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Business Wire
07-07-2025
- Business
- Business Wire
Ortelius Issues Final Call to Action for Brookdale Senior Living Inc. Stockholders and Encourages a Vote for Urgent Change
NEW YORK--(BUSINESS WIRE)--Ortelius Advisors, L.P. ('Ortelius') today issued the following open letter to fellow stockholders of Brookdale Senior Living Inc. (NYSE: BKD) ('Brookdale' or the 'Company'), encouraging stockholders who have not yet voted to consider the current Board's abysmal performance, defensive tactics, dearth of responsibility, and questionable decision-making abilities. In its letter, Ortelius reaffirmed the need for urgent stockholder-driven change at Brookdale to restore accountability, begin the necessary turnaround, and unlock the significant value within the Company. The full text of the letter follows: Fellow Brookdale Senior Living Stockholders, At this critical juncture, Ortelius Advisors, L.P. ('Ortelius' or 'we') is seeking your support to elect our six highly qualified, independent director candidates to the Board of Directors of Brookdale Senior Living Inc. ('Brookdale' or the 'Company') at the upcoming Annual Meeting of Stockholders, scheduled to be held on July 11, 2025. THE BOARD HAS SPEARHEADED THE VAST DESTRUCTION OF STOCKHOLDER VALUE During the past seven years: Brookdale's stock price dropped 37%, and underperformed key benchmarks by 135 percentage points, and the Company's top two peers by 216 percentage points 1 Brookdale's tangible book value per share plunged 83%, from $5.49 to $0.93 2 Cumulative free cash flow imploded from $304 million in 2011 - 2017, to negative $660 million in 2018 - 2024 3 The leased portfolio's cumulative EBITDA - Capex was negative $731 million from 2018 to 2024, and the average annual adjusted EBITDA margin was a meager 1.0% 4 The Company's occupancy rate dropped from 85.2% to 79.4% 5, versus 88.8% to 87.2% 6 for the senior housing industry Referring to Brookdale's dismal results, Institutional Shareholder Services Inc. ('ISS') 7, in its June 18, 2025 report, commented: 'BKD has meaningfully underperformed the two largest companies in the industry, WELL and VTR.' 'The leased portfolio has underperformed and there are risks inherent in the company's long term leases…' '…the company has continually underperformed on an occupancy rate basis versus its peers since Q4 2021…' THE BOARD HAS ATTEMPTED TO SIDESTEP RESPONSIBILITY FOR ITS ABYSMAL PERFORMANCE Reacting to our March 5, 2025 letter to stockholders, which detailed the Company's abysmal performance and chronic undervaluation, the Board, on April 14 th, announced the departure of Cindy Baier, who immediately stepped down as CEO. In addition, the Board announced the formation of a CEO Search Committee, and the appointment of Chairman Denise Warren as Interim CEO, and the appointment of Mark Fioravanti, who was recommended by Ms. Baier, as a director. Ten days later, on April 24 th, the Board also announced the appointment of Joshua Hausman, who was recommended by Ms. Warren, as another director. When combined with last year's addition of Elizabeth Mace, who was also recommended by Ms. Baier, three new directors have been recommended by Ms. Baier or Ms. Warren, which is not emblematic of a well-functioning board that is seeking genuine refreshment and independent voices. THE BOARD IS DETERMINED TO MAINTAIN FULL CONTROL OF THE COMPANY Taking stock of Brookdale's corporate governance practices, ISS remarked: 'Beyond questions about the pace of refreshment, there is a pattern of directors and insiders referring new candidates, which raises more serious concerns about independence.' '… the board is now overseeing a pivotal CEO search process. Recent refreshment should have provided shareholders with assurance that the board is equipped to successfully handle this important task. Instead, three of the four new additions have connections to other directors and insiders. This unforced error has accompanied other developments that revealed ongoing concerns about succession planning in general, and raised questions about this process specifically.' '…the board was seemingly unaware of the opinions harbored by the company's largest shareholders about the former CEO, which only emerged during outreach after launch of the dissident's is difficult to conclude that the board has historically been proactive in this important area, which creates questions about whether the board is equipped to now run a successful [CEO search] process. These questions are only heightened by concerns with the board's own refreshment process.' '… it is evident that there were deficiencies in the succession