Jeff Bezos said an internal memo that he was committed to maintaining The Washington Post's journalistic standards.
Jamie McCarthy/Getty Images
Jeff Bezos told Washington Post staffers Tuesday that their journalistic standards will not change.
The memo came as the Post's publisher and incoming editor face criticism over past reporting.
Bezos said he was committed to maintaining the Post's "quality, ethics, and standards."
Jeff Bezos, the owner of The Washington Post, tried to assure staffers on Tuesday that the journalistic standards at the newspaper will not change as controversies mount over its new publisher and incoming editor.
"The journalistic standards and ethics at the Post will not change," Bezos wrote in the email, which was obtained by CNN. He also copied Will Lewis, publisher and CEO of the Post, on the email.
"To be sure, it can't be business as usual at The Post. The world is evolving rapidly, and we do need to change as a business," Bezos said, adding, "With your support, we'll do that and lead this great institution into the future. But, as the newsroom leaders who've been shaping and guiding our coverage, you also know our standards at The Post have always been very high. That can't change — and it won't."
He continued, "You have my full commitment on maintaining the quality, ethics, and standards we all believe in."
The billionaire owner's email comes as Lewis faces criticism related to the phone-hacking scandal that rocked the UK starting in 2011 when it was revealed that reporters at a British tabloid had hacked the phone records of celebrities and private citizens and that some had paid sources for information. Lewis was brought into News Corp. to deal with the fallout.
The New York Times on Saturday reported that Lewis himself had assigned stories based on "fraudulently obtained" phone and company records in the early 2000s when he was a business editor at The Sunday Times.
The Post published a story on Sunday that said a self-described "thief" who stole records for stories was connected to Lewis and Robert Winnett, the Post's incoming editor.
Bezos did not immediately respond to a request for comment sent by BI. The Post did not provide comment when reached by BI. Previously, The Post told The Times, "William is very clear about the lines that should not be crossed, and his track record attests to that."
Winnett was tapped to take over the Post newsroom this fall after Executive Editor Sally Buzbee abruptly stepped down this month, with former Wall Street Journal Editor in Chief Matt Murray stepping into the role until after the election.
The Times, citing unnamed sources, reported earlier this month that Buzbee and Lewis had clashed over whether to cover a legal development in a lawsuit related to the phone-hacking scandal.
Beyond controversies involving its leadership, the Post has also been struggling financially.
Bezos bought the Post for around $250 million in 2013, but the Times reported the newspaper had $100 million in losses in 2023. The Post also cut 240 jobs at the end of last year.
A small study of men with erectile dysfunction found microplastics hiding in most of their penises.
An older man with a traditional lifestyle was the only one who didn't have microplastic in his penis.
Scientists don't totally understand how microplastics affect reproductive health, but they're worried.
When scientists first started murmuring about a striking connection between more microplastics and more heart attacks, Dr. Ranjith Ramasamy's mind immediately traveled further south, to another blood-pumping organ, one that he knows very well.
"Penis being such a vascular organ, similar to the heart, we said, 'Hey, could this also be present in the penis?'"
Ramasamy, a reproductive urology specialist who has conducted penile implant surgeries in Miami for many years, wondered how the microplastics that we inadvertently inhale from everyday items including food, water bottles, and household dust, might impact fertility and verility in men.
What he's found, while still preliminary, is that microplastics are present in some penises experiencing erectile dysfunction (ED).
Microplastics were found in 80% of penises with ED in this small study
Most of the microplastic found in penises was the kind that's used to manufacture plastic bottles.
Peter Dazeley/Getty Images
Ramasamy's first-of-its-kind study, just released in the International Journal of Impotence Research, was a small, pilot sample of six men, all with ED, each one undergoing surgery to insert a penile implant.
While the study is still preliminary, it's part of a growing body of research that finds microplastics are present everywhere in the human body that researchers have looked so far.
It's also one of the first studies to study a connection between impotence and more plastic use. Other studies have already suggested there may be some link between our plastic modern existence and lower-quality sperm. Ramasamy wanted to know whether microplastics might physically impact penis muscle function.
At the start of each surgery, Ramasamy carefully extracted some tissue from deep inside the shaft of the penis — an area that's responsible for making and sustaining erections. He and his team worked to ensure there was no plastic contamination in the surgery rooms by using non-plastic surgical instruments and collecting the tissue in glass containers. They then whisked the tissue off to two separate labs for analysis.
