US military starts removing base names, items related to Confederacy

Just In | The Hill 

The Pentagon on Thursday ordered a Defense Department-wide effort to begin removing the names and items associated with the Confederacy, as per last year’s recommendations from the congressional Naming Commission. 

Undersecretary of Defense for Acquisition and Sustainment William LaPlante directed all DOD organizations to “begin full implementation” of the Naming Commission’s recommendations, three months after Defense Secretary Lloyd Austin gave his go ahead on the effort in October. 

The military branches and all other DOD organizations will now work to rename or remove the more than 1,100 street, school and building names, symbols, displays, monuments and paraphernalia in the United States and overseas that honor or commemorate the Confederate States of America. The items were recommended for change in a final report from the Naming Commission released in September.  

The Pentagon has until Jan. 1, 2024, to finish its task, at the heart of which was an effort to change the names of nine Army bases currently honoring Confederate generals, which the commission earlier this summer offered alternative titles for

Those bases are Fort Bragg, N.C., the largest U.S. military base, Fort Benning, Ga., Fort Lee, Va., Fort Pickett, Va., Fort A.P. Hill, Va., Fort Gordon, Ga., Fort Hood, Texas, Fort Polk, La., and Fort Rucker, Ala. All will be renamed for those with ties to the Army’s nearly 250-year history, with the exception of Fort Bragg, which will be changed to Fort Liberty.

Asked later Thursday whether the U.S. military is confident it can meet the deadline, top Pentagon spokesman Brig Gen. Patrick Ryder told reporters that each of the services “has clear instructions in terms of what it is that they need to focus on,” and Austin “is confident that the services are and will continue to take that seriously.”

LaPlante also noted that the affected DOD organizations have submitted a “comprehensive plan of action and milestones” to implement the commission’s recommendations by deadline.  

After it was mandated by Congress in 2021, the Naming Commission spent 18 months conducting “extensive consultations” with experts, historians, communities and service members to identify and suggest alternative titles for the Confederacy-related items and names. It estimated the DOD would need to spend about $62.5 million to remove or retitle those assets.  

​Defense, Policy Read More 

VOA Interview: Homeland Security Secretary Mayorkas

USA – Voice of America 

U.S. President Joe Biden announced measures Thursday to prevent migrants from entering the United States without authorization from Mexico, while offering a new pathway to legal entry for up to 30,000 people a month under its “humanitarian parole” program now available to refugees from Ukraine and Afghanistan.

Secretary of Homeland Security Alejandro Mayorkas told VOA that online applications for humanitarian parole for Cubans, Nicaraguans, Haitians and Venezuelans will start “immediately, whether it’s today or tomorrow, but immediately we’re going to begin making this program accessible.”

“It’s extraordinarily important that we provide a safe, humane, orderly way for individuals to arrive at the United States,” Mayorkas said in a White House interview.

The following transcript has been edited for brevity and clarity:

VOA: How is the Department of Homeland Security dealing with the arrival of hundreds of Cuban and Haitians by sea to Florida?

Mayorkas: What we have done historically, and we are continuing to do, is to deploy our United States Coast Guard, which interdicts individuals seeking that perilous journey and returns them to Cuba or to a different country, depending on the circumstances. Do not take to the seas. We have seen too much travesty.

VOA: Are you expecting an increase in people coming by sea from Haiti and Cuba after this announcement?

Mayorkas: We’re watching it very closely. That would be a grave mistake for people to do it. They will not succeed. We will exercise our legal authorities. People who take these irregular paths, these dangerous paths, not only risk their lives, but they risked their lives only to fail in their mission.

Because what we are doing is, we are providing lawful pathways, but we’re delivering consequences for people who don’t use those lawful pathways that we’ve made available to them. So, they will be expelled under Title 42 or returned under our Title 8 authorities.

VOA: Once Mexico accepts those 30,000 migrants that they agreed to accept every month, what happens if more people continue to come to the U.S. border? What will happen to them?

Mayorkas: Mexico’s decision is a decision that Mexico made independently, unilaterally. … What I said earlier today stands true: We’re going to respond to what we experience at our southern border. And so, we will accelerate or add additional measures that will respond to the situation, because we are very committed to providing humanitarian relief, but we are very committed to providing that relief in a safe and orderly way and delivering consequences for people who don’t use them.

VOA: Have you reached agreements with other countries to take migrants?

Mayorkas: We have worked throughout the region with other countries. This is a regional challenge. So many countries are experiencing increased migration; the displacement of people is unprecedented. We’re working with those other countries. Take a look at Colombia. Colombia has accepted 2.4 million Venezuelans. Costa Rica is accepting now an unprecedented number of Nicaraguans. A regional challenge requires a regional solution.

