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UAW president under investigation by federal monitor
  + stars: | 2024-06-10 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing. The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information. More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents. The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.
Persons: Shawn Fain, Neil Barofsky, Fain Organizations: United Auto Workers, Health, Education, Labor, Pensions, Washington , D.C, DETROIT — United Auto Workers, UAW, U.S . Department of Justice, Union, UAW International, Board Locations: Dirksen, Washington ,, DETROIT
CNN —A new interactive art installation in New York City is allowing viewers to communicate with people 3,000 miles away in Dublin, Ireland. The brainchild of Lithuanian artist Benediktas Gylys, “the Portal” was unveiled on Wednesday and allows people on either side of the Atlantic to interact with each other via a video link. The idea was “conceived as a testament to the power of art to transcend physical barriers,” reads the press release from Gylys and officials from New York City and Dublin. The Dublin portal will also connect with other installations in Lithuania and Poland from July onwards, said de Róiste in the statement. This is not the first time that an artist has brought New Yorkers closer to people across the Atlantic.
Persons: Benediktas Gylys, Brendan McDermid, , Daithí de Róiste, de Róiste, Paul St, George Organizations: CNN, Flatiron South Public, Broadway, Reuters Locations: New York City, Dublin, Ireland, Gylys, Lithuanian, Vilnius, Polish, Lublin, Lithuania, Poland, British, London, New York
American and United sat in the middle of the group, mostly losing points for cancelations, tarmac delays, and baggage mishaps. AdvertisementHere's a closer look at the best and worst airlines in the US for 2023 — and how they ranked in each category in the WSJ rankings:9. JetBlue AirwaysJetBlue Airways ranked dead last in the WSJ's annual list of best and worst US airlines for 2023. AaronP/Bauer-Griffin/GC Images via Getty Images2022 Rank: 1Delta is the best airline in the US for 2023, according to The Wall Street Journal's ranking. It was second for extreme delays, fourth for tarmac delays and mishandled baggage, and fifth for flight cancelations — its lowest finish overall.
Persons: , Delta, Allegiant, Andrew Watterson, United, Marcus Mainka, Tayfun, Mario Tama, Nicolas Economou, Robert Alexander, Tom Williams, Bauer, Griffin Organizations: Delta Air Lines, Alaska Airlines, JetBlue Airways, Service, Delta, Allegiant, Department of Transportation, — United Airlines, American Airlines, Max, Southwest Airlines, Journal ., Spirit Airlines, Frontier Airlines, Jetblue, JetBlue, Airlines, JetBlue Airways JetBlue Airways, Anadolu Agency, Getty, cancelations, Spirit Airlines Spirit Airlines, United Airlines United, American Airlines American Airlines, Southwest Airlines Southwest Airlines, Southwest, Delta Air Lines Delta Air Lines Locations: West Coast, Seattle, Alaska, New York City, New York, Southwest
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside Denver International Airport — United Airlines' fastest-growing hubWhile airline stocks have not recovered to pre-pandemic levels, passengers have returned in record-breaking numbers. The year 2023 was Denver International Airport's busiest on record, with an estimated 78 million passengers. United Airlines is Denver's biggest operator. It recently invested nearly $1 billion in Denver to add more gates, flights and destinations, and opened the largest lounge in its network. The airline wants to grow to 650 flights a day before 2030.
Organizations: Airport, United Airlines, Denver International, CNBC, Denver Locations: Denver
With a midair emergency, disappointing profit forecast and more aircraft groundings after only two weeks, the airline industry is already off to a turbulent 2024. "It's a labor intensive, capital intensive, largely commodity-type business," Buffett said during the annual meeting of Berkshire shareholders in 2013. Selling airlines In 2020, Buffett revealed that Berkshire sold all of its equity holdings in the U.S. airline industry. That included stakes worth a combined $4 billion in all four legacy carriers — United Airlines , American Airlines , Southwest Airlines and Delta Air Lines . And I don't know how it's changed and I hope it corrects itself in a reasonably prompt way," Buffett said then.
