Hacienda Times Digest Mayo 9

May 9th, 2017
























Tues May 9 Wed May 10 Thurs May 11 Fri May 12 Sat May 13













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FROM THE PAGES OF midnight in New York









TUESDAY, MAY 9, 2017 FROM THE PAGES OF © 2017 The New York Times

All-Male Panel White House Is Said to Know Flynn Lied

On Health Bill WASHINGTON — Less than from one of the many foreign diplomats, was un-
a week into the Trump adminis- nation’s most der routine surveillance, and his
Leans to Right tration, Sally Q. Yates, the acting important se- conversations with Flynn were
attorney general, hurried to the
recorded, officials have said. In-
curity posts.
White House with an urgent con- It also raised vestigators knew that Flynn had,
cern. The president’s national se- fresh doubts in fact, discussed sanctions.
WASHINGTON — The top Re- curity adviser, she said, had lied about Trump’s Much of what Yates said was
publican in the Senate, Mitch Mc- to the vice president about his judgment in previously known, but her tes-
Connell of Kentucky, has a repu- Russian contacts and was vul- Sally Q. Yates keeping Flynn timony offered a dramatic first-
tation as a shrewd tactician and a nerable to blackmail by Moscow. in place de- hand account of a quickly unfold-
wily strategist — far more than his “We wanted to tell the White spite serious ing scandal at the highest level of
younger counterpart in the House, House as quickly as possible,” Justice Department concerns. government.
Speaker Paul D. Ryan. Yates told a Senate Judiciary White House officials have not On Jan. 26, Yates said, she
So the Senate majority leader’s subcommittee on Monday. “To fully explained why they waited called the White House counsel,
decision to create a 13-man work- state the obvious: You don’t want so long. Donald F. McGahn II, regarding
ing group on health care, including your national security adviser “I don’t have any way of know- “a very sensitive matter” that
staunch conservatives and ardent compromised with the Russians.” ing what, if anything, they did,” they could discuss only in per-
foes of the Affordable Care Act — but But President Trump did not Yates said. “If nothing was done, son. Later that day, at the White
no women — has been widely seen immediately fire the adviser, Mi- then certainly that would be con- House, she warned McGahn that
on Capitol Hill as a move to placate chael T. Flynn, over the apparent cerning.” White House officials were mak-
the right as Congress decides the lie or the susceptibility to black- At the heart of Monday’s tes- ing statements “that we knew not
fate of President Barack Obama’s mail. Instead, Flynn remained timony were Flynn’s conversa- to be the truth.” Yates said she ex-
signature domestic achievement. in office for 18 more days. Only tions with the Russian ambassa- plained to McGahn how she knew
But McConnell, with only two when the news of his false state- dor to the United States, Sergey Flynn’s statements were untrue,
votes to spare, could find that in the ments broke publicly did he lose I. Kislyak. Flynn denied that they though she did not go into details
Senate, unlike the House, the more his job on Feb. 13. had discussed American sanc- Monday.
moderate voices will not be so easily Yates’s testimony, along with a tions, an assertion echoed by “Why does it matter to D.O.J.
assuaged when a repeal bill finally separate revelation Monday that Vice President Mike Pence and if one White House official lies to
reaches a vote. Republican sena- President Barack Obama had the White House press secretary, another White House official?”
tors like Susan Collins of Maine, warned Trump not to hire Flynn, Sean Spicer. But senior F.B.I. McGahn asked at a second meet-
Lisa Murkowski of Alaska and Bill offered a more complete public and Justice Department officials ing the next day, according to
Cassidy of Louisiana may prove less account of Flynn’s stunning fall knew otherwise. Kislyak, like Yates. (NYT)
amenable to appeals for party uni-
ty and legislative success when the Ties to China Put Kushners in Ethics Bind
lives and health of their constituents
are on the line.
And certain issues, like efforts to WASHINGTON — It was the one of the most explicit examples luxury projects, like the Kushner
reverse the expansion of Medicaid first major piece of legislation to date of the peril of the Trump family deal, instead of promoting
under the Affordable Care Act, are that President Trump signed into and Kushner families maintain- job creation in rural America or
sure to receive more attention in the law, and buried on Page 734 was ing close ties to their business in- distressed urban areas, as it was
Senate than they got in the House. one sentence that brought a po- terests and creates an impression intended. It has also been crit-
The prospect of higher premiums tential benefit to the president’s they stand to profit off Trump’s icized by federal regulators for
for older Americans living in rural extended family: renewal of a presence in the White House. It insufficient safeguards against
areas will also loom larger in a legis- program offering permanent res- also illustrates the problems of illicit money coming into the
lative chamber where Republicans idence in the United States to af- the so-called EB-5 visa program United States; in the case of one
from sparsely populated states hold fluent foreigners investing mon- that prominent Republican and applicant, they found potential fi-
outsized power. ey in real estate projects here. Democratic members of Con- nancial ties to a string of Chinese
“This process will not be quick or Just hours after the appropri- gress want changed. brothels.
simple or easy,” McConnell said. ations measure was signed on “It is just one more dilemma There is no assertion that
Sen.Michael Rounds, R-S.D., sug- Friday, the company run until that a family with vast commer- Kushner broke any conflict-of-in-
gested the Senate will spend at least January by Trump’s son-in-law cial interest has when relatives terest rule; but the law does not
two months on the legislation. and top adviser, Jared Kushner, are in the federal government, prevent his relatives from trying
The Senate Republican working was urging wealthy Chinese in particularly the White House,” to exploit those ties to benefit the
group on health care includes the Beijing to consider investing said Michael H. Cardozo, who family business.
party’s top leaders, as well as three $500,000 each in a pair of Jersey served as a deputy White House Kushner’s portfolio includes a
committee chairmen and two of the City luxury apartment towers the counsel in the Carter administra- central role on China policy. That
most conservative senators, Ted family-owned Kushner Compa- tion. “The actions of relatives can role has heightened the Kushner
Cruz of Texas and Mike Lee of Utah. nies plans to build. Kushner was come back and bite those serving family name in a nation account-
McConnell’s decision to include even cited at a marketing presen- those in the government.” ing for more than 80 percent of
himself and his top three lieuten- tation by his sister Nicole Mey- Bipartisan critics in Washing- the EB-5 visas issued. Wealthy
ants speaks volumes about his di- er, who was on her way to China ton say they want to revamp the Chinese see the program as an
rection and has raised eyebrows. even before the bill was signed. visa program because it is often easy way to legally move to the
ROBERT PEAR The sequence of events offers abused. It supports high-end United States. (NYT)

INTERNATIONAL TUESDAY, MAY 9, 2017 2

In Brief Macron’s Win Bolsters French Role in E.U.



