“That would certainly put some downward pricing pressure on local growers,” he said.

And as Canada’s industry is forced to consolidate to survive, some worry about who will lose out as large, publicly traded companies come to dominate the space.

Long before legalization, many of the first shops to defy Canadian marijuana laws were nonprofit “compassion clubs” selling to people who used cannabis for medicinal purposes.

The current system’s emphasis on large corporate growers and profits has squeezed many people from minority communities out of the business, said Dr. Daniel Werb, an epidemiologist and drug policy analyst at St. Michael’s Hospital in Toronto. Dr. Werb is part of a research group whose preliminary findings have shown that “there is a marked lack of diversity” in the leadership of the new, legal suppliers, he said.

Sellers in Indigenous communities, too, have been left in limbo, generally not subjected to police raids but also outside the legal system, although Ontario has began licensing shops in some of those communities.

“I get more and more concerned about, on the one hand, the lack of ethno-racial diversity and, on the other hand, a lack of imagination around the fact that this didn’t have to be a wholly for-profit industry,” Dr. Werb said. “It seems like there was a missed opportunity to think creatively.”

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Swiss Billionaire Is Said to End His Bid for Tribune Publishing

The Swiss billionaire Hansjörg Wyss, who seemingly came out of nowhere last month to make a serious offer for Tribune Publishing, a major newspaper chain, has decided to take himself out of the bidding, according to three people with knowledge of the matter.

Two of the people said the decision came about in recent days, after Mr. Wyss’s associates examined the Tribune’s finances as part of a due diligence process.

The two people added that Mr. Wyss had come to believe it would be difficult for him to realize his ambition of transforming The Chicago Tribune — the company’s flagship paper and the one he was most interested in — into a national publication. The three people with knowledge of the matter spoke on the condition of anonymity because they were not authorized to discuss the deal publicly.

Mr. Wyss, who made his fortune as a medical device manufacturer, had joined the Maryland hotel executive Stewart Bainum Jr. in a bid that seemed as if it had a chance of preventing Tribune from becoming fully owned by its largest shareholder, the New York hedge fund Alden Global Capital.

Credit…The Wyss Foundation and Oceana

In late March, Mr. Wyss and Mr. Bainum had put together an offer of $18.50 a share, which valued the chain at $680 million. It came more than a month after Tribune had reached a nonbinding agreement to sell itself to Alden at $17.25 a share. On April 5, Tribune Publishing said that its special committee had determined that the bid from Mr. Wyss and Mr. Bainum would be reasonably expected to lead to a “superior proposal,” when compared with the Alden bid.

Because Alden is known for slashing costs at the roughly 60 daily newspapers it controls through its MediaNews Group subsidiary, journalists at Tribune publications cheered the surprise entry of Mr. Wyss and Mr. Bainum into the bidding.

Mr. Wyss and Mr. Bainum declined to comment. Tribune’s special committee also declined to comment.

Mr. Bainum, who had taken a special interest in another Tribune paper, The Baltimore Sun, remains committed to pursuing ownership of Tribune Publishing. With Mr. Wyss no longer at his side, he is seeking new financing, the three people said. Mr. Bainum told the Tribune’s special committee of Mr. Wyss’s departure on Friday, two of the people said, and confirmed his exit from the deal in writing on Saturday.

Mr. Wyss, who was born in Bern, Switzerland, and has a home in Wyoming, first visited the United States as an exchange student in 1958 and worked as a journalist as a young man. A decade ago, as the chief executive of the Swiss-based medical device maker Synthes, he oversaw its sale to Johnson & Johnson for roughly $20 billion.

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The Covid-19 Plasma Boom Is Over. What Did We Learn From It?

Scott Cohen was on a ventilator struggling for his life with Covid-19 last April when his brothers pleaded with Plainview Hospital on Long Island to infuse him with the blood plasma of a recovered patient.

