Malala Yousafzai, Jay-Z, Tina Fey and Howard Stern.
February 1, 2022 – “Late Night” host Seth Meyers welcomes Letterman to help celebrate the show’s 40th anniversary.
December 12, 2022 – Letterman’s interview with Ukrainian President Volodymyr Zelensky for “My Next Guest Needs No Introduction” debuts on Netflix. Letterman traveled to Kyiv for the wartime interview, which took place in an underground subway station.
‘Late Show with David Letterman’: Our top 10 moments
November 20, 2023 – Returns to his former studio for the first time as a guest on “The Late Show with Stephen Colbert.”
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Here’s a look at Apple, Inc, creator of the Mac computer and the iPhone.
The corporate headquarters are in Cupertino, California.
As of September 2023, the company reported that it employs approximately 161,000 people full-time.
April 1, 1976 – Apple Computers, Inc. is founded by Steve Jobs and Steve Wozniak. Their first product is the Apple I personal computer.
June 1977 – The Apple II is released.
December 1980 – Apple conducts an initial public offering of 4.6 million shares at $22 per share.
January 1983 – Apple introduces the Lisa, a new brand of personal computer.
January 22, 1984 – The Macintosh computer is introduced with a futuristic commercial that airs during the Super Bowl.
1985 – Apple discontinues the Lisa after a disappointing run, and Jobs leaves the company.
December 1996 – Apple buys Jobs’ company, NeXT Software.
1997 – In the wake of corporate shakeups and a sales slump, Apple welcomes Jobs back as interim CEO.
August 15, 1998 – The iMac, a streamlined personal computer, debuts.
January 2000 – Jobs becomes permanent CEO.
January 9, 2001 – iTunes is introduced.
October 23, 2001 – The iPod MP3 player makes its debut.
January 2003 – Apple releases the Safari web browser.
April 28, 2003 – Apple introduces the iTunes Music Store.
January 2006 – Apple rolls out its first Intel-based computers, the iMac and the MacBook Pro.
January 9, 2007 – The iPhone is unveiled.
March 2007 – Apple TV hits stores.
January 27, 2010 – The iPad is announced.
June 6, 2011 – Apple announces iCloud, an online media storage system.
August 24, 2011 – Jobs resigns as CEO. Tim Cook takes his place.
October 5, 2011 – Jobs dies after battling cancer.
February 6, 2013 – Apple announces that iTunes has reached a milestone of 25 billion songs sold.
May 28, 2014 – Apple announces deal to buy Beats for $3 billion.
June 9, 2014 – Apple conducts a stock split, bringing the price down from $647.50 to $92.44.
September 9, 2014 – Apple unveils the Apple Watch, a wearable device.
December 16, 2014 – Apple wins an antitrust lawsuit brought by eight million iPod owners who alleged that Apple abused its monopoly power in the music industry to force out competition.
June 8, 2015 – Apple unveils Apple Music, a streaming music service, live radio station and social network.
February 3, 2016 – A jury orders Apple to pay $626 million in damages after finding that iMessage, FaceTime and other Apple software infringed on another company’s patents. The lawsuit, originally filed in 2010 by the company VirnetX, accuses Apple of violating four patents, which mostly involve methods for real-time communications over the Internet.
February 16, 2016 – Apple refuses to comply with a California judge’s order to assist the FBI in hacking the iPhone of the San Bernardino gunman. A public letter signed by Cook states why the company is refusing to abide by the government’s demands.
March 28, 2016 – The Department of Justice says the FBI has “successfully retrieved the data stored on the San Bernardino terrorist’s iPhone,” and is dropping the case against Apple, since it no longer needs the company’s help.
August 30, 2016 – The European Union rules that Apple must pay Ireland $14.5 billion in back taxes. According to the EU, Ireland had been giving the tech company a break on taxes for more than two decades. Ireland’s finance minister issues a statement criticizing the EU’s ruling and declares that the country does not play favorites with a lower tax rate for certain companies. In a letter, Cook says he anticipates the EU’s tax ruling will be reversed on appeal.
