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Billionaire Mark Cuban swears by this ‘powerful’ negotiation hack: It’s ‘money in the bank’ 2023-07-12 - Mark Cuban often sits quietly while his "Shark Tank" co-hosts are in a bidding war — and it isn't a coincidence. The billionaire investor learned how to use silence to his advantage, he said in a recent discussion with best-selling author Chris Voss on Fireside, the streaming audio app Cuban co-founded. Instead of being first to grill the entrepreneurs, Cuban prefers to "just be quiet and listen," he added. It's a negotiating tactic — one that allows him to gather necessary information and gives him time to size up his competition. "[Silence] gives you a chance to learn. There will be times when someone walks in on 'Shark Tank' and I'm thinking to myself: 'There's no way I'm interested. Or, if I am, I don't have quite all the data that I need to make a decision,'" he said. "When I listen to the other sharks, they're going to tell me if I have any competition financially to do a deal. They're going to teach me things, potentially, about that industry… about the person." Cuban mentioned his fellow shark, real estate mogul Barbara Corcoran, as someone he often learns from on the show, simply by listening. "Barbara Corcoran, who sits next to me very often… her people skills dwarf mine," he added. "She is so good at sizing up people and understanding who they are... I want to get a sense of what her perspective is. And just getting that input makes me smarter." The Cost Plus Drugs founder might also get a kick out of others' reactions to his quietness, as he notes how they "always freak out." "People freak out with silence," he said. "So when the entrepreneurs are there and I'm not saying anything, what happens is, they all start looking to me because they've heard from everyone else and they haven't heard from me." "[They ask] 'Mark, you got anything for me?,' … I'm just waiting or I'm just listening. Because it gets all the other sharks wondering what I'm doing," Cuban continued. "They know I'm not afraid to pull the trigger on a deal. And it gets the entrepreneur wondering what I'm doing because he wants to know if I'm going to bid or if I'll pay more or what else I may be able to add." Cuban's negotiation trick is actually backed by science — a few moments of silence in a negotiation can give both parties time to reflect and result in better outcomes all around, according to a 2021 study by the MIT Sloan School of Management. However, the hack only works if you practice active listening and observing, Cuban said. "The more you pay attention and the more aware you are, the better opportunity you have to get what you want," he said. "Silence is powerful," he added. "Silence is money … money in the bank." Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist. DON'T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter! Get CNBC's free Warren Buffett Guide to Investing, which distills the billionaire's No. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.

