Tag Archives: favor

Taylor Swift Returns The Favor, Shows Up For The Premiere Of Beyoncé’s ‘Renaissance’ – Deadline

  1. Taylor Swift Returns The Favor, Shows Up For The Premiere Of Beyoncé’s ‘Renaissance’ Deadline
  2. Taylor Swift Just Arrived at Beyoncé’s ‘Renaissance’ World Tour Concert Film Premiere in London! Yahoo Life
  3. Taylor Swift Wears Silver Dress to Beyoncé’s Renaissance Film Premiere PEOPLE
  4. Taylor Swift Stuns in a Silver High Leg Slit Dress at Beyoncé’s Renaissance Premiere Yahoo Life
  5. Blue Ivy Joins Mom Beyoncé on the Red Carpet in the Coolest Asymmetrical Dress Harper’s BAZAAR
  6. View Full Coverage on Google News

Read original article here

Will ChatGPT Replace Workers? This Company Is Dumping Humans in Favor of AI – Bloomberg

  1. Will ChatGPT Replace Workers? This Company Is Dumping Humans in Favor of AI Bloomberg
  2. Company says it will replace creative workers with ChatGPT-like generative AI TechSpot
  3. Embracing AI-generated content, BlueFocus will replace human copywriters and creatives | Advertising Campaign Asia
  4. AI stealing jobs: Ad agency replaces copywriters, designers with ChatGPT and other AI tools Firstpost
  5. Chinese Media Company Reaches Out To Alibaba For AI Tech To Swap Copywriters, Graphic Designers For GPT Models – Alibaba Group Holding (NYSE:BABA), Amazon.com (NASDAQ:AMZN) Benzinga
  6. View Full Coverage on Google News

Read original article here

Federal judge rules in favor of bikini baristas over dress code ordinance

Bikini-clad baristas in Washington state won a federal court case protecting their constitutional right to wear what they want.

A 2017 Everett, Washington dress code ordinance requiring that “quick service” workers must cover the upper and lower body has been ruled unconstitutional by a federal court. 

The ruling comes after the U.S. District Court in Seattle found that the ordinance violated the equal protection clauses of the U.S. and Washington state constitutions. 

In 2017, the city enacted its dress code ordinance, requiring all employees, owners and operators of “quick service facilities” to wear clothing that covers the upper and lower body.  (Fox 12 / Fox News)

ATTORNEY SUES ITALIAN RESTAURANT CHAIN FOR ‘DECEPTIVE’ $2 INFLATION FEE: ‘EGREGIOUS AND SURREPTITIOUS’

The court found that the ordinance was, at least in part, shaped by a gender-based discriminatory purpose, according to a 19-page ruling signed by U.S. District Judge Ricardo S. Martinez.

“The record shows this Ordinance was passed in part to have an adverse impact on female workers at bikini barista stands,” Martinez wrote. “There is evidence in the record that the bikini barista profession, clearly a target of the Ordinance, is entirely or almost entirely female. It is difficult to imagine how this Ordinance would be equally applied to men and women in practice.”

A federal court struck down a 5-year-old dress code ordinance that prevented bikini baristas in the area from wearing certain clothing. (Fox 13 / Fox News)

POPEYES THANKSGIVING TURKEY AVAILABLE FOR DOORSTEP DELIVERY FOR 1ST TIME

The owner of Everett bikini barista stand, Hillbilly Hotties and some employees filed a legal complaint challenging the constitutionality of the dress code ordinance.

The Hillbilly Hotties also challenged the city’s lewd conduct ordinance, but the court dismissed all the barista’s claims but the dress code question.

The court directed the city of Everett to meet with the plaintiffs within 14 days to discuss next steps.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The Associated Press contributed to this post.

Read original article here

More evidence piles up in favor of the Galaxy S23 Ultra’s 200MP camera

Last updated: September 29th, 2022 at 20:27 UTC+02:00

Device leaks come in all shapes and sizes. Yesterday’s Galaxy S23 design leak was pretty massive, and it might take a while before something even more revealing of the Galaxy S23 series pops up online. Until then, we have a bit more information to share about the Galaxy S23 Ultra’s primary camera.

Our colleagues at GalaxyClub have recently confirmed through their sources that the Galaxy S23 Ultra will feature a 200-megapixel primary camera. If you follow our news feed, you probably know that rumors about the Galaxy S23 Ultra’s alleged 200MP camera are nothing new. However, we now have stronger confirmation that Samsung is indeed planning to use a 200MP sensor for its next-gen premium flagship.

Not all Galaxy S23 Ultra sensors will get a resolution upgrade

Samsung was never in a rush to increase the resolution of mobile cameras, as it is a relatively fruitless endeavor. A high-resolution sensor gives a manufacturer some bragging rights but doesn’t guarantee higher-quality images. Software and AI-driven image processing pay off much more than a higher pixel count nowadays, so there’s always the question of whether or not Samsung’s next flagship phone will increase camera resolutions.

