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HOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001. If its return is comedic, some former employees who lost everything in Enron’s collapse aren’t laughing. “It’s a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?” said former Enron employee Diana Peters, who represented workers in the company’s bankruptcy proceedings. Here’s what to know about the history of Enron and the purported effort to bring it back. What happened at Enron? Once the nation’s seventh-largest company, Enron filed for bankruptcy protection on Dec. 2, 2001, after years of accounting tricks could no longer hide billions of dollars in debt or make failing ventures appear profitable. The energy company’s collapse put more than 5,000 people out of work, wiped out more than $2 billion in employee pensions and rendered $60 billion in Enron stock worthless. Its aftershocks were felt throughout the energy sector. Twenty-four Enron executives, including former CEO Jeffrey Skilling, were eventually convicted for their roles in the fraud. Enron founder Key Lay’s convictions were vacated after he died of heart disease following his 2006 trial. Is Enron coming back? On Monday — the 23rd anniversary of the bankruptcy filing — a company representing itself as Enron announced in a news release that it was relaunching as a “company dedicated to solving the global energy crisis.” It also posted a video on social media, advertised on at least one Houston billboard and a took out a full-page ad in the Houston Chronicle In the minute-long video that was full of generic corporate jargon, the company talks about “growth” and “rebirth.” It ends with the words, “We’re back. Can we talk?” Enron’s new website features a company store, where various items featuring the brand’s tilted “E” logo are for sale, including a $118 hoodie. In an email, company spokesperson Will Chabot said the new Enron was not doing any interviews yet, but that “We’ll have more to share soon.” Signs point to the comeback being a joke. In the “terms of use and conditions of sale” on the company’s website, it says “the information on the website about Enron is First Amendment protected parody, represents performance art, and is for entertainment purposes only.” Documents filed with the U.S. Patent and Trademark Office show that College Company, an Arkansas-based LLC, owns the Enron trademark. The co-founder of College Company is Connor Gaydos, who helped create a joke conspiracy theory that claims all birds are actually surveillance drones for the government. What do former Enron employees think of the company’s return? Peters said that since learning about the “relaunch” of Enron, she has spoken with several other former employees and they are also upset by it. She said the apparent stunt was “in poor taste.” “If it’s a joke, it’s rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees,” Peters said. Peters, who is 74 years old, said she is still working in information technology because “I lost everything in Enron, and so my Social Security doesn’t always take care of things I need done.” “Enron’s downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron’s legacy was the employees in the trenches. Leave Enron buried,” she said. ___ Follow Juan A. Lozano on X at https://x.com/juanlozano70Market to edge down as US stabilises after sell-off
The cyber climate shifts resilience thinking( MENAFN - EIN Presswire) Aramid Fiber Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-for a limited time only! LONDON, GREATER LONDON, UNITED KINGDOM, December 20, 2024 /EINPresswire / -- The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only! The aramid fiber market has seen substantial growth in recent years . Its size is predicted to increase from $4.78 billion in 2023 to $5.29 billion in 2024, reflecting a compound annual growth rate CAGR of 10.7%. The historical growth of this market can be attributed to strong economic growth in emerging markets, government spending on military and defense industries, and the increasing need for lightweight materials for significant emission reduction in vehicles. Additionally, initiatives by governments in the textile industry have also fueled market expansion. What spurred the rapid growth of the aramid fiber market size in recent years? The use of lightweight materials in vehicles is one of the key market drivers contributing to the growth of the aramid fiber market. The benefits of using such materials include reductions in vehicle weight, fuel consumption, and greenhouse gas emissions. Aramid fibers, due to their lightweight and high-strength capabilities, find utility as reinforced materials in the manufacture of various automobile components such as tires, turbocharger hoses, powertrain components, belts, brake pads, gaskets, clutches, seat textiles, electronics, and seat sensors. According to the Electronic Specifier, a renowned publisher of global electronics