May 16, 2024

What Will Apple Do With Will Smith’s ‘Emancipation’?

Though Mr. Smith can still be nominated for his work, the reaction to the slap means the Oscar chances for “Emancipation” have dimmed exponentially.


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Indeed, there are some in the film industry who believe that releasing “Emancipation” along with other Oscar contenders this year will only anger academy voters who were embarrassed by Mr. Smith’s actions.

Bill Kramer, the newly installed chief executive of the film academy, said on a recent call with reporters that next year’s show will not dwell on the slap, even in joke form. “We want to move forward and to have an Oscars that celebrates cinema,” he said. “That’s our focus right now.”

The presence of “Emancipation” would make that difficult. Stephen Gilula, the former co-chief executive of Fox Searchlight, the studio behind such Oscar winners as “12 Years a Slave” and “Slumdog Millionaire,” said releasing the film in the awards corridor between now and the end of the year, would put undue pressure on the movie and make the slap the center of the conversation.

“Regardless of the quality of the movie, all of the press, all the reviewers, all of the feature writers, all the awards prognosticators are going to be looking at it and talking about the slap,” Mr. Gilula said in an interview. “There’s a very high risk that the film will not get judged on its pure merit. It puts it into a very untenable context.”

To some, the film may be too good to keep quiet. Apple set up a general audience test screening of “Emancipation” in Chicago earlier this year, according to three people with knowledge of the event who spoke on condition of anonymity because they were not permitted to discuss it publicly. They said it generated an overwhelmingly positive reaction, specifically for Mr. Smith’s performance, which one of the people called “volcanic.” Audience members, during the after-screening feedback, said they were not turned off by Mr. Smith’s recent public behavior.

Article source: https://www.nytimes.com/2022/09/18/business/media/will-smith-emancipation-apple-tv.html

The Subprime Loans for College Hiding in Plain Sight

At the time, you could borrow only $3,000 per year. In 1992, that cap went away, thanks, it seems, to a successful push by a higher education lobbying association, according to a report from the Urban Institute report in 2019.

And, as college costs escalated, and schools included information about PLUS loans in a growing number of financial aid notifications that they sent to families, more of them borrowed. The government turns you down for the loan only if, at some point recently, you’ve discharged debt in bankruptcy, been subject to a tax lien, been 90 or more days late on a big bill or had similar problems.

A number of policy organizations have examined the impact of these loans as more data has become available. Let’s start by looking at the adjusted gross incomes of the parents who borrow using PLUS.

About one in three white borrowers earn more than $110,001, and about one in 10 earn less than $30,000 a year, according to Ms. Fishman, the acting director of the higher education program at New America and the author of a 2018 study on the matter.

Black families flip the script, with about one in 10 earning more than $110,001 and about one in three earning less than $30,000 a year. Unsurprisingly, given those income statistics, the federal government has, during the financial aid application process, told 42 percent of Black borrowers using Parent PLUS that they can’t afford to pay a single cent toward their children’s education, according to a Century Foundation report from this year.

But if there is not enough grant money available — from the government or the college — to subsidize their kids’ tuition in full, these parents and others like them borrow anyway. To put a finer point on it, the Department of Education says it doesn’t expect them to pay anything. And yet it tends to lend many of them nearly everything.

Article source: https://www.nytimes.com/2022/09/17/your-money/parent-plus-loans.html

Will Welch Leads GQ to ‘the New Masculinity’

“A controversial cover is by nature a good cover,” Ms. Wintour said in an email. “You want a cover to make people sit up and take notice, and get them talking — what is the point of a cover otherwise? Of course, Will knows this as well as anyone.”

Mr. Welch’s office on the 25th floor of One World Trade is windowless, befitting a top-of-the-masthead editor in these not-so-high-flying times for the magazine industry. He has a framed photograph of Malcolm X on his desk. Near the red sofa, tucked into a spot that Mr. Welch can see from his workstation, is a portrait of Ram Dass, the spiritual leader and author of “Be Here Now.”

