Anonymous ID: 3b4445 Dec. 31, 2024, 1:24 p.m. No.22264943   🗄️.is 🔗kun   >>4950 >>4955 >>5141 >>5286 >>5365 >>5626 >>5714

Tesla Employees work under threat of deportation

 

Tesla has replaced some of its US employees who were let go as part of a big wave of layoffs earlier this year with foreign workers using H-1B visas, which CEO Elon Musk is now campaigning to increase.

 

Over the last week, Elon Musk has been promoting the increase of H-1B visas, which are used to bring foreign workers into the US for “specialty occupations.”

 

Qualified foreign workers need to be sponsored by a company to get the visa, which lasts three years, extendable to six years, after which the holder needs to reapply.

 

The visa holder must maintain employment at the visa sponsor to retain the work visa. The worker would have to leave the country if the employment ends for whatever reason. This has led to some criticism as it gives tremendous power to the employer and can lead to a modern version of indentured servitude.

 

While there are obvious benefits to bringing skilled workers into the US, people are divided on the issue because those workers are often paid less than US workers, putting negative pressure on compensation, especially in the tech industry, on top of the moral questions about holding visas over the heads of foreign workers.

 

That’s why the US Congress has mandated a 65,000 visa cap limiting the number of H-1B visas that can be issued each fiscal year, plus an extra 20,000 for foreign people coming out of graduate programs at US universities.

 

Tesla has been a big user of those visas, and its CEO, Elon Musk, has been using his newfound political influence to promote increasing the cap of H-1B visas. He received significant pushback from his new friends on the right side of the political spectrum in the US, who see this visa as being used to steal jobs from Americans.

 

He is quite passionate about the issue, to say the least.

 

To be fair, Musk didn’t come to the US on a H-1B visa. He came on a student visa, and later, his own brother admitted that they were illegal immigrants in the early days of launching their Zip2 startup in the US.

 

Tesla’s use of H-1B visas

Over the last few days, several current and former Tesla workers reached out to Electrek to reveal that Tesla ramped up its use of H-1B visas to replace US workers it let go during a wave of layoffs earlier this year.

 

We reported that roughly US 15,000 employees were let go at Tesla around April 2024. Every department was affected, but the layoffs were concentrated in Texas and California, where Tesla has more workers than anywhere else.

 

Current and former Tesla employees said that many of the laid-off US workers were replaced by foreign workers using H-1B visas.

 

These claims are backed by US Department of Labor data, which show that Tesla requested over 2,000 H-1B visas during the time it was laying off US workers (via Reddit).

 

https://electrek.co/2024/12/30/tesla-replaced-laid-off-us-workers-with-foreign-workers-using-h-1b-visas-that-musk-want-to-increase/

Anonymous ID: 3b4445 Dec. 31, 2024, 1:25 p.m. No.22264950   🗄️.is 🔗kun   >>5141 >>5286 >>5365 >>5626 >>5714

>>22264943

Tesla layoff announcement from April

 

Tesla has announced layoffs of “more than 10%” of its global workforce in an internal company-wide email. We exclusively reported yesterday that Tesla was prepping a massive layoff.

 

For the last few months, it has looked like Tesla might be preparing for a round of layoffs. Tesla told managers to identify critical team members, and paused some stock rewards while canceling some employees’ annual reviews. It also reduced production at Gigafactory Shanghai.

 

Then, over the weekend, we heard rumors that these layoffs were about to happen, which came to us from multiple independent sources, as we reported on yesterday. The rumors indicated that layoffs could be as high as 20%, and in addition we heard that Tesla would shorten Cybertruck production shifts at Gigafactory Texas (despite CEO Elon Musk’s recent insistence that Cybertruck is currently production constrained).

 

Now those rumors have been confirmed – though with a lower number – in a company-wide email sent by Musk, which leaked soon after it was sent. The full text of the email is below:

 

Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth there has been duplication of roles and job functions in certain areas. As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity.

 

As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally. There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle.

 

I would like to thank everyone who is departing Tesla for their hard work over the years. I’m deeply grateful for your many contributions to our mission and we wish you well in your future opportunities. It is very difficult to say goodbye.

 

For those remaining, I would like to thank you in advance for the difficult job that remains ahead. We are developing some of the most revolutionary technologies in auto, energy and artificial intelligence. As we prepare the company for the next phase of growth, your resolve will make a huge difference in getting us there.

 

Thanks,

Elon

 

Additionally there are reports that some employees have already been locked out of system access.

 

While we don’t have an exact percentage, “more than 10%” means at least 14,000 employees will be laid off, as Tesla’s employee headcount is somewhere on the order of 140,000 total employees (Notably, Tesla’s headcount has not experienced as much “rapid growth” in recent years as it has in the past, making that line of the email ring somewhat hollow).

 

And we don’t know which specific teams will be most or least affected by Tesla’s layoffs, but two well-known Tesla executives are now missing the “Tesla-affiliated” badge on twitter – Drew Baglino and Rohan Patel.

 

(Update: It’s confirmed that both Baglino and Patel are no longer with the company)

 

Baglino was still listed as Senior VP of Powertrain and Energy on Tesla’s website for some time after the email went out, but has now been removed. Patel was Tesla’s Policy chair who has also served as an impromptu Tesla PR arm on twitter, commenting on news in the place of Tesla’s still incomprehensibly-nonexistent PR department.

 

The news follows a bad quarterly delivery report in which Tesla significantly missed delivery estimates, and had a rare year-over-year reduction in sales. While Tesla does not break out sales by geographical region, the main dip seems to have come from China, where Chinese EV makers are ramping quickly both in the domestic and export market.

 

Tesla will deliver its quarterly profits report next Tuesday, April 23. Analysts estimate that Tesla will still turn a profit of around 50 cents a share, down from 85 cents a share in Q1 2023.

 

In previous quarters, Tesla has guided for a “pause” inbetween growth phases, expecting that sales growth would be more modest until the release of next-gen vehicles like the ~$25,000 Model 2 (though Reuters recently reported that Musk wants to shift Tesla’s focus to a robotaxi model, which Musk denied just hours before announcing the robotaxi unveiling event).

 

Tesla’s layoffs come at a time when many other companies in the tech industry are laying off staff, in an apparent game of follow-the-leader while industry profits are still high.

 

https://electrek.co/2024/04/15/tesla-lays-off-more-than-10-of-its-global-workforce/

Anonymous ID: 3b4445 Dec. 31, 2024, 1:32 p.m. No.22264999   🗄️.is 🔗kun   >>5141 >>5286 >>5365 >>5453 >>5626 >>5714

Jimmy Carter Was a Terrible President — and an Even Worse Former President

 

The truth is that historians have not been harsh enough.

 

A popular narrative surrounding the legacy of Jimmy Carter is that as president he was a victim of unlucky timing that impeded him politically but that he excelled during his long post-presidential career. The reality is that he was a terrible president but an even worse former president.

 

Carter’s true legacy is one of economic misery at home and embarrassment on the world stage. He left the country in its weakest position of the post–World War II era. After being booted out of office in landslide fashion, the self-described “citizen of the world” spent the rest of his life meddling in U.S. foreign policy and working against the United States and its allies in a manner that could fairly be described as treasonous. His obsessive hatred of Israel, and pompous belief that only he could forge Middle East peace, led him to befriend terrorists and lash out at American Jews who criticized him.

 

A former governor of Georgia who had little charisma and national name recognition when he began campaigning for president, Carter ended up in the White House as a fluke. He presented an image as an honest, moderate, and humble southern Evangelical Christian outsider — an antidote to the corruption of the Watergate era. He also benefited from the vulnerabilities of the sitting president, Gerald Ford.

 

Once in office as an unlikely president, Carter spent his one and only term showing the American people, and the rest of the world, that he was not up to the job.

 

When he took the presidential oath in January 1977, the unemployment rate was a high 7.5 percent; when he left office in January 1981, it was just as high. Meanwhile, inflation, which was already elevated at 5.7 percent in 1976, the year he was elected, went up in each of his years in office, and reached a staggering 13.5 percent in 1980, the year he was booted out. The only year in the post World War II period in which inflation was higher was 1947, when the economy was booming and unemployment was minuscule. Put another way, to maintain the buying power that $100 had on the month Carter was sworn into office, you’d need $150 by the time he left the White House just four years later. Under Carter, gas prices doubled, and the supply became so scarce that Americans had to endure long lines at stations to fill up their tanks.

