NBA Came In $1.5 billion Under Revenue Projections In 2020, Targets Dec 22 As Start To Coming Season

The board is targeting a Dec. 22 start to what would be a season of 70 to 72 games, with the NBA Finals ending in June again as has been in the case for many years, according to a person with knowledge of the situation. The person, who spoke to The Associated Press Friday on condition of anonymity because no plan has been finalized, said the possibility of fans being at games would hinge on how a particular market is faring against the coronavirus at that time.

There are other options, such as waiting until later in the season to begin play with the hope that more arenas would be able to have fans. But starting in December instead of mid-January or later could generate a difference of roughly $500 million in revenue, the person said.

Revenue projections for the league this season were missed by about $1.5 billion, the person said. The losses were the result of a combination of factors — the shutdown caused by the pandemic, the cancelation of 171 regular-season games, completing the season in a bubble at Walt Disney World without fans, the nearly $200 million price tag for operating that bubble and a yearlong rift with the Chinese government that saw NBA games not shown on state television there.

Source: The Associated Press

For the first time since the Great Depression, a majority of young adults (ages 18-29) in the U.S. now live with their parents — Report

As COVID-19 swept the country this year, millions of young adults retreated to familiar territory: living at home with mom and dad.

A majority of young Americans ages 18 to 29 are now living with at least one of their parents, according to a Pew Research Center analysis of Current Population Survey data. About 52% of this age group, 26.6 million people in total, were living with their parents in July, compared to 47% at the same time last year. This number surpassed the previous record of 48%, which was set in 1940, during the Great Depression.

Since the proportion of 18 to 29 year olds living at home hit a low of 29% in 1960, the number has risen over the decades, jumping to 36% in 1990, to 38% in 2000 and 44% in 2010. However, the increase this year is notably sharp, and tracks with the trajectory of the pandemic; while about 46% or 47% of young adults lived at home through 2019, in 2020 the number jumped to 49% in March, 51% in April and 52% from May through July.

Source: Time

Full House Actress Lori Loughlin Gets 2 Months Jail Time And Husband Mossimo Giannulli Gets 5 In 2019 College Admissions Bribery Scandal To Get Their 2 Daughters Into USC

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The couple paid $500,000 to college admissions mastermind Rick Singer to get their daughters into USC as crew recruits—with falsified athletic records—as part of a larger bribery scheme, according to court documents.

At least 53 and $25 million. That’s how many people have been charged as part of the scandal.  And at least 33 parents have been accused of paying $25 million to Singer from 2011 to 2018 as part of the scheme.

Loughlin has “a fairytale life,” the judge said. As he handed down the sentence, he addressed her, saying, “you stand before me a convicted felon, and for what? The inexplicable desire to have even more.” He told Giannulli during his earlier sentencing: “You are an informed, smart, successful businessman. You certainly did know better, and you helped sponsor a breathtaking fraud on our admissions system.

The college admissions scandal investigation, codenamed “Operation Varsity Blues” by the Department of Justice, was made public in March 2019. The group of parents accused in the case were believed to have used phony athletic, academic and test score records, along with bribery, to get their children into Yale, Stanford and USC, among other schools. All but one parent have been sentenced to prison time. Loughlin’s daughter (and influencer) Olivia Jade Giannulli has not returned to USC since August 2019. She was falsely presented to USC as an accomplished coxswain in crew, and fake photos were taken of her on a rowing machine.

Source: Forbes

Kobe Bryant: The Life and Legacy of Basketball’s Greatest Mind

In his 20 seasons with the Los Angeles Lakers, Kobe Bryant was the heart of the city and stands as one of the greatest NBA players of all time. For the majority of his life, basketball was the most important thing, but he was so much more than an athlete. Kobe was a husband, a father, a friend, and a mentor. It’s heartbreaking that we’ll never get to see his future dreams realized, but we can know one thing: like every other chapter in his life, it would’ve been great.

Whole Foods CEO reportedly recommends that employees ‘donate’ PTO to one another amidst the coronavirus pandemic

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Whole Foods CEO John Mackey reportedly sparked some ire by suggesting that employees “donate” their paid time off to coworkers sick with the coronavirus.

Vice’s Motherboard reported that Mackey sent out an email to store-level workers on Wednesday, outlining company protocols and benefits amidst the COVID-19 pandemic. His memo included a note highlighting the grocery company’s longstanding policy of allowing employees to “donate” PTO to sick or grieving coworkers “across the country.”

Source: Business Insider