planning process. This is reflected most clearly in the opinions expressed by the company's largest shareholders about the CEO, and in the positive market reaction to announcement of the change. Moreover, the positioning of the announcement in the midst of a proxy contest provides shareholders with a reason to interpret the development as a defensive maneuver…' and Glass, Lewis & Co. ('Glass Lewis') 8, in its June 27, 2025 report, stressed that: '...closer scrutiny suggests key elements of the Company's refresh – including what seems to be nominal involvement from the nominating and corporate governance committee and the continuation of an objectively atypical and functionally reactive CEO succession process – suggest fresh perspectives could be beneficial here.' '…notwithstanding the board's contention to the contrary, we believe Brookdale's contest tack – which includes the outwardly sudden and immediately effective termination of longtime CEO Cindy Baier with no heir apparent and the appointment of multiple new board members – very strongly correlates with Ortelius' involvement….and the Dissident's application of significant public pressure. Further, we note certain culpable members continue to serve on the board despite Brookdale's flat-footed refreshment process and decidedly less than laudatory long-term performance.' THE BOARD MUST BE HELD ACCOUNTABLE Regarding Board responsibility, ISS noted: 'Given the tenure and positions of Wielansky and Freed, they are arguably the most culpable among incumbent directors for the current state of affairs.' 'The dissident has presented a compelling case for change…' and Glass Lewis stated: 'Withholding votes from incumbent nominees Freed and Wielansky – Ms. Freed and Mr. Wielansky are, ex Ms. Warren, the longest serving members of the Brookdale board and thus the most readily accountable for the Company's comparatively poor long-term performance' 'Mr. Wielansky's purportedly valuable strategic insight and real estate expertise should, in the context of Brookdale's long-term arc, warrant particular scrutiny by investors, while Ms. Freed's experience seems to have very little crossover with the Company's core operations or ongoing strategic and financial initiatives.' 'Importantly, both directors have overseen significantly subpar shareholder returns during their respective tenures. We are further concerned that Ms. Freed, as chair of the nominating and corporate governance committee, has heavily deferred to the recommendations of current and former senior executives during Brookdale's recent board refresh, a tack which, taken together with the Company's muddled succession effort, reflects unfavorably on the fundamental efficacy of Brookdale's existing oversight architecture.' 'We further note Brookdale's shares experienced a one-day gain of 7.1% following announcement of Ortelius' current campaign (Ventas, Welltower and the S&P 400 gained 1.0%, 0.6% and 3.1%, respectively), suggesting that the Dissident's public involvement was viewed as a prospective catalyst for further value creation.' During Lee Wielansky's 10-year reign as a Brookdale director, the Company's stock price dropped approximately 80%. ORTELIUS' STRATEGY SHOULD BUILD, UNLOCK, AND MAXIMIZE STOCKHOLDER VALUE, AND IS MATERIALLY DIFFERENT FROM THE BOARD'S PLANS Following our April 24, 2025 letter to stockholders, which highlighted Ortelius' strategic plans to maximize stockholder value, the Board reacted again, announcing on May 15 th that it had 'established a clear and compelling strategy for creating shareholder value', which 'Brookdale's current Board and management team are already implementing'. We firmly believe that the Board's half-measures will not 'move the needle', and that Ortelius' strategy, as further described in our June 16 th letter, should build, unlock, and maximize stockholder value, and accelerate the process. Alluding to Ortelius' strategy, ISS asserted that: 'The dissident's plan follows a logical framework, in that shedding underperforming assets should provide an uplift to operating metrics.' Glass Lewis declared: '…we note central elements of Ortelius' plan critically rely on exiting Brookdale's existing portfolio of leased properties while concurrently monetizing the Company's underperforming owned assets, leaving Brookdale with an optimized pool of high-quality communities which would be expected to unlock significant value for investors.' and Egan-Jones Ratings Company ('Egan-Jones') 9, in its June 30, 2025 report, pronounced: 'The Company believes it will be able to grow its way out of debt. Divesting non-core assets does not appear to be an option under the current board and management. In our view, their optimism about improving BKD's average occupancy rate comes too late, especially considering the excessive cash burn and mounting debt. We believe the Ortelius nominees are correct that assets will need to be sold off to generate cash, to pay off debt, invest in improved facilities, and re-align its strategy as a pure play company.' 