Wagner Raises Russian Flag In Center Of Bakhmut, But Fighting Still Rages

Wagner Raises Russian Flag In Center Of Bakhmut, But Fighting Still Rages

Russia’s Wagner paramilitary group in the overnight hours on Monday has claimed victory (or at least a partial victory) over Bakhmut by raising the Russian flag as well as its own PMC Wanger Group flag over central government administration buildings of Bakhmut. 

Wagner chief Yevgeny Prigozhin described that the key city in Donetsk is “ours” but only in a “legal sense”. He wrote on Telegram: “The commanders of the units that took city hall and the whole center will go and put up this flag,” he said in reference to a Russian flag being raised in the accompanying video. “This is the Wagner private military company, these are the guys who took Bakhmut. In a legal sense, it’s ours.”

About two weeks ago Prigozhin claimed that Wagner and Russian forces controlled 70% of the utterly destroyed town, and as the Ukrainians were mounting a stiff defense, pouring more resources into the months-long fight.

Hours prior to Prigozhin video showing the flag-raising against a dark night sky, the Ukrainian general staff acknowledged that “the enemy has not stopped its assault of Bakhmut… Ukrainian defenders are courageously holding the city as they repel numerous enemy attacks.”

The announcement was meant to convey that the Ukrainian Army still considers that it “holds” Bakhmut. Russian sources say Ukrainian fighters are still concentrated on the Western outskirts.

However, going into the weekend it was already clear that Wagner fighters were on the cusp of taking the city center…

On Sunday President Zelensky was still sounding somewhat optimistic regarding the fate of Bakhmut

“I am grateful to our warriors who are fighting near Avdiivka, Maryinka, near Bakhmut… Especially Bakhmut! It’s especially hot there today!” Zelensky said in his own post to Telegram.

Near Bakhmut, about 27 kilometres (17 miles) away in Kostyantynivka, a “massive attack” of Russian missiles left three men and three women dead and eleven wounded Sunday, Ukrainian authorities said.

Zelensky said the affected zones are “just residential areas”, where “ordinary civilians of an ordinary city of Donbas” were targeted.

Zelensky in an interview last week suggested that he may be forced to negotiate with Russia if his forces are definitively defeated at Bakhmut, while also hinting at huge losses.

Tyler Durden
Sun, 04/02/2023 – 22:00

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Federal Judge Blocks Tennessee Law Banning Drag Shows With Minors Present

Federal Judge Blocks Tennessee Law Banning Drag Shows With Minors Present

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

A U.S. judge on March 31 blocked a Tennessee law that forbids drag shows being held while minors are present.

“At this point, the court finds that the statute is likely both vague and overly-broad,” U.S. District Judge Thomas Parker, a Trump appointee, said in a 15-page ruling.

Audience members gather in the Tennessee Theatre to watch “A Drag Queen Christmas” show in Knoxville, Tennessee, on Dec. 22, 2022. (Jackson Elliott/The Epoch Times)

Parker imposed a temporary restraining order that blocks the law from taking effect.

The law (pdf), signed by Tennessee Gov. Bill Lee, a Republican, on March 2 after being approved by GOP legislators, had been set to take effect on April 1.

The law makes it a criminal offense for a person to “perform adult cabaret entertainment” on public property or in a place where it could be viewed by a minor. Adult cabaret entertainment is defined in the law as shows featuring strippers, men dressed as women, and similar entertainers.

Friends of George’s, a nonprofit that holds drag shows in Memphis, sued state officials, alleging the law violated rights granted by the U.S. Constitution’s First Amendment and is discriminatory on the basis of viewpoint.

Tennessee “does not have a compelling interest in preventing minors from watching drag show,” one of the filings from the plaintiffs stated. It also argued that the statute was too vague because “it does not give citizens a reasonable opportunity to know what conduct is prohibited; nor does it give law enforcement explicit standards by which to enforce the law.” Friends of George’s said that it would have to cancel its next production, which is slated to start on April 14, or add an age restriction if the law was not blocked.

State defendants said that the plaintiff had not shown it would be injured by the law because it had not asserted its production would violate the law.

