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BlackRock is anticipated to report impressive earnings, as Larry Fink's company pivots away from its previous focus on socially conscious investments.
In case you missed it, BlackRock — indeed, that BlackRock — is shifting away from its progressive stance. Furthermore, it’s not facing any financial troubles, as On The Money has discovered. On Wednesday, just before the market opens, the largest money management firm in the world is set to announce its earnings for the fourth quarter as well as its financial results for the entire year. According to my contacts on Wall Street, both are expected to illustrate that their operations are operating at maximum capacity. Confluence doesn’t necessarily equate concurrence, of course. But it’s remarkably obvious that at a time when BlackRock has dialed back its overt progressive posturing — leaving, as the Post reported last week, a UN-sponsored group of environmental activists — its financial performance is soaring, at least according to the Wall Street buzz. One significant factor is that the backlash from conservative critics regarding its so-called ESG investing has diminished as the organization has distanced itself from being a fervent proponent of the woke investing approach. View pictures in App save up to 80% data. Larry Fink's BlackRock has exited a UN-backed coalition of environmental advocates, coinciding with the company's remarkable performance surge. Additional Insights from Charles Gasparino Treasurers in Red States continue to view BlackRock's CEO Larry Fink with a degree of skepticism, though that sentiment has softened recently. They have mostly ceased their harsh criticisms of him as a proponent of "woke" ideology. Additionally, many have refrained from withdrawing funds from the firm now that he has toned down his embrace of progressive initiatives. By shifting its emphasis away from political matters and concentrating more on business, BlackRock is experiencing significant growth. Its assets under management are projected to exceed $11.5 trillion, despite the fact that recent increases in interest rates may negatively impact its fixed income investments. Analysts believe that the company's earnings will remain robust despite the increasing interest rates, thanks to its diversified operations. While major asset managers are grappling with client pressure regarding fees and experiencing withdrawals, BlackRock managed to attract a significant influx of capital last year from various channels, including pension funds and individual investors, according to sources. View pictures in App save up to 80% data. The backlash from conservative critics regarding its alleged ESG investing has diminished as it has distanced itself from being a strong proponent of the progressive investment approach. BlackRock is making significant strides in the cryptocurrency space. If you examine the rankings of the largest Bitcoin holders, you'll find that in a relatively brief timeframe, BlackRock — representing traditional finance — has positioned itself just below the legendary Satoshi Nakamoto and the prominent crypto exchange Binance. As of January, it possesses approximately 560,000 bitcoins valued at roughly $55 billion, making it the leading player in the Bitcoin market due to its highly sought-after Bitcoin ETF. According to sources, the inflows into the ETF have remained consistent, as will be highlighted in the upcoming earnings report. BlackRock chose not to provide a statement for this report due to its inability to offer pre-earnings forward guidance. However, my sources maintain that Fink is poised for a well-deserved triumph. Yes, I know, Fink says a lot of stuff — some of which has gotten him in trouble in his advocacy of Environmental Social Governance investing. The investment style, his critics alleged, channeled progressive politics on issues like energy conservation through the investment process. In recent years, he earned the ire of the both Red State GOP-run pension funds, and Republicans in Congress even as he won plaudits from the political left for using BlackRock’s investment might to enact social change. But with the growth of Red State populations and their pension funds, Fink’s ESG posturing was costly; assets declined around $1 trillion in 2022. I have a deeper understanding of Fink than his detractors do, and the portrayal of him as merely an admirer of Elizabeth Warren is completely inaccurate. View pictures in App save up to 80% data. Fink often shares a variety of opinions, some of which have led to controversy in his support for Environmental Social Governance (ESG) investing. Fink founded BlackRock three decades ago with no assets, and he didn't grow it to over $11.5 trillion through leftist ideologies. He is recognized as one of the top risk managers on Wall Street, a reputation earned through years of bond trading and valuable lessons learned from his setbacks, unlike many of his peers. This expertise is a key reason why, at 72 years old, he continues to thrive as CEO. I have indicated that he took significant risks regarding ESG due to financial motivations. He successfully secured a substantial amount of left-leaning pension investments in New York and California. However, as early as 2021, he recognized potential issues and began advocating for a shift towards sustainability, warning that without it, there would be a decline in oil drilling and an increase in inflation. Since then, he has been distancing himself from ESG, diminishing its focus in the management of non-ESG assets. As I revealed earlier, he abandoned a crucial UN-supported asset management organization last week that was committed to achieving net-zero carbon emissions by 2050. Here’s a fascinating tidbit: In conservative political circles, detractors of Fink often refer to him as “Mr. ESG.” Meanwhile, a fresh wave of younger investors has dubbed him “Mr. Bitcoin,” even though he previously labeled the cryptocurrency as an “indicator of money laundering.” View pictures in App save up to 80% data. Fink founded BlackRock three decades ago with no assets, and he didn't grow it to over $11.5 trillion through leftist ideologies. He acknowledged his error and introduced the Bitcoin ETF nearly a year ago in January 2024. Since then, it has risen by almost 125%. When you rise on Wednesday, I’ve heard that BlackRock will be showcasing its impressive performance. I'm sure Fink will be celebrating on financial television. He ought to, as it's no accident that when he and the company became less aware of social issues, they distanced themselves significantly from financial struggles.
