On today’s episode of the 5 Things podcast: Make Twitter private
What does Elon Musk’s plan to make Twitter private mean? Reporter Celina Tebor breaks it down. Add to that, Russia hits Kyiv during a UN visit, supply chain problems could rise again this fall, the NFL Draft kicks in and the New Orleans Jazz Fest returns.
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Taylor Wilson:
Good morning. I’m Taylor Wilson and here are 5 things you need to know Friday, April 29, 2022. What does it mean for Twitter to go private today? Plus, Biden wants more aid to Ukraine and beyond.
Here are some of the top titles:
- Inflation has hit a new record high for the 19 countries that use the euro. Annual inflation hit 7.5% in April in the Eurozone, the highest since statistics began in 1997 and a sixth consecutive record.
A Colorado inmate is the first in the US to test positive for the current strain of bird flu. The man had direct contact with infected poultry.
And James Corden is leaving The Late Late Show. He has hosted CBS’s talk show since 2015 and is leaving next year.
Elon Musk plans to make Twitter a private company after this $44 billion acquisition of the social networking platform. But what exactly does that mean? Correspondent Celina Tebor has much more.
Celina Tebor:
Basically, Elon Musk plans to make Twitter a private company after this $44 billion acquisition of the social networking platform. It’s hard to say if anything or many things will change for the average user. However, if he takes the company private, it basically means that he will have a lot more flexibility to be able to make changes in the company. When a company goes public, you are an authority figure with your shareholders and with the general public. So if you make a change to your company that is unpopular or people don’t like what you’re doing, your stock could go down and that could get really volatile. and very distracting. It forces a company to make decisions that are more focused on the short term to try to increase their prices than a decision that may not be popular in the moment but may be better in the long run and make the company more profitable. company is more valuable .
That could be one of the main reasons Musk is trying to take the company private. He hinted at making some big changes to Twitter. He said he wanted to add an edit button to tweets, end Twitter’s reliance on ads, and also expand freedom of expression. He can still do those things if the company is public, but if it is private, those changes and decisions will be easier for him.
Another big reason Musk might want the company to go private is because then he doesn’t have to deal with the SEC, which is the Securities and Exchange Commission. When you are a public company, you must report its financial documents. That could include risks to the company, any plans that could affect the company’s financial performance, and those plans are public, so anyone can see the reports. this financial statement. Musk himself has had some problems with the SEC in the past. In 2018, he said he had secured funding to take Tesla private, but that wasn’t true. The SEC charged him with securities fraud in a civil lawsuit because of those tweets. So that really had a negative impact on Tesla. Their shares fell a lot after the SEC statement. In the end, Musk had to pay a large fine, and he actually had to resign as Chairman of Tesla. It doesn’t seem like he’s a huge fan of the SEC in general. He has had legal problems with them in the past. So if he made Twitter private, he wouldn’t have to deal with them as much.
Taylor Wilson:
For Celina’s full story, check out today’s episode description.
Russia continued its assault on Ukraine across the country yesterday, including an attack on the capital of Kyiv, hitting a residential high-rise and another building, injuring at least 10 people. The attack came just an hour after President Volodymyr Zelensky held a news conference with United Nations Secretary-General António Guterres. Zelensky said the move showed Russia’s lack of respect for global institutions.
Taylor Wilson translates for Volodymyr Zelensky:
“Today, right after our talks in Kyiv, Russian missiles flew to the city, five missiles. This says a lot about Russia’s real attitude towards global institutions. , about the Russian authorities’ efforts to humiliate the UN and everything it stands for. It therefore demands correspondingly strong responses.”
Taylor Wilson:
Explosions were also reported in Chernihiv near the border with Belarus and Fastiv, a railway hub southwest of the capital. This move seems to indicate that Russia is not only focused on the East Donbas region, although fighting was intense there yesterday. Ukraine is urging its allies to send more military equipment, and President Joe Biden yesterday urged Congress to provide an additional $33 billion in aid to Ukraine.
Joe Biden:
The cost of this war is not cheap, but if we allow it to happen, it will cost more to invade. We support the people of Ukraine as they defend their country, or we stand with the Russians as they continue their brutality and aggression in Ukraine.
Taylor Wilson:
For all the latest on Russia’s invasion of Ukraine, follow our Live Updates page on USATODAY.com.
Retail inventories are set for this summer, but beyond that, new supply chains could cause headaches later this year. Money reporter Medora Lee has more than that.
