Slync founder Chris Kirchner, second from left, played in the LIV Golf Invitational at the Centurion Club in St. Albans, England, in 2022 as his company failed to pay its employees.
Aitor Alcalde/LIV Golf/Getty Images
Founder Chris Kirchner was sentenced to 20 years in prison for using startup funds for personal use.
Prosecutors contended Kirchner bought a $16 million private jet, among other extravagant purchases.
The supply chain tech startup Kirchner founded, called Slync, shut down in October 2023.
Chris Kirchner, a startup founder convicted of defrauding investors, money laundering, and wire fraud, was sentenced to 20 years in federal prison Thursday after using $25 million of his funders' cash for personal use, according to court documents.
Kirchner, 36, founded a supply chain tech startup called Slync, raising more than $50 million from venture investors, including Goldman Sachs, between 2018 and 2021. According to the prosecutors, he transferred millions of the company's funding to himself in 100 separate transactions, funneled through multiple accounts. He also wired $20 million directly to his own checking account, according to the US Attorney's office in the Northern District of Texas.
In addition to prison time to be served in the Dallas, Fort Worth area, Kirchner was ordered to pay $65,415,938.12 in restitution. The judge did not hand down a fine as "the defendant does not have the financial resources or future earning capacity to pay a fine," according to the sentencing documents.
"Even as his company was circling the drain, Chris Kirchner was spending millions of his investors' money on himself," said Leigha Simonton, US Attorney for the Northern District of Texas, in an email statement. "Apparently, projecting personal prosperity was more important to him than making payroll. His duplicity earned him 20 years in prison. We are proud to hold him accountable for his crimes and are committed to pursuing all businesspeople engaged in criminal conduct."
In June 2022, some staff at Slync told BI they hadn't received their pay for weeks. At the time, Kirchner insisted the company was financially viable. In the weeks prior, he vied to purchase an English football club, Derby County, causing a stir among fans of the club on social media and in the sports press.
The startup also drew attention for participating in expensive sports sponsorships, including a five-year deal to sponsor the DP World Tour Desert Classic golf tournament, which is uncommon for a startup.
Kirchner eventually withdrew his offer for the football club and blamed his company's payroll issues on software providers. The golf deal was soon terminated as well.
The FBI raided Kirchner's West Lake, Texas, home in February 2023. He was then charged with securities fraud and arrested. He was indicted in May of last year and further charged with defrauding investors in January 2024.
Kirchner's lawyers did not immediately respond to a request for comment.
Last year's strike has led to fewer big-budget movies being released.
The rise of streaming has also made people more reluctant to get to the theater.
This year has not been great for the box office. In fact, Memorial Day was the worst weekend for the movies since the '90s. The entire domestic box office pulled in just $126 million — in years past, the No. 1 movie alone has made as much as $160 million, as "Top Gun: Maverick" did in 2022.
A few factors have led to this. Mainly, the WGA/SAG strikes last year put many productions on pause, so some of the bigger movies won't come out until later in the year.
Another factor is streaming and VOD. "Furiosa," which came out a little over six weeks ago, is already available to rent at home. For a family, it's cheaper to spend $30 to rent something at home than $50-plus on tickets, snacks, and drinks.
And finally, people apparently just aren't convinced they need to see some of these films on the big screen. Why go see Kevin Costner's new Western when you can watch him in "Yellowstone" at home?
Not all movies have bombed this year — "Inside Out 2" has pulled in $1.2 billion worldwide, a record for Pixar, Forbes reported — but these films performed much worse than anticipated.
"Horizon: An American Saga — Chapter 1" bombed so badly that the sequel was taken off the release calendar.
"Horizon: An American Saga — Chapter 1."
New Line Cinema
"Horizon" was a huge gamble for its star/director/writer/producer, Kevin Costner. Costner mortgaged his home in Santa Barbara and invested $38 million of his own fortune to fund the film.
It's an ambitious task — Costner sees "Horizon" as a four-part series that he planned on releasing over the course of a few months. "Chapter 1" was released in June and made $11 million on its first weekend. A rough start for a movie that cost as much as $100 million to make.
New Line, its distributor, apparently agreed. "Chapter 2" was supposed to hit movie theaters on August 16, but the sequel was pulled from the schedule and now sits in limbo.
"Furiosa" opened to a bleak $32 million over the four-day Memorial Day Weekend.
Anya Taylor-Joy in "Furiosa."
Warner Bros.
As The Wrap pointed out, "Furiosa's" $32 million opening weekend is the lowest No. 1 total for a Memorial Day Weekend since 1995, when "Casper" topped the box office with $22 million.
Another depressing stat for the "Mad Max: Fury Road" prequel? According to Screen Rant, it had the worst second-week drop of any "Mad Max" movie, plunging a staggering 59%.
Now, why exactly is "Furiosa" flopping so hard? It might be a case of unreasonable expectations. "Fury Road" is rightfully hailed as one of the best action movies of all time, but it didn't light the box office on fire at first either. Its domestic opening in 2015 was $42.4 million, ending up at a respectable $380 million worldwide.
Also, Anya-Taylor Joy (who plays the titular Furiosa) is famous but not a definite movie star yet — arguably, her big break was for a TV show ("The Queen's Gambit"), and her last big cinematic hits ("Dune: Part Two" and "The Menu") were sold on bigger stars like Timothée Chalamet, Zendaya, and Ralph Fiennes.
By July, the film hadn't crossed the $175 million mark worldwide.
