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New York Post
01-05-2025
- Business
- New York Post
More dolls means better living — why American abundance matters
President Trump downplayed the significance of potentially empty store shelves at his Wednesday Cabinet meeting. He said of goods from China that might go missing in the trade war, 'much of it we don't need.' Then, he elaborated the point: 'Well, maybe the children will have two dolls instead of 30 dolls, you know? And maybe the two dolls will cost a couple of bucks more than they would normally.' Advertisement At that moment, Trump surely made history: He must be the first president in history to say publicly that his policies will deprive American children of toys. The American Girl Disney Princess Cinderella Doll may be collateral damage in a trade fight that is supposed to reduce our strategic dependence on China. Advertisement What Trump was ultimately dismissing is abundance, which is one of the marvels of our system. Fewer choices at a greater cost — whether of dolls or other goods — simply means a lower standard of living. The Human Progress project at the Cato Institute calculated 'the time price' of various goods, or how long someone had to work to buy them, from 2000 to 2024. The time price of toys dropped by more than 88% over the period. Advertisement In other words, the work that it took to afford to buy one toy a quarter-century ago would buy almost nine toys today. This is important, not because we want children to have nine times as many toys as they did in 2000, but the reduced time devoted to buying a toy can be used to buy something else (clothes, sports equipment, art supplies), or to work less. This same dynamic holds across the board. Mark Perry of the American Enterprise Institute looked at the time price of 11 basic household goods from the 1950s to 2013. 'The typical factory worker in 1959,' he writes, 'would have had to work from January 1 until the middle of June to earn enough (pre-tax) income to purchase those 11 appliances, a worker in 1973 would have had to work from the first of the year until the second week of April, and today's factory worker would only have to work until the end of January to earn income for those 11 appliances.' Advertisement Keep up with today's most important news Stay up on the very latest with Evening Update. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters This is the process of a society getting richer. Trump spoke of what we really 'need.' At the end of the day, we don't need anything except food and shelter. That doesn't mean we should be content to settle for less rather than more. The United States, for instance, has a higher standard of living than Greece. According to CIA figures, the US had a $74,000 per capita GDP in 2023, and Greece had a $36,900 per capita GDP. That doesn't mean that people are dying in the streets in Greece — they just have less and lower-quality stuff. Advertisement Until now, everyone would have agreed that that is a bad thing, and we should avoid taking any steps back down the ladder of prosperity. The vast array of choices we have as consumers is one of the adornments of modern life. No one walks into a grocery store and looks at the bins in the produce section, sees Red Delicious, Granny Smith, Gala, Honeycrisp, Fuji, and Golden Delicious apples, and thinks, 'Oh no, there are too many varieties to choose from.' Or, consider dolls. Advertisement Among the major brands, there are Barbie, American Girl, LOL Surprise!, Bratz, Cabbage Patch Kids, and Rainbow High, all with a dizzying variety of dolls for girls with different interests at all sorts of prices. We don't need a central authority telling us which of these dolls are more necessary than others — the market does that. All of this is off-brand for a President Trump associated with business success and consumerist excess. Advertisement It's more natural for him to be boosterish — we are going to have more dolls at better prices than ever! — than to try to talk people into accepting scarcity. The sooner he can get out of the position of explaining away what might be imminent shortages and higher prices, the better. Twitter: @RichLowry
Reuters
13-03-2025
- Business
- Reuters
Oracle lawyers' $58 million fee award on the line in Rimini Street appeal
March 13 (Reuters) - (Billable Hours is Reuters' weekly report on lawyers and money. Please send tips or suggestions to opens new tab) After 15 years of litigation, a copyright law battle between software support company Rimini Street (RMNI.O), opens new tab and tech giant Oracle (ORCL.N), opens new tab is headed back to a U.S. appeals court, as Rimini fights to overturn $58 million in legal fees awarded to Oracle in the case in September. Rimini's lawyers at Weil, Gotshal & Manges and Gibson, Dunn & Crutcher in their opening brief, opens new tab this week asked the 9th U.S. Circuit Court of Appeals to reject the fee award as unjustified. A federal judge in Nevada awarded the fees to Oracle last year after finding it had substantially prevailed on its copyright