Latest news with #Solomon
Yahoo
2 days ago
- General
- Yahoo
Gang member who 'trafficked in fear, intimidation, and death' sentenced to life in prison
Gang member who 'trafficked in fear, intimidation, and death' sentenced to life in prison originally appeared on Bring Me The News. A Richfield man serving a 36 years in prison for murder has been sentenced to life behind bars for his role in the Bloods gang in the Twin Cities. The FBI said Desean Solomon "chose violence as a way of life — trafficking in fear, intimidation, and death to exert power, feed criminal ambition and expand the Blood's grip on the streets." He was targeted as part of an effort launched by the U.S. Attorney's Office in Minnesota to target gang members in the Twin Cities for RICO (racketeer influenced corrupt organization) offenses following a wave of crime between 2020 and 2022, and was the first to be sentenced in the crackdown. Solomon was already serving a sentence for killing a man at a north Minneapolis nightclub in June 2020, but the Star Tribune reports he was eligible for supervised release in 2047. Now he will spend the rest of his life behind bars after being handed a life sentence plus 20 years. A trial heard that the 34-year-old Solomon, aka "Black," has been a member of the Minneapolis Bloods street gang since at least 2020, and "has been a career criminal throughout his adulthood." His crimes include "two premeditated murders within a two-year span." The 2020 killing saw him and other Bloods members attack a rival gang member in the men's bathroom, with gunfire then breaking out outside the club. Solomon and another Bloods member fired several times, killing the victim. In April 2022, Solomon and other Bloods went to an Uptown bar and "started a large fight" with a rival gang, killing one of its members. While sentencing Solomon, Judge Susan R. Nelson said she was "searching for a kernel of hope that you could be trusted to not be a danger to society," but found he had "utter and complete disregard for human life" and a lack of remorse. "I am left with the certainty that you will always be a threat to public safety," she said. This story was originally reported by Bring Me The News on May 29, 2025, where it first appeared.
Yahoo
3 days ago
- Business
- Yahoo
House passes bill to eliminate investment cap requested by FM
The Rhode Island House voted 71-0 Tuesday, May 27, 2025, to approve a bill repealing caps on alternative investments for local insurance companies. (Screenshot/Capitol TV) A state policy change aimed at helping Johnston insurance company FM expand its investments, and potentially, its employment in Rhode Island, sailed through the Rhode Island House of Representatives Tuesday. The 71-0 vote came without discussion, following a strong backing by Rep. Joseph Solomon, chairman of the House Committee on Commerce, which held a May 15 hearing on the bill. 'It's a great bill,' said Solomon, a Warwick Democrat, noting that no written or verbal opposition on the proposal emerged during the hearing before the House panel. The bill sponsored by Rep. Alex Finkelman, a Jamestown Democrat, was introduced on May 8 after FM executives met with House Speaker K. Joseph Shekarchi. The Fortune 500 company was formerly known as FM Global, but rebranded in July 2024. The proposed policy change seeks to let insurance companies invest as much as they want in nontraditional or alternative assets — referred to under federal reporting requirements as Schedule BA assets — like hedge funds, private equity funds and real estate holdings. It effectively reverses the 1984 law on the books, which limited investments on long-term assets outside of traditional stocks and bonds to no more than 10% of a company's total assets. Eleventh hour insurance bill could help top employer FM expand in R.I. The origins of the 1984 law remain somewhat hazy, but proponents for its repeal insist the rule no longer makes sense, with alternative investments like hedge funds now widely used and commonly accepted. 'When this law was enacted in 1984, the limitation was practical, as regulatory techniques for overseeing insurance investments were more limited at that time,' Solomon said Tuesday. 