Gee, whizzes! Nine brainiacs from NYC high school reap total of nearly $11M in college scholarship money
Nine newly minted graduates of Cardinal Spellman Catholic high school are now in the 'Millionaire's Club'' — raking in a whopping total nearly $11 million in scholarship money.
The teen geniuses were each awarded more than $1 million in merit-based grants — much of it from a plethora of prestigious schools, including Ivy Leagues — for a staggering total of $10,799,476.
3 Cardinal Spellman high-school students (clockwise from top left) Shakira Simo, Robert Hernandez, Gabrielle Henriques, Nina Gonzales, Akua Amponsah, Rehema Ojwang and Kaylynn Little beam after reaping a total of nearly $11 million in college scholarship money this year.
Stephen Yang
'Somebody actually called and argued with me that that was impossible,' said Dierdre Gibbons, the director of admissions at Spellman.
Rehema Ojwang, one of the amazing nine, said, 'It kind of shows people that are just coming up and are about to find a college and are looking into their futures that this is really doable.
'I'm not a genius, and I was born and raised in The Bronx,' said the super student, who plans to study politics at Princeton University in the fall. 'I'm a first-generation American, my parents are immigrants.
'What you have to do is just stay passionate in the things that you do — you don't have to start a business, and you don't have to start a nonprofit, you don't have to go to these heights. I think you just have to make sure that you are putting effort into the things that you like doing.'
Another 'Millionaire's Club' member, Shakira Simo, said she is looking forward to studying public policy at Brown University.
'I think it's really inspiring to accomplish something so big,' she said. 'It's not something I really would have imagined when I was a freshman, sophomore or even junior. I think just having grit and determination, persistence really gets you to that point.'
3 The brainiacs applied to an average of 16 schools each.
Stephen Yang
Joining Simo and Ojwang in the 'Millionaire's Club' are Alyssa Rill, Gabrielle Henriques, Rehema Ojwang, Robert Hernadez, Akua Amponsah, Nina Gonzalez, Saniya Smith and Kaylyn Little.
All of the stellar students filed countless school and scholarship applications in the past few months in addition to wrapping up their senior year and making time to enjoy their final moments as classmates.
In addition to scoring plenty of university scholarships, the students won a significant portion of the money from outside groups, too.
They spent countless hours writing essays for each individual scholarship, many of which offered amounts as relatively low as $1,000.
The kids aren't just book-smart, either. Henriques, for example, sewed her own prom dress, while Hernandez was a major player in the school's theater program.
3 The group is not only academically stellar but stand out in other ways, too.
Stephen Yang
The kids cast a wide net to reach their incredible eight-figure total, applying to an average of 16 different universities. Hernandez topped his friends, applying to 20 different schools.
'I want to be the greatest actor ever. Anything with the musical theater program, I'm jumping on,' he explained.
Some of the impressive schools the students are attending next year include Princeton University and Marist College, as well as SUNY Stonybrook and Lehman College.
The teens said the college application process pushed them out of their comfort zones and involved some of them calling universities and asking for additional money on top of their scholarships.
Spellman has proudly flaunted its record-breaking total on its social-media channels.
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Miami Herald
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- Miami Herald
The biggest retail & restaurant bankruptcies of 2025 (so far)
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The reasons for this sharp increase in companies' financial woes are many, and while they certainly vary between industries and individual businesses, certain factors have been taking a toll across the board. The rate of inflation peaked in June of 2022 at over 9% as measured by the CPI, and while it's mostly been falling since then, that doesn't mean that prices are going down - it just means they're not going up as quickly. Don't miss the move: Subscribe to TheStreet's free daily newsletter The rising costs of both materials and labor mean businesses have been raising prices to protect their margins. Meanwhile, the cost of living continues to rise, and consumers continue to tighten their budgets, with many reducing their discretionary spending on things like dining out or buying non-essential products and services like new clothing, accessories, and entertainment. Together, these factors have been eating into profits and cash flow, causing more and more businesses to find themselves unable to keep up with payments to their creditors-a situation that can quickly lead to a bankruptcy filing, and in some cases, insolvency, liquidation, and permanent closure. Below, we cover the most startling bankruptcy filings of 2025 so far-particularly those in the retail and dining industries. The vast majority have been of the Chapter 11 variety, which means they aren't necessarily a death sentence, and some of this year's filers have already emerged from bankruptcy proceedings. Dedicated customers of businesses still in bankruptcy court can take solace in the fact that even though their favorite restaurant or retailer fell too deep into the red, it may graduate from the restructuring process on healthier financial footing and eventually continue to operate as it had before. Here are this year's