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Former NFL great Tom Brady selling watches, football items at auctionHistory will — or at least should — see a $165 billion error in revenue estimates as one of California’s most boneheaded political acts. It happened in 2022, as the state was emerging from the effects of the COVID-19 pandemic. Gov. Gavin Newsom’s Department of Finance, based on one short-term spike in income taxes, projected that revenues from the state’s three largest sources would remain above $200 billion a year indefinitely. Newsom then declared that the budget had a $97.5 billion surplus , although that number never appeared in any documents. “No other state in American history has ever experienced a surplus as large as this,” Newsom bragged as he unveiled a 2022-23 fiscal year budget that topped $300 billion. With that in mind, he and the Legislature adopted a budget with billions in new spending, most notably on health and welfare programs and cash payments to poor families. Within a few weeks, Newsom and legislators learned that real revenues were falling well short of the rosy projections. But the damage, in terms of expanded spending, was done. Two years later, buried in its fine print, the deficit-ridden 2024-25 budget acknowledged that sales taxes and personal and corporate income tax revenues would fall well short of the $200 billion a year projection, estimating a $165.1 billion shortfall over four years. The past two years have seen budgets with deficits papered over with direct and indirect borrowing, tapped emergency reserves, vague assumptions of future spending cuts, and accounting gimmicks. For instance, the current budget “saves” several billion dollars by counting next June’s state payroll as an expenditure in the following fiscal year. This bit of fiscal history is important to remember because the twin 2022 acts of overestimating revenues and overspending billions of nonexistent dollars on new and expanded services continues to haunt the state, as a new analysis indicates. The Legislature’s budget analyst, Gabe Petek, unveiled his office’s annual overview of the state’s finances Wednesday and it wasn’t a pretty picture. There’s been a recent uptick in personal income tax revenues thanks to wealthy investors’ stock market gains , some stemming from Donald Trump’s presidential victory. However, Petek said, government spending — much of it dating from 2022’s phony surplus — is continuing to outpace revenues from “a sluggish economy,” creating operating deficits. “Outside of government and health care, the state has added no jobs in a year and a half,” the analysis declares. “Similarly, the number of Californians who are unemployed is 25% higher than during the strong labor markets of 2019 and 2022. Consumer spending (measured by inflation‐adjusted retail sales and taxable sales) has continued to decline throughout 2024.” Meanwhile, it continues, “one reason the state faces operating deficits is growth in spending. Our estimate of annual total spending growth across the forecast period — from 2025‐26 to 2028‐29 — is 5.8% (6.3% excluding K‐14 education). By historical standards, this is high.” Petek’s grim outlook coupled with the more conservative bent of voters , as shown in this month’s election, present a political dilemma for a governor and a Legislature oriented toward expanding government. Assembly Speaker Robert Rivas , reacting to the analysis in a statement, indicated that he’s gotten the message. “We need to show restraint with this year’s budget, because California must be prepared for any challenges, including ones from Washington,” Rivas said. “It’s not a moment for expanding programs, but for protecting and preserving services that truly benefit all Californians.” Newsom will propose a 2025-26 budget in January, but no matter what he and the Legislature decide, the structural budget deficit will still be there when he exits the governorship in 2027. It will be part of his legacy. — CalMatters is a public interest journalism venture committed to explaining how California’s state Capitol works and why it matters. For more stories by Dan Walters, go to Commentary .Inter and Atalanta are the best Serie A clubs in the Champions League, as they are both in the top 8 after Round 5. The Champions League Round 5 is in the history