Scientists found microplastics present in five of the six penises they sampled. The most abundant plastic in the penises was polyethylene terephthalate, or PET, a common plastic used in food packaging including plastic bottles and takeout containers. They also found polypropylene, which is used to make plastic bottle caps.
We are gobbling up more plastics than ever, and learning more about the effects
Most takeout containers are lined with plastic coating (yes, even the cardboard ones.)
filadendron/Getty Images
We don't know how much plastic might be hiding out in the penises of men without ED and can't take much away from such a small initial study.
Still, this research goes hand in hand with what other microplastics experts are discovering.
We are consuming more plastic than ever before. In several recent microplastic studies, younger men have had more microplastic in them than older men.
The one man in this study who didn't have any detectable microplastics in his penis "leads a very traditional, Cuban guy elderly lifestyle," Ramasamy said. "He said he doesn't use a lot of plastics."
He's not getting a lot of the takeout that often comes in plastic-lined containers, and he's not drinking from plastic-lined coffee cups or plastic water bottles very often. In other words, without trying, he's doing most of the things that microplastic researchers recommend to people hoping to reduce their risk of any potential microplastic-related health issues: avoiding drinking and eating from plastic, and never microwaving plastic containers.
This finding has given Ramasamy pause. He has become much more wary of drinking from plastic water bottles since completing this study, and he tries to always put his food on a real plate now before he re-heats it, instead of microwaving plastic tubs. He knows it's still unclear what contribution microplastics might be making to infertility and low sperm quality, but he's got a hunch there's probably some contribution, on some level.
"As convenient as society has become, I think we're facing some of these harms," he said. "I don't think our parents were exposed to as much: They were not drinking water out of plastic bottles — they were certainly not doing as much takeout."
Could microplastics be interfering with important penis muscles?
Microplastics could impact smooth muscle function, Ramasamy suggested.
Carol Yepes/Getty Images
Microplastics have traveled to almost every corner of the body that scientists have looked at so far, including lungs, livers, blood vessels, penises, and brains, as well as fluids including semen, blood, and placentas. Just last month, researchers at the University of New Mexico found microplastics in testicles, cementing the idea that microplastics can penetrate the body's protective blood-testes barrier. What these tiny bits of plastic are doing to our bodies remains an open question.
Richard Pilsner, a men's reproductive health expert at Wayne State University who studies the chemicals in plastics, says "we have a lot to learn in terms of where it's accumulating and what processes it may be affecting." Recent work he's done suggested that men with higher levels of plasticizers and plastic chemicals in their bodies see their sperm age faster, in a similar way to cigarette smokers.
"It kind of is all pointing in the same direction — that these environmental factors are influencing sperm fitness," he said.
While the impact of microplastics on erections is unclear, that's nothing new in this field. Erections are still a very poorly understood, multifactorial phenomenon, involving nerves, hormones, muscles, and interest.
Ramasamy is confident that this is seriously worth investigating, especially given the recent link between more microplastics in blood vessels pumping oxygen to the brain, and more heart attacks and strokes. Couldn't it also be the case that microplastics are connected to erection issues, in a similar, physical way?
"You could have good blood supply, but if you don't have the actual muscle to do the heavy lifting, how are you going to make it work?" he said.
Legendary investor Warren Buffett said a low-cost index fund is the most sensible equity investment for the great majority of investors.
Many investors enthusiastically embrace exchange-traded funds (ETFs) as an excellent choice for building a diversified and resilient retirement portfolio, and with good reason.
Buffett advocates cost-effective investing, highlighting ETFs for their low expense ratios and investors’ ability to keep more money invested. ETFs offer flexibility similar to stocks, allowing for portfolio adjustments in tune with retirement goals and market dynamics.
With that in mind, here are my two ASX ETF picks for retirement.
Let’s kick off with the Vanguard Australian Shares Index ETF. This ETF is a prime example of Buffett’s invaluable advice in action. It offers extensive exposure to the Australian equity market, comprising the top 300 companies listed on the ASX.
This ETF is designed to track the return of the S&P/ASX 300 Index (ASX: XKO), which includes Australia’s major players such as BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), and CSL Ltd (ASX: CSL).
