Good Monday. (Was this email forwarded to you? Sign up here .) A new aerospace and military colossus emerges The proposed merger of United Technologies’ aerospace division and Raytheon Technologies creates a big new maker of aircraft engines, jets and missiles, Michael de la Merced of the NYT reports. And it could spur more mergers in the sector. Together, the two would have an estimated $74 billion in sales, and would produce F-35 fighter jets and Pratt & Whitney jet engines, which are used in Airbus airliners. United Technologies’ aerospace division and Raytheon would merge in a share swap, with the combined company being called Raytheon Technologies. Work on the deal began after United Technologies announced last November that it would split into three publicly traded companies: its aerospace division; Otis, which makes elevators; and Carrier, which makes heating and cooling equipment. Raytheon’s C.E.O. reached out to his counterpart at United Technologies … [Read more...] about DealBook Briefing: Meet the New Defense Industry Giant
Brief meeting
DealBook Briefing: Meet McKinsey’s Secretive Investment Fund
Good Tuesday morning. Breaking: Karl Lagerfeld, the influential fashion designer and longtime creative director of Chanel, has died at 85 . (Was this email forwarded to you? Sign up here .) Did McKinsey sell advice with a stake in the outcome? As McKinsey & Company advised some of the biggest companies in the world, the NYT reports, it may have had a vested interest in the outcome, through a little-known in-house hedge fund that holds stakes in some of the firm’s clients. Little about the fund, the McKinsey Investment Office, is public. A large part of its approximately $12.3 billion in holdings is “concealed behind a tangle of shell companies in an island tax haven in the English Channel,” the NYT reports. As a result, “any intersections between McKinsey’s consulting work and the fund’s investments are largely hidden.” The office took a stake in Valeant, the drug maker that was advised by McKinsey and is accused of improperly … [Read more...] about DealBook Briefing: Meet McKinsey’s Secretive Investment Fund
Barr describes his meeting with Trump in 2017
Washington (CNN)William Barr, President Donald Trump's nominee to be attorney general, on Tuesday described a 2017 meeting with Trump about possibly representing him as a personal attorney. At his Senate confirmation hearing, Barr detailed how the meeting came about. David Friedman, the US ambassador to Israel, approached Barr, the nominee testified. Barr responded that at the time, he "didn't really want to take on this burden." However, Barr said he went and met with Trump, to whom he gave his phone number and did not hear from until he called about the position of attorney general. Read the full exchange: Read More Barr: "Yeah, so in June of 2017, middle of June, Ambassador David Friedman, who is the US Ambassador to Israel -- who I didn't know, I knew that he was top tier lawyer in New York, and apparently a friend of the President's. "He reached out to me and we talked one evening and he said that he -- well, my understanding was, he was interested in finding lawyers … [Read more...] about Barr describes his meeting with Trump in 2017
Save Dumser’s petition takes center stage at Ocean City council meeting
A local effort to preserve an iconic Dumser's Dairyland ice cream parlor took center stage during public comments at the Ocean City council's otherwise brief meeting. Speaking in favor of the preservation of the historic building Tuesday was Vicki Magin, an administrator for the “Save Dumser's on the Inlet and Nathan's building in Ocean City,” Facebook group. As a 48-year area resident, she felt obligated to preserve the location, she said. Magin helped start a change.org petition on Aug. 18, which collected more than 10,100 signatures. The petition was presented before the council at the meeting Tuesday. "As we speak, the number of signatures and public support continues to grow," she said. "They want this piece of Ocean City's iconic history to stand and operate as it is." The signatories come from all over the country, Magin said, although she couldn't immediately quantify how many came from the town itself. The Dumser's location — one of the … [Read more...] about Save Dumser’s petition takes center stage at Ocean City council meeting
Toms River officials meet with lawyer to figure out religious land-use laws
TOMS RIVER - Members of the township's Board of Adjustment and Planning Board met Wednesday with Marci A. Hamilton, a lawyer who is a specialist in religious land uses. Hamilton, who was hired by the township in August, is the Resident Senior Fellow at the University of Pennsylvania's Program for Research on Religion, and an expert on the federal Religious Land Use and Institutionalized Persons Act (RLUIPA). She will be paid a maximum of $50,000 to review and, if necessary, recommend revisions to the township's land-use code, "so that it both respects our development objectives and the rights of religious groups under RLUIPA," Administrator Don Guardian has said. Discrimination suit: Jackson rabbi files discrimination lawsuit against Westlake adult community Did town block Orthodox expansion?: NJ town denies illegally blocking Orthodox Jewish group’s expansion RLUIPA is a federal law that prohibits governmental entities from … [Read more...] about Toms River officials meet with lawyer to figure out religious land-use laws