Uber investors sell at big discount but still make billions
DETROIT – Investors in the Uber ride-hailing service didn’t get all they wanted in selling at least part of their holdings to a group led by Japanese technology conglomerate SoftBank.But don’t show them too much sympathy.Even though they sold at roughly a 30 per cent discount from what the shares were worth in 2016, those who invested early made nearly 100 times their initial stake, going from around 35 cents per share to just under $33, according to one investor who requested anonymity because the sales are private.Uber was valued around $68.5 billion during a 2016 capital investment, but it dropped to somewhere above $48 billion in the SoftBank deal announced last week. The reasons for the discount are many, among them the seemingly endless string of scandals, lawsuits and fights that plagued Uber through almost all of 2017. Also, competition has gotten tougher from Lyft and Grab in the U.S. as well as Ola in India and several emerging services elsewhere.During the past year, Uber has been rocked by revelations of rampant sexual harassment in the company, technological trickery designed to hinder regulators, and a yearlong coverup of a hacking attack that stole personal information of 57 million passengers and 600,000 drivers.Rohit Kulkarni, managing director of SharesPost, a company that analyzes private company investments, says three big events that happened around the time that SoftBank began courting investors combined to discount the shares. Just before SoftBank’s intent to shop for shares was announced, regulators in London refused to renew the cab-hailing app’s license to operate. Then the data hack and coverup were revealed, and the company told investors its third-quarter net loss had widened to $1.46 billion on huge legal costs.The events helped SoftBank’s group get a better deal, Kulkarni says.Many big Uber investors include venture capital firms that got in early. They hedged their bets, selling part of their stake to bring big profits to their shareholders while holding the rest for big gains if the company gets past the scandals, the investor said.“This is still a good deal,” said Gartner analyst Michael Ramsey. “The earlier the investment, the bigger the payout.”All-in, the SoftBank group will pump about $9 billion into Uber, including $1.25 billion in new shares that were purchased at the 2016 valuation. SoftBank acquired about 15 per cent of Uber, while other investors in its group got around 3 per cent.The deal, due to close this month, also brings management stability to Uber, reducing the influence of ousted CEO Travis Kalanick. SoftBank, which has global investments in other ride-hailing companies, gets two seats on the board and will help Uber navigate the tough global competition, says Kulkarni.Uber’s new CEO Dara Khosrowshahi and COO Barney Harford are experienced executives who successfully increased share value at travel booking companies, says Kulkarni, who expects Uber to be worth a total of $100 billion by the time it offers shares to the public sometime in 2019.To get there, though, they must get a handle on regulatory disputes with governments like the one in London, and they have to show at least a trend line toward making money, he said.“A pathway to profitability is a must,” Kulkarni said.____This story has been corrected to fix spelling errors in the final two references to SharesPost Managing Director Rohit Kulkarni.
Barbados: Former West Indies batsman Ramnaresh Sarwan has accepted the invitation of the country’s cricket board to work as a mentor and provide batting tips to the Caribbean side’s batsmen in the run-up to the tri-nation series in Ireland and the World Cup. The 38-year-old, who played 87 Tests, 181 ODIs and 18 T20Is between 2000 and 2013 for the West Indies, will spend the remainder of the week working with the players, especially the batsmen, helping them to fortify their game. However, it is not certain whether he will travel with the West Indies side for the World Cup slated to be held in England and Wales from May 30. “I have come here to act as kind of a mentor to the players and try my best to assist them in any technical ways and with any shortcomings where I think they can improve, and to offer as much help to the head coach, Floyd Reifer, and his coaching staff,” said Sarwan. He admitted that the Indies batsmen have struggled to rotate the strike in the past and thus he would be helping the players to improve their running between the wickets and in finishing games. “I know our batsmen have struggled in the past with rotating the strike, so I am trying to see how best we can get them to improve in this area,” he said. “It’s not an overnight fix, but it’s important to share ideas with them, so that they have something to build on,” he said. Reifer, who took over as coach last week, is expecting Sarwan to have a “wealth of knowledge” to share. “We are hoping he can help the batsmen get a better understanding of how to finish games, the mindset, how to approach batting first, how to approach batting last, so we thought that kind of knowledge was very important to share. He fitted in very well. He did a lot of talking and a lot of work with the batsmen,” he said. a