As far as the Galaxy S23 Ultra is concerned, the answer seems to be “yes,” but not across the board. The flagship will have a 200MP primary camera, even though other sensors, such as the 10MP 10x optical telephoto camera, will retain the same resolutions. Of course, we’ll have to wait and see how these specs translate into real-world usage scenarios. As we’ve seen before when comparing the Galaxy Z Flip 4 with the Galaxy S22, Samsung is capable of getting surprisingly good results through software.

Read original article here

Kansas recount confirms results in favor of abortion rights

OLATHE, Kan. (AP) — A decisive statewide vote in favor of abortion rights in traditionally conservative Kansas was confirmed with a partial hand recount, with fewer than 100 votes changing after the last county reported results Sunday.

Nine of the state’s 105 counties recounted their votes at the request of Melissa Leavitt, who has pushed for tighter election laws. A longtime anti-abortion activist, Mark Gietzen, is covering most of the costs. Gietzen acknowledged in an interview that it was unlikely to change the outcome.

A no vote in the referendum signaled a desire to keep existing abortion protections and a yes vote was for allowing the Legislature to tighten restrictions or ban abortion. After the recounts, “no” votes lost 87 votes and “yes” gained 6 votes.

Eight of the counties reported their results by the state’s Saturday deadline, but Sedgwick County delayed releasing its final count until Sunday because spokeswoman Nicole Gibbs said some of the ballots weren’t separated into the correct precincts during the initial recount and had to be resorted Saturday. She said the number of votes cast overall didn’t change.

A larger than expected turnout of voters on Aug. 2 rejected a ballot measure that would have removed protections for abortion rights from the Kansas Constitution and given to the Legislature the right to further restrict or ban abortion. It failed by 18 percentage points, or 165,000 votes statewide.

The vote drew broad attention because it was the first state referendum on abortion since the U.S. Supreme Court overturned Roe v. Wade in June.

Gietzen, of Wichita, and Leavitt, of Colby, in far northwestern Kansas, have both suggested there might have been problems without pointing to many examples.

Recounts increasingly are tools to encourage supporters of a candidate or cause to believe an election was stolen rather than lost. A wave of candidates who have echoed former President Donald Trump’s lie that the 2020 election was rigged have called for recounts after losing their own Republican primaries.

Kansas law requires a recount if those who ask for it prove they can cover the counties’ costs. The counties pay only if the outcome changes.

Leavitt and Gietzen provided credit cards to pay for the nearly $120,000 cost, according to the secretary of state’s office. Leavitt has an online fundraising page. Gietzen also said he is getting donations from a network built over three decades in the anti-abortion movement.

Gietzen said Sunday he doesn’t accept the results of the Sedgwick County recount because of the discrepancy about the way the ballots were sorted and because some of the recount happened Saturday without outside observers present to watch.

“We still don’t know what happened in Sedgwick County. I won’t pay for Sedgwick County,” he said.

He said he’s also concerned about the results statewide because of a report out of Cherokee county in southeast Kansas about the results of one county election being transposed between two candidates when the results were transferred on a thumb drive from one voting machine to a tabulating machine.

Gietzen said he plans to file a lawsuit Monday seeking a full statewide recall.

Gietzen said he won’t publicly report the names of private donors helping him finance the recount, even though a state ethics official says it’s required. Gietzen, who leads a small GOP group, the Kansas Republican Assembly, argues that he’s not campaigning for the anti-abortion measure but is instead promoting election integrity.

Votes were recounted in Douglas County, home to the University of Kansas’ main campus; Johnson County, in suburban Kansas City; Sedgwick County, home to Wichita, Shawnee County, home to Topeka; and Crawford, Harvey, Jefferson, Lyon and Thomas counties. Abortion opponents lost all of those counties except Thomas.

In Jefferson County, the margin remained the same, with the pro- and anti-amendment totals declining by four votes each. Linda Buttron, the county clerk, blamed the change on things like ovals not being darkened and “the challenges of hand counting ballots.”

In Lyon County, the anti-amendment group lost a vote. County Clerk and Election Officer Tammy Vopat said she wasn’t sure the reason. But she noted: “You have to factor in human error.”

Johnson County, the most populous in Kansas, faced the biggest recounting challenge because it had the most ballots. It pulled in workers from different departments to help. The sorting process took so long that the actual counting didn’t begin until Thursday afternoon.

“This is almost like doing an Ironman triathlon and having to add on another marathon at the end,” said Fred Sherman, the county’s Election Commissioner. “So it is quite a gargantuan process.”

___

Hanna reported from Topeka, Kansas. Josh Funk contributed to this report from Omaha, Nebraska.

Read original article here

These Physicists Favor of a New Theory of Gravity

By

Dark matter was proposed to explain why stars at a galaxy’s far edge were able to move much faster than predicted with Newton. An alternative theory of gravity might be a better explanation.

Using Newton’s laws of physics, we can model the motions of planets in the Solar System quite accurately. However, in the early 1970s, scientists discovered that this didn’t work for disc galaxies – stars at their outer edges, far from the gravitational force of all the matter at their center – were moving much faster than predicted by Newton’s theory.

