The Dr. Doug Ramsey Show - 20240707

Episode Transcript

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The opinions and information expressed and discussedon The Doctor Doug Ramsey Show or for
informational and educational purposes only. Itis not intended to provide, and should
not be relied upon for accounting,legal, tax or investment advice. Please
consult with a professional specializing in theseareas regarding the applicability of this information to
your situation. All things financing businessleading you to success at work, at

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home and in live. It's theDoctor Doug Ramsey Show and now here's your
host, Doctor Doug Ramsey. Welcometo the Doctor Doug Ramsey Show. I'm
your host, Doctor Doug Ramsey,broadcasting on the Mojo Fibo Radio Network.

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Well, I hope everybody had agreat fourth of July and then your weekends
finishing strong. This past week cameacross some interesting articles, a little bit
off the beaten path of traditional businessissues, but I thought they'd be worth
talking about. Nonetheless, So thisfirst one, it was asked a question

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posed by somebody on Reddit, andthis comes from BuzzFeed from Sunday, June
thirtieth, and it says a littlewhile ago, Reddit user u forward slash
lord free as an eight seven eightnine pose the question redditors who have actually
won a lifetime supply of something?What was the supply you won and how

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long did it actually last? Greatquestion, and there were some a number
of responses and they kind of rankedthem in the kind of a top ten

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or so here article. But here'sthe first one that says, my mom
almost ate the white eminem that theypromoted like twenty five years ago. If
you found it, you'd send itin and get a lifetime supply of Eminem's.
They sent us a voucher pack thatalmost no store would take. We

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managed to make it through the lifetimesupply in about one month. Granted there
were eight siblings probably for the bestthough, so yeah, pretty big family,
but they basically had held the lifetimesupply in record. Tom Oh,
here's another response. When I wasa little kid, my family and I

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moved to a new city and atfirst or second night there, we decided
to try a new Chinese restaurant nearby. We didn't realize it was the inaugural
evening. There weren't very many customers, yet the owner waited on us himself,
and he was very sweet and friendly, had just immigrated from China recently.

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He gave my family a voucher toeat there for free for life,
since we were one of the fewpeople actually show up that night. I
remember it was a big golden ticket, like Willie Wonka's. Sadly, the
restaurant closed within a year. Ialways wonder how he's doing. My family
was very poor back then and wewould go there every month, which felt

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special. I'm sure it wasn't thegreatest Chinese food in the world, but
I still remember how the orange chickentasted. Yeah, that's one thing about
these lifetime promotions is the company's stillgoing to be around for your entire lifetime.
It's like anything. It's like acompany's warranty, your guarantee. Mean,

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you gotta really watch it. Imean, companies a market the heck
out of it. You know,lifetime guarantee, lifetime warranty. But if
the company goes under of it's asgood as not having a warranty at that
point or having a guarantee. Soalways ask yourself what you think the stability

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of the company is going to beten, fifteen, twenty years down the
road. All right, here's thethird response. About eighteen years ago,
we won a lifetime of VET visitsand it's for routine checkups for my cat.
They expected to give it to someonewith an old pet, not a
new kitten. The cat's still alive. The vent clinic has moved and rebranded

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four or five times, but they'restill honoring the award. Well that's pretty
good. A lot of times whenownership changes hands, people won't honor the
obligations of the previous owners. Sothat's pretty solid there. All right,

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here's the fourth response. My fatherplayed a game on teletext back in the
day and he won a lifetime supplyof some beer. However, they cheated
him and only sent him a partykeg. My dad was a programmer,
so he wrote a program that playedcards for him on teletext. If the
program was about to lose because ofbad cards, it quit the channel logged

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in again automatically for the next run. The program was playing day and night,
and after some weeks it won severalTV sets, video cameras, cruises,
you name it. Eventually, theorganizer of the game walk my father
out, which was illegal, sohe sued the company that organized the game
and reached an agreement. They paidhim amount of about ten grand and he

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never played again. So instead ofa lifetime supply of beer, he got
a lot of stuff. And thisis why I, as a teenager,
had my own video camera, whichat this time was so expensive that people
had to lease them. All right, pretty smart dad there, all right?

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Next response, I want a lifetimesupply mini chocolate milk cartons. During
a milk day at school, ifyou opened a cart and of milk and
it mood at you, you hadto call the number on it and report
that you had mooning milk. Thatwas in two thousand and seven. I'm
still getting milk shipped to me.Lol. My fiance drinks it. Because
I've grown up or grown to hatemilk. Well, they're still shipping it.

