The University of Georgia&#8217;s football team has rejected an invitation from President <a href="https://www.dailywire.com/topic/joe-biden" target="_blank" rel="noopener">Joe Biden</a> to celebrate their blowout victory in the national championship game against Texas Christian University.
The team was invited to visit with first lady Jill Biden on June 12 for &#8220;College Athlete Day,&#8221; according to a <a href="https://www.ajc.com/politics/uga-football-team-declines-invitation-to-white-house-celebration/MIHJVHY5YNHYTJSDDUF633XBAI/" target="_blank" rel="noopener">report</a> from the Atlanta Journal-Constitution. However, the team said in a statement that their calendar is already full.
“The University of Georgia first received on May 3 an invitation for the Bulldog football team to visit the White House on June 12,” the statement said. “Unfortunately, the date suggested is not feasible given the student-athlete calendar and time of year.”
The report noted that the team&#8217;s decision not to go came after months of criticism of the White House from fans of the team and Republicans for failing to invite the team sooner.
The entire Georgia congressional delegation sent a <a href="https://allen.house.gov/news/documentsingle.aspx?DocumentID=5470" target="_blank" rel="noopener">letter</a> to the White House back in January urging White House officials to recognize the team at their “earliest convenience.” The group noted that the Georgia&#8217;s 2021 national championship team did not get to visit the White House due to COVID restrictions.
The letter from Rep. Earl “Buddy” Carter (R-GA) was signed by Sen. Raphael Warnock (D-GA), Sen. Jon Ossoff (D-GA), and Reps. Barry Loudermilk (R-GA), Henry C. “Hank” Johnson (D-GA), Austin Scott (R-GA), Sanford Bishop (D-GA), Rick Allen (R-GA), Nikema Williams (D-GA), Marjorie Taylor Greene (R-GA), David Scott (D-GA), Drew Ferguson (R-GA), Lucy McBath (D-GA), Andrew Clyde (R-GA), Mike Collins (R-GA) and Rich McCormick, M.D. (R-GA).
&#8220;We write to request you host the 2023 National Collegiate Athletic Association (NCAA) College Football Playoff National Champions, the University of Georgia Bulldogs, for a White House ceremony at your earliest convenience,&#8221; the letter said. &#8220;The Georgia Bulldogs, led by head coach Kirby Smart, completed a historic season in which they accomplished a 15-0 record and won their second national championship in the same number of years.&#8221;
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&#8220;For years, the college football national champion has had the high honor of being hosted, by the President, at the White House,&#8221; the letter later added. &#8220;Due to COVID-19 constraints, the 2021-22 University of Georgia national championship team was unable to come to D.C. It is our hope that this repeat championship team can join the many teams prior that have been honored by the President.&#8221;

COLLEGE FOOTBALL: JAN 09 CFP National Championship

Georgia’s National Championship Football Team Rejects Biden Invite To White House Celebration

Georgia's National Championship Football Team Rejects Biden Invite To White House Celebration

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Dollar General

Georgia

Joe Biden

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Mega party supply <a href="https://thehill.com/policy/finance/3818150-party-city-files-for-bankruptcy-protection/" target="_blank" rel="noopener">shop</a> Party City <a href="https://www.usatoday.com/story/money/2023/01/18/party-city-bankruptcy-filing-news/11074820002/" target="_blank" rel="noopener">filed</a> for bankruptcy protection on Tuesday.
The company, Party City Holdco Inc. (PCHI) <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001592058/000119312523009847/d643228d8k.htm" target="_blank" rel="noopener">filed</a> for Chapter 11 Bankruptcy protections along with some of its domestic subsidiaries, according to a press <a href="https://www.prnewswire.com/news-releases/pchi-enters-into-restructuring-support-agreement-with-senior-secured-noteholder-ad-hoc-group-to-advance-transformation-and-enhance-market-leadership-from-strengthened-financial-position-301724164.html" target="_blank" rel="noopener">release</a> on Tuesday. Some other subsidiaries and its Anagram business are not included in the bankruptcy process. The company brought on a financial advisor in November.
Party City also said that it has struck a deal with an ad hoc group in order to help with the restructuring and cut down on its debt. The company noted that the restructuring was “[p]re-negotiated” and “[e]xpedited,” and they anticipate it will cut down on debt and best utilize its liquidity. It <a href="https://www.cnn.com/2023/01/18/business/party-city-bankruptcy/index.html" target="_blank" rel="noopener">noted</a> that it has $150 million from the ad hoc group that will let it keep its stores going. 
&#8220;In the face of pandemic headwinds, a global supply chain crisis, and other macroeconomic challenges that have faced our industry, we have made significant strides in PCHI&#8217;s ongoing transformation – establishing a solid foundation for long-term growth and continued success as the market leader in the celebrations space,&#8221; Brad Weston, Chief Executive Officer of PCHI said in the release. &#8220;Today&#8217;s action to strengthen PCHI&#8217;s balance sheet will bolster our ability to further advance our strategic priorities and continue to innovate and elevate the customer experience.”
&#8220;As we take this important step to put our business on stronger financial footing for the future, we are as committed as ever to inspiring joy by making it easy for our customers to create unforgettable memories. We appreciate the commitment of our team members and the continued support of our partners as we further enhance our position as the &#8216;go to&#8217; one-stop-shop for celebrating life&#8217;s special moments,” Weston noted. 
Party City stores are still open for people to shop at, as well as its online website. The company anticipates the restructuring process to be done in the second quarter of this year. 
It is also filing motions in order to keep up its everyday workings, which involve its requests to keep paying its workers and giving them benefits. It also wants to “honor customer programs and policies.” 
While Party City has grown, it has also had to come to terms with the increasing popularity of e-commerce companies and major retailers, CNBC <a href="https://www.cnbc.com/2023/01/18/party-city-files-for-bankruptcy-to-restructure-piling-debt.html" target="_blank" rel="noopener">reported</a>. It didn’t expand its online platform, but rather spent money maintaining 800 shops around the United States. 
“They’re competing against Walmart, and Target and Amazon and the dollar stores and grocery stores,” Joe Feldman, an analyst at Telsey Advisory Group, said. He used to cover Party City since the company went public in 2015, but stopped at the end of last year.

