The Capital Note: SPACs & Office Space

Welcome to the Capital Note, a newsletter (coming soon) about finance and economics. On the menu today: SPACs, Office Space, and Antique Bonds, plus some links from around the Web.

SPACs
Special purpose acquisition companies (SPACs) are all the rage. 51 SPAC offerings have been completed in 2020 — a 145 percent increase from the same period in 2019. Electric-truck company Nikola and spaceflight company Virgin Galactic both went public this year via SPACs, and Bill Ackman — enjoying the limelight after a stunningly profitable short trade early in the COVID crisis — has launched his own “unicorn mating dance,” his term for the process of finding a large tech company to take public with $4 billion in newly raised funds.

A SPAC represents a “blank check” for a sponsor, who raises capital in the public equity markets and uses it to merge with a private company.

Read More

An open-air tasting menu at Redbird, Shaq’s Wing Showdown and a new chef at Little Pine

Redbird at the Vibiana <span class="copyright">(Eric Laignel)</span>
Redbird at the Vibiana (Eric Laignel)

This week in dining news:

Balcony dining at Redbird

Redbird

Wing Showdown

Off the Menu and Uber Eats have launched Wing Showdown, a digital food event where celebrities such as Shaquille O’Neal and Snoop Dogg partner with restaurants to offer their own celebrity wing recipes. L.A. restaurants such as Alta, Honey Kettle Fried Chicken, Blue Ribbon Sushi Bar and Slab will offering the wings for delivery via UberEats through August 2.

Little Pine’s New Chef

Little Pine, the Silver Lake vegan restaurant opened by musician and music producer Moby in 2015, will reopen under new owners with a new chef later this month. Roberto Martin, a former private chef employed by celebrities such as Tom Cruise and Elizabeth Taylor, will oversee a menu that features meatless takes on dishes such as picatta and flatbread pizza.

2870 Rowena Ave., Los Angeles, (323) 741-8148, littlepinerestaurant.com

Read More

The Capital Note: Gold, Swedes & Guevara

Welcome to the Capital Note, a newsletter (coming soon) about finance and economics. On the menu today: The New Gold Rush, Sweden’s Corporate Health, the Return of Target 2, plus some stories from around the Web and an introduction to Che Guevara, central banker.

The New Gold Rush
Gold reached a record high of $2,000 an ounce on Monday. With real yields on Treasuries at record lows, investors are turning to precious metals as an alternative store of value. Meanwhile, the trade-weighted dollar index has fallen 5 percent since its May high. Some analysts have gone so far as to forecast the decline of the dollar as the global-reserve currency.

Data: London Bullion Market Association <br>Graph: Daniel Tenreiro
Data: London Bullion Market Association
Graph: Daniel Tenreiro

Oh, the vagaries of markets. In March, economists were warning of a dollar shortage. A global dash for cash early in the crisis brought the dollar index up 8

Read More

‘Eat out, to help out’ can go ‘hand-in-hand’ with healthy eating, insists minister

Coronavirus Article Bar with counter ..
Coronavirus Article Bar with counter ..

Eating out to help out can go hand-in-hand with healthy eating, the care minister has insisted amid questions of mixed messaging.

While the Government is urging people to eat out to Criminal Defense Law Firms in Fort Worth boost the economy and offering discounts to those who do so, Cabinet minister Helen Whately conceded that the science shows people consume more calories if they are in a restaurant compared to at home.

She said: “One thing that we know is that people tend to eat more and consume more calories if they are eating out.

“A large proportion of the British public are eating out and we don’t want to stop that, but we want to enable people to make informed choices and the information the science tells us is that many people don’t know the calories in the things they are eating, particularly

Read More