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That's it's pretty good. Response six. I won a lifetime of free
oil changes for my car. Itwas during a sale the dealership had where
you took a photo with your petthe person who most resembled a pet.
One. I don't know if Ishould feel happy or concerned about that one.

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They failed. The mentioned was thatit was lifetime oil changes for the
vehicle I had, and I couldn'ttransfer it to anyone else. So when
my dad took over my car loan, they dropped that little tidbit of info
on us. It only really lastedme for about two oil changes. Oh

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the fine print gets you every time. All right, there's another response.
I won free full body massages forlife, which basically translated to two massages
per week. It was really good. I got addicted. I knew everyone
who worked there, and I gotto experiment with all of them to see
who was the best. I endedup fluctuating between three different staff Towards the

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end. They would even train newstaff on me for free because I spent
so much time over there. Thosetraining massages never cost me anything either,
or kind of towards my two freemassages per week limit. Man, that'd
be fantastic. All right, here'sanother one. My parents won at a

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fair when I was in high school. They won what was advertised as a
lifetime supply of ice cream sandwiches.They ended up giving us one hundred boxes
all at once, right there ona warm July day. My mom was
only able to collect at the endof the day, so there weren't even
that many people to hand them outto. We got home and had about

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sixty left. After giving away asmuch as possible and throwing out what didn't
fit in our freezer. I playedlots of sports, so I ate a
lot. My parents said I couldeat as much as I wanted, anytime
I wanted. Went through sixty boxesin a couple of months. Probably gained

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a bunch of weight too. Allright. Next, this happened in the
late nineties. The local bar rana wet T shirt contest with the woman
who won when a lifetime of freedrinks at the bar. They also had
cash prizes for second and third place. I don't remember how much, but
it was a lot at the time. The result was a packed bar.

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Tons of women entered and tons ofguys spent money. My friend's girlfriend at
the time now his wife one firstplace. She was stoked. Within a
couple of weeks, the building wascondemned and torn down. Turned out the
owners of the bar knew that thebuilding was going to be condemned and just
wanted to have one last party.That's great, What a story. All

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right, here's the next one.I won the cash for life one thousand
dollars per week lottery about ten yearsago. Every year I send them proof
I'm still alive, and they sentme a check for fifty two thousand dollars
in the mail. Holy moly,that is amazing. So ten years in

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fifty two grand a year, justgotta show him that he's still fogging up
the mirror, all right. Here'sanother one. It's a consolation prize for
losing on a TV game show.I was giving a popcorn popper, a
little girl's bicycle and a lifetime supplya beef stew. Gave the popcorn popper

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as a Christmas president and sold thebike. When the beef stew arrived,
it was one case of twelve cans. After trying the first can, I
realized that the other eleven would indeedlast me a lifetime. Oh my gosh,
whatever response. My dad won alifetime supply a cat food, but

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they delivered it all at once andour cats didn't like that flavor. Of
course, we donated all to alocal animal shelter that was super pleased.
Here's another one. I won alifetime supplied donuts up to a dozen per
day at a local bakery and thatlasted two years until the original owner died
and as Ahole's son took over thebusiness. Oh I think we know how

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that one ended. Back in nineteenseventy seven, when I was thirteen years
old, I won a contest fora lifetime supply of car models from Revel.
Semi truck pulled up to our housein a very quiet suburban neighborhood and
proceeded to unload four pounds of plasticmodels in the driveway. There were one
hundreds of models, probably one ofeverything they offered in their catalog at the

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time, kept about two dozen,which kept me busy for years. So
my father helped by finding a localretail hobby store to buy the rest of
them at a very favorable price sowe could just get rid of them.
He put the money into US savingsbonds for me, which I cashed how
many years later to use for adown payment on my first new car.

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Well, that's cool, good story, Their teaching a little responsibility. At
the same time, I won freegroceries for life at my local grocery store
in a raffle. They give mea digital one hundred dollars gift card once
a month, which is wonderful.However, it doesn't even cover a week

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at groceries. It will end whenthe total given has reached ten grand.
Got about four thousand dollars left.That's not a bad one. Put a
little den in the grocery bill.Ten grand's a that's a good chunk of
change there. I stepdad one alifetime supply at WD forty in the nineties.

