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Michael Stanley, Cleveland rock legend and noted local radio and TV personality, dead at 72

CLEVELAND, Ohio — Nearly 50 years ago, on his self-titled first solo album, Michael Stanley offered a plaintive view about mortality:

Here’s a song for a friend soon gone

A friend whose life and mine became entwined

Leaving soon for a lifetime/Leaving part of you behind

Stanley, who passed away Friday at the age of 72 from lung cancer, leaves more than a small part of himself behind in his native Cleveland — and a gaping hole in a city where he was a rock ‘n’ roll king and a much-loved, award-winning radio and television personality.

To say Stanley was part of Cleveland’s fabric is anything but a cliché; It was the home he never left, and a place the man dubbed “the Cuyahoga Messiah” by Last Call Cleveland, carried with him whenever he’d tour the country to play heartland rock hits such as “He Can’t Love You,” “Lover,” “Falling in Love Again and “My Town.”

“I had three pretty good, separate careers with music, the television, the radio,” Stanley told The Plain Dealer in 2019, before receiving the Cleveland Arts Prize Lifetime Achievement Award. “Did we accomplish everything we wanted to? No. But we accomplished things we never thought of. I’ve been making a living doing something I love. This is what I dreamed about as a teenager, and I ended up doing it.”

Stanley’s family issued a statement Saturday via his social media pages. “Michael battled lung cancer for seven months with the same strength and dignity he carried throughout his life. He will always be remembered as a loving father, brother, husband, a loyal friend, and the leader of one of Cleveland’s most successful rock bands.”

Fellow Ohio rocker and longtime friend Joe Walsh, who played on Stanley’s second solo album and covered his song “Rosewood Bitters,” said: “Michael was the king of Cleveland, and of course the Michael Stanley Band became a Midwest powerhouse. Michael has always been a master at the craft of songwriting. His songs have a way of getting in your head and became songs you end up singing to yourself over and over from then on…His music will always be part of me”

Holly Gleason, a noted music critic and author, followed Stanley’s career as a fan and journalist and later became his friend. “If you were a kid coming of age in Cleveland in the 70s or the 80s, he was our hand on the brass ring,” she said. “He was the promise of rock ‘n’ roll delivered. He believed in rock ‘n’ roll. He believed in sports. He believed in Cleveland.

“He was so emblematic of that raging heart that doesn’t care that it’s gonna lose — it’s still gonna leave everything on the field. And when he wrote those songs, those kids in a city where the river caught on fire and the lake died, they felt like their lives mattered.”

Live Nation’s Michael Belkin, whose father managed Stanley for more than 40 years, recalled that affection was part of a unique two-way relationship between the artist and his fans.

“In my entire career, I have never seen another artist as patient and polite as Michael was with fans,” Belkin said. “Backstage, pre- and post-show meet & greets, dinners and benefits, I saw him interact with thousands of supporters over the years, and he was consistently pleasant and gracious. Always. Every time.”

The Michael Stanley Band in a 1976 publicity still. Stanley is seated at center.The Plain Dealer

Born Michael Stanley Gee (his father, Francis Stanley Gee, was a local radio personality), Stanley began playing in bands at Rocky River High School — where he also played baseball and basketball. The Sceptors gave way to the Establishments and the Tree Stumps at Hiram College, which Stanley attended on a baseball scholarship. He earned degree in Sociology and Comparative Religion, but music was where his heart was. Producer-engineer Bill Szymczyk signed the Tree Stumps to ABC Records, albeit suggesting a name change that became Silk for the 1969 release “Smooth As Raw Silk.

“Basically I signed the band because of him,” said Szymczyk, who continued a relationship with Stanley that includes his final album, “Tough Room,” which he brought to Cleveland to play for Stanley at the end of February. “I liked his songs and I liked his vocal quality. To me he’s always been a really, really good writer, and he’s just gotten better over the years.”

After Silk’s demise Szymczyk brought Stanley to the Colorado-based Tumbleweed Records label, producing his self-title solo album and “Friends and Legends,” both in 1973 and the latter featuring Walsh and a corps of “Colorado all-stars” that added polish and bite . A year later, Stanley formed the Michael Stanley Band, a muscular, blue-collar outfit whose dynamic performances were mentioned in the same breath as populist rock peers such as Bruce Springsteen, Bob Seger and John Mellencamp.

