How a single mom of four switched careers to land a six-figure salary

After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. H


After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. H
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Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: chloe taylor
Keywords: news, cnbc, companies, learning, switched, experience, program, single, work, salary, mom, coding, land, careers, job, didnt, career, lance, sixfigure


How a single mom of four switched careers to land a six-figure salary

After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. “I have a teaching degree but (teaching) won’t pay the bills for a family of five – it’s just not an option,” she told CNBC. “I thought about nursing, but the biggest drawback was that it required going back to school for two years to get another degree – I didn’t have two years, I have kids and bills to pay.” Despite being a self-confessed technophobe, Lance decided to learn computer coding after a suggestion from her brother-in-law, taking the plunge into an entirely new career path. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. In an interview with CNBC, she shared her tips on achieving success in a new career.

Value your ‘soft skills’

Although a career change can set you back in terms of direct industry experience, Lance urged others not to underestimate the value of basic core capabilities that appeal to employers — like strong communication or leadership skills. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. “(That was) combined with having just coming out of a great program which gave me all the right tech skills.”

Be willing to learn

As well as considering how your skillset could be transferred to a new industry, Lance told CNBC that having the right attitude was a real asset when it came to landing a job with no direct experience. She said she was upfront about what she could and couldn’t do, taking the approach: “I don’t know a lot about it, but I do know a little bit – and I’m willing to learn more.” According to Lance, embracing those knowledge gaps and showcasing a desire for self-improvement could be just as valuable as experience to some employers. “For the job I got, the company was starting a new team that would be using new technology, so we’d all be learning whether they hired somebody with experience or not,” she said. “They wanted people who were capable of learning quickly and who could work and learn under pressure. Going through Coding Dojo proved I had those capabilities and that desire to keep learning.”

Work your own way

Although Lance didn’t feel intellectually limited while learning to code, she said comparing her own pace of work to others’ sometimes led to unnecessary frustration and could impact her confidence. “One challenge was the amount of time it took to get through everything. I don’t think I had trouble with the actual program, but I didn’t have any tech background, so every assignment would take me one and a half times as long as everyone else,” she told CNBC. “Some of the people in my group had played on computers since they were 12 — so the assignments only took 20 to 30 minutes for them to complete.” She said it was important to find your own way to get work done, rather than sticking to the chronological or seemingly “correct” method. Her coding program was organized into three sections, and when she initially attempted to do each assignment in order, Lance found herself falling behind. “I’d have to skip forward and go back again – that’s not a good strategy,” she said. Instead, she got through all of the reading and learning materials for each topic before attempting to complete an assignment. “Make sure you do the reading and homework way before you start struggling with (graded assignments and technical work),” she said. “And make sure you allow yourself enough time outside of class to get stuff done.” Lance also advised those considering a career change not to overestimate their own academic ability. “I was pretty good in school and didn’t have to study a lot,” she said. “I went into Coding Dojo thinking I could get it done quicker, underestimating how much time it would consume. (You have to let it) take as long as it takes.”

Seek support to switch career


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: chloe taylor
Keywords: news, cnbc, companies, learning, switched, experience, program, single, work, salary, mom, coding, land, careers, job, didnt, career, lance, sixfigure


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Lance Armstrong says his investment in Uber ‘saved our family’

After Lance Armstrong’s fall from grace cost him millions of dollars in lost endorsements and lawsuit settlements, one thing kept him on his feet: his investment in Uber. In 2009, the former pro cyclist invested $100,000 in Chris Sacca’s nascent venture capital firm, Lowercase Capital. Armstrong said the bulk of the money went to Uber, which at the time was valued at just $3.7 million. Today, as the company prepares for its IPO, banks have valued Uber at as much as $120 billion. At the time he i


After Lance Armstrong’s fall from grace cost him millions of dollars in lost endorsements and lawsuit settlements, one thing kept him on his feet: his investment in Uber. In 2009, the former pro cyclist invested $100,000 in Chris Sacca’s nascent venture capital firm, Lowercase Capital. Armstrong said the bulk of the money went to Uber, which at the time was valued at just $3.7 million. Today, as the company prepares for its IPO, banks have valued Uber at as much as $120 billion. At the time he i
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Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: lauren feiner
Keywords: news, cnbc, companies, employees, uber, investment, capital, saved, lowercase, saccas, armstrong, firm, invested, lance, valued, family


Lance Armstrong says his investment in Uber 'saved our family'

After Lance Armstrong’s fall from grace cost him millions of dollars in lost endorsements and lawsuit settlements, one thing kept him on his feet: his investment in Uber.

“It’s saved our family,” Armstrong told CNBC’s Andrew Sorkin in an interview aired on Thursday. In 2009, the former pro cyclist invested $100,000 in Chris Sacca’s nascent venture capital firm, Lowercase Capital. Armstrong said the bulk of the money went to Uber, which at the time was valued at just $3.7 million. Today, as the company prepares for its IPO, banks have valued Uber at as much as $120 billion.

At the time he invested in Sacca’s firm, Armstrong said, “I didn’t even know that he did Uber. I thought he was buying up a bunch of Twitter shares from employees or former employees, and the biggest investment in [the] Lowercase fund one was Uber.”


