Bret Stephens: Donald Trump’s assault on capitalism

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Ask an American conservative what makes America great, and at least until about a week ago, he might have said that, among other virtues, it’s a country in which the government stays out of the business of getting in business.

Yes, there are exceptions — Fannie Mae and Amtrak come to mind — but their record of mismanagement and mediocrity would prove the conservative’s point. Other democratic countries have government-controlled champion enterprises, and some of them, like the Airbus consortium in Europe, sometimes do well. Yet the heavy hand of the state tends to lead to problems over time, including corruption, inefficiency and a reluctance to let bad companies fail.

But American conservatism under President Donald Trump is changing into something unrecognizable, at least to those of us (silly us!) who thought the movement had guiding principles beyond getting, wielding and abusing power. Umpteenth case in point: The federal government becoming an equity shareholder in Intel.

This month, Trump called for the resignation of Lip-Bu Tan, Intel’s new CEO, based on vague allegations that he had invested in Chinese technology companies that U.S. officials say have links to China’s military. (Tan is a U.S. citizen who was born in Malaysia and raised in Singapore.) Trump also decided to convert nearly $9 billion in government funding promised to Intel under the 2022 CHIPS Act, a piece of industrial policy intended to boost the U.S. semiconductor manufactures, into an equity stake.

“You know what? I think the United States should be given 10% of Intel,” Trump says he told Tan in a White House meeting Friday. Tan speedily agreed. On Monday, Trump boasted on social media that he would “make deals like that for our Country all day long.”

If a Democratic president did this to Tan or any other American CEO, Republicans would call it a political shakedown, an assault on capitalism, a loser for taxpayers. They’d be right. Intel, which had a $500 billion market cap at the turn of the century, is now at $107 billion. What’s to keep it from going lower and taking taxpayers down with it?

As for other arguments for investing in Intel — that it’s systemically important to the U.S. economy (as the banks were in the 2008 financial crisis), that it’s vital for national security (as the critical minerals industry is today), that it’s a symbol of American industrial might (as, arguably, Boeing is) — none of them hold water. The ecosystem of American chipmakers, from Nvidia to Micron to Qualcomm, is thriving. With about 110,000 workers worldwide at the end of last year, Intel pales in comparison with the largest U.S. companies. If Intel were to fail, or stagger along for years to come, it would simply join the long gray line of America’s corporate has-beens, from Sears to Chrysler to IBM to General Electric.

Instead, Intel is about to become something much worse: a precedent.

In a news release, the company insisted that the government’s stake will be “passive ownership, with no board representation or other governance or information rights.” That’s like letting a tiger into your house on the solemn promise that it won’t raid the fridge or eat your children. Intel will now join the stable of other cowed and compliant corporations, universities and law firms living in fear of the next Truth Social post, funding revocation or regulatory obstruction. And that’s to say nothing of the FBI searches that could await those unlucky enough to have once served Trump with insufficient servility.

Republicans now cheering Trump for his daily Big Dog performance should at least wonder what the consequences for America’s economic freedom and competitiveness will be once he makes America statist again. Trump’s personalized control of ever-broader swaths of the economy based on ever-thinner pretexts is the beginning of a long trend with neither a political check nor a limiting principle.

Especially since ever-greater government control of private enterprise is usually a progressive goal, not a conservative one. A current of neosocialism now runs through parts of MAGA land, particularly among those who confuse Catholic social teachings with economic reality. This crew should remember that in democratic politics, two can play the game. What the Trump administration did to “60 Minutes” could be done by a left-wing administration to Fox News or Newsmax. And what Trump is doing with Intel could soon become a template for dozens, if not hundreds, of U.S. companies in which Uncle Sam demands a golden share.

Last year, I said that Republicans would regret a second Trump term and that principled conservatives should not imagine he’s on their side. To them one can only say: It’s going to get worse.

Bret Stephens writes a column for the New York Times.

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As The Lexington turns 90, a public celebration and a new chef

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In the restaurant business, it often seems like the only constant is change.

Chef Lawrence Kirkland of The Lexington on St. Paul’s Grand Avenue has a résumé that includes being a private chef for NFL players and helming the kitchen at 801 Fish in Minneapolis. (Courtesy of The Lexington)

Although The Lexington has remained a stable force in the St. Paul culinary scene for nearly a century, it has endured, and continues to endure, a constant churn behind the scenes.

As the restaurant approaches its 90th anniversary, the staff is planning for a big blowout event (you’re invited, too!) with a new chef and ownership that has shuffled again in the past few years.