September 12, 2017 – Apple unveils the iPhone X, alongside the iPhone 8 and iPhone 8 Plus – all of which support wireless charging. The iPhone X will also feature facial detection technology, no home button, a 3D camera and an edge-to-edge screen.
December 21, 2017 – Apple issues a statement saying that it has used software updates to limit the performance of older iPhones that may have battery issues that would cause them to turn off suddenly.
December 28, 2017 – Apple apologizes to customers for how it rolled out an update that can slow down older iPhones. It is offering cheaper battery replacements to make up for it.
June 15, 2018 – Oprah Winfrey signs a multiyear deal with Apple to create new original programming.
August 2, 2018 – Apple becomes the first American public company to surpass $1 trillion in value.
October 10, 2019 – In a memo to employees, Cook defends Apple’s decision to pull a map app that Hong Kong protesters used to track police, saying that it had been used in ways that “endanger law enforcement and residents in Hong Kong.”
November 1, 2019 – Apple TV+, a subscription streaming service containing original programming, launches.
November 4, 2019 – Apple announces a $2.5 billion financial package to help address the housing crisis in California, which has worsened in part because of the rapid growth of tech companies.
July 29, 2020 – Cook, Amazon CEO Jeff Bezos, CEO of Google’s parent company Sundar Pichai and Facebook CEO Mark Zuckerberg all testify before a House subcommittee on anti-trust to address concerns that their businesses may be harming competition.
August 20, 2020 – Apple reaches the $2 trillion market value mark.
November 18, 2020 – Apple agrees to pay $113 million to settle an investigation by states including California and Arizona over how Apple wasn’t transparent about its iPhone battery problems that led to unexpected device shutdowns.
December 14, 2020 – Launches Apple Fitness+, a service built around Apple Watch.
November 23, 2021 – Apple files a lawsuit against NSO Group and its parent company, accusing the Israeli firm of violating a federal anti-hacking law by selling potent software that clients have used to spy on Apple customers. The lawsuit alleges that NSO’s spyware, known as Pegasus, and other malware have caused Apple monetary and property damages, and violated the human rights of Apple users along the way.
January 3, 2022 – Apple becomes the world’s first company valued at $3 trillion.
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CNN
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Here’s a look at the NCAA Division I Men’s Basketball and Women’s Basketball Tournaments. The single-elimination tournament is nicknamed “March Madness” or “The Big Dance.”
April 8, 2024 – Men’s Finals – The national championship game is scheduled to be played in Glendale, Arizona.
April 7, 2024 – Women’s Finals – The national title game is scheduled to take place in Cleveland.
April 3, 2023 – Men’s Finals – The University of Connecticut Huskies win its fifth men’s basketball national title with a 76-59 victory over the San Diego State University Aztecs in Houston.
April 2, 2023 – Women’s Finals – The Louisiana State University Tigers defeat the University of Iowa Hawkeyes 102-85 in Dallas, to win the program’s first NCAA women’s basketball national championship.
68 teams are invited to compete.
– 32 teams receive automatic bids by winning their conference tournaments.
– 36 teams receive an at-large bid from the NCAA Selection Committee.
The 12-member selection committee, comprised of athletic directors and conference commissioners, is responsible for selecting the 36 at-large teams, seeding (or ranking) all 68 teams and placing them in one of four regions within the bracket. The committee’s field of 68 is revealed on the Sunday before the four first-round games, appropriately dubbed “Selection Sunday.”
The selection committee primarily uses the NCAA Evaluation Tool (NET) rankings, which is comprised of Team Value Index (TVI), or wins against quality opponents, and an adjusted net efficiency across all games. The NET replaces the Ratings Percentage Index.
68 teams are invited to compete.
– 32 teams receive automatic bids by winning their conference tournaments.
– 36 teams receive an at-large bid from the NCAA Selection Committee.
Similar to the men’s selection process, a 12-member selection committee primarily uses NET rankings to choose the 36 at-large teams, seed (or rank) all 68 teams and place them in one of four regions within the bracket.
