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Analysis by Chris Cillizza, CNN Editor-at-large

2022-03-16 22:30:47

politics

politics

https://www.cnn.com/2022/03/16/politics/trump-potential-running-mates-2024/index.html

So, who might be Donald Trump's running mate? - CNNPolitics

Donald Trump hasn't announced whether he is going to run for president again in 2024, but he seems to have decided one thing: Mike Pence wouldn't be his running mate.

politics, So, who might be Donald Trump's running mate? - CNNPolitics

So, who might be Donald Trump's running mate?

(CNN)Donald Trump hasn't announced whether he is going to run for president again in 2024, but he seems to have decided one thing: Mike Pence wouldn't be his running mate. "I don't think the people would accept it," Trump said in an interview with the Washington Examiner of making Pence his vice presidential pick again in 2024. "Mike and I had a great relationship, except for the very important factor that took place at the end. We had a very good relationship. I haven't spoken to him in a long time." That should surprise exactly no one who has been paying attention to politics over the past 18 months. Trump has never forgiven Pence for refusing to overturn the election results during the counting of Electoral College votes on January 6, 2021. (There is no constitutional role for Pence to have done that.)Read More Who Trump might pick as his vice presidential nominee is not, however, a purely theoretical discussion. Trump is showing every sign of running for president again, and there's been little to suggest that he would face any serious competition for the nomination.So, who might Trump pick? Let's go through a few of the most obvious options. (While vice presidential nominees are often runners-up for the party's nod, Trump is not the kind of person to forgive and forget. Which means that if any of these people wind up challenging Trump for the GOP nomination in two years, they are likely off the VP list.) * Ron DeSantis: This would be the dream ticket for many MAGA loyalists. The Florida governor is the most liked of the politicians not named "Trump" within the party. And he hails from a large swing state. Only catch? DeSantis has not been as willing to grovel at the prospect of a 2024 Trump candidacy as some other ambitious Republicans have. * Nikki Haley: You can count on one hand the number of people who left the last administration on good terms with Trump. Haley, who served as the United Nations ambassador during the first part of Trump's White House tenure, is one of them. (Since then, their relationship has had its ups and downs.) Plus, as an Indian American woman, she would be a different sort of candidate than Republicans have been nominating in recent elections. * Tim Scott: While the South Carolina senator has been occasionally willing to criticize Trump, he has remained in the former President's good graces. Scott has already said he would endorse Trump if the former President ran again in 2024. And Scott would be a history-making pick as the first Black candidate on a national Republican ticket. * Glenn Youngkin: Sure, Youngkin has only been the governor of Virginia for a few months now. But he proved in the 2021 campaign that there is a way to thread the needle between the party's Trump-loving base and the suburban voters who are turned off by the former President's bombast. Youngkin also discovered an issue -- education and the role parents should play in it -- that could well deliver Republicans the majority in the House and Senate. * Ted Cruz: Remember that Trump loves redemption stories. (He views everything through the lens of TV and ratings -- and a redemption story always draws in the viewers.) What better storyline is there in 2024 than if Trump picks the runner-up in the 2016 primary race who pointedly refused to endorse him at the convention? For people who say Cruz wouldn't accept the VP nomination, I can only assume you have never met the Texas senator.The Point: Given Trump's dominant place within the Republican Party at the moment, the real race in 2024 could be to be his second-in-command.

Analysis by Harry Enten, CNN

2021-12-12 17:12:47

politics

politics

https://www.cnn.com/2021/12/12/politics/midterm-election-2022-republican-wave/index.html

Why the 2022 midterm elections look like the opposite of 2018 - CNNPolitics

Today, everything is different. Pretty much every single indicator that pointed to a Democratic wave in the 2018 midterms now points to a Republican one in the 2022 midterms.

politics, Why the 2022 midterm elections look like the opposite of 2018 - CNNPolitics

Why the 2022 midterms look like the opposite of 2018

(CNN)What a difference four years makes in politics. At this point in 2017, Democrats were about to pull off a stunning Senate win against a very flawed opponent in the deeply red state of Alabama. It was one of many indications that Democrats were on their way to a big 2018 victory.Today, everything is different. Pretty much every single indicator that pointed to a Democratic wave in the 2018 midterms now points to a Republican one in the 2022 midterms.Here are some of those key factors to compare:Generic Congressional BallotStart with the fact that Democrats were up by about nine points in polling for the race for Congress in early December 2017. As it turned out, this was the margin by which they'd win the national House vote in November 2018. Read MoreThe Republicans hold an average two-point advantage on the generic ballot in December 2021. There have only been two midterm cycles since 1938 when Republicans had any lead on this measure at this point. One of those was 2002, when Republicans defied midterm history to gain House seats in the wake of the 9/11 attacks and very high approval ratings for President George W. Bush. The other was 2010 when they were up by two points on the generic ballot at this moment in time and went on to net gain 63 seats. Indeed, there have been ten times since 1938 when the opposition party (i.e. not in control of the presidency) led on the generic ballot this far from a midterm. They would go on to win a majority of seats in the midterm all ten of those times. Presidential Approval A big reason Republicans were struggling in December 2017 was that then-President Donald Trump's average approval rating was at a meager 37%. It was the worst for an elected president about 11 months into his first term.President Joe Biden is not much better with an approval rating of about 42%. His is the second worst approval rating for an elected president at this point in their first term.Neither president was anywhere close to where a president's ratings have been 13 months from the midterms in cycles in which his party gained or lost less than five seats in the House. (Republicans need a net pick up of at least five seats to gain control of the House.)The president's approval rating was between 60% and 84% at this point the three times (1962 cycle, 1998 cycle and 2002 cycle) in the polling era there was this minimal loss or gain for the president's party in a midterm election. Special Elections and Virginia Along with the polling, the special elections similarly point to a very different political environment from 2017. In more than 70 special state legislative and federal special elections through this point in the Trump presidency, Democratic candidates were doing an average of about 10 points better at this time than the 2016 presidential margin in that district or state was.Right now in 2021, Republicans are doing about five points better on average than the 2020 presidential margin in an average of nearly 60 special state legislative and federal special elections during the Biden presidency. While we still have a ways to go until the midterms, we know that the shift from the presidential baseline in special elections has been predictive of the next election. This has been true in midterms since 1994, and a lack of a major change from the 2016 baseline during the special elections in the lead up to 2020 was a major red flag that Republicans weren't as in much trouble as some of the polling indicated. Beyond the special elections, Democrats also did more than 3.5 points better than the 2016 presidential margin in the regularly scheduled 2017 Virginia elections. This was true both in the gubernatorial race and an average of 100 House of Delegate races. Last month, Republicans did over 12 points better than the 2020 presidential margin in the gubernatorial and an average of the 100 House of Delegate races. In doing so, they swept the top of the ticket (governor, lieutenant governor and attorney general) and gained control of the House of Delegates.House RetirementsThe results and polling are a big reason that politicians have or did run for the hills. More than a dozen Republican House members announced they were retiring from public office by early December 2017. Only five Democrats were. Today, 11 House Democrats are retiring from public office at the end of the Congress. Just four Republicans are (excluding Rep. Devin Nunes, who is resigning). Looking at all retirements (including those running for other elected offices, but excluding resignations), 19 Democrats are leaving the House compared to 11 Republicans at the end of the this Congress. In December 2017, it was 23 Republicans to 13 Democrats retiring at the end of that Congress. Retirements are not a perfect indicator of future midterm outcomes, but they're a sign. Elected officials are looking at the same statistics we are. They aren't likely to retire en masse, unless they sense they're going to lose power. That's why the party that has had more elected officials retiring from public office has lost seats in eight of the last 12 midterm cycles since 1974. The Bottom LineThe opposition party has picked up 5 or more seats in 34 of 38 midterms since 1870. Not a lot so far suggests that the 2022 midterms will be any different.

Analysis by Chris Cillizza, CNN Editor-at-large

2022-02-16 15:16:01

politics

politics

https://www.cnn.com/2022/02/16/politics/house-democrats-retirements/index.html

Here's why Democrats' chances of winning in November are slipping - CNNPolitics

House Democrats are retiring in numbers not seen in decades as a dire political outlook, new district lines and a negative environment at the US Capitol have combined into a toxic brew for lawmakers considering their political futures.

politics, Here's why Democrats' chances of winning in November are slipping - CNNPolitics

Here's why Democrats' chances of winning in November are slipping

(CNN)House Democrats are retiring in numbers not seen in decades as a dire political outlook, new district lines and a negative environment at the US Capitol have combined into a toxic brew for lawmakers considering their political futures.On Tuesday, New York Rep. Kathleen Rice became the 30th Democrat to announce plans to not seek re-election in 2022. By comparison, only 13 House Republicans are planning to call it quits or seek higher office."I entered public service 30 years ago and never left," said Rice of her decision. "I have always believed that holding political office is neither a destiny nor a right. As elected officials, we must give all we have and then know when it is time to allow others to serve."The 30 House Democratic retirements are the most for the party since 1992, when a whopping 41(!) Democrats walked away from their seats. If one more House Democrat retires before the election, the 2022 cycle will tie the 1976 and 1978 election cycles as the second most retirements in modern history for the party, with 31. Democrats have already seen more retirements in this cycle than the last two elections combined. Amy Walter, the editor of the Cook Political Report, a non-partisan campaign tip sheet, cites three main reasons for the Democratic exodus. First, she told me the national environment; "it's bad out there for Democrats," she said. Second, the weight of history; "they all know that it's hard for party in White House to pick up seats. They can only afford to lose 5. They can do math." And, finally the "environment" in the Capitol itself; "Talk to any member or staffer and they'll tell you morale is low. It's a combination of January 6th, a lack of civility, plus a frustration with a fact that most legislation is leadership driven instead of member driven."Read More THE POINT -- NOW ON YOUTUBE! In each episode of his weekly YouTube show, Chris Cillizza will delve a little deeper into the surreal world of politics. Click to subscribe! "I think it's a direct result of the malaise on Capitol Hill," said former New York Rep. Steve Israel, who previously ran the party's House campaign committee. "Most Members decide to retire when they calculate that they might lose their next election. These days people are deciding to retire when they're confident they will win."Regardless of the reasons, the reality is that this rate of Democratic retirements begins to feed on itself at some point. If you are a Democratic member on the fence about running again and see a number of your colleagues deciding to end their political careers, that has to impact your own thinking. The more retirements there are, the easier it is for any one member to walk away. And that sort of snowball effect is what we've seen in recent weeks, with Democratic retirements coming hot and heavy.The 10 Senate seats most likely to flip in 2022And we know from history that open seats -- those without an incumbent running -- are more likely to flip parties than seats where the incumbent is seeking re-election.There is a solid -- if not perfect -- correlation between high retirement levels and House seat losses. In 1992, for example, Republicans netted 10 House seats in the general election, according to Brookings' Vital Statistics on Congress. In 1978, the Republican gain was 15. In 1976, however, Democrats actually gained a seat despite the 31 retirements from within their ranks.Democrats' issues are compounded by the fact that Republicans have kept their own retirements very low. If no other House Republican walks away this year, the 13 calling it quits will be the party's lowest total since 1988. Add it up and you see LOTS of Democratic vulnerability and very little Republican danger.According to the Cook Political Report's rankings, there are 38 competitive Democratic-held seats compared to just 19 Republican-held seats. With the House Democratic majority so thin, that disparity in competitive seats is a very ominous omen for Democrats' chances this fall.The simple fact is this: Democrats see the writing on the wall. Many are opting to retire rather than either lose a reelection bid or become a member of the minority party in the House in January 2023. And that is causing a vicious cycle that further narrows Democrats' chances this November.

Clare Foran and Annie Grayer, CNN

2022-01-25 20:00:42

politics

politics

https://www.cnn.com/2022/01/25/politics/jim-cooper-retirement/index.html

Tennessee lawmaker becomes latest House Democrat not to seek re-election - CNNPolitics

Democratic Rep. Jim Cooper of Tennessee announced Tuesday that he will not run for reelection, becoming the latest House Democrat to head for the exits as the party faces an uphill battle to retain control of the chamber in the 2022 midterms.

politics, Tennessee lawmaker becomes latest House Democrat not to seek re-election - CNNPolitics

Tennessee lawmaker becomes latest House Democrat not to seek reelection

(CNN)Democratic Rep. Jim Cooper of Tennessee announced Tuesday that he will not run for reelection, becoming the latest House Democrat to head for the exits as the party faces an uphill battle to retain control of the chamber in the 2022 midterms."Today I am announcing that I will not run for re-election to Congress. After 32 years in office, I will be leaving Congress next year," Cooper tweeted."I cannot thank the people of Nashville enough. You backed me more than almost anyone in Tennessee history," he said.The Tennessee Democrat is a member of the centrist Blue Dog Coalition and serves on the House Committee on Armed Services as well as the committees on Oversight and Reform and Budget.Cooper represents the state's Fifth Congressional District, which covers the city of Nashville as well as other counties and outlying areas.Read MoreCNN reported in July that Republicans were considering breaking up Cooper's district, which could help them gain another crucial seat in the House.In an interview at the time, Cooper acknowledged that Republicans could effectively decide his political fate and warned that they may weaken Nashville's influence in Washington."They couldn't beat me fairly," Cooper told CNN. "So, now they're trying to beat me by gerrymandering."In a longer statement released on Tuesday, Cooper said, "Despite my strength at the polls, I could not stop the General Assembly from dismembering Nashville. No one tried harder to keep our city whole. I explored every possible way, including lawsuits, to stop the gerrymandering and to win one of the three new congressional districts that now divide Nashville."But, he continued on to say, "there's no way, at least for me in this election cycle, but there may be a path for other worthy candidates."Cooper said that he decided to announce his decision "promptly so that others have more time to campaign." He also said that he plans to return individual contributions he has received "for this race so that donors can redirect them as they choose." This story has been updated with additional developments Tuesday.CNN's Alex Rogers contributed to this report.

Veronica Stracqualursi, CNN

2022-01-18 19:03:28

politics

politics

https://www.cnn.com/2022/01/18/politics/jim-langevin-jerry-mcnerney-retirements/index.html

Two long-serving Democratic congressmen announce they won't seek reelection in 2022 - CNNPolitics

Long-serving Democratic Reps. Jim Langevin of Rhode Island and Jerry McNerney of California announced Tuesday that they will not be seeking reelection in November, joining the more than two dozen House Democrats planning to retire after this term of Congress.

politics, Two long-serving Democratic congressmen announce they won't seek reelection in 2022 - CNNPolitics

Two long-serving Democratic congressmen announce they won't seek reelection in 2022

(CNN)Long-serving Democratic Reps. Jim Langevin of Rhode Island and Jerry McNerney of California announced Tuesday that they will not be seeking reelection in November, joining the more than two dozen House Democrats planning to retire after this term of Congress.McNerney, who has served since 2007, announced that he will not run for another term in Congress, pointing to California's newly-drawn 9th congressional district. "Today I am announcing that I will not seek reelection in California's newly created 9th Congressional District," he wrote on Twitter. "I am honored that the citizens of California's 9th Congressional District chose me as their representative in the past five elections, and that those in California's previous 11th Congressional District gave me the privilege of representing them for three terms."Instead, Democratic Rep. Josh Harder of California announced Tuesday he would run for the seat. McNerney is one of many House Democrats to announce they won't run for reelection following the once-a-decade redistricting process. California's redistricting commission last month formally approved the state's new congressional map, which still favors Democrats but could create an opportunity for Republicans in the newly created 9th District that encompasses Stockton and San Joaquin county. Rhode Island has yet to finalize its congressional map. Read MoreIn a column for The Providence Journal, Langevin, who has served more than two decades in Congress, said he did not "come to this decision lightly, but it is time for me to chart a new course, which will allow me to stay closer to home and spend more time with my family and friends."Langevin, first elected to Congress in 2000, became the first quadriplegic to serve in the US House. In 2010, he became the first person in a wheelchair to preside over the House of Representatives on the 20th anniversary of the Americans with Disability Act.As a 16-year-old, Langevin was left paralyzed after a gun accidentally discharged and a bullet struck him, while he was working with the Warwick Police Department as part of the Boy Scout Explorer program, according to his congressional biography.Langevin has also authored and backed cybersecurity legislation. He currently serves as the chair of the House Armed Services' subcommittee on cyber and co-founded the Congressional Cybersecurity Caucus in 2008. He also co-chairs the Bipartisan Disabilities Caucus, among other caucuses.McNerney is a member of the Energy and Commerce Committee and the Science, Space and Technology Committee. He was the main sponsor of the Consumer Safety Technology Act, which would require agencies explore the use of AI to help with consumer safety and study the potential use of blockchain technology.Langevin and McNerney are at least the 27th and 28th House Democrats to announce they won't seek reelection, as their party fights to maintain their slim majority in Congress in the 2022 midterm elections.Several high-profile Democrats, including Reps. Peter DeFazio, Jackie Speier, and Bobby Rush, already announced their intentions to leave Congress and retire after this session.This story has been updated. CNN's Morgan Rimmer and Melissa DePalo contributed to this report.

Melissa Holzberg DePalo and Morgan Rimmer

2022-01-12 22:21:00

politics

politics

https://www.cnn.com/2022/01/12/politics/trey-hollingsworth-republican-house-retirements/index.html

GOP Rep. Trey Hollingsworth announces he won't seek reelection to Indiana seat - CNNPolitics

GOP Rep. Trey Hollingsworth of Indiana announced on Wednesday he will not seek a fourth term in November, becoming the 12th House Republican to say he won't run for reelection.

politics, GOP Rep. Trey Hollingsworth announces he won't seek reelection to Indiana seat - CNNPolitics

GOP Rep. Trey Hollingsworth announces he won't seek reelection to Indiana seat

(CNN)GOP Rep. Trey Hollingsworth of Indiana announced on Wednesday he will not seek a fourth term in November, becoming the 12th House Republican to say he won't run for reelection. "I ran for Congress to return this government to the people from the career politicians who had broken it, and I will be damned if I become one in the process," Hollingsworth wrote in an op-ed in the Indianapolis Star.First elected in 2016, he had pledged to serve no more than four terms."I want to be the change I want to see in this world, so, as I contemplate how I can work for you in new and better ways in the future, I won't run for reelection this year," Hollingsworth wrote. "You deserve a Member of Congress totally and completely focused on the 9th District, and, though I have remained committed to that promise these three terms, now I will fight for you and us in different ways."Hollingsworth sponsored a constitutional amendment last year to limit members of the House to four terms and senators to two terms.Read MoreOverall, 38 House members have now announced they won't be seeking another term in 2022, when many lawmakers will be running in altered congressional districts thanks to redistricting. But the members who have so far announced their retirements include more than twice as many Democrats as Republicans, including long-serving Democratic members and committee chairs. Those departures underscore what could be fears about a tough midterm election year and the prospects of severing in the minority if Republicans win the majority. Rep. Ed Perlmutter of Colorado became the latest House Democrat to announce his retirement on Monday. Eleven of the those 38 members not seeking reelection -- six Democrats and five Republicans -- are running for Senate or governor.

Shawna Mizelle, CNN

2022-01-05 04:14:46

politics

politics

https://www.cnn.com/2022/01/04/politics/brenda-lawrence-democratic-house-retirements/index.html

Rep. Brenda Lawrence adds to growing number of House Democrats to announce retirement - CNNPolitics

Democratic Rep. Brenda Lawrence of Michigan announced on Tuesday that she will not seek reelection to the House this year, becoming the 25th House Democrat to announce she's leaving at the end of this term.

politics, Rep. Brenda Lawrence adds to growing number of House Democrats to announce retirement - CNNPolitics

Rep. Brenda Lawrence adds to growing number of House Democrats retiring at end of this term

(CNN)Democratic Rep. Brenda Lawrence of Michigan announced on Tuesday that she will not seek reelection to the House this year after four terms representing Michigan's 14th District, becoming the 25th House Democrat to announce they're leaving at the end of this term. "Today, after reflecting on my journey -- and oh, my goodness, what a journey -- and having conversations with my family, I am announcing that I will not be seeking reelection to Congress," Lawrence said in a video posted to Twitter. "I'm incredibly grateful for the people of Michigan's 14th Congressional District who have placed their trust and vote in me -- in me, just a little Black girl from the east side of Detroit, you made me your congresswoman."Her announcement adds to a growing list of Democrats who have recently said they won't runn for reelection in November's midterms. Rep. Bobby Rush of Illinois told the Chicago Sun-Times in an interview published Monday that he won't run for a 16th term. Democrats face strong headwinds for retaining their slim majority in both chambers of Congress, and Republicans see President Joe Biden's sagging approval numbers as an opportunity for the midterms.'We have got a problem here': Low morale and redistricting hand Democrats a growing retirement issueMany lawmakers are also facing new congressional maps after the once-a-decade redistricting process. Lawrence is the 36th member from either party to announce they'll be leaving the House at the end of the term. That includes 11 members -- six Democrats and five Republicans -- who are running for Senate or governor.Lawrence, first elected in 2014, referenced redistricting in her Tuesday remarks. "As we have a new redistricting map, a new generation of leaders will step up. We need to make sure our elected officials, in Michigan and across this country, look like our communities," she said."It is not lost on me that I'm currently the only Black member of the Michigan congressional delegation -- in both the US House and Senate. So, whether it's in the halls of Congress, city halls or local school boards, representation matters," she added.Read MoreLawrence, the co-chair of the Democratic Women's Caucus, was the first Black person and the first woman to be elected mayor in the city of Southfield, Michigan, according to her congressional biography. The Michigan congresswoman promised to fight to "pass laws to protect our voting rights, women's rights and to protect our environment" during the remainder of her tenure, and while she did not expound on her future plans, she said that "service to my community, service to my country" will continue to be her "guiding light." Chris Cillizza and Annie Grayer contributed to this report.

Dan Merica, CNN

2021-12-20 20:50:02

politics

politics

https://www.cnn.com/2021/12/20/politics/house-democrats-retirements-2022/index.html

Democratic retirements: Low morale and redistricting hand the party a growing problem - CNNPolitics

There is a growing sense of gloom among Democrats in the House. And every week or so, when another Democratic member of Congress announces they won't run for reelection in 2022, the mood inside the caucus worsens.

politics, Democratic retirements: Low morale and redistricting hand the party a growing problem - CNNPolitics

'We have got a problem here': Low morale and redistricting hand Democrats a growing retirement issue

(CNN)There is a growing sense of gloom among Democrats in the House. And every week or so, when another Democratic member of Congress announces they won't run for reelection in 2022, the mood inside the caucus worsens.Morale in the House is already markedly low, but as Democrats look ahead to what could become a trying midterm election cycle, the overwhelming belief is that the wave of retirements has yet to crash.That was captured on Monday when two Democratic members announced they would not seek reelection in November.The Democratic retirement floodgates just burst openFirst was Florida Rep. Stephanie Murphy, who announced she would not seek reelection after three terms in the House. She stated that her time in office was both "the honor of my life" and "incredibly challenging for my family and me," but her decision comes as the Republican-led legislature in Florida has taken interest in redrawing the district she represents, a move that would have made it harder for the Democrat to hold onto the Orlando-area seat.Then came California Rep. Lucille Roybal-Allard, who said in a statement Monday night that "after thirty years in the House of Representatives, the time has come for me to spend more time with my family."Read MoreAnd then on Tuesday morning, House Speaker Nancy Pelosi confirmed New Jersey Democratic Rep. Albio Sires would also retire.So far, 23 members of the House Democratic Caucus have announced they will not seek reelection. While it is common for the party in control to see a series of high-profile retirements ahead of a difficult midterm cycle, the sentiment inside the caucus is that even more departures are likely. A combination of political winds tilting toward Republicans, redistricting boxing some members out of easier races and an overall low morale among House members could lead to even more retirements in the coming months."We have got a problem here," retiring Rep. Cheri Bustos said of the general morale inside the House. "There are way too many people serving as members of Congress right now who I not only don't look up to, I have zero respect for. And I'm saddened to have to say that."Bustos, who was first elected in 2012 and represents western Illinois, announced she was retiring earlier in the year and told CNN that she was looking for "a new chapter in her life." But it's clear that the current standing of Congress loomed over the decision. Bustos said that while she believes some Democrats aren't "team players" -- she did not name names -- the bulk of her concerns are with Republicans, and the prospect of turning over power to the GOP in 2022 is disturbing for all Democrats in Congress."When you've only got a three- or four-vote majority and you see people who are in tough districts announcing that they're not running for reelection, yeah, everybody worries about what's ahead," said Bustos, the former chair of House Democrats' campaign arm.Republicans have also had some noteworthy retirements. Texas Rep. Kevin Brady, the top Republican on the powerful Ways and Means Committee, announced earlier this year that he would not run for reelection, and California Rep. Devin Nunes announced last week that he would be leaving the House to become CEO of the Trump Media & Technology Group.Pelosi will stay around to lead House Democrats through the next election -- and perhaps beyondBut retirements are a problem Democrats, as the party in power, particularly can't afford. The party has a slim majority in the House and with polls showing Republicans are overall in a better position to win congressional races next year, any slight change -- like an unexpected retirement in a swing seat -- could prove costly.Democratic members are aware of the party's current standing on the generic ballot, a survey question that asks respondents if they would be more likely to vote for Democrats or Republicans and often serves as a leading indicator of who will do better in the subsequent midterms. The fear is that members considering retirement may factor in those polls as they finalize their decision in the coming weeks.The bigger issue, according to Jesse Ferguson, a veteran Democratic operative who previously worked at the Democratic Congressional Campaign Committee, is that retirements "absolutely effect the psyche of the caucus" because members who are staying "evaluate these retirements based on their frame of reference inside the caucus, not based on the political implications of this open seat in the midterms."'A 2010 kind of problem'Retirements pose a problem for the party in power because time and money are finite resources, and retirements in competitive seats often require the party to expend both in a race they had not anticipated. First, the party must help recruit a candidate in the district, hoping to do whatever they can to make up for the name recognition that the retiring incumbent had. Second, the party's campaign committees will have to spend money for that candidate -- a figure that is almost always significantly more than they would have spent on an incumbent.And Democratic retirements are stacking up.Earlier this month, Democratic Rep. Peter DeFazio of Oregon announced he would not seek reelection, leaving behind his powerful chairmanship of the Transportation and Infrastructure Committee.Earlier this year, Texas Rep. Eddie Bernice Johnson announced she would not seek reelection, departing her role as chair of the Space, Science and Technology Committee. And Kentucky Rep. John Yarmuth, chair of the Budget Committee, also said he won't see reelection in 2022.'A 50-50 Senate sucks': Dejected Democrats fret over agenda failure amid grim 2022 outlook But the problem extends far beyond powerful committee chairs and includes some districts that will be difficult for Democrats to hold in a tough year.Wisconsin Rep. Ron Kind, one of few Democrats who represents a district that voted for former President Donald Trump in 2016 and 2020, announced earlier this year he wouldn't run again, opening a seat in an area Republicans are confident they could win. Arizona Rep. Ann Kirkpatrick was the first congressional Democrat to announce she would not seek reelection in March, vacating the Arizona's 2nd Congressional District, which was represented by a Republican before she won in 2018. And New York Rep. Tom Suozzi recently announced he would run for governor and not seek reelection in his Long Island district, which could be competitive if Democrats face a particularly difficult cycle.Each retirement has been cheered by Republicans."Every Democratic retirement demoralizes their party further and forces Democrats to spend precious resources defending competitive seats," said Michael McAdams, spokesman for the National Republican Congressional Committee. "No one wants to run as a House Democrat this cycle."So far, Democratic leaders -- at least publicly -- are rejecting the idea that Democrats have a retirement problem."It's pretty standard stuff," Sean Patrick Maloney, the chair of the Democratic Congressional Campaign Committee, told CNN's Manu Raju. "Anybody who serves in this Congress knows that these are personal decisions. No, I'm not that worried about it. I think the Republicans are still going to have to have at least one good idea for America. They can't do it with tricks and stacking the deck."Democrats walk on eggshells around Breyer as GOP plans another blockade for any Biden Supreme Court pickBut there is a sense inside the caucus that things have not been as rosy as Maloney and others would like people to believe.Rep. Filemón Vela, a Texas Democrat who announced earlier in the year that he would not seek reelection, said he is confident the party will do fine in the midterms "if we've got control of inflation and Covid by the summer of next year.""I'm not going to say we keep the majority because it is tight both ways," he said. "But if next November comes around and we're still in the middle of the Covid crisis and inflation is through the roof then, yeah, we've got a big problem."After a pause, Vela -- who said he was retiring because he "wanted to do something else" -- added that if those issue continue to pester Democrats, "you've got a 2010 kind of problem," referencing the midterm election when Democrats lost 63 seats."It's a valid concern," Vela said of worries about retirements. "If we'd been in the middle of midterms last month, I think even seats like mine could have gotten lost. But I don't think that is going to happen next year."'We haven't hit Christmas yet'One of the reasons for gloom inside the Democratic caucus is that many of the members have experienced this trend before. In 2010, two years after President Barack Obama was elected, both parties had to deal with retirements -- 17 for Democrats, compared to 20 for Republicans. But voters still dealt a stinging blow to Democrats and vaulted Republican into power with a 63-seat shift."In 2010, it was far worse than anything since because several of those retirements came from overwhelmingly Republican districts that Democrats really couldn't compete for once the incumbents had retired," said Ferguson. Ferguson added that one reason these retirements -- along with some of this year's -- are particularly powerful is because they came from districts that became remarkably difficult for Democrats to defend."Not all retirements are equal, and retirements from seats you are unlikely to hold are the worse retirements," said Ferguson, who said a silver lining for the party is that only a few of the retirements this year have come in highly competitive districts.Retirements hit Republicans hard in 2018, with the party having to deal with a substantial 37 departures. Republicans at the time worried the figure presaged numerous defeats just two years after Trump took office. And they were right. Democrats would take back the House in 2018, dealing a blow to Trump and Republican control of Washington. "The biggest problem is the surprise and the uncertainty. You know the competitive seats, two years before Election Day -- or at least most of them," said Matt Gorman, the top communications operative at the National Republican Congressional Committee during the 2018 midterms. "When these pop up, often times, they are putting you in a worse spot than you were before. And it sucks up time and finding candidates to run and money."Gorman, like other political watchers, thinks Democrats' retirement problem is about to grow. "We haven't hit Christmas yet," he said, describing how destabilizing it was when GOP Rep. Darrell Issa -- who is now back in Congress -- announced he would not seek reelection in early January of 2018. "That's the time. You do it right after the holidays after you take about it with your family."This story has been updated with additional developments.

Analysis by Chris Cillizza, CNN Editor-at-large

2021-12-20 23:30:22

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politics

https://www.cnn.com/2021/12/20/politics/retirements-house-democrats-murphy-sires-lowenthal/index.html

The Democratic retirement floodgates just burst open - CNNPolitics

Florida Rep. Stephanie Murphy announced Monday that she will not seek a fourth term in Congress, the latest in a rapid series of retirements within the Democratic ranks that suggest momentum is moving heavily against the party as it seeks to hold on to its razor-thin majority next November.

politics, The Democratic retirement floodgates just burst open - CNNPolitics

The Democratic retirement floodgates just burst open

(CNN)Florida Rep. Stephanie Murphy announced Monday that she will not seek a fourth term in Congress, the latest in a rapid series of retirements within the Democratic ranks that suggest momentum is moving heavily against the party as it seeks to hold on to its razor-thin majority next November.Murphy's decision came less than 24 hours after New Jersey Rep. Albio Sires said he would be retiring at the end of this Congress. And, just before the Sires' news, California Rep. Alan Lowenthal said he, too, would be stepping aside. All together, there are now 22 Democrats retiring or running for other offices this election cycle as opposed to just 11 Republicans doing the same.Two years ago, just nine Democrats had announced their retirement plans at this point of the election while 24 Republicans had done the same, according to CNN's political unit.While there will always be some amount of attrition in a chamber as large as the House, the "who" is leaving should worry Democrats.Read MoreTake Murphy. She is widely regarded as a rising star within the party and was expected to run for Senate in 2022 until fellow Rep. Val Demings (D) got into the race against Sen. Marco Rubio (R). THE POINT -- NOW ON YOUTUBE! In each episode of his weekly YouTube show, Chris Cillizza will delve a little deeper into the surreal world of politics. Click to subscribe! Her 7th District has been targeted by state House Republicans in the Florida redistricting process but it was not yet clear what the final seat would look like. Without Murphy in the race, Republican map-makers will likely work to make the seat considerably more friendly to their side.Losing a member like Murphy -- a prodigious fundraiser and a talented campaigner -- is always a blow but more so in an election like this one where Democrats are clinging to their majority. Ditto retirements of powerful chairs like John Yarmuth (Budget Committee) and Eddie Bernice Johnson (Science, Space and Technology Committee).When these sorts of members walk away -- either from powerful posts or promising careers -- it send a very clear signal to every single member of the Democratic caucus: Things are bad, I don't see them getting better and now's the time to head for the hills.And that message, of course, has a snowball effect as other members wondering about whether to run again see that their colleagues have concluded now is the time to go and jump ship themselves.The Point: House Democratic leaders have worked desperately to avoid a rush to the exits from within their ranks. It appears they have failed.

Analysis by Chris Cillizza, CNN Editor-at-large

2021-11-16 23:30:44

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politics

https://www.cnn.com/2021/11/16/politics/senate-retirements-democrats-leahy-speier/index.html

The drip, drip, drip of Democratic retirements  - CNNPolitics

On Monday, Vermont Democratic Sen. Patrick Leahy announced that he would leave Congress when his eighth term expires at the end of 2022.

politics, The drip, drip, drip of Democratic retirements  - CNNPolitics

The drip, drip, drip of Democratic retirements 

(CNN)On Monday, Vermont Democratic Sen. Patrick Leahy announced that he would leave Congress when his eighth term expires at the end of 2022.On Tuesday, California Democratic Rep. Jackie Speier said she would retire next year after almost 15 years in Congress.Neither seat should be a problem for Democrats to hold. Vermont went for President Joe Biden by 35 points in 2020 -- his largest margin anywhere in the country. And Speier's Bay Area 14th District gave Biden a whopping 89% of the vote last November.The bigger issue for Democrats then is not keeping those seats on their side. It's that a steady drumbeat of retirements from within their ranks -- especially in the holiday period leading up to Thanksgiving and then Christmas -- is not at all what they want as they try to hold onto their slim majorities in the House and Senate. Congress is like high school. Everyone is looking around to see what everyone else is doing -- and then adjusting their behavior accordingly.Read MoreThat doesn't mean that a Democratic member who has never considered retirement will see the likes of Leahy leaving and think now is the time to go.But, for members who are undecided about whether or not to go for another term, retirements from within the Democratic ranks can impact their thinking. If it feels like a lot of people are deciding to walk away, there is often a momentum effect that sweeps up on-the-fence members. THE POINT -- NOW ON YOUTUBE! In each episode of his weekly YouTube show, Chris Cillizza will delve a little deeper into the surreal world of politics. Click to subscribe! And lots of those undecided members will be making go/no-go decisions in the next few weeks. As The Washington Post's Paul Kane noted last month:"The holiday season, from Thanksgiving through Christmas and into the new year, serves traditionally as a gut-check moment for lawmakers."From 2011 through 2020, the final two months of the off year and January of the election year have prompted the most retirement announcements for members of the House, according to data compiled by Ballotpedia."Which is why Democrats have to hope that tomorrow -- or the rest of this week -- doesn't bring any more retirement announcements.The Point: Politics is a copycat business -- right down to the decision of when to retire. Democratic leaders need to make staying in Congress look as good as possible these next few weeks.CORRECTION: An earlier version of this story wrongly described Rep. Jackie Speier's congressional seat in one instance. Speier is a member of the House of Representatives.

Kelly Mena, CNN

2022-03-11 22:42:12

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politics

https://www.cnn.com/2022/03/11/politics/harris-county-primary-2022-mail-in-ballot-rejections/index.html

New voting law leads to the rejection of nearly 1 in 5 mail-in ballots in Houston area, election officials say - CNNPolitics

Thousands of mail-in ballots were rejected in Texas' most populous county for the March primary because they did not meet requirements set by the state's new voting law passed last year by the Republican-led state legislature, according to Houston-area election officials.

politics, New voting law leads to the rejection of nearly 1 in 5 mail-in ballots in Houston area, election officials say - CNNPolitics

Nearly 1 in 5 mail-in ballots in Houston area were rejected because of Texas voting law, election officials say

(CNN)Thousands of mail-in ballots were rejected in Texas' most populous county for the March primary because they did not meet requirements set by the state's new voting law passed last year by the Republican-led state legislature, according to Houston-area election officials. Harris County election officials on Friday announced that of the 36,878 mail ballots received for the March 1 primary, a total of 6,888, or 19%, were rejected "as a direct result of Senate Bill 1." Under the law, voters had to include a Texas identification number or a partial Social Security number when returning their mail-in ballots. However, the identification number used must match one of the numbers on the voter's registration record. Officials noted that the mail ballots were flagged for rejection "specifically due to ID issues."The rejection rate is a significant jump from previous years. In 2018, Harris County rejected only 135 mail-in ballots of a total of 48,473 received, officials said in a news release. For comparison, fewer than 1% of mail-in ballots -- or about 8,300 ballots statewide -- were rejected in Texas in the 2020 election, according to the US Election Assistance Commission. Read MoreThe Harris County election office was also inundated with calls from voters due to the confusion and frustration surrounding the new ID requirements. Officials said that since January, the call center received 8,000 calls from people asking for help navigating the voting process -- which was higher than the monthly call volume in the lead up to the November 2020 and November 2021 elections. Officials said the elections office doubled its staff in order to help voters navigate the new rules, including sending voters a letter on how to fix their ballots so they would be counted. "Nearly 20% of votes cast by mail were not counted as a result of SB1. That's 6,888 registered voters who were silenced. These restrictive voting laws continue to undermine our efforts to expand voter access and will have repercussions for many elections to come," said Isabel Longoria, Harris County elections administrator.Earlier this week, Longoria, who has overseen elections in the county since 2020, announced her resignation amid a mail-in ballot counting discrepancy in Election Night results. She said her resignation would be effective July 1.Meanwhile, in Travis County, home to the state capital of Austin, the rejection rate was 8%, or 948 mail-in ballots were rejected of a total 10,656, according to Victoria Hinojosa, a spokeswoman in the election office. Hinojosa previously told CNN that the county's rejection rate in 2018 was about 2%. Because of the rejection rates, the office of Secretary of State John Scott said it would focus on voter education outreach efforts on the new mail-in voting requirements, spokesman Sam Taylor said."While in years past we have focused our voter education efforts on in-person ID requirements, this year we are also devoting a significant portion of our voter education campaign to enhancing awareness of the new mail-in ballot ID requirements," Taylor said. "We are confident we have the data and research we need to apply any lessons learned during the primary to an even more robust voter education campaign heading into the November General Election."Following reports of the high rejection rates, voting rights advocates called again for federal voting rights legislation. "The federal Voting Rights Act must be restored to ensure that every voter in Texas ... has equal access to the ballot box and is protected from unfair laws and practices that make it harder for people to vote," said Grace Chimene, president of the League of Women Voters of Texas, in a statement to CNN. "It is a tragedy for our democracy when state leaders choose to support a partisan agenda instead of voters when writing state election law resulting in a massive rejection of vote-by-mail ballots," Chimene added.This story has been updated with additional details Friday.

Eric Bradner and Rachel Janfaza, CNN

2022-03-03 00:03:15

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politics

https://www.cnn.com/2022/03/02/politics/cuellar-cisneros-texas-28th-district-runoff/index.html

Cuellar and Cisneros will advance to runoff in Texas' 28th Congressional District, CNN projects - CNNPolitics

Texas Democratic Rep. Henry Cuellar and progressive challenger Jessica Cisneros will advance to a May runoff after a neck-and-neck primary race that saw both finish below the 50% threshold necessary to secure the nomination outright, CNN projected Wednesday.

politics, Cuellar and Cisneros will advance to runoff in Texas' 28th Congressional District, CNN projects - CNNPolitics

Cuellar and Cisneros will advance to runoff in Texas' 28th Congressional District, CNN projects

Laredo, Texas (CNN)Texas Democratic Rep. Henry Cuellar and progressive challenger Jessica Cisneros will advance to a May runoff after a neck-and-neck primary race that saw both finish below the 50% threshold necessary to secure the nomination outright, CNN projected Wednesday. Cuellar is the most conservative Democrat in the US House -- the only member of his caucus to oppose abortion rights, casting votes that have infuriated many in his party. Cisneros, an immigration lawyer, nearly ousted Cuellar in a 2020 primary. Weeks ahead of their rematch, Cuellar's house was searched by the FBI, which Cisneros used in television ads to cast Cuellar as corrupt. The congressman has denied any wrongdoing. Ken Paxton and George P. Bush will advance to May runoff in Texas attorney general primary, CNN projects While Cisneros campaigned aggressively, Cuellar largely dropped off the trail, relying on TV ads and direct mail pieces that emphasized his experience and Laredo roots. A third candidate, Tannya Benavides, an organizer in South Texas who sought to position herself outside the progressive-versus-conservative frame, won nearly 5% of the vote -- enough to hold both Cuellar and Cisneros below the 50% threshold needed to avoid a runoff.While Cuellar and Cisneros are both from Laredo, the race split along geographic lines: Counties closer to San Antonio overwhelmingly supported the more progressive Cisneros, while Cuellar was dominant along the border.Read MoreHis strong performance in the Rio Grande Valley offered a window into Democrats' struggle with Latino voters, many of them more culturally conservative than the Democratic Party overall. Though Democrats have long led Republicans with those voters, President Joe Biden's poor performance in portions of South Texas and South Florida in 2020 compared to Democrats in previous elections was enough to alarm the party.Cisneros was widely supported by progressive organizations and leading figures on the left, including Vermont Sen. Bernie Sanders and New York Rep. Alexandria Ocasio-Cortez. Cuellar, though, is a political institution in South Texas. He served in the state House starting in 1987, then, briefly, as Texas secretary of state in 2001. In 2004, after he narrowly defeated a sitting Democratic lawmaker in the primary, he won his seat in Congress.Mail-in voting woes cast a shadow over Texas primaryHis performance in Webb County, the vote-rich home of Laredo, underscored how difficult he will be to oust in May despite the cloud of the FBI investigation and his decision to mostly avoid in-person campaign events. "We are ready to keep going," he said in the statement. "I look forward to once again winning the majority of voters and come May 24th, be re-elected as the Democratic Nominee for Congress."Cisneros, at a campaign party Tuesday night in Laredo, vowed to win in May. "Today, we proved just how powerful our movement is and are ready to keep fighting for the future we deserve," she said in a Tuesday night statement. "Together, we will take control back from Big Oil, private prisons, and Wall Street, and put it back where it belongs: with the people."This story has been updated with additional background.

Melanie Zanona and Ashley Killough, CNN

2022-03-02 22:21:42

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politics

https://www.cnn.com/2022/03/02/politics/van-taylor-texas-primary-reelection/index.html

Texas Republican lawmaker Van Taylor suspends campaign after admitting to affair - CNNPolitics

Republican Rep. Van Taylor of Texas suspended his reelection campaign Wednesday after admitting to an extra-marital affair, which he called the "greatest failure" of his life.

politics, Texas Republican lawmaker Van Taylor suspends campaign after admitting to affair - CNNPolitics

Texas Republican lawmaker suspends campaign after admitting to affair

(CNN)Republican Rep. Van Taylor of Texas suspended his reelection campaign Wednesday after admitting to an extra-marital affair, which he called the "greatest failure" of his life.His decision to drop his bid for another term in Congress comes one day after Taylor was forced into a runoff for the GOP nomination, having failed to garner more than 50% of the vote in the primary."About a year ago, I made a horrible mistake that has caused deep hurt and pain among those I love most in this world. I had an affair, it was wrong, and it was the greatest failure of my life," Taylor said in an email to supporters."I want to apologize for the pain I have caused with my indiscretion, most of all to my wife Anne and our three daughters."Allegations of Taylor's infidelity surfaced in right-wing media days before Tuesday's primary. On Tuesday evening, he was forced into a May runoff with Keith Self, a former Collin County judge.Read MoreSince 2019, Taylor has represented Texas's 3rd District, which includes the suburbs of Dallas."I have let down so many other family members, friends, colleagues, supporters, and the people of the 3rd Congressional District whom I have had the great honor and privilege to represent. I am truly sorry, and I hope in time I can earn their forgiveness," Taylor continued in the statement."I have talked with Keith Self to let him know of my decision, and I wish him the best as he seeks to become the next congressman for this district."Taylor has until March 16 to file a request with Texas GOP Chairman Matt Rinaldi to withdraw his name from the runoff. Once that happens the second-place candidate -- whom CNN has projected will be Self -- will become the nominee and the primary runoff election for the office will not be held. Self issued a statement acknowledging Taylor's decision and saying he respected it."We debate competing ideas and we learn about our leaders' ideas and their character," Self said. "We also hold them accountable. Conservatives who believe family values are the backbone of our nation are held to a high standard."This story has been updated with additional developments Wednesday.CNN's Ethan Cohen contributed to this report.

Eric Bradner, CNN

2022-03-02 07:41:33

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politics

https://www.cnn.com/2022/03/02/politics/texas-2022-primary-election-takeaways/index.html

6 takeaways from the Texas primaries - CNNPolitics

Two of the biggest names in Texas politics could be headed to overtime in their efforts to fend off primary challengers.

politics, 6 takeaways from the Texas primaries - CNNPolitics

6 takeaways from the Texas primaries

Laredo, Texas (CNN)Two of the biggest names in Texas politics could be headed to overtime in their efforts to fend off primary challengers.Texas kicked off the nation's 2022 midterm election calendar Tuesday, holding the nation's first primaries. Republican Gov. Greg Abbott easily defeated two vocal but poor-performing rivals and is now set for a marquee battle with Democrat Beto O'Rourke, the former congressman, in the fall, per CNN projections.But down-ballot, the primary fireworks aren't over yet: Texas requires candidates to top 50% in order to advance directly to the general election. Otherwise, the top two primary finishers square off in a head-to-head runoff in May. CNN projected that embattled Attorney General Ken Paxton will face a runoff against state Land Commissioner George P. Bush, the latest member of the Bush family's political dynasty to emerge in Texas politics. Paxton's failure to reach the 50% threshold was the only negative mark on Tuesday for former President Donald Trump, whose slate of endorsed candidates largely cruised in GOP primaries. And the Democratic primary in Texas' 28th District -- between Rep. Henry Cuellar, the party's most conservative member of the US House, and progressive challenger Jessica Cisneros -- was still undecided as of early Wednesday morning. Read MoreHere are six takeaways from the Texas primaries: Governor's race is setTexas is set for a heavyweight match-up between Abbott, a prolific fundraiser with a $50 million war chest, and O'Rourke, the former Democratic congressman who has been his party's only hope at winning statewide in recent years. Poll worker shortages and other glitches emerge as Texans kick off this year's primary election seasonAbbott, who is seeking a third term, was always the favorite to win his party's nomination despite far-right criticism of his handling of the coronavirus pandemic in its early days. But he spent $15 million to be sure of it, fending off former Florida congressman and Texas Republican Party chairman Allen West and former state Sen. Don Huffines. O'Rourke, meanwhile, is seeking office for the third time in five years. His near-miss in the 2018 race against Republican Sen. Ted Cruz ignited Texas Democrats' hopes that the state, with a diverse and growing population and suburbs that have moved leftward, would soon become a battleground. Now, with a campaign focused on Abbott's management of the grid failure that left much of Texas without power after a winter storm last year, he'll seek to deliver on that promise in a year in which the national political environment could be much tougher for Democrats. Embattled AG faces runoff against BushTexas Attorney General Paxton was unable to reach the 50% support he needed to avoid a runoff, and will face a head-to-head match-up with a member of the state's best-known political family. Paxton, a Republican with former President Donald Trump's endorsement thanks to the attorney general's lawsuit seeking to overturn the 2020 presidential election results, faced a crowded field of challengers. The efforts to oust him center on his legal troubles: Paxton has been under indictment since 2015 on securities fraud charges, and is being investigated by the FBI after former aides accused him of abusing the power of his office to help a political donor. As votes were being counted late Tuesday night, the second-leading vote-getter was Texas Land Commissioner George P. Bush, the son of former Florida Gov. Jeb Bush. He led former state Supreme Court Justice Eva Guzman and US Rep. Louie Gohmert, a Trump ally. Bush had aligned himself much more closely with Trump than other members of the Bush family. He told supporters Tuesday night that Paxton "is going to divert attention away from his legal problems and personal challenges" during their runoff. Cisneros, Cuellar could be headed for another roundThe rematch between Rep. Henry Cuellar, the most conservative Democrat in the US House, and progressive challenger Jessica Cisneros, who nearly defeated him in 2020, was neck-and-neck Tuesday night. It could be headed for a runoff. Though Cuellar and Cisneros are both from Laredo, the race split along geographic lines: Counties closer to San Antonio overwhelmingly supported the more progressive Cisneros; along the border, Cuellar was dominant. Cuellar is a rare figure in Washington: a pro-gun rights, anti-abortion rights Democrat who outperforms the national party in an area where Democrats have rapidly lost ground to Republicans in recent presidential election cycles. The FBI searched Cuellar's house weeks before the primary election. He largely dropped off the campaign trail, relying on television ads. That progressives could not defeat a hobbled Cuellar offered a window into the party's left flank's struggles to connect with Latinos in South Texas. A silver lining for progressivesProgressives did have one victory to celebrate Tuesday night: Greg Casar, a former Austin city councilman, was projected to win the 35th Congressional District primary outright, avoiding a runoff. Casar, who was endorsed by Vermont Sen. Bernie Sanders and campaigned with New York Rep. Alexandria Ocasio-Cortez, is the favorite to win the seat in November. The 35th District, which stretches from Austin to San Antonio, is a new one drawn by Texas lawmakers during last year's redistricting. It became a target for progressives after Democratic Rep. Lloyd Doggett, the incumbent who had represented parts of the new district, chose to run in a neighboring district. 15th District also heads to a runoffThe most competitive US House race in Texas this year could come in the 15th District, a South Texas district that stretches from towns east of San Antonio to the Rio Grande Valley. A roadmap to the 2022 midterm electionsRepublican Monica De La Cruz, who came within 3 percentage points of defeating Democratic Rep. Vicente Gonzalez in 2020, will win the Republican nomination, CNN projected. Gonzalez, meanwhile, is running in the neighboring 34th District. But Democrats will have to wait until May 24 to determine her opponent. On Tuesday, the results of the Democratic primary remained to be seen. Ruben Ramirez, an attorney and Afghanistan war veteran, led the field, followed by a tight contest between Michelle Vallejo, a progressive favorite, and attorney John Villarreal Rigney for the second runoff spot.Trump's 'big night in Texas'Trump took a victory lap Tuesday night after every candidate he endorsed in Texas either won or advanced to a runoff. "Big night in Texas! All 33 candidates that were Trump endorsed have either won their primary election or are substantially leading in the case of a runoff," Trump said in a statement. Faulty ballots and frustration: Texans confront 'nightmare' effects of new election law as early voting kicks offThat was partly by design: Trump only endorsed Republicans who were either already favored or were locks to win. His endorsement carried weight, but was not enough to help Paxton avoid a runoff. Trump did not involve himself in the 8th District race to replace retiring US Rep. Kevin Brady. But virtually all of his allies, and every other power player in the GOP, did.