'The Company's financial performance presents significant concerns, primarily due to high leverage and poor operational efficiency. With debt-to-enterprise value ratios consistently average over 90% over the past five years, BKD is heavily reliant on debt. Revenue growth is being offset by the Company's persistently low operating margin. In our view, the Company's weak balance sheet limits its financial flexibility and means to restore profitability.' ORTELIUS' SIX NOMINEES ARE HIGHLY QUALIFIED AND INDEPENDENT In their July 3, 2025 letter to stockholders, Ortelius' nominees outlined their strategic plan, which included restoring Board accountability, recruiting the next CEO, rationalizing the portfolio, optimizing the platform, and rightsizing the balance sheet, while highlighting the need to act with urgency, integrity, and transparency, and being 'prepared to work hard and get into the details in a manner that is not typical for most boards'. Our candidates possess decades of relevant expertise in senior housing, real estate, executive searches, turnarounds, acquisitions/divestitures, capital markets, corporate finance, restructurings, stockholder communications, and senior management, and are well-equipped to oversee Ortelius' plan to build and unlock intrinsic value, and maximize stockholder value. Additionally, our nominees can provide leadership and ensure operational stability. On the other hand, NONE of the Company's directors has any senior housing or senior housing-related real estate experience. Addressing Ortelius' candidates, Egan-Jones stated: 'After reviewing available public information and engaging with both Brookdale's management team and Ortelius, Egan-Jones recommends shareholders vote FOR all six Ortelius nominees: Steven J. Insoft, Paula J. Poskon, Frank J. Small, Ivona Smith, Steven L. Vick, and Lori B. Wittman.' and Glass Lewis said: 'We believe both Ortelius candidates offer valuable senior housing and real estate expertise at a critical juncture, with particular attention to Brookdale's ongoing portfolio optimization efforts.' Ortelius remains deeply concerned about the Board's ongoing missteps, shortcomings, strategic failures, poor judgement, execution, decision-making abilities, and defensive maneuvers. Following years of dismal performance, chronic undervaluation, stock price declines, and the vast destruction of stockholder value, urgent and decisive action is crucial. IT IS TIME FOR MEANINGFUL, STOCKHOLDER-DRIVEN CHANGE AT BROOKDALE Your vote is important, no matter how many or how few shares of common stock you own. Ortelius urges you to sign, date, and return the WHITE universal proxy card today to vote 'FOR' the election of the Ortelius nominees and in accordance with Ortelius' recommendations on the other proposals on the agenda for the Annual Meeting. Sincerely, Peter DeSorcy Managing Member Ortelius Advisors, L.P. Additional Information Ortelius Advisors, L.P., together with the other participants in its proxy solicitation (collectively, 'Ortelius'), has filed a definitive proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission ('SEC') to be used to solicit votes for the election of Ortelius' slate of highly-qualified director nominees at the 2025 annual meeting of stockholders (the 'Annual Meeting') of Brookdale Senior Living Inc., a Delaware corporation (the 'Company'). Stockholders are advised to read the proxy statement and any other documents related to the solicitation of stockholders of the Company in connection with the Annual Meeting because they contain important information, including information relating to the participants in Ortelius' proxy solicitation. These materials and other materials filed by Ortelius with the SEC in connection with the solicitation of proxies are available at no charge on the SEC's website at The definitive proxy statement and other relevant documents filed by Ortelius with the SEC are also available, without charge, by directing a request to Ortelius' proxy solicitor, Saratoga Proxy Consulting LLC, at its toll-free number (888) 368-0379 or via email at info@ About Ortelius Advisors, L.P. Ortelius is a research-intensive, fundamental-based, activist-oriented alternative investment management firm focused on event-driven opportunities. ____________________________ 1 Bloomberg as of May 2, 2025 for the period February 21, 2018 to March 4, 2025. Returns are adjusted for dividends. The benchmark represents the average of S&P 500 Healthcare Index, Russell 3000 Healthcare Index, and Bloomberg Healthcare REIT Index total stockholder returns. The peers are Welltower Inc. and Ventas, Inc. 2 Tangible book value per share as of December 31, 2017 and December 31, 2024. Calculations use basic shares outstanding as of February 20, 2018 and February 17, 2025. Tangible book value is defined as total assets minus goodwill minus total liabilities. Tangible book value per share is defined as tangible book value divided by basic shares outstanding. 