Day: June 20, 2020

German Mogul Could Topple Lufthansa’s $10 Billion Bailout

(Bloomberg) —

Deutsche Lufthansa AG and the German government wrangled for weeks before agreeing on a 9 billion-euro ($10 billion) bailout for the cash-strapped airline. Now one man could bring the deal crashing down.

Heinz Hermann Thiele, a 79-year-old billionaire, has amassed a stake in the carrier of about 15.5%, making him the largest shareholder. While his intentions are unclear, he has expressed dissatisfaction with the rescue plan, saying equity investors deserve better.

The moves put Thiele at the center of Germany’s biggest corporate bailout of the coronavirus era just days before a shareholder vote that the airline has said could fail. Insolvency would be the most likely outcome should investors block the rescue, Lufthansa warned Wednesday. Unions, many investors and proxy advisory firms recommend shareholders back the deal.

“A government-orchestrated bailout is better than insolvency,” said Patrick Schuchter of Union Investment, holder of a 0.12% stake. He plans to

Read More

The Coronavirus Pandemic Doesn’t Care That We’re All Bored With It

From President Donald Trump and Vice President Mike Pence’s ludicrous assertions that the novel coronavirus pandemic is no big deal anymore to crowded bars in Arizona and block parties in New York City, it sure seems like Americans are ready to move on from the public health emergency that has dominated our lives since March.

Yes, the daily count of new infections and deaths has fallen since its peak in April in May. New York City no longer is in full crisis as the epicenter of the outbreak in the U.S. Stay-at-home orders have caused pain and inconvenience to virtually everyone.

But the coronavirus has infected more than 2 million Americans and killed nearly 120,000. The daily tally of new cases is now rising, not falling, both here and abroad. There have been about as many new COVID-19 cases in the U.S. over the past two weeks

Read More

Long Distance Bike Trips for the Coronavirus Era

Illustration by Kelly Caminero/The Daily Beast/Getty
Illustration by Kelly Caminero/The Daily Beast/Getty

Descending the tight, winding roads of the San Juan Mountains from Wolf Creek Pass at the Continental Divide, I passed a long-distance cyclist with his panier-laden bike, climbing upward at a snail’s pace. The highest point he could reach was nearly 11,000 feet. I was in awe that he was trying it—imagining the risk of not being seen by vehicles rounding tight corners, or facing heat exhaustion. 

I was also happily in an SUV with air-conditioning and snacks. 

More people are seeing longer bike rides as a way to get away from it all—a type of social distancing. If the focus is less on setting the ultra long-distance record of your lifetime and more on crafting your own meaningful and tailor-made cycling experience—which also takes into consideration where you are at, and what your skillset is—cycling longer distances can be a safer form of

Read More

10 free online courses and giveaways, because why not?

10 free online courses and giveaways, because why not?
10 free online courses and giveaways, because why not?

From drinks to advice, the best things in life are free. With that in mind, we thought we’d share a bunch of ways to get free stuff this weekend.

Want to boost your productivity? There’s a free course for that. Want to begin a new career journey? We’ve got you covered. Or maybe you’re looking to score a new device. You can enter for a chance to win one for exactly zero dollars. You’re welcome in advance. Go nuts.

The Learn to Code for Free Course

Few skills are as beneficial in 2020 as the ability to code. Not only are coders in high demand, but the many paths one can take in the industry all come with impressive salaries, meaning this free introductory course has an insane return on investment. From coding to basic digital theory, this seven-day course will

Read More

SC Gov. McMaster takes side on Strom, but not on colleges’ push to change building names

As a powerful movement builds across South Carolina to remove the names of monuments to racists and segregationists from university buildings and public squares, the state’s top elected official has so far been publicly silent on whether a 20-year-old law preventing those erasures without support of a super majority of legislators is just or should be repealed.

But Friday, S.C. Gov. Henry McMaster’s spokesman gave the first indication of where the governor and former state attorney general stands on the Heritage Act, which says only a two-thirds vote by the General Assembly can remove or change war monuments and the dedication of roads, parks and other public spaces to historical figures.