 

On the international stage, Carter showed weakness, and America’s enemies took notice. Rather than recognize the true nature of the Soviet threat, he preached the defeatist ideology of “peaceful coexistence,” and the USSR steamrolled into Afghanistan. Also under his watch, radical Islamic revolutionaries took over Iran, holding Americans hostage for the last 444 days of his presidency.

 

It is telling that the defining speech of his presidency was known as the “malaise speech,” in which he spoke not as a leader but as an essayist writing on the “crisis of confidence” in America. He observed: “For the first time in the history of our country a majority of our people believe that the next five years will be worse than the past five years.” As he built a legacy of scarcity, he criticized Americans for wanting plenty, lamenting that “too many of us now tend to worship self-indulgence and consumption.”

 

It should be no surprise that Ronald Reagan’s message of strength and optimism turned 1980 into a complete rout. Carter not only lost 489 electoral votes to 49, but he got trounced by ten points in the popular vote — even though an independent candidate, John Anderson, drew 7 percent.

 

Carter, who performatively carried his own luggage as president, tried to present himself as humble. But somebody actually humble would have taken the hint by the magnitude of his defeat. The real Jimmy Carter was stubborn and arrogant. He had plans for a second term, and he wanted to see them through despite the overwhelming rejection by the American people. So instead of stepping away, he spent the rest of his life simply pretending that he was still president and pursuing foreign policy goals even when it meant undermining the actual president.

 

The two most egregious examples of this came in his efforts to stop the first Iraq War and his freelance nuclear diplomacy with North Korea.

 

In his mostly sycophantic 1998 book on Carter’s post–White House career, The Unfinished Presidency, Douglas Brinkley gave a startling account of Carter’s behavior in the run-up to the 1990–91 Persian Gulf conflict.

 

Concerned by the looming threat of war after Saddam Hussein’s invasion of Kuwait, Carter pulled out all the stops — and then some — to try to thwart the president, George H. W. Bush. Carter’s efforts started off within the realm of acceptable opposition for a former president. He wrote op-eds, hosted conferences, gave speeches — all urging peace talks as an alternative to repelling Saddam with the use of military force.

 

But when that failed, he took things to an extraordinary level. Carter wrote a letter to the leaders of every country on the U.N. Security Council, as well as a dozen other world leaders, Brinkley recounted, making “a direct appeal to hold ‘good faith’ negotiations with Saddam Hussein before entering upon a war. Carter implied that mature nations should not act like lemmings, blindly following George Bush’s inflammatory ‘line in the sand rhetoric.’”

 

As if this weren’t enough, on January 10, 1991 — just five days before a deadline that had been set for Saddam to withdraw — Carter wrote to key Arab leaders urging them to abandon their support for the U.S., undermining months of careful diplomacy by the Bush administration. “You may have to forego approval from the White House, but you will find the French, Soviets and others fully supportive,” Carter advised them.

 

It is one thing for a former president to express opposition to a policy of the sitting president, but by actively working to get foreign leaders to withdraw support for the U.S. days before troops were to be in the cross fire, Carter was taking actions that were closer to treason than they were to legitimate peace activism.

 

Carter’s meddling was not limited to the first Iraq War or to Republican administrations. In 1994, there was a standoff between the U.S., its allies, and North Korea over the communist country’s nuclear program. The U.S. was floating the idea of sanctions at the United Nations. Over the years, Carter had received multiple invitations to visit North Korea from Kim Il-sung and was eager to fly over and defuse the situation with an ultimate goal of convening a North–South peace summit and unifying the peninsula. Begrudgingly, the Clinton administration agreed to let Carter meet with Kim as long as Carter made clear that he was a private citizen and that he was merely gathering information on the North Korean perspective, which he would then report back to the Clinton administration.

 

Without telling the Clinton administration, however, Carter flew to North Korea with a CNN film crew and proceeded to negotiate the framework of an agreement. He then informed the Clinton team after the fact, with little warning, that he was about to go on CNN to announce the deal. This infuriated the Clinton administration, and according to Brinkley’s account, one cabinet member called the former president a “treasonous prick.” To make matters worse, Carter then accepted a dinner invitation from Kim, at which point Carter claimed on camera that the U.S. had stopped pursuing sanctions at the U.N., which was untrue. Nevertheless, once Carter went on television to announce all this, Clinton felt completely boxed in, and he was forced to accept the deal and abandon sanction efforts.

 

Over time, it became clear that Kim had just used Carter to take the heat off, get economic relief, and buy time while still continuing to enrich uranium in violation of the agreement, which it withdrew from in 2002 after being called out for cheating. Within a few years, North Korea had built a nuclear arsenal. Carter’s effort at freelance diplomacy, in addition to advancing a foreign policy at odds with the administration, squandered a crucial window to stop North Korea from going nuclear.

 

When it came to unrealized ambitions, nothing frustrated Carter more than the Middle East. He was convinced that, had he been reelected, he would have been able to build on the peace agreement between Israel and Egypt and resolve the conflict between Israelis and Palestinians — even though there were significant differences between the two conflicts. In 2003, he boasted to the New York Times, “Had I been elected to a second term, with the prestige and authority and influence and reputation I had in the region, we could have moved to a final solution.” It was quite a choice of words.

 

During the pro-Israel Reagan administration, Carter saw little opportunity to advance his agenda, but he perceived an opening when Bush took over. In 1990, he befriended PLO terrorist leader Yasser Arafat, and, Brinkley writes, “Carter began coaching Arafat on how to not frighten democracies by using inflammatory rhetoric: it was a strategy that would eventually lead to the Oslo Agreements of September 1993.”

 

Throughout the 1990s, Arafat pursued a strategy of talking peace to the world at large while working behind the scenes to continue terrorist attacks against Israeli civilians. He was infamous for appearing moderate when speaking in English while fuming radically and inciting violence in Arabic. Throughout this time, he was being mentored by Carter, who not only advised him but even personally wrote a sample speech for him suggesting language to use that would allow him to more effectively gain sympathy from Western audiences. At one point, he went on a Saudi fundraising mission for the PLO at Arafat’s behest. Of course, Arafat had no interest in peace, which became crystal clear in 2000 when he rejected an offer of Palestinian statehood and launched a campaign of terror known as the Second Intifada instead.

 

Carter’s friendship with Arafat was part of a pattern in which he would chastise Israel in the most extreme terms while ignoring or minimizing the actions of terrorists and dictators whose enemies happened to be Israel. On a Middle East trip in 1990, he visited Syria to meet with Hafez al-Assad and had nothing to say about the brutal dictator’s violations of human rights, but then he went to Israel and blasted its human rights record as it was trying to form a government. Carter met with and embraced Hamas and, in 2015, the year after thousands of rockets were fired indiscriminately at Israel civilians, claimed that the group, which in its charter calls for the extermination of Israel, was the party actually committed to peace and that Israel was not.

 

In 2007, Carter published Palestine: Peace Not Apartheid, which was not only one-sided in its attacks on Israel but was filled with inaccuracies and distortions. At one point in the book, he invoked the story of Jesus to liken Israeli authorities to the Pharisees. In the first edition, he included a line in which he asserted that terrorist attacks on Israeli civilians were justified until Israel submits to demands: “It is imperative that the general Arab community and all significant Palestinian groups make it clear that they will end the suicide bombings and other acts of terrorism when international laws and the ultimate goals of the Roadmap for Peace are accepted by Israel.” While he claimed this line was a mistake, he defended the rest of his work and dismissed legitimate criticism as merely coming from Jews.

 

“Most of the condemnations of my book came from Jewish American organizations,” Carter said in an interview with Al Jazeera, in which he also claimed that Palestinian rocket attacks on Israelis were not acts of terrorism. In a Los Angeles Times op-ed, he further advanced old tropes of nefarious Jewish control. He complained that the pro-Israel lobby made it “almost politically suicidal for members of Congress to espouse a balanced position between Israel and Palestine” and lamented that “book reviews in the mainstream media have been written mostly by representatives of Jewish organizations.” This wasn’t true, and, further, it means that he described all Jewish writers (such as Jeffrey Goldberg, who reviewed the book for the Washington Post) as representing “Jewish organizations.”

