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Tag: economic impact

  • Commentary: For Sacramento State, visions of football glory clouded in fuzzy math

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    The USC football schedule this year starts with a vacancy. The Trojans plan to welcome an opponent to be determined to the Coliseum on Aug. 29, and Sacramento State would love to be that opponent.

    “We’re trying,” Sacramento State President Luke Wood said Monday.

    Wood announced last week that the Hornets had jumped into the Football Bowl Subdivision, the upper tier of NCAA Division I football, and what more glamorous way to make an FBS debut than against the most storied team in California?

    Wood called the Hornets’ move to join the Mid-American Conference in football “a calculated business decision that would provide our university with the greatest possible exposure.”

    However, the $975 million he trumpeted in economic impact over the next five years appears unsupported by a study from a consulting firm Wood thanked publicly, primarily because of its reliance on a metric dismissed by experts as flawed and outdated for more than a decade.

    The metric is called advertising value equivalency (AVE), cited by Collegiate Consulting in its study as the basis for the lion’s share of the claimed economic impact: $600 million over five years from broadcast exposure. Sacramento State provided The Times with a copy of the study.

    In a post on social media late Monday, Collegiate Consulting explained the figure Wood had instead announced for economic impact from broadcast exposure: $675 million over five years, citing what the firm said was the MAC average annual valuation of $135 million.

    “You’re trying to put a dollar value on something you don’t easily have a price tag on,” said Holy Cross economics professor Victor Matheson, past president of the North American Assn. of Sports Economists.

    Collegiate Consulting did not respond to messages seeking comment.

    The premise of AVE is simple: An advertisement has a cost, so the value of publicity in any form — say, dozens of references to Sacramento State in a three-hour ESPN game — can be calculated in relation to the cost of an ad.

    “The industry moved away from AVE a long time ago,” said Sal Della Monica, executive vice president of strategic integration and marketing at MikeWorldWide, an international public relations firm. “It’s absolutely outdated, and not a real indicator of economic value.”

    If someone sees Sacramento State on TV, that’s exposure. If someone then buys a ticket to a Sacramento State game, or enrolls at Sacramento State, that’s economic impact.

    “We expect the exposure would generate revenue through corporate partners and ticket sales and merchandise, all those types of things,” Sacramento State athletic director Mark Orr said, “from national audiences seeing Sacramento State on their television.”

    Said Matheson: “They’re conflating appearing on TV and losing 52-7 to Bowling Green with a targeted ad designed to actually bring people to Sacramento to spend money and spend tuition dollars. They are conflating just being on TV with actual advertising.”

    Della Monica said today’s sophisticated metrics allow for economic impact to be traced to its source rather than broadly estimated in advance — for instance, if you bought a ticket based on a TV promotion that required a click to redeem.

    Isn’t a televised football game in itself a three-hour advertisement for the school? Yes, but …

    “We saw you on ESPN, and now we want to sponsor you?” Della Monica said. “That isn’t how sports sponsorships work.”

    Even Russell Wright, the founder of Collegiate Consulting, acknowledged to CBS Sports that economic impact estimates by themselves are of limited use.

    “Unless there’s something actionable after the fact it’s not really economic impact, it’s more economic valuation,” Wright said.

    Wright told CBS that Wood’s $675 million estimate of broadcast-related economic impact was “not anywhere in our report.” (It’s not.) Wright also said Wood’s $975 million estimate of total economic impact mischaracterized the study.

    Wood said he simply took the one-year estimate in the study and multiplied it to account for Sacramento State’s five-year agreement with the MAC. He said he was baffled by Wright’s comment.

    “I wonder how that was asked of him,” Wood said. “Over five years is exactly what I said.

    “I’m a professor. I’ve done economic impact studies. Multiplying that number by five years is perfectly appropriate.”

    That adjective would not apply to a public skirmish between the president of the university and the consultant that conducted the study commissioned by the university.

    Cal State campuses in Long Beach, Fullerton and Northridge dropped football to save money decades ago, and today each campus enrolls more students than Sacramento does. For Wood and Orr, the football upgrade in Sacramento nonetheless represents a play to increase enrollment — particularly from out-of-state students that pay higher tuition — and engage a region with almost 3 million residents and limited sports options.

    “It’s us and the Kings,” Wood said.

    UC Riverside, in a larger metropolitan area, also dropped football long ago but jumped into Division I and the Big West Conference for its sports in 2000. The school billed itself as the Inland Empire’s Division I home team, but community and donor support languished, and the basketball teams still play in a student-funded gym designed as a student recreation center.

    Wood envisions crowds of 20,000 in a new or renovated stadium, at a cost estimated in the study from $171 million to $300 million. Sponsorship revenue is up 300 percent, Orr said – to $1.7 million.

    Orr said the models are Boise State and James Madison, not USC.

    What the Hornets want from USC is not a rivalry, just the $1 million or so the school would pay Sacramento State for what the Trojans would assume would be an easy win. The Hornets’ budget cannot work without those kinds of games, year in and year out.

    There is a narrow but viable lane to success here, but the chances decrease as talk of profits and losses outpaces talk of wins and losses.

    Sacramento State is running a deficit. The athletic department is paying $23 million over five years to move its football team into the MAC and paying travel costs for league opponents to play in Sacramento. Student fees and university funds subsidize intercollegiate sports; those two sources comprised 87% of Sacramento State’s 2024 athletic budget, according to Knight Center data. (The average figure for MAC schools: 66%.)

    The skeptics only get louder with billion-dollar claims of economic impact.

    “My usual rule of thumb is, move the decimal point one place to the left,” Matheson said. “But, man, when it comes to this advertising stuff, probably move it two or three.”

    The way Wood sees it, it might be an audacious vision, but why not? Nowhere else in America can you find a media market so large with neither an NFL nor an FBS team.

    “If we were in any other part of the country, what we are doing would not work,” Wood said.

    In this one? Check back in five years. In the meantime, they’ll fight on, particularly for that USC check.

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    Bill Shaikin

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  • Cantor: Report warns of major flood risk for Long Island economy | Long Island Business News

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    It’s hard to believe it’s been 13 years since —once a Category 3 hurricane with 115 miles per hour winds—slammed into as a Category 1 hurricane with 80 miles per hour winds, leaving in its aftermath billions of dollars of devastating damages.

    While hurricane damages are often caused by wind and rain, Sandy’s wrath was that, along with up to eight inches of rain it dropped across some areas of Long Island. A storm surge of up to 12.65 feet above normal tide level damaged or destroyed nearly 100,000 homes, with more than 2,000 no longer inhabitable. was underwater, and the South Shore of Long Island from Long Beach to Montauk had to withstand the coastal damage that the storm surge brought.

    While the “once in 100-year storm” came and went, the region is still processing how to prevent another financial fiasco should another “superstorm” make landfall on Long Island. LiRo-Hill GIS services just-issued report illustrates the economic consequences if we don’t.

    LiRo found that in the Federal Emergency Management Agency designated Long Island flood zones, 34,178 of Long Island’s nearly 100,000 businesses could risk significant economic loss from flooding should another significant storm hit the region. Of the 34,178 businesses, 7,360 were considered very high risk or high risk, generating $8.6 billion in revenues and employing 81,652 employees. While another 26,818 businesses were considered medium risk, they can’t be disregarded because they do employ 200,272 Long Islanders and generate $32.6 billion in revenues.

    These risks can’t be overlooked since the total revenue of $41.2 billion in revenue are approximately 17% of Long Island’s Gross Regional Product. A very significant economic consideration. As are the 281,924 potentially impacted employees which account for 20.6% of the 1.365 million Long Island jobs. With the per capita income in of $88,816 and of $104,873, the lost from lost wages would average approximately $27 billion. While these are worst-case scenarios, the financial impact of the risk to Long Island can’t be discounted either. That risk wasn’t overlooked by New York State Comptroller Thomas DiNapoli, as noted in his recent report on and Resiliency in New York State.