"The Garfield Movie" has not been as successful as "Kung Fu Panda 4."
"The Garfield Movie."
Sony Pictures Releasing
We can't only blame "Furiosa" for the abysmal Memorial Day box office. The other film that opened as counter-programming that weekend was "The Garfield Movie," the second animated adaptation of everyone's favorite grumpy cat.
The film, which stars Chris Pratt as Garfield, made just $31 million on its opening weekend. So, between "Garfield" and "Furiosa," the top two movies at the box office made a total of $63 million.
For context, the No. 1 movie at the box office last Memorial Day weekend was "The Little Mermaid," which made $118 million.
After the billion-dollar success of "The Super Mario Bros. Movie" (also starring Pratt), "Garfield" simply couldn't measure up. The other big animated movie of the year, "Kung Fu Panda 4," opened to $57 million and has made $541 million worldwide.
When "Inside Out 2" was released, that's when it was truly curtains for Garfield. The Pixar sequel has already made $1.2 billion worldwide, making it the highest-grossing movie of the year.
"The Fall Guy" didn't light up box offices in the way some thought it would.
Ryan Gosling and Emily Blunt in "The Fall Guy."
Universal
An action rom-com led by the two of the stars of last year's box-office phenomenon, Barbenheimer? You'd think that'd be a no-brainer smash, but "The Fall Guy" hasn't lived up to those lofty expectations.
Variety reported that the film was projected to debut between $30 and $40 million, but it made just $28.5 million. At this point, it's made $177 million worldwide.
As Business Insider's Jason Guerrasio noted before the film premiered, this May was the first time in 17 years (excluding 2020) that a Marvel movie of some kind hasn't kicked off the summer. Last May's Marvel film, "Guardians of the Galaxy Vol. 3," made $118 million domestically in its opening weekend.
With that looming over its head, it's no surprise that "The Fall Guy," based on the little-remembered '80s TV show of the same name, couldn't measure up.
"Argylle" has made less than half its budget back.
Henry Cavill as Agent Argylle in "Argylle."
Peter Mountain/Universal Pictures, Apple Original Films, and MARV
Put aside the deeply annoying "Who is the real Agent Argylle?" marketing campaign and think about how wild this is: "Argylle," an action spy-thriller starring Oscar-winner Sam Rockwell, former Superman Henry Cavill, the former star of a multi-billion-dollar franchise Bryce Dallas Howard, living legend Samuel L. Jackson, comedy icon Catherine O'Hara, beloved actor Bryan Cranston, and current pop star Dua Lipa couldn't crack $100 million at the box-office.
Compare that to the $200 million it cost Apple to make, as reported by Indiewire, and that's a true box-office bomb, even if Apple claims otherwise.
"Madame Web" solidified that the Sony Spider-Man Universe is truly in trouble.
Dakota Johnson as Cassandra Webb in "Madame Web."
Jessica Kourkounis/Sony Pictures
If you're unfamiliar with the Sony Spider-Man Universe (or the SSU), here's a quick explanation: Marvel (and, therefore, Disney) now owns the rights to almost all of its comic characters. The one property it can't get back? Spider-Man and all his related villains, friends, and love interests, which are still owned by Sony.
Although Sony and Disney have agreed on a deal that allows Spidey to appear in the MCU, Sony is still holding tight to the rest of his associates, which is how we end up with films like "Venom," "Morbius," "Kraven the Hunter," and yes, "Madame Web."
Why Sony thought this movie was a good idea is beyond us — Madame Web is a little-known character (and matters even less without, you know, Spider-Man around to help save the day), and star Dakota Johnson hasn't proven herself to be a cinematic draw outside IP-driven properties like "Fifty Shades of Grey," which made a combined $1.3 billion worldwide.
With a dismal worldwide box office of $100 million, all that the SSU has proven is that these movies make for good memes.
"The First Omen" also underperformed against initial box-office predictions.
Nell Tiger Free as Margaret in "The First Omen."
Moris Puccio/20th Century Studios
"The First Omen" is by no means a huge disappointment for 20th Century Studios — it's made $53 million worldwide against a $30 million budget — but it wasn't the hit you might've expected from one of the most iconic franchises in horror history.
Variety even reported that projections expected the film to make $14 to $15 million on opening weekend. It made a little over half that: just $8.3 million.
"The Ministry of Ungentlemanly Warfare" was 2024's second movie starring Henry Cavill to flop.
Henry Cavill as Gus March-Phillipps in "The Ministry of Ungentlemanly Warfare."
Daniel Smith for Lionsgate
Director Guy Ritchie's latest film is about Winston Churchill's secret special forces team that operated in World War II. This team would perform top-secret missions to take down the Nazis — it's destined to become a No. 1 dad movie in the future.
But for now, this film starring Cavill, Eiza González, Alan Ritchson, and Henry Golding will be known as a movie that cost $60 million to make, according to Variety, and earned just $27 million.
It's been a rough few years for Cavill post-"Justice League" in 2017. He began starring in "The Witcher" in 2019 (a very successful show by all accounts), only to leave after season three. It's never been officially announced why he left, but the timing did line up with his cameo as Superman in the DCEU film "Black Adam" in 2022.
And now, Cavill's last two films since his last appearance as Superman in "The Flash" have bombed.
"The Book of Clarence" made just 15% of its budget back.
LaKeith Stanfield in "The Book of Clarence."
TriStar Pictures
"The Book of Clarence" is an alternate-history biblical comedy that posits the existence of a 13th Apostle, Clarence.
