my demands that philly city council pass legislation requiring all supermarkets to have red & white floor tiles and throw down hay when it rains have weirdly not been taken up.

Bowling pins around a bowling ball labeled "strike!" Red text: HGSU on strike! Join us on the picket line! Tuesday April 21 starting at 8:30 am, Harvard Science Center Plaza

Harvard grad workers are on strike! Get to the picket! 🌹

NYC pensions' $4B housing plan raises affordability questions - PitchBook Comptroller Mark Levine's new initiative will use pension fund money to invest in affordable housing, but there's a risk the plan could have the opposite effect than intended.

"a key issue is the mechanism for investing the money. Closed-end funds...They have a finite life, after which the fund manager is expected to sell the houses for a profit... The loophole allows property owners to use a “qualified contract” to exit their investments at the 15-year mark..."

A brief history of rentierism An interview with Brett Christophers, author of 'Rentier Capitalism: Who Owns the Economy, and Who Pays for It?'

The Fairness Foundation‬ @fairness.bsky.social‬ does really important work. It was a privilege to get to talk to them about asset manager power and rent extraction in housing and infrastructure

www.faircomment.co.uk/p/a-brief-hi...

Communists Helped Build the Mighty New York Hotel Union Before they faced fierce repression from the US government at the outbreak of the Cold War, early 20th-century Communist labor organizers helped build the New York hotel workers’ union into one of the...

I was interviewed in Jacobin (by @jennyhunter.bsky.social) about "We Always Had a Union."

jacobin.com/2026/04/comm...

USA Rare Earth to Buy Brazil’s Serra Verde in $2.8 Billion Deal USA Rare Earth Inc. agreed to acquire Brazil’s Serra Verde Group in a $2.8 billion cash-and-stock transaction, marking one of the largest deals in the rare-earths industry.

www.bloomberg.com/news/article...

Today's the day!

Slide from USA Rate Earth's presentation for the acquisition of Serra Verde. Highlighted text says: Broadens Relationship with the U.S. Government Including Offtake and Price Floors • Further strengthens USAR’s relationship across multiple USG agencies, including the U.S. Department of Commerce2 (“DOC”), the U.S. Department of Energy, the U.S. International Development Finance Corporation (“DFC”) • Includes a 15-year offtake agreement that Serra Verde has entered into with a special purpose vehicle capitalized by various USG agencies, as well as private capital sources (the “SPV”) with price floors for Neodymium (“Nd”), Praseodymium (“Pr”), Dysprosium (“Dy”) and Terbium (“Tb”) • Also includes a $565mm financing arrangement Serra Verde has with the DFC

The latest in the rare earth wars

www.sec.gov/Archives/edg...

This Data Center Is Getting a $77 Million Tax Break to Create One Job No other project in the country has gotten such a large subsidy to create so few jobs, according to watchdogs.

NEW: In return for nearly $77 million in tax breaks, the expansion of a JPMorganChase data center in Orangeburg, NY promises to create exactly one permanent job.

The subsidy is the largest of its kind, per job, in the country.

PE hopes garage door roll-ups will be the new HVAC - PitchBook HVAC businesses proved to be one of the best roll-up opportunities in PE, and garage door suppliers share many of the same characteristics.

“garage door roll-ups” 🙄

this probably ends with locking home owners out of their garages unless they pay for a software update on the opener.

“The quantum threat is neither imminent nor insurmountable,” said Lyman, who recently served as a senior adviser and chief speechwriter to Treasury Secretary Scott Bessent. “To all the panicans in the digital asset community, they just need to remember that it’s gonna be OK.” Lyman pointed to the price of bitcoin, which barely budged following the Google paper last month, as a sign that the market is already pricing in the potential quantum upheaval. But he readily acknowledges that the risk needs to be headed off sooner rather than later.

stop pretending this a real word!

www.politico.com/newsletters/...

But they have also argued that it was President Trump’s decision to attack Iran that entangled their country in a destructive conflict whose effects may not be over, some of the officials said. Emirati officials told the U.S. officials that if the U.A.E. runs short of dollars, it may be forced to use Chinese yuan or other countries’ currencies for oil sales and other transactions, some of the officials said.

Emiratis are threatening to use petroyuans.

www.wsj.com/world/middle...

The narrative of banks vs private lenders obscures the complex relationship between the two.

🔴 Sánchez anuncia que este martes el Gobierno llevará a Europa la propuesta de que la Unión Europea rompa su acuerdo de asociación con Israel: "Aquel gobierno que viola el Derecho Internacional no puede ser socio de la Unión Europea"

The coming global food crisis Hunger and even famine are foreseeable consequences of the war on Iran. Now the world must act to shield the poorest from effects that will continue long after the fighting stops

The coming global food crisis ft.trib.al/hZg0yxi

Anthropic chief Dario Amodei: ‘I don’t want AI turned on our own people’ The tech entrepreneur on Claude Mythos, repercussions from the Pentagon dispute — and his message for the super-rich

"“We’re excited for the US government to use this technology,” he says, suggesting it could help “dissolve” authoritarian regimes. “But I don’t want it turned on our own people or used for undemocratic ends""

Unreformed Silicon neocon: 'Democratic' is when the US government does it to other people.