'The law is now outdated.' Since 2010, insurance companies have been steadily increasing investments in alternative assets, searching for higher returns in a low-interest rate environment. The appeal of alternate asset classes increased further after 2017 regulatory changes adopted by the National Association of Insurance Commissioners (NAIC), which reformed how companies could record exchange-traded funds on their balance sheets. Certain bonds are also now considered Schedule BA assets under a new NAIC effective Jan. 1. Removing the state's limit on BA investments now is particularly timely,' Jonathan Schreiber, associate vice president of state government relations for the American Property Casualty Insurance Association, wrote in a May 15 letter to lawmakers. The change would also put Rhode Island in line with neighboring Massachusetts and Connecticut — a key selling point for Gov. Dan McKee, who has already signaled support for the policy change. Especially as the state wrestles with how to retain major employers like Hasbro, Inc., which previously indicated it was looking to abandon its Pawtucket headquarters in favor of a new location in Boston. The potential relocation was put on hold after Trump tariffs roiled markets and put company profits at risk; an update is now expected sometime this summer. FM executives made it clear they have no intention of picking up and moving from their 8-acre Johnston headquarters, which houses the bulk of the property insurer's 1,500-person local workforce. Instead, the company is contemplating more hiring as it looks to expand its offerings of research, development and industrial and commercial insurance products for renewable energy, Finkelman said previously. FM did not offer specifics on expansion plans when asked by Rhode Island Current. Lifting the investment cap could also benefit the other 29 local insurance companies that operate in Rhode Island, according to Elizabeth Dwyer, director for the Department of Business Regulation. Dwyer wrote a letter supporting the policy change, noting that state business regulators will continue to carefully monitor companies. 'This vigilance gives me confidence that a blunt tool for investments is no longer necessary,' Dwyer wrote in the May 14 letter to lawmakers. Lincoln-based Amica Mutual Insurance Co. and Providence's Delta Dental of Rhode Island also submitted written support for the policy change, along with the Rhode Island Business Coalition and the National Association of Mutual Insurance Companies. A companion bill in the Senate, sponsored by Johnston Democrat Andrew Dimitri, remains under review by the Senate Committee on Finance following an initial May 20 hearing. A committee vote has not been scheduled as of Tuesday, according to Greg Pare, a Senate spokesperson. If passed by both chambers and signed into law by McKee, the investment cap would be repealed immediately. Reps. Arthur Handy, Brian Kennedy, Earl Read III and Brandon Voas were not present for the House vote Tuesday. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
The Print
3 days ago
- Business
- The Print
COMPUTEX 2025 Concludes Successfully
New Delhi [India], May 28: COMPUTEX 2025 concluded today after four days of dynamic exhibitions and events. The show welcomed an impressive turnout, with 86,521 buyers from 152 countries, including Japan, the United States, South Korea, Vietnam, and India. As the global benchmark exhibition for AI and startups, this year's theme, 'AI Next,' brought together leading global tech companies and startup teams. The event attracted top-tier international buyers, generating vast business opportunities across the AI supply chain and reinforcing Taiwan's pivotal role as a hub for global technology exchange. As global AI applications diversify rapidly, Gartner's Top 10 Strategic Technology Trends for 2025 identified Autonomous AI, Humanoid Robots, and Advanced Computing as key drivers transforming industries. COMPUTEX 2025 focused on three topics–AI & Robotics, Next-Gen Tech, and Future Mobility–spotlighting both cutting-edge development and real-world deployment. Pegatron highlighted its capabilities in human-machine integration with interactive biomimetic robot dogs and immersive VR devices. BenQ attracted strong interest with its multi-zone exhibit, especially the AI golf simulator combining visual tracking, motion sensing, and smart analytics for real-time swing feedback. Advantech and Solomon showcased key innovations, including autonomous mobile robots (AMRs), collaborative robotic arms, and AIoT platforms–demonstrating Taiwan's strength in intelligent manufacturing technologies. TADA also curated a Smart Mobility