STRALSUND, Germany — Only days before Germans cast their ballots for a new Parliament and with it a new government and leader, Chancellor Angela Merkel was on the campaign trail this week — further proof that her conservatives are in a perilous position.
Ms. Merkel, of course, is no longer a candidate. She is stepping down and had hoped to stay away from the race. But instead she spent Tuesday in her own district stumping for the struggling candidate for her Christian Democratic Union, Armin Laschet. She even quipped about her smaller-than-average shoe size, hoping to convince voters that those shoes are best filled by Mr. Laschet.
The Green party, the unexpected early leaders in the race, are in third place at the moment.
The Social Democrats are running one of their strongest election campaign in years, marked by clear messaging on progressive issues from increasing the minimum wage to creating more affordable housing. And their front-runner candidate, Olaf Scholz, has been selling himself as the best fit for Ms. Merkel’s shoes.
shot and killed a 20-year-old gas station attendant who refused the man service because he did not wear a mask.
Speaking to the several hundred people who had gathered late Tuesday on the wet cobblestones of the Old Market Square in this city on the Baltic Sea coast, which Ms. Merkel has represented since 1990, Mr. Laschet honored the victim, then chided the several dozen anti-vaccine demonstrators who had shown up to protest the government with shouts and whistles.
“We do not want this violence,” he said. But neither his condemnation nor his pledge to increase security elicited much applause. He also didn’t manage to silence the noise beyond the barriers.
The rally was meant to shore up support for Mr. Laschet, but for townspeople and tourists alike, it turned into an opportunity to catch a last glimpse of the woman whose outsize role in their country and in Europe has influenced their lives since November 2005.
Christine Braun, a member of the Christian Democrats in Stralsund, said that Mr. Laschet would be getting her vote, but he was not the reason she was standing in the driving rain on a chilly September night.
“I came to honor Ms. Merkel, our chancellor and representative,” she said, adding that throughout her 30 years representing the constituency, Ms. Merkel would visit regularly, attending meetings and engaging with the community. “She remained approachable and down-to-earth.”
Vilana Cassing and Tim Taugnitz, both students in their early 20s, were vacationing in Stralsund and saw the posters advertising the event and Ms. Merkel’s attendance. They decided to attend more out of curiosity to see the woman who had shaped their lives than out of political interest.
They described their political leanings as “leftist-Green,” saying they would vote on Sunday, but not for Mr. Laschet.
“I think it is good if the Christian Democrats go into opposition,” Mr. Taugnitz said.
That could happen. On Sunday, voters will go to the polls, though many may have already done so, with the pandemic resulting in an unusually high number of requests for mail-in ballots — a form of voting that has been around in Germany since 1957 and that organizers assure is safe.
Should the Social Democrats emerge as the strongest party, they would still need to find at least one partner to form a government. While that means that the roles could be reversed, with the Christian Democrats as the junior partners under Mr. Scholz, more likely is a center-left alliance led by the Social Democrats together with the Greens and the business friendly Free Democrats.
Mr. Laschet has been warning against the threat posed by such an alliance, seeking to paint the other parties as a danger to the prosperity that Germans have enjoyed under Ms. Merkel.
“It’s completely wrong what the S.P.D. and the Left and the Greens are planning,” Mr. Laschet told the crowd on Tuesday, referring to pledges to increase taxes on the country’s highest earners. “They should invest and create jobs.”
Ms. Merkel instead sought to praise Mr. Laschet and Georg Günther, who hopes to win the seat in Parliament that she is vacating after 30 years, for their achievements. She expressed confidence that both men would continue the course that she had set and urged her supporters to back them.
“Several times today I have reported my shoe size,” Ms. Merkel told the crowd in Stralsund. Nodding to Mr. Günther and smiling, she said that he could “manage” to fill her shoes — European size 38, or U.S. 7 and a half. Then she turned to Mr. Laschet and added, “he is the one who can do it,” at the chancellery.
Listening from the sidelines, Thilo Haberstroh, a native of the southwestern city of Karlsruhe who was in Stralsund on business and only happened on the rally by chance, said he wasn’t convinced that anyone in the running had what it takes to be the next chancellor of Germany.
“This was interesting, but none of them have really made an impression on me,” he said. “I still don’t know who I will get my vote on Sunday.”
TRAPPES, France — It all began when a high-school teacher warned that Islamists had taken over the city. The teacher went on TV, issuing alarms from inside what he called a “lost city” of the French Republic. In Trappes, he said, he feared for his life.
“Trappes, it’s finished,” the teacher said. “They’ve won.”
The mayor, a strong believer in the Republic, saw the teacher on television and didn’t recognize the city he described. He knew his city, west of Paris and with a growing population of immigrants and Muslims, had problems but thought it was being falsely maligned. The mayor also happened to be a Muslim.
“The truth doesn’t matter anymore,” he said.
For a few weeks this winter, the fight pitting the mayor, Ali Rabeh, 36, against the teacher, Didier Lemaire, 55, became a media storm that, beneath the noise and accusations, boiled down to a single, angry question that runs through the culture wars rippling through France: Can Islam be compatible with the principles of the French Republic?
