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Commentary: Chicago budget includes abstract goals that don’t come with built-in accountability
City government's identity is getting lost in a growing list of expenses without a clear definition of success, writes a municipal finance expert.
Is PENN Entertainment, Inc. (PENN) A Good Stock To Buy Now?
Is PENN a good stock to buy? We came across a bullish thesis on PENN Entertainment, Inc. on TradersPro’s Substack. In this article, we will summarize the bulls’ thesis on PENN. PENN Entertainment, Inc.’s share was trading at $21.84 as of June 15th. PENN’s trailing and forward P/E were 77.43 and 13.14 respectively according to Yahoo Finance. […]
Registration open for 2026 HousingIowa Conference in Des Moines
Registration is now open for the 2026 HousingIowa Conference, hosted by the Iowa Finance Authority and scheduled for Sept. 9-10 in Des Moines. The conference expects to bring together nearly 1,000 professionals from housing, development, lending, government and community sectors. The event will feature national speakers, policy experts, and industry leaders addressing key issues in…
ICC delivers Business and Industry closing statement at Bonn Climate Change Conference - ICC
On behalf of the global business community, ICC delivered the closing statement at the pivotal preparatory meeting for COP31, urging governments to unite around a global path toward practical implementation that delivers meaningful progress on mitigation, finance, and adaptation commitments.
AI session examines the disconnect between health systems and their tech partners
Magna GenAI Consulting CEO Dr. Sahar Hashmi talks about the behind-the-scenes tension when a new vendor is brought on.
Opinion: Why employers want business education back in high school
If we want our region to remain competitive, we must invest in pathways that equip students with practical knowledge. AP Business with Personal Finance does that.
Trump’s Iran agreement may be a dud, but he’s getting what he wants
Donald Trump insisted last month that he didn’t think about Americans’ finances when negotiating with Iran.
The Face of Business Growth
Don Winkle brings a practical, solutions-oriented approach to mergers, acquisitions, and corporate finance.
Cornell convenes leaders to explore AI’s impact on business
A Cornell workshop united faculty and industry leaders to explore AI’s impact on finance, healthcare, startups and work.
Britain’s Finance Chief Confronts the Political Challenges of Fiscal Stability
Rachel Reeves came into office promising to adhere to strict rules on spending and borrowing. Two years later, a special election could determine if she will continue in her role.
The U.S. Economy Is Leaving Small Businesses Behind
Small businesses say relentless pressures from tariffs and higher energy prices have sapped their resilience and finances.
‘Stop the Billionaire Takeover’ Lays Out Finances Behind SF Politics
Ahead of the June 2 election, about 45 people gathered at the Ortega Branch Library on May 13 to hear a presentation on what organizers called a billionaire takeover of local elections.
Small Business Administration chief talks the state of small businesses in the U.S.
The Reindustrialize Summit convened leaders from manufacturing, technology, defense and finance in Detroit to discuss how to restore America’s industrial strength. Small Business Administration Administrator Kelly Loeffler sat down with CNBC’s Leslie Picker for a conversation on boosting America’s manufacturing base, small business sentiment, and AI’s impact to Main Street.
In the race for AI gold, healthcare is getting left in the dust by finance
If the economy were an inter-sector track meet in which AI adoption propels the runners, healthcare would be getting repeatedly lapped by financial services.
Apple Stock Rises on AI AirPods and Foldable iPhone Report
Apple Advances AI Hardware Push as New AirPods Details Emerge
Cardenas enters Chicago mayor’s race with focus on city finances
Cardenas, a former 12th Ward alderman who spent two decades on the City Council and later served as floor leader under former Mayor Lori Lightfoot, announced his candidacy today.
Miami-Dade commissioners vote unanimously for new mental health center
Steven Leifman, a judge and finance chair of the Homeless Trust, has been on a quest to help address a societal problem he has experienced in his Miami-Dade courtroom, defendants with untreated mental health issues leading to what he says is a revolving door of arrest and release.
Finance, accounting top business major enrollment growth
Overall business students held their place as the biggest group of U.S. undergraduates with 1.6 million enrolled this spring, according to the NSCRC.
EU rules out mandate to keep video games playable, seeks voluntary code
The European Commission said on Tuesday it cannot require video games to remain playable after they are withdrawn from sale, but will work with industry and consumer groups on a voluntary code of c...
Family Finances Shape Children’s Brain Development, Study Finds
By Dennis Thompson HealthDay ReporterTUESDAY, June 16, 2026 (HealthDay News) — A family’s financial situation has more impact on their children’s brain development than parenting style, a new study says. Family finances and opportunities in a child’s neighborhood account for about 16% of the ...
United States Announces U.S. Government Members of the U.S.-Uzbekistan Business and Investment Council
United States Announces U.S. Government Members of the U.S.-Uzbekistan Business and Investment Council Press Release June 16, 2026 Today, at the fifth annual Tashkent International Investment Forum (TIIF 2026), the United States announced the following inaugural members of the U.S.-Uzbekistan Business and Investment Council: U.S. International Development Finance Corporation (DFC) Vice President Bethany Aquilina Brez Export-Import Bank of the United States (EXIM) Senior Vice President Sarah Witten Assistant Secretary of Commerce, David Fogel Assistant Secretary of State for Economic, Energy, and Business Affairs, Caleb Orr U.S. Ambassador to Uzbekistan, Jonathan Henick Launched in Washington, D.C., in April 2026, the U.S.-Uzbekistan Business and Investment Council serves as the premier bilateral platform to accelerate trade and catalyze private sector investment between the United States and Uzbekistan. The Council is Co-Chaired by Special Envoy for South and Central Asia, Ambassador Sergio Gor and Saida Mirziyoyeva, Head of the Administration of the President of the Republic of Uzbekistan. The Council gives American businesses direct access to U.S. government financing, trade promotion, and market development tools to execute large-scale projects in Uzbekistan. Uzbekistan holds significant reserves of critical minerals essential to U.S. technology, defense, and energy sectors. The Council provides a direct mechanism to advance U.S. access to these resources through transparent, mutually beneficial partnerships. Through their participation, the American members of the Council will deepen the institutional framework for American commercial engagement in Uzbekistan.
Stop managing your business finances in spreadsheets — QuickBooks is $300 right now
Intuit QuickBooks Desktop Pro Plus 2024 is on sale for $299.99 (reg. $536) for one year. Built for small business owners, freelancers, and accountants, it handles invoicing, expense tracking, inventory, payroll hours, and project profitability reporting.
Parking meter hearing delayed amid debate over Stonepeak deal
Chicago aldermen postponed a hearing on Stonepeak's bid for the parking meter lease as they review the firm's finances, ICE-related ties and possible leverage to seek concessions.
Cleveland County residents may soon be able to invest in the Rock Creek Entertainment District arena
The Cleveland County Recreational and Entertainment Facilities Authority unanimously approved a resolution naming a trustee bank and underwriters for anticipated bonds up to $230 million to finance the Rock Creek
Metro finance director touts Nashville's financial health
Tax collections were mostly flat, but Metro's finance chief says the city is in good financial health.
NWA Women in Business: Kelli Stueve
Residence: Springdale Education: B.S., mathematics with computer science minor, 2003, Morningside College; MBA, emphasis in finance, 2012, University of Colorado Denver Professional background: Stueve has more than 20 years of...
Microsoft sued by shareholders over expenses, cloud business, AI
Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure. The proposed class action led by a Michigan pension fund was filed in Seattle federal court on Friday, after Microsoft shares fell 10% on January 29 in response to its quarterly earnings report a day earlier. About $357 billion of market value was erased, and Microsoft's stock suffered its biggest one-day decline in nearly six years.
French business schools lead FT Masters in Finance 2026 ranking
ESCP tops the table amid growing demand as graduates seek sanctuary from a tough job market
Business news: PNW marks impact, finance leader joins Valparaiso University and more
Business news from around the region.
Simplify Business Finances With QuickBooks Desktop Pro Plus 2024 for $300
Track expenses, manage invoices, and more from one platform.
