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Analysis: Silicon Valley Bank collapse has echoes of 2008. Here’s why things are different this time

Published Fri, 22 Nov 2024 01:20:47 GMT

Analysis by Julia Horowitz and Anna Cooban | CNNThe failure of Silicon Valley Bank is rattling markets and raising uncomfortable questions: Will it undermine the broader banking system and start a new meltdown?Billionaire hedge fund manager Bill Ackman has compared SVB to Bear Stearns, the first lender to collapse at the start of the 2007-2008 global financial crisis.“The risk of failure and deposit losses here is that the next, least well-capitalized bank faces a run and fails, and the dominoes continue to fall,” Ackman wrote on Twitter.Yet most analysts say the implosion of SVB appears company-specific for now. A crucial lender to US technology startups, the bank came under pressure as Silicon Valley funding dried up, the result of an economic slowdown and rapidly rising interest rates.“The reason [SVB is] in trouble is because they have exposure to particular industries,” said Jonas Goltermann, deputy chief markets economist at Capital Economics. Most othe...

Mexican cartel apology is cold comfort to U.S. victims’ families

Published Fri, 22 Nov 2024 01:20:47 GMT

By Hilary Powell, Alfredo Peña and James Pollard | Associated PressLAKE CITY, S.C. — Relatives of Americans abducted in Mexico said that a purported apology from the Mexican cartel blamed for the attack has done little to dull the pain of their loved ones being killed or wounded.In a letter obtained by The Associated Press through a Tamaulipas state law enforcement official, the Scorpions faction of the Gulf cartel apologized to the residents of Matamoros where the Americans were kidnapped, the Mexican woman who died in the cartel shootout, and the four Americans and their families.But later in the day, the father of Shaeed Woodard, one of the two Americans who died, said he was speechless upon hearing that the cartel had apologized for the violent abduction captured in video which quickly spread online.“I’ve just been trying to make sense out of it for a whole week. Just restless, couldn’t sleep, couldn’t eat. It’s just crazy to see your own child take...

Stanford’s Haase will return for eighth season as MBB coach

Published Fri, 22 Nov 2024 01:20:47 GMT

Stanford men’s basketball coach Jerod Haase will return to the program next season, school officials announced Thursday night after the Cardinal’s loss to Arizona in the Pac-12 tournament quarterfinals.The 95-84 defeat to the second-seeded Wildcats ended Stanford’s season, Haase’s seventh in charge.Under Haase, the Cardinal has never reached the NCAA Tournament and has made the NIT once. Haase’s best overall season was 2019-20, when the Cardinal went 20-12 and was projected by some to reach March Madness before the coronavirus pandemic shut down the sports world.The Cardinal reached the NCAA Tournament 13 times in 14 years under former coaches Mike Montgomery and Trent Johnson.Their successors, Johnny Dawkins and Haase, have produced one berth in 15 years, and none since 2014.Related ArticlesCollege Sports | No. 8 Arizona pulls away from Stanford, reaches Pac-12 semis College Sports | San Jose State beats Nevada in OT to advan...

Sheriff: Man arrested in California mountains for stealing a snow plow in an effort to make money by clearing roads

Published Fri, 22 Nov 2024 01:20:47 GMT

A 35-year-old San Dimas man wanted to pull in a little extra cash by plowing roads in Big Bear Lake after the Blizzard of ’23, but the San Bernardino County Sheriff’s Department said his initiative went too far because the entrepreneur stole a snow plow from the city to carry out his plan.The city reported the theft on March 4. The same day, deputies using GPS tracking found the man sitting in the snow plow on Moonridge Road, on the east end of town near the motel where he was staying, the department said on Thursday, March 9.Related ArticlesCrime and Public Safety | Atmospheric river rocks Bay Area, causing closures, evacuations Crime and Public Safety | With La Niña officially over, El Niño will form during this hurricane season, forecasters say Crime and Public Safety | Coroner: 1 death in San Bernardino Mountains linked to recent storms; 8 others being investigated Crime and Public Safety | Gov. Gavin Newsom requests eme...

‘Mandalorian’ creator Jon Favreau pitches Star Wars ride for Disneyland

Published Fri, 22 Nov 2024 01:20:47 GMT

“Mandalorian” series creator Jon Favreau wants Walt Disney Imagineering to build an immersive theme park ride based on the Razor Crest spaceship in the Disney+ show for the Star Wars: Galaxy’s Edge lands in Disneyland and Disney World.Favreau pitched the idea for a new Mandalorian ride during a wide-ranging interview with IMDB about the new third season of the popular Star Wars television show.Favreau would center the attraction on the Razor Crest spacecraft that served as the trusty transport and living quarters for Mandalorian Din Djarin and the Force-sensitive toddler Grogu. The former military craft was destroyed in the second season of “The Mandalorian” by Imperial forces. @imdb That’s a huge yes on rides that make you feel sick. #mandalorian #disneyworld #jonfavreau #kateesackhoff #imdb ♬ original sound – IMDb “I’d probably do something that’s very immersive,” Favreau told IMDB. “I’d probably do something with haptics worked in. I’d probably use assets that we us...

