EXCLUSIVE I worked for the sugar daddy website used by Matt Gaetz's predator friend... what I saw disgusted me READ MORE: 'My sugar daddy scammed me!' App users warned of fake suitor By LAURA PARNABY FOR DAILYMAIL.COM Published: 14:43, 24 November 2024 | Updated: 14:56, 24 November 2024 e-mail 3 View comments Luxury dating app Seeking Arrangement was known for being the go-to place to snag a 'sugar daddy' - or a seedy online playground linked to sex trafficking and Matt Gaetz , depending on who you ask. Longtime former employee-turned-whistleblower Brook Urick, who started out as a sugar baby and eventually became a poster girl for the website, claims it's the latter. She recently released a book about her experience, called 'Wink Wink Nudge Nudge: Sexual Exploits and Secrets from Inside a Sugar Daddy Website'. It makes allegations about the site, which has more than 46 million users and was founded by Brandon Wade - a thrice-married Singaporean-American businessman who once said that 'love was a concept for poor people'. The site made headlines in 2021 for apparently being tied to alleged sex trafficking by several men including Donald Trump 's former choice for attorney general, Gaetz , and his associate, tax collector Joel Greenberg. While Gaetz and the company denied that he'd ever been a user, Greenberg pleaded guilty to underage sex trafficking, wire fraud, stalking, identity theft, producing a fake ID card and conspiring to defraud the US government . Prosecutors argued that Greenberg, who was later sentenced to 11 years, had met the minor victim in the sex crimes through Seeking Arrangement. 'In 2021 when there was that case about a certain Republican Congressman from Florida and his tax collector buddy who... the tax collector is currently serving an 11-year sentence for tax evasion and underage sex trafficking,' Urick told the DailyMail.com. Following a report that his 17-year-old accuser had testified that she had two sexual encounters with him, Gaetz announced that he would withdraw from consideration for attorney general. Longtime former Seeking employee Brook Urick, who started out as a sugar baby and eventually became a poster girl for the website, is now whistleblowing on the site Seeking arrangement made headlines in 2021 for apparently being tied to alleged sex trafficking by several men including Donald Trump 's choice for attorney general, Matt Gaetz (pictured) Urick added: ‘It begs the question, if it’s so out in the open that people are paying underage girls for sex on this website, then why is it still around? That is the question I seek to answer.’ 'Seeking.com has no knowledge of Mr. Gaetz ever having an account on the website,' the company said in response to the allegations. 'Seeking values the safety and security of its members above all else, prohibits any and all illegal activities, and strictly enforces those prohibitions,' they added in part. 'To enact such measures, Seeking has 24-hour moderation, provides ongoing training to staff to eliminate members who engage in inappropriate behavior, and uses keyword detection technology, image moderation and additional measures to eliminate those who attempt to misuse the site.' Gaetz has also denied all wrongdoing and having relations with underage girls or paying women for sex, and the probe into his alleged activities ended when he resigned from Congress on November 13 to become part of Trump's top team. Now, there's a renewed interest in the House Ethics committee to release the report on Gaetz's alleged tryst with a 17-year-old girl . It is unclear if the women Gaetz allegedly met through Seeking Arrangement were underage. Founder Wade met his third wife Dana Rosewall - who at 24 is 30 years his junior - on his own website three years ago, and she is now the co-chair of the company that has since been re-branded to just 'Seeking'. Many regular 'sugar babies' have also shared their own success stories about meeting a wealthy older man who opened doors to a life of luxury, like taking them on exotic vacations in five-star hotels while paying their college tuition fees. But Urick, 32, told DailyMail.com this is rarely the case and claimed she received emails from young girls' moms begging for help tracking down their profiles. Pictured: An alleged sugar daddy party Urick posted on her Instagram Pictured: A transaction Urick said was from a married man she met on Seeking Arrangement Speaking from her Las Vegas home, Urick made claims about the organization where she worked for seven years - until she 'stopped drinking the Kool-Aid' and realized she was 'contributing' to what she described as a 'sex-trafficking machine'. Urick joined Seeking at the age of 21 in the hopes of finding a sugar daddy to pay her way through college. Though she didn't find the wealthy older man she'd been hoping for, her profile was scouted by company bosses to become part of their promotional team. Urick said the men often lead double lives, with many working white collar and government jobs. ‘If men are smart, then they don’t reveal their identity, because it is encouraged on the website to be anonymous,' she told DailyMail.com. 