Christmas With Beyonce; Spirit Bankrupt; Boeing Lays off 400; Paul Defeats Tyson in "Fight"; McDonald's Spending $100m After E. coli Outbreak

Leave It to Providence. Providence, as we all know, is a Taleggio-style cheese made of pasteurized goat's milk, produced by Goat Lady Dairy in North Carolina. During its three-month maturation it is brushed and turned by hand every week until it develops a hard exterior, just like Mike Tyson.

Providence is also another word for good luck, which seems hard to come by in the airline industry lately. Or the fast-food industry. But there’s good news for the Christmas industry! Check out today’s cheddlines!

• Ho Ho Ho: Spend Christmas with Beyoncé on Netflix
• Spirit Airlines Is Dead! Long Live Spirit Airlines!
• Boeing to Lay Off 400 Amid Continued Problems
• Jake Paul Defeats Mike Tyson in Netflix “Fight”
• McDonald's Investing $100M to Lure You Back After E.coli Outbreak

May you also “win on points” today.

—Matt Davis, Need2Know Chedditor

P.S. We’ve got an animatronic frog coming to life on our ‘gram !

Quote of the Day

“He’s the G.O.A.T. I look up to him.” — Jake Paul

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1. Ho Ho Ho: Spend Christmas with Beyoncé on Netflix

Last Christmas, I gave you my heart. This Christmas, Beyoncé is set to deliver a live performance during the NFL halftime show in Houston, streamed by Netflix. Hosting the event in her hometown at NRG Stadium, Beyoncé will grace the stage, as she graces everything, while the Houston Texans play the Baltimore Ravens. This show marks her first live performance of songs from her latest album, "Cowboy Carter."

Released in February with its debut ad shown during the 2024 Super Bowl, "Cowboy Carter" has already clinched her 11 Grammy Award nominations, setting a record for the most received by a female artist in a single year. The album blends influences from country music, pop, and R&B, and the Christmas Day show is also anticipated to feature several special guests from these genres.

Netflix is expanding its live entertainment portfolio, having just streamed a high-profile “boxing” match, though not without technical "challenges." The streaming giant, which boasts 283 million subscribers, aims to establish a new tradition with its exclusive streaming of two NFL Christmas games, also including a clash between the Kansas City Chiefs and the Pittsburgh Steelers. Read More

2. Spirit Airlines Is Dead! Long Live Spirit Airlines!

Spirit Airlines announced its filing for Chapter 11 bankruptcy protection, aiming to restructure amid a slew of financial challenges exacerbated by the pandemic, increased competition, and failed sale attempts. The largest U.S. budget airline detailed significant financial losses totaling over $2.5 billion since 2020, with looming debt payments amounting to over $1 billion due by 2025–26. Despite the daunting "challenges," Spirit plans to continue its operations without interruption.

The airline reassured customers that their bookings and frequent-flyer points would remain valid and affirmed its commitment to pay its employees and vendors throughout the bankruptcy process. In other words, it sounds like this could be one of those “we’re bankrupt, but only because we want to be” sorta bankruptcies. Unlike my mate Andy's.

In efforts to stabilize its financial footing, Spirit has secured a $350 million equity investment from existing bondholders, who will convert $795 million of debt into stock. They also agreed to extend a $300 million loan to assist the airline during its restructuring phase.

The stock is down 98 percent since its high a decade ago but still, that doesn’t sound totally bankrupt to me… #NotFinancialAdvice Read More

3. Boeing to Lay Off 400 Amid Continued Problems

Boeing, facing financial "challenges" and dealing with the aftermath of an eight-week strike, is making substantial workforce reductions. Over 400 members of its professional aerospace labor union, the Society of Professional Engineering Employees in Aerospace, have received layoff notices in what Boeing announced last month as a 10% cut in its workforce—approximately 17,000 positions.

