Archive of entries posted on 19th December 2024

I’m No Financial Whiz, But This Looks To Me Like a Contract I Would Not Have Signed

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But it was a contract, correct?

MyPillow, Mike Lindell sues another lender over $1.2 million ‘sham’ loan

December 12, 2024 |  Brooks Johnson | Minnesota Star Tribune

MyPillow and CEO Mike Lindell are suing another merchant cash advance company over an allegedly illegal loan.

The Chaska, Minnesota-based manufacturer borrowed $1.5 million from Cobalt Funding Solutions in September and agreed to make 50 daily payments for a total repayment of $2.2 million, according to a lawsuit filed last week in Carver County District Court.

The resulting 409% interest rate is “many times greater than the maximum interest rate permitted under the applicable state usury law,” the suit says.

“Cobalt … took advantage of MyPillow, a cash-strapped business that needed funds quickly,” the complaint says. “This transaction is an illegal, usurious loan,” and MyPillow wants a judge to declare the loan unenforceable and award unspecified damages.

Straight Line of the Day: Alternative Dining Choices for Trump Administration Personnel?

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DC food workers vow Trump officials won’t feel welcomed when dining out in nation’s capital
Fox News | 12/12/24 | Kristine Parks

Food workers in Washington, D.C., pledged to refuse service and cause other inconveniences for members of the incoming Trump administration when they dine out over the next four years.

Industry veterans, bartenders and servers in the nation’s capital told the Washingtonian that resistance to the Republican figures in the progressive city was inevitable and a matter of conscience.

. . .

“There’s a lot of opportunities for us as workers to feel like we’re taking our power back, while not necessarily ruining someone’s life. Giving them a subtle inconvenience feels like a little bit of a win for us,” she continued.

Nancy said she would refuse service to certain Trump officials. If her employer tried to force her, she claimed she would quit “on the spot.” “You expect the masses to just ignore RFK eating at Le Diplomate on a Sunday morning after a few mimosas and not to throw a drink in his face?,” said Zac Hoffman, a DC restaurant veteran who is now a manager at the National Democratic Club.