Lupin.” But Trappes also saw about 70 of its youths leave for jihad to Syria and Iraq, the largest contingent, per capita, from any French city.
article about Mr. Lemaire, who said he was quitting because of Islamists.
Within a few hours, a conservative politician eyeing the presidency tweeted her support for Mr. Lemaire and “all those hussars on the front line in the fight for the Republic.” Next, the far-right leader, Marine Le Pen, attacked “certain elected officials” for failing to protect the teacher from Islamists.
That the words of a virtually unknown teacher resonated so much was a sign of the times. A few months earlier, an extremist had beheaded a middle-school teacher for showing caricatures of the Prophet Muhammad in a class on free speech. President Emmanuel Macron was now pushing a bill to fight Islamism even as he pledged to nurture an “Islam of France.”
Mr. Lemaire’s words also resonated because of the outsized role in France of public schoolteachers, who are responsible for inculcating in the young the nation’s political values and culture. In the Republic’s mythology, teachers are the “hussars” — the light cavalry once used for scouting by European armies — fighting to preserve the nation’s sanctity.
In the article, Mr. Lemaire said he had been under police escort for months. Trappes’s mayor, he said, had called him an “Islamophobe and racist.” He said he was waiting for an “exfiltration” from deep inside “a city lost for good.”
Overnight, the soft-spoken, longhaired teacher, who said he preferred curling up with Seneca than going on Facebook, was issuing dire warnings on top television news shows.
“We have six months to a year,” he said, “because all these youths who are educated with the idea that the French are their enemies, they’ll take action one day.”
Mr. Lemaire arrived in Trappes, a banlieue, or suburb, in the outer orbit of Paris, two decades earlier. Once a village that grew around a millennium-old Roman Catholic parish, Trappes is now a city of 32,000.
Mr. Lemaire’s high school, La Plaine-de-Neauphle, stands at the heart of an area built to accommodate immigrant workers from France’s former colonies in the 1970s — a mixture of rent-subsidized high-rises, attractive five-story residences and a constellation of parks. The mosque is nearby. So is a market where vendors offer delicacies from sub-Saharan Africa and halal products.
Parti républicain solidariste, which espouses a hard line on France’s version of secularism, called laïcité. He now favors taking girls away from their parents, after a second warning, if the children violate laïcité rules by putting on Muslim veils during school field trips.
“We have to protect children from this manipulation,” of being used “as soldiers or as ideologues,” he said.
‘I See Myself In Them’
remarks to the newspaper Le Monde, the local préfet, the top civil servant representing the central government, praised Mr. Rabeh’s administration for its “total cooperation” in combating Islamism. The préfet also refuted the teacher’s claim to having been under a police escort.
The teacher’s story began wobbling. He admitted to the French news media, as he did to The Times, that he had “not received explicit death threats.” He had also accused the mayor of calling him a “racist and Islamophobe” in an interview with a Dutch television network.
But the network denied the mayor had said any such thing.
‘France Really Doesn’t Like Us’
letter to the students at the teacher’s high school.
“Don’t let anybody ever tell you that you’re worth nothing and that you’re lost to the Republic,” he wrote.
debate was scheduled that evening between Ms. Le Pen and Gérald Darmanin, the interior minister leading the government’s crackdown on Islamism. Hours before the debate, he announced that the teacher would be granted police protection.
That evening, Jean-Michel Blanquer, the national education minister, issued a statement supporting the teacher. He also accused the mayor of trespassing into the high school to distribute tracts — the letter — that morning. “Political and religious neutrality is at the heart of the operation of the School of the Republic,” the minister said.
The city officials at the school that morning told The Times that no copies were distributed inside. The regional education office and Mr. Blanquer’s office refused to make the school principal available for an interview. The minister’s office declined to comment.
The trespassing accusations led to such an avalanche of threats against the mayor that he, too, was put under police protection — a shared destiny, for a while, for the two men of Trappes, who had each lost something.
The teacher was forced to leave the school where he had taught for 20 years and, despite his criticisms of Trappes, said “you really feel you’re on a mission.” He said he should have been more careful with the facts and had made “many mistakes,” but stuck by his interpretation of Trappes as “lost.”
His words, he said, had led to a “clarification of positions today in France.”
The mayor questioned the very Republic that once inspired him. He had believed that “the people who embody the Republic will come, the government will eventually express its solidarity with me.”
“Stunned,” he said, “I find that’s not the case.”
He declined his worried father’s request to resign.
“For a moment during the crisis, I told myself, well, if this is the Republic, I’m abandoning the Republic, just as it’s abandoned me,” Mr. Rabeh said. “But the truth is they’re not the Republic. The kids of Trappes are the Republic.”
More than 12.6 million United States households adopted animals from March to December of last year, according to the American Pet Products Association, helping to propel an increase in visits and revenue to veterinary offices.
That heightened demand has drawn investors and others to the market for veterinary services. Landlords who might have spurned tenants associated with unpleasant odors and noise are more amenable to leasing to the clinics after a year when the vets paid their rent while other businesses fell behind. And architecture firms that specialize in the design of vet space are busier than ever.