    Citing data from the National Oceanic and Atmospheric Administration, DiNapoli found that Suffolk County experienced the highest number of severe weather events between 1996 and 2024 of all New York counties with 1,751. Nassau County was 22nd with 899. Additionally, between 1978 and 2024, Suffolk County was named in 36 disaster and emergency declarations while Nassau County was named 31 times, making Suffolk County and Nassau County the 3rd and 7th most impacted counties, respectively, in New York State. As for payouts from the National Flood Insurance Program, between 1978 and 2024, Nassau County and Suffolk County were first and second, respectively, in New York State. While Suffolk County, is geographically larger than Nassau County, the latter is more densely populated which explains why Nassau had nearly $2.3 billion in flood damage claims followed by Suffolk with $1.1 billion.

    Now is the time to implement flood damage preventing infrastructure. Considering that Suffolk has 980 or 37.3% of New York State coastline miles, with Nassau having another 60 miles, gambling against another storm or severe weather event and its financial risks, and human impact, seems unwise.

     

    Martin Cantor is director of the Long Island Center for Socio-Economic Policy and former Suffolk County economic development commissioner. He can be reached at [email protected].


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    Opinion

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  • Study finds flooding could impact 27,000 Long Island businesses | Long Island Business News

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    THE BLUEPRINT:

    • finds 27,000 businesses face flood risk.

    • Nearly 7,000 firms in high or extreme risk zones employ 58,000 people.

    • Businesses in extreme, high or moderate risk zones total over $42 billion in sales.

    • urges action to reduce economic losses from severe .

    Severe flooding could threaten the economic stability of more than 27,000 Long Island businesses, which fall into moderate to extreme risk categories, according to a new analysis.

    Commissioned by the (LIRPC), the study was updated to include business communities along the North Shore and inland waterways such as the Nissequogue River.

    The study, which ranked businesses from negligible to extreme risk, found nearly 7,000 companies employing more than 58,000 people in the high or extreme risk categories, representing more than $11 billion in annual sales.

    Conducted by LIRO GIS, the study also pinpoints the communities in each county likely to be hardest hit.

    “As we have seen several times in just the last 18 months alone, the devastation from severe flooding brought about by heavy rainfall presents the potential for severe economic loss along our coastal communities,” John Cameron, LIRPC chair, said in a news release about the study.

    “This important study provides a tool for all levels of government and the private sector to develop strategies to minimize the risk,” Cameron added.

    In , a total of 17,395 businesses were at risk. These businesses total nearly $27.5 billion in annual sales and employ 131,522 people, according to the study. Freeport, Valley Stream, Oceanside, Wantagh, Lynbrook, Inwood, Long Beach, Bellmore, Merrick and Cedarhurst were identified as the 10 communities, based on annual sales volume, that would be most impacted.

    In , a total of 9,843 businesses were at risk. These businesses total more than $15.1 billion in sales, and employ 74,800 people, according to the study. Bay Shore, Lindenhurst, Oakdale, Babylon, West Islip, Port Jefferson, Halesite, West Babylon, Islip and East Quogue were identified as the 10 communities were identified as the 10 communities that would be most affected.

    The study, which includes an interactive map to break out the impact on individual communities, is available here.


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    Adina Genn

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  • AllianceTexas sees massive increase in international trade, state report says

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    AllianceTexas, the 27,000-acre business hub ini north Fort Worth , handled about $834 million in international trade in 2024, according to a report release Monday by the state comproller’s office.

    That’s a roughly 405% increase from 2023, and an over 550% increase from 2016, according to the report.

    Alliance has always been ahead of the curve, acting State Comptroller Kelly Hancock said during a small gathering to announce the numbers.

    While figures from Alliance developer Hillwood estimated the campus has generated around 66,000 jobs for North Texas, the state’s data indicate the that number is closer to 136,780.

    Hancock noted those jobs include businesses outside the AllianceTexas development that support businesses located in the corridor.

    Without Alliance, those jobs wouldn’t be there, he said.

    The nearly 36 year-old port has anchored massive growth in north Fort Worth, attracting hundreds of businesses, thousands of homes, and generating billions of dollars in economic impact for North Texas.

    The development includes massive warehouses from Amazon and Walmart, companies on the cutting edge of autonomous vehicles and artificial intelligence development, and soon a new 450,000-square-foot film and television production campus from Yellowstone creator Taylor Sheridan.

    Hancock reflected on how the area has changed from ranch land to massive warehouses and homes powering the state’s economy.

    “We’re just getting started,” he said.

    The development’s location at the intersection of the freeways, railroads, and its airport is unique across the country, said Hillwood chairman Ross Perot Jr.

    “This is where you want to be,” he said.

    The development’s location makes it the primary point of entry for the southwestern United States due to rail networks connecting the Port of Houston to the Ports of Los Angeles and Long Beach, the report said.

    Those rail networks also enable Alliance to move roughly half of Texas’s freight tonnage, according to the report.

    Alliance also benefits from a good relationship with state and local officials, Perot Jr. said.

    “We’re working together to build the region, and if you live here we take that for granted,” he said. “If you go to a lot of cities, and a lot of states, the governor doesn’t pick up the phone.”

    Perot Jr. credited President Donald Trump’s push to increase manufacturing capactity as a major opportunity for the development.

    The key now is make sure state and local officials get a slice of that pie as companies look to locate plants in the United States, he said.

    Related Stories from Fort Worth Star-Telegram

    Harrison Mantas

    Fort Worth Star-Telegram

    Harrison Mantas has covered Fort Worth city government, agencies and people since September 2021. He likes to live tweet city hall meetings, and help his fellow Fort Worthians figure out what’s going on.

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    Harrison Mantas

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  • Long Island business group warns of shutdown toll | Long Island Business News

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    THE BLUEPRINT:

    • warns is damaging ‘s economy

    • SBA loan delays and furloughs threaten local business growth

    • Sales tax revenue declines could hurt Nassau and Suffolk budgets

    • projects stalled due to frozen federal funding

    The business advocacy group that represents Long Island’s largest owners of are warning the region’s representatives that the federal government shutdown has begun to cause “enormous economic damage.” 

    The Association for a Better Long Island (ABLI), whose members include owners of some $15 billion in properties, sounded the alarm in an open letter sent Thursday to Long Island’s four-member congressional delegation. 

    “A federal government shutdown is not a harmless administrative pause,” said Kyle Strober, ABLI’s executive director. “It is an active drain on our region’s economic .” 

    The ABLI letter outlined the impacts that the shutdown, which began on Oct. 1, is already causing or will shortly be triggering in several sectors of the economy.  

    Among those are the strain on due to the anticipated reduction in consumer spending caused by economic uncertainty; the uncertainty for the 31,000 federal employees that reside on Long Island, with some facing furlough and potentially permanent job loss; and delayed capital and investment, as the processing of Small Business Administration (SBA) loans and loan guarantees are on hold, starving businesses of operating capital, “stifling job creation and paralyzing growth initiatives across Nassau and Suffolk counties.” 

    In addition, ABLI cited the decline in tax revenue that a prolonged shutdown would cause by generating “a climate of financial uncertainty” leading to less consumer spending.  Not only concerning for small businesses, a drop in spending is also a problem for local municipalities, the letter reads, as sales tax revenue accounts for 41 percent of total revenue in Nassau and 45 percent in Suffolk. 

    ABLI says a further worry is infrastructure and development uncertainty, since Long Island depends heavily on federal grants and programs for essential infrastructure improvements, including transit, clean energy projects, and environmental remediation. The federal shutdown freezes the review, approval and reimbursement of these funds, which leads to project delays and can short-circuit long-term economic development plans. 

    “The current situation demonstrates that every American—regardless of socio-economic status, political ideology, or the size of their business—is impacted by a federal government shutdown,” Strober writes in the letter. “It compromises the financial security of workers, weakens the viability of large and small businesses, and undermines the public trust in governing institutions. We recognize the complexities involved in reaching a consensus, but the cost of continued inaction is simply too high for the Long Island economy to bear. We urge you to work diligently to end the shutdown. Your efforts demonstrate your continued prioritization of the economic well-being of our region.” 


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    David Winzelberg

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  • Federal government disrupts major NY infrastructure projects: What contractors should know | Long Island Business News

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    In Brief:

    As the federal government shutdown stretches on, New York’s construction sector is bracing for significant disruption. Approximately $18 billion in federal infrastructure funding is now frozen, impacting two of the city’s largest and most critical transit projects: The Hudson Tunnel reconstruction and the Second Avenue Subway extension. These high-profile transit projects represent billions in construction contracts and tens of thousands of jobs across the region.