“I like to keep my eye on him,” he said during an interview in his office on a quiet summer day.

Mr. Welch grew up in the Buckhead neighborhood of Atlanta. His mother was a clerk for the Georgia State Supreme Court, and his father was a lawyer. As a teenager, he was often on the basketball or tennis court, and he played drums in “a bunch of different rock ’n’ roll bands,” he said. After majoring in English at Columbia, he started his career as a music journalist on the staff of The Fader, writing profiles of Kanye West, the White Stripes, Big Boi and Jerry Garcia.

He joined GQ as an associate editor in 2007 and became the top editor of its spinoff, GQ Style, in 2015. Along the way, he married Heidi Smith, who describes herself on her website as a “psychosomatic therapist, herbalist, and flower essence practitioner.” They live in the Clinton Hill neighborhood of Brooklyn with their two cats.

Not long after Mr. Welch ascended to his current job, GQ’s advertising revenue shot upward, according to Condé Nast. In 2020, Mr. Welch got a shiny new title: global editorial director of GQ, which has 19 editions around the world, 11 owned and operated by Condé Nast (the others are licensed).

Article source: https://www.nytimes.com/2022/09/17/style/will-welch-leads-gq-to-the-new-masculinity.html

Herbert Kohler, Plumbing Mogul Who Created a Golf Mecca, Dies at 83

Mr. Kohler’s instincts proved correct. The hotel, the American Club, opened in 1981. Augmented by a private hunting and fishing preserve, a tennis club, restaurants, shops and a spa, it was soon a tourist magnet.

Still, something was missing.

“You have this boutique resort hotel, but you don’t have your own golf course,” Mr. Kohler, speaking in a 2015 interview, recalled customers telling him. “That’s kind of embarrassing for a C.E.O.”

Mr. Kohler had little interest in the game, but he quickly immersed himself in it.

Working with Pete Dye, who was once called the Picasso of golf-course design, he developed two nearby championship-caliber courses, Blackwolf Run and Whistling Straits.

Mr. Kohler deepened his golf investment in 2004, buying a hotel alongside the famous Old Course in St. Andrews, Scotland, and the nearby Duke’s Course.

Not all his golf projects have gone smoothly. Local environmentalists thwarted plans for a course on the Oregon coast, and the development of a new one near Kohler has been slowed by residents opposed to its reliance on public land, and by the discovery of Native American artifacts and human remains on the property.

Mr. Kohler shrugged off such obstacles. He pressed on, guided by a phrase adapted from the 19th-century British critic John Ruskin and found in an old stained-glass window at the American Club: “Life without labor is guilt. Labor without art is brutality.”

Kitty Bennett contributed research.

Article source: https://www.nytimes.com/2022/09/16/business/herbert-kohler-dead.html

Deadlines for Using Up Flexible Spending Accounts Return

In the example, a worker contributes the maximum of $2,750 to her F.S.A. for 2020. She spends just half but, under the temporary rules, carries over the $1,375 balance into 2021. (Under normal rules, the maximum amount for rollover that year would have been $550.)

In 2021, the worker again contributes the maximum of $2,750. She again spends half, and rolls over the remaining $1,375 — plus the $1,375 from the prior year — into 2022.

In 2022, she contributes the maximum — now $2,850. She has so far spent just half the contribution and has $1,425 remaining.

That adds up to a balance of $4,175 ($1,375 plus $1,375 plus $1,425), but the rules now allow a carry-over of just $570 into 2023. The worker may have to spend $3,605 by the year-end deadline, less than four months away, or risk forfeiting the funds.

Workers with an F.S.A. should confirm various deadlines with their employers, Mr. Durso said. While expenditures must be incurred by the deadline, employers may offer a “run out” period of several months after the deadline, during which workers can still submit receipts for reimbursement.

Here are some questions and answers about flexible health spending accounts:

Employees can use their F.S.A. contributions to pay for a broad range of health services and products, including over-the-counter medication, first-aid kits, blood pressure monitors, breast pumps, and menstrual pads and tampons. Covid-related supplies, like masks and hand sanitizer, also qualify. Less commonly known eligible items include deep massage guns favored by athletes, and the cost of buying and maintaining a guide dog or other service pet. Details can be found in I.R.S. Publication 502.