The experimental treatment was hard to get but was gaining attention at a time when doctors had little else. After an online petition drew 18,000 signatures, the hospital gave Mr. Cohen, a retired Nassau County medic, an infusion of the pale yellow stuff that some called “liquid gold.”

In those terrifying early months of the pandemic, the idea that antibody-rich plasma could save lives took on a life of its own before there was evidence that it worked. The Trump administration, buoyed by proponents at elite medical institutions, seized on plasma as a good-news story at a time when there weren’t many others. It awarded more than $800 million to entities involved in its collection and administration, and put Dr. Anthony S. Fauci’s face on billboards promoting the treatment.

A coalition of companies and nonprofit groups, including the Mayo Clinic, Red Cross and Microsoft, mobilized to urge donations from people who had recovered from Covid-19, enlisting celebrities like Samuel L. Jackson and Dwayne Johnson, the actor known as the Rock. Volunteers, some dressed in superhero capes, showed up to blood banks in droves.

took a long time to measure its effectiveness. Eventually, studies did emerge to suggest that under the right conditions, plasma might help. But enough evidence has now accumulated to show that the country’s broad, costly plasma campaign had little effect, especially in people whose disease was advanced enough to land them in the hospital.

N.I.H. recently halted an outpatient trial of plasma because of a lack of benefit.

Doctors have used the antibodies of recovered patients as treatments for more than a century, for diseases including diphtheria, the 1918 flu and Ebola.

So when patients began falling ill with the new coronavirus last year, doctors around the world turned to the old standby.

In the United States, two hospitals — Mount Sinai in New York City and Houston Methodist in Texas — administered the first plasma units to Covid-19 patients within hours of each other on March 28.

Dr. Nicole M. Bouvier, an infectious-disease doctor who helped set up Mount Sinai’s plasma program, said the hospital had tried the experimental treatment because blood transfusions carry a relatively low risk of harm. With a new virus spreading quickly, and no approved treatments, “nature is a much better manufacturer than we are,” she said.

As Mount Sinai prepared to infuse patients with plasma, Diana Berrent, a photographer, was recovering from Covid-19 at her home in Port Washington, N.Y. Friends began sending her Mount Sinai’s call for donors.

thousands of Orthodox Jewish people were getting tested for coronavirus antibodies and showing up to donate. Coordinating it all was exhausting.

“April,” Mr. Lebovits recalled with a laugh, “was like 20 decades.”

Two developments that month further accelerated plasma’s use. With the help of $66 million in federal funding, the F.D.A. tapped the Mayo Clinic to run an expanded access program for hospitals across the country. And the government agreed to cover the administrative costs of collecting plasma, signing deals with the American Red Cross and America’s Blood Centers.

news releases announcing those deals got none of the flashy media attention that the billion-dollar contracts for Covid-19 vaccines did when they arrived later in the summer. And the government did not disclose how much it would be investing.

American Red Cross and America’s Blood Centers since last April.

“The convalescent plasma program was intended to meet an urgent need for a potential therapy early in the pandemic,” a health department spokeswoman said in a statement. “When these contracts began, treatments weren’t available for hospitalized Covid-19 patients.”

As spring turned to summer, the Trump administration seized on plasma — as it had with the unproven drug hydroxychloroquine — as a promising solution. In July, the administration announced an $8 million advertising campaign “imploring Americans to donate their plasma and help save lives.” The blitz included promotional radio spots and billboards featuring Dr. Fauci and Dr. Hahn, the F.D.A. commissioner.

provided access to its advertising agency, which created the look and feel for the Fight Is In Us campaign, which included video testimonials from celebrities.

although he later corrected his remarks following criticism from the scientific community.

the Infectious Diseases Society of America recommended that plasma not be used in hospitalized patients outside of a clinical trial. (On Wednesday, the society restricted its advice further, saying plasma should not be used at all in hospitalized patients.) In January, a highly anticipated trial in Britain was halted early because there was not strong evidence of a benefit in hospitalized patients.

narrowed the authorization for plasma so that it applied only to people who were early in the course of their disease or who couldn’t make their own antibodies.

