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5 Businesses I Wouldn’t Start in 2027 — and 5 Models I’d Look at Instead
These are the businesses I would think twice about starting, plus alternatives that offer better leverage, scalability and income potential.
Jensen Huang's Nvidia fiasco sparks wave of Buffett, Munger quotes
Jensen Huang's stunning exit as Nvidia CEO spurred X users to post Charlie Munger's famous warning about "ladies, liquor, and leverage."
Spain's Sánchez faces political test as deadly train crash casts shadow over election campaign
MADRID (AP) — Spain's Prime Minister Pedro Sánchez hoped to leverage widespread discontent over unaffordable housing when he called snap elections in October. Then a high-speed train rammed into another, killing 69 people and casting a pall over the nation.
Spain’s Sánchez faces political test as deadly train crash casts shadow over election campaign
MADRID (AP) — Spain’s Prime Minister Pedro Sánchez hoped to leverage widespread discontent over unaffordable housing when he called snap elections in October. Then a high-speed train rammed i…
Spain's Sánchez faces political test as train crash casts shadow over election
Spain's Prime Minister Pedro Sánchez had hoped to leverage widespread discontent over unaffordable housing when he called snap elections
Spain's Sánchez faces political test as deadly train crash casts shadow over election campaign
Spain's Prime Minister Pedro Sánchez had hoped to leverage widespread discontent over unaffordable housing when he called snap elections.
Profit Return Could Alter The Investment Case For AMC Entertainment Holdings (AMC)?
AMC Entertainment Holdings reported third quarter 2026 revenue of US$1,711.1 million and net income of US$109.3 million, compared with revenue of US$1,300.2 million and a net loss of US$298.2 million in the same period a year earlier. Across the first nine months of 2026, AMC Entertainment Holdings recorded revenue of US$4,353.2 million and reduced its net loss to US$19.2 million, reflecting the impact of cost control and operating leverage in the income statement. The focus now turns to how...
Agentic AI Transforms Banking: Scaling Struggles
Financial services leverage Agentic Artificial Intelligence in Banking. Only 5% of institutions scale AI agent ecosystems beyond pilot phases. Ambition meets execution challenges.
Potential impacts Democratic health care proposals on employer-sponsored health care
Summary: Democratic state and federal wins in the midterm elections could lead to Medicaid expansion in some states, and focuses attention on the House Democrats’ memo on health care priorities in the new Congress. Few of these proposals are likely to become law before 2029, but they could form the foundation for Democratic health care reform efforts after the 2028 Presidential election. Portion of total newly eligible for Medicaid if non-expansion states expanded Source: Cervantes, S et al How Many Uninsured Are in the Coverage Gap and How Many Could be Eligible if All States Adopted the Medicaid Expansion? KFF, July 27, 2026 It’s been almost a week since the midterm elections, and the Democrats will have large majorities in both the House of Representatives and the Senate, although not large enough to overcome Senate filibusters or Presidential vetoes. I reviewed some of what I thought these midterm results could mean in a post last week. In retrospect, I might have understated the elections’ impact on health care due to changes in governorship and majorities in many state legislatures. A Democratic trifecta (governorship and both houses) could mean expansion of Medicaid in Wisconsin, and a Democratic governor and House in Texas and Georgia could increase pressure in both states to expand Medicaid. That’s especially important, because Texas currently represents almost half of those who would be newly eligible for insurance from Medicaid expansions. Medicaid expansions matter to employers because they have been shown to decrease the risk of closure of rural hospitals and support workers’ ability to stay employed and productive. The House Democrats’ Cost of Living Healthcare Working Group published an 84-page memo in September with recommendations for the first hundred hours, the first hundred days, and the first year. The midterm results make this document more important. Here’s a review of what some of these recommendations could mean for employer-sponsored health insurance. Elements that could lower employer health care spending Restore the expanded advance premium tax credit for ACA plans. This could bring healthier enrollees back to the marketplace plans, which would improve the risk status of these plans and decrease the rate of uninsurance. Fewer people with insurance puts higher pressures on provider rates of employer plans. More stable ACA plans could encourage employers to consider transitioning from employer-sponsored plans to ICHRA/Choice, providing a fund for employers to purchase their own insurance on an exchange. Repeal Medicaid work requirements and other administrative rules of the One Big Beautiful Bill Act which as written will lead to a large increase in the uninsured rate. Fewer people with insurance leads to more pressures from hospitals for commercial rate increases. Extend Inflation Reduction Act negotiated drug prices to commercial health plans. These are now only applicable to Medicare Parts D (outpatient drugs) and B (drugs administered by providers. The Medicare negotiated prices are lower than net prices negotiated by PBMs. Hospital price limits. Some of the Democratic House proposals would institute site neutral payment and limit outlier hospital prices to 200% of Medicare. The average commercial health plan pays about 247% Medicare rates for inpatient hospital care, and many commercial health plans currently pay over 300% of Medicare for hospital services. PBM regulations. The proposals would mandate more transparency and prevent PBMs from paying subsidiaries more than market rates. Antitrust enforcement. The plan would break up vertically integrated health care monopolies which could lower prices through competition. Ban on non-compete contractual clauses could increase competition by increasing flexibility and supply of clinicians, although it could also increase physician leverage and lead to higher wages which could raise prices. Lower the Medicare eligibility age, which could take older, more expensive, workers off employer sponsored plans. Create a Medi-Kids plan to insure all children and potentially young adults up to age 26. These plan members have low non-preventive utilization and cost less per person than older plan members, but removing children from employer plans would decrease volatility because a few children have very high medical costs. Elements that could increase employer spending (in many instances for high value services) Mandate three primary care and three mental health visits without cost sharing Eliminate cost sharing for mental health care and substance use care during pregnancy and in the year after delivery Require coverage of infertility services Cap cost sharing for insulin, epipen and respiratory inhalers Count copay coupons and assistance toward member deductibles and cost sharing Cap total health care costs (premium and out-of-pocket costs) at 8% of household income Leave a comment Elements that could improve the market Increased price transparency Tightening enforcement of short-term plans, fixed indemnity plans, and cost-sharing ministries. These skimpy health plans skim off healthier people, leaving sicker people on marketplace exchanges and employer-sponsored health plans. Here’s a past post on the perils of cheap insurance. Most of these proposals are likely not to become law in the next two years, but could form the foundation of a Democratic proposal for health care reform in 2029 and beyond. The document does not provide cost estimates for these proposals. Share Thanks for reading! If you found this useful, please share, subscribe, like, and restack. You can find previous posts at this link. Views expressed in Employer Coverage are purely my own. Thanks for reading Employer Coverage ! Subscribe for free to receive new posts and support my work. Subscribe
Securing AI agents isn't science fiction. It's good engineering
AI is evolving at a rapid pace, and the uptake of Generative AI (GenAI) is revolutionising the way humans interact and leverage this technology. GenAI is
Healthcare, tariffs – but not Trump impeachment: Democrats chart next two years of power
Midterms success gives party potent leverage over Trump – expect tough campaigns of investigating and lawmaking
Healthcare, tariffs – but not Trump impeachment: Democrats chart next two years of power
Midterms success gives party potent leverage over Trump – expect tough campaigns of investigating and lawmaking
Michigan State Leads Michigan After First Half, 6-0
Heavy underdogs defy the odds in a defensive stalemate as the Spartans leverage aggressive playcalling and a relentless pass rush to stifle the Wolverines' high-powered offense.
Inspired Entertainment Inc (INSE) (Q3 2026) Earnings Call Highlights: Margin Expansion and ...
Inspired Entertainment Inc (INSE) posted a 46% EBITDA margin and 2.8x leverage in Q3 2026, while flagging a Brazil shutdown and UK duty hike as it prioritizes share repurchases.
How Democrats’ midterm wins reshape Farm Bill politics
Democrats’ sweeping gains in this week’s congressional midterms, driven in part by voter frustration in farm states, give the party new leverage in Farm Bill negotiations, according to farmers and farm advocates.
5 healthcare fights Democrats could take on after midterms sweep
Democrats now have leverage to try to restore the expired Obamacare tax credits, reverse Medicaid cuts and push for changes they say would make healthcare more affordable.
Earth Science Tech (ETST) Wins Through the Inherent Operating Leverage of Its ‘Conglomerate’ Business Model
Austin, Texas, November 4th, 2026, FinanceWireEarth Science Tech (OTCQB: ETST) is a strategic holding company that brings together innovative businesses across the healthcare, pharmacy, technology and telemedicine, real estate, and consumer products spaces. Its primary operating strategy is to cont…
Hyatt Announces Redesign of Hyatt Leverage Business Travel Platform
Hyatt Hotels Corporation announced it has redesigned its Hyatt Leverage business travel program, along with enhancements to the booking and administration
Starz Entertainment Corp (STRZ) Q3 2026 Earnings Call Highlights: Strongest Quarter of the Year ...
Starz Entertainment Corp (STRZ) posted $322 million in Q3 2026 revenue with $44 million in adjusted OIBDA, reaffirming full-year growth targets and a clear path to lower leverage.
