Big Time News Blog: 10/22/19

Tuesday, October 22, 2019

Should billionaires exist?

Should billionaires, who own more wealth than half the world’s population, exist? Some progressive politicians have proposed plans that could make billionaires a thing of the past.

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Silicon Valley CEOs Appear to Have Chosen Their 2020 Candidate

(Bloomberg) -- The technology industry is looking for something different in a president in 2020. And it appears Pete Buttigieg is their candidate.While Joe Biden and Senator Elizabeth Warren are topping national polls in the contest for the Democratic Party’s nomination, California’s deep-pocketed Silicon Valley is donating to the 37-year-old mayor of South Bend, Indiana over the former vice president by a 5-to-1 margin.“Pete is a clean slate for the party in ways Biden can’t be,” said Cyrus Radfar, a 35-year-old technology entrepreneur and Democratic donor. “There’s new life and new energy that Pete brings, especially as the base of the Democratic Party is getting younger. I think he’s going to be on the national stage for a long time.”Buttigieg has staged a fundraising blitz in posh Northern California communities, holding events hosted by technology executives such as Netflix Inc. Chief Executive Officer Reed Hastings, Nest Labs home-automation company co-founder Matt Rogers, and Chelsea Kohler, director of product communications at Uber Technologies Inc., among others.Were he to win, Buttigieg would not only be the youngest president, but also the first openly gay one. While he is successfully raising money, Buttigieg has struggled until recently to enter the top tier of candidates nationally.But there are signs that he could be a moderate voter’s alternative to Biden. While raising money in California, Buttigieg is campaigning heavily in Iowa, and it appears both efforts are paying off. A USA Today/Suffolk University poll of likely Iowa caucus goers put Buttigieg just behind Biden and Warren for the first time. Biden had 18% support, Warren 17% and Buttigieg 13%.Millennial voters in the tech industry say they appreciate that Buttigieg’s liberal policies seem grounded in reality and recognize “a cutthroat world,” as Elizabeth Moran, 28, put it at a debate watch party in Silicon Valley’s Sunnyvale. Moran, who works at Poshmark, a social commerce platform, said she likes Buttigieg’s grasp of economics.“Well-educated recognizes well-educated,” Moran said, adding that Buttigieg could have come to Silicon Valley after graduating from Harvard as many Ivy League graduates do.In other words, in their eyes, Buttigieg is like them.“There’s a big move on the Democratic side to more heavily regulate tech, and that hasn’t been part of Buttigieg’s message,” said Raphael Sonenshein, executive director of the Pat Brown Institute for Public Affairs at California State University, Los Angeles. “His message is consistent with innovation and forward-looking technology. He has not given the impression that he would threaten their interests.”While he hasn’t said much about competition and antitrust, Buttigieg has focused on improving regulations as opposed to breaking up big tech.“We’re going to need to empower the FTC to be able to intervene, including blocking or reversing mergers, in cases where there’s anti-competitive behavior by tech companies,” he said in a CNN town hall in April, referring to the Federal Trade Commission.Buttigieg was his high school’s valedictorian and went on to Harvard, where he befriended two roommates of future Facebook Inc. CEO Mark Zuckerberg, and was one of the first 300 users on the social media platform. He was a Rhodes Scholar at Oxford, joined McKinsey & Co. as a consultant, and volunteered for Barack Obama’s tech-savvy 2008 presidential campaign before joining the U.S. Navy Reserve and serving in Afghanistan.His relationship with Zuckerberg persisted. Zuckerberg, 35, visited South Bend in 2017 while doing research for his philanthropic organization, the Chan Zuckerberg Initiative, and got a personal tour from Buttigieg. That relationship lasted into this year, when Zuckerberg and his wife, Priscilla Chan, recommended two people that Buttigieg ultimately hired for his campaign. Ben LaBolt, a spokesman for Zuckerberg and Chan, said the couple hasn’t yet decided whom to support for president.The Golden StateCalifornia voters have an unusually large influence in choosing the party’s nominee this cycle. The state primary next year is in March instead of its previous June slot and its donors contributed 1 of every 5 dollars raised by the party’s presidential candidates in the first six months of this year, data from the Center for Responsive Politics show.Buttigieg is second only to home-state senator Kamala Harris in the percentage of his campaign money that comes from California. Harris got 45% of her donations from Californians, Buttigieg got 22%.Harris, who was the state’s attorney general, raised $1 million from California lawyers, more than twice as much as any other candidate. She was also the top recipient of donations from employees of the entertainment industry. But California employees of tech companies, including giants like Facebook, Amazon.com Inc. and Microsoft Corp., backed Buttigieg more than any other candidate.Silicon Valley bundlers -- fundraisers who gather money from numerous employees of a firm -- have raised concerns about both Warren and Senator Bernie Sanders, who are relying primarily on small-dollar contributions from online donors.Warren is particularly thorny for the tech industry. She has vowed that she will not meet with big donors who want to “buy access” -- and perhaps more troubling for them, has promised to break up big technology companies. Some technology workers are contributing to Warren and Sanders, but few are writing the $2,800 checks that Buttigieg and Biden are relying on, likely because they’ve been quieter on the question of how to handle big tech.Buttigieg is positioning himself as a younger alternative to 76-year-old Biden. Like Biden, he has not embraced the progressive wing’s Medicare for All, instead proposing government-run health care “to those who want it,” without eliminating private insurance.In other areas, he hasn’t taken many unique stances, but his Midwestern and military background seeps into some plans. An issue page on his campaign website is simply called “Unleash rural opportunity,” and he has proposed eliminating some student debt in exchange for national service.Paul Holland, a California venture capitalist and fundraiser for Hillary Clinton’s 2016 campaign, said he believes a moderate has the best chance of winning. In his circles, Biden hasn’t attracted the same kind of enthusiastic support that other candidates have.“It’s Mayor Pete and Cory Booker who are getting most of the attention,” he said.Buttigieg himself drew the contrast between his candidacy and Biden’s during a Marin County event.“Every time we’ve won in our party it’s been with a candidate with new ideas, who hasn’t been on the scene for too long,” Buttigieg said. “That’s what works. Also, Americans are most likely to support the opposite of what’s in the Oval Office.”Among Buttigieg’s donors are Ron Conway, an investor who has guided San Francisco mayors to back tech-friendly policies; Scott Belsky, the chief product officer and executive vice president at Adobe Inc.; Tony Xu, CEO of Doordash Inc.; David Marcus, the head of Facebook’s Libra cryptocurrency project and Wendy Schmidt, wife of former Google CEO Eric Schmidt.Buttigieg’s fundraising has been prodigious, but he’s still behind in national polls. He stands at just 5% in the RealClearPolitics national average, compared with 26% for Biden. And that raises pragmatic questions about who can win the Democratic nomination.“Even with his flaws, Biden is the guy who’s probably going to satisfy the moderates,” Holland said.To contact the reporters on this story: Bill Allison in Washington DC at ballison14@bloomberg.net;Jeffrey Taylor in San Francisco at jtaylor184@bloomberg.net;Sophie Alexander in San Francisco at salexander82@bloomberg.netTo contact the editors responsible for this story: Wendy Benjaminson at wbenjaminson@bloomberg.net, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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Dallas orders curfew after tornado shreds homes; thousands without power

