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Private jets being used to send kids to summer camp

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The exorbitant spending on children’s summer camp visits is reaching new heights, with some elite New York parents shelling out up to $30,000 to $45,000 for a round trip on private jets.

Last weekend alone, around 35 such flights were recorded between private airports in posh locations like the Hamptons and Westchester to landing strips near elite summer camps in Maine.

These astronomical costs are for the sole purpose of visiting their kids for a single day during the camp season. Reports suggest that some parents have even resorted to bribing camp officials to secure a spot for their child at these exclusive camps. As per estimates, collectively, these parents spent anywhere from $1 million to $1.5 million for these brief visits.

Although private jet charters have seen reduced demand since the pandemic’s end, there remains a consistent interest among a select group of affluent individuals, exemplified by the trend of camp visiting day extravagance.

While the children are urged to explore the natural beauty of the campgrounds, their parents conveniently bypass the scenic route by flying in and out on private jets. This ostentatious display of wealth raises eyebrows and underscores the extreme lengths some parents are willing to go for their children’s summer experiences.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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