NYT Strands today — hints, spangram and answers for game #280 (Sunday, December 8 2024)The clean-up effort along the Santa Cruz coastline continued Friday, days after part of the Santa Cruz Wharf collapsed due to pounding high surf as city officials try to assess what their plans might be to rebuild the collapsed section. The Santa Cruz Wharf collapse happened at around 12:45 p.m. Monday afternoon, city officials confirmed. The section of the wharf that collapsed included the Dolphin restaurant and one of the public bathrooms on the wharf. Santa Cruz Fire officials said two people needed assistance being pulled from the water by life guards and a third person was able to get out of the surf on their own without help. Santa Cruz Mayor Fred Keely later confirmed the individuals who went into the water were city personnel who were assessing the integrity of the section of the pier that fell into the ocean. The Santa Cruz Wharf has been closed to the public since the collapse, as have many of the area beaches due to the dangers presented by debris in the water. Officials with the Santa Cruz Wharf posted on social media Friday morning that city workers would be active in the area by the river mouth of the San Lorenzo River as crews work to remove the wharf bathroom that washed ashore during Monday's storm. The public was being asked to obey the beach closure and stay clear of the area. "This beach is closed for your safety," the post read. "The community's safety is our priority, and we need you to give city staff the space to clear this debris safely." Local officials are facing some tough questions about the future of the structure that draws upwards of two billion visitors each year. When asked about plans to rebuild the 150-foot section that broke off in Monday's storm during a press conference Friday, the city's mayor acknowledged that remains an open question given the growing risks posed by climate change. "We'd be irresponsible if we didn't ask the question what is the right thing to do here," said Santa Cruz Mayor Fred Keely. "But to say we're simply going to put it back is I think frankly much more risky and irresponsible than having a very serious conversation." The end of the wharf had already been closed for repairs after sustaining damage during the potent bomb cyclone storm of January 2023 that caused extensive destruction in Santa Cruz, Capitola and other coastal towns. City officials did not offer a time frame for when the wharf may be re-opened, but did say the city is working with the 20 or so businesses that have been impacted by the ongoing closure.
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Police arrested a 26-year-old man on Monday in the Manhattan killing of UnitedHealthcare’s CEO after they say a Pennsylvania McDonald's worker alerted authorities to a customer who resembled the suspected gunman. The suspect, identified by police as Luigi Nicholas Mangione, had a gun believed to be the one used in Wednesday’s attack on Brian Thompson , as well as writings expressing anger at corporate America, police said. Here are some of the latest developments in the ongoing investigation: Where was the man captured? Mangione was taken into custody at around 9:15 a.m. after police received a tip that he was eating at a McDonald’s in Altoona, Pennsylvania, about 85 miles (137 kilometers) east of Pittsburgh, police said. Mangione was being held in Pennsylvania on gun charges and will eventually be extradited to New York to face charges in connection with Thompson’s death, said NYPD Chief of Detectives Joseph Kenny. What evidence did police find? In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” Kenny said Mangione also had a ghost gun , a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said at a news conference. Officers also found a suppressor, “consistent with the weapon used in the murder,” the commissioner said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, Tisch said. What do we know about Mangione? Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu, Hawaii. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. Some of the city’s wealthiest and most prominent people, including Orioles legend Cal Ripken Jr., have had children attend the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things,” according to a post on the school website. He praised their collective inventiveness and pioneering mindset. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. A swarm of reporters and photographers gathered outside the entrance. Luigi Mangione is one of 37 grandchildren of Nick Mangione, according to his obituary. Luigi Mangione's grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes ranging from Catholic organizations to colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione. A spokesman for the lawmaker's office confirmed the relationship Monday. The shooting and a quick escape Police said the person who killed Thompson left a hostel on Manhattan's Upper West Side at 5:41 a.m. on Wednesday. Just 11 minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at around 7:30 a.m. From there, the trail of video evidence runs cold. Police have not located video of the suspected shooter exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “This just happened this morning," Kenny said. "We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Associated Press reporters Lea Skene in Baltimore and Cedar