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Ex-OpenAI board member reveals what led to Sam Altman's brief ousting 2024-05-28 21:29:23+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Former OpenAI board member Helen Toner revealed explosive new details about what led to CEO Sam Altman's brief ousting in November. In an interview with Bilawal Sidhu on "The Ted AI Show," which aired Tuesday, Toner said Altman had lied to the board multiple times. As one example, Toner said OpenAI's board learned about the release of ChatGPT on Twitter. She said that Altman was "withholding information" and "misrepresenting things that were happening in the company" for years. Toner — one of the board members who voted to kick Altman out — alleged Altman also lied to the board by keeping them in the dark about the company's ownership structure. "Sam didn't inform the board that he owned the OpenAI startup fund, even though he constantly was claiming to be an independent board member with no financial interest in the company," she said. Related stories Altman keeping that from the board "really damaged our ability to trust him" and that the board was "already talking pretty seriously about whether we needed to fire him" in October, she said. Advertisement OpenAI didn't immediately respond to a request for comment from Business Insider. Toner — currently a director of strategy at the Centre for Security and Emerging Technology at Georgetown — alleges the OpenAI chief also gave board members "inaccurate information about the small number of formal safety processes" OpenAI had in place. She said that made it "basically impossible" for the board to understand if the safety measures were sufficient or if any changes were needed. She said there were other individual examples, but ultimately, the board concluded that "we just couldn't believe things that Sam was telling us, and that's a completely unworkable place to be in as a board." Toner added that it was "totally impossible" for the board to trust Altman's word. The board, she said, had a role to have independent oversight of OpenAI and "not just helping the CEO to raise more money." But then, last October, the board had a number of conversations where two executives detailed their own experiences with Altman in which they used the phrase "psychological abuse," according to Toner. She said the executives told the board they "didn't think he was the right person to lead the company to AGI, telling us they had no belief that he could or would change, no point in giving him feedback, no point in trying to work through these issues." By the time the board realized Altman needed replacing, Toner says it was clear that Altman would "pull out all the stops" to block the board from going against him if he found out. She claims he "started lying to other board members in order to try and push me off the board." She said, "We were very careful, very deliberate about who we told, which was essentially almost no one in advance, other than obviously our legal team and so that's kind of what took us to to November 17." Advertisement But Altman's ouster didn't last long. As staff threatened to quit and speculation swirled that Microsoft may poach Altman's team from OpenAI and hire him directly, the company's board brought back Altman as CEO less than a week later. Toner resigned from her role as an OpenAI board member less than two weeks after Altman returned as CEO. Do you work for OpenAI? Do you have insights to share? Contact the reporter at jmann@businessinsider.com or reach out via Signal at jyotimann.11
Wu-Tang Clan’s unreleased ‘Once Upon a Time in Shaolin’ is headed to an Australia museum 2024-05-28 21:25:26+00:00 - NEW YORK (AP) — The sole physical copy of Wu-Tang Clan’s unreleased “Once Upon a Time in Shaolin” is headed to Australia’s Museum of Old and New Art. Only a handful of ears have listened to Wu-Tang Clan’s seventh studio album to date. But next month, lucky MONA visitors may be able to hear part of it, too. In addition to putting the famed piece of music history on display, MONA said it would host private listening sessions featuring select tracks from the album between June 15 and June 24. Tickets, set to be released Thursday, are free — but there’s only a small number available. “Run don’t walk, bring da ruckus, etc.” MONA wrote on Instagram Tuesday. The album will be a part of the Tasmania museum’s larger “Namedropping” exhibition that opens next month. “Once Upon a Time in Shaolin” has been called the world’s rarest album. After spending six years creating the 31-track double album, the multiplatinum hip-hop group put the single copy up for auction in 2015, on the condition that it not be put to commercial use. At the time, Wu-Tang Clan member RZA said he wanted the album — packaged in a hand-crafted silver and nickel case that includes a 174-page book wrapped in leather — to be viewed as a piece of contemporary art. Entrepreneur Martin Shkreli bought the album at the auction for $2 million — but was later convicted of lying to investors and cheating them out of millions of dollars in two failed hedge funds he operated. “Once Upon a Time is Shaolin” was sold to satisfy some of Shkreli’s court debts in 2021. Authorities did not immediately release information about the buyer or the price, but The New York Times reported that cryptocurrency collective PleasrDAO paid an intermediary $4 million for the album. Shkreli, who is also known for jacking up the price of a life-saving drug and his “Pharma Bro” persona, was released from prison in 2022 after serving much of a seven-year sentence.
Chevron’s $53 Billion Oil Deal Is Backed by Hess Shareholders 2024-05-28 21:10:24+00:00 - A large oil industry deal advanced on Tuesday after shareholders of Hess approved a proposed sale of the company to Chevron for $53 billion. Control over one of the most prized oil assets, off the shores of Guyana, is at stake in the deal, which still faces significant hurdles. Hess is a junior partner in a lucrative Exxon Mobil-led drilling project in the South American country. Exxon is contesting Chevron’s acquisition of Hess by arguing that Hess can’t sell itself without allowing Exxon to buy its stake in the Guyana project. Chevron and Hess have said Exxon’s interpretation of the terms of Exxon and Hess’s partnership is incorrect. Exxon has asked an arbitration organization to resolve the dispute. Some of Hess’s largest investors, hoping to pressure Chevron into sweetening its offer, had withheld their support for the deal, which was announced in October. But Hess prevailed at its shareholders’ meeting on Tuesday in convincing a majority that the deal was in their best interest. The company said it would release a tally of the vote later.
