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Search and rescue efforts underway as helicopter carrying Iran's President Raisi suffers 'crash landing' 2024-05-19 13:19:00+00:00 - A helicopter with Iranian President Ebrahim Raisi on board suffered a "crash landing" Sunday, state media reported, with weather complicating rescue efforts. Raisi's condition was unclear, according to state news reports, which also aired prayers for his safety. Late Sunday afternoon, Vice President Mohsen Mansouri reported that two people from the flight had made contact with the rescue team. It was unknown whether Raisi was one of those two passengers. Iranian President Ebrahim Raisi. Jason DeCrow / AP file As the search began, Iranian state media reported the location of the helicopter crash had been identified. The commander of the East Azerbaijan Army said a signal from the helicopter and a cellphone belonging to one of the crew members at the accident site was received “minutes ago.” “Right now, we are leaving with all the military forces to the area in question, and I hope to give good news to the people,” the commander said. At least 40 rescue teams have been deployed, including drones and search dogs, but harsh weather and heavy fog were making it difficult for them to reach the site, state media said. Eight ambulances have been sent to the crash site, and fog was preventing air rescue, it added. Iran's foreign minister, Hossein Amir-Abdollahian, was also traveling in the helicopter, along with East Azerbaijan's governor, Malik Rahmati, and Raisi's security detail, it said. State TV IRIB said the helicopter belonged to the Iranian Red Crescent, which Iranian Interior Minister Ahmad Vahidi said was part of a larger convoy. Their conditions were also unknown. “Various rescue groups are moving towards the site, but due to the fog and bad weather, it may take time to reach the area,” Vahidi said in comments aired on state media. The officials were returning from the border with the country of Azerbaijan — in the northwest of Iran, 375 miles from the capital, Tehran — where Raisi was inaugurating a dam on the Aras river with Azerbaijan President Ilham Aliyev. Initially, reports put the incident near the city of Jolfa, but later they said it was farther east, near the village of Uzi. Details remain contradictory. The Qiz Qalasi Dam, the third dam jointly built by Iran and neighboring Azerbaijan, took almost two decades to complete, according to state media. “Azerbaijan stands ready to offer any assistance needed,” Aliyev said in a post on X. “We were profoundly troubled by the news of a helicopter carrying the top delegation crash-landing in Iran.” State media showed Red Crescent rescuers moving through dense fog with only a few meters of visibility and said the helicopter is believed to have crashed in a rural forest. With no clarity about Raisi's condition, worried Iranians began offering prayers, with dozens gathering in the city of Qom, a holy city for Shiite Muslims, state media showed. Raisi's Instagram page also posted a story asking people to pray for him. Although Raisi is the elected president and leads the government, he still answers to Iran’s supreme leader, Ayatollah Ali Khamenei, who is the head of state. In case of Raisi's death, First Vice President Mohammad Mokhber would be next in line for the presidency after having received a nod from Khamenei. A new president then must be elected in 50 days. While Iran flies a variety of helicopters, international sanctions have made it difficult for Tehran to obtain the required parts for them. Most of the helicopters operated by the military date to before the 1979 Islamic Revolution. Raisi, 63, is under sanctions by the U.S. over his involvement in the mass execution of thousands of political prisoners in 1988 at the end of the bloody Iran-Iraq war. He was re-elected in 2021, in an election with the lowest turnout in the Islamic Republic's history. A hard-liner, Raisi formerly led the country's judiciary and is viewed as a protégé of Khamenei and a likely contender to the throne. Mahsa Amini’s death in police custody two years ago triggered a wave of protests across the country that mushroomed into the largest challenge to the theocratic regime since its founding in 1979. The government rounded up protesters in a violent crackdown that killed hundreds of people. In an interview with NBC News last year, Raisi defended the government’s response, warning that those who try to sow instability in the Islamic Republic would pay a “big cost.” Under Raisi, Iran now enriches uranium at nearly weapons-grade levels and hampers international inspections. Iran has armed Russia in its war on Ukraine, as well as launched a massive drone and missile attack on Israel in its war against Hamas in the Gaza Strip. It also has continued arming proxy groups in the Middle East, including Yemen’s Houthi rebels and Lebanon’s Hezbollah.
Tata agrees Port Talbot deal with National Grid despite union criticism 2024-05-19 13:16:00+00:00 - Tata Steel has reached a deal with the UK’s electricity grid to start supplying the energy for new furnaces in south Wales from 2027, as the company moves ahead with its plan despite union opposition. The agreement with the National Grid’s electricity supply operator (ESO), the company that controls how energy is moved around Great Britain, will provide hundreds of megawatts of power to a new electric arc furnace at the steelworks in Port Talbot. Tata Steel is planning to shift rapidly from two polluting blast furnaces – which can produce 5m tonnes of steel, but also nearly 2% of UK carbon emissions – to electric technology that can produce up to 3.2m tonnes of recycled steel a year. The plan will cut emissions dramatically, but it will also mean as many as 2,800 steelworkers will lose their jobs, in a devastating blow to a community built around the works. The first blast furnace is due to close at the end of June, followed by the second blast furnace and the “heavy end”, which makes steel from iron, in September. Tata Steel is expected to open a voluntary redundancy scheme as early as next week, after initially planning to do so this week. Tata Steel has been in talks with ESO since 2020, as it considered options to decarbonise. Upgrades to grid connections, and particularly linking the “generation-rich” north to the “demand-rich” south of the UK, are increasingly important, said Marc Hedin, the head of research for UK and Ireland, at Aurora Energy Research. Hedin said he did not believe that any other projects would have been pushed back to make way for the Tata Steel connection, and existing infrastructure would limit the cost to the grid. Nevertheless, the agreement signals that Tata is pushing forward on an ambitious timescale for the switch. It hopes to make an order for the furnace equipment by September, and to start construction by August 2025. Unions have argued that Tata could avoid making thousands of redundancies by keeping one blast furnace open until 2032 while also building the electric arc furnace. However, Tata has rejected that plan, arguing that it was financially unsustainable, and is starting consultations with workers about redundancies. Charlotte Brumpton-Childs, a national officer at GMB union, said: “Tata Steel seems to be quite happy moving on and agreeing deals with the National Grid. But the thousands of steelworkers whose lives they’ve ruined would like them to put a bit more time into agreeing their redundancy terms – or even an approach to decarbonisation that doesn’t result in compulsory redundancies.” Port Talbot steelworkers represented by the Community union last week voted overwhelmingly in favour of industrial action, as have Unite members. GMB has been forced to rerun its ballot to meet legal requirements. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Tata Steel has claimed that workers will receive worse redundancy terms if they proceed with industrial action. The government indicated that it worked to speed up the connection, after backing Tata’s plan with a pledge of £500m in financial support. In a statement provided by Tata Steel, the investment security minister Alan Mak, said: “Accelerating grid connection timescales is a top priority for government and we are working closely with Ofgem and the network companies to transform the electricity network at a scale and pace not seen for decades.” Rajesh Nair, the chief executive of Tata Steel UK, said the grid connection was a “critical milestone in transforming our steelmaking operations in Port Talbot”. “Having access to higher-power electricity is a foundation stone for greener steelmaking, regardless of the technology choice,” he said. “This agreement means we will have sufficient power for our new electric arc furnace and the capability in the longer-term to further strengthen our business.”