infringement claims against Las Vegas-based Rimini, which provided technical support for Oracle enterprise software clients starting in 2008. Oracle first sued Rimini in 2010, accusing it of illegally using its software and support materials for Rimini clients. Rimini was ordered to pay Oracle $90 million following a 2015 jury verdict, including $58.1 million in damages and $31.9 million in attorneys' fees and costs. Rimini in a separate 2014 lawsuit asked a judge to rule that it had stopped infringing Oracle's copyrights. The judge found in a bench ruling in 2023 that Oracle prevailed on some of its copyright allegations, though the 9th Circuit vacated most of that decision in December. Weil's Mark Perry, a lead appellate lawyer for Rimini, argued in the company's latest appeal that Oracle had failed "after more than a decade of scorched-earth litigation" to succeed on copyright claims for which it once sought more than $1.4 billion in damages. "It is exceptionally clear that Oracle is not the prevailing party and is not entitled to an award of the tens of millions of dollars it spent losing this case," Rimini told the San Francisco-based 9th Circuit. Rimini said the case produced "a mixed-result" that does not warrant awarding fees to either side. In the least, Rimini argued, the appeals court should find that Oracle's fee award was "dramatically excessive" and should be significantly reduced. Oracle and Rimini did not immediately respond to requests for comment. -- Eight U.S. states and the District of Columbia have asked a federal judge to award them legal fees for winning an order in federal court blocking Kroger's now-abandoned $25 billion deal for grocery rival Albertsons. U.S. District Judge Adrienne Nelson will weigh the fee request. The states did not ask for a specific amount, but the total could reach millions of dollars. -- President Donald Trump's pick to lead the Office of the Comptroller of the Currency, Jonathan Gould of Jones Day, disclosed $1.6 million in salary on an ethics form submitted, opens new tab as part of his nomination. Gould said he provided legal services to banking and financial clients including Citigroup, JPMorgan Chase, Wells Fargo and Goldman Sachs. In another filing, William Kimmitt, a nonequity partner at law firm Kirkland & Ellis, disclosed $254,000 in salary on an ethics form submitted as part of his nomination to a post at the U.S. Treasury Department. Kimmitt said he provided legal services to BASF and Dell, among other clients. Trump has turned to some of the country's biggest law firms to fill key slots, including Jones Day; Gibson, Dunn & Crutcher; and WilmerHale. Flush with cash, law firms eye uncertain economy Law firm Venable hit with $10 mln lawsuit by ex-client in FDA fight
The Hill
13-03-2025
- Business
- The Hill
‘No pain, no gain' is the motto of the new Trump economy
Why is President Trump starting trade wars with our largest trading partners? Why does he risk inflation, recession and a stock market correction? Why is he so obsessed with tariffs? If you really want to know, all you have to do is look at this map. Created by economist Mark Perry, it shows the relative size of the economy of each U.S. state compared to countries with commensurate GDP. It's eye-opening. California's economy is bigger than the United Kingdom's. Pennsylvania's is bigger than that of South Korea. Mexico, with a population of 130 million, its economy is only the size of Florida's (23 million). Canada's economy is smaller than that of Texas. In fact, for all their bluster, it's no secret to the leaders of both Mexico and Canada that the U.S. economy is eight times larger than both of their countries' economies combined. Trump knows this map very well. He knows that America's economy is huge. He's fully aware that it's the biggest, most stable and most judicial in the world. It's bigger than China. It dwarfs Russia'. And it certainly dominates all the European countries (even combined), not to mention Canada and Mexico. To him, something doesn't make sense. Why should the world's biggest economy be treated unfairly? Trump doesn't think it's fair that German's tariffs on American cars are 10 percent compared to the 2.5 percent rate we charge on theirs, so he wants reciprocity. He's not amused over the fact that dairy products purchased from Canada can be priced as much as 200 to 300 percent higher than what we're selling back. Or that Mexico has a 16 percent 'value-add' tax to most imported products. Trump wants parity. Like any business person, he doesn't want to see costs go up. In fact, he wants to bring them down. His aim is for other countries to simply lower the artificially raised prices of their goods so that American companies and consumers can buy them cheaper — just like the citizens in their countries can do with the products we sell them. And if countries aren't going to level the playing field, then he's prepared to make our goods more expensive for their businesses and consumers. Sometimes you have to endure some pain to get to that goal. To level the playing field, Trump wages