As a result, physicists proposed that an invisible substance called “dark matter” was providing extra gravitational pull, causing the stars to speed up – a theory that’s become widely accepted. However, in a recent review my colleagues and I suggest that observations across a vast range of scales are much better explained in an alternative theory of gravity called Milgromian dynamics or Mond – requiring no invisible matter. It was first proposed by Israeli physicist Mordehai Milgrom in 1982.

Mond’s primary postulate is that when gravity becomes very weak, as it does near the edge of galaxies, it starts behaving differently from Newtonian physics. In this way, it is possible to explain why stars, planets, and gas in the outskirts of over 150 galaxies rotate faster than expected based on just their visible mass. However, Mond doesn’t merely explain such rotation curves, in many cases, it predicts them.

Philosophers of science have argued that this power of prediction makes Mond superior to the standard cosmological model, which proposes there is more dark matter in the universe than visible matter. This is because, according to this model, galaxies have a highly uncertain amount of dark matter that depends on details of how the galaxy formed – which we don’t always know. This makes it impossible to predict how quickly galaxies should rotate. But such predictions are routinely made with Mond, and so far these have been confirmed.

Imagine that we know the distribution of visible mass in a galaxy but do not yet know its rotation speed. In the standard cosmological model, it would only be possible to say with some confidence that the rotation speed will come out between 100km/s and 300km/s on the outskirts. Mond makes a more definite prediction that the rotation speed must be in the range 180-190km/s.

If observations later reveal a rotation speed of 188km/s, then this is consistent with both theories – but clearly, Mond is preferred. This is a modern version of Occam’s razor – that the simplest solution is preferable to more complex ones, in this case that we should explain observations with as few “free parameters” as possible. Free parameters are constants – certain numbers that we must plug into equations to make them work. But they are not given by the theory itself – there’s no reason they should have any particular value – so we have to measure them observationally. An example is the gravitation constant, G, in Newton’s gravity theory or the amount of dark matter in galaxies within the standard cosmological model.

We introduced a concept known as “theoretical flexibility” to capture the underlying idea of Occam’s razor that a theory with more free parameters is consistent with a wider range of data – making it more complex. In our review, we used this concept when testing the standard cosmological model and Mond against various astronomical observations, such as the rotation of galaxies and the motions within galaxy clusters.

Each time, we gave a theoretical flexibility score between –2 and +2. A score of –2 indicates that a model makes a clear, precise prediction without peeking at the data. Conversely, +2 implies “anything goes” – theorists would have been able to fit almost any plausible observational result (because there are so many free parameters). We also rated how well each model matches the observations, with +2 indicating excellent agreement and –2 reserved for observations that clearly show the theory is wrong. We then subtract the theoretical flexibility score from that for the agreement with observations, since matching the data well is good – but being able to fit anything is bad.

A good theory would make clear predictions that are later confirmed, ideally getting a combined score of +4 in many different tests (+2 -(-2) = +4). A bad theory would get a score between 0 and -4 (-2 -(+2)= -4). Precise predictions would fail in this case – these are unlikely to work with the wrong physics.

We found an average score for the standard cosmological model of –0.25 across 32 tests, while Mond achieved an average of +1.69 across 29 tests. The scores for each theory in many different tests are shown in figures 1 and 2 below for the standard cosmological model and Mond, respectively.

Figure 1. Comparison of the standard cosmological model with observations based on how well the data matches the theory (improving bottom to top) and how much flexibility it had in the fit (rising left to right). The hollow circle is not counted in our assessment, as that data was used to set free parameters. Reproduced from table 3 of our review. Credit: Arxiv

Figure 2. Similar to Figure 1, but for Mond with hypothetical particles that only interact via gravity called sterile neutrinos. Notice the lack of clear falsifications. Reproduced from Table 4 of our review. Credit: Arxiv

It is immediately apparent that no major problems were identified for Mond, which at least plausibly agrees with all the data (notice that the bottom two rows denoting falsifications are blank in figure 2).

The problems with dark matter

One of the most striking failures of the standard cosmological model relates to “galaxy bars” – rod-shaped bright regions made of stars – that spiral galaxies often have in their central regions (see lead image). The bars rotate over time. If galaxies were embedded in massive halos of dark matter, their bars would slow down. However, most, if not all, observed galaxy bars are fast. This falsifies the standard cosmological model with very high confidence.

Another problem is that the original models that suggested galaxies have dark matter halos made a big mistake – they assumed that the dark matter particles provided gravity to the matter around it, but were not affected by the gravitational pull of the normal matter. This simplified the calculations, but it doesn’t reflect reality. When this was taken into account in subsequent simulations it was clear that dark matter halos around galaxies do not reliably explain their properties.

There are many other failures of the standard cosmological model that we investigated in our review, with Mond often able to naturally explain the observations. The reason the standard cosmological model is nevertheless so popular could be down to computational mistakes or limited knowledge about its failures, some of which were discovered quite recently. It could also be due to people’s reluctance to tweak a gravity theory that has been so successful in many other areas of physics.

The huge lead of Mond over the standard cosmological model in our study led us to conclude that Mond is strongly favored by the available observations. While we do not claim that Mond is perfect, we still think it gets the big picture correct – galaxies really do lack dark matter.