Gregory Krieg and Maeve Reston, CNN

2022-03-01 21:50:48

politics

politics

https://www.cnn.com/2022/03/01/politics/2022-texas-primary-election-key-races/index.html

Ken Paxton and George P. Bush will advance to May runoff in Texas attorney general primary, CNN projects - CNNPolitics

Texas Republicans will need a May runoff to decide their nominee for state attorney general after incumbent Ken Paxton fell short of clinching a majority in Tuesday's primary, setting up a showdown with Texas Land Commissioner George P. Bush in May, CNN projects.

politics, Ken Paxton and George P. Bush will advance to May runoff in Texas attorney general primary, CNN projects - CNNPolitics

Ken Paxton and George P. Bush will advance to May runoff in Texas attorney general primary, CNN projects

(CNN)Texas Republicans will need a May runoff to decide their nominee for state attorney general after incumbent Ken Paxton fell short of clinching a majority in Tuesday's primary, setting up a showdown with Texas Land Commissioner George P. Bush in May, CNN projects.Paxton led the four-candidate field by a comfortable margin, despite feisty and well-funded challenges from Bush, former state Supreme Court Justice Eva Guzman and Rep. Louie Gohmert."I guess what I'd say is, clearly, to the establishment: they got what they wanted," Paxton said in a speech to supporters late Tuesday. "They got me in a runoff."Texas Gov. Greg Abbott, a two-term incumbent, will defeat a crowded field of GOP challengers to secure the gubernatorial nomination, while Beto O'Rourke, a former congressman and Senate and presidential candidate, will win the Democratic nomination, CNN projects.Votes are being counted in Texas in the first primaries of the 2022 midterms, with contests on both sides of the aisle poised to set the landscape for elections in November that could swing control of Congress to Republicans.Read MoreBut as the results came in, Texas shared the spotlight with President Joe Biden's State of the Union address on Capitol Hill and the rapidly escalating crisis in Ukraine, where invading forces from Russia are moving in on major cities across the country.Russian President Vladimir Putin's troops were camped out on the Ukrainian border when early voting began in Texas on February 14, and while the conflict appears unlikely to influence Tuesday night's elections, quick-moving events at home and abroad underscore the challenges facing candidates as the 2022 midterms begin in earnest.5 things to watch in the Texas primary electionThe banner contest on Tuesday revolved around Paxton, the two-term incumbent who filed a failed lawsuit seeking to effectively overturn the 2020 election and ran under a cloud of legal issues, with the possibility of more on the horizon. His GOP challengers, led by Bush and Guzman, argued he could endanger the GOP's effort to yet again sweep statewide offices.Polling ahead of Election Day showed Paxton with a commanding lead but suggested he would fall short of the majority he needed to win the nomination outright.Bush, the latest in a political dynasty that, even with the Republican Party now in thrall to former President Donald Trump, maintains a considerable stature in Texas political circles and this campaign amounted a referendum on the future of that dynasty. Like Bush, Guzman, who spent more than a decade on the state's high court, is a relative moderate. The pair clashed in a recent debate, which saw Guzman question Bush's qualifications and Bush denounce Guzman as a "gutter politician." More troubling for Paxton, though, was been the candidacy of Gohmert, whose ideological and geographic base overlaps with Paxton's. The Democratic primary for attorney general will also go to a runoff, CNN projected.Hanging over the primary were concerns -- at least among Democrats and voting rights advocates -- about the effect of the state's restrictive new voting rules.Texas was the first of a number of Republican-led states to hold major elections after passing legislation, on the back of a political wave set off by Trump's long campaign to sow doubt over his loss in 2020, that complicates mail-in voting and outlaws other efforts to make the ballot more accessible. Some larger Texas counties have reported spikes in ballot rejections because would-be voters did not meet beefed-up and, to many, confusing new identification requirements. As polls closed, Harris County officials warned of delays in reporting results, due to "damaged ballot sheets that need to be duplicated," according to a press release issued by state election officials late Tuesday. Later that night, Harris County election officials said that this was merely a "preliminary discussion" of a possible delay, and on Wednesday, they were confident they would meet the deadline to count votes while disputing earlier reports of "damaged ballots."The primaries brought some poll worker shortages and other glitches, but Election Day itself was mostly calm -- with the scramble to fix the unusually high number of faulty mail-in ballots emerging as the biggest challenge from this first round of voting.The leading problem, said Isabel Longoria, who presides over elections in populous Harris County, was voters did not include identifying numbers on the return ballot envelopes under the flap. The tally of potential ballot rejections as of Monday would represent 30% of the mail-in-ballots submitted in the county. By contrast, fewer than 1% of mail-in ballots -- or about 8,300 ballots statewide -- were rejected in the 2020 general election, according to the US Election Assistance Commission.The decennial redistricting process has also added to primary night uncertainty -- and intrigue.With a new congressional map designed to further reduce the number of contested seats on the map, most of both parties' nominees can expect that their primaries will be more fiercely fought than the contests that await in November. The diminishing number of swing districts means there has been an even greater focus on campaigns that cast opposing flanks of the parties against one another.For Democrats, those contrasts have been on vivid display in the 28th Congressional District, where Rep. Henry Cuellar, one of the most conservative Democrats remaining in the House, and progressive challenger Jessica Cisneros will advance to a runoff, CNN projected Wednesday. Cisneros, a 28-year-old immigration attorney backed by New York Rep. Alexandria Ocasio-Cortez and Vermont Sen. Bernie Sanders, nearly ousted the congressman from the South Texas seat in 2020.But his district is modestly more Democratic this time around, and Cisneros had received a late boost in the race when it was revealed that Cuellar is under investigation by the FBI. Cuellar has denied any wrongdoing, and the specifics of the probe largely remain a mystery.In a cruel twist for the left, however, progressive candidate Tannya Benavides, who earned nearly 5% of the vote, may have siphoned enough support from Cisneros to prevent her from securing the 50% needed to avoid a runoff. Henry Cuellar is a political institution in South Texas. An FBI raid and a second challenge by progressive Jessica Cisneros could topple himRepublicans, including Trump, outperformed expectations with Latino voters in the 2020 elections and Cuellar has argued that his harder line on immigration issues, in a district that runs from the San Antonio suburbs down to the Rio Grande Valley and along the border to Laredo, is the only path for Democrats in the region. But victory for Cisneros in May -- and, should she win, the makeup of her coalition -- will provide new insight into what the shifting margins from two years ago portend for the fall elections. Even in this first round of voting, the divisions in the party were clear from early in the night. Cisneros' backbone of support came from the San Antonio suburbs, while Cuellar dominated in the border counties -- a breakdown that will give both flanks of the party reason to celebrate and cause to fret. The Republican primary for the 28th District was not decided Tuesday, with Cassy Garcia, a former staffer to Texas GOP Sen. Ted Cruz, advancing to the runoff, CNN projects. The second spot for that May contest had not yet been called as of midday Wednesday.While Cuellar's bid for survival captured the most attention, Republicans were also closely watching GOP turnout in other parts of South Texas after stepping up their recruitment of candidates to run in a region that has been dominated by Democrats for decades.Monica De La Cruz, who pulled off a surprising finish when she came within 3 points of dispatching Democratic Rep. Vicente Gonzalez in 2020, will win the GOP nomination for the newly redrawn 15th District, CNN projects, bolstered by the endorsement of both Trump and House Minority Leader Kevin McCarthy. Democrats look to win back Latino voters after Trump's inroads in South TexasThe crowded Democratic race to face off with De La Cruz will be decided in a runoff. Afghanistan veteran Ruben Ramirez, a lawyer and former high school teacher backed by Gonzalez, has secured his spot, CNN projects, but it remains unclear whether John Villarreal Rigney, an attorney and owner of a South Texas construction firm, or Michelle Vallejo, a progressive small business owner endorsed by Massachusetts Sen. Elizabeth Warren, will be joining him.Gonzalez is now running in the neighboring 34th District, which became more favorable for Democrats after redistricting. He will win his primary outright to move on the general election where he will face Mayra Flores, who will best three other candidates in the GOP primary, CNN projects. Despite the uncertainty surrounding the Cuellar-Cisneros race, another progressive backed by Sanders and Ocasio-Cortez, former Austin City Council Member Greg Casar, will advance to November, CNN projects, after earning a comfortable majority in the Democratic primary for the 35th District, a safe blue seat.On the Republican side, a perceived lack of fealty to Trump was among the factors that endangered incumbent Reps. Van Taylor and Dan Crenshaw. Taylor's opponents in the 3rd District had attacked him over his vote to establish an independent commission to investigate the January 6 insurrection at the US Capitol. The panel was rejected by Senate Republicans and effectively replaced by a select committee created by House Speaker Nancy Pelosi. But Taylor's vote riled some Trump supporters, which fueled the opposition against him.CNN projected that Taylor would advance to a May runoff against former Collin County Judge Keith Self, but the congressman suspended his reelection bid on Wednesday after admitting to an extra-marital affair. Allegations of Taylor's infidelity surfaced in right-wing media days before Tuesday's primary. Crenshaw, who ran unopposed in the 2020 GOP primary, triumphed over multiple challengers in the 2nd District attacking him from the right -- a consequence, in part, of Texas Republicans' gerrymandering of the district to make it a safe red seat. Crenshaw is one of the most conservative members in the GOP conference, and was a signatory to Paxton's 2020 election lawsuit, but he has occasionally sparred with the former President's closest allies, including Georgia Rep. Marjorie Taylor Greene, most recently criticizing her for speaking at a White nationalist conference over the weekend. Greene and North Carolina Rep. Madison Cawthorn were also opposing GOP leadership in the race to replace retiring GOP Rep. Kevin Brady in Texas' 8th District. Former Navy SEAL Morgan Luttrell is the national party's choice, but far-right opponent Christian Collins had the backing of Greene, Cawthorn, Cruz, and Joe Arpaio, the former Maricopa County, Arizona, sheriff who was pardoned by Trump. The race was undecided as of Wednesday morning.This story has been updated with additional developments.

Analysis by Chris Cillizza, CNN Editor-at-large

2022-03-02 17:47:30

politics

politics

https://www.cnn.com/2022/03/02/politics/texas-ag-paxton-bush-trump-runoff/index.html

Analysis: Texas attorney general runoff is a win for the Bushes over Trump - CNNPolitics

On Tuesday night, Texas Attorney General Ken Paxton was forced into a May Republican primary runoff with George P. Bush, a victory for the Bush family in their long-running feud with former President Donald Trump.

politics, Analysis: Texas attorney general runoff is a win for the Bushes over Trump - CNNPolitics

Score one for the Bush family over Trump

(CNN)On Tuesday night, Texas Attorney General Ken Paxton was forced into a May Republican primary runoff with George P. Bush, a victory for the Bush family in their long-running feud with former President Donald Trump.Paxton had been endorsed in the race by Trump, who called the embattled attorney general "strong on Crime, Border Security, the Second Amendment, Election Integrity and, above all, our Constitution."Bush, on the other hand, is the son of former Florida Gov. Jeb Bush and a scion of the most famous family in establishment Republican politics. His father and Trump feuded regularly during the course of the 2016 campaign. Neither Jeb Bush nor his brother, former President George W. Bush, voted for Trump in 2016. (George W. Bush also revealed he didn't vote for Trump in 2020.) Their late mother, Barbara Bush, said of Trump: "He sort of makes faces and says insulting things.""I guess what I'd say is, clearly, to the establishment: They got what they wanted," Paxton said in a speech to supporters late Tuesday. "They got me in a runoff."With an estimated 96% of the vote in, Paxton stood at 43%, while George P. Bush was at 23%. The rest of the vote was split among two other primary challengers. Paxton and Bush will face off again on May 24.Read More THE POINT -- NOW ON YOUTUBE! In each episode of his weekly YouTube show, Chris Cillizza will delve a little deeper into the surreal world of politics. Click to subscribe! Now, while it's fascinating to see the race -- and the results -- as a proxy war between the old face of the Republican Party (the Bushes) and its new face (Trump), the reality is slightly more nuanced.First, Paxton finds himself in significant legal jeopardy. In 2015, shortly after being elected as Texas attorney general, Paxton was indicted on charges of securities fraud. He pleaded not guilty and the trial continues to be delayed amid legal wrangling on both sides. Then, in October 2020, seven Paxton aides accused him of bribery and abuse of office -- charges that Paxton denied. (The FBI is reportedly looking into the allegations.)Bush, who currently serves as Texas Land Commissioner, made Paxton's legal problems a key part of his case against the incumbent. In a speech on Tuesday night, he argued that nominating Paxton would cost Republicans the office in the fall. "That's what's at stake in this race," he said, according to the Texas Tribune. "That's what this campaign is about. It's not about one individual. It's about preserving conservative values in our state."Second, Bush isn't exactly a chip off the old block. While his father called Trump "unhinged" during the 2016 primary campaign, the younger Bush has been much more willing to bend the knee to the former President.In the days before he formally entered the attorney race in the summer of 2021, George P. Bush tweeted a picture of himself on a cell phone with this caption: "Great to speak with President Trump to discuss the future of Texas and how we are keeping up the fight to put America first. I appreciate the words of encouragement and support."At the announcement itself, Bush supporters were handing out koozies that featured a drawing of him and Trump with a 2019 quote from the former President that read: "This is the only Bush that likes me. This is the Bush that got it right. I like him." (George P. Bush endorsed Trump in the 2020 race, calling him "the only thing standing between America and socialism.")So, like I said, it's not totally clear-cut that Paxton's failure to avoid a runoff is purely a referendum on the Bush family vs. Trump dynamic. But whether George P. Bush has said nice things about Trump in the past (and vice-versa), it is unmistakably true that he is the son of Jeb Bush and that Trump weighed in for Paxton early and strongly in the primary fight.Which means this is something of a proxy fight between the two sides. And it's only going to get more intense over the next two and a half months.

Charles Riley, CNN Business

2022-03-18 12:13:14

business

investing

https://www.cnn.com/2022/03/18/investing/premarket-stocks-trading/index.html

Premarket stocks trading: Wall Street is starting to tune out Ukraine - CNN

The S&P 500 surged 6% this week, its best weekly performance since November 2020.

investing, Premarket stocks trading: Wall Street is starting to tune out Ukraine - CNN

Wall Street is starting to tune out Ukraine

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.London (CNN Business)The S&P 500 surged 6% this week, its best weekly performance since November 2020.What?That's right. US stocks had a banner performance even as war raged on in Ukraine, Russia teetered on the brink of default and the Fed hiked rates for the first time since 2018.The S&P 500 was up 1.2% Friday. The Dow, which rose nearly 275 points, or 0.8%, also had its best week since November 2020, gaining 5.5%. The Nasdaq, which climbed 2.1% Friday, soared 8% this week. That's its biggest weekly gain since November 2020 as well.The International Energy Agency also warned this week of the biggest oil supply crisis in decades. Analysts are worried that war in Ukraine could result in global food shortages. The West continues to announce new sanctions targeting Russia. Read MoreEnergy, metals and currency markets have responded to these seismic events with wild swings. Nickel prices have dropped sharply following a trading halt in London that lasted a week.But stocks are charting their own path, suggesting that investors may be starting to tune out the war in Ukraine."In the end, most asset classes seemed to throw their hands up and go with whatever suited their narrative," said Jeffrey Halley, senior market analyst at OANDA.The "perpetually bullish gnomes of the equity market" pushed stocks higher on Thursday after positive US manufacturing and labor market data, he added.Yet there may be some logic behind the stock moves.Enter the Fed: The US central bank struck a more hawkish tone at its meeting this week than many investors expected. The median forecast from policymakers is now for seven rate hikes this year, and three more in 2023. Still, stocks surged. Analysts at UBS don't see that as inconsistent. They gave three reasons:Fed Chair Jerome Powell convinced investors that the US economy is strong enough to withstand higher rates. Economic data has continued to strengthen, he said, and the labor market is very tight.The bond market suggests that weaker growth is ahead. But a recession, if it comes, could still be years away. Stocks often rally when the Fed starts hiking interest rates. Since 1983, the S&P 500 has returned an average of 5.3% in the six months following the first Fed rate rise of a cycle, according to UBS."We advise investors to prepare for higher rates while remaining engaged with equity markets. We prefer a hedging strategy and selective equity exposure over exiting risk assets," the bank's analysts wrote. Energy stocks provide a hedge against risks from the war in Ukraine, they said. Financial stocks also tend to rise when interest rates move higher.Russia creeps closer to averting defaultThere are signs that Russia may avoid default ... for now. Some of the creditors who had been waiting on $117 million in Russian interest payments since Wednesday have now received the funds, according to Reuters, which cited anonymous sources. Moscow attempted to make the payment earlier this week, but bondholders did not immediately receive the money due to "technical difficulties related to international sanctions," S&P Global said in a statement on Thursday. JPMorgan has processed the payments, and passed them to Citigroup, the payment agent responsible for distributing the money to investors, the Financial Times reported.If all investors don't get their money before a 30-day grace period expires, that would be considered a default. Russia hasn't missed an international debt payment since the Bolshevik revolution.But it's not out of the woods, yet."We think that debt service payments on Russia's Eurobonds due in the next few weeks may face similar technical difficulties," said S&P. "At this point, we consider that Russia's debt is highly vulnerable to nonpayment."S&P has slashed its rating on Russian sovereign debt to CC from CCC-, which is just two notches above default.Up next: Russia has to make debt payments totaling $168 million on March 21 and March 28, but creditors agreed to accept euros, pounds, francs or rubles as payment when they bought those bonds.The next big tests come on March 31, when Russia has a payment of $447 million, and April 4, when it has to cough up more than $2.1 billion on two securities. Those payments can only be made in dollars. Read more: Defaults are murky territory in global economics. My CNN Business colleague Allison Morrow has a great breakdown here.The end of cheap mortgagesMortgage rates have climbed above 4% for the first time since May 2019, a sign that the era of super cheap home loans may have ended.The 30-year fixed-rate mortgage averaged 4.16% in the week ending March 17, up from 3.85% the week before, reports my CNN Business colleague Anna Bahney.Fed action: Rates climbed as the Federal Reserve moved to curb soaring inflation. On Wednesday, the central bank announced it would raise interest rates for the first time since 2018. Mortgage rates are not directly tied to the federal funds rate. Rather, they track the yield on 10-year Treasury bonds, which are influenced by factors including investors' reactions to the Fed's moves and inflation."The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year," said Sam Khater, Freddie Mac's chief economist.Rising inflation and the uncertainty in Ukraine are also impacting rates."Inflation is unlikely to slow down any time soon," said George Ratiu, Realtor.com's manager of economic research. "Investors are reacting to the deepening war in Ukraine and expecting renewed supply chain disruptions to add additional pressures on consumer prices."All these factors will continue to push mortgage rates higher in the months ahead, he said. That means one of the main drivers of home sales over the past two years — super low mortgage rates — is drying up."The days of sub-3% interest rates are firmly behind us, and we have yet to solve the market fundamentals of supply and demand," said Ratiu.Up nextUS existing home sales data will be published at 10:00 a.m. ET.Coming next week: Earnings from Nike, General Mills and Darden Restaurants.

David Goldman, CNN Business

2022-03-16 20:04:18

business

investing

https://www.cnn.com/2022/03/16/investing/russian-debt-payments/index.html

Russia says it made a payment to avoid default - CNN

Russia says it has ordered the $117 million in interest payments it owes Wednesday to be sent to investors, attempting to avoid its first international default in more than a century. But it's not out of the woods yet.

investing, Russia says it made a payment to avoid default - CNN

Russia says it made a payment to avoid default

New York (CNN Business)Russia says it has ordered the $117 million in interest payments it owes Wednesday to be sent to investors, attempting to avoid its first international default in more than a century. But it's not out of the woods yet.That's because the funds the country used to make the debt payments came from Russia's frozen foreign assets, sanctioned because of its attack on Ukraine — so it remains unclear whether investors will receive their money. Anton Siluanov, Russia's finance minister, told state media Russia Today that the country had made good on its obligations to creditors. But the "possibility or impossibility of fulfilling our obligations in foreign currency does not depend on us," Siluanov said, according to RT, warning that the payment might not go through if the United States disallows it. 4 things Russia could do as default looms"We have the money, we made the payment, now the ball is in America's court," he said.A spokesman for the Treasury said the United States would allow the payments to go through.Read MoreThe two coupons Russia must pay on the maturing dollar-denominated eurobonds serve as the first test of Russia's ability to pay its debts while the world heaves massive sanctions on its economy.If the US blocked the payment, Russia said it would try to pay in rubles rather than dollars. But that action could constitute a default, Fitch Ratings said Tuesday.It highlights the crunch Russia is in: The nation has the money to pay its debts. It just can't access about half of those funds after the West placed unprecedented sanctions on its foreign reserves, totaling about $315 billion, according to Siluanov.If the Russian government defaults, investors' losses could start to mount. Western investors are less exposed to Russia than they used to be. Sanctions following the annexation of Crimea in 2014 already encouraged them to reduce their exposure. But international banks are owed about $121 billion by Russian entities, according to the Bank for International Settlements.JPMorgan estimates that Russia had about $40 billion of foreign currency debt at the end of last year, with about half of that held by foreign investors. So a default would be bad news for Russia, which will have to meet its obligations in its practically worthless currency, lacking access to foreign financing. But the global markets probably won't get hurt too badly.More payments are coming due soon. A much larger $2 billion payment scheduled for early April could create even bigger headaches for Moscow.— CNN's Lindsay Isaac, John Harwood and Julia Horowitz contributed to this report

Kathryn Vasel, CNN Business

2022-03-08 14:58:09

business

success

https://www.cnn.com/2022/03/08/success/new-hire-make-friends-remote-work/index.html

Joining a company remotely? Here's how to bond with your colleagues - CNN

Getting to know new colleagues through a box on your screen while working from home can have its challenges.

success, Joining a company remotely? Here's how to bond with your colleagues - CNN

Joining a company remotely? Here's how to bond with your colleagues

Getting to know new colleagues through a box on your screen while working from home can have its challenges. Recent hires already have a lot on their plates when it comes to making a good impression, but forging relationships with your new co-workers should also be a high priority, even if you've never met them in person. "It is very important to build personal connections with people at work," said Jennifer Benz, a senior vice president at human resources consulting firm Segal. "If you have those strong personal relationships at work in the tough times and the good times, you are going to have a better support system, and that's really important not just for your happiness, but also for your professional success."If you are joining a company remotely or only occasionally seeing your team in person, here are some ways to get to know them better: Be intentional Read MoreWhen random hallway introductions and spontaneous walks for coffee aren't an option, you need to be more intentional about setting up get-to-know-you chats."It will require effort ... if you want to forge relationships when you are new," said Tessa White, CEO of The Job Doctor. "They won't come to you, you have to go to them, which means you have to expend extra effort in whatever feels most natural to you."Ask your manager for recommendations of people to reach out to and connect with.Congrats on your first job! Here's what to do with your 401(k)And these casual meetings don't have to take place in front of a screen. "Take a meeting while walking your dog, anything that creates connection," said White. She added that asking questions like: "How can I help you in your job?" or "Tell me something you'd like me to know that I don't know about you," can help get conversations going. But also asking new colleagues about their own personal career path can help them open up on a more personal level and provide advice. "Ask people: 'What were your first few weeks like and what helped you navigate that time?'" suggested career coach Octavia Goredema, author of Prep, Push, Pivot: Essential Career Strategies for Underrepresented Women. Ask for a buddy If your company's onboarding process doesn't include a person assigned to help you get to know the organization and make introductions, Benz suggested asking for someone. And that person shouldn't be your manager. Check the company's handbook or internal website for other ways to connect with colleagues, including employee resource groups (ERGs), a mentorship program or volunteer activities. "Those are going to be other opportunities to meet people and build connections beyond the immediate group of people you work with day-to-day," said Benz.You can also ask to be connected with other recent hires -- even if they aren't on your team. "Someone who is just a few months ahead of you has a perspective that will be so helpful," said Goredema.Set goals: small and big When starting a new job, it's always a good idea to set short- and long-term goals for your role, and also map out the relationships you want to cultivate, suggested Goredema."Think about whose support is going to be pivotal to your success," she said.For instance, a short-term goal could be remembering the names of the people on your team and knowing something specific about them. "Also, think about what you would want them to know about you," she added. And because it takes a few months to get acclimated, Goredema, suggested taking notes. "Keep a cheat sheet that can help you when you go back and reflect on with who've you met and what you've observed."A longer-term goal could be learning your manager's and team's expectations and aligning your own expectations with them, including knowing how they like to communicate, how they interact and what the deliverables are. Ask to shadow Ask your manager if you can listen in on meetings virtually if appropriate, that can help you meet new people as well as learn the company's meeting culture. "Asking to shadow someone and being able to sit in on meetings and ask questions and debrief after the meeting -- that is a great way to learn," said Benz. She also recommended offering to take notes or track any follow-ups after the meeting or help with any prep. "That is going to be a benefit for your team as well as for your learning."Make the most of your in-office daysIf you work in person part of the time, ask your teammates when they'll be in the office and set up lunch, in-person meetings and coffee runs in advance. "And if you're the young professional on your team who has the most flexibility in your schedule, then [match] to what the other folks on your team are doing and where you can interact and have the most time with them in person," said Benz. Turn your camera on As we head into year three of the pandemic, we're all tired of being on camera for meetings. But it can be hard to remember a person's name if you can't envision their face, so Goredema suggested turning your video on to help forge better connections. "It's not just what you share...it's how you show up and how you are present," she said. "Video meetings are a great opportunity to show clues to who you are -- professionally of course." She said adding your favorite books on a shelf behind you, or a mug with your alma mater or favorite sports team can help get a conversation going. "All of these things help forge connections and associations."

Kathryn Vasel

2022-03-02 16:45:18

business

success

https://www.cnn.com/2022/03/02/success/resume-gap-career-break/index.html

Why resume gaps aren't a big deal anymore - CNN

Returning to the workforce after a career break can be difficult.

success, Why resume gaps aren't a big deal anymore - CNN

Why resume gaps aren't a big deal anymore

Shanika Puckett has taken six breaks during her nearly 20-year career as a graphic designer. Most were for a few months, like after the birth of her daughter or after an infection put her in a medically induced coma and she had to relearn how to walk. One break, after she left a job she was unhappy with and then searched for a new one, lasted a year. Puckett is currently working on a contract basis and is looking for a full-time job. During job interviews, she said it's almost inevitable that recruiters will ask her about the gaps on her resume."This is real life, things happen ... there are life events that you have to process," said Puckett, who lives in the Atlanta area. "As I get further in my career ... I feel like I [shouldn't have to] keep explaining and re-explaining it...I have experience, I have portfolios, I have recommendations and references. Why do we get hung up on these minor details?" 4 reasons why this jobs report matters to your walletCareer gaps on resumes have long been seen as red flags to some recruiters and hiring managers. Sometimes there is a concern that the time away leaves the candidate with technological gaps or a need for more time to acclimate back into their role, or there's a fear that they aren't serious about returning, explained Carol Fishman Cohen, CEO and co-founder of iRelaunch, which helps companies launch and expand programs that help employees return to the workforce.Read More"Historically, there were some really conscious bias around career gaps, some of it warranted, some if it not, " said Jeramy Kaiman, head of LHH Recruitment Solutions, West at the Adecco Group. But with millions of Americans dropping out of the workforce during the pandemic for a range of reasons -- they lost their job, needed to care for a family member, had childcare and remote learning responsibilities, sought a career change or decided to retire early -- attitudes about gaps on a resume have begun to shift. "The pandemic has definitely lessened the stigma around career breaks," said Fishman Cohen. "[They're] more common now and recruiters and hiring managers are getting used to seeing them on resumes."Child care worker shortage strands half a million familiesNow, many of the workers who took a break during the pandemic are starting to re-enter the workforce, according to Kaiman. "Because it was such a high volume of people who chose to stay home for a variety of reasons and the labor market is so tight, those things factored in together made it that employers are much more flexible now about their 'red flags' toward longer career gaps." In fact, LinkedIn launched a new feature Tuesday that gives users the option of adding "career breaks" to the experience section of their profile. Users can enter dates and choose a reason for the gap, including caregiving, bereavement, career transition, layoff, health and well-being, travel and volunteer work. They can also include additional details on how they spent the time."It allows you to openly embrace the time you took away from work on your profile and show how these life experiences ... apply to prospective jobs," said Camilla Han-He, senior product manager, profile and identity products at LinkedIn.LinkedIn's new "career breaks" feature allows users to add details about their time out of the workforce.She added the more people share their career breaks, the more it will help normalize them. "By giving people a recognized way to proudly display their career breaks in their profile, we are letting the world know that taking a career break is professional," Han-He said.While Kaiman thinks the shift in attitude toward career gaps is here to stay, he said applicants who have career gaps and have changed jobs frequently might still give employers pause. "When they have career gaps coupled with a lot of job mobility, I think that is a red flag employers are still going to have some concerns about." How to address the gapIf a potential employer asks about a career break, Fishman Cohen said the key is to acknowledge the break and focus on why you are the best candidate for the job. She suggested bringing up anecdotes from previous work or volunteer experiences that showcase your skills. How to handle a pandemic-related gap on your resume She also suggested keeping the focus away from the lapse between jobs during interviews. "The important thing isn't when you had the experience, but that you had the experience," she said. "So instead of saying, this is ancient history but way back in 2010 we faced a very similar customer challenge, you would say: 'When I was working for company X we faced very similar customer challenges, let me tell you about one of them.'" For job seekers who have been looking a while, Kaiman suggested focusing on the things you've been doing during the gap, like new skills training or any relevant experiences that make you a strong candidate, and how you are being selective about your next opportunity."Discuss the reasons you were searching for the right job versus discussing the inability to find a job," he said. "That makes you look more confident in the reason for the longer unemployed gap."

Jeanne Sahadi, CNN Business

2022-03-01 15:03:47

business

success

https://www.cnn.com/2022/03/01/success/state-income-tax-ramifications-remote-work/index.html

Working remotely in a different state than your employer? Here's what that means for your taxes - CNN

If you worked from a state other than the one where your employer is based, you may have to pay up for that privilege come tax time.

success, Working remotely in a different state than your employer? Here's what that means for your taxes - CNN

Working remotely in a different state than your employer? Here's what that means for your taxes

If you're among the employed Americans who were allowed to work remotely during the pandemic last year, count your blessings. But if you worked from a state other than the one where your employer is based, you may have to pay up for that privilege come tax time. Here's why: You are now going to be subject to the income tax rules of two or more states (depending on how many states you worked from remotely last year). Employers take note: Most remote workers don't want to go back to the officeAt the very least you likely will have to file more than one state tax return for 2021, which will cost you more if you're paying someone else to prepare your taxes.And in some instances -- primarily involving five states that have so-called convenience rules (more on those in a minute) -- you may even be double-taxed on the same income.That's why the best advice is to consult an experienced tax professional well versed in state tax law to help assess your situation. "Talk to someone. Figure out what the rules are. Then chart out your game plan from there," said Timothy Noonan, the tax residency practice leader at law firm Hodgson Russ LLP.Read MoreEach state makes its own tax rules All but nine states impose income tax on earnings. And each one sets its own parameters for determining who must file a return and who owes income tax.To say the states' rules are "all over the map" is apt here.There are rules governing taxation of people working remotely for in-state and out-of-state employers. There are rules that will trigger the income tax for non-residents after they work in-state for more than a minimum amount of time or earn a minimum amount of money doing so. And if you worked remotely from a state for more than 183 days last year, you may even be characterized as a resident for tax purposes.Plainly put, "it is super confusing," said Lorraine Cohen, partner at Deloitte Tax LLP. A potential double taxation scenarioMost states assert the right to tax someone's income on the basis of their physical presence generating that income within its borders, Cohen noted. So if your employer is based in one of these states and you worked remotely last year from another state with a similar rule, chances are fair you won't be double taxed on the same income.But your chances for double taxation go up if your employer is based in one of the five states -- Connecticut, Delaware, Nebraska, New York, and Pennsylvania -- that have what's called a "convenience rule." That rule basically asserts that a state has the right to impose an income tax on wages you earned while working for an employer based in that state, even if you choose to perform your job remotely from another state. The only exception: If your employer directs you to work out of state for its convenience, say because they need you to work at another branch for a period. "If your office is in a convenience rule state, you can owe taxes both there and in [the other] state on the same income," said Jared Walzcak, vice president of state projects at the Tax Foundation.Don't panic if you got a scary IRS noticeOne example of this: If you were employed by a New York-based organization but chose to work remotely from California last year, New York will tax your income on the basis of its convenience rule. And California would tax your income earned while you were telecommuting from the state.The good news: Some states will yield to the state imposing a convenience rule. Or sometimes, two neighboring states may strike a "reverse credit" agreement that will help a remote worker avoid double taxation, although it may still subject them to a higher tax rate than they would ordinarily pay. Cohen and her Deloitte colleagues offered this example in a recent article for Tax Notes: "An Oregon resident who works remotely in California is only subject to tax in California on the California liability amount that exceeds the Oregon liability amount. In contrast, a California resident working temporarily in Oregon would not have any Oregon tax liability because the California tax rate on wages exceeds Oregon's tax rate." Or neighboring states might strike a "reciprocal agreement" -- such as one that exists between New Jersey and Pennsylvania -- that will clarify a resident of one state working in the other will only owe taxes to their resident state under certain conditions.But you should assume nothing. Instead, get the facts specific to your case before plowing ahead with your 2021 tax returns.

Anneken Tappe, CNN Business

2022-03-15 12:32:20

business

economy

https://www.cnn.com/2022/03/15/economy/us-inflation-consumer-behavior/index.html

When will people get fed up with high prices? - CNN

Americans have watched prices for everything from diapers to gas go up over the past year. So far, they have kept reaching for their wallets. But what happens when they reach their breaking point?

economy, When will people get fed up with high prices? - CNN

When will people get fed up with high prices?

New York (CNN Business)Americans have watched prices for everything from diapers to gas go up over the past year. So far, they have kept reaching for their wallets. But what happens when they reach their breaking point?The pandemic and the supply chain crisis have pushed the cost of virtually everything higher. Food and cars are more expensive, as are transport and labor costs, making inflation the buzzword of the moment.In February, consumer prices increased at a level not seen since the start of 1982. And odds are it won't stop there."A month ago, we were generally looking at inflation that was primarily in areas that you were spending more on because of the pandemic," such as cars, housing and home renovations, said Frances Donald, global chief economist and strategist at Manulife Investment Management. "These were more optional types of inflation."After a year of soaring costs, the Ukraine-Russia conflict is pushing prices for more essential categories, like food and energy, up even more.Read MoreThe price hikes Americans are likely to experience in the coming months will be much harder to get around, Donald said."We don't see a lot of what economists call elasticity when it comes to demand for fuel and food. We don't have a choice. You can't not eat. You can't not drive to work," she said.Gas and food prices on the riseThe cost of cooking dinner and fueling the car have already shot up over the past year. Gasoline prices rose 38% in the 12 months ended February, while prices for meats, poultry, fish and eggs jumped 13% over the same period, according to Labor Department data.Now gas prices are rising even further and people are struggling to keep up."I try to catch the weekend sales and freeze meat," Kathy LeGoux, who lives in Palm Coast, Florida, with her husband, told CNN Business. "[I] can't buy a lot of fish because it's too expensive now."LeGoux, who is in her 60s, is retired, as is her husband. A high cost of living made them move from Nevada to Florida before the pandemic. But the high prices have followed them, she said. Retirees and others who live on fixed incomes get hit especially hard when prices go up like they have recently.LeGoux and her husband have postponed home improvement projects and no longer go on road trips, due to the cost of fuel."And the gas price rolls into food prices," she said. "We're not even talking about inflation any more here. It's more."Soaring food prices are a difficult problem to solve, according to Donald, especially when it's really a problem of global supply. Russia and Ukraine are huge exporters of grain and fertilizer. With trade hamstrung by the conflict, the global food supply chain has already started to feel the pain."The greatest risk facing global supply chains has shifted from the pandemic to the Russia-Ukraine military conflict and the geopolitical and economic uncertainties it has created," Moody's Analytics economist Tim Uy wrote in a report Thursday.For governments and central banks around the world, this is a new challenge for which typical policy changes that were used to fight inflation in the past might not prove as useful. The Federal Reserve's plan to raise interest rates and combat pandemic inflation, for example, will do little to change the dynamics of the global food supply. That also means it won't help the financial pain many Americans will feel as prices keep going up.Consumers' breaking pointThere is some good news: American households are better funded than in previous crises, which should help them absorb some of the price increases. During the pandemic, stimulus checks and altered spending patterns helped many households shore up their savings.But the more price spikes affect necessary products and services, people will need to reach deeper into their wallets, putting a strain on household finances. This will be particularly hard for lower-income Americans, who don't have excess savings as a result of the pandemic and for whom gas and energy costs generally make up a larger portion of their spending."A 10% increase in oil prices would shave 0.2% from discretionary spending," assuming a one-for-one response from consumers, said Jefferies chief economist Aneta Markowska.Since the start of Russia's invasion of Ukraine, US oil prices have risen more than 11%.That matters because consumer spending is the single most important driver of US economic growth. If people have less money to spend outside of necessities, that could weigh on economic growth this year.Even though the pandemic recession is firmly in the rearview mirror by now, economists are growing concerned the US could be heading toward a period of stagflation, during which low economic growth and high prices limit consumer spending.In short, the inflation situation is a headache for lawmakers and the American people alike. Meanwhile, questions are arising about the record profits companies have been reeling in during this time of high prices. Last week, the House Financial Services Committee held a hearing on the matter, showing some lawmakers are clearly concerned about corporate profiteering at the expense of working people who are seeing their hard earned money afford less and less.So far surging prices haven't driven customers away from their favorite stores, but that doesn't mean it won't happen in the future.Coca-Cola (COKE) CEO James Quincey said in February that consumers will only accept higher prices for so long. And rising gas prices could push people to their breaking point -- if they're not already there. When household finances become strained, nonessential items and big-name brands with a cheaper alternative are the first to go."It's easier to do pricing in a stimulus environment where everyone else is going up," he said at the time. "It's much harder when there's a real squeeze on income."

Beth Braverman

2022-03-11 14:53:51

business

success

https://www.cnn.com/2022/03/11/success/common-credit-score-myths/index.html

Common credit score myths and truths - CNN

You probably already know that you need a good credit score to get the best interest rates on a mortgage or auto loan, which can make a big difference to your budget over time.

success, Common credit score myths and truths - CNN

Don't believe these 8 common credit score myths

You probably already know that you need a good credit score to get the best interest rates on a mortgage or auto loan, which can make a big difference to your budget over time. "With something like a mortgage, even a minor difference in rates can have a big impact on your monthly payment and can mean tens of thousands of dollars or more over the life of the loan," said Justin Pritchard, a certified financial planner and founder of Approach Financial. But that's just the beginning of how the three-digit number impacts your financial life. Your credit score, a rating of your credit worthiness, can also affect the rate that you pay for insurance, your cell phone plan, and even your ability to land certain types of jobs.But despite the importance of credit scores, they remain widely misunderstood. Here's a look at several common misconceptions.Read More#1: Carrying a credit card balance will improve your score Nearly 60% of consumers believe this myth, according to a recent survey by US New & World Report. One of the main factors in determining your credit score is your credit utilization ratio, or the percentage of your available credit that you're using at any given time. The lower the number, the better -- but aim to keep it under 30%.What will my monthly mortgage payment be?"You don't want to carry a balance, because that's just pushing up your utilization ratio," said Jirayr R. Kembikian, a certified financial planner with Citrine Capital. #2: There's only one credit scoreWhile FICO is the most popular score provider, different types of lenders use different versions of the score. Plus, a growing number of lenders work with FICO competitors, such as VantageScore. "There are many, many different credit scores out there, and the score that you just saw might not be the same one lenders see when they're examining your creditworthiness," said Matt Schulz, chief credit analyst at LendingTree. Even if the scores are slightly different, they should trend in the same direction, Schulz added. So if one score drops significantly and the other does not, that could indicate a mistake or other issue in one of your credit reports.#3: It costs money to check your creditYou can get your credit reports from the three major credit agencies, Equifax, Experian and TransUnion, every week for free at annualcreditreport.com. Most experts suggest checking your reports at least once per year to look for errors or evidence of identity theft, and federal law requires that the agencies allow you to do that for free. The credit agencies began offering weekly access to reports during the pandemic, but that could end soon.How long will it take to pay off my credit cards? "One of the best ways to improve your credit score is to fix mistakes on your credit report," said Schulz. "People would be surprised how often mistakes happen." Credit reports do not include your score, but you can still get free access to certain scores through websites like LendingTree and Credit Karma, or through your credit card issuer.#4: Closing your old credit cards can boost your scoreThe length of your credit history is another factor that goes into your credit score. So, keeping your oldest cards open, and occasionally using them (and paying them off) helps rather than hurts your score.Likewise, closing an account will damage your score. #5: Your spouse's score can impact yoursCredit scores are for individuals, not couples. While lenders will look at both of your scores if you apply for a joint credit card or mortgage, your scores are separate. So if your spouse has a low score, it won't affect any credit you apply for in your own name. #6: Opening a new card will hurt your creditAny new credit, including credit cards, will result in a short-term ding to your credit, but it won't affect your score long-term. It's the inquiry that the new lender performs that will likely take a few points from your score, but if you have good credit it should recover quickly. "If you have several years of good credit behind you, you don't need to worry about opening a new card, as long as you're not planning to get a mortgage in the next few months," Pritchard said.#7: A higher income means a higher scoreWhile lenders will consider your income when deciding the size of a loan to give you, how much money you earn is not a factor that credit agencies use to determine your score. How much do I need for emergency savings? "You can have someone with a lower income and an excellent credit score, and you can also have the opposite -- someone with a super high income and a terrible score," Kembikian said.#8: Co-signing on a loan won't affect your creditFrom a credit agency's point of view, co-signing a loan is the same thing as taking out a loan on your own. That loan balance will impact your credit utilization ratio, and late payments will hurt your credit score. "If the person you're co-signing for is not responsible and doesn't pay their debt, for any reason, that can have a gigantic, negative impact on your credit score," Kembekian said.

Anna Bahney, CNN Business

2022-03-10 15:10:06

business

homes

https://www.cnn.com/2022/03/10/homes/us-mortgage-rates-march-10/index.html

Mortgages rates are on the rise again amid inflation fears - CNN

Mortgage rates are rising again amid fears of soaring inflation. The 30-year fixed-rate mortgage averaged 3.85% in the week ending March 10, up from 3.76% the week before, according to Freddie Mac.

homes, Mortgages rates are on the rise again amid inflation fears - CNN

Mortgages rates are on the rise again amid inflation fears

Mortgage rates are rising again amid fears of soaring inflation. The 30-year fixed-rate mortgage averaged 3.85% in the week ending March 10, up from 3.76% the week before, according to Freddie Mac.Inflation fears and geopolitical uncertainty are both having an impact, said Sam Khater, Freddie Mac's chief economist."Over the long-term, we expect rates to continue to rise as inflation broadens and shortages increasingly impact many segments of the economy," said Khater. "However, uncertainty about the war in Ukraine is driving rate volatility that likely will continue in the short-term."What will my monthly mortgage payment be?The 30-year rate rebounded this week following a jump in the 10-year Treasury, which topped 1.95%, said George Ratiu, Realtor.com's manager of economic research."Investors worried about mounting inflation stemming from a likely ban on Russian oil imports amid a spike in the price of US crude to more than $130 per barrel, the highest point in 13 years," he said. Read MoreInflation continued accelerating in February at the fastest pace in 40 years, sparking broader concerns about a consumer spending pullback in the months ahead, Ratiu said. Prices kept rising last month, pushing a key inflation measure to a level not seen since January 1982.All eyes are on the Federal Reserve which meets next week and is expected to increase the federal funds rate in an attempt to curb inflation."The big question on many analysts' minds is whether a 25-basis point hike will be enough given the significant shortage of labor and inflation at levels not seen since the 1980s," said Ratiu.Should I refinance my mortgage?The real estate market continues to experience accelerating prices and record low inventory as the spring sales season heats up.At today's rate, the buyer of a median-priced home is facing a mortgage payment that is more than $290 per month higher than a year ago, according to Realtor.com "With not enough homes for sale, both first-time buyers and homeowners looking for a trade-up home are locked in place by surging prices and higher interest rates," said Ratiu. "The real challenge for Americans is that the high inflation is eating away at the growth in wages and salaries, on top of spiking housing and living costs."

Anna Bahney, CNN Business

2022-03-09 17:30:12

business

homes

https://www.cnn.com/2022/03/09/homes/us-homeowner-wealth-gap/index.html

As home values soar, the wealth gap grows even bigger - CNN

Homeowners saw massive increases in wealth over the past decade, but most of the gains went to the wealthiest US households.

homes, As home values soar, the wealth gap grows even bigger - CNN

As home values soar, the wealth gap grows

(CNN)Homeowners saw massive increases in wealth over the past decade, but most of the gains went to the wealthiest US households. As home prices soared, housing wealth increased by $8.2 trillion over a decade, rising to $24.1 trillion in 2020 from $15.9 trillion in 2010, according to a new report from the National Association of Realtors. But low- and middle-income households saw a smaller share of the gains. While a majority (71%) of the wealth accumulation went to high-income earners, middle-income households saw only 26%, and low-income households saw just 4%.Home prices skyrocketed last year. Two regions saw the biggest increasesIn addition, home prices have appreciated so rapidly in some metro areas that new low- and middle-income buyers are priced out of the market entirely.Phoenix saw the biggest price increase over the decade, that concluded at the end of 2021, with a 275% increase. It was followed by Atlanta; Las Vegas; Cape Coral, Florida; and the towns of Riverside and San Bernardino in California, all of which had increases of more than 200%.Read More"These escalating home values were no doubt beneficial to homeowners and home sellers," said Lawrence Yun, NAR chief economist. "However, as these markets flourish, middle-income wage earners face increasingly difficult affordability issues and are regrettably being priced out of the home-buying process." Benefits of homeownershipHomeownership is often the leading source of wealth among families, and its benefits can be powerful."Owning a home continues to be a proven method for building long-term wealth," said Yun. "Home values generally grow over time, so homeowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage." The Black homeownership rate is now lower than it was a decade agoFor example, if you bought a typical single-family home 10 years ago for the median price of $162,600, you're likely to have accumulated $229,400 in housing wealth, according to NAR. Though the middle-class homeownership rate fell overall, the number of middle-income homeowners increased in over half of the 917 metro areas in NAR's analysis. In order to determine which areas had a rising middle class, NAR looked for housing markets that had the greatest growth in middle income, owner-occupied homes between 2010 and 2020. Researchers defined a middle-class household as one earning an income of more than 80% to 200% of the area median income.The top 10 cities with increasing middle-income households during that decade were Phoenix; Austin; Nashville; Dallas; Houston; Atlanta; Orlando; Portland, Oregon; Seattle and Tampa. "Middle-income households in these growing markets have seen phenomenal gains in price appreciation," said Yun. "Given the rapid migration and robust job growth in these areas, I expect these markets to continue to see impressive price gains."Challenges for middle- and low-income buyersBut there were also several large cities that saw a drop in middle-class households over the past decade. These include New York, Los Angeles, Chicago, Boston, Detroit, and Philadelphia. In these and other cities where home prices are rapidly rising, middle- and low-income buyers have struggled to get into the market.Low-income homeowners comprised a smaller fraction of all homeowners in 2020, at just 27%, the NAR research found, down from 38% in 2010. How much house can I afford? While middle-income homeowners increased in number over the decade, they represented a smaller share of homeowners in 2020, at 43%, down from 45.5% in 2010. The share of high-income homeowners grew, rising to 30%, up from 16.4% in 2010. That is 11.1 million more high-income households in 2020 compared to 2010."Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability," said Leslie Rouda Smith, a real estate agent from Plano, Texas, and a broker associate at Dave Perry-Miller Real Estate in Dallas, who is the NAR President. "Now, we must focus on increasing access to safe, affordable housing and ensuring that more people can begin to amass and pass on the gains from homeownership."