Single-family residence sells for $1.8 million in Oakland

Published Fri, 22 Nov 2024 01:20:47 GMT

582 Weldon Avenue – Google Street ViewThe historic property located in the 500 block of Weldon Avenue in Oakland was sold on Jan. 30, 2023. The $1,800,000 purchase price works out to $1,023 per square foot. The house built in 1922 has an interior space of 1,759 square feet. The property features three bedrooms, two baths, a garage, and one parking space. It sits on a 3,944-square-foot lot.Additional houses have recently been sold close by:A 2,491-square-foot home on the 3700 block of Lakeshore Avenue in Oakland sold in August 2022 for $1,600,000, a price per square foot of $642. The home has 4 bedrooms and 2 bathrooms.In December 2022, a 1,514-square-foot home on York Street in Oakland sold for $1,050,000, a price per square foot of $694. The home has 3 bedrooms and 1 bathrooms.On York Street, Oakland, in August 2022, a 1,501-square-foot home was sold for $1,205,000, a price per square foot of $803. The home has 3 bedrooms and 1 bathrooms. 

Mother arrested on suspicion of abandoning baby in California gas station trash can

Published Fri, 22 Nov 2024 01:20:47 GMT

A 25-year-old woman was arrested Friday morning, March 10, on suspicion of abandoning her newborn baby boy in a trash can at a Chevron gas station in Fullerton, authorities said.The Fullerton resident was arrested on suspicion of attempted murder and felony child abuse after Fullerton police served a search warrant in the 400 block of West Orangethorpe Avenue, about five blocks east of the station on the southeast corner of Orangethorpe and Euclid Street, Sgt. Ryan O’Neil said.Detectives found surveillance footage at the gas station that showed a physical description of the suspected mother and learned of possible vehicle information, which helped then identify the woman, O’Neil said.Related ArticlesCrime and Public Safety | Infant abandoned in restroom trash can at California gas station Crime and Public Safety | Mother and boyfriend convicted in torture-murder of 10-year-old California boy Crime and Public Safety | Bay Area probation offi...

Bay Area storm updates: Southbound 101 closed in Gilroy

Published Fri, 22 Nov 2024 01:20:47 GMT

(KRON) -- Rain continued in the Bay Area through Friday morning as the first in a series of atmospheric rivers hit the Bay Area. The storm is expected to continue through the weekend with another atmospheric river on deck set to begin next week. More: Here’s what to do if your house floods Stick with KRON4 for the latest updates on the storm. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now KRON4 Daily News SIGN UP NOW Bay Area storm updates:Friday, March 1011 a.m. -- Gilroy 101 closure updateUS 101 in Gilroy in the southbound direction is closed due to flooding from 10th Street to State Route 25, according to the CHP. "With the additional rains forecasted, there is an unknown ETA for reopening," the CHP advised. "Please drive slowly in inclement weather."10:45 a.m. -- Preside...

Conflicting Reports Thicken Nord Stream Bombing Plot

Published Fri, 22 Nov 2024 01:20:47 GMT

In the month since veteran journalist Seymour Hersh published his bombshell report alleging that President Joe Biden personally authorized a covert action to bomb the Nord Stream pipelines, we’ve seen a frenzy of speculation, detailed dissection of Hersh’s specific assertions, and the emergence of competing narratives both supporting and denouncing the report.The question of whether Hersh’s story is accurate — either in whole or in part — is of monumental significance, and there are some issues related to this story that have not received as much attention as they deserve. Among these are questions surrounding the legal and constitutional framework the Biden administration would have used if, as Hersh’s source alleges, Biden directly ordered the bombing of the Nord Stream pipelines. There is also an emerging counternarrative to Hersh’s reporting from U.S. intelligence that warrants scrutiny, both on its merits and for how it might relate to Hersh’s story.“A Pro-Ukrainian Group...

Longtime Chiefs wide receiver Otis Taylor dies at age 80

Published Fri, 22 Nov 2024 01:20:47 GMT

KANSAS CITY, Mo. (AP) — Otis Taylor, the longtime Kansas City Chiefs wide receiver who along with quarterback Len Dawson formed one of the NFL’s dynamic duos, died Thursday after more than a decade of health problems. He was 80.Taylor’s family, who had been caring for him as he dealt with Parkinson’s disease and dementia, confirmed that he had passed away a mere seven months after Dawson, his close friend and teammate.Taylor spent all 10-plus years of his career in Kansas City, where he was a fourth-round pick out of Prairie View A&M in the 1965 AFL draft. He went on to have two 1,000-yard seasons during an era in which the passing game was still evolving, and he finished his career with 7,306 yards and 57 touchdown catches.“Otis made my job easy,” Dawson once said. “If you got the pass to Otis, you knew he’d catch it.”Taylor is perhaps best remembered for the 46-yard touchdown pass in the 1970 Super Bowl that clinched the Chiefs’ victory over the V...