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International Light Tackle Tournament Results

Inclement weather and seaweed made for challenging conditions for the 52nd International Light Tackle Tournament [ILTT], held as a single day event on Sunday, June 23. A spokesperson said, “Originally scheduled as a two-day tournament, fishing on Saturday had to be cancelled due to high seas. “Ultimately ‘Philly For Rum,’ representing the United States and […]

(Click to read the full article)




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Karting: RUBiS National Championship Standings

Following the latest round of racing at the Rubis Southside Motor Sports Park, the Bermuda Karting Club’s Overall Standings follow below. LO206 Senior Class 1st – #91 Jason ‘SkuzZie’ North – 436 points 2nd – #18 Stephen Corrado – 390 points 3rd – #6 David Barbosa – 381 points 4th – #9 Scott ‘Skitchy’ Barnes […]

(Click to read the full article)




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Lisa Howie Joins National Museum Of Bermuda

The National Museum of Bermuda [NMB] announced that Lisa Howie has been hired as NMB Director of Learning and Engagement. Ms. Howie will be implementing the newly launched NMB Education Strategy which aims to reposition the Museum as a multi-faceted community institution that encourages and supports the open exploration of history, heritage and identity. “We are […]

(Click to read the full article)




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National Museum Launches Pre-Purchase Tickets

The National Museum of Bermuda [NMB] is asking community members to pre-order admissions tickets through their website to support the Museum while it is closed during the ongoing Covid-19 pandemic. A spokesperson said, “The National Museum of Bermuda [NMB] is asking community members to pre-order admissions tickets through their website to support the Museum while […]

(Click to read the full article)




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Bermuda International Film Festival Postponed

The Bermuda International Film Festival announces that it has postponed this year’s event. “Upon review of new restrictions to limit public gatherings, we agree the health and safety of the public must take precedence,” a spokesperson said. “BIFF was scheduled to be held March 20-26 at Speciality Cinema in Hamilton. “Festival organisers released the following […]

(Click to read the full article)




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Global Indemnity Donate $12.5K To Turtle Project

Global Indemnity Re has donated $12,500 in support of the 50th anniversary of the Bermuda Turtle Project. A BZS spokesperson said, “The Bermuda Zoological Society [BZS] is pleased to announce that for the fourth consecutive year, Global Indemnity Re [GIR] has supported BZS Conservation. “This year, GIR donated $12.5K in support of the 50th anniversary […]

(Click to read the full article)




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Possible Banana Shortage Due To Contamination

There “may be a temporary shortage of bananas in the coming weeks due to continued pest contaminations of imported banana shipments,” the Government said today. A Government spokesperson said, “The Department of Environment and Natural Resources [DENR] advises the public that there may be a temporary shortage of bananas in the coming weeks due to […]

(Click to read the full article)




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BNT Children’s Nature Walk At Spittal Pond

Spittal Pond Nature Reserve was the venue for 245 children, teachers, camp leaders and parents who joined the Bermuda National Trust’s Annual Children’s Nature Walk today [Feb 13]. “One of Bermuda’s most spectacular open spaces, this 64-acre reserve is part of a chain of wetlands along the South Shore, providing a diversity of habitats and […]

(Click to read the full article)




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Free Saturday Activities At National Museum

The National Museum of Bermuda is offering free Saturday activities — including Palmetto weaving, book readings and chair yoga — during the month of February. A spokesperson said, “National Museum of Bermuda is offering free Saturday activities during the month of February. This coming Saturday, February 22, local artist and historian Ronnie Chameau and Bermudian author […]

(Click to read the full article)




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Buy Back Bermuda To Create Nature Reserve

Buy Back Bermuda purchased 3.5 acres of land along the Shelly Bay stretch with public donations in 2012, and work is now underway to restore the land as a nature reserve and open it to the public. A spokesperson said, “Eve’s Pond has become the site of a major restoration project to provide a new […]

(Click to read the full article)




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Photos & Video: International Women’s Day