Written by Indranil Banik, Postdoctoral Research Fellow of Astrophysics, University of St Andrews.

This article was first published in The Conversation.

Reference: ” From Galactic Bars to the Hubble Tension: Weighing Up the Astrophysical Evidence for Milgromian Gravity
by Indranil Banik and Hongsheng Zhao, 27 June 2022, Symmetry.
DOI: 10.3390/sym14071331



Read original article here

FDA advisers vote in favor of authorizing Covid-19 vaccines for children as young as 6 months

All 21 members of the FDA’s Vaccines and Related Biological Products Advisory Committee voted “yes” in response to the question: “Based on the totality of scientific evidence available, do the benefits of the Moderna COVID-19 Vaccine when administered as a 2-dose series (25 micrograms each dose) outweigh its risks for use in infants and children 6 months through 5 years of age?”

And all the committee members voted yes in response to the question: “Based on the totality of scientific evidence available, do the benefits of the Pfizer-BioNTech COVID-19 Vaccine when administered as a 3-dose series (3 micrograms each dose) outweigh its risks for use in infants and children 6 months through 4 years of age?”

The FDA, which typically follows the committee’s decisions, will now decide whether to authorize the vaccines for emergency use in the youngest children.

However, shots can’t be given until the US Centers for Disease Control and Prevention’s own vaccine advisers have voted on whether to recommend them and CDC Director Dr. Rochelle Walensky has signed off on the recommendation.

The CDC’s vaccine advisers are expected to vote Saturday. The White House has said shots could begin as early as next week.

Children younger than 5 are the only age group not currently eligible to be vaccinated against Covid-19. About 17 million kids will become eligible for Covid-19 vaccines once they’re authorized for this age group.

“To be able to vote for authorization of two vaccines that will protect children down to 6 months of age against this deadly disease is a very important thing,” said committee member Dr. Archana Chatterjee, dean of the Chicago Medical School at Rosalind Franklin University.

She compared the day to December 2020, when the first Covid-19 vaccines were authorized for adults and older teens.

‘Benefits seem to clearly outweigh the risks’

“The benefits seem to clearly outweigh the risks, particularly for those with young children who may be in kindergarten or in collective child care,” committee member Oveta Fuller, an associate professor of microbiology and immunology at the University of Michigan Medical School, said of the Moderna vaccine.

Committee member Dr. Art Reingold added that even though the risk of Covid-19 hospitalization and death is lower for young children than for adults, children already get vaccinations to protect them against diseases for which their risk is low.

“If we have a vaccine with benefits that outweigh the risks, then making it available to people is a reasonable choice,” said Reingold, of the University of California, Berkeley.

“I would point out that we as a country continue to give a large number of vaccines to children where the risk of the child dying or being hospitalized of those diseases are pretty close to zero,” he said, such as polio and measles.

The number of Covid-19 hospitalizations and deaths in children is concerning and much higher when compared with influenza-related deaths and hospitalizations, FDA official Dr. Peter Marks said at Wednesday’s meeting.

“There still was, during the Omicron wave, a relatively high rate of hospitalization during this period,” said Marks, director of the FDA’s Center for Biologics Evaluation and Research. “That rate of hospitalization actually is quite troubling, and if we compare this to what we see in a terrible influenza season, it is worse.”

Marks said the number of deaths for children 4 and under during the first two years of the pandemic “also compares quite terribly to what we’ve seen with influenza in the past.”

“We are dealing with an issue where I think we have to be careful that we don’t become numb to the number of pediatric deaths because of the overwhelming number of older deaths here. Every life is important,” he said, adding that “vaccine-preventable deaths are ones we would like to try to do something about.”

Marks said the Covid-19 vaccines are an intervention similar to the influenza vaccine, which has been broadly and routinely used and accepted to prevent deaths.

Moderna vaccine ‘well-tolerated’ in youngest children

The Moderna vaccine is already authorized for adults. In a meeting Tuesday, the FDA’s advisers voted unanimously in favor of expanding the emergency use authorization to include older children and teens, ages 6 to 17, saying it would also offer more benefits than risks.

Moderna’s Covid-19 vaccine, when given as a 25-microgram dose, is “well-tolerated” in children ages 6 months to 5, said Dr. Rituparna Das, Moderna’s vice president of Covid-19 vaccines clinical development, during Wednesday’s meeting as she described the safety profile of the vaccine among this age group and adverse reactions.

“Pain was the most common event,” Das said. “Young children’s events included fever, headache, fatigue, myalgia, arthralgia, nausea, vomiting and chills. For infants and toddlers, events included fever, irritability, crying, sleepiness and loss of appetite.”

These reactions were more common after the second dose of vaccine and resolved within two or three days, Das said, adding that fever was an important assessment of the vaccine’s safety for this age group.

Fever after any dose of vaccine happened in about a quarter of the children, but more often after the second dose, and one incident of febrile seizure was considered to be related to vaccination, Das told the committee members. The child who had the seizure remained in the vaccine study and got a second dose of vaccine with no serious events.