books, and two Italian clubs are in the top five. Inter sit second with 13 points, just two points below Premier League giants Liverpool. Atalanta sit 5th with 11, one more than Lille, Brest, Sporting CP, Aston Villa, Monaco, Arsenal and Bayer Leverkusen. Milan have eight points in 16th, while Juventus have eight points and sit 19th in the Champions League table. Their next opponent is Manchester City, who they’ll meet in Turin on December 11. Bologna are close to the bottom of the table with just one point in five games. Only RB Leipzig, Slovan Bratislava, and Young Boys have zero points and five consecutive losses. As things stand, Inter and Atalanta would qualify for the Round of 16, Milan and Juve would be in the knockout round play-offs, and Bologna would be eliminated. Liverpool are the first team to confirm their place in the round of 16 or knockout phase play-offs ⚽ — UEFA Champions League (@ChampionsLeague)
Winston's performance in snowy win over Steelers adds new layer to Browns' quarterback conundrumHere are the high school players who have verbally committed to the Gophers football team and are expected to sign with the program during Wednesday’s opener of the early signing period. Players are listed by ranking according to 247Sports.com composite ratings of major recruiting services: Emmanuel Karmo, Edge rusher, Robbinsdale Cooper High School 6-31⁄2 , 222 pounds, four stars • The top-ranked recruit in Minnesota , Karmo is the No. 38-ranked linebacker nationally in the 247Sports composite of major recruiting services. The versatile player lined up all over the field for the Hawks. Amassed 64 tackles, six tackles for loss, two sacks and one interception in 10 games this season. Michigan showed late interest in Karmo, while Nebraska, Ohio State, Oregon, Penn State and USC were among programs that offered him a scholarship. Jackson Kollock, QB, Laguna Beach (Calif.) High School 6-31⁄2 , 225 pounds, four stars • Three-year prep starter passed for 1,711 yards and 21 TDs with seven interceptions as a senior in leading team to 10-2 record. Also rushed for 315 yards and eight TDs. Originally committed to Washington in 2023 before flipping to Gophers last March. His other offers included California, Colorado and Oregon State, among others. Jayquan Stubbs, DL, Cleveland Heights (Ohio) High School 6-6, 249, three stars • A standout basketball player, Stubbs has the footwork and agility that will serve him well on the defensive line. Coached by former Gopher Mac Stephens, Stubbs is the 16th-ranked player in Ohio and the 55th-ranked defensive lineman nationally by 247Sports. Purdue and West Virginia were the Gophers’ main competition for Stubbs. Ethan Stendel, LB, Caledonia (Minn.) High School 6-3, 215, three stars • Second-ranked player in Minnesota by 247Sports and 71st-ranke linebacker nationally. The versatile Stendel played quarterback and linebacker for Caledonia, passing for 1,246 yards and 11 TDs, and making 57 tackles, intercepting three passes and forcing two fumbles. North Dakota and Northern Iowa also had interest in Stendel. Shane Marshall, RB, Irwin County High School, Ocilla, Ga. 5-11, 200, three stars • Productive back has rushed for 1,817 yards and 28 touchdowns in 13 games for Irwin County. Ran for 200 yards in the state quarterfinals on Friday, helping his team advance. Originally committed to South Florida before switching to the Gophers in June. Houston and Georgia Tech also had strong interest in Marshall. Bradley Martino, WR, First Baptist Academy, Naples, Fla. 6-3, 175, three stars • Lanky wideout caught 46 passes for 896 yards and 15 TDs this season, and played cornerback, with three pass breakups and an interception. Originally committed to Toledo, Martino switched to the Gophers in June. and also received offers from Louisville and Mississippi State. Naiim Parish, CB, Bergen Catholic High School, Oradell, N.J. 5-11, 165, three stars • Speedy cornerback had five interceptions, four pass breakups and 33 tackles this season. 