bethany mclean coronavirus

COVID-19 Locations & Demographics - LA County Department of Public Health Previous assignments include editor-at-large, columnist for Fortune, and a contributor to Slate . sure to go down in history as one of the wildest business stories ever. Enron tale author Bethany McLean has a new book she wrote from her In a January 4 opinion piece for the New York Times, Bethany McLean had this to say about the outcome of the Elizabeth Holmes trial: "A jury's verdict is black-and-white, but the real story is . Nocera is a columnist for Bloomberg Opinion and co-author of Indentured, about the NCAA. If private equity suffers, the blow will reverberate throughout the entire economy. At least 1 in 303 residents have died from the coronavirus, a total of 2,512 deaths. Ms. McLean is the author of Saudi America: The Truth About Fracking and How Its Changing the World., Ever since the oil shocks of the 1970s, the idea of energy independence, which in its grandest incarnation meant freedom from the worlds oil-rich trouble spots, has been a dream for Democrats and Republicans alike. According to the Institutional Limited Partners Association (ILPA), a lobbying group which represents CalPERs and other public investors, businesses backed by private equity employ more than 8.8 million Americans at over 35,000 companies, accounting for a staggering 5% of the United States GDP. COVID-19 in McLean County for the week ending 3-3-23 - New Cases (2-23-23 to 3-1-23):129; New Hospitalizations (2-22-23 to 2-28-23):10 ; McLean Countys COVID-19 Community Level is LOW: When Community Level is LOW: Stay up to date on vaccinations, Get tested if you have symptoms. In April, the Energy Information Administration cut its forecast for U.S. oil production, estimating that it will fall both this year and next suggesting that the days of huge growth in production from shale are over. COVID-19: Medical Sheltering at the Bell Gardens Quality Inn and Suites Even so, he told me, a large number of private-equity firms ignored that guidance and decided to put very high levels of leverage on their portfolio companies. Maybe those firms should now be required to contribute more equity from their cash stockpiles, he suggests. [citation needed], She authored an article on Enron for the March 5, 2001, issue of Fortune entitled, "Is Enron Overpriced? Private equity has made multibillionaires of executives like Blackstones Steve Schwarzman (net worth: $17.5 billion) and Apollos Leon Black ($7.5 billion). As a result, private equity is now wound into the very fabric of our economy. Because rules for access to this money werent specified in the CARES Act, as ILPA notes, the executive branch will have a fair amount of discretion over who gets access to the moneyand private-equity firms want to take full advantage of that opening. (Adila Mchich, CME Group), Fractivism: Corporate Bodies and Chemical Bonds (Sarah Ann Wylie), The Fracktivists (Colin Kinniburgh, Dissent), Kate: A Moderate Proposal: Nationalize The Fossil Fuel Industry (The New Republic), This week, Kate and Daniel talk to Bethany McLean, author most recently of, Saudi America: The Truth about Fracking and How Its Changing the World, The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron, If you like the episode and want to hear more, sign up as a monthly member at. The industrys $1.5 trillion in cash on hand is also the highest on recordand more than double what it was five years ago, according to Preqin. A deal, and higher oil prices, might help the industry. The industrys total assets under management have hit a record $4.1 trillion. Policymakers who wanted to tout energy independence disregarded all this, even as investors were starting to lose patience. The 42 Best Romantic Comedies of All Time, The 25 Best Shows on Netflix to Watch Right Now. So if Blackstones investments crater, the teachers, firefighters, and health care workers who are counting on those investments to generate the returns necessary to pay their pensions will suffer. Yet an exemption for the private-equity industry did not make its way into the CARES Act; according to Bloomberg, Senate Majority Leader Mitch McConnell is trying to pass a $250 billion boost to the PPPwithout provisions opening it to private-equity-backed companies. Driven partly by public pensions, the private-equity industry has mushroomed. NEW YORK (AP) Business writers Bethany McLean and Joe Nocera are collaborating on a critical take of the U.S. response to the coronavirus pandemic. If you like the episode and want to hear more, sign up as a monthly member at patreon.com/hotbotheredclimate today. NEW YORK Business writers Bethany McLean and Joe Nocera are