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: lauren feiner
Keywords: news, cnbc, companies, employees, uber, investment, capital, saved, lowercase, saccas, armstrong, firm, invested, lance, valued, family


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GOP tax plan hurts Republicans in New Jersey midterm House elections

As Republican Rep. Leonard Lance runs for re-election in a district Trump narrowly lost in 2016, he has kept the president at arm’s length. The fifth-term representative voted against the House GOP health-care plan after previously opposing Obamacare. But the tax plan Lance’s party passed last year is more thorny for the representative. The tax overhaul’s $10,000 limit on those tax breaks was the main reason Lance and 10 other GOP House members from California, New York and New Jersey opposed it


As Republican Rep. Leonard Lance runs for re-election in a district Trump narrowly lost in 2016, he has kept the president at arm’s length. The fifth-term representative voted against the House GOP health-care plan after previously opposing Obamacare. But the tax plan Lance’s party passed last year is more thorny for the representative. The tax overhaul’s $10,000 limit on those tax breaks was the main reason Lance and 10 other GOP House members from California, New York and New Jersey opposed it
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Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: jacob pramuk, kate sprague
Keywords: news, cnbc, companies, residents, hurts, tax, gop, representative, plan, lance, trump, elections, republicans, president, jersey, state, york, house, midterm


GOP tax plan hurts Republicans in New Jersey midterm House elections

BASKING RIDGE, N.J. — A short drive from President Donald Trump’s Bedminster golf club, where residents can hear helicopter blades whir when the president touches down at his “Summer White House,” Trump and the tax plan he signed into law last year will help to define one of this year’s pivotal House races.

As Republican Rep. Leonard Lance runs for re-election in a district Trump narrowly lost in 2016, he has kept the president at arm’s length. The fifth-term representative voted against the House GOP health-care plan after previously opposing Obamacare. He pushed for a less conservative immigration overhaul than the one the president has demanded.

But the tax plan Lance’s party passed last year is more thorny for the representative. It will nick many voters in his high-income, high-tax district, where residents take the largest average state and local tax, or SALT, deductions outside of New York and California. The tax overhaul’s $10,000 limit on those tax breaks was the main reason Lance and 10 other GOP House members from California, New York and New Jersey opposed it.

“I favored certain portions of [the tax plan.] … However, I want full deductibility of state and local taxes,” Lance, 66, told CNBC in August. “That’s an important issue here in New Jersey. And perhaps at an even more fundamental level, I have always been a deficit hawk.”


Company: cnbc, Activity: cnbc, Date: 2018-10-02  Authors: jacob pramuk, kate sprague
Keywords: news, cnbc, companies, residents, hurts, tax, gop, representative, plan, lance, trump, elections, republicans, president, jersey, state, york, house, midterm


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HGTV buys, plans to restore ‘Brady Bunch’ house and Lance Bass is cool with it

The “Brady Bunch” house goes to … HGTV! “One of our projects for HGTV will speak to those ‘Brady Bunch’ fans,” he said during the company’s second-quarter earnings call. “You may have heard that the house from the iconic series was recently on the market in California. I’m excited to share that HGTV is the winning bidder and will restore the Brady Bunch home to its 1970s glory as only HGTV can. The half-hour sitcom created by Sherwood Schwartz revolved around mom Carol Brady (Florence Henderso


The “Brady Bunch” house goes to … HGTV! “One of our projects for HGTV will speak to those ‘Brady Bunch’ fans,” he said during the company’s second-quarter earnings call. “You may have heard that the house from the iconic series was recently on the market in California. I’m excited to share that HGTV is the winning bidder and will restore the Brady Bunch home to its 1970s glory as only HGTV can. The half-hour sitcom created by Sherwood Schwartz revolved around mom Carol Brady (Florence Henderso
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Company: cnbc, Activity: cnbc, Date: 2018-08-08  Authors: sara m moniuszko, pg bauer-griffin, gc images, getty images
Keywords: news, cnbc, companies, tv, cool, house, bunch, brady, square, series, buys, singer, offers, winning, restore, bass, lance, hgtv, plans


HGTV buys, plans to restore 'Brady Bunch' house and Lance Bass is cool with it

The “Brady Bunch” house goes to … HGTV!

Discovery CEO David Zaslav announced Tuesday that the home improvement cable network was the winning bidder for the iconic house used for exterior shots of the popular 1970s TV series, according to CNN and Deadline.

“One of our projects for HGTV will speak to those ‘Brady Bunch’ fans,” he said during the company’s second-quarter earnings call. “You may have heard that the house from the iconic series was recently on the market in California. I’m excited to share that HGTV is the winning bidder and will restore the Brady Bunch home to its 1970s glory as only HGTV can. More detail to come over the next few months but we’ll bring all the resources to bear to tell safe, fun stories about this beloved piece of American TV history.”

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The house was hot on the market, with other offers coming in from stars including ‘N Sync singer Lance Bass, who says he was “heartbroken” when his deal fell through after the bidding deadline. In an Instagram post, he wrote that an undisclosed corporate buyer wanted the house “at any cost.”

Bass doesn’t seem to have any hard feelings, though. In a tweet published Tuesday, the singer explained, “How can you be mad at HGTV? My television is stuck on that channel.” He added, “Kudos, HGTV. I know you will do the right thing with the house. That was always my biggest worry. I can smile again.”