'Even if there were people on the website like that I wouldn’t know. 'But I can tell you that during my time there, I did see policemen and people with suffixes of government email addresses personally using the website. ‘I learned a lot about the reality of what motivates people and it’s darker and more sinister than you can imagine.’ One woman who signed up for SeekingArrangement.com previously told LeedsLive : ' I didn’t realize the level that was expected. I thought, at the worst, I would have to send some photographs and do some webcam-ing. Founder Wade met his third wife Dana Rosewall - who at 24 is 30 years his junior - on his own website three years ago, and she is now the co-chair of the company that has since been re-branded to just 'Seeking'. (Pictured: Wade and Rosewall) Brandon Wade, 54, met economics student Dana Rosewall, 24, at the end of 2020, through Seeking Arrangement - the American sugar dating website he founded in California in 2006 'I didn’t know how explicit it was going to be and just how awful it is. It’s a load of men with really obscure fantasies and fetishes. 'A lot of it is about inflicting sadistic stuff on girls and students who are vulnerable. It’s all pretty extreme.' Urick said she wanted to write her book to warn could-be sugar babies that the rarely attained rewards aren't worth the risks. ‘The majority of people do not receive the spoils because of supply and demand, there are not enough rich men to go around,' she said. 'Most of the men on the site are not rich at all. They are picking up where Seeking’s marketing leaves off. 'They are allowed to do that because the site encourages anonymity. One predator can hit dozens, hundreds, perhaps thousands of victims.' In 2018, the New York Times reported that Seeking Arrangement that high school and college-age girls were targeted by the site by being encouraged to register with a '.edu' email to earn a free upgrade. As a result, by 2020, the top occupation on the site was listed as 'student', according to Villanova's Commercial Sexual Exploitation Institute . Urick joined Seeking at the age of 21 in the hopes of finding a sugar daddy to pay her way through college In an interview with The Times, Wade denied that his website was a vehicle for prostitution. He said the terms of service outline how transactions for sex are prohibited - he just wanted to create a platform which allows transparency in talking about money, 'We want to drive people to talk honestly on the first date about who they are and what they expect to gain from a relationship, just like you discuss in any business relationship and any business arrangement,' he told the Times. The National Center on Sexual Exploitation further claimed that 'Seeking Arrangement targets college students who are struggling with student debt with advertisements and free premium accounts, in order to provide sexual gratification to more socio-economically advantaged men.' These in-debt students, the center claims, are more vulnerable to be coerced. 'Without a doubt, you are putting yourself in an extremely vulnerable position. There is a reason the men have chosen SeekingArrangement over eHarmony.com and that is to have sex with younger girls,' one anonymous user told Epigram . Urick recently released a book about her experience, called 'Wink Wink Nudge Nudge: Sexual Exploits and Secrets from Inside a Sugar Daddy Website' Longtime former Seeking employee Brook Urick, who started out as a sugar baby and eventually became a poster girl for the website, is now whistleblowing on the site Pictured: Urick in her 'sugar baby' days, as shared on her Instagram grid Urick said the site's horror stories are often buried because of the 'shame and secrecy' associated with the practice. Seeking describes itself as the place to 'experience hypergamy' - the practice of dating someone of a higher social status or sexual capital than yourself. The website encourages users to 'connect with sophisticated individuals who match your ambition and elevate your journey to the exciting, fulfilling life you deserve'. Urick said the website used to advertise itself more overtly as a sugar daddy-baby meeting place, as verified by DailyMail.com using the Wayback Machine. In November 2020, the website listed 'sugar baby perks' including 'indulging in shopping sprees, expensive dinners, and exotic travel vacations' while promising older men using the website 'four sugar babies per sugar daddy'. And despite appearances, a 2021 report by the Government Accountability Office cited research that 'sexual activity may be expected or implied' for Sugar Daddy websites in general. Seeking Arrangement did not immediately respond to DailyMail.com's request for comment. According to Urick, current legislation does little to protect the minors allegedly exploited by websites like Seeking. Urick said the site's horror stories are often buried because of the 'shame and secrecy' associated with the practice The law made it illegal to knowingly assist in sex trafficking, it did not make these websites per se illegal. 