collaborating on a critical take of the U.S. response to the coronavirus pandemic. The fracking boom that drove a decade of record U.S. oil and gas production was never really profitable to begin with. About Bethany McLean is a contributing editor at Vanity Fair. No food or drink for one hour prior to testing. Copyright 2023 WSLS.com is managed by Graham Digital and published by Graham Media Group, a division of Graham Holdings. How will the virus continue to change? Business and Society Lecture features journalist Bethany McLean Not only should taxpayer funds not be used to pay management or consulting firms, she says, but companies that take the money should also, for instance, be required to include workers on their corporate boards and gradually increase their minimum wage to at least $15 an hour. If private equity is handed billions in taxpayer money, it could use some of it to pay themselves hefty fees today, then pocket even more of it down the road, when they sell their portfolio companies and collect their 20% of the taxpayer-enabled gains. NEW YORK (AP) Business writers Bethany McLean and Joe Nocera are collaborating on a critical take of the U.S. response to the coronavirus pandemic. [1] In 1992 she received a B.A. Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram. Confirmed cases include those reported since the beginning of the current active outbreak and may include cases that . Bethany McLean is a Vanity Fair contributing editor. 208 new COVID cases reported in McLean County Paying members will get access to perks like a. by Kate Aronoff, Alyssa Battistoni, Daniel Aldana Cohen, and Thea Riofrancos, and much more. Investors were willing to do this only as long as oil prices, which are not under Americas control, were high and when they believed that one day, profits would materialize. More than 100,000 people already have died in this country from the virus. In the five years ending in April, there were 215 bankruptcies for oil and gas companies, involving $130 billion in debt, according to the law firm Haynes and Boone. He and McLean previously worked together on All the Devils Are Here: The Hidden History of the Financial Crisis, about the 2008 market crash. Making a Killing with Bethany McLean on Apple Podcasts After Enron's rapid collapse later in 2001, McLean co-authored the book The Smartest Guys in the Room (2003) which detailed the corrupt business practices of Enron officials. Nursing home COVID-19 outbreak reported in Merced County, CA | Merced Fractivism: Corporate Bodies and Chemical Bonds, A Moderate Proposal: Nationalize The Fossil Fuel Industry, https://media.blubrry.com/belabored/dissentmagazine.org/mp3/24HotBothered.mp3. Mortgages should be used to buy homes, not for refinancing. Coronavirus May Kill Our Fracking Fever Dream - The New York Times Get COVID-19 vaccine updates from the CDC. In 2018, according to analytics firm eVestment, pension funds in the U.S. and the U.K. pumped 27% of their fresh allocations of money into private-equity funds, up from 25% the year before. Regarding another ongoing Covid danger, that of reinfections, a virologist sets the record straight: There has yet to be a variant that negates the benefits of vaccines.. To revisit this article, select My Account, thenView saved stories. The man who shot his girlfriend and five relatives at a birthday celebration had "control issues". Thats because some of the major investors in private-equity funds are public pension plans; at Blackstone, roughly one-third of the firms money comes from retirement plans set up to provide for over 30 million working-class Americans, according to someone with knowledge of its portfolio. McLean County reports 182 new COVID cases - pantagraph.com All we know for sure is that fracking company executives and private equity financiers have made a fortune by touting the myth of energy independence and they wont be the ones who have to pick up the pieces., Bethany McLean, a contributing editor at Vanity Fair, is the author of Saudi America: The Truth About Fracking and How Its Changing the World.. Portfolio, a Penguin Random House imprint, announced Wednesday that the two had reached an agreement for a news-breaking, character-driven narrative revealing the forces that rendered critical American institutions ill-equipped to cope with the deadliest pandemic since the 1918 Spanish flu and the economic consequences of that failure.The title and release date have not yet been determined. Americas energy independence was an illusion created by cheap debt. Unlike venture capitalists, who provide start-up funds to new companies, private-equity firms generally take over existing businesses, usually by borrowing large