Dr. Marks, the F.D.A. regulator, said that in retrospect, scientists had been too slow to adapt to those recommendations. They had known from previous disease outbreaks that plasma treatment is likely to work best when given early, and when it contained high levels of antibodies, he said.

“Somehow we didn’t really take that as seriously as perhaps we should have,” he said. “If there was a lesson in this, it’s that history actually can teach you something.”

pandemic exceptionalism” — had drained valuable time and attention from discovering other treatments.

“Pandemic exceptionalism is something we learned from prior emergencies that leads to serious unintended consequences,” she said, referring to the ways countries leaned on inadequate studies during the Ebola outbreak. With plasma, she said, “the agency forgot lessons from past emergencies.”

While scant evidence shows that plasma will help curb the pandemic, a dedicated clutch of researchers at prominent medical institutions continue to focus on the narrow circumstances in which it might work.

Dr. Arturo Casadevall, an immunologist at Johns Hopkins University, said many of the trials had not succeeded because they tested plasma on very sick patients. “If they’re treated early, the results of the trials are all consistent,” he said.

found that giving plasma early to older people reduced the progression of Covid-19. And an analysis of the Mayo Clinic program found that patients who were given plasma with a high concentration of antibodies fared better than those who did not receive the treatment. Still, in March, the N.I.H. halted a trial of plasma in people who were not yet severely ill with Covid-19 because the agency said it was unlikely to help.

With most of the medical community acknowledging plasma’s limited benefit, even the Fight Is In Us has begun to shift its focus. For months, a “clinical research” page about convalescent plasma was dominated by favorable studies and news releases, omitting major articles concluding that plasma showed little benefit.

the website has been redesigned to more broadly promote not only plasma, but also testing, vaccines and other treatments like monoclonal antibodies, which are synthesized in a lab and thought to be a more potent version of plasma. Its clinical research page also includes more negative studies about plasma.

Nevertheless, the Fight Is In Us is still running Facebook ads, paid for by the federal government, telling Covid-19 survivors that “There’s a hero inside you” and “Keep up the fight.” The ads urge them to donate their plasma, even though most blood banks have stopped collecting it.

Two of plasma’s early boosters, Mr. Lebovits and Ms. Berrent, have also turned their attention to monoclonal antibodies. As he had done with plasma last spring, Mr. Lebovits helped increase acceptance of monoclonals in the Orthodox Jewish community, setting up an informational hotline, running ads in Orthodox newspapers, and creating rapid testing sites that doubled as infusion centers. Coordinating with federal officials, Mr. Lebovits has since shared his strategies with leaders in the Hispanic community in El Paso and San Diego.

And Ms. Berrent has been working with a division of the insurer UnitedHealth to match the right patients — people with underlying health conditions or who are over 65 — to that treatment.

“I’m a believer in plasma for a lot of substantive reasons, but if word came back tomorrow that jelly beans worked better, we’d be promoting jelly beans,” she said. “We are here to save lives.”’

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Why Amazon Workers Sided With the Company Over a Union

When Graham Brooks received his ballot in early February, asking whether he wanted to form a union at the Amazon warehouse in Alabama where he works, he did not hesitate. He marked the NO box, and mailed the ballot in.

After almost six years of working as a reporter at nearby newspapers, Mr. Brooks, 29, makes about $1.55 more an hour at Amazon, and is optimistic he can move up.

“I personally didn’t see the need for a union,” he said. “If I was being treated differently, I may have voted differently.”

Mr. Brooks is one of almost 1,800 employees who handed Amazon a runaway victory in the company’s hardest-fought battle to keep unions out of its warehouses. The result — announced last week, with 738 workers voting to form a union — dealt a crushing blow to labor and Democrats when conditions appeared ripe for them to make advances.

annual letter to investors that the outcome in Bessemer did not bring him “comfort.”