Theresa May and Barack Obama promised to maintain strong political and economic ties between Britain and the US despite the Brexit vote.Speaking at a joint press conference with the US President at the G20 summit in China, both leaders sought to provide reassurance that the close relationship between the UK and the US would not be weakened by Britain’s decision to leave the EU.“We have a very strong trading relationship with the United States, we will be looking to see if we can maintain this relationship in the future,” Mrs May said.Mr Obama promised that the relationship would strengthen.“Even as the UK pursues an orderly exit from the EU, together we reaffirm the very special relationship between the United States and the United Kingdom,” the US president said.”It will not simply endure, but it will continue to grow stronger with time. The vibrant economic partnership between our countries will continue, as the UK gains further clarity on its new relationship with the EU.” In April, during a visit to London, Mr Obama had warned that Britain would go to the “back of the queue” in trade talks with the US if it left the EU. Even if he did not expressed his views as forcefully this time, the US president signalled that a trade deal with Britain was a lower priority than securing an agreement with the EU.His intervention ahead of the Brexit vote annoyed “leave” campaigners who resented what they believed was an unjustified intervention in a domestic political matter.Mr Obama made no apology for his remarks in April when he spoke to journalists early on Sunday in Hangzhou.“It is absolutely true that I believed pre the Brexit vote and continue to believe post Brexit that the world would benefit from the UK’s participation in the EU,” he said. Mr Obama added that the US was involved in detailed negotiations with the EU.“It would make no sense these aside particularly at a time when my working assumption is that if the UK decided to leave the EU, its first priority would be to negotiate trade with the single unit to which they sell half of their goods.” Close economic links with Britain would remain however, Mr Obama added.“There is a lot of investment of British companies in the United States and American companies in the UK and that is going to continue.” he said. He added: “The bottom line is we don’t have a stronger partner anywhere in the world than the United Kingdom, and despite the turbulence of political events over the last several months we have every intention to making sure that that continues.’’Mrs May, who reiterated that there would not be a second referendum on Brexit, described the US as Britain’s “special partner” and a a “long-standing ally and close friend”. 
Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings. U.S. President Barack Obama and Britain’s Prime Minister Theresa May arrive to speak to reportersCredit:Jonathan Ernst/Reuters
At MINExpo at the end of September, in Las Vegas, Metso was presented with an award by Freeport-McMoRan Inc for the long-term partnership between both companies. “Your long-time support of Freeport-McMoRan has been a cornerstone of our success. Most recently, your highly motivated team has partnered with us as we weather the difficult cycle that brought copper prices to near six-year lows. Thanks to this team effort, both our companies have worked to reduce costs, gain efficiencies and remain competitive. I am confident in the long-term future of commodities and our industry. We look forward to further strengthening our partnership and moving ahead together,” read a message from Freeport-McMoRan President and CEO, Richard C. Adkerson.“Freeport identified a select number of key partners who have been working hand in hand with us over the last several years on productivity, costs and efficiency initiatives. Metso has been a valued partner of ours, and we are very pleased to present this award recognizing their ongoing contribution to Freeport’s success story in these areas, and in the area of innovation,” says Rick Coleman, President, Freeport-McMoRan Mining Co. “Both companies can be proud of the accomplishments achieved together.”The award design, a copper scroll, depicts Freeport’s Morenci mine – the largest copper operation in North America where Metso and Freeport closely collaborated to provide Metso’s HRC(TM) 3000, the largest fully operating high-pressure grinding roll in the world.“Freeport and Metso have a long, storied history of capturing opportunities of mutual benefit to our organizations,” says Terry J. Wilkins, Senior Vice President, Market Areas USA & Canada, Metso. “Metso HRC 3000 high-pressure grinding roll is one good example of our joint achievements. The innovative concept was developed together to reduce energy consumption and generate savings.“We are proud of the partnership we have built over the years, honoured to receive this award, and look forward to what the future holds.”The picture shows Rick Coleman (Freeport-McMoRan), João Ney Colagrossi (Metso), and Terry J. Wilkins (Metso) accept copper scroll in recognition of long-term strategic partnership at MINExpo International® 2016
