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The Morning Risk Report: Former USC Coach Pleads Guilty in Corruption Case |
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Tony Bland was fired in 2017 by the University of Southern California after he was arrested in a college-basketball corruption probe. PHOTO: MARY ALTAFFER/ASSOCIATED PRESS
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Good day. A former assistant basketball coach at the University of Southern California pleaded guilty Wednesday to conspiring to take bribes in exchange for steering top players to financial advisers and sports business managers.
Anthony “Tony” Bland was among four college assistant coaches arrested in September 2017 as a result of an investigation into alleged corruption in college basketball. His case was set to go to trial this spring. Mr. Bland pleaded guilty to one count of conspiracy to commit bribery. He faces a prison sentence of up to 12 months.
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He faced four counts, including soliciting bribes for himself from aspiring sports agent Christian Dawkins, arranging payments to the families of two players and conspiring to defraud USC by causing the school to provide scholarships to athletes who were ineligible under NCAA rules because their families had received bribes.
A lawyer for Mr. Bland, Jeffrey Lichtman, said the guilty plea “acknowledges an aberrant act in an otherwise law-abiding life.” Mr. Bland hadn’t intended to harm any players, Mr. Lichtman said, adding: “While the NCAA’s system of how it treats college basketball players is antiquated and broken, Tony’s actions still violated the law and he accepts that responsibility.”
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The Camp Fire engulfs a home near Big Bend, Calif., in November. PHOTO: JOSH EDELSON/AGENCE FRANCE-PRESSE/GETTY IMAGES
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Insurers Push Back Against Paying More for Their Own
Insurance |
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Massive storms, wildfires and other catastrophes wreaked havoc on communities, the economy and the insurance industry in 2018. But they won’t be enough to drive up many property-reinsurance prices in 2019, reports released Wednesday said.
In the past, large disasters would typically trigger a wave of price increases through the industry. But as negotiations for 2019 contracts progressed over recent weeks, insurers appeared less willing to pay reinsurers more for property-catastrophe coverage.
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Apple Makes Rare Cut to Sales Guidance |
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Apple Inc. lowered its sales forecast for its fiscal first quarter, a rare revision to its guidance, blaming slowing sales of smartphones and other devices in China.
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Tariff Exclusions for Certain Steel Imports Sow
Confusion |
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Steel importers are winning most of their requests for tariff exclusions for products they say they can’t find in the U.S., but the process is riddled with inconsistencies and procedural changes, manufacturers and importers say.
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Counterdrone Technologies Face Slow Ramp-Up at Airports
Globally |
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Fracking’s Problem: Oil Wells Aren’t Producing as Much as
Forecast |
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Thousands of shale wells drilled in the past five years are pumping less oil and gas than their owners forecast, raising questions about the strength and profitability of the fracking boom that turned the U.S. into an oil superpower.
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PG&E Is Sued Over 2013 California Wildfire |
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A California power-generating company sued PG&E Corp. for the utility’s role in a fire several years ago that destroyed one of its power plants, causing it more than $20 million in damages.
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Walt Disney began offering a new benefit--free college tuition at certain schools paid for by the company, up front and in full. PHOTO: MARK EADES/THE ORANGE COUNTY REGISTER/ZUMA PRESS
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Now Hiring, With Attractive New Perk: Free College
Degree |
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Some of America’s largest companies are proposing that a good job can lead to a free college education, reversing the norm that requires workers to get the degree before launching a career.
Walt Disney Co., Discover Financial Services and Yum Brands Inc.’s Taco Bell are among the high-profile employers sending front-line workers back to school, often paying the cost of tuition, fees, books and other expenses upfront and in full.
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Lumber Prices Collapse After Record-Breaking Rally |
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Four Feared Dead in Pacific Ocean Ship Fire |
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An office worker in Cajamar, Brazil. A popular weather app for Android asks users for much more than their location and tried to subscribe some Alcatel smartphone users in Brazil to paid virtual-reality services. PHOTO: DADO GALDIERI/BLOOMBERG NEWS
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Weather App Collects Too Much User Data, Security Experts
Say |
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A popular weather app built by a Chinese tech conglomerate has been collecting an unusual amount of data from smartphones around the world and attempting to subscribe some users to paid services without permission, according to a London-based security firm’s research.
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Tesla delivered 13,500 Model Ss in the fourth quarter. PHOTO: BRIAN MOLYNEAUX FOR THE WALL STREET JOURNAL
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Tesla Shares Sink on Model 3 Delivery Miss, Price Cut |
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Tesla Inc. reported Model 3 sedan deliveries that missed Wall Street’s estimates and said it would cut prices on all its vehicles, news that drove shares of the electric car maker down more than 8% on Wednesday.
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Roku, Taking Cues From Amazon, Adds Premium Subscriptions |
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Roku Inc. said it would allow users to buy pay-TV subscriptions through its TV- and movie-streaming service, in a manner similar to the way Amazon.com Inc. sells access to premium channels through its Prime Video platform.
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Qatar’s National Airline Buys Stake in Chinese Carrier |
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Qatar’s flagship airline acquired a 5% stake in a Chinese carrier as it considers expansion in one of the world’s largest aviation markets and continues to try to reduce the impact of a diplomatic and economic blockade imposed on it by its Arab neighbors.
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Blake Nordstrom, a Scion of Retail Dynasty, Has Died |
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Blake Nordstrom, an heir to the Nordstrom Inc. fortune who ran the department-store chain with his two brothers, died unexpectedly Wednesday, less than a month after he revealed he had been diagnosed with cancer.
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Activist Investor Launches Fight for Board Seats at MDC
Partners |
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FrontFour Capital Group LLC, a Connecticut hedge fund, has launched an effort to shake up the board of embattled advertising company MDC Partners Inc.
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New Barrick Gold Chief Looks to End Tanzania Dispute |
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Barrick Gold Corp.’s chief executive said he is optimistic the company will soon resolve a dispute in Tanzania that has idled most of its mining operations in the country. “We will find a solution,” CEO Mark Bristow said.
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