The Daily Valet. - 10/4/21, Monday
✔️ Opening a Pandora's Box
Monday, October 4th Edition
This may or may not come as a shock, but I have no offshore accounts.
Cory Ohlendorf, Editor ⋯ @coryohlendorf
Today’s edition is presented by
Today’s Big Story
What Are the Pandora Papers?
A trove of leaked documents unlocks financial secrets of politicians, billionaires and the global elite
More than 600 journalists in 117 countries have been trawling through the files from over a dozen sources for months, finding stories that are being published this week.
Dubbed the Pandora Papers, the investigation reveals the inner workings of a “shadow economy” that benefits the wealthy and well-connected at the expense of everyone else.
The financial records shared with the Washington Post exposes vast reaches of the illicit system used to hide billions of dollars from tax authorities, creditors, criminal investigators and—in 14 cases involving current country leaders—citizens around the world.
According to the International Consortium of Investigative Journalists, the files document offshore holdings of more than 130 billionaires from 45 countries, including 46 Russian oligarchs. In 2021, according to Forbes, 100 of the billionaires had a collective fortune of more than $600 billion. Other clients include bankers, political donors, arms dealers, pop stars, spy chiefs and sporting giants.
What does all this mean? Well, owning an offshore company is legal, technically. But the secrecy it provides can give cover to illicit money flows, enabling bribery, money laundering, tax evasion and terrorism financing, experts say. And the offshore financial system siphons money from government treasuries, worsens wealth disparities and often protects those accused of wrongdoing while depriving their victims of potential recourse.
It should be noted that America’s wealthiest businessmen do not appear in the documents. Financial experts told the Washington Post that the “uber-rich in the United States tend to pay such low tax rates that they have less incentive to seek offshore havens.” So I guess we’ve got that going for us.
↦ Dig Deeper: Explore the biggest political names uncovered in the data.
The COVID Divide
The virus is killing rural Americans at twice the rate of people in urban areas
Over the weekend, the U.S. death toll from COVID-19 eclipsed 700,000. According to NBC News, the last 100,000 deaths occurred during a time when vaccines—which overwhelmingly prevent deaths, hospitalizations and serious illness—were available to any American over the age of 12.
It highlights a grim reality that was recently reported: The average pace of COVID deaths among rural Americans is now nearly double that of people in cities. Experts says it's a divide that is likely to widen as access to medical care shrinks for a population that tends to be older, sicker, heavier, poorer and less vaccinated.
A recent survey from the Kaiser Family Foundation reported 20% of rural residents said they would “definitely not” get a vaccine, compared to just 7% of urban and 14% of suburban residents.
Making matters worse, rural health officials fear staffing shortages could be exacerbated by health care vaccination mandates promised by President Joe Biden, which they say could cause a wave of resignations the hospitals cannot afford.
Partner
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A Widescreen Problem
What’s the deal with Seinfeld’s aspect ratio on Netflix?
After leaving its Hulu home of six years, Seinfeld has returned to streaming after a brief hiatus: The iconic '90s sitcom now lives on Netflix. But while Netflix has upgraded the show to 4K in order to look better than ever, fans are pissed.
That's because Netflix chose to update the show's aspect ratio also, which, not only cuts off Jerry's legendary sneakers, but in some cases, ruins visual jokes. See above in the pothole-less “pothole episode.”
You see, back in the day, TV screens were square. The reason for this? Because in the earliest days of the film camera, movies were square. As Kelly Conboy writes on A24's blog, “the numbers '4:3' describe the literal size of the film, meaning it was four-by-three inches on 35mm film stock.” But in 2021, the default aspect ratio for television is '16:9.'
And this causes problems for many shows brought into the modern streaming pipeline. In fact, Disney+ had to provide viewers with a switch so The Simpsons could be watched in its original format. After all, as Allegra Frank points out at Slate, “taking a show that was meant to be seen one way and rejiggering it to be seen a whole different way can be quite jarring.”
↦ FYI: Seinfeld's arrival on Netflix was two years in the making. The streamer acquired the classic sitcom for a whopping $500 million back in 2019.
Fickle BBQ Pork Sandwich Returns
Celebrating the 40th-anniversary of the commitment-phobic McRib
It's been a while since McDonald's die-hards were able to sink their teeth into a McRib, but the popular sandwich is returning to the menu once again in just a few weeks.
This year is a milestone for the limited-time-only sandwich. The fast food chain is celebrating the McRib's 40th anniversary—it debuted in Kansas City back in 1981. Representing a unique intersection between food and pop culture, the sandwich is known for its unmistakable BBQ sauce slathered boneless pork patty topped with onions and dill pickles.
It officially returns on November 1st, but word is out now to stir up the usual frenzy this sandwich enjoys. Personally, I'm all for nostalgia but never quite understood why people go nuts for it. Is it just because it comes and goes? Because like most fast food, it's rarely what you're promised. It's often more like what you see in the photo above.
The Star-Ledger's Jeremy Schneider writes about how he wishes he could quit the damn thing. After finally finding a participating McDonald's in a Walmart, he describes being reunited with the sandwich he loves (or loves to hate): “Your pork patty was hanging off your bun. Barbecue sauce was everywhere. You were topped with a scant pile of pickles and slivered onions that you clearly threw on in a hurry when you saw me drive up. Sloppy as always.”
↦ FYI: In Germany, the McRib sandwich is available all year long.
In Other News
Other Things We’re Talking About Today
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Partner
Strengthen (and Regrow) Thinning Hair
hims calls in the big guns
The bad news: you realize that your hair is looking a little thinner these days. The good news? It's never been simpler to fight hair loss, regrow your lustrous locks and strengthen the hair you have. hims has come out on top of the brands offering telemedicine because they make it so easy and the results speak for themselves.
They offer a suite of products—both prescription and over-the-counter—aimed at building back a thick, healthy head of hair. In addition to finasteride and minoxidil (a one-two punch to stop the loss and regrow more hair), the brand offers a saw palmetto shampoo (that unblocks follicles and stimulate strands). You could also pop some biotin gummies, formulated to support thick hair, strong nails and healthy skin. (I take them daily and can confirm they're delicious!)
Of course, with a handful of options, you might be wondering what's best for your situation. That's why hims offers free telemedicine appointments with a doctor who can guide you and get you on a plan that works for your situation. But don't take my word for it. Ask the Gronk. hims recently partnered with the NFL wise guy to bring increased awareness to men's health topics and treatment from hair loss to mental health.
“Most men simply aren't aware of the options available to them, or are uncomfortable having these tough conversations,” says Gronkowski. “I hope to contribute in bringing more positive attention to the importance of investing in your mind and your body, and ultimately prioritizing your health.”
What We Want
There's a cool confidence boost that comes with new gym clothes. And the new Zara Athleticz collection includes a portfolio of performance gear that combines technical functionality and sustainable materials with ultimate comfort. The garments, like this seamless tee ($49.90), are manufactured using such technical processes as flatlock seaming, thermal mixed hems and laser cut finishing in order to minimize abrasion and provide compression in just the right areas to maximize performance.
↦ Want more? 5 stylish items to buy this week
Today’s Deals
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Morning Motto
You’re not alone …
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That’s all for today...
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