McDonald’s says it’s not political after Trump visit

McDonald’s says it’s not political after Trump visit

Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024. 

Doug Mills | Via Reuters

Though President Donald Trump visited a Pennsylvania McDonald’s location on Sunday, the fast-food giant is trying to stay neutral in the presidential race.

“As we’ve seen, our brand has been a fixture of conversation in this election cycle. While we’ve not sought this, it’s a testament to how much McDonald’s resonates with so many Americans. McDonald’s does not endorse candidates for elected office and that remains true in this race for the next President,” the company said in an internal message viewed by CNBC and confirmed by a source familiar with the matter.

Trump learned how to operate a fry cooker and work the drive-thru line during his short shift at a Feasterville, Pennsylvania, restaurant. He used the stunt as an opportunity to take more shots at his opponent, Vice President Kamala Harris.

Trump often accuses Harris of lying about working at McDonald’s for a summer in her 20s, but has offered no proof backing up the claim. Harris has denied the accusation. McDonald’s and its franchisees don’t have all of their employment records for workers dating back to the early 1980s, when the 60-year-old Harris would have worked there, the company said in the Sunday memo.

“Though we are not a political brand, we’ve been proud to hear former President Trump’s love for McDonald’s and Vice President Harris’s fond memories working under the Arches,” McDonald’s said.

Both McDonald’s and the franchisee who operates the location emphasized that the chain opens its doors to “everyone.”

The photo shows a letter outside the McDonald’s verifying it was closed to the public at the time of Trump’s visit.

Lauren Mayk | NBC Philadelphia

“As a small, independent business owner, it is a fundamental value of my organization that we proudly open our doors to everyone who visits the Feasterville community,” franchisee Derek Giacomantonio said in a statement. “That’s why I accepted former President Trump’s request to observe the transformative working experience that 1 in 8 Americans have had: a job at McDonald’s.”

Although McDonald’s publicly supported the Black Lives Matter movement in 2020, it has tried to portray itself as an apolitical brand to avoid alienating customers. It follows a broader shift in Corporate America away from politics or initiatives perceived as ideological.

A number of companies, including Ford, Lowe’s and Harley-Davidson, have walked back their diversity, equity and inclusion policies and practices this year.

And that’s a change that many Americans want; only 38% of U.S. adults believe that businesses should take public stances, down from 48% in 2022, according to a Gallup-University of Bentley study conducted this spring. 

But McDonald’s has already been involved with another controversy this election cycle.

In late May, several viral social media posts criticized the burger giant’s affordability, citing everything from an $18 Big Mac meal at a Connecticut location to charts that alleged the chain’s prices had more than doubled over the last five years. Republicans latched onto the controversy, tying a jump in McDonald’s menu prices to Biden’s economic policy in a bid to win over voters fed up with inflation.

To quell the controversy, McDonald’s U.S. President Joe Erlinger wrote an open letter and released fact sheets about the company’s pricing.

— CNBC’s Kate Rogers contributed reporting.


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Meet Gigi and Bella Hadid’s lesser-known half-sister, Marielle Hadid: the eldest child of Mohamed Hadid is an interior designer, mum of 2, and was spotted with Gigi at a Taylor Swift concert last year

Meet Gigi and Bella Hadid’s lesser-known half-sister, Marielle Hadid: the eldest child of Mohamed Hadid is an interior designer, mum of 2, and was spotted with Gigi at a Taylor Swift concert last year

Fashion is clearly in the Hadid family’s DNA – from matriarch Yolanda and her daughters Gigi and Bella and son Anwar, to the trio’s older half-sis, Alana Hadid.
Marielle Hadid enjoying some downtime in Mexico. Photo: @mariellemama/Instagram

But did you know that the Hadid siblings have a lesser-known sister, Marielle – who hasn’t gone down the modelling route? Here’s what you need to know about her:

Marielle Hadid is the eldest of the Hadid children

Marielle Hadid with her much more famous siblings, Gigi and Bella Hadid. Photo: @mariellemama/Instagram
Marielle Hadid with her much more famous siblings, Gigi and Bella Hadid. Photo: @mariellemama/Instagram

Marielle Hadid, 44, was born in Washington to Mohamed Hadid and Mary Butler. She has one sister from her mum and dad’s marriage, Alana, who’s 39. Mohamed and Butler split in 1992.

