See, James Dale Davidson and William Rees-Mogg, The Sovereign Individual: Mastering the Transition to the Information Age.
Saturday, April 29, 2023
As E. Jean Carroll Case Proceeds, Donald Trump Is Riding High in the Polls
Heh.
I love it.
At the New York Times, "Rape Case Places Trump in Legal Jeopardy. Politically, He’s Thriving":
The former president’s new campaign is rolling unimpeded under the spotlights. In quiet courtrooms, he faces more serious threats. During E. Jean Carroll’s first day on the witness stand, her lawyer asked what had brought her to a federal courtroom in Manhattan. “I am here because Donald Trump raped me and when I wrote about it, he said it didn’t happen,” Ms. Carroll replied. “He lied and shattered my reputation, and I am here to try to get my life back.” A day later, Mr. Trump, who has denied the attack and called Ms. Carroll a liar, campaigned in New Hampshire, joking to a crowd about his changing nicknames for Hillary Clinton and President Biden. He did not mention Ms. Carroll’s testimony, or the civil trial going on 250 miles away. But he remarked cheerfully on a poll released that day, which showed him far and away leading the 2024 Republican primary field. Since Mr. Trump was indicted last month in a criminal case brought by the Manhattan district attorney’s office, his legal travails and his third presidential campaign have played out on a split screen. The courtroom dramas have taken place without news cameras present, even as the race has returned Mr. Trump to the spotlight that briefly dimmed after he left the Oval Office. Mike Murphy, a Republican political strategist who advised John McCain and Jeb Bush, said that trials and investigations of Mr. Trump often create “a psychological roller coaster for Trump-hating Democrats,” giving them hope that he will be taken down, only to leave them disappointed. Mr. Trump’s legal problems have yet to create significant political problems given the unflinching loyalty of his core supporters. Since Mr. Trump was indicted, his poll numbers have risen. Criminal investigations against him, in Georgia and Washington, as well as Ms. Carroll’s trial and a civil fraud lawsuit brought by the New York attorney general’s office, have done little to hamper him with his supporters. The poll he mentioned Thursday predicted that he would receive 62 percent of the vote in the Republican primary. His closest opponent, Gov. Ron DeSantis of Florida, who has not yet declared that he is running, was polling at 16 percent. But the investigations could cause Mr. Trump real harm. If he is convicted in Manhattan, where he pleaded not guilty to 34 felony charges of falsifying business records, he could face up to four years in prison. Criminal charges in Georgia and Washington could come with steeper punishments. And the New York attorney general’s lawsuit against him — which accused him of deceiving lenders and insurers by fraudulently overvaluing his assets — could exact a heavy financial toll. No matter the outcome, any direct connection between Mr. Trump’s legal fate in the rape case and his political fortunes is tenuous. But Ms. Carroll’s lawyers have reshaped a political bombshell from 2016 into a potent legal weapon: They plan to use the “Access Hollywood” tape on which Mr. Trump boasts about grabbing women by the genitals as the basis for a compelling story about a self-styled playboy man-about-town whose modus operandi was assaulting women. Mr. Trump said on the tape that “when you’re a star, they let you do it.” When the comments became public during the 2016 election, Mr. Trump characterized them as “locker room banter” and after his victory, they became an example of his apparent immunity to scandal. In the courtroom, which Mr. Trump has avoided, Ms. Carroll’s team argued that his words were not to be dismissed, even years after they became public...
Newsmax Ratings Climb After Tucker Carlson’s Exit at Fox
I tried watching Newsmax last summer and I was bored out of my mind. I doubt they'll ever be a peer-competitor network to Fox, but if the latter keeps imploding, you never know.