Take profits or let it ride — undecided Nvidia investors should ask themselves 3 questions 2024-05-28 20:44:00+00:00 - Discipline trumps conviction. Those are perhaps the three most important words for Nvidia shareholders who are sitting on a grand slam. After more than tripling last year and more than doubling again so far in 2024, to say Nvidia and CEO Jensen Huang have been on a roll would be the understatement of the century. Riding the artificial intelligence wave sweeping Wall Street, the chip giant on Tuesday was knocking on the door of a $3 trillion market cap. Since its close on May 22, Nvidia's three-session post-earnings winning streak added more than $500 billion in stock market value. That number is mindboggling when considering that it's nearly $100 billion bigger than the entire combined market cap of rivals Advanced Micro Devices and Intel . Not only was the latest quarter amazing but so were the guidance and commentary Jensen shared on last week's earnings conference call — sending clear signals that the demand for Nvidia chips and software solutions shows no sign of slowing. With the next-generation Blackwell chip platform on the near-term horizon — and as Jim Cramer said Tuesday many more iterations down the road — it's easy to get caught up in the price action, and let your conviction drive your decision-making progress. NVDA 5Y mountain Nvidia 5 years That, however, is not our discipline. While acknowledging that conviction may reward you now and then with outsized gains, we firmly believe that it's discipline that keeps you in the game. It's staying in the game that allows you to ultimately realize the power of compound interest over the years. Last week, we explored the question: Can investors with little to no shares still buy Nvidia after these record runs? This week, we're looking at the flipside. We aren't saying run out and sell shares right now if you are sitting on huge paper profits. We can't answer that question for you. However, here are three things to consider and questions to ask as you look at a monster gain in Nvidia and try to assess the appropriate course of action. 1. Have you booked a gain recently? With shares up nearly 130% year-to-date in 2024, on the back of a 239% gain in 2023, it can seem like gains will continue forever. However, we all know that isn't the case. Through the years, Nvidia shares have hit pockets of turbulence. Knowing that, on the first trading day of 2024, the Club sold some shares of Nvidia — and seven other outsized winners from the prior year. I n our Jan. 2 trade alert to members , we wrote: "To be clear, we don't envision exiting these names completely, which is why we are only making small sales across the board. The group above represents some of the greatest companies in the world. But discipline matters too because bulls make money, bears make money, and hogs get slaughtered. We've been feeling greedy during this historic stretch and refuse to be hogs after the great year these stocks have had." Can we regret our move? Sure, looking back we should have bet the farm on Nvidia. But hindsight is 20/20, and it would be dishonest to pretend that the last five months of gains were so obvious back then. We had no idea that Nvidia would start 2024 with a continued rally; or foresee a 19% plunge from its March 25 intraday high to its most recent low on April 22; or the resumption of its run to current historic levels. Should we beat ourselves up for selling shares on Jan. 2, when the next top came in March? No. Because again, hindsight is 20/20. We can't time the market consistently, so we don't pretend like we can. Instead, we simply look to apply disciplined decision-making throughout the investing process. 2. Diversification matters. When a stock does what Nvidia has done, it can impact your exposure. After the small Jan 2. trim — which was more about the magnitude of the run than the position getting too big — Nvidia had a weighting of just over 2%. Adding another roughly 134% since then — which includes the aforementioned 19% swoon — we're conscious that Nvidia now accounts for a little over 4.5% of the portfolio. It's No. 2 — just behind our other "own it, don't trade it" stock Apple at a 5% weighting. Since we don't like any one position to be much bigger than 5%, we may need to do some selling if the Nvidia rally continues. If that were to happen, it would not be because anything has changed in our outlook — but rather, it would be smart portfolio management. As you think about your diversification profile, be sure to also keep in mind the correlation between positions. This Nvidia run is being driven by investments into AI infrastructure. That appears to be sustainable for now. But that theme is driving many stocks, including fellow Club name Broadcom , which is at a nearly 3.3% weighting. That means nearly 8% of the portfolio could be at risk to the downside if AI spending were to pause — and that's before considering the less direct exposure we have through names like Eaton . Again, we don't think that will happen anytime soon. But worrying about all eventualities is prudent. 3. Ask yourself: If I didn't own any shares now, would I buy? This doesn't address the issue of greed or diversification, however, by answering this question as objectively as possible, we can seek to be more honest with ourselves in terms of the current risk/reward being offered by the stock. Investing is all about making estimations of risk and reward and managing the risks while letting the winners take care of themselves. As you look at Nvidia, try to put the gains you see on paper aside and think about the stock from the perspective of new money. After all, it is new money coming in that will drive shares higher or the lack of new buyers that will result in a pullback. Shares are currently reading as overbought according to the relative strength indicator (RSI), a momentum-oriented technical analysis tool , which stands at 78. The threshold for overbought is 70. That doesn't mean shares are going to pull back imminently. Overbought conditions can last a while. In fact, the last time we broke above 70, Nvidia shares were trading around $540 each and went on a $200 run to around $740, before pulling back sharply to around $663. However, it does mean shares have made a very strong move to the upside in a very short amount of time and the risk/reward isn't quite what it was when shares were at $950 prior to this move and a bit more caution may be warranted when it comes to managing the position. Overbought conditions are generally worked off in one of two ways, either they pull back or they trade sideways and consolidate. When that happens is hard to say but the odds of it happening are higher when we've entered overbought territory. Bottom line As you look at your Nvidia position and think about what to do given the incredible run we've seen, keep these three considerations in mind. (1) Are you being greedy? (2) Has diversification suffered as a result of the run? (3) What does the risk/reward look like now, versus when you initially took your position? The answers should help you determine what move to make next, so long as you abide by the mantra that discipline trumps conviction. (Jim Cramer's Charitable Trust is long NVDA, AAPL, AVGO, ETN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Jensen Huang, co-founder and chief executive officer of Nvidia Corp., during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Tuesday, March 19, 2024. David Paul Morris | Bloomberg | Getty Images