Marielle Hadid with her mum, Mary Butler. Photo: @mariellemama/Instagram
Marielle Hadid with her mum, Mary Butler. Photo: @mariellemama/Instagram
Butler was Mohamed’s first wife before Yolanda. As many of us already know, Mohamed and Yolanda welcomed three children together who hardly need an introduction – Gigi, 29, Bella, 27, and Anwar, 25.

She lives in Los Angeles

Model genes: Marielle Hadid is the older sister of models Gigi and Bella Hadid. Photo: @mariellemama/Instagram
Model genes: Marielle Hadid is the older sister of models Gigi and Bella Hadid. Photo: @mariellemama/Instagram
According to Marielle’s website, she is based in Los Angeles, California. According to Today, she’s a Swiftie because she went to one of Taylor Swift’s Eras Tour concerts in Santa Clara with half sister Gigi Hadid last July. “Shimmer,” she captioned a selfie with her supermodel sibling – who’s dating Hollywood actor Bradley Cooper – at the event.

She is a mother of two

Marielle Hadid has attempted to redefine the idea of a homemaker. Photo: @mariellemama/Instagram
Marielle Hadid has attempted to redefine the idea of a homemaker. Photo: @mariellemama/Instagram

As reported in Grazia Malaysia, Marielle has two children, Coco and Colton. Marielle’s dad Mohamed appears to be a doting grandpa too. In 2016, he shared a photo of Colton, writing, “Colton [the] cutest kid on earth @mariellemama. Love this little boy.” It’s unclear if Marielle is currently in a relationship, but People magazine writes that she was previously seeing a man called Jack Halloran.

She is a homemaker


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Members of Congress call on companies to retain DEI programs as court cases grind on

Members of Congress call on companies to retain DEI programs as court cases grind on

NEW YORK — A group of Democrats in Congress appealed to the largest U.S. companies Tuesday to hold onto their diversity, equity and inclusion programs, saying such efforts give everyone a fair chance at achieving the American dream.

The 49 House members, led by U.S. Rep. Robert Garcia of California, shared their views in a letter emailed to the leaders of the Fortune 1000. The move follows several major corporations saying in recent months that they would end or curtail their DEI initiatives.

“Inclusion is a core American value, and a great business practice,” the lawmakers wrote. “By embracing this value, you create safer and fairer workplaces without sacrificing quality or financial success.”

A handful of U.S. companies, including Ford, Harley-Davidson, John Deere, Lowes and Molson Coors, dialed back their DEI initiatives over the summer. The retreats came in the wake of the U.S. Supreme Court outlawing affirmative action in college admissions and after conservative activists targeted the prominent American brands over their diversity policies and programs.

DEI policies typically are intended as a counterweight to discriminatory practices. Critics argue that education, government and business programs which single out participants based on factors such as race, gender and sexual orientation are unfair and the same opportunities should be afforded to everyone.

“They create toxic environments. They divide people,” Ilya Shapiro, director of constitutional studies at the Manhattan Institute, said of diversity, inclusion and equity initiatives.

The opponents have had several legislative and legal victories, and dozens more cases are working their way through the courts.

“These efforts to roll back rights are happening everywhere. They’re happening at the workplace. They’re happening in state legislatures,” Garcia told The Associated Press. “And it needs to stop. And we’ve got to push back and be vocal. We can’t just sit by and allow this to happen.”

The lawmakers’ letter states that growing numbers of American consumers spend their money with businesses that champion inclusion and are unlikely to continue supporting companies that they see backing down on commitments to bring people together.

“Continual progress towards more equal policies and benefits decreases the risk that anyone – employees and consumers – will experience discrimination, bias, and other threats to their safety and well-being,” the letter says.

The letter comes on the heels of the U.S. Equal Employment Opportunity Commission announcing that it filed 110 lawsuits in the past year alleging that employers sexually harassed teenagers, discriminated against workers based on sexual orientation and gender identity, engaged in patterns of discrimination and violated the Pregnant Workers Fairness Act, among other violations.