Persons: Warren Buffett, Buffett, Berkshire Hathaway, That's, he's, I've, Charlie Munger, it's, Donald Trump, ’ Buffett, Kitty Hawk, Orville, Richard Branson Organizations: Berkshire, U.S, — United Airlines, American Airlines, Southwest Airlines, Delta Air Lines, Buffett, U.S . Global JETS ETF, JETS, Chicago Cubs, CNBC, Virgin Atlantic Airways Locations: Omaha, NetJets
Zoom Video Communications — The software stock added nearly 2% ahead of its third-quarter earnings due after market close. The Professional Fighters League announced on Monday that it completed its acquisition of mixed martial arts brand Bellator from Paramount. Penn Entertainment — The gambling stock jumped 7% on the heels of a Bank of America upgrade to buy from neutral. Boeing — The aerospace stock jumped 4% after Deutsche Bank upgraded the shares to a buy rating from hold. Chegg — Shares of the education technology company dropped 5% following a downgrade to underweight from equal weight by Morgan Stanley.
Persons: Wells, Sam Altman, Greg Brockman, Raymond James, Morgan Stanley, Krispy Kreme, Iovance, Goldman Sachs, Terri Kelly, Kelly, Peter Grom, , Alex Harring, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Communications, FactSet, Paramount, Professional Fighters League, Bellator, Penn Entertainment, Bank of America, ESPN Bet, Spectrum Brands, Microsoft —, Microsoft, Nvidia, Boeing, Deutsche Bank, JPMorgan, Caterpillar —, HSBC, United Rentals — United Rentals, Bristol Myers, Energizer Holdings, UBS, RBC Capital Markets Locations: FactSet
Disney has offered to pay Comcast $8.6 billion to take full control of Hulu. Disney is already in the process of rolling out a unified app that'll make Hulu's general entertainment content available in Disney+ . "With Hulu firmly in the Disney fold, they can create their own mini-bundle with kids and family (Disney +), general entertainment (Hulu), and sports (ESPN). The valuation also has to take into account that Hulu contains an entire Disney basic cable network, FX on Hulu. Netflix is set to spend $17 billion on entertainment content in 2024, while Disney is poised to spend $15 billion.
Persons: Bob Iger's, , Bob Iger, Hulu —, what's, Comcast's NBCUniversal, pare, he's, Jonathan Miller, Brian Roberts, there's, Bernstein, Laurent Yoon, Read, Jordan Helman, Max, Puck, Disney, Bernstein's Yoon Organizations: Disney, Comcast, Hulu, Service, YouTube, News, Century Fox, Marvel, Netflix, Integrated Media, ESPN, ABC, LightShed Partners, Warner Bros, Wall, Paramount Global, Paramount, Showtime, HBO Max, Macquarie Equity Research, Media, Disney Disney, Hollywood Locations: Disney, Hulu, Canada, India, Hollywood
DETROIT (AP) — United Auto Workers union President Shawn Fain is expected to update members Friday afternoon on progress in contract talks with Detroit's three automakers as movement was reported with General Motors. The union's strikes at targeted plants at each company began on Sept. 15 and are nearing the start of their sixth week. A person briefed on the talks says the union is exchanging offers with GM and will meet again Friday with the company. The strikes started with one assembly plant from each company after contracts expired at 11:59 p.m. Sept. 14. The union later added the parts warehouses, then one assembly plant each from Ford and GM.
Persons: Shawn Fain, Fain, they’re, Gerald Johnson, ” Johnson, Ford, Stellantis Organizations: DETROIT, United Auto Workers, General Motors, GM, UAW, Ford, Equipment Market Association, Los Angeles Auto Show, CES Locations: America, Louisville , Kentucky, Kentucky
The first concern for those looking to leave Israel was when departing flights would resume, followed by the frustrations of actually booking the flight. Documents to travel with pets were not being processed to any country but the United States, she told CNN, but flight prices were skyrocketing into the thousands. “As we were boarding — because it was so manic — 10 or so people just went past the crew member,” they told CNN. Others looking to leave Israel detailed hearing misinformation about rocket strikes destroying the airport. Those people who are from the embassy that are at the airport, they’re super tired, and they’re really, really trying their best,” the Polish tourist told CNN.