Pavilion, joined by 19 brands including Pegatron, Vitalcore Technology, System Electronics, OToBrite, collectively promoting innovation in intelligent and electric vehicle technologies. Global Startups Celebrate the 10th Anniversary of InnoVEX Celebrating its 10th edition, InnoVEX saw its scale grow 12.5% over last year, with 450 startups from 24 countries. Thailand and the Philippines debuted national pavilions, sending a combined delegation of 22 startups–underscoring the rise of Asian innovation and the global connectivity of the COMPUTEX platform. InnoVEX Forum welcomed renowned speakers from AWS, Google Cloud, NVIDIA, Qualcomm, Solomon, and Advantech, sharing insights on how AI is powering innovation and digital transformation. This year's Pitch Contest goes to from Taiwan, recognized for its innovative application of AI in medical imaging to enable early disease detection and prediction. The team's strong commitment to advancing public health through practical AI solutions was highly praised by the judges. Tech Leaders Dominate the Stage as Keynotes Draw Record Buzz COMPUTEX Keynote opened with Jensen Huang, Founder and CEO of NVIDIA, followed by Cristiano Amon (CEO, Qualcomm), Young Liu (Chairman, Foxconn), Dr. Rick Tsai (Vice Chairman & amp; CEO, MediaTek), and Jens Hinrichsen (Executive VP, NXP), offering rich perspectives across the evolving AI ecosystem. Notably, Taiwan featured prominently in nearly every keynote, reinforcing its critical role in the global technology and supply chain landscape. COMPUTEX Forum, themed 'AI in Action', welcomed 13 tech industry leaders from NVIDIA, Google DeepMind, Texas Instruments, Advantech, Arm, Intel, Adobe, Cadence, bp Castrol, Infineon, Seagate, Schneider Electric, and Compal. Over 1,300 attendees joined the forum to explore the latest in AI implementation and market trends. Cross-Industry Collaborations Spark New Trends in Sustainability and Lifestyle In COMPUTEX 2025 Sustainable Design Award, Pegatron earned the Gold Award, ASUS the Silver, and Lite-On the Bronze–underscoring the tech industry's growing commitment to sustainability. The exhibition also featured creative cross-industry collaborations. Following last year's success, plain-me and iconic local snack brand Kuai Kuai teamed up again to launch a series of limited-edition co-branded merchandise. Meanwhile, Taiwan Stock Exchange Corporation and GQ Taiwan co-hosted a refined Hospitality Lounge, merging capital markets with lifestyle aesthetics and showcasing COMPUTEX's vibrant commercial influence. COMPUTEX will take place from June 2 to 5 in 2026, driven by strong exhibitor demand following this year's successful results, the show will expand beyond Nangang Exhibition Halls 1 and 2 to include TWTC Hall 1, creating a dedicated AI-powered tech lifestyle ecosystem unique to COMPUTEX. COMPUTEX was founded in 1981. It has grown with the global ICT industry and become stronger over the last four decades. Bearing witness to historical moments in the development of and changes in the industry, COMPUTEX attracts more than 40,000 buyers to visit Taiwan every year. It is also the preferred platform chosen by top international companies for launching epoch-making products. Taiwan has a comprehensive global ICT industry chain. Gaining a foothold in Taiwan, COMPUTEX is jointly held by the Taiwan External Trade Development Council and Taipei Computer Association, aiming to build a global tech ecosystem. COMPUTEX has become a global benchmark exhibition for AI and startups, connecting global pioneers and enabling new sparks of breakthrough technology. Founded in 1970, TAITRA is Taiwan's foremost nonprofit trade-promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises in expanding their global reach. Headquartered in Taipei, TAITRA has a team of 1,300 specialists and operates 5 local offices as well as 62 branches worldwide. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade. TAITRA's five local branch offices in Taoyuan, Hsinchu, Taichung, Tainan, and Kaohsiung provide services to companies outside metropolitan Taipei. Through these domestic offices, TAITRA is able to maintain close contact and interaction with local companies in their respective areas and provide direct and substantial services in areas such as feature trade promotion, business information, market seminars, on-the-job training, procurement meetings, meeting room rental, etc. Branch offices play vital roles in Taiwan Trade Shows coordination between Taipei headquarters and local companies, and invite buyers to visit local industries. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same) This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
