Corporate · 8 posts
Brief 14h ago

Spirit Promised a Dementia Patient Safe Passage. Then Let Him Walk Into Traffic.

Marcos Humberto Vindel Osorio, 75, flew into Houston's George Bush Intercontinental Airport on June 8, 2024. His family had told Spirit Airlines he had dementia. Spirit confirmed assistance would be provided. By 7:43 p.m., Customs records show he had cleared the terminal alone. His family waited at the checkpoint. He never came. He was found dead on the side of a Texas freeway, struck by multiple vehicles.

Said attorney Russ Brudner: "They trusted an airline to keep their father safe for the last few miles of his journey home. That trust was broken in the most devastating way possible."

The family filed suit April 22 — less than two weeks before Spirit declared bankruptcy. They're now a creditor in liquidation proceedings. The boardroom cut costs until there was no one left to walk an old man to his daughter. That's not an accident. That's what race-to-the-bottom looks like when a working family pays the price.

Source: New York Post CorporateAnti-CorruptionRuleofLaw
Brief 16h ago

Nike Collected $1 Billion in Tariff Costs From You. Now It Wants to Keep the Refund.

A proposed class action filed Friday in Portland federal court says Nike charged customers $5–$10 extra per pair of shoes and $2–$10 more per apparel item to cover tariff costs — then made no commitment to pass refunds back after the Supreme Court struck down those tariffs in February.

The complaint is plain: "Nike stands to recover the same tariff payments twice — once from consumers through higher prices and again from the federal government through tariff refunds." Nike confirmed it paid roughly $1 billion in tariffs on imported goods. That's your money, working its way from your wallet to Beaverton boardrooms.

Nike joins Costco and EssilorLuxottica (Ray-Ban's parent) facing similar suits. Some say this is a tariff policy debate — the deeper issue is a $1 billion corporation that passed every cost down to working folks and is now angling to pocket the rebate.

Source: New York Post CorporateAffordabilityMonopoly
Brief 18h ago

Musk Pocketed $150M, the SEC Wants $1.5M Back, and a Judge Said Not So Fast

A federal judge in Washington, D.C. refused to rubber-stamp the SEC's $1.5 million settlement with Elon Musk on Friday, saying she needs to determine whether the deal is fair to the public and whether it is — her words — "tainted by improper collusion or corruption."

Here's the receipt: Musk allegedly waited 11 days past the legal deadline to disclose he had crossed a 5% ownership stake in Twitter, buying shares at depressed prices and pocketing roughly $150 million before markets could react. The proposed settlement lets him keep every dollar of that and admit zero wrongdoing. The SEC filed the lawsuit on January 14, 2025 — six days before Biden left office. By March 17, with new SEC enforcement chief Margaret Ryan freshly gone, both sides announced a settlement.

A $1.5 million clawback on a $150 million gain isn't accountability — it's a cover charge. Judge Sparkle Sooknanan ordered both sides back to court May 13. The boardroom is watching to see if this one slips through.

Source: New York Post WallStreetSECCorporate
Brief 1d ago

While You Paid Your Deductible, the CEOs Hired Justin Bieber

Jeffrey Katzenberg's invite-only WNDR26 confab wrapped up its fifth year at the Rosewood Miramar in Montecito — poolside Bieber concert, Chris Rock judging a Lego competition, Oprah interviewing a Chanel CEO. Press barred. No social media allowed. No plus-ones, either.

The guest list reads like a cap table that owns Washington: NVIDIA's Jensen Huang, Palantir's Alex Karp, Alibaba's Joe Tsai, YouTube CEO Neal Mohan, Anduril's Palmer Luckey. Said one attendee: "It's the head of every major tech company, and then a handful of celebrities like Oprah, Bieber, Kendrick and the rest are AI billionaires."

Some say these are just rich people having fun. The deeper issue is that the same men setting your drug prices, your streaming bills, and your kid's feed are coordinating off the record — then walking back into boardrooms that set policy for the rest of us.

Source: New York Post CorporateWallStreetExecutiveComp