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Vegano Foods Inc

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. <a href="https://pro.benzinga.com/?utm_source=insights">According to Benzinga Pro</a>, these enticing companies are scheduled to trade publicly this week.
<ul>
<li>FBS Global Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBGL#NASDAQ">FBGL</a>) will be trading publicly starting on Oct. 14. The company&#39;s price band is set between $4.50 and $5.00 with an insider lock-up period of 180 days. FBS Global Limited will be offering 2,250,000&nbsp;shares at a per-share value of $4.75.</li>
</ul>
<h3>Understanding IPOs</h3>
Initial public offerings, or IPOs, are the transitional processes of private companies deciding to go public and offer shares to investors on exchanges. IPOs typically offer companies the ability to build capital by distributing shares across the market. A company interested in becoming publicly tradeable must first meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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A Look At Upcoming IPOs For The Week

Stevie Wonder is the star of a new ad for <a href="https://www.benzinga.com/topic/kamala-harris">Kamala Harris</a>' presidential campaign in which he says his longtime friend "will be the next president."
"I was excited about Kamala years before people knew who she was. I'm very happy for the future. I'm very happy because I know and believe that she will be the next President of these United States," Stevie Wonder says in the 90-second video. "Truthfully — not to make you guys feel bad — but it takes a woman. But not just any woman, a wonderful woman. She has done the work consistently. She has had humility and compassion consistently." 
He went on to say in the video, "We need to really fix what's going on here," while gesturing to his heart.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stevie Wonder is a longtime friend of mine. I thank him for being a part of our fight for the future. Join us at <a href="https://t.co/MKvOQGgN2t">https://t.co/MKvOQGgN2t</a>. <a href="https://t.co/caCuvbTXro">pic.twitter.com/caCuvbTXro</a>
&mdash; Kamala Harris (@KamalaHarris) <a href="https://twitter.com/KamalaHarris/status/1844741674574008545?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Trump Blasts Hollywood Endorsements</h2>
Celebrity endorsements is a long-running tradition in presidential politics &#8211; one that Democrats generally win. This year in particular the Dems are getting some screeching attacks on the subject from her opponent <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a>. 
"Patriot, Comrade Kamala is putting together a RADICAL LEFT DREAM TEAM. She's got HOLLYWOOD HACKS like Oprah Winfrey and Jamie Lee Curtis raising MILLIONS for her campaign," Trump wrote in a fundraising email after Harris did an <a href="https://www.benzinga.com/news/24/09/40950764/kamala-harris-tells-oprah-winfrey-she-felt-a-sense-of-responsibility-after-bidens-sudden-exit-it-cam">interview with Oprah Winfrey</a> in mid-September.
Read Also: <a href="https://www.benzinga.com/news/24/10/41304701/anthony-scaramucci-foresees-harris-win-stay-calm-lets-keep-working">Anthony Scaramucci Foresees Harris Win: &#8216;Stay Calm, Let&#8217;s Keep Working&#8217;</a>
<h2 class="wp-block-heading">Celebs: Who's Supporting Whom?</h2>
With the 2024 election barely three weeks away, every endorsement counts. Some of the biggest names in Hollywood and the music and sports world have already thrown their support behind Harris, including Taylor Swift, Kerry Washington, Robert DeNiro, Barbara Streisand, Bruce Springsteen, Jennifer Lawrence, Billie Eilish, Mel Brooks, George Clooney, Oprah Winfrey, JJ Abrams and Spike Lee, "Black-ish" star Tracee Ellis Ross, Meryl Streep, Steph Curry, Matt Damon, Lin Manuel Miranda and billionaire Mark Cuban just to name a few. 
Trump's celeb supporters include Elon Musk, Hulk Hogan, Jon Voight, Roseann Barr, Billy Ray Cyrus, Kid Rock, Amber Rose, James Woods, Kanye West, Randy Quaid and Rob Schneider&nbsp;who says Hollywood "blacklisted" him over his Trump support.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41301812/mark-cuban-says-kamala-harris-likely-doesnt-believe-in-publicly-dunking-on-her-current-boss-biden-bu">Mark Cuban Says Kamala Harris Likely Doesn&#8217;t Believe In Publicly Dunking On Her Current Boss Biden, But Her Stance On Tax Rates And Fracking Is &#8216;Definitely Different&#8217;</a></li>
</ul>
Photo: Shutterstock

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Politics

VIDEO: Stevie Wonder Says Kamala Harris 'Will Be The Next President,' Trump Blasts Endorsements From 'Hollywood Hacks'

Donald Trump has recently launched a series of personal attacks against Kamala Harris.
What Happened: Last week Trump commenced his verbal onslaught on Harris, labeling her as a &#8220;dummy&#8221; following her appearance on ABC&#8217;s The View.
The former president&#8217;s derogatory remarks continued throughout the week, with him comparing Harris&#8217;s interviews to the sound of a vacuum and dubbing her &#8220;grossly incompetent.&#8221;
Speaking at the Detroit Economic Club, Trump said that Harris was "dumber than hell."
Trump&#8217;s strategy, according to GOP strategist Ford O&#8217;Connell, seems to be to depict Harris as unfit for the presidency. However, this approach has caused unease among some Republicans who suggest that Trump should concentrate on Harris&#8217;s political record instead.
According to a report <a href="https://thehill.com/homenews/campaign/4929331-trump-insults-harris/">by</a> The Hill, Democrats, on the other hand, argue that Trump&#8217;s continuous insults could potentially alienate moderate and independent voters.
Also Read: <a href="https://www.benzinga.com/news/24/10/41198252/trump-returns-to-site-of-assassination-attempt-urges-voters-to-vote-our-movement-to-make-america-gre">Trump Returns To Site Of Assassination Attempt, Urges Voters To Vote: &#8216;Our Movement To Make America Great Again Stands Stronger&#8217;</a>
Jesse Lee, a former official in the Obama and Biden White House, said, &#8220;When you see these insults that have a kind of petty feeling to them, it really reinforces what people like least about Trump.&#8221;
Why It Matters: Trump&#8217;s aggressive campaign, which also includes attacks on Haitian migrants and the city of Detroit, comes at a time when recent polls suggest a close race between him and Harris for the upcoming election. 
Harris, for her part, has dismissed Trump&#8217;s personal attacks, urging Americans not to let adversaries &#8220;turn your strength into a weakness.&#8221;
While Trump&#8217;s strategy may appeal to a certain demographic, the potential risk of alienating a significant voter base could be a cause for concern. 
As the election draws closer, it remains to be seen how this approach will impact the former president&#8217;s campaign and the voters&#8217; perception of him.
Read Next
<a href="https://www.benzinga.com/news/24/10/41196317/trump-urges-israel-to-target-iran-nuke-sites-hit-nuclear-first-and-worry-about-the-rest-later">Trump Urges Israel To Target Iran Nuke Sites: &#8216;Hit Nuclear First And Worry About The Rest Later&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Slamming Harris With Increasingly Sharp And Personal Attacks