247Sports rates him as the 21st-best player in New Jersey and 52nd-best athlete nationally. Wisconsin, Georgia Tech, Tennessee, Arizona State and Michigan State were among his offers. Enoch Atewogbola, Edge, Avon (Ind.) High School 6-4, 215, three stars • Late bloomer received a bump in rating this week after collecting 58 tackles, 11 tackles for loss, seven sacks and eight pass breakups this season. Boston College and Western Michigan. Ranked No. 76 nationally in edge rushers. Abu Tarawallie, DL, Providence Academy, Plymouth 6-3, 275, three stars • Tarawallie is the third-ranked player in Minnesota and the 84th-ranked defensive lineman nationally and recently received a ratings bump by 247Sports. Had 35 tackles, 71⁄2 tackles for loss and 41⁄2 sacks in 10 games this season. Wisconsin, Kansas State and Oklahoma were among others offering him a scholarship. Mark Handy, OL, La Cueva High School, Albuquerque, N.M. 6-51⁄2, 310, three stars • The third-ranked player in New Mexico and 64th-ranked interior offensive lineman nationally made official visits to California, Utah and Duke before settling on the Gophers. Also was the undefeated Class 5A heavyweight wrestling champion as a junior last season. Grant Grayton, S, Our Lady of Good Counsel High School, Olney, Md. 6-2, 185, three stars • Impressed coaches during a Gophers camp and accepted offer three days later. Coming from the same high school that produced former Gophers running back Mohamed Ibrahim, Grayton is the 33rd-rated recruit in Maryland and 77th-ranked safety nationally. Nick Spence, OL, Liberty High School, Peoria, Ariz. 6-6, 280, three stars • Spence is the 14th-rated recruit in Arizona and 77th-ranked interior offensive lineman nationally. Duke and Iowa State were the other top suitors for Spence, who committed to the Gophers on his official visit in June. Kaveon Lee, Plainfield (Ill.) Central High School 6-6, 275, three stars • Lee is the latest player to commit to the Gophers, doing so on Sunday. He’s the 33rd-ranked player in Illinois and 103rd-ranked offensive tackle nationally. Purdue and Kansas State were among his other Power Four offers. Zachry Harden, CB, Newton High School, Covington, Ga. 6-2, 190, three stars • Harden is the 146th-ranked recruit in Georgia and the 124th-ranked safety nationally. Garnered offers this fall from Colorado, Missouri and Auburn after committing to the Gophers in March. Legend Lyons, WR, Charter Oak High School, Covina, Calif. 6-2, 190, three stars • Big wideout caught 55 passes for 879 yards and 12 TDs this season after having 74 catches for 950 yards and seven scores as a junior. Kansas, Utah and Arkansas also offered Lyons. Daniel Shipp, OT, Centennial High School, Corona, Calif. 6-6, 275, three stars • Under-the-radar recruit who missed the 2023 and 2022 seasons because of injuries. His diverse offers include Division II Black Hills (S.D.) State, Boise State and Fresno State. Has the frame to be a standout left tackle. Nathan Cleveland, LB, Hoffman Estates High School, River Grove, Ill. 6-1, 215, three stars • Versatile athlete who also has played safety and quarterback. He’s the 43rd-ranked player in Illinois and 162nd-ranked linebacker nationally. Rhett Hlavacka, Edge, Fond Du Lac (Wis.) High School 6-4, 235, three stars • Amassed 120 tackles, 11 tackles for loss, three sacks and three forced fumbles as a senior. Hlavacka is the 15th-ranked player in Wisconsin and 135th-ranked Edge nationally. Memphis and Northern Illinois were among his other FBS offers. Colin Hansen, DL, Byron (Minn.) High School 6-5, 230, three stars • He’s the eighth-ranked recruit in Minnesota and the 189th-rated defensive lineman nationally. Hansen’s main suitors included North Dakota State, Northern Illinois, Washington State and Northern Iowa. Grant Washington, RB, St. Ignatius High School, Cleveland 5-10, 195, three stars • Speedy back originally committed to Central Michigan in May before flipping to the Gophers in June. He’s the 80th-ranked player in Ohio and 128th-ranked running back nationally. Luke Ryerse, P, East Ridge High School, Woodbury, Minn. 6-1, 210, three stars • Ryerse, the brother of former Gophers kicker Grant Ryerse, is the 12th-ranked player in Minnesota and fourth-ranked punter nationally. Originally committed to Alabama before flipping to Minnesota, where he’ll play football and baseball. Kicked a 56-yard field goal this fall, second-longest in state history. Averaged 45.4 yards per punt. Daniel Jackson, K, Alexandria (Minn.) Area High School • Went 4-for-8 on field goals this season, including a 54-yarder. Went 60-for-60 on extra points. Picked the Gophers over North Dakota State, Army and Cornell.
