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Peloton on Thursday said it has appointed Peter Stern, a Ford executive and the cofounder of Apple Fitness+ to be its next CEO and president. Stern, the president of Ford Integrated Services, primarily oversees the automotive company's subscription services, such as BlueCruise, Pro Intelligence, connectivity and security. Stern is slated to step down from his role at Ford and take the helm of Peloton on Jan. 1. Stern is the third CEO to lead Peloton in its history. "Peter is a seasoned strategist with a track record of driving sustainable growth through innovation, and we have every confidence in his ability to lead Peloton during this important time.
Persons: Peter Stern, Stern, Karen Boone, Chris Bruzzo, Boone, Bruzzo, Peter, Jay Hoag, Barry McCarthy, McCarthy, John Foley Organizations: Ford, Apple, Ford Integrated Services, Pro Intelligence, Interim, Spotify, Netflix
CNN —The identity of bitcoin creator Satoshi Nakamoto has long been one of the biggest mysteries of the internet age. Yet the man that director Cullen Hoback’s film names as the 2009 founder of bitcoin is denying he is Satoshi Nakamoto. “For the record, I’m not Satoshi,” Peter Todd, a bitcoin core developer, told CNN in a statement. Hoback’s evidence includes a 2010 bitcoin message board post from Todd that he concludes was written by Satoshi Nakamoto. I gave Peter Todd every opportunity to contradict the claims, to explain the claims.
Persons: Satoshi Nakamoto, , Cullen Hoback’s, bitcoin, ” Peter Todd, Todd, “ Cullen, “ Peter, ” Hoback, Hoback, Satoshi Nakamoto’s, he’s, Cullen Hoback, You’re, Satoshi, It’s, Craig Wright, They’re, you’ve, Peter Todd, I’ve, Adam Back, Adam, Peter, Roger Ver, Let’s, Peter Todd’s, ” Todd, I’m, Todd “, ” “ He’s, “ Peter’s Organizations: CNN, HBO, Warner Bros ., ” CNN, Newsweek Locations: Latvia, Satoshi’s
Rose was one of baseball’s greats – a winning-obsessed sparkplug who topped MLB’s all-time hit list with 4,256 over a 24-season career. It wasn’t until 2004 that Rose publicly admitted betting on baseball and the Reds, though he denied ever betting against his own team. Sometimes, on the weekend of baseball Hall of Fame inductions in Cooperstown, New York, he also would hold autograph sessions at a nearby bookstore. While Cooperstown didn’t admit him into its Hall of Fame, the Reds got him into theirs with the commissioner’s permission. That was the perfect way to capture Rose, said Johnny Bench, the Hall of Fame catcher.
Persons: Pete Rose, League Baseball’s, Rose, , “ Charlie Hustle, , John Dowd’s, Bartlett Giamatti, he’d, ” “, Giamatti, Dowd, Rose didn’t, Murray Chass, Rob Manfred, ” Manfred, , I’m, , Peter Edward Rose, LaVerne, Harry Francis “ Pete ” Rose, ” Rose, Hank Aaron, Willie Mays, Koufax, Don, Drysdale, Marichal, Bob, Gibson, Charlie Hustle, Whitey Ford, Ray Fosse, Fosse, of Famers Joe Morgan, Johnny Bench, Tony Perez –, Ty Cobb’s, Pete Rose Jr, Pete Rose’s, Pete, Bench, Rose Jr Organizations: CNN, League, Cincinnati Reds, National Baseball Hall of Fame, Clark, Office, Medical, , Reds, Philadelphia Phillies, National League, MLB, Baseball Hall of Fame, ESPN Radio, ESPN2, , New York Times, of Fame, Yankees, Cincinnati, Major, Defense, Major League, American League, of Famers, Phillies, Montreal Expos, Ty Cobb’s Major League, San Diego Padres, Cooperstown, The Reds Locations: Nevada, ,, Cincinnati, Las Vegas, Cooperstown , New York
The new documentary “Super/Man: The Christopher Reeve Story” reconstructs his life and career, ultimately rendering a sensitive, harrowing and incredibly human portrait of the man as actor, advocate, husband and father. “You don’t overcome grief, you live with grief,” Bonhôte said in a recent interview with CNN. Reeve also worked with the American Paralysis Association, which soon became the Christopher Reeve Foundation. Ettedgui, who identifies himself as “definitely a Superman kid,” was moved by Reeve’s obvious effect on those around him, but was also “struck” by his internal journey. 24-year-old American actor Christopher Reeve plays the comic-book hero as he mends a broken railway track in a scene from the film "Superman."
