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LIRR riders are collateral damage in a much bigger hidden fight that could slam the entire MTA region with both higher fares and heavier taxes. 

The boxing champion gifted his 16-year-old daughter and his son-in-law the living wagon and a $40,305 honeymoon believed to be in the Caribbean.

“It started with a text message that said, Apple high alert,” the woman, identified only as Barbara, told WGAL.

In the fight over transgender athletes in women's sports, teen girls have taken the flak — while the 80% of Americans who agree with them stand by mute.

Former LA mayor and state Assembly speaker Antonio Villaraigosa hasn’t run the most electrifying campaign for governor. But he has been doing an admirable job in recent weeks of highlighting the most important reality in this campaign: California can’t blame Donald Trump for its problems. “We can’t put everything on Donald Trump,” he said last...

Combined NextEra-Dominion Would Have 130-GW Large-Load Pipeline

By Robert Walton of UtilityDive

Summary

• NextEra Energy plans to acquire Dominion Energy in an all-stock transaction announced Monday, potentially creating the largest regulated electric utility in the world — with 10 million customers in four states — if the deal passes muster with three state and two federal regulatory commissions.

• The companies have proposed $2.25 billion in bill credits for Dominion customers in Virginia, North Carolina and South Carolina, and they say all customers would see benefits from “enhanced scale in operations, procurement, construction and financing.”

• The combined company would have a more than 130-GW large-load pipeline of projects and a rate base of $138 billion, which it expects to grow at approximately 11% through 2032, according to the deal announcement.

Company officials frame the deal as a win for customers by maintaining operating stability and putting downward pressure on rates while allowing the combined utility company to grow faster and more efficiently. Customer advocates, however, warned of the deal’s potential impact on consumers, and analysts say it could signal shifts in the utility operating model and wholesale markets.

“The Dominion Energy name isn’t changing, nor is how we operate locally, serve our customers or engage with the community,” NextEra Chairman, President and CEO John Ketchum said in a statement.

NextEra Chairman, President and CEO John Ketchum speaks during a panel at the BlackRock Infrastructure Summit in March 2026, in Washington, D.C.

The merger has been approved by the boards of directors of Dominion and NextEra, and the companies say they expect to close the transaction in 12 to 18 months subject to approvals from a host of regulators. The deal must be approved by the Federal Energy Regulatory Commission, Nuclear Regulatory Commission, Virginia State Corporation Commission, North Carolina Utilities Commission and the Public Service Commission of South Carolina.

Customer advocate group Clean Virginia called for state officials to subject the proposed merger “to the most rigorous scrutiny possible.”

“This deal would hand control of Virginia’s electric grid to a company with a deeply troubling track record,” Brennan Gilmore, executive director of Clean Virginia, said in a statement.

“Before Virginia ratepayers are locked into a relationship with NextEra Energy, every policymaker and regulator in the Commonwealth needs to understand what NextEra has done in Florida,” he added, pointing to rate hikes and scandals around dark money political advocacy.

The companies say they plan to maintain dual headquarters in Florida and Virginia. NextEra owns Florida Power & Light, which serves 6 million customer accounts. Dominion serves 3.6 million electric customers in its three-state territory, and about 500,000 gas customers in South Carolina.

The combined entity would have an almost $250 billion market capitalization, which the companies said would make them the “world’s largest regulated electric utility business by market capitalization and one of the world’s largest energy infrastructure companies.”

Consensus data from S&P Global Visible Alpha paints a picture of two growing companies. Analysts expect NextEra to have total operating revenues of $30.6 billion this year, up 11.68% year over year; Dominion is expected to see total operating revenues of $18.4 billion, up 11.5% year over year.

Limited energy capacity remains a vital issue for the broad adoption of AI.

“This deal may support increased scale and efficiency in the space to support the ramp in data center compute,” Melissa Otto, head of research at S&P Global Visible Alpha, said in an email to Utility Dive.

