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MAGA: AT&T to Give $1K Bonuses to 200K Workers After Passage of Tax Bill

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(Via Zerohedge)

With the relationship between AT&T (and Time Warner) and the Trump administration on the rocks, as the DOJ is now suing to break up the merger which just happens to include Trump’s media nemesis CNN, it appears that AT&T is offering an olive branch to the president, as well as a little backdoor bribe to improve sentiment, and moments ago announced that once tax reform – i.e., Trump’s signature act to date – is signed into law, AT&T will not only invest an additional $1 billion in CapEx in the US in 2018, but also pay a “special bonus” of $1,000 to its more than 200,000 U.S. employees, “all union-represented, non-management and front-line managers.” And, to push Trump to sign the bill into law in the next hours instead of waiting for January, AT&T said that “if the President signs the bill before Christmas, employees will receive the bonus over the holidays.”

In a surprisingly polite address to the president, AT&T CEO Randall Stephenson said that “Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,”and added that “this tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.” AT&T was also quick to note that “since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows.”

The timing of the announcement is not surprising for another reason: earlier this week we reported that AT&T and Time Warner failed to settle acquisition talks with the DOJ. As a result, AT&T will be forced to challenge the DOJ verdict in court, a step it would much rather avoid since a court ruling is unlikely to come before May 2018. Notably, both the companies have resettled the closing date for the deal at Apr 20, 2018. A trial to decide the matter is set to begin on Mar 19, 2018 and run for about 15 days, according to the filing. AT&T’s growth in 2018 will largely depend on the court ruling on the Time Warner merger deal.

If the court ruling goes against AT&T, three options will be available: either scrapping the deal, divesting its DIRECTV division, or acquiring Time Warner without the Turner Broadcasting assets including CNN.

Now if only the DOJ will notice our kind gesture and nice words addressed at Trump and Congress, and please drop the merger lawsuit, all would be great.

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Soros Newest Investor Of Tesla Bonds

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Tesla looks to have a new bond holder and it’s none other than George Soros. Whatever this mean, Soros has also taken a stake in Crypto-Currencies .

Zerohedge Reports: Amid Elon Musk’s darkest hour in late March – as his stocks and bonds tumbled in price – it seems there was at least one other billionaire willing to buy the ‘blood on the street’.

According to the latest 13Fs, George Soros’ investment firm took a $35 million stake in Tesla’s convertible bonds during the first three months of the year.

As a reminder, convertibles are hybrid securities, either bonds or preferred stock, that can be exchanged for a predetermined number of common shares. That effectively lets an investor participate in stock-price changes, but with the yield and greater security of a fixed-income instrument.

The March 2019 Converts bounced handsomely off those lows – tracking the stock’s divergent bounce – but in recent days has fallen back towards the lows, catching down to the straight bonds record low price.

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Trump will lend American exceptionalism to North Korea, if they Denuke-Why it will work

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Sunday, Mike Pompeo, Secretary of State was on CBS Face the Nation discussing  conversations he has had with the leader of North Korea, Kim Jong-Un.  Pompeo talked about what he believes the US shares in common with North Korea; the spirit of small business.

The following is a snippet of a longer interview, where Pompeo discusses what leverage the US has to force Jong-Un to denuclearize, a demand President Donald J. Trump  has made and continues to support:

SECRETARY POMPEO: What Chairman Kim will get from America is our finest – our entrepreneurs, our risk-takers, our capital providers, not our taxpayers. They’ll get people who —

FACE THE NATION: Private capital?

SECRETARY POMPEO: They will get private capital that comes in. North Korea is desperately in need of energy support, electricity for their people. They are – they’re in great need of agricultural equipment and technology, the finest from the Midwest that I come from. We can deliver that. And as I said earlier this week, we can create conditions for real economic prosperity for the North Korean people that will rival that of the South, and that is our expectation. It won’t be U.S. taxpayers. It will be American know-how, knowledge, entrepreneurs, and risk-takers working alongside the North Korean people to create a robust economy for their people, too.

Full transcript Here

Watch Interview Here:

IT IS ALREADY HAPPENING

According to  THIS article, “North Korea’s pseudo-Stalinist government allows a Singapore-based nonprofit called Choson Exchange to run business and entrepreneurship classes in the country, with foreigners teaching North Koreans how to run Western-style enterprises. In fact, these weeklong programs have been held a few times per year for the better part of a decade,” wrote Quartz at Work.

“They have aspirations that we can relate to,” Choson Spokesman said of North Korea.

“Choson Exchange was founded in 2010 by Geoffrey See, a graduate of the University of Pennsylvania’s Wharton School and of Yale, who lives in his native Singapore. Since then, it has led some 1,600 locals in business workshops”, according to the NewssSite.

OPEN TO IT

According to THIS article, discussing Market reforms in North Korea, foreign investment has long been a goal of Jong-Un’s.

“Contrary to the widespread view of the DPRK as a sealed-off country with a closed, inward-oriented economy, North Korea has historically based its economic development strategies on the constant need to maintain ties with foreign countries to generate revenues from exports and bring in foreign technologies.

Although the word reform still constitutes a taboo for North Korean officials, policies aimed at further opening the economy of the DPRK were Pyongyang’s favored option to put the country back on track after the famine of the 1990’s,” said NKNews.

SUPPORT FROM THE TOP

Kim Jong Un, although apparently a hard-liner when it comes to the North Korea’s nuclear development, has also in parallel championed the development of the economy through more active cooperation with foreign countries.

Special Economic Zones, partly modeled after China’s, have proliferated to every single province of the country, are increasingly specialized in certain sectors, and have seen their number rise from four in 2011 to no less than 26 (including Kaesong) in 2017,” reported NKNews.

SUMMIT

Trump and Jong-Un will meet in Singapore June 12. Jong-un, who is still viewed cautiously by the Trump administration,  has offered a number of goodwill gestures to please Trump prior to their meeting, including releasing hostages and offering a denuclearization ceremony.

 

 

 

 

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“Racial Bias Education Day” To Close Down Starbucks Nationwide

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Starbucks is going to the illogical extreme by taking an entire day to put their employees through what they call “Racial Bias Education Day”. Coming after a viral videos showed two men being arrested in a Starbucks in Philadelphia. Starbucks almost instantly gave into calls to do ‘something’ but will this really fix anything in a culture where ‘racism’ is more of a political talking point than an actual substantive conversation or debate.

CNBC Reports: Starbucks said Tuesday it will be closing all of its company-owned restaurants in the U.S. during the afternoon of May 29 to conduct a racial-bias education program.

“I’ve spent the last few days in Philadelphia with my leadership team listening to the community, learning what we did wrong and the steps we need to take to fix it,” Kevin Johnson, CEO of Starbucks, said in a statement Tuesday. “While this is not limited to Starbucks, we’re committed to being a part of the solution. Closing our stores for racial bias training is just one step in a journey that requires dedication from every level of our company and partnerships in our local communities.”

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