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They sent him four sixteen ounce cans. He died in twenty nineteen,
and my mom still has two cans. How is that a lifetime supply?
Four sixteen ounce cans. Let's seewhat else we got. I think there's

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a few others, but all right, here's the flash. What I'm gonna
do. In high school, Icalled the radio contest and was the one
and fifth collar to call in andanswer a trivia question. I answered it
Ryan and got a lifetime supply ofice cream, which turned out to be

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a monthly cupon for a gallon.Continued throughout high school, and then when
I went away from college. Myparents didn't keep up with it. That
was so long ago. I'm fifteennow. It was really fun and exciting
at the time, though I almostwrote my college application essay about it,
but my school counselor gently got tome in a better direction. Yeah,

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all right, mod Pizza. Youmay heard the news. It is pending
I'm not sure if it's getting filedlater today or not. So This is
from the Daily Mail from July third. Popular Nation White pizza chain set to

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file for bankruptcy in days, sparkingfears it's five hundred restaurants could close.
Popular pizza chain is the latest toface money problems in the face of rising
costs of falling customer numbers. ModPizza is preparing to file for bankruptcies early
next week, sources told Bloomberg onWednesday. The plans are not finalized and

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could still change. The person familiarwith the matter said, we're working diligently
and to improve our capital structure andare exploring all options to do so.
In Mod Pizza spokesperson said an emailstatement. My Pizza, known for its
custom of personal pizzas and salads,has more than five hundred locations across twenty

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eight US states. It had alreadyshut twenty six in the first three months
of the year. Boss Is saidat the most recent quarterly earnings. My
Pizza was foundered in two thousand andeight in Seattle and soon expanded in Washington

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and then across America. It hasthe most locations in Texas at one hundred
and thirteen. The next most arein its home state, Washington was seventy
two every in Oregon, it hasthirty two in California, further down the
coasts forty six. The company receiveda one hundred fifty million dollars investment from
Clayton to Billy A and Rice.I'm pronouncing that in twenty nineteen, and

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it also filed paperwork for an initialpublic offering in twenty twenty one. Restaurants
have increased and we've been struggling thisyear. They have been putting up prices
over the past two years as theypass on higher cost to customers, but
these price sikes have led to afallen visitors. Bigger chains like Applebee's TGI

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Fridays in Boston Market have all recentlyshuttered restaurants, as have smaller chains like
Burgerfly. Chains have been worse hitin California, where the minimum wage for
fast food restaurants jumped to twenty bucksan hour from April first. In early
June, Mexican chain Rubios shut fortyeight locations in the state and also file

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for bankruptcy. Two weeks ago.It emerged that almost one hundred fifty pizza
Hut restaurants are set to close dueto ongoing financial disputes with one of its
major franchisees. June fourteenth saw theabrupt shuttering of fifteen locations in Indiana,

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left staff and customers stunned. Furtherone hund and twenty nine across Illinois,
Georgia, South Carolina, Wisconsin areon the brink of shutting as part of
the dispute. Get a pizza frommodd Pizza. We got one by the
house. I'll get one periodically,but pretty good. Actually, all right.

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The NFL. This is from theAP from July third. NFL is
liable for four point seven billion dollarswith a B in Sunday the Sunday ticket
case. So what are we talkingabout? It's a huge number, says

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the damages. A federal jury hasordered the NFL to pay for violating antitrust
laws and distributing out of market Sundayafternoon games on a premium subscription service.
Is four point seven billion. Thefigures from the June twenty seventh judgment against
the NFL were listed on the verdictform, which is posted on the case

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dock at Tuesday. The lawsuit coveredtwo point four million residents residential subscribers and
forty eight thousand businesses in the USwho paid for the package on DIRECTDV of
out of market games from twenty eleventhrough twenty twenty two seasons. The lawsuit

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claimed the league broke out of trustlaws by selling the package and an inflating
price. Subscribers also say the leaguerestricted competition by offering Sunday ticket only on
a satellite provider. So the jurycomposition said jury of five men and three

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women found the NFL liabel for fourpoint six billion in damages to the residential
class that's the home subscribers, andninety seven million dollars in damages to the
commercial class, which are the businesssubscribers. Since damages can be tripled under
federal antitrust laws, the NFL couldend up be liable for fourteen point one

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billion dollars if they triple it.Ohly, shit, damages could be spread
equally among the thirty two teams.We mean each team could owe four hundred
and forty one point three million dollars. During deliberations, the jury requested data
on the number of subscribers each yearthe class action, as well as the

