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Live updates: Pennsylvania"s GOP Senate primary is going down to the wire

Senate seats in contention, Rep. Madison Cawthorn loses in North Carolina and a GOP face-off in Pennsylvania to run for US Senate. North Carolina GOP Rep. Madison Cawthorn lost his seat in a primary on Tuesday.Saul Loeb - Pool/Getty ImagesWelcome to the Insider live blog for the May 17 primaries.Key Senate and House races remain too close to callFormer President Donald Trump poses for photos with David McCormick at the Trump National Golf Club Bedminster clubhouse in Bedminster, N.J. Mehmet Oz speaks at a town hall-style event at the Newtown Athletic Club in Newtown, Pa.AP Photo/Carolyn Kaster and AP Photo/Marc LevySeveral races are still neck-and-neck as of Wednesday morning, including the high-profile Republican Pennsylvania Senate contest, where just 0.19 percentage points separate Dr. Mehmet Oz from David McCormick with thousands of absentee ballots left to be counted. Meanwhile in the House, progressive candidates are potentially on the verge of scoring two big wins, with Jamie McLeod-Skinner on track to knock out centrist Rep. Kurt Schrader in Oregon's 5th District and progressive Summer Lee leading her main rival Steve Irwin by 446 votes in the open race for the Pittsburgh-based 12th Congressional District.  -Grace Panetta Pennsylvania remains unsettled as election night draws to a closeGREENSBURG, PA - Pennsylvania Republican U.S. Senate candidate Dr. Mehmet Oz joins former President Donald Trump onstage during a rally.Photo by Jeff Swensen/Getty ImagesDr. Mehmet Oz and Dave McCormick remain in neck-and-neck contention for the GOP nomination for Senate in Pennsylvania with less than half a percentage point separating the two frontrunners by late Tuesday night, meaning the race may not be called until Wednesday. More votes are still left to be counted in counties were Oz has been performing well, and a ballot printing error in Lancaster County that will require workers to manually recreate and re-scan 16,000 absentee ballots over the next few days will also potentially slow down the counting if the race remains this close. -Grace Panetta Lamb reportedly concedes Pennsylvania Senate primaryConor Lamb.Brendan McDermid/ReutersRep. Conor Lamb has conceded Pennsylvania's Democratic Senate primary, Politico's Holly Otterbein reports.Lt. Gov. John Fetterman is projected to win the contest, per Decision Desk HQ. As of 11 p.m. Eastern Time, Fetterman was running ahead of Lamb by more than 32 percentage points.We still don't know who the Republican nominee is and may not find that out tonight. Either way, the general election could decide which party will control the Senate. — By Brent D. GriffithsPolls close, wrapping up an evening of primariesIdaho Gov. Brad Little.Darin Oswald/Idaho Statesman/Tribune News Service via Getty ImagesPolls are closed everywhere in the country, wrapping up an evening of primaries in states all over the US. The final results will come in Idaho, which just closed its last polls, and Oregon, which votes entirely by mail. The final race that will determine former President Donald Trump's status as kingmaker in the Republican party is in Idaho. There, Incumbent Gov. Brad Little is facing a primary challenge from his own Lieutenant Governor Janice McGeachin, whom Trump endorsed. Oregon has an open primary for governor after the current governor, Democrat Kate Brown, is term limited out. US House seats are also up for grabs, with tensions growing between centrist and progressive Democrats in the House. Follow along to see the results of the races for gubernatorial nominations and congressional seats in Oregon, and for the governor's race in Idaho. - Kimberly Leonard Meet the man who just took down Rep. Madison CawthornChuck Edwards, a North Carolina state senator, defeated freshman GOP Rep. Madison Cawthorn on Tuesday.Camila DeChalus/InsiderTake a look at this Insider profile of state Sen. Chuck Edwards, the Republican who just unseated Rep. Madison Cawthorn in North Carolina's 11th Congressional District.Senior Reporter Camila DeChalus traveled to Hendersonville and spoke with the state senator in May to learn more about the rising star in North Carolina. She found the antithesis of Cawthorn in Edwards: a candidate lacking his rival's hyperbolic bravado and a scant social media presence.When DeChalus asked about Cawthorn's plethora of recent controversies, Edwards told her that "it's obvious that he [Cawthorn] got caught up in political stardom and turned his back on the people in these mountains."He said that his "qualms with Madison Cawthorn are based on his performance and his poor attendance record in Congress."— By Madison HallBiden lauds Fetterman's Pennsylvania Senate nominationPresident Joe Biden hadn't said anything about the Pennsylvania Senate race — until John Fetterman won the Democratic nomination.AP Photo/Carolyn KasterPresident Joe Biden finally has something to say about Pennsylvania's Democratic Senate race.Lt. Gov. John Fetterman is projected to be the Democratic Party's nominee in what will be one of the nation's closest watched Senate races, Decision Desk HQ projects.Unlike his predecessor, Biden loathes to weigh in on contested party primaries. It didn't help matters that the Delawarian president who never forgets his Scranton roots encountered a race with three big names in Pennsylvania politics: Fetterman, Rep. Conor Lamb, and state-Sen. Malcolm Kenyatta.Lamb and Kenyatta were close Biden allies. Biden bestowed one of his highest compliments on Lamb, saying that the young former Marine reminded him of his son Beau Biden when Lamb's 2018 special election attracted national attention. While Kenyatta was a key Biden surrogate and was among a group of rising stars that spoke during the 2020 Democratic National Convention's keynote address."Democrats are united around John, who is a strong nominee, will run a tough race, and can win in November," Biden said in a statement.— By Brent D. GriffithsA legislative leader and TikTok star is headed to Congress from KentuckyMorgan McGarvey, Kentucky's state Senate minority leader, is a TikTok star.Timothy D. Easley/AP PhotoKentucky's state Senate minority leader Morgan McGarvey, who won the Democratic primary to succeed retiring Rep. John Yarmuth in the safely Democratic, Louisville-based 3rd Congressional District, will also bring some TikTok starpower to Congress. McGarvey and his colleague, Sen. Reginald Thomas, currently boast nearly 130,000 followers on the @kysenatedems account. That's where the two use TikTok trends to document their daily lives in the state legislature and the woes of being in the superminority, including a video of Thomas doing the "Rick & Morty" trend in front of the state Senate chamber that eaned 5.7 million views.McGarvey is likely to also be in the minority in Congress, but at least he can give his colleagues some TikTok pointers. -Grace Panetta Rep. Madison Cawthorn losesRep. Madison Cawthorn, R-N.C.House Television via APControversial GOP Rep. Madison Cawthorn is projected to lose his re-election campaign in the face of fierce opposition from his fellow North Carolina Republicans.State-Sen. Chuck Edwards is projected to win the race, per Decision Desk HQ. Sen. Thom Tillis endorsed Edwards, a sign of just how much fellow elected Republicans rebelled against Cawthorn.Cawthorn courted controversy even before his election. But the 26-year-old finally hit a nerve on Capitol Hill when he suggested on a podcast that there were illicit sex and drug-filled parties in Washington. House Minority Leader Kevin McCarthy said publicly that Cawthorn had lost his trust. Tillis came off the sidelines and pushed hard for Edwards' campaign. And the rest is now history.— Brent D. GriffithsNorth Carolina GOP Senate candidate Ted Budd and Donald Trump.Chris Seward/AP PhotoFormer President Donald Trump's endorsement of Republican Rep. Ted Budd was likely crucial in helping the two-term lawmaker clinch the GOP nomination for US Senate on Tuesday, despite a crowded field of contenders. But Budd too has been decidedly Trumpian in the types of legislation he has introduced while in Congress. In April, for example, he introduced the Build the Wall Now Act to have the federal government continue constructing the border wall between the US and Mexico that was started under Trump and that President Joe Biden paused by executive order. Budd also introduced the Justice for Victims of Sanctuary Cities Act of 2021, which would allow people to sue cities if someone unauthorized to be living in the US committed a crime against them. While in office, Trump targeted sanctuary cities that are often led by Democrats and that sheltered migrants against federal crackdowns on illegal immigration. On education, Budd introduced a bill to recreate Trump's 1776 Commission, which was disbanded under Biden. Members of the conservative commission had created a 45-page document that aimed to promote a "patriotic education," and was intended as a rebuttal to the New York Times' 1619 Project. Budd's Freedom from Regulations Act, introduced in 2021, echoed a Trump-era executive order that called for trashing two regulations every time the administration created a new one. — Kimberly LeonardClay Aiken on track to lose, Decision Desk HQ projectsAmerican Idol star Clay Aiken is headed for defeat in his race for a US House seat in North Carolina.Vince Bucci/Getty ImagesClay Aiken is currently running third in the race for the Democratic nomination for North Carolina's 4th Congressional District. State-Sen. Valerie Foushee is already projected to have won the nomination. Long-time incumbent Rep. David Price, a Democrat, previously announced his retirement after over 30 years in Congress.Aiken won his party's 2014 nomination but later lost the general election to then-Rep. Renee Ellmers. The 2003 American Idol runner-up decided to give it another go this cycle.Since American Idol, Aiken launched a private foundation and starred on Broadway in the Monty Python-inspired "Spamalot."Daily Kos Elections joked on Twitter that now it can no longer be said that Aiken finishes second in everything. Outside of elections, Aiken finished as the runner-up on 2012's edition of the Celebrity Apprentice when it was still hosted by then-future President Donald Trump.— Brent D. GriffithsDoug Mastriano, a Pennsylvania state senator, is the Republican nominee for governor.Carolyn Kaster/AP PhotoDoug Mastriano is the winner of the Republican primary in the Pennsylvania gubernatorial race, according to DDHQ and Insider.— Madison HallFetterman's turn in the Insider spotlightJohn Fetterman on the Senate campaign trial in May 2022.Keith Srakocic/AP PhotoCheck out this Insider profile of John Fetterman, the Democratic nominee for the US Senate from Pennsylvania. In November 2020, Insider's Charles Davis interviewed Fetterman about his journey from being largely apolitical, to being elected mayor of Braddock, Pennsylvania, in 2005, to being branded a rising Democratic star.Fetterman told Insider that he doesn't think that Democrats can't reach Trump voters. "If we're going to reverse the fortunes of not only our party but, most importantly, communities and regions, [we need to be] reinvesting and acknowledging that these places deserve to be championed," Fetterman said."There's certainly unreachable people," he said. "I think it's people reacting to a level of authenticity or rawness. You're not going to convince me that Pennsylvania changed radically from Barack Obama to Donald Trump."— Sarah GrayMehmet Oz: Not in it for the moneyMehmet Oz would earn $174,000 if he becomes a US senator.Matt Rourke/APIf Donald Trump endorsee Mehmet Oz win's tonight's US Senate primary in Pennsylvania, then defeats the Democratic nominee in November, he'll earn a standard congressional salary, which today stands at $174,000.Not bad, no, but it's peanuts compared to what he's been making in the private sector — or perhaps pistachios, given that Oz scored a cool $125,000 for a one-day speech to the American Pistachio Growers Association in March 2020, according a federal financial disclosure Oz submitted to the Senate in April.For hosting quiz show Jeopardy! during a two-week stint in late March and early April 2021, Oz earned $268,701, records show.And that's all before you consider his former day job: Oz reported earning more than $7 million from "income derived from ownership interest in Oz Media LLL through Oz Property Holdings." He also received a $2 million salary for hosting the "Dr. Oz Show."Oz is also an active stock trader, reporting sizeable investments in companies such as Amazon, Apple, Microsoft, defense contractor Northrop Grumman, and drugmaker Johnson & Johnson, among several dozen others. — Dave LevinthalFetterman wins Pennsylvania Democratic senator nominationJohn Fetterman, left, is the Democratic nominee for the Pennsylvania US Senate seat.Keith Srakocic/AP PhotoJohn Fetterman is the winner of the Democratic primary race for Pennsylvania's US Senate seat. That's the call from Insider and DDHQ. Fetterman, currently the state's lieutenant governor, defeated Rep. Conor Lamb, Malcolm Kenyatta, and Alexandria Khalil. Fetterman is currently recovering from a recent stroke and announced on Tuesday that he had received a pacemaker implant.A pricey house race to watch near Pittsburgh: PA-12Sen. Bernie Sanders endorsed Pennsylvania state Rep. Summer Lee in her bid to win the nomination for the state's 12th congressional district.Rebecca Droke/AP PhotoWith the retirement of GOP Rep. Fred Keller, this district outside of Pittsburgh in the Susquehanna Valley is a potential pickup opportunity for Democrats.It's also a race that was looking pretty stale until the past few weeks. The frontrunner, state Rep. Summer Lee, has endorsements from Emily's List and Justice Democrats. Sen. Bernie Sanders recently stumped for her and she seemed to have everything going in her favor until a ton of money started pouring into the race. The American Israel Public Affairs Committee, most commonly referred to as AIPAC, has been funding ads through a new Super PAC called the United Democracy Project for Lee's opponent, Steve Irwin. Lee would be the latest in a new generation of Democrats in Washington with positions further to the left than most of the caucus, as well as more critical views of Israel. Should Irwin pull out a victory, his surge couldn't have been hurt by the AIPAC ad spree, but Lee remains the favorite. The Republican primary has been more quiet, with Michael Doyle — unrelated to retiring Rep. Mike Doyle — running unopposed.— Jake LahutPennsylvania's US Senate race is stupid expensivePennsylvania Republican Senate Candidate Mehmet OzAlexi Rosenfeld/Getty ImagesThe government of Erie, Pennsylvania, population 94,831, forecasts that it'll bring in about $95.7 million worth of revenue during 2022.Pennsylvania's US Senate race, meanwhile, is on pace to bring in twice that — maybe even more — en route to competing for the crown of the year's most expensive political race.As of April 27, the race had already attracted more than $68.3 million in contributions, according to federal records compiled by nonpartisan research organization OpenSecrets.There are two overriding reasons for this. First, both the Republican and Democratic primaries are highly competitive. They feature multiple candidates — David McCormick, Mehmet Oz and Kathy Barnette on the right, John Fetterman and Conor Lamb on the left. More candidates + more competition = more, more, more money.Second, McCormick and Oz are extremely wealthy. Both have pumped millions of dollars of their personal money into the race, with Oz alone accounting for more than $12 million, according to Federal Election Commission records. McCormick, at $11 million, isn't far behind.Tonight's winners will then have nearly six months to slug each other ahead of November's general election. National party committees and super PACs, which may raise and spend unlimited amounts of money, will almost assuredly supplement the candidates' own fundraising efforts with tens of millions of more dollars.— Dave LevinthalPolls in Pennsylvania closed at 8 p.m. ET.InsiderFollow along to see the results for the Republican and Democratic  candidates for governor, the US Senate, House from the Keystone State.Madison Cawthorn's cryptic crypto play may have violated the STOCK ActMadison Cawthorn, Republican nominee for North Carolina's 11th Congressional District, speaks during the largely virtual 2020 Republican National Convention broadcast from Washington, on August 26, 2020.2020 Republican National Convention/Handout via ReutersRep. Madison Cawthorn has plenty of problems — ones involving guns, money, cocaine orgies, and a nude video, to name four.One that's flying a bit below the radar, but still serious: he may have violated a federal conflicts-of-interest law by not publicly reporting his stated purchase in a cryptocurrency named for an anti-Joe Biden slogan.Per federal law, Cawthorn had 45-days to formally disclose details about his crypto play. But as of this evening, Cawthorn had done no such thing, and his campaign and congressional office have not responded to Insider's questions as to why.Failure to properly report such financial transactions can result in a fine administered by Congress, or in extreme cases, a referral to the Department of Justice.— Dave LevinthalTed Budd wins GOP Primary for open Senate seatFormer President Donald Trump endorsed Rep. Ted Budd of North Carolina in the 2022 North Carolina Senate race.AP Photo/Chris SewardRepublican Ted Budd will face off against Democrat Cheri Beasley for a crucial open US Senate seat in North Carolina, Insider and Decision Desk HQ project. Budd is a Republican congressman who was endorsed by President Donald Trump, and easily cleared a field of GOP opponents. Beasley, the former chief justice of the North Carolina Supreme Court, is hoping to flip control of the seat currently held by retiring GOP Sen. Richard Burr.Mayoral MayhemCharlotte, NCShutterstockA Republican hasn't been the mayor of Louisville, Kentucky, for more than 50 years. Four Republican candidates are hoping to change that, including Bill Dieruf, the current mayor of Jeffersontown, a nearby suburb. The current mayor of Lexington, Kentucky's second-largest city, Linda Gorton, is running for reelection. Gorton's opponents recently chided her at a public forum over housing costs and crime rates. She countered by noting that she rose to the occasion when challenges surfaced in Lexington during her time in office, particularly during the pandemic.In Charlotte, North Carolina, Democratic Mayor Vi Alexander Lyles is vying for another term in office. Lyles became the first Black mayor in Charlotte history in 2017 after unseating the incumbent mayor. She's facing off against three other Democratic candidates tonight.You can check out and follow the three mayoral primaries here.—Madison HallJohn Fetterman gets pacemakerIn this Sept. 21, 2018 photo, former Braddock, Pa., Mayor John Fetterman speaks at a campaign rally for Pennsylvania candidates in PhiladelphiaAP Photo/Matt RourkePennsylvania Lt. Governor John Fetterman "just completed a successful procedure to implant a pacemaker with a defibrillator," his communications director, Joe Calvello, said in a statement Tuesday evening. "The procedure began at 3:15 pm, John was released at 5:56 pm, and he has been given the all-clear that it was successful. He is resting at the hospital and recovering well. John continues to improve every day, and he is still on track for a full recovery."Fetterman, who is running for the US Senate in Pennsylvania in tonight's Democratic primary, suffered a stroke last week.— Dave LevinthalResults just beginning to trickle in in KentuckyHouse Budget Committee Chairman John Yarmuth, D-Ky., talks with reporters after meeting with the House Democratic Caucus and Biden administration officials to discuss progress on an infrastructure bill, at the Capitol in Washington.J. Scott Applewhite/APPolls closed in Kentucky at 6 p.m. Eastern Time, and the results are beginning to come in. See results for the Senate, House and state legislative primaries here, and results for the mayoral elections in Louisville and Lexington here.The most notable primary race of the night is the Democratic primary in Kentucky's Third District to replace retiring Democratic Rep. John YarmuthA slew of Democratic candidates are seeking the nomination for the mayor's office in Louisville to replace term-limited outgoing Mayor Greg Fischer. Incumbent Mayor Linda Gorton is also seeking reelection to the mayor's office in Lexington, Kentucky in a nonpartisan primary. Democrats love Republican primaries — for fundraisingDemocratic Rep. Sean Patrick Maloney, DCCC Chair, at a press conference on Capitol HillBill Clark/CQ-Roll Call, Inc via Getty ImagesThe Democratic Congressional Campaign Committee is rarely immune to hyperbole or breathlessness. So it should perhaps come as little surprise how much the party's campaign arm for US House races is leveraging today's Republican Senate primary in Pennsylvania to raise cash for itself."Trump has already helped make J.D. Vance the Republican nominee in the critical Ohio Senate race. Now, he's scheming to do the same with Dr. Oz in the ultimate swing state of Pennsylvania … please understand: If Trump is able to pack Congress with his top loyalists, it could pave the way for his return to the White House," the DCCC wrote supporters.It continues: "And at this dire moment, you have two options: OPTION 1: Ignore our urgent pleas, delete this email, and watch while Trump destroys our House Majority and Democratic Trifecta with his dangerous followers. OPTION 2: Step up with a powerful grassroots gift before midnight to stop Trump's power-hungry schemes and protect our Democratic House."  — Dave LevinthalTight gubernatorial primary races in the Beaver State- Former Oregon House Speaker Tina Kotek, who is running for governor, poses for photos in Columbia Park in Portland, Ore., on Feb. 18, 2022. Oregon's primary elections are Tuesday, May 17, 2022.AP Photo/Sara Cline, fileDemocratic Gov. Kate Brown is finishing up her second term in office and cannot run again. After 35 straight years of having a Democrat as governor, Republicans in Oregon are hoping this is their year to regain executive power, but must figure out their nominee from a slate of 19 candidates led by former state Rep. Christine Drazan and businessman Bob Tiernan. With Brown term-limited, she leaves behind a wide-open Democratic field with 15 candidates. Two notable leaders on the Democratic ticket include Oregon Treasurer Tobias Read and former House Speaker Tina Kotek.The list of Democratic primary contenders used to be longer — former New York Times columnist Nick Kristof left his job to explore running for office in October 2021. Oregon's Supreme Court ultimately ruled in February that he couldn't be on the ballot, citing his failure to meet the three-year residency requirement to qualify.— Madison HallEmbattled Rep. Madison Cawthorn fights for a second term after a slew of scandalsU.S. Rep. Madison Cawthorn, R-N.C., waves to the crowd after he spoke before former President Donald Trump takes the stage at a rally on April 9, 2022, in Selma, NC.Chris Seward/APCawthorn catapulted into rising star status in the GOP when he was elected to Congress from North Carolina's 11th District in 2020 at age 25. But a series of ethics troubles, and explosive comments have infuriated his GOP colleagues and spurred some to openly root for his ouster, as Michael Kruse recently dug into for Politico Magazine. Our Camila DeChalus reported from Hendersonville earlier this month on Cawthorn's leading primary challenger, state Sen. Chuck Edwards, voters' mixed feelings about Cawthorn's scandals, and the former volunteers who have buyer's remorse. A split field of seven primary challengers could help Cawthorn squeak by to reelection, but he could head to a July 26 runoff if no one gets about 30% of the vote. — Grace PanettaWould you pay $1 million out-of-pocket for a US Senate seat?McCormick received more than $70 million in discretionary awards connected to a Bridgewater Associates plan.Divorce agreement between David McCormick and Amy RichardsonAs C. Ryan Barber and Adam Wren reported earlier this year, divorce documents obtained by Insider indicate that Republican US Senate candidate David McCormick could face such a situation — if he's first able to survive his Pennsylvania primary battle against Mehmet Oz and Kathy Barnette.As Barber and Wren wrote: "McCormick's divorce agreement includes a clause stipulating that he would pay his ex-wife $1 million if he voluntarily left his lucrative position at Bridgewater Associates for the 'public domain.' The agreement between McCormick and his ex-wife, Amy Richardson, defined 'public domain' as employment in 'any government entity' and required him to pay the seven-figure sum in a pair of $500,000 installments in the first two years of any full-time public sector job.Once the frontrunner, McCormick has slipped in the polls of late and could conceivably finish third. Former President Donald Trump has endorsed Oz, the longtime television show host, while Barnette has surged as a MAGA-friendly alternative to both Oz and McCormick. — Dave LevinthalOz, Barnette, and McCormick jockey in a close race in PennsylvaniaPennsylvania Republican Senate candidate Kathy Barnette speaks during a campaign rally at The Fuge in Warminster, Pennsylvania.Photo by Michael M. Santiago/Getty ImagesWe went to Pennsylvania earlier this month and found a lot of Trump voters who were pretty unhappy with Dr. Mehmet Oz as the former president's endorsement. Kathy Barnette has had an impressive surge late in the race, but the conservative author's background is now the subject of considerable scrutiny and has some Republicans worried she'd get beat by the Democrats should she make it to the November general election. No doubt, a victory for Barnette would be a big shock. But she's been within striking distance in all the latest polls. The candidate hoping to get a bump from undecideds is former hedge fund CEO David McCormick, who has picked up endorsements from the likes of Sen. Ted Cruz and former Secretary of State Mike Pompeo.– Jake LahutRead the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 18th, 2022Related News

