WSJ 2509
WSJ 2509
WSJ 2509
* * * * * * MONDAY, SEPTEMBER 25, 2023 ~ VOL. CCLXXXII NO. 72 WSJ.com HHHH $5.00
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The work ID, long used for vard Business School profes- debunking published studies
makers and officials are call-
gaining entry to the office, sor and researcher spent built on faulty or fraudulent
ing on Sen. Menendez to re-
now has a new job: tracking years exploring the reasons data. They use tips, number
sign, after he was indicted in
how long people stay. people lie and cheat. A trio crunching and gut instincts
a bribery scheme. A4
Bosses are stepping up office of behavioral scientists ex- to uncover deception. Over
Hawaiian Electric regularly surveillance this fall, vowing to amining a handful of her ac- the past decade, they have
fell behind on plans to replace use regular reports from badge ademic papers concluded her come to their own finding:
utility poles at risk of failure and systems to determine how own findings were drawn Numbers don’t lie but peo-
spent millions less on upgrades many people are adhering to PAYLOAD: A NASA return capsule carrying the largest sample from falsified data. ple do.
than planned in the years be- the return-to-work policy. Face- ever collected from an asteroid landed Sunday in Utah. A3 It was a routine takedown “Once you see the pattern
fore a wildfire destroyed La- book parent Meta Platforms for the three scientists—Joe Please turn to page A12
haina this summer. A5 told employees in August that
managers will review badge
Cuts to international aid
from some of Africa’s biggest
data monthly to assess whether
those assigned to an office are
D.C. Is in Panda-monium Betting Against FTC
donors, and a litany of crises,
mean humanitarian organiza-
meeting a requirement to spend
As China Takes Back Beloved Bears
tions are scaling back lifesav-
ing medical services, food aid
and other vital assistance. A8
at least three days a week in-
person; repeated violations
could result in disciplinary ac-
i i i Profits Hedge Funds
tion, including termination. The U.S. capital grapples with the coming
The Labor Department said Google notified workers BY CAITLIN MCCABE nomenon complicated the play-
it is investigating plants oper- that badge-swipe data could departure of the giant Beltway insiders AND BEN DUMMETT book for a group of hedge
ated by Perdue and Tyson fol- be a way it enforces its in-of- funds whose main strategy re-
lowing a report that some of the fice policies. Other companies, BY ANDREW DUEHREN Richard Nixon’s breakthrough The efforts by Federal Trade lies on wagering that mergers
poultry companies’ contractors from Amazon to JPMorgan with Beijing in 1972. Commission Chair Lina Khan to and acquisitions will succeed
employed migrant children. A5 Chase, also keep tabs on at- WASHINGTON—There are The breakdown in U.S.- protect Main Street are inad- or fail.
tendance through badges or constants to life in the na- China relations is bamboozling vertently enriching some on Yet for a handful of firms
JOURNAL REPORT other methods. tion’s capital: sweltering sum- many in the city. Norma Val- Wall Street, generating outsize willing to stomach the volatility,
“We know who’s assigned mers, political dysfunction entini, a 52-year-old regis- profits for Pentwater Capital the FTC’s antitrust efforts have
Healthcare: A new way to an office and should be and, for much of the last 50 tered nurse who grew up in Management and other large yielded an unexpected windfall.
to protect against heart working in an office,” said Bob years, giant D.C. visiting the hedge funds that bet on merger Their strategy? Betting big
attacks. R1-8 Pragada, CEO of the engineer- pandas. pandas, is find- deals. against Khan.
ing and consulting firm Ja- Later this ing the farewell For the past two years, Khan Florida-based Pentwater
CONTENTS Opinion................ A17-19 cobs, which employs more year, though, difficult to bear. has pursued an aggressive stands to be a large winner
Arts in Review......A15 Outlook.......................... A2
Business & Finance B2,6 Personal Journal... A13-14
than 60,000 people and has the three pan- “They’ve been strategy as head of President from the FTC’s recent failed bid
Business News....... B3 Sports.......................... A16 used badge-swipe data to das living in the here all my life,” Biden’s antitrust agency, at- to block the Amgen-Horizon
Crossword................ A16 Technology........................ B4 monitor its office-occupancy National Zoo she said. She tempting to block proposed deal. It built a stake of almost
Heard on the Street B10 U.S. News.............. A2-5 levels. The company tracks of- will be sent to comes to the zoo deals including Microsoft’s ac- 7% in Horizon after the drug-
Market Digest..........B8 World News........... A6-9
fice attendance in the aggre- China, which at least once a quisition of videogame maker maker began fielding takeover
gate, and not on an individual has the rights to Eat shoots and leaves week these days Activision Blizzard and Am- interest last year.
> basis, a spokeswoman said. pandas in cap- to bid them gen’s pursuit of drugmaker Ho- Pentwater is estimated to
For decades, badge systems tivity all over the world. Their goodbye. “It’s very, very sad.” rizon Therapeutics. have scored around $100 million
served mostly as a security departure will leave Washing- Valentini was among the In both cases, the FTC’s in- on its Horizon trade on paper,
measure. After the Sept. 11 at- ton without at least one of the first to arrive at the panda en- tervention spooked investors according to an analysis of the
s 2023 Dow Jones & Company, Inc.
tacks, the technology prolifer- rotund, cuddly-looking bears closures on Saturday, the start and sent shares of the target hedge fund’s public filings. It
All Rights Reserved Please turn to page A2 for only the second time since Please turn to page A12 companies swinging. This phe- Please turn to page A8
.
U.S. NEWS
THE OUTLOOK | By David Harrison
plies, with backers in the Biden vocacy. far more supportive of wind
administration and oil and gas America’s nuclear-power and solar energy, though opin-
industries alike. sector has for decades faced ion is shifting, according to the
Grace Stanke, the reigning public-relations challenges, bur- Pew Research Center. Around
Miss America, is on a charm of- dened by high costs, long con- 57% of Americans favor more
fensive for the industry as part struction timelines, plant clo- nuclear power plants, up from
of a yearlong publicity tour. sures and concern over 43% in 2020, according to a Pew
“Why isn’t this being disasters such as Fukushima survey released in August.
shouted from the rooftops?” and radioactive waste. Its Hol- Investors in the dozens of
asked Stanke, a 21-year-old nu- lywood image includes giant startups pursuing smaller reac-
clear engineering student at the mutants, the HBO series “Cher- tor designs include Bill Gates,
University of Wisconsin-Madi- nobyl” and the atomic-weapons co-founder of Microsoft; Dustin
son. She is too Wisconsin-nice race in the summer blockbuster Moskovitz, co-founder of Face-
to shout, but in more than 20 Grace Stanke, a nuclear-engineering student at the University of Wisconsin-Madison, is the “Oppenheimer.” book; and OpenAI chief Altman,
states so far she has touted reigning Miss America. Right, at the Peach Bottom Atomic Power Station in Delta, Pa. “It’s always playing the vil- who thinks more nuclear power
clean energy and nuclear medi- lain,” Stanke said. “It’s what will be needed in part for artifi-
cine at schools, nursing homes, powers 20% of America.” interested in nuclear science in your dad tells you not to do created Godzilla.” cial intelligence. Tesla CEO
a state legislature and once on The youngest of three chil- high school when her dad, a something, you go and do it.” Godzilla appears in film- Musk has been calling on the
a water-skiing podcast. dren, Stanke grew up in Wau- civil engineer, told her not to go Stanke spoke at the World maker Stone’s new documen- utility industry to build more
“It’s the industry that saved sau, Wis. She started partici- into the field because there was Nuclear Association’s sympo- tary, “Nuclear Now,” though the generation and called himself
my dad twice from cancer,” pating in pageants at age 13 as no future in it. “I got into it out sium in London this month and film argues that nuclear power an advocate for fission at The
Stanke said, referring to radia- a way to improve her perfor- of spite,” Stanke said. “When aims to remain an industry is an obvious way to reduce the Wall Street Journal’s CEO
tion and other treatments. “It mance skills for violin and got you’re a 16-year-old girl and voice even after she crowns the impact of climate change. It is a Council in May.
Insurance
60%
didn’t show up, there was “a
lot of agitation,” one Google
engineer said. A linked Q&A in
U.S. NEWS
NASA Asteroid
Mission Brings
Back a Sample
Robotic spacecraft The sample could help to
better understand the earliest
gathered rocks, dust days of our solar system, 4.5
that might yield new billion years ago, and perhaps
how asteroids helped seed our
clues to solar system world with the ingredients for
life as we know it, according to
BY AYLIN WOODWARD scientists involved with the
mission.
Mission controllers and sci- “We think objects like
entists broke into whoops and Bennu may have made Earth
applause Sunday as they habitable,” said Dante Lauretta,
watched an orange creamsicle- principal investigator for
colored parachute deploy above Osiris-REx and a professor of
NASA/ASSOCIATED PRESS
a capsule carrying the largest planetary science and cos-
sample ever collected from an mochemistry at the University
asteroid. of Arizona. “They might have
Osiris-REx, the robotic delivered the ocean water, the
spacecraft that helped deliver molecules that are in our atmo-
the sample to Earth, is part of sphere, and maybe even the or- The capsule containing a sample from the Bennu asteroid was brought to a clean room Sunday after it plunged to Earth.
a mission of the same name ganic materials that triggered
launched seven years ago by the origin of life on our “It is a big deal—this is the manded the Osiris-REx craft to curates other extraterrestrial It took the Osiris-REx team
the National Aeronautics and planet.” first time they’ve gotten a sub- release its capsule 63,000 miles samples, such as lunar rocks two years to map the asteroid
Space Administration to a The exact amount of aster- stantial amount of material,” above the Earth, or about one- and meteorites. NASA said it and choose a suitable, safe area
space rock named Bennu. After oid material contained in the said Thomas Burbine, a plane- third the distance from our intends to unveil the sample to collect the sample from on
a nearly 4-billion-mile journey capsule is still unknown, but tary scientist and director of planet to the moon. The cap- next month. the space rock’s surface, which
through space, the 20-foot-long Lauretta estimates it to be the Williston Observatory at sule moved through space to- The Osiris-REx mission was unexpectedly littered with
Osiris-REx buzzed by Earth about 250 grams—half a pound Mount Holyoke College who ward Earth for about four hasn’t been without challenges. large, hazardous boulders.
this weekend. It jettisoned a or so. isn’t currently affiliated with hours while the craft that re- Discovered in 1999, Bennu was “This mission has been proba-
capsule containing rocks and The Osiris-REx mission isn’t the mission. “This will change leased it began a new six-year chosen as the mission’s target bly NASA’s most challenging,
dust collected from Bennu’s the first to deliver an asteroid the way we think about aster- journey toward an asteroid because it was carbon-rich and technically,” said Rich Burns,
surface, which safely landed in sample to Earth. Two Japanese oids.” named Apophis. could contain biochemical Osiris-REx project manager at
the desert of western Utah. missions already did so from The larger the sample, the The capsule landed at 10:52 building blocks needed for life. NASA’s Goddard Space Flight
“This mission proves that two other asteroids, in 2010 more interesting chemistry sci- a.m. ET in the Department of Born from an ancient collision Center in Greenbelt, Md.,
NASA does big things. Things and 2020. But the size of the entists can explore by extract- Defense’s Utah Test and Train- in the asteroid belt between which manages the mission.
that inspire us, things that expected sample from NASA’s ing molecules out of the rocky ing Range west of Salt Lake Mars and Jupiter, Bennu also “Just to the dynamic of going
unite us, things that show re- mission dwarfs its predeces- material, according to Lauretta. City. The capsule will be trans- has an orbit that brings it close to a small world that we didn’t
ally nothing is beyond our sors—the largest sample Japan Sunday’s delivery began at ported to a laboratory at to Earth, making it more acces- have good knowledge of, it was
reach,” said agency administra- brought back, in 2020, was 5 6:42 a.m. Eastern time, when NASA’s Johnson Space Center sible than some other aster- really a mission of true explo-
tor Bill Nelson. grams. mission controllers com- in Houston, where the agency oids. ration.”
into this small border city over Daniel Moncada, 19, and his “Migration is incredibly dy- arrests made by Border Patrol
the past week have one thing in brother Ricardo, 18, stood out- namic, there are ebbs and flows agents in August were of fami-
common: They got sick of wait- side an Eagle Pass migrant to it,” Mayorkas said. “The level lies, many of whom are released
ing for an appointment on the shelter Friday, looking for of displacement in the Western in the U.S. rather than being
smartphone app the govern- friends who crossed the Rio Hemisphere is at a historic level processed for deportation, in
ment wants them to use. Grande with them. The soonest and is actually outpacing dis- part because of legal limits on
Some said the app offered CBP One offered an appoint- placement in other hemispheres how long they can be jailed. In
appointments to ask for asylum ment, they said, was in three of the world for the first time. addition, many are from Vene-
several months in the future— months. After a six-month trip We have confidence in our zuela and other countries
longer than they were willing to to the border from Venezuela, model, we have exhibited that it whose governments won’t ac-
wait after a long journey from they decided the wait was too works. It is under stress now.” cept deportation flights. Some
countries such as Venezuela. long and illegally crossed into Mayorkas met in Texas’ Rio others are released when bor-
Others said it was unresponsive A migrant boy was handed to a member of the National Eagle Pass. Grande Valley with Honduran der agents are faced with more
and unusable. Guard from a U.S. Border Patrol agent Sunday in Eagle Pass. Daniel Moncada said he President Xiomara Castro to people than they can detain and
“We all tried, but we knew he could face deportation, discuss migration to the U.S. process.
couldn’t get an appointment,” intended to help avoid such a the border and ways for resi- but he decided to take the from her country. Once released in the U.S., mi-
said Kemp Granges, a 25-year- scenario. dents of some countries to ap- chance. The Biden administration grants typically wait years for
old Venezuelan national who il- CBP One offers 40,000 ap- ply from abroad to enter legally “The risk was 50/50 to me,” has said that anyone who their asylum claims to be adju-
legally entered the U.S. at Eagle pointments a month for people and work in the U.S., the app is he said. doesn’t come through the CBP dicated.
Pass recently, surrendered to to enter the U.S. legally and re- part of a set of programs insti- Moncada won his bet and One app and didn’t ask for pro- Eagle Pass isn’t the only city
border authorities and was quest asylum, rather than en- tuted in May when Title 42, a was released with instructions tection before reaching the U.S. struggling with the migrant
later released to a local shelter. tering illegally and risking de- pandemic-era policy allowing to report back to immigration likely won’t be eligible for asy- surge. Authorities in El Paso,
The migrant surge over- portation, which can depend on for the rapid expulsion of asy- authorities at a later date to lum and could face swift expul- Texas, are opening a city-run
whelming Eagle Pass and other a variety of legal and logistical lum seekers, expired. start what is likely to be a sion. U.S. Immigration and Cus- shelter with capacity for about
communities is showing the factors. Tens of thousands of mi- yearslong process to ask for toms Enforcement has been 400 people. That space will be
limits of recently enacted Biden Combined with faster pro- grants have taken advantage of asylum. announcing nearly daily depor- almost immediately full, city of-
administration border policies cessing of people arrested at CBP One and other legal op- Homeland Secretary Ale- tation flights. ficials said Saturday.
Oklahoma City police jim- state’s attorney general, Gent- 2013, the 10th U.S. Circuit recollections of Sneed’s former a guy that was killed and they
mied the door of Room 102 of ner Drummond, said in April. Court of Appeals rejected Glos- cellmates. In a Nevada state didn’t want to slander his
the Best Budget Inn, across That same month, however, sip’s federal appeal. That three- prison, Knight located Paul name,” he said.
from a strip joint called the Ve- Oklahoma’s highest criminal judge panel included now-Su- Melton, who in 1997 spent A police department spokes-
gas Club, and found the bat- court unanimously rejected preme Court Justice Neil months with Sneed in the Okla- man declined to comment on
tered, bloodied body of Barry Glossip’s appeal, keeping him Gorsuch, who has recused him- homa County Jail. the case.
Van Treese, the motel owner. on track to die. “Finality of self from this appeal. “He told me that he had a Knight hasn’t been able to
It was Jan. 7, 1997. A week judgments is a foundational Sneed’s testimony was the girlfriend at the time. He also prove Fancy exists.
later, police arrested the mo- principle of our system of jus- prosecution’s linchpin, as no told me that Van Treese was Drummond, the attorney
tel’s 19-year-old handyman, tice,” one of the judges wrote. physical evidence or other wit- the ‘Sugar Daddy’ of Sneed’s general, turned over to Knight
Justin Sneed. He admitted to Drummond took the ex- nesses linked Glossip to the girlfriend,” Melton said in an a box of records that prosecu-
fatally beating Van Treese with traordinary step of joining crime. Police theorized that affidavit. “Their robbery tors had argued was protected
an aluminum baseball bat. In a Glossip in asking the Supreme Glossip had been stealing from scheme fell apart because Van from disclosure. It contained
plea bargain that spared him Court to throw out the convic- the till and wanted to take over Treese didn’t go along with it.” documents, Drummond’s Su-
the death penalty, Sneed tion. That petition caught the the business. Richard Glossip in early 2021 Sneed, who is serving a life preme Court brief says, demon-
agreed to testify that the motel attention of the court, which Oklahoma likely would have term in prison, didn’t respond strating that prosecutors with-
manager, Richard Glossip, stayed Glossip’s May 18 sched- executed Glossip years ago had bery gone wrong, either by to an interview request. held critical information: that
hired him to kill Van Treese. uled execution so justices could he not been the lead plaintiff in Sneed alone or with an accom- The guest in an adjacent Sneed had been diagnosed with
Glossip, insisting he was inno- consider whether to hear his an earlier Supreme Court case plice. room, John Prittie, testified bipolar affective disorder.
cent, turned down a plea deal, appeal. that challenged the state’s le- Van Treese, known to carry that he was awakened after “Glossip’s fate turned on
was convicted and sent to Among the questions pre- thal-injection protocol as un- large amounts of cash from the midnight by noises like glass Sneed’s credibility, which hung
death row. sented: “Whether due process constitutional. He lost 5-4, and motels he owned, had been re- breaking. There was “muffled by a thread given his own cul-
A quarter-century later, of law requires reversal, where the 2015 precedent now makes turning home the evening of arguing,” he testified, from pability and capital exposure,”
Glossip’s fate will be deter- a capital conviction is so in- it nearly impossible to contest Jan. 6, 1997, after a visit to “male and female voices.” Drummond’s brief argues. Had
mined by the Supreme Court, fected with errors that the execution methods for exces- Tulsa, Okla. In one scenario, More evidence emerged defense attorneys known
the second time the highest State no longer seeks to defend sive cruelty. Knight theorized that Van when Stephenie Garcia, who Sneed’s diagnosis, they would
court has considered issues re- it.” But that appeal bought Glos- Treese may have been lured to said she had worked at the Ve- have had a powerful argument
lated to his conviction. The jus- The Oklahoma District At- sip time, during which he con- Room 102 by a dancer he knew gas Club in the 1990s, said she to the jury that the state’s star
tices are expected to discuss torneys Association and three tacted Sister Helen Prejean, the from the Vegas Club. Knight was friends with a dancer nick- witness couldn’t be trusted, the
whether to take the case in a of Van Treese’s relatives filed a death-penalty abolitionist. She suspects the dancer also was named Fancy who dated both attorney general said.
private meeting on Tuesday. brief opposing Glossip’s peti- connected him with a sympa- involved with Sneed and, like Sneed and Van Treese. In an Nonsense, says the opposing
Keeping the case—and Glos- tion. “Glossip and his abolition- thetic lawyer in Colorado, Don- him, needed money to fuel a affidavit, Garcia said Sneed brief, noting that in April the
sip—alive is evidence un- ist supporters are attempting ald Knight. methamphetamine habit. used the women from the Ve- Oklahoma Court of Criminal
earthed by a pro bono lawyer to create the specter of an in- Going through 26 boxes of The plan was for Sneed to gas Club as part of a ploy to Appeals rejected the identical
convinced of Glossip’s inno- nocent person being executed, case records, Knight said he rob Van Treese in the room, ac- bilk customers. “He wanted the argument.
cence. The evidence suggested so that they can further their found dozens of leads that cording to Knight’s version of girls to alert him when they If the high court case goes
Glossip was framed, prompting campaign against the death weren’t followed. Aided by a events, figuring that the mar- were with a married man,” her Drummond’s way, Oklahoma
a volte-face by much of Okla- penalty,” they argue. paralegal and volunteer law- ried businessman would hesi- affidavit states. County prosecutors will have
homa’s Republican leadership. Glossip, 60, was first con- yers, he logged flaws in the 10- tate to file a police report. In a 2021 interview with The to decide whether to retry
They argue for Glossip’s con- victed and sentenced to death day police investigation and But Knight suspected that Wall Street Journal, Glossip Glossip or set him free. If the
viction to be overturned. in 1998, but a state appeals tracked down new witnesses to Van Treese, 54, resisted, pro- said Van Treese’s dalliances court rejects Glossip’s petition
“Public confidence in the court threw out the verdict for support an alternate motive for voking a hopped-up Sneed to with Vegas Club dancers were or later rules against him, he
death penalty requires that ineffective assistance of coun- Sneed to kill Van Treese: rob- beat him furiously. well known. But “police didn’t likely will be out of appeals.
.
U.S. NEWS
teeing up a discharge petition, check for the war. She will still
ANNA MONEYMAKER/GETTY IMAGES
Menendez For Trump, ‘Stop the Steal’ Campaign Never Gets Old
Is Pressured
By Democrats BY SCOTT PATTERSON
ocratic senator with accepting cheating must stop.” for the charges.
cash, gold bars and other ben- Trump and his campaign After Biden won, a scheme
efits in exchange for using his say a series of criminal indict- to enlist false slates of electors
office to enrich three busi- ments against him are part of a took shape. Stone and others
nessmen and aid the Egyptian scheme by Democrats to close to the president pro-
government. Menendez thwart him in next year’s vote. moted the idea that legisla-
stepped aside as chairman of After a federal grand jury in- tures in certain states won by
the Foreign Relations Commit- dicted Trump in August for Trump supporters demonstrated outside the Pennsylvania state Capitol on Nov. 6, 2020. Biden could send alternative
tee, but has rejected demands trying to subvert the will of the slates of electors to Con-
that he quit the Senate. American voters in 2020, the Stop the Steal activist move- an absolute First Amendment we can lose, in my opinion…is gress. The plan was taken up
“I am not going anywhere,” Trump campaign said the pros- ment that year amid allega- right to question the anomalies if cheating goes on,” he said in by several attorneys advising
Menendez said. He called the ecution by Justice Department tions that GOP leaders were and irregularities in any local, August 2016. Trump, including John East-
charges false and said he was special counsel Jack Smith was conspiring to wrest the nomi- state or federal election,” Stone While Trump’s 2016 victory man and Kenneth Chesebro.
the victim of “an active smear an attempt by President Biden nation away from Trump. told The Wall Street Journal. put a temporary end to such Eastman and Chesebro were
campaign of anonymous “to interfere with the 2024 Four years later, the Stop There is no corroborated evi- concerns, the president re- both named as co-defendants
sources and innuendos.” presidential election.” Similar the Steal movement and efforts dence of widespread voter turned to his warnings about a by the grand jury in Georgia
New Jersey Gov. Phil Mur- complaints followed indict- by other pro-Trump protest fraud in the 2020 election. fraudulent election in 2020. In that charged Trump and 18 al-
phy, a Democrat, called for ments by prosecutors from groups to reverse the election Trump’s election denial was May of that year, he wrote on lies with operating a criminal
Menendez’s resignation late New York and Georgia. results culminated in thou- on display in February 2016, af- Twitter, “Don’t allow RIGGED enterprise. Both pleaded not
Friday, and he was joined by a Accusations of vote-rigging sands of Trump supporters ter he lost the Iowa caucuses to ELECTIONS!” Later that month guilty.
series of other officials as the and election interference have breaching the Capitol as Con- Texas Sen. Ted Cruz. Cruz he tweeted: “The Democrats Trump and his allies en-
weekend progressed. Demo- been central features of the po- gress met on Jan. 6, 2021, to “didn’t win Iowa, he stole it,” are trying to Rig the 2020 Elec- gaged in at least 200 attempts
cratic lawmakers representing litical playbook Trump and his certify Biden’s victory. Trump said on Twitter. There tion, plain and simple!” in public or private to target
New Jersey including Reps. allies have used for the eight The August indictment by a is no evidence of voting irregu- At least 46 of Trump’s Twit- state legislators and state or lo-
Mikie Sherrill, Bill Pascrell Jr. years he has been in national federal grand jury in Washing- larities in those caucuses. ter posts contained the phrase cal administrators to overturn
and Josh Gottheimer, an influ- politics. His “stop the steal” ton charges Trump with four Trump warned of violence if “rigged election” or “stolen election results, according to
ential centrist, also called for leitmotif has served both to crimes connected to his effort he didn’t win the GOP mantle. election,” and nearly all were the House select committee’s
him to leave. discount past defeats and pre- to cling to power after losing in In a March 2016 interview on reposted more than 10,000 final report.