Here's a rapid-fire update on all 35 stocks in our portfolio — including 2 rating changes 2023-07-12 - Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Jim ran through each name during our July Monthly Meeting on Wednesday. Apple (AAPL): It's not a bad time to buy the original "own it, don't trade it" stock. The App Store, a key driver of Apple's high-margin services revenue, is in good shape, and iPhone sales appear to be stable. Meanwhile, the Vision Pro headset is a spectacular piece of technology, but for now its steep price tag will limit adoption. Advanced Micro Devices (AMD): With second-quarter earnings set for Aug. 1, Jim said he's hesitant to recommend adding to AMD now. The last time AMD reported, in early May , weak guidance sent the chipmaker's stock tumbling, though it recovered not long after amid excitement around artificial intelligence. Amazon (AMZN): Investors who want to enlarge their Amazon position could buy some shares now, then buy more after the technology titan's quarterly release on July 27. This strategy makes sense, Jim said, because growth at cloud unit Amazon Web Services could reaccelerate sooner than expected, pushing the stock higher. Bausch Health (BHC): There are way too many unanswered near-term questions to buy troubled Bausch Health. But the pharmaceutical firm's ability to secure a $600 million loan from private-equity giant KKR is an encouraging sign, even as Xifaxan patent litigation remains a key overhang. Caterpillar (CAT): We trimmed some CAT on Monday following a fantastic run for the industrial giant. Caterpillar remains a core position and should continue to be bolstered by U.S. infrastructure spending. If the bears sour on the stock again and push down its price, we'll look to buy back some of the 30 shares we just sold. Costco Wholesale (COST): While Costco has been a steady performer this year, we're mindful that a pullback could be on the horizon, if the wholesale retailer were to report disappointing monthly sales, for example. That would be an opportunity to buy. Salesforce (CRM): The enterprise-software provider just announced its first increase to prices in seven years , sending its stock up nearly 4% Tuesday. At this point, with the market in overbought territory, Jim said investors should be patient and see if CRM shares give back any of those gains. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. The potential for natural-gas prices to rise as the colder winter months approach is a factor that could potentially bolster Coterra stock. Investors who don't already own any shares of the oil-and-gas firm could consider starting a position here, Jim said. Danaher (DHR): The usually reliable Danaher has disappointed of late, but the worst may be behind the life-sciences company, which cut full-year guidance in late April . We're not throwing in the towel. One good sign is that the market for initial public offerings is thawing and enabling biotech startups — important Danaher customers — to raise capital. The company's next earnings report, set to be released on July 25, should help us determine our next steps. Walt Disney (DIS): Disney's stock may remain stuck in the mud if upcoming quarterly results are weak, and Jim suspects that could be the case even if some green shoots emerge. This is a real tug-of-war situation as CEO Bob Iger tries to control costs and turn digital streaming into a money-making endeavor, while confronting the persistent decline in linear TV and ESPN. That said, we're encouraged by The Wall Street Journal's report that Disney is exploring strategic options for its India business . Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. It's unlikely that inventory challenges in the cosmetic firm's travel business — a big problem in its fiscal 2023 third quarter — are fully resolved, so we expect additional weakness in the fourth quarter. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. Emerson Electric (EMR): Emerson's acquisition of National Instruments appears to now be benefiting the stock. Over the past month, EMR is up about 10%, making it one of our better-performing stocks in that stretch. Still, it trades at a discount to rivals like Rockwell Automation (ROK). Jim said Emerson is a buy despite itself. Ford Motor (F): We're bullish on Ford's fundamental business and believe management's adjusted free-cash-flow target of $6 billion for 2023 is achievable. At the same time, a collective bargaining battle with the United Auto Workers union kicks off Wednesday , and it could become contentious. Jim said investors could buy some Ford stock now, then wait for more information on the union talks before taking further action. Foot Locker (FL): CEO Mary Dillon's turnaround strategy may require more time to pay off than initially expected, and additional obstacles could be encountered, including a dividend cut, Jim acknowledged. But we're betting Dillon's efforts eventually show up in Foot Locker's financials, as was the case with her impressive stint at Ulta Beauty (ULTA). GE Healthcare (GEHC): The company makes imaging agents and devices, such as an MRI machine, that Alzheimer's patients will need to take Biogen 's (BIIB) new drug for the memory-robbing disease. Club stock Eli Lilly has a similar one in development, too . Right now, the drugs aren't leading to a spike in demand for GEHC, but commercial success down the road could change that. Jim said investors who don't any own GEHC could buy some here. Alphabet (GOOGL): We're in a wait-and-see mode. While the stock is off 6% from its 2023 highs, it is still up 12% over the past three months. Jim said he has no desire to buy, or sell, any shares until we see what happens next with various regulatory matters , and whether cost-cutting measures lead to improved earnings power. Halliburton (HAL): The oil-services firm is the other stock we're downgrading to a 2. We've debated trimming some Halliburton after the hot-and-cold stock broke above our cost basis of $36.53 per share. At this point, though, we're going to wait to see if a pullback offers a better entry point, or if it continues its recent run higher and profits can be locked in at a better level. Honeywell International (HON): Newly installed CEO Vimal Kapur made a smart, but underappreciated, acquisition earlier this week. Honeywell bought Israel-based cybersecurity firm Scadafence , which helps defend large-scale manufacturing facilities. Nevertheless, we chose to book profits in HON on Wednesday , boosting our cash position to roughly 10% with the market overbought. Humana (HUM): It's best to wait before buying more Humana, which is facing multiple overhangs like elevated medical costs and worries around tougher government regulation. The next six months or so may not be kind to Humana. Johnson & Johnson (JNJ): Jim said he's fearful that jurors will rule against J & J in a California trial involving a 24-year-old who claims his mesothelioma was caused by childhood exposure to asbestos in the company's talc-based baby powder. However, Jim said if this trial goes in J & J's favor, that could help its efforts to win approval for a proposed $8.9 billion settlement for thousands of talc cases in bankruptcy proceedings. Linde (LIN): The industrial gas supplier has been another steady performer, setting a series of all-time highs throughout the year. The most recent one came on June 30, at roughly $381 per share, about $9 higher than where it was trading Wednesday. Investors should wait for a more substantial decline to buy LIN. Eli Lilly (LLY): Some negative headlines involving Lilly's diabetes-and-obesity drug rival, Novo Nordisk (NOVO), have also weighed on the Club holding. However, Jim said he remains confident that Lilly's Mounjaro will go on to be the best-selling drug of all time. He said panic that pushes down LLY works in long-term investors' favor. Meta Platforms (META): Meta has climbed more than 40% over the past three months, pushing its year-to-date gains north of 150%. This strength makes it tough to recommend buying ahead of second-quarter earnings, set for July 26. But, in any case, Meta's progress on its Reels video offering should help the company deliver quality results. Morgan Stanley (MS): The IPO comeback, while still in the early innings, would be great news for Morgan Stanley's suffering investment banking division. Then consider the stock's roughly 3.6% dividend yield and a solid share purchase program, and we feel okay holding onto this bank stock. Microsoft (MSFT): After gaining about 40% so far in 2023 on AI optimism, Microsoft could be due for a pullback. Jim said a decline of roughly 10% would make him comfortable recommending MSFT. Separately, Microsoft's purchase of Activision Blizzard (ATVI) may survive regulatory opposition , after all. Nvidia (NVDA): Similar to Microsoft, Jim said he'd like to see Nvidia shares fall by around 10% before recommending investors buy the dip. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings. Palo Alto Networks (PANW): With shares tumbling more than 6% Wednesday, cybersecurity leader Palo Alto is a buy. The stock is falling after Microsoft announced two new cybersecurity products . However, the magnitude of the selling strikes us as an overreaction. Pioneer Natural Resources (PXD): Pioneer's low oil breakevens enable the company to generate free cash flow even with softer crude prices. While the stock has rise more than 4% so far in July, investors would still be justified in buying some shares at current levels, around $216 each. But, Jim advised, save some dry powder in case the stock trades back around $200. Procter & Gamble (PG): We lightened up on P & G on July 5 , at around $152 per share. Our decision to trim was motivated by the stock's solid move higher, given fears over an impending U.S. recession seem to be losing steam. Starbucks (SBUX): The coffee chain has become a bit of a quandary. Its China story has been complicated by a slower-than-expected rebound in the world's No. 2 economy. And we'd like to see Laxman Narasimhan, who became CEO on March 20, adopt a more public-facing approach to better understand his vision. Constellation Brands (STZ): Shares of the maker of Corona beer have rallied amid the Bud Light controversy — up more than 11% over the past three months — and we don't want to let those gains slip away. So, we're ready to do some selling. Stanley Black & Decker (SWK): The toolmaker's stock has jumped more than 14% over the past month, to trade at nearly $97 per share Wednesday. We'd like to see the stock fall back into the low $90s before adding to our small position, which we initiated about a month ago . TJX Companies (TJX): TJX set a fresh 52-week high Wednesday, following an upgrade from Loop Capital , which now rates the off-price retailer a buy, up from hold. The firm boosted its price target to $95, from $75. Jim said he agrees with the call, and believes Loop's price target is achievable. Even if the U.S. avoids a recession, Jim said TJX's bargain-oriented ethos and quality merchandise should continue to appeal to consumers. Wells Fargo (WFC): The bank, which is set to report second-quarter earnings Friday , is operating in a tough industry environment, which may lead to muted upside for the stock in the near term. But the turnaround story is intact, making Wells Fargo the best of the banks to own right now. Wynn Resorts (WYNN): We've been waiting for Wynn shares to fall below $100 apiece for a few weeks, because we don't want to break our cost basis — even though we believe its operations in Las Vegas, Boston and the Chinese special administrative region of Macao are doing well. But the opportunity to augment our position in the casino giant hasn't presented itself yet. (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. CNBC Investing Club with Jim Cramer Rob Kim | NBCUniversal

Scottsdale, Arizona is the No. 1 city for renters based on quality of life—see the full list 2023-07-12 - WalletHub compared key quality-of-life measures in more than 180 rental markets across the United States. To rank the best states for renters based on quality of life, the report considered the following factors: Whether you're buying a home or renting, one major factor to consider in your search for the right state, city or neighborhood you move to is the quality of life you will have when you get there. Scottsdale, Arizona, topped the list of the best places for renters based on quality of life. The median rent in the city is $2,995, according to Zillow, which is $895 more than the national average of $2,100 Scottsdale, Arizona, is in the beautiful Sonoran Desert at the foot of the scenic McDowell Mountains. The city's slogan is "The West's Most Western Town" because it is home to more than 100 annual horse events and has held the title for over 60 years. Over the past two decades, it has been one of the fastest-growing cities in the U.S. and according to Henley and Partner's 2023 wealth report, it is also one of the fastest-growing cities for millionaires. From 2012 to 2022, Scottsdale saw an 88% millionaire growth rate and is home to 13,900 millionaires, 60 centi-millionaires, and five billionaires.

