Corporate LawYou, your brother, your sister, and your best friAlleneMcclendon878
Corporate Law
You, your brother, your sister, and your best friend’s Aunt were visiting and came up with the idea that together you could go into business offering mortgages to the public. Your best friends Aunt, Auntie Yoda is already working in the business and has lots of contacts with people and banks that have money to lend. She has wanted to start a business for some time because she knows how to be successful in this business and there is definitely money to be made. Your sister has experience with the local business community, your brother just completed his MBA in finance from Harvard, and you have been working in a bank while attending CC and you are about to graduate with an Associate Degree in Business! You are all convinced this is a workable business idea. You have been discussing how you are going to set up the business.
How would you analyze the organizational options available to you? What are the pro's and con's as they apply to these facts? What form of business organization would you prefer and why? Support your conclusions and discussion with legal analysis taking into account the legal attributes of each form and the operational aspects of each form.
Beware the Big Five
Tamsin Shaw
APRIL 5, 2018 ISSUE
The Darkening Web: The War for Cyberspace
by Alexander Klimburg
Penguin, 420 pp., $30.00
Jaap Arriens/NurPhoto/Getty Images
Facebook founder Mark Zuckerberg pictured on an iPhone, August 2017
The big Silicon Valley technology companies have long been viewed by much of
the American public as astonishingly successful capitalist enterprises operated by
maverick geniuses. The largest among them—Microsoft, Apple, Facebook,
Amazon, and Google (the so-called Big Five)—were founded by youthful and
charismatic male visionaries with signature casual wardrobes: the open-necked
blue shirt, the black polo-neck, the marled gray T-shirt and hoodie. These founders
have won immense public trust in their emergent technologies, from home
computing to social media to the new frontier, artificial intelligence. Their
companies have seemed to grow organically within the flourishing ecology of the
open Internet.
https://www.nybooks.com/contributors/tamsin-shaw/
https://www.nybooks.com/issues/2018/04/05/
https://www.amazon.com/gp/product/159420666X?ie=UTF8&tag=thneyoreofbo-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=159420666X
https://cdn.nybooks.com/wp-content/uploads/2018/03/shaw_1-040518.jpg
Within the US government, the same Silicon Valley companies have been
considered an essential national security asset. Government investment and policy
over the last few decades have reflected an unequivocal confidence in them. In
return, they have at times cooperated with intelligence agencies and the military.
During these years there has been a constant, quiet hum of public debate about the
need to maintain a balance between security and privacy in this alliance, but even
after the Snowden le ...
Can cloud computing survive the NSA disclosuresJason Fernandes
Over the past several months, the disclosures by former National Security Agency (NSA) contractor Edward Snowden have hit internet companies hard. Lately, there has been a steady migration to the cloud services. People were increasingly comfortable with storing important documents online. The NSA disclosures have stopped this trend in its tracks, and could possibly lead to its reversal.
A summarized version of the 60 page Rule broken down by Kirk J. Nahra, a partner with Wiley Rein & Fielding LLP in Washington, D.C. He specializes in privacy and information security litigation and counseling for companies facing compliance obligations in these areas. He is the Chair of the firm’s Privacy Practice. He serves on the Board of Directors of the International Association of Privacy Professionals, and edits IAPP’s monthly newsletter, Privacy Officers Advisor. He is a Certified Information Privacy Professional, and is the Chair of the ABA Health Law Section’s Interest Group on eHealth, Privacy & Security.
The Clean Network turned the tide on Huawei and the CCP’s 5G master plan and in the process, proved that China Inc. is beatable and most meaningfully, exposed its biggest weakness— lack of trust. Krach’s team has actually executed that strategy by getting 60 countries, representing 66% of the world’s GDP, on the Clean Network and 200 Telcos on top of that. According to Bloomberg, Silicon Valley veteran Keith Krach harnessed the power of Metcalfe’s Law to build a network of nations to counter China—a notable change in tone after years in which the Trump administration pursued a go-it-alone, “America First” strategy. And says the Clean Network’s effort to create a united economic front is to China what George Kennan’s “long telegram” of 1946 was to the Soviet Union. The Wall Street Journal wrote that the Clean Network is an undisputed success and will be perhaps the most enduring foreign-policy legacy of the last four years.
Clean Network had three stated objectives: "The first objective was to prove that China Inc. is beatable by defeating the CCP’s master plan to dominate 5G which would also open the playing field and enable U.S. entrants. The second objective was to deliver an enduring model for competing with China Inc. as measured by meeting ten essential factors. The final objective was to provide a beachhead and a head-start on building a strategic platform that could be leveraged in other sectors of economic competitions, such as cloud computing, mobile applications, underwater cable, AI, IoT, clean energy, digital currency, autonomous vehicles, advanced manufacturing and biomedical engineering, electronic payments, since they all pose the same challenges.”The Clean Network serves as the crucial first step in constructing a trusted network of networks composed of like-minded countries, companies and civil society that operate by a set of democratic principles for all areas of collaboration and establishes an equitable and unifying alternative to the One Belt One Road. His Global Economic Security Strategy provides a winning bipartisan formula in addressing CCP’s long-term threat to data privacy, security, human rights, investment capital and democracy by leveraging the three big areas of U.S. competitive advantage: the strength of allies and friends, the innovation of the private sector, and the moral high ground of democratic principles.
Medical study needs reform : Kapil Khandelwal, www.kapilkhandelwal.comKapil Khandelwal (KK)
My fortnightly column A Dose of IT that discusses about Medical education reform in India
Kapil Khandelwal
QuoteUnquote with KK
www.kapilkhandelwal.com
Corporate LawYou, your brother, your sister, and your best friAlleneMcclendon878
Corporate Law
You, your brother, your sister, and your best friend’s Aunt were visiting and came up with the idea that together you could go into business offering mortgages to the public. Your best friends Aunt, Auntie Yoda is already working in the business and has lots of contacts with people and banks that have money to lend. She has wanted to start a business for some time because she knows how to be successful in this business and there is definitely money to be made. Your sister has experience with the local business community, your brother just completed his MBA in finance from Harvard, and you have been working in a bank while attending CC and you are about to graduate with an Associate Degree in Business! You are all convinced this is a workable business idea. You have been discussing how you are going to set up the business.
How would you analyze the organizational options available to you? What are the pro's and con's as they apply to these facts? What form of business organization would you prefer and why? Support your conclusions and discussion with legal analysis taking into account the legal attributes of each form and the operational aspects of each form.
Beware the Big Five
Tamsin Shaw
APRIL 5, 2018 ISSUE
The Darkening Web: The War for Cyberspace
by Alexander Klimburg
Penguin, 420 pp., $30.00
Jaap Arriens/NurPhoto/Getty Images
Facebook founder Mark Zuckerberg pictured on an iPhone, August 2017
The big Silicon Valley technology companies have long been viewed by much of
the American public as astonishingly successful capitalist enterprises operated by
maverick geniuses. The largest among them—Microsoft, Apple, Facebook,
Amazon, and Google (the so-called Big Five)—were founded by youthful and
charismatic male visionaries with signature casual wardrobes: the open-necked
blue shirt, the black polo-neck, the marled gray T-shirt and hoodie. These founders
have won immense public trust in their emergent technologies, from home
computing to social media to the new frontier, artificial intelligence. Their
companies have seemed to grow organically within the flourishing ecology of the
open Internet.
https://www.nybooks.com/contributors/tamsin-shaw/
https://www.nybooks.com/issues/2018/04/05/
https://www.amazon.com/gp/product/159420666X?ie=UTF8&tag=thneyoreofbo-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=159420666X
https://cdn.nybooks.com/wp-content/uploads/2018/03/shaw_1-040518.jpg
Within the US government, the same Silicon Valley companies have been
considered an essential national security asset. Government investment and policy
over the last few decades have reflected an unequivocal confidence in them. In
return, they have at times cooperated with intelligence agencies and the military.
During these years there has been a constant, quiet hum of public debate about the
need to maintain a balance between security and privacy in this alliance, but even
after the Snowden le ...
Can cloud computing survive the NSA disclosuresJason Fernandes
Over the past several months, the disclosures by former National Security Agency (NSA) contractor Edward Snowden have hit internet companies hard. Lately, there has been a steady migration to the cloud services. People were increasingly comfortable with storing important documents online. The NSA disclosures have stopped this trend in its tracks, and could possibly lead to its reversal.
A summarized version of the 60 page Rule broken down by Kirk J. Nahra, a partner with Wiley Rein & Fielding LLP in Washington, D.C. He specializes in privacy and information security litigation and counseling for companies facing compliance obligations in these areas. He is the Chair of the firm’s Privacy Practice. He serves on the Board of Directors of the International Association of Privacy Professionals, and edits IAPP’s monthly newsletter, Privacy Officers Advisor. He is a Certified Information Privacy Professional, and is the Chair of the ABA Health Law Section’s Interest Group on eHealth, Privacy & Security.
The Clean Network turned the tide on Huawei and the CCP’s 5G master plan and in the process, proved that China Inc. is beatable and most meaningfully, exposed its biggest weakness— lack of trust. Krach’s team has actually executed that strategy by getting 60 countries, representing 66% of the world’s GDP, on the Clean Network and 200 Telcos on top of that. According to Bloomberg, Silicon Valley veteran Keith Krach harnessed the power of Metcalfe’s Law to build a network of nations to counter China—a notable change in tone after years in which the Trump administration pursued a go-it-alone, “America First” strategy. And says the Clean Network’s effort to create a united economic front is to China what George Kennan’s “long telegram” of 1946 was to the Soviet Union. The Wall Street Journal wrote that the Clean Network is an undisputed success and will be perhaps the most enduring foreign-policy legacy of the last four years.
Clean Network had three stated objectives: "The first objective was to prove that China Inc. is beatable by defeating the CCP’s master plan to dominate 5G which would also open the playing field and enable U.S. entrants. The second objective was to deliver an enduring model for competing with China Inc. as measured by meeting ten essential factors. The final objective was to provide a beachhead and a head-start on building a strategic platform that could be leveraged in other sectors of economic competitions, such as cloud computing, mobile applications, underwater cable, AI, IoT, clean energy, digital currency, autonomous vehicles, advanced manufacturing and biomedical engineering, electronic payments, since they all pose the same challenges.”The Clean Network serves as the crucial first step in constructing a trusted network of networks composed of like-minded countries, companies and civil society that operate by a set of democratic principles for all areas of collaboration and establishes an equitable and unifying alternative to the One Belt One Road. His Global Economic Security Strategy provides a winning bipartisan formula in addressing CCP’s long-term threat to data privacy, security, human rights, investment capital and democracy by leveraging the three big areas of U.S. competitive advantage: the strength of allies and friends, the innovation of the private sector, and the moral high ground of democratic principles.
Medical study needs reform : Kapil Khandelwal, www.kapilkhandelwal.comKapil Khandelwal (KK)
My fortnightly column A Dose of IT that discusses about Medical education reform in India
Kapil Khandelwal
QuoteUnquote with KK
www.kapilkhandelwal.com
www.pwc.comgsiss2015Managing cyber risks in an intercon.docxericbrooks84875
www.pwc.com/gsiss2015
Managing cyber risks in an
interconnected world
Key findings from The Global State of
Information Security® Survey 2015
30 September 2014
03
Employees are the most-
cited culprits of incidents
p13
Nation-states, hackers, and
organized crime groups are
the cybersecurity villains that
everybody loves to hate
Figure 6: Insiders vs. outsiders
p15
High growth in high-profile
crimes
p18
Domestic intelligence: A new
source of concern
01
Cyber risks: A severe and
present danger
p1
Cybersecurity is now a persistent
business risk
p3
And the risks go beyond devices
p5
Cybersecurity services market
is expanding
Figure 1: Security incidents outpace
GDP and mobile phone growth
Table of contents
02
Incidents and financial
impacts continue to soar
p7
Continued year-over-year
rise is no surprise
Figure 2: Security incidents grow
66% CAGR
Figure 3: Larger companies detect
more incidents
Figure 4: Information security
budget by company size (revenue)
p10
Financial losses increase apace
Figure 5: Incidents are more costly
to large organizations
07
Evolving from security to
cyber risk management
p31
As incidents continue to proliferate
across the globe, it’s becoming
clear that cyber risks will never
be completely eliminated
p35
Methodology
p36
Endnotes & sources
p37
Contacts by region
04
As incidents rise, security
spending falls
p19
Organizations are undoubtedly
worried about the rising tide
of cybercrime
Figure 7: Overall, average security
budgets decrease slightly, reversing
a three-year trend.
Figure 8: Top spending priorities
over the next 12 months
05
Declines in fundamental
security practices
p25
Security practices must keep pace
with constantly evolving threats
and security requirements
Figure 9: Failing to keep up with
security threats
Figure 10: At most organizations, the
Board of Directors does not participate
in key information security activities
06
Gains in select security
initiatives
p29
While we found declines in
some security practices, we also
saw gains in important areas
Cybersecurity is
now a persistent
business risk
It is no longer an issue that
concerns only information
technology and security
professionals; the impact
has extended to the C-suite
and boardroom.
