Mr. Giuliani’s Staten Island PI/Crim. Lawyer Says The Framed, Signed And Glass Encased Joe DiMaggio Yankees Jersey, Over His Old Mantle Is… “Exempt Wearing Apparel”?!

Okay, I don’t wish to go too far down this particular rabbit hole, but a new lawyer for Rudy overnight filed in Manhattan with USDC Judge Liman, to seek the return of several items already surrendered to the plaintiffs — (speciously) claiming some items are exempt from attachment, under Florida’s homestead laws.

For example, he’s now argued (for the first time!) he’s entitled to list the DiMaggio World Series worn jersey as “exempt wearing apparel” — under the judgment debtor’s “clothes off his back” exemption. Poppycock.

Rudy always treated it as high-art, or a collectible one-of-one, framed, in a glass case — above his fire-place [click to enlarge lower right image, and look above the left side image of the fireplace, closely]. The notion that he’s even ever going to squeeze his big belly in, to fit into a 1950s prime-era DiMaggio-slim jersey… is facially preposterous (and his even trying to do so would likely largely destroy the value of the piece). In any event, all his clothes cannot exceed $6,000 in value (in total) — and that jersey is likely over $100,000, all by itself. This is what is known (in my opinion) as openly bad faith — and vexatious — lawyering.

Next, this guy argues that the baby blue Mercedes is worth less than $5,500 — and must be returned under a New York vehicle exemption law — despite the fact that it was voluntarily turned over in Florida two days ago (with the title and keys). Again, under federal bankruptcy law, to prevail — Rudy will now have to argue that ALL the other watches, World Series rings and that Mercedes don’t exceed $6,000 in value (in the aggregate). This is (in Condor’s experienced opinion) simply impossible — to wit:

The problem with these silly arguments is that the applicable law allows one vehicle, not to exceed $5,500, in value — and this Mercedes, as Rudy constantly bragged, was previously owned by the late, great “Hollywood Golden Era” star… Lauren Bacall. Yep — that means it too will appraise out, at somewhere over $100,000, in all probability. [The lawyer also argues that for each of DiMaggio, the Mercedes, and the passel of watches, he gets a $5,500 credit, each — once sold. Nope. He owes (checks notes)… $148,000,000. Game over Rudy.]

Finally, any such arguments (by Rudy) were simply waived, once the turnover order was final — and most of all, after he handed over possession. The time for such specious nonsense is at an end. [If he did not keep his granddad’s watch out of the pile we showed last night — the plaintiffs could send it back to him, in good faith, as it is a relatively cheap watch — and won’t fetch much. But my hunch is that is the one watch he kept under the exemptions, for one watch, only — in his possession, post bankruptcy.] Onward.

Post Scriptum: both Hinderaker and Mirengoff agree that Gaetz won’t clear the Senate hearings… and it is unlikely Kennedy or Hegseth will, either. What a mess the regular GOP has made — by letting a malign, deluded, spray-tanned dotard run rough-shod over them — for a decade. Wow-ee.

Hilariously, Hayward thinks these will prove Tangerine’s “3D Chess” skillers. We know he’s had w-a-a-a-a-a-y too much… Ketamine. Out.

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Apparently, Some Blithering Idiot Spokesperson For Mr. Giuliani Made A Video Last Night… Showing The Watches & Rings, Being Fed Exed… Ugh.

And this feckless kook, one Ted Goodman, apparently yammered on for over a minute on x-itter, but I won’t link it — saying it is “an absolute disgrace” that Rudy’s “life’s work” — about twelve watches and two World Series rings — were being “stolen away” from him, under threats of force. He lauded what he called Rudy’s service to America. Yawn. He left out the part — of course! — where Rudy’s lies nearly got the women at right killed. And the part that the “threat” is in fact, an able federal judge’s regular court order, after a full trial on the merits.

He left out the part that these baubles will not remotely cover the $148 million, from a final court order that found him liable to them, after ruining THEIR lives. A pair of lives, given to civil service in Georgia for small wages. Acting as election judges, there. Rudy just flat-out made stuff up — sending violent MAGAts, in 2020, into a rage and “on a hunt”, for them.

Yes — we all have seen that play, before — thousands of times, in the past — in the South (and North, too). Black women, running for their very lives, from rabid whyte mobs… bent on vigilante action — the facts be utterly-damned. Ref. “Without Sanctuary” here.