most startling corporate bankruptcies in reverse chronological order: Date: July 2Filing type: Chapter 11 Merit Street Media, a television network that produces programs featuring celebrities like Dr. Phil, Bear Grylls, and Steve Harvey, filed for Chapter 11 bankruptcy protection on July 2nd. The filing came just a little over a year after the company was founded by Dr. Phil in April of 2024. In the filing, Merit Street Media listed assets of between $100 million and $500 million and liabilities in the same range. A representative for the company told TheStreet that as part of its restructuring process, it is suing Trinity Broadcasting Network, one of its distribution partners. Date: June 30Type: Chapter 11 CMX Cinemas is a line of luxury bistro theaters at which moviegoers can order restaurant-style food and drinks. CMX's parent company filed for Chapter 11 bankruptcy for the second time in under two years on June 30th. 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Date: June 20 Filing type: Chapter 7 CaaStle is a fashion brand that worked with brands and retailers to rent their unsold inventory to consumers seeking particular pieces of clothing on a temporary basis (e.g., for a special event). CaaStle's Chapter 7 filing came less than three months after former CEO Christine Hunsicker resigned in the wake of a fraud scandal that resulted in the company losing over $500 million in previously promised funding. In the filing, CaaStle listed between $10 and $50 million in both assets and liabilities. It is unclear how many of the company's creditors will be made whole once the company finishes liquidating is assets. Date: June 9Filing type: Chapter 11 Caraway tea, a prominent importer and manufacturer of tea products, filed for Chapter 11 bankruptcy on June 9, listing $614,660 in assets and almost $2.7 million in liabilities. The company is a co-packer, meaning it works with brands that want to create and sell tea products by handling their sourcing, manufacturing, and distribution processes. Related: The best environmentally friendly SUVs according to Consumer Reports Date: May 29Filing type: Chapter 7 Intrepid USA, a large, Texas-based home care and hospice provider, filed for Chapter 7 bankruptcy on May 29, listing between $1 million and $10 million in assets and $88 million in liabilities. The company, which has been in financial trouble for years, first filed for bankruptcy more than 20 years prior in 2004, after which it was purchased by Lynn Tilton's Patriarch Partners, a firm that specializes in managing companies with debt issues. In 2024, however, it was sold to CenterWell Health Services and fined by the Department of Justice for submitting fraudulent medicare May 5Filing type: Chapter 11 Rite Aid, once one of the largest and best-known pharmacy retailers in the U.S., filed for Chapter 11 bankruptcy protection on May 5, less than two years after its previous bankruptcy filing in October of 2023. The brand emerged from its previous bankruptcy as a private company with ownership divided among its previous creditors after closing around 800 stores and selling off its pharma benefit subsidiary, Elixir. At the time of Rite Aid's filing on May 5, the company listed between $1 billion and $10 billion in both assets and liabilities. As of early July, over 1200 stores remained nationwide, but the company had already begun the process of closing them in waves. Date: April 28Filing type: Chapter 11 Nebraska Brewing Co., which operates a brewery and taproom in La Vista and also sells its beers to retailers, bars, and restaurants for resale, filed for Chapter 11 bankruptcy in late April. According to the brewery's leadership, the financial straits that led to the filing were spurred by supply chain issues and other economic pressures. Nevertheless, the company remains operational and hopes to emerge from the restructuring process and continue to serve its customers, according to a Facebook post. The filing listed assets of between $100,000 and $500,000 and liabilities of between $1 million and $10 million. Paul and Kim Kavulak, the brewery's majority owners, are among the creditors listed in the company's bankruptcy filing. Date: April 24Filing type: Chapter 11 Bertucci's Restaurant Corp., operator of a regional chain of pizza restaurants on the East Coast, filed for Chapter 11 bankruptcy for the third time on April 24. The company has been on shaky financial footing for years, having closed around half of its locations since its previous filing in 2022. Bertucci's continued to close stores after its latest filing, which listed between $10 million and $50 million in both assets and liabilities. The day before the filing, however, the chain opened a new, fast-casual "Pronto" location in downtown Boston. Date: April 14Filing type: Chapter 11 Consolidated Burger Holdings LLC, a large Burger King Franchisee that at its peak operated 75 of the chain's restaurants, filed for Chapter 11 bankruptcy on April 14. The Debtor, which did not cite a reason for the filing, listed $50 million to $100 million in both assets and liabilities. In late 2024, Consolidated Burger Holdings reached a settlement with Burger King Corporate after a longstanding legal dispute over its franchise agreement. Date: April 8Filing type: Chapter 11 Royal Paper, a manufacturer of toilet paper, paper towels, and other paper products, filed for Chapter 11 Bankruptcy on April 8, citing operational issues and supply-chain challenges as major contributors to its financial distress. Royal Paper produces store-brand toilet paper for stores like Aldi as well as its own brands, which include Earth First, SuperSoft, and EcoFirst. The company, which listed assets and liabilities of between $100 million and $500 million in its petition, entered a "stalking horse" agreement with Sofidel America Corp., another toilet paper company, in which the latter will purchase the former's assets for around $126 March 31Filing type: Chapter 11 Iconic American wing spot Hooters filed for Chapter 11 bankruptcy protection on March 31, listing between $50 million and $100 million in both assets and liabilities. As part of its restructuring process, the chain agreed to sell 100+ of its owned and operated locations to a group of buyers comprising two of the brand's largest franchisees, Hooters Inc. and Hoot Owl Restaurants LLC. Several months later, the chain announced that it would be closing 30 of its company-owned locations, including a number of restaurants in Florida and Georgia. Between the sales and closures of more than 130 corporate-owned stores, an increasing percentage of the brand's American locations will be owned and operated by experienced franchisees, including the company's founders. Date: March 31Filing type: Chapter 11 Gulf World Marine Park owner The Dolphin Company filed for Chapter 11 bankruptcy on March 31 after a string of dolphin deaths and allegations about water quality and the treatment of the facility's resident marine animals. At the time of the filing, the company listed assets and liabilities of between $100 million and $500 million. 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Bloomberg/Getty Images Date: March 16Filing type: Chapter 11 Budget fashion retailer Forever 21, once a shopping mall mainstay, filed for Chapter 11 bankruptcy for the second time in six years on March 16, citing increased competition from online fast fashion retailers like Shein. The filing listed assets of between $100 million and $500 million and liabilities of between $1 billion and $5 billion. At the time of the filing, the brand was hopeful to find a buyer for its stores, but one did not emerge in time, and all American Forever 21 locations have been closed permanently, although stores abroad were not affected. Authentic Brands Group owns the Forever 21 brand, so it is possible that it may find another licensee to operate the brand in the U.S. in the future. Date: March 14Filing type: Chapter 11 Hudson's Bay, iconic department store chain holding company and the oldest company in North America, filed for Chapter 11 bankruptcy protection on March 14, listing around $3.7 billion in assets and around $3.2 billion in liabilities. The company cited declining sales, competition from online retailers, and international trade issues as contributing factors to its financial decline. As the company sought a buyer, it shut down its stores and liquidated its inventory, but on May 15, the Canadian Tire Corporation agreed to purchase the brand's intellectual property for around $30 million. Date: February 27Filing type: Chapter 11 Texas-based gun manufacturer Watchtower Firearms filed for Chapter 11 bankruptcy on February 27, listing mounting debt, tax issues, and operational troubles as contributing factors in its decision to reorganize. At the time of the filing, the company listed between $10 million and $50 million in both assets and liabilities. Date: February 19Filing type: Chapter 11 Arizona-based EV and hydrogen-powered vehicle startup the Nikola Corporation filed for Chapter 11 bankruptcy on February 19, listing assets of between $500 million and $1 billion and liabilities of between $1 billion and $10 billion. The filing came just several years after the company's founder, Trevor Milton, was convicted of fraud for misleading investors about the nature of the company's products. The company is currently in proceedings to sell its assets under the supervision of the bankruptcy court. Date: February 2Filing type: Chapter 11 Liberated Brands, former retail partner of brands like Quicksilver, Roxy, Volcom, and Billabong, filed for Chapter 11 bankruptcy on February 2. The filing came after Authentic Brands Group, the owner of those brands, terminated its licensing agreement with the retailer. 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FALLON/Getty Images Date: January 15Filing type: Chapter 11 Iconic 82-year-old craft retailer Joann filed for Chapter 11 bankruptcy for the second time in less than a year on January 15. The brand had faced a sharp decline in demand since the COVID-19 pandemic waned, and by the time of the filing, it had accumulated over $600 million in debt. Its bankruptcy petition listed between $1 billion and $10 billion in both assets and liabilities. Unfortunately for crafters who prefer to shop in person, Joann began closing its remaining stores after its filing, and by the end of May, the final location had been closed permanently. Michaels, another brick-and-mortar craft supply destination, acquired some of Joann's intellectual property and private label brands, including the popular Big Twist Yarn. Date: January 8Filing type: Chapter 11 Surf9, a company that designs and manufactures products for a variety of outdoor equipment and apparel brands, filed for Chapter 11 bankruptcy on January 8. The move followed a dispute with Marquee Brands, the parent company of popular surf brand Body Glove, for which Surf9 manufactures paddleboards. The filing was also preceded by a recall on several of the company's paddleboard models, primarily sold at warehouse club Costco, due to drowning concerns. At the time of the filing, Surf9 listed under $50 million in both assets and liabilities. Related: The best 2025 cars under $25k based on Consumer Reports data The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
New York Post
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San Francisco Chronicle
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