In Retrospect: Poland, Russia, Europe
In April I spent a few days with Zryw, a Polish non-profit organization that recruits young people to enter politics and public life. Their aim is to build a new generation of civic leaders in Poland. I’ve followed their evolution from the beginning; my son is one of the founders. (“Zryw” means “impulse” or “burst of speed” in Polish). Julie Chmielewska, one of Zryw’s leaders, interviewed me at the event. Here is the conversation, lightly edited for grammar and context: Julia Chmielewska: Assuming that culture shapes institutions, could we conclude that some cultures are more prone to authoritarianism? Anne Applebaum: I don’t think so. Every culture, every nation, and every country has the potential for change. When we look at history, we can see that nations do change. Poland has changed, for example, from the 1980s to today. There’s a completely different mentality here than the one I encountered when I first visited, in 1988. The current generation sees the world through a different frame. So no, I don’t believe that certain nations are doomed to authoritarianism, or to anything. Of course, there are political and cultural traditions, but they can always be challenged. JC: So do you think there’s something intrinsic in human nature that pushes people to democracy, freedom? AA: I think there is something in human nature, a deep instinct, that pushes people towards freedom, yes. People who live in authoritarian countries – and I’ve heard this from them over and over again – sooner or later find themselves angered by a feeling of helplessness. They can see the unfairness of crooked courts, irrational political decisions. They naturally dislike the fact that somebody has all the power while they have none. In those circumstances, people who have no political background at all sometimes are politicized just by that frustration. I’m thinking of Svetlana Tikhanovskaya, for example, who was a Belarusian housewife, until the circumstances of her husband’s arrest forced her to become a politician. I met a woman who is a Uyghur from China, and who had come to live in Turkey. After several of her family members were arrested, she too was propelled into a political role. These kinds of experiences make people interested in democracy or political reform, even if they thought they didn’t care. I also think that the opposite is true: some people instinctively prefer homogeneity, order, hierarchy. They don’t like the confrontation of opinions or the noise of debate, and they lean towards a single leader or a unified regime. I think that most of modern history is shaped by the clash between those two different sides of human nature. JC: Which force do you find more powerful today? AA: I think they both have a lot of power and there’s no way of predicting who wins. Even in countries that seem very shut off or stuck in an authoritarian system can change. We’ve seen that happen. And vice versa, I think democracies can also begin to fail and slide into authoritarianism. So it’s very important not to be complacent in either direction. JC: I want to go into your history and your experiences. You’ve lived in Russia during a time of incredible change in the late 80s, and then you came back to do research in post-Soviet Russia. AA: I was a student in Russia just before the collapse of the Soviet Union. I then traveled and worked there extensively in the 1990s, and I met people who really were full of hope. They hoped that Russia could become a democracy, or at least a place that guaranteed freedom of speech, freedom of the press. These weren’t ideas that came from Washington. Although now the narrative in the Kremlin is different, I met many people who were working towards exactly that kind of transformation. A friend of mine ran a series of seminars – once a year, and then later several times a year, in cities all over Russia – designed to get people to discuss politics in new ways. She invited young politicians and journalists, as well as foreigners. I went to many of them, in Moscow as well as Volgograd and Novosibirsk. Over two decades, hundreds of people came to these seminars, and all of them wanted Russia to be different. I remain convinced that many Russians still want Russia to be different. It’s just that the old system, in the form of Putin, a representative of that system, returned. The KGB reimposed their power. And this wasn’t because of something to do with culture, this was to do with money and politics, and who was in charge. JC: You’ve partially answered my question... I wanted to ask whether that excitement of the 1990s was an exception from the Russian historical norm which has been rather authoritarian? AA: Of course, if you look at the history of Russia since the 18th century, there have always been liberal groups, reformers and revolutionaries. There were the Decembrists, in the early 19th century, and the rural populists later on, who tried to organize the peasantry. A significant group of liberal Russians appeared at the turn of the 20th century, people like the father of the writer Vladimir Nabokov, who was a Russian politician before the revolution. These groups were small in number, but sometimes had a broader significance. The Russian dissident movement in the 1950s and 1960s actually invented the modern human rights movement. It was their idea to hold the leaders of the Soviet Union accountable for the language they used, to remind them of the treaties they had signed and the promised they had made. They created the Helsinki group, for example, that held Soviet leadership to the language of the Helsinki Treaty, which formally ended the Second World War and which contained guarantees of human rights, at least on paper. That idea spread to Eastern Europe, and similar tactics were used here in Poland. (Benjamin Nathans recently wrote a great book about the Soviet dissidents, To the Success of Our Hopeless Cause) JC: But seemingly, even if they do ever get power, they could never hold on to it. AA: We don’t know, because they have never really had power. But in any case, we also don’t know what will happen in the future. There is no reason to assume that Russia will forever be condemned to totalitarianism. Even during the first fifteen years of Putin’s regime there was some form of democratic politics. Only when the full-scale war began did he bring everything to an end: he shut down all remaining independent organizations and killed his most important opponent, Alexi Navalny. But does that mean he is popular, that he enjoys legitimacy? Even now, we don’t really know what Russians think about him, or about the war. There is no way of doing real polling in Russia because nobody will answer an independent pollster over the phone. JC: Do you think that the flock of young people, especially young men, who fled Russia after the start of the war represent a continuation of liberal movements that refuse to partake in the authoritarian state, or do you think they are moving for the sake of self-preservation – “I don’t want to go to the army, so I leave”? AA: I’m sure it’s both. I actually know many people who left Russia for political reasons either in the very last years before the war, or else just after the war began. JC: And do you see a change in the young generation versus the old one that have fled? AA: It’s hard for me to say because the people who I know were mostly already politicized. I do know some younger people who left, but most of them were already either active in the opposition, or working as journalists. Many of them very self-consciously think of themselves as maintaining Russian culture abroad, just as in the 20th century the Soviet dissidents or the anti-communist White Russians once thought of themselves as people who maintained the true Russian culture, outside of Bolshevik Russia. JC: Let’s move on to Poland. One of your first experiences with Poland was reporting on Margaret Thatcher’s first state visit, in the autumn of 1988. You followed her around the farmers’ market. AA: She was making a symbolic gesture. She wanted to welcome free markets, but the only one she could really visit was the farmers’ market at Hala Mirowska. JC: And I want to talk about this area because today you can look out of any window in that district, Mirów, and see rows and rows of skyscrapers. How does it feel to see a country built from the ground in such a short time, both politically and economically? AA: You know, when you’re living in a period of dramatic change, it’s always hard to know whether the change is positive or negative. The transformation in Poland created winners and losers, as well as new classes of people, new political movements of different kinds. At the time, it sometimes just felt like turbulence. Now, we can look back at the 1990s and early 2000s in Poland and see in retrospect that the country was headed in towards prosperity and European integration. In around 2009 or 2010, I remember speaking to a woman who worked cleaning government offices, and who asked me if her daughter should study in Amsterdam or in London. This seemed to me to be a real transformation, and it happened very fast: within a few years, Poles stopped feeling like second-class Europeans, and a generation of younger Poles appeared who had no qualms about crossing borders. JC: We again live in turbulent times. Do you think we’re heading towards positive outcomes? AA: I can’t make predictions, because everything that happens tomorrow depends on what people do today. Also, history doesn’t have a trajectory. It doesn’t move in a particular direction. You only think it does afterwards. As I said, you can look afterwards at Poland in the 1990s and you could say this was a period of great progress. But not everybody at the time saw that. Sometimes people are very wrong about a given country’s trajectory. I remember people writing about Ukraine in the 1990s, about how dangerous it was that Ukraine was independent, that this was going to be an anti-semitic state, that Ukrainian nationalism was going to come back... and although you can say many bad things about Ukraine, the country made many bad choices, actually it became a pretty tolerant state which now has a Jewish president and until recently a Muslim defense minister. JC: In the 1990s Poland’s and Ukraine’s GDP were roughly similar. Ukraine was even a bit richer. So the starting point was similar for both of these countries, but they’ve turned out very, very differently. Even if we stop in 2014. Why do you think Ukraine “chose East”? Was it external influence? AA: No, I think Ukraine was in a different position. First of all, central and eastern Ukraine had been part of the Soviet Union since the 1920s, and had therefore experienced a longer period of occupation, repression, Sovietization and even Russification. Ukraine did not have, as Poland did, an alternative elite: a large cadre of economists and politicians, who already had some experience in opposition politics and in independent thinking. In Poland, the transformative finance minister, Leszek Balcerowicz, had already thought about how an economy might be decentralized before he took office. We can argue about how successful he was, but at least he was prepared to try something new. In Ukraine, people weren’t prepared. For one, there hadn’t been much space even for an illegal opposition in the previous couple of decades. Ukraine was also in many ways still emerging from colonial occupation. For the previous couple of centuries, many of the most capable Ukrainians had moved to Russia, and the first generation of leaders in independent Ukraine tended to be former Soviet apparatchiks. They didn’t immediately seek to become closer to western Europe. Instead, they looked for some kind of economic and political “third way” and an accomodation with Russia. Ukraine became stuck in this position, half-in, half-out and became pretty profoundly corrupt. JC: The Polish alternative elite had a vision of where they wanted the country to go. I think the general perception now is that this vision ends with the next election, right? Is this a natural process of gaining power? AA: Their vision, and it was shared by the time by politicians who now call themselves both left and right, was that Poland should join the EU and NATO, as fast as possible. My husband (Radek Sikorski) was in the very first government that said it wanted to join NATO. At the time this was taken very badly in Washington: the demand for NATO membership absolutely came from Poland, not from the US. But even then, in the early 1990s, many Poles already understood that the Russian sphere of influence would grow once again, that it was important to become part of the transatlantic alliance and an integrated Europe as fast as possible: NATO, the EU, the Council of Europe, all of the trading and security alliances. That consensus lasted through several different governments and over many years, even governments containing former communists. For twenty years, right, left and center disagreed about many things, but they all agreed on the direction that the country should go. In retrospect, that consensus created the basis for prosperity in Poland. JC: And regarding the Polish-Ukrainian relations. We know that antagonisms, e.g. the myth of Wołyń [a massacre of Poles that took place in what is now Western Ukraine, in 1943] are increasingly used in Polish political discourse today. In Ukraine, nationalist historians make heroes out of UPA, the Ukrainian revolutionary army, which is held responsible for this tragedy. Where do you see a start for burying the hatchet? Is the reconciliation of our nations possible? AA: So here’s a strange thing: For more than a decade after they both gained independence, Poland and Ukraine participated in a number of projects that were designed to solve exactly these kinds of Polish-Ukrainian differences. Books were published that were jointly written by Polish and Ukrainian historians, monuments were built. These projects were successful: If you’d asked me this question in 2010, I would have said that there are no real historical issues between Poland and Ukraine, that the two countries had mostly reconciled. For a number of reasons, this began to shift. In Poland, children and grandchildren of victims of the Wołyń massacre felt their tragedy hadn’t been fully recognized. In Ukraine, nationalist groups wanted the UPA partisans who had fought against the Soviet Union recognized for their heroism, despite the fact that some in this broad and not well-defined group were also linked to Wołyń. In both eastern Poland and western Ukraine, the memory of the ethnic cleansing that took place there in the late 1940s - Poles were moved West, Ukrainians East - to accomodate new borders has left feelings of displacement and bitterness. The wave of Ukrainian immigration, which started before the war, may have provoked some of this. But don’t underestimate the role played by Russia, which has always wanted to create discord between Poland and Ukraine, and pumps out propaganda to that effect in both countries. Vandalism on both sides of the border, damage done to cemeteries and monuments, is sometimes carried out by provacateurs working for Russia, just to create bad feelings. The Polish-Ukrainian conflict also hides a different reality: although there are real grievances and bad memories, the truth is that the biggest tragedies both nations experienced in the twentieth century were inflicted by the Soviet Union and Nazi Germany. That should unite these two countries, not divide them. JC: This week (19.04.2026 – Ed.) in Hungary we saw that using historical narratives to create grievance has no longer worked. Are you optimistic about the direction after Orban’s loss? AA: The Hungarian election was really important because it shows that people can