According to a person with knowledge of
the situation, an investor group has offered
$5.8 billion to take Macy's private, Reuters reports.
.
The group reportedly consists of
Arkhouse Management and Brigade Capital.
They want to buy any Macy's stock that they don't
already have for $21 per share, sources say.
That represents a 20.76% premium from the stock's
closing price of $17.39 on Dec.
8, Reuters reports.
.
The buyout group is undoubtedly
interested in Macy's large real estate
portfolio, which has attracted activists
and potential buyers in the past, Morningstar analyst David Swartz, via 'The Hill'.
Upon news of the buyout offer, Macy's shares
were up 16% on Dec.
11, trading at $20.13.
The company's total real estate value is estimated
to be $8.5 billion, according to J.P.
Morgan analysts.
That comes to $31 per share, which is less than
the investor group's offer of $21 per share.
However, Arkhouse and Brigade said
that they are willing to "raise the offer
subject to due diligence," Reuters repots.
.
An investment bank has reportedly provided
a letter of support indicating its belief that
the group can secure financing for the deal
‘New York Times’ Poll , Indicates Trouble for Biden.
Donald Trump was found to be "leading in
five out of six swing states," 'The Hill' reports. .
Wisconsin is the only swing
state where Biden is leading.
In 2020, Biden won all six swing states.
The May 13 poll also indicated that support for Biden is dwindling among young voters,
as well as Black and Hispanic voters.
What’s so impressive about this is
polls have historically underestimated
Trump’s support, not overestimated
Trump’s support, Ford O’Connell, a Republican strategist, via 'The Hill'.
And then if you couple this poll
with nearly 100,000 people
showing up in Arctic blue New
Jersey, this is a disaster for Biden, Ford O’Connell, a Republican strategist, via 'The Hill'.
And then if you couple this poll
with nearly 100,000 people
showing up in Arctic blue New
Jersey, this is a disaster for Biden, Ford O’Connell, a Republican strategist, via 'The Hill'.
Biden supporters, however, say that polling conducted this far away from election day should be taken with a grain of salt.
The only consistency in recent
public polls is inconsistency. , Geoff Garin, Biden campaign pollster, via 'The Hill'.
These results need to be weighed against
the 30-plus polls that show Biden up and
gaining — which is exactly why drawing
broad conclusions about the race based
on results from one poll is a mistake. , Geoff Garin, Biden campaign pollster, via 'The Hill'.
The reality is that many voters are not paying
close attention to the election and have not
started making up their minds — a dynamic
also reflected in today’s poll. , Geoff Garin, Biden campaign pollster, via 'The Hill'.
These voters will decide this election,
and only the Biden campaign is doing
the work to win them over, Geoff Garin, Biden campaign pollster, via 'The Hill'
Credit: Wibbitz Top Stories Duration: 01:31Published
Title IX Regulations Add Protections , for Transgender Students.
Title IX prohibits "sex-based discrimination at government-funded schools," 'The Hill' reports. .
On April 19, the Biden administration revealed the last of its changes to the federal civil rights law. .
The new regulations expand how sex discrimination is defined, now including
sexual orientation and gender identity. .
These final regulations build on the
legacy of Title IX by clarifying that
all our nation’s students can access
schools that are safe, welcoming,
and respect their rights. , Education Secretary Miguel Cardona, via statement.
The update also reinstates "protections for student survivors of sexual assault and harassment" which were changed under President Trump, 'The Hill' reports.
Catherine Lhamon, the Education Department’s assistant secretary for civil rights, .
says the new rules will help schools
respond to "all sex discrimination,
not limited to sexual harassment.".
Biden's final changes to Title IX
are sure to be condemned by Republicans
who view transgender protections as failing
to protect cisgender women and girls.
The new changes will take effect Aug. 1.
The Biden administration has not yet finalized an additional rule pertaining to sports eligibility. .
