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In 2011, we trapped a wild-born feral in our neighborhood, Sox. After getting her fixed and microchipped, we kept her in a half bath with a window for five months, spending time with her daily. It took years for her to trust us, but she eventually became a happy, content indoor cat, even bonding with two of our other cats. We moved across the country with Sox and four other pets, making stops to ensure they were comfortable. Sox remained cautious in our new home but eventually started exploring the house and stopped hiding. She would flop on her back, purr and show us just how happy she had become. She never did want us to touch her or pick her up, though. Sadly, we lost Sox in December 2022 to kidney disease and hypothyroidism. She was so ill at the end that I was able to pick her up for the first time and hold her. We miss her terribly, but we’re grateful for the wonderful life she had with us. — Ken, Las Vegas Dear Ken: Unfortunately, not all feral cats can transition to indoor life as well as Sox did. Cats have a much smaller socialization window than dogs, and if they miss that critical period, they may never adjust to living indoors. Some ferals become severely stressed or fearful in confinement, to the point where their quality of life suffers. In these cases, caretakers often make the tough decision to let them live outdoors. Injuries like the one described in the column are heartbreaking reminders of the risks and challenges outdoor cats face. It also underscores the importance of spaying and neutering pets to reduce the number of unwanted cats left to fend for themselves on the streets. Dear Cathy: My dog, Oliver, is about 2 years old. We’ve had him for a year. He was a stray captured by a Washington, D.C., animal shelter, who was fostered, neutered, vaccinated and operated on for a urinary tract issue. He was later adopted by a family whose “first” dog didn’t want a “little brother.” When we brought him home, his anxiety was understandably high, and he barked aggressively at new faces and visitors. Over time, this behavior has improved — his barking is now less aggressive and shorter. He approaches, backs up and barks a little more but calms down after a few minutes and becomes the friendly, quiet Oliver we love. He’s a terrier mix with a DNA profile showing a mix of about 15 breeds, including bully breeds and husky. He’s a small to medium-size dog. Any suggestions on how to build his confidence when greeting visitors? — Oliver’s Mom, Washington, D.C. Dear Oliver’s Mom: One way to help Oliver feel more secure is to practice controlled greetings. Start with familiar friends. When they arrive, have them enter quietly, avoid direct eye contact and let Oliver approach on his terms. Reward calm behavior with treats and praise, reinforcing that visitors are positive experiences. To strengthen these associations, guests may also offer him a favorite treat or toy upon arrival. The goal is to get Oliver to see new faces as opportunities for fun and rewards, not threats. Pair that with teaching him to sit when new people arrive, since dogs have a more difficult time barking when they are sitting. For extra support, tools like an anxiety wrap, pheromone collar or over-the-counter calming chews can help soothe Oliver and set the stage for success. Puzzle toys filled with high-value treats, reserved specifically for when guests arrive, can also redirect his energy. With consistency and by celebrating small wins, his greeting behavior will likely improve as he builds confidence and learns he is safe.Philippines reverses outflow trend, attracts $96 million in foreign investments
By MATTHEW BROWN and JACK DURA BISMARCK, N.D. (AP) — Donald Trump assigned Doug Burgum a singular mission in nominating the governor of oil-rich North Dakota to lead an agency that oversees a half-billion acres of federal land and vast areas offshore: “Drill baby drill.” That dictate from the president-elect’s announcement of Burgum for Secretary of Interior sets the stage for a reignition of the court battles over public lands and waters that helped define Trump’s first term, with environmentalists worried about climate change already pledging their opposition. Burgum is an ultra-wealthy software industry entrepreneur who grew up on his family’s farm. He represents a tame choice compared to other Trump Cabinet picks. Public lands experts said his experience as a popular two-term governor who aligns himself with conservationist Teddy Roosevelt suggests a willingness to collaborate, as opposed to dismantling from within the agency he is tasked with leading. That could help smooth his confirmation and clear the way for the incoming administration to move quickly to open more public lands to development and commercial use. “Burgum strikes me as a credible nominee who could do a credible job as Interior secretary,” said John Leshy, who served as Interior’s solicitor under former President Bill Clinton. “He’s not a right-wing radical on public lands,” added Leshy, professor emeritus at the University of California College of the Law, San Francisco. The Interior Department manages about one-fifth of the country’s land with a mandate that spans from wildlife conservation and recreation to natural resource extraction and fulfilling treaty obligations with Native American tribes. Most of those lands are in the West, where frictions with private landowners and state officials are commonplace and have sometimes mushroomed into violent confrontations with right-wing groups that reject federal jurisdiction. Burgum if confirmed would be faced with a pending U.S. Supreme Court action from Utah that seeks to assert state power over Interior Department lands. North Dakota’s attorney general has supported the