Fox News' Trump trial coverage proves it's no longer Rupert Murdoch's network 2024-05-19 10:00:41+00:00 - “Everybody — Alan Dershowitz — everybody says there’s no crime here,” Donald Trump said before his trial in Manhattan resumed on Thursday. “There’s no crime. Jonathan Turley, every single person, Gregg Jarrett, Andy McCarthy, anyone you want to name, Mark Levin, great lawyer, all of them. Great lawyers, great legal scholars, every single one said there’s no crime. The crime is that they’re doing this case.” What do Dershowitz, Turley, Jarrett, McCarthy and Levin have in common? Each has been a fixture on Fox News during its coverage of Trump’s trial. The five have combined for at least 116 weekday Fox appearances from when jury selection began on April 15 through Wednesday, according to Media Matters’ database (Levin also hosts his own show that airs on Fox on Saturday and Sunday nights). It is impossible to overstate Fox’s impact on Trump’s worldview. Trump’s effort to delegitimize this trial leans heavily on favorable commentary from his friends at Fox. The former president is regularly promoting trial takes from the network, which has offered a full-throated defense of Trump and an unrelenting attack on everyone involved in his prosecution. Indeed, as Trump finished speaking and entered the courthouse on Thursday, Fox brought on McCarthy and Turley to preview the day’s trial testimony. It is impossible to overstate Fox’s impact on Trump’s worldview. The insight he garnered about the GOP base as a regular on “Fox & Friends” helped him to win the presidency. As chief executive, he reportedly used what he called a “Super Tivo” at the White House to watch hours of the network’s programming each day. (In fact, the “Super Tivo” may have been regular DirecTV.) He filled his administration and his personal legal teams with familiar faces from the network’s green rooms; consulted with Fox’s stars as if they were Cabinet members; and adopted positions on a wide variety of federal policies, from pardons to contracts to spending legislation to pandemic response, based on what he heard from the people on his television screen. As Fox remade itself during the Trump administration as a propagandistic extension of his White House, Trump habitually promoted its incessantly favorable commentary as part of his communications strategy. He regularly tweeted in near-real time in response to what he was seeing on the network, a phenomenon I termed the Trump-Fox feedback loop. He also frequently shared video clips of the network’s stars defending him and attacking his foes. After Trump lost his re-election bid, attempted to stay in office by subverting the election results, and ultimately left the White House, his relationship with the network became somewhat more complicated. Fox founder Rupert Murdoch preferred for Trump to fade from the political scene, and for a while the network propped up his potential rivals and even reportedly instituted a “soft ban” on Trump interviews. But the network’s stars never really broke from Trump, and as he reconsolidated support from the GOP base, it was inevitable that Fox would return to its role as his megaphone. The New York trial, which comes in the wake of Trump establishing himself as the presumptive Republican presidential nominee, has provided Fox with an opportunity to prove its loyalty. Commentators have lashed out at District Attorney Alvin Bragg, his prosecutors and the case they have presented; criticized the judge, witnesses and jurors at the trial; and baselessly blamed President Joe Biden for Trump’s legal peril. Fox hosts have even gone so far as to praise Trump for repeatedly falling asleep in court, with some even claiming that they too would nod off under the circumstances. Trump’s Truth Social feed has become a nonstop stream of clips in which Fox hosts, contributors and guests lash out at the various cases against him. Turley, Dershowitz, Jarrett, McCarthy and Levin have not been quite that comically sycophantic, but all are using their Fox perches to throw cold water on Bragg’s case. And you can tell Trump appreciates their work because he keeps highlighting it in his public appearances. “I did nothing wrong,” he said before court on May 6. “Take a look at Gregg Jarrett this morning, he went off. Take a look at Andrew McCarthy or Jonathan Turley or Mark Levin. They say there is no case here.” Before court on May 9, Trump purported to provide the opinions of “the top legal scholars in the country.” He then read comments criticizing the prosecution and the judge from Turley, Dershowitz, McCarthy and Fox contributor Newt Gingrich. Trump went through a similar litany before court on May 14, reading quotes attacking the case or the judge (and frequently interjecting with his own criticisms) from Levin, McCarthy, Turley, and Fox host Jeanine Pirro. Likewise, Trump’s Truth Social feed has become a nonstop stream of clips in which Fox hosts, contributors and guests lash out at the various cases against him, including videos featuring Turley, Dershowitz, Pirro, McCarthy and Jarrett. Trump may not have scoured Fox’s stable of legal analysts to fill his defense team, as he did in 2020 for his first impeachment trial. But as the 2024 presidential election ramps up, it is clearer than ever that the network is doing everything it can to help him, including undermining the rule of law.
Greg Abbott pardoning killer of Black Lives Matter protester sends chilling message 2024-05-19 10:00:00+00:00 - On Thursday, a convicted murderer serving a 25-year sentence was set free in Texas. He wasn’t set free because DNA analysis determined he was innocent. Nor was there some legal technicality successfully raised on an appeal. Daniel Perry, who was an active-duty Army sergeant at the time of his crime, never disputed that he shot and killed 28-year-old Air Force veteran Garrett Foster, in front of multiple witnesses, during a 2020 Black Lives Matter protest in Austin. Rather, Perry was pardoned by Texas Gov. Greg Abbott as Abbott promised to do the day after the jury issued its verdict. According to the Houston Chronicle, Thursday was ‘the first time in at least decades that a Texas governor has pardoned someone for a serious violent crime, let alone murder.’ Abbott promised to free Perry even though a Texas grand jury indicted Perry, and a jury of Perry’s peers in Texas convicted him. Abbott promised a pardon before the pardon board, whose members he appoints, issued its findings. The governor was under pressure to issue the pardon from a number of high-profile conservatives, including Tucker Carlson. According to the Houston Chronicle, Thursday was “the first time in at least decades that a Texas governor has pardoned someone for a serious violent crime, let alone murder.” Adding to the highly charged political nature of this pardon, Abbott was scheduled to address the 2024 National Rifle Association conference this weekend along with former president and current candidate Donald Trump. According to Foster’s mother, he attended the BLM demonstrations day after day, animated by the injustice of a Minneapolis police officer killing George Floyd. Ironically, Foster’s mother described Foster as a Second Amendment advocate, and witnesses say Foster was carrying a rifle on a strap around his neck the day he died. Perry drove his car up to a crowd of protesters who surrounded his vehicle. From inside his car, Perry drew a handgun and fired at Foster. Most witnesses describe Foster as having his rifle slung tight to his chest, pointed down at the ground, with his finger off the trigger. Witnesses say they never saw Foster raise his firearm at Perry. Yet, those details mattered neither to Abbott nor his pardon board. They said Foster’s weapon was in the “low ready gun” position,” which, they say, is enough to call Perry’s actions self-defense. That’s interesting — because Perry never claimed Foster was pointing his rifle at him. Perry told police, “I believe he was going to aim [his rifle] at me. I didn’t want to give him a chance.” Saying you shot someone you thought might eventually aim a weapon at you isn’t self-defense; it’s an admission that you weren’t being threatened. If Perry didn’t shoot Foster out of self-defense, then what was his motivation? During trial, prosecutors presented messages Perry sent before the shooting. Some of the messages talked of wanting to kill Muslims, Black people and protesters. Other messages included: “I might have to kill a few people on my way to work they are rioting outside my apartment complex.” “It is official I am a racist because I do not agree with people acting like animals at the zoo.” “I might go to Dallas to shoot looters.” “No protestors go near me or my car." Saying you shot someone you thought might eventually aim a weapon at you isn’t self-defense; it’s an admission that you weren’t being threatened. Perry, who is white and was serving in the military, shot Foster, who was also white and a military veteran. Both were legally carrying their weapons that day. So, this wasn’t about Foster’s skin color, just as it wasn’t about a legally accepted self-defense claim. For both Perry and Abbott, this murder and subsequent pardon were about Foster’s cause, Black Lives Matter, and whom Foster chose to associate with. It’s hard to imagine a Black Lives Matter protester killing someone politically opposed to that cause and that warranting a pardon from Abbott. The governor setting Perry free suggests that in Texas, it’s open season on protesters whose cause isn’t approved by the governor. Texans are known for valuing at least two things — their freedoms and their guns. Yet, with this pardon, Texans should wonder whether their constitutional right to peacefully protest and to lawfully carry a weapon depend on what they’re protesting and who’s carrying the gun.