“It’s clear to me that we need a better vision for how we create value for employees — a vision for their success,” he wrote.

Michael Corkery contributed reporting.

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Looking Back at the First Roaring Twenties

We are in a second Roaring Twenties, or so you might think, from the countless comments suggesting that we are entering an exuberant decade that echoes the one of a century ago.

The 1920s were marked by frenetic celebration, amazing stock market returns — and, ultimately, one of the worst crashes and most devastating depressions in modern history.

A century is a long time, and the original Roaring Twenties have become something of a lost world, glimpsed through legend, movies and pop fantasy.

It’s worth looking back more closely. History doesn’t provide a clear guide to the future — many economists avoid studying it, preferring instead to dwell on mathematical models, the latest changes in fiscal and monetary policy and statistically significant leading indicators.

Alexander Dana Noyes wrote both of “the most reckless stock speculation” and of a series of “exceedingly favorable” factors protecting the economy: a “sound banking system,” “expanding production and consumption,” “large profits,” “stability of prices,” “conservative methods of trade,” “labor’s high wages” and “increasing exports.”

As stocks rose, people who had little knowledge of the market blithely bought shares for the first time, as Eunice Fuller Barnard described in “Ladies of the Ticker,” a firsthand account in April 1929.

Recently, there has been a parallel rise in trades by inexperienced retail investors.

Early in the 1920s, people played the market as a grand game, abetted by technological innovation and new mass media.

In 1923 the Trans-Lux company came out with the “movie ticker” — a large illuminated screen showing rapidly changing stock prices. For the first time, a crowd at a retail brokerage could watch together as a facsimile of the stock ticker tape whizzed by in bright light.

And they heard about the stock market on the radio, the hot new technology of that era. Westinghouse, in Pittsburgh, created one of the world’s first commercial radio stations, KDKA, which broadcast Warren G. Harding’s victory in the presidential election on Nov. 2, 1920. Sports events, comedy shows and stock market reports soon followed, and radio stations spread throughout the United States and the world.

The world entered homes electronically, giving people an immediate sense of the possibility of new technologies and access to a global narrative about financial success.

What is startling, in retrospect, is that while there was plenty of discussion of the brave new horizons for investing in the 1920s, there was very little skeptical scrutiny of the underpinnings of the markets available in mass media, at least at first.

CAPE, which enables us to say stock prices today are quite high on a historical basis.

But my research suggests that in the early 1920s, scarcely anyone, outside of investment professionals, knew what a price-earnings ratio was. There was not a single use of the phrase in the ProQuest News & Newspapers database before 1928.

This inattention shifted in the months before the October 1929 crash. In May 1929, for example, The New York Herald Tribune published “Price-Earnings Ratio Ignored by Traders in Present Market.”

It was a sign of worry. Suddenly, many people became aware that this important measure was at record highs, indicating that prices were difficult to justify. The article helped to spread a pessimistic narrative about the stock market that began to dominate discourse.

“The purchaser of securities on tips, who gives no thought or study to intrinsic values, must suffer the consequences of his own lack of reasonable care in conserving his resources,” the article said.

As the crash approached, newspapers reported that many people had taken excessive loans from brokers, noting that the severity of a market decline could be amplified when brokers made “margin calls,” requiring repayment of those loans.

As early as March 1928, an article in The Times said there was a widespread “uncomfortable feeling” about the “unpleasant possibilities” for the still roaring stock market. Such a feeling exists today, though perhaps not in as severe a form.

the risk of excessive speculation. Yet the Standard & Poor’s Composite Index rose 29 percent from Jan. 1 to Sept. 8 that year. (The increase in the S&P 500 from March 23, 2020, to Thursday, at 86 percent, is even larger.)

In 1929, the warnings only heightened public attention to the market.