 

In a speech at George Washington University on the same book tour, he argued that the obstacle to peace was “a minority of the more conservative [Israeli] leaders who have intruded into Palestine and who are unfortunately supported by AIPAC and most of the vocal American Jewish communities.”

 

At the event, one student asked about the fact that 14 members of the Carter Center’s advisory board had resigned over the book, and Carter had a familiar response: “They all happen to be Jewish Americans; I understand the tremendous pressures on them.”

 

One of the members to resign was a close associate, Ken Stein, an Emory University professor who had spent decades at the center — as its first permanent director, and then as the Middle East fellow, during which time he traveled with Carter and took notes on their meetings with foreign leaders. In a blistering review for the Middle East Quarterly, Stein wrote, “While Carter says that he wrote the book to educate and provoke debate, the narrative aims its attack toward Israel, Israeli politicians, and Israel’s supporters. It contains egregious errors of both commission and omission. To suit his desired ends, he manipulates information, redefines facts, and exaggerates conclusions.”

 

Among the examples he gives is an account of a meeting Carter had with Hafez al-Assad, in which Stein was the notetaker. Even though Stein shared his notes from the meeting, Carter’s account of the same meeting in the book was manipulated to make Assad seem more flexible than he actually was.

 

Stein also included the revelation that “Carter’s distrust of the U.S. Jewish community and other supporters of Israel runs deep.” Stein recalled an interview he once conducted for his 1991 book in which Carter bitterly told him:

 

[Vice president] Fritz Mondale was much more deeply immersed in the Jewish organization leadership than I was. That was an alien world to me. They [American Jews] didn’t support me during the presidential campaign [that] had been predicated greatly upon Jewish money. . . . Almost all of them were supportive of Scoop Jackson — Scoop Jackson was their spokesman . . . their hero. So I was looked upon as an alien challenger to their own candidate. You know, I don’t mean unanimously but . . . overwhelmingly. So I didn’t feel obligated to them or to labor unions and so forth. Fritz . . . was committed to Israel. . . . It was an act just like breathing to him — it wasn’t like breathing to me. So I was willing to break the shell more than he was.

 

It probably didn’t help Carter’s mood that, in 1980, he received a lower share of the Jewish vote than any Democratic candidate since 1920.

 

In the coming days and weeks, there will be an effort to rewrite history and claim that the 39th president was underappreciated and that people have been too harsh on him. But the truth is that historians have not been harsh enough. One of the few silver linings that can be offered about Jimmy Carter is that, thankfully, he was too politically inept to be given the opportunity do even more damage.

 

https://archive.is/0ZEt9#selection-1087.0-1215.400

Anonymous ID: 3b4445 Dec. 31, 2024, 2:02 p.m. No.22265161   🗄️.is 🔗kun

World’s 500 Richest People Surpassed $10 Trillion in Wealth This Year

 

The world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined $10 trillion net worth.

An indomitable rally in US technology stocks played a key role in turbocharging the trio’s wealth, as well as the fortunes of Larry Ellison, Jeff Bezos, Michael Dell and Google co-founders Larry Page and Sergey Brin. The eight tech titans alone gained more than $600 billion this year, 43% of the $1.5 trillion increase among the 500 richest people tracked by the Bloomberg Billionaires Index.

But it was Musk — the so-called “first buddy” of President-elect Donald Trump after unprecedented support for his reelection campaign — who dominated the world’s wealthiest in 2024.

His close relationship with the incoming president helped increase the value of his companies, including Tesla Inc., SpaceX and xAI. That boosted his fortune to an unprecedented $442.1 billion, up $213 billion from the beginning of the year. The $237 billion gap between him and Bezos on Dec. 17 was the largest ever recorded between the first- and second-ranked names on Bloomberg’s wealth index.

Across the board, the world’s wealthiest benefited from a stock market that defied expectations in 2024. The S&P 500 Index gained 24% through Monday, powered by the small group of stocks dubbed the “Magnificent Seven,” including Musk’s Tesla, Zuckerberg’s Meta Platforms Inc. and Huang’s Nvidia Corp., which accounted for more than half of the stock benchmark’s performance.

Trump’s election win added to the gains: The S&P 500 hit a then all-time high on Nov. 6 in its best post-Election Day performance in history. The billionaires represented on the index gained a combined $505 billion in the five weeks following the election, 34% of the yearly total.

Trump’s victory also sparked a historic rally for digital assets, pushing Bitcoin above $100,000 for the first time. That especially boosted crypto billionaires: Binance Holdings’ Changpeng Zhao, known as CZ, saw his wealth surge 60% to $55 billion. The net worth of Coinbase Global Inc. co-founder Brian Armstrong rose more than 50% to $11.1 billion.

The total value of the fortunes tracked by the Bloomberg Billionaires Index was $9.8 trillion at Monday’s close, down slightly from a Dec. 11 peak of $10.1 trillion following a post-Christmas selloff. Their wealth is similar in size to last year’s combined gross domestic products of Germany, Japan and Australia, according to data compiled by the World Bank.

 

Here are some of this year’s biggest winners and losers:

''Winners''

-Donald Trump: The president-elect’s fortune soared to record highs this year, boosted by the performance of his majority stake in Trump Media & Technology Group Corp. Despite reporting a $19.2 million loss last quarter, DJT, as the social-media company is known, gained 95% this year, to a current market value of over $7 billion.

-Jensen Huang: Nvidia CEO Huang has been one of the biggest individual winners of the AI boom so far, adding $76 billion to his net worth this year. Nvidia’s stock nearly tripled in 2024, and it became the world’s most valuable company for the first time in June.

Mark Zuckerberg: Despite a blockbuster $841 million antitrust fine from the EU and early-year hesitation from investors about the company’s multibillion-dollar AI push, the Meta CEO added $81 billion to his net worth this year as Meta stock gained nearly 70%.

-Chinese billionaires: Chinese billionaires, including Tencent Holdings Ltd. CEO Pony Ma, Xiaomi Corp. Chairman Lei Jun and Cambricon Technologies Corp. co-founder Chen Tianshi, added 14% to their fortunes in 2024. Their gains reversed three straight years of losses spurred by an ongoing property crisis and government clampdowns on powerful tech firms.

-Billionaires under age 60: The younger billionaires on the list grew their wealth more than twice as much as their older counterparts this year. Billionaires under 60 make up 27% of the index.

 

''Losers''

-French luxury billionaires: The fortunes of Bernard Arnault, Francoise Bettencourt Meyers and Francois Pinault, whose wealth comes from holdings in the luxury goods sector, took big losses in 2024. After years of pandemic-fueled gains, when luxury shopping supplanted spending on dining and entertainment, slowing sales — especially in the key Chinese market — cost the three billionaires a total of $71 billion.

-Colin Huang: Huang had the biggest wealth decline among Chinese billionaires. The e-commerce mogul behind Temu briefly became China’s richest person in August, but ended the year down $18 billion after a lackluster earnings report sent his company’s shares plummeting 29% in a single day.

-Ricardo Salinas: The chairman of Grupo Elektra SAB, a Mexican retail and banking conglomerate, lost more than half of his net worth in a single day after his company’s stock tanked following Salinas’ claims that he was scammed by a former financial adviser. Salinas announced he would be taking the company private last week.

-Carlos Slim: Slim, who has major stakes in Latin American businesses across the telecom, banking, construction and energy sectors, saw his net worth decline by $26 billion in 2024. His wealth was hurt by exchange rates — the peso fell about 20% after years of relative strength — and flagging markets after leftist candidate Claudia Sheinbaum’s June victory in Mexico’s presidential election.

-Pham Nhat Vuong: The Vietnamese mogul, who has holdings in property development, retail and health care, saw shares in his electric vehicle company Vinfast Auto Ltd. fall about 70% early in the year after losses widened and the market soured on its aggressive expansion plans. The stock has since recovered some ground, but the decline cost Vuong nearly half of his fortune.

 

https://archive.is/q4ey9#selection-1923.0-1955.155

Anonymous ID: 3b4445 Dec. 31, 2024, 2:03 p.m. No.22265169   🗄️.is 🔗kun

World’s 500 Richest People Surpassed $10 Trillion in Wealth This Year

 

The world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined $10 trillion net worth.