A golden age of science is coming
It’s almost hard to remember, but just a few years ago, a lot of very smart people thought that science was in terminal decline. Respected researchers were writing papers with titles like “Are Ideas Getting Harder to Find?”, “Papers and patents are becoming less disruptive over time”, and “Slowed canonical progress in large fields of science”. In 1996, science writer John Horgan even published a book called The End Of Science: Facing The Limits Of Knowledge In The Twilight Of The Scientific Age. The fundamental idea was that the Universe only has so many insights to discover, and that we’ve picked the low-hanging fruit. It was the idea that Joseph-Louis Lagrange expressed when he said that “we cannot find more than once a system of the world to establish.” As the big ideas and the simple ideas get mined out, we’re forced to throw ever more brains at the mysteries of nature just to keep scientific progress going at a fraction of its old pace: It looked like science was hitting a wall. Then along came AI. It’s far too early to tell how much AI will eventually speed up the growth of total factor productivity. But already we can see signs of a speedup in science. Anthropic Founder Jack Clark assembled some of the hopeful data points in a recent lecture: [ Dror Poleg@drorpoleg "If you pick different parts of science, you see the same pattern show up: Progress is accelerating, and it has started to accelerate in the last two years." Jack Clark @jackclarkSF I’m speaking at the IMF in an hour about the singularity and why I believe it has begun and the choices we'll need to make. Watch live here: https://t.co/Hj9HzcXx5h 6:08 PM · Oct 18, 2026 · 21.2K Views 2 Replies · 10 Reposts · 123 Likes ](https://x.com/drorpoleg/status/2111882070376980529) Anthropic is accelerating its investment into drug discovery, and is already announcing some impressive preliminary results: [ BioTender@Junioryu136689 BREAKING: Anthropic unveils early results from six Claude-powered drug development collaborations. • 70% shorter CAR-T signaling domain • ~35,000 antibody designs • >10× tighter antibody binding • 89% less batch-record review time Still largely preclinical. Anthropic @AnthropicAI Over the past few months, Anthropic scientists have engaged in deep research partnerships with six organizations developing new medicines. We've also begun drug discovery efforts of our own. In doing so, we’ve learned much more about how Claude can support the many stages of 9:43 PM · Oct 27, 2026 · 11.2K Views 3 Replies · 24 Reposts · 205 Likes ](https://x.com/Junioryu136689/status/2115197821150495150) Claude also appears to be enabling rapid progress toward a treatment for food allergies. OpenAI, meanwhile, announced a possible breakthrough treatment for neurodegenerative disease. Meanwhile, Google Cloud Chief Scientist Pushmeet Kohli has a list of recent scientific advances that have been enabled by its new Gemini model, including breakthroughs in nuclear fusion reactor design, rare disease research, and quantum computing: [ Pushmeet Kohli@pushmeet Gemini 4 Argon is a step change in model performance. In recent weeks, it has had a transformative impact on the Science projects in our team at @GoogleDeepMind and our external collaborators, and helped make a number of remarkable advances across scientific disciplines. 🧵👇 4:47 PM · Oct 13, 2026 · 36.5K Views 8 Replies · 41 Reposts · 497 Likes ](https://x.com/pushmeet/status/2110049807385702623) But as cool as these stories sound, they’re just very minor, preliminary efforts. There are a number of reasons to think that AI is going to propel us into a golden age of scientific discovery. That age might not last forever — AI might still run into diminishing returns eventually. But the next few decades are probably going to be an absolutely amazing time for human science. The number of “effective researchers” is no longer limited The most important input into science is scientists themselves. Until this year, that meant human brains — talented, highly trained human brains. The number of trained human brains could be increased by sending more people to grad school, but only to a point — the smartest people tend to be sent into the hardest research fields first, and if you 10x the number of researchers, the average quality will go down. This constraint was already starting to bite, as Ekerdt and Wu argued in 2024: We argue that a substantial portion of the downward historical trend in U.S. research productivity is a composition effect resulting from self-selection in researcher ability and the dramatic expansion of the research sector…[W]e find that this composition effect has lowered average researcher ability by between 37% and 53%[.] And of course, low fertility was making the problem worse, because fewer children meant fewer people who were able to become future scientists. AI just blows up this constraint completely. If an AI agent can function as an autonomous researcher, there’s no constraint on the number of researchers in the world — you can just build more of them, by building more computer chips and data centers that enable the running of more AI agents. Whether or not massive hordes of agents can collaborate to solve individual problems much faster, increasing the number of agents allows them to tackle many different research questions in parallel. What’s more, these AI “researchers” can be trained incredibly quickly compared to human beings. A human scientist takes decades to train, and more years to reach the frontier of their research field by diligent reading and conversation. This is the “burden of knowledge”, and it’s commonly believed to be one reason ideas have been getting harder to find — by the time human scientists can get up to speed, they’re often so old that their ideas are no longer novel. AI just annihilates this constraint — it can assimilate the entire literature and reach the frontier of research extremely quickly, and it can also tell human scientists where the frontier lies without forcing them to discover that for themselves. It can also pivot to new research directions more easily than humans can. And there’s also a self-reinforcing economic cycle here. Because scientific advances enable higher GDP, they enable more resources to be invested into the creation of yet more electronic “scientists”. Now that doesn’t mean the amount of scientific research goes to infinity — there may still be some essential bottleneck task that human researchers are still needed to perform. There are some indications that AI’s progress on open-ended conceptual research tasks is slower than in other dimensions, and it may be that humans are still needed to provide some of this long-term conceptual thinking. I’d bet against this being true for much longer, but it might be true for a long time. Even in this most “pessimistic” case, though, the amount of effective capital that scientists can use to leverage their work just went up by a lot. AI eliminates the theory bottleneck Science proceeds by an iterative process of theory and experiment. The theory part of that cycle is typically short, but non-trivial — it took a couple of years after the blackbody radiation spectrum was observed for Max Planck to come up with the quantum hypothesis to explain it, and decades longer before quantum theory as we now know it was created. It took about a year for Watson and Crick to figure out the shape of DNA after the requisite data was gathered. AI will basically eliminate the theory bottleneck entirely — or at least shorten the turnaround time between experiment and theory by an order of magnitude. AI is an absolute beast at math. Recently, an OpenAI model solved some of the most important open problems in computer science, math, and theoretical physics, and no one even batted an eyebrow because that sort of triumph is becoming increasingly commonplace. One of those solutions was a proof that the Standard Model of Particle Physics could be mathematically well-defined — a problem that human theorists had so far been unable to tackle. Not all research relies equally on theory, but understanding novel experimental results almost always involves some important component of either mathematical or spatial reasoning. That part of the task has now been made much, much faster. And on top of that, science is now open to a greater number of humans who aren’t naturally good at theorizing. AI can read the whole literature Much of the work of human scientists involves reading and understanding endless amounts of papers and going to endless conferences and seminars. The purpose of that work is to understand the existing scientific literature. Understanding the literature allows scientists to do the following things: Come up with new ideas for hypotheses to test Avoid doing research that someone else has already done Synthesize approaches from different areas or fields AI can reduce this effort to almost zero. Consider this excerpt from OpenAI’s blog post about their new research into neurodegenerative disease: The team divided the analysis among thousands of AI agents powered by GPT‑Rosalind, an approach we call distributed biological reasoning. The agents examined a whole-brain CRISPR atlas…a dataset showing how gene disruptions affect different types of cells across the mouse brain. Each agent investigated a gene disruption, analyzed cellular responses, searched scientific literature, and proposed explanations for the results. Their reports were combined into a reasoning atlas linking genes, cellular effects, relevant publications, and possible biological mechanisms. The research team estimated that comparable human analysis and literature review, conducted one perturbation at a time, would take months to a year. The agents reproduced findings from human analyses while uncovering additional leads. Their assessments of novelty and scientific value also aligned with judgments from blinded human experts. These findings help prioritize further experiments needed to test the proposed biological mechanisms. Some of these insights point to new leads for understanding brain disease. [emphasis mine] This is one case in which parallel work by a large number of agents really does make a huge difference: [ Haider.@haider1 this is actually insane openai deployed thousands of GPT-Rosalind agents to analyze millions of mouse brain cells in 32 minutes, work that could take human researchers months to a year also the agents uncovered new leads for brain diseases like Alzheimer's and Parkinson's OpenAI @OpenAI GPT-Rosalind surfaced a new lead for drug discovery: could restoring cholesterol transport protect neurons from degeneration? DCTN1 is a gene linked to Perry syndrome, a rare neurodegenerative disorder. In mouse-brain data, disrupting it increased expression of genes involved in 2:41 PM · Oct 21, 2026 · 51.5K Views 26 Replies · 95 Reposts · 1.26K Likes ](https://x.com/haider1/status/2112917197903540516) Not only does instantaneous literature review vastly speed up the research process, but it allows AI to make novel conceptual leaps from combining approaches from wildly different fields of research. AI regularly does this in math research, combining results, approaches, and theorems from far-flung places that no human mathematician would have thought to combine. It can do it in science, too. Much of scientific innovation, historically, has been “recombinant” innovation — scientists applying insights from one field to another. With AI, essentially all research is now cross-disciplinary — AI can read not just the literature on a particular subject, but the literature on a million other subjects that might have produced useful techniques or insights for the problem at hand. Superscience So far, all of the factors I’ve listed are ways that AI can speed up science as it’s already done. I’ve basically described how AI can send gigantic hordes of superhumanly fast, superhumanly well-read, superhumanly mathematically gifted researchers to re-accelerate scientific discovery. But it’s also possible that AI will enable types of discovery — and ways of understanding the natural world — that no network of humans, no matter how large or how brilliant it was or how long it had to work, would ever be able to discover. In a post back in July, I wrote about how that might work: What if there are lots of…aspects of the Universe that [are] too complex to understand in terms of simple laws, but not so complex that they just dissolve into unknowable chaos? It’s possible that we can reliably control these complex phenomena with AI, even if we never reduce them to the kind of principles that we can teach a grad student in a textbook… Another way of saying this is that there may be laws of the universe that humans can’t understand but AI can. I call these “cloud laws” — causal regularities that can be exploited by technology, but which are too diffuse and complex for an individual human being to either intuit or communicate… Perhaps social sciences like economics, sociology, and political science obey similarly complex regularities, and AI can help us find them. Perhaps there are physical processes — plasma, or topological materials, or aerial turbulence, etc. — that obey cloud laws instead of chaos?… [H]uman collaboration is bottlenecked — it’s limited by our ability to intuit patterns at an individual level, and to communicate these patterns from one individual to another. AI, being a computer, just doesn’t have this sort of limitation; it can work with vast, diffuse patterns without having to break them into pieces or simplify them in order to compress them into the tiny pipelines of person-to-person explanation… If much of the Universe turns out to be ruled by cloud laws, we could be on the precipice of a scientific renaissance. In order to discover cloud laws, AI will need huge amounts of data about the natural world. AI figured out human speech by assimilating essentially all of the text humans have ever written. If it’s going to figure out hidden patterns in biology, neuroscience, materials science, etc., it’s going to need similarly massive amounts of data from physical instruments. That data will be far, far more than humans — individually or collectively — would be able to parse, label, characterize, or model. But AI was built to do this. If scientists simply build huge arrays of sensors to measure complex phenomena like the brain, the cell, the economy, etc., they may be able to feed this flood of data to AI directly and bypass human cognitive intermediation entirely. AI would then learn about the world directly, and it might learn things that humans never could. This “superscience”, if you want to call it that, would actually go beyond the kind of science humans have done heretofore. Many of the technologies it yielded would be beyond human comprehension — indistinguishable from magic. But to the AIs, they would make perfect scientific sense. In any case, it seems clear that the scientific slowdown that threatened human progress will now be delayed — at least for a while. Unless humans have somehow found most of the actual exploitable regularities in our Universe, we’re about to enter a new golden age of science. Subscribe Share
Clarke Could Give Giants Reliable Middle Innings Relief
Boasting elite control, Taylor Clarke offers a cost-effective solution to bridge the gap to the San Francisco Giants’ high-leverage arms while stabilizing a weary bullpen.
Cubs Have Easy Decision To Make About Jacob Webb
Coming off another dominant season as a reliable high-leverage arm, the veteran right-hander’s affordable $2.5 million club option makes retaining him a clear-cut choice for Chicago's bullpen.
Abbott Laboratories vs. UnitedHealth: Does Health Innovation or Health Insurance Make for a Better Stock to Buy?
Abbott's $7.4B free cash flow and 0.3x debt load contrast sharply with UnitedHealth's $16.1B free cash flow but higher leverage and government policy risk.
Dodgers Face Difficult Decision With Vesia
Alex Vesia has been a dependable high-leverage reliever for the Los Angeles Dodgers, but his sustained success could make him more difficult to retain as he enters free agency.
Three Free Agent Relievers Who Could Fix Tigers’ Bullpen
The free agent relievers class is both strong and deep this off-season. That's great news for a Detroit Tigers team that struggled in high-leverage situations late in games, blowing 68 leads en route to a disappointing fourth-place finish in the American League Central. Those 68 blown leads are both a franchise and Major League Baseball …
Opinion | US-China AI talks must ensure safety of both tech and business
A hotline and an ad hoc dialogue are not enough. Safety concerns are growing for both the technology and leveraged tech companies.
AI 101: Business Uses for Frontier Technology
To help Alaska businesses leverage AI’s potential, local experts explain, in simple terms, how companies can use the newest technology.
Deutsche Telekom Leverages AudioCodes VoiceAI Connect to Bring AI-Powered Services to Mobile Business Customers
/PRNewswire/ -- Highlights Deutsche Telekom is leveraging AudioCodes VoiceAI Connect for Voice AI Notes Mobile, its new service that automatically summarizes...
‘Hot economics, cold politics’: why China gave nod for expanded Japanese trade trip
Allowing more executives to visit Beijing shows that China aims to use economic leverage to pressure Tokyo, experts say.
Health Care and Crude Led the Week While Tech Lost Its Grip
American News Group News Commentary - The State Street SPDR S&P 500 ETF Trust slipped 0.28% and the Invesco QQQ Trust fell 2.62% over the five trading sessions ended Thursday, October 15, according to Stock Analysis data, as a hotter-than-expected inflation report revived concerns about interest rates and technology stocks sold off. Among U.S.-listed exchange-traded funds with at least $1 billion in assets, excluding leveraged and inverse products, the week's leaders came from health care, crude
Thunder Must Stop Building One Permanent Bench
Mark Daigneault must leverage his roster's versatile depth as a tactical toolkit, deploying specialized lineups to exploit specific matchups rather than relying on a rigid secondary rotation.
Kevin Hart's Hartbeat Inks Deal With Fox Entertainment For Vertical Content, Microdramas
Fox Entertainment and Hartbeat announced a multi-faceted partnership that leverages new, original vertical series as a development pipeline for film and television content. The partnership pairs Codeblack’s record of building film and television businesses for underserved audiences with Fox Entertainment’s studio operations, worldwide sales organization and growing vertical video ecosystem. It also extends vertical storytelling … Continue reading "Kevin Hart’s Hartbeat Inks Deal With Fox Entertainment For Vertical Content, Microdramas"
Despite tough talk from Abbott and Paxton, Texas penalties for data center violations are light
Texas officials are promising tougher enforcement on data centers, but the existing law may offer limited leverage over the industry that has largely failed to report its water use.
