Fashion

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Published

1 year ago

2023-11-20

Kiara Grace

Donald Trump ‘s legal team completed the first week of his defense case in the New York civil fraud trial, continuing to build the former president’s defense around experts who provided a different interpretation of the rules the attorney general claims Trump and his business violated to commit fraud.

Trump’s lawyers called six expert witnesses on accounting, real estate, and surety insurance to refute the attorney general’s charges – and Judge Arthur Engoron’s earlier ruling – that the corporation committed fraud.

Engoron, on the other hand, ruled repeatedly in Trump’s favor in court this week, allowing witness testimony and evidentiary submissions over objections from the New York attorney general’s office.

Engoron frequently ascribed the moderate rulings to his efforts to avoid a case reversal or retrial.

“There’s no jury, no prejudice,” the judge declared. “Allow them to present their defense.”

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

In a win for Trump, a New York appeals court temporarily lifted Engoron’s gag order on parties, preventing them from discussing his personnel.

Here’s what you need to know about the week in court:

On Monday, Donald Trump Jr. was the first witness in the defense case to take the stand for the second time at trial.

Trump Jr., also a named defendant, provided the court with a colorful history of the Trump Organization, much of which was gleaned from advertising materials on the company’s website.

The attorney general’s lawyers contended that most promotional photo-laden testimony was irrelevant, but Engoron found it important and fascinating.

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

According to Trump Jr., his father created the family business by taking over run-down properties and utilizing his ” visionary ” skills to transform them into some of the best in the city, country, and, in some cases, the globe.

“He’s a real estate artist.” “He notices things that others don’t,” Trump Jr. remarked of his father.

An appellate judge granted a stay Thursday temporarily blocking Engoron’s gag order, which banned him and his lawyers from discussing the judge’s staff.

“Considering the constitutional and statutory rights at issue, an interim stay is granted,” First Judicial Department Associate Justice David Friedman wrote in a brief statement following an emergency hearing Thursday afternoon.

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Engoron already penalized the former president $15,000 for his public complaints about the law clerk who sits next to the judge on the bench and feeds him notes during the trial.

Accounting expert Jason Flemmons testified that there are multiple ways to calculate asset valuations under governing accounting principles, and Donald’s financial statements used compliant methodologies – and to the extent they didn’t, disclosures about those deviations from accounting standards were included in the reports, making them compliant as well.

While 95% of the assets listed on Donald’s 2014 personal financial statement deviated from generally accepted accounting principles (GAAP), the statements properly disclosed the deviations, according to Flemmons, a certified fraud examiner previously working for the Securities and Exchange Commission enforcement division.

“I don’t believe that I identified any GAAP departures within these supporting materials that were not covered by disclosure in the accountant’s report [or] notes of the finals statements,” Flemmons said in a written statement.

Flemmons claimed that Mazars, the Trump Organization’s long-time accounting firm, was required by accounting standards to comprehend the business’s procedure for valuing assets and find variances, an apparent attempt to place blame on them. He also testified that Mazars would have had enough information about the asset calculations from the Trump Organization to identify any problems at the time.

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Steven Collins, a contract procurement expert, also spoke briefly on Thursday on Donald’s winning bid for the General Services Administration contract for the Old Post Office building in Washington, DC, which he converted into a hotel. Collins stated that records demonstrate that GSA officials knew that Donald Trump’s financial statements showed GAAP deviations but awarded the contract to the Trump Organization.

Steve Witkoff, the former president’s longtime friend and luxury real estate developer, testified earlier this week as an expert in real estate development.

Witkoff said that the two first met in the 1980s when he bought Donald Trump a ham and Swiss cheese sandwich at a New York deli at 3 a.m. since he didn’t have any money on him.

According to Donald Trump’s lawyers, Witkoff’s testimony as a developer who assesses assets in regular business activity should add credibility to how the former president has indicated he evaluated his asset values in his personal financial statements. Witkoff stated that he evaluates properties mostly based on cash flow and what the property can be used for in the future.

He analyzes the worth of a project with an “opportunistic slant” that focuses on how much value can be added to the property.

Dr. Steven Laposa testified that he believes the attorney general’s civil fraud complaint is “flawed” because he alleges Donald Trump used inflated asset valuations on his financial statements based on the assertion that market value appraisals are “true” benchmarks without considering investment values.

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Investment values differ from market values because they are based on a set of investment criteria not necessarily representative of the market.

According to a real estate market analysis expert witness, it’s “very common” for appraisers to disagree over the value of the same home, which the former president’s team has claimed throughout the case.

However, during cross-examination on Friday, Assistant Attorney General Louis Solomon questioned the expert’s claim that the complaint was “biased” and “flawed” because the definitions of estimated current market value and market value are the same.

