Month: August 2016

The Jennifer Lawrence Diary™ August 4, 2016August 4, 2016

Lawrence’s ‘Red Sparrow’ may cast Australian actor Edgerton

Boulevard reviews the latest media coverage of the Oscar-winning Louisville native in our exclusive Jennifer Lawrence Diary™. Today’s news, rated on a scale of 1-5 stars:

One of Jennifer Lawrence‘s next projects — espionage thriller “Red Sparrow” — is inching forward with reports Australian actor Joel Edgerton is in talks to co-star. The film, scheduled for release November 2017, according to Variety, is based on 33-year CIA veteran Jason Matthews‘ 2013 novel of the same name.

Deadline, which reported Egerton’s negotiations today, describes the plot:

Red Sparrow “The book is set in contemporary Russia, and state intelligence officer Dominika Egorova (Lawrence) struggles to survive in the cast-iron bureaucracy of post-Soviet intelligence. Drafted against her will to become a “sparrow,” a trained seductress in the service, Dominika is assigned to operate against Nathaniel Nash (possibly Edgerton), a first-tour CIA officer who handles the agency’s most sensitive penetration of Russian intelligence. The two young intelligence officers collide in a charged atmosphere of trade craft, deception, and inevitably, a sexual attraction that threatens their careers and the security of America’s valuable mole in Moscow.”

The Red Sparrow script has a tenuous connection to one of Lawrence’s previous movies: It’s a rewritten version of one originally by the author of 2013’s “American Hustle.”

Lawrence, now juggling multiple projects, turns 26 on Aug. 15.

Edgerton, 42, played Tom Buchanan in “The Great Gatsby,” the 2013 remake based on the F. Scott Fitzgerald novel set partly in Louisville. Here’s a clip featuring Edgerton and co-stars Leonardo DiCaprio and Carey Mulligan:

Latest Headlines August 4, 2016August 5, 2016

Kindred said beating Q2 forecasts; in China, ‘bloom off the rose’ for Yum; and Papa John’s renews NFL deal, re-commits to Manning for TV commercials

A news summary focused on 10 big employers; updated 5:16 p.m.

KINDRED said second-quarter results came in at the high end of Wall Street’s expectations. Revenues were $1.8 billion and earnings were 23 cents per share (press release). Yahoo Finance has the forecast. The report was issued after stock markets closed; in extended trading, Kindred’s shares were unchanged at $11.17. The Louisville-based hospital and nursing giant also declared a regular quarterly dividend of 12 cents a share (press release). Kindred employs 2,200 workers in Louisville and 102,000 nationwide. More about the company.

YUM‘s dominance of China’s fast-food market is starting to slip as consumers shift to healthier options and Chinese-style food chains, from huoguo (hot pot) to tangbao (steamed dumplings). That might explain some of the middling interest in Yum’s China Division spinoff. “There would definitely have been more buyer interest five years ago, but at that time they were doing so well that they couldn’t bear to sell,” said management professor Li Weihua of China University of Political Science and Law. “With the bloom off the rose, if they don’t sell now, it would be worth even less five years later” (Bloomberg).

PAPA JOHN’S has renewed its multiyear sponsorship contract with the NFL, a deal in place since 2010. As the official pizza sponsor of the league, the chain said today it will continue using NFL logos and trademarks in advertising and marketing campaigns across marquee league events, such as the Super Bowl, Pro Bowl and NFL Kickoff (press release).

In related news, Papa John’s won’t be replacing Peyton Manning in its TV commercials, even though the Denver Broncos quarterback has retired. “Peyton Manning is the Michael Jordan of football. Period. End of conversation,” CEO John Schnatter told Wall Street analysts during a teleconference yesterday on the chain’s better-than-forecast second-quarter financial results. He’ll play a different role, however, said COO Steve Ritchie. “I think you’ll see some very fun and interactive ways that the marketing team . . . has utilized Peyton in the spots” (Seeking Alpha). Here’s one with Manning, Schnatter and the Houston Texans’ J.J. Watt, and long-retired Hall of Famer Joe Montana.

Money in Politics August 4, 2016August 5, 2016

Rand Paul really likes Uber

In the battle for Sen. Rand Paul‘s senate seat, he and his Democratic challenger Jim Gray both spend a bundle on payroll, technology, research, and consultants, according to a review of 1,400 expenditures they’ve made from January 2015 to the end of this April.

