The top names in entertainment, including such names as John Legend, Amy Adams, and LL Cool J, are hosting Zoom fundraisers through Richard Weitz's "Quarantunes" series to raise money for coronavirus frontline initiatives.
Hollywood agent Richard Weitz, a partner at WME, told Cheddar on Friday that the idea for the charitable musical series came from wanting to make his daughter’s birthday special amid the pandemic.
“I was throwing a surprise birthday for my daughter Demi who was turning 17, and I hired a piano player from Chicago named Dario Giraldo who played Redhead Piano Bar," Weitz said. "I wanted to organize some fun on Zoom for Demi and her friends.”
His daughter was actually the one who encouraged him to turn the concept into a fundraiser to help support those on the frontlines and others in need.
“From there we knew we had a platform and my dad kept doing it and it got a little more traction and he invited more friends," Demi Wietz told Cheddar. " I was like dad we need to raise money for the people in need right now, for charities, for organizations, for hospitals like we have this platform and we should do something with it, so we turned it into a charity benefit concert,”
The concert series, which streams over the videoconferencing platform, selects a different organization to support each week and has already raised almost $1 million to help aid workers on the frontlines
Last week, the Weitzes teamed up with Jake Wood, CEO and co-founder of Team Rubicon, a nonprofit that helps reintegrate veterans back into civilian life and already raised more than $500,000.
Woods said that the investment bank Goldman Sachs had been eager to support Team Rubicon’s efforts and during the Quarantunes event it donated almost $150,000 to the fundraiser.
“A couple weeks ago, a partner in the private wealth division at Goldman Sachs reached out to me and said, “Hey we’ve learned about this private concert series that’s going on and being hosted by this father-daughter duo in Los Angeles and we’d love to bring some of our clients into it and have the proceeds benefit Team Rubicon,’” he explained.
Team Rubicon has deployed more than 4,000 volunteers to the frontlines of the pandemic, staffing underfunded hospitals and running mobile testing clinics in major cities across the country.
Daniel Madrzykowski, research director at the UL Fire Safety Research Institute, joins Cheddar News to discuss the deadly Bronx fire that killed 19 people and fire safety tips that people need to know about.
Markets closed the day mixed, and well off their lows of the day following a market meltdown earlier in the session. The Nasdaq staged a comeback late in the day, even amid ongoing worries about the Federal Reserve raising interest rates. Doug Flynn, certified financial planner and co-founder of Flynn Zito Capito, joined Cheddar News' Closing Bell to discuss the markets' close and what's driving the major indexes.
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Today marks one year since the January 6 Attack on the United States Capitol. The Country watched as supporters of then-President Trump stormed what was assumed to be the most secure building in the country in an attempt to stop the certification of the 2020 Election. Several lawmakers, including the Vice President, could be seen ducking down as they feared for their lives. Democratic Michigan Representative Dan Kildee, joined Cheddar to discuss more.
Bed Bath & Beyond delivered disappointing fiscal third-quarter results for 2022. Shares initially dove more than 9% in premarket trading on the news but finished the day up nearly 8%. Bed Bath & Beyond has been a meme-stock target for online investors in the past -- so was meme-stock mania a factor in the recent stock movement for the company? Jaime Rogozinski, the founder of the subreddit WallStreetBets, joins Cheddar News' Closing Bell for more, as his forum helped spark the meme stock phenomena. He also discussed some decentralized finance services and trends for the retail investor to watch for in 2022.
Digital medical care provider Pear Therapeutics rang the closing bell on the Nasdaq Friday and President and CEO Dr. Corey McCann, joined Cheddar to talk about how the company plans to grow the business of software-based therapeutics and how the first FDA authorized prescription digital therapeutics company will go about treating illnesses like insomnia and addiction. "These really are pieces of software. In many cases, they're apps and in the cases of our addiction products, these are based on something called cognitive behavioral therapy or CBT," he said. "These products change the patient's brain circuitry to help them be abstinent, to help them stay in treatment, and that's exactly what we see in randomized clinical trials and that's what we see in the real world." He also addressed the ongoing mental health crises brought on by the pandemic. **copy updated to remove IPO information as Pear Therapeutics went public in December**