So no, Mr. Goodman — I will hear zero tiny violins, for Rudy’s loss of his granddad’s watch (or that baby blue Mercedes once owned by Lauren Bacall). He brought it on himself — exclusively, with the foreseeable lawless mob actions — that would flow naturally. . .from his lies. Take a seat son. Out.

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Mpox Update — Per CIDRAP, Two More African Nations Have Seen Clade 1b Outbreaks… Tough News.

I think that makes 20 African nations, now dealing with the Clade 1b outbreak — over 52,000 people are viral hosts, and more than 36 are dead, on the continent. Tough news, to be certain.

And — it is simply… gob-smacking that, in 2024… “we, the people” (those of us who can read and understand peer-reviewed scientific studies) might have to conduct a national public outreach campaign, to educate and… persuade the potentially-incoming US Health Secretary… that vaccines SAVE LIVES. Dammit. [I still hold some hope that the less rabid GOP Senators will grow spines, and tank his — and Gaetz’s, and Hegseth’s — nominations.] The idea that a loony anti-vax billionaire might potentially set vaccine policies — for millions of school kids in America. . . literally sickens me.

In any event, here’s the still-unfolding Mpox story, from CIDRAP:

…New genetic sequencing results have now confirmed novel clade 1b mpox virus in recent cases from Zambia and Zimbabwe, signifying that the virus is now spreading in most of Africa’s regions, the head of the Africa Centres for Disease Control and Prevention (Africa CDC) said today.

During a weekly briefing, Africa CDC Director-General Jean Kaseya, MD, MPH, said the African region is still averaging about 2,800 new cases a week, “sending a clear message that mpox is not under control in Africa.”

Though the Democratic Republic of the Congo (DRC) has been the main hot spot, cases in Uganda continue to rise sharply, with 184 cases reported over the past week. The country is battling the clade 1b strain, with cross-border transmission and sexual contact the main drivers of its outbreak. An emerging concern is new clusters among sex workers….

For the Love of Pete… please people, wake your GOP Senators up (if you are afflicted with ’em). This Robert F. Kennedy, Jr. is a… loon. Damn.

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Rudolph W. Giuliani’s Lawyers Say Under Oath He Is Likely Pursuing A Lawless Course; And Ask To Resign, As Is Their Right — Under Applicable NY Prof. Resp. Law. Wow.

Well… who did NOT see this coming?! As we mentioned yesterday, the able USDC Judge Liman has mostly denied Rudy’s attempts to file under seal his defenses. We will see those shortly, as his lawyers prepared them over the weekend — and filed them in camera.

But this is the breaking news of the day, on his case in Manhattan — his lawyers are firing him, as a client. Here is the motion, from his own (soon to be former) lawyers:

…[A] lawyer may withdraw from representing a client when:…. (4) the client insists upon taking action with which the lawyer has a fundamental disagreement; … (6) the client insists upon presenting a claim or defense that is not warranted under existing law and cannot be supported by good faith argument for an extension, modification, or reversal of existing law; [or] … (7) the client fails to cooperate in the representation or otherwise renders the representation unreasonably difficult for the lawyer to carry out employment effectively[….]

The Giuliani Entities are required to respond to Plaintiffs’ information subpoenas today, and Standard USA LLC is required to respond by Friday, November 15, 2024. Text Order, November 11, 2024….

The guy… is likely headed… to jail, as soon as next week — for clearly doing things — things Tangerine cannot offer him a pardon for — even if Trump wanted to. Indeed, there is no indication of that sort of energy being spent, for just another guy Tangerine has dragged under, and then abandoned. Couldn’t happen to a nicer… guy, though — in truth.

Onward — and Martin Shkreli, also in Queens County, ought to be paying very close attention, here — as to his PleasrDAO matter, now.

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Merck Looks To Hedge Its Bets — If Ivonescimab, From Summit, Turns Out To Be An Immuno-Oncology Juggernaut. Plunks Down $588 Million In China.

This is a “play the field” bet, to be sure. Summit posted pretty impressive results for its similar ivonescimab candidate — in certain lung cancers, this past Summer. Both LM-299 and Summit’s candidate — beyond both being anti-PD-1 therapies — they also work on a peptide called VEGF, against the cancerous cells. [My prior June 2024 backgrounder — on Summit’s China-only study success, here.]