The three bedroom, three bathroom house sits at 11222 Dilling St. in North Hollywood and offers 2,477 square feet, according to its listing on Zillow. Per the property’s description, it rests on a lot of more than 12,500 square feet which includes “lush backyard gardens” and two master suites. “Whether inspired by the TV family or the real life surrounding neighborhood, this residence is a perfect postcard of American ’70s style and its special culture,” the listing promises.

The half-hour sitcom created by Sherwood Schwartz revolved around mom Carol Brady (Florence Henderson), her husband, Mike Brady (Robert Reed), and their blended family of six children.

—Contributing: Erin Jensen


Company: cnbc, Activity: cnbc, Date: 2018-08-08  Authors: sara m moniuszko, pg bauer-griffin, gc images, getty images
Keywords: news, cnbc, companies, tv, cool, house, bunch, brady, square, series, buys, singer, offers, winning, restore, bass, lance, hgtv, plans


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Lance Armstrong’s return to public – and corporate – favor

He has been building a media and event organizing brand over the last two years, and corporate sponsors are starting to take notice. Growing awareness of the widespread issue of doping in cycling may have helped shift attitudes, but Armstrong’s charm has also helped win back fans. The high listenership, and in turn sponsorship, that The Move is attracting may suggest a rebound in his public image. Sponsors of the show were also hesitant to directly address questions regarding Armstrong’s image i


He has been building a media and event organizing brand over the last two years, and corporate sponsors are starting to take notice. Growing awareness of the widespread issue of doping in cycling may have helped shift attitudes, but Armstrong’s charm has also helped win back fans. The high listenership, and in turn sponsorship, that The Move is attracting may suggest a rebound in his public image. Sponsors of the show were also hesitant to directly address questions regarding Armstrong’s image i
Lance Armstrong’s return to public – and corporate – favor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: william edwards, rebecca sapp, getty images
Keywords: news, cnbc, companies, patron, forward, started, armstrong, podcast, favor, corporate, tour, wedu, merchandise, cycling, return, lance, brand, public, armstrongs


Lance Armstrong’s return to public – and corporate – favor

Lance Armstrong is once again tackling a feat some would have considered impossible.

He has been building a media and event organizing brand over the last two years, and corporate sponsors are starting to take notice. Growing awareness of the widespread issue of doping in cycling may have helped shift attitudes, but Armstrong’s charm has also helped win back fans.

It’s a significant shift from recent years. The disgraced cyclist’s world came crashing down after he admitted in a 2013 interview with Oprah Winfrey to using performance-enhancing drugs during his career. The admission cost him tens of millions in endorsement deals and came after he was stripped of his seven Tour de France titles. He was banned from competitive cycling events for life, but he is now beginning to move forward as litigation from former sponsors winds down.

Armstrong’s company, called WEDU, hosts two podcasts — The Move and The Forward — puts on bike races in Texas and Colorado, sells merchandise through an online store, and offers a $60 subscription service. Subscribers gain access to exclusive content, including a live version of his podcasts and the ability to send questions to Armstrong and his guests on the show.

The Move podcast, which provides analysis of stages of the Tour de France and other cycling races, is currently ranked in the top 10 in the sports and recreation category on Apple’s iTunes. Armstrong and his co-host, JB Hager, started the podcast, then called Stages, during last year’s Tour, and it averaged 80,000 listeners a day and accumulated more than 5 million downloads, according to WEDU. This year’s show is on pace to match or potentially surpass those numbers, although the numbers aren’t fully comparable due to a change in how they are calculated, WEDU said.

The popularity of the podcast has caught the attention of multiple companies, including title sponsor Patron, High Brew Coffee, Helix and Onnit, which are paying for airtime on the show.

Armstrong told CNBC last week in a phone interview that between advertising, merchandise and subscription sales, he expects the podcast will bring in between $700,000 and $1 million over the course of this year’s three-week Tour de France.

“In five days we’ve exceeded what we sold the entire three weeks last summer in merchandise,” he said at the time.

Armstrong once carried the marketing clout that made Trek Bicycle a billion-dollar brand and earned him multimillion dollar deals with companies like Nike and Anheuser-Busch. The high listenership, and in turn sponsorship, that The Move is attracting may suggest a rebound in his public image.

“I think the endorsements he’s been getting is a reflection of his journey,” said James Bale, an endurance sports writer based in the U.K. who listens to The Move. “With films like ‘Icarus’ coming out, the more people realize how much of a widespread problem doping has been, the less of an individual pariah he becomes.”

Carol Vails, a salesperson at the Atlanta Cycling bike shop and a listener of The Move, said she thinks Armstrong’s personality on the podcast has helped his image and boosted his audience numbers.

“It seems like there’s less vitriol towards him, I think that because he’s so entertaining and they see him more as a human, you know with his family, he has children he’s very proud of,” she said. “So maybe they see him more as a human being now, a guy that they would like to go have a beer with.”

Armstrong said he thinks his first podcast, The Forward — a non-cycling-focused show which profiles personalities from a range of occupations and explores overcoming hardship — started to change perceptions of him.

“I can’t even tell you how many emails we get where people are like, ‘Look, I was your biggest fan, I was devastated, I hated you, I started listening to The Forward, and I’m back,” he said.