The High-Class Problem That Comes With Home Equity 2024-05-19 09:01:23.869000+00:00 - A lot of money is tied up in people’s homes. Those who need to tap it most, however, may have the hardest time doing so. Paying a mortgage is a form of forced savings. If you want to stay in your home, you have no choice but to make each payment. That money — plus appreciation in the home’s value — now equals $31.8 trillion for all households, according to the Federal Reserve, more than three times what it was in 2012. Saving for retirement, on the other hand, is not mandatory. As a result, some homeowners end up with a lot of home equity but low retirement savings. Here’s the problem with that situation. A retirement account is relatively easy to tap, and you can do it quickly. Home equity? Not so much.
Renting Forever and Trying to Create a Strong Financial Future 2024-05-19 09:00:56+00:00 - Moving back and forth from Tennessee to Alaska, Michael Rogers and his wife Christy have twice been stuck simultaneously paying a mortgage and rent. Once, in 2006, the situation dragged on for eight months, finally ending when they sold their house in Tennessee for $20,000 below what they’d paid for it. Other adventures in homeownership ended well — the couple doubled their money after selling a fixer-upper. Then later, with another property, they had to pay out $30,000 to fix a mudslide around their home, a mistake caused by the builder. Two years ago, the Rogerses moved to Kingsport, in northeastern Tennessee, where they signed a lease on an apartment they thought would be a yearlong stopgap before buying again. The couple just renewed their lease for a third year, and have decided to remain renters for good. Mr. Rogers, a construction manager, likes the convenience of being able to move when a job calls.
How Lowriders Put a Vivid Stamp on New York City’s Car Scene 2024-05-19 07:00:22+00:00 - Growing up in Mexico, Marco Flores fantasized about the lowrider cars he saw in magazines, studying their colorful bodies and gleaming engine compartments. He adored his father’s Chevrolet Chevelle, too. In a tribute, Mr. Flores eventually restored a Chevelle in electric blue — the same muscle car his father had owned — with the help of his children. Now his custom-made creations, which he designs and fabricates after work in his garage in Port Chester, N.Y., are featured in those same lowrider magazines. His blue Chevelle “represents my entire childhood and the passion I have for cars,” said Mr. Flores, 55, who works six days a week at a Mamaroneck auto body shop. “When I turn the ignition, I am overcome with the emotion of feeling my father knows I did this for him.” Family is a pillar of lowrider culture, which flourished in car-crazy postwar Los Angeles among Mexican Americans who took used cars they could afford and transformed them into bouncing, rolling works of art. Just as Mr. Flores shared his skills with his children, many fans embrace the scene as a family-friendly way to honor traditions and celebrate accomplishments, adding hydraulics in the trunk, bright paint across the body and iconography like Our Lady of Guadalupe on the hood.
Companies are trying to attract more smartphone users across Africa. But there are risks 2024-05-19 06:17:07+00:00 - ACCRA, Ghana (AP) — Anita Akpeere prepared fried rice in her kitchen in Ghana’s capital as a flurry of notifications for restaurant orders lit up apps on her phone. “I don’t think I could work without a phone in my line of business,” she said, as requests came in for her signature dish, a traditional fermented dumpling. Internet-enabled phones have transformed many lives, but they can play a unique role in sub-Saharan Africa, where infrastructure and public services are among the world’s least developed, said Jenny Aker, a professor who studies the issue at Tufts University. At times, technology in Africa has leapfrogged gaps, including providing access to mobile money for people without bank accounts. Despite growing mobile internet coverage on the continent of 1.3 billion people, just 25% of adults in sub-Saharan Africa have access to it, according to Claire Sibthorpe, head of digital inclusion at the U.K.-based mobile phone lobbying group GSMA. Expense is the main barrier. The cheapest smartphone costs up to 95% of the monthly salary for the poorest 20% of the region’s population, Sibthorpe said. Literacy rates that are below the global average, and lack of services in many African languages — some 2,000 are spoken across the continent, according to The African Language Program at Harvard University — are other reasons why a smartphone isn’t a compelling investment for some. “If you buy a car, it’s because you can drive it,” said Alain Capo-Chichi, chief executive of CERCO Group, a company that has developed a smartphone that functions through voice command and is available in 50 African languages such as Yoruba, Swahili and Wolof. Even in Ghana, where the lingua franca is English, knowing how to use smartphones and apps can be a challenge for newcomers. One new company in Ghana is trying to close the digital gap. Uniti Networks offers financing to help make smartphones more affordable and coaches users to navigate its platform of apps. For Cyril Fianyo, a 64-year-old farmer in Ghana’s eastern Volta region, the phone has expanded his activities beyond calls and texts. Using his identity card, he registered with Uniti, putting down a deposit worth 340 Ghanaian Cedis ($25) for a smartphone and will pay the remaining 910 Cedis ($66) in installments. He was shown how to navigate apps that interested him, including a third-party farming app called Cocoa Link that offers videos of planting techniques, weather information and details about the challenges of climate change that have affected cocoa and other crops. Fianyo, who previously planted according to his intuition and rarely interacts with farming advisors, was optimistic that the technology would increase his yields. “I will know the exact time to plant because of the weather forecast,” he said. Kami Dar, chief executive of Uniti Networks, said the mobile internet could help address other challenges including accessing health care. The company has launched in five communities across Ghana with 650 participants and wants to reach 100,000 users within five years. Aker, the scholar, noted that the potential impact of mobile phones across Africa is immense but said there is limited evidence that paid health or agriculture apps are benefiting people there. She asserted that the only beneficial impacts are reminders to take medicine or get vaccinated. Having studied agricultural apps and their impact, she said it doesn’t seem that farmers are getting better prices or improving their income. Capo-Chichi from CERCO Group said a dearth of useful apps and content is another reason why more people in Africa aren’t buying smartphones. Dar said Uniti Networks learns from mistakes. In a pilot in northern Ghana designed to help cocoa farmers contribute to their pensions, there was high engagement but farmers didn’t find the app user-friendly and needed extra coaching. After the feedback, the pension provider changed the interface to improve navigation. Others are finding benefit with Uniti’s platform. Mawufemor Vitor, a church secretary in Hohoe, said one health app has assisted her to track her menstruation to help prevent pregnancy. And Fianyo, the farmer, has used the platform to find information on herbal medicine. But mobile phones are no substitute for investment in public services and infrastructure, Aker said. She also expressed concerns about the privacy of data in the hands of private technology providers and governments. With digital IDs in development in African nations such as Kenya and South Africa, this could pave the way for further abuses, Aker said. Uniti Networks is a for-profit business, paid for each customer that signs up for paying apps. Dar asserted that he was not targeting vulnerable populations to sell them unnecessary services and said Uniti only features apps that align with its idea of impact, with a focus on health, education, finance and agriculture. Dar said Uniti has rejected lucrative approaches from many companies including gambling firms. “Tech can be used for awful things,” he said. He acknowledged that Uniti tracks users on the platform to provide incentives, in the form of free data, and to provide feedback to app developers. He acknowledged that users’ health and financial data could be at threat from outside attack but said Uniti has decentralized data storage in an attempt to lessen the risk. Still, the potential to provide solutions can outweigh the risks, Aker said, noting two areas where the technology could be transformative: education and insurance. She said mobile phones could help overcome the illiteracy that still affects 773 million people worldwide according to UNESCO. Increased access to insurance, still not widely used in parts of Africa, could provide protection to millions who face shocks on the front lines of climate change and conflict. Back in Fianyo’s fields, his new smartphone has attracted curiosity. “This is something I would like to be part of,” said neighboring farmer Godsway Kwamigah. ___ Thompson reported from Dakar, Senegal. ___ The Associated Press receives financial support for global health and development coverage in Africa from the Bill & Melinda Gates Foundation Trust. The AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