So… Rahway may pay up to $3.3 billion (on milestones) if the LM-299 candidate reaches its potential. In the mean time, Keytruda is the gorilla in the room. Here’s the latest, via Reuters reporting, this morning:

…[Merck & Co.] has licensed an early-stage cancer drug from a China-based biotech in an up to $3.3 billion deal, two months after a similar therapy from Summit Therapeutics outperformed its blockbuster Keytruda in a late-stage trial. . . .

The deal allows Merck to take over development of privately held LaNova Medicines’ LM-299, the companies said on Thursday. The drug candidate targets a protein called PD-1, which prevents the immune system from killing cancerous cells. It also curbs levels of another protein called VEGF, which can encourage tumor growth if found in excess….

Under the agreement, Merck will pay $588 million upfront. LaNova is also eligible to receive up to $2.7 billion in milestone payments.

In September, Summit — and its partner Akeso — released data that showed patients using their drug ivonescimab, which targets the same proteins, had significantly better survival rates than those on Keytruda. This class of drug has been attracting increased interest for deals. On Wednesday, German drugmaker BioNTech said it would acquire China’s Biotheus to gain access to its so-called bi-specific antibody that targets PD-1 and VEGF….

Now you know. Not really material at this point to Rahway — but if it pans out, it might very well become a nice add-on to the pembrolizumab franchise — a global $30 billion a year in peak sales, in a couple years.

Onward, smiling — as I took the plunge from an old 12 Pro, to update — to the iPhone 16 Pro, just this morning (and the “all bluetooth” setup / transfer interface worked flawlessly via AT&T!) — yep, it is pretty darn… slick!

नमस्ते

Elon Musk’s Malign Influence — On What Was Twitter… Guardian (UK) Says “Enough!”

I am certain Elon Musk doesn’t care that he’s becoming… increasingly viewed (globally) as a malign force. I am fairly certain that he thinks this is all just some silly video game — (an endless parade of insipid memes) like the sixth grader he emotionally forever remains.

Most of the adults, however, worldwide. . . I suspect, see it as The Guardian (UK) staff sees it:

…Yesterday we announced that we will no longer post on any official Guardian editorial accounts on the social media site X (formerly Twitter). We think that the benefits of being on X are now outweighed by the negatives and that resources could be better used promoting our content elsewhere.

This is something we have been considering for a while given the often disturbing content promoted or found on the platform. The US presidential election campaign served only to underline what we have considered for a long time: that X is a toxic media platform and that its owner, Elon Musk, has been able to use its influence to shape political discourse.

X users will still be able to share our articles, and the nature of live news reporting means we will still occasionally embed content from X within our article pages.

Our reporters will also be able to carry on using the site for newsgathering purposes, just as they use other social networks in which we don’t officially engage….

For whatever it is worth, for the last three years or so I have been cross posting the few things I do feel belong on the old Twitter/X, also to counter.social and to Mastodon. I agree with The Guardian – it is time to leave Musk’s bitter little hellscape. Not that my voice matters, there… but it. is. time.

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[U] Steve Hayward’s OWN CHARTS Establish Trump Only Won By “A Whisker”… Lost Popular Vote, Again, Too…

In three national election cycles, it seems pretty clear Tangerine was not favored by a majority of those who actually went out and… voted.

Not in 2016; not in 2020… and as the balance of the last 2 million or so ballots come in from largely blue districts in California… not in 2024, either.

So all of the nonsense over at Powerline, about mandates, or landslides… is just BS.

And Hayward is the bullshitter, in chief.

But the second, of his own charts, this afternoon, puts the lie to his prior crowing.

See at above right.

What a putz.

Update @ 10 PM CST: Hinderaker confirms Gaetz has very little chance of clearing a GOP Senate hearing unscathed on credible charges of transporting across state lines — to have sex with underage (boys and) girls, and illegal drug use. [But the MAGA moral indignation is only ever aimed at… Democrats, it seems.] End update.

In passing, I (too) doubt Matt Gaetz can be confirmed as the US AG… but we shall see.

If this Senate will confirm a Faux News talking head to be Secretary of Defense (never in our history has that cabinet level position been held by anyone not already at least a multi-star General — and this TV guy… was last an enlisted man, over two decades ago) — I guess any clown show in this circus… is possible.

Onward, grinning — what a pack of… dead-enders.