Wednesday links: sentiment ratings

MarketsSome very good reasons why consumer (and investor) sentiment is in the dumps. (theirrelevantinvestor.com)Information hygiene is crucial in a bear market. (ritholtz.com)Venture capitalVCs and founders are going to have to unlearn some lessons. (howardlindzon.com)Andreessen Horowitz has raised a $600 million fund to invest in games. (venturebeat.com)Some things that founders should re-focus on at this time. (medium.com)Elite schools still account for the most startup founders. (news.crunchbase.com)Fund managementThe end of falling rates is going to put big managers like Pimco to the test. (ft.com)Vanguard is struggling with their info systems. (etf.com)EconomyGasoline is now more than $4 a gallon in all 50 states. (cbsnews.com)Housing is set to be a net positive for the economy over the coming year. (bonddad.blogspot.com)Not every recession means a disaster. (awealthofcommonsense.com)How remote work affected home prices. (marginalrevolution.com)Earlier on Abnormal ReturnsPersonal finance links: investor psyches. (abnormalreturns.com)A Q&A with Brian Feroldi author of “Why Does the Stock Market Go Up.” (abnormalreturns.com)What you missed in our Tuesday linkfest. (abnormalreturns.com)Research links: adapting to changing markets. (abnormalreturns.com)Writing IS thinking. (abnormalreturns.com)Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)Mixed mediaCo-working spaces are seeing an uptick in traffic. (nytimes.com)Why remote work is a boon for college towns. (bnnbloomberg.ca)Remote work is making corporate retreats more important. (axios.com)Why younger employees should rush back to the office. (collaborativefund.com).....»»

Category: blogSource: abnormalreturnsMay 18th, 2022Related News

Tesla has been kicked out of the S&P 500"s ESG index even though it makes zero-emission products. Here"s why.

"ESG is an outrageous scam! Shame on S&P Global," Tesla CEO Elon Musk tweeted in response to his company getting kicked out of the index. Photo by Yasin Ozturk/Anadolu Agency via Getty ImagesTesla has been kicked out of the S&P 500 ESG index despite its focus on making zero-emission products."ESG is an outrageous scam! Shame on S&P Global," Tesla CEO Elon Musk tweeted in response.Here's why Tesla was kicked out of the sustainably focused stock market index this week.Tesla stock was kicked out of the S&P 500 ESG Index on Wednesday despite its focus on making electric vehicles, solar panels, and batter packs.S&P Global executed its fourth annual rebalance of the sustainably focused, large-cap index this week, and the portfolio looks relatively similar to the plain-vanilla S&P 500 index. The S&P 500 ESG Index holds 308 stocks and counts Apple, Microsoft, Amazon, and Alphabet as its top four holdings.But Tesla, which is the fifth largest holding in the S&P 500, was ineligible to be included in the ESG index due to its low S&P DJI ESG score, according to S&P Global. That score fell in the bottom 25% of its industry group peers. Tesla joins Berkshire Hathaway, Johnson & Johnson, and Meta Platforms as the top mega-cap companies that have been excluded from the index."ESG is an outrageous scam! Shame on S&P Global," Tesla CEO Elon Musk tweeted in response to the development. "Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn't make the list. ESG is a scam. It has been weaponised by phony social justice warriors," Musk added.Digging deeper, there were multiple reasons why Tesla stock was excluded from the index despite its commitment to transitioning the world to cleaner energy, according to S&P Global."First and foremost, the GICS industry group in which Tesla is assessed experienced an overall increase in its average S&P DJI ESG score. So, while Tesla's ESG score has remained fairly stable year-over-year, it was pushed further down the ranks relative to its global industry group peers," S&P Global explained in a blog post.That makes sense given that legacy automakers have turbocharged their efforts to jump into the electric vehicle space over the past year.Tesla's lack of a low-carbon strategy and codes of business conduct also contributed to the company's fallout from the index, as did the company's exposure to risks stemming from its involvement in controversial incidents."A media and stakeholder analysis identified two separate events centered around claims of racial discrimination and poor working conditions at Tesla's Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles," S&P Global said.Those events led to a lower ESG score for Tesla, leading to its elimination from the index."While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens," S&P Global concluded.Tesla stock fell about 5% in Wednesday trades amid a broader market sell-off. Read the original article on Business Insider.....»»

Category: personnelSource: nytMay 18th, 2022Related News

S&P Cuts World"s Largest EV Maker From ESG Index, Musk Slams "Outrageous Scam"

S&P Cuts World's Largest EV Maker From ESG Index, Musk Slams "Outrageous Scam" The world’s largest and most-famous electric-vehicle maker has been removed from the ESG version of the S&P 500 Index. Margaret Dorn, senior director and head of ESG indices for S&P Dow Jones in North America, said in a Tuesday blog post: “While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens." ..."playing its part?" The index provider also cited concerns related to working conditions and the firm’s handling of an investigation into deaths and injuries linked to its drive-assistance systems. Here are the top holdings remaining in the index, including Exxon Mobil (fossil fuels), Apple (China slave labor), and Amazon (which is working against unions)... And Tesla is worse than all of them? .@SPGlobalRatings has lost their integrity — Elon Musk (@elonmusk) May 18, 2022 This is not the first time we have discussed ESG and its surreal virtue-signaling claims: Danske Bank Slaps 'ESG' Label On 95% Of Its Funds As Top Banker Speaks Out Against "Greenwashing" ESG Investing - The Great Wall Street Money Heist "This Is Absurd" - Wall Street Pushes For Defense Stocks To Get 'ESG' Label Laughing To The Bank... Unfortunately, for investors, while these funds cost much more to own, their performance isn’t any better than just holding the substantially cheaper index fund. As shown, the correlation between Blackrock’s USA ESG fund and the S&P 500 Index is almost perfect. 10-day rolling returns correlation between SUSA and SPY. (Chart courtesy of Michael Lebowitz, CFA) “These funds lately haven’t beat ­indices that are simply created to make you money and only do so when they pack themselves with high-flying tech names. Sounds good on paper — until you drill down. For starters, such investing methods are highly political and veer far to the left. Companies often get good grades for supporting lefty causes such as Black Lives Matter. Oil companies like Exxon will get higher marks for building wind farms that produce energy inefficiently. But here’s where Larry Fink and BlackRock still come out ahead: They have sensed that with all the media hype of ESG investing as the next frontier, they can also make a lot of money creating a new type of fund dedicated specifically to ESG — and then charge more for it.” – NY Post In short, while Wall Street pushes out products to make “you” feel like you are socially responsible, they laugh all the way to the bank. Tesla founder and CEO Elon Musk summed up the thoughts of many at this farcical decision: ESG is an outrageous scam! Shame on @SPGlobal — Elon Musk (@elonmusk) May 18, 2022 "Outrageous Scam" indeed... we wonder if Tesla would still be in the index if Musk wasn't trying to bring free speech to Twitter? Despite Tesla doing more for the environment than any company ever! pic.twitter.com/ImxrhnRepj — Elon Musk (@elonmusk) May 18, 2022 As Musk added in a tweet shortly after... "Political attacks on me will escalate dramatically in coming months." Tyler Durden Wed, 05/18/2022 - 12:36.....»»

Category: blogSource: zerohedgeMay 18th, 2022Related News

Don’t Read This Blog Post

    My inbox is overflowing, and so I have been culling some of my email subscriptions.   Out: Everything hyperbolic, hair-on-fire, over the top. In: Anything insightful, contemplative, self-reflective. I want to be counter-algorithmic. I want to read experience and expertise from those folks with good records of identifying overlooked aspects of reality. This… Read More The post Don’t Read This Blog Post appeared first on The Big Picture.     My inbox is overflowing, and so I have been culling some of my email subscriptions.   Out: Everything hyperbolic, hair-on-fire, over the top. In: Anything insightful, contemplative, self-reflective. I want to be counter-algorithmic. I want to read experience and expertise from those folks with good records of identifying overlooked aspects of reality. This is rare, valuable, and useful. I do not want to reward the sites that are attention-seeking and unsubstantive; anything that is geared to push emotional buttons, generate anger or is filled with calls to action — these are gone. Deleted, unsubscribed, mark as spam, muted, blocked. All of the Media competing for your attention — that includes print, TV, social media, newsletters, blogs, etc. — its Adios, muchachos! to any of these that reward the most attention-grabbing click-bait claims, the more outrageous, the better. Content producers can build an audience — slowly but surely — by doing deep work, finding useful things, creating value. Alternatively, they can be the loudest, most outrageous voice in the room. That kind of junk media is counter-productive to both your investing success and your mental well being. If these or any other posts make you angry or upset, then don’t read them. Unsubscribe from anything making you anxious or causing you distress.1 This is not just a matter of money, but rather of time and attention, and to be blunt, maintaining a healthy mental outlook. Garbage in, garbage out: Fill your head with junk and it all but guarantees future behavioral mistakes.  Reducing your consumption of the worst kinds of media will go a long way towards better results of all kinds. Information hygiene is as important as valuation when it comes to subsequent results.     Previously: Sentiment LOL (May 17, 2022) Watching From Afar (March 2, 2020) Reduce the noise levels in your investment process (November 9, 2013) More Signal, Less Noise (October 25, 2013)     ______ 1. I refer to tone and caliber of work –  you do not want to create a filter bubble based on content substance. The post Don’t Read This Blog Post appeared first on The Big Picture......»»

