Despite an outwardly polite virtual meeting of FDIC board members this week, a controversy is roiling just beneath the surface, with several board members questioning whether FDIC Chair Jelena McWilliams—a holdover from the prior administration—is “stonewalling attempts by the majority to set policy” on bank mergers - NYTimes and HuffPost and Law360
The nitty gritty of the Senate bill that raises the U.S. debt ceiling by $2.5 trillion—a “move to stave off the threat of a first-ever federal default until at least early 2023”—that passed thanks to a deal allowing a “one-time fast-track process” that only required a simple majority - NYTimes and Bloomberg and MarketWatch
Minnesota’s own 3M is joining its food-safety business with Neogen Corp (a food testing and animal healthcare company) “to create a combined company worth $9.3 billion, including debt.” Neogen’s current management team will run the combined company - WSJ and StarTribune
Workers at two Boston-based Starbucks seized on the historic vote of their Buffalo peers to unionize last week, filing on Monday with the National Labor Relations Board for union elections of their own - NYTimes and WSJ
More on the SEC’s “rare midtrial loss” in its insider-trading case against mortgage broker Christopher Clark, who the agency alleged traded “on insider information about the stock of an IT consulting firm where his brother-in-law worked” – Law360
The latest confirmation of our current price-increase reality came in the producer sector. The Labor Department’s producer-price index rose 9.6% as compared to last year, “the most since records began in 2010” - WSJ
Another nod from Elon means another shot in the arm for cryptos—this time, for the Dogers - WSJ
Unlike its merchandise, Sears is finding that the market for its real estate holdings and former retail space has been quite strong - NYTimes
Our “Yes, We’re Old” moment of the day comes with this revisiting of the New York of Wes Anderson’s mind on the occasion of the 20th (!) anniversary of the release of his epic “The Royal Tenenbaums” - NYTimes
Stay safe, and get boosted,
MDR