actually resist powerful, dominant propaganda. The ruling party Fidesz controlled all of the TV, 90% of the newspapers, the constitutional court, the bureaucracy... and yet people had the nerve to vote against it and resist it. It’s also an important election because Hungary created a huge network of well-funded think tanks and foundations that were funding other far right groups and projects. So that loss is going to have a knock-on effect in other places too, maybe even in Poland. JC: What you’ve said about resisting propaganda reminds me of one of the interviews you did about talking to Russians in the post-Soviet era who claimed that people knew that the system was lying. Why do people choose to believe in these regimes anyway? AA: Because it’s useful. Stephen Kotkin, an American historian, once described how people would learn how to “speak Bolshevik”: It was just a language that you needed to use in order to get by in society. If you didn’t talk the way the regime wanted you to talk, then you might have problems, or lose your job, or your kids would not get into university. It was a way of getting along. Communist Poland was similar, at least in the early years. When I was writing a book about the Sovietization of Eastern Europe after World War II, I met a lot of people who wanted to talk a lot about the war, when many of them had done really heroic things. But almost nobody wanted to talk about the decade afterwards, between 1945 and 1956. This was when you had the short period of terror, violence and Polish Stalinism. To stay safe, people felt the need to just go along with what others were saying, or stay out of politics, or use communist jargon without necessarily believing it. I don’t judge them for it, and I wouldn’t describe all of those people as collaborators. It’s easy to feel moral certainty in retrospect, because we know that communism ended. But if you were living in 1949, it might not have been clear to you that communism was going to end. In very repressive societies, maybe about 10% of people who are really evil – collaborators, torturers. Maybe 10% of people are really brave and who find ways to resist. And then around 80% of people have kids, they have parents, they have to have jobs and they’ve had to get through it somehow. Strange though it may sound, I’ve found that the work I did on that book is now very useful in explaining some of what’s going on in the United States today. There are plenty of members of the Republican Party in Congress who know perfectly well that Donald Trump says many things that aren’t true. But they avoid criticizing him because it’s inconvenient, because they would get in trouble, because someone would attack them on the internet. So actually you don’t even need mass terror to get people to conform. JC: Is Gen Z reinventing agency? AA: We’ll see. In any generation you can find groups of people who want agency. If you live in a society that’s unfair, for example where a tiny number of people have captured most of the wealth, then at a certain point people rebel. This is always easier for younger people, who have you have less to lose. The question now is how the internet will affect the relationships between citizens and the state, and how it will change organizations. The “Twitter revolutions” people spoke about as early as 2008-9, mass protests organized online, have often proved to be very superficial. Although you can easily join something just by clicking, the work of creating a real movement requires physical participation. Successful mass movements of the past, for example the Civil Rights movement in the United States, were built by people who had spent many years together. They had participated in non-violent workshops together. They practiced and prepared. Just using the you can get everybody to show up at a certain moment, but then when the protest is broken up, nothing happens. It’s also true that the repressive regimes have more recently learned how to use the internet to undermine leaders and movements. Most of all, they now understand how to make people cynical. The form of propaganda that most modern authoritarians use - and I think the Russians really pioneered this - deploys sneering cynicism. Instead of praising the rulers, the regime propagandists mock the opposition movement leadership for being supposedly corrupt or sexually degenerate, with the goal of undermining any kind of idealism. JC: MAGA grew on the internet? AA: MAGA is a real grassroots movement. They had symbols, red hats, they showed up at rallies. But you’re right that the cynicism, the sarcasm and the distrust that the movement embodies came originally from the internet, and this is different. Fifty years ago, most European political parties had a social base in real organizations, in trade unions for Social Democrats, in church groups for Christian Democrats. As people stopped going to church and as the trade unions became smaller, the social base of these parties disappeared. Now people who wouldn’t have known one another in the past meet on the internet and create new movements, many of which don’t last. JC: Is history ending? Going in stale circles? AA: History never ends. In truth, human beings want contradictory things at the same time: order and freedom, stability and change. These things are never resolved, and when a society swings too far in one direction, people always push it the other way. But each time that happens, the result is different. Certainly it is true that we are now in a period when old philosophers and ideas from the 1930s are undergoing a revival. Carl Schmitt, who was a philosopher who was very influential on the Nazis, is back as an influence on both the far left and the far right, once again inspiring people to think that all politics has to be existential, that all politics is about defining and defeating enemies. In the US, some are also bringing back dominionism, the idea that we need a Christian and not a secular state. It’s also true that we are living through a more fundamental shift. The old left-right divide, which was mostly about the size of the state, is much less important now. Instead, we are arguing about more fundamental things: what are our rights, what protects our freedom. Or how much power do we want to give small elites, versus how much power to give ordinary people. In America a small group of very wealthy people now control information, because they control the social media platforms and AI, which means they determine what people will read and learn. Finding a way to preserve preserve zones of autonomy and independent thinking, this is going to be the main task for the next generation. JC: What is the one book that a person interested in Central Europe should read? AA: You could read my book “Iron Curtain: the Crushing of Eastern Europe” which tells the story of how the Soviet Union imposed its culture on the region. Or read Tim Snyder’s history of the region, “The Reconstruction of Nations: Poland, Ukraine, Lithuania, Belarus 1569-1999.” And everyone should read “The Captive Mind” by Czesław Miłosz, which describes exactly the phenomenon we were talking about: why do people collaborate? I joined Scott Galloway and the brilliant Fiona Hill in a discussion about the wars in Ukraine and Iran, the future of global power, and what these conflicts reveal about America's role in the world. Scott told us that this was the 400th edition of his podcast, which is quite a number: My friend Francesco Chiamulera runs a brilliant series of literary events, Una Colline di Libri, A Hill of Books, in the Prosecco Hills, a region of vineyards and elegant hill towns in the Veneto, north of Venice. We did an event in Vittorio Veneto and also drove and biked around the countryside. Buy Autocracy Inc Buy Iron Curtain Open Letters, from Anne Applebaum is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Sharon O'Keefe
As president of the University of Chicago Medical Center and chief operating officer of the 1,286-bed University of Chicago Medicine health system, Sharon O’Keefe oversees a clinical enterprise with annual operating revenue of $2.21 billion. In the past 18 months, UChicago Medicine opened an expanded adult emergency department—a $39 million investment—and an adult trauma center. Since 2011, the system has generated annual growth of nearly 5 percent in revenue and 4 percent in patient admissions. O’Keefe previously was president of Loyola University Medical Center and executive vice president and chief operating officer at Boston’s Beth Israel Deaconess Medical Center. She serves on the Illinois Hospital Association finance and audit committee and is on the American Heart Association’s Midwest affiliate board.
What new audit shows about Parkview Health finances
FORT WAYNE, Ind. (WANE) — An independent audit of Parkview Health and its subsidiaries showed strong 2025 financial growth at a time many Indiana hospitals struggled, but did little to quiet …
At hospital finance conference, a call to end the friction that’s keeping costs high
Hospital execs agree that affordability is a major issue. What to do about it is less clear.
At hospital finance conference, a call to end the friction that’s keeping costs high
Hospital execs agree that affordability is a major issue. What to do about it is less clear.
Chevron’s CFO on why finance chiefs are defining AI’s business value
Eimear Bonner, a former CTO, explains how the finance organization is using AI.
Social Security is Facing a Political Crisis
On Tuesday the Social Security Trustees released their latest report on the system’s finances. The numbers didn’t change much: Unless something is done, the Old Age Survivors and Disability Insurance (OASDI) program, Social Security’s official name, will be unable to pay full benefits starting in either 2032 or 2034, depending on some technical issues. That’s not far away: If the Trustees are right, the prospect of a Social Security crisis will loom over the next presidential administration. It’s important to understand, however, the nature of the looming crisis. It won’t be an economic crisis. It won’t even be a serious fiscal crisis. Whatever you may have heard, Social Security isn’t in danger of going bankrupt. What we’re facing, instead, is potential political crisis. Congress and the White House could easily take action to sustain America’s retirement system. But given the current state of our politics, there’s no guarantee that they will. There is a widespread misunderstanding of how Social Security works. While Social Security was designed to look like a pension fund, it isn’t. A pension fund pays benefits out of a stock of assets it has accumulated over time. In contrast, Social Security operates as a government transfer program, like food stamps or Medicaid. Now, unlike food stamps — but like the highway trust fund — Social Security is on paper supported by a dedicated tax, the payroll tax, that is assigned to that program. But I say “on paper” because from an economic point of view assigning the payroll tax to Social Security is just an accounting convention. What matters for the U.S. economy is the overall balance between government spending and government revenue, not the difference between one type of spending and one source of revenue. So there’s no inherent economic significance to the fact that by 2034 payroll tax receipts will be insufficient to cover promised benefits. There is, however, a legislative issue. As long as the Social Security Administration can pay benefits out of payroll taxes and its cash reserve, there’s no need for Congress to vote each year to authorize benefits — they just keep going out until further notice. However, once those resources become insufficient, benefits will fall —by 17 percent according to the Trustees — unless Congress passes new legislation that “tops up” Social Security’s finances. Yet the current administration and Republican party are such extremists that there is a real risk that Social Security will be held hostage on behalf of their goals. If this should come to pass, the hostage-takers will claim that shoring up Social Security is unaffordable. Right on cue, Mike Johnson, the Trump-sycophant Speaker of the House, declared on Monday that “entitlement programs” like Social Security “have to be adjusted and fixed,” and that Republicans will introduce a plan to that effect next year. But this is a ploy, because while the cost of maintaining Social Security benefits at their promised level isn’t trivial, it is in fact affordable. According to the Trustees’ report, the actuarial balance of OASDI up through 2050 — the amount of additional funds it would need to keep paying full benefits for the next 25 years — is 1.06 percent of GDP. To put that number in perspective, the Trump administration proposes increasing military spending next year by $420 billion, equivalent to about 1.4 percent of GDP – without any discussion of whether that’s affordable Yet how did we get to the point where Social Security will need to be topped up? The main answer is that we have an aging population, with a growing ratio of retirees collecting benefits to workers paying into the system: Trump’s anti-immigration policies are making this problem worse. According to the Trustees’ report, lower immigration will deepen Social Security’s financial hole because many immigrants are working-age adults who will pay into the system for decades before they collect benefits. In fact, this problem may be much bigger than the report acknowledges: The report’s baseline assumption is that we’ll have net immigration of almost 1.2 million people a year, and even the pessimistic case assumes 750,000 a year. Meanwhile actual net immigration has already been cut far below that — and may now be negative. Moreover, Social Security is being financially damaged by growing income inequality in America. Payroll taxes are levied only on wages up to $184,500, and they don’t touch capital income. With the distribution of income increasingly shifting from labor to capital, as well as becoming more unequal among wage-earners, revenue from the Social Security payroll tax has been falling as a share of national income. From 1990 to 2024, it fell from 5.02 percent of gross domestic income to 4.46 percent. Which brings me to the question that, these days, we ask about everything: How might Social Security be affected by the advent of AI? A short answer: If, as many of us fear, AI accelerates rising income inequality, it will further reduce the payroll tax receipts that currently pay for Social Security and further endanger its finances. On the other hand, if AI, as its advocates promise, leads to faster economic growth, it will increase the potential tax base that could and should be used to support Social Security and other social insurance programs. But to take advantage of that larger base, we’ll have to get serious about taxing wealth and capital income. Is Social Security in trouble? Yes, but only because of the way its financing is currently structured — a structure that no longer works well because our society and economy have become so unequal. Moreover, Trump’s immigration policies are further endangering its already deteriorating financial condition. So don’t believe Republicans’ gaslighting that it will be necessary to cut Social Security benefits. All that is necessary to preserve Social Security is political will to raise taxes on the wealthy and a sensible immigration policy. MUSICAL CODA Actually 67 under current law.
General Motors follows Ford's lead into the battery business
Yahoo Finance Senior Autos Reporter Pras Subramanian joins Julie Hyman on Market Catalysts to discuss General Motors' (GM) partnership with Peak Energy, placing a big bet on sodium-ion batteries. This comes one month after Ford (F) launched Ford Energy to develop energy storage batteries.