The lawsuits represent a small fraction of the complaints lodged with the EEOC. The agency received more than 81,000 charges of workplace discrimination in fiscal year 2023, which was a 10% increase over 2022, EEOC Chair Charlotte Burrows said.

For every complaint, the EEOC notified the employer and launched an investigation. Many involved allegations of racial harassment or religious discrimination, Burrows said.

“Most people don’t even report internally, much less to the federal government, when they experience discrimination, so unfortunately, it’s the tip of the iceberg,” Burrows told the AP.

She and other commissioners strongly support diversity, equity, inclusion and accessibility programs “because it is in so many ways an antidote to the kinds of practices that lead us to have to go to court,” Burrows said.

The Manhattan Institute’s Shapiro counters that DEI programs have little to do with civil rights law.

“The pushback against it is not a pushback against anti-discrimination laws or anything that existed really before 10 years ago or so,” he said. “DEI is divisive. It views people and issues through lenses of identity, classifies people based on privilege hierarchies and intersectional matrices, and is antithetical to a productive working environment.”

Meanwhile, lawsuits claiming reverse discrimination may be gaining momentum. The U.S. Supreme Court recently decided it would hear a lawsuit filed by Marlean Ames, who claims she was discriminated against in her job at the Ohio Department of Youth Services because she was straight.

“It’s a case that people are expecting will open the courthouse doors to more reverse discrimination suits,” said Jason Schwartz, co-chairman of the labor & employment practice group at Gibson Dunn.

Circuit courts have disagreed over whether to hold reverse discrimination cases to a higher standard. Some have ruled that if a person from a majority group brings a discrimination case, they have to show more evidence of discrimination than a person from a minority group who files a similar case.

“The Supreme Court’s interest in that case signals some potential that they’re going to lower the bar,” Schwartz said. “We already see a really massive uptick in these reverse discrimination cases.”

Groups such as the American Alliance for Equal Rights have pushed back on affirmative action policies at universities and diversity, equity and inclusion policies run by corporations.

Recently, the Atlanta-based Fearless Fund had to shut down a grant contest for Black women business owners as part of a settlement with the American Alliance for Equal Rights, which argued that race-based programs should be open to everyone, regardless of race.

“There’s been such an intense focus on all of the risk emanating from the anti-DEI side,” said David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion, and Belonging at the NYU School of Law. “But I do worry sometimes that organizations may be over-correcting for that or worrying a little bit too much about that at the expense of the other side of the equation.”


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Disney World and other Orlando parks to reopen Friday after Hurricane Milton shutdown

Disney World and other Orlando parks to reopen Friday after Hurricane Milton shutdown

ORLANDO, Fla. — Florida theme parks including Walt Disney World, Universal Orlando and SeaWorld planned to reopen Friday after an assessment of the effects of Hurricane Milton.

Some Halloween special events won’t be offered and they won’t necessarily be fully functioning Friday, but the public is welcome back, the parks said in statements.

As Milton came ashore as a major storm Wednesday, all three Orlando-based parks shut down, putting a damper on the vacations of tens of thousands of tourists, many of whom hunkered down in hotels. Disney World, Universal and SeaWorld were all closed for at least part of Wednesday and all of Thursday.

Orlando International Airport, Florida’s busiest, planned to resume domestic arrivals on Thursday and departures Friday after mostly shutting down Wednesday.

The airport’s closure prevented Simon Forster, his wife and their two children from returning to Scotland, so they enjoyed an extra two days of their two-week vacation on the bustling International Drive in Orlando’s tourism district on Thursday. Hurricanes seem to follow them since two years ago Hurricane Ian kept them from returning to Scotland after another Orlando vacation.

“Last night, it was quite intense, Forster said. “I was watching the palm trees sway back and forth outside my hotel room. How they didn’t come down, I don’t know. Scary stuff.”

Their hotel at Universal Orlando Resort had a party atmosphere Wednesday night ahead of Milton’s arrival.