Awareness and concern about
security incidents and threats
also has become top of mind among
consumers as well. In short, few
risk issues are as all-encompassing
as cybersecurity.
Media reports of security incidents
have become as commonplace as the
weather forecast, and over the past
12 months virtually every industry
sector across the globe has been hit
by some type of cyber threat.
Following are but a few: As incidents
proliferate, governments are
becoming more proactive in helping
organizations fight cyber crime.
The US Federal Bureau of
Investigation (FBI), for example,
disclosed that it notified 3,000
companies—including banks,
retaile.
Since President Biden issued an executive order regarding the future of US money and payment systems half a year ago government agencies have been considering cryptocurrencies and how to regulate them. The end result will be substantial regulation of the world of cryptocurrencies. That is the Biden warning to Bitcoin and the rest of the cryptocurrency world.
https://youtu.be/jGjgLQ5Oy0M
In this 21st century, data holders possess more power than governments. The ability to influence the opinion of people lies with them. Revisiting the Cambridge Analytica data scandal just reassures that nothing is bigger than Big data, not even democracy.
10 THE INTERNATIONAL ECONOMY WINTER 2014China UnderAt.docxaulasnilda
10 THE INTERNATIONAL ECONOMY WINTER 2014
China Under
Attack
On January 31, 2014, one of China’smany trust companies, the China CreditTrust, nearly went bankrupt and had tobe bailed out by unknown sources.Some say it was China’s LehmanBrothers moment. In late December2013, Foxconn, the Chinese assemblyfirm with 1.2 million Chinese workers,
announced its intention to build a production facility in the
United States. On December 5, 2013, China’s new aircraft car-
rier, the Liaoning, was sailing in the South China Sea when a
vessel from its carrier group came less than 1,400 feet from the
USS Cowpens, a Ticonderoga-class missile cruiser. The near-
collision was the result of an ever more apparent game of
“chicken” between the United States and China. The three seem-
ingly unrelated events may be individually important, but they
are symptomatic of changing dynamics affecting China’s inter-
action with the United States and the West more generally.
China’s competitiveness has been deeply eroded in recent
years. The old revenue and cash inflows China had enjoyed dis-
appeared when the financial crisis damaged consumption in the
industrialized world. Since then, Chinese workers have been
B Y K . P H I L I P P A M A L M G R E N
An economy amazingly
vulnerable to bad news.
Philippa Malmgren is the founder of DRPM Group. These ideas
are further explored in her upcoming book, Signals. She
previously served on the White House National Economic
Council in 2001 and 2002.
THE MAGAZINE OF INTERNATIONAL ECONOMIC POLICY
220 I Street, N.E., Suite 200
Washington, D.C. 20002
Phone: 202-861-0791 • Fax: 202-861-0790
www.international-economy.com
[email protected]
WINTER 2014 THE INTERNATIONAL ECONOMY 11
MALMGREN
hurt by both the deterioration of a powerful export engine
and the rapidly rising cost of living.
Chinese official data shows inflation is not too bad.
But the Chinese government wants to maintain the façade
that markets are functioning favorably and the GDP defla-
tor is small, ensuring high “real” growth rates. The actual
inflation rate faced by locals is far higher than the data
shows. Of course, some argue a gap exists in the United
States as well. The reality though, is that the prices of
energy and food have been high and rising rapidly in
recent years. Food and fuel account for 40 percent to 70
percent of a Chinese worker’s expenses. Consider the
price of beef, which, like most proteins, has kept hitting
all-time record highs in the last few years. Failure to pro-
vide the Chinese public with protein at a moderate price is
a recipe for serious social unrest. Oil may not seem expen-
sive in the West, but anything over $100 per barrel trans-
lates to fuel and other energy expenses high enough to
warrant moving production to the United States where
energy is increasingly cheap, leading to job losses in
China.
These pressures have generated demands for higher
pay. Wage demands for skilled Chinese workers are run-
ning at a 70 pe ...
MC Heights-Best Construction Company in jhanglaraibfatim009
MC Heights stands as the epitome of excellence in construction within Jhang. With a commitment to unparalleled quality and innovative design, MC Heights redefines urban living in the heart of Jhang. Offering luxurious residential spaces, cutting-edge commercial complexes, and vibrant community areas, MC Heights caters to the diverse needs of modern lifestyles. Our dedication to superior craftsmanship and customer satisfaction ensures that every aspect of MC Heights exceeds expectations, making it the premier choice for those seeking unparalleled sophistication and comfort in Jhang.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
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www.pwc.comgsiss2015Managing cyber risks in an intercon.docxericbrooks84875
www.pwc.com/gsiss2015
Managing cyber risks in an
interconnected world
Key findings from The Global State of
Information Security® Survey 2015
30 September 2014
03
Employees are the most-
cited culprits of incidents
p13
Nation-states, hackers, and
organized crime groups are
the cybersecurity villains that
everybody loves to hate
Figure 6: Insiders vs. outsiders
p15
High growth in high-profile
crimes
p18
Domestic intelligence: A new
source of concern
01
Cyber risks: A severe and
present danger
p1
Cybersecurity is now a persistent
business risk
p3
And the risks go beyond devices
p5
Cybersecurity services market
is expanding
Figure 1: Security incidents outpace
GDP and mobile phone growth
Table of contents
02
Incidents and financial
impacts continue to soar
p7
Continued year-over-year
rise is no surprise
Figure 2: Security incidents grow
66% CAGR
Figure 3: Larger companies detect
more incidents
Figure 4: Information security
budget by company size (revenue)
p10
Financial losses increase apace
Figure 5: Incidents are more costly
to large organizations
07
Evolving from security to
cyber risk management
p31
As incidents continue to proliferate
across the globe, it’s becoming
clear that cyber risks will never
be completely eliminated
p35
Methodology
p36
Endnotes & sources
p37
Contacts by region
04
As incidents rise, security
spending falls
p19
Organizations are undoubtedly
worried about the rising tide
of cybercrime
Figure 7: Overall, average security
budgets decrease slightly, reversing
a three-year trend.
Figure 8: Top spending priorities
over the next 12 months
05
Declines in fundamental
security practices
p25
Security practices must keep pace
with constantly evolving threats
and security requirements
Figure 9: Failing to keep up with
security threats
Figure 10: At most organizations, the
Board of Directors does not participate
in key information security activities
06
Gains in select security
initiatives
p29
While we found declines in
some security practices, we also
saw gains in important areas
Cybersecurity is
now a persistent
business risk
It is no longer an issue that
concerns only information
technology and security
professionals; the impact
has extended to the C-suite
and boardroom.
Awareness and concern about
security incidents and threats
also has become top of mind among
consumers as well. In short, few
risk issues are as all-encompassing
as cybersecurity.
Media reports of security incidents
have become as commonplace as the
weather forecast, and over the past
12 months virtually every industry
sector across the globe has been hit
by some type of cyber threat.
Following are but a few: As incidents
proliferate, governments are
becoming more proactive in helping
organizations fight cyber crime.
The US Federal Bureau of
Investigation (FBI), for example,
disclosed that it notified 3,000
companies—including banks,
retaile.
Since President Biden issued an executive order regarding the future of US money and payment systems half a year ago government agencies have been considering cryptocurrencies and how to regulate them. The end result will be substantial regulation of the world of cryptocurrencies. That is the Biden warning to Bitcoin and the rest of the cryptocurrency world.
https://youtu.be/jGjgLQ5Oy0M
In this 21st century, data holders possess more power than governments. The ability to influence the opinion of people lies with them. Revisiting the Cambridge Analytica data scandal just reassures that nothing is bigger than Big data, not even democracy.
10 THE INTERNATIONAL ECONOMY WINTER 2014China UnderAt.docxaulasnilda
10 THE INTERNATIONAL ECONOMY WINTER 2014
China Under
Attack
On January 31, 2014, one of China’smany trust companies, the China CreditTrust, nearly went bankrupt and had tobe bailed out by unknown sources.Some say it was China’s LehmanBrothers moment. In late December2013, Foxconn, the Chinese assemblyfirm with 1.2 million Chinese workers,
announced its intention to build a production facility in the
United States. On December 5, 2013, China’s new aircraft car-
rier, the Liaoning, was sailing in the South China Sea when a
vessel from its carrier group came less than 1,400 feet from the
USS Cowpens, a Ticonderoga-class missile cruiser. The near-
collision was the result of an ever more apparent game of
“chicken” between the United States and China. The three seem-
ingly unrelated events may be individually important, but they
are symptomatic of changing dynamics affecting China’s inter-
action with the United States and the West more generally.
China’s competitiveness has been deeply eroded in recent
years. The old revenue and cash inflows China had enjoyed dis-
appeared when the financial crisis damaged consumption in the
industrialized world. Since then, Chinese workers have been
B Y K . P H I L I P P A M A L M G R E N
An economy amazingly
vulnerable to bad news.
Philippa Malmgren is the founder of DRPM Group. These ideas
are further explored in her upcoming book, Signals. She
previously served on the White House National Economic
Council in 2001 and 2002.
THE MAGAZINE OF INTERNATIONAL ECONOMIC POLICY
220 I Street, N.E., Suite 200
Washington, D.C. 20002
Phone: 202-861-0791 • Fax: 202-861-0790
www.international-economy.com
[email protected]
WINTER 2014 THE INTERNATIONAL ECONOMY 11
MALMGREN
hurt by both the deterioration of a powerful export engine
and the rapidly rising cost of living.
Chinese official data shows inflation is not too bad.
But the Chinese government wants to maintain the façade
that markets are functioning favorably and the GDP defla-
tor is small, ensuring high “real” growth rates. The actual
inflation rate faced by locals is far higher than the data
shows. Of course, some argue a gap exists in the United
States as well. The reality though, is that the prices of
energy and food have been high and rising rapidly in
recent years. Food and fuel account for 40 percent to 70
percent of a Chinese worker’s expenses. Consider the
price of beef, which, like most proteins, has kept hitting
all-time record highs in the last few years. Failure to pro-
vide the Chinese public with protein at a moderate price is
a recipe for serious social unrest. Oil may not seem expen-
sive in the West, but anything over $100 per barrel trans-
lates to fuel and other energy expenses high enough to
warrant moving production to the United States where
energy is increasingly cheap, leading to job losses in
China.
These pressures have generated demands for higher
pay. Wage demands for skilled Chinese workers are run-
ning at a 70 pe ...
MC Heights-Best Construction Company in jhanglaraibfatim009
MC Heights stands as the epitome of excellence in construction within Jhang. With a commitment to unparalleled quality and innovative design, MC Heights redefines urban living in the heart of Jhang. Offering luxurious residential spaces, cutting-edge commercial complexes, and vibrant community areas, MC Heights caters to the diverse needs of modern lifestyles. Our dedication to superior craftsmanship and customer satisfaction ensures that every aspect of MC Heights exceeds expectations, making it the premier choice for those seeking unparalleled sophistication and comfort in Jhang.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
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Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Oeiras Tech City, Developed by RE Capital and REIG, Will Become Lisbon's Futu...Newman George Leech
Oeiras Tech City, a historic development in the Oeiras municipality of Lisbon, is acquired by RE Capital and REIG. It is located on a 93,000-square-meter plot of land and combines co-living, business, and residential areas. It highlights ESG principles and is close to Tagus Park, which improves the urban landscape of Lisbon.
Oeiras Tech City, Developed by RE Capital and REIG, Will Become Lisbon's Futu...
The Wall Street Journal Weekend_Febrero 2024
1. * * * * * * * SATURDAY/SUNDAY, FEBRUARY 24 - 25, 2024 ~ VOL. CCLXXXIII NO. 45 WSJ.com HHHH $6.00
Chip maker Nvidia’s mar-
ket capitalization topped $2
trillion in trading before fall-
ing below the mark. The
company powering the AI
revolution hit that milestone
eight months after topping
the $1 trillion threshold. A1
The three major U.S. eq-
uity indexes added at least
1.3% for the week, marking
six weekly gains in 2024 so
far. The S&P 500 and Dow
hit records on Friday. B11
Meta safety staff warned
last year that new paid sub-
scription tools on Facebook
and Instagram were being
misused by adults seeking
to profit from exploiting
their own children. A1
Bankrupt cryptocurrency
exchange FTX received court
approval to sell its stake in
Anthropic, an AI startup in
which Amazon and Google
late last year agreed to invest
billions of dollars. B9
A Houston man has pleaded
guilty to insider trading after
overhearing his wife, a former
BP executive, discuss a planned
acquisition while she was
working from home. B9
BASF said that it would
cut jobs as it plans to launch
another cost-cutting pro-
gram targeting its Ludwigs-
hafen site, and confirmed its
year-end results, which were
hampered by impairments
and lower margins. B9
World-Wide
What’s
News
Business&Finance
WSJ
THEWALLSTREETJOURNALWEEKEND
It took Nvidia 24 years as a
public company for its valua-
tion to reach the rarefied air
of $1 trillion. Thanks to the
chip maker’s role in powering
the AI revolution, a second
trillion took eight months.
Nvidia’s market capitaliza-
tion topped $2 trillion in Fri-
day trading before falling be-
low the mark again. Still, only
Microsoft and Apple have
higher valuations.