Another important consideration is its fees. The VAS ETF is popular due to its low management fee of just 0.1% per annum, making it an even more attractive investment option.
This ETF is ideal for those seeking regular income, paying quarterly dividends. Over the past 12 months to April 2024, it provided total dividends of $3.741, yielding 3.9% at the current share price, with around 80% franking credits.
Over the last 10 years, VAS has generated a total return of 7.7% per year, comprising 3.2% capital growth and 4.5% income return.
The VAS ETF unit price was trading at $96.73 after closing on Tuesday.
Now, for those eager to broaden their investment horizons, Betashares Nasdaq 100 ETF stands out as an exceptional choice.
With Australia accounting for just 2% of the global financial market, it’s crucial to diversify beyond domestic equities when planning for retirement.
NDQ offers an affordable entry point into the United States market, focusing on tech-heavy and growth-oriented stocks within the NASDAQ-100 Index. Big names include Nvidia, Amazon, Apple and Alphabet. This not only serves as a hedge against domestic market volatility but also adds substantial value by capturing growth opportunities in the global market.
The ETF’s management fee is 0.48% per annum, which is higher than VAS but reflects its specialised exposure to high-growth tech stocks.
Since its inception in May 2015, the ETF has generated an average annual return of 19.48%, which is phenomenal.
The NDQ ETF unit price closed at $45.60 on Tuesday.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Foolâs board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Foolâs board of directors. Motley Fool contributor Kate Lee has positions in Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, BetaShares Nasdaq 100 ETF, CSL, and Nvidia. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, CSL, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Zip Co Ltd (ASX: ZIP) shares pushed higher on Tuesday.
The buy now pay later (BNPL) provider’s shares rose 2.5% to $1.44.
This appears to have been driven by news from across the Pacific.
What gave Zip shares a boost?
There were fears last year that tech behemoth Apple Inc (NASDAQ: AAPL) was going to steal market share away from Zip in the United States with the launch of Apple Pay Later.
However, less than a year after launching its BNPL offering, the iPhone maker has decided to discontinue the service. This means one less player for Zip to compete with in the lucrative US market.
According to a press release, Apple decided to scrap its Apple Pay Later service after announcing that third-party services would be integrated into its upcoming iOS 18 software. It commented:
Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay. With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the US.
In addition, it is worth noting that the new service will be made available globally (not just in the US) through the company’s Apple Pay platform with the launch of iOS 18. It adds:
Our focus continues to be on providing our users with access to easy, secure and private payment options with Apple Pay, and this solution will enable us to bring flexible payments to more users, in more places across the globe, in collaboration with Apple Pay enabled banks and lenders.
What is unclear, though, is whether Zip will be one of the third-party providers that will be integrated into the software. If it is, it could be a big boost to Zip’s growth in the coming years.
Conversely, if one of its rivals has the honour of being integrated, it could potentially cause some headwinds for Zip.
Should you invest?
With Zip shares up 205% over the last 12 months, analysts believe that potential upside is now becoming somewhat limited.
For example, both UBS and Ord Minnett currently have buy ratings on the BNPL provider’s shares. However, with price targets of $1.55, this suggests that Zip’s shares could rise a modest 7.6% over the next 12 months.
This could make it worth waiting for a better entry point and further clarification on Apple Pay’s integrations.
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Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple and Zip Co. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Sonic Healthcare Ltd (ASX: SHL) share price has fallen almost 20% this year, while the S&P/ASX 200 Index (ASX: XJO) is up approximately 2% in the same time period.
One expert thinks this sell-off could be an opportunity.
As one of the world’s largest providers of pathology services, Sonic is a significant ASX healthcare share player. Healthcare is typically a defensive sector, so some investors may see this heavy decline as uncharacteristic.
Writing on The Bull, Dylan Evans of Catapult Wealth believes Sonic Healthcare shares could be appealing at this level.
Expert’s positive view on Sonic Healthcare shares
Evans points out that the company’s sell-off was triggered by the market’s response to an earnings downgrade.
Despite that bad news, he believes Sonic Healthcare shares are a buy at the current level, suggesting the company can regain momentum despite the fact it’s taking longer than expected to reduce costs.
Sonic Healthcare’s earnings dropped in FY23 as COVID testing revenue subsided.