Amazon's Prime Day off to a strong start, early data shows 2023-07-12 - Amazon 's Prime Day is off to a strong start, lifting third-party sellers' and other retailers' online sales, early data shows. On Tuesday, the first day of Amazon's 48-hour sales event, online spending in the U.S. rose about 6% to $6.4 billion, making it the single-biggest e-commerce day so far this year, according to Adobe Analytics, which measures transactions at U.S. retail sites. Prime Day kicked off Tuesday and runs through Wednesday. Amazon launched the event in 2015 as a way to hook new Prime subscribers and deepen existing members' loyalty to the program, as well as promote its own products and services. Other large retailers including Walmart , Target , Kohl's and Best Buy have been running discounts to compete. Adobe expects total U.S. online sales to grow 9.5% year over year to $13.1 billion during the two-day event. Last year, U.S. consumers spent more than $11.9 billion. As of midday Wednesday, Prime Day shoppers spent more per order, with an average order size of $56.07, compared with $53.14 a year ago, according to data from Numerator. Both Adobe and Numerator said consumers are snapping up home goods and appliances, household essentials, toys and apparel. Fire TV sticks and Apple Watches were also top-selling items. Analysts and investors will keep a close eye on the event to see whether economic uncertainty puts pressure on consumer spending. U.S. inflation cooled in June, rising 3% year over year, its lowest rate in more than two years. Excluding food and energy, core inflation rose 4.8% on an annual basis. "In the midst of a slower consumer spending environment, we believe Amazon's Prime Day 2023 created a spark of spending across retail," Telsey Advisory Group analysts wrote in a note to clients Wednesday. The firm maintains an outperform rating on Amazon's stock. "The company seems to have successfully leveraged its relationship with brands — which have seen softer trends due to a tough environment — to offer good deals and attract shoppers." Fahim Naim, a former Amazon employee who now runs the e-commerce consulting firm eShopportunity, said several of his clients are seeing Prime Day promotions pay off more than last year. Protein powder maker Ascent Protein and BOX Partners, which owns shipping packaging brands Aviditi and BOX USA, have seen their sales rise nearly 40% year over year during Prime Day so far, Naim said. Another client, Harmless Harvest, known for its coconut drinks and smoothies, has seen its sales double. The strong preliminary Prime Day sales data is the latest indicator that consumer spending may be more resilient than feared. Roughly 28% of consumers said their spending increased in the second quarter, compared with 23% in the first quarter, according to Jungle Scout, which provides software and research to Amazon sellers. "You have a good portion of the market that's saying that they're cutting back, but you also have people that have a lot of pent-up demand post-Covid," said Mike Scheschuk, president of small and medium business at Jungle Scout, in an interview. "So they're saying, 'You know what, I've got enough money and I'm back and I'm stable, so I'm ready to start spending again.'" Scheschuk, who also sells pet products on Amazon under his own brand, said his sales have jumped 25% year over year since Prime Day kicked off. Week over week, they're up 50%, he added. Amazon doesn't typically provide sales data from Prime Day. But third parties including Adobe and Salesforce are expected to announce total online sales from the event Thursday.

Communist Party cells influencing U.S. companies' China operations, FBI Director Wray says 2023-07-12 - FBI Director Christopher Wray testifies before the House Judiciary Committee during a hearing on "Oversight of the Federal Bureau of Investigation," on Capitol Hill in Washington, DC, on July 12, 2023. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images) China is requiring U.S. and other foreign-owned companies to host groups that monitor their compliance with Chinese Communist Party orthodoxy, FBI Director Christopher Wray said in congressional testimony Wednesday. It's one way in which the Chinese government has "exploited" joint business ventures in order to obtain companies' secrets and information, Wray told the House Judiciary Committee. "There is no country, none, that presents a broader, more comprehensive threat to our ideas our innovation our economic security than the Chinese government and the Chinese Communist Party," Wray testified. "In many ways, it represents, I think, the defining threat of our era," he said. Wray's blunt criticism against China's alleged government intrusion into foreign business, in a venue where his language has otherwise been highly guarded, underscores the high tension between Beijing and Washington. His remarks also come on the heels of high-stakes visits to China by Secretary of State Antony Blinken and Treasury Secretary Janet Yellen. Wray on Wednesday had been asked by Rep. Lance Gooden, R-Texas, about whether China is "in essence nationalizing American enterprises" by forcing companies doing business in the country to allow the CCP to operate internal "political cells." "The CEOs I've talked to are afraid to say something, they say they've come to the FBI," Gooden said. Wray called it "a very important issue" that deserves more attention. "While there's no law against joint ventures, The problem that we have is that the Chinese government all too often has exploited those joint ventures to then use them as ways to get improper access to companies secrets, and information," the FBI director said. Wray said that Americans "would be shocked to hear" that virtually all companies doing business in China are required to allow those cells. "If we try to install something like that in American companies, or if the British tried to do it in British companies or any number of other places, people would go out of their minds, and rightly so," he said. Wray did not name specific companies who have been required to house CCP cells in China. He also did not directly respond to Gooden's concern that Beijing had ramped up its use of those cells. The U.S. Chamber of Commerce and the CEO advocacy group Business Roundtable, whose members include the leaders of major companies such as Apple and Nike, did not immediately respond to CNBC's requests for comment on Wray's remarks. Commercial risk intelligence platform Sayari warned in a 2021 report that private companies in China face growing pressure to give the so-called CCP cells more influence. Those companies have been required since 2018 to establish CCP cells in order to be listed on domestic stock exchanges, according to Sayari. The cells, in turn, have pushed to strengthen their role in corporate governance, the company said. The Wall Street Journal reported last year that Chinese regulators had changed their rules for securities investments funds, including requiring foreign-owned firms such as BlackRock and Fidelity to create communist cells within their Chinese business operations. The Financial Times previously reported that HSBC had installed a CCP committee in its banking business in China, making it the first foreign lender to do so. It's not the first time Wray has raised concerns about Beijing's alleged efforts to enforce communist political views within foreign companies operating in China. "It's even to the point where, under Chinese law, Chinese companies of any size are required to host inside the company," Wray said in an interview with CNBC. "They call it a committee, but it's essentially a cell whose sole responsibility is to ensure that company's adherence to the Chinese Communist Party's orthodoxy." "And it doesn't just apply to Chinese companies; it applies to foreign companies if they get to a certain size in China, as well," Wray told CNBC. Those companies "have to comply," he added. "They have to cooperate." The exchange with Gooden came as a respite to the mostly hostile questions Wray received from committee's Republican majority. The Biden administration official fielded heated questions and frequent interruptions from Republicans largely centered on the agency's perceived political bias against conservatives. — CNBC's Christina Wilkie contributed to this report.

MyPillow is auctioning equipment after a sales slump. Mike Lindell blames "cancel culture." 2023-07-12 - MyPillow, the pillow and bedding company started by CEO Mike Lindell, is auctioning off more than 700 pieces of company equipment, ranging from forklifts to office desks and cubicles. Lindell, a vocal supporter of former President Donald Trump, told the Minneapolis Star Tribune that the auction comes after MyPillow lost $100 million in revenue due to big retailers halting sales of the company's products. He blamed the move by customers to pull back on "cancel culture." Lindell criticized retailers including Walmart for halting sales of its products. Walmart's online site doesn't show listings for MyPillow products, and the retailing giant last year said it had stopped selling the items in its brick-and-mortar locations. "It was a massive, massive cancellation," Lindell told the Star Tribune. "We lost $100 million from attacks by the box stores, the shopping networks, the shopping channels, all of them did cancel culture on us." Lindell said the company is now consolidating its operations. He didn't respond to a request for comment from CBS MoneyWatch. Other retailers had also suspended sales of MyPillow products, with Lindell in 2021 noting that Bed Bath & Beyond, Kohl's, H-E-B and Wayfair had dropped his products. That followed the January 6, 2021, attack on the U.S. Capitol, when Trump supporters violently broke into the Capitol Building. Many of the rioters championed conspiracy theories that the presidential election was stolen, although none of those claims hold up under scrutiny. But Lindell has continued to peddle such election theories, telling CBS MoneyWatch earlier this year that President Joe Biden "didn't win the election, that's a fact." On the hook for $5 million Those debunked theories have caused problems for Lindell in other ways. He had offered to pay $5 million to anyone who could prove a store of computer data he had acquired wasn't, in fact, 2020 election data. But after a computer expert quickly proved the data was bogus, Lindell refused to pay, leading to an arbitration panel ordering him to pay up the $5 million. Lindell also faces a $1.3 billion lawsuit filed by Dominion Voting Systems, which alleges that the MyPillow chief falsely accused the company of rigging the 2020 presidential election. In the meantime, those in need of cheap office equipment can peruse the auction site, with the Shakopee, Minnesota-based auctioneer slated to start closing the bidding on July 18. Some of the items include several L-shaped desks, with current bids set at $5, as well as bulletin boards, stacking chairs, office chairs as well as heavy-duty equipment such as pallet wrappers and industrial sewing machines.