Persons: , ’ ” Jillian, Jillian, , , , Emma Gottlieb, Gottlieb, Ben Gurion, Rachel Hammer, Hammer, ” Hammer, ” Milo Ferron, doesn’t, they’re, Biden, John Kirby, Floridians, Ron DeSantis, ” Jillian Organizations: New, New York CNN — Foreign, Ben Gurion International Airport, CNN, America ”, British Airways, Danish, Denmark’s Ministry of Foreign Affairs, US, — United, Delta, National Security, Emergency Management Locations: New York, Israel, Los Angeles, Tel Aviv, United States, Los Angeles , New York, London, Europe, America, British, New Mexico, Cyprus, , Denmark, Polish, Greece, Netherlands, Europe —, Haifa, Florida’s
Mack Trucks and UAW announced the tentative agreement early Monday, followed by releasing "highlights" of the deal later in the week to members. Neither UAW nor Mack Trucks have publicly released the tentative contract ahead of employee meetings to detail the agreement and voting this weekend. Another Mack Trucks worker descried the deal as "disgraceful" and an "insult" compared to their expectations and what's currently being negotiated by UAW international leaders with the Detroit automakers, also known as the Big Three. "They are just pushing this [tentative agreement] through so they don't have to deal with us while the Big Three are negotiating." United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.
Persons: Rebecca Cook, Mack Trucks, Shawn Fain, Mack, They've, it's, Fain, what's Organizations: United Auto Workers, General Motors Lansing Delta Plant, Reuters DETROIT — United Auto Workers, Volvo Group, Detroit automakers, UAW, General Motors, Ford Motor, Lehigh Valley Operations, CNBC, Detroit Locations: Delta Township , Michigan, Pennsylvania
It was an English player's night in the Champions League, even as both of the English teams in action lost. It was the second Champions League game in a row where Bellingham played a vital role for Madrid after scoring the winning goal against Union Berlin. United has conceded seven goals in its opening two Champions League games after losing its opener 4-3 to Bayern Munich last month. The French team last won a Champions League game back in 2002 against AC Milan and hadn't qualified for Europe's top club competition again until this season. Real Sociedad had a smoother time as it picked up its first Champions League win for 20 years, beating Salzburg 2-0 on first-half goals from Mikel Oyarzabal and Brais Méndez.
Persons: Jude Bellingham, Vinicius Junior, Alex Meret —, Bellingham, Carlo Ancelotti, Rasmus Højlund —, Erik ten Hag, United, Casemiro, , Mauro Icardi, Elye Wahi, Gabriel Jesus, Wahi, Adrien Thomasson, Declan Rice, , hadn't, Bayern's Jamal Musiala, Lukas Lerager, Thomas Müller, Sven Ulreich, Bayern hasn't, André Castro, Sheraldo Becker, Castro, Mikel Oyarzabal, Méndez, Marcus Thuram, ___ Organizations: Champions League, Real Madrid, Napoli, Manchester United, Arsenal, Galatasaray, Lens, Madrid, Union Berlin, Borussia Dortmund, Turkish, United, League, Bayern Munich, PSV Eindhoven, French, AC Milan, Europe's, Bayern, Danish, Tel, Braga, Jude Bellingham ., PSV, Sevilla, Real Sociedad, Salzburg, season's, Inter Milan, Benfica, Sociedad Locations: English, England, Bellingham, Copenhagen, Madrid, Jude Bellingham . Union
In the years after Buffett sold IBM, he dramatically raised Berkshire's stake in Apple, becoming the largest shareholder outside of index and exchange-traded fund providers. As of the end of June, Berkshire's Apple stake was worth more than $177 billion, accounting for nearly half of Berkshire's entire equity portfolio. Buffett also admitted it was a mistake not being an early investor in Amazon , saying he underestimated the brilliance of founder Jeff Bezos. Some said that Buffett sold them too early and missed the subsequent rebound when the economy reopened. "It could've been worse, but it was a mistake," Buffett said during 1995 annual meeting .