Target has around 75 Pride items in its collection right now. That's over 2,000 fewer than last year. 2024-05-28 20:40:08+00:00 - Target has slashed its annual Pride collection after the retailer faced protests last summer. Now, rather than thousands of LGBTQ+ themed products, the assortment has around 75 items. Target said it's made changes "based on guest insights and sales trends." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Target's annual Pride collection is a shadow of its former self after the retailer faced protests from conservative groups last summer. After a decade of offering a special collection of products sourced from the LGBTQ+ community to celebrate Pride month in June, the retailer said last year it was "rethinking" its cultural merchandising strategy. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in . Pride this year at Target is shaping up to be a lot smaller, shorter, and quieter than it once was — and there's a good chance you might not see it at all. Target's online Pride collection on May 28. Target Whereas last May, Target's Pride collection featured more than 2,000 items online, this year's assortment consists of several dozen items — fewer than 75 in the regions Business Insider examined, including California, New York, and Wisconsin — as of May 28th. Advertisement Now instead of bold statements and functional garments, the selection has more toned-down rainbow-themed apparel and accessories, a few alcoholic drinks, pet gear, and a cutting board emblazoned with "It's Giving Charcuterie." A seasonal display at Target in Madison, Wisconsin. Dominick Reuter/Business Insider The company said earlier this month only select stores would carry Pride products, rather than all of its nearly 2,000 US locations. Business Insider visited a store on Tuesday in Madison, Wisconsin, and found that Target had yet to set out any Pride merchandise, although the company's website and app said items could be purchased from that location. A guest services employee at the store confirmed to BI that online orders could be fulfilled from the store, and said the store display should be available starting June 1. For now, what previously had been the location of a front-of-store Pride display was instead occupied by a summer "Swim and Sand Shop." Days earlier the spot had been set up for a pickleball promotion. Advertisement A Pride month display at a Target in Wisconsin last year. Dominick Reuter/Insider In an interview last year as the conservative firestorm was gaining momentum, CEO Brian Cornell argued against the idea that Target was too "woke." "When we think about purpose at Target, it's really about helping all the families, and that 'all' word is really important," he said "We want to do the right thing to support families across the country." "I think those are just good business decisions, and it's the right thing for society, and it's the great thing for our brand," he added. A year after the remarks, we're getting a better sense of what exactly is changing as the company switches up its strategy, which Target has said was the result of sales trends and guest insights. Advertisement "Please know our intention is to bring our culture of care to life for our LGBTQIA+ team members — not just during June, but year-round," Target's VP of Brand Marketing Carlos Saavedra said in an email to the company's Pride+ Business Council earlier this month. "We remain committed to this wonderful community, and we are so excited to celebrate Pride with you all."
Russia’s wealthy elite could face higher income tax as authorities propose a new, progressive system 2024-05-28 20:36:40+00:00 - MOSCOW (AP) — Russia’s wealthy elite could face higher income taxes, according to a proposal the country’s finance ministry floated on Tuesday. The proposal, which would likely have to go through parliament for approval and subsequently a signoff by President Vladimir Putin, comes as Russia continues to spend vast amounts of money on the military campaign in Ukraine. The proposal involves a progressive tax on personal incomes and represents a change of course from the current flat-rate tax that was credited with bringing order and improving tax collections after it was introduced in 2001. It envisages imposing a 13% tax for incomes of up to 2.4 million rubles ($27,000) a year. For incomes over that amount, a steadily higher tax rates would apply. The maximum tax would be 22% for annual incomes exceeding 50 million rubles ($555,000). The increased taxes would affect only 3.2% of Russia’s working population, Finance Minister Anton Siluanov said on the ministry’s website. The 2.4-million-ruble level is about three times higher than the country’s average salary, he said in a commentary. “The proposed progressive scale should not concern the overwhelming majority of the population,” he said. The 13% flat tax was put into effect in an attempt to discourage tax evaders and boost the state’s revenue. In 2021, Russia modified the system so that people earning more than 5 million rubles a year would pay 15% on the amount above the threshold. That new tax brought in an extra 8.3 billion rubles the first year it was imposed, the Russian business news site RBC reported.
HubSpot shares jump on talks of potential Google deal 2024-05-28 20:32:00+00:00 - HubSpot shares rallied 8% on Tuesday after CNBC's David Faber reported that Alphabet is looking at an all-stock offer for the software company. Reports of a potential deal first surfaced in early April, when Reuters published a story saying Alphabet was talking to advisors about making an offer for HubSpot. Bloomberg followed with a story earlier this month, indicating that talks were progressing. "There have been many reports about HubSpot being in conversations with Google," Faber said Tuesday. "My understanding is absolutely true, all-stock deal for Alphabet to acquire HubSpot." With a market cap of about $33 billion, after Tuesday's jump, HubSpot would be by far Alphabet's largest deal ever. Google's biggest acquisition to date was the $12.5 billion purchase of Motorola Mobility in 2011. HubSpot is primarily used for marketing by small- and medium-size businesses. Its products would presumably fill a gap in helping Google provide marketing technology and customer relationship management tools to its customers, potentially bolstering cloud revenue. HubSpot shares were up slightly for the year prior to Tuesday's gains, closing the day at $638.39. The stock doubled in value in 2023. Alphabet did not immediately respond to CNBC's request for comment. HubSpot declined to comment. — CNBC's Jordan Novet contributed to this report.