VOA: But you can’t send Venezuelans back to Venezuela, for example?

Mayorkas: We do not have a relationship with Venezuela. Venezuela does not accept the return of its citizens.  

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Partner of fallen Capitol Officer Sicknick sues Trump, rioters charged with assault

Just In | The Hill 

The partner of Brian Sicknick, a Capitol Police officer who died after responding to the Jan. 6, 2021 attack on the US Capitol, sued former President Trump and two rioters charged with assaulting Sicknick.

Sandra Garza, Sicknick’s longtime partner, argued in Thursday’s filing that Trump and the two rioters, Julian Khater and George Tanios, are “directly and vicariously liable” for Sicknick’s death. The filing of the suit comes just one day before the two year anniversary of the Jan. 6 riot.

“As a direct result of the attack by Defendants Khater and Tanios and others— which Defendant Trump instigated—Officer Sicknick suffered physical injuries,” the lawsuit said. “The following day, on January 7, 2021, Officer Sicknick tragically died.”

“All that transpired on January 6th—including the actions taken by Defendants Trump, Khater, and Tanios—played a significant role in the medical condition that led to Officer Sicknick’s death the following day,” it continued.

Khater pleaded guilty in September to assaulting three police officers, including Sicknick, with a chemical spray amid the Capitol riot. Tanios, who reportedly passed the chemical spray to Khater, took a plea deal in July over charges related to the Jan. 6 attack.

Sicknick suffered two strokes and died of natural causes. The lawsuit seeks $10 million in damages and alleges wrongful death.

Garza also accused Trump and the two rioters of engaging in a conspiracy to block the official certification of the 2020 election, assault or aiding and abetting assault, and rioting or inciting a riot.

“Defendant Trump intentionally riled up the crowd and directed and encouraged a mob to attack the U.S. Capitol and attack those who opposed them,” the lawsuit argued.

“The violence that followed, and the injuries that violence caused, including the injuries sustained by Officer Sicknick and his eventual death, were reasonable and foreseeable consequences of Defendant Trump’s words and conduct.”

Trump has not been criminally charged in relation to the Jan. 6 riot. The House select committee investigating the attack on the Capitol unveiled criminal referrals in December and recommended that the Department of Justice investigate the former president for inciting an insurrection. The DOJ is also conducting its own investigation.

​Court Battles, Brian Sicknick, Capitol Police, Donald Trump, George Tanios, Jan. 6 Capitol riot, Julian Khater, Sandra Garza Read More 

Delta Air Lines is rolling out free Wi-Fi


New York
CNN
 — 

Delta Air Lines is rolling out free Wi-Fi to most of its planes beginning February 1.

“It’s going to be free, it’s going to be fast and its going to be available for everyone,” Delta CEO Ed Bastian said Thursday at Consumer Electronics Show in Las Vegas. He added that the airline invested more than $1 billion in Wi-Fi technology over the past few years.

Passengers will need to be a member of its free SkyMiles loyalty program to access the on-board internet. Customers who aren’t members will have to pay a flat fee of $10.

More than 500 of Delta’s domestic narrow-body planes serving the airline’s “most popular routes” will be ready for free Wi-Fi at launch, the company said. Wide-body international and smaller regional jets will be coming online by the end of 2024.

Customers will know if their flight has free Wi-Fi by a decal noting it near the boarding door. They also can connect multiple devices at one time.

The announcement, made Thursday at the Consumer Electronics Show, is several years in the making. Bastian said in 2018 that offering free Wi-Fi across its fleet was a priority, but needed time to improve the technology so passengers wouldn’t have to struggle with sluggish speeds.

Delta currently charges nearly $50 per month for Wi-Fi on its flights within North America and $70 on international flights. It has been testing free Wi-Fi over the past several years, and made messaging free in 2017.

In-flight internet on any airline has been long plagued by complaints for its inconsistent speeds. However, efforts by a host of satellite providers and airlines have helped the technology evolve significantly in the past decade — though it still has some catching up to do to compare to home and office networks.

Delta is the first of the “Big Three” airlines to offer free Wi-Fi: United Airlines and American Airlines

(AAL)
both charge varying rates for access. JetBlue

(JBLU)
has offered free Wi-Fi since 2017.

The airline is beting that adding free W-Fi could make passengers more loyal to Delta and further grow its loyalty program, which has about 100 million members. In October 2022, Delta partnered with Starbucks

(SBUX)
and began awarding 1 mile for every $1 spent at the coffee chain.