The journey to become one
of the most-valuable U.S. com-
panies started at a Denny’s in
1993 and has been fast-
tracked in recent years by
Nvidia’s dominance of GPUs,
or graphics processing units.
These chips, worth tens of
thousands of dollars each,
have become a scarce, trea-
sured commodity like Silicon
Valley has seldom seen, and
Nvidia is estimated to have
more than 80% of the market.
Voracious demand has out-
paced production and spurred
competitors to develop rival
chips. The ability to secure
GPUs governs how quickly
companies can develop new
artificial-intelligence systems.
Companies tout their access to
GPUs to recruit AI workers,
and the chips have been used
as collateral to back billions of
dollars in borrowing.
The chips are so valuable
that they are delivered to the
networking company Cisco
Systems by armored car, said
Fletcher Previn, Cisco’s chief
information officer, at The
Wall Street Journal’s CIO Net-
PleaseturntopageA4
BY ASA FITCH
Red-Hot
Nvidia’s
Valuation
Touches
$2 Trillion
AI frenzy drives chip
stock briefly past
mark; only Microsoft,
Apple valued higher
Players complained that their
pants weren’t sized properly,
let alone tailored to their pref-
erences. Then, on team photo
days, another issue was re-
vealed: Those pants, designed
to prioritize breathability,
were essentially sheer in the
harsh lights of a camera’s
flashbulb.
Fans who were eager to see
Shohei Ohtani in his new Los
Angeles Dodgers uniform were
suddenly left wondering if
they were seeing a little too
much of Shohei Ohtani.
The series of issues has led
to uncomfortable questions
for MLB, Nike and Fanatics
PleaseturntopageA14
Your Inflight
Show Will Be
An Eclipse
i i i
Fans book flights
just to see April’s
event from sky
BY ALISON SIDER
Millions plan to travel for
the coming total solar eclipse,
which will sweep over a
stretch from Texas to Maine
on April 8. Bucket-listers have
plunked down big money for
basic hotels or RV spaces just
to be in the perfect spot for
those few otherworldly mo-
PleaseturntopageA10
tent, often featuring young
girls in bikinis and leotards,
was sold to an audience that
was overwhelmingly male and
often overt about sexual inter-
est in the children in com-
ments on posts or when they
communicated with the par-
ents, according to people fa-
miliar with the investigations,
which determined that the
payments feature was
launched without basic child-
safety protections.
While the images of the
girls didn’t involve nudity or
other illegal content, Meta’s
staffers found evidence that
PleaseturntopageA5
Meta Platforms safety staff
warned last year that new
paid subscription tools on
Facebook and Instagram were
being misused by adults seek-
ing to profit from exploiting
their own children.
Two teams inside Meta
raised alarms in internal re-
ports, after finding that hun-
dreds of what the company
calls “parent-managed minor
accounts” were using the sub-
scription feature to sell exclu-
sive content not available to
nonpaying followers. The con-
BY JEFF HORWITZ
AND KATHERINE BLUNT
Will the U.S.
abandon Ukraine? C1
Baseball’s Uniforms
Draw Leers and Jeers
Major League Baseball had
grand ambitions that its 2024
season would look better than
ever. The league and its part-
ners had spent years fine-tun-
ing new, state-of-the-art uni-
forms that were supposed to
blend cutting-edge tech with
fashion.
Then players and fans saw
what they actually looked
like.
The lettering on the name-
plates was disproportionately
small. The lack of actual em-
broidery stitching made them
resemble cheap knockoffs.
BY LINDSEY ADLER
AND ANDREW BEATON
MIDLAND, Texas—Drilling for oil made
Tim Dunn, a self-described activist Christian,
into a billionaire. His second act has been
pumping money to Texas Republicans intent
on pushing their party to the right.
His third act, he hopes, will be pulling off
something similar on a national level—pref-
erably during a second Trump administra-
tion.
Brooke Rollins, a former Trump domestic
policy adviser, pitched Dunn in 2021 on a
By Collin Eaton, Elizabeth Findell
and Benoît Morenne
Meta Failed to Heed
Child-Safety Warnings
2022 ’23 ’24
–100
–50
0
50
100
150
200%
Share-price and index
performance since
the end of 2021
Source: FactSet
Nvidia
PHLX
Semiconductor
Index
S&P 500
Heard on the Street: Nvidia
is getting cheaper........... B12
accountable for Mr. Navalny’s
death,” White House National
Security Council spokesman
John Kirby said Friday. “To-
day was just the start.”
Yet this latest move also
demonstrates the limited op-
tions the Biden administration
has to respond to Moscow’s
escalating aggression, which
has also included the recent
PleaseturntopageA7
abroad and repression at
home,” he said.
The Biden administration
argues that over time the
sanctions will strangle the
Russian economy and defense
industry, and hamper its abil-
ity to wage war on Ukraine,
while naming and isolating of-
ficials complicit in human-
rights abuses. A number of of-
ficials linked to the prison
where Navalny died are also
targeted, U.S. officials said.
“You can expect more from
the administration with re-
spect to holding the Kremlin
targeting major financial insti-
tutions, government officials,
business executives, shipping
companies and manufacturers.
“If Russia is going to turn
its industries into wartime
producers, then all Russia’s
production is now fair game,”
said Wally Adeyemo, deputy
secretary of the Treasury.
President Biden, who met
with Navalny’s family on
Thursday, also addressed the
latest sanctions. “We in the
United States are going to
continue to ensure that Putin
pays a price for his aggression
The Biden administration,
having promised “devastating”
consequences in 2021 if top
Kremlin critic Alexei Navalny
should die in Russian custody,
released sanctions on Friday
that U.S. officials privately
concede are likely to land a
limited blow on Moscow.
The latest measures, also in-
tended to mark the second an-
niversary of Russia’s invasion
of Ukraine, add nearly 600 tar-
gets to U.S. sanction rosters,
BY IAN TALLEY
AND VIVIAN SALAMA
New Sanctions Over Navalny
Reveal U.S.’s Limited Tool Kit
ROMAN
PILIPEY/AGENCE
FRANCE-PRESSE/GETTY
IMAGES
A friend embraced Liudmyla, left, whose soldier son Tymofii Boyko was killed fighting Russian troops, next to the Wall of
Remembrance of the Fallen for Ukraine in Kyiv on Friday, a day before the second anniversary of Russia’s invasion.
new think tank, America First Policy Insti-
tute, with a mission to perpetuate Trump-era
policies for generations to come. The West
Texas oilman, whose efforts in his home state
have been both successful and polarizing, re-
sponded with both enthusiasm and money.
“He’s a visionary,” said Rollins, who previ-
ously worked with Dunn building a political
think tank in Texas. “His ability to build or-
ganizations and structure and culture is so
incredible. I’ve relied on him more for that
than his funding.”
PleaseturntopageA10
Christian Oil Tycoon Brings
Texas Tactics to National GOP
Tim Dunn is one of the rich Republicans funding groups that
aim to perpetuate Trump policies; ‘administration in waiting’
How Trump flipped GOP
on Ukraine aid.................... A6
European ministers press
U.S. on Kyiv.......................... A7
IVF ruling tests Republicans......................... A4
REVIEW
Can Warner
Uncancel
J.K. Rowling?
EXCHANGE
An
American
Chocolate
Lover
In Paris
OFF DUTY
s 2024 Dow Jones & Company, Inc.
All Rights Reserved
CONTENTS
Books....................... C7-12
Business & Finance B9
Food.................... D11-D12
Gear & Gadgets D4-5
Heard on Street....B12
Markets...................... B11
Obituaries................... A9
Opinion................. A11-13
Sports.......................... A14
Style & Fashion D2-3
Travel........................ D8-9
U.S. News.............. A2-6
World News........ A7-9
>
The Biden administration
released a raft of sanctions
to punish Moscow for the
death of Kremlin critic Alexei
Navalny in a Russian prison,
but U.S. officials privately
concede the steps are likely
to land a limited blow. A1
European foreign ministers
warned that the outcome of
the Ukraine war is critical to
American strategic and secu-
rity interests as Russia
presses its offensive and U.S.
military assistance is hung up
in Congress. A7
A Manhattan jury ordered
the National Rifle Associa-
tion’s former leader, Wayne
LaPierre, to pay more than
$4.3 million back to the gun-
rights group for misspending
its charitable funds. A3
The U.S. is pushing Can-
ada to impose visa require-
ments on Mexican visitors,
aiming to stem a surge in il-
legal crossings at the north-
ern border. A3
Roughly half of college
graduates end up in jobs
where their degrees aren’t
needed, and that underem-
ployment has lasting impli-
cations for their earnings
and career paths. A2
Israel Prime Minister Ne-
tanyahu outlined a blueprint
for postwar Gaza that calls for
it to be administered by local
Palestinian officials free of links
to militant groups and for Israel
to conduct security operations
in the strip indefinitely. A8
NOONAN
Ol’ Cranky
and the State
of the Union A13
2. “In reality, it hasn’t really
helped me that much.” He
currently works security at a
corporate facility in the Cin-
cinnati area. Getting stuck
early on in such jobs can rip-
ple across a lifetime of earn-
ings.
In their 20s, bachelor’s de-
gree holders working college-
level jobs earn nearly 90%
more than people with just a
high-school diploma, accord-
Roughly half of college
graduates end up in jobs
where their degrees aren’t
needed, and that underem-
ployment has lasting implica-
tions for their earnings and
career paths.
A new study tracking more
than 10 million people who
entered the job market over
the past decade suggests that
the portion of graduates in
jobs that don’t make use of
their skills or creden-
tials—52%—is larger than
previously thought, and un-
derscores the lasting impor-
tance of that first job after
graduation.
Most of the graduates who
held non-college-level jobs a
year after leaving college re-
mained underemployed a de-
cade later, according to re-
searchers at labor analytics
firm Burning Glass Institute
and nonprofit Strada Educa-
tion Foundation, which ana-
lyzed the résumés of workers
who graduated between 2012
and 2021.
More than any other factor
analyzed—including race,
gender and choice of univer-
sity—what a person studies
determines the odds of get-
ting on a college-level career
track. Internships are also
critical.
The findings add fuel to
the debate over the value of a
college education as its cost
has soared.
“You’re told your entire
life, ‘Go to college, get a bach-
elor’s degree and your life is
gonna be gravy after that,’”
said Alexander Wolfe, 29
years old, a 2018 graduate of
Northern Kentucky University.
BY VANESSA FUHRMANS
AND LINDSAY ELLIS
THE WALL STREET JOURNAL
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A Hong Kong-registered
ship carrying tanks of lique-
fied natural gas was misiden-
tified as a Chinese LNG tanker
in a Feb. 15 photo caption with
a Business & Finance article
about Shell’s expectations for
global gas demand.
Readers can alert The Wall Street Journal to any errors in news articles by
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CORRECTIONS AMPLIFICATIONS
Newer college graduates
face other challenges land-
ing a first job as the mar-
ket for white-collar work
cools. Artificial intelligence
promises to revamp some
of the entry-level work
grads do, business leaders
and researchers say. And
many recent graduates say
the pandemic wreaked last-
ing havoc on their transi-
tion into the workforce.
Maroua Ouadani, 24,
says she struggled in her
postgraduation job in sales
at a travel company in
2021. Working remotely,
she couldn’t listen to and
learn from colleagues as
they closed deals, and a
move to a front-desk recep-
tion role was also unfulfill-
ing because most of her
colleagues worked from
home. She left to work as
an executive assistant for a
social-media influencer, but
the job ended months later.
After that, Ouadani
couldn’t find work for more
than a year. Eventually a
staffing agency helped her
land an administrative-assis-
tant position. In her future
career, she said, she expects
to rely on her connections
and entrepreneurship, instead
of her degree in hospitality.
“This job market shows
how replaceable you are,”
she said.
The Shifting White-Collar Job Market
EDUCATION
Colleges Settle
Price-Fixing Suit
Dartmouth College, North-
western University, Rice Uni-
versity and Vanderbilt Univer-
sity agreed Friday to pay
$166 million to settle a law-
suit accusing them and other
schools of colluding on stu-
dents’ financial-aid packages.
They were part of a group
of 17 highly selective schools
accused in 2022 of illegal
price-fixing; 10 have now set-
tled or agreed to do so.
Dartmouth and Rice will
each pay $33.75 million,
Northwestern $43.5 million
and Vanderbilt $55 million,
according to filings in an Illi-
nois federal court Friday. The
payments will be directed to
a fund for students harmed
by the alleged collusion.
The colleges were allowed
under a federal antitrust ex-
emption to collaborate on aid
calculations, but only if they
didn’t take financial need into
consideration when reviewing
applicants and didn’t discuss
aid offers for individual stu-
dents. The suit alleged that
the schools did consider fi-
nances in some circumstances.
Northwestern and Vander-
bilt said Friday evening that
though they denied wrongdo-
ing, by settling they would
avoid the distraction and cost
of continued litigation. They
also highlighted their finan-
cial-aid programs currently
available to students. Repre-
sentatives from Dartmouth
and Rice didn’t respond to re-
quests for comment.