"The Book of Clarence" is only director Jeymes Samuel's second film. His first, "The Harder They Fall," was a critical success and enjoyed by viewers, but it debuted on Netflix, so it was hard to gauge what the box office would be like for his follow-up.
It turns out that biblical comedy doesn't go over as well as a Western. According to Variety, "The Book of Clarence" cost $40 million to produce and made only $6.2 million worldwide.
"Lisa Frankenstein" made less than $10 million worldwide.
Kathryn Newton and Cole Sprouse put a twist on a classic in 'Lisa Frankenstein.'
Michele K. Short/2024 Focus Features LLC
Cole Sprouse and Kathryn Newton have been tapped as potential movie stars in the next generation of Hollywood and have each been in successful films.
However, their star power and the value of "Frankenstein" as intellectual property didn't help this '80s teen comedy earn money.
Even though it was a relatively cheap film to make at just $13 million, according to Variety, it couldn't crack double digits at the box office. It made only $9.9 million.
"Drive-Away Dolls" is the lowest-grossing film directed by a Coen brother in 33 years.
Margaret Qualley and Geraldine Viswanathan in "Drive-Away Dolls."
Focus Features
"Drive-Away Dolls" was directed by Ethan Coen and was the first film he directed on his own without his brother, Joel (excluding the 2022 documentary, "Jerry Lee Lewis: Trouble in Mind").
It was also the first Coen film to make less than $10 million since 1991's "Barton Fink," which made $6.2 million to "Drive-Away Dolls'" $6.8 million. The Coens have since made 14 films, some of which made as much as $252 million ("True Grit").
There’s an ASX dividend stock on the market right now that, until very recently, was yielding close to 5%. This particular ASX 200 blue chip has rallied significantly over the past few weeks, which has now pushed down its dividend yield closer to 4.5%. But at the price I paid for this stock, I am indeed enjoying a dividend yield of well over 5%.
That ASX dividend stock is none other than Telstra Group Ltd (ASX: TLS). Although Telstra shares are not a huge part of my overall ASX share portfolio, they do occupy a small corner of it. And I am happy to keep it there.
Telstra went through a major correction in 2023. The ASX dividend stock was asking north of $4.30 this time last year. But in August, Telstra revealed that it would be keeping some of its valuable infrastructure assets in-house, bucking the expectations of a sell-off by the markets.
Investors were not impressed at the time and punished Telstra by slowly dropping its share price. By May of this year, the telco had hit a new 52-week low of just $3.39 a share, a fall of more than 20% from last year’s highs.
Buying an ASX dividend stock when it’s down
But far from despairing, I picked up some extra shares. I thought the market’s reaction to Telstra’s infrastructure announcement was vastly overcooked. After all, is it really a bad thing if a company decides to retain some of its most valuable assets?
At the current Telstra share price, this ASX dividend share is sporting a yield of 4.58%. That comes from the company’s last two dividend payments.
Telstra stock paid a final ASX dividend of 8.5 cents per share last September, followed by an interim dividend of 9 cents per share in March. As is typical with Telstra’s payouts, both dividends came with full franking credits attached.
Telstra might be offering a yield of 4.58% today. But back in May, investors could have got in when this ASX dividend share was sporting a yield of 5.16%. If one includes the value of those full franking credits, that yield grosses up to an even more impressive 7.37%.
This shows that ASX investors have much to gain by buying a quality dividend share when the market is shunning it.
I think the recent Telstra share price rally has vindicated this contrarian outlook. This telco’s shares have been rallying for around a month now, but buying accelerated ever since Telstra revealed it would be increasing its mobile pricing across the board earlier this week.
Telstra announced that its mobile plans would be rising by around 4% from August, with most plans increasing by between $2 and $4 per month. These rises will also take effect for Telstra’s value-conscious Belong brand.
It takes a lot of work and cost to run a mobile network as large as ours, and even more to support the increased usage we have seen on our network.
The investments we make in our mobile network don’t just help to keep your phone connected to your favourite content and apps. We know those are important, but our network does so much more every single day…
These price changes help us to keep investing in mobile coverage, performance and local support, as well as ongoing investments to improve the security of our services. We monitor our network 24/7 to help protect against scams by blocking malicious calls and texts from reaching you.
Moats and dividends
I think this decision demonstrates the presence of a wide economic moat for Telstra. A ‘moat’ is a term first employed by legendary investor Warren Buffett. It refers to an intrinsic competitive advantage a company can possess that helps protect its profits from competitors – in much the same way as a moat protected a castle back in days of yore.
A moat can be anything from a pricing advantage to a powerful brand. However, in Telstra’s case, I believe its superior network forms the backbone of its moat. Many customers, particularly Australians who live in rural or regional areas, simply have to use Telstra’s network because no other provider services them.
So, while Telstra’s pricing increases won’t be welcomed by customers, they will probably be accepted. That is a moat in action. It seems the market agrees with this sentiment too, given that this ASX dividend stock has rallied more than 3% this week in light of this announcement.
When it comes down to it, I am happy to own Telstra stock in my ASX portfolio. This company may not deliver life-changing wealth, but it does deliver hefty, reliable dividend income and franking credits like clockwork, and that’s worth a lot to me.
Should you invest $1,000 in Telstra Corporation Limited right now?
Before you buy Telstra Corporation Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Telstra Corporation Limited wasn’t one of them.
