New FTX CEO testifies before Congress; EU imposes first green tariff on goods; and a vaccine combo that lowers cancer risk. These stories and more highlight the midday rundown, aimed straight down the middle, for Tuesday, Dec. 13, 2022.
FTX CEO testimony
“The FTX group’s collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a company entrusted with other peoples money or assets,” said John Ray, FTX’s new CEO.
Ray is criticizing the former leadership. While its founder, Sam Bankman-Fried, sits behind bars in the Bahamas awaiting expedition to the U.S. Ray accuses Bankman-Fried of gambling with customers money in risky trades.
The new CEO is investigating the ins-and-outs of FTX and predicts it will be a lengthy process. He says his investigation right now is hampered by the lack of financial records and transparency.
EU imposes first global green tariff on goods
The European Union has voted today to implement the first ever green tariffs on imported goods. Items being shipped to the EU will be checked for their carbon output. Items like iron, steel, aluminum and chemicals will be first subjected to the new standard.
Companies, including those in the U.S., that ship to countries in the EU will face tax penalties dependent on the amount of carbon emissions. It’s the first global green tax of its kind.
United Airlines places historic order for Boeing planes
United Airlines is expanding its fleet with a historic purchase of Boeing planes.
They are looking to add 100 of larger Boeing models, with two aisles that are suitable for international flights with another 100 of those planes on hold. United is also buying dozens more of Boeing’s smaller domestic flight models to the same massive order.
The new planes are projected to replace older, less efficient ones.
Study reveals vaccine combo that lowers skin cancer risk 44%
A new medical trial is bringing new hope in preventing skin cancer deaths. The risk of death or recurrence of skin cancer dropped by 44% for patients participating in the study.
The treatment is a combination of an experimental vaccine from Moderna and an immunotherapy drug from Merck. This is the first combination of its kind to fight melanomas.
It’s something Moderna’s chief medical officer called “a new paradigm in the treatment of cancer.”
Mississippi head coach Mike Leach dies
Mississippi State Head Football Coach Mike Leach has died after suffering from heart complications. He was 61 years old.
He leaves behind a long coaching career, spending time at Texas Tech, Washington State and the last three seasons with Mississippi State.
The other part of his legacy comes not on the field, but at the podium. His colorful commentary and sense of humor has entertained fans for years.
“Right now we have the atmosphere of a J.V. softball game. That’s what we are, a J.V. softball game. It’s not whether you win or lose, the team that wins is the one who had the most fun, you know, crap like that,” Leach said, speaking to his players about a poor performance on the field.
Leach was also known for cursing during post-game press conferences.
“It’s like Huckleberry Finn said, ‘some days I just have to swear to get a good taste in my mouth,'” Leach said.
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KARAH RUCKER: TOPPING OUR NEWS TODAY, THE NEW FTX CEO TESTIFYING BEFORE CONGRESS. SAYING THERE’S BEEN “NEAR ZERO” RECORD KEEPING FROM THE COMPANY. THIS IS YOUR MIDDAY RUNDOWN AIMED DOWN THE MIDDLE WITH STRAIGHT ARROW NEWS.
FTX CEO TESTIMONY
JOHN RAY | FTX CEO: “The FTX group’s collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a company entrusted with other peoples money or assets.”
RUCKER: FTX CEO JOHN RAY IS BLASTING THE FORMER LEADERSHIP. WHILE ITS FOUNDER, SAM BANKMAN-FRIED, SITS BEHIND BARS IN THE BAHAMAS AWAITING EXPEDITION TO THE U.S.
JOHN RAY ACCUSES BANKMAN-FRIED OF GAMBLING WITH CUSTOMERS MONEY IN RISKY TRADES.
RAY IS INVESTIGATING THE INS-AND-OUTS OF FTX AND PREDICTS IT WILL BE A LENGTHY PROCESS. HE SAYS HIS INVESTIGATION RIGHT NOW IS HAMPERED BY THE LACK OF FINANCIAL RECORDS AND TRANSPARENCY.