Despite any potential improvement in his image, however, Armstrong still remains a controversial figure in the greater public’s eye, and the niche nature of The Move podcast mirrors the audience-tailored endorsement deals it has scored.

“High Brew Coffee has always been a brand ‘for those who do’ and we believe that the cyclists and triathletes listening to The Move are some of the world’s biggest ‘do-ers,’” said Mari Johnson, High Brew Coffee’s chief marketing officer.

Sponsors of the show were also hesitant to directly address questions regarding Armstrong’s image in relation to their partnerships with the podcast.

“Lance approached us with the idea of calling out the ‘Patron’ in every stage of the race as part of his wildly popular podcast, and we thought it was a fun and interesting play on the phrase, recognizing the outstanding rider of the day,” said Lee Applbaum, global chief marketing officer Patron Spirits. “Lance is an avid tequila fan and supporter of our brand in an organic capacity, and this is a clever extension of it. Nothing more and nothing less.”

In the Tour de France preview show of The Move, Armstrong acknowledged the growing sponsorship interest this year compared to in 2017.

“This wasn’t just a new show, it was a controversial show because it was my show. And so we couldn’t get support,” he said in front of a live audience in Santa Fe, New Mexico. “For me it was really humbling that it was almost a validation. I mean you had a show that had 5 million downloads in three weeks. People paid attention to that, and so for me personally, just the arc of this story — I understand where we all have lived and sat with this story through the years — and to have people lean back in is again such an honor and super humbling.”

Armstrong said his team built the WEDU site in-house, and has complete control over subscriptions and merchandise sales.

Down the line, Armstrong said he does not intend on expanding the event side of the business, but will continue to focus on growing its media side.

“The media side, obviously we can monetize that through shows, the merch we can monetize, the membership we can monetize,” he said. “But we’re also not trying to — nobody here is trying to be the next Google. We’re kind of happy, we’re having fun with this and life’s pretty comfortable.”


Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: william edwards, rebecca sapp, getty images
Keywords: news, cnbc, companies, patron, forward, started, armstrong, podcast, favor, corporate, tour, wedu, merchandise, cycling, return, lance, brand, public, armstrongs


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US government seeks more payback in Lance Armstrong case

Postal Service more than 14 years ago. Armstrong settled out of the case in April by agreeing to pay nearly $7 million. As an American citizen, Armstrong spent years fighting the case with his attorneys before deciding to end it with a payment. The government also seeks a separate default judgment against Bruyneel and the other remaining defendant in the case, Tailwind Sports, which dissolved in 2007. After years of denials, Armstrong confessed to doping in January 2013 during a televised interv


Postal Service more than 14 years ago. Armstrong settled out of the case in April by agreeing to pay nearly $7 million. As an American citizen, Armstrong spent years fighting the case with his attorneys before deciding to end it with a payment. The government also seeks a separate default judgment against Bruyneel and the other remaining defendant in the case, Tailwind Sports, which dissolved in 2007. After years of denials, Armstrong confessed to doping in January 2013 during a televised interv
US government seeks more payback in Lance Armstrong case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: brent schrotenboer, pool, afp, getty images
Keywords: news, cnbc, companies, usa, lance, million, tailwind, postal, seeks, payback, armstrong, service, judgment, bruyneel, cycling, case


US government seeks more payback in Lance Armstrong case

The U.S. government is seeking $1.2 million from Lance Armstrong’s former cycling team manager to wrap up a lawsuit that accused him and Armstrong of ripping off the U.S. Postal Service more than 14 years ago.

In court papers filed Monday, U.S. Justice Department attorneys asked a federal judge for a civil default judgment against Johan Bruyneel, who was at Armstrong’s side during all seven of his tarnished victories in the Tour de France.

The government says Bruyneel is personally liable for $1.2 million and could be on the hook for an additional $451,000, along with Tailwind Sports, the defunct company that owned their cycling team.

“Bruyneel was unjustly enriched by his fraud and is liable to the United States for the payments it made to him,” the government stated in the court filings Monday.

Read more from USA Today:

Rajon Rondo joining LeBron James in Los Angeles, but what does it mean for Lonzo Ball?

Nigeria captain John Obi Mikel’s father kidnapped during World Cup

Terrell Owens will deliver his Hall of Fame speech at UT-Chattanooga instead of Canton

The U.S. government filed a civil lawsuit against Armstrong, Bruyneel and Tailwind Sports in 2013, alleging that they defrauded the Postal Service, the cycling team’s sponsor. Armstrong settled out of the case in April by agreeing to pay nearly $7 million.

The Postal Service paid $32.3 million to sponsor the team from 2000 to 2004 but said in the lawsuit that it never would have paid that if it had known the team was using banned drugs and blood transfusions to cheat in races.

Now the government is chasing a loose end with Bruyneel, who “directed and facilitated” the team’s illicit doping program, according to the filing.

But the larger question is whether the government will ever be able to get this money from him, even if a judge grants the government’s request. Bruyneel, a Belgian, appears to be betting that the U.S. government has no enforcement power over him in this case and won’t be able to collect on such a judgment against him overseas.

As an American citizen, Armstrong spent years fighting the case with his attorneys before deciding to end it with a payment.