Biocarburants : 78% des Français sont pourSelon un sondage Ipsos, les Français se disent en grande majorité prêts à utiliser des carburants bio.Les Français seraient 78% à se dire prêts à “lutter contre le réchauffement climatique” en utilisant des carburants verts. Le sondage Ipsos, qui arrive à cette conclusion, montre également que les utilisateurs sont, pour 56% d’entre eux, “plutôt” ou “tout-à-fait” prêts à étudier “l’option d’un véhicule flex-fuel fonctionnant au super éthanol et à l’essence lors de l’achat de leur prochain véhicule”.Le sondage a été réalisé auprès d’un échantillon de 955 personnes pour les industriels sucriers, la confédération des planteurs de betterave et les céréaliers, à l’occasion des “premières rencontres du bioéthanol” qui se tenaient hier à Paris.Le 10 novembre 2010 à 16:44 • Emmanuel Perrin
La tempête Irina tue 65 personnes à MadagascarLa tempête tropicale Irina a fait au moins 65 morts à Madagascar, ont annoncé lundi soir les autorités du bureau national des catastrophes naturelles (BNGRC).Selon le BNGRC, la tempête tropicale Irina, qualifiée de modérée par les autorités malgaches, a provoqué la mort de 65 personnes et fait un blessé dans l’île. Trois disparus sont également signalés chez les 73.490 sinistrés. Au Mozambique, Irina a tué au moins une personne, un arbre s’étant abattu sur une maison où résidait un vieillard.À lire aussiMaladie de Charcot : symptômes, causes, traitement, où en est on ?La tempête a poursuivi sa course le long des côtes africaines et à Durban (Afrique du Sud) les plages ont été interdites et les bateaux ont reçu ordre de rester au port, a précisé un responsable municipal, Thabo Mofokeng. Sur place, les vagues ont atteint trois mètres de haut, tandis que des vents violents et des pluies torrentielles ont balayé tout le territoire. Irina est la deuxième tempête meurtrière de la saison, Giovanna ayant fait 35 morts, 284 blessés et près de 250.000 sinistrés à Madagascar. La saison cyclonique devrait maintenant prendre fin puisqu’elle dure habituellement de novembre à février. Mais chaque année, des victimes sont à déplorer.Le 6 mars 2012 à 11:04 • Maxime Lambert
A quick response from a nearby fire station helped firefighters limit damage to a home at 2215 N.W. 10th Way in Battle Ground to only about $10,000 Wednesday night.Firefighters were called about 9:30 p.m. Wednesday and rushed from their station only about a mile away, said Battalion Chief Tim Dawdy with Clark County Fire & Rescue.The fire had started on an exterior wall by the garage, spread up the wall and burned into the attic of the garage. It was so hot it melted the vinyl siding on another house about 10 feet away, and melted the vinyl fence between them, Dawdy said.“The guys got on it right away. They stopped it quick,” he added.Dawdy said he went to the home later and was amazed to find that the living area was undamaged, and the occupants weren’t displaced.No one was reported injured and the cause remained under investigation Thursday.
Smoke billows in Raqa on September 4, 2017, as Syrian Democratic Forces (SDF), a US backed Kurdish-Arab alliance, battle to retake the northern Syrian city from the Islamic State (IS) group. Photo: AFPSyria’s army battled the Islamic State group on the edges of Deir Ezzor Monday, seeking to break the siege of a government enclave and oust the jihadists from a key stronghold.The jihadist group has already lost more than half of its nearby bastion of Raqa to attacking US-backed forces, and the loss of Deir Ezzor city and the surrounding oil-rich province would leave it with only a handful of isolated outposts.Deir Ezzor province borders Iraq, where IS has also been expelled from former strongholds Mosul and Tal Afar.The jihadists hold large parts of Deir Ezzor province, and more than half the provincial capital Deir Ezzor city, the remainder of which is controlled by the government and under IS siege.Syrian troops have been advancing towards Deir Ezzor city on several fronts, backed by ally Russia, which Monday said two of its soldiers had been killed in the province.By Monday afternoon, Syrian soldiers were three kilometres (nearly two miles) from the city, the Syrian state television said in a breaking news alert.“The Syrian army has advanced towards Deir Ezzor to break the siege on it and is now just three kilometres from the city,” it said.The Britain-based Syrian Observatory for Human Rights monitoring group said the troops and allied fighters had arrived at the Brigade 137 base on the western outskirts of the city, and were battling to reach troops besieged by IS inside.A military source told AFP: “There have been multiple collapses of the Daesh (IS) line in the west of Deir Ezzor province, allowing the army to move quickly.”“The siege on the government troops will be broken within hours.”‘Best day of my life’A 31-year-old teacher inside the regime enclave was ecstatic.“It’s the best day of my life to see the siege coming to an end. It was the heaviest burden on civilians,” Uday al-Ali told AFP by phone.“It’s a real day of celebration for the city.”Syrian troops were also some 12 kilometres from Deir Ezzor’s besieged military airport, the Observatory said.Provincial governor Mohamed Ibrahim Samra, quoted by state news agency SANA, spoke of a festive mood in the city.