Vice President Kamala Harris&#8216; popularity among Hispanic voters has shown a concerning decline, while former President Donald Trump&#8216;s appeal within this crucial <a href="https://www.benzinga.com/news/24/10/41196906/polls-suggest-this-candidate-holds-slim-lead-in-presidential-race-with-one-month-to-go">demographic remains strong.</a>
What Happened: The New York Times/Siena College poll, conducted from Sept. 29 to Oct. 6, reveals a significant dip in support for Harris among Hispanic voters compared to the last three Democratic presidential candidates. 
The <a href="https://www.nytimes.com/interactive/2024/10/13/us/elections/times-siena-poll-hispanic-likely-electorate.html">poll</a> points to her perceived weaknesses on key issues such as the economy, immigration, and crime.
Contrarily, Trump has not only retained but also fortified his appeal among Hispanic voters, despite his pronounced anti-immigrant stance. 
The poll indicates that Trump&#8217;s rhetoric has not driven Hispanic voters towards Harris, with two-thirds of the respondents feeling that Trump&#8217;s comments on immigrants do not pertain to them.
The poll, which surveyed 902 likely Hispanic voters, also uncovered an unexpected level of support for Trump&#8217;s strict immigration policies. 
Over one-third of the respondents, primarily U.S-born Latinos, expressed support for constructing a border wall and deporting undocumented immigrants.
<a href="https://www.benzinga.com/24/10/41303336/harris-and-trump-in-nail-biter-three-weeks-out">Also Read: Harris And Trump In Nail-Biter Three Weeks Out</a>
Interestingly, the poll also revealed potential for a shift, with approximately one-fourth of the respondents identifying as undecided or persuadable. These undecided voters appear to tilt towards Harris.
The results of this poll emphasize the pivotal role that Hispanic voters play in shaping the outcome of the presidential race, with both parties making concerted efforts to woo this demographic.
Why It Matters: Hispanic voters represent a significant and growing portion of the U.S. electorate. Their shifting political leanings could have a profound impact on future elections. 
The results of this poll underscore the need for both parties to understand and address the concerns of this important demographic, particularly on key issues such as the economy, immigration, and crime.
Read Next
<a href="https://www.benzinga.com/news/24/09/41080153/trump-vs-harris-this-candidate-skyrockets-in-election-forecast-poised-to-secure-victory-in-four-swin" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Skyrockets in Election Forecast, Poised To Secure Victory In Four Swing States</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Poll: Hispanic Voters Reconsidering Support For Harris

Former NATO Chief Admiral James Stavridis says the growing conflict between Israel and Iran may lead to a disruption in the oil supply from the Middle East.
What Happened: Stavridis, on Sunday, participated in the Cats Roundtable radio show, where he talked about the possible repercussions of the escalating conflict in the region.
As <a href="https://thehill.com/policy/international/4930550-ex-nato-chief-warns-iran-israel-conflict-could-shut-down-oil-coming-out-of-middle-east/">per</a> The Hill, he warned that the situation might result in a &#8220;shutdown of oil coming out of the Middle East.&#8221;
Stavridis drew comparisons between the present geopolitical scenario and the time leading up to World War II.
He highlighted the increasing strategic tension with China in the Pacific, the ongoing ground war in Europe due to Russia&#8217;s invasion of Ukraine, and the escalating conflict between Israel and Iran.
"What makes this moment dangerous, just like the days before World War II, is the rise of strategic tension with China in the Pacific," Stavridis said on the show.
"You've got a pretty significant ground war going in Europe, of course, because of the invasion of Ukraine by Vladimir Putin. And you've got this enormous disturbance parked on the Middle East between Israel and Iran, which could, in the worst case scenario, shut down oil coming out of the Middle East," he added.  
Also Read: <a href="https://www.benzinga.com/government/24/10/41298349/us-hits-iran-oil-exports-with-new-sanctions-after-israel-attack-crude-oil-holds-steady-at-75">US Hits Iran Oil Exports With New Sanctions After Israel Attack, Crude Oil Holds Steady At $75</a>
Despite the grim outlook, Stavridis remains hopeful that the upcoming U.S. leadership could play a significant role in preventing further conflict and fostering peace in the Middle East. 
His comments follow recent leadership changes at NATO, with Mark Rutte succeeding Secretary-General Jens Stoltenberg.
Stavridis also touched upon the potential consequences of the U.S. exiting NATO, a move previously proposed by former President Trump. He expressed optimism that the nation&#8217;s values would help navigate such a divisive decision.
"A strategically dangerous China, war in Ukraine, a Middle East that looks like it's on fire, cyber security, artificial intelligence – all of these are challenges," he added. 
"But there is no challenge that we cannot overcome as Americans if we can put our hands together supporting whoever the president of the United States is. That's my prayer," the former NATO chief said.
Why It Matters: The potential disruption of oil supply from the Middle East could have significant global implications, affecting economies worldwide. 
The ongoing geopolitical tensions and conflicts pose a serious threat to global oil supply chains, potentially leading to price hikes and supply shortages. 
The role of the U.S. leadership in this scenario is crucial, given its significant influence in the region and its potential to mediate and prevent further escalation of the conflict.
Read Next
<a href="https://www.benzinga.com/etfs/sector-etfs/24/10/41282123/oil-rises-over-3-hits-76-as-middle-east-tensions-mount-israel-strikes-un-peacekeeper-bases-in-le">Oil Rises Over 3%, Hits $76 As Middle East Tensions Mount: Israel Strikes UN Peacekeeper Bases In Lebanon, Threats Against Gulf Oil Facilities Emerge</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Global

Former NATO Chief Predicts 'Shutdown Of Oil' Amid Israel-Iran Conflict

The phrase "the one percent" gets tossed around a lot in conversations about wealth and inequality, whether in politics, protests, or everyday chats. But what does it mean to be in the top 1%? Let's break it down by income and net worth to get a clearer picture of <a href="https://www.benzinga.com/personal-finance/24/09/40711869/how-rich-are-you-heres-the-net-worth-that-defines-upper-middle-and-lower-class">who's part of this exclusive group.</a>
Don't Miss:
<ul>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace — <a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv" target="_blank" rel="noreferrer noopener">here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>This billion-dollar fund has invested in the next big real estate boom, <a href="https://www.benzinga.com/money/fundrise-flagship-fund" target="_blank" rel="noreferrer noopener">here's how you can join for $10.</a></li>
</ul>
What Income Puts You in the Top 1%?
To be in the <a href="https://www.benzinga.com/personal-finance/24/07/39652328/your-income-might-be-upper-class-and-you-dont-know-it-heres-the-salary-needed-to-reach-elite-sta">top 1% of earners</a> in the U.S., a household typically needs to bring in around $650,000 to $700,000 per year. This figure can vary slightly depending on the source and year of the data, but it generally falls within this range. According to the IRS, for a single individual, the cutoff is around $500,000. 
Remember, these numbers are averages and can vary depending on where you live. For example, earning that much in New York City might not stretch as far as it does in other parts of the country. The high cost of living, driven by expensive housing, taxes, and everyday expenses, means that a six-figure salary might only cover basic needs in the city. In contrast, in regions with a lower cost of living, such as the Midwest or South, the same income can offer a more comfortable lifestyle with more discretionary spending power.
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved" target="_blank" rel="noreferrer noopener">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
The Top 1% by Net Worth
When it comes to net worth, the threshold is even higher. To be part of the top 1% in the U.S., a household's net worth needs to be at least $13.6 million. This measure includes everything you own – homes, investments, savings – minus debts.
Wealth tends to be a lot more unevenly distributed than income. Many households have little to no net worth, while the top tier sits on massive wealth. That's why net worth often gives a clearer picture of someone's financial status than income alone.
Trending: Beating the market through ethical real estate investing' — <a href="https://www.benzinga.com/money/invest-with-roots">this platform aims to give tenants equity in the homes they live in while scoring 17.17% average annual returns for investors – here&#8217;s how to join with just $100</a>
Income vs. Net Worth: Which Tells the Real Story?
So, which is more important, income or net worth? It depends on what you're trying to measure. Income is great for understanding how much someone earns in a year, but net worth is the better gauge for long-term financial stability and overall wealth. Someone with a high income might not have a high net worth if they spend a lot or have significant debt, while someone with a lower income but solid investments could be much wealthier.
How Many People Are in the 1%?
As of the latest numbers, there are around 1.3 million households and about 1.8 million individual workers who fall into the top 1% in the U.S. That's a small slice of the population but represents a significant share of the country's wealth and income.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do — <a href="https://www.benzinga.com/money/money-pickle" target="_blank" rel="noreferrer noopener">to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
State-by-State Variations
to the Economic Policy Institute (EPI), the income required to be in the top 1% varies significantly across states.For example:
<ul>
<li>Connecticut has the highest threshold at $952,902</li>
<li>New York follows at $880,000</li>
<li>California comes in third at $805,000</li>
<li>On the lower end, West Virginia at $347,712</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
Understanding <a href="https://www.benzinga.com/personal-finance/24/08/40378006/exactly-how-much-money-do-you-need-to-be-rich-heres-a-look-at-the-numbers">who makes up this elite group</a> isn't just about how much you earn right now but also what you've built over time.&nbsp;
Maybe you're not in the top 1%, or maybe you are – everyone's situation is different. Either way, <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">talking with a financial advisor</a> can be really helpful. They can guide you on where you stand and how to make the best decisions for your financial future, whether you're growing your wealth or looking to manage what you've got.
This story has been updated to reflect more current income threshold numbers.
Read Next:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace — <a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv" target="_blank" rel="noreferrer noopener">here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>

