Good morning. Big "Hello, Goodbye" vibes today on our team. Let's start with the goodbye: Jamie, an OG who's been at the Brew since 2019, is moving on to exciting new opportunities. We'll miss her LOTR references, deep-cut anime recs, and eagerness to dive down any rabbit hole. At the same time, we're thrilled to introduce two new writers, Cassandra and Molly, who are bringing their Shohei Ohtani-level talents to the newsletter. Welcome to the show! —Jamie Wilde, Sam Klebanov, Neal Freyman, Abby Rubenstein | | | |  | Nasdaq | 12,084.36 | | |  | S&P | 4,109.11 | | | | | Dow | 33,586.52 | | | | | 10-Year | 3.417% | | | | | Bitcoin | $29,641.52 | | | | | Micron | $63.27 | | | | *Stock data as of market close, cryptocurrency data as of 3:00am ET. Here's what these numbers mean. | - Markets: Stocks kicked off the week mixed yesterday, with investors anxiously awaiting important inflation data tomorrow and the start of the corporate earnings season on Friday. Tech stocks faltered, but chipmakers like Micron Technology got a boost after Samsung announced that it would cut production to help bolster prices as the demand for semiconductors slows.
| | | | Francis Scialabba Pharma industry bigwigs are not fans of a Texas federal judge's ruling last week invalidating the FDA's decades-old approval of the abortion medication mifepristone—essentially banning its sale nationwide. Yesterday, over 300 biotech and pharma executives, including Pfizer CEO Albert Bourla, signed an open letter calling for the decision's reversal. - Judge Matthew Kacsmaryk ruled Friday that in approving the drug, the FDA "acquiesced on its legitimate safety concerns—in violation of its statutory duty—based on plainly unsound reasoning and studies that did not support its conclusions."
- The letter shot back that mifepristone "has been proven by decades of data to be safer than Tylenol, nearly all antibiotics and insulin."
This is about more than mifepristone The letter states that if courts can revoke drug approvals "without regard for science or evidence, or for the complexity required to fully vet the safety and efficacy of new drugs, any medicine is at risk for the same outcome as mifepristone." And if the industry can't rely on the FDA's approval, companies may be more reluctant to make investments in new drugs, the letter said. The pharma execs are not alone in seeing the potential for any drug to be un-approved by the courts. Legal experts have warned that controversial medicines—like the HIV preventative PrEP—could be next, and President Biden said Friday that if the ruling stands, no prescription "would be safe." But the legal battle is far from over…the DOJ has filed an appeal of Judge Kacsmaryk's ruling and asked the appeals court to put an emergency hold on the decision before it is slated to take effect this Friday. The government has also asked for clarification on how it can follow a contradictory court ruling, issued by a federal judge in Washington state soon after the Texas ruling came down, that barred the FDA from making mifepristone harder to get in 17 states. Looking ahead…all this legal wrangling over the drug's approval will likely end up before the Supreme Court.—JW, AR | | Luke Sharrett/Getty Images  At least five people were killed in a shooting at a Louisville bank branch. The shooter, a 25-year-old employee of the bank who was livestreaming the attack on Instagram, was also killed during a confrontation with police, according to law enforcement. Eight other people were taken to the hospital, police said. The shooting continues a disturbing trend of violence in the workplace. A recent study of mass shootings between 2016 and 2020 found that about half of all attacks were perpetrated at businesses, many by employees or customers.
 One ousted Tennessee lawmaker is already back. If you can remember as far back as last Thursday, you may recall that two Tennessee Democrats were expelled from the GOP-controlled state legislature for participating in gun reform protests. But one, Rep. Justin Jones, is already back in the statehouse, at least for now, after Nashville's governing council voted to return him to his seat as an interim representative. The other, Justin Pearson, may join him after the Shelby County Board of Commissioners meets tomorrow. Both also plan to run in the special elections for their old seats.
 The Covid national emergency is over. At least according to President Biden, who signed a bill yesterday ending the national emergency declaration put in place by former President Donald Trump in 2020 to free up federal funds to address the pandemic. The Republican-penned bill, which the administration had originally opposed, does not impact the public health emergency that will be wound down by May 11. And the government is not just declaring victory and walking away: The administration plans to pour $5+ billion into a program to develop new coronavirus vaccines and treatments.
| | | Tax Day is fast approaching, and it's easy to feel overwhelmed. But worry not! Follow these steps to take the stress-free fast track: - Take a deep, centering breath.
- Visit TaxAct.
- Snag unlimited access to tax experts throughout the filing process, including a quick review before you submit.
Wait, what? That's it?! That's it, friends. TaxAct makes individual filing a breeze with step-by-step guidance, a $100k Accuracy Guarantee, and a Maximum Refund Guarantee. You can rest easy knowing their calculations are 100% correct. Oh yeah, there's one more step: Do a happy dance once you've filed. Start with TaxAct today. | | Photo Illustration: Hannah Minn/ Photo: Getty Images In a high-stakes soccer match in Wales yesterday, Wrexham AFC defeated Notts County 3–2 to put them in the driver's seat for promotion to the next tier of British soccer. You might be thinking, "Hey, that's great for Wrexham, but I'm not sure when the Brew began covering lower-tier soccer in Wales." Well, this is no ordinary Welsh soccer team. The world's third-oldest professional soccer club, Wrexham is owned by Deadpool star Ryan Reynolds and It's Always Sunny in Philadelphia creator Rob McElhenney. The two bought the struggling club in 2020 for $2.5 million with the goal of returning the once-proud team to relevancy. They've done that and more. With their fame, Hollywood money, and marketing savvy, the American stars have elevated this soccer-mad industrial city to the global stage. - Reynolds and McElhenney created a documentary for FX called Welcome to Wrexham, which chronicles their experience as first-time sports team owners. Season 2 is in the works.