Category: blogSource: TheBigPictureMay 18th, 2022Related News

10 Things in Tech: The next Silicon Valley

Happy Wednesday, folks. Today we're wondering whether Miami can really make it as the next Silicon Valley, and giving you a look at the Ford F-150 Lightning's best feature.Shall we?If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android.Sylvain Sonnet/Getty Images1. Can Miami really hack it as the next Silicon Valley? The city memed itself into America's newest tech utopia. But as the industry's future wavers, many are beginning to wonder if Miami could actually thrive as a globally competitive tech hub.Plenty of towns — from Atlanta's "Silicon Peach" to Salt Lake City's "Silicon Slopes" — have attempted to replicate California's success. If it plays its cards right, Miami could be one of the firsts to actually make it happen.The city has benefited from a crypto-loving mayor and the rise of remote work, which sent workers searching for home bases with a cheaper cost of living, better quality of life, and lower taxes. For many, Miami became a "have-it-all hub."But now, Magic City is facing a reckoning: Make real change, or end up a cautionary tale about what happens when you place all your bets on a bubble.How Miami can secure its future as a major tech hub.In other news:The Netflix logo is displayed on a smartphone screen.Rafael Henrique/SOPA Images/LightRocket via Getty Images2. Netflix cuts more roles on top of laying off 150 people yesterday. The company has cut an additional 70 workers from its animation studio and 60-70 contractors from social media and publishing, adding to the slew of lay offs confirmed on Tuesday. Get the full rundown here.3. Internal email shows Microsoft is raising stock ranges for senior employees by 20%.  Microsoft had previously confirmed new pay rises for early and mid-career staff, but now higher-ranking workers will also see a boost to their annual stock award ranges. Here's what Insider saw in the email.  4. Apple is delaying its return-to-office plan. The company is postponing its requirement that employees come in three days a week, Bloomberg reported. Instead, workers will have to come in only two days a week. Here's the latest on Apple's policy.5. Introducing 35 rising stars of the electric-vehicle industry. Insider selected young professionals from companies like Rivian, Lucid, and Sila Nanotechnologies who are most likely to advance in their industry and move it forward — check out our 35 under 35 list.6. Coinbase is slowing hiring. The cryptocurrency exchange is walking back plans to triple its headcount, according to a blog post by the company's COO. What we know so far.7. Amazon has tried to avoid federal investigations of some of its drone crashes. Documents obtained by Insider show Amazon's Prime Air program tried to put off investigations into its crashes by claiming the company has the authority to investigate its own crashes. How Amazon has begrudged federal oversight.8. Want an electric car? Be prepared for a long wait. Thanks to booming demand and a range of supply-chain issues, car companies Ford, Volkswagen, and Mercedes are sold out of EVs for months to come. Why you might have a hard time getting your hands on an EV.Odds and ends:Electric F-150 Lightning powers a worksiteFord Motor Co.9. The electric Ford F-150 Lightning's best feature? Its front trunk. After test-driving the Lightning, Insider's transportation reporter's main takeaway was its spacious and easily accessible front trunk — or "frunk." See inside the truck's frunk.10. Apple released new accessibility features. TechCrunch reported the new features include a universal live captioning tool, improved visual and auditory detection modes, and iOS access to WatchOS apps. Get the details.What we're watching today:Cisco, Tencent, and others are reporting earnings. Keep up with earnings here.Today is the 10th anniversary of Facebook debuting as a publicly listed company.Warner Bros. Discovery is unveiling the 2022-23 program lineups for brands including HBO Max.TC Sessions: Mobility takes place today through May 20.The developer-oriented GlueCon conference starts today.Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.Read the original article on Business Insider.....»»

Category: smallbizSource: nytMay 18th, 2022Related News

Are Putin And Xi "Gray Champions"? Part 2

Are Putin And Xi 'Gray Champions'? Part 2 Authored by Jim Quinn via The Burning Platform blog, In Part 1 of this article I examined previous Fourth Turnings and the Gray Champions who won and lost, but made a difference in the course of history. Now I will try to peer through the fog of disinformation, lies, and false narratives to try and determine which Gray Champions will make a difference in this Fourth Turning. The U.S. and NATO are playing with fire by poking the bear. This is no longer a limited conflict between Russia and the Ukraine. In the early days of the conflict, there were constant talks between both sides, with the possibility of a negotiated resolution. The American Empire nixed those talks. The neo-cons, representing the interests of the military industrial complex uni-party, see an opportunity to further enrich themselves, while believing they can bleed and weaken Putin. But who is really being weakened in the long run? Putin’s military operation began on February 24. Oil was $93 a barrel. It is up 13% and despite economic sanctions, Russian oil revenue is higher, and the ruble is at a two year high versus the USD and Euro. Natural gas prices are up 69%. Diesel prices are up 89%. Gasoline prices are up 29%. Wheat prices are up 31%. The stock market is down 5% and at a one year low. As an exporter of oil, natural gas, and wheat, is Russia really suffering from these price increases, or are the citizens of the EU and U.S. bearing the brunt of the pain? Russians are paying $2.80 a gallon for gasoline, while Americans are paying $4.65 per gallon. Who’s winning this proxy war? Russian oil exports are up 50% in 2022. The Biden administration is amateur hour on steroids. The State Department and Defense Department are led by inept woke lightweights who are stumbling and bumbling our country into World War 3. They keep pushing Putin, attempting to instigate him into an action they can use as a basis for officially declaring war against Russia. Make no mistake about it, the U.S. is already at war with Russia and Putin knows it. Economic sanctions, even though they have backfired and hurt Europe and the U.S. far more than Russia, are an act of war. Providing the Ukraine with tactical information so they can target generals and naval ships is an act of war. Shipping high tech military weaponry, in addition to enriching U.S. arms makers, to the Ukraine is an act of war. Sending $54 billion, printed out of thin air by Powell and his cronies and exacerbating our already 40-year high inflation, to the corrupt Zelensky so he can buy U.S. arms, is an act of war. I wonder if the “Big Guy” will get his 10%. Calling for the overthrow of a world leader, who has 6,000 nuclear weapons at his disposal, is a reckless act of war. This isn’t a video game, where you get to start over if you make the wrong move. This game of Risk could end life on this planet as we know it if someone makes the wrong move. Fourth Turnings have a life of their own, with the generational juxtaposition driving events towards conflict rather than towards a negotiated resolution. The Prophet Generation leaders are sure of themselves, even when the facts argue against their plans. They will plunge forward, as their arrogance and self-absurdness convince them they are destined to achieve immortality in history books as the leader who changed or saved the world. We are in the midst of an era where events are being orchestrated by evil men whose agendas, while not totally coordinated, all coalesce around a future world of authoritarian domination by the few and passive subjugation by the many. It is clear Gates and Clinton are active conspirators in the Great Reset scheme being implemented by the billionaire global oligarchs. Trump is an enigma, as his rhetoric appears to be against these forces of evil, but his actions speak otherwise. His assessment and selection of key personnel, endorsement of candidates, and continued full throated support of the blood clot inducing Big Pharma experimental gene therapies that don’t keep you from catching or transmitting a low-risk flu, classifies him as either a clueless dupe or just controlled opposition, paid to keep half the masses distracted from their conspiracy to implement their Build Back Better New World Order. His actions in not doing everything in his power to free the January 6 hostages, rotting in government dungeons, passive support for Biden’s reckless Ukraine provocations, and endorsement of left wing lunatics like Oprah talk show host and Turkish citizen Mehmet Oz for Senate in a state where he doesn’t reside, prove his true colors. A Trump victory in the 2024 presidential election would ensure a chaotic whirlwind of domestic violence as a likely global conflict would already be underway. Is Putin the world’s last hope in derailing the WEF Great Reset agenda or is he just playing his part in enslaving the global population in squalor and debt within a techno-gulag dystopian surveillance federation, where you will own nothing and be happy while your overlords own everything and dole out your rations depending upon your level of subservience? Even though there have been tenuous links between Putin and the WEF globalist cabal, the reaction of these globalists to his military operation reveals he is not on their side. The U.S. controlled NATO has been slowly encircling Russia with missiles and the imminent admission of Sweden and Finland will put their missiles on Putin’s doorstep. Putin and his closest advisors are clear headed and understand the stakes, as stated by Dimitry Medvedev: “The pumping of Ukraine by NATO countries with weapons, the training of its troops to use Western equipment, the dispatch of mercenaries and the conduct of exercises by the countries of the Alliance near our borders increase the likelihood of a direct and open conflict between NATO and Russia instead of their ‘war by proxy. Such a conflict always has the risk of turning into a full-fledged nuclear war. This will be a disastrous scenario for everyone.” – Dimitry Medvedev – Former Russian President It appears this showdown between the failing and flailing American Empire and Putin will be the existential clash of this Fourth Turning. There is one certainty. Putin will not accept defeat in Ukraine. He plans to attain his objectives, whatever the cost. If the U.S. and NATO are foolish enough to directly intervene, they risk confirming Robert Oppenheimer’s lament – “Now I am become Death, the destroyer of worlds”. Putin has seen the writing on the wall since the 2014 U.S. orchestrated coup d’état and has shown tremendous restraint in his response. His Ukraine invasion has been targeted on military objectives, making all efforts to avoid civilian casualties. The Russian military is methodical, efficient, and boring, as opposed to the Shock & Awe U.S. military that has failed miserably at achieving their objectives for 20 years. The false flag Ukrainian attempts to create atrocity narratives have failed pathetically. But Putin’s restraint should not be mistaken for weakness. He is a man of his word, not one of Biden’s bloviating apparatchiks who got their job based on race, sex, or wokeness credentials. He means what he says and is willing to back up his words with actions. “If someone intends to intervene in the ongoing events from the outside and create strategic threats for Russia that are unacceptable to us, they should know that our retaliatory strikes will be lightning-fast. We have all the tools for this, and we will use them if necessary. And I want everyone to know that.”  – Vladimir Putin – April 28, 2022 There is no doubt in my mind Putin will be the most impactful of the Gray Champions over the last several years of this Crisis. The other Gray Champion who has been biding his time and generally keeping a low profile is Xi Jinping. Like Putin, a dictator for life, he can play the long game, while the U.S. fiddles and burns. He has refused to condemn Putin’s invasion and is tacitly supporting Russia by purchasing their oil and wheat, sanctioned by the West. He is also learning the U.S. and the EU are paper tigers, bogged down by immense levels of debt, vacuous leadership, a willfully ignorant populace, and militaries focused on wokeness rather than preparation for war. He continues to rattle his sword towards Taiwan, probing and testing the U.S. reaction. Xi’s aspiration is for China to dominate the 21st Century and he is applauding the foolishness of the American Empire in its death throes as it accelerates its fall by seeing its currency and military domination degraded rapidly. Xi is a serious man, on par with Putin, when it comes to tenaciously implementing his agenda. Both Russia and China have major demographic issues and as dictators, they always have the possibility of being overthrown by an internal adversary. Human rights, gender inclusivity, and choosing preferred pronouns are not high priorities for these men. Xi has been rapidly building up his military, using the hundreds of billions the U.S. has supplied buying their cheap crap for decades. China’s CCP has infiltrated American universities and stolen our technological innovations, bribing corrupt politicians, greedy corporate CEOs, spineless college administrators, and our dishonest whore media, to gain control over key aspects of our economic system. They are truly the enemy within. And the Biden crime family is beholden to both China and Ukraine. Xi played Trump like a fiddle, pretending they were personal friends and making promises he never intended to keep, as shown by our trade deficit with China up 30% from 2021 and on-track to reach an all-time high over $450 billion in 2022. Both Putin and Xi see the deterioration, degradation, and unseriousness of those steering the American ship of state into a sea of icebergs. They witness the bumbling fool of a president on a daily basis and the dimwitted sycophants running his administration behind the curtain. It would be comical if these amateurs weren’t in the process of tearing the fabric of American society to shreds, while simultaneously pushing the world into a global conflict in which the likelihood of nuclear confrontation grows by the day. Xi most certainly plans to enact a takeover of Taiwan when he believes the U.S. is too distracted, militarily stretched and bogged down in their European misadventure. Biden has already pushed Russia and China closer, along with India, while the majority of the world supports Russia in this conflict. You will not hear that from the U.S. media, but it is a fact. The U.S. Empire is not loved by the rest of the world. It has been feared, because if you stepped out of line in honoring the USD for all obligations you were summarily bombed into oblivion or cut off from the billions in “foreign aid” (aka bribes) doled out by American politicians. None of the foreign aid ever aids the people of those countries. It aids corrupt foreign leaders, arms dealers, and politicians who have a portion of the funds funneled back into their pockets. It has worked like a charm for decades, but these arrogant psychopaths went too far this time with their Covid scheme, unleashing a tsunami of inflation and destroying the just in time global supply chain they created when they sold off our manufacturing to China. The horrific reported inflation of 8.3% is really 17%, if measured as it was during Paul Volcker’s reign as Federal Reserve Chairman. Of course, he took the courageous action of raising rates to 20% in order to crush it and succeeded. The cowardly Powell has rates under 1% and will do as he is told by his globalist overlords, destroying our economy so the Great Reset can move forward unabated. History seems to be accelerating, with major developments and sudden turns every few weeks. False narratives and engineered distractions (Ukraine war, leaked abortion ruling, covid variant of the month) are designed to divert your attention from the collapse of our economy and financial markets. No one is really in control, though there are many egomaniacal self-absorbed despots who believe they can alter the course of history in the direction they choose. Klaus Schwab, Bill Gates, and the rest of the World Economic Forum authoritarian evil globalist purveyors of real disinformation want to destroy our way of life so they can implement the way of life they want us to have – owning nothing, eating bugs, obeying their commands, under constant technological surveillance, and in constant fear of being turned in if they voice dissent. Essentially, they want to impose a techno-fascist global regime upon the masses. Those pulling the strings know the jig is up. They’ve played the debt card to the hilt. It began to unravel in September 2019 when the repo market cracked. Everything since has been part of their exit strategy plan. They know the house of cards is about to come crashing down and are attempting to pull off a controlled demolition in which they retain their wealth, power, and control. Of course, their hubris will ultimately lead to their downfall, as the world is too complex, has too many variables to control, and their malevolent machinations will blow up in their faces and possibly blow up the entire world. As we see shortages of baby formula, eggs, wheat, fertilizer, diesel fuel, high tech equipment, vehicles, along with open borders allowing hordes of illegals to pour into the country, and Democrat run urban enclaves encouraging murder and mayhem, all created by purposeful decisions made at the highest levels of government and funded by the likes of Soros and Gates, you can’t help but recognize their real goal is to destroy this country. We’ve reached the point Frank Zappa warned us about a few decades ago. “The illusion of freedom will continue as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.” – Frank Zappa I understand what they are trying to accomplish. With little food or fuel, and less than 1% of the population able to grow their own food to sustain themselves, the Build Back Better oligarchs expect the masses to beg them to be saved. This is where the WEF slogan, “You will own nothing and be happy” comes to fruition. You will be doled out a food ration, work menial jobs, live a squalid existence, use their global digital currency, and try to maintain a high social credit score so you are not ostracized and condemned to the gulag, or worse. The world is highly complex, and the best laid plans of these psychopaths are likely to go awry. I don’t believe they can pull off this controlled demolition without unleashing a myriad of unintended consequences. There is a pugnacious, heavily armed minority who will refuse to bend the knee to the arrogant, soft, egg head billionaires like Gates. His man boobs and pot belly don’t inspire admiration from average hard working blue collar man. A motivated minority of skilled freedom minded patriots can cause a multitude of problems for globalist totalitarians. I also believe Putin and Xi are roadblocks to the WEF agenda, explaining the fawning over failed comedic actor Zelensky and his invitation to speak at Schwab’s annual World Economic Forum. The course of this Fourth Turning now hinges upon the actions of Putin and Xi in response to the threats and warlike actions being taken by an American Empire desperately clinging to the mantle as the dominant world power. In theory I understood this Fourth Turning would ultimately lead to a bloody global conflict, but a few years into this Crisis I didn’t visualize a scenario which would lead to such an outcome. Each Fourth Turning has seen an exponential increase in deaths, as the killing technology has improved. There were approximately 65 million deaths during World War II, with Russia incurring 27 million of those deaths. That means approximately 3% of the global population were killed during the last Fourth Turning. Over 4% of the U.S. male population was killed during the Civil War. A similar death toll percentage today would exceed 250 million people. With the killing technology available today to men of dubious intellect and malicious motives, the potential loss of life could exceed our worst nightmares. I hoped for a less dismal route for this inevitable Crisis, but we are now careening towards our own rendezvous with destiny. On the current trajectory, we are running out of time on the Doomsday Clock. Strauss and Howe laid out four potential outcomes, which I have presented many times before in previous articles. Three of the four are not positive. If you asked me a few years ago, I would have selected outcome three as the most likely, as the American Empire died with a whimper, much like the British Empire after World War II. Now I realize outcomes three and four are highly unlikely. I believe outcome two is inevitable, as the dominant nation (America) has chosen to take a course which will engulf the planet in a war with an unknowable outcome. Once war starts on a grand scale, it could spin out of control and result in outcome number one. We can only hope cooler heads will prevail, but observing what is considered leadership in this day and age, I’m not optimistic. This Fourth Turning could mark the end of man. It could be an omnicidal Armageddon, destroying everything, leaving nothing. If mankind ever extinguishes itself, this will probably happen when its dominant civilization triggers a Fourth Turning that ends horribly. For this Fourth Turning to put an end to all this would require an extremely unlikely blend of social disaster, human malevolence, technological perfection, and bad luck. The Fourth Turning could mark the end of modernity. The Western saecular rhythm – which began in the mid-fifteenth century with the Renaissance – could come to an abrupt terminus. The seventh modern saeculum would be the last. This too could come from total war, terrible but not final. There could be a complete collapse of science, culture, politics, and society. Such a dire result would probably happen only when a dominant nation (like today’s America) lets a Fourth Turning ekpyrosis engulf the planet. But this outcome is well within the reach of foreseeable technology and malevolence. The Fourth Turning could spare modernity but mark the end of our nation. It could close the book on the political constitution, popular culture, and moral standing that the word America has come to signify. The nation has endured for three saecula; Rome lasted twelve, the Soviet Union only one. Fourth Turnings are critical thresholds for national survival. Each of the last three American Crises produced moments of extreme danger: In the Revolution, the very birth of the republic hung by a thread in more than one battle. In the Civil War, the union barely survived a four-year slaughter that in its own time was regarded as the most lethal war in history. In World War II, the nation destroyed an enemy of democracy that for a time was winning; had the enemy won, America might have itself been destroyed. In all likelihood, the next Crisis will present the nation with a threat and a consequence on a similar scale. Or the Fourth Turning could simply mark the end of the Millennial Saeculum. Mankind, modernity, and America would all persevere. Afterward, there would be a new mood, a new High, and a new saeculum. America would be reborn. But, reborn, it would not be the same. I’ve always preached preparedness and combining forces with like-minded people, but can you really prepare for a world where outcome one or two is the climax of this Fourth Turning? I know many bloggers make money off of doom, but I simply cannot conceive of a positive outcome based on the current dynamics driving the world towards war. I’d love to give a Knute Rockne speech to inspire the team to rally around someone who can lead us to victory. But all I see are monkeys with matches in a room full of dynamite. It’s only a matter of time until it explodes. The decline of an empire is awful to watch and even worse to live through. I wish you Godspeed and thank you for reading my ramblings. I hope I’m wrong. *  *  * The corrupt establishment will do anything to suppress sites like the Burning Platform from revealing the truth. The corporate media does this by demonetizing sites like mine by blackballing the site from advertising revenue. If you get value from this site, please keep it running with a donation. Tyler Durden Tue, 05/17/2022 - 23:45.....»»