Disneyland character and parade performers in California vote to join labor union 2024-05-19 04:49:09+00:00 - ANAHEIM, Calif. (AP) — Disneyland performers who help bring Mickey Mouse, Cinderella and other beloved characters to life at the Southern California resort chose to unionize following a three-day vote culminating on Saturday. The Actors’ Equity Association labor union said in a statement Saturday that cast members for the parades and characters departments at Disney’s theme parks near Los Angeles voted by a wide margin for the union to become the bargaining agent for the group of roughly 1,700 workers. An association website tracking the balloting among cast members indicated passage by 78.7% (953 votes) in favor and 21.3% (258 votes) opposed. “They say that Disneyland is ‘the place where dreams come true,’ and for the Disney Cast Members who have worked to organize a union, their dream came true today,” Actors’ Equity Association President Kate Shindle said in a statement Saturday night. Shindle called the workers the “front lines” of the Disneyland guest experience. The association and cast members will discuss improvements to health and safey, wages, benefits, working conditions and job security before meeting with Walt Disney Company representatives about negotiating the staff priorities into a contract, she said. The union already represents theatrical performers at Disney’s Florida parks. Barring any election challenges, the regional director of The National Labor Relations Board will certify the results within a week, the association said. The NLRB did not immediately respond to an email from The Associated Press seeking confirmation or additional information about the vote. The election took place on Wednesday, Thursday and Saturday in Anaheim, California, after workers earlier this year filed cards to form the unit called “Magic United.” Parade and character workers who promoted unionizing said they love helping to create a magical experience at Disneyland but grew concerned when they were asked to resume hugging visitors after returning to work during the coronavirus pandemic. They said they also suffer injuries from complex costumes and erratic schedules. Most of the more than 35,000 workers at the Disneyland Resort, including cleaning crews, pyrotechnic specialists and security staff, are already in labor unions. The resort includes Disneyland, which is the Walt Disney Co.'s oldest theme park, as well as Disney California Adventure and the shopping and entertainment district Downtown Disney in Anaheim. In recent years, Disney has faced allegations of not paying its Southern California workers, who face exorbitant housing costs and often commute long distances or cram into small homes, a livable wage. Parade performers and character actors earn a base pay of $24.15 an hour, up from $20 before January, with premiums for different roles. Union membership has been on a decades-long decline in the United States, but organizations have seen growing public support in recent years during high-profile contract negotiations involving Hollywood studios and Las Vegas hotels. The NLRB, which protects workers’ right to organize, reported more than 2,500 filings for union representation during the 2023 fiscal year, which was the highest number in eight years. The effort to organize character and parade performers in California came more than 40 years after those who play Mickey, Goofy and Donald Duck in Florida were organized by the International Brotherhood of Teamsters, a union traditionally known to represent transportation workers. At that time, the Florida performers complained about filthy costumes and abuse from guests, including children who would kick the shins of Disney villains such as Captain Hook.
How 'Bridgerton' Season 3 puts a new spin on the 'makeover' trope 2024-05-19 02:28:00+00:00 - Penelope Featherington — and actor Nicola Coughlan in turn — is stepping “out of the shadows” and into the center of the dance floor. In “Bridgerton” Season 3, Penelope takes on the role of romantic lead, following in the footsteps of Season 1’s Daphne (Phoebe Dynevor) and Season 2’s Kate (Simone Ashley). But unlike her predecessors, Penelope isn’t fighting off suitors — she’s seeking them out. Her goals are simple: She wants to run her own home, get out of the overbearing grasp of her mother and have the privacy to continue her gossip-columnist career as Lady Whistledown. However, to do that she needs a husband. So, in true romantic comedy fashion, she gets a makeover. The transformation of a female lead is a familiar one to romance lovers — and that’s the point, according to Season 3’s showrunner Jess Brownell. “We definitely wanted to include a makeover. It is such a trope in the romantic comedy genre, and we’re really leaning into the rom-com vibe this season,” Brownell tells TODAY.com. “We’ve seen that makeover moment so many times, where someone enters and makes a splash. And it’s usually pretty successful.” Typically, the makeover moment catches the attention of the intended subject, the main character’s love interest. Prior to their transformation, the protagonist may have been seen as just a friend or confidant, but now, post transformation, the character gives off a new allurement, sparking chemistry which subsequently leads to love and a happily ever after ending. But not so fast. In “Bridgerton,” Penelope’s makeover yields a different result than the typical rom-com formula would, part of an effort to subvert tropes for a modern audience, Brownell says. Breaking down Penelope’s transformation Putting a Regency spin on scenes from “She’s All That” and “The Princess Diaries,” Penelope — known for bright citrus-colored dresses and tight red ringlets — debuts a new look at the first ball of the season in Episode 1. Standing alone at the top of the stairs, she whips off her cloak to reveal a deep emerald green dress, sparkly black translucent gloves, soft makeup and loose red waves of hair that’s parted gently down her shoulder. In true “Cinderella” fashion, all eyes turn to her as she descends the steps alone, eliciting shock from designated mean girl Cressida Cowper, interest from the eligible bachelors in the room — and forcing Penelope’s eventual love interest Colin (Luke Newton) to take a sip of his drink. In the show, Penelope cites the fashions of Paris as an inspiration. But Erika Okvist, “Bridgerton’s” hair and makeup designer, says the team looked to old Hollywood icons like Rita Hayworth and Marilyn Monroe for Penelope’s new look. “We wanted to develop her so that she became a sexy siren,” Okvist says. Coughlan’s appearance was also inspired by the glamour of 20th century cinema. “To decide on a look, usually you see her face and you analyze, ‘What can I do with this?’” Okvist explains. “(Coughlan’s) face renders itself very, very well for this kind of old Hollywood image.” Her dress style, however, embodied more of the fashion of 1820, costume designer John Glaser says. 1820 marks the end of the Regency period and brought about a different silhouette for women’s clothing. “That look of 1820 kind of resembles a 1950s gown. It’s shorter, which also suits her. It also gave her a waist,” he says. “It made her from a young girl in bright, gaudy colors to a more sophisticated woman who is empowered. She still may be on the wall taking in information, but she’s doing it because now she’s got the power to do it.” Why Penelope’s ‘aesthetic’ change isn’t her ‘real transformation’ But after Penelope makes her grand gesture — fittingly set to a sweeping orchestral cover of “ABCDEFU” by Gayle — she struggles to connect with any of the suitors who approach her, still her awkward, rambling self. Before the end of the night, she finds herself back on the wall. Brownell says the “Bridgerton” team sought to “make a commentary” on the makeover trope in Season 3. “We turn it on its head,” Brownell says. “Penelope does get a makeover, and it attracts a little bit of attention, but it pretty quickly fails spectacularly because she doesn’t have the internal confidence yet to own it.” Coughlan describes Penelope’s new look as an “aesthetic transformation,” one that in the end, “doesn’t really matter.” “She’s not confident in herself. She doesn’t believe in herself,” Coughlan says. Her makeover serves as a red herring. “The real transformation happens through learning to love herself and through loving Colin and becoming a woman and having sex,” Coughlan says. But Penelope’s fashion still can demonstrate this internal change, according to Okvist and Glaser. Penelope’s first look represents what a modiste, or dressmaker, would have suggested she wear in line with trends, while her looks after represent Penelope being in “complete control,” Glaser says. “She realized that she has got an elegant mind. She’s an elegant woman, and she won’t let go of that,” Okvist says. “And she’s earned it. She’s earned the right to make her own look. She’s free of her mother. She’s got her money,” Glaser adds. Her dresses throughout the season become more simple, Glaser says. “There’s not a lot of decoration. There’s not bright colors because we wanted her personality, her character to be the focus, not the clothing,” Glaser says. So when Penelope finds love in Season 3 its because of her, not her attire, Glaser says, putting a new twist on what viewers can take away from a rom-com “makeover.” “If you wanted to do like what Penelope did, just remember, make sure it comes from yourself. Don’t go after a trend,” he says. “Don’t follow anybody’s instincts but your own. And your heart because that will lead you.”