Personal Finance

Are You Rich Enough To Be In The Top 1%? Here's Both The Income And Net Worth You Need to Rank Among The Wealthiest

Three of the leading U.S. banks have reported significant data breaches, compromising the personal and account information of hundreds of their customers.
What Happened: The banks that have fallen prey to these security breaches include Citizens Bank, Truist Bank, and First National Bank. The banks have informed their customers and the relevant authorities about these incidents.
In a <a href="https://ago.vermont.gov/sites/ago/files/documents/2024-09-26%20Citizens%20Bank%20Data%20Breach%20Notice%20to%20Consumers.pdf">disclosure</a> to the Office of the Vermont Attorney General, Citizens Bank revealed that it was hit by a data breach in the first half of 2024, impacting around 100 customers. The compromised data includes names, account numbers, social security numbers, and other personal details.
Truist Bank <a href="https://oag.ca.gov/system/files/TruistBank.NoticeLetter.pdf">reported</a> a security incident to the Office of the Attorney General of California, involving a third-party debt collection agency.
The bank stated that the nature of the compromised data varied by customer, potentially including names, addresses, account numbers, dates of birth, and social security numbers.
Meanwhile, First National Bank <a href="https://www.maine.gov/agviewer/content/ag/985235c7-cb95-4be2-8792-a1252b4f8318/90f12ac4-f655-4029-9dd8-a5dc15f23231.html">disclosed</a> that 107 customers had their account information exposed due to physical card skimming devices installed on two of its ATMs.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/10/41293190/us-banks-top-q3-earnings-estimates-jpmorgan-delivers-robust-beat-financial-sector-stocks-hit-record">US Banks Top Q3 Earnings Estimates: JPMorgan Delivers &#8216;Robust Beat,&#8217; Financial Sector Stocks Hit Record Highs</a>
The stolen data included names, card numbers, card expiration dates, PINs, and card verification value (CVV) numbers. The bank confirmed that some customers have already experienced fraudulent withdrawals, which are being reimbursed.
Why It Matters: The recent data breaches at these major banks underscore the growing threat of cybercrime in the banking sector. The compromised data can potentially be used for identity theft, fraudulent transactions, and other cybercrimes, putting the financial security of the affected customers at risk.
These incidents also highlight the need for stronger cybersecurity measures and protocols within the banking industry to protect customer data and maintain trust in the banking system.
Read Next
<a href="https://www.benzinga.com/news/23/11/35740187/us-banks-are-struggling-with-650-billion-in-unrealized-losses-on-bond-holdings-heres-how-they-can-ge">US Banks Are Struggling With $650 Billion In Unrealized Losses On Bond Holdings — Here&#8217;s How They Can Get Out</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Major Banks Suffer Data Breaches: How Safe Is Your Information?

Massachusetts cannabis regulators have fined two prominent companies, Ascend Wellness Holdings (CSE:<a class="ticker" href="https://www.benzinga.com/stock/AAWH#CSE">AAWH</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAWH#OTC">AAWH</a>) and Curaleaf Holdings (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CURA#TSX">CURA</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), for violations related to consumer safety practices. The fines, totaling $165,000, were issued after both companies self-reported the incidents, <a href="https://www.bostonglobe.com/2024/10/10/business/curaleaf-ascend-cannabis-fines-massachusetts/?event=event12">according to</a> The Boston Globe.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Ascend Wellness Faces Track-and-Trace Compliance Issues</h3>
Ascend Wellness, which operates three dispensaries in the state, was fined $85,000 for failing to properly comply with <a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts&#8217;</a> track-and-trace system. Regulators were unable to verify the delivery of nearly 900<a href="https://www.benzinga.com/cannabis"> cannabis products </a>due to discrepancies in Ascend&#8217;s tracking processes. 
The state's Cannabis Control Commission (CCC) deemed the violations significant, but Ascend's president and co-founder, Frank Perullo, reassured that the company has implemented corrective measures. &#8220;Ascend is fully committed to adhering to the regulations set forth by the CCC and places great importance on compliance,&#8221; Perullo said in a statement. &#8220;We have already implemented most of the necessary actions and remain dedicated to restoring trust.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41282624/major-cannabis-merger-approved-in-new-york-can-weed-stock-investors-take-advantage">Major Cannabis Merger Approved In New York: Can Weed Stock Investors Take Advantage?</a>
<h3 class="wp-block-heading">Curaleaf Placed On Probation After Contamination Issues</h3>
Curaleaf, another major player in the Massachusetts <a href="https://www.benzinga.com/cannabis">cannabis industry</a>, was fined $80,000 for not adhering to best practices in preventing contamination at its cultivation sites in Amesbury and Webster. Violations, dating back to 2021, included facility maintenance issues such as unsecured doors and gaps in ducts. 
The CCC placed Curaleaf on a six-month probation, during which the company must report any pesticide detection and could be subject to third-party testing to ensure compliance. 
In response, Curaleaf expressed its dedication to customer safety. &#8220;The health and safety of our patients and customers remains our number one priority,&#8221; the company said, adding that they have made necessary changes to prevent future issues.
Both companies have committed to improving their operations and working closely with regulators to ensure compliance moving forward.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41255544/buy-a-t-shirt-get-busted-loophole-in-minnesota-cannabis-market-could-cost-retail-operators-a-5-y"> Buy A T-shirt, Get Busted: Loophole In Minnesota Cannabis Market Could Cost Retail Operators A 5-Year Ban</a>