Category: dealsSource: nytMay 18th, 2022Related News

Live updates: Rep. Madison Cawthorn dramatically loses seat as Pennsylvania and North Carolina ballots are counted

Senate seats in contention, Rep. Madison Cawthorn loses in North Carolina and a GOP face-off in Pennsylvania to run for US Senate. North Carolina GOP Rep. Madison Cawthorn lost his seat in a primary on Tuesday.Saul Loeb - Pool/Getty ImagesWelcome to the Insider live blog for the May 17 primaries.Polls close, wrapping up an evening of primariesIdaho Gov. Brad Little.Darin Oswald/Idaho Statesman/Tribune News Service via Getty ImagesPolls are closed everywhere in the country, wrapping up an evening of primaries in states all over the US. The final results will come in Idaho, which just closed its last polls, and Oregon, which votes entirely by mail. The final race that will determine former President Donald Trump's status as kingmaker in the Republican party is in Idaho. There, Incumbent Gov. Brad Little is facing a primary challenge from his own Lieutenant Governor Janice McGeachin, whom Trump endorsed. Oregon has an open primary for governor after the current governor, Democrat Kate Brown, is term limited out. US House seats are also up for grabs, with tensions growing between centrist and progressive Democrats in the House. Follow along to see the results of the races for gubernatorial nominations and congressional seats in Oregon, and for the governor's race in Idaho. - Kimberly Leonard Meet the man who just took down Rep. Madison CawthornChuck Edwards, a North Carolina state senator, defeated freshman GOP Rep. Madison Cawthorn on Tuesday.Camila DeChalus/InsiderTake a look at this Insider profile of state Sen. Chuck Edwards, the Republican who just unseated Rep. Madison Cawthorn in North Carolina's 11th Congressional District.Senior Reporter Camila DeChalus traveled to Hendersonville and spoke with the state senator in May to learn more about the rising star in North Carolina. She found the antithesis of Cawthorn in Edwards: a candidate lacking his rival's hyperbolic bravado and a scant social media presence.When DeChalus asked about Cawthorn's plethora of recent controversies, Edwards told her that "it's obvious that he [Cawthorn] got caught up in political stardom and turned his back on the people in these mountains."He said that his "qualms with Madison Cawthorn are based on his performance and his poor attendance record in Congress."— By Madison HallBiden lauds Fetterman's Pennsylvania Senate nominationPresident Joe Biden hadn't said anything about the Pennsylvania Senate race — until John Fetterman won the Democratic nomination.AP Photo/Carolyn KasterPresident Joe Biden finally has something to say about Pennsylvania's Democratic Senate race.Lt. Gov. John Fetterman is projected to be the Democratic Party's nominee in what will be one of the nation's closest watched Senate races, Decision Desk HQ projects.Unlike his predecessor, Biden loathes to weigh in on contested party primaries. It didn't help matters that the Delawarian president who never forgets his Scranton roots encountered a race with three big names in Pennsylvania politics: Fetterman, Rep. Conor Lamb, and state-Sen. Malcolm Kenyatta.Lamb and Kenyatta were close Biden allies. Biden bestowed one of his highest compliments on Lamb, saying that the young former Marine reminded him of his son Beau Biden when Lamb's 2018 special election attracted national attention. While Kenyatta was a key Biden surrogate and was among a group of rising stars that spoke during the 2020 Democratic National Convention's keynote address."Democrats are united around John, who is a strong nominee, will run a tough race, and can win in November," Biden said in a statement.— By Brent D. GriffithsA legislative leader and TikTok star is headed to Congress from KentuckyMorgan McGarvey, Kentucky's state Senate minority leader, is a TikTok star.Timothy D. Easley/AP PhotoKentucky's state Senate minority leader Morgan McGarvey, who won the Democratic primary to succeed retiring Rep. John Yarmuth in the safely Democratic, Louisville-based 3rd Congressional District, will also bring some TikTok starpower to Congress. McGarvey and his colleague, Sen. Reginald Thomas, currently boast nearly 130,000 followers on the @kysenatedems account. That's where the two use TikTok trends to document their daily lives in the state legislature and the woes of being in the superminority, including a video of Thomas doing the "Rick & Morty" trend in front of the state Senate chamber that eaned 5.7 million views.McGarvey is likely to also be in the minority in Congress, but at least he can give his colleagues some TikTok pointers. -Grace Panetta Rep. Madison Cawthorn losesRep. Madison Cawthorn, R-N.C.House Television via APControversial GOP Rep. Madison Cawthorn is projected to lose his re-election campaign in the face of fierce opposition from his fellow North Carolina Republicans.State-Sen. Chuck Edwards is projected to win the race, per Decision Desk HQ. Sen. Thom Tillis endorsed Edwards, a sign of just how much fellow elected Republicans rebelled against Cawthorn.Cawthorn courted controversy even before his election. But the 26-year-old finally hit a nerve on Capitol Hill when he suggested on a podcast that there were illicit sex and drug-filled parties in Washington. House Minority Leader Kevin McCarthy said publicly that Cawthorn had lost his trust. Tillis came off the sidelines and pushed hard for Edwards' campaign. And the rest is now history.— Brent D. GriffithsNorth Carolina GOP Senate candidate Ted Budd and Donald Trump.Chris Seward/AP PhotoFormer President Donald Trump's endorsement of Republican Rep. Ted Budd was likely crucial in helping the two-term lawmaker clinch the GOP nomination for US Senate on Tuesday, despite a crowded field of contenders. But Budd too has been decidedly Trumpian in the types of legislation he has introduced while in Congress. In April, for example, he introduced the Build the Wall Now Act to have the federal government continue constructing the border wall between the US and Mexico that was started under Trump and that President Joe Biden paused by executive order. Budd also introduced the Justice for Victims of Sanctuary Cities Act of 2021, which would allow people to sue cities if someone unauthorized to be living in the US committed a crime against them. While in office, Trump targeted sanctuary cities that are often led by Democrats and that sheltered migrants against federal crackdowns on illegal immigration. On education, Budd introduced a bill to recreate Trump's 1776 Commission, which was disbanded under Biden. Members of the conservative commission had created a 45-page document that aimed to promote a "patriotic education," and was intended as a rebuttal to the New York Times' 1619 Project. Budd's Freedom from Regulations Act, introduced in 2021, echoed a Trump-era executive order that called for trashing two regulations every time the administration created a new one. — Kimberly LeonardClay Aiken on track to lose, Decision Desk HQ projectsAmerican Idol star Clay Aiken is headed for defeat in his race for a US House seat in North Carolina.Vince Bucci/Getty ImagesClay Aiken is currently running third in the race for the Democratic nomination for North Carolina's 4th Congressional District. State-Sen. Valerie Foushee is already projected to have won the nomination. Long-time incumbent Rep. David Price, a Democrat, previously announced his retirement after over 30 years in Congress.Aiken won his party's 2014 nomination but later lost the general election to then-Rep. Renee Ellmers. The 2003 American Idol runner-up decided to give it another go this cycle.Since American Idol, Aiken launched a private foundation and starred on Broadway in the Monty Python-inspired "Spamalot."Daily Kos Elections joked on Twitter that now it can no longer be said that Aiken finishes second in everything. Outside of elections, Aiken finished as the runner-up on 2012's edition of the Celebrity Apprentice when it was still hosted by then-future President Donald Trump.— Brent D. GriffithsDoug Mastriano, a Pennsylvania state senator, is the Republican nominee for governor.Carolyn Kaster/AP PhotoDoug Mastriano is the winner of the Republican primary in the Pennsylvania gubernatorial race, according to DDHQ and Insider.— Madison HallFetterman's turn in the Insider spotlightJohn Fetterman on the Senate campaign trial in May 2022.Keith Srakocic/AP PhotoCheck out this Insider profile of John Fetterman, the Democratic nominee for the US Senate from Pennsylvania. In November 2020, Insider's Charles Davis interviewed Fetterman about his journey from being largely apolitical, to being elected mayor of Braddock, Pennsylvania, in 2005, to being branded a rising Democratic star.Fetterman told Insider that he doesn't think that Democrats can't reach Trump voters. "If we're going to reverse the fortunes of not only our party but, most importantly, communities and regions, [we need to be] reinvesting and acknowledging that these places deserve to be championed," Fetterman said."There's certainly unreachable people," he said. "I think it's people reacting to a level of authenticity or rawness. You're not going to convince me that Pennsylvania changed radically from Barack Obama to Donald Trump."— Sarah GrayMehmet Oz: Not in it for the moneyMehmet Oz would earn $174,000 if he becomes a US senator.Matt Rourke/APIf Donald Trump endorsee Mehmet Oz win's tonight's US Senate primary in Pennsylvania, then defeats the Democratic nominee in November, he'll earn a standard congressional salary, which today stands at $174,000.Not bad, no, but it's peanuts compared to what he's been making in the private sector — or perhaps pistachios, given that Oz scored a cool $125,000 for a one-day speech to the American Pistachio Growers Association in March 2020, according a federal financial disclosure Oz submitted to the Senate in April.For hosting quiz show Jeopardy! during a two-week stint in late March and early April 2021, Oz earned $268,701, records show.And that's all before you consider his former day job: Oz reported earning more than $7 million from "income derived from ownership interest in Oz Media LLL through Oz Property Holdings." He also received a $2 million salary for hosting the "Dr. Oz Show."Oz is also an active stock trader, reporting sizeable investments in companies such as Amazon, Apple, Microsoft, defense contractor Northrop Grumman, and drugmaker Johnson & Johnson, among several dozen others. — Dave LevinthalFetterman wins Pennsylvania Democratic senator nominationJohn Fetterman, left, is the Democratic nominee for the Pennsylvania US Senate seat.Keith Srakocic/AP PhotoJohn Fetterman is the winner of the Democratic primary race for Pennsylvania's US Senate seat. That's the call from Insider and DDHQ. Fetterman, currently the state's lieutenant governor, defeated Rep. Conor Lamb, Malcolm Kenyatta, and Alexandria Khalil. Fetterman is currently recovering from a recent stroke and announced on Tuesday that he had received a pacemaker implant.A pricey house race to watch near Pittsburgh: PA-12Sen. Bernie Sanders endorsed Pennsylvania state Rep. Summer Lee in her bid to win the nomination for the state's 12th congressional district.Rebecca Droke/AP PhotoWith the retirement of GOP Rep. Fred Keller, this district outside of Pittsburgh in the Susquehanna Valley is a potential pickup opportunity for Democrats.It's also a race that was looking pretty stale until the past few weeks. The frontrunner, state Rep. Summer Lee, has endorsements from Emily's List and Justice Democrats. Sen. Bernie Sanders recently stumped for her and she seemed to have everything going in her favor until a ton of money started pouring into the race. The American Israel Public Affairs Committee, most commonly referred to as AIPAC, has been funding ads through a new Super PAC called the United Democracy Project for Lee's opponent, Steve Irwin. Lee would be the latest in a new generation of Democrats in Washington with positions further to the left than most of the caucus, as well as more critical views of Israel. Should Irwin pull out a victory, his surge couldn't have been hurt by the AIPAC ad spree, but Lee remains the favorite. The Republican primary has been more quiet, with Michael Doyle — unrelated to retiring Rep. Mike Doyle — running unopposed.— Jake LahutPennsylvania's US Senate race is stupid expensivePennsylvania Republican Senate Candidate Mehmet OzAlexi Rosenfeld/Getty ImagesThe government of Erie, Pennsylvania, population 94,831, forecasts that it'll bring in about $95.7 million worth of revenue during 2022.Pennsylvania's US Senate race, meanwhile, is on pace to bring in twice that — maybe even more — en route to competing for the crown of the year's most expensive political race.As of April 27, the race had already attracted more than $68.3 million in contributions, according to federal records compiled by nonpartisan research organization OpenSecrets.There are two overriding reasons for this. First, both the Republican and Democratic primaries are highly competitive. They feature multiple candidates — David McCormick, Mehmet Oz and Kathy Barnette on the right, John Fetterman and Conor Lamb on the left. More candidates + more competition = more, more, more money.Second, McCormick and Oz are extremely wealthy. Both have pumped millions of dollars of their personal money into the race, with Oz alone accounting for more than $12 million, according to Federal Election Commission records. McCormick, at $11 million, isn't far behind.Tonight's winners will then have nearly six months to slug each other ahead of November's general election. National party committees and super PACs, which may raise and spend unlimited amounts of money, will almost assuredly supplement the candidates' own fundraising efforts with tens of millions of more dollars.— Dave LevinthalPolls in Pennsylvania closed at 8 p.m. ET.InsiderFollow along to see the results for the Republican and Democratic  candidates for governor, the US Senate, House from the Keystone State.Madison Cawthorn's cryptic crypto play may have violated the STOCK ActMadison Cawthorn, Republican nominee for North Carolina's 11th Congressional District, speaks during the largely virtual 2020 Republican National Convention broadcast from Washington, on August 26, 2020.2020 Republican National Convention/Handout via ReutersRep. Madison Cawthorn has plenty of problems — ones involving guns, money, cocaine orgies, and a nude video, to name four.One that's flying a bit below the radar, but still serious: he may have violated a federal conflicts-of-interest law by not publicly reporting his stated purchase in a cryptocurrency named for an anti-Joe Biden slogan.Per federal law, Cawthorn had 45-days to formally disclose details about his crypto play. But as of this evening, Cawthorn had done no such thing, and his campaign and congressional office have not responded to Insider's questions as to why.Failure to properly report such financial transactions can result in a fine administered by Congress, or in extreme cases, a referral to the Department of Justice.— Dave LevinthalTed Budd wins GOP Primary for open Senate seatFormer President Donald Trump endorsed Rep. Ted Budd of North Carolina in the 2022 North Carolina Senate race.AP Photo/Chris SewardRepublican Ted Budd will face off against Democrat Cheri Beasley for a crucial open US Senate seat in North Carolina, Insider and Decision Desk HQ project. Budd is a Republican congressman who was endorsed by President Donald Trump, and easily cleared a field of GOP opponents. Beasley, the former chief justice of the North Carolina Supreme Court, is hoping to flip control of the seat currently held by retiring GOP Sen. Richard Burr.Mayoral MayhemCharlotte, NCShutterstockA Republican hasn't been the mayor of Louisville, Kentucky, for more than 50 years. Four Republican candidates are hoping to change that, including Bill Dieruf, the current mayor of Jeffersontown, a nearby suburb. The current mayor of Lexington, Kentucky's second-largest city, Linda Gorton, is running for reelection. Gorton's opponents recently chided her at a public forum over housing costs and crime rates. She countered by noting that she rose to the occasion when challenges surfaced in Lexington during her time in office, particularly during the pandemic.In Charlotte, North Carolina, Democratic Mayor Vi Alexander Lyles is vying for another term in office. Lyles became the first Black mayor in Charlotte history in 2017 after unseating the incumbent mayor. She's facing off against three other Democratic candidates tonight.You can check out and follow the three mayoral primaries here.—Madison HallJohn Fetterman gets pacemakerIn this Sept. 21, 2018 photo, former Braddock, Pa., Mayor John Fetterman speaks at a campaign rally for Pennsylvania candidates in PhiladelphiaAP Photo/Matt RourkePennsylvania Lt. Governor John Fetterman "just completed a successful procedure to implant a pacemaker with a defibrillator," his communications director, Joe Calvello, said in a statement Tuesday evening. "The procedure began at 3:15 pm, John was released at 5:56 pm, and he has been given the all-clear that it was successful. He is resting at the hospital and recovering well. John continues to improve every day, and he is still on track for a full recovery."Fetterman, who is running for the US Senate in Pennsylvania in tonight's Democratic primary, suffered a stroke last week.— Dave LevinthalResults just beginning to trickle in in KentuckyHouse Budget Committee Chairman John Yarmuth, D-Ky., talks with reporters after meeting with the House Democratic Caucus and Biden administration officials to discuss progress on an infrastructure bill, at the Capitol in Washington.J. Scott Applewhite/APPolls closed in Kentucky at 6 p.m. Eastern Time, and the results are beginning to come in. See results for the Senate, House and state legislative primaries here, and results for the mayoral elections in Louisville and Lexington here.The most notable primary race of the night is the Democratic primary in Kentucky's Third District to replace retiring Democratic Rep. John YarmuthA slew of Democratic candidates are seeking the nomination for the mayor's office in Louisville to replace term-limited outgoing Mayor Greg Fischer. Incumbent Mayor Linda Gorton is also seeking reelection to the mayor's office in Lexington, Kentucky in a nonpartisan primary. Democrats love Republican primaries — for fundraisingDemocratic Rep. Sean Patrick Maloney, DCCC Chair, at a press conference on Capitol HillBill Clark/CQ-Roll Call, Inc via Getty ImagesThe Democratic Congressional Campaign Committee is rarely immune to hyperbole or breathlessness. So it should perhaps come as little surprise how much the party's campaign arm for US House races is leveraging today's Republican Senate primary in Pennsylvania to raise cash for itself."Trump has already helped make J.D. Vance the Republican nominee in the critical Ohio Senate race. Now, he's scheming to do the same with Dr. Oz in the ultimate swing state of Pennsylvania … please understand: If Trump is able to pack Congress with his top loyalists, it could pave the way for his return to the White House," the DCCC wrote supporters.It continues: "And at this dire moment, you have two options: OPTION 1: Ignore our urgent pleas, delete this email, and watch while Trump destroys our House Majority and Democratic Trifecta with his dangerous followers. OPTION 2: Step up with a powerful grassroots gift before midnight to stop Trump's power-hungry schemes and protect our Democratic House."  — Dave LevinthalTight gubernatorial primary races in the Beaver State- Former Oregon House Speaker Tina Kotek, who is running for governor, poses for photos in Columbia Park in Portland, Ore., on Feb. 18, 2022. Oregon's primary elections are Tuesday, May 17, 2022.AP Photo/Sara Cline, fileDemocratic Gov. Kate Brown is finishing up her second term in office and cannot run again. After 35 straight years of having a Democrat as governor, Republicans in Oregon are hoping this is their year to regain executive power, but must figure out their nominee from a slate of 19 candidates led by former state Rep. Christine Drazan and businessman Bob Tiernan. With Brown term-limited, she leaves behind a wide-open Democratic field with 15 candidates. Two notable leaders on the Democratic ticket include Oregon Treasurer Tobias Read and former House Speaker Tina Kotek.The list of Democratic primary contenders used to be longer — former New York Times columnist Nick Kristof left his job to explore running for office in October 2021. Oregon's Supreme Court ultimately ruled in February that he couldn't be on the ballot, citing his failure to meet the three-year residency requirement to qualify.— Madison HallEmbattled Rep. Madison Cawthorn fights for a second term after a slew of scandalsU.S. Rep. Madison Cawthorn, R-N.C., waves to the crowd after he spoke before former President Donald Trump takes the stage at a rally on April 9, 2022, in Selma, NC.Chris Seward/APCawthorn catapulted into rising star status in the GOP when he was elected to Congress from North Carolina's 11th District in 2020 at age 25. But a series of ethics troubles, and explosive comments have infuriated his GOP colleagues and spurred some to openly root for his ouster, as Michael Kruse recently dug into for Politico Magazine. Our Camila DeChalus reported from Hendersonville earlier this month on Cawthorn's leading primary challenger, state Sen. Chuck Edwards, voters' mixed feelings about Cawthorn's scandals, and the former volunteers who have buyer's remorse. A split field of seven primary challengers could help Cawthorn squeak by to reelection, but he could head to a July 26 runoff if no one gets about 30% of the vote. — Grace PanettaWould you pay $1 million out-of-pocket for a US Senate seat?McCormick received more than $70 million in discretionary awards connected to a Bridgewater Associates plan.Divorce agreement between David McCormick and Amy RichardsonAs C. Ryan Barber and Adam Wren reported earlier this year, divorce documents obtained by Insider indicate that Republican US Senate candidate David McCormick could face such a situation — if he's first able to survive his Pennsylvania primary battle against Mehmet Oz and Kathy Barnette.As Barber and Wren wrote: "McCormick's divorce agreement includes a clause stipulating that he would pay his ex-wife $1 million if he voluntarily left his lucrative position at Bridgewater Associates for the 'public domain.' The agreement between McCormick and his ex-wife, Amy Richardson, defined 'public domain' as employment in 'any government entity' and required him to pay the seven-figure sum in a pair of $500,000 installments in the first two years of any full-time public sector job.Once the frontrunner, McCormick has slipped in the polls of late and could conceivably finish third. Former President Donald Trump has endorsed Oz, the longtime television show host, while Barnette has surged as a MAGA-friendly alternative to both Oz and McCormick. — Dave LevinthalOz, Barnette, and McCormick jockey in a close race in PennsylvaniaPennsylvania Republican Senate candidate Kathy Barnette speaks during a campaign rally at The Fuge in Warminster, Pennsylvania.Photo by Michael M. Santiago/Getty ImagesWe went to Pennsylvania earlier this month and found a lot of Trump voters who were pretty unhappy with Dr. Mehmet Oz as the former president's endorsement. Kathy Barnette has had an impressive surge late in the race, but the conservative author's background is now the subject of considerable scrutiny and has some Republicans worried she'd get beat by the Democrats should she make it to the November general election. No doubt, a victory for Barnette would be a big shock. But she's been within striking distance in all the latest polls. The candidate hoping to get a bump from undecideds is former hedge fund CEO David McCormick, who has picked up endorsements from the likes of Sen. Ted Cruz and former Secretary of State Mike Pompeo.– Jake LahutRead the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