“Yesterday Deir Ezzor city saw celebrations and rejoicing among all segments of society ahead of the expected victory with the advance of the Syrian Arab Army to the outskirts of the besieged city,” he said.The Russian defence ministry also reported that Syrian forces were advancing on the city, backed by Russian air strikes.“The fall of IS in Deir Ezzor will be a strategic defeat for the international terrorist group in Syria,” it said in a statement.It later reported two Russian soldiers had been killed by IS artillery fire as their convoy entered Deir Ezzor province, without specifying when the incident took place.IS seized large parts of the province, including its many oilfields, in mid-2014 as it rampaged across Syria and Iraq.By early 2015, it had also seized parts of Deir Ezzor city and laid siege to remaining areas under government control.The siege tightened further earlier this year, when IS advanced and cut the government-held parts of the city in two, with a southern section by the key military airport now divided from a northern sector.Humanitarian crisisAn estimated 100,000 people remain in government-held parts of the city, which had a pre-war population of some 300,000.The Observatory estimates more than 10,000 people may live in the parts of the city held by IS, although precise information is hard to come by.The siege has created a humanitarian crisis in the city, with food and medical shortages and soaring prices.The government has brought supplies in by helicopter, and the United Nations has periodically airdropped humanitarian aid, but the situation remains difficult for those under siege.Conditions are also reportedly dire for civilians trapped in IS-held parts of the city, with activists reporting food and medical shortages as well as water and electricity cuts.Syria’s army has been advancing towards Deir Ezzor on several fronts in recent weeks, including from the west through neighbouring Raqa province, and from the south via central Homs.Capturing Deir Ezzor would be a key gain for Syria’s government, which has scored a series of military victories in recent months with Russian support.Government forces have moved quickly towards the city, seeking to head off potential rival advances including by a US-backed Kurdish-Arab alliance that is conducting a separate battle to oust IS from the city of Raqa.More than 330,00 people have been killed in Syria since the conflict began with anti-government protests in March 2011.
Stay on target Best Board GamesThe Best Gifts for Settlers of Catan Lovers Forget Hungry Hungry Hippos and Trouble, for lots of people Settlers of Catan is their gateway drug to more “serious” board games. Since 1995, this Euro-style board game from Klaus Teuber has grown in popularity all over the world. I still remember spending countless college nights strategically bargaining wheat for sheep and deploying hidden knight cards to expand my empire across the map… and then getting screwed by thieves for having too many cards. However, Catan has evolved beyond the original game thanks to various expansions and spin-offs. If you want to play Catan in all of its forms, you clicked on the right article.View as: One Page Slides1. Catan 5-6 Player ExpansionThe only thing better than regular Catan is expanded Catan that supports up to six players.Currently $39.97 on Amazon. Purchase Here.2. Catan 5th EditionThe current version of classic Catan.Currently $30.95 on Amazon. Purchase Here.3. Catan Cities and KnightsKnights already play a big role in normal Catan, but this expansion goes full medieval.Currently $49.99 on Amazon. Purchase Here.4. Catan Histories: Settlers of America Trails to RailsThere are a variety of historical Catan spin-offs under the Catan Histories umbrella, but we selfishly feel that America is a good place to start.Currently $55.00 on Amazon. Purchase Here.5. Catan JuniorCatan is great, but it is also pretty complicated. Ease your kids into cutthroat sheep-hoarding with Catan Junior.Currently $22.81 on Amazon. Purchase Here.6. Catan Explorers and PiratesThe oceanic map of Catan Explorers and Pirates is a big change of pace from the landlocked normal Catan.Currently $59.51 on Amazon. Purchase Here.7. Catan SeafarersIf you want to play Catan at sea, but don’t want to worry about nasty pirates, Catan Seafarers is for you.Currently $37.99 on Amazon. Purchase Here.8. Catan Traders and BarbariansFriendly trade is a backbone of Catan play. Ruthless barbarians have something to say about that.Currently $48.75 on Amazon. Purchase Here.9. Portable CatanWith this convenient box and handle, bringing Catan to party full of friends is as easy as building the longest road.Currently $49.48 on Amazon. Purchase Here.10. Rivals for CatanRivals of Catan takes familiar Catan concepts and lore and remixes them into a two-player card game.Currently $50.00 on Amazon. Purchase Here.11. Star Trek CatanForget the old-fashioned wheat fields, sheep farms, and ore mines of regular Catan and take your settlement building strategies to the stars where they can do some real good. Every true geek needs Star Trek Catan.Currently $54.99 on Amazon. Purchase Here.