It Seems Rudolph W. Giuliani Will Claim He Was Only Acting In Georgia — As The Client (Tangerine) Ordered Him — To Avoid Paying $148 Million, For Defamation. Preposterous.

Welp. It could be that the able USDC Judge Liman in Manhattan will rule… that Rudy G. cannot hide what his client, presumably Donald J. Trump… ordered him to do, in regard to defaming the Georgia election workers, in the last (2020) cycle — if he is (preposterously) asserting that set of orders, as a basis for not paying (actually — not surrendering the DiMaggio No. 4 Yanks jersey, the World Series rings, the baby blue Mercedes… and the NYC Co-Op contents, and same from the Florida condo).

There are now two “no permission” briefs on file this morning, in Judge Liman’s courtroom. They are sealed from public, and even opposing counsels’ view (for the moment). I will confidently predict we will see at least redacted versions in a few weeks. The right of the people — and press — to monitor what the courts do, in their names… is nearly inviolate, so long as national security, etc. is not at stake.

And, after all, Rudy has already lost repeatedly on the merits: several courts have ruled he lied in defaming the election workers — and that he knew in real time he was lying about the actual outcome in Georgia (and elsewhere). [For this he’s been disbarred, in fact.] So do stay tuned, but here’s a bit of what Rudy’s lawyer tries to argue before Judge Liman this morning, to avoid placing the briefs on the public docket:

…Judicial documents, such as the Proposed Documents, are subject to a common-law, presumptive right of public access. A court will determine the weight of the presumption, which varies, in the particular case, over a “continuum[,]” depending on “the role of the materials at issue in the exercise of… judicial power[.]” Lugosch v. Pyramid Co. of Onandaga, 435 F.3d 110, 119 (2d Cir. 2006) (citing United States v. Amodeo, 71 F.3d 1044, 1049 (2d Cir. 1995)). The court will then “balance competing considerations against [the presumption,] such as the privacy interests” of the parties who propose sealing. Lugosch, 435 F.3d at 119-20 (cleaned up).

Here, the Proposed Documents do not go “to the Court’s core role in adjudicating a case[,]” Brown v. Maxwell, 929 F.3d 41, 50 (2d Cir. 2019), or “determin[ing] litigants’ substantive legal rights[.]” Lugosch, 435 F.3d at 121. They go, rather, to an exercise of judicial authority that “is ancillary to [that] core role[.]” Brown, 929 F.3d at 50. Accordingly, the weight of the presumption is “somewhat lower[,]” and the reasons for sealing “usually need not be as compelling as those required to seal[,]” for example, trial evidence or summary judgment filings. Id.; see Broidy v. Global Risk Advisors LLC, 2023 U.S. Dist. LEXIS 151536, at *10-11 (S.D.N.Y. Aug. 24, 2023) (involving motion to disqualify and citing cases involving discovery motions; holding that the presumption “is close to the ‘modest’ end of the spectrum[]” where motion “is not likely to affect the outcome of the case[]”)….

We respectfully submit the following: The Proposed Documents disclose confidential information within the meaning of Rule 1.6(a)—information that counsel has a duty to protect. Cf. Broidy, 2023 U.S. Dist. LEXIS 151536, at *16 (law firm satisfied Professional Rules by filing under seal). That conclusion, we believe, will be readily apparent to the Court when it reads the Proposed Documents. Counsel, however, stand ready to provide additional information or argument on the point, if the Court deems that necessary or helpful, or to have an ex parte/in camera conference with the Court. And, of course, counsel will make whatever disclosures or public filings that may flow from the Court’s ruling(s)….

Onward, grinning. What a mess Rudy has willingly let Tangerine make — of his personal, and professional, life. Tangerine destroys every honorable person he captures under his thrall (not that I am convinced Rudy was ever… honorable — after about 1984). Justice has taken… a very long time in, catchin’ up — to old Rudy (and his targeted selective prosecutions of largely innocent people of color in NYC from about 1985, onward). Wow.

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[U] And, Now… The Tangerine “Chuckle-Headed Nominees Show” Devolves… Into A Satire — Of Itself: Elon Musk Edition.

I am willing to bet that Elon Musk, the human (and Vivek, as well!) don’t really want to fill out all the intrusive disclosures required by 26 USC § 1604, et seq., on pain of felony charges — to lobby the United States government — specifically, the office of the preznit. See — if you are not an “agent” or head of a US federal government department, and you decide to even advise the Tangerine Dotard, that is… yep, being a lobbyist (since literally every single thing these two jamokes propose requires an Act of Congress, at a minimum).