Three people were reported hospitalized with non-life-threatening injuries after the Sunday storm ripped through north Dallas with maximum wind speeds of 140 mph (225 kph), according to the National Weather Service. Emergency management workers went door to door in areas such as Preston Hollow and Richardson, checking homes without roofs or crushed by fallen trees, tagging structures with orange spray paint. "#DallasTornado you took my job! my school!" one Twitter user, Monica Badillo, posted, along with images of shattered windows and debris at Primrose School in Preston Hollow, where she said she worked.

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NYC, California sue Postal Service over smuggled cigarettes

California and New York City sued the U.S. Postal Service on Tuesday to stop tens of thousands of cigarette packages from being mailed from foreign countries to U.S. residents, saying the smugglers are engaging in tax evasion while postal workers look the other way. The lawsuit in Brooklyn federal court blames the Postal Service for deliveries from Vietnam, China, Israel and other countries, saying the failure to enforce a federal law aimed at banning cigarette mail deliveries costs California an average of $19 million annually in tax revenues and New York City and state over $21 million each year.

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Iraq: U.S. troops crossing border from Syria don't have approval to stay

U.S. forces that crossed into Iraq as part of a withdrawal from Syria do not have permission to stay and can only be there in transit, the Iraqi military said on Tuesday.

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Mahathir warns of possible trade sanctions on Malaysia

Malaysian Prime Minister Mahathir Mohamad said on Monday his exports-reliant country could be hit with trade sanctions amid rising protectionism highlighted by the U.S.-China tariff war. Mahathir did not mention the source of possible sanctions on the Southeast Asian country but said he was disappointed that proponents of free trade were now indulging in restrictive trade practices on a "grand scale". "Unfortunately, we are caught in the middle," he told a conference in the capital Kuala Lumpur, referring to the U.S.-China trade war.

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Brazil's Senate suspends voting on amendments to pension bill

Brazil's Senate suspended voting on amendments to a bill overhauling the nation's social security system on Tuesday night.

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Buttigieg, surging in Iowa, has a plan to win it all. Here it is.

Reminder: There are 105 days until the Iowa caucuses and 379 days until the 2020 election. It happened to Kamala Harris during the summer. Now it’s starting to happen to South Bend, Ind., Mayor Pete Buttigieg, who was widely proclaimed one of the “winners” of last week’s Democratic primary debate in Westerville, Ohio.

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See Photos of 2020 Toyota Yaris Hatchback

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A West Point cadet and his M4 rifle have been missing for three days

Officials said that the cadet, member of the class of 2021, is not believed to be a threat to the public, but could be a threat to himself.