Business Restructuring Review Vol. 25 No. 3 May-June 2026
In This Issue Texas Bankruptcy Court Adopts Barnet Rule Requiring Foreign Debtor to Have U.S. Assets to Be Eligible for Chapter 15 Relief In In re Siu-Fung Ceramics Holdings Limited, No. 24-33299, 2026 WL 382424 (Bankr. S.D. Tex. Feb. 10, 2026), the court denied petitions for chapter 15 recognition of Hong Kong bankruptcy and liquidation proceedings commenced on behalf of an individual debtor and a group of companies that he owned or controlled. According to the court: (i) the corporate debtors' Hong Kong liquidation proceeding was not eligible for chapter 15 recognition because the attorney retainer upon which such relief was based was not funded until nine months after the chapter 15 petition date; and (ii) the individual debtor's Hong Kong bankruptcy case could not be recognized because the debtor's "center of main interests" on the chapter 15 petition date was not in Hong Kong, and he did not even maintain an "establishment" there. [read more …] Southern District of Texas Clarifies Post-Purdue Course for Consensual Third-Party Releases and Gatekeeping Provisions In In re Container Store Group, Inc., 676 B.R. 356 (S.D. Tex. 2026), appeal filed, No. 26-20166 (5th Cir. Apr. 14, 2026), cross appeal filed, No. 26-20166 (5th Cir. Apr. 24, 2026), the U.S. District Court for the Southern District of Texas addressed consensual third-party releases and gatekeeping provisions in the aftermath of the U.S. Supreme Court's ruling in Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024). Consistent with existing Fifth Circuit precedent, the court confirmed that, in appropriate circumstances, consent for third-party releases may be obtained through a creditor's failure to opt out of granting that consent. But, the court ruled, consent through an opt-out mechanism essentially can never be inferred for creditor classes that stand to receive no recovery under a chapter 11 plan and that are deemed to reject the plan by operation of applicable bankruptcy law. Instead, those classes must affirmatively opt in to any release. The court also narrowed and remanded the bankruptcy court's acceptance of a broad gatekeeping provision, ruling that such provisions must correspond to the restrictions established by Fifth Circuit precedent. [read more …] Delaware Bankruptcy Court: Initial Transferee Need Not Be Defendant in Fraudulent Transfer Avoidance and Recovery Litigation The Bankruptcy Code gives a bankruptcy trustee the power to avoid asset transfers that are either made with the intent to defraud creditors or that are "constructively" fraudulent because an insolvent debtor did not receive adequate value in exchange. The Bankruptcy Code also permits recovery of an avoided transfer from not only the initial recipient, but also from subsequent transferees. Courts disagree over whether a transfer must actually be avoided before the trustee can seek recovery from a subsequent transferee and whether the initial transferee must also be a defendant in the recovery litigation against a subsequent transferee. The U.S. Bankruptcy Court for the District of Delaware weighed in on this debate in Phillips v. SS Associates LLC (In re ONH AFC CS Investors, LLC), No. 23-10931 (CTG), 2026 WL 312892 (Bankr. D. Del. Feb. 4, 2026). The court adopted the majority view, ruling that the initial transferee need not be a defendant in avoidance and recovery litigation against a subsequent transferee, but that the trustee must establish the elements necessary to avoid the initial transfer as part of the recovery litigation. [read more …] New York Bankruptcy Court Weighs In on Adequate Assurance of Future Performance under Assigned Leases and Chapter 11 Plan Exculpation Provisions In order to assume and assign an executory contract or unexpired lease, a bankruptcy trustee must cure most defaults under the agreement and provide "adequate assurance" of the assignee's future performance. However, the Bankruptcy Code provides no guidance as to the meaning of "adequate assurance" other than with respect to shopping center leases. In In re Broadway Realty I Co. LLC, No. 25-11050, 2026 WL 147505 (Bankr. S.D.N.Y. Jan. 19, 2026), the U.S. Bankruptcy Court for the Southern District of New York examined this issue in connection with a proposed assignment of thousands of residential leases as part of a free-and-clear sale of debtors' properties. The court held that "adequate assurance" does not mean a guarantee of the assignee's future performance, but merely demonstration that the assignee has the ability to satisfy the underlying obligations. The bankruptcy court also ruled that an exculpation provision in the debtors' chapter 11 plan exonerating non-estate fiduciaries from liability for actions taken in connection with the chapter 11 case was unobjectionable, provided it was limited in scope to postpetition conduct and actions taken in connection with implementation of the plan after its effective date. [read more …] Newsworthy Corinne Ball (New York) (Hall of Fame), Bruce Bennett (Los Angeles), Carl E. Black (Cleveland), Jeffrey B. Ellman (Atlanta), Brad B. Erens (Chicago), Gregory M. Gordon (Dallas), Heather Lennox (Cleveland/New York), Joshua M. Mester (Los Angeles), and Kevyn D. Orr (Washington) were included in the 2026 edition of Lawdragon 500 Leading Bankruptcy and Restructuring Lawyers. The Daily Business Review selected Isel M. Perez (Miami) as an "On the Rise" winner for the Florida Legal Awards. The Florida Legal Awards annually recognize those who have made significant contributions to the legal industry in Florida. Dan T. Moss (Washington/New York) was inducted as a Fellow in the 37th Class of the American College of Bankruptcy at its Annual Meeting in March 2026 in San Antonio, Texas. Christine Borries (Munich) was ranked in the practice area Restructuring/Insolvency in the 2026 edition of Chambers Germany. The 2027 edition of The Best Lawyers in Singapore™ recognized Sushma Jobanputra (Singapore) in the practice area Insolvency & Reorganization. The restructuring transaction involving Eissmann Automotive North America, Inc. received the "2025 Turnaround of the Year (Large Company)" at the Turnaround Management Association (Detroit) Annual Awards Reception. T. Daniel Reynolds (Cleveland) and Nick Buchta (Cleveland) represented subsidiaries of Eissmann Group Automotive in connection with the parent company's German insolvency proceedings. Roger Dobson (Sydney) is among 40 Jones Day lawyers recognized by The Best Lawyers in Australia 2027 for his contributions in Banking and Finance Law; Distressed Investing & Debt Trading; Insolvency and Reorganization Law; Litigation. An article written by Corinne Ball (New York) titled "Ard Finance—A Global Enterprise Combining an LME With a Foreign Insolvency Proceeding and Chapter 15" was published in the April 21, 2026, edition of the New York Law Journal. An article written by Alex Sapp (New York) titled "Recent Developments in Section 510—Subordination" was published in the 2025 edition of the Norton Annual Survey on Bankruptcy Law. An article written by Brad B. Erens (Chicago) titled "New York Bankruptcy Court Approves Insider DIP Litigation Financing" was published on April 6, 2026, by Lexis Practical Guidance. An article written by Corinne Ball (New York), Dan T. Moss (Washington/New York), David S. Torborg (Washington), and Isel M. Perez (Miami) titled "New York District Court Affirms Narrow Scope of 'Public Policy Exception' in Chapter 15 Cases" was published on April 6, 2026, by Lexis Practical Guidance. An article written by Jeffrey B. Ellman (Atlanta) titled "Statutory Cap on Lease Rejection Damage Claims in Bankruptcy Applies to Solvent Debtors" was published on April 6, 2026, by Lexis Practical Guidance. An article written by Trisha L. Mowbray (Real Estate; Chicago) and Ryan Sims (Washington) titled "Chapter 11 Plan that Abridged Non-Debtor Lessee's Rights to Remain in Possession After Rejection Unconfirmable as Having Been Proposed in Bad Faith" was published on April 6, 2026, by Lexis Practical Guidance. Lawyer Spotlight: Ben Rosenblum Ben Rosenblum, a partner in the New York Office, represents debtors, creditors, and other parties in out-of-court restructurings and court-supervised proceedings, including chapter 11 cases, municipal bankruptcies, international insolvency matters, and stockbroker liquidations. His experience spans industries such as manufacturing, shipping, mining, aviation, energy, real estate, and telecommunications. Ben's notable debtor representations include Peabody Energy, the City of Detroit, Chrysler LLC, Spansion Japan, and Dana Corporation. Significant creditor representations include General Maritime Corporation, Calpine Corporation, American Home Mortgage, and Murray Energy. He currently represents creditors in Puerto Rico's restructuring. He also has extensive experience advising financial institutions on bankruptcy law as applied to derivatives.
Quit job at Fortune 500 company to care for mom, now can't pay bills
Kathy Mullen, 64, left her job at a Fortune 500 company to care for her mother with Alzheimer's, negatively impacting her health and finances.
Germany Politics
German Chancellor Friedrich Merz, right, and Vice Chancellor and Finance Minister Lars Klingbeil attend the cabinet meeting at the chancellery in Berlin, Germany, Wednesday, June 10, 2026. (AP Photo/Markus Schreiber)
College of Business grad’s investment prowess leads to prestigious summer program at Harvard
Most undergraduate students do not manage $6.2 million in assets, but Dola Popoola is not most students. While completing her double major in finance and marketing, the Oregon State University Presidential Scholar and soon-to-be College of Business graduate also served as president of the Oregon State Investment Group, one of the top 25 student-managed investment funds in the nation. That experience helped cement her love of finance and taught her what it takes to be successful in the industry, she said.
Social Security retirement trust fund will run dry in 2032 unless Congress acts
Tens of millions of retirees and other Americans could see smaller monthly Social Security checks in six years if lawmakers don’t act to shore up the program’s finances, according to an annual report released Tuesday by Social Security’s trustees.
