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When comparing personal wealth data with homeownership, a curious pattern emerges: Many states with high homeownership rates have lower income levels and vice versa. According to Federal Reserve data, West Virginia’s average personal income of $52,585 per capita is the second-lowest in the US. However, despite its relatively low personal income levels, it has the highest homeownership rate of all 50 states, at 77%, according to US census data. Mississippi—the only state with a lower average personal income than West Virginia—has the third-highest homeownership rate in the country. Even West Virginia, which counts three out of every four housing units in the state as owner-occupied, isn’t insulated, Sansalone said.
Persons: Vera Sansalone, Sansalone, , , ” Sansalone, West Virginia —, Mike Simonsen, Loren Elliott, Simonsen, They’re, ” Simonsen, Laurie Goodman, ” Goodman, Eric Adams, ” Adams, Stephanie Moulton, ” Moulton, “ We’ve Organizations: CNN, Federal Reserve, West Virginia, Research, Housing, Center, Urban Institute, Republicans, New York City, Harvard University’s, for Housing Studies, Ohio State University Locations: West Virginia, Mannington, Boston, Mississippi, West, ” New York , California, Massachusetts, San Francisco , California, New York City, San Francisco, Manhattan, RentCafe, Washington DC, New York, Dallas
To determine the best books of the 21st century , The New York Times Book Review and The Upshot polled hundreds of literary luminaries. Stephen King Stephen King has written more than 60 books, many of which have been adapted for film and television. Min Jin Lee Min Jin Lee has written two novels: FREE FOOD FOR MILLIONAIRES and PACHINKO, which was one of The Times’s 10 Best Books of 2017. Scott Turow Scott Turow is an attorney and writer best known for legal thrillers like PRESUMED INNOCENT and THE BURDEN OF PROOF. DU BOIS, was one of The Times’s 10 Best Books of 2021.
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CNBC TechCheck Evening Edition: July 08, 2024
  + stars: | 2024-07-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC TechCheck Evening Edition: July 08, 2024CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.
Persons: TechCheck Organizations: CNBC Locations: San Francisco
CNN —President Joe Biden told top donors on a video call Monday that he is still the best candidate to defeat former President Donald Trump as the Biden campaign and the White House sought to move beyond a crisis threatening to consume the Democratic Party. “It’s still a huge hole to climb out of,” the Democratic donor said, speaking on condition of anonymity to avoid alienating the campaign. While the Biden campaign has pointed to a rush of small-dollar donations over the past week, a senior adviser said the falloff among high-dollar contributors was highly troubling. Morgan blamed Biden’s campaign team for his debate performance and argued that Vice President Kamala Harris is in place “if something happens” to Biden. And that’s what people need to be focusing on.”Phillips said anxious Democratic donors “need to get out of their feelings” and instead put their energy behind turning out those voters and selling them on the administration’s accomplishments.
Persons: Joe Biden, Donald Trump, Biden, , I’m, ” Biden, , It’s, Trump, ” “ We’re, he’ll, , Wes Moore, “ It’s, Chris Korge, “ I’m, Joe ”, Harris, John Morgan, They’ve, Morgan, ” Morgan, Biden’s, Kamala Harris, Steve Phillips, Phillips, ” Phillips, CNN’s Donald Judd, MJ Lee Organizations: CNN, White, Democratic Party, Trump, , House Democrats, MSNBC, Democratic, Heritage Foundation, ABC, campaign’s National Finance, Maryland Gov, National Finance Committee, Democratic National, Biden, Republicans Locations: American, Atlanta, Florida, San Francisco
CNN —Travis Kelce and Taylor Swift’s love affair is “so high school” in the best way. Travis Kelce and Patrick Mahomes are besties as well as teammates. I’ve never dealt with it,” Kelce told the publication of Swift’s life in the spotlight. I especially love football because my boys have been doing it for so long,” Donna Kelce told CNN at the time. Taylor Swift is joined on stage by Travis Kelce during an Eras Tour performance at Wembley Stadium in London on June 23.
