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Tag: MultimillionDollar
AEP pays multimillion-dollar fine for role in Ohio HB6 scandal
American Electric Power has reached a multimillion-dollar settlement regarding a federal investigation into its role in the state’s House Bill 6 scandal.
AEP helped bankroll former Ohio House Speaker Larry Householder’s return to power and donated $500,000 toward a plan to give him another 16 years with the speaker’s gavel. AEP’s then-CEO met with Householder over lunch to hash out the plan, according to a settlement filing with the U.S. Securities and Exchange Commission.
The Columbus-based power company announced on Friday it will pay a fine of $19 million to the SEC. This follows a November announcement to investors it had set aside that sum for potential claims tied to the investigation.
“AEP fully cooperated with the SEC throughout this process and previously implemented additional safeguards in this area,” the company said in its Friday release. “Resolving this issue is an important step for AEP. We look forward to putting this matter behind us and fully focusing on making needed investments to enhance the service we provide to our customers.”
AEP previously acknowledged that it received two sets of subpoenas from the SEC, one in May 2021 and the second in August 2022, tied to the legislation. The bill was meant to provide a $1.3 billion bailout of the state’s two nuclear power plants and continue subsidies on two coal-fired power plants, including one in Indiana, the Dispatch previously reported.
The bailout of the nuclear plants was later repealed, but the subsequent criminal investigation led to charges being filed against several people, including Householder. AEP has not been charged criminally in the case. Householder was sentenced to 20 years in prison, while former Ohio Republican Party Chairman Matt Borges was sentenced to five years.
More:Former FirstEnergy executives face federal charges in massive bribery scheme
AEP’s donations to Empowering Ohio’s Economy Inc.
A Dispatch investigation found that AEP contributed $350,000 to a group called Empowering Ohio’s Economy Inc. that became part of the criminal case.
Empowering Ohio’s Economy gave $150,000 to a group called Generation Now, which also received $60 million from interests related to Akron-based FirstEnergy to get the legislation passed. FirstEnergy is the former owner of the plants.
According to the SEC’s order, AEP controlled Empowering Ohio’s spending and did so to “further American Electric Power’s own interest.” It said Empowering Ohio contributed a total of $1.2 million to organizations associated with Householder.
The order also noted that in March 2020 an AEP employee and the company’s then-CEO Nicholas Akins met with Householder for lunch at AEP headquarters. At that meeting, Householder discussed an initiative to revise Ohio political term limits that would have allowed Householder to remain speaker for an additional 16 years.
After the meeting, Akins suggested the company consider whether Empowering Ohio should support the initiative.
“A few weeks later, at the direction of the American Electric Power Employee, Empowering Ohio contributed $500,000 to a newly-created 501(c)(4) organization associated with Householder to support the term-limit initiative,” the order stated.
In its Friday release, AEP stated that the SEC found the company violated federal securities laws in connection with its relationship with a “social welfare organization.”
REQUIRED READING:AEP hopes to resolve federal investigation into House Bill 6 role as it seeks new CEO
The American Electric Power Company (AEP) has been ordered to pay a multimillion-dollar fine for its involvement in the Ohio House Bill 6 (HB6) scandal. The scandal, which rocked the state’s political landscape, involved bribery and corruption related to the bailout of two nuclear power plants.AEP, one of the largest electric utility companies in the United States, was found to have played a significant role in the scandal by providing financial support to individuals and organizations involved in the bribery scheme. As a result, the company has been fined millions of dollars and is facing further legal repercussions.
The fine imposed on AEP serves as a stark reminder of the consequences of corporate corruption and unethical behavior. It also highlights the importance of holding powerful companies accountable for their actions and ensuring transparency and integrity in our political system.
This development will undoubtedly have far-reaching implications for AEP and other companies involved in similar scandals. It also serves as a warning to those who seek to manipulate the political process for their own gain.