Gottheimer said Menendez empt any prospect of one 2020. In Georgia, a grand jury CNN, the candidate said if he times, according to a Journal Around noon on Jan. 6,
has been a “critical voice and ahead. charged Trump, his lawyer wasn’t the clear winner by the review of his messages since he 2021, Trump took the stage
a tough fighter for Jersey” on Democrats weren’t the origi- Rudy Giuliani and 17 other time of the convention in July, took office. near the White House. “We
issues including guns and nal focus of Trump’s voter- Trump allies with operating a “I think you’d have riots.” In November 2020, after must stop the steal,” he
abortion, but given the seri- fraud allegations, in 2016; then criminal enterprise to overturn After securing the GOP nom- Trump’s loss, right-wing politi- said. He then encouraged his
ousness of the allegations he they were aimed at fellow Re- Biden’s victory in the state. All ination, Trump shifted voter- cal operative Ali Alexander es- supporters to march to the
should “step aside as he fo- publicans. Trump’s longtime have pleaded not guilty. fraud allegations to the coming tablished a Stop the Steal LLC Capitol. —Jack Gillum
cuses on his defense.” ally Roger Stone launched the “Every American citizen has general election. “The only way entity in Alabama with a bank contributed to this article.
.
U.S. NEWS
U.S.WATCH
VIRGINIA
Meat Plants Probed
Over Child Labor
The Labor Department
said it is investigating plants
operated by poultry giants
Perdue Farms and Tyson
Foods following a report that
some of the companies’ con-
tractors employed migrant
children to clean meat-pro-
cessing plants.
The New York Times mag-
azine last week published an
article that said migrant chil-
dren were working overnight
shifts at some of the compa-
nies’ plants.
Perdue and Tyson said they
would cooperate with any fed-
eral investigation. The compa-
nies said they didn’t know
that children were working in
their plants, which outsource
cleaning to sanitation firms.
The Labor Department
confirmed that it is investi-
gating a Tyson plant and a
Perdue plant, both in Virginia.
The agency could try to hold
GREEN
these companies liable for
the labor practices of their
contractors.
—Lauren Weber
NORTHEAST
Ophelia Still Poses
Flood Threat
After being downgraded
from a tropical storm, Ophelia
on Sunday still threatened
parts of the Northeast with
coastal flooding, life-threaten-
ing waves and heavy rain
from Washington to New
JOBS
York City, the National Hurri-
cane Center said.
As Ophelia weakened, a
new tropical storm named Phi-
lippe brewed in the Atlantic.
The center warned that
swells generated by Ophelia
would affect the East Coast
for the rest of the weekend,
likely causing dangerous surf
conditions and rip currents.
Ophelia was also expected to
drop 1 to 3 inches of addi-
tional rain over parts of the
Mid-Atlantic and New Eng-
land. Isolated river flooding
was also possible.
—Associated Press
LOUISIANA
Defendant Who
Fled in ’91 Caught
A Louisiana man who fled
his 1991 trial for attempted
murder has been arrested
more than three decades
later after authorities found
him hiding in Mexico, authori-
Pratt Industries’ newest 100% recycled paper mill and box factory
The FBI wrote on X, for-
merly Twitter, that it located
Lawson on a tip.
GEORGIA
Carters Make
Public Appearance
Former President Jimmy
Carter and his wife, Rosalynn,
on Saturday made a surprise
appearance at the Plains Pea-
nut Festival in their Georgia
hometown, the Carter Center
wrote in a social-media post on
X, formerly known as Twitter.
Jimmy and Rosalynn
Carter are seen in a reposted
video riding through the fes-
tivities in a black SUV.
The former president, who
has been in home hospice
care since February, turns 99
on Oct. 1. The former first
lady has since been diag-
nosed with dementia.
—Associated Press
.
WORLD NEWS
Russia’s Army Learns From Battle Errors
Poor performance at “right into the surface-to-air would provide a small number
missile engagement zones of of ATACMS missiles to Ukraine
start shocked West, the Ukrainians,” Hecker said. in the coming weeks and that
but adaptation now He added, however, that more might be provided later.
much of the Russian air force Those surface-to-surface mis-
hinders Ukraine now remains intact. “So they siles have a range between 100
now don’t fly in those rings or and 190 miles depending on
BY MATTHEW LUXMOORE if they do, it is for low altitude the model that is provided,
AND MICHAEL R. GORDON for very quick moments and and could similarly target Rus-
then they go back out,” he sian logistical lines.
More than a year after Mos- said, although that tactic has Early in the war, Moscow
cow failed in its goal of a seriously hampered the accu- deployed unprotected columns
lightning victory in Ukraine, racy of the Russian bombing of Russian armor into Ukraine,
the Russian military has missions and that air superior- expecting minimal resistance
steadily adapted on the battle- ity remains well beyond the from Kyiv, and sent under-
field as it shifts to a strategy Russians’ reach. manned and underequipped
of wearing down Ukraine and The Russians have added units into combat, resulting in
remarkable support for his em- U.N. speech, the president During the North Atlantic currently the main focus of
battled country. showed his charming and Treaty Organization summit in their attention, he concentrated
thankful side as he made the Lithuania in July, Zelensky on messaging about why help-
By Daniel Michaels, rounds in Washington, pro- posted a social-media message ing Ukraine helps America.
Laurence Norman fusely thanking the U.S. and Po- rebuking NATO allies for their Zelensky’s messaging overall
and Lindsay Wise land for their assistance. U.S. “unprecedented and absurd” has helped Ukraine, starting
officials on Friday said Presi- resistance to advancing from the war’s first day. That
But there is also Volodymyr dent Biden pledged advanced Ukraine’s candidacy for mem- evening, he addressed an emer-
Zelensky, the actor-turned- long-range missiles to help the bership. gency meeting of European
president and political neo- Ukrainian counteroffensive. That fulmination angered Bi- Union leaders by video, telling
phyte, who can be his own Zelensky’s mix of ire and ap- den and his closest advisers, them, “This may be the last
worst public-relations enemy, preciation reflects his desire to people familiar with the events time you see me alive.” Officials
risking the support of other display strength at home and said, and nearly prompted the present said his comments
world leaders with angry gratitude abroad, Ukrainian po- administration to remove any were deeply moving, prompting
broadsides aimed at some of litical observers say. Volodymyr Zelensky, second right, his wife Olena Zelenska and mention of Ukraine’s candidacy fast and unprecedented EU as-
Kyiv’s biggest benefactors. His contrasting stances and U.S. officials visited the Pentagon 9/11 memorial last week. from a summit communiqué. sistance.
The two Zelenskys were on iconoclastic approach to war- Britain’s then-defense secre- His messaging has won in-
display during the president’s time communications can come spotlight when Russian troops ern governments move slowly tary, Ben Wallace, said Zelensky ternational attention, but is
recent visits to the United Na- at a cost. His informal, appar- invaded in February 2022. with weapons deliveries when should remember that “You’ve also very focused on the Ukrai-
tions and Washington. ently impromptu reactions In the past 18 months or so, Ukraine needs them immedi- got to persuade doubting politi- nians who elected him in 2019.
At the U.N. General Assem- carry an air of authenticity that Zelensky has irked U.N. officials ately to save lives. He said he cians in other countries that, “I am grateful to everyone
bly, he lashed out at some Eu- has won him allegiance and re- by saying the Security Council uses all means available—at you know, that it’s worthwhile” who is waiting for their loved
ropean allies that are engaged spect. But they can also come should act against Russia or times abrasive, at times suppli- to support Ukraine. ones from the front line, to ev-
in a spat over Ukrainian grain off as grating to career politi- consider dissolving itself. He in- catory—to secure additional The next day, a chastened eryone who prays for them ev-
exports, saying they “play out cians and diplomats from other furiated some Israeli lawmak- support. Zelensky called the summit “a ery day, who calls or texts such
solidarity in a political theater” countries who must address ers by comparing Russia’s inva- A senior European official meaningful success for an important ‘How are you?’ to
but are actually “helping set their own domestic audiences. sion of Ukraine to the who has dealt extensively with Ukraine.” He boasted that his hear the much-desired ‘Every-
the stage for Moscow.” Zelensky, who gained broad Holocaust. Ukraine said Zelensky’s de- delegation would return home thing is fine!’ ” he said in a so-
Poland, one of Ukraine’s notice on Ukrainian TV playing In an interview in May, Zel- meanor became more focused with a “significant security vic- cial-media video filmed from
most fervent backers and one a schoolteacher who becomes ensky said that, as an outsider, and precise after the invasion. tory” promising “absolutely Kyiv on Ukraine’s Independence
of the countries tussling over president, was thrust into the he can’t grasp why some West- “Of course in war times, espe- new security opportunities.” Day in August.
WORLD NEWS
In 2003, a group of Swiss an Israeli military raid in the of the breakaway region.
engineers examined a pair of northern West Bank that Pal- Thousands of people were
dams along a river in eastern estinian health officials said evacuated from cities and vil-
Libya. They concluded the killed two Palestinians. lages affected by the latest
structures were under stress It was the latest blood- fighting and taken to a Russian
and recommended strengthen- shed in a surge of violence camp in Nagorno-Karabakh.
ing them and building a third during a sensitive Jewish hol- The first group of about
dam to ease the pressure. iday period. A series of vio- 30 people has arrived in Ar-
The job didn’t get done. lent escalations on the border menia’s Syunik region from
Three companies hired to between Israel and Gaza dur- Nagorno-Karabakh, Karen Ba-
make the repairs during the ing the past week has raised lyan, adviser to the Syunik
twilight of Moammar Gadhafi’s the specter of an escalation governor, told Armenian me-
regime fled the country when for the first time since a brief dia on Sunday. Ethnic Arme-
he was overthrown in 2011. round of conflict last May be- nian separatist authorities in
Three years later, Libya Flooding caused by Storm Daniel devastated Derna, Libya, and killed thousands of people. tween Israel and the Pales- Nagorno-Karabakh also said
fractured into two. Funds allo- tinian Islamic Jihad militant the Russians would accom-
cated to rebuild the dams dis- Tripoli-based think tank Sadeq over Lockerbie, Scotland. second son, Saif al-Islam, group. pany anyone who wanted to
appeared before they could be Institute. “Libyans are fed up. Within days of United Na- halted payments for major in- There were no reported go to Armenia.
spent, according to audits car- They want to see a transparent tions sanctions lifting in 2003, frastructure projects amid a casualties from the strikes in At the same time, two
ried out on the project. In process that actually brings in- Miguel Stucky, a Lausanne- power struggle between the Gaza. Earlier on Sunday, the dozen ambulances carried 23
2014, Islamic State extremists dividuals to account.” based dam engineer, received dictator’s sons and the Libyan Israeli military shot and people who sustained severe
seized the area. A Russian- In Derna, the epicenter of a call from Libya’s General government at the time, Lib- wounded five Palestinians wounds during the two days
backed warlord took control a the Libyan disaster, throngs of Water Authority seeking ad- yan officials said, including who were rallying at the sep- of fighting to Armenia from
few years later, putting the people have demanded justice vice on the two dams, people Mohammed Ali Abdallah, who aration fence along the Israeli Nagorno-Karabakh, the coun-
dams further beyond the and the removal of local lead- familiar with the matter said. worked on a committee tasked frontier with the crowded en- try’s Health Ministry said.
reach of the recognized gov- ers as the full toll becomes His consulting firm, named in 2012 with consolidating the clave. Nagorno-Karabakh is lo-
ernment in Tripoli. clear. Demonstrators gathered Stucky, recommended country’s debts after the fall The Israeli army on Sun- cated in Azerbaijan and had
Then, on Sept. 11 this year, in front of a mosque during one strengthening the existing two of the Gadhafi regime. day said it had targeted two come under the control of
after two decades of neglect, protest. Later, a smaller group structures, building a third A brief window to stabilize posts belonging to Hamas, ethnic Armenian forces,
the twin dams were over- set fire to the mayor’s house. one and clearing up the em- the dams did open, in 2021, the militant group that rules backed by the Armenian mili-
whelmed by a storm rolling in A Wall Street Journal in- bankments to avoid flooding, when Libya’s rival factions Gaza, just east of the Bureij tary, in separatist fighting
from the Mediterranean, vestigation—based on a re- the people said. agreed to form a unity govern- refugee camp and Jabaliya. that ended in 1994.
which destroyed them and view of documents including Stucky continued advising ment. According to Libyan of- —Associated Press —Associated Press
sent a torrent of water blast- reports from the Libyan gov- the Libyan government, but in ficials, the water ministry
ing down through the city of ernment’s Audit Bureau and 2008, the Swiss businessman meant to supervise the reha-
Derna, washing entire neigh- interviews with Libyan offi- narrowly escaped arrest when bilitation of the Derna dams
borhoods out to sea and kill- cials and the foreign contrac- Gadhafi’s son Hannibal was was paralyzed by a dispute
ing more than 6,000 people. tors hired to fix the dams— detained in Geneva for alleg- between the minister and his
The catastrophic loss of life shows a trail of edly beating his servants. deputy, a militia leader who
Thanks to a transformational $5 million gift from the Andrew Sabin Family Foundation,
Wake Forest University’s Andrew Sabin Family Center for Environment and Sustainability
will serve as a leader and model of interdisciplinary research, scholarship and creative
work within higher education. Together, we can make tomorrow sustainable for all.
.
WORLD NEWS
109
New York-based firm steadily bower’s aim was simple: Pile in agency that it wouldn’t bundle
$ increased its position and holds shares early, then profit if the Horizon products. He added
more than $500 million in the acquisition closed and Hori- over two million shares at an
Compare at $159 shares, filings show. Other zon’s shares rose to their average price of slightly more
funds that bet on Horizon in- agreed-upon deal price. than $93 each following news
clude Farallon Capital Manage- From late November of the FTC suit—and then kept
ment and HBK Capital Manage- through mid-May, Pentwater buying.
ment, according to public purchased more than seven Earlier this month, the FTC
filings. million shares in the drug- agreed to end its legal chal-
“Because of the FTC’s law- maker, constructing what Hal- lenge of the deal as part of a
suit, we have had the ability to bower said was his largest risk proposed settlement with Am-
take something that would position at the time. But Hal- gen, paving the way for the
have made tens of millions of bower was also monitoring company’s acquisition of Hori-
dollars and instead make many, what he called a “difficult to zon to close as soon as next
many times that amount,” said predict regulator”—the FTC. month.
Matt Halbower, Pentwater’s Aware that the agency had Horizon’s shares finished
chief executive. moved to block Microsoft’s ac- Friday up 0.1% at $115.61—be-
Our love knot drop earrings, forever entwined, are lit Halbower, a Harvard Law quisition of Activision, he low Amgen’s proposed $116.50
School graduate with a degree bought bearish options con- per share price—offering more
by diamond accents and set in bright sterling silver. in electrical engineering from tracts on Horizon’s stock, offer- upside for Pentwater’s stake.
the Massachusetts Institute of ing Pentwater protection on its Pentwater now owns more
The perfect gift for a meaningful occasion! Technology, launched Pentwa- position in case the FTC were than 15 million shares in Hori-
ter in 2007, after stints at to intervene. zon, according to regulatory fil-
hedge fund Citadel and the The FTC’s lawsuit arrived on ings compiled by research firm
Shown larger for detail. now-closed Deephaven Capital May 16. As other investors M&A Monitor.
Management. His firm is rushed for the exits, Horizon’s The regulator defended its
named after Pentwater, Mich., opposition to the Amgen-Hori-
on the shoreline of Lake Michi- Horizon’s share price zon deal and the resulting set-
gan, near where Halbower over the past year tlement.
grew up and where he and his $120
“The FTC got extensive,
wife spent their honeymoon. binding agreements on all the
Pentwater last year scooped concerns we raised,” FTC
110
up shares of Twitter, now X, in spokesman Douglas Farrar said
a wager that Elon Musk would in an email. “The Amgen-Hori-
ultimately acquire the com- 100 zon settlement is a legal vic-
pany, and it was a vocal oppo- tory for the FTC but more im-
nent of Rio Tinto’s takeover of 90 FTC suspends portantly, a big win for
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MARIO ANZUONI/REUTERS
tions occupy part of a strategic nations in patrolling the fish-
expanse of ocean between Ha- ing grounds that are a source
waii and the Philippines and of livelihood from poaching by
host critical U.S. military facili- fleets from China and other
ties. The administration is countries.
seeking $7.1 billion over 20 At the same time, the U.S.
years to renew the three pacts Agency for International De- The pact would increase pay and set safeguards for the use of artificial intelligence. A picket line last week in Los Angeles.
starting in the year beginning velopment is expanding its and
Oct. 1.
Republicans in a key House
committee have yet to include
the Peace Corps’ projects in
the region.
The U.S. has opened an em-
Tentative scripts to disrupt those shoots.
The Los Angeles economy
has been severely hurt by the
In recent weeks, the AMPTP
gave ground on the staffing is-
sues as well as exploring the
In early September, some
top showrunners reached out
to the union to express con-
the funding in legislation, say-
ing the agreement with the
Marshalls isn’t completed and
bassy in Tonga, and adminis-
tration officials said one in
Vanuatu would follow. An at-
Writers Pact strike: A spate of productions
ground to a halt, and thou-
sands of other Hollywood
idea of changing formulas for
streaming residuals that would
reward success more than the
cern about the lack of negotia-
tions, which put more pressure
on the WGA to get back to the
that the administration must
identify cuts elsewhere to off-
set outlays on the pacts and
tempt to do the same in Kiri-
bati has seen little progress.
An anti-U.S. whispering cam-
Reached workers dependent on the in-
dustry for their livelihoods
have been sitting on the side-
current model.
While a tentative agree-
ment is good news, the strike
table. “Shameless” producer
John Wells, “Riverdale” pro-
ducer Greg Berlanti and Ryan
keep overall spending down. paign emanating from the lines. The Milken Institute has has already done a lot of dam- Murphy, whose credits include
Completing the pact with large Chinese Embassy there Continued from Page One projected the hit to California’s age to the industry. Movie “Dahmer—Monster: The Jef-
the Marshalls and funding the has contributed to the diffi- Donna Langley. economy to be in the billions. studios began delaying major frey Dahmer Story,” were
three agreements are being culties, one official said. A resolution to the writers’ Other states feeling the pinch film releases, networks among those showrunners.
seen as a test of U.S. commit- When a congressional dele- strike could open the door to a from the shutdown include changed fall prime-time line- Around that time, daytime
ment toward a region it once gation visited the Solomon Is- deal with the Screen Actors Georgia and New Mexico. ups and entertainment com- talk show host Drew Barrymore
dominated but then neglected lands in August, Prime Minis- Guild, the performer’s union Among the WGA’s demands panies put talent deals on and HBO’s Bill Maher said they
in recent decades, providing an ter Manasseh Sogavare that has been on strike since were a minimum number of hold. Some executives began planned to resume shooting so
opening for China. President declined to meet the group as mid-July. It marked the first writers per television show questioning the viability of that their staff could work, but
Biden is hosting a collection of did other cabinet ministers, time both unions went on and guaranteed employment the television season and reversed the decisions after in-
Pacific island leaders on Mon- said Cleo Paskal, a senior fel- strike since 1960. for those writers from concep- planned theatrical releases dustry backlash.
day for a summit administra- low with the Foundation for Getting both strikes re- tion to postproduction. They early next year if the strike In a statement, the Screen
tion officials said is intended Defense of Democracies think solved could salvage at least also wanted additional residu- dragged on into October. Actors Guild-American Federa-
to demonstrate U.S. resolve to tank in Washington, who was some of the 2023-24 television als from streaming programs Negotiations between the tion of Television and Radio
reassert the American pres- on the trip. season and the summer movie and more transparency around WGA and AMPTP initially re- Artists applauded the tenta-
ence in the region. Beijing has made some of season. Typically in television how streaming shows fared started on Aug. 11, which gave tive pact.
“If we fail to approve that its deepest inroads in the Solo- it takes at least two months of with viewers. some in the industry hope that “SAG-AFTRA congratulates
package in a timely way, we mons, striking a security pact outlining and writing episodes The use of artificial intelli- the dispute would soon be re- the WGA on reaching a tenta-
severely risk our credibility with Sogavare’s government before production starts. gence and the staffing man- solved. Those talks stalled and tive agreement with the
vis-à-vis the region and obvi- and giving him an audience The WGA went on strike dates were particularly diffi- relations between the two AMPTP after 146 days of in-
ously vis-à-vis what we are with Chinese leader Xi Jinping May 2, closing writing rooms cult areas to find common sides grew nastier. credible strength, resiliency
saying on competing with in Beijing in July. industrywide. The strike quickly ground. The studios and The AMPTP in late August and solidarity on the picket
China,” said Joseph Yun, the Sogavare, who attended the shut down late-night TV shows streamers were initially made public its latest offer to lines,” the statement said.
envoy leading U.S. negotiations United Nations General Assem- and stalled work on scripted against any mandatory staff- striking writers. The WGA criti- “While we look forward to re-
with the three nations. bly last week, is skipping the television shows and films. ing and their unwillingness to cized the offer and the viewing the WGA and
At last year’s Pacific island White House summit, adminis- Members of the union, which negotiate on that point was AMPTP’s decision to make it AMPTP’s tentative agreement,
summit—the first of its kind tration officials said. The offi- represents 11,500 writers, mobi- one of the key reasons talks public, which some viewed as we remain committed to
held by the U.S.—Biden and cials declined to say how many lized to form picket lines out- never really gained any trac- an attempt to undermine the achieving the necessary terms
leaders and senior officials Pacific leaders will attend. side productions with finished tion last spring. union’s hold on its membership. for our members.”
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A10 | Monday, September 25, 2023 THE WALL STREET JOURNAL. THE WALL STREET JOURNAL. Monday, September 25, 2023 | A11
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Sleuths
Debunk
Bad Studies
Continued from Page One
across many different papers,
it becomes like a one in qua-
drillion chance that there’s
some benign explanation,”
said Simmons, a professor at
the Wharton School of the
University of Pennsylvania
and a member of the trio who
PERSONAL JOURNAL.
© 2023 Dow Jones & Company. All Rights Reserved. THE WALL STREET JOURNAL. Monday, September 25, 2023 | A13
The risk of
always saying yes
Earlier in his career, Irvan Krant-
zler used to nod his head yes to
M
he could improve his communica- sist. Or, I loved the “Barbie” guage grounded. For instance, de- a new team of salespeople, she as-
archiano Loen tion style during presentations. movie, too! With the boss, the scribe a behavior instead of lob- sumed the pair were just spit-
stared at his Warm small talk and jokes evapo- photo of their kid is suddenly ex- bing a negative adjective at your balling thoughts in confidence. A
screen for two rated, and Loen’s big projects traordinarily cute, their jacket per- boss. few months later, her comments
PHOTO ILLUSTRATION BY ELENA SCOTTI/THE WALL STREET JOURNAL, GETTY IMAGES
hours. He drafted were redistributed. fect for today’s presentation. Wood says she’s OK with hear- were shared with HR, she says,
one response, then Now he uses what he calls “the “At the end of the day, we want ing that she sometimes jumps and a person she had identified as
another. He Jacuzzi approach.” He dips a toe in to hear good things,” Feldman around from idea to idea in brain- weak was fired.
begged someone in human re- with bosses to test the water, see- says. “Your boss is just like every- storming sessions. She doesn’t She felt guilty and betrayed,
sources for help. Still, the ques- ing how they react to a fairly neu- body else.” want you to call her “scattered.” and soon left the company.
tion vexed him. tral piece of commentary before What about when bosses want “That’s like, ‘Ouch,’ ” she says. Now when clients of her sales
What can your manager im- saying anything of substance. He to be tapped into what’s really go- “It has that element of judgment.” training and consulting firm re-
prove on? might ask, would that meeting be ing on, too? After all, you’re the quest her feedback, she asks how
“Oh God, I actually have to an- better on Tuesday than Monday? one who’s connected to collegial Feedback, please! they’re going to use it. Are they
swer this,” the tech worker “It’s a survival mechanism,” he chatter and gossip, which can give Everyone seems to want our take deciding the fate of a division, this
thought as he pondered the em- says. managers insight into how they these days. We’re subjected to week? Or just considering a possi-
ployee survey. “What am I going can do a better job and get ahead. quarterly 360 reviews, weekly bility, and gathering dozens of
to write?” The lies we tell Giving the right information to pulse surveys and drive-by re- opinions in the meantime?
Bosses claim they want honest The average person lies three your boss can help you, too. You quests for input by the coffee ma- The answer, she says, deter-
feedback. Telling the truth can times in the first 10 minutes of just have to share it the right way. chine. It’s part of a longstanding mines her candor.
spark change, make your work life meeting someone new, according “I want people to feel like they shift from command-and-control “Everyone says that they want
better and show off your own as- to research from Robert Feldman, can be them,” says Karin Storm leadership styles to more collabor- feedback,” she says. “There’s
sertiveness. Or you could get fired. a professor of psychological and Wood, who manages a team of ative ways of running companies, something to be said for taking a
(At least it feels that way.) brain sciences at the University of communication professionals at a says Doug Stone, who teaches con- moment.”