Persons: CNN — Travis Kelce, Taylor, there’s, Kelce, Swift, Jason, Travis Kelce, , , Taylor Swift, ” Kelce, “ I’m, Andrew Siciliano, Pat McAfee, ‘ I’ve, ” Swift, Donna Kelce, Jason Hanna, “ Traylor, ” “, Blake Lively, Ryan Reynolds, ” Donna Kelce, ” Travis Kelce, Johnny Nunez, Brittany Mahomes, Patrick Mahomes, Joe Alwyn –, Karma, , I’ve, I’m, Kylie Kelce, Jason Kelce, Mark J, Kylie, “ Tay, Love, , Mama Kelce, Travis, Patrick T, Fallon, concertgoers, Department ”, Swifties, Said it’s, Prince William, Prince George, Princess Charlotte, wasn’t, Gareth Cattermole Organizations: CNN, Super Bowl, Kansas, that’s, Kansas City Chiefs, NFL, Chicago Bears, GEHA, Arrowhead, Getty, New York Jets, MetLife, Kansas City, Chiefs, Los Angeles Chargers, , Philadelphia Eagles, Buffalo Bills, AFC, USA, Sports, Reuters, Super, Bowl, San Francisco 49ers, Allegiant, Sydney, Coachella, Department, Poets Department, Wembley, Locations: Kansas City, Arrowhead, Kansas City , Missouri, New York, New York City, Buenos Aires, Argentina, Orchard Park , New York, Las Vegas , Nevada, Australia, Lake Como, Italy, Europe, London
At The Wall Street Journal's Global Food Forum in June, Joe Erlinger, the president of McDonald's US, detailed the company's missteps in meatless burgers and salads. Over the years, McDonald's has been able to fold in some noncore items — namely, coffee and chicken. It's not just consumer demand that's keeping McDonald's menu limited to the more-traditional, less-than-body-boosting items — it's its franchisees, too. And no one goes to McDonald's looking for greens. And no one goes to McDonald's looking for greens.
Persons: McDonald's, Joe Erlinger, Erlinger, Darren Tristano, Danilo Gargiulo, it's, Tristano, Benedict, hasn't, Gargiulo, Burger King, Burger, It's, they're, Emily Stewart Organizations: Food Forum, Dallas, Bernstein, Foods, Apple, Toyota, Consumers, McDonald's, Business Locations: San Francisco, Europe, Sweetgreen, Cava, McDonald's, Australia, Chicago
Here are five "third places" where San Francisco's founders, VCs, and tech workers are gathering. GroundfloorGroundfloor Sri MuppidiFounded in 2021, Groundfloor is a brightly lit community space located in the heart of San Francisco's Mission neighborhood. The space also doubles as a social space. AdvertisementThe Center SFThe Center SF The Center SFThe Center SF is a community hub located in a large Victorian house. The community space is funded entirely by donations.
Persons: , Francisco, Ray Oldenburg, Sean Ang, Ang, Elizabeth Young, Max Wolff, they've, Zack Wexler, San Francisco Baybay Organizations: Service, Tech, San Francisco, Business, Groundfloor, Club, San, San Francisco Standard, Visitors Locations: San, Hayes Valley, Muppidi, Francisco's, Groundfloor, San Francisco
Artificial intelligence has been a big boon for San Francisco real estate. The vacancy rate for San Francisco office space reached a fresh record of 34.5% in the second quarter, according to a report Monday from commercial real estate firm Cushman & Wakefield. "San Francisco is certainly the center of AI, but AI is not going to save the San Francisco commercial real estate market," Sammons said. Vacant office space across San Francisco for the quarter totaled 29.6 million square feet, Cushman & Wakefield said. WATCH: Commercial real estate vacancies in San Francisco are at an all-time high
Persons: OpenAI, Robert Sammons, Anthropic, Sammons, That's, Cushman & Wakefield Organizations: San, Tech, Microsoft, Cushman &, San Francisco, Wells Locations: San Francisco, Wakefield, Mission, Cushman & Wakefield, Francisco, Wells Fargo, Cushman
Read previewFrom priceless artwork to "Star Wars" memorabilia, you can tell a lot about a chief executive by how they decorate their office. Their high salaries, and even higher net worths, mean CEOs have the power to deck their workspaces out with more than everyday knickknacks. Here's how they decorate the spaces where they run their companies,AdvertisementBernard ArnaultLVMH CEO Bernard Arnault's office design matches the luxury empire her runs. ERIC PIERMONT/AFP/Getty ImagesWith a net worth of $201 billion, according to Bloomberg, LVMH top boss Bernard Arnault has very expensive taste. Tim CookApple CEO Tim Cook pays homage to Robert F. Kennedy with his office decor.