Daldrop Opens for Business in Southern Oswego County
$10 Million Facility in the L. Michael Treadwell Oswego County Industrial Park marks the largest expansion outside of Germany in the company’s 73-year history By Stefan Yablonski [caption id=attachment_11076 align=alignright width=450] Daldrop SBB CEO Jens Daldrop addresses attendees at the 2025 groundbreaking for the project. Daldrop also chairs the advisory board of Germany-based Daldrop Group.[/caption] A new era of cleanroom technology is underway in Central New York. The Daldrop Group’s advanced manufacturing facility and U.S. headquarters is physically built within the L. Michael Treadwell Oswego County Industrial Park. This industrial park is located in the town of Schroeppel. It marks the largest expansion outside of Germany in the company’s 73-year history. Daldrop SBB is based in Neckartailfingen, Germany. It is a global supplier of cleanroom technology, primarily to the pharmaceutical industry. It designs and builds advanced cleanroom environments for the pharmaceutical, biotechnology and medical technology industries. It nvested $10 million in the new project. “We broke ground in 2025; we were under construction all winter. We just opened this spring, early spring,” said Benjamin Morrow, operations manager and control. The company consolidated sites in Salina and DeWitt into the industrial park in Schroeppel, Morrow added. “The next move here is to maximize every square inch of this facility and then we are already looking at the expansion. So, it is more capital investment on equipment — definitely higher-end automation in additional equipment so we can produce more components and then to support the ever-growing base in North America,” Morrow continued. “We are the headquarters for service, maintenance and spare parts. So as Daldrop has more and more installations, they need more and more service, maintenance and spare parts. So that will come out of this facility as well — it already is.” “As a global leader in GMP (global manufacturing support) pharmaceutical cleanrooms for decades, I am very proud to bring manufacturing jobs to Upstate New York,” said Mike Sullivan, president of Daldrop US operations. Key to choosing Southern Oswego County [caption id=attachment_11077 align=alignright width=450] Daldrop SBB at the L. Michael Treadwell Oswego County Industrial Park when the company announced the start of construction.[/caption] Sullivan said that the selection of the Schroeppel industrial park was mainly due to the help of Operation Oswego County and two people in the organization. “Prior to being purchased by Daldrop International from the Stuttgart region of Germany, Vince Bongio was a founding partner in SBB Inc. as well as our head of engineering. We based out of Syracuse due to Vince’s skills in HVAC and the manufacturing capabilities found in Syracuse,” said Sullivan. Bongio moved to Syracuse from California in the 1970s to work in Carrier’s Industrial Division of Large-Scale Petrochemical Refrigeration. Next, he advanced to General Electric’s TV Tube Plant where he got into cleanrooms ,leading to his role of head of engineering for Clestra Cleanrooms where he met Sullivan, their New England distributor. “Vince Bongio is a phenomenal engineer. Formerly of Carrier, he grew up in California and went to Cal Poly,” Sullivan explained. “Carrier hired him right out of college and he moved to Syracuse. He is the reason we are in Syracuse today. He is retiring this year. We are very proud and his legacy is having brought Daldrop to Syracuse.” In 2000, Sullivan, Bazinet, Bongio Inc (SBB) was formed with engineering and manufacturing, based in Syracuse, and sales and construction based in Massachusetts as it is today. “SBB Inc. started in Syracuse. I had a design–build contracting firm out of Massachusetts that was primarily doing all the new technologies coming out of MIT,” Sullivan said. “I started a manufacturing side. A big thing for cleanrooms is the HVAC. Most cleanroom suppliers are architecturally focused people. The strength in Syracuse is HVAC. So, SBB developed with me running sales and construction out of Massachusetts and manufacturing out of Syracuse.” “Daldrop wanted to have a relationship in the States and of those who approached us, they were the only ones who really understood HVAC. So, we were the right fit for them. We did a joint venture focused out of Massachusetts from 2012 to 2018 leveraging their technologies,” Sullivan explained. “The commitment was if we brought their product to the States, we would do that if they built it here. “The pieces that had to be in place to make the investment, they wanted to acquire us, we were great with that. If you looked at business recommendations the general guidance was to build in a low labor area — something like North Carolina — but Syracuse had a strong background in HVAC and we chose Syracuse and Oswego County to be our headquarters in the States. So, it is built off of history, technology and the existing supply chain — bringing jobs back to the area.” During the initial discussions with Daldrop about coming to the U.S., SBB agreed to sell under the conditions Daldrop would manufacture in the U.S. There are many areas that offer incentives and economic packages, but the strength of HVAC expertise and skilled manufacturing was a big part of the discussions for site selection. Coming home [caption id=attachment_11078 align=alignright width=451] Construction moves forward in March at the L. Michael Treadwell Oswego County Industrial Park.[/caption] The second key person to building in Oswego County is Ben Morrow, Sullivan added. “Ben has been working with Daldrop SBB for more than 12 years and has advanced to COO of manufacturing and engineering. Ben grew up in Phoenix, so building a factory for the Germany company in Phoenix is a strong success for both his community and the appreciation of Ben’s skills as a team leader,” Sullivan said. “I went to high school in Phoenix. So, this is like full circle for me. It’s a small world,” Morrow said. “I hadn’t been back to Phoenix since graduation. This is one of the properties that John Trimble of C&S, he is the former president of C&S, he just retired, suggested. He and I were very good personal friends. John was from Mexico and I was from Phoenix. We knew each other from high school. And the architect of this building, Ed Smart of smartDESIGN Architecture in Batavia — I went to high school with him. So, this was a project that’s full circle a coming home kind of thing. The three of us knew each other — kind of like it was meant to be. Very serendipitous.” Schroeppel was one option for Daldrop to consider; the original intent was just to get a warehouse to store some product, he added. The facility is Daldrop’s largest outside of their native country. Total payroll at the facility will be approximately $2.4 million once fully staffed. “Here is 32,000 square feet and we plan to expand and put in an additional 10,000 square feet,” Morrow said. “We have 17.5 acres. We can put at least three more facilities here, just on this property. The master plan submitted for the current building is the first of possible three buildings on the campus.” “If we can find the right people and advance the production according to the plan, we should be able to grow for the next decade. One of the first jobs we filled was our new HR manager, with a primary focus posting and filling new positions,” Sullivan said. Stop the exodus, start hiring [caption id=attachment_11080 align=alignright width=452] Principals at the local Daldrop SBB headquarters, from left: Ben Morrow, Mike Sullivan and Jens Daldrop.[/caption] “I have been coming to Syracuse for 30 years. One of the things I had a hard time watching was the exodus of factories. One of the toughest things is to watch it with my partners’ kids who had to move away for jobs. It is important for us to give opportunity where people’s kids don’t have to leave the area to get work,” Sullivan said. “My responsibility is to find people who have skill sets that want to work and then I have to build opportunity for that work to happen. “After years of watching companies and Vince’s three sons all move out of the areas to get jobs, it is important to us to provide opportunities for the Syracuse region and help grow our company. We have been hiring for our new factory and will continue for the next few years.” “We are hiring and will continue to hire. Currently we have about 19 on staff right now,” Morrow said. “We expect to grow that by about 10 to 15 in the next 12 to 18 months or so. We are at 19 currently — one in the wings. It’s been great being able to hire locally. All these folks that we’ve been hiring, they all live within a few miles from here.” “We hired someone this past week (end of August). She grew up in the area, raised a family and is working down in Florida. She just took a job with us so she can move back and be with her family. We will be moving her back and she should be starting in October. We are very happy to see this happen,” Sullivan said. “I feel strongly about having a spot for the kids to not have to move out of the area. It is better to have people moving into the area.” Currently, Daldrop SBB has openings for finance manager, COO of construction and delivery, as well as mechanical, electrical designers and Revit modelers, construction managers, commissioning agents and many other skills that are needed. Along with Daldrop’s reputation in life science cleanrooms, there is a strong history in semiconductor, electronics, glass, photonics, aerospace and other markets. This may be helpful with any new technologies building in the market such as the Micron expansion and the support network, Sullivan said. “We acquired this property and closed on it two months before any announcement from Micron. It is serendipitous that they’re right down the street from us,” Morrow added. “Everybody started thinking ‘you guys are supporting Micron.’ We were here first. That is not a goal of ours. We may or may not … they are talking to us; it is an opportunity.” The long run [caption id=attachment_11079 align=alignright width=450] Benjamin Morrow, operations manager and control at Daldlrop, speaks during a recent ribbon-cutting event in Schroeppel.[/caption] “Long term, we will expand the Phoenix facility,” Sullivan said. “We built our facility with a campus approach. Sustainability is big. We designed our rooms to be more sustainable. Our building has no gas lines for heat. We put geothermal wells in the ground. We put heat pumps in for heating and cooling out of those wells and we put a large layer of solar panels up on the roof. We worked with National Grid for metering. Our building is a high efficiency model. We upgraded all the instillation and the glass filtering. So, it is a very green building. We will have a very minimal carbon footprint. It also adheres to LEED (Leadership in Energy and Environmental Design) construction standards.” “We are a bunch of HVAC engineers. We did a large scale geothermal and spent the money up front because we knew it made sense in the business sense in the environmental sense and sustainability,” Morrow said. “We have insulated metal panels on walls and roof; we are an envelope from the exterior.” Daldrop, as a global player, has a strong culture of sustainability that is found in all its products including the new facility. The building has been designed with (sixteen) 400-foot deep geothermal wells, high efficiency construction methods, approximately 70 kilowatt solar photovoltaic panels, electric vehicle chargers and 26% recycled content. “Daldrop thinks of long-term investing,” Sullivan said. “On the roof, photovoltaic panels supplement our power. Over half the energy that I use is coming from the sun. We have chargers up front for employee electric vehicles. This place is built to last. This slab that we are walking on, normal buildings are four inches, some go to six inches, we are nine inches all the way through — except where the heavy equipment is — that is 10 to 12 inches thick, solid concrete. It allows us to reconfigure for whatever type of equipment we want to bring in,” Morrow said. “We are authorized by Underwriters Laboratory to self-certify so we don’t need to have an inspector come out and recertify. We get audited often, but we certify our own electronics. The control system in this building is rather high-end. Our thermostat in every room is zoned, independent. We analyze the data; incorporate it with our solar panels.” “There is a lot of competition for people to work. It’s not just about how much salary they are going to make — it’s about the work environment, the ability for stability. We want to make sure our employees have the best environment to work in,” Morrow added. Similarities “One of the reasons I believe why Daldrop chose this area, Phoenix in particular, is because it is a village, a river-based village. Neckartailfingen in Germany where Daldrop is based is also a river-based village, manufacturing community. So, there is a lot of similarities — that smalltown feel,” Morrow said. “We have a lot of connections through multiple employees that lead back to Carrier, also. Everything came together, the timing everything.” “We are thankful for all the economic development support. Everyone has been helping make this happen. So, keep it up, it is working, that is all I got to say, Sullivan said. “If you look at historical industrial manufacturing, this region has skills that have been un-utilized. The northern industrial region has a lot of skills that if we can tap before they go away, we can leverage them. That is what we are trying to do. You’d be surprised at the supply chain left behind from Carrier — that supply chain is still there.” “Operation Oswego County has been fantastic,” Morrow added. “I can’t say enough good things about that group.” What Is Cleanroom Technology Cleanroom technology is a system of specialized engineering, filtration and operational controls used to maintain an extremely low concentration of airborne particles, microbes and chemical vapors. How It Works • Air Filtration: Uses HEPA or ULPA filters to remove 99.97% of tiny particles down to 0.3 microns. • Airflow Control: Directs air in a steady, unidirectional (laminar) or filtered turbulent pattern to push dust away from work areas. • Environmental Regulation: Maintains precise control over temperature, humidity and positive air pressure to block outside air leaks. • Specialized Attire: Requires personnel to wear full-body garments (“bunny suits”), gloves and masks to stop human shedding
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How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.