EV range is making huge strides, but there still aren't enough places to charge. 2024-05-28 20:29:33+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Electric vehicles have come a long way — literally. In the earliest days of the EV transition, a fully battery-powered car (like the first-generation Nissan Leaf that went on sale in 2010) could only drive for about 100 miles on a full charge in the best weather conditions. That's fine for an enthusiastic early adopter or someone looking to replace just one of their multiple gas cars, but it didn't satisfy the average car shopper. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Today, a mass-market EV can deliver about 300 miles on a single charge. That's a huge improvement in just 14 years, but the great American road trip is still far from achievable in an EV, thanks to one persistent issue: range anxiety. Advertisement Car companies and battery suppliers have spent years working to quell this anxiety. But despite the vast improvements in battery technology, EV charging still can't hold a candle to the 5-minute stop to fill a gas tank. Even as charging times come down (GM boasts its Ultium batteries can gain about 100 miles of range in 10 minutes on a DC fast charger), there simply aren't enough public chargers in the right spots. Related stories Car companies hoped the public charging infrastructure would improve along with them as they built more range into their vehicles. This hasn't really happened, though, and a slew of EVs are hitting the market with nowhere to charge up on a road trip, exacerbating one of the biggest barriers to adoption. Charging is a hot potato issue One thing essentially everyone can agree on in the EV transition is that vast and reliable fast-charging infrastructure is essential. Studies have shown that areas with more access to public charging infrastructure have higher rates of EV adoption, even though a majority of charging happens at home. Advertisement What no one can seem to agree on is who is responsible for building out public charging infrastructure. And a closer look reveals that perhaps pinning the problem on one entity, public or private, will only slow efforts to grow. Car companies have made some efforts to build out charging infrastructure, partnering with charging companies and other stakeholders to install public chargers and help new EV buyers install home charging systems. Tesla, which has always led the way with its Supercharger network, is also opening its stations to other car manufacturers, aiding in patching the holes in the public charging network. All these industry efforts have helped to feed an EV charging infrastructure boom in recent years. At the start of 2024, there were some 61,000 public charging stations in the US, more than doubling the amount of stations there were in 2020, according to Pew Research and the Department of Energy. Advertisement Still, that's way less than the roughly 120,000 gas stations nationwide, and public efforts to grow charging infrastructure appear to be slow-going so far. The Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030. Since Congress approved this funding two years ago, only a handful of stations have gone live, according to reports. Building out charging infrastructure is just one piece of the puzzle We're still far from the level of infrastructure required for mass adoption, even as the rate of EV sales hits a slowdown. One slowdown appears to feed the other: a new crop of EV shoppers isn't interested in buying a car that might die on a road trip, and charging companies aren't willing to grow for customers that don't exist yet. Advertisement On top of the issue of infrastructure coverage, there is the question of where we will get the power to run all of these new charging stations. A recent study from the University of Michigan Transportation Research Institute found that utilities are not fully equipped to handle the large swings in usage that can be caused by increased amounts of EV charging. All this means that cross-industry efforts — between car companies, their suppliers, charging startups, and public utilities — will be crucial as we continue to grow the share of electric cars on the road.
Amtrak changes schedule in the Northeast Corridor due to heat 2024-05-28 20:16:00+00:00 - Severe weather rocks NYC area with thunderstorms and hail Severe weather rocks NYC area with thunderstorms and hail 08:01 Amtrak passengers traveling in the Northeast Corridor — the busy rail line linking Boston, New York and other cities in the region with Washington, D.C., — could face delays because of high heat this summer. Departure times of trains in the corridor have been adjusted to compensate for anticipated heat order delays, Amtrak Northeast said Tuesday in a post on X. The notice from the passenger rail service comes as climate change contributes to the severity of storms around the world. In the U.S., at least 23 people have died in holiday weekend storms in five states. Passengers traveling in the Northeast Corridor should expect delays from 5 to 20 minutes when track owner and maintainer CSX issues a heat order reducing the maximum speed of trains. The orders frequently occur between May and August, Amtrak said. More than 70% of the miles traveled on Amtrak trains are on tracks owned by other railroads, including CSX. The company's network includes about 20,000 miles of track in 26 states, the District of Colombia and two Canadian provinces. More scheduling information can be found at Amtrak.com, on its mobile app or by calling or texting: 1-800-872-7245. Extreme heat poses safety risk Extreme heat can hinder operations and pose safety hazards by causing rail, bridges and overhead power wires to expand, prompting restrictions on train speeds during warmer months, according to Amtrak. Amtrak requires locomotive engineers not to exceed 100 miles per hour when the rail temperature reach 131 degrees, and to slow to 80 miles per hour when the tracks is at 140 degrees. Nearly half of its trains operate at top speeds of 100 miles per hour or greater, and its high-speed intercity passenger rail trains operate at speeds up to 150 miles per hour, Amtrak said. Nearly 29 million people rode Amtrak in fiscal 2023, a roughly 25% jump from the prior year, fueled in part by significant growth in the Northeast Corridor, where ridership consistently exceeded pre-pandemic levels from early summer, Amtrak noted. A federally chartered corporation, Amtrak operates as a for-profit company rather than a public agency.
US files a labor complaint over claims that a Volkswagen plant in Mexico fired union activists 2024-05-28 20:15:51+00:00 - MEXICO CITY (AP) — U.S. trade authorities said Tuesday they have filed a labor complaint with Mexico over allegations that a Volkswagen auto plant in central Mexico unfairly fired union activists. The U.S. Trade Representative’s office said Tuesday the complaint includes the temporary suspension of tariff benefits for vehicles and parts produced at the VW plant in Puebla, just east of Mexico City. The complaint was the 23rd filed for alleged labor abuses in Mexico under the U.S.-Mexico-Canada Agreement, known as the USMCA. Mexico must investigate the claims and either get the company to correct them, or explain why it won’t take action. For decades, wages in Mexico have been held very low because unions were not allowed to organize freely. The complaint asked Mexico to investigate whether management at Volkswagen de México, S.A. de C.V. fired or took reprisals against workers “based on their service as union representatives, affiliation with prior union administrations, candidacy in union elections, or engagement in other union activities.”