Persons: , Mark Zuckerberg, Salesforce's Marc Benioff, Bernard Arnault, Bernard Arnault's, ERIC PIERMONT, Louis Vuitton, Dom Pérignon, Dior, Andy Warhol, Tim Cook, Robert F, Kennedy, Justin Sullivan, Jenny Chang, Rodriguez, Cook, Marc Benioff, Kevin Dietsch, Forbes, Benioff, Princess Leia, Darth Maul, Sully, Mark Zuckerberg Mark Zuckerberg, Jeff Bottari, Zuckerberg, didn't, We've, it's Organizations: Service, Business, Getty, Bloomberg, Eiffel, Apple, Auburn University, UFC, Facebook Locations: AFP, Paris, Alabama, Cupertino, mater, Hawaii, San Francisco, Las Vegas
Waymo's autonomous driver is pretty damn smart, and aside from a few hesitations, the robotaxi offers a smooth, comfortable experience with competitive pricing against other ride-hailing apps. Lloyd Lee/Business InsiderWaymo's 5th generation autonomous driver could be best described as a safe but not an annoyingly cautious driver. It did the same thing to give itself more room when it detected a large parked bucket truck slightly in Waymo's lane. The expectation I had that the Waymo driver would be stiff, as the term "robot taxi" might suggest, was dispelled throughout the rides. The spokesperson said it's also possible I failed to notice something the Waymo car picked up.
Persons: , San Francisco —, Uber, Lloyd Lee, Spokespeople, Lyft, Andrew Macdonald, Uber's, Waymo, Waymo's, BI's Peter Kafka, it's Organizations: Service, Business, Financial, SF, PACE, Jaguars Locations: San Francisco, Los Angeles, Austin, Pine
Johnson and Truman left under pressure, handed the White House over to the other partyComparisons between Biden and any of these presidents are not perfect. Both Johnson and Truman then won the White House in their own right. Humphrey would go on to lose the White House to Richard Nixon, but Democrats kept control of the House and the Senate. Democrats lost control of the White House and the Senate in 1860, and Lincoln became the first Republican president. Reforming the civil service was a major issue of the day, and it played into Hayes’ decision, according to his letter accepting the Republican nomination in 1876.
Persons: Joe Biden, Donald Trump, Harry S, Truman, Lyndon B, Johnson, Biden, Dwight Eisenhower, Hubert Humphrey, Humphrey, Richard Nixon, Roosevelt, Coolidge, Theodore Roosevelt, Calvin Coolidge, William Howard Taft, Taft, Bull Moose, Woodrow Wilson, Warren G, Harding, Herbert Hoover, curt, , ” –, James K, Zachary Taylor, Martin Van Buren, Taylor, James Buchanan, Buchanan, Abraham Lincoln’s, seceding, He’s, Lincoln, Rutherford B, Hayes, James Garfield, Garfield Organizations: CNN, Republicans, White, Democratic, Convention, Senate, Democratic National Convention, GOP, Republican, Democrats, Whig Party, Hayes, Trump Locations: New Hampshire, Washington, Chicago, San Francisco, Southern
“I was like, ‘Okay, let’s see what the guys look like in Vienna,’” Carter recalls. “If I’m going to meet up with this guy, I should FaceTime him to make sure he’s real,” she thought. “I was thinking, ‘This is either going to go really good or really bad,’” Carter recalls. “It went from zero to 100, really, really quick, in terms of comfort. And either I’m going to have to move here, or he’s going to have to move to America.