“Plaintiff makes no allegation that it intends to engage in conduct that 2023 Pub. Ch. No. 2 prohibits,” they said.

Parker sided against the state, finding that Friends of George’s “has to try to sell tickets while deciding whether it should add a previously unnecessary age restriction, cancel the show, or risk criminal prosecution or investigation.”

“These are not trifling issues for a theatre company—certainly not in the free, civil society we hold our country to be. Defendants’ approach would have Plaintiff, and those similarly situated in Tennessee, eat the proverbial mushroom to find out whether it is poisonous. The law does not require that for standing,” the judge added.

Parker said that the law is unconstitutionally vague and overboard in part because the law “reaches the conduct of performers virtually anywhere.”

“What exactly is a location on public property or a ‘location where an adult cabaret entertainment could be viewed by a person who is not an adult’?” he wondered. “Does a citizen’s private residence count? How about a camping ground at a national park? What if a minor browsing the worldwide web from a public library views an ‘adult cabaret performance?’ Ultimately, the Statute’s broad language clashes with the First Amendment’s tight constraints.”

The temporary restraining order is in place for 14 days, unless it is extended. Additional hearings in the case will be scheduled soon.

Lee’s office did not immediately return a request for comment. The office of Tennessee Attorney General Jonathan Skrmetti did not pick up the phone.

“We won because this is a bad law,” Mark Campbell, president of the board of directors for Friends of George’s, said in a statement. “We look forward to our day in court where the rights for all Tennesseans will be affirmed.

Tyler Durden
Sun, 04/02/2023 – 21:00

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“Strangers on the Internet” Podcast Episode 26: A Jeopardy Champion Seeking Answers

The twenty-sixth episode (Apple Podcasts link here and Spotify link here) of Strangers on the Internet with co-host and psychologist Michelle Lange has us talking to Nick (a pseudonym), a Jeopardy champion in his late 30s whose work has taken him from academia to the policy world.

Originally from NYC, he has tried his luck at dating all across the country and abroad. Nick talks about the difficulties with finding a significant other who shares his interests and values, as well as with staving off his family’s old-fashioned requirements for his future partner.

Does Nick think that his identity as an Asian-American man has led to being stereotyped and devalued on dating apps (including via not receiving a right-swipe from even one woman during a stay in Denver)? Would he have an easier time if he earned more money, or if he didn’t label himself politically moderate? Come hear about this brainy dater’s quest for love!

The post "Strangers on the Internet" Podcast Episode 26: A Jeopardy Champion Seeking Answers appeared first on Reason.com.

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The Big DEI Gulf On Campus: It’s Much More Than He Said/Ze Said

The Big DEI Gulf On Campus: It’s Much More Than He Said/Ze Said

Authored by John Murawski via RealClear Wire,

The fight over academic freedom on campus increasingly comes down to a fight over three letters – DEI – which goes a long way to explaining the fissures now tearing higher education apart.  

For progressives committed to social justice advocacy, academic freedom must shield the prevailing academic consensus on race and gender from outside political pressure. Nowhere is that academic consensus better represented in the modern university than in the campus Diversity, Equity, and Inclusion (DEI) bureaucracy, which exists to advocate for students and faculty who identify as brown or queer, often by monitoring the campus culture for “whiteness” and “cisheteropatriarchy” —  the social dominance of white, heterosexual men.   

Conservative reformers also see themselves as defending academic freedom by challenging the progressive campus orthodoxy that’s enforced by DEI functionaries in the name of social justice. Critics of DEI say that these are overzealous bureaucrats who stifle the academic freedom of anyone who dares to dissent from their monocausal, moralistic metanarratives about race and gender.   

These critics note numerous studies that show the climate of fear and self-censorship on campus today is worse than it was during the Cold War McCarthyism of the 1950s. The free speech advocacy group Foundation for Individual Rights and Expression (FIRE), for example, reported in February that about half of faculty reported being worried “about losing their jobs or reputation because someone misunderstands something they have said or done, takes it out of context, or posts something from their past online.”   