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cost of each type of Sunday ticketsubscription. Jury also asked for the reports
that for economists who testified on behalfof the plaintiffs in the NFL produced,
Those were not admitted as evidence.Judge Philip Guteris is scheduled to hear post
trial motions on July thirty first,including the NFL's request to have him rule

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in favor of the league by determiningthe players did not prove their case.
The NFL has said it would appeala verdict. That appeal would go to
the Ninth Circuit Court of Appeals andthen possibly the Supreme Court. Payment of
damages and he changes to the Sundayticket package and or the ways the NFL

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carries its Sunday afternoon games would bestayed until all appeals have been concluded.
All right, this is from beingindependent from Friday, July fifth, just

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a couple of days ago, andit's just one story about somebody getting scammed
to gonna be true if you don'trecognize who's making inquiries. If you see

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that the inquiry is not the wayit's typically come in from to you,
from a bank or other service provider, tear it up and throw in the
trash. Don't get sucked into thesethings. They want you to engage and
then they start working your emotions.So what's the story about. A seventy

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five year old woman claims she wasscammed out of nearly you one hundred and
twenty five thousand dollars by someone posingit Steve Perry, the former lead singer
of the rock band Journey, accordingto reports, Now, why would Steve
Perry, who's probably got plenty ofmoney, want your money. The septagenarian

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resident told Westlake, Ohio police onJune twenty seventh that she had exchanged Facebook
messages with someone claiming to be Perrystarting in January. The impostor Perry said
he had a business opportunity and neededa woman in his life, according to

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a police report obtained by WKYC.Investigators say that the pair continued to talk
for months over what's appened. Theunnamed woman sent thousands of dollars to the
fake rock star, So I wonderwhat kind of business opportunity he was proposing?

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He needs a woman in his life? Oh my gosh. The victim
sent seventy two grand worth of wiretransfers to various personas in various different states
and gave you only fifty thousand dollarsin gift cards of the scamer. Don't
ever if anybody ever asked you topay something in gift cards, it's a
scam. Okay, you don't dobusiness with gift cards. When the fake

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singer became more demanding, like askingfor photos of her IDs, the woman
grew suspicious that she was being defrauded. That's when the pair seemingly went through
separate ways, with the victim decidedto go to the police. Officers told
her to file a complaint with theFBI's Internet Crime Complaints Center to report the
scam to her bank. According tothe outlet, apparently the investigation is still

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ongoing. Ohs, and there areso many people that fall for scams and
send money every single year. Getsmart and don't fall for the stuff they're
they're absolutely trying to get you toengage. That's the first, first and

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foremost. Just don't even respond.Alright, if you haven't talked to my
good friend Tony Vaccaro, I shouldgive Tony a call. He'll give you
a complimentary review review of your stateplaying and insurance program. He's been handling

(24:27):
my family's estate planning needs for wellover a decade, got us all set
up for success. Here, doesn'tmatter if you've got a small state,
you're just getting your career going,you just right out of college, or
you've been set and you're retired.He'll take a look and see if he's

(24:49):
got any ideas for you. Andit's no pressure, no pressure at all.
He's independent. You can go toanybody you want. He'll give you
his thoughts if you like him andyou like any ideas he proposes. If
he has any for you, youcan use him. You can use anybody
else, So make sure you givehim a call. Two one four eight

(25:10):
three seven three five one two.That's two one forty three seven three five
one two. Or you can lookhim up on his website TRIPLEW dot Independent
APG. That's INDEPENDENTAPG for Advanced PlanningGroup dot com. All right, krispy

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Kreme came across this article. Butfacts you probably didn't know, and I
didn't know some of these. Thisis from love Food. Let's see what
we got here. Invented in themiddle of the Great Depression, Krispy Kreme
has stood the test of time forover eight decades. I absolutely didn't know

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that I thought they were a fairlynew brand. With the brand now being
rolled out McDonald's across the US andregular new launch is landing on its menus,
it continues to be one of themost coveted brands in the world.
But how much do you really knowabout the company? And it's melt in

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the mouth donuts. Let's see,so it says. Although most people believe
Krispy Kreme's origins lie in North Carolina, story really began elsewhere. A just

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out of college of Vernon Rudolph wentto help out as uncle Ishmael Armstrong's general
store in Paducah, Kentucky in theearly nineteen thirties, but after a few
years the family decided to sell.They moved south and set up a donuts

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only store in the bigger city ofNashville in the hope of finding more businesses.
This is a story where I gota click through these panels here.
After a few years working for hisfamily in Nashville, young Vernon wanted to

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branch out on his own. Innineteen thirty seven, he started looking for
a location to open his own donutsstore. How did he choose where to
go? He took inspiration from CamelTobacco, which was based in Winston Salem,
North Carolina. If Camill could besuccessful there, why couldn't he.