Persons: CNN — Carter Leathers, Italy –, Carter, Max Ratzenböck, ” Carter, Max, she’d, , , ‘ I’m, ’ ”, whiling, , ’ ” Carter, I’d, it’s, I’m, Bumble, Max swiped, Max couldn’t, ” Max, Carter Ratzenböck Carter, Florence –, he’d, “ I’m, We’d, you’re, Carter’s, , Pretty, Max's, Carter Ratzenböck, Florence’s, ” Here's Carter, marveling, He’s, they’d, ‘ We’re, They’d, Alex Katz, Austria who’d, “ It’s, “ I’ve, Max’s, ” Carter didn’t, Europe – she’d, Carter –, serendipitously, Max it’s, Max – Organizations: CNN, CNN Travel, Austrian, Opera House, Schönbrunn, Ferris, Viennese Opera, Vienna, Intelligence, , America Locations: Florence, Italy, Sacramento , California, Europe, California, Rome, Vienna, Austria, Austrian, Tuscany, Italian, Ponte Vecchio, osterias, , , America, Sacramento, San Francisco, Napa Valley, Monterey, Paris, accilimatize, Ponte
America’s job market remains solid, but it has lost momentum over the past year. The Federal Reserve is watching closely to see if it will continue to hold up or weaken more than expected. Fed Chair Jerome Powell said this week at an economic forum in Portugal that the risk of inflation reaccelerating has come into better balance with the risk of the job market unexpectedly deteriorating. Fed officials indicated in their latest economic projections that they expect to cut interest rates just once this year, which have been at a 23-year high for a year now. It rose to 4.1% in June, according to the Labor Department’s latest tally.
Persons: Jerome Powell, ” Powell, , Mary Daly Organizations: Federal, ” San Francisco Fed, Labor Locations: Portugal, ” San
“We’d also like to see the labor market remain strong. For years, the Fed had been watching the job market for a different reason. Officials had worried that if conditions in the labor market remained too tight for too long, with employers fighting to hire and paying ever-rising wages to attract workers, it could help keep inflation faster than usual. But recently, job openings have come down and wage growth has abated, signals that the job market is cooling from its boil. “Future labor market slowing could translate into higher unemployment, as firms need to adjust not just vacancies but actual jobs.”
Persons: Jerome H, Powell, “ We’d, We’ve, Mary C, Daly, Organizations: Wall Street, Federal Reserve Bank of San Locations: Federal Reserve Bank of San Francisco
CNN —France edged into into the semifinals of Euro 2024 after beating Portugal 5-3 in a penalty shootout after the game finished 0-0 on Friday. Theo Hernández scored the decisive penalty to seal the quarterfinal victory in Hamburg, after João Félix had hit the post earlier in the shootout. Meanwhile, Ronaldo scored Portugal’s first penalty of the shootout, though he also missed a golden chance during normal time when he was set up by Francisco Conceição. Mbappé celebrates after France beats Portugal. Theo Hernández scores France's winning penalty against Portugal.
Persons: Theo Hernández, João Félix, Cristiano Ronaldo, Mbappé, Ronaldo, Portugal’s, Francisco Conceição, Chris Brunskill, Hernández, Diogo Costa, N’Golo Kanté, Bruno Fernandes, Fernandes, Mike Maignan, Randal Kolo Muani, Jules Koundé, Rúben Dias, Eduardo Camavinga’s, Ousmane Dembélé, Germain, Upamecano, Rafael Leão, Didier Deschamps, Justin Setterfield, Nuno Mendes ’, Dembélé, Felix, Bradley Barcola, Costa –, Lars Baron Organizations: CNN, Portugal, France, Slovenia, Manchester United, Paris Saint Locations: France, Hamburg, Spain, Munich, Portugal, Costa, Conceição, Portuguese
That was the verdict from some devoted Democratic voters who nervously tuned in to watch President Biden’s interview with ABC News on Friday. “I think he showed in this interview he’s cognitively there,” said Jayden D’Onofrio, 19, chairman of the Florida Future Leaders PAC, which represents high-school and college Democrats in the state. He was frustrated that Mr. Biden would not submit to a cognitive test, and said Mr. Biden’s doubling down on his refusal to leave the race could spell electoral doom for Democrats. “Biden is not demonstrating the traits that generate much confidence,” Mr. Avalos said. “There are 300 million people who rely on his cognitive abilities, and he’s unwilling to take a test because of his pride?”