Beth Braverman

2022-03-07 15:31:57

business

success

https://www.cnn.com/2022/03/07/success/how-to-start-401k/index.html

Congrats on Your First Job! Here's What You Need to Know About Your 401(k) - CNN

There are countless things you need to think about when you get your first full-time job: How to make a good impression on your boss, connect with your colleagues and figure out how to spend that first paycheck.

success, Congrats on Your First Job! Here's What You Need to Know About Your 401(k) - CNN

Congrats on your first job! Here's what you need to know about your 401(k)

There are countless things you need to think about when you get your first full-time job: How to make a good impression on your boss, connect with your colleagues and figure out how to spend that first paycheck.One thing that may not be top of mind: setting up your retirement account. But making sure you're taking full advantage of your 401(k), or any other employer-sponsored retirement account your job might offer, is one of the most important steps you can take for your future financial security. That's because every dollar you sock away now in a 401(k) will be worth much more than dollars saved later, thanks to the magic of compounding. That's when the money earned from your investments starts to generate more earnings, allowing those early deposits to grow exponentially."Even small amounts that you can save now have the power to grow substantially over 40 years," said Kara Duckworth, a certified financial planner and managing director of client experience for Mercer Advisors in Newport Beach, California. "The earlier you start the better."Read MoreFollow these steps to make sure you're making the most of this powerful tool:Contribute at least enough to get the company match (and boost your contributions over time)To motivate employees to save for retirement, many companies will match the money you contribute to your 401(k), up to a set amount. Among employers who match a portion of retirement savings, the median employer contribution is 6% of an employee's salary, according to the Bureau of Labor Statistics. At a minimum, aim to save enough in your plan to get that match, since it's essentially free money from your employer and a 100% return on your investment."The hardest thing about saving for retirement is just getting started," said Ben Barzideh, a wealth adviser at Piershale Financial Group in Barrington, Illinois. "Once you set it up, very quickly after a few paychecks, you just get used to living on the new net amount, just as you do with taxes." You know your salary. But how much are you really making? Calculate your total compensationYou'll want to gradually increase the amount you save over time until you're at 10-15% of your income. One strategy for doing that is to boost your savings rate every time you get a raise, so you won't feel as much of a bite out of your paycheck. Build a diverse portfolio, with a focus on stocksMost 401(k) plans have several different diversified funds from which you can select. Diversification is important, since owning many different assets can protect you from swings in the price of any single investment. But when you're saving for a goal (like retirement) that's decades away, most advisers say you'll want more of your portfolio in stocks, which have historically performed better than most other asset classes over the long term.Not sure where to start? See if your plan offers a target-date fund, which will automatically build an appropriate portfolio for you based on your projected retirement age. The allocation will gradually shift away from stocks to more conservative investments, such as bonds, as your retirement date gets closer.Consider the Roth optionMost 401(k) plans now allow investors to choose whether they want to contribute to a traditional 401(k) or a Roth 401(k). 'Backdoor' Roth restrictions have been put on hold -- for nowContributions to a Traditional 401(k) go in tax-free and grow tax-free, but you'll pay taxes on withdrawals in retirement. For a Roth 401(k) contributions go in after-tax, but you'll owe no taxes on growth or future withdrawals.In general, the Roth option makes sense for those who think they'll be in a higher tax bracket in retirement, either because they have more income or because tax rates have gone up. If you're not sure, splitting your contributions across the Roth and traditional 401(k) can provide you with more flexibility later.Take advantage of any other financial benefits your company offersIn addition to the 401(k), a growing number of companies now also offer a range of other financial benefits to employees, including student loan assistance, Health Savings Accounts, and one-on-one financial advice. Participate in as many of these programs as you can. "For young people living paycheck to paycheck, there's no one-size-fits-all answer to managing your finances," said Edward Gottfried, director of product at Betterment's 401(k) business. "Make sure your paycheck allows you to pay down your student loans while you're socking away money for retirement and continuing to stay on top of debt and month-to-month expenses."How much do I need to save for retirement? Once you've addressed other financial challenges in your life, you can contribute more to your retirement account without worrying that you may need the money in the short term.Take it with you when you goWhile you're likely not yet thinking about your next step on the career ladder, most employees in today's economy change jobs several times throughout their working life. You have a few options for your 401(k) when you leave your job, including rolling it into an individual retirement account (IRA) or a 401(k) at your new employer. What will my take-home pay be? One option to avoid, if possible: cashing it out entirely. Withdrawing from a 401(k) before you reach retirement age can result in tax penalties -- and leave you with a smaller nest egg in your golden years.

Jeanne Sahadi, CNN Business

2022-03-04 17:24:02

business

success

https://www.cnn.com/2022/03/04/success/savings-investments-russia-geopolitical-uncertainty/index.html

How to manage your money amid global unrest - CNN

With Russia's internationally condemned invasion of Ukraine, one thing is certain: No one knows exactly how things will play out.

success, How to manage your money amid global unrest - CNN

How to manage your money amid global unrest

With Russia's internationally condemned invasion of Ukraine, one thing is certain: No one knows exactly how things will play out. So far that disturbing uncertainty hasn't sent markets into a sustained tailspin. US stocks took a hit the week of the invasion, but have since recovered some of those losses. But the market is likely to experience volatility as events unfold. "It's hard to call this one," said Florida-based certified financial planner Mari Adam. "We just don't know."But if you've been concerned about whether the geopolitical turmoil might negatively affect your savings and investments, here are a few ways to assess your situation and guard against potential losses.Don't trade on the headlines Read MoreRapid-fire news reports about soaring energy and food prices or talk of a potential world war or nuclear attack are unnerving. Oil price shocks cause recessions. Will this one do the same?But history often shows that making financial decisions based on an emotional response to major events is often a losing proposition long term."Making a radical change in the midst of all this uncertainty is usually a decision that [you'll] regret," said Don Bennyhoff, chief investment officer for Liberty Wealth Advisors and a former investment strategist at Vanguard.Look back at periods of war and other crises in the last century and you'll see that stocks typically came back faster than anyone might have expected in the moment, and did well on average over time.For example, since the financial crisis hit in 2008, the S&P 500 returned 11% a year on average through 2021, according to data analyzed by First Trust Advisors. The worst year in that period was 2008, when stocks fell 38%. But in most of the years that followed, the index posted a gain. And four of its annual gains ranged between 23% and 30%.If you go back as far as 1926, that annual average return on the S&P has been 10.5%. "Staying the course may be hard on your nerves, but it can be healthiest for your portfolio," said Rob Williams, managing director of financial planning, retirement income and wealth management at Charles Schwab.That's not to discount the seriousness of nuclear threats and the chance that this period could diverge from historical patterns. But were things to truly escalate globally, Williams noted, "we'd have more to be concerned about than our investment portfolios."Instead of making changes based on your reaction to the latest events, first review your financial situation holistically.Cover your near-term cash needsIt's always a good idea, but especially when confronted with big events beyond your control, to make sure you have liquid assets for your most urgent needs.That means enough money set aside in cash, money market funds or short-term fixed income instruments to cover near-term tax payments, unexpected emergencies and any big, upcoming expenses (e.g., a down payment or tuition). This is also advisable if you are near or in retirement, in which case you may want to have enough liquidity to cover a year or more of the living expenses that you would ordinarily pay for with withdrawals from your portfolio, Williams said. This should be the amount you would need to supplement your fixed income payments, such as Social Security or a private pension. In addition, Williams suggests having two to four years in lower volatility investments like a short-term bond fund. That will help you ride out any market downturn should one occur and give your investments time to recover.Review your risk toleranceIt's easy to say you have a high tolerance for risk when the S&P 500 keeps setting record highs. But you have to be able to stomach the volatility that inevitably comes with investing over time.So review your holdings to make sure they still align with your risk tolerance for a potentially rockier road ahead. And while you're at it, figure out what it means to you to "lose" money. "There are many definitions of risk and loss," Bennyhoff said. What is a financial coach and who really needs one?For instance, if you're keeping money in a savings account or CD, any interest rate you're earning is likely being outpaced by inflation. So while you preserve your principal, you lose buying power over time. Then again, if it's more important to preserve principal over a year or two than risk losing any of it -- which could happen when you invest in stocks -- that inflation-based loss may be worth it to you because you're getting what Bennyhoff calls a "sleep-easy return."That said, for longer-term goals, figure out how much you feel comfortable putting at some risk to get a greater return and prevent inflation from eating away at your savings and gains."Over time you're better off and safer as a person if you can grow your wealth," Adam said.Rebalance your portfolioGiven record stock returns in the past few years, now may be a good time to rebalance your portfolio if you haven't done so in a while. For instance, Adam said, you may be overweight in growth stocks. To help stabilize your returns going forward, she suggested maybe reallocating some money into slower-growing, dividend-paying value stocks through a mutual fund.Make new investments slowlyIf you have a large lump sum -- maybe you just sold your business or house, or you got an inheritance or big bonus -- you may wonder what to do with it now.Given all the global uncertainty, Adam recommends investing it in smaller chunks periodically -- e.g., every month for a given period of time -- rather than all at once. "Space out your investing over time since this week's news will be different than next week's news," she said.Reassess assumptionsIn the months leading up to Russia's invasion of Ukraine, the expectation was that the Federal Reserve would be hiking interest rates multiple times this year to curb high inflation. Now? Maybe not as much. "The near-term effects on the US economy of the invasion of Ukraine, the ongoing war, the sanctions, and of events to come, remain highly uncertain," Federal Reserve Chairman Jerome Powell told lawmakers on Wednesday. "Given the current situation, we need to move carefully."That could push government bond prices higher and rates lower, should investors seek US Treasurys as a safe haven on a sustained basis. And it could mean that interest rates on savings may not move as high as they might have when everyone expected the Federal Reserve would hike rates substantially this year.Do your best. Then 'let go'Keep in mind: It's impossible to make perfect choices since no one has perfect information."Collect your facts. Try to make the best decision based on those facts plus your individual goals and risk tolerance." Adam said. Then, she added, "Let go."(If you want to help Ukrainians who have had to flee or who stayed behind to fight, here's a growing list of organizations to which you can make a donation.)

Anna Bahney, CNN Business

2022-03-03 15:24:48

business

homes

https://www.cnn.com/2022/03/03/homes/us-mortgage-rate-march-3/index.html

Conflict in Ukraine pushes mortgage rates lower - CNN

Russia's invasion of Ukraine helped send mortgage rates lower last week. This is the second week in a row rates have fallen, reversing weeks of increases that pushed rates close to 4%.

homes, Conflict in Ukraine pushes mortgage rates lower - CNN

Conflict in Ukraine pushes mortgage rates lower

Russia's invasion of Ukraine helped send mortgage rates lower last week. This is the second week in a row rates have fallen, reversing weeks of increases that pushed rates close to 4%.The 30-year fixed-rate mortgage averaged 3.76% in the week ending March 3, down from 3.89% the week before, according to Freddie Mac.Rates fell as a result of receding US Treasury yields this week, as investors moved to the safety of bonds due to growing tensions between Russia and Ukraine, said Sam Khater, Freddie Mac's chief economist. "While inflationary pressures remain, the cascading impacts of the war in Ukraine have created market uncertainty," Khater said. "Consequently, rates are expected to stay low in the short-term, but will likely increase in the coming months."What will my monthly mortgage payment be?Experts and analysts had forecasted a fairly steady rise for mortgage rates this year, but Russia's invasion of Ukraine followed by severe economic sanctions has created uncertainty.Read More"Investors are concerned about the deepening Russia-Ukraine conflict and rising oil prices, and are wary of spillover effects from rising economic sanctions," said George Ratiu, Realtor.com's manager of economic research.He said that markets have their eyes on mounting inflation and an expectation that the Federal Reserve will proceed with a 25-basis-point hike at its upcoming meeting later this month."Market volatility and rising oil prices are likely to push bond yields into larger swings, while inflation will keep upward pressure on mortgage rates," Ratiu said.Mortgage applications are fallingMortgage applications decreased during the last full week of February, according to the Mortgage Bankers Association, partially in response to climbing rates.Applications for loans to purchase a home remained weak, said Joel Kan, MBA's associate vice president of economic and industry forecasting. Meanwhile, the average loan size increased again -- to a new record of $454,400 -- an indication that home prices are still rising and a greater share of mortgage activity is occurring at the higher end of the market, he said.Should I refinance my mortgage?"We will continue to assess the potential impact on mortgage demand from the sharp drop in interest rates this week due to the invasion of Ukraine," he said. Meanwhile, Ratiu said, real estate markets are seeing an early start to the spring buying season, with unseasonably high demand and record low inventory continuing to push home prices higher. "At today's rate, the buyer of a median-priced home will pay over $278 per month more than a year ago on their mortgage payment," Ratiu said. "Surging prices and higher rates are creating challenges for first-time buyers looking for a home, causing them to make difficult choices in light of higher monthly costs for food, gasoline, clothing, cars and health care."

Beth Braverman

2022-03-01 15:24:06

business

business-money

https://www.cnn.com/2022/03/01/business/money/where-to-save/index.html

Ready to start saving? Do it in this order - CNN

One of the most important things you can do when it comes to securing your financial future is to consistently live below your means. Once you've done that, however, the next step is to take any leftover cash -- whether it's a few dollars or a few hundred dollars -- and put it to work.

business-money, Ready to start saving? Do it in this order - CNN

Ready to start saving? Do it in this order

One of the most important things you can do when it comes to securing your financial future is to consistently live below your means. Once you've done that, however, the next step is to take any leftover cash -- whether it's a few dollars or a few hundred dollars -- and put it to work. Experts agree that most people should have savings and investments in a variety of different types of accounts to save for various goals while taking advantage of certain tax benefits. Financial experts generally advise saving 10% to 15% of your income, but if that's not possible right now, start setting aside whatever you can and increase the amount over time. How much do I need to save for retirement? The exact order in which you save will depend on your personal financial picture and goals, but when you're first starting to build your savings, the goals are: Get into the habit of saving for the long-term, take advantage of free money available through your workplace benefits, and make the most of tax-free savings. To do that, here's where you'll want to focus your money:An emergency fundAim to set aside at least three months' worth of total living expenses in a safe, liquid account you can access without any penalties if you lose your job or have an unexpected expense, like your car breaks down or your roof starts leaking. An emergency funds is typically held in a savings or money market account. Read MoreHigh-interest debtsWhile it's technically not saving or investing, paying off high-interest debt should also be a top priority. "I'd prioritize any debt with an interest rate over 10%," said Peter Hunt, a certified financial planner and director of client services at Exencial Wealth Advisors. "That's a risk-free 10% return."Your workplace 401(k), up to any employer matchMoney in your 401(k) account goes in tax-free and grows tax free until you take it out in retirement. Many employers match a percentage of employees' contributions up to a certain amount."Depending on the matching schedule, [the company contributions could provide] an 80% to 100% return," Hunt said. "You're not going to beat that anywhere else." Contribute at least enough to get any employer match offered. If your employer does not have a match, you might want to focus first on paying down high-interest debt and building an emergency fund. What is a financial coach and who really needs one?A Health Savings AccountIf you have a high-deductible health plan through work, you might also have access to a health savings account. (High-deductible health plans are defined as those with a deductible of at least $1,400 for an individual or $2,800 for a family.) Money goes in tax-free, grows tax-free, and comes out tax-free if you use it for qualified medical expenses. "On the tax merits alone, it's hard not to put the HSA at the top of the heap as the best tax-advantaged vehicle you could possible employ," said Christine Benz, director of personal finance at Morningstar.This year, you can put $3,650 into an HSA account if you have an individual high-deductible plan, and up to $7,300 if you have a family plan. Max out your 401(k) or other retirement savings accountsOnce you have your basic savings plans in order you can start really boosting your retirement savings. You can stash up to $20,500 in a 401(k) account. Even if you don't have access to a 401(k), you can still save money for retirement through an Individual Retirement Account (IRA), although the contribution limits are lower."I think of retirement accounts as a use-it-or-lose-it opportunity every year," says Marcus Blanchard, a certified financial planner and founder of Focal Point Financial Planning. "If you don't use it up to the limit, that's a lost opportunity for the year."A liquid account for short-term savings goalsYou'll want to set aside money that you need in the next three to five years, such as for a home down payment or to pay for graduate school, in a safe account like a high-yield savings account or money market account, where the returns are low, but your principal is fairly safe."In general, you want to save in short-term investment vehicles for short-term goals, and long-term investments for long-term goals," said certified financial planner Clark Kendall, who runs wealth management firm Kendall Capital in Baltimore, Maryland. The best budgeting apps of 2022Lower-interest loansAgain, debt repayment is not technically saving or investing, but paying down debt like student loans or auto financing can improve your cash flow, boost your credit score, and give your more financial flexibility over time. A taxable brokerage accountIf you still have money left over after you've funded your short-term goals and you're on your way to your long-term objectives, you can take the next steps in investing. A taxable investment account is a great place to put cash when you've maxed out your retirement accounts. "That's where you're investing for the long haul, for at least five years, but you have liquidity if you need it," says Lazetta Braxton, co-CEO of 2050 Wealth Partners. 529 college savingsIf contributing to your children's college education is important to you, a 529 account is a great vehicle for savings. Money invested grows tax free and can be withdrawn tax free as long as it's used for qualified education expenses. Just make sure you're on track for your own retirement and goals first. Correction: An earlier version of this story misstated the definition of a high deductible health plan for individuals. Individuals health plans with deductibles of at least $1,400 are considered to be high-deductible and are eligible for a Health Savings Account.

Alicia Wallace, CNN Business

2022-03-01 11:00:25

business

economy

https://www.cnn.com/2022/03/01/economy/child-care-wells-fargo-labor-force/index.html

Half a million families are stranded due to the shortage of child care workers - CNN

Nearly half a million families are estimated to be stranded without reliable child care, exacerbating the nation's worker shortage as parents continue to stay home, according to a new report.

economy, Half a million families are stranded due to the shortage of child care workers - CNN

Child care worker shortage strands half a million families

San Francisco (CNN Business)Nearly half a million families are estimated to be stranded without reliable child care, exacerbating the nation's worker shortage as parents continue to stay home, according to a new report.The report, published by Wells Fargo economists on Tuesday, adds to a growing cache of economic evidence highlighting job losses in the sector and the ripple effects the nation's beleaguered child care industry continues to have on the US economy. "Access to childcare has been shown time and again to boost labor force participation among mothers," the authors wrote. "For employers struggling to find workers now and facing a future of dismal labor supply growth, improving childcare options for parents means a larger and more experienced workforce to draw upon."Employment in the day care services industry remains 12.4% below its pre-pandemic level, as compared to a total employment deficit of 1.9%. By Wells Fargo's estimates, that leaves about 460,000 families scrambling to find reliable long-term child care."It's not to say that all [460,000] of them are unable to work, but it means that they're going to have to find different child care arrangements, whether that's the higher cost of nannies, whether that's relying on families," Sarah House, Wells Fargo senior economist and lead author of the report, said in an interview with CNN Business. Read MoreChild care workers are vanishing and it's hurting the entire economy"And for some, it also means perhaps not being in the workforce the way that they have imagined if they can't find that access to child care," she added.Bearing the brunt of those challenges have been women, especially those with young children.Women with children younger than 3 years of age have a labor force participation rate that's 28 percentage points below men with children under 6 years old, House said, noting the federal employment data does not include men with children under 3 years of age. If the labor force participation rate for those women equaled that of women with school-aged children (ages 6 to 17 years old), the labor force would gain 1 million more workers, the report found. Additionally, no industry has a greater share of female employees than the day care services industry, where women account for 96% of workers, she said. While the child care and early education industry need more workers, some significant barriers persist, House said: notably, low pay and health risks associated with the ongoing pandemic.In 2020, the average pay for a child care worker was below $12.25 per hour, landing among the lowest paid occupations, according to the Bureau of Labor Statistics. Last month, a report from the Center for the Study of Child Care Employment at the University of California, Berkeley, found that many child care industry employees in California earn below or near federal poverty wages, resulting in about one-third of these workers relying on some form of government assistance. "For decades, low levels of public investment in this sector have kept the early care and education workforce -- largely women of color and immigrant women -- in a grim financial bind," the University of California, Berkeley researchers wrote.Direct federal spending on child care and early education totaled about $29.7 billion in 2021, up from $20.6 billion in 2019, according to the Wells Fargo report. The amount of federal child care spending in 2019 was less than 4% of spending by the Department of Defense and 3% of Medicaid and Medicare, the economists noted.Within the child care industry exists a "pay paradigm," the report said: Child care is expensive for parents, yet the pay for workers and early educators is substandard, according to the report. Child care services cost, on average, $11,000 per year, or about 14% of the median household income for a family with a child under 6 years of age -- but the actual costs can run much higher. The average pay for a child care industry worker was about $25,060 in 2020. "With tuition already demanding such a substantial share of family income, daycare centers are hard pressed to meaningfully raise pay," the authors wrote.Sweeping federal funding for child care has been proposed by President Joe Biden and included in the Build Back Better Bill passed by the House of Representatives in November. However, with that plan currently stalled, the $800 billion the bill proposes to spend over the next 10 years has been waylaid.One solution floated by House and her fellow economists is to treat the child care industry like public education: tax-funded K-12 systems, community colleges and universities."But so much of this is past dependency in that we haven't done it in the past, so that makes it really hard to do it now," she said. It leaves the issue more in the hands of states, House said, adding that incremental process -- as opposed to wholesale change -- is more likely to occur."[At the state level] is where the momentum lies, in terms of the policy experimentation and chances to try and expand access to early child care and education," she said.

Anna Bahney, CNN Business

2022-02-22 11:45:23

business

homes

https://www.cnn.com/2022/02/22/homes/us-rent-january-buy-or-rent/index.html

Buying a home is more affordable than renting in these cities - CNN

Across the US rent is rising so fast that in many cities buying has become more affordable than renting, even with sky-high home sale prices.

homes, Buying a home is more affordable than renting in these cities - CNN

Buying is more affordable than renting in these cities

Across the US rent is rising so fast that in many cities buying has become more affordable than renting, even with sky-high home sale prices.The national median rental price jumped 19.8% in January from a year ago, marking the eighth straight month of double-digit increases, according to a report from Realtor.com. The national median rent was $1,789 last month."US rental markets are more than making up for lost time," said Danielle Hale, chief economist at Realtor.com. Rents have now gone up 21% from January 2020, prior to the onset of the pandemic. January's biggest rent jump was in the Miami, Fort Lauderdale and West Palm Beach areas of Florida where the median rent was $2,895 a month in January, up 52.4% from last year. Miami is now the fifth most expensive place to rent in the country after several cities in California: San Jose, San Diego, Los Angeles and San Francisco.The report found that the monthly cost of buying a starter home was more affordable than renting a similar-sized unit in more than half of the 50 biggest US cities.Read MoreWhile many people looking for an affordable place to live feel stuck between a rock and a hard place as both rent and homebuying costs are rising, a number of factors could tip the affordability scale in favor of people buying a home for the first time this year, Hale said.Rents are forecast to outpace for-sale listing price growth in 2022 and are already accelerating across all sizes of rentals. Additionally, she said, survey data shows the majority of landlords plan to further raise the rents they ask this year. Where it's better to buyLooking at national median home prices and rents, the monthly cost of renting is still slightly cheaper than owning a starter home, the report found. But in 26 of the 50 biggest cities, the monthly cost of buying a starter home was an average of 20.6% -- or $323 -- less than renting one in January, according to Realtor.com.Buying was most advantageous in Birmingham, Alabama, where the cost of buying a starter home was 44.3% less than the cost of renting in January. It was followed by Cleveland, Pittsburgh, and St. Louis. Should I rent or buy a home?Two cities in Florida -- Tampa and Orlando -- saw some of January's fastest annual rent growth. In Orlando, buying was 27.1% less than renting and in Tampa, buying was 25.5% less.Just because it is better to buy in a city doesn't mean home prices aren't also making strong gains -- often it is both. In eight of the top 10 markets favoring buying, both the monthly cost of buying a starter home and renting one increased over the past year, according to the report. The rent-or-buy decision ultimately depends on personal circumstances, including location, financial situation and how long a buyer intends to live in the home. Generally it is not financially favorable to buy if you plan to live in your home less than a few years and a common rule of thumb is to not spend more than 30% of your income on housing costs, Hale said.Plus, buying a home is a lot easier said than done in many markets, as the inventory of homes to buy is at a record low.And as mortgage rates continue climbing, the clock is ticking. Those looking to buy their first home in 2022 are more likely to find lower costs now than later in the year, said Hale. But inventory isn't expected to improve until later this spring.Where renting is betterGiven the skyrocketing increase in home prices in some major cities, there are many places where it remains more affordable to rent rather than to dive into the high-priced, competitive housing market, according to the report.In January, the monthly cost of buying was about 25% higher -- or $536 more -- than the cost of renting in 24 of the 50 largest metro areas, on average. How much house can I afford? Austin, Texas, was the city where it was most beneficial to rent rather than buy in January. Monthly payments were about 76% higher -- or $1,346 more -- to buy a starter home in Austin than to rent, according to the analysis. It was followed by New York; San Francisco; San Jose; Seattle; Boston; Denver; Rochester, New York; Portland, Oregon; and Los Angeles.In these top ten cities that favored renting, the monthly payments of buying a starter home were 41.6% -- or $978 higher than rents -- on average. For-sale starter homes in those places included a higher average share of condos than the national rate, and pricier home owner association fees. "Deciding when to transition from renting to first-time buying is largely dependent on stage of life," said Hale. "For young Americans like Gen Z who may have moved home to save money during Covid, renting in a big tech city offers flexibility and relative affordability even as rents recover in these areas."

Anna Bahney, CNN Business

2022-02-17 15:08:48

business

homes

https://www.cnn.com/2022/02/17/homes/us-mortgage-rates-feb-17/index.html

Mortgage rates jump to nearly 4% - CNN

Mortgage rates increased again, rising to a level not seen since summer 2019.

homes, Mortgage rates jump to nearly 4% - CNN

Mortgage rates jump to nearly 4%

Mortgage rates increased again, rising to a level not seen since summer 2019.The 30-year fixed-rate mortgage averaged 3.92% in the week ending February 17, up from 3.69% the week before, according to Freddie Mac. It has not been this high since May 2019 when it was at 3.99%.Mortgage rates jumped again because of high inflation and stronger than expected consumer spending, said Sam Khater, Freddie Mac's chief economist. "As rates and house prices rise, affordability has become a substantial hurdle for potential homebuyers, especially as inflation threatens to place a strain on consumer budgets," said Khater.How much house can I afford? The increase last week followed the recent rise in Treasury yields, which have moved higher due to inflationary pressures and market expectations of more aggressive policy moves by the Federal Reserve, said Joel Kan, the Mortgage Bankers Association's associate vice president of economic and industry forecasting.Read MoreAs mortgage rates rise refinancing benefits fewer homeowners. As a result, the share of applications that were refinances was at its lowest level since July 2019, Kan said, adding that refinance applications fell 9% last week and stood at around half of last year's pace. Applications for mortgages to purchase a home also saw a decline over the week, Kan said. "Prospective buyers still face elevated sales prices in addition to higher mortgage rates," Kan said. The mix of more conventional loans has pushed the average loan size to yet another record of $453,000, he noted.Rising home prices combined with limited inventory have created a one-two-punch for buyers, with fewer homes affordable to buyers based on their income level, said Danielle Hale, Realtor.com's chief economist.That was the case even before mortgage rate increases, which have upped the monthly cost of the typical $375,000 home listing by roughly $115 since December, she said. "Looking ahead, we expect rising incomes to help home shoppers navigate rising housing costs, but buyers will also likely have to make compromises to be successful," said Hale.

Beth Braverman

2022-02-14 15:45:54

business

business-money

https://www.cnn.com/2022/02/14/business/money/market-volatility/index.html

3 steps to dealing with market volatility - CNN

The last few weeks have served as a stark reminder that stocks can be volatile — sometimes extremely so.

business-money, 3 steps to dealing with market volatility - CNN

3 steps for dealing with market volatility

The last few weeks have served as a stark reminder that stocks can be volatile — sometimes extremely so. The S&P 500 fell by more than 5% in January, its worst performance since the pandemic began, and markets remained choppy through the first two weeks of February. Experts expect the volatility to continue going forward, amid concerns about inflation and rising interest rates, geopolitical uncertainty, and the ongoing pandemic. "There are a lot of headwinds," said Craig Ferrantino, founder of Craig James Financial Services in Melville, New York. "Some of it is temporary, but some of it might take a long while to clear out. There is a lot of economic uncertainty."Market volatility can be a good thing for long-term investors who dollar-cost average -- meaning they contribute regularly to their investment accounts over time -- since it allows them to hedge their risk by buying stocks at both the highs and lows, smoothing out the returns.But recent market performance has some investors anxious about a potential correction, during which the market falls by 10% or more from recent highs. Read More"For the average retirement investor who doesn't have an adviser reminding them during the upcycles that there is going to be a correction, it can be a scary time," said Deborah Meyer, a certified financial planner and CEO of WorthyNest. "That's especially true for you millennials who haven't been through a market crash before."If you're worried about your investments, take a deep breath and then follow these steps:1. Take money you need in the short-term out of the marketExperts advise against keeping any money you will need in the next five years (or sooner) out of the stock market entirely and moving it into safer investments like a high-yield savings account or a money-market fund. That includes your emergency fund, as well as cash you've set aside for near-term goals like a down payment on a home, or renovation or wedding. Interest rates are rising. Here's what to do if you're investing in bondsIf you're retired or nearing retirement and you plan to draw on your portfolio for everyday costs, consider moving up to two years' worth of expenses out of the stock market."So long as you know your liquidity needs are met, you can let your portfolio do its thing, and you will weather through any potential recession," said Nancy Hetrick, founder and CEO of Smarter Financial Solutions.2. Stick to your plan for longer-term investmentsFor longer-term investments, remind yourself what you're saving for. If you're putting money aside for a retirement that's decades away, for example, or college tuition for your toddler, you have plenty of time for your investments to recover from any dips or even a correction. The reason most advisers recommend that long-term investors keep the bulk of their money in a diversified portfolio with a heavy allocation to stocks is that volatility and short-term risk allows for higher returns over time. But you should determine what allocation is best for you based on your time horizon and personal risk tolerance.Quit your job? Here's what to do with your 401(k) "Even the biggest firms can't time the market in the short term," said Anthony Mezzasalma, a certified financial planner with Mezzasalma Advisors. "The way to get around that is to have a plan and make sure that the money we're taking risks with is invested for the long-term."Having a pre-determined asset allocation (and determining which circumstances would justify you making changes to it) allows you to avoid making emotional decisions about your investments when volatility hits. The longer you can remain invested in the market, the more time you'll have for your investment gains to compound, negating the impact of day-to-day market movements. 3. Make sure you have realistic expectationsEven with the short bear market that hit at the start of the pandemic, investors have enjoyed record performance in recent years. The S&P 500 is up nearly 60% over the past three years. It's easy to forget that historically speaking, annual returns hover closer to 10%, and that bear markets (pullbacks of 20% or more) hit, on average, once every two to three years. That means that expecting your investments to continue to perform as they have over the past three years is not realistic."Even if you know that volatility is normal, it can be a very visceral experience when we see our wealth vanish," said Donald Calcagni, chief investment officer with Mercer Advisors. "But it comes back to having a plan, and sticking to it."

Anna Bahney, CNN Business

2022-03-10 19:55:34

business

homes

https://www.cnn.com/2022/03/10/homes/manhattan-rent-record-high-february-2022/index.html

Manhattan rents rise to an all-time high - CNN

Rents in Manhattan are once again hitting new record highs, after cratering during the pandemic.

homes, Manhattan rents rise to an all-time high - CNN

Manhattan rents rise to an all-time high

Rents in Manhattan are once again hitting new record highs, after cratering during the pandemic.The median monthly rent for a Manhattan apartment was a record $3,700 in February. That was up 24% from a year ago and up an unusually large 4.2% from January, according to a report from brokerage Douglas Elliman and appraisal firm Miller Samuel."What we're seeing is a rapid rebound and an unprecedented climb in rental prices," said Jonathan Miller, president and CEO of Miller Samuel. "In all categories, everything is going up."Rise in bidding warsDemand is surging for rental apartments, which means the "pandemic pricing" deals offered just a year or two ago have now been replaced by bidding wars.Read MoreThe net-effective median rent, or the amount tenants pay after factoring in incentives from landlords, spiked by a record 28% from last year to $3,630 a month as these incentives dried up. New leases with concessions, like one or two months of rent knocked off a yearlong lease, dropped from 41% a year ago to just 20% in February. Buying is more affordable than renting in these citiesThe last time the net-effective rent was that high was in April 2020, at $3,540 a month, after the pandemic's onset but before the bottom fell out of the rental market. But the amount tenants paid in February was 7.1% higher than pre-pandemic rent in February 2020.Prices are rising across the board as many New York City businesses return to in-person work, boosting demand.A year ago, roughly 1% of new apartments leased at a rent higher than listed because of a bidding war, said Miller, which is close to a typical rate. But, in February, 18% of Manhattan apartments rented for more than the asking price.Short supply of apartments to rentThe inventory of rental apartments, which glutted the borough during the pandemic, dropped 81% in February from the year before. The vacancy rate, which was above 11% a year ago, dropped to just 1.32%. "It isn't an all-time record low in vacancy, but it is the lowest February since the financial crisis," said Miller. February is typically one of the softest months for rentals, said Hal D. Gavzie, executive manager of leasing at Douglas Elliman. "And there was no inventory. We're hoping there is some inventory opening up."Should I rent or buy a home?Gavzie said many renters are facing a dilemma: accept a rent increase or find a new apartment."Renters knew going into this that their concessions would end," said Gavzie. "You knew you'd be able to take advantage of the deep discounts -- in some cases discounts of 40%, 50% and lock in for a year or two. If that lease is coming up soon, the landlord may be offering the renewals at a 15% to 40% increase."Gavzie's agents work with landlords that have large real estate portfolios and are reporting that renters are generally just sucking up the higher rents. "Overall, we've seen these tenants accepting the renewal," he said. "The reason being: Where else are they going? Rents are going back to pre-covid levels and higher."

Jeanne Sahadi, CNN Business

2022-03-09 16:31:12

business

success

https://www.cnn.com/2022/03/09/success/frustrations-tax-filing/index.html

Why this tax season is extra frustrating - CNN

Confusion. Amnesia. New paperwork. Delays getting through to the IRS. These are some of the top pandemic-induced frustrations marking this tax filing season, both for tax preparers and their clients.

success, Why this tax season is extra frustrating - CNN

Why this tax season is extra frustrating

Confusion. Amnesia. New paperwork. Delays getting through to the IRS.These are some of the top pandemic-induced frustrations marking this tax filing season, both for tax preparers and their clients. A recent survey by the National Association of Tax Professionals found that "only 4% [of tax preparers] think that taxpayers are knowledgeable about the tax law changes, which means longer conversations with their clients and chasing down documents needed to file their return."Stimulus payments create a paper chaseThe IRS recently mailed letters to taxpayers that report how much a filer received in the third round of stimulus payments, which the agency started sending out in March 2021. Read More"Absolutely no one remembers getting it," said Texas-based enrolled agent Tynisa Gaines.And by "it" Gaines doesn't just mean the letter, but the actual payment itself. She attributes it to the stress of the past two years. "People have blocked out 2020 and 2021."Working remotely in a different state than your employer? Here's what that means for your taxesEven though many don't recall it, her clients who were eligible had gotten both the payment and the letter, Gaines said. But she only can establish that after sending her clients on a treasure hunt. If they lost their letter, she tells them to use the IRS portal to retrieve information on their stimulus payments. For some, that process has proven too difficult or time consuming. So she then asks them to comb through their bank records for proof the stimulus money was deposited in their accounts last year.Providing proof of actual payment and reporting the exact dollar amount is critical if the taxpayer doesn't want the IRS system to flag their return for a discrepancy, which could delay them getting their refunds for weeks or months, Gaines said. On the bright side, she noted, clients whose returns were completed and filed electronically have gotten their refunds well within the 21-day window the IRS promises. Reconciling child tax credit payments is even more frustratingConfusion and aggravation are even greater when it comes to another letter the IRS mailed recently reporting how much eligible taxpayers were sent in advanced child tax credit payments. The payments began going out monthly in July 2021. Normally parents get up to $2,000 per child and they see that money when they file their tax return the following year -- either as a refund or as a dollar-for-dollar reduction of what they still owe the IRS. But this year, when they file their 2021 returns, they already are likely to have received the first half of their credit -- which was temporarily increased to a maximum of $3,600 for children under 6 and $3,000 for children ages 6 through 17. So they will only be able to claim the second half of it when they file. That will possibly result in a smaller refund or less of a reduction in the taxes owed than many parents are used to. Brace for a smaller tax refund if you got monthly child tax credit payments in 2021Adding more complexity, the advanced payments were calculated based on the filer's income from a prior year, so they must reconcile on their tax return whether they were paid too much or too little based on their actual 2021 income.Louisiana-based enrolled agent Skip Touchet is worried some people will be "shocked" once they figure out what they're getting or not. In particular, he worries about those who decided early in 2021 -- before anyone knew they would be getting advanced payments -- to decrease their tax withholdings. By doing so, they received bigger paychecks during the year with the understanding they would get less of a refund or a slightly bigger tax bill at tax time.They may find, though, they will owe more money than expected because they reduced their tax withholdings for last year and now can only claim the second half of their child tax credit. Some parents, however, decided to opt out of getting the advanced payments through the IRS portal last year. But each spouse had to do it separately, which is not exactly intuitive for most married couples filing jointly. That's another reason why, all told, reconciling the advanced child tax credit issues "has been a nightmare," said California-based enrolled agent Laura Strombom.Reaching the IRS takes an extra long timeGetting through to the IRS has also been a major hurdle this tax season. The agency is already contending with a backlog of matters related to 23 million returns and is understaffed.Don't panic if you got a scary IRS noticeTouchet says he often starts calling early in the morning. On a good day -- which he estimates is 25% of the time -- he will get through to someone on the hotline for tax professionals but only after waiting an hour or more. The wait for taxpayers reaching out on their own is often much longer. Gaines said she has a client who was told by the IRS that she owed $10,000 because she had not paid taxes on her pension. Except that she did. The client can't get through to anyone to address the problem. Now, Gaines said, "We don't want to file her 2021 return [yet] because she has a refund [coming] and they'll probably take it to pay what she doesn't owe." Tax preparers bear the brunt of frustrationThe added frustrations of this tax season mean more clients are barking at the messenger."We're getting squeezed between the clients and the IRS," Touchet said.Robin Rae Huntley, an enrolled agent in Florida, summed things up more bluntly. In early February she said, "I've filed 59 returns and been yelled at by at least 50 of [the clients]."

Delyanne Barros for CNN Business

2022-02-28 17:00:55

business

success

https://www.cnn.com/2022/02/28/success/diversifying-personal-finance-podcast/index.html

Welcome to Diversifying, CNN's new personal finance podcast for a changing world - CNN

A new generation of workers needs financial information that speaks to the unique economic struggles they're facing today. Diversifying, a new podcast from CNN Audio, changes the conversation we have about finance by addressing the emotional side of money while providing actionable steps to start investing, tackling debt and more.

success, Welcome to Diversifying, CNN's new personal finance podcast for a changing world - CNN

Welcome to Diversifying, a new money podcast for a changing world

New York (CNN Business)The Great Resignation and the pandemic have left an indelible mark on America's workforce. While many have left their jobs to care for family or retire early, others have reevaluated their financial lives or changed careers.All of this comes at a time of great economic turmoil. Rising inflation, supply shortages, and stagnant wages have many of us asking: How can I protect myself from economic uncertainty? The new generation of workers needs financial information that accounts for the unique challenges they face, including crippling student debt and economic upheaval.Diversifying, my new podcast from CNN Audio, offers answers in this uncertain moment. In my work as Delyanne The Money Coach on TikTok and Instagram, I've seen firsthand how destigmatizing the emotional aspects of money can empower people to finally start investing, tackling student loans and negotiating salaries. The same rules no longer applyI know the advice that guided previous generations is no longer applicable in today's world: staying at a job for 40 years, buying a home, having 2.5 kids, and collecting a pension is an American dream that feels unattainable for Millennials and Generation Z. Read MoreInstead, Diversifying offers a nuanced and multi-dimensional approach to money by embracing open and honest conversations. From acknowledging the growing wealth gap and the shame of carrying debt, to the pressure of providing for multiple generations at once, Diversifying will tell the stories of real people who are often left out of conversations about money.Diversifying isn't about formulaic advice and tough love—we are living through one of the most challenging times in our history and financial advice should reflect that reality. Whether it's debt, real estate, the stock market, crypto, or NFTs, people want a safe space to learn and ask questions, free from judgment. On your mark, in debt, go!Our first two episodes look at the growing student debt crisis. In the first episode, I talk to my sister about how I repaid $150,000 in loans and we reflect on a financial system that forces you into debt in order to get ahead. In the second episode, you'll hear from debt expert Nika Booth, founder of Debt Free Gonnabe, about avoidable money mistakes and how to go from feeling overwhelmed by your student loans to taking control of your debt. Listen to Diversifying on Apple Podcasts, Spotify, or wherever you listen to podcasts. Finance is complex because humans are complex. Leaving our humanity out of the equation is how many of these challenges arose in the first place. Diversifying breaks through the one-size-fits-all mindset, changes how we talk about finance and highlights the human side of money. Listen to Diversifying on Apple Podcasts, Spotify, or wherever you listen to podcasts.

Opinion by Karin Kimbrough for CNN Business Perspectives

2022-03-18 13:00:01

business

perspectives

https://www.cnn.com/2022/03/18/perspectives/women-jobs-recovery-pandemic/index.html

Opinion: US jobs are recovering, but women are still being left behind - CNN

New research from LinkedIn suggests that there are strategies employers can consider adopting in the short term to make their workplaces better environments for women who are still out of a job and eager to get back in.

perspectives, Opinion: US jobs are recovering, but women are still being left behind - CNN

US jobs are recovering, but women are still being left behind

Karin Kimbrough is the chief economist at LinkedIn. The opinions expressed in this commentary are her own. As the latest jobs numbers continue to show a resurging labor market, women have seen an uneven and slower recovery. While men have already recouped their pandemic job losses, there are still about 1.1 million women missing from the labor force. Women of color, in particular, are still struggling — as about 31,000 Black women left the workforce entirely in February, and Black women were the only group who saw unemployment tick up slightly, from 5.8% in January to 6.1% in February. New research from LinkedIn suggests that there are strategies employers can consider adopting in the short term to make their workplaces better environments for women who are still out of a job and eager to get back in. De-stigmatize career breaks and resume "gaps" For the millions of women who were forced out of the workforce during the peak months of the pandemic, many now find themselves with a "gap" on their resume. Whether due to layoffs, needing to step back for caretaking responsibilities or home-schooling, or dealing with other unexpected commitments, many spent months out of work. Read MoreA recent LinkedIn survey shows that 64% of women globally say they have taken a career break at some point over the course of their careers. At its peak in 2020, the length of career breaks for women increased by about 40% year-over-year, compared to a 27% increase for men. Women who leave work are more likely to be stranded between jobs for longer periods of time.While hiring managers are starting to acknowledge that career breaks are becoming more common, nearly 60% of people surveyed believe there is still a stigma attached to them. Employers can attract and retain more women who have taken career breaks by focusing their interview process on looking at the full set of skills a candidate has developed throughout their lived experiences, beyond just the most recent role. When companies hire based on skills and look beyond traditional requirements, they open access to employment to those who have historically been shut out of the labor market.Offer more flexible and remote work options Another consistent theme for women in the workplace is the desire for more flexible options when it comes to where and how they get their work done. Athleta CEO: Women are driving the economy. It's time for businesses to prioritize themWe know that during the pandemic, women took on the brunt of the caregiving and home-schooling responsibilities. So it became more important to them than ever that employers move away from rigid 9-to-5 on-site workweeks to better accommodate their needs. In fact, women in 2020 were 26% more likely to apply to remote jobs on LinkedIn compared to men, and those numbers have remained high since. And in a recent global survey, 53% of women said they had either left their job or considered leaving their job due to lack of flexible working. The good news is that we have seen a huge increase in remote options on LinkedIn, with roughly one in six US job postings now offering remote work, up from one in 67 at the start of the pandemic. However, true flexibility for many women — and especially frontline workers who may not have the same option to work from home — extends beyond just remote work. Companies should offer flexible hours and give employees the ability to dictate their own work schedule. That would draw more women back into the workforce due to the disproportionate burden of outside responsibilities so many were forced to take on during the pandemic. Provide clearer paths for leadership Perhaps a bright spot in recent months is that we've seen a rebound in women hired and promoted into leadership roles. According to LinkedIn data, the share of women hired into leadership positions in the US grew by roughly 10% in relative terms between 2015 and 2021. And right now, our data show that the share of women hired into leadership roles is now up to nearly 41%. Despite steady progress, women in leadership are still largely underrepresented in all major industries we look at. In health care, for instance, we've seen the widest gap — as women make up 65% of all workers in the field but only accounted for 48% of leadership roles in 2021. We've seen a similar trend in retail, where women comprise 52% of the workforce, but only make up 37% of the leadership roles.To even the playing field, organizations need to invest in creating clearer paths to leadership so all women have opportunities to rise to the top ranks. That means being honest and transparent about which types of roles on the team have faster paths to promotions than others, and also thinking critically about whether there are any clear imbalances across age and gender that need to be reset. We still have a long way to go to narrow the gap for women to achieve equal opportunities and access to great jobs. If more organizations embrace career paths of all kinds and adopt flexible workforce policies that we know work better for women, we can get there faster and help more women achieve their career ambitions.

Opinion by Desmond Lachman for CNN Business Perspectives

2022-03-17 12:40:35

business

perspectives

https://www.cnn.com/2022/03/17/perspectives/fed-interest-rates-inflation-economy-recession/index.html

Opinion: The Fed can't afford to move too slowly on interest rates - CNN

If the Fed opts for a path of policy moderation, we could see a prolonged period of high inflation coupled with a sluggish economy, or stagflation.

perspectives, Opinion: The Fed can't afford to move too slowly on interest rates - CNN

The Fed can't afford to move too slowly on interest rates

Desmond Lachman is a senior fellow at the American Enterprise Institute. He was a deputy director in the International Monetary Fund's Policy Development and Review Department and the chief emerging market economic strategist at Salomon Smith Barney. The opinions expressed in this commentary are his own. Even with consumer price inflation running at almost 8%, the Fed announced Wednesday it would raise its policy rate to 0.25%-0.5%. That leaves its interest rate at a meaningfully negative level in inflation-adjusted terms.Especially after Russia's invasion of Ukraine and the renewed Covid outbreak in China, the Fed's timidity with interest rate increases likely means that we will have to learn to live with a prolonged period of high inflation. It also means that we should brace ourselves for a nasty economic recession when the Fed is eventually forced to raise interest rates more aggressively to get inflation under control. Even before Russia's Ukraine invasion and China's new Covid outbreak, the US economy was dealing with an inflationary and financial market mess. Last year, the Fed kept interest rates too low for too long and allowed the broad money supply to increase at a rapid pace. It did so at a time when the economy was already recovering strongly and had received a historic $2 trillion in stimulus. It also continued to buy large amounts of Treasury bonds and mortgage-backed securities at the same time US equity valuations and housing prices were skyrocketing. As bad as inflation has been, though, Putin's invasion of Ukraine will surely propel it even higher, given that Russia is a major world supplier of energy, grains and metals. After the invasion began in February, international oil prices spiked to more than $130 a barrel, causing gasoline prices to reach more than $4.30 a gallon. (Oil prices have since dropped below $100 a barrel.) Prices for wheat and key industrial metals have also increased at a very rapid rate. And China's Covid-related lockdown of a number of major cities could also further boost inflation by continuing to disrupt the global supply chain.What Russia's invasion of Ukraine could mean for the US economic recoveryBy heightening geopolitical uncertainty, the Russian invasion appears to have taken some of the air out of the Fed's equity market bubble. Since the start of the year, the S&P 500 and the Nasdaq are down by around 11% and 18%, respectively. At the same time, interest rates on risky loans have been increasing and financial market volatility has risen.Read MoreIt is against this unpalatable backdrop of excessively high inflation and deflating equity and credit market bubbles that the Fed must carefully weigh its next steps. Its decisions moving forward will have a very large bearing on the economy's direction for the remainder of the year. If it raises interest rates too aggressively, it might succeed in taming inflation, but it would be doing so at the risk of bursting the asset price and credit market bubbles. That, in turn, could precipitate an economic recession by wiping out household wealth and by causing strains in the financial system.But if the Fed opts for a path of policy moderation, we could see a prolonged period of high inflation coupled with a sluggish economy, or stagflation. Worse yet, we should brace ourselves for a deep economic recession down the road when the Fed is eventually forced to slam on the monetary policy brakes to prevent inflation from spinning out of control.

Opinion by Mark Wolfe for CNN Business Perspectives

2022-03-09 14:54:27

business

perspectives

https://www.cnn.com/2022/03/09/perspectives/gas-prices-stimulus-checks/index.html

Opinion: Soaring gas prices are hurting Americans. It's time for more stimulus checks - CNN

Rising inflation is hitting all sectors of the economy. The overall rate of inflation on an annual basis reached 7.5% at the end of January, the highest level since 1982. Gas prices, in particular, are rising especially fast, reaching $4.25 a gallon on Wednesday, up from about $2.86 per gallon last March. That means filling a 20-gallon tank right now costs $85, up from $57.20 last year at this time.

perspectives, Opinion: Soaring gas prices are hurting Americans. It's time for more stimulus checks - CNN

Soaring gas prices are hurting Americans. It's time for more stimulus checks

Mark Wolfe is an energy economist and serves as the executive director of the National Energy Assistance Directors' Association (NEADA), representing the state directors of the Low Income Home Energy Assistance Program. He specializes in energy and housing affordability and related finance issues. The opinions expressed in this commentary are his own. Rising inflation is hitting all sectors of the economy. The overall rate of inflation on an annual basis reached 7.5% at the end of January, the highest level since 1982. Gas prices, in particular, are rising especially fast, reaching $4.25 a gallon on Wednesday, up from about $2.86 per gallon last March. That means filling a 20-gallon tank right now costs $85, up from $57.20 last year at this time. A recent report by Moody's Analytics estimated that inflation was costing the average household $276 more per month, or about $1,100 per quarter. And given the instability in oil markets over Russia's invasion of Ukraine, it wouldn't be surprising if those costs increased to more than $300 a month. Many Americans, especially those who are low- and moderate-income, can't afford to absorb such rapid price increases.Unfortunately, the federal government has limited tools to directly help families cope with rising gasoline prices and the overall increase in inflation. The administration could create a new program to help lower-income families pay for the high price of gasoline, raise interest rates to slow the economy, increase pressure on OPEC nations to increase petroleum production and find ways to ease supply chain disruptions. While all of these actions could help, they would take time to work their way through the economy and slow the growth of inflation. Families need help now. The fastest and most effective way to protect vulnerable citizens from the impacts of global economic instability is to provide a direct payment through the IRS, similar to the three stimulus checks that were sent to families during the height of the pandemic. Those checks helped low- and moderate-income households when schools and child care programs were closed and companies were laying off workers. But unlike the stimulus checks, these payments should be targeted directly to low- and moderate-income families, or those earning less than 80% of the national median income. That way, the checks reach those in greatest need while also limiting the total cost of the program. Read MoreWhat Russia's invasion of Ukraine could mean for the US economic recoveryThe administration should ask Congress to authorize a payment of $1,100 per household to pay for four months of higher prices going forward, and provide an option for the president to provide a second or even third check to low-and-moderate income families for an additional four months in the event that prices remain high. We don't know when this crisis is going to end or when prices for essential goods and services will return to more affordable levels. As the US government works to lower inflation through longer-term solutions, like monetary policy and loosening up supply-side constraints, this stimulus will help low- and moderate-income families afford necessities in the short term. And for those concerned that additional stimulus checks may exacerbate inflation, consider the perspective of a parent trying to afford food or medicine for their children, or buy gasoline to drive them to school or take an ailing grandparent to the doctor. If the government leaves them behind to face these inflationary pressures on their own, they will have to make tough decisions between paying for gasoline and other essentials, like food, medicine or heating. Of even greater importance, helping families afford higher prices will send a message to the global community that the US will stand behind its citizens, especially those who are least able to pay the higher costs of rising prices on their own.