Conservatives link the rise of campus illiberalism and censoriousness to the expansion of DEI offices during the last decade, which they say politicizes the campus through a DEI apparatus that exerts its administrative power through bias hotlines, sensitivity workshops, and speech codes.  They condemn DEI statements in admissions, hiring and promotions decisions as de facto “political litmus tests”; these diversity statements “have become a mainstay of application processes for faculty jobs,” according to the Chronicle of Higher Education.   

“We cannot live up to our mission as a university unless we attend to inequity, both past and present,” said Mimi Chapman, the faculty chair at the University of North Carolina, at a recent board of trustees meeting.  

Today, half of faculty support the practice of requiring job applicants to commit to DEI advocacy in their teaching and research, according to FIRE. And progressive faculty are not troubled about political homogeneity, as long as it aligns with their politics: 57% of liberal faculty say that advancing race and gender diversity is more important than promoting political viewpoint diversity.  One such professor is Stacy Hawkins, vice dean and professor of law at Rutgers Law School, who wrote an opinion piece last month for The Chronicle of Higher Education, “Sometimes Diversity Trumps Academic Freedom.” Hawkins contends that conservative opposition to CRT is not a legitimate exercise of academic freedom because “the opposition to CRT is designed to silence, further marginalize, and diminish the value of minority voices and experiences.”   

“Some people’s right to express themselves cannot come at the expense of other people’s right to dignity, safety, and equal participation in the academic community,” Hawkins wrote. “Rather than willingly cede DEI wholesale to academic freedom, perhaps it is time to reshape our understanding of academic freedom.”  

High school seniors across the political spectrum are so aware of the ideological divides on campus that one in four has ruled out attending a higher education institution because of its political climate, according to a survey reported in The Chronicle of Higher Education.   

The U.S. campus has been transformed in recent years by the explosion of diversity offices and diversity jobs, said Ilya Shapiro, the director of Constitutional Studies at the conservative Manhattan Institute, who is working on a book about the ideological capture of the nation’s law schools through the bureaucratization of DEI initiatives.   

Shapiro is among those who say that university administrators are more politically radical than the professoriate, and that their ideological commitment corrupts the core mission of higher education. Based on his research, between 1987 and 2012, the nation’s universities added more than a 500,000 administrators, so that around 2010, universities started employing more administrators than full-time instructors, and in some elite institutions the administrators now even outnumber the students. Most administrators are not DEI bureaucrats, but DEI is now the fastest-growing segment of the educational bureaucracy, Shapiro found, so that the average college has more people devoted to DEI – exceeding 45 per campus – than the number of professors teaching history.   

“In any bureaucracy, bureaucrats are incentivized to justify their positions, grow their authority, increase their budgets,” Shapiro said. “So in the DEI space, they have to search for dragons to destroy – cases of racism, sexism, transphobia – all of these -isms and -phobias.”  

The National Association of Diversity Officers in Higher Education’s 35-page antiracism guide confirms this picture, stating that “Higher education systems are a complex web of practices, policies, and procedures steeped in White normativity.”   

The organization’s brochure encourages “using critical race theory as a framework for making sense of racism in curricula, instruction, and assessment in education.” And the DEI trade group warns: “DEI cost-cutting sends a powerful message that BIPOC [black, indigenous and people of color] students, faculty, and staff are expendable.”  

The explosion of DEI employment opportunities and growing budgets is leading to a proliferation of DEI certifications, DEI minors, and even DEI majors at the university level. One example is the DEI major launched in 2021 by Bentley University in Waltham, Mass., to train chief diversity officers and chief inclusion officers for in-demand careers in a growing field.   

Bentley’s course catalog is imbued with activist jargon and revolutionary rhetoric. In an introductory course, “Students will understand and critically analyze issues of oppression, power and privilege as they intersect with themselves as well as others.” In a course about race relations, “Students will leave this class with a heightened awareness of the racism in all of your own everyday lives and how to resolve it.” A course about the legal system “examines law as both an instrument of institutionalized oppression and a tool for liberation.”   

