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The Power Couple, Alex Rodriguez and Jennifer Lopez Continue Bid to Buy the Mets Reportedly Adding A New Billionaire Partner:

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Alex Rodriguez and Jennifer Lopez continue Bid to buy

The hot Hollywood couple, Alex Rodriguez and Jennifer Lopez are among the bids in New York Mets Sale Auction. The National League Team, the NY Mets are getting sold by the Wilpon family. The NY Mets are currently owned by the Billionaire Wilpon family but in December, the family tried to sell 80% in a deal that valued the New York organization at $2.6 billion.

The American Billionaire hedge fund manager tried to buy the National Baseball league but he needed $250 million more so he walked away unsuccessfully as the negotiations fell apart, no luck came along so they are still looking for the buyer but they are reportedly hoping to seal the deal before the end of this year.

Joining hands with the businessman, Mike Repole

Joining hands with the businessman, Mike Repole:

Adding to their appeal as baseball owners, both A-rod and J-lo were born in New York City. According to a source, the former Yankee slugger’s bidding team offered approximately $1.7 billion dollars. With Steve Cohen at $2 billion, the star couple has reportedly added a general partner to their ownership i.e. Mike Repole. 

Repole is involved in various ownerships as well as a lifelong Mets fan and a Queens’s native. It was reported previously that the Wilpon Family is reluctant to sell SportsNet New York but now it appears that they are serious about making the deal. 

As a conclusion, the first round for the Mets bidding is in and it seems that Cohen has the highest offer but he wasn’t the only buyer as the rival party, Jennifer Lopez and Alex Rodriguez have made necessary funding and made a bid before the Thursday’s deadline which is good enough to keep them in the game. Several sources confirmed that Jeff Wilpon, Mets COO is leaning towards selling it to the Hollywood couple if their bid is the best one at the auction. However, their joint Net worth is about $750 million putting them at a disadvantage against their rivals. 

couple’s previous projects together

The couple’s previous projects together:

This isn’t the first time the power couple of 3 years has joined forces to make major money moves as the love birds have also launched their personal training app and have an impressive food delivering service as the famous singer, Jennifer Lopez told the People’s magazine, “We’re constantly supporting each other in our individual endeavors and thinking about all the things that we can build together”.

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Brooks Brothers, A Lavish Retailer Found In 1818, Reported A Case For Bankruptcy: Intending To Shutdown A Number Of Stores

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Brooks Brothers

Brooks Brothers, the first luxurious ready-to-wear fashion for men in America was founded in 1818, 202 years ago as a family business by Henry Sands Brooks.  

It is mainly located in Manhattan, New York, Madison Avenue. It is owned by a private billionaire, Claudio Del Vecchio. Apart from men’s clothing the company also designs a variety of clothes for women and some high-quality vintage furniture.

FILES BANKRUPTCY, JULY 2020:

The company Brooks Brothers filed bankruptcy for Chapter 11 in July 2020, in order to survive through any turbulence amidst the ongoing pandemic COVID-19.

The founder Henry Sands Brooks informed about more than 50 stores being closed and opting for a sale. Brooks Brothers are amongst one of the many other retailing companies who have filed bankruptcy after falling deep into the loss they had as a result of COVID-19.

They had to shut down due to health concerns. Other companies who filed for bankruptcy included Neiman Marcus, J.C. Penny, J. Crew, and Chuck E. Cheese. According to the report, the company owes around $500 million to $1 billion to a huge number of creditors that are over 25,000. Apart from this, they owe $8 million rent money.

DEL VECCHIO’S STATEMENT:

He states that ‘the company wants to start this new venture with a new owner who’s competent enough to run it and knows the importance of Brooks Brothers’.

Reportedly, before filing the case the company was allegedly shutting down around 51 of its 250 stores located in North America. The company has 424 stores globally and around 4,000 employees out of which about three-fourths of them were downsized due to the current situation.

One of the reasons for this was that the company was failing recently to meet the demands of their consumers and were unable to give products according to the consumer’s tastes and styles.

Brooks Brothers were without a shadow of a doubt one of the best retailers who designed clothes, watches, ties, and what not, for men and many products for women. 40 out of 45 U.S. Presidents wore their designs. They also made uniforms for the U.S. Military during the Civil War. 

POTENTIAL SALE PLANS:

Stephan Marotta, a chief restructuring officer, said that the company had planned to survey a potential sale before the outbreak of the pandemic, in 2019.

These talks vanished in the air because of the outbreak of COVID-19 and the company managed to open and run only 18 stores out of 236 all around the U.S. due to the deadly Coronavirus.

The company also makes and supplies clothes to other companies like Macy’s and Nordstrom, in addition to its own stores. They make uniforms for U.S. military and other companies like United Airlines,

NOVEL CORONAVIRUS: 

Due to the contagious virus, the company had to shut down a majority of its stores which resulted in a huge loss. The company put their items on a 70% clearance sale and said that it will take a while for the company to go back to its normal state.

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Stock Market States: Tesla Expected to Boost it’s Prices by 24% in the Coming Year Due To the Immense Growth in it’s Income, Up to $100 Billion by 2025

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TESLA

Wall Street recently reported that Tesla is boosting its prices by 24% in the coming year. The shares increased as much as 11%, which marks $1,342 to an all-time. The prices of Tesla were boosted up to 24% after the JMP security analyst, Joe Osha, increased his price up to $1,500, to a Wall Street.

The company is likely to have huge growth in income, which is expected to be $100 Billion, by the year 2025. This became one of the few reasons to boost up the prices and shares. The sudden increase in the JMP took place when Tesla reported second-quarter deliveries that were more than the expected number, which was about 70,300, while they made up to 90,650 deliveries according to a report.

Tesla Stock

Joe Osha stated:

If Tesla can manage to deliver such an impressive unit, which was over 90K, then TLSA is competent enough to be shipping 130K to 140K units a quarter by the end of this year and that they have to achieve a target of shipping 757K units in 2021.

Moreover, Osha predicted that the growth of Tesla would reach up to $100 Billion by the year 2025. Which would be a huge deal for them.

History:

Tesla is said to be one of the biggest companies which were found in the year 2003 by the two American businessmen, Martin Eberhard and Marc Tarpenning, and the company was named after Nikola Tesla who invented the Serbian American.

The main goal of the company was to make electric motor cars. The CEO of the Tesla company was Martin Eberhard, and Marc Tarpenning was the acting CFO of the company. The company was founded and sponsored by the co-founder of PayPal, Elon Musk, who funded up to $30 million to the company to achieve its target and became the chairman of Tesla in 2004.

In the year 2008, Tesla motor launched its first car, Roadster. That had a mileage of 245 miles(394 km), in the first go, the performance of the vehicle was noted to be extraordinary. Its motor was powered by lithium-ion cells that are typically used in computer batteries. The cost of this fancy vehicle was set up to $109,000, which was exclusive of the tax.

In 2007, both the CEO(Eberhard) and CFO(Tarpenning) left the company but remained the shareholders. Elon Musk then took over as a CEO and president of the company.

Furthermore, Tesla launched it’s next Model S Sedan in 2012.

The company also launched a number of solar energy equipment, which were used to store electrical power from solar energy, to use in homes and offices. This equipment was launched in 2015. In 2016 Tesla launched its solar panel company, named ‘SolarCity’, that was changed to ‘Tesla’ in the year 2017.

In the ongoing year, Elon Musk made a statement about making Tesla a private company and that the funding has been secured. Which later on turned out to be a fraud for which he was charged by the Securities and Exchange Commission(SEC).

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