Fashion Value Chain
3 days ago
- Business
- Fashion Value Chain
COMPUTEX 2025 Concludes Successfully
COMPUTEX2025 concluded today after four days of dynamic exhibitions and events. The show welcomed an impressive turnout, with 86,521 buyers from 152 countries, including Japan, the United States, South Korea, Vietnam, and India. As the global benchmark exhibition for AI and startups, this year's theme, 'AI Next,' brought together leading global tech companies and startup teams. The event attracted top-tier international buyers, generating vast business opportunities across the AI supply chain and reinforcing Taiwan's pivotal role as a hub for global technology exchange. COMPUTEX 2025 Wraps Up Successfully As global AI applications diversify rapidly, Gartner's Top 10 Strategic Technology Trends for 2025 identified Autonomous AI, Humanoid Robots, and Advanced Computing as key drivers transforming industries. COMPUTEX 2025 focused on three topics-AI & Robotics, Next-Gen Tech, and Future Mobility-spotlighting both cutting-edge development and real-world deployment. Pegatron highlighted its capabilities in human-machine integration with interactive biomimetic robot dogs and immersive VR devices. BenQ attracted strong interest with its multi-zone exhibit, especially the AI golf simulator combining visual tracking, motion sensing, and smart analytics for real-time swing feedback. Advantech and Solomon showcased key innovations, including autonomous mobile robots (AMRs), collaborative robotic arms, and AIoT platforms-demonstrating Taiwan's strength in intelligent manufacturing technologies. TADA also curated a Smart Mobility Pavilion, joined by 19 brands including Pegatron, Vitalcore Technology, System Electronics, OToBrite, collectively promoting innovation in intelligent and electric vehicle technologies. Global Startups Celebrate the 10th Anniversary of InnoVEX Celebrating its 10th edition, InnoVEX saw its scale grow 12.5% over last year, with 450 startups from 24 countries. Thailand and the Philippines debuted national pavilions, sending a combined delegation of 22 startups-underscoring the rise of Asian innovation and the global connectivity of the COMPUTEX platform. InnoVEX Forum welcomed renowned speakers from AWS, Google Cloud, NVIDIA, Qualcomm, Solomon, and Advantech, sharing insights on how AI is powering innovation and digital transformation. This year's Pitch Contest goes to from Taiwan, recognized for its innovative application of AI in medical imaging to enable early disease detection and prediction. The team's strong commitment to advancing public health through practical AI solutions was highly praised by the judges. Tech Leaders Dominate the Stage as Keynotes Draw Record Buzz COMPUTEX Keynote opened with Jensen Huang, Founder and CEO of NVIDIA, followed by Cristiano Amon (CEO, Qualcomm), Young Liu (Chairman, Foxconn), Dr. Rick Tsai (Vice Chairman & amp; CEO, MediaTek), and Jens Hinrichsen (Executive VP, NXP), offering rich perspectives across the evolving AI ecosystem. Notably, Taiwan featured prominently in nearly every keynote, reinforcing its critical role in the global technology and supply chain landscape. COMPUTEX Forum, themed 'AI in Action', welcomed 13 tech industry leaders from NVIDIA, Google DeepMind, Texas Instruments, Advantech, Arm, Intel, Adobe, Cadence, bp Castrol, Infineon, Seagate, Schneider Electric, and Compal. Over 1,300 attendees joined the forum to explore the latest in AI implementation and market trends. Cross-Industry Collaborations Spark New Trends in Sustainability and Lifestyle In COMPUTEX 2025 Sustainable Design Award, Pegatron earned the Gold Award, ASUS the Silver, and Lite-On the Bronze-underscoring the tech industry's growing commitment to sustainability. The exhibition also featured creative cross-industry collaborations. Following last year's success, plain-me and iconic local snack brand Kuai Kuai teamed up again to launch a series of limited-edition co-branded merchandise. Meanwhile, Taiwan Stock Exchange Corporation and GQ Taiwan co-hosted a refined Hospitality Lounge, merging capital markets with lifestyle aesthetics and showcasing COMPUTEX's vibrant commercial influence. COMPUTEX will take