“To people in our area, the music meant a lot — that’s part of the Midwest,” said original drummer Tommy Dobeck, who had Stanley as best man at his wedding and made him godfather of his son. “It was always baseball caps and tennis shoes more than glitter. I came from another band (Circus) that was big into satin; I said to Michael, ‘Am I gonna have to wear anything?’ He said, ‘I don’t give a s*** what you wear. Just play!”

David Spero, who was introduced to Stanley via Joe Walsh, managed Stanley throughout the ’70s, including a major label deal with Epic Records. “I think he’s probably one of our country’s most underappreciated writers in that kind of Bob Seger, Bruce Springsteen school of storytelling,” said Spero, who ate lunch with Stanley almost every second Friday.

Stanley, of course, never broke through to the same kind of multi-platinum success as those artists; His top charting album, 1983′s “You Can’t Fight Fashion,” peaked at No. 64 on the Billboard 200 — though there was some national notoriety via TV appearances with Dick Cavett, Merv Griffin and on “Don Kirshner’s Rock Concert.”

“All the way through the entire career, I could never get him a monster hit record — that always pissed me off,” said Szymczyk, noting that other notable producers — including Mutt Lange, Don Gehman and Eddie Kramer — couldn’t get Stanley over the hump, either. “I was like, ‘Damn, Bob (Seger) sure busted out. How come we can’t get Michael, too.’ He was huge in the Midwest — Cleveland, Detroit, Pittsburgh. We just couldn’t bust him out of there.”

The Michael Stanley Band in concert in 1984 in the parking lot outside Cleveland Municipal Stadium.The Plain Dealer

In Cleveland it was a different story, of course. He played multiple-night stands at the Richfield Coliseum and Blossom Music Center. Mellencamp, Billy Joel, Foreigner and others opened for him early in their careers. The band played at the World Series of Rock at Municipal Stadium. “They sold out more Ohio shows than anybody, ever,” Walsh noted.

Stanley and company seldom let anything get in the way of a good show, either. Drummer Dobeck remembered a wrench, inadvertently left by a crew member falling from the lighting truss during a Richfield Coliseum show and hitting Stanley in the head. “Michael thought someone threw something at him and was like, ‘Who the hell did that?!’ — which was so unlike Michael. But that only lasted for about 10 seconds and we went back into the song.”

When a stage light above exploded outside of Detroit and shards cut Stanley’s face, meanwhile, Dobeck remembers “he just kept playing, blood running down his cheek. I was just like, ‘Wow, what a showman.’”

The Michael Stanley Band ended in 1986, but Stanley continued to record and play live with his bands the Resonators and the Midlife Chrysler. His musical reach broadened, and his lyrics became richer, more seasoned and even more cinematic, infusing his songs with experience and the perspective of his years. And he never shied away from an intelligent phrase or upperclassman word; Szymczyk laughed as he recalled that Stanley’s songs had him pulling out the dictionary on more than one occasion.

“If you look back at any writer’s body of work, you usually find a common theme or two that they’ve been trying to hone,” Stanley — who suffered a heart attack in 1991 and also battled subsequent prostate cancer and a quadruple bypass — told The Plain Dealer in 2012.

“I realized that mine is: You just never know. This whole idea of never knowing what tomorrow is going to bring and being open to it. I’d almost always thought of it in a very positive way: ‘Hey! Tomorrow! Tomorrow’s the day something good happens!”

Stanley, as it turned out, embarked on a bonus career few might have expected — despite his father’s legacy. He won 11 local Emmy Awards as co-host of WJW Channel 8′s “PM Magazine” from 1987 to 1990, and then spent another year on the station’s “Cleveland Tonight.” He played himself on an episode of “The Drew Carey Show.”

On the radio, Stanley spent more than 30 years on WNCX, weekday afternoons and Saturday mornings, ending just last month. He once quipped that “I have told each story 107 times already,” but being part of the city’s daily life only knitted him more tightly into that fabric.