Persons: Biden’s, , , Jayden D’Onofrio, John Avalos, Biden, “ Biden, ” Mr, Avalos Organizations: Democratic, ABC News, Florida Future, PAC, Democrats, San Locations: San Francisco
Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street . New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. Crypto stocks — Stocks tied to the cryptocurrency plummeted after the trustee for the now defunct Mt. SoftBank Group , Arm Holdings — U.S. shares of SoftBank rose 5.5% after Japanese shares hit their first record high in 24 years on Thursday. Teck Resources — The stock rose more than 2% after Bloomberg reported Thursday that Canada had approved Glencore's $6.9 billion acquisition of Teck's metallurgical coal business.
Persons: Macy's, Stocks, Energy, CleanSpark, Masayoshi, SoftBank, Nio, Zeekr, Li, Emmanuel Papadakis, Teck, Alex Harring, Jesse Pound Organizations: Nvidia, New, Research, Street Journal, Arkhouse Management, Brigade Capital Management, Marathon, SoftBank, Arm Holdings —, Reuters, Francisco Partners, KKR, , European Union, Li Auto, Novo Nordisk, Novo Nordisk's Ozempic, Deutsche Bank, Harvard Medical, Bloomberg, Getty Locations: SoftBank, Europe, Novo, Teck
Getty Images; Shutterstock; BIThe traditional path to private equity starts with an investment banking job out of college. In 2023, private equity firms started reaching out in July before junior investment bankers finished their summer training. But at its core, private equity is in the business of making money by buying and running companies. Samantha Lee/InsiderA small group of headhunters and other advisors hold power over the private equity recruitment process. More on private equity pay and hiring:Have private equity's 'Hunger Games' recruiting tactics gone too far?
Persons: , Blackstone, Apollo isn't, Goldman Sachs, it's, David Wurtzbacher, Wurtzbacher, Wharton, Graham Weaver, you've, Samantha Lee, We've, Jon Gray, Drew Angerer, Skye Gould, Steve Schwarzman, Jonathan Gray, Gray, Thoma Bravo, Atlantic's, Carlyle, Warburg Pincus, Wharton's, Axel Springer Organizations: Service, Apollo, KKR, Business, Getty, CPA, BI, Alpine Partners, Alpine's, Harvard Business School, Stanford's Graduate School of Business, Alpine, of Foreign Labor, Bain Capital, Blackstone, Harvard, Games, Wall, Citadel, headhunters, dealmakers, Private, PJT Partners, Centerbridge, of Michigan Locations: San Francisco, UPenn, Carlyle, Blackstone, Axel
On defying her agents to star in 'Bound' and finding Corky's look in San Francisco lesbian barsJennifer Tilly and Gina Gershon in "Bound." I was hesitant to take on any role coming off of "Showgirls," just because, honestly, I was pretty burnt out. When the script for "Bound" was sent to us, my agents were pretty clear saying, "Listen, you are not doing this movie. On her 'Showgirls' PTSD and why she's come around on the movieGina Gershon in "Showgirls." I'm really into it."
Persons: Gina Gershon, , It's, Gershon, Louie, who's, she's, Paul Verhoeven's, Corky, Jennifer Tilly's femme, Violet, Jennifer Tilly, Lana, Lilly Wachowski, They've, I've, Susie Bright, Jennifer, Tilly, Susie, couldn't, I'm, Let's, Elizabeth Berkley's, Lili Anolik, Paul, Verhoeven, Chekhov, I'd, That's, you've, she'd, Matthew McConaughey, Joe, Matthew McConaughey's, Tracy Letts, William Friedkin, Billy wasn't, Billy, Matthew, Nicolas Cage, Nicolas, John Woo …, John Woo, Nick Cassavetes, John, Jason Guerrasio, Cate Blanchett, Jamie Lee Curtis, Kevin Hart Organizations: Business, Pride, LD Locations: San Francisco
Crypto stocks — Stocks tied to bitcoin price slid after the cryptocurrency dropped 5% to its lowest level since February , with the now defunct Mt. Macy's — Shares of the retailer jumped more than 6% following a Wall Street Journal report that an investor group has hiked its takeout offer. Arkhouse Management and Brigade Capital Management are now offering about $24.80 per share for Macy's, up from $24 previously, the report said. Tesla — The electric vehicle manufacturer popped 2%, marking a continuing comeback after its second-quarter vehicle deliveries number beat analyst estimates earlier this week. Shell — Shares popped 1%.