Bastian predicted that partnership would add 1 million SkyMiles members within a year. However, Delta ended up adding 1 million new members within two weeks of its launch.

source

Traders who bet against stocks made a killing in 2022, as short sellers netted $300 billion

US Top News and Analysis 

In this article

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Traders on the floor of the NYSE, June 24, 2022.
Source: NYSE

Traders who shorted stocks won big in 2022, according to S3 Partners.

Shorted stocks had a return of 30.8% in 2022, said Ihor Dusaniwsky, the firm’s managing director of predictive analytics. That means short sellers outperformed the broader market, which suffered its biggest losses since 2008. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite lost 8.8%, 19.4% and 33.1%, respectively, last year.

U.S. short sellers tallied $300 billion in mark-to-market profits on average short interest of $973 billion, Dusaniwsky wrote.

But even with the huge win in 2022, short sellers still lag in recent history. In the past five years, an average annual return for short sellers was a loss of 4.4% while the Dow gained 6.8%, the S&P 500 rose 9.3% and the Nasdaq climbed 12.5%.

How short holdings performed over the last 5 years

Dow return (%)S&P 500 return (%)Nasdaq return (%)Short return2018-5.6-6.2-4.78.9201922.328.935.2-22.120207.316.343.6-27.1202118.726.921.4-12.62022-8.9-19.4-33.130.85-year average6.89.312.5-4.4
Source: S3 Research

When an investor sells a stock “short” they borrow shares from a broker and sell them in hopes of buying the stock back later at a lower price. It’s a tactic that does best when the broader market is hurting. Short seller returns came in below the major indexes when the market gained value in 2019 through 2021, but beat the averages when they ended the year down in 2018.

It’s worth noting that the total amount shorted last year was below 2021, when the $1 trillion threshold was broken, but higher than in 2018 through 2020.

Short sellers still needed to be good stock pickers in 2022 as different sectors and individual holdings could produce vastly different results, Dusaniwsky said.

For instance, the best sector to short last year was beat down communication services stocks, which produced a return on shorted holdings of 56.7%. Energy was the worst, and posted a 28% loss on shorted holdings, S3 Partners said.

Short- and long-term performance are typically inversed. That’s because investors usually move short on holdings that they expect to lose value, so energy — which was the only winning S&P 500 sector in 2022 — would not be a target for shorting as investors watched share values rise despite the broader market’s decline.

And choosing sector orientation is “only half the battle” given the variety of stocks within each one. Within consumer staples, for example, Beyond Meat had the biggest return on short selling at 128.2%. French fry producer Lamb Weston was the least profitable in its sector, and lost 43.9%.

Carvana, which was beat down as used car demand slid, had the best short performance of all stocks with at least $100 million in short interest, recording a 377.6% gain.

On the flip side, Madrigal Pharma was the worst to short. Bets against the company lost 345.4%. The stock rallied in December on the back of well-received drug trial data.

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Dow closes 300 points lower after strong jobs data signals more rate hikes

Pro Picks: Watch all of Thursday's big stock calls on CNBC

Stocks fell Thursday after jobs data showed the labor market is still strong despite the Federal Reserve’s interest rate hikes to tame inflation.

The Dow Jones Industrial Average fell 339.69 points, or 1.02%, to 32,930.08. It was weighed down by Walgreens, which lost 6.13% after earnings showed a $5.2 billion opioid litigation settlement drove a quarterly loss.

The S&P 500 shed 1.16% to close at 3,808.10 and the Nasdaq Composite slipped 1.47% to 10,305.24. Bed, Bath & Beyond shed 29.88% after saying its short on cash and considering bankruptcy, and crypto-friendly bank Silvergate Capital plummeted 42.73% after it disclosed major customer withdrawals. All three averages are on track to notch five weeks of losses

Stocks rose from lows of the day in the afternoon but remained down when St. Louis Federal Reserve President James Bullard said that 2023 may be a disinflationary year in a speech. He also noted that while current policy isn’t “sufficiently restrictive,” it’s moving in that direction and should reach it this year.

Stocks opened lower after the ADP private payrolls report showed that employers added 235,000 jobs in December, well above economist estimates. Wages also increased more than anticipated, another sign that the labor market remains hot. Later in the morning, weekly jobless claims came in below expectations and showed a drop in continuing claims.

“While we will get a better overall picture of the jobs market tomorrow, private payrolls beating expectations and jobless claims coming in below are indications that the labor market remains resilient,” said Mike Loewengart of Morgan Stanley Global Investment Office.