3 Free cash flow is defined as operating cash flow minus capital expenditures. Operating cash flow is net cash provided by operating activities per 10-K filings. Cumulative free cash flow is the sum of annual free cash flows for the period noted. 4 Brookdale Senior Living Inc., Brookdale Senior Living Supplemental Information, 2018 to 2024 quarterly documents. Revenue figures include other operating income. 5 Brookdale Senior Living Inc., Brookdale Senior Living Supplemental Information 4 Quarter 2017. Brookdale Senior Living Inc., Brookdale Senior Living Supplemental Information 4 th Quarter 2024. Senior housing occupancy per Brookdale. 6 National Investment Center for Senior Housing and Care (NIC), NIC MAP Vision. Overall senior housing combines majority IL and majority AL properties. Data for the Market Fundamentals is representative of the top 31 primary metropolitan markets. 7 Permission to use quotations from the ISS report was neither sought nor obtained. 8 Permission to use quotations from the Glass Lewis report was neither sought nor obtained. 9 Permission to use quotations from the Egan-Jones report was neither sought nor obtained. Expand
Yahoo
29-05-2025
- Entertainment
- Yahoo
American Banjo Museum offers free admission to Timberwolves fans after Minnesota article
OKLAHOMA CITY (KFOR) — You may have seen an article floating around from a local Minnesota newspaper that states NBA players don't like to spend a lot of time in Oklahoma City and the attractions aren't enticing unless they would like to visit the American Banjo Museum multiple times. Now, the museum is offering free admission to Timberwolves fans. 'It's obvious the author hasn't really seen Oklahoma City himself,' said Johnny Baier, a banjo icon and the Executive Director of the American Banjo Museum. Baier read the article in the Minnesota Star Tribune. It states, 'Visiting NBA teams don't like to spend a lot of time in Oklahoma not a city their friends and family may visit with them, and the attractions don't really entice them, unless somebody would really like to visit the American Banjo Museum multiple times.' OKC Mayor David Holt also read the story. 'If you're some lazy sportswriter and you don't want to leave your your room at the Omni and you just want to pop off about the Banjo Museum, you know, it makes good copy, but it's not reality,' said Mayor Holt. It's true, the American Banjo Museum is a good time and it's famous. Celebrities often visit. Just last Friday, Thomas Lennon, who played Lt. Jim Dangle on Reno 911, stopped by to play and visit. 'Eric Clapton was here,' said Baier. 'Tim Blake Nelson from O' Brother Where Art Thou?' Also, the elusive Steve Martin is very involved in the museum. 'He's become an ambassador for the museum donating instruments and loaning us things,' said Baier. Kermit the Frog has also visited multiple times. His video plays on loop. 'You know, I've been playing banjo since I was a tadpole, but I have never seen anything like this!' Mr. Green said during the video. OKC Stores preparing to sell new items pending Thunder victory Now, because of the article, the museum is opening up it's doors to Timberwolves fans for free. 'And if an Oklahoma City Fan comes and wants to get free admission saying they're a Minnesota fan, the karma train is coming!' said Baier. While the American Banjo Museum is a staple downtown, there's more to offer. 'I'd love to think the American Banjo Museum is the only thing that somebody would want to do, multiple times, but in reality there's a lot of stuff to do here,' said Baier. Chad Huntington, the CEO of the Bricktown Water Taxi, said in the later rounds of the playoffs he starts to see more visitors coming from other cities. 'You can stay busy for a week here,' said Huntington. He would know. His team tells tourists all about the city while sailing along the Bricktown Canal. 