No deaths or cases of myocarditis or pericarditis were reported among vaccine recipients, Das said.

“In summary, mRNA-1273 was well tolerated,” she said, using the technical name of Moderna’s vaccine. “Local and systemic reactions were seen less frequently in these youngest groups.”

Concern over number of doses

VRBPAC member Dr. Paul Offit said in Wednesday’s meeting that children who get the Pfizer/BioNTech vaccine will have to complete a three-dose series to get sufficient protection.

” ‘Do the benefits outweigh the risks’ is something I can support, but I do have some concerns about this vaccine,” said Offit, director of the Vaccine Education Center at Children’s Hospital of Pennsylvania.

Committee member Dr. Jeannette Lee of the University of Arkansas for Medical Sciences also mentioned concern that some children might not complete all three doses and that uptake of the vaccine will be slow.

“Three doses will certainly benefit. I have a lot of concern that many of these kids will not get a third dose,” she said. “My concern is that you have to get the three doses to really get what you need.”

Data from a phase 2/3 trial of the Pfizer vaccine included 1,678 children who had received a third dose during the period when the Omicron coronavirus variant dominated. The vaccine appeared to be safe and had a strong immune response. The data has not been peer-reviewed or published in a medical journal.

Antibody levels tested one month after the third dose showed that the vaccine produced a similar immune response as two doses in 16- to 25-year-olds, the companies said.

In FDA briefing documents, it was noted that among young children who had received the vaccine in trials, there were no cases of anaphylaxis, myocarditis or pericarditis, and the most common adverse reactions among children 6 months to 23 months were irritability, drowsiness, decreased appetite and tenderness at the injection site. For children 2 to 4 years old, the most common adverse reactions were fatigue and pain and redness at the injection site.

Will these children get vaccinated?

There is already slow uptake of Covid-19 vaccines among children in the United States.

“Having vaccine options for the youngest children is very important; however, we have seen a relatively low uptake of Covid vaccines in children in the 5- to 12-year-old group, and so my concern is that uptake in the youngest children under 5 years old might also be lower than we would like,” Dr. Dan Barouch, director of the Center for Virology and Vaccine Research at Beth Israel Deaconess Medical Center in Boston, told CNN on Wednesday.

Barouch, who is not a member of the FDA advisory committee, helped develop and study the Johnson & Johnson Covid-19 vaccine.

He said there were “striking” differences in how many adults are fully vaccinated compared with children and teens.

Children 5 to 11 were the most recent group to become eligible for vaccination, in November. But just 29% of these children are fully vaccinated with their two-dose primary series in the United States, according to the CDC, compared with about:
  • 60% of adolescents 12 to 17
  • 64% of adults 18 to 24
  • 67% of adults 25 to 39
  • 75% of adults 40 to 49
  • 82% of adults 50 to 64
  • 94% of adults 65 to 74
  • 88% of adults 75 and older

CNN’s Carma Hassan and Deidre McPhillips contributed to this report.

Read original article here

Elon Musk called ESG a scam — did the Tesla chief do investors a favor?

Investing usually uses a combination of head, heart and gut even if it’s not supposed to. And perhaps no market theme stirs “all the feels” quite like ESG.

This week, a major move to cut Tesla from a closely followed environmental, social and governance (ESG) index brought anger and relief in nearly equal measure.

Defiance was on display from Standard & Poor’s, which rejected Tesla from its ESG index; annoyance emerged from Tesla
TSLA,
-6.42%
investors, including well-known asset manager and Tesla bull Cathie Wood. There was also a seething snapback from Elon Musk.

Sustainable Investing: Today’s widely adopted ESG ratings and net-zero pledges are mostly worthless, two pioneers of sustainable investing say

Mostly, a fresh wave of confusion emerged about what constitutes “ESG” if what many see as the anti-gasoline renegade no longer gets its due.

The S&P 500 ESG Index dropped Musk’s Tesla from the lineup as part of its annual rebalancing. But, in large part because it’s also supposed to track the broader S&P 500
SPX,
+0.01%,
although while adding an ESG layer, the index kept oil giant ExxonMobil
XOM,
+0.79%
in its top ESG mix. Also included: JPMorgan Chase & Co.
JPM,
-0.82%,
which has been dinged by environmental groups as chief lender to the oil patch.

“ESG is a scam. It has been weaponized by phony social justice warriors,” tweeted Musk, lamenting that ExxonMobil topped Tesla.

“Ridiculous,” was Wood’s terse response to Tesla’s removal.

“While Tesla may be playing its part in taking fuel-powered cars off the road, it has fallen behind its peers when examined through a wider ESG lens,” argued Margaret Dorn, senior director and head of ESG indices, North America, at S&P Dow Jones Indices, in a blog post.

Read: EVs can store power for our homes and the grid: Why ‘vehicle-to-everything’ technology is a must-follow investing theme

Specifically, it was the ”S” and ”G” that soured Tesla’s ”E”, S&P’s report shows. Tesla was marked down for claims of racial discrimination and poor working conditions at its Fremont, Calif., factory. The carmaker was also called out for its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles.