'While I was working there, while that law was passed, I was like, oh it’s the beginning of the end, like this law is going to shut down this website. 'So, imagine my surprise so many years later when the website is still around. 'I wish to inform people about how your perspective changes from when you’re a young 18-year-old to when you’re older like I was when I left the company, I was 27. 'You really do have a mindset shift during that time. 'I began to realize that it was not easy money, it was the most horrifying money I ever made, and the only way to stop these websites in my opinion is to get the girls off the website, because the commodity of sugar daddy websites is naïve young sugar babies. 'If we can let these girls know that it’s not what you think it is, then maybe we can help.’ In a 2022 press release , Seeking wrote of newer safeguards they had put in place, 'As Seeking continues to grow, so do the brand’s social responsibility efforts, and its unmatched commitment to keeping its community safe on and offline. 'Seeking has partnered with UrSafe, FreedomLight and similar groups to make dating safer and work to prevent sex trafficking, while also offering background check verifications for users, two-factor authentication to safeguard information and a dedicated 24-hour customer service department.' Matt Gaetz Share or comment on this article: I worked for the sugar daddy website used by Matt Gaetz's predator friend... what I saw disgusted me e-mail Add comment

Strictly Come Dancing’s astonishing 'risk' as BBC bosses branded 'mad'The assisted dying bill would place “serious logistical problems” on judges and the courts, senior judicial figures have warned. The bill, which will be voted on for the first time on Friday, would require a High Court judge to approve an assisted death. The judge would need to certify that the person deciding to end their life had mental capacity, was free from coercion and had had the application approved by two independent doctors. The role of judges is causing concern among the judiciary, The Times has been told. An analysis of the impact on the judiciary by Sir James Munby, the former head of the family division of the High Court, calculated that the bill would require 34,000 hours of judicial involvement each year,

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Topcliffe, a village in North Yorkshire, has been identified as the coldest spot in England on Wednesday night with temperatures plunging to -9.4C, making it the chilliest November night since 2010. This was highlighted by BBC weatherman Paul Hudson on social media, where he remarked: "Minus 9.4C at Topcliffe in North Yorkshire last night is the lowest November temperature anywhere in England since 2010." Topcliffe is about 30 miles south of Middlesbrough , and five miles south-west of Thirsk The Met Office has issued a yellow weather warning for snow and ice across large parts of the country, including Yorkshire, cautioning that "Wintry showers and icy patches are expected this evening and overnight, perhaps leading to some travel disruption." Teesside has had numerous warnings for snow and ice during the cold spell, but has yet to hit by any serious snowfall. Storm Bert is set to hit the region at the weekend, bringing strong wind to the area. Huddersfield's own weather expert Paul Stevens suggests the weekend could bring stormy conditions, with potential gusts hitting 50-60mph, accompanied by heavy rain and possibly snow from Saturday, reports Yorkshire Live .. The record for the lowest temperature in England still stands from January 10, 1982, when Newport, Shropshire saw the mercury drop to -26.1C, while Braemar in east Scotland experienced a bone-chilling -27.2C on the same day. For daily news from Teesside's courts direct to your inbox, go here to sign up to our free court newsletter Teesside Live is now on WhatsApp and we want you to join our community. Through the app, we'll send you the latest breaking news, top stories, exclusives and much more straight to your phone. To join our community group, you need to already have WhatsApp. All you need to do is click this link and select 'Join Community' . No one will be able to see who is signed up and no one can send messages except the Teesside Live team. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'Exit group'. If you’re curious, you can read our Privacy Notice . Click here to join our WhatsApp community .Denver Shines Brightly this New Year's EveBelarus delegation arrives, president due today: Clashes, arrests as PTI convoys enter Punjab One convoy being led by KPK CM Ali Amin Gandapur, along with Bushra Bibi, from Peshawar to Islamabad ISLAMABAD: Amidst clashes with law-enforcers in various cities of the country and arrests of hundreds of party activists, the Pakistan Tehreek-e-Insaf convoy, led by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur and PTI founder’s spouse Bushra Bibi, entered Punjab late Sunday night as it marched on the federal capital. Islamabad was put under a security lockdown ahead of protests by supporters of jailed former premier Imran Khan, who are demanding his release. Highways leading to the capital were blocked and trenches were dug at various points along inter-provincial major roads to prevent the party activists’ march on Islamabad. The Punjab and Khyber-Pakhtunkhwa border was totally sealed by placing dozens of shipment containers at the Punjab’s entry points. One major convoy was being led by Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur, along with Imran Khan’s wife Bushra Bibi, from Peshawar to Islamabad. Sheikh Waqas Akram also confirmed that Bushra Bibi was a part of the PTI protest convoy and she was traveling in a separate vehicle. Additional convoys from other regions are expected to join Gandapur in Swabi after which the combined convoys would head towards Islamabad under Gandapur’s leadership. In Punjab, protest rallies were held in various cities, including Lahore, Multan, Gujrat, Gujranwala, Pakpattan, Faisalabad and other cities. In Lahore, clashes broke out between the PTI workers and police on Lytton Road, resulting in detention of several activists. Among those arrested were Lahore PTI Information Secretary Hafiz Zeeshan, former MPA Nadeem Abbas Bara, Chairman UC Azam Yousuf and Advocate Zameer Ahmed Jhidu. Female workers were also among those detained. However, political analysts believe the PTI Lahore failed to put up any noticeable show on the call of Imran Khan and his wife Bushra Bibi. The main rally was seen in PP-150, in which a thick attendance of party workers was seen. In the areas of Gulberg, Garden Town, Faisal Town, Johar Town, workers also gathered to chant slogans in favour of Imran Khan. However, in other parts of the city, not much crowd was seen and people mostly preferred to stay indoors to avoid any clash with the police. Near Azad Chowk, a group of PTI workers exchanged heated arguments with Punjab Information Minister Azma Bukhari. Scores of PTI workers were arrested in Multan and police foiled their attempt to organise a protest at Ghanta Ghar Chowk on Sunday. Police arrested MNA Aamir Dogar from Multan, when he was on his way to Islamabad. Zain Qureshi, MPA Moinuddin Qureshi and Rana Tufail Noon were also taken into custody in Multan. All the PTI leaders were shifted to undisclosed locations. A police official said on Sunday the number of arrests might cross 100 in Multan. A heavy blanket of security descended on Gujrat district as local authorities sealed all major entry and exit points to thwart the PTI march on Islamabad. Key routes connecting Azad Jammu and Kashmir, Sialkot, Mandi Bahauddin, and neighbouring towns were blocked by placing containers. However, no major arrests were reported, as many workers went underground or joined convoys advancing toward Islamabad. In Gujranwala, the district administration and police sealed the entrance and exit points of the city. Dozens of PTI workers were arrested by the police to foil their attempt to join the protest in Islamabad. Sources said a list of more than 1,500 PTI workers and leaders in Gujranwala and Wazirabad had been prepared for their arrest. In Pakpattan, the police allegedly arrested PTI District President Riaz Arshad Niazi, Chaudhry Naeem, Ibrahim, Raja Talha, Saeed and Murad Bhatti. According to sources in the police, 94 PTI workers had been detained in the district. Under the leadership of Rao Umar Hashim, Tariq Shah Khaga, Mehr Moinuddin Chishti, the departure posts of caravans for Islamabad were also posted on social media. In Faisalabad, the PTI convoys could not leave for Islamabad due to the police action and closure of roads including Motorway Interchange and GT Road. The PTI workers and police came face to face on Sargodha Road, workers pelted the police vans with stones while the police fired tear gas. The police said more than 400 PTI workers were arrested. Meanwhile, a PTI spokesman declared Nov 24 as the dawn of a new era with the shackles of oppression and slavery starting to shatter and the walls of tyranny crumbling. He criticised the government for turning Islamabad into an ‘open prison’, blocking the peaceful protestors from entering the federal capital. He alleged that the ‘illegitimate’ government had unleashed a reign of terror and violated sanctity of four walls to silence the PTI founder chairman’s loyalists. Separately, former speaker National Assembly Asad Qaiser said on Sunday the country had been pushed towards anarchy and the situation was getting worse day by day due to the wrong policies of the government. Addressing the PTI workers at the rest area of Islamabad-Peshawar Motorway, he said the country was facing many internal and external challenges. He was marching on Islamabad along with the party workers to