“There’s no one that will take his place,” said WNCX’s Bill Louis, who worked with Stanley since 1995. “Hundreds of thousands of Clevelanders loved him on concert stages, then on PM Magazine and for the last 30 years they drove home with him in their cars every weekday on WNCX. That body of work will prove to be without equal.

“Michael was a very bright light locally that we could call ours.”

Former manager Spero added that, “(Stanley) was so accessible. He was involved with all the (sports) teams at one point or another. He was the one guy, who, if there was ever a fundraiser, I knew I could always call him and say, ‘Could you just come by’ and he would never say no.’ When you sell out Blossom (four) nights in a row, you don’t have to be that accessible, but he was.

Plain Dealer rock critic Jane Scott interviews Michael Stanley backstage at Blossom Music Center in 1981. (Photo: Janet Macoska)

“So, it’s a huge loss. I really have not come to terms with a life without Michael.”

There will be reminders, of course — the section of Huron Avenue renamed Michael Stanley Way in 2019, for one. And there’s the forthcoming “Tough Room,” which Szymczyk said is decidedly uptempo despite Stanley’s failing health. “It’s pretty rocked out. He always has…rousers and weepies. I was always drawn to the rousers…and this one has more rousers than weepies.”

The Rock and Roll Hall of Fame issued a statement Saturday, remembering Stanley as “our city’s most beloved musician, songwriter and rocker.

“His heartland music resonated with legions of listeners, and his concerts set attendance records and took on mythic proportions. Even more importantly, Michael’s songs spoke to our hearts. As fans we adored and revered him, and in return he loved us right back. The energy of his music and its ability to bring people together helped to make Cleveland the Rock and Roll Capital of the World, and it galvanized the community to rally together and make our city the home of the Rock & Roll Hall of Fame. We will miss Michael dearly.”

Stanley is survived by his daughters Anna Sary (Christian) and Sarah Sharp (Aaron); his sister, Nancy Oosterhoudt and niece Claire Kloss; his wife, Ilsa Glanzberg and stepson Cole Sweeney; and his five grandchildren — Mallory Sidoti (Mike), Aidan Kraus, Brody Kraus, Wren Sary and Phoebe Sary. He is predeceased by his mother, Martha Fitzpatrick; his father, Stanley Gee; and his late wife, Denise Skinner.

Stanley will be buried in a private ceremony at Lake View Cemetery. The family requests contributions in his memory to the Cleveland Food Bank (www.greaterclevelandfoodbank.org) and/or the Cleveland Animal Protective League (www.clevelandapl.org).

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Tesla Is Bleeding Battery EV Market Share To Ford’s Mustang Mach-E: Morgan Stanley