The committee’s field of 68 is revealed on the Sunday before the four first-round games.
The “First Four” are the four opening round games in the Men’s tournament. Two games match number 16 seeds against each other, and the other two games feature the last four at-large teams selected into the tournament. The winners advance to the next round, the round of 64.
For both the men’s and women’s tournaments, each of the four regions consists of 16 teams that are seeded No. 1 to No. 16. In the first round, teams are paired according to seed. The No. 1 seed faces No. 16, No. 2 faces No. 15, No. 3 faces No. 14, and so forth. The winning teams advance to the second round.
The 16 teams that advance beyond their first and second-round games are referred to as the “Sweet Sixteen.” The remaining eight teams are called the “Elite Eight,” and the last four teams are the “Final Four.”
An underdog or lower-seeded team that advances throughout the tournament is often referred to as a “Cinderella” team.
The University of California, Los Angeles (UCLA) Bruins have the most NCAA Division I Men’s Basketball Tournament titles with 11.
The University of Connecticut (UConn) Huskies have the most NCAA Division I Women’s Basketball Tournament titles with 11.
1939 – The first men’s tournament is held, and eight teams compete. Oregon defeats Ohio State 46-33.
1954 – The tournament final is broadcast live nationwide for the first time.
1982 – The first women’s tournament is held, and 32 teams compete. Louisiana Tech beats Cheyney State 76-62.
1991 – CBS begins broadcasting all games live.
1999 – CBS obtains an 11-year contract through 2013 worth $6 billion to broadcast the tournament.
2005 – College Sports Television begins a two-year agreement with CBS Sportsline.com and the NCAA for exclusive video streaming rights on CSTV.com for out-of-market game coverage. CSTV pays CBS $3 million for the rights and expects to be profitable in the first year.
April 22, 2010 – In addition to expanding the men’s tournament basketball field to 68 teams from 65, the NCAA announces a 14-year, $10.8 billion television rights deal with CBS and Turner Sports. The deal, which goes into effect in 2011, marks the first time that each game will be televised nationally.
April 12, 2016 – The NCAA announces an 8-year extension of its TV deal with Turner Broadcasting and CBS Sports. The extension to the current deal – for a combined total rights fee of $8.8 billion – will keep the big game at Turner and CBS until 2032.
February 20, 2018 – The NCAA Infraction Appeal Committee announces they will uphold penalties against the Louisville Cardinals Men’s Basketball team for their serious violations of NCAA rules. The Committee panel found that they “acted unethically….by arranging striptease dances and sex acts for prospects, student-athletes and others, and did not cooperate with the investigation.” The penalties vacate every win from 2011 to 2015, including the 2013 national championship and the 2012 Final Four appearance.
August 22, 2018 – The NCAA announces a new ranking tool, the NET (NCAA Evaluation Tool). It replaces RPI, or the ranking performance index, as the method which will be used to choose which teams will be selected to participate in the tournament.
March 12, 2020 – NCAA President Mark Emmert and the Board of Governors cancel the men’s and women’s Division I basketball tournament, and other winter and spring NCAA championships, due to concern over the Covid-19 pandemic. The Division I championships have been played every year since the men’s inception in 1939 and women’s in 1982.
January 4, 2021 – The NCAA announces that the entire 2021 NCAA men’s basketball tournament will be played in the state of Indiana, with the majority of the 67 scheduled games to be played in Indianapolis.
February 5, 2021 – The NCAA announces that the entire 2021 NCAA women’s basketball tournament will be played in Texas, with the majority of the 63 scheduled games to be played in San Antonio.
September 29, 2021 – After a “comprehensive external review of gender equity issues,” the NCAA announces that beginning in 2022, the “March Madness” branding that has historically been used for the Division I men’s basketball tournament will also be used for the women’s basketball tournament.
November 17, 2021 – The expansion of the women’s tournament bracket is approved. Sixty-eight teams will participate in the 2022 championship, up from 64.
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