From Classroom to Racetrack: How Charlie Baur is Building a Motorsports Career in a Business Discipline
Charlie Baur can trace his racing story back to a Christmas morning in Michigan — the kind that starts with snow on the ground and ends with a throttle in a kid’s hands. “I remember being 3 years old and then for Christmas that year, my parents had gotten me a 120 cc snowmobile,” Baur said. Long before sprint cars, he was a Michigan kid on snowmobiles, dirt bikes, four-wheelers and jet skis — and a regular at car shows and races with his family. Photo courtesy of Charlie Baur That early exposure became a calling. At 12, he sat in a sprint car for the first time and knew he’d found the next chapter. He started in quarter midgets, moved to go-karts, and the day before he turned 16 — one day shy of the minimum age required by track insurance — he made his first sprint car start after convincing officials to let him race. Five years later, Baur is still pushing forward, now racing sprint cars on both pavement and dirt while pursuing an automotive business education at Northwood University — with a clear-eyed understanding that motorsports encompasses more than what happens under the lights on Saturday night. “It’s a business,” said Charlie, a 20-year-old who calls Fenton, Michigan, home when he’s not at a racetrack or at Northwood’s residential campus in Midland, Michigan. Photo courtesy of Charlie Baur Racing is the product — but preparation is the job To the average fan, race day begins around dinner time. For a team, race day can be a 12-hour shift — plus the work that came before it. And Baur’s racing operation is a family affair. “The team is my parents and myself,” he said, explaining they own the cars, maintain equipment and manage the business side — from sponsor relations to budgeting. On race weekends, the core group includes Baur and his parents (Eric and Stefanie), plus a couple of additional hands (Alex Photiou and Robert Flannigan) who help with the intensity and pace of trackside work. That structure has shaped how he thinks about efficiency and professionalism. “We’ve always kind of had the mentality of we’re never working on the car for maintenance at the track,” he said. “Our goal is to do as little work as possible to the car because it should be ready when that car rolls out of the trailer to go racing.” That mindset shows up in routines: bolt checks, tire procedures, safety equipment and a repeatable process designed to limit errors. “Once I fire the car up and put my helmet on, that’s when it’s go time,” he said. “You can plan as much as possible for how the race is going to play out, but until you take the green flag … you don’t know how it’s going to go.” Photo courtesy of Charlie Baur First-generation driver, student of the game In racing, “first-generation” matters — and Baur wears that label with pride. “A lot of the drivers are third or fourth generation,” he said. “My family has never been in motorsports. So for me, we’ve always looked at it as we’re new to it and we want to be as different as possible. From a marketing standpoint, it helps us stand out.” It also pushes him to seek out mentors — especially veteran drivers who have seen every scenario, solved every problem and won in multiple eras. Baur credits accomplished driver Jason Blonde, a 10-time champion, for becoming his driver coach and helping him develop as a competitor. “To me, learning from Jason helps me because he has had lots of success and knows what to do,” Baur said. “You have to humble yourself and say, ‘I don’t know what to do; can you help me out?’” That willingness to learn extends off the track, too. Baur says one of his biggest challenges is not a mechanical limitation, but credibility. “It’s my age,” he said. “Some people won’t take me seriously because I’m so young. Even though … I do know what we’re talking about and have a general idea.” His answer has been to out-prepare, out-communicate and treat the operation like a real enterprise — because it is. Photo courtesy of Charlie Baur Northwood’s role: Turning passion into a plan Baur is majoring in automotive aftermarket management and pursuing an accelerated path that pairs undergraduate study with graduate work. He’s also exploring how to align his studies with motorsports-focused coursework as Northwood advances related programs and pathways. He sees the value clearly: motorsports needs business-literate professionals who understand budgets, sponsorship, marketing, operations and long-term strategy — and who can translate between the language of the shop and the language of the boardroom. That’s why his Northwood experience isn’t limited to the classroom. He has been involved with the Northwood University International Auto Show and serves as motorsports chair — a leadership role that demands outreach, contracts, coordination and a steady professional demeanor. “There’s so much outside work that makes the auto show successful that people don’t realize,” he said. “And it is truly student led.” He’s also participated in industry experiences through Northwood at major events such as AAPEX, SEMA and PRI, along with other automotive networking events — opportunities he describes as a fast track to understanding how business really gets done. “You learn a lot in the classroom,” he said. “But if you learn it and you can’t apply it to the real world, it loses its value. Or if you learn it and can apply it, but you don’t know anyone, it is still of no value.” In his words, Northwood helps him win because it “gives me the tools to succeed” — including flexibility and faculty support as he balances travel and racing commitments with academics. Photo courtesy of Charlie Baur Racing as an ecosystem — and a talent gap waiting to be filled Baur is blunt about what he sees across the motorsports world: a deep bench of experienced professionals, and not enough young talent entering the pipeline. “I go to car shows, I go to these different events, and typically … the average age is between 45 to 55,” he said. “There’s not a lot of young people going into the motorsports world.” That reality reinforces Northwood’s communications focus: positioning motorsports not as a narrow lane, but as a wide ecosystem of business careers — sponsorship, logistics, data, media, leadership, hospitality and innovation — with real demand for prepared graduates. It also shapes how Baur talks to younger students who love racing but aren’t sure what their future looks like. “If you have a passion for motorsports, there’s gonna be a spot for you somewhere,” he said, emphasizing that driving is only one of many career paths — and that local tracks and hands-on experience are often the best first step. But if someone is interested in driving as a career path, it will take a team to make that happen. Baur’s team includes Stahl’s Motors and Music Experience, Rhino Racing, Randy Wise Buick GMC Chevrolet, Western Michigan Fleet Parts, Mother’s Polish, Schaeffer’s Oil, Hepfner Racing Products, Ameriguard Storage Centers, Justice Brothers, Race 1 Wraps, TBM Brakes, Behind Your Design, CharlieBaur.com and Northwood University. “There are so many people who invest not only in myself but in my race team and who believe in us to succeed,” he added. Pictured: Charlie Bauer’s sprint race car. Looking ahead: A headline worth chasing Ask Baur to imagine 2035, and he’ll give you two answers — one dream, one blueprint. “In a perfect world,” he said, “winning the Indy 500.” Realistically, he wants to build a life where business ownership and racing reinforce each other and where he can pay forward the help he has received by mentoring younger drivers, especially those trying to break into motorsports without a family legacy. “When I retire from full-time racing, I want to be able to provide the same opportunities that were presented to myself to the next generation of drivers,” Baur said. “I know how difficult it is to get your foot in the door.” For now, the focus is simple: keep building the operation, keep learning the business, and keep showing up prepared — because in sprint car racing, as in life, process matters. And once the helmet goes on? “It’s go time,” Baur said. Photo courtesy of Charlie Baur Learn more Students interested in motorsports careers — whether in competition, team operations, marketing, finance, sponsorship, data, or management — can explore opportunities through Northwood University’s Center for Automotive and Mobility Studies. For Charlie Baur’s latest motorsports adventures, follow Charlie_Baur and Charlie Baur Racing on social media. To learn more about Northwood’s Bachelor of Business Administration in Automotive and Mobility Studies and motorsports management concentration, visit www.northwood.edu/programs/automotive-mobility-studies/. Photo courtesy of Charlie Baur Pictured: Charlie Baur at Butler Motor Speedway on May 31, 2026. Share this page
Michigan’s Medicaid expansion improved both health and finances
Michigan’s Medicaid expansion, called the Healthy Michigan Plan, helped individuals’ physical, mental and financial health, and supported the hospitals and clinics used by all Michiganders.
Michigan’s Medicaid expansion improved both health and finances
Michigan’s Medicaid expansion, called the Healthy Michigan Plan, helped individuals’ physical, mental and financial health, and supported the hospitals and clinics used by all Michiganders.
I quit my finance job in Manhattan and moved to Mexico to fish, surf
After leaving her finance career in NYC, Mary Grigsby moved to Mexico and started a fly-fishing business. She's now a mother with no plans to leave.
Platner floats jailing billionaires in fiery pre-primary speech pushing far-left agenda
Maine Senate candidate Graham Platner floated the idea of jailing billionaires over campaign finance violations in a fiery pre-primary speech that laid out his far-left agenda.
Rollins College of Business Alumni Spotlight: Benjamin Cheatham on His Path from UTC to J.P. Morgan - Gary W. Rollins College of Business
UTC accounting and finance alumnus Benjamin Cheatham launched a successful career at after graduating from the Rollins College of Business.
What It Takes To Be A Top Tier Entertainment Lawyer in 2026
Share I’ve recently run several popular posts breaking down data related to sought after legal jobs. General Counsel Big Law Appellate Attorney Here is another in this series. Two Lawyers, One Elite Market Entertainment law can sound like a single professional category. In practice, the lawyers who reach the top of the Hollywood market often look quite different from one another. Consider two attorneys from the 2025 top-entertainment-law universe. Lesley Freeman represents one route: the company-side entertainment lawyer. She is chief legal officer of AGBO, where she oversees company-wide business and legal affairs across film, television, video game and interactive experiences, and technological innovation, after senior legal roles at MGM, Amazon MGM Studios, HBO, and O’Melveny. Daniel Petrocelli represents another route: the outside-counsel trial lawyer. He is chair of O’Melveny’s trial practice and a vice chair of the firm, with a national litigation practice that includes entertainment, sports, and media disputes. Their careers differ by platform, role, practice area, and professional identity. One sits inside an entertainment company; the other practices from a major law firm. One is associated with corporate and governance work; the other with litigation. Yet both fall within the same publicly recognized top tier of Hollywood lawyers. That contrast points to the article’s central question. If there is no single mold for a top entertainment lawyer, are the paths simply idiosyncratic, or do they follow recurring patterns? The data suggest the latter. The attorneys recognized on The Hollywood Reporter and Variety’s 2025 top-attorney lists do not follow one career template, but their paths are not random. They cluster around several defined routes: entertainment-focused private practice, company-side or operator experience, corporate and finance conversion, litigation conversion, public-service-to-litigation pathways, and smaller specialized lanes in labor, employment, and celebrity family law. Across those routes, the recurring ingredients are platform strength, educational capital or Los Angeles market proximity, long career tenure, specialized practice identity, and entertainment-industry fluency. The article examines five dimensions of the top-attorney sample: route into entertainment law, firm or organizational platform, education pipeline, seniority, and practice specialization. Data and Methodology The dataset includes 103 attorneys drawn from The Hollywood Reporter and Variety’s 2025 lists of top entertainment or Hollywood attorneys. For each attorney, the dataset tracks current organization, law school, J.D. year where available, first-known bar admission year, practice area, prior roles, platform type, and route into entertainment law. The sample is best understood as a recognized-attorney dataset, not a census of all entertainment lawyers. It captures lawyers who reached public top-tier recognition in 2025, rather than every lawyer practicing in the entertainment sector. Multiple but Defined Routes Into Entertainment Law The first question is how these lawyers entered the entertainment-law market. Because every attorney in the dataset is entertainment-related by definition, the key distinction is not whether they practice entertainment law. It is how they got there. The largest group followed what might be called the entertainment private-practice route. These attorneys appear to have built their practices around entertainment, media, talent, music, rights, production, intellectual property, or adjacent industry work relatively early. That route accounts for 40 of the 103 attorneys in the sample, or 38.8%.
UMW College of Business Celebrates Alumni Achievement at Annual Awards
byWith a solid foundation in finance, marketing and management, University of Mary Washington business graduates go on to careers in executive leadership, entrepreneurship and public service.At the annual College of Business Alumni Awards – held in Woodard Hall during Reunion Weekend – Mary Washington honored grads who have excelled in their professions, from founding supportive […]
What new DBE rules mean for Illinois’ smaller contractors
Federally financed construction projects that helped women and minority businesses grow may become less available to them now.
How PE Guy became a million-dollar business in just a year
Johnny Hilbrant's joke parodying annoying finance bros has become a hit. They would be shocked by how much he makes off of "silly little skits."
AJ Patton
Scope of work: A.J. Patton founded 548 Capital and 548 Development to help transform communities and their impact on the planet, developing solutions for the housing, environmental and economic issues facing inner cities. In 2022, he combined the firms into 548 Enterprise.Biggest professional win: 548 Capital rehabilitated a once-decrepit 79th Street building into a sustainable project with 28 affordable units, each with energy-efficient lighting, high-performance windows and state-of-the art HVAC systems, and it will soon include solar photovoltaic rooftop panels.Other contributions: Patton, a member of Crain's 40 Under 40 Class of 2022, is a member of the American Council on Renewable Energy’s Accelerate program, the Chicago Business Leadership Council banking and finance co-chair and a member of the World Leaders Forum board.Crain's 40 Under 40 Class of 2022
http://democrats-energycommerce.house.gov/media/press-releases/americans-face-brunt-republicans-disastrous-health-care-cuts
House Energy and Commerce Committee Ranking Member Frank Pallone Jr. (D-NJ) and Senate Finance Committee Ranking Member Ron Wyden (D-OR) today released their latest report monitoring the terrible impact of Donald Trump and Republicans’ health care agenda, with a focus on the fallout of the Republican Big Ugly Bill.