S
eptember in New York City is Brookes’s company encourages ference you make.”
a corporate scheduler’s night- all employees—even the boss—to With strangers,
mare and a schmoozer’s take public transit when possible, so Brookes says his
dream, with Climate Week NYC, the he relies on subways and buses to networking strategy
United Nations General Assembly, get to meetings, a competitive ad- is to ask what
Fashion Week and other events vantage when the schedule is brought them to
crowding the calendar. packed and traffic snarled, he notes. town.
It is also a kind of networking Last Monday morning, shortly after “You don’t want
Olympics for high-powered people. 7 a.m., he boarded a crosstown bus to introduce yourself,
Breakfasts typically start at 7 a.m., moving in the direction of Scandina- don’t want to do an
and leaders of all kinds run a gant- via House on Park Avenue, to a icebreaker about
let of meetings that can end with gathering of business leaders held CEO Alan Brookes says his net- Wylde compares the city’s Sep- yourself, if you know what I mean,”
after-dinner drinks after midnight. by the World Business Council on working strategy is to ask people tember scrum to the World Eco- he says. “But people rarely will not
In between are spontaneous chats Sustainable Development. what brought them to town. nomic Forum in Davos, Switzerland. talk about themselves.”
on meeting sidelines, tête-à-têtes in “I don’t believe in private cars [or] “Everybody’s paying attention to Brookes says he worked rooms
hotel lobbies and even a taxi unless I Kyle Dropp, co-founder of busi- themselves being seen. They’ll all week to learn as much as he
countless cocktail- have to,” says ness research outfit Morning Con- never notice if I’m missing.” could, not just to pitch his company.
party conversations. Brookes, whose com- sult, hosted a Monday-night soiree So thick are the crowds of bold- He sparked a conversation with
Scores of C-suiters Executives say pany is helping design at his terraced Lower East Side face names last week that Prince somebody from Deloitte and called
and pooh-bahs criss- they have and build a major apartment for executives and mar- William, hosting the Earthshot it fascinating to hear what projects
crossing the city this flood-control project keting gurus. Hilton showed off a Prize Innovation Summit, marveled they were involved with. “This is
month say it takes learned not to around lower Man- new hotel in Times Square. Manag- that he went for a morning jog why I’m here really,” he says.
getting choosy about
invitations, a great
waste a minute hattan. “The traffic is
horrendous, so this is
ing executives and expectations
amid the frenzy of invitations re-
without getting noticed. (Much.)
The day before client meetings
Judith Wiese, an executive with
Siemens, the German industrial
opening line, an extra of their time. much quicker.” quires ninja-like blocking and tack- that would include swings through conglomerate, is chatting people up
laptop battery pack By evening rush ling, says a public-relations person the redesigned Tiffany & Co. on on artificial intelligence on the side-
and comfortable hour, as Brookes left a in charge of his CEO’s schedule. Fifth Avenue and the David Yur- lines of gatherings. She tries to end
shoes. In high-density meeting at the New Kathryn Wylde, who runs the man flagship store near Madison most conversations with: “Who do
networking situations, executives York Stock Exchange, the skies had powerful business group Partner- Avenue—both Arcadis projects— you get inspired by? Who would
say they have learned not to waste opened up. He ran to the subway in ship for New York City, weighed Brookes headed toward the East you recommend I go see?”
ELINOR KRY FOR THE WALL STREET JOURNAL
a moment. the rain, arriving early—and thor- invitations to a reception at the River for a tour of his flood-mitiga- Her strategy isn’t only to attend
Among the leaders in networking oughly soaked—at Google’s dinner Metropolitan Museum of Art on tion project, designed to protect meetings, but also to capture the
mode is Alan Brookes, the new for executives near SoHo designed the Upper East Side along with a New Yorkers from future storm mood. Conversations about sustain-
chief executive of Arcadis, a $4 bil- to provoke a conversation about food dinner in downtown Brooklyn. surges. Next was an employee ability are shifting from the theo-
lion architecture and engineering sustainability. Executives were Attending both? “Logistically im- town hall and lunch with staff at retical to the practical, she says,
firm based in Amsterdam that em- served salmon, chocolate and French possible,” she says, noting that she the office in Tribeca. because companies are getting
ploys 10,000 people in the U.S. Be- Champagne—a “Last Supper” of deli- chose the National Grid-hosted Brookes talked with staff about specific about their climate goals.
tween client meetings, cocktail par- cacies, one host said, that future Brooklyn dinner because she had why the company has taken on “I always love these weeks,” Wi-
ties and roundtable discussions, generations won’t get to enjoy due already committed to it. “You just certain contracts, such as one to ese says. “You get a sense of
Brookes, 62 years old, says he was to ecological crisis and overfishing. have to cut your losses.” build charging stations for EVs, and where the conversation is moving.”
.
PERSONAL JOURNAL.
BY RACHEL WOLFE
C
Tiffanie Williams went straight to
hoosing an anonymous the sperm banks. She had to find a
sperm donor has never second job and took out a $20,000
FROM TOP: PHOTO ILLUSTRATION BY DAISY KORPICS/THE WALL STREET JOURNAL, ISTOCK (2); BLUE FRANSWA; JULIA ENSIGN
idea of being found. California to raise its cool factor and in- sperm and its associ- bought vials from a single donor.
crease donor diversity. ated costs are hardly After months agonizing over
Julia and Abbie Ensign said California Cryobank pays do- ever included, fertility the choice—including upgrading to
insurance didn’t cover costs for nors up to $1,500 a month, and doctors say. a $275 premium California
conceiving their son, Harbor. more recently started giving out Cryobank subscription—Claire
Wasserman and Ashley Louise fi-
Sperm bank nally agreed on a donor.
alternatives Tiffanie Williams says she took The next time donations be-
There are few easy workarounds on a second job to help pay for the came available, the Los Angeles
to going through a donor bank. conception costs for her twin boys. couple frantically tried to check
When asking a friend or family out what they could find online,
member, in what is known as di- matches people seeking donors only for the sperm bank’s app to
rected, or known, donation, cou- with prospective men, for a crash and the supply to dwindle
ples and single moms must shoul- monthly fee. She says she was in- before they could log back in.
der the cost of medical and genetic undated with crude offers to have “It was like buying Taylor Swift
testing alone. They must also hire sex. tickets,” says Louise, co-founder
lawyers to write up parental-rights “It was the creepiest thing I’ve with her wife, Wasserman, of a ca-
contracts. Dr. Iris Insogna of the ever seen,” Cliffer says. reer-development organization.
Columbia University Fertility Cen- Cliffer, 37 years old, ended up Though they eventually pro-
ter says this method is a less pop- paying about $5,000 for the rec- cured vials, their first two at-
ular option as a result. ommended four vials from Califor- tempts at IUI didn’t take. After
Ilana Cliffer, a Harvard post- nia Cryobank. She says she made more than $11,000 on donor sperm
doctoral researcher, says she ini- the purchase more quickly than and fertility treatments, the cou-
tially considered asking a male planned after receiving a message ple finally got the news that they
friend to be a donor after she saw from the bank: “Sperm prices are were hoping for. They are expect-
how much a single unit of sperm going up in a week, so you’d bet- ing twins.
would cost. But her best bet had ter buy now.” They say they won’t go through
recently moved across the world. She is thrilled with the result: the costly and exhausting process
She next turned to an app that Her 7-month-old daughter, Zazi. again. “We are done,” Louise says.
MY RIDE BY A . J. BAIME
A Camaro in Which
A Couple Fell in Love
Tom McLaughlin, a 55-year-old CPA played in bands. We headlined the
who lives in Monee, Ill., on the cus- Naperville Ribfest. We played Navy
tom “Rockstar” 1979 Chevrolet Ca- Pier in Chicago, and the Taste of
maro Z28 he owns with his wife, Chicago food festival. A lot of bars
Meri McLaughlin, a legal assistant, and clubs, too. So the Rockstar
as told to A.J. Baime. theme felt good to Meri and me,
and over time we kept coming up
I
bought the Camaro right around with ideas.
when Meri and I started dating The color is a deep purple. The
in 1987. We’d go cruising. We inspiration is CadZZilla, a custom
didn’t have a lot of money. But, as I car owned by Billy Gibbons of ZZ
always say, we fell in love in this Top. We had little touches put
car. In 1988, I went into the U.S. around the car, things you wouldn’t
Army and got deployed overseas. In see unless you really looked. We
1989, I came home, and we pulled had a guitar painted on the back- told the interior guy, when I open We had an idea to do some de- ‘When you start it up, it is loud!’
the Camaro out of storage to use side of the fuel cap door. A local the door, I want it to feel like a vel- tailing on the front hood scoop. I says Tom McLaughlin of the 1979
as our limo at our wedding. The car artist painted the Rockstar logo on vet rope is opening and I’m walking drew out notes on a music staff on Camaro he owns with his wife.
moved around: to my mother-in- the engine cover, under the hood. I into a VIP area. tracing paper and a pinstriper
law’s garage, to our condo and then painted the notes along the edges was even finished, and it won a
to our first house. When we turned of each side of the scoop. On the first-place award in its class at the
50, we wanted to restore it and passenger side are the notes to Chicago World of Wheels show in
turn it into something special. “Take Me Home Tonight” by Eddie March. Then, after a five-year build,
My best man at my wedding Money, and the driver’s side has we brought the completed car
knew a local car builder, the owner of “Livin’ on a Prayer” by Bon Jovi. If home on Wednesday, Sept. 13.
EVAN JENKINS FOR THE WALL STREET JOURNAL (2)
Platinum Custom Cars. The builder you know how to play guitar, you When you start it up, it is loud!
came up with the idea of “Rockstar.” can look at the car and play these Cars like this are never really done.
We worked with a local shop called songs. We have an idea to replace the
Zolper’s Auto Restorations for the On the wall in our garage, we three pedals. For the clutch pedal,
body and paint, and with Schober’s painted the opening line from the we want to put a pause button. For
Custom Hot Rod Interiors. Sammy Hagar song “Loud”: “Eigh- the brake, a stop button. And for
I got my first guitar when I was teen, I found my dream machine; the gas, a play button.
in the Army, and for 15 years I turn the key and every light turned A lot of things have changed
green.” The song actually says 16, since I bought this car 36 years ago.
A local artist painted the but I bought the Camaro at 18, so But some things haven’t. People ask
‘Rockstar’ logo onto the engine we changed the words. me, what do you want to do? I just
cover under the hood. We showed this car before it want to hang out with Meri.
.
ARTS IN REVIEW
A
New York tor of costume, the exhibition be- A 2016 line of Smeg appliances, appropriated uniforms from White “Sugar, Spice & Everything Nice?”
sk yourself the ways gins by stating: “Food motifs have their curvy retro shapes hand- Castle and McDonald’s—capitalism, is a confectionery of dresses, hats
that food and fashion been woven and printed on tex- painted with fruits and cherries by consumerism and childhood cap- and shoes that equate femininity
connect and your first tiles and clothing for hundreds of Dolce & Gabbana, is a high-visibil- tured in turrets and golden arches. with bakery sweets. Lavender, pink
thought will probably years, and over the past decade, ity mash-up of food and fashion. Dinner out follows, a sit-down in and buttercream are the dominant
be matter-of-fact: Eat this relationship has become more The “Day” moves on to the which style is concentrated above colors in scrumptious concoctions
too much and your visible in new ways. Food themes farmer’s market and its fashion the table, in the bodice. by Angelic Pretty, Cristóbal Balen-
clothes won’t fit. Given a minute, are compelling for fashion design- produce, illustrated by accessories The main gallery is organized ciaga and Jean Dessès.
you might fix on a word that’s in- ers because they can communicate camouflaged as lemons, bananas, like a food hall, with pink walls The four stalls on the far wall
trinsic to both: taste. In the con- a multitude of concepts engaging grapes, lettuce and the like, none and black archways over each stall, are activist, sociological and scien-
text of food, taste is a biological the issues that shape our cultures better than Bes-Ben’s adorable 10 in all. We begin with four stalls tific. A 1987 denim overall dress
system; with fashion, it’s a system and societies.” These concepts cocktail hat of mini corncobs and given over to four facets of history. by Patrick Kelly, who often wore
of aspiration and imagination, the make up the show. green husks curling like feathers “Haute Couture/Haute Cuisine” overalls himself, nods to black
educated eye and a moment’s leap In the introductory gallery, the (1962-65). Fast food in the after- sees us in the court of Louis XIV, American sharecroppers as well as
(or lapse). Different as they are, curators accentuate the dailiness where the “art of liv- to the fact that food and fashion
these two systems melt into each of the food-fashion nexus with “A ing” was established, are both rooted in agriculture. Jer-
other. I recall, for instance, a line Day of Food as Fashion.” It starts and continues through emy Scott’s “Chocolate Bar Dress”
of handbags Coach brought out a with breakfast in “The Fashion the Rococo, when cui- (Fall 2014), a goddess gown in
few years ago. It featured red Kitchen,” a colorful scenario that sine and couture were Hershey brown, is the body com-
cherries with green stems printed exemplifies the show’s creativity. ambitiously embel- modified. “Growing Alternatives”
on white pebbled leather. Oh those Breakfast means bread products, lished with bows, takes up the “simple life” champi-
cherries were desirable, so cheery, and here they are purses (bread to scrolls and swags. oned by William Morris in the 19th
yet my inner arbiter was mysteri- hold bread!)—among them, Fendi’s “Dressing to Dine” ad- century, embraced by hippies in
ously rattled by them. It was sys- coveted Baguette handbag, this dresses the way social the 1960s and ’70s, and promoted
temic overload. one from 2023, and a plastic purse change, especially new by today’s Slow Food and Slow
The above thoughts fall far that resembles a loaf of Wonder freedoms for women Fashion movements.
short of what the exhibition “Food Bread (1986). A sunny 1950s shirt- during the 1920s, saw Of all the stalls my favorite is
& Fashion,” at the Museum at FIT, waist dress with the apron printed the evolution of eve- “Fashion From Your Fridge,” which
delivers. The show is tightly fo- on, and Bonnie Cashin’s more ele- ning attire. “A Feast spotlights breakthrough materials
cused, with 80 or so garments and vated pink cotton and lurex bouclé for the Eyes” displays made from organic matter. Cloth
accessories on view. Low on aca- apron (1949-59), recall the post- six pieces inspired by and buttons created from the casein
demic jargon, the wall text and la- war home-economics classes in images of food in art, protein in spoiled cow’s milk!
bels brim with wide-ranging in- and includes a 2018 Leather-like goods developed from
sight, swinging off the shared Clockwise from right: Perry Ellis Comme des Garçons apple skins and mushroom myce-
vocabulary of eating and dressing picnic suit (spring 1990); Bergdorf gown that’s a giant lium! A silk substitute derived from
and having fun with the double Goodman hat (c. 1965), Nancy Giuseppe Arcimboldo orange pulp! It’s Cinderella in the
meanings. This show is delightful, Haggerty shoes (c. 1932) and food face, and “The garden, being outfitted for the ball.
or rather, delicious. Balenciaga hat (c. 1955); plastic Souper Dress,” a War-
Co-organized by Melissa Marra- bread purse (1986); and Moschino holesque paper shift Food & Fashion
Alvarez, MFIT’s curator of educa- black wool dinner suit (fall 1989) printed with Camp- The Museum at FIT, through Nov. 26
bell’s soup cans
(1966-67). Then comes Ms. Jacobs is the Arts Intel Report
a stall of four design- editor for the weekly newsletter
ers who produced Air Mail.
THE MUSEUM AT FIT (5)
.
SPORTS
How Rugby
Can Help
NFL Defenses
The Eagles’ quarterback sneak is driving
defenses nuts. Rugby tactics offer a remedy.
BY JONATHAN CLEGG tactic that has become known as
AND ANDREW BEATON the tush push. The player in pos-
session of the ball is surrounded
The NFL play that torments the by teammates who bind their
brightest defensive minds in foot- arms together and drive him for-
38 39 40 41 42 43 44 45 of the Jets
and Bills
46 47 48
40 Home of the
49 50 51 52 Magic
43 Increased
53 54 55 56 44 Liquor in
some fizzes
57 58 59 60 61
45 Simple shirt
Ethiopia’s Tigst Assefa shatters a world record at the Berlin Marathon.
62 63 64 47 Bit of
breakfast
OPINION
Why Is Anxiety Rising? BOOKSHELF | By Michael Luca
“Olivia ex-
pressed despair
Monahan took a leave of ab-
sence for anxiety right after
tion—all made anxiety worse.
This scared everyone and led
consider what words not to
use. It’s an indoctrination of
Where Have The
Good Men Gone?
due to climate the merger announcement to an overload of screen- microaggressions, trigger
c h a n ge .” with Saudi-backed LIV Golf. based activities like Zoom, warnings, safe spaces, cancel-
“Badge is anx- This is mostly a U.S. prob- Netflix and videogames that lation, worrying about ap-
ious when he lem—affluenza?—which I’ve force dopamine dependence pearing privileged, and writ-
thinks about seen blamed on social media, on young minds and eliminate ing papers that bow to the
INSIDE
the future.” In poor sleep and previous un- important and calming social current and constantly chang-
VIEW
August, a Mon- derreporting. Yes, Instagram- cues a generation may never ing orthodoxy.
The Two-Parent Privilege
By Andy
tana court inflamed narcissism is a prob- learn. No one can keep up. “Pri- By Melissa S. Kearney
Kessler
ruled that lem, but I think the rise of mary” bedrooms, not “mas- (Chicago, 240 pages, $25)
these and other anxiety is about more than ter.” Tampons in men’s bath-
Fears of extinction,
F
youth plaintiffs “have a funda- that. So what is it? rooms. And don’t dare eat a or families with young children, morning routines can
mental constitutional right to • Extinction anxiety. Daily hamburger. Then parents tell resemble an assembly line: Make breakfast. Remind the
a clean and healthful environ- news reports question the Covid, socializing students who call home in kids to brush their teeth. Negotiate which snacks to
ment, which includes climate.” ability of humans to survive and a second Trump tears that they are probably include in their backpacks. Remind them again to brush their
Anxiety is on the rise and, in the near future. AI experts anxious and should ask for ex- teeth. Look for shoes. Head out the door. Head back in the
rightly or wrongly, is blamed warn about human extinction. term are all at play. tra time for papers and ex- door to get the stray backpacks.
for everything. A recent fed- In February, President Biden ams. In an oppression-ob- In our household, when one parent is out of town, the
eral survey reports 27% of re- called the “climate crisis” an sessed culture, anxiety process seems to intensify and can feel like the “I Love Lucy”
spondents had symptoms of “existential threat.” Are the • Status anxiety. For years, becomes a form of victim- episode in which Lucy takes a job wrapping chocolates.
an anxiety disorder, up from Four Horsemen of the Apoca- students have been told to hood. Thanks, educators. Quickly overwhelmed by the speed of the conveyor belt, she
8% in 2019. That’s scary. lypse heading our way? In study hard, take advanced- • Weed-induced anxiety. starts shoving chocolates anywhere they’ll fit, and con-
Youth emergency-room visits 2019 Rep. Alexandria Ocasio- placement courses, crush the Plenty of studies show that cludes, “I think we’re fighting a losing game.”
for mental health have gone Cortez said, “The world is go- SAT and ACT, overbook extra- high levels of THC can induce Over the past 50 years, the number of one-parent house-
up significantly. ing to end in 12 years if we curricular activities, show anxiety, paranoia and panic. holds in America have dramatically increased. In 2019, 57% of
Do you suffer from anxi- don’t address climate change.” leadership and get involved in In 1995 the potency or aver- U.S. children lived with two parents, down from 80% in 1980. Is
ety? The Mayo Clinic’s list of Only eight years to go. Most community service—all appli- age concentration of THC of the rise of single-parent house-
signs and symptoms includes of us know her as a grand- cation-essay fodder to get cannabis was about 4%. By holds an emblem of empower-
feeling nervous, feeling a standing bubble head, but into top universities. Over- 2014 it was 12%. Many dispen- ment or a sign of dwindling
sense of impending danger or some young people actually whelmingly, students are still saries now advertise potency support for children?
panic, increased heart rate, believe her. A recent New rejected. This is devastating over 20%. The Godfather OG Discussions of parenting can
rapid breathing, sweating and York Times op-ed was titled for a generation that always strain is 34%. So much for be fraught, dominated by feel-
trouble concentrating. Apart “Why I Bring Up Climate got participation trophies. No mellowing out. Strangely, ings over facts, and too often
from those with nerves of Change on First Dates.” Be- one ever turned them down, some take Cannabidiol, or tinged with judgment rather
steel, I’ll bet we’ve all had at cause you don’t want second and now they feel shame for CBD, a non-high-inducing than support. The problem is, in
least one of these symptoms. dates? attending a perfectly fine form of cannabis, to cure anx- part, that there has been limited
A survey by KFF suggests that • Covid anxiety. Global pan- state school. I blame parents. iety. accessible evidence on the causal
half of 18- to 24-year-olds re- demics are scary, but did we • Speaking anxiety. Once on • Trump anxiety. ’Nuff said. effect of household logistics on
port anxiety or depression really need to pile on bad pol- campus, students have to Well, except that the former children’s outcomes.
symptoms. Not everyone can icy that amplified anxiety? choose their words, even pro- president’s recent mug shot Enter “The Two-Parent Privi-
deal with them. Lockdowns, school closings, nouns, carefully if they don’t looks like the anxiety-inducing lege: How Americans Stopped
Gymnast Simone Biles and double masks and face want to be labeled oppressors. chief droog from Stanley Ku- Getting Married and Started Fall-
tennis player Naomi Osaka shields, parents wiping down What should be four fun years brick’s “A Clockwork Orange.” ing Behind,” Melissa Kearney’s
have withdrawn from compe- groceries, social distancing, of learning and building social I’m anxious just thinking clear-eyed look at the economic impact of having a second
titions because of anxiety. canceled parties, closed skills has become full of anxi- about all this. parent at home. Ms. Kearney is an economist at the University
PGA Tour commissioner Jay churches, mandatory vaccina- ety-filled pauses as students Write to [email protected]. of Maryland; her topics of research range from the social im-
pact of the MTV show “16 and Pregnant” to the recent Covid
baby bust. As she notes, “discomfort and hesitancy have stifled
Biden Does Big Labor’s Bidding in Mexico public conversation on a critically important topic that has
sweeping implications not just for the well-being of American
children and families but for the country’s well-being.”
D o n a l d the U.S. trade representative, some $54 million. The union elected. He holds a propor- Mr. Kearney’s objective is two-fold: first, to offer a data-
Trump plans or USTR for short. Along with has yet to comply, relying on tional-representation seat al- driven overview of the rise and impact of single parenting;
to visit De- her predecessor, Bob Lighthi- court injunctions to delay the located to him by President second, to propose strategies to enable more kids to live in
troit this zer, she played a key role in legal resolution. The union Andrés Manuel López Obra- stable households.
week. He’s developing the problematic maintains its innocence. dor’s Morena Party. In other When it comes to the economic well-being of children, she
looking for rule. It isn’t clear that right- Meantime, it’s asking the words, it’s his political heft argues, having two parents really is better than one—on av-
AMERICAS s u p p o r t to-work states in the U.S. USTR to intervene in the as a union leader that put erage. Consider the conclusion of a 2004 paper, “Is Making
from mem- could pass its tests. Thanks matter of the San Martin him in the upper chamber, Divorce Easier Bad for Children? The Long-Run Implications
By Mary
bers of the go to Ms. Tai for demonstrat- mine, despite lacking territo- where all senators enjoy im- of Unilateral Divorce,” by the economist Jonathan Gruber.