—Melissa Korn
NCAA
Judge’s Decision
Voids NIL Rules
A federal judge on Friday
barred the NCAA from en-
forcing its rules prohibiting
name, image and likeness
compensation from being
used to recruit athletes,
granting a request for a pre-
liminary injunction from the
states of Tennessee and Vir-
ginia and dealing another
blow to the association’s abil-
ity to govern college sports.
The ruling by U.S. District
Judge Clifton Corker in the
Eastern District of Tennessee
undercuts what has been a
fundamental principle of the
National Collegiate Athletic
Association’s model of ama-
teurism for decades: Third
parties cannot pay recruits to
attend a particular school.
“The NCAA’s prohibition
likely violates federal anti-
trust law and ha[r]ms stu-
dent-athletes,” Corker wrote
in granting the injunction.
The plaintiffs’ arguments
in asking for the injunction
suggest that since the NCAA
lifted its ban on athletes’
cashing in on their fame in
2021, recruits are already fac-
toring in name, image and
likeness opportunities when
they choose a school.
The attorneys general of
Tennessee and Virginia filed
a federal lawsuit on Jan. 31
that challenged the NCAA’s
rules after it was revealed
that the association was in-
vestigating the University of
Tennessee for potential in-
fractions.
—Associated Press
ing to a Burning Glass analy-
sis of 2022 U.S. Census Bu-
reau data. By comparison,
underemployed college gradu-
ates earn 25% more than
high-school graduates.
“It’s not that a degree isn’t
worth it,” said Burning Glass
President Matt Sigelman. “It’s
worth it to too few people.”
Wolfe thought completing
his degree—in integrative
studies, combining credits in
education, history and psy-
chology—would help him
dodge the kinds of career
roadblocks that relatives of
his who didn’t finish college
ran into. Instead he has held a
string of jobs in sales, retail
and food service, including
one that ended in a layoff.
Looking back, he said he
wishes he’d taken time off be-
fore college to explore career
options, and worries his de-
Source: Burning Glass Institute analysis of Lightcast Career Histories Database
Share of graduates who are underemployed five years after leaving college, by area of study
Biological and
biomedical sciences
Public administration
and social services
Computer science
Physical sciences
Mathematics
and statistics
Architecture
Education
and planning
Business
(math intensive)
Health professions
Engineering
and related programs
Public safety
and security
Recreation and
wellness
Business
Other
(management,
marketing, HR)
Humanities and
cultural studies
Visual and
performing arts
Psychology
Communication
and journalism
Interdisciplinary
Social sciences
studies
45%
of college graduates
don’t have a job that
requires a degree or
college-level skills
Graduation 45%
45%
52%
55%
55%
48%
Underemployed
College-level jobs
5 YEARS 10 YEARS
1 YEAR POST-GRAD
Rate of underemployment among graduates who
did an internship in college vs. those who didn't
Public safety and security
Recreation and wellness
Business (management,
marketing, HR)
Other
Humanities and cultural
studies
Overall average
Communication, journalism
Psychology
Interdisciplinary studies
Biological and
biomedical sciences
Physical sciences
Public administration
and social services
Mathematics and statistics
Computer science
Education
Architecture and planning
Business (math intensive)
Engineering
70
60
50
40
30
20
10
0%
Underemployment rate
for graduates with
an internship
Underemployment rate for
graduates without an internship
Visual and performing arts
Social sciences
23%
26%
29%
30%
34%
35%
36%
44% 44%
47%
51%
53% 53%
54%
55%
57%
57%
60%
68%
49%
Overall average
gree doesn’t stand out.
He also regrets taking an
entry-level sales job in logis-
tics after months of fruitless
job hunting following gradua-
tion. He thought it was better
than working reception jobs
or serving food at a local
country club, but now sus-
pects settling into a specific
industry made it harder for
him to find work elsewhere.
“I would stress to anyone
out there, hold out as long as
you can” for the right first
job, he said. “You don’t want
to pigeonhole yourself into
something you don’t want to
do.”
Once a graduate’s first two
or three jobs are clustered
around one industry or set of
tasks—say, if an aspiring mar-
keting strategist takes food-
service-supervisor roles to
pay the bills—it is harder to
hop into another career lane,
said Joseph Fuller, a manage-
ment professor who co-leads
the Managing the Future of
Work initiative at Harvard
Business School.
Contrary to conventional
wisdom, not all degrees in
STEM disciplines—science,
technology, engineering and
math—are a sure bet to land-
ing a job that reflects a col-
lege education, the study
found. Nearly half of people
who majored in biology and
biomedical sciences—47%—
remained underemployed five
years after graduating.
The Burning Glass/Strada
study found that most of the
graduates who don’t find
work reflecting their degrees
are “severely underem-
ployed,” meaning in jobs that
only require a high-school ed-
ucation or less. Five years af-
ter graduation, 88% of under-
employed graduates remained
in this category, working jobs
such as office support, retail
sales and food service.
“We all need to be thinking
of that first post-college job
as a high-stakes milestone,
and give it the attention it de-
serves,” said Stephen Moret,
Strada’s president and chief
executive.
Securing even one intern-
ship during college signifi-
cantly improves the odds of
landing a college-level job
upon graduation, according to
the study. For humanities and
psychology majors, the rate of
underemployment five years
after college dropped by a
quarter with an internship.
Among social-sciences ma-
jors, it fell by 40%.
Colleges are recognizing
this. At Tufts University, envi-
ronmental studies majors
complete at least 100 hours of
internship experience.
Roughly 50% to 70% of its
students go into environmen-
tal work after graduation.
Other institutions have set up
scholarship funds to subsidize
students who take unpaid in-
ternships.
Nearly all undergrads at
Northeastern University in
Boston complete at least one
six-month internship. Six
months after graduation, 91%
of working graduates report
having jobs related to their
major, according to the
school’s most recent data.
Brennan Bence, 23, says he
wished he’d gotten more in-
ternship experience while at
Dakota Wesleyan University
in South Dakota. The 2022
graduate majored in theater
with a minor in business, re-
alizing later in his studies
that he wanted to go into
marketing in tech or online
gaming.
By then, the pandemic had
winnowed his internship pos-
sibilities, and he’d devoted
much of his summers to stock
theater. It took months and
more than 500 rejection
emails to land a decent-pay-
ing job as an office adminis-
trator. He still aspires to work
in tech or gaming but says he
may have to pursue an M.B.A.
to reset his career path.
Half of College Grads Are Underemployed
Their jobs don’t use
their credentials or
skills, study finds;
lasting implications
Alexander Wolfe, 29, worries that his first job after college pigeonholed him into a career he
didn’t want. Maroua Ouadani, 24, couldn’t find work for more than a year after a layoff.
FROM
LEFT:
JOHN
CASABLANCAS
MODELING,
MAROUA
OUADANI
U.S.WATCH
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A surveillance image provided by the U.S. Border Patrol shows two people it said were illegally crossing the border from Canada in January 2023.
U.S.
BORDER
PATROL
SWANTON
SECTOR/AP
IRVINE, Calif.—Sharon
Landers and Joseph Gagliano
never expected to spend years
in court fighting their public-
school system.
But when the Irvine Unified
School District disputed their
daughter had dyslexia and de-
nied her the special-education
assistance they felt she
needed to graduate, they hired
a lawyer. They hoped for a
quick settlement.
Instead, the district ap-
pealed every ruling that went
in the family’s favor, taking
the case to one step below the
U.S. Supreme Court. Irvine
Unified has now spent more
than $1 million in legal fees
fighting Landers and Gagliano,
who had requested that the
district pay about $40,000 a
year for their daughter to at-
tend a specialized private
school to address her learning
disabilities if it wouldn’t pro-
vide the help itself.
“What caused this to con-
tinue was the sense of justice
and fairness, both for our
daughter and for other kids,”
Landers said.
The district said it some-
times must litigate against
parents out of caution about
establishing costly new prece-
dents. Roughly 10% of the dis-
trict’s 38,000 students have a
learning disability. Nation-
wide, special-education dis-
putes generated nearly 46,500
formal complaints or media-
tion requests in 2021-22, the
most recent federal data, up
model of the spacecraft to
demonstrate how the company
believes it is situated.
The spacecraft, called
Odysseus, is a roughly 14-foot-
tall vehicle designed to auton-
omously make its way down to
the surface of the moon from
a lunar orbit, and touch down
on an array of legs.
“We have quite a bit of op-
erational capability even
though we’re tipped over,” Al-
temus said.
Before Thursday’s landing,
the U.S. hadn’t landed on the
moon since the final Apollo
astronaut mission in 1972.
Landing on the moon is diffi-
cult, requiring a dramatic
slowdown for vehicles to
softly touch down. The moon’s
craggy surface poses another
challenge.
The first U.S. moon landing
in more than 50 years fea-
tured an on-the-fly software
fix and a vehicle that tipped
over after it touched down.
Executives at Intuitive Ma-
chines, the company behind
the vehicle now on the moon,
said late Friday the spacecraft
is on its side, apparently held
up by a rock. That orientation
leaves some antennas facing
the lunar surface, meaning
they can’t be used, though sci-
entific devices the lander car-
ried are still usable, they said.
Stephen Altemus, chief ex-
ecutive of Intuitive Machines,
said the company was still an-
alyzing what caused the vehi-
cle to end up on its side. Dur-
ing a press briefing he used a
BY MICAH MAIDENBERG
U.S. Moon Lander Is Safe—
But Resting on Its Side
A New York jury on Friday
ordered the National Rifle As-
sociation’s former longtime
leader Wayne LaPierre to pay
more than $4.3 million back to
the gun-rights group for mis-
spending its charitable funds.
A six-person jury in Man-
hattan deliberated for five
days before finding the NRA,
LaPierre and two other execu-
tives liable for violating state
charity laws.
New York Attorney General
Letitia James sued the NRA
and the executives in 2020, al-
leging that company insiders
used the nonprofit as their own
“personal piggy bank.” James’s
office has alleged that LaPierre
spent millions of dollars in
NRA charitable assets on pri-
vate plane trips for himself and
his family and vacationed mul-
tiple times in the Bahamas on
the yacht of an NRA vendor. In
addition, prosecutors said he
arranged lucrative financial
deals with company insiders
that didn’t benefit the NRA.
LaPierre maintained that he
had acted in the best interests
of his organization. On the eve
of the six-week trial in state
court, he announced his resig-
nation from the NRA, citing
health reasons.
LaPierre, 74 years old, had
run the NRA since 1991, ex-
panding it into a lobbying
powerhouse and formidable
force for gun rights. A rash of
national mass shootings made
him a polarizing figure,
loathed by gun-control activ-
ists. In more recent years, the
group’s influence and reve-
nues have diminished as a re-
sult of its corruption scandal.
LaPierre and the NRA have
said the group has embarked
on a major “course correction”
by terminating certain ven-
dors, promoting a whistle-
blower to its top financial job
and eliminating virtually all
related-party transactions
with board members.
The jury ordered LaPierre
to pay back $5.4 million, mi-
nus what he had already reim-
bursed the group, which they
calculated at just more than
$1 million. The group’s former
chief financial officer, Wilson
“Woody” Phillips, was ordered
to pay the NRA $2 million.
The NRA has claimed the
civil lawsuit is politically mo-
tivated and retaliation for its
views. James—a Democrat
who as a candidate once
called the NRA a terrorist or-
ganization—initially sought to
dissolve the nonprofit. State
Supreme Court Justice Joel
Cohen rejected her efforts.
BY JACOB GERSHMAN
Ex-NRA
Chief Must
Pay Back
$4 Million
The U.S. is pushing Canada
to impose visa requirements
on Mexican visitors, aiming to
stem a surge in illegal cross-
ings at the northern border as
immigration shapes up as an
election-defining issue across
North America.
Officials in the U.S. say that
Mexican migrants are using
the Canadian border as a back
door into the U.S., avoiding the
busy and more closely guarded
southwestern border and gain-
ing the attention of some pres-
idential candidates. Nikki Ha-
ley, who is vying for the
Republican nomination against
Donald Trump, in December
called for more attention on
the northern crossing during a
visit to New Hampshire, and
the number of migrants inter-
cepted at the northern border
is quickly growing.
Now Washington is increas-
ing the pressure on Canada to
require Mexican visitors to ob-
tain visas, according to a U.S.
official familiar with the dis-
cussions and government offi-
cials in Mexico. Homeland Se-
curity Secretary Alejandro
Mayorkas said during a visit to
Ottawa last year that the U.S.
had been speaking to Canada
about the matter.
A spokeswoman for Can-
ada’s immigration depart-
By Vipal Monga,
Michelle Hackman and
Santiago Pérez
ment declined to comment.
Canada’s Public Safety Min-
ister Dominic LeBlanc has said
Ottawa is considering a range
of options to curb the number
of Mexican asylum seekers, in-
cluding reimposing a visa.
One government official
said Canada is wary of an-
nouncing any new travel re-
strictions before they are im-
plemented to avoid triggering
a rush to the border that could
overwhelm customs officials.
Last year, rumors that Can-
ada and the U.S. were about to
close unofficial border cross-
ings created a surge of cross-
ings at Roxham Road, a path
between New York state and
Quebec.