Bentley also offers a course linking the monstrosities of slavery to capitalism, a claim also made by the self-described “antiracist” advocate Ibram X. Kendi in his 2019 book, “How To Be an Antiracist,” and “The 1619 Project” published in 2019 by The New York Times and reissued as a book last year. All of these claims and arguments have been advanced by critical race theorists for decades, “centering” racism, oppression, and violence as the defining features of the United States.   

“A long history of scholarship in sociology ties U.S. slavery to the development of capitalism and modern business and finance,” the course description states. “This course is designed to give students a framework for appreciating the centrality of the relationship between slavery and capitalism in the U.S., and translating that into new ways of understanding how tacit racism, hidden and unacknowledged, is structured into business and society today.”  

At the same time, grant funding from federal agencies is increasingly contingent on diversity and equity commitments. For instance, starting in FY2023, U.S. Department of Energy grant applications require applicants to describe how they’ll incorporate diversity and equity into their research projects, and those strategies will be evaluated as part of the merit review process.   

DEI is also becoming part of the accreditation process required by the U.S. Department of Education for universities to qualify for federal funding, including federal student loans and other forms of financial aid, such as Pell grants. Medical schools are now required to provide faculty training in DEI and cultural competency, according to a 2022 City Journal article, pressuring the schools to expand their DEI bureaucracies. And regional accreditors that certify undergraduate colleges and universities now endorse or mandate DEI training and DEI offices, according to a Heritage Foundation report issued in February.   

However, universities are not limited to a single accreditor and can apply to multiple accrediting agencies if they run into conflicts.   

Belle Wheelan, president of the Southern Association of Colleges and Schools Commission on Colleges, which currently accredits the universities in Florida that Gov. DeSantis is seeking to reform, said in an interview with RealClearInvestigations that of the seven regional accrediting agencies, her organization is the only one that doesn’t require DEI to earn accreditation. But she said SACS is moving forward with adopting a DEI mandate that would be effective in January 2024. She said that SACS allows universities to define “diversity,” so that it does not have to be based on race and gender and can be defined as “viewpoint diversity.” Wheelan noted that SACS has issued accreditations to three private conservative Christian colleges: Patrick Henry College, Liberty University and Bob Jones University.   

DEI practitioners say their jobs focus on making universities more representative and more welcoming to first-generation students, disabled students, and returning military veterans, not just advocating for people who identify as brown and queer.   

Yoleidy Rosario-Hernandez, who headed the Office of Outreach and Inclusive Excellence at New College of Florida, granted an interview to The Washington Post after getting fired from her $135,000-a-year job by the newly constituted board of trustees. Rosario-Hernandez, who identifies as BIPOC and transgender and uses ze/zir pronouns, described the conservative critique of DEI mandates as coming from a position of “white supremacy.”  

Rosario-Hernandez categorically rejected the conservative accusation that DEI divides people into two groups – the “oppressors” and the “oppressed.”   

Instead, DEI promotes reconciliation between two groups – “people who are harmed” and “people who have harmed them.”  

Tyler Durden
Sun, 04/02/2023 – 20:00

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Leaks From Bragg’s Grand Jury Are A Crime

Leaks From Bragg’s Grand Jury Are A Crime

Authored by Alan Dershowitz via New York Sun,

The protection of secrecy is as applicable to President Trump as it is to anyone else…

It is likely that a serious felony has been committed right under District Attorney Alvin Bragg’s nose and he is not investigating it. Under New York law, it is a felony to leak confidential grand jury information, such as whether the jurors voted to indict. The protection of secrecy is as applicable to President Trump as it is to anyone else. 

We know that the information was disclosed while the indictment itself remains sealed and before any official announcement was made or charges brought. It is unlikely that the leak came from the Trump team, which seemed genuinely surprised.

The most likely, though uncertain, scenario is that a person in Mr. Bragg’s office or a grand juror unlawfully leaked the sealed information. That would be a class E felony, subject to imprisonment.

It is possible of course that an investigation is underway, but it seems more likely that Mr. Bragg is too busy making up a crime against the man he promised in his campaign to get than investigating a real crime that took place on his watch.