     

    Hudson Tunnel project

    Part of the , this $17.2 billion initiative represents one of the most ambitious infrastructure undertakings in the Northeast. Having secured more than $11 billion through various federal grant programs, the project encompasses the construction of a new tunnel, along with the rehabilitation of the 115-year-old North River Tunnel, which was damaged during Superstorm Sandy. The rail link is considered vital to the Northeast Corridor’s economic , with approximately 200,000 commuters relying on it daily. The project is expected to create over 95,000 direct, indirect and induced jobs during construction while generating $19.6 billion in economic activity.

     

    Second Avenue Subway extension

    A long-awaited and needed expansion into East Harlem, this project promises to bring improved transit access to over 100,000 residents. The extension is expected to reduce overcrowding on the Lexington Avenue line by 22 percent during morning rush hours. With Phase 2 of the project costing an estimated $2 billion, construction had been ramping up with federal support until the shutdown paused reimbursements and furloughed key Department of Transportation staff.

    Economic and operational impacts of the shutdown

    It goes without saying that the funding freeze is expected to significantly impact New York-based infrastructure contractors, especially those facing delayed timelines and potential job losses. While the Metropolitan Transportation Authority () has a set state-sponsored budget in place, it still relies on federal grants. The freeze is anticipated to affect MTA operations and delay future bids, with uncertainty likely to ripple through the broader economy, particularly in sectors tied to public infrastructure.

     

    How impacted contractors can respond

    It’s been a turbulent year for the . Tariff uncertainties, volatile markets and fluctuating labor costs have prompted new strategies throughout 2025. Now, the adds another challenge to the mix. With billions in funding frozen and project timelines up in the air, contractors are rethinking their approach in several key areas:

     

    Strengthening financial management

    This level of uncertainty is prompting sharper financial oversight from contractors, as projects that impact financial results are now in question. In any economic climate, the fundamental “tried-and-true” construction financial management tools—cash flow forecasts and project budgets—are essential. These reports will help management identify peaks and valleys in cash flow across projects and the company as a whole, allowing for proactive planning rather than reactive fixes.

     

    Evaluating liquidity options

    Even with the consensus that the shutdown will eventually be resolved, a prolonged funding freeze would impact operational liquidity. As part of ongoing financial modeling, it’s essential to understand where cash is accessible. The obvious source is working capital lines of credit from banks. Although interest rates are beginning to creep lower, there is still a cost to that capital.

    Contractors should evaluate other potential cash sources, including short-term loans from ownership, liquidation of marketable securities or other readily tradable investments and negotiating advance payment from project owners. Some firms may also consider temporarily scaling back discretionary spending or postponing equipment purchases to preserve cash reserves.

     

    Maintaining communication with financial partners

    Whether the stakeholders are bonding agents, sureties, bankers or other financial parties, transparent communication regarding the shutdown’s potential impacts could prove critical in maintaining relationships and reinforcing confidence in management. Demonstrating how the business could be impacted and outlining the plan(s) to remediate and alleviate those risks will build support for any short-term help.

     

    What’s ahead for New York?

    City officials have not yet announced emergency funding measures, but the pressure is mounting. With New York’s transit system serving over 3 million riders daily, any prolonged disruption could have cascading effects on mobility, employment and urban development. Industry leaders are urging Congress to reach a swift resolution as every day of delay costs time, money and public trust.

    For now, the industry waits—but contractors with strong financial buffers and proactive communication strategies may be better positioned to weather the uncertainty.

     

    Carl Oliveri is partner and construction practice leader at Grassi, with more than 25 years of experience guiding construction executives on financial strategy, operations and market trends.


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    LIBN Staff

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  • Sacramento events boost local businesses with increased foot traffic

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    Sacramento is bustling with visitors as major events like Aftershock draw crowds, boosting local businesses and generating more than $35 million in economic impact over four days. Michael Gray, a downtown business owner, said, the energy downtown is palpable, and businesses are feeling the impact. “We’re fully booked. Booked again last night, and foot traffic up and down K Street has been really good,” said Gray. Three major events are happening on Saturday: Aftershock, the West Coast’s largest rock, punk, and metal festival; a Stevie Nicks concert at Golden 1 Center; and a Sac Republic FC match. For local restaurants like Angel Maya’s on Bercut Drive, the increased foot traffic means booming business. “Aftershock—it just completely changed it. It brought a whole bunch of people in here,” said Maya. City officials report that these events are generating one of the biggest economic impacts of the year. Back downtown, Gray noted that the weekend crowd is lifting more than just sales. “The events bring people here, and as long as we’re doing a good job, it’s elevating us as a downtown restaurant,” Gray said. As Sacramento continues to grow, so do the hopes of local business owners. “As Sacramento continues to grow, all the local businesses will grow as well,” said Gray.Maya shared her enthusiasm for more events, stating, “I really want more festivals or something—because it brings in a lot more business for us.”

    Sacramento is bustling with visitors as major events like Aftershock draw crowds, boosting local businesses and generating more than $35 million in economic impact over four days.

    Michael Gray, a downtown business owner, said, the energy downtown is palpable, and businesses are feeling the impact.

    “We’re fully booked. Booked again last night, and foot traffic up and down K Street has been really good,” said Gray.

    Three major events are happening on Saturday: Aftershock, the West Coast’s largest rock, punk, and metal festival; a Stevie Nicks concert at Golden 1 Center; and a Sac Republic FC match.

    For local restaurants like Angel Maya’s on Bercut Drive, the increased foot traffic means booming business.

    “Aftershock—it just completely changed it. It brought a whole bunch of people in here,” said Maya.

    City officials report that these events are generating one of the biggest economic impacts of the year.

    Back downtown, Gray noted that the weekend crowd is lifting more than just sales.

    “The events bring people here, and as long as we’re doing a good job, it’s elevating us as a downtown restaurant,” Gray said.

    As Sacramento continues to grow, so do the hopes of local business owners.

    “As Sacramento continues to grow, all the local businesses will grow as well,” said Gray.

    Maya shared her enthusiasm for more events, stating, “I really want more festivals or something—because it brings in a lot more business for us.”

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  • Trump in speech to UN says world body ‘not even coming close to living up’ to its potential