Attanasio in New York contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. The business news you need Get the latest local business news delivered FREE to your inbox weekly.Chandigarh: A seminar focused on Punjab’s role in nation-building and its contribution to Indian Army was conducted at Chandimandir military station. The aim was to address contemporary challenges such as drug abuse, socio-economic development, and talent migration in Punjab. The seminar brought together panelists and subject experts from civil administration, Army (serving and veterans), Narcotics Control Bureau and others from civil society. Lt Gen Manoj Kumar Katiyar, GOC-in-C, Western Command, highlighted the role of Punjab youth in bringing about the rejuvenation of society and the nation. Complimenting panelists for their insights and suggestions, he urged everyone to contribute to society and nation sincerely. Discussions emphasized on economic distress afflicting the state, socio-economic impact of substance abuse including its effects on national security and the role of society in curbing this menace. The panel also discussed the impact of these challenges on recruitment in the Indian Army. tnn We also published the following articles recently Women stepping towards nation-building today: UoM registrar University of Mysore registrar VR Shylaja inaugurated the Bharat Bhagya Vidhata program commemorating Ambedkar's 68th Mahaparinirvan Day. Shylaja highlighted Ambedkar's pivotal role in empowering women through legal rights and emphasized his focus on women's freedom and literacy. She attributed women's current achievements to the foundation laid by Ambedkar, who championed equality for women and the upliftment of the economically disadvantaged. Governance reforms & role of civil servants key to build Viksit Bharat V Srinivas, Secretary to the Government of India, emphasized the need for civil servants to continuously upskill to improve governance. Speaking at ASCI's 68th Foundation Day Lecture, he highlighted the Viksit Bharat initiative's focus on key governance areas, including efficient grievance redressal and competency models. Kerala CM meets Gadkari to discuss National Highway development Kerala CM Pinarayi Vijayan and Union Minister Nitin Gadkari discussed crucial highway projects in Kerala, including the six-lane NH 66 upgrade. Progress on NH 66 is reviewed weekly, with anticipated completion by December 2025. Kerala's innovative funding for land acquisition was highlighted. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .Deep-pocketed investors have adopted a bearish approach towards NVIDIA NVDA , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NVDA usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 279 extraordinary options activities for NVIDIA. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 43% leaning bullish and 46% bearish. Among these notable options, 26 are puts, totaling $1,945,197, and 253 are calls, amounting to $19,205,178. Projected Price Targets Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $104.0 to $191.0 for NVIDIA during the past quarter. Analyzing Volume & Open Interest Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in NVIDIA's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to NVIDIA's substantial trades, within a strike price spectrum from $104.0 to $191.0 over the preceding 30 days. NVIDIA Option Volume And Open Interest Over Last 30 Days Noteworthy Options Activity: Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume NVDA CALL SWEEP BULLISH 12/27/24 $1.37 $1.36 $1.37 $142.00 $239.0K 33.8K 88.7K NVDA CALL SWEEP BULLISH 12/27/24 $1.38 $1.36 $1.37 $142.00 $164.2K 33.8K 85.6K NVDA CALL TRADE BEARISH 12/27/24 $1.04 $1.03 $1.03 $142.00 $144.5K 33.8K 68.8K NVDA CALL SWEEP BULLISH 12/27/24 $1.07 $1.06 $1.07 $142.00 $128.6K 33.8K 79.4K NVDA CALL SWEEP BEARISH 12/27/24 $1.41 $1.4 $1.4 $142.00 $128.3K 33.8K 94.4K About NVIDIA Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads. Following our analysis of the options activities associated with NVIDIA, we pivot to a closer look at the company's own performance. Current Position of NVIDIA Currently trading with a volume of 56,542,252, the NVDA's price is up by 1.1%, now at $141.21. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 64 days. Turn $1000 into $1270 in just 20 days? 20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access . Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest NVIDIA options trades with real-time alerts from Benzinga Pro . © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Syrian rebels announced on Sunday that they have gained full control over the crucial city of Homs after a day of fierce fighting. This victory significantly threatens President Bashar al-Assad's 24-year rule, as insurgents advance towards the capital, Damascus. After the army's withdrawal, thousands of Homs' residents took to the streets in celebration, dismantling symbols of Assad's regime. The fall of Homs grants rebels critical control over Syria's strategic heartland, cutting off Damascus from the Alawite-dominated coast where Assad's key allies have military bases. The capture of Homs represents a powerful resurgence for the rebel movement. The capture of Homs poses an immediate threat to Assad's control and regional stability, as foreign officials warn of the Syrian government's potential collapse. (With inputs from agencies.)
