St. Paul: University of St. Thomas to appeal ruling over D1 sports arena

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A recent Minnesota Court of Appeals ruling hasn’t slowed construction of a new Division 1 hockey and basketball arena at the University of St. Thomas, after all.

University officials issued a public statement on Tuesday indicating they would appeal the Court of Appeals decision, which called the city of St. Paul’s environmental review of potential arena impacts insufficient in three key areas. Rather than work with the city on a new Environmental Assessment Worksheet, or EAW, for the 5,500-seat arena, St. Thomas will challenge the order in court, according to a statement posted Tuesday to the university’s website.

Arena construction, which was put on pause in early April, resumed in mid-June when neighbors failed to sway the St. Paul Planning Commission and then the St. Paul City Council with a series of site plan appeals. Construction at the arena site off Grand, Cretin and Summit avenues has not been put on hold again, even after the Court of Appeals decision.

“The University of St. Thomas will continue construction of the Lee and Penny Anderson Arena, as permitted by law,” read the statement from the university.

Neighbors organized under the title Advocates for Responsible Development have said the university has done little to mitigate parking concerns, a likely uptick in spectator traffic or take into account the arena’s combined impact with that of the Schoenecker Center, a $110 million science, technology, arts and math building, which opened in February almost directly adjoining the future sports arena.

A three-judge Court of Appeals panel agreed, noting the EAW listed only vague, passive and general solutions, such as monitoring event attendance for two years and “keeping the community informed of events.”

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Kennedy and West third-party ballot drives are pushed by secretive groups and Republican donors

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By BRIAN SLODYSKO Associated Press

WASHINGTON (AP) — Libertarians in Colorado want to put Robert F. Kennedy Jr. on the ballot to create chaos.

Petition drives for Cornel West in Virginia and North Carolina are being run by groups with Republican ties.

And in Arizona, a convicted fraudster who’s been repeatedly investigated for using deceptive tactics to gather signatures for conservative groups is also working on West’s behalf.

With early voting for the November presidential election set to begin in late September in some states, there are signs across the country that groups are trying to affect the outcome by using deceptive means — and in most cases in ways that would benefit Republican Donald Trump. Their aim is to to whittle away President Joe Biden’s standing with the Democratic Party’s base by offering left-leaning, third-party alternatives who could siphon off a few thousand protest votes in close swing state contests.

Spoiler candidates are as old as representative democracy. But in a polarized country in which many Americans have voiced disapproval for both Biden and Trump, the zeal with which Trump’s supporters and allies have lent assistance to third-party candidacies adds a new dimension that’s deeply troubling to Democrats.

Since his 2016 campaign, Trump has railed against the specter of voter fraud and falsely accused Democrats of “rigging” elections, which he blames for his 2020 loss, a claim rejected in more than 60 court cases and by his own attorney general. Now, it’s his allies who are pushing questionable ways to tilt the vote in his favor.

“We’ve known for years that Donald Trump can’t get 50% of the vote. His people know that. And they know they need to find ways to win. One way to do that is propping up third-party candidates,” said Josh Schwerin, a spokesman for Hillary Clinton’s 2016 campaign, which many Democrats believe she lost because the Green Party played spoiler.

West’s campaign did not respond to an email seeking comment. The Trump and Kennedy campaigns also did not respond to inquiries.

FILE – Harvard Professor Cornel West speaks, Oct. 22, 2019, in Cambridge, Mass. With early voting set to begin in late September in some states, there are signs that groups are trying to affect the outcome by using deceptive means. In most cases, in ways that would benefit Donald Trump by whittling away President Joe Biden’s already tepid standing with the Democratic Party’s base by offering left-leaning, third-party alternatives. Groups with Republican ties in Virginia, North Carolina and Arizona are working on West’s behalf. (AP Photo/Elise Amendola, File)

Democrats have focused closely this year on the threat of third-party candidates, intent on avoiding Clinton’s fate. Indicators of Republican involvement were quick to surface.

In April, The Washington Post reported pro-Trump activist Scott Presler was gathering signatures for West outside a Trump rally in North Carolina. In a video posted online, Presler described West, an academic, as a “far-left Marxist” who “if we get him on the ballot he could take a percentage point away” from Biden.

But Republican involvement in getting West and his Justice For All party on the state ballot runs far deeper.

At the beginning of June, West had been largely absent from the campaign trail and his political operation was $30,000 in debt, disclosures show. He had spent just $2,400 this year to gather the signatures needed to qualify for the ballot in states across the U.S.