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    President Donald Trump returned to the United Nations on Tuesday to boast of his second-term foreign policy achievements and lash out at the world body as a feckless institution, while warning Europe it would be ruined if it doesn’t turn away from a “double-tailed monster” of ill-conceived migration and green energy policies.His roughly hour-long speech was both grievance-filled and self-congratulatory as he used the platform to praise himself and lament that some of his fellow world leaders’ countries were “going to hell.”The address was also just the latest reminder for U.S. allies and foes that the United States — after a four-year interim under the more internationalist President Joe Biden — has returned to the unapologetically “America First” posture under Trump.“What is the purpose of the United Nations?” Trump said. “The U.N. has such tremendous potential. I’ve always said it. It has such tremendous, tremendous potential. But it’s not even coming close to living up to that potential.”World leaders listened closely to his remarks at the U.N. General Assembly as Trump has already moved quickly to diminish U.S. support for the world body in his first eight months in office. Even in his first term, he was no fan of the flavor of multilateralism that the United Nations espouses.After his latest inauguration, he issued a first-day executive order withdrawing the U.S. from the World Health Organization. That was followed by his move to end U.S. participation in the U.N. Human Rights Council, and ordering up a review of U.S. membership in hundreds of intergovernmental organizations aimed at determining whether they align with the priorities of his “America First” agenda.Trump escalated that criticism on Tuesday, saying the international body’s “empty words don’t solve wars.”Trump offered a weave of jarring juxtapositions in his address to the assembly.He trumpeted himself as a peacemaker and enumerated successes of his administration’s efforts in several hotspots around the globe. At the same, Trump heralded his decisions to order the U.S. military to carry out strikes on Iran and more recently against alleged drug smugglers from Venezuela and argued that globalists are on the verge of destroying successful nations.The U.S. president’s speech is typically among the most anticipated moments of the annual assembly. This one comes at one of the most volatile moments in the world body’s 80-year-old history. Global leaders are being tested by intractable wars in Gaza, Ukraine and Sudan, uncertainty about the economic and social impact of emerging artificial intelligence technology, and anxiety about Trump’s antipathy for the global body.Trump has also raised new questions about the American use of military force in his return to the White House, after ordering U.S. airstrikes on Iranian nuclear facilities in June and a trio of strikes this month on alleged drug-smuggling boats in the Caribbean Sea.The latter strikes, including at least two fatal attacks on boats that originated from Venezuela, has raised speculation in Caracas that Trump is looking to set the stage for the ouster of Venezuelan President Nicolás Maduro.Some U.S. lawmakers and human rights advocates say that Trump is effectively carrying out extrajudicial killings by using U.S. forces to lethally target alleged drug smugglers instead of interdicting the suspected vessels, seizing any drugs and prosecuting the suspects in U.S. courts.Warnings about ‘green scam’ and migrationTrump touted his administration’s policies allowing for expanded drilling for oil and natural gas in the United States, and aggressively cracking down on illegal immigration, implicitly suggesting more countries should follow suit.He sharply warned that European nations that have more welcoming migration policies and commit to expensive energy projects aimed at reducing their carbon footprint were causing irreparable harm to their economies and cultures.“I’m telling you that if you don’t get away from the ‘green energy’ scam, your country is going to fail,” Trump said. “If you don’t stop people that you’ve never seen before that you have nothing in common with your country is going to fail.”Trump added, “I love the people of Europe, and I hate to see it being devastated by energy and immigration. This double-tailed monster destroys everything in its wake, and they cannot let that happen any longer.”The passage of the wide-ranging address elicited some groans and uncomfortable laughter from delegates.Trump to hold one-on-one talks with world leadersTrump touted “the renewal of American strength around the world” and his efforts to help end several wars. He peppered his speech with criticism of global institutions doing too little to end war and solve the world’s biggest problems.General Assembly President Annalena Baerbock on Tuesday said that despite all the internal and external challenges facing the organization, it is not the time to walk away.“Sometimes we could’ve done more, but we cannot let this dishearten us. If we stop doing the right things, evil will prevail,” Baerbock said in her opening remarks.Following his speech, Trump met with Secretary-General António Guterres, telling the top U.N. official that the U.S. is behind the global body “100%” amid fears among members that he’s edging toward a full retreat.The White House says Trump will also meet on Tuesday with the leaders of Ukraine, Argentina and the European Union. He will also hold a group meeting with officials from Qatar, Saudi Arabia, Indonesia, Turkey, Pakistan, Egypt, the United Arab Emirates and Jordan.He’ll return to Washington after hosting a reception Tuesday night with more than 100 invited world leaders.Gaza and Ukraine cast shadow over Trump speechTrump has struggled to deliver on his 2024 campaign promises to quickly end the Israel-Hamas war in Gaza and Russia’s invasion of Ukraine. His response has been also relatively muted as some longtime American allies are using this year’s General Assembly to spotlight the growing international campaign for recognition of a Palestinian state, a move that the U.S. and Israel vehemently oppose.France became the latest nation to recognize Palestinian statehood on Monday at the start of a high-profile meeting at the U.N. aimed at galvanizing support for a two-state solution to the Mideast conflict. More nations are expected to follow.Trump sharply criticized the statehood recognition push.“The rewards would be too great for Hamas terrorists,” Trump said. “This would be a reward for these horrible atrocities, including Oct. 7.”Trump also addressed Russia’s war in Ukraine.It’s been more than a month since Trump’s Alaska summit with Russian President Vladimir Putin and a White House meeting with Ukrainian President Volodymyr Zelenskyy and key European leaders. Following those meetings, Trump announced that he was arranging for direct talks between Putin and Zelenskyy. But Putin hasn’t shown any interest in meeting with Zelenskyy and Moscow has only intensified its bombardment of Ukraine since the Alaska summit.European leaders as well as American lawmakers, including some key Republican allies of Trump, have urged the president to dial up stronger sanctions on Russia. Trump, meanwhile, has pressed Europe to stop buying Russian oil, the engine feeding Putin’s war machine.Trump said a “very strong round of powerful tariffs” would “stop the bloodshed, I believe, very quickly.” He repeated his calls on Europe to “step it up” and stop buying Russian oil.Trump has Oslo dreamsDespite his struggles to end the wars in Ukraine and Gaza, Trump has made clear that he wants to be awarded a Nobel Peace Prize, repeatedly making the spurious claim that he’s “ended seven wars” since he returned to office.“Everyone says that I should get the Nobel Prize — but for me, the real prize will be the sons and daughters who live to grow up because millions of people are no longer being killed in endless wars,” Trump offered.He again highlighted his administration’s efforts to end conflicts, including between Israel and Iran, India and Pakistan, Egypt and Sudan, Rwanda and the Democratic Congo, Armenia and Azerbaijan, and Cambodia and Thailand.“It’s too bad that I had to do these things instead of the United Nations doing them,” Trump said. “Sadly, in all cases, the United Nations did not even try to help in any of them.”Although Trump helped mediate relations among many of these nations, experts say his impact isn’t as clear cut as he claims.___AP journalists Tracy Brown and Darlene Superville in Washington and Bill Barrow in Atlanta contributed to this report.

    UNITED NATIONS —

    President Donald Trump returned to the United Nations on Tuesday to boast of his second-term foreign policy achievements and lash out at the world body as a feckless institution, while warning Europe it would be ruined if it doesn’t turn away from a “double-tailed monster” of ill-conceived migration and green energy policies.

    His roughly hour-long speech was both grievance-filled and self-congratulatory as he used the platform to praise himself and lament that some of his fellow world leaders’ countries were “going to hell.”

    The address was also just the latest reminder for U.S. allies and foes that the United States — after a four-year interim under the more internationalist President Joe Biden — has returned to the unapologetically “America First” posture under Trump.

    “What is the purpose of the United Nations?” Trump said. “The U.N. has such tremendous potential. I’ve always said it. It has such tremendous, tremendous potential. But it’s not even coming close to living up to that potential.”

    World leaders listened closely to his remarks at the U.N. General Assembly as Trump has already moved quickly to diminish U.S. support for the world body in his first eight months in office. Even in his first term, he was no fan of the flavor of multilateralism that the United Nations espouses.

    After his latest inauguration, he issued a first-day executive order withdrawing the U.S. from the World Health Organization. That was followed by his move to end U.S. participation in the U.N. Human Rights Council, and ordering up a review of U.S. membership in hundreds of intergovernmental organizations aimed at determining whether they align with the priorities of his “America First” agenda.

    Trump escalated that criticism on Tuesday, saying the international body’s “empty words don’t solve wars.”

    Trump offered a weave of jarring juxtapositions in his address to the assembly.

    He trumpeted himself as a peacemaker and enumerated successes of his administration’s efforts in several hotspots around the globe. At the same, Trump heralded his decisions to order the U.S. military to carry out strikes on Iran and more recently against alleged drug smugglers from Venezuela and argued that globalists are on the verge of destroying successful nations.

    The U.S. president’s speech is typically among the most anticipated moments of the annual assembly. This one comes at one of the most volatile moments in the world body’s 80-year-old history. Global leaders are being tested by intractable wars in Gaza, Ukraine and Sudan, uncertainty about the economic and social impact of emerging artificial intelligence technology, and anxiety about Trump’s antipathy for the global body.

    Trump has also raised new questions about the American use of military force in his return to the White House, after ordering U.S. airstrikes on Iranian nuclear facilities in June and a trio of strikes this month on alleged drug-smuggling boats in the Caribbean Sea.

    The latter strikes, including at least two fatal attacks on boats that originated from Venezuela, has raised speculation in Caracas that Trump is looking to set the stage for the ouster of Venezuelan President Nicolás Maduro.

    Some U.S. lawmakers and human rights advocates say that Trump is effectively carrying out extrajudicial killings by using U.S. forces to lethally target alleged drug smugglers instead of interdicting the suspected vessels, seizing any drugs and prosecuting the suspects in U.S. courts.

    Warnings about ‘green scam’ and migration

    Trump touted his administration’s policies allowing for expanded drilling for oil and natural gas in the United States, and aggressively cracking down on illegal immigration, implicitly suggesting more countries should follow suit.