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AAWH

CSE:AAWH

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

TSX:CURA

Massachusetts Slaps Big Cannabis With $165K Fines For Safety Failures

The U.S. retail industry is set to face another blow with a predicted drop in Halloween spending, adding to the woes of debt-laden retailers grappling with increased overheads and a consumer shift towards cheaper products.
What Happened: As per a recent report <a href="https://www.bloomberg.com/news/articles/2024-10-12/halloween-is-crunch-time-for-troubled-retailers?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg, the National Retail Federation anticipates a 5% decrease in US Halloween expenditure, amounting to $11.6 billion this year.
The most significant decline is expected in the sales of greeting cards and costumes, which could hit merchants relying on seasonal spending in an already tough year for the retail sector.
Higher unemployment rates and persistent inflation have particularly impacted lower-income households. During a recent earnings call, Michaels Cos. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIK#NASDAQ">MIK</a>) pointed out that households with earnings below $100,000 are tightening their belts, resulting in smaller shopping baskets.
Also Read: <a href="https://www.benzinga.com/news/24/06/39447544/impending-recession-us-consumer-spending-shows-worrying-signs">Impending Recession? US Consumer Spending Shows Worrying Signs</a>
Several struggling companies, including Michaels and At Home Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOME#NYSE">HOME</a>), are under the ownership of private equity managers. These firms are facing difficulties due to poorly timed buyouts during the pandemic, which coincided with surging interest rates and inflation that strained household budgets.
Despite the hurdles, both Michaels and At Home remain hopeful about securing a larger portion of holiday spending. However, the overall spending cutback is posing challenges for the wider industry, leading to a series of high-profile bankruptcies this year.
Why It Matters: The predicted decrease in Halloween spending is a reflection of the ongoing economic challenges faced by US households. 
The retail sector, already hit hard by the pandemic, is now grappling with reduced consumer spending due to inflation and high unemployment rates. This scenario is particularly concerning for firms owned by private equity managers, who are already struggling with the repercussions of ill-timed buyouts during the pandemic. 
The situation underscores the need for strategic planning and innovative solutions to navigate the current economic landscape.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Economics

HOME

Struggling Retailers Brace For Halloween Consumer Spending Slump

Robert Kiyosaki, renowned investor and author, has expressed concerns over a potential stock market crash and highlighted the importance of <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40431598/rich-dad-poor-dad-author-robert-kiyosaki-urges-shift-to-bitcoin-amid-economic-uncertainty-">investing in gold, silver, and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).</a>
What Happened: On Saturday, Kiyosaki took to X to share his views on the current state of the market. He noted that the price of gold has reached an all-time high, indicating that investors are becoming more pessimistic and shifting their investments to defensive assets. &#8220;So higher gold prices are not necessarily a good sign,&#8221; he said in the post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The price of gold has hit all time highs. Since 2000 the people who invested in gold have done very well. I am one of those investors. I own physical gold…. No paper gold ETFs. Unfortunately higher gold prices generally means investors are becoming pessimistic. Many…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1845009105997660599?ref_src=twsrc%5Etfw">October 12, 2024</a></blockquote>
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He further warned of a looming stock market crash, stating, &#8220;If a major stock market crash occurs… Which I am expecting… Because the stock market has been high for too many years… This is not good news for people who do NOT own gold, silver, and Bitcoin.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/09/40869188/robert-kiyosaki-rings-alarm-bells-over-soaring-us-debt-the-dollar-is-trash">Robert Kiyosaki Rings Alarm Bells Over Soaring US Debt: &#8216;The Dollar Is Trash&#8217;</a>
Why It Matters: Kiyosaki&#8217;s comments come at a time when the stock market has been experiencing a prolonged bull run. He emphasized that those who have not invested in the bull market should learn from their inaction. 
&#8220;When this market crashes…and you have nothing because you did nothing…I would do what smart investors will be doing….Which is to take my time… study…join an investment club….watch for bargains….and start buying assets at low prices…carefully,&#8221; he advised.
He concluded his thread by encouraging potential investors to be patient, join investment clubs, avoid greed, identify bargains, and strive to become richer. &#8220;The lesson is: &#8216;smart investors get rich….regardless if markets are going up or down.'&#8221;
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$BTC

Robert Kiyosaki Predicts Stock Market Crash, Says Invest In Gold, Silver, And Bitcoin