“These come on the heels of big-name companies announcing sizable job cuts so there is no doubt the market’s pressures are weighing on companies, but it remains to be seen when hiring will slow demonstrably,” he added.

On Friday, investors will review the December jobs report for updated data on employment and hourly wages. Economists estimate that U.S. employers added some 200,000 jobs in December, which would represent a moderate slowdown from gains in the previous month.

A higher number would be further bad news to the Fed that the labor market is still strong. In addition, investors don’t want to see big gains in wage growth, which could signal higher inflation.

Correction: A previous version misspelled Loewengart’s last name.

source

McCarthy, opponents inch toward deal to end Speakership fight

Just In | The Hill 

Rep. Kevin McCarthy and some of his GOP detractors appeared Thursday to be nearing a deal that would bring him closer to the Speakership, even as his most vocal critics vowed that it wouldn’t be enough to grant him the gavel.

The two sides were working furiously behind closed doors to carve out an agreement even as McCarthy lost five more floor votes for the Speakership, with the same band of opponents voting against him. It made 11 straight ballot losses for McCarthy.

“It’s changes that we wanted,” said Rep. Ralph Norman (R-S.C.), one of the 20 Republicans consistently voting against McCarthy, said of the offers coming from the McCarthy camp.

“Now, we got a lot more we got to get to,” he cautioned. “But this round one, it’s on paper, which is a good thing.”

McCarthy allies also voiced optimism, saying they felt progress was being made.

But they hadn’t been able to show progress on the floor despite the growing number of concessions. And it was unclear a deal would get McCarthy over the hump.

When asked Wednesday evening if there is anything that McCarthy can do to win her support, Rep. Lauren Boebert (R-Colo.) said: “No.”

Asked the same question on Thursday, Rep.-elect Eli Crane (R-Ariz.) said, “I don’t think so.” Rep.-elect Andy Ogles (R-Tenn.) said, “Well see.”

Reps. Matt Gaetz (R-Fla.), Andy Biggs (R-Ariz.) and Bob Good (R-Va.) appear similarly entrenched in their opposition.  

“You don’t ever have to ask me again if I’m a no,” Good told reporters on Thursday. “I will never vote for Kevin McCarthy.”

The House voted just after 8 p.m. to adjourn until noon Friday — which did represent some progress for McCarthy. He’d been pushing for an adjournment and it was backed by the Republicans supporting and opposing him.

Many of McCarthy’s most intransigent GOP critics didn’t even appear to be involved in Thursday’s negotiations, and it was far from clear he’d win 16 Republicans. 

Four of McCarthy’s most intransigent GOP critics didn’t even appear to be involved in Thursday’s negotiations. But it was far from clear he’d win over the other 16 Republicans who were talking.

Thursday’s spectacle marked an ignominious milestone: The 10th speaker ballot surpassed the nine ballots required to seat a House leader in 1923, making this year’s process the most protracted since the Civil War. And there’s no clear end in sight.

Thursday’s marathon talks took place in the Capitol office of incoming House Majority Whip Tom Emmer (R-Minn.).

The negotiators included Reps. Patrick McHenry (R-N.C.), Brian Fitzpatrick (R-Pa.) and Emmer, all key defenders of McCarthy, with Reps. Chip Roy (R-Texas), Scott Perry (R-Pa.), Dan Bishop (R-N.C.) and Byron Donalds (R-Fla.).

McHenry was one of those signaling optimism.

“We have the right contours than enable us to get Kevin McCarthy having the majority of the vote, and that’s assurances on the structure of how we’re going to deal with each other, how we’re going to enable sound public policy, and the type of public policy that will be front and center for this Congress,” he said.

“It’s the type of assurances that all majorities need to make at some period of time. I wish we’d have made them before, but we’re making them now,” McHenry said. “We’ve had members that have held out in the hopes of getting more conservative policy to the floor, and I think we can get there. This is the most hopeful set of conversations we’ve had in weeks.”

Among the concessions being offered were lowering the threshold for a motion to oust the House Speaker to just one member and increasing the number of hard-line conservatives on key committees.

Norman said the concessions offered by McCarthy include a guaranteed floor vote to establish term limits for all House lawmakers; an open amendment process, providing rank-and-file lawmakers with more power to alter legislation; adoption of the so-called Holman rule, which grants Congress new powers over federal agencies; and a 72-hour rule — requiring three full days for lawmakers to read bills before they hit the floor.

Yet even as those talks took place, some of McCarthy’s detractors appeared to be moving farther from him.