EU IMPOSES FIRST GLOBAL GREEN TARIFF ON GOODS
THE EUROPEAN UNION HAS VOTED TODAY TO IMPLEMENT THE FIRST EVER GREEN TARIFFS ON IMPORTED GOODS. ITEMS BEING SHIPPED TO THE EU WILL BE CHECKED FOR THEIR CARBON OUTPUT.
ITEMS LIKE IRON, STEEL, ALUMINUM, AND CHEMICALS WILL BE FIRST SUBJECTED TO THE NEW STANDARD.
COMPANIES, INCLUDING THOSE IN THE U.S., THAT SHIP TO COUNTRIES IN THE EU WILL FACE TAX PENALTIES DEPENDENT ON THE AMOUNT OF CARBON EMISSIONS.
IT’S THE FIRST GLOBAL GREEN TAX OF ITS KIND.
UNITED AIRLINES PLACES HISTORIC ORDER FOR BOEING PLANES
UNITED AIRLINES IS EXPANDING ITS FLEET WITH A HISTORIC PURCHASE OF BOEING PLANES.
THEY’RE LOOKING TO ADD ONE HUNDRED OF THE BIGGER BOEING MODELS WITH TWO AISLES SUITABLE FOR INTERNATIONAL FLIGHTS. WITH ANOTHER ONE HUNDRED OF THOSE PLANES ON HOLD.
UNITED IS ALSO BUYING DOZENS MORE OF BOEING’S SMALLER DOMESTIC FLIGHT MODELS TO THE SAME MASSIVE ORDER.
THE NEW PLANES ARE PROJECTED TO REPLACE OLDER, LESS EFFICIENT ONES.
STUDY: VACCINE COMBO LOWERS SKIN CANCER RISK 44%
A NEW MEDICAL TRIAL IS BRINGING NEW HOPE IN PREVENTING SKIN CANCER DEATHS.
THE RISK OF DEATH OR RECURRENCE OF SKIN CANCER DROPPED BY 44 PERCENT FOR PATIENTS PARTICIPATING IN THE STUDY.
THE TREATMENT IS A COMBINATION OF AN EXPERIMENTAL VACCINE FROM MODERNA AND AN IMMUNOTHERAPY DRUG FROM MERCK. THE FIRST COMBINATION OF ITS KIND TO FIGHT MELANOMA.
IT’S SOMETHING MODERNA’S CHIEF MEDICAL OFFICER CALLED “A NEW PARADIGM IN THE TREATMENT OF CANCER.”
MISSISSIPPI HEAD COACH MIKE LEACH DIES
MISSISSIPPI STATE HEAD FOOTBALL COACH MIKE LEACH HAS DIED AFTER SUFFERING FROM HEART COMPLICATIONS. HE WAS 61 YEARS OLD.
HE LEAVES BEHIND A LONG COACHING CAREER, SPENDING TIME AT TEXAS TECH, WASHINGTON STATE AND THE LAST THREE SEASONS WITH MISSISSIPPI.
THE OTHER PART OF HIS LEGACY COMES NOT ON THE FIELD, BUT AT THE PODIUM.
HIS COMMENTARY A LOT OF TIMES COLORFUL AT THE MICROPHONE, BUT WITH A SENSE OF HUMOR THAT FANS FOUND ENTERTAINING.
MIKE LEACH | LATE MISSISSIPPI COACH: “Right now we have the atmosphere of a J.V. softball game. That’s what we are a J.V. softball game. It’s not whether you win or lose, the team that wins is the one who had the most fun, you know, crap like that./
It’s like Huckleberry Finn said, some days I just have to swear to get a good taste in my mouth. / the mighty Red Raiders oh yea poo poo f*** Baylor f*** you, and f*** me and f*** everybody.”
I THINK WE WILL END ON THAT NOTE…REST EASY, COACH.
THANK YOU FOR JOINING US HERE AT STRAIGHT ARROW NEWS.
WHERE WE STRIVE TO BRING YOU JOURNALISM WITHOUT AGENDA.
WE’LL SEE YOU TOMORROW. HAVE A GREAT DAY.