Live updates: Polls are closed in crucial primaries in Pennsylvania, North Carolina

Senate seats in contention, Rep. Madison Cawthorn facing primary challenges in North Carolina and a GOP face-off in Pennsylvania to run for US Senate. Mehmet Oz (left) is in a tight race for the GOP nomination in a Pennsylvania Senate race while Rep. Madison Cawthorn is fending off primary challenges in North Carolina on Tuesday.Jeff Swensen/Getty Images; Anadolu Agency/Getty ImagesWelcome to the Insider live blog for the May 17 Primaries. We've got a number of great races tonight going coast to coast in the United States, but here are the ones we're really watching:Pennsylvania's got an open Senate seat this cycle, and this swing state will be the site of the marquee race for 2022 to decide the fate of the Senate.North Carolina is another massive Senate race, but the real action is going on in Rep. Madison Cawthorn's district, as the power in the local GOP wants to oust the controversial freshman and replace him with a less scandal-prone representative. In Oregon, a Democratic gubernatorial primary might very well decide the presumed winner of the election in this deep blue state.— Walt HickeyA pricey house race to watch near Pittsburgh: PA-12Sen. Bernie Sanders endorsed Pennsylvania state Rep. Summer Lee in her bid to win the nomination for the state's 12th congressional district.Rebecca Droke/AP PhotoWith the retirement of GOP Rep. Fred Keller, this district outside of Pittsburgh in the Susquehanna Valley is a potential pickup opportunity for Democrats.It's also a race that was looking pretty stale until the past few weeks. The frontrunner, state Rep. Summer Lee, has endorsements from Emily's List and Justice Democrats. Sen. Bernie Sanders recently stumped for her and she seemed to have everything going in her favor until a ton of money started pouring into the race. The American Israel Public Affairs Committee, most commonly referred to as AIPAC, has been funding ads through a new Super PAC called the United Democracy Project for Lee's opponent, Steve Irwin. Lee would be the latest in a new generation of Democrats in Washington with positions further to the left than most of the caucus, as well as more critical views of Israel. Should Irwin pull out a victory, his surge couldn't have been hurt by the AIPAC ad spree, but Lee remains the favorite. The Republican primary has been more quiet, with Michael Doyle — unrelated to retiring Rep. Mike Doyle — running unopposed.— Jake LahutPennsylvania's US Senate race is stupid expensivePennsylvania Republican Senate Candidate Mehmet OzAlexi Rosenfeld/Getty ImagesThe government of Erie, Pennsylvania, population 94,831, forecasts that it'll bring in about $95.7 million worth of revenue during 2022.Pennsylvania's US Senate race, meanwhile, is on pace to bring in twice that — maybe even more — en route to competing for the crown of the year's most expensive political race.As of April 27, the race had already attracted more than $68.3 million in contributions, according to federal records compiled by nonpartisan research organization OpenSecrets.There are two overriding reasons for this. First, both the Republican and Democratic primaries are highly competitive. They feature multiple candidates — David McCormick, Mehmet Oz and Kathy Barnette on the right, John Fetterman and Conor Lamb on the left. More candidates + more competition = more, more, more money.Second, McCormick and Oz are extremely wealthy. Both have pumped millions of dollars of their personal money into the race, with Oz alone accounting for more than $12 million, according to Federal Election Commission records. McCormick, at $11 million, isn't far behind.Tonight's winners will then have nearly six months to slug each other ahead of November's general election. National party committees and super PACs, which may raise and spend unlimited amounts of money, will almost assuredly supplement the candidates' own fundraising efforts with tens of millions of more dollars.— Dave LevinthalPolls in Pennsylvania closed at 8 p.m. ET.InsiderFollow along to see the results for the Republican and Democratic  candidates for governor, the US Senate, House from the Keystone State.Madison Cawthorn's cryptic crypto play may have violated the STOCK ActMadison Cawthorn, Republican nominee for North Carolina's 11th Congressional District, speaks during the largely virtual 2020 Republican National Convention broadcast from Washington, on August 26, 2020.2020 Republican National Convention/Handout via ReutersRep. Madison Cawthorn has plenty of problems — ones involving guns, money, cocaine orgies, and a nude video, to name four.One that's flying a bit below the radar, but still serious: he may have violated a federal conflicts-of-interest law by not publicly reporting his stated purchase in a cryptocurrency named for an anti-Joe Biden slogan.Per federal law, Cawthorn had 45-days to formally disclose details about his crypto play. But as of this evening, Cawthorn had done no such thing, and his campaign and congressional office have not responded to Insider's questions as to why.Failure to properly report such financial transactions can result in a fine administered by Congress, or in extreme cases, a referral to the Department of Justice.— Dave LevinthalTed Budd wins GOP Primary for open Senate seatFormer President Donald Trump endorsed Rep. Ted Budd of North Carolina in the 2022 North Carolina Senate race.AP Photo/Chris SewardRepublican Ted Budd will face off against Democrat Cheri Beasley for a crucial open US Senate seat in North Carolina, Insider and Decision Desk HQ project. Budd is a Republican congressman who was endorsed by President Donald Trump, and easily cleared a field of GOP opponents. Beasley, the former chief justice of the North Carolina Supreme Court, is hoping to flip control of the seat currently held by retiring GOP Sen. Richard Burr.Mayoral MayhemCharlotte, NCShutterstockA Republican hasn't been the mayor of Louisville, Kentucky, for more than 50 years. Four Republican candidates are hoping to change that, including Bill Dieruf, the current mayor of Jeffersontown, a nearby suburb. The current mayor of Lexington, Kentucky's second-largest city, Linda Gorton, is running for reelection. Gorton's opponents recently chided her at a public forum over housing costs and crime rates. She countered by noting that she rose to the occasion when challenges surfaced in Lexington during her time in office, particularly during the pandemic.In Charlotte, North Carolina, Democratic Mayor Vi Alexander Lyles is vying for another term in office. Lyles became the first Black mayor in Charlotte history in 2017 after unseating the incumbent mayor. She's facing off against three other Democratic candidates tonight.You can check out and follow the three mayoral primaries here.—Madison HallJohn Fetterman gets pacemakerIn this Sept. 21, 2018 photo, former Braddock, Pa., Mayor John Fetterman speaks at a campaign rally for Pennsylvania candidates in PhiladelphiaAP Photo/Matt RourkePennsylvania Lt. Governor John Fetterman "just completed a successful procedure to implant a pacemaker with a defibrillator," his communications director, Joe Calvello, said in a statement Tuesday evening. "The procedure began at 3:15 pm, John was released at 5:56 pm, and he has been given the all-clear that it was successful. He is resting at the hospital and recovering well. John continues to improve every day, and he is still on track for a full recovery."Fetterman, who is running for the US Senate in Pennsylvania in tonight's Democratic primary, suffered a stroke last week.— Dave LevinthalResults just beginning to trickle in in KentuckyHouse Budget Committee Chairman John Yarmuth, D-Ky., talks with reporters after meeting with the House Democratic Caucus and Biden administration officials to discuss progress on an infrastructure bill, at the Capitol in Washington.J. Scott Applewhite/APPolls closed in Kentucky at 6 p.m. Eastern Time, and the results are beginning to come in. See results for the Senate, House and state legislative primaries here, and results for the mayoral elections in Louisville and Lexington here.The most notable primary race of the night is the Democratic primary in Kentucky's Third District to replace retiring Democratic Rep. John YarmuthA slew of Democratic candidates are seeking the nomination for the mayor's office in Louisville to replace term-limited outgoing Mayor Greg Fischer. Incumbent Mayor Linda Gorton is also seeking reelection to the mayor's office in Lexington, Kentucky in a nonpartisan primary. Democrats love Republican primaries — for fundraisingDemocratic Rep. Sean Patrick Maloney, DCCC Chair, at a press conference on Capitol HillBill Clark/CQ-Roll Call, Inc via Getty ImagesThe Democratic Congressional Campaign Committee is rarely immune to hyperbole or breathlessness. So it should perhaps come as little surprise how much the party's campaign arm for US House races is leveraging today's Republican Senate primary in Pennsylvania to raise cash for itself."Trump has already helped make J.D. Vance the Republican nominee in the critical Ohio Senate race. Now, he's scheming to do the same with Dr. Oz in the ultimate swing state of Pennsylvania … please understand: If Trump is able to pack Congress with his top loyalists, it could pave the way for his return to the White House," the DCCC wrote supporters.It continues: "And at this dire moment, you have two options: OPTION 1: Ignore our urgent pleas, delete this email, and watch while Trump destroys our House Majority and Democratic Trifecta with his dangerous followers. OPTION 2: Step up with a powerful grassroots gift before midnight to stop Trump's power-hungry schemes and protect our Democratic House."  — Dave LevinthalTight gubernatorial primary races in the Beaver State- Former Oregon House Speaker Tina Kotek, who is running for governor, poses for photos in Columbia Park in Portland, Ore., on Feb. 18, 2022. Oregon's primary elections are Tuesday, May 17, 2022.AP Photo/Sara Cline, fileDemocratic Gov. Kate Brown is finishing up her second term in office and cannot run again. After 35 straight years of having a Democrat as governor, Republicans in Oregon are hoping this is their year to regain executive power, but must figure out their nominee from a slate of 19 candidates led by former state Rep. Christine Drazan and businessman Bob Tiernan. With Brown term-limited, she leaves behind a wide-open Democratic field with 15 candidates. Two notable leaders on the Democratic ticket include Oregon Treasurer Tobias Read and former House Speaker Tina Kotek.The list of Democratic primary contenders used to be longer — former New York Times columnist Nick Kristof left his job to explore running for office in October 2021. Oregon's Supreme Court ultimately ruled in February that he couldn't be on the ballot, citing his failure to meet the three-year residency requirement to qualify.— Madison HallEmbattled Rep. Madison Cawthorn fights for a second term after a slew of scandalsU.S. Rep. Madison Cawthorn, R-N.C., waves to the crowd after he spoke before former President Donald Trump takes the stage at a rally on April 9, 2022, in Selma, NC.Chris Seward/APCawthorn catapulted into rising star status in the GOP when he was elected to Congress from North Carolina's 11th District in 2020 at age 25. But a series of ethics troubles, and explosive comments have infuriated his GOP colleagues and spurred some to openly root for his ouster, as Michael Kruse recently dug into for Politico Magazine. Our Camila DeChalus reported from Hendersonville earlier this month on Cawthorn's leading primary challenger, state Sen. Chuck Edwards, voters' mixed feelings about Cawthorn's scandals, and the former volunteers who have buyer's remorse. A split field of seven primary challengers could help Cawthorn squeak by to reelection, but he could head to a July 26 runoff if no one gets about 30% of the vote. — Grace PanettaWould you pay $1 million out-of-pocket for a US Senate seat?McCormick received more than $70 million in discretionary awards connected to a Bridgewater Associates plan.Divorce agreement between David McCormick and Amy RichardsonAs C. Ryan Barber and Adam Wren reported earlier this year, divorce documents obtained by Insider indicate that Republican US Senate candidate David McCormick could face such a situation — if he's first able to survive his Pennsylvania primary battle against Mehmet Oz and Kathy Barnette.As Barber and Wren wrote: "McCormick's divorce agreement includes a clause stipulating that he would pay his ex-wife $1 million if he voluntarily left his lucrative position at Bridgewater Associates for the 'public domain.' The agreement between McCormick and his ex-wife, Amy Richardson, defined 'public domain' as employment in 'any government entity' and required him to pay the seven-figure sum in a pair of $500,000 installments in the first two years of any full-time public sector job.Once the frontrunner, McCormick has slipped in the polls of late and could conceivably finish third. Former President Donald Trump has endorsed Oz, the longtime television show host, while Barnette has surged as a MAGA-friendly alternative to both Oz and McCormick. — Dave LevinthalOz, Barnette, and McCormick jockey in a close race in PennsylvaniaPennsylvania Republican Senate candidate Kathy Barnette speaks during a campaign rally at The Fuge in Warminster, Pennsylvania.Photo by Michael M. Santiago/Getty ImagesWe went to Pennsylvania earlier this month and found a lot of Trump voters who were pretty unhappy with Dr. Mehmet Oz as the former president's endorsement. Kathy Barnette has had an impressive surge late in the race, but the conservative author's background is now the subject of considerable scrutiny and has some Republicans worried she'd get beat by the Democrats should she make it to the November general election. No doubt, a victory for Barnette would be a big shock. But she's been within striking distance in all the latest polls. The candidate hoping to get a bump from undecideds is former hedge fund CEO David McCormick, who has picked up endorsements from the likes of Sen. Ted Cruz and former Secretary of State Mike Pompeo.– Jake LahutRead the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