Persons: Warren Buffett, he's, Buffett, Berkshire's, That's, Ben Graham, Jeff Bezos, Charlie Munger, we'll, I'd, Long, we'd, Richard Branson Organizations: Oracle, HP, Apple, Business Machines, IBM, Berkshire's Apple, Taiwan Semiconductor, Big Tech, Google, — United, Delta Air Lines, US Air, Virgin Atlantic Airways Locations: Omaha, Berkshire, Taiwan, U.S, American, Southwest
Political Cartoons View All 1148 Images“The Russian authorities are trying hard to pretend that everything is going according to plan, everything is fine. In the occupied regions, early voting kicked off last week as election officials went door to door or set up makeshift polling stations in public places to attract passersby. As a result, Moscow has maintained control of about 70% of the Kherson region. “It looks like the Russian authorities know the result (of the election) already,” Fyodorov said. In the end, said Gallyamov, the Russian analyst, Russian authorities will not get “anything good in terms of boosting their legitimacy” in the occupied regions.
Persons: Russia “, Abbas Gallyamov, , Gallyamov, Vladimir Putin, Putin, we’ve, ” Sergei, we’re, Konstantin, ” Kostantin, Weeks, Yevgeny Balitsky, , Ivan Fyodorov, Fyodorov, ” Fyodorov, , Pavlo Lysianskyi Organizations: Russian, Kyiv, of Europe, Kremlin, United, Communist Party, Liberal Democratic, Associated Press, AP, Eastern Human Rights Locations: TALLINN, Estonia, Ukraine, Moscow, Donetsk, Luhansk, Kherson, , Russia, United Russia, Russian, Zaporizhzhia, Siberia, Melitopol, Ukrainian
A 16-year-old cyclist located his bike using an Apple AirTag. However, using an Apple AirTag, the son quickly found his bike in the Brussels Airport, where Gray hopped on a connecting flight. Still, he told CNN, there was no movement on finding the bike — until he decided to reach out to Brussels Airport. AdvertisementAdvertisement"I just needed someone to care, and finally found someone who did," Barnett told CNN. Brussels Airlines did not immediately respond to a request for comment from Insider.
Persons: Luke Barnett, Gray, Barnett, Ella Dollinschi, We've Organizations: Apple, Service, EF, Cycling team's, CNN, Europe —, Brussels Airport, — United, US Department of Transportation, That's, Brussels, Airport, United Airlines, Brussels Airlines Locations: Wall, Silicon, Europe, Brussels, Greenville , South Carolina, Greenville, Spartanburg, Vermont
United Airlines issued a nationwide ground stop on Tuesday, the company confirmed with Insider. All United flights were held at their departure airports due to a "systemwide technology issue." All United flights were temporarily held at their departure airports for roughly an hour. The ground stop began at approximately 12:30 p.m. EST, according to the FAA. AdvertisementAdvertisementWe are experiencing a systemwide technology issue and are holding all aircraft at their departure airports.
Persons: United, Eric Swalwell Organizations: United Airlines, Service, Airborne, FAA, California Locations: Wall, Silicon, Denver, San Francisco , Kansas City, Houston, Dallas, Washington
DETROIT — United Auto Workers has filed unfair labor practice charges against automakers General Motors and Stellantis to the National Labor Relations Board for not bargaining with the union in good faith or a timely manner, UAW President Shawn Fain said Thursday night. The union did not file a complaint against Ford Motor , as Fain said the company responded to the UAW's demands with a counterproposal he heavily criticized. "GM and Stellantis' willful refusal to bargain in good faith is not only insulting and counterproductive, it's also illegal," Fain said during a Facebook Live. "That's why today, our union filed unfair labor practice charges, or ULPs, against both GM and Stellantis with the National Labor Relations Board." Regarding Ford's recent proposal, Fain called it "concessionary."