Tech-savvy start-ups are promising a reinvention of the experience, with phone apps, round-the-clock telemedicine and boutique storefronts with refreshments (for pet owners).
The pet care business is riding a growth spurt: Morgan Stanley projected that it would be a $275 billion industry in 2030, up from $100 billion in 2019, with vet care the fastest-growing segment over the next decade.
“Ten years ago, there was a baby boom,” Arash Danialifar, the chief executive of GD Realty Group, a California company that has leased space to a veterinary start-up, said about the proliferation of shops selling children’s fashion. “Now, it’s all about pets.”
When Allegra Brochin and her boyfriend adopted Sprinkles, a feisty white Maltese, last year, they set about finding pet care.
“I immediately started looking,” said Ms. Brochin, 23, who works as a communications coordinator for Michael Kors in New York.
She saw ads for Bond Vet pop up on her Instagram feed, and when she took in Sprinkles for her shots, she was won over by the look and feel of the clinic, “especially when it’s for a pet you care about and feel responsible for,” she said.
Ms. Brochin is not alone in her devotion to her pandemic pet. More than 12.6 million households adopted animals from March to December of last year, according to the American Pet Products Association, helping to propel an increase in visits and revenue to veterinary offices, as new owners took pets in for their first checkup.
pet care business is riding a growth spurt: Morgan Stanley projected that it would be a $275 billion industry in 2030, up from $100 billion in 2019, with vet care the fastest-growing segment over the next decade.
“Ten years ago, there was a baby boom,” Arash Danialifar, chief executive of GD Realty Group, a California company that has leased space to a veterinary start-up, said about the proliferation of shops selling children’s fashion. “Now it’s all about pets.”
Small Door Veterinary recently announced it had raised $20 million and planned to go from a single location to 25 by 2025. The firm operates on a membership model, with 24/7 telemedicine and waiting areas with arched, white oak-paneled alcoves that give owners and their pets an intimate place to chill before appointments. Designed by Alda Ly Architecture, the clinics are rented storefronts of 2,000 to 3,000 square feet and cost about $1 million to kit out, said Josh Guttman, Small Door’s co-founder and chief executive.
Bond Vet, another New York start-up, models itself on CityMD clinics; it recently raised $17 million and now has six offices, including its first suburban location, in Garden City on Long Island.
Modern Animal, has an office in a high-end shopping district in West Hollywood, with three more to come in the city by year’s end and a dozen clinics in California by 2022, said the company’s founder and chief executive, Steven Eidelman.
new pet owners during the pandemic. Seventy-six percent of millennials own pets, according to a recent survey, and they are spending generously on their charges.
Terravet Real Estate Solutions, founded in 2016, now owns more than 100 buildings in 30 states, many of them housing practices owned by consolidators. For instance, Terravet owns the building housing CountryChase Veterinary Hospital in Tampa, Fla., and the American Veterinary Group, which operates practices across the South, owns the business.
Hound Properties, founded two years ago, has been buying buildings with an investor-backed fund. And Vetley Capital, started this year, has a portfolio of 20 buildings in nine states, most of them on the small side, ranging from 2,500 to 4,000 square feet and costing around $1 million, said Zach Goldman, the company’s founder and president.
The price of real estate has risen, but the returns are generally modest. “It’s the ultimate slow and steady income,” said Tripp Stewart, co-founder and chief executive of Hound Properties, who is also a practicing vet.
Despite the interest, there are obstacles to opening pet hospitals. Zoning sometimes limits their locations. In Pasadena, Calif., GD Realty had to request a zoning change for Modern Animal.
Because such businesses revolve around animal doctors, who are in demand as veterinary companies expand, there are shortages of vets in some parts of the country, according to the American Veterinary Medical Association.
The improvements in vet facilities are thus aimed not only at pets and their owners, but also at the doctors themselves, who can choose where they want to work.
“It used to be that when you went to a vet, it was a family vet who worked out of a kitchen in an old house,” said Dr. Stewart. “Today, you’re not going to attract new young vets to an old house.”
KIRUNA, Sweden — The path to the reindeer herder’s spring home took him across four frozen lakes and countless snowy hilltops. Arriving to a light dusting of snow, the herder, Aslak Allas, switched off his snowmobile, and the overwhelming silence of Sweden’s Arctic settled in.
His reindeer, thousands of them, were nowhere to be seen. “They are very scared of noise,” Mr. Allas, explained, pointing to his vehicle.
He then motioned toward the distant hills dotted with birch trees, their buds swelling with the warming spring sun. “Now, the noise coming from there, that will be something else,” Mr. Allas sighed.
SpaceX. He and several competitors are planning to send up to 50,000 such satellites into space in coming years, compared with fewer than 3,000 out there now.
While the United States, China, Russia and several other countries already have spaceports, Sweden’s would be the first orbital launch site for satellites in Europe — capable of launching spacecraft into orbit around Earth or on interplanetary trajectories. Currently, the intergovernmental European Space Agency launches its traditional single-use Ariane rockets from French Guiana.