In February 1929, the singer Eddie Cantor had a hit pop song about the dangers of living. Its title was a form of baby talk: “I Faw Down an’ Go Boom!” The lyrics included this: “I got a tip to buy some stocks, lost my shirt, lost my socks. The minute that I buy some stocks, they faw down an’ go boom.”

An article by Joseph Dineen in The Boston Globe on Feb. 10, 1929, said the song had gone viral: “‘I faw down and go boom.’ Did you ever hear anything sillier, more ridiculous and inane in your life? This wisecrack is positively cuckoo, a snatch of baby talk which has swept the country, used every day in every way by broad-shouldered huskies and lithesome lounge lizards as the last word in high-powered repartee. Every broadcasting station tossed it off into the air at least once a night.”

The song, and others like it, helped to prime people into thinking about the possibility of a crash.

Are there similarities today? Certainly. The current widespread fascination with the rising market accompanied by recent concern about a possible downward spiral and strained stock market valuations echo those of 100 years ago.

That said, there is no particular reason to expect a market collapse that would be as bad as the 1929 crash, and the government and the Fed have shown themselves to be far more adept in staving off prolonged recessions than their predecessors. But we shouldn’t be surprised if uncomfortable feelings about the market grow to unmanageable proportions, leading eventually to a major stock market decline.

Robert J. Shiller is Sterling professor of economics at Yale.


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CBS News names two to replace outgoing president.

Two years ago, CBS picked the ultimate insider to run its broadcast news division: Susan Zirinsky, whose decades-long tenure at the network stretched to the days of Walter Cronkite.

Now the network is turning to a pair of outsiders — one from the world of newspapers and digital publishing — to restore the fortunes of a news division that still trails its rivals at ABC and NBC.

CBS said on Thursday that Ms. Zirinsky would be succeeded by Neeraj Khemlani, a vice president at the publishing powerhouse Hearst and a relatively little-known figure in the TV news industry, and Wendy McMahon, a former ABC executive. The two will serve as presidents and co-heads of a CBS News division that will also include local stations owned by the network.

In the gossipy world of TV news, neither executive had been rumored to be a candidate for the top CBS role. Mr. Khemlani worked at CBS News from 1998 to 2006 as a producer at its “60 Minutes” franchise, but he left television to work at the news arm of the web giant Yahoo before going to Hearst in 2009.

announcing the hires.

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Key Chains and Teddy Bears in Riot Gear: Hong Kong Promotes National Security

HONG KONG — Teddy bears clad in black police riot gear, on sale for more than $60 apiece. Messages of gratitude to the authorities, pasted by children onto the walls of their schools. Uniformed police officers goose-stepping in formation, accompanied by a counterterrorism drill complete with a helicopter and hostage simulation.

This is National Security Education Day in Hong Kong, the first since the central Chinese government imposed a wide-ranging security law on the territory last year.

The law, a response to months of fierce and sometimes violent antigovernment protests that began in 2019, has become synonymous with the authorities’ efforts to clamp down on dissent and ensure staunch loyalty. And the panoply of activities on Thursday indicated how they plan to do so: with a mixture of cutesy cajolery and overt shows of force, for a law that an official once said should hang over Hong Kongers like a “sword of Damocles.”

“Any ‘hard resistance’ that undermines national security will be struck down by the law. Any ‘soft resistance’ will be regulated by the law,” Luo Huining, the central government’s top official in Hong Kong, said at a ceremony kicking off the day’s events.

arrest around 100 people, gut the political opposition and remake Hong Kong’s electoral system.

frequently deployed in 2019.

show of goose-stepping. Traditionally, many of the disciplined services in Hong Kong, a British colony until it was returned to Chinese rule in 1997, had marched in the British style. But the Chinese Army is known for the distinctive goose-step, in which the leg does not bend at the knee.