The U.S. Border Patrol de-
tained more than 10,000 mi-
grants at the northern border
during the fiscal year that
ended in September, five times
as many as in 2022. Almost
half of them were Mexican na-
tionals, according to U.S. gov-
ernment data. Canada itself is
struggling with a jump in Mex-
ican asylum seekers, whose
numbers have more than dou-
bled in the past year.
“It’s not a number like
those we see along the U.S.-
Mexico border, but it’s some-
thing that we want to ad-
dress,” said Roberto Velasco,
head of North American affairs
at Mexico’s Foreign Ministry.
Over half a million Mexicans
were apprehended in the last
fiscal year at the U.S.’s south-
western border.
Canadian Prime Minister
Justin Trudeau lifted the visa
requirement for Mexican visi-
tors in 2016 as part of efforts
to deepen ties with one of
Canada’s largest trading part-
ners. They can get an elec-
tronic travel authorization by
filling out an online applica-
tion, which costs the equiva-
lent of about $5.
Last week, Trudeau said Ca-
nadian officials are in discus-
sions with Mexican counter-
parts to find ways to reduce
the flow of asylum seekers.
Both countries say that orga-
nized-crime groups arrange
travel to Canada for Mexicans
looking for work. Some are of-
ten trapped in forced-labor
schemes, Velasco said. Others
are transported to the U.S.
border.
Canada’s federal police
force, the Royal Canadian
Mounted Police, last week said
it had charged two Mexican cit-
izens with conspiring to trans-
port 11 people from Quebec to
the U.S.
The Mexican government
says it is working with Can-
ada’s immigration authorities
to strengthen screening of trav-
elers and cut down on bogus
asylum claims. That effort led
to a decrease in applications at
Canadian airports in December.
Mexico is also starting informa-
tion campaigns in some com-
munities with significant emi-
gration to Canada to prevent
would-be guest workers falling
victim to trafficking rings.
About half a million Mexi-
can tourists visited Canada
last year, spending about $750
million, according to Mexican
government estimates. There
are about 150,000 Mexicans
legally residing in the country.
“We believe that reimpos-
ing visas would have an im-
pact on the flow of tourists
and business travel mobility in
both countries,” Velasco said.
Illegal crossings from the
north are becoming more fre-
quent along a 295-mile stretch
of border that separates New
York, New Hampshire and
Vermont from the Canadian
provinces of Quebec and On-
tario.
The area, known as the
Swanton Sector, is thinly
staffed by U.S. Border Patrol
agents. There is no fencing to
deter interlopers, who cross
the border by tramping
through snow-covered fields,
making treacherous crossings
of the St. Lawrence River, or
cutting through thick forests
and wetlands.
Canadian officials say that
the number of Mexican asy-
lum seekers has more than
doubled in the past year,
straining budgets and welfare
resources in provinces such as
Quebec, which receives more
than half of Mexican asylum
seekers. Many arrivals ask for
asylum as soon as they disem-
bark from commercial flights.
The increase in migration is
straining Canada’s housing
markets, public healthcare
services and social safety net.
On Tuesday, Quebec provin-
cial ministers demanded $750
million to reimburse the prov-
ince for the cost of providing
for asylum seekers.
U.S.AimstoStemIllegalCrossingsFromNorth
Officials are pressing
Canada to impose
visa requirements
on Mexican visitors
2016 ’17 ’18 ’19 ’20 ’21 ’22 ’23
0
2
4
6
8
10
12
14
16
18 thousand
Number of asylum seekers from Mexico
at the Canadian border*
Sources: Immigration and Refugee Board of Canada (asylum seekers); U.S. Customs and Border Protection (encounters)
*2023 data as of Sept. 30 †For fiscal year ending Sept. 30
Oct. Jan. April July Sept.
0
100
200
300
400
500
600
700
2021
2022
FY2023
U.S. encounters from Mexico
at the northern border, monthly†
27% from the prior year.
Many parents and educa-
tors say the system is inacces-
sible to all but the most savvy
and well-resourced families.
“This is a broken system,”
said Sasha Pudelski, director
of advocacy with AASA, the
school superintendents associ-
ation. “It’s truly nightmarish
and doesn’t work for anyone.”
Children with disabilities
are entitled to what is known
as a free appropriate public
education under a 1970s fed-
eral law. Nationally, 8.4 mil-
lion students from ages 3 to
21—17% of all public-school
students—are
classified as
needing special
education.
Landers and
Gagliano said
that for years
they trusted
the school sys-
tem in Irvine.
Their daughter
first became el-
igible for spe-
cial education in early elemen-
tary school.
By sixth grade, they noticed
she was still reading at a
third-grade level. They pushed
the district for more special-
ized services for dyslexia, but
the school initially wouldn’t
recognize the diagnosis.
“There was no effort to
catch her up,” said Landers, a
lawyer who has worked as an
executive in government agen-
cies. By 2018, the parents de-
cided to move their daughter
to a private school for chil-
dren with dyslexia. They filed
what is known as a due-pro-
cess case seeking reimburse-
ment. The district argued pri-
vate school was unwarranted.
After a 10-day hearing that
resembled a courtroom trial,
an administrative law judge in
2019 found the district re-
sponsible for the tuition and
services the family requested.
In a mixed decision, the judge
ultimately concluded Irvine
Unified improperly modified
the student’s curriculum so
much that she wasn’t on track
to graduate from high school.
Both sides appealed aspects
of the decision.
For five years,
they criss-
crossed from
federal district
court, back to
the administra-
tive law judge
and, ultimately,
to the Ninth U.S.
Circuit Court of
Appeals. A large
part of the bat-
tle became about how much
Tim Adams, the family’s attor-
ney, would be paid.
The Ninth Circuit issued a
ruling the day after Christmas
upholding the family’s initial
win. The court also said Ad-
ams’s fees, which have grown
to $406,420, should be paid by
Irvine Unified. The district’s
bills, from law firm Littler
Mendelson, have reached $1.13
million, public records show.
An Irvine Unified spokes-
woman said the district has
an obligation to defend itself—
even if it involves many ap-
peals—if administrators feel
they can meet a student’s
needs. Requests for private
school can top $100,000 a stu-
dent a year, she said.
Most due process cases in
the district settle, the spokes-
woman said. Irvine Unified
typically spends $500,000 to
$1 million a year to reimburse
families for private schools.
Nationally, such reimburse-
ments are often doled out un-
evenly. “The squeaky wheel
gets the oil,” said Amy Brandt,
a San Francisco lawyer who
represents school districts.
“The families who can squeak
the loudest generally have
more resources.”
Many working in special
education want a less adver-
sarial path, and some states
are investing in finding one.
“When conflict escalates,
people become emotionally in-
volved, positions polarize, and
our motivations change—we
want to prove something,”
said Melanie Reese, director of
the federally funded Center
for Appropriate Dispute Reso-
lution in Special Education.
Landers and Gagliano con-
tinue to seek reimbursement
for further years of private
school. They have spent tens
of thousands of dollars in ex-
pert fees, retainer agreements
and some legal fees that won’t
be reimbursed. Their daugh-
ter, now 17, will likely gradu-
ate after an extra year of high
school. She is at a 7th-grade
reading level, Landers said,
but is progressing with help.
BY SARA RANDAZZO
Special-Ed Suit Spotlights Tension Over Cost
17% of public-
school students
are classified as
needing special
education.
CEO Steve Altemus says the craft likely tipped over.
NASA/ASSOCIATED
PRESS
4. A4 | Saturday/Sunday, February 24 - 25, 2024 P W L C 10 11 12 H T G K R F A M 1 2 3 4 5 6 7 8 9 O I X X * * * * THE WALL STREET JOURNAL.
work Summit this month.
On Wednesday, after Nvidia
turned in a third straight
quarter of forecast-beating re-
sults, company executives said
that supplies were still tight
and that a new generation of
AI chips that is expected to be
launched this year will be
supply-constrained.
The design of the chips
makes them critical parts for
training the giant language
models that underpin genera-
tive AI bots such as OpenAI’s
ChatGPT. Much of the AI
spending by such tech compa-
nies as Microsoft, Alphabet and
Amazon.com has gone to GPUs.
Jensen Huang, Nvidia’s
chief executive officer and co-
founder, said generative AI is
kicking off a wave of invest-
ment worth trillions of dollars,
which he believed would dou-
ble the amount of data centers
in the world in the next five
years and deliver market op-
portunities for Nvidia.
“A whole new industry is
being formed, and that’s driv-
ing our growth,” he said on
ContinuedfromPageOne
Abortion was already one
of Republicans’ biggest liabili-
ties heading into the Novem-
ber election. A state-court rul-
ing that prompted some
health clinics to halt in vitro
fertilization treatments this
week is making it an even big-
ger problem for the party.
The Alabama Supreme
Court ruled that frozen em-
bryos qualify as children and
are therefore protected by a
state law that allows parents
to recover punitive damages
in the event of a child’s death.
Because the process of in vitro
fertilization can include de-
stroying embryos, some IVF
providers in the state said
they were suspending the
treatments because it may ex-
pose them to lawsuits.
The Republican Party has
struggled to coalesce around
an abortion stance that ap-
peals broadly to voters ever
since the Supreme Court over-
turned Roe v. Wade in 2022
and ended the constitutional
right to an abortion. State-
By Stephanie Armour,
Annie Linskey
and Natalie Andrews
U.S. NEWS
level ballot measures to pro-
tect abortion access drove
turnout in the midterms that
year that favored Democrats,
even in red states.
With polls showing strong
support for fertility services
such as in vitro fertilization,
Republicans risk losing vot-
ers—especially suburban
women, a key bloc for both
parties—as Democrats portray
the Alabama ruling as extreme.
Donald Trump, the GOP
presidential front-runner, said
Friday that he was calling on
the Alabama legislature to find
an immediate solution to pre-
serve IVF access in the state.
“Under my leadership, the
Republican party will always
support the creation of strong,
thriving, healthy American
families,” he said on Truth So-
cial, meaning IVF availability
in every state.
The National Republican
Senatorial Committee, which
works to elect Republicans in
the Senate, on Friday urged
candidates to “clearly and
concisely reject efforts by the
government to restrict” in
vitro fertilization, according to
a memo from the committee’s
executive director, Jason
Thielman.
“When responding to the
Alabama Supreme Court rul-
ing, it is imperative that our
candidates align with the pub-
lic’s overwhelming support for
IVF and fertility treatments,”
the memo reads.
Rep. Nancy Mace (R., S.C.)
said Republicans need to be
more outspoken on the issue.
Though Republicans won the
House majority in 2022, the
margin was narrow, and Dem-
ocrats were able to mobilize
voters around resolutions to
enshrine abortion access.
“I’m going to file a resolu-
tion next week supporting
protecting IVF access for
women everywhere,” Mace
said in an interview.
GOP candidates seemed to
be caught off guard in re-
sponding to the ruling. Nikki
Haley, who is challenging
Trump for the Republican
presidential nomination, told
CNN on Wednesday that an
embryo is an unborn baby.
The former South Carolina
governor later tempered her
stance, saying Thursday on
CNN that “we don’t want fer-
tility treatment to shut down.”
Sen. Tim Scott of South
Carolina, a potential running
mate for Trump, said in a
press conference and on CNN,
“I haven’t studied the issue.”
In Alabama, House and
Senate members are working
on a legislative solution to
preserve access to in vitro fer-
tilization services, and Repub-
lican Gov. Kay Ivey has sig-
naled her support.
Democrats are seizing on
the Alabama decision to turn
up the heat on Republicans,
portraying it as a threat to in
vitro fertilization. IVF accounts
for some 2% of U.S. births.
Kentucky Gov. Andy
Beshear, a Democrat, said he
believes voters of both parties
are “deeply offended” by the
Alabama decision.
President Biden on Thurs-
day derided the Alabama
court decision as “outrageous
and unacceptable.” Democrats
are pointing to the ruling as
fruition of their warning that
the reversal of constitutional
access to abortion would limit
fertility treatments.
The effort by GOP lawmak-
ers to distance themselves
from the ruling is a tricky bal-
ancing act because the deci-
sion has been praised by a
number of antiabortion groups
whose support is also critical
to Republican candidates.
Katie Daniel, state policy
director for SBA Pro-Life
America, said in a statement
that “the Alabama Court rec-
ognized what is obvious and a
scientific fact—life begins at
conception.” She said it
doesn’t mean a prohibition on
fertility treatment, but it does
mean treatments shouldn’t
“carelessly or intentionally de-
stroy the new life created.”
But some antiabortion
groups say in vitro fertiliza-
tion is unethical and immoral.
“Everyone is very thankful
about the decision,” said Judie
Brown, president and co-
founder of American Life
League, a Catholic antiabor-
tion group. “There should be
no IVF.”
Lila Rose, president and
founder of the antiabortion
organization Live Action, also
supported the decision.
IVF Ruling Puts Republicans in Tight Spot
Abortion foes back
Alabama decision as
Democrats try to
turn up heat on GOP
In vitro fertilization accounts for some 2% of U.S. births, and polls show it has strong support.
KAYANA
SZYMCZAK
FOR
THE
WALL
STREET
JOURNAL
the company’s earnings call.