As the fallout from the HB6 scandal continues to unfold, it is crucial that all parties involved are held accountable and that steps are taken to prevent similar incidents from occurring in the future. Only through strong enforcement of laws and regulations can we ensure a fair and just society for all.
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#AEP #pays #multimilliondollar #fine #role #Ohio #HB6 #scandal
Jennifer Lopez’s Apparent Response To Bruno Mars’ Extortionate Multi-Million-Dollar Performance Fee Couldn’t Be More Real
Jennifer Lopez apparently refused to pay Bruno Mars’ “ridiculous” multi-million-dollar fee to perform at her wedding to Alex Rodriguez.
For reference, Jen and Alex got engaged in March 2019 after two years of dating, but they didn’t actually tie the knot before their split in March 2021.
Still, celebrity wedding planner Marcy Blum has said that Jennifer was in the process of planning her and Alex’s wedding before they called the whole thing off — and she had a very specific performer in mind for her big day.
Frazer Harrison / Getty Images
According to Marcy, Jennifer was interested in having Bruno perform — but changed her mind once she heard his extortionate price tag.
Speaking on The Skinny Confidential Him & Her Podcast, Marcy explained that she is able to speak openly about her time working on this particular A-list wedding because she didn’t sign an NDA.
Recalling her experience on the pod, Marcy revealed that Jen enquired about hiring Bruno to sing at some point during her day, and Marcy told the star: “We just worked with him, and he’s five.”
“Million?” podcast host Michael Bosstick asked. “Just to perform for the night?”
“The night?!” Marcy responded. “You get 45 minutes, you get an hour.”
Rich Fury / Getty Images for The Recording Academy
And, according to Marcy, Jen was just as shocked as Michael by this extortionate expense, with the wedding planner recalling the bride-to-be telling her: “Don’t be ridiculous” when she was told how much Bruno would cost.
Gilbert Flores / Variety via Getty Images
While Jennifer and Alex didn’t end up making it down the aisle, Jen did marry Ben Affleck in July 2022 after they rekindled their ‘00s romance the previous year.
Notably, Bruno did not perform at this ceremony, and Jen and Ben confirmed they had split in August of this year.
Meanwhile, Marcy did book Bruno — who has a reported net worth of $175 million — to perform at another lavish wedding in September 2021.
The “24k Magic” singer was the entertainment at socialite Troy Brown’s wedding to Kristin Ryan in Cape Cod, with Troy the son of Motorola CEO Greg Brown.
Axelle / FilmMagic
Speaking on the podcast, Marcy also gave some tips for other couples thinking of booking a famous performer for their wedding day as she advised against hiring a star for the first dance because it’ll steal attention away from the bride and groom.
“You would never have a headliner, if you were sane, as the regular entertainment,” she explained. “No one wants to do their first dance — or maybe they do, but they shouldn’t — to Coldplay or something. That’s just dumb.”
“You want a band band and maybe a DJ,” Marcy went on. “And then maybe you want 45 minutes of Chris Martin or Elton John or whomever you want. Because otherwise, it’s all about them.”
The Skinny Confidential / Via youtube.com
Neither Bruno or J.Lo have commented on Marcy’s recent revelation, and BuzzFeed has contacted their reps for comment.
In the meantime, what do you make of Bruno’s hefty price tag?
More on this
Jennifer Lopez doesn’t hold back when it comes to calling out Bruno Mars for his sky-high performance fees. In a recent interview, the pop icon didn’t mince words when asked about Mars’ reported multi-million-dollar fee for live performances.“It’s just ridiculous,” Lopez said. “I mean, we all want to get paid for our work, but there’s a line, you know? Charging that much money just to perform a few songs? It’s not fair to the fans who support us and deserve to see us live without breaking the bank.”
Lopez’s comments have sparked a debate in the music industry about the ethics of charging such exorbitant fees for live performances. Some argue that artists should be compensated fairly for their work, while others believe that charging millions of dollars for a show is simply excessive.