At the New York Times, "The niche conservative news channel is still small compared with Fox News, but its viewership has doubled and in some time slots even tripled since Tucker Carlson was dismissed":
Newsmax, the niche conservative news channel that has long played David to Fox News’s Goliath, has seized on Tucker Carlson’s shock dismissal from its rival network and declared itself the true TV home for right-wing Americans. So far, the strategy is showing some promise. Viewership of Newsmax remains far below that of Fox News. But its audience at certain hours has doubled, and in some time slots tripled, in the immediate aftermath of Mr. Carlson’s exit — an abrupt spike that has turned heads in conservative circles and the cable news industry. On Monday evening, Eric Bolling’s 8 p.m. Newsmax program drew 531,000 viewers, according to Nielsen. One week earlier, it had 146,000. On Tuesday, Mr. Bolling’s audience grew to 562,000 viewers, equal to about 80 percent of Anderson Cooper’s CNN viewership that evening. Newsmax’s other prime-time shows also experienced big jumps. The sharp rise in viewership can be timed almost to the minute of Fox News’s announcement on Monday that it was parting ways with Mr. Carlson, in part because of private messages sent by the anchor that included offensive and crude remarks. Executives at Newsmax quickly sensed an opportunity. Starting on Monday, Newsmax programming has aggressively pushed a narrative that Mr. Carlson’s dismissal was a capitulation to the left by Fox News and the Murdoch family. One pundit mused on the air that Lachlan Murdoch, the executive chairman of the Fox Corporation, was “much more liberal” than his father, Rupert. Andrew Napolitano, a Newsmax pundit who was fired by Fox News in 2021 over a harassment allegation, said Fox News dismissing its top-rated anchor “is like the 1927 Yankees firing Babe Ruth for his table manners — I don’t get it.” Anchors and guests harped on a recent appearance by Representative Alexandria Ocasio-Cortez, a New York Democrat, in which she called for Mr. Tucker’s firing. “A.O.C. speaks, and now Fox listens,” grumbled the Newsmax anchor Chris Salcedo. “These really are end times.” By Thursday morning, the network was inviting viewers to vote in a poll: “Is it right for Fox News to fire Tucker Carlson?” “Fox has been moving to embrace more of an establishment position,” Newsmax’s chief executive, Christopher Ruddy, said in an interview on Thursday. “They want to renounce some of the Trumpisms and populist MAGA stuff that Tucker was echoing.” Mr. Ruddy said he preferred to “embrace all sides of the Republican Party.” Over all, Newsmax remains a ratings minnow. On Tuesday evening, “Hannity” on Fox News drew 2.1 million viewers; “The Ingraham Angle” attracted 1.6 million. Fox News has pointed to Nielsen data showing that in the first three months of the year, it was the highest-rated network across all of cable TV. And the network has bounced back from losing stars like Bill O’Reilly and Glenn Beck. But the absence of Mr. Carlson, its biggest prime-time star, has been felt. On Tuesday, Fox News lost to both CNN and MSNBC in the 8 p.m. hour among adults ages 25 to 54, an exceedingly rare defeat for the network in the key demographic for cable news advertisers. The “Fox & Friends” co-host Brian Kilmeade, sitting in for Mr. Carlson, fell short to Mr. Cooper on CNN and Chris Hayes on MSNBC in that coveted demographic, although he was first in total viewership. Newsmax is surging shortly after Fox News paid $787.5 million to settle a defamation lawsuit brought by Dominion Voting Systems, an election technology firm. Evidence in that case showed that Fox News executives were deeply concerned by Newsmax’s growth after the 2020 election, when President Donald J. Trump denounced the Murdoch-owned network for its projection that Joseph R. Biden Jr. would win Arizona. At the time, Newsmax saw a burst in viewership, even recording higher ratings than the Fox News anchor Martha MacCallum one evening in December 2020. (Ms. MacCallum was switched to a different time slot not long afterward.) But its audience eventually shrank. And despite Mr. Trump’s complaints, Fox News continued as the undisputed ratings king of cable news, powered in part by Mr. Carlson’s increasingly provocative program. So would Mr. Ruddy consider hiring the now-former Fox anchor for Newsmax? ...
Still more.
Elon Musk on Real Time with Bill Maher (VIDEO)
A great interview. The more I see Elon unfiltered the more I love the guy. He doesn't get ruffled.
Friday, April 28, 2023
Tuesday, April 25, 2023
Monday, April 24, 2023
Don Lemon Fired! (VIDEO)
Same day as Tucker Carlson, too. Makes for some intrigue.
Lemon's termination is hardly surprising. The fucker's both arrogant and stupid. It cost him.
Tucker? That's another story. That one hits me out of left field, though I can understand Rupert Murdoch's position. He's still on the hook for the Smartmatic lawsuit, which is supposed to be more blockbuster than Dominion's.
At the Wall Street Journal, "Don Lemon Is Out at CNN."
Tucker Carlson Out at Fox News (VIDEO)
Blockbuster! Absolutely blockbuster!
I was teaching when I happened to see that Carlson was fired --- and I stopped for a minute to mention to my class how big a piece of news this is. I'm just now back home and able to surf around for some news.
He's out not just because of Dominion, apparently. According to the Los Angeles Times, "Carlson’s exit is related to the discrimination lawsuit filed by Abby Grossberg, the producer fired by the network last month, the sources said."
And at CBS News:
Sunday, April 23, 2023
Another Biden-Trump Presidential Race in 2024 Looks More Likely
And there's been so much hope for DeSantis too.
But this does seem about right.