a tariff war. He bumps up the tax charged on foreign products to discourage consumers from buying them and corporations from using them to build their products. By doing so, he encourages companies to buy and make those products in the U.S., which in turn rebuilds the infrastructure we have lost over the past five decades and adds jobs. Of course this will take time. But have patience. Trump can wage this war because he has the world's largest weapon: the U.S. economy. When a consumer of our size changes its buying patterns, it can have a devastating effect on others. Canada and Mexico can talk a big game. But the U.S. has all the resources to outlast them in the long run. Of course, higher tariffs will cause higher prices. Yes, they will generate disturbances in supply chains. They're disruptive to markets. They create uncertainty, and even anger our partners. But Trump asks: shouldn't we be angry too? Is it right that we pay so much more for products when we're in such a position of power? Usually it's the big guy — the large corporations — that squeezes the smaller guy (I know this. I'm the smaller guy). So why is that not happening with international trade? Will Trump's trade war work? Economists hate it. Academics hate it. But business people? Well, that depends. My clients in the construction industry aren't too happy about potentially paying more for Canadien lumber. Some farmers aren't thrilled either. But those I work with in the steel industry are cheering. So are companies that manufacture furniture and cabinets in the U.S. that have been faced with the dumping of competing products from China. Automakers are thrilled. Unions like it. Equipment and material manufacturers want more. Long term, U.S. businesses will adapt. They will bring more work back here. They will re-invest in infrastructure particularly, as Trump also plans, by taking advantage of tax incentives to be soon passed. U.S. businesses will find new trading partners located in countries that offer a fairer playing field. They will re-negotiate terms with existing overseas suppliers who are facing a serious slowdown in orders from these biggest customers spiked by higher tariffs. They will pivot and adjust and alter their buying patterns. They can do this freely, legally and with minimal interference because they operate in the world's largest and most powerful economy. And they can do this with more ease than their counterparts in most other countries that face more regulations and bureaucracy. What will ultimately happen is that these countries will come, hat in hand, to the negotiating table. Tariffs will never be eliminated. But they will be corrected, and more in the favor of U.S. interests. There will be no choice. This will happen. If you don't believe me, just look at the map.
Yahoo
03-03-2025
- Politics
- Yahoo
Field trip for St. Paul 'students of color' canceled after discrimination complaint filed
ST. PAUL, Minn. (FOX 9) - A community member who lives in the Twin Cities said he filed a complaint with the Office of Civil Rights on Tuesday after seeing a parent's concern online over a field trip at a St. Paul Public Schools High School that allegedly restricted participated. The field trip The incident in question was a field trip planned for some students at Highland Park Senior High School to a Minneapolis marketing agency that was supposed to take place Thursday. The field trip description said it was open to 11th and 12th graders who "identify as a student of color." The concern Mark Perry, a retired university professor, said over the past five years or so, he has filed nearly 1,000 complaints for alleged discrimination at universities, colleges, and schools that receive federal funding across the country. Perry said his complaints focus on alleged violations of Title IX, which prohibits discrimination on the basis of sex. And in this case, he alleges a violation of Title VI of the Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, or national origin. School takes immediate action Perry said within hours of contacting the school about this matter, he received a message back that the field trip had been canceled. "They maybe should have understood that this was a problem before, but at least once it was brought to their attention, that's the least I can expect then that they would do the right thing and comply with federal civil rights laws. Which in this case, was canceling the program or I guess maybe it was too late to open it up to all student," said Perry. School district responds A spokesperson for St. Paul Public Schools said it had partnered with a non-profit organization that provides programs like this one. "Saint Paul Public Schools values our partnerships with community organizations like The BrandLab and the opportunities they provide for our students. The district remains committed to providing post-secondary and career-related opportunities for all of our students to pursue their passions," said Erica Wacker, district spokesperson for St. Paul Public Schools. What's next Perry said he will withdraw the complaint.