Several private European companies are designing spaceports in Europe to host a new generation of smaller rockets. Portugal is looking into building one on the Azores Islands, two remote sites have been allocated in Britain and Norway is upgrading its Andoya Space Center.
Esrange Space Center will be a testing ground for Europe’s first reusable vertical rocket in 2022, and it can conduct engine tests as well.
Swedish Space Corporation, which manages the site, is offering launch services to private ventures wishing to send satellites into space.
“We are a bit of a unicorn in the space business,” said Philip Pahlsson, vice president for strategy and innovation of the Swedish Space Corporation, referring to the government ownership of the site. “But we do plan on being the awesomest company in the government’s portfolio.”
being moved, as the city is slowly sinking into the excavated caverns below.
A 50-foot rocket stands at one of the main intersections, a testament to Sweden’s space ambitions. Space is woven into the fabric of the city.
The Swedish Institute of Space Physics is based in Kiruna, as is the Space High School for gifted teenagers. The space engineering program at Lulea University of Technology, also in Kiruna, attracts Ph.D. students from across Europe. An enormous satellite receiver dish, sticking out from the woods in a vast white valley, serves as a geographical landmark.
Esrange has many of the attributes of other space ports —high fences and warning signs, andsome used rockets on display. But it also has a church, a visitor center and the Aurora hotel, named for the northern lights that color the winter skies. Snow is everywhere, of course, and reindeer roam the terrain (no one knows how they get past the fences), but astronauts and moon landers are nowhere to be found.
Themis, after an ancient Greek Titaness who was the personification of divine order.
On this day, the main activity consisted of engine testing by two fiercely competitive German space start-ups, Rocket Factory Augsburg and ISAR Aerospace Technologies.
the fastest pod in Elon Musk’s competition for ultra-high-speed transport in hyperloop, or travel in a vacuum tube. That caught the attention of Bulent Altan, a former vice president at Space X, who decided to back Mr. Fleischmann and his friends.
Sami are the last Indigenous people of Europe and live in Finland, Sweden, Norway and Russia.
In 2019, after an appeal by his district, Mr. Allas managed to block some of the expansion plans for the base, and now his sights are set on the coming noise pollution.
“They might say we need to launch or else we lose our customers, but reindeer herding has been around here long as you can imagine,” Mr. Allas said, adding that a legal battle seemed inevitable. “For us, the Space Corporation is the oldest intruder of our lands, but we have much older rights.”
LONDON — Before the pandemic hit Britain last year, Michelle Hedley could only go to her local theaters in the north of England if they happened to be doing a captioned performance.
That happened five times a year — at best, said Hedley, who is deaf.
But during the pandemic, suddenly, she could watch musicals all day and night if she wanted, as shuttered theaters worldwide put shows online, often with subtitles. “I started watching anything and everything simply because I could!” Hedley, 49, said in an email interview. “Even subject matters that bored me!”
“I viewed more theater than I had done (it felt like) in a lifetime,” she added.
22 percent of England’s population andhave diverse requirements — such as wheelchair access, audio description or for “relaxed” performances where audiences are allowed to make noise — this moment is causing more mixed reactions. Some fear being forgotten, andthat struggling venues will concentrate on producing in-person shows and forgo online offerings, or cut their in-person services for disabled people.
There is little evidence of that so far, and some venues say they will continue to include disabled people, but the real effect of venues’ reduced budgets won’t become clear for months.
“I will be forced to go back to being grateful for just five shows a year,” Hedley said. “It is very frustrating.”
Others are concerned, too. “I just have this sense of being left behind with people being so euphoric that they can do things in the flesh again,” Sonia Boué, an artist who is autistic, said in a telephone interview.
Before the pandemic, Boué, 58, would only visit museums if she was convinced a show would be worth the huge amount of energy the experience took. Getting the train from her home in Oxford to London could be overwhelming, she said, as coulddealing with crowds in a packed museum. “I’ve been in situations when I’ve just wanted to throw myself down on a station platform and lose it,” she said.
the painter Tracey Emin and the photographer Jo Spence, she said, with both influencing her own art. “The whole experience was so rich and wonderful,” Boué said.
emergency funding from the government.
Some high-profile venues have said they will keep working to include disabled people as they reopen. Kwame Kwei-Armah, the artistic director of the Young Vic theater in London, told The Guardian in May he wanted to livestream at least two performances of all future shows, with viewers limited to about 500 per stream, mimicking the theater’s capacity. The Young Vic intends to guarantee some of those tickets for disabled people, a spokeswoman said in an email. On Friday, the Almeida, another London theater, said it would film and released digitally its next season’s shows “where possible” but gave no further details.
But for regional theaters that are coming off a year without ticket sales, streaming may not always be possible. “It’s a huge financial outlay, making films, so you really need to think about it from the start,” Amy Leach, the associate director of Leeds Playhouse, said in a phone interview. She hoped her theater would do that for future work, she said.