In my new book, “Get Trump,” I predicted that partisan prosecutors would try to get Trump regardless of the lack of evidence or law. That prediction has come true. Since the indictment itself has not been leaked — at least not yet — we don’t know its specifics. We do know, based on leaks, that it involves multiple counts, almost certainly involving the payment of hush money to a porn actress.

Under Mr. Bragg’s likely theory, Mr. Trump should have disclosed in his public corporate records that he paid the hush money to avoid his adulterous affair from becoming public. But no one in history has ever publicly disclosed the reason he paid money for a non-disclosure agreement.

Why would Mr. Trump pay the money in the first place if he had to publicly disclose the embarrassing reason? Furthermore, no one in history has ever been indicted for listing “legal expenses” for setting a potentially embarrassing payment of hush money.

Thus, even the misdemeanor allegation involving false entries is unprecedented and represents selective prosecution. It is also almost certainly barred by the two-year statute of limitations. In order to elevate this bookkeeping case into a felony, Mr. Bragg must also prove beyond a reasonable doubt that the reason Trump made the false entry — if he himself did it — was solely as a campaign contribution to help him win his election.

If Mr. Trump was motivated in part by his desire to protect his wife, children, and business interests from harmful disclosures, that would not constitute the crime of making an undisclosed campaign contribution. So this too is a stretch.

It is a fundamental tenet of American law that criminal law should not be stretched to fit targeted defendants. Criminal statutes must be clear and unambiguous. If there is any doubt, the age-old concept of “lenity” requires that these doubts be resolved in favor of the defendant.

Thomas Jefferson once quipped that for a criminal statute to be valid, it must be so clear that a reasonable person could understand it if he read it “while running.” A nice image!

I intend to read the text of the indictment, while sitting, with 60 years of experience behind me. I doubt I will find that it meets the constitutional criteria for “fair warning,” although I maintain an open mind until I have studied it carefully.

The important point is that when a district attorney ran for office as a Democrat pledging to get Mr. Trump, who is a candidate for president against the incumbent Democrat, that district attorney must have an airtight case.

A weak, questionable, unprecedented, and novel stitching together of two inapplicable statutes, will not, and should not, satisfy the American public that this is not a partisan targeting of a political opponent.

Tyler Durden
Sun, 04/02/2023 – 19:00

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“Markets Will Always Outsmart The Best AI Systems That Our Computer Scientists Develop”

“Markets Will Always Outsmart The Best AI Systems That Our Computer Scientists Develop”

By Eric Peters, CIO of One River Asset Management

“Powerful AI systems should be developed only once we are confident that their effects will be positive, and their risks will be manageable,” read the open letter [here], signed by countless luminaries from the technology industry and various other fields.

Emad Mostaque, CEO of Stability AI, a leader in the generative AI space inked it. Many less prominent researchers did too.

“We call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.”

Elon Musk was a signatory, and of course, he’s building an AI driving system which is remarkable but has a long way to go.

Based on my personal experience, it has achieved rough parity with a drunk sixteen-year-old.

Or, in economic policy terms, Tesla’s AI has reached singularity with the government’s team responsible for stress testing regional banks.  Naturally, it surpassed the Fed’s inflation forecasting team many months ago.

And without reliable inflation estimates, it’s no wonder that our central bank’s interest rate forecasts are such a poor indicator of future policy rates. Financial markets are consistently superior to any group of forecasters, even the mob at the Fed who not only have the economy’s most comprehensive data sets, but who can also directly manipulate markets to make their forecasts come true.

Such teams of experts are no match for free markets, which are humanity’s first glimpse of a true AI. The collective wisdom of the crowd is a clear superhuman intelligence. That is not to say markets are infallible. But they are infinitely adaptable, resilient, and evolve to exploit our vulnerabilities, fears, secrets. At scale, such systems, move money from weak hands to the strong.

And so long as humans are the key decision makers in our economic and political systems, markets will outsmart the best AI systems that our computer scientists develop. But as in all battles for survival, superiority, strong hands will figure out how to harness AI to strengthen our advantage as we trade, invest.

