February 21, 2024 | Read Online

Good afternoon. It's Wednesday, Feb. 21, and we're covering paying fines in civil fraud case, Walmart's reason behind buying Vizio, secret NBA world filled with affairs, and much more. First time reading? Sign up here.

American Fact of the Day!

"The Sunshine State" is Florida's Official Nickname: Due to its more than 2,900 hours of yearly sunshine, subtropical climate, and the best beaches in the country, Florida gained its fitting nickname in 1970. While this state doesn't receive the most sunshine in the country (Arizona, New Mexico, and Nevada are at the top), it does draw in millions of tourists each year for its year-round summer weather.

Breaking Updates

New York AG Letitia James Threatens to Seize Trump's Property If He Doesn't Pay Fine in Civil Fraud Case

New York Attorney General Letitia James, fresh off her victory lap in her office's seemingly successful attack against former President Donald Trump in the civil fraud case, took the opportunity to make more threats against him.

During an appearance on ABC News, James indicated she would take further action against the former president if he did not pay the exorbitant $354 million settlement.

Four days after a judge ordered former President Donald Trump to pay $354 million in his civil fraud case, New York Attorney General Letitia James told ABC News that she is prepared to seize the former president's assets if he is unable to find the cash to cover the fine. "If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets," James said in an interview with ABC News' Aaron Katersky.

James also insisted that the fact that Trump's supposed actions did not harm any victims was irrelevant.

"He engaged in this massive amount of fraud. It wasn't just a simple mistake, a slight oversight, the variations are wildly exaggerated, and the extent of the fraud was staggering," James also claimed.

Trump, who is no stranger to legal battles at this point, has vehemently denied any wrongdoing and vowed to appeal the court's decision. However, James' approach to this case and her remarks about looking forward to seizing the former president's property suggests that the entire motivation behind the attorney general's actions were political, similar to the other indictments and lawsuits being levied against him.

The judge's ruling against Trump has been widely panned as unfair.

Walmart Buys Vizio and the Reason Behind the Purchase Is a Sign

The Walmart Corporation just delivered its quarterly reports and the news was good financially across the spreadsheets. Its revenue grew by +5.7% year-over-year, with its monetary haul beating Wall Street estimates by a few billion dollars, leading to a $1.80 EPS announcement, also besting street estimates. As a result, the stock reached a new high price.

Also included in the report was the announcement that the company was making a significant acquisition. The store chain will be buying the flatscreen television manufacturer Vizio in a stock purchase that will total $2.3 billion, at a rate over 20 percent higher than its stock price. Vizio had been trading in January at around $7 until news leaked of the buyout, spiking to an $11 level. The reasons behind this are what is interesting.

Walmart currently stands as the largest retailer for Vizio products, but this buyout has less to do with the retail side of things. The store chain is eyeing its expansion opportunity through Vizio's smart TV platform. The intention is for Walmart to step up and become more of a direct competitor with Roku, Amazon, and YouTube in the direct-marketing arena, intending to leverage Vizio's OS through its built-in television apps.

The deeply interesting aspect is that this might serve as a transformative aspect of Walmart's growth as a corporation. The margins expected through this marketing system will be greater than those in the retail space, and it was one year ago when top executives indicated the company would be transitioning so that it will see more of its profits from the service and advertising sector than from the brick-and-mortar sales that turned the company into a behemoth. (The appeal of moving from retail in some cities actually seems to make sense.) This purchase of the smart TV maker is a key component of that 5-year projection.

This move serves to be another shot across the bow for Amazon.

American Sports & Culture

MLB prospect rankings: Top 50 players entering 2024 as Jackson Holliday earns No. 1 spot, Wyatt Langford soars

Here are the 50 best prospects in baseball heading into the 2024 season

Stephen A. Smith hints at secret NBA world filled with affairs, behind-the-scenes drama

Stephen A. Smith did not hold back about while discussing the "trouble" he witnessed as a beat writer earlier in his career, including "people screwing around in the office.”…

Caleb Williams enters the NFL without an agent

The presumed No. 1 pick will go it alone.

American Business & Markets

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Do You Need a Think Week? How Bill Gates' Idea Can Work for Your Business

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30 Low Cost Business Ideas With High Profit

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American Politics

Trump responds to Nancy Pelosi swipe: 'It's just misinformation' | Fox News Video

Former President Trump responds to Nancy Pelosi claiming Russian President Putin has 'something' over Trump on 'The Ingraham Angle' during a town hall in Greenville, South Carolina.