People’s concerns are not just about cuts to streaming. Jessica Thom, a performer and wheelchair user who’s made work about her Tourette’s syndrome, said in a telephone interview that she was worried that some venues may see online shows as an accessibility alternative to offering the relaxed performances she loved to go to, where people were free to move around or make noise. “The anxiety about being written out is real,” she said.
Graeae, Britain’s leading deaf and disabled-led theater company, as well as “The Unknown” for Leeds Playhouse (streaming until June 5).
She has been helped in such work by being able to have meetings and rehearsals virtually. “My experiences have been incredibly inclusive,” she said, “and I think a lot of us are having the same concerns about ‘Will we go back to old ways of working, when we’re told we need to be in the room?’”
like the Globe in London, have started offering in-person performances with audio description, Wood said. But she won’t be able to attend for months. “I worked out the other day I’d need to be guided by about 25 people to go from my home to a London theater,” she said. “I can’t tell if someone is wearing a mask or not, I can’t keep distance, so I don’t feel ready,” she added.
Many other disabled people feel similarly anxious about attending events in person, she said, having been disproportionately affected by the pandemic. She was worried theaters might cut back on services assuming there isn’t demand, even if the trend for that hasn’t happened yet.
Six British museums and theaters said in emails they intended to maintain provisions for disabled audiences, and not cut back. Andrew Miller, a campaigner who was the British government’s disability champion for arts and culture until this spring, said many institutions would be hard pressed to “wriggle” out of commitments even if they for some reason wanted to, as much funding in Britain comes with a requirement to expand access. But future funding cuts could make the situation “messy,” he said. “There is a genuine worry there’ll be significantly less investment,” he added.
Boué said she just hoped British theaters and museums kept disabled people in mind. It should be easier than ever to identify with disabled people, she said. When the first lockdown hit, “it was this jaw dropping moment when everyone felt completely immobilized and like they didn’t have the freedoms they’d always taken for granted,” she said.
For once, “it was like disability was really everyone’s problem,” she added.
When Jeffrey Epstein gave The Times columnist James Stewart a tour of his apartment a few years ago, he boasted of his expansive Rolodex of billionaires — and the dirt he had on them. A year and a half after the financier’s death by suicide in a New York jail, the fallout for those in the registered sex offender’s orbit, and increasingly those a step or two removed from it, continues to spread.
For example, the latest management reshuffle at Apollo, as we reported yesterday, can be linked back to Epstein. Tracing all the resignations and reshuffles directly and indirectly tied to the scandal will take a while (we’re working on it), but here’s a tally of some so far:
The Apollo co-founder Leon Black said in January that he would resign as C.E.O. but stay on as chairman, after an internal inquiry found he had paid $158 million to Epstein for tax advice. He unexpectedly quit both posts in March, and later stepped down as chairman of the Museum of Modern Art. Josh Harris, a fellow co-founder who had unsuccessfully pushed Black to quit immediately, said yesterday that he was stepping back from Apollo after failing to become the next C.E.O.; Marc Rowan, Apollo’s third co-founder and Black’s pick as successor, now leads the firm.
When the details of meetings between Epstein and Bill Gates burst into public view in late 2019, the billionaire’s wife, Melinda French Gates, hired divorce lawyers. The couple’s split, announced this month, could upend their numerous investments and philanthropic ventures
Les Wexner announced last February that he would step down as C.E.O. of the Victoria’s Secret parent company L Brands, under pressure from multiple internal investigations about his close ties to Epstein. Earlier this year, he and his wife, Abigail Wexner, said they would not stand for re-election to the L Brands board this month. (The company is now in the process of spinning off Victoria’s Secret.) Mr. Wexner was Epstein’s biggest early client and, a Times investigation found, the original source of the financier’s wealth.
Prince Andrew of Britain gave up his public duties last November, days after a disastrous interview with the BBC centered on his relationship with Epstein. At least 47 charities and nonprofits of which he was a patron have since cut ties to the prince.
Joi Ito resigned as the director of the M.I.T. Media Lab, a prominent research group, in 2019 and as member of several corporate boards (including The New York Times Co.), after acknowledging that he had received $1.7 million in investments from Epstein.
Alexander Acosta resigned as Donald Trump’s labor secretary in 2019, amid criticism of his handling of a 2008 sex crimes case against Epstein when he was a federal prosecutor in Miami.
HERE’S WHAT’S HAPPENING
Morgan Stanley sets up its C.E.O. succession competition. The Wall Street firm gave new roles to four top executives, marking them as candidates to take over from James Gorman: Ted Pick and Andy Saperstein were named co-presidents; Jonathan Pruzan was named C.O.O.; and Dan Simkowitz was named co-head of strategy with Pick.
The U.S. endorses a global minimum tax of at least 15 percent. The proposal, which was lower than some had expected, is closely tied to the Biden administration’s plans to raise the corporate tax rate. Global coordination would discourage multinationals from shifting to tax havens overseas.
Treasury officials said they could capture at least $700 billion in additional revenue. That would involve hiring 5,000 new I.R.S. agents, imposing new rules on reporting crypto transactions and other measures.