By contrast, Bruyneel appeared to make a strategic decision to ignore the lawsuit starting in 2014, when he notified the court that he had instructed his attorneys in the case to withdraw as his representatives. He recently has lived in London and Madrid and appears to believe he’s essentially immune to a civil judgment handed down by an American court.

It is “unlikely that default judgment like this would be enforced overseas,” said Linda Silberman, a transnational law expert and law professor at New York University. Silberman told USA TODAY Sports that such judgments still present risks for those in other countries, including the possibility that their assets might come into the USA, “where enforcement is likely to be required.”

Bruyneel didn’t immediately return a message seeking comment. The government previously sought to recoup money for the Postal Service in triple – nearly $100 million – before reaching a settlement with Armstrong to end the case just weeks away from its scheduled trial in May.

The government said Bruyneel, an employee of Tailwind, received nearly $2 million from Tailwind between 1999 and 2004 in salary and bonuses. The Postal Service “paid 60% of Tailwind’s expenses, including the payments to Bruyneel. Accordingly, Bruyneel was unjustly enriched by his fraud and is liable to the United States for the payments it made to him through Tailwind, or $1,228,700,” the government filing states.

The government also seeks a separate default judgment against Bruyneel and the other remaining defendant in the case, Tailwind Sports, which dissolved in 2007. It is seeking an additional $451,000 in that request for violations of the False Claims Act – $11,000 in penalties for each of the 41 claims Tailwind submitted for payment from the Postal Service from 2000 to 2004.

“Because Bruyneel and Tailwind defaulted, the well-pleaded allegations in the complaint are deemed admitted by them,” the government stated.

A judgment against Tailwind also only might be symbolic because it no longer exists. In 2016, a clerk for the U.S. District Court in Washington, D.C., declared Bruyneel and Tailwind Sports to be in default in the case after they failed to answer to the lawsuit.

The request for the $451,000 judgment against Tailwind and Bruyneel was joined by Paul Scott, the attorney for Floyd Landis, Armstrong’s former cycling teammate and another confessed doper. Landis is acting as a government whistleblower in the case and would be entitled to an unspecified amount if the request is granted. Landis and his attorneys were owed $2.75 million as part of Armstrong’s total settlement payment of $6.65 million. The government would keep the remaining $3.9 million, according to settlement terms.

After years of denials, Armstrong confessed to doping in January 2013 during a televised interview with talk-show host Oprah Winfrey.

Armstrong, 46, has been banned from sanctioned cycling events for life and ended up paying millions to fight or settle fraud allegations against him through the years. “In excess of 100 mil,” Armstrong said in an e-mail to USA TODAY Sports in January.


Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: brent schrotenboer, pool, afp, getty images
Keywords: news, cnbc, companies, usa, lance, million, tailwind, postal, seeks, payback, armstrong, service, judgment, bruyneel, cycling, case


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Lance Armstrong agrees to $5 million settlement of government lawsuit

As part of the settlement, Armstrong also will pay $1.65 million to Floyd Landis, his legal enemy and former cycling teammate. Postal Service, which paid $32.3 million to sponsor Armstrong’s cycling team from 2000 to 2004, much of which went into Armstrong’s pocket. After surviving cancer, Armstrong wore the Postal Service jersey at the height of his fame in professional cycling. The means the government recoups $3.9 million out of $6.65 million paid by Armstrong in the settlement. Before this s


As part of the settlement, Armstrong also will pay $1.65 million to Floyd Landis, his legal enemy and former cycling teammate. Postal Service, which paid $32.3 million to sponsor Armstrong’s cycling team from 2000 to 2004, much of which went into Armstrong’s pocket. After surviving cancer, Armstrong wore the Postal Service jersey at the height of his fame in professional cycling. The means the government recoups $3.9 million out of $6.65 million paid by Armstrong in the settlement. Before this s
Lance Armstrong agrees to $5 million settlement of government lawsuit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-20  Authors: brent schrotenboer, getty images
Keywords: news, cnbc, companies, settlement, service, landis, case, postal, million, agrees, paid, lawsuit, legal, lance, armstrong, doping


Lance Armstrong agrees to $5 million settlement of government lawsuit

Former cyclist Lance Armstrong has agreed to pay $5 million to the federal government to settle the government’s civil fraud lawsuit against him, just weeks before the case was scheduled to go to trial with nearly $100 million at stake.

As part of the settlement, Armstrong also will pay $1.65 million to Floyd Landis, his legal enemy and former cycling teammate.

Landis’ attorney, Paul Scott, confirmed Landis and his legal team will receive $2.75 million total from the deal, including a $1.1 million cut from the government’s $5 million recovery. Landis, who confessed to doping in 2010, is the whistleblower who brought this case to the government’s attention that year.

The trial was scheduled to begin May 7 in Washington, D.C. The Justice Department issued a statement Thursday saying “no one is above the law.”

More from USA Today:

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“A competitor who intentionally uses illegal (performance-enhancing drugs) not only deceives fellow competitors and fans, but also sponsors, who help make sporting competitions possible,” said a statement from Chad Readler, acting Assistant Attorney General for the Justice Department’s Civil Division. “This settlement demonstrates that those who cheat the government will be held accountable.”

The federal government had sued Armstrong in 2013, a few months after he admitted to extensive use of performance-enhancing drugs and blood transfusions in a televised interview with talk-show host Oprah Winfrey. The government filed the suit on behalf of the U.S. Postal Service, which paid $32.3 million to sponsor Armstrong’s cycling team from 2000 to 2004, much of which went into Armstrong’s pocket.