Furthermore, Donald’s financial statements say that the asset valuations in the financial statements are based on estimated current values.

Laposa said Friday that he had never seen that page of the former president’s financial statement before Solomon gave it to him.

SOURCE – (CNN)

Fashion

New Croc Clogs Mean Matching Togs For Your Dogs

Published

1 month ago

2024-10-13

Kiara Grace

Crocs, the foam footwear company, is known for its quirky designs, which range from cowboy boots to fried chicken-scented charms. Crocs is putting its best paw forward this month with the release of a range of clogs for dogs.

Crocs has partnered with pet supply provider and subscription service BARK to develop Pet Clogs as part of their annual “Croctober” campaign, which features a fan-inspired product.

New Croc Clogs Mean Matching Togs For Your Dogs

Companies frequently release promotional or limited-time merchandise to increase brand awareness. Special flavors of sodas or candies, collaborations with influencers or other brands, and even items that aren’t meant to be taken seriously can all help a company gain attention and stand out in a crowded marketplace among shoppers fighting inflation and looking to stretch their dollars.

“(The market) is returning, from my perspective, to what it was before the pandemic, which is that key promotional periods are extremely important,” CEO Andrew Rees told analysts during an earnings call in August. “We believe you have to participate in those promotional periods to get your fair share of consumer spending.”

Americans have spent more money on their pets during the last decade. According to the Bureau of Labor Statistics, pet expenses climbed by 77.9% between 2013 and 2021.

Pet owners spent a total of $147 billion on pet-related expenses in 2023, with that figure expected to rise to $150.6 billion this year, according to the American Pet Products Association.

However, observers believe Crocs’ entry into the pet industry is more than simply another eye-catching marketing stunt; it is a show of the power of its devoted fan base.

The Power of Fandom
Despite — or perhaps because of — regular ridicule from fashionistas, Crocs has carved out a niche for themselves in mainstream culture. Its meme status and proclivity for going viral are aided by star-studded collaborations from Justin Bieber to Bad Bunny.

And sales of the footwear brand skyrocketed in 2020, owing to the increase of casual fashion during the pandemic.

“Crocs has a very strong base of fans, and it is very good at engaging with them via social channels and marketing campaigns,” said Neil Saunders, a retail analyst at GlobalData.

New Croc Clogs Mean Matching Togs For Your Dogs

If you need proof of the power of its fans, look at how rapidly limited-edition releases sell out. In 2021, a pair of adult clogs modeled by the Disney/Pixar character Lightning McQueen from the film “Cars” sold out in less than an hour after debuting on the Crocs website.

Crocs’ continued success with its fans, which Saunders described as “cult-like,” may be due to its active interaction with its consumers, making even the most seemingly ludicrous fan requests a reality (see: Crocs inspired by the DreamWorks movie character “Shrek”).

According to Saunders, the introduction of Pet Crocs, which the business describes as “one of the most highly requested products in brand history,” is another move aimed at younger, more social media-savvy consumers.

“In many instances these will be fun purchases which people will share on social media, helping to amplify the Crocs brand,” according to him.

SOURCE | CNN

Fashion

Exploring the Best Mechanical Watches in Today’s Market

Published

2 months ago

2024-10-02

Geoff Brown

Curiously enough, despite the arrival of the smart watch with all its multitasking allure and its flashy functionality, mechanical watches have grown a lot in popularity over the past few years.

And though the Quartz revolution has made watches so much more affordable and accessible to everybody, the advance in manufacturing technology has brought to us in recent decades some outstanding mechanical timepieces that rival the affordability of higher-end Quartz ones.

If you’re looking for a mechanical watch that is worth it and is also affordable, you’ve come to the right place because today, we’re going to be listing the best mechanical watches in 2024.

Best Mechanical Watches

Seiko Recraft

The Seiko Recraft is a wacky collection, out of which we prefer the SMK P27 with its lovely green dial and the rectangular case shape with slightly curved edges. It’s a rarity in the watch world, a vintage-inspired timepiece, reminiscent of the 1970s. The watch comes with only 50 meters of water resistance, an automatic movement without hacking function and without hand winding, and just a mineral crystal hard lex protecting the dial, but it’s an impressive timepiece nonetheless, and it costs a humble $275.

Tissot Everytime Swissmatic

An elegant and affordable piece that costs around $400. It’s one of the best mechanical timepieces you can get for the money. The simplicity of its dial, the clean and minimalistic esthetic with that lovely contrast between the stark the dial and the silver hue of the case, hands and indices, really make for a stunning watch. And inside, there’s a reliable Swiss automatic movement with a hearty power reserve of 70 hours with an accuracy of plus or minus 10 seconds a day, proving to be quite a capable mechanical caliber, especially for that price.