Cannabis legalization continues to gain momentum across the U.S., with states like Minnesota, Delaware and Ohio embracing <a href="https://www.benzinga.com/markets/cannabis/24/08/40403847/delaware-opens-application-process-for-legal-weed-businesses-ahead-of-schedule">recreational</a> in 2023 and 2024, while Florida prepares <a href="https://www.benzinga.com/markets/cannabis/24/08/40418144/florida-cannabis-legalization-one-poll-shows-weed-going-legal-in-november-ballot-another-thumbs-">to vote</a> on a similar measure in November.
Despite widespread public support and state-level reforms, the Senate remains a major roadblock for federal cannabis legalization. 
As 34 Senate seats are up for grabs in the 2024 election, the outcome could significantly affect cannabis reform in the U.S. Senate.
<h3 class="wp-block-heading">The Senate: A Major Roadblock For Cannabis Legalization</h3>
The Senate has long posed a challenge to cannabis reform efforts, despite growing public support. For example, the Marijuana Opportunity, Reinvestment, and Expungement (<a href="https://www.benzinga.com/markets/cannabis/22/04/26428239/us-house-approves-bill-to-end-federal-cannabis-prohibition-more-act-what-does-this-mean">MORE</a>) Act, which aimed to decriminalize cannabis at the federal level and expunge certain cannabis-related convictions, passed the House in both 2020 and 2022 but stalled in the Senate. The bill <a href="https://www.benzinga.com/markets/cannabis/22/04/26566924/senators-rick-scott-james-lankford-and-ted-cruz-openly-against-federal-cannabis-legalization-her">faced opposition</a> largely due to the Senate's filibuster rule, which requires 60 votes to advance most legislation​.
Other cannabis-related bills, such as the <a href="https://www.benzinga.com/markets/cannabis/23/09/34958558/exclusive-the-safer-banking-act-is-a-long-awaited-first-step-towards-the-economic-legitimacy-of-">SAFE Banking Act</a>—which would allow cannabis businesses access to banking services—have also struggled to make it through the Senate despite bipartisan support.
Read Also: <a href="https://www.benzinga.com/general/politics/24/03/37884006/trump-vs-biden-key-swing-states-arizona-nevada-michigan-wisconsin-show-close-races-heres-the-rol">Trump Vs. Biden: Key Swing States Arizona, Nevada, Michigan, Wisconsin Show Close Races: Here&#8217;s The Role Undecided Voters, Robert Kennedy Jr. Could Play</a>
<h3 class="wp-block-heading">5 Swing States Could Shape Cannabis&#8217; Future</h3>
At the moment, out of the 100 seats, 49 are GOP, 48 are Dems and 3 are Independents (Bernie Sanders, Angus King and Kyrsten Sinema).
In the 2024 elections, five swing states with strong cannabis reform momentum—Arizona, Michigan, Nevada, Pennsylvania, and Wisconsin—are renewing their Senate seats. How these states vote could dramatically alter the Senate's stance on cannabis. Other key <a href="https://www.benzinga.com/general/politics/24/03/37884006/trump-vs-biden-key-swing-states-arizona-nevada-michigan-wisconsin-show-close-races-heres-the-rol">swing states</a> like Georgia and North Carolina won&#8217;t be renewing seats in the Senate in the next election.
In Arizona (a State that leans conservative), Kyrsten Sinema has been supportive of cannabis reform. She voted <a href="https://www.billtrack50.com/legislatordetail/19250">in favor</a> of the MORE Act, <a href="https://www.billtrack50.com/legislatordetail/19250">sponsored</a> the SAFE Act, and supported Arizona's legalization of recreational cannabis in 2020. While Arizona's GOP leans conservative, they have largely accepted the current cannabis laws without pushing for further restrictions​.
In Michigan, Debbie Stabenow (D) is retiring, according to CNN. She has consistently supported cannabis reform, including co-sponsoring the SAFE Banking Act. She is an advocate for federal decriminalization and has backed Michigan's cannabis laws. Her replacement, however, could influence the state's future stance on cannabis​.
In Nevada, Jacky Rosen (D)&nbsp;is another pro-cannabis senator who supports federal legalization. She <a href="https://www.benzinga.com/markets/cannabis/24/04/38321517/sen-jacky-rosen-introduces-bill-seeking-fed-grants-to-cover-expungement-costs-for-people-unjustl">has voted</a> in favor of removing cannabis from the Controlled Substances Act and has aligned herself with Nevada's growing recreational cannabis market​.
In Pennsylvania, Bob Casey (D), while more cautious, has shown openness to cannabis reform. He <a href="https://www.casey.senate.gov/news/releases/casey-paul-introduce-bipartisan-legislation-to-seal-records-of-low-level-nonviolent-offenses">supports</a> medical cannabis and criminal justice reforms.
In Wisconsin, Tammy Baldwin (D)&nbsp;has been a strong advocate for cannabis reform. She has voted in favor of various cannabis-related bills, including the MORE Act, and <a href="https://www.benzinga.com/markets/cannabis/23/11/35900433/gop-in-wisconsin-under-pressure-to-legalize-weed-as-state-sen-agards-new-petition-gains-traction">supports</a> both medical and recreational cannabis legalization in Wisconsin.
<ul>
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</ul>
<h3 class="wp-block-heading">A Potential Shift Senate</h3>
If these states elect more pro-cannabis senators—or even moderate Republicans—it could increase the chances of federal cannabis reform passing in the Senate. 
However, a shift toward GOP control in these states might hinder reform efforts. Historically, many Republican senators have <a href="https://www.benzinga.com/markets/cannabis/24/05/38596342/gop-senators-slam-cannabis-banking-reform-cartel-cash-and-oklahoma-at-chinese-money-laundering-s">resisted </a>comprehensive cannabis legalization.
None of the seats in these five swing states currently held by senators supportive of cannabis reform are held by Republicans. Thus, a Republican victory in any of these states could slow down the progress toward federal cannabis legalization, given the more conservative stance of many GOP lawmakers on this issue.
Should pro-cannabis candidates retain or win Senate seats, the likelihood of passing comprehensive cannabis reform increases. With both presidential candidates—Vice President Kamala Harris and Donald Trump—expressing support for cannabis reform, the potential for progress exists.
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<li>Read Next: <a href="https://www.benzinga.com/24/09/40815292/the-election-issue-no-one-saw-coming-trumps-weed-gamble-in-swing-states">The Election Issue No One Saw Coming: Trump&#8217;s Weed Gamble In Swing States</a></li>
</ul>
Cover: AI-generated image

General

Pro-Cannabis Senators' Seats At Stake In Upcoming Election Could Affect Future Of Cannabis Legalization

In a landmark achievement, SpaceX&#8217;s Starship rocket has successfully completed its fifth major test flight, which included a first-of-its-kind &#8220;catch&#8221; of the booster back at the launch tower.
What Happened: The Starship, touted as the most powerful rocket ever built, took off at 8:25 a.m. New York time. After propelling Starship into space, the Super Heavy booster made its way back to the launch site on Earth. 
The booster was then &#8220;caught&#8221; by two arms extending from Starship's launch tower, marking a significant accomplishment for SpaceX.
During the live webcast, SpaceX engineer Jessie Anderson likened the catch to &#8220;trying to catch my tears just like the chopsticks caught the booster,&#8221; <a href="https://www.bloomberg.com/news/articles/2024-10-13/elon-musk-s-spacex-to-attempt-ambitious-booster-catch-on-starship-flight?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg.
The recovery of Starship's booster after launch is a pivotal step for SpaceX as it gears up the rocket for commercial operations. The vehicle plays a key role in SpaceX CEO Elon Musk&#8216;s ambitious plans of sending humans to the moon and Mars.
Also Read: <a href="https://www.benzinga.com/news/24/09/40969797/party-game-company-sues-musks-spacex-a-15m-land-dispute-that-could-change-everything">Party Game Company Sues Musk&#8217;s SpaceX: A $15M Land Dispute That Could Change Everything</a>
Unlike the Falcon 9 rockets, which are only partially reusable, Musk has consistently stated that Starship will be fully reusable. SpaceX&#8217;s ultimate objective is to fully recover the vehicle's two main components: the Starship spacecraft and the Super Heavy booster. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The tower has caught the rocket!! <a href="https://t.co/CPXsHJBdUh">pic.twitter.com/CPXsHJBdUh</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1845446365717156265?ref_src=twsrc%5Etfw">October 13, 2024</a></blockquote>
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This would allow for multiple Starship flights in a single day, significantly cutting down the cost of launching Starship.
The test flight also marked the first time SpaceX attempted this feat with Super Heavy. The mission was conducted amidst Musk&#8217;s public criticism of the FAA&#8217;s slow approval process for commercial space launch licenses.
Why It Matters: Despite the successful booster catch, Starship's flight was largely similar to its June flight. Some of its flaps seemed to burn up slightly during the vehicle's descent, but Starship managed to survive the plunge before flipping itself and reigniting its engines to splash down in the Indian Ocean, where it subsequently seemed to explode.
SpaceX continues to view the loss of its vehicles during these test flights as opportunities for improvement rather than failures, with each new launch achieving more goals.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

SpaceX Notches Another Milestone With First Booster Catch

Elon Musk once again took to X to express his support for Donald Trump in an election that is just three weeks away, emphasizing the need for secure borders, <a href="https://www.benzinga.com/news/24/09/41082363/heres-how-elon-musk-has-become-a-pro-trump-political-influencer-through-social-media">safe cities, and free speech</a>.
What Happened: On Saturday, Musk underscored the necessity of secure borders, safe cities, free speech, and a smaller government. Musk warned that the situation would worsen if Trump isn&#8217;t elected.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">America needs safe cities, secure borders, free speech, no lawfare &amp; smaller government. If we don't elect <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>, the situation will get MUCH worse! <a href="https://t.co/PI77RzjUqO">https://t.co/PI77RzjUqO</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1844910640290464106?ref_src=twsrc%5Etfw">October 12, 2024</a></blockquote>
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Musk&#8217;s message was in response to a post by Sen. Mike Lee (R-Utah), who criticized New York&#8217;s law enforcement and prosecution.
Also Read: <a href="https://www.benzinga.com/news/24/10/41198624/elon-musk-urges-rally-crowd-vote-for-trump-to-save-democracy">Elon Musk Urges Rally Crowd: &#8216;Vote For Trump To Save Democracy&#8217;</a>
Lee&#8217;s post highlighted an incident where a blind ex-governor was beaten by thugs who had no fear of prosecution.
Why It Matters: Musk&#8217;s tweet comes at a time when political tensions are high in the US. His support for Trump and emphasis on secure borders and free speech reflect the concerns of many Americans. 
The tech mogul&#8217;s influence could sway public opinion, making his political stance significant in the current climate.
Read Next
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Musk Again Touts Donald Trump: 'If We Don't Elect Trump, The Situation Will Get Much Worse!'