lawsuit, but Burgum’s office declined to say if he backs Utah’s claims. U.S. Justice Department attorneys on Thursday asked the Supreme Court to reject Utah’s lawsuit. They said Utah in 1894 agreed to give up its right to the lands at issue when it became a state. Trump’s narrow focus on fossil fuels is a replay from his 2016 campaign — although minus coal mining, a collapsing industry that he failed to revive in his first term. Trump repeatedly hailed oil as “liquid gold” on the campaign trail this year and largely omitted any mention of coal. About 26% of U.S. oil comes from federal lands and offshore waters overseen by Interior. Production continues to hit record levels under President Joe Biden despite claims by Trump that the Democrat hindered drilling. But industry representatives and their Republican allies say volumes could be further boosted. They want Burgum and the Interior Department to ramp up oil and gas sales from federal lands, in the Gulf of Mexico and offshore Alaska. The oil industry also hopes Trump’s government efficiency initiative led by billionaire Elon Musk can dramatically reduce environmental reviews. Biden’s administration reduced the frequency and size of lease sales, and it restored environmental rules that were weakened under Trump . The Democrat as a candidate in 2020 promised further restrictions on drilling to help combat global warming, but he struck a deal for the 2022 climate bill that requires offshore oil and gas sales to be held before renewable energy leases can be sold. “Oil and gas brings billions of dollars of revenue in, but you don’t get that if you don’t have leasing,” said Erik Milito with the National Ocean Industries Association, which represents offshore industries including oil and wind. Trump has vowed to kill offshore wind energy projects. But Milito said he was hopeful that with Burgum in place it would be “green lights ahead for everything, not just oil and gas.” It is unclear if Burgum would revive some of the most controversial steps taken at the agency during Trump’s first term, including relocating senior officials out of Washington, D.C., dismantling parts of the Endangered Species Act and shrinking the size of two national monuments in Utah designated by former President Barack Obama. Officials under Biden spent much of the past four years reversing Trump’s moves. They restored the Utah monuments and rescinded numerous Trump regulations. Onshore oil and gas lease sales plummeted — from more than a million acres sold annually under Trump and other previous administrations, to just 91,712 acres (37,115 hectares) sold last year — while many wind and solar projects advanced. Developing energy leases takes years, and oil companies control millions of acres that remain untapped. Biden’s administration also elevated the importance of conservation in public lands decisions, adopting a rule putting it more on par with oil and gas development. They proposed withdrawing parcels of land in six states from potential future mining to protect a struggling bird species, the greater sage grouse. North Dakota is among Republican states that challenged the Biden administration’s public lands rule. The states said in a June lawsuit that officials acting to prevent climate change have turned laws meant to facilitate development into policies that obstruct drilling, livestock grazing and other uses. Oil production boomed over the past two decades in North Dakota thanks in large part to better drilling techniques. Burgum has been an industry champion and last year signed a repeal of the state’s oil tax trigger — a price-based tax hike industry leaders supported removing. Burgum’s office declined an interview request. In a statement after his nomination, Burgum echoed Trump’s call for U.S. “energy dominance” in the global market. The 68-year-old governor also said the Interior post offered an opportunity to improve government relations with developers, tribes, landowners and outdoor enthusiasts “with a focus on maximizing the responsible use of our natural resources with environmental stewardship for the benefit of the American people.” Related Articles National Politics | Trump’s team is delaying transition agreements. What does it mean for security checks and governing? National Politics | Judge delays Trump hush money sentencing in order to decide where case should go now National Politics | Republicans scramble to fill JD Vance’s Ohio Senate seat National Politics | Gaetz’s withdrawal highlights how incoming presidents often lose Cabinet nominees National Politics | What to know about Pam Bondi, Trump’s new pick for attorney general Under current Interior Secretary Deb Haaland, the agency put greater emphasis on working collaboratively with tribes, including their own energy projects . Haaland, a member of the Pueblo of Laguna tribe in New Mexico, also advanced an initiative to solve criminal cases involving missing and murdered Indigenous peoples and helped lead a nationwide reckoning over abuses at federal Indian boarding schools that culminated in a formal public apology from Biden. Burgum has worked with tribes in his state, including on oil development. Badlands Conservation Alliance director Shannon Straight in Bismarck, North Dakota, said Burgum has also been a big supporter of tourism in North Dakota and outdoor activities such as hunting and fishing. Yet Straight said that hasn’t translated into additional protections for land in the state. “Theodore Roosevelt had a conservation ethic, and we talk and hold that up as a beautiful standard to live by,” he said. “We haven’t seen it as much on the ground. ... We need to recognize the landscape is only going to be as good as some additional protections.” Burgum has been a cheerleader of the planned Theodore Roosevelt Presidential Library in Medora, North Dakota. Brown reported from Billings, Montana.'Democracy and freedom': Jimmy Carter's human rights efforts in Latin AmericaRemembering Jimmy Carter: Maryland leaders react to the death of the country’s 39th president