Jensen Huang, the chief executive of Nvidia, is the 10th-richest person in the United States, worth $US127 billion ($198.6 billion). In theory, when he dies, his estate should pay 40 per cent of his net worth to the government in taxes. But Huang, 61, is not only an engineering genius and Silicon Valley icon whose company, the world’s second-most valuable, makes the chips that power much artificial intelligence. He is also the beneficiary of a series of tax dodges that will enable him to pass on much of his fortune tax-free, according to securities and tax filings reviewed by The New York Times . His family’s savings are on pace to be roughly $US8 billion ($12.5 billion). This likely ranks among the largest tax dodges in the United States. Nvidia’s Jensen Huang at the Dreamforce conference in San Francisco. Credit: Bloomberg The types of strategies Huang has deployed to shield his wealth have become ubiquitous among the ultrawealthy. It is just one sign of how the estate tax – imposed on a sliver of the country’s multimillionaires – has been eviscerated. Revenue from the tax has barely changed since 2000, even as the wealth of the richest Americans has roughly quadrupled. If the estate tax had kept pace, it would have raised around $US120 billion ($187 billion) last year. Instead, it brought in about a quarter of that. The story of Huang’s tax avoidance is a case study of how the ultrarich bend the US tax system for their benefit. His strategies were not explicitly authorised by Congress. Instead, they were cooked up by creative lawyers who have exploited a combination of obscure federal regulations, narrow findings by courts, and rulings that the IRS issues in individual cases that then served as models for future tax shelters. ‘Don’t expect anyone in Congress to stop this’ “You have an army of well-trained, brilliant people who sit there all day long, charging $US1,000 an hour, thinking up ways to beat this tax,” said Jack Bogdanski, a professor at Lewis & Clark Law School and the author of a widely cited treatise on the estate tax. “Don’t expect anyone in Congress to stop this.” The richest Americans can pass down approximately $US200 billion ($312 billion) each year without paying estate tax on it, thanks to the use of complex trusts and other avoidance strategies, estimated Daniel Hemel, a tax law professor at New York University. Enforcement of the rules governing the estate tax has eased in part because the IRS has been decimated by years of budget cuts. In the early 1990s, the agency audited more than 20 per cent of all estate tax returns. By 2020, the rate had fallen to about 3 per cent. Newly elected Senate majority leader John Thune. Credit: AP The trend is likely to accelerate with Republicans controlling both the White House and Capitol Hill. They are already slashing funding for law enforcement by the IRS. The incoming Senate majority leader, John Thune, and other congressional Republicans for years have been trying to kill the estate tax, branding it as a penalty on family farms and small businesses. Yet, Huang’s multibillion-dollar manoeuvre – detailed in the fine print of his filings with the Securities and Exchange Commission and his foundation’s disclosures to the IRS - shows the extent to which the estate tax has already been hollowed out. An Nvidia spokesperson, Stephanie Matthew, declined to discuss details of the Huangs’ tax strategies. The United States adopted the modern estate tax in 1916. In recent decades, congressional Republicans have successfully watered it down, cutting the rate and increasing the amount that is exempt from the tax. Today, a married couple can pass on about $US27 million ($42 million) tax-free; anything more than that is generally supposed to be taxed at a 40 pr cent rate. Can you dig it? In 2012, Huang and his wife, Lori, took one of their first steps to shield their fortune from the estate tax. They set up a financial vehicle known as an irrevocable trust and moved 584,000 Nvidia shares into it, according to a securities disclosure Huang filed. The shares were worth about $US7 million ($11 million) at the time, but they would eventually generate tax savings many times greater. The Huangs were taking advantage of a precedent set nearly two decades earlier, in 1995, when the IRS blessed a transaction that tax professionals affectionately nicknamed “I Dig It.” (The moniker was a play on the name of the type of financial vehicle involved: an intentionally defective grantor trust.) One of the beauties of I Dig It was that it had the potential to largely circumvent not only the estate tax but also the federal gift tax. That tax applies to assets that multimillionaires give to their heirs while they’re alive and essentially serves as a backstop to the estate tax; otherwise, rich people could give away all their money before they die in order to avoid the estate tax. Loading In Huang’s case, the details in securities filings are limited. But multiple experts, said it was almost certainly a classic I Dig It gift, loan and sale transaction. The $US7 million of shares Huang moved into his trust in 2012 are today worth more than $US3 billion ($4.7 billion). If those shares were directly passed on to Huang’s heirs, they would be taxed at 40 per cent – or well over $US1 billion. Instead, the tax bill will probably be no more than a few hundred thousand dollars. The Huangs soon took another big step toward reducing their estate tax bill. In 2016, they set up several vehicles known as “grantor-retained annuity trusts” or GRATs, securities filings show. They put just over 3 million Nvidia shares into their four new GRATs. The shares were worth about $US100 million ($156 million). If their value rose, the increase would be a tax-free windfall for their two adult children, who both work at Nvidia. That is precisely what happened. The shares are now worth more than $US15 billion ($23.4 billion), according to data from securities filings compiled by Equilar, a data firm. That means the Huang family is poised to avoid roughly $US6 