Ex-Georgia Senate candidate Herschel Walker still has $4 million left in the bank from his unsuccessful 2022 run. Republicans aren't happy about it. 2024-05-28 20:14:33+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Two years ago, the University of Georgia football icon and then-Senate candidate Herschel Walker was seen by many Republicans as a future star in the party. Walker, running against Democratic Sen. Raphael Warnock in the Georgia Senate race, won over many establishment politicians. GOP voters overwhelmingly coalesced around his campaign. And many observers predicted that a "red wave" would sweep him into office. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. But Walker — weighed down by numerous controversies and his inability to appeal to moderates in the competitive race — eventually lost to Warnock in a December 2022 runoff election. Walker is not running for another elected position in 2024. However, he still has $4.3 million left in the bank from his Senate run, much to the frustration of Republicans in Georgia and Washington — who say that the money could go a long way in aiding their party this year — according to Politico. Advertisement "Those resources were solicited and given to support his candidacy as a Georgia Republican, and unless he intends to use them again for his own candidacy, I sure hope the favor would be returned," ex-Georgia Republican Party chairman John Watson told the outlet. Walker previously contributed $100,000 to the National Republican Senate Committee for a recount fund, and he also gave roughly $400,000 to charities, according to Politico. Related stories But Walker so far has not given any indication that he will be a major player in Georgia politics this year. After his Senate loss, he returned to the University of Georgia to complete his undergraduate degree. Advertisement When contacted by Politico about the unspent funds, Walker said that there "wasn't money left in my account." He soon ended the call, telling the outlet that he needed to complete a paper. Over the past year, the Georgia GOP has been strained financially as it has paid the legal fees of the alternate fake electors who have faced charges over their efforts to overturn Biden's 2020 win in the state. Two-term Gov. Brian Kemp — a conservative who clashed with Trump-aligned figures over the 2020 election — has largely bypassed the state party by utilizing his own political committee to fundraise. And Trump is playing catch-up financially as he continues to trail the Biden campaign in the money race. Advertisement With Georgia once again in focus as a key swing state in November, both Democrats and Republicans are gearing up for a widespread campaign to turn out their respective bases. The stakes couldn't be higher: Trump won Georgia in 2016 but lost the state to Biden in 2020, largely because the president ran up the score in metropolitan Atlanta and among Black voters in rural Georgia. The former president very much wants to win the state again. But Biden is eager to hold Georgia, as his 2020 win in the state was one of the biggest electoral triumphs for Democrats that year.
‘It’s already highway robbery.’ Why people don’t wait to claim Social Security and what experts say 2024-05-28 20:12:00+00:00 - When it comes to claiming Social Security retirement benefits, experts agree it's generally best to delay. Yet many people still claim early — either at the earliest possible age of 62 or before their full retirement age. Those early claims result in reduced Social Security benefits for life. To get 100% of the benefits you've earned, you need to wait until full retirement age — between age 66 and 67, depending on your date of birth. To get the highest benefit, retirees need to wait to claim until age 70. More from Personal Finance: As Social Security's funds face insolvency, here's what to watch Why most of Warren Buffett's wealth came after age 65 Advice about 401(k) rollovers is poised for a big change. Here's why Understandably, some people cannot delay — either due to poor health or financial circumstances. Yet research also shows many people claim early because they are worried about the program's future, or they want to get the most of their benefits. In response to a recent CNBC article on why even waiting a few months to claim benefits can help, some readers had a strong reaction. "It's already highway robbery," one reader wrote. "You just don't want them [the government] getting their money back, do you?" Nevertheless, experts maintain waiting to claim is generally a beneficial strategy. "In the grand scheme of things, delaying claiming Social Security is one of the safest things that you could probably do to protect yourself over time," said David Blanchett, head of retirement research at PGIM DC Solutions, the global investment management business of Prudential Financial. Here's what experts say to the most common arguments for claiming Social Security benefits as soon as possible.
Why "stress bragging" can annoy your co-workers and hurt your career 2024-05-28 20:09:00+00:00 - Constantly announcing to co-workers how swamped you are at the office isn't likely to impress your colleagues — in fact, it may have the opposite effect, new research shows. "Stress bragging" or "busy bragging" about your overflowing plate often leads to resentment from peers, a study from the University of Georgia (UGA) shows. It also tends to make boasters appear less competent at their job, the researchers found. "This is a behavior we've all seen, and we all might be guilty of at some point," Jessica Rodell, a professor of management at UGA's Terry College of Business and the study's lead author, told UGA Today, an online newspaper geared to the university. "When I was wondering about why people do this, I thought maybe we are talking about our stress because we want to prove we're good enough. We found out that often backfires." Despite the adage, "If you want something done, ask a busy person" (variously attributed to Benjamin Franklin or writer Elbert Hubbard), the findings suggest that harping on about your busy schedule is unlikely to engender much in the way of good will at work. To assess such attitudes, the UGA researchers asked hundreds of subjects to rate a fictitious co-worker who made statements about an imaginary conference, including that it was "just one more thing on my full plate. And I was already stressed to the max…you have no idea the stress that I am under." Study respondents said they found that type of individual to be less likable and less competent than a colleague who simply said work had been stressful or, alternatively, who had positive things to say about the conference. Participants also said they wouldn't be inclined to lend a complaining coworker a helping hand. Researchers also studied real-life workplace braggarts and found their colleagues often perceived them negatively. "People are harming themselves by doing this thing they think is going to make them look better to their colleagues," Rodell said. No badge of honor Meanwhile, "stress bragging" perpetuates an unhealthy notion, according to the study's authors — that work should be stressful, and by extension anyone who isn't sweating their job isn't cutting the mustard. "When somebody is constantly talking about and bragging about their stress, it makes it seem like it is a good thing to be stressed," Rodell told UGA Today. "It just spills over onto the co-worker next to them. They wind up feeling more stressed, which leads to higher burnout or withdrawal from their work. Think of it as this spiraling contagious effect from one person to the next." Of course, all workers may experience stress of one kind or another, and the study doesn't suggest that people should mask their emotions. And co-workers who were perceived as being genuinely busy didn't invite ill will, the research found. "If you genuinely feel stressed, it's OK to find the right confidant to share with and talk about it," she said. "But be mindful that it is not a badge of honor to be bragged about — that will backfire," Rodell said.