“The bar was good fun,” he said. “Two extra days here, there are are worst places we could be.”

In Tampa, the animals were safe at popular tourist attractions ZooTampa and The Florida Aquarium, which were aiming to reopen Saturday.

The 1,000 animals at the zoo will remain in their night houses and hurricane shelter locations while habitats are cleared of debris, a spokesperson said. The aquarium also confirmed their animals are “doing well.”

“Our buildings weathered the storm well, as did our animals,” Roger German, president and CEO of the aquarium said in a Thursday news release.

The zoo sustained some damage from the high winds and does not have power, and the spokesperson anticipates the debris cleanup and restoration, which is already underway, will take a few days.

In Orlando, miniature golf was among the few activities available to tourists who had been locked down in their hotel rooms and rental condos with the parks closed. There was a line getting into Congo River Golf on International Drive.

Craig Greig of Glasgow, Scotland, would have been at the Magic Kingdom with his wife and 10-year-old if the theme parks had been open. Instead he was clutching a putter ready to putt golf balls over a man made lagoon filled with baby alligators.

“We just wanted to stretch our legs and get out of the hotel,” he said. “Especially for the little one.” He slept through the night as the hurricane, his first, roared through central Florida.

Disney World, Universal and other attractions make Orlando the United States’ most visited destination, drawing 74 million tourists last year alone.

And Halloween-related celebrations have made October one of the busiest and most lucrative stretches.

Hurricanes in the Orlando area are uncommon but not unheard of. Three crossed the area in 2004 – Charley, Frances and Jeanne, and Hurricane Ian caused some flooding as it plowed through as a downgraded tropical storm in 2022.

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Associated Press Writers Andrew Dalton and Kaitlyn Huamani contributed from Los Angeles.

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Follow Mike Schneider on the social platform X: @MikeSchneiderAP.




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Spirit Halloween to open 10 new ‘Spirit Christmas’ stores

Spirit Halloween to open 10 new ‘Spirit Christmas’ stores

A family exits a Spirit Halloween store operating in a former Best Buy. 

Paul Weaver | Lightrocket | Getty Images

Some Spirit Halloween locations will be busy for longer than usual this year.

Spirit Halloween will operate 10 stores through the entire holiday season as “Spirit Christmas,” a spokesperson confirmed with CNBC.

Instead of the company’s usual strategy of renting abandoned storefronts only long enough to host the Halloween-specific retailer, 10 stores around the Northeast will open through the end of the year. The company’s flagship store in Mays Landing, N.J., will open on Oct. 18, while the other nine locations will open in early November, the spokesperson said. Not all stores will be converted from existing Spirit Halloween locations.

“Spirit Christmas is a new concept for us, and we’re hopeful it will resonate with our customers,” a spokesperson for Spirit Halloween told CNBC. “Our goal is to create a festive retail experience that captures the spirit of the season, much like we do for Halloween.”

Each store will have holiday inflatables and decor, but they will not all have the same experiences. The new stores won’t just replace fake skulls and costumes with wrapping paper and stockings, they will also have activities like photographs with a real-life Santa and letter writing to the North Pole.

The first 10 locations will act as a test to see whether customers will stay invested through the holiday season.

Holiday sales are a lucrative space, but not certain bet for the company. Spending grew 3.8% year over year to $964.4 billion in 2023, according to the National Retail Federation.

Deloitte estimates that holiday retail sales will increase 2.3% to 3.3% in 2024, but expects a higher jump of 7% to 9% for e-commerce, which the Spirit Christmas test stores will not support. Amazon is already sizing up for the holidays with plans to hire 250,000 workers for the season, the same number as last year.

Holiday spending could also be affected by a tense presidential election in November and a historically tumultuous season of hurricanes in progress.


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Amid Verizon outage, Bay Area emergency services, business proceed as usual

Amid a nationwide Verizon outage that impacted phone service from coast to coast, business and emergency services in the Bay Area largely continued operations as usual on Monday.

More than 100,000 people across the country reported issues with their Verizon phone service Monday, with the peak of reports coming around between 8 and 9 a.m., according to Downdetector, a service that monitors technology outages. Verizon announced Monday afternoon that services were beginning to come back online, but the company did not confirm how many of its more than 110 million customers in the U.S. were affected.