- Huge companies have scrambled to partner with the now-sexy Wrexham. That includes TikTok, whose logo is plastered on the front of the team's jerseys.
Big picture: Even if it gets promoted after this season, Wrexham has miles to go to be competitive with the larger British clubs. But McElhenney and Reynolds seem committed to the long haul: Reynolds just bought a home five miles from the stadium for ~$1.9 million.—NF | | | A knock-down success story. When Bowlero teamed up with the impact.com–Studio team to level up their brand awareness, things really got rolling. With organic and boosted content on Instagram and TikTok, this dream team bowled a near-perfect game with 4.4m total impressions. Check out the full case study. | | The Marvelous Mrs. Maisel/Amazon Prime Video via Tupperware The company that's been turning your Sunday dinner into Monday lunch for 77 years says its future is uncertain. Tupperware recently disclosed that it's struggling to stay afloat and has hired advisors to help find a way to stay in business, causing its stock to nose-dive almost 50% yesterday. How the company's fortunes spoiled After a brief surge in demand thanks to pandemic-era cooking (when everyone was eager to avoid losing their homemade tikka masala to spoilage), it's been struggling with declining sales. Unlike its signature plastic containers, Tupperware's business plan might not have been airtight. - For decades the company relied on its once groundbreaking strategy of having existing customers make sales at "Tupperware parties" in people's homes.
- Since it's unlikely anyone born after 1970 wanted to attend these ragers, it's been forced to work with retailers. It partnered with Target last fall in an effort to reach younger consumers.
But Tupperware has had a hard time convincing Gen Zers and millennials that it's more than an uncool brand that helped their parents feed them leftovers, and competition has been stiff. Looking ahead…Tupperware says it's trying to raise cash from investors and is looking into selling off some of its real estate. But, it's unsure if it'll be able to avoid bankruptcy.—SK | | Remy Gabalda/Getty Images Stat: If you want to make an omelette, you need to break a few eggs. Or, if you're a member of France's World Brotherhood of the Knights of the Giant Omelette, you need to break 15,000. All those eggs plus heaps of duck fat, herbs, and just the right amount of salt and pepper went into a 13-foot-wide frying pan (with a handle made from a telephone pole) yesterday to create a massive omelette—an Easter tradition now in its 50th year in the small town of Bessières. And despite recent spikes in egg prices, the omelette was, as always, handed out free to spectators in the spirit of fraternité. Quote: "We sometimes find $50m of assets lying around that we lost track of; such is life." The sudden collapse of FTX might have been a lot less surprising if you'd been privy to Sam Bankman-Fried's messages to his fellow execs. According to a report by the bankrupt crypto exchange's new management, SBF allegedly found the company's lack of proper accounting amusing. The report says he described the company's related hedge fund Alameda Research as "hilariously beyond any threshold of any auditor being able to even get partially through an audit" and joked about misplacing millions. Read: The legal history of the poop emoji. (The Verge) | | - The mother of the six-year-old who shot a teacher in Virginia has been charged with child neglect and recklessly leaving a loaded firearm so as to endanger a child.
- The Rutgers University faculty began a strike yesterday, with 9,000 people walking off the job after a year of unsuccessful contract negotiations.
- The Dalai Lama has apologized for a video that shows him kissing a young boy and asking him to "suck my tongue."
- Apple's shipments of Macs fell 40.5% year over year in Q1 2023 as people bought fewer computers, according to a new report.
| | We know filing your taxes can be a massive headache. That's why Money Scoop created the 2023 Tax Guide to make filing a bit easier. It breaks down tough topics, provides expert insights, and answers a bunch of hypothetical questions to help you out. Check out the guide. This editorial content is supported by TaxAct. | | Brew Mini: We haven't made this competitive in a bit, so if you want to beat Neal at the Mini, your benchmark is 30 seconds. Play it here. Trivia to help you get in shape We'll use just about any piece of news as inspiration for trivia, including the recent leak of highly classified information from a certain five-sided building. Here's the game: We'll give you an object found in the real world, and you have to name its shape. - Stop sign
- The Bass Pro Shops in Memphis, TN
- Honeycomb
- The British one-pound (£1) coin
- Superman logo
- UFC ring
| |  Is your HR team dreading tax season? HR Brew's guide provides expert tips to simplify the process and save time. Download now.
 Being a leader is a lot more than having a fancy title or getting a bigger paycheck. Our Leadership Accelerator is the fun and informative education you need to be the best leader possible. Don't miss our next cohort. Apply today.
 Hear from beauty industry legend and founder of Jones Road Beauty *drumroll* Bobbi Brown. Join us at The Brief to hear her discuss "Redefining the Beauty Industry."
| | - Octagon
- Pyramid
- Hexagon
- Dodecagon (12-sided)
- Pentagon
- Octagon
| | | Written by Neal Freyman, Jamie Wilde, Sam Klebanov, and Abigail Rubenstein Was this email forwarded to you? Sign up here. Take The Brew to work Get smarter in just 5 minutes Business education without the BS Interested in podcasts? | ADVERTISE // CAREERS // SHOP 10% OFF // FAQ
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