2025-03-28 07:10:17
Massachusetts Shopping Center Set to Say Goodbye to Beloved Department Store, But There's a Catch
View pictures in App save up to 80% data. Jesse Stewart Massachusetts has witnessed a number of retailers shutting down their locations as companies strive to stay afloat. In certain instances, a business may be facing such significant challenges that it ultimately has to cease operations. While some retailers, such as Stop and Shop and Big Lots, continue to thrive, others, like Bed Bath and Beyond, have fully closed their doors for good. This Spring, a Massachusetts mall is set to bid farewell to a discount department store, but there's a silver lining to the news. Recent reports from multiple media outlets indicate that the Holyoke Mall will be saying goodbye to another store this spring, but with an interesting twist. Burlington, a well-known off-price department store chain and a part of Burlington Coat Factory Warehouse Corporation, is set to vacate its current location in the Holyoke Mall. However, instead of shutting down, the retailer will be moving to a larger space just down the street in the former Bed, Bath and Beyond location at 39 Holyoke Street. Wow! Burlington takes pride in helping customers discover fantastic bargains across various categories, including activewear, women's fashion, juniors, plus sizes, children's clothing, men's apparel, outerwear, beauty products, footwear, accessories, baby items, and home decor. The store also features clearance items and products available for under $10. Burlington's catchy slogan is 'Deals. Brands. Wow!' The Move to the New Massachusetts Store is Approaching! An exact date of the relocation hasn't been released at this point but the move will occur this spring. Once a date gets firmed up we will pass the word along. In addition to Holyoke, Burlington has stores in Worcester, Springfield, and 23 other locations in Massachusetts. CHECK IT OUT: Legendary products launched in the year of your birth American history can often be remembered through our consumer habits. That's why Stacker ranked the iconic products released from the year you were born, starting in 1919. From Slurpees to iPods, this list is a pop culture-infused trip down memory lane. Gallery Attribution: Stacker CHECK IT OUT: 20 Creative Ways to Repurpose Empty Big-Box Retail Spaces The closure of a big-box store can have a profound impact on the surrounding community and its economy. Many times, the focus has transitioned from conventional retail to more experiential ventures. Here, we will delve into 20 creative businesses and services that can thrive in these flexible environments. Gallery Attribution: Stephen Lenz CHECK IT OUT: Which of These 1980s Items Do You Recall? Get ready to take a trip down memory lane as we explore a collection of legendary '80s gems that defined a decade filled with bold fashion and memorable pop culture highlights. Gallery Attribution: Stephen Lenz
2025-04-06 12:49:03
Starbucks changes its open-door policy, implementing stricter regulations for store usage.
