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Category: Industry News and Commentary

  • Nearest Green Distillery Founders Sidelined in Loan Dispute

    This is a tough one. The celebrated, Black-owned Nearest Green Distillery, founded by Fawn and Keith Weaver, is now under the control of a receiver following a significant loan dispute. A federal judge in Tennessee ordered the company into receivership on August 14th, effectively removing the founders from operational management for the time being.

    A $108 Million Loan Default

    The move comes after Farm Credit, the distillery’s lender, claimed the Weavers and their Uncle Nearest brand defaulted on over $108 million in loans. The situation escalated with concerns about impending missed payments, prompting the court’s intervention to “safeguard the disputed assets.”

    The judge acknowledged that the receivership could still allow the Weavers to continue marketing and building the Uncle Nearest brand, potentially mitigating any damage to the brand’s reputation. This comes after a recent gag order prevented the Weavers from selling any Uncle Nearest assets.

    Allegations of Misrepresentation and Deception

    A major point of contention is a $24 million increase in the loan amount, reportedly due to “misrepresentations of Uncle Nearest’s barrel inventory.” The Weavers have blamed their former CFO, Mike Senzaki, for this alleged deception, stating they were unaware of the false numbers. However, the judge found this aspect particularly troubling, noting that the loans might not be adequately secured if the barrels don’t exist as claimed.

    Farm Credit Mid-America initially sued in Tennessee, alleging a default on $100 million in loans. The Weavers, meanwhile, maintain they are “victims of fraud.” Both sides are expected to submit proposed receiver candidates by August 20th.

    This is a complex situation for a pioneering Black-owned business. What are your thoughts on the receivership and the allegations? Share your perspective in the comments below!

  • Denzel Washington on Cancel Culture: ‘Don’t Sign Up’

    In a world where public opinion and social media validation often feel paramount, legendary actor Denzel Washington is offering a refreshing perspective. He recently shared his candid thoughts on cancel culture, suggesting that the whole phenomenon is avoidable if you simply don’t engage with it. It’s a powerful reminder that staying true to your own path can be the ultimate shield.

    Walking His Own Path

    During a conversation with director Spike Lee about their upcoming film “Highest 2 Lowest,” the topic of cancel culture inevitably came up. Washington didn’t mince words, questioning the importance of public support: “Who cares? What made public support so important to begin with?” He added, “You can’t lead and follow at the same time, and you can’t follow and lead at the same time.”

    His core message is clear: if you’re not seeking external validation or signing up for the constant scrutiny of the public eye, you can’t really be “canceled.” “You can’t be canceled if you haven’t signed up. Don’t sign up,” he stated, emphasizing a philosophy of self-reliance and internal validation.

    Beyond Awards and Fame

    This isn’t the first time Washington has spoken about his detachment from the trappings of fame and awards. In a previous interview with “Jake’s Takes,” he admitted that his motivation isn’t driven by Oscars or accolades. “I don’t do it for Oscars. I really don’t care about that kind of stuff,” he confessed. He even shared that the physical awards themselves hold little significance for him, stating they’re just “next to the other one” and won’t matter on his “last day.”

    Despite his seemingly indifferent attitude towards awards, Washington has an impressive collection, including two Oscars, which speaks volumes about his talent and dedication to his craft. His perspective offers a valuable lesson in staying grounded amidst the often-fickle nature of Hollywood and public perception.

    What do you think of Denzel Washington’s take on cancel culture? Do you agree that not ‘signing up’ is the key? Share your thoughts in the comments below!