LONDON — It was a striking
Public Clash in Iran Pits moment when Emmanuel Ma- France is back in the picture.” to be taken seriously,” said Stefan
Lehne, a former Austrian diplomat
If France is again vital to Eu-
Miners Vs. President cron, newly elected to be presi- ropean affairs, any euphoria is and a visiting scholar with Carne-
Angry miners grieving the dent of France, torchbearer of a certain to be short-lived. First, gie Europe. In France, “more than
deaths of dozens of co-work- new politics, strode onto a court- Macron faces many domestic 40 percent of French voters opted
ers trapped after an explosion yard of the Louvre to celebrate challenges in translating his cen- for anti-European populist parties
blocked the convoy of President his victory: As the crowd cheered, trist promises into policy and in in the first round,” he said, and in
Hassan Rouhani over the week- waving the tricolor French flag, assuaging those millions who vot- Italy, “the Five Star Movement and
end, an extraordinary display of the choice of music was “Ode to ed for Le Pen, cast blank ballots or Northern League could easily win
public anger two weeks before Joy,” the anthem of the European did not vote at all. the general election expected to be
presidential elections. Workers Union. Some people even waved Beyond that, the European held in February 2018.”
from the Zemestan-Yurt coal the bloc’s flag, with its circle of Beyond that, he said, the ex-
mine in northern Iran blocked the golden stars. isting populist governments in
For the past year, and longer, the A pro-European victor
car carrying Rouhani on Sunday. Hungary and Poland “constantly
Rouhani, who is fighting to be European Union has been political- now has to make the put the values on which the E.U. is
re-elected on May 19, remained ly radioactive, deemed untouch- based into question.”
able by most mainstream candi- bloc work.
in the armored car, with body- If he is a political novice, Ma-
guards hanging from all sides dates for national office in Europe. cron is also suddenly a power bro-
protecting him. Dozens of miners Yet Macron, 39, not only embraced ker in a European bloc dominated
and grieving relatives surround- the embattled bloc, but proclaimed Union can hardly take a victory by a Germany that is largely ec-
ed the vehicle, some wearing membership in it to be a necessity lap. The bloc has survived the Le static about his victory and eager
hard hats, blocking it from mov- for France’s future: needful of re- Pen threat, but it is still deeply un- for him to succeed.
ing. (NYT) form, certainly, but something to popular in many countries and has “If Macron manages to stop the
embrace rather than run from. And yet to answer the existential ques- populist tsunami, he’ll be reward-
he defeated the most europhobic of tion of what sort of union it wants ed by his European counterparts,”
U.N. Monitors Rejected opponents, the far-right nationalist to be. There are doubts about said Florence Gaub, a senior
The Syrian government said on Marine Le Pen. whether it can inspire Europeans analyst at the European Union
Monday that the “de-escalation Nathalie Tocci, director of the and regain their trust. National- Institute for Security Studies in
zones” negotiated by Russia, Iran Institute for International Affairs ism and populism are hardly dead, Paris. “He’ll be able to make some
and Turkey, which took effect in Rome, said Macron’s victory even in France, where Le Pen has demands that other French presi-
this weekend, could not be mon- had helped the bloc avoid a cat- already shifted her focus to parlia- dents could not. Because everyone
itored by others, including the aclysm. “The alternative would mentary elections next month. needs him to be a success, and if it
United Nations. The declaration, have been the end of the Europe- The populist threat to the Euro- stops with France, maybe it stops
made by Foreign Minister Walid an Union,” Tocci said. “It means pean Union “remains alive and has forever.” STEVEN ERLANGER
al-Moallem in Damascus, Syria,
added to uncertainty over how A Stamp of ‘Brexit’ Disapproval in a Banksy Mural
to ensure compliance with the
agreement, which theoretically
halts hostilities in four regions of LONDON — The three-story
the country. “We do not accept a mural showing a workman chip-
role for the United Nations or in- ping away at one of the 12 stars A Banksy
ternational forces to monitor the of the European Union flag ap- mural in
agreement,” Moallem said. (NYT) peared mysteriously in Dover, En-
gland, over the weekend, at once Dover,
Cartoonist Kills Off Pepe banal and symbolically poignant. England
depicting a
Before the paint had dried, so-
The cartoonist who created cial media was swirling with the workman
Pepe the Frog has killed off the well-trodden guessing game as chipping away
character in a rebuke to far-right to whether the intricate stenciled at a star on
extremists who transformed a imagery belonged to Banksy, the
benevolent internet meme into enigmatic and anonymous guer- the European
a racist, anti-Semitic symbol. A rilla street artist whose work has HANNAH MCKAY/REUTERS Union flag.
Pepe cartoon released Saturday graced walls from Britain to the
in comic book stores shows Matt West Bank. installation infused it with added of member states.)
Furie’s creation in an open cas- The mystery was solved when resonance. Britons will vote next Others were less impressed.
ket. Furie did not immediately Banksy posted photographs of month in a general election that “Is it really Banksy?” Jan Honza
respond to an email seeking com- the work on the artist’s official In- Prime Minister Theresa May has Zicha wrote on Facebook. “I re-
ment Monday. In a Time mag- stagram feed on Sunday, perhaps justified on the grounds that it will member time when he was ‘on to
azine essay last year, Furie de- timed to coincide with the French buttress her negotiating position subject’ before anyone else or at
scribed Pepe as “chill frog-dude” presidential vote — which, as it ahead of tortuous negotiations to least part of the first liners. Unfor-
who debuted in a 2006 comic turned out, the young and ardent- leave the European Union, known tunately this time, he is about 10
book called “Boy’s Club” and be- ly pro-European Union former as “Brexit.” months too late and the art work
came a popular online subject for investment banker Emmanuel “They ought to make it the is truly … well obvious and unin-
user-generated mutations. But Macron won decisively. Brexit logo,” a resident of Dover, novative.”
internet trolls hijacked the char- The election solidified France’s where a majority voted to leave Malcolm John Haines wrote on
acter and began flooding social place at the center of the Europe- the bloc, told the website kent- Facebook, “Another boring piece
media with hateful Pepe memes an Union and highlighted Britain’s news.co.uk. (The stars in the cir- of ‘art’ from the left wing’s favour-
more than a year before the 2016 position on the outside looking in. cle are intended to symbolize uni- ite millionaire luvvie.”
presidential election. (AP) The timing and location of the ty and do not refer to the number DAN BILEFSKY

NATIONAL TUESDAY, MAY 9, 2017 3

Prosecutors Take Tougher Stance in Hazing Deaths In Brief



After downing a dangerous the Association of Prosecuting At- ident, Eric Barron, said Monday.
amount of alcohol and suffering torneys, a national group that of- “What we have is recognition of A Veterans Memorial,
severe internal injuries during fers training for prosecutors. “Now them as an organization,” he said,
a fraternity hazing, a 19-year- it’s no longer ‘boys will be boys.’ “and that is one of the weakest Sponsored by Satanists
old college sophomore died. Not And why is the prosecutor getting tools in the toolbox that you can The Veterans Memorial Park
long ago, the story might have involved in this? I think there is imagine.” in Belle Plaine, Minn., includes a
ended there, except for some much more acceptance out there Fraternities and their national walkway with rows of American
hand-wringing and litigation. that this is unlawful behavior.” umbrella groups dispute studies flags on either side, a UH-1 Huey
Instead, prosecutors filed crim- Colleges and universities have showing that fraternity members helicopter and a granite monu-
inal charges on Friday against 18 also taken a tougher stance, at are disproportionately connected ment with the engraved names of
Penn State students in the death least outwardly, after being bat- to binge drinking and sexual as- residents who died in the Indian
of the student, Timothy Piazza. tered by reports about sexual as- sault. They note that other orga- War of 1862, the Civil War, World
The case offers the latest evi- sault and binge drinking. Univer- nizations, like sports teams, also Wars I and II, and the Korean and
dence of a harder line that prose- sities have shut down hundreds engage in hazing. Vietnam Wars. Coming soon to
cutors have started taking when of fraternity chapters, some have There are no figures kept by the this park will be an unlikely mon-
initiation rituals end in death prohibited freshman-year pledg- government or higher education ument from an even more unlike-
from alcohol or physical abuse. ing or imposed restrictions on groups of hazing incidents, stu- ly source: a black steel cube with
At Baruch College, Northern Illi- alcohol. A smaller number have dent deaths, excessive drinking a golden inverted pentagram on
nois University, Fresno State Uni- withdrawn formal recognition of or fraternity discipline; individual each side and an empty soldier’s
versity and elsewhere, fraternity all Greek-letter groups, forcing schools and fraternities generally helmet on the top, sponsored by
hazing deaths that once might them to operate only off-campus resist sharing internal data. But the Satanic Temple. It will be the
have been labeled regrettable ac- and without any official ties. in 2013, Bloomberg News docu- first monument sponsored by the
cidents have resulted in criminal What is less clear is how much mented more than 60 deaths over temple to be erected on public
charges against students. of a difference their actions make. eight years in fraternity activities, grounds, the group said. (NYT)
“Go back a generation or two “This is a huge challenge be- many of them involving initiation
and hazing was accepted conduct, cause we don’t own the houses, we rituals for would-be members,
part of the fraternity experience, don’t own the property, we aren’t and heavy drinking. Girl Escapes Alligator
part of the football experience,” the national” organization govern- RICHARD PÉREZ-PEÑA and The story invited skepticism:
said David LaBahn, president of ing fraternities, Penn State’s pres- SHERYL GAY STOLBERG With an alligator’s jaws encasing
her left knee, a 10-year-old Flor-
Investigator Is Removed Over Rikers Spying Claim ida girl did the only thing that
made sense, a parks official said.
“She was able to pry the alliga-
The commissioner of New York overseen an effort to listen in on Sunday, disputing some aspects of tor’s mouth open and remove her
City’s Correction Department, Jo- calls between one of its investi- the Department of Investigation’s leg,” said Katie Purcell, a spokes-
seph Ponte, removed his agency’s gators and inmate informants. account. He did not return calls or woman for the Florida Fish and
head of internal affairs on Monday The subordinates “deliberately respond to emails on Monday. Wildlife Conservation Commis-
and placed him on modified duty, a targeted D.O.I. investigators for Ponte, who appointed Kuczinski, sion, in a statement about the
spokesman for Mayor Bill de Bla- surveillance” and continued to do was notified of the eavesdropping attack, which happened shortly
sio said. so even after being told to end the in February. Another official had after 2:30 p.m. Saturday at Lake
Ponte acted in response to accu- practice, the investigation agency stopped it, but Ponte did not report Mary Jane in Orlando. But an
sations that the official, Gregory said in a statement released after it to the Department of Investiga- expert on alligator bite force said
Kuczinski, and his subordinates Kuczinski’s removal on Monday. tion — as city rules require — or Monday that it seemed unlikely
had spied on city investigators Neither Kuczinski nor his subor- take any action against Kuczinski. a child would be able to force
as they were conducting under- dinates had been “able to provide a The accusations against open jaws that could easily have
cover anticorruption operations coherent explanation for this mis- Kuczinski were detailed in a letter conveyed a thousand pounds of
at the troubled Rikers Island jail conduct,” the statement said. from the commissioner of the De- force. (NYT)
complex, the spokesman, Eric F. Kuczinski, the deputy commis- partment of Investigation, Mark
Phillips, said. sioner for the Correction Depart- G. Peters, to de Blasio that was de- Another Trump in Capital
Last week, the city’s Depart- ment’s Investigation Division, livered to City Hall on Wednesday.
ment of Investigation notified denied wrongdoing and defend- MICHAEL SCHWIRTZ Another Trump is on her way
the mayor that Kuczinski had ed his actions in an interview on and WILLIAM K. RASHBAUM to the capital. Tiffany Trump, the
23-year-old daughter of Presi-
In Travel Ban Hearing, Judges Weigh Trump’s Remarks dent Trump and Marla Maples,
the second of his three wives,
plans to attend law school at
WASHINGTON — Skeptical revised executive order limiting security assessments. Georgetown University, a school
federal judges peppered a gov- travel from six predominantly Groups challenging the order official said on Monday. “She has
ernment lawyer on Monday Muslim countries. have said Trump’s statements taken all the steps to enroll,” said
with questions about how much By the end of the argument, the concerning Muslims show that Mimi Koumanelis, a spokeswom-
weight to give President Trump’s judges appeared divided. the revised order is the product of an for the school. Ms. Trump’s
campaign statements calling for a Some seemed prepared to look religious hostility. decision ended monthslong spec-
“Muslim ban” as they assess the behind the face of the revised or- Most of Trump’s statements ulation about where she would
constitutionality of his revised der to take account of Trump’s were made before he took the oath choose to go to school, and on
travel ban. statements, and several suggest- of office. “Candidates talk about what merit. Would it be Yale? Or
The two-hour argument, before ed the remarks could doom the things on the campaign trail all would it be Harvard, Columbia or
a 13-judge panel of the federal ap- order. Others, though, said the the time,” said Jeffrey B. Wall, the New York University? In the end,
peals court in Richmond, Va., was law did not permit judges to sec- acting United States solicitor gen- it seems that Ms. Trump kept it in
the first appellate test of Trump’s ond-guess a president’s national eral. ADAM LIPTAK the family. (NYT)