YOUNGSTOWN, Ohio (AP) — EJ Farmer scored 16 points as Youngstown State beat Detroit Mercy 73-64 on Sunday for their seventh victory in a row. Read this article for free: Already have an account? To continue reading, please subscribe: * YOUNGSTOWN, Ohio (AP) — EJ Farmer scored 16 points as Youngstown State beat Detroit Mercy 73-64 on Sunday for their seventh victory in a row. Read unlimited articles for free today: Already have an account? YOUNGSTOWN, Ohio (AP) — EJ Farmer scored 16 points as Youngstown State beat Detroit Mercy 73-64 on Sunday for their seventh victory in a row. Farmer had three steals for the Penguins (9-5, 4-0 Horizon League). Gabe Dynes scored 12 points while going 4 of 5 and 4 of 6 from the free-throw line and added five rebounds and four blocks. Nico Galette had 10 points. Orlando Lovejoy led the Titans (5-10, 1-3) with 23 points and three steals. Legend Geeter and TJ Nadeau both scored eight. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar. Advertisement
The 444-day Iran hostage crisis that undid Jimmy Carter's presidency
Jimmy Carter, a peanut farmer and little-known Georgia governor who became the 39th president of the United States, promising “honest and decent” government to Watergate-weary Americans, and later returned to the world stage as an influential human rights advocate and Nobel Peace Prize winner, has died. He was 100. When his turbulent presidency ended after a stinging reelection loss in 1980, Carter retreated to Plains, his political career over. Over the four decades that followed, though, he forged a legacy of public service, building homes for the needy, monitoring elections around the globe and emerging as a fearless and sometimes controversial critic of governments that mistreated their citizens. He lived longer than any U.S. president in history and was still regularly teaching Bible classes at his hometown Maranatha Baptist Church well into his 90s. During his post-presidency, he also wrote more than 30 books, including fiction, poetry, deeply personal reflections on his faith, and commentaries on Middle East strife. Though slowed by battles with brain and liver cancer and a series of falls and hip replacement in recent years, he returned again and again to his charity work and continued to offer occasional political commentary, including in support of mail-in voting ahead of the 2020 presidential election. Carter was in his first term as Georgia governor when he launched his campaign to unseat President Gerald Ford in the 1976 election. At the time, the nation was still shaken by President Richard Nixon’s resignation in the Watergate scandal and by the messy end of the Vietnam War. As a moderate Southern Democrat, a standard-bearer of what was then regarded as a more racially tolerant “new South,” Carter promised a government “as good and honest and decent and competent and compassionate and as filled with love as are the American people.” But some of the traits that had helped get Carter elected — his willingness to take on the Washington establishment and his preference for practicality over ideology — didn’t serve him as well in the White House. He showed a deep understanding of policy, and a refreshing modesty and disregard for the ceremonial trappings of the office, but he was unable to make the legislative deals expected of a president. Even though his Democratic Party had a majority in Congress throughout his presidency, he was impatient with the legislative give-and-take and struggled to mobilize party leaders behind his policy initiatives. His presidency also was buffeted by domestic crises — rampant inflation and high unemployment, as well as interminable lines at gas stations triggered by a decline in the global oil supply exacerbated by Iran’s Islamic Revolution. “Looking back, I am struck by how many unpopular objectives we pursued,” Carter acknowledged in his 2010 book, “White House Diary.” “I was sometimes accused of ‘micromanaging’ the affairs of government and being excessively autocratic,” he continued, “and I must admit that my critics probably had a valid point.” Carter’s signature achievements as president were primarily on the international front, and included personally brokering the Camp David peace accords between Egypt and Israel, which have endured for more than 40 years. But it was another international crisis — the storming of the U.S. Embassy in Tehran by Iranian revolutionaries and the government’s inability to win the release of 52 Americans taken hostage — that would cast a long shadow on his presidency and his bid for reelection. Carter authorized a secret military mission to rescue the hostages in April 1980, but it was aborted at the desert staging area; during the withdrawal, eight servicemen were killed when a helicopter crashed into a transport aircraft. The hostages were held for 444 days, a period that spanned Carter’s final 15 months in the White House. They were finally freed the day his successor, Ronald Reagan, took the oath of office. Near the end of Carter’s presidency, one poll put his job approval rating at 21% — lower than Nixon’s when he resigned in disgrace and among the lowest of any White House occupant since World War II. In a rarity for an incumbent president, Carter faced a formidable primary challenge in 1980 from Sen. Edward M. Kennedy, a favorite of the Democratic Party’s liberal wing. Although Carter prevailed, his nomination was in doubt until the party’s August convention. The enmity between Carter and Kennedy, two of the most important Democratic political