But then, Justice For All submitted well over the roughly 13,800 signatures needed. State government emails obtained by The Associated Press show current and former employees of Blitz Canvassing, a Republican firm that earned millions of dollars doing work for Florida Gov. Ron DeSantis, helped West pull off the feat. The emails, previously reported by NBC News, show the employees affiliated with Blitz Canvassing were the designated representatives to pick up and drop off petitions for West’s campaign.

It’s unclear who paid the firm, which isn’t listed as a paid vendor in West’s campaign finance reports. Representatives for Blitz Canvassing didn’t respond to requests for comment.

The GOP-linked signature collection effort on West’s behalf isn’t limited to North Carolina.

Signature gatherers in suburban Washington were witnessed asking people in a Target parking lot to sign a petition to “get Donald Trump off the ballot,” NBC4 reported. The signatures were actually being collected to help get West on the Virginia ballot, and one of the workers said they would be handed off to the state GOP, the TV station reported.

Last month, more than 80 paid out-of-state signature gatherers descended on the pivotal battleground of Arizona to collect signatures for West, state records show. Many of the workers listed Wells Marketing, a mysterious Missouri limited liability company, as their employer.

The company, which didn’t respond to a request for comment, is closely affiliated with Mark Jacoby, a signature gathering operative from California with a longstanding reputation for using deceptive tactics and who was convicted in 2009 of voter registration fraud, court records show.

In 2020, Jacoby worked to gather signatures to place the rapper Ye, formerly known as Kanye West, on the ballot. Ye’s quixotic presidential campaign was widely viewed by Democrats as an effort to dilute Biden’s popularity with Black voters.

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Jacoby’s firm, Let the Voters Decide, was investigated for using dubious signature gathering tactics during a 2020 petition drive in Michigan that sought to roll back some of Democratic Gov. Gretchen Whitmer’s emergency powers during the coronavirus pandemic. No charges came of the investigation, though, in a report, state Attorney General Dana Nessel said investigators “found evidence of sleazy practices and shady activity.”

For Jacoby, it was nothing new.

He was accused in 2008 of tricking voters into registering with the California Republican Party by telling them they were signing an initiative to strengthen penalties for child molesters, the Los Angeles Times reported.

In 2006, signature gatherers told Massachusetts lawmakers that Jacoby instructed them to use deceptive tactics, like asking people to sign a petition to allow for the sale of wine in grocery stores. They were actually gathering signatures to roll back the state’s historic gay marriage court ruling, the workers testified during a hearing.

Jacoby did not respond to a request for comment.

Legal experts say West’s reliance on an army of paid signature gatherers financed by an outside party could cause him legal trouble because it could be viewed as an in-kind contribution to his campaign.

“The short answer is, yes, there is a potential issue,” said Adav Noti, a former Federal Election Commission attorney who’s now executive director of the nonpartisan Campaign Legal Center in Washington. Noti added, however, that it’s “complicated” and the success of any campaign finance complaint would heavily depend on specifics because “the law on this issue is really messy.”

West is hardly Democrats’ only concern.

Kennedy, a scion of one of America’s most storied political families, may have entered the race as a Democrat challenging Biden. But even before his break with the party deeply intertwined with his family name, he drew an inordinate amount of attention from Republicans.

Republican megadonor Timothy Mellon, himself the heir to a storied Gilded Age fortune, donated $25 million to a super political action committee supporting Kennedy, records show. Other major pro-Trump donors have followed suit, including Leila Centner, who donated $1 million to the Kennedy super PAC, as well as arch conservative donor Elizabeth Uihlein, who gave $3,300 to his campaign.

Kennedy, an avowed environmentalist, has long been a champion of liberal causes. But he also has been a leading proponent of vaccine conspiracy theories, which helped him rise to greater prominence during the pandemic and earned him admiration from conservatives like former Fox News Channel host Tucker Carlson.

Democrats are worried Kennedy still has enough left-wing star appeal that he could peel off voters from Biden. And that appears to have been part of the calculus when Colorado’s Libertarian Party reached an agreement to let him use its ballot line.

Hannah Goodman, the chairwoman for the Colorado Libertarians, did not respond to a request for comment. But in interviews posted to YouTube, Goodman, who has said she intends to vote for Trump, expressed disdain for Democrats and said she would like to give them a “taste of that medicine.”

“The idea is we could essentially leverage this to make a swing state situation and become real viable players,” Goodman said in an interview with the website Free State Colorado. “I am tired of living under a Democratic monopoly.”

Legal experts say elections will continue to be susceptible to dirty tricks and chicanery unless the more states adopt different methods of casting a ballot, like ranked choice voting, which allows voters to weight their candidate preferences.