Article source: https://www.nytimes.com/2022/09/16/your-money/fsa-account-money-deadlines.html

For Gen Z, TikTok Is the New Search Engine

“In our studies, something like almost 40 percent of young people, when they’re looking for a place for lunch, they don’t go to Google Maps or Search. They go to TikTok or Instagram,” Prabhakar Raghavan, a Google senior vice president, said at a technology conference in July.

Google has incorporated images and videos into its search engine in recent years. Since 2019, some of its search results have featured TikTok videos. In 2020, Google released YouTube Shorts, which shares vertical videos less than a minute long, and started including its content in search results.

TikTok, which is owned by the Chinese internet company ByteDance, declined to comment on its search function and products that may be in testing. It said it was “always thinking about new ways to add value to the community and enrich the TikTok experience.”

Doing a search on TikTok is often more interactive than typing in a query on Google. Instead of just slogging through walls of text, Gen Z-ers crowdsource recommendations from TikTok videos to pinpoint what they are looking for, watching video after video to cull the content. Then they verify the veracity of a suggestion based on comments posted in response to the videos.

This mode of searching is rooted in how young people are using TikTok not only to look for products and businesses, but also to ask questions about how to do things and find explanations for what things mean. With videos often less than 60 seconds long, TikTok returns what feels like more relevant answers, many said.

Alexandria Kinsey, 24, a communications and social media coordinator in Arlington, Va., uses TikTok for many search queries: recipes to cook, films to watch and nearby happy hours to try. She also turns to it for less typical questions, like looking up interviews with the actor Andrew Garfield and weird conspiracy theories.

Article source: https://www.nytimes.com/2022/09/16/technology/gen-z-tiktok-search-engine.html

TikTok’s CEO Navigates the Limits of His Power

Some who have worked with Mr. Chew said they were unclear about how well he understood the platform, which has continued growing. Some employees were brought in to teach Mr. Chew, who has 7,600 followers on his account, the latest TikTok trends to boost his presence, two people familiar with the plan said.

Mr. Chew has mostly been active around TikTok’s finances and operations, the people familiar with his activities said.

Last October, he shelved a multimillion-dollar marketing campaign for a TikTok NFT project involving the musical artists Lil Nas X and Bella Poarch. He reprimanded TikTok’s global head of marketing on a video call with Beijing-based leaders for ByteDance after some celebrities dropped out of the project, four people familiar with the meeting said. It showed that Mr. Chew answered to higher powers, they said.

Mr. Chew also ended a half-developed TikTok store off Melrose Avenue in Los Angeles, three people familiar with the initiative said. TikTok briefly explored obtaining the naming rights of the Los Angeles stadium formerly known as the Staples Center, they said.

He has also overseen layoffs of American managers, two people familiar with the decisions said, while building up teams related to trust and safety. In its U.S. marketing, the app has shifted its emphasis from a brand that starts trends and conversations toward its utility as a place where people can go to learn.

In May, Mr. Chew flew to Davos, Switzerland, for the World Economic Forum, speaking with European regulators and ministers from Saudi Arabia to discuss digital strategy.

Article source: https://www.nytimes.com/2022/09/16/technology/tiktok-ceo-shou-zi-chew.html

Railroad Workers Point to Punishing Schedules as Cause of Strike

The side effect, however, was to gradually eliminate any cushion in staffing levels.

Unlike many workers, the conductors and engineers who operate trains don’t get weekends or other consistent days off.

Instead, said Mr. Pierce, the president of the locomotive engineers union, workers go to the bottom of a list of available crews when they return home from a trip that can last days. The fewer the workers, the shorter the list, and the less time it takes for them to be summoned into action again.

“It can go on indefinitely, till they interrupt the cycle by taking paid time off, which the companies routinely reject,” Mr. Pierce said.