Profit growth was lower than expected, partly because of inflationary pressures impacting the business and worsened by currency exchange headwinds. A number of profit improvement initiatives the company planned to complete in the second half of FY24 have been “slower to deliver than expected” and will instead contribute to earnings growth in FY25. Sonic also expects inflation pressures to ease going forward.
It guided that EBITDA could be between $1.7 billion to $1.75 billion in FY25 (compared to $1.6 billion for FY24).
Weakness can be an opportunity
While short-term profitability is challenged, there are some positives.
In the four months to 30 April 2024, the company saw organic revenue growth of 6%, which is a solid growth rate.
Sonic also pointed out that it has made a number of investments which can help earnings growth (and Sonic Healthcare shares) in the future, including Synlab Suisse and Dr Risch in Switzerland and PathologyWatch in the US.
In the May update, Sonic Healthcare CEO Dr Colin Goldschmidt said:
Overall, the company remains in a very strong position, both financially and in terms of market positioning.
We remain well set for growth in revenues and earnings going forward, including realising over the next two years the synergies and enhanced returns from the investments made this year.
In managing our costs, especially labour costs, we have been mindful to protect our brands and to support our ongoing strong growth and the high quality of essential services we provide.
According to the forecast on Commsec, the Sonic Healthcare share price is valued at 20x FY26’s estimated earnings.
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When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
Motley Fool contributor Tristan Harrison has positions in Sonic Healthcare. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Westpac Banking Corp (ASX: WBC) share price closed at $27.22 on Tuesday, 0.93% higher for the day and up 17.94% in the year to date.
As FY24 nears its close, let’s look at what lies ahead for this ASX 200 bank share.
State of play: Earnings down, but dividends up
The last round of price-sensitive news we received from Westpac was its mid-year report last month.
The Westpac share price received a boost on 6 May when the company released its half-year results.
For the six months ended 31 March, Westpac’s net operating income declined 4% year over year to $10,590 million compared to the prior corresponding period (pcp).
This reflected a flat net interest income of $9,127 million, a 23% decline in non-interest income to $1,463 million, and an 8% increase in operating expenses to $5,395 million.
Bottom line: Net profit fell 16% pcp to $3,342 million.
However, ASX investors appeared impressed by the 7.1% increase in the interim dividend to 75 cents per share, plus a fully franked special dividend of 15 cents per share.
The bank also announced an extra $1 billion for its ongoing share buyback program.
Amid an increase in loan book stress, King said the bank had a strong balance sheet and was “in a good position to help customers”.
He said the bank believed the economy was “on track for a soft landing”. However, he noted that inflation was proving sticky and it was “likely interest rates will stay higher for longer”.
What’s happened to the Westpac share price?
The Westpac share price is up 28.7% over the past 12 months.
Valuation is one of the reasons why top broker Goldman Sachs has just downgraded Westpac shares.
Looking ahead…
Goldman analysts Andrew Lyons and John Li downgraded Westpac shares from a neutral to a sell rating in May. Their 12-month share price target for Westpac is $24.10.
In a new note, the analysts gave three main reasons for the downgrade.
Firstly, Lyons and Li discussed Westpac’s technology simplification plan, dubbed the UNITE program.
Westpac says UNITE will be a “major driver to close the cost-to-income ratio gap to peers”. It would also improve customer service, make things easier for staff, and lift shareholder returns.
The plan is expected to cost $1.8 billion in FY24 and about $2 billion per annum from FY25 to FY28. This represents about 30% of the bank’s total investment spend from FY24 to FY28.
Last month, King said they had started work on 14 initiatives. These include simplifying customer and collections systems.
Lyons and Li said the plan “comes with a significant degree of execution risk, given historically banks’ large-scale transformation programs have struggled to stay on budget, and we are currently operating in a stickier-than-expected inflationary environment”.
In a statement, the RBA said inflation was falling, “but the pace of decline has slowed” and “the process of returning inflation to target is unlikely to be smooth”.
Lyons and Li said Westpac’s second challenge for FY25 was that it’s the most exposed to Australian housing.
In their view, “… the relative outlook for system housing lending is likely to be constrained by an already full[y] indebted household”.
Australia has the second-highest household debt in the world (behind Switzerland) at 110% of gross domestic product (GDP). This is largely due to expensive home loans, which have resulted from decades of fairly consistent property price growth.