At the Wall Street Journal, "Biden’s impending campaign entry and Trump’s lead in Republican field mean they could square off again":
WASHINGTON — America could be headed for an epic rematch. President Biden is expected to announce his re-election campaign this week, putting to rest questions of whether he will seek a second term as the nation’s first octogenarian president. At the same time, polls show former President Donald Trump with a substantial lead in the Republican presidential field despite facing criminal charges in New York and the potential for more legal problems on the horizon. While the race for the White House remains in an early stage and presidential campaigns can shift quickly, the start of the 2024 cycle shows that a rematch between Messrs. Biden and Trump is a distinct possibility, one that would play out before a divided nation as the two parties uneasily share control of the levers of power in Washington. A second showdown, this time with Mr. Biden in the White House and Mr. Trump as the outsider, could determine how the U.S. proceeds in its support for Ukraine’s war against Russia and its work to counter the effects of climate change, as well as how it would balance domestic and military spending and economic policies at a time of high inflation. A 2024 campaign would likely be different from the first encounter, when Mr. Biden limited his in-person campaign events and rallies because of the Covid-19 pandemic and Mr. Trump used the trappings of the White House in his campaign, often featuring Air Force One in the backdrop of airport rallies. Mr. Biden is expected to open his re-election bid with a video announcement. Advisers are considering a Tuesday launch to coincide with the fourth anniversary of his entry into the Democratic primaries in 2019. Mr. Biden is scheduled to address the North America’s Building Trades Unions that day, allowing him to highlight his $1 trillion bipartisan infrastructure law before an audience of union members who have backed both Democrats and Republicans in the past. Mr. Trump is planning a response to the announcement, aides said, and he has said the president is vulnerable on a range of issues, from immigration to inflation. Mr. Biden defeated Mr. Trump three years ago in an election marked by the Covid-19 pandemic and heated protests over police tactics and racial justice. Since then, the aftermath of the 2020 election has lingered over the nation’s politics, with Mr. Trump facing investigations into his attempts to overturn his defeat, the Jan. 6, 2021, riot at the Capitol by his supporters and the former president’s storage of sensitive government documents at his residence and club in Florida. Mr. Biden faces an investigation into his own handling of sensitive documents after his time as vice president, while his son, Hunter Biden, is facing a criminal investigation related to his taxes and whether he made a false statement in connection with a gun purchase. “Our politics have only gotten more divided since Election Day 2020, as we saw most graphically on Jan. 6,” said Doug Heye, a Republican strategist. “Add to that we’ve never had an indicted nominee, nor potentially, a son of the incumbent president indicted, and thoughts of a high-road election on issues are foolish to the extreme.” A Wall Street Journal poll released last week found Mr. Biden at 48% and Mr. Trump at 45% in a hypothetical head-to-head matchup, a lead within the poll’s margin of error. In testing a potential field of 12 competitors for the Republican presidential nomination, the poll found that Mr. Trump had the support of 48% of GOP primary voters, followed by Florida Gov. Ron DeSantis at 24%. No other Republican candidate was in double digits. While Mr. Biden faces minor opposition in the Democratic primaries, polls show that the public holds deep reservations about his presidency. In the six Wall Street Journal surveys dating to late 2021, an average of 43% of voters have said they approve of Mr. Biden’s job performance, while an average of 48% said they approved of how Mr. Trump handled the job when he was president. When a Journal poll asked this month about Mr. Biden’s work on eight issue areas, voters rated him more positively than negatively on only one—his handling of Social Security and Medicare. By 22 points, more people disapproved than approved of his handling of the economy, and the gap was 27 points on dealing with inflation, 26 points on border security, and 21 points on fighting crime. Donna Brazile, a Democratic strategist and a member of the Democratic National Committee, said that Mr. Trump would seek to make a rematch about retribution and revenge over the 2020 election and that Mr. Biden would be tasked with making the campaign about his agenda and the future...
Still more.
'The unsettling reality is that America in the not-too-distant future is going to have a lot in common with partial-collapse societies of Eastern Europe and Latin America where gangs have more power and influence than the government; where politicians pass the laws but gangs enforce the rules...'
Bed Bath & Beyond Files for Bankruptcy
My wife briefly worked there. Briefly. It wasn't her most memorable or rewarding job.
The company made a bad bet on its own-store brand lines, alienating longtime customers who shopped there for deals on major brand names.