Yahoo
01-03-2025
- Politics
- Yahoo
Minnesota school cancels career event after anti-White discrimination complaint
Highland Park Senior High School canceled a field trip after a retired teacher filed a discrimination complaint. The St. Paul high school district in Minnesota had set up a career event for students who "identify as a student of color" to help expose them to digital marketing and advertising careers, The Minnesota Star Tribune reported. Retired professor Mark Perry responded by arguing it violated Title VI of the federal Civil Rights Act and the anti-discrimination policy of the district itself. This is one of many schools across the nation that have made headlines for hosting events that purportedly appeared to exclude White students. "Just as it would be illegal and objectionable for [Highland Park Senior High School] to offer a field trip that explicitly excluded students of color... it's equally illegal and objectionable to host a racially segregated field trip exclusively for 'students of color,'" Perry wrote in a letter Tuesday to Principal Winston Tucker and the The BrandLab agency behind the event. Perry reportedly described himself in this letter as a "full-time civil rights activist who has successfully filed nearly 1,000 federal civil rights complaints against many hundreds of U.S. colleges, universities and K-12 public schools." California State University Changes 'Illegal' Program That Excluded White Men Tucker reportedly told the retired professor that very day that The BrandLab was canceling the event. Read On The Fox News App Perry had also reportedly called out the district with a similar civil rights complaint for planning a "Girls in Science" learning program, which has changed to a "Kids in Science" program. While he filed his complaint this week with the U.S. Department of Education's Office of Civil Rights in Chicago, the Star Tribune reported that he now plans to withdraw it "once a case number for the complaint is assigned." With the event now being canceled, "the basis for a Title VI complaint no longer exists," he said. St. Paul Public Schools spokesperson Erica Wacker responded to the incident by arguing the district is careful about its anti-discrimination policy. One example she cited to The Star Tribune is that National African American Parent Involvement Day is "designed for a specific group of people, but it's open to anyone." She contested that when mistakes are made, however, they typically are due to an external partner. Click Here For More Coverage Of Media And Culture Wacker told Fox News Digital, "From the school district's perspective, Saint Paul Public Schools values our partnerships with community organizations like The BrandLab and the opportunities they provide for our students. The district remains committed to providing post-secondary and career-related opportunities for all of our students to pursue their passions." The BrandLab also spoke to The Star Tribune, declaring it is "committed to inclusivity in marketing and advertising, truly representing the world we live in," and that it is working with the same high school to set up a new event. The BrandLab's declares on its website that it seeks to "empower young talent from Indigenous, Black, Brown, AAPI and Hispanic/Latinx backgrounds." Fox News Digital reached out to The BrandLab and received a response from its CEO, Kelli Williams. "The BrandLab is a nonprofit organization based in the Twin Cities with operations in Milwaukee as well. The organization has been in existence for over 15 years and is committed to inclusivity in marketing and advertising, truly representing the world we live in," Williams' statement read. Williams confirmed the trip was indeed canceled. "One of our programs provides exposure opportunities for high school students to learn more about the advertising and marketing professions through field trips to local agencies and businesses. We were working with Highland Park High School to find 11th and 12th grade students interested in attending a field trip on Thursday, February 27th," she wrote. "There was a complaint filed regarding this field trip. As a result, we did cancel the field trip for Thursday. " While Fox News Digital had asked in an inquiry about whether "inclusivity" means also including White students, and whether the new event will include students of all races, Williams addressed about the importance of DEI in the current political climate. "We are working to find an opportunity for students from Highland Park High School to attend a field trip before the end of the school year," her statement read. "Due to evolving policies and economic pressures, companies are being challenged to reevaluate their commitments to diversity, equity and inclusion (DEI). Some governmental, corporate and philanthropic funders have redirected resources elsewhere. In response, The BrandLab calls for supporters to ensure that our mission not only endures but expands. The stakes have never been higher, and this support is crucial in sustaining and growing our impact at this pivotal time."Original article source: Minnesota school cancels career event after anti-White discrimination complaint