Since 2021, 24 states have passed laws prohibiting transgender student-athletes from playing on
sports teams that align with their gender identity
Credit: Wibbitz Top Stories Duration: 01:31Published
March Retail Sales , Exceeded Expectations.
New Commerce Department data surprised
some analysts on April 15, 'The Hill' reports. .
The agency's latest estimates indicate
that March retail sales increased by 0.7%.
They were only expected
to rise 0.3% last month.
While sales exceeded estimates for March, the jump
was still below the 0.9% increase in February.
Compared to the same time last year, total sales
for the first three months of 2024 were up 2.1%.
On April 10, the Labor Department released data showing that inflation rose last month. .
The consumer price index (CPI)
increased 0.4% in March and 3.5% annually.
In February, consumer prices
increased 3.2% year-over-year. .
Still, the newest Commerce Department data suggests that Americans continue to spend despite prolonged inflation, 'The Hill' reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Biden Cancels Over $7 Billion in Student Debt , for More Than 277,000 Borrowers.
On April 12, President Joe Biden said that over 277,000 borrowers in more than
40 states will have $7.4 billion in student
loan debt wiped out, 'The Hill' reports. .
To date, the Biden administration has canceled $153 billion in student loan debt. .
From day one of my administration,
I promised to fight to ensure higher
education is a ticket to the middle class,
not a barrier to opportunity. , President Joe Biden, via statement.
I will never stop working to cancel
student debt – no matter how
many times Republican elected
officials try to stop us, President Joe Biden, via statement.
'The Hill' reports that Biden's loan forgiveness has largely been aimed at helping
"public service workers, those on IDR plans," .
people who've been defrauded by educational institutions and those with disabilities. .
Republican Rep. Virginia Foxx, chair of the House Education Committee, issued a statement in response to Biden's actions. .
The administration is tone deaf.
There’s no other way to put it, Rep. Virginia Foxx, chair of the House Education Committee, via statement.
We know that instead of doing its
job the administration focused
time, energy, and resources on
its illegal student loan scheme. , Rep. Virginia Foxx, chair of the House Education Committee, via statement.
And that has been frustrating, especially
since it has jeopardized the academic
journey of millions of students, Rep. Virginia Foxx, chair of the House Education Committee, via statement.
But what is absolutely maddening is
that the administration is STILL not
doing its job and instead focusing on
its student loan shenanigans. , Rep. Virginia Foxx, chair of the House Education Committee, via statement.
White House press secretary Karine Jean-Pierre said, , “We know what Republicans are going to do; we can’t
stop them from that. But it’s also not going to stop the president from acting and taking action, like he is today.”
Credit: Wibbitz Top Stories Duration: 01:30Published
Biden Announces Deal With Taiwan’s TSMC , to Ramp Up US Chip Production.
On April 8, the White House said that it has reached an agreement with TSMC to help build new semiconductor manufacturing facilities in Arizona, 'The Hill' reports. .
The Biden administration will
provide up to $6.6 billion in funding
via the CHIPS and Science Act.
The president said that the money
will “support the construction of
leading-edge semiconductor manufacturing facilities right here in the United States.” .
Funding would also go toward
training local workforces at the new facilities.
A year and a half ago, I toured
the site of TSMC’s first new
fab in Phoenix, Arizona, President Joe Biden, via statement.
TSMC’s renewed commitment
to the United States, and its
investment in Arizona.., President Joe Biden, via statement.
... represent a broader story for
semiconductor manufacturing that’s
made in America and with the strong
support of America’s leading technology firms
to build the products we rely on every day, President Joe Biden, via statement.
America's ability to produce its own microchips remains a key area of concern for Biden.
The CHIPS and Science Act, which was passed
with bipartisan support in 2022, is intended to
make the U.S. less dependent on foreign suppliers.
The White House has also made
agreements with Intel, GlobalFoundries
and Bae Systems, 'The Hill' reports.
Credit: Wibbitz Top Stories Duration: 01:31Published