Tyler Durden
Sun, 04/02/2023 – 18:30

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Kentucky Governor Signs Bill Banning ESG Investment In Public Pensions

Kentucky Governor Signs Bill Banning ESG Investment In Public Pensions

Authored by Frank Fang via The Epoch Times (emphasis ours),

Kentucky Gov. Andy Beshear, a Democrat, has signed into law a measure that requires the state’s public pension funds to make investment decisions on financial risks and returns, rather than environmental, social, and governance (ESG) factors.

Kentucky Governor Andy Beshear walks to his seat before the start of a meeting between U.S. President Joe Biden and governors visiting from states around the country in the East Room of the White House in Washington, DC, on Feb. 10, 2023. (Anna Moneymaker/Getty Images)

Beshear signed House Bill 236 into law on March 24, mandating the state’s fiduciaries to solely consider factors that have a “direct and material connection to the financial risk or financial return of an investment,” according to the language of the bill.

It bans actions on “nonpecuniary interests,” including “environmental, social, political, or ideological interest” without a connection to the financial performance of an asset.

State Treasurer Allison Ball, a Republican, touted the new law, saying “Kentucky now has the strongest anti-ESG legislation in the nation,” Just the News reported on March 28.

“For many years, pension investments were about maximizing returns,” Ball added. “Recently, however, there has been a destructive shift in investment methodology to use the savings of Americans as financial muscle to push ideological causes through the ESG movement.

“Kentucky has said no to this shift by passing HB 236, which clarifies that pension fiduciaries must base investment decisions solely on financial metrics, not politics.”

The state’s House passed the legislation 77–17 on March 2 and the state’s Senate passed it on March 13 after a 32–5 vote. Republicans hold supermajorities in both chambers of the state legislature.

Heritage Action for America, a grassroots conservative advocacy group, issued a statement on March 24 applauding the Kentucky General Assembly and Ball for “their efforts to protect citizens from the harms of the radical ESG movement.”

“With the ESG movement infiltrating businesses and threatening Americans’ finances, it’s now more important than ever to ensure that asset managers are following through with their fiduciary responsibilities,” said Jessica Anderson, the group’s executive director. “As the first bill of its kind to be enacted, HB 236 will require asset managers to prioritize the investment returns and financial interests of Kentuckians.”

Anderson added, “This is a historic victory for Kentucky and will be an example for other states to follow as they look to protect their state industries, investments, and workers.”

We look forward to even more states across the country adopting this approach and taking additional steps to rid our states of woke finance.”

Ball was in Washington on March 9, taking part in a bill-signing ceremony held by House Speaker Kevin McCarthy (R-Calif.). That day, McCarthy signed a resolution introduced by Rep. Andy Barr (R-Ky.) to block a Labor Department rule that allows pension fund managers to consider ESG factors in investment decisions.

House Speaker Kevin McCarthy (R-Calif.), with Kentucky State Treasurer Allison Ball standing behind him (far right), signs a resolution to block a Biden administration rule encouraging retirement managers to consider environmental, social, and corporate governance (ESG) factors when making investment decisions, during a bill signing ceremony at the U.S. Capitol in Washington on March 9, 2023. (Drew Angerer/Getty Images)

“I’m here to support what is happening as a Kentucky and as the state treasurer of Kentucky,” Ball said at the ceremony. “I have been fighting to make sure our pension systems are strong and people can retire, so I’ve been pushing back against the ESG movement.”

“We don’t need to push ideological agendas. We don’t need to push anything that is progressive,” she added. “We need to focus on getting good returns so people can retire at the end of their work life.”

However, President Joe Biden vetoed the resolution on March 20, saying the measure would “put at risk the retirement savings of individuals across the country.”

The House failed to override Biden’s veto after a 219–200 vote on March 23, falling short of the two-thirds majority threshold needed.

After Biden’s veto, Ball took to Twitter to express her disappointment.

“He believes political agendas are more important than returns. In reality, ESG funds have underperformed the broader market over the past 5 years. Retirements are about returns, not politics,” she wrote.

Ball, who has been the state treasurer since 2016, is currently running to be Kentucky’s next state auditor. Meanwhile, Beshear is running for re-election as the governor of Kentucky.