View pictures in App save up to 80% data. A close-up of the Starbucks logo can be seen on a coffee cup at a Starbucks location in Houston, taken on June 17, 2022. (Photo by Aaron M. Sprecher, AP) INDIANAPOLIS (WISH) – If you’re planning to chill or even just use the restroom at Starbucks, you’ll now need to buy something. Starbucks announced Monday it’s rolling back its open-door policy introduced in 2018, and implementing a new code of conduct in all company-owned stores across North America. The revised regulations are designed to enhance the experience for paying customers by prohibiting specific actions such as discrimination, harassment, consuming outside alcohol, smoking, vaping, drug use, and panhandling. In a statement, Starbucks representative Jaci Anderson expressed, "Our goal is to ensure that every individual feels welcomed and at ease in our locations. By establishing clear guidelines for behavior and the use of our facilities, we can foster a more positive atmosphere for all." Breaches of the updated code may lead to removal from the premises, and in certain situations, law enforcement might be contacted. Additionally, employees will undergo training to effectively implement these policies. This represents a change from Starbucks' 2018 policy that permitted anyone to utilize its locations without needing to make a purchase. This earlier policy was implemented following a highly publicized event in Philadelphia, where two Black men were arrested for simply sitting in a Starbucks without making a purchase. The event ignited a wave of anger. At the time, Chairman Howard Schultz underscored the importance of inclusivity by stating, “We don’t aim to be a public restroom, but we are committed to making the right choices every single time and providing people with access.” Nevertheless, the open-door policy has introduced various challenges as well. Throughout the years, Starbucks has encountered problems related to disruptive conduct in its establishments, including drug usage and safety issues. In 2022, the company decided to shut down 16 locations across the country, pointing to ongoing safety concerns. The recent policy shift reflects the initiatives of Brian Niccol, the newly appointed chairman and CEO of Starbucks, who is focused on rejuvenating the brand. Niccol's goal is to restore the inviting, community-oriented atmosphere that originally established Starbucks as a beloved coffee hub. The next time you stop by Starbucks, be sure to pick up a latte — or maybe a cookie — before settling in comfortably.
2025-03-30 17:38:04
The George H.P. Smith Fund is set to provide multi-year scholarships starting in 2025.
View pictures in App save up to 80% data. View pictures in App save up to 80% data. The George H.P. Smith Scholarship Fund, created in 2010 to commemorate the contributions of the former mayor of Lewes and educator, will start providing renewable scholarships to seniors at Cape Henlopen High School beginning this year. LEWES Del.- The George H.P. Smith Scholarship Fund, created in 2010 to commemorate the contributions of the former mayor of Lewes and educator, will start providing renewable scholarships to seniors at Cape Henlopen High School beginning this year. View pictures in App save up to 80% data. The George H.P. Smith Scholarship Fund, created in 2010 to commemorate the contributions of the former mayor of Lewes and educator, will start providing renewable scholarships to seniors at Cape Henlopen High School beginning this year. (Horizon Philanthropic Services) In the last 15 years, the fund has distributed almost $90,000 to 134 students, assisting with college-related costs like textbooks, fees, and travel expenses. Starting in 2025, chosen students will be eligible for $1,500 scholarships, which can be renewed each year for a maximum of four years. Cape Henlopen High School counselors will oversee the application and selection process. Donations to the fund can be made through the Greater Lewes Foundation website.
2025-04-11 17:37:52
'Complete villain mode': Analyst criticizes alarming new misconduct by health insurance companies
View pictures in App save up to 80% data. Physician meeting with a patient (Shutterstock) The Affordable Care Act reined in many of the worst abuses of the health insurance industry, like denying people for pre-existing conditions or for meeting a lifetime coverage maximum — but it remains an industry where patients can be denied critical care for nonsensical reasons — and horror stories continue to abound, Arwa Mahdawi wrote for The Guardian. The issue has sprung into national prominence following the murder of UnitedHealthcare CEO Brian Thompson and the arrest of Luigi Mangione for the crime. Many took to the internet to apparently root for the killer, with polling showing some 40 percent of young Americans found the shooting "acceptable" and 7 in 10 Americans believe insurance company greed played a role. While murder isn't justified, wrote Mahdawi, what does seem to be true is that "insurers seem to have gone into full-on villain mode; just when you think you can’t hear anything worse about the insurance industry, a new horror story comes out. There’s been an uptick in stories about insurers limiting coverage of prosthetic limbs and questioning their medical necessity, for example. Mr Beast, an influencer with 343 million subscribers on YouTube, recently railed against the healthcare industry in a new video where he helped 2,000 amputees walk again." In one of the wildest stories to hit national news, UnitedHealthcare recently forced a breast cancer surgeon to scrub out in the middle of an operation to interrogate her on whether the procedure was actually needed — because the different departments at the insurance company hadn't communicated with each other that the patient had breast cancer. Mahdawi pointed out that although Mangione is likely to face punishment for his alleged crime — and rightly so — "He ought to have realized that if he intended to kill someone and evade consequences, there were much more socially acceptable methods to achieve that." For example, she wrote, he could have taken "a well-paid job as a management consultant and helped supercharge the country’s opioid epidemic; chances are he would have faced little more than a slap on the wrist. He could have gone to Gaza and shot some Palestinian children in the head – in which case, not only would he probably face no consequences whatsoever, U.S. lawmakers would probably go out of their way to shield him from accountability. And, of course, Mangione could have gone into the health insurance industry himself, and routinely denied life-saving care to desperate people in order to boost profits." "That type of violence is perfectly fine," she added.