Wild card for SpaceX is the AI business, says NYU finance professor Damodaran
Aswath Damodaran, NYU School of Business, joins 'Closing Bell' to talk SpaceX IPO valuation.
Huge News For Apple and Nvidia Stock Investors
Apple's Next Siri May Run on Nvidia Chips via Google Cloud Deal
‘It is unsustainable’: Reform’s billionaire donors inspire panic in Westminster
While huge donations are nothing new in UK politics, some fear electoral finance is distorting democracy itself
The Small-Business Owners Managing Whole Armies of A.I. Employees
When you turn A.I. agents loose on your finances, email and customers, what could possibly go wrong?
WATCH: Rubio scorches claim Trump weighed finances in Iran decisions: ‘Not even for a millisecond’
Secretary of State Rubio calls allegations that Trump considered personal finances in Iran decisions "completely false" during heated House hearing.
Evoke Entertainment Secures $35 Million Production Financing Facility to Accelerate Expanding Film & Television Slate
Institutional capital partnership strengthens independent studio's ability to finance and produce content across film, television, and streaming platforms Stan Spry CEO Stan Spry, CEO Evoke Entertainment LOS ANGELES, June 03, 2026 (GLOBE NEWSWIRE) -- Evoke Entertainment has secured a senior secured production financing facility of up to $35 million backed by a leading institutional private credit fund with extensive experience in media, entertainment, and asset-based lending.The revolving produc
SFA business students gain global edge through immersive study abroad tour of Spain and Portugal
NACOGDOCHES, Texas –– Nearly 50 students from Stephen F. Austin State University’s Nelson Rusche College of Business participated in an intensive, faculty-led study abroad program in Spain and Portugal May 10-21.Led by Dr. Matthew Lindsey, chair of the Department of Management and Marketing, and Dr. Mikhail Kouliavtsev, chair of the Department of Economics and Finance, the experiential learning trip bridged classroom business theory with real-world international operations across the Iberian Peninsula.
Franklin Templeton says Wall Street fears blockchain because it threatens its profits
Jenny Johnson, Franklin Templeton's CEO, said blockchain and crypto threaten a huge number of business models that exist today in traditional finance.
Rogers? Kroupi? Alvarez? Gunners weigh up incomings and sales
Mikel Arteta has been central to the club's planning for next season, with the Gunners targeting a central midfielder, forward and full-back in the transfer market. Given last season's £250m spend on new players, a number of player renewals and lucrative bonuses paid to players in lieu of their Premier League success, the club are mindful of ensuring finances are balanced during the close season. For the forward position, three players are known to be on the shortlist - Aston Villa's Morgan Rogers, Bournemouth's Eli Junior Kroupi and Atletico Madrid's Julian Alvarez.
Steph Ruhle: MASSIVE checks for politics are “only getting bigger”
For billionaires to "write big checks right now, it's like water. When you think about the amount of money in AI, in crypto, even in finance right now, they're writing such giant checks because they know from a Donald Trump presidency you can't just influence politics, you can control it." Stephanie Ruhle breaks down why sums of money injected into politics are only getting larger.
WATCH LIVE: Senate Democratic leaders may address Bill Pulte for DNI, 'anti-weaponization fund'
Senate Democratic Leader Chuck Schumer criticized President Donald Trump’s decision to tap his housing finance director as acting director of national intelligence, saying Bill Pulte is “a partisan thug with no experience in intelligence.”
New acting spy chief will be Bill Pulte, housing finance director who's attacked perceived Trump foes
Pulte’s current role involves ensuring the soundness of the mortgage market, but he morphed into a megaphone who went after the Republican president’s perceived political foes.
URI’s Abby Benson honored as Providence Business News’ ‘Woman to Watch’
KINGSTON, R.I. – June 1, 2026 – Abby Benson, the University of Rhode Island’s vice president of administration and finance, was recently honored as a “Woman to Watch” within education by the Providence Business News. Benson was formally recognized by PBN during its Business Women Awards ceremony held in late May at the Marriott Providence. […]
MidFirst Business Credit Expands Southeast Team
MidFirst Business Credit, a division of MidFirst Bank, added two senior commercial finance professionals to its growing team. Norb Schmidt and David Ellington
Watch Remembering the Life and Work of Jonathan Clements: Masters in Business
Barry sits down with Jason Zweig and William Bernstein. They discuss "Money and Me" the last book of author and journalist Jonathan Clements. Jason and William also examine Clements's approach to personal finance and impact to financial journalism.
Highlights: What Betamax Teaches Us About AI – The Business of Entertainment: 2nd Princeton CorpGov Forum
Watch Highlights Video Below: CorpGov hosted the second Princeton CorpGov Forum on May 21, 2026, at The Nassau Inn in Princeton, New Jersey. Speakers featured industry leaders and alumni spanning five decades at Princeton, and topics comprised university endowments, shareholder activism, private equity, venture capital, private and public capital markets, entertainment and the finance of […] The post Highlights: What Betamax Teaches Us About AI – The Business of Entertainment: 2nd Princeton Corp
Fertitta Entertainment Agrees to Acquire Caesars Entertainment in $17.6B Deal
HOUSTON, LAS VEGAS AND RENO, NEV. — Fertitta Entertainment Inc., a private holding company controlled by the NBA’s Houston Rockets governor (i.e. owner) Tilman Fertitta, has entered into a definitive agreement to acquire casino and gaming giant Caesars Entertainment (NASDAQ: CZR) for $17.6 billion. Fertitta Entertainment plans to finance the acquisition through a combination of equity, assumed Caesars’ outstanding debt (approximately $11.9 billion) and new committed debt financing arranged by a consortium of 10 banks. Under terms of the agreement, Caesars shareholders will receive $31 in cash for each outstanding share, which represents a 49 percent premium to the company’s unaffected stock price on Feb. 25 (the last trading day before rumors of a potential transaction were reported) — $20.77 per share. Upon completion of the transaction, shares of Caesars Entertainment common stock will no longer be listed on the NASDAQ stock exchange. Caesars operates several major Las Vegas Strip properties, such as Caesars Palace, Harrah’s, Paris Las Vegas, Planet Hollywood, Horseshoe, The LINQ Hotel, Flamingo and The Cromwell. Fertitta Entertainment owns Golden Nugget Hotels & Casinos and operates more than 450 full-service restaurants around the world, including Landry’s, Rainforest Café and Morton’s. According to the press releases issued by both companies,…
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As affordability concerns remain top of mind for many Americans, a timely KFF report examines Medicare beneficiary finances and health care costs, lending context to these anxieties. Recent KFF polling found that as health care costs continue to grow and cost-of-living increases stress household budgets, paying for care and coverage tops the list of consumer financial concerns. In total, 64% of households […]
Polish scientists and students rally in campaign for 3% funding target
Polish scientists and students have been flooding social media with calls on the government to raise research and development spending as part of 3% for Science, 100% for Poland, a campaign born earlier this month out of frustration with chronic underfunding in the academic sector. On May 27, thousands took the slogan on to the streets.The EU has been trying to convince member states to raise their R&D expenditures to 3% of GDP for more than two decades, but the idea has never gained traction in capitals. Finance ministers were too busy plugging budget holes created in the aftermath of the 2008 crisis, then the Covid pandemic, the war in Ukraine, and now the war in Iran.Critics say that countries missed or ignored the target because it is voluntary, but also because research communities have rarely raised their voice to put pressure on national governments. The European Commission hopes to make the target legally binding in the upcoming European Research Area Act, an EU-wide regulation that should be announced by the end of the year. Academia in Poland has been faced with a funding crisis for years, often leaving its members with no other choice but to work abroad in order to access better resources, or leave the sector altogether in the hope of earning a decent living. The risk, in the long-term, is that brain drain stifles local innovation capacity and technological competitiveness.In just a few weeks, the movement rallied nationwide support, including from major academic bodies and trade unions such as the Conference of Rectors of Academic Schools in Poland and the Presidium of the Polish Academy of Sciences. Its public petition collected more than 23,000 signatures. On May 27, it formed the first large protest for science in Poland, gathering thousands of people in front of the parliament building in Warsaw.Ilona Uryga-Bugajska, representative of the Marie Curie Alumni Association Poland Chapter, was there. “The protest was peaceful, with no incidents reported, and the entire event took place in a respectful and calm atmosphere,” she said. Banners she saw in the crowd carried slogans such as “A little longer and I’ll be teaching in a supermarket,” “National culture, starvation salary,” “Stop the destruction of science,” “Passion will not pay the rent,” “Without action, don’t expect a better future,” and “Pull science out of the hole.” She also observed a strong presence of young researchers, who are on the frontline of Poland’s academic crisis.“Academics are usually people who prefer discussion, analysis, dialogue and compromise. We are not a group that protests easily,” said Katarzyna Marzec, professor at the Faculty of Pharmacy of the Jagiellonian University Medical College and AGH University of Krakow, who also took part. “But many of us feel that we have been pushed against the wall.”Aleksandra Rutkowska, translational neuroscientist and research group leader at the Medical University of Gdańsk, agreed. “Frustration in the scientific community is very high,” she said. “Science is often used politically as a symbol of innovation and modernity, but the everyday reality inside many institutions is much more difficult. There is a large gap between the public narrative and the actual condition of the sector.”Maria Wiktoria Górna, head of the structural biology group at the University of Warsaw and one of the organisers of the movement, told Science|Business that the campaign would continue without proven results. This might involve another strike in the autumn, she said. “Empty promises are not enough by now.”Campaign demandsAccording to Uryga-Bugajska, the organisers officially presented their demands and concerns to representatives of the government present at the event. These included Marek Gzik, deputy minister of science and higher education, and Karolina Zioło-Pużuk, secretary of state of that same ministry.The headline demand, for the government to increase national spending on R&D to 3% of GDP by 2030, should be within Poland’s economic capacity, Rutkowska said. “The real question is whether there is genuine long-term political commitment to treating science as a strategic priority rather than a slogan.”In 2024, R&D expenditure in Poland stood at 1.41% of GDP, which is slightly above the average for central and eastern Europe, with countries such as Czechia recording 1.82%, Hungary 1.31% and Romania 0.46%. However, it falls noticeably short of the EU average of 2.24%, which just a handful of countries exceed, including Germany, Belgium and Sweden.Campaigners are also asking for fair wages for scientific staff, including PhD stipends and junior academic salaries, which are widely considered uncompetitive. Starting doctoral scholarships amount to some €843 gross per month, when the statutory minimum wage stands at €1,135. By pushing early-career researchers out of Poland, growing precarity has caused a generational gap in the academic workforce, with just 25% of lecturers aged under 40. In this context, the movement fears that scientific careers could soon be accessible to a privileged minority only.Grzegorz Spólnik is a case in point. After 15 years working in mass spectrometry at the Polish Academy of Sciences, he decided to leave partly “to earn enough money to live a normal life,” he said. “At that time, my earnings were similar to those of people working in grocery shops, and the work-life balance is something that does not exist in science, or is very hard to achieve.”Now a senior field service engineer for Polish laboratory equipment supplier Bioanalytic, he would consider going back to research, “but never in the public sector, maybe some start-up or a big private company with ambitious R&D.”The campaigners want to see more support for basic research and have called for €236 million to be added to the budget of the National Science Centre (NCN) in 2027 so that the average grant application success rate does not fall below 25%.