sums of money. Like the big banks in 2008, private equity is holding us all hostage. A journalist profiles the developers and devotees who have aided the rise of cybercurrency. [16] McLean resides in Chicago with her children. Actually, no. This location, as with the other County contracted medical sheltering sites, will accept individuals from the local community that are referred through DPH. Her two books are the The Smartest Guys in the Room: The Amazing. On Thursday's show: The job forecast for the region in 2022, lessons from the collapse of Enron, a conversation with the late Stephen Sondheim, and the best new restaurants from the past year. Its thanks to those who are able to contribute that were able to make the podcast free for anyone to listen to. But there are ways to make it work better. New revelations about how one Trump staffer helped preserve the transfer of powerfrom the forthcoming book on the Biden White House, COVID-19 Origins: Investigating a Complex and Grave Situation Inside a Wuhan Lab. Traders last year at the New York Stock Exchange near the post that trades Anadarko Petroleum and Occidental Petroleum. She has co-authored multiple bestselling books, including The Smartest Guys in the Room and All the Devils Are Here. Thats because one big source of funding didnt dry up: private equity. The value of West Texas Intermediate crude, a U.S. benchmark, dipped below zero for a few hourstrading as low as negative $40 a barrel. Since that time, Oxys stock has plummeted almost 80 percent in part due to fears that the Anadarko acquisition is going to prove so wildly unprofitable that it sinks the company. We could also limit the deductibility of interest payments for tax purposes even more than President Donald Trumps new tax law already did, so companies arent encouraged to load up on debt. All that's left to tally is the damage. The community level of Covid-19 in McLean County is low based on cases and hospitalizations, according to the most recent update from the C.D.C. Bethany McLean - IMDb What the Theranos trial says about the blurred lines between visionaries and frauds. According to the CARES Act, companies can only receive loans from the Small Business Administration if they commit to preserving jobs. Novavax Inc said on Thursday it would require six months to produce a COVID-19 vaccine designed to match whichever coronavirus variants are circulating for an annual immunization program each fall . She has been married to Sean Murray Berkowitz since May 2008. Best-selling author Bethany McLean reveals the true story of fracking's impact - on Wall Street, the economy, and geopolitics. In 2019, the American Investment Council (AIC), a lobbying group which represents private-equity giants like Blackstone, the Carlyle Group, Apollo Global Management, and KKR, declared that in order to continue to provide the benefits they guarantee, pensions must continue to invest in private equity.. Deaths, active cases . Clients who show symptoms of COVID-19 (for example have a fever, cough, or difficulty breathing) and/or are waiting for their test results. You can see how all of this is playing out by looking at Occidental Petroleum. Americas largest public pension plan, the California Public Employees Retirement System, or CalPERS, put almost $7 billion into private equity during the 2018-2019 fiscal year, according to Institutional Investor. All rights reserved. Bethany McLean | Chicago Booth Review The Next Financial Crisis Lurks Underground (Bethany McLean, New York Times), Coronavirus May Kill Our Fracking Fever Dream (Bethany McLean, New York Times), Are Crude Oil & Natural Gas Prices Linked? 2023 Cond Nast. There were rumblings that shale companies would seek a federal lifeline. Thats a difficult question to answer definitely, writes the Opinion columnist Zeynep Tufekci, because of the lack of adequate research and support for sufferers, as well as confusion about what the condition even is. Blackstones Schwarzman has ties to Trump. One is the so-called Paycheck Protection Program (PPP), set up to make $349 billion in government-guaranteed loans available to businesses with fewer than 500 employees. McLean was born in Hibbing, Minnesota on December 12, 1970. Bethany McLean is a Vanity Fair contributing editor. The book was later made into the Academy Award-nominated documentary Enron: The Smartest Guys in the Room. Given how much of the economy will rise and fall on the investments that private-equity funds manage, we may be forced to let them share the federal handout. Music: Mercurias Meet Victor Rice, Carregar (Instrumental), courtesy of Total Running Time. On March 10, the company announced that it would slash its dividend