ASP.NET Core 3.0 will come with some changes in the way projects work with frameworks. The .NET Core integration will be tighter and will bring third-party open source integration. Changes to shared frameworks in ASP.NET Core 3.0 In ASP.NET Core 1.0, packages were referenced as just packages. From ASP.NET Core 2.1 this was available as a .NET Core shared framework. ASP.NET Core 3.0 aims to reduce issues working with a shared framework. This change removes some of the Json.NET (Newtonsoft.Json) and Entity Framework Core (Microsoft.EntityFrameworkCore.*) components from the shared framework ASP.NET Core 3.0. For areas in ASP.NET Core dependent on Json.NET, there will be packages that support the integration. The default areas will be updated to use in-box JSON APIs. Also, Entity Framework Core will be shipped as “pure” NuGet packages. Shift to .NET Core from .NET Framework The .NET Framework will get fewer new features that come to .NET Core in further releases. This change is made so that existing applications in .NET Core don’t break due to some changes. To leverage the features from .NET Core, ASP.NET Core will now only run on .NET Core starting from version 3.0. Developers currently using ASP.NET Core on .NET Framework can continue to do so till the LTS support period of August 21, 2021. Third party components will be filtered Third party components will be removed. But Microsoft will support the open source community with integration APIs, contributions to existing libraries by Microsoft engineers, and project templates to ensure smooth integration of these components. Work is also being done on streamlining the experience for building HTTP APIs, and a new API client generation system. For more details, visit the Microsoft website. Read next .NET Core 3.0 and .NET Framework 4.8 more details announced .NET Core 2.0 reaches end of life, no longer supported by Microsoft Microsoft’s .NET Core 2.1 now powers Bing.com
Agents & Brokers Attorneys & Title Companies Home Sales Lenders & Servicers Mortgage Applications Mortgage Disclosures Mortgage Fraud Processing Refinance Service Providers 2011-09-23 Ryan Schuette in Government, Origination, Secondary Market, Servicing Ex-Cops, Criminal Enterprises Nabbed for Mortgage Fraud Share
_MReport_ captured a look at crooked cops, money-launderers, and criminal enterprises for the mortgage fraud blotter Friday. This week state and federal officials nabbed three people for their purported roles in a $12-million scheme, 32 in a $5.1-million plot, and a state trooper over a matter of $100,000 allegedly reaped from falsified information.[IMAGE]In coming up with the blotter, _MReport_ pulled from a number of city and regional newspapers, Web sites, and government sources that included the “”_Associated Press_””:http://www.chron.com/news/article/32-indicted-in-alleged-Ohio-mortgage-fraud-scheme-2185220.php, “”Federal Bureau of Investigation””:http://www.fbi.gov/ (FBI), and “”TampaBayOnline.com””:http://www2.tbo.com/business/business/2011/sep/22/menewso6-former-state-trooper-pleads-not-guilty-to-ar-259611/.First up, the FBI announced that a federal grand jury delivered a string of indictments against three defendants, which their peers accused of raking in no less than $12 million from fraudulently obtained proceeds. The accused trio: Waunita Weingart, of Denver, along with John Phillip Gallegos, of Seattle and Alois Craig Weingart, also of Denver.According to the FBI, the three duped lenders by pledging several properties as collateral on successive occasions. Gallegos and the Weingarts allegedly misrepresented their income on loan applications, submitted several under refinance applications, and hid the funds under the names of several companies belonging to the defendants.””Honest and law abiding citizens are fed up with the likes of those who use deceit and fraud to line their pockets with other people’s money,”” “”said””:http://www.fbi.gov/denver/press-releases/2011/trio-indicted-in-12-million-mortgage-fraud-scheme Sean Sowards, a special agent with the Internal Revenue Service, which cooperated with the FBI in pursuing the defendants. “”These individuals who engage in this type of financial fraud should know they will not go undetected and will be held accountable.””Convictions could send all three to the federal slammer for some 20 years and charge each with up to $250,000 ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô for each count of wire fraud, the FBI said. [COLUMN_BREAK]Any conviction over alleged money-laundering activities could net each defendant with a 10-year prison sentence and not more than $250,000.Meanwhile, in Cleveland, more people apparently walked away with less, with the _Associated Press_ reporting Friday that authorities had taken in 32 people, who prosecutors allege orchestrated a $5.1-million plot involving 44 properties in Ohio’s Cuyahoga County.The news