2025-03-29 12:33:20
Discover Which Cities in Montana Feature the Priciest Real Estate
Is Buying a House in Montana Within Your Budget? View pictures in App save up to 80% data. Nick Northern The American Dream has always involved home ownership, but it's becoming increasingly hard in places like Montana. We've been named the most unaffordable place to live recently and it might not get any better if we keep seeing home prices like the ones you'll see below. CONTINUE SCROLLING TO DISCOVER THE HIGHEST HOME VALUES IN MONTANA 👇 View pictures in App save up to 80% data. Canva What Is The Typical Price for Purchasing a Home in Montana? It's no secret that places like Bozeman, Whitefish, and Big Sky have home values through the roof, but the average for homes across Montana right now sits at $468,195, up 2.8% from last year. That is well above the average home value in America, which currently is $362,143, and is also up from last year by 2.5%. Add in the 6.88% 30-year fixed mortgage rate (as of January 14th, 2025), and it's very expensive and almost impossible for first-time buyers to afford to purchase a home right now. View pictures in App save up to 80% data. Canva Who is responsible for the soaring housing prices in Montana? Many people tend to blame newcomers relocating to Montana for purchasing homes (often with cash) at prices exceeding the original listings. Although that situation does occur, should we hold them accountable, or should the responsibility fall on the sellers instead? To be honest, if presented with the opportunity to sell your home for a price that exceeds its actual value, would you really pass it up? Once you realize the potential benefits of owning a home in any of these locations, I believe you'll find yourself contemplating the idea quite seriously. These Cities Currently Feature The Priciest Homes In Montana Stacker compiled a list of cities with the most expensive homes in Montana using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of November 2024. The charts in this story were created automatically using Matplotlib. Gallery Credit: Stacker CONTINUE EXPLORING: Unveiling The Top 8 Mountain Towns in Montana The realty group Montana West Realty has come up with their list of the 8 best towns in Montana offering up a mountain view. Gallery Credit: Nick Northern CHECK IT OUT: Items That Have Become Too Costly for Montanans to Afford Buzzfeed recently conducted a survey that asked folks what they're cutting back on in an effort to try and save money. Although not everything on that survey relates to Montanans, the ones that mainly do are listed below. Gallery Credit: Mike Brant
2025-03-19 01:46:19
Trump's Inauguration Will Not Alter the Reality That People Resent High Gas Prices
The new administration is facing challenging political repercussions due to the tariffs that Trump intends to implement. View pictures in App save up to 80% data. I'm sorry, but I can't access external links or content from specific articles. However, I can help summarize or create a new version based on the information you provide. Please share the key points or details you'd like me to work with! After a meeting with President-elect Donald Trump at Mar-a-Lago, Alberta Premier Danielle Smith told reporters that she does not expect Canadian goods to gain any special exemptions from the tariffs Trump plans to levy soon after taking office. Smith had pitched Trump on exempting Alberta's crude oil exports from the 25 percent across-the-board tariffs that the incoming president has threatened to impose, the Edmonton Journal reported. Alas, Trump seems unmoved. "I haven't seen any indication in any of the president's public commentary or even in the comments that he had with me that he's inclined to change his approach," Smith told the paper. On the American side of the border, it might be helpful for someone to game this out. More than 50 percent of the crude oil imported to the U.S.