for the first time since the early 1990s, when Saddam Husseins invasion of Kuwait sent oil prices plummeting. That, too, is ending, as investors in such funds have become disillusioned. Mnuchin is a former Goldman Sachs executive and hedge fund guy; Blackstones Schwarzman has ties to Trump; Jared Kushners family business has gotten loans from Apollo, according to the Washington Post. Waters, in her letter, argues for placing even more strings on the money taken by private-equity-backed companies. Otherwise, the ILPA warned in a previous letter, there would be significant harm not only to employees that see their hours reduced or jobs eliminated, but also significantly reduced returns to the institutions providing retirement security through pensions, insurance policies and other investments that serve hundreds of thousands of Americans. To make matters worse, ILPA added, provisions in many private-equity investments allow private-equity firms to make additional capital calls when times are tough. Hot & Bothered is produced by Colin Kinniburgh. On April 20, oil prices did something theyve never done before. In 2019, Oxy, as its known, topped a competing bid from Chevron and paid $38 billion to take over Anadarko Petroleum, which is one of the major shale companies. Bethany McLean. The promised profits havent materialized. Nocera is a columnist for Bloomberg Opinion and co-author of Indentured, about the NCAA. CORONAVIRUS (COVID-19) - McLean County Health, IL How concerning are things like long covid and reinfections? Whats more, the Milken Institute reported, even by mid-2018, private equity owned more companies than the number of businesses listed on all of the U.S. stock exchanges combined, and have accounted for a more significant source of financing than initial public offerings in many recent years. All the Devils Are Here - Wikipedia [17], Last edited on 21 November 2022, at 20:31, "Hibbing grad warns of economic crisis below ground", "What Working At Goldman Sachs Taught Legendary Business Journalist Bethany McLean", "Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street", "BYRNE'S HOT MAIL; OVERSTOCK CHIEF'S TEMPER ERUPTS IN MESSAGES", Financial System's Top Risk, Hiding in Plain Sight, "U.S. mortgage giants under the microscope", "Loughlin, Giannulli lawyer is prosecutors' 'worst nightmare', "Q & A with Bethany McLean, Author of 'All the Devils Are Here', "Enron tale author Bethany McLean has a new book she wrote from her Chicago home", https://en.wikipedia.org/w/index.php?title=Bethany_McLean&oldid=1123096713, This page was last edited on 21 November 2022, at 20:31. The Wuhan Institute of Virology, the cutting-edge . They subprimed the American energy ecosystem, says a longtime energy market observer. Infuriatingly enough, the financial crisis in 2008 might even have saved private-equity firms from their sins. Portfolio, a Penguin Random House imprint . Here are some tips. The industrys lack of profits wasnt exactly a secret. . Private equity financiers typically get a 2 percent management fee on funds they can raise, so they are incentivized to take all the money that pension funds, desperate for returns to shore up their promises to retirees, have been willing to give them. The title and release date have not yet been determined. Has its bubble finally burst? College student found dead in her dorm after testing positive for Saudi America by Bethany McLean - Audiobook - Audible.com In reality, the dream was always an illusion, and its collapse was already underway. This week, Kate and Daniel talk to Bethany McLean, author most recently of Saudi America: The Truth about Fracking and How It's Changing the World as well as the bestselling The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron, with Peter Elkind. All thats left to tally is the environmental and financial damage. Almost everything thats happened since 2008 has tilted in their favor. That means public pensions might be forced to dump their holdings in public-backed investments to provide private-equity firms with emergency casha move that could depress the stock market even further. The allies of private equity hope that similar exemptions will soon be forthcoming for their firms.We are in a wait-and-see mode, Chris Hayes, the ILPAs senior policy counsel, told me. She resides in Chicago with her children. Book review of The Power LawVenture Capital and the Making of the New So why should they be permitted to raid the federal Treasury in a time of crisis? Manage all aspects of the daily operation for Ham Conversion, processing up to 1.5 million lbs/day . Bethany McLean - Contributing Editor - Vanity Fair | LinkedIn Nocera and McLean writing book on