BUSINESS TUESDAY, MAY 9, 2017 4

Sinclair Will Pay $3.9 Billion for Tribune THE MARKETS



In an era of information satu- vide Sinclair with a far-reaching He and others have pointed to DJIA NASDAQ S & P 500
ration, when cable news seems platform for its news program- examples like Sinclair’s hiring of 4.86 3.46 1.03
ubiquitous and Twitter posts ming. A Pew Research study last Boris Epshteyn, a former spokes- ↘ 0.02% ↘ 0.06% ↘ 0.04%
stream forth uninterrupted, local year showed that almost 60 per- man for President Trump, as its 21,002.08 6,097.30 2,398.26
television still holds a powerful cent of adults get their news from chief political analyst, and on-air
grip on the American conscious- television, and of those, almost 50 commentary of Mark Hyman, EUROPE
ness. And Sinclair Broadcasting percent rely on local stations. who provides reliably conserva-
Group just tightened its grip. That has stoked concerns tive arguments on dozens of Sin- BRITAIN GERMANY FRANCE
Already the largest owner of lo- about the pitfalls of consolida- clair stations. FTSE 100 DAX CAC 40
cal television stations in the Unit- tion, especially since Sinclair has Sinclair will acquire Tribune 3.43 22.34 49.45
ed States, Sinclair said on Mon- shown a willingness to use its 173 Media’s 42 stations, including its ↗ 0.05% ↘ 0.18% ↘ 0.91%
day that it had agreed to acquire stations to advance a right-lean- prize asset, WGN America, the 7,300.86 12,694.55 5,382.95
Tribune Media for about $3.9 ing agenda. superstation based in Chicago.
billion, beating out other suitors “It’s an incredible amount of Some analysts were quick to ASIA/PACIFIC
including 21st Century Fox. With power in one company’s hands,” throw cold water on the outrage,
the deal, Sinclair would reach said Craig Aaron, president of saying Sinclair’s expansion strat- JAPAN HONG KONG CHINA
more than 70 percent of house- Free Press, a consumer advocacy egy was more likely motivated by NIKKEI 225 HANG SENG SHANGHAI
holds across the country, with group that has opposed the deal. business considerations. 450.00 101.56 26.25
stations in many major markets, He added that Sinclair, based “This is about a play to get big- ↗ 2.31% ↗ 0.41% ↘ 0.85%
including Los Angeles, Chicago in Baltimore, had a tendency to ger because the world requires 19,895.70 24,577.91 3,076.79
and New York, giving it signifi- “centralize things as much as scale,” said Michael Nathanson,
cant heft at a time of increasing they can,” saying it produced sto- a media analyst with MoffettNa- AMERICAS
consolidation in the industry. ries from its headquarters that thanson. SYDNEY EMBER and
The acquisition would also pro- have a clear conservative slant. MICHAEL J. de la MERCED CANADA BRAZIL MEXICO
TSX BOVESPA BOLSA
Express Scripts to Cut Rates on About 40 Drugs ↗ 41.13 ↗ 847.13 ↗ 12.44
0.03%
0.26%
1.31%
15,623.17 65,709.74 49,498.11
It is one of the most acute in- medications. and will work when consumers
dignities of being uninsured in The move by Express Scripts, present a discount card or a mo- COMMODITIES/BONDS
this country: those with the least which has been widely criticized bile app to pharmacies to get
ability to pay are asked to fork as one of the major drivers of ris- discounts of up to a third off the GOLD 10-YR. TREAS. CRUDE OIL
YIELD
over the most for their prescrip- ing drug costs, comes just days list price. Commonly prescribed
tion drugs. after the House passed a health drugs, including some brands of ↗ 0.50 ↗ 0.04 ↗ 0.21
That’s because people with- care bill that some estimate could insulin, are included on the list $1,225.30 2.39% $46.43
out health insurance are forced leave millions of Americans with- about 40 products.
to pay the list price for a brand- out health insurance. But the plan comes with im-
name drug, while insurers have Tim Wentworth, the chief ex- portant caveats. Patients who FOREIGN EXCHANGE
access to a lower, negotiated rate ecutive of Express Scripts, said are covered by government
for the same products. about 30 million Americans ei- programs such as Medicare and Fgn. currency Dollars in
in Dollars fgn.currency
On Monday, one of the biggest ther have no insurance or high Medicaid will not be able to use it
pharmacy benefit managers, Ex- deductible plans. because drug companies, which Australia (Dollar) .7386 1.3539
.3761
press Scripts, said it would begin “We launched this with an idea helped negotiate the rates, could Bahrain (Dinar) 2.6587 3.1970
.3128
Brazil (Real)
offering a lower rate for a select that we can get those 30 million be seen as violating anti-kickback Britain (Pound) 1.2938 .7729
group of frequently used drugs to people similar discounts to what laws. And the payments also may Canada (Dollar) .7306 1.3688
people without health insurance, good-sized payers get, and pro- not count toward a consumer’s China (Yuan) .1448 6.9040
or to those who are stuck in plans vide them relief,” he said. deductible, which could end up Denmark (Krone) .1468 6.8110
with such high deductibles they The program, InsideRx, is a raising costs for them in the long Dom. Rep. (Peso) .0212 47.1400
18.0900
.0553
Egypt (Pound)
couldn’t otherwise afford their subsidiary of Express Scripts run. KATIE THOMAS Europe (Euro) 1.0928 .9151
Hong Kong (Dollar) .1285 7.7840
Comcast Links With Charter to Expand Wireless Services Japan (Yen) .0088 19.2060
113.24
.0521
Mexico (Peso)
Norway (Krone) .1157 8.6460
Singapore (Dollar) .7115 1.4054
As more consumers “cut the likely hope to use their combined The sector has sought to retain So. Africa (Rand) .0735 13.6145
cord” on traditional cable televi- scale to negotiate agreements customers who are considering So. Korea (Won) .0009 1132.6
sion, businesses selling those ser- with suppliers and take advan- watching TV over the internet, Sweden (Krona) .1131 8.8434
vices are responding by offering tage of a network of Wi-Fi hot and to attract more of their over- Switzerland (Franc) 1.0013 .9987
a wider range of products, hoping spots that the companies have all telecommunications spend- Source: Thomson Reuters
to retain customers. built for customers in their ser- ing.
Comcast and Charter Commu- vice areas. But the wireless sector has be-
nications amplified that trend on Many other cable and satellite come increasingly competitive. ONLINE: MORE PRICES
Monday, announcing that they companies in the United States of- Comcast is expected to begin AND ANALYSIS
would team up to offer cellular fer landline telephone and broad- offering its new Xfinity Mobile Information on all United
telephone and data services in band services as part of bundled wireless service for existing Æ
the United States, entering a fe- packages, and AT&T offers a so- broadband customers as soon as States stocks, plus bonds, mu-
rociously competitive market. called quad-play through its Di- this month. tual funds, commodities and foreign
The two companies had al- recTV satellite arm that includes Charter has said it plans to of- stocks along with analysis of indus-
ready said they would offer television, broadband, landline fer wireless service in 2018. try sectors and stock indexes:
wireless services, and they most and wireless services. CHAD BRAY nytimes.com/markets

