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Murdaugh's Shocking Sentence, Liberty Media's MotoGP Takeover, UPS Replaces FedEx
Just reporting the facts.
Centrist Chronicle
April 03, 2024
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Yesterday, Alex Murdaugh, a former attorney from South Carolina, received a federal prison term of 40 years for swindling millions of dollars from clients and peers over several years. This hefty sentence, which far exceeds the duration proposed by the prosecution, will run simultaneously with two other state convictions: life imprisonment for the 2021 slaying of his spouse and child, and an additional 27 years for comparable economic offenses. Moreover, he is obligated to reimburse $8 million.
In a court session last September, Murdaugh, 55, admitted guilt to 22 counts of financial misconduct at the federal level, attributing his illicit activities to an opioid dependency. Investigations unraveled that the now-stripped lawyer misappropriated upwards of $8 million by either inflating fees or diverting settlement funds from his clients, among them a quadriplegic accident victim and an injured law enforcement officer. Authorities speculated that Murdaugh orchestrated the murder of his family members in a desperate attempt to elicit compassion while under scrutiny for his financial misdeeds.
This judgment finalizes the legal actions pending against Murdaugh.
Liberty Media, the American corporation that owns Formula One, has disclosed its acquisition of Dorna, the parent entity of MotoGP, assigning a valuation of €4.2 billion ($4.53 billion) to the premier motorcycle racing series, according to a MotoGP announcement on Monday.
Under the new ownership, Dorna is set to operate autonomously within Liberty Media's Formula One Group tracking stock framework, maintaining its headquarters in Madrid. The announcement confirmed that Carmelo Ezpeleta will continue his leadership role as Dorna's CEO.
UPS is set to become the main air cargo carrier for the United States Postal Service after the USPS and FedEx were unable to reach a new agreement. Historically, the USPS, which does not possess its aircraft, has relied on FedEx for the air transport of US Mail, Priority Mail, and Priority Express Mail since 2001.
The USPS has increasingly shifted its parcel delivery strategy towards ground transportation to cut costs, aiming for a 90% reduction in air transport expenses over two years, which is expected to save about $1 billion annually. The amount paid to FedEx by the USPS decreased to $1.7 billion in 2023 from $2.4 billion in fiscal 2020, reflecting this strategic shift towards ground services. FedEx has acknowledged it is adopting cost-reduction strategies, noting the conclusion of its USPS contract may affect numerous pilot positions.
UPS, recognized as one of the globe's leading parcel delivery firms, amassed $91 billion in revenue in 2023, which included $308 million from USPS-related activities. The details of the new agreement with UPS have not been made public. FedEx is set to maintain its domestic air transport services for the USPS until their existing contract concludes on September 29.