The International Women’s Day Bermuda committee held an International Women’s Day celebration on Friday [March 6] at City Hall with the event featuring speakers and entertainment, while Tami Ray — Bermuda’s first female ferry pilot — received the Woman of the Year award. A spokesperson previously said, “International Women’s Day is for celebrating the achievements […]

(Click to read the full article)




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Sompo International Holdings Hires Julian James

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Mr. Julian James will soon join the organization to lead the London market and International insurance platforms. Subject to regulatory approval and after a short period of transition, Mr. James will succeed Mr. Graham Evans as the Chief […]

(Click to read the full article)




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HSBC Announces Resignation & Appointment

In a filing with the Bermuda Stock Exchange, HSBC announced the resignation and appointment of directors. The filing stated: HSBC Managed Portfolios Limited HSBC Corporate Money Funds Limited HSBC Specialist Funds Limited [each a “Company”] Director Resignation and Appointment The Board of Directors of each Company wish to announce the resignation of Mr. Anthony Joaquin […]

(Click to read the full article)




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BILTIR Appoint Natasha Scotland Courcy

Bermuda International Long Term Insurers and Reinsurers [BILTIR] has appointed Natasha Scotland Courcy to its Board of Directors. A spokesperson said, “Mrs Scotland Courcy is Senior Vice President, General Counsel and Co-Chief Operating Officer at Athene Life Re Ltd., a leading global life reinsurer established in 2009. “In addition to her supervisory role over the […]

(Click to read the full article)




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National Sports Governing Bodies Hold Meeting

The Association of National Sports Governing Bodies [ANSGB] held their General Assembly Meeting on Saturday, December 1st at the CedarBridge Academy. Delegates representing Bermuda Boxing Association, Bermuda Association of Motorsports, Bermuda Badminton Association, Bermuda Basketball Association, Bermuda Bicycle Association, Bermuda Body Building and Fitness Federation, Bermuda Bowling Federation, Bermuda Cricket Board, Bermuda Darts Association, Bermuda Equestrian […]

(Click to read the full article)




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BPBA Donates $2,000 To St. John’s Ambulance

The Bermuda Powerboat Association [BPBA] made a $2,000 donation to St. John’s Ambulance, offering a “sincere thank you for all the support the BPBA has received in the past and will receive in the future facilitating off shore power boat racing in Bermuda.” A spokesperson said, “The BPBA have a substantial history of working with […]

(Click to read the full article)




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Monument Re Donates $120,000 To BCF

Monument Re has donated $120,000 to the Bermuda Community Foundation’s [BCF] Emergency Fund, with contributions from individual staff members matched by the company. A spokesperson said, “Monument Re announced today that the company is donating $120,000 to the Bermuda Community Foundation’s Emergency Fund. “The donation represents contributions from the company together with generous contributions from […]

(Click to read the full article)




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Auto Solutions Donates 5,000 Face Masks

Minister Wayne Caines thanked Auto Solutions after the company donated 5,000 face masks for distribution to the public. In an online post, the Bermuda Government said, “National Security Minister Wayne Caines extended his thanks to Auto Solutions’ Managing Director Glen Smith after the company donated 5,000 face masks for distribution to the public. Minister Caines: […]

(Click to read the full article)




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ZipX Donates 5,000 Face Masks To Government

ZipX Bermuda has donated 5,000 face masks to the Bermuda Government for the island’s frontline workers during the Covid-19 pandemic. A spokesperson said, “ZipX Bermuda has donated 5,000 face masks to the Bermuda Government for the island’s frontline workers. Additionally, they are supplying ZipX customers with complimentary individually-wrapped face masks with every package they deliver.” […]

(Click to read the full article)




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Couple Dominates In Local Pool Tournaments

After winning a number of local pool tournaments, a husband and wife duo are getting set to represent the island at the VNEA championships in Las Vegas – the same tournament where they met 15 years ago. Kat Wilson and her husband Karl Wilson won Bermuda International Pool League [BIPL] 8-ball mixed scotch doubles tournament […]