attend the protest on the call of PTI founder Imran Khan. Also, former president Dr Arif Alvi Sunday accused the federal government of attempting to suppress political dissent by targeting the PTI supporters. Talking to Geo News here, the PTI leader criticised the government for its “crackdown” on the party. “PTI workers from Punjab are being prevented from joining us,” said Alvi, adding that the government was cracking down on PTI supporters. On the other hand, a high-level Belarusian delegation, led by Foreign Minister Maksim Ryazanov, arrived in Islamabad on Sunday, with President Alexander Lukhshenko scheduled to reach the country on Monday (today), according to the Foreign Office. The delegation, comprising 68 members, included eight ministers and 43 business representatives. They were welcomed by Interior Minister Mohsin Naqvi, Additional Secretary for Foreign Affairs Shafqat Ali Khan and Pakistan’s Ambassador to Belarus, Sajjad Haider Khan. During the visit, President Lukashenko would hold detailed talks with Prime Minister Shehbaz Sharif to enhance bilateral relations and cooperation in various fields. Multiple agreements and memorandums of understanding are expected to be signed. Meanwhile, Federal Interior Minister Mohsin Naqvi reiterated that those who would be found involved in breaching law, would not be spared and be arrested on the spot. “Strict action will be taken against troublemakers,” Naqvi warned, highlighting the administration’s readiness to handle any disruptions. Talking to the media on Sunday evening, he said that the purpose of PTI was to harm the country’s reputation, which was evident from the fact that when the Belarusian delegation had to pass through the highway, the PTI protesters suddenly appeared on the route and started stone pelting. However, Islamabad and Rawalpindi police foiled their attempt through a joint operation and arrested several protesters. He said that most of the protesters arrested were Afghans. In response to a question, he said the situation in Parachinar was deteriorating, but the provincial government’s first priority was to march towards Islamabad. He said the situation in the whole country was better but only KP was coming to disrupt the country’s peace. Federal Interior Minister Mohsin Naqvi reached D-Chowk to boost the morale of police, FC and Rangers personnel. He met personnel on duty and commended their high morale. Mohsin Naqvi appreciated the personnel on duty for their dedication to duty and paid tribute to them. He praised the personnel on duty for the safety of citizens lives and property day and night. The minister conducted an aerial inspection of Islamabad, Rawalpindi and Attock on Saturday to oversee security arrangements in light of potential political unrest. Following his tour, Naqvi expressed satisfaction with the measures in place, assuring citizens that the government was fully committed to ensuring their safety and maintaining public order. Meanwhile, Federal Minister for Information and Broadcasting Attaullah Tarar Sunday said the PTI leaders were offering voluntary arrests. Talking to the media in Islamabad, he reiterated that the strictest legal action would be taken against those who spread chaos in the capital city. He claimed that many PTI people did not want their leader to come out of jail; similarly, many people contacted the administration and requested for their arrest. Separately, Federal Minister for Planning and Development Ahsan Iqbal said once again the PTI wanted to sabotage the country’s development journey through protests. “Courts are the only way out to get the PTI founder released. Pakistan will not be allowed to fall victim to the ego of any one person,” he said while addressing a press conference in Lahore on Sunday. The federal minister made it clear that the government could not release the PTI founder through any administrative order; he would have to file his case in courts for his release. “The PTI founder is not in jail to fulfil any legal requirement but for theft, fraud and sedition,” he added. Also, Deputy Prime Minister/Foreign Minister Ishaq Dar Sunday questioned PTI’s repeated calls for strikes, terming them a well-thought-out conspiracy against the country’s prestige. In a press statement, he expressed his regret over PTI’s protest announced for Nov 24 in Islamabad. He said the party announced its protests at a time when important personalities were on a visit to Pakistan. Meanwhile, Federal Minister for Petroleum Dr Musaddik Malik claimed that the PTI leaders did not want the release of Imran Khan. Speaking at a news conference in Karachi, he alleged KP Chief Minister Ali Amin Gandapur was trying to attack Punjab and Islamabad. Also, Punjab Information Minister Azma Bukhari said the situation in Kurram, Bannu and Bara was sensitive, but unfortunately KP Chief Minister Ali Amin Gandapur was busy in making preparations to run over the federation. In a statement issued here on Sunday, she said Gandapur should focus on welfare