“We live and die on our phones,” said Rob Enderle, a technology analyst. An outage “creates a fairly big drag.”

The San Jose Police Department received no reports that 911 calls were impacted by the outage, a spokesperson said. Both the Oakland Police Department and the San Francisco Police Department also both reported that there were no communication issues.

The San Jose Fire Department uses FirstNet for calls, which is supported by AT&T, so its communication system had “minimal impact,” said a representative from the department.

In addition to emergency call systems remaining active, even phones without service are able to make calls to emergency services.

“If you are a Verizon customer and are not able to make any calls, you should still be able to call 911 as long as your phone is able to connect to another carrier. Your phone might say ‘Emergency calls only’ or ‘SOS,’” said the San Francisco Department of Emergency Management.

If your phone still cannot make a call, the Department of Emergency Management recommended connecting to a Wi-Fi network to use Wi-Fi calling, use a landline or Internet-based phone or attempt to get ahold of a family member or friend with another phone carrier to make the call for you.

Enderle added that an outage can be dangerous during this time of year when there are large weather events occurring at the same time.

An outage of this scale “can be incredibly damaging to government operations of everything from military to just making sure the police arrive on time to a bigger disaster,” he said.

The main impact of the outage would be from a commercial standpoint, said Tim Bajarin, a technology consultant, but that would mostly be a “nuisance” with potential workarounds.

“A lot of firms aren’t set up for that, so then you’re scrambling around trying to find alternative ways to make contact,” Enderle said.

Bajarin said that most businesses — even small ones — have Internet access, which provides a host of calling alternatives for those facing outages. The only business that would be significantly impacted would those that rely on transactions that take place somewhere without Wi-Fi, such as a farmer’s marker, he added.

Originally Published:


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Verizon provides update on outages in LA, across US – NBC Los Angeles

What to Know

  • Verizon customers in Los Angeles and throughout the country began reporting outages early Monday.
  • Many users reported their phone entering SOS mode, indicating a device isn’t connected to a network, but can still make emergency calls.
  • By Monday afternoon, Verizon said its engineers “fully restored” the network disruption.

Frustration that began Monday morning continued into the afternoon for Verizon customers in Los Angeles and across the United States plagued by widespread outages.

Outages began around 6 a.m. in the Los Angeles area, according to the website Downdetector. Most of the outages reported early Monday were in Chicago, Minneapolis and other Midwest cities with other reports coming from Phoenix and Denver.

There were more than 3,000 outage reports received from customers in the Los Angeles area by 9 a.m., according to Downdetector. By Monday night, the post had 34 responses.

Nationwide, more than 80,000 reports had been submitted on the site early Monday.

After 4 p.m. Monday, Verizon said service has “fully restored.”

“Service has returned to normal levels,” Verizon said. “If you are still having issues, we recommend restarting your device. We know how much people rely on Verizon and apologize for any inconvenience.  We appreciate your patience.”

Details about what led to the outages were not immediately available.

The telecommunications company responded to users on its support account on X saying, “We understand the importance of staying connected, and would be happy to take a look at what’s occurring,. Please send us a DM, and we can jump right in!” and “Hello! I know how frustrating this may be and how important it is to have reliable service. Send us a DM to address any concerns you may have today.”

Users also reported issues accessing Verizon’s support page on its website. A post on X by Verizon Support had hundred of responses by mid-morning.

Why is my phone SOS?

Many users reported phones displaying “SOS” mode. The message appears on iPhones when a device is not connected to a cellular network to indicated the user can still make emergency calls through other networks.

The feature is available only in the United States, Canada and Australia.




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Tony Godsick, John McEnroe outlines business of tennis ahead of Laver Cup

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Laver Cup Chair and Team8 CEO Tony Godsick and John McEnroe joined CNBC’s “Squawk Box” to discuss the 2024 Laver Cup and the business of tennis. The interview has been edited for length, clarity and brevity.