Travelers can save money on flights by "skiplagging," but there are risks. Here's what to know. 2023-07-12 - Seasoned travelers who know how to get the biggest bang for their air mileage sometimes use a hack known has "hidden city ticketing" to save money on airfare. Also called "skiplagging," the practice involves buying multi-stop airline tickets with layovers in a desired destination, then ditching the second flight. Savvy fliers look for these kinds of tickets because they're often cheaper than flying direct. It's effectively a way of skirting how tickets are typically priced, with carriers charging more for direct flights than trips with layovers. "Airlines don't want to sell a $200 ticket to a passenger that would be willing to pay $2,000. They don't like 'skiplagging' because they feel it's a way for travelers to get around the rules and policies they put in place," Scott Keyes, founder of flight deals website Going, told CBS MoneyWatch. Major airlines with facilities across the U.S. rely on what's called a hub-and-spoke model to run operations efficiently. It can be more cost-effective for carriers to fly passengers out of their way on less-trafficked routes like, for example, Orlando, Florida, to Richmond, Virginia. The bottom line is that airlines would rather shuttle passengers from a few different locales to New York City and then send them all to Richmond on a full flight, as opposed to operating several half-empty planes, which would lose money. A flight from New York City to Orlando costs roughly $121. But fly from Orlando to Richmond, with a connection in New York City, and you pay only $88. "The reason why you sometimes see those price differences is pretty simple," Keyes said. "People will pay more money for a nonstop flight. I'll certainly pay a premium if my flight is nonstop versus having a connection, so airlines want to take advantage of that. They charge more for travelers looking for that one-stop flight." Is skiplagging legal? It is legal for consumers to book hidden city tickets and ditch the second half of the trip. But it violates most airlines' policies. For example, American Airlines explicitly prohibits passengers from purchasing tickets "without intending to fly all flights to gain lower fares." And when passengers engage in prohibited booking practices, the airline reserves the right to cancel any unused part of the ticket. It can also charge passengers what a ticket would've cost if they hadn't violated the airline's policy, refuse to let the traveler fly and otherwise make your life miserable. American Airlines recently put that policy into practice when a teen accidentally revealed to airline agents that he was planning to skiplag, according to a report in Queen City News, a media outlet that covers the Carolinas. Logan Parsons' parents booked him a hidden city ticket using Skiplagged, a website that helps consumers search for these types of fares. An American Airlines spokesperson confirmed that Parsons was questioned about his travel arrangements while checking in for his flight. "The ticket was canceled after the customer acknowledged the violation of our conditions of carriage," the spokesperson said, adding that a customer relations agent has reached out Parsons. Parson's was forced to rebook his flight from Gainesville, Florida, to Charlotte, North Carolina. He had hoped fly on a ticket from Florida to New York City, with a layover in Charlotte, according to Queen City News. Skiplagged did not immediately reply to a request for comment. What to know While skiplagging can save travelers money, unless they're experienced — and bold — it may not be worth the trouble, according to Keyes. Downsides include: You can't check a bag The airline can reroute your flight through a different city Your ticket could be cancelled It only works on one-way flights To be sure, it's hard for airlines to catch passengers who do this on occasion, but it can raise red flags if a person repeatedly engages in skiplagging. "Airlines typically know if they're doing it regularly, eight, 10, 12 times a year. They can pull up a passenger's history and say, 'Oh well they keep missing a flight almost every time they fly with us,'" Keyes said. Keyes doesn't recommend it for inexperienced fliers. "It's more of an intermediate traveler type of thing to do sparingly if you feel comfortable."

Craft beer pioneer Anchor Brewing to close after 127 years 2023-07-12 - Historic Anchor Brewing Company in San Francisco shutters operations ahead of bankruptcy Historic Anchor Brewing Company in San Francisco shutters operations ahead of bankruptcy 02:06 Anchor Brewing Co. is set to pour its last cold one. The 127-year-old San Francisco brewery, which traces its roots to the California Gold Rush, said it will shut down after years of declining sales. Anchor was trailblazer in the U.S., brewing craft beers in the 1970s when most Americans were loyal to a handful of major brands. Its unique brewing techniques ignited demand beyond the city borders of San Francisco and it quickly became a sought-after prize by beer geeks everywhere. In recent years, however, brewers have faced increasing difficulty turning a profit with a proliferation of canned cocktails, crafted drinks, spirits and wines dinging beer sales. Lockdowns during the COVID-19 pandemic pressured brewers further. Last year, overall beer sales volume slid 3.1% in the U.S., according to the Brewers Association. Craft brewer sales volume ticked 0.1% higher during the period, but imports are rising. "We recognize the importance and historic significance of Anchor to San Francisco and to the craft brewing industry, but the impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no option but to make this sad decision to cease operations," said brewery spokesperson Sam Singer in a written statement Wednesday. "Everyone knows Anchor Steam" Based in the Potrero Hill neighborhood, Anchor Brewing describes itself as the nation's first craft brewery. It was acquired by Sapporo USA in 2017. "Even before I lived in California, everyone knows Anchor Steam, so it's sort of an American institution and it seems like a shame if that goes away," Kris Leifur, a regular patron at Anchor Public Taps on De Haro Street, told CBS News Bay Area. Anchor Brewing had teetered near insolvency before and in the 1960s it was acquired by a Stanford University grad, Fritz Maytag. Maytag implemented new brewing practices such as dry hopping, and began bottling the beer in 1971, according to the brewer. By the mid 1970s Anchor Brewing had assembled a solid portfolio of respected brews including Anchor Porter, Liberty Ale, Old Foghorn Barleywine Ale, and its first annual Christmas Ale, which became a holiday tradition in locales far from San Francisco. A brewer cleans brewing equipment at historic beer manufacturer Anchor Brewing Co., which is set to close after 127 years in business, in San Francisco, Calif. Yalonda M. James/San Francisco Chronicle via Getty Images Jeff Alworth, author of The Beer Bible, said in a blog post Wednesday that Maytag "sparked a revival in small-scale brewing" that would transform the industry and give the emerging craft brewing industry its ethos and attitude. "He had this approach to beer, which was, 'We're going to use traditional ingredients and we're going to use traditional methods and we're going to be defiant as we do it and we're going to be hyper-local,'" Alworth said. "It served as a blueprint." Anchor said that it made repeated efforts over the past year to find buyers for the brewery and its brands, but that it was unable to find one. The company said that it is still possible that a buyer will come forward as part of the liquidation process. Anchor recently announced that it would limit sales of its beers to California and that it would cut production of its Anchor Christmas Ale in an effort to cut costs. The company has stopped brewing and will continue packaging and distributing the beer on hand while available through around the end of the month. "The fact that they're not going to make these beers anymore is just insane to me, if that happens, I will be devastated," Leifer told CBS News Bay Area. "Going to need to build a vault and start stockpiling." after i heard they were ceasing all operations this morning, rode my bike by anchor brewing on the way to work. the flag is flying upside down. dark, dark day for san francisco beer drinkers. pic.twitter.com/0UL5xyAWHT — Grant Marek (@Grant_Marek) July 12, 2023 The brewer is giving employees a 60-day notice and plans to provide transition support and separation packages. "Anchor has invested great passion and significant resources into the company," Singer said. "Unfortunately, today's economic pressures have made the business no longer sustainable, and we had to make the heartbreaking decision to cease operations." Anchor Public Taps will remain open to sell what inventory remains, including a small batch of 2023 Anchor Christmas Ale. The batch was brewed prior to the company's decision to cancel the nationwide release.