of people, but regrettably he was acting as puppet of Adiala jail’s prisoner. Separately, the PPP said the nation had rejected rioting in the name of PTI’s protest. “PTI has no concern for the lives and property of people,” said PPP Secretary Information Shazia Marri in a statement on Sunday.NEW YORK (AP) — Free agent pitchers Luis Gabriel Moreno and Alejandro Crisostomo were suspended for 80 games each by Major League Baseball on Friday following positive tests for performance-enhancing substances under the minor league drug program. Moreno tested positive for Nandrolone, and Crisostomo tested positive for Boldenone and Nandrolone, the commissioner’s office said. A 26-year-old right-hander, Moreno was released by the New York Mets’ Class A Brooklyn Cyclones on Tuesday. He was 5-1 with a 5.33 ERA in 12 relief appearances this season for Brooklyn after spending 2016-23 in the San Francisco Giants organization. Crisostomo, a 24-year-old right-hander, was released by Minnesota on Aug. 24 after going 0-1 with a 7.13 ERA this year with the Florida Complex League Twins. He signed with Boston in 2017, spent 2018 in the Dominican Summer League with the Red Sox, then signed with Minnesota and spent 2023 with the Twins DSL team. Nineteen players have been suspended this year for positive drug tests, including eight under the minor league program and nine under the new program for minor league players assigned outside the United States and Canada. Two players have been suspended this year under the major league drug program. Noelvi Marté , a 22-year-old infielder who is the Cincinnati Reds’ top prospect, missed the first 80 games following a positive test for boldenone. Toronto Blue Jays infielder Orelvis Martínez was suspended for 80 games on June 23 following a positive test for the performance-enhancing drug clomiphene, an announcement made two days after his major league debut . AP MLB: https://apnews.com/hub/mlb

When union boss Paddy Crumlin appeared at an international labour conference last month, he entered smiling to the strains of the 1997 hit Tubthumping : “I get knocked down, but I get up again, you’re never going to keep me down.” Crumlin, who led the merger of the Maritime Union he leads with the scandal-plagued CFMEU in 2018, had reason to grin. Wayne Swan, Paddy Crumlin, Nicola Roxon and Julia Angrisano are among the many superannuation fund directors with labour connections. Credit: Monique Westerman In 2021, the Maritime Super fund that Crumlin chaired had performed so poorly that it handed over investment decisions to another fund, Hostplus, and formally merged with it two years later. But this week Crumlin was back as a super fund director. The CFMEU had picked him as a director of Cbus, the building industry superannuation fund. The CFMEU’s Crumlin pick is just one of a thicket of ties between the unions, Labor and industry superannuation funds that have come to be among the largest and most powerful players in the Australian economy. These funds, which count about 11 million members, are run to profit their members while retail super funds are typically operated by for-profit businesses such as fund managers or banks. And, under the industry model in which unions and employer groups nominate roughly equal numbers of directors to funds, ties between the sector and the labour movement are backed in. But as the $3.9 trillion sector’s coffers have swelled, with big industry funds such as AustralianSuper ($341 billion under management), Cbus ($94 billion) and CareSuper ($53 billion) counting memberships up to 3.4 million people, the level of oversight that model delivers has come under greater scrutiny. The Australian Securities and Investments Commission launched Federal Court proceedings last week against Cbus after it failed to identify and prevent delays in processing death and disability insurance claims that affected 10,000 members, dating back to August 2022 – a failure that Cbus has conceded cost its members about $20 million. CFMEU manufacturing division boss Michael O’Connor is facing separate allegations he misused his position at a small fund, First Super, to bankroll the salary of a union delegate with fund money while his organisation was experiencing financial difficulties. And AustralianSuper, the industry’s largest, could be fined $27 million over its failure to consolidate more than 90,000 members’ accounts, costing them almost $70 million, in another case brought by the corporate regulator. While the funds are variously declining to comment, blaming external contractors, or apologising and saying they have already addressed the issues, superannuation critics smell blood. Liberal senator Andrew Bragg, the opposition assistant spokesman for home ownership, says the sector’s board model, in which union and industry representatives oversee funds rather than typical corporate directors, is no longer fit for purpose. “There is an unmanageable conflict of interest between the interests of unions and workers,” Bragg