An activity we the people are allowed to have quarterly disclosures about, under the Lobby Disclosure Act, at the office of Public Disclosure, inside the US Senate.

The whole goal here, by Elon, is trying to avoid any Senate “advice and consent” hearings, should Tangerine try to make him the head of a some new (or old) federal agency. He fears being questioned in public — about how little he understands of our system of ordered liberty. [This is so, because all he’s ever “learned” about it… is retweeting teenagers’ memes — on his X-itter platform.] You see, Elon’s SpaceX holds one of the largest federal contracts for space hauling, and receives (through Tesla federal electric vehicle tax subsidies) billions in aid, from federal and state governments. So he must… disclose.

~~~~~~~~~~~~~~~~~~~~

Yet and still, maybe John Hinderaker would like to encourage both Vivek and Elon to… first take the scalpel to Trump’s golf trips.

He traveled with a cast of hundreds, when he was preznit (and will do so, when he is agin’ preznit) — and he absolutely charges the very top rate, for every room at his dumps of clubs in Scotland and Ireland and Florida and New Jersey.

That was over $142 million dollars of federal cash spent AT TRUMP RESORTS, in just the first three years of his preznit-cy (and over $184 million, overall, for the four years).

Even John, hisself — as a purported leader of the frothy MAGA crowd, cannot resist a tongue in cheek flavor, in talking about a “federal department” — that is (purportedly) actually… outside of all government.

And, we call that…. per 26 USC § 1604 “lobbying”, out here, in the adult world — and these two billionaires will need to register with the Senate offices of disclosure to do ANY such work.]

An “outside of government” — independent overseer, of any competence — would say the first thing to get the axe should be… Tangerine’s federal “department” of… golf grifting.

Out.

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As Promised, Here’s Condor’s Assessment — Of A Fair Value, For Moderna’s Common Stock — As Of November 12, 2024…

To be fair, the Wall Street analysts are pretty deeply split, on their assessment of the company’s future. Leerink recently became the ultra-bear, dropping its 12 month target from $46, to $38. But most others are significantly north of that dour figure.

For example, BofA Securities values it at $90 (but down from $110, a quarter ago). And Oppenheimer places it at $125 a share. Moderna’s current market cap is just under $17 billion — with about 385 million shares outstanding. For the full year 2024, it will likely record total revenue of about $2.895 billion — so the shares are trading on the NASDAQ at just about six times sales. To put it another way, the price today only assumes it can sell the mRNA vaccines — of all stripes for six more years, at this pace. That is far too pessimistic, even with Pfizer and Merck offerings coming to market, to compete. You see, vaccines tend to sell at steady levels… for decades, not just six years (or so). So, this puts Moderna in the category of a much-undervalued stock, at today’s trading prices. I’d conjecture that a fairly conservative value… would be about 14 years of sales, or roughly a little more than double the trading price tonight.

All of that said, while Moderna won’t likely reach its COVID pandemic high water vaccine sales levels again in the near term (back when the shares were trading at almost $450, for a while)… the fundamental business remains very strong — and any material good news (like uptake on its RSV vaccine) at the bottom line, will cause a more pronounced spike in its NASDAQ stock price (since it is so much smaller than say Pfizer, GSK, Merck or Novo, comparatively speaking, on market caps). Sure, there are competitors — but this is a very steady state vertical.

Now, the specific question I was asked was whether any of these “majors” might buy up Moderna outright. I think that unlikely, since most of them already have collaboration agreements to share expenses and profits on various already on market mRNA vaccines. The most likely “majors” level acquirer would be Merck (strong balance sheet — and a cash flow juggernaut, in pembrolizumab)… but even with Moderna trading around $43.50 tonight, I’d be more inclined to bet on its organic earnings, now that its expense control has kicked in. [OTOH, my guess is that a buyer like Merck, should it emerge, would need to pay around $34 billion to get control of Moderna.]

Vaccines are a great business — just not the astronomical margins that pure pharma can command, since much of the bulk must be priced in a way that the developing world can afford. So, yes — Anon., I’d buy in at these levels, and trust that the market will fairly value Moderna at at least $85, in a year or so. We will update, a year from now.

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