U.S. announces changes to give private sector, small businesses in Cuba more financial support 2024-05-28 19:59:00+00:00 - WASHINGTON/HAVANA — The U.S. Treasury Department on Tuesday announced regulatory changes to allow more American financial support for Cuba’s nascent private sector and bolster access to U.S. internet-based services, limited but timely measures that officials said would help give the island’s budding small businesses a leg up. The United States said it would permit small entrepreneurs on the Communist-run island to open and access U.S. bank accounts from Cuba for the first time in decades, following prohibitions put in place shortly after Fidel Castro’s 1959 revolution. The measures would also allow Cuban entrepreneurs to use U.S.-based social media platforms, online payment sites, video conferencing and authentication services, previously unavailable to the sector and a major hurdle currently facing small businesses on the island. The moves aim to fulfill the Biden administration’s long-delayed pledge to help Cuba’s budding entrepreneurs, giving its small but fast-growing private sector deference despite the Cold War-era U.S. embargo that has for decades complicated financial transactions by the Cuban government. “Today we’re taking an important step to support the expansion of free enterprise and the expansion of the entrepreneurial business sector in Cuba,” a senior U.S. official told reporters on Tuesday. The Cuban government did not immediately respond to a request for comment on the policy changes. In crafting the measures, U.S. officials, who briefed reporters on condition of anonymity, signaled they had sought to balance the goal of bolstering the private sector with a desire to avoid benefit to Cuban authorities. President Joe Biden took office in January 2021 with hopes high in Cuba for a reversal of a harsh Trump-era approach, but Cuba’s crackdown on protests during the summer of that year prompted the administration to keep pressure on Havana. The new measures would exclude Cuban officials, military officers and other government “insiders,” with the aim of minimizing resources available from the benefits to the Cuban government, the officials said. Republican U.S. Representative Maria Elvira Salazar, a Cuban American lawmaker from South Florida, quickly criticized the Democratic administration’s announcement. “The Biden Admin is now giving the ‘Cuban private sector’ access to the U.S. financial system,” she said in a post on X. “This would make a mockery of American law, considering no progress has been made toward freedom on the Island and repression has intensified.” OPEN FOR BUSINESS Cuba has long blamed the embargo — a tangled web of U.S. laws and regulations that complicates financial transactions by the Cuban government — for decades of economic crisis that have left it with little choice recently but to open its economy to small private business. Such businesses — for decades taboo in Communist-run Cuba — are now booming on the island. New Cuban laws put in place in 2021 have seen the establishment of upwards of 11,000 small businesses as of May, the government has said, ranging from corner grocers to plumbing, transportation and construction businesses. Those businesses employ upwards of 15% of Cuban workers and accounted for around 14% of gross domestic product, according to economy ministry statistics from late 2023. The regulations announced on Tuesday also authorize U.S. banks to once again process so-called “U-Turn” fund transfers, allowing them to move money for Cuban nationals — including payments and remittances — so long as senders and recipients are not subject to U.S. law. Such measures are a step in the right direction, said John Kavulich, president of the U.S.-Cuba Trade and Economic Council, but he noted a “glaring omission” in the policy: Cuban businesses are still handicapped by a requirement that they use banks in third countries to move their money. “As long as financing, investment, and payments need to be routed through third countries, the Biden-Harris Administration will be constraining precisely the activity it professes to support,” Kavulich said in an email. There was no sign that Tuesday’s announcement could foreshadow a more significant easing of U.S. sanctions and other restrictions on Cuba, beyond the modest steps that Biden has already taken since he became president. Some analysts have attributed Biden’s cautious handling of Cuba issues to his concern that a softened approach to Havana could hurt him politically among strongly anti-communist Cuban American voters in Florida, a key swing state that he lost to Trump in the 2020 election. The U.S. officials declined to say whether the administration was conducting a formal review of Cuba’s continuing presence on the State Department’s list of state sponsors of terrorism.
Its Future in Doubt, the Freewheeling ‘Inside the NBA’ Is on Edge Instead 2024-05-28 19:45:37+00:00 - The future of “Inside the NBA” was already a sensitive topic when Charles Barkley stepped into an elevator in Minneapolis after Game 3 of the Western Conference finals late Friday night. Barkley’s on-air candor as an analyst is a key reason that the studio show has become so influential and beloved among basketball fans and around the league. But these are tense times for the show and those who work on it. Warner Bros. Discovery has not secured the rights to continue broadcasting N.B.A. games on TNT beyond next season. Without those, the long-term future of “Inside the N.B.A.” is uncertain. So when Barkley, who had already batted away several attempts by security and public relations officials to prevent him from doing an interview, ushered me into an elevator filled with his co-workers, not everyone was happy. Kenny Smith, Barkley’s on-screen foil, voiced his irritation. But Barkley, as he has done throughout his decades in the public eye, made clear that he wouldn’t be muzzled. “Hey man, I can talk to who I want to,” Barkley said to Smith, using an expletive. Others in the elevator shifted uncomfortably.
