Posts tagged with "Crew"

New York appeals court allows Trump emoluments case to move forward

September 16, 2019

President Donald Trump has never been one “to look a gift horse in the mouth”—but now, his avarice may have consequences. On September 13, a federal appeals court in New York ruled that a lawsuit accusing the POTUS of violating the Emoluments ClauseArticle I, Section 9, Clause 8 of the U.S. Constitution—could proceed after a lower court had thrown out the case.

Specifically, the clause “prohibits any person holding a government office from accepting any present, emolument, office, or title from any King, Prince, or foreign State, without congressional consent. Its purpose is to prevent external influence and corruption of American officers by foreign states

According to a report by The Hill, a panel of judges with the 2nd Circuit Court of Appeals ruled in favor of the plaintiff, Citizens for Responsibility and Ethics in Washington (CREW), which alleged that the president violated the constitutional clause by refusing to put his business assets in a blind trust while in office and profiting off the presidency.

But the case had been dismissed by a lower court in December 2017.

CREW welcomed the reinstatement of the case: “If President Trump would like to avoid the case going further and curtail the serious harms caused by his unconstitutional conduct, now would be a good time to divest from his businesses and end his violations of the Emoluments Clauses of the Constitution,” Executive Director Noah Bookbinder said in a statement.

And CREW is just one of the many watchdog organizations that have raised concerns about the president’s decision not to put his company in a blind trust, according to The Hill.

Indeed, several of his actions in recent weeks seem to have been geared to generate profits for his properties—among them, his talk of hosting the next G7 meeting at his Trump National Doral Golf Club in Miami; his “suggestion” that Vice President Pence stay at his Turnberry golf resort in Scotland; and his deal with the USAF to do pricey refuels at the nearby airport and layovers at TrumpTurnberry.

Multiple lawsuits have alleged Trump is in violation of the Emoluments Clause , but none has gone to court until the September 13 decision cleared the way.

“I got sued on a thing called emoluments. Emoluments. You ever hear of the word? Nobody ever heard of it before,” Trump said at a speech in Pennsylvania last month. “And what it is is presidential harassment, because [the presidency] is costing me a fortune, and I love it.”

Chances are, he’ll be familiar with the Emoluments Clause soon.

Research contact: @thehill

Equinox to go up against Peleton and Mirror for streaming fitness supremacy

August 16, 2019

Earlier this month, Stephen Ross, the billionaire owner of the popular fitness brands, Equinox, SoulCycle, Precision Run, and Blink Fitness, sparked outrage and calls for a boycott of his businesses when he hosted a fundraiser for President Donald Trump in the fashionable Hamptons area of Long Island, New York.

But that hasn’t slowed down his push into the fitness category. In fact, Ross now has announced his intentions to take on Peloton, the New York City-based exercise equipment and media company that has revolutionized the home biking experience—connecting users to live and on-demand streaming on-screen classes across a variety of devices for $39 per month.

According to a report by Fast Company, Ross’s new digital venture will include two separate pieces of hardware and personalized content representing Ross’s portfolio of brands.

Slated for launch this fall, the platform will pair with a new stationary bike identical to the one found in SoulCycle studios—with the addition of an attached screen. Equinox also will sell its proprietary Woodway treadmill, which can already be found at its Precision Run studios.

The new digital venture (which has not yet been named, Fast Company says) will include all the brands’ signature workouts—led by top instructors—in one network. It is not meant to replace the live studio experience, rather to serve as an addition for dedicated members who want an at-home offering.

The new digital venture puts Equinox in direct competition with Peloton, which also boasts both treadmill and stationary bikes along with a broad range of fitness content. Last year, Peloton opened a new production studio dedicated to yoga and meditation in New York City. The streaming giant is now valued at more than $4 billion.

Peloton stands out in the $14 billion home fitness equipment market, but it’s becoming an increasingly crowded space: Fast Company notes the long list of competitive startups—among them,  Mirror (personal training, yoga), Crew (rowing), and Tonal (weight lifting) ; all of which are attempting to do what Peloton did for the indoor bike.

While approximately 16% of the U.S. population holds a gym membership card, a recent survey found that 54% of Americans who work out at least once a month are interested in buying an at-home fitness system.

Over the last few years, Equinox members increasingly have demanded more ways to interact with the brand on their own schedule. Around 86% of them would like to spend more time with the brand than they get to, according to a recent survey of SoulCycle riders.

The new platform will integrate live and recorded original video and audio content–and will start with an invitation-only launch in the fall, with the at-home equipment available for purchase by the winter. A more public rollout is set for early 2020.

Research contact: @Equinox_Service