U.S. customs officials block a Uniqlo shipment over Chinese forced labor concerns. Agents at the Port of Los Angeles acted under an order prohibiting imports of cotton items produced in the Xinjiang region.
U.S. steel prices are soaring. After years of job losses and mill closures, American steel producers have enjoyed a reversal of fortune: Nucor, for instance, is the year’s top-performing stock in the S&P 500. Credit goes to industry consolidation, a recovering economy and Trump-era tariffs. Unsurprisingly, steel consumers aren’t thrilled about it.
Oprah Winfrey to Blackstone, made its stock market debut yesterday, ending its first trading session with a valuation of about $13 billion. DealBook spoke with Oatly’s C.E.O., Toni Petersson, about the I.P.O. and what’s next for the company.
resignation letter offering both praise of SoftBank’s chief, Masa Son — and unusually pointed criticism of the company’s corporate governance.
Going out vs. staying in, charted
It’s been a while since we checked in on an alternative indicator of pandemic economic activity: the share price ratio of Clorox to Dave & Buster’s.
Wait, what? Nick Mazing, the director of research at the data provider Sentieo, came up with that metric to gauge the openness of the economy. The higher Clorox’s share price rises relative to Dave & Buster’s, the more people appear to be staying home and disinfecting everything than going out to crowded bars. By this measure, conditions have nearly returned to prepandemic levels — indeed, Dave & Buster’s recently lifted its sales forecast, as nearly all of its beer-and-arcade bars have reopened.
packed concert schedule, selling tickets to people who may have already binge-watched all of “Below Deck.” The second, however, suggests that people aren’t as eager to get back to huffing and puffing at the gym as they are content to exercise at home. As restrictions lift and people feel safer in crowds, drinking and dancing appear to be higher priorities.
new book, “Noise: A Flaw in Human Judgment,” the Princeton psychology professor and Nobel laureate Daniel Kahneman, along with co-authors Olivier Sibony and Cass Sunstein, argue that these inconsistencies have enormous and avoidable consequences. Kahneman spoke to DealBook about how to hone judgment and reduce noise.
DealBook: What is “noise” in this context?
Kahneman: It’s unwanted and unpredictable variability in judgments about the same situations. Some decisions and solutions are better than others and there are situations where everyone should be aiming at the same target.
Can you give some examples?
A basic example is the criminal justice system, which is essentially a machine for producing sentences for people convicted of crimes. The punishments should not be too different for the same crime yet sentencing turns out to depend on the judge and their mood and characteristics. Similarly, doctors looking at the same X-ray should not be reaching completely different conclusions.
How do individuals or institutions detect this noise?
You detect noise in a set of measurements and can run an experiment. Present underwriters with the same policy to evaluate and see what they say. You don’t want a price so high that you don’t get the business or one so low that it represents a risk. Noise costs institutions. One underwriter’s decision about one policy will not tell you about variability. But many underwriters’ decisions about the same cases will reveal noise.
An arm of Goldman Sachs has raised $3 billion from clients to invest in later-stage start-ups. (WSJ)
SPACs have raised $100 billion this year through May 19, a record, but new fund listings dropped sharply last month. (Insider)
Politics and policy
President Biden issued an executive order directing government agencies to expand efforts to analyze and mitigate the economic risks tied to climate change. (Axios)
“As Paycheck Protection Program Runs Dry, Desperation Grows” (NYT)
CNN said the prime-time host Chris Cuomo inappropriately advised his brother, Gov. Andrew Cuomo of New York, on how to respond to sexual harassment allegations. (NYT)
Paul Romer was one of the tech industry’s favorite economists; now he is criticizing Silicon Valley giants for being too big. (NYT)
Amazon was recently pushed to ban prominent electronics accessory makers by the F.T.C. over fake-review schemes. (Recode)
Best of the rest
Bill Gates and Warren Buffett got more than 200 billionaires to pledge half their wealth to charity. Some are falling short, but still getting massive tax breaks. (Insider)
FIFA, the global soccer governing body, secretly considered supporting the European Super League, before reconsidering amid public outcry about the now-failed competition. (NYT)
Five questions to ask before you panic about inflation. (NYT)
We’d like your feedback! Please email thoughts and suggestions to email@example.com.
This article is part of our latest special report on Museums, which focuses on reopening, reinvention and resilience.
When Brad Carney sketched the plan for a 15,000-square-foot ground mural in downtown Reno, Nev., he wove in design elements from the area’s railroading heritage, and pulled hues and motifs from nearby buildings and landscapes, including the state flower and the famed Reno Arch.
“I wanted to make it specific and unique to its place, so that this mural couldn’t exist anywhere else,” said Mr. Carney, an artist based in Philadelphia known for his playful, large scale and brightly colored public works.
“When I design murals,’’ he added, “I like to become a vessel for a community and a neighborhood, and not bring too much of myself until I find out what they’re looking for. The point of public art, to me, is the process of involving the community.”
16 small and midsize cities across the country where artists and local residents are taking to the streets — from crosswalks to underpasses — to add new color to old blacktop and pavement with eye-catching urban art as part of Bloomberg Philanthropies’ Asphalt Art Initiative. Grants of up to $25,000 are helping cities create and implement relatively low-cost public art projects to revitalize their streets and public spaces by making them more beautiful, more inviting and safer.