Chef Lawrence Kirkland, who started just a few months ago, is still getting his sea legs running the 22,000-square-foot restaurant and event space, making small changes to the dessert menu and running seafood specials that hint at new items that he might add to the main menu. As if that isn’t enough, he’s been in charge of creating an event menu that includes a giant seafood tower, a grazing table, and a whole host of passed appetizers.

The anniversary event will take place from 5 to 9 p.m. on Tuesday, Sept. 9, at the restaurant. Each space will have a theme, from a “bubble room” sponsored by Veuve Clicquot to a “barrel room” featuring The Lexington’s own barrel of 2XO whiskey to a “red room” with Orin Swift wines. There will also be a cigar and Scotch experience on the rooftop patio — the first 30 guests will receive a complimentary hand-rolled cigar dipped in Dalmore scotch.

There will be live vintage jazz from Debbie Briggs, displays of restaurant artifacts hauled upstairs from the Lexington’s labyrinth-like basement and costumed historians offering guided tours of the building. Tickets are just $50 and are available at thelexmn.com.

Also at that link, there’s a place for guests to share stories and photos from their visits to The Lex over the years.

“When ownership has changed hands over the years, it’s been basically a handshake and ‘here’s the keys,’” said general manager and COO Craig Ritacco, who is a new addition to the ownership group in the past few years. “Not a lot of work has been done to collect that history. We’d love people’s stories and photos to help fill that out.”

Ritacco was hired by the late chef Jack Riebel, whose tenure as a co-owner coincided with the massive remodel and 2017 relaunch of the restaurant after it was closed for a few years. After Riebel’s 2021 death, partners Josh Thoma and Kevin Fitzgerald were bought out. And in 2024, Ritacco was invited to join the ownership group, adding COO to his general manager title.

Craig Ritacco, general manager and COO of The Lexington on St. Paul’s Grand Avenue. (Courtesy of The Lexington)

Ritacco is a history buff, so The Lex is an obvious fit for him. It’s also what makes him so excited to celebrate the longevity of the storied restaurant.

He has brought some of the history to the forefront of the space, adding vintage photos to the foyer and framing Riebel’s chef coat and hanging it just inside the doors.

“When I went to visit him just before he passed, Jack said, ‘You know, you have to take care of the place, keep it going,’” Ritacco said. “And sometimes I sit in the chair across from his chef’s coat and chat with him about how things are going.”

There’s been a lot of talk about The Lex being haunted, but for Ritacco, it’s more about living out the legacy that so many before him have created.

“The Lexington is bigger than just one person,” he said.

Kirkland, whose eclectic résumé includes working as a private chef to an NFL offensive lineman and most recently helming the kitchen at 801 Fish in Minneapolis, says he’s honored to be a part of the legacy and is taking menu changes slowly.

“I know I have to put my stamp on it, but I’m trying to do it delicately,” Kirkland said. “There’s a ton of history here. The classics might need to be revamped a little bit, but I don’t want to make too many changes too fast.”

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Today in History: August 28, Emmett Till’s brutalized body found

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Today is Thursday, Aug. 28, the 240th day of 2025. There are 125 days left in the year.

Today in history:

On Aug. 28,1955, Emmett Till, a Black teenager from Chicago, was abducted from his uncle’s home in Money, Mississippi, by two white men after he had allegedly whistled at a white woman four days prior; he was found brutally slain three days later.

Also on this date:

In 1845, the first issue of “Scientific American” magazine was published; it remains the oldest continuously published magazine in the United States.

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In 1862, the Second Battle of Bull Run began in Prince William County, Virginia, during the Civil War; the Union army retreated two days later after suffering 14,000 casualties.

In 1898, pharmacist Caleb Bradham of New Bern, North Carolina changed the name of the carbonated beverage he’d created five years earlier from “Brad’s Drink” to “Pepsi-Cola.”

In 1957, then U.S. Senator Strom Thurmond (D-South Carolina) began what remains the longest speaking filibuster in Senate history (24 hours and 18 minutes) seeking to stall the passage of the Civil Rights Act of that year.

In 1963, during the March on Washington, the Rev. Martin Luther King Jr. delivered his “I Have a Dream” speech before an estimated 250,000 people in front of the Lincoln Memorial in Washington, D.C.

In 1968, police and anti-war demonstrators clashed in the streets of Chicago as the Democratic National Convention nominated Hubert H. Humphrey for president.

In 1988, 70 people were killed when three Italian Air Force stunt planes collided during an air show at the U.S. Air Base in Ramstein, West Germany.

In 2005, New Orleans Mayor Ray Nagin ordered a mandatory evacuation as Hurricane Katrina approached the city.