Opinion by Mark Zandi for CNN Business Perspectives

2022-03-04 18:59:13

business

perspectives

https://www.cnn.com/2022/03/04/perspectives/russia-ukraine-us-economy-oil-inflation/index.html

Opinion: What Russia's invasion of Ukraine could mean for the US economic recovery - CNN

There is the growing threat that rising inflation will overwhelm the nation's strong economic recovery, resulting in a recession.

perspectives, Opinion: What Russia's invasion of Ukraine could mean for the US economic recovery - CNN

What Russia's invasion of Ukraine could mean for the US economic recovery

Mark Zandi is chief economist of Moody's Analytics. The opinions expressed in this commentary are his own. Painfully high inflation has become the nation's number one economic problem, ignited by the pandemic, and set to get worse as Russia's invasion of Ukraine sends gasoline prices higher. In his State of the Union address, President Biden proposed several steps to address the inflation problem, and the Federal Reserve is on high alert. But there is no immediate fix, as neither the President nor the Fed have the appropriate tools to prevent prices from rising higher. Even worse: there is the growing threat that rising inflation will overwhelm the nation's strong economic recovery, resulting in a recession. Inflation is as high as it has been in nearly 40 years. Because of the quickly rising prices, the typical American household, which makes less than $70,000 a year, needs to spend about $275 more a month, or $3,330 a year, to purchase the same goods and services they did last year, according to my own analysis. Fanning the higher inflation is the pandemic, and the severe disruption it has caused to global supply chains and the workforce with the millions of people it has made sick and unable to work or fearful of going to work. And, as the pandemic fades, so too eventually will the uncomfortably high inflation. But this won't happen next month or even this summer. Unscrambling the global economic mess created by the pandemic won't be easy, and it will take a couple years to see inflation come back down to a level we feel comfortable with.Russia's invasion of Ukraine complicates things further, ensuring the pain of inflation is set to get worse and last even longer. Global oil prices have risen dramatically since the invasion began to more than $110 per barrel. Even though global supplies have not been significantly disrupted by the Russian invasion, there is a considerable threat that they will be. The higher prices we're seeing are a premium oil traders add to oil prices to compensate for this risk. If supplies are significantly disrupted, then we could see oil prices rise to more than $140 per barrel and gas prices rise to more than $5 per gallon.Read MoreBut even assuming there are no supply disruptions, and oil settles in near $100 per barrel, then American consumers will still be paying more than $4 for a gallon of regular unleaded by this spring, according to my own estimate. If sustained, $100-a-barrel oil would ultimately add as much as half a percentage point to year-over-year consumer price inflation, based on simulations of Moody's Analytics' model of the global economy, which accounts for the impact of higher oil prices on the production and transportation of goods. That would cost American households another $50-plus per month in higher gasoline bills. Also worrisome is that oil and gasoline prices play an outsize role in shaping the inflation expectations of global investors, businesses and consumers. Most of us purchase gas regularly and see the price each day as we go to and from work. Nothing influences people's thinking about future inflation more than what they are paying at the pump today.If inflation expectations start to rise, then the Federal Reserve will likely feel compelled to raise interest rates more aggressively. The Fed knows that if inflation expectations increase, then this may ignite a so-called wage-price spiral. That is, workers will demand their employers pay them more to compensate for the expected increase in their cost of living, businesses will agree to do so as they will feel they can pass the higher cost along to their customers, and so it goes. The economy is recovering fast. But we need to ensure it works for everyoneThe last time this happened in the 1970s and early 1980s, it ended very badly, with a weakened economy suffering double-digit inflation — or stagflation. The only way to break the wage-price spiral was for the Fed to jack up interest rates and push the economy into recession. Even before the Russian invasion, global investors had been anticipating the Fed to increase rates as many as seven times this year in an effort to stem inflation. This would be difficult for the economy to adjust to, but doable. However, if the Fed hikes rates any further than that, it would meaningfully increase the odds that the economic recovery will falter. President Biden has ordered that oil from the nation's Strategic Petroleum Reserve (SPR) be released to help quell higher oil prices. Allies in Europe and Asia are taking similar action, which will provide an additional 60 million barrels to global markets. While this is the right thing do, as the SPR is supposed to be used in crises like the current one, it is much too little to have an impact on prices. The world consumes about 100 million barrels of oil a day. Criticism that the administration's efforts to address the threat posed by climate change is significantly contributing to the higher oil prices are specious. To be sure, the administration is working to make fossil fuel production less economically attractive and green energy investments more, but this will play out over years and decades. Russia's invasion of Ukraine is wrenching to watch as it inflicts an enormous toll on the Ukrainian people. Hopefully, for their sake there is a resolution soon. It is also critical to ensure that our high inflation recedes and economic recovery remains intact.

Opinion by Nicole Bachaud for CNN Business Perspectives

2022-03-07 18:46:34

business

perspectives

https://www.cnn.com/2022/03/07/perspectives/real-estate-housing-prices-black-homeownership-wealth-gap/index.html

Opinion: Home prices could soar another 20% this year, but Black families are struggling to benefit - CNN

It's going to take adding inventory of all types to significantly slow price growth and unlock homeownership for more Americans.

perspectives, Opinion: Home prices could soar another 20% this year, but Black families are struggling to benefit - CNN

Home prices could soar another 20% this year, but Black families are struggling to benefit

Nicole Bachaud is an economist at Zillow. The opinions expressed in this commentary are her own. The nation's sizzling housing market is a double-edged sword: millions of existing homeowners have gotten a boost as they watch their equity grow, but millions more would-be homeowners are struggling to get their foot in the door — especially buyers of color. As of January of this year, the typical US home has gained more than $50,000 in value from the year prior — a jump of almost 20% — as millions of buyers bid against each other in a market defined by historic low inventory. The Sun Belt, which has been a relatively affordable alternative to the ultra-expensive coastal markets, was especially hot, with home values in major markets gaining as much as 45%.It increasingly looks like this year will be more of the same. Home value growth has already reaccelerated well ahead of the typical spring shopping season, and we just saw the largest inventory drop in at least three years. Zillow's economic research team predicts home values will gain another nearly 20% by year's end.While that's good news for homeowners watching their equity grow, millions of Americans who are trying to buy a home for the first time are watching that dream slip further away. That's especially true for Black Americans, who were hard hit by pandemic-related job losses. The Black homeownership rate is lower today than it was a decade ago. A big part of the problem is that Black Americans typically have lower incomes and less wealth, making it more difficult to save for a down payment. And they are more likely to have no credit history and be denied a mortgage.The typical Black household has less than a quarter of the wealth of a typical White household — a $3 trillion gap that has widened in the past decade. Housing disparities — brought by generations of systemic inequality, such as redlining and disparate credit access — account for nearly 40% of that gap. Black-owned homes are worth about 18% less than White-owned homes.Read MoreCombined, all these factors mean Black families are likely to fall further behind despite unprecedented growth in the real estate market. And because homeownership is a major driver of generational wealth in America, their children and grandchildren will also potentially fall further behind. But there are steps we can take to prevent the wealth gap from growing even further:Build, build, buildIt's going to take adding inventory of all types to significantly slow price growth and unlock homeownership for more Americans.More than 60% of homes in the United States are single-family detached houses, with many of those neighborhoods created and kept that way largely through decades-old zoning restrictions. They also skew more White and tend to be more expensive than the broader metro area they're in.Easing zoning rules to allow modest densification in single-family neighborhoods would add millions of homes to our choked housing supply. And it's something a majority of homeowners — and two-thirds of Black homeowners — agree should be allowed. Zillow research has shown that allowing an additional unit on just 10% of single-family lots can yield more than 3 million new homes across just 17 metro areas. That's especially important for households of color, which are more likely to live in higher-density housing, including condos and townhomes. Reform the credit systemPeople with structural access to credit and strong credit histories are more likely to own a home. Black Americans are more likely than Whites to have no credit history, and those with marginal, poor or non-existing credit will struggle to get a loan and will pay more for it. Majority Black, indigenous and people of color (BIPOC) communities also have less access to traditional financial services and are closer to predatory services, such as payday lenders and pawn shops. We must create a credit reporting system that routinely takes into account things like rental history and utility bill payments (and that doesn't weigh so heavily on credit cards, auto loans and mortgages), and work to provide equitable financial services to underserved communities. Fannie Mae recently started allowing rental payment history to be taken into account to give some buyers a better chance to qualify. Help with down paymentsAffording a down payment is an increasingly difficult barrier to homeownership. First-time buyers should expect to spend a year longer saving for a down payment than they would have needed to just five years ago. There is help — in fact, more than 2,000 counties have 10 or more programs available that provide grants or loans to help with down payments and closing costs. But buyers generally aren't aware of the help that's available, and there needs to be more.The economy is recovering fast. But we need to ensure it works for everyoneIn addition, first-time buyer savings accounts give people a tax-free way to save for a down payment and closing costs, similar to programs allowing tax-free college savings. Such accounts are available now in some states, but the federal government should take the lead in providing for them everywhere.Bias training and safeguardsEveryone should be able to shop for and find a home free from bias, discrimination and racism. Anyone responsible for real estate license renewal requirements should mandate implicit bias training. That way, industry professionals have the tools they need to ensure they aren't creating barriers for people to access certain communities or opportunities. Similarly, more states should require fair lending training that addresses the effect of bias, and lenders should review and update their training to ensure it's addressed. The industry should also embrace remote desktop appraisals, which rely on visual technology, such as 3D-tours and digital floorplans, rather than an in-person visit to the property. That can mitigate bias in the appraisal process so existing BIPOC homeowners can tap into their equity more equitably, and be protected against discriminatory practices.Nobody alive today will see America reach racial housing equality. We will need a renewed investment in these and other solutions to keep the gap from widening during this overheated market and set us on the right path to ensure housing market growth is equitable, fair and beneficial.

Opinion by Elaine Maag for CNN Business Perspectives

2022-03-11 14:14:23

business

perspectives

https://www.cnn.com/2022/03/11/perspectives/enhanced-child-tax-credit-inflation/index.html

Opinion: Prices just keep rising. It's time to revive the enhanced child tax credit - CNN

Over the past several months, consumer prices have risen across the board, especially for basic needs like food, gas and shelter. And low- and middle-income families are getting hit the hardest. Not only do they spend a larger share of their income meeting basic needs, they tend to have less savings to help cushion the blow of higher prices.

perspectives, Opinion: Prices just keep rising. It's time to revive the enhanced child tax credit - CNN

Prices just keep rising. It's time to revive the enhanced child tax credit

Elaine Maag is a senior fellow at the Urban--Brookings Tax Policy Center in Washington, D.C. The opinions expressed in this commentary are her own. Over the past several months, consumer prices have risen across the board, especially for basic needs like food, gas and shelter. And low- and middle-income families are getting hit the hardest. Not only do they spend a larger share of their income meeting basic needs, they tend to have less savings to help cushion the blow of higher prices. Reestablishing last year's now-expired enhanced child tax credit (CTC) — including paying the credit as a monthly benefit and providing the full benefit to low-income families — could provide significant assistance to families struggling to make ends meet. The American Rescue Plan temporarily increased the child tax credit from $2,000 per child under age 17 to $3,000 per child ages 6 to 17 and $3,600 per child under age 6. It also made advance payments of the credit available, so that from July to December, the families of about 61 million children received monthly payments of up to $250 per older child and $300 per younger child in advance of filing their tax return (and these families can now claim the second half of their CTC by filing a 2021 tax return). Most significant for low-income families, the credit was made fully refundable, which for the first time allowed even very low-income families to receive the full amount of the credit. The Build Back Better Act called for extending the credit for at least one more year, but the legislation has been stalled. Prioritizing an extension in the coming weeks can equip families to withstand rising prices.A key advantage of providing tax credits as opposed to other benefits, such as food stamps (or Supplemental Nutrition Assistance Program benefits), is that the payments are unrestricted — families can use them to best meet their own needs. Several studies show that providing cash to families can provide stability and improve overall health and well-being. And that's exactly what the enhanced tax credits did. Shortly after the monthly payments began, food insecurity for families with children dropped by more than one quarter. Families reported using their monthly payments to purchase food, clothing and utilities — and over one-third of very low-income families used the payments for rent. Read MoreFamilies with children were also able to use the advance payments to improve their financial outlook. About half of families with incomes below $75,000 used the credits to pay off debt. Higher-income families were less likely to do the same, but over one-third of Black and Hispanic households with incomes over $75,000 also used the credit to pay down debt. Soaring gas prices are hurting Americans. It's time for more stimulus checksIn some cases, recipients of the tax credit have also reported that the payments helped them to work by giving them the means to pay for child care. This can include care that supports nontraditional work schedules, which can be difficult to get using existing subsidy programs. In other cases, some parents with young children reported working less and providing more direct care because of the expanded CTC. The temporary expansion of the child tax credit increased income support for millions of households with children, including those with very low incomes. But now that the payments have ended, child poverty has shot up by 41%. This effect is being exacerbated by the highest rate of inflation since the early 1980s, putting extra pressure on low-income households who just lost a key source of financial support. With the credit ending just as prices started rising, it is possible that some gains to family well-being in late 2021 will be lost to higher prices.Thanks to data from last year, we know that bringing back the enhanced CTC would reduce child poverty and provide crucial cash support to low-income households, without much interruption to work as some fear. Add to that the potential for the credit to blunt the harm of high inflation, and reinstating last year's child tax credit enhancements couldn't come at a better time.

Opinion by Richard M. Schulze for CNN Business Perspectives

2022-03-06 15:36:57

business

perspectives

https://www.cnn.com/2022/03/06/perspectives/best-buy-founder-college-entrepreneurship/index.html

Opinion: Best Buy founder: What every US college should teach their students - CNN

Learning to think and act like an entrepreneur emboldens students to take charge of their own destinies, and in doing so, it powers the American Dream.

perspectives, Opinion: Best Buy founder: What every US college should teach their students - CNN

Best Buy founder: What every US college should teach their students

Richard M. Schulze is the founder and chairman emeritus of Best Buy Co., Inc. and founder of The Richard M. Schulze Family Foundation. He's also the founding benefactor of the Schulze School of Entrepreneurship at the University of St. Thomas in Minneapolis, MN. The opinions expressed in this commentary are his own. The value of a college education has come under scrutiny in recent years. With average student debt in the US rising to more than $37,000 in recent estimates, more students are wondering if it is a choice they can afford. And as more affordable online programs become increasingly available, others question whether the "traditional" college experience is relevant anymore. As someone who did not attend college, but who served for many years as a trustee on the board of the largest private university in my home state of Minnesota, I myself have pressed our leaders in higher education to address rising costs and the burden of student debt so that every student can reap the rewards and returns of a traditional college education. But it is not just the cost of education that determines if a student will generate a positive return on the experience. It is also, obviously, what they learn and how they learn it.One way to make college more impactful for all students is to engage them in learning the entrepreneurial skillset. Whether as an entrepreneurship major or minor, or in liberal arts courses that explore the entrepreneurial mindset and process, or through venture competitions, startup incubators or design thinking workshops — teaching students to think and act as entrepreneurs does remarkable things. It motivates and energizes students, it builds their critical and creative thinking capabilities, it focuses them on the ways they can make an impact in the world, and it prepares them to enter the workforce with passion, purpose and confidence. Regardless of whether they start a business or not, students with entrepreneurial training are better equipped to identify and craft opportunities for themselves and their employers, to bring innovative thinking to the problems they face and to mobilize the resources they need to implement new and better solutions.And while some may think that entrepreneurs are born, I disagree. As is true in any discipline or craft, someone with significant raw entrepreneurial talent still needs formal education and training. Formal education isn't just about learning facts and formulas, although being exposed to a broader range of ideas and knowledge is, of course, invaluable in and of itself. The best education is one that teaches people how to think. And an entrepreneurial education demands just that — it means you must take what you are learning and color it with your own unique perspective and creative insight. Unconventional, out-of-the-box thinking requires confidence and boldness, which are muscles worked in a formal educational setting. And students inspire and push each other as much as faculty, and sometimes more. I would also argue that calculated risk-taking — something essential for innovation, entrepreneurship or creativity in any field — is worth teaching in a proper setting. The best entrepreneurs aren't those who necessarily hit a home run on their first attempt; they keep trying, and they learn from their failures. Being in that setting, with expert guidance from faculty and collaboration with classmates, offers security, as well as permission to fail and the lessons around how to fail smart. Without that kind of lived experience in the classroom, many would-be entrepreneurs never find the confidence to take the risks that could make their aspirations real. Read MoreA formal education can be especially helpful for potential entrepreneurs coming from underrepresented or marginalized backgrounds. Small business ownership is one of the best ways to build intergenerational wealth, and we can't afford for talented and driven young people to miss out on this opportunity. How we can solve the nation's affordable housing crisisStill, the rising cost of education remains a critical issue that needs to be addressed if we wish to see these students excel. Universities must continue to cut costs, and those of us with the resources to do so must step up to support scholarships, mentorships and internships to help all students access and make the most of their experience. Let's not give up on college. The truth is it remains a crucial driver of success. But we must empower our students with the skills to be innovators, creators and entrepreneurs. Entrepreneurship education empowers students to think creatively, to seek opportunities and solve problems, to empathize with others, to take risks, to accept failure as part of the growth process, and to help take a passion or idea and turn it into a viable business. Learning to think and act like an entrepreneur emboldens students to take charge of their own destinies, and in doing so, it powers the American Dream. My success story is the kind of entrepreneurship story that people like to glamorize, but the reason those stories are popular is because they're so unlikely. What we need right now aren't idealized stories of success, but a reliable pathway for all bright young minds with the right ideas to make the most of their opportunities, and entrepreneurial education provides just that.

Opinion by Emily Parker for CNN Business Perspectives

2022-02-04 19:09:34

business

perspectives

https://www.cnn.com/2022/02/04/perspectives/china-digital-yuan-cryptocurrency-bitcoin/index.html

Opinion: China's digital yuan shows why we still need cryptocurrencies like bitcoin - CNN

The rise of central bank digital currencies highlights the importance of decentralized cryptocurrencies that are relatively private and not controlled by any government.

perspectives, Opinion: China's digital yuan shows why we still need cryptocurrencies like bitcoin - CNN

China's digital yuan shows why we still need cryptocurrencies like bitcoin

Emily Parker is an executive director at CoinDesk, a former policy advisor at the US State Department and writer/editor at The Wall Street Journal. She is author of "Now I Know Who My Comrades Are: Voices From the Internet Underground." She owns some cryptocurrency. The opinions expressed in this commentary are her own. China's digital yuan is poised to make its debut on the global stage this week, with foreign athletes and others at the Beijing Olympics able to use it for the first time. People can access digital yuan via an app on their smartphone, for example, but it's different from other payment apps in that it is a digital version of the renminbi, issued by the People's Bank of China. The digital yuan has already been piloted in various Chinese cities and was used in more than $8 billion worth of transactions in the second half of 2021. China's efforts have also spurred other countries to ponder digital currencies of their own. Nearly 90 countries, accounting for more than 90% of global GDP, are actively exploring a central bank digital currency (CBDC), according to the Atlantic Council. Some would argue that CBDCs will cancel out the need for cryptocurrencies like bitcoin. After all, how many different digital currencies do we really need? But in fact, the opposite is true. The rise of CBDCs highlights the importance of decentralized cryptocurrencies that are relatively private and not controlled by any government. While China's digital currency is an impressive undertaking that could offer many benefits, such as ease and efficiency of payments, privacy is not one of them. If anything, the digital yuan will give the government greater visibility into the financial transactions of its citizens. You may not have to provide an ID to make small payments, Yaya Fanusie, adjunct senior fellow at the Center for a New American Security, said in an interview. But "the government is going to be able to trace all transactions, generally, whether they are anonymized or not." Read MoreCentral bank digital currencies are coming. The US must be preparedChina already has a very sophisticated mobile payments system, led by WeChat Pay and Alipay. Companies already collect plenty of private financial data, but the digital yuan will make that data even more accessible to the government. Fanusie said the Chinese government can already go to the payment companies and get the data, but with the digital yuan, they won't need to take that extra step because they will already have direct access to that data. With the digital yuan, he said, "they barely have to lift a finger. The data comes to them." CBDCs are not only trackable, they may also be programmable. After a natural disaster, for example, a government could send citizens digital money that could be spent on food and medicine, but not alcohol. This means that governments will have a greater ability to decide who has access to digital money. In China's case, Fanusie said, "it's going to be easy for the central bank to turn off any wallets they want to turn off, because of political issues or crime fighting or whatever." It is too early to know exactly how central bank digital currencies will play out in practice, but concerns are so great that Congressman Tom Emmer cited privacy issues in legislation he introduced that would prohibit the US Federal Reserve from issuing a CBDC directly to individuals.Cryptocurrencies offer a fundamentally different approach. Bitcoin, the world's leading cryptocurrency, was introduced after the 2008 financial crisis as a form of money that was meant to be independent of government or bank control. Bitcoin transactions are stored on a decentralized ledger known as a blockchain.One of the main advantages of bitcoin is that no government can stop you from sending or receiving it, and no government can shut down the network. Bitcoin is also a relatively private form of money, in the sense that all you need to send and receive bitcoin is an address that consists of a string of numbers and letters. Some are drawn to cryptocurrencies simply because they believe that even perfectly legal transactions should enjoy basic privacy protections.China wants to weaponize its currency. A digital version could helpSome crypto purists will argue that even bitcoin is not private enough, as all bitcoin transactions are recorded on a publicly viewable blockchain. Still, attaching a bitcoin address to a real person's identity takes work: Governments or spy agencies would have to devote a good deal of time, skill and effort to the task of analyzing blockchain data. CBDCs like China's, by contrast, are designed to be traceable by the government. Developers are currently working to increase bitcoin's privacy protections. But there are other digital currencies, for example zcash and monero, that promote privacy protection as a key feature. Zcash, for example, uses a cryptographic tool known as zero-knowledge proofs, which is a way to verify a set of data without revealing that data. New cryptocurrencies are constantly appearing, and we are likely to see even more innovation when it comes to privacy. China's digital yuan may eventually become the country's main form of payment. "Whether I embrace the digital Renminbi or not is not up to me to decide," Victor Gao, chair professor at China's Soochow University, said in an interview. "If I stay in China, if I remain a global citizen, I think this wave will hit me sooner or later. I cannot fight against it, I can't resist it without being buried by it."Other countries, including the United States, may not be able to resist the temptation to roll out a CBDC of their own. But government-backed digital currencies should not reign supreme. Other cryptocurrencies are needed to preserve an independent and relatively private form of digital money in a world where transactions are becoming easier for governments to track and control.

Opinion by Glenn Kelman for CNN Business Perspectives

2022-01-10 14:13:53

business

perspectives

https://www.cnn.com/2022/01/10/perspectives/redfin-ceo-home-climate/index.html

Opinion: The next front in fighting climate change: your home - CNN

About 20% of greenhouse gases in the US come from homes. These are problems we can solve, as homeowners, with new technology, and through government incentives.

perspectives, Opinion: The next front in fighting climate change: your home - CNN

The next front in fighting climate change: your home

Glenn Kelman is the CEO of Redfin, a technology-powered real estate broker. He has invested in Advanced Earthen Construction Technologies. The opinions expressed in this commentary are his own. The Build Back Better bill, if it ever comes to pass, now seems unlikely to include any major climate change provisions. But we can still reduce our own carbon emissions, starting with our own homes. About 20% of greenhouse gases in the US come from homes. And the homes of the wealthiest Americans, who can most easily afford climate-saving modernizations, emit about 25% more greenhouse gases per capita than those of lower-income residents. These are problems we can solve, as homeowners, with new technology, and through government incentives. Switch from a gas-powered furnace to an electric heat pumpWhen we think about our home's carbon footprint, most of us think of solar panels, but switching to electricity from fossil fuels for heating our home's air and water may be even more important. More than half of the energy homes use is for heating and air conditioning, and nearly two-thirds of US homes rely on fossil fuels for heat.Switching from natural gas to electricity for heating a home has a dramatic impact on its carbon output. In a place like Sacramento, for instance, that switch would reduce its emissions by 45% today. And the benefits would only increase over time. Unlike the furnace burning gas in your basement, the power plants generating electricity for a heat pump will get more efficient, getting more power from the sun and other sources of renewable energy. So that Sacramento home would, if electrified, emit 82% less greenhouse gases by 2050. The home would also have lower utility bills.Read MoreStop thinking of natural gas as cleanerThe reason most people haven't already made this transition is because we don't even think of our homes as being heated by fossil fuels. The energy industry has promoted natural gas as "a cleaner-burning" fuel for heating your air and water and for powering your stove, oven and dryer. It's true that burning natural gas produces about half the amount of carbon dioxide that coal does, for the same amount of energy. But producing and transporting natural gas to your home emits methane, which can be 86 times more potent at warming the planet than carbon dioxide. This is only one reason why, in the US, natural gas contributes just as much to climate change as coal. End permits for buildings heated by fossil fuelsChanging how we heat every home in America is a massive undertaking, but the good news is we've done it before. Coal or wood heated about 77% of US homes in 1940 and about 16% by 1960. This cycle is beginning anew now: More than 50 cities in California, and most recently New York City, have stopped or plan to stop granting permits for buildings that use natural gas or other fossil fuels rather than electricity. But other states are moving in the opposite direction. By 2021, 20 US states had quietly prepared "preemption laws," exempting natural gas utilities from city regulations. That means that, absent an expensive retrofit, many buildings will likely be powered by gas for decades. Give homeowners electrification incentivesSuch preemption laws are just one example of why we need federal action, but progress there has been mixed. The Build Back Better plan, which would have provided billions of dollars in subsidies largely for home electrification and retrofits, is unlikely to continue in its current form. The evidence that its incentives would've worked is overwhelming. The use of heat pumps has boomed where governments have offset part of the costs. Invest in technology But government incentives aren't the only way to reduce our homes' impact on the climate. As the technology improves for heat pumps, induction ranges and other appliances to make the home more efficient, people will adopt these technologies just to save money, and to be more comfortable.Buyers, get ready for another crazy housing market next yearSolar panels are the obvious example of how technology can change the economics of mass adoption. From 2009 to 2019, the cost of generating solar power declined 89%, from $359 per megawatt-hour to $40. After accounting for plant-building and operating costs, solar panels were once three times more expensive than fossil fuels, but now are less than half the cost of fossil fuels.This sea-change in efficiency is why the majority of people who install solar panels now save money from day one. There is usually no down-payment required for a solar panel loan, and the typical utility bill savings can exceed the monthly loan payment even in the first year. It should thus come as no surprise that it took the US 40 years to get a million solar panel installations, and only three years to get the next million. Use more eco-friendly materials and construction methodsThe way we build and furnish homes is changing, too. Homes are being built in factories by companies like Plant Prefab and Veev, lowering the environmental impact of their construction and operation while improving building time, cost and the quality of construction. Other companies, like Advanced Earthen Construction Technologies, are now manufacturing homes out of earthen blocks, avoiding the use of lumber and concrete, both of which contribute to global warming. Earthen-block homes are naturally insulated against extreme temperatures, and are resistant to the wildfires that are becoming more common in the West.As home construction, power generation, and heating and cooling technologies change, we just have to make sure our thinking changes, too. Home ownership now comes with new responsibilities, and new opportunities to leave the world better than we found it. This involves learning about a new kind of economics, not only to own a home, but to run it. Our goal can be not just to benefit our own family, but all of us.

Opinion by Bill Carter for CNN Business Perspectives

2021-12-18 14:12:13

business

perspectives

https://www.cnn.com/2021/12/18/perspectives/snl-donald-trump/index.html

Opinion: The reason 'SNL' is so hilarious again? Less Trump - CNN

As has happened with "SNL" in the past, expectations that the show must jump on every egregious event coming out of Washington sometimes winds up forcing creative decisions. In the case of Trump, there were a slew of those events, many so closely resembling the theater of the absurd they were almost impossible to parody.

perspectives, Opinion: The reason 'SNL' is so hilarious again? Less Trump - CNN

The reason 'SNL' is so hilarious again? Less Trump

Bill Carter, a media analyst for CNN, covered the television industry for The New York Times for 25 years, and has written four books on TV, including The Late Shift and The War for Late Night. The opinions expressed in this commentary are his own. I confess to being old enough to have watched the premiere of "Saturday Night Live" in 1975. It was, from the start, exciting, ground-breaking television.Since then, I have seen the majority of episodes. Not all of them, of course, because like most "SNL" viewers, I have found some periods in its mostly spectacular history more appealing (as in, funnier) than others.I have never held the fallow periods against the show, because the show's creative maestro, Lorne Michaels, somehow always manages to find the way back to relevance and inspired comedy. (You're not going to stay on the air for nearly 50 years if you can't.)So I feel reasonably well-equipped to say: The current season, which has reached its holiday hiatus point, can be legitimately ranked with past examples (Season 26 in 2000 when Tina Fey and Jimmy Fallon teamed up on Weekend Update; Season 21 in 1995 when Will Ferrell and others joined the cast) as a genuine comeback story.I'm not alone. Reviews for this season have been substantially positive. A typical comment, this one from Kelly Lawler at USA Today: "'SNL' this season so far has been unexpectedly hilarious, delightful and thrilling." Read MoreThat's not an appraisal "SNL" was routinely receiving in recent years, when criticism was lobbed at the show for being creatively stalled. So what changed?The most obvious answer: we are not in the middle of a presidential race. "SNL" has always thrived on political satire; parodies of debates and other campaign moments have generated some of its most memorable sketches and catchphrases: "Strategery" from Will Ferrell as George Bush in 2000; "I can see Russia from my house!" from Tina Fey as Sarah Palin in 2008; "Who am I? Why am I here?" from Phil Hartman as Admiral James Stockdale in 1992. And when Donald Trump emerged as candidate and then president, the show experienced a jolt of positive attention from Alec Baldwin's extremely broad Trump impression.Bowen Yang as the Iceberg that sank the Titanic, left, and anchor Colin Jost during Weekend Update on "Saturday Night Live" in New York on April 10, 2021. But as has happened with "SNL" in the past, expectations that the show must jump on every egregious event coming out of Washington sometimes winds up forcing creative decisions. In the case of Trump, there were a slew of those events, many so closely resembling the theater of the absurd they were almost impossible to parody (drinking bleach; redrawing weather maps; Mexico paying for the wall).In the last few years of Trump-centric news, "SNL" seemed to exhaust itself in search of a fresh comic take, something other than how ridiculous or menacing Trump could be.It didn't help that the entire world of late-night was equally suffused in Trump-preposterousness, because of comedy imperatives and the conviction that his actions had to be mocked.This season has brought the first sustained respite from Trump in seven years. The character has appeared, but sparingly, and the impression, performed by new cast member James Austin Johnson, is more character than caricature. Johnson is capturing the Trump voice and mannerisms as they really are, not as a cartoonish performance. (Baldwin, to be fair, was very funny in many sketches in the early Trump years.)Notably, the show has also done little of substance with Joe Biden, though Johnson also has a skillful take on him. Jim Carrey was an exceptional bit of star-casting, but he didn't knock critics out.Perhaps because of the huge focus on politics, or because the cast has not been the most memorable, Michaels did a lot of that stunt-casting in recent years, especially in bringing back cast favorites. But the best seasons of "SNL" have been all about the regular cast.Late-night television may never be the sameAnd that's what has been happening this year. Some relatively newer cast members are moving to the forefront. Bowen Yang is proving extremely versatile; and Pete Davidson, who earlier leaned heavily on his stand-up skills, has made a mark with well-formed sketch characters (his Andrew Cuomo is dead-on great) and in music videos. (The "Walking in Staten" parody of "Walking in Memphis" is a highlight of this season.)But there have been other highlights, some generated by hosts, many of whom excelled this season. Maybe most surprising was Kim Kardashian, who defied expectations by shining in her appearance. (One line from her monologue: "I'm just so much more than that reference photo my sisters showed their plastic surgeons.") Kieran Culkin and Simu Liu were also very busy in their stints, a sign the writers saw real comedy chops. So was Billie Eilish, who had a highlight commercial parody on top of two eye-popping music performances.Still, by almost universal agreement, the standout performance of the season was turned in by long-time cast member Cecily Strong, with an impassioned Weekend Update segment as Goober the clown, a searingly funny commentary about abortion rights.Weekend Update also seems refreshed. After some seasons where the jokes felt flat, they have been sharp and more frequently laugh-out-loud: "An 83-year-old man has become the oldest person ever to hike the Appalachian Trail. The man dedicated the walk to his wife . . . who died a few miles back." Overall it's enough to conclude, with the heavy lift of a presidential election year behind it, something really interesting is happening at "SNL" again. To put a spin on Chevy Chase's now-famous words from his early days on the show: Unlike Generalissimo Francisco Franco, "SNL" is still alive!

Opinion by Bill Carter for CNN Business Perspectives

2021-12-30 14:24:54

business

perspectives

https://www.cnn.com/2021/12/30/perspectives/capitol-insurrection-biggest-news-story/index.html

Opinion: The biggest news story of 2021? Our imperiled democracy - CNN

The Capitol insurrection — and the egregious attempts by one party first to blow up the peaceful transfer of power, the bedrock of our democracy, and then to make several attempts to ensure no election would ever again deny them power — has sweeping implications for the future.

perspectives, Opinion: The biggest news story of 2021? Our imperiled democracy - CNN

The biggest news story of 2021? Our imperiled democracy

Bill Carter, a media analyst for CNN, covered the television industry for The New York Times for 25 years, and has written four books on TV, including The Late Shift and The War for Late Night. The opinions expressed in this commentary are his own. 'Tis the season; but there aren't many reasons to be jolly.The pandemic is back, not that it ever really left. Headlines are again dominated by explosively rising case numbers, which means equally rising levels of depression and panic. Covid is a news story so inescapable it swallows up the attention of the nation.And yet, in lists of the biggest news stories of 2021 that media organizations are composing, while Covid is huge, the ongoing challenge to American democracy is a constant. The headlines began in January with the first serious attempted coup in US history and have been running ever since, highlighted by the unceasing machinations by supporters of Donald Trump to either restore him to office or find some extra-legal way to eliminate the possibility he could ever lose if he ran again. Indeed, as much as the Covid crisis has affected our nation, I have no hesitation in arguing that the story of our imperiled democracy is the biggest story of the year — a story unlike any we have seen before in the United States. The Capitol insurrection — and the egregious attempts by one party first to blow up the peaceful transfer of power, the bedrock of our democracy, and then to make several attempts to ensure no election would ever again deny them power — has sweeping implications for the future. I certainly don't believe I have seen any other news story in my own lifetime, which goes back to the 1950s, that has shaken the nation to its foundations as this one has. Read MoreThe country has been buffeted by tragic and frightening stories throughout the decades I have followed the news, starting, in my own experience, with the John F. Kennedy assassination. The shooting of JFK certainly seemed like a thunderbolt hurled at the heart of our government — with all kinds of disorienting details, including the accused assassin being murdered live on television, then the immediate and persistent conspiracy theories that ran rampant. A terrible time for sure.Next: the escalation of the Vietnam War, which ran parallel to the struggle of the Civil Rights movement and made the '60s the most divisive time in my early life.The '70s brought Watergate, which was supposed to be the biggest political scandal of our history.On through the many tragic and disturbing mass shootings, especially the horrific killings of schoolchildren. Then the terrifying morning of 9/11, an event that did unite the nation — in overpowering grief.Nothing can diminish the staggering impact of these events, and their ripple effects through the consciousness of Americans. But the moment we are at right now feels different, eerie almost, like the stillness that presages a coming storm of a magnitude we can't yet measure. The reason 'SNL' is so hilarious again? Less TrumpAll of those earlier crises brought shock, horror and terrible sadness. But the state of the nation always remained stable. Maybe only two events before my time, the Civil War and World War II, are legitimate rivals to our current crisis in terms of potential destructive impact. In both those earlier cases, our democracy also came under mortal threat, once from internal forces, once external. Both encompassed authoritarianism, violent threats to opponents, popular appeal based on rage and grievances, a cult following and very big lies. And, in both those past crises, our democracy still survived.Bloodshed on the scale seen during those two wars is unlikely now; but democracy's survival is no sure bet. Mainly that's because the truth of the threat is being either abused or obscured. For the first time, a group trying to unravel democracy has its own media megaphone to blast out propagandistic disinformation about the 2020 election, falsely claiming that it was stolen, despite an utter lack of evidence.Lies about the election have been thoroughly discredited already, in courts and endless "audits." But pro-Trump Republicans continue to believe the fabrications, and worse, use them to install biased election officials and to enact laws that pave the way for them to overturn vote totals they don't like — all accompanied by unceasing efforts to suppress or deny the vote to people who oppose them.That utterly unjustified and nefarious activity is the fuel stoking the drive to see the American experiment in a government of the people, for the people and by the people perish from the earth. This isn't a case of over-the-top partisan politics gone a bit too far, where one side pushes this way and the other side pushes back. It's a slowly unfolding horror movie; and yes, unless something changes the scary ending, it will certainly be the biggest news story of my lifetime.

Opinion by Mike Levin for CNN Business Perspectives

2022-02-21 13:46:47

business

perspectives

https://www.cnn.com/2022/02/21/perspectives/ban-conflicted-trading-act-congress-stocks/index.html

Opinion: It's time to ban Congress members from trading stocks - CNN

The Ban Conflicted Trading Act would ban members of Congress from trading individual stocks or similar investments and prohibit them from serving on corporate boards while in office.

perspectives, Opinion: It's time to ban Congress members from trading stocks - CNN

It's time to ban Congress members from trading stocks

Mike Levin is the representative for California's 49th Congressional District, which includes North County San Diego and South Orange County. He serves on the House Natural Resources Committee, the Select Committee on the Climate Crisis and the Veterans' Affairs Committee. The opinions expressed in this commentary are his own. Over the years, members of Congress have come under fire for trading stocks in companies involved in the industries they're supposed to regulate. Some members on both sides of the aisle traded stocks in early 2020 right before the severity of the pandemic became widely known to the general public.There's nothing that forbids lawmakers from trading shares of companies that could be affected by laws they pass (the Stock Act, which Congress passed in 2012, does ban them from using any nonpublic information for financial benefit). But even more casual stock trading that may not seem particularly sinister can create conflicts of interest — or the appearance of conflicts. That is precisely what I wanted to avoid when I first started running for Congress in 2017. At that time, my wife and I divested from all of the individual stocks we held and moved everything into diversified mutual funds that are managed by a third party. While that step isn't required by law, I felt it was my responsibility to go above and beyond to earn the trust of my constituents. Now I believe we need to require all of my colleagues in Congress to take similar steps. It's time to pass the bipartisan Ban Conflicted Trading Act, which I am proud to cosponsor. That bill would ban members of Congress from trading individual stocks or similar investments and prohibit them from serving on corporate boards while in office.Passing the Ban Conflicted Trading Act would be a critical step to restoring the public's trust in Congress. Many Americans have little faith in their elected representatives to do the right thing. They see a culture of corruption in Washington and are cynical about the direction of our democracy. Passing this act could help change that. The American people would have more faith in their elected officials by knowing that they're focused on serving the public's best interests and not lining their own pockets.Read MoreSome of my colleagues argue such a ban is unfair to members who should have a right to trade individual stocks just like anyone else. However, I think it's fair to say that when you take the oath of office, you are accepting an enormous responsibility that requires a higher standard of conduct than private citizens. We have been entrusted to put the public's interest above our own, and maintaining that trust requires sacrifices.The government has a talent problem. This bill could help change thatI have also heard from colleagues who raise legitimate concerns about who should bear the cost of divesting from individual stocks and transferring investments to mutual funds or blind trusts, which typically requires the assistance of finance professionals. I do not believe taxpayers should be asked to cover that expense, but I have also heard arguments that members themselves should not be forced to pay for that cost either. I believe these obstacles are no excuse for abandoning the effort entirely. We need to have a discussion about our disagreements, and then press forward. Passing this bill is one of many steps we must take now to show our constituents we are working for them, not our own financial self-interest.If the debate around this bill in recent months is any indication, my stance will surely ruffle some feathers. Even some colleagues in my own party disagree with the push to ban trading. That being said, I know this is the right thing to do.Our country is more divided than ever. But I believe that we can still come together to do the right thing and restore some faith in our political process. Passing the Ban Conflicted Trading Act would be an important step in the right direction.

Opinion by Mary Beth Laughton for CNN Business Perspectives

2022-03-08 15:16:02

business

perspectives

https://www.cnn.com/2022/03/08/perspectives/athleta-ceo-women-economy/index.html

Opinion: Athleta CEO: Women are driving the economy. It's time for businesses to prioritize them - CNN

Ensuring pay equity, creating equitable supply chains, prioritizing female representation across female-driven industries and seeking strategic partnerships that support women will help create a new cycle of lifting other women as we climb.

perspectives, Opinion: Athleta CEO: Women are driving the economy. It's time for businesses to prioritize them - CNN

Athleta CEO: Women are driving the economy. It's time for businesses to prioritize them

Mary Beth Laughton is president and CEO of Athleta. The opinions expressed in this commentary are her own. When I started my career in the late 1990s, only six women had ever broken the proverbial glass ceiling to become CEOs of Fortune 500 companies. This small but mighty group was an inspiration to young women like me just starting their careers, especially considering the uphill battle we faced when it came to gender equality (at the time, women earned 77 cents for every dollar earned by men).Last year, the number of women running businesses on the Fortune 500 hit a record of 41. And while I'm proud to be one of the women who lead billion-dollar brands, there still aren't enough of us. The tide has turned, but we still have a long way to go.Businesses can play a key role in supporting women, and some have already taken action to create a culture and business that prioritizes them. Now, it's time for all companies to work on leveraging these opportunities (and finding new ones) to be a catalyst for change.Establish equal pay for womenYou've likely heard the statistics before, but the pill never gets easier to swallow: Today, on average women earn 82 cents for every dollar a man earns. The wage gap is even greater for some, especially mothers and women of color. Read MorePaying women in the workplace fairly shouldn't be an innovative approach to doing business. It must be basic table stakes for any company.While independent data validation helps ensure transparency and unbiased results, companies of any size can institute an internal assessment that determines pay equity, helping build inclusive workplaces where everyone is given an equal opportunity to succeed. Create equitable supply chains About 190 million women work in the global supply chain industry. Many women garment workers live and work in countries that have constrained social safety nets in place, which often means limited access to education and health care — both of which play key roles in enabling upward personal and professional mobility. While there has been enormous focus in the apparel sector on this topic over the last decade, there remains significant work to be done. For the past 15 years, Gap Inc. has combatted this disparity head-on through its Personal Advancement & Career Enhancement (P.A.C.E.) program, which provides women in the global apparel industry and surrounding communities with foundational life skills, technical training and support to advance in their personal and professional lives. Since the program was established, more than 35 partners have rolled out P.A.C.E. to their own supply chains, including PVH Corp., Hasbro and New Balance. More than 1 million women and girls have participated in Gap Inc.'s program across 17 countries where our clothes are made, giving women a voice and an opportunity to positively change the trajectory of their lives and their family's lives.Companies must invest in evaluating their suppliers and establish a clear methodology to assess how they treat and promote women. For instance, a company could require their factories to achieve gender parity at supervisor levels by a certain year. They could also work with community-based organizations that seek to address root causes of gender inequities. A comprehensive, holistic approach to women's empowerment — one that includes aligning a company's values with its sourcing decisions — can meaningfully move the needle on systemic gender-based issues that are prevalent in global supply chains. Elevate women-owned brandsAccording to the Women's Business Enterprise National Council (WBENC), 42% of all businesses in the US are women-owned. But they don't see the same revenue or investments that businesses owned by men do.Retailers have a unique opportunity to increase the visibility of women-owned brands by intentionally sourcing and promoting them. For instance, clean-beauty retailer Credo recognized the significant gender gap that exists in beauty brands' leadership teams. To bring attention to this disparity, Credo publicly shares the percentage of women-owned products it carries. Today, 90% of the brands Credo carries are from companies led by women founders or CEOs, compared with only 29% at conventional beauty stores. The female-founded company also recently announced the launch of its Credo for Change Workshop, which works to advance BIPOC-led (Black, indigenous and people of color) clean beauty brands with education, mentorship and funding opportunities to take their business to the next level. Major retailers are showing support, too. Kroger, Walgreens and Walmart showcase items from women-owned brands on their websites, and Target is displaying a digital badge alongside products that have been certified by the WBENC as at least 51% owned, operated and controlled by women.Seek partnerships that support women Selecting the right partners is key to making sure that a company's mission and values are carried out. And when that mission is centered around women, those long-term meaningful relationships will not only push the business to do better, but it will make significant strides in ensuring women are supported and have the same opportunities as men.Best Buy founder: What every US college should teach their studentsAs part of Athleta's growth strategy, it has partnered with Allyson Felix, Simone Biles and Alicia Keys to not only collaborate on traditional product offerings, but also advise on and amplify initiatives like the Power of She Fund, which was established in 2020 to provide grants aimed at recognizing female empowerment. In partnership with Allyson, Simone and Alicia, the Fund has collectively awarded more than $1.4 million to more than 50 organizations to date, positively impacting more than 10,000 women and girls.Now more than ever, women are leading the charge in economic and social issues, and the business community's commitment to empowering women remains vital to closing the gender equity gap.Brands must use their platform and scale to support programming and strategies that help women thrive. All women deserve to reach their full potential and feel empowered to use their voice for good. Strategically investing in women is not only good for their personal and professional growth, it's also good for business. Ensuring pay equity, creating equitable supply chains, prioritizing female representation across female-driven industries — particularly in management — and seeking strategic partnerships that support women will help create a new cycle of lifting other women as we climb. All leaders — CEOs, managers, small business owners and beyond — must invest in the financial, physical, mental and emotional well-being of women. Investing in women is an investment for all, because when a woman is empowered, she lifts up other women, their families and their communities to build a more equitable and just world.

Opinion by Gerry Connolly for CNN Business Perspectives

2022-01-27 13:53:59

business

perspectives

https://www.cnn.com/2022/01/27/perspectives/nextgen-feds-act-federal-government-jobs-talent/index.html

Opinion: The government has a talent problem. This bill could help change that - CNN

The NextGen Feds Act seeks to provide a pathway to full-time federal service to interns who successfully complete at least one year of federal internship service.

perspectives, Opinion: The government has a talent problem. This bill could help change that - CNN

The government has a talent problem. This bill could help change that

Gerry Connolly, a Democrat, represents Virginia's 11th Congressional District and currently serves as the Chairman of the House's Government Operations Subcommittee, which has jurisdiction over the federal civil service. The opinions expressed in this commentary are his own. Our workforce is the lifeblood of the US federal government. Without individuals committed to public service, taxpayers, vulnerable populations and small businesses would not have access to critical resources and services. If the federal government fails to attract and hire the best and the brightest into service, the nation and the people it serves suffer. Unfortunately, we're already starting to see this play out. Today, federal agencies are failing to promote and leverage internship and fellowship programs to attract early-career talent. A recent report found that there are nearly six and a half times more federal employees who are older than 50 than under 30. The recently released Biden-Harris Management Agenda Vision also highlighted this increasing age gap in the workforce. In 2008, federal employees age 60 and older comprised about 10% of the workforce. Today, they comprise 14%. Civil service experts foresee a catastrophic retirement tsunami, gutting the federal government. Yet, we currently have no plan to replace those with years of expertise who are poised to leave federal service.As chairman of the House Subcommittee on Government Operations, I have spent three years examining this looming crisis. So last month, I introduced the NextGen Feds Act. Most importantly, the bill seeks to provide a pathway to full-time federal service to interns who successfully complete at least one year of federal internship service. Those interns who meet certain criteria would gain advantage in the hiring process, rewarding acumen and proven talent.Read MoreThis is a much-needed proposal to prevent a workforce breakdown. Despite years of effort, strategic human capital management of the federal workforce remains on the Government Accountability Office's high risk list — the federal watchdog's compilation of federal programs and operations most vulnerable to waste, fraud, abuse or mismanagement, or generally in dire need of transformation. And myriad additional high risk threats stem from the federal government's inability to find, hire and train individuals to fill critical gaps in the federal workforce. These skill gaps involve the financial management of the Department of Defense's weapon systems, the enforcement of our federal tax laws, the cybersecurity of sensitive information, the effective vetting of our national security workforce, and the provision of accessible and quality health care to our veterans — just to name a few. So why has the federal government struggled to attract young people? Some say it's the comparatively low pay for in-demand skills in cybersecurity and artificial intelligence. Meanwhile, Pew Research Center found that Baby Boomers are simply staying in their jobs longer than previous generations, leaving fewer job openings for younger workers. Still, others point to the laborious and opaque hiring processes of the federal government as a barrier to early-career entry. In a poll published in 2019, the federal government's reputation ranked last in comparison to 100 top companies. That is a quite a departure from John F. Kennedy's call to public service.But it isn't just the public sector that is facing a Great Resignation. The pandemic has caused workers across the board to re-evaluate what they look for in an employment package, from telework flexibility, compensation, student loan repayment options and parental leave.This cocktail of hurdles to hiring early career individuals inhibits the federal government's ability to compete for talent with private sector competitors. But we cannot expect federal agencies to fix this problem by themselves — Congress has a pivotal role to play. Surging food prices are hurting those who can least afford it. This is what needs to happenRight now, it is unclear how many federal interns and federal internship programs exist. No federal agency is tasked with collecting such information — or ensuring that interns are treated appropriately and supported throughout their service. The best-known internship program, Pathways, which has interns in agencies across the federal government, had more than 60,000 paid interns in 2010, but by 2020 participation had tanked to just 4,000.While the federal government struggles to count how many interns it has, one private company that competes with the government for talent recently told me that they offer jobs to approximately 96% of their interns. And nearly every offer is accepted. Simply put, individuals graduating from top schools are not attracted to enter federal service, and those who intern for the federal government aren't guaranteed a pathway to full-time work. The NextGen Feds Act will change that. It would bring uniformity and best practices, like mentorships and exit interviews, to federal internships across the government. These measures can improve an intern's experience and help agencies get better at engaging early-career talent. Upon enactment, the legislation would establish a federal internship and fellowship center within the Office of Personnel Management (OPM), and would require OPM to design and manage an online internship platform for agencies and those seeking internships. The legislation seeks to foster diversity, equity, inclusion and accessibility by requiring federal agencies to pay all interns. Our nation is at an inflection point, and the federal government must meet the moment. Young people seek jobs with meaning and flexibility. Federal agencies excel at offering occupations vested in passion and purpose. Government must work to shift the Great Resignation into a bold recruitment and retention effort. As we ring in a new year, we must continue our work to foster a more vibrant, diverse employee population — and find and grow the talent that will innovate us through whatever the future has in store.