“After enjoying this wonderful performance,” an official website for National Security Education Day promised, viewers would be led inside to view armored vehicles, the explosives disposal team and recruitment information.

riot-gear-clad teddy bear, a pair of zip ties strapped to its chest ($62); key chains engraved with crowd-control phrases like “Disperse or we fire” and “Warning: Tear smoke” ($4 each); and a set of 18 three-inch figurines, clutching rifles and shields and bearing police warning flags about illegal assembly (“festive special offer”: $114).

It seemed unlikely that any sort of protest would break out in such a heavily fortified location. Still, officials seemed eager to forestall even a hint of the so-called soft resistance Mr. Luo had singled out in his speech. As journalists waited to enter the open house, security officers asked some who were wearing yellow or black face masks — colors associated with the pro-democracy movement — to swap them for blue ones the authorities provided.

four pro-democracy activists tried to march through parts of downtown, bearing a poster that said “Without democracy and human rights, there is no national security.” They were followed by dozens of police officers.

In other parts of the city, schoolchildren — including those in kindergarten — were enlisted in the promotion of national security. Education has been a particular focus for the authorities, who have blamed what they call biased curriculums for turning Hong Kong’s youth against the government.

On Thursday morning, many schools hosted ceremonies to raise China’s national flag and sing the national anthem (which the Hong Kong government last year made a crime to disrespect).

At the Wong Cho Bau middle school, which is run by a pro-Beijing teachers’ union, the principal told students during a morning assembly that national security should be incorporated into every part of their curriculum, including geography and biology classes, as well as weekly flag-raising ceremonies.

“These daily accumulations can help us construct our own national concept and identity, so as to achieve prosperity and glory for the country,” said the principal, Hui Chun-lung. “So everybody should study hard. If the youth are strong, then China is strong.”

Afterward, school officials showed off colorful slips of paper that students had filled out and pasted onto a “community mosaic wall.” “Please express your opinion toward the idea of ‘Support national security, guard our home,’” the prompt said.

In response, the students expressed their gratitude to the government and their relief that the pro-democracy protests had subsided. “Those people who protest everywhere are intolerable, destroying public places and hurting our home,” one student wrote.

Other students’ responses were even more effusive.

“I think the idea of supporting national security and guarding our home is extremely without problems! Support! Support! Extremely support!” one student wrote. “Whatever the national security law says, goes! I very much have no opinion!”

Joy Dong contributed research.

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John Naisbitt, Business Guru and Author of ‘Megatrends,’ Dies at 92

His marriage to Ms. Senior ended in divorce, as did his second, to Patricia Aburdene. Along with his daughter, he is survived by his third wife, Doris (Dinklage) Naisbitt; his sons James, David and John; another daughter, Nana Naisbitt; a stepdaughter, Nora Rosenblatt; 11 grandchildren and two step-grandchildren.

Mr. Naisbitt ran out of money after only two semesters, and with his first child on the way he dropped out of college to take a job writing speeches for executives at Eastman Kodak, in Rochester, N.Y.

He and his family moved to Chicago in 1957, where he worked in public relations jobs. He worked in Washington between 1963 and 1966, first as an assistant to the director of the National Education Commission, then as an assistant to the secretary of health, education and welfare.

It was during an assignment to assess the impact of various Great Society programs under President Lyndon B. Johnson, he said, that he first developed his method of trend analysis. A fan of American history, he had been reading books about the Civil War by Bruce Catton, who had relied heavily on contemporary newspapers to get a sense of the country’s mood during the war.

“I went out to a newsstand and I bought about 50 out-of-town newspapers,” he told The Christian Science Monitor in 1982. “And I was absolutely stunned what I learned in three hours about what was going on in America.”

He called it “content analysis,” and after he returned to Chicago, he put it into practice with his first firm, the Urban Research Corporation. Long before computers made such work nearly instantaneous, Mr. Naisbitt employed a small army of analysts to read through scores of newspapers a day, clipping stories about urban protests, crime and campus unrest, which he drew on to write reports for nonprofit and corporate clients.