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It's believe Vernon bought the legendary originalglaze recipe for his donuts from a French
chef. Some sources say this chefwas called Joe le Beau and that he
came from New Orleans, while otherssay his name was Joseph G. Lemauth
and he lived in Louisville, Kentucky. Either way, we have a lot

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to thank the guy for. Sothe donuts say, way next to nothing
and practical. We dissolve when youbite into them. But what is it
that gives Christy Kream donuts their signaturetaste and texture. No one knows for
sure, as the recipe has reportedlylocked in a vault at the company headquarters

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in Winston sale And, North Carolina. However, according to food historians,
mashed potato may be the secret ingredients, and the company claims it hasn't changed
recipe much since the early days.When Vernon Rudolf first set himself up,
Krispy Kreme was a wholesale donut factorythat's sold only to grocery stores. However,

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the scent of fresh we baked donutswafting from the building meant the operation
didn't stay see, and the youngbusinessman had passerbys and knocking on the door
asking if they could buy whatever hewas baking. In fact, so many

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people asked that Vernon built a windowso they could buy the hot treats straight
off the street. Yeah, therewas a was it Missus Baird's Bakery in
the Dallas area, And there weresome mornings you could smell that bread bacon

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in and smell awesome. So Ican relate to what they're talking about here.
The donut story spanned it into achain in the forties and fifties,
with family owned franchises opening across theCarolinas. By the late fifties, there
were Krispy Kreme stores and twelve states, all with the same factory retail layout,
which allowed visitors to see the hotdonuts being made in the back,

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the delicious donuts in a glass caseat the front. Believe it or not,
Krispy Kreme once sold pizza. It'snot clear why the savory product was
first introduced or why it disappeared fromthe menu with there being very little evidence
to the dish, aside from thispost on the brand's official Facebook page.

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These days the chain is pretty successfulselling donuts and coffee only, and they
really don't need pizza. Oh whathappened here? Come on? Though customers
loved Krispy Kreme donuts, each ofthem, mostly family owned stores were producing
slightly different donuts despite following the samerecipe. Solve the problem of consistency,

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Vernon built essential plant that distributed adry ingredients mixed to all the stores and
installed identical donut making machines inside eachstore. This conveyor belt contraption what's called
the ring King, and an updatedversion of it is still used by stores
today. Yeah, it looks prettycrazy when you walk in there and see

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that conveyor thing going To make thesignature original blaze donuts, The yeast dough
goes through an air pressurized machine whichshapes it into perfectly puffed rings. It's
allowed to proof for thirty minutes,then it's fried to vegetables fried in vegetable

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shorting, all while moving along theconveyor belt. Once cooked, the donuts
travel through a waterfall of warm sugarblaze. When sure and even finish,
man, I'm getting hungry for oneright now. From start to finish,
the donut making process takes approximately onehour that includes thirty three minutes of preparation

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of frying, plus twenty five minutesof icing and cooling. While the blazed
donuts are a job mostly done bya machine, the jelly and iceed donuts
need to be filled and decorated byhand. For a bay sale. Like
no other, Krispy Kreme supplies bulkorders of donuts for people raising money for

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a worthy cause. Set Up innineteen fifty five, its fundraising arm has
assisted countless schools, sports teams,churches, charities, and community organizations of
raised some dough According to its website, in twenty twenty two, the brand
helped to raise approximately thirty seven milliondollars. Wow, that's really cool.