ReTRAC Plaza, a little used concrete and dirt space once covered in train tracks being developed as a hub for local events, Mr. Carney said, from music festivals and farmers’ markets to movie nights.
Kate D. Levin, who oversees arts programs for Bloomberg Philanthropies and was commissioner of the New York City Department of Cultural Affairs. And especially now, as cities reopen, “there’s a social cohesion goal that I think has only gotten more urgent,” she said. “Why not use projects like this to actually let people be involved, create a sense that public space belongs to everyone?”
The goals are to support local working artists, community groups, businesses and government on collaborative infrastructure projects to make streets safer; to activate public space in ways that are “as robust and reflective of local identity and aspirations as possible,” Ms. Levin said; and to promote community engagement, “because a streetscape isn’t theoretical, it runs through people’s lives.”
Janette Sadik-Khan, a former commissioner of the New York City Department of Transportation and now transportation principal at Bloomberg Associates, the pro bono consulting arm of Bloomberg Philanthropies, which advises mayors around the world. “Streets make up more than 80 percent of a city’s public space, so they’re really the front yards for millions of Americans.”
Three cities began or completed installations in late 2020: Kansas City, Mo; Saginaw, Mich.; and Norfolk, Va. The remaining 13 are expected to finish their projects this year. Through mid-May, the cities have transformed a combined 26,000 square feet of streetscape with artwork and engaged more than 1,500 residents and 72 artists in the design and installation process.
minority artists who will design vinyl wraps for 25 utility boxes throughout downtown. Troy, N.Y. intends to beautify an underpass.
“So many U.S. cities have underpasses that, whatever the original intent, turned into real barriers, and divided neighborhoods in ways that often aren’t very positive,” Ms. Levin said, expressing hope that the art projects “can create a gateway instead of an impediment.”
Teal Thibaud, director of the Glass House Collective, a nonprofit that works in an underserved neighborhood in East Chattanooga, Tenn., said even small improvements could help spawn others, especially in an area that had received limited infrastructure investment in recent years.
The Bloomberg-funded mural, completed in April, helped beautify the area, and several grants from local foundations, which increased the overall project budget to $60,000, enhanced the area in other ways.
A new street park next to the asphalt mural that created a safe gathering space, fence art to slow traffic near the elementary school, and painted stencils on sidewalks to encourage school children and other residents to follow the safest local routes were among the projects, said Ms. Thibaud. “We’re starting to see it all work together.”
Kansas City, Mo., redesigned a busy, dangerous four-way intersection where cars rarely stopped for pedestrians, said DuRon Netsell, founder and principal of Street Smarts Design + Build, an urban design firm that focuses on walkable communities. “People were just flying through the intersection, significantly over the speed limit.”
Midtown KC Now, a nonprofit local community improvement organization.
Soon after installation, foot traffic increased, overall vehicle speeds declined by 45 percent, street crossing times for pedestrians were cut in half, noise level dropped by about 10 decibels and the share of pedestrians who said they felt safe crossing the intersection increased to 63 percent from 23, Mr. Netsell said.
Bloomberg Philanthropies and Bloomberg Associates issued the Asphalt Art Guide, a free manual with tips, checklists, and case studies of successful projects around the world to encourage more cities to develop visual art projects. In March, Bloomberg Philanthropies announced a second round of up to 20 grants, open to all U.S. cities.
“Safety doesn’t have to be mundane and boring,” Mr. Netsell said. “We’ve proven that we can make our intersections and streets much safer, but we can also make them really fun and vibrant. It’s something that all local communities can do.”
GAZA CITY — Riad Ishkontana had promised his children that their building on Al Wahida Street was safe, though for Zein, his 2-year-old son, the thunder of the airstrikes spoke louder than his reassurances.
The Israelis had never bombed the neighborhood before, he told them. Theirs was a comfortable, tranquil area by Gaza City standards, full of professionals and shops, nothing military. The explosions were still far away. To soothe them all, he started calling home “the house of safety.”
Mr. Ishkontana, 42, tried to believe it, too, though around them the death toll was climbing — not by inches, but by leaps, by housefuls, by families.
He was still telling the children about their house of safety all the way up until after midnight early Sunday morning, when he and his wife were watching more plumes of gray smoke rising from Gaza on TV. She went to put the five children to bed. For all his attempts at comforting them, the family felt more secure sleeping all together in the boys’ room in the middle of the third-floor apartment.
killed 227 Palestinians in Gaza, striking at Hamas militants who were firing rockets at Israel from the coastal strip, but in the process further compounding the agony of what, for Gaza’s two million residents, is already a kind of crumbling open-air prison. Its electricity, water, sanitation and health care systems, rarely stable before the airstrikes, are now in shambles. With its borders shut by Israel and Egypt, there is nowhere for its people to flee.
a significant de-escalation today on the path to a cease-fire,” the White House principal deputy press secretary said. European governments were also pushing for an immediate cease-fire, while international parties, including Egypt, attempted to mediate.