Tyler Durden
Sun, 04/02/2023 – 18:00

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Did Bud Light Go ‘Woke’ With Trans-TikTok Star? Boycott Calls Intensify

Did Bud Light Go ‘Woke’ With Trans-TikTok Star? Boycott Calls Intensify

The manliest beer in America for hardworking, blue-collar folks seems to have found a new spokesperson this weekend during the March Madness Final Four basketball games: trans-TikTok star Dylan Mulvaney.

We’re not entirely sure if it’s an April Fool’s joke or if Bud Light, owned by Belgian company AB InBev, sponsored Mulvaney, but it sure appears so. Here’s what the trans-TikToker said:

“Verified Happy March Madness!! Just found out this had to do with sports and not just saying it’s a crazy month! In celebration of this sports thing @budlight is giving you the chance to win $15,000! Share a video with #EasyCarryContest for a chance to win!! Good luck! #budlightpartner. “

Bud Light also appears to have created a special edition Dylan Mulvaney Can to celebrate his 365 days of girlhood. 

Add Bud Light to the list of corporations going ultra-‘woke.’ 

… and just like that, those on Twitter have already called for boycotts of the beer. 

Perhaps now it will be “Miller Time” for boycotters. 

Tyler Durden
Sun, 04/02/2023 – 17:30

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CDC Research Team Members Fell Ill Studying Toxic Ohio Derailment, Agency Confirms

CDC Research Team Members Fell Ill Studying Toxic Ohio Derailment, Agency Confirms

Authored by Samantha Flom via The Epoch Times (emphasis ours),

Nearly half of a government team investigating the potential health effects of a toxic train derailment in East Palestine, Ohio, fell ill while conducting their research, according to the Centers for Disease Control and Prevention (CDC).

In a March 31 statement provided to The Epoch Times, CDC spokesperson Belsie Gonzalez advised that the illnesses occurred on March 6, when seven members of a 15-person team of CDC and Agency for Toxic Substances and Disease Registry (ATSDR) staff reported symptoms such as sore throat, headache, coughing, and nausea.

Their symptoms, Gonzalez noted, were consistent with those reported by some East Palestine residents and first responders, whom the team was surveying to assess the potential health effects of their exposure to the chemicals released by the Feb. 3 derailment.

A resident displays a mannequin on their porch in East Palestine, Ohio, as cleanup from the Feb. 3 Norfolk Southern train derailment continues, on Feb. 24, 2023. (Matt Freed/AP Photo)

Sore Throats, Headaches, Nausea

“Following protocol, team members reported the symptoms to federal safety officers,” she said.

“Symptoms resolved for most team members later the same afternoon, and everyone resumed work on survey data collection within 24 hours. Impacted team members have not reported ongoing health effects.”

Gonzalez added that the survey collection process, which started mid-February, will end on March 31.

“Once completed, CDC/ATSDR staff will analyze the data and provide it to state health officials in Ohio and Pennsylvania,” she said. “FEMA and EPA teams remain on the ground to support response efforts.”

News of the government employees’ illnesses followed the Department of Justice’s (DOJ) filing of a lawsuit on March 31 against Norfolk Southern, seeking to hold the railroad company accountable for “unlawfully polluting the nation’s waterways” through the toxic derailment.

“When a Norfolk Southern train derailed last month in East Palestine, Ohio, it released toxins into the air, soil, and water, endangering the health and safety of people in surrounding communities,” Attorney General Merrick Garland said in a statement.

‘Pursuing Justice’

“With this complaint, the Justice Department and the EPA are acting to pursue justice for the residents of East Palestine and ensure that Norfolk Southern carries the financial burden for the harm it has caused and continues to inflict on the community.”

Read more here…

Tyler Durden
Sun, 04/02/2023 – 17:00

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Tesla Reports Record Deliveries Of 422,875 In Q1 2023, Helped By Price Cuts

Tesla Reports Record Deliveries Of 422,875 In Q1 2023, Helped By Price Cuts

Tesla reported Q1 2023 deliveries on Sunday, posting a figure of 422,875 vehicles delivered, beating most current consensus Wall Street estimates. The company delivered 10,695 Model S/X vehicles and 412,180 Model 3/Y vehicles. 