    He sharply warned that European nations that have more welcoming migration policies and commit to expensive energy projects aimed at reducing their carbon footprint were causing irreparable harm to their economies and cultures.

    “I’m telling you that if you don’t get away from the ‘green energy’ scam, your country is going to fail,” Trump said. “If you don’t stop people that you’ve never seen before that you have nothing in common with your country is going to fail.”

    Trump added, “I love the people of Europe, and I hate to see it being devastated by energy and immigration. This double-tailed monster destroys everything in its wake, and they cannot let that happen any longer.”

    The passage of the wide-ranging address elicited some groans and uncomfortable laughter from delegates.

    Trump to hold one-on-one talks with world leaders

    Trump touted “the renewal of American strength around the world” and his efforts to help end several wars. He peppered his speech with criticism of global institutions doing too little to end war and solve the world’s biggest problems.

    General Assembly President Annalena Baerbock on Tuesday said that despite all the internal and external challenges facing the organization, it is not the time to walk away.

    “Sometimes we could’ve done more, but we cannot let this dishearten us. If we stop doing the right things, evil will prevail,” Baerbock said in her opening remarks.

    Following his speech, Trump met with Secretary-General António Guterres, telling the top U.N. official that the U.S. is behind the global body “100%” amid fears among members that he’s edging toward a full retreat.

    The White House says Trump will also meet on Tuesday with the leaders of Ukraine, Argentina and the European Union. He will also hold a group meeting with officials from Qatar, Saudi Arabia, Indonesia, Turkey, Pakistan, Egypt, the United Arab Emirates and Jordan.

    He’ll return to Washington after hosting a reception Tuesday night with more than 100 invited world leaders.

    Gaza and Ukraine cast shadow over Trump speech

    Trump has struggled to deliver on his 2024 campaign promises to quickly end the Israel-Hamas war in Gaza and Russia’s invasion of Ukraine. His response has been also relatively muted as some longtime American allies are using this year’s General Assembly to spotlight the growing international campaign for recognition of a Palestinian state, a move that the U.S. and Israel vehemently oppose.

    France became the latest nation to recognize Palestinian statehood on Monday at the start of a high-profile meeting at the U.N. aimed at galvanizing support for a two-state solution to the Mideast conflict. More nations are expected to follow.

    Trump sharply criticized the statehood recognition push.

    “The rewards would be too great for Hamas terrorists,” Trump said. “This would be a reward for these horrible atrocities, including Oct. 7.”

    Trump also addressed Russia’s war in Ukraine.

    It’s been more than a month since Trump’s Alaska summit with Russian President Vladimir Putin and a White House meeting with Ukrainian President Volodymyr Zelenskyy and key European leaders. Following those meetings, Trump announced that he was arranging for direct talks between Putin and Zelenskyy. But Putin hasn’t shown any interest in meeting with Zelenskyy and Moscow has only intensified its bombardment of Ukraine since the Alaska summit.

    European leaders as well as American lawmakers, including some key Republican allies of Trump, have urged the president to dial up stronger sanctions on Russia. Trump, meanwhile, has pressed Europe to stop buying Russian oil, the engine feeding Putin’s war machine.

    Trump said a “very strong round of powerful tariffs” would “stop the bloodshed, I believe, very quickly.” He repeated his calls on Europe to “step it up” and stop buying Russian oil.

    Trump has Oslo dreams

    Despite his struggles to end the wars in Ukraine and Gaza, Trump has made clear that he wants to be awarded a Nobel Peace Prize, repeatedly making the spurious claim that he’s “ended seven wars” since he returned to office.

    “Everyone says that I should get the Nobel Prize — but for me, the real prize will be the sons and daughters who live to grow up because millions of people are no longer being killed in endless wars,” Trump offered.

    He again highlighted his administration’s efforts to end conflicts, including between Israel and Iran, India and Pakistan, Egypt and Sudan, Rwanda and the Democratic Congo, Armenia and Azerbaijan, and Cambodia and Thailand.

    “It’s too bad that I had to do these things instead of the United Nations doing them,” Trump said. “Sadly, in all cases, the United Nations did not even try to help in any of them.”

    Although Trump helped mediate relations among many of these nations, experts say his impact isn’t as clear cut as he claims.

    ___

    AP journalists Tracy Brown and Darlene Superville in Washington and Bill Barrow in Atlanta contributed to this report.

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  • Ryder Cup at Bethpage Black set to generate $160M for LI | Long Island Business News

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    THE BLUEPRINT:

    • held Sept 23–28 at on Long Island

    • Expected $160 million economic boost and 1,000 new jobs for the region

    • Over 250,000 visitors anticipated

    • Hotels and Airbnb near Bethpage nearly sold out with premium pricing

    Long Island is gearing up to host the 2025 Ryder Cup, scheduled for September 23–28 at the renowned Bethpage Black course in Farmingdale. The announced Bethpage as the event’s host back in 2013, setting in motion years of preparation for the tournament.

    New projections reveal that the event is expected to infuse $160 million into the , and create an estimated 1,000 jobs, according to the LIA Research Institute, the research arm of the Long Island Association.

    The event is expected to draw more than 250,000 people – including President Donald Trump. Of the attendees, at least 65-70 percent will likely hail from elsewhere in the U.S., and other countries, according to the LIA Research Institute. They will look on as 24 of the top male players from around the world compete between Team USA and Team Europe.

    “Long Island is an unparalleled place to live and work, and assets like the Bethpage Black Course allows our region to attract world-class sporting including this year’s Ryder Cup,” Matt Cohen, LIA president and CEO, said in a written statement.

    “This preeminent golfing tournament will provide a unique opportunity for Long Island to host visitors throughout the world who will spend their money at our hotels and restaurants and boost job growth both on and off the course,” Cohen added.

    The latest analysis considered several types of spending related to the Ryder Cup. This includes direct spending, such as money for tickets and merchandise. It also includes indirect spending, such as expenses at local hotels, restaurants and other businesses. And it includes induced impacts, which refer to how employees may spend the wages they earn from Ryder Cup-related jobs. Overall, the total income earned by workers is expected to be approximately $57 million, according to the report.

    Research shows that there are 16 hotels within 25 miles of Bethpage Black, and all are nearly sold out with prices per night at between $900 and $1,000. Airbnb properties within 25 miles were also largely sold out, though at the time of the report’s release, one three-bedroom location was priced at $36,000 for a six-night booking.

    Tournament packages, including hotel, transportation, tickets and upgraded food options started at $7,000 and ranged up to $20,000. Week-long passes were being resold for more than $6,000.

    Billy Lodato, catering director at Lessing’s of Heritage Club at Bethpage – a venue located within Bethpage State Park – has been leading the venue’s preparations throughout the Ryder Cup process.

    “It is an honor to lead Lessing’s in executing one of the world’s premier sporting events,” Lodato told LIBN.

    “Hosting the Ryder Cup is not just about service, it’s about precision, planning and the relentless attention to detail required to welcome golf’s biggest stage,” Lodato said.

    “From meticulously coordinating logistics and culinary offerings to ensuring every guest experience is seamless, this event showcases the true scale and capability of our team,” he added. “Employees from every division, from New York to Florida, have come together, bringing expertise, dedication and pride to make this moment truly unforgettable. This opportunity highlights not only our company’s strength and spirit, but also our unwavering commitment to excellence in every detail.”

    And for those who didn’t get tickets, viewing parties will help them participate.

    Optimum, for instance, is hosting viewing parties. There is one slated for Sept. 26, from 12-4 p.m.  at Bacaro Italian Tavern in Massapequa Park. Another is scheduled for Sept. 27, from 12-4 p.m. at B.K. Sweeney’s Parkside Tavern in Bethpage. And yet another on Sept. 28 will take place from 12-4 p.m. at Sal’s Place in Hicksville in North Massapequa.

    The extends beyond Long Island, officials said.

    “When including the entire state of New York, the Ryder Cup will leave an economic impact far more than $200 million,” Bryan Karns, Ryder Cup director, said in a written statement.

    “The Ryder Cup economic impact goes well beyond the initial spend by the PGA of America, sponsors and visitors; it creates a ripple effect through Nassau and Suffolk Counties,” Steve Kent, chief economist of the LIA Research Institute, said in a written statement. “Our regional businesses also buy locally and hire locally, so there is a multiplier effect that percolates throughout Long Island.”