We were paid $10,000 to move from Austin to Arkansas. It wasn't perfect, but we have no regrets. 2024-05-28 19:44:19+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Nearly every time I mentioned my impending move to Arkansas, I was asked, "Why there?" It was a curious choice, especially considering I was leaving bustling and lively Austin for Fayetteville, Arkansas, a city known for little more than historical monuments and college football. My somewhat tongue-in-cheek reply to the above inquiry is that I was bribed. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Money talks, and it said, 'move' Alisha McDarris My conversation-prompting response wasn't entirely untrue. Advertisement The Northwest Arkansas Council had launched Life Works Here, an initiative that offered $10,000 in cash or bitcoin and a mountain bike to selected remote-work applicants in exchange for moving to the region. My husband and I are both self-employed, so we could live anywhere but we didn't have an abundant amount of funds to do so in a place with a stratospheric cost of living. So when we heard about the grant program designed to entice people who worked from home to move to Northwest Arkansas, we thought, "Why not?" Ready to leave burgeoning Austin, whose shine had begun to patina after eight years, we each applied for the initiative alongside tens of thousands of others. Advertisement When my application was one of 100 accepted, we started packing. After all, the cost of living in the Texas city was rapidly rising and we craved more adventure and outdoors than Austin's manicured parks and overcrowded campsites could offer. Related stories And maybe Arkansas wasn't that big of a jump, anyway. Although Texas had more inbound movers than outbound movers last year, so did Arkansas. According to data collected by major moving company Atlas, Arkansas was actually even more of a relocation hot spot than Texas was in 2023. Our move came with rough starts and fresh discoveries We moved in July 2022 and were immediately disenchanted because we arrived during what appeared to be a housing crisis. Advertisement This added panic and urgency to our housing search. I was also confused as to why we'd been enticed to move if there weren't enough places to actually live here. When we finally found a suitable apartment that was much cheaper than what we'd pay for something similar in Austin, we realized we'd made a mistake: Our new place was one highway exit from the Arkansas Razorback stadium. Living there became a headache that lasted through the late summer and autumn as fans clogged the streets and angrily honked at anyone not wearing the team's signature red. Still, we enjoyed exploring our new community. We learned to mountain bike, as one does when moving 30 minutes south of Bentonville, the mountain-bike capital of the world. Advertisement We joined group rides and participated in trail maintenance, and we became passionate about mountain biking. We enjoyed backpacking trails minutes from our doorstep, visiting campsites that didn't have to be reserved months in advance, and finding accessible outdoor activities in the surrounding national forest. We found it easier to connect with fellow creatives and became friends with small-business owners who were just as invested in their communities as they were in their own success, which isn't always the case in large cities. After six months, we knew Arkansas wouldn't be our forever home We later moved to Utah. Jason Cameron/Getty Images Living here was an honor and a privilege, our chance to sample a different sort of existence in a smaller town that loved the outdoors but with little financial risk. Our Arkansas town had much of what we longed for but showed us we really wanted more: towering peaks, a community of equally passionate outdoor lovers, and the opportunity to try even more sports. Advertisement And because we uprooted and moved once with little-to-no concrete evidence it was the right decision, we now knew we could do it again. In the end, we left Arkansas after 15 months and moved to a small city near the Wasatch Mountains in Utah. I regret nothing about our transitional period in Arkansas. Our time there was a necessary stepping stone across the river of life, a leap that made the next one seem attainable. Now, my soul soars when I marvel at peaks from uncrowded trails, cruise downhill on two wheels, and, yes, even tentatively learn to snowboard. Advertisement And it's thanks to Arkansas that I realized what I needed to truly thrive.
Roth conversions are up in 2024 — but it's not always a 'slam dunk,' accountant says 2024-05-28 19:42:00+00:00 - Roth individual retirement account conversions are up in 2024 — but there are key things to know before converting funds, experts say. There was a 44% year-over-year increase in the number of Roth conversions during the first quarter of 2024, according to data from Fidelity Investments. Roth conversions transfer pretax or nondeductible individual retirement account funds to a Roth IRA, which provides future tax-free growth. However, "it isn't a slam dunk for everyone" because it takes time for tax-free growth to exceed your upfront tax bill, said Marianela Collado, a certified financial planner and CEO of Tobias Financial Advisors in Plantation, Florida. More from Personal Finance: Here's why you may be saving more in your 401(k) — and not even know it You could score a tax break for hiring your own kids this summer — if you follow the rules Cash discounts, while still rare, are up over 60% from 2015. Here’s how much you can save Investors need "sufficient assets" outside of retirement accounts to cover the upfront tax bill, warned Collado, who is also a certified public accountant. You'll also need to weigh how the additional income during the year of the conversion impacts eligibility for certain tax breaks. Higher earnings can also trigger income-related monthly adjustment amounts, or IRMAA, for Medicare Part B and Part D premiums down the line. (IRMAAs for a given year are typically determined based on your tax return from two years prior.) Of course, the tax consequences hinge on how much you convert and your tax brackets for the year.
Argentinian president to meet Silicon Valley CEOs in bid to court tech titans 2024-05-28 19:23:00+00:00 - Javier Milei, Argentina’s president, is set to meet with the leaders of some of the world’s largest tech companies in Silicon Valley this week. The far-right libertarian leader will hold private talks with Sundar Pichai of Google, Sam Altman of OpenAI, Mark Zuckerberg of Meta and Tim Cook of Apple. Milei also met last month with Elon Musk, who has become one of the South American president’s most prominent cheerleaders and repeatedly shared his pro-deregulation, anti-social justice message on X (formerly Twitter). Peter Thiel, the tech billionaire, has also twice visited Milei, flying to Buenos Aires to speak with him in February and May of this year. The raft of meetings with tech leaders is part of Milei’s broader campaign to court international influence and allies following his election late last year. Along with holding events at libertarian thinktanks and talks with CEOs, Milei spoke at a rally in Spain earlier this month in support of the country’s far-right, anti-immigrant Vox party. Domestically, Argentina faces its worst economic crisis in decades and widespread protests against the government’s harsh austerity measures. High-flying Milei, however, has been on an international diplomacy tour during his first six months in office. He has visited the US four times and been on eight foreign tours, a record for Argentinian presidents during the start of their term. Milei emerged as a political outsider to win a run-off vote in Argentina’s election last November, gaining attention for his eccentric, bombastic behavior and campaign promises to make extreme cuts to almost all government ministries. During the election he called Pope Francis a “son of a bitch preaching communism” and revealed he had multiple cloned dogs named after conservative economists. Milei’s attacks on abortion access, opposition to gender equality and revisionist history of Argentina’s military dictatorship have enamored him to the global right while alarming human rights groups. Among one of his biggest supporters is the Tesla CEO, who has tried to forge friendly ties with rightwing world leaders as he seeks favorable treatment for his many companies. Milei has spoken publicly about Musk’s interest in Argentina’s vast deposits of lithium, a key mineral for powering modern batteries, and pushed for deregulation that would cut costs for mining companies. After Milei’s visit to Musk in April, the Argentinian government stated that the two “agreed on the need for free markets and [to] defend the ideas of freedom”. Milei’s arrival in Silicon Valley comes after he held a stadium show for his book release in Buenos Aires last week, which featured him singing for a live rock band and blaming Argentina’s economic problems on “enemies who are trying to overturn this government because they want socialism and misery to continue”. Although tech companies such as Google and Facebook once heavily promoted their platforms as tools to protect and bolster democracy, major platforms have increasingly tried to frame themselves as apolitical. Google recently fired dozens of workers after protests at its offices over a $1.2bn contract with Israel’s government and military, with Pichai saying that the company was not a place “to fight over disruptive issues or debate politics”.