sector information, the lightweight material segment in the auto industry is predicted to expand at a CAGR of 5% by 2028. Explore exclusive insights into the global aramid fiber market with our detailed sample report: What are the forward-looking expectations for the aramid fiber market? The aramid fiber market is expected to see continued growth in the next few years. Projections indicate that it will reach $7.98 billion by 2028, with a CAGR of 10.8%. This forecasted growth can be attributed to factors such as increasing population and urbanization, the growing demand from the automotive sector, and a wider adoption of 5g technology. Major trends in the forecast period include increasing investments, developing sustainable and eco-friendly fabrics, the use of blockchain technology, and collaborations and partnerships aimed at strengthening finances and enhancing product portfolios. Order the full report for comprehensive insights into the aramid fiber global market: Which industry giants dominate the aramid fiber market? Key players operating in the aramid fiber market include DuPont, Teijin Ltd, Taekwang Industrial, Toray Industries Inc, and Hyosung among others. These major companies continue to drive the market's development by investing in new technologies and innovations. What has been the latest developments and trends in the aramid fiber market ? Major players in the aramid fiber market are increasingly investing in strengthening their production capacities. As an example, in June 2021, South Korea-based Kolon Industries doubled its annual production capacity of aramid, a critical raw material for 5g network cables and electric vehicles. On the other hand, Teijin Aramids, a Netherlands-based producer of high-strength fibers, has installed the latest equipment to meet global demand. How is the aramid fiber market segmented? The aramid fiber market covered in this report is segmented based on: 1 Type: Para-Aramid Fiber, Meta-Aramid Fiber 2 Application: Protective Fabrics, Frictional Materials, Optical Fibers, Tire Reinforcement, Rubber Reinforcement, Composites, Other Applications 3 End Use Industry: Aerospace And Defense, Automotive, Electronics And Telecommunication, Sports Goods, Other End-Use Industries What are the geographical market trends in the aramid fiber sector? In 2023, Europe was the largest region in the aramid fiber market, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The countries encompassed in this market report include those from Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Browse Through More Similar Reports By The Business Research Company: Webbing Global Market Report 2024 Fiber Reinforced Plastic Vessels Global Market Report 2024 Fiber lasers Global Market Report 2024 Learn More About The Business Research Company The Business Research Company has published over 15000+ reports spanning 27 industries and 60+ geographies. Our reports utilize 1,500,000 datasets, extensive secondary research, and exclusive interviews with industry leaders to offer valuable insights. Contact us at: The Business Research Company: Americas +1 3156230293 Asia +44 2071930708 Europe +44 2071930708 Email us at ... Follow us on: LinkedIn: YouTube: Global Market Model: global-market-model Oliver Guirdham The Business Research Company +44 20 7193 0708 email us here Visit us on social media: Facebook X LinkedIn Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above. MENAFN19122024003118003196ID1109014355 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.FAIRMONT, W.Va.--(BUSINESS WIRE)--Nov 21, 2024-- MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial,” “MVB,” or the “Company”) has declared a quarterly cash dividend of $0.17 per share, maintaining the dividend declared in the previous quarter for shareholders of record as of December 1, 2024, payable on December 15, 2024. This is the fourth quarterly dividend for 2024. “We are pleased to continue to add value for our shareholders and encouraged by the adaptability of Team MVB and the resilience of our business model,” said Larry F. Mazza, Chief Executive Officer, MVB Financial. “MVB’s foundational strength remains intact, evidenced by stable asset quality, an enhanced capital base and growth in tangible book value per share. We are increasingly well-positioned for future growth and improved profitability.” About MVB Financial Corp. MVB Financial Corp., the holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its subsidiary, MVB Bank, Inc., and the Bank's subsidiaries, the Company provides banking services to Fintech clients throughout the United States. For more information about MVB, please visit http://ir.mvbbanking.com . Forward-Looking Statements MVB Financial has made forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this press release that are intended to be covered by the protections provided under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about the future and are subject to risks and uncertainties. Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations of the Company and its subsidiaries. Forward-looking statements can be identified by the use of words such as “may,” “could,” “should,” “would,” “will,” “plans,” “believes,” “estimates,” “expects,” “anticipates,” “intends,” “continues,” or the negative of those terms or similar expressions. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause those results to differ materially from those expressed in forward-looking statements. Therefore, undue reliance should not be placed upon any forward-looking statements. Those factors include but are not limited to: market, economic, operational, liquidity, and credit risk; changes in market interest rates; impacts related to or resulting from recent bank failures and volatility; inability to achieve anticipated synergies and successfully integrate recent mergers and acquisitions; inability to successfully execute business plans, including strategies related to investments in Fintech companies; competition; the pace of recovery following the continued effects of the COVID-19 pandemic and its impact on the Company’s business and financial condition; changes in economic, business, and political conditions; changes in demand for loan products and deposit flow; operational risks and risk management failures; and government regulation and supervision. Additional factors that may cause actual results to differ materially from those described in the forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as well as its other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov . Except as required by law, the Company disclaims any obligation to update, revise, or correct any forward-looking statements. View source version on businesswire.com : https://www.businesswire.com/news/home/20241121464014/en/ CONTACT: MEDIA CONTACT Amy Baker VP, Corporate Communications and Marketing MVB Bank abaker@mvbbanking.com (844) 682-2265INVESTOR RELATIONS Marcie Lipscomb mlipscomb@mvbbanking.com (844) 682-2265 KEYWORD: WEST VIRGINIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: MVB Financial Corp. Copyright Business Wire 2024. PUB: 11/21/2024 04:30 PM/DISC: 11/21/2024 04:30 PM http://www.businesswire.com/news/home/20241121464014/en
Trump offers a public show of support for Pete Hegseth, his embattled nominee to lead the Pentagon
SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Symbotic Inc. (NASDAQ: SYM) publicly traded securities between February 8, 2024 and November 26, 2024, inclusive (the “Class Period”), have until February 3, 2025 to seek appointment as lead plaintiff of the Symbotic class action lawsuit. Captioned Decker v. Symbotic Inc. , No. 24-cv-12976 (D. Mass.), the Symbotic class action lawsuit charges Symbotic and certain of Symbotic’s top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Symbotic class action lawsuit, please provide your information here: https://www.rgrdlaw.com/cases-symbotic-class-action-lawsuit-sym.html You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com . CASE ALLEGATIONS : Symbotic is an automation technology company that engages in developing technologies to improve operating efficiencies in modern warehouses. The Symbotic class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Symbotic had improperly accelerated its recognition of revenue. The Symbotic class action lawsuit further alleges that on November 27, 2024, Symbotic disclosed that it “identified errors in its revenue recognition related to cost overruns on certain deployments that will not be billable, which additionally impacted system revenue, income (loss) before income tax, net income (loss) and gross margin recognized in the second, third, and fourth quarters of fiscal year 2024,” “identified in its preliminary assessment of internal control over financial reporting for the fiscal year ended September 28, 2024 certain material weaknesses,” and Symbotic’s “previously issued financial statements for those periods, including the financial information included in [Symbotic]’s earnings press release for the fourth quarter and fiscal year 2024 and [Symbotic]’s supplemental presentation, should therefore no longer be relied upon.” On this news, the price of Symbotic stock fell nearly 36%, according to the complaint. THE LEAD PLAINTIFF PROCESS : The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Symbotic publicly traded securities during the Class Period to seek appointment as lead plaintiff in the Symbotic class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Symbotic class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Symbotic class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Symbotic class action lawsuit. ABOUT ROBBINS GELLER : Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: https://www.rgrdlaw.com/services-litigation-securities-fraud.html Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 info@rgrdlaw.comA year of climate extremes