First Post! October 21, 2019

Let's officially kick off the day of posting at Shacknews. Here's your First Post!

Fort Worth Star-Telegram
7

Hey Shackers, it's time for the First Post! (A little late) Here's a breakdown of some news to kick off your Monday. Please take a look.


Tornado strikes Dallas

A super strong tornado struck Dallas hard last night. A10Pilot's Chatty thread has a lot of great information if you live in Dallas or have friends or family there. Hope everyone is ok.


#OpioidEpidemic

Teva Pharmaceutical, Cardinal Health, AmerisourceBergen, and McKesson all came to a last minute $260 million legal settlement to avoid the first federal trial which was scheduled to kick off in Cleveland today. An attorney for Summit and Cuyahoga counties said that Teva is paying out $20 million in cash and $25 million in Suboxone, which is a treatment for opioid addiction. Walgreens Boots Alliance was the one company named in the suit who did not settle. The court is working out a new trial date for WBA. Opioid addiction is rampant in Northeast Ohio, so this is a good first step in holding companies accountable for profiting off of this epidemic, but more has to be done. This won't be the last of these court cases.


Apple is actually moving iPhone XR assembly to India

Apple Inc. (AAPL) shares are hitting an all-time high today above $240/share, and it appears that the team is working on hedging their bets in China. Lower-cost iPhone XR is being assembled in India. Hopefully this brings the price down on low-end iPhones down the road, but it is a good first start.


This "taco" seems like a bad idea...

This "taco" seems like a good thing or a horrible idea. What do you think, Shacknews?


In case you missed it at Shacknews:


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What are you up to this week, Shacknews? Let us know in the Shacknews Chatty comment thread below.

CEO

Asif Khan is the CEO and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.

From The Chatty
  • reply
    October 21, 2019 9:20 AM

    Asif Khan posted a new article, First Post! October 21, 2019

    • reply
      October 21, 2019 9:47 AM

      I hope India is a better place than China to build cheap stuff..!

      • reply
        October 21, 2019 9:52 AM

        It will be until both of them nuke each other, unless Pakistan goes off first. TBH though I haven't heard much in the way of tensions there specifically lately although that doesn't mean there aren't still ongoing issues.

    • reply
      October 21, 2019 10:42 AM

      That taco gave me diabetes from just watching it being made. Its like someone's plan to weaponize cotton candy.

    • reply
      October 21, 2019 11:05 AM

      I’m curious—how much in fines or judgments have been levied against opioid manufacturers in these cases? It’s gotta be billions now right?

      • reply
        October 21, 2019 11:07 AM

        Yes. It will be several billion when it is over. Probably close to 10s of billions. The sad part is that we aren’t going to actually address what is causing the hopelessness to drive people to the drugs to begin with.

        • reply
          October 21, 2019 11:09 AM

          It’s a pity that there isn’t a stipulation how the funds are used (and a set plan on best practices that the funds can be directed toward).

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