BUSINESS TUESDAY, MAY 9, 2017 5

Powerful Clans Skirt Restraints in S. Korea

MOST ACTIVE,
Forget Machiavelli, or “Game the economy and have amassed The front-runner in Tuesday’s GAINERS AND LOSERS
of Thrones.” When it comes to immense political power. election, Moon Jae-in, has vowed % Volume
staying in power, South Korea’s “Chaebol family control as we to stop families from using non- Stock (Ticker) Close Chg chg (100)
richest business clans have the know it could end with this gen- profit foundations, complicated
game plan down. eration,” said Kim Woochan, a shareholding plans and other 10 MOST ACTIVE
There is the charity maneuver, professor of finance at Korea Uni- methods to keep control of busi- KateSp (KATE) 18.38 +1.41 +8.3 1254349
+0.9
559550
+0.22
23.96
Bankof (BAC)
in which family members park versity Business School in Seoul, nesses. One of his main advisers Spirit (SRC) 7.53 +0.02 +0.3 528528
5.55
their stakes in their business em- pointing to an intensifying back- is Kim Sang-jo, an economist Chesap (CHK) 11.13 +0.09 +1.6 393794
◊0.1
◊0.01
FordMo (F)
354352
pires in philanthropic nonprofits, lash against inherited wealth. “An known for hawkish views on the Tribun (TRCO) 42.40 +2.11 +5.2 308856
letting them keep control without opportunity as good as this one is chaebol. Centur (CTL) 24.80 +1.20 +5.1 260098
◊0.03
◊0.1
33.45
235085
Pfizer (PFE)
paying heavy taxes. unprecedented.” But the Democratic Party, led Sprint (S) 29.07 ◊0.28 ◊3.5 217861
7.76
GE (GE)
216144
◊0.5
◊0.15
There is the new company ma- But while the public blames the by Moon, holds only 119 seats in
neuver, in which they create new chaebol for an embarrassing se- the 300-member National Assem- % Volume
firms that strike lucrative and ries of political and business scan- bly. The Democrats would find it Stock (Ticker) Close Chg chg (100)
friendly business deals with the dals and for holding back South hard to get support from rival
others they control. Korea’s once-surging economy, parties in passing chaebol reform 10 TOP GAINERS 41.20 +6.20 +17.7 53000
Gigamo (GIMO)
And then there is old-fashioned they continue to hold consider- bills through a fractured legisla- Kosmos (KOS) 6.83 +0.88 +14.8 91887
corporate engineering, in which able political power. Their con- ture, where a pro-business lobby Newell (NWL) 51.93 +5.54 +11.9 142795
3DSyst (DDD)
+2.00 +11.8
93033
19.01
they merge arms of their empires trolling families have also proved also remains strong. Kaman (KAMN) 52.21 +5.20 +11.1 17888
to consolidate power, even as oth- adept at finding ways to keep con- But any campaign to overhaul KEMET (KEM) 13.22 +1.06 +8.7 11315
Comsto (CRK)
+0.68
8.60
4644
+8.6
er shareholders complain. trol, even as they face increasing the chaebol would be vulnerable Biohav (BHVN) 19.40 +1.49 +8.3 3518
With South Korea’s biggest busi- challenges from inheritance tax- to economics. If the economy KateSp (KATE) 18.38 +1.41 +8.3 1254349
Immuno (IMMU)
6.87
+0.51
+8.0
115948
ness empire, Samsung, caught up es, unhappy outside investors slows, politicians may fear that
in a nationwide political scandal, and their own family squabbling. constraining the chaebol would % Volume
a new generation of leaders has “Leaders, markets, they don’t hurt business activity. Stock (Ticker) Close Chg chg (100)
vowed to rip up that playbook. change overnight,” said Rhyu “There are people who recog- 10 TOP LOSERS
Major candidates in Tuesday’s Sang-young, a professor of polit- nize the problem, but also a lot Amplif (BETR) 8.59 ◊0.98 ◊10.2 10418
presidential election have said ical economy at Yonsei Univer- who don’t,” Kim said. “There are Crawfr (CRD.A) 8.06 ◊0.91 ◊10.1 394
8593
they will clamp down on the fam- sity in Seoul. “Every culture has plenty of people who think, yes, Alder (ALDR) 18.75 ◊2.00 ◊9.6 19870
19.05
E.W.Sc (SSP)
◊9.6
◊2.03
ily-controlled business empires, a strong legacy, inertia. It takes there has to be an owner family Kopper (KOP) 38.90 ◊3.85 ◊9.0 3602
368
called chaebol, which dominate time.” involved.” (NYT) Crawfr (CRD.B) 9.88 ◊0.96 ◊8.9 9444
EveriH (EVRI)
◊0.55
◊8.3
6.11
IBP (IBP) 48.05 ◊4.15 ◊8.0 4767
◊7.0
Coach Acquires Kate Spade to Preserve Its Cachet Tailor (TLRD) 12.28 ◊0.92 ◊7.0 19030
1820
Citize (CIA)
6.25
◊0.47
Source: Thomson Reuters
Coach and Kate Spade have ries, fragrances and homeware.
long been the affordable luxury “The acquisition of Kate Spade Stocks on the Move
brands of choice for the aspira- is an important step in Coach’s
tional shopper. From Coach’s evolution as a customer-focused, Stocks that moved substantially or traded
embossed logo and leather hand- multibrand organization,” Victor heavily Monday:
bags to Kate Spade’s kitschy, col- Luis, chief executive of Coach, Kate Spade Inc., up $1.41 to $18.38. The
orful accessories, their products said in a statement on Monday. handbag maker agreed to be bought by
lured buyers who wanted a taste “We believe Coach’s exten- Coach for $18.50 a share.
of fashion without the sharpest sive experience in opening and Straight Path Communications Inc., up
edges — or the highest cost. operating specialty retail stores $53.25 to $214.74. The wireless spec-
But in recent years, those cus- globally, and brand building in in- trum licensing company said it received
tomers have gravitated to brands ternational markets, can unlock a new offer worth $184 a share from a
at more extreme ends of the style Kate Spade’s largely untapped “multi-national telecommunications
spectrum, toggling between global growth potential,” he add- company.”
e-commerce giants like Amazon, ed. Newell Brands Inc., up $5.54 to $51.93.
fast-fashion brands like H&M Coach, which offered $18.50 a The consumer products company raised
and Zara, and luxury houses like share in cash for Kate Spade, a its annual forecast after it reported better
Gucci. premium of 9 percent on the clos- first-quarter results than expected.
Now, Coach has decided that its JENNIFER S. ALTMAN FOR THE NEW YORK TIMES ing price on Friday, said it expect- Tribune Media Co., up $2.11 to $42.40.
best path to growth is spending Coach hopes to build a ed to generate about $50 million The TV station company accepted an offer
$2.4 billion for Kate Spade, hop- European-style luxury group in savings from the deal within of $43.50 a share from Sinclair Broadcast
ing that expanding its portfolio of with an American aesthetic three years. Group.
brands will help carve new terri- and price. The has fallen on hard times in Tyson Foods Inc., down $3.85 to $59.48.
tory in the crowded market. recent years, struggling against The meat producer reported a weaker
Its acquisition of Kate Spade, heightened competition, its own fiscal second quarter than Wall Street
announced on Monday, confirms identifiably American aesthetic discounting of products and a anticipated.
months of speculation on Wall and price. bloated store network. PetMed Express Inc., up $6.16 to
Street, and is the latest in a se- Coach’s handbags sell for $285 “Coach stuff was just so ubiqui- $30.38. The pet pharmacy company set
ries of purchases by the compa- to $3,000, while Kate Spade’s tous, and the brand had become a an all-time high after it said new orders and
ny, which aims to build a luxury retail for $100 to $500. (Louis bit devalued, and no one wanted reorders climbed in its latest quarter.
group in the vein of European Vuitton’s are priced from $970 to to pay full price for it,” said Neil Newfield Exploration Co., up 30 cents to
groups like LVMH Moët Hen- $15,800.) The two companies also Saunders, a retail analyst with $34.89. Energy companies did better than
nessy Louis Vuitton and Kering, offer a combination of men’s wear, GlobalData Retail, a research the rest of the market Monday as the price
with two major differences: an ready-to-wear fashion, accesso- firm. (NYT) of oil inched higher. (AP)