The play here is the rapidly depreciating media rights that create accounting losses.

Exclusive | San Diego Padres Nearing Deal to be Sold for an MLB-Record $3.9 Billion Private-equity billionaire José E. Feliciano and his wife, Kwanza Jones, would acquire the team for nearly $1.5 billion more than Steve Cohen paid for the New York Mets in 2020.

We‘re rapidly approaching the point where all sports franchises will be held by PE/HF types for tax avoidance (and maybe prestige) purposes.

I would never normally post a LinkedIn link but this bit on private equity from Ludovic Phalippou is 👌

This is why I think Labour has totally lost its bearings trying to push pension funds to put more into private markets.

www.linkedin.com/posts/ludovi...

New York City’s super-rich are up in arms over a new tax on second homes proposed by mayor Zohran Mamdani and state governor Kathy Hochul. Hedge fund billionaire Daniel Loeb accused the mayor of “stirring up class warfare” in a post on X. He also said Mamdani was “doxxing” the investor Ken Griffin, whose $238mn Manhattan penthouse was featured in a video accompanying the unveiling of the new tax plan on Wednesday.

lmao. c'mon.

giftarticle.ft.com/giftarticle/...

Mr. Mamdani's tax returns contained none of the splash of some of his predecessors', particularly those released by former Mayor Michael R. Bloomberg, a billionaire whose staff would every year usher the media into his accountant's office, where they would learn how many homes he owned (at one point, they numbered 12). Mr. Mamdani, in contrast, lived with his wife in a rent-stabilized apartment in Astoria in Queens before moving to Gracie Mansion in January. His financial disclosure statement also said he owns property in Uganda. The tax returns for Mr. Bloomberg's successor, Bill de Blasio, were more anodyne. During his first year as mayor, Mr. Mamdani's predecessor, Eric Adams, put off releasing his tax returns for months, a situation he blamed in part on his hiring an accountant who he said subsequently became homeless. He ultimately released them that October.

The four kinds of NYC mayor.

The Warehouse, in Plain Sight That concrete box off the freeway wasn’t designed for storage so much as capture. It’s a disappearing machine. We need to see it clearly.

Why is ICE buying so many warehouses, and what does this have to do with the warehouse's shifting place in the US economy? In Places Journal, I chronicle the long arc of Warehousing's carceral geography and the speculative building boom that ICE is absorbing. placesjournal.org/article/the-...

Please be advised that train speeds have been reduced due to temperature-related speed restrictions, and delays are expected. Please check Amtrak.com train status for up-to-date arrival times. We apologize for any inconvenience.

It’s mid-April and we’re already having heat-related Amtrak issues.

Eyal Weizman · All they will find is sand: Gaza’s Yellow Line Most of the Gaza Strip – cities, refugee camps, schools, universities, mosques, the health infrastructure, agriculture...

"The image of luxury towers constructed above mass graves . . . embodies the logic of 21st-century genocide. The Israeli government now hopes, in the words of the former minister Ron Dermer, that what ‘two years of war did not accomplish will be done by market forces’."

Tragedy of the horizon on steroids: the green transition and credit ratings How do financial markets influence the green transition? Advocates of harnessing markets to foster the green transition claimed that market rationality is a reliable mechanism to channel investment...

Publication alert! 🔔

My new article in @ripejournal.bsky.social shows that the way in which credit ratings assess climate risks is detrimental to chances of the green transition.

www.tandfonline.com/eprint/DEWKJ...

1/n 🧵

The tax-focused hedge fund craze taking over Wall Street New breed of products from firms such as AQR and Quantinno has soared in popularity, raising regulatory concerns

“tax alpha”, “tax aware.” the arms race for tax avoidance euphemisms is upon us.

🚨 Took a look at FAR TOO MANY Form ADV disclosures to try to work out which asset managers are managing all the SWFs for Alphaville. www.ft.com/content/c411...

WSJ Opinion piece screenshot. Text says: Eric Swalwell, Revolutionary His scandal is another product of the sexual anarchy bequeathed to us by the 1960s. By Barton Swaim April 15, 2026 5:04 pm ET

well, that's a take.

Operator Your next question comes from Brian Bedell of Deutsche Bank. Brian Bedell So a question on -- I mean, it's a 2-parter, one for Martin and then one for Larry. But it's around organic base fee growth and scaling that. So beta has always been your best sort of incremental margin opportunity. But as you grow the organic base fee growth faster, do you see a better ability to scale that over time? And are you seeing more demand from outside the U.S. Like you said, there was an incremental shift towards non-U.S. Are you seeing that continuing? And then if you could just comment on the nice expansion in the base fee rate, but if you can comment on what you're seeing as the exit base fee rate for the quarter. I don't think I heard that.

No one tortures the English language quite like sell-side analysts.

Happy Tax Day, New York. We’re taxing the rich.