“At the protest, there was a banner I particularly liked: ‘NCN is not a lottery.’ Unfortunately, for many researchers, it increasingly feels exactly like one,” Marzec said. “Personally, I am one of the lucky ones. I work at two of the strongest institutions in the country, where the research standards are very high. I know that in many other institutions, the situation is much worse and obtaining funding for research at an early-career stage is becoming nearly impossible.”Rutkowska also considers herself fortunate. After studying abroad and holding a postdoctoral position, she returned to Poland, where her pay was supported through an NCN-funded project linked to the Marie Skłodowska-Curie Actions. “This also made me very aware that good research conditions in Poland often depend on external competitive funding rather than on stable support from the system itself,” she said.Long-term strategyBeyond the lack of funds for both salaries and grants, scientists believe that the issue is structural. “The biggest problem at the moment is the complete lack of a clear long-term strategy for the development of science and research from the current government,” Marzec said. “Everything ends with declarations and promises that are never truly followed by concrete actions or structural reforms.”Rutkowska agreed, citing a lack of infrastructure, continuity and long-term institutional support.“Running a research group in Poland often means functioning as an entire institution at once,” she said. “I am a principal investigator, a mentor, a recruiter, a project administrator and, when needed, still someone who returns to the lab bench to help with experiments,” she went on. “This creates a large hidden workload that takes time and energy away from actual science. At times, it feels as though scientists are no longer expecting extra help; we simply hope the system will stop creating additional obstacles that make research unnecessarily difficult.”Related articlesStrategic thinking: Germany funds joint research with Poland and FrancePoland to transfer €30M of regional funds to boost Horizon Europe participationPoland is funding fewer basic research grants as high inflation hitsIn short, “academics are expected to teach, publish papers, apply for grants and conduct high-quality research, while funding and salaries remain very limited,” said Uryga-Bugajska, who returned to her home country after 13 years in the UK.According to Marzec, another issue is the way that research institutions are evaluated. Previously, this took place every four years, with a clear differentiation between stronger and weaker institutions. “The current government, perhaps to avoid political backlash, effectively concluded that everyone is doing well, so in practice no meaningful evaluation took place,” she said.But in her view, “some form of serious assessment is necessary” to ensure the excellence and international competitiveness of Polish institutions, and to determine how to best use public resources and where institutional structures need reform. “Some institutions may need to rethink hiring practices in order to attract ambitious young researchers who are capable of obtaining competitive grants and building internationally visible research groups.” Rutkowska has already had to adapt. “When hiring PhD students, I often have to combine different funding sources creatively to make positions attractive enough for talented people to stay in science,” she said. “Many young researchers do not see a stable future in academia in Poland, and that is deeply worrying.”
Polish scientists and students rally in campaign for better conditions
Polish scientists and students have been flooding social media with calls on the government to raise research and development spending as part of 3% for Science, 100% for Poland, a campaign born earlier this month out of frustration with chronic underfunding in the academic sector. On May 27, thousands took the slogan on to the streets.The EU has been trying to convince member states to raise their R&D expenditures to 3% of GDP for more than two decades, but the idea has never gained traction in capitals. Finance ministers were too busy plugging budget holes created in the aftermath of the 2008 crisis, then the Covid pandemic, the war in Ukraine, and now the war in Iran.Critics say that countries missed or ignored the target because it is voluntary, but also because research communities have rarely raised their voice to put pressure on national governments. The European Commission hopes to make the target legally binding in the upcoming European Research Area Act, an EU-wide regulation that should be announced by the end of the year. Academia in Poland has been faced with a funding crisis for years, often leaving its members with no other choice but to work abroad in order to access better resources, or leave the sector altogether in the hope of earning a decent living. The risk, in the long-term, is that brain drain stifles local innovation capacity and technological competitiveness.In just a few weeks, the movement rallied nationwide support, including from major academic bodies and trade unions such as the Conference of Rectors of Academic Schools in Poland and the Presidium of the Polish Academy of Sciences. Its public petition collected more than 23,000 signatures. On May 27, it formed the first large protest for science in Poland, gathering thousands of people in front of the parliament building in Warsaw.Ilona Uryga-Bugajska, representative of the Marie Curie Alumni Association Poland Chapter, was there. “The protest was peaceful, with no incidents reported, and the entire event took place in a respectful and calm atmosphere,” she said. Banners she saw in the crowd carried slogans such as “A little longer and I’ll be teaching in a supermarket,” “National culture, starvation salary,” “Stop the destruction of science,” “Passion will not pay the rent,” “Without action, don’t expect a better future,” and “Pull science out of the hole.” She also observed a strong presence of young researchers, who are on the frontline of Poland’s academic crisis.“Academics are usually people who prefer discussion, analysis, dialogue and compromise. We are not a group that protests easily,” said Katarzyna Marzec, professor at the Faculty of Pharmacy of the Jagiellonian University Medical College and AGH University of Krakow, who also took part. “But many of us feel that we have been pushed against the wall.”Aleksandra Rutkowska, translational neuroscientist and research group leader at the Medical University of Gdańsk, agreed. “Frustration in the scientific community is very high,” she said. “Science is often used politically as a symbol of innovation and modernity, but the everyday reality inside many institutions is much more difficult. There is a large gap between the public narrative and the actual condition of the sector.”Maria Wiktoria Górna, head of the structural biology group at the University of Warsaw and one of the organisers of the movement, told Science|Business that the campaign would continue without proven results. This might involve another strike in the autumn, she said. “Empty promises are not enough by now.”Campaign demandsAccording to Uryga-Bugajska, the organisers officially presented their demands and concerns to representatives of the government present at the event. These included Marek Gzik, deputy minister of science and higher education, and Karolina Zioło-Pużuk, secretary of state of that same ministry.The headline demand, for the government to increase national spending on R&D to 3% of GDP by 2030, should be within Poland’s economic capacity, Rutkowska said. “The real question is whether there is genuine long-term political commitment to treating science as a strategic priority rather than a slogan.”In 2024, R&D expenditure in Poland stood at 1.41% of GDP, which is slightly above the average for central and eastern Europe, with countries such as Czechia recording 1.82%, Hungary 1.31% and Romania 0.46%. However, it falls noticeably short of the EU average of 2.24%, which just a handful of countries exceed, including Germany, Belgium and Sweden.Campaigners are also asking for fair wages for scientific staff, including PhD stipends and junior academic salaries, which are widely considered uncompetitive. Starting doctoral scholarships amount to some €843 gross per month, when the statutory minimum wage stands at €1,135. By pushing early-career researchers out of Poland, growing precarity has caused a generational gap in the academic workforce, with just 25% of lecturers aged under 40. In this context, the movement fears that scientific careers could soon be accessible to a privileged minority only.Grzegorz Spólnik is a case in point. After 15 years working in mass spectrometry at the Polish Academy of Sciences, he decided to leave partly “to earn enough money to live a normal life,” he said. “At that time, my earnings were similar to those of people working in grocery shops, and the work-life balance is something that does not exist in science, or is very hard to achieve.”Now a senior field service engineer for Polish laboratory equipment supplier Bioanalytic, he would consider going back to research, “but never in the public sector, maybe some start-up or a big private company with ambitious R&D.”The campaigners want to see more support for basic research and have called for €236 million to be added to the budget of the National Science Centre (NCN) in 2027 so that the average grant application success rate does not fall below 25%.“At the protest, there was a banner I particularly liked: ‘NCN is not a lottery.’ Unfortunately, for many researchers, it increasingly feels exactly like one,” Marzec said. “Personally, I am one of the lucky ones. I work at two of the strongest institutions in the country, where the research standards are very high. I know that in many other institutions, the situation is much worse and obtaining funding for research at an early-career stage is becoming nearly impossible.”Rutkowska also considers herself fortunate. After studying abroad and holding a postdoctoral position, she returned to Poland, where her pay was supported through an NCN-funded project linked to the Marie Skłodowska-Curie Actions. “This also made me very aware that good research conditions in Poland often depend on external competitive funding rather than on stable support from the system itself,” she said.Long-term strategyBeyond the lack of funds for both salaries and grants, scientists believe that the issue is structural. “The biggest problem at the moment is the complete lack of a clear long-term strategy for the development of science and research from the current government,” Marzec said. “Everything ends with declarations and promises that are never truly followed by concrete actions or structural reforms.”Rutkowska agreed, citing a lack of infrastructure, continuity and long-term institutional support.“Running a research group in Poland often means functioning as an entire institution at once,” she said. “I am a principal investigator, a mentor, a recruiter, a project administrator and, when needed, still someone who returns to the lab bench to help with experiments,” she went on. “This creates a large hidden workload that takes time and energy away from actual science. At times, it feels as though scientists are no longer expecting extra help; we simply hope the system will stop creating additional obstacles that make research unnecessarily difficult.”Related articlesStrategic thinking: Germany funds joint research with Poland and FrancePoland to transfer €30M of regional funds to boost Horizon Europe participationPoland is funding fewer basic research grants as high inflation hitsIn short, “academics are expected to teach, publish papers, apply for grants and conduct high-quality research, while funding and salaries remain very limited,” said Uryga-Bugajska, who returned to her home country after 13 years in the UK.According to Marzec, another issue is the way that research institutions are evaluated. Previously, this took place every four years, with a clear differentiation between stronger and weaker institutions. “The current government, perhaps to avoid political backlash, effectively concluded that everyone is doing well, so in practice no meaningful evaluation took place,” she said.But in her view, “some form of serious assessment is necessary” to ensure the excellence and international competitiveness of Polish institutions, and to determine how to best use public resources and where institutional structures need reform. “Some institutions may need to rethink hiring practices in order to attract ambitious young researchers who are capable of obtaining competitive grants and building internationally visible research groups.” Rutkowska has already had to adapt. “When hiring PhD students, I often have to combine different funding sources creatively to make positions attractive enough for talented people to stay in science,” she said. “Many young researchers do not see a stable future in academia in Poland, and that is deeply worrying.”
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Bond breakout? Big effects of bad data. Immigration and thermostatic politics & dad-chat is coming for dad-books.