 

An indomitable rally in US technology stocks played a key role in turbocharging the trio’s wealth, as well as the fortunes of Larry Ellison, Jeff Bezos, Michael Dell and Google co-founders Larry Page and Sergey Brin. The eight tech titans alone gained more than $600 billion this year, 43% of the $1.5 trillion increase among the 500 richest people tracked by the Bloomberg Billionaires Index.

 

But it was Musk — the so-called “first buddy” of President-elect Donald Trump after unprecedented support for his reelection campaign — who dominated the world’s wealthiest in 2024.

 

His close relationship with the incoming president helped increase the value of his companies, including Tesla Inc., SpaceX and xAI. That boosted his fortune to an unprecedented $442.1 billion, up $213 billion from the beginning of the year. The $237 billion gap between him and Bezos on Dec. 17 was the largest ever recorded between the first- and second-ranked names on Bloomberg’s wealth index.

 

Across the board, the world’s wealthiest benefited from a stock market that defied expectations in 2024. The S&P 500 Index gained 24% through Monday, powered by the small group of stocks dubbed the “Magnificent Seven,” including Musk’s Tesla, Zuckerberg’s Meta Platforms Inc. and Huang’s Nvidia Corp., which accounted for more than half of the stock benchmark’s performance.

 

Trump’s election win added to the gains: The S&P 500 hit a then all-time high on Nov. 6 in its best post-Election Day performance in history. The billionaires represented on the index gained a combined $505 billion in the five weeks following the election, 34% of the yearly total.

 

Trump’s victory also sparked a historic rally for digital assets, pushing Bitcoin above $100,000 for the first time. That especially boosted crypto billionaires: Binance Holdings’ Changpeng Zhao, known as CZ, saw his wealth surge 60% to $55 billion. The net worth of Coinbase Global Inc. co-founder Brian Armstrong rose more than 50% to $11.1 billion.

 

The total value of the fortunes tracked by the Bloomberg Billionaires Index was $9.8 trillion at Monday’s close, down slightly from a Dec. 11 peak of $10.1 trillion following a post-Christmas selloff. Their wealth is similar in size to last year’s combined gross domestic products of Germany, Japan and Australia, according to data compiled by the World Bank.

 

Here are some of this year’s biggest winners and losers:

 

Winners

 

-Donald Trump: The president-elect’s fortune soared to record highs this year, boosted by the performance of his majority stake in Trump Media & Technology Group Corp. Despite reporting a $19.2 million loss last quarter, DJT, as the social-media company is known, gained 95% this year, to a current market value of over $7 billion.

 

-Jensen Huang: Nvidia CEO Huang has been one of the biggest individual winners of the AI boom so far, adding $76 billion to his net worth this year. Nvidia’s stock nearly tripled in 2024, and it became the world’s most valuable company for the first time in June.

 

Mark Zuckerberg: Despite a blockbuster $841 million antitrust fine from the EU and early-year hesitation from investors about the company’s multibillion-dollar AI push, the Meta CEO added $81 billion to his net worth this year as Meta stock gained nearly 70%.

 

-Chinese billionaires: Chinese billionaires, including Tencent Holdings Ltd. CEO Pony Ma, Xiaomi Corp. Chairman Lei Jun and Cambricon Technologies Corp. co-founder Chen Tianshi, added 14% to their fortunes in 2024. Their gains reversed three straight years of losses spurred by an ongoing property crisis and government clampdowns on powerful tech firms.

 

-Billionaires under age 60: The younger billionaires on the list grew their wealth more than twice as much as their older counterparts this year. Billionaires under 60 make up 27% of the index.

 

Losers

 

-French luxury billionaires: The fortunes of Bernard Arnault, Francoise Bettencourt Meyers and Francois Pinault, whose wealth comes from holdings in the luxury goods sector, took big losses in 2024. After years of pandemic-fueled gains, when luxury shopping supplanted spending on dining and entertainment, slowing sales — especially in the key Chinese market — cost the three billionaires a total of $71 billion.

 

-Colin Huang: Huang had the biggest wealth decline among Chinese billionaires. The e-commerce mogul behind Temu briefly became China’s richest person in August, but ended the year down $18 billion after a lackluster earnings report sent his company’s shares plummeting 29% in a single day.

 

-Ricardo Salinas: The chairman of Grupo Elektra SAB, a Mexican retail and banking conglomerate, lost more than half of his net worth in a single day after his company’s stock tanked following Salinas’ claims that he was scammed by a former financial adviser. Salinas announced he would be taking the company private last week.

 

-Carlos Slim: Slim, who has major stakes in Latin American businesses across the telecom, banking, construction and energy sectors, saw his net worth decline by $26 billion in 2024. His wealth was hurt by exchange rates — the peso fell about 20% after years of relative strength — and flagging markets after leftist candidate Claudia Sheinbaum’s June victory in Mexico’s presidential election.

 

-Pham Nhat Vuong: The Vietnamese mogul, who has holdings in property development, retail and health care, saw shares in his electric vehicle company Vinfast Auto Ltd. fall about 70% early in the year after losses widened and the market soured on its aggressive expansion plans. The stock has since recovered some ground, but the decline cost Vuong nearly half of his fortune.

 

https://archive.is/q4ey9#selection-1923.0-1955.155

Anonymous ID: 3b4445 Dec. 31, 2024, 2:04 p.m. No.22265182   🗄️.is 🔗kun   >>5286 >>5365 >>5626 >>5714

World’s 500 Richest People Surpassed $10 Trillion in Wealth This Year

 

The world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined $10 trillion net worth.

 

An indomitable rally in US technology stocks played a key role in turbocharging the trio’s wealth, as well as the fortunes of Larry Ellison, Jeff Bezos, Michael Dell and Google co-founders Larry Page and Sergey Brin. The eight tech titans alone gained more than $600 billion this year, 43% of the $1.5 trillion increase among the 500 richest people tracked by the Bloomberg Billionaires Index.

 

But it was Musk — the so-called “first buddy” of President-elect Donald Trump after unprecedented support for his reelection campaign — who dominated the world’s wealthiest in 2024.

 

His close relationship with the incoming president helped increase the value of his companies, including Tesla Inc., SpaceX and xAI. That boosted his fortune to an unprecedented $442.1 billion, up $213 billion from the beginning of the year. The $237 billion gap between him and Bezos on Dec. 17 was the largest ever recorded between the first- and second-ranked names on Bloomberg’s wealth index.

 

Across the board, the world’s wealthiest benefited from a stock market that defied expectations in 2024. The S&P 500 Index gained 24% through Monday, powered by the small group of stocks dubbed the “Magnificent Seven,” including Musk’s Tesla, Zuckerberg’s Meta Platforms Inc. and Huang’s Nvidia Corp., which accounted for more than half of the stock benchmark’s performance.

 

Trump’s election win added to the gains: The S&P 500 hit a then all-time high on Nov. 6 in its best post-Election Day performance in history. The billionaires represented on the index gained a combined $505 billion in the five weeks following the election, 34% of the yearly total.

 

Trump’s victory also sparked a historic rally for digital assets, pushing Bitcoin above $100,000 for the first time. That especially boosted crypto billionaires: Binance Holdings’ Changpeng Zhao, known as CZ, saw his wealth surge 60% to $55 billion. The net worth of Coinbase Global Inc. co-founder Brian Armstrong rose more than 50% to $11.1 billion.

 

The total value of the fortunes tracked by the Bloomberg Billionaires Index was $9.8 trillion at Monday’s close, down slightly from a Dec. 11 peak of $10.1 trillion following a post-Christmas selloff. Their wealth is similar in size to last year’s combined gross domestic products of Germany, Japan and Australia, according to data compiled by the World Bank.

 

Here are some of this year’s biggest winners and losers:

 

''Winners''

-Donald Trump: The president-elect’s fortune soared to record highs this year, boosted by the performance of his majority stake in Trump Media & Technology Group Corp. Despite reporting a $19.2 million loss last quarter, DJT, as the social-media company is known, gained 95% this year, to a current market value of over $7 billion.

-Jensen Huang: Nvidia CEO Huang has been one of the biggest individual winners of the AI boom so far, adding $76 billion to his net worth this year. Nvidia’s stock nearly tripled in 2024, and it became the world’s most valuable company for the first time in June.