says. “And there is the cavalcade of Labor politicians, how do they get these positions?” Cbus, for example, is chaired by former Labor treasurer and current party president Wayne Swan. Don Russell, a former senior adviser to Labor prime minister Paul Keating, chairs AustralianSuper. HESTA, an $88 billion fund for the health and community sector, is chaired by Nicola Roxon, a Rudd-Gillard era minister. Bragg says the sector has created a perception that it operates in line with modern governance standards. “It has taken the CFMEU issue to expose that,” he says. Bragg is referring to the litany of allegations of underworld infiltration and corruption revealed in this masthead’s Building Bad series that led the federal government to appoint a barrister to take over the CFMEU. That barrister, Mark Irving, KC, said in August he wanted a “clean sweep” of serving CFMEU representatives from the Cbus board but reappointed one who resigned, Jason O’Mara, alongside Crumlin and a union lawyer, Lucy Weber. There are no allegations against any of those individuals. Super Consumers Australia chief executive Xavier O’Halloran, whose group represents people with superannuation accounts, says the “partisan debate” over Cbus should not be the main focus. “The skills and competence of these boards are really important, and that should be the primary focus,” O’Halloran says. “What we have seen in the UK, the regulator has a role in determining a fit and proper person, to determine who should be on the board. “That’s not something the regulator [APRA] here does. They [unions and industry groups] make their own picks, and we think that could be improved, that there should be greater rigour.” But while O’Halloran would like to see improvements to board regulation, and perhaps the introduction of more independent directors, he also confirms the industry superannuation sector is largely beating its retail competitors. And there is evidence they are delivering on the goals Paul Keating had in mind when he set up the superannuation system: ensuring comfortable retirements and reducing the burden, over time, of the aged pension on federal government coffers. The federal 2023 Intergenerational Report shows government spending on Aged and Service pensions will fall from 2.3 per cent of GDP to 2 per cent by 2063, because of superannuation, even as the population ages. Misha Schubert, chief executive of the lobby group for industry super funds, argues their performance shows the board model is working. “The shared governance model of this type of fund – whether they arose from an industry, company or the public sector – was created with a clear and single purpose,” she wrote earlier this year. “To serve the fund members whose retirement savings they safeguard and grow. “They do so by deeply understanding their members and the workplaces in which their members work – they know exactly whose money it is they are stewarding.” The law governing superannuation funds, Schubert notes, requires directors to comply with high standards of performance and act in members’ best interests. Alongside the labour representatives, big superannuation boards are balanced with employer heavyweights. Cbus’ board employer directors, for example, are all nominated by Master Builders Australia and include that organisation’s chief executive, Denita Wawn. It’s a similar story with AustralianSuper, whose employer directors include AiG chief executive (and former Liberal staffer) Innes Willox, as well as a number of other directors aligned with the employer group that originally represented manufacturing firms. A Cbus spokesman said in a statement that having equal employer and employee representation on its board had ensured its success for 40 years, and it was pleased to welcome the three new directors. “After applying a comprehensive ‘fit and proper persons test’ the Cbus board confirmed the appointment of the three directors who share a determination to generate the strongest, sustainable financial returns for members and deliver the best possible service,” the spokesman said. The fund previously apologised to its members over the claim delays, said it was implementing a compensation process and co-operated with ASIC. Swan, the Cbus chairman, told the Today show last week that many of the criticisms of the fund were “completely inaccurate” and blamed a contracted service provider for the insurance delays but apologised to affected members’ families. “I can assure you, from the minute I became aware of this as chair of the board, I worked with the board to resolve it as quickly as possible,” he said. AustralianSuper has apologised for the multiple accounts issue. “We found this mistake, we reported it, we apologised to impacted members, we paid them back, and we’ve improved our processes to prevent it happening again,” a spokesman said. Michael O’Connor, the CFMEU manufacturing division boss, has voluntarily stood aside while the court case over the alleged misuse of his position is under