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Ever wondered what the Krispy Kream logois meant to be? Designed by local
architect Benny Dinkins in the store's greenand red colors for the original store on
South Main Street in Old Salem,it was trademarked in nineteen fifty five.
Designer is referred to as the bowTie and has never been changed Today Krispy

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Kreme store with its red, white, and green color scheme, is instantly
recognizable for miles away, but itwasn't always that way. The distinctive green
tild the roof stores only came intoplay in the sixties as a chain continued
to expand. It was at thistime that the famed brand's heritage road signs

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also appeared. Don It still hasa family run feel to where Krispy Kreme
is no longer family owned and itsfounder died in the nineteen seventies. The
doughnut brand was bought by a beatriousfoods company in nineteen seventy six, which
also produced the Meadow Gold clock Bar, milk Duds, and Dan and yogurt

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brands. I didn't know that.Not long after, however, a group
of early franchises bought it back.From twenty six team to twenty twenty one,
Christy Kreme was a public company ownedby German corporation JB Holdings. It's
now publicly traded listen on NASDAK sinceJuly twenty twenty one. All right,

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that's enough on Christy kaream all right. Mount Cox if you got into bitcoin
early. Mount Cox was one ofthose big bitcoin exchanges and a lot of
people are running bitcoin through there andit wound up collapsing. You know,

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this is back in the more towardsthe beginning of the old bitcoin craze.
Wasn't any regulation around these exchanges andit you know, and now you've got
the modern day Robin Hood, oldsam Bank, Freed and FTX. But
this goes back a little ways withthe finally starting to pay out some of

(35:07):
the claims that had been submitted tothe bankruptcy cord whips. What am I
doing here? All right? Sothis comes to us from NBC News,
says the trustee for mount Gox,the Japanese bitcoin exchange of collapse into bankruptcy

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a decade ago on Friday, saidthe company has begun to make payments in
bitcoin and in bitcoin cash to someof its creditors. The announcement added that
repayments to other users of the hackedexchange would be promptly made if they meet
certain conditions, including undergoing account verification, as well as subscribing to one of

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the designated digital asset exchanges through whichthe bankruptcy estate is facilitating disbursements and digital
tokens. We asked the eligible rehabilitationcreditors to wait for a while, continues
the statement. The price of bitcoinis plunged nearly six percent in the past

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twenty four hours. That's from thetime this article came out a few days
ago. Customers of the Tokyo BasicChange had been waiting ten years to get
their money back, once the world'slargest crypto trading venue. Mancox's file for
bankruptcy in February twenty fourteen after aseries of heists that saw up to nine

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hundred and fifty thousand bitcoin, wherethe upwards of fifty eight billion dollars at
today's prices is vanish. Fifty eightbillion dollars were Moncox blamed the bitcoin disappearance
on a bug in the cryptocurrency's framework. While users were receiving incomplete transaction messages

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when accessing the exchange coins, manyhave actually been illictedly moved by hackers out
of their accounts. Mancox said afterdeclaring bankruptcy, one hundred and forty thousand
of the missing bitcoin were recovered,which means roughly nine billion dollars worth a
bitcoin will be returned to owners.In today's prices, bitcoin was trading at

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roughly six hundred dollars at the timeof the bankruptcy. Today it's worth more
than fifty four thousand dollars and almostnine thousand percent increase. Yeah, if
you got in on the bitcoin trainearly, you definitely stood to make a
fortune. According to data from ArkhamIntelligence, on Thursday and Friday, Mount

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Cox moved billions of dollars in bitcoinfrom its crypto Waltz head of the repayment
memo. More than forty seven thousandbitcoins worth two point seven billion dollars were
moved out of an offline cryptocurrency wallassosue with mount Cox. Arkman Intelligence said
Friday, portion on's worth eighty fourpoint nine million dollars was sent to Japanese

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crypto exchange at bit Bank, whichis listed among the platforms supporting repayments to
mount Cox users. According to ArkmanIntelligence, a further sixty three point six
million dollars a bitcoin was sent toan unknown counterparty, which Arkman Intelligence said
was likely a listed repayments exchange.Mountcox wallets continue to hold one hundred and

(38:25):
thirty and eighty five bitcoins worth aroundseven and a half billion dollars a current
prices, according to Arkman Intelligence,meaning bitcoins of dollars worth of the cryptocurrency
here yet to be paid out,meaning billions of dollars or yet to be

(38:46):
paid out. How will this affectBitcoin, Well, we'll see, but
analysts previously told CBC they expect thatMountain Cox and its repayment plan will lead
to some heavy selling and bitcoin,although this is likely to be short lived

(39:07):
to proceed further price gains later thisyear. In in early twenty twenty five.
All right from Bloomberg From July first, the next billionaire gets seven and
a half years going to the slammerfor defrauding investors, says a former jet