Popular social media platform TikTok was aware of the potential harm its algorithm could inflict on minors, according to internal documents that were <a href="https://www.benzinga.com/news/24/04/38348328/tiktok-sale-or-ban-social-media-giants-future-hangs-in-balance-as-house-passes-controversial-bill">unintentionally made public</a>.
What Happened: The internal documents were exposed during a multi-state investigation into TikTok. Reporters from Kentucky Public Radio stumbled upon the fact that redacted sections of court documents could be revealed by copying and pasting them into a new text file.
As reported by <a href="https://www.npr.org/">NPR</a> on Friday, these documents were part of Kentucky&#8217;s contribution to a joint 14-state lawsuit against TikTok for its allegedly addictive algorithm, which is believed to pose a threat to the mental and physical health of child users. 
The internal documents from ByteDance, TikTok&#8217;s parent company, disclose discussions about studies indicating the app&#8217;s potential harm to children, <a href="https://www.businessinsider.com/tiktok-lawsuit-algorithm-children-internal-documents-revealed-2024-10">reports</a> Business Insider.
The documents suggest that children could become addicted to the app after viewing 260 videos, or just 35 minutes of use. Intense use of the app was associated with a variety of negative mental health effects.
In the wake of these revelations, a TikTok spokesperson criticized NPR&#8217;s decision to publish information under a court seal, while defending the company&#8217;s commitment to community safety. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">Is Amazon Eyeing TikTok For A Possible Acquisition?</a>
The spokesperson emphasized TikTok&#8217;s safety measures, such as removing suspected underage users and implementing safety features.
However, the unredacted documents indicate that TikTok was aware that its screen time limiting tools were largely ineffective. This has sparked allegations from attorneys representing plaintiffs in a class-action lawsuit that tech companies intentionally design products to exploit young users, reports the outlet. 
Attorney Jayne Conroy accused these companies of prioritizing user engagement and profits over the mental health of young people. 
Adam Wandt, an associate professor at the John Jay College of Criminal Justice, echoed Conroy&#8217;s sentiments, describing TikTok&#8217;s algorithm as &#8220;one of the most dangerous influences on the planet right now&#8221; for children.
Why It Matters: This revelation could potentially lead to increased scrutiny and regulation of social media platforms, particularly those popular among young users. 
The implications of this could be far-reaching, affecting not only TikTok but the entire tech industry. It also raises questions about the ethical responsibilities of tech companies in designing products that prioritize user safety and well-being.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Leaked Documents: TikTok Knew Algorithm Had Harmful Effects On Children

Shaquille O'Neal, known as Shaq, isn't just a basketball legend – he's also become a <a href="https://www.benzinga.com/personal-finance/24/09/40817545/i-know-im-not-broke-shaquille-oneals-card-was-declined-at-walmart-after-attempting-the-biggest-p">financial guru</a>. After earning a fortune estimated at $700 million during his NBA career, according to Forbes, Shaq has learned a thing or two about managing wealth and his approach might surprise you.&nbsp;
In an interview with CNBC Select in 2024, Shaq shared some of his most valuable money lessons. The most memorable? "It's not about how much you make, it's about how much you keep."
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This simple yet powerful advice reveals a key financial principle that even those with modest incomes can follow. "Save 75% of your earnings and put it away. Use the other 25% as you please," Shaq explained. While saving 75% may sound ambitious for the average person, the core message is clear: it's crucial to prioritize saving, no matter what you earn. The idea is that wealth isn't about flashy lifestyles or splurging on expensive things – real wealth comes from what you save and invest.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
Shaq's financial philosophy is rooted in his own experience. Despite earning hundreds of millions of dollars during his NBA career, he wasn't always financially savvy. Early in his career, he made some rookie mistakes, including blowing through $1 million in just one hour after signing his first major contract. But over time, he learned the importance of discipline.&nbsp;
As one of the most famous names in basketball, he makes it a point to <a href="https://www.benzinga.com/personal-finance/24/09/40943843/we-aint-rich-im-rich-nba-legend-shaq-says-his-daughters-and-sons-dont-get-equal-treatment-my-boy">speak openly and honestly about finances</a>. Sure, most people live on a modest salary and don't have a net worth of hundreds of millions like Shaq, but his words apply just the same. Even high earners can end up with nothing if they don't save and invest wisely. On the other hand, modest earners can become millionaires with some smart and consistent money moves.&nbsp;
Trending: Beating the market through ethical real estate investing' — t<a href="https://www.benzinga.com/money/invest-with-roots">his platform aims to give tenants equity in the homes they live in while scoring 17.17% average annual returns for investors – here&#8217;s how to join with just $100</a>
Shaq often shares his story about his kids to highlight the value of long-term financial planning. While his children may be the offspring of a multimillionaire, Shaq has made it clear they won't receive any free handouts. Instead, he's set a strict rule: "<a href="https://www.benzinga.com/personal-finance/24/08/40658562/nba-legend-shaq-tells-his-kids-in-order-to-get-my-cheese-you-have-to-present-me-with-two-degrees">In order to get my cheese, you have to present me with two degrees</a>."&nbsp;
Shaq believes in hard work, education and self-reliance – even when growing up in the lap of luxury. He insists that earning his fortune wasn't just about his basketball skills; it also required smart decision-making, planning and, as he likes to say, "surrounding yourself with the right people."
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
Shaq has ventured into everything from restaurant chains like Auntie Anne's to a role on the board of Papa John's. His investments aren't just for show – he's made a point of seeking expert advice and doing his research before diving into any business deals. He once said, "You can achieve great things with the proper support system," a mantra he applies to business and personal finances.
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
He also advises in the CNBC interview that even if you can't stash away 75% of your income, you can always start small and scale up as your earnings grow. He recommends setting aside a portion of each paycheck –$50 or $100 – so it compounds and grows over time. By making consistent contributions, no matter how small, you're setting yourself up for long-term financial success.
Shaq's financial success proves that it's possible to go from flashy spender to savvy investor. Whether chasing a dream or just trying to <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">build a better financial future</a>, Shaq's advice on keeping more of what you make is a slam dunk for anyone's financial game plan.
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NBA Legend Shaq Says You Should Save 75% Of Your Paycheck – 'It's Not About How Much You Make, It's About How Much You Keep'