At the Wall Street Journal, "Bed Bath & Beyond Files for Bankruptcy":
Bed Bath & Beyond Inc. BBBY -2.17%decrease; red down pointing triangle filed for bankruptcy protection to wind down its business after years of losses and failed turnaround plans left the once-powerful retailer short of cash. The company had warned of a potential bankruptcy for months. It needed a $375 million loan to get through the holidays. It struck an unusual $1 billion financing deal with a hedge fund in February to put off a bankruptcy filing, then scrapped the deal and tried this month to raise $300 million from other investors. None of the moves were enough. Nor were efforts to stem losses by closing hundreds of stores. Sales evaporated and its stock price tumbled well below $1 in recent weeks, as the rescue efforts dimmed. The retailer filed for chapter 11 bankruptcy Sunday in the U.S. Bankruptcy Court in Newark, N.J., and said it expects to close all of its 360 Bed Bath & Beyond and 120 Buybuy Baby retail locations eventually. Top lender Sixth Street Partners has put up $240 million in financing to keep Bed Bath & Beyond operating through the liquidation process, the company said. Bankruptcy gives Bed Bath & Beyond the breathing room to conduct going-out-of-business sales at its physical stores and solicit interest from potential buyers for its remaining assets, such as its branding. Individual investors who continued to back Bed Bath & Beyond during its final months, when it was flooding the market with shares, will likely be wiped out in chapter 11, which prioritizes the repayment of debt over shareholder recoveries. As Bed Bath & Beyond’s situation worsened, suppliers stopped shipping goods to the retailer. Photo: Johnny Milano/Bloomberg News If a bidder emerges for the business in bankruptcy, Bed Bath & Beyond said it would pivot away from its liquidation plans to pursue a sale. Once a pop-cultural phenomenon, Bed Bath & Beyond has long been losing shoppers to rivals and struggling to stock its stores. Replacing KitchenAid mixers and other name brands with private label goods further alienated vendors and customers. Bed Bath & Beyond joins a growing list of once-ubiquitous retail chains seeking court protection. Some like J.C. Penney Co. continue to operate hundreds of stores; others like Sears and Toys ‘R’ Us closed most of their locations; while Circuit City and Linens ‘n Things disappeared altogether. The country’s largest wedding dress retailer, David’s Bridal LLC, recently filed for bankruptcy and said it would shut all of its stores if it doesn’t quickly find a buyer. It was the chain’s second bankruptcy filing in less than five years....Bed Bath & Beyond didn’t have an unprofitable year as a public company until 2019—when it reported its first annual sales decline. By then, the rise of Amazon.com Inc. and other online retailers had started to eat into the business. “We missed the boat on the internet,” Mr. Eisenberg said. A group of activist investors forced the co-founders, who had relinquished their executive duties in 2003 but remained co-chairmen, off the board in 2019. The reconstituted board hired former Target Corp. executive Mark Tritton as chief executive. Mr. Tritton moved quickly to put his stamp on the company. He sold many of the company’s noncore businesses, including Christmas Tree Shops. Then, in January 2020, he signed a deal to sell roughly half the company’s real estate to a private-equity firm and lease back the space. With the world in lockdown due to the Covid-19 pandemic, Mr. Tritton pushed through what the company called the biggest change to its assortment in a generation. It replaced name brands such as KitchenAid mixers, All-Clad cookware and OXO spatulas with private-label goods manufactured just for Bed Bath & Beyond. The rationale was sound: Private-label merchandise carries higher margins and helps retailers differentiate their offerings from competitors. The playbook has worked for countless chains from Target to Macy’s Inc. But it failed at Bed Bath & Beyond for several reasons, according to former employees and analysts. Mr. Tritton made the switch at a time when supply chains had been upended by the pandemic. Factories had temporarily closed and shipping delays were proliferating, along with rising costs, making it difficult for retailers to keep goods flowing to their stores in a timely manner. The company also rolled out too many private brands too quickly, before it had the infrastructure to support them, the former employees said. It planned to launch eight new brands in 2021 alone. At first, the results of Mr. Tritton’s strategy looked promising. Bed Bath & Beyond’s sales rose 49% in the spring quarter of 2021, compared with a year earlier when stores were closed for Covid lockdowns. Mr. Tritton presented results to the board showing that some of the early private-label launches—such as the Simply Essential line of bed, bath, kitchen, dining and storage items—were well-received by shoppers, according to people with knowledge of the company. Some of that buying was due to consumers stocking up while sheltering from the pandemic. As that demand ebbed, the gains quickly evaporated. By August 2021, sales were falling, and they continued to drop, as losses piled up. “You know if you buy Cuisinart what you are getting,” said Sheryl Bilus, a 68-year-old retired bank manager who lives in Canton, Ga. “But with their own brands, you don’t know what the quality is like.” Mr. Tritton had planned a similar overhaul of the Buybuy Baby chain by replacing Gerber and other children’s brands with private-label goods. But he was pushed out in June 2022, before he could make many of those changes. Sue Gove, a veteran retailing executive and Bed Bath & Beyond director, was named interim CEO. Meanwhile, Bed Bath & Beyond’s stock went on a wild ride after Ryan Cohen, the billionaire founder of pet retailer Chewy Inc., took a big stake in the company and agitated for changes, including the sale of Buybuy Baby. The board considered strategic alternatives for the baby chain, but decided against selling because separating it would have been time-consuming and costly, and they needed to nail down a new strategy before marketing it to potential bidders, people familiar with the situation said...
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