figures of their generation, continued throughout their lives. In Kennedy’s memoir, published shortly after his death in 2009, he called Carter petty and guilty of “a failure to listen.” While promoting the publication of “White House Diary,” Carter said Kennedy had “deliberately” blocked Carter’s comprehensive healthcare proposals in the late 1970s in hopes of defeating the president in the primary. In the 1980 general election, Carter faced Reagan, then 69, who campaigned on a promise to increase military spending and rescue the economy by cutting taxes and decreasing regulation. Carter lost in a 51% to 41% thumping — he won just six states and the District of Columbia — that devastated the man known for his toothy smile and sent him back to his hometown, an ex-president at 56. A year later, he and Rosalynn founded the Carter Center, which pressed for peaceful solutions to world conflicts, promoted human rights and worked to eradicate disease in the poorest nations. The center, based in Atlanta, launched a new phase of Carter’s public life, one that would move the same historians who called Carter a weak president to label him one of America’s greatest former leaders. His post-presidential years were both “historic and polarizing,” as Princeton University historian Julian E. Zelizer put it in a 2010 biography of Carter. Zelizer said Carter “refused to be constrained politically when pursuing his international agenda” as an ex-president, and became “an enormously powerful figure on the international stage.” When Carter appeared on “The Colbert Report” in 2014, host Stephen Colbert asked him, “You invented the idea of the post-presidency. What inspired you to do that?” “I didn’t have anything else to do,” Carter replied. He traveled widely to mediate conflicts and monitor elections around the world, joined Habitat for Humanity to promote “sweat equity” for low-income homeownership, and became a blunt critic of human rights abuses. He angered conservatives and some liberals by advocating negotiations with autocrats — and his criticism of Israeli leaders and support for Palestinian self-determination angered many Jews. A prolific author, Carter covered a range of topics, including the Middle East crisis and the virtues of aging and religion. He penned a memoir on growing up in the rural South as well as a book of poems, and he was the first president to write a novel — “The Hornet’s Nest,” about the South during the Revolutionary War. He won three Grammy Awards as well for best spoken-word album, most recently in 2019 for “Faith: A Journey For All.” As with many former presidents, Carter’s popularity rose in the years after he left office. He was awarded the Nobel Peace Prize in 2002 for “decades of untiring effort to find peaceful solutions to international conflicts” and to advance democracy and human rights. By then, two-thirds of Americans said they approved of his presidency. “Jimmy Carter may never be rated a great president,” wrote Charles O. Jones, a University of Wisconsin political scientist, in his chronicle of the Carter presidency. “Yet it will be difficult in the long run to sustain censure of a president motivated to do what is right.” :::: The journey for James Earl Carter Jr. began on Oct. 1, 1924, in the tiny Sumter County, Georgia, town of Plains, home to fewer than 600 people in 2020. He was the first president born in a hospital, but he lived in a house without electricity or indoor plumbing until he was a teenager. His ancestors had been in Georgia for more than two centuries, and he was the fifth generation to own and farm the same land. His father, James Earl Carter Sr., known as Mr. Earl, was a strict disciplinarian and a conservative businessman of some means. His mother, known as Miss Lillian, had more liberal views — she was known for her charity work and for taking in transients and treating Black residents with kindness. (At the age of 70, she joined the Peace Corps, working in India.) Inspired by an uncle who was in the Navy, Carter decided as a first-grader that he wanted to go to the Naval Academy in Annapolis, Md. He became the first member of his family to finish high school, then attended Georgia Tech before heading for the academy, where he studied engineering and graduated in 1946, 59th in a class of 820. Before his last year in Annapolis, while home for the summer, he met Eleanor Rosalynn Smith, a friend of his sister Ruth’s. He and a friend invited the two young women to the movies, and when he returned home that night, he told his mother he had met “the girl I want to marry.” He proposed that Christmas, but Rosalynn declined because she felt she was too young (she was 18 and a sophomore in college). Several weeks later, while she was visiting Carter at the academy, he asked again. This time she said yes. Carter applied to America’s new nuclear-powered submarine program under the command of the icy and demanding Capt. (later Adm.) Hyman Rickover. During Carter’s interview, Rickover asked whether he had done his best at Annapolis. “I started to say, ‘Yes, sir,’ but ... I recalled several of the many times at the Academy when I could have learned more about our allies, our enemies, weapons, strategy and so forth,” Carter wrote in his autobiography. “... I finally gulped and said, ‘No, sir, I didn’t always do my best.’” To which Rickover replied: “Why not?” Carter got the job, and would later make “Why not the best?” his campaign slogan. The Carters had three sons, who all go by nicknames — John William “Jack,” James Earl “Chip” and Donnel Jeffrey “Jeff.” Carter and Rosalynn had wanted to have more children, but an obstetrician said that surgery Rosalynn had to remove a tumor on her uterus would make that impossible. Fifteen years after Jeffrey was born, the Carters had a