(Click to read the full article)




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Bermuda Win International Snooker Team Event

The International Snooker Tournament got underway with a Team Event inside the Ocean View Golf Club. Bermuda entered two teams that faced off against teams from Halifax, Vancouver, NYAC and Calgary. The Bermuda Two team of Steven Bremar, Mike Zimmerman and Keino Zuill won the team event with 24 points. Bremar played in Division 1, with […]

(Click to read the full article)




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International Snooker Tournament Concludes

The International Snooker Tournament came to an end inside the Ocean View Golf Club. Pat Burke was crowned the Low Scratch Champion after defeating Paul Fedden in the Final. Steve Pavlick won the Singles Handicap title after his Final win over Tyler Moniz. The Doubles Champions were Brake and Geoff Brunn, they defeated Keino Zuill and […]

(Click to read the full article)




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Photos: International Snooker Tournament

The International Snooker Tournament came to an end inside the Ocean View Golf Club. Pat Burke was crowned the Low Scratch Champion after defeating Paul Fedden in the Final. Steve Pavlick won the Singles Handicap title after his Final win over Tyler Moniz. The Doubles Champions were Brake and Geoff Brunn, they defeated Keino Zuill and […]

(Click to read the full article)




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Photos & Video: Home-Grown Alternatives Show

The Home-Grown Alternatives Show was held on Saturday [Dec 7] at the St. Paul’s Christian Centre on Middle Road in Paget, with vendors offering a shopping experience designed to showcase Bermuda-made arts and crafts. Live video replay below: In 1995 Christine Wellman and Mary Tatem decided to hold a pre-Christmas craft fair, and over the years the […]

(Click to read the full article)




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Bermuda Biennial Opens At National Gallery

The 2020 Bermuda Biennial opened to the public on Saturday [March 7], with the exhibition to run until September. A spokesperson said, “The 2020 Bermuda Biennial opened to the public on Saturday, March 7. The exhibition, sponsored by Bacardi Limited, is a key platform for the contemporary art scene in Bermuda. Started in 1994 by […]

(Click to read the full article)




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Jarion Richardson’s Maiden Senate Speech

Senator Jarion Richardson — who was recently appointed to the Senate by the OBA following the resignation of Nick Kempe — made his maiden speech in the Senate today. Senator Richardson said, “Bermuda sits in the eye of change. We can be assured that the Bermuda of our today will not look like the Bermuda […]

(Click to read the full article)




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International Women’s March Online Chat

A live chat event with Dany Pen, founder of Women’s A.C.T, as well as Robyn Swan, founder of Move Bermuda Forward, will be held on Sunday [Jan 19] at 1.00pm to mark the anniversary of the International Women’s March. In an online post, Women’s A.C.T Group said, “Happening This Sunday. Join Dany Pen and Robyn […]

(Click to read the full article)




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National Junior Squash Championships Day One

Day One of the AXA Bermuda National Junior Squash Championships concluded after a long day of competition today [Dec 21] at the Bermuda Squash Racquets Association Club. The Boys Under 19 semi final’s saw Anaya Smith defeat Charlie Riker 11-6, 11-5, 11-6. He will face Taylor Carrick who defeated Matthew Elliott 11-6, 11-6, 11-3. Izzy […]

(Click to read the full article)




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National Junior Squash Championships Finals

The final day of play at the 2019 AXA Bermuda National Junior Squash Championships took place today [Dec 22] at the Bermuda Squash Racquets Association Club in Devonshire. Taylor Carrick won the Boys Under 19 final defeating Anaya Smith, while Charlotte Toogood won the Girls Under 19 final defeating Abigail Brewer. Matthew Elliott captured the […]

(Click to read the full article)




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Chelsea Amber Scores Nine Award Nominations