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Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
They're running below 100,000 units a quarter, Bloomberg reported Thursday, citing a report from market intelligence firm IDC. That means Apple's $3,500 mixed-reality headset, which debuted in the US in February, is way behind Apple's other big product launches, like the iPhone, which sold a million devices within 75 days of its 2007 launch, and the iPad, which sold more than 300,000 devices on the first day of its US launch in 2010.
IDC estimates Apple will sell fewer than 500,000 Vision Pro units for the entire year. That's down sharply from what the Financial Times reported was Apple's initial sales target of 1 million.
As sales don't look promising stateside, Apple recently announced it's making the Vision Pro available outside the US. It started with China, Japan, and Singapore in late June and will continue with Canada, France, Germany, Australia, and the UK this month.
Some analysts have predicted that the Vision Pro may not become a bigger hit until Tim Cook's Apple comes out with a cheaper model.
Bloomberg reported last year that Apple was already working on two follow-ups to the $3,500 Vision Pro. One high-end model would have even faster processing abilities, while a cheaper version would likely drop the "Pro" in its name and have some trade-offs for the lower price, according to Bloomberg.
Apple did not immediately respond to a request for comment.
A joint mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities has been studying tombs in Aswan, Egypt for several years, learning much about how the people lived and died.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
Archaeologists recently found evidence of the diseases the inhabitants had when they died.
Experts have excavated only a fraction of the necropolis, with hundreds of tombs still unexplored.
Egyptians were mummifying their dead long before the time of the pyramids. And some of those tombs remain today, filled with food, art, treasure, and bodies that are still well-preserved more than 2,000 years later.
A hillside cemetery in Aswan, Egypt is one such place. Not far from the Nile, the ancient necropolis offers a place to "better know our ancestors and the people of the past, who are not so different from us," Egyptologist Patrizia Piacentini told Business Insider.
Piacentini is part of an excavation team who's been studying the tombs as part of a joint project between the Egyptian Ministry of Tourism and Antiquities and Italy's University of Milan for the past several years.
The team has uncovered many amazing finds, including a stretcherthat may have been used to carry bodies into the tombs and jars of bitumen, a tar-like substance that was sometimes used in mummification.
Most recently, the excavators have turned their focus to the mummified remains. Using X-rays and CT scans on the bodies, they've discovered how some likely died. Even among the wealthy elites, anemia, malnutrition, and other diseases, were common, the team found.
Photos from the site show how the team excavates the ancient tombs and some of the artifacts and mummified bodies they've found.
The necropolis is located near the modern-built mausoleum of Aga Khan.
The necropolis containing hundreds of tombs is located near the more recently built Aga Khan mausoleum.
Insights/Universal Images Group via Getty Images
Thousands of years ago, locals cut the tombs into the hill's rock. They used the area as a cemetery for nearly a millennium, starting in the 6th century BCE, centuries before the construction of Egypt's pyramids.
The necropolis is enormous, covering over 1 million square feet, the size of about 17 American football fields, and scientists have only searched about 33 of the estimated 300 to 400 tombs.
The necropolis was built for the upper classes.
Ancient Egyptians cut the tombs into the hillside's rock.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
The hill contains between eight and 10 terraces, or levels, with the wealthiest members of society interred at the top.
"We have, for example, a general of the army of Aswan and the administrator of temples," Piacentini said. "So very, very high positions." The funerary equipment in these tombs tends to be more valuable too, she said.
The tombs don't have evidence of the poorer classes, Piacentini said. They would have likely been buried in simpler tombs in the desert.
Thieves looted the tombs, stealing many valuable items.
This cartonnage was a chest covering for mummified remains.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
The joint team of excavators aren't the first to discover this ancient site. These upper-class tombs were likely once filled with objects made of precious metals and other valuable items, but the researchers rarely find anything of the sort. Centuries ago, grave robbers probably removed them, Piacentini said.
However, there are still plenty of items for Piacentini and her team to explore, including wooden statues, clay figurines, oil lamps, and other objects.
One common item in many of the tombs is cartonnage, a kind of plaster made of papyrus. Ancient Egyptians often covered bodies in casts made from the plaster and decorated them. This image shows a cartonnage chest covering found in the tomb.
These days, there's a market for stolen cartonnages, and illegal excavators were targeting the tombs before the Egyptian government took over the site, Ahram Online reported in 2015.
Items remaining in the tombs offer valuable insights about the dead.
Scientists can learn a lot from a cartonnage like this mask, which thieves from antiquity often left behind when they looted gold and jewels.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
In addition to cartonnage masks like the one pictured here, the citizens of Aswan would stock their relatives' tombs with sycamore figs or dates left in vases.
"These were the offerings brought to the dead," Piacentini said.
It takes a team of researchers to excavate a tomb.
Excavating the tombs in Aswan has been a slow process.
Marco Giustinoni/Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
Chemists, paleobotanists, and bioarchaeologists are looking at every aspect of the tombs, from mummy wrappings to plant remains to animal bones.
"Our mission is an interdisciplinary mission," Piacentini said, adding that there's still much more to be learned.
The process is so slow and careful that the team can only study a handful of tombs a year, Piacentini said.
Experts use technology to virtually unwrap mummified remains.
Scientists no longer unwrap mummified remains and instead use tools like CT scans to learn more about them.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
Early excavators used to remove wrappings from bodies to examine them. Now, experts use CT scans and X-ray machines to "virtually unwrap" mummified remains.
This can help researchers learn new information about mummification techniques. For example, two children had rods between their vertebrae to help keep their bodies perfectly straight after death, Piacentini said.
Even the wealthy and privileged couldn't escape from a host of diseases.