place from June 2 to 5 in 2026, driven by strong exhibitor demand following this year's successful results, the show will expand beyond Nangang Exhibition Halls 1 and 2 to include TWTC Hall 1, creating a dedicated AI-powered tech lifestyle ecosystem unique to COMPUTEX. About COMPUTEX COMPUTEX was founded in 1981. It has grown with the global ICT industry and become stronger over the last four decades. Bearing witness to historical moments in the development of and changes in the industry, COMPUTEX attracts more than 40,000 buyers to visit Taiwan every year. It is also the preferred platform chosen by top international companies for launching epoch-making products. Taiwan has a comprehensive global ICT industry chain. Gaining a foothold in Taiwan, COMPUTEX is jointly held by the Taiwan External Trade Development Council and Taipei Computer Association, aiming to build a global tech ecosystem. COMPUTEX has become a global benchmark exhibition for AI and startups, connecting global pioneers and enabling new sparks of breakthrough technology. About TAITRA Founded in 1970, TAITRA is Taiwans foremost nonprofit trade-promoting organization. Sponsored by the government and industry organizations, TAITRA assists enterprises in expanding their global reach. Headquartered in Taipei, TAITRA has a team of 1,300 specialists and operates 5 local offices as well as 62 branches worldwide. Together with Taipei World Trade Center (TWTC) and Taiwan Trade Center (TTC), TAITRA has formed a global network dedicated to promoting world trade. TAITRA's five local branch offices in Taoyuan, Hsinchu, Taichung, Tainan, and Kaohsiung provide services to companies outside metropolitan Taipei. Through these domestic offices, TAITRA is able to maintain close contact and interaction with local companies in their respective areas and provide direct and substantial services in areas such as feature trade promotion, business information, market seminars, on-the-job training, procurement meetings, meeting room rental, etc. Branch offices play vital roles in Taiwan Trade Shows coordination between Taipei headquarters and local companies, and invite buyers to visit local industries.
New York Post
4 days ago
- Business
- New York Post
Goldman Sachs CEO David Solomon 'yelled at partners who left, crushed dissent'
Goldman Sachs CEO David Solomon cracked down on dissent by launching a probe into leaks and purging stalwarts who were trying to undermine his leadership, according to a blockbuster report. Solomon, who took over the Wall Street giant from Lloyd Blankfein in 2018, tightened his grip following a wave of internal backlash during a rocky stretch in 2022 and 2023 as Goldman's profits faltered. He was blamed for the firm's costly expansion into consumer lending and was ridiculed for his attention-grabbing side gig as DJ-Sol — who was booked for highly-publicized events in the Hamptons and at Lollapalooza. Solomon fought back against the bad publicity by launching an investigation to track down those suspected of leaking information to the media and dressing down executives behind closed doors, according to the Wall Street Journal. 5 Goldman Sachs CEO David Solomon ruthlessly crushed dissent at the firm by pushing out critics and investigating leaks to the press, according to a report. Bloomberg via Getty Images Solomon personally told Goldman's board he was going to 'take action' against nettlesome employees, sources told the Journal. He pushed out longtime executives who had questioned his leadership — including Jim Esposito, co-head of global banking and markets, and top trader Ed Emerson. Emerson's departure came after he reportedly told colleagues at a dinner that Solomon should be fired and replaced by President John Waldron. Solomon found out, and Emerson was gone, according to the Journal. Even exit conversations became battlegrounds. Sources told the Journal that Solomon yelled at partners who came to inform him they were leaving. Solomon's iron-fisted approach marked a dramatic shift from Goldman's traditional partnership culture, in which senior leaders historically operated with a degree of autonomy and influence. But Solomon began restructuring the firm almost immediately after taking the reins, dismantling divisions, reversing course on strategy and centralizing decision-making authority. The upheaval accelerated after the firm's ill-fated expansion into consumer finance. During his initial four-year tenure, he led multiple restructurings — including splitting wealth management from asset management in 2020, only to recombine the two just two years later in 2022. 