Medora Lee:
I think this summer everyone is pretty safe. Retailers have told me they are well stocked. After the big Christmas rush, they were able to replenish their inventory pretty well. The only problem is that we will, like everything else, pay a higher price for things this summer. For example, on average, your 4th of July fireworks show will probably be about 15% more expensive than last year.
PJ Elliott:
What about after summer? What, what can we expect?
Medora Lee:
There was a bit of a problem when it came to brewing. Supply chains seem to have taken a turn for the worse in recent March due to the Ukraine war restricting supplies of raw materials to make everything and the lockdown in China with China’s no-COVID policy. They have locked down many areas in China, so that has made the supply chain a bit difficult. So that slows things down a bit. Retailers are now looking, as a precaution after last year’s Christmas meltdown, to try to start a little earlier to fill up Christmas inventory, if you can believe it. It’s just, what, spring, but they’re working on it. This is the wild card. Regardless of how they plan to do it and how much work they put into it, we could get another curveball if there’s a strike at the ports in LA. The workers there have contracts that expire at the end of June. If they don’t get their contracts, they can go on strike. Who knows what will be on our shelves this Christmas.
The first round of the 2022 NFL draft is in the books. The Jacksonville Jaguars went with Travon Walker overall, finishing defensively outside of Georgia. Michigan linebacker Aidan Hutchinson was second against the Detroit Lions, followed by LSU defensive back Derek Stingley, ahead of Houston Texans in third. For the biggest surprises of the night, Draft Wire’s Luke Easterling made sense of some extensive receiver movements.
Luke Easterling:
We expected a lot of these guys to go through in the first round, but we didn’t expect the movement we’ve seen outside of the draft with veteran recipients. We’ve seen Marquise Brown, which I mentioned earlier, travel to Arizona from Baltimore in a first pick-related deal this evening. Then we see another deal with Tennessee sending AJ Brown to Philly and he gets a new contract extension with the Eagles there, again, changing hands with a top 20 pick.
Well, again, the market is very receptive, this started earlier in the off-season when we saw deals for Davante Adams and we saw deals for Tyreek Hill. We get the situation of Deebo Samuel where he also wants a new contract in San Francisco. So the broad receiver market seems to be driving the whole thing. Widespread drafts start driving this whole thing tonight as we see Drake London leave the table in 8th place ahead of Atlanta, Garrett Wilson, once again, to the Jets in 10th. you see teams of transactions over and over. We thought for a long time that you could get a receiver anywhere. Now it’s becoming a premium position and I think it will be even more valuable for teams that don’t want to pay these big contracts to people coming to free agency, but want to spend Choose first for young men and get them with cheaper deals.
Taylor Wilson:
Tonight the Tampa Bay Buccaneers will open things up with their first pick in 33rd place overall and the start of the second round. You can watch the second and third rounds starting at 7:00 p.m. Eastern, 4:00 p.m. Pacific on ABC, ESPN, and the NFL Network.
The New Orleans Jazz and Heritage Festival is back. The film festival took a two-year hiatus because of the pandemic, but kicks off today with all sorts of big titles. They include The Who, Lionel Richie, Stevie Nicks, Willie Nelson, Foo Fighters etc. Jazz Fest celebrates the music and indigenous culture of New Orleans and Louisiana covering a wide range of genres such as R&B, Afro-Caribbean , bluegrass, and of course, modern and traditional jazz. There is also a custom that some people may find jazz funerals unusual. Musician Oscar Washington explains 2015.
Oscar Washington:
A jazz funeral is basically about the life of someone who has passed away, be it someone famous in the music world or in the business world or whatever, or just someone normal. It started to seem like it was a sad thing, it was a sad occasion, but a sad occasion turned into a joyful one. It is always said, if you cry when you were born into this world, it is a happy occasion when you leave. That’s basically the basics of a jazz funeral. It’s the moment you’re born, hard times in a harsh world, and when you’re back at the top, it’s a joy.
Taylor Wilson:
According to nola.com, one of those remembered for this year’s jazz funeral is George Wein, the founder of Jazz Fest who passed away last year. The festival starts today and runs until the end of Sunday before the second weekend from Thursday to next Sunday. You can read more at USATODAY.com/entertainment.
Taylor Wilson:
Thank you for listening to 5 Articles. You can find us on any of your favorite podcast apps seven mornings a week. Thanks to PJ Elliott for his amazing work on the show and I will be back tomorrow with 5 more from USA TODAY.