How Technology Is Transforming Retirement Preparation

People often say it’s never too early to start when it comes to retirement planning. However, many individuals feel a bit taken aback by the overall process and find it overwhelming. Fortunately, just as technology has caused a revolution in many parts of society, it has similarly affected how people get ready for retirement. Here […] People often say it’s never too early to start when it comes to retirement planning. However, many individuals feel a bit taken aback by the overall process and find it overwhelming. Fortunately, just as technology has caused a revolution in many parts of society, it has similarly affected how people get ready for retirement. Here are some specific ways technology assists them and those specializing in financial planning. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more It Expands the Possibilities for Making Money The internet has significantly broadened and altered how people can make their incomes. Someone only needs a good connection to find work they can do from home. That might mean going onto an online job board and finding people willing to pay top dollar for your skills. It could also entail setting up an Etsy store, selling collectible items on eBay, or making small amounts of money by completing short, simple tasks for businesses. Many people pursue such possibilities because they want flexibility beyond what more conventional sources of income offer. However, others use side hustles to help them put aside more money for retirement. Some freelancers charge $100 per hour or more, depending on their specialties and the market demand. If you take a freelance role, you’re most likely self-employed and will need to periodically submit tax payments rather than having them taken out of your earnings. Earning money through a side project also gives you the freedom to capitalize on trends. Drone technology is one example of an area with numerous business opportunities. One market report expected this industry’s worth to climb from $8.5 billion to $12 billion between 2016 and 2021. You could take advantage of that progressively increasing interest by starting a business related to drones, such as one offering aerial photography or security. Online technology could help by enabling you to promote the company to a wider audience. Goal-Setting Helps Side Hustles Succeed The most appropriate way to use the internet to make money to put toward retirement depends on numerous factors, including your interests and abilities and the amount of time you can spend on the endeavor. However, in any case, it’s best to set some parameters for how you’ll use what you earn. You might decide that anything you earn on the side will go toward your retirement or that just a certain percentage will. Setting out those specifics from the start should help you stay committed. Another thing to be aware of is that it often takes longer than a person expects to make a business profitable. That’s why you may want to look for side hustles with few or no expenses at first. Launching a product-based business will likely mean you need to budget for supplies, shipping costs, and other essentials. However, your costs will probably be substantially lower if doing something like copywriting or transcription tasks. It Opens Opportunities for Automation Automation is like the internet in that it has been a game-changer for many industries and consumers. People using automated email platforms enjoy features that sort incoming messages by priority, sender, and message type. The tools used by many businesses allow workers to move away from tedious manual tasks and spend more time on highly rewarding activities. Automation is also starting to positively impact people interested in retirement planning and the professionals that assist them with it. However, it’s important not to view automated tools as replacements for humans but as additional options that might suit your retirement preparation needs. Additionally, people should not think of automation as a “set it and forget it” option. Most algorithms running these solutions are incredibly advanced, but they’re not guaranteed to be error-free. That’s why it’s smart to periodically monitor all settings and activities associated with financial automation. Then, you’ll have a better chance of catching anything amiss if it crops up. It’s also necessary to revisit any automated tools if your financial situation or goals change. Doing these simple things limits the possibility of surprises. Auto-Portability Could Reduce Cashouts Changing jobs could cut into your retirement savings, even if you don’t realize it at the time. U.S. federal law lets companies initiate mandatory distributions for people with retirement account balances of less than $5,000. Individuals have a set period to coordinate rollovers into a new employer’s plan in such cases. However, that process can be prohibitively complicated. Research indicated that more than 54% of workers with account balances under $5,000 chose to cash out those amounts rather than roll them over. However, doing that incurs penalties and taxes. People are increasingly advocating for auto-portability features built into employers’ retirement plans. In short, they would automatically transfer savings to new, active savings accounts in cases where the funds are subject to mandatory distributions. Some financial experts also believe the blockchain could be instrumental in helping people track their retirement accounts. Blockchain-based solutions may not be automated themselves, but they could complement others that are. For example, a person could use a blockchain tool to verify that an auto-portability tool worked as expected and that their funds are in the correct account. Robo-Advisers Provide Potential Investment Solutions So-called robo-advisers offer another possibility. Research from 2021 indicated that 3.5 million adults in the United States would try them that year. First, the customers that use them fill out a survey. Then, automated tools make investment decisions based on that data. Brian Walsh, a senior manager of financial planning at SoFi Technologies, said, “I think there’s value humans provide. But on the investment side, I think robos have a huge advantage in being cost-efficient.” Elsewhere, Vanguard polled 1,500 people to find out more about their loyalties regarding human-based and robo-advising methods. One of the survey questions asked participants to estimate their annual portfolio returns when using either a human adviser or an automated one. The people only using digital tools estimated returns of 24%. They also believed their returns would drop by 3% without using an automated advising platform. The customers who’d hired human advisers estimated their returns at 15% and perceived a 5% value-add to annual performance if they had not received that input. The results also showed that only 7% of people with human advisers would consider switching to an automated-only solution. It Provides Improved Visibility and Empowerment Even as people remain aware of their retirement years gradually nearing, many don’t take the necessary steps to get themselves as prepared as possible. As a case in point, a U.S Department of Labor study found that only 40% of Americans had calculated how much they’d need to retire. However, technology has made it extremely straightforward to figure out that all-important information with tools like free retirement calculators. These options vary slightly in how they work, but most give users an idea of how much they need to save per year to reach their goals by the time they retire. Calculators and similar tools can help people become more decisive about the specific things they do to plan for retirement. That’s useful since not all methods are equally lucrative. For example, high-yield savings accounts average just 3% in returns, while the stock market’s returns are often higher over time. Technology can help you make smarter financial decisions, even if you don’t plan to retire for decades. Some tools can track unusual changes in spending, such as if your cellphone bill is double the usual average amount. In such cases, you become alerted to possible issues so they don’t cause unforeseen problems. Other providers also sell specialized solutions that monitor for identity theft or other matters that could derail your retirement plans if left unchecked. Chatbots Make Investing More Accessible People often want to explore how investing could help them get closer to their retirement goals. However, they may fall short of those aspirations because investment opportunities seem out of reach. Some professionals in the retirement planning and investment world believe artificial intelligence (AI) and chatbots could break down some existing barriers. However, they wouldn’t necessarily make the automatic investment decisions like the previously described robo-advisers. Some chatbots might take questions on behalf of professionals who provide retirement planning services and are looking for new clients. They are already well-established options for supporting an organization’s customer service needs. Alternatively, they could provide answers to questions people might prefer posing to a chatbot. Employees at one retirement plan provider analyzed three years’ worth of questions customers asked the company’s chatbot. They categorized the queries to determine the most common reasons individuals utilized the service. The results showed that matters related to 401(k) plans were the most frequent, which was somewhat of a surprise. Grant Easterbrook is a co-founder of Dream Forward Solutions, which offered the chatbot. He said, “We assumed a lot of the questions the AI would get would be around investing, financial concerns, and priorities. Actually, the complexities and headaches of managing your own 401(k) is a much bigger burden than people give credit for.” Chatbots for Personal Banking and Budget Management It’s increasingly common for banks to have chatbots for customers, too. Maybe you have a goal to set a certain percentage of your monthly earnings aside for retirement. You might also want to curb a certain type of spending, such as dining out or getting beverages in coffee shops. Cleo is a chatbot that links with numerous popular banks. The tool lets you ask questions to keep your monthly spending on track. You could say something like, “Can I afford a meal delivery tonight?” The chatbot would respond based on your monthly budget and what’s left of it. Sticking to a budget can help you form better financial habits that help with retirement preparedness and overall stability. Plus, chatbots make it easier to weigh the pros and cons of potential purchases, getting valuable visibility before those transactions happen. You might say, “I wish I would have realized beforehand that the outfit I splurged on would wreck my budget for the rest of the month.” Chatbots can prevent such scenarios. These easy-to-use tools help people get budgetary recommendations and bank account visibility in ways that were not available before. They can feel more prepared for what will happen in their retirement years, even if that period of their life is still decades away. Specialty Websites Help People Get Need-To-Know Information It’s also important to recognize the impact technology has had on information accessibility overall. Before the internet was so widespread, people got retirement advice in person or by reading books. Those methods are still valid, but the online realm opens additional opportunities to learn and plan. The internet gives people instant access to a gigantic assortment of information on any topic imaginable, including retirement preparation. Although users must learn to differentiate between reputable and faulty information, there’s no denying that the internet has had a tremendous impact on how and when people access content. Someone could go on a site like Reddit and find firsthand perspectives from other individuals in similar situations trying various strategies to prepare for retirement. They might also decide to follow blogs from financial planning thought leaders or regularly visit websites that recommend hot stocks to add to their portfolio. Technology can also help you narrow down retirement options on a more personal level. For example, maybe you’re interested in learning more about living in a continuing care retirement community (CCRC) as you age. Statistics indicate approximately 80% of these facilities are nonprofits. They usually provide three levels of care, ranging from independent living to total assistance with daily tasks. You might start researching which facilities have the amenities you want and offer desirable locations. Online reviews from residents and loved ones can be beneficial for learning more about the experiences of living at one in your area or wherever you plan to retire. Similarly, maybe you’ve had your heart set on spending your golden years in another country. The internet provides a wealth of information about the cost of living, quality of health care, ease of immigration for retirees, and other specifics to help you learn about a future potential home. It Helps Financial Professionals Market Their Services More Effectively Technology has also greatly improved how people specializing in financial services and retirement planning promote their services to potential customers. Before the internet, people found out about options through word-of-mouth or maybe by opening the phone book. The internet substantially changed that through websites and search engine listings. It only takes interested persons a few minutes to find advisers in their area and read about their experience and qualifications. Advisers who use technology effectively are better able to market to different demographics. That’s crucial, especially since people start retirement planning at numerous stages of life. One poll found that two-thirds of people from the millennial and Gen X generations have started planning for their retirements. That’s also true for 42% of the Gen Z population. The research also showed that people feel uncertain about the process regardless of age and need guidance. That sentiment opens possibilities for retirement planners to help. They’ll be best able to do that when they understand the needs of people from various age groups. Study Shows the Pandemic Changed Tech Utilization for Advisers Financial specialists have recently started viewing technology as essential for helping them meet clients’ expectations, especially during the COVID-19 pandemic. A study from Vestwell revealed that 85% of advisers were putting a bigger emphasis on technology to run their businesses. While commenting about the study, Adam Schumm, Vestwell’s CEO, said, “In a lot of ways, the pandemic served as a tipping point for the industry. Advisers realized that they needed to adapt to the changing times by using tech, while personal finance and retirement became a hot topic amidst the pandemic, making it a perfect storm for the industry.” Another finding from the study was that 45% of advisers found social media more effective now than in previous years. Plus, 25% said it was their most effective way of reaching out to customers. Brian Guerra, Vestwell’s vice president and head of marketing, explained that social media offers mutual benefits. “When it comes to an adviser and their practice, it’s a two-way street: Advisers use tools like LinkedIn to find leads, and leads use these tools to vet and learn about advisers. And I don’t think we’re at a plateau yet ⁠— advisers know social media is important, but not all have fully leveraged it yet. Those who are able to incorporate it into their practices effectively will definitely have a leg up,” he said. How Will Technology Help You Plan to Retire? The examples here show you have no shortage of options when thinking about how you’ll apply technology to your retirement-planning efforts. If you’re already familiar with using technology in everyday life, seeing how it aligns with your retirement goals could help you feel more in control of your future. Alternatively, if you don’t consider yourself tech-savvy currently, that’s no problem. Consider starting small, such as by using a retirement calculator or a budget tracker. Once you become accustomed to how those work, you’ll likely feel more confident about expanding your adoption of technology. It’s important to remember that technology will undoubtedly keep transforming how people plan for retirement. Staying abreast of that continual progress can help you gauge which new solutions might be most valuable for you and your financial goals now and into the future. Article by April Miller, Due About the Author April Miller is a writer, editor, and avid ongoing learner. Particularly, April is passionate about helping people learn how to use technology to save money, find financial opportunities, work smarter, plan for retirement, and live their best lives. Updated on May 17, 2022, 4:02 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMay 17th, 2022Related News