Why Eli Lilly shares should be up on its latest news, plus Nvidia keeps rolling 2024-05-28 19:22:00+00:00 - Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We're no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Nvidia vs. the rest: The markets are off to a mixed start to this holiday-shortened week. Nvidia continues to chug higher, extending its post-earnings run to about 20% and bringing its market capitalization to roughly $2.8 trillion. The Nasdaq gained 0.4%, breaking above 17,000 for the first time ever. But outside of the chipmaker and some of the direct beneficiaries of the AI infrastructure build-out, the broader market is having a tougher day as it deals with rising Treasury yields. "There's not enough money to take up Nvidia this much and the rest of the market," Jim Cramer said. "The money is coming out from companies you'd usually buy for being recession-proof." Indeed, two of the worst performing sectors as of midday Tuesday were defensive: healthcare and consumer staples. Salesforce squeezed : Salesforce has been getting hit on both sides of the M & A coin recently. The stock sold off in April on concerns that management would break its margin and expense discipline by re-engaging in large-scale acquisitions through buying Informatica . At the same time, the stock is pulling back Tuesday on speculation that Alphabet is interested in buying HubSpot , a marketing software company that competes with Salesforce. CNBC's David Faber confirmed those talks were true Tuesday on "Squawk on the Street." Salesforce reports Wednesday after the closing bell and the enterprise software company will have to show it has enough growth to ease concerns that it needs to buy something. No love for Lilly news: Eli Lilly has been on a tear over the past couple of years and made a new all-time high last Thursday. But we're a little surprised by how the stock hasn't reacted to its latest GLP-1 capacity expansion announcement. The company said Friday it has more than doubled its investment in an Indiana manufacturing site with a new $5.3 billion commitment. While it will take several years before this site makes medicine, investing to expand its manufacturing footprint is smart because it will ease future capacity constraints. Management having greater visibility into its production expansion was a key reason why it was able to raise its full-year sales outlook by $2 billion in the first quarter. "When you have to build to meet demand, you have a pretty high quality problem," Cramer said. Up next: The Mediterranean fast casual chain Cava reports after the closing bell. Abercrombie & Fitch , Chewy , Dick's Sporting Goods , and Advance Auto Parts reports Wednesday morning. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Jensen Huang, co-founder and CEO of Nvidia, during the Nvidia GPU Technology Conference in San Jose, California, on March 19, 2024. David Paul Morris | Bloomberg | Getty Images
Judge Aileen Cannon hands Trump another win in classified document case 2024-05-28 19:21:15+00:00 - On Friday, special counsel Jack Smith moved to modify Donald Trump’s release conditions in the classified documents case, asking U.S. District Judge Aileen Cannon to clarify that the defendant can’t make statements putting law enforcement in danger. The special counsel cited “several intentionally false and inflammatory statements recently made by Trump that distort the circumstances under which the Federal Bureau of Investigation planned and executed the search warrant at Mar-a-Lago.” For background, my colleague Steve Benen explained that the presumptive GOP presidential nominee claimed on his social media platform that the Justice Department had: ... ‘AUTHORIZED THE FBI TO USE DEADLY (LETHAL) FORCE’ while executing a court-approved search warrant at Mar-a-Lago. Trump issued an outlandish fundraising appeal soon after, falsely claiming that President Joe Biden was ‘locked & loaded’ and ‘ready to take me out’ during the FBI’s search of his glorified country club. Smith told Cannon in his motion that Trump’s false suggestion that agents were complicit in a plot to assassinate him has exposed the agents “to the risk of threats, violence, and harassment.” The special counsel argued: A condition of release that prohibits the defendant from making statements posing a significant, imminent, and foreseeable danger to law enforcement agents participating in the investigation and prosecution of this case is warranted and necessary here. Such a prohibition will also minimize further prejudice caused by the defendant directing false and inflammatory messages regarding the facts of this case to potential jurors who may be summoned by the Court for jury service in this matter. In a footnote to Smith’s motion (which becomes important later), the special counsel’s office noted that it had sought to confer on the matter with Trump’s lawyers, who objected to the motion as well as the timing of a holiday weekend conferral. Yet, Smith observed that Trump had continued to make false statements about the agents. In response Monday, Trump’s lawyers complained not only about the request “to impose an unconstitutional gag order on President Trump” based on “vague and unsupported assertions,” but also that the government lawyers involved in Smith’s motion should be sanctioned for filing it “without meaningful conferral.” As ever, the lawyers in the case are living on different planets, and Cannon’s response shows that she’s still living on something closer to Trump’s. In an order Tuesday, the Trump appointee who’s been slow-walking the case denied Smith’s motion “for lack of meaningful conferral.” She also chastised the government’s use of “editorialized footnotes” and what she deemed its lack of professional courtesy. Importantly, however, she denied Smith’s motion “without prejudice,” meaning that the Justice Department can try again after complying with the judge’s procedural dictates. (She also denied Trump’s motion to strike and for sanctions “without prejudice.”) While the government will be able to clear Cannon’s procedural formality, the bigger question will be how she receives the substance of the presumably forthcoming motion. Given her handling of the case thus far and the tone of her latest order, Smith may have a tough task with this judge yet again, one that could finally lead to the special counsel taking Cannon up on appeal and possibly building a case to try and get a new judge to preside. Subscribe to the Deadline: Legal Newsletter for weekly updates on the top legal stories, including news from the Supreme Court, the Donald Trump cases and more.