Chipotle testing a robot, dubbed "Autocado," that makes guacamole 2023-07-12 - Chipotle Mexican Grill's new robot can make guacamole in half the time human workers need to prepare the dish, the restaurant chain said in unveiling the device on Wednesday. The so-called Autocado is designed to handle the labor-intensive task of preparing the avocados, slicing, coring and peeling 25 pounds of the fruit at once. By comparison, it takes employees about 50 minutes to prepare a batch of guac, according to Chipotle. Human workers will continue to apply the finishing touches, such as adding other ingredients and mixing them together, the company said. Chipotle is using the Autocado at its test kitchen in California. The company didn't say if the machine would eventually be introduced in its roughly 3,200 locations worldwide. "The intensive labor of cutting, coring and scooping avocados could be relieved with Autocado, but we still maintain the essential culinary experience of hand mashing and hand preparing the guacamole to our exacting standards," Curt Garner, Chipotle's chief customer and technology officer, said in a statement. A Chipotle Mexican Grill worker removes avocados from a robot, dubbed Autocado, that the restaurant chain said will cut down on the amount of time required to make guacamole. Chipotle Mexican Grill Autocado, created by robotics and automation firm Vebu Labs of California with collaboration from Chipotle, stacks a group of avocados vertically then removes their skin and core. The remaining flesh is dropped into a stainless steel bowl that a Chipotle worker takes and uses as the base for a batch of guacamole. Vebu CEO Buck Jordan said in a statement that its technology can help create Chipotle's guacamole "more efficiently than ever before." Vebu also said it wants to improve Autocado by using artificial intelligence to teach the machine to evaluate the ripeness of avocados. Chipotle is also testing the use of robotics for making its tortilla chips. The robotic kitchen assistant called Chippy debuted last year at a location in California. Other restaurants are also increasingly turning to robotics and AI and robotics to cut down on routine tasks. Restaurant chain Sweetgreen opened a kitchen in the Chicago suburb of Naperville earlier this year that uses AI to make salads. The location is still staffed by humans, who put the finishing touches on the order. CKE Restaurants, which owns Carl's Jr. and Hardee's, said in May that it's using AI called Tori at the drive-thru to take orders, while McDonald's is using similar technology at some of its drive-thrus. Chipotle's stock price was flat Wednesday afternoon, trading at $2,070 a share.

Here's what the latest inflation report means for your money 2023-07-12 - Inflation is rapidly cooling from its hottest pace in 40 years, providing some relief to Americans whose wallets have been strained by price increases in everything from groceries to housing. The Consumer Price Index grew at an annual rate of 3% in June — the smallest increase since March 2021, the Labor Department said on Wednesday. While that's good news for consumers as they grapple with their daily expenses, the latest inflation figures are more than a reflection of the price pressures facing U.S. households. The data also influences key financial decisions by policymakers that may impact millions of consumers' budgets later this year, ranging from home buyers to senior citizens. The Federal Reserve looks at the CPI data when deciding whether to increase interest rates; it also considers a different inflation metric known as the Personal Consumption Expenditures Price Index, which tends to run lower than CPI. Although both indexes show inflation is cooling, it still remains higher than the Fed's target rate of 2% — especially so-called "core" inflation, which strips out volatile fuel and food prices. Core inflation rose 4.8% last month, more than double the Fed's target. June's inflation "is really only a small step in the right direction," noted Brian Coulton, chief economist at Fitch Ratings, in an email. "Core inflation remains just under 5% on both a year-on-year and three-month annualized basis, which is far too high." Here's what the latest data means for your money. How does inflation work? Inflation is the increase in prices of goods and services, with the Consumer Price Index measuring a basket of items that are typically purchased by U.S. households, ranging from groceries to cars. In the past two years, inflation suddenly jumped higher, reaching a 40-year high in 2022. But the reasons for the inflationary spike are debated among economists, with some blaming corporate price gouging and others pointing to more classic supply-and-demand issues. Many economists have pointed to strong pandemic demand sparked by stimulus checks, coming at a time when supply was constrained by supply-chain breakdowns, as the cause for the run-up in inflation. What does the June CPI mean for interest rates? Sure, inflation is coming down, but it may not be falling fast enough to satisfy the Federal Reserve. Some economists are forecasting that the central bank will boost interest rates by one-quarter of a percentage point at its meeting later this month, scheduled for July 25-26. If the Fed raises rates again in July, consumers could face even higher borrowing costs. Credit card APRs — already at a historic high — and mortgage rates could continue to rise if the Fed boosts rates in July because such debt tends to move in tandem with the underlying Federal Funds Rate. Even so, June's cooling inflation suggests that the Fed could ease up on interest rate hikes after July, some economists said. "It is enough on a standalone basis for the market to put in question the Fed's dot projections of two additional hikes left this year," noted Alexandra Wilson-Elizondo, deputy CIO of multi asset solutions at Goldman Sachs Asset Management, in an email. Does this impact Social Security benefits? Yes, because Social Security benefits are adjusted annually for inflation — and the Social Security Administration bases its cost-of-living adjustment (COLA) on inflation data from July, August and September. While CPI data for those three months isn't available yet, some forecasters are projecting their estimates for the 2024 COLA based on inflation trends so far this year. With prices cooling, some are projecting that the nation's seniors will see a much smaller boost next year. The COLA could be 3% next year, based on the June data, according to the Senior Citizens League, an advocacy group for older Americans. Another group, the think-tank Committee for a Responsible Federal Budget, said on Wednesday it estimates Social Security beneficiaries will receive a COLA of 2.6% to 3.3%, depending on where inflation falls in the next three months. Are any items still seeing big price increases? A few products and services are still seeing relatively high price increases, according to the June data. Housing, which includes rent and what homeowners pay for their properties, jumped 7.8% last month. Car insurance surged almost 17%, while restaurant prices jumped 7.7%, the Labor Department said on Wednesday. Housing inflation remains a major concern for consumers, and was the largest contributor to June's rise in prices. But economists expect that housing prices will begin to dip later in the year, helped by new construction. "Rents have been coming down in places where new rental construction has been coming online," noted Bright MLS chief economist Lisa Sturtevant. "More supply, even with steady or rising demand, lowers costs." Where are Americans getting price breaks? Prices are falling in several major spending categories, with energy costs representing the biggest drop. Gasoline is about 27% cheaper than a year earlier, labor data shows. Used car prices are also lower, with a 5.2% dip last month, while airline fares plunged almost 19%. On the grocery front, some items are paring their pandemic price gains, with eggs dropping almost 8%. That follows a surge in egg prices earlier this year that stunned some consumers and prompted some people to raise their own backyard chickens. Other grocery items with price cuts include pork, bacon and butter. The slowdown in inflation "will buy investors time and give them the opportunity to catch their breath," noted Wilson-Elizondo of Goldman Sachs.