The experts have learned a lot about the sorts of diseases the region's inhabitants had when they died.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
Early results from some of the experts' research revealed that between 30% and 40% of the people in the tombs were children, from newborns to teenagers.
Many of the people, including the wealthy, showed signs of anemia, malnutrition, and other diseases. Entire families may have died from tuberculosis, according to the researchers.
In addition to disease, childbirth was another common cause of death, for both the mother and baby, across all social classes.
The necropolis is a city for eternity.
The EIMAWA plans to continue to excavate the tombs because they've only studied a small fraction of them.
Mission of the University of Milan and the Egyptian Ministry of Tourism and Antiquities (EIMAWA)
While some refer to the Aswan necropolis as a "city of death," Piacentini prefers to think of it as a city for eternity. "They wanted to live forever," she said. "And they did because we discovered them. We studied them."
And there's enough of the necropolis left unexplored that the excavations will continue, too. "It'll last forever," she said.
US Navy photo by Mass Communication Specialist 3rd Class Robert S. Price/Released
Several NATO allies have agreed to design long-range missiles to strengthen their militaries.
It comes on the heels of a joint plan to deploy US long-range capabilities in Germany.
In both cases, European allies are recognizing critical gaps in their long-range weapon arsenals.
Several NATO allies have agreed to a plan to develop new long-range missiles that are intended to fill capability gaps that have become increasingly noticeable as Russia wages its war in Ukraine.
Following an announcement the day before on deep-strike deployment plans involving the US and Germany, the latest move further signals Europe's recognition of gaps in its arsenal and its desire to develop that capability to deter an aggressive Russia.
On Thursday, France, Poland, Germany, and Italy signed onto an initiative focusing on developing "long-range and deep-fire capacity," said French Defense Minister Sebastien Lecornu during the NATO summit on Thursday, per Bloomberg's reporting.
The new initiative among these NATO allies is focused on developing ground-launched cruise missiles with ranges is excess of 500 kilometers. Lecornu explained that "this is clearly a segment we don't have."
SM-6 missile fired by a US Navy warship
US Navy/Lt. Zachary Anderson
While details on the arrangement are still unclear, Lecornu suggested other allies could join in the weapon's development and that the missile would ultimately serve as a deterrent.
"The idea is to open it up as widely as possible," he said, according to reporting from Reuters, adding, "It has value, including on a budgetary level, because it obviously also allows the various costs to be amortized."
Lecornu shared a picture of him and his German, Italian, and Polish counterparts signing the letter of intent on X, writing: "The war in Ukraine shows that long-range strikes are a key issue for the defense of Europe."
La guerre en Ukraine montre que les frappes longue portée sont un enjeu clé pour la défense de l'Europe.
Au sommet de l'OTAN à Washington, signature d'une lettre d'intention 🇫🇷🇩🇪🇮🇹🇵🇱 pour initier une coopération dans ce domaine mobilisant notre industrie de défense européenne. pic.twitter.com/NfZMM1QSIP
The joint initiative comes a day after the US announced plans to deploy new long-range capabilities in Germany as part of a joint effort to bolster its deep-strike options. The "episodic deployments" will begin in 2026 "as part of planning for enduring stationing of these capabilities in the future," the US and Germany said.
The conventional long-range fires will include new SM-6 and Tomahawk capabilities, as well as unspecified developmental hypersonic weapons. These "have significantly longer range than currently lang-based fires in Europe," the two allies added.
In both cases, the shift toward improving long-range capabilities on European soil further signals NATO's understanding of critical gaps in its arsenal highlighted by the Ukraine war.
Army Tactical Missile System fired in New Mexico.
White Sands Missile Range/John Hamilton
Ukraine has used Western-provided tactical ballistic missiles like the Army Tactical Missile Systems (ATACMS) and Storm Shadow cruise missiles to strike into Russian-occupied territory such as Crimea but is short on true deep-strike capabilities. Russia, meanwhile, has regularly used its arsenal of long-range ballistic and cruise missiles to devastate Ukrainian cities and critical infrastructure.
Experts have assessed that while many European states have long ignored the importance of long-range strike options, the war in Ukraine is prompting them to pursue new surface-to-surface strike capabilities and prioritize the development of such weapons.
The US, too, is hard at work on long-range ground-based capabilities in the wake of its 2019 withdrawal from the INF Treaty, which it accused Russia of violating.
The US is fast-tracking development of the Typhon Mid-Range Capability, which uses a ground-based launcher to fire the Standard Missile 6 and Tomahawk, and the Army's Long-Range Hypersonic Weapon.
Responding to US plans to deploy deep-strike capabilities in Germany, among other NATO actions, Kremlin spokesperson Dmitry Peskov said: "This is a very serious threat to the national security of our country."
"All of this," he said, "will require us to take thoughtful, coordinated, effective responses to deter NATO, to counteract NATO."
WhatsApp's new TV ads feature the cast of "Modern Family," including Ty Burrell and Julie Bowen.
Meta
Sometimes you can do tech reporting by talking to sources or scouring documents.
Other times you can do it just by watching TV.
For instance: Meta is running new WhatsApp ads featuring the cast of a defunct sitcom. That tells you a lot about where it wants to find growth.
Ten years ago, Meta bought WhatsApp for some $21 billion. How's it going today?
That's a reasonable question, but if you go looking for answers in Meta's financials, you won't find many: The company blends WhatsApp's metrics with those from Instagram and Facebook, so there's very little specific data available. A few years ago, it announced that WhatsApp had 2 billion users around the world, and that's about it.