In 2013, a military jury sentenced Maj. Nidal Hasan to death for the 2009 shooting rampage at Fort Hood that claimed 13 lives and left 30 people injured.

In 2016, six scientists completed a yearlong Mars simulation on the big island of Hawaii, where they emerged after living in a dome in near isolation on Mauna Loa.

Today’s Birthdays:

Actor Ken Jenkins (TV: “Scrubs”) is 85.
Former MLB manager and player Lou Piniella (pih-NEHL’-uh) is 82.
Former MLB pitcher Ron Guidry (GIH’-dree) is 75.
Former U.S. Poet Laureate Rita Dove is 73.
Artist Ai Weiwei is 68.
Actor Daniel Stern is 68.
Olympic gold medal figure skater Scott Hamilton is 67.
Actor Jennifer Coolidge is 64.
Film director David Fincher is 63.
Country singer Shania (shah-NY’-uh) Twain is 60.
“Pokemon” creator Satoshi Tajiri is 60.
Actor Billy Boyd is 57.
Actor Jack Black is 56.
Hockey Hall of Famer Pierre Turgeon is 56.
Actor Jason Priestley is 56.
Olympic gold medal swimmer Janet Evans is 54.
Actor Carly Pope is 44.
Country singer Jake Owen is 44.
Country singer LeAnn Rimes is 43.
Rock singer Florence Welch (Florence and the Machine) is 39.
Actor Quvenzhane (kwuh-VEHN’-zhah-nay) Wallis is 22.

Concert review: A reunited and reinvigorated Linkin Park thrills Target Center crowd

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It was clear from the start Wednesday night at Target Center that Linkin Park’s fans were more than ready for the band’s triumphant return.

The crowd cheered wildly as each member of the rap rock group took the mostly darkened stage and then erupted once they launched into the first song of the night, “Somewhere I Belong.” By the time they got to the third number “Crawling,” the energy exploded once again as the audience sang along with glee.

The last time we saw Linkin Park in town was 11 years ago, nearly to the day, at the Minnesota State Fair Grandstand. But the 2025 Linkin Park didn’t look quite the same.

Lead singer Chester Bennington died by suicide in 2017, a week before the North American leg of the band’s tour was set to start. The following year, vocalist/rapper/multi-instrumentalist Mike Shinoda said he had every intention on continuing the group, but gave no timetable, saying at the time that “we have a lot of rebuilding to do.”

In 2023, the band reunited with a new lead singer, Dead Sara vocalist Emily Armstrong. Drummer Rob Bourdon chose not to participate and Colin Brittain stepped in to take his place. Lead guitarist Brad Delson played on LP’s first album with Armstrong, 2024’s “From Zero,” but chose not to tour while saying he may change his mind in the future. Alex Feder is serving as his live replacement.

Even though half of the six band members were new, they still very much conjured the raw intensity and spirit of Linkin Park Wednesday night. It felt odd, yet promising, when the band took on a woman in a genre that’s almost exclusively male. But once she started to sing Wednesday, it was obvious why they hired her. She’s got an amazingly powerful voice and the ability to effortlessly transition from melodic singing to fierce growling.

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No, she doesn’t sound like Bennington, but that’s a good thing. She brings a freshness to a band that enjoyed a successful 17-year run tragically cut short and followed by a seven-year hiatus. Armstrong didn’t feel the need to hog the spotlight, either, with Shinoda now effectively acting as the band’s leader.

For two hours, LP surveyed each era of their history from their multi-platinum 2000 debut “Hybrid Theory” through the well-received “From Zero.” Indeed, two of the recent singles with Armstrong, “The Emptiness Machine” and “Up from the Bottom,” were highlights of the first hour. So was “The Catalyst,” an epic that started as a hard-edged techno thriller and turned into a power ballad that got the crowd waving their arms in the air.

Middle-aged fans who were there from the start made up a large part of the crowd, but many brought their kids. At one point, Shinoda jumped off stage and slapped hands with fans. He found one who appeared to be in grade school and gave him his hat, which the band had all signed. And that kid looked like he was in heaven.

Second acts can be tough to pull off in rock music, especially when there are new faces involved. Linkin Park seems to have pulled it off with ease and there was a real sense of both purpose and joy radiating from the stage.

Shinoda also took a moment to acknowledge the mass shooting Wednesday morning that left two children dead and 17 people injured at Annunciation Church in south Minneapolis. He said he knew what it was like to pick up the pieces after a tragedy, dedicated the show to the “loving, resilient city of Minneapolis” and said he hoped a night of music would bring a positive light in a time of darkness.