daughter, Amy, who “made us young again,” Carter would later write. While in the Navy, Carter took graduate courses in nuclear physics and served as a submariner on the USS Pomfret. But his military career was cut short when his father died, and he moved back to Georgia in 1953 to help run the family business, which was in disarray. In his first year back on the farm, Carter turned a profit of less than $200, the equivalent of about $2,200 today. But with Rosalynn’s help, he expanded the business. In addition to farming 3,100 acres, the family soon operated a seed and fertilizer business, warehouses, a peanut-shelling plant and a cotton gin. By the time he began his campaign for the White House 20 years later, Carter had a net worth of about $800,000, and the revenue from his enterprises was more than $2 million a year. Carter entered electoral politics in 1962, and asked voters to call him “Jimmy.” He ran for a seat in the Georgia Senate against an incumbent backed by a local political boss who stuffed the ballot box. Trailing by 139 votes after the primary, Carter waged a furious legal battle, which he described years later in his book “Turning Point.” Carter got a recount, the primary result was reversed, and he went on to win the general election. The victory was a defining moment for Carter, the outsider committed to fairness and honesty who had successfully battled establishment politicians corrupted by their ties to special interests. In two terms in the Georgia Senate, Carter established a legislative record that was socially progressive and fiscally conservative. He first ran for governor in 1966, but finished third in the primary. Over the next four years, he made 1,800 speeches and shook hands with an estimated 600,000 people — a style of campaigning that paid off in the 1970 gubernatorial election and later in his bid for the White House. In his inaugural address as governor in 1971, Carter made national news by declaring that “the time for racial discrimination is over.” He had a portrait of the Rev. Martin Luther King Jr. hung in a hall at the Capitol in Atlanta. But when Carter launched his official campaign for the White House in December 1974, he was still so little-known outside Georgia that a celebrity panel on the TV show “What’s My Line?” couldn’t identify him. In the beginning, many scoffed at the temerity of a peanut farmer and one-term governor running for the highest office in the land. After Carter met with House Speaker Thomas P. “Tip” O’Neill Jr., the speaker was asked whom he had been talking to. “Some fellow named Jimmy Carter from Georgia. Says he’s running for president,” O’Neill replied. In a meeting with editors of the Los Angeles Times in 1975, Carter said he planned to gain the presidency by building a network of supporters and by giving his candidacy an early boost by winning the Iowa caucuses. Until then, Iowa had been a bit player in the nominating process, mostly ignored by strategists. But Carter’s victory there vaulted him to front-runner status — and Iowa into a major role in presidential nominations. His emergence from the pack of Democratic hopefuls was helped by the release of his well-reviewed autobiography “Why Not the Best?” in which he described his upbringing on the farm and his traditional moral values. On the campaign trail, Carter came across as refreshingly candid and even innocent — an antidote to the atmosphere of scandal that had eroded confidence in public officials since the events leading to Nixon’s resignation on Aug. 9, 1974. A Baptist Sunday school teacher, Carter was among the first presidential candidates to embrace the label of born-again Christian. That was underscored when, in an interview with Playboy magazine, he made headlines by admitting, “I’ve looked on many women with lust. I’ve committed adultery in my heart many times. God knows I will do this and forgives me.” Carter had emerged from the Democratic National Convention in July with a wide lead over Ford, Nixon’s vice president and successor, but by the time of the Playboy interview in September, his numbers were tumbling. By election day, the contest was a dead heat. Carter, running on a ticket with Walter F. Mondale for his vice president, eked out a victory with one of the narrower margins in U.S. presidential history, winning 50.1% to 48% of the popular vote and 297 electoral votes, 27 more than needed. Many of Carter’s supporters hoped he would usher in a new era of liberal policies. But he saw his role as more of a problem-solver than a politician, and as an outsider who promised to shake things up in Washington, he often acted unilaterally. A few weeks into his term, Carter announced that he was cutting off federal funding to 18 water projects around the country to save money and protect the environment. Lawmakers, surprised by the assault on their pet projects, were livid. He ultimately backed down on some of the cuts. But his relationship with Congress never fully healed. Members often complained that they couldn’t get in to see him, and that when they did he was in a rush to show them the door. His relationship with the media, as he acknowledged later in life, was similarly fraught. Carter’s image as a reformer also took a hit early in his presidency after he appointed Bert Lance, a longtime confidant, to head the Office of Management and Budget. Within months of the appointment, questions were raised about Lance’s personal financial affairs as a Georgia banker. Adamant that Lance had done nothing wrong, Carter dug in his heels and publicly told his friend, “Bert, I’m proud of you.” Still, Lance resigned under pressure, and although he was later acquitted of criminal charges, the damage to Carter had been done. As Mondale later put it: “It made people realize that we were no different