Persons: Christopher Reeve, Reeve, , Ian Bonhôte, Peter Ettedgui –, “ McQueen ”, , ” Bonhôte, , Ettedgui, Chris, ” Ettedgui, Robin Williams, Jeff Daniels, William Hurt, Daniels, Dana, Will –, Will Reeve, Matthew, Alexandra, It’s Organizations: CNN, Netflix, Reeve Foundation, Juilliard, CNN Films, HBO, Films, DC Studios, Warner Bros . Locations: Virginia, Hollywood, , American, New York
Opinion | Biden’s Proposed Supreme Court Reforms
  + stars: | 2024-08-04 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “The Election Is Crucial to the Future of the Supreme Court,” by Erwin Chemerinsky (Opinion guest essay, July 31):Regarding this essay supporting President Biden’s effort to reform the Supreme Court, as well as the current Democratic push in this same direction, does anyone seriously believe that this would be an issue at all if the Democrats were satisfied with the Supreme Court decisions? The only reason it is an issue is that they don’t like the recent results from that court, and that is the very reason that Supreme Court reform is a bad idea: It is 100 percent politically motivated. The movement would have a lot more credibility if it wasn’t arising immediately on the heels of recent Supreme Court decisions that the Democrats don’t like, such as expanding the scope of presidential immunity, overturning the Chevron doctrine and especially overturning Roe v. Wade. Peter E. MeltzerWynnewood, Pa.To the Editor:While I often agree with Erwin Chemerinsky, I differ here on two important points.
Persons: Erwin Chemerinsky, Biden’s, Roe, Wade, Peter E, Meltzer Wynnewood Organizations: Democratic Locations: Pa
A Delaware judge on Friday questioned lawyers for Tesla about why the company asked shareholders to vote on a $55 billion pay package for its chief executive, Elon Musk, after she had struck it down in January. The judge, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery, noted at a hearing in Wilmington that there was no legal precedent for the company’s decision, which led to an overwhelming shareholder vote in favor of the compensation package in June. “This has never been done before,” she said in an exchange with a lawyer representing Mr. Musk and Tesla’s directors. “There is no Delaware law on this, correct?”The lawyer, David E. Ross, acknowledged there was no exact precedent for having shareholders overturn a judge’s decision in similar cases. But he asserted that the June vote showed that Tesla’s shareholders were willing to award Mr. Musk the package even after being provided a lot more information about how it had been devised.
Persons: Tesla, Elon Musk, Chancellor Kathaleen St, J . McCormick, , David E, Ross Organizations: Chancery Locations: Delaware, Wilmington,
In Mr. Musk’s telling, one of Tesla’s main A.I.-based businesses will be driverless taxis, or robotaxis, that can operate pretty much anywhere and in any condition. Tesla is very close to perfecting such vehicles and will easily secure regulatory approval to put them on roads, Mr. Musk said last week on a conference call to discuss the company’s second quarter results. Mr. Musk’s vision of autonomous vehicles, or A.V.s, is not limited to cars that drive themselves. He has also claimed that individuals who buy Teslas would be able to make money when they are asleep or at work by letting the company use their cars as robotaxis. The robotaxi service will, Mr. Musk has said, catapult Tesla’s stock market valuation, around $700 billion now, into the trillions of dollars.
Persons: Elon Musk, Musk’s, Tesla, Musk Organizations: Wall
The National Transportation Safety Board issued a series of recommendations on Tuesday aimed at preventing the type of freight train derailment that occurred last year in East Palestine, Ohio, when 38 rail cars operated by Norfolk Southern came off the tracks. The safety agency also faulted Norfolk Southern for concluding that the hazardous material being transported on 11 of the rail cars was at risk of exploding. That conclusion led to a “vent and burn,” in which toxic chemicals were released and incinerated, resulting in vast plumes of dark smoke rising above the town. The controlled burn forced many residents of the town to evacuate. had previously raised doubts about the need for a vent and burn and at a meeting in East Palestine on Tuesday, the agency said the railway had “misinterpreted and disregarded evidence” in reaching that conclusion.