    Read more about the Ryder Cup:   

    Toasted Oysters heading to 2025 Ryder Cup showcase

     Ryder Cup 2025 at Bethpage to boost Long Island economy


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    Adina Genn

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  • Long Island tourism hit $7.9B with record growth in 2024 | Long Island Business News

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    THE BLUEPRINT:

    • spending hit a record $7.9 billion in 2024

    • 78,418 tourism-related jobs supported across Nassau and Suffolk

    • Tourism generated $945 million in state and local tax revenue

    Long Island tourism in 2024 continued to reach record highs with $7.9 billion in spending, up 3.8 percent from the previous year.

    That’s according to the most recent report from New York State’s annual tourism report.

    also increased, with 78,418 jobs in 2024, up from 76,227 in 2023.

    “Sharing this third straight year of record-breaking data with our residents and downtown communities, who truly reap the benefits of a thriving visitor economy, is what makes this continued trajectory of year-over-year growth most meaningful,” Mitch Pally, president and CEO of , which promotes tourism in and the region, said last week in a news release about the findings. Pally described the tourism spending as “unprecedented.”

    The report featured an analysis of and its total economic impact on businesses, employment, personal income and taxes.

    “The numbers are showing exactly what we’ve always known: that is an incredible place to live and to visit,” Jaime Hollander, owner and managing director of RRDA, which promotes Nassau’s tourism, told LIBN. “With top-tier accommodations, , restaurants and venues, people know there’s so much more to explore in the county.”

    The report looked at tourism across 11 regions, with New York City remaining the largest in visitor spending, followed by Long Island and then the Hudson Valley. The report was released ahead of the , which is expected to bring at least $150 million in  to the region.

    Suffolk County saw more than $4.6 billion in spending, while Nassau County saw more than $3.2 billion.

    Spending on food and beverages and lodging accounted for 36 percent and 21 percent of total expenditures, respectively. and service stations contributed an additional $1.2 billion, representing 15 percent of overall spending.

    Tourism in Long Island yielded $945 million in state and local taxes in 2024, providing tax savings for households in Nassau and Suffolk. Sales, property and hotel bed taxes contributed $523 million in local taxes.

    Long Island tourism spurred $2.7 billion in direct personal income, and generated $4.1 billion in indirect and induced impact on such things as business-to-business spending and employee spending in the local economy.

    Discover Long Island credited its technology and ability to align with consumer trends, and aims to expand momentum through such upcoming events as the Ryder Cup and 2026 U.S. Open to “keep Long Island at the forefront of traveler’s minds.”

    Hollander said such events as the ICC T20 Cricket World Cup, National BBQ Festival, summer concerts at Eisenhower Park and other events all contributed to help build Nassau as a tourist destination. The Ryder Cup along with the Legends of the LPGA, which is new to Eisenhower Park this year, would continue to advance tourism initiatives.

    Pally said the growth “within Suffolk County and beyond, is guided by the vision of our Board of Directors, strengthened by our partners and local leaders, and executed by our dedicated Discover Long Island team. Together, we are helping ensure that tourism continues to enhance the quality of life for Long Islanders while elevating our region’s standing among the nation’s premier destinations.”


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    Adina Genn

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  • Long Island business groups back revived pipeline project | Long Island Business News

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    THE BLUEPRINT:

    • trade groups support the revived gas pipeline project

    • would add 37 miles to Williams’ system

    • Pipeline could save NY up to $6B and reduce diesel truck use

    • Project still faces opposition from environmental and local groups

     

    A coalition of Long Island business and real estate trade groups have renewed their support of a newly revived project. 

    The coalition, which includes the Association for a Better Long Island, Long Island Association, Long Island Builders Institute, Long Island Contractors Association, Hauppauge Industrial Association of LI, Long Island Board of Realtors and Commercial Industrial Brokers Society of Long Island, sent a letter to state officials last week reaffirming its support for the Northeast Supply Enhancement project, which would build a new 37-mile mostly underwater addition to an existing Williams Transco natural gas pipeline system that runs from Texas through parts of Pennsylvania and New Jersey, New York and onto Long Island. 

    The letter coincided with the August 16 end of public comment period for the proposed pipeline to get the greenlight from the New York State Department of Environmental Conservation. After facing pushback from environmental advocacy groups, the project had been squashed by previous New York and New Jersey administrations, but it was revived by a reported deal between Gov. Kathy Hochul and President Donald Trump in May to unfreeze the Empire Wind project in exchange for advancing the pipeline. It’s unclear if New Jersey Gov. Phil Murphy will reverse his previous opposition to the project. 

    The letter from the Long Island business and real estate organizations outlined the need for the pipeline project which it said, “will protect our region’s economic viability by making energy more reliable and affordable.” It cited independent analysis that the pipeline could save New Yorkers up to $6 billion in electricity costs over 15 years and reduce reliance on diesel-fueled truck deliveries, which will lower greenhouse gas emissions. 

    “As our region’s demand for energy continues to grow, it is critical that we look ahead to ensure that our economy has the necessary infrastructure in pace to meet that demand,” Kyle Strober, executive director of the Association for a Better Long Island, told LIBN. “While some ideologists will balk at the thought of a natural gas pipeline, the reality is this project is a pragmatic step forward that balances our immediate energy reliability needs with our long-term sustainability objectives.” 

    Williams, the company that would build the pipeline project, says the expansion of the system would add enough capacity to supply natural gas to the equivalent of 2.3 million homes, create about 2,000 jobs and generate $548 million in economic activity. The company had hoped to begin construction on the project in the third quarter of this year, with completion slated for Q4 2027.  

    However, the project still faces continued opposition from several environmental groups and local elected officials on Long Island, in New York City and New Jersey. 


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    David Winzelberg

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  • Harris and Trump are tested by the Mideast, Helene and the port strike in the campaign’s final weeks

    Harris and Trump are tested by the Mideast, Helene and the port strike in the campaign’s final weeks