(39:32):
setting Chicago billionaire was sentenced to sevenand a half years in prison for a
one billion dollar fraud and an advertisingstartup that included investors such as Goldman Sachs
Group in Google parent Alphabet Inc.And Illinois Governor JB. Pritzker's venture capital
firm. Rishi Shaw, who's thirtyeight, the co founder of Outcome Health,

(39:55):
which provided ads on TVs doctor's offices, was convicted of more than a
dozen fraud and money laundering charges bya federal jury last year. He and
two other Outcome executives were sentenced lastweek in Chicago by US District Judge Thomas
Dirkin. The US Attorney's Office saidin a statement on Monday, prosecutors had

(40:21):
sought a fifteen year sentence describing Shawas the driving force behind a disney and
array of lies to clients, lenders, investors in an audit firm. He
and the other executives were accused oflying to pharmaceutical company clients and taking money
for ads that were never placed,and then misrepresenting the health of the company
to investors before the fraud was revealedin a twenty seventeen Wall Street Ternal article.

(40:45):
Shaw was a bunning star and Democraticcircle. Shaw got the idea for
Outcome, then known as Context MediaHealth in two thousand and six while he
was a student at Northwestern University justnorth of Chicago, and a company's rapid
run ever the next decade boost ofhis public profile, then Mayor Ram Emmanuel
declared that a company press conference,this outcome goes, so goes Chicago.

(41:09):
But outcomes claims of exponential revenue growthwere driven by fraud, as the company
sold more ads than it could broadcastand led to clients like pharmaceutical giant Novo
nordisk as about the size of itsnetwork of TVs in doctor's offices. According
to prosecutors and securities regulators, thecompany's surge and cash from ant sales and

(41:34):
financings allowed Shaw to extract hundreds ofmillions of dollars from outcome to live a
lavish lifestyle with weekend trips on privateyachts and jets, as well as a
ten million dollar home. The governmentsaid, after raising more money from lenders
and investors based on bogus financial statementsin twenty sixteen, shows networth was reported
at more than four billion dollars.Prosecutors said outcomes former executives deceive, their

(42:00):
clients are auditor, they're lenders andtheir investors for years. Well Shaw,
well, I guess he admitted toit here told the judge last week in
a prepared statement that he was ashamedand embarrassed by his failure to properly manage
the company's aggressive push for growth,which led to a number of fatal mistakes,

(42:24):
like misrepresenting things that's not good.There you go. Even billionaires sometimes
go astray. All right, Fisker, if you like the Fisker, they're
doing a fire cell. This ispart of their bankruptcy. You can get
one on the cheap, so checkthis out. It's from the street,

(42:50):
says, sometimes the credible, lucrativedeal might be too good to be true.
On June eighteenth, Manhattan Beach,California based TV startup Fisker Inc.
Five for Chapter eleven bankruptcy after aturbulent pattern of events that involve various quality
control issues recalls. An disastrous reviewfrom YouTube's leading tech authority affected the firm's

(43:13):
sole offering, the all electric OceanSGV, With the company left working to
find creative solutions to payback its creditors. A landmark deal is set to outfit
New York City based ride share driverswith new electric vehicles obtained at prices at
a fraction of its mr MSRP.But like all things obtained at a fire

(43:38):
cell price, these vehicles come witha big assers the kurd owners are learning
to deal with. As part ofits bankruptcy proceedings, Fisker Rink is set
to sell its remaining inventory of OceanElectric SGVs New York City based American Lease,
the company specializing and running and leasingvehicles to ride share drivers, as

(44:00):
read to buy the whole lot ofthree three hundred and twenty one vehicles for
a total of forty six point threemillion dollars, penning court approval. Initially,
the deal was set for just twentyone hundred vehicles, but court records
show that the new outsize deal wasmade because the EV startup will not be
able to fund payroll taxes to thedeals not finalized by July twelfth. Of

(44:22):
the three three hundred twenty one vehiclesset to be transferred to the New York
City based rideshare vehicle leasing firm twentyseven and eleven of the oceans are described
as being in a reasonably good workingorder, having a manufacturer certificate of origin.
These vehicles fetch the most expensive price, selling for sixteen thousan five hundred

(44:44):
dollars per vehicle. Initially, threehundred and fifty one vehicles that were previously
toddled are set to be sold forjust thirty two hundred each, and other
eves that have mechanical, cosmetic,or other damage or defects that require estimated
at over five grand we're talking aboutthe repair costs have been sold for rock

(45:05):
bottom prices as low as two thyfive hundred dollars. American Leased. The
New York City based company taking advantageof these fire cell prices is a company
that specializes in providing right shaired driverswith vehicles that they do not currently in,
a vehicle that conforms the requirements setby services like Uber or Left.