On the other hand! You can learn quite a bit about WhatsApp simply by watching TV. That's where Meta has started running ads promoting the messaging platform, using the cast of "Modern Family," the long-running sitcom.
This isn't the first time Meta has advertised WhatsApp on TV. A couple of years ago, it ran spots playing up WhatsApp's privacy advantages, focused on ideas like "end-to-end encryption."
But the current crop of spots is much, much more simple and direct: They tell you that WhatsApp is an app you can use to send messages. And that if some of your friends and family have iPhones and others use Androids, it will work really well without the dreadedblue/green bubble issues.
One version I've seen running on Hulu even included a QR code you could use to help download the app.
Combine that messaging, along with the messengers — the cast of a broadcast TV sitcom that was very, very popular yet never discussed by people who use terms like Prestige TV — and you can draw some pretty basic conclusions: While WhatsApp is very big outside the US, Meta thinks it has an opportunity find more users in America — especially those who live in flyover country instead of big coastal cities.
I ran that thesis by Carl Woog, who runs comms for WhatsApp, and he … said I had it right: WhatsApp thinks middle America is a growth market. Particularly with older users.
Woog said the ads, which started running last month, often around big national events like the NBA finals, are aimed at people who don't live in big cities like Miami, New York, and Seattle, where WhatsApp is strongest in the US.
And he says that WhatsApp also does best with users under the age of 35 — which is why these ads are aimed at older would-be users, and why they employ the cast of a broadcast TV show that stopped running in 2020.
Oh. And I did get one data point out of Woog: He says that WhatsApp's US year-over-year growth rate is running above 10%.
So there you go: Sometimes it still pays to watch TV.
Francis Ford Coppola said he was inspired to create the All-Movie Hotel during the production of his newest film "Megalopolis."
The Family Coppola Hideaways
Francis Ford Coppola opened a filmmaker-focused hotel in Peachtree City, Georgia.
The hotel, part of The Family Coppola Hideaways, features 27 rooms and post-production facilities.
Coppola was inspired to create the hotel during the production of his new film, "Megalopolis."
A film-production site and hotel in one, Francis Ford Coppola's new All-Movie Hotel is a filmmaker's haven and a cinephile's dream.
Located in Georgia, the hotel — which we spotted via Gizmodo — is the newest addition to The Family Coppola Hideaways, a collection of resorts in Belize, Guatemala, Argentina, and Italy.
With state-of-the-art post-production facilities and 27 rooms personally designed by Coppola, the hotel caters specifically "to the needs of filmmakers," the website says.
Coppola said he was inspired to build the hotel in Peachtree City, located around 30 miles from Atlanta, after spending two years in the area shooting his latest project, "Megalopolis."
"When I didn't want to think about the movie, I would think about this hotel," he said. "And when I didn't want to think about the hotel, I would think about the movie."
Georgia's film industry generated an estimated $4.1 billion in production expenditure in 2023 and contains multiple production facilities, including those responsible for many of Disney's Marvel movies.
However, Coppola said the lack of spaces specifically for post-production inspired him to create a facility with an "intimate connection" between luxury accommodations and post-filming studios like editing suites and sound studios.
The director vouched for the facility's quality, revealing that "Megalopolis" will say "sound mixed at the All-Movie Hotel," which he thinks will make filmmakers "come here in droves."
Take a look inside.
The hotel's Dorothy Theater can be used for reviewing new sound recordings, watching live edits, and hosting larger ADR sessions.
The Dorothy Theater is named after famed film director Dorothy Arzner.
The Family Coppola Hideaways
The screening room features a 7.4' diagonal screen, a 9.1.6 Atmos Meyer speaker set-up, and a SIM 2 Gold Nero 4s projector, according to the website. It also has two Avid S6 Consoles and a Mac Pro computer for editing in the theater itself.
The theater, named after famed film director Dorothy Arzner, can also be transformed to accommodate up to 30 guests.
The theater can be used as either a screening room for editing or as a true theater.
The Family Coppola Hideaways
During downtime, casts and crews — and regular guests — can set up the Dorothy Theater with multiple couches and tables for a cozy movie night.
The eponymous Arzner was one of few female directors in Hollywood during the 1930s, with a successful career spanning from the silent era to sound film. She was also one of Coppola's teachers at UCLA.
An editorial wing is connected to the Dorothy Theater, which contains a fully soundproof ADR suite and two editorial suites.
The editorial wing offers various rooms for filmmakers to work on post-production tasks.
The Family Coppola Hideaways
Each editorial room has multiple Small HD reference monitors and can be customized to your preferred editorial setup. Speakers, TVs, and a slew of other equipment are available for any editing needs.
The first floor features two more editorial suites for reviewing footage, picture and sound editing, and other production editorial needs.
Filmmakers can review their work in these production editorial rooms.
The Family Coppola Hideaways
Each room offers a projector, Meyer speakers, and a Mac Pro computer, according to the website. The hotel also has an IT room with a local QNAP server and can provide an engineer for further support for an added cost.
A "Green Room" offers a large kitchen, dining area, and a lending library of books.
Any people working on a film can gather in the green room for food and company.
The Family Coppola Hideaways
Actors and crew can hang out in this bright communal space to cook or enjoy meals prepared by a private chef. The kitchen is fully stocked with two large refrigerators, a six-burner stove, an espresso machine, and various food staples.
Guests can book the Francis Ford Coppola Suite, where the director personally stayed during his two-year residency at the hotel.