2019 has been the year of Bermudian-Canadian songbird Chelsea Amber. She’s released a new album that’s been a critical and popular success, dominated the airwaves with a series of hit singles and has now scooped nine nominations for the upcoming Gospel Music Association of Canada’s upcoming Covenant Awards. Nominees for the 41st annual Covenants were […]

(Click to read the full article)




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Natalie Nunn In Bermuda For Cup Match

She was the member of TV’s Bad Girls Club with a good head for business When she became the breakout star on the 2009 season of that reality show, budding entrepreneur Natalie Nunn treated her celebrity as a business opportunity, using it to establish and build her brand. Ms Nunn posted a photo of herself […]

(Click to read the full article)




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Digicel & One Donate Cell Service To Soldiers

The island’s two biggest telecommunications companies have donated almost $30,000 worth of cell phone services to help soldiers on the Covid-19 frontline keep in touch with their loved ones. Digicel and One Communications said they decided to support the Royal Bermuda Regiment’s efforts to control the spread of the disease and give about 200 soldiers […]

(Click to read the full article)




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NZ Nominated For Laureus World Team Of Year

The New Zealand America’s Cup team — which won the coveted trophy when Bermuda hosted the event in 2017 — has been nominated for the Laureus Team of the Year award, with the sailors nominated alongside teams including NBA Champions Golden State Warriors, Super Bowl champions New England Patriots, and Champions League winners Real Madrid. The […]

(Click to read the full article)




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Boston Magazine Touts Island As Destination

Boston Magazine is encouraging its readers to “fantasize about your post-quarantine vacation in Bermuda,” saying that “no place beckons Bostonians quite like Bermuda.” The story said, “Let’s face it: none of us is boarding a plane bound for paradise anytime soon. But while you’re drooling over dream destinations on the Travel Channel from the safety […]

(Click to read the full article)




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Marine Board call for nominations by June 15

The Marine Board of the National Academies of Sciences, Engineering, and Medicine (National Academies) is seeking nominations for new members to be appointed to three-year terms that would commence on November 1, 2020. There will be five (5) vacancies on the Board in 2020 and there is particular interest in candidates with expertise in the following areas: Naval Architecture and Naval Engineering Shipbuilding/Shipyard Operations Vessel Pilotage and Harbor Operations Seaport Administration, Planning, and ...




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National Politics With Ken Rudin

President Donald Trump maintained over the weekend that it’s safe for states to reopen during the pandemic and voiced support for anti-lockdown protesters that have rallied at statehouses in Ohio and Michigan. Former Vice President Joe Biden breaks weeks of silence and flatly denied the sexual assault allegation brought against him by former Senate aide Tara Reade, telling MSNBC “it never, never happened.”




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Impacts on Practice: New International Arrivals Facility Will Enhance Customer Experience at Seattle–Tacoma International Airport

In 2017, when leadership at Seattle–Tacoma International Airport (Sea-Tac) decided to build a new International Arrivals Facility (IAF), they knew they had to leverage airport resources in a cost-effective manner to enhance customer experience. At nearly 50 years old, the existing facility could no longer accommodate Sea-Tac’s demand for international travel, which grew 107 percent from 2007 to 2017. The latest issue of the  TRB Airport Cooperative Research Program's (ACRP) Impacts on Practice serie...



  • http://www.trb.org/Resource.ashx?sn=cover_acrp_iop_059

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Tenth International Conference on Structural Health Monitoring of Intelligent Infrastructure*

International Society for Structural Health Monitoring of Intelligent Infrastracture will host Tenth International Conference on Structural Health Monitoring of Intelligent Infrastructure on June 30 - July 2, 2021 in Porto, Portugal. TRB is pleased to cosponsor this event. The conference provides a forum for idea exchanges, knowledge sharing, and technology-need matchmaking in the global Structural Health Monitoring and Nondestructive Testing community. It serves as a unique venue to showcase U.S. and gl...