Persons: Norfolk Southern Organizations: Transportation Safety, Norfolk, Norfolk Southern Locations: East Palestine , Ohio, East Palestine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe could see a rate cut later this summer on the basis of weakening employment: AIER's Peter EarlePeter Earle, American Institute for Economic Research senior economist, and Brendan Duke, Center for American Progress senior director for economic policy and former White House National Economic Council senior policy adviser, join 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, rate path outlook, and more.
Persons: AIER's Peter Earle Peter Earle, Brendan Duke Organizations: American Institute for Economic Research, Center, American Progress, White, National Economic Council
Tesla shareholders have reaffirmed a pay award of more than $45 billion for Elon Musk, the chief executive, after it was thrown out in a legal challenge. The vote result, announced at Tesla’s annual meeting at its headquarters in Austin, Texas, on Thursday, is a strong sign that shareholders still believe in Mr. Musk, and it could persuade the judge who voided the award to reinstate it. Support for the pay award, made up of stock options, will come as a relief to Mr. Musk’s admirers, who feared that rejection would prompt him to spend less time managing Tesla or even quit. The vote was a setback for investors who had hoped it would send a message about the accountability of chief executives and the limits of executive pay. The outcome may also help Mr. Musk qualify as the world’s richest person, worth well over $200 billion.
Persons: Elon Musk Organizations: Elon Locations: Austin , Texas
Tesla Share Price Is Its Own Referendum on Musk
  + stars: | 2024-06-13 | by ( Peter Eavis | Jack Ewing | ) www.nytimes.com   time to read: +1 min
The Tesla shareholder vote over Elon Musk’s pay is in some ways a referendum on the performance of the company and its chief executive. Late on Wednesday, Mr. Musk claimed victory in a social media post, saying that votes in favor of his pay package were leading by “wide margins,” giving Tesla’s stock a boost. But even before the official results are announced on Thursday, Tesla’s flagging stock price shows that investors have plenty of doubts about Mr. Musk and the electric carmaker’s outlook. Tesla’s shares are down nearly 30 percent this year, even as the broader stock market is up 14 percent. At its peak in 2021, the stock market value of Tesla was $1.2 trillion, putting it in the company of tech giants like Microsoft, Apple and Google.
Persons: Musk, Tesla, Price Organizations: Elon, Microsoft, Apple, Google, Visa, Walmart
Frank’s Bay Tavern in the neighborhood of South Baltimore — house cocktail: the grain alcohol Bay Slinger — has been hit hard by the collapse of the Francis Scott Key Bridge. Dockworkers who once stopped in for a beer after crossing the bridge are taking other routes home, said Karen Zapushek, who runs the bar with her husband, Frank. Customers are also staying away, she said, because many more trucks are barreling past the bar, making the street outside, with its narrow sidewalks, feel even more dangerous. “We already had a problem with traffic in our community — and it’s just been really increased with the Key Bridge being down,” Ms. Zapushek said, adding that sales had plunged 40 percent since the bridge fell. “It’s really bad.”
Persons: Francis Scott Key, Dockworkers, Karen Zapushek, Frank, ” Ms, Zapushek, “ It’s, Locations: South Baltimore
Under Elon Musk’s leadership, Tesla popularized electric vehicles and became the most valuable auto company in the world. Mr. Musk became a billionaire many times over while generating huge profits for investors. Even so, Tesla’s shareholders may decide this week that Mr. Musk has been paid too much. With it, he is probably the richest person in the world, worth well over $200 billion. She ruled that Mr. Musk had largely dictated the terms to a board of directors stacked with close friends, people he made rich and his brother.
Persons: Tesla, Musk, Jeff Bezos Organizations: Elon Musk’s, Amazon, Shareholders Locations: Delaware
Last year, two unions representing workers at three large automakers and UPS negotiated new labor contracts that included big raises and other gains. Leaders of the unions — the United Automobile Workers and the Teamsters — hoped the wins would help them organize workers across their industry. The Teamsters have made even less progress at UPS’s big nonunion rivals in the delivery business, Amazon and FedEx. Polling shows that public support for unions is the highest it has been in decades. Many of the workers doing deliveries for Amazon and FedEx work for contractors, typically small and medium-size businesses that can be hard to organize.