U.S. coronavirus response By The Associated Press June 24, 2020 NEW YORK (AP) Business writers Bethany McLean and Joe Nocera are collaborating on a critical take of the U.S. response to the coronavirus pandemic. As a group of scientists who study virusesexplains, Theres no reason, at least biologically, that the virus wont continue to evolve.From a different angle, the science writer David Quammen surveys some of the highly effective tools and techniques that are now available for studying Covid and other viruses, but notes that such knowledge alone wont blunt the danger. [4], In 2005, McLean got into a spat with then-CEO of Overstock.com Patrick M. Byrne after she wrote a negative article about Overstock and him.[5][6]. To revisit this article, visit My Profile, thenView saved stories. [13][14][15] They divorced in 2020. Bill White wants to restore Americas historical proclivity for balanced budgets. Thats because oil fracking has never been financially viable. We asked three experts two immunologists and an epidemiologist to weigh in on this and some of the hundreds of other questions weve gathered from readers recently, including how to make sense of booster and test timing, recommendations for children, whether getting covid is just inevitable and other pressing queries. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. Bethany McLean Latest Articles | Vanity Fair 500 energy sector fell 20 percent, marking the sectors largest drop on record. Now, it has been shut off. The fear, of course, is that private equity will do what private equity does best, which is pocket the money themselves rather than devoting it to the businesses theyve invested in. All rights reserved. She is also a columnist at Yahoo Finance and a contributor to CNBC. Ad Choices. Ever since Congress voted to hand out $2 trillion in taxpayer money to those hardest hit by the coronavirus pandemic, American businesses have been scrambling for a piece of the action. COVID-19 Origins: Investigating a "Complex and Grave Situation" Inside a Wuhan Lab. Coronavirus outbreaks were reported by the Merced County Department of Public Health at New Bethany Residential Care retirement home in Los Banos and Dutch Bros Coffee. Nocera and McLean writing book on U.S. coronavirus response This kind of rewrites the economics of oil trading.. Nocera and McLean writing book on U.S. coronavirus response Tens of thousands of Texans are being laid off in the Permian Basin and other parts of the state, and the whole industry is bracing for worse. 1 FOR PHARMACISTS PRESCRIBING PAXLOVID: This service is available in all locations, with the exception of those in New Hampshire. We could go even further. A loophole in the tax code currently allows private-equity financiers to pay taxes on their returns at the lower rate for capital gains, rather than the higher rate for personal income. Demian McLean | The Seattle Times In 2019, Mclean launched a podcast titled Making a Killing on Luminary. All thats left to tally is the damage. 2 FOR DRIVE-THRU TESTING RESULTS: Lab samples are sent to an off-site laboratory and results may take 1 to 2 days or even longer in some instances or in times of peak demand. NEW YORK Business writers Bethany McLean and Joe Nocera are collaborating on a critical take of the U.S. response to the coronavirus pandemic. Is there any chance this could lead to prison time? Bethany McLean. By Patrick Semansky/AP Photo (Mnuchin); By Mark Wilson (Pelosi), Jason Alden (Shwarzman), Patrick T. Fallon/Bloomberg (Black), by Johannes EISELE/AFP (stocks), by Christina Horsten (tents), by John Nacion (ambulance); All from Getty Images. But they wont fix its fundamental problem with profitability. In the first half of 2019, when oil was around $55 a barrel, only a few top-tier companies were profitable. All rights reserved. According to the Institutional Limited Partners Association. Even before the COVID crisis, there were questions about how well private-equity investments were actually performing. When will the pandemic end? Wed like to hear what you think about this or any of our articles. A college student in Indiana died in her dorm room after testing positive for the coronavirus, school officials and her family said. Daily updates from Washington, Wall Street, and Silicon Valley. (And not all private-equity firms care equally about all of the programs.) In May 2008, she married attorney Sean Berkowitz, the former Director of the United States Department of Justice Enron Task Force. Whiting Petroleum, whose stock once traded for $150 a share, filed for bankruptcy. Like so many other facets of the COVID-19 crisis, however, this unprecedented crash exposed long-running cracks in the facade.