than anybody else.” When Carter did score legislative victories, the cost was high. In 1978, he pushed the Senate to ratify the Panama Canal treaties to eventually hand control of the canal over to Panama. But conservatives criticized the move as a diminution of U.S. strength, and even the Democratic National Committee declined to endorse it. Carter’s most significant foreign policy accomplishment was the 1978 Camp David agreement, a peace pact between Israel and Egypt. But he followed that with several unpopular moves, including his decree that the United States would not participate in the 1980 Summer Olympics in Moscow, as a protest against the Soviet Union’s invasion of Afghanistan. It was the only time in Olympic history that the United States had boycotted an Olympics; the Soviets responded by boycotting the 1984 Summer Games in Los Angeles. Carter had taken a series of largely symbolic steps to dispel the imperial image of the presidency. After he took the oath of office on a wintry day, he and the new first lady emerged from their motorcade and walked part of the way from the Capitol to the White House. He ended chauffeur-driven cars for top staff members, sold the presidential yacht, went to the White House mess hall for lunch with the staff and conducted town meetings around the country. He suspended the playing of “Hail to the Chief” whenever he arrived at an event, though he later allowed the practice to resume. On the domestic front, he was saddled with a country in crisis. Inflation galloped at rates up to 14%, and global gasoline shortages closed service stations and created high prices and long lines. Interest rates for home mortgages soared above 14%. In his first televised fireside chat, he wore a cardigan sweater and encouraged Americans to conserve energy during the winter by keeping their thermostats at 65 degrees in the daytime and 55 degrees at night. He also proposed a string of legislative initiatives to deal with the crisis, but many were blocked by Congress. In what would become a seminal moment in his presidency, Carter addressed the nation — and a television audience of more than 60 million — on a Sunday evening in 1979, saying the country had been seized by a “crisis of confidence ... that strikes at the very heart and soul and spirit of our national will.” He outlined a series of proposals to develop new sources of energy. The address, widely known as the “malaise speech” even though Carter never used that word, was generally well-received at the time, though some bristled at the implication that Americans were to blame for the country’s problems. Any positive glow disappeared two days later, when Carter fired five of his top officials, including the Energy, Treasury and Transportation secretaries and his attorney general. The value of the dollar sank and the stock market tumbled. Sensing that Carter was politically vulnerable, Kennedy moved to present himself as an alternative for the 1980 Democratic nomination, publicly criticizing the president’s agenda. But Kennedy damaged his own candidacy in a prime-time interview with CBS’ Roger Mudd: Asked why he was running for president, Kennedy fumbled his answer, and critics cited it as evidence that the senator didn’t want the job so much as he felt obligated to seek it. A few months after the malaise speech, in late 1979, revolutionaries loyal to Iran’s spiritual leader, the Ayatollah Ruhollah Khomeini, seized the U.S. Embassy in Tehran, taking 52 Americans hostage. Weeks stretched into months, with Iran refusing all efforts to negotiate a hostage release. In April 1980, Carter approved Operation Eagle Claw, a secret Delta Force rescue mission. But it ended in disaster — mechanical trouble sidelined three helicopters and, after the mission was aborted, one of the remaining helicopters collided with a transport plane on the ground, killing eight soldiers. Secretary of State Cyrus R. Vance resigned before the mission, believing the plan too risky. Negotiations to free the hostages resumed, and Carter desperately tried to win their release before the November election. But the Iranians prolonged the talks and the hostages weren’t released until Jan. 20, 1981, moments after Carter watched Reagan being sworn in. The journey home for Carter was painful. Of those who voted for Reagan in 1980, nearly 1 in 4 said they were primarily motivated by their dissatisfaction with Carter. :::: Carter faced “an altogether new, unwanted and potentially empty life,” as he later put it. He sold the family farm-supply business, which had been placed in a blind trust during his presidency and was by then deeply in debt. Then, as Rosalynn later recalled, Carter awoke one night with an idea to build not just a presidential library but a place to resolve global conflicts. Together, they founded the nonprofit, nonpartisan Carter Center. His skill as a mediator made Carter a ready choice for future presidents seeking envoys to navigate crises. Republican President George H.W. Bush sent him on peace missions to Ethiopia and Sudan, and President Bill Clinton, a fellow Democrat, dispatched him to North Korea, Haiti and what then was Yugoslavia. Carter described his relationship with President Barack Obama as chilly, however, in part because he had openly criticized the administration’s policies toward Israel. He felt Obama did not strongly enough support a separate Palestinian state. “Every president has been a very powerful factor here in advocating this two-state solution,” Carter told the New York Times in 2012. “That is now not apparent.” As an election observer, he called them as he saw them. After monitoring presidential voting in Panama in 1989, he declared that Manuel Noriega had rigged the election. He also began building houses worldwide for Habitat for