ESG-minded investment house Just Capital has a similar critique to that of S&P. Tesla has historically scored in the bottom 10% of Just Capital’s annual sustainability rankings primarily due to how it pays and treats its workers, the investment company said. Broadly speaking, Tesla performs well on environmental issues, customer treatment and creating U.S jobs, but not so well on certain “S” and “G” criteria, including “paying a fair and living wage” nor “protecting worker health and safety” nor with diversity, equity and inclusion (DEI)-related discrimination controversies.

Paul Watchman, an industry consultant who wrote a seminal report in the mid-2000s that helped ESG investing take off, said Tesla should be part of ESG indexes. “Not all breaches of ESG are equal, and this assessment shows just how warped the S&P assessment is,” he told Bloomberg.

It’s just this difference of opinion that may confuse investors most.

“The majority of investment managers that are applying ESG are simply paying money to data providers to tell them what is good ESG,” said Tony Tursich of the Calamos Global Sustainable Equities Fund, in a MarketWatch interview.

ESG ratings aren’t like scores given by credit rating agencies, where there’s agreement on criteria for creditworthiness. With ESG, there are so far no standard definitions.

Dimensional Fund Advisors says it is challenged by ESG ratings as well. The correlation between the ESG scores of different providers has been estimated at 0.54, they said. In comparison, the correlation in the credit ratings assigned by Moody’s and S&P is 0.99.

MSCI Inc., the leading provider of ESG ratings, still includes Tesla AND Exxon in its more widely tracked ESG-focused indexes, yet another layer of confusion about what ESG actually means. The methodologies MSCI and S&P use for their ESG indexes are very similar.

For S&P’s part, the Exxon inclusion keeps up its energy-sector representation in line with broad goals.

But that leaves many investors asking why conflate ESG with any other priority? And still others lamenting all the exceptions that can come with an ESG pledge and a stock’s placement in an ESG index, ETF or mutual fund.

Staunch environmental groups also typically take issue with inclusion of traditional oil firms under an ESG label. “We see funds with ESG in their names getting F’s on our screening tools because they hold dozens of fossil fuel-extraction companies and coal-fired utilities,” said As You Sow CEO Andrew Behar. 

But other energy-industry watchers say their inclusion may have a different meaning. The transition to cleaner options at the well-established traditional energy firms will be most effective given their size, multinational reach and their investment in practices such as carbon capture. Considering them as ESG-lite keeps the pressure on to evolve, they argue.

No matter which piece of ESG matters more to an investor, trust matters most of all.

In fact, some ESG watchers say Tesla isn’t as clean on the environmental side as its hyper-focus may indicate, which essentially means you can’t take any company’s ESG promise on merit alone. Tesla was recently tagged by As You Sow in a report that ranked 55 companies on their “green” progress after pledges have been made. Tesla earned poor marks for not publicly sharing emissions data.

”Part of [Tesla’s] problem is a lack of disclosure. For someone who is committed to freedom of speech, Musk could do a better job of transparency at Tesla,” said Martin Whittaker, the founding CEO of Just Capital.

Read: What does ‘free speech’ actually mean? Twitter isn’t censoring speech, despite what Elon Musk and many users think

Beyond environmental, and especially, greenhouse gas emissions, data, the increase in broader company sustainability information can present challenges, say Will Collins-Dean, senior portfolio manager and Eric Geffroy, senior investment strategist at Dimensional Fund Advisors, in a commentary.

For example, corporate sustainability reports may run a hundred pages long, differ substantially from one company to the next, and may not contain all the information that interests investors.

The Securities and Exchange Commission is drawing closer to unified climate-change risk reporting rules, and has taken a look at broader ESG pledges. The Department of Labor is also mulling the inclusion of ESG in 401(k)s, including how transparent that addition will have to be. For now, company action is voluntary.

If individual companies are missing the mark with ESG. The funds that scoop up those names may be just as confusing.

A report by InfluenceMap, a London-based nonprofit, evaluated 593 equity funds with over $256 billion in total net assets and found that “421 of them have a negative Portfolio Paris Alignment score” a screener used by Influence Map. That means the bulk of listings aren’t on track to the hit the maximum 2-degree Celsius (and ideally, 1.5 degree) global warmup set in the voluntary Paris climate accord. The companies may be promising a greener future, but far fewer are delivering.

The key to sounder ESG investing many be narrowing expectations.

“Rather than using generic ESG ratings, investors should first identify which specific ESG considerations are most important to them, and then choose an investment strategy accordingly,” said Collins-Dean and Geffroy. 

“An example may be reducing exposure to companies with high emissions intensity,” they said. ”The broader the set of objectives, the more difficult it can be to manage the interactions among them. A ‘kitchen sink’ approach that integrates dozens of variables may make it hard for investors to understand a portfolio’s allocations and may lead to unintended outcomes.”

Read original article here

Amick: What’s Quin Snyder’s next move? Still in favor in Utah, the Jazz coach will evaluate all his options

This isn’t about Quin Snyder being on the hot seat.