Q: The business of the Laver Cup, how much of it is the sponsorship versus the tickets versus the media rights and I’m thinking about the Tennis Channel and others?
Godsick: I think right now we look at the tickets and the sponsorships as our two major drivers. It was very important for us to when we started to build the Laver Cup that we got a lot of eyeballs on the event. … So sponsorship, we do very well in ticket sales. We do very well in media, we do well. But in terms of a blanket broadcast, we do great. But in terms of money, I think that is something we’re going to continue to work on. And as you see, streaming is where it’s going to be in the future. … So I would imagine, sort of, we liked to be a leader in that area in tennis and I wouldn’t be surprised in the future if you see this living exclusive, potentially on one of the streaming platforms.

Q: John what do you think of the business of tennis right now?
McEnroe: I think the business of tennis is doing better. … The game is not accessible enough, not affordable enough yet. … And final thing, at some point in the majors, the players have to be in partnered with those events. I totally disagree with the business side of that right now. We’re getting bamboozled as we’ve been all through the years even though there is more money then there has ever been. There needs to be a partnership like there is in the NFL, NBA, NHL, etc.

Godsick: I actual think the business of tennis is doing really well. … the U.S. Open just had a million people come through their gates, they just did a new media deal with ESPN that was reported to be over $2B over a long term deal. You see all these new brands coming into tennis you know to compete with Nike and Adidas. You got New Balance that’s killing it. You got ON that’s killing it, you got Hugo Boss coming into the business. The fashion world is really loving tennis. And then you look at the stars. I mean Taylor Swift was out at the U.S. Open.

Q: Do you then have to have the Majors together in some way should there be a overall affected league, is this to be like the PGA? What would the model be?
McEnroe: The players have an association, but they don’t have a union. So we need to do a lot better. Cause the sport is worldwide, players are spread out all over the world, it’s tough for us to agree on a lot of things. And in order to get what we want … You probably need to boycott a Major or two, in truth. That’s the only way to show these guys we mean business.

Godsick: Certainly sitting down at the table and having dialogue. Look the Grand Slams, I heard a stat recently that they make 80% of the revenue, the four slams in the sport of tennis. So obviously they are doing very well. The players need to be compensated more. … So everyone needs to sit down at the table and figure out how we move this sport forward (“Squawk Box”, CNBC, 9/19).




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Aroostook town will soon have a drive-thru boba tea business

HODGDON, Maine — When Randi Farrar closed her downtown Houlton tea and herb shop earlier this year, a few customers mentioned they missed getting her fresh brews.

So she got her kitchen certified, her well water tested, bought a 40-slot cup holder, a larger vehicle and started delivering her specialty boba iced teas to Houlton businesses and a few residential customers.

“It just went crazy,” Farrar said. And while she is not sure how word spread, she’s now delivering 100 or more iced teas in one day.

The demand has been so great Farrar decided to open a drive-thru business in nearby Hodgdon to serve teas and coffee.  

Boba, or bubble tea, is a Taiwanese recipe that blends tea with milk, fruit and fruit juices and tapioca pearls. But Farrar uses popping pearls instead of tapioca in her boba teas because customers love those, she said.

“They are juice balls, and when you suck them up through the straw, they explode in your mouth,” she said.

Farrar is now putting the final pieces together for Randi’s Corner Perk on Corner Road in Hodgdon. The name is a twist on Central Perk, a famous fictional hangout from the sitcom “Friends,” she said.

The drive-thru will be open in fall, winter and spring. In addition to her boba and chaga teas, Farrar will offer coffee, cappuccinos and quick food items like muffins and hot egg sandwiches.

There will also be seating inside for about 20, she said, adding that she is waiting for the final occupancy number from the fire marshal.  

On Wednesday, Farrar described what the drive-thru will look like when completed as she walked along what will be the tear-drop drive-thru path.

The building is an Amish-built structure that she and her husband, Tom Farrar, have painted in a vibrant near cobalt blue with white trim.

There are pieces of white picket fence ready to go along the drive, and she’s still working on how she will display the menu board outside to withstand Maine winters.

Birch Bark Brews, chaga tea blends that Farrar co-owns with Alyssa Hutchinson, will be available at Corner Perk as well as some of her other herbal items from her Lotus and Leaf business.  