Property prices have continued to rise in most capital city and regional markets over the past 12 months. Rising prices make finance harder to get. Banks apply an APRA-imposed 3% serviceability buffer to their loan rates when assessing whether applicants can afford the repayments.
So, on a 6% loan, Westpac and other banks are assessing borrowers at a 9% repayment rate. This is making it tough for Australians to get new home loans, particularly in the more expensive markets.
Finally, Lyons and Li pointed out that the Westpac share price is trading on a 12-month forward price-to-earnings (P/E) ratio that is one standard deviation above its 15-year historical average.
Goldman has a 12-month share price target of $24.10 on Westpac. This implies a potential 11.5% downside for investors who buy the ASX 200 bank stock today.
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
If you are looking for passive income from ASX dividend stocks, then it could be worth considering Universal Store Holdings Ltd (ASX: UNI).
That’s the view of analysts at Morgans, which see plenty of value in its shares at current levels.
In addition, the broker is forecasting dividend yields that are comfortably ahead of market averages.
Let’s see what a $10,000 investment in Universal Store’s shares could turn into.
What is Universal Store?
Firstly, in case you’re not familiar with the company, let’s take a quick look at Universal Store.
Universal Store owns a portfolio of premium youth fashion brands and omni-channel retail and wholesale businesses.
Its principal businesses are Universal Store and the Thrills, Worship, and Perfect Stranger brands.
At present, the company operates 100 physical stores across Australia, in addition to online channels. It notes that its strategy is to grow and develop its premium youth fashion apparel brands and retail formats to deliver a carefully curated selection of on-trend apparel products to a target 16-35 year-old fashion focused customer.
$10,000 invested in this ASX dividend stock
If you were to invest $10,000 (and an extra $2.97) into the company’s shares, you would end up owning 2,029 units.
According to a note out of Morgans, its analysts have an add rating and $6.50 price target on its shares. This implies potential upside of almost 32% for investors and would value your holding at $13,188.50.
Commenting on its bullish view, Morgans said:
Our positive view about the fundamental long-term appeal of Universal Store as a retail proposition and investment opportunity is undiminished. The growth opportunities are in place. Universal Store’s women’s banner Perfect Stranger is performing well, justifying an acceleration in its network expansion; the prospect of building out the wholesale distribution channels acquired with CTC is compelling; and customers continue to respond well to the Universal Store banner, rendering its plan to grow this network to more than 100 stores more than reasonable. Although its core youth customers are far from buoyant, they continue to spend.
And let’s not forget the passive income. Morgans expects the ASX dividend stock to pay fully franked dividends of 26 cents per share in FY 2024 and then 29 cents per share in FY 2025. This represents yields of 5.3% and 5.9%, respectively.
Let’s imagine that this means fully franked dividends of 27.5 cents per share over the next 12 months (the final dividend of FY 2024 and the interim dividend of FY 2025), this would mean passive income of approximately $558 from your shares.
Combined, that’s a very healthy 12-month return on investment of approximately $3,750. Not bad if you ask me!
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Royal Caribbean Freedom of the Seas cruise ship is plugged into a newly installed shore power system at PortMiami on June 17, 2024 in Miami, Florida.
Joe Raedle/Getty Images
One of the most popular cruise ports in the world just got an environmental makeover.
PortMiami is now equipped with shore power, which allows ships to plug into giant electrical outlets.
The technology allows cruise ships to kill their engines while docked, reducing emissions and noise.
The cruise ship capital of the world unveiled its new shore power system this week, an innovative energy source that will help curb the industry's negative climate impacts.
Cruise ships docking at PortMiami are now able to plug into massive electrical outlets instead of running their diesel engines while idle.
Large commercial vessels typically keep their engines running while docked to ensure crew members and passengers who stay on board have access to electricity and other amenities. One cruise ship running its engine at port can use as much energy as 10,000 households in one day, The Miami Herald reported.
The Florida port saw more than 7 million cruise passengers pass through in 2023, a record-breaking figure for the busy cruise hub.
Shore power utilizes the local land-based power grid. The Miami apparatus is a collaboration between Miami-Dade County, Florida Power & Light Company, and several large cruise companies.
The project cost an estimated $125 million and was funded by grants and contributions, including from the US Environmental Protection Agency and the Florida Department of Transportation, Cruise Hive, a trade publication, reported.