Elon Musk launches Starlink satellite internet service in Indonesia, world’s largest archipelago 2024-05-19 02:26:49+00:00 - DENPASAR, Indonesia (AP) — Elon Musk traveled to Indonesia’s resort island of Bali on Sunday to launch Starlink satellite internet service in the world’s largest archipelago nation. Wearing a green Batik shirt, Musk was greeted with a garland of flower petals at a community health clinic in Denpasar, the provincial capital of Bali, where he launched the Starlink service alongside Indonesian ministers. Indonesia, a vast archipelago of 17,000 islands sprawled across three time zones with a population of more than 270 million, has been trying for years to secure deals with Musk’s Tesla on battery investment and for Musk’s SpaceX to provide fast internet for the country’s remote regions. During the ceremony, Musk took a speed test of the Starlink internet service with several health workers in Indonesia’s remote regions, including in Aru, one of Indonesia’s unserved and outermost islands in Maluku province. “This can make it really a lifesaver for remote medical clinics, and I think it could be a possibility for education as well,” Musk told reporters. “If you can access the internet and then you can learn anything and you can also sell your business services worldwide. So, I think it’s going to be incredibly beneficial,” he said. He also signed an agreement on enhancing connectivity in the country’s health and education sectors. Details about the agreement between the Indonesian government and Musk’s SpaceX, the aerospace company that operates Starlink services, were not provided. Launching the service at a health clinic aligns with Starlink’s broader mission of providing affordable access to high-speed internet services, particularly in underserved and remote regions, said Coordinating Minister of Maritime and Investment Luhut Binsar Pandjaitan. “Our remote regions need Starlink to expand high-speed internet services, especially to help with problems in the health, education and maritime sectors,” Pandjaitan, a close ally of Indonesia’s President Joko Widodo, told reporters. He held separate talks with Musk on Sunday. Communication and Informatics Minister Budi Arie Setiadi said earlier that local internet providers, which rely on base transceiver stations to transmit signals, are unable to reach outer islands because they have limited coverage. Starlink’s satellites, which remain in low orbit, will help them deliver faster internet with nationwide coverage. Health Minister Budi Gunadi Sadikin said of the more than 10,000 clinics across the country, there are still around 2,700 without internet access. “The internet can open up better access to health services as communication between regions is said to be easier, so that reporting from health service facilities can be done in real time or up to date,” he said. During his first in-person visit to Bali, Musk is also scheduled to participate in the 10th World Water Forum, which seeks to address global water and sanitation challenges. Musk spoke in 2022 at the B-20 business forum ahead of a summit of the Group of 20 leading economies that took place in Bali. He joined the conference by video link weeks after completing his heavily scrutinized takeover of Twitter. Musk’s visit comes just weeks after Apple CEO Tim Cook met Widodo on April 17 and said the company would “look at” manufacturing in Indonesia. Microsoft CEO Satya Nadella visited on April 30 and said the company would invest $1.7 billion over the next four years in new cloud and artificial intelligence infrastructure in Indonesia. Indonesia under Widodo has promoted development of the digital technology and information sectors, aiming to achieve the government’s Golden Indonesia 2045 Vision. The country hopes to become one of the world’s top five economies with a GDP of up to $9 trillion, exactly a century after it won independence from Dutch colonizers. ___ Karmini reported from Jakarta, Indonesia.
Can Larry Hogan convince Maryland voters that his 180 on abortion is sincere? 2024-05-18 20:46:14+00:00 - Larry Hogan, the former Maryland governor and current Republican nominee for U.S. Senate, made a drastic — though not entirely unsurprising — turn on abortion rights this week, saying he supports a woman’s right to choose and backs codifying Roe v. Wade. “I support restoring Roe as the law of the land,” Hogan told The New York Times days after his Tuesday GOP primary win. He added that if elected to the Senate, he would support a “bipartisan compromise to restore Roe.” He also said he is “pro-choice,” based on “the definition of what I’m supporting — women’s rights to make their own decision.” Hogan’s latest comments are a notable departure from his time as governor, when he avoided taking a definitive stance on abortion rights in word but not necessarily in deed. As governor, he said abortion rights were “settled law” and that he was not eager to implement draconian early-term abortion bans, as some of his red-state counterparts did. But Hogan was not what anyone would’ve called a champion of abortion rights. In 2022, he vetoed a law to expand abortion access, and when lawmakers overrode his veto, he withheld millions of dollars allocated to train new providers. He also said at the time that the GOP’s focus on abortion was not “smart politics.” His middling stance reflected his position as a moderate Republican governor of a blue state. But since the Supreme Court overturned Roe v. Wade in 2022, abortion has proven a losing issue for Republicans at the ballot box. With the outcome of his race potentially determining the balance of power in the U.S. Senate, and with the looming specter of another Donald Trump presidency, Hogan’s shift to the left on abortion rights shows how much — and how quickly — the stakes have changed as he tries to win over voters who have reliably sent Democrats to the Senate. As recently as March, when Axios asked if he would support legislation to codify Roe into federal law, he gave a noncommittal answer before saying, “That wasn’t a yes or no.” It’s entirely reasonable for politicians’ views to evolve over the years, and Hogan told The Washington Post that his shift on abortion “really wasn’t a major transformation.” Whether voters believe his apparent change of heart is steadfast enough to withstand the inevitable pressure from his party is another issue.