'There's also food scene, there is nightlife, believe it or not, which NBA players do find,' said Huntington. He also mentions theme parks, like the classic Frontier City and Hurricane Harbor, along with the new beach and waterslides along I-40 at Okana. Not to mention, white water rafting at Riversport OKC. 'I mean, we're bringing the Olympics to Oklahoma City via Riversport,' said Huntington. Huntington also mentions the plentiful museums, like the Oklahoma Museum of Art, Science Museum Oklahoma, First Americans Museum, National Cowboy and Western Heritage Museum, and of course the OKC National Memorial & Museum. 'If you come here with open eyes – you're going to walk away having a great experience,' said Baier. After the article, Baier sent in a response which the Minnesota Star Tribune published. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Euronews
26-05-2025
- Politics
- Euronews
German police call for further measures after spate of knife attacks
Following the latest violent stabbing attack at Hamburg central station on Friday, two of Germany's largest police trade unions are advocating for enhanced video surveillance, increased staffing, and additional controls to bolster law enforcement efforts. At least 18 people were injured after a 39-year-old German woman with a mental health condition attacked a group of people with a knife at the station during rush hour. The attack occurred despite the station being subject to a knife ban since December 2024, which fines anyone found carrying a bladed object with a €10,000 penalty. Police forces and experts are calling for different measures on top of a knife ban in response to the incident, which follows a spate of similar attacks, including one in Bielefeld the week prior in which five were injured. DPoIG national chairman Rainer Wendt argued on Monday that "modern video technology" must be used in areas with high crime rates. In addition, Germany's law enforcement would need "considerably more police forces and relief from non-prison tasks" to implement such technology, Wendt told Euronews. The problem is one of "capacity", according to Wendt. His comments echo those of GdP chairman Andreas Roßkopf, who advocated for placing surveillance cameras with facial recognition technology in so-called "crime hotspots" in the aftermath of the attack. Such cameras could "detect behavioural problems in advance," Roßkopf told the domestic press. In another interview, Roßkopf also called for police to be able to carry out increased checks without cause to tackle knife crime. A spokesperson for the German interior ministry said that after the latest incident, security would once again take a front seat. "Video surveillance is part of the concept. We are already testing AI-based video surveillance at Hansaplatz that detects conspicuous movement patterns," spokesperson Daniel Schaefer said. Experts agree that knife bans by themselves are not always impactful in combating crime — partly due to the difficulty in enforcing them in places such as busy train stations like Hamburg's, through which thousands pass daily. "Weapons ban zones in my view are not a sustainable approach to crime prevention," criminologist at the University of Zurich Dirk Baier told Euronews. "They rely too heavily on controlling and searching passersby." However, according to Baier, neither artificial intelligence nor increased police powers is a single solution to preventing more knife crime. "Knives can be inconspicuously carried in pants or jacket pockets, AI cannot detect that. And knife attackers only behave conspicuously at the moment of the attack, not beforehand," Baier said. Preventative work in schools and early detection are more effective, Baier believes. "Often, individuals who commit knife crimes have previously exhibited aggressive behaviour. The risk posed by such individuals must be identified earlier." DPoIG's Wendt said the family also plays a vital role in the prevention of violent knife attacks. "For young people, it is above all their families who are responsible. If education teaches that it is okay to carry knives, schools, playgrounds and all other public spaces become dangerous places," he said. "Parental responsibility must be emphasised more than before. They are responsible for ensuring that their children go to school unarmed. If necessary, sanctions must be used to make it clear to them that this is not a trivial matter," Wendt concluded. Knife crime has steeply risen in Germany over the past few years, with police statistics showing an almost 10% year-on-year increase in bodily assaults involving knives since 2023. Restrictions, such as those in place at Hamburg train station, were put in place after a mass fatal stabbing in the western city of Solingen in 2024, in which three people were killed.