Regardless of where you stand on the issue, one thing is clear: Jennifer Lopez isn’t afraid to speak her mind and call out what she sees as unfair practices in the music industry. And for that, we can all admire her realness.
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- Jennifer Lopez
- Bruno Mars
- Performance fee
- Extortion
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#Jennifer #Lopezs #Apparent #Response #Bruno #Mars #Extortionate #MultiMillionDollar #Performance #Fee #Couldnt #Real
Your Multimillion-Dollar Exit: The Entrepreneur’s Business Success(ion) Planner: A Blueprint for Wealth Guide
Price: $20.99
(as of Dec 23,2024 20:38:39 UTC – Details)
Publisher : Houndstooth Press (April 26, 2023)
Language : English
Paperback : 400 pages
ISBN-10 : 1544539908
ISBN-13 : 978-1544539904
Item Weight : 1.29 pounds
Dimensions : 6 x 1 x 9 inchesCustomers say
Customers find the book’s advice practical and detailed. They describe it as a useful and accessible read for business owners. The writing style is clear and well-written. Customers appreciate the organized approach that provides a structure for management in their absence.
AI-generated from the text of customer reviews
Are you an entrepreneur dreaming of a multimillion-dollar exit for your business? Do you want to ensure that your hard work and dedication pay off in the form of a lucrative payday? If so, then it’s time to start planning for your business success(ion) with our comprehensive guide: Your Multimillion-Dollar Exit: The Entrepreneur’s Business Success(ion) Planner.In this blueprint for wealth guide, we will walk you through the steps you need to take to maximize the value of your business and secure a successful exit strategy. From identifying potential buyers to structuring the deal and navigating the complexities of due diligence, we will provide you with the tools and resources you need to make your exit a profitable one.
Whether you are just starting to think about selling your business or are actively preparing for a sale, this guide is a must-read for any entrepreneur looking to cash in on their hard work and dedication. Don’t leave your financial future to chance – start planning for your multimillion-dollar exit today with Your Multimillion-Dollar Exit: The Entrepreneur’s Business Success(ion) Planner.
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The SaaS Playbook: Build a Multimillion-Dollar Startup Without Venture Capital
Price: $0.99
(as of Nov 25,2024 14:34:33 UTC – Details)
Customers say
Customers find the book very thorough and practical, offering actionable steps. They say it’s clearly rooted in applicable experience and filled with nuggets of wisdom. Readers also describe the book as an easy read.
AI-generated from the text of customer reviews
In this post, we will explore how to build a successful SaaS (Software as a Service) startup without relying on traditional venture capital funding. Many entrepreneurs believe that securing millions of dollars in funding is the only way to grow their business, but there are alternative methods to achieve success.1. Bootstrapping: One way to build a multimillion-dollar SaaS startup is to bootstrap your business. This means using your own resources, such as savings or revenue from early customers, to fund your growth. By being financially disciplined and focusing on generating revenue from day one, you can avoid the pressure of needing to raise outside capital.
2. Focus on customer acquisition: Instead of pouring money into marketing and sales efforts, focus on acquiring customers through targeted outreach, partnerships, and referrals. By building a strong customer base and providing exceptional service, you can create a sustainable growth engine for your business.
3. Leverage technology: Use technology to your advantage to streamline operations, improve efficiency, and scale your business. By investing in the right tools and platforms, you can save time and resources, allowing you to focus on building a valuable product for your customers.
4. Build a strong team: Surround yourself with a talented team of individuals who share your vision and are committed to the success of the business. By hiring the right people and empowering them to make decisions, you can build a strong foundation for growth and success.
5. Focus on profitability: Instead of chasing growth at all costs, focus on building a profitable business that can sustain itself in the long run. By carefully managing expenses, pricing your product effectively, and reinvesting profits back into the business, you can create a solid financial foundation for future growth.
By following these strategies and staying focused on your goals, you can build a multimillion-dollar SaaS startup without relying on traditional venture capital funding. With determination, hard work, and a clear vision, you can achieve success and build a business that will stand the test of time.
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