Hamas rockets have also kept killing people in Israel — 13 in all since the start on May 10. Among the dead were three foreign workers, who make up most of Israel’s agricultural work force but have long endured squalid living conditions there. After two Thai employees of a packaging plant near the Gaza border were killed on Tuesday, a local official told The Times of Israel newspaper that the agricultural community where they worked did not have an adequate shelter against rockets.
Israel says its American-funded Iron Dome defense system has intercepted about 90 percent of the rockets.
In Gaza, there is neither Iron Dome nor dedicated shelter, only the strip’s United Nations-run schools, whose classrooms are overflowing with 47,000 evacuees. The United Nations said another 29,000 people have been forced to leave their homes and shelter with other families, for a total of about 75,000 people displaced in Gaza by the Israeli military campaign.
In the jagged blackness where he was buried under what had been his apartment, Mr. Ishkontana said, he could hear Zein, his 2-year-old, moving around and crying, “Baba! Baba!” Dana, 8, was also calling to her father for help, her voice trembling.
The Israeli-Palestinian Conflict
Mr. Ishkontana was pinned in place. The walls, pillar and roof had fallen on his chest, back, hand and right leg, breaking two ribs and slicing off a finger. He tried shouting for help, but he barely had the strength.
“I was surrounded by death and the end of life,” he said. “I felt like my life was over. I was waiting for death at any moment.”
After a few minutes, Zein went quiet. So did Dana.
Six hours passed.
Then there was a noise, Mr. Ishkontana recalled. A whir of machinery, faint but unmistakable. A bulldozer?
“Who’s alive?” he heard a man calling. “Is anyone alive?”
Hope crashed over him, carrying with it the thought: I’m going to live.
“Oh God!” he started shouting, alternating prayers with calls to the rescuers. One of them told him to keep breathing while they dug down toward him through the debris, gray but for the occasional splotch of floral couch or purple dishrag or bag of bread.
The rescuer asked Mr. Ishkontana if there were any signs of life around him.
No, he said.
When Mr. Ishkontana saw a small hole open up above him, he stuck two fingers through it to let them know they had found him. Up above, people were chanting, “God is great! God is great!” He raised the two fingers in a weak victory sign.
His feelings, he said in an interview on Wednesday at a relative’s house, where visitors had come to offer condolences after he was discharged from a hospital, were a jumble: “power, mercy, strength, survival.”
“A new life appeared on the horizon when they moved the rubble,” said Mr. Ishkontana, who, after losing his job as a waiter at a Thai restaurant during the coronavirus pandemic, had turned to odd jobs. “Even though I was thinking at the same time that because I lost my family, my whole life was gone.”
At Shifa Hospital several hours later, someone gave him the news: One of his daughters, 7-year-old Suzy, had been found alive under the rubble a few hours after him, only lightly wounded in the face. In joy, then terror, he asked about the rest of his family: his wife, Abeer, 28; and Dana, 8; Lana, 6; Yahya, 5; and baby Zein.
The man said rescuers were still hoping to save them from the rubble.
But he knew that the man was trying to cushion the blow, Mr. Ishkontana said. He knew they were all gone.
Iyad Abuheweila reported from Gaza City, and Vivian Yee from Cairo. Gabby Sobelman contributed reporting from Rehovot, Israel, and Elian Peltier from Inverie, Scotland.
“The F-150 is generally driven by guys who have a certain image of driving around in a truck — and that image includes noise, gasoline, a muscle engine. We don’t know anything about consumer uptake of eclectic trucks. We don’t know if they’ll want to drive this.”
A study published this year found that about 20 percent of people who purchased electric passenger vehicles were dissatisfied with them — in part because they worried about the lack of electric vehicle charging stations — and returned to driving traditional vehicles.
But White House officials say the pickup Mr. Biden drove on Tuesday could help tip that calculation. The F-150 “has really been a high-performing work vehicle and leisure vehicle, and now you can get it without the expense of all of that gasoline,” Gina McCarthy, the White House national climate adviser, said in an interview.
So far, only Tesla has sold electric models in high volume, but Ford typically sells about 900,000 F-Series vehicles a year. Earlier this year, Ford began selling the Mustang Mach E, a battery-powered sport-utility vehicle styled to resemble the company’s famous sports car.
“We’re not just electrifying fringe vehicles,” the company’s chairman, William C. Ford Jr., said. “The Mustang and the F-150 are the heart of what Ford is, so this is a signal about how serious we are about electrification.”
Autoworkers have expressed concerns over the electric transition, which American automakers are increasingly embracing, because the production of an electric vehicle requires about one-third less human labor than a vehicle powered by an internal combustion engine.
But union leaders offered cautious support of the president’s cheerleading for the electric pickup.
“It is no secret that the U.S. auto industry is at a crossroads, as sales of electric vehicles and plug-in hybrids are poised to become more and more common on our roads and highways in the years ahead both at home and abroad,” said Rory L. Gamble, the president of the United Auto Workers. “Taxpayer dollars should be spent in support of U.S.-built vehicles, not imports. ”