TipRanks

2 “Strong Buy” Stocks That Could Benefit From Inflation

Inflation worries are picking up, and the stock market is down in consequence. Inflation-sensitive stocks, especially the tech giants, have slipped in recent trading sessions, as government bond yields ticked higher. Unsurprisingly, the factors behind the inflation worries are directly related to the pandemic situation. There’s the massive fiscal stimulus of the legislative COVID relief packages, that are helping to fuel that inflationary pressure, but there is also the ongoing vaccination program that continues to reach more than 1 million people per day, and holds out the promise of a return to more normal conditions. So the question now is, what should investors do? For the near-term, at least, the chance of inflation outweighs the positive news about the receding COVID epidemic. With that in mind, Wall Street pros advise looking at ‘inflation-resilient’ sectors. Using the TipRanks database, we identified two stocks that, according to top-rated analysts, could potentially gain should inflation take hold. In fact, both have received overwhelmingly bullish praise from the Street, enough to earn a “Strong Buy” analyst consensus. Applied Materials (AMAT) We’ll start with a producer of technological goods, Applied Materials. Like any manufacturer, Applied Materials can survive in an inflationary environment; as the cost of raw materials rises, the company will pass those on to its own customers through higher prices on finished products. No one likes that, but the company’s products are essential in the tech industry. Applied Materials makes integrated circuit chips for electronic devices; flat panel displays used in TVs, computer monitors, smartphones, and tablets; and coatings for flexible electronics. AMAT brings in over $17 billion in annual revenue, has over 14,000 patents, and puts more than $2.2 billion annually into R&D work. In its recent quarterly report, for fiscal 1Q21, Applied Materials reported a top line of $5.1 billion, up 24% from the prior year, and earnings of $1.22 per share. EPS was flat sequentially, but up 27% year-over-year. These results came in as the company’s stock has registered strong gains. AMAT shares are up 101% in the past 12 months, far outpacing the broader markets. The gains reflect increased demand for the company’s products due to the increase in telecommuting, virtual offices, and remote schooling. In his note on Applied Materials, B. Riley’s 5-star analyst Craig Ellis takes an upbeat stance. “We believe takeaways affirm a bullish thesis and suspect Street FY21&22 EPS will move materially higher despite retaining sizeable IT/LT upside… Semi’s sales led 1Q’s upside though all segments exceeded our forecast, and we believe robust strength will persist deep into CY21… AMAT’s $70B+ CY21 industry view surprise higher, surpassing close peers… directionally pointing to our +$72-$74B view,” Ellis noted. To this end, Ellis rates the stock a Buy, and his $150 price target implies a 30% upside potential for the coming year. (To watch Ellis’ track record, click here) Overall, there are 22 recent reviews on Applied Materials, and no fewer than 19 are to Buy. The remainder are Holds; the analyst consensus view on the shares is a Strong Buy. AMAT is priced at $115.44 and the $133.95 average price target suggests 16% upside from that level. (See AMAT stock analysis on TipRanks) Citigroup (C) Next up, Citigroup, is of the US’ Big Four banking institutions. For banks like Citi, which are net lenders, inflation’s tendency to push up interest rates is a boon. Long term, higher rates will increase loan profitability faster than inflation will eat away at repayments. In that environment, the banking sector could outperform the S&P 500 over the long term, should inflationary tendencies drive up key interest rates. In the meantime, a look at Citi’s current situation shows that revenues and earnings are still down year-over-year, although EPS has shown strong sequential gains. In 4Q20, the bank reported a top line of $16.5 billion, down 10% yoy, and EPS of $2.08. The earnings were down 3% yoy, but up 48% from Q3. 5-star analyst Chris Kotowski, of Oppenheimer, advises investors to keep an even strain despite the year-over-year losses. “Our advice to investors is to take a deep breath, look at the numbers and see they were all basically in line and that the outlook is really not much changed from where it was previously… we are staying with the expectations for a significant wave of loan losses in 2H21E outlined in our preview [but] we think the strong likelihood is that this will prove way too conservative, and returns will normalize in 2022E,” Kotowski opined. In line with his optimistic approach, Kotowski rates C shares an Outperform (i.e. Buy) along with a $114 price target. Investors stand to pocket a 62% gain should the analyst’s thesis play out. (To watch Kotowski’s track record, click here) Overall, their is broad agreement on Wall Street about the fundamental quality of the stock. Citigroup’s Strong Buy consensus rating is based on 12 Buy and 3 Hold. C is selling for $70.38 and the $79.80 average price target suggests an upside of ~13% on the one-year time horizon. (See Citi’s stock analysis at TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Virginia officer fatally shot during traffic stop in Stanley

A police officer in a Virginia town was shot and killed by a driver during a traffic stop before he could get out of his patrol vehicle, authorities said.

Officer Dominic “Nick” J. Winum, 48, was fatally shot in the town Friday afternoon, Stanley Police Chief Ryan Dean said in a statement.

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News outlets reported Winum was shot by Dakota G. Richards, 29, before he could get out of his patrol vehicle. He was later pronounced dead at the scene.

Virginia State Police told news outlets Richards ran away but was later found hiding in a barn.

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The suspect reportedly made a “threatening movement” and was shot and killed by officers.

It was unclear what led up to the traffic stop.

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Winum had been with Stanley police since 2016, Dean stated. Before that, Virginia State Police said he had been a state trooper.

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JPMorgan and Morgan Stanley are eyeing bitcoin. Here are the big Wall Street names warming to cryptocurrencies | Currency News | Financial and Business News

A JPMorgan co-president said he thought interest in bitcoin would build

A $150 billion investment arm of Morgan Stanley is weighing up getting involved in bitcoin, according to a report, as the soaring price of the biggest cryptocurrency garners attention on Wall Street.