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    A trio of new trials — a devastating hurricane, expanding conflict in the Mideast and a dockworkers strike that threatens the U.S. economy — are looming over the final weeks of the presidential campaign and could help shape the public mood as voters decide between Democrat Kamala Harris and Republican Donald Trump.How events shake out — and how the candidates respond — could be decisive as they claw for votes in battleground states.Related video above: Election 2024: What are the key swing states to watch?The sitting president, Joe Biden, is still the steward of a U.S. economy and foreign policy at this tumultuous moment and may well bear ultimate responsibility for how they play out. But how Harris and Trump approach the three disparate issues could have rippling impact on how Americans perceive their two choices this November.”Unfortunately, there are going to be events like this, and this is where you see the leadership of a president show up,” White House press secretary Karine Jean-Pierre told reporters on Tuesday. “I think this should send a message to Americans: It matters. It matters who sits behind the Resolute Desk.”Harris, with Biden’s help, is trying to display steady calm as a flurry of difficult problems arise all at once. She and Biden on Tuesday toggled between directing Hurricane Helene recovery and rescue response work and huddling with aides in the White House Situation Room to watch as the U.S. helped Israel defend against a massive attack by Iran in retaliation for the killing of Tehran-backed leaders of Lebanese Hezbollah.All the while, they were keeping close contact with economic advisers as dockworkers took to the picket line Tuesday, a walkout stretching from ports in Maine to Texas that threatens to snarl supply chains and cause shortages and higher prices if it stretches on for more than a few weeks.Trump, for his part, lashed out at Harris as in over her head, while claiming that this sort of crush of problems never would have happened under his watch.”We have been talking about World War III, and I don’t want to make predictions,” Trump said at a campaign event in Wisconsin. “The whole world is laughing at us. That’s why Israel was under attack just a little while ago. Because they don’t respect our country anymore.”Yet voters cast Trump aside four years ago in large part because of how they viewed his handling of the swirling economic, social and public health challenges that emerged from the COVID-19 pandemic. Biden, in comments to reporters before meeting with aides Tuesday to discuss the ongoing hurricane response, seemed to acknowledge the growing frustration with the federal response to the massive storm.”I’ve been in frequent contact with the governors and other leaders in the impacted areas, and we have to jumpstart this recovery process,” Biden said. He will travel to the Carolinas on Wednesday to get a closer look at the hurricane devastation. He is also expected to visit hurricane-impacted areas in Georgia and Florida later this week. “People are scared to death. People wonder whether they’re going to make it.” Video below: Biden pledges federal aid after touring devastation from HeleneHarris, meanwhile, headed to Georgia on Wednesday and North Carolina in the coming days to do the same. Tuesday’s vice presidential debate offered a sampling of how the two campaigns were reacting to new developments to bolster their own messages and sharpen their attacks on their rivals. Minnesota Gov. Tim Walz promised “steady leadership” under Harris while Ohio Sen. JD Vance pledged a return to “peace through strength” if Trump is returned to the White House.Biden has stayed off the campaign trail since announcing in July that he was ending his reelection effort amid sliding public approval ratings. His conspicuous absence underscores that Democrats see him as more of a liability than an asset in making the case for Harris, said Christopher Borick, director of the Muhlenberg College Institute of Public Opinion in Pennsylvania.But how well Biden deals with the three latest emergency situations could have a big impact in how undecided voters perceive Harris in these final days.”President Biden can’t help Kamala Harris on the stump,” Borick said. “But in a campaign where you are turning over every rock in a few states to get that undecided voter, how he manages these crises over the next several weeks could have an impact.” The Harris campaign understands the risks it faces with multiple crises converging all at once, especially given their varied and unpredictable nature. A prolonged strike, a bungled disaster response or a further expansion of Middle East conflict could raise doubts about Biden’s leadership, and by extension that of his second-in-command.At the same time, Harris campaign aides believe the perilous moment presents an opportunity to demonstrate to voters the stakes of who’s in the job and the seriousness with which they approach it, according to campaign officials who spoke on the condition of anonymity to discuss internal thinking.The former president, in a speech in Waunakee, Wisconsin, and in social media postings Tuesday, offered a mixture of prayer and concern for those impacted by Helene, jabs at Harris for the dockworkers strike, and an aside about the casting of Stanley Kubrick’s film “Full Metal Jacket.””The situation should have never come to this and, had I been president, it would not have,” Trump said in a statement about the strike.Harris aides made a point of having the vice president deliver brief remarks on the Iranian attack Tuesday in between taping interviews for her campaign, aiming to portray her as ready to take command.Late-term tumult has been fixture in American presidential politics, sometimes in the form of scandal and other times with an incumbent hoping to demonstrate that he or his preferred successor would be a steady head at an uncertain time. George W. Bush pushed a rescue package through Congress to stabilize a reeling financial system by creating the Troubled Asset Relief Program amid fears that the economy was on the verge of collapse. The broader economic conditions didn’t help Republican John McCain in the race he lost to Barack Obama. Jimmy Carter’s reelection campaign in 1980 was paralyzed by the Iran hostage crisis. Fifty-two hostages were released on January 20, 1981, soon after his successor, Ronald Reagan, was inaugurated.Lyndon Johnson announced a halting of bombings in North Vietnam days before the 1968 election, a step he hoped would bring the conflict toward a peace settlement. But the South Vietnamese indicated they would not negotiate and Johnson’s vice president, Hubert Humphrey, lost narrowly to Republican Richard Nixon.”The efforts by incumbents to help themselves or their party’s nominee with ‘October surprises’ go back quite a ways,” said Edward Frantz, a University of Indianapolis historian. “In this current climate, I’m not sure how many voters can be persuaded by a candidate this late in the game trying to show competency.”___AP writer Josh Boak contributed to this report.

    WASHINGTON —

    A trio of new trials — a devastating hurricane, expanding conflict in the Mideast and a dockworkers strike that threatens the U.S. economy — are looming over the final weeks of the presidential campaign and could help shape the public mood as voters decide between Democrat Kamala Harris and Republican Donald Trump.

    How events shake out — and how the candidates respond — could be decisive as they claw for votes in battleground states.

    Related video above: Election 2024: What are the key swing states to watch?

    The sitting president, Joe Biden, is still the steward of a U.S. economy and foreign policy at this tumultuous moment and may well bear ultimate responsibility for how they play out. But how Harris and Trump approach the three disparate issues could have rippling impact on how Americans perceive their two choices this November.

    “Unfortunately, there are going to be events like this, and this is where you see the leadership of a president show up,” White House press secretary Karine Jean-Pierre told reporters on Tuesday. “I think this should send a message to Americans: It matters. It matters who sits behind the Resolute Desk.”

    Harris, with Biden’s help, is trying to display steady calm as a flurry of difficult problems arise all at once.

    She and Biden on Tuesday toggled between directing Hurricane Helene recovery and rescue response work and huddling with aides in the White House Situation Room to watch as the U.S. helped Israel defend against a massive attack by Iran in retaliation for the killing of Tehran-backed leaders of Lebanese Hezbollah.

    All the while, they were keeping close contact with economic advisers as dockworkers took to the picket line Tuesday, a walkout stretching from ports in Maine to Texas that threatens to snarl supply chains and cause shortages and higher prices if it stretches on for more than a few weeks.

    Trump, for his part, lashed out at Harris as in over her head, while claiming that this sort of crush of problems never would have happened under his watch.

    “We have been talking about World War III, and I don’t want to make predictions,” Trump said at a campaign event in Wisconsin. “The whole world is laughing at us. That’s why Israel was under attack just a little while ago. Because they don’t respect our country anymore.”

    Yet voters cast Trump aside four years ago in large part because of how they viewed his handling of the swirling economic, social and public health challenges that emerged from the COVID-19 pandemic.

    Biden, in comments to reporters before meeting with aides Tuesday to discuss the ongoing hurricane response, seemed to acknowledge the growing frustration with the federal response to the massive storm.

    “I’ve been in frequent contact with the governors and other leaders in the impacted areas, and we have to jumpstart this recovery process,” Biden said. He will travel to the Carolinas on Wednesday to get a closer look at the hurricane devastation. He is also expected to visit hurricane-impacted areas in Georgia and Florida later this week. “People are scared to death. People wonder whether they’re going to make it.”

    Video below: Biden pledges federal aid after touring devastation from Helene

    Harris, meanwhile, headed to Georgia on Wednesday and North Carolina in the coming days to do the same.

    Tuesday’s vice presidential debate offered a sampling of how the two campaigns were reacting to new developments to bolster their own messages and sharpen their attacks on their rivals. Minnesota Gov. Tim Walz promised “steady leadership” under Harris while Ohio Sen. JD Vance pledged a return to “peace through strength” if Trump is returned to the White House.

    Biden has stayed off the campaign trail since announcing in July that he was ending his reelection effort amid sliding public approval ratings.

    His conspicuous absence underscores that Democrats see him as more of a liability than an asset in making the case for Harris, said Christopher Borick, director of the Muhlenberg College Institute of Public Opinion in Pennsylvania.

    But how well Biden deals with the three latest emergency situations could have a big impact in how undecided voters perceive Harris in these final days.

    “President Biden can’t help Kamala Harris on the stump,” Borick said. “But in a campaign where you are turning over every rock in a few states to get that undecided voter, how he manages these crises over the next several weeks could have an impact.”

    The Harris campaign understands the risks it faces with multiple crises converging all at once, especially given their varied and unpredictable nature. A prolonged strike, a bungled disaster response or a further expansion of Middle East conflict could raise doubts about Biden’s leadership, and by extension that of his second-in-command.

    At the same time, Harris campaign aides believe the perilous moment presents an opportunity to demonstrate to voters the stakes of who’s in the job and the seriousness with which they approach it, according to campaign officials who spoke on the condition of anonymity to discuss internal thinking.

    The former president, in a speech in Waunakee, Wisconsin, and in social media postings Tuesday, offered a mixture of prayer and concern for those impacted by Helene, jabs at Harris for the dockworkers strike, and an aside about the casting of Stanley Kubrick’s film “Full Metal Jacket.”

    “The situation should have never come to this and, had I been president, it would not have,” Trump said in a statement about the strike.

    Harris aides made a point of having the vice president deliver brief remarks on the Iranian attack Tuesday in between taping interviews for her campaign, aiming to portray her as ready to take command.