Bishop’s computer science chair says AI is eliminating ‘grunt work’ and reshaping digital jobs
Dr. Russell Butler, chair of Bishop’s University’s Department of Computer Science, says artificial intelligence is increasingly taking over routine digital “grunt work,” changing the skills students and workers may need in the years ahead. Photo courtesy of Bishop’s University. Click here to read our platform! Get local news like this every morning. Subscribe free below. Subscribe Pulse Newsroom Artificial intelligence is already taking over some of the routine digital work once performed by entry-level employees, according to Bishop’s University Computer Science chair Dr. Russell Butler — a shift he believes will make expertise, judgement and the ability to evaluate AI-generated work increasingly important. Butler described the change as automation reaching what he calls the “bottom of the cognitive pyramid” during an interview with The Pulse about AI, university education and the future of digital work. His argument is not that humans are disappearing from the workplace. Instead, he sees their role changing as AI becomes capable of handling more of the repetitive tasks involved in computer-based work. “Everything’s converging on just AI basically doing all the grunt work,” Butler said. The bottom of the cognitive pyramid Butler is from Lennoxville, completed his undergraduate studies at Bishop’s and later earned his PhD at the Université de Sherbrooke. He joined Bishop’s in 2019 and now chairs its Department of Computer Science. He uses AI in research, teaching and other creative work, and said the technology is increasingly capable of handling routine digital tasks that once required substantial human time. “You’ve got the grunt work, like moving things around in Excel, doing basic programming tasks,” Butler said. “That’s like the bottom grunt work that the entry-level worker would have done two or three years ago.” Butler went further, saying in his view that much of this type of work has already been absorbed by AI tools. He connected that change to a shift he sees taking place in computer science, where entry-level roles have declined while experienced workers can use AI to increase what they can produce. “A senior developer now has access to essentially an unlimited amount of junior developers on demand,” Butler said. He was describing AI systems metaphorically, not literal employees. His point was that one experienced developer can now ask AI tools to produce code or other technical work that might previously have been assigned to more junior workers. That raises a broader question for universities and employers. If some of the simpler work traditionally given to newcomers can now be done by machines, how do people gain the experience needed to become senior workers themselves? Students doing work that once required years of programming Butler said he is already seeing the change inside his classroom. He created a Bishop’s course called CS208, Coding in Plain English, to show students — including those without traditional programming backgrounds — what they can accomplish using AI. Some come from disciplines such as psychology or neuroscience with no previous programming experience. “What I’m finding is that students who have zero programming experience, they come in from another discipline like psychology or neuroscience or something, they are now able to get up and running with real data sets,” Butler said. Butler’s own doctoral work involved neuroimaging, and he said he has assigned students work he considers comparable to the kinds of analysis he performed during his PhD. He described giving students a real dataset, an expected result and instructions to use AI to complete the analysis. Butler said those students have been able to carry out work at a level he associates with tasks he once performed after years of programming experience. That does not mean a student using AI instantly acquires the same knowledge as an experienced computer scientist. But Butler sees it as evidence that AI can dramatically lower the technical barrier between having a problem to solve and producing a working result. The role of the person using the system then changes. They need to know what to ask for, understand enough about the subject to judge the answer and take responsibility for what is ultimately produced. What about AI hallucinations? One persistent concern surrounding generative AI is hallucination — when a system produces information that sounds convincing but is false or unsupported. Butler said that problem has improved substantially in newer systems and is not as severe as it was with earlier models. He pointed in particular to newer AI systems’ ability to search the web, consult scientific databases and return source links rather than simply generating a citation from their internal model. Butler nevertheless said users should verify what AI produces. “You should verify,” he said while discussing citations generated with AI. His position is that hallucinations have become less common in the systems he uses, not that incorrect AI output is impossible. Human checking remains part of the process. Hours of work compressed Butler offered another example from his administrative work at Bishop’s. The university has been comparing CEGEP courses with first-year Bishop’s courses to determine where students may qualify for advanced standing. Traditionally, Butler said, that means reviewing two sets of course descriptions and manually matching one institution’s courses with another’s. As department chair, that could require hours of reading and comparison. He said AI can now be given both sets of material and asked to generate an initial mapping automatically. “It saves me hours and hours of work,” Butler said. Butler said the AI-generated mapping can also produce a better result than he would produce himself. He sees similar opportunities in businesses. A company may receive specifications, drawings, emails or other digital material from customers and then have employees convert that information into an internal format before anything can be manufactured or delivered. AI can increasingly perform parts of that intermediate processing. In Butler’s view, the employee does not necessarily disappear. Instead, the job becomes more about checking the result. “The human is still there,” he said. Judgement could become more valuable That change is central to Butler’s view of where digital work may be headed. If AI can produce a first draft, write basic code, compare documents or process large amounts of information, he argues that knowledge and judgement become increasingly important. “The real scarce resource going forward is going to be domain knowledge, expertise, and… credentials, authority, the ability to work with other people,” Butler said. He is therefore encouraging students not only to learn AI tools but also to broaden their education. He mentioned acting, fine art and photography as examples of courses that can help develop what he described as taste and intuition — the ability to recognize what is good, what is not and what should be changed. “And that’s the skill that they need now because the grunt work has been automated and now it’s about evaluating what the AI produces and telling it how to improve or expand the output,” Butler said. That does not remove the need for technical knowledge. Butler’s argument is that the emphasis may shift away from manually completing every step of a task and toward directing, checking and improving work produced with AI assistance. He also stressed that humans remain responsible for final decisions. “At the end of the day, the human has to make the final call,” Butler said, pointing to the question of accountability. Physical work may be different Butler draws a distinction between digital work and jobs requiring people to manipulate the physical world. He expects AI to continue advancing quickly in tasks performed almost entirely on computers. He is more cautious about claims that humanoid robots will soon be able to replace workers such as plumbers or electricians. Butler said those trades would not be replaced “anytime soon” in his view and described some current robotics demonstrations as overhyped. He described the situation as counterintuitive. “It’s almost like we solved the highest level first,” he said, contrasting advances in digital AI with the harder problem of building robots capable of operating reliably in the physical world. Butler’s argument is that some digital occupations could face automation sooner than trades requiring complex physical work. The wider AI shift in the Townships Butler’s comments come as local institutions are increasingly grappling with how AI should be used. The federal government recently announced up to $162 million over five years for 10,000 AI-related placements through Mitacs. The Université de Sherbrooke told The Pulse that the number of its collaborative research and innovation projects supported through Mitacs has approximately doubled since 2018-19, while the number of placements has approximately tripled. UdeS also said it already has projects involving both AI adoption and the application of AI to other fields. At Bishop’s, Butler said part of his role involves building the Computer Science department’s local presence, connecting students with regional partners and strengthening relationships with the Sherbrooke technology ecosystem. Those developments put universities in a difficult position. They have to prepare students to use the tools employers increasingly have available while also making sure graduates understand enough to recognize when those tools are wrong, incomplete or being applied to the wrong problem. The risk of losing human skills Butler does not see AI as risk-free. Later in the interview, he raised a separate concern: as AI becomes better at reading, writing, programming and other cognitive tasks, people could lose some of the underlying skills that historically helped produce new ideas. “The other danger is that we’re going to lose the human skills,” Butler said. He specifically mentioned reading and writing and argued that people could lose some of the lower-level understanding that contributes to breakthroughs. Butler said AI systems are based on existing human knowledge and argued that they become much more powerful when paired with a capable person. That tension runs through his view of the technology. AI can remove hours of routine work. It can allow beginners to perform tasks that once required substantial technical training. It can give experienced workers significant leverage. But the more capable the technology becomes, the more important it may be for people to develop the judgement needed to decide what should be done in the first place. For Butler, that is where education may have to change. Students still need to understand their field. They still need to know when something is wrong. And they still need to be able to make the final decision. But if AI increasingly handles the bottom of the cognitive pyramid, the value of a worker may depend less on how quickly they can perform the grunt work and more on whether they understand what the work is supposed to accomplish. Don’t miss the next story that affects your community. Join thousands of readers getting The Pulse every morning—plus breaking news alerts when it matters most. If you value this kind of local journalism, consider supporting it. Subscribe, share and like! Subscribe Share
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How Scientists Can Shape Public Opinion Over A.I. Risks
Artificial intelligence workers may have leverage to make the world safer.
Ofer Yannay seeks $200 million for Nofar’s legacy solar business
Nofar is offering to sell its rooftop solar and storage operations as it looks to reduce leverage and strengthen its cash position.
Navigating the American Dream: How Integrated Financial Tools, Credit and Rewards Can Help Small Businesses Succeed
(Feature Impact) Owning a small business has been a cornerstone of the “American Dream” for generations. It represents the chance to transform a passion into a livelihood and legacy. However, turning dreams into reality is rarely a smooth or easy process and requires more than ambition alone. Today’s business owners need support and access to tools that enable them to overcome challenges and keep growing.#placement_678081_0_i{width:100%;margin:0 auto;}var rnd = window.rnd || Math.floor(Math.random()*10e6);var pid678081 = window.pid678081 || rnd;var plc678081 = window.plc678081 || 0;var abkw = window.abkw || '';var absrc = 'https://ads.empowerlocal.co/adserve/;ID=181918;size=0x0;setID=678081;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid678081+';place='+(plc678081++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER';var _absrc = absrc.split("type=js"); absrc = _absrc[0] + 'type=js;referrer=' + encodeURIComponent(document.location.href) + _absrc[1];document.write('');Recent research conducted by the Capital One Insights Center shows 75% of more than 1,000 surveyed small business owners with more than one employee and annual revenues of up to $20 million are confident about the future, and 69% believe their business is actively primed for growth.While this optimism is promising, 47% of business owners still said their operations either stayed the same or became less efficient over the past year, citing issues like back-office friction and fragmented financial systems that make it difficult to get a clear picture of the health of their businesses.If you’re a small business owner eager to grow but not sure how to get there, start with this advice from real small business owners and experts at Capital One.Identify Sources of FrictionBefore you can pour effort into growth, you must understand what barriers are holding you back. Take time to look under the hood of your business to identify where time and energy is being lost.For example, you may be among the 78% of small business owners who feel stressed and uncertain about expense management – think hours spent hunting for receipts, manually entering numbers into software and reconciling accounts. Operational challenges aren’t just a hassle; they also pull attention away from important priorities like serving your customers and planning for growth. “We were focused on making as many candles as possible, especially during the busy season,” said Katie Roering, co-owner of Fontana Candle Co. “A lot of the back-office tasks like procurement, raw material purchasing, forecasting – all the really important things – were done at 3 a.m., 8 p.m. or on Saturday and Sunday, and there really just was not enough time in the day to get everything done that we needed to. We just knew as we continued to grow, we needed to streamline our processes, build out our team and keep moving forward.”Use Integrated Tools to Manage FinancesInstead of balancing 10 different tracking and analysis tools, you can turn to one-stop solutions to improve efficiency. Time gets lost when you’re forced to manually gather and interpret relevant data before you’re able to act. You need a platform that handles the busywork for you.Integrated, or “all-in-one,” financial tools – like accounting and bookkeeping platforms with automation capabilities or business credit cards featuring built-in analytical tools – allow you to easily stay on top of cash flow and day-to-day operations. For small businesses where every hour and dollar makes a difference, consolidating and automating systems can have an immediate impact. In fact, 51% of survey respondents said integrated tools have already fueled their growth.Leverage Credit Access and Rewards WiselyGrowth requires capital, so access to credit is a game-changer for many business owners, with 77% describing it as a key factor in achieving business resilience. Having funds accessible when you need them makes your business more capable of weathering storms such as equipment failures and seasonal slowdowns. It also puts the power in your hands to act when an exciting opportunity presents itself, like an inventory flash sale or the chance to advertise in a new market.Access to credit comes with another advantage: rewards. By using credit cards for your daily business expenses, you can earn cash back, points or travel rewards. Whether you redeem these to cover everyday expenses, book business trips or reinvest in the business, they can act as a bonus source of income. Learn to maximize rewards like the 84% of small business cardholders surveyed so you aren’t leaving money on the table.To learn more about how small business owners can identify obstacles, employ integrated financial tools and use credit as a tool for growth, read the full report at capitalone.com/about/insights-center.Photos courtesy of Shutterstock
Fact check: What are U.S. Senate candidates’ stances on data centers in KS race?
As some communities seek to leverage projects to offset local taxes, others are preparing to vote on proposals to ban data center developments outright.