The WNBA is investigating whether Vegas tourism authority can sponsor Aces players for $100K each 2024-05-18 19:38:05+00:00 - LAS VEGAS (AP) — The WNBA is investigating whether the Las Vegas Convention and Visitors Authority’s $100,000 annual sponsorship to Aces player for this season and next is allowed. A league spokesperson confirmed Saturday that there is an open investigation looking into the deal. The sponsorship does not violate the WNBA’s salary cap because the Las Vegas authority did not orchestrate it with the club. But other teams likely were raising questions about the fairness of the sponsorship and whether it violates the spirit of the cap rules. “I’ll put it to you real simple. Most of sponsorship people go after the top two people,” Aces coach Becky Hammon said. “This situation from what I understand is, they wanted the whole team. They called individual agents. I don’t know the details. I have nothing to do with it. The Aces don’t have anything to do with it. That’s what happened.” This isn’t the Aces first run-in with the league over the last few years. Last year, the WNBA suspended Hammon for two games and took away the Aces’ 2025 first-round draft pick because the franchise violated league rules regarding impermissible player benefits and workplace policies. “Just another day in the life of the Aces. We can’t just ever start normal,” star A’ja Wilson said. “There’s always going to be something and that’s OK. When we’re talking about growing the game or taking the next step it can’t always be investigated. It has to be like we’re trying to make things better for franchises, for players for teams.” The head of the authority feels they did nothing wrong. “We did this the right way,” authority president and CEO Steve Hill told The Associated Press on Saturday. “We did something that we think works for Las Vegas and I think great for the players. We did this without the team. It was our idea and any questions they ask they’ll find that out.” The authority posted a video on X of Hill telling the players in the locker room the news on Friday. “We have 100 influencers we pay to represent Las Vegas,” Hill told the AP. “This isn’t any different then that. All of these ladies are completely eligible to have sponsorships. We are just asking them to represent Vegas.” The players were thrilled by the move. “The city of Vegas I’ve always said, it’s a big small town and they just want the best for the people here,” point guard Chelsea Gray said before the Aces’ home game Saturday against the Los Angeles Sparks. “They’re investing in us and so they put their money where their mouth is. We’ve done so much for the city and having fun doing it. “It was a great moment for me and my teammates, of somebody actually putting funds behind, saying that they’re supporting and they want to have our back.” According to the website Spotrac, which tracks player salaries, the sponsorship is higher than the earnings of six Aces players. “Definitely more than my salary,” said rookie Kate Martin, who makes $67,249, according to the website. “I’m super thankful. Sometimes I have to pinch myself to make sure I’m not dreaming, but this is very much real life and that is what all these players deserve. I wouldn’t be getting this crazy bonus if it weren’t for how great all of these players have played in the last few years.” The $100,000 also is a big addition even to what the top players make. A’ja Wilson and Kelsey Plum are the highest-paid Aces at $200,000 each and Gray is right behind at $196,267. “(For) the LVCVA to see our value and to help close that pay gap, it says a lot about the character of the people that are there,” said Alysha Clark, whose salary is listed at $110,000. “So I’m extremely grateful. I’m honored to be able to represent this organization and this city and be able to put on for the city, give back to this city and pour into the community, and that’s what they did for us. It was really, really special.” ___ AP Basketball Writer Doug Feinberg and AP freelance writer W.G. Ramirez contributed to this report. ___ AP WNBA: https://apnews.com/hub/wnba-basketball
Fed’s $7.3 trillion balance sheet is worrying the world’s largest asset manager. Here’s why. 2024-05-18 19:30:00+00:00 - BlackRock sees risks in the Federal Reserve moving to shorten its asset holdings, which could weigh on the dollar and drive up benchmark Treasury yields. - AFP via Getty Images Changes to how the Federal Reserve manages one of world’s most crucial piles of assets pose “underappreciated” risks to financial markets, BlackRock warned in a Friday client note. The Fed in early May said it plans to switch up how quickly it will look to shrink its $7.3 trillion balance sheet beginning June 1, a move that was “barely a side note” in financial markets, according to Tom Becker, portfolio manager at BlackRock’s Global Tactical Asset Allocation team. Most Read from MarketWatch But it was not a minor development in the eyes of BlackRock BLK, which held a record $10.5 trillion in assets in the first quarter, further entrenching it as the world’s largest asset manager. The Fed said its “quantitative-tightening” program will soon allow only up to $25 billion of maturing Treasury securities to roll off its balance sheet each month, instead of the previous $60 billion cap. Any proceeds from maturing mortgage-backed securities (MBS) above the $35 billion monthly cap for those assets also would be reinvested into Treasurys. Yet it’s the makeup of the Fed’s balance sheet and not the “size that matters,” according to Becker. “The composition of the balance sheet today is likely suppressing 10-year [Treasury] BX:TMUBMUSD10Y yields by over 2% and potentially by as much as 4%,” he wrote. The benchmark 10-year rate was near 4.42% on Friday, down from a recent high of 4.7%. BlackRock is bracing for the Federal Reserve to potentially get shorter in duration in its portfolio. - BlackRock If the “economy continues to expand strong and inflation remains sticky, we see a growing chance that future tightening discussions could involve altering the composition of balance-sheet holdings,” Becker added. Read: Fed’s Barkin says consumers are driving inflation. Here’s what they’re willing to pay more for. Importantly, his team views an “active” shrinking approach or “recasting” of the Fed’s balance sheet as “an underappreciated risk,” particularly after November’s U.S. election. Becker pointed to a recent speech by Fed Governor Chris Waller that outlined his preference for shifting toward shorter-dated securities holdings and no MBS exposure. Story continues “Transitioning to a shorter-duration balance sheet would likely drive up long-dated government-bond yields and be negative” for the U.S. dollar DXY, Becker wrote, noting that BlackRock’s Tactical Opportunities Fund PBAIX has those two sets of exposures. To that end, the fund increased its short position on the U.S. dollar this year, but was long U.S. stocks and short long-duration government bonds, as of April 30. “There are voices on the committee now advocating for a substantial reassessment of the balance sheet,” Becker said. The Dow Jones Industrial Average DJIA closed above the 40,000-point mark for the first time ever Friday, sealing a 1.2% weekly advance, according to FactSet data. The S&P 500 SPX booked a 1.5% weekly rise, while the Nasdaq Composite COMP gained 2.1% on the week. Most Read from MarketWatch
Rudy Giuliani loses game of indictment hide-and-seek with Arizona officials 2024-05-18 19:19:56+00:00 - Rudy Giuliani, who for weeks had evaded Arizona officials’ efforts to deliver notice of his indictment in the state election fraud case, was finally served in Florida on Friday night after openly taunting the Arizona attorney general on social media — and at his 80th birthday party, no less. Arizona prosecutors had been trying to locate Giuliani last month, believing that he was filming his YouTube show — one of his last remaining sources of income — from his Manhattan apartment. He is one of 18 defendants indicted in Arizona for allegedly scheming to overturn the 2020 state election results in then-President Donald Trump’s favor. And until Friday night, he was the only defendant who had yet to be served notice of his indictment. Arizona authorities caught up with him at his birthday soirée in Palm Beach late on Friday, NBC News reported. (His actual birthday is May 28.) In a post on X that night, Arizona Attorney General Kris Mayes announced that Giuliani had been served “moments ago.” It was an abrupt twist of fate for Giuliani, who just hours previously had goaded state officials on the same platform, posting a photo of himself beaming among his MAGA cohorts. He wrote that if Arizona prosecutors can’t “find” him by the next morning, “they must dismiss the indictment” and “must concede they can’t count votes.” He also appeared to have livestreamed his YouTube show from the party, speaking with a rotating cast of guests that included Roger Stone and Steve Bannon. Giuliani has since deleted his post on X, but it lives on; Mayes shared a screenshot of it on her account. Giuliani had mocked state prosecutors earlier this week as well, saying on the livestream of his YouTube show that their inability to find him “is perfect evidence that if they’re so incompetent, they can’t find me, they also can’t count votes correctly.” The former New York City mayor — who is notorious for having popularized the practice of creating a public spectacle around criminal defendants — claimed he was unfazed by the latest twist in his legal ordeals. Giuliani’s spokesperson, Ted Goodman, told NBC News that the former mayor was not affected by the effort to “embarrass him” during his party, and that they “look forward to full vindication soon.”