billion ($9.4 billion) in estate taxes. If the Huangs’ trusts sell their shares, that will generate a hefty capital gains tax bill – more than $US4 billion ($6.2 billion), based on Nvidia’s current stock price. The Huangs can pay that bill on behalf of the trusts without it counting as a taxable gift to their heirs. Tax strategy Starting in 2007, Huang deployed another technique that would further reduce his family’s estate taxes. This strategy involved taking advantage of his and his wife’s charitable foundation. Huang has given the Jen Hsun & Lori Huang Foundation shares of Nvidia worth about $US330 million ($516 million) at the time of the donations. Such donations are tax-deductible, meaning they reduced the Huangs’ income tax bills in the years that the gifts took place. Loading Foundations are required to make annual donations to charities equal to at least 5 per cent of their total assets. But the Huangs’ foundation is satisfying that requirement by giving heavily to what is known as a donor-advised fund. Such funds are pools of money that the donor controls. There are limitations on how the money can be spent. Buying cars or vacation homes or the like is off-limits. But a fund could, say, invest money in a business run by the donor’s friend or donate enough money to name a building at a university that the donor’s children hope to attend. There is a gaping loophole in the tax laws: Donor-advised funds are not required to actually give any money to charitable organisations. When the donor dies, control of the fund can pass to his heirs – without incurring any estate taxes. In recent years, 84 per cent of the Huang Foundation’s donations have gone to its donor-advised fund, named GeForce, an apparent nod to the name of an Nvidia video game chip. The Nvidia shares the Huangs have donated are today worth about $US2 billion ($3.1 billion). The fund is not required to disclose how its money is spent, though the foundation has said the assets will be used for charitable purposes. Matthew said those causes included higher education and public health. But there is another benefit. Based on Nvidia’s current stock price, the donations to the fund have reduced Huang’s eventual estate tax bill by about $US800 million ($1.2 billion). This article originally appeared in The New York Times . The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning . Save Log in , register or subscribe to save articles for later. Tax avoidance AI Nvidia Income tax Most Viewed in Business LoadingGuatemala Faces Criticism Over Suspended Civil War Trials
Joshua Hall family ‘hanging on to hope’ as reward increased to $5,000
EAGAN, Minn. (AP) — Justin Jefferson might be weary of all the safeties shadowing his every route, determined not to let the Minnesota Vikings go deep, but he's hardly angry. The double and triple coverage he continually faces, after all, is a sign of immense respect for his game-breaking ability. The strategy also simply makes sense. “I would do the same," Jefferson said. "It’s either let everybody else go off or let Justin go off. I’m going to let everybody else go off. That would be my game plan.” When the Vikings visit Chicago on Sunday, they're expecting the usual heavy dose of split-safety coverage designed to put a lid on the passing attack and force them to operate primarily underneath. “We see that every week: Teams just have different tendencies on film, and then when we go out on the field they play us totally different,” Jefferson said, later adding: “I don’t really feel like anyone else is getting played how I’m getting played.” Jefferson nonetheless is second in the NFL in receiving yards (912) behind Cincinnati's Ja'Marr Chase, his former college teammate at LSU. Last week, Jefferson set yet another all-time record by passing Torry Holt for the most receiving yards over the first five seasons of a career. Holt logged 80 regular-season games and accumulated 6,784 yards for St. Louis. Jefferson has 6,811 yards — in just 70 games. “I want to go up against those single coverages. I want to go have my opportunities to catch a deep pass downfield, just one-on-one coverage, like a lot of these other receivers get," Jefferson said. "It’s definitely difficult going up against an extra person or an extra two people, but it is what it is and the concepts that we’re drawing up and the ways that we’re trying to get me open, it definitely helps.” With fellow tight end Josh Oliver ruled out of the game on Sunday because of a sprained ankle, T.J. Hockenson is certain to have his heaviest workload since returning from knee surgery four weeks ago. He's also certain that Jefferson will continue to see persistent double-teams. “It puts it on us to make some plays and do some things to get them out of that,” Hockenson said. Vikings coach Kevin O'Connell has been forced to dig deeper into the vault of play designs and game plans to help keep quarterback Sam Darnold and the offense on track. O'Connell said after Minnesota's 12-7 win at Jacksonville, when Darnold threw three interceptions to precipitate a safer strategy down the stretch, that he superseded his play-calling role with the wisdom of a head coach to help win that game. "Not just the egomaniac of wanting to score points and constantly show everybody how smart we are. There was a mode that I think you have to go into sometimes to ensure a victory,” O'Connell said on his weekly show on KFAN radio. Taking what the defense gives is usually the shrewdest strategy. “You’ve got to really implement some new things and some things that maybe you didn’t come across during your early coaching years whether as a coordinator or position coach or even when you’re responsible for a small area of the game plan as a younger coach," O'Connell said. "You really have to kind of look outside the lens of always what you see on tape.” AP NFL: https://apnews.com/hub/NFLSutton scores 23, Omaha knocks off Sacramento State 70-60
Liz Truss: ‘The Blob’ caused economy to stagnate, not me
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