Farmers Insurance pulls out of Florida, affecting 100,000 policies 2023-07-12 - Farmers Insurance said Tuesday that it will no longer offer coverage in Florida, ending home, auto and others policies in the state in a move that will affect tens of thousands of residents. Farmers becomes the fourth major insurer to pull out of Florida in the past year, as the state's insurance market looks increasingly precarious amid a growing threat from extreme weather. "We have advised the Florida Office of Insurance Regulation of our decision to discontinue offering Farmers-branded auto, home and umbrella policies in the state," Farmers spokesman Trevor Chapman said in a statement to CBS Miami. "This business decision was necessary to effectively manage risk exposure." Under Florida law, companies are required to give three months' notice to the Office of Insurance Regulation before they tell customers their policies won't be renewed. Samantha Bequer, a spokeswoman for the Office of Insurance Regulation, told CBS Miami that the agency received a notice Monday from Farmers about exiting Florida. The notice was listed as a "trade secret," so its details were not publicly available Tuesday. Farmers said the move will affect only company-branded policies, which make up about 30% its policies sold in the state. As a result, nearly 100,000 Florida customers would lose their insurance coverage, according to CBS Miami. Policies sold by subsidiaries Foremost and Bristol West will not be affected. Farmers has also limited new policies in California, which has seen record-breaking wildfires fueled by climate change. Allstate and State Farm have also stopped issuing new policies in the state. Insurance costs soar with the mercury The Florida exodus is the latest sign that climate change, exacerbated by the use of fossil fuels, is destabilizing the U.S. insurance market. Already, homeowners in the state pay about three times as much for insurance coverage as the national average, and rates this year are expected to soar about 40%. Multiple insurers in the state have gone out of business, faced with massive payouts for storms. Meanwhile, warmer air and water are making hurricanes stronger and more damaging. Florida Chief Financial Officer Jimmy Patronis, who oversees the insurance regulator, tweeted on Monday that if Farmers pulls out, "My office is going to explore every avenue possible for holding them accountable."

Inflation cooled in June to slowest pace in more than 2 years 2023-07-12 - Inflation dipped in June to its slowest pace in more than 2 years, indicating price increases are cooling amid the Federal Reserve's rate-hiking regime. The Consumer Price Index grew at an annual rate of 3%, the Labor Department said on Wednesday. Economists had expected a 3.1% increase, according to FactSet. The increase was the smallest since March 2021, the Labor Department noted. On a monthly basis, inflation rose 0.2%. Core inflation, which strips out volatile food and energy prices, rose 4.8% on an annual basis. Economists focus more on "core" inflation as it presents a truer gauge of price increases. Inflation has cooled since hitting its highest levels in four decades last year, partly in the face of higher interest rates engineered by the Federal Reserve, which have made it more expensive for consumers and businesses to borrow money. Yet prices — especially core inflation — are still rising at a pace that's higher than the Fed's target of 2%, and the central bank has indicated that additional interest rate increases could be in store. "Despite the positive inflation report, the Fed likely will resume its rate hikes when it meets later this month, remaining committed to raising interest rates until the magical 2% inflation target is met," noted Bright MLS chief economist Lisa Sturtevant in an email after the data was released. "The problem is that housing costs, which account for a large share of the inflation picture, are not coming down meaningfully." Housing costs were the largest contributor to June's rise in prices, the Labor Department said. Shelter costs rose 7.8% compared with a year earlier, outpacing the increases for food and new vehicles, which rose 5.7% and 4.1%, respectively. What's falling in price: Used cars, eggs Some economists have suggested, though, that if inflation keeps slowing and the economy shows sufficient signs of cooling, the July increase could be the Fed's last. Used-car prices, for example, have been falling, with costs dropping 5.2% in June. Automakers are finally producing more cars as supply shortages have abated. New-car prices, too, have begun to ease as a result. A sustained slowdown in inflation could bring meaningful relief to American households that have been squeezed by the price acceleration that began two years ago. Inflation spiked as consumers ramped up their spending on items like exercise bikes, standing desks and new patio furniture, fueled by three rounds of stimulus checks. The jump in consumer demand overwhelmed supply chains and ignited inflation. Many economists have suggested that President Joe Biden's stimulus package in March 2021 intensified the inflation surge. At the same time, though, inflation also jumped overseas, even in countries where much less stimulus was put in place. Russia's invasion of Ukraine also triggered a spike in energy and food prices globally. Now, though, gas prices have fallen back to about $3.50 a gallon on average, nationally, down from a $5 peak last year. And grocery prices are rising more slowly, with some categories reversing previous spikes. Egg prices, for instance, have declined to a national average of $2.67 a dozen, down from a peak of $4.82 at the start of this year, according to government data. Egg costs had soared after avian flu decimated the nation's chicken flocks. Despite the decline, they remain above the average pre-pandemic price of about $1.60. Milk and ground beef remain elevated but have eased from their peak prices. Still, the cost of services, like restaurant meals, car insurance, child care and dental services, continue to rise rapidly. Auto insurance, on average, now costs 17% more than it did a year ago. —With reporting by the Associated Press.

Iger to Remain as Head of Disney Through 2026 2023-07-12 - Robert A. Iger has extended his reign at Disney through 2026, as an heir continues to be difficult to find and questions mount about the viability of the company’s vaunted movie studios and theme parks. The Walt Disney Company said on Wednesday that Mr. Iger, 72, will remain chief executive for two years beyond his previously announced re-retirement date, the company’s board of directors said in a statement. Mr. Iger reluctantly ended his first run at Disney in 2021, handing the company’s top job to Bob Chapek, a former theme park executive. Mr. Chapek was fired in November, and Mr. Iger returned as chief executive. At the time, Disney said Mr. Iger had been asked to return “to set the strategic direction for renewed growth and to work closely with the board in developing a successor to lead the company at the completion of his term.” Mr. Iger repeatedly said that he would retire for good when his contract was up at the end of 2024. “My plan is to stay here for two years,” Mr. Iger told CNBC in November. “That was my agreement with the board, and that is my preference.”