Oracle and Buck Institute for Research on Aging Advance Federal Aging Research Initiative
ORLANDO, Fla., Sept. 23, 2026 — Oracle Health and Life Sciences Summit — Oracle and the Buck Institute for Research on Aging are collaborating to advance intelligence into age-related disease and support discoveries that can extend the healthy years of life. Buck will leverage Oracle Life Sciences Data Intelligence, which encompasses 122 million+ de-identified longitudinal […]
Hawks Injuries Kill Daniel Gafford Trade Talks Before Start
With Henri Veesaar out for the season, the Hawks lose their leverage. See how the ACL tear shuts down the Daniel Gafford trade window immediately.
Blakeman wants to end HALT through governor's leverage
It's conventional wisdom that he would face a Democrat led legislature if elected.
Virtual SUD support platform Nosis launches to address lifestyle, diet needs
Nosis, a platform supporting substance use disorder (SUD) recovery, is launching from stealth in all 50 states. | The virtual startup leverages labs with health coaches and dietitians to address the biological and metabolic health needs of individuals in recovery.
The UIndy College of Health Sciences Recognizes Outstanding Alumni with 2026 Awards
The University of Indianapolis’s College of Health Sciences (CHS) proudly recognized outstanding alumni who have achieved exceptional success and leveraged their UIndy education to make a significant impact in their field, within their communities, and in the world. This year’s CHS Alumni Awards recipients were: Ralph Reiff '80 (Physical Education, Biology) A first-generation college student,
The UIndy College of Health Sciences Recognizes Outstanding Alumni with 2026 Awards
The University of Indianapolis’s College of Health Sciences (CHS) proudly recognized outstanding alumni who have achieved exceptional success and leveraged their UIndy education to make a significant impact in their field, within their communities, and in the world. This year’s CHS Alumni Awards recipients were: Ralph Reiff '80 (Physical Education, Biology) A first-generation college student,
How a New Pistachio CEO Leverages CPG Experience to Drive Health Demand
Mike Forbes draws on leadership at Alter Eco, Procter & Gamble and California Olive Ranch to harness TikTok influencers, clean eating and global culinary partnerships.
Trump shattered Canada’s old US relationship. Carney is building a new one in Europe
TORONTO (AP) — For nearly four decades, Canada built its economy around closer integration with the United States. President Donald Trump has turned that dependence into leverage, imposing tariffs, threatening Canada’s sovereignty and openly seeking to pull Canadian industrial production south. Canadian Prime Minister Mark Carney has moved on. Rather than return to trade talks […]
How to Navigate Social Media’s Data Evolution as a Small Business Owner
As the digital media landscape evolves rapidly, small business owners need to stay informed and learn how to leverage emerging platforms to reach their audience. Max McCoy, a paid Media Specialist for Circulus Digital Media, says Meta’s recent algorithm adjustments have changed how it gathers user data. He says Meta increasingly relies on first-party data, […]
AMC Entertainment Holdings (AMC) Could Be 6% Undervalued As Premium Formats Lift Attendance
Recent commentary on AMC Entertainment Holdings (AMC) points to a stronger film slate and higher demand for premium formats. This is lifting attendance and sentiment even as investors continue to watch the company’s leverage closely. At a share price of US$2.70, AMC Entertainment Holdings has seen a 7 day share price return of 9.76% and a year to date share price return of 67.70%, yet the 1 year total shareholder return has declined 10.30%, signalling that recent momentum contrasts with a...
Dodgers Face Sasaki Decision After Encouraging Live Session
Roki Sasaki’s recovery forces a strategic crossroads for Los Angeles Dodgers manager Dave Roberts: deploy the flamethrower as a high-leverage reliever or vital rotation insurance.
16th Asian Chief Dental Officers Meeting: Advancing universal health coverage for oral health in the WHO Western Pacific and South-East Asia Regions
Session 3 of the 100-Day Sprint BackgroundOral diseases remain among the most prevalent noncommunicable diseases (NCDs) across Asia, affecting people throughout the life course and placing a significant burden on individuals, families and health systems. Countries across the World Health Organization (WHO) Western Pacific Region and South-East Asia Region have committed to strengthening oral health through regional action plans and by advancing universal health coverage (UHC). The 16th Asian Chief Dental Officers Meeting (ACDOM) serves as a regional platform for Chief Dental Officers in Asia to exchange experiences, strengthen collaboration and accelerate implementation of oral health commitments. For the first time, the meeting is being jointly organized by the WHO Regional Offices for South-East Asia and for the Western Pacific and the ACDOM Secretariat. This year's meeting introduces a 100-Day Sprint, bringing together oral health and UHC leads and technical experts to support countries in strengthening integration of oral health within national UHC benefit packages. Through the Sprint, participating countries will develop, refine, cost and operationalize country-specific essential oral health-care benefit packages using WHO tools, including the Service Package Delivery and Implementation (SPDI) Platform. The in-person 16th Asian Chief Dental Officers Meeting represents Session 3 and the midpoint of the 100-Day Sprint, providing an opportunity for countries to review progress, exchange experiences, identify challenges and refine their approaches before continuing with the remaining Sprint sessions. 100-Day SprintSession Date Format Title Session 1 (Day 0) 19 Aug Virtual Setting the Scene and Introducing Key Principles and Frameworks Session 2 16 SepVirtual Introduction to the SPDI Platform and Initial Mapping Exercise Session 3 27-29 Sep In-person, 16th Asian Chief Dental Officer Meeting, Malaysia Review and Refinement of Oral Health Service Packages Session 4 14 Oct Virtual Finalizing National Essential Oral Health Services Packages and Costing Exercise Session 5 (Day 100) 26 Nov Virtual Country Presentations and Closing of the 100-Day Sprint ObjectivesLeverage the 100-Day Sprint to define priority implementation actions for oral health in countries; Strengthen national capacity to design, cost and operationalize country-specific essential oral health care packages using SPDI platform; andExplore cross-country collaboration to expand access to essential oral health supplies and products, including harmonized specifications and pricing, and improve supply chains for essential dental preparations and medicines.Expected outcomesA draft country-specific essential oral health care benefit package developed using the SPDI platform and aligned with WHO’s Essential Oral Health Care packageA strengthened regional network in Asia of oral health and UHC leaders, fostering collaboration among South-East Asia and Western Pacific countries, WHO offices and WHO Collaborating Centres to support sustained implementation beyond the meetingParticipantsChief Dental Officers and national oral health programme leads;National focal points responsible for universal health coverage, health financing and health systems;Representatives from WHO country offices, regional offices and headquarters;WHO Collaborating Centres; andAcademic institutions and technical partners.
Canada looks to deepen research and education links with the EU
Canada is looking for deeper research and education links with the EU, according to its prime minister, Mark Carney. His comments followed hard on the heels of an offer from European Commission President Ursula von der Leyen to give his nation associate membership of the EU, a status that currently has no legal status or definition. Both sides have yet to detail how this newfound political enthusiasm will translate into concrete action.Addressing the European Parliament on September 17, Carney cited both the Horizon Europe research and innovation programme and the Erasmus+ student mobility scheme as areas for future collaboration.Association with the next iteration of Horizon Europe “would allow us to pool resources, cooperate on frontier technology, leverage our world-class research institutes and universities,” he told MEPs. Canada joined the present programme in 2024, but only takes part in Pillar 2, which supports collaborative research projects. Carney also said that young people should be allowed to work, study and live where they want, on either side of the Atlantic. “Canadian membership of Erasmus+ would give your students and ours more opportunity to learn at some of the world’s top universities, to broaden their horizon and to build those lasting ties that will sustain our alliance,” he said.Limited exchanges with Canada are already possible, for example in the Erasmus Mundus strand of the scheme, which supports joint master’s programmes. This would be considerably increased if the country became a full associate member, a club currently limited to nations neighbouring the EU.Most favoured nation?As for the offer of associate membership of the EU, the aim would be to build “an alliance for the future to create a common prosperity and economic security base,” von der Leyen said during her state of the European Union address, also in the European Parliament in Strasbourg, on September 16.“We will work on intelligent manufacturing,” she went on. “We will create a tech alliance. We will integrate defence industrial bases. We will make the Arctic a flagship joint project. We will work on energy-critical minerals and batteries, on [artificial intelligence], quantum, cyber and economic security.”Mona Nemer, Canada’s chief science advisor, told Science|Business that the political speeches by Carney and Von der Leyen will open the door to even more scientific cooperation between Canada and the EU. She even attributed the broader political partnership to the scientific diplomacy of Horizon Europe association. “The science and research collaborations have predated this political rapprochement,” she said.While she is not part of the government decision-making process, Nemer thinks Carney’s speech in the European Parliament is more than “political posturing” and the Canadian government is likely to come up with more practical ideas for how to boost collaboration in the near future. “The prime minister mentioned Horizon [Europe] and Erasmus+, maybe there is something more concrete around this,” she said.She went on to suggest that Canada and Europe could also work more closely together on setting international standards for emerging technologies, AI safety, data sovereignty and joint research infrastructures, such as particle accelerators and marine research fleets.Nemer confirmed that science cooperation will be on the agenda at an upcoming EU-Canada summit in October. She met recently with EU ambassadors to Canada to "see where the possibilities are, to signal that there is interest."Room for expansionLike other countries outside Europe that are associated to Horizon Europe, such as South Korea, Australia or Japan, Canada is not allowed to host European Research Council (ERC) grantees. However, Canadian universities hint they would like re-open that discussion. “Canada’s participation in Horizon Europe, the world's largest research funding programme, has been a big success,” said Robert Asselin, the chief executive of U15 Canada, an umbrella body for some of the country’s biggest research universities, in a statement. “Ensuring swift re-association to the next research programme, will be vital to maintain this momentum. We would welcome efforts to explore further opportunities to collaborate with European partners, such as through the European Research Council,” he said. Related articlesHow a new multilateral defence bank could boost innovationEurope’s independence hinges on innovation, von der Leyen saysBut so far, there are no details from the Commission on how von der Leyen’s proposal would boost Canadian access to the ERC or other sensitive research calls in Horizon Europe. And it is unclear how other non-European associated countries, such as New Zealand or Australia, would react if Canada was given better access than them. The same questions may arise closer to home. “How would a new category of associate member of the EU differ from Norway’s participation in EU programmes through the European Economic Area?” asked Jan Palmowski, secretary general of the Guild of European Research-Intensive Universities. “And how does this proposal for Canada change discussion for the UK, Norway and Switzerland for the next Multiannual Financial Framework?”Another area for discussion is how far Canadian organisations can participate in sensitive projects. “I would expect some of the most crucial issues at hand to be whether Canada can participate more closely and predictably in calls that are deemed sensitive on research security or EU preference grounds, on critical technologies, for instance,” Palmowski said. Canada’s participation in other parts of Horizon Europe, as well as the European Competitiveness Fund, might also be discussed, he added.Whatever the details, closer cooperation between the EU and Canada represents a “substantial” opportunity, according to Mattias Björnmalm, secretary general of the Cesaer university group. “Scientific excellence depends on talented people being able to work together, exchange knowledge and access complementary expertise and infrastructure,” he said. “A closer EU-Canada partnership would strengthen these conditions and provide greater certainty for long-term collaboration.”
Trump’s North Korea outreach is about U.S. politics
Pyongyang’s shifting priorities leave Washington with little leverage.
Dodgers Need Díaz to Prove He Belongs on Postseason Roster
Struggling through a rocky rehab assignment, Edwin Díaz faces a high-stakes final audition to prove his command and secure a high-leverage spot in the Los Angeles Dodgers bullpen for the postseason.
PENN Entertainment holds steady with $18 target amid mixed earnings and debt concerns.
PENN Entertainment maintains a Hold rating with an $18 price target due to mixed Q2 earnings and limited valuation upside compared to peers. The retail segment showed solid growth with a 5.6% increase in adjusted EBITDAR, especially strong in the Midwest and West regions. However, the Interactive segment's revenue growth has slowed sharply despite improving profitability, raising concerns about long-term competitiveness. The company remains highly leveraged with net debt around 5.2x–5.5x, making proactive debt reduction and consistent Interactive profitability key factors to watch going forward.