Trump turns to outsider to shake up Navy, but his lack of military experience raises concernsMILWAUKEE, Wis., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) announced today that it will release its first quarter fiscal 2025 earnings after the market closes on Wednesday, December 18, 2024. Management will conduct a conference call to discuss the results on Thursday, December 19, 2024, beginning at 8:30 a.m. ET / 7:30 a.m. CT. A real-time webcast of the conference call can be accessed via the Investors section of the Company’s website here . For those who are unavailable to listen to the live broadcast, a replay will be available shortly after the call for 90 days. About Enerpac Tool Group Enerpac Tool Group Corp. is a premier industrial tools, services, technology and solutions provider serving a broad and diverse set of customers in more than 100 countries. The Company makes complex, often hazardous jobs possible safely and efficiently. Enerpac Tool Group’s businesses are global leaders in high pressure hydraulic tools, controlled force products, and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Enerpac Tool Group common stock trades on the NYSE under the symbol EPAC. For further information on Enerpac Tool Group and its businesses, visit the Company's website at www.enerpactoolgroup.com . Contact: Travis Williams Senior Director, Investor Relations 262.293.1913
Washington Nationals win lottery for No. 1 pick in next amateur baseball draft, Angels No. 2NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating: Arch Resources, Inc. (NYSE: ARCH ), relating to its proposed merger with Consol Energy, Inc. Under the terms of the agreement, all Arch Resources common stock will be automatically converted into the right to receive 1.326 shares of Consol Energy stock. ACT NOW . The Shareholder Vote is scheduled for January 9, 2025. Click here for more information https://monteverdelaw.com/case/arch-resources-inc/ . It is free and there is no cost or obligation to you. Universal Stainless & Alloy Products Inc. (Nasdaq: USAP ), relating to its proposed merger with Aperam US Absolute LLC. Under the terms of the agreement, all USAP shares will be automatically converted into the right to receive $45.00 per share. ACT NOW. The Shareholder Vote is scheduled for January 15, 2025. Click here for more information https://monteverdelaw.com/case/universal-stainless-alloy-products-inc/ . It is free and there is no cost or obligation to you. Crossfirst Bankshares, Inc. (Nasdaq: CFB ), relating to its proposed merger with First Busey Corporation. Under the terms of the agreement, Crossfirst common stock will automatically be converted into the right to receive 0.6675 shares of Busey common stock. ACT NOW . The Shareholder Vote is scheduled for December 20, 2024 . Click here for more information https://monteverdelaw.com/case/crossfirst-bankshares-inc/ . It is free and there is no cost or obligation to you. BurTech Acquisition Corp. (NASDAQ: BRKH ) , relating to the proposed merger with Blaize, Inc. Under the terms of the agreement, shares of BurTech Acquisition will be exchanged for shares of Blaize. ACT NOW. The Shareholder Vote is scheduled for December 23, 2024. Click here for more information https://monteverdelaw.com/case/burtech-acquisition-corp-brkh/ . It is free and there is no cost or obligation to you. NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask: Do you file class actions and go to Court? When was the last time you recovered money for shareholders? What cases did you recover money in and how much? About Monteverde & Associates PC Our firm litigates and has recovered money for shareholders...and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341. Contact: Juan Monteverde, Esq. MONTEVERDE & ASSOCIATES PC The Empire State Building 350 Fifth Ave. Suite 4740 New York, NY 10118 United States of America jmonteverde@monteverdelaw.com Tel: (212) 971-1341 Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC ( www.monteverdelaw.com ). Prior results do not guarantee a similar outcome with respect to any future matter.LOS ANGELES (AP) — Hannah Hidalgo scored 24 points and No. 6 Notre Dame defeated JuJu Watkins and third-ranked Southern California 74-61 on Saturday in a marquee matchup on the West Coast. Watkins and the Trojans (4-1) fell behind early and were down 21 points in the fourth quarter. She had 24 points, six rebounds and five assists. Hidalgo came out shooting well, hitting 5 of 8 from the floor in the first quarter and had 16 points at the break. She added six rebounds and eight assists. Hidalgo's backcourt mate, Olivia Miles, added 20 points, eight rebounds and seven assists for the Fighting Irish (5-0). Even though Hidalgo outshone her, Watkins’ imprint was all over the game. A documentary about her life aired on NBC leading into the nationally televised game. A buzz arose when Snoop Dogg walked in shortly before tipoff wearing a jacket in USC colors with Watkins' name and number on the front and back. Her sister, Mali, sang the national anthem. Notre Dame: The Irish struck quickly, racing to a 20-10 lead in the opening quarter. Even after cooling off a bit, they never trailed and stayed poised when the Trojans got within three in the second and third quarters. USC: The Trojans were without starting guard Kennedy Smith, whose defense on Hidalgo would have proven valuable. It was announced shortly before tipoff that she had a surgical procedure and will return at some point this season. The Trojans got within three points three times but the Irish remained poised and never gave up the lead. Notre Dame's defense forced the Trojans into 21 turnovers, which led to 22 points for the Irish. Watkins, Kaleigh Heckel and Talia von Oelhoffen had five each. USC was just 1 of 13 from 3-point range Notre Dame plays TCU on Nov. 29 in the Cayman Islands Classic. USC plays Seton Hall in the Women's Acrisure Holiday Invitational on Nov. 27 in Palm Desert, California. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP women’s college basketball: https://apnews.com/hub/ap-top-25-womens-college-basketball-poll and https://apnews.com/hub/womens-college-basketball
Letters for Dec. 11: US economy may be thriving, but it didn’t resonate with votersKey Logic Nodes Market Trend 2024-2033: Advanced Semiconductor TechnologyMexico’s year in review: The 10 biggest business and economics stories of 2024
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