Gerald C. Meyers, C.E.O. Who Paved Way for the S.U.V., Dies at 94 2023-07-12 - Gerald C. Meyers, a former chief executive of the American Motors Corporation who helped spark the nation’s obsession with sport utility vehicles and oversaw the development of some of the quirkiest cars of the 1970s, died on June 19 at his home in West Bloomfield, Mich. He was 94. His death was announced by his daughter Susan Meyers. Mr. Meyers joined American Motors in 1962, after stints with Ford and Chrysler, and rose through the ranks as AMC fought to survive in a market dominated by his former employers and General Motors, the so-called Big Three; at the time, they collectively produced nine out of every 10 cars sold in the United States. In 1970, as a senior manufacturing executive, Mr. Meyers was given the task of evaluating a possible acquisition of Kaiser Jeep. He advised AMC’s board against it, noting the brand’s serious production inefficiencies. But the board proceeded anyway — and put Mr. Meyers in charge. To appeal to more consumers, he upgraded existing Jeeps with better engines, suspensions and interiors, and directed the development of a new wagon, the Jeep Cherokee, which came out in the spring of 1974. Sales soon surged, steadying AMC’s shaky finances and driving consumer interest in roomy off-road vehicles.

Arizona Man Cited in Conspiracy Theories Sues Fox News for Defamation 2023-07-12 - The suit is the latest legal complication for Fox News, which has been fighting lawsuits on a number of fronts related to its coverage of the 2020 election and Mr. Trump’s false insistence that he was cheated of victory. They include a $2.7 billion suit from a second voting technology company, Smartmatic, and two separate claims by Fox Corporation shareholders. Another lawsuit from a former producer for Mr. Carlson, which Fox settled on June 30 for $12 million, alleged that he condoned and encouraged a toxic workplace. Mr. Epps is seeking an unspecified amount in damages. After the unfounded accusations about Mr. Epps were aired on Mr. Carlson’s show, they quickly spread to online communities of Trump supporters and to the political world as Republicans in Congress tried to link Mr. Epps to a fictitious conspiracy theory that he was involved in planning the Jan. 6 attack. They included Senator Ted Cruz of Texas and Representative Thomas Massie of Kentucky, both of whom made Mr. Epps — a two-time Trump voter — a focus of concern at public hearings. The publicity had damaging consequences for Mr. Epps and his wife, Robyn, who received numerous death threats and were forced to sell their five-acre ranch and wedding business in Arizona and move into a 350-square-foot mobile home parked at a remote trailer park in the mountains of Utah. Online retailers began selling T-shirts that said “Arrest Ray Epps.” Some people even recorded songs about him and posted them on YouTube, the complaint states, adding that he had been reduced “into a character in a cartoonish conspiracy theory.” Mr. Epps was in the Marine Corps but said under oath in his deposition before the Jan. 6 committee that he had otherwise never worked for law enforcement or spoken with anyone at various government agencies, including the F.B.I., the C.I.A. and the National Security Agency. Through his lawyer, Michael Teter, Mr. Epps demanded in March that Fox and Mr. Carlson retract its stories about him and his purported role in the Capitol riot and issue an on-air apology. Neither the network nor Mr. Carlson, whose prime-time show has since been canceled, responded.

Inflation Cools Sharply in June, Good News for Consumers and the Fed 2023-07-12 - Slower inflation is unquestionably good news, because it allows consumer paychecks to stretch further at the gas pump and in the grocery aisle. And if inflation can come down sustainably without a big increase in unemployment or a painful economic recession, it could allow workers to hang on to the major gains they have made over the past three years: progress toward better jobs and pay that has helped to chip away at income inequality. The White House, which has spent over a year on the defensive over rising prices, celebrated the fresh report, with President Biden calling the current economic moment “Bidenomics in action.” And stocks soared as investors bet that the Fed would be able to be less aggressive in its fight against inflation — even halting its interest rate increases after a final July move — in light of the new data. “This is very promising news,” said Laura Rosner-Warburton, senior economist and founding partner at MacroPolicy Perspectives. “The pieces of the puzzle are starting to come together. But it’s just one report, and the Fed has been burned by inflation before.” Fed officials are likely to avoid declaring victory just yet. Policymakers are still trying to assess whether the moderation is likely to be quick and complete. They do not want to allow price increases to linger at slightly elevated levels for too long, because if they do, consumers and businesses could adjust their behavior in ways that make more rapid inflation a permanent feature of the economy. That’s why officials have signaled in recent weeks that they are likely to raise interest rates at their meeting on July 25 and 26. Policymakers had also indicated that one or more additional rate moves could be warranted after that.

Biden Touts Easing Inflation as ‘Bidenomics in Action’ 2023-07-12 - “Today’s report brings new and encouraging evidence that inflation is falling while our economy remains strong,” Mr. Biden said in the statement. “Our progress creating jobs while lowering costs for families is no accident, and I will continue to fight for lower costs for families every day.” In a speech at the Economic Club of New York on Wednesday, Lael Brainard, the director of the National Economic Council, said that the United States economy was outperforming other advanced nations. She said that inflation in the U.S. was now the lowest among the Group of 7 countries while its recovery from the pandemic has been the strongest. “The economy is defying predictions that inflation would not fall absent significant job destruction,” Ms. Brainard said, according to her prepared remarks. While the latest data showed that Mr. Biden may be able to get that gentle slowdown, the economy still faces headwinds. The Fed, which has raised interest rates above 5 percent to try and cool the economy, is expected to lift them again later this month. Treasury Secretary Janet L. Yellen said in an interview with CBS this week that a recession is “not completely off the table.” Still, she expressed optimism that while the labor market would likely soften, the United States would not experience such a downturn.

Threads Review: How Meta’s New App Stacks Up Against Twitter 2023-07-12 - When we — Brian X. Chen and Mike Isaac, both longtime tech journalists — got an assignment from our editor last week to review Threads, the new social network from Meta, it was like a blast from the past. Both of us have written about social networks for over a dozen years. In the last half dozen of those years, the social media landscape has been largely static — with the exception of the rise of the short-video app TikTok — and was dominated by Meta, which owns Instagram and Facebook. The arrival of Threads, which was spun out of Instagram and is aimed as a prime place for public, real-time conversations, shakes up that scene. While the new app could end up a fad, it could also be a potent threat to Twitter, which has retained its crown as a hub of conversation for more than a decade. But how many of us will hang out on Threads? We wondered how we would take to it since one of us — Brian — is a casual Twitter user, and the other — Mike — is a longtime Twitter addict, which might affect our experience with Meta’s new app. Here’s what we found about Threads’ pros and cons and whether it might become a part of your life.

