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This LeBron James card just sold at @GoldinAuctions for .8 million, the record for a modern day card. Winner is @LeoreAvidar, who says purchase is part of strategy to “bring something big to the collectibles and alternative asset business in the coming months.” pic.twitter.com/rN9lepvVpE— Darren Rovell (@darrenrovell) July 19, 2020 343
Three freshmen on the UCLA men's basketball team accused of shoplifting in the Chinese city of Hangzhou could be months away from returning home while the legal process in their case plays out.ESPN, citing a source with firsthand knowledge, reported Wednesday that LiAngelo Ball, Cody Riley and Jalen Hill were released on bail after being questioned about stealing sunglasses from a Louis Vuitton store near the team hotel. ESPN's LA-based reporter Arash Markazi is covering the team from China.Chinese officials wouldn't confirm the ESPN report that Ball, Riley and Hill were arrested. Hua Chunying, a spokeswoman for China's Foreign Ministry, said the case had been reported to US authorities. "China is handling this case in accordance with the law, and will guarantee the rights in accordance with the law, for those involved in this case," she said.Ball's father, LaVar, who is in China, said in a statement on social media that the process "could take ... months.""Ball, Riley and Hill are being required by Hangzhou police to remain at their hotel until the legal process is over, which could take days, weeks or even months," he said. "The hope is obviously sooner rather than later."If convicted of grand larceny, the players could face a prison sentence of between three and 10 years, according to Chinese criminal law.UCLA is in China for a week-long visit and is scheduled to open its season in Shanghai on Saturday against Georgia Tech. When asked about the arrests at a news conference, UCLA Coach Steve Alford said the players in question would not play in Saturday's game.LiAngelo Ball is a younger brother of former UCLA star Lonzo Ball, now a rookie with the Los Angeles Lakers.In a statement on Weibo earlier Wednesday, LaVar Ball called the incident "unfortunate to both the Ball family and UCLA."Cooperation and consternationUCLA, one of the United States' premier college basketball programs, says the university is cooperating fully with local authorities."We are aware of the matter involving UCLA student-athletes in Hangzhou, China and we are gathering more information," UCLA Associate Director of Athletic Communications Alex Timiraos said in a statement.Larry Scott, commissioner of the Pacific 12 Conference, of which UCLA is a member, said in a statement that the student-athletes "were involved in a situation" and were cooperating with local authorities."We are very disappointed by any situation that detracts from the positive student-athlete educational and cultural experience that this week is about," the statement said. "Whether in the United States or abroad, we expect our student-athletes to uphold the highest standards."News of the incident broke as US President Donald Trump landed in China, part of a trip to five Asian nations.A spokesperson from the US State Department told CNN it is "aware of reports of three US citizens arrested in China. We stand ready to provide appropriate consular assistance for US citizens."Due to privacy considerations, the State Department declined to comment further.The UCLA team was in Hangzhou to visit the headquarters of Alibaba, the e-commerce giant which is sponsoring Friday's game.The Ball familyLiAngelo Ball, a freshman, is the middle child of LaVar and Tina Ball. Their youngest son, LaMelo Ball, is in high school.The outspoken LaVar Ball has made regular headlines with his provocative comments since eldest son Lonzo began starring at UCLA last year. A former college basketball player who has been training his sons since they were kids, LaVar Ball said he could beat Michael Jordan one-on-one and that Lonzo, while still in college, was better than two-time NBA MVP Steph Curry.Lavar also predicted all his sons will eventually play for the Lakers.He is already a third of the way there. Lonzo Ball was selected second overall by the Lakers in the 2017 NBA draft and is seen as a building block for the team's future.The family stars in its own reality show on Facebook, "Ball in the Family," and boasts an athletic apparel line, Big Baller Brand. Its first sneaker, the ZO2, raised eyebrows when it was priced at 5.LaVar, Tina and LaMelo Ball went to China to watch LiAngelo play his first game as a Bruin and promote the opening of a Big Baller Brand pop-up shop in Shanghai. 4295
This Labor Day, gas prices are set to be the lowest since 2004.According to AAA, the national average is .23, which is down 34 cents from last year.Gas Buddy reported the national average for the lowest-priced gas price on Labor Day was .82 per gallon in 2004.AAA said car trips are down 3% from last year, with air travel being down 75%."That means that motorists should expect heightened traffic throughout the Labor Day holiday, on top of new restrictions and precautions necessitated by the current health challenge," AAA said in a press release.AAA says prices at the pump will continue to drop in the coming weeks, as "demand falls and refineries in the Gulf of Mexico region come back online in the wake of Hurricane Laura." 743
There is a good chance this pandemic is having you go to the gas station less often. Fewer trips to the store, after all, means fewer fill-ups.While that may be good for your wallet, it's bad news for governments who rely on gas taxes to fund transportation construction projects. THE ISSUEFor every gallon of gas you buy, 18 cents goes to the federal government and the Highway Trust Fund. That money is then used to pay for transportation projects around the country. Additionally, each state imposes their own gas tax which can range from 14 cents to 57 cents per gallon of fuel. States use that money to fund transportation projects of their own. Simple economics suggest that when Americans drive less, there will be a loss in revenue for states. States are also losing money with sales taxes, tolls and DMV registrations, which is making a problem even worse. WHAT'S BEING CANCELED"The state is collecting less of that money," Alison Black, Chief Economist with the American Road & Transportation Builders Association, said. Black's organization has been tracking which states are cutting projects.Currently, 14 states have announced project delays or cancellations, valued at nearly .5 billion. These include Florida, Georgia, Hawaii, Kentucky, Mississippi, Missouri, Nevada, New Mexico, North Carolina, Ohio, Pennsylvania, Vermont, Washington, and West Virginia. There are 19 local governments and authorities that have announced project delays or cancellations, totally more than .54 billion. Ten states or local areas have vetoed, canceled, or postponed legislative initiatives or ballot measures related to transportation funding because of the pandemic. This includes several major initiatives in California's self-help counties. RELIEF COMING?Many states are lobbying for Congress for a bailout, but that is far from certain. While President Donald Trump, this week, did cut environmental regulations to speed up infrastructure projects, his announcement doesn't address the funding gap. 2017
There will be two new headquarters for Amazon, with 25,000 people in each location.Amazon has not announced which two cities the headquarters will be in, but that information is expected later this week, according to?the Wall Street Journal.The HQ2 split will happen because of a lack of technology talent.It has been more than a year since the company sought proposals from cities desiring to be home to the headquarters. Amazon's current headquarters is in Seattle and has led to problematic traffic and increased housing costs. Those concerns spurred the need to move and to split into two locations, the WSJ reports. 639