    Late-term tumult has been fixture in American presidential politics, sometimes in the form of scandal and other times with an incumbent hoping to demonstrate that he or his preferred successor would be a steady head at an uncertain time.

    George W. Bush pushed a rescue package through Congress to stabilize a reeling financial system by creating the Troubled Asset Relief Program amid fears that the economy was on the verge of collapse. The broader economic conditions didn’t help Republican John McCain in the race he lost to Barack Obama.

    Jimmy Carter’s reelection campaign in 1980 was paralyzed by the Iran hostage crisis. Fifty-two hostages were released on January 20, 1981, soon after his successor, Ronald Reagan, was inaugurated.

    Lyndon Johnson announced a halting of bombings in North Vietnam days before the 1968 election, a step he hoped would bring the conflict toward a peace settlement. But the South Vietnamese indicated they would not negotiate and Johnson’s vice president, Hubert Humphrey, lost narrowly to Republican Richard Nixon.

    “The efforts by incumbents to help themselves or their party’s nominee with ‘October surprises’ go back quite a ways,” said Edward Frantz, a University of Indianapolis historian. “In this current climate, I’m not sure how many voters can be persuaded by a candidate this late in the game trying to show competency.”

    ___

    AP writer Josh Boak contributed to this report.

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  • Russia’s adaptability to US sanctions stymied their effectiveness, economists say

    Russia’s adaptability to US sanctions stymied their effectiveness, economists say

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    Waves of sanctions imposed by the Biden administration after Russia’s invasion of Ukraine haven’t inflicted the devastating blow to Moscow’s economy that some had expected. In a new report, two researchers are offering reasons why.Oleg Itskhoki of Harvard University and Elina Ribakova of the Peterson Institute for International Economics argue that the sanctions should have been imposed more forcefully immediately after the invasion rather than in a piecemeal manner.Related video above: Russia can only be forced into peace, Zelensky says to the United Nations Security Council”In retrospect, it is evident that there was no reason not to have imposed all possible decisive measures against Russia from the outset once Russia launched the full scale invasion in February 2022,” the authors state in the paper. Still, “the critical takeaway is that sanctions are not a silver bullet,” Ribakova said on a call with reporters this week, to preview the study.The researchers say Russia was able to brace for the financial penalties because of the lessons learned from sanctions imposed in 2014 after it invaded Crimea. Also, the impact was weakened by the failure to get more countries to participate in sanctions, with economic powers like China and India not included. The report says that “while the count of sanctions is high, the tangible impact on Russia’s economy is less clear,” and “global cooperation is indispensable.”The question of what makes sanctions effective or not is important beyond the Russia-Ukraine war. Sanctions have become critical tools for the United States and other Western nations to pressure adversaries to reverse actions and change policies while stopping short of direct military conflict.The limited impact of sanctions on Russia has been clear for some time. But the report provides a more detailed picture of how Russia adapted to the sanctions and what it could mean for U.S. sanctions’ effectiveness in the future. The paper will be presented at the Brookings Institution next week. Since the beginning of Russia’s invasion of Ukraine in February 2022, the U.S. has sanctioned more than 4,000 people and businesses, including 80% of Russia’s banking sector by assets.The Biden administration acknowledges that sanctions alone cannot stop Russia’s invasion — it has also sent roughly $56 billion in military assistance to Ukraine since the 2022 invasion. And many policy experts say the sanctions are not strong enough, as evidenced by the growth of the Russian economy. U.S. officials have said Russia has turned to China for machine tools, microelectronics and other technology that Moscow is using to produce missiles, tanks, aircraft and other weaponry for use in the war.A Treasury representative pointed to Treasury Secretary Janet Yellen’s remarks in July during the Group of 20 finance ministers meetings, where she called actions against Russia “unprecedented.””We continue cracking down on Russian sanctions evasion and have strengthened and expanded our ability to target foreign financial institutions and anyone else around the world supporting Russia’s war machine,” she said. Still, Russia has been able to evade a $60 price cap on its oil exports imposed by the U.S. and the other Group of Seven democracies supporting Ukraine. The cap is enforced by barring Western insurers and shipping companies from handling oil above the cap. Russia has been able to dodge the cap by assembling its own fleet of aging, used tankers that do not use Western services and transport 90% of its oil.The U.S. pushed for the price cap as a way of cutting into Moscow’s oil profits without knocking large amounts of Russian oil off the global market and pushing up oil prices, gasoline prices and inflation. Similar concerns kept the European Union from imposing a boycott on most Russian oil for almost a year after Russia invaded Ukraine.G-7 leaders have agreed to engineer a $50 billion loan to help Ukraine, paid for by the interest earned on profits from Russia’s frozen central bank assets sitting mostly in Europe as collateral. However, the allies have not agreed on how to structure the loan. __Associated Press reporter Dave McHugh in Frankfurt contributed to this report.

    WASHINGTON —

    Waves of sanctions imposed by the Biden administration after Russia’s invasion of Ukraine haven’t inflicted the devastating blow to Moscow’s economy that some had expected. In a new report, two researchers are offering reasons why.

    Oleg Itskhoki of Harvard University and Elina Ribakova of the Peterson Institute for International Economics argue that the sanctions should have been imposed more forcefully immediately after the invasion rather than in a piecemeal manner.

    Related video above: Russia can only be forced into peace, Zelensky says to the United Nations Security Council

    “In retrospect, it is evident that there was no reason not to have imposed all possible decisive measures against Russia from the outset once Russia launched the full scale invasion in February 2022,” the authors state in the paper. Still, “the critical takeaway is that sanctions are not a silver bullet,” Ribakova said on a call with reporters this week, to preview the study.

    The researchers say Russia was able to brace for the financial penalties because of the lessons learned from sanctions imposed in 2014 after it invaded Crimea. Also, the impact was weakened by the failure to get more countries to participate in sanctions, with economic powers like China and India not included.

    The report says that “while the count of sanctions is high, the tangible impact on Russia’s economy is less clear,” and “global cooperation is indispensable.”

    The question of what makes sanctions effective or not is important beyond the Russia-Ukraine war. Sanctions have become critical tools for the United States and other Western nations to pressure adversaries to reverse actions and change policies while stopping short of direct military conflict.

    The limited impact of sanctions on Russia has been clear for some time. But the report provides a more detailed picture of how Russia adapted to the sanctions and what it could mean for U.S. sanctions’ effectiveness in the future.

    The paper will be presented at the Brookings Institution next week.

    Since the beginning of Russia’s invasion of Ukraine in February 2022, the U.S. has sanctioned more than 4,000 people and businesses, including 80% of Russia’s banking sector by assets.

    The Biden administration acknowledges that sanctions alone cannot stop Russia’s invasion — it has also sent roughly $56 billion in military assistance to Ukraine since the 2022 invasion. And many policy experts say the sanctions are not strong enough, as evidenced by the growth of the Russian economy. U.S. officials have said Russia has turned to China for machine tools, microelectronics and other technology that Moscow is using to produce missiles, tanks, aircraft and other weaponry for use in the war.

    A Treasury representative pointed to Treasury Secretary Janet Yellen’s remarks in July during the Group of 20 finance ministers meetings, where she called actions against Russia “unprecedented.”

    “We continue cracking down on Russian sanctions evasion and have strengthened and expanded our ability to target foreign financial institutions and anyone else around the world supporting Russia’s war machine,” she said.

    Still, Russia has been able to evade a $60 price cap on its oil exports imposed by the U.S. and the other Group of Seven democracies supporting Ukraine. The cap is enforced by barring Western insurers and shipping companies from handling oil above the cap. Russia has been able to dodge the cap by assembling its own fleet of aging, used tankers that do not use Western services and transport 90% of its oil.

    The U.S. pushed for the price cap as a way of cutting into Moscow’s oil profits without knocking large amounts of Russian oil off the global market and pushing up oil prices, gasoline prices and inflation. Similar concerns kept the European Union from imposing a boycott on most Russian oil for almost a year after Russia invaded Ukraine.

    G-7 leaders have agreed to engineer a $50 billion loan to help Ukraine, paid for by the interest earned on profits from Russia’s frozen central bank assets sitting mostly in Europe as collateral. However, the allies have not agreed on how to structure the loan.

    __

    Associated Press reporter Dave McHugh in Frankfurt contributed to this report.

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