Opinion by Rhonda Sideris and Heleena Sideris for CNN Business Perspectives

2022-02-02 13:35:47

business

perspectives

https://www.cnn.com/2022/02/02/perspectives/covid-omicron-small-business-park-city-lodging/index.html

Opinion: Omicron is crushing small businesses like ours. But there are solutions - CNN

It's peak ski season in Park City, and the area is busier than ever before. But our employees are getting sick, as are workers at other businesses, which is creating a massive domino effect in the city.

perspectives, Opinion: Omicron is crushing small businesses like ours. But there are solutions - CNN

It's peak ski season in Utah but droves of employees are sick. This is the result

Rhonda Sideris and her daughter Heleena Sideris are the owners of Park City Lodging, a vacation rental and property management company in Park City, Utah. The opinions expressed in this commentary are their own. Like many other businesses, we've been through our fair share of challenges running our Park City, Utah vacation rental company during the pandemic. We've sacrificed millions of dollars in revenue by honoring generous cancellation policies for guests and keeping properties vacant for a day between bookings to ensure proper cleaning. But this year, we're facing our toughest challenges yet amid the Omicron wave: labor shortages. It's peak ski season in Park City, and given that we've seen an overall surge in people seeking safe outdoor activities, the area is busier than ever before. But our employees are getting sick, as are workers at other businesses, which is creating a massive domino effect in the city, impacting everything from ski resorts and restaurants to snow removal and trash pickup.These kinds of shutdowns have a huge impact on our guests, and therefore our business. The ski resorts don't have enough workers to maintain the ski runs, which means guests have been forced to wait in long lines and ski limited terrain. Some have decided to skip the skiing altogether and just end their vacation early. Through our concierge service, which helps guests plan activities during their stay, we've seen the demand for dining out exceed any previous year on record, but restaurants are frequently closing due to staffing shortages and outbreaks. Still, the onus falls on us to make it right for the guest, which typically entails a last-minute scramble to place them at an open restaurant with availability, or giving them a gift certificate. The staffing shortages have also reached into municipal operations, and we have found ourselves removing snow and trash when city and county workers are out sick, which adds to our own labor costs. We were hoping we'd see some financial relief with the Sundance Film Festival, which is Park City's largest annual event and a cornerstone of the local economy. But it shifted to an all-virtual event. With our properties 98% occupied during this time, this was a major hit to business as guests cancel their bookings.Read MoreA Park City Lodging property in Park City, Utah.Overall, our guests' experience with us has been impacted, and when that happens, we're on the receiving end of the complaint. That's nothing new for us — it comes with the territory in this industry. But this time, we're doing it while covering laundry shifts and cleaning properties. Some of our employees live together in multi-generation households, so if one person is sick, suddenly five employees are out. And our employees who aren't out sick are completely strained. As business owners, we find ourselves doing a lot of cheerleading to keep spirits up for our 79 outstanding employees, many of whom are working extra hours and taking on more work. There are solutions: The US Chamber of Commerce has called for doubling the number of legal immigrants, making it easier for DACA recipients to pursue a path to permanent citizenship, and eliminating barriers to employment like access to affordable childcare for working parents, broadband for rural populations, and equality of opportunity for overlooked talent pools like veterans and formerly incarcerated individuals. These are exactly the types of the solutions we need to be able to hire more workers and run our business at its full potential while riding out the uncertainty of the pandemic. LinkedIn economist: 3 ways the pandemic has dramatically changed the labor marketThe nation's broader labor shortage is impacting us, too. Utah's unemployment rate is 1.9%. We've been trying to fill an upper management position (and about 10 other openings), but despite offering competitive wages, bonuses, tickets to NBA games, ski pass reimbursement, 401(k) plans, vacation time and a company culture we are so proud of, new hires are few and far between. In addition, our payroll has increased by 175% this year to keep up with rising wages. We're doing everything we can, but we need help with this labor crisis. To continue to navigate the pandemic and grow, we need to be able to hire workers that can help take our business to the next level. Until we can hire the necessary team, we are at a standstill. We are grateful to be part of an exceptionally resilient industry. We look forward to the day that this is all behind us — and a strong workforce is standing with us.

Opinion by Brian Deese for CNN Business Perspectives

2022-01-28 15:57:04

business

perspectives

https://www.cnn.com/2022/01/28/perspectives/us-manufacturing-supply-chain-semiconductors/index.html

Opinion: The US is starting to make a manufacturing comeback. Here's how to sustain it - CNN

It's important to enact legislation to put historic levels of funding behind strengthening our supply chains, accelerating research and development in critical technologies, rebuilding manufacturing capabilities across America, and driving greater equity in STEM research and education.

perspectives, Opinion: The US is starting to make a manufacturing comeback. Here's how to sustain it - CNN

The US is starting to make a manufacturing comeback. Here's how to sustain it

Brian Deese serves as the director of the White House National Economic Council, advising President Biden on domestic and international economic policy and coordinating the economic agenda of the Biden‐Harris administration. The opinions expressed in this commentary are his own. The Covid-19 pandemic has laid bare the vulnerabilities in America's domestic manufacturing base. The nation's reliance on globally fragmented supply chains has led to shortages of everything from personal protective equipment to semiconductors to shipping containers. And these supply weaknesses have been a primary driver of elevated price increases. In fact, one-third of the price increases in 2021 were due to higher vehicle-related prices, as global computer chip shortages constrained automakers' ability to keep up with vehicle demand. Thankfully, though, American companies are starting to make positive moves. Intel recently announced it is creating a new $20 billion semiconductor manufacturing complex in Ohio. And General Motors just announced the company's all-time largest investment, which will strengthen its ability to manufacture batteries and electric trucks. These announcements were more than just good news on jobs and supply. They marked a significant milestone in our nation's economic and industrial renewal.We need to sustain this momentum, and that means enacting legislation to put historic levels of funding behind strengthening our supply chains, accelerating research and development in critical technologies, rebuilding manufacturing capabilities across America, and driving greater equity in STEM research and education. Last year, the Senate passed its version with the United States Innovation and Competition Act (USICA), with broad bipartisan majorities, and this week, the House introduced its version with the America COMPETES Act. Getting a final version of this legislation to the President's desk will not only bolster our economic and national security, it will give cities and towns across America the sense of dignity and pride that comes from being part of an American manufacturing comeback. This comeback is long overdue. Sixty years ago, federal investments in basic research and deployment enabled new semiconductor technology to reach commercial viability. After this public-private effort invented the technology, the US private sector led in manufacturing, producing nearly 40% of global production into the early 1990s. However, because of decades of underinvestment and a lack of prioritization of supply chain resilience by both the public and private sector, the US lost that edge. Last year, America's share of global computer chip production was down to 12%. Equally worrying, our country produced none of the more advanced, leading-edge chips, while over 90% of them were produced in Taiwan. Read MoreLinkedIn economist: 3 ways the pandemic has dramatically changed the labor marketThis erosion creates serious national and economic security concerns, at a moment where our reliance on these chips is increasing. Demand for semiconductors was 17% higher in 2021 than 2019. By 2030, more than 20% of the components going into a car will be semiconductors, as the industry shifts to electric and connected vehicles — a five-fold increase from 2019. These concerns fueled President Biden's efforts to create a strategy to strengthen our manufacturing base. One month into office, he signed an executive order directing agencies to fortify our nation's critical supply chains, including focused attention on semiconductors, advanced battery technologies and critical minerals. In June, he released a 100-day report outlining a strategy to address critical vulnerabilities, such as China's 55% control of the world's capacity for mining rare earth minerals. And the President convened business, labor, international allies and members of Congress from both parties to generate stronger coordination, transparency and strategic domestic investment.The result has been an historic recovery for the manufacturing sector. US firms created 349,000 new manufacturing jobs in 2021 — the most in nearly 30 years. Businesses have committed nearly $80 billion in domestic semiconductor investments, alongside tens of billions in new investments — from new solar panel factories to advanced battery plants. With planned investments like these, our economy is positioned to sustain robust growth in our domestic manufacturing sector into the years ahead.However, this won't happen without a committed, domestic investment strategy for industrial resilience. That's why Congress must pass competition legislation to catalyze investment in critical technologies, like semiconductors, and bolster our domestic research and development infrastructure to foster innovation hubs in regions across the country.

Opinion by Elise Gould and Heidi Shierholz for CNN Business Perspectives

2022-03-03 22:45:32

business

perspectives

https://www.cnn.com/2022/03/03/perspectives/jobs-labor-market-stimulus-economy/index.html

Opinion: The economy is recovering fast. But we need to ensure it works for everyone - CNN

We would have millions fewer jobs today if Congress had not enacted the Covid relief and recovery measures it did.

perspectives, Opinion: The economy is recovering fast. But we need to ensure it works for everyone - CNN

The economy is recovering fast. But we need to ensure it works for everyone

Elise Gould is a senior economist at the Economic Policy Institute. Heidi Shierholz is president at the Economic Policy Institute and former chief economist at the U.S. Department of Labor. The opinions expressed in this commentary are their own. When the coronavirus pandemic shut down businesses across the US in spring 2020, the labor market lost 22 million jobs in just two months — more than twice as many jobs lost during the entire Great Recession and financial crisis of 2008-2009. Given that a full labor market recovery from the Great Recession took a decade, there were sincere worries that Covid-19's economic wound could take even longer to heal. But because we undertook a radically different — and better — policy response to the latest crisis, the labor market is far healthier today than anybody expected it would be in those grim early days of the pandemic. Over the last 12 months, the economy has added 6.6 million jobs, an astonishing pace. And while there is still a significant gap in the labor market, we are on track to return to pre-pandemic labor market conditions before the end of 2022 — a recovery that is roughly eight years faster than the recovery from the Great Recession, according to our own calculations. And that's because, unlike in the aftermath of the Great Recession, Congress did what was needed to spur a strong recovery this time around. We would have millions fewer jobs today if Congress had not enacted the Covid relief and recovery measures it did. And these policies have not only made the recovery faster overall, but particularly so for historically disadvantaged groups.In 2020, Congress acted quickly and decisively to help workers and their families, businesses and state and local governments on the front lines of the public health crisis. The first law passed in early March provided emergency funding for the public health response and vaccine research. Shortly thereafter, Congress passed well over $2 trillion in legislation that expanded unemployment insurance, delivered direct payments to households, and provided support to businesses, governments and health care providers. At the end of 2020, Congress passed legislation that provided an additional $900 billion in Covid relief. This bill alone — which is sometimes forgotten among other pandemic legislation — was larger than the American Recovery and Reinvestment Act (ARRA) of 2009, the clear centerpiece of the fiscal response to the Great Recession. And following the significant relief packages of 2020, the American Rescue Plan in March 2021 provided an additional $1.9 trillion in federal relief in the form of additional direct payments and aid to state and local governments, among other fiscal support. And, as investments stemming from the more recently passed Infrastructure Investment and Jobs Act hit the economy in coming years, the recovery and the economy will be made even stronger. We're seeing the extraordinary effects in the jobs numbers. We have gained back almost nine out of every 10 jobs lost during the pandemic, and essentially all groups are seeing dramatically faster recoveries than they did following recent recessions. For example, the Black women's unemployment rate jumped from 5.8% pre-Covid to 16.2% (using a three-month average) in spring 2020, but it is now down to about 6.2% in a fraction of the time it took to recover from the Great Recession. However, even with these significant gains in Black unemployment, the rate remains about twice as high as White unemployment. Clearly, there is more work that needs to be done to address the disparities plaguing the US economy even before Covid-19 struck. That's where strong government action can continue to make a difference. Read MoreThe income numbers are also telling. Families in the bottom 60% of the income distribution benefited enormously from pandemic fiscal relief efforts, which boosted incomes directly and helped spur spending and the labor market recovery. In turn, the fast labor market recovery has boosted wages most strongly for the bottom third of workers, a welcome change from the patterns of recent decades. This relief has also supported historically disadvantaged groups, who are more concentrated in the bottom of the wage distribution because of the impact of structural racism on the labor market. The labor shortage could lead to a recession next yearIt is true that some of the wage gains from a much-improved labor market have been neutralized by the inflation spike this past year. But this inflation was largely from global supply chain problems, and without the strong jobs recovery we have today, this burst of mostly inevitable inflation would've been much more damaging to working families.That said, virtually none of the obstacles in the way of having a better and fairer economy that existed before Covid have yet to be addressed. Policies are needed to restore workers' rights to unions and collective bargaining, the federal minimum wage should be a strong labor market floor rather than essentially the poverty-level wage it's become, and unemployment insurance should be a real safety net rather than the patchy and stingy system it's returned to after temporary but incredibly valuable pandemic enhancements were allowed to wither.Still, it is radically underappreciated how much better off US families are as a result of policies that were put in place during the pandemic. And while enormous disparities still exist, the benefits have been particularly large for low-income households and groups historically disadvantaged by racism — both in current forms and its legacies. It's essential that lawmakers remember the rapid pace of this recovery — and the policy measures that led to it — when we're faced with the next economic crisis. And in the meantime, Congress needs to put policies in place that address the massive imbalances that existed pre-Covid and help create an economy that works for everyone.

Opinion by Janneke Ratcliffe for CNN Business Perspectives

2022-02-16 18:09:55

business

perspectives

https://www.cnn.com/2022/02/16/perspectives/affordable-housing-crisis/index.html

Opinion: How we can solve the nation's affordable housing crisis - CNN

Building more homes for low- and moderate-income families and first-time homebuyers, and equipping these families with reliable and affordable financing tools so they can compete to buy these homes, is essential if we're to solve the nation's affordable homeownership crisis.

perspectives, Opinion: How we can solve the nation's affordable housing crisis - CNN

How we can solve the nation's affordable housing crisis

Janneke Ratcliffe is vice president for the Housing Finance Policy Center at the Urban Institute. The opinions expressed in this commentary are her own. Millions of Americans are losing out on the chance to reap the benefits of homeownership because of a supply shortage. This shortage is most acute among affordable homes, where low- and moderate-income renters, younger first-time homebuyers, and people of color are losing faith that they will be able to experience this part of the American dream. We must do better. The US is in need of roughly 3.8 million to 5.5 million housing units. Building more homes for low- and moderate-income families and first-time homebuyers, and equipping these families with reliable and affordable financing tools so they can compete to buy these homes, is essential if we're to solve the nation's affordable homeownership crisis. In many respects, this crisis was born during the Great Recession. The per-capita rate of new production of single-family homes plummeted in the mid-2000s and has remained at about half that of the preceding four decades. This deficit quietly accumulated even as Millennials, who initially delayed homeownership in the aftermath of the financial crisis, began to enter the market. Then came Covid-19. Low interest rates and quarantines stoked housing demand while labor and materials shortages and supply chain challenges slowed construction and increased costs. Land prices and development costs are also rising in many parts of the country. The result is an environment in which developers are discouraged from building smaller, more affordable homes in favor of high-end homes that can absorb these increased costs while still returning a profit. Meanwhile, many existing home sellers are flooded with generous cash offers, often from investors, and are discouraged from accepting offers from typical first-time buyers who need more time to arrange for and obtain a mortgage. Expect markets to be on a wild ride until the Fed really starts raising ratesPast experiences can provide valuable lessons about how to address this crisis. After World War II, the federal government, recognizing "an unprecedented emergency shortage of housing," made a number of moves, including limiting non-residential construction, removing import tariffs on lumber for building houses, and requiring allocation of building supplies for housing production for a period of time. At the same time, the government enabled families to buy homes with low-down payment, fixed rate, long-term amortizing mortgages facilitated by government guarantees, spurring the demand for new construction of such homes. From 1950 to 1959, an estimated 15 million new homes were built and the homeownership rate rose from 43.6% in 1940 to 61.9% in 1960.Read MoreThe strategy was flawed, however, because the homes and the beneficial financing were largely restricted to White households. Layers of federal and local policies effectively excluded people of color from the opportunity to become homeowners, inequities that have greatly contributed to our current racial homeownership gap. Today, 72% of White households own their home, as compared to 42% of Black households, 48% of Hispanic households and 58% of Asian American and Pacific Islander households. This is unacceptable. The government was correct to treat the housing shortage as an emergency after WWII, and we must rekindle that same urgency today. But we must also consider who we are building homes for. Here are a few ways that we can begin to address the housing shortage:Incentivize new construction of affordable homesFinancial incentives can encourage builders to build new homes that are within reach for many first-time buyers. Possible incentives run the gamut, from federal supports and subsidies, to better terms on construction lending, to fewer local regulations and restrictions that significantly add to building costs. Lift condo lending restrictionsConstruction of condominiums, which are a potential stepping stone for first-time buyers, is at record lows. State- and local government- and federal government-sponsored agencies' restrictions on condo lending presents a big barrier to first-time buyers who need a loan, and in turn to the development of for-sale condominiums. Focus on manufactured housingManufactured, modular, panelized and precut homes are a key piece of the puzzle. Built entirely or partially in factories and assembled on site, these various forms of prefabricated dwellings are an attractive solution because they cost less to produce than homes built on-site. Before 1995, roughly 240,000 manufactured homes shipped annually, compared to less than 100,000 annually now. Similarly, modular, panelized and precut homes constituted 7% of new single-family homes in the 1990s compared to just 3% today. The Urban Institute estimates we could add 200,000 units of new, affordable housing annually by increasing production in these areas. Expanded zoning and building code flexibilities can help spur the creation of manufactured housing. Improve financing for existing homesWithin our existing housing stock are millions of affordable but older homes that need repair. Many people in the market for an affordable home can't just buy a house and repair it because of the way mortgage financing works. Most lenders will only lend against the property's current value, which does not allow enough for the needed repairs. As a result, a potential homebuyer may lose the chance to buy the home to investors and corporations that can afford to buy homes in bulk, finance the repairs, and then rent out the property, prohibiting the property from returning to the market as an affordable home for purchase. The big reason the US and UK are facing such a massive labor shortageLenders, the Federal Housing Administration and Fannie Mae and Freddie Mac can improve terms of financing for purchase/rehab loans, which can help unlock this potential supply by enabling new owners to buy, fix up and live in these homes.Another path to get preserved housing stock into the hands of owner-occupants is to simply update homes before they go on the market, so that would-be owners don't have to wrangle the financing and construction. In many places, community-based developers are bridging this gap with local subsidies or by acquiring foreclosed properties on preferential terms, enabling them to prioritize offers from buyers who plan to live in the home. Empower borrowersNone of these measures will succeed at increasing stable, affordable homeownership if we don't also empower households with better financing tools. Mortgage credit has remained excessively tight since the Great Recession, locking out many solid potential first-time buyers. Government and federal government-sponsored agencies should consider easing financing restrictions generally. Specifically, enabling more small balance mortgages, those under $100,000, with underwriting flexibilities, simplified processes and reduced fees and costs, will help many low- and middle-income families obtain modest homes. Down payment assistance, particularly for first-generation homebuyers, will also provide low-wealth families with a much-needed start on the path to homeownership. Data shows that at this very moment, there are millions of renters, low- and moderate-income households, and people of color who meet the criteria to secure a mortgage. They've done the hard work of positioning themselves to become homeowners. Now we need to do our part by making sure that there are houses for them to buy and reliable financing tools to do so.

Opinion by Carlo Pizzinelli and Ippei Shibata for CNN Business Perspectives

2022-02-03 19:37:01

business

perspectives

https://www.cnn.com/2022/02/03/perspectives/imf-labor-shortage-employment-us-uk/index.html

Opinion: The big reason the US and UK are facing such a massive labor shortage - CNN

The potentially largest contributor to a lag in employment recovery is an exodus of older workers from the labor force. For some, this may reflect health concerns related to the pandemic. Others may have reconsidered their need to work as housing and financial asset prices grew substantially.

perspectives, Opinion: The big reason the US and UK are facing such a massive labor shortage - CNN

The big reason the US and UK are facing such a massive labor shortage

This article has been edited from its original version. It was originally published in the International Monetary Fund's blog. Carlo Pizzinelli and Ippei Shibata are economists in the IMF's Research Department. The opinions expressed in this commentary are their own. Almost two years after the pandemic upended labor markets, job openings are plentiful in many advanced economies, yet workers have not fully returned.The broader trend of plentiful jobs and not enough workers can have major implications for growth, inequality and inflation.This gap, in which the employment rate is below its pre-Covid level, is playing out in the United States and the United Kingdom. Despite tight labor markets, as reflected in high vacancy-to-unemployment ratios and job quits, the employment recovery remains incomplete and below pre-pandemic levels in both countries. Now with a possible cooling effect on labor markets caused by the Omicron wave, this trend could be longer than expected.New IMF staff research uses granular data on employment and vacancies in the US and the UK to assess four commonly held explanations:The effect of generous income support on willingness to seek and take up jobsA mismatch between the types of jobs that are available and the willingness of people to fill themMothers of young children exiting the work force amid continued disruptions to school and childcareOlder workers withdrawing from the labor forceRead MoreWe found that lower participation among older workers not returning to work is the common thread, and matters most. Mismatch plays a secondary role. The fall in female participation is unique to the US, but also quantitatively important.If the broader trend continues, it can have major implications for growth, inequality and inflation. A continued sluggish employment recovery could constrain economic growth while fueling wage increases. While higher wages would be good news for workers, they could further fuel inflation.Generosity of income support programsThe first possible explanation is that income support programs during the pandemic allowed workers to be picky, slowing job applications, acceptances and, ultimately, the employment recovery.However, preliminary evidence reviewed in our paper, including from the recent phasing out of the US federal unemployment insurance supplement, suggests the early removal of Covid-related unemployment benefits had only a modest and temporary effect on getting people back to work.MismatchA second explanation is an increase in the mismatch between the industries and occupations in which the jobless are searching and those with abundant vacancies. Jobs that require in-person interactions, such as in restaurants, hotels and entertainment, have been hit exceptionally hard, while "teleworkable" jobs fared substantially better. Others, like delivery services, even boomed. Could it be that workers who lost jobs in hard-hit industries and occupations struggled to transition into new opportunities, leading to mismatch?LinkedIn economist: 3 ways the pandemic has dramatically changed the labor marketThe short answer is yes, but this is just one part of the story. We find that the employment loss due to mismatch during the crisis has been modest and, to our surprise, smaller than during the Global Financial Crisis. We estimate that, as of early last fall, mismatch explains only about 18% and 11% of the outstanding employment gap versus pre-Covid levels in the US and the UK, respectively.The She-cessionA third explanation seems more potent, at least in the US. The prolonged school closures and scarcity of childcare services put an extra burden on mothers of young children, pushing many to leave the labor force — the so-called "She-cession."We estimate that the excess employment contraction for mothers of children younger than 5 years old compared with other women accounted for around 16% of the total US employment gap with respect to pre-Covid levels as of October 2021. That was down from 23% in early September, thanks partly to the return to in-person schooling later that month. Meanwhile, there was no such She-cession in the UK, where employment fell less for females than for males. A potential explanation is that in the UK nurseries remained opened throughout the pandemic, easing the tradeoff between work and childcare for mothers of young children.Withdrawal of older workersThe final and potentially largest contributor to a lag in employment recovery is an exodus of older workers from the labor force in both countries. For some, this may reflect health concerns related to the pandemic. Others may have reconsidered their need to work as housing and financial asset prices grew substantially.As of September, the rise in inactivity among workers age 55 and up accounted for around 35% of the outstanding employment gap versus pre-pandemic levels in both economies. It's unclear how many of those who retired or quit may eventually return to the labor force.Beware of scarringTaken together, mismatch, the She-cession and older workers' withdrawal from the labor force may account for roughly 70% of the US employment gap compared with pre-Covid levels. In the UK, there has been no She-cession, but about 10% of the employment gap can be attributed to mismatch and 35% to older workers' withdrawal from labor force.Omicron is crushing small businesses like ours. But there are solutionsFurther, the outflow of foreign workers after Brexit — accelerated by the pandemic — entailed a progressive fall in the number of those job seekers willing and able to fill open vacancies. Our analysis leaves a potential, albeit mostly residual, role for other factors such as the effect of elevated unemployment benefits and other pandemic-related income support.If a larger number of older workers permanently retire and a lack of affordable childcare and pre-school opportunities continue to keep some women with young children at home, the pandemic could leave persistent employment scars, notably in the US.Whether the reason for not returning to work is early retirement or lack of childcare, one common thread exists: US and UK vacancies are highest among low-skill occupations and employment in these jobs remains below pre-2020 levels. The rise in voluntary quits — the so-called "great resignation" — are also greatest for low-skilled jobs. While it remains to be seen how widespread and persistent this phenomenon will be, these facts hint at a possible change in worker preferences triggered by the pandemic.To minimize the risk of scarring to employment, addressing the pandemic remains key, so workers are fully able to return to the labor market. So are well-designed training programs to reduce risks of mismatch, and — particularly in the US — expanded childcare and preschool opportunities.

Opinion by Gad Levanon for CNN Business Perspectives

2022-02-25 14:12:14

business

perspectives

https://www.cnn.com/2022/02/25/perspectives/inflation-labor-shortage-economy-recession/index.html

Opinion: The labor shortage could lead to a recession next year - CNN

With pressure to contain inflation mounting, the Fed may raise interest rates faster than it currently predicts, and further depress economic growth in 2023.

perspectives, Opinion: The labor shortage could lead to a recession next year - CNN

The labor shortage could lead to a recession next year

Gad Levanon is the chief economist at the Burning Glass Institute. He's the former head of The Conference Board's Labor Market Institute. The opinions expressed in this commentary are his own. Over the past 12 months, US consumer prices rose by 7.5%, the highest rate in nearly 40 years. Worse, inflation is showing no signs of slowing.The Federal Reserve typically fights inflation by raising interest rates, which slows the economy by reducing the demand for goods and services. Ideally, the rate increases are sufficient to slow inflation without leading to a recession. But the problem is that the Fed cannot precisely control the rate of economic growth. So with the central bank expected to raise rates next month, barring a major impact on the US economy from the war in Europe, the question remains: Can the Fed contain inflation without triggering a recession? While we probably won't see a downturn this year, a recession next year is becoming increasingly likely, for a number of reasons.First, there is typically a lag between an interest rate hike and its economic effect. Some estimates suggest that it takes one to two years for the impact of monetary policy to peak. While the Fed is likely to start raising rates in March, most of its hikes are likely to occur in the second half of this year. That means that the negative economic impact will be much stronger in 2023 than in 2022. Second, the in-person services sector, hard-hit by the pandemic, is likely to continue its rapid growth through 2022. Spending on things like restaurants, hotels, entertainment, public transportation, hairdressers, gyms and many other consumption categories may not fully recover in 2022, but the receding fear of the pandemic will spur strong growth. Read MoreThat may sound like good news, but most of the positive impact of the recovery of in-person services will trail off by early 2023. Spending on these services will have normalized by then, just as the higher interest rates pack their strongest wallop. Why inflation is about to peakWhat's more, a strong recovery in in-person services this year will also fuel the demand for workers, which we at the Burning Glass Institute expect to grow by about 4 million during 2022. We expect that to lower the unemployment rate from 4% now to below 3% in early 2023. This low unemployment will sustain wage pressures, which will continue to feed inflation. In the second half of 2022, the Federal Reserve may find that, despite its early interest rate hikes, inflation is not coming down much. The Fed's hard-earned credibility on containing inflation will erode. With pressure to contain inflation mounting, it may raise interest rates faster than it currently predicts, and further depress economic growth in 2023.Far from receding with the pandemic, the labor shortage will become the new normal. Pandemic-related factors such as the drop in immigration, early retirements and lower labor force participation among working-age people combined with long-running underlying trends have radically reduced the US labor supply. In 2020, for example, the working-age population of the US started shrinking, driven by longer-term factors like the baby boomer generation aging and retiring. In addition, women's labor force participation rate stopped growing, while that of men and young adults have declined dramatically even before the pandemic. The fact is that labor shortages are not going anywhere. Would the Fed's interest rate hikes be enough to set off a 2023 recession? That's not yet clear, but it is a real possibility. What is certain is that the dwindling labor supply is becoming a serious constraint on US economic growth.

Opinion by Erik Lundh for CNN Business Perspectives

2022-02-17 14:32:21

business

perspectives

https://www.cnn.com/2022/02/17/perspectives/inflation-cpi-economy-pandemic/index.html

Opinion: Why inflation is about to peak - CNN

With fewer people getting sick, there should be more workers in the transportation sector (truckers and dock workers, for instance) — helping to get goods from producers to consumers.

perspectives, Opinion: Why inflation is about to peak - CNN

Why inflation is about to peak

Erik Lundh is a principal economist at The Conference Board. The opinions expressed in this commentary are his own. Last year was a tough one for American consumers. Prices for just about everything, from eggs to used cars to electricity, crept higher, and by the end of the year were up 7% from a year earlier. Unfortunately, that number went even higher last month, with the Consumer Price Index (CPI) hitting 7.5% year-over-year in January, a 40-year high. But there is good news: This alarmingly high inflation number should begin to drop soon.When the Omicron variant started to spread, it greatly disrupted the economy as millions of workers called in sick or quarantined. This exacerbated the inflation trends that we saw earlier in 2020. There weren't enough factory workers to make things, there weren't enough truck drivers to make deliveries, and there weren't enough clerks to restock shelves. This created shortages, which in turn jacked up prices on a range of goods, including milk, ham, dishware and even textbooks. I saw this when I went shopping last month. You probably did as well. Meanwhile, demand for goods held up despite the recent Omicron wave. Recently published retail sales data showed strong consumer spending in January. This was consistent with The Conference Board's Present Situation Index, which gauges current consumer sentiment. The index showed rising spending intentions for large items, like homes, automobiles and major appliances. This willingness to spend made shortages (and price gains) that much more acute last month.However, with new Covid-19 cases plummeting, many of these disruptions should start to ease and allow supply to strengthen and better meet demand — meaning more modest inflation. That could make shopping for your summer wardrobe, buying a new grill and loading up on hamburger buns easier to stomach as the weather improves. With fewer people getting sick, there should be more workers in the transportation sector (truckers and dock workers, for instance) — helping to get goods from producers to consumers. Staffing disruptions at factories and on farms should improve as well. Furthermore, as more Americans feel comfortable spending on services, like going to the movies, to theme parks or to local restaurants, some of the elevated demand for goods seen over the course of the pandemic should come down a bit too. This should also help moderate inflation — provided that the service sector can handle the return of these customers.Read MoreHow we can solve the nation's affordable housing crisisTo be clear, the latest frighteningly high year-over-year inflation reading — the one that always makes headlines — will take some time to reflect these easing disruptions. That's because this annual number includes all of the month-over-month price gains we've seen over the last 12 months. So, it will take time for the math to catch up with the reality. I expect to see the annual inflation number start to tick down when the March CPI data is released. That said, some goods will indeed remain expensive for quite a while. New car prices, for instance, are unlikely to come down anytime soon. That's because of a global shortage in semiconductors, which will take some time to solve. Home prices will probably continue to rise as well, though perhaps at a slower rate. That's largely thanks to both rising demand from aging millennials and chronic underbuilding in the decade following the financial crisis.The reality is that the pandemic's impact on supply chains, energy prices, transportation costs and consumer spending patterns will take a year (or longer) to normalize. Additionally, the Federal Reserve's more hawkish stance on monetary policy will take time to implement and still more time to impact prices. Beyond that, other factors will likely keep inflation from falling back to pre-pandemic rates. Rapidly rising wages associated with labor market tightness, for instance, will be with us for quite some time. The good news is that consumers can take some solace knowing that large price increases won't go on forever. The pandemic seems to be easing, and high inflation will, too.

Opinion by Lauren Ghazal

2022-01-25 23:11:01

news

opinions

https://www.cnn.com/2022/01/25/opinions/nurse-burnout-covid-19-ghazal/index.html

Opinion: Our nursing workforce will keep crumbling if changes aren't made - CNN

Ask any nurse in the United States -- there are more than 4 million of us -- "How are you doing?" and the answer will be the same: "Nurses are not OK." After nearly two years, the Covid-19 pandemic has upended us.

opinions, Opinion: Our nursing workforce will keep crumbling if changes aren't made - CNN

Our nursing workforce will keep crumbling if changes aren't made

Lauren Ghazal, PhD, is a board-certified family nurse practitioner in New York and a postdoctoral research fellow at the University of Michigan in Ann Arbor. The views expressed here are her own. View more Opinion on CNN. (CNN)Ask any nurse in the United States -- there are more than 4 million of us -- "How are you doing?" and the answer will be the same: "Nurses are not OK." After nearly two years, the Covid-19 pandemic has upended us.I know this firsthand. I am a family nurse practitioner as well as a researcher. Over the past few months as Omicron cases have spiked, my colleagues and I have been stretched to our limits. Lauren GhazalI see patients of all ages and from all walks of life, many of whom don't have a primary care provider. I help them manage multiple aspects of Covid -- testing, vaccination, treatment -- in addition to filling in those gaps in primary care. Right now, there are no simple and quick health care visits, and there aren't enough nurses to take care of the need. It has been heartbreaking to turn patients away because of the lack of available appointments. But for many of the patients I treat, the reality of the pandemic today may feel better than it did in 2020. We have vaccines and booster shots, better treatment plans and a much more abundant supply of masks and other personal protective equipment (PPE). Much of the public, for better or worse, has found an equilibrium of living life while trying to mitigate the risk of contagion. Inside the hospitals and clinics where I work, however, the reality is much different. For nurses, 2022 can often feel far grimmer than what we experienced at the start of the pandemic. We have vaccines and more PPE now, yes, but being on the front lines of waves of infections has carried an extreme physical and emotional burden that's leading to immense burnout.Read MoreParents' fury over school closures is righteous, but misdirectedAt times, I've received requests to pick up additional overtime shifts or to "volunteer" my time at a local hospital when other nurses have been out. When I get these requests, I feel a trepidation far worse than what I felt on that day in early April 2020 when an emergency alert popped up on my iPhone, "Attention all healthcare workers: New York City is seeking licensed healthcare workers to support healthcare facilities in need." When I read those words, I knew we were in crisis. What I didn't know is the extent to which our workforce would suffer.It is more than the labor of taking care of a greater number of patients that is wearying. It is also the hopelessness that comes from seeing no end in sight and meeting people who won't face the truth. I encounter vocal fellow Americans who still deny that the pandemic is a real threat, that the SARS-CoV2 virus that causes Covid-19 is airborne, that people can die from it (currently more than 5.5 million globally) or suffer from long-term complications. This rejection of reality feels like betrayal. While my colleagues and I are doing everything we can to treat patients despite our own exhaustion, there are still patients filling waiting rooms who have not gotten vaccinated or taken preventive measures such as wearing masks to protect themselves and help curb the influx of new Covid-19 hospitalizations. And while some of the public may choose to be "done" with the pandemic, or live as though it doesn't exist, for health care workers like myself there has been no escape.Covidtests.gov is off to a strong start but big hurdle awaitsSo, now when I get a request to pick up extra hours due to staff shortages, I am faced with a dilemma: take on the work and add to my already considerable exhaustion or turn it down and know that patients and the stretched-thin nursing staff will suffer as a result. Many times, I choose to take on the work.My friends and colleagues in the nursing profession have said that they face the same tug of war between taking care of themselves and taking care of others. "If I don't show up, who will? We don't have enough nurses to safely care for our patients," one colleague told me. Our burnout is caused by a systemic mess we didn't create but one that we are forced to address daily. The pandemic has broken open the cascade of problems leading to this health care emergency in nursing. We don't have enough skilled nurses to treat the number of patients across all health care settings. On top of that, we have a pipeline issue: To train more nurses, we need more educators, but universities are struggling to fill faculty backlogs because, sadly, nurse faculty salaries are far lower (on average $20,000 less) than clinical or private sector roles.Without financial boosts to nursing schools, expanding loan forgiveness for nurse educators and researchers, and funding of the Department of Health and Human Services' Medicare Graduate Nurse Education Demonstration, nursing schools may continue to face faculty shortages. Additionally, the American workforce is undergoing a rapid transformation as part of the "Great Resignation," as American workers seek a better work-life balance than the generations before us. For nurses, that means turning toward options like travel nursing -- short-term employment contracts in hospitals and regions that are in dire need but that also offer compensation that easily eclipses the salary of local staff nurses. These types of assignments are not new, but they're now in high demand, creating a precarious impact on the financial health of hospitals. Parents of the youngest kids are not OK right nowEach day, I am tempted by the emails I receive from travel nurse recruiters for both registered nurse and nurse practitioner positions. And I know I am not alone when asking: Why should nurses tolerate the exceedingly high workloads and verbal and physical abuse without the higher pay that travel nursing assignments offer? Especially given that inadequate compensation is a contributing factor to nurse burnout.Earlier in the pandemic, there were brief glimpses of light. I remember the overwhelming emotion I felt while receiving my first Moderna vaccination as a cancer survivor and frontline worker at a New York Department of Health building in Harlem in early January 2021. And for a while, scrolling on social media, I would find a friend or family member post proudly about receiving a vaccine. Speaking to other nursing friends who were working in intensive care units, there was also a shift to better treatment plans for Covid-19. While we were exhausted, we were hopeful. Now, as we enter our third year of the pandemic, those helpful feelings are hard to hold onto. Many nurses are left to silently suffer as they face overwhelming feelings of exhaustion, irritability, anxiety and sadness that are chipping away daily at our mental health. One recent study published in JAMA Psychiatry found that, compared to the general female population, female nurses are at two times higher risk of death by suicide. I was relieved when my sons got mild Covid-19. Then I thought about thisThis raises the question: In a pervasive pandemic with the potential for continued infection and illness, can the United States afford to ignore nurse suffering? Neighbors have performatively applauded nurses for our resiliency, yet our leaders have failed to provide critical support to nurses that moves beyond the performance. Providing mandated nurse staffing to ensure patients can continue to receive high quality of care, offering higher compensation and providing mental health support are three places to start. More direct, a January 20 letter from the Massachusetts Nurses Association to Gov. Charlie Baker explicitly details 14 steps that he and hospital administrators should take to address this health care crisis in nursing.Earlier this year, the nursing profession was once again ranked highest in honesty and ethics -- an honor it has touted for 20 years. But now, this honest and ethical profession is shrouded in extreme burnout. The human and emotional toll that nurses have been asked to shoulder has come to a head, and we need your help. We ask the public to mask up, vaccinate and stay home if you have symptoms or test positive. And we ask for more leaders, inside and outside the nursing field, to advocate for higher wages and nurse faculty packages. Get our free weekly newsletterSign up for CNN Opinion's newsletter.Join us on Twitter and FacebookNurses have long been advocates for our patients, and now we need both patients and employers to value our lives and labor and advocate for us. Let us all practice some compassion and patience, not only for our nurses and health care workers but for each other. At this rate, our workforce will continue to crumble if bold changes aren't made.Since the start of the pandemic, nurses and other frontline workers have been called heroes. I often balk at the hero title; it perpetuates the idea that nurses' self-sacrifice is acceptable and no help is needed. But in fact, we do need help, and we need it quickly.

Opinion by Kara Alaimo

2022-01-25 17:44:01

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opinions

https://www.cnn.com/2022/01/25/opinions/parents-covid-school-closure-anger-alaimo/index.html

Opinion: Parents' fury over school closures is righteous, but misdirected - CNN

With so many parents saying they're doing worse now than they were at the start of the pandemic, it's not surprising that the debate about who is responsible is getting ugly, writes Kara Alaimo, who argues American women and Democrats are the last groups who should be taking the blame. It's time we all instead turn our attention to those who are actually at fault, she says.

opinions, Opinion: Parents' fury over school closures is righteous, but misdirected - CNN

What we're still not facing about parents' Covid anger

Kara Alaimo, an associate professor in the Lawrence Herbert School of Communication at Hofstra University, is a frequent contributor to CNN Opinion. She was spokeswoman for international affairs in the Treasury Department during the Obama administration. Follow her on Twitter @karaalaimo. The opinions expressed in this commentary are solely those of the author. View more opinion at CNN. This piece has been updated to reflect the latest news. (CNN)Infectious disease experts are starting to sound hopeful again, and the numbers of new Covid-19 infections are falling in places like New York City. But that doesn't change the fact that right now, pediatric cases and hospitalizations are at record levels, schools in some parts of the country are going remote (again) -- and American parents are at the end of our ropes. Kara Alaimo Indiana University sociologist Jessica Calarco, who surveys parents, says we're doing worse now than we were at the start of the pandemic. Seventy percent of mothers say they're overwhelmed, according to her research. So it's not surprising that the debate about who is responsible for this crisis is getting ugly. But two of the parties taking heat lately are the very last people we should be blaming: American women and Democrats. It's time we all instead turn our attention to those who are actually at fault: the people perpetuating vaccine misinformation and those who, long before the pandemic and continuing now, have failed to provide families with adequate support. Mothers who have argued that schools should stay open say they've been called racist or "Karens" -- and say they've heard privately from other moms who are afraid even to speak up for fear of being ostracized. JUST WATCHEDParents asked to be substitute teachers amid shortageReplayMore Videos ...MUST WATCHParents asked to be substitute teachers amid shortage 02:03Meanwhile, on the other side of the debate, teachers' unions -- which are largely made up of women -- have been enduring unjustified public wrath. Before ultimately reaching a deal with the Chicago Teachers Union after a contentious battle over remote learning, Chicago mayor Lori Lightfoot accused teachers of holding kids "hostage." Debating whether schools in the US should have been closed to the degree they were during the first two years of the pandemic is fair, but that doesn't justify extreme language or condemnation of union leaders for taking their responsibilities to make schools safe now seriously. Read MoreRemember that most teachers never signed up to teach during a pandemic, yet unions are largely asking for safety measures, not full school shutdowns. What's more, some teachers have understandable reasons for not wanting to teach in person at a time of such high case counts -- such as being parents to kids who are too young for vaccines or having their own underlying health conditions. A lot of parents want our children in school and acknowledge that's the best option for many kids, but it would be ideal for districts to provide remote options for the families and teachers who have legitimate reasons for requesting them. The threat Robert F. Kennedy Jr. poses to Covid-19 vaccination effortsParents who direct their anger at moms in this impossible debate about how to balance children's educations and health keep the focus off those who are actually harming kids. The ugliness of these exchanges reminds me of the supposed culture wars between stay-at-home and working moms, which has for years conveniently taken attention away from businesses and lawmakers for their lack of family-friendly policies that make motherhood near impossible for us all. But it's especially unconscionable to attack moms now -- given that we're the ones who largely deal with the fallout when schools shut down or our kids get sick. Another group wrongly being blamed for this crisis is Democrats (often at the state and local level). Some parents are now angrily faulting the party for not being more insistent that schools stay open. It's true that, early on, unlike European countries, some American politicians left businesses like restaurants open while schools were closed. But that shameful policy was largely led by Republican governors, in states like Georgia, Florida and Texas.And now, the ire of these parents is incredibly misguided. The way to keep schools open is to stop the spread of this virus by getting more people vaccinated. The other best way to help moms is to solve our child care crisis. These are both things Democrats at every level are trying to do. Schools in Flint, Michigan, are sticking with remote learning indefinitely. Families say they're struggling to keep it upThe biggest enemies of parents right now are people who refuse to get vaccinated. We need all eligible people to get vaccines to reduce community spread in order to keep schools open and safe -- and to protect kids who are too young for vaccines. If we want to blame anyone for our problems, we should start with the unvaccinated. We should also be calling out the people and organizations who enable anti-vaxxers, from social networks that host their misinformation to companies that don't require their employees to get vaccinated. Of course, it's unlikely that a lot of the people who oppose vaccines vociferously will change their minds at this point, but that doesn't change the fact that they're the responsible party.Democrats simply aren't the enemy here: Like Democrats throughout the country, President Joe Biden has been imploring people to get vaccinated and tried requiring large companies to implement vaccine mandates or testing, but was stymied by the Supreme Court in a truly outrageous ruling. The future of the GOP isn't about Ron DeSantis or Glenn YoungkinWith many refusing vaccines, the best thing we can do is also, of course, mask up -- a policy also largely favored by Democrats but opposed by some Republicans, including Virginia Gov. Glenn Youngkin, who recently repealed school mask mandates. The other thing parents most need right now is affordable, accessible child care. The cost of child care in centers has risen sharply during the pandemic, according to a Lending Tree report. In September, the Treasury department said over 60% of families are paying more for child care than they can afford. That's if they can access it at all: Child care centers (and parents like me who have babies who are too young to wear masks and therefore want to hire providers in our homes) are finding it incredibly difficult to find workers. Last month, there were 111,400 fewer people working as child care providers than in January 2020, according to the Bureau of Labor Statistics. A big part of the problem is that our country doesn't invest in kids. The average rich nation spends $14,436 per child on child care per year. The US spends $500. Get our free weekly newsletterSign up for CNN Opinion's newsletter.Join us on Twitter and FacebookDemocrats have tried to fix this, of course. Biden's Build Back Better plan would -- among many other policy priorities -- subsidize child care for most parents of children under age 6 and provide universal preschool for 3 and 4-year-olds. It would be the biggest expansion of public education in a century. So rather than yelling at Democrats in general, who are trying to fix the problem, it would be fairer to express outrage at Republicans who don't support it and the Democratic senators standing in the way of its passage: Joe Manchin and, to a lesser extent, Kyrsten Sinema. Even if, hypothetically, all of them object to other parts of Build Back Better and not its child care provisions, any one of them could put forward their own legislative efforts to address this gaping need for parents and caregivers. But that's not what's happening. It's understandable that parents are super stressed right now. But that's not an excuse to blame the people trying to get us out of this mess. Also recall that it was the Republican Trump administration that failed to manage the pandemic properly at the outset, which got us into this crisis in the first place. And some Republicans, like Youngkin, have been resisting measures to contain the virus. Weakening the Democratic party stands to help elect more politicians like this -- which would be the very worst outcome possible for moms.Moms, teachers and Democrats are largely not to blame for this raging pandemic. If parents want our nightmare to end, we've got to call out the anti-vaxxers and opponents of child care measures who are responsible for perpetuating it. And we all have to actively support political candidates at every level of government who favor vaccines, public masking and infrastructure improvements to keep schools open and safe, along with smart policies to make child care available and affordable for every family.An earlier version of this story misstated the name of Indiana University Bloomington.

Opinion by Jonathan Reiner

2022-01-23 00:36:10

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opinions

https://www.cnn.com/2022/01/22/opinions/alcohol-heart-health-reiner/index.html

Opinion: If you think that glass of wine is good for you, it's time to reconsider - CNN

While there has been research to suggest a glass of wine a day can promote longevity or heart health, the consensus on alcohol's salutary effects has started to change, writes Jonathan Reiner.

opinions, Opinion: If you think that glass of wine is good for you, it's time to reconsider - CNN

If you think that glass of wine is good for you, it's time to reconsider

Jonathan Reiner, MD, is a CNN medical analyst and professor of medicine and surgery at George Washington University. The views expressed in this commentary belong to the author. View more opinion on CNN. (CNN)Several years ago, at the end of a clinic visit, a long-time patient with end-stage heart disease who was nearing the end of his life asked me if it was OK to drink some wine.The patient was a physician, and he knew what most lay people do not: Despite the widespread belief a little alcohol is good for your heart, it isn't. I thought for a moment, and told him, "Only good wine."For thousands of years, alcohol, particularly wine, has been used for medicinal purposes. The ancient Greek physician Hippocrates promoted wine for various purposes, including reducing fevers and dressing wounds. Maimonides, the 12th century scholar, rabbi and physician also extolled the health benefits of wine in moderation. During Prohibition in the early 20th century, it was common for physicians to prescribe medicinal alcohol, which was legally dispensed at pharmacies, for ailments ranging from cancer to depression. How the Biden administration can ensure mask access to all AmericansFor many years it was thought moderate doses of alcohol were associated with a reduced risk of death, whereas higher amounts of drinking were associated with increased risk. And while there has been research to suggest a glass of wine a day can promote longevity or heart health, the consensus on alcohol's salutary effects has started to change.Humans metabolize alcohol mostly in the liver, where it is converted into acetaldehyde, a known carcinogen. Last July, a study published in Lancet Oncology estimated 4% of the world's newly diagnosed cases of cancer in 2020, totaling almost 750,000 people, were related to alcohol use. The authors of the study found the cancer risk was highest for people who drank a lot, but even more moderate drinkers still had an increased risk of developing cancer.Read MoreIn 2018, the Lancet published a different study of alcohol use in 195 countries and found the risk of all-cause mortality, and specifically dying from cancer, rises with increasing levels of alcohol consumption. The authors noted the way to minimize the risk was not to drink at all.This past week, the World Heart Federation issued a policy stating no level of alcohol consumption is safe for the heart. The ironically-named Dr. Beatriz Champagne who chaired the advocacy committee which produced the report said, "In brief, our position is that studies showing a significant cardioprotective effect of alcohol consumption have by-and-large been observational, inconsistent, funded by the alcohol industry, and/or not subject to randomized control. Furthermore, any potential cardioprotective effect is negated by the well-documented risks and harms, rendering our judgment that no amount of consumption can be considered good for heart health." Get our free weekly newsletterSign up for CNN Opinion's newsletter.Join us on Twitter and FacebookIn addition to its carcinogenic properties, alcohol is also a cardiotoxin, and chronic heavy consumption can weaken the ability of the heart to contract, ultimately leading to potentially fatal congestive heart failure. Even brief episodes of binge-drinking can precipitate atrial fibrillation, a condition in which the heart rate increases and beats out of rhythm.At a time when many Americans have increased alcohol consumption during the pandemic, how should one contextualize the World Heart Federation's dry pronouncement?Start by having an honest conversation with your doctor about how much you drink and how it can potentially affect your health. If you drink alcohol, do so because you enjoy it, not because you believe it's good for you. The most recent data suggests it is not. And if you do enjoy alcoholic beverages, drink in moderation because there is abundant data showing the more you drink, the greater the risks to your health.As for my patient who asked about drinking wine, several months after his death, a package was delivered to my house. It was brought by his wife, who was honoring his final instructions. In the box was a case of "only good wine." There are still a few bottles left, and each time I drink one, I savor each sip, think of him, and smile.

Chloe Melas, CNN

2022-03-04 01:49:32

entertainment

entertainment

https://www.cnn.com/2022/03/03/entertainment/pete-davidson-space-jeff-bezos/index.html

Pete Davidson in talks to head to space on Jeff Bezos' Blue Origin - CNN

Pete Davidson might be headed to space.

entertainment, Pete Davidson in talks to head to space on Jeff Bezos' Blue Origin - CNN

Pete Davidson in talks to head to space on Jeff Bezos' Blue Origin flight

(CNN)Pete Davidson might be headed to space.The "Saturday Night Live" star is in talks with Jeff Bezos to join one of his upcoming Blue Origin space flights, a source with knowledge of the conversations told CNN.This source said the idea came about when Davidson and his girlfriend, Kim Kardashian, joined Bezos for dinner at the Amazon founder's Los Angeles home in January. Davidson's potential space flight, first reported by the New York Post, is not finalized but the insider told CNN an announcement is likely in the coming weeks. If Davidson does take flight, he will follow in the footsteps of celebrities like Michael Strahan and William Shatner who have taken part in a Blue Origin mission. Read MoreBlue Origin's suborbital flights reach more than 62 miles above Earth, which is widely considered to be the edge of outer space.Bezos hopes that these flights will help begin a new era of space tourism. CNN has reached out to Blue Origin and Davidson's representative for comment.