SCIENCE TUESDAY, MAY 9, 2017 6

Older Couples Find Comfort in ‘Shacking Up’ Theories on Salt

May Be Wrong
In many ways, the life that Kar-
en Kanter and Stan Tobin share in
Philadelphia sounds typical. Both The salt equation taught to doc-
75, they see movies and plays to- tors for more than 200 years is not
gether, visit children and grand- hard to understand.
children, try new restaurants. The body relies on this essential
Tobin, an accountant who main- mineral for a variety of functions,
tains a small tax practice, makes including blood pressure and the
time for a monthly men’s group. transmission of nerve impulses.
A retired middle-school teacher, Sodium levels in the blood must
Kanter hustles between book and be carefully maintained.
art appreciation groups while vol- If you eat a lot of salt — sodi-
unteering and writing a novel. um chloride — you will become
He supported her through thirsty and drink water, diluting
breast cancer treatment years your blood enough to maintain
ago. She has been prodding him MARK MAKELA FOR THE NEW YORK TIMES the proper concentration of sodi-
about putting on pounds, so he has um. Ultimately you will excrete
returned to Weight Watchers. Karen Kanter and Stan Tobin of Philadelphia have shared a much of the excess salt and water
They co-own their condo near home since 2004, but they are not married. in urine.
the Museum of Art and a cottage The theory is intuitive and sim-
in upstate New York. She has his of cohabiters over age 50 rose to tangle,” she said. ple. And it may be wrong.
power of attorney and health care 4 million from 2.3 million over the “Our life is good together, so New studies of Russian cosmo-
proxy, and vice versa. decade, Stepler found, and the why disturb it? I just don’t see the nauts, held in isolation to simulate
“We love each other and want number over age 65 doubled to importance of that piece of paper.” space travel, show that eating
to be together, and we’ve made about 900,000. In later life, cohabitation — like more salt made them less thirsty
the commitment to stay together “It used to be called shacking remarriage — brings companion- but somehow hungrier. Subse-
until death parts us,” Kanter said. up, and it was not approved of,” ship and wider social circles, not quent experiments found that
But although they have been a said Kelly Raley, a sociologist at to mention sexual intimacy, at ag- mice burned more calories when
couple since 2002 and have shared the University of Texas, Austin, es when people might otherwise they got more salt, eating 25 per-
a home since 2004, they are not and former editor of The Journal face isolation. Financially, pooling cent more just to maintain their
married. And among older adults, of Marriage and Family. Families resources often improves elders’ weight.
they have a lot of company. and religious groups often con- economic stability. The research, published recent-
The number of people over 50 demned living together outside It also offers certain economic ly in two papers in The Journal of
who cohabit with an unmarried marriage. But Americans are far protections. Older adults have Clinical Investigation, contradicts
partner jumped 75 percent from more accepting now, she said, and more debt than previous genera- much of the conventional wisdom
2007 to 2016, the Pew Research the people turning 60 “are very tions, Rutgers University sociolo- about how the body handles salt
Center reported last month — the different from the people who gist Deborah Carr pointed out, in- and suggests that high levels may
highest increase in any age group. were 60 twenty years ago.” cluding mortgages and children’s play a role in weight loss.
“It was a striking finding,” said Kanter, for instance, had di- college loans. “You become re- The findings have stunned kid-
Renee Stepler, a Pew research an- vorced twice after long marriages sponsible for your legal spouse’s ney specialists.
alyst. “We often think of cohabit- — 38 years, in total — when she debt, but not for your cohabiting “This is just very novel and fas-
ers as being young.” met Tobin on Match.com. “Getting partner’s debt,” she said. cinating,” said Dr. Melanie Hoe-
Most still are. But the number divorced gives you so much to un- PAULA SPAN nig, an assistant professor of med-
icine at Harvard Medical School,
Battle of Cuttlefish Over Female Caught on Tape who noted that the supplement
alone to one of the studies ran to
1,000 pages. “The work was metic-
Cuttlefish, relatives of octopus at the University of Haifa in Israel, searchers recorded, one male is ulously done.”
and squid, have millions of color recorded video of the fight, which guarding a female after mating. A Dr. James R. Johnston, a profes-
cells in their skin, which gives they just released, along with an second male intrudes and actual- sor of medicine at the University
them extraordinary control over article in The American Naturalist ly runs the first male off with his of Pittsburgh, marked each unex-
their appearance. They are bril- describing the encounter. displays. All of this follows a mod- pected finding in the margins of
liant at camouflage, and they can Allen said work on her Ph.D. el of gradual escalation, with each the two papers. The studies were
create displays to communicate to and other projects got in the way testing the other’s size and ability, covered with scribbles by the time
other cuttlefish. of preparing an article on the cut- as such conflicts are supposed to he was done.
The males do this when they are tlefish battle, although they both proceed. “Really cool,” he said, although
fighting over a female. Their bat- knew how rare and compelling the But when the second male (the he added that the findings need to
tles are primarily visual, flashing fight was. species is Sepia officinalis) tries be replicated.
a zebra strip display at a rival, or Allen said this was the first to mate with the female, the first These findings have opened up
increasing the size of one pupil recording of a physical battle be- male comes back and attacks. an array of puzzling questions.
and creating a dark eye ring. Sci- tween male cuttlefish. Such duels The two shoot dark brown ink and “The work suggests that we re-
entists have seen much of this be- are thought to be rare because of whirl around in a tangle of tenta- ally do not understand the effect of
havior, but in 2011 off the coast of the importance of unmarred skin cles. sodium chloride on the body,” said
Turkey two researchers who were to creating camouflage and other That was the rare event. In the Hoenig. “These effects may be far
diving and observing the common skin signals. end, the first male regained his po- more complex and far-reaching
cuttlefish witnessed something “They usually do battle with sition as consort, and the record- than the relatively simple laws
more extreme — a physical battle. these really beautiful skin dis- ings didn’t reveal any physical that dictate movement of fluid,
Justine J. Allen of Brown Uni- plays,” Allen said. damage to either male. based on pressures and particles.”
versity and Derya Akkaynak, now In the encounter the two re- JAMES GORMAN GINA KOLATA

JOURNAL TUESDAY, MAY 9, 2017 7

Building a Vision of Heaven for Thailand’s ‘God’