Eight years into his tenure as head coach of the Utah Jazz, and with one guaranteed season left on his contract in addition to a coach’s option for the 2023-24 campaign, the 55-year-old remains highly regarded by everyone from second-year owner Ryan Smith to first-year basketball CEO Danny Ainge to general manager Justin Zanik. The Jazz’s series-ending loss to Dallas in Game 6 of their first-round matchup on Thursday doesn’t change that, and sources say ownership and management do not see Snyder as part of the problem.

Why, then, have we been talking about his possible departure from Utah for so many months now? Because it’s Snyder who must now decide how he feels about this Jazz experience and the prospect of continuing on this challenging path.

Sources say Snyder has been unsure of what his coaching future might hold all season, and his plan has been to see how things ended and then reassess his own view of it all from there. In terms of what might come next, it appears nearly every scenario is on the table.

He could be back with the Jazz, pursue a coaching job elsewhere or perhaps take a season off to re-energize and spend the kind of time with his family that is so hard to come by these days. In terms of a possible extension, sources say there were no discussions of a new deal during the season.

As is almost always the case with decisions like these, there are a number of nuanced factors in play.

There’s the obvious basketball component, with the Jazz’s inability to fulfill their own title-contending expectations taking its cumulative toll on all involved. For all the sustained success Utah has enjoyed, with six consecutive playoff appearances and more regular-season wins than all but Milwaukee and Toronto in that span, it failed to reach a conference finals and fell in the first round in three of the past four seasons.

That sort of playoff pain comes at a cost for all involved, especially the coach who is widely known for his relentless and exhausting approach to his craft. Add in the locker-room dynamics that have been front and center for so long now, the discussion about Donovan Mitchell and Rudy Gobert and whether they’ll ever truly mesh, and Snyder has found himself managing one of the league’s more sensitive situations for quite some time.

Looking ahead, it’s safe to assume Snyder would like to know what the Jazz landscape might look like — on the court and off— at the start of next season as well. What’s the plan here? Is Gobert still anchoring their defense, or will he be traded this summer? Is Mitchell still on board as the franchise centerpiece, or might he force his way out via trade despite having three more guaranteed seasons on his deal?

Who is truly in charge when it comes to the roster, and where does Snyder’s voice fit in when it comes to the type of team the Jazz want to keep building? After all, one could certainly argue Snyder has more sweat equity in this program than anyone.

It has been less than five months since Smith hired Ainge to work with general manager Justin Zanik and 10 months since longtime Jazz executive Dennis Lindsey resigned. Sources say Ainge and Snyder have worked together well so far, but it’s clear there’s still a getting-to-know-you component here that continues to evolve.

In his 18 years as the head of the Celtics’ front office, Ainge always took the kind of hands-on approach to team-building that required a healthy partnership with the coach. Zanik, meanwhile, is widely known to have a very good relationship with Snyder. Ditto for Snyder and Smith.

Snyder’s view of the position itself will likely come into play as well. It would be one thing if Snyder saw himself as the Jazz’s modern-day version of Jerry Sloan, the legendary late coach who spent 23 seasons in this seat. But those who know Snyder best, and who saw him hold five jobs in five cities and two countries (the United States and Russia) from 2007 to 2014 after his seven-year head-coaching stay at Missouri, say that has never been the vision he’s had for this job.

To hear Snyder reflect on this season Thursday night was to wonder what might come next for one of the league’s most respected coaches.

“I’m incredibly proud of this team and the way we competed tonight,” Snyder said during his news conference. “The result speaks for itself, but it’s been a pleasure coaching this group.”

Was the choice to go past tense some kind of sign that he was saying goodbye, or merely an acknowledgment that “this group” might be broken up in these next few months? Snyder himself may not know for sure just yet.


Related reading

Jones: 10 offseason questions for the Utah Jazz

Related listening

(Photo: Rob Gray / USA Today)



Read original article here

N.Y. House Districts Illegally Favor Democrats, Appeals Court Rules

A New York appeals court ruled on Thursday that new congressional districts drawn by Democrats violated the state’s ban on partisan gerrymandering, partially upholding a lower-court ruling that would block the state from using the lines in this year’s critical midterm elections.

A divided five-judge panel in Rochester said Democratic legislative leaders had drawn the new House map “to discourage competition and favor Democrats,” knowingly ignoring the will of voters who recently approved a constitutional amendment outlawing the practice.

“We are satisfied that petitioners established beyond a reasonable doubt that the Legislature acted with partisan intent,” a three-judge majority wrote in its opinion. Two judges dissented.

Gov. Kathy Hochul and top legislative leaders are expected to immediately appeal the decision to the state’s highest court, the New York Court of Appeals. The judges there, all of whom were appointed by Democratic governors, have indicated they could render a final verdict as soon as next week.

The outcome in New York will have significant implications in the broader fight for control of the House of Representatives. National Democratic leaders are counting on the maps their party drew in New York to help offset gains by Republicans.

Without them, Democrats are at risk of emerging from this year’s redistricting cycle having been bested by Republicans for the second consecutive decade. Republican gains were on track to grow further after Florida lawmakers this week approved a map drawn by Gov. Ron DeSantis that would create four new Republican-friendly seats.