5 Ed Emerson, a top trader at Goldman, was reportedly fired after he said Solomon should be replaced as CEO. Goldman Sachs The constant organizational shifts fueled an exodus of partners. In the asset management unit alone, nine of the 11 partners appointed as leaders in early 2022 have since left. 'When you restructure an entire division, leadership changes are sometimes inevitable,' Goldman spokesperson Tony Fratto told The Post on Tuesday. Fratto added that 'the story at the firm is people coming back' and that 'a quarter of our managing director and partner hires last year were people returning to Goldman Sachs.' Solomon championed the $2 billion acquisition of lender GreenSky in 2021 — a deal that many of his deputies opposed, the Journal reported. Two years later, Goldman sold the business at a loss. As the consumer division hemorrhaged money, investment banking revenue slowed, and partners saw their compensation shrink. Tensions inside the firm exploded. 5 Jim Esposito, once seen as a future CEO candidate, left the firm in 2023 after clashing with Solomon, according to a report. REUTERS 'The firm set out a detailed strategic plan in 2020 to grow our franchise and meaningfully improve returns,' Fratto told The Post. 'The vast majority of those goals have been met or exceeded.' Internal critics charged that Solomon's vision had become a costly distraction. But rather than change course, Solomon doubled down. When Esposito presented Solomon with a written critique of the consumer-lending strategy and recommendations for a shift in focus, Solomon dismissed it outright, according to the report. The relationship between the two men deteriorated quickly. In late 2023, Esposito, once seen as a future CEO candidate, left the firm. That same year, Goldman's board launched its own review into the consumer debacle and examined who was responsible for the losses. 5 Solomon's moonlighting as a DJ was reportedly a source of tension within the company. David Solomon/Instagram At the same time, the firm's consumer-lending operations were facing scrutiny from federal regulators. But even as external pressure mounted, Solomon was quietly consolidating control. According to the Journal, he met privately with hundreds of Goldman partners around the world, telling them to ignore media noise and focus on the firm's future under his leadership. By 2024, Goldman had begun exiting the consumer space and refocusing on its core strengths: investment banking, trading and wealth management. The firm's stock price soared 48%, and profits rebounded. Solomon also gave up his DJ gigs. In the last five years, Goldman stock has climbed more than 209% — more than doubling the gains made by the S&P 500 and besting rivals such as JPMorgan Chase (170%), Bank of America (80%) and Citigroup (54%). 'Basic facts should be hard to ignore. Goldman Sachs is the best performing US bank stock over the past five years, and we've grown our revenues by nearly 50%,' Fratto said. 'Our investors know the strategy we laid out in 2020 is working,' Fratto told The Post. 5 Goldman has seen its profits rebound after a rocky period in the first few years of Solomon's leadership. Bloomberg via Getty Images There was one other major twist: Waldron, Solomon's longtime deputy, was approached by Apollo Global Management for a top role. When Waldron informed his boss that he planned to leave, the CEO reportedly pleaded with him to stay. Solomon went to the board, arguing that Goldman couldn't afford to lose Waldron. The result was both men being handed $80 million retention bonuses to stay five more years, and Waldron was given a board seat, the Journal reported. Goldman came under fire from two major proxy advisory firms for awarding the $80 million retention bonuses, with Institutional Shareholder Services slamming the payouts as 'poor practice' that 'lack rigorous, pre-set performance criteria.' Glass Lewis also criticized Goldman's 'continued inability to align pay with performance' and urged shareholders to vote against the awards at the upcoming April meeting. Solomon also received a pay bump, bringing his compensation to $39 million. A source familiar with the situation told The Post that Solomon is 'operating now from a position of strength.' 'He's refocused the firm.'
