In Other Brews…

In other SCOTUS news, the nine unanimously returned two social media cases to their respective lower courts in Texas and Florida for analysis—a temporary win for tech companies. And in yet another blow to federal agencies, the court ruled 6-3 in favor of a North Dakota truck stop that wanted to sue over a regulation on debit swipe fees.

Boeing plans to buy back its fuselage maker Spirit AeroSystems in hopes the reunion will align incentives and stamp out quality and safety issues that have plagued both companies (e.g., the Spirit-manufactured panel blowing out of Boeing 737 in January). The purchase price landed at $4.7 billion in all stock and is expected to close mid-2025.

The owners of the world-champion Boston Celtics paid attention in Econ 101… they’re selling high. After purchasing the Celtics in 2002 for $360 million, they’re selling a majority stake in the team now worth ~$5 billion. They’re not the only lucky leprechaun; Celtics star Jayson Tatum just signed the largest contract in NBA history—a $314 million five-year extension.

At least 116 people died in a stampede in northern India yesterday after heat and overcrowding caused panic at a Hindu prayer meeting. Over in the Western Hemisphere, Hurricane Beryl was upgraded to Category 5 status (the earliest on record) after it struck Grenada with 160 mph winds, killing at least one. 

Redbox's future looks as bright as Blockbuster's headquarters. The movie vending machine's parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 11 bankruptcy on Friday after accumulating nearly $1 billion of debt owed to over 500 creditors. Its stock is trading at $0.11, down 99.7% from its peak in June 2021.