Persons: Stocks, Energy, CleanSpark, Instructure, Tesla, CNBC's Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: Marathon, Francisco Partners, KKR, Reuters, Macy's, Journal, Arkhouse Management, Brigade Capital Management, Novo Nordisk —, Harvard, Novo Nordisk's Ozempic, Deutsche Bank, Shell Locations: Novo, Singapore, Rotterdam
Working at Google for 12 years changed how Frederik Pferdt approaches his work and his daily routine. As the tech giant's first-ever Chief Innovation Evangelist, Pferdt sought to create a more cohesive structure for nurturing creativity across divisions. Pferdt created the company's Innovation Lab and co-founded the Google Garage, where he encouraged thousands of employees to collaborate and experiment on fresh ideas. Before deciding to leave Google in 2022, he learned several important lessons, including from co-founders Larry Page and Sergey Brin, he tells CNBC Make It. But his top three lessons aren't just useful for tech workers: They can help anyone "live a more meaningful life," he says.
Persons: Frederik Pferdt, Pferdt, Larry Page, Sergey Brin, aren't Organizations: Google, CNBC, Stanford Locations: San Francisco
That's because after using a job simulation tool for a short time, I have a better sense of what working at the prestigious consulting firm might be like. This story is available exclusively to Business Insider subscribers. He told Business Insider that, growing up in a small town in Australia, he didn't come from a line of bankers, lawyers, or accountants. In the roughly 90 minutes I spent using Forage, the tool made me do some work. The tool also made me think like a consultant — or at least try to.
Persons: , they'd, Goldman Sachs, Tom Brunskill, Brunskill Organizations: Service, Boston Consulting, KPMG, JPMorgan, Business, EAB Locations: San Francisco, Australia
Kim started working at Trader Joe's 10 days after getting laid off from Google. So just 10 days after getting laid off, I started a part-time role at Trader Joe's. Related storiesI would work three morning shifts at Trader Joe's, Starbucks in the afternoons and drive for Lyft in between. After almost a year I quit my job at Starbucks and I was promoted to a manager role at Trader Joe's. I made a point of remembering 100 people's names at Trader Joe's within my first month.
Persons: , Kim, Lois Kim, You've, I've, Joe's Organizations: Service, Google, Business, San, San Francisco Bay Area, Joe's, Starbucks Locations: Korea, San Francisco Bay
Women's soccer is bringing private equity off the sidelines. While other major U.S. sports leagues – Major League Soccer, the National Basketball Association, Major League Baseball and the National Hockey League – have allowed private equity investors to take passive, minority stakes, only the National Women's Soccer League has allowed these firms to take majority control of the economics. Sixth Street was the first to own a team in building out the San Francisco women's team, Bay FC, last year. The second-ever such deal closed a few weeks ago, as Carlyle partnered with men's team, the Seattle Sounders FC, to buy that city's counterpart in the NWSL, the Reign FC. Popov said NWSL attendance, up more than 40% this year, is evidence of the momentum in the sport.
Persons: Jessica Berman, San Francisco women's, Carlyle, Adrian Hanauer, Alex Popov, Popov Organizations: – Major League Soccer, National Basketball Association, Major League Baseball, National Hockey League, National Women's Soccer League, CNBC, Sixth, San, Bay FC, men's, Seattle Sounders FC, FC, Sounders FC, Reign FC, NWSL Board
Liaw founded the Vegas Tech Summit, a multi-day tech conference promoting Vegas as a burgeoning tech center. It's not the same San Francisco as before. AdvertisementI had been living in San Francisco for about 15 years before I moved. The Bay Area had so much to offer, including a thriving entrepreneurial and tech ecosystem that made very smart people smarter. I don't appreciate it when people turn it into a homelessness issue because San Francisco has had homeless people before and found ways to provide services.
Persons: , Teddy Liaw, Liaw, San, It's, it's, San Francisco, I've, Vegas Organizations: Service, Vegas Tech Summit, Business, Vegas, Mount, Area, Vegas Tech Locations: San Francisco, Summerlin , Nevada, Las Vegas, Bay, Vegas, It's, Angeles , Washington State, Texas, California, Mount Charleston
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