“Boards of universities have every right to ask for these changes — that’s why the law exists as it does, and the governor is supportive of them doing so and the General Assembly debating them, with public input, as

Read More

This German Mogul Could Crash Lufthansa’s $10 Billion Bailout

(Bloomberg) —

Deutsche Lufthansa AG and the German government wrangled for weeks before agreeing on a 9 billion-euro ($10 billion) bailout for the cash-strapped airline. Now one man could bring the deal crashing down.

Heinz Hermann Thiele, a 79-year-old billionaire, has amassed a stake in the carrier of about 15.5%, making him the largest shareholder. While his intentions are unclear, he has expressed dissatisfaction with the rescue plan, saying equity investors deserve better.

The moves put Thiele at the center of Germany’s biggest corporate bailout of the coronavirus era just days before a shareholder vote that the airline has said could fail. Insolvency would be the most likely outcome should investors block the rescue, Lufthansa warned Wednesday. Unions, many investors and proxy advisory firms recommend shareholders back the deal.

“A government-orchestrated bailout is better than insolvency,” said Patrick Schuchter of Union Investment, holder of a 0.12% stake. He plans to

Read More

California’s largest state worker union accepts two furlough days in pay cut deal with Newsom

State workers represented by California’s largest public employees union will take two furlough days per month for two years under an agreement with Gov. Gavin Newsom’s administration, according to details posted online Friday night.

The two furlough days for SEIU Local 1000 equate to a 9.23 percent pay reduction, but will be partially offset by suspended payments to retirement health care, according to the agreement. Workers may choose the days they take off.

The union, which represents about 100,000 state workers in custodial, administrative, nursing and a range of other roles, will also delay for two years a general salary increase of 2.5 percent that had been scheduled for July 1.

Some workers in hard-to-recruit job classifications will still receive special salary increases ranging from about a half-percent to about 10 percent, according to the agreement.

Local 1000 is the second state union to reach an agreement with the governor’s

Read More

Climate change ‘as urgent’ as coronavirus

Greta Thunberg says the world needs to learn the lessons of coronavirus and treat climate change with similar urgency.

That means the world acting “with necessary force”, the Swedish climate activist says in an exclusive interview with BBC News.

She doesn’t think any “green recovery plan” will solve the crisis alone.

And she says the world is now passing a “social tipping point” on climate and issues such as Black Lives Matter.

“People are starting to realise that we cannot keep looking away from these things”, says Ms Thunberg, “we cannot keep sweeping these injustices under the carpet”.

She says lockdown has given her time to relax and reflect away from the public gaze.

Ms Thunberg has shared with the BBC the text of a deeply personal programme she has made for Swedish Radio.

In the radio programme, which goes online this morning, Greta looks back on the year in

Read More

50 Years After MLK, Pastors Lead A New Poor People’s Campaign

More than 50 years after the Rev. Martin Luther King Jr. called for a Poor People’s March on Washington to demand economic justice, two pastors are attempting to revive King’s efforts for a new era ― using the technology available today to highlight the injustices currently plaguing the most vulnerable Americans. 

Rev. William Barber II and Rev. Liz Theoharis are leading “The Mass Poor People’s Assembly and Moral March on Washington” on Saturday. The assembly seeks to challenge what the pastors call the “interlocking evils” of systemic racism, wealth inequality, ecological devastation, militarism and religious nationalism ― all of which they believe have the heaviest toll on poor people.

The event was initially supposed to gather people in person in the nation’s capital, but it was moved online in recent months, in light of the COVID-19 pandemic. It will feature testimonies from people typically relegated to the margins of society

Read More

‘This dude has got to go now’

Chuck D and Flavor Flav, members of one of the most important musical protest acts of all time, Public Enemy, have just reunited for a fiery new anti-Trump rallying cry, the DJ Premier-produced “State of the Union (STFU).” In a statement accompanying the P.E. comeback track — which contains unsubtle lyrics labeling President Trump a “White House killer” and “Nazi gestapo dictator” and calls for concerned citizens to “end this clown show” — Chuck D says, “Our collective voices keep getting louder. The rest of the planet is on our side. But it’s not enough to talk about change. You have to show up and demand change.”

The ferocious P.E. single — a surprise release for Friday the Juneteenth — is now available as a free download via the group’s website, where the lyrics can be read in full as well. On the song’s release day, Yahoo Entertainment caught up

Read More