Persons: Teamsters — Organizations: UPS, United Automobile Workers, Teamsters, Volkswagen, Mercedes, Benz, Amazon, FedEx, Polling Locations: Tennessee, Alabama
Norfolk Southern has agreed to pay more than $310 million to settle claims and cover costs stemming from the February 2023 derailment of a freight train carrying hazardous materials in an Ohio town, the federal government said on Thursday. The Department of Justice and the Environmental Protection Agency said the settlement, which still needs to be approved by a federal court, requires Norfolk Southern to improve rail safety and pay for cleanup costs and health and environmental monitoring in and around East Palestine, Ohio, where the accident happened. On a Friday night in early February last year, 38 rail cars on a Norfolk Southern train derailed, 11 of which were carrying hazard materials like vinyl chloride, a chemical used to make plastics. Days later, emergency responders, fearing an explosion, decided to release and burn vinyl chloride from derailed cars, sending vast plumes of dark smoke over the town. Hundreds of residents were evacuated and life in East Palestine was upended for months.
Persons: Michael S, Regan Organizations: Norfolk Southern, of Justice, Environmental Protection Agency, Norfolk Locations: Ohio, East Palestine , Ohio, Norfolk Southern, East Palestine
Experts react to April’s PPI report
  + stars: | 2024-05-14 | 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 EmailExperts react to April’s PPI reportPeter Earle, senior economist at the American Institute for Economic Research; Kitty Richards, senior fellow at Groundwork Collaborative; and CNBC's Rick Santelli join 'Squawk Box' to react to April's PPI data.
Persons: Peter Earle, Kitty Richards, Rick Santelli Organizations: PPI, American Institute for Economic Research
Shareholders of Norfolk Southern, the beleaguered freight railroad, on Thursday voted down an attempt by an activist investment firm to remove the company’s chief executive and take control of its board. But the activist, Ancora, a Cleveland firm, managed to secure a foothold at the company, after shareholders voted to place three of its directors onto Norfolk Southern’s 13-member board. Ancora had hoped to take control of the company’s leadership with an aim to cut costs and increase Norfolk Southern’s profits and stock price. The result is a partial victory for Norfolk Southern’s executives, who had to defend themselves against criticisms of the company’s safety record and its lackluster financial performance. The results of the shareholder vote, which are preliminary, were announced Thursday morning at a virtual company annual meeting.
Persons: Ancora Organizations: Norfolk Locations: Norfolk Southern, Cleveland, East Palestine , Ohio
After one of Norfolk Southern’s freight trains derailed last year, spilling hazardous chemicals in an Ohio town, the company’s leaders were assailed by lawmakers, regulators and angry residents, an onslaught the executives managed to survive. But Norfolk Southern’s management faces a fresh challenge this week from an investment firm that is asking shareholders to vote to replace the company’s chief executive, Alan Shaw, and appoint new directors to its board. The campaign by Ancora, a Cleveland investment firm, invokes the accident in East Palestine, the Ohio town, but its main aim is to overhaul Norfolk Southern’s business strategy to bolster its profits. The company’s leaders are vulnerable because Norfolk Southern’s stock price and profit margins lag those of its peers. Ancora’s plan in large part rests on cutting costs and making the company’s 19,100-mile rail network run more efficiently.
Persons: Alan Shaw, Ancora’s Organizations: Norfolk Locations: Norfolk, Ohio, Cleveland, East Palestine
Global shipping lines have become increasingly strained as the Houthi militia in Yemen broadens its attacks on cargo vessels, one of the largest companies in the industry warned on Monday. “The risk zone has expanded,” Maersk, the second-largest ocean carrier, said in a note to customers, adding that the stress was causing further delays and higher costs. Since late last year, the Houthis have been attacking ships in the Red Sea, which cargo vessels from Asia have to travel through to reach the Suez Canal. But in recent weeks, the Houthis have been trying to strike ships making that longer journey in the Indian Ocean. Because going around Africa takes longer, shipping companies have had to add more vessels to ensure that they can transport goods on time and without cutting volumes.
