October 15, 2021
Happy Friday. Bet on yourself.
🌤️ Today's weather: Don't look now, but it might be gorgeous this weekend.
🎵 Sounds like: "The Gambler" by Kenny Rogers.
🏎️ Situational awareness: Several streets in downtown will be closed this weekend thanks to a Redbull racing event.
Today's newsletter is 775 words — a 3-minute read.
1 big thing: 🔎 Looking into Dallas' missing data
The City Council is planning to investigate the loss of more than 8 million data files that largely contained information related to the Dallas Police Department's family violence unit.
Why it matters: This is the next step in determining the full scope of how the data loss occurred and how it could affect criminal investigations and cases filed with the Dallas County district attorney's office.
- 17,494 cases could be affected by this data loss. The DA's office has prioritized investigating cases scheduled for trial.
Driving the news: A council committee interviewed three firms and selected Kirkland & Ellis, which employs Erin Nealy Cox, the former U.S. Attorney for the Northern District of Texas.
- The full council will make the final determination on Oct. 27.
Cox told the committee that an investigation into the data loss would take 60 days and the firm would need another 30 days to complete its final report.
Context: The Dallas County DA's office sent a memo in August to the local defense bar after discovering investigative files had been lost at the Dallas Police Department.
- The data loss occurred in late March, but the mayor and council only learned of the incident from the DA's memo.
Then in September, a 131-page report issued by city staff said a second data loss was discovered during an audit in August. Both losses occurred while an IT staff member was backing up the data.
- "The City of Dallas' backup process has no explicit data management procedures for the archival of data," the report says.
The bottom line: If the council approves the contract, having the former U.S. attorney working on the investigation will bring a prosecutor's eye to the data loss and its impact on the community.
2. 💸 Kyle Bass' bad bet
Dallas hedge fund manager Kyle Bass was named in an investigation by the U.S. Securities and Exchange Commission linked to his bet against the Hong Kong dollar, according to Bloomberg.
Why it matters: Bass' bad bet on China involved funding linked to former Trump adviser and longtime Asia-antagonist Steve Bannon.
What happened: GTV Media Group, a startup that sought to expose corruption in the Chinese government, raised more than $300 million in the beginning of last year.
- A few months later, $100 million of that money was allegedly transferred to a hedge fund operated by Bass' Hayman Capital.
- The fund ultimately lost tens of millions shorting Hong Kong currency.
The intrigue: In July of last year, Bloomberg reported that some White House advisers were urging Trump to undermine the Hong Kong dollar — which would have resulted in a windfall for the fund — though that never happened.
What they're saying: A lawyer representing Bass called the information Bloomberg reported "inaccurate."
Flashback: Bass is best known for his immensely profitable bets against subprime mortgages before the 2008 housing crisis.
- He was featured in the 2011 Michael Lewis book "Boomerang."
3. 💰 Who lost $140,000 on one play of a Cowboys game?
Speaking of bad bets, we're still wondering who wagered $75,000 on Cowboys running back Ezekiel Elliott scoring a touchdown during the season opener against Tampa Bay a few weeks ago.
- The online prop bet would have paid out just over $140,000.
Call to action: If you know the person who made this bet, or even if you have a wild speculation about who it might be, we want to hear from you: [email protected].
4. Burnt Ends: Bite-size news bits
😫 Residents at the Dallas apartment complex partially destroyed in a gas explosion last month returned to find their homes had been burglarized. (WFAA)
🤔 Police in Ellis County found more than $660,000 worth of stolen vehicles and parts. (NBC DFW)
🤑 Researchers at UT Southwestern are commercializing gene therapies for rare diseases. (Texas Monthly)
😢 Cosmic Cafe is closing this weekend, after 25 years. (CultureMap)
💬 Quote du jour:
"It is your choice, it is absolutely positively up to you. But, there's consequences that come with that." — Mavericks owner Mark Cuban on his decision to require all of his employees to be vaccinated. (The Hill)
5. 🎡 Photo of the day: State fair at night
👀 This weekend is your last chance to see the fair, and if you have a chance you should really see it at night.
6. 🍹 One cocktail to go: Meserita
This week's drink adventure takes us to Mesero, which has six locations across our sprawling metro area.
- Mesero's cocktails are great, but sometimes you need a straight-up margarita.
We've had a lot of beverages on this menu, but we always order this one:
- What to order: Meserita — Herradura silver, Cointreau, citrus
- Where: Mesero, 5330 West Lovers Lane, Dallas
- Cost: $12
- Six word review: Makes you ask, "What's a workweek?"
Know of a drink we should try? Hit reply and tell us.
🧐 Mike is spending the weekend thinking about how to make this newsletter even better.
🍷 Tasha is making Mike pour her wine if she has to listen to all his ideas.
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