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International Symposium on Pavement, Roadway, and Bridge Life Cycle Assessment*

University of California Pavement Research and National Center for Sustainable Transport have postponed the International Symposium on Pavement Life Cycle Assessment from June 3-6, 2020 to January 13-15, 2021 in Sacramento, CA. TRB is pleased to cosponsor this event. The symposium will focus on the implementation of Life Cycle Assessment (LCA) for pavements. The workshop address the implementation of LCA in pavement operations at the network and project levels.




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Impacts on Practice: Measuring Success at Raleigh–Durham International Airport

As an East Coast tech hub, Raleigh, North Carolina, is one of the fastest growing metropolitan areas in the United States. Leaders there used the knowledge gained from two reports by TRB's Airport Cooperative Research Program to develop a draft Balanced Scorecard, which was then refined, approved, and implemented. Impacts on Practice: Measuring Success at Raleigh–Durham International Airport summarizes how RDU now better connects its strategic goals to its practices, tracks the right metrics, and develop...



  • http://www.trb.org/Resource.ashx?sn=cover_acrp_iop_183

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National Organization of BSA files for Chapter 11

Boy Scouts of America (BSA) filed for Chapter 11 bankruptcy to achieve two key objectives ...




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Registration is Open for 2021 National Jamboree

Registration is now open for the 2021 National Jamboree to be held at The Summit Bechtel Reserve ...




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Deincarnation




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Unattainable




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Natural Causes




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UTEP Professor Named Fellow of International Society for Optics and Photonics

Raymond C. Rumpf, Ph.D., professor of electrical and computer engineering at The University of Texas at El Paso, was promoted to Fellow of the International Society for Optics and Photonics (SPIE), an educational nonprofit established to advance light-based science, engineering and technology.




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Senator Wyden And Others Introduce Bill Calling The DOJ's Bluff Regarding Its Attempt To Destroy Section 230 & Encryption

One of the key points we've been making concerning Attorney General William Barr and his DOJ's eager support for the terrible EARN-IT Act, is that much of it really seems to be to cover up the DOJ's own failings in fighting child porn and child exploitation. The premise behind the EARN IT Act is that there's a lot of child exploitation/child abuse material found on social media... and that social media companies should do more to block that content. Of course, if you step back and think about it, you'd quickly realize that this is a form of sweeping the problem under the rug. Rather than actually tracking down and arresting those exploiting and abusing children, it's demanding private companies just hide the evidence of those horrific acts.

And why might the DOJ and others be so supportive of sweeping evidence under the rug and hiding it? Perhaps because the DOJ and Congress have literally failed to live up to their mandates under existing laws to actually fight child exploitation. Barr's DOJ has been required under law to produce reports showing data about internet crimes against children, and come up with goals to fight those crimes. It has produced only two out of the six reports that were mandated over a decade ago. At the same time, Congress has only allocated a very small budget to state and local law enforcement for fighting internet child abuse. While the laws Congress passed say that Congress should give $60 million to local law enforcement, it has actually allocated only about half of that. Oh, and Homeland Security took nearly half of its "cybercrimes" budget and diverted it to immigration enforcement, rather than fighting internet crimes such as child exploitation.

So... maybe we should recognize that the problem isn't social media platforms, but the fact that Congress and law enforcement -- from local and state up to the DOJ -- have literally failed to do their job.

At least some elected officials have decided to call the DOJ's bluff on why we need the EARN IT Act. Led by Senator Ron Wyden (of course), Senators Kirsten Gillbrand, Bob Casey, Sherrod Brown and Rep. Anna Eshoo have introduced a new bill to actually fight child sex abuse online. Called the Invest in Child Safety Act, it would basically make law enforcement do its job regarding this stuff.

The Invest in Child Safety Act would direct $5 billion in mandatory funding to investigate and target the pedophiles and abusers who create and share child sexual abuse material online. And it would create a new White House office to coordinate efforts across federal agencies, after DOJ refused to comply with a 2008 law requiring coordination and reporting of those efforts. It also directs substantial new funding for community-based efforts to prevent children from becoming victims in the first place.