The ruling was the second consecutive setback for New York’s Democratic mapmakers, and this time it came in an appellate court that was viewed as generally friendly to the party.

“Like other state courts around the country, New York courts aren’t finding the question of whether a map is a partisan gerrymander a particularly hard one to decide,” said Michael Li, senior counsel for the Democracy Program at the Brennan Center for Justice. “It’s very hard to defend a map like New York’s, and ultimately if it quacks like a duck, it probably is a duck.”

Still, Mr. Li added, Thursday’s decision was only the second of three acts in New York’s redistricting legal drama.

On Thursday, the judges from the Appellate Division of the New York State Supreme Court ordered the Democrat-led Legislature to promptly redraft the map by April 30 or leave the task to a court-appointed neutral expert. The judges were largely silent on another key question at stake: whether some of the primaries scheduled for June should be postponed until August to accommodate new districts.

The congressional lines in question, adopted by Democratic supermajorities in the Legislature in February, would give Democrats a clear advantage in 22 of the state’s 26 congressional districts by shifting voters favorable to their party into redrawn seats on Long Island and Staten Island and in Central New York, and packing Republicans in a smaller number of districts. Republicans currently hold eight districts on a map that was drawn by a court-appointed special master in 2012.

State leaders did emerge with some good news from the latest ruling. The panel rejected more sweeping parts of the decision by the lower-court judge, Patrick F. McAllister of Steuben County, that held that lawmakers lacked the authority to draw any maps at all after New York’s newly created redistricting commission failed to agree on a plan for the state.

As a result, the appeals court ruling reinstated State Senate and Assembly maps that Justice McAllister had thrown out.

Mike Murphy, a spokesman for Senate Democrats, said they were “pleased” that the appeals court had validated the Legislature’s right to draw the maps this year, and predicted the higher court would reinstate the congressional maps as well.

“We always knew this case would end at the Court of Appeals and look forward to being heard on our appeal to uphold the congressional map as well,” he said.

John Faso, a spokesman for the Republican-backed voters challenging the maps, said that they would file their own appeal to try to strike the state legislative maps. But he called Thursday’s decision a “great victory.”

The broader legal dispute turns on two interlocking questions: whether the mapmaking process properly adhered to procedures laid out in a 2014 amendment to the State Constitution, and whether the maps themselves violated an accompanying ban on drawing districts for partisan gain.

The procedural changes made in 2014 were designed to remove the line-drawing process from the hands of politicians by creating an outside commission to solicit public input and forge a bipartisan proposal for House, State Senate and Assembly districts. If the commission had reached agreement, the Legislature’s role would have been to ratify the maps.

But the commission was widely viewed as flawed from the start. Democratic and Republican leaders appointed an equal number of members, and when the time came to recommend maps to lawmakers in January, the panel deadlocked on party lines, sending separate proposals to Albany.

After the Legislature rejected both, the commission opted not to exercise its statutory right to take another shot at new maps. At that point, Democrats who control the Senate and Assembly quickly drafted, introduced and passed their own maps.

In oral arguments on Wednesday, a lawyer for the Republican challengers argued that the Legislature did not have the right to proceed until the commission had submitted a second set of maps for consideration, and that the maps they did adopt for Congress and the State Senate were illegally gerrymandered under new constitutional rules.

The language at issue in the State Constitution dictates that districts “shall not be drawn to discourage competition” or for the purpose of favoring or hurting a particular candidate or political party.

“In 2014, the people of New York made clear that they wanted the constant gerrymandering by the Legislature every decade to stop,” said Misha Tseytlin, the Republican lawyer. “Yet in the very first election cycle governed by the 2014 amendment, two of the branches of New York government, the executive branch and the legislative branch, engaged in an egregious, nationally embarrassing gerrymander.”

Lawyers for Democratic state leaders vehemently rejected the charge, arguing that they were within their rights to draw the maps and did so fairly.

Alice Goldman Reiter, a lawyer for Senate Democrats, took particular issue with Republicans’ computerized simulations that were used to argue that the maps were aggressively skewed toward Democrats. She said the simulations had failed to account for other constitutional requirements that influenced mapmakers, like the need to preserve communities of interest in diverse enclaves like Brooklyn.

“No court has ever found beyond a reasonable doubt partisan intent based exclusively on computer simulations, and absolutely these simulations should not be the first,” she said.

On Thursday, the majority of judges found the simulations trustworthy. They also cited the partisan mapmaking process — Democratic lawmakers did not consult their Republican counterparts when drawing the congressional lines — and a common-sense reading of the new lines to argue their conclusion.

The order was signed by justices Stephen K. Lindley, a Democratic appointee; and John V. Centra and John M. Curran, both of whom were appointed by Republicans.

Two other judges, both appointed by Democrats, disagreed. In a written dissent, the judges, Gerald J. Whalen and Joanne M. Winslow, said that they found the computer models to be flawed and that the majority was wrong to second-guess the intentions of legislators simply because they undertook a partisan process.

Read original article here