India Gazette
17-05-2025
- Politics
- India Gazette
"Using trade to settle scores and make peace": Trump takes credit for role in India-Pakistan understanding
Washington DC [US], May 17 (ANI): US President Donald Trump has once again taken credit for the understanding reached between India and Pakistan on the cessation of hositilities. Speaking to Fox News's Bret Baier the US President claimed that he had used trade as a tool to make peace between India and Pakistan as the nuclear powered neighbours were on the brink of the conflict that was poised to become much more dangerous. Baier questioned Trump asked about his 'foreign policy successes' saying, 'You had a couple of foreign policy successes even right before this trip. You picked up the phone and called two nuclear powers, India and Pakistan, and you got them to step back from the brink. That was a success as you got on the plane heading over here.' To this Trump called the cessation of hostilities between India and Pakistan to be, 'A bigger success than I'll ever be given credit for.' He elaborated, 'Those are major nuclear powers... and they were angry. The next phase was probably tit for tat. It was getting deeper and more missiles. Everyone was stronger, to a point where the next one was going to be the N-word (Nuclear)'. Speaking about a potential nuclear conflict between the neighbours, Trump said, 'It's the N-word. That's a very nasty word in a lot of ways. The N-word used in a nuclear sense, that's the worst thing that can happen, and I think they were very close. The hatred was great. I said, we're going to talk about trade. We're going to do a lot of trade... I'm using trade to settle scores and to make peace.', he told Baier. The cessation of hostilities Trump referred to followed heightened tensions after Operation Sindoor, launched by India in the early hours of May 7. The operation targeted nine terror sites in Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK), in retaliation for the May 5 terror attack in Pahalgam. India and Pakistan reached an understanding on the cessation of hostilities on May 10. Trump had already welcomed the cessation of hostilities between India and Pakistan, saying that millions of people could have died if the peace had not been worked out. The US President was making a reference to a potential nuclear fallout between the two nations. (ANI)
Daily Mirror
17-05-2025
- Politics
- Daily Mirror
9 unhinged Trump moments in 24 hours as he says Ukraine cash was 'p****d away'
The President did an interview with a TV news channel - we'll let you guess which one - while he was out there, during which he said money given to Ukraine was "p****d away" Donald Trump arrived back in the US last night after a lucrative and eventful tour of the Middle East. He's (probably) sleeping off the jet lag, so has no public engagements planned for today. But that doesn't mean the MAGA machine has slowed down. The President did an interview with a TV news channel - we'll let you guess which one - while he was out there, during which he said money given to Ukraine was "p****d away". The confected outrage about James Comey's Instagram rumbles on unabated. And Trump ramped up his feuds with both Bruce Springsteen and Taylor Swift. Here's a roundup of all the most unhinged things that happened in Trump World overnight that you need to know about. And a couple of things you probably don't. 1. Trump doesn't believe what the secret service tell him about the attempt on his life In a weird moment during his interview with (who else?) Fox News' Brett Baier, Trump seemed to suggest he doesn't entirely trust his own secret service agents. He said he'd been briefed by officials on the assassination attempt in Butler, Pennsylvania - where a bullet grazed his ear during a campaign speech - but that he still has questions. Investigators found unusual activity on the assailant's phone, he told Baier. "Three apps. Very unusual apps. And two of them were foreign apps," he said. Trump told Baier he still doesn't have all the information about the incident. "But you're the President," Baier asked. "I know, I know," Trump mused. "I'm relying on my people to tell me what it is. You know we have deep-seated craziness in this country. And I'm relying on my people and so far..." He paused, before adding: "...and they're good." He went on: "So far - and in this case the Secret Service, they tell me it' But it's a little hard to believe to be honest, OK? "It's a little bit hard to believe as I get that throbbing feeling." Trump laughed and touched the ear that was grazed in the near-miss incident. "I get a throbbing feeling every once in a while... It's a little bit strange." 