In this April 3, 2019 file photo, actor Lori Loughlin, front, and husband, clothing designer Mossimo Giannulli, left, depart federal court in Boston after facing charges in a nationwide college admissions bribery scandal. Loughlin was released from federal prison in Dublin, Calif., Monday, Dec. 28, 2020, after spending two months behind bars for paying half a million dollars in bribes to get her two daughters into college. (AP Photo/Steven Senne, File)
By Alanna Durkin Richer
“Full House” actor Lori Loughlin was released from prison Monday after spending two months behind bars for paying half a million dollars in bribes to get her two daughters into college.
Loughlin was released from the federal lockup in Dublin, California, where she had been serving her sentence for her role in the college admissions bribery scheme, the federal Bureau of Prisons said. Her husband, fashion designer Mossimo Giannulli, is serving his five-month sentence at a prison in Lompoc near Santa Barbara, California.
Loughlin and Giannulli were both initially supposed to report to prison on Nov. 19, but prosecutors and defense attorneys agreed Loughlin could start her sentence on Oct. 30. Loughlin also agreed that she would not seek early release on coronavirus-related grounds, prosecutors said.
Giannulli is scheduled to be released on April 17, the Bureau of Prisons says.
Loughlin and Giannulli were among the highest-profile defendants charged in the scheme, which revealed the lengths to which some wealthy parents will go to get their children into elite universities.
The famous couple admitted in May to paying $500,000 to get their two daughters into the University of Southern California as crew recruits even though neither girl was a rower. Their guilty plea was a stunning reversal for the couple, whose lawyers had insisted for a year were innocent and accused investigators of fabricating evidence against them.
The only public comments either Loughlin or Giannulli made about the case since their arrest last year came at their sentencing hearings in August. Loughlin told the judge her actions “helped exacerbate existing inequalities in society” and pledged to do everything in her power to use her experience as a “catalyst to do good."
Their younger daughter, social media influencer Olivia Jade, made her first public remarks about the scandal this month on the series “Red Table Talk." Olivia Jade said she doesn't want or deserve pity.
“We messed up. I just want a second chance to be like, ‘I recognize I messed up.’ And for so long I wasn’t able to talk about this because of the legalities behind it," she said.
Of the nearly 60 parents, coaches and others charged in the case, about a dozen are still fighting the allegations. The sentences for the parents who have pleaded so far in the case range from a couple weeks to nine months.
AT&T announced earlier today it is spinning off its media properties in WarnerMedia in a merger with Discovery in a $43 billion deal.Scott Rostan, founder and CEO at Training The Street, joined Cheddar to talk about what the unwinding of the telecom giant's Time Warner media properties means for investors. "I think the investor sentiment is they're digesting the new information, and they're looking into the dividend, especially the reduction of the dividend," said Rostan, noting the transaction allows AT&T to focus on its core telecommunications business.
A 2021 report from UK Research and Innovation found that the shipping industry makes up at least 2.5 percent of the world's total CO2 emissions. It's a problem that energy solutions company, Leclanché, is trying to solve. Founded in 1909, the company has been developing and producing batteries for more than 100 years. Today, Leclanché's lithium-ion battery is used to electrify not just ships, but also railroad locomotives, trucks, and specialty vehicles. Cheddar News spoke with Pierre Blanc, chief technology and industrial officer of Leclanché, to discuss.
Amazon is betting that ammonia could be the fuel of the future, participating in a Series A round for the Brooklyn-based company Amogy in December. Amogy aims to de-carbonize transportation with a clean energy system that uses ammonia as a renewable fuel. Amogy is partnering with Amazon on its first commercial product - an ammonia-powered cargo-shipping vessel. Amogy CEO Seonghoon Woo joins Cheddar Climate to discuss.
One of the world's largest transport companies is kicking off Black History Month with a new initiative aimed at the next generation of business leaders. Today, FedEx announced the launch of its Student Ambassador Program. Participants selected from eight historically black colleges and universities will receive career guidance from FedEx executives. The program is part of FedEx's ongoing commitment to HBCUs and will also help the company expand its pipeline for diverse talent. Cheddar News welcomes senior vice president at FedEx, Jenny Robertson, and Jerryl Briggs, President of Mississippi Valley State University, to discuss.
"Sing 2" has overthrown "Spider-Man: No Way Home" as the number one film at the UK box office. The animated sequel brought in $8.1 million, in just its two first weekends. However, "No Way Home" is still on track to beat "Avatar" as the number one grossing movie of all time.
Big Brothers Big Sisters of America has been a driving force for youth mentorship since 1904. The nonprofit organization is launching its annual Big Draft campaign this month in partnership with the NFL, and Artis Stevens, the first Black CEO of Big Brothers Big Sisters of America, joined Cheddar to discuss the push for adding more "Bigs" as mentors on his one-year anniversary leading the non-profit organization. "While the NFL is recruiting and drafting more players, they're also helping us to draft more mentors and, particularly, men all the way from across February to all the way to April of this year," Stevens explained.
The Supreme Court will reconsider race-based affirmative action in college admissions. The court will examine admissions policies at Harvard University and The University of North Carolina Chapel Hill, which count the race of applicants as a factor in admissions. The court has upheld affirmative action policies in the past, saying it helps to create more diverse student bodies. However, the conservative Supreme Court could be skeptical and even possibly hostile to such policies. Nick Anderson, Higher Education Writer, Washington Post joined Cheddar's Opening Bell to discuss.
The value of most cryptocurrencies have plummeted in recent months since reaching all-time highs in November, wiping out more than $1 trillion in value globally. The steep crash has some talking about the possibility of a crypto winter, a term referring to a prolonged bearish period where asset prices persistently fall over many months. This all comes as the Fed is expected to raise interest rates, and the Biden administration is working on an executive order to regulate Bitcoin and other assets. Josh Goodbody, COO of Qredo, joined Cheddar's Opening Bell to discuss the crypto crash, and how the industry might recover from it.
Recent data reveals that streaming giants are struggling to retain subscribers in the months following a major release.
According to data from Antenna, subscriber trends show that users will subscribe to a given streaming service just to watch a particular show, and then cancel those subscriptions shortly after. This comes as the streaming space continues to heat up as new entrants crowd the space. Jon Christian, Founding Partner + Digital Supply Chain Leader at OnPrem joined Cheddar's Opening Bell to discuss.
