Charlie Munger dies, Nikki Haley endorsement, and cheese caves.

November 29, 2023

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The influential network back by Billionaire Charles Koch is endorsing Nikki Haley for the Republican presidential nomination.

Why it matters: Americans for Prosperity — the political arm of the Koch network — has a nationwide coalition of activists and virtually unlimited funding to help Haley chip away at former President Trump’s commanding lead in the race for the GOP nomination.
What they’re saying: AFP said that they believe Haley has the best chance to beat Former President Donald Trump in the primary and President Biden in the general election. The network signaled earlier this year it wouldn’t support Trump in 2024 and that the country needs to turn the page on the past several years of leadership.
Moving forward: Haley has been rising in the polls following her strong debate performances, while Florida Gov. Ron DeSantis’ campaign has lost momentum. However, until now, Haley’s campaign has lacked resources to ensure her supporters turn out to vote. Through last summer and fall alone, AFP communicated with 6 million primary voters and plans to spend on new mail, TV and online ads backing Hailey.

Charlie Munger, the investing genius and Warren Buffett’s right-hand man at Berkshire Hathaway, has died at age 99.

Berkshire Hathaway said in a press release that family members of Munger informed the company that he died peacefully Tuesday morning at a California hospital. Details about the cause of death were not included.
A full life: Munger served in the Army in WWII before attending Harvard Law School. He had a successful law practice in LA and made his fortune in real estate before joining Buffett at Berkshire. In a statement Tuesday, Buffett said “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation.”
Empire builders: The pair grew Berkshire Hathaway into a multinational conglomerate that wholly owns brands like Geico and Dairy Queen and has massive stakes in Apple, Coca-Cola and other large public companies. The company is currently valued at nearly $800 billion.

An Virgin Atlantic passenger jet running on 100% Sustainable Aviation Fuel (SAF) successfully completed a London-to-New York Flight on Tuesday.

Details: The Boeing 787 burned a blend of 88% waste fats from cooking oil and 12% Synthetic Aromatic Kerosene made from plant sugars. Virgin claims that the fuel has 70% fewer emissions throughout its "lifecycle" – from production to combustion – compared to regular fuel.
Restrictions: Current regulations prohibit airlines from using a blend of more than 50% SAF on commercial flights as aviation authorities work to ensure these new fuels are safe to use in higher concentrations. No paying passengers were on the Virgin flight, and the airline had to apply for special approval in order to make the trip.
Money barrier: Despite the success of the test flight, SAF faces a big hurdle: it isn’t cheap. Current prices for the greener fuel can range from 1.5 to 6 times higher than standard jet fuel. However, climate change-based policies and tax incentives could help narrow the price gap.

Former South Carolina attorney Alex Murdaugh was sentenced to another 27 years in prison on Tuesday after pleading guilty to 22 state financial crimes. He is already serving two life sentences for the murders of his wife and son. (More)

All living former first ladies, as well as President Biden and first lady Jill Biden gathered with other political figures at a memorial service in Atlanta to honor the life of late first lady Rosalynn Carter. (More)

A cyber-attack has shut down Ardent Health Services’ emergency rooms in Texas, New Mexico, New Jersey and Oklahoma, forcing the organization to divert patients to other facilities. (More)

New Zealand has scrapped plans for a world-first generational smoking ban in order to fund tax cuts. The proposal would have made it illegal for people born after January 2009 to ever buy cigarettes. (More)

Hamas freed 12 more hostages while Israel released 30 Palestinian prisoners on the first day of the truce extension. Ten Israelis, including nine women and a 17-year-old, and two foreigners arrived in Egypt where they will be reunited with their families. (More)

Forty one Indian constructions workers were rescued form a collapsed highway tunnel where they were trapped for 17 days. (More)

U.S. stock markets closed higher on Tuesday (S&P +0.10%, Nasdaq +0.29%, Dow 0.24%). (More)

Nearly 4,000 U.S. car dealerships are urging President Biden to delay proposed emissions regulations aimed at making two-thirds of new passenger cars all-electric by 2032. They’re saying consumers aren’t interest and EVs are piling up on their lots. (More)

Uber announced a new partnership with London’s black cab taxis that will allow cab drivers to opt in to gain access to Uber trip referrals while riders can specifically request a trip in on of the black cabs via the Uber app. (More)

Florida State moved back into the top 4, and Ohio state dropped to No. 6 in the latest college football rankings. Georgia remained at No. 1, while Michigan and Washington round out the top 3. (More)

Former pro wrestler Tammy “Sunny” Sytch was sentenced to more than 17 years in prison for a DUI crash that killed a 75-year-old man in March 2022. (More)

Sean “Diddy” Combs has temporarily stepped down as chairman of his TV network, Revolt, amid multiple lawsuits against him alleging sexual abuse. (More)

The diabetes drug Mounjaro is more effective for weight loss than its popular competitor, Ozempic, in overweight adults, according to an analysis of real-world data. (More)

Amazon announced Q on Tuesday — its business chatbot powered by artificial intelligence. The company said Q can synthesize content, streamline day-to-day communications, and help employees with tasks like creating blog posts. (More)

A worldwide analysis of studies shows that walking quickly or striding is better for reducing your risk of type 2 diabetes than walking at a slower pace. Those who walked faster than 3.7mph lowered their risk by 39%. (More)

The Lebron James Museum opened in Akron, Ohio to honor the basketball superstar.

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