2. He said the money America gave to Ukraine was "p****d away" Trump is still clearly a little bit irked at having to help Ukraine defend itself from an illegal invasion by a foreign dictator - branding Volodymyr Zelensky the "greatest salesman in the world." "What bothered me, I hated to see the way it was - excuse me - pissed away. "I hated to see that cheques were sent for $60 million. I think Zelensky is the greatest salesman in the world. Far better than me. "Zelensky, he comes to Washington, he walks away with $100 million every time he came. "Now his abilities were shrinking because he only got $60 million." 3. He still thinks he can use the Trojan Horse plane straight away "I made a good deal," he told Baier of the free luxury jet Qatar has offered him. "We need a plane for a couple of years." Trump insisted the plane would be gifted to the US Air Force "for whoever is President", and would only transfer to his foundation when it was "decommissioned." But he then noted the plane is already 11 years old, and the actual new Air Force Ones being built by Boeing will be delivered pretty soon anyway. He's apparently starting to grasp that the reason the new AF1 models are taking so long is that it's not just a plane - it's an "incredibly complex" flying White House. But he hasn't followed that thought to its natural conclusion - which is that any plane he flies on has to be secured to the same level. In reality, it would take years - and cost tens of millions of dollars - to ensure the Qatari plane isn't bugged, booby trapped or filled with angry Greeks ready to invade the city of Troy. 4. Liberation Day 2: This time it's postal During a meeting with business leaders in the United Arab Emirates yesterday, Trump teased what is being called a "re-run" of Liberation Day - where he listed the wildly arbitrary tariffs he planned to impose on America's trading partners. You see, the reason the US has only struck one deal so far - with the UK - isn't that nobody is lining up to negotiate. No, no. It's that there's so many countries dying to negotiate that it's "not possible to meet the number of people that want to see us". "We have, at the same time, 150 countries that want to make a deal, but you're not able to see that many countries," he said. (There are a total of 195 countries in the world.) He didn't explain why that was stopping him making a deal with, you know, some of them. But anyway, the solution is easy. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will be sending out some letters. "At a certain point over the next two or three weeks, I think Scott and Howard will be sending letters out essentially telling people - it will be very fair - but we'll be telling people what they'll be paying to do business in the United States," he said. It's unclear whether these will be new tariffs, extra tariffs or whether they'll be tweaked at all from the ones set out on "Liberation Day". It's also unclear how the penguins are going to write back, lacking as they do, thumbs. 5. America got downgraded The US last night lost its last perfect credit rating. Moody's, the lone holdout maintaining a AAA rating for the States, downgraded the country one notch down to Aa1 - the level already set by Fitch and S&P. Moody's said in a statement the downgrade was influenced by "the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns." So not all Trump's fault - although he was in power for quite a lot of the last decade. 