Humanity, and he wrote prodigiously. The Nobel committee awarded Carter the Peace Prize in 2002, more than two decades after he left the White House, praising him for standing by “the principles that conflicts must as far as possible be resolved through mediation and international cooperation.” During his 70s, 80s and even into his 90s, the former president showed an energy that never failed to impress those around him. In his 1998 book “The Virtues of Aging,” he urged retirees to remain active and engaged, and he followed his own advice, continuing to jog, play tennis and go fly-fishing well into his 80s. When his “White House Diary” was published in 2010, he embarked on a nationwide book tour at 85, as he did in 2015 with the publication of “A Full Life: Reflections at 90.” When he told America he had cancer that had spread to his liver and brain, it was vintage Carter. Wearing a coat and tie and a pair of blue jeans, he stared into the television cameras and was unflinchingly blunt about his prognosis. “Hope for the best; accept what comes,” he said. “I think I have been as blessed as any human being in the world.” Former Times staff writers Jack Nelson, Robert Shogan and Johanna Neuman contributed to this report. ©2024 Los Angeles Times. Visit at latimes.com . Distributed by Tribune Content Agency, LLC.Cava Group ( CAVA -1.82% ) was one of the better-performing names in 2024. Even after a recent pullback, the stock has risen by more than 175% over the last year, likely because many saw it as a second-chance Chipotle as it works to bring fast, healthy Mediterranean food to more customers. However, the stock has dropped almost 25% since early December. Hence, the question for investors: Is Cava in a temporary bear market and will continue surging in 2025, or will it face considerable pain as the value of the restaurant stock continues to slide? The state of Cava Group stock Admittedly, the narrative that Cava is "Mediterranean Chipotle" is oversimplified but difficult to ignore. Indeed, consumers and investors will probably recall that Chipotle built its success by offering healthy, reasonably priced food that is fast and delicious. Moreover, American consumers have grown more health-conscious in recent years, and various segments of the media have long promoted Mediterranean cuisine as a healthy alternative. Hence, the times seem to call for a fast-casual restaurant like Cava. Additionally, Cava's growth has outpaced Chipotle's. In the first 40 weeks of fiscal 2024 (ended Oct. 6), revenue of $736 million grew 34% compared with the same period in fiscal 2023. In comparison, Chipotle's revenue rose 15% over approximately the same period. Also, Cava's restaurant count, which had reached 352 at the end of fiscal Q3, rose 21% year over year, and its same-restaurant sales grew 11% during that period. Furthermore, its costs and expenses rose 28% during the first 40 weeks of fiscal 2024, slightly lagging the revenue increase over the same period. That led to a $52 million net income, well above the $12 million during the same time frame in fiscal 2023. Cava looks set to improve its performance, as it has guided for 12% to 13% same-restaurant sales growth for fiscal 2024. Since analysts predict 32% revenue growth for Cava for the fiscal year, it appears set for continued prosperity, at least for now. Cava's growing pains Nonetheless, the recent decline in the stock may face a challenge that tends to hurt growth stocks : slowing revenue increases. In fiscal 2025, analysts predict 24% yearly revenue growth. While that still represents robust growth, it also marks a significant slowdown from the last fiscal year. Moreover, it compares less favorably in other ways to its larger fast-casual rival, Chipotle. Unfortunately for Cava investors, this goes well beyond the fact that Mexican cuisine is more popular than Mediterranean food. Cava's goal of 1,000 restaurants by 2032 would approximately triple its number of locations. However, Chipotle intends to operate 7,000 restaurants in North America, not including its international plans (it operates over 3,600 locations now). Since Cava has not outlined any publicly outlined goals to expand outside the U.S., Chipotle may have a larger growth goal, even in percentage terms. Amid that future, valuation differences favor Chipotle. Cava's recent turn to profitability probably makes its P/E ratio a misleading valuation comparison. Still, Cava's price-to-sales (P/S) ratio of 15 is far above Chipotle's sales multiple of 8, which may leave investors wondering whether Cava is worth that extra expense. CAVA PS Ratio data by YCharts Where will Cava stock go in 2025? Given current conditions, investors should expect Cava stock to struggle over the next year. Indeed, with its rapid growth and potential to add new locations, Cava Group stock should prosper longer term, meaning current shareholders should probably not sell. However, slowing revenue growth tends to hurt stocks with high valuations, a factor that may have already begun to weigh on Chipotle's stock performance. Additionally, comparing Cava's valuation to Chipotle's highlights how expensive the stock has become, making investors less inclined to buy Cava shares. Ultimately, Cava Group stock should turn into a winning investment for long-term shareholders. Nonetheless, its long-term investment case appears more favorable than its potential performance in 2025.