Persons: Organizations: ” Maersk Locations: Yemen, Red, Asia, Suez, Europe, Africa
New John Deere tractors made their way last week through the sprawling port of Brunswick, Ga., their distinctive green paint glinting in the sunshine. Stevedores drove the tractors up a ramp into the belly of the Leo Spirit, a ship that would take them to Asia. The bridge’s collapse closed most of the Port of Baltimore, which last year handled 1.3 million tons of farm and construction machinery and 850,000 cars and light trucks. The Deere tractors would normally be shipped from Baltimore, getting there on trains from a factory in Waterloo, Iowa, according to Georgia port officials. Instead, the tractors had to be trucked to Brunswick, a journey that adds time and costs.
Persons: John Deere, Stevedores, Leo Spirit, Francis Scott Key, , Griff Lynch Organizations: Deere, Georgia Ports Authority Locations: Brunswick, Ga, Asia, Coast, Baltimore, Port of Baltimore, Waterloo , Iowa, Georgia
Her son, a 33-year-old New York City man, had gone hiking in the Adirondack Mountains that March morning. Now, with up to 19 inches of snow forecast overnight and into the morning, she was worried. The same woman had called three weeks earlier because her son was late, and it turned out he was fine. Cellphones with GPS service have lowered the number of people who truly get lost in the woods. Ranger Peter Evans said one man called last summer seeking water.
Persons: Mount Marcy, Robbi, Peter Evans Organizations: New Locations: New York City, New York State, Fiji
How Thin Air and Summer Snow Can Heal the Soul
  + stars: | 2024-04-08 | by ( Peter Eavis | ) www.nytimes.com   time to read: +1 min
In 2022, I scaled Mount Marcy, the highest peak in New York State, with my son. Some Google searching revealed that Mount Whitney, the highest peak in the lower 48, was not out of reach for amateurs like us. Hiking had brought exhilarating new challenges and triumphs — and Mount Whitney promised those on a much greater scale. We’d been told to expect a lot of snow higher up, but we didn’t expect any this low. It would take me forever — and we didn’t have forever.
Persons: Marcy, Mount Whitney, Lucy didn’t, We’d Locations: New York State, Lone Pine
On the day the Francis Scott Key Bridge in Baltimore collapsed, President Biden said the federal government would pay the “entire cost” of rebuilding it, which some suggest could run to more than $1 billion. Washington will foot the bill so the bridge and nearby port can reopen “as soon as humanly possible,” he said. Rebuilding the bridge, repairing the cargo ship that hit it and compensating companies for the disruption at one of the nation’s busiest ports may take years to resolve. “We’re not going to wait,” said Mr. Biden, who plans to visit Baltimore on Friday to survey the damage. They cited an 1851 law that allows a shipowner to cap financial damages mostly to the value of a ship after a crash, if the owner is determined not to have been at fault.
Persons: Francis Scott Key, Biden, , “ We’re, Mr Organizations: Baltimore, Grace Ocean Private Ltd, Synergy Marine Locations: Baltimore, Washington, , Singapore, U.S
Just minutes before the cargo ship Dali was set to glide under Baltimore’s Francis Scott Key Bridge, the ship’s alarms began to blare. The lights went out. Even the rudder, which the crew uses to maneuver the vessel, was frozen. As a frantic effort to restore the ship was underway, the pilot soon recognized that the aimless vessel was drifting toward disaster, and called for help. The cascading collapse of the vessel’s most crucial operating systems left the Dali adrift until it ultimately collided with the Key bridge, knocking the span into the river and killing six people.
Persons: Dali, Baltimore’s Francis Scott Key Organizations: Engineers
The Baltimore bridge disaster on Tuesday upended operations at one of the nation’s busiest ports, with disruptions likely to be felt for weeks by companies shipping goods in and out of the country — and possibly by consumers as well. The upheaval will be especially notable for auto makers and coal producers for whom Baltimore has become one of the most vital shipping destinations in the United States. “It’s going to cause a lot of chaos,” said Paul Brashier, vice president for drayage and intermodal at ITS Logistics. Last year, 570,000 vehicles were imported through Baltimore, according to Sina Golara, an assistant professor of supply chain management at Georgia State University. “That’s a huge amount,” he said, equivalent to nearly a quarter of the current inventory of new cars in the United States.
Persons: Francis Scott Key, It’s, , Paul Brashier, Sina Golara, Organizations: Baltimore, Baltimore . Ships, ITS Logistics, Georgia State University Locations: Baltimore, United States, Port of Baltimore, Panama, Suez, Red
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