Basically, the bill would do a bunch of things to make sure that law enforcement is actually dealing with the very real problem of child exploitation, rather than demanding that internet companies (1) sweep evidence under the rug, and (2) break encryption:

  • Quadruple the number of prosecutors and agents in DOJ’s Child Exploitation and Obscenity Section from 30 FTEs to 120 FTEs;
  • Add 100 new agents and investigators for the Federal Bureau of Investigation’s Innocent Images National Initiative, Crimes Against Children Unit, Child Abduction Rapid Deployment Teams, and Child Exploitation and Human Trafficking Task Forces;
  • Fund 65 new NCMEC analysts, engineers, and mental health counselors, as well as a major upgrade to NCMEC’s technology platform to enable the organization to more effectively evaluate and process CSAM reports from tech companies;
  • Double funding for the state Internet Crimes Against Children (ICAC) Task Forces;
  • Double funding for the National Criminal Justice Training Center, to administer crucial Internet Crimes Against Children and Missing and Exploited Children training programs;
  • Increase funding for evidence-based programs, local governments and non-federal entities to detect, prevent and support victims of child sexual abuse, including school-based mental health services and prevention programs like the Children’s Advocacy Centers and the HHS’ Street Outreach Program;
  • Require tech companies to increase the time that they hold evidence of CSAM, in a secure database, to enable law enforcement agencies to prosecute older cases;
  • Establish an Office to Enforce and Protect Against Child Sexual Exploitation, within the Executive Office of the President, to direct and streamline the federal government’s efforts to prevent, investigate and prosecute the scourge of child exploitation;
  • Require the Office to develop an enforcement and protection strategy, in coordination with HHS and GAO; and
  • Require the Office to submit annual monitoring reports, subject to mandatory Congressional testimony to ensure timely execution.
While I always have concerns about law enforcement mission creep and misguided targeting of law enforcement efforts, hopefully everyone can agree that child exploitation does remain a very real problem, and one that law enforcement should be investigating and going after those who are actually exploiting and abusing children. This bill would make that possible, rather than the alternative approach of just blaming the internet companies for law enforcement's failure to take any of this seriously.




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Sketchy Gets Sketchier: Senator Loeffler Received $9 Million 'Gift' Right Before She Joined The Senate

Kelly Loeffler is, by far, the wealthiest elected official in Congress, with an estimated net worth of half a billion dollars (the second wealthiest is Montana Rep. Greg Gianforte (famous for his body slamming a journalist for asking him a question and then lying to the police about it)). Loeffler may be used to getting away with tearing up the red tape in her previous life, but in Congress, that often looks pretty corrupt. In just the last few months since she was appointed, there were concerns about her stock sales and stock purchases, which seemed oddly matched to information she was getting during briefings regarding the impact of COVID-19. She has since agreed to convert all her stock holdings to managed funds outside of her control (something every elected official should do, frankly).

Now, the NY Times is noting another form of what we've referred to as "soft corruption" -- moves that might technically be legal, but which sure look sketchy as hell to any regular non-multimillionaire elected official. In this case, Senator Loeffler received what was, in effect, a gift worth $9 million from her former employer, Intercontinental Exchange (the company that runs the NY Stock Exchange, and where her husband is the CEO).

The key issue was that since she was leaving the job to go join the Senate, she had a bunch of unvested stock. For normal people, if you leave a job before your stock vests, too bad. That's the deal. The vesting period is there for a reason. But for powerful, rich people, apparently the rules change. Intercontinental Exchange changed the rules to grant her the compensation that she wasn't supposed to get, because why not?

Ms. Loeffler, who was appointed to the Senate in December and is now in a competitive race to hold her seat, appears to have received stock and other awards worth more than $9 million from the company, Intercontinental Exchange, according to a review of securities filings by The New York Times, Ms. Loeffler’s financial disclosure form and interviews with compensation and accounting experts. That was on top of her 2019 salary and bonus of about $3.5 million.

