What just happened? asks the Los Angeles Times, concerning the sale of "the Mountain", a large undeveloped plot of land overlooking Los Angeles that was listed for $1bn but nabbed at auction for only $100k, despite the seller needing to cover a $200m loan.
The auction was over almost as soon as it began. The attorney overseeing the sale, David Bark of First American Title, asked if anyone was interested in being prequalified to bid. No one stepped forward, presumably because a buyer would be on the hook for the outstanding debt.
He then announced that the Hughes estate, which forced the auction, had placed a $100,000 credit bid on the property, which means the money comes from the debt they’re owed instead of cash.
The tldr: the auction amounts to a legal maneuver that passes the property to the seller's original lender, owed the $200m, after having having already turned down offers in the $150m+ range.
Hackers tried to break into the World Health Organization earlier in March, as the COVID-19 pandemic spread, Reuters reports. Security experts blame an advanced cyber-espionage hacker group known as DarkHotel. A senior agency official says the WHO has been facing a more than two-fold increase in cyberattacks since the coronavirus pandemic began.
Additional $15M will go to third parties and nonprofits
The death toll in Italy’s coronavirus outbreak today passed 1,000. Schools throughout Italy are completely shut down, which is reportedly driving a surge in internet traffic as bored kids forced to stay indoors turn to online games.
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There are few things more satisfying than the clickety-clack of an old keyboard. So old, in fact, that it’s really more of a typewriter sound and feel than that of a keyboard. But if you want to enjoy the benefits of both, check out this Rymek Retro Bluetooth 3.0 Mechanical Keyboard. Bringing you an impressive […]