Anastasia
United Auto ing that the rule is also easy rial jurisdiction. munity from criminal prose- “As a result of the increased incidence of parental divorce,”
O’Grady
Workers, to abuse for political gain. In 2007 miners at the cution. Ms. Kearney tells us, “children wound up having lower levels
and Presi- The USTR’s office has filed site—owned by the Mexican Mexico argues that the of education, lower levels of income, and more marital churn
dent Biden’s re-election team more than 10 complaints conglomerate Grupo Mexico— San Martin labor dispute themselves (both more marriages and more separations), as
is sweating about it. Mr. Bi- against Mexico using this walked off the job. According doesn’t fall under the USMCA compared to similarly situated children who did not live in
den needs Big Labor. But novel labor mechanism. Most to a company representative, because it occurred before places where unilateral divorce laws were in effect.” More-
UAW President Shawn Fain have been remediated they “were protesting safety the agreement was signed in over, Ms. Kearney notes that children living with a steppar-
has warned the president that through company conces- and health conditions and al- November 2018. Further- ent also tend to have worse behavioral outcomes than those
he has to “earn” his mem- sions. But in August Ms. Tai leged some non-compliance more, since the mine doesn’t whose birth parents remained married.
bers’ support. Politico re- used it for the first time to with their collective-bargain- export its mineral production While divorce is common, the spike in the number of sin-
ported last week that the request a dispute-settlement ing agreement negotiated by to the U.S., the use of the la- gle-parent households is mainly driven by an increase in the
union “is withholding its en- panel to defend the interests Los Mineros.” bor mechanism doesn’t apply share of mothers who have never married—particularly
dorsement from Biden over of the Mexican mining union and the production facility among those who are less educated. In 2019, 60% of children
his handling of electric vehi- Los Mineros. would be impossible to sub- whose mothers had a high-school degree (but less than a
cle subsidies.” It’s been 13 months since Trade Representative ject to sanctions. Mexico’s ju- four-year college degree) lived with both parents, “a huge
Mr. Biden may be in a bind the USTR launched consulta- diciary is handling the matter drop from the 83% who did in 1980” and low relative to the
with auto workers. But else- tions regarding Mexico’s dis- Katherine Tai engages according to domestic law. roughly 84% of children of college-educated mothers who
where, in a matter less visible crimination against American in union activism As the White & Case law lived with both parents in 2019. The author also notes signif-
to the American public, he’s oil, gas and renewable inves- firm pointed out in an Aug. icant gaps in family structure according to race: In 2019, 38%
going to great lengths to do tors. Ms. Tai still hasn’t south of the border. 28 post on its website, a of black children lived with married parents, compared with
union bidding. His weapon of found the time to ask for an Mexican labor court ruled on 77% of white children and 88% of Asian children.
choice is Mr. Trump’s U.S.- arbitration panel. But her re- June 14 that Los Mineros is
Mexico-Canada Agreement, or quest for a panel to address Eleven years later more the holder of the collective
USMCA. the Mexican union’s com- than 50% of employees voted bargaining agreement and it Children fare better when they grow up with
The USMCA’s labor chapter plaint comes only two to return to work. They were ordered “Grupo Mexico to both parents—no surprise. But sometimes
includes a tool to punish a months after the issue was led by a coalition calling it- pay back wages and benefits”
production facility that de- raised with Mexico. The rea- self “the United Workers.” and “declare[d] the strike as mothers have no choice but to go it alone.
nies workers the right to col- son is simple: The AFL-CIO The Grupo Mexico represen- concluded.” The company has
lective bargaining or free as- and the United Steelworkers tative told me the company requested a review of the cal-
sociation. Under this “rapid signed the petition Los Mine- improved working conditions culation of wages owed but What is driving these changes? Among other factors, Ms.
response labor mechanism,” ros filed in May with the to ensure safety and also in- not the wider order. Kearney refers to the lack of “marriageable men,” pointing
output of the specific plant USTR. It alleges denial of creased wages to adjust for None of this matters to to a 2019 paper by the economists David Autor, David Dorn
where the violation is worker rights at the San Mar- the many years the workers Ms. Tai. Even if she loses, she and Gordon Hanson, “When Work Disappears: Manufactur-
deemed to have occurred can tin mine in the state of Zaca- were on strike. Since then, can claim she did her best to ing Decline and the Falling Marriage Market Value of Young
be subject to sanctions by tecas. more than two-thirds of the try to turn her office into Men.” The paper analyzes the effect of drops in income for
trading partners. Los Mineros isn’t any old workers have returned to the Mexico’s national labor rela- less-educated men, driven by increased international compe-
Katherine Tai was trade labor organization. In Janu- mine, which is now operating tions board. But it’s a shabby tition in manufacturing, and finds, Ms. Kearney tells us, that
counsel for Democrats on the ary 2022, a Mexican arbitra- normally. way to treat a trade partner. “the trade-induced reduction in men’s relative earnings led
House Ways and Means Com- tion board inside the Minis- The holdouts are led by For anyone paying attention, to lower levels of marriage and a higher share of unmarried
mittee when Mr. Trump was try of Labor ordered the the president of Los Mineros, it’s one more example of the mothers. It also led to an increase in the share of children
trying to get the USMCA union to reimburse members Napoleon Gómez Urrutia, a politicization of her office. living in single-mother households with below-poverty levels
through Congress. Now she’s for the embezzlement of Mexican senator not directly Write to O’[email protected]. of income.” Reintroducing economic opportunities (for in-
stance, through fracking booms) doesn’t seem to reverse this
trend—suggesting an interplay between economic shocks
G
ov. Greg Abbott last PAC to scale up these efforts. has a primary opponent, where Republicans hold 60 of seem to be less than ideal marriage partners,” Ms. Kearney
week said he’s calling Last year 88% of Texas Re- Joanne Shofner, president of 100 seats, balked. emphasizes the importance of “improving the economic po-
the Texas Legislature publican primary voters sup- the Nacogdoches County Re- Ms. Reynolds got involved sition of non-college-educated men so they are more reliable
into special session next ported a nonbinding ballot publican Women. in nine House primary races, marriage partners and fathers.” How does one go about this
month to pass school choice proposition stating: “Texas Republicans in other states ousting several Republican monumental task? Ms. Kearney points to government
for every child. During the parents and guardians should have been united. Arizona incumbents for opposing investments in job training, public and community colleges,
regular legislative session, the have the right to select passed a universal school- choice. As one of them, Den- earnings supplements, and criminal-justice reform.
GOP-controlled Senate handily schools, whether public or choice bill last year with one- nis Bush, put it, “The gover- She also points to the role of media and the need for role
passed a school-choice bill private, for their children, and seat GOP majorities in each nor [was] trying to use [the] models. Her own research shows that “the depictions of the
18-13, with only one Republi- chamber, meaning every Re- election as a referendum for difficulties associated with being a teen mom as shown on
can voting no. publican lawmaker needed to her voucher bill.” Challenger the MTV reality television show ‘16 and Pregnant’ led to a
The GOP-controlled House, Texas lawmakers can show up and vote yes. In Zach Dieken defeated him, decline in rates of teen child-bearing in the U.S.” She also
however, failed to pass the North Carolina this year, all 56% to 24%. calls for “scaling up government and community programs
bill, demonstrating the influ- pass a bill during the Republicans—including one In January, Iowa became that improve outcomes for parents and children from disad-
ence of unions even with the special session—or Democrat who switched to the first state to pass a uni- vantaged backgrounds,” such as nurse visits to new moms
GOP. But Gov. Abbott prom- the GOP—cosponsored a uni- versal school-choice bill in and moms-to-be.
ised political consequences face the voters later. versal school-choice bill, giv- 2023. Ten states, all with Re- Co-parenting is ultimately about more than lightening the
for Republican lawmakers ing them enough votes to publican legislatures, have load. Reflecting on my own marriage, I was reminded of the
who continue to block educa- override an expected veto passed universal school choice simple joys my wife and I have shared with our kids: the day
tion freedom. “There’s an the funding should follow the from Democratic Gov. Roy in the past two years. If Texas we sat on a bench holding hands and laughing as our youn-
easy way to get it done, and student.” That was up nine Cooper. On Friday Mr. Cooper House Republicans are smart, gest son barreled through the park; our recent apple-picking
there’s a hard way. We will points since it was last on the yielded and said he’d let the they’ll take the “easy way” outing; movie nights; Sunday waffles; weekend hikes. These
take it either way—in a spe- ballot, in 2018. An August bill become law. and use the coming special moments weren’t about productivity gains or divvying up
cial session or after an elec- University of Texas poll found What’s unfolding in Texas session to become No. 11. tasks. But they are part of the reason that, I suspect, Ms.
tion,” he declared. that a majority of the state’s is similar to what happened in Kearney’s proposals will be good not only for children but
School choice has become a voters support school choice, Iowa. Gov. Kim Reynolds Mr. DeAngelis is a senior for parents as well.
political winner, as 76% of the including 67% support from fought hard last year for lim- fellow at the American Feder-
candidates supported by my Republicans. Rep. Travis ited private-school choice, and ation for Children and a visit- Mr. Luca is an associate professor of business administra-
organization, the American Clardy—who sent his children her bill easily passed the ing fellow at Stanford Univer- tion at Harvard Business School and co-author of “The
Federation for Children, and to private school and voted state’s GOP-controlled Senate, sity’s Hoover Institution. Power of Experiments.”
.
OPINION
REVIEW & OUTLOOK LETTERS TO THE EDITOR
California Wants to Know Your Emissions Will Putin Sit on the Human Rights Council?
Your editorial “The Irrelevant abuses committed by China, Cuba or
P
rogressives in Sacramento are increas- Sacramento are the state’s biggest emitters of
ingly trying to regulate for all of Amer- hot air. United Nations” (Sept. 20) identifies Pakistan. On the contrary, each sits
the world body’s failure to confront on the council as an elected member.
ica. Now a bill on Gov. Gavin Newsom’s Microsoft and Apple have endorsed the bill,
today’s gravest threats to world Now Russia is running for a seat,
desk would require businesses but they can afford its compli- peace, from the rogue nuclear-weap- in an election to be held Oct. 10 at
from sea to shining sea to re- Sacramento moves ance costs, which aren’t small, ons programs of Iran and North Korea the U.N. General Assembly. If Mos-
port their CO2 emissions. You to enforce CO2 especially since the CO2 re- to Russia’s merciless war on Ukraine. cow’s prior bids are any guide, it has
can check out of California, ports would have to be veri- If the U.N. is ineffectual when it an 80% chance of winning.
but you can’t escape its cli- disclosures nationwide. fied by third parties. A large comes to hard power, it should at When Col. Moammar Gadhafi’s
mate regulation. energy company told the SEC least use its global pulpit to say the Libya was made chair of the former,
California’s Senate this that its climate reporting re- right things. This it did in 1948 by discredited U.N. Human Rights Com-
month passed legislation that would require quired 7,500 to 10,000 employee hours a year adopting the Universal Declaration of mission in 2003, that proved its death
companies with more than $1 billion in annual and as much as $1.35 million annually in fees for Human Rights, which proclaims fun- knell. If Vladimir Putin wins next
revenue that do business in the state to publicly external advisory services. damental freedoms. Words matter. month, while he’s wanted for arrest
Yet the U.N. body mandated to pro- in The Hague for war crimes, its suc-
disclose their CO2 emissions. This would in- Like SEC Chairman Gary Gensler, Democratic
tect these liberties today, the 47-na- cessor body may meet the same fate.
clude the emissions of their suppliers, custom- lawmakers claim their goal is to ensure “consis- tion Human Rights Council, too often HILLEL C. NEUER
ers, contractors and even commuting workers. tency” in CO2 reporting. But California’s disclo- gives brutal dictatorships a free pass. Executive director, U.N. Watch
Companies could get dunned for errors. sure rules would overlay those from the SEC Never once has it condemned serial Geneva, Switzerland
“Doing business” in California is defined as and other voluntary regimes. While the bill in-
having annual sales exceeding $610,395, or structs the state Air Resources Board to struc-
more than $61,040 in property or payroll, in the ture reporting “in a way that minimizes duplica-
state. Almost any medium-sized business with tion of effort,” there’s no guarantee it will.
a single worker in California would have to re- The bill’s main beneficiaries will be CO2 ac-
Rural Broadband Is an Opportunity for America
port its emissions. counting start-ups such as Persefoni AI and Wa- The headline “Broadband for All the long-term viability of funded net-
Comes With Some Sky-High Costs” works. This means avoiding price reg-
California Democrats are one-upping the Bi- tershed. Persefoni says in a public comment to
(Page One, Sept. 6) implies a waste of ulation, which would give recipients a
den Securities and Exchange Commission, the SEC proposal, “to the extent allowable un- taxpayers’ money. But is it? This re- hook to come back later to request
which is expected soon to finalize a rule requir- der its authority, the SEC should encourage pri- minds me of President Dwight Eisen- more government money.
ing public companies to report their CO2 emis- vately held companies to provide climate disclo- hower, who initiated the interstate- Bridging the digital divide requires
sions. The California bill goes further than the sure on par with publicly traded companies.” highway system, connecting east to a fiscally responsible, forward-think-
SEC’s proposed rule since it would also apply You can hear the cash register at Persefoni ring west, north to south. A giant waste of ing broadband-subsidy strategy. That
to private businesses, limited liability compa- from here. taxpayers’ money? Perhaps at the means competitive grants, rigorous
nies, and partnerships. The SEC doesn’t have the legal authority to time. But it was the right vision to evaluations and an eye on long-term
About three-quarters of the estimated 5,300 regulate private companies or CO2 emissions, make America great. Imagine Amer- network sustainability.
companies that would be covered by the bill are which is why Democrats in California are trying ica without it. Likewise, bringing fi- SCOTT WALLSTEN
private. Small businesses that are suppliers, to do it in case Mr. Gensler’s rule is defeated it ber optics to all corners of this coun- President, Technology Policy Institute
try is the right vision to keep Washington
contractors or customers of covered businesses court. Neither the SEC nor the California rule
America great.
might also be compelled to calculate emissions. would have any effect on climate, so their cost WIM SELDERS My guess is that most of the arti-
Farms that sell to wholesalers doing business and complication are pointless. San Diego cle’s interviewees, their neighbors,
in the state could have to calculate how much The U.S. Supreme Court last term all but in- friends and the people who travel
CO2 their livestock and fertilizer generate. vited progressives in Sacramento to reach be- Your article on rural-broadband near or through their towns are af-
Clients of large accounting, legal, insurance yond California’s borders by declining to re- subsidies highlights the vast differ- flicted daily with extraordinarily poor
and financial firms could be ensnared too. strict its power to regulate out-of-state farms ence in cost-effectiveness across fed- cellular-telephone and mobile-broad-
“Know your customer’s CO2 emissions” could in NPPC v. Ross. California’s climate reporting eral programs. The cited $53,000 av- band connectivity. While the federal
soon become the new banking industry mantra. regime could give Justices an opportunity to re- erage cost per connection in the government is busy spending thou-
Government agencies, however, would be ex- consider whether one state can regulate busi- Winnebago Tribe community is the sands on a per-household basis for
empt from reporting even though politicians in nesses in the other 49. standout example, and it reflects a broadband fiber connections, it has
decision to ignore other service op- all but ignored the 81% of rural coun-
tions such as satellite. While not as ties that lack reliable mobile signals
The Children Win in North Carolina high-quality as fiber, satellites would or have no coverage at all.
be available immediately while fiber
could take years.
Whole communities are stranded
in ever-growing cellular “dead zones”
H
appy to report: North Carolina on Fri- Compare Gov. Cooper to state Rep. Tricia Co- Some guidelines can help ensure because governments have all but
day became the tenth state to approve tham, a former Democrat who sends her son to cost-effective grant allocation. First, stopped investing in the small, locally
universal school choice. Democratic private school. Unlike the Governor, she says use competitive mechanisms, like re- owned, cellular-service providers that
Gov. Roy Cooper says he won’t veto the bill that “as a policymaker and a mom” she would verse auctions, to allocate funds. Auc- sew together our country’s vast mo-
passed by the Legislature, no doubt because Re- be a hypocrite if she voted to deny her constitu- tions are unpopular among providers bile network. The chronic underfund-
publicans have enough votes to override. ents the same choice she has. She crossed the because they reduce subsidies. But ing of mobile infrastructure over the
The choice provisions are in the state’s that’s their purpose: to drive down past decade also has resulted in a
aisle to become a Republican in April, giving
subsidies and provide more coverage public-safety crisis for millions of
much-delayed budget, which includes Medicaid the GOP the three-fifths House majority it for the same amount of money. Americans who can’t reliably reach
expansion the Governor favors and tax cuts he needed to override a veto. Second, include independent evalua- 911-emergency services or lack access
opposes. North Carolina created the Opportu- Parents want better education choices for tion. These would verify project com- to mobile 5G networks that would
nity Scholarship program in 2013, but this bud- their children. The GOP favors what voters pletion and whether public investments close the digital gap.
get increases funding from $176.5 million to want, but Republicans need to stand up for fund otherwise unviable networks. SLAYTON S. STEWART
$520.5 million by the 2032-33 fiscal year. It also their principles and stick together. They would Third, balance the desire to keep CEO, Carolina West Wireless
opens up eligibility to all North Carolinians, do well to look at Iowa, where Gov. Kim Reyn- subsidies low with the need to ensure Wilkesboro, N.C.
though the amount of the scholarship declines olds in last year’s primaries helped oust Repub-
as income rises. licans who had blocked school choice. This year
The fight illustrated both the importance of the Iowa Legislature passed a universal school Covid-Era Outdoor Dining Should Stick Around
Republican unity and the vulnerabilities of choice measure.
Ivan Png’s op-ed “Free Riders on door restaurant, with all its ameni-
Democrats who take orders from the teachers “Twenty-two states have trifectas, where the Sidewalk” (Sept. 11) makes little ties, especially when its utility is
union and ignore parents. In May, when legisla- Republicans hold the governorship and both sense when a stated public-policy weather-dependent and it operates
tors signaled their intentions, Gov. Cooper re- branches of the Legislature,” says Corey DeAn- goal in America is to create more vi- for fewer hours.
leased a video declaring a “state of emergency.” gelis of the American Federation for Children. brant and inclusive outdoor dining In New York, outdoor dining is an
“It’s clear,” he said, “that the Republican legis- “If all legislators with ‘Rs’ next to their names cultures than cities like New York had economic boon, saving thousands of
lature is aiming to choke the life out of public voted like Republicans and listened to their before the pandemic. restaurants, generating tax revenue
education.” constituents, we’d have at least twice as many New York’s high fees were a major and fostering economic activity. Its
The emergency stunt did nothing but make states with universal school choice.” factor excluding many restaurants valuation shouldn’t be based on the
the Governor look weak. It also highlighted his North Carolina’s vote is a big victory—for from having outdoor dining before market valuation of private indoor
double standard. Mr. Cooper was happy to parents who want better schools for their chil- Covid-19 hit. The concrete outside a commercial real estate, which often is
restaurant shouldn’t compel the same already too high, shuttering small
choose private school for one of his daughters. dren and the Republicans who fought to pro-
real-estate value as a fully built in- businesses.
But when the legislators were ready to give vide that choice. On to the next state, which Our city had nearly 8,000 restau-
North Carolinians the same choice, suddenly it should be Texas if the GOP can show the same rant streeteries at the peak, using
was an attack on public schools. steel it did in Raleigh. Facts and Fiction About about 0.5% of the three million park-
ing spots. Many locations were in
Shaken-Baby Syndrome
Florida Takes the Classic Learning Test David Wilson is correct (“Shaken-
Baby Syndrome and Grisham’s Inno-
nonmetered parking spaces that pre-
viously generated no money for the
city. Those that removed a metered
F
lorida’s state university system will soning, including this math puzzle: “If y^z=x and cence Project,” Letters, Sept. 15) that spot offset the loss of revenue with
now accept the Classic Learning Test in 8z=xy, then what is x+y+z if y is half the value shaken-baby syndrome is a well-ac- more active economic use.
college admissions, after the board of cepted diagnosis. But John Grisham, ANDREW RIGIE
of z?” No calculators allowed.
whose op-ed “Texas May Execute a Executive director
governors voted this month to approve the CLT The CLT was launched in 2015, and its “author Man Based on a Scrapped Medical New York City Hospitality Alliance
as an alternative to the national testing bank” ranges from Homer to Martin Luther King, Theory” (Sept. 8) Dr. Wilson criti-
duopoly of the SAT and ACT. Whether the clas- Jr. Its test scores are accepted by more than 250 cizes, is also correct that one should
sic test will catch on is anybody’s guess, but schools, the website says, many of them smaller be careful about the diagnosis. Customer Is Always Right
credit to its creators, and Florida, for giving it mission-oriented institutions, such as Hillsdale The “triad of symptoms” used in
James Piereson and Naomi
the college try. College or Franciscan University of Steubenville. the past by doctors isn’t proof of
Schaefer Riley’s op-ed “West Virginia
The media coverage has been highly amus- The University of Florida and Florida State rep- shaken-baby syndrome. There is a
Budget Cuts Are a Taste of Higher
ing. “The College Board, which oversees the resent a step into the wider world, and perhaps wider set of possibilities, including
Ed’s Future” (Sept. 15) concludes that
SAT, said there is little evidence proving the other systems will follow. the genetic diseases glutaric aciduria
“the administrators who oversee stu-
CLT can adequately assess college prepared- The countervailing pressure in progressive and Menkes disease. There are many
dent life and ‘wellness’ are now part
examples of parents of such children
ness,” NPR reported. Big news: Coke thinks jurisdictions is for colleges to end testing alto- of the core staff of universities, ex-
being falsely accused of child abuse.
Pepsi doesn’t adequately quench thirst. Col- gether in favor of “holistic” admissions. This is Shaken-baby syndrome is real, but
pected by students,” noting that “the
leges will surely figure out how to benchmark especially true since the Supreme Court struck customer is always right.” The ulti-
doctors and lawyers need to keep in
the CLT as it comes into use, and its makers will down racial preferences. Eliminating test scores mate customer, however, is the real
mind that there are a variety of dis-
probably adjust after getting more data on stu- is a way to put admissions behind a veil of sub- world, which students will encounter
eases that can be confused with child
after graduation. Schools that ignore
dent outcomes. jective criteria. Yet a few years ago the Univer- abuse. We need to make this knowl-
it do so at their own peril.
Inside Higher Ed said critics argue the CLT sity of California released a 225-page faculty re- edge available to protect both chil-
ALLEN NIXON
“places too heavy an emphasis on biblical pas- port that found test scores were predictive of dren and parents.
Farmington, Conn.
sages and traditional Western thought,” includ- college success and helped to identify promising MICHAEL SEGAL, M.D., PH.D.
ing texts from “largely white men with ques- underprivileged students. Chestnut Hill, Mass.
tionable positions on race, LGBTQ+ rights and Testing remains useful, in other words. At the
multiculturalism.” same time, however, the College Board has accu- Pepper ...
Who needs Plato, that bigot? This is the atti- mulated a worrisome amount of power, in partic-
Two Mice Walk Into a Bar And Salt
tude C.S. Lewis once called chronological snob- ular over public high-school curricula via its Ad- Regarding Allysia Finley’s “Day-
THE WALL STREET JOURNAL
bery, “the uncritical acceptance of the intellec- vanced Placement program. Florida recently Quil, Covid Vaccine Boosters and FDA
tual climate common to our own age and the rejected a proposed AP class in African-Ameri- Science” (Life Science, Sept. 18):
Mouse No. 1: Are you getting the
assumption that whatever has gone out of date can Studies because a portion of it was infused
Covid vaccine booster?
is on that account discredited.” with politics and critical-race theory. The College Mouse No. 2: No, they aren’t done
The CLT represents the opposite, and readers Board then deceived the public about how it in- testing it on humans.
can flip through a sample test to get a sense of tended to re-edit the course. BOB SPEAR, M.D.
it. The first section, verbal reasoning, features Competition is one answer to such problems. Coronado, Calif.
questions that measure comprehension of para- The CLT, to draw a classic comparison, is a Da-
graphs from Aristotle, Benjamin Franklin, John vid taking on a Goliath. But the future of K-12
Letters intended for publication should
Paul II and others. education is choice, from charter schools to be emailed to [email protected]. Please
Then comes grammar and writing, where learning pods to vouchers for all manner of include your city, state and telephone
students are asked to choose from options that models, including private religious schools. number. All letters are subject to
“either correct an error or suggest an improve- Why should every student with every curricu- editing, and unpublished letters cannot “Are you totally here
be acknowledged.
ment in the passage.” Last is quantitative rea- lum be locked into the SAT or ACT? or multi-tasking?”
.
OPINION
N
o member of Congress has
ever had his taxpayer-
ery and fraud. At the time, the Office
of Personnel Management (OPM) told
us that “Fattah has not exhausted his
On Your
funded pension stripped
for corruption crimes com-
mitted while holding pub-
appeal rights,” and that the office
would “wait until any appellate activ-
ity has concluded before taking ap-
Portfolio
lic office. That could change, as the propriate action.”
