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Borenstein: Newsom helps fund second BART tube district will never need

Published Wed, 12 Feb 2025 18:17:28 GMT

Transit officials and Gov. Gavin Newsom should stop wasting millions of dollars of taxpayer money planning for a second transbay BART tunnel that the rail system will never need.With BART weekday ridership numbers still far less than half of pre-pandemic levels, the agency cannot afford to keep its existing service running, is begging the Legislature for a temporary bailout and plans to press for a regional ballot measure in 2026 to raise new revenue.To spend public money on planning for a second crossing of San Francisco Bay when BART lacks ridership for the existing system is financial folly. Especially when the funds are coming from the state government, which faces its own whopping budget shortfall, approaching $30 billion.Yet that’s exactly what the governor is doing. And BART is only too happy to be a part of this financial waste and even skew the facts to enable it.The governor and BART last week announced that the state has awarded $11.3 million for planning for the second t...

Opinion: Why California must invest in climate resilient schools

Published Wed, 12 Feb 2025 18:17:28 GMT

As weather events, power outages, fire, smoke and excess heat occur frequently, school leaders face disruptions that affect student learning. As Santa Clara County’s Superintendent of Schools, I know these disruptions are of longer duration and are more extreme.In the 2018-19 school year alone, more than 1.2 million California students were impacted by school closures, overwhelmingly due to wildfire, smoke, heat and unhealthy air quality. These school closures not only lead to decreased learning, they also negatively impact students’ physical and mental health. Studies show these impacts are not the result of an unpredictable catastrophe but a pattern that will continue to worsen unless we can keep schools open through our increasingly complicated climate reality.That’s why a coalition of nearly 50 leading doctors, medical and environmental health researchers, educators, youth and community groups has released the Climate-Resilient California Schools: A Call to Action — a repo...

Two ways the Warriors can slow down Anthony Davis in critical Game 2

Published Wed, 12 Feb 2025 18:17:28 GMT

SAN FRANCISCO — The Warriors run, the Lakers bruise.This Western Conference semifinal matchup is not just a meeting of two California rival teams, but the ultimate clash of styles. Anthony Davis is at the center of that clash, literally.If the Warriors hope to overcome a 1-0 series deficit, they’ll have to figure out how to beat Davis, the Lakers’ 6-foot-10 center, instead of working around him. Golden State was largely deferential to Davis in Game 1, letting him camp in the paint, waiting for the perimeter defenders to funnel Warriors to him there on defense. It deterred drives to the rim with any consistency and prompted the Warriors to take 53 3-pointers.Davis beat the Warriors nearly single-handedly on both ends with 30 points, 23 rebounds and four blocks.Can the Warriors get Davis out of his comfort zone? Here’s a look at a few options.Make him moveDavis played 44 minutes in Tuesday’s game — and the general sense around the Warriors’ lo...

Waymo robotaxis make more inroads in Phoenix, San Francisco

Published Wed, 12 Feb 2025 18:17:28 GMT

Self-driving car pioneer Waymo announced Thursday that its robotaxis will be able to carry passengers through most of the Phoenix area for the first time.The company's cars will also start to pick up more volunteers for testing the autonomous vehicles traversing the more challenging conditions in San Francisco. The expansion marks the next leg in an ambitious journey aimed at creating a safer and cheaper alternative to ride-hailing services that depend on humans. SF supervisor ‘disappointed’ in Nordstrom closure, another major retailer leaving city The increased territory in the Phoenix area means Waymo's robotaxis will now pick up and drop off fare-paying passengers in an area spanning 180 square miles (466 square kilometers), doubling in size since late last year. Waymo's robotaxis now cover four times more territory than when they began giving rides to fare-paying passengers in the Phoenix area in late 2020. “We are feeling tremendous wind at our backs,” Saswat Panigrahi, Waymo...