Thank you for opening your Chartbook email. Anna Airy, A Shell Forge at a National Projectile Factory, Hackney Marshes, London, 1918 Bond breakout - John Authers Across the developed markets, bond markets are staging a slow-motion car wreck. Looking at the drastic moves in the US, Japan, the UK and France, Barclays’ Ajay Rajadhyaksha commented: “Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”” Each country has its own contributing political problems, but the uniformity of the shift out of long-term bonds with high duration makes clear that something broader is afoot. For Rajadhyaksha, it is “simple and uncomfortable.” The developed world “has too much debt, too little fiscal discipline, and no political appetite for fixing either.” If there’s a trigger, it has been the Iran war and the resulting shock to oil supply. Source: Bloomberg G7 countries are now borrowing at rates that were enjoyed by EM in the early 2020s For contributing subscribers only. Subscribe Trade between China and Russia has grown in recent years For contributing subscribers only. Subscribe Big effects of bad data A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%. … When the information becomes less reliable, investment decisions get more difficult to make. Some may be delayed, creating a potential drag on the economy. A new working paper by Nicholas Bloom of Stanford University, Erica Groshen, former head of the Bureau of Labour Statistics (BLS) now at Cornell University, and Duncan Hobbs and Michael Strain of the American Enterprise Institute, a think-tank, hazards an estimate. Preserving trust in “the integrity and quality of official statistics”, the authors claim, generates economic benefits of about $25 for every $1 spent on the BLS, the agency with an annual budget of $700m that is responsible for many of these data. To arrive at their conclusion the quartet analysed an ignoble episode in the BLS’s recent history. On August 1st 2025 Donald Trump sacked Erika McEntarfer, appointed as the agency’s commissioner by his predecessor, Joe Biden. The president alleged, without evidence, that the BLS’s steep downward revision to recent jobs numbers had been “RIGGED in order to make the Republicans, and ME, look bad”. In fact, it was the wanton dismissal that looked bad in the eyes of many observers. In the following seven days there was a 50% leap, relative to the week before, in the average value of the index of Economic Policy Uncertainty (EPU), which tracks the number of articles mentioning such uncertainty that are published daily in American newspapers. This was a discernible jump even when compared to the chaos caused by Mr Trump’s trade war in April 2025 and his real one in Iran in the past two months (see chart 2). Based on Mr Bloom’s earlier study with other colleagues of the EPU’s impact on business investment, industrial production and employment, the authors estimate that the jump reduced American GDP by over $100bn (0.3%) and non-farm payrolls by 168,000 (0.1%). Source: The Economist Immigration and thermostatic politics (Sarah O’Connor in the FT) A strange thing happened a year and a half ago. No sooner had Americans elected Donald Trump as president on an explicitly anti-immigration platform than US public opinion began to swing much more favourably towards immigration. … to political scientists who study “thermostatic” politics, this development is no surprise at all. Public opinion often moves against the prevailing party, especially if they are perceived to have gone “too far” in one direction. The phenomenon was first explored in the 1990s with reference to fiscal policy, but in recent years it has been particularly evident in the realm of immigration policy. While these swings in opinion polls can make it seem as if people don’t know their own minds, they can be a useful democratic check on governments by sending bright flashing warning lights when policies stray too far from the public’s comfort zone. The problem comes when politicians misinterpret those signals. When people tell pollsters they want less immigration, or think it is bad for the country overall (or the converse), they are often expressing an opinion about how things appear to be going in that moment relative to their preferences, rather than a deep shift in their underlying views. According to Alexander Kustov, a political scientist, most Americans’ views are quite stable and moderate: they support immigration that is controlled and in the national interest, and oppose flows that are disorderly or under-enforced. In the US, he argues the Trump administration over-interpreted dissatisfaction with high immigration under Joe Biden, and implemented policies that went too far for many voters. “People don’t necessarily change their idea about their ideal immigration policy, but they can react to what the government is currently doing,” he told me. “A lot of people are not happy with what the Trump administration are doing — right now we’re not talking about border enforcement, we’re talking about people not just getting harassed, but killed.” But similarly, he added, pro-immigration advocates would be making a mistake to interpret the recent, more favourable swing towards immigration as a deep-seated ideological shift in attitudes. The recent history of UK immigration policy offers another cautionary tale. After the 2016 Brexit referendum, public concern about immigration fell. This was partly because net migration statistics declined, but also because people felt a sense of catharsis and control, says Sunder Katwala, director of British Future, a think-tank. By 2019, the public ranked immigration as only the ninth biggest issue of concern, according to Ipsos polling. But when the Conservative government liberalised visa routes for students and care workers between 2019 and 2022, that helped net migration to surge. And so, too, did public concern. Today’s Labour government has implemented another sharply restrictive turn in immigration policy. As Kustov and researcher Caitlyn Yates argue, thermostatic public opinion should be a useful check on politicians. Instead it seems to have helped to magnify the pendulum swing in the UK. The government over-interprets and overreacts to a change in public opinion, which reacts in turn, prompting a sudden swing the other way. Source: Financial Times HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Anna Airy, Shop for Machining 15-Inch Shells: Singer Manufacturing Company, Clydebank, Glasgow, 1918 Racing for a vaccine … we have been here before! The deadly Ebola outbreak in two African countries driven by a virus species with no vaccine has triggered an urgent search for a potential jab, in a test of troubled global efforts to avert threats posed by emerging diseases. A World Health Organization advisory group is due to would meet on Tuesday to recommend candidate jabs to prioritise for clinical trials, the global health body said. It will assess data including an analysis by the Coalition for Epidemic Preparedness Innovations (Cepi), which was set up after failures in the international response to a previous Ebola crisis. The latest Ebola outbreak in Democratic Republic of Congo and Uganda has infected hundreds of people and killed more than 80, health authorities say. Cepi’s reaction will be a crucial indicator of its progress towards its wider goal of producing vaccines for pandemic threats in just 100 days, despite steep cuts to international health funding. “If there was ever a time that we could show the world why Cepi is needed and show the world why the 100-day mission is needed, it’s now,” Nicole Lurie, the organisation’s executive director for preparedness and response, told the FT. “We’re happy to accept that responsibility, but obviously we need help from partners — particularly financial help in the long run.” DR Congo and Uganda would make the final decision on whether to press ahead with any vaccine candidates endorsed for clinical trials by the WHO experts, the global health body said. “Other ethical and community acceptability issues will be considered,” said the WHO, which declared the latest outbreak a public health emergency of international concern on Sunday. “This will be important to make sure that the trial, if it happens, will be adequately communicated to the population.” Lurie said Cepi had provided information from a survey of research teams and companies working on drugs that might be effective against the Bundibugyo virus behind the outbreak. The organisation hoped soon to announce partners in the quest for a jab, she added, although she declined to give a timescale for when one might be developed. Cepi’s Nicole Laurie said global health bodies were ‘getting some live-fire drills’ with hantavirus and the latest Ebola outbreak. The hunt for a vaccine should be helped by scientific advances including the use of artificial intelligence to find drugs active against viruses, Lurie said. Existing jabs against the Zaire Ebola virus responsible for many previous outbreaks might provide a basis for tackling the Bundibugyo species, she added. “We’ll see how far and how fast we can get,” Lurie said, adding that Cepi had done preliminary work recently on a possible jab for the rat-borne hantavirus responsible for a recent fatal outbreak on a cruise ship. “Both with hantavirus and now with Ebola, [we] are getting some live-fire drills.” Source: Michael Peel in the Financial Times Dad-chat is coming for dad-books. (By Pamela Paul and Jeffrey A. Trachtenberg in the WSJ) They were the go-to gifts for Father’s Day: a book about some little-known chapter of World War II, the sweeping narrative of a shipwreck, perhaps the latest presidential biography. These days, dad books are a dying breed. Nonfiction book sales have been in decline for the past four years, and are now the most challenged segment of the print book market. Publishers say certain types of books still fare well—including celebrity memoirs and religious titles. But in recent years, print sales in such categories as biography, current affairs and business and economics—what publishers refer to as “serious nonfiction” and which tend to resonate especially with men—have fallen considerably. Sales of nonfiction print titles were down nearly 8% through May 9 this year, and sales of books about politics and current affairs were down 19%, according to book tracker Circana BookScan. Publishing has long been subject to cyclical changes, with trends in format and genre taking over bookshelves in grand sweeps. (Remember the adult coloring-book craze? Or the stratospheric rise of romantasy?) But many in publishing believe the decline in serious nonfiction is more existential. “The trend couldn’t be clearer,” said Jonathan Karp, the former chief executive of Simon & Schuster and publisher of the new Simon Six imprint. “This is a sea change and people should wake up and realize we’re living in a new world.” One culprit for the shift: a new media diet for fans of more serious nonfiction. … Sixty-two percent of men and 54% of women consumed a podcast in the prior month, according to a recent survey by Edison Research at SSRS, up from 46% and 39%, respectively, in 2023. “When we have internal meetings to talk about this problem, it always comes around to podcasts,” said Jonathan Burnham, president and publisher of the Harper Group at HarperCollins Publishers. “The man who wants to read American history is now tuning into one of the many good podcasts about history that lends the quiet attention to a serious subject he’s looking for. It makes the idea of sitting down with a 700-page Ron Chernow book less appealing. You’ve scratched that itch.” Source: Wall Street Journal Remarkable report by Novara from the nationalist rally in London in mid May. Anna Airy, Leopard Moth and Plums, 1915 If you’ve scrolled this far, you know you want to click: Subscribe
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MaineStream Finance was founded in 2001 by Penquis.
FINN Partners and WifOR Institute Launch Global Initiative to Show Health Spending as an Economic Investment
For decades, ministries of health, finance leaders and policymakers have needed to defend health spending as a necessary cost to be managed. FINN Partners and WifOR Institute believe this framing is fundamentally outdated and increasingly harmful to public health in a world confronting aging populations, workforce shortages, rising chronic disease and widening health inequities.
Opinion | Court Cases About Money and Speech in Politics
Readers discuss court cases about campaign finance. Also: Computer science and the humanities.
Bipartisan push to crackdown on fraudulent campaign donations
Rep. Bryan Steil says his Campaign Finance Transparency Act updates the law for the digital age.
SpaceX IPO filing gives first look at Musk rocket company finances
SpaceX's S-1 paperwork, which pulls back the curtain on the rocket company's finances, is a required step ahead of its hotly anticipated IPO.
Everything to know about Nvidia's autonomous driving business
Nvidia (NVDA) reports first quarter earnings on Wednesday after the closing bell. Yahoo Finance Senior Autos Reporter Pras Subramanian explains everything investors need to know about Nvidia's autonomous driving business.
Google Launches $100 Monthly AI Ultra Plan
New subscription targets developers and creators using Gemini
OneStream Unifies Financial and Operational Planning to Help CFOs Run the Business in Real Time
/PRNewswire/ -- OneStream, the AI operating system for modern Finance that unifies core financial and operational processes, embedding the governance, context,...
Business students navigate market ‘roller coaster’ to secure positive returns - News
Students in Money and Banking and Global Trade and Finance classes at the Lundy-Fetterman School of Business recently wrapped up… More on this post