service said that the purported gang went about the scheme by buying properties in foreclosure or others from sheriff’s sales. The defendants then marked up values on loan applications to scoop up mortgages for each of the properties.Authorities made public that nine defendants got slapped with felony charges related to theft and engagement in a criminal enterprise, according to the _AP_. The other 23 found themselves saddled with charges also related to theft.Last but far from least, TampaBayOnline.com offered up the story of an accused former Florida highway patrolman who found himself on the other side pleading not guilty to mortgage-fraud charges.According to the Web site, Shaun Leo Reid, then an officer, purportedly skimmed on his income for federal loan documents, which he used to pick up a Tampa investment home priced at $500,000. He allegedly walked away from the purchase with $100,000.After obtaining the mortgage, Reid received over $100,000 from the seller of the property, according to TampaBayOnline.com. He then allegedly used the sum for a down payment, avoiding any expenses that would otherwise accrue to his $41,000 annual salary.The Florida Highway Patrol dismissed Reid in early September over the investigation, which led to charges for the officer that include grand theft, mortgage fraud, and conspiracy to commit fraud, according to the Web site.TampaBayOnline.com quoted Reid’s attorney as contending, “”It’s pretty conceivable how this could happen if you’re not the one sending the info to the bank.””Whither the loan officer responsible for signing off on the application? TampaBayOnline.com said it could not reach one Brandon Anderson, formerly the director of Griffin Anderson Enterprises, a business no longer in operation, for comment.Authorities have not pressed for any indictments against Anderson, according to the Web site. September 23, 2011 495 Views 
Arizona Cardinals guard Mike Iupati (76) during an NFL football game against the St. Louis Rams, Sunday, Oct. 4, 2015, in Glendale, Ariz. (AP Photo/Rick Scuteri) Derrick Hall satisfied with D-backs’ buying and selling Iupati had not played the last two weeks, but he was limited in practice both Wednesday and Thursday, signaling a possible return Sunday against San Francisco.With Iupati sidelined and Alex Boone out with a chest injury, the Cardinals will likely plug-in John Wetzel at left guard. Wetzel has started at left tackle each of the past two weeks, but he may be moved inside should D.J. Humphries be available.“We’ll see,” Arians said, when asked if Humphries would start at left tackle.Humphries hurt his right knee in the season opener and has not played since. He was limited in practice all week and is officially listed as questionable.The Cardinals other guard and tackle options are rookie Will Holden and second-year player Daniel Munyer.“I’ll play wherever they need me to,” said Holden, who’s seen snaps at tight end this season. “You study the game plans, you kind of know what’s going on and if you’re confident in what you do, you’ll be alright.” Regardless of what the Cardinals decide to do, it will be their third different offensive line combination in four weeks.“It can be difficult, but at the same time, we just got to work with what we have,” Wetzel said. “We just got to, in general, just get better as a whole whoever is in there.”Continuity along the offensive line was an issue last season as well when eight different five-man units were used, including five in the last seven weeks.Arians, however, doesn’t want to hear any excuses.“They just got to step up and play,” Arians said. “We always believe in the next man, that’s no bull, that’s the real thing. Your job is now is you’re a starter. Play like one.” TEMPE, Ariz. – Though he had expressed confidence in playing this week, Arizona Cardinals left guard Mike Iupati will not. And won’t for awhile.The Cardinals announced Saturday they have placed Iupati on injured reserve and promoted offensive lineman Vinston Painter from their practice squad.Painter has played in eight career games since being drafted in 2013 by the Denver Broncos. He’s bounced around the league, spending time with the Broncos, Cleveland Browns, New York Giants, Miami Dolphins and, most recently, the Washington Redskins. He was signed to the Cardinals practice squad on Sept. 14 after the Redskins released him on Sept. 2. The news comes after head coach Bruce Arians announced Friday that Iupati needed surgery on his right elbow.“He had a bone spur that broke off that’s cutting his tendon and he was trying to play with it. He needs to get it done before it cuts it in half,” Arians said, adding “at the best” Iupati will miss at least eight weeks. Top Stories Comments Share Former Cardinals kicker Phil Dawson retires The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Grace expects Greinke trade to have emotional impact