Nvidia on Wednesday reported
quarterly sales of $22.1 billion
and forecast an additional
$24 billion for its current
quarter, each more than triple
what was posted a year earlier
and ahead of Wall Street’s
bullish expectations.
The results have propelled
Nvidia shares to their lofty
heights. The stock opened Fri-
day at $807.90, valuing the
company at $2.02 trillion.
Shares later retreated and
closed at $788.17, up 0.4% on
the day. The stock needs a
price of $800 for the company
to be valued at $2 trillion.
Nvidia shares are up 59% so
far this year after more than
tripling in 2023.
Founded more than 30
years ago with an initial focus
on computer graphics chips
for PC gaming, Nvidia latched
on early to AI.
Huang owns 86.6 million
Nvidia shares, according to
FactSet, valued at about
$68 billion.
Huang laid the groundwork
for Nvidia’s AI rise in 2006
when he opened up its chips
for purposes beyond computer
graphics. Engineers soon
started to use them for AI cal-
culations, where they proved
to be especially proficient.
Tens of thousands of
Nvidia’s most advanced GPUs,
called H100s, are commonly
used in the creation of the
most sophisticated AI systems.
And they are pricey, going for
around $25,000 each, accord-
ing to analyst estimates.
Analysts estimate Nvidia can
make around 1.2 million of the
chips a year, but meeting de-
mand has become difficult.
Nvidia designs the chips and
contracts out their production
to Taiwan Semiconductor Man-
ufacturing Co., which has run
into a bottleneck in later steps
of the chip-making process
where pieces of silicon are as-
sembled into a final chip. TSMC
is aiming to double capacity in
these later steps this year.
Surging demand has led
competitors to develop their
own AI-focused chips. Ad-
vanced Micro Devices has
started selling chips that aim
to compete with Nvidia’s of-
ferings and projects sales of
those chips at more than
$3.5 billion this year. The Brit-
ish chip designer Arm Hold-
ings has touted the usefulness
of its chips for AI, and Intel
has started selling central pro-
cessing units that can handle
AI calculations.
There are also a raft of
startups making AI chips. And
big cloud-computing compa-
nies such as Google and Ama-
zon are building up internal AI
chip development efforts. Mi-
crosoft unveiled its first AI
chip, called the Maia 100, in
November.
Meanwhile, startups and
big tech companies alike have
been touting how many of
Nvidia’s chips they have
amassed. Last month, Meta
Platforms CEO Mark Zucker-
berg said on Instagram that
his company plans to have
350,000 of Nvidia’s H100 chips
by the end of this year.
CoreWeave, which counts
Nvidia as an investor, in Au-
gust secured $2.3 billion of fi-
nancing backed by its Nvidia
H100s. The effective interest
rate was high, reflecting its
risk, according to a person fa-
miliar with the deal.
Even some universities are
touting H100 inventories for
recruiting and bragging
rights. Princeton’s Language
and Intelligence Initiative has
“state-of-the-art computa-
tional infrastructure with 300
Nvidia H100 GPUs,” its direc-
tor, Sanjeev Arora, said last
year on the website for the
group, which was recruiting a
software engineer and re-
search scientist.
Google has set up an execu-
tive committee to decide on
how to divide computing re-
sources between the com-
pany’s internal and external
users. Microsoft has instituted
a similar rationing program,
called GPU councils, where ex-
ecutives determine how the re-
maining computing resources
are divided up between Micro-
soft’s internal projects.
Many analysts and industry
executives say Nvidia’s advan-
tages can’t easily be eroded by
the competition, thanks to the
depth and complexity of the
software it has spent years
building around its chips.
But Andrew Ng, an artifi-
cial-intelligence pioneer who
runs AI Fund, said AMD and
Intel have made significant
headway in developing com-
peting software systems to go
with AI-powering chips.
“I think in a year or so the
semiconductor shortage will
feel much better,” he said at
the Journal’s CIO conference.
3 years ago
2 years ago
1 year ago
Latest
fiscal year
0% 25 50 75 100 125
Microsoft
Meta
Tesla
Nvidia
Revenue growth, change from a year earlier*
*Annual revenue growth over past four fiscal years †Data through Friday’s close Source: FactSet
Microsoft
Apple
Nvidia
Alphabet
Amazon.com
Meta
Tesla
Market value†
0.2%
$3.05
trillion
2.82
1.97
1.82
1.80
1.23
0.61
Nvidia Hits
$2 Trillion
Valuation
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5. THE WALL STREET JOURNAL. * * * * * * Saturday/Sunday, February 24 - 25, 2024 | A5
U.S. NEWS
Meta could have banned sub-
scriptions to accounts that fea-
ture child models, as rival Tik-
Tok and paid-content
platforms Patreon and Only-
Fans do, those people said. The
staffers formally recommended
that Meta could require ac-
counts selling subscriptions to
child-focused content to regis-
ter themselves so the company
could monitor them.
Meta didn’t pursue those
proposals, the people said, and
instead chose to build an au-
tomated system to prevent
suspected pedophiles from be-
ing given the option to sub-
scribe to parent-run accounts.
The technology didn’t always
work, and the subscription
ban could be evaded by set-
ting up a new account.
While building the auto-
mated system, Meta expanded
the subscriptions program as
well as the tipping feature,
called “gifts,” to new markets.
A Wall Street Journal exami-
nation also found instances of
misuse involving the gifts tool.
Meta said such programs
are well-monitored, and de-
fended its decision to proceed
with expanding subscriptions
before the planned safety fea-
tures were ready. The com-
pany noted that it doesn’t col-
lect commissions or fees on
the payments to subscription
accounts, giving it no financial
incentive to encourage users
to subscribe. The company
does collect a commission on
the gifts to such creators.
“We launched creator mon-
etization tools with a robust
set of safety measures and
multiple checks on both cre-
ators and their content,”
spokesman Andy Stone said.
He called the company’s plans
to limit likely pedophiles from
subscribing to children “part
of our ongoing safety work.”
A review by the Journal of
some of the most popular par-
ent-run modeling accounts on
Instagram and Facebook re-
vealed obvious failures of en-
forcement. One parent-run ac-
count banned last year for
child exploitation had re-
turned to the platforms, re-
ceived official Meta verifica-
tion and gained hundreds of
thousands of followers. Other
parent-run accounts previ-
ously banned on Instagram for
exploitative behavior contin-
ued selling child-modeling
content via Facebook.
In two instances, the Jour-
nal found that parent-run ac-
counts were cross-promoting
pinup-style photos of children
to a 200,000-follower Face-
book page devoted to adult-
sex content creators and preg-
nancy fetishization.
Meta took down those ac-
counts and acknowledged en-
forcement errors after the
Journal flagged their activities
and the company’s own past
removals to Meta’s communi-
cations staff. The company of-
ten failed, however, to remove
“backup” Instagram and Face-
book profiles promoted in their
bios. Those redundant accounts
then continued promoting or
selling material that Meta had
sought to ban until the Journal
inquired about them.
After the Journal last year
revealed that Meta’s algorithms
connect and promote a vast
network of accounts openly de-
voted to underage-sex content,
the company in June estab-
lished a task force to address
child sexualization on its plat-
forms. That work has been lim-
ited in its effectiveness, the
Journal reported last year.
in Saturday’s primary. John
Lush, a retired carpenter, was a
Democrat in New York but felt
the state’s Democratic leader-
ship was getting too aggres-
sive—he cited environmental
restrictions, including a gas
stove ban, and higher taxes—
and recently registered as a
Republican.
“When you’re younger you
can afford to be a liberal—now
you can’t,” he said. John Lush,
who is no fan of Trump and
will vote for Haley on Saturday,
has enjoyed living under South
Carolina’s conservative govern-
ment. “The state politics are
very nice. It’s agreeable,” he
said.
The four-county Greenville
metro area—where Greer is lo-
cated—grew 4.2% between 2019
and 2021, faster than South
Carolina as a whole, which
grew 2.6% during that time.
While South Carolina’s sales-
tax rates rival those of north-
ern states, its top income-tax
rates are often lower, and its
property taxes are significantly
lower. The median property tax
bill in South Carolina—$1,185 in
2022, according to census
data—is about a fifth of the
median in New Jersey, New
York and Massachusetts.
Amanda McDougald Scott,
chair of the Greenville County
Democratic Party, said that
people who moved from
higher-tax states discover the
downsides of lower levies.
“They quickly realize they don’t
have all the same services,
amenities, nice things that they
had in blue states” without the
same taxes, she said.
McDougald Scott and other
South Carolina Democratic of-
ficials are working to target
these new voters and persuade
them to vote Democratic by
focusing on issues like educa-
tion, infrastructure and
healthcare, which she believes
the Republicans are neglect-
ing. She said South Carolina’s
limited access to abortion—
which is banned at six weeks
of pregnancy—is also some-
thing that crosses party lines.
South Carolina’s
Newcomers Lean
Toward the GOP
Conservatives who
leave blue states
often seek politically
favorable new home
Sandy Zal, left, and her husband, Dave Zal, moved to Greer, S.C. three years ago because of its Republican tilt.
JUAN
DIEGO
REYES
FOR
THE
WALL
STREET
JOURNAL
MONCKS CORNER, S.C.—
Nikki Haley called for a re-
turn to normalcy in Ameri-
can politics as she
portrayed Donald Trump as
a major drag on the Repub-
lican Party while seeking to
avoid a landslide drubbing
in her home state’s presi-
dential primary on Saturday.
“Donald Trump cannot
win a general election,” the
former South Carolina gov-
ernor and United Nations
ambassador told several
hundred supporters here
Friday, after saying the
GOP needs to select some-
one with “moral clarity”
who knows “the difference
between right and wrong.”
Trump appeared before
thousands of people at a
rally in Rock Hill on Friday
and focused on the general
election. “We’re going to
show crooked Joe Biden
and the radical left Demo-
crats that we are coming
like a freight train in No-
vember,” he said.
Haley, he said, is relying
on Democrats to fuel her
campaign.
Haley is the last candi-
date standing between
Trump and the GOP nomina-
tion, and she has said she
refuses to “kiss the ring.”
Her prospects of knocking
Trump off course appear
slim, but she insisted Friday
she isn’t backing down.
“I think South Carolina is
going to show up strong and
proud tomorrow,” she said
on the eve of the primary.
—John McCormick
Haley Tries to Hold Back Trump Onslaught in Primary
some parents understood they
were producing content for
other adults’ sexual gratifica-
tion. Sometimes parents en-
gaged in sexual banter about
their own children or had
their daughters interact with
subscribers’ sexual messages.
Meta last year began a
broad rollout of tipping and
paid-subscription services, part
of an effort to give influencers
a financial incentive for pro-
ducing content. Only accounts
belonging to adults are eligible
to sell content or solicit dona-
tions, but the platform allows
adults to run or co-manage ac-
counts in a child’s name.
Such child-modeling ac-
counts drew untoward interest
from adults. After Sarah Ad-
ams, a Canadian mother and
social-media activist, brought
attention to a group of Insta-
gram accounts selling bikini
photos of teen and tween girls
last spring, Meta’s own re-
views confirmed that parent-
run modeling accounts were
catering to users who had
demonstrated pedophilic inter-
ests elsewhere on the platform
and regularly used sexualized
language when discussing the
models. According to the re-
views, Meta’s recommendation
systems were actively promot-
ing such underage modeling
accounts to users suspected of
behaving inappropriately on-
line toward children.
The reviews didn’t find that
all parent-run accounts were
intentionally appealing to pe-
dophilic users, and some par-
ents of prominent young mod-
els have said that they viewed
subscriptions as part of a
valuable online profile even if
some of the interest they drew
was inappropriate.
The Meta staffers found
that its algorithms promoted
child-modeling subscriptions
to likely pedophiles, and in
some cases parents discussed
offering additional content on
other platforms, according to
some people familiar with the
investigations.
To address the problems,
ContinuedfromPageOne
GREER, S.C.—Fed up with
pandemic restrictions, Sandy
Zal uprooted her family from
Schenectady, N.Y., three years
ago and moved here because of
its Republican tilt. She and her
husband named their new com-
pany Freedom Window Tinting,
a nod to South Carolina’s ethos.
“We knew that we’d have
freedom to make choices for
our kids and our family that
were taken away in New York,”
said Zal, 47 years old. On Satur-
day, she will vote for former
President Donald Trump in the
South Carolina Republican pri-
mary because “he’s definitely
for the freedom that we enjoy.”
The Zals are part of a migra-
tion wave that has kept South
Carolina ruby red despite an in-
flux of newcomers from blue
states. A Wall Street Journal
analysis of census data found
that a third of the state’s new
residents between 2017 and
2021 hailed from blue states
and a quarter from red ones,
according to census data. The
remainder came from closely
divided states, including nearby
Georgia and North Carolina, or
are immigrants.
Yet the new arrivals are dis-
proportionately Republican. Es-
timates from the nonpartisan
voter file vendor L2 suggest
about 57% of voters who moved
to South Carolina during that
time are Republicans, while
about 36% are Democrats and
7% are independents. That
places them roughly in line
with recent statewide votes in
South Carolina. Current Repub-
lican Gov. Henry McMaster
took 58% of the vote in 2022,
and Trump had a 12-point mar-
gin over President Biden in
2020.