Persons: Shawn Fain, Fain, Stellantis, it's, Fain's, Ford, Jim Farley, Farley Organizations: DETROIT, United Auto Workers, General Motors, National Labor Relations Board, Ford Motor, GM, NLRB, , Ford
Nurphoto | Nurphoto | Getty ImagesMalaysia's Prime Minister Anwar Ibrahim has vowed to recover the money Malaysians are owed from the 1MDB money laundering scandal, and says he hasn't ruled out the possibility of a lawsuit against Goldman Sachs. Anwar said Malaysian agencies were still in talks with Goldman Sachs, though ongoing discussions are "a bit complex." Asked to comment on Anwar's interview, Goldman Sachs referred CNBC to its second quarter earnings statement. It remains to be seen what would come out of the standoff between Malaysia and Goldman Sachs. "No one can deny the fact that Goldman Sachs was used, and partly used the authorities," Anwar said in his interview.
Persons: Malaysia's, Anwar Ibrahim, Malaysia's King, hasn't, Goldman Sachs, Anwar, CNBC's Martin Soong, Goldman, Muhyiddin Yassin, I've, , Mahathir Mohamad, Anwar Malaysia's, Anwar's Pakatan, Najib Razak, Muhyiddin, Islam that's Organizations: Nurphoto, Getty, Malaysia's, 1Malaysia, Malaysia, CNBC, of, Malaysian, Barisan Nasional, Barisan, Perikatan Nasional coalition, Islamic, Malay Locations: Kuala Lumpur, Putrajaya, Malaysia, Malaysian, Anwar Ibrahim Malaysia, U.S, of Malaysia, United States, Malay, Federal
Workers in Asia are spending the most time on "performative work" — in other words, focusing on appearing busy more than doing real, productive work. Japan (63%), Singapore (63%) and India (57%) were ranked lowest for percentage of time spent on productive or "real work," Slack said. According to Laney, employees' focus on appearing busy is "likely influenced" by the way leaders are measuring productivity. For example, 44% of Singapore employees — the highest globally — say their productivity has been affected by spending "too much time" in meetings and emails. "There is an opportunity for companies to explore new and different ways of working, such as … adopting asynchronous ways of working rather than meetings, to facilitate more effective collaboration at work," Laney said.
Persons: Derek Laney, Slack, Laney, they're Organizations: Asia Pacific . Workers, Salesforce, Global, U.S, Derek Laney Technology, Employees Locations: Asia, India, Japan, Singapore, France, Kingdom, Australia, Germany, States, Korea, South Korea
International travel demand is outpacing domestic demand as Americans flock to Europe in 2023. Our international wanderlust may be a worrying trend for domestic airlines — but it makes now the perfect time to buy flights for fall and winter vacations within the US. Low-cost carriers Spirit Airlines , Frontier Airlines , and JetBlue Airways had similar outlooks. Redburn analyst James Goodall said Monday that domestic airlines are likely to feel this pressure for not just months, but years, Barron's reported . Frontier AirlinesAs domestic airlines take a hit, consumers could reap the benefits with cheap fares and fall promotions designed to stimulate demand.
Persons: you've, Hopper, Sonia Bhagwan, they've, Barry Biffle, James Goodall, Barron's, Goodall, — Hopper, Bhagwan, she's, airfare Organizations: Carriers, JetBlue, Bank of America, American Airlines, Delta Air Lines, United Airlines, , Atlantic, Southwest Airlines, Spirit Airlines, Frontier Airlines, JetBlue Airways, CNBC, Airlines, Southwest, Bloomberg, nab Locations: Europe, Greece, heatwaves, Spain, Italy, Asia, COVID, United, Delta, Texas, Mexico, Caribbean, Paris
In its latest quarter, Netflix posted earnings of $3.29 per share on revenue of $8.19 billion. IBM — The business services company's shares shed 0.7% following its mixed second-quarter earnings report. The company posted revenue of $15.48 billion, missing Wall Street's forecast of $15.58 billion, according to Refinitiv. IBM reported adjusted earnings of $2.18 per share, which was higher than analysts' consensus estimate of $2.01 per share. Tesla — Tesla shares fluctuated near the flatline following its second-quarter earnings announcement.