Devon Dampier Is the Utah Problem Arkansas Must Solve
Utah quarterback Devon Dampier is more than a dual-threat quarterback. He is the central stress point in an offense that can punish Arkansas for losing leverage, missing tackles, or allowing one broken play to become a touchdown. Devon Dampier Is the Utah Problem Arkansas Must Solve Arkansas is not traveling to Salt Lake City simply …
Multi-generational business expertise: How legacies in local businesses find sustained success
Join us Sept. 29 for our third Power Breakfast of 2026 as business leaders share how they leverage decades of institutional wisdom. The Greater Fayetteville Business Journal invites you to join us for our third quarterly Power Breakfast, The Family Business Advantage: How Third-Generation Leaders Drive Longevity and Innovation, where business owners, executives and community leaders will come together to explore how multi-generational leadership creates lasting success. We are proud to welcome CEO of Holmes Security Systems, Stephen Wheeler; Director of Communications for Copiers Plus, Drew Smith; Inside Sales at Hubbard Supplyhouse, Mary Grace Hurley; and Managing Partner of Luigi’s Italian Chophouse & Bar, Nate Ernst, as our featured panelists. Representing the third generation of leadership within their family businesses, each brings a unique perspective on honoring decades of tradition while embracing new ideas, technologies and strategies that drive long-term growth. Together, with moderator Lauren Willets, Director of the Family Enterprise Center at UNC’s Kenan-Flagler Business School, they will share the challenges, opportunities and lessons learned from leading established organizations into the future.“Growing up in a family business gave me a unique perspective on what business can be. I saw the pride my grandfather and father took in knowing someone was a Copiers Plus customer, and the deep responsibility they felt to support our employees and the families who depended on the business. Seeing that sense of connection firsthand is what drew me to the business, and the legacy they built continues to drive me today. I’m excited to be part of the conversation about how family businesses can honor what previous generations built while continuing to grow and evolve for the future,” shared panelist Drew Smith. “We are so excited to welcome our panelists highlighting long-standing Fayetteville family businesses. This theme has certainly piqued the interest of the business community even beyond Fayetteville. I’m excited to pass the moderator baton over to Lauren Willets. With her background and expertise in the subject, she’s sure to unlock some great talking points and perspectives that will keep the conversation fresh and interesting to our guests. “We are so excited to welcome our panelists highlighting long-standing Fayetteville family businesses. This theme has certainly piqued the interest of the business community A third-generation family business is quite an impressive accomplishment, and we look forward to examining their secrets to a successful succession at this upcoming Power Breakfast!” shared Greater Fayetteville Business Journal Publisher Faith Hatton. Join us at the Cape Fear Botanical Garden for an inspiring morning of networking, thought-provoking discussion and actionable insights into the power of continuity, strategic evolution and visionary leadership. Whether your organization is family-owned or simply focused on creating a lasting legacy, you’ll leave with ideas that can strengthen your business for generations to come.To learn about becoming a Power Breakfast sponsor, contact the Greater Fayetteville Business Journal at 910.240.9697 or marketing@bizfayetteville.com. Tickets are on sale now. Reserve your seat by going to fayettevillepowerbreakfast.com.
ZE Creative taps Stuart Rabinowitz as senior strategic adviser
ZE Creative Communications appoints Stuart Rabinowitz, former Hofstra University president, as senior strategic adviser to leverage his Long Island expertise.
SOPRIS TECHNOLOGIES Launches Moneytoring® on Google Cloud Marketplace, Offering Comprehensive Business Observability
CORAL GABLES, Fla., Sept. 10, 2026 (GLOBE NEWSWIRE) -- SOPRIS TECHNOLOGIES today announced that its flagship service, Moneytoring: Business Observability as a Service, is now available on Google Cloud Marketplace. This milestone enables Google Cloud customers to procure, deploy, and scale Moneytoring directly through their existing cloud accounts. By utilizing consolidated billing through Google Cloud, enterprises streamline procurement and leverage their committed cloud spend to protect revenue
Local politics limits China’s rare earth leverage
China’s rare earth dominance rests on a fragmented system of ministries, provinces and firms, each pursuing their own interests.
Should the Miami Heat Sign Former National Champion?
As Memphis prepares to waive Walter Clayton Jr., the Miami Heat could leverage their proven developmental system to transform the former Florida star into the next high-impact guard.
Steelers holding leverage in Joey Porter Jr. contract talks
The Pittsburgh Steelers maintain crucial franchise tag options as negotiations with cornerback Joey Porter Jr. enter a critical pre-season stretch.
How Do Business Owners Really Feel About Influencers? It’s A ‘Love-Hate Relationship’
Four entrepreneurs tell Inc. how they leverage content creators to grow their U.S. brick-and-mortar businesses.
Miami Heat's Davion Mitchell Eyeing the Most Improved Player Award
A cryptic beach message signals high ambitions for the Miami Heat’s starting point guard. Surrounded by superstars, Davion Mitchell aims to leverage his facilitating role into a career-defining season.
Canada’s Top 25 Entertainment Dealmakers of 2026
Trump’s trade war has given the country’s entertainment industry something it hasn’t had in years: leverage, swagger and a hit list of its own.
Simon Edvinsson’s Contract Price May Have Just Increased
Zeev Buium's eight-year, $75.04 million deal could give Simon Edvinsson additional leverage in his contract talks with the Red Wings.
Bengals Have Two Key Players Heading Into 2026 Without Extensions
Defying typical NFL holdout trends, cornerbacks D.J. Turner and Dax Hill are prioritizing the team over contract leverage as Cincinnati’s front office navigates another high-stakes offseason.
Leak lists Zelda: Ocarina of Time remake developer as Xenoblade Chronicles studio
A retailer may have inadvertently leaked information about the Ocarina of Time remake. Elkjøp specifies Monolith Soft as the lead developer for the Switch 2 game. While the Xenoblade Chronicles studio has supported Nintendo EPD in recent Zelda projects, its leverage over the franchise has grown.
Deere launches AI assistant named JD to guide farmers’ choices
The chat bot can help leverage data specific to growers’ fields, with information collected when crops are being planted, treated or harvested.
LZ Sees Surprising Result in Search for Dark Matter
Key Takeaways Dark matter is the mysterious substance that accounts for the vast majority of matter in our universe. LUX-ZEPLIN (LZ) is a world-leading dark matter detector and specializes in searching for WIMPs, or weakly interacting massive particles. A new LZ study found one particle interaction that is difficult to explain with known background processes and could potentially have been caused by a WIMP. LZ continues to run to see if additional data strengthens or weakens the hint of a dark matter interaction. For the better part of a century, people have been trying to understand dark matter. This invisible substance makes up roughly 85% of the mass in the universe but has never been directly detected. Determining exactly what it is remains one of the biggest questions about our world. Now, a new analysis from the LUX-ZEPLIN (LZ) experiment has recorded a single particle interaction that researchers have great difficulty explaining with known background signals from normal matter. The result does not yet meet the statistical threshold required to claim a discovery, but is the most compelling hint of dark matter reported by the experiment to date. LZ is an international collaboration of 250 scientists and engineers from 39 institutions. The detector is managed by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab) and operates nearly one mile below ground at the Sanford Underground Research Facility (SURF) in South Dakota. The experiment uses 10 tonnes of ultrapure liquid xenon to search for dark matter and is optimized to look for WIMPs, or weakly interacting massive particles. The results were presented in a scientific talk at the 2026 TeV Particle Astrophysics conference in Japan. The paper will be released on the online repository arXiv and submitted to the journal Physical Review Letters. “We’re very intrigued to see this event in the data, in the region where we expect dark matter to show up and the competing backgrounds are very low,” said Rick Gaitskell, a professor at Brown University and the spokesperson for LZ. “With only one event, we don’t want to get ahead of ourselves. We are not claiming to have seen dark matter. But we have seen something interesting that we want to share with the scientific community for their input.” The LZ collaboration studies experimental data in batches. In the new result, researchers analyzed 220 live days of data collected between March 2023 and April 2024. The collaboration had previously searched this dataset for faint signals from the simplest kinds of WIMP interactions. The new analysis searched for a broader range of possible WIMP interactions that could deposit more energy in the detector. LZ is particularly sensitive to such signals while also minimizing false positives. “This was a detailed study in a region we hadn’t explored within this dataset, and we spent months of additional effort to understand all the possible causes of background events,” said Sam Eriksen, a senior research associate at the University of Bristol in the U.K. and lead author of the study. “We understand our detector and the backgrounds so well that even a single outstanding event, like the one we found, is important. We expect dark matter events to be extremely rare, so only a handful could mark the first detection of WIMP dark matter.” If the anomalous event was caused by dark matter, the WIMP that generated it would likely have a mass of at least 200 GeV/c2 (gigaelectronvolts), or more than 200 times the mass of a proton. It would also suggest a specific type of interaction between WIMPs and ordinary matter beyond the simplest model. The LZ results have not reached “5-sigma” significance, the statistical threshold considered a discovery in physics. The new analysis is 2.6 sigma, meaning there is approximately a 0.5% chance that the event could be explained by known backgrounds. With additional data, researchers can test whether the finding continues to grow in significance or fades away. LZ has already accumulated the world’s largest dark matter dataset and will continue to accrue WIMP search data at SURF, substantially improving their search statistics. LZ searches for dark matter by looking for signature flashes of light from energy deposited in the detector. The collaboration leverages multiple methods to prevent or account for particle interactions caused by normal matter. This includes the mile of rock that shields the detector from cosmic rays from space, a water tank and outer detectors that protect the central detector from background neutrons, and a suite of computational tools that disentangle particle interactions and reject dark matter mimics. “Outlier events in the data are not unexpected, but they usually stand out as a background of some kind when you look at them deeper,” said Aaron Manalaysay, a physicist at Berkeley Lab and the chair of LZ’s Institutional Board. “This is the first example in any experiment I’ve worked on of an outlier that appears valid in every way. Of course, we’re still twisting our brains trying to think if there’s a rare background mechanism we could’ve missed, but it’s thrilling to wonder if this could be the first hint of a dark-matter observation.” LZ is supported by the U.S. Department of Energy, Office of Science, Office of High Energy and Nuclear Physics, and the National Energy Research Scientific Computing Center, a DOE Office of Science user facility. LZ is also supported by the Science & Technology Facilities Council of the United Kingdom; the Portuguese Foundation for Science and Technology; the Swiss National Science Foundation; the Australian Research Council Centre of Excellence for Dark Matter Particle Physics; and the Institute for Basic Science, Korea. Thirty-nine institutions of higher education and advanced research provided support to LZ. The LZ collaboration acknowledges the assistance of the Sanford Underground Research Facility. ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices
Hey all, Jason here. When this hits your inbox, I should be en route to the airport — not to go anywhere myself, just to pick up my better half. I must admit, it’s been strange to be home alone (well, with two dogs) for two weeks! Really lets me “optimize” to spending more time on reading/writing/working, whether that’s healthy or not! Looking forward to getting back into a (somewhat) more balance routine. Subscribe or Support by Upgrading Compare Notes With the People Who Built Modern Fintech Partner content: Remitly CEO Sebastian Gunningham. Increase founder Darragh Buckley. Linda Du, Co-founder & President at Valon. They’ll unpack the decisions behind building and scaling major financial products: what they got right, what broke, what they would do differently, and how AI and new infrastructure are changing the operator playbook. Most events tell you where fintech is going. NerdCon puts the people who built the present in the room and asks them what comes next. Expect an operator-led conversation grounded in real products, real trade-offs and lessons earned the hard way. Fintech Business Weekly readers save 20% on Regular tickets with code FBW20 before standard pricing ends September 11. Meet the Builders Things To Know & Other Good Reads Advent and Stripe Abandon $50 Billion Pursuit of PayPal (Bloomberg) Trump Family’s New Crypto Bank Is Backed by Abu Dhabi Sheikh (Wall Street Journal) The multiplying risks of financing data centres (FT) Let the Bond Market Speak (Wall Street Journal) Did we waste a crisis? Modest proposals to reform deposit insurance. (Fintech Takes Banking) Untangling Guggenheim: How Private Credit Built Its Own Universe (Net Interest) The Hater’s Guide To Circular Financing — Part One (Ed Zitron) Fiat Ventures Rebrands to FGV Capital, Announces $35M Oversubscribed Fund II (BusinessWire) Socure Announces Strategic Growth Investment at $5.2B Valuation and Acquires Agentic Operations Platform Fravity (Socure) Listen: When Consumer Protection Disclosures Work Too Well (Consumer Finance Monitor Podcast) Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices When Andreessen Horowitz led EarnIn’s $39 million Series B in 2017, Alex Rampell, a partner at the storied venture capital firm, described EarnIn’s small-dollar advance product as “free,” relying on “entirely on voluntary contributions instead of fees.” Rampell favorably compared EarnIn’s approach to typical payday loans, writing, “Payday loans historically have had the potential to be a slippery slope for consumers into financial distress: opaque systems and steep fees that are hard to repay and set individuals back further than where they started. For many Americans living paycheck to paycheck, that kind of slide into debt can be extremely difficult to recover from.” But EarnIn’s product — which, the company says, isn’t a “loan,” legally speaking — ends up being anything but free for most users. While it is technically possible to take a no-fee advance from the company, most users incur “Lightning Speed” (instant funding) fees and/or ostensibly optional tips that combined can equate to annualized percent rates that can reach over 1,000%. With an average term of 9.77 days, even fees and tips that are small on an absolute dollar basis are equivalent to high APRs on an annualized basis. A lawsuit filed last week by Colorado Attorney General Phil Weiser against EarnIn describes the company and its product and business practices quite differently than Andreessen’s Rampell; “EarnIn’s business practices are unfair because they are immoral, unethical, oppressive and unscrupulous,” the complaint, filed in District Court in Denver, Colorado, says. EarnIn’s marquee product, Cash Out, isn’t a loan, the company says, as Cash Out is not “[f]orward [l]ooking” because “[t]he money is transferred based on earnings to date,” does not carry a mandatory fee to access funds, and is “non-recourse,” meaning EarnIn cannot pursue recovery from users who don’t repay advanced funds. EarnIn is sometimes referred to as an “Earned Wage Advance” service. Though, unlike some others in the broader category, EarnIn does not integrate with employers’ payroll or time and attendance systems. Rather, EarnIn attempts to verify a user’s income and employment, by examining direct deposit transaction data in their linked external bank account, by using GPS location and Bluetooth data to estimate a user’s time spent at work, if they work in a fixed location, and/or by having a user provided a work email address. While repayment is theoretically optional, as EarnIn would have no recourse, such as reporting non-payment to the credit bureaus or a collections agency, this is anything but clear to users of the EarnIn app, Colorado’s complaint argues. During the process of taking a Cash Out, users must agree to a preauthorized debit of the amount advanced, plus any expedited funding fee and/or tips. Though users technically can revoke this ACH authorization, the fact that they have this right isn’t presented to users during the Cash Out process, but rather is included in linked terms and conditions few users are likely to actually read. And users who do wish to revoke their ACH authorization must do so three or more days before the scheduled transaction date by emailing EarnIn’s customer support. Similarly, EarnIn’s marketing claims that it carries “no interest” and “no mandatory fees” is technically true, but is not the reality for many of the app’s users, the Colorado complaint argues. Further, EarnIn has extensively marketed to users the ability to “access your pay today,” to get “instant” funds, and to get funds “the same day you work” — when, in reality, this speed of access was only possible by paying the additional, undisclosed Lightning Speed fee. The Colorado complaint highlights this contradiction specifically, noting: EarnIn tells consumers that they can ‘Make any day payday with EarnIn’ and that there no ‘hidden’ or ‘mandatory fees.’ For a consumer to access their pay on the same day requested, they would have to pay the Lightning Speed fee. In the fine print of the advertisement EarnIn discloses that ‘[f]ees apply to use Lightning Speed,’ a direct contradiction to the larger text of the advertisement, and a fact that would not be immediately understood by a consumer as ‘Lightning Speed’ is not defined nor explained. Like other small-dollar lending services, rather than explicitly charge interest, EarnIn collects a markup on the optional Lighting Speed fee, which, given the nature of the transactions, many users opt for, as well as offering users the option to leave “tips.” EarnIn leverages either Real-Time Payments (RTP) rails or push-to-card via debit rails if a user opts for the optional Lightning Speed. But while these capabilities cost EarnIn, on average, $0.075 or $0.20 per transaction, respectively, EarnIn charges users significantly more. Initially, EarnIn charged as little as $1.99 for Cash Outs up to $24. But EarnIn has hiked these fees multiple times, and now charges $4.99 for Cash Outs up to $75 and $6.99 for those over $75. According to the Colorado complaint, EarnIn leverages “dark patterns” to manipulate users and to make it more difficult to avoid tipping. Examples of these “road blocks” highlighted in the complaint include: As of 2023, in the EarnIn app, a consumer attempting to get a loan under the default settings had to make at least eighteen separate taps to complete the transaction and reduce the tip to $0. There is an alternative method to leave a $0 tip, via the “Custom tip” feature, but EarnIn made this option difficult to access by visually deemphasizing it and positioning it near devices’ “home” button. Using language and imagery such as “Tip to pay it forward,” “Your generosity supports the service + helps,” “Your tips make a difference,” and “[t]he APR for this cash out is 0%. Your tips help support us.” While Lightning Speed and tipping are, in theory, both optional, in practice, users nearly always ended up paying something. According to the Colorado suit, users were charged either a tip or an expedite fee for more than 92% of transactions, with an average APR of nearly 388%. And, although the advances are “non-recourse,” EarnIn successfully collects on nearly all transactions — 99.18%, according to the complaint, which, Colorado argues, “demonstrat[es] that EarnIn’s advances function as high cost loans, not voluntary payments.” The share of EarnIn users incurring fees — despite the product being marketed as 0% APR — is hard to reconcile with Andreessen investor Rampell’s favorable description of EarnIn vs. “opaque systems and steep fees” associated with payday loans, which, Rampell says, can be “extremely difficult” for borrowers to extricate themselves from. According to Colorado’s suit, EarnIn’s Cash Out product “trapped many consumers in extreme cycles of high-cost reborrowing.” The suit gives an example of one consumer in the state, who took out a whopping 1,151 loans, paying a total of $4,038.50 in Lightning Speed expedited funding fees on loans that averaged the equivalent of 1,421% APR. Another Colorado user, the suit says, took out 1,033 loans, paying $8,561.22 in tips and fees at an average APR of 1,539% . These types of usage patterns demonstrate “the severe and repeated financial harm caused by EarnIn’s illegal lending model,” the Colorado complaint argues. In aggregate, from January 2023 through July 2025, EarnIn extended 3.1 million loans to 56,778 users in Colorado — an average of nearly 55 transactions per person during the time period. EarnIn lent more than $300 million and collected more than $16 million from Colorado users in Lightning Speed fees and in tips. Ultimately, the Colorado complaint argues that “EarnIn’s Cash Outs are loans under Colorado law, and EarnIn’s contention that its product is not a loan based on its disclaimer of any legal repayment obligation lacks any real-world significance given how the Cash Out transactions actually operate in practice.” Colorado further argues that “EarnIn was not working with companies here in providing consumers with funds but acted as a third-party lender and charged illegally high rates, used deceptive design strategies to extract some charges, and trapped consumers in repeat borrowing. Colorado will continue to stand up for consumers and hold companies accountable when they violate our credit laws or attempt to evade them through misleading practices.” Colorado’s suit alleges EarnIn assesses finance charge in excess of that permitted by Colorado law, that EarnIn failed to make legally required disclosures to Colorado borrowers, that EarnIn made supervised loans to consumers without obtaining the requisite license, that EarnIn violated the state’s Deferred Deposit Loan Act, that EarnIn engage in unfair and deceptive trade practices, and that EarnIn made false or misleading statements concerning price. The suit seeks a court order enjoining EarnIn from violating relevant Colorado laws, for EarnIn to refund amounts charged in excess of state law, fees, costs, and penalties, and other relief the court deems to be just. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Q2 Quarterly Banking Profile: Five Quick Takeaways The FDIC released its quarterly banking profile, which is always worth a read, for the second quarter. The profile provides an aggregate snapshot about the overall health of the 4,238 institutions whose deposits are insured by the FDIC, who, collectively, hold more than $26 trillion in assets and saw a total net income of more than $90 billion in the second quarter. Net income was up 12% vs. Q1 2026, with lower provisions and realized gains on securities helping to drive the improvement, somewhat offset by increases in non-interest expense and applicable income taxes. Overall net interest margin was basically flat quarter over quarter (up 1 basis point vs. Q1 2026), though community banks saw NIM grow by 10 basis points, to 3.81%. Unsurprisingly, given that interest rates haven’t changed, unrealized losses on securities changed little, edging up slightly to $326.7 billion vs. $325.1 billion in Q1 2026. Aggregate credit quality has remained benign, with asset quality actually improving slightly in Q2. Overall, institutions reported a 9 basis point decline in their past-due and non-accrual rate, to 1.44%. Net charge off rate also declined by 2 basis points, to 0.57%. And finally, the FDIC’s deposit insurance fund stands at $161.1 billion, making the DIF reserve ratio 1.48% — above the statutory minimum of 1.35%, but still below the designated target reserve ratio of 2%. [Paid Subscriber Exclusive] Nissan Withdraws ILC App, State Associations Plan BankChain Alliance, FDIC Defines “Unsafe or Unsound Practice” For First Time Automaker Nissan withdrew its application to charter a Utah industrial loan company and its corresponding application to the FDIC for deposit insurance last week, on August 19th. Nissan’s application had been outstanding for more than a year, as it originally applied in June 2025. Recent applications to the OCC to form national banks have been decisioned, one way or the other, substantially more quickly than has historically been the case.
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WHO RUNS MARYLAND POLITICS NOW?