Paul has outspent Gray, a construction company executive and Lexington mayor, more than two to one — mostly because Paul’s been campaigning so much longer, their campaign expenditure reports to the Federal Election Commission show.

The reports also show Paul’s campaign really likes Uber; it spent $5,866 just on the ride-hailing service in his total $104,073 for travel.

The bottom line

Overall, Paul spent $2 million from Jan. 2, 2015, to April 27, 2016. His three biggest categories:

payroll: $222,740
website development: $215,193
finance consulting: $195,457

Gray spent $945,911 from Jan. 31 to April 27. His three biggest:

advertising: $278,000
payroll: $220,703
research: $110,600

This spreadsheet lists all of Paul’s expenditures. And this one shows all of Gray’s.

Money in Politics August 3, 2016August 17, 2016

Irony alert: Taco Bell franchisee PAC among few to give maximum campaign donation to Trump

TACO PAC, the political action committee of the fast-Mexican chain’s franchisees, is one of only five PACs to max out their contributions to GOP White House nominee Donald Trump, with $5,000 — the most allowed under Federal Election Commission regulations.

Despite its bipartisan-looking logo, the Yum unit franchisees’ PAC has been leaning very right for the past eight years, according to Food & Wine magazine.

“In 2008,” it says, “TACO PAC donated a total of $24,500 to political candidates — $20,000 to Republicans, $4,500 to Democrats. In 2010, in an off-year election no less, it donated a total of $299,250 to candidates — $293,250 to Republicans, $6,000 to Democrats.”

So far this year, TACO PAC has donated $53,625 to Republicans and $3,500 to Democrats, according to the magazine.

Foodie site Grub Street notes the irony in the Pac’s $5,000 donation to the New York billionaire, “because Taco Bell’s mantra involves making a run for a border that Trump would at least attempt to wall off.”

Executive Pay August 3, 2016August 11, 2016

Reaching a new record high, Schnatter’s Papa John’s stake jumps past $800 million for the first time

This afternoon, Papa John’s stock soared to a new record closing high of $77.38 a share, up 4.6%, or $3.37, on a better-than-expected second-quarter report. That’s good news for all shareholders (except for the shorts, of course!) — but none more so than founder and CEO John Schnatter. He’s the pizza chain’s single-biggest stockholder, with 10,455,981 shares — 27.6% of all, according to Securities and Exchange Commission documents.

Papa John’s shares have staged a huge comeback since hitting a 52-week closing low of $45.50 on Feb. 3. Here’s the value of Schnatter’s stake that day compared to its rising value the day after each of the past three quarterly earnings reports:

$475,747,136

Feb. 3

$623,176,468

Feb. 23

$629,031,817

May 3

$809,083,810

Today

Schnatter, 54, founded Papa John’s in 1984, right after graduating from Ball State University with a business degree. More than 30 years later, it’s now a fast-food goliath with 4,700 restaurants worldwide — including more than 1,200 international ones in 37 countries and territories. It has 750 employees in Louisville, and another 21,000 across the globe. The company went public in 1993. More about Papa John’s.

Bottom Line August 3, 2016August 3, 2016

In new SEC filing, Humana warns investors about DOJ suit and possible ‘abandonment’ of $37B merger

The Louisville-based health insurer added new language to the “Risk Factors” section of its quarterly 10-Q report filled today with the Securities and Exchange Commission, about the Department of Justice’s lawsuit last month blocking Humana’s $37 billion merger with Aetna of Hartford. Here’s what the new section says.

Humana and Aetna logos 250 On July 21, the DOJ filed a civil antitrust complaint (which we refer to as the DOJ action) against us and Aetna in the U.S. District Court for the District of Columbia, charging that the merger would violate Section 7 of the Clayton Antitrust Act and seeking a permanent injunction that would prevent the Merger. The filing of the DOJ action is delaying, and, if we and Aetna are unsuccessful in defending against or settling the DOJ action, could ultimately prevent, the consummation of the merger. There can be no assurance that we will be successful in defending against or settling the DOJ action or that the merger will be consummated by any particular time, if at all.

In addition, even if we and Aetna enter into a settlement with respect to the DOJ action, there can be no assurance that we and/or Aetna will not be required to agree to terms, conditions, requirements, limitations, costs or restrictions that could further delay completion of the merger, impose additional material costs on or limit the revenues of the combined company, or limit some of the synergies and other benefits we presently anticipate to realize following the merger. We cannot provide any assurance that any such terms, conditions, requirements, limitations, costs or restrictions will not result in a material delay in, or the abandonment of, the merger.