The energy comes from individual substations built by Florida Power & Light, which are installed at multiple terminals throughout the port, according to The Herald.
Shore power will help cut emissions and noise pollution, the outlet reported. MiamiPort has 16 megawatts available for cruise ships, and each vessel requires anywhere from eight to 13 megawatts per docking, port director Hydi Webb told The Herald.
MiamiPort did not immediately respond to Business Insider's request for comment.
Monday marked the grand unveiling of PortMiaimi's shore power system. Executives from five cruise lines — Carnival, Royal Caribbean, Virgin, Norweigen, and MSC — attended, according to media reports.
The port's shore power rollout is quick. Three ships per cruise line will be able to plug into the substations starting this week, The Herald reported.
A Carnival ship was the first vessel to connect on Monday, according to Cruise Hive. The company did not immediately respond to BI's request for comment.
While 30% of global cruise ships have shore power capability, less than 30 ports are equipped to serve such ships, according to a 2023 report from the Cruise Lines Industry Association.
But more and more ports appear to be ready for the change. The Port of Seattle recently announced that it will require all cruise ships homeported there to use shore power by 2027.
Tal Alexander is accused of raping a woman with his brother, Alon, in New York in 2012.
Mark Sagliocco/Getty Images for Hamptons Magazine
A woman accused broker Tal Alexander and his brother Alon of raping her in 2012.
In a lawsuit, the woman states that a third brother, Oren Alexander, watched the rape.
Two other women have accused Oren and Alon of raping them in separate lawsuits.
A woman has accused star real estate broker Tal Alexander and his brother Alon of raping her at a Manhattan apartment in 2012.
The accusation was made in a lawsuit filed Tuesday in a New York state court. Earlier this year, two other women filed separate lawsuits accusing Alon and a third brother, Oren Alexander, of rape.
In the latest lawsuit, Angelica Parker accuses Alon and Tal of assaulting her in the fall of 2012 in their SoHo apartment while Oren watched.
Parker stated she met Oren in 2012 and "developed a brief personal relationship" with him. Parker says that in the fall of that year, she and a friend met Oren and Alon at the apartment at 543 Broadway.
The friend left after Alon began "groping her" and waited in a stairwell out of concern for Parker, according to the complaint. Parker's lawyer says in the lawsuit that Alon then orally and vaginally raped her and that during the vaginal rape, "Tal proceeded to forcibly orally rape Ms. Parker against her will."
Oren, "sat and watched as Ms. Parker was raped by his brothers," the complaint says.
Tal and Oren Alexander cofounded the luxury real-estate brokerage Official.
Sean Zanni/Patrick McMullan via Getty Image
Isabelle Kirshner, a defense attorney representing Alon and Oren, said the brothers denied the allegations in Parker's lawsuit.
"They are pure fiction," Kirshner said in a statement. "We look forward to presenting the facts in court."
Michael Willemin, Parker's attorney, said in a statement that the case was "intended to send a message that the law applies even to the very wealthy and well connected, including the Alexanders."
"We have no doubt that Angelica will prevail in this matter," Willemin said.
An attorney for Tal Alexander did not immediately return an email Tuesday seeking comment on the allegation.
Tal and Oren were among the biggest names in the lucrative business of selling high-priced homes. They also developed a reputation in the brokerage business for their aggressive approach in courting wealthy clientele and elbowing other brokers out of transactions.
Two years ago the pair broke off from Douglas Elliman, the brand-name brokerage where they had worked for more than a decade, and cofounded Official Partners, a firm that focuses exclusively on the uppermost tier of the residential sales market.
In March, two women in separate lawsuits filed in NY state court accused Oren and his identical twin brother Alon, 36, of rape. In one case, Rebecca Mandel said Oren and Alon met her at a Manhattan nightclub in 2012, spiked her drink, and invited her to a party at their apartment. When they arrived, the home was empty, and Alon and Oren held her down and took turns raping her, she said.
In the second lawsuit, Kate Whiteman said Oren and Alon whisked her away from a nightclub in a private car and raped her at a mansion in the Hamptons in 2012.
Evan Torgan, the attorney representing Mandel and Whiteman, said his clients felt "devastation" for Parker after hearing about her lawsuit.