ByThe Maryland Wire The Machine Didn’t Die — It Broke Apart Mike Miller is gone. Steny Hoyer is retiring. The two men who helped define Maryland political power for generations are disappearing from the map. Nobody has inherited all of what they controlled. Instead, Maryland power has fractured among Wes Moore, legislative leaders, county organizations, federal figures and a new generation fighting to connect the pieces. By The Maryland Wire For decades, there were two names in Maryland politics that required almost no explanation. Mike Miller. Steny Hoyer. You didn’t necessarily have to agree with them. You didn’t even have to like them. But everyone understood something: Not social-media power. Not cable-news power. Not the temporary power that comes from one big election. They possessed political infrastructure. Relationships. Institutional memory. Donors. Staff. Allies. County leaders. Lobbyists. Legislators. Operatives. And the ability to connect people who needed something with people capable of delivering it. Today one is gone. The other is preparing to leave Congress after more than four decades. And Maryland faces a question it hasn’t had to answer in generations: The answer may be: Nobody. At least not the way Miller once did. Maryland’s old machine wasn’t inherited by one person. It fragmented. And now several ambitious political networks are competing to assemble the pieces. Miller presided over the Maryland Senate for 33 years, becoming one of the longest-serving legislative leaders in American history. He stepped down as Senate president in 2019 and died in January 2021. (Behavioral and Social Sciences) But Miller’s real power wasn’t the title printed on his door. It was the accumulation of relationships behind it. Miller came from Maryland’s old Democratic organization and developed into an extraordinarily adaptable political operator, retaining authority even as the Senate around him became younger and more liberal. (The Washington Post) He understood something fundamental: politics is information. Who wants what? Who owes whom? Which senator needs help? Which county executive wants something in the budget? Which committee chairman can move a bill? Which lobbyist represents which client? Which candidate should receive support today because that candidate could be a senator ten years from now? Miller knew the answers because he’d spent decades collecting them. Miller’s influence wasn’t confined to elected officials. Former Miller aides became prominent Annapolis lobbyists. Maryland Matters noted figures such as Joseph Bryce and Timothy Perry among the high-profile lobbyists who had once served as top Miller aides. (Maryland Matters) That was one of Miller’s greatest political achievements. He didn’t merely accumulate power around himself. He produced alumni. Staffers became lobbyists. Legislators became committee chairs. Allies became power brokers. And decades of relationships reinforced one another. By the end, Mike Miller wasn’t simply a person. He was an ecosystem. Hoyer’s network was different. Miller’s power was rooted in Annapolis. Hoyer connected Maryland to Washington. He served in the Maryland Senate before winning election to Congress in 1981 and ultimately became one of the longest-serving members of the U.S. House and a longtime No. 2 in House Democratic leadership. In January 2026, Hoyer announced that he would retire rather than seek another term. (The Washington Post) His influence stretched through: Prince George’s County, Southern Maryland, Congress, federal agencies, donors, campaign organizations, and generations of Democratic candidates. And Hoyer had something machine builders value enormously: a succession network. That became obvious almost immediately. When Hoyer announced his retirement, Maryland’s 5th Congressional District exploded with candidates. Twenty-four Democrats entered the race. But when the votes were counted, the winner was Adrian Boafo, Hoyer’s former campaign manager. Boafo wasn’t running without establishment help. He was endorsed by Hoyer. He was endorsed by Governor Wes Moore. And he ultimately won the Democratic nomination. (AP News) In his victory speech, Boafo described the result as voters deciding it was time to “pass the torch to a new generation of leaders.” (AP News) That phrase captures the transition perfectly. Hoyer’s seat isn’t simply being vacated. Parts of his network are being transferred. But they aren’t being transferred to another Steny Hoyer. They’re being absorbed into a newer political constellation. And standing prominently inside that constellation is Wes Moore. If someone forces you to name the single person sitting nearest the center of Maryland Democratic politics today, the answer is Governor Wes Moore. The 2026 Democratic gubernatorial primary underscored the scale of his position. Moore won renomination overwhelmingly, receiving roughly 88% of the Democratic primary vote. (WBAL-TV) But raw votes tell only part of the story. Look at the party infrastructure. The Maryland Democratic Party says Steuart Pittman ran for state party chairman in 2025 “at the suggestion of Governor Wes Moore.” Pittman took office that July. (The Maryland Democratic Party) That’s important. Governors traditionally influence their state parties. But party leadership plus fundraising, endorsements, executive appointments and national relationships creates the beginning of something bigger: a political network that could survive the governor’s term. Moore also played a role in the Hoyer succession by backing Boafo. That’s how political organizations reproduce themselves. You support tomorrow’s politician today. And that’s the distinction that matters. Moore has enormous statewide visibility. Miller had decades of accumulated legislative control. Moore can endorse candidates. Miller could influence the environment in which legislators lived every day. Committee assignments. Leadership positions. Legislative priorities. Relationships that had been accumulating since before many current lawmakers entered politics. Moore may have a larger national profile than Miller ever possessed. But he doesn’t possess Miller’s half-century of Annapolis memory. Nobody does. Which is why the modern Maryland political structure looks less like a pyramid and more like several power centers connected by overlapping relationships. One of those centers belongs to Senate President Bill Ferguson. Ferguson controls an institution no governor can simply command. The Senate. Maryland’s official 2026 legislative records identify Ferguson as Senate President. (Maryland General Assembly) That means influence over: committee structure, Senate leadership, legislative priorities, confirmations, and negotiations with the House and governor. But Ferguson is not Mike Miller 2.0. Miller’s extraordinary longevity allowed him to become almost inseparable from the institution. Ferguson possesses the office. Miller possessed the office plus decades of political mythology and accumulated relationships. Those aren’t the same thing. The House now has its own new center of gravity. Official 2026 legislative records identify Joseline Peña-Melnyk as Speaker of the House of Delegates, alongside Ferguson as Senate President. (Maryland General Assembly) That makes the current Maryland governing triangle: Executive power. Senate power. House power. None fully controls the others. And that fact alone demonstrates how different modern Maryland is from the Miller era. The governor proposes. The legislature disposes. Committee leaders negotiate. County interests intervene. And political coalitions shift issue by issue. That’s not one machine. That’s a networked power structure. Then there’s U.S. Senator Angela Alsobrooks. Her significance isn’t that she is the new Hoyer. She isn’t. Hoyer spent decades constructing his network. Alsobrooks brings something different: Prince George’s County roots, a statewide electoral organization, a United States Senate platform, and relationships with national Democratic leaders. That makes her a critical bridge between Maryland and Washington at precisely the moment Hoyer leaves. Hoyer’s retirement therefore doesn’t necessarily weaken Prince George’s influence. It changes who carries it. Prince George’s itself is undergoing a dramatic generational transition. Official 2026 results show Aisha Braveboy winning the Democratic County Executive primary with 87,944 votes and 73.31% of the vote. (Maryland State Board of Elections) That’s political infrastructure. Prince George’s is one of Maryland’s central Democratic vote engines. A county executive with that level of primary support gains: appointments, budget influence, organizational relationships, donor access, and a platform for cultivating the next generation of political leadership. Braveboy therefore isn’t merely another person on the Maryland power map. She controls a place from which a political organization can be built. Boafo is particularly interesting because he sits almost perfectly at the intersection between the old and new worlds. He worked for Hoyer. Hoyer endorsed him. Moore endorsed him. Then Boafo beat an enormous Democratic field for Hoyer’s seat. (AP News) That doesn’t make him powerful on Hoyer’s scale. He’s just beginning. But it illustrates how power actually transfers: not through a ceremonial handoff, but through endorsements, donors, staff, relationships, and voter confidence. Boafo may become Hoyer’s congressional successor. He will not automatically inherit Hoyer’s 40-plus years of political capital. That part has to be rebuilt. This is the part that often gets overlooked. When a machine breaks apart, power doesn’t only move upward. Some people’s relationships become less valuable. Former Miller aides still know Annapolis. Former Miller allies still possess institutional memory. Veteran lobbyists don’t forget how legislation works. But something fundamental disappeared when Miller did: the common center. The person capable of connecting all of them instantly was gone. That changes the value of a political network. Imagine knowing everybody in Annapolis. Useful. Now imagine the person who introduced many of those people, appointed committee chairs, influenced Senate priorities and understood decades of relationships is simultaneously Senate President. Much more useful. Remove that person and the individual relationships remain. But the system becomes decentralized. First: Bill Ferguson. The Senate’s institutional relationships now run through his leadership rather than Miller’s. Second: the House leadership. With the Miller-Busch generation gone, today’s House leaders are building their own committee chairs, alliances and relationships. Third: Wes Moore. Moore became governor after Miller was gone. That distinction matters. Earlier governors had to operate with Miller sitting across State Circle. Moore entered office during a generational reset. Instead of negotiating with the old machine, he has the opportunity to help build the next network. Fourth: Angela Alsobrooks and the emerging Prince George’s generation. Hoyer is leaving. Miller is gone. The county’s political leadership now belongs to another generation. Fifth: politicians who were outside the old Miller organization. When someone dominates an institution for 33 years, inevitably some politicians develop within that organization and others outside it. Miller’s departure created room for people who may never have risen as quickly under the old structure. That’s the biggest point. If Mike Miller’s power had simply transferred to Bill Ferguson, Maryland would still have a machine. If Hoyer’s influence simply transferred to Boafo, Maryland would still have a machine. If every county leader simply took orders from Moore, Maryland would have a machine. None of those things happened. Instead: Moore controls the statewide executive platform. Ferguson controls the Senate. Peña-Melnyk controls the House. Alsobrooks has statewide and federal reach. Braveboy has Prince George’s executive power. Pittman leads the state Democratic Party after Moore encouraged him to seek the role. (The Maryland Democratic Party) Boafo represents the beginning of the post-Hoyer congressional generation. And Baltimore, Montgomery County, organized labor, donors and other county organizations maintain their own centers of influence. That’s not one machine. If you want to understand where Maryland power is moving, don’t simply watch office titles. Watch endorsements. Who does Moore support? Who does Alsobrooks support? Who gets Ferguson’s allies? Who gets House leadership? Who gets Hoyer’s blessing? Who gets labor? Who gets major donors? And most importantly: That is where the new Maryland network becomes visible. The Boafo race was a textbook example. Hoyer’s successor didn’t emerge randomly from 24 candidates. He had ties to the outgoing incumbent and support from the governor. The old network and the emerging one overlapped. And voters chose him. (AP News) Moore may ultimately become the most important person in determining whether Maryland develops another durable statewide political organization. But the test isn’t whether Moore himself remains popular. The test is what happens to the people he supports. Which delegates become senators? Which senators become committee chairs? Which county officials become executives? Which staffers become candidates? Which appointees become statewide leaders? Who gets his donor network? Who gets his political advisers? Who eventually gets his endorsement when Maryland faces a post-Moore gubernatorial succession fight? That’s how we’ll know whether Moore was merely a successful governor— or the founder of another generation of Maryland power. There’s another category worth watching: politicians who came from Miller’s Maryland but remain active in the new one. Dereck Davis is one. Anthony Brown is another. Veteran legislators and former officials throughout the state still possess old relationships that newer politicians don’t. These people can function as bridges. That’s important because political systems rarely reset completely. The new machine usually grows partly from pieces of the old one. Donors don’t disappear. Lobbyists don’t disappear. Operatives don’t disappear. Institutional memory doesn’t disappear. They find new centers of gravity. If you want one name: His overwhelming 2026 Democratic renomination, executive authority, national profile and influence within the Maryland Democratic Party make that difficult to dispute. (WBAL-TV) But saying Moore “runs Maryland” the way Miller once ran the Senate would oversimplify the reality. Maryland power today looks more like this: WES MOORE Statewide organization.Appointments.Fundraising.Executive government.National Democratic relationships. BILL FERGUSON The Senate.Committees.Confirmations.Legislative leverage. JOSELINE PEÑA-MELNYK The House.Committee leadership.Budget and legislative leverage. ANGELA ALSOBROOKS Statewide electoral organization.Federal platform.Prince George’s relationships.National Democratic connections. AISHA BRAVEBOY Prince George’s executive organization.County government.A major Democratic vote base. THE POST-HOYER GENERATION Boafo and the emerging political class that will have to rebuild Hoyer’s Washington-Maryland network rather than simply inherit it. It did something more interesting. Mike Miller’s influence was too personal, too old and too deeply rooted in his own relationships to be inherited whole. Hoyer’s network is too extensive and too intertwined with decades of congressional politics to fit neatly inside one successor. So the pieces are moving. Toward Moore. Toward Ferguson. Toward Peña-Melnyk. Toward Alsobrooks. Toward Braveboy. Toward younger candidates and new county organizations. And toward veteran political survivors who understand both eras. That’s the next chapter of Maryland politics. The person who eventually connects: Annapolis, Prince George’s, Montgomery County, Baltimore, labor, business, donors, the Maryland Democratic Party, and the congressional delegation will possess something Maryland hasn’t truly seen since Miller’s heyday. Not merely another elected official. And maybe that’s why searching for “the next Mike Miller” is the wrong exercise. There may never be another one. The more important question is: Miller spent half a century becoming that person. Hoyer spent decades becoming another version of it. Maryland’s current political leaders are still competing for the privilege. And until somebody actually connects all those pieces, the most accurate answer to the question “Who runs Maryland?” may be the most fascinating one of all: No one does. Not anymore. But there are plenty of people trying. Sources University of Maryland and Maryland Matters — Miller’s 33-year Senate presidency and political legacy. (Behavioral and Social Sciences) Washington Post historical reporting — Miller’s rise from Maryland machine politics and ability to retain power as the Senate evolved. (The Washington Post) Maryland Matters — former top Miller aides who moved into Annapolis lobbying and the changing Senate power structure. (Maryland Matters) Washington Post and Reuters — Hoyer’s January 2026 retirement announcement after more than four decades in Congress and his long Democratic leadership career. (The Washington Post) Associated Press — Adrian Boafo’s 2026 victory in the Democratic primary to succeed Hoyer, including Hoyer and Moore’s support and Boafo’s “pass the torch” remarks. (AP News) Maryland Democratic Party — Steuart Pittman’s official biography stating that he sought the state chairmanship at Moore’s suggestion. (The Maryland Democratic Party) Maryland General Assembly — official 2026 records identifying Bill Ferguson as Senate President and Joseline Peña-Melnyk as Speaker. (Maryland General Assembly) Maryland State Board of Elections — official 2026 Prince George’s County results showing Aisha Braveboy’s dominant County Executive primary victory. (Maryland State Board of Elections) 2026 election reporting — Moore’s overwhelming Democratic gubernatorial primary victory. (WBAL-TV)
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