-Mark Zuckerberg: Despite a blockbuster $841 million antitrust fine from the EU and early-year hesitation from investors about the company’s multibillion-dollar AI push, the Meta CEO added $81 billion to his net worth this year as Meta stock gained nearly 70%.

-Chinese billionaires: Chinese billionaires, including Tencent Holdings Ltd. CEO Pony Ma, Xiaomi Corp. Chairman Lei Jun and Cambricon Technologies Corp. co-founder Chen Tianshi, added 14% to their fortunes in 2024. Their gains reversed three straight years of losses spurred by an ongoing property crisis and government clampdowns on powerful tech firms.

-Billionaires under age 60: The younger billionaires on the list grew their wealth more than twice as much as their older counterparts this year. Billionaires under 60 make up 27% of the index.

 

''Losers''

-French luxury billionaires: The fortunes of Bernard Arnault, Francoise Bettencourt Meyers and Francois Pinault, whose wealth comes from holdings in the luxury goods sector, took big losses in 2024. After years of pandemic-fueled gains, when luxury shopping supplanted spending on dining and entertainment, slowing sales — especially in the key Chinese market — cost the three billionaires a total of $71 billion.

-Colin Huang: Huang had the biggest wealth decline among Chinese billionaires. The e-commerce mogul behind Temu briefly became China’s richest person in August, but ended the year down $18 billion after a lackluster earnings report sent his company’s shares plummeting 29% in a single day.

-Ricardo Salinas: The chairman of Grupo Elektra SAB, a Mexican retail and banking conglomerate, lost more than half of his net worth in a single day after his company’s stock tanked following Salinas’ claims that he was scammed by a former financial adviser. Salinas announced he would be taking the company private last week.

-Carlos Slim: Slim, who has major stakes in Latin American businesses across the telecom, banking, construction and energy sectors, saw his net worth decline by $26 billion in 2024. His wealth was hurt by exchange rates — the peso fell about 20% after years of relative strength — and flagging markets after leftist candidate Claudia Sheinbaum’s June victory in Mexico’s presidential election.

-Pham Nhat Vuong: The Vietnamese mogul, who has holdings in property development, retail and health care, saw shares in his electric vehicle company Vinfast Auto Ltd. fall about 70% early in the year after losses widened and the market soured on its aggressive expansion plans. The stock has since recovered some ground, but the decline cost Vuong nearly half of his fortune.

 

https://archive.is/q4ey9#selection-1923.0-1955.155

Anonymous ID: 3b4445 Dec. 31, 2024, 2:28 p.m. No.22265301   🗄️.is 🔗kun   >>5365 >>5626 >>5714

NFL dominates prime-time TV ratings for 2024 with Super Bowl drawing huge audience and MLB making big comeback

 

75 of the 100 most-watched telecasts over the past year were sporting events, including a record-breaking Super Bowl LVIII.

 

The NFL dominates the list, but there were positive signs for the MLB and NCAA women's basketball over the past twelve months.

 

The February Super Bowl showdown between the Kansas City Chiefs and San Francisco 49ers was a huge draw for audiences.

 

Millions of fans tuned in to watch the Chiefs win back-to-back Lombardi's, making it the most-watched US telecast in history.

 

An average of 120 million viewers viewed the game on CBS, with an average of 123.4 watching across all platforms.

 

Football bosses will be delighted to see 45 NFL broadcasts feature in the Top 100, per Variety.

 

You have to go down to No. 12 before finding a telecast not related to sports.

 

September's presidential debate, held by ABC, raked in 20.3 million viewers.

 

Also on the list are the Oscars, as well as four editions of CBS' 60 Minutes.

 

But otherwise, it was another year sports dominated our screens, with America's appetite for sporting drama seemingly at an all-time high.

 

All five MLB World Series games appear on the list, as neutral fans found themselves drawn to the Los Angeles Dodgers/New York Yankees matchup.

 

And for the first time, the NCAA Men’s Basketball Championship didn’t make the top 100, but the Women’s Championship Game did.

 

The WNBA has enjoyed a bumper year, with the success of rookies Caitlin Clark and Angel Reese driving ratings.

 

Further down the list, America tuned in for the Paris Olympics, where 19 installments made the cut.

 

And four out of five NBA Finals games were also included.

 

In the battle of the networks, it will be executives at NBC who will enjoy reading the list most.

 

The network led with the most slots with 38, up from 24 last year.

 

NBC's rise was driven by its primetime Sunday Night Football slot and stellar Olympics coverage.

 

Next was CBS with 25, then ABC with 12 entries.

 

Rounding out the list, Prime Video had 10, Fox Sports had nine, ESPN came in with five, and Fox News scored one.

 

https://www.the-sun.com/sport/13188749/nfl-prime-time-tv-ratings-super-bowl-mlb-nba/

Anonymous ID: 3b4445 Dec. 31, 2024, 2:32 p.m. No.22265322   🗄️.is 🔗kun   >>5356 >>5365 >>5626 >>5714

Why do we drop a ball on New Year's Eve? The Times Square tradition, explained

 

On the evening of Dec. 31, as in many years past, millions of people around the world will stop what they're doing to watch a 12-foot, 11,875-pound crystal ball slowly descend a New York City flagpole to announce the start of a new year.

 

The Times Square ball drop has been a fixture of New Year's Eve since 1907, when the original wood and iron orb made its maiden journey. It remains a beloved tradition over a century and half a dozen ball redesigns later.

 

The storied ball has been lowered every year — except 1942 and 1943, due to lighting restrictions during World War II (which didn't stop crowds from gathering in Times Square).

 

The New Year's Eve celebration has grown to include a long roster of musical performances and corporate sponsorships, with onlookers returning to the streets in growing numbers after the COVID-19 pandemic forced it online in 2020.

 

It's even inspired offshoots around the U.S., with various cities dropping everything from a giant pine cone and an oversize pickle to a monster-sized Moon Pie and high-heel-riding drag queen.

 

But the Big Apple's big crystal ball has managed to stay at the center of it all. Here's a look at how the spectacle came about and how it's evolved over the years.

 

New Yorkers have celebrated New Year's in Times Square — the bustling intersection of Seventh Avenue, 42nd Street and Broadway in Midtown Manhattan — since it got its name in 1904.

 

That year, the New York Times moved its headquarters to the new Times Building (now known as One Times Square). The paper's owner, Adolph Ochs, successfully lobbied the city to rename the area, previously known as Longacre Square.

 

As legend — aka the Times Square District Management Association — has it, Ochs "spared no expense" throwing a New Year's Eve celebration to commemorate the headquarters' opening, with an all-day street festival and extravagant fireworks display.

 

The party was a smashing success, cementing Times Square's status as the place to ring in the new year. But two years later, the city banned the fireworks display.

 

Undeterred, Ochs looked for a way to outdo himself for the 1907-1908 event — and found it.

 

Ochs asked the Times' chief electrician, Walter Palmer, to come up with a New Year's Eve spectacle that didn't involve ashy firework debris raining down on revelers.

 

According to a 1965 piece in Newsday (Nassau Edition), Palmer was inspired by the clock on the downtown Western Union Telegraph Company building, which for decades had dropped an iron ball from its rooftop every day at noon.

 

That harkens back to a longstanding maritime tradition of ports dropping a ball at a specific time every day, allowing ship captains to precisely adjust their navigational instruments. Famous examples include England's Royal Observatory, Greenwich and the U.S. Naval Observatory in Washington, D.C. — both of which still lower balls daily (at 1 p.m. and noon, respectively).

 

Palmer devised an even bigger production, ultimately covering a 700-pound ball of iron and wood with 100 light bulbs to descend a pole that stood 50 feet above the 400-foot tower.

 

The ball was built by a young immigrant metalworker named Jacob Starr, whose company, Artkraft Strauss, would go on to lower the ball for most of the 20th century — a process that was done by hand using more than half a dozen men and a length of rope.

 

The New York Times detailed its debut on Dec. 31, 1907:

 

“At 10 minutes to midnight, the whistles on every boiler in Manhattan, the Bronx, Brooklyn, and the waters thereof began to screech. Tens of thousands stood watching the electric ball. And then — it fell. The great shout that went up drowned out the whistles for a minute. The vocal power of the welcomers rose above even the horns and the cow bells and the rattles. Above all else came the wild human hullabaloo of noise, out of which could be formed dimly the words: ‘Hurrah for 1908.’”