Francis Ford Coppola stayed in this suite during the production of his newest film, 'Megalopolis.'
The Family Coppola Hideaways
The room, one of two extensive "star suites" located on the second floor, is furnished with pieces from Restoration Hardware, including a queen-sized bed, a sofa, and two velvet director chairs. The suite also includes a screen projector, luxury bathroom, dining table, and a full kitchenette with a bar, sink, refrigerator, two-burner stovetop, microwave, and dishwasher.
Guests can also choose to stay in a suite or room that connects to a separate bunkbed room, which can accommodate up to four guests.
The hotel offers three rooms with bunk beds, suitable for families with children.
The Family Coppola Hideaways
Especially ideal for families with children, these rooms can either feature four twin-sized bunk beds or a lower double bed with a trundle and a twin bed on top.
Coppola also designed a suite to celebrate Japanese filmmaking history.
The Japanese suite has hand-selected cinematic art to celebrate Japanese filmmaking.
The Family Coppola Hideaways
The Japanese suite includes two queen-sized beds, with each bedroom divided by shoji screens for privacy. It also offers a kitchenette and seating area.
The living room offers boardgames and features 'The Godfather' pinball machines.
Guests can play on pinball machines inspired by Coppola's iconic 'The Godfather.'
The Family Coppola Hideaways
The living room, where guests can gather or relax on the couch, is also where daily continental-style breakfast is served.
The hotel also offers a patio, a small gym, and a large swimming pool with an outdoor grill
The hotel also offers a large swimming pool with an expansive deck and umbrellas.
The Family Coppola Hideaways
For further outdoor recreation, guests can rent a golf cart or reserve one of the hotel's complimentary bikes to explore over 100 miles of golf cart paths.
The All-Movie Hotel is set to open on July 25th, Variety reported.
In this article, we look at what would have happened if you had invested $10,000 in the No. 1 ASX 200 property stock for share price growth in FY24.
What this ASX 200 property stock did in FY24
The No. 1 property stock for share price growth in FY24 was Goodman Group (ASX: GMG).
Goodman is Australia’s largest real estate investment trust (REIT). It booked a 73.1% share price gain in FY24. By comparison, the S&P/ASX 200 A-REIT Index (ASX: XPJ) rose 19.9% over the 12 months.
Goodman Group owns a huge global portfolio of property assets worth $80.5 billion.
The company specialises in industrial property, and it’s sure catching the enormous artificial intelligence (AI) tailwind these days.
It’s doing so by building the data centres needed to make AI work. Data centres account for approximately 40% of Goodman’s $12.9 billion construction pipeline at the moment.
In a recent update, Goodman said its strong balance sheet would enable it to continue buying and developing high-tier data centres in desirable locations around the world.
Now, let’s do some maths.
If you invested $10,000 at the start of FY24…
Goodman shares closed on 30 June 2023 at $20.07 per share.
If you’d invested $10,000 at that price, you would have ended up with 498 Goodman shares.
Total spend = $9,994.86.
Then this happened.
At the closing bell on 30 June this year, your Goodman shares were worth $34.75 apiece.
So, you would have made $14.68 per share, which, multiplied by 498, gives us a $7,310.64 capital gain.
In FY24, you would have received an unfranked final dividend of 15 cents per share in August 2023 and an unfranked interim dividend of 15 cents per share in February 2024.
This would have added another $149.40 to your total returns for FY24.
Granted, that’s not a big dividend yield, but investors don’t buy this ASX 200 property stock for income.
Goodman Group is a growth stock, which means the company tends to reinvest much of its earnings in order to get bigger over time.
It does this by acquiring new assets and redeveloping existing assets as trends change (e.g., Goodman is currently repurposing some of its industrial properties into data centres now).
CEO Greg Goodman explains:
Data centres will be a key area of growth and the acceleration of data centre activity is a catalyst for the Group to consider multiple opportunities to enhance its returns.
We continue to assess the Group’s capital allocation to both existing and potential opportunities to provide the best risk-adjusted returns.
Key to this will be the active rotation of our capital to fund sustained earnings growth over the long term.
According to CommSec, the consensus forecast among analysts is for this ASX 200 property stock’s EPS to grow from $1.074 per share in 2024 to $1.211 per share in 2025 and $1.377 per share in 2026.
Should you invest $1,000 in Goodman Group right now?
Before you buy Goodman Group shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Goodman Group wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bronwyn Allen has positions in Goodman Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Jimmy, Brooke, and Isla Sweeney are traveling the world together to find their dream home.
Courtesy of Jimmy Sweeney
Jimmy and Brooke Sweeney decided to leave Fort Worth, Texas, with their 4-year-old daughter, Isla.
They've been traveling the world to find a home that fits their lifestyle since June 2023.
They have visited 29 countries so far and spend an average of less than $200 a day.
This as-told-to essay is based on a conversation with Jimmy Sweeney, a 31-year-old dad who has been traveling the world with his wife, Brooke, and 4-year-old daughter, Isla, to find a new home since June 2023. The conversation was edited for length and clarity.
Brooke and I have always loved traveling, and having a kid, we knew we didn't want to change that. We went to Australia and New Zealand a week after we found out Brooke was pregnant.
We lived in Fort Worth, Texas, and there was a lot we loved about it. It's a larger city but still has a small-town feel. We loved our neighborhood. We had some great friends. But ultimately, we realized that long-term, it wasn't where we felt we fit.
