Good Morning. A company dodges charges, a vigilante tapes thieves to lampposts, and Warren Buffett quietly withholds billions. Three very different verdicts today, and almost none of them came from a courtroom.
We also cover JPMorgan's $10B defense bet, the shoe that won the NBA Finals, and 100 sights worth a road trip (forwarded this email? Join 523k readers).
TOP STORY TODAY
Buffett Ghosts Gates
For the first time in two decades, Warren Buffett is skipping his midyear donation to the Gates Foundation. The 95-year-old investor is waiting on a review of the foundation's ties to Jeffrey Epstein before deciding.
Buffett has donated roughly $48 billion in Berkshire shares since 2006, usually each June. He is now delaying until later this year, possibly his Thanksgiving letter, pending findings from the foundation's outside legal review, expected this summer.
His friendship with Bill Gates has cooled since the Epstein files dropped. Gates skipped Berkshire's May shareholder meeting for the first time in years. The foundation, which has given away about $110 billion, plans to sunset by 2045.
Formula Probe Dropped
The Justice Department has closed its criminal probe into Abbott Laboratories over a Michigan baby formula plant where deadly bacteria was found in 2022. Officials chose a civil settlement, despite some prosecutors believing they could charge the company.
The Sturgis plant's cronobacter contamination sickened four infants and killed two, worsening a national formula shortage. Inspectors flagged standing water and poor hygiene. The move reflects a 2025 order favoring civil penalties over corporate prosecution.
Abbott denies its formula caused the illnesses, noting genetic testing did not closely link plant samples to the infected babies. A related civil suit, joined by 31 states, alleged a culture of concealment. Settlement terms remain undisclosed.
Mexico’s Batman
An unidentified vigilante nicknamed Mexico's Batman has been taping accused bike thieves to lamp posts across Jalisco. At least five men have been found bound to poles with ratero (thief) scrawled on their foreheads.
The first case surfaced June 13 in Lagos de Moreno, where a man was found beside a sign accusing him of theft. Several victims appeared beaten, with cuts and bruises. Some had cat whiskers drawn on their faces.
No arrests have been made, though police identified two suspect vehicles. Prosecutors stressed the bound men remain victims of unlawful assault. Jalisco, the powerful CJNG cartel's stronghold, ranks among Mexico's worst regions for theft.
TOGETHER WITH SKECHERS
You Grew Up Wanting Air Jordans. This Is the Shoe Winning NBA Finals Now.
Growing up, there was one shoe every kid on the court wanted and most of us never got. The poster on the wall, the line outside the mall, the logo that meant you had made it…
Your kid is having that same moment right now. Except the shoe winning games today did not come from where you would expect. OG Anunoby wore Skechers Basketball to an NBA Finals win, the first player ever to do it, on a postseason-best 20.1 points a game.
The SKX Nexus and SKX Reign bring the traction, stability, and support that decide games, on the Comfort That Performs tech the brand is known for.
New name on the banner. Same dream on his feet.
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100 things to see in America
The whole world is here for the World Cup, and they're losing their minds over the stuff we drive past every week (best of, here). European fans are posting road-trip maps like modern-day Lewis and Clarks, gushing over Buc-ee's, free refills, and national parks most Americans have never bothered to visit.
So we built the list they wish they had. 100 things to see in America, two in every state, the kind of trip you keep saying you'll take once the kids are older.
Visitors are also loving Waffle House (in any state), so with that in mind…
Chef Sean Brock’s Waffle House order
The whole world just found Waffle House, with World Cup fans filming themselves in the booths at 2am. But James Beard winner Sean Brock (cookbook) got there first. He once sat with Anthony Bourdain and ordered like it was the French Laundry (video):
Pecan waffle, drowned in syrup.
A patty melt, split.
Eggs sunny side up.
Hash browns: “scattered, smothered, covered, chunked.”
That last line is the secret handshake. Scattered on the griddle, smothered in onions, covered in cheese, chunked with ham. The hill he'll die on: Heinz 57 over anything fancier. That's the lesson. Excellence was never the fancy room.
TRENDING
5 Stories
▲ JPMorgan commits $10 billion of its own capital to defense and national-security firms, eyeing $20 billion
▲ Cyborg cockroaches get 3D-printed scuba suits enabling underwater rescue scouting for up to three hours
▲ Small trucks revive as Ford, Ram and startups race toward sub-$30,000 pickups after a decade gone | Bezos’ truck
▲ Comcast splits into two public companies, spinning off NBCUniversal and Sky within a year
▲ Margin debt hits record $1.4 trillion, up 54%, as leveraged-ETF assets double to $220 billion
TOGETHER WITH TOP PROVIDER
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Fun Links
The ultimate “hot girl accessory” [WSJ]
Fireworks advice for pet owners [Blog]
Christopher Nolan’s confidence [Video]
Inner workings of a $50M fraud [Blog]
American pride is on the decline [Blog]
Coors just came out with a whiskey [Blog]
Everything you need for parenthood [Partner*]
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