$15k raised. Simply overwhelmed.

We are speechless. Yesterday the Roca community raised over $15k for the Gathering Place in Wellsville, OH. In case you missed yesterday’s plug, we detail the organization in today’s Wrap. We are so proud and lucky to call you all the Roca community. You have done so much good for so many people this year. The Gathering Place didn’t even know we were doing this. They are going to be stunned.

–Max and Max

KEY STORY

Biden’s Stock Ban?

President Biden endorsed the premise of a congressional stock trading ban

• “Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said in an interview

• It’s the first time Biden – who promised to never buy an individual stock or bond when he first ran for office in 1972 – has taken a public stance on the issue

• It’s unclear if Biden’s statement will result in action given his lame-duck status, but it could mount pressure to pass the ETHICS Act – a congressional trading ban the Senate is yet to vote on

Dig Deeper

• The ETHICS Act – introduced by a bipartisan group of senators earlier this year – would bar lawmakers and their immediate families from buying or selling certain assets, including stocks, while in office, and require the president and vice president to divest from the select assets, too

KEY STORY

Argentina Exits Recession

A year after libertarian President Javier Milei took power, Argentina exited a recession

• Upon winning office, Milei promised “shock therapy” – massive spending cuts – to cure triple-digit inflation, a shrinking economy, and worthless currency. He proceeded to enact widespread spending cuts and deregulation, promising the policies would leave people better off in the long-run

• The poverty rate has since increased significantly – 11 points, to 53% nationally – however, inflation dropped considerably. This week, data showed the economy grew at a 3.9% rate in Q3, its first growth in a year

Dig Deeper

• 2025 will be a decisive for Milei’s libertarian ambitions: He faces mid-term elections late in the year, while expanded powers that are letting him deregulate the economy expire midway through the year

• Wages remain low, poverty high, and the economy smaller than it was in 2021. How the economy performs in the coming months could determine the extent to which Milei is able to achieve his agenda

ROCA’S SPONSOR

Santa’s Bringing Coal… And A $2.1T Opportunity

Together with Frontieras

Coal in your stocking this year? It could be worth billions

• John D. Rockefeller made an enormous fortune commercializing oil refining technology. Now, the innovators at Frontieras have made a similar breakthrough in coal-processing tech that you can invest in

• They’ve patented a groundbreaking technology to extract $2.1T of valuable resources from coal and they’re building their first $850m facility soon

• Learn why early investors are rushing to capitalize on it, and how you can become a shareholder

Disclosure: This is a paid advertisement for Frontieras Regulation CF Offering. Please read the offering circular at https://invest.frontieras.com/. 

KEY STORY

Financial Aid Suit

New docs show universities prioritizing wealthy kids

• A lawsuit accuses 17 top universities – including MIT, the University of Pennsylvania, and Notre Dame – of undercutting “need blind” admissions by favoring wealthy students. This week, files from the suit were released

• The files showed a Notre Dame official writing, “Sure hope the wealthy next year raise a few more smart kids!”; a former Georgetown president recommending students for admissions based purely on parents’ donation histories; and a former U. Penn associate dean saying that preferred wealthy students “would get in almost 100 percent of the time,” even if unqualified

Dig Deeper

• The Penn dean said student would be admitted, “Even if the student was incredibly weak, even if the student had a major issue in the application”

• The universities deny they did anything illegal or that favoritism happened on the scale that is being portrayed. Notre Dame said in a statement, “Every student admitted to Notre Dame is fully qualified and ready to succeed,” while Penn said, “Penn does not favor in admissions students whose families have made or pledged donations to Penn, whatever the amount”

KEY STORY

MSNBC and CNN Crater

The primetime audiences for CNN and MSNBC have fallen by 46% and 55%, respectively, since the election

• Through Election Day, CNN and MSNBC averaged 739k and 1.3M primetime viewers, respectively; since election day, those numbers have fallen to 401k and 603k

• Fox News’ audience, on the other hand, has risen to 2.7M, making it 2.5x larger than CNN and MSNBC’ combined primetime programming totals

Dig Deeper

• While CNN and MSNBC benefitted from a “Trump bump” in 2017 and are hoping to experience that again, ratings declines for opposition media aren't uncommon following an electoral defeat