The latest early voting statistics in the U.S. suggest a significant decrease from 2020, potentially posing a hurdle for the <a href="https://www.benzinga.com/news/24/09/41082772/harris-vs-trump-new-polls-show-tight-race-in-battleground-states">Democratic party&#8217;s prospects</a>.
What Happened: A recent poll reveals that the number of early votes cast is considerably lower than previous projections. 
Early voting has seen a 45% decrease compared to the same period in the 2020 elections. Swing states such as Georgia and North Carolina have experienced a particularly drastic drop, with early voting down by 84% and 75% respectively. 
The report suggests that this decline could be attributed to the availability of in-person early voting options, <a href="https://nypost.com/2024/10/11/us-news/early-voting-is-down-and-the-numbers-hold-bad-news-for-democrats/">reports</a> the New York Post.
Data from Republican political strategist John Couvillon show that just 4.2 million Americans have voted early. Another trend that could spell trouble for Democrats is the significant decrease in mail ballot requests, down 58% from 2020. This is noteworthy as Democratic voters have traditionally dominated mail ballots.
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For instance, Joe Biden&#8216;s triumph in Pennsylvania during the 2020 elections was largely due to his 1.4 million-vote lead with absentee voters.
The report also points out an intriguing shift in early voting patterns in Virginia. Although early voting is down overall, more votes have been cast in Republican congressional districts than in safe Democratic seats.
With more than 96% of likely voters still yet to cast their vote, both parties have ample opportunity to shape the race with campaign stops, messages, and tactics.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/10/41196906/polls-suggest-this-candidate-holds-slim-lead-in-presidential-race-with-one-month-to-go" target="_blank" rel="noreferrer noopener">Polls Suggest This Candidate Holds Slim Lead In Presidential Race With One Month To Go</a>
Why It Matters: The decline in early voting and mail ballot requests could be a significant concern for the Democratic party, which has historically relied on these methods. 
The shift in early voting patterns in Virginia could also indicate a changing political landscape. With the majority of likely voters yet to vote, the final outcome remains uncertain. 
The parties&#8217; campaign strategies in the coming days could significantly influence the election results.
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<a href="https://www.benzinga.com/news/24/09/41080153/trump-vs-harris-this-candidate-skyrockets-in-election-forecast-poised-to-secure-victory-in-four-swin" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Skyrockets in Election Forecast, Poised To Secure Victory In Four Swing States</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Bad News For Harris? Early Voting Is Down Drastically From 2020

Elliott Hill's rise to executive prominence at Nike is the stuff of corporate legend. He started as an intern in 1988 and after 30 years of dedication and a brief retirement, he's back to help lead the company he's called home for decades.
<a href="https://www.benzinga.com/news/24/10/41209227/why-nike-stock-is-down-8-over-the-past-week">Nike's stock</a> shot up after the news broke that Hill would replace John Donahoe as CEO. Hill is a familiar face at Nike, having held multiple roles at the company. He's done everything – from sales intern to VP positions and now the top job.&nbsp;
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Born in Austin, Texas, Hill credits his work ethic to his mother, a single mom who set an &#8220;unbelievable example in terms of commitment,&#8221; he told the FORTitude podcast, as quoted by Reuters. Hill's humble beginnings and relentless drive perfectly fit Nike's core values. He even joked on the podcast about how he once put 60,000 miles on an old Chrysler minivan, driving around to sell shoes in his early years at Nike.
Hill's loyalty to the brand isn't just in his job titles. Nike's Executive Chairman, Mark Parker, praised him in a statement for his decades of work, saying Hill helped shape Nike into "the magical place it is today." Hill himself is eager to reconnect with old colleagues and create new partnerships. He said, "Nike has always been a core part of who I am."
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Hill isn't just a <a href="https://www.benzinga.com/24/10/41165282/nike-gears-up-to-get-back-in-shape-with-a-new-leader">corporate climber. </a>He's also built strong relationships with Nike's key athletes, including Michael Jordan. Hill famously recalled Jordan joking about his global expansion plans for the Jordan brand, saying, &#8220;If our revenue goes back, I'm going to come and stuff that shoe up your rear," he said on the FORTitude podcast, as quoted by Reuters.
Analysts are optimistic, hoping Hill's deep roots at Nike will help revitalize the brand. Jessica Ramirez, an analyst at Jane Hali and Associates, didn't sugarcoat it when she told Reuters: &#8220;At Nike, the culture has fallen apart.&#8221;
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Hill's insider status might just be what Nike needs to get back on track. His return to Nike comes at a pretty crucial time. Nike&#8217;s not flying high right now – sales are down and competitors are stealing market share. Plus, the company is trying to slash $2 billion in costs over the next few years, according to Reuters. Hill's expected to bring some fresh energy.
Wall Street is hopeful, too. Brian Nagel from Oppenheimer put it bluntly when he told Reuters: &#8220;Product innovation at the company is still lacking.&#8221; And a lot of people agree. Nike's lost some of its creative magic and it's showing. But with Hill back, there's hope the brand can refocus on what made it iconic: groundbreaking, can't-live-without products.
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But what makes Hill's story even cooler? It's personal. His rise from intern to CEO is rare in today's world of constant job-hopping. It shows that loyalty and grit can still pay off when a company is willing to invest in its people.
As Hill takes the reins, everyone's watching to see how he'll steer the ship. He's got Nike in his blood after 30-plus years. If anyone can guide the brand through rough waters, it's him. And Nike is banking on that deep connection to its roots to find its way forward.
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Startups

Nike's New CEO Started As An Intern – Here's What's Behind His 30-Year Climb To The Top

Elon Musk is on a trajectory that could see him crowned as the world&#8217;s first trillionaire by 2027, according to a recent study by Informa Connect Academy.
What Happened: As of last month, Musk&#8217;s net worth is estimated to be around $265 billion, a figure that has been steadily climbing.
As per a report <a href="https://www.cnbc.com/2024/10/12/elon-musk-could-become-worlds-first-trillionaire.html">by</a> CNBC, the primary driver of Musk&#8217;s wealth has been the performance of Tesla&#8217;s stock. The stock experienced a significant surge during the pandemic, skyrocketing from approximately $30 per share in January 2020 to nearly $300 per share by January 2021.
James Pethokoukis, an economic policy analyst at the American Enterprise Institute, attributed the growth of companies like Tesla to their ability to produce valuable products that consumers desire. 
"If you look at the list of the richest Americans, whether we're talking about Elon Musk or Jeff Bezos, the reason people get super rich is they start a company and they grow that company," Pethokoukis told the outlet.
Wealthier individuals, such as Musk, often have larger portions of their assets invested in the stock market, which contributes to their increasing wealth.
However, this trend has also led to a rise in wealth inequality. The wealthiest 1% of Americans now own nearly 50% of all U.S. stocks. 
The role of taxation in this inequality is a contentious issue, with some arguing that changes in tax policy have made it more difficult to tax the wealthy.
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Why It Matters: The projection of Musk&#8217;s wealth reaching the trillion-dollar mark by 2027 underscores the significant impact of the stock market on individual wealth accumulation. 
The performance of Tesla&#8217;s stock has been a key factor in Musk&#8217;s wealth growth, demonstrating the potential for substantial wealth creation through stock market investments.
However, the rise in wealth inequality that accompanies such growth raises important questions about the role of tax policy in addressing this issue. 
As the wealth of individuals like Musk continues to increase, the debate over how to effectively tax the wealthy is likely to intensify.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSLA

Elon Musk On Track To Become World's First Trillionaire Within Three Years

Vice President <a href="https://www.benzinga.com/real-estate/24/08/40441654/25-000-to-buy-your-first-home-harris-proposes-game-changing-assistance-for-new-buyers-but-will-it-wo">Kamala Harris </a>has endorsed a tax proposal that is lighting up debates everywhere. The 25% minimum tax on total income, including unrealized capital gains, targets the ultrawealthy, particularly those with over $100 million fortunes. While some see this as a bold move toward fairness, many financial experts and political voices are raising alarm bells.
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Jason Katz, managing director and senior portfolio manager at UBS, is among the most outspoken critics. In an <a href="https://www.youtube.com/watch?v=f3JX585JIMM">interview with Fox Business</a>, Katz didn't mince words, calling the proposal "an unmitigated disaster."&nbsp;
According to him, taxing unrealized gains – that is, gains on assets that haven't been sold yet – would create an &#8220;accounting nightmare.&#8221; He painted a grim picture of taxpayers facing massive bills for gains that could easily disappear the following year.&nbsp;
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Katz illustrated his point with a hypothetical scenario, asking, "If you have an ultra high net worth person who bought, say, $100 million worth of Amazon and it goes to $150 million and the government taxes 23% on that $50 million in year one, if in year two, that $150 – because Amazon drops – goes back to $100 million, is the government going to rebate the tax from the previous year?"&nbsp;
"It would be an accounting nightmare, not to mention the fact it would suck money out of the capital markets," he said. He added that it ‘made no sense' applying the tax to other asset classes like real estate, where investors also see unrealized gains.&nbsp;
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While Katz and other critics warn of potential market disruptions, the Biden administration defends the proposal as a necessary step to close loopholes that allow the wealthiest Americans to avoid paying their fair share.&nbsp;
An entrepreneur and &#8220;Shark Tank&#8221; investor, Mark Cuban offered a somewhat different perspective. According to CNBC's Squawk Box, the billionaire entrepreneur and "Shark Tank" star claims to have spoken with Harris&#8217; team directly.&nbsp;
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He said Harris&#8217; aide told him that unrealized capital gains wouldn't be taxed, which contradicts what has been circulating about the proposal. Even within Harris' camp, there's a bit of a disconnect on what the plan entails.
However, tax proponents, such as Democratic Sen. <a href="https://www.benzinga.com/personal-finance/24/10/41199549/kevin-oleary-respects-aoc-and-elizabeth-warren-says-business-is-tough-but-politics-thats-a-whole">Elizabeth Warren</a>, argue that taxing unrealized capital gains could help close the wealth gap by ensuring that the ultrawealthy pay their fair share. According to a report from The New York Times, wealth inequality in the U.S. has reached levels not seen since the 1920s.&nbsp;
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From an economic perspective, critics, including former CKE Restaurants CEO Andy Puzder, have called the proposal "voodoo economics." Speaking on Fox Business's ‘Evening Edit,' he said, &#8220;The idea that we&#8217;re going to tax unrealized capital gains, that&#8217;s just absurd. This is voodoo economics … it's absolutely ridiculous.".
There are also logistical hurdles to consider. Analysts have pointed out that taxing unrealized gains would likely require new reporting systems and create huge compliance headaches for taxpayers and the IRS.&nbsp;
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This Market Pro Says Kamala Harris' Unrealized Capital Gains Tax 'Makes No Sense' And Will 'Suck Money Out Of The Market'

In a <a href="https://www.youtube.com/live/AD5Y9IMENys?si=GY6m540YBuJGYLOc&amp;t=2257">recent episode</a> of The Ramsey Show, financial experts <a href="https://www.benzinga.com/personal-finance/24/10/41213012/dave-ramseys-bold-plan-to-fight-inflation-could-his-radical-approach-help-you-keep-more-cash-in-">Dave Ramsey</a> and Ken Coleman discussed an interesting dilemma presented by Phillip, a caller from Pittsburgh.&nbsp;
Phillip works full-time in tax planning and consulting and has been growing a $30,000-a-year side hustle in the same field. Now, he's been offered the opportunity to buy a $225,000 tax preparation and consulting business from an older owner.&nbsp;
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The big question: Should he buy the established business or continue to grow his side hustle organically?
Phillip shared that his <a href="https://www.benzinga.com/general/education/24/08/40544061/young-entrepreneur-makes-354-000-a-month-tips-on-turning-side-hustle-into-big-business">side hustle</a> is relatively new, generating about $30,000 in revenue, of which he's kept around $5,000 after reinvesting in the business. His full-time job brings in a $90,000 salary, making his side hustle a <a href="https://www.benzinga.com/news/earnings/24/10/41271760/two-high-yield-etf-cash-machines-for-your-retirement-portfolio">supplementary income stream</a>. He's intrigued by the prospect of taking over the established business, but he would need to finance the deal through the current owner, as he doesn't have the cash to purchase it outright.
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Dave Ramsey immediately got down to the numbers. Phillip stated that the existing business bills between $175,000 and $180,000 per year, with an estimated net profit of $75,000. That's a roughly 50% profit margin, which sounds appealing.&nbsp;
However, Ramsey pointed out that those numbers hinge heavily on Phillip's ability to retain clients, manage the workload or hire someone to take over the tax preparation work.
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Ramsey said, &#8220;You don't want to buy a job; you want to buy a business." If Phillip were to purchase the practice, he would likely need to hire someone to manage the tax preparation. Ramsey estimated that this would cost Phillip around $50,000 annually, leaving him with a net profit of only $25,000 from the purchased business – on a $225,000 investment.
"Not a chance it&#8217;s worth that," Ramsey said.
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Ramsey didn't think the math added up. The potential net income wasn't worth the investment, especially considering the risk that Phillip might lose clients due to the transition. Phillip also commented that many clients are loyal to the current owner and any price increases could further drive them away.
Ken Coleman echoed Ramsey's concerns and encouraged Phillip to focus on his growing side hustle instead. Coleman highlighted Phillip's progress so far, noting how impressive it was that he had built up a business while maintaining a full-time job. With a strong salary and a growing side hustle, Coleman suggested Phillip take the more cautious route and avoid taking on debt to buy the larger business.
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"I don't see a huge windfall to take on this financing," Coleman said. "I don&#8217;t think it&#8217;s enough of a benefit to take on the debt. It doesn't make sense to me."
Both Ramsey and Coleman explored other options that Phillip could consider. Ramsey floated the idea of structuring a deal with the current business owner where Phillip wouldn't purchase the practice outright but would instead share revenue for a set period.&nbsp;
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Another suggested option was a "finder's fee" arrangement, where Phillip could take over the clients and pay the original owner a referral commission. This would allow him to grow his client base without taking on a large debt upfront.
In the end, Ramsey and Coleman's advice was clear: buying the $225,000 business didn't make financial sense. Instead, Phillip should continue to build his side hustle organically, avoiding <a href="https://www.benzinga.com/personal-finance/24/09/40838359/dave-ramsey-says-youre-wasting-5-000-a-year-if-you-spend-13-70-a-day-on-things-you-dont-need">unnecessary debt</a> and growing his business at his own pace.
For anyone considering a similar decision, Ramsey stresses the following take-away: don&#8217;t buy yourself a job. Instead, focus on creating a business that provides value and generates income without burdening you with overwhelming debt.&nbsp;
You may also contact a trusted <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> to help outline the benefits and drawbacks unique to your situation. They can help you better understand the financial pros and cons to make the most informed decision.&nbsp;
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