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Philadelphia City Council Votes 14-1 To Ban Safe Injection Sites

Philadelphia City Council Votes 14-1 To Ban Safe Injection Sites

It is possible that the far left sociopaths running most major American cities…

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Philadelphia City Council Votes 14-1 To Ban Safe Injection Sites

It is possible that the far left sociopaths running most major American cities have finally had enough?

That could be the case in Philadelphia, where hours after large portions of downtown were ransacked and looted as part of "protests", the city's town council voted to ban safe injection sites from opening up in the city.

Councilmember Quetcy Lozada told CBS Philadelphia, who reported the decision: "This is a ban on being able to put a center like this one in a community."

"This bill puts the decision in the hands of people, the people who live there and would be directly impacted by it," Lozada added. 

The bill "creates a zoning rule in nine of 10 city districts prohibiting the sites", CBS Philadelphia reported. The 14-1 vote overrode a veto by far left Mayor Jim Kenney, the article says. 

Now, organizations would have to get a zoning variance for such a facility, and that would require community approval, the report says. 

But the ban wasn't without its opponents, with some in the city coming before the city council to argue the need for such sites. 

Holiday Davis, of the Soul Collective (whatever that means), stated: "Overdose prevention sites offer an opportunity to bring those activities inside, offer safe disposal of needles and other litter, and offer pathways to medical care and drug treatment. And most importantly, save lives."

Kensington resident Moses Santana added: "It's gonna get people off the streets. It's going to get people out of the park, get needles off the street, get people into treatment."

Councilmember Jim Harrity was one of several to retort, stating: "The way we do that is through long-term recovery. Not giving them a space where they can continue to harm themselves."

Lozada concluded: "Push for enforcement in that community. We need to bring back the conversation of prevention and recovery."

Tyler Durden Fri, 09/29/2023 - 17:20

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Macro: Empire State Manufacturing Survey

Our first look at October numbers. Similar to the consumer sentiment report, we did see a down tick from last month and the survey did go back into negative…

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October 16, 2023

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Our first look at October numbers. Similar to the consumer sentiment report, we did see a down tick from last month and the survey did go back into negative territory. But, from a broader perspective we are still trending positive off the lows at the end of 2022.

 

 

Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any investment products. None of the information herein constitutes an investment recommendation, investment advice or an investment outlook. The opinions and conclusions contained in this report are those of the individual expressing those opinions. This information is non-tailored, non-specific information presented without regard for individual investment preferences or risk parameters. Some investments are not suitable for all investors, all investments entail risk and there can be no assurance that any investment strategy will be successful. This information is based on sources believed to be reliable and Alhambra is not responsible for errors, inaccuracies, or omissions of information. For more information contact Alhambra Investment Partners at 1-888-777-0970 or email us at info@alhambrapartners.com.

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$200 million in Bitcoin leaves exchanges amid ETF hearsay

Quick Take Over the course of Oct. 16, a total of 7,000 Bitcoin, worth roughly $200 million, vacated exchanges. While some movement may be in response…

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33 mins ago

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October 16, 2023

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Quick Take

Over the course of Oct. 16, a total of 7,000 Bitcoin, worth roughly $200 million, vacated exchanges. While some movement may be in response to a recent wave of misinformation regarding the approval of a Bitcoin spot ETF, the flurry of on-chain has persisted both before and after.

This movement was accompanied by a notable contraction in open interest, representing the total funds allocated in open futures contracts. Initially standing at $11 billion, open interest took a hit of over $1 billion, plunging to a little above $10 billion.

Open Interest: (Source: Glassnode)
Open Interest: (Source: Glassnode)

The ripple effects didn’t stop there. In the past 24 hours, there has been a liquidation of $183 million in the crypto market, with Bitcoin accounting for over $100 million of this total. More than $80 million of these Bitcoin liquidations were in the form of short liquidations, marking the largest such event since August 17.

Liquidations: (Source: Coinglass)
Liquidations: (Source: Coinglass)

The post $200 million in Bitcoin leaves exchanges amid ETF hearsay appeared first on CryptoSlate.

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Starboard Value Takes Position in News Corp, Eyes Strategic Changes

Starboard Value Takes Position in News Corp, Eyes Strategic Changes

Activist hedge fund Starboard Value has acquired a position in News Corp.,…

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33 mins ago

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October 16, 2023

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Starboard Value Takes Position in News Corp, Eyes Strategic Changes

Activist hedge fund Starboard Value has acquired a position in News Corp., aiming for strategic and governance changes within Rupert Murdoch's media empire.

The $8 billion New York-based fund, led by Jeff Smith, "believes News Corp., one of the two arms of Rupert Murdoch's media empire, trades at a significant discount to its fair market value due to its conglomerate structure," according to The Wall Street Journal, citing people familiar with the matter. 

The people said Starboard's stake in News Corp. is "sizeable" but provided no additional information on how large. Reuters first reported Starboard's stake last Friday. 

Starboard began building a stake in News Corp. over the summer, before Murdoch, 92, announced on Sept 21 that he would step down as chairman, leaving his son Lachlan as sole chair, the sources said. -Reuters 

WSJ said Starboard would ask News Corp. to spin off its digital real estate division, which includes a stake in Australian online property site operator REA Group and Realtor.com parent Move Inc. 

Starboard argues that News Corp.'s Dow Jones business, the publisher of the Journal, Barron's, and MarketWatch, is worth upwards of $7 billion.  

Smith also plans to push News Corp. to do away with its dual-class share structure, which ultimately gives the Murdoch family more voting power in excess of their actual ownership. 

Reuters said Smith will present his ideas of reshaping News Corp. at two investor conferences this week, including Tuesday's 13D Monitor Active-Passive Investment Summit. 

Last month, Murdoch, News Corp.'s executive chairman, said he would formally resign at a shareholder meeting in November. His elder son, Lachlan Murdoch, who has served as co-chair of News Corp, will become sole chair of that company and continue as Fox Corp. executive chair and CEO. 

Earlier this year, News Corp. CEO Robert Thomson reduced headcount by 5% or around 1,250 positions.

There has been another activist fund, Irenic Capital Management, in News Corp., which has also been pushing the company to separate the digital media business from its digital real estate assets. 

Besides News Corp., Starboard Value took a stake in Salesforce one year ago, calling for the cloud software company to increase its margins. 

News Corp shares are down about a quarter since peaking around $27.44 in May 2021. 

And Starboard Value believes shares trade at a significant discount due to its structure. 

Tyler Durden Mon, 10/16/2023 - 13:10

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