 

Interestingly, the final 10-second countdown didn't become part of the tradition until many decades later. As NPR has reported, it wasn't until the 1960s that some TV announcers started a countdown, and the Times Square crowd only joined them in 1979.

 

A lot has changed since that first ball drop, including the ball itself.

 

The original orb was replaced with a 400-pound iron ball in 1940. In 1955, it was upgraded to a 150-pound aluminum ball with 180 light bulbs. Red light bulbs and a green stem transformed the ball into an apple for the "I Love New York" campaign for seven years in the 1980s.

 

The ball got aluminum skin, rhinestones, strobes, and computer controls in the late 1990s, and its now-signature crystal triangles (courtesy of Waterford Crystal) at the turn of the millennium.

 

The ball was lowered by hand until the mid-1990s; now it is timed electronically using an atomic clock based in Colorado (but New York City's mayor and other special guests still get the honor of pushing the ceremonial button).

 

"My first year, we decided to go computer controls, electronic winch, tied into the atomic clock in Colorado and unfortunately the ball was about three seconds late … first screwup of 1996," Jeff Strauss, president of Countdown Entertainment, told member station WBGO in 2017. "Since then, I gotta say, we've been doing it really well."

 

On its 100th anniversary in 2007, the ball's incandescent light bulbs were replaced with LED lighting, allowing for more brightness and color capabilities. The following year One Times Square put its permanent "Big Ball" on public display, making it a year-round fixture.

 

The ownership and occupants of the 26-story building have also changed since the tradition began.

 

The New York Times relocated nearby in 1914, and sold its former headquarters to a developer in 1961. The Allied Chemical Company bought and renovated the building shortly after, and the office building changed hands multiple times over the following decades.

 

One Times Square is currently owned by real estate investment and management company Jamestown L.P., which in 2022 announced a $500 million plan to modernize the building into a "21st century visitor center for New York City," including a museum and viewing deck.

 

Construction is expected to end in 2025 — all the more reason to look forward to the new year.

 

https://www.npr.org/2024/12/31/nx-s1-5235245/new-years-eve-ball-drop-times-square

Anonymous ID: 3b4445 Dec. 31, 2024, 2:33 p.m. No.22265329   🗄️.is 🔗kun   >>5365 >>5626 >>5714

House Ethics Committee closes investigations into 4 members

 

The Ethics Committee did not find that fund misuse was intentional and unanimously decided to close the cases and declined to take further action.

 

The House Ethics Committee closed investigations into at least four members Monday for violating campaign finance rules.

 

The investigations involved Reps. Sanford Bishop (D-Ga.), Wesley Hunt (R-Tex.), Ronny Jackson (R-Tex.), Alex Mooney (R-W.Va.) and “other confidential matters that have been under review.” The committee declined to disclose further details on those cases.

 

The House panel found that, in at least some of those cases, “evidence that the Member’s campaign did not fully comply with the applicable standards relating to personal use of campaign funds, as well as reporting or recordkeeping requirements for campaign expenditures.” But the Ethics Committee did not find that misuse was intentional and unanimously decided to close the cases, declining to take further action.

 

House lawmakers cannot use campaign funds for personal matters, but the committee noted in its press release that existing rules under the Federal Election Commission are unclear and released updated rules on campaign expenses. Although the panel will not take disciplinary action, it did provide those lawmakers who were investigated with updated guidance and recommendations for their campaign spending.

 

Bishop was accused of allegedly misusing tens of thousands of dollars in official and campaign funds. The Office of Congressional Ethics, or OCE, referred Jackson to the committee in March, after finding evidence that his campaign committee had allegedly spent thousands of dollars at a private dining club called the Amarillo Club. OCE also referred Hunt in March over allegations that he used campaign funds to access a social club called the Oak Room. OCE referred Mooney to the committee in late 2021 for allegations over accepting a trip to Aruba.

 

In a statement, Jackson hailed the Ethics Committee’s conclusion as evidence that exonerated him from the charges, saying that he did not use funds for personal use.

 

“I am glad to put this ridiculous, partisan, and politically motivated matter behind me, and I am looking forward to working alongside President Trump to improve the lives of my constituents and all Americans,” he said.

 

The announcement comes on the heels of the public release of the Ethics Committee’s report into former Rep. Matt Gaetz, which found evidence that he allegedly had sexual relations with a minor and used illegal drugs. Gaetz has denied all allegations.

 

https://www.politico.com/live-updates/2024/12/30/congress/house-ethics-closes-investigations-00196146

Anonymous ID: 3b4445 Dec. 31, 2024, 2:34 p.m. No.22265336   🗄️.is 🔗kun   >>5365 >>5404 >>5626 >>5714

Ken Cuccinelli II

@KenCuccinelli

Here's an H1B visa stat for you:

 

Last year, the top 30 H-1B visa employers laid off 84,556 people at the same time as they sought 34,414 new H1-B foreign workers. This includes firms such as @elonmusk's Tesla.

 

https://x.com/KenCuccinelli/status/1873823762149454180

Anonymous ID: 3b4445 Dec. 31, 2024, 2:57 p.m. No.22265470   🗄️.is 🔗kun   >>5626 >>5714

Costco is fighting to keep its DEI program as major companies roll back initiatives

 

Costco’s (COST) Board of Trustees is standing firm as many of the biggest companies in the U.S. scale back or scrap their diversity, equity, and inclusion (DEI) initiatives.

 

The company has urged shareholders to reject a proposal from the National Center for Public Policy Research, which calls for an end to Costco’s DEI programs. The proposal argues that these initiatives are discriminatory and financially risky.

 

“It’s clear that DEI holds litigation, reputational and financial risks to the Company, and therefore financial risks to shareholders,” the conservative think tank said in its statement of support.

 

The think tank argues that Costco is sticking to a “discriminatory” DEI program, despite the broader trend of companies cutting back on such initiatives. They note that Costco recently rebranded its DEI program to “People and Communities,” but they believe this just a “new label” for the same practices — including hiring and promoting based on race and sex, and selecting suppliers for similar reasons.

 

Meanwhile, Costco’s Board of Directors is firmly against the proposal. They argue that their DEI efforts are not only good for business, but also reflect the company’s core values of inclusion and respect.

 

Costco insists that its DEI program helps attract and retain talented employees, fosters innovation, and strengthens relationships with customers and suppliers. Additionally, the company says that its DEI policies fully comply with the law, including recent Supreme Court rulings.

 

In a unanimous vote, the Board urges shareholders to reject the proposal. Shareholders will vote on it at the Annual Meeting on Jan. 23.

 

“We welcome members from all walks of life,” Costco’s Board of Directors said. “As our membership diversifies, we believe that having a diverse team improves satisfaction. A diverse workforce brings creativity to our products, better understands customer preferences, and reflects the diverse backgrounds of the members we serve.”

 

The National Center for Public Policy Research’s proposal cites the recent SFFA v. Harvard Supreme Court ruling, which struck down race-based admissions policies, suggesting it could jeopardize the legality of corporate DEI programs that factor in race and gender for hiring, promotions, and supplier selections. Since the ruling, several companies have faced lawsuits over their DEI practices, including Starbucks (SBUX), which was hit with a $25 million lawsuit for discriminating against a white employee.

 

Proponents of the Costco proposal warn that the company could be vulnerable to similar legal challenges, especially since its DEI program emphasizes “equity” and includes a Chief Diversity Officer.

 

The timing of this proposal is notable. As DEI comes under increasing scrutiny across the corporate world, many large companies have started rolling back their commitments. Companies like Google (GOOGL), Meta (META), Microsoft, Walmart, and Zoom have all reduced their DEI staffing and/or programs. Companies including John Deere and Tractor Supply (TSCO) have publicly scaled back their DEI initiatives, saying they are reassessing their strategies.

 

As DEI policies face mounting scrutiny, this shareholder proposal is just the latest example of the ongoing going debate over the future of diversity programs in corporate America.

 

Shareholders will vote on whether to support the proposal at Costco’s Annual Meeting. If it passes, Costco will be required to conduct the requested evaluation. However, if the Board’s recommendation to vote against it prevails, the company will continue with its DEI policies as they are. The outcome could serve as a bellwether, signaling whether other companies will follow Costco’s lead or continue the trend of scaling back their DEI commitments.