Manhattan U.S. Attorney’s office un- Mr. Fattah’s prison sentence was By Warren Stephens
sealed an indictment Friday charging supposed to run through Aug. 1, And Paul C. Reilly
Sen. Bob Menendez (D., N.J.) with ac- 2024, but he was released on June 8,
A
cepting hundreds of thousands of dol- 2020. The Bureau of Prisons inmate s an American, you have a
lars in bribes from three businessmen. locator says he is under the custody right to privacy—unless you
Mr. Menendez said in a statement of a residential re-entry management own stock. The Securities
F
nowhere—no offense to the 28,173 irst it was the communicator cause of Dayton’s connection to Although it has Lake Erie on its with a three-part mission: to pro-
inhabitants of Wasco—that may from “Star Trek.” Now it’s the Wilbur and Orville Wright, the frater- northern border, something about tect investors; to maintain fair, or-
never be completed. flying cars from “The Jetsons.” nal pioneers of aviation who grew up the largely landlocked state of Ohio derly and efficient markets; and to
The lawsuit largely launders un- Little by little, the fantasy gadgets there and who in 1909 opened the seems to drive its natives to seek the facilitate capital formation. It
substantiated claims from green from the TV shows of my youth have Wright Co. factory in their hometown freedom of the air. doesn’t have the legal authority to
groups that have been aired in the become the reality of my adulthood. to make their flying machines. The Like the Wright Brothers and the supersede the Constitution and spy
liberal press for years. But the state On Monday, Joby Aviation said it Air Force Research Laboratory in the Ohio astronauts, Joby is following the on ordinary Americans’ portfolios.
stands a chance of prevailing since would locate its first large-scale fac- Wright-Patterson Air Force Base is a example of another entrepreneur who Letting it seize that authority
the lawsuit will be heard in state tory on a 140-acre site at Dayton In- stone’s throw away. In case anyone felt trapped by his surroundings. Dae- anyway could lead to the addition
court, and appeals would go to Cali- ternational Airport in Ohio. Joby is missed the connection, Joby made its dalus, the mythical ancient Greek in- of a fourth, sinister mission part:
fornia’s Supreme Court, six of whose one of several companies developing announcement from Hawthorn Hill, ventor and architect of the elaborate to judge investor virtue. The CAT
justices were appointed by Demo- an electric vertical takeoff and land- Orville Wright’s Dayton mansion. Pro- labyrinth that trapped the Minotaur, will give the SEC a window into
cratic governors and uniformly rule ing aircraft that can carry passengers duction is slated to begin in 2025, and was antiquity’s Elon Musk. Impris- the core values of every American
for the left. and freight. Joby says the facility will be able to oned by King Minos on the island of investor. Those values span the
The apparent impetus for the But Joby, which became a publicly produce 500 aircraft a year. The vehi- Crete, Daedalus soon realized there political spectrum. As political ac-
lawsuit—besides perhaps Mr. traded company in 2021, is headquar- cles will be designed for four passen- was only one way out. As Ovid tells tivism plays a larger role in in-
gers and a pilot and capable of travel- the story in book eight of his epic vesting and regulatory agendas,
ing 200 miles an hour. “Metamorphoses,” Daedalus said of will investors whose holdings
Ohio and aviation didn’t end with his captor-king: “Let him block the don’t reflect the values or beliefs
PUBLISHED SINCE 1889 BY DOW JONES & COMPANY the Wright brothers. Neil Armstrong, lands and waves—but surely the sky of those in power have reason to
Rupert Murdoch Robert Thomson John Glenn, Apollo 13 survivor James is open. We’ll go that way.” (“Terras fear retribution?
Executive Chairman, News Corp Chief Executive Officer, News Corp Lovell and Judith Resnik, who per- licet . . . et undas / obstruat, at cae- Americans have always had a
Emma Tucker Almar Latour ished in the 1986 Challenger disaster, lum certe patet; ibimus illac.”) right to privacy and protection
Editor in Chief Chief Executive Officer and Publisher
are among 25 astronauts born in With that epiphany, he began his from government overreach, thanks
Liz Harris, Managing Editor DOW JONES MANAGEMENT: Ohio. So is my friend Greg Harbaugh, creation of the fateful wax-and-feath- to our Bill of Rights and hundreds
Charles Forelle, Deputy Editor in Chief Daniel Bernard, Chief Experience Officer;
a Willoughby native, who flew four ers flying contraption which, al- of years of legal precedents. This
Elena Cherney, News; Chip Cummins, Newswires; Mae M. Cheng, EVP, General Manager,
Andrew Dowell, Asia; Brent Jones, Culture, Leadership; David Cho, Barron’s Editor in Chief; multiday space-shuttle missions, in- though a success—Daedalus escaped legacy has motivated Americans to
Training & Outreach; Alex Martin, Print & Jason P. Conti, General Counsel, Chief Compliance cluding the first to dock with the Rus- Crete—tragically claimed the life of resist any form of personal surveil-
Writing; Michael W. Miller, Features & Weekend; Officer; Dianne DeSevo, Chief People Officer; sian space station Mir in 1995. his son Icarus. lance. Our customers have a right
Frank Filippo, Chief Transformation Officer;
Emma Moody, Standards; Prabha Natarajan, I met Greg and his wife, Carol, in From ancient Crete to 21st-cen- to invest without fear—and with-
Professional Products; Philana Patterson, Audio; David Martin, Chief Revenue Officer, Business
Intelligence; Elizabeth O’Melia, Chief Financial 2011, when I began a two-year stint tury Dayton, flights of fancy have be- out the SEC peering into their
Matthew Rose, Enterprise; Michael Siconolfi,
Investigations; Amanda Wills, Video Officer; Dan Shar, EVP, General Manager, playing piano in the band at the come flights of fact. Here’s a possible portfolios whenever it feels like it.
Wealth & Investing; Josh Stinchcomb, EVP & Unity church where Carol was pastor. name for one of Joby’s first models:
Paul A. Gigot Chief Revenue Officer, WSJ | Barron’s Group;
Editor of the Editorial Page When I first met Greg, I had difficulty Daedalus. Mr. Stephens is chairman, presi-
Sherry Weiss, Chief Marketing Officer
Gerard Baker, Editor at Large
EDITORIAL AND CORPORATE HEADQUARTERS:
believing this low-key Midwesterner dent and CEO of Stephens Inc. Mr.
1211 Avenue of the Americas, New York, N.Y., 10036 had spent more than 800 hours in Mr. Opelka is a musical-theater Reilly is chairman of the American
Telephone 1-800-DOWJONES outer space. (Still, I have a feeling he composer-lyricist. Securities Association.
.
©2023 Dow Jones & Co, Inc. All rights reserved. 6DJ0103
.
Meta to Use
Chatbots in
AI-Fueled
FROM LEFT: SEAN TEEGARDEN/KNOTT’S BERRY FARM; JOSHUA SUDOCK/ASSOCIATED PRESS
Youth Push
Meta Platforms is planning
to release artificial intelli-
gence chatbots as soon as this
week with distinct personali-
ties across its social-media
apps as a way to attract young
users, according to people fa-
miliar with the matter.
By Salvador
Rodriguez,
Deepa Seetharaman
and Aaron Tilley
The embrace of Halloween has become key to the profits of theme parks like Knott’s Berry Farm and Disney California Adventure Park. These generative AI bots
are being tested internally by
Theme Parks
Share-price and index performance over the past six months employees, and the company
is expected to announce the
20%
first of these AI agents at the
Meta Connect conference,
Look to Halloween
which starts Wednesday. The
10
bots are meant to be used as a
S&P 500 means to drive engagement
with users, although some of
To Spur Rebound
them might also have produc-
0 tivity-related skills such as the
Six Flags
Entertainment
ability to help with coding or
other tasks.
Going after younger users
BY WILL FEUER prove critical, after a cold, wet -10 has been a priority for Meta
spring and scorching summer Cedar Fair with the emergence of TikTok,
Theme-park operators are heat waves dashed hopes for a which overtook Instagram in
SeaWorld
pinning their hopes on a block- booming year. Attendance at Entertainment
popularity among teenagers in
buster fall season, betting that the three major regional park -20 the past couple of years. This
splashy Halloween and Okto- chains is still below prepan- April 2023 May June July Aug. Sept. shift prompted Meta Chief Ex-
berfest events can make up for demic levels, even as other ecutive Mark Zuckerberg in
a summer season hurt by ex- travel sectors have fully recov- Park attendance, quarterly October 2021 to say the com-
treme weather. ered. SIX FLAGS CEDAR FAIR SEAWORLD pany would retool its “teams
Dorney Park-owner Cedar “I have seen through the 14 million to make serving young adults
Fair, Six Flags Entertainment years where Halloween has 12 their North Star rather than
and SeaWorld Entertainment made or broken a season,” said optimizing for the larger num-
are looking to lure customers Dennis Speigel, a longtime 10 2Q 2023 ber of older people.”
this fall by tapping into grow- theme-park consultant. This 7.1M 7.4M 6.1M With the rise of large-lan-
8
ing demand for Halloween fes- year, Speigel said, some parks guage-model technology since
tivities. Other parks, including began teasing Halloween 6 the launch of ChatGPT last No-
Disney, rolled out themed events as early as June. “They vember, Meta has also refo-
events earlier than ever this knew they needed to start 4 cused the work of its AI divi-
year. In coming weeks, haunted thinking ahead and hanging 2
sions to harness the capabilities
houses and fleets of ghoulish their hat on Halloween.” of generative AI for application
actors will take over theme Shares of regional theme- 0 in the company’s various apps
parks across the country. park operators are lagging be- 2019 ’20 ’21 ’22 ’23 2019 ’20 ’21 ’22 ’23 2019 ’20 ’21 ’22 ’ 23 and the metaverse. Now, Meta
The Halloween season and hind the S&P 500 this year, as Note: Cedar Fair’s amusement-park operations were suspended in the first quarter of 2021.
is hoping these Gen AI Perso-
weeks leading up to it will Please turn to page B2 Sources: FactSet (performance); the companies (attendance) Please turn to page B4
its continued success will hinge Vuitton totes to school. Lulu- $100M San Francisco
on its ability to sustain the in- lemon is more within reach but 20
terest of young shoppers with- still signals membership in an 5
out turning off older ones, and exclusive club. 1 San Francisco Centre CHINATOWN ge
rid
fend off new entrants like Alo “It’s a status symbol,” said Si- 2 600 California Street yB U.S.
Ba
Yoga and Vuori. erra Marelia, a 20-year-old 3 225 Bush Street 2 10
“All my friends at school sophomore at the University of HEARD ON THE UNION
6
wear Lululemon,” said Hannah Pennsylvania who started wear- 4 525 Market Street
STREET SQUARE 3 4 7
McMullan, a seventh-grader ing Lululemon in middle school. 5 101 California Street
who lives in Chappaqua, N.Y. Founded in 1998 by Canadian
Lessons for investors
6 One Market Plaza
“There’s no reason to think it’s businessman Chip Wilson, Lulu- from a financial crisis 0
7 211 Main Street 1
not cool because older people lemon tapped into communities 25 years ago. B10 2010 ’15 ’20
wear it.” Please turn to page B2 Sources: WSJ analysis of S&P Global data (properties); CBRE Econometric Advisors (vacancy rates)
.
Both Wear
Hegarty, Shane........................R8
$8.11B brands that straddle the mother-
Agarwal, Nikhil.........................R5 Reichert, Paul............................R8
Austin, Christopher..............R8 Hesketh, John-Claude........B4 Ridker, Paul.................................R6 12% $8 billion
Hill, Greg........................................R2 Women daughter divide, said Leonhardt,
Au Yeung, Joshua.................R4 Roberts, Michael.....................R8
I Rothschild, Lynn.....................R8 who lives in New York City.
B
lif., now owned by Cedar Fair, with its first-ever “Scream when the $558 million mort-
introduced “Knott’s Scary Break.” The chain’s bigger Continued from page B1 gage was issued.
Farm” to drum up more fall parks are rolling out new Owners are on the hook for In June, the complex’s
business. Now, most U.S. haunted houses this fall based nearly $12 billion of office owners, Unibail-Rodamco-
amusement parks, and even on popular horror movies like bonds, according to S&P Westfield and Brookfield
some in other countries, mark “The Conjuring” and “Saw.” Global. Properties, stopped paying
the holiday with their own fes- The child-friendly “Boo Fest” As landlords watch their the mortgage. By July, the
tivities. Earlier this year, Uni- features corn mazes and trick loans mature, they will have a Westfield logo was removed,
versal said it plans to open a or treating. “These events play difficult time paying them off leaving traces spelling out
year-round horror-focused a vital role in the company’s without willing lenders. Banks the name.
park in Las Vegas, a sign of strategy,” Six Flags said. are already pulling back from In August, Nordstrom
ambitions to offer scarecentric Parks also seize on the fes- making loans to office land- closed its store. Developers The San Francisco office market has shown signs of life, but a
events beyond Halloween. tivities to get a jump on selling lords, and commercial mort- are pitching plans to replace wave of maturing loans threatens to extend the turmoil.
The expected fall bump next-year season passes. Six gage-backed security issuance the mall with a soccer sta-
comes with challenges. Kids Flags recently marketed dis- plummeted this year. dium.
are back in school and their counts of up to 70% on 2024 While the city’s office mar- Westfield cited declines in
fall schedules become packed. season passes, which also in- ket recently showed signs of sales, occupancy and foot
Apple picking, leaf peeping and clude admission to Fright Fest life with sales of properties re- traffic as reasons for trans-
other fall activities also com- and its Oktoberfest parties. At suming at much lower valua- ferring the property back to
pete for families’ leisure time. the chain’s park in Arlington, tions, a wave of maturing the lender.
Hurricane season threatens to Texas, the highest-grade 2024 loans already in distress Higher interest rates have
disrupt the period, especially season pass was on sale for threatens to extend the city’s hit real-estate values. The in-
in Florida and Texas. In late $110 a person, down from economic turmoil. vestment firm Pacific Invest-
summer, Hurricane Idalia bat- $170. About half of the retail ment Management Co.,
tered Florida and other parts “The companies have just stores at Union Square, the known for its bond funds, got
of the Southeast, while tropical been incredibly aggressive city’s downtown shopping dis- a double whammy at 650 Cal-
storm Hilary posed a rare with their sale passes for the trict, have closed, and govern- ifornia Street.
threat to Southern California next year,” Deutsche Bank’s ment revenue has declined. Tenants include the buy
as it approached land. Woronka said. “It’s not just Ridership last month on Bay now, pay later lender Affirm
Still, fall events have be- about what they’re going to Area Rapid Transit was down Holdings, which cut 19% of
come moneymakers. Across Six spend for Oktoberfest or Hal- 61% compared with 2019. its workforce and is thinking
Flags, SeaWorld and Cedar loween. It’s really, ‘Can we also The glittering dome above about abandoning its lease.
Fair, the fourth quarter, which get the pass?’.” Market Street is one of the Higher rates, wrote Chief Ex-
runs from the start of October Natalie Parrish, a 35-year- last remaining structures from ecutive Max Levchin in a let-
through the end of the year, old chemist from Greenwood, a century-old building that ter to staff, “dampened con-
has become a bigger source of S.C., typically skips Halloween was replaced by a shopping sumer spending and
annual revenue over the past festivities at the Carowinds mall, the San Francisco Cen- increased Affirm’s cost of
decade. In 2019, Cedar Fair park in Charlotte, N.C. A recent tre. borrowing dramatically.”
generated more than 17% of its visit to the park with her
annual sales in the fourth daughters, ages 10 and 16, per-
quarter, up from 12% in 2013.
Beyond driving traffic, many
suaded them to plan a return
trip for October, after they saw
The Trial of Crypto’s Golden Boy
parks cash in by selling sepa- decorations for the “SCarow-
rate tickets for day- and night- inds” event going up. Admis-
time Halloween events. Many sion is included with the
of the evening events have also roughly $300 they spent on
become more adult-oriented, season passes for next year.
said Chris Woronka, an analyst “It looks like it’s going to be
at Deutsche Bank. That trans- really fun,” Parrish said. “And
STEPHANIE KEITH/BLOOMBERG NEWS
BUSINESS NEWS
Usher Headlines Show
At Super Bowl Halftime
Ford’s Canada Workers Back Deal
BY NORA ECKERT and Stellantis. UAW President
Shawn Fain said union negoti-
The union representing ators had made more progress
Ford Motor’s auto-factory with Ford than the other two
workers in Canada on Sunday companies.
said it secured double-digit Negotiators for the UAW
wage increases and improved and companies were expected
pensions in its labor pact with to bargain over the weekend.
the automaker. More than 18,000 workers are
Unifor, which represents on strike at the Detroit auto-
about 5,600 Ford workers makers’ facilities following
across facilities in Canada, Friday’s escalation, in which
outlined terms of the deal it workers walked off the job at
CHRIS HELGREN/REUTERS
reached last week with the dozens of parts-distribution
U.S. automaker. facilities across 20 states.
The Canadian union said In Canada, Unifor National
54% of its Ford members President Lana Payne called
voted in favor of the new the new labor deal excep-
three-year contract, ratifying A Ford plant in Oakville, Ont. A 15% wage rise is on the table. tional. Unifor’s temporary
the agreement. agreement improved retire-
Workers would receive a Ford’s contract talks in multaneously, whereas Unifor ment security for workers by
15% general wage increase Canada have been running focused on reaching a deal enhancing its pension plans, it
MATT SAYLES/ASSOCIATED PRESS
during the contract—including parallel to its negotiations with Ford first, intending to said. It also upped retiree
a 10% bump in the first year, with the United Auto Workers use that agreement as a tem- healthcare benefits.
plus cost-of-living adjust- in the U.S. The American plate for the other two. Unifor workers will also re-
ments, Unifor said, calling it union has been bargaining On Friday, the UAW spared ceive quarterly cost-of-living
the largest negotiated wage in- with Ford, General Motors Ford from further strikes as it adjustments, their first since
crease in the union’s history. and Jeep maker Stellantis si- called more walkouts at GM 2008.
WHERE
else they’ve seen from me tion Sunday with an Insta-
before,” the eight-time gram video featuring reality
Grammy Award winner said star and entrepreneur Kim
in a statement. Kardashian, who interrupts
RISK MEETS
Apple Music became the him in the studio with a
sponsor of the popular half- phone call to let him know he
time show in 2022 after the got the gig.
NFL signed a multiyear deal “Who should I send my
OPPORTUNITY
with the tech giant’s music ticket request to?” Kar-
streaming service, replacing dashian asks. UNCERTAINTY
longtime sponsor PepsiCo. “I’m going to call you
Usher, who has been a star back,” Usher replies.
since the 2004 release of the —Ginger Adams Otis
Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally
WSJ’s Take On the Week podcast looks at deposited and profit you might have made. This communication is not a recommendation or offer to
sneaker giant Nike, which is expected to
report earnings this week. Plus: Paris Fashion buy, sell or retain any specific investment or service. Copyright ©2021 CME Group Inc. All rights reserved.
Week and what’s ahead for luxury brands.
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TECHNOLOGY WSJ.com/Tech
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JEFF CHIU/ASSOCIATED PRESS
109%
at their [im- comprise the
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and say, ‘We that includes
don’t need as- Aggregate funding the largest Lon-
high returns,’ ” don-listed busi-
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REBECCA BLACKWELL/ASSOCIATED PRESS
MARKETS DIGEST
Dow Jones Industrial Average S&P 500 Index New to the Market
Last Year ago Last Year ago
33963.84 t 654.40, or 1.89% last week Trailing P/E ratio 24.59 17.42 4320.06 t 130.26, or 2.93% last week Trailing P/E ratio * 20.05 18.09 Public Offerings of Stock
High, low, open and close for each of P/E estimate * 18.63 15.77 High, low, open and close for each of P/E estimate * 19.86 16.42
the past 52 weeks Dividend yield 2.13 2.40 the past 52 weeks Dividend yield * 1.59 1.79 IPOs in the U.S. Market
All-time high 36799.65, 01/04/22 All-time high 4796.56, 01/03/22
Initial public offerings of stock expected this week; might include some
offerings, U.S. and foreign, open to institutional investors only via the
Current divisor 0.15172752595384 Rule 144a market; deal amounts are for the U.S. market only
35100 4550 Symbol/ Pricing
Expected primary Shares Range($)
pricing date Filed Issuer/business exchange (mil.) Low/High Bookrunner(s)
33800 4350 9/30 3/21 J-Star Holding YMAT 2.5 4.00/ Maxim Grp,
2022 Develop and Nq 5.00 Freedom Capital
commercialize the Markets
200-day technology on carbon
reinforcement and resin
moving average 32500 4150 systems.