Original analyst expectations were for 430,008 vehicles, according to Refinitiv data cited by Reuters. Multiple outlets are reporting the number as a miss (it was, compared to original estimates) and a beat (it was, compared to current lower-balled estimates). 

This Q1 figure was a 36% increase year over year and a 4% increase sequentially, compared to the 405,278 deliveries the company posted in Q4 2022. Bulls are likely to see the beat as good news, while bears will likely argue that the “beat” wasn’t enough given the drastic price cuts Tesla has put into place since the end of last year. 

“We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC,” the company’s release said. Despite this mix change, the Model S and Model X are becoming dwindling contributors to Tesla’s delivery bottom line. 

Martin Viecha, Tesla’s head of IR, said Sunday: “Sequential growth continues even in the first quarter.”

Analyst Dan Ives weighed in, reminding people that the figure reported keeps the company on pace for a 1.8 million delivery goal it had set for the year. Ives suggested this longer-term goal could be what drives sentiment in the stock in the upcoming week.

Ben Rose, president of Battle Road Research, told the New York Times: “While the precise impact of recent price cuts and tax credits are difficult to determine, both act as tailwinds for the company.”

Tesla bull Gene Munster told Reuters“If they wouldn’t have done the price cut, it would have been ugly. I think what it tells you is the economy is getting tough. They showed an acceleration, but they didn’t accelerate to the level that Elon had suggested it would.”

In the beginning of March, we noted that Tesla cut prices on its Model S and Model X vehicles. This decision followed its investor day event held at the end of February, wherein Elon Musk stated that price cuts had sparked demand for more affordable models.

Musk claimed that the demand for Teslas was nearly unlimited and would increase significantly as the company made its vehicles more affordable. The recent price reductions for the S and X models implied at the time that these vehicles may not have experienced the same boost in demand as the rest of the lineup when the company reduced prices earlier this year. The Q1 figures seem to tell that same story. 

In January, Tesla slashed the prices of its more affordable vehicles by as much as 20%, which enabled buyers to qualify for the tax incentive by putting the vehicles under a $55,000 cap. Musk directly addressed the price cuts during the investor day, stating: “We found that even small changes in the price have a big effect on demand, very big.” 

Recall, days ago we highlighted work from GLJ Research’s Gordon Johnson, who slashed his delivery estimates due to pull forward of a “demand crush”. Johnson is of the camp that the tailwind provided by price cuts is already growing weary.

He said days ago that consensus for the quarter currently sat at 418,756, suggesting a “beat” is on tap. He was accurate about beating that figure, but says that the 1.8 million target for the year may not be the incredible news the street is looking for. 

“With our model pointing to an avg. 1Q23 price cut across all of TSLA’s cars of -$6.0K/car, or -11.7% QoQ, vs. sales growth of just +5.2% QoQ,” he said such a figure would be “nothing short of a disaster”. 

“Even if TSLA gets to 1.8mn cars sold in 2023 (i.e., 450K cars/quarter of sales), things still look (very) bad from an earnings perspective,” he wrote. Johnson’s estimate was for $2.67/share in EPS versus consensus of $3.98/share for Tesla for the year: 

So, taking an assumed 2023 profit per car of $9,196, then subtracting $4,500, one arrives at a new profit per car of $4,969. Then, applying the low-end of TSLA’s guidance for 1.8mn cars sold in 2023, or $4,969 * 1.8mn, one arrives at a 2023 net profit of $8.452bn. Finally, dividing this number (i.e., $8.452bn) by TSLA’s shares outstanding of 3.164mn, one arrives at an EPS of $2.67/share (vs. the current Consensus est. of $3.98/share, suggesting sharp cuts to TSLA’s earnings are on tap through 2023), or 71.8x earnings, and a -27.0% fall in EPS YoY. Consequently, even with a ~450K delivery number, the 2023 outcome for TSLA’s stock, as Consensus is forced to reckon with falling earnings, is likely (much) lower.

We’ll wait to see if those numbers are eventually updated due to the new delivery figures. 

Tyler Durden
Sun, 04/02/2023 – 16:30

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