Lisa Respers France, CNN

2022-03-09 15:15:43

entertainment

entertainment

https://www.cnn.com/2022/03/09/entertainment/courteney-cox-friends/index.html

Courteney Cox still doesn't remember 'Friends' - CNN

Please don't ask Courteney Cox to quote dialogue from "Friends" episodes.

entertainment, Courteney Cox still doesn't remember 'Friends' - CNN

Courteney Cox still doesn't remember 'Friends'

(CNN)Please don't ask Courteney Cox to quote dialogue from "Friends" episodes.Despite the 10 seasons she spent on the massively popular series, Cox has reminded the world that she doesn't remember much about her time on the show.She recently told "Sunday Today" that her lack of memory put her at a disadvantage for last year's HBO Max "Friends" reunion (HBO Max is owned by CNN's parent company)."I should've watched all 10 seasons because when I did the reunion and was asked questions, I was like, 'I don't remember being there,'" Cox said. "I don't remember filming so many episodes."She said she'll sometimes catch episodes on TV and has no recollection. "But it's so funny."Read MoreCox, who played Monica Geller on "Friends," said her memory has always been bad."I don't remember any trauma in my childhood," she said. "But I have like three memories. I don't know. I don't know why."Though her lines on "Friends" aren't imprinted in her memory, Cox said she understands why the series remains so popular despite going off the air in 2004. "It doesn't matter what generation is watching, it holds up," she said. "I think the comedy is relevant."

Lisa Respers France, CNN

2022-02-08 16:08:07

entertainment

entertainment

https://www.cnn.com/2022/02/08/entertainment/javier-bardem-penelope-cruz-oscars/index.html

Javier Bardem and Penélope Cruz join history with their Oscar nominations - CNN

Javier Bardem and Penélope Cruz are in good company.

entertainment, Javier Bardem and Penélope Cruz join history with their Oscar nominations - CNN

Javier Bardem and Penélope Cruz join history with their Oscar nominations

(CNN)Javier Bardem and Penélope Cruz are in good company.One Tuesday, the duo became the sixth married couple to be nominated in acting categories in the same year at the Oscars.Bardem was nominated for best actor for his role as Desi Arnaz in "Being the Ricardos," while Cruz snagged a nomination for her role as Janis in "Parallel Mothers."Oscars 2022: No Spider-Man, no Bond. Can streaming save the day?Past married nominees include Lynn Fontanne and Alfred Lunt; Frank Sinatra and Ava Gardner; Elsa Lanchester and Charles Laughton; Rex Harrison and Rachel Roberts and Richard Burton and Elizabeth Taylor.Other couples who were not married but also nominated for acting awards in the same year include Vivien Leigh and Laurence Olivier (who would later marry) and longtime partners Jack Nicholson and Anjelica Huston. Read MoreThis year Kirsten Dunst and Jesse Plemons fall into that category. The couple have reportedly been engaged for years and share two children. She was nominated for best supporting actress for her role in "The Power of the Dog" and he for supporting actor in the same film.

Chloe Melas, CNN

2022-03-12 20:38:25

entertainment

entertainment

https://www.cnn.com/2022/03/12/entertainment/hailey-bieber-blood-clot-brain-hospital/index.html

Hailey Bieber says she is home after being hospitalized for a blood clot in her brain - CNN

Hailey Bieber said she was hospitalized for experiencing "stroke like symptoms" earlier this week.

entertainment, Hailey Bieber says she is home after being hospitalized for a blood clot in her brain - CNN

Hailey Bieber says she is home after being hospitalized for a blood clot in her brain

(CNN)Hailey Bieber said she was hospitalized for experiencing "stroke like symptoms" earlier this week.The model and wife of Justin Bieber explained the scary situation to her fans in an Instagram post to her stories on Saturday."On Thursday morning, I was sitting at breakfast with my husband when I started having stroke like symptoms and was taken to the hospital," she wrote. "They found I had suffered a very small blood clot to my brain, which caused a small lack of oxygen, but my body had passed it on its own and I recovered completely within a few hours. Although this was definitely one of the scariest moments I've ever been through, I'm home now and doing well, and I'm so grateful and thankful to all the amazing doctors and nurses who took care of me!"She ended her message by writing, "Thank you to everyone who has reached out with well wishes and concern and for all the support and love."Bieber appeared to reference his wife's health in his own Instagram post with a photo of them with the caption, "Can't keep this one down," along with a series of emojis. Read MoreCNN has reached out to Bieber's camp for further comment.

Lisa Respers France, CNN

2022-03-02 18:49:01

entertainment

entertainment

https://www.cnn.com/2022/03/02/entertainment/jennifer-hudson-talk-show/index.html

'The Jennifer Hudson Show' to debut in fall 2022 - CNN

There's a new voice coming to the daytime talk show scene.

entertainment, 'The Jennifer Hudson Show' to debut in fall 2022 - CNN

'The Jennifer Hudson Show' to debut in fall 2022

(CNN)There's a new voice coming to the daytime talk show scene.Warner Bros. (which is owned by CNN's parent company) announced Wednesday that Academy Award and Grammy-winning artist Jennifer Hudson will helm a talk show that will air on Fox television stations."I have experienced so much in my life; I've seen the highest of the highs, the lowest of the lows, and just about everything in between but as my mother always told me, 'Once you think you've seen it all, just keep on living,'" Hudson said in a statement. "People from around the world have been a part of my journey from the beginning -- twenty years ago -- and I'm so ready to join their journey as we sit down and talk about the things that inspire and move us all," Hudson added. "I have always loved people and I cannot wait to connect on a deeper level and let audiences see the different sides of who I am, the human being, in return. And I couldn't be more thrilled to do it alongside this incredible team. We're about to have a lot of fun and shake things up a little bit!"Hudson first came to fame as a contestant on "American Idol" before releasing multiple albums and starring as Effie White in the 2006 film "Dreamgirls," a big-screen adaptation of the hit Tony-winning Broadway musical.Read MoreHudson won a best supporting actress Oscar for the role.She suffered a great tragedy after her mother, brother and young nephew were murdered by her sister's estranged husband in 2008. Hudson most recently starred as Aretha Franklin in the film "Respect." The one-hour talk show will debut in the fall.

Lisa Respers France, CNN

2022-03-07 14:36:56

entertainment

entertainment

https://www.cnn.com/2022/03/07/entertainment/angelina-jolie-yemen/index.html

Angelina Jolie travels to Yemen amid Ukrainian war - CNN

Angelina Jolie drew parallels between refugees in Yemen and those suffering because of the war in Ukraine.

entertainment, Angelina Jolie travels to Yemen amid Ukrainian war - CNN

Angelina Jolie travels to Yemen to aid refugees and renews call for humanitarian access in Ukraine

(CNN)Angelina Jolie drew parallels between refugees in Yemen and those suffering because of the war in Ukraine.The star, who has for years worked closely with the United Nations Refugee Agency (UNHCR), shared that she had traveled to Yemen in a video on her verified Instagram account over the weekend."I've landed in Aden, to meet displaced families and refugees for UNHCR @refugees and show my support for the people of Yemen," the caption read. "I will do my best to communicate from the ground as the days unfold.""As we continue to watch the horrors unfolding in Ukraine, and call for an immediate end to the conflict and humanitarian access, I'm here in Yemen to support people who also desperately need peace," she continued."The situation here is one of the worst humanitarian crises in the world, with one civilian killed or injured every hour in 2022," wrote Jolie who has served as a special envoy for UNHCR. "An economy devastated by war, and over 20 million Yeminis depending on humanitarian assistance to survive."Read MoreIn 2020, Jolie donated an undisclosed sum of money to a pair of British youngsters who started a lemonade stand to raise money for those affected by the crisis in Yemen.

Lisa Respers France, CNN

2022-01-03 16:16:13

entertainment

entertainment

https://www.cnn.com/2022/01/03/entertainment/janet-jackson-documentary-trailer/index.html

Janet Jackson's documentary: The revelations we can't wait for - CNN

The trailer for Janet Jackson's forthcoming two-night documentary is "All For You."

entertainment, Janet Jackson's documentary: The revelations we can't wait for - CNN

Janet Jackson's documentary: The revelations we can't wait for

(CNN)The trailer for Janet Jackson's forthcoming two-night documentary is "All For You."That's if you are someone who has been following her longstanding career and wondering about the intensely private singer and actress.Here are just a few of the moments from the trailer that have folks excited that we are about to get some serious tea:Justin Timberlake and the Super Bowl fiascoJanet Jackson and Justin Timberlake perform at half-time at Super Bowl XXXVIII in 2004.Jackson suffered a great deal of fallout from the halftime Super Bowl XXXVIII performance in 2004 when part of her breast was briefly exposed during a performance with fellow artist, Justin Timberlake.Read MoreThe incident was dubbed "Nipplegate," Jackson was banned from the Grammys that year and reportedly lost out on some acting roles.Jackson said in a statement at the time that it was a "costume reveal" gone awry and issued an apology. Timberlake also apologized for the incident and said it was "not intentional and is regrettable."But Jackson bore the brunt of the criticism and many have not forgiven Timberlake for what they view as his refusal to support her at the time. Every Super Bowl since, supporters take to Twitter for "Janet Jackson Appreciation Day." The indicent was revisited in 2017 when Timberlake was the halftime performer for Super Bowl LII."Justin and his team have been trying to contact us about you doing the Super Bowl," Jackson is told in the trailer for her documentary. There had been an outcry on social media for Timberlake to include Jackson in his halftime show as a form of apology.That secret child rumorA headline flashes that reads "Janet Jackson Had Secret Baby In the 80s James DeBarge Claims."That's another claim that fans have long wondered about.Jackson and DeBarge (who was also a member of a famous singing family) eloped in 1984 when she was 18 and he was 21.Their marriage was annulled the following year, but for years there's been a story circulating that the pair had a daughter that they kept hidden.Jackson gave birth in 2017 to son Eissa with her now ex husband Wissam Al Mana.Michael JacksonThe Jackson family film a TV show at Burbank Studios, California, 13th November 1976. From left to right, Randy, La Toya, Marlon, Janet, Michael, Jackie, Rebbie and Tito. Janet Jackson is the youngest in her family of siblings. When asked in the trailer who among her five brothers and two sisters she's closest to, she responds brothers Randy and "Mike."Michael Jackson died of cardiac arrest in 2009 at the age of 50 and there is still controversy over child molestation allegations against the late King of Pop.His family have long denied the allegations and he was acquitted of child molestation charges following a trial in Santa Maria, California, in March 2006.In the trailer, Janet Jackson asks their mother, Kathrine Jackson, if she's able to talk about her son and the matriarch emotionally declines.Janet Jackson admits that the allegations against her famous brother affected her career."Guilty by association," she says. "Guess that's what they call it, right?"The two night event kicks off January 28 on Lifetime and A&E.

Analysis by Brian Lowry, CNN

2022-01-09 10:31:16

entertainment

movies

https://www.cnn.com/2022/01/09/movies/sidney-poitier-movies-greatest-roles/index.html

Analysis: Sidney Poitier left behind a legacy of landmark roles, but some smaller gems as well - CNN

Sidney Poitier left behind a legacy of landmark performances, from his Oscar win for "Lilies of the Field" to the Oscar-winning "In the Heat of the Night," the latter coming in a year, 1967, that also saw him star in "To Sir, With Love" and "Guess Who's Coming to Dinner."

movies, Analysis: Sidney Poitier left behind a legacy of landmark roles, but some smaller gems as well - CNN

Sidney Poitier left behind a legacy of landmark roles, but some smaller gems as well

(CNN)Sidney Poitier left behind a legacy of landmark performances, from his Oscar win for "Lilies of the Field" to the Oscar-winning "In the Heat of the Night," the latter coming in a year, 1967, that also saw him star in "To Sir, With Love" and "Guess Who's Coming to Dinner."The richness of the filmography assembled by Poitier, who died Thursday at the age of 94, makes it difficult to choose a favorite film or role. On different days, that might be "Porgy and Bess;" "A Raisin in the Sun," reprising his part in from the play about a struggling Chicago family; or "The Defiant Ones," which earned him his first best-actor Oscar nomination as an escapee on the run chained to a Southern bigot played by Tony Curtis. (In a loaded year, both Curtis and Poitier earned nominations, along with Spencer Tracy and Paul Newman, but the award went to David Niven for "Separate Tables.")Those movies only scratch the surface of a half-century of screen work, which helped pave a path for other performers of color -- a burden the actor bore with considerable grace, despite the challenges and strictures he faced.As Variety's Tim Gray noted in framing the decades when Poitier's career peaked, the US Supreme Court ruling against miscegenation laws in Loving v. Virginia occurred only months before the release of "Guess Who's Coming to Dinner." "While the message of tolerance in 'Guess Who's Coming' may seem hoary," he wrote, "it was an eye-opener to many."Still, there are other movies and TV miniseries to add to any Poitier watch list, yielding a by-no-means comprehensive roster of additional recommendations -- presented in chronological order -- that might not have been mentioned as prominently in initial remembrances and tributes.Read MoreBlackboard Jungle (1955): Poitier played a student in a tough school filled with juvenile delinquents before he made audiences swoon a dozen years as a teacher with a British class full of them. Here, Glenn Ford played the teacher trying to break through to the kids, with Vic Morrow as the worst of the bad apples.Edge of the City (1956): The pairing of Poitier and John Cassavetes as two longshoremen, with Jack Warden as a truly hissable villain, elevates this film from director Martin Ritt. Like many prominent roles for Black actors in this period, the arc of Poitier's character, alas, existed largely to set up a moral dilemma for his co-star to confront.A Patch of Blue (1965): Poitier starred opposite Elizabeth Hartman as a blind woman whom he befriends (the title describes her last memory of vision), while Shelley Winters earned an Academy Award as one of the world's worst mothers.They Call Me Mister Tibbs! (1970) and The Organization (1971): After the success of "In the Heat of the Night," Poitier returned in two standard but enjoyable sequels as Virgil Tibbs, the big-city detective, with the first capitalizing on one of the more memorable movie lines from the 1960s.Buck and the Preacher (1972) and Uptown Saturday Night (1974) and): Poitier not only starred in but directed both of these films, playing opposite Harry Belafonte in a western and Bill Cosby in a light comedy-action vehicle, which was successful enough to spawn a pair of re-teamings with Cosby, the appropriately titled "Let's Do It Again" and "A Piece of the Action." His work behind the scenes also included directing "Stir Crazy," the prison comedy with Gene Wilder and Richard Pryor.Separate But Equal (1991): Moving to TV, Poitier played future Supreme Court Justice Thurgood Marshall in this ABC miniseries about the Brown v. Board of Education case in 1954, also featuring Burt Lancaster in his final role.Sneakers (1992): A disposable but extremely fun caper film with an excellent cast that featured Poitier and Robert Redford as part of an elite security team. One of several entertaining if not particularly significant movies from the tail end of his career, including "Shoot to Kill" and "Little Nikita."

Review by Brian Lowry, CNN

2022-02-25 22:02:15

entertainment

entertainment

https://www.cnn.com/2022/02/25/entertainment/cyrano-review/index.html

'Cyrano' review: Peter Dinklage stars in a musical film that doesn't hit enough of the right notes - CNN

"Cyrano de Bergerac" has been the model of a tragic love triangle for 125 years, often imitated but seldom equaled. The play turned movie under many different guises now adds a film version of the musical, "Cyrano," which provides a fine showcase for Peter Dinklage in a different take on the tortured hero but doesn't hit enough high notes to distinguish its unstained plume.

entertainment, 'Cyrano' review: Peter Dinklage stars in a musical film that doesn't hit enough of the right notes - CNN

'Cyrano' creates a showcase for Peter Dinklage but doesn't hit enough of the right notes

(CNN)"Cyrano de Bergerac" has been the model of a tragic love triangle for 125 years, often imitated but seldom equaled. The play turned movie under many different guises now adds a film version of the musical, "Cyrano," which provides a fine showcase for Peter Dinklage in a different take on the tortured hero but doesn't hit enough high notes to distinguish its unstained plume.Dinklage trades in the customary prosthetic nose for his stature, which provides the impediment here to expressing his love for his cousin Roxanne (Haley Bennett), whose fondness for him is strictly platonic.But of course, Roxanne has fallen for the handsome Christian (Kelvin Harrison Jr.), who despite his striking features lacks confidence or style when it comes to the art of romance. The awkward solution is for Cyrano to write to her (and in the famous balcony scene, speak for him), expressing his love for Roxanne without revealing the source or his true feelings.It's a hard story to screw up, and director Joe Wright ("Atonement," and more recently "Darkest Hour") doesn't. But the musical flourishes work at best fitfully, in part because of the mediocrity of the songs, and in part because of those performing them, who are generally on firmer ground during the spoken dramatic interludes.Haley Bennett and Peter Dinklage in 'Cyrano.'Indeed, Dinklage's speaking voice is a well-tuned instrument without resorting to song, and the Emmy-winning "Game of Thrones" star brings a genuine pathos to Cyrano's plight to go with the humor and swashbuckling associated with the role.Read MoreThat said, he joins very good, expectations-raising cinematic company in bringing this character to the screen, including Jose Ferrer's Oscar-winning (and in terms of screen depictions, standard-setting) 1950 portrayal and Gerard Depardieu in a French version four decades later. And of course, that doesn't mention all the variations on the theme, a la "Roxanne," starring Steve Martin; or Netflix's recent teen versions "Sierra Burgess is a Loser" and "The Half Of It."Like many recent releases, "Cyrano" has followed a circuitous path to the screen. The movie received an Oscar-qualifying run -- its lone nomination coming for costume design -- then had its official release delayed due to the Omicron variant. It thus arrives later and with less fanfare than the producers clearly hoped.Thanks to the cast (which also includes Ben Mendelsohn, near-unrecognizable as the villainous De Guiche), "Cyrano" is worth seeing, either now or later. But it's a relatively modest addition to the title's storied history, one where the music subtracts at least as much as it adds to the story's inherent poetry."Cyrano" premieres in select US theaters on Feb. 25. It's rated PG-13.

Review by Brian Lowry, CNN

2021-12-22 14:07:23

entertainment

entertainment

https://www.cnn.com/2021/12/22/entertainment/sing-2-review/index.html

'Sing 2' review: Bono joins in as the sequel serves up another round of animated karaoke for kids - CNN

Like the first movie five years ago, "Sing 2" mostly works on split levels, offering a jukebox assortment of popular songs that parents will recognize, and having cute animated animals belt them out to divert children. The result is a breezy exercise in karaoke for kids, where the soundtrack beats the movie and a lot of stars again lend their voices to the chorus.

entertainment, 'Sing 2' review: Bono joins in as the sequel serves up another round of animated karaoke for kids - CNN

'Sing 2' cheerfully serves up another round of animated karaoke for kids

(CNN)Like the first movie five years ago, "Sing 2" mostly works on split levels, offering a jukebox assortment of popular songs that parents will recognize, and having cute animated animals belt them out to divert children. The result is a breezy exercise in karaoke for kids, where the soundtrack beats the movie and a lot of stars again lend their voices to the chorus.The core players remain largely the same, with koala bear impresario Buster Moon (Matthew McConaughey, whose recent good career decisions include not singing or running for governor of Texas) betting on his ability to launch an elaborate stage show in Redshore City, which looks a whole lot like Las Vegas.Unfortunately, the ruthless casino mogul (Bobby Cannavale) who runs the place insists that Buster land the participation of an aging rock-star lion (Bono), who has essentially become a hermit, as a condition of bankrolling the production, just one of the many hurdles that Buster and his pals encounter.In addition to Bono, legit musical stars Pharrell Williams and Halsey join returning cast members Reese Witherspoon, Scarlett Johansson, Taron Egerton, Tori Kelly, and Nick Kroll, with writer-director Garth Jennings reprising that role as well.Still, the real star of "Sing" is the music, and the producers have seemingly spared no expense on that score, with a roster of tunes that include U2's "Where the Streets Have No Name" (Bono's there for a reason) as well as "Let's Go Crazy," "Goodbye Yellow Brick Road," "Higher Love," "I Say a Little Prayer" and more.Read MoreThe animation is colorful, with the protracted show -- mounted under considerable duress -- accounting for a sizable chunk of the movie.It's empty calories, and a highly calculated musical sugar rush. Still, this franchise from Illumination (the outfit behind "Despicable Me" and "Minions") doesn't really aspire to be anything more than fun, and on the most basic level, delivers just enough of it, especially for the pre-puberty demo.Besides, for parents who wince at their tykes' musical tastes, it's probably a public service introducing kids to some of the songs with which their moms and dads grew up, all wrapped in a bright, anthropomorphic package."Sing 2" premieres Dec. 22 in US theaters. It's rated PG.

Review by Brian Lowry, CNN

2022-03-10 15:03:07

entertainment

entertainment

https://www.cnn.com/2022/03/10/entertainment/the-adam-project-review/index.html

'The Adam Project' review: Ryan Reynolds comes back from the future in a 'Free Guy' reunion for Netflix - CNN

Reuniting star-producer Ryan Reynolds and director Shawn Levy after their winning collaboration on "Free Guy," "The Adam Project" has the generic feel of a project created by committee, combining action, humor and smart-alecky one-liners in a way that's at best aggressively okay. That's probably enough for Netflix coming off a success with Reynolds in "Red Notice," but like the film's plot, this amounts to rehashing history.

entertainment, 'The Adam Project' review: Ryan Reynolds comes back from the future in a 'Free Guy' reunion for Netflix - CNN

'The Adam Project' brings Ryan Reynolds back from the future in a 'Free Guy' reunion

(CNN)Reuniting star-producer Ryan Reynolds and director Shawn Levy after their winning collaboration on "Free Guy," "The Adam Project" has the generic feel of a project created by committee, combining action, humor and smart-alecky one-liners in a way that's at best aggressively okay. That's probably enough for Netflix coming off a success with Reynolds in "Red Notice," but like the film's plot, this amounts to rehashing history.Reynolds neatly sums up "The Adam Project's" modest ambitions in the production notes, saying that the concept "ticked every box for us." That means giving the star a chance to be heroic and funny, while adding a dollop of heart that borders a bit too much on sappiness.The producers were equally shrewd in the casting, having Jennifer Garner and Mark Ruffalo playing the Reynolds character's parents, serving up a bonus reunion of the 2004 rom-com "13 Going on 30."That said, the central relationship is actually between Reynolds' Adam and his 12-year-old self, played by Walker Scobell.Having lost his dad, the young Adam is warned by his mom that "The future is coming sooner than you think," but that can't possibly prepare him for what happens next: The elder Adam blasts into our time from 2050, employing time-travel technology to try stopping a villain (Catherine Keener) by altering the past in order to change the future.Read MoreThe kid not surprisingly has several million questions, and seems amusingly pleased that his scrawny, bullied self has grown up to be an accomplished pilot who's resourceful in a fight and not incidentally pretty ripped. (Reynolds, of course, played a pilot in "Green Lantern" before another superhero, "Deadpool," firmly established his current brand.)"We've seen 'Terminator,' right?" the older version asks the younger one, capturing the general irreverence toward the science-fiction underpinnings of the enterprise, which rather unabashedly approaches the time-travel aspect as a fertile comedic device and an opportunity to explore heart-tugging moments regarding family and words left unspoken.The back-from-the-future premise also includes a subplot involving Adam's lost wife (Zoe Saldaña, adding another Marvel veteran in a smallish role) and leads to some inordinately bad computer-generated de-aging graphics, the kind of shortcoming that's mildly distracting but easily ignored.Indeed, the underlying strength of "The Adam Project" is that it keeps serving notice not to overthink things, but rather to sit back and enjoy Reynolds' banter with his younger self as well as the colorful action.It's passable on those terms, but not much more than that, reflecting the pitfalls of Netflix's current movie strategy, which beyond a handful of prestige awards-seeking titles seemingly consists of attracting big promotable stars and volume, volume, volume."The Adam Project" recalls the past in cinematic terms by feeling conspicuously like what used to be dubbed a "B" movie, a genre that no longer has much traction in theaters. The modern twist on that is you needn't leave home, or directly pay extra, to consume its simple formula, stacked a rather rickety foundation of ticked-off boxes."The Adam Project" premieres March 11 on Netflix.

Review by Brian Lowry, CNN

2022-01-12 18:44:11

entertainment

entertainment

https://www.cnn.com/2022/01/12/entertainment/scream-review/index.html

'Scream' review: Courteney Cox, David Arquette, and Neve Campbell reunite with a new cast to refresh the formula - CNN

Always meta in its nods to the genre's quirks, the latest "Scream" is so self-referential as to risk swallowing its own tail. Yet this quarter-century-later "requel" (a term specifically explained in the movie) turns out to be a great deal of fun, cleverly wedding familiar faces with new stars in what isn't exactly a remake or reboot but rather plays like a refresh.

entertainment, 'Scream' review: Courteney Cox, David Arquette, and Neve Campbell reunite with a new cast to refresh the formula - CNN

'Scream' pairs original cast members and new stars to refresh the formula

(CNN)Always meta in its nods to the genre's quirks, the latest "Scream" is so self-referential as to risk swallowing its own tail. Yet this quarter-century-later "requel" (a term specifically explained in the movie) turns out to be a great deal of fun, cleverly wedding familiar faces with new stars in what isn't exactly a remake or reboot but rather plays like a refresh.Horror has been one of the more reliable subgenres during the pandemic, but the current Omicron wave has complicated the calculus. Still, wherever people wind up seeing this designed-to-please slasher movie -- even if that's minus a crowd -- it should possess a healthy shelf life.Half the battle was won, in hindsight, during the casting, tapping Melissa Barrera ("In the Heights"), Jenna Ortega ("Stuck in the Middle") and Jack Quaid ("The Boys") for key roles among the younger contingent, while bringing back Neve Campbell, Courteney Cox and David Arquette in their original roles.The trick comes in replicating elements of the original by the late director Wes Craven (to whom the movie's dedicated) and writer Kevin Williamson -- a horror flick that actually runs down the rules for surviving a horror flick, then watches the characters break them anyway -- updating that by overlaying the new on the old.All that's achieved, fairly impressively, while simultaneously lampooning the original, its three sequels and that 25-year relationship with the audience, but still treating it with a level of every-detail-counts earnestness generally reserved for movies with superheroes or spaceships. Plus, there are plenty of references to recent horror movies, their varying levels of ambition and where "Scream" fits in.Read MoreIt spoils nothing to say the basic template remains intact, with an incident involving Ortega's character bringing her older sister (Barrera) back to the town of Woodsboro, accompanied by her boyfriend (Quaid). An earlier killing spree there prompted a series of movies, meaning this Ghostface killer is tapping into that mythology, leaving no shortage of suspects or bodies.The newbies get the bright idea of seeking out advice from old pros, which is where Arquette, Cox and Campbell come into the picture, however grudgingly.Directors Matt Bettinelli-Olpin and Tyler Gillett deliver the requisite gore by the bucket, never letting an open door -- closet, refrigerator, you name it -- go unexploited in terms of trying to milk a jump or scare out of it.As noted, venerable horror franchises like "Halloween" have managed to lure people to theaters during this challenging time, bucking the overall trend.That might not rate high in the rules for surviving a pandemic, but it bodes pretty well for "Scream" proving successful enough to rise again, whether that's a sequel, remake, reboot, or as in this case, essentially all of the above."Scream" premieres in US theaters on Jan. 14. It's rated R.

Review by Brian Lowry, CNN

2022-02-10 17:11:53

entertainment

entertainment

https://www.cnn.com/2022/02/10/entertainment/marry-me-review/index.html

'Marry Me' review: Jennifer Lopez and Owen Wilson star in a 'meet dumb' rom-com - CNN

Designed to showcase Jennifer Lopez playing a character that could hardly be called a reach, "Marry Me" trades in the "meet cute" rom-com formula for "meet dumb." Lopez still gets ample opportunities to sing a hummable soundtrack, but even within the genre's parameters, the silly premise deals the movie a blow from which it never entirely recovers.

entertainment, 'Marry Me' review: Jennifer Lopez and Owen Wilson star in a 'meet dumb' rom-com - CNN

'Marry Me' shines the spotlight on Jennifer Lopez in a 'meet dumb' rom-com

(CNN)Designed to showcase Jennifer Lopez playing a character that could hardly be called a reach, "Marry Me" trades in the "meet cute" rom-com formula for "meet dumb." Lopez still gets ample opportunities to sing a hummable soundtrack, but even within the genre's parameters, the silly premise deals the movie a blow from which it never entirely recovers.The fascination with Lopez's personal life -- and her romantic history with other famous folk -- sometimes overshadows her talents, which is an underlying theme in this film that she also produced. Her return to this territory will surely represent a cause for Valentine's Day celebration in some quarters, after past entries like "The Wedding Planner" and "Maid in Manhattan."That said, the set-up feels especially strained, even before you get to the "Notting Hill"-like notion of the special challenges when an ordinary guy becomes involved with a glamorous entertainer. In a movie that hinges on an impulsive decision, it's hard not to wish somebody had spent at least a little more time agonizing about the script, which is actually based on a graphic novel.Lopez's Kat Valdez is on top of the world, about to marry fellow musical superstar Bastian (played by singer Maluma) during a televised concert. The made-for-TV nuptials will serve the dual purpose of promoting their single "Marry Me," illustrating how she leads her life completely in the public eye.Confronted by the news that Bastian cheated on her, she decides to take what she later describes as "a leap of faith" by proceeding with the wedding ceremony by plucking a divorced math teacher, Charlie Gilbert (Owen Wilson), out of the crowd.Read MoreJennifer Lopez and Owen Wilson in 'Marry Me.'It is, as she acknowledges, an "insane situation," one that her loyal manager ("Game of Thrones'" John Bradley) is eager to make go away. But of course, the plot calls for Kat and Charlie to try maintaining the pretense of a connection a few months for face-saving purposes, just long enough for the pop princess and public-school proctor to begin appreciating each other's qualities, with the threat that she might reconcile with Bastian looming over the nascent relationship.A nice guy and a single dad, Charlie is quick to admit that "I don't fit" in Kat's under-the-spotlight sphere, which hinges to an unhealthy degree on live streams and followers. The Universal release also goes out of its way to synergistically incorporate sister NBC properties, with "Today's" Hoda Kotb and "The Tonight Show's" Jimmy Fallon receiving nearly as much screen time as any of the supporting players except perhaps Bradley and Sarah Silverman as Charlie's friend and coworker.Marking the feature debut for TV director Kat Coiro ("Dead to Me" and the upcoming "She-Hulk"), "Marry Me" conjures a few sweet moments, lots of music, and a "King for a Day" quality in Charlie's plight, with Kat's jet-setting lifestyle and paparazzi suddenly stalking his every move.A genre reborn: Inside the evolution of the rom-comYet while the movie is unabashed about its rom-com roots, such fare isn't exactly rare these days, having simply migrated from theaters to venues like Netflix, which seems to churn them out in bunches. (Notably, the movie will premiere simultaneously on NBC's streaming service Peacock as well as theaters.)Admittedly, the mere union of Lopez and this light-hearted premise will be enough to prompt some to say, "I do." Strictly on its merits, though, "Marry Me" is the kind of generic offer all but the most hopeless romantics can afford to refuse."Marry Me" premieres Feb. 11 in US theaters and on Peacock. It's rated PG-13.

Analysis by Brian Lowry, CNN

2022-01-10 16:57:02

entertainment

entertainment

https://www.cnn.com/2022/01/10/entertainment/power-of-the-dog-globes-analysis/index.html

'The Power of the Dog' and its Globes win show that the awards power is in streaming - CNN

The Golden Globes were reduced to a footnote this year -- chased from TV and their usual NBC showcase by questions about the organization's membership and its integrity, relegated to announcing winners Sunday by Twitter and press release.

entertainment, 'The Power of the Dog' and its Globes win show that the awards power is in streaming - CNN

'The Power of the Dog' and its Globes win show that the awards power is in streaming

(CNN)The Golden Globes were reduced to a footnote this year -- chased from TV and their usual NBC showcase by questions about the organization's membership and its integrity, relegated to announcing winners Sunday by Twitter and press release.Yet the group's choice of "The Power of the Dog" as the year's best drama reflect what feels like a message to other award shows -- a major nod to the power of streaming -- as the entertainment industry wrestles with the shift away from theatrical viewing to at-home consumption, especially for prestige films.Simply put, box-office dollars, the most obvious metric for weighing a movie's popularity, no longer tell the whole story. And if award voters have any interest in recognizing movies that people have seen -- and will thus harbor some rooting interest in the choices -- the calculus needs to shift to how many watched them, not strictly how many have directly paid for the privilege.Netflix and other streaming services don't provide much help in issuing clear data that possesses the simplicity of perusing a box-office chart. But films like "Power of the Dog," the slow-burn western starring Benedict Cumberbatch, and the star-studded satire "Don't Look Up" have clearly become favorites among Netflix subscribers, producing the kind of chatter and debates in social media that televised award shows, foremost among them the upcoming Oscars, desperately need.Media outlets, notably, have been slow to catch on to this shifting reality, a trend made significantly worse during the pandemic. The New York Times, for example, recently fretted about what sluggish box-office figures mean for award shows, in an article headlined, "The Oscars Want Crowd-Pleasers, but Where Are the Crowds?"Read MoreThe "crowds," pretty obviously, are at home, scattered from communal viewing to consume entertainment on their schedules. And that has produced "crowd-pleasers," or at least movies that have generated buzz, just as Netflix intended when it embarked on the mission of seeking to establish its movies as credible award candidates, after growing to rival HBO in TV's awards race.Tom Holland and Benedict Cumberbatch in 'Spider-Man: No Way Home.'Indeed, the only genuine "crowd-pleaser" to speak of this year, in the conventional sense, is "Spider-Man: No Way Home," the $1-billion-plus international hit, which appears destined to join the rarefied $700-million club in terms of domestic box-office grosses occupied by "Star Wars: The Force Awakens," "Avengers: Endgame," "Avatar" and "Black Panther."After flirting in 2018 with introducing a "popular film" category to bring such blockbusters into the Oscar ceremony, the Academy of Motion Picture Arts and Sciences took the next best step, expanding the field of best-picture contenders to 10, theoretically opening up slots for more widely-seen movies.Such plans don't always work out, but with "Spider-Man" propping up the theatrical movie business almost single-handedly, if ever there was a year to invite a superhero to Hollywood's biggest party, it's this one.Otherwise, the power in this year's awards race resides in movies that have made a splash in streaming, including others that notched significant Globes wins: Amazon's "Being the Ricardos" for star Nicole Kidman, Will Smith in "King Richard" (which surely fared better on HBO Max than it did at the box office), and Andrew Garfield for his role in Netflix's musical "Tick, Tick ... Boom!"Whether that math persists forever is unknown, but for now, "The Power of the Dog" is the sort of "hit," however fuzzy the streaming data, which could help bring additional sizzle to an awards system challenged on multiple fronts.The Golden Globes have been a mess, and the Hollywood Foreign Press Association that presents them remains enmeshed in the process of cleaning up its collective act. Nevertheless, in assembling their nominees and winners for 2022, they seem to have embraced a reality that much of Hollywood has been slow -- and perhaps understandably reluctant -- to grasp.

Review by Brian Lowry, CNN

2021-11-19 14:17:52

entertainment

entertainment

https://www.cnn.com/2021/11/19/entertainment/tick-tick-boom-encanto-review/index.html

'Encanto' and 'Tick, Tick ... Boom' review: Lin-Manuel Miranda isn't throwing away his movie shots - CNN

"Encanto" is about a movie about what makes us special, seriously enlivened, by Lin-Manuel Miranda's musical gifts.

entertainment, 'Encanto' and 'Tick, Tick ... Boom' review: Lin-Manuel Miranda isn't throwing away his movie shots - CNN

With 'Encanto' and 'Tick, Tick ... Boom,' Lin-Manuel Miranda isn't throwing away his movie shots

(CNN)Lin-Manuel Miranda is not throwing his shots, and in 2021, the creator of "Hamilton" has been getting a whole lot of them.After his earlier work "In the Heights" became a critically admired (if little seen) movie, Miranda has made his directing debut with "Tick, Tick ... Boom!," a loving adaptation of "Rent" creator Jonathan Larson's coming-of-stage story, and written eight original songs for "Encanto," a Disney animated film featuring a predominantly Latinx cast. That follows another animated movie, Netflix's "Vivo," which he produced in addition to writing the music.Although he is working from a script by Steve Levenson ("Dear Evan Hansen"), Miranda has clearly approached "Tick, Tick" as a deeply personal ode to musical theater in general and in particular Larson, who tragically died on the eve of what would become "Rent's" record-breaking run at the age of 35.Deftly expanding the source material into a movie, the film is anchored by a sensational performance by Andrew Garfield as Larson, with the title referring to the sense that his bravado about becoming "the future of musical theater" is running dry, with timing running out, in his eyes, as he approaches his 30th birthday.Capturing the creative process on film also poses a tricky proposition, but Miranda mostly manages to do just that, while conveying the palpable anxiety that Larson feels about at what point he transitions from being a writer who waits tables to make ends meet to becoming "a waiter with a hobby."Read MoreThe echoes of "Rent" throughout are also everywhere, reflecting how Larson eventually went from trying to sell an esoteric concept set in the future to writing about subjects very close to home, including struggles to keep the lights on (literally) and the ravages of AIDS at the time."Tick, Tick ... Boom!" is filled with happy surprises, and Garfield receives able support from Alexandra Shipp, Robin de Jesus and Vanessa Hudgens, as well as Bradley Whitford as legendary composer Stephen Sondheim.If Larson took the right advice when he decided to "write what you know," Miranda, as a director, has taken that advice to heart as well.Mirabel (voiced by Stephanie Beatriz), center, in the Disney animated feature 'Encanto,' featuring songs by Lin-Manuel Miranda.As for "Encanto," feeling like an outcast is one of the most durable themes in Disney animation, which has become more relevant as those movies have moved in a more progressive direction than ol' Walt's early days. "Encanto" reflects a more recent tradition, in a movie about what makes us special, seriously enlivened, again, by Miranda's musical gifts.Miranda did the same for "Moana," and "Encanto" possesses many similar charms, with a sizable dollop of "The Incredibles" in its focus on a super-powered family. The main departure, and it's an interesting one, is the lack of a traditional villain, an absence that's felt but mostly overcome by the warmth and energy behind the execution, which effectively draws audiences into the story.Set in a magical town in Colombia, Disney's 60th animated feature begins with a nod to a particularly sober real-world phenomenon -- namely, the plight of refugees. But amid their loss comes the magic that has made the Madrigal family flourish, with each possessing a remarkable gift under the watchful eye of matriarch Alma (María Cecilia Botero).Everyone, that is, except Mirabel ("Brooklyn Nine-Nine's" Stephanie Beatriz), who emerged empty-handed from the gifting ritual, still determined to be as much a part of the family as her parents and sisters."Gift or no gift, I am just as special as the rest of my family," Mirabel tells the local children, but she seems as doubtful of the truth of that as they are.Still, just as one of Mirabel's cousins comes of age and her sister is about to marry, strange things start happening, with signs that the family's magic is beginning to fade. Mirabel thus becomes the Cassandra warning of danger, something her grandma has no interest in hearing, merely reinforcing Miirabel's sense that it has fallen to her to save everyone.Directed Jared Bush and Byron Howard ("Zootopia") and co-directed by Charise Castro Smith, "Encanto" compensates for the dearth of traditional conflict with a colorful world filled with powers and an abundance of music."I will never be good enough for you," an exasperated Mirabel says at one point.Happily, "Encanto" is plenty good enough for families seeking a sprinkle of that Disney animated magic, just as is "Tick, Tick ... Boom!" brings theater into the home."Tick, Tick ... Boom!" premieres Nov. 19 on Netflix. "Encanto" premieres in US theaters on Nov. 24. It's rated PG.

Analysis by Brian Lowry, CNN

2021-12-18 15:08:51

entertainment

entertainment

https://www.cnn.com/2021/12/18/entertainment/spiderman-box-office-column/index.html

Analysis: 'Spider-Man' throws movie theaters a lifeline as they swing into the unknown - CNN

"Spider-Man: No Way Home" demonstrates it's still possible to amass a giant opening weekend at the box office, even if such super-powered numbers have become rare, bordering on unheard-of amid the pandemic.

entertainment, Analysis: 'Spider-Man' throws movie theaters a lifeline as they swing into the unknown - CNN

'Spider-Man' throws movie theaters a lifeline as they swing into the unknown

(CNN)When they post a big rating these days, TV executives are often fond of saying, "The pipes still work." They mean that while the audience has scattered among hundreds of options, old-time broadcasters can deliver a level of mass reach that's hard to equal anywhere else.The same adage applies to movie theaters this weekend with the arrival of "Spider-Man: No Way Home," a film that's demonstrating it's still possible to amass a giant opening weekend at the box office, even if such super-powered numbers have become rare, bordering on unheard-of amid the pandemic.Indeed, initial box-office returns for the third "Spider-Man" movie have felt like a psychological balm for a movie industry cast into crisis mode about its future. Dramas and more serious movies were already migrating to streaming, but even titles designed as popcorn-selling crowd pleasers have struggled as theaters have sought to recover.One blockbuster won't be enough to turn back the clock or drive scary headlines about the latest Covid variant out of people's minds. Yet seeing "Spider-Man: No Way Home" early at an industry screening -- normally a more jaded assembly than an opening-night crowd -- brought back some of the particular joys associated with watching movies in a communal setting.At key moments, there were whoops, cheers and appreciative laughs -- loud in places, more muted in others where the references surely played to a subsection of the audience. After attending screenings for months in sparsely populated theaters to allow for social distancing, the experience felt like a reminder of how certain kinds of movies benefit from being shared.Read MoreThe audience reaction didn't match "Avengers: Endgame" in its boisterousness, but it did bring to mind that moment early in the pandemic when video circulated of an audience going wild at its climactic sequence.Zendaya and Tom Holland in 'Spider-Man: No Way Home.'Last year the directors of the film, Joe and Anthony Russo, talked about how emotional that clip was, with the latter saying that while the business was changing, seeing movies with large groups "is always going to be unique, in the way watching something at home can't be."Although there have been some successes during the pandemic, there's a growing sense that the movie industry might never fully rebound to where it was in 2019. But something like "Spider-Man" nevertheless represents a reassuring feeling that the hunger for what theaters offer can't be entirely replaced.Back when one of the last major network hits, "The Big Bang Theory," went off the air in 2019, series producer/co-creator Chuck Lorre suggested that those writing obituaries for the sitcom were doing so prematurely."I've been doing this long enough to know I've heard the bold statement that 'This is it. This won't happen again' many times," he told CNN. "And it does. So humility would suggest that making a blanket statement, that this is the end, is probably foolish."Hollywood can't pivot on a dime, but the forecast for movies in theaters has become even more Darwinian, favoring a very select few that meet the criteria to qualify as an event. For every "Spider-Man" or "The Batman" there will be expensive failures, and as a consequence the gap between theatrical winners and those that must rely on home exhibition -- and generally speaking, tighter budgets -- appears destined to grow.At this point, "Spider-Man's" success looks like a welcome spike on a troubling EKG -- a short-term jolt to the movie business and avid theater-goers, not an enduring rescue.But for this weekend, anyway, as millions flock to the movies, it's nice to see that the pipes still work. In that, "Spider-Man" has shot theaters a lifeline, even if their spider sense ought to be tingling about what lies ahead as they swing into the unknown.

Review by Brian Lowry, CNN

2021-11-18 14:19:16

entertainment

celebrities

https://www.cnn.com/2021/11/18/celebrities/king-richard-review/index.html

'King Richard' review: Will Smith occupies center court as Venus and Serena's dad - CNN

Stage parents seldom fare well in movies and TV, but "King Richard" bucks that trend, placing Will Smith on center court in an overwhelmingly flattering portrait of tennis patriarch Richard Williams. Smith aces the performance, which is the main attribute in elevating the story above the standard sports-movie conventions.

celebrities, 'King Richard' review: Will Smith occupies center court as Venus and Serena's dad - CNN

'King Richard' puts Will Smith on center court as Venus and Serena's dad

(CNN)Stage parents seldom fare well in movies and TV, but "King Richard" bucks that trend, placing Will Smith on center court in an overwhelmingly flattering portrait of tennis patriarch Richard Williams. Smith aces the performance, which is the main attribute in elevating the story above the standard sports-movie conventions.The film actually follows a fairly concentrated stretch in the formative years of Venus (Saniyya Sidney) and Serena Williams (Demi Singleton) under the watchful eye and tutelage of their father Richard, who speaks frequently of the 78-page plan he mapped out for conquering the nearly all-White tennis world before they were old enough to hold a racquet."I'm in the champion-raising business," Williams announces as he makes the rounds looking for a coach, met with dismissive and vaguely racist replies, including "You ever think about basketball?"Williams can be imperious (hence the title) and overbearing, much to the occasional chagrin of his daughters and wife (Aunjanue Ellis), who is no wallflower when it comes to the coaching chores or speaking her mind.The portrait that emerges from director Reinaldo Marcus Green and writer Zach Baylin consistently paints him as a heroic figure, protecting his daughters from dangers in the community, stressing their education as well as their ground strokes and working tirelessly to advance their careers, perusing tennis magazines while holding down a job as a night watchman.Read MoreAny excesses, such as having the girls practice in a pouring rain, are filtered through that prism. And obviously, Williams' determination to "stick to the plan" paid off handsomely, despite the irritation and exasperation of tennis coaches (the most prominent played by Tony Goldwyn and Jon Bernthal) riled by his refusal to follow the customary script, including his decision to pull Venus out of juniors tournaments.Demi Singleton as Serena, Will Smith as Richard Williams and Saniyya Sidney as Venus in the Warner Bros. drama 'King Richard.'Smith not only captures the cadence of Williams' voice but the unwavering confidence that he embodied, absolutely convinced that he knew what was best for his girls. It's down the movie's final stretch, as those plans begin to bear fruit, that "King Richard" feels more and more conventional, from the stirring music to the questions of how and when to cash in on Venus' prowess while the younger Serena is left behind, but as we all know, not for long.Smith (who also produced the film) is receiving a vigorous push for awards consideration, and he certainly nails the role in a way that belongs in that conversation, even if the movie as a whole seems unlikely to join him.Perhaps foremost, "King Richard" is framed as a response to the criticism and second-guessing that the outspoken Williams faced as his daughters took the tennis world by storm, which might explain why both signed on as executive producers.Indeed, it's hard to escape the sense that "King Richard" exists in part to let the Williams family set the record straight. And when it comes to giving Williams his due as both a tennis guru and a father, in this case, love means everything."King Richard" premieres Nov. 19 in US theaters and on HBO Max, from Warner Bros., like CNN, a unit of WarnerMedia. It's rated PG-13.

Review by Brian Lowry, CNN

2021-12-07 17:10:24

entertainment

entertainment

https://www.cnn.com/2021/12/07/entertainment/being-the-ricardos-review/index.html

'Being the Ricardos' review: Nicole Kidman and Javier Bardem shine in Aaron Sorkin's beyond-black-and-white look at 'I Love Lucy' - CNN

Presenting a far richer story than a simple biopic, "Being the Ricardos" turns writer-director Aaron Sorkin loose again on the medium of television and produces one of the year's most satisfying movies. That it was made for a streaming service, Amazon, is a wrinkle even the legendarily foresighted Desi Arnaz surely couldn't have imagined.

entertainment, 'Being the Ricardos' review: Nicole Kidman and Javier Bardem shine in Aaron Sorkin's beyond-black-and-white look at 'I Love Lucy' - CNN

'Being the Ricardos' goes beyond the black and white in looking back at 'I Love Lucy'

(CNN)Presenting a far richer story than a simple biopic, "Being the Ricardos" turns writer-director Aaron Sorkin loose again on the medium of television and produces one of the year's most satisfying movies. That it was made for a streaming service, Amazon, is a wrinkle even the legendarily foresighted Desi Arnaz surely couldn't have imagined.In a clever framing device, Sorkin builds the narrative around a "scary week" in the lives of Lucille Ball (Nicole Kidman) and her husband/co-star Arnaz (Javier Bardem), as filtered through the recollections of those who worked on their top-rated sitcom, "I Love Lucy." The film then uses that confined window to revisit the couple's courtship and how they conquered TV through a series of deftly constructed flashbacks.The crises for the duo emerge on two fronts: An anonymous item from radio star Walter Winchell implying that Ball is a communist (there's an explanation, but not one that might satisfy red-baiting critics or nervous network executives); and tabloid photos of Arnaz with another woman, fueling Lucy's suspicions, despite his denials, about the philandering that would eventually break them apart.Those elements really define the film, much more than the casting and absurd sight-unseen second-guessing that it triggered. As for that, Kidman might not particularly resemble Lucy but she utterly captures her creative genius, imperious demeanor in dealing with the writers -- executive producer Jess Oppenheimer (Tony Hale) absorbs the brunt of the abuse -- and her show-first attitude, even if that meant relegating co-star Vivian Vance (Nina Arianda) to frumpy frocks that she hated.When they meet Desi instantly recognizes her talent, calling her "kinetically gifted," skills that would later be put to good use in the show's ample slapstick. As for her cold-blooded demeanor and recognition of the clout the pair wielded at that moment, it's best summed up by a scene when somebody asks her if she's joking.Read MoreNicole Kidman and Javier Bardem play Lucille Ball and Desi Arnaz in 'Being the Ricardos' (Glen Wilson/Amazon Content Services)."I'm Lucille Ball," she responds icily. "When I'm being funny you'll know it."The underlying conceit behind "Being the Ricardos" is that despite their success, Ball and Arnaz's future faced real jeopardy during that week, creating a tension among the staff and cast that brought out the best and worst in everybody. That includes a spectacularly funny supporting turn by J.K. Simmons as co-star William Frawley, who references his vaudeville career and boasts about drinking excessively without actually getting drunk.Counting Lucy and Desi's kids among its producers, "Being the Ricardos" treats both gently but doesn't whitewash the relationship or characters, including the fact that Lucy went into television in order to keep her husband at home and ultimately still couldn't save the marriage."Every decision I make is based on being near you," she insists, during an earlier moment when the prospect of more film work beckons.Throughout his career Sorkin has exhibited a knack for capturing both the artistic process, which is difficult to put on film, and the high-stakes world of television. Although he has more recently gravitated to movies that previously took place primarily on TV in "Sports Night," "Studio 60 on the Sunset Strip" and "The Newsroom."No matter how many times you've watched those classic "I Love Lucy" episodes (or not at all), it's likely you'll come away from "Being the Ricardos" with a greater appreciation for the central couple's talents as well as their personal failings and foibles. In that, Sorkin has delivered a colorful portrait that goes beyond the nostalgia-tinted hues of black and white."Being the Ricardos" premieres in select US theaters on Dec. 10 and Dec. 24 on Amazon. It's rated R.