Persons: Refinitiv, Zions Organizations: Netflix, IBM, United Airlines — United Airlines, American Airlines, Zions Bancorp, Las Vegas Sands, Vegas Sands, Discover Locations: Newark , New Jersey, Las Vegas
Rebecca Cook | ReutersDETROIT — United Auto Workers President Shawn Fain promised union members he'd do things differently during contract talks with the Detroit automakers this year. Playing hard ball"We're in the process of changing the culture of this union from a reactionary, defensive union, to an aggressive and offensive-minded union," Fain said last month during a Facebook livestream. The deals cover roughly 150,000 UAW members who work for the automakers. United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. "The federal government is pouring billions into the electric vehicle transition, with no strings attached and no commitment to workers," Fain said earlier this year.
Persons: Shawn Fain, Rebecca Cook, he'd, Fain, Gary Jones, Bill Ford, Ford Fain, , Jim Farley, Chuck Browning, We've, … We're, Joe Biden, John Murphy, Stellantis, Reuters Stellantis, What's, Michael Wayland, BofA's Murphy, Steve Fecht Organizations: Reuters DETROIT — United Auto Workers, Detroit, UAW, Motors, Ford Motor, Ford, Headquarters, Facebook, " Bank of America Securities, General Motors, BofA Securities, GM, Fiat Chrysler, Fiat Chrysler Automobiles, FCA Sterling Heights Assembly, Reuters, United Auto, United Auto Workers, Hamtramck Assembly, CNBC, Center for Automotive Research, Deere, Co, Caterpillar, Ultium Cells, LG Energy, Tech Center Locations: Detroit, Illinois, Stellantis, Sterling Heights , Michigan, Hamtramck, Lordstown , Ohio, Warren , Michigan
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Most hotel, airline, and credit card loyalty programs offer you the ability to donate your rewards directly to charity. Here's how to turn your credit card spending into a force for social good. Donate your points to charityMost hotel, airline, and credit card rewards programs allow you to donate your cash back, points, and miles directly to a number of well-respected nonprofits. The best credit cards for earning rewards on your donationsMany credit cards offer bonus points for your spending in categories like dining out or office supplies.
Persons: , Miles, JustGiving Hilton, Hilton Organizations: Mastercard, Chase, American Express, Service, American Airlines —, Heroes American, JustGiving, JetBlue, United Airlines — United, Americares Foundation, doesn't, Hyatt Credit, American Airlines, Hyatt, Bank of America's, Wildlife Fund, U.S . Bank Locations: Miles, America, American
A new report estimates that Ukraine is losing roughly 10,000 drones every month. A sophisticated electronic warfare system is among Russia's biggest strengths, researchers said. Patton Rogers said that while the figures are "likely" overestimated, they underline just how effective Russia's electronic warfare has become at countering Ukraine's extensive use of drones. Sophisticated Russian systems such as the Shipovnik-Aero jamming station are hard to detect and can imitate other signals, the researchers said. But by the summer of 2022 it was clear that Russia's electronic warfare and air defense capabilities had ramped up, as Insider's Alia Shoaib reported.
Power, the speed of boarding has only a partial impact on passengers' satisfaction. "Most economy passengers like Southwest boarding process the best, because it seems more egalitarian," Taylor explained. "There's a high correlation between the people skills of an airline and how people like their boarding process," Taylor said. "It's the deadline pressure that reduces satisfaction," Taylor explained. Customer satisfaction, Taylor said, is rarely about how fast you can get something done.
Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, the UAE leader's eldest son, is now the oil-rich Middle Eastern country's crown prince, effectively next in line for its leadership. Sheikh Tahnoon was already named chair of the $790 billion Abu Dhabi Investment Authority, the emirate's main sovereign wealth fund, earlier in March. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of the Emirate of Abu Dhabi. He described the decision as "formalizing the leverage Abu Dhabi has over Dubai, and how little Dubai will be allowed to say in foreign policy." Prime Minister and Vice-President of the United Arab Emirates and ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum attends the Global Women's Forum in Dubai, United Arab Emirates, February 16, 2020.
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