Trump is expected to easily
beat Nikki Haley, the state’s
former governor, in the Satur-
day primary, according to poll-
ing. He is on track to secure the
GOP presidential nomination as
early as next month.
The Palmetto State is a
prime example of why a years-
long wave of migration to the
South has largely failed to
change its partisan tint. Many
people who leave blue states
are Republicans gravitating to-
ward a more politically favor-
able new home.
In Florida, for instance, 48%
of people who moved there be-
tween 2017 and 2021 came
from blue states while 29%
came from red states, Census
figures show. Among those who
registered to vote, 44% are Re-
publicans, 25% are Democrats
and 28% are nonpartisan, ac-
cording to L2 data. Texas also
has a heavier flow of newcom-
ers from blue states but a
greater share who L2 data esti-
mates are Republican.
“People do look for their
own cohorts,” said Paul West-
cott, L2’s executive vice presi-
dent. In South Carolina, he
said, “People see a lower cost
of living, lower taxes, and are
looking for that cohort that
matches their own. Maybe
they’re not thinking about it
consciously, but they are find-
ing themselves among other
conservatives there.”
The growth of Sunbelt states
has been fueled by retirees
seeking lower taxes and
warmer weather, families
searching for a lower cost of
living, and business-friendly
practices drawing in corpora-
tions.
Terry Lush, 61, and her hus-
band, John Lush, 62, moved to
Anderson, S.C., from Buffalo,
N.Y., about two years ago in
search of milder temperatures.
They were able to retire and
live comfortably by moving,
thanks to what they said was
cheaper housing and dramati-
cally lower taxes.
Terry Lush, who previously
worked for a major bank, is a
longtime Republican who will
enthusiastically vote for Trump
By Eliza Collins, Paul
Overberg and Anthony
DeBarros
Safety staff flagged misuse of subscription tools by parents.
DAVID
PAUL
MORRIS/BLOOMBERG
NEWS
Meta
Bypassed
Warnings
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7. THE WALL STREET JOURNAL. * * * * * * Saturday/Sunday, February 24 - 25, 2024 | A7
tions, and the European Union
was preparing punitive mea-
sures as well.
Cameron said any Russian
success will only embolden
America’s challengers, includ-
ing Beijing. “The Chinese are
watching this,” he said, refer-
ring to leader Xi Jinping’s de-
signs on the democratic island
of Taiwan.
Sikorski added that China is
the one country with influence
over Russia, and said he re-
cently delivered a message to
the country’s foreign minister
that “we would all be grateful
to China if China helped to
end this war.” China’s foreign
minister, Wang Yi, remained
“inscrutable,” Sikorski said.
While declining to delve
into the U.S. politics over aid,
Cameron said all countries
have their domestic politics to
consider and problems to ad-
dress. On Trump, Cameron
said the war has rallied Euro-
pean nations to raise their
commitments to the North At-
lantic Treaty Organization, a
longtime request from Trump,
who has been cool to the alli-
ance. “He likes winners, and
NATO is looking like a win-
ner,” Cameron said.
A $95 billion bill to help
U.S. allies Ukraine, Israel and
Taiwan and replenish depleted
U.S. weapons stocks hangs in
the balance.
Europe is facing a critical
moment in its support for
Ukraine if the U.S. doesn’t send
additional aid. Since Russia in-
vaded two years ago, the U.S.
has donated around 44% of all
foreign military assistance to
Ukraine, according to the Kiel
Institute research group in
Germany—equivalent to
around $44.2 billion, by the De-
fense Department’s latest tally.
Germany said late last year
it would double its military
aid to Ukraine in 2024 to €8
BY JAMES T. AREDDY
WORLD NEWS
billion, equivalent to $8.66 bil-
lion—placing it far ahead of
other European countries—
with a total €17.7 billion
pledged in arms since the war
began, second only to the U.S.,
according to the Kiel Institute.
But there have been limits.
Berlin so far hasn’t provided
powerful long-range Taurus
missiles to Kyiv, which wants
them to strike deep in Russia’s
rear.
The U.K. has often been out
ahead of allies in terms of sys-
tems it provides, becoming the
first to give Western main
battle tanks and long-range
missiles. But constrained pub-
lic finances and military
stocks make it hard for Lon-
don to increase support.
Poland has been a key
backer of Ukraine since the
start of the war, taking in ref-
ugees and providing weapons.
New Prime Minister Donald
Tusk has vocally backed the
war, calling it a fight between
good and evil, but tensions
have emerged amid protests
by Polish farmers who are
blockading the border and de-
manding tighter restrictions
on Ukrainian food imports.
“The Ukrainians are fight-
ing like lions but cannot fight
with their hands,” Sikorski
said, arguing that more mili-
tary aid is critical.
At the Journal event, the
foreign ministers recalled how
Baerbock confronted Russian
Foreign Minister Sergei Lav-
rov in Brazil during dinner for
a Group of 20 meeting re-
cently, telling him that the
whole world has suffered be-
cause of the Ukraine war.
The Russian official ap-
peared “shame faced,” Cameron
said, adding that “he mumbled
through his script about what
was happening in the world
without any confidence at all.”
European Ministers Press U.S. on Ukraine
Conflict represents
a battle between
democracies and
autocracies, they say
Residents in Dnipro, Ukraine, stood in shock after a Russian drone struck a nine-story residential building Friday.
SERHII
KOROVAYNY
FOR
THE
WALL
STREET
JOURNAL
Navalny should die in Russian
custody. “I made it clear to
him that the consequences of
that will be devastating for
Russia,” Biden said.
But officials say the U.S. has
been hobbled in its financial
war against Russia by its quest
to avoid damage to Western
economies. Fearing a rise in
energy prices, the U.S. and its
allies have avoided an all-out
embargo on Russian oil, the
Kremlin’s chief revenue source.
“We are giving huge sanc-
tions relief to Russia’s war
machine,” Rep. Andy Barr (R.,
Ky.) told senior Treasury offi-
cials before the House Finan-
cial Services Committee last
week, referring to the oil sales.
Administration officials say
the price cap on Russian oil is
working. Russian energy reve-
nues are, in fact, down from
prewar levels, but total govern-
ment revenues last year hit a
record high, according to Rus-
sian Ministry of Finance data.
Russian companies have
found workarounds for sanc-
tioned goods and services, say
current and former U.S. and
European officials. Sanctions
targeting individuals have
punished officials with lives or
property outside Russia, but
inside the country, being sanc-
tioned has been touted as a
sign of loyalty to Putin.
While Friday’s sanctions tar-
get some of those the U.S. be-
lieves responsible for Navalny’s
death, most of the entities
added to the sanction rosters
have been vetted for months,
former Treasury officials said.
The administration’s focus
in its financial war is now
mostly on filling holes in the
sanctions dragnet—exposing
networks of companies help-
ing Russia evade prohibited
trade and finance, and arm-
twisting foreign governments
to disrupt those operations
within their borders.
“We all need to acknowledge
that two years in the sanctions
regime has been more porous
than we had hoped,” Sen. Mark
Warner (D., Va.) said.
Some proponents of tougher
sanctions also call for the U.S.
to seize frozen Russian assets.
Warner said seizures involve a
“tricky legal road,” but he
hopes they might work out
since they are far more likely
to sting Moscow. Treasury has
said such seizures aren’t cur-
rently planned as the U.S. and
its allies work through the le-
gal complexities. Moscow has
threatened to retaliate with
seizures of its own.
Elaine Dezenski, a former
senior Department of Home-
land Security official, said
there is value in sanctioning
Russia’s military trade, but
suggests the U.S. and its allies
could cut in half the oil price
cap, and take more aggressive
action to disrupt the shadow
fleet of ships exporting petro-
leum outside that cap.
Allies could also transfer
Russia’s frozen foreign-cur-
rency reserves and other sover-
eign assets to Kyiv to help fund
Ukraine’s war efforts, said
Dezenski, now head of the Cen-
ter on Economic and Financial
Power at the Foundation for
Defense of Democracies, a
Washington-based think tank.
While the administration
has managed to build a coali-
tion of allies to support
Ukraine and pressure Russia
through sanctions, Ukraine’s
losses on the battlefield and
political divisions in the U.S.
over war funding have lately
overshadowed success.
detention of a Russian-Ameri-
can citizen. Unable for months
to get supplemental aid for
Ukraine through Congress,
fearful of the economic conse-
quences a full oil embargo
against Russia would unleash
in an election year, and un-
willing to risk the potential
tit-for-tat likely to result from
seizing Russian assets, the
White House is left with im-
posing yet more narrowly tar-
geted sanctions.
Some administration offi-
cials have privately played
down the potential impact of
the new measures, and indi-
cated the package focuses
mostly on eroding Moscow’s
ability to sidestep existing
sanctions. Analysts also ex-
press doubt that the latest
round will have much impact.
Critics of the U.S. sanctions
policy say it only creates an il-
lusion of decisive U.S. actions
as Ukraine’s defenses crumble.
“On the one hand, this next
turn of the crank is inevitable
because the U.S. needs to take
concrete steps to respond to
Navalny’s death,” said Charles
Kupchan, a senior fellow at the
Council on Foreign Relations.
But the package “has fallen far
short of expectations.”
When the Biden administra-
tion unveiled unprecedented
sanctions in 2022 in response
to Russia’s invasion of Ukraine,
officials predicted a devastat-
ing impact. Russia’s economy
initially contracted as exports
plummeted and the country
struggled to get the financing,
goods and services it needed to
run. But by the end of last year,
the economy was expanding
again, slowly, and Russia sig-
naled it was ready for a long
war of attrition in Ukraine.
The U.S. has levied several
rounds of sanctions on Russia
related to Navalny since ac-
cusing the Kremlin of trying
to assassinate him by poison-
ing in 2020. In June 2021, af-
ter meeting with Russian
President Vladimir Putin at a
summit in Geneva, Biden was
asked what would happen if
ContinuedfromPageOne
NEW YORK—European for-
eign ministers warned that
the outcome of the Ukraine
war is critical to American
strategic and security inter-
ests as Russia presses its of-
fensive and U.S. military assis-
tance is hung up in Congress.
On the eve of the second
anniversary of Russia’s inva-
sion of Ukraine, U.K. Foreign
Secretary David Cameron, Pol-
ish Foreign Minister Radosław
Sikorski and German Foreign
Minister Annalena Baerbock
said that U.S. support is essen-
tial in a conflict that reflects a
broader fight between liberal
democracies and autocracies.
“American security and the
future of American security is
very much on the line,” Cam-
eron said Friday at an event
hosted by The Wall Street
Journal in New York, on the
sidelines of a special United
Nations plenary session dedi-
cated to Ukraine.
The war has left a toll of
hundreds of thousands of
dead and injured and deep-
ened a political split between
Western democracies like the
U.S. and in Western Europe,
and autocracies, like Vladimir
Putin’s Russia. Washington’s
monthslong struggle to pro-
vide new aid reflects the
splintered U.S. political estab-
lishment, with President Biden
and his prospective rival Don-
ald Trump standing on oppo-
site sides of the issue.
Assembled at a university
hall in Midtown Manhattan,
the officials said values held
by the U.S. and American
credibility are on the line in
the European battlefield.
If Putin’s aggression isn’t
stopped, “this will touch every
state in the United States,”
Baerbock said. “We’re in a sit-
uation of a fight between lib-
eral democracies and autocra-
cies” that want to destroy the
liberal world order, she said.
Ukraine’s front line has
been under intense pressure
for months. Russian troops
captured the eastern city of
Avdiivka last weekend after a
Ukrainian withdrawal. Ukrai-
nian soldiers said that a se-
vere lack of artillery shells has
hampered efforts to hold back
Russian invaders.
“This happened in large
part because Ukraine is run-
ning out of weapons due to
congressional inaction,” Jake
Sullivan, national security ad-
viser to President Biden,
warned in a briefing this
week. “And Ukrainian troops
didn’t have the supplies and
ammunition they needed to
stop the Russian advance.”
Speaking from Ukraine on
Friday, Senate Majority Leader
Chuck Schumer (D., N.Y.) made
the same point: “If we don’t
get it over the finish line, it
says to Putin, ‘You’re going to
win, stick with it, and Ukraine
will be abandoned,’ ” he said
by telephone.
Poland’s Sikorski said the
U.S. support so far, some 3%
or 4% of the U.S. defense bud-
get, has been a “good value”
for America that has allowed
Ukraine to destroy half of Rus-
sia’s military. “It’s a good deal
for the United States,” he said.
Biden has publicly blamed
Putin for the death in Russian
custody of dissident Alexei
Navalny. On Friday, the White
House announced a bevy of
new sanctions in response to
Navalny’s death, and to mark
the war’s anniversary.
The 600 new targets are
designed to hit major financial
institutions, government offi-
cials, business executives,
shipping companies and man-
ufacturers. The U.K. this week
announced its own new sanc-
A Navalny tribute outside the Russian Embassy in Washington.
