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Three more parents pleaded guilty in federal court on Wednesday, the latest to fall in what authorities called the largest collegiate admissions scam ever prosecuted.Gregory Abbott, founder and chairman of a food and beverage packaging company, his wife, Marcia Abbott, and Peter Jan Sartorio, the founder of a frozen burrito company, all went before a federal judge to formally enter their pleas to conspiracy to commit mail fraud and honest services mail fraud.Prosecutors said evidence included recorded phone calls and emails that show all three communicating directly with the mastermind of the scheme, William Rick Singer, to get their children guaranteed path into the prestigious college of their choice.As part of their plea agreements, prosecutors are recommending the Abbotts serve 12 months and a day in prison, while Sartorio would serve between zero and six months.Prosecutors said the Abbotts paid Singer a total of 5,000 in purported donations to his foundation to inflate their daughter's scores on both the ACT and SAT exams. Mark Riddell, who has also plead guilty for his role in the scam, corrected her test scores for the ACT in March and then for the SAT subject tests in October."Do you know how she did on her own," Gregory Abbott was heard on a recorded phone call asking, according to prosecutors. "Yeah, I do. She scored in the mid-600s," replied Singer.The Abbott's daughter scored 800 on the math portion and 710 on the literature, both scores out of a possible 800, prosecutors said.In court in Boston on Wednesday, the Abbotts they understood the scores would be corrected but did not know the details of how it would happen. "I didn't know the system. I didn't know how things were implemented," Marcia Abbott said.Meanwhile, Sartorio, a packaged food entrepreneur, paid Singer ,000 in cash to have Riddell correct his daughter's ACT exam in June 2017, prosecutors said.After the exam, Singer, who was now working with the federal government, answered a call from Sartorio and told him the Key Worldwide Foundation (KWF), the charity that fronted as a means to collect payment for the scheme, was being audited.Singer told Sartorio that he wouldn't show up in the alleged audit because he paid cash but wanted to "touch base" in case the IRS reached out to Sartorio."All I know is I paid bills that were sent to me, invoiced," Sartorio said, according to a criminal complaint.Sartorio's attorney, Peter Levitt, told the judge, "Like the Abbotts, Mr. Sartorio didn't know the details or the information about payments Mr. Singer made to other people."Attorneys for the Abbotts and Sartorio declined to comment after court.On Tuesday, two other parents appeared in court to plead guilty.Gordon Caplan, a former partner and co-chairman of international law firm Willkie Farr & Gallagher LLP, pleaded guilty to paying ,000 as part of a scheme to cheat on his daughter's ACT.Agustin Huneeus Jr., a California vineyard owner, 2978
The owner of Schick razors needs to close the gap with Gillette, its biggest rival. So it's turning to new blood to make that happen.Edgewell Personal Care is buying the upstart razor maker Harry's, the two companies announced Thursday. The deal values Harry's at nearly .4 billion.Harry's started in 2013 and quickly expanded by selling low-priced razors online. Edgewell, meanwhile, owns some of the most established brands in the field — including Schick, which started in 1921. Edgewell also owns Wilkinson Sword, a major European brand that has been making razors since 1898.But Edgewell trails its main rival, Gillette, by a large margin. Gillette is a unit of Procter & Gamble, and accounted for about 10% of that company's .8 billion in revenue — about billion — last year. By comparison, Edgewell reported .2 billion in revenue during its most recent fiscal year.Sales for the first six months of this year fell 7% compared to a year earlier, Edgewell reported Thursday. But CEO Rod Little told investors that the company expects revenue to rise to .7 billion in its first full fiscal year after it acquires Harry's. The deal is expected to close early next year.Little said Edgewell was drawn to Harry's success with building a brand and marketing directly to consumers."We've been talking about it for a while," he said on an earnings call. "And when you look at what Harry's has done, we've looked at that from afar for a long time," he told investors."The deal also could help Harry's cut costs. Despite its success, Little said the business is only approaching the breakeven point this year.Investors didn't immediately embrace the purchase. Shares of Edgewell fell nearly 13% in midday trading Thursday.Harry's founders Andy Katz-Mayfield and Jeff Raider will stay on to run the combined companies' US business. Raider was also one of the founders of the eyeglass maker Warby Parker. The two of them had been friends since college.Harry's is not the first razor startup to be acquired by a more established company.In 2016, Unilever bought 2083
The third and final supermoon of 2019 is set to be seen on Wednesday, just ahead of the official start of spring in the U.S.The next supermoon won't rise again until Feb. 9, 2020, 192
There has been a small increase in vaccine exemption rates among kindergarteners in the United States, according to a new report from the US Centers for Disease Control and Prevention.The finding, published in the CDC's 232
'Tis the season for scammers and the calls coming to your phone are up nearly 130 percent since the same time last year, according to a study from 159