way and had not responded to comment requests. Unlike some of the union heavyweights, many of the Labor figures on superannuation boards have external pedigree. Russell, of AustralianSuper, for example, is a former ambassador to the United States who has worked at global finance firms including BNY Mellon Asset Management and Sanford C. Bernstein. Hostplus chair Roxon is also an independent director at the property company Dexus. And increasingly, the funds also have independent directors with financial or governance expertise. The 2.4 million-member Australian Retirement Trust, for example, has on its board former top regulator Helen Rowell, and Martin Parkinson, who headed the public service under conservative governments. But that has not satisfied the sector’s critics. Bragg, the Liberal senator, is expected to haul Cbus chairman Swan before the Senate’s economics committee for questions next week. Given the pair’s background, it is unlikely to be a genteel affair. Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter .The first guest invited to ring the bell to open trading at the New York Stock Exchange in 1956 wasn’t a company executive, a politician or a well-known celebrity. It was a 10-year-old boy, Leonard Ross, who received the honor by winning a television quiz show. Since then, business titans, political giants and global film stars have all been among those ringing the opening bell at the NYSE. Ronald Reagan rang the bell as president in 1985. Billionaire businessman and former New York City Mayor Michael Bloomberg and Hollywood star Robert Downey Jr. have also rung the bell. The list even includes famous Muppets: Miss Piggy was once a bell ringer. President-elect Donald Trump joined that list Thursday when he opened trading at the famous stock exchange on Wall Street. He was accompanied by his wife, Melania, who interestingly enough received the honor before her husband. As first lady, she rang the bell in 2019 as part of her “Be Best” program. Bell-ringers are more commonly founders and executives from a wide range of companies. Over the last few months, the guests have included executives from Alaska Air Group, Bath & Body Works, and Ally Financial. Stock trading around the location of the NYSE's current home has deep roots that trace back to the Dutch founding of New Amsterdam and when Wall Street had an actual wall. The NYSE traces its direct roots to the “Buttonwood Agreement” signed in 1792, which set rules for stock trading and commissions. The NYSE moved into its first permanent home in 1865. The first bell in use was actually a gong. The exchange moved into its current iconic building in 1903 and started using an electronically operated brass bell. That has evolved into synchronized bells in each of the NYSE’s four trading areas. This article was generated from an automated news agency feed without modifications to text.

Sigma Lithium Co. ( NASDAQ:SGML – Get Free Report ) was down 3.4% on Friday . The company traded as low as $14.08 and last traded at $14.15. Approximately 99,598 shares changed hands during trading, a decline of 90% from the average daily volume of 1,006,425 shares. The stock had previously closed at $14.65. Wall Street Analysts Forecast Growth Separately, BMO Capital Markets cut their target price on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Get Our Latest Stock Analysis on Sigma Lithium Sigma Lithium Stock Performance Hedge Funds Weigh In On Sigma Lithium A number of hedge funds have recently bought and sold shares of the company. Appian Way Asset Management LP lifted its holdings in Sigma Lithium by 57.2% during the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock worth $50,582,000 after buying an additional 1,488,265 shares during the last quarter. Fourth Sail Capital LP raised its position in shares of Sigma Lithium by 1,572.2% during the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after acquiring an additional 2,947,331 shares in the last quarter. Van ECK Associates Corp lifted its stake in Sigma Lithium by 3.9% during the third quarter. Van ECK Associates Corp now owns 1,248,755 shares of the company’s stock worth $15,435,000 after purchasing an additional 47,143 shares during the last quarter. Millennium Management LLC boosted its holdings in Sigma Lithium by 16.9% in the second quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after purchasing an additional 179,355 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in Sigma Lithium by 18.0% during the second quarter. Point72 Asset Management L.P. now owns 1,144,492 shares of the company’s stock valued at $13,768,000 after purchasing an additional 174,992 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds. Sigma Lithium Company Profile ( Get Free Report ) Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil. Read More Receive News & Ratings for Sigma Lithium Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sigma Lithium and related companies with MarketBeat.com's FREE daily email newsletter .