Analysis by Brian Lowry, CNN

2022-03-09 22:26:49

entertainment

entertainment

https://www.cnn.com/2022/03/09/entertainment/obi-wan-column/index.html

As 'Obi-Wan Kenobi' heads to Disney+, just remember: It's Han Solo's fault - CNN

Obi-Wan Kenobi is coming to streaming, as practically anyone with an internet connection knows by now. But is that the ideal venue for a project based on a beloved original "Star Wars" character? And while he might insist "It's not my fault!," how much of the blame goes to Han Solo?

entertainment, As 'Obi-Wan Kenobi' heads to Disney+, just remember: It's Han Solo's fault - CNN

As 'Obi-Wan Kenobi' heads to Disney+, just remember: It's Han Solo's fault

(CNN)Obi-Wan Kenobi is coming to streaming, as practically anyone with an internet connection knows by now. But is that the ideal venue for a project based on a beloved original "Star Wars" character? And while he might insist "It's not my fault!," how much of the blame goes to Han Solo?These are some of the imponderable questions raised by the funneling of resources to streaming services, with "Obi-Wan Kenobi" -- a limited series in which Ewan McGregor reprises his role from the second trilogy -- due to land on Disney+ in May.Watching the very enticing trailer, it's easy to see this concept as a major movie, and fans flocking to theaters for a story set during that period in which Kenobi quietly watched over a young Luke Skywalker, a decade after "Revenge of the Sith" and before the two meet in "A New Hope."Indeed, the first thought consuming the trailer -- especially when those strains of composer John Williams' "Duel of the Fates" kicked in -- was just how big an opening weekend a movie version would have registered at the box office.Alas, we'll never know, as Disney has prioritized producing must-have content for Disney+, which has outpaced even the most ambitious projections for its growth, reaching nearly 130 million subscribers. At roughly $7 a month, that's a whole lot of credits, and "Star Wars" shows, like "The Mandalorian," are obviously a major part of that.Read MoreStill, Disney is in the theatrical business as well, where hits have become increasingly elusive, a trend that preceded the pandemic but that has been significantly exacerbated by it. Increasingly, there appears to be a very narrow tier of blockbusters -- "Spider-Man: No Way Home" and "The Batman" among the recent examples -- that can overcome the gravitational pull of streaming's tractor beam. For everything else, it's wait until Netflix or one of its competitors offers it.Ewan McGregor as Obi-Wan Kenobi in the upcoming Disney+ series.An Obi-Wan Kenobi movie, starring McGregor, would seem to have the combination of elements to clear that hurdle. Instead, the studio opted to go the Disney+ route after the disappointing box-office performance by "Solo," a 2018 prequel that cast Alden Ehrenreich in the title role.At the time, Collider reported that Disney and Lucasfilm had decided to put all the "Star Wars" spinoff movies "on hold" because of "Solo's" commercial misfire, which prompted headlines like "'Solo' Is Officially the First 'Star Wars' Movie to Flop." That included what was then planned to be an Obi-Wan feature."I just think that we might've put a little bit too much in the marketplace too fast," Disney's then-CEO, Bob Iger, told the New York Times.Saturating the market was likely a factor. Arguably, though, the studio might have overreacted, in the process underestimating the appeal of the Kenobi character and the lure of having McGregor (as opposed to a recast newcomer) reprise the role.While it's fun to speculate and play "What if?," it will be virtually impossible to sort out whether Disney left money on the outer rim by producing a limited series instead of a movie. People sign up and maintain streaming subscriptions for all sorts of content, although it seems fair to surmise that "Star Wars" fans won't cancel Disney+ any time before "Kenobi" finishes its run.The series, incidentally, premieres on May 25, which happens to be the 45th anniversary of the Jedi knight's debut in "Star Wars," back in the day before chapter subheads were involved, when people's at-home alternatives were mostly limited to the three broadcast networks.Would a Kenobi movie, released on that anniversary with the kind of trailer that just broke the internet, bring people out to theaters today? Let's just say that if Disney had stuck to its original plans, even with all that's happened to movie-going, they'd be justified in having a good feeling about this.

Review by Brian Lowry, CNN

2022-03-02 14:41:56

entertainment

entertainment

https://www.cnn.com/2022/03/02/entertainment/the-dropout-review/index.html

'The Dropout' review: Amanda Seyfried stars in Hulu's eye-opening take on Elizabeth Holmes and Theranos - CNN

Elizabeth Holmes has been a source of fascination for many since glimpsing the husky-voiced, wide-eyed persona she affected in Alex Gibney's documentary "The Inventor: Out for Blood in Silicon Valley." Amanda Seyfried nails all of that in "The Dropout," a slick Hulu docuseries devoted to Holmes' rise and Shakespearean fall, as well as the gender dynamics at play throughout.

entertainment, 'The Dropout' review: Amanda Seyfried stars in Hulu's eye-opening take on Elizabeth Holmes and Theranos - CNN

'The Dropout' offers an eye-opening view of Elizabeth Holmes and Theranos

(CNN)Elizabeth Holmes has been a source of fascination for many since glimpsing the husky-voiced, wide-eyed persona she affected in Alex Gibney's documentary "The Inventor: Out for Blood in Silicon Valley." Amanda Seyfried nails all of that in "The Dropout," a slick Hulu docuseries devoted to Holmes' rise and Shakespearean fall, as well as the gender dynamics at play throughout.Boasting an inordinately good cast in even relatively minor roles, the series adopts an unexpectedly sympathetic posture toward Holmes, at least in the early going, as she seized on the idea of improving the blood-testing process before dropping out of Stanford to pursue her vision.Part of that ambition, it's surmised, stemmed from watching her father's struggles thanks to working at Enron, although she clearly derived the wrong anything-to-win lesson from that experience.Completely driven and a relentless saleswoman, Holmes faces all kinds of subtle and not-so-subtle misogyny, such as when she's told not to look too good if she wants potential financiers to take her seriously.At the same time, some (including in media) were clearly beguiled by the idea of a young female CEO in this male-dominated, tech-driven environment, never mind the fact that the product she's peddling won't do what she keeps telling people that it will -- a good idea that she couldn't make work.Read MoreAs Stanford professor Phyllis Gardner (Laurie Metcalf) concludes bluntly, "She's a fraud." Alas, that assessment didn't prevent plenty of high-powered individuals, including former Secretary of State George Shultz (Sam Waterston), from being charmed by her pitch, seeing her as "a symbol of feminist progress.""The Dropout" is populated by a gaudy assortment of big-name actors, including Metcalf, Waterston, William H. Macy, Stephen Fry, Kurtwood Smith, Bill Irwin, and Anne Archer.Still, Seyfried steals the show, from the youthful version of Holmes to the one who worked at everything related to her carefully crafted image -- from choosing her black turtleneck look to the tenor of her voice, rehearsing the delivery in the mirror.There's also something stiff and artificial about her personal interactions, a point she makes overtly to her lover and partner Sunny Balwani ("Lost's" Naveen Andrews), telling him, "I don't feel things the way other people feel things," while insisting she cares about him nonetheless.Framed by Holmes giving a deposition, the series chronicles how she misrepresented revenues and testing failures, while wooing politicians, dignitaries and investors.There are also tantalizing subplots in Theranos' fate, from the young whistleblowers -- Tyler Shultz (Dylan Minnette), Shultz's grandson, and Erika Cheung (Camryn Mi-young Kim) -- who came forward to expose Theranos's misdeeds to the Wall Street Journal reporter (Ebon Moss-Bachrach) who helped break the story, even as the paper's owner, Rupert Murdoch, was among those investing in the company."The Dropout" is just the latest look at the cutthroat world of such start-ups, coming close on the heels of "Super Pumped: The Battle for Uber," which shares some of the same tragic excesses.Even with a high bar for such fare, thanks largely to Seyfried, "The Dropout" gets under your skin, passing the "Should I watch?" test with flying colors."The Dropout" premieres March 3 on Hulu.

Review by Brian Lowry, CNN

2022-02-11 20:40:18

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entertainment

https://www.cnn.com/2022/02/11/entertainment/bel-air-review/index.html

'Bel-Air' review: 'The Fresh Prince' goes down a dark path in a Peacock drama that's better than it has any right to be - CNN

Nobody asked for a dark, dramatic reimagining of "The Fresh Prince of Bel-Air," which makes the new series fitting that description, "Bel-Air," better than it has any right to be. Premiering Super Bowl Sunday on NBC's streaming service Peacock, the opening episodes establish a catchy beat, with the main question being how long they can sustain it.

entertainment, 'Bel-Air' review: 'The Fresh Prince' goes down a dark path in a Peacock drama that's better than it has any right to be - CNN

'Bel-Air' takes 'The Fresh Prince' down a dark path that's better than it has any right to be

(CNN)Nobody asked for a dark, dramatic reimagining of "The Fresh Prince of Bel-Air," which makes the new series fitting that description, "Bel-Air," better than it has any right to be. Premiering Super Bowl Sunday on NBC's streaming service Peacock, the opening episodes establish a catchy beat, with the main question being how long they can sustain it.Inspired by a 2019 fan-made trailer that went viral (and whose creator, Morgan Cooper, is a director, producer and co-writer here), the series could easily have become a classic case of taking a three-minute gag too far. Yet the creative team under showrunners T.J. Brady and Rasheed Newson blows up the opening credits of the original sitcom -- which explained how the character came to live with his wealthy relatives -- in a very clever way.Will Smith (Jabari Banks) has a bright future, with a looming basketball scholarship that will take him out of Philadelphia and put him on a path to bigger and better things. But an encounter with a gang member goes wrong, and his hubris leads him to try settling matters on the playground, a plan that backfires in a dangerous manner.Understandably concerned, Will's mom (April Parker Jones) ships him off to Los Angeles and relatives he barely knows, as evidenced by his stunned expression when he first catches sight of their gated mansion. "You did not tell me that your family was White," the driver (Jordan L. Jones) says.Still, fitting in isn't sitcom-easy in this telling, with Will's arrival provoking jealousy from his cousin Carlton (Olly Sholotan), who's hiding his own secret, and tensions involving his Aunt Vivian (Cassandra Freeman) and Uncle Philip (Adrian Holmes) -- the latter in the midst of a race to become District Attorney, but facing questions about street cred due to his zip code.Read MoreAs constructed, there's a strain of "Gossip Girl" running through "Bel-Air's" DNA, given the power dynamics at the posh private school the kids attend. The show also explores racial politics, with Will responding angrily when one of Carlton's White friends sings provocative rap lyrics, an objection that Carlton dismisses.Already the recipient of a two-season order, no one can accuse the new series of moving too slowly; rather, the writers race through soap-opera-ish plot developments in the first three episodes, provoking skepticism about whether the producers have frontloaded the action a little too much.That, too, underscores the difference between "The Fresh Prince" -- introduced on a broadcast network more than 30 years ago, and celebrated in a 2020 reunion special -- and "Bel-Air," situated on a streaming service where the game is to burn brightly and garner attention.Promoting the show during the Super Bowl might not be the ideal juxtaposition for a dark drama, but in terms of percentages, if the series can hook a tiny fraction of those viewers the bet will pay off for Peacock.While it's possible to second-guess that strategy, in terms of delivering a show improbably worthy of such pricey TV real estate, "Bel-Air" has held up its end of the bargain."Bel-Air" premieres Feb. 13 on Peacock.

Review by Brian Lowry, CNN

2022-02-27 16:05:44

entertainment

entertainment

https://www.cnn.com/2022/02/27/entertainment/super-pumped-the-battle-for-uber-review/index.html

'Super Pumped: The Battle for Uber' review: Joseph Gordon-Levitt and Kyle Chandler star in Showtime's latest tech titan takedown - CNN

A cross between "The Social Network" and "Billions," "Super Pumped: The Battle For Uber" hails from the producers of the latter, drawing extra zest from all the tech CEOs represented in this fun, fact-based tale of greed, high-stakes corporate chess and frat-boy excess. With Joseph Gordon-Levitt and Kyle Chandler anchoring the cast, it's well worth hopping aboard.

entertainment, 'Super Pumped: The Battle for Uber' review: Joseph Gordon-Levitt and Kyle Chandler star in Showtime's latest tech titan takedown - CNN

'Super Pumped: The Battle for Uber' takes another ride through the world of tech titans

(CNN)A cross between "The Social Network" and "Billions," "Super Pumped: The Battle For Uber" hails from the producers of the latter, drawing extra zest from all the tech CEOs represented in this fun, fact-based tale of greed, high-stakes corporate chess and frat-boy excess. With Joseph Gordon-Levitt and Kyle Chandler anchoring the cast, it's well worth hopping aboard.Gordon-Levitt is all kinetic energy and relentless salesmanship as Travis Kalanick, the Uber chief who bills himself as "a disrupter" and has a casual relationship with the truth, so much so that his stories frequently cut from the version he's telling to more accurate depictions of what actually happened.Early in this Showtime limited series, Kalanick pitches venture capitalist Bill Gurley (Chandler) to invest in the fledgling company, insisting the sky's the limit on Uber's potential, and that in terms of its "stickiness," "If someone rides twice, we have them for life."Still, that's not all that's sticky about this sort of enterprise, from Kalanick's determination to crush his competitors to recruiting the kind of hard-charging executives who make for human-resources nightmares, a toll exacted on the company's few female employees. It's an environment where the question "Is this legal?" is met by sly grins and laughter all around.Based on Mike Isaac's bestselling book, Kalanick is depicted as being equally ruthless and self-absorbed in his personal interactions. He also finds an unlikely ally in the media-savvy Ariana Huffington (Uma Thurman, nailing the accent), who helps him navigate the murky waters dealing with the likes of Google and Apple. That includes a meeting with the latter's Tim Cook (Hank Azaria), who is put off by Kalanick's "rapacious need to win."Read MoreAt times "Super Pumped" feels a bit too cute for its own good, with shifting points of view and characters breaking the fourth wall to directly address the audience. Yet it's still a sharply written examination of the buccaneering mentality that birthed many of these once-scrappy startups, with the lure of billions motivating (and helping provide rationalizations for) all sorts of bad behavior."Super Pumped" doesn't break much new ground; in fact, the basic template parallels not only the aforementioned projects but two soon-to-debut shows: Hulu's "The Dropout," another story of an anything-to-win young CEO, Elizabeth Holmes, playing in the land of billionaires; and Apple TV+'s "WeCrashed," spun out of the podcast "WeCrashed: The Rise and Fall of WeWork."Nevertheless, it's an intriguing snapshot of one particularly flashy example of the move-fast, break-stuff mentality, while providing its principals, Gordon-Levitt and Chandler, plenty of opportunity to shine.Showtime, moreover, has already ordered a second season devoted to the founding of Facebook -- which is also the subject of a limited series being developed at rival HBO -- making that aforementioned "Social Network" comparison even more apt, sustaining the franchise in theory by dissecting a different case study each season.Kalanick, at one point, is described as "a predatory animal," and as depicted, it's hard to argue otherwise. "Super Pumped" effectively illustrates that while such personalities might not be great to live with (or even share a ride with), as movies or limited series go, they can be pretty fascinating to watch."Super Pumped: The Battle for Uber" premieres Feb. 27 at 10 p.m. ET on Showtime.

Review by Brian Lowry, CNN

2022-03-09 14:51:59

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entertainment

https://www.cnn.com/2022/03/09/entertainment/andy-warhol-diaries-review/index.html

'The Andy Warhol Diaries' review: Netflix's Ryan Murphy-produced docuseries gives the artist another 395 minutes of fame - CNN

Andy Warhol was such a distinctive figure -- cutting across the worlds of art, media and pop culture -- that a docuseries about his life could hardly be boring, and "The Andy Warhol Diaries" isn't. But this six-part Netflix production does unfold at a languid, almost-hypnotic pace, while employing AI technology to create Warhol's voice reading his words from the great beyond, which is as oddly creepy as that sounds.

entertainment, 'The Andy Warhol Diaries' review: Netflix's Ryan Murphy-produced docuseries gives the artist another 395 minutes of fame - CNN

'The Andy Warhol Diaries' docuseries gives the artist another 395 minutes of fame

(CNN)Andy Warhol was such a distinctive figure -- cutting across the worlds of art, media and pop culture -- that a docuseries about his life could hardly be boring, and "The Andy Warhol Diaries" isn't. But this six-part Netflix production does unfold at a languid, almost-hypnotic pace, while employing AI technology to create Warhol's voice reading his words from the great beyond, which is as oddly creepy as that sounds.Warhol would probably embrace the idea of extending his way-more-than-15 minutes of fame, and the project -- directed by Andrew Rossi, and produced by the prolific Ryan Murphy -- certainly does that. In fact, while the "Everyone will be world-famous for 15 minutes" quote might have been misattributed to the artist, with most episodes running more than an hour, "Diaries" adds 395 minutes to Warhol's tally, for whatever that's worth.Rossi uses the posthumously published diaries as the program's narrative spine, while darting about in a manner that represents the chaotic times during which Warhol lived, the lives he touched, and the various contradictions associated with him.Straddling cultural spheres, Warhol could popularize Campbell's soup cans or befriend and champion talents like Jean-Michel Basquiat (the subject of an entire episode); turn out cutting-edge movies, as well as pioneering videos for a then-nascent MTV; and still incongruously appear as a guest in mainstream vehicles like "Love Boat" and "Saturday Night Live."Few personalities have possessed such range, and the breadth of Warhol's reach and influence is only rivaled by the name-dropping in the diaries -- including those who lined up for his celebrity portraits -- a list as impressive as it is exhausting.Read MoreAt the same time, Warhol continuously played coy about his own sexuality, sidestepping those questions. Toward that end, Rossi spends a considerable amount of time focusing on Warhol's relationships -- first with Jed Johnson, and later film executive Jon Gould.In those moments and others, the artist doesn't always serve as the most reliable of narrators, and the third-party voices enlisted to discuss him -- ranging from close associates to biographers -- often shed more light on who Warhol really was than the diary entries do.The disembodied voice that reads from the diaries proves distracting at first, eventually settling into a kind of soothing rhythm with its detached, mechanical delivery. Increasingly popular, the approach has matured but still feels like a gimmick, and hiring an actor for those purposes surely would have been just as effective. (CNN's recent Anthony Bourdain documentary, "Roadrunner," employed a similar device, triggering a debate about the practice.)"The Andy Warhol Diaries" provides ample detail about the artist's life, beginning with his humble origins in Pittsburgh, creating his trademark image and encompassing events like his shooting in 1968 and subsequent fear of hospitals, which played a role in his death in 1987.Yet for all that the series meticulously reveals, it only goes so far in penetrating Warhol's protective shell, and like its subject, alternates between being fascinating and frustrating.Warhol was an extraordinarily public figure who endeavored to maintain a private curtain. The artificial voice revives his words and thoughts, but there are still aspects of the person who dictated them that can only be guessed at -- a colorful riddle that even an effort this comprehensive can't entirely decode."The Andy Warhol Diaries" premieres March 9 on Netflix.

Review by Brian Lowry, CNN

2022-02-18 13:38:06

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entertainment

https://www.cnn.com/2022/02/18/entertainment/marvelous-mrs-maisel-review/index.html

'The Marvelous Mrs. Maisel' season 4 review - CNN

Season 4 of the Amazon series picks up with the stand-up comic, two years after a strong Season 3. Mrs. Maisel is back on the road and in the spotlight.

entertainment, 'The Marvelous Mrs. Maisel' season 4 review - CNN

'The Marvelous Mrs. Maisel's' act is starting to look stale as it nears the exit

(CNN)Dear Mrs. Maisel:Maybe it's the long layoff, or maybe it's partly because your act already felt like it was growing a little stale, but the new season of "The Marvelous Mrs. Maisel?" Not your best stuff, at least based on the first few episodes. In fact, it just feels like you're hitting the same one-liners all over again.Granted, this might be a minority opinion, given all the major Emmys that you collected in 2018, before "Fleabag" and that guy Ted Lasso came along. But season four -- picking up after the left-behind-on-the-tarmac moment that closed the stronger third season more than two years ago -- feels like too much of a reset, putting you back in that hungry-for-stage-time mode from which you appeared to have graduated.That's not to say the cast (starting with Rachel Brosnahan as, well, you) isn't terrific, or that there aren't some funny lines. It's also notable that your ex Joel (Michael Zegen) has actually blossomed into a fairly appealing character, something that certainly wasn't obvious when the series premiered in 2017.Understandably, the setback to your career creates a lot of headaches for your manager, Susie (Alex Borstein), who faces pressure to get you back on a stage.Read More"You know what's great about me? When I'm me," you tell her, referencing that thing when you throw out the playbook and just randomly start riffing out stream-of-consciousness standup routines, which of course are actually meticulously written and rehearsed.There are also amusing moments involving the extended family, although even that has begun to yield diminishing returns. For example, there's that scene where everyone is yelling at each other on the Wonder Wheel in Coney Island, which starts out well and then just seems to go on and on.As a completist, it will be nice to see how and where "Mrs. Maisel" reaches the end of her journey, which has held up a mirror about the misogyny that a female comic faced then and by extension lingering issues that exist to this day. Fortunately, Amazon announced on the eve of this premiere that the coming season will be the fifth and final one, offering the prospect of closure in the not-too-distant future.The show helped put Amazon Prime on the programming map, so kudos on that to writer-producer Amy Sherman-Palladino.Still, you know that little red light in the back of the house that tells comedians when their set is almost over? It's actually nice to see that even the producers realized it had come on, an indicator that it's time to start wrapping things up."The Marvelous Mrs. Maisel" premieres its fourth season Feb. 18 on Amazon.

Review by Brian Lowry, CNN

2022-01-20 15:11:04

entertainment

entertainment

https://www.cnn.com/2022/01/20/entertainment/the-gilded-age-review/index.html

'The Gilded Age' review: Julian Fellowes' sprawling new drama shines as an American version of 'Downton Abbey' - CNN

The parallels between "The Gilded Age" and Julian Fellowes' earlier creation "Downton Abbey" aren't hard to spot, which doesn't make this HBO drama any less delicious. Set in the moneyed corridors of New York during the 1880s, Fellowes and his sprawling cast have delivered another sharp look at wealth and class in earlier times, when even those with the gold chafed against the intricate rules.

entertainment, 'The Gilded Age' review: Julian Fellowes' sprawling new drama shines as an American version of 'Downton Abbey' - CNN

'The Gilded Age' shines as an American plot of 'Downton Abbey'-adjacent real estate

(CNN)The parallels between "The Gilded Age" and Julian Fellowes' earlier creation "Downton Abbey" aren't hard to spot, which doesn't make this HBO drama any less delicious. Set in the moneyed corridors of New York during the 1880s, Fellowes and his sprawling cast have delivered another sharp look at wealth and class in earlier times, when even those with the gold chafed against the intricate rules.The backdrop here lies not in British aristocracy but rather the hostility of old-money families toward what they dismissively refer to as "the new people," those who have recently come into fortunes but lack the arrived-on-the-Mayflower claims to elite status.That intra-class warfare and the ostentatious displays of wealth associated with it are viewed in part through the wide eyes of a new arrival, Marian Brook (Louisa Jacobson, the youngest of Meryl Streep's talented acting daughters), who, after the death of her father, travels from rural Pennsylvania to reside with her two aunts, the imperious Agnes van Rhijn (Christine Baranski) and mousier Ada Brook (Cynthia Nixon).Agnes married well, allowing her sister, as she notes, "the pure and tranquil life of a spinster." Like the Dowager Countess in "Downton," Fellowes graces her with all the best lines, which Baranski delivers with dripping venom, her fangs barely concealed. To her constant irritation, the "new" people to whom she objects reside directly across the street, in the form of railroad baron George Russell (Morgan Spector) and his wife Bertha (Carrie Coon), who employ a Downton-like array of servants. When not maintaining the mansion, the downstairs folk gossip about the Russells' prospects of being accepted into high society, which is Bertha's relentless goal.Read More"She's built a palace to entertain the sort of people who will never come here," sneers Bertha's maid (Kelley Curran), while plotting as to how she can escape such service.Cynthia Nixon, Christine Baranski (foreground) play sisters in 'The Gilded Age.'This American version also brings race into the mix, with Marian's trip introducing her to Peggy Scott (Denée Benton), an aspiring Black writer who takes a position in Agnes's employ. Marian's desire to become Peggy's friend betrays both her naivete and the overt racism of the times, though with marginal depth, a perhaps inevitable function of everything else that's unfolding upstairs and downstairs.Fellowes remains an absolute master at juggling a dizzying number of subplots as well as finding intriguing wrinkles in characters with relatively small roles, such as Blake Ritson as Agnes's scheming son. There's a particular embarrassment of riches on the actress side, with Audra McDonald, Jeanne Tripplehorn and Donna Murphy to help class up the already-classy joint.The early episodes (five of the nine were previewed) also impressively chew through story, indicating that while the dresses might look stiff and confining, the pacing isn't.The casting is as impeccable as the period costumes, with Jacobson as the marginally modern newcomer caught in the middle of these old grudges, and Coon and Spector excelling as the ultimate power couple, playing a long game in leveraging their wealth to break down the barriers erected by the entrenched establishment.One of the tensions involves the question of Marian marrying for something other than financial advantage, a prospect greeting with horror by her pragmatic aunt. "Will you concede nothing to my age and experience?" Agnes asks her.Although real-life figures from the period pass through the story, "The Gilded Age" quickly carves out a dense reality all its own. And while several characters have obvious "Downton" counterparts (including life in the closet for gays during this era), the Yankee flavor distinguishes the series enough to stand apart from it.It's early to pronounce this fully as another "Downton"-like addiction, with one movie and another on the way. Yet Fellowes has laid out the foundation for a period soap with that lofty potential, in what is already a very enticing piece of "Abbey"-adjacent real estate."The Gilded Age" premieres Jan. 24 at 9 p.m. ET on HBO, which, like CNN, is a unit of WarnerMedia.

Review by Brian Lowry, CNN

2022-03-02 23:13:03

entertainment

entertainment

https://www.cnn.com/2022/03/02/entertainment/joe-vs-carole-review/index.html

'Joe vs Carole' review: Kate McKinnon stars in a Peacock miniseries that arrives after 'Tiger King' has used up most of its lives - CNN

It's never ideal to arrive way too late to the party, and "Joe vs Carole" feels guilty of that, adapting the story of Netflix's "Tiger King," a.k.a. Joe Exotic, into a limited series that dutifully replicates those events without much bite.

entertainment, 'Joe vs Carole' review: Kate McKinnon stars in a Peacock miniseries that arrives after 'Tiger King' has used up most of its lives - CNN

'Joe vs Carole' arrives after 'Tiger King' has used up most of its lives

(CNN)It's never ideal to arrive way too late to the party, and "Joe vs Carole" feels guilty of that, adapting the story of Netflix's "Tiger King," a.k.a. Joe Exotic, into a limited series that dutifully replicates those events without much bite. The attention might still be welcome for streaming service Peacock, but after a poorly received docu-sequel, this cat appears to have exhausted most of its lives.The main selling point here, frankly, might be Kate McKinnon as Carole Baskin, the object of hostility that prompted Joe ("Hedwig and the Angry Inch's" John Cameron Mitchell, blessed with a role where it's impossible to overact) to try hiring a hitman to kill her, leading to his eventual conviction.Yet even the versatile "Saturday Night Live" star, somewhat miscast, can only do so much with this material. Thanks to the too-expansive eight-episode format, the producers have time to indulge in bizarre flights of fantasy in addition to filling in details of both Joe and Carole's backstories, those of supporting players and the events that made them all famous or notorious, take your pick."He is a psychopath who wishes me dead," Carole notes near the outset, before one of many flashbacks explaining how things reached that acrimonious stage.Basically, the whole "Tiger King" saga turns out to be almost impossible to parody, which might explain in part why a much-ballyhooed project that was to have starred Nicolas Cage ultimately fizzled. Cage said at the time that the conclusion was the story had lost its relevance, which seems even truer now than it was then.Read MoreJohn Cameron Mitchell as 'Joe Exotic' in Peacock's 'Joe vs. Carole' (Mark Taylor/Peacock).The bottom line is that you never really want to try telling a story like this after one of the principals has already hit the "Dancing With the Stars" stage of its life cycle.That's not to say that some illuminating moments don't emerge, such as Joe dealing with homophobia in his past, before announcing when he buys the land that became his big-cat park, "No one's gonna make me feel small again."As for Carole, the glimpses of her tumultuous first marriage humanize her a bit, while allowing the character to address her husband's disappearance by saying, "I don't miss him, but I didn't kill him." Meanwhile, she continues to provoke the easily riled Joe, despite advice from her husband Howard (Kyle MacLachlan) that engaging with him and his ilk amounts to "swatting at flies."Adapted from a Wondery podcast, "Joe vs Carole" might actually provide its most memorable flourish in sequences that viewers won't see, since the unfinished episodes made available for review feature dogs as stand-ins for the big cats, with a note that the lions and tigers will be added using computer-generated imagery.The dogs turn out to be very good boys and girls, patiently creating safe substitutes for the actors to play against. As for "Joe vs Carole" and the rest of those cool cats and kittens, while a limited series might have sounded like a swell idea back when the docuseries leapt into the zeitgeist, in March 2022, the timing is less than purr-fect."Joe vs Carole" premieres March 3 on Peacock.

Review by Brian Lowry, CNN

2022-01-27 16:46:19

entertainment

entertainment

https://www.cnn.com/2022/01/27/entertainment/pam-and-tommy-review/index.html

'Pam & Tommy' review: Lily James and Sebastian Stan become Pam Anderson and Tommy Lee in Hulu's limited series - CNN

Once you get past the astonishing makeup and prosthetics, "Pam & Tommy" essentially functions as two miniseries in one, the first devoted to the central couple, and the latter to the hapless guy who turned them into a pioneering Internet sensation. The former works better, in a limited series that sprinkles social insight (if not quite enough) in with its salacious qualities and breezy nostalgia.

entertainment, 'Pam & Tommy' review: Lily James and Sebastian Stan become Pam Anderson and Tommy Lee in Hulu's limited series - CNN

'Pam & Tommy' blends nostalgia with amazing makeup to create a two-in-one miniseries

(CNN)Once you get past the astonishing makeup and prosthetics, "Pam & Tommy" essentially functions as two miniseries in one, the first devoted to the central couple, and the latter to the hapless guy who turned them into a pioneering Internet sensation. The former works better, in a limited series that sprinkles social insight (if not quite enough) in with its salacious qualities and breezy nostalgia.To get the obvious out of the way, Lily James (especially) and Sebastian Stan disappear into the roles of Pamela Anderson and Tommy Lee, whose whirlwind romance, week-later marriage and tumultuous relationship were in essence defined by the leak of a sexually explicit tape the pair had shot of themselves.The couple was media catnip then and should be again, especially with attention-grabbing flourishes like a naked Tommy engaging in a conversation with the most famous part of himself — assisted by special effects — when he decides to give up the bachelor life and marry Pam.That fantastical sequence captures the project's whimsical and slightly uneven tone ("I, Tonya's" Craig Gillespie directed the first three episodes), with the story set in motion by Rogen's Rand Gauthier, a cash-strapped carpenter doing work on Lee's palatial house.When Lee fires him and stiffs him on payment, Gauthier decides to seek compensation and a measure of revenge by pilfering items from the property. Among them he finds the videotape, capitalizing upon his convenient ties to the porn industry through an unsavory producer (Nick Offerman) to try to wring every last buck out of its exposure. (In a particularly amusing moment, Gauthier rails against a guy selling bootleg copies in the Tower Records parking lot, as if there's no honor among literal thieves.)Read MoreFor Tommy, it's not that big a deal, and he emerges here as both a jerk and caricature of a crazed rock star -- brandishing guns, wearing tiny bikini underwear and indulging every whim without much impulse control. That includes following Pam to Cancun, uninvited, a day after meeting her.One challenge, in fact, is that Pam represents the only sympathetic character, yearning to be more than just a human-sized Barbie doll, citing Jane Fonda as a role model. The series' most pointed observations involve the casual misogyny directed at her, from the "Baywatch" producers excising her monologue — preferring that she simply run silently along the beach — to her awkward appearance on Jay Leno's "The Tonight Show."She's the true victim of this invasion of privacy, in a way symbolic of the casual misogyny in the '90s that Tommy can't even begin to comprehend.And yet, after telling her friends that she's "done with bad boys" (despite the one shown in a flashback to her past), she instantly falls for him, with all the baggage that entails. A lot of things here might be fake, but James' performance feels real, in a manner that helps ground the whole exercise.The series also has its fun revisiting the evolution of porn, when tapes were all the rage and the notion of dialing it up on a box-shaped computer provokes quizzical stares. When a shady financial backer (played by Andrew Dice Clay) tells Gauthier and his partner, "Nobody is ever getting rich off a celebrity sex tape," at that point there's little evidence to prove him wrong.Based on a 2014 Rolling Stone article, "Pam & Tommy" can't escape the sense that it's stretching to get through eight chapters, giving Gauthier's arc and the caper aspect more weight than they can readily carry.On balance, though, the series is still well worth watching, and not just for the parts designed to get all the attention -- namely, the ones that would warrant delivering it in a plain brown wrapper."Pam & Tommy" premieres Feb. 2 on Hulu.

Review by Brian Lowry, CNN

2022-01-21 15:00:39

entertainment

entertainment

https://www.cnn.com/2022/01/21/entertainment/as-we-see-it-review/index.html

'As We See It' review: Producer Jason Katims delivers Amazon's touching coming-of-age look at life on the spectrum - CNN

Best known for "Friday Night Lights," producer Jason Katims has crafted another small coming-of-age gem with "As We See It," adapting an Israeli series about a trio of 20-somethings on the autism spectrum, trying to find purpose and independence.

entertainment, 'As We See It' review: Producer Jason Katims delivers Amazon's touching coming-of-age look at life on the spectrum - CNN

'As We See It' delivers a touching coming-of-age look at life on the spectrum

(CNN)Best known for "Friday Night Lights," producer Jason Katims has crafted another small coming-of-age gem with "As We See It," adapting an Israeli series about a trio of 20-somethings on the autism spectrum, trying to find purpose and independence. Heartbreaking and touching in its central characters' vulnerability, this Amazon series deserves to be seen and celebrated.Featuring actors who are indeed on the spectrum, the show focuses on three young adults sharing an apartment, overseen by an aide, Mandy (Sosie Bacon), who deeply cares about them, while wrestling with a decision about whether to move on in pursuit of another opportunity.For the main characters, things taken for granted represent major challenges, whether that's holding down a job -- and curbing the impulse to tell your boss that you're smarter than he is, as Jack (Rick Glassman) does in the premiere episode -- or simply walking to the corner, for Harrison (Albert Rutecki) a process made terrifying by loud noises like revving motorcycles or barking dogs.Violet (Sue Ann Pien), meanwhile, is working at Arby's, where the absence of the usual filters prompts her to ask out a guy who is just ordering a sandwich."I'm 25, I want a boyfriend," she explains later. "It's normal to have a boyfriend, I want to be normal."Read MoreBut "normal" doesn't come naturally, and there's the constant worry that others will take advantage of what open books these characters are. That's a concern for Violet's brother, Van ("Crazy Rich Asians'" Chris Pang), who is responsible for her with their parents gone, and Jack's dad (Joe Mantegna), whose cancer diagnosis heightens his apprehensions about not being around to look after him. "I need to know you're going to be OK," he tells his son."As We See It" possesses the bittersweet tone of an indie movie, unfolding in eight half-hour chapters. The performances are understated and natural, and the situations occasionally uncomfortable, with Violet learning the hard way that her work "friends" aren't necessarily people upon whom she can rely.The balancing act for this sort of concept hinges on making these characters seem real without condescending to them, a line that Katims and company walk with considerable sensitivity. It's worth noting that the show also follows others that have explored autism, including Netflix's "Atypical" (a soapier construct) and its reality-dating acquisition from Down Under "Love on the Spectrum."Like the latter show, this fictional version makes dating a central point of conflict, a process made considerably more difficult for people prone to say exactly what they think, and who can start contemplating wedding invitations at the first sign of potential romantic interest."I'm very bad at reading signs," Jack confesses.That he is. But when it comes to portraying characters who, as the title suggests, see the world a little differently, "As We See It" is very good in all the ways that matter."As We See It" premieres Jan. 21 on Amazon.

Review by Brian Lowry, CNN

2022-01-06 14:20:20

entertainment

entertainment

https://www.cnn.com/2022/01/06/entertainment/women-of-the-movement-review/index.html

'Women of the Movement' review legacy: An ABC miniseries revisits Emmett Till's murder and its civil-rights legacy - CNN

A look back that reverberates into the present, "Women of the Movement" chronicles the murder of Emmett Till, and his mother's turn to activism in the wake of that horror. Transformed into an ABC limited series, the project carries the throwback feel of miniseries the way broadcasters used to make them, dealing with important topics and painful chapters in history.

entertainment, 'Women of the Movement' review legacy: An ABC miniseries revisits Emmett Till's murder and its civil-rights legacy - CNN

'Women of the Movement' revisits Emmett Till's murder and its civil-rights legacy

(CNN)A look back that reverberates into the present, "Women of the Movement" chronicles the murder of Emmett Till, and his mother's turn to activism in the wake of that horror. Transformed into an ABC limited series, the project carries the throwback feel of miniseries the way broadcasters used to make them, dealing with important topics and painful chapters in history.The structure proves somewhat ungainly, with the focus on Mamie Till-Mobley (Adrienne Warren, a Tony winner for "Tina: The Tina Turner Musical") fading in and out, though the project rallies down the stretch, which includes a devastating reenactment of the crime.Mamie is introduced giving birth to Emmett (played by Cedric Joe, fresh off the "Space Jam" reboot), a difficult experience that leaves her understandably protective of her son.When it's suggested that the 14-year-old Emmett leave Chicago to visit Mississippi in 1955, staying with his great-uncle Mose Wright (Glynn Turman, terrific as always), she warns him about the culture in the Jim Crow South, reminding him, as he repeats, to "keep my eyes down" around White people.Hanging out with some other boys, Emmett is essentially dared into going into a grocery store, where he smiles at the White woman behind the counter (Julia McDermott). When someone whistles as she leaves it sets off a flurry of racist hysteria, leading to her husband (Carter Jenkins) and brother-in-law (Chris Coy) abducting Emmett, who is later found dead.Read MoreThe fact that viewers don't immediately see what transpired doesn't make those events, or Mamie's grief, any less devastating. Yet "Women of the Movement" -- assembled from a pair of books, including Till-Mobley's memoir -- doesn't really hit its stride until the mother begins pursuing justice for her son, enlisting reporters and working with the NAACP."No one will believe it, what they did," she says staring at her son's body, later insisting on an open casket at his funeral, saying, "I want them to see what was taken from me."Justice, however, is an elusive commodity, even with a prosecutor (Gil Bellows) willing to pursue the case, going up against a lawyer (Timothy Hutton) eager to tap into the community's bigotry.The final chapters (the six parts will air in three weekly installments) become a bit too much of a conventional courtroom drama, down to the balmy ambiance, before Till-Mobley pivots to dealing with the aftermath of the trial and finding her voice as a civil-rights leader.The title actually signals this story as the first in what's intended to be an anthology devoted to different women who played key roles in the movement. In addition, ABC will supplement the drama with a docuseries, "Let the World See," devoted to Till-Mobley's activism.Given that the pursuit of justice for Till has continued for more than 75 years, "Women of the Movement" is hardly just a dry recitation of some distant past. It's an admirable start to a project imbued with a level of ambition and relevance that, in the modern era, broadcasters too rarely exhibit."Women of the Movement" premieres Jan. 6 at 8 p.m. ET on ABC.

Brian Lowry, CNN

2022-01-14 21:10:04

entertainment

entertainment

https://www.cnn.com/2022/01/14/entertainment/only-murders-in-the-building-hacks-older-actors/index.html

'Only Murders' and 'Hacks': How TV is celebrating its senior moment - CNN

In shows like "Yellowstone," "Kominsky Method," "Young Sheldon" and "B-Positive," older actors are having a moment worth celebrating.

entertainment, 'Only Murders' and 'Hacks': How TV is celebrating its senior moment - CNN

Thanks to streaming, TV is celebrating its senior moment more than ever

TV OT is a weekly look at what CNN's entertainment team is watching since too much television has us all working overtime. (CNN)The Screen Actors Guild nominations were all over the place, but on the television side, they did reveal one significant trend: The recent boon for older actors, driven heavily by, but not limited to, streaming.The nominations saw Martin Short and Steve Martin recognized for Hulu's "Only Murders in the Building," Michael Douglas in the comedy running for Netflix's "The Kominsky Method," and Jean Smart a triple nominee, individually for HBO Max's "Hacks" and HBO's "Mare of Easttown," and collectively with the cast for the former."Yellowstone," a show anchored by Kevin Costner's steely presence, also broke through, as did Brian Cox as another powerful patriarch in "Succession" and Michael Keaton for "Dopesick," the fact-based limited series about the opioid epidemic.It's no secret that Hollywood has faced accusations of ageism, seeking younger audiences at the expense of older players both in front of and behind the camera. Yet the priorities and business model of streaming, and the abundance of content that it has created, appears to be tinkering with that math.Unlike ad-supported networks that have prioritized reaching more youthful demographics, streaming relies on subscriptions, and features high-profile talent in part as a means to generate the kind of attention that will inspire people to ante up. While advertisers pay a premium to reach adults under 50, their parents and grandparents' money is just as green when handed over directly.Read MoreWhile perhaps most prevalent in streaming, this trend isn't unique to it. Chuck Lorre, the producer of hit comedies like "The Big Bang Theory," its prequel "Young Sheldon" and the aforementioned "Kominsky Method," has stocked his shows with older regulars.Hector Elizondo is among the new cast members on this season of "B Positive."On "Young Sheldon," that has meant supplementing the core cast beyond Annie Potts as the grandma with Craig T. Nelson, Ed Begley Jr., Reba McEntire and Wallace Shawn."B Positive," another Lorre production, has taken an even more marked turn in its second season, with a major makeover that put the lead character played by Annaleigh Ashford in charge of an assisted-living facility, adding a number of veteran performers -- Héctor Elizondo, Jane Seymour, Ben Vereen, and Jim Beaver — as the residents.There's a practical aspect to all this, including data indicating that the streaming audience has gotten older during the pandemic. Last year, the research firm Ampere Analysis issued a report suggesting that Netflix's subscriber base has grown older as those viewers seek more entertainment options at home.The appetite for streaming content hasn't gone unnoticed by performers, especially with certain kinds of movies having witnessed their viability in theaters significantly erode -- a dynamic that preceded Covid-19 and has only become more pronounced over the last two years.In a recent interview with the Hollywood Reporter, Sandra Bullock -- who has starred in two movies for Netflix -- referenced Hollywood's brutal history in terms of putting actresses "out to pasture" once they reach a certain age."They're good to artists. They're good to filmmakers. If it wasn't for Netflix, a lot of people wouldn't be working," Bullock, who is 57, said. "Their stories wouldn't be told. Who would think that me, as a woman, would still be working at this point?"Michael Douglas, Sarah Baker and Kathleen Turner in the third season of "The Kominsky Method."Of course, Bullock is a whippersnapper relative to Rita Moreno and William Shatner, both 90, with the former featured prominently in Steven Spielberg's new version of "West Side Story," and the latter making headlines by traveling into space aboard Jeff Bezos' Blue Origin. (Shatner also starred in a movie released last year, "Senior Moment," opposite the ubiquitous Smart.)A few caveats apply. Although there have been shows like "Kominsky Method" and "Grace and Frankie," starring Jane Fonda and Lily Tomlin, juicier parts for actors in that age bracket -- beyond the customary wacky grandparent roles -- still generally come in multigenerational series.In addition, the recent signs of progress follow a long period in which actors -- particularly women -- saw opportunities fall off a cliff as they age out of the demo. Geena Davis, an outspoken advocate on this issue, recently discussed those challenges in a podcast interview, citing the longstanding practice of male actors insisting on casting much younger women as their romantic interests, a situation she claimed to have personally experienced.At the same time, the increasingly niche nature of entertainment has facilitated breakthroughs, even in movies. Last year's Oscars saw then-83-year-old Anthony Hopkins become the oldest best actor winner ever for "The Father," with two performers in their 60s and 70s, Frances McDormand and Youn Yuh-jung, respectively, joining him in the winner's circle.In a 2019 interview, Lorre cited the storytelling potential in writing about getting old, including "losing loved ones, endless health issues, [and] feeling estranged from the culture — which is very much a youth-dominated culture."Television has been and, in most respects, remains a youth-dominated medium. But thanks to these shows and others, the terms of that estrangement have begun to look at least a bit more hospitable.

Faith Karimi, CNN

2022-03-12 14:09:21

news

us

https://www.cnn.com/2022/03/12/us/best-in-us-surfer-one-last-wave-dan-fischer-cec/index.html

A grieving surfer is taking hundreds of strangers' late loved ones for one last ride - CNN

In the midst of his own grief following the death of his father, surfer Dan Fischer started the One Last Wave project, through which he found a community of people going through similar pain amid the coronavirus pandemic.

us, A grieving surfer is taking hundreds of strangers' late loved ones for one last ride - CNN

A grieving surfer is taking hundreds of strangers' late loved ones for one last ride

Two years ago, Covid-19 turned the world upside down. While the pandemic is not over, The Best in Us is a series that highlights people whose pandemic stories exemplify the resilience of the human spirit. (CNN)Dan Fischer has always found solace in the ocean.As a child, he loved going to the beach and riding bikes along the coastline with his father, Karl Fischer. So when he lost his dad to pancreatic cancer and his dog of 15 years, Rudy, died shortly afterward, he turned to the healing power of the water.At the start of this year, Fischer wrote his father's name on his surfboard and took it out to sea in Newport, Rhode Island. His father's name glistened in the sun on what felt like a shared adventure, he says. Inspired, Fischer made a video and posted it on social media the same day. "If you love the ocean, or you know someone who loves the ocean, or maybe you lost someone who just love[d] being outdoors ... comment on this video with their name and a bit of their story, and I'll put their name on my board here, just like I've done with my dad upfront," he says in the video. "And I'll take them out in the ocean for you."Read MoreNames poured in from thousands of strangers grieving the loss of loved ones, a response exacerbated by a relentless pandemic. And with that, the One Last Wave Project was born.Dan Fischer and his father, Karl Fischer. The elder Fischer died of pancreatic cancer. A community of strangers are healing together About two months later, Fischer has received over 5,000 names and written most of them on two surfboards. The first two surfboards ran out of space -- he's working on getting more. He's surfed the boards several times. With his silver sharpie, he writes the names in neat letters on the surfboard and puts a clear acrylic coat over them so they don't wash off. Sometimes, he makes a video or takes a photo of a name and shares it with the person's loved ones. He also posts photos of the surfboard with the names on social media. Even though you know it's happening to other people, there's a feeling of solitude."Dan Fischer describes the experience of griefAfter grieving his father alone during the pandemic, which began roughly two years ago this week, Fischer started the One Last Wave Project to exchange stories with a community of people going through the same pain. They're essentially healing together, he says. "You feel like you're the only one that's dealing with that. Even though you know it's happening to other people, there's a feeling of solitude," Fischer says. "And when I was able to be vulnerable in those moments and share my grief with other individuals, it allowed other people to sort of break down that barrier of feeling alone and be able to share their loved ones as well."Dan Fischer and his beloved dog Rudy.Fischer, 42, started surfing at a young age and has rekindled his passion in recent months as a way to cope with loss. "Surfing is so healing. You're so deeply connected to the ocean and to nature, and the saltwater immersion sort of washes away all the negativity that's going on inside of you," he says. Though a lot of people have been struggling with grief in the pandemic, Fischer was stunned by the responses that have poured in. "If I was able to help one person or one person shared their name, that would have been enough for me," he says. "But I was blown away -- by not just the number of people sharing, but the depth of stories and love that they were sharing."Messages have come in from all over the worldFischer lives close to several beaches in Newport and spends a lot of time in the ocean. Most days, he decides the best time to surf based on the wave rise and patterns. He also spends a lot of time these days going through comments and direct messages he receives on social media. He has received requests from as far away as New Zealand and South Africa, he says. Most of the messages involve someone who had a deep love for the ocean. Others had yearned to visit to the beach but didn't get a chance to go before illness struck. "We get messages from parents who've lost children who always wanted to learn to surf, or who had such fond memories of being at the beach and building sandcastles," Fischer says. Fischer's surfboards are covered with hundreds of names of departed loved ones."People who are in hospice care who had never got a chance to be there or someone's last dying wish," he adds. "I had someone who was in the hospital deciding medically to end their life. And one of the family members had reached out and asked if they could be a part of the project. And of course, I said yes."A daughter's memory lives on Chicago resident Jennifer Lawnicki came across Fischer's message on TikTok in January. Her daughter, Peyton Avery, died at age 4.Peyton was diagnosed with leukemia when she was seven months old after she became lethargic and was rushed to the emergency room. Doctors didn't think she'd make it through the night, but she defied expectations and lived for several years. Peyton Lawnicki, 4, died of leukemia. She loved dolphins and the ocean. Fischer has honored her as part of his One Last Wave Project. She loved dolphins and the ocean, and though she spent most of her short life hospitalized, her mother took her to the beach every chance she got. So when a stranger posted an opportunity to connect her daughter with the ocean she'd loved so much, Lawnicki was among the first people to send Fischer a message. "I thought I'd give it a shot. He replied and put Peyton's name on his board," Lawnicki says. "I was ecstatic knowing Peyton would have been overjoyed having her name on his surfboard. Dan made a video showing me he was taking Peyton with him, and it affected me more than I thought." I know she was with him that day.Jennifer Lawnicki said of her daugther PeytonFor Lawnicki, the idea that a perfect stranger took the time to write Peyton's name on his board and make a video about her was overwhelming. "I know she was with him that day. I can't explain the connection I now feel to Dan other than great appreciation and love," she says. "We have kept in touch and I try to send him words of encouragement and support, letting him know this small but amazing gesture has a great impact on people." Lawnicki has a photo of the board with her daughter's name sitting on her desk. Fischer says Peyton's story was among the first ones submitted for the One Last Wave Project, and it affirmed his belief to keep it going. What's next for the projectFischer hopes to expand the project to reach even more people. "It's had a really profound impact on me," he says. "Being able to combine a passion of surfing with helping other individuals heal is something that took precedence over everything else in the last few weeks."Numerous people have reached out with offers for help, including expertise in marketing, design and donations to get more boards. And while he welcomes the help to expand the project, he says, donations are not necessary to put a loved one's name on the surfboards. "I make it very clear every time someone says, you know, how can I donate? I want them to know that I don't want them to feel that they have to donate in order to have their loved one on there. It's never what it's been about, and it never will be," he says.Fischer will keep taking strangers' loved ones out to sea, one wave at a time. And he plans to take his project around the world and connect with even more people -- through shared grief and the power of the ocean.