 

https://finance.yahoo.com/news/costco-fighting-keep-dei-program-165300706.html

Anonymous ID: 3b4445 Dec. 31, 2024, 3:25 p.m. No.22265657   🗄️.is 🔗kun   >>5714

Romania cancels election results after Populist candidate wins

 

Romanian intelligence chiefs should be fired for creating an “ambiguous” report used by judges to annul the country’s general election results, a leading candidate has said.

 

Speaking exclusively to The Telegraph, Elena Lasconi took aim at “intelligence agencies, police, prosecutors, and even the internal revenue service” for their roles in a shambolic election process which ended in its cancellation.

 

The first-round result last month caused a political earthquake in the former communist country.

 

Polls had suggested that the incumbent centre-Left party led by Marcel Ciolacu, the prime minister, would easily win. However, Calin Georgescu, a pro-Russian critic of Nato, took 23 per cent of the vote share and surged into the lead.

 

Ms Lasconi, from the pro-European Save Romania Union (USR) party came second with 19 per cent, securing a place in the run-off.

 

The shock result sparked an investigation by intelligence agencies who allege that Romania was the target of “aggressive hybrid Russian attacks,” including on social media.

 

Mr Georgescu, who believes the moon landing was faked and that Covid-19 was not real, campaigned heavily on TikTok. His videos were viewed millions of times and his messages were amplified by tens of thousands of users – some of whom said they were paid.

 

Intelligence agencies claimed that Mr Georgescu’s surge in popularity was due to a “highly organised” and “guerrilla” messaging strategy co-ordinated by a “state actor.” They also questioned whether Georgescu had benefited from undeclared financing – which would be illegal. Mr Georgescu has denied any wrongdoing.

 

The report released by Romania’s Supreme Council of National Defense (CSAT), referenced Russia as a source of “aggressive hybrid actions, including cyberattacks and disinformation.” However, it stopped short of providing detailed evidence linking Russian interference to the election results.

 

Now, critics say that the evidence is thin and does not warrant the result being cancelled.

 

And Mr Georgescu has now found an unlikely ally in his opponent, Ms Lasconi.

 

The court’s decision was “illegal, immoral, and crushes the very essence of our democracy,” she said.

 

“Intelligence agencies, police, prosecutors, and even the internal revenue service – all of them failed to intervene when they needed to. Some people should pay the price for letting this happen under their watch,” she told The Telegraph.

 

“I haven’t yet seen one person in charge within the intelligence community being fired or quitting their job.”

 

“People demand answers, and more than a week later these details are not convincing,” Ms Lasconi added, calling the evidence “ambiguous”.

 

Posts that were amplified showed Mr Georgescu on the running track, throwing opponents in judo and riding a white horse in a traditional Romanian shirt.

 

Romanian lawyer Adrian Calin echoed public frustration with the vote’s annulment: “It is obvious that more is needed,” he said. “The exposure we have seen so far is not enough to justify such intrusive decisions as cancelling the popular vote.”

 

TikTok, which is headquartered in China, denies deliberately amplifying Georgescu’s account and being opaque about who is funding his campaign, but the European Commission has launched formal proceedings against the company because of “serious indications” of foreign interference and for breaching the Digital Services Act (DSA).

 

Apparent failures by Romanian intelligence agencies to act before the election have also been highlighted. The declassified files show that Romanian Tiktok influencers were contacted by FA Agency, a South African company offering €1,000 for videos promoting Georgescu. In total, some $381,000 had reportedly been funnelled to influencers on Tiktok via a Romanian cryptocurrency millionaire, on the basis that they made content supporting Mr Georgescu.

 

Another dark dynamic emerged in the days after the vote cancellation. Horațiu Potra, a Wagner-style mercenary leader, was arrested while en route to Bucharest along with a gang of 20 heavily-armed men.

 

Potra spent the eve of the cancelled vote with Mr Georgescu and was feared to be heading to the capital with plans to incite unrest. Despite photographic evidence showing the men together, Mr Georgescu initially denied knowing Potra – who was in the French Foreign Legion and then worked as a military contractor in the Democratic Republic of Congo.

 

“We now have a very polarised society, something that I have never experienced, not even during the turbulent 90s,” Ms Lasconi told The Telegraph, describing the growing tensions in Romania.

 

George Simion, the leader of Romania’s Right-wing AUR party, which gained nearly 14 per cent of the vote in the first round, has called for the resignation of current President Klaus Iohannis and the judges of the Constitutional Court, accusing them of orchestrating a “coup d’état” by cancelling the vote. Mr Iohannis has said he will remain in the position until a new president is elected next year.

 

Romania’s situation has drawn comparisons to Moldova and Georgia, both of which faced Russian election interference this year. “The scheme Georgescu used to promote himself on TikTok is reminiscent of Russian ways. All these things should have had answers well before the Constitutional Court intervened and annulled the elections”, Lasconi told the Telegraph, highlighting Romania’s position in the geopolitical “buffer zone” which covers the three countries.

 

“We, the Moldovans, and the Georgians live inside this buffer that Russia feels compelled to control every now and then. Therefore, we constantly need to do things to avoid being sucked into the vortex of Russian influence,” she said. “If anyone thinks the Russians are giving up, think again”.

 

https://www.yahoo.com/news/romanian-presidential-candidate-says-intelligence-070200761.html

Anonymous ID: 3b4445 Dec. 31, 2024, 3:26 p.m. No.22265661   🗄️.is 🔗kun

Russia fails to persuade Saudi Arabia and Turkey to join BRICS

 

Russia, in the final days of its BRICS chairmanship, has succeeded in recruiting nine new partner countries for the geopolitical bloc but has failed to secure deals with key targets such as Saudi Arabia and Turkey.

Despite months of effort from Russian leaders, the Saudi and Turkish governments are both still stalling their decisions on invitations to affiliate with the bloc, in which Russia and China play leading roles.

Turkey’s decision has been closely watched because it would have been the first member of the North Atlantic Treaty Organization to be associated with BRICS.

The BRICS group has emerged as a rising rival to the Western-dominated G7 group of countries in recent years. The nine-member bloc, which represents almost half of the world’s population and about a quarter of the global economy, is working on a new global payments system to bypass Western sanctions in the banking sector.

The group’s name is an acronym for its earliest members: Brazil, Russia, India, China and South Africa. It expanded last year to include Ethiopia, Egypt, Iran, and the United Arab Emirates.

On Wednesday, nine new countries will join the bloc as partner states – one level below full membership – when Russia hands over the rotating BRICS leadership to Brazil, officials in Moscow said last week. The new partners are Indonesia, Malaysia, Cuba, Belarus, Kazakhstan, Uzbekistan, Bolivia, Thailand and Uganda.

But four other countries – Turkey, Nigeria, Vietnam and Algeria – were invited to become partner states at the latest BRICS summit in October and have not accepted so far. None has stated publicly any reasons for the decision.

Saudi Arabia, meanwhile, was invited to become a full member of the bloc in 2023, and Moscow had publicly counted the oil-rich country as a member. But later, the Saudi government said it was still considering the matter, and it has now decided to suspend its decision, Russian officials said last week.

Patrick Bond, a scholar at the University of Johannesburg who studies BRICS, wrote this weekend that Western pressure is probably one reason why some of the countries have not accepted the BRICS invitation.

In a sign of growing Western unease with the fast-growing bloc, U.S. president-elect Donald Trump last month threatened to impose tariffs of 100 per cent on imports from BRICS countries if the group does anything to weaken the U.S. dollar’s traditional dominance in global trade.

“We require a commitment from these countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty U.S. dollar, or they will face 100-per-cent tariffs,” Mr. Trump said in a social-media post on Nov. 30.

In fact, the creation of a BRICS currency is extremely unlikely and could only be a long-term possibility, the bloc’s members say. Instead, they are hoping that a growing share of trade among BRICS members can be conducted in the national currencies of its member states rather than the U.S. dollar.

Over the past year, Russia has exploited its role as chair of BRICS to forge closer relations with dozens of Global South countries. It held more than 250 events in Russia for BRICS members and other interested countries and businesses.

Despite its failure to secure deals with Saudi Arabia, Turkey and others, Moscow still seems pleased with the results of its lobbying efforts. “BRICS has become extremely popular,” Russian Foreign Minister Sergei Lavrov told journalists last week.