I've been to over 40 states, and while there are places we love, they all fall under this cultural umbrella that we feel like we are battling against often. Because of that and knowing that we didn't want to send our kid to school in Texas, given the state of education and the attacks that have been happening on public schooling in the state, we started to look around.
Given our stage of life, we were like, "Why not take the time and go see the world and try to see if there's somewhere that we just fall in love with?"
We sold our house and started our journey in Europe
We put our house on the market in April of last year. It took seven months to sell.
We should have closed a week before we left, but as housing contracts do, it fell through. We had to carry that along with us as we traveled, but it worked out.
The Sweeneys at the Great Wall of China.
Courtesy of Jimmy Sweeney
A big thing was getting a storage unit and selling our stuff. We did a month straight of garage sales.
When we left Texas, we went to my parents' house in Florida for about a month. While we were there, we decided we would start in Europe.
We're looking for a place that invests in public spaces, that creates a communal culture around people feeling like they can be out and about. Having public transit, being walkable, and having schools that align with the schooling we want our child to have are also important.
We want to settle somewhere by the time our kid needs to start school. Long-term, we want our kid to feel stable and have a place where they can make friends.
We have tried to match what we spent in the US
I'm a stay-at-home dad. Brooke still works for the same company she did in the US.
When we were in the States, she worked hybrid remote, and when she told them she was going to leave, they asked her to move into a role that was more like project management. She has adapted to that, allowing her to work remotely full-time.
We were just going to travel and have the money from selling our house, but it's been nice for her to be working, obviously financially, because then we get to save more. But at the same time, it also gives a little more structure to our days.
We have tried to match what we spent in the US, but in different ways because we don't have a mortgage, energy bills, or a car payment.
Jimmy, Isla, and Brooke Sweeney at the Jiufen Teahouse in Taiwan.
Courtesy of Jimmy Sweeney
I've tried to stay under $100 a night for lodging. In 29 countries so far and 60-ish cities, there have maybe been five or six where I've had to do a lot of digging to get to that. As a family, we don't have the option to stay in the hostels like many other long-term travelers.
For the most part, we pay between $50 and $75 a night for lodging, which typically gets us a space with a washer, dryer, and a small kitchen. For food and experiences, we also try to stay under $100 a day.
Jimmy and Isla Sweeney at Oktoberfest in Munich, Germany.
Courtesy of Jimmy Sweeney
It's different traveling long-term than being on vacation. We're not doing excursions every day, drinking alcohol with every meal, or going out to a bar every night. We are looking for parks, libraries, and free museums.
We don't spend as much on experiences as you would if you were just coming to a place for a week or two. It depends on how long we stay in one place, which can be days or weeks. We spent multiple weeks in New Zealand, Australia, and Japan.
Grocery shopping is a great way to learn about the seasonality of ingredients in a place and to see and learn about the rhythms of many people. Are you running out to the grocery to grab stuff every day just for dinner that night, or is it more like an American-style thing where you're bulk shopping for a week at a time? And you get to know the prices that way as well.
We also love to go to bookstores and libraries. Seeing the stories kids in a place are growing up with is a great way to learn about a culture. That's engaging for our kid, and she loves that, but it's also great for us to see what parents do with their kids throughout the week.
We've loved a lot of places so far
It doesn't take long to understand whether you relate to or feel a part of somewhere. There are places that you can easily cross off a list.
We love Kuala Lumpur, but you walk outside for five minutes and your entire body is dripping sweat. We have done that for enough of our lives that we're like, "Rainy season in Southeast Asia is not what we're going to insert ourselves into."
A lot of it comes with figuring out if moving there is a possibility.
Several places have opened up digital nomad visas. We enjoyed Spain a lot, and they have a digital nomad visa. But you're conflicted about the impact of moving somewhere and seeing a place that has felt the impact of the number of people immigrating there and protecting the local population.
In places like Denmark, Australia, and New Zealand, the entry point is getting a job, and that's not necessarily easy or hard. It's just a thing.
Language is also a big consideration. Even if many places conduct business in English, if we're moving to a non-English-speaking country, there's a gap in making friends in the workplace or elsewhere. Some languages are harder to learn than others.
We love that we get to bring our kid alongside us
One thing that we especially try to show with sharing our travels is that it is much more approachable with kids than you might think, especially with food.
Every kid in the world enjoys chicken tenders and french fries. You'll be able to find that somewhere or some derivative of it that looks similar. Whether the rice looks slightly different or it's a different seasoning on the chicken, those things become a gateway to her trying new foods.
When you're traveling in general, you see how much more similar we are in our day-to-day routines than you might have the perception of.
Isla and Brooke Sweeney in Goreme, Türkiye.
Courtesy of Jimmy Sweeney
Kids are growing up everywhere. People have to learn and adapt to what to do with their kids, and it's not that different from what we do in the US.
We love that we get to bring our kid alongside us in this and experience it with her.
Travel should change us
Next year, we'll look toward continuing to travel some and being in the job application phase.
Or if digital nomad is what we need to do for a little while, doing that.
Ultimately, it's about embracing a culture, learning its history, and becoming part of it. That's my biggest hope for us at the end of this.
Traveling and experiencing new cultures should change us. It should have a lasting effect on how we conduct ourselves and live our lives.
The Sweeney family at Amber Palace in Jaipur, India.
Courtesy of Jimmy Sweeney
In many ways, that's what led us on this journey. And maybe that journey for you isn't moving out of the city, out of state, or out of the country. Maybe it just means small things you incorporate into your day-to-day that help you live a more fulfilling routine.