Gaetz on Wednesday excoriated McCarthy for allegedly soliciting a list of desired committee assignments from the group of detractors and then using it around to portray them as negotiating personal favors.

Perhaps no one in McCarthy’s camp thinks Gaetz is a gettable vote. All the same, it was notable that he, Boebert, Biggs, and Good, were not present during much of the extensive talks in Emmer’s office on Thursday. Their absence seemed to allow negotiators more space to cut a deal. 

“We have the right people in the room talking, and that is a very healthy ingredient,” McHenry said. 

The concessions themselves are a risk for McCarthy, though most Republicans supporting him appear ready to swallow those changes for the sake of ending the speaker stalemate. 

Rep. Mike Rogers (R-Ala.), the incoming chair of the House Armed Services Committee, blasted the proposal to offer committee seats for Speaker votes.

“That is insane that they presented that, that they wanted to get committee assignments and committee chairmanships without going through the steering committee, as if Kevin McCarthy or any Speaker magically gets to tell members,” he said. “‘Oh, by the way, I’m giving your seat to somebody else who was an aggravation to the conference.’ It just shows how insane they are.”

Rep. Don Bacon (R-Neb.) and other members have previously signaled that they would not accept lowering the threshold for the motion to vacate the chair, but appear poised to relent if it secures the Speakership for McCarthy.

“I do object to the vacate rules, but would I vote no on the Speakership because of that? I would say no, I would prefer not to do that,” Bacon said on Thursday.

Some McCarthy’s supporters were so optimistic about his chances.

“I think the number that will never vote for Kevin McCarthy is more than four,” Rep. Warren Davidson (R-Ohio) said on CNN Thursday morning. That would block McCarthy from the gavel.

Rep. Ken Buck (R-Colo.), who previously said that McCarthy should step back and make way for House Majority Leader Steve Scalise (R-La.) if he can’t make a deal, also expressed doubt about McCarthy moving enough members to win.

“There are still some holdouts and I think the 20, sort of have a blood oath that they will – all move together or none of them will move,” Buck said on CNN. 

He later said that members, including himself, would start looking for another candidate if McCarthy can’t make a deal, and that he will “lose credibility” if a deal does not come to fruition.

The detractors threw a new name into the Speaker mix with votes on nominations on Thursday: Rep. Kevin Hern (R-Olka.), the incoming chair of the conservative Republican Study Committee, the largest conservative caucus in the House. 

And while Hern has supported McCarthy on all ballots, he did not dismiss the idea of being a compromise Speaker candidate.

“I’m happy as RSC chair and there’s a lot we are already doing there,” Hern told local Oklahoma outlet The Frontier earlier on Thursday. “If I hear my name, it’s something I’ll have to think and pray about before deciding if it’s a job I’ll run for.”

Al Weaver, Mychael Schell, Aris Folley and Rebecca Beitsch contributed.

​House, News, Chip Roy, House Speakership vote, Kevin McCarthy, Matt Gaetz Read More 

US Warship Sails Through Taiwan Strait

USA – Voice of America 

A U.S. warship sailed through the Taiwan Strait on Thursday, part of what the U.S. military calls routine activity but which riles China.

In recent years, U.S. warships, and on occasion those from allied nations such as Britain and Canada, have sailed through the strait, drawing the ire of China, which claims Taiwan against the objections of its democratically elected government.

In a statement, the U.S. military said the Arleigh Burke-class guided-missile destroyer Chung-Hoon carried out the transit.

“Chung-Hoon’s transit through the Taiwan Strait demonstrates the United States’ commitment to a free and open Indo-Pacific,” the statement added.

Taiwan’s Defense Ministry said the ship sailed in a northerly direction through the strait, that its forces had monitored its passage and observed nothing out of the ordinary.

The Chinese embassy in Washington did not immediately respond to a request for comment.

The narrow Taiwan Strait has been a frequent source of military tension since the defeated Republic of China government fled to Taiwan in 1949 after losing a civil war with the communists, who established the People’s Republic of China.

The United States has no formal diplomatic relations with Taiwan but is bound by law to provide the island with the means to defend itself.

China has never ruled out using force to bring Taiwan under its control. Taiwan vows to defend itself if attacked, saying Beijing’s sovereignty claims are void as the People’s Republic of China has never governed the island.

A Chinese military plane came within 3 meters of a U.S. Air Force aircraft in the contested South China Sea last month and forced it to take evasive maneuvers to avoid a collision in international airspace.

The close encounter followed what the United States has called a recent trend of increasingly dangerous behavior by Chinese military aircraft.

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