In another example of the rising interest, JPMorgan co-president Daniel Pinto said on Friday he’s “sure” demand for bitcoin will pick up to the extent that the Wall Street giant will “have to be involved.”

The bitcoin price touched an all-time high of almost $50,000 on Sunday, a remarkable rise from a low of $4,000 in March 2020. It was down around 1.4% to $45,157 as of 11am ET on Monday.

Tesla’s announcement that it had purchased $1.5 billion of bitcoin in January drove a push to record highs last week. Mastercard and BNY Mellon also added impetus by moving to open up access to bitcoin.

Read more: A Ruffer portfolio manager invested a portion of his $4.8 billion fund in Bitcoin. Here’s what swayed him to bet on crypto – and the 2 other ways he’s hedging against worrying speculative bubbles

Counterpoint Global, a unit of Morgan Stanley, is now exploring whether to invest in cryptocurrencies, according to Bloomberg. Morgan Stanley declined to comment.

JPMorgan’s Pinto told CNBC on Friday: “If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved.”

“The demand isn’t there yet, but I’m sure it will be at some point.”

As Wall Street interest in bitcoin builds, here are some other institutions moving towards cryptocurrencies.

Read More: The CIO of a $700 million crypto asset manager breaks down why Elon Musk’s gradual acceptance of bitcoin means the digital currency has room to run – and shares why it’s launching an over-the-counter fund

Bank of New York Mellon set to jump into bitcoin world

Bank of New York Mellon plans to issue, hold, and transfer clients’ bitcoin, The Wall Street Journal reported on February 11, marking a key development in bringing cryptocurrencies into the mainstream.

America’s oldest bank will soon allow digital currencies to be treated the same as more orthodox investments in its asset-management system.

Mastercard to support ‘select cryptocurrencies’

Mastercard will begin allowing customers to use some cryptocurrencies on its network later this year, although it did not specify which.

“We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network,” Raj Dhamodharan, executive vice president of digital asset products said in a blog last Wednesday.

BlackRock gives funds the green light on bitcoin

BlackRock boss Larry Fink

BlackRock has authorized two of its funds to invest in bitcoin futures, according to January filings with the Securities and Exchange Commission.

The $8.7 trillion asset manager said it could use bitcoin derivatives, among other assets, under the BlackRock Strategic Income Opportunities and the BlackRock Global Allocation Fund.

Tesla bets big on bitcoin with $1.5 billion investment

Elon Musk’s Tesla powered the latest jump in the bitcoin price by announcing it had invested $1.5 billion in bitcoin in January. It also said it plans to accept bitcoin as payment.

Although not a Wall Street firm, the electric-car company’s $780 billion market capitalization means people take notice of where it puts its money. Listed companies such as MicroStrategy and Galaxy Digital also have significant bitcoin holdings.

Grayscale inflows and ‘whale wallets’ point to heightened interest

Big inflows into the Grayscale Bitcoin Trust are a sign that institutional investors are increasingly interested in cryptocurrency, analysts say, as many firms’ rules prevent them from buying up the tokens directly.

Crypto investment firm Grayscale saw assets under management surge tenfold in 2020 as wider adoption of bitcoin drove billions into its trusts. Institutional funds made up 93% of all fourth-quarter inflows, according to its quarterly report published in January.

A rise in the number of “whale wallets” holding at least 1,000 bitcoin could also be a sign that institutional investors are buying up the cryptocurrency, according to Chainanalysis research cited by Coindesk.

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Morgan Stanley May Bet on Bitcoin in $150 Billion Investment Arm

A $150 billion Morgan Stanley investing arm known for its prowess in picking growth stocks is considering adding Bitcoin to its list of possible bets.

Counterpoint Global, a unit of Morgan Stanley Investment Management that’s racked up wins in mutual-fund rankings, is exploring whether the cryptocurrency would be a suitable option for its investors, according to people with knowledge of the matter. Moving ahead with investments would require approval by the firm and regulators.