With his first marriage ending and his company losing money, he moved back to Washington in the mid-1970s and opened another, similar firm. It also failed, leading him to file for personal bankruptcy in 1977.

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The Israel Prize Is Meant to Unify. More Often, It’s Mired in Controversy.

Michael Sfard, an Israeli human rights lawyer who represents Professor Goldreich, said that even if his client did support B.D.S., such support should not disqualify him from receiving the Israel Prize.

“Now, to prove that someone called for a boycott, you need to scrutinize his writings and signatures, driving us straight toward a McCarthyist process,” Mr. Sfard said, referring to the 1940s and 1950s in the United States, when leftists were regularly accused of subversion and treason. “This is an attempt to exclude a whole political camp in Israel.”

Professor Goldreich missed this year’s ceremony, which was recorded on Sunday for broadcast on Thursday. The judges said that should he be approved, he could receive the award at next year’s ceremony, if not before.

Mr. Gallant, the education minister, appeared emboldened by the court decision.

“Prof. Goldreich may be a brilliant scientist, but his support for the boycott movement and his call to boycott Ariel University is a spit in the face of the state of Israel and of Israeli academia and is possibly even a violation of the law,” he wrote on Twitter. He added that he would use the time to investigate whether the professor’s “current renunciation” of the boycott movement was genuine.

Mr. Gallant’s staff declined requests for comment.

“I view this (unlawful) behavior of the minister as a small step in the process of pushing the left in Israel outside the limits of legitimacy, a process that has been going on for decades now and has been intensified in the last years,” Professor Goldreich said in an emailed comment. “I am happy to play a role in the struggle to block this delegitimization process and the attempt to reverse it.”

The professor’s colleagues and supporters held an alternative award ceremony for him at Weizmann Institute this week, where he referred to the award as the “Likud Prize.”

“I think that the Likud and the state of Israel are two different things,” he said.

The Weizmann Institute took out ads in the Hebrew newspapers on Wednesday congratulating Professor Goldreich and saying that, as far as they were concerned, he had won the prize.

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Swiss Billionaire Is a Top Bidder for the Tribune Newspapers

Mr. Wyss, who has pledged to donate half his money to charity, has given hundreds of millions to environmental and conservation causes. Through his foundations, he has gradually increased his donations to groups that promote abortion rights, minimum wage increases and other progressive causes.

He became a member of the Democracy Alliance, a club of liberal donors, as well as the board of the Center for American Progress, a Washington think tank that got its start with support from Democracy Alliance donors. The think tank and its sister political group have received more than $6.1 million from foundations linked to Mr. Wyss, according to tax filings.

Mr. Podesta, the founder of the Center for American Progress, has also advised the Wyss Foundation, including on the hiring of The Hub Project’s executive director, Arkadi Gerney, a former official at the Center for American Progress, according to people with knowledge of the arrangement.

The Hub Project came out of the idea that Democrats should be more effective in conveying their arguments through the news media and directly to voters. Its business plan, a 21-page document prepared for the Wyss Foundation in 2015, recommended that the group “be solely funded by the Wyss Foundation at the outset” and that it would work behind the scenes to “dramatically shift the public debate and policy positions of core decision makers.” The plan added that The Hub Project “is not intended to be the public face of campaigns.”

The Hub Project is part of an opaque network managed by a Washington consulting firm, Arabella Advisors, that has funneled hundreds of millions of dollars through a daisy chain of groups supporting Democrats and progressive causes. The system of political financing, which often obscures the identities of donors, is known as dark money, and Arabella’s network is a leading vehicle for it on the left.

The Arabella network has similarities to the operation created by the Kochs. Democrats have long criticized the Kochs and others who have engaged in the hard-to-track political spending unleashed in part by the Supreme Court’s decision in the 2010 Citizens United case.

The Arabella network’s money flows through four nonprofits that serve as parent structures for a range of groups, including The Hub Project. The nonprofits then pass some of the funds along to other nonprofit groups or super PACs.

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