Randi’s Corner Perk is expected to be open by Thanksgiving, and it will be open from 7 a.m. to 4 p.m. Monday through Friday.

Farrar put the idea of the drive-thru on Facebook to see if it interested people.

“I got a huge response,” she said, adding that people don’t like to get out of their cars in the winter.


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Howard University School of Business to Collaborate with United Negro College Fund Project ACCLAIM

WASHINGTON – Howard University has been chosen as a launch site for the United Negro College Fund’s Project ACCLAIM (Accelerating Learning in Asset Investment Management), a groundbreaking initiative designed to cultivate a robust pipeline of students from historically Black colleges and universities (HBCUs) entering the financial services sector. 

The program will launch at Howard University and Morehouse College in fall 2025 and is funded by a transformative $10 million gift from Adage Capital Management and Elizabeth and Phill Gross. 

“Investing in the next generation of leaders is essential to the long-term health of the finance industry,” said Phill Gross, co-founder and managing director of Adage Capital Management. “Given the outsize impact of HBCUs, they are an ideal partner to strengthen the career pathways that will make our industry more inclusive and resilient. With the support of UNCF, we aim to build a best-in-class model with Project ACCLAIM that will attract additional investment while scaling to other HBCUs across the country.” 

Project ACCLAIM will provide HBCU students with a comprehensive undergraduate learning experience in investment management, equipping them with the knowledge and skills necessary to succeed in the asset management industry. Through a combination of rigorous coursework, hands-on experience, and co-curricular activities, the program aims to enhance finance and investing curricula at HBCUs, foster a strengthened community of practice among faculty, and establish a centralized student-managed investment pool. 

“HBCUs play a critical role in producing talented and diverse professionals who make significant contributions to various industries,” said Anthony D. Wilbon, Ph.D., dean of the Howard University School of Business. “The opportunity presented by Project ACCLAIM will deepen Howard’s ability to ensure that every student who graduates from our program is ready for life after Howard and represents an opportunity to pair classroom learning with real-world experience.” 

Over the next year, a dedicated team of faculty, industry experts, and program leaders will focus on three critical areas to ensure the successful launch of Project ACCLAIM: developing a rigorous curriculum tailored to HBCU students, establishing partnerships with leading financial firms for internships and mentorships, and creating a centralized framework for the student-managed investment pools. Faculty workshops will align teaching with industry standards and regular stakeholder meetings will refine the program, setting a new standard for experiential learning in asset management. 

“By cultivating a robust pipeline of Black talent in the financial services industry, this transformative initiative will play a critical role in closing the wealth gap for African Americans” said Michael L. Lomax, Ph.D., president and CEO of UNCF. “By empowering HBCU students with real-world experience, mentorship and access to capital, Project ACCLAIM equips them to become future leaders who can drive positive change within the industry and their communities. We are thrilled to launch this program at Morehouse and Howard and look forward to expanding Project ACCLAIM’s reach and impact in the years to come.” 

UNCF hopes to expand this powerful initiative to other cities and HBCUs in the future, further diversifying the financial services industry and creating more institutional wealth-building activities that have a lasting impact on the communities served by these institutions. 

 

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About Howard University  

Founded in 1867, Howard University is a private, research university that is comprised of 14 schools and colleges. Students pursue more than 140 programs of study leading to undergraduate, graduate, and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced two Schwarzman Scholars, four Marshall Scholars, four Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more than 165 Fulbright recipients. Howard also produces more on-campus African American PhD. recipients than any other university in the United States. For more information on Howard University, visit www.howard.edu.  

About UNCF  

UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. While totaling only 3% of all colleges and universities, UNCF institutions and other historically Black colleges and universities are highly effective, awarding 15% of bachelor’s degrees, 5% of master’s degrees, 10% of doctoral degrees and 19% of all STEM degrees earned by Black students in higher education. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 50,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, ‟A mind is a terrible thing to waste.” ® Learn more at UNCF.org or for continuous updates and news, follow UNCF on X (formerly Twitter) at @UNCF




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