The deal would combine “two well-run utility franchises,” Alex Kania, BTIG managing director and utilities and power analyst, said in a statement. There is some question about how the combination could impact operations in the PJM Interconnection, he noted.

“We believe [the deal] could mark a step to a return to the integrated utility model that has largely been abandoned over the past 10 years — but we think that model may end up being one of the better ways to address PJM resource adequacy. Stay tuned,” Kania said in a research note.

Dominion’s pipeline of contracted data center capacity now stands at about 51 GW, the company said earlier this month in its first-quarter earnings. And in Virginia, its largest utility market, Dominion sold 4% more electricity year over year in the first quarter of 2026. 

Dominion’s position in Virginia’s “data center alley” means the utility is “very well situated for large load growth,” Kania said. Its large load pipeline and PJM interconnection portfolio would pair with NextEra’s “vast generation development platform” of gas, renewables and storage.

The combined entity would be “one of just a few players in PJM that could readily offer comprehensive grid and generation solutions to large load,” Kania said.

The deal “makes much sense for NextEra to rebalance its business mix,” Jefferies equity analyst Julien Dumoulin-Smith said in a Monday note. NextEra’s unregulated business has been growing faster than its utilities, “a trend expected to continue,” he said. “Buying a regulated business has been important for years.”

The combined business would be “anchored by a more than 80% regulated business mix, with approximately 11% regulatory capital employed growth across four fast-growing states with constructive regulatory environments,” Dominion and NextEra said.

Officials expressed confidence in getting the merger across the finish line.

“We have some experience getting deals done,” Robert Blue, Dominion chair, president and CEO, said in a call with analysts. “We feel very good about the way the deal has come together, with the focus on customers and communities, and that gives us a high degree of confidence.”

Under terms of the deal, Dominion shareholders will receive 0.8138 shares of NextEra Energy for each share of Dominion they own. The companies say this will result in NextEra and Dominion shareholders owning approximately 74.5% and 25.5% of the combined company, respectively.

Tyler Durden Mon, 05/18/2026 - 20:05

His highest praise, though, was saved for a returning player:

Apocalyptic climate-change predictions were box-office gold for Hollywood but they did untold damage to the public psyche, economy and the average man's pocketbook. 

On Monday, the US Department of Justice announced that Brenda Lee Brown Armstrong, 64, of Marina Del Rey had been indicted on federal charges for illegally paying homeless people to register to vote. She now faces up to five years in prison for federal election crimes. In addition to registering homeless people to vote, Brown...

However, I’m told that ­“Elsbeth,” a current Thursday CBS-TV show in its third season, involves a gossipy character seemingly based on me. Really very seemingly. Really. Seemingly.

Clay Holmes’ absence has created an opportunity for the Mets to give a highly regarded minor league pitcher a shot.

Gerrit Cole’s return to the Yankees rotation from Tommy John surgery could be just days away.

Casa Tua Cucina on the long-vacant ground floor of the landmarked, former Williamsburgh Bank Tower, will add star power to the district’s  culinary scene.

These dangerous dimwits should be given a ride to Bellevue for a mental check up. Not the credential reserved for working journalists.

Almost All Non-Iran Tankers That Entered The Persian Gulf During The War, Have Successfully Exited With A Cargo

Despite a near-halt in daily Hormuz traffic, Bloomberg reports that almost all large non-Iranian tankers that have entered the Persian Gulf during the war appear to have successfully exited with a cargo, underscoring the emergence of a small group of shipowners willing to risk crossing the Strait of Hormuz.

At least 19 oil- and liquefied petroleum gas-carrying ships without Iranian links have both entered and exited Hormuz since March 1, according to vessel-tracking data compiled by Bloomberg. In contrast, about 100 such tankers that entered the Gulf before the conflict remain stuck for fear of attacks, the data show.