He noted that 35 countries had sent delegations to the BRICS summit in Russia in October. “This high level of attendance demonstrates how important this structure has become and that there is a growing interest for forging closer ties with BRICS.”

Countries such as Saudi Arabia, however, are reluctant to join an organization that could antagonize Washington. “Saudi Arabia cannot risk alienating China or Russia, but it also cannot afford to burden its relationships with the West by in any way endorsing China and Russia’s attempts to build an anti-Western bloc,” scholars Oliver Stuenkel and Margot Treadwell wrote in an analysis for the Carnegie Endowment last month.

“Instead, Saudi Arabia has chosen a tricky balancing act of an ambiguous approach to BRICS that leaves it room to adapt to changing global conditions, including the coming U.S. leadership change.”

 

https://archive.is/hLD1P#selection-2789.0-2861.196

Anonymous ID: 3b4445 Dec. 31, 2024, 3:27 p.m. No.22265668   🗄️.is 🔗kun   >>5714

The Carter Center

@CarterCenter

Jimmy Carter to lie in state at U.S. Capitol

 

https://x.com/CarterCenter/status/1873781127753982354

Anonymous ID: 3b4445 Dec. 31, 2024, 3:28 p.m. No.22265670   🗄️.is 🔗kun   >>5714

Russia fails to persuade Saudi Arabia and Turkey to join BRICS

 

Russia, in the final days of its BRICS chairmanship, has succeeded in recruiting nine new partner countries for the geopolitical bloc but has failed to secure deals with key targets such as Saudi Arabia and Turkey.

 

Despite months of effort from Russian leaders, the Saudi and Turkish governments are both still stalling their decisions on invitations to affiliate with the bloc, in which Russia and China play leading roles.

 

Turkey’s decision has been closely watched because it would have been the first member of the North Atlantic Treaty Organization to be associated with BRICS.

 

The BRICS group has emerged as a rising rival to the Western-dominated G7 group of countries in recent years. The nine-member bloc, which represents almost half of the world’s population and about a quarter of the global economy, is working on a new global payments system to bypass Western sanctions in the banking sector.

 

The group’s name is an acronym for its earliest members: Brazil, Russia, India, China and South Africa. It expanded last year to include Ethiopia, Egypt, Iran, and the United Arab Emirates.

 

On Wednesday, nine new countries will join the bloc as partner states – one level below full membership – when Russia hands over the rotating BRICS leadership to Brazil, officials in Moscow said last week. The new partners are Indonesia, Malaysia, Cuba, Belarus, Kazakhstan, Uzbekistan, Bolivia, Thailand and Uganda.

 

But four other countries – Turkey, Nigeria, Vietnam and Algeria – were invited to become partner states at the latest BRICS summit in October and have not accepted so far. None has stated publicly any reasons for the decision.

 

Saudi Arabia, meanwhile, was invited to become a full member of the bloc in 2023, and Moscow had publicly counted the oil-rich country as a member. But later, the Saudi government said it was still considering the matter, and it has now decided to suspend its decision, Russian officials said last week.

 

Patrick Bond, a scholar at the University of Johannesburg who studies BRICS, wrote this weekend that Western pressure is probably one reason why some of the countries have not accepted the BRICS invitation.

 

In a sign of growing Western unease with the fast-growing bloc, U.S. president-elect Donald Trump last month threatened to impose tariffs of 100 per cent on imports from BRICS countries if the group does anything to weaken the U.S. dollar’s traditional dominance in global trade.

 

“We require a commitment from these countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty U.S. dollar, or they will face 100-per-cent tariffs,” Mr. Trump said in a social-media post on Nov. 30.

 

In fact, the creation of a BRICS currency is extremely unlikely and could only be a long-term possibility, the bloc’s members say. Instead, they are hoping that a growing share of trade among BRICS members can be conducted in the national currencies of its member states rather than the U.S. dollar.

 

Over the past year, Russia has exploited its role as chair of BRICS to forge closer relations with dozens of Global South countries. It held more than 250 events in Russia for BRICS members and other interested countries and businesses.

 

Despite its failure to secure deals with Saudi Arabia, Turkey and others, Moscow still seems pleased with the results of its lobbying efforts. “BRICS has become extremely popular,” Russian Foreign Minister Sergei Lavrov told journalists last week.

 

He noted that 35 countries had sent delegations to the BRICS summit in Russia in October. “This high level of attendance demonstrates how important this structure has become and that there is a growing interest for forging closer ties with BRICS.”

 

Countries such as Saudi Arabia, however, are reluctant to join an organization that could antagonize Washington. “Saudi Arabia cannot risk alienating China or Russia, but it also cannot afford to burden its relationships with the West by in any way endorsing China and Russia’s attempts to build an anti-Western bloc,” scholars Oliver Stuenkel and Margot Treadwell wrote in an analysis for the Carnegie Endowment last month.

 

“Instead, Saudi Arabia has chosen a tricky balancing act of an ambiguous approach to BRICS that leaves it room to adapt to changing global conditions, including the coming U.S. leadership change.”

 

https://archive.is/hLD1P#selection-2789.0-2861.196

Anonymous ID: 3b4445 Dec. 31, 2024, 3:31 p.m. No.22265693   🗄️.is 🔗kun   >>5714

Japan and U.S. strengthen agreement on nuclear weapons

 

TOKYO – Japan and the United States will communicate regarding Washington’s possible use of nuclear weapons in the event of a contingency, the two governments have stipulated in their first-ever guidelines for so-called extended deterrence, The Yomiuri Shimbun has learned.

 

According to Japanese government sources, Japan will convey its requests to the United States via the Alliance Coordination Mechanism (ACM), through which the Self-Defense Forces and U.S. forces maintain contact with each other.

 

Establishing such an operational framework is aimed at strengthening the U.S. nuclear umbrella that protects Japan and enhancing its deterrence capabilities against North Korea and China.

 

Against North Korea, China

 

The Foreign Ministry announced the formulation of the guidelines Friday but had not disclosed the details, as they contain classified military intelligence.

 

The U.S. president, who is also the commander in chief of U.S. forces, has the sole authority to authorize a nuclear attack. Before the completion of the guidelines, no written statement existed that said Japan was allowed to pass on its views to the United States regarding Washington’s possible use of nuclear weapons.

 

Extended deterrence is a security policy aimed at preventing a third country from attacking an ally by demonstrating a commitment to retaliate not only in the event of an armed attack on one’s own country, but also in the event of an attack on an ally.

 

Responding to North Korea’s nuclear development program and China’s military buildup, the Japanese and U.S. governments in 2010 began holding working-level consultations in which their foreign and defense officials meet regularly to discuss nuclear deterrence and other issues. Japan has expressed its stance on the use of nuclear weapons in the meetings.

 

The two countries will exchange views on Washington’s use of nuclear weapons also in the framework of the ACM, which was set up in normal times under the revised Guidelines for Japan-U.S. Defense Cooperation in 2015.

 

Under the ACM, discussions are designed to take place both by the Alliance Coordination Group, comprising director general-level officials of the diplomatic and defense authorities, and by the Bilateral Operations Coordination Center, involving senior officials of the SDF and U.S. forces. If necessary, high-level discussions involving Cabinet members are also expected to be held.

 

This system will enable Japan to convey its views to the United States on Washington’s potential use of nuclear weapons at all stages, from normal times to contingencies.

 

The environment surrounding nuclear weapons is deteriorating. Russia has hinted at the possibility of using nuclear weapons in its ongoing aggression against Ukraine.

 

In East Asia, North Korea conducted its sixth nuclear test in 2017 and has greatly improved its ballistic missile capabilities. China is expected to possess more than 1,000 operational nuclear warheads by 2030.

 

Prime Minister Shigeru Ishiba said at a plenary session of the House of Councillors on Dec. 3 that he had instructed relevant secretariats to strengthen even further the credibility of the extended U.S. deterrence.

 

Under the newly formulated guidelines, Washington still holds the final decision on the use of nuclear weapons. However, a senior Foreign Ministry official said that the guidelines “have great significance as a message of strengthening deterrence.”

 

https://asianews.network/japan-us-to-communicate-on-possible-use-of-nuclear-weapons/