Good Friday Morning,
Daylight – At high noon today, Donald Trump takes the oath of office as the 45th President of the United States. The main event does not include a superstar like Beyoncé or U2, but no matter how low-wattage the entertainment lineup will be, it will not bother the Trump crowd. They have Trump. Jubilant – they feel like they won one. Last night, Trump remarked he really liked moving to Pennsylvania Ave., because right down the same street, he is building a hotel he can now check on. The press lost their breadth, and the crowd cheered. This will go on for four years. By the way, I predict his first executive action will be on immigration – ironically, a terrible move for business and Entrepreneurs to come out the gate.
Culture – The federal government owns the building that houses that new Trump International hotel. As soon as he swears in, some might see that as a problem. By the way, it was at the last minute yesterday, but the Trump team asked 50 Obama staffers to stay on board for 90 more days. Let the press tell it, they have only filled five percent of the 690 key positions in an administration – Trump team said they are ready to rock and roll today with a little from some of their Obama friends. By the way, the country Gambia had an election in December and wound up with two presidents. Gambian leader Yahya Jammeh lost the election to Adama Barrow, but refuses to leave although the cabinet has fled. This morning, 7,000 troops are already inside Gambia to enforce the transition. The whole idea of an inauguration was George Washington’s to showcase the peaceful transition of power. By the way, it’s great for business. Yes, I think Trump will leave when it is time.
Ivanka.
M&A – Oracle agreed to buy Apiary, an API platform.
Style – Sleepless in Switzerland – New study shows going 17 hours without sleep affects your body the same way as drinking four beers for alcohol blood concentration. There is a potential solution. If you cannot fall asleep, you can take a six-week online course for $29.95 – or for $5 thousand dollars, a clinic in Switzerland promises to probe the secrets of your sleeping habits – one night stay. Hey, Sleepless is Switzerland has a nice ring and could pick up customers from Davos, who can’t sleep over the worry of Trump.
Economics – China’s economy grew 6.7 percent last year thanks to a robust monetary stimulus the government pumped in last year, and no headwinds of a looming trade war. Things change this year, and China is nervous. By the way, despite all the uncertainty of Donald Trump all over the world, here is the U.S., his victory ignited the steepest rally from Election Day to Inauguration Day for a first-term president since John F. Kennedy won the White House in 1960. By the way, count on Trump’s trade war with China. That ship has sailed.
Live Rounds – The NYTimes announces it is expanding its Washington Bureau – “One desk in particular will be exceptionally busy over the next four years – that of our Washington Bureau. So, to ensure we continue to deliver the in-depth journalism our readers deserve, we’re expanding, including the addition of a new Washington investigations team to our existing teams, covering the White House.” Doubling Down on the Duel.
Buzzard’s Roost – Bristol-Myers Squibb stocks sink eight percent after it says first thing this morning, it won’t pursue fast track approval for lung cancer drug treatment. Bristol had four clinical trials underway for the lung cancer drug Opdivo combined with Yervoy. The company said the data indicated no go.
Hot – Donald Trump chose Woody Johnson, owner of the New York Jets, as his ambassador to Britain. Speaking at lunch yesterday, Trump revealed his choice ahead of the planned announcement, which would have been this afternoon. His own team gets over it, as he keeps announcing appointments in unorthodox ways, usually when he feels like it. By the way, the Jets beat the Miami Dolphins in London at Wembley Stadium, so he does have some experience. Mr. Trump will nominate businessman William Hagerty as his ambassador to Japan.
Investment Banking – PNC Riverarch Capital sold Goldco, which operates 46 Burger King restaurants in Southeast Florida, to Seven Hospitality.
Hedge Funds – San Francisco Equity Partners acquired a majority stake in Red Monkey Foods, an organic spices and seasonings company.
Spotlight – A huge thanks to member Matt Witbeck for looking out for us. He sent us an email alert that The Huffington Post launched a Morning Report yesterday. Yes, they are copying our format awfully close. My family told me to quit whining about competitors, but I struggle with it.
Deal Stream>>>>>>>>>>>>>>>>>>>>
IPO – Laureate Education, a for-profit provider of high-education degree programs, set its IPO terms. It plans to offer 29 million shares priced between $17 to $20.
Exits – Hyatt Hotels Corporation acquired Miraval Group, an operator of wellness spas and resorts, from KSL Capital.
Venture Capital – The Players’ Tribune, an online site featuring content written by athletes (Derek Jeter is a co-founder), raised $40 million.
Flirtey, a drone delivery startup, raised $16 million.
Two Bit Circus, an entertainment company that installs circuses, raised $15 million.
Split, a platform for controlled rollouts, raised $8 million.
FLYR, a data science company that predicts flight fare changes, raised $8 million.
ID DataWeb, a provider of cloud broker services for identity security, raised $3 million.
Fabric, a digital life insurance company, raised $2.5 million.
Headset, Inc., a retail analytics firm for cannabis-related businesses, raised $2.5 million.
Laugh.ly, a streaming mobile app built for stand-up comedy, closed its seed round at $2.25 million.
Iris Automation, a developer of collision avoidance systems for industrial drones, raised $1.5 million in funding.
Private Equity – Elliott Management and Bluescape acquired a respective 5.4 percent and 2.5 percent stake in NRG Energy Inc.
Sentinel Capital Partners has hired Piper Jaffray Cos as it prepares to sell Checkers Drive-In Restaurants, a burger chain operator, in a deal that could value the company at around $500 million.
BV Investment Partners invested in C-4 Analytics, LLC, a digital marketing firm. C-4 Analytics’ founders Michael Weiss and Justin Cook will maintain a majority interest in the company.
Partners Group has acquired Curvature, a provider of equipment routers and switches, from Quad-C and merged the business with its portfolio company SMS Maintenance Services, a provider of managed IT asset lifecycle support services.
Modere, a manufacturer of nutrition and wellness products, agreed to purchase Jusuru International, a maker of anti-aging products.
The Abraaj Group acquired a majority stake Casaideas, a home design and decorations company.
And that’s what’s ahead, Cliff
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