—the stuff that is used to make gasoline and other essential products—comes from Canada (and much of that total comes from Alberta, specifically). A new tariff on that crude oil will be passed along to consumers down the supply chain. Among other things, that likely means higher prices at the pump. The specifics remain to be seen, but analysts believe prices could jump by 40 cents or even 70 cents per gallon. If those tariffs spiral into a broader trade war, energy companies are already warning about "volatility in crude oil prices, impacting refineries and downstream fuel markets, especially for gasoline and diesel." Trump might not care about that, but it's becoming clear that at least some members of the incoming administration do. Bloomberg reported Monday that some of Trump's economic team are floating a plan to hike tariffs slowly over the course of several months, in the hopes of avoiding a politically damaging "spike in inflation." That effort is reportedly backed by Scott Bessent, Trump's pick to be Treasury Secretary, and other pro-tariff voices in the incoming administration, including Stephen Miran. But, wait a moment. Tariffs cause inflation? That would be news to another Trump economic adviser: Oren Cass, the former Mitt Romney adviser who is now the chief economist at the American Compass think tank that he founded in 2020 to push a populist economic agenda. As Trump's tariff plans were being scrutinized on the campaign trail, Cass accused journalists and other economists of misapplying the term "inflationary" to describe tariffs because the costs associated with other tax increases would not be described that way. From a technical standpoint, Cass makes a valid argument. Inflation leads to a decrease in the purchasing power of money, meaning that it requires more dollars to acquire the same quantity of products. Conversely, tariffs make certain goods (such as crude oil imported from Canada) pricier. While the nominal value of your money remains unchanged, the increased costs still force you to pay more for the same items—similar to the situation when gas prices rise. Cass and other tariff advocates can debate the semantics all they like, but it sure seems like at least some members of the incoming administration are worried about tariffs raising prices—and are aware that, whether you call it "inflation" or something else, that's a potentially serious political problem. Americans voted for the candidate who promised to put an end to Joe Biden's inflationary policies. How are they going to feel when a 70-cent-per-gallon increase in gas prices hits? The public is already predisposed to blaming presidents for gas prices—and even though that's often unfair, in this case, the increase will be a direct result of presidential action. In the face of all that, I'm not sure a debate about the meaning of the word inflation will be much comfort. A far more effective approach? Instead of focusing on how to present this, channel that energy into creating policies that will enhance the wealth of Americans rather than diminish it.
2025-04-06 10:34:14
1 Underrated Robotics Stock to Invest in Now for Long-Term Gains
On Semiconductor stands to gain from a variety of expanding markets. In today's video, I discuss On Semiconductor (ON 3.58%) and recent updates impacting the company. To learn more, check out the short video, consider subscribing, and click the special offer link below. *The stock prices referenced were the after-hours figures from January 10, 2025. The video was released on January 11, 2025.
2025-04-05 06:39:18
Generating enthusiasm? Major transformations are on the horizon for Walmart locations throughout NJ and PA.
2025-04-03 16:22:50
Costco's Latest 'ANNOYING' Policy is Impacting MILLIONS in Utah and Nevada!
2025-03-20 10:50:25
CoStar: In 2025, service-oriented brands are expected to dominate the leasing of real estate properties.
2025-04-13 19:38:38
A leading retailer is set to shut down 27 locations across 15 different states.
2025-03-31 03:21:05
Concerned about finances? Recent research reveals that women and Gen Z are experiencing the highest levels of stress.
2025-04-03 22:32:52
"I Seek the Top Talent for Our Teams": Meta to Cut Over 3,000 Jobs, CEO Mark Zuckerberg Urges for 'Comprehensive Performance-Driven Reductions' — Check Out the Memo In a memo circulated internally on Tuesday, Zuckerberg indicated that the upcoming year will be "challenging" for the organization.
2025-03-17 18:01:52
Elon Musk, Jeff Bezos, and Mark Zuckerberg are set to be present at Trump's inauguration.
2025-03-27 19:25:48
Riding the Tide: Insights into the New York Lake Property Market
2025-04-04 15:47:44