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The U.S. Army Has Big Plans to Smash Enemy Drones in a War

The U.S. Army is fast-tracking what could be called an entire sphere of counter-drone weapons

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Hong Kong leader visits mosque struck by blue water-cannon dye

Hong Kong's pro-Beijing leader and the city's police chief apologised Monday as they visited a mosque that was struck with blue dye from a water cannon during the latest bout of violent protests. The entrance to the Kowloon Mosque, the international hub's largest, was sprayed by a water cannon truck on Sunday, causing anger among both local Muslims and protesters. Police use the dye -- often mixed with an irritant -- as a way to identify protesters but it has frequently left streets and buildings daubed in a garish blue.

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Julián Castro Threatens to Drop Out of the Presidential Primary Over Lackluster Fundraising

Julián Castro's campaign will end unless he can secure enough fundraising by Halloween.

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Japanese Emperor Naruhito ascends Chrysanthemum Throne

Three booming cheers of "Banzai!" rang out Tuesday at the Imperial Palace in Tokyo as Naruhito formally declared his ascension to the Chrysanthemum Throne as the nation's 126th emperor. As a driving autumn rain briefly gave way to sunshine and 2,000 guests looked on, Naruhito pledged at an elaborate, ritual-laden ceremony to serve as a symbol of the state for his people. The enthronement ceremony is the high point of several succession rituals that began in May when Naruhito inherited the throne after the abdication of Akihito, his father.

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US awarded ownership of seized North Korean vessel

A New York court has formally handed the US ownership of a North Korean cargo ship seized for violating international sanctions, the Justice Department said. The 17,061 ton bulk carrier Wise Honest -- the first North Korean vessel seized by Washington for sanctions violations -- was caught carrying a $3 million shipment of coal in Indonesian waters last year and later handed over to US authorities. The court in the Southern District of New York ordered the vessel to be forfeited to Washington and for the Treasury Department to "dispose of" it, an order released by the Justice Department showed.

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Pompeo says Trump is 'fully prepared' to take military action against Turkey if necessary, which would shatter NATO to pieces

This comment came a little over two weeks after Trump's decision to withdraw US troops from northeast Syria, which paved the way for Turkey to invade.

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Harry Dunn: Government knew American suspect was leaving UK

The UK government was warned by the US embassy that the suspect in the crash which killed Harry Dunn was to leave the country. Mr Dunn, 19, was killed when his motorbike collided with a car near RAF Croughton, Northants, on Aug 27. Anne Sacoolas, the wife of an American diplomat, has admitted to driving on the wrong side of the road and hitting the teenager, but she returned to the US and has refused to come back. Dominic Raab, the Foreign Secretary, told the Commons last night that the US embassy alerted them to Ms Sacoolas's "imminent" departure "unless the UK had strong objections" on Sept 13. Police were unable to arrest Ms Sacoolas as the US had not waived her diplomatic immunity. "We duly and immediately objected in clear and strong terms and we have done ever since," said Mr Raab. When the Foreign Office followed up on Sept 16, the embassy said Ms Sacoolas had returned to the US. Mr Dunn's family spokesman said the revelation "added insult to injury". Harry Dunn died in August but the driver of the car that hit him has not returned to the UK to face questioning Credit: Facebook The Foreign Secretary said the case had been raised at "every level" in the US, including with Donald Trump. In a statement, Mr Raab said: "I have already commissioned a review of the immunity arrangements of US personnel and their families at the Croughton annex I do not believe the current arrangements are right and the review will look at how we can make sure they cannot be used in this way again." Mr Raab said diplomatic immunity for Ms Sacoolas has "clearly ended". "There are no barriers to justice being done," in Harry's case he added. Harry's parents were due to meet Northamptonshire Chief Const Nick Adderley on Tuesday, but cancelled because they felt he was only able to offer condolences rather than solutions.

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DOJ distances itself from Giuliani

The Justice Department distanced itself Sunday from Rudy Giuliani, President Trump’s personal lawyer, declaring that department officials would not have met with Giuliani to discuss one of his clients had they known that federal prosecutors in New York were investigating two of his associates.

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Mom who touted daughter's 'bucket list' accused in her death

In a grand jury indictment revealed Monday, Kelly Renee Turner, 41, also known as Kelly Gant, was charged with 13 criminal counts that included child abuse, theft and charitable fraud in the death of Olivia Gant in 2017. The indictment alleges Turner caused Olivia Gant's 2017 death, not the multiple illnesses that the mother claimed the girl had and that prompted publicized ride-alongs with police and fire crews. Olivia's actual cause of death was not immediately clear.

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Supreme Court tosses challenge to Republican-drawn Michigan electoral maps

The U.S. Supreme Court on Monday threw out a challenge to Republican-drawn electoral districts in Michigan that Democrats said were illegally configured to dilute their voting power, an action taken in the aftermath of major rulings by the justices in June prohibiting federal courts from hearing such claims. The Supreme Court's action voided an order in April by a three-judge panel to rework 34 districts in the state legislature and U.S. House of Representatives whose boundaries were crafted purely to advantage Republicans, a practice known as partisan gerrymandering. In a blow to election reformers, the justices found that federal courts have no role to play in reining in electoral map manipulation by politicians aimed at entrenching one party in power.