The Wall Street Journal - 08.08.2026.pdf

WIDE THE WALL STREET JOURNAL WEEKEND OFF DUTY 一个不错的交易比你想象的要简单 DOW JONES Wood Shop 2026年8月8 - 9日，星期六-星期日 - 第CCLXXXVIII卷 第33期 WS3.com 美国版

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商业 金融

● 美国劳动力市场在7月减少了就业岗位，这种出乎意料的收缩可能会引发人们对经济基本实力的质疑，而此时经济还面临着高企的通货膨胀。A3 ● 美国股市在截至周五的一周内上涨，标准普尔500指数创下纪录。该大盘指数上涨3.05，纳斯达克指数和道琼斯指数分别上涨5.25和2%。B10 ● OpenAI 暂停了部分即将推出的人工智能模型工作，因为评估使该公司得出结论，该模型“无法承担关键的网络能力”。B9 ● 3G 设立了对冲基金 Situational Awareness，在金融领域进行了大举押注。Foundry 是一家旨在重新定义芯片制造方式的私营公司。B10 ● 温蒂汉堡撤回了其业绩展望并削减了季度股息，这家快餐连锁店正努力扭转其业务局面。B9 ● 福特告知汽车经销商，它打算首次生产其热门车型野马（Mustang）的四门汽油版本。B9 ● 安德玛及其年度营收展望，因为市场对该运动 / 瑞士产品的需求继续低迷。B9

全球动态

● 伊朗誓言禁止美国海军在摩洛哥海峡（Strait of Moroccan）过度通行，这是重新开放撤军协议的一部分，其目标是削减美国在波斯湾数十年的军事存在。A3 ● 土耳其、沙特阿拉伯和巴基斯坦签署了一项共同防御协议，旨在通过两种方式共享安全，以应对中东多年的动荡。A3 ● 路易斯安那州参议员比尔·卡西迪表示，他将投票确认托德·布兰奇担任司法部长，从而为领导 Justice Department 扫清必要路径。A4 ● 特朗普否认试图解雇美联储理事丽莎·库克，后者对抵押贷款欺诈指控做出回应，库克称其为商业行为。A3 ● 国防大学发布了一项新的美国安全许可，涉及一名前拜登政府高级国防官员，理由是其涉嫌泄露关于空军 Dow 的机密信息。A4 ● Expedia 的一名成员在具有重要意义的城市卡利宣誓就任哥伦比亚总统，誓言要打击贩毒帮派。A3 ● 一组纽约市房主采取行动延迟市长 Zelon（已吸收）推出的一项房产税，该税项适用于价值在 500万美元 或以上的房产。A3

佩吉·努南 (PEGGY NOONAN)

证券将要——而且情况严重。A13

目录

债券... 10

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那名青少年在校园开枪

惊恐：在曼谷郊外的一所学校，一名14岁男孩在周五开枪，导致五名工作人员死亡，20多人受伤，家属随后与孩子团聚。警方表示，该袭击者在自杀前已枪杀了他的两个祖父母。A3

面对 AI “末日”，软件公司竞相寻求转型

生成式人工智能正以摧枯拉朽之势冲击曾经繁荣的软件即服务（SaaS）行业 作者：Kaye Caan

萨基尔·阿加瓦尔（Sakil Aggarwal）在 2025. 创立软件公司的时机似乎非常完美。他从投资者那里筹集了近 3000万美元，到次年，他的初创公司 Rattin 的估值已超过 1亿美元。随后，生成式人工智能出现，能够轻松自动化 Rattin 所擅长的行政类工作。阿加瓦尔尝试整合 AI，但他表示，这感觉就像给马车安装发动机。该公司正面临危机：他说，“如果两个工程师能在几周内复制你的整个产品，那么你就活该被淘汰。”

生成式 AI 正在摧毁曾经繁荣的软件即服务（SaaS）行业。在 模式下，客户通常通过订阅方式在互联网上访问软件。 在 2000s 爆发，Slack 和 Zoom 等公司从风险投资机构筹集了数亿美元，其他公司则在规模巨大的 90's 中上市。现在，硅谷的人们正忧心忡忡地谈论“ 末日”（-pocalypse）。

AI 威胁要使某些软件贸易变得过时，尤其是那些围绕法律起草、研究和其他重复性工作等狭窄任务构建的软件。在过去一年中，Workday、Salesforce 和 Adobe 等上市 公司的股价从峰值下跌了 20% 以上。IBM 在 7 月的一天内市值蒸发 690 亿美元 billion，此前该公司发布了利润预警，称客户支出已从软件转向 AI 硬件。

本周早些时候，综合企业 Halper Inc. 旗下的 funding lipsons 同意以 13 亿美元 billion 收购工作流软件公司 Danielle，这远低于该公司上次私有估值的 310 亿美元 billion。 公司正面临巨大的压力要求其重新定义自身。在董事会内部，领导者们讨论了这种风险——请参阅 A20 页