Tommy Tuberville said the quiet part out loud 2023-07-12 - Sen. Tommy Tuberville of Alabama would like you to know that he is “totally against racism.” For good measure, he told reporters on Capitol Hill on Monday, “there’s nobody less racist in this building than me.” Even Tuberville — who thinks the three branches of government are “the House, the Senate and the executive” — knows these aren’t the kind of statements a senator makes when he’s having a good week. But in real time he is learning something key to being a GOP politician: how to race-bait without being too obvious about it. This all began in May, when Tuberville criticized the Pentagon for its efforts to root out white nationalism in the military. When asked in a radio interview whether he thought white nationalists should be allowed in the military, he responded, “Well, they call them that. I call them Americans.” Though Donald Trump may have shown Republicans they don’t have to be particularly subtle, they still don’t want to be too explicitly racist. Those comments have stayed in the spotlight because Tuberville has placed a monthslong hold on dozens of military promotions to protest the Pentagon’s policy of paying travel expenses for active-duty personnel seeking abortion care. As a result, the Marine Corps is now without a Senate-confirmed commandant for the first time in 150 years. Though even some Republicans are exasperated with Tuberville’s blockade, he’s maintained his hold, and thus he — and that radio interview — have been resurfacing in the news. In a CNN interview this week, Tuberville defended himself, saying, “My opinion of a white nationalist, if someone wants to call them white nationalist, to me is an American.” But after a torrent of criticism — again, including from some Republicans — Tuberville backtracked to say he opposed racism itself, as though someone finally explained to him that “white nationalism” doesn’t just refer to patriotic folks who happen to be Caucasian, but is a racist ideology asserting that the country should be run by and for white people. The problem Republicans may have with Tuberville is that he doesn’t understand a fundamental principle of contemporary conservative rhetoric on race: Though Donald Trump may have shown Republicans they don’t have to be particularly subtle, they still don’t want to be too explicitly racist. So for instance, when Tuberville said in 2022 that Democrats are “pro-crime” and “want reparations because they think the people that do the crime are owed that,” it was a little too unambiguous. But GOP politicians know that Republican voters are more likely to believe that whites face racial discrimination rather than blacks. So their trick instead is to stir up outrage at any effort to acknowledge, explore or address racism against nonwhite people, while saying that you’re only doing it because of your passionate opposition to racism itself. And while Tuberville may be moderately chagrined, neither he nor his party is any less committed, as both a substantive and political matter, to what we might call its anti-anti-racism project. That’s why nearly every contemporary conservative initiative to undermine anti-racist efforts that originate with liberals is presented as the truest opposition to racism. Why must affirmative action be dismantled? So no one will be discriminated against because of their race. Why must we restrict what teachers are allowed to say about racism? So no one is made to feel bad because of their race. Neither Tuberville nor his party is any less committed to what we might call its anti-anti-racism project. And then there’s the the most horrifying brand of racism for Republicans: white people being unfairly accused of racism. Vicious liberals wielding false racism accusations is a constant topic on conservative talk radio. It feeds conservative victimhood narratives, and it’s why Republicans have passionately fought against efforts to eradicate extremism from the ranks of the military, the issue that led Tommy Tuberville to start riffing on “white nationalism” in the first place. Preventing more versions of Timothy McVeigh — the white nationalist Army veteran who used his training in explosives to murder 168 people in Oklahoma City in 1995 — seems a self-evidently worthy goal for the military to pursue. But Republicans don’t think so. In 2009, the Department of Homeland Security issued a report warning that military personnel and veterans were prime recruiting targets for extremist groups, including white supremacists; the performative outrage from Republicans was so intense that then-DHS Secretary Janet Napolitano withdrew the report and went on Fox News to apologize. And amidst this current controversy, Tuberville’s office issued a statement saying Tuberville “was being skeptical of the notion that there are white nationalists in the military, not that he believes they should be in the military.” Even if that statement bore any relationship to what Tuberville actually said, which it doesn’t, it’s an equally problematic assertion. One study from the University of Maryland showed that among the hundreds of active-duty and ex-military personnel arrested for criminal offenses motivated by political extremism from 1990 to 2021, over 80 percent were identifiably right wing, either anti-government/militia or white supremacist. A 2020 Pentagon report warned about white supremacists in the military, stating “individuals with extremist affiliations and military experience are a concern to U.S. national security.” But Tuberville and other Republicans are more interested in condemning the Pentagon for being too “woke” for seeking diversity. At least two GOP candidates for president, Florida Gov. Ron DeSantis and former Vice President Mike Pence, have proclaimed their intention to again rename Fort Liberty in North Carolina after its former namesake, Confederate general and slave owner Braxton Bragg. (And before the base was renamed Liberty last month, Donald Trump repeatedly defended honoring Bragg.) DeSantis and Pence claimed to be defending tradition against “political correctness,” but we know what it really is: an attempt to convince white voters that they should feel threatened and angry, then turn those feelings into voter turnout. But even Republicans know race-baiting can’t be so blatant that it sounds to everyone like simple racism. That’s the lesson Tommy Tuberville will no doubt take from this episode. He won’t change what he believes, but he may be a little more careful about what he says.

Feds finally say Trump didn’t act as president while allegedly defaming Carroll 2023-07-12 - Even though he was president at the time, Donald Trump wasn’t acting under his presidential duties in 2019 when he denied sexually assaulting writer E. Jean Carroll. It sounds obvious enough, but the federal government only recently came to that legal conclusion. In a court filing Tuesday in Carroll’s ongoing defamation lawsuit against Trump (separate from the verdict she won in May), the Justice Department explained the evolution in its thinking on the subject. Previously, the government maintained that Trump was immune from liability because he had acted within the scope of his employment. The department initially intervened for Trump under his attorney general, William Barr, in a move that the Biden administration continued under Attorney General Merrick Garland. So, why the legal change of heart? It boiled down to new legal and factual developments. For one thing, a recent appeals court ruling clarified the analysis. Citing language from that ruling, the DOJ said Tuesday that there’s insufficient basis to think Trump was motivated by “more than an insignificant” desire to serve the government when he allegedly defamed Carroll in 2019. Of course, that selfish Trumpian impulse has been clear all along. But the government was looking through a more formalistic legal lens. Looking through that lens now, based on intervening law and facts, the government feels free to cut Trump loose, putting him at greater risk of further liability in Carroll’s ongoing legal quest against him. Reading the government’s letter, one realizes that Trump has, once again, taken an undeserved benefit and squandered it, leaving only himself to blame. (On his social media site, Trump decried the DOJ’s decision and continued to maintain his innocence.) Among other remarks, the Justice Department pointed to Trump’s CNN town hall in May, at which he called Carroll’s accusations a “fake story” even after a jury had found him liable for sexually abusing and defaming her. Because he was no longer president when making that statement and others similar to the alleged 2019 defamation, the DOJ wrote, “Mr. Trump could not have been motivated by any interest in serving the United States Government.” That obvious fact helped the government conclude, in retrospect, that he also lacked such an interest in serving his country when allegedly defaming Carroll back in 2019. As my colleague Lisa Rubin explained on “Deadline: White House” on Tuesday, it’s a significant reversal on DOJ’s part: Unsurprisingly, that significance isn’t lost on Carroll’s lawyer, Roberta Kaplan. “Now that one of the last obstacles has been removed, we look forward to trial in E Jean Carroll’s original case in January 2024,” she said in a statement. While much can happen between now and January (or whenever the case goes to trial, if it does), this odd legal detour is now resolved.