As noted above, merchant shipping through the vital energy chokepoint has - for the most part - ground to a halt since US-Israeli attacks at the end of February triggered a wave of Iranian retaliation and led Tehran to tighten its grip over the waterway. Yet a handful of vessels have been managing to cross under an array of schemes, including deals arranged at a government level (with payment in bitcoin) in some cases (and keep in mind that the numbers, both for ships stranded in the Gulf and those making the crossing, could be higher in reality, given many vessels in the region are switching off their satellite signals to protect against strikes).

Of the 19 ships to cross, seven have been linked to Greece’s Dynacom Tankers Management. The company has been one of the main firms to continue using the strait since the conflict began. In true honey badger form, the company is known to turn off its ship transponders and then to quietly make the Hormuz crossing usually under the cover of night. It is unclear if Dynacom had arranged any special arrangement with Tehran ahead of its crossings.  

The cargoes the vessels were carrying have largely been from the United Arab Emirates and Iraq. Of the rest, three were transporting oil from Saudi Arabia or a mix of oil from the kingdom and other Arab Gulf nations.

Only one large tanker that entered the Gulf after the war started hasn’t left, the data show.

The crossings are only a fraction of the typical Hormuz transits before the war, which accounted for about a fifth of the world’s oil supply.

 

 

Tyler Durden Mon, 05/18/2026 - 19:40

Tom Steyer is under fire for paying thousands to social media influencers who didn't always disclose the deals.

The "Who's the Boss" alum opened up about the lack of pay he receives from starring in the 1980s sitcom.

The "Who's the Boss" alum opened up about the lack of pay he receives from starring in the 1980s sitcom.

The Great American Squeeze Of 2026

Authored by MN Gordon via Economic Prism,

Does your American dream feel like it’s being put through a hydraulic press?

If so, you’re not alone. Between rising rent and gas prices, escalating grocery bills, and sky-high health insurance premiums, Americans are feeling a relentless squeeze from all directions. That’s the painful reality.

Recent economic numbers point to a weary consumer. In fact, consumer sentiment is at a 74-year low. To put that in perspective, Americans feel more pessimistic about the economy today than they did during the 2008 financial crisis, the stagflation of the 1970s, or the height of the 2020 lockdowns.

What’s going on?

Why does it feel like your paycheck is evaporating before it even hits your bank account, while the S&P 500 is hitting record highs over 7,400?

The answer has to do with the K-shaped reality of 2026.

For years, economists have tried to gaslight American workers and consumers. They blamed social media and partisanship. They reasoned that if your preferred politician isn’t occupying the White House, you complain a bit more to a pollster.

Several years ago, Kyla Scanton coined the term “vibecession” to describe a situation where the data looks fine on paper, but people feel bad in their souls. But what about when the data looks bad on paper?

Heather Long, chief economist at Navy Federal Credit Union, recently pointed out today’s reality. The vibes have officially been replaced by cold, hard financial pain. When the University of Michigan sentiment reading drops to 49.8, it’s not just because people are grumpy on Twitter. It’s because the cost of basic survival has outpaced the ability to pay for it.

What’s more, as middleclass families drown in debt, the wealthy flourish. This creates a highly visible divide that presages social instability.

A Tale of Two Americas

The fact is you likely took a pay cut last month. Even if your boss gave you a 3 percent raise this year, you’re still losing ground. With inflation rising at an annual rate of 3.8 percent, per this week’s CPI report for April, your real wages are in the red. Thanks to the U.S.-Israeli war in Iran the energy component of the CPI is increasing at an annual rate of 17.9 percent.

When consumer prices rise faster than your income, that’s not a vibe. That’s the real time erosion of your income. And this is just the beginning…

Joseph Brusuelas, chief economist at RSM, warns that as the supply shocks from the Middle East filter through the system, May is going to be even worse. We are essentially footing the bill for global conflicts through higher prices.

Yet the effects of inflation are felt differently throughout the economy. Those in the higher income brackets are benefiting from an inflating stock market. Retail sales are up 4 percent year over year. So, too, Disney recently confirmed that its domestic park bookings and cruise reservations remain strong through the second half of 2026.