唯一葡萄酒依然主宰的地方：30,000 英尺的高空

葡萄园突然开始竞争航空公司的业务，而飞行员们对此全盘接受 作者：Lacha Cowan

当弗兰克斯（Franks）先生今年早些时候登上前往加利福尼亚州法国（France, Calif.）的航班时，他带了几样东西来消磨时间：24 瓶葡萄酒，从 Frank Rice 到 Sauvignon Blanc。弗兰克斯将打开每一瓶酒作为自己的使命，他说：“在飞机上用 24 瓶酒能交到这么多朋友，真是太神奇了。”

在 30,000 英尺的高空斟酒是弗兰克斯工作的一部分，他致力于在航班上提供服务。但由于酒精消费中出现的一个最大反常现象，他的同行很多。虽然葡萄酒在认证饮酒者中的吸引力正在下降，但它正日益成为空中首选的饮品。

随着销售额攀升，那些曾经对航空公司不屑一顾的酿酒师们现在正竞争将其最好的酒款送上飞机。航空公司将其视为针对高付费乘客的营销工具。至于乘客，当你被困在机舱、感到无聊且通常处于度假模式时，很难拒绝那杯葡萄酒。而且，在飞机的后部，这很难拒绝。请参阅 A10 页

俄罗斯的明星初创公司是制裁突破者

作者：Karasinska Ourevich

俄罗斯在乌克兰的攻势可能正在减弱，但俄罗斯拥有一个高科技超级武器来抵消西方制裁。它被称为 3.0. 这个由国家支持的支付网络在俄罗斯境内外转移资金，无视美国和欧洲试图将莫斯科从全球领先系统中剔除的努力。

A7 帮助俄罗斯支付从军事无人机零件到豪华车以及进口水果的所有费用，通过结合加密货币和银行交易，同时利用数据公司和 AI 生成的流程掩盖其真实目的，研究人员表示，在其外壳之下是一个受限的洗钱网络。A7 的创始人这次因其在最大银行丑闻之一中的角色而闻名——

就业人数缩减，经济面临新考验

作者：Mert Geomass

美国劳动力市场在7月份出现了就业人数减少的情况，这种出乎意料的收缩可能会在经济面临高通胀的时刻，引发人们对经济基本面强度的质疑。

劳工部7月份的就业报告显示，上个月经济减少了 23,000 个工作岗位，与《华尔街日报》调查消费者预期的增加 8,000 个岗位相比，缺口巨大。对5月和6月工资单数据的修正显示，这两个月经济增加的就业人数减少了 103,000 个。

疲软的就业数据促使投资者降低了对美联储在下次会议上提高利率的预期—— 5 个月。标准普尔 500 指数周五上涨 0.6% 至历史最高点，而道琼斯工业平均指数上涨 10 点，即 0.1%。纳斯达克综合指数上涨 1.3%。国债收益率小幅波动。请参阅 A2 页。

劳动者减少使失业率保持低位

作者：Justin Lasser

本周的年度就业报告回应了美国经济的一个迫切问题：它实际上需要多少个新岗位？

劳工部周五报告称，美国在7月份减少了 23,000 个工作岗位，并下调了5月和6月的数据。据此，数据显示在过去六个月中，经济每月增加 44,000 个工作岗位。这虽然不如去年下半年，但与人们过去认为的健康状态相去甚远。

然而，失业率已从今年的 4.4% 下降至 4.1%。这表明，美国可能不需要创造那么多岗位，就能跟上新劳动者供应趋势的步伐。婴儿潮一代中最年轻的人今年年满 42 岁——达到了领取社会保障退休金的年龄——而国内出生的美国工人供应量较低，无法填补其空缺。与此同时，特朗普总统对移民的打击限制了……请参阅 A2 页。

汇率

无表格

在研究人员关注的餐厅混乱业务背后。B1

伊朗寻求将美国驱逐出海湾

伊朗誓言禁止美国海军战舰通过霍尔木兹海峡，这是重新开放该水道协议的一部分，旨在推进其削减美国在波斯湾数十年军事存在的目标。作者：David S. Cloud Summer Sand, Alexander Word 和 Benoit Paeces。

这一工业威胁凸显了伊朗领导层内部对伊斯兰革命卫队中强硬分子的回避，后者长期以来一直寻求将美国军队从该地区驱逐。尽管伊朗采取了毁灭性的军事姿态，但其领导人现在将谈判视为在六个月的战争中将美国作为波斯湾主导力量驱逐出去的机会。

伊朗官员在与阿曼的谈判期间公开发出了这一威胁，阿曼位于攻击南海岸，正与德黑兰进行讨论。美国官员今天告诉随从，他们认为伊朗