“Unfortunately, we obviously cannot put in place a better electoral system for this year’s election, and thus have to hope that no third-party or independent candidate acts as a spoiler,” said Edward Foley, a law professor at the Ohio State University who specializes in elections.

5 popular investment trends for the rest of 2024

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Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

By Giovanny Moreano, Bankrate.com

Seasoned investors often approach markets with a long-term view, using short- and medium-term volatility to buy into the themes they believe will profit over many years. While identifying these trends is difficult, tuning out the noise can help you focus your portfolio on the winners, possibly resulting in significant gains.

Here are five of the most popular trends right now — including several themes showing significant growth potential in the rest of 2024 and beyond.

1. Generative artificial intelligence

Across industries, data scientists are exploring how to tap into artificial intelligence‘s (AI) power, from designing surgical assistants to developing tools that identify deforestation hotspots in the Amazon rainforest.

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With the arrival of generative AI, a subset of the broader technology, the pace of digital innovation has quickly accelerated. Gen AI relies on vast amounts of text to create new content in seconds, including poetry, art, music, videos and more.

In business, generative AI can enhance human creativity and productivity, transforming how we work. That’s why industry experts believe that gen AI’s arrival could be as significant as the internet. McKinsey Digital estimates that generative AI could increase global corporate profits by $2.6 trillion to $4.4 trillion annually.

For investors looking to get in on the action, exchange-traded funds (ETFs) offer an efficient and easy way to invest in AI companies, giving you exposure without buying individual stocks. Three to consider include Global X Robotics & Artificial Intelligence ETF (BOTZ), ARK Autonomous Technology & Robotics ETF (ARKQ) and ROBO Global Robotics and Automation ETF (ROBO).

2. Small-cap stocks

High-profile large-cap tech stocks such as Nvidia and Microsoft got all the attention in 2023 and early 2024, as they drove the Nasdaq and S&P 500 indexes to new all-time highs. While investors scrambled to own these momentum stocks, they mostly shunned small-cap stocks, leading to a lackluster performance from these smaller companies.

Now with more attractive relative valuations, small-cap stocks have taken investors’ interest again. Some of the best small-cap stocks offer high growth and attractive markets, even if they don’t have the deep pockets and established markets of the large caps. So investors are again looking into these lesser-known names for opportunity.

Investing in individual small caps requires a long-term perspective and a lot of research work to understand the industry and the opportunity. Plus, small-caps tend to be riskier than larger companies, since they just don’t have the same level of resources. So investors looking to ride the small-cap wave may be well-served by buying some of the best small-cap ETFs instead.

3. High interest rates

When interest rates were near zero, most people got used to earning nothing on their savings and short-term investments. But now many high-yield savings accounts and certificates of deposit (CDs) offer returns above 5 percent.

Likewise, yields on Treasury bills have jumped to multi-year highs, prompting investors to turn their attention again to fixed income. While rates are poised to fall from here, investors still have time to lock in high yields for longer terms.

Like any other investment, deciding on the best fixed-income assets depends on your financial situation and goals. For example, income from bonds issued by the federal government might be exempt from state and local taxes, resulting in significant savings for those living in states with the highest taxes.

There are also other investment strategies like building CD ladders where you put chunks of money into separate CDs with different maturity durations, like six months, one year, and two years. Doing this allows you to lessen reinvestment risk.

Before choosing fixed-income investments, consult with your financial advisor. And if you don’t have one, we’ve compiled a handy guide to help you with your search.

4. REITs

While interest rates are high now, investors are anticipating them to decline substantially in the year ahead. And this means that sectors that have been hurt by higher rates, such as real estate investment trusts (REITs), may be poised for a rebound in the year ahead as rates fall.

REITs offer the ability to own real estate without all the headaches of actually managing it yourself. REITs enjoy significant tax advantages, most notably the ability to avoid tax at the corporate level in exchange for paying out most of their income as dividends. So REITs often offer among the highest dividends of any industry.

Publicly traded REITs are among the best types of REITs to invest in, because they offer high yields, low overall management costs and the scrutiny of public investors. As mentioned, with interest rates likely to fall in the short to medium term, a key cost for REITs is poised to fall, too.

Those looking to own a fund instead of digging into the details of individual REITs should check out the best REIT ETFs and be sure to avoid some of the worst REIT investing mistakes.

5. Cash is king

With myriad challenges weighing on the market – including global tensions connected to the Hamas-Israel war, the ongoing Russia-Ukraine war, and elevated oil prices – many investors feel on edge. Closer to home, prolonged inflation, massive government deficits and ballooning student loan debt add to the concerns.