BANGKOK — On a broad parade ground well as millions of Thais around the nation. dog, Tongdaeng.
not far from the Grand Palace, Thai masters The main cremation tower will be 165 feet The cremation itself will take place in a
are constructing a vision of heaven — an ele- tall, with a seven-tiered roof and spire, sur- confined incinerator within the structure. Any
gant, nine-spired funeral pyre for King Bhu- rounded by eight smaller pavilions represent- remaining bones will be enshrined as royal
mibol Adulyadej that will send his soul into ing mountains that surround Mount Meru. relics at the Throne Hall of the palace, and the
the afterlife later this year. Ponds at the pyre’s four corners represent ashes will be kept separately at two temples,
Built to represent Mount Meru, the center the Cosmic Ocean that flows around it. There the government said. The pyre will later be
of the Hindu universe, it will embody the high- will be a small garden with a plot of rice and dismantled, its wood sent to temples or other
est of Thai arts and architecture, with delicate vegetation commemorating the king’s com- destinations around the country.
towers adorned with images from mythology mitment to rural development. The body of King Bhumibol, or Rama IX,
and from the life of the king, who died last The pyre’s iconography will portray some now lies in state at the palace, where hun-
October at the age of 88, after 70 years on the of the king’s accomplishments, including dreds of thousands of mourners have filed
throne. dams, wind farms, reservoirs and irrigation past to honor the monarch many revere as
The cremation is planned for Oct. 26, the projects. It will have paintings of angels and divine. Every day, thousands of Thais in sol-
second of five days of funeral ceremonies. It mythical creatures, and hundreds of sculp- emn black make a stark contrast as they cross
will be witnessed by 8,000 invited guests as tures, including a statue of the king’s favorite paths with large groups of brightly dressed
tourists.
CROSSWORD Edited by Will Shortz Over his long reign, the king came to em-
body the spirit and sense of nationhood of
PUZZLE BY PETER A. COLLINS Thailand and his death has been a national
ACROSS 42 Decorative 1 2 3 4 5 6 7 8 9 10 11 12 13 trauma.
1 Social adroitness pitchers “The late king has never really left us,” said
5 City between 44 Was vaccinated 14 15 16
Gainesville and 46 Pinch in the Sumet Tantivejkul, secretary-general of the
Orlando kitchen 17 18 19 Chaipattana Foundation, which oversees
10 Skateboarder’s 49 Hit with a Taser 20 21 22 many of King Bhumibol’s development proj-
incline ects. “He taught us so many things during his
14 Radar response 50 Terre Haute sch. 23 24 70-year reign. Let us follow in his footsteps.”
15 Mushroom 51 Prepare for In this overwhelmingly Buddhist nation,
someone’s
variety birthday, 25 26 27 28 29
16 Garfield’s foil in perhaps beliefs about the monarchy are an amalgam
the comics 30 31 32 33 34 35 36 of Buddhism and Hindu mythology. While the
17 View furtively 55 Org. for top- 37 38 39 40 41 chanting of the monks at the funeral will be
notch H.S.
19 Main role students Buddhist, the cremation itself, with the pyre
20 Direct, as a 57 Blue-blooded 42 43 44 45 at its center, will be Hindu, said Tongthong
collision Chandransu, a professor at Chulalongkorn
58 Hollywood’s 46 47 48 49 50
21 John of “Saturday Diane, Buster or University who is an expert on the monarchy.
Night Fever” Michael 51 52 53 54 55 56 “We believe that the king is a god from
23 Amber Alert, e.g., 61 Seed cover
for short 57 58 59 60 heaven,” he said. “He is totally a god, so when
24 Complete the 62 Briefly put pen to he passes away he has to get to heaven” to
paper, say
negotiations 61 62 63 rejoin the main Hindu gods, Brahma, Vishnu
25 Like the number 64 “Don’t touch and Shiva.
that, honey!”
of games in a 64 65 66 Although the new king, Maha Vajiralong-
“best of” series 65 Engine capacity 67 68 69
27 Cut (off) unit korn, formally ascended to the throne after
29 Pitchfork point 66 Increase 5/9/17 the death of his father, his coronation as King
30 Secure 67 Poses a poser 3 Takeout food 18 Qantas Airways 43 Swedish aircraft Rama X won’t take place until after the crema-
some urban 68 Relatively cool together with a symbol giant tion. SETH MYDANS
transportation red giant Netflix movie, 22 Barn topper
33 Rejoice 69 The second “S” of maybe 24 Practice boxing 45 Breathing
problem
37 Oscar winner MS-DOS: Abbr. 4 Garden 25 Look upon with
Jared of “Dallas amphibians lust 47 Frowny looks
Buyers Club” 5 Tip of the Arabian 26 Was the 48 ___ tweed
38 Buy and sell, as DOWN Peninsula clue giver in 51 Swahili master 620 Eighth Avenue, New York, NY 10018
stocks 1 Radio host John •
6 “Brooklyn Pictionary 52 Nestlé bars filled
41 Jacob’s biblical 2 Teenage skin Nine-Nine” figure 28 Start of the with tiny bubbles Tom Brady, Editor
twin malady fourth qtr. email: [email protected]
7 Rocky glacial 53 “Hogan’s Heroes”
ridge 31 Brothels colonel •
ANSWER TO PREVIOUS PUZZLE 8 Look upon with 32 Give up on, in 54 Noted berry farm TimesDigest Sales Office
lust slang founder Walter phone: (212) 556-1200
GP A M AG OO SC OW S 34 Class that covers 56 Puts up, as a fax: (646) 461-2364
OL D C LOTH IO NI A 9 High-pH Reconstruction painting email: [email protected]
substance
BA D E LL EF AN NI NG and Prohibition •
IN LA W R UN CO DE 10 Obsolescent 35 Neighbor of 58 Deborah of
“The King and I”
desktop
GE EY AT HI NK EN C accessories Vietnam For advertising information
EN YA HA RS H 36 “Swan Lake” 59 Plains tribe and to request a media kit
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AN TS PR OM IN OI L 11 “Hello” singer, article of attire contact InMotion Media:
2015
SE E B EE BA LM UM A 12 Sporty Mazda 39 Nod off 60 Politico Gingrich phone: (212) 213-5856
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LE AS E I NS T 13 Organ part zeta and theta crumpets •
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AG EN T T EX AS QT S Crosswords for young solvers: nytimes.com/studentcrosswords.