Harmeet Kaur, CNN

2022-01-22 12:28:49

entertainment

entertainment

https://www.cnn.com/2022/01/22/entertainment/definition-please-donkeyhead-netflix-cec/index.html

'Definition Please' and 'Donkeyhead' explore what it's like to reach adulthood and still feel stuck - CNN

Both films, now on Netflix, tell stories about children of Indian immigrants. But instead of their cultures taking center stage, the characters grapple with stagnation and subvert cultural expectations -- challenging the model minority trope in the process.

entertainment, 'Definition Please' and 'Donkeyhead' explore what it's like to reach adulthood and still feel stuck - CNN

'Definition Please' and 'Donkeyhead' explore what it's like to reach adulthood and still feel stuck

(CNN)In the opening sequence of "Definition Please," 8-year-old Monica Chowdry is asked to spell one final word correctly before she can be declared the Scripps National Spelling Bee champion.The word: Opsimath. Definition: A person who begins to learn or study late in life.This is the irony at the heart of "Definition Please," the 2020 directorial debut of Sujata Day now streaming on Netflix. Monica (portrayed as an adult by Day) spells the word correctly and wins the bee, attaining the stereotypical pinnacle of success for an Indian American child. But 15 years later, the character is back living at home in Greensburg, Pennsylvania, and hasn't exactly lived up to her potential.The film's title is a metaphor, Day said, for Monica's malaise.In "Definition Please," Monica Chowdry finds herself living at home in a state of stagnation."When you're up there doing the spelling bee as a contestant and you are searching for more time, you say 'definition, please' or 'language of origin' or 'can you please repeat the word?'" she said in an interview with CNN. "Not only is this young woman a former spelling bee champion, but she is also looking for definition in her life."Read MoreIn other words, "Definition Please" is a story about being stuck and finding your way out of the slump. Along the way, Monica's relationships with her brother Sonny (Ritesh Rajan), her mother Jaya (Anna Khaja) and her best friend Krista (Lalaine) -- and those characters' own struggles -- help her figure out how to move forward.Analysis: Creators of color, your time in Hollywood is nowThe question of how to move forward is also at the center of "Donkeyhead," a film from English-Canadian director Agam Darshi that is also now on Netflix. It follows Mona (played by Darshi), a failing writer in her mid-30s who is living in her childhood home in Canada with her ailing Sikh father. When he falls into a coma, Mona starts to unravel and her three siblings show up to handle things.Both films, which were recently acquired by Ava DuVernay's distribution company Array, tell stories about children of Indian immigrants (Bengali Hindus in "Definition Please" and Sikh Punjabis in "Donkeyhead"). But instead of their cultures taking center stage, the characters grapple with stagnation and subvert cultural expectations -- challenging the model minority trope in the process.They depict deeply flawed charactersIn "Donkeyhead," Mona is the black sheep of the family -- the only one of her siblings who doesn't appear to have it all together. She resists religious convention, pushing back when her aunt wants to host three days of continuous Sikh prayers at the family home. Her writing career is in shambles after she failed to turn in her book draft. To top it all off, she's having an affair with a married man.Put another way, Mona is the "donkeyhead" of the family.The title "Donkeyhead" is a reference to a common Punjabi insult and term of endearment."Sikh Punjabis obviously really love their kids, but they can be rough. The language can be rough. And it comes through in the child-rearing," Darshi explained. "[My mom] would call me donkey every time I would do something stupid. As much as it is an insult, it's also a term of endearment."But Mona is also the one who stayed behind to care for their father after his cancer diagnosis -- despite the abuse she experienced at his hands when she was a child. In doing so, Mona is trying to prove to her father that she's more than the "donkeyhead" he sees her as. But she's also reckoning with the fact that when her father dies, she might finally be forced to confront her aimless existence.They're both universal and specific"Donkeyhead" is at once universal and specific. It's an exploration of messy family dynamics, compassion, forgiveness and self-discovery. But it tells that story through the distinct lens of a Sikh, Punjabi immigrant family -- a demographic that has rarely been depicted with nuance and complexity on screen.In "Donkeyhead," Mona and her siblings are preparing for their father's death while coming to terms with their own fears and insecurities."I really wanted to represent a messy, flawed South Asian woman because I don't think we have enough of that in cinema," Darshi said. "And I really wanted to represent and create space for a Sikh, Punjabi man with a turban on camera in a way that we've never seen before either."Day had similar ambitions for "Definition Please." "What happens in Western media and Hollywood stories is they depict all Indians as the same people, whereas there's Gujaratis and Punjabis and South Indians and Bengalis," she said. "Yes, we have a lot of similarities but we also eat different food, we wear different clothes, all of our weddings are different. I really wanted to tap into my culture because I love when I watch films that are very specific, yet can be universal to all people."One of the central tensions of "Definition Please" is Monica's estranged relationship with her brother Sonny -- and their mother's attempts to reunite them."Definition Please" nods to Bengali soap operas, sprinkles in Bangla words and shows Monica co-sleeping with her mom. But its characters are facing very real challenges -- Monica's brother Sonny is battling bipolar disorder and the weight of always being compared to his high-achieving younger sister. His family members are coming to terms with how to understand his condition. Monica is dealing with her own issues."I wanted to show the beauty of that universal experience and normalize us as people, while also having the culture there as a background and not focusing the story on a character's conflict with their culture," Day added. They normalize not having it all figured out"Donkeyhead" director Agam Darshi sees her film as a kind of coming-of-age story.Ultimately, "Definition Please" and "Donkeyhead" are coming-of-age stories of sorts -- both exploring the feeling of being in a state of arrested development even after adolescence. "I love coming-of-age stories, and I always feel like they're somewhat wasted on the young," Darshi said. "I think it's so much more interesting to watch somebody who's close to 40 having to start over and having to realize that everything that they had grown up with and believed in was perhaps false -- that they have to start anew or that they've learned something and they're coming into their own."Against the expectations of a culture that emphasizes achievement and success from an early age, the two films normalize the experience of being an adult and not having it all figured out. They signal that it's okay to be a late bloomer, or in the words of former spelling bee champion Monica Chowdry, an opsimath.

Harmeet Kaur, CNN

2022-03-10 16:02:25

entertainment

entertainment

https://www.cnn.com/2022/03/10/entertainment/turning-red-puberty-periods-wellness-cec/index.html

'Turning Red' tackles puberty and periods in a way that's rare - CNN

By normalizing -- and even celebrating -- one of life's most awkward phases, "Turning Red" does something not often seen on film and television, especially media aimed at kids.

entertainment, 'Turning Red' tackles puberty and periods in a way that's rare - CNN

'Turning Red' tackles puberty and periods in a way that's rare

(CNN)In an early scene from the new Pixar film "Turning Red," the character Mei hides out in the bathroom on a morning before school. Having spiraled from a particularly embarrassing encounter the night before, she's woken up to find that she's turned into a giant red panda.Mei's mother Ming assumes this reluctance to leave the bathroom means her 13-year-old daughter has just gotten her first period."Did the ... did the red peony bloom?" her mom asks through the door.Ming soon storms in with ibuprofen, vitamins, a hot water bottle and pads. Mei, unable to tell her mother what's really going on, endures an uncomfortable conversation about how she's now a woman and how her body is starting to change.Mei Lee is a 13-year-old girl who loves karaoke, her best friends and the boy band 4*Town. Mei is indeed undergoing a bodily transformation -- just not the one her mom thinks. As Mei soon discovers, she poofs into a furry red panda when she's overcome with emotion, reverting back only when she gets her emotions under control. Menstruation may not be what's ailing Mei, but the metaphor for periods, puberty and the ensuing emotional roller coaster is clear.Read MoreBy normalizing -- and even celebrating -- one of life's most awkward phases, "Turning Red" does something not often seen on film and television, especially media aimed at kids. It treats periods and female puberty as something to be embraced, rather than be embarrassed about.'Turning Red' normalizes periodsThough periods are an experience shared by half the world's population for a significant part of their lives, they're often regarded onscreen (when they're regarded at all) with fear, shame or disgust. It's a taboo that director Domee Shi was acutely aware of."You don't see that very often in movies and TV shows," Shi said in an interview with entertainment news site Uproxx, of the period talk between Mei and her mom. "And I think that's precisely why we wanted to put it in the movie. I mean, this movie is actually is for 13-year-old Domee that was in a bathroom, horrified, thinking that she had crapped her pants. And too afraid to tell her mom or ask anybody about what was going on."Mei's complicated relationship with her mother is at the heart of "Turning Red."While positive period portrayals in kids' and family-oriented movies and TV shows are rare, there are some notable examples. In a 1990 episode of "The Cosby Show," in which Rudy gets her first period, the youngest Huxtable rebuffs her mom Clair Huxtable's efforts to celebrate the occasion and turns to her friends for support. When the information she gets from her pals is faulty, it's Clair who steps in to reassure her that periods are completely normal.There was the 1991 episode of the sitcom "Blossom," which saw its titular character struggling to talk to her dad about her first period and wishing she had Clair Huxtable to guide her. A scene from the 1991 coming-of-age film "My Girl" features Vada screaming that she's hemorrhaging, only to be told that she's gotten her period. A 2001 episode of the animated series "Braceface" sees Sharon mistake her menstrual cramps for appendicitis. And in more recent history, the ABC sitcom "Black-ish" treats Diane's first period as an empowering experience.Still, these examples tend to be the exception, not the norm. Tackling the subject of periods feels especially radical for an animation giant like Pixar, given that 20 of the 24 films released by the studio center males. But by addressing menstruation with candor and levity, the creators of "Turning Red" intend to destigmatize it -- for everyone, not just young girls."The hope is with putting it on the screen and having it be something that is cringy, but also funny, and a part of this story, it does normalize it," producer Lindsey Collins told pop culture and gaming news site Polygon. "There's an appreciation from anybody who's gone through it for what we put on the screen, but also those who haven't gone through it."It also embraces the emotional extremes of pubertyBeyond periods, "Turning Red" explores puberty in all its uncomfortable glory -- through the eyes of a confident, goofy Chinese Canadian girl. In the words of Shi, it's an "Asian tween fever dream."Throughout the film, Mei navigates the awkwardness, excitement and embarrassment that come with changing hormone levels and manifest in her body as a red panda. She grapples with lust and attraction, crushing on the teenage convenience store cashier and members of her favorite boy band 4*Town alike. She imagines her objects of desire as mermen, then berates herself for doing so when her drawings are found out. She longs to see 4*Town in concert with her best friends, and vents to them angrily when her mom says no."From the very beginning, [I was] just really trying to not hold back with telling the story about a girl going through puberty. We're going to go there," Shi said in an interview with IndieWire. "From the very first version, it had pads, it had puberty, it had the weird boy crushes and drawings."Mei is just like any other girl navigating puberty -- except for the turning into a panda part.But perhaps the most profound challenge for Mei during this period of her life is figuring out how to be herself while also respecting the wishes of her parents -- a coming-of-age dilemma surely familiar to many children of immigrants. As Mei discovers more about who she is, she finds that parts of herself conflict with the image her mother has of her. Learning to accept those parts of herself, while finding the courage to stand up to her mother, is part of Mei's pubescent transformation, too.Shi has said she hopes that "Turning Red" helps girls and women feel seen -- and that it signals that periods, puberty and unwieldy emotions are simply a normal part of life.

Megan Alldridge, CNN

2022-02-01 12:46:50

news

europe

https://www.cnn.com/2022/02/01/europe/slovenian-company-viberate-imdb-music-industry-spc-intl/index.html

Slovenian company Viberate wants to be the IMDb of the music industry - CNN

Viberate gathers data from major streaming sites, ticket vendors and radio stations around the world to help musicians develop their careers.

europe, Slovenian company Viberate wants to be the IMDb of the music industry - CNN

'Data is the new gold': A Slovenian company wants to be the IMDb of the music industry

(CNN)When DJ Umek, one of Slovenia's most prolific DJs and producers, was starting out in the 1990s, he found himself with few ways to measure how his career was growing. "As an artist, you had to rely on your feelings and only feelings," he recalls. The lack of data and analytic intelligence made it harder to spot trends and more difficult for artists, record labels and venues to navigate the industry. "We were wandering in the dark," says Umek.Enter Slovenian start-up Viberate. Founded in 2015 by DJ Umek and his two managers, Vasja Veber and Matej Gregorčič, the platform gathers data from major streaming sites, global ticket vendors and 24,000 radio stations across 150 countries and translates this into an online profile for musicians. The start-up aims to revolutionize the use of data in the music business. "The music industry is one of the coolest industries out there, but statistics not so much, and we're joining those two worlds together," Veber explains.Viberate's online dashboard offers a range of insights, including chart rankings, social media engagement and fanbase demographics. For the 500,000 artists around the world who use the platform, for a fee of €59 ($66) per month, the dashboard can help them understand where to focus their promotional efforts. Read More"I always go and compare my profile to other similar artists ... and then there's a clear sign of where I should invest more time, maybe more money, in a platform or in social media so it will help my career," says Umek. Transforming the industryTatiana Cirisano is a music industry consultant and analyst at entertainment intelligence company MIDiA Research. She believes we are witnessing an emerging trend where, rather than releasing music videos for singles ahead of an album release, artists increasingly "release their albums, go on social media, check the analytics, figure out what songs people seem to like the most and then from there say 'this is the single, and this is the one that we're going to put our music video budget behind.'" As well as artists, Viberate has 150,000 venues and 6,000 festivals using the site, most notably Insomniac, America's biggest promoter of electronic music festivals, and the UK's Glastonbury Festival. Viberate's analytics dashboard.Analytics has also transformed how record labels operate, says Cirisano. "Data has completely changed the way that talent scouts at labels work," she observes. In the past, scouts "used to go to gigs and listen to artist demos that got mailed in on a CD ... They'd go with a gut feeling," whereas the process has now changed to "looking at data, looking at an artist who seems to maybe be bubbling up and how many streams they get per month."The global music streaming market was worth $13.4 billion in 2020, according to industry group IFPI and Spotify adds 60,000 new tracks every day -- so the data helps "sift through all of the music activity out there," explains Cirisano.Predjama: The world's largest cave castleBy recognizing the importance of data, music is following in the footsteps of other industries. "The movies have IMDb and the tourism industry has Airbnb and Booking.com, and those services were aggregating the entire industry," says Viberate's co-founder Veber. Viberate is one of several data analytics companies aimed at the music industry, including Chartmetric, Soundcharts and Songstats. But some worry that too much focus on data analytics could compromise music's inventiveness. "The music industry is inherently a creative place," says Cirisano. "This is art that we're talking about. It's really hard to take an overly quantitative approach to that." Instead, she advocates that data be "a jumping off point" by which artists, labels and venues make their decisions. DJ Umek takes it a step further and argues that "data doesn't kill creativity, it complements it." Looking to the future, Viberate's goal is for every musician to be using data. As Veber puts it: "In five to 10 years, being a musician and not having a profile on Viberate would be the same as being a guitar player without the guitar."

Megan Alldrige, CNN

2022-02-08 12:54:50

news

europe

https://www.cnn.com/2022/02/08/europe/chef-luka-kosir-slovenia-spc-intl/index.html

Luka Košir is blazing a trail for sustainable gastronomy - CNN

Through his restaurant, Grič, Slovenian chef Luka Košir's is embodying the concept of eating locally.

europe, Luka Košir is blazing a trail for sustainable gastronomy - CNN

The Michelin star chef blazing a trail for sustainable gastronomy

(CNN)In the quiet, snow-covered Slovenian village of Šentjošt nad Horjulom, where fields stretch for miles, it would be easy to miss the restaurant tucked away on the top of the hill. Grič -- meaning literally "hill" in Slovenian -- has been in the Košir family for generations and the restaurant embodies the concept of eating locally. Located 30 kilometers (19 miles) outside of Slovenia's capital Ljubljana, the restaurant has an abundance of fresh produce in its gardens and surrounding forests. It is from here that 80% of the menu's ingredients are sourced and dishes are inspired."Our philosophy of getting products in the restaurant is very simple," says owner and head chef Luka Košir. "When we start to develop a dish, we check our gardens, what grows there. We check the forest, what is growing in the forest." Košir believes it is important to have an intimate understanding of where his produce comes from. For his meats, he relies on local producers in the region, and in 2013 he opened his own organic duck farm. "It's very important, I think, for each chef not to lose this feeling of how your products come to the table or how somebody has to produce it so that you can serve it," says Košir. Košir's duck farm.This approach to cooking has paid off, and in 2021 Grič was awarded a Michelin Star. Grič was also recognized with a Michelin Green Star for the restaurant's role in blazing a trail for a more sustainable restaurant industry -- something he hopes will be replicated by others. Read MoreKošir believes his philosophy of buying locally and seasonally should give everyone inspiration to explore different ways of getting food to the table. "If you have a garden, go outside to the garden, pick stuff from the garden and prepare something from it," he says. By doing so he hopes we can all make better and greener food choices for the planet.

Kathryn Vasel, CNN Business

2021-04-21 17:29:55

business

success

https://www.cnn.com/2021/04/21/success/socializing-office-return-to-work/index.html

Nervous about socializing in the office again? Here's how to break the ice - CNN

How do you break the ice again after more than a year of virtual meetings?

success, Nervous about socializing in the office again? Here's how to break the ice - CNN

Nervous about socializing in the office again? Here's how to break the ice

(CNN)The idea of returning to the office can conjure up a lot of emotions. Fear. Excitement. Nervousness. Anticipation. Ambivalence.More from Success To prevent burnout, LinkedIn is giving its entire company the week off2020 taxes: Everything you need to know76 all-cash offers on one home. The housing madness shows no signs of slowingAnd whether employees will be returning to the office full-time, a few days a week or periodically throughout the year, it's going to be an adjustment to get back into the flow of office life and socialize face-to-face again, particularly if social distancing and safety measures are still in place. "It is going to be a little weird at first," said Susan McPherson, author of "The Lost Art of Connecting."But socializing and having friends in the office are often good for your career -- especially when it comes to engagement and productivity. Office friendships can also be a benefit for the employer. "At work, relationships are everything. Just having that space to make mistakes, knowing you can come to your team members and managers about anything, being able to make decisions faster -- all of that is going to affect the company's bottom line, retention rates and employee fulfillment," said Stephanie Heath, a career coach. Read MoreBut how do you break the ice again after more than a year of virtual meetings? Here are some steps you can take.Get the conversation goingAs we dust off our in-person socializing skills, it helps to have a few go-to questions on hand that go beyond typical small talk. "Have some meaningful questions that will help you engage with others," said McPherson. She suggested asking questions like: Is there anything I can do to help you? Is there somewhere in the world you are planning to visit? If there was a problem you could solve in the next three months what is it and why?"Questions like that get us to a deeper place, but aren't so personal that they cross the lines of putting people in an awkward position," McPherson said. 'I don't have to choose between lifestyle and career.' How remote work changed these people's livesShowing a little vulnerability can also help get conversations flowing, said Heath. For instance, telling someone about how you felt awkward at your first social gathering since the pandemic began can help break the ice. "When you share something that is semi-embarrassing and start with that...it invites the other person to start sharing," Heath said. When it comes to socializing outside of the office, McPherson said to start slow. "Always defer to the comfort level of others and the state and local guidelines for gatherings. This is not the time to require people to show up who may not feel ready," she said. She added that because of the nicer weather coming up, a small picnic or meeting in a park might help with the transition, instead of a happy hour in a bar. Start local When trying to forge social relationships in the office again, Heath suggested starting with your teammates and then with your managers and other leaders. "You can feel like you are in good standing with everyone that is around you that is on your level, you're laughing and joking again and you have professional 'persona' back on," she said. Once you're feeling comfortable, schedule some face time with your direct manager and higher-ups to catch up, hash out any future projects and sort through any pending issues.Reignite your career If 2020 thwarted your career plans and you are still feeling stuck, take this time of transition to reassess your goals. "Sit down and reaffirm what your goals are," said Heath. "Write them out and create a game plan on how you want to attack it. Include a timeline...once you have that meeting with yourself, then you bring in other people." But don't become too focused on yourself, said Laura Gallaher, an organizational psychologist and founder of management consulting firm Gallaher Edge. "Focus on how you can be really helpful to other members of the team. Ask how your contributions will impact the organization as a whole, and essentially prioritize the team over self. Doing this will make you look like a confident go-getter that your leadership team will want to hold onto, reward and promote," she said.

Don Riddell, CNN Video by Noura Abou Zeinab, for CNN

2020-08-31 07:51:12

sport

football

https://www.cnn.com/2020/08/31/football/angel-city-julie-uhrman-natalie-portman-alexis-ohanian-cmd-spt-intl/index.html

Serena Williams: US female 'A' listers and Reddit co-founder ready to disrupt football industry with Angel City - CNN

For Alexis Ohanian last summer, it started with a simple phone call. The entrepreneur and co-founder of Reddit was in London and his friend wanted him to come to Paris, "He's like, you're an idiot if you don't come down to watch the USA play France."

football, Serena Williams: US female 'A' listers and Reddit co-founder ready to disrupt football industry with Angel City - CNN

Angel City: Disruptors plan Hollywood ending for LA women's soccer club

(CNN)For Alexis Ohanian last summer, it started with a simple phone call. The entrepreneur and co-founder of Reddit was in London and his friend wanted him to come to Paris, "He's like, you're an idiot if you don't come down to watch the USA play France."Shortly afterwards, Ohanian was alongside 45,000 other fans, watching Megan Rapinoe score twice for the US women's national team in the quarterfinal of the Women's World Cup, leading her country towards what would be a fourth world title. "It was admittedly the first time I'd ever been to a women's football match," he told CNN Sport, "and the crowd was electric. I walked away from it thinking, how did I not pay this enough attention? How did I not even know there was a pro league back in the States?" A few days later, he and his wife, the tennis legend Serena Williams, were watching the tournament final on television. Their young daughter Olympia was running around wearing the jersey of one of the team's star players, Alex Morgan.Out loud, Ohanian wondered about the possibility of Olympia one day playing the game professionally, but Serena cut him off.Read More"Without missing a beat, my wife was like, not until they pay her what she's worth. And she was half joking, but not really."In that moment, Ohanian says he felt compelled to try and make a positive contribution to the world of women's sports, "Alright babe," he declared, "challenge accepted!" Partner at Upfront Ventures Kara Nortman, founder of 22 Capital Group Tracy Gray and Partner at Lightspeed Venture Partners Nicole Quinn speak on stage at the 2018 Girlboss Rally at Magic Box on April 28, 2018 in Los Angeles, California.READ: Megan Rapinoe says 'we all have a responsibility to make the world a better place'Elevating womenTwelve months later, 'Angel City' has become a reality. Ohanian is a lead investor on a new Los Angeles soccer project led by the Hollywood actress and activist Natalie Portman.The National Women's Soccer League was formed in 2013 with just five teams, four have been added since and the league will hit double figures in 2021 when Racing Louisville FC join in. The following season, Angel City will make it 11 teams in the league. According to Angel City's President Julie Uhrman, the idea for this new team came during Portman's involvement with Time's Up, a movement established in 2018 to combat sexual harassment. "You can see that she really gets behind causes that are important to her and she does meaningful work for those causes," Uhrman told CNN Sport, adding: "she wanted to take her commitment to elevate women's athletics, to address pay equity and to make it public and meaningful." Promoting Angel City's launch in July, Portman spoke about the challenges which have traditionally held back women's sports. She was talking on Instagram with somebody who's experienced it first hand for the last 20 years -- Williams. "Our team told me that only 4% of sports coverage is of women's sport," Portman said, "it's insane that we're here in 2020 and it's so disproportionate." Serena Williams and Alexis Ohanian attend the 2018 Brand Genius Awards at Cipriani 25 Broadway on November 7, 2018 in New York City. READ: Alexis Ohanian on being married to Serena WilliamsSwimming against the tideThe team, which doesn't have an official name yet -- Angel City is only a nickname -- and they won't play until 2022. But already it's clear that those behind the club are doing things differently.For one, the founding investors are almost exclusively women, "I think you can count the number of clubs that are mainly owned by women on one hand and probably with only a couple of fingers," Uhrman told CNN, "I mean, it's very unusual." Listed on the club's website are the 31 founding investors and only four are men; Alexis Ohanian is one of those odd-men out.He described an early meeting with Uhrman, Portman and venture capitalist Kara Nortman, "the three of them sat down and said, 'this is what we want to build, this is how we want to build it,' and it was really important to them from day one to have a majority women-owned team. "I think we can talk about so many of the disparities in professional sports. And I think one of the ways we get real change is not just proving that this is an amazing business that will generate lots of money and lots of attention and lots of success, but it's also showing that every bit of how this organization is run can be different and be as, if not more successful as a result."And not because it feels good, although it does feel good, but because it's preposterous that it is not more normal." The club knows that they are trying to swim against the tide, and not just because they're hoping to change the perception of professional women's sport; they're also launching a club in a Los Angeles sports market that is already saturated. US-Israeli actress Natalie Portman arrives for the 92nd Oscars at the Dolby Theatre in Hollywood, California on February 9, 2020.READ: Natalie Portman and Serena Williams are among investors behind Angel CityCrowded marketUhrman rattles off the clubs that they'll soon be rubbing shoulders with in a city famed for congestion, "Los Angeles is a market where there is already nine professional sports teams and [collegiate] powerhouses like University of Southern California and University of California, Los Angeles.So even the idea of bringing another professional sports team here, the third soccer club here, is an ambitious, big idea." But Angel City believes that their novel approach will cut through the noise, establishing a local, community, club with global appeal. "We know women's soccer has been incredibly successful during the Olympics and World Cup," Uhrman says,"The question is, why is it every four years that they garner such attention? And I think the answer is because of exposure and awareness." Behind the key investors is a supporting cast of Hollywood stars, including Jennifer Garner, Eva Longoria and Jessica Chastain, plus Serena Williams and 14 former players on the US women's national team; it's a group of women with tens of millions of followers on social media; they're going to use their collective platforms to shout it from the rooftops. "There's this general issue that if you can't see it," Uhrman says, "You can't be it. If you can't see it, you can't follow it. [If] you can't cheer for it, you can't get your friend to become a part of it, and so there's a systemic problem that we have to fix and change." Founder of OUYA Julie Uhrman speaks onstage at the Julie Uhrman + Josh Topolsky Keynote during the 2013 SXSW Music, Film + Interactive Festival at Austin Convention Center on March 11, 2013 in Austin, Texas.Uhrman continues, "We have a group of people that come from the entertainment space, the media space, sports and the technology space. We're thinking about soccer as bigger than sports, in fact we're thinking about it as entertainment." Ohanian says the focus will be on social media storytelling to build the brand and it already seems to be working, "tens of thousands of folks are very excited, [we've] sold out merchandise for a team that doesn't exist yet." He compares women's soccer to e-sports, which drew a rush of investment five years ago, and has concluded that the market has massively undervalued female soccer."These are clubs of gamers, young men who draw hundreds of millions of fans all over the world. [But] the average American does not know who the best League of Legends player is, whereas Megan Rapinoe and Alex Morgan are already cultural icons."From a marketing standpoint, no offense to e-sports, they're far more marketable for brands who want to be aligned with consumer spending in this country." In her conversation with Williams on Instagram, Portman remarked that already, Angel City has changed the conversation, "people are starting to think about how to do this in other sports too." Women are standing up for and elevating other women; the sisters are doing it for themselves. It's an LA Story that could have a Hollywood ending and it's a potential game-changer for women's sports everywhere.

Aimee Lewis, CNN

2020-08-15 11:23:42

sport

football

https://www.cnn.com/2020/08/15/football/mason-greenwood-manchester-united-europa-league-spt-intl-cmd/index.html

Mason Greenwood: The Man Utd teenager on the road to becoming a great - CNN

There was a period during the winter of 2008 when every Saturday night Paul Newsham's Yorkshire home would sound like old telephone exchange switch room.

football, Mason Greenwood: The Man Utd teenager on the road to becoming a great - CNN

The Man Utd teenager who is a superstar in the making

(CNN)There was a period during the winter of 2008 when every Saturday night Paul Newsham's Yorkshire home would sound like old telephone exchange switch room. "That'll be someone ringing about Mason, to see if he will be playing," his wife Julie would say every time the phone rang. The callers were scouts, inquiring as to whether Mason Greenwood, the six-year-old who would develop into Manchester United's prodigiously talented striker, would be featuring the next day for the boys' team Newsham coached in the north of England, Idle FC. Greenwood has, clearly, always made an impression on the pitch.How Bruno Fernandes transformed Manchester United's fortunesSince those carefree days as a lightning quick striker playing near his hometown of Bradford, the 18-year-old has become an integral member of an improving United, scoring goals, helping the team rise up the league and, over the last month, talked about as the next great English talent. Read MoreHe may also help United reach the Europa League final, should Ole Gunnar Solskjaer's men overcome Sevilla in Sunday's semifinal. Scoring 10 league goals in an impressive debut season, Greenwood is only the third teenager to score 10 or more English Premier League goals in a single campaign.Former England captain Alan Shearer has said Greenwood could usurp him as the EPL's record scorer. According to former Liverpool player and now football pundit Jamie Redknapp, those at United who have worked with the teenager say he's one of the best the club has ever seen, while another former England star, Gary Lineker, has said it "won't be long" until Greenwood is selected by England manager Gareth Southgate. The list of admirers seems endless. But those who follow United closely have known about a young player called Greenwood coming through the ranks for years. Hyperbole and excitement has followed the player from a young age.'A different level to everyone else'As a six-year-old playing for Idle FC's under-7s, it was the young Greenwood's pace that stood out, recalls Newsham. Shy and small in stature, Greenwood also had an eye for goal, shooting on sight, just as he did for United post-lockdown as the team secured a lucrative Champions League spot by finishing third in the league. A few days after his sixth birthday, Greenwood made his debut for Idle FC in a match against Silsden Football and Cricket Club, scoring all 10 goals in a 10-1 win. "I kept having to bring him off because once you had 10 goals you had to stop the game, so I had to bring him off otherwise the game would've been over too quick," recalls Newsham with a chuckle. "I'd keep bringing him off and he'd just stick by the side of my leg, looking up at me asking, 'Can I go on again yet, Paul?' He was so happy to be playing."From the first training session, his control of the ball at that sort of age was excellent. You could tell watching him he was a totally different level to everyone else."Greenwood (2R) celebrates scoring his team's second goal against Aston Villa on July 9, 2020. Greenwood's scoring ability is a natural talent honed to such an extent that Solskjaer, a man who worked with Wayne Rooney and Cristiano Ronaldo, has described him as the deadliest finisher he has seen at such an age. He is only the fourth teenager in United's history, following George Best, Brian Kidd and Rooney, to score 17 goals or more in a season. It was at Idle's annual invitational tournament, involving youth teams in the local area, that Greenwood was set on a path that would lead to Old Trafford. Having impressed onlooking scouts, including United's, shortly after the tournament he started training at United's development centre in Halifax, Yorkshire, eventually signing for the club aged nine. "I did speak to some scouts at that tournament, I'm sure I spoke to a Man Utd scout but I don't recollect it because there were that many coming up to me then asking about him," adds Newsham."Once he went to Manchester United when he was seven, he couldn't play for us. His dad rung me to say he wasn't allowed to play anymore. I was gutted, but when you go to train with a club like that you can understand why they don't want to play local football."Flourishing under SolskjaerGreenwood's rise has been rapid, but of no surprise to his former coach. Aged 14, United gave him a scholarship. Two years later, he was topping the scoring charts in the Under-18s Premier League (north) and being named player of the tournament at the 2018 International Cor Groenewegen Tournament. He also excelled at age group level for England, helping England's Under-18s win the four-team Limoges tournament. Greenwood in action during the international friendly between England U15 and Turkey U15 at St George's Park on December 21, 2015 in Burton-upon-Trent, England.It was under Jose Mourinho that Greenwood made his senior debut for United, against Club America in Phoenix on a pre-season tour in the summer of 2018, but it is under Solskjaer that he has blossomed, particularly excelling once the EPL resumed in June following a 100-day pause because of the coronavirus pandemic. He is now established in the first team, scoring five times in the last eight games of the season, and returned from lockdown with a noticeably more muscular frame than the teenager who started the season on the substitutes' bench. "That's sometimes something you see with young players, that initially you see them and there's evidence of talent, but then there's a point where they develop that extra, whether it's upper body muscle or that edge of pace, to take them away from someone," British sports journalist Richard Jolly tells CNN Sport. "I guess we'll never know what would have happened without the lockdown, but he does seem to have come back from it stronger and looking ready to play every week."What sets Greenwood apart from most other players is that he is two-footed, a rare skill acquired thanks to his father who would encourage him to practice with both feet. Twenty minutes before the start of training at United's Halifax center, Greenwood would be shooting with both feet at the bins outside the door, so the story goes. His family, who have shied away from media attention, as has the teenager himself, have been key to his rise, with his father taking him to Moss Side, a relatively deprived area of the city, to play five-a-side football to toughen him up.Greenwood celebrates scoring against Bournemouth at Old Trafford on July 4, 2020.Poised in front of goal, he plays as if time slows when he has the ball and has already proven he can score from all sorts of angles and distances. "He's genuinely two-footed with his finishing, he scores a good number of goals from outside the box as well as inside," adds Jolly. "For those who believe in expected goals, Greenwood over-performs his expected goals to a huge extent, showing what a good finisher he is. He's not missing chances at all."Everyone at United probably knows he's here to stay. He is one for the long term and he's much like [Marcus] Rashford, he's one of those who saved them 50 or 100 million pounds."'Massively exciting'There needs to be some perspective, of course. At the same age, World Cup winner Kylian Mbappe was starring in the Champions League and breaking Thierry's Henry Ligue 1 scoring record. Yet, there is no denying that Greenwood is a wondrous talent. Football is a brutal business and Greenwood has already beaten the odds by making it this far -- according to Michael Calvin in his book "No Hunger in Paradise" only 180 of the 1.5 million boys who play organized youth football in England will become a Premier League professional. But throughout his young life, Greenwood has set himself apart from the rest. Kylian Mbappe: The 'phenomenon that breathes and sleeps football'"With Mason Greenwood, we're actually looking at a player that can be anything he wants to be," Mark Goldbridge, presenter for United Stand, tells CNN Sport. "People are talking about him being up there with the likes of Neymar, Mbappe and Messi. I think that's unfair. But at 18 years of age, I remember Wayne Rooney and there are parallels in different ways, in that he's got a talent that senior, experienced Premier League clubs are struggling to shut him down when he's in full flow off both feet."We're really, really excited about what he's going to become at Manchester United."The praise directed at Greenwood these last few weeks has been lavish. Should he continue on an upward trajectory, he may have to become accustomed to it. Additional reporting by CNN's Ben Church

Ben Church, CNN

2020-08-04 07:04:51

sport

football

https://www.cnn.com/2020/08/04/football/manchester-united-bruno-fernandes-europa-league-cmd-spt-intl/index.html

Bruno Fernandes: How one man transformed Manchester United's fortunes - CNN

There hasn't been much to shout about at Manchester United over the last few years.

football, Bruno Fernandes: How one man transformed Manchester United's fortunes - CNN

How Bruno Fernandes transformed Manchester United's fortunes

(CNN)There hasn't been much to shout about at Manchester United over the last few years. The success enjoyed under legendary manager Alex Ferguson feels like a distant memory for a global fan base that has watched its once great club lurch from one bad decision to another. An FA Cup win in 2016 under Louis van Gaal and Europa League glory under Jose Mourinho in 2017 were two of the highlights in what's been an uninspiring period since Ferguson retired in 2013 -- and a far cry from the 38 trophies won by Scot in his 26 years at the club. The future didn't look much brighter back in January. The club, now managed by former player Ole Gunnar Solskjaer, found itself fifth in the league table by New Year.The football was poor, the atmosphere was toxic and star man Paul Pogba, once seen as the saving grace, looked set to leave as soon as he could. Read MoreWhat I learned from watching 92 games of Premier League football in a rowBut, fast forward seven months, and there are now signs of new life under Solskjaer, most notably since the arrival of one Bruno Fernandes. The Portuguese playmaker turned up at Old Trafford from Sporting Lisbon in January and was thrown into a team lacking creativity, quality and leadership. Fortunately for his new employees, it seems Fernandes has all three of those attributes in abundance. Since his debut at the start of the year, United had not lost a game in the league, rising up the table to finish third and qualify for next season's UEFA Champion League for the first time since the 2018-19 season. It was a remarkable feat considering the club started the campaign by making its worst start to a league season in 33 years. What's more, Fernandes brought excitement back to the red half of Manchester after years of uninspiring, and often woeful, performances. His eight league goals and seven assists demonstrate the sort of player United now has on its hands. "He [Fernandes] told me about the league, how intense it is to play in that league," Porto star Danilo Pereira told CNN Sport. "It's not a surprise for me to see the impact he's had in Manchester. I think United can return to their golden years with him and Pogba and other players."READ: Rashford to be awarded honorary doctorate for forcing government U-turnBruno Fernandes had an instant impact on Manchester United. 'A really, really good signing'If such a thing as a typical Manchester United player exists, Fernandes would surely be it. A risk-taker, exciting to watch and able to cope with the extreme pressures of playing at one of the biggest clubs in the world, the attacking midfielder has become an instant hit.He's been a leader from day one; stepping up to take (and score) six penalties during his short spell at the club -- including the pivotal spot-kick against Leicester City which helped United on its way to Champions League football next season. Ex-players and pundits alike have fawned over his performances since he moved to England, where he's won the Man of the Match award in almost every game he's played. "You can see that he's got the talent and he's not scared. He wants the ball, which I would expect from a very good player," former Premier League star and current Monaco player Cesc Fabregas told CNN Sport. "But what I like is that he's intelligent in terms of moving around the pitch. He knows when to get between the lines. He knows when to go in the space when he sees that someone is available to make a chip. He arrives at the second line fantastically. "He supports the midfield when they are building up and struggle a little bit, and when teams are putting a lot of pressure on them. "He can play long, he can play short, little passes. He has the personality to take free-kicks and penalties. He's not scared. He doesn't hide. I think Man United made a really good choice. A really good signing."READ: Meet the Manchester United fanatic opening a 33,000-piece museum in FinlandThe playmaker helped fire the club into next season's UEFA Champions League. Instant impactAdapting to the Premier League is no simple feat. It usually takes players time to get used to the physicality and fast paced nature of the league, but it hasn't been a stumbling block for Fernandes.Although his performances in Portugal gave an indication of what was to come, such an instant impact took many by surprise. "You looked at the player at Sporting Lisbon and clearly he was someone who scored a lot of goals and someone who created a lot of goals, but there's always a challenge as to whether they can translate that to a better league and into a new club," British journalist Richard Jolly told CNN Sport, adding that he saw no realistic way of United finishing in the top four without Fernandes. "But he's been a transformative player and a revelation in terms of how quickly he's done it, I mean it really was from day one."You look at both the goal tallies and the assist tallies, and they're fantastic. If you could maintain that form over the entire season, that's an incredible player there." JUST WATCHEDBlack footballers too 'scared' to look at social media due to racist abuse, says ZahaReplayMore Videos ...MUST WATCHBlack footballers too 'scared' to look at social media due to racist abuse, says Zaha 03:33Pogba improvement Whilst his individual brilliance is evident, Fernandes' arrival has seen the uptick in the form of players around him. The attacking trio of Anthony Martial, Mason Greenwood and Marcus Rashford scored at will after football returned from lockdown (the team has scored 22 goals in its last nine league games), and the likes of Pogba and Nemanja Matic have looked more settled in the midfield. Pogba, in particular, is a different player to one who was seemingly weighed down by the pressure of being the biggest star in the starting lineup.The Frenchman's relationship with the club appeared to reach rock bottom earlier this season, with constant rumors linking the midfielder with a move away from the club. Fans also grew frustrated with Pogba for spending much of the season on the treatment table after suffering two ankle injuries. When they did catch a glimpse of him on the field, he often underwhelmed. But now, since he returned from his latest injury after lockdown, there have been early signs that a partnership with Fernandes could flourish and the World Cup winner suddenly looks more comfortable. "I think Pogba likes to be surrounded by big players and big characters in their own right, I don't think he wants to be the only big name there, and thus have all the pressure lumped on him," Jolly said."I think he probably doesn't want to be in a midfield where he's surrounded by mediocrities. I think you've seen signs already of a bit of chemistry between Pogba and Fernandes which helps, but I think he also just appreciates the element that he's playing with other quality players around him." Paul Pogba has vastly improved since Fernandes joined. The new Cantona? Fernandes had been linked to a move to Old Trafford throughout 2019 and there had been disappointment when the deal wasn't completed in time for the new season. So, when the transfer got over the line in January for an initial $61 million (£47m), fans were ready to see what all the fuss was about. It's safe to say they haven't been disappointed. Mark Goldbridge, a United supporter and presenter of fan channel The United Stand, cannot wait to see how the team develops. "I sort of liken it to what Eric Cantona did when he came to Manchester United from Leeds [in 1992] and we won our first Premier League title," he said. "It was sort of the kick-start for some real success."Now, I'm not saying Bruno Fernandes is going to lead Manchester United to the same level of success that Cantona did but he's not just one player coming in and making us great. "It's one player that's come in and made everybody else around him better." It's easy to forget that Fernandes has only been at the club for a matter of months but he's already established himself as a firm fan favorite -- with one particular moment, in a game against local rivals Manchester City, a defining one of his short time at the club. Fernandes got involved with a sideline feud with Pep Guardiola, resulting in the Portuguese player putting his finger to his lips and shushing the City manager. "I think Bruno, in a very short period of time, has certainly come in and really grasped what Manchester United is all about," said Goldbridge."Ultimately, there's a thin line between grasping what Manchester United is all about and actually just being somebody who loves the game, wants to play the game in the right way, and is passionate to win."I remember his little argument with Pep when we played Man City, and the fans loved that because I think Fernandes just wants to win." READ: Rashford, the gifted Manchester United star who became a remarkable activistFernandes has provided United's front three with more chances. Another false dawn?Whilst United's form dropped for the final two games of the season, fans will be holding on to those encouraging signs of life and hoping this isn't yet another false dawn at the club. The third-place finish, although not befitting of the club's true ambition, must be seen as progress and attention can now turn to winning the Europa League, which is set to resume on August 5. United face a simple task in their second-leg tie against LASK on Wednesday, leading 5-0 from the first leg and all but guaranteed a place in the quarterfinals. Although winning European football's secondary club cup competition is nothing to be smirked at, the real prize is still the Premier League. Despite all the improvements seen at the club in recent weeks, the gulf between it and the likes of Liverpool and Manchester City remains wide -- it finished 33 points behind eventual champion Liverpool this season. A productive summer in the transfer market could be just what United needs, and Borussia Dortmund's Jadon Sancho is just one of the names being linked with a switch to Old Trafford.There had been signs of success during both Van Gaal and Mourinho's time at the club but something does feel different about United under Solskjaer.Maybe a return to its glory days aren't too far away. "It does look more sustainable and one of the things that they're doing is they're not just beating teams but, if you look at that winning run, they've won quite a lot of those games comfortably and quite emphatically, and, quite entertainingly," said Jolly. "I think what you might see next year is not necessarily United winning the league but them getting in the top four a lot more comfortably."

Aleks Klosok, CNN

2020-08-11 08:01:19

sport

football

https://www.cnn.com/2020/08/11/football/neymar-psg-champions-league-brazil-cmd-spt-intl/index.html

PSG: Neymar's moment of reckoning in Champions League - CNN

Neymar's record-breaking $263 million transfer from Barcelona to Paris Saint-Germain in 2017 was intended to herald an era of Champions League domination. Twice the 28-year-old has been deprived of his say in the latter stages of European football's elite club competition. Is this finally his time to seal his legacy and quell the naysayers?

football, PSG: Neymar's moment of reckoning in Champions League - CNN

Why it's now or never in Neymar's quest for European glory

(CNN)When dreams clash with reality; when life reaches a daunting crossroads; when we must decide whether to be or make history.Right now Neymar is at the crossroads.A 21st century football brand fueled by endless promise; a nouveau-riche social, commercial and cultural phenomena; a superstar who's no stranger to the scrutiny of the public eye.'More than a Club?' How FC Barcelona 'lost its soul'Yet when it comes to the bright lights of European football's biggest stage -- the Champions League -- he's trapped in a perpetual cycle of repetition.A one-time winner, yes -- but for some ably assisted by his supremely skilled South American counterparts -- Lionel Messi and Luis Suarez -- in the once famed 'MSN' triumvirate at Barcelona.Read MoreOn two occasions misfortune has conspired to subvert the Brazilian prodigy's chances of grabbing the competition by the scruff of the neck in the red and blue colors of Paris Saint-Germain.So here we are in 2020. Is it third time lucky? Is this Neymar's moment of truth? Three games now stand between the 'Red Pill' of European enlightenment or the 'Blue Pill' of another footnote in the 28-year-old's lengthening Wikipedia page."This is the year that he can really redeem himself [...] These three games can change everything [...] I don't believe he's going to have another opportunity like this one," Brazilian football journalist Fernando Kallás tells CNN Sport.'All or nothing': Neymar's goal helped guide PSG to victory over Borussia Dortmund in the Champions League round of 16 back in March 'Biggest mistake in the history of sports'Since planting their flag in the cobbled Parisians streets in June 2011, PSG's Qatari investors have made no secret of their ultimate goal -- continental supremacy.Domestically it's been an era defined by unrelenting dominance. Seven top-flight league titles and five French cups, including four trebles in six seasons.JUST WATCHEDBuffon on Neymar, PSG and Cristiano RonaldoReplayMore Videos ...MUST WATCHBuffon on Neymar, PSG and Cristiano Ronaldo 02:18But if Europe is a combination lock, they've been interminably searching for the locksmith with the elusive key. Seven times they've tried and failed to crack the complex code -- each failure more painful and bitter than the last."A specific timeline was set and once you get past that timeline each season it goes on it seems like PSG are getting further and further away so there's a weight of history that's bearing down," explains French football expert Jonathan Johnson.The world record signing of Neymar from Barcelona in August 2017 -- for a still mind-bending $263 million -- was intended to deliver that knight in shining armor.No longer the back-up singer to Messi and Suarez but now the leading performer with a license to thrill and become the best in the world.For some it was a game-changer; for Kallás it remains "the biggest mistake in the history of sports."READ: How billionaire owners changed European footballA love-hate relationshipReflecting this past week on the three-year anniversary of his move, the striker wrote that "(these) came with a lot of knowledge. I've lived times of joy and some complicated ones."His bond with supporters in the city of love has undulated its way through the full gamut of Facebook relationship statuses: From 'Married' to 'Separated' to 'It's complicated.'All with the allure of a former lover in Catalonia lingering in the background.A long drawn-out, but ultimately unsuccessful, serenade last summer to woo the Brazilian back to the Camp Nou brought simmering tensions in Paris to the boil.The love-hate dynamic around the polarizing figure was perhaps best encapsulated in the superstar's first league appearance of the 2019-20 season. Relentlessly booed for 90 minutes before delivering a sublime match-winning bicycle kick at the very death -- half the naysayers enraptured; the other half enraged.Kallás paints a picture of jury similarly split down the middle along generational lines in Brazil -- the young pretenders who adore "the image, the smile, the tattoos" contrasted with the old guard who are "really concerned about him."The Cold War in Paris has since thawed, along with the realization that going back to the future is -- for now -- not an imminent prospect."He has shown on the pitch and off it that he's committed to the project [...] He really has to embrace the challenge of being a PSG player and achieving something, notably in the Champions League, in Paris," says Johnson.Whilst a new leaf may have been turned on the pitch, questions remain off it.Ups and downs: The Brazilian's relationship with the PSG faithful has undulated between periods of love and hateWill the boy become a man?Neymar's personal life has -- at times -- borne the hallmarks of a gripping telenovela -- filled with intrigue, and all supported by an ensembled entourage. Last year he was cleared of wrongdoing after a Brazilian model accused the former Brazil captain of rape and assault.This year he was forced to miss a league match through injury -- two days after hosting a lavish birthday party in a Paris nightclub.Those willing him on to succeed despair: Will the boy ever become a man? "In Brazil we have an expression that says that he (Neymar) is an endless promise [...] That he is "Menino Neymar" ("Baby Neymar") -- He's not a boy [...] He needs to be in reality [...] He has to grow up," says Kallás, who has followed the Brazilian's trials and tribulations on and off the pitch."When he's on the pitch he delivers [...] I have never, never heard one complaint from a coach or another player about his attitude in training, in the locker-room."JUST WATCHEDCOPA90: Retro games with NeymarReplayMore Videos ...MUST WATCHCOPA90: Retro games with Neymar 03:12And for all the goals, assists and silverware to date, history and biology have dealt the twinkle-toed star a cruel hand -- starving him of the opportunity to have his say at the business end of European football's elite club competition.Curtailed seasons in 2018 and 2019 due to injuries coincided with dramatic exists for PSG from the round of 16 stage at the hands of Real Madrid and Manchester United, respectively."That's what makes the remainder of this campaign so important and why he'll be under such close scrutiny," says Johnson."It's make or break"The Covid-19 pandemic has significantly -- and perhaps favorably for PSG -- changed the dynamic for the finale of this year's tournament.Gone are the two-legged knockout affairs from the quarterfinal stages onwards, replaced instead by single-leg shoot outs -- all within the bubble of Lisbon.Without the departed sharpshooter Edinson Cavani and the recently sidelined Kylian Mbappé, the floor is Neymar's.First the surprise package of Atalanta awaits in the quarterfinals; Then a potential clash with the battle hardened Atlético Madrid in the semifinals and, after that, who knows in a winner-takes-all final."We always say 'This is going to be the year. No -- This is going to be the year. No -- This is going to be the year' [...] It's his last chance."Whilst progress in the competition would -- according to Johnson -- "really give the (Qatari) project the shot in the arm that it's needed after a few years of massive disappointment," for Kallás, this month could be the beginning of a career defining two years for the individual at the heart of the narrative.With the Brazilian's contract set to expire in 2022 and a World Cup in Qatar that same year, which is likely to be his last in a Brazil jersey, it's quite simply "make or break.""We always say 'This is going to be the year. No -- This is going to be the year. No -- This is going to be the year' [...] He's 28-years-old, he should be in the peak of his career but he's not [...] It's his last chance."The telenovela has had its unforeseen plot twists, its moments of madness and its bursts of brilliance. Now it's in the hands of its lead protagonist to script its showpiece ending.