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Party City Issues Filing For Bankruptcy Protection

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Following Dollar Tree’s decision to sell its products for $1.25, Dollar General is launching a new store chain that will charge higher prices.
After testing 30 “Popshelf” storefronts, the retail firm will open 1,000 more in the next four years. <a href="https://www.cnn.com/2021/12/02/business/dollar-general-popshelf/index.html">CNN Business</a> reported:
<blockquote>Dollar General hopes the new concept will help it attract different customers than its traditional base of rural shoppers making about $40,000 a year. Popshelf stores are targeted for women in suburban areas with an annual household income between $50,000 and $125,000…
Dollar General executives said during an earnings call Thursday that they were accelerating their Popshelf strategy because the initial stores were exceeding expectations and were not taking away sales from its main banner.
Although Dollar General&#8217;s 18,000 stores sell mostly food, snacks, cleaning products and home essentials, Popshelf stores are stocked with home furnishings, party items, toys and beauty products for $5 or less. These products are more profitable than food, and the Popshelf concept was born out of Dollar General&#8217;s pre-pandemic strategy to add higher-margin goods to its merchandise mix.</blockquote>
The expansion of Dollar General’s new chain occurs weeks after Dollar Tree <a href="https://www.dailywire.com/news/dollar-tree-will-raise-prices-to-1-25">announced</a> a price hike to $1.25 — ending its longstanding tradition of selling all goods for $1.
“For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made it one of the most successful retail concepts for three decades,” said the company. “However, as detailed in its September announcement, the Company believes this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers. This decision is permanent and is not a reaction to short-term or transitory market conditions.”
“The $1.25 price point, which will apply to a majority of Dollar Tree’s assortment, will enhance the Company’s ability to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials,” the company continued.
Dollar Tree chief executive Michael Witynski said that shoppers — who are “increasingly focused on value in this inflationary environment” — have demonstrated broad acceptance of the new price point, as well as “excitement about the additional offerings and extreme value we will be able to provide.”
As retailers <a href="https://www.dailywire.com/news/janet-yellen-admits-inflation-shouldnt-be-labeled-transitory">adjust</a> their strategies in response to high inflation, key policymakers — including Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell — have stopped using the word “transitory” to describe rising price levels.
“I am ready to retire the word transitory,” Yellen said at an event sponsored by Reuters. “I can agree that that hasn’t been an apt description of what we are dealing with.”
“So I think the word transitory has different meanings to different people,” Powell <a href="https://www.foxbusiness.com/politics/powell-fed-wrong-inflation-not-transitory">told</a> Senate Banking Committee Ranking Member Pat Toomey (R-PA) during a hearing. “To many, it carries a time, a sense of short-lived. We tend to use it to mean that it won’t leave a permanent mark in the form of higher inflation. I think it’s probably a good time to retire that word and try to explain more clearly what we mean.”

Dollar General Locations Ahead Of Earnings Figures

Dollar General Launches Higher-Price Store Chain As Dollar Tree Sells Items For More Than $1

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Georgia’s National Championship Football Team Rejects Biden Invite To White House Celebration

Party City Issues Filing For Bankruptcy Protection

Dollar General Launches Higher-Price Store Chain As Dollar Tree Sells Items For More Than $1