Major U.S. freight rail carriers began to accelerate the staffing cuts in recent years as they switched to a system known as precision scheduled railroading, or P.S.R., which focuses on scaling back excess equipment and employees and streamlining the shipping process.

The industry has said P.S.R. enables carriers to run more efficiently and provide more reliable service, while also improving profits. Freight rail customers and employees say it has resulted in deteriorating working conditions and customer service and little resilience in dealing with unforeseen circumstances, like weather emergencies. The Surface Transportation Board, a federal regulatory agency, estimates that the carriers have 30 percent fewer employees today than six years ago.

Reducing labor to match this operating model may have been sound in principle, said Mr. Paterson, the industry analyst. But he said the carriers appeared to have cut back too much to allow them to handle potential disruptions, of which the pandemic was an epic example.

Article source: https://www.nytimes.com/2022/09/15/business/economy/railroad-workers-strike.html

Student Loan Forgiveness Is Complicated, Because This Is America

Patching the student loan system is just the latest chapter in our long, sorry history of making things hard. In doing so, we confuse the very people we’re trying to help: the young, the old, the sick, the people without much time because they’re working hard to make ends meet.

In some ways, this is a feature of federalism. The U.S. government helps pay for or subsidize unemployment insurance, Medicaid and 529 college savings plans. States, however, have rights. And so the size of your unemployment check depends on where you live, your state can refuse federal Medicaid funds that could help you have more health care and there are dozens of 529 college savings plans with different tax breaks — or none at all.

We also like markets and plenty of choice. Politicians, policy wonks and product managers spend decades creating or navigating laws and regulations, and marketplaces emerge accordingly.

But then we get a result like the one we have in retirement savings. Have yourself a 401(k) or a 403(b) or a 457 depending on where you work, or all three over your next three jobs. You can invest money in a T.D.F. or possibly a REIT but probably not an E.T.F., and don’t forget to check for the E.S.G. options. Or maybe you’d like one of the many flavors of I.R.A.s, like an S.E.P. or (you really can’t make this stuff up) a S.I.M.P.L.E. one.

Then, it’s time to sign up for Medicare. Tempted by an “Advantage Plan,” where a company promises to help you comprehend and utilize selections from your menu of government benefits? You may be able to choose among H.M.O., P.P.O., P.F.F.S., S.N.P., H.M.O.-P.O.S. and M.S.A. plans. The Centers for Medicare Medicaid Services website has an acronym glossary with 4,420 entries, because personal finance is its own language. You learn as you go, or not at all.

Article source: https://www.nytimes.com/2022/09/03/your-money/student-loans-personal-finance.html

New Inflation Developments Are Rattling Markets and Economists. Here’s Why.

Consumer Price Index data from August released on Tuesday illustrated that point. Gas prices dropped sharply last month, which many economists expected would pull overall inflation down. They also thought that recent improvements in the supply chain would moderate price increases for goods. Used car costs, a major contributor to inflation last year, are now declining.

Yet, in spite of those positive developments, quickly rising costs across a wide array of products and services helped to push prices higher on a monthly basis. Rent, furniture, meals at restaurants and visits to the dentist are all growing more expensive. Inflation climbed 8.3 percent on an annual basis, and picked up by 0.1 percent from the prior month.

The data underscored that, even without extraordinary disruptions, so many products and services are now increasing in price that costs might continue ratcheting up. Core inflation, which strips out food and fuel costs to give a sense of underlying price trends, reaccelerated to 6.3 percent in August after easing to 5.9 percent in July.

“Inflation currently has a very large underlying component that is grounded in a red-hot labor market,” said Jason Furman, an economist at Harvard University. “And then, in any given month, you may get more inflation because of bad luck, like gas going up, or less because of good luck, like gas going down.”

He estimated that core inflation would continue to climb at around 4.5 percent, and rising, even if pandemic- and war-related disruptions stopped pushing prices higher.

Article source: https://www.nytimes.com/2022/09/15/business/economy/inflation-markets-economy.html