OPINION TUESDAY, MAY 9, 2017 8


EDIT ORIAL S OF THE TIME S DAVID LEONHARDT

The Kushners and Their Golden Visas A Lesson for the Media

The hacked emails from Emmanuel Ma-
The Kushner family has been caught in a ed States. Affluent Chinese families seeking a cron’s French campaign appear to be spec-
shameless act of name-dropping. It has been foothold in a stable democracy snap up most tacularly mundane, according to people who
highlighting its White House connections to of the visas, which are capped at 10,000 a year. have read them. They include briefings on is-
entice wealthy Chinese investors and promis- Defenders of EB-5 say it fosters investment sues, personal exchanges and discussions of
ing them green cards in return under a special and creates jobs. But many real estate projects the weather. No doubt they also include some
government visa program. That’s pretty bad. funded through the program, including the embarrassing thoughts, but so far they are no-
But it’s also a scandal that Congress allows real Kushner Companies’ One Journal Square de- tably lacking in scandal.
estate developers to use the American immi- velopment in Jersey City, would almost sure- Does this remind you of anything?
gration system to pad their profits. ly have happened anyway. Without access Ah, yes. Last year, Russian agents stole
Jared Kushner, President Trump’s son-in-law to wealthy Chinese families, builders would thousands of emails from Hillary Clinton’s
and special adviser, is officially no longer man- raise more money from banks, pension funds campaign and published them via WikiLeaks.
aging his family’s businesses, but he still bene- and other investors by agreeing to pay higher The dominant feature of the emails was their
fits from many of them. His sister Nicole Meyer interest rates, which would reduce their profits ordinariness.
was in Beijing and Shanghai this past weekend somewhat. They contained no evidence of lawbreaking,
seeking investors for a luxury apartment proj- Sen. Dianne Feinstein, D-Calif., and Sen. major hypocrisy or tawdry scandal. Even the
ect her family is developing in Jersey City, a Charles Grassley, R-Iowa, introduced a bill in worst revelation — a Democratic official and
short train ride from downtown Manhattan. Her January that would eliminate the EB-5 pro- CNN contributor fed a town hall question to the
sales pitch cited her brother and laid out how gram. Before Trump took office, the Depart- campaign in advance — qualified as small beer.
a $500,000 investment could provide a path to ment of Homeland Security proposed raising The Clinton emails were instead full of staff
American citizenship. The Kushner Companies the minimum investments for the program, members jockeying for position, agonizing
later offered a mealy-mouthed apology “if that which could be a first step toward reforming over strategy, complaining about their bosses
mention of her brother was in any way inter- it. But it is not clear whether the Trump admin- and offering advice to those same bosses.
preted as an attempt to lure investors.” istration or Congress will make substantial Despite the mundane quality of the Clinton
Meyer’s disturbing investor pitch was made changes since influential real estate groups, in- emails, the media covered them as a profound
possible by the EB-5 investor visa, which cluding the Kushner and Trump families, ben- revelation. But this was no scoop. It was ma-
opens an express lane into the United States efit from it. Trump signed a spending bill last terial stolen by a hostile foreign government,
for those who can afford to invest nearly 10 week that extended the EB-5 program without posted for all to see, and it was only occasion-
times what the median American household any changes through the end of September. ally revealing.
earns in a year. The program, which covers Trump made restricting immigration, in- With a president who lies all the time, jour-
business investments as well as real estate, cluding for refugees fleeing violence, a central nalism becomes all the more important. And
was created in 1990 and took off in the past 10 plank of his campaign. Yet, he seems O.K. with those of us practicing it need to be open to re-
years as developers figured out how to turn it letting real estate moguls take advantage of a flection and criticism.
into a cheap source of capital. Investors are program that sells green cards. In this admin- The overhyped coverage of the hacked
willing to settle for low returns if it means they istration, the interests of the first family and its emails was the media’s worst mistake in 2016
gain permanent residence status in the Unit- rich and powerful friends come first. — one sure to be repeated if not properly un-
derstood. The sensationalism exacerbated a
Monuments of White Supremacy second problem with the coverage: the obses-
sion with Clinton’s private email server.
I disagree with people who say that the serv-
The Confederate-flag-waving white suprem- vests. It is called the Battle of Liberty Place er was a nonstory. Clinton violated govern-
acist who murdered nine African-Americans in Monument and was erected in 1891 to com- ment policy and was not fully honest. The F.B.I.
a Charleston, S.C., church two years ago made memorate the uprising of the Crescent City conducted an investigation. All of that adds up
it impossible to evade the fact that the banner White League, white supremacists who op- to a real news story. The question is scale.
— and Confederate ideology generally — had posed Reconstruction and the integrated po- Last weekend, France’s mainstream media
been a rallying point for white supremacy and lice force that resulted. showed how to exercise better judgment.
racial terrorism for more than 100 years. Some who claim attachment to these mon- Late Friday, two days before the election,
That tragedy brought fresh urgency to a uments are white supremacists themselves. hackers released the Macron campaign emails.
reappraisal of public monuments that was Others need to understand that the monu- Publications could have reported on the sub-
underway in many Southern communities, ments were typically built during the late 19th stance of the emails, but they largely did not. “It
including New Orleans, whose mayor an- and early 20th centuries, when the Southern was a manipulation attempt — people trying to
nounced within days of the massacre that he states were unleashing a reign of racial terror manipulate our voting process,” said Gilles van
planned to relocate four Confederate memo- on black communities while simultaneously Kote, deputy chief editor of Le Monde.
rials that were built to celebrate a time when writing them out of their constitutions. French journalists evaluated what truly was
black citizens were not fully human in the eyes Critics have accused Mayor Mitch Landrieu major news. Material released by a hostile for-
of the state. of trying to rewrite history. But as he noted eign government, with the aim of confusing
The city plans to place the memorials in stor- when he addressed the New Orleans Council voters and evidently without significant new
age until an appropriate setting can be found, on this matter two years ago, many people, in- information, failed to qualify.
perhaps a museum that could put them in his- cluding African-Americans, who were voice- The two cases obviously are not identical.
torical context. But the unfolding backlash less when the city stocked its plazas and thor- But they are similar enough to say that the
shows the extent to which many citizens are oughfares with monuments to white suprem- French media exercised better, more sober
hesitant to part with even the most abhorrent acy have voices now and deserve to be heard judgment than the American media.
artifacts of history and how little many of them on this matter. The media should not pretend that the only
know about when and why these memorials As for the city’s future, he asked, “How can we two options are neglect and sensationalism.
were built. expect to inspire a nation when our most prom- There is a middle ground, one where journal-
The first memorial was relocated last month inent public spaces are dedicated to the rever- istic judgment should prioritize news over the
by workers who wore masks and bulletproof ence of the fight for bondage and supremacy?” whiff of news.