Citizen NJ0100 Automatic

One of the big Japanese names in affordable watches is Citizen and their NJ0100 Automatic proves to be quite a sight, powered by a Myota 8210 automatic movement with a water resistance of 50 meters. The price doesn’t exceed $150, so it’s perfect, but the fact that it’s an older model and not in production anymore makes it a little harder to find. But if you look around the internet, you should find plenty.

Seiko Presage Cocktail Time Blue Moon

The Seiko Presage Cocktail Time Blue Moon is a real stunner. It may be a little more expensive at $440, but still on the affordable side, and it’s worth all those bucks. It comes in a 40.5 millimeter stainless steel case with an automatic four R-3-5 movement as it’s ticking hot, reliable, and with a 41-hour power reserve. But the most captivating part of this timepiece is that dark blue sunburst style, giving the watch an artistic and captivating look.

Tufina Sahara Mechanical

The Tufina Sahara is among the most popular mechanical watches out there, one with a dressy look and plenty of variants to choose from. Our favorite is the rose gold one, which boasts a remarkable silver dial with an intricate skeleton composition, playing with light in such a way that it creates a mesmerizing show. On the technical side, it comes powered by a mechanical movement with 17 rubies, a 3 ATM water resistance, rhodium plated case, Alpha photoluminescent hands and a superb sapphire coated lens protecting the dial. The thin bezel and classic guarded crown gives this watch a very elegant look, and the fact that you can find it for about $990 makes it that much more appealing.

Orient Kamaso

The Orient Kamaso is a worthy divers watch, bringing some impressive features for less than $300. The sapphire crystal glass, for example, is a rare feature on affordable watches. Then there’s the rugged stainless steel case that is depth rated for 200 meters, another feature that usually comes with higher price tags. When it comes to appearance, the Kamaso has a stunning black, blue, red, or green sunburst dial, complemented by the rotating vessel, finished in the same color. Under the dial, there’s an automatic Orient Calibur F692, a movement that’s said to be reliable and accurate.

Dan Henry 1970 Automatic Diver

Remaining in the diving watch world, the Dan Henry 1970 Automatic Diver, a tribute to the Compressor case dive watchers that were the thing back in the late 1960s and early 1970s. It comes with the Seco NH-3 five automatic movement, water resistance of 200 meters, and in two case sizes, 40 millimeters and 44 millimeters. What we’re most impressed with is the beautiful and refreshing dial. It’s a classic, but it’s also one that departs from the similar designs that most divers have.

Fashion

Shein Faces Scrutiny In Italy Over Possible Greenwashing

Published

2 months ago

2024-09-26

Kiara Grace

Italy’s antitrust police are looking into Shein, the online fast fashion behemoth, for potentially making false statements about its environmental efforts.

The country’s independent competition commission said in a statement that the greenwashing investigation would focus on Infinite Styles Serves Co. Limited, a Dublin-based company that manages Shein’s website and app.

Shein Faces Scrutiny In Italy Over Possible Greenwashing

Shein was started in China and is now headquartered in Singapore. It has risen to prominence in the retail industry, thanks to a business model that enables it to produce garments in real-time and deliver it straight to clients from factories mostly in China.

That has allowed the company to sell things at extremely low prices and attract customers who can go to its website and buy $11 sweaters, $2 cellphone cases, and other items from a constantly updated range of stuff.

However, Shein’s detractors have long contended that the company’s tactics foster overconsumption and environmental waste, both of which the retailer claims it is attempting to address.

However, Italian regulators accuse the corporation of misleading customers with statements about the environmental sustainability of the apparel it sells. Environmental organisations have claimed that similar deceptive methods, known as greenwashing, occur throughout the corporate sector.

Italy’s anti-trust office, known in Italian as AGCM, claims that some of the environmental references on Shein’s Italian website are misleading or omit information. Images advertising Shein’s garments as sustainable are also made “through generic, vague, confused, and/or misleading environmental assertions,” according to the authority.

The watchdog specifically mentioned information from Shien’s “evoluShein” line, claiming that it may have misled consumers into believing that the clothing they purchased could be recycled.

AGCM also claimed that Shein’s website’s declared commitment to decarbonisation was in “apparent contradiction” with the increases in greenhouse gas emissions listed in Shein’s sustainability reports for 2022 and 2023.

The online shop stated that it would assist with the Italian probe.

Shein Faces Scrutiny In Italy Over Possible Greenwashing

“We would also like to take this opportunity to reaffirm our commitment to complying with the laws and regulations in the markets where we operate and to maintaining transparency with our customers,” Shein said in a news release.

Shein has also faced issues in other parts of Europe. Critics and advocacy groups, including Amnesty International UK, have protested the company’s potential listing on the London Stock Exchange due to labour and environmental issues.

SOURCE | AP