Armstrong said in a statement that he is happy to have “made peace with the Postal Service.” After surviving cancer, Armstrong wore the Postal Service jersey at the height of his fame in professional cycling.

“While I believe that (the USPS) lawsuit against me was meritless and unfair, and while I am spending a lot of money to resolve it, I have since 2013 tried to take full responsibility for my mistakes and inappropriate conduct, and make amends wherever possible,” he said. “I rode my heart out for the Postal cycling team, and was always especially proud to wear the red, white and blue eagle on my chest when competing in the Tour de France. Those memories are very real and mean a lot to me.”

The government had sought to recoup the $32.3 million in triple under the False Claims Act – nearly $100 million. It said the Postal Service never would have paid for the sponsorship if it had known Armstrong and his teammates were doping in violation of the team’s sponsorship contract.

Armstrong, 46, had falsely denied doping for more than a decade before his confession. From the government’s point of view, he lied about it for so long to keep getting paid at the expense of the Postal Service. He did not face prison if he was found liable in this case, but could have face significant financial penalties and damages.

The Justice Department declined to file a criminal case against him in 2012 and instead opted to join a lawsuit originally filed under seal in 2010 by Landis, who also was the subject of a separate fraud case by the government.

As a government whistleblower in this case, Landis stood to get up to 25% of the cut. Scott confirmed to USA TODAY Sports that the settlement calls for payment of $5 million to the United States and $1.65 million to Landis and his attorneys. Additionally, Landis will get a 22% cut of the government’s $5 million recovery: $1.1 million, for a total of $2.75 million to Landis and his legal team. The means the government recoups $3.9 million out of $6.65 million paid by Armstrong in the settlement.

“I am pleased with the settlement and gratified to see the allegations against Lance finally resolved after eight years of litigation,” Landis said in a statement. “It has been a difficult ordeal and public opinion was not always on my side, but it was the right thing to do, and I am hopeful that some positive changes for cycling and sport in general will be the result. I’m looking forward to spending more time with my family and more energy on my new business ventures.”

This case was not about whether Armstrong cheated in races. Instead, it focused on whether he caused false claims to be submitted to the government for payment and whether the Postal Service was damaged by Armstrong’s doping.

Armstrong’s attorneys argued that the Postal Service should have known about the doping back then but essentially didn’t care. They had assembled evidence to show that the Postal Service received far more in promotional value that what it paid for the sponsorship.

“The Postal Service and Landis had sought $100 million in damages from Lance, but in light of several significant court rulings rejecting and limiting the plaintiffs’ damages theories, the case today settled for $5 million, plus an additional amount to pay attorneys’ fees to Landis’ lawyer,” said Armstrong’s attorney, Elliot Peters of Keker Van Nest & Peters, LLP. “Lance is delighted to put this behind him.”

Jury selection for the trial was to begin May 1, and a pretrial conference for the case was scheduled for Monday.

This case was the biggest legal risk for Armstrong after his confession in 2013. Other civil fraud lawsuits against him were settled or dismissed.

Before this settlement, Armstrong had indicated to USA TODAY Sports that he had paid more than $100 million in unspecified legal costs, including expenses from other lawsuits.

In 2012, Armstrong was banned from sanctioned cycling events for life and stripped of all seven of his titles in the Tour de France from 1999 to 2005.

Like Armstrong, Landis falsely denied doping before admitting it in 2010. Before his confession, Landis even raised money from donors to fund his defense against the doping charge – an effort that led to his own prosecution for fraud by the government in a separate case. Landis then entered a deferred prosecution agreement to pay $478,000 in restitution to the donors.


Company: cnbc, Activity: cnbc, Date: 2018-04-20  Authors: brent schrotenboer, getty images
Keywords: news, cnbc, companies, settlement, service, landis, case, postal, million, agrees, paid, lawsuit, legal, lance, armstrong, doping


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Lance Armstrong settles $100 million lawsuit with US government

Postal Service teammate Floyd Landis filed the original lawsuit in 2010 and is eligible for up to 25 percent of the settlement. In a statement to The Associated Press, Armstrong said he’s happy to have “made peace with the Postal Service.” Armstrong’s team was already under the Postal Service sponsorship when he won his first Tour de France in 1999. Under the lawsuit, the government could have pursued “treble” damages, which could have reached the $100 million range. As the person who filed the


Postal Service teammate Floyd Landis filed the original lawsuit in 2010 and is eligible for up to 25 percent of the settlement. In a statement to The Associated Press, Armstrong said he’s happy to have “made peace with the Postal Service.” Armstrong’s team was already under the Postal Service sponsorship when he won his first Tour de France in 1999. Under the lawsuit, the government could have pursued “treble” damages, which could have reached the $100 million range. As the person who filed the
Lance Armstrong settles $100 million lawsuit with US government Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-19  Authors: getty images
Keywords: news, cnbc, companies, lance, postal, landis, team, tour, france, lawsuit, armstrong, 100, million, service, settles, armstrongs


Lance Armstrong settles $100 million lawsuit with US government

Lance Armstrong has reached a $5 million settlement with the federal government in a whistleblower lawsuit that could have sought $100 million in damages from the cyclist who was stripped of his record seven Tour de France victories after admitting he used performance-enhancing drugs throughout much of his career.