SPORTS TUESDAY, MAY 9, 2017 9

Rangers Fight Best When They Are Cornered In Brief



GREENBURGH, N.Y. — The captured 10 of their last 11 games But their penchant for late-
Rangers have squandered three at home in which they were facing game collapse returned again Capitals Drop Penguins
late leads during this year’s playoff elimination. in Saturday’s Game 5, leading to To Force a Game 7
N.H.L. playoffs, including two in “Every situation is different,” another overtime loss. They are
their current series against the said defenseman Dan Girardi, a faced with the prospect of fighting Andre Burakovsky scored
Ottawa Senators. veteran of 121 playoff games with out of the corner again. twice, Nicklas Backstrom got
The Rangers’ inability to close the Rangers since 2007. “We’ll use Such late-game drama has his sixth goal of the playoffs and
out games at Ottawa’s Canadian that experience and hopefully been common in these playoffs. the Washington Capitals beat
Tire Centre leaves them facing translate into a win tomorrow.” Through Sunday, 14 of 22 games the Pittsburgh Penguins, 5-2, on
elimination in Thursday’s Game The Rangers have been partic- in the second round have had a Monday night to force a Game 7
6 at Madison Square Garden. ularly good at turning the page winning goal scored in the third in their taut Eastern Conference
But despite trailing their sec- after subpar performances this period or overtime. That includes semifinal. John Carlson and T. J.
ond-round series against the Sen- postseason. After losing Game 2 Anaheim’s memorable three-goal Oshie also scored for the Capitals.
ators by three games to two, the of their first-round series at Mon- rally against Edmonton on Fri- Braden Holtby stopped 16 shots
Rangers projected calm on Mon- treal in overtime — a game in day, when the Ducks scored three to send the series back to Wash-
day, perhaps because their histo- which they gave up the lead with times with their goaltender pulled ington for the deciding game on
ry might provide comfort. 18 seconds remaining in regula- before prevailing in overtime. Wednesday night. Jake Guentzel
The Rangers have won 15 of the tion — and then dropping Game “You cannot quit believing picked up his playoff-leading
last 20 games in which they have 3 at home, they reeled off three in any situation,” Ducks Coach ninth goal, and Evgeni Malkin
stared at playoff elimination, dat- straight wins to capture the series. Randy Carlyle said. “Momentum added another 52 seconds later
ing to Game 6 of a first-round se- And after blowing another late swings in the playoffs are so dras- late in the third period to make
ries against Ottawa in 2012, which lead against the Senators in Game tic, and they mean so much, that the score look cosmetically bet-
they rallied to win in seven games. 2, and losing in overtime, the when you get one you start to be- ter, but the Penguins were never
At the Garden, the Rangers’ Rangers responded with two em- lieve. It sends a different message in it. This is the fourth time the
history is even better: They have phatic home wins to tie the series. to the opposition.” ALLAN KREDA Penguins and Capitals will meet
in a Game 7. (AP)
Warriors Rout Jazz to Complete Semifinals Sweep N.B.A. PLAYOFFS
MONDAY
SALT LAKE CITY — Stephen hoped his team would get out to a the Jazz. That ended Monday. Golden State 121, Utah 95
Curry scored 30 points, and the fast start and the Warriors did ex- Thompson rebounded from a Warriors win series, 4-0
Golden State Warriors completed actly that. Golden State led 39-17 six-point effort in Game 3 with N.H.L. PLAYOFFS
a second-round sweep of the Utah at the end of the first quarter after back-to-back jumpers out of the MONDAY
Jazz with a 121-95 victory Monday an onslaught from Klay Thomp- gate. Curry then drained consecu- Washington 5, Pittsburgh 2
night. son and Curry. They combined to tive 3s and the rout was on. Series is tied, 3-3
The defending Western Confer- shoot 6 for 8 in the opening period. The Jazz started 3 for 16 from
ence champions have won both Thompson finished with 21, the field as Golden State hit from A.L. SCORES
their series in four games and Kevin Durant scored 18 and Dray- all areas and finished shooting 57.1 MONDAY
now await the winner of the Rock- mond Green posted his third percent in the first quarter. Baltimore 6, Washington 4
ets-Spurs series that is tied at 2-2. career postseason triple-double The Jazz tried to put off their va- Toronto 4, Cleveland 2
Kansas City 7, Tampa Bay 3
The Warriors kept pace with with 17 points, 10 rebounds and 11 cation. They used a 14-0 run early
defending champion Cleveland in assists. in the second quarter to cut the N.L. SCORES
what has appeared like an inevi- Gordon Hayward led the Jazz lead to 10 points. Utah closed the SUNDAY’S LATE GAME
table third straight N.B.A. Finals with 25 points, and Shelvin Mack half with a 12-2 run to trail 60-52 at Yankees 5, Chicago Cubs 4, 18 innings
matchup. Both teams are 8-0 thus chipped in 18. halftime, but every time the Jazz MONDAY
far. Curry entered the game averag- made a significant run, the War- Yankees 10, Cincinnati 4
Mets 4, San Francisco 3
Mike Brown, the interim head ing 26.7 points in the playoffs, but riors answered and pushed the St. Louis 9, Miami 4
coach, said before the game he Thompson had struggled against lead back to double digits. (AP) Chicago Cubs at Colorado, postponed
WEATHER Houston 83/ 60 0 84/ 69 PC 85/ 71 PC Cape Town 66/ 46 0 67/ 46 PC 68/ 52 S
Kansas City 83/ 58 0 85/ 64 S 81/ 59 T Dublin 54/ 41 0 55/ 37 PC 59/ 43 PC
High/low temperatures for the 21 hours ended at 4 p.m. Los Angeles 70/ 51 0 68/ 60 PC 69/ 57 PC Geneva 59/ 46 0.04 61/ 40 PC 70/ 50 PC
yesterday, Eastern time, and precipitation (in inches) for Miami 87/ 68 0 88/ 71 S 88/ 72 S Hong Kong 84/ 76 0.06 86/ 77 C 86/ 78 PC
the 18 hours ended at 1 p.m. yesterday. Expected condi- Mpls.-St. Paul 70/ 46 0.01 71/ 53 C 70/ 49 C Kingston 86/ 79 0.01 88/ 77 PC 89/ 76 PC
tions for today and tomorrow. New York City 57/ 45 0 60/ 48 PC 63/ 50 PC Lima 75/ 66 0 76/ 67 PC 77/ 68 PC
Weather conditions: C-clouds, F-fog, H-haze, I-ice, Orlando 87/ 59 0 90/ 61 S 95/ 65 S London 54/ 45 0 58/ 42 C 62/ 46 PC
PC-partly cloudy, R-rain, S-sun, Sh-showers, Sn-snow, SS- Philadelphia 60/ 43 0 64/ 47 PC 69/ 48 PC Madrid 84/ 52 0 83/ 54 PC 73/ 52 T
snow showers, T-thunderstorms, Tr-trace, W-windy. Phoenix 83/ 61 0 73/ 59 T 77/ 63 C Mexico City 79/ 59 Tr 77/ 57 PC 78/ 56 PC
Salt Lake City 70/ 56 0.17 75/ 54 PC 75/ 55 PC Montreal 43/ 36 0.04 50/ 35 C 57/ 40 C
U.S. CITIES
San Francisco 69/ 50 0 71/ 52 PC 66/ 52 PC Moscow 37/ 34 0.46 43/ 29 C 43/ 28 C
Yesterday Today Tomorrow Seattle 64/ 46 0 69/ 48 S 72/ 53 PC Nassau 86/ 70 0 86/ 72 S 87/ 73 S
Albuquerque 79/ 51 0 72/ 44 T 61/ 47 PC St. Louis 83/ 54 0 87/ 66 PC 83/ 66 T Paris 55/ 48 0.01 60/ 41 PC 66/ 53 PC
Atlanta 78/ 51 0 86/ 63 PC 88/ 65 S Washington 64/ 47 0 67/ 51 PC 71/ 55 PC Prague 55/ 45 0.01 47/ 34 C 56/ 38 PC
Boise 68/ 40 0 75/ 49 S 80/ 56 S FOREIGN CITIES Rio de Janeiro 82/ 70 0 81/ 70 S 81/ 69 PC
Boston 55/ 45 Tr 54/ 44 PC 58/ 45 C Rome 69/ 50 Tr 69/ 50 PC 70/ 57 PC
Buffalo 49/ 36 0 51/ 35 C 57/ 39 PC Yesterday Today Tomorrow Santiago 66/ 51 0.02 69/ 47 PC 61/ 47 PC
Charlotte 76/ 46 0 80/ 60 PC 87/ 63 PC Acapulco 88/ 74 0 86/ 78 PC 86/ 77 PC Stockholm 41/ 34 0.35 43/ 24 SS 44/ 26 Sh
Chicago 57/ 34 0 52/ 44 R 60/ 46 Sh Athens 81/ 64 0 80/ 61 PC 77/ 60 PC Sydney 68/ 50 0 68/ 55 PC 69/ 55 S
Cleveland 55/ 37 0 59/ 42 PC 64/ 49 PC Beijing 89/ 59 0 86/ 53 S 85/ 55 PC Tokyo 80/ 59 0 73/ 61 PC 68/ 63 R
Dallas-Ft. Worth 85/ 64 0 83/ 68 PC 83/ 69 C Berlin 52/ 45 0.16 51/ 39 C 52/ 38 Sh Toronto 52/ 36 0 53/ 35 C 56/ 39 PC
Denver 73/ 50 0.22 65/ 46 T 57/ 44 R Buenos Aires 66/ 64 0.32 66/ 45 S 62/ 49 S Vancouver 60/ 48 0 60/ 48 PC 64/ 52 C
Detroit 58/ 34 0 59/ 43 PC 62/ 47 PC Cairo 99/ 70 0 101/ 74 S 101/ 68 S Warsaw 50/ 45 0.16 47/ 30 Sh 51/ 39 Sh

SPORTS JOURNAL TUESDAY, MAY 9, 2017 10

Giants Are Confronting Misery and Misfortune Aplenty



The bus carrying the players at least; the players filed off believing, and there’s a lot of
with the worst record in the and squeezed into a second baseball left. At the same time,
National League caught fire on bus for coaches and staff. But you want to avoid having com-
Sunday. Yes, this really happened the Giants arrived in New York placency set in to where you go,
to the San Francisco Giants, on without Madison Bumgarner, ‘Well, there’s a lot of baseball left,’
On their way from the who pitched them to victory over and you lose that sense of urgen-
ballpark in Cincinnati the Mets in that wild-card game. cy. A lot of things have to happen,
BaseBall to the airport in Ken- Bumgarner sprained his left to be honest with you. We have to
Tyler tucky. It has been that shoulder in a dirt-bike accident pitch better. We have to swing the
Kepner kind of season. on a day off in Denver last month. bats better. We just have to play
“It had never hap- “It’s tough, because he has better all-around ball.”
pened to me, so I didn’t really been that fixture,” catcher Buster Bumgarner’s accident hurts
know what to think,” first base- Posey said. “That first game in the Giants’ chances, to be sure,
man Brandon Belt said. “We’ve Cincinnati, we got trounced, and I but General Manager Bobby
probably had one break down believe his spot would have been BEN MARGOT/ASSOCIATED PRESS Evans said the team was mostly
before; never really had one the second game. Sometimes that San Francisco’s Michael relieved.
catch on fire and start smoking can really change the momentum Morse preparing to bat in a “There are a lot of shoulder
like that. It was almost funny to of the series if you have your guy game last month. injuries that are more severe,”
see it, because you can’t believe come in and be that stopper.” Evans added.
it’s actually happening.” The Cincinnati series was his- Bumgarner is resting until he
That is a fitting summary of the torically bad: The Giants lost by 28th of 30 teams in the majors. can begin to rebuild his arm. But
Giants in 2017: You can’t believe 13-3, 14-2 and 4-0. The last time Their offense was averaging just the Giants have no time to waste
it’s actually happening. How they had been outscored by 26 3.28 runs per game, the lowest in as they wait for him.
could a team with this pedigree runs in a series of any length was the National League. They had al- “You’ve got to be careful that
— three championships in this in 1922, against Pittsburgh at the so made eight errors in their last you assume the attitude of, ‘Hey,
decade, and a wild-card spot last Polo Grounds. seven games. we’ll be fine, we’ll be fine,’ ” Bochy
October — have staggered into There is no single cause of “You never lose your sense said. “Well, we’re not fine now,
Citi Field with an 11-21 record? the Giants’ misery. Their E.R.A. of optimism,” Manager Bruce and it’s time for us to do some-
Nobody was hurt on the bus, before Monday was 4.81, ranking Bochy said. “You’ve got to keep thing.”



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