Symbolic
Sanctions
On Russia
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8. A8 | Saturday/Sunday, February 24 - 25, 2024 * * * * THE WALL STREET JOURNAL.
WORLD NEWS
GAME TIME: Children played Friday among hundreds of giant bamboo cones that are used
to protect and keep dry recently harvested rice in Brahmanbaria, Bangladesh.
JOY
SAHA/ZUMA
PRESS
SEOUL—At a hospital just
outside Seoul, Kim Jung-geun,
an internal medicine resident,
wrapped up a recent 34-hour
shift, downed a coffee and
crashed. He hasn’t gone back
to work since.
Kim isn’t switching careers.
He is on the front lines of a
spectacular showdown be-
tween South Korea’s govern-
ment and the country’s physi-
cians over attempts to reverse
one of the industrialized
world’s worst doctor shortages.
Government officials plan
to expand the ranks of medi-
cal school students starting
next year. That has drawn the
ire of doctors, who argue what
they need first is better work-
ing conditions and higher
pay—not more competition.
“It would make more sense
if the government pursued ex-
panding medical school ad-
mission after improving work-
ing conditions,” said Kim, 31
years old.
Since Tuesday, Kim along
with thousands of other young
South Korean doctors have
submitted resignation letters
and walked off the job. Only
about one-fifth of the nation’s
roughly 13,000 medical resi-
dents are left working, the
country’s health ministry said.
The Korean Medical Associa-
tion, the country’s largest phy-
sicians group, is holding a vote
March 3 on whether practicing
doctors will also take action.
The work stoppages have
already proved disruptive. On
Friday, South Korea declared
in effect a healthcare emer-
gency, raising its alert level to
the highest threshold. Tele-
medicine can be practiced na-
tionally for now. Some of the
country’s biggest hospitals
have pared back surgeries by
half. Military hospitals have
been opened to civilians.
Nearly 200 individuals have
lodged complaints to the gov-
ernment about the abrupt
walkout. In an online platform
for cancer patients, one user
said their surgery had been
canceled. An elderly man, who
had been rushed to the emer-
gency room for necrosis, had
to be transported to a hospital
about 80 miles away, local me-
dia reported.
The country’s young doc-
tors “who are key players in
future medicine should not
take collective action by taking
the people’s lives and health
hostage,” South Korean Presi-
dent Yoon Suk Yeol said dur-
ing a recent cabinet meeting.
South Korea’s government
has threatened to arrest and
revoke the licenses of young
doctors who have effectively
Doctor Shortage
Prompts Walkouts
In South Korea
gone on strike, citing medical
laws that ban essential work-
ers from leaving their posts.
“Why are we being treated
as the villains after dedicating
our time and energy into sav-
ing people?” Kim said. “We’re
scared, too, that the rapport
with patients will be ruined.”
The blowback in South Ko-
rea shows the challenges and
risks governments can face
when undertaking changes to
their medical system. In the
past year, doctors or medical
residents have gone on strike
in the U.K., Germany and in
New York City’s borough of
Queens. But South Korea faces
a particularly acute problem:
It has a rapidly aging popula-
tion and a low number of phy-
sicians.
Only Mexico has fewer doc-
tors relative to the population
among Organization for Eco-
nomic Cooperation and Devel-
opment members. South Korea
also has universal healthcare,
with low out-of-pocket costs,
leading Koreans to visit the
doctor’s office more than citi-
zens in any other advanced
nation—more than two times
the OECD average.
South Korea has about
140,000 doctors. Within the
next decade or so, the country
is projected to have a shortfall
of 15,000 physicians, accord-
ing to government estimates.
The most controversial
facet of the Yoon administra-
tion’s solution was to sharply
boost the incoming ranks of
medical students. The quota,
which currently stands at
roughly 3,000 medical stu-
dents a year, will rise to 5,000
applicants starting next year.
As a part of the overhaul,
South Korea would also in-
crease medical costs at hospi-
tals outside the Seoul metro-
politan area—where roughly
half of the country’s 52 million
people live—and for in-de-
mand fields, such as pediatrics
and gynecology. Rural hospi-
tals would be improved, too.
The Korean Medical Associ-
ation argues there are already
enough doctors, given the
country’s declining birthrate—
the lowest in the world. The
organization says boosting the
number of doctors will de-
grade the quality of medical
care and intensify competition
at the top hospitals where
there are limited spots for
specialized fields. They also
want more legal protections
for medical malpractice.
“Doctors are quitting be-
cause of legal threats and the
lack of adequate compensation
despite harsh working condi-
tions,” said Joo Su-ho, a
spokesman for the Korean
Medical Association.
BY DASL YOON
WORLDWATCH SPAIN
Apartment Fire
Death Toll Hits 9
The death toll in a fire
that engulfed an apartment
block in the Spanish city of
Valencia rose Friday to nine
as questions were raised
about whether construction
materials caused the fire to
spread so rapidly.
One person remained
missing, forensic police said.
The fire started Thursday
and quickly engulfed the two
residential buildings. Neigh-
bors described seeing the
rapid spread of the blaze, res-
idents stuck on balconies and
hearing children screaming.
“I have no words to de-
scribe the suffering of those
poor people,” said Sara Plaza.
Alejandra Alarcón said it
took 15 minutes for the fire
to engulf an entire building,
as questions abounded as to
how the fire spread so rap-
idly. —Associated Press
AUSTRIA
Ex-Leader Given
Suspended Term
Former Austrian Chancel-
lor Sebastian Kurz was con-
victed Friday of making false
statements to a parliamen-
tary inquiry into alleged cor-
ruption in his government. He
was given an eight-month
suspended sentence.
The verdict in Vienna fol-
lowed a four-month trial. The
case marked the first time in
more than 30 years that a for-
mer chancellor had stood trial.
Prosecutors accused him
of having given false evi-
dence in 2020, regarding his
role in the setting up of a
holding company, OeBAG,
which administers the state’s
role in some companies.
Judge Michael Radasztics
found Kurz guilty of making
false statements about the
appointment of the com-
pany’s supervisory board.
—Associated Press
AFGHANISTAN
Public Execution
Held for Two Men
Afghanistan’s ruling Tali-
ban carried out a double pub-
lic execution Thursday at a
stadium in the country’s
southeast, where relatives of
the victims of stabbing
deaths fired guns at two con-
victed men while thousands
of people watched.
The Taliban’s Supreme
Court ruled that the two men
were responsible for the
stabbing deaths of two vic-
tims in separate attacks, ac-
cording to a court statement.
It identified the two as Syed
Jamal from central Wardak
province and Gul Khan from
Ghazni—though it was un-
clear who carried out the
stabbings, the two convicted
men or others.
On Thursday, people
crowded outside the stadium
in Ghazni, clambering to get in.
—Associated Press
TEL AVIV—Israeli Prime
Minister Benjamin Netan-
yahu outlined a blueprint
for postwar Gaza that calls for
it to be administered by local
Palestinian officials free of
links to militant groups and
for Israel to conduct security
operations in the strip indefi-
nitely.
Most of the ideas have been
publicly discussed by Netan-
yahu and other Israeli officials
before, and, though few new
details were provided, the
blueprint appears at odds in
significant ways with
both U.S. plans and those
of Arab governments in the
region. It was presented for
the first time to Israel’s secu-
rity cabinet Thursday night.
Taken together, Netan-
yahu’s ideas describe a demili-
tarized Gaza that would face a
continued heavy Israeli secu-
rity presence after combat op-
erations end, with a buffer
zone off limits to Palestin-
ians along Gaza’s perimeter
and Israeli control of
the Egypt-Gaza border that
would seek to seal off the
strip in the south.
The plan underscores the
wide gap between Netanyahu’s
government and the Biden ad-
ministration, which has
backed Israel’s war goals in
Gaza but warned repeatedly
against making changes in its
territorial boundaries. Its lack
of specificity also leaves open
the possibility that Netanyahu
will move closer to Washing-
ton on key issues if Israel
achieves its initial goals of de-
feating Hamas and bringing
home an estimated 130 hos-
tages.
“Israel will maintain opera-
tional freedom of action in the
entire Gaza Strip, without a
time limit, for the purpose of
preventing the renewal of ter-
rorism and thwarting threats
from Gaza,” the document
says, adding that Israel in-
tends to continue the war un-
til Hamas and other militant
groups are defeated in Gaza.
There are signs of growing
tensions between Israel and
the White House. Secretary of
State Antony Blinken said an
Israeli announcement this
week that it intends to build
new housing in the occupied
West Bank “is inconsistent
with international law.”
It was a shift back to a
four-decade-old formulation
for the U.S. The Trump admin-
istration said in 2020 that it
no longer viewed Israeli set-
tlement building in the West
Bank as a violation of interna-
tional law.
“Our administration main-
tains a firm opposition to set-
tlement expansion, and in our
judgment this only weakens,
doesn’t strengthen, Israel’s se-
curity,” Blinken said at a news
conference in Buenos Aires.
Netanyahu has said that Is-
rael has no interest in occupy-
ing Gaza once the combat
phase of the war is over, but
he is under political pressure
from far-right members of his
government. Some have called
for ejecting Palestinian resi-
dents from the strip and for
re-establishing Israeli settle-
ments there.
The Israeli prime minister
presented the blueprint to his
security cabinet ahead of a
crucial meeting in Paris
among intelligence chiefs from
Israel, Egypt and the U.S., and
the prime minister of Qatar.
The officials are racing to ne-
gotiate a deal that would im-
plement a cease-fire in Gaza
and free Israeli hostages held
by Hamas in exchange for Pal-
estinian prisoners.
Israeli officials have set a
deadline of the start of the
Muslim holy month of Rama-
dan on March 10 for Hamas to
release hostages the group
seized during the Oct. 7 at-
tack, or else Israel will launch
a military operation in Rafah
in the southern Gaza Strip,
where more than a million
Palestinian civilians are shel-
tering.
The meeting in Paris on
Friday came after Israeli offi-
cials said there was a chance
of progress in the talks. Egyp-
tian officials said Thursday
that Hamas had indicated po-
tential flexibility in its de-
mands for the release of Pal-
estinian prisoners in return
for Israeli hostages.
Saudi Arabia has said that
agreement on a renewed dip-
lomatic pathway toward a Pal-
estinian state is a key precon-
dition before it would agree to
seriously consider postwar
plans, including possible dip-
lomatic normalization with Is-
rael. But the blueprint offers
little indication Netanyahu is
prepared to move ahead with
talks on a Palestinian state in
Gaza and the West Bank soon.
The plan doesn’t mention a
role for the Palestinian Au-
thority, which currently gov-
erns the West Bank. It says,
“civil administration and re-
sponsibility for public order in
the Gaza Strip will be based as
much as possible on local offi-
cials” and “will not be identi-
fied with countries or entities
that support terrorism.”
Israeli officials say they are
exploring whether they can
establish interim government
bodies headed by residents
not linked to Hamas who
would assume responsibility
for distributing aid and other
limited functions in small ar-
eas of Gaza.
Hamas, the U.S.-designated
terror group that ran Gaza
and whose deadly attacks in
southern Israel on Oct. 7
sparked the war, received fi-
nancial backing from Qatar
and weapons and other assis-
tance from Iran. Hamas took
over Gaza in 2007, ejecting the
Palestinian Authority. Netan-
yahu and other Israeli officials
also accuse the Palestinian
Authority of inciting terror-
ism.
The Palestinian Authority’s
foreign ministry called the re-
lease of the Netanyahu plan
“official recognition of the re-
occupation of the Gaza Strip
and the imposition of Israeli
control over it.”
The blueprint says recon-
struction of the shattered
strip would be possible only
after the defeat of Hamas and
“a comprehensive deradical-
ization program” involving as-
sistance from Arab countries,
which have so far shown little
interest in helping Israel in
Gaza.
The Biden administration
has been pushing its own
postwar plan, built around
giving a governing role in
Gaza to the Palestinian Au-
thority once it agrees to bring
in new leadership, retrain se-
curity forces and address cor-
ruption. Netanyahu has pub-
licly rejected turning over
Gaza to the Palestinian Au-
thority, though he has left
open the possibility he could
accept its revamped version.
In the Biden administra-
tion’s thinking, a return of the
Palestinian Authority to Gaza
would lay the groundwork for
more sweeping long-term
changes in the region. Key fea-
tures of Washington’s propos-
als include a revived process
to create a Palestinian state,
security guarantees for Israel
and the normalization of
Saudi-Israeli relations.
U.S. officials are hopeful
the prize of Saudi recognition
of Israel will help move Netan-
yahu closer to their own post-
war blueprint.
—Jared Malsin
and Vivian Salama
contributed to this article.
BY DAVID S. CLOUD
AND ANAT PELED
Israel Outlines a Postwar Plan;
Palestinians Call It Occupation
Palestinians injured by an Israeli airstrike on a residential building in Deir Al-Balah, central Gaza, sought medical care.
MAJDI
FATHI/NUR
PHOTO/ZUMA
PRESS
(2)
Resident Kim Jung-geun is among those protesting conditions.
JEAN
CHUNG
FOR
THE
WALL
STREET
JOURNAL
Palestinians stood amid the rubble in Deir Al-Balah, Gaza.