The deal announced Thursday came as the two sides prepared for a trial that was scheduled to start May 7 in Washington. Armstrong’s former U.S. Postal Service teammate Floyd Landis filed the original lawsuit in 2010 and is eligible for up to 25 percent of the settlement.

Seeking millions spent sponsoring Armstrong’s powerhouse teams, the government joined the lawsuit against Armstrong in 2013 after his televised confession to using steroids and other performance-enhancing drugs and methods. Armstrong had already retired, but the confession shattered the legacy of one of the most popular sports figures in the world.

In a statement to The Associated Press, Armstrong said he’s happy to have “made peace with the Postal Service.”

“While I believe that their lawsuit against me was meritless and unfair, and while I am spending a lot of money to resolve it, I have since 2013 tried to take full responsibility for my mistakes and inappropriate conduct, and make amends wherever possible,” he said. “I rode my heart out for the Postal cycling team, and was always especially proud to wear the red, white and blue eagle on my chest when competing in the Tour de France. Those memories are very real and mean a lot to me.”

The settlement clears the 46-year-old Armstrong of the most damaging legal issues still facing the cyclist since his downfall. He had already taken huge hits financially, losing all his major sponsors and being forced to pay more than $20 million in damages and settlements in a series of lawsuits. The government’s lawsuit would have been the biggest by far.

Armstrong is still believed to be worth millions based on a vast investment portfolio and homes in Austin, Texas, and Aspen, Colorado. He also owns a pair of bicycle shops in Austin and WeDu, an endurance events company. He also hosts a regular podcast in which he interviews other sports figures and celebrities and has provided running commentary on the Tour de France.

Armstrong had built a world-wide following during his career winning races and fighting cancer.

His personal story of recovering from testicular cancer that had spread to his brain, while forcefully denying persistent rumors of doping, had built his Lance Armstrong Foundation cancer charity into a $500 million global brand and turned him into a celebrity. The foundation, which removed him from its board and renamed itself Livestrong, has seen donations and revenue plummet since Armstrong’s confession.

Armstrong’s team was already under the Postal Service sponsorship when he won his first Tour de France in 1999. The media frenzy that followed pushed the agency to sign the team for another five years. Armstrong and his teams dominated cycling’s marquee event, winning every year from 1999-2005.

Armstrong’s cheating was finally uncovered in 2012 when the U.S. Anti-Doping Agency, armed with sworn testimony from Landis and other former teammates, moved to strip Armstrong of his titles.

Landis, himself a former doping cheat who was stripped of his 2006 Tour de France title, sued Armstrong under the federal False Claims Act, alleging Armstrong and his team committed fraud against the government when they cheated while riding under the Postal Service banner. According to court records, the contract paid the team, which was operated by Tailwind Sports Corp., about $32 million from 2000 to 2004. Armstrong got nearly $13.5 million.

Under the lawsuit, the government could have pursued “treble” damages, which could have reached the $100 million range. As the person who filed the original lawsuit, Landis is eligible for up to 25 percent of the settlement, which will include an additional $1.65 million paid to Landis’ attorneys.

Armstrong had claimed he didn’t owe the Postal Service anything because the agency made far more off the sponsorship than it paid; Armstrong’s lawyers introduced internal studies for the agency that calculated benefits in media exposure topping $100 million. The government countered that Armstrong had been “unjustly enriched” through the sponsorship and that the negative fallout from the doping scandal tainted the agency’s reputation.

Armstrong had been the target of a federal criminal grand jury, but that case was closed without charges in February 2012. Armstrong had previously tried to settle the Landis whistleblower lawsuit, but those talks broke down before the government announced its intention to join the case.

“I am glad to resolve this case and move forward with my life,” Armstrong said. “I’m looking forward to devoting myself to the many great things in my life — my five kids, my wife, my podcast, several exciting writing and film projects, my work as a cancer survivor, and my passion for sports and competition. There is a lot to look forward to.”


Company: cnbc, Activity: cnbc, Date: 2018-04-19  Authors: getty images
Keywords: news, cnbc, companies, lance, postal, landis, team, tour, france, lawsuit, armstrong, 100, million, service, settles, armstrongs


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ConocoPhillips CEO: Most investors underweight energy stocks, by a lot

ConocoPhillips CEO Ryan Lance says the energy sector wants investors to like it again. “Most investors are underweight energy, not by a little but by a lot,” said Lance when he appeared at the CERAWeek conference in Houston this week. A big focus at the annual energy conference was how to keep costs low, while using technology to maximize efficiencies. The S&P energy sector was down more than 11 percent in the month of February as the stock market sold off, its worst monthly performance since 20


ConocoPhillips CEO Ryan Lance says the energy sector wants investors to like it again. “Most investors are underweight energy, not by a little but by a lot,” said Lance when he appeared at the CERAWeek conference in Houston this week. A big focus at the annual energy conference was how to keep costs low, while using technology to maximize efficiencies. The S&P energy sector was down more than 11 percent in the month of February as the stock market sold off, its worst monthly performance since 20
ConocoPhillips CEO: Most investors underweight energy stocks, by a lot Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-07  Authors: patti domm, karen stern, patrick t fallon, bloomberg, getty images, joshua roberts, sputnik, kremlin, matthew busch, vitanovski
Keywords: news, cnbc, companies, conocophillips, lot, sp, capital, production, underweight, lance, investors, sector, stocks, shareholders, ceo, energy, stock


ConocoPhillips CEO: Most investors underweight energy stocks, by a lot

ConocoPhillips CEO Ryan Lance says the energy sector wants investors to like it again.