Morgan Stanley’s affirmation would put the heft of an almost-century-old marquee Wall Street name behind a volatile asset class that’s still struggling to win acceptance in much of the traditional financial industry. But a four-fold jump in four months has stoked customers’ interest, making the digital asset even harder to ignore.

After catching the attention of hedge fund moguls including Alan Howard and Paul Tudor Jones, cryptocurrencies have recently made headway with more mainstay firms such as Mastercard Inc. and Bank of New York Mellon Corp. Just this week, Tesla Inc, the leading maker of electric cars, also got behind Bitcoin with a $1.5 billion investment and plans to start accepting the cryptocurrency as payment.

A spokeswoman for Morgan Stanley declined to comment. The review could ultimately result in Morgan Stanley opting to stay away from Bitcoin. Previous rallies in the cryptocurrency have also attracted flurries of Wall Street interest only to fizzle.

Read more: Mastercard to allow some crypto in digital asset boom

Much of the industry’s skepticism centers on Bitcoin’s unpredictable price swings and the lack of things it can buy more than a decade since its creation. But faithful followers have felt vindicated this year. Billions of dollars have been pouring into the cryptocurrency through vehicles including the Grayscale Bitcoin Trust.

Even institutional investors, barred by the rules of their funds from holding Bitcoin directly, have turned to such trusts. For Wall Street firms, an inability to offer Bitcoin to those clients raises the risk of losing them to other managers. That may spark fresh discussions in the industry about opening up to the asset.

Counterpoint Global, led by Dennis Lynch, has expanded with a simple-sounding mantra of betting on unique companies whose market value can increase significantly. Enthusiasts would argue that approach fits well with Bitcoin.

The group oversees about 19 funds, of which five delivered gains in excess of 100% in 2020. Its mutual funds have consistently made the top tier of rankings in recent years. Last year’s unusually high returns were aided by bets on companies benefiting from the pandemic, such as e-commerce and streaming entertainment. Prominent investments included Amazon.com Inc., Shopify Inc., Slack Technologies Inc., Zoom Video Communications Inc. and Moderna Inc.

Despite its size, the group relies on concentrated investments and has stakes in just about 200 companies.

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‘Supernova’ review: Colin Firth and Stanley Tucci light up the end-of-life drama

Firth’s Sam and Tucci’s Tusker have been together for decades, and they’re introduced on a cross-country trek in a beat-up old camper. It’s what amounts to a last hurrah, with Tusker having pushed his partner to perform a piano recital, stopping to see family along the way.

Both are keenly aware that the hourglass is running out on the life they’ve known. Tusker’s condition is gradually worsening, with occasional moments where he wanders off or struggles to articulate thoughts. He’s mostly fine now, but his inevitable deterioration — and the unwelcome prospect of “becoming a passenger” in his own body, as he says — looms like a shadow over them.

As for Sam, the trip is dogged by the fact that he’ll soon be a full-time caretaker, a role to which he has committed himself that nevertheless scares him. “You’re not supposed to mourn someone while they’re still here,” Tusker observes, summing up Sam’s uncomfortable plight.

“Supernova” isn’t a great title for a movie like this — it’s a crafty play off the pair’s interest in stargazing — although it’s oddly appropriate, since the two stars keep things watchable even when there’s nothing much happening, which is most of the time. In that regard, the film joins a long roster of end-of-life romances, in this case unfolding in what feels like slow motion.

Marking the second writing-directing effort from actor Harry Macqueen, this British production doesn’t bother with flashbacks or much reminiscing about the couple’s relationship. All that history comes in the form of casual exchanges and small gestures that reflect a lifetime together, as touchingly conveyed by Firth and Tucci, whose real-life friendship surely contributes to that shorthand. (The latter will be featured in a CNN food and travel show premiering in February.)

As understated as the movie is, the emotion of the situation comes through loud and clear. While the pacing might have benefited from a few more detours or details, the audience has a pretty good understanding of where this road began and where it leads.

“Supernova” is by any measure a modest production, but it accomplishes what it sets out to do: Creating a touching, low-key showcase for its stars, one that allows them to cast a bright light.

“Supernova” premieres January 29 in select theaters and February 16 on demand. It’s rated R.

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