• After Biden won in 2020, Fox News’ prime-time viewership fell by 6%. After Obama won in 2012, Fox News’ prime-time viewership dropped 13%

• The new data, from Nielsen, also showed that streaming rose to a record 41.6% of total TV viewing in November, raising questions as to whether the lost CNN and MSNBC viewers will return

RUNDOWN
Some Quick Stories for the Office

🚘 Japanese car giants Honda and Nissan announced they are holding merger talks

🇺🇸 The Fed cut its benchmark rate to a two-year low but added that it would be cautious about making further cuts in 2025

🛜 The US is considering banning the US’ best-selling WiFi router, the China-made TP-Link, over cybersecurity concerns

🚫 The US Supreme Court (SCOTUS) agreed to hear last-minute arguments from TikTok against its US ban

🇺🇸 President-elect Donald Trump came out against a spending bill backed by Speaker Mike Johnson (R-LA), increasing the likelihood of a government shutdown

COMMUNITY

🧐 Yesterday’s question: Is gambling getting out of control in the US?

🧠 Today’s question: Who’s the most influential media figure in the US today?

Reply to this email to let us know what you think!

POPCORN
Some Quick Stories for Happy Hour

🐝 Console-ation Prize: The Charlotte Hornets apologized after a promotional skit where they gave a 13-year-old fan a PS5 during a game, only to take it back off-camera and replace it with a jersey

🐘 Mastodon Mow-Ment: A complete mastodon jaw was discovered under a New York state resident's lawn after two large teeth were spotted protruding from the ground

🐕 Ruff Flight: A viral video captured a Great Dane boarding a plane as an emotional support animal

🧑‍🤝‍🧑 Digital Detective Solves the Case: A Spanish couple has been arrested for murder after Google Street View images appeared to show a man loading a body wrapped in a white sheet into his car trunk

🦇 Guano Gone Wrong: Two men from Rochester, New York died after using bat poop to fertilize their cannabis plants

ROCA WRAP

Inspiration of the Year

At first sight, Wellsville, Ohio, looks grim.

A Rust Belt city on the Ohio-West Virginia border, its population has fallen 65% in the last century. Vacant storefronts and dollar stores line Main Street.

Yet hidden between them is the most inspiring place we’ve visited on this year’s cross-country travels: The Gathering Place.

“Wellsville used to be a pretty thriving town,” Brenda – The Gathering Place’s founder – told us.

One of the centers of the American pottery industry, “You could walk up the streets and not have to worry about anybody...we all came together, we walked together, went to the dairy place.”

American imports of pottery from Asia have since caused the local industry to collapse.

“Today, you're afraid for your children to go out and either play in your yard,” Brenda said. “My son always says, ‘Mom, I wish I could have grown up then.’”

So she is bringing it back.

During the pandemic, Brenda had the idea – from God, she says – to create The Gathering Place, a free restaurant for Wellsville’s residents. It would be staffed only by volunteers, funded purely by donations, and open to anyone who wanted community or a meal.

She secured space through her church in a non-descript building and started serving the food. Today, it’s Wellsville’s meeting place, offering friends and delicious food in a town where many people can’t afford to eat out and business after business has shuttered.

We happened to stop by this November, when somebody outside told us that the sparsely-decorated building was where we needed to go to understand Wellsville. Inside, we found a community like nowhere else.

It was more living room than restaurant: No one was a stranger, the cooking was being done with love, and everyone belonged. The customers were rich and poor, young and old, religious and not.

Brenda said that at the busiest times, “There's tons [of people] in here. You can't even get through.”

Guests told us stories about how The Gathering Place has helped people defeat addiction, provided friends for the lonely, and supported those facing difficult times.

More than a restaurant, it’s become the beating heart propelling Wellsville’s community forward. And while many communities are struggling, Brenda and her team have shown that love and selflessness can keep them alive.

Despite their impact, donations are hard to come by in Wellsville, where budgets are tight. We’re doing our annual Roca Community GoFundMe to support The Gathering Place. If you’d like to contribute, you can do so here.

EDITOR’S NOTE
Final Thoughts

This is one of the proudest days we’ve had as RocaNews founders. Between the Gathering Place and the North Carolina hurricane victims, so many people have benefitted from your generosity this year.

All we can say is thank you.

–Max and Max