logo
D.C. has too many restaurants. It's time for some to go.

D.C. has too many restaurants. It's time for some to go.

Washington Post30-05-2025
The debate about the elimination of the special minimum tipped wage, as was noted in Marc Fisher's May 23 op-ed, 'In D.C.'s new world of eating out, when is a service fee a tip?,' ignores an inconvenient truth: D.C. has too many restaurants.
I live in the Palisades. In my neighborhood, within three blocks of my house, there are six restaurants. If I extend that range to a still-doable 15-minute walk, there are four more. But I don't have a drugstore within that three-block radius, or a hardware store, or a bookstore, or a full-service grocery store. Restaurants make so much money that they can afford to pay higher rents than other kinds of stores, and the result is less variety in the local commercial market.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom
Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom

Yahoo

time25 minutes ago

  • Yahoo

Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Wedbush Securities analyst Dan Ives compared Microsoft Corp. (NASDAQ:MSFT) to world No. 1 golfer Scottie Scheffler ahead of the tech giant's fourth-quarter earnings release Wednesday after market close. What Happened: 'We expect more good news next week from Redmond as Nadella & Co. will deliver another robust quarter driven by the AI Revolution,' Ives wrote on X Friday. 'The Scottie Scheffler of software is firing on all cylinders as this cloud stalwart is front and center as the core AI enterprise foundation.' The comparison references Scheffler's dominant performance in professional golf. The 29-year-old American has held the world No. 1 ranking for over 100 weeks and won four major championships, according to the Official World Golf Ranking. Trending: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— Microsoft trades at $510.80, with analysts setting a consensus price target of $551.07 based on 30 ratings. Citigroup issued the highest target at $613 while JPMorgan set the lowest at $475 in May. Ives maintains an Outperform rating with a $600 price target, calling it 'probably conservative.' He projects Microsoft will join Nvidia Corp. (NASDAQ:NVDA) in the $4 trillion market cap club this summer, with potential for $5 trillion within 18 months. Why It Matters: The Redmond-based company faces scrutiny over workforce decisions. Vice President JD Vance criticized Microsoft for laying off 9,000 American workers while increasing H-1B visa applications. CEO Satya Nadella addressed the cuts in an employee memo Thursday, saying the decisions 'weigh heavily' on him. Despite layoffs, Microsoft expanded its AI team by hiring approximately 24 employees from Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) DeepMind division. Ives expects over 70% of Microsoft's installed base to adopt AI functionality within three years, potentially adding $25 billion in revenue by fiscal 2026. Microsoft allocated $80 billion in capital expenditure guidance for fiscal 2025 to expand data center capacity and capitalize on AI demand trajectory. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image via Shutterstock This article Dan Ives Calls Microsoft 'Scottie Scheffler Of Software' Ahead Of Earnings — Says Satya Nadella-Led Cloud Giant Is Firing On All Cylinders In AI Boom originally appeared on

Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes
Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes

Yahoo

time25 minutes ago

  • Yahoo

Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes

Upon closing of Paramount Global and Skydance Media's $8 billion merger, Oracle co-founder and chairman Larry Ellison will hold a minority voting interest of approximately 35.5% in the combined company. When Skydance first submitted its broadcast license transfer application to the FCC in September, the initial filing stated that the Skydance investor consortium would hold 100% of the equity and voting interests in National Amusements Inc., the holding company for Paramount's controlling stake. More from TheWrap Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes Paramount-Skydance Merger Expected to Close Aug. 7 As FCC Clears Paramount-Skydance Deal, All Eyes Are on Rebuilding the Media Giant As Skydance-Paramount Merger Closes, the 'South Park' Trump Takedown Shows the Fight Is On | Analysis Pinnacle Media, a group of three ventures formed 'as special-purpose vehicles to hold the Ellison family's interest in NAI and Paramount,' was set to control approximately 77.5% of such interests, while RedBird Capital Partners was expected to hold the remaining approximately 22.5%. The move signaled that the elder Ellison was poised to have a large role in New Paramount. But that was later amended in October, with Skydance stating that David Ellison would control 100% of the family's voting interest as its 'sole manager.' Now, according to the final order released by the Federal Communications Commission on Thursday, another amendment was made to Skydance's application on July 16, which states that the younger Ellison will grant Sayonara LLC, which is controlled by the elder Ellison through a revocable trust, a voting interest equal to approximately 35.5%. Meanwhile, Pinnacle Media will grant the younger Ellison 64.5% of its respective voting interest in NAI. In accordance with the voting percentages, David Ellison and Sayonara will have the right to designate the Ellison family directors of NAI and New Paramount. The amendment notes that Sayonara will not have any 'veto rights, or any special or outsized voting rights,' in NAI or New Paramount as a result of the minority voting interest. It added that the changes were being undertaken for 'the sake of efficiency and cost savings at New Paramount.' Under the two-step deal, Skydance is set to acquire controlling shareholder Shari Redstone's holding company National Amusements, which controls 77.4% of the Paramount Class A common stock outstanding and approximately 9.5% of the overall equity of the company, before merging with the Hollywood studio. The deal provides $2.4 billion for Redstone, $4.5 billion to non-NAI Paramount shareholders and an additional $1.5 billion in new capital to help pay down debt and recapitalize the company's balance sheet. Larry Ellison is providing $6 billion in financing for the deal, while the remainder will come from RedBird. Skydance's consortium of investors will control 70% of shares outstanding. The combined company will have an enterprise value of $28 billion, while Skydance is being valued at $4.75 billion. David Ellison will serve as New Paramount's CEO, while Jeff Shell will serve as president. Redstone will exit Paramount's board of directors and Paramount co-CEO Chris McCarthy will exit the company following the deal's closing. The company's stock will also begin trading on the Nasdaq under the ticker symbol PSKY. Shares of Paramount closed down 1.58% at $13.05 apiece on Friday. The stock is up 13.8% in the past year and 23% year to date. As of the end of Friday's trading session, Paramount has a market capitalization of $9.19 billion. The post Larry Ellison to Hold 35.5% of Family's Voting Rights in New Paramount, National Amusements After Skydance Merger Closes appeared first on TheWrap.

Baltimore Ravens, Under Armour expand girls' flag football programs at Maryland high schools
Baltimore Ravens, Under Armour expand girls' flag football programs at Maryland high schools

CBS News

time27 minutes ago

  • CBS News

Baltimore Ravens, Under Armour expand girls' flag football programs at Maryland high schools

The Baltimore Ravens and Under Armour are expanding their girls' flag football program at several Maryland high schools for the upcoming school year. The initiative launched in 2023 at 10 public high schools in Frederick County. In 2024, the program expanded to 43 schools in Baltimore City and Montgomery, and Washington counties. Starting in fall 2025, the girls' flag football program will expand to two more Baltimore City Public Schools: The Baltimore Polytechnic Institute and the National Academy Foundation. The Ravens and Under Armour will also partner with Calvert and Charles County Public Schools to provide funding and uniforms to develop the program. The companies will partner with the Washington Commanders to provide funding for Prince George's and Montgomery County schools. "From the beginning, we have been fully committed to launching and developing this initiative throughout Maryland, and we recognize that providing additional funding is essential to the program's long-term sustainability and statewide impact," said Brad Downs, the senior vice president of marketing for the Ravens. Since launching the program three years ago, the Ravens have given nearly $600,000 in funding to expand the girls' flag football program in the state. Athletic wear manufacturer Under Armour creates custom outfits for the high school teams. By fall 2025, 92 schools will be participating in the program across Maryland, including 14 in Baltimore. "Girls' flag is rapidly advancing toward the ultimate goal of becoming a state-sanctioned sport and allowing female student-athletes in every Maryland county to receive these same opportunities well into the future," the Ravens said in a statement. Each school will compete during the fall, ending with the Maryland Girls Flag Championship at M&T Bank Stadium in November.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store