The bad news is that 10% of 17,000 is 1,700. So, 1,300 more people are also about to get fired. #math Although the employees will remain on the payroll until mid-January, Boeing CEO Kelly Ortberg has emphasized the need to "reset" workforce levels to the company's financial realities. Despite these layoffs coinciding with the end of a machinists' strike, Ortberg has clarified that the current situation is due to “overstaffing” rather than the strike itself. I’m sure that’s of great consolation to the overstaff.

Affected employees will get severance, typically equivalent to one week of pay per year of service, as well as career transition services and subsidized health benefits for up to three months. Could be worse, right? Read More

4. Jake Paul Defeats Mike Tyson in Netflix “Fight”

I stayed up until well past my bedtime on Friday night to watch Jake Paul win on points against 58-year-old former heavyweight champion Mike Tyson in Arlington, Texas. The bout took place at the AT&T Stadium before a live audience of more than 72,000. I was so annoyed by the outcome, like almost every other human being on the planet.

Paul, a YouTuber turned "professional" "boxer," dominated the "contest," winning with judges scoring the fight 80–72, 79–73, and 79–73. Paul’s record now stands at 11–1, including seven knockouts, and he notably becomes only the sixth boxer to defeat the legendary Tyson in the ring. The best bit of the whole thing was when Mike Tyson accidentally flashed his bare butt to the Netflix interviewers. The next best bit was when he did an interview with a kid and went off deep into existentialism: “We’re nothing. We’re dead.” It’s amazing.

Next up, Jake Paul wants to exhume the corpse of Muhammad Ali. He’s also mooted running against Jimmy Carter for president. Every single person watching wanted Tyson to knock Paul out for being so annoying, but the truth is, he’s nearly 60. He can barely chew the ear off a corn cob.

After the fight, Paul expressed his deep respect for Tyson, who had returned to a professional match for the first time in 19 years and fought with visible aggression, particularly in the third round where he landed solid punches. Still, Paul managed to rally back, delivering strong hits that shook Tyson.

As the fight proceeded, Tyson's stamina appeared to wane, and he lacked the explosive power and mobility he was once famous for. His legs were just not moving, and my mates and I in the WhatsApp group were all saying, “He looks like he might get knocked out.”

To his credit, he stayed standing. But by the end, which couldn’t come soon enough, it looked like Paul was taking it easy on the old guy, and I felt genuinely sorry for him. But not too sorry. Tyson pockets $20 million as compensation, while Paul takes home double that.

Originally set for July, the fight was delayed after Tyson suffered an ulcer flare-up that nearly killed him. The event was also significant for Netflix as it marked their first foray into live boxing events.

Technical "challenges" marred the streaming experience for many viewers, with reports of buffering, outages, and audio problems. I had to watch the spinning wheel of death a few times, but I stayed through to the end, just like the rest of you suckers.

“First and foremost, Mike Tyson, it’s such an honor,” Paul told Tyson after the match. “He’s the G.O.A.T. I look up to him, I’m inspired by him, and we wouldn’t be here today without him. This man is an icon and it’s just an honor to be able to fight him.” Read More

5. McDonald's Investing $100M to Lure You Back After E.coli Outbreak

McDonald’s has announced a significant $100 million investment plan aimed at regaining customer trust and driving traffic back to its restaurants following a damaging E. coli outbreak. The outbreak, linked to slivered onions on Quarter Pounders, has severely impacted the brand's sales and reputation. The outbreak, which federal health officials traced back to onions supplied by Taylor Farms in California, led to at least 104 people falling ill, with 34 hospitalizations and one, er… “fatality”… reported across Colorado, Montana, Nebraska, and New Mexico.

The incidents occurred between September 12 and October 21. Additionally, four individuals developed a severe kidney condition as a complication of the infection. Awkward. McDonald's removed the implicated Quarter Pounders from its menus in several states. The company has not only identified an alternative supplier for the 900 affected restaurants but also recommenced serving the iconic burger with slivered onions nationwide over the past week. Out of the total investment, $65 million is earmarked for supporting the franchises most "challenged" by the outbreak. The rest will go to “boo buckets,” presumably. Read More

Matt Davis is a writer who lives with his wife and son in New York.