"But they're really gratified that everyone's joining the fight with them as well," he told BI. "Hopefully, they'll get justice, and all the victims will get justice, and it'll finally come to a stop."
Oren announced last week he would take a "pause" from Official Partners while he defended himself from "these baseless civil claims."
"I am confident that through review of the extensive evidence, including text messages and other communications, that the truth will be brought to light," he stated.
Official released a message last Friday to its employees stating that Oren's brokerage license was severed from the firm "and the process of removing him from ownership is well underway."
A spokesman for Official Partners declined to comment on the newest lawsuit and didn't say whether Tal Alexander will remain at the firm.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Nvidia(NASDAQ: NVDA) shares are riding high on the seas of artificial intelligence (AI). The chip designer took an early lead in the AI hardware race, leading to incredible business results and skyrocketing stock prices.
The stock traded at a split-adjusted $14 per share when OpenAI released the ChatGPT generative AI engine, powered by thousands of Nvidia AI accelerator chips. Today, Nvidia’s share price has soared to $131. With a $3.2 trillion market cap, it’s one of the three most valuable companies in the stock market.
Did you miss the boat on Nvidia’s AI-based opportunity, or can the stock continue to rise from this lofty plateau? Let’s find out.
Nvidia’s upsides
Nvidia’s financial success is indisputable. Revenues more than tripled year-over-year in the last two earnings reports. Free cash flows are consistently growing by about 500% in the same time frame. Microsoft(NASDAQ: MSFT) and Apple (NASDAQ: AAPL) are still more profitable than Nvidia, but the chip expert is catching up.
Many market observers like to point out that the generative AI revolution is only getting started. ChatGPT is less than two years old. Only a couple of tech giants have come up with comparably powerful large language models (LLMs) so far, though many are working on their own long-term generative AI plans. Until further notice, Nvidia’s accelerator chips are the gold standard against which other solutions must be measured. If you’re building a strong AI system, Nvidia’s solutions are the default and the industry standard. Others must develop and then prove some sort of unique advantage before winning AI contracts against Nvidia’s killer products.
Imagine Nvidia maintaining its lead as the generative AI market grows. It’s not hard to see the stock soaring even higher over the next few years.
Nvidia’s potential downsides
On the other hand, the good financial news and a whole lot of forward-looking expectations are already priced into Nvidia’s stock. Shares are changing hands at glossy valuation ratios such as 82 times free cash flow and 40 times sales — levels usually reserved for small-cap start-ups with more sizzle than substance.
At the same time, Nvidia doesn’t stand unchallenged in the AI accelerator market. Arch rival Advanced Micro Devices(NASDAQ: AMD) has its Instinct line of cost-effective AI chips. The Intel(NASDAQ: INTC) Gaudi series boasts impressive performance per watt of electric power. And that’s just the top of a large heap. There’s more than one way to design an AI-crunching system, and rival solutions may offer compelling alternatives for specific use cases. Who’s to say that Nvidia will hang on to its market-defining lead in the long run?
Separately, the issues of high valuation and strong competition should be enough to give most investors pause before slamming that “buy” button on Nvidia stock. Together, it’s a high-wire act with a long way down. Nvidia’s stock is priced for perfection and any misstep — such as a major AI contract lost to Intel or AMD — will probably result in a quick and painful price drop.
Should you buy, sell, or hold Nvidia?
I’m not saying you should sell every Nvidia share right now and never look back. The company could very well stave off the army of rivals and continue to innovate on a hard-to-match level. Indeed, a bit of Nvidia exposure could serve your portfolio well over the years.
Meanwhile, I highly recommend taking some profits off the table by selling a portion of your long-term Nvidia holdings. The gains are more than substantial and I’m sure you can find more stable and secure ways to invest that money in the AI market.
So on the scale of buy, sell, or hold, I see Nvidia as a stock to hold for the long run. I’d rather sell a few shares than buy more at these nosebleed-inducing share prices. Your mileage may vary, depending on your appetite for market risk and AI-driven excitement. Feel free to do your own research and reach different conclusions. Just don’t say I didn’t warn you if or when Nvidia’s big price correction comes.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Apple wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Microsoft, and Nvidia. Anders Bylund has positions in Intel and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Intel and has recommended the following options: long January 2025 $45 calls on Intel, long January 2026 $395 calls on Microsoft, short August 2024 $35 calls on Intel, and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
