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Elizabeth Holmes Fraud Conviction Might Yield Five to Seven Years in Prison
The six-month trial of Theranos founder Elizabeth Holmes has come to an end with the former tech startup star found guilty of four out of 11 counts of fraud. Michael S. Weinstein, Esq, chair of the white collar criminal defense practice at Cole Schotz, and former Department of Justice trial attorney, joined Cheddar News Wrap to discuss what happens next for the former mogul. "Do I think it's going to be more than five or seven years? Probably yes. I think that's probably a fair range at this point," he said about her potential prison sentence.
President Biden Vows to Address Meat Supply Chain Bottleneck
President Biden will sit down with farmers today, looking to ease supply chain issues in the meat industry. The administration aims to combat the impact corporate consolidation has had on rising prices for consumers and lower earnings for farmers and ranchers. President Biden plans to leverage $1 billion to eliminate this bottleneck, along with helping slow price increases and boosting farmers' earnings. Chloe Demrovsky, president and CEO of Disaster Recovery Institute International, explains the struggles that the meat industry is facing ahead of the meeting.
Elon Musk Sets Big Goals Towards Starship and Starlink
Elon Musk continues on his path to make a reusable rocket with his starship project, but it's not going to be easy. If successful, the rocket would heavily reduce launch costs, in addition to further developing Starlink, Musk’s satellite-based internet service. Rick Tumlinson, founding partner at Space Fund, spoke to Cheddar News about the future of SpaceX.
CES 2022 Begins on Wednesday
We are just one day away from what has been called the most influential tech event in the world. CES 2022 will officially kick off on Wednesday in Las Vegas, but the annual tech summit is being impacted by COVID-19, like so many other recent events. The Consumer Technology Association originally planned for a hybrid event to take place from January 5-8, with some in-person events and some virtual; however, a few big-name companies announced they will not be attending in-person, so the CTA decided to shorten the event by one day, with it now ending on Friday. Consumer electronics senior analyst Will Greenwald joins Cheddar News' Closing Bell to discuss.
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