Benedictine College nuns call out Harrison Butker for sexist commencement speech 2024-05-18 16:08:09+00:00 - Harrison Butker’s commencement speech at Benedictine College in Kansas last weekend sparked a culture war firestorm. Now, the sisters of Mount St. Scholastica, a founding institution and sponsor of Benedictine College, have weighed in, denouncing Butker’s remarks as unrepresentative of the ideals of the Catholic liberal arts college. “Instead of promoting unity in our church, our nation, and the world, his comments seem to have fostered division,” they said in a statement released this week. From the get-go, Butker’s speech to the graduating class of 2024 was littered with homophobic, sexist and anti-abortion views. Among his most widely criticized comments was his remark to the young women among the graduates that they’d been fed “diabolical lies” about career aspirations when “one of the most important titles” for them is “homemaker.” (Butker’s mother, as many pointed out, is herself an accomplished physicist.) The Benedictine nuns called out his remarks about women in particular. “One of our concerns was the assertion that being a homemaker is the highest calling for a woman,” they said. “We sisters have dedicated our lives to God and God’s people, including the many women whom we have taught and influenced during the past 160 years. These women have made a tremendous difference in the world in their roles as wives and mothers and through their God-given gifts in leadership, scholarship, and their careers.” They also appeared to reference Butker’s tirade against Catholics who support abortion rights and “dangerous gender ideologies.” Butker referred to Pride Month as a “deadly sin sort of pride” and decried the “tyranny of diversity, equity and inclusion.” “Our community has taught young women and men not just how to be ‘homemaker’ in a limited sense, but rather how to make a Gospel-centered, compassionate home within themselves where they can welcome others as Christ, empowering them to be the best versions of themselves,” they added. “We reject a narrow definition of what it means to be Catholic.” Predictably, Butker’s stock has risen in some conservative circles. But he has also received huge backlash over his remarks: The NFL has tried to distance itself from his remarks, and GLAAD criticized his speech in a statement. He has even provoked the ire of Taylor Swift fans, who criticized him for referencing her song lyrics in a speech about regressive gender roles.
Yemen’s Houthi rebels launch a missile that strikes an oil tanker in the Red Sea, US military says 2024-05-18 16:04:49+00:00 - DUBAI, United Arab Emirates (AP) — Yemen’s Houthi rebels hit an oil tanker in the Red Sea with a ballistic missile early Saturday, damaging the Panama-flagged, Greek-owned vessel in their latest assault over the Israel-Hamas war in the Gaza Strip, officials said. Though the Houthis did not immediately claim the assault, it comes as they claimed to have shot down another U.S. military’s MQ-9 Reaper drone over Yemen and have launched other attacks on shipping, disrupting trade on a key maritime route leading to the Suez Canal and the Mediterranean Sea. The attack around 1 a.m. struck the oil tanker Wind, which recently docked in Russia and was bound for China, the U.S. military’s Central Command said. Both China and Russia maintain ties over military equipment and oil to Iran, the Houthis’ main benefactor. The missile strike “caused flooding which resulted in the of loss propulsion and steering,” Central Command said on the social platform X. “The crew of M/T Wind was able to restore propulsion and steering, and no casualties were reported. M/T Wind resumed its course under its own power.” The British military’s United Kingdom Maritime Trade Operations center and the private security firm Ambrey similarly acknowledged the attack earlier Saturday. Ambrey said it caused a fire aboard the Wind. It can take the Houthis hours — or even days — to claim their attacks. The Houthis have launched attacks on shipping in the Red Sea and Gulf of Aden, demanding Israel ends the war in Gaza, which has killed more than 35,000 Palestinians there. The war began after Hamas-led militants attacked Israel on Oct. 7, killing 1,200 people and taking some 250 others hostage. The Houthis have launched more than 50 attacks on shipping, seized one vessel and sunk another since November, according to the U.S. Maritime Administration. Houthi attacks have dropped in recent weeks as the rebels have been targeted by a U.S.-led airstrike campaign in Yemen. Shipping through the Red Sea and Gulf of Aden still remains low because of the threat, however. The Houthis claimed that they shot down the Reaper on Thursday with a surface-to-air missile. They described the drone as “carrying out hostile actions” in Yemen’s Marib province, which remains held by allies of Yemen’s exiled, internationally recognized government. Since the Houthis seized the country’s north and its capital, Sanaa, in 2014, the U.S. military has previously lost at least five drones to the rebels. Reapers, which cost around $30 million apiece, can fly at altitudes up to 50,000 feet and have an endurance of up to 24 hours before needing to land.
Liberty game today is on TV as WNBA rookie Caitlin Clark tries to shake rocky start 2024-05-18 15:44:15+00:00 - It’s been a slow start to her rookie campaign for the WNBA’s newest star Caitlin Clark, whose Indiana Fever have dropped their first two games of the season in front of record crowds. This isn’t cause for panic, or for questioning Clark’s ability to succeed in the pros. Rather, for Clark and for the bevy of new fans tuning in to the WNBA to watch the record-breaking former Iowa standout, this week should serve as a primer on the high level of play in the W compared to college. Clark struggled in her season opener against the Connecticut Sun, scoring 20 points and committing 10 turnovers. Clark struggled in her season opener against the Connecticut Sun, scoring 20 points and committing 10 turnovers. In the Fever’s next game, their home opener against the New York Liberty, Clark was held to just 9 points on 2-for-8 shooting — the first time since her freshman year at Iowa the star was held to single-digit scoring. On Saturday, she makes her highly anticipated New York City debut, which is being broadcast live on ABC. These early growing pains are unsurprising given the quality of competition Clark is facing in the W, particularly to start the season. The Sun and the Liberty boast two of the most stifling defenses in the league, with elite defenders like Connecticut’s DiJonai Carrington and New York’s Betnijah Laney-Hamilton tasked with stopping Clark. After a college career that saw scoring records, logo threes and dominance over NCAA Division I defenses, Clark has already drawn legions of new fans to the WNBA. She’s helped the Fever set ESPN viewership records through their first two games, while opposing teams are moving their matchups against Indiana to bigger arenas to accommodate the demand to see the young star. It’s unsurprising that these new fans might not have expected such a slow start by Clark, but those who have been around the league for years have cautioned for weeks to temper expectations for Clark’s rookie year. Fans watch Indiana Fever guard Caitlin Clark in Indianapolis on May 16. Michael Conroy / AP “Reality is coming. We all went through it,” Diana Taurasi said on “SportsCenter” last month. “That happens on the NBA side, and you’re going to see it on this side. You look superhuman playing against 18-year-olds, but you’re going to come with some grown women that have been playing professional basketball for a long time.” Those comments were often framed as Taurasi having “beef” with Clark, but it was just a statement of fact: The W consists of veteran players with years of experience, and with just 12 teams currently in the league, rosters are stacked enough that coaches can truly play to scouting reports. This early in her pro career, Clark is facing defenses that can exploit her known weaknesses (like her midrange game and her ballhandling) as she adjusts to the higher level of play. For her part, Clark appears entirely aware of what she’s facing in the pros. “The physicality is definitely up there. ... I’m easily pushed off screens,” she said after Thursday’s loss. “The game seems a little fast for me right now. The more I play and the more comfortable I get, it’s going to slow down a little bit. It will be easier for me to make reads, see things develop.” There were still some flashes of Clark’s college brilliance against the Liberty — she notched 6 assists, including a needle-threading pocket pass to Aliyah Boston, last year’s No. 1 draft pick and Rookie of the Year. You can expect to see more of that as the two establish their chemistry. The transition from college to the pros is often a rocky one in both the men’s and women’s game. The transition from college to the pros is often a rocky one in both the men’s and women’s game — Victor Wembanyama, the NBA’s No. 1 draft pick last year, struggled in his Summer League debut back in July, and then went on to win Rookie of the Year. The women face a different set of challenges, however, with such a short turnaround time from the end of the college season to the draft to the start of the WNBA season. The WNBA draft was a little more than a month ago, and Clark and her teammates have only had 12 practices together since. There is no equivalent WNBA summer league, and the Fever played just two preseason games. That also means the coaches have to experiment with plays and lineups in season. Clark was never going to burst into the WNBA and immediately turn her team into a contender. That’s an unrealistic expectation to place on any player, especially one who’s become the face of a new era of the W and women’s basketball fandom at the age of 22. The Fever are still in a transition process after seven straight seasons without a playoff appearance. And while Clark and Boston are key pieces in that process, no team rebuilds overnight. So no, Caitlin Clark was not overhyped; the rest of the league was underestimated. New fans tuning in to see Clark will get to see her game grow and evolve, while learning about veterans who’ve been doing this at a high level for years. Welcome to the WNBA.