Pinnacle West: Q1 Earnings Snapshot

Published Wed, 12 Feb 2025 18:17:28 GMT

PHOENIX (AP) — PHOENIX (AP) — Pinnacle West Capital Corp. (PNW) on Thursday reported a loss of $3.3 million in its first quarter.On a per-share basis, the Phoenix-based company said it had a loss of 3 cents.The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.The power company posted revenue of $945 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $792.1 million.Pinnacle West expects full-year earnings to be $3.95 to $4.15 per share._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNW at https://www.zacks.com/ap/PNWSource

Shopify narrowing its ambition, sells Deliverr, cuts staff

Published Wed, 12 Feb 2025 18:17:28 GMT

NEW YORK (AP) — Shopify, the e-commerce company viewed as a growing competitor to Amazon, is selling the two biggest pieces of its fulfillment network and abandoning its logistics ambitions. The company announced Thursday in a blog post it will also cut about 20% of its workforce, the second mass layoff its had in less than a year. Last year, Shopify trimmed 10% of its workforce and reportedly laid off dozens of other employees before and after that announcement. The company said Thursday those affected will receive 16 weeks of severance pay and medical benefits. “There’s no way to make this good news, but we designed a package that will attempt to make it the best possible version of a bad day,” Shopify CEO Tobias Lütke said in the blog post.The business changes are also a remarkable reversal after the Canadian company’s multiyear effort to build its own warehousing and delivery services. But investors welcomed the company’s move to focus more on its retail business on ...

InterDigital: Q1 Earnings Snapshot

Published Wed, 12 Feb 2025 18:17:28 GMT

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — InterDigital Inc. (IDCC) on Thursday reported first-quarter earnings of $105.3 million.On a per-share basis, the Wilmington, Delaware-based company said it had profit of $3.58. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were $4.21 per share.The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.The wireless research and development company posted revenue of $202.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $97.4 million.For the current quarter ending in June, InterDigital expects its per-share earnings to range from $1.19 to $1.29.The company said it expects revenue in the range of $100 million to $104 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $103.6 million._____This story was gener...

MFA Financial: Q1 Earnings Snapshot

Published Wed, 12 Feb 2025 18:17:28 GMT

NEW YORK (AP) — NEW YORK (AP) — MFA Financial Inc. (MFA) on Thursday reported earnings of $72.8 million in its first quarter.The New York-based company said it had profit of 62 cents per share. Earnings, adjusted for non-recurring gains, came to 30 cents per share.The real estate investment trust posted revenue of $132.2 million in the period. Its adjusted revenue was $39.4 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MFA at https://www.zacks.com/ap/MFASource

IRadimed: Q1 Earnings Snapshot

Published Wed, 12 Feb 2025 18:17:28 GMT

WINTER SPRINGS, Fla. (AP) — WINTER SPRINGS, Fla. (AP) — IRadimed Corp. (IRMD) on Thursday reported earnings of $3.4 million in its first quarter.The Winter Springs, Florida-based company said it had net income of 27 cents per share. Earnings, adjusted for stock option expense, came to 30 cents per share.The maker of IV devices that can be used in MRI machines posted revenue of $15.5 million in the period.For the current quarter ending in June, iRadimed expects its per-share earnings to range from 30 cents to 32 cents.The company said it expects revenue in the range of $15.6 million to $15.8 million for the fiscal second quarter.IRadimed expects full-year earnings in the range of $1.26 to $1.35 per share, with revenue ranging from $62 million to $63.5 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRMD at https://www.zacks.com/ap/IRMDSource

US claims for unemployment aid jump, but remain low

Published Wed, 12 Feb 2025 18:17:28 GMT

The number of Americans applying for unemployment benefits jumped last week but remain low overall, even as the Federal Reserve has furiously raised interest rates to beat down inflation and cool the labor market.The Labor Department reported Thursday that applications for jobless claims for the week ending April 29 rose by 13,000 to 242,000 from 229,000 the previous week. The weekly claims numbers are considered a proxy for layoffs.The four-week moving average of claims, which flattens some of the week-to-week volatility, rose by 3,500 to 239,250.Overall, 1.81 million people were collecting unemployment benefits the week that ended April 22, about 38,0000 fewer that the previous week.American workers are enjoying unusual job security despite rising interest rates, economic uncertainty and fears of a looming recession.Source