6. Never mind that, look how old Joe Biden is... In an apparent bid to distract from the unwelcome Moody's announcement, the White House apparently leaked tapes of Joe Biden's interview with Special Counsel Robert Hur during an investigation into his keeping classified documents at his home and former office. In his report, Hur concluded Biden was a "well-meaning, elderly man with a poor memory". The transcripts were published last year, but the Biden administration refused to release the tape, saying Republicans wanted to "manipulate it" for "potential political gain." Can't imagine what would give them that impression. Get Donald Trump updates straight to your WhatsApp! As tension between the White House and Europe heats up, the Mirror has launched its very own US Politics WhatsApp community where you'll get all the latest news from across the pond. We'll send you the latest breaking updates and exclusives all directly to your phone. Users must download or already have WhatsApp on their phones to join in. All you have to do to join is click on this link, select 'Join Chat' and you're in! We may also send you stories from other titles across the Reach group. We will also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose Exit group. If you're curious, you can read our Privacy Notice. 7. Comey Shell-gate somehow rumbles on The MAGAsphere is still screaming about a picture ex-FBI director James Comey posted, of some shells on a beach spelling out "86 47". Now, a bit of code breaking for you. Trump is the 47th President of the United States. For non-Americans, '86' is a casual term for removing, getting rid of or - very occasionally - killing something or someone. It's kind of a rhyming slang for "nix", although some have claimed it has a different etymology referring to the average size of a grave. What it's probably not is a suggestion that the President should be assassinated. Nevertheless, many performative MAGA types have chosen to interpret it that way and have accused the former FBI director of ordering a "hit" on the sitting President. Kentucky Republican Congressman went on (where else?) Fox News last night, accusing Comey of trying to "jizz up some kind of coup, some kind of insurrection." Which is funny, both because of the choice of words, but also because Comer visited people who took part in an actual attempted coup on January 6th in prison, and has branded the investigation into the violent incident as a "sham." Comey has deleted the Insta snap that sparked the furore - saying he had no idea the number 86 could have violent connotations. Nevertheless, Mr Comey - and also apparently his wife for some reason - have been questioned by the secret service. Tulsi Gabbard, the Director of National Intelligence has called for Comey to be jailed for "calling a hit" on the President while he was in the Middle East. And Trump himself has now weighed in, telling (who else?) Fox News: "He knew exactly what that meant. A child knows what that meant. If you're the FBI director and you don't know what that meant, that meant assassination. And it says it loud and clear." One wonders whether the President saw this even louder and clearer message his own FBI director Kash Patel posted online earlier this year, where he was shown in an AI video chopping up members of congress with a chainsaw. 8. Donald Trump does not like Bruce Springsteen Turns out the Donald is not a fan of the Boss. Especially, as it turns out, after the Greatest Living American branded the Trump White House "a corrupt, incompetent and treasonous administration" during a gig in Manchester. Trump, as you might expect did not take kindly to Springsteen's words. "I see that Highly Overrated Bruce Springsteen goes to a Foreign Country to speak badly about the President of the United States," he posted on Truth Social. "Never liked him, never liked his music, or his Radical Left Politics and, importantly, he's not a talented guy - Just a pushy, obnoxious JERK, who fervently supported Crooked Joe Biden, a mentally incompetent FOOL, and our WORST EVER President, who came close to destroying our Country." He went on to criticise Springsteen's skincare regime. "This dried out "prune" of a rocker (his skin is all atrophied!) ought to KEEP HIS MOUTH SHUT until he gets back into the Country, that's just "standard fare." Then we'll all see how it goes for him!" Bruce Springsteen, for the record, is 75 - three years younger than Trump. His concerts are legendary for their length - often lasting 3-4 hours and performing 25-30 songs - and his superhuman energy levels. Donald Trump, on the other hand, struggled to stay awake through a brief event in Saudi Arabia the other day. 9. Neither does he like Taylor Swift The President of the United States wrote on his Truth Social account yesterday: "Has anyone noticed that, since I said "I HATE TAYLOR SWIFT," she's no longer "HOT?" Again, Donald Trump is 78 years old.