Coinbase surges 14% after outlining plan to slow down hiring during crypto market downturn

"We know this is a confusing time and that market downturns can feel scary," the crypto exchange wrote in a blog post. Coinbase made its public trading debut on the Nasdaq on April 14, 2021.Shannon Stapleton/Reuters Coinbase shares jumped Tuesday as the company said it plans to slow hiring.  The crypto exchange said in a blog post it had planned to triple in size this year.  The company said the change comes as it positions itself to succeed during and after the downturn in the crypto market.  Coinbase shares jumped Tuesday after the largest cryptocurrency exchange in the US said it's pulling back the pace of hiring to strengthen its businesses during a slump in the $1.4 trillion crypto market. It's "prudent to slow hiring and reassess our headcount needs against our highest-priority business goals," Coinbase President Emilie Choi said in a blog post, referring to the company's plan heading into this year to triple in size.Stock in Coinbase rose as much as 14% to $70.03. Volume was heavy, with more than 10 million shares exchanged by early afternoon compared with average daily volume of 7.8 million shares. The move was cutting into the stock's  fall of 76% year-to-date through Monday's session.Coinbase said it will focus on integrating new hires as it works to ensure it is best positioned to succeed during and after the current market downturn. Coinbase had expanded its employee base in a period of growth for the crypto market and the company, which itself went public in a highly anticipated IPO last year. The value of the cryptocurrency market has dropped this year to $1.4 trillion from $2.3 trillion in late December, largely weighed by a slide in the price of bitcoin. Bitcoin has lost more than 50% since hitting an all-time high of $69,044 in November, according to CoinGecko. Bitcoin has slid in tandem with the stock market in 2022, particularly high-growth tech stocks that were poster children for COVID era exuberance among investors. Equities this year have been battered by expectations of rate hikes by the Federal Reserve as it battles decades-high inflation. Once considered a hedge against rising prices, some analysts have noted the digital currency has been trading more like a risk asset.  Choi said headcount growth is a key input to Coinbase's financial model so slowing hiring and focusing on employee integration is an important action to undertake. Coinbase doesn't expect the change to have any material impact on its expense outlook for the second quarter or for full-year 2022."Big picture: We know this is a confusing time and that market downturns can feel scary. But as we said at last week's Town Hall, we plan for all market scenarios, and now we are starting to put some of those plans into practice," Choi wrote.  Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

Live updates: Pivotal primaries all day in Pennsylvania, North Carolina, Oregon

Senate seats in contention, Rep. Madison Cawthorn facing primary challenges in North Carolina and a GOP face-off in Pennsylvania to run for US Senate. Mehmet Oz (left) is in a tight race for the GOP nomination in a Pennsylvania Senate race while Rep. Madison Cawthorn is fending off primary challenges in North Carolina on Tuesday.Jeff Swensen/Getty Images; Anadolu Agency/Getty ImagesWelcome to the Insider live blog for the March 17 Primaries. We've got a number of great races tonight going coast to coast in the United States, but here are the ones we're really watching:Pennsylvania's got an open Senate seat this cycle, and this swing state will be the site of the marquee race for 2022 to decide the fate of the Senate.North Carolina is another massive Senate race, but the real action is going on in Rep. Madison Cawthorn's district, as the power in the local GOP wants to oust the controversial freshman and replace him with a less scandal-prone representative. In Oregon, a Democratic gubernatorial primary might very well decide the presumed winner of the election in this deep blue state.— Walt HickeyTight gubernatorial primary races in the Beaver State- Former Oregon House Speaker Tina Kotek, who is running for governor, poses for photos in Columbia Park in Portland, Ore., on Feb. 18, 2022. Oregon's primary elections are Tuesday, May 17, 2022.AP Photo/Sara Cline, fileDemocratic Gov. Kate Brown is finishing up her second term in office and cannot run again. After 35 straight years of having a Democrat as governor, Republicans in Oregon are hoping this is their year to regain executive power, but must figure out their nominee from a slate of 19 candidates led by former state Rep. Christine Drazan and businessman Bob Tiernan. With Brown term-limited, she leaves behind a wide-open Democratic field with 15 candidates. Two notable leaders on the Democratic ticket include Oregon Treasurer Tobias Read and former House Speaker Tina Kotek.The list of Democratic primary contenders used to be longer — former New York Times columnist Nick Kristof left his job to explore running for office in October 2021. Oregon's Supreme Court ultimately ruled in February that he couldn't be on the ballot, citing his failure to meet the three-year residency requirement to qualify.— Madison HallEmbattled Rep. Madison Cawthorn fights for a second term after a slew of scandalsU.S. Rep. Madison Cawthorn, R-N.C., waves to the crowd after he spoke before former President Donald Trump takes the stage at a rally on April 9, 2022, in Selma, NC.Chris Seward/APCawthorn catapulted into rising star status in the GOP when he was elected to Congress from North Carolina's 11th District in 2020 at age 25. But a series of ethics troubles, and explosive comments have infuriated his GOP colleagues and spurred some to openly root for his ouster, as Michael Kruse recently dug into for Politico Magazine. Our Camila DeChalus reported from Hendersonville earlier this month on Cawthorn's leading primary challenger, state Sen. Chuck Edwards, voters' mixed feelings about Cawthorn's scandals, and the former volunteers who have buyer's remorse. A split field of seven primary challengers could help Cawthorn squeak by to reelection, but he could head to a July 26 runoff if no one gets about 30% of the vote. — Grace PanettaWould you pay $1 million out-of-pocket for a US Senate seat?McCormick received more than $70 million in discretionary awards connected to a Bridgewater Associates plan.Divorce agreement between David McCormick and Amy RichardsonAs C. Ryan Barber and Adam Wren reported earlier this year, divorce documents obtained by Insider indicate that Republican US Senate candidate David McCormick could face such a situation — if he's first able to survive his Pennsylvania primary battle against Mehmet Oz and Kathy Barnette.As Barber and Wren wrote: "McCormick's divorce agreement includes a clause stipulating that he would pay his ex-wife $1 million if he voluntarily left his lucrative position at Bridgewater Associates for the 'public domain.' The agreement between McCormick and his ex-wife, Amy Richardson, defined 'public domain' as employment in 'any government entity' and required him to pay the seven-figure sum in a pair of $500,000 installments in the first two years of any full-time public sector job.Once the frontrunner, McCormick has slipped in the polls of late and could conceivably finish third. Former President Donald Trump has endorsed Oz, the longtime television show host, while Barnette has surged as a MAGA-friendly alternative to both Oz and McCormick. — Dave LevinthalOz, Barnette, and McCormick jockey in a close race in PennsylvaniaPennsylvania Republican Senate candidate Kathy Barnette speaks during a campaign rally at The Fuge in Warminster, Pennsylvania.Photo by Michael M. Santiago/Getty ImagesWe went to Pennsylvania earlier this month and found a lot of Trump voters who were pretty unhappy with Dr. Mehmet Oz as the former president's endorsement. Kathy Barnette has had an impressive surge late in the race, but the conservative author's background is now the subject of considerable scrutiny and has some Republicans worried she'd get beat by the Democrats should she make it to the November general election. No doubt, a victory for Barnette would be a big shock. But she's been within striking distance in all the latest polls. The candidate hoping to get a bump from undecideds is former hedge fund CEO David McCormick, who has picked up endorsements from the likes of Sen. Ted Cruz and former Secretary of State Mike Pompeo.– Jake LahutRead the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

FlexJobs Names 10 Remote-Friendly Companies That Help Pay for Employee Vacations

Airbnb, Expedia, TripAdvisor among companies helping pay workers to getaway Boulder, CO, May 17, 2022—In a recent FlexJobs survey, 62 percent of respondents ranked vacation time as one of the most important job benefits, following closely behind remote work (77 percent) and salary (83 percent). At the same time, travel restrictions are easing and giving […] Airbnb, Expedia, TripAdvisor among companies helping pay workers to getaway Boulder, CO, May 17, 2022—In a recent FlexJobs survey, 62 percent of respondents ranked vacation time as one of the most important job benefits, following closely behind remote work (77 percent) and salary (83 percent). At the same time, travel restrictions are easing and giving way to a travel and tourism industry rebound that experts anticipate will soon reach pre-pandemic levels. In the U.S. alone, a new report found 85 percent of Americans expect to travel this summer, and nearly half (48 percent) plan to take off two weeks or more. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Given the strong competition for talent in today’s market, many companies are leaning into more creative benefits around time off, such as helping cover the cost of employees’ travel expenses. To connect remote job seekers to some of the companies that have gone beyond the concept of unlimited vacation, FlexJobs has identified 10 companies that financially support their employees’ vacations and are currently or have recently hired remote workers. “Whether you’re remote, hybrid, or back in the office, taking time off is critical in avoiding burnout and maintaining a healthy work-life balance,” said Sara Sutton, Founder and CEO of FlexJobs. “We hope this list of companies not only connects job seekers to some of the incredible employers that are encouraging better work-life balance but also inspires other companies to consider creative ways they can enhance employee benefits and support their teams moving forward,” Sutton concluded. Remote-Friendly Companies That Help Pay for Employee Vacations The 10 companies below help pay for their employees’ vacations and have recently hired for remote roles.* Examples of recent job postings and details on each company’s vacation policy are included. Airbnb Employees receive annual travel and experiences credits. Recent job postings: Technical Sourcer Platform Equity Manager BambooHR BambooHR offers employees what they call “paid paid vacation“—$2,000 each year to travel as they please. Recent job postings: Senior Product Designer Client Service Specialist Senior Software Engineer, Backend Calendly In addition to flexible time off and a “pick your own perk” benefit, the company offers employees a $1,000 annual vacation stipend to encourage team members to take time away from their “work family” to recharge and relax. Recent job postings: Marketing Graphic Designer II Site Reliability Engineer Senior Customer Success Manager, Enterprise Evernote The company offers employees unlimited vacation days and a $1,000 yearly vacation stipend. Recent job postings: Manager, Content and Knowledge Staff Mobile Engineer - React Native Senior Marketing Website Performance and Optimization Manager Expedia Employees of the company receive a travel reimbursement, with ranges depending on tenure. They also receive discounts on retail and travel packages purchased through the site. Recent job postings: Executive Recruiting Coordinator Senior Corporate Travel Consultant FullContact FullContact provides $7,500 per year for employees to travel—and it’s required that they don’t work while on vacation! Recent job postings: Senior eLearning Specialist Senior Product Manager PulsePoint To help employees “take a load off,” PulsePoint offers paid vacation and company holidays (including birthdays) and provides a $500 annual travel reimbursement for vacation. Recent job postings: Product Marketing Manager Site Reliability Engineer Thirty Madison For vacation, Thirty Madison has an unlimited vacation policy bolstered by “an annual vacation stipend to prove that we mean it.” Recent job postings: Senior Frontend Engineer CRM Manager TripAdvisor TripAdvisor offers a travel reimbursement of $250 or more, depending on how long an employee has worked at the company. It also offers discounts on packages offered through the website. Recent job postings: SEO Strategist Business Development Sales Executive Customer Success Executive United Airlines Employees receive unlimited standby travel and discounted rates on airline tickets to anywhere United flies. Recent job postings: Analyst - Information Technology Supervisor - Reservation Sales FlexJobs’ career coaches recommend these steps to help ensure remote workers can truly disconnect on vacation. Give Advance Notice to Coworkers When working remotely, it can be easy to overlook telling coworkers about an upcoming vacation. Try to give bosses, clients, and colleagues a heads up by sending out an email at least two to three weeks ahead of any scheduled vacation. This will help everyone put it on their calendars—and no one can claim that they didn’t have advanced notice. Prioritize Responsibilities It’s not always doable to finish everything on one’s to-do list before heading out on vacation. Instead of working late trying to accomplish every task, which may lead to a lot more stress (and lowered productivity), look at all of the items on the to-do list, prioritize key responsibilities, and then tackle the tasks that absolutely have to get done. Fill in Gaps Look at your schedule for the time you’ll be out of the office and see what might be missing. For example, a colleague may need to submit a report or sit in during a team meeting. Be sure to have the person covering take notes on what will be missed. That way, you won’t feel like you missed a beat when returning to work. Plan Your Return For the first day back to work after a vacation, try not to overwhelm your schedule with too many tasks. Focus on prioritizing and setting realistic goals by taking the time to wade through emails, wrapping up pending tasks that require immediate input, and handling any emergencies. Blocking off this time will ensure there’s room to ease back into work and continue building relaxation and a healthier work-life balance. Disconnect and Recharge Although one of the biggest benefits of remote work is working from almost anywhere, the focus of vacation should be R&R, not writing emails. It can be a slippery slope from innocently answering a few emails to making a quick call to a coworker, and before you know it, you’re working again. Resist the urge to peek in on office affairs and focus on enjoying the vacation instead. For more information, please visit www.flexjobs.com/blog/post/flexible-companies-that-help-pay-for-your-vacation/ or contact Kathy Gardner at kgardner@flexjobs.com. *All companies have been actively or recently hiring in the FlexJobs database as of May 17, 2022. About FlexJobs FlexJobs is the leading career service specializing in remote and flexible jobs, with over 100 million people having used its resources since 2007. FlexJobs provides the largest database of vetted remote and flexible job listings, from entry-level to executive, startups to public companies, part-time to full-time and freelance. To support job seekers in all phases of their journey, FlexJobs also offers expert advice and career coaching services. In addition, FlexJobs works with leading companies to recruit quality remote talent and optimize their remote and flexible workplace. A trusted source for data, trends, and insight, FlexJobs has been cited in top national outlets, including CNN, The Wall Street Journal, The New York Times, CNBC, Forbes magazine, and many more. FlexJobs also has partner sites Remote.co and Job-Hunt.org to help round out its content and job search offerings. Follow FlexJobs on LinkedIn, Facebook, Twitter, Instagram, TikTok, and YouTube. Updated on May 17, 2022, 2:08 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMay 17th, 2022Related News

Tuesday links: focusing on survival

MarketsLong term Treasuries are not the best choice to offset equity market risk (morningstar.com)How the stock market has performed, post high VIX levels. (compoundadvisors.com)StrategySix constructive things you can do during a bear market, including tax-loss harvesting. (blairbellecurve.com)Two things to consider when making any investment. (behaviouralinvestment.com)BitcoinDoes Bitcoin really belong in 401(k) plans? (rogerlowenstein.substack.com)A Q&A with Ric Edelman author of the new book "The Truth About Crypto: A Practical, Easy-to-Understand Guide to Blockchain, Bitcoin, NFTs, and other Digital Assets." (thinkadvisor.com)FinanceWhy the SPAC boom ended as quickly as it started. (institutionalinvestor.com)Deutsche Bank has suffered through a scandal-filled decade. (ft.com)StreamingBerkshire Hathaway ($BRK.A) has purchased a big stake in Paramount Global ($PARA). (barrons.com)How Disney ($DIS) plans to roll out an ad-supported tier. (variety.com)Cord cutters still need internet access. (variety.com)HousingNational homebuilder confidence dropped sharply in May. (calculatedriskblog.com)Where homes may be overvalued. (fortune.com)Canadian home sales are slowing. (bloomberg.com)EconomyIndustrial production remains strong. (bonddad.blogspot.com)American consumers just keep spending. (tker.co)Earlier on Abnormal ReturnsResearch links: adapting to changing markets. (abnormalreturns.com)What you missed in our Monday linkfest. (abnormalreturns.com)Adviser links: learning how to say no. (abnormalreturns.com)Writing IS thinking. (abnormalreturns.com)Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)Mixed mediaSome evidence that taking a break from social media boosts happiness. (calnewport.com)There is a human on the other side of the screen. (ofdollarsanddata.com)Can you ever truly be authentic online? (vox.com).....»»