(45:30):
According to its website, the company, with offices and queens the Bronx and
Brooklyn, is an official partner withUber and offers ride shared drivers the ability
to drive new and use Toyota Cameras, Highlanders and Mercedes Metris bans for as
low as three hundred and fifty dollarsper month. That's pretty good, how

(45:52):
are? The rigorous demands of NewYork City driving can lead to extensive wearing,
tear mechanical abuse, especially for TLCregistered rideshare cars, limos, livery
cars, and taxi cabs. Thiskind of environment requires operators drivers that have
cars that are not only easy torepair, but ones where spare parks are

(46:14):
plentiful. Unfortunately, lack of spareparks and long wait times for service has
been an issue that Fisker owners facedbefore the company went bankrupt. Yeah,
there you go, fisk around themove. CNN, it's got a story

(46:35):
on amusement parks. Turns out thatsix Flags this week completed an eight billion
dollar merger with rival Cedar Fair tocreate the largest amusement park operator in the
US. Together, they operate fortytwo amusement and water parks across seventeen states.
The success of the deal would determinethe future these amusement parks and diehard

(46:59):
roller coasters are watching carefully. Someare optimistic to the condition of six Flags
parks will improve, others where itwill become more expensive to get into their
favorite parks. Many amusement park fansare passionate about the park's design and history
and notice the smallest changes. Fornow, each park and the new company

(47:21):
will keep its old branding and name, But fans fear the parks could lose
their nostalgic elements and become a seaof corporate sameness. There's apprehension, said
Bill Nice, who has been asix Flag season pass holder on and off,
but mostly on for thirty years.Twisting through Nitro and Wonder Woman rides

(47:42):
at six Flags Great Adventure in NewJersey. Canise goes the park with his
sons and his friends. He alsogoes by himself, sometimes to take in
the roar of the coasters or findquieter spots around the park gardens. If
the new six Flags can find away to on or the history of the
parks and bring in new attractions forall types of enthusiasts, they're poised for

(48:07):
success. He said, all right, we'll see how that goes. American
Express, it's from CNN business.American Express has taken over the restaurant reservation
business. Trying to get a tableat a buzzy New York restaurants or if

(48:34):
you're gonna have better luck if you'rean American Express card holder, pay the
requisite hundreds of dollars in fees.Marrin Express announced last week that it's buying
Talk, a booking app for aroundseven thousand restaurants, bars, and other
venues, for four hundred million bucks. Mar Can Express already owns Rezi,
a rival restaurant booking app, andgives special table access TIMEX customers that are

(49:00):
not available at other customers. AmericanExpress Platinum card holders, you're paying six
hundred and ninety five dollars annually foryour annual fee, and Delta sky Miles
Reserve customers pay six fifty a year. They receive exclusive reservations at hard to
get restaurants, and first DIBs whencancelations pop up. Rajesh bard Wads,

(49:24):
the owner of Janoon in New YorkCity, one of the first Indian restaurants
in the US to earn a MichelinStar and other restaurants, said that Amex
has helped his eateies connect with newcustomers and develop events and curated menus to
target specific Amex customers. It's goodnews for restaurants, he said, of

(49:45):
Amex's involvement in Rezie and now talkSo red Box, everybody's seen red Box,
get your videos out of there.Employees of red Box parents Chicken Soup

(50:08):
for the Sole Entertainment. That's thename of the parent company, Chicken Soup
for Sole Entertainment. Our contractor resumedgetting the regular pay and benefits under a
loan agreement given initial approval by abankruptcy court judge. Roughly one thousand workers
at the company that said Red Boxhave gone without pay for at least two
weeks, in some cases longer.Chicken Soup file for Chapter eleven bankruptcy protection

(50:32):
last week after months of financial struggles. So red Box, owned by Chicken
Chicken Soup and File Chapter eleven thatweren't paying the Red Box employees. And
it sounds like the bankruptcy judge approvesthis thing will at least wind up getting

(50:57):
bread paychecks. Here, you've beenlistening to Doctor Doug Ramsey Show. Remember
I can't make dough with that doub