BNY Wealth is bullish about US stocks and economic growth heading into 2025. Investors may be overestimating the dangers of Donald Trump's tariff policy on the stock market. A top strategist recommends five places investors should consider putting their money now. A top strategist at $2.1 trillion BNY Wealth is pushing back against the widely held concern that tariffs will trouble the US economy in 2025. Sinead Colton Grant, who's the chief investment officer at BNY Wealth, is once again upbeat about the US economy and stocks. Economic and earnings growth should keep outpacing their international counterparts in the year ahead, the firm's recently published outlook said. "One of the key themes in our outlook is, equities have room to run, and specifically with that, we mean US equities," Colton Grant said in a recent interview with Business Insider. Stocks will be buoyed by a low-double-digit increase in corporate profits, which will stem in part from tax cuts, and a healthy economic backdrop marked by steady growth and lower inflation, Colton Grant said. The high end of her year-ahead S&P 500 price target is 6,600, which would be an 8.4% gain from today's levels. Many other strategists agree with those points and have conjured up similarly bullish targets . Some investment chiefs see the S&P 500 rocketing even higher to the 7,400 mark. The market may be misreading the threat of tariffs There's a strong sense in markets that US equities could fall flat if Donald Trump's proposed tariff policy sparks another series of trade wars. The president-elect has floated tough tariffs on imports from top trade partners like China, Canada, and Mexico, as well as countries in emerging markets that he sees as opponents of the US . Related stories The consensus among mainstream economists is that tariffs can do more harm than good. Although these taxes on imports can generate revenue for the government while boosting a country's industries and narrowing the trade deficit, they can prompt counter-tariffs that weigh on exports, slow economic growth, and lead to higher prices that are borne by consumers. However, Colton Grant thinks that the widely held view lacks nuance. Tariffs are a highly complex economic instrument, she said, and it's impossible to fully game out their ensuing impact. "What seems to be happening across the industry is a straight read across, from 'tariffs equals higher prices equals inflation,'" Colton Grant said. "It's much more complicated than that." While Trump has threatened steep tariffs, the actual policies may end up having a more limited scope, Colton Grant said. She thinks the US will go hard after China, whose trade practices have been widely panned as unfair , though other import taxes may be less strict — if they happen at all. "When it comes to tariffs, we think that the day one priority of the administration will be China — tariffs on China — and that's also because of the intertwined national security implications," Colton Grant said. "The subsequent broader tariffs we anticipate are likely to have more negotiations with individual economies, and that will ultimately result in a more muted impact." It's also possible that Trump is bluffing , at least with tariffs on allies. Other countries know how much mutual harm a trade war could cause, so the businessman-turned-politician may use tariffs as a threat to accomplish other administration goals. But even if tariffs cause price growth to pick up again, that doesn't mean the world is in for a repeat of the multi-decade-high inflation from the early 2020s. Colton Grant said the economy should be able to bear a modest uptick in prices, and stocks could continue to hold up as well. "Rather than inflation long-term settling at the 2% Fed target, it's probably more likely in the 2.5% to 3% area," Colton Grant said. "That is very, very different than inflation at 8%, 9%. Equity markets do very well under those conditions. And so we think inflation probably settles at a slightly higher level than it did in the 2010s decade, but we actually viewed the 2010s as being more of an aberration." While economists would say that tariffs are a net negative for the US as a whole, certain industries could thrive under protectionist policies. One example Colton Grant cited is the US automobile industry, which struggles to compete with Chinese electric vehicles. Companies in the People's Republic have been known to employ " predatory pricing ," meaning that goods are artificially cheap due to either superior scale or exceptionally cheap labor. Once competitors fold, the predatory prices can then charge more. But it's worth considering that the US is also dependent on Mexico and Canada, which are in the tariff crosshairs. "There can be positive impacts that come through too," Colton Grant said. "But ultimately, the end impact is also going to be as a result of the other policies that the administration puts in place. It really seems to be focused on more of a supply-side orientation to the market." 5 places to invest whether or not tariffs take hold Regardless of what happens on the tariff front, Colton Grant and her colleagues at BNY Wealth see several sound investing opportunities in equity markets. The firm is especially bullish on large caps , which have performed admirably in recent years. Valuations for that cohort are elevated but not out of whack, in the firm's view, given their ability to consistently expand margins. Those looking for a less expensive investment may want to consider mid caps , which are preferable to their small-cap counterparts since they have less floating-rate debt in a world of elevated interest rates. As far as sectors are concerned, Colton Grant highlighted a trifecta of economically sensitive groups that stand out: financials , industrials , and energy . Financials have been among the best performers since Trump's win, due to Wall Street's outlook for fewer regulations, more deal activity, and a healthy economy. Industrials would also make sense if economic growth remains robust or even picks up. And energy is a growth beneficiary and a hedge against inflation, which may be helpful if the consensus view is correct.