Then there are those in the middle- and lower-income brackets who can’t keep up. They don’t own stocks. They don’t own a house with a 3 percent mortgage. For this group, personal loan applications are spiking. Credit card debt is at an all-time high. They’re also being forced out of their cars and onto the bus because they literally can’t afford the commute.

These diverging stories are both true. This is the tale of the K-shaped economy.

The top line of the K is heading toward the moon. These are the households earning $150,000 or more. For them, the squeeze is a gentle love pat. Their homes have skyrocketed in value, and their stock portfolios are thriving as the S&P 500 bubbles up.

The bottom line of the K, however, is a steep slide downward. This represents the bottom 50 percent of the income distribution. For these families, the resilience everyone has talked about for the last few years has finally hit a wall.

Quiet Desperation

When wages don’t cover the bills, people don’t stop eating. They reach for the plastic. Hence, there’s been a massive increase in people turning to personal loans and credit cards just to make it from one Friday to the next.

This is the latent phase of a recession. It doesn’t show up in the unemployment numbers (which are still a steady 4.3 percent) or the payroll data (115,000 jobs added in April). It shows up in the quiet desperation of an ascending balance on a 24 percent interest credit card.

When people finally get to the end of their credit card rope, we enter the demand destruction phase. This is when people are too broke to buy stuff. Lower-income households are forced to cut back on gasoline and non-essential spending.

There’s also a big picture issue coming into focus that Mohamed El-Erian, chief economic advisor at Allianz, has zoomed in on. Specifically, labor’s share of GDP has hit its lowest level in BLS history.

What that means is that of all the wealth being generated in the USA, a smaller and smaller piece of the pie is going to the people who actually do the work. In other words, more and more of the economy’s capital is being directed to the people who own the stocks, land, and the companies.

This is why the stock market is hitting record highs while the average worker feels like they’re drowning. The market likes muted wage growth because it means companies keep more profit. But for the person trying to pay rent, muted wage growth is a disaster.

Beyond the Siren

Regardless of whether the economy enters a full-blown recession, a large segment of workers and consumers are suffering a painful squeeze. For those being squeezed it adds insult to see people booking luxury cruises when they’re having to choose between buying gas or buying groceries.

As households max out their credit cards, we can expect to see a wave of defaults. If this persists, the banks may get nervous and tighten credit. This will make it even harder for the bottom half to get the loans they need to survive.

Also, with the cost of living so high, middle-class families are raiding their 401(k)s or stopping contributions altogether. People are trading their future security for today’s gas and bread.

The American worker and consumer have proved to be resilient over many years. They persevered through pandemic lockdowns, supply chain meltdowns, and years of inflation. But even the strongest rubber band snaps if you stretch it far enough.

The current sentiment data isn’t a vibe. It’s a warning siren. While the top earners continue to power the retail numbers and fill up the Disney parks, the foundation of the economy – the working and middle class – is being hollowed out by a combination of geopolitical shocks and a declining share of the nation’s wealth.

Until wages outpace the cost of a gallon of gas and a bag of groceries, the American consumer will continue to get squeezed. Alas, there appears to be no relief on the horizon.

With the Strait of Hormuz effectively shuttered, this squeeze will only intensify. As global energy flows cease, surging crude prices will inevitably bleed into your grocery bill. From the diesel powering delivery trucks to the fertilizers growing our crops, the cost of survival is headed for a painful, sustained peak.

*  *  *

Get a free copy of an important special report called, “Cash Machine – Why You Should Own this Mineral Royalty with a 12% Yield,” when you join the Economic Prism mailing list today. If you want a special trial deal to check out MN Gordon’s Wealth Prism Letter, you can grab that here.]

Tyler Durden Mon, 05/18/2026 - 19:15

Adva Lavie was running away from the Van Nuys courthouse in her designer duds after a rough morning in the court.