Category: blogSource: abnormalreturnsMay 17th, 2022Related News

Coinbase slows hiring companywide as crypto market faces downturn

With bitcoin value crashing in recent weeks, the world's largest cryptocurrency exchange is cancelling plans to scale up. Coinbase CEO Brian Armstrong.Patrick T. Fallon / Getty Images The world's largest cryptocurrency exchange platform, Coinbase, is feeling the effects of the crypto downturn. Coinbase is "slowing hiring" and pausing plans to triple the size of the company. Bitcoin value dropped has dropped 50% in the last six months, which has impacted the entire crypto market. The world's largest cryptocurrency exchange, Coinbase, is pausing growth plans for the year amid a major downturn in the crypto market."Given current market conditions, we feel it's prudent to slow hiring and reassess our headcount needs against our highest-priority business goals," Coinbase President Emilie Choi wrote in a note to staff that was also published on the company's blog. Coinbase was planning to "triple the size of the company" this year, but those plans are now on hold. It will instead focus on "fully integrating all recent hires," Choi said, in light of the ongoing downturn in the crypto market.In the last six months, the value of bitcoin has dropped by half — from about $60,000 per bitcoin in November 2021 to about $30,000 by May 2022.Since bitcoin is foundational to much of the crypto economy, other popular digital coins, like Ethereum, have also plummeted in value.Coinbase operates as a kind of stock exchange for crypto assets. Users are able to exchange currency for crypto coins, which can then be resold or held like stocks. The company recently said it might have to absorb its users' cryptocurrency in the event of a bankruptcy; it currently holds about $256 billion in user assets across fiat currency and cryptocurrency.In that event, all Coinbase users could lose any holdings kept on the service. Following that disclosure, crypto enthusiasts encouraged Coinbase users to transfer their holdings elsewhere. Got a tip? Contact Insider senior correspondent Ben Gilbert via email (bgilbert@insider.com), or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

Vodafone – No Changes (Yet)

You have to give it to them Vodafone Group plc (LON:VOD) is an Olympic champion at treading water. Full-year results today could be summarised as mostly the same with a tiny bit more profit. But with a major new shareholder announced just yesterday it seemed unlikely we’d get any big news today. Q1 2022 hedge […] You have to give it to them Vodafone Group plc (LON:VOD) is an Olympic champion at treading water. Full-year results today could be summarised as mostly the same with a tiny bit more profit. But with a major new shareholder announced just yesterday it seemed unlikely we’d get any big news today. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Activism At Vodafone Vodafone has been under serious pressure from investors, with activist investor Cevian recently leading the charge to fix Vodafone. If Cevian had their way Vodafone might look more like a German telecoms giant complemented by a nice towers/infrastructure business and a leading telecoms and fintech business in Africa. And while this is what Vodafone looks like if you close one eye, it’s the UK, Spain and Italian businesses that continue to cause them a headache. Sit tight for FY2023. Things could get interesting. Nick Read has been longing for an ally to help fight back against ever noisier activists and Vodafone’s newest shareholder E& could be just that. E&’s largely owned by the government of the Gulf state and conveniently run by an ex and long-time Vodafone employee, who judging by the announcement yesterday still seems to think the sun shines and crucially they are taking a supportive role (for now). There’s no doubt this takes the heat off Read making immediate decisions but for a chance at any share price recovery and genuine business improvement, Read will likely have to do something soon. For now Vodafone remains a sprawling dividend payer. But you’d hope with the latest shakeup in the board room, we’ll be able to say something different next year. About Freetrade Freetrade is the trading name of Freetrade Limited, a company registered in England and Wales (No. 09797821). Freetrade is authorised and regulated by the Financial Conduct Authority (No. 783189). freetrade.io | community | blog | @freetrade Help us build Freetrade. We're hiring. Updated on May 17, 2022, 11:11 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMay 17th, 2022Related News

Live updates: Pivotal primaries kick off in Pennsylvania, North Carolina

Key races include Rep. Madison Cawthorn facing primary challenges in North Carolina and a GOP face-off in Pennsylvania to run for US Senate. Mehmet Oz (left) is in a tight race for the GOP nomination in a Pennsylvania Senate race while Rep. Madison Cawthorn is fending off primary challenges in North Carolina on Tuesday.Jeff Swensen/Getty Images; Anadolu Agency/Getty ImagesWelcome to the Insider live blog for the March 17 Primaries. We've got a number of great races tonight going coast to coast in the United States, but here are the ones we're really watching:Pennsylvania's got an open Senate seat this cycle, and this swing state will be the site of the marquee race for 2022 to decide the fate of the Senate.North Carolina is another massive Senate race, but the real action is going on in Rep. Madison Cawthorn's district, as the power in the local GOP wants to oust the controversial freshman and replace him with a less scandal-prone representative. In Oregon, a Democratic gubernatorial primary might very well decide the presumed winner of the election in this deep blue state.— Walt HickeyOz, Barnette, and McCormick jockey in a close race in PennsylvaniaPennsylvania Republican Senate candidate Kathy Barnette speaks during a campaign rally at The Fuge in Warminster, Pennsylvania.Photo by Michael M. Santiago/Getty ImagesWe went to Pennsylvania earlier this month and found a lot of Trump voters who were pretty unhappy with Dr. Mehmet Oz as the former president's endorsement. Kathy Barnette has had an impressive surge late in the race, but the conservative author's background is now the subject of considerable scrutiny and has some Republicans worried she'd get beat by the Democrats should she make it to the November general election. No doubt, a victory for Barnette would be a big shock. But she's been within striking distance in all the latest polls. The candidate hoping to get a bump from undecideds is former hedge fund CEO David McCormick, who has picked up endorsements from the likes of Sen. Ted Cruz and former Secretary of State Mike Pompeo.– Jake LahutRead the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

How this theme-park fanatic makes a living by predicting future rides at Disney and Universal

Alicia Stella turned her passion into a career. Her predictions of new rides at Disney and elsewhere go on her website, podcast, and YouTube channel. Alicia Stella.Courtesy of Alicia Stella Alicia Stella is a lifelong theme-park fan and resident of Orlando, Florida. She makes a living snooping the internet for information on the newest attractions at major theme parks. "I find bits of information that individually don't tell a story," Stella said. "But when you put them together, you see the broader picture." Alicia Stella, a lifelong theme park fan and resident of Orlando, Florida, makes a living scouring the internet for top-secret information on the newest attractions and experiences coming to area theme parks like Walt Disney World and Universal Orlando Resort. Stella often lets the cat out of the bag long before Disney or Universal make any official announcement. Stella relies on permits, patents, and site plans — along with the ever-churning theme park rumor mill — to get a sneak peek at what's going on behind the scenes at Disney and Universal parks. Her uncanny ability to take what she learns from her sleuthing sessions to predict what's being developed for these parks that sets her apart from other theme-park aficionados, and it's allowed her to turn her passion into a career.Originally from South Florida, Stella's fascination with theme parks took root during her family's annual visits to Orlando. Each time she visited, there would be slight changes. Disney World's "Mission to Mars" attraction evolved into "ExtraTERRORestrial Alien Encounter" and "If You Had Wings" eventually became "Delta Dreamflight." "It was fascinating to me that the parks were always evolving," Stella told Insider. "It really sparked something in me that there were these slight changes whenever I would go back."Her interest flourished when she moved to Central Florida in high school and was close enough to get annual passes and visit the parks more often. When Stella jumped into the world of blogging, she dabbled in various topics, but she always came back to the one thing she never tires of talking about: theme parks.In 2017, she gave her theme park news stories a permanent home on her current site, Orlando ParkStop, and YouTube channel, Theme Park Stop. She wasn't necessarily planning on her talents becoming a full-time business, but she did notice that the theme park stories on her previous blog generated more Google ad revenue than anything else. Today, Orlando ParkStop still generates income from Google ads, but YouTube ads are now a part of the mix. Stella also cohosts the ParkStop Podcast, sells merchandise, and has a Patreon page where fans can help to support her work. As a thank you, the Patreon community often gets early access to videos and podcasts — as well as the occasional lesson on how to do the exact type of research Stella does to create her videos and articles. "I recently put out a secret video just for Patreon subscribers that shows them how to look up permits," Stella said.Stella shared a few of her secrets with us as well, and it turns out, the information isn't so secret after all. "There are multiple websites that share permits for the state of Florida and, due to the Florida Freedom of Information Act, anyone can access these records," Stella said. These sites include the Orange County Comptroller, Orange County Planning & Development, and the South Florida Water Management District. "Patents are also publicly available. You can search a company's name and see everything they've patented to find out what they are currently working on."Finding these patents and permits is the easy part of Stella's job. The hard part is making sense of the information she finds. "What I tend to find is a lot of tiny dribs and drabs of information that individually don't tell a story," Stella said. "But when you put all the disparate pieces together like you would a puzzle, you start to see the broader picture."And that is where the rumor mill comes in. If a particular rumor comes up multiple times on the theme park forums Stella frequents, she'll start to take note of it."When I can match up rumors with evidence like a patent for some new technology or a permit, that adds some credence to the rumor and that's when the story starts to become clearer," Stella said.Take, for example, the recently closed "Shrek 4-D" attraction at Universal Studios Florida. Rumors about the attraction's closure have been swirling for nearly four years and Stella has been keeping tabs on the project the entire time.There have been plenty of theories on what will replace Shrek 4-D, but Stella's intuition tells her a Minions-based attraction will soon take its place. Based on her research, she's long theorized that the new attraction would find guests on a moving walkway, shooting blasters at targets along the way. The attraction would be themed to the Villain-Con seen in the first "Minions" movie.Not only has Universal teased that the new attraction would in fact have a Minions theme, but a permit recently filed with the Orange County Comptroller confirms the moving walkway concept. Now, we wait (im)patiently for Universal to confirm what Stella already seems to know. "At first, I thought there was no way they would have moving walkways on a ride," she said. "Now I believe it." Another project on Stella's radar is the currently-under-construction Universal's Epic Universe, the first US theme park to be built during the digital age when we can follow such things so closely. Stella noticed in 2018 that Universal had been acquiring hundreds of acres of land in the Orlando area. In addition to trademarking the name "Epic Universe," Universal left a trail of breadcrumbs that led Stella to announce Universal's fourth gate months before Universal made the official announcement.If you want to keep up with progress on Universal's Epic Universe, you can always sit around and wait for Universal to make an announcement. Or you can follow along with Stella's well-researched predictions and be one of the first to know.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 17th, 2022Related News

Coinbase stock gains after company reveals less aggressive hiring plans

Shares of Coinbase Global Inc. were soaring in premarket trading Tuesday after the cryptocurrency marketplace suggested that it would be less aggressive than previously expected in its efforts to expand the business and grow hiring. "Heading into this year, we planned to triple the size of the company," President Emilie Choi said in a Monday blog post. "Given current market conditions, we feel it's prudent to slow hiring and reassess our headcount needs against our highest-priority business goals. Headcount growth is a key input to our financial model, and this is an important action to ensure we manage our business to the scenarios we planned for, specifically the potential Adjusted EBITDA we are aiming to manage to." Coinbase shares have cratered more than 75% on the year as cryptocurrency trading has fallen off. The latest blog post comes on the heels of Coinbase's March-quarter earnings report last week, in which the company posted a sharp drop in users relative to the December quarter. At the time of the earnings call, the company also reiterated its intent to make 2022 an investment year. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatchMay 17th, 2022Related News

Checking In On Five Long-Term Cycles

Checking In On Five Long-Term Cycles Authored by Charles Hugh Smith via OfTwoMinds blog, The decline phase of S-Curves can be gradual or a cliff-dive. Way back in 2007 I charted five long-wave cycles that I reckoned consequential: Public debt (accumulating federal deficits) Inflation Oil (energy) Interest rates Speculative fever Fifteen years ago, my chart look-ahead was about three years, to 2010, with the basic idea being that these long-term cycles had already turned or were about to turn. Looking back, I should have added a few other long cycles: demographics, for example. I have two takeaways looking at this chart 15 years later. You probably have similar takeaways. 1. I underestimated the status quo's ability to kick the can down the road for a decade. The motivation to kick the can down the road was never in doubt; what was in doubt was the system's ability to respond to doing more of what's failed spectacularly and keep on keeping on more or less unfazed. 2. After 15 years of frantic can-kicking, the cycles have indeed turned. I would say the predicted turns were correct but frantic can-kicking extended the existing cycle of hyper-financialization / hyper-globalization an extra decade. Various dynamics extended the hyper-financialization / hyper-globalization bubble phase. Fracking in the U.S.--funded by the massive expansion of cheap credit--extended the global energy abundance as the resulting losses were swept away in a tsunami of cheap credit. Zombie frackers were fed as many billions in new loans as were needed to keep the cheap oil flowing. The whole shebang was at risk of unraveling in 2011, but China's gargantuan credit expansion saved the day, and did so again in 2016. But China's credit expansion has now reached systemic limits, and so those relying on China to save the global economy yet again from the banquet of consequences are about to be severely disappointed. The Federal Reserve's ten-fold expansion of its balance sheet artificially suppressed interest and mortgage rates while various gaming-how-we-measure-what-we-measure tricks understated real-world inflation while hyper-globalization continued deflating costs by shifting production to the lowest-cost regions. The success of frantic can-kicking to extend hyper-financialization / hyper-globalization pushed speculation into hyper-speculation. The monumental bubbles in stocks and housing 1999-2008 now look modest compared to today's Everything Bubble. The past 20 years have "proven" the profitability of buying the dip which is essentially a bet that there are no limits on frantic can-kicking. Alas, it is now clear that at long last there are limits on frantic can-kicking, and the cycles have turned. The 40-year decline in interest rates has turned, the four-decade quiescence of inflation has turned, the era of low-cost extraction of abundant hydrocarbons has turned, the cycle of being able to "borrow our way out of trouble" has turned and the era of rewarding hyper-speculation has turned. How gradual or dramatic the new cycle will be is unknown. If we imagine all these dynamics as a pendulum, the pendulum has been pushed by frantic can-kicking to systemic extremes that will reverse to extremes at the other end of the spectrum (minus a bit of friction). The decline phase of S-Curves can be gradual or a cliff-dive. While we don't know the decay / unraveling trajectory yet, we can anticipate all these long cycle turns reinforcing each other. It's all one system, after all, and the decay / unraveling of each subsystem will accelerate the decay / unraveling of the other subsystems. As a general rule, it's a good idea not to stand in the way of the pendulum. Put another way, it's considerably safer to be in the stands watching the great beasts slouching towards Bethlehem than being on the blood-soaked sand of the Coliseum, clutching a wooden sword and a shredded net. *  *  * My new book is now available at a 10% discount this month: Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $8.95, print $20). If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com. Tyler Durden Tue, 05/17/2022 - 08:20.....»»

Category: blogSource: zerohedgeMay 17th, 2022Related News