Managing an Inheritance: When ‘Mom’s Money’ Becomes Yours 2024-05-18 13:00:06+00:00 - Michael Hay knew his mother was financially secure, but he didn’t fully know her situation until she was admitted to a hospital in August and he was granted her power of attorney. Even then, it wasn’t until his mother’s unexpected death, about a month later, that Mr. Hay understood that he and his two sisters were about to inherit a sum that would make a real difference in their lives. Nine months later, Mr. Hay, 47, says he’s still processing the shock of suddenly losing his 78-year-old mother while gaining an inheritance he wasn’t prepared to receive. “I still call it ‘my mom’s money’ even though it’s legally in my name,” said Mr. Hay, who works at a tech start-up and lives in Madison County, N.Y. Mr. Hay’s reaction to his sudden wealth is not unusual. “It is a big shock both emotionally and financially, and I don’t know that anyone is ever prepared,” said Kathryn Kubiak-Rizzone, founder of About Time Financial Planning in Rochester, N.Y. She recommends that beneficiaries not make any financial decisions for the first six months because they’re likely to still be grieving.
MarketBeat Week in Review – 5/13 - 5/17 2024-05-18 11:00:00+00:00 - Key Points Markets took a breather to end a week that saw the Dow cross the 40,000 mark for the first time. Nvidia's earnings next week will provide investors with an update on the pace and scale of AI demand. Here are some of our most popular articles from this week. 5 stocks we like better than Netflix Markets are mostly flat to end a week in which the Dow hit the 40,000 mark for the first time. Investors may be taking a breather to digest mixed news about inflation. The larger question is whether inflation matters to stock performance. The major exchanges are all up sharply in 2024 despite a strong likelihood that the Federal Reserve won't lower interest rates until after the election. Next week, the big story will come from Nvidia which will post its first quarter earnings. The report will give investors a progress report on the pace and scale of artificial intelligence (AI) demand. Get Netflix alerts: Sign Up The markets are entering a historically quieter time of year. As you settle into your summer plans, the MarketBeat team will keep you on top of the stocks and stories that are moving the markets. Here are some of the top stories from this week. Articles by Jea Yu It's a digital media world, but not every company is equally valued in that world. Jea Yu wrote this week that The Trade Desk Inc.'s NASDAQ: TTD earnings report shows that spending on digital advertising is on the rise for social media companies. The same can't be said for streaming companies. One reason for that discrepancy is that every streaming company is now chasing Netflix Inc. NASDAQ: NFLX. With that in mind, Yu explained how the newly formed alliance between Warner Bros. Discovery Inc. NASDAQ: WBD and The Walt Disney Co. NYSE: DIS is an attempt to give investors a bundled streaming option to help companies compete with Netflix. Defense stocks have been strong performers in 2024. One of the top names is Raytheon Technologies Corp. NYSE: RTX. The company's shares are at 52-week highs after the U.S. Congress passed the $61 billion aid package for Ukraine. Yu explains why continued strong demand will likely keep the vertically integrated company's stock moving higher. Articles by Thomas Hughes With stocks still having a "prisoner of the moment" feel, traders and investors are looking for any advantage they can get. This week, Thomas Hughes highlighted three stocks that have recently received analyst upgrades. This signals that these stocks enjoy institutional support and will likely move higher in the next 12 months. Penny stocks remain attractive to speculative investors looking for massive growth potential. As Hughes points out, investing in penny stocks doesn't have to relegate you to meme stocks. Hughes analyzes five penny stocks that posted double-digit gains based on strength in their underlying businesses. And this week's mixed earnings report from Home Depot NYSE: HD reminds investors to know why they own a stock. Home Depot's numbers don't suggest significant growth is coming in the next few quarters. But it also shouldn't discourage income investors who are counting on the company's dividend. Articles by Sam Quirke Could Nvidia Corporation NASDAQ: NVDA 1,000 be on the way? That's the opinion of some analysts. This week, Sam Quirke explains the analyst sentiment and gives you three reasons to believe that a four-digit stock price for NVDA may be closer than you think. Amazon.com Inc. NASDAQ: AMZN isn't going to be a $1,000 stock. But Quirke writes that Amazon explains why AMZN stock could rise by 30% after the company crushed its first quarter earnings report. Quirke also wrote that growth-hungry investors looking outside of technology stocks may want to buy the dip in Lululemon Athletica Inc. NASDAQ: LULU. Despite a solid earnings report in March, LULU stock is down over 34% in 2024. Quirke explains the fundamental and technical reasons why the stock may be setting up as a rare bargain. Articles by Chris Markoch Shares of GameStop Inc. NYSE: GME ripped higher this week as Roaring Kitty took to X again. But Chris Markoch explains why investors thinking about chasing GME stock higher should be aware that this rally is fueled by hype, not hope. Rocket Lab USA Inc. NASDAQ: RKLB is a small-cap aerospace company trying to make a name for itself in the emerging space economy. Markoch explains that the company's recent earnings report shouldn't discourage the bulls, but patience will be needed. The company isn't forecasting profitability until 2026. Until then, RKLB stock is likely to have a choppy path. Another small-cap company with a choppy path is Evolv Technologies Holdings Inc. NASDAQ: EVLV. The company is the target of a class-action lawsuit at a time when it's still trying to get to profitability. This is a reminder that unprofitable companies carry a high risk. However, the fundamentals still suggest that EVLV stock may be a worthwhile hold for long-term investors. Articles by Ryan Hasson One of the major stories this week was the resurgence of the meme stock movement. Is it 2021 all over again? That seems unlikely. However, Ryan Hasson highlights five meme stocks with high short interest. High short interest is one of the conditions that can make a stock ripe for a short squeeze. Many investors are investing in the growth of artificial intelligence. However, Hasson explains why this may be a good time to invest in robotic stocks and highlights five robotics stocks that are leading the growth in the sector. And in the better-late-than-never category, Hasson wrote about the recent surge in the utilities sector. Many investors believed this would happen in 2023, but the sector turned out to be a laggard. The recent breakout suggests that sentiment is changing, and Hasson gives you three stocks that stand out. Articles by Gabriel Osorio-Mazilli Another market-moving story this week is the Biden administration's announcement of tariffs on Chinese electric vehicles. Gabriel Osorio-Mazilli explains that this shouldn't impact your decision to buy Chinese stocks, but it may provide a lift for U.S. EV makers, specifically Tesla Inc. NASDAQ: TSLA. Sticking with Chinese stocks, Osorio-Mazilli writes about the recent sell-off in Alibaba Group NYSE: BABA. As he explains, this may be a case of Wall Street getting it wrong. And once investors know the whole story, they may not want to be so quick to give up on BABA stock or the Chinese economy. When it comes to stocks, affordability is often in the eyes of the investor. However, Osorio-Mazilli notes that there are times when investors shouldn't be too quick to ignore fundamental or technical trends. That's the case with the three affordable stocks selling at a double-digit discount to their peers, but perhaps unfairly so. Before you consider Netflix, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Netflix wasn't on the list. While Netflix currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here