In response, investors are finding comfort in cash. Global money market funds received massive inflows as 2023 progressed and then into 2024 as well. As of Dec. 1, 2023, U.S. money market funds held a record $6.3 trillion in assets, according to the Office of Financial Research. By the end of May 2024, that figure had grown to more than $6.5 trillion.

Billionaire hedge fund managers Ray Dalio and Paul Tudor Jones have taken a similar stance, seeing cash as a safe investment vehicle amid rising rates.

As individuals and institutions reconsider their investment strategies, cash is once again king, offering liquidity and stability in turbulent times. Cash offers optionality, with the ability to invest if and when markets hit hard times.

Bottom line

While these five investing trends offer the promise of outsized returns in the years to come, nothing is fully guaranteed in investing. You may want to consult with a financial advisor before making any investment decisions.

©2024 Bankrate online. Visit Bankrate online at bankrate.com. Distributed by Tribune Content Agency, LLC.

Trump’s escape from disaster by mere inches reveals a tiny margin with seismic impact

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By DEEPTI HAJELA Associated Press

NEW YORK (AP) — Jarring, chaotic and sudden, the bullet whizzed toward the stage where former President Donald Trump stood behind a podium speaking. In its wake: the potential for a horrifying and tragic chapter in American history.

But the Republican presidential candidate had a narrow escape — mere inches, possibly less — in Saturday’s assassination attempt. The projectile from the shooter on a nearby rooftop left Trump with just a bloodied right ear, initially shaken but otherwise unharmed as he dropped down and Secret Service swarmed, his campaign continuing as the Republican National Convention got underway.

A tiny margin for survival, with a potentially seismic impact. And an unforgettable example of something many were talking about Monday — a hard truth about the events that shape us, our daily lives, and our society:

Sometimes, it’s all about chance, about circumstances falling in one direction and not another, about interventions in the nick of time or missteps that allow for disruption.

Sometimes history can come down to inches.

Near misses and the hinge of history

It’s a truth that often gets obscured as we look over dates, places, people and events with the perspective of hindsight and blanket media coverage. The past gets covered with a patina of inevitability — as if it could have only occurred the way it did.

But “what just happened to us is a kind of humbling lesson about how contingent all of this is,” says Susan Schulten, a history professor at the University of Denver. “And nothing’s foreordained.”

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No matter what, of course, there will be fallout and an impact from the attempted assassination of Trump on Saturday at a Pennsylvania rally, where an attendee was killed and two others wounded, and law enforcement killed the shooter. But what it will be, in this election year and in the years to come, will unfold differently than it would have in an America where events had gone differently.

History is filled with examples of chance, randomness or luck playing a part in how things turn out, says Mark Rank, a professor of social welfare at Washington University in St. Louis and author of “The Random Factor: How Chance and Luck Profoundly Shape Our Lives and the World around Us.”

In his book, he recounts an incident during the Cuban Missile Crisis of 1962, when a submarine from what was then the Soviet Union came close to firing a nuclear-tipped torpedo at U.S. forces out of a belief it was being attacked. But a circumstantial delay in getting the order carried out allowed enough time for another officer to recognize that wasn’t the case.

There are plenty of other moments where there can be endless “what-if” discussions, from assassinations of figures like Abraham Lincoln and John and Robert Kennedy to other attempted killings such as the attack on President Ronald Reagan in 1981, two months after he assumed the presidency.

It’s also events like the Sept. 11 attacks in 2001, Rank points out, when there were ordinary people who “missed their subway connection or were late or were early and just missed being killed in that disaster, whereas other folks were not as lucky.”

Trying to find meaning

Often, people respond to events like these by trying to make sense of them through a belief in coherence — to summon some kind of universal meaning, or divine plan.

That’s because people want a sense of control, says Daryl Van Tongeren, a professor of psychology at Hope College in Michigan. It’s too unnerving, he says, to admit that life is random and chance-filled. “It’s safer for us to think that we can just control everything that happens.”

And in the United States of America, where part of the national mythology is the idea that we are masters of our own destinies — that we can pull ourselves up by our own efforts — the idea of randomness can land as particularly unnerving, Rank says.

“In the United States, we’re really steeped in the idea of rugged individualism and self-reliance and meritocracy and you do it on your own, and you’re in control, and you have agency,” he says. “And to some extent, we are in control. We do make decisions. But another aspect of life is that … there are things that happen to you that you have no control over.

“That’s kind of unsettling,” he says. “But that’s the way life plays out. That’s the world.”