The additional compensation came in the form of shares, stock options and other instruments that Ms. Loeffler had previously been granted but was poised to forfeit by leaving the company. Intercontinental Exchange altered the terms of the awards, allowing her to keep them. The largest component — which the company had previously valued at about $7.8 million — was a stake in an Intercontinental Exchange subsidiary that Ms. Loeffler had been running.

The entitlement factor oozes out of the statement put out from her office in response to this:

“Kelly left millions in equity compensation behind to serve in public office to protect freedom, conservative values and economic opportunity for all Georgians,” said Stephen Lawson, a spokesman for Ms. Loeffler. “The obsession of the liberal media and career politicians with her success shows their bias against private sector opportunity in favor of big government.”

No, Stephen, that's not the issue. The issue is that normal people who haven't vested yet, don't get to have the board change the vesting rules as you're leaving to go legislate in order to give you a $9 million windfall you didn't earn because it hadn't vested. If it had just been a question of compensation, no one would be complaining. If she had played by the rules that everyone else played by, lived up to her end of the contract and vested the equity, then no big deal. The problem is the last minute changing of the rules to get her a pretty massive payout (perhaps not by her standards, but by anyone else's).

Indeed, the details show that this wasn't just a timing thing, like a standard vesting deal, but that Loeffler was supposed to reach certain milestones to be able to get the equity. She didn't, but she still gets it. That's the part that has people concerned.

In February 2019, Intercontinental Exchange gave Ms. Loeffler a stake in a limited liability company that owned a stake in Bakkt, according to a March 2019 securities filing. The company at the time estimated the award was worth $15.6 million. But Ms. Loeffler would be able to cash in on the award only under certain circumstances, including if Bakkt’s value soared or if it became a publicly traded company.

When Ms. Loeffler stepped down from the company less than 10 months later, she was poised to forfeit much of that Bakkt stake. But Intercontinental Exchange sped up the vesting process so that she got half of it immediately.

The company, of course, puts a nice spin on it, saying "We admire Kelly’s decision to serve her country in the U.S. Senate and did not want to discourage that willingness to serve,” but what else are they going to say anyway?

Still waiting for that supposed swamp draining we keep hearing about.




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What A Coincidence! Same Day Senator Burr Dumped His Stock, So Did His Brother-in-Law!

Senator Richard Burr's potential insider trading issues, for which he's being investigated, may have gotten quite a bit worse this week. A new report notes that on the same day Burr sold off a "significant percentage" of his stock holdings (while also telling the public not to worry about COVID-19), it turns out his brother-in-law just coincidentally decided to dump a bunch of stock too. Amazing!

Sen. Richard Burr was not the only member of his family to sell off a significant portion of his stock holdings in February, ahead of the market crash spurred by coronavirus fears. On the same day Burr sold, his brother-in-law also dumped tens of thousands of dollars worth of shares. The market fell by more than 30% in the subsequent month.

Burr’s brother-in-law, Gerald Fauth, who has a post on the National Mediation Board, sold between $97,000 and $280,000 worth of shares in six companies — including several that have been hit particularly hard in the market swoon and economic downturn.

Could this actually be a coincidence? Sure. Maybe. But the timing (the very same day...) does seem notable. As the ProPublica report notes, Fauth "is not a frequent stock trader." Burr insists that his sales were based on public information, though it's difficult to see how he could simply ignore the classified briefings he got concerning the rising pandemic issues, and base decisions entirely on public information. Indeed, this is why government officials should be required to hand off any equities like this to a blind trust where they have no visibility into how it's traded.

Even if this is all legal (which is not certain either way yet...), it again reinforces the belief that the powerful live by different rules and are able to game the system for personal advantage, even as they're supposed to be serving the public interest.




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American tech goliaths decide innovation is the answer to Chinese 5G dominance, not bans, national security theater

Microsoft, Cisco, Google etc gang up to form Open RAN Policy Coalition

Some of America’s super-corps have remembered how the US became the dominant global technology force it is, and have vowed to use innovation over threats to counter Chinese dominance in 5G markets.…