“Most investors are underweight energy, not by a little but by a lot,” said Lance when he appeared at the CERAWeek conference in Houston this week.

A big focus at the annual energy conference was how to keep costs low, while using technology to maximize efficiencies. Lance said it’s been difficult over the past year in the stock market. “We’re trying to attract value investors back,” he said.

The Energy Select Sector SPDR ETF (XLE), for instance, is down 6.5 percent over the past year, while the S&P 500 is up more than 14.5 percent. The S&P energy sector was down more than 11 percent in the month of February as the stock market sold off, its worst monthly performance since 2011.

ConocoPhillips shares, trading at just under $54, are midway between a 52-week high and low.

Lance was not alone among the oil CEOs looking to attract investors back to the spurned sector, with Royal Dutch Shell CEO Ben van Beurden saying Shell and the industry are working to achieve better shareholder returns through strong free cash flow and lower debt.

“One of the things you’re seeing is a trend to return cash to shareholders,” said Kevin Brown, research analyst with Tortoise Capital Advisors.

Lance said a key is to give money back to shareholders through buybacks, as well as dividends.

A goal is to keep sustainable capital as low as possible, and that level is now $3.5 billion for ConocoPhillips. That is the amount the company needs to maintain its production, while its cost per barrel is about $40.

“We believe 20 to 30 percent of capital should go to shareholders,” Lance said.

ConocoPhillips’ production is now about a quarter shale and growing.

More from CERAWeek:

Energy investors are acting as if the next bust is already too close

GM CEO ramping Bolt production, says transition to EVs ‘won’t take decades’

BP’s Bob Dudley says oil has settled into ‘fairway’ of $50 to $65


Company: cnbc, Activity: cnbc, Date: 2018-03-07  Authors: patti domm, karen stern, patrick t fallon, bloomberg, getty images, joshua roberts, sputnik, kremlin, matthew busch, vitanovski
Keywords: news, cnbc, companies, conocophillips, lot, sp, capital, production, underweight, lance, investors, sector, stocks, shareholders, ceo, energy, stock


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Tax reform bill picks “winner states over loser states” : NJ Rep. Leonard Lance

New Jersey House Representative Leonard Lance spoke out against Trump’s “Tax Cuts and Jobs Bill,” claiming the removal of state and local tax deductions would create inequities among states. “I think tax reform should benefit all Americans and not pick winner states over loser states,” Lance said on CNBC’s “Fast Money.” The congressman is supportive of tax reform. Abolishing state and local tax deductions would disproportionately harm residents of states like New Jersey. Emphasizing that tax ref


New Jersey House Representative Leonard Lance spoke out against Trump’s “Tax Cuts and Jobs Bill,” claiming the removal of state and local tax deductions would create inequities among states. “I think tax reform should benefit all Americans and not pick winner states over loser states,” Lance said on CNBC’s “Fast Money.” The congressman is supportive of tax reform. Abolishing state and local tax deductions would disproportionately harm residents of states like New Jersey. Emphasizing that tax ref
Tax reform bill picks “winner states over loser states” : NJ Rep. Leonard Lance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-11-08  Authors: chloe aiello, tom williams, cq roll call, getty images, melina mara, the washington post
Keywords: news, games, cnbc, companies, took, loser, jersey, tax, winner, state, residents, rep, reform, leonard, lance, local, nj, picks, trumps, states


Tax reform bill picks

New Jersey House Representative Leonard Lance spoke out against Trump’s “Tax Cuts and Jobs Bill,” claiming the removal of state and local tax deductions would create inequities among states.

“I think tax reform should benefit all Americans and not pick winner states over loser states,” Lance said on CNBC’s “Fast Money.”

The congressman is supportive of tax reform. And after Tuesday’s gubernatorial election, in which Democrats took key states, Lance recognizes the strength of the Republican party may depend on delivering on the promises Trump’s administration made. In the bill’s current state, Lance cannot support it.

“We need to have further discussion and further compromise, and I point out that states, like New Jersey, subsidize the nation in so many ways,” he said.

New Jersey is pays among the highest state and local taxes in the country, due to its large concentration of wealthy residents. Abolishing state and local tax deductions would disproportionately harm residents of states like New Jersey.

“I really don’t favor paying taxes-on-taxes,” Lance said.

Lance also took issue with the $1.7 trillion price tag, and would like more analysis of the policy’s long-term impact. Emphasizing that tax reform overall is positive, Lance seemed optimistic about the Senate’s draft, anticipated for release Thursday.


Company: cnbc, Activity: cnbc, Date: 2017-11-08  Authors: chloe aiello, tom williams, cq roll call, getty images, melina mara, the washington post
Keywords: news, games, cnbc, companies, took, loser, jersey, tax, winner, state, residents, rep, reform, leonard, lance, local, nj, picks, trumps, states


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