The Daily Valet. - 6/9/23, Friday

✔️ A First for America

June 09, 2023

Friday, June 9th Edition

By Cory Ohlendorf, Valet. Editor

We made it to Friday ... who's ready for the weekend?

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Today’s Big Story

Trump Indicted

Indicted on SEven counts in classified docs probe, the former president Is the first to face federal criminal charges

After a lengthy investigation, former President Donald Trump has been indicted in relation to his handling of classified information while out of office. While this is Trump's second indictment, it's the first time a former president has ever faced federal criminal charges.The indictment, handed up by a grand jury in Federal District Court in Miami, includes seven criminal charges in connection with his mishandling of classified documents. The Justice Department made no comment and did not immediately make the indictment public.However, Trump confirmed on his social media platform that he had been indicted. Trump lawyer Jim Trusty told CNN a summons that his legal team received from the feds included at least one charge related to the Espionage Act, “several obstruction-based type charges, and then false statement charges.” Asked whether there was a conspiracy charge, as well, he said, “I believe so.” NBC News confirmed that one of the charges was related to the Espionage Act.Trump, who is the front-runner for the 2024 Republican presidential nomination, will appear in federal court in Miami for an arraignment on Tuesday at 3 p.m. But he told Fox News late Thursday that he'd plead not guilty to the charges.The indictment caps a high-stakes investigation that began in early 2022 and eventurally led to an FBI search that uncovered more than 100 classified documents after Trump's team confirmed that everything had already been turned over. According to the Washington Post, those documents included papers about a foreign country's nuclear capabilities, a highly sensitive document about Iran's missile program, and pages about U.S. intelligence-gathering efforts aimed at China.

Dig Deeper:

This New York Times interactive shows how and where the documents were stored at Mar-a-Lago.

We’re Officially In a Bull Market

Here's Exactly what that means and how long the bull might run

Wall Street is feeling bullish again. The S&P 500 rallied Thursday to end the day in a bull market. What exactly does that mean? Wall Street's nickname for a surging stock market is a bull market because bulls charge, one investment strategist told the Associated Press. In contrast, bears hibernate, so bears represent a market that's retreating.But they can be hard to officially pinpoint because there's no authority of rules or regulations. Howard Silverblatt, senior index analyst at S&P Dow Jones Indices in New York, told Reuters that there have been 15 bear markets for the benchmark S&P index, beginning in September 1929, at the end of the Roaring Twenties boom, to the current one which began on Jan 3, 2022.Over the past week, the stock market has gained momentum—likely because of the end of the debt ceiling crisis, optimism that the Federal Reserve will pause rate hikes at its June meeting and a recent string of strong economic readings. And while those are all positives for the economy, analysts fear that this could be a short-lived rally. Inflation remains too high for comfort. The U.S. economy is still adding jobs, but the pace has been slowing. And while consumers are still spending, they seem to be pulling back some on discretionary expenses and focusing instead on necessities.

FYI:

According to the Wall Street Journal, this was the S&P 500’s longest bear market since the 1940s.

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Stacked Airplane Seats Are Back

But how realistic are these double-decker seats?

Anyone who's been on a plane recently can tell you how uncomfortable most airline seats are these days. Which is why industrial designer Alejandro Núñez Vicente is hoping to offer up a little more room for economy seats. But his concept might sound a little odd (or even nightmarish) to some travelers: Double-decker airplane seats. If this sounds familiar, you might recall that the idea started as a college project, but it went viral after being nominated for the Crystal Cabin Awards in 2021.The 23-year-old Madrid-based designer has been refining his original concept and just brought a new prototype to this year's Aircraft Interiors Expo in Hamburg, Germany, where it will be tested by a few big players in the airline industry. Núñez Vicente is also acutely aware that airlines generally aren't interested in investing in economy class. There are exceptions—like Air New Zealand's new economy SkyNest—but usually business and first class are where the innovation happens.Haters, however, are always going to hate—and several stories have already been written about the dangers of mid-air farting. But Núñez Vicente isnt worried. “Most of the times when they show you something new, everyone hates it at first, they're scared of change,” he told CNN. “But the more you show it, and the more you develop it, and the more they see it, the more they get used to it.” What do you think? Ready to stretch your legs?

FYI:

ArsTechnica says that despite the intrigue, we’ll likely never fly in an airplane with these double-decker seats.

A Weekend Pairing

‘Flamin’ Hot’ + a Palomaesque Cocktail

Flamin' Hot, streaming now on Hulu, is about—as you might've guessed—the wildly popular Cheetos that currently comes in a range of flavors, including Flamin' Hot Limón, Flamin' Hot Asteroids, and Flamin' Hot Chipotle Ranch, which are all nestled within the Frito-Lay/PepsiCo corporate multiverse. The story is based on his memoir about an improbable rise from janitor to Frito-Lay marketing executive, where he invented the spicy snack.Of course, the company says that the rags-to-riches tale was heavily embellished and refuted by a 2021 Los Angeles Times report. But whose dad doesn't exaggerate, right? That doesn't make this unconventional hero's journey any less inspiring and compelling. Without a GED and barely literate, he lands a lucky break sweeping up at the factory. His enthusiasm and eagerness to learn soon prompt his colleagues to pull him aside and caution him on the necessity of knowing his place. And while the film certainly takes creative liberties and embraces the cheesiness (if you'll allow the pun), some facts are indisputable: He did work his way up from a maintenance man to a executive specializing in multicultural promotions. Plus, early reviews for the film seem positive.

Pair It With

Assuming you’re going to be crunching on some Flamin’ Hot Cheetos while you watch this, wash them down with a refreshing, tangy and slight smoky mezcal riff on a classic Paloma. Bartender Scott Baird makes his version with mezcal, fresh grapefruit juice and Cocchi Americano, the sweet Italian aperitif wine.

Also Worth a Watch:

‘It’s Always Sunny in Philadelphia,’ season 16 on Hulu; ‘Based On A True Story’ on Peacock

In Other News

Cuba to Host Secret Chinese Spy Base

Beijing has agreed to pay Havana several billion dollars for eavesdropping facility.

Supreme Court Unexpectedly Upholds Provision Prohibiting Racial Gerrymandering

Nutrient Found in High-Protein Foods Helps Slow Aging

Google Releases New Plan to Protect You From AI Threats

Have you heard about ...

The 14-year-old animator for ‘Across the Spider-Verse’

Good-for-you candy bars

Bill Murray and Kelis

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