Lockup Expirations
Week's high 31200 3950
65-day moving average Below, companies whose officers and other insiders will become eligible
DOWN UP 200-day moving average to sell shares in their newly public companies for the first time. Such
Monday's open Friday's close
t
Latest Week 52-Week % chg t 496.53, or -3.62% Davis Commodities 5.05 26.3 ... SRM Entertainment 2.10 –57.9 –57.8
High Low Close Net chg % chg Low Close (l) High %chg YTD 3-yr. ann. DTCK Sept. 19/$4.00 SRM Aug. 15/$5.00
Dow Jones
last week
Instacart (Maplebear) 30.00 ... –11.0 LQR House 0.54 –89.3 –86.2
Industrial Average 34776.28 33947.24 33963.84 -654.40 -1.89 28725.51 • 35630.68 14.8 2.5 7.6 CART Sept. 19/$30.00 LQR Aug. 10/$5.00
Transportation Avg 15371.40 14958.55 14987.92 -351.51 -2.29 11999.40 • 16695.32 23.6 11.9 10.1
13750
Neumora Therapeutics 11.03 –35.1 –32.1 NeurAxis 3.35 –44.2 –44.2
Utility Average 896.30 867.62 871.27 -20.86 -2.34 838.99 • 1002.11 -11.0 -9.9 2.9
NMRA Sept. 15/$17.00 NRXS Aug. 9/$6.00
9.0 –18.3 –48.4 –48.9
Total Stock Market 44497.12 42990.19 43019.57 -1346.20 -3.03 36056.21 • 45969.67 16.0 11.7 8.3
RayzeBio
RYZB Sept. 15/$18.00
19.62 Fitell
FTEL Aug. 8/$5.00
2.58
Barron's 400 977.86 954.17 954.29 -25.31 -2.58 825.73 • 1036.97 13.8 3.7 10.7 13550
SIMPPLE 4.83 –8.0 –1.4 MIRA Pharmaceuticals 4.41 –37.0 –40.6
Nasdaq Stock Market SPPL Sept. 13/$5.25 MIRA Aug. 3/$7.00
13350 Courtside Group 2.05 –74.4 –53.3 Cheetah Net Supply Chain Service 1.92 –52.0 –72.2
Nasdaq Composite 13751.28 13200.64 13211.81 -496.53 -3.62 10213.29 • 14358.02 21.6 26.2 6.4 PODC Sept. 8/$8.00 CTNT Aug. 1/$4.00
Nasdaq-100 15268.96 14686.84 14701.10 -501.30 -3.30 10679.34 • 15841.35 30.0 34.4 9.5 Solowin Holdings 3.70 –7.5 –39.1 Hanryu Holdings 5.10 –49.0 –34.6
13150 SWIN Sept. 7/$4.00 HRYU Aug. 1/$10.00
S&P
15 18 19 20 21 22 Inspire Veterinary Partners 1.63 –59.3 –46.9 SharkNinja 43.78 45.7 3.5
500 Index 4466.36 4316.49 4320.06 -130.26 -2.93 3577.03 • 4588.96 17.0 12.5 9.2 September IVP Aug. 30/$4.00 SN July 31/$30.05
MidCap 400 2581.78 2495.04 2495.51 -71.82 -2.80 2203.53 • 2728.44 11.4 2.7 10.8 DJ US TSM
Sources: Dow Jones Market Data; FactSet
SmallCap 600 1188.37 1146.37 1146.45 -39.95 -3.37 1064.45 • 1315.82 6.1 -1.0 10.7
t 1346.20, or -3.03%
Other Indexes last week Public and Private Borrowing
Russell 2000 1847.71 1776.50 1776.50 -70.53 -3.82 1655.88 • 2003.18 5.8 0.9 5.9 Treasurys
NYSE Composite 16029.81 15561.79 15569.51 -404.17 -2.53 13472.18 • 16427.29 12.8 2.5 7.3
Monday, September 25 Wednesday, September 27
Value Line 557.91 539.62 539.67 -16.97 -3.05 491.56 • 606.49 7.6 0.6 5.7 44300
NYSE Arca Biotech 5183.08 5010.06 5011.62 -171.47 -3.31 4390.11 • 5644.5 11.9 -5.1 -1.7 Auction of 13 and 26 week bills; Auction of 17 week bill;
announced on September 21; settles on September 28announced on September 26; settles on October 3
NYSE Arca Pharma 921.62 896.07 896.62 -18.73 -2.05 737.84 • 925.61 19.9 3.3 11.0
43800
KBW Bank 82.35 78.45 78.51 -3.81 -4.63 71.96 • 115.1 -20.6 -22.2 3.1 Auction of 5 year note;
PHLX§ Gold/Silver 119.65 114.52 114.58 -4.09 -3.45 91.40 • 144.37 22.1 -5.2 -7.7 announced on September 21; settles on October 2
PHLX§ Oil Service 98.59 92.82 93.33 -3.633 -3.75 56.08 • 98.76 61.9 11.3 43.6 43300
Tuesday, September 26 Thursday, September 28
PHLX§ Semiconductor 3504.03 3337.86 3365.29 -111.10 -3.20 2162.32 • 3861.63 39.7 32.9 15.6
Auction of 2 year note; Auction of 4 and 8 week bills;
Cboe Volatility 17.54 13.57 17.20 3.41 24.73 12.82 • 33.63 -42.5 -20.6 -13.8 42800 announced on September 21; settles on October 2announced on September 26; settles on October 3
15 18 19 20 21 22
Nasdaq PHLX Sources: FactSet; Dow Jones Market Data September Auction of 7 year note;
announced on September 21; settles on October 2
CLOSED-END FUNDS
Listed are the 300 largest closed-end funds as 52 wk Prem12 Mo Prem12 Mo 52 wk Prem12 Mo
measured by assets. Closed-end funds sell a limited Prem Ttl Fund (SYM) NAV Close /Disc Yld Fund (SYM) NAV Close /Disc Yld Prem Ttl Fund (SYM) NAV Close /Disc Yld
number of shares and invest the proceeds in securities. Fund (SYM) NAV Close /Disc Ret Fund (SYM) NAV Close /Disc Ret
Unlike open-end funds, closed-ends generally do not Apollo Senior Floating AFT 15.11 13.53 -10.4 10.1 BR MuniYield Fd MYD 11.37 9.75 -14.2 4.7 Nomura Alt Inc;I 10.22 NA NA NS
buy their shares back from investors who wish to cash NuvDow30DynOverwrite DIAX 15.34 13.81 -10.0 6.6 BR Debt Strategy DSU 10.79 10.26 -4.9 9.2 BR MuniYield Qlty MQY 12.43 10.74 -13.6 4.9 GS Real Est Div Inc:C 9.13 NA NA -6.4 OFS Credit Company OCCI NA 6.67 NA 26.8
in their holdings. Instead, fund shares trade on a stock
exchange. NA signifies that the information is not NuvCorEqAlpha JCE 12.53 12.17 -2.9 17.5 BR F/R Inc Str FRA 13.25 12.64 -4.6 9.2 BR MuniYld Qlty2 MQT 11.01 9.55 -13.3 4.7 GS Real Est Div Inc:I 9.63 NA NA -5.4 Yieldstreet Prism NA NA NA 8.5
available or not applicable. NS signifies funds not in NuveenNasdaq100DynOv QQQX 22.97 21.73 -5.4 12.1 BlackRock Floatng Rt Inc BGT 12.87 12.09 -6.1 9.3 BR MuniYld Qly 3 MYI 11.75 10.06 -14.4 4.7 GS Real Est Div Inc:L 9.15 NA NA -6.1 High Yield Bond Funds
existence for the entire period. 12 month yield is GS Real Est Div Inc:P 9.63 NA NA -5.4
computed by dividing income dividends paid (during
Nuv Real Est JRS 7.78 6.80 -12.6 -4.7 BS SFR 2027 T BSL 14.66 13.29 -9.3 9.1 BNY Mellon Muni Bd Infra DMB 11.16 10.09 -9.6 4.7 Apollo Diversified Cd:A 21.68 NA NA 8.3
the previous 12 months for periods ending at month- NuvS&P500DynOvFd SPXX 15.55 14.70 -5.5 4.1 BS St Cr 2027 Tm BGB 12.57 11.29 -10.2 9.3 BNY Mellon Str Muni Bond DSM 6.18 5.23 -15.4 5.0 GS Real Est Div Inc:W 9.31 NA NA -5.7 Apollo Diversified Cd:C 21.67 NA NA 7.8
end or during the previous 52 weeks for periods NuvSP500BuyIncFd BXMX 13.47 12.56 -6.8 10.6 EtnVncFltRteInc EFT 13.24 12.40 -6.3 9.6 BNY Mellon Strat Muni LEO 6.48 5.51 -15.0 5.0 NexPointRlEstStrat;A 18.41 NA NA -6.7 Apollo Diversified Cd:F 21.68 NA NA 10.9
ending at any time other than month-end) by the
ReavesUtilityIncome UTG 25.91 25.89 -0.1 -4.8 DWS Muni Inc KTF NA 8.12 NA 3.9 NexPointRlEstStrat;C 18.62 NA NA -7.4 Apollo Diversified Cd:I 21.67 NA NA 8.5
latest month-end market price adjusted for capital EV SenFlRtTr EFR 13.03 12.20 -6.4 9.4
gains distributions. Depending on the fund category, Tortoise Enrgy Infra Crp TYG 35.52 30.13 -15.2 7.5 EVMuniBd EIM 10.80 9.35 -13.4 4.4 NexPointRlEstStrat;Z 18.64 NA NA -6.4 Apollo Diversified Cd:L 21.67 NA NA 8.1
either 12-month yield or total return is listed. FT/Sr Fltg Rte Inc 2 FCT 11.13 10.20 -8.4 9.4
Tortoise Midstream Enrgy NTG 41.78 34.80 -16.7 17.1 PIMCO Flexible REI;Inst 10.22 NA NA NS Apollo Diversified Cd:M 21.68 NA NA 8.0
Source: Lipper Highland Oppty & Income HFRO 13.48 8.17 -39.4 11.2 EVMuniIncm EVN 10.78 9.22 -14.5 5.1
VDivInt&PremStr NFJ 13.46 11.60 -13.8 14.7 EVNatMuniOpp EOT 17.45 16.78 -3.8 4.5
PREDEX;I 26.46 NA NA -14.3 Opprtnstc Crdt Intrvl;I 11.82 NA NA 7.1
Friday, September 22, 2023 InvDYCrOpp:AX VTA 11.11 NA NA NA
V Art Int&Tech Opps AIO 18.64 16.88 -9.4 19.1 PREDEX;T 26.59 NA NA -14.4 PIMCO Flexible Cr I;A-1 6.76 NA NA 15.7
52 wk InvSnrIncTr VVR 4.12 3.93 -4.6 14.1 InvAdvMuIncTrII VKI 9.13 7.78 -14.8 5.2
Prem Ttl Income & Preferred Stock Funds PREDEX;W 26.59 NA NA -14.4 PIMCO Flexible Cr I;A-2 6.76 NA NA 15.7
Nuveen Credit Strat Inc JQC 5.85 5.12 -12.5 10.9 Invesco MuniOp OIA 5.95 5.90 -0.8 5.2
Fund (SYM) NAV Close /Disc Ret CalamosStratTot CSQ 14.07 14.49 +3.0 24.9 Principal Real Asst A 24.79 NA NA 2.2 PIMCO Flexible Cr I;A-3 6.76 NA NA 15.4
NuvFloatRateIncFd JFR 9.21 8.26 -10.3 10.9 InvescoMuOppTr VMO 10.20 8.65 -15.2 5.1
CohenStrsLtdDurPref&Inc LDP 19.64 17.20 -12.4 0.6 Principal Real Asst Ins 24.87 NA NA 2.5 PIMCO Flexible Cr I;A-4 6.76 NA NA 15.4
General Equity Funds High Yield Bond Funds InvescoMuTr VKQ 10.26 8.75 -14.7 5.1
CohenStrsSelPref&Income PSF 19.24 17.84 -7.3 2.3 Principal Real Asst Y 25.10 NA NA 2.7 PIMCO Flexible Cr I;Inst 6.76 NA NA 16.2
Adams Diversified Eq Inc ADX 19.56 16.90 -13.6 21.3 abrdn Inc Credit Str ACP 6.81 6.97 +2.3 17.1 InvescoQual Inc IQI 10.29 8.77 -14.8 5.1
CohenStrsTaxAvPreSecs&I PTA 19.14 17.92 -6.4 8.5 Redwood Rl Est;I 25.07 NA NA NS Other Domestic Taxable Bond Funds
Central Secs CET NA 35.74 NA 13.1 AllianceBernGlHiIncm AWF 10.59 9.85 -7.0 8.8 InvTrInvGrMu VGM 10.55 8.92 -15.5 5.0 SS Priv Venture & Gr:D NA NA NA NS
FirstTrIntDurPref&Inc FPF 17.50 14.95 -14.6 -4.3 AFA Private Credit;Fndr 9.55 NA NA 9.1
CohenStrsCEOppFd FOF 10.31 10.36 +0.5 14.4 Allspring Income Oppty EAD 7.01 6.16 -12.1 9.7 InvescoValMunInc IIM 12.63 11.00 -12.9 5.0 SS Priv Venture & Gr:I NA NA NA NS AFA Private Credit;Inst 9.59 NA NA 9.1
EVTxAdvDivIncm EVT 23.06 21.49 -6.8 4.6 JHanPrefInc HPI 14.77 14.70 -0.5 -1.4 Barings Glb SD HY Bd BGH 14.61 12.99 -11.1 10.8 MAINSTAY:MKDEFTRMUNOP MMD 16.26 15.88 -2.4 5.6 SS Priv Venture & Gr:S NA NA NA NS Alternative Credit Inc:A 9.76 NA NA 7.1
GabelliDiv&IncTr GDV 23.76 19.71 -17.0 8.3 JHPrefIncII HPF 14.65 14.69 +0.3 -2.9 BR Corporate HY HYT 9.24 8.79 -4.9 10.1 NeubrgrBrm NBH 11.38 9.69 -14.9 5.2 SS Priv Venture & Gr;T NA NA NA NS Alternative Credit Inc:C 9.88 NA NA 6.3
Gabelli Equity Tr GAB 4.87 5.29 +8.6 1.9 HnckJPfdInco III HPS NA 13.60 NA 1.6 BlackRock Ltd Dur Inc BLW 13.61 13.05 -4.1 8.9 Nuveen AMT-Fr Mu Val NUW 14.69 13.10 -10.8 3.4 The Private Shares;A 39.55 NA NA -6.1 Alternative Credit Inc:I 9.77 NA NA 7.3
GeneralAmer GAM 50.10 41.15 -17.9 24.7 J Han Prm PDT 11.39 9.89 -13.2 -20.1 BNY Mellon Hi Yield Str DHF 2.55 2.21 -13.3 8.7 Nuveen AMT-Fr Qlty Mun I NEA 11.91 10.04 -15.7 4.4 The Private Shares;I 40.16 NA NA -5.9 Alternative Credit Inc:L 9.76 NA NA 6.8
JHancockTaxAdvDiv HTD 20.49 18.71 -8.7 -7.6 LMP CapInco SCD 14.34 12.60 -12.1 17.1 Brookfield Real Asst Inc RA NA 12.07 NA 18.5 Nuveen AMT-Fr Mu CI NVG 12.71 10.79 -15.1 5.0 The Private Shares;L 38.96 NA NA -6.3 Alternative Credit Inc:W 9.75 NA NA 7.1
Liberty All-Star Equity USA 6.10 5.97 -2.1 14.9 Nuveen Multi-Asset Inc NMAI 13.10 11.32 -13.6 15.8 CrSuisHighYld DHY 2.10 1.89 -10.0 9.8 Nuveen Dyn Muni Opp NDMO 10.34 9.92 -4.1 7.9 Thirdline Real EstateI 10.22 NA NA 7.2 Angel Oak Str Crdt:FI 20.64 NA NA 7.9
Liberty All-Star Growth ASG 5.22 4.90 -6.1 4.8 Nuveen Pref & Inc Opp JPC 7.41 6.32 -14.7 -4.8 DoubleLine Inc Sol DSL 11.80 11.87 +0.6 12.5 Nuveen Mu Crdt Opps NMCO 11.05 10.41 -5.8 5.8 USQ Core Real Estate:I 25.75 NA NA -12.3 Angel Oak Str Crdt:Inst 20.63 NA NA 8.6
Royce Micro-Cap Tr RMT 9.50 8.27 -12.9 15.0 Nuveen Fd JPS 7.35 6.21 -15.5 0.0 DoubleLine Yld Opps DLY 15.24 14.82 -2.8 9.6 Nuv Muni Credit Income NZF 12.84 10.73 -16.4 4.9 USQ Core Real Estate:IS 25.81 NA NA -12.3 BR Credit Strat;A 8.70 NA NA 7.1
Royce Value Trust RVT 14.77 12.83 -13.1 8.8 Nuveen Pref & Inc Term JPI 18.29 17.21 -5.9 -1.4 First Tr Hi Inc Lng/Shrt FSD 12.34 10.76 -12.8 11.3 NuvMuniHiIncOpp NMZ 10.28 9.74 -5.3 5.7 Versus Cap MMgr RE Inc:I 26.57 NA NA NE BR Credit Strat;Inst 8.68 NA NA 8.0
Source Capital SOR 42.30 38.94 -7.9 17.8 Nuveen Var Rate P&I NPFD 18.60 15.81 -15.0 -0.8 First Trust HY Opp:2027 FTHY 15.32 13.40 -12.5 Nuveen Muni Val NUV 8.99 8.26 -8.1 3.9 Versus Capital Real Asst 27.48 NA NA 5.1 BR Credit Strat;U 8.70 NA NA 7.1
11.1
Sprott Focus Trust FUND 8.28 7.51 -9.3 14.1 TCW Strat Income TSI 5.04 4.63 -8.1 5.3 Nuveen Quality Muni Inc NAD 12.34 10.46 -15.2 4.6 Wildermuth:I 9.89 NA NA -24.9 BR Credit Strat;W 8.70 NA NA 7.1
Franklin Univ FT 7.30 6.56 -10.1 7.5
SRH Total Return STEW 16.37 13.21 -19.3 23.3 Convertible Sec's. Funds KKR Income Opportunities KIO NA 12.11 NA Nuveen Sel TF NXP 13.99 14.11 +0.9 4.0 Income & Preferred Stock Funds BlackRock Mlt-Sctr Oppty 65.86 NA NA 9.0
10.9
Tri-Continental TY 30.52 26.78 -12.3 9.5 AdvntCnvrtbl&IncFd AVK 11.78 10.63 -9.8 5.4 PIMCO MuniInc PMF 8.94 8.82 -1.3 5.8 Alpha Alternative Assets 6.25 NA NA 0.8 BlackRock Mlt-Sec Opp II 69.72 NA NA 9.0
New Amer Hi Inc HYB 7.82 6.63 -15.2 7.7
Specialized Equity Funds CalamosConvHi CHY 10.17 11.30 +11.1 15.9 PIMCOMuniIncII PML 8.29 8.04 -3.0 6.3 Calamos L/S Eqty and DI CPZ 17.23 14.82 -14.0 9.5 CION Ares Dvsfd Crdt;A NA NA NA 7.1
Nuveen Global High Inc JGH 12.66 11.40 -10.0 11.0
abrdn Glb Prem Prop AWP 3.86 3.75 -2.8 4.2 CalmosConvOp CHI 9.63 10.75 +11.6 18.2 PGIM Global High Yield GHY 12.29 11.01 -10.4 Pimco Muni III PMX 7.59 6.91 -9.0 6.0 Carlyle AlpInv Pvt Mkt:I NA NA NA NS CION Ares Dvsfd Crdt;C NA NA NA 6.5
11.2
abrdn Global Infra Inc ASGI 19.81 16.91 -14.6 9.8 Ellsworth G&I Fund Ltd ECF 9.08 8.14 -10.4 2.6 PioneerHilncAdv MAV 8.47 7.08 -16.4 5.9 Constitution Cap Acs A NA NA NA NS CION Ares Dvsfd Crdt;I NA NA NA 7.3
PGIM High Yield Bond ISD 13.35 12.07 -9.6 10.2
Adams Natural Resources PEO 26.79 22.97 -14.3 28.8
V Conv & Inc NCV 3.61 3.06 -15.2 6.4 PionrMuniHiIncOppty MIO 11.80 9.95 -15.7 5.8 Constitution Cap Acs D NA NA NA NS CION Ares Dvsfd Crdt;L NA NA NA 6.9
PGIM Sh Dur Hi Yld Opp SDHY 16.92 14.79 -12.6 8.4
ASA Gold & Prec Met Ltd ASA 16.76 14.22 -15.2 14.6
V Conv & Inc II NCZ 3.21 2.72 -15.3 7.4 PioneerMunHiIcm MHI 9.14 7.61 -16.7 6.0 First Trust Alt Opps;A 26.12 NA NA 6.0 CION Ares Dvsfd Crdt;U NA NA NA 6.6
PioneerHilncm PHT 7.67 6.83 -11.0 9.9
V Div Inc & Conv ACV 19.74 18.50 -6.3 12.6 Putnam Mgd Inc PMM 6.17 5.62 -8.9 5.9 First Trust Alt Opps;A 26.53 NA NA 6.8 CION Ares Dvsfd Crdt:U2 NA NA NA 6.6
BR Enh C&I CII 18.58 18.68 +0.5 23.7 WstAstHIF II HIX 4.66 4.62 -0.9 12.1
V Eqty & Conv Inc NIE 22.15 20.17 -8.9 19.2 Putnam Muni Opp PMO 10.51 9.63 -8.4 5.5 Flat Rock Opportunity 19.06 NA NA 13.3 CION Ares Dvsfd Crdt;W NA NA NA 6.9
BlackRock Energy & Res BGR 14.69 13.04 -11.2 32.5 Western Asset Hi Inc Opp HIO 4.18 3.74 -10.5 9.3
World Equity Funds RiverNorth Flx Mu Inc II RFMZ 14.58 12.96 -11.1 7.7 Lord Abbett Spec Sit I:A 9.13 NA NA 10.0 CNR Select Strategies 13.31 NA NA 0.0
BlackRock Eq Enh Div BDJ 8.47 7.56 -10.7 2.3 Western Asset Hi Yld D O HYI 12.32 11.44 -7.1 9.8
abrdn Emg Mkts Eq Inc AEF 5.68 4.85 -14.6 10.6 RiverNorth Mgd Dur Mun I RMM 15.33 14.63 -4.6 7.1 Lord Abbett Spec Sit I:I 9.13 NA NA 10.8 First Eagle Crdt Opps A 23.70 NA NA 9.7
BlackRock Enh Glbl Div BOE 11.09 9.62 -13.3 16.4 Other Domestic Taxable Bond Funds
abrdn Glbl Dyn Div AGD 10.39 8.90 -14.3 13.0 Western Asset Mgd Muni MMU 11.05 9.32 -15.7 4.6 Variant Altrntv Inc:Inst 29.54 NA NA 9.0 First Eagle Crdt Opps A2 23.66 NA NA 9.4
BlackRock Enh Intl Div BGY 5.76 5.02 -12.8 19.4 Allspring Multi-Sector ERC 9.71 9.33 -3.9 8.8
abrdn Tot Dyn Div AOD 8.98 7.70 -14.3 15.1 Single State Muni Bond Variant Impact;Instl 28.02 NA NA 12.1 First Eagle Crdt Opps I 23.61 NA NA 10.2
BlackRock ESG Cap All T ECAT 17.05 14.77 -13.4 24.6 Ares Dynamic Crdt Alloc ARDC 14.14 12.90 -8.8 10.1
Allspring Gl Div Oppty EOD 4.66 4.11 -11.8 4.8 BlackRock CA Mun BFZ 12.27 10.70 -12.8 3.9 Convertible Sec's. Funds First Trust Private Cr;A 10.34 NA NA NS
BlackRock Hlth Sci Term BMEZ 17.12 14.14 -17.4 7.7 BlackRock Mlt-Sctr Inc BIT 14.19 14.54 +2.5 10.0
BlackRock Cap Alloc Term BCAT 16.68 14.33 -14.1 14.8 Calmos Dyn Conv and Inc CCD 18.60 19.22 +3.3 4.8 First Trust Private Cr;I 10.36 NA NA 5.4
BlackRock Hlth Sciences BME 41.14 39.15 -4.8 5.4 BlackRock Tax Muni Bd BBN 16.88 15.34 -9.1 7.8 BR MH CA Qly Fd Inc MUC 11.84 10.10 -14.7 4.4
Calamos GloDynInc CHW 6.35 5.71 -10.1 0.3 World Equity Funds Franklin BSP Pvt Cr:A 10.41 NA NA NS
BlackRock Innov&Gro Term BIGZ 8.36 6.75 -19.3 4.7 DoubleLine:Oppor Crdt Fd DBL 14.41 14.53 +0.8 9.2 BR MH NJ Qly MUJ 12.39 10.57 -14.7 4.7
EV TxAdvGlbDivInc ETG 17.53 15.69 -10.5 13.7 ACAP Strategic:A 16.18 NA NA 13.3 Franklin BSP Pvt Cr:Adv 10.41 NA NA NS
BlackRock Res & Comm BCX 10.65 9.37 -12.0 18.0 EVLmtDurIncm EVV 10.30 9.18 -10.9 11.8 BR MH NY Qly MHN 11.28 9.66 -14.4 4.3
EtnVncTxAdvOpp ETO 23.79 21.59 -9.2 12.6 ACAP Strategic:W 12.10 NA NA 14.1 FS Credit Income;A 11.83 NA NA 7.8
BlackRock Sci&Tech Term BSTZ 20.22 16.48 -18.5 2.0 Franklin Ltd Dur Income FTF 7.07 6.24 -11.7 11.5 BR MuniYld MI Qly MIY 12.22 10.39 -15.0 4.4
FirstTr Dyn Euro Eq Inc FDEU 13.35 12.64 -5.3 36.6 CalamosGlbTotRet CGO 9.65 8.75 -9.3 13.1 FS Credit Income;I 11.87 NA NA 8.1
BlackRock Sci&Tech Trust BST 31.67 31.00 -2.1 12.5 J Han Investors JHI 13.86 12.41 -10.5 7.2 BR MuniYld NY Qly MYN 10.91 9.27 -15.0 4.2
Gabelli Multimedia GGT 3.51 6.38 +81.8 26.6 Cantor Fitzgerald SI:A 10.11 NA NA -1.8 FS Credit Income;T 11.86 NA NA 7.6
BlackRock Utl Inf & Pwr BUI 21.14 20.52 -2.9 3.2 MFS Charter MCR 6.59 5.95 -9.7 0.0 BlackRock NY Mun BNY 11.19 9.43 -15.7 4.2
GDL Fund GDL 10.05 7.76 -22.8 5.0 Cantor Fitzgerald SI:C 10.05 NA NA NS FS Credit Income;U 11.82 NA NA 7.3
CLEARBRIDGEENGYMDSOPP EMO 36.73 32.27 -12.1 42.7 NuvCorePlusImpact NPCT 11.14 9.36 -16.0 11.3 EVCAMuniBd EVM 9.82 8.36 -14.9 4.2 Cantor Fitzgerald SI:I 10.10 NA NA NS FS Credit Income;U-2 11.91 NA NA 7.6
Highland Global Alloc HGLB 11.18 8.21 -26.6 1.5 Eaton Vance NY Muni Bd ENX 10.02 8.65 -13.7 3.8
CLEARBRIDGEMLP&MDSTMTR CTR 38.10 32.53 -14.6 37.8 Nuveen Taxable Muni Inc NBB 16.22 14.64 -9.7 6.1 Primark Priv Eq Inv:I 11.35 NA NA 4.4 GL Beyond Income 0.41 NA NA NE
India Fund IFN 16.32 17.24 +5.6 25.5 InvCaValMuIncTr VCV 10.44 8.79 -15.8 4.7
ClearBridge MLP & Midstm CEM 42.57 36.46 -14.4 36.4 PIMCO Corp & Inc Oppty PTY 10.64 14.02 +31.8 11.1 Sweater Cashmere 21.16 NA NA 5.7 KKR CREDIT OPPTY;D NA NA NA 8.2
Japan Smaller Cap JOF 8.88 7.27 -18.1 24.3 InvPAValMuIncTr VPV 10.97 9.16 -16.5 4.4
ChnStrInfr UTF 21.65 20.49 -5.4 -5.3 PIMCO Corp & Inc Strat PCN 10.96 13.42 +22.4 10.8 Thornburg Inc Bldr Opps TBLD.O 17.17 14.86 -13.5 20.6 KKR CREDIT OPPTY;I NA NA NA 8.5
LazardGlbTotRetInc LGI 16.23 13.89 -14.4 11.7 InvTrInvGrNYMu VTN 11.20 9.45 -15.6 4.4
Cohen&SteersQualInc RQI 11.24 10.59 -5.8 -1.2 PIMCOHilnco PHK 4.40 4.53 +3.0 11.7 VirtusTotalRetFd ZTR 6.04 5.08 -15.9 -4.5 KKR CREDIT OPPTY;T NA NA NA 7.8
Mexico MXF NA 16.91 NA 33.8 Nuveen CA AMT-F Qual MI NKX 12.38 10.67 -13.8 4.7
CohenStrs Real Est and I RLTY 14.61 13.45 -8.0 9.3 PIMCO IncmStrFd PFL 7.61 7.68 +0.9 12.4 Prem12 Mo KKR CREDIT OPPTY;U NA NA NA 7.8
Miller/Howard High Inc E HIE NA 9.97 NA 10.6 Nuveen CA Val NCA 8.99 8.54 -5.0 3.8
Cohen&Steers TotRet RFI 10.75 10.58 -1.6 -4.3 PIMCO IncmStrFd II PFN 6.70 6.63 -1.0 12.5 Fund (SYM) NAV Close /Disc Yld Palmer Square Opp Inc 17.22 NA NA 8.8
MS ChinaShrFd CAF 15.51 12.57 -19.0 -7.9 NuveenCAQtyMuInc NAC 11.96 10.06 -15.9 4.5
CohenStrsREITPrefInc RNP 18.64 17.86 -4.2 5.1 Putnam Prem Inc PPT 3.71 3.44 -7.3 8.8 U.S. Mortgage Bond Funds World Income Funds
MS India IIF 27.64 22.39 -19.0 10.9 NuvNJ Qual Muni Inc NXJ 12.97 10.83 -16.5 3.7
Columbia Sel Prm Tech Gr STK 26.41 27.29 +3.3 25.0 Western Asset Dvsfd Inc WDI 14.97 13.49 -9.9 11.4 Arca US Treasury NA NA NA NE BlueBay Destra Itl E:A 23.87 NA NA 13.1
MS CBRE Gl In Mg Term MEGI 14.63 12.59 -13.9 -0.6 Nuveen NY AMT/Fr Qual MI NRK 11.29 9.70 -14.1 4.4
DNP Select Income DNP 7.92 9.97 +25.9 -0.2 World Income Funds Ellington Inc Opp:A 9.08 NA NA NA BlueBay Destra Itl E:I 23.90 NA NA 13.3
New Germany GF NA 8.30 NA 16.5 Nuveen NY Qual Muni Inc NAN 11.78 9.90 -16.0 4.5 BlueBay Destra Itl E:L 23.84 NA NA 12.9
Duff&Ph Uti&Infra Inc Fd DPG 10.51 8.91 -15.2 -24.1 Nuveen Rl Asst Inc & Gro JRI 12.70 10.77 -15.2 2.4 abrdn AP IncFd FAX 2.97 2.57 -13.5 12.6 Ellington Inc Opp:M 8.96 NA NA NA
EtnVncEqtyInc EOI 15.96 16.38 +2.6 23.6 MS EmMktDomDebt EDD 5.33 4.53 -15.0 6.3 Nuveen PA Qual Muni Inc NQP 12.54 10.49 -16.3 3.5 BlueBay Destra Itl E:T 23.73 NA NA 12.8
Templeton Dragon TDF 10.31 8.69 -15.7 -7.9 Loan Participation Funds
EtnVncEqtyIncoII EOS 17.89 17.16 -4.1 18.2 PIMCO Dynamic Income PDI 16.73 17.50 +4.6 18.2 Nuveen VA Qlty Mun Inc NPV 11.67 9.96 -14.7 4.3 Calamos-Aksia ACI:A 10.27 NA NA NS
Templeton Em Mkt EMF 13.39 11.51 -14.0 14.3 1WS Credit Income;A2 18.79 NA NA 6.2
EVRskMnDvsEqInc ETJ 8.28 7.67 -7.4 -1.7 PIMCO Stratg Inc RCS 4.21 5.39 +28.0 11.1 PIMCO CA PCQ 9.71 8.64 -11.0 5.8 Calamos-Aksia ACI:C 10.24 NA NA NS
1WS Credit Income;Inst 19.10 NA NA 6.1
Prem12 Mo PIMCOCAMuniII PCK 6.16 5.28 -14.3 5.2 Calamos-Aksia ACI:I 10.27 NA NA NS
ETnVncTxMgdBuyWrtInc ETB 13.74 12.78 -7.0 -2.7 Fund (SYM) NAV Close /Disc Yld Templeton Em Inc TEI 5.53 4.70 -15.0 11.1 Axonic Alternative Inc 19.64 NA NA 9.0
52 wk Calamos-Aksia ACI:M 10.25 NA NA NS
EtnVncTxMgdBuyWrtOpp ETV 12.63 12.17 -3.6 -3.6 Templtn Glbl Inc GIM 4.34 3.96 -8.8 8.9 Blackstone FR EI D 21.87 NA NA 9.1
U.S. Mortgage Bond Funds Prem Ttl Carlyle Tact Pvt Cred:A 8.46 NA NA 9.7
EvTxMnDvsEqInc ETY 12.00 11.63 -3.1 12.9 WstAstEmergDebt EMD 9.82 8.62 -12.2 10.1 Blackstone FR EI I 21.85 NA NA 9.3
BlckRk Income BKT 12.09 11.41 -5.6 8.8 Fund (SYM) NAV Close /Disc Ret Carlyle Tact Pvt Cred:I 8.50 NA NA 10.3
EtnVncTxMgdGlbB ETW 8.61 7.68 -10.8 4.6 Western Asset Gl Cr D Op GDO 12.53 11.80 -5.8 9.9 Blackstone FR EI T 21.80 NA NA 8.9
Invesco HI 2023 Tgt Term IHIT 7.48 7.14 -4.5 5.7 General Equity Funds Carlyle Tact Pvt Cred:L 8.45 NA NA 9.7
EVTxMnGblDvEqInc EXG 8.28 7.48 -9.7 9.4 National Muni Bond Funds Blackstone FR EI T-I 22.34 NA NA 8.9
Investment Grade Bond Funds Alternative Strategies:I 17.94 NA NA -8.4 Carlyle Tact Pvt Cred:M 8.50 NA NA 9.5
Ecofin S&S Impact Term TEAF 15.15 12.35 -18.5 0.0 AllBerNatlMunInc AFB 11.68 9.85 -15.7 4.1 Blackstone FR EI U 22.77 NA NA 8.9 Carlyle Tact Pvt Cred:N 8.46 NA NA 10.3
First Trust Energy Inc G FEN 15.79 13.63 -13.7 4.9 Angel Oak FS Inc Trm FINS 13.68 11.86 -13.3 9.6 BlckRk Inv Q Mun BKN 12.29 10.62 -13.6 First Trust Hdg Strat;A 10.03 NA NA N Bluerock HI Inst Crd:A 24.38 NA NA 8.0
4.9 Carlyle Tact Pvt Cred:U 8.51 NA NA NS
BlRck Core Bond BHK 10.33 10.02 -3.0 8.6 First Trust Hdg Str;I 10.04 NA NA N Bluerock HI Inst Crd:C 24.38 NA NA 8.0
First Tr Enhanced Eq FFA 17.55 17.10 -2.6 20.6 BlackRock Muni 2030 Tgt BTT 22.82 19.75 -13.5 3.4 Carlyle Tact Pvt Cred:Y 8.46 NA NA 10.1
BR Credit Alloc Inc BTZ 10.94 9.84 -10.1 9.9 Specialized Equity Funds Bluerock HI Inst Crd:F 24.38 NA NA 8.0
FirstTrEnergyInfra FIF 17.38 15.40 -11.4 18.2 BlackRock Muni BFK 10.99 9.40 -14.5 4.2 Fid MS Cr;A 10.08 NA NA NS
InvescoBond VBF 15.56 14.61 -6.1 5.3 Apollo Diversified RE:A 25.51 NA NA -7.4 Bluerock HI Inst Crd:I 24.39 NA NA 8.0
FirstTrMLPEner&Inc FEI 9.41 8.06 -14.3 18.3 BlackRock Muni II BLE 11.33 9.65 -14.8 4.5 Fid MS Cr;C 10.08 NA NA NS
Apollo Diversified RE:C 24.01 NA NA -8.2
Gabelli Healthcare GRX 10.90 8.81 -19.2 -6.2 J Han Income JHS NA 10.35 NA 4.1 BlckRk Muni Inc Qly BYM 11.90 10.26 -13.8 4.6 BNYM Alcntr Glb MS Cr Fd 89.23 NA NA NA Fid MS Cr;I 10.08 NA NA NS
Apollo Diversified RE:I 26.04 NA NA -7.2
Gab Utility GUT 2.98 6.54 119.5 13.9 MFS Intmdt MIN 2.85 2.67 -6.3 0.0 BR MuniAssets Fd MUA 10.63 9.44 -11.2 5.5 CliffwaterClFd;I 10.78 NA NA 9.4 Fid MS Cr;L 10.08 NA NA NS
ARK Venture 22.41 NA NA 12.7
GAMCOGlGold&NatRes GGN 3.86 3.74 -3.1 28.7 Western Asset Inf-Lk Inc WIA 9.24 7.95 -14.0 14.5 BR MH Qly 2 MUE 10.91 9.20 -15.7 4.3 CliffwaterElFd;I 10.94 NA NA 9.7 Lord Abbett Cred Opps Fd 8.87 NA NA 8.4
ArrowMark Financial Corp BANX NA 17.56 NA NA
J Han Finl Opptys BTO 24.42 25.30 +3.6 -13.7 Western Asset Inf-Lk O&I WIW 9.95 8.47 -14.9 12.6 BR MuniHoldngs MHD 12.78 10.92 -14.6 4.3 CNR Strategic Credit 7.75 NA NA 19.5 Lord Abbett Cred Opps Fd 8.87 NA NA 9.1
Bluerock Total Inc+ RE:A 31.58 NA NA -11.2
Neuberger Brmn Enrgy I&I NML 8.04 6.98 -13.2 24.3 Westn Asst IG Def Opp Tr IGI 16.70 15.86 -5.0 4.9 BR MuniVest Fd MVF 7.49 6.36 -15.1 4.1 Eagle Point Instl Income NA NA NA 8.8 Lord Abbett Crd Op:U 8.87 NA NA 8.4
Bluerock Total Inc+ RE:C 29.45 NA NA -11.9
Neuberger Nxt Gen Conn NBXG 12.41 10.52 -15.2 26.8 Loan Participation Funds BR MuniVest 2 MVT 11.62 9.88 -15.0 4.2 Bluerock Total Inc+ RE:I 32.41 NA NA -11.0 Equalize Community Dev 9.19 NA NA 3.6 Oaktree Dvsfd Income;D 8.82 NA NA 8.2
Bluerock Total Inc+ RE:L 31.08 NA NA -11.4 FedProj&TrFinanceTendr 10.09 NA NA 6.3 PIMCO Flexible EM I;Inst 7.95 NA NA 9.3
Bluerock Total Inc+ RE:M 29.58 NA NA -11.7 Flat Rock Core Income 20.58 NA NA 7.1 National Muni Bond Funds
CBRE GlbRlEst IGR 5.21 4.65 -10.7 -8.5 Flat Rock Enhanced Inc 21.38 NA NA NS Ecofin Tax-Exempt Prv Cr 8.35 NA NA 5.1
Insider-Trading Spotlight CIM RA&C A 25.05 NA NA 3.6 InvDYCrOpp:A 11.11 NA NA 9.3 Lind Cap Pt Mun Cred Inc 8.51 NA NA 4.5
24.39 NA NA 2.8 InvDYCrOpp:R6 11.12 NA NA 9.7 Nuveen En HY Muni Bd:A1 6.97 NA NA 5.4
Trading by ‘insiders’ of a corporation, such as a company’s CEO, vice president or director, potentially conveys CIM RA&C C
InvDYCrOpp:Y 11.11 NA NA 9.6
CIM RA&C I 25.27 NA NA 3.9 Nuveen En HY Muni Bd:A2 6.98 NA NA 5.7
new information about the prospects of a company. Insiders are required to report large trades to the SEC CIM RA&C L 24.81 NA NA 3.3 Invesco Sr Loan A 5.88 NA NA 11.0 Nuveen En HY Muni Bd:I 6.96 NA NA 6.2
within two business days. Here’s a look at the biggest individual trades by insiders, based on data received by Clarion Partners REI D 12.02 NA NA -0.4 Invesco Sr Loan C 5.89 NA NA 10.3 PIMCO Flex Mun Inc;A-3 9.60 NA NA 3.5
Refinitiv on September 22, and year-to-date stock performance of the company Clarion Partners REI I 12.04 NA NA 0.0 Invesco Sr Loan IB 5.88 NA NA 11.3 PIMCO Flex Mun Inc:A1 9.60 NA NA 3.8
KEY: B: beneficial owner of more than 10% of a security class CB: chairman CEO: chief executive officer CFO: chief financial officer Clarion Partners REI S 12.04 NA NA -0.8 Invesco Sr Loan IC 5.88 NA NA 11.1 PIMCO Flex Mun Inc;A2 9.60 NA NA 3.8
CO: chief operating officer D: director DO: director and beneficial owner GC: general counsel H: officer, director and beneficial owner Clarion Partners REI T 12.01 NA NA -0.9 Invesco Sr Loan Y 5.88 NA NA 11.3 PIMCO Flex Mun Inc;Inst 9.60 NA NA 4.3
I: indirect transaction filed through a trust, insider spouse, minor child or other O: officer OD: officer and director P: president UT: First Tr Real Assets;I 9.53 NA NA -1.6 Lord Abbett FR Hi Inc:A 10.22 NA NA NS Single State Muni Bond
unknown VP: vice president Excludes pure options transactions Forum RE Income;I 9.33 NA NA NS Lord Abbett FR Hi Inc:I 10.22 NA NA NS PIMCO CA FMI;A-1 9.73 NA NA NS
GS Real Est Div Inc:A 9.15 NA NA -5.7 Monachil Credit Income:I 10.05 NA NA NS PIMCO CA FMI;Inst 9.73 NA NA 3.5
© 2023 Dow Jones & Company. All Rights Reserved. THE WALL STREET JOURNAL. Monday, September 25, 2023 | R1
PETE RYAN
Inside
How Trauma Can Become DENTAL THERAPISTS MEDICINE IN SPACE
T
and 2022, I was involved in a der. I couldn’t sleep, I lost in- human art to diagnosis. R4
HE LOSS of a situation where I feared for terest in my hobbies, I was
loved one, a brutal my physical well-being. Then snappish and I neglected my
attack, a crippling in October of 2022, my father family and social life. I re-
accident. Trauma died. The day before my dad member being so tense that Scan this code to
comes in many died, my dog died. Two chewing food was difficult. see how stressful
shapes and forms. It can also months later, my cat died. In the ensuing months, exercise helps our
be a series of hardships over Then, my husband suddenly however, something curious bodies to stay
a short period. That’s what and unexpectedly underwent Please turn to page R4 healthier for longer.
.
I
clinical trials or don’t have time ponder. There are no right or change if you knew that it’s the
4.
BRIAN STAUFFER
tion. But those trials are often so fast—and, thanks to artificial veloped do you think a drug Instead of asking a drug Betsy Morris is a writer in San
time-consuming and have strict intelligence, is likely to acceler- needs to be before it is available company for an experimen- Francisco. She can be reached at
criteria for who can participate. ate in the years ahead. to everybody? tal drug, should a seriously or [email protected].
M
tal therapists are the right solu- extractions or placing temporary the pandemic. The dearth of avail- sota Dental Therapy Association.
ANY Americans lack tion to the problem. Critics, who crowns. able education is also a factor. Of Proponents of expanding dental
proper access to include some dentists and certain therapy agree that other options
dental care. Could state dental groups, say the pro- for alleviating the provider short-
creating more dental cess to authorize, educate and li- age and access-to-care issues
therapists—clinicians cense therapists is time-consum- should be pursued. These could in-
who have less training than den- ing, and they would rather focus clude Medicaid changes and ear-
tists but can provide some routine on other, potentially faster efforts lier visits to the dentist, says
dental care like exams and fill- to address dental shortages and Catherine Hayes, chair of the de-
ings—help? care issues. These could include partment of oral health policy and
There’s a push in several states expanding the role of dental hy- epidemiology at Harvard School of
to permit dental therapists to gienists, starting the first visit to Dental Medicine.
practice, creating a tier of provid- the dentist at age one to improve Still, dental therapy, these ad-
ers comparable to physician assis- long-term oral health, changing vocates say, should remain as part
tants. Where they’re authorized to Medicaid reimbursement rates or of the tool kit.
perform basic procedures, sup- giving incentives to dentists to ac- “Nobody is suggesting that
porters say, dental therapists cept Medicaid. dental therapy is a panacea that’s
could increase access to care in Without changes to Medicaid, going to solve all the problems,”
underserved communities, reduce “it won’t move the needle in says Karl Self, an associate pro-
wait times and free up dentists to terms of access, regardless of fessor at the University of Minne-
do more complex procedures. whether you add another type of sota and director of the division of
“We just don’t have enough provider or not,” says Greg Hill, ex- dental therapy. “It doesn’t have to
practitioners that are willing to ecutive director of the New York be one or the other. Let’s take
see patients who don’t have insur- State Dental Association. that shotgun approach and try
ance or can’t pay out-of-pocket,” Dental therapists currently Sarah Chagnon, president of the American Dental Therapy Association. anything that’s going to work.”
says Robin Yang, division chief of practice in five states—Washing- It took time for physician assis-
M. SCOTT BRAUER FOR THE WALL STREET JOURNAL
oral and maxillofacial surgery and ton, Minnesota, Oregon, Alaska Over the past few years, bills the five dental-therapy programs tants to be recognized, “but I
dentistry at Johns Hopkins Medi- and Maine—according seeking to authorize dental thera- in the U.S., according to the Amer- couldn’t imagine healthcare with-
cine. “If there’s a backlog of pa- to data from the Oral Health pists have failed in several states ican Dental Therapy Association, a out them,” says Sarah Chagnon,
tients being seen for preventive Workforce Research Center at the including Florida, Kansas and trade organization, Alaska and president of the American Dental
care, practitioners don’t have time School of Public Health at the Maryland. This year, legislatures in Washington each has one while Therapy Association. “I think com-
to treat the more complicated University at Albany, part of the New York, New Jersey and Mas- Minnesota has three. Three of munities, over time, will see den-
problems they are trained to do.” State University of New York sys- sachusetts are considering such these programs are accredited by tal therapists the same way.”
Around 74 million people live in tem. Some 14 states have legal- authorization. the Commission on Dental Ac-
areas of the country where a den- ized the practice, but there can be In most states where dental creditation, which evaluates the Cheryl Winokur Munk is a writer
tal shortage has been identified, a long wait before it actually ar- therapists are allowed to practice, quality of more than 1,400 U.S. in West Orange, N.J. She can be
according to federal government rives because of a lack of infra- meanwhile, there are restrictions dental and dental-related educa- reached at [email protected].
.
I
it automatically adds a reminder
to my phone, telling me to pack
’M NOW IN FULL swing menstrual supplies.
on the hot-flashing, toss-
ing-and-turning, skin-
splotching and fretting Information and advice
stage of midlife that leads Simply navigating menopause is
up to menopause. Even a big project. Even though it’s
though my symptoms and now more openly discussed, and
experience have been there are lots of resources avail-
mostly bearable, I’m not one to able on everything from medica-
miss a chance to nerd out. tion to temperature control, it’s
I’ve always used technology to easy to get overwhelmed, and
tackle the challenges of life as hard to know who to trust.
they have come along, including In addition to buying books on
parenting, dieting and staying how to navigate menopause, I
fit. Now, at 52, as I deal with joined a couple of Reddit and
perimenopause—the years when Facebook groups that act like a
the body makes the transition to menopause clearinghouse. I’ve
menopause—here are the ways yet to post a question, because
I’ve used technology to make every question I have has always
this phase a little easier. been answered by just searching
the group for past Q&As.
But once in a while I have
Temperature control questions that are too specific
It’s hard for me to predict when for a general-purpose group, ei-
I’ll suddenly feel overheated, so
I’ve indulged in an ever-expand- How Technology Is Helping Me Deal ther because I’m looking for
feedback from people who know
then wake up boiling hot. No fore I got the smart plug, I found and downs a little more keenly when I travel (a not uncommon author of “Remote, Inc.: How to
sooner did I fall back asleep myself struggling with the fan’s than I have in recent years. side effect of jet lag or the stress Thrive at Work…Wherever You
when I’d be woken by the sound controls if I woke up hot in the So I have doubled down on all of travel itself), I set up an on- Are.” She can be reached at
of the dog, the birds outside or middle of the night. Now, I can the tech tools that have long line automation app to watch my [email protected].
R4 | Monday, September 25, 2023 THE WALL STREET JOURNAL. THE WALL STREET JOURNAL. Monday, September 25, 2023 | R5
A
adopt new algorithms and chat- agnostic errors, but current AI is prove accuracy. especially in minority patients. The other two got either both
bots, they are also recognizing unable to navigate the real-world Chatbots can also have Known as PAD, it narrows the the AI predictions and medical
RTIFICIAL in- the limitations and risks of the messiness associated with mak- so-called hallucinations, vessels that circulate blood to the history, or neither.
telligence is technology. While AI can process ing a clinical diagnosis, which in- generating false or irrel- legs and feet, causing foot The radiologists were asked to
being hailed as and interpret massive amounts volves dynamic interactions with evant information. And wounds and ulcers that can lead provide the probability of a
the holy grail of medical data, there is a hu- patients and more uncertainty one U.K study found that to amputations and death. given disease and a recommen-
for one of the man art to diagnosis—and the than diagnosing visual images,” while a chatbot fed simu- At the Duke Institute for dation for treatment or follow-
toughest chal- new technology can’t duplicate says Dr. Hardeep Singh, who lated patient cases could Health Innovation, based at Duke up, with accuracy measured by a
lenges facing many of the nuances that doc- studies diagnostic accuracy as produce relevant diagno- University, researchers devel- prognosis from five board-certi-
doctors today: tors see. What’s more, patients the co-chief of health policy, ses, it missed one or oped an algorithm to identify fied radiologists.
making the right diagnosis. as well as doctors need to trust quality and informatics at the more important diagno- PAD patients based on diagnosis The study found that the AI
Despite years of advances in AI amid concerns about its ac- Michael E. DeBakey Veterans Af- ses in 21 out of 35 cases codes and other medical history, predictions were more accurate
medical imaging and other tech- curacy. fairs Medical Center and is a for reasons that could using data that included a sub- than nearly two-thirds of
nology, diagnostic errors are still Here are some early lessons professor at Baylor College of not be determined. “The stantial number of its Black pa- the radiologists in the group that
the most commonly re- about combining doctors and Medicine, both in Houston. danger is that it misses tients. In a pilot program, a team had access to the medical his-
ported medical mistakes, affect- AI to reduce diagnostic errors. “Good diagnosticians don’t crucial, often life-threat- that includes a PAD specialist tory, though that group per-
ing an estimated 12 million take anything at face value,” ening, diagnoses that uses the algorithm to identify formed better than those with-
adults in outpatient care each such as a patient who is uncom- would be at the forefront new patients and update the sta- out the information.
year. Data from hospitalized pa- AI can’t replace fortable or unwilling to talk of every seasoned clini- tus of existing patients, giving However, on average, access
tients indicate there are close to experience about issues like substance cian’s mind,” says Dr. priority to high-risk patients to AI predictions didn’t im-
250,000 harmful diagnostic er- So-called predictive AI, trained abuse or trauma, says Dr. Ziad Joshua Au Yeung, a clini- with forthcoming medical visits prove radiologists’ diagnostic ac-
rors annually, and most people with data by medical experts for Obermeyer, an associate profes- cal AI researcher at so they can send recommenda- curacy. The radiologists’ biases
are likely to experience at least a specific task, is being used to sor of health policy and manage- Guy’s and St. Thomas’ tions to their primary-care pro- included underweighting AI’s as-
one diagnostic error in their find patterns from images in- ment at the University of Califor- Hospital in London. viders. sistance and ignoring any corre-
lifetime, sometimes with devas- cluding X-rays, CT scans and nia, Berkeley School of Public Advancements in tech- Dr. Mark Sendak, a Duke phy- lation with their own predic-
tating consequences. MRIs, as well as pathology slides Health. “Algorithms are never nology could help solve sician who specializes in popula- tions. There were other
Now, researchers at academic and other medical tests, to going to see how a patient looks some concerns. In one tion health and data science, downsides. Radiologists with AI
medical centers are teaming up help predict cancer risk and rec- or if they are avoiding a certain study, researchers at says one aim of the project is to assistance took longer to make
with AI developers and informa- ognize certain diseases. But an- set of questions or topics.” Stanford found close the racial gap in both diag- decisions. And AI predictions
tion-technology giants to figure other type, generative AI, in- that GPT-4, the current noses and care by identifying pa- hurt the accuracy of radiologists
out how to best pair ma- cludes chatbots trained on a version of ChatGPT, did tients who need more tests to who were confident in their own
chine learning and human know- trove of information from the in- AI is only as good as the much better than earlier conclusion (although predictions
how to improve diagnostic accu- ternet and other sources, en- data it uses version GPT-3.5 in answering is much more work to do to fur- ciate professor at Stanford Uni- fying information stripped out to did help radiologists who
racy. They are training doctors abling it to suggest diagnosis A major concern for AI in diag- exam questions that required ther reduce the likelihood of hal- versity School of Medicine, and search for patterns from millions Comfort Zones weren’t confident).
on integrating the technology and alert doctors to patterns or nosis is the quality of the data clinical reasoning—it didn’t pro- lucinations. OpenAI’s official po- an author of the study, says the of patient encounters, to pin- “Both AI models and radiolo-
In a survey of U.S. adults’ attitudes toward using AI to do things like diagnose
into their daily workflow, pitch- trends they might not easily no- used to create, or train, AI algo- duce any hallucinations, and it sition is that its models are not improvement between the two point disease earlier and Identify gists have their own unique
disease and recommend medical treatment:
ing it as “augmented intelli- tice about a patient’s condition. rithms. ChatGPT, the best known outperformed first- and second- fine-tuned to provide medical in- versions suggests the AI will the best treatment options. strengths and areas for improve-
gence”—a tool to help doctors For now, diagnostic experts chatbot model, is trained on ar- year medical students. formation and should never be continue to get better. “We Would feel ment,” says Dr. Nikhil Agarwal, a
KIERSTEN ESSENPREIS
make the correct diagnosis and say, no form of AI can replace a ticles, images, and other data ChatGPT developer OpenAI used to provide diagnostic ser- aren’t saying chatbots are going comfortable if co-author of the study and a
find the right treatment, rather human clinician’s ability to strike and can produce conversational says the new version is 40% vices for serious medical condi- to replace doctors soon,” but if AI must be easy to use provider relied professor of economics at MIT.
on AI for their 39% 46% 33%
than replace their own judg- up a personal bond with a pa- text. It has shown an impressive more likely to produce factual tions. research demonstrates physi- AI models have to fit seamlessly For example, radiologists often
ment. tient, observe subtle cues and ability to answer medical exam content than GPT-3.5, but there Dr. Eric Strong, clinical asso- cians perform better with the into doctors’ everyday prac- medical care spot so-called incidental find-
help of AI, “wouldn’t it be uneth- tice, in order for them to adopt All Men Women ings—medical concerns the AI
ical not to use it in their prac- the decision aids. “Adding it into isn’t programmed to look for—
60 54 66
tice?” Dr. Strong says. the workflow is an art,” says which can result in the need for
Some healthcare providers are Mayo’s Halamka. “The last thing further testing for disease.
turning their own electronic pa- you want to say to a clinician is, Would feel uncomfortable The optimal collaboration, the
tient records to create reliable ‘Go to a separate app, take even Note: Respondents who did not give an answer are not shown. Totals may not equal 100 because of rounding. researchers concluded, would be
algorithms. But patient informa- more time out of your day.’ ” Source: Pew Research Center, survey conducted Dec. 12-18, 2022 to have an AI algorithm make an
which we marbled paper, made direction he wanted it.” He rekin- wickreme says. So any positive vors’ stories of suffering horror, tion that is incomplete or inac- For example, Mayo designed initial prediction on a chest X-
Impact of
bath bombs and “sold” homemade dled his love for art and eventually changes stemming from the di- fear, guilt, shame and confusion. In curate has the potential to intro- an algorithm that can detect ray; if the prediction has a more
ice cream to neighbors from a DIY developed art programs for youths vorce may take longer to show up. time, the survivor’s focus shifts duce new risks of diagnostic signs of atrial fibrillation, or risk, but it is up to doctors to confirm a diagnosis, as well as than 90% confidence level, the
ice-cream stand. as a way to give back to his com- Deeper knowledge of PTG can away from trauma, moving toward errors and oversights. AFib, which would be undetect- decide what further tests and patients who have been diag- diagnosis could be relied on
H
it.” PTG generally involves a is the ability to create an questions about their actly, but rather the movements
changed worldview and new, posi- emotional distance from OW SATISFIED peo- previous night’s sleep that are used to estimate sleep.
tive behaviors. “You don’t neces- the traumatic event and ple are with their and their well-being on Additionally, because participants
sarily become ‘happy,’ but you be- know that it doesn’t de- night’s sleep has a the current day. had 24 hours to answer questions
come more fulfilled in your life,” fine who you are. “They major impact on how Once a day, partici- about a previous night’s sleep,
Tedeschi says. “There are still dif- with training campuses for mili- reme, a psychologist and professor specializes in trauma recovery. Au- say to themselves, ‘How can I well they feel the pants were asked five that amount of time could have
ficulties.” tary veterans and emergency re- at Wake Forest University. thor of the “Post-Traumatic learn and move on from this?’ ” next day, regardless of what a questions on a mobile- influenced memory and thus influ-
That resonates with me. I didn’t sponders. “Part of the process Jayawickreme founded Growth Guidebook,” Schwartz Conversely, neurotic people and tracking device might indicate phone application: enced the findings.
set out to “grow” from adverse ex- which leads to a meaningful life the Growth Initiative Lab at the calls attention to the importance those who struggle with emo- about the quality of that sleep. what time they went What is most important, says
periences. That’s why some of my involves something that has an university to delve deeper into the of developing strong connections tional stability are more likely to So says a new study conducted to bed, what time they Neomi Shah, program director of
behavioral changes came as such impact, something that matters,” phenomenon. “A lot of studies with people via support groups, need professional help to over- by researchers from the Univer- were ready to fall sleep medicine at Icahn School of
a surprise. With help from my he says. “And that usually involves track people after they have gone family members and compassion- come adversity. sity of Warwick in England. The asleep, what time they Medicine at Mount Sinai in New
husband (who has fully recovered, other people.” through a traumatic event,” he ate friends. “If you stay socially What’s encouraging to me is research involved 109 university woke up, what time York, is to pay attention to how
by the way), I built a hiking trail on In his book “Transformed by says. But, he adds, much of the re- engaged, that is linked to a posi- that feelings of well-being and a students ages 18 to 22 who took they got out of bed you feel about your sleep instead
the steep, wooded terrain behind Trauma: Stories of Posttraumatic search documents perceptions of tive outcome,” she says. greater appreciation of life don’t part in a two-week study. and how satisfied they of looking at what devices say. In
my house. I became more deeply Growth,” Tedeschi recounts the change and not actual behavioral typically fade over time, Tedeschi’s The students wore wrist de- were with their sleep. fact, the study could infer that
involved in my church food pantry. story of a military veteran who changes. They also may not track research shows. “Post-traumatic vices that used movement to esti- Information from wrist- wearables and technology might
And countless hours have been was badly wounded in Iraq. Think- changes that emerge long after Good listeners growth isn’t an achievement,” he mate their sleep efficiency, or the worn devices that mea- negatively affect well-being in
spent making complicated greet- ing that he would bleed to death the traumatic event. Tedeschi stresses the importance says. “It’s discovering a new way amount of time they were asleep sured sleep quality some individuals, adds Shah, who
ing cards with interactive ele- on the field, the soldier wondered, “If you go through a negative of what he calls “expert compan- of going about your life.” during the period between the wasn’t visible to the wasn’t involved in the research.
ments and mailing them to friends “Is this it?” After medics saved event like a divorce, there’s a long ionship.” These may be close time they were ready to fall students.
LIAM EISENBERG
THOMAS FUCHS
and family members. Over the him, Tedeschi says, “He thought time spent reflecting” on what friends, family, clergy or mental- Beth DeCarbo is a writer in South asleep (for example, if someone is Five times a day, at Barbara Sadick is a writer in New
summer, I hosted “crafting camps” back about how he lived his life went wrong and how you could health professionals who listen for Carolina. She can be reached at reading a book in bed and then random times, partici- York. She can be reached at
for my friends’ grandchildren in and realized it wasn’t going in the have been a better spouse, Jaya- extended periods to trauma survi- [email protected]. puts it away) and the time they pants were asked how [email protected].
.
R6 | Monday, September 25, 2023 THE WALL STREET JOURNAL. THE WALL STREET JOURNAL. Monday, September 25, 2023 | R7
Drugs For
yet known. der rheumatoid arthritis, failed Indiana University’s Kovacs
Amgen’s Repatha and Regen- to curtail heart risk. cautions that high-risk patients
eron’s Praluent, drugs known as The updated treatment guide- already on several medicines
PCSK9 inhibitors, and bempedoic lines from the American College may resist adding another, espe-
acid, marketed as Nexletol by Es- of Cardiology and the American cially one that while potentially
perion Therapeutics, are other Heart Association, issued in July, reducing a serious risk, doesn’t
The Heart
options. They are nonstatins that acknowledged inflammation’s make them feel better, a chal-
achieved modest additional re- role in the development of ath- lenge facing many preventive
ductions in LDL and heart risk in erosclerosis for the first time. drugs.
clinical studies when added to But the guidelines stopped short Dr. Roger Blumenthal, director
intensive statin treatment. of recommending colchicine, say- of the Ciccarone Center for the
At $99 a month, Lodoco is ing only that “it may be consid- Prevention of Cardiovascular
much cheaper than drugs such ered” as an option to reduce “re- Disease at Hopkins, says given
as Wegovy, which lists for more current” cardiovascular events. the lukewarm advice from the
Continued from page R1 tially important shift in than $1,600 a month at a Wal- Citing among other reasons po- new guidelines, he’ll likely urge
Several things could limit the medical practice. Diarrhea greens drugstore (before insur- tential interactions with other patients to work harder on
adoption of colchicine by cardiol- is associated with much ance coverage or discounts), or a drugs and a slight increase in healthy lifestyle changes—quit-
ogists, at least at first, including higher doses typically used PCSK9 inhibitor such as Repatha, non-heart-related deaths, the ting smoking, weight loss and
side-effect concerns and the to treat gout flares and which runs about $650 a month. guidelines say use of colchicine exercise all lower inflamma-
emergence of several other new could make doctors hesi- Studies suggest the relative re- should be limited to patients at tion—before prescribing the
options for reducing the risk of tant, though researchers duction in heart risk achieved very high risk “until further data drug.
heart attacks. But the drug’s ap- said it wasn’t a big issue with Lodoco is at least as large become available.” With growing interest in We-
proval provides fresh validation with the once-a-day low as with any of the other options. Cleveland Clinic’s Nissen, who govy and other obesity drugs,
for a concept that has been gain- dose tested in the heart-re- has been prescribing the 0.6-mil- colchicine “is going to enter a
ing momentum in cardiology over lated trials. Updated treat- ligram dose for selected patients, crowded space,” Hopkins’s Blaha
the past 25 years—that inflam- ment guidelines from the Caveats and hesitation says he’ll likely give one of the says. “But it will be a unique
mation is a key culprit in athero- American College of Cardi- Ridker and other cardiologists two versions (depending on drug—the only anti-inflamma-
sclerosis, the artery-clogging dis- ology and American Heart familiar with the drug say doc- price) to more patients in the tory drug approved for heart dis-
ease, and that treating it can Association gave colchicine tors may take it slow in prescrib- wake of FDA approval. ease.”
reduce the risk of a heart attack. a weak endorsement. ing it. The drug “is not for ev- “I think it is going to have a
The bedrock strategy for Another hurdle: lack of erybody,” Ridker says. It role to play, but it’s going to Ron Winslow is a writer in North
heart-attack prevention has long pharmaceutical companies shouldn’t be given to patients come after we’ve done other Conway, N.H. He can be reached
been lowering LDL cholesterol marketing muscle to get the with kidney or liver disease, for things we can do,” he says. at [email protected].
with drugs called statins. Adding word out to clinicians and instance.
low-dose colchicine—which in patients. The approved once-a-day 0.5-
one study reduced cardiovascu- The FDA gave approval milligram dose is slightly lower
lar risk by 31% in patients al- for the drug to Agepha than 0.6-milligram generic Anti-Inflammatory Trial
ready treated with statins and Pharma, a tiny family- colchicine already on the U.S. In a randomized trial, roughly 5,500 patients with chronic coronary disease
other preventive medicines— owned company based in market and may mitigate kidney were divided into two equal groups; one received 0.5 mg of colchicine once
would enable doctors to simulta- Dubai that has neither a risks associated with the higher daily, the other a placebo. The results showed a reduction in cardiovascular
neously hit two biological targets sales force nor a presence dose. But there are other reasons incidents, including heart attacks, for the patients taking colchicine.
that cause heart attacks. in the U.S. market. It hasn’t cardiologists may take time to
“This is about combining ther- been able to find a partner get used to colchicine before 20%
apies” that are both effective to co-promote the drug, adopting it as a regular option
ways to reduce risk, says Dr. which it calls Lodoco. for their patients.
Paul Ridker, director of the Cen- The potential market for One is the history of other
CUMULATIVE INCIDENCE
15
ter for Cardiovascular Disease an anti-inflammatory agent anti-inflammatory treatments.
Prevention at Harvard-affiliated to reduce heart risk is huge. The painkiller Vioxx, once Placebo
Brigham and Women’s Hospital, Data from clinical trials in- viewed as a potential candidate
Boston. “They’re not in conflict, dicate that about half of pa- to curb cardiovascular inflamma- 10
they’re synergistic.” tients with atherosclerosis tion, was pulled from the market
Colchicine
Ridker is a scientific adviser have elevated levels of C-re- in 2004 after it was found to
to Agepha Pharma, the company active protein, or CRP, de- have caused heart attacks and 5
that owns the rights to market spite being on intensive sta- death from heart attacks. And
0.5-milligram colchicine for car- soon after canakinumab’s suc-
diovascular-risk reduction, but treats gout pain, which is caused market. Other potential candi- obesity and diabetes, as well as cess in reducing coronary events
wasn’t involved in the studies by a similar biology—uric-acid dates for risk reduction beyond another class of diabetes drugs was reported, Ridker presented 0
that led to the drug’s approval.
‘The more you look and the deeper you look, you crystals that attack the joints.
On that basis, he and his col-
statins include Wegovy, from
Novo Nordisk, and other so-
known as SGLT2 inhibitors. Full
details on their risks and bene-
data from another study showing
methotrexate, a generic drug for
0 12 24 36
MONTHS SINCE RANDOMIZATION
48 60
Making it personal have to believe that inflammation matters,’ leagues launched—without drug-
company funding—a four-year
called GLP-1 agonists that treat fits in heart prevention aren’t treating the inflammatory disor- Source: New England Journal of Medicine, Nidorf et al, 2020
More broadly, colchicine is now pilot study called Lodoco that re-
part of a burgeoning arsenal of says Dr. Steven Nissen, chief academic officer cruited some 500 patients from
medicines that will enable cardi- his own practice, using a com-
ologists to personalize treatment
as they seek to maximize heart
at the Heart Institute, Cleveland Clinic. monly available 0.5 milligram
dose of colchicine.
protection for their high-risk pa- The results, which Nidorf pre-
tients beyond that achieved with sented at an American Heart As-
statins. For example, new drugs tin therapy. Such patients are doesn’t subside. It becomes a had a 15% reduction in major sociation conference in 2012,
that treat diabetes and obesity, significantly more likely to suffer chronic part of a process that cardiovascular events compared were so encouraging that the
two major risk factors for cardio- a heart attack or other cardio- causes accumulation of fatty de- with those on a placebo, even Australian team, together with
vascular disease, are among med- vascular event than those with posits in the artery walls called though the drug had no effect on colleagues in the Netherlands,
icines doctors say could play an low CRP and low LDL. plaques, which can rupture and LDL cholesterol. mounted a major randomized
important role in reducing heart Colchicine “is the first practi- cause heart attacks. Cholesterol Dr. Steven Nissen, chief aca- double-blind study, called
risk. Nonstatin drugs that lower cal option we have now” for can also crystallize in atheroscle- demic officer at the Heart Insti- Lodoco2. They enrolled 5,522 pa-
cholesterol are also in the mix. these patients, Kovacs says. Dan- rosis, further provoking an im- tute, Cleveland Clinic, who wasn’t tients with stable cardiovascular
WSJ’s
“The pivot here is to precision ish drugmaker Novo Nordisk is mune-system response. involved in the study, says the re- disease.
cardiology as opposed to one- among several companies with As research brought the link sult was “a landmark” because it About the same time, re-
size-fits-all cardiology,” says Dr. new anti-inflammatory drugs in between inflammation in the was the first to show that inhib- searchers in Canada mounted
Richard Kovacs, a professor at development to reduce heart risk. coronary arteries and the risk of iting inflammation could reduce their own colchicine study, called
Indiana University, Bloomington, heart attacks into focus, the cardiovascular risk without low- Colcot. It enrolled 4,745 patients
and chief medical officer of the question was, would a drug that ering cholesterol. “The more you to test whether colchicine added
American College of Cardiology. Establishing a link targeted inflammation lower that look and the deeper you look, you to statin therapy would reduce
Take On
Instead of routinely doubling Inflammation is a normal part of risk? have to believe that inflammation recurrent events in patients who
down on cholesterol-lowering for the immune system’s response to The answer came in a 10,061- matters,” he says. had suffered a heart attack
most patients already taking sta- injury and generally subsides patient study called Cantos, pub- within the previous 30 days.
tins, “we need to tailor treat- once its healing work is done. lished in 2017 and led by Ridker, The positive canakinumab re-
ment to the individual risk fac- But when the walls of the cor- that tested canakinumab, an an- Winning approval sults came out in 2017, part way
tors of the patient.” onary arteries are under con- tibody from Novartis that tar- But canakinumab was already on through Lodoco2.
the Week
The baseline strategy for stant assault—from LDL choles- gets an inflammatory immune- the market under the brand “We were thrilled,” Nidorf
high-risk patients won’t change, terol or, say, the effects of system protein called interleukin name Ilaris for several rare dis- says. Colchicine works differ-
doctors say: statins, blood-pres- smoking or dietary fat—the in- 1 beta. In patients with elevated eases at a price that would be ently, but hits canakinumab’s
sure control, and aspirin or anti- flammation that comes with the CRP already on statin therapy, prohibitive for use as a preven- main target, providing optimism
platelet drugs to prevent clots. immune system’s response those treated with canakinumab tive therapy. The drug also that the Lodoco2 trial would be
Add to that quitting smoking, a sharply reduced new cases of positive too.
healthy diet and regular exercise. lung cancer, but led to a slightly Sure enough, Lodoco2’s 31%
“After that, it’s personalized higher number of fatal infec- relative reduction in cardiovas-
approaches,” says Dr. Michael Dangerous Combination 8.7
tions, compared with a placebo. cular events was reported in
tient’s risk and then prescribe a with severe pericarditis. He gave approval.
drug best targeted to address 4 him a single dose of colchicine. The company launched the
that risk. “The next day he just felt fan- drug in the U.S. earlier this
“Preventive cardiology is un- tastic,” Nidorf says. He won- month at a list price of $99 a LISTEN NOW
dergoing a renaissance,” Blaha dered if a drug that had such a month. It is still negotiating ar-
says. “We can do more than ever rapid impact on pericarditis rangements with insurers, but
for our patients who have high 3 might be useful against athero- plans to make it available at no
risk.” sclerosis by treating arterial in- charge to anyone who can’t af-
Like Ridker, Blaha is a scien- flammation. ford it. Lacking a sales force or a
tific adviser to Agepha Pharma He recruited a group of his budget for television marketing,
but wasn’t involved in the stud- 3.0
own patients who were on sta- it began promoting the drug to
ies that led to the drug’s ap- 2 tins and had high CRP levels and cardiologists online last week.
proval. randomly allocated them to take “We’re a small company try-
colchicine or no colchicine. A ing to do big things for pa-
month later, CRP levels of those tients,” says Antonia Riel-Köll-
Hurdles to clear 1 1.O given the drug had come down mann, Agepha’s managing
Colchicine is cheap and safe and “quite dramatically,” Nidorf says. director.
would be an effective option for Nidorf was also struck by re-
1 2 3 4 5
many patients, study data indi- search describing the role of
PETE RYAN
spinal-cord injury.
The experiment provided evi-
dence that Axonis’s gene therapy
travels to its intended target,
neurons, and avoids astrocytes,
says co-founder and Chief Scien-
tific Officer Shane Hegarty. In
labs on Earth, neurons and as-
trocytes would form a carpetlike,
two-dimensional layer. This
doesn’t fully represent the
brain’s complexity and is less
useful for advancing the gene
therapy, Hegarty adds.
The implications of this re-
search are that scientists could
use patients’ own cells to create
models of their disease in space
to speed their search for treat-
ments, he says.
Restoring sight
One long-term research program
on the ISS is LambdaVision’s ef-
fort to restore vision to people
blinded by diseases of the retina,
the light-sensitive tissue at the
back of the eye.
LambdaVision has flown eight
payloads to the ISS since 2016,
says Chief Scientific Officer Jor-
dan Greco, adding that the com-
pany has found that its artificial
retina seems to come together
better in microgravity.
M
space and on Earth. whether crystals would form in 2018. The cells grew in space box. The automated system con-
Space travel, for example, is better in space. Without gravity, but took on unusual characteris- tains proteins, polymers and
EDICAL re- known to cause bone and muscle molecules move more slowly and tics that may not have a counter- solutions to assemble the artifi-
search in loss, immune suppression, cen- forces including convection cur- part on Earth, Jaminet says. cial retina layers, and cameras
space is lead- tral nervous system changes and rents are limited. Crystals pro- The findings may advance un- that let researchers monitor and
ing to ad- other effects. Detrimental as duced on the ISS were smaller derstanding of how microgravity control the process from the
vances that these effects are, they are of par- and more uniform than Earth affects astronauts, he says. But ground, Wagner says.
could help ticular interest to scientists. counterparts, Reichert says. since it appears the cells cul- Also using Space Tango is En-
patients on For the most part, health con- Such studies could lead to a tured in microgravity don’t re- capsulate, a biotech with grant
Earth. cerns astronauts develop in lower-cost version of semble normal endothelial cells, funding to launch into space bio-
Several technologies devel- space resolve when they return, Keytruda that is easier to admin- and acquired a novel pathologi- chips containing microtumors
oped for space exploration have says Dr. Christopher Austin, for- ister and cheaper to transport, cal state, it isn’t yet clear if made from patient cancer cells.
afterward contributed to medical mer director of the National Reichert says. “That would be a these cells are useful for drug The chips could predict an indi-
products. Infrared thermometers, Center for Advancing Transla- game-changer for biologics drug development. vidual’s response to drugs, help-
for example, stem from infrared tional Sciences and now CEO of delivery,” he adds. Axonis in August had good ing tailor treatment, Encapsulate
sensors created to remotely mea- biotechnology startup Vesalius luck with a project to coax two co-founder and CEO Armin Rad
sure the temperature of distant Therapeutics. Studying how this kinds of human brain cells, neu- says.
stars and planets. reversal occurs could provide in- Surprising results rons and astrocytes, to unite into When adapting scientists’
But increasingly, scientists sight on turning back the clock Sometimes space research yields a three-dimensional model of the projects for space “we have to
aim to perform research in space on disorders of aging, he adds. surprising results. brain in microgravity. It used the take the human out of it and
specifically for human health. In- Exposure to microgravity Biotech startup Angiex sought model to test a gene therapy de- stuff it all into a box,” Space
terest has grown as researchers seems to replicate the effects of to better understand how an ex- signed to restore neural connec- Tango Chief Strategy Officer
recognize possibilities enabled aging at the cellular level, says perimental cancer drug inter- tions damaged by diseases or Alain Berinstain says. Biotechs
by microgravity, in which objects Michael Roberts, chief scientific also express interest in the auto-
appear to be weightless, aboard officer of the U.S. National Labo- mated system for ground use,
the International Space Station, ratory on the ISS. As a result, in- which was unexpected, he says.
or ISS, which orbits the Earth vestigators in months can glean Selected medical technologies developed “It’s turned into a new busi-
about 250 miles from its surface. insights from studies that might ness opportunity for us,” he adds.
Removing gravity’s influence take years of research on Earth. with help from the space program The National Aeronautics and
alters biological systems, enabling “What happens in space is Space Administration plans a
experiments that can’t be done on akin to accelerated aging,” says ◀ 1970s – Cochlear implants crewed mission to the lunar sur-
the ground. Researchers are send- Arun Sharma, assistant professor An electronics instrumentation engineer from face in 2025 and eventually a
ing materials into space to study at the Board of Governors Regen- NASA’s Kennedy Space Center used experience mission to Mars. Astronauts will
treatments for cancer, heart dis- erative Medicine Institute at Ce- gained on the job to help him invent an implanted require medications for the trip,
ease, neurological disorders, dars-Sinai Medical Center, who hearing device for people with severe-to-profound and they can’t pack every drug
blindness and other conditions. says his experience with space hearing loss. they might need, says Phil Wil-
Such investigations extend be- research includes sending stem- liams, a professor of biophysics
yond civilian medicine. With cell-derived heart cells to the ISS. in the School of Pharmacy at the
preparations under way for long- University of Nottingham.
term missions to the moon, and Medications degrade faster in
eventually to Mars, scientists are Anticancer drug 1980s – Heart-assist device ▶ space because of high radiation
advancing technologies to help Meantime, companies including Collaboration among NASA, Baylor College levels, says Williams, who is
astronauts endure extended drugmaker Merck and biotech- of Medicine and Drs. Michael DeBakey and working with NASA researcher
space travel and confront ill- nology concerns Axonis Thera- George Noon, begun in the 1980s, led to Lynn Rothschild on an astrop-
nesses and medical emergencies. peutics and LambdaVision aim the invention of a device that pumps blood harmacy, a briefcase-like system
to capitalize on microgravity to for patients needing a heart transplant. enabling astronauts to produce
improve existing treatments or medications on demand.
Justifying the expense optimize experimental ones. In one version under study,
Several factors complicate space- Merck has been conducting ◀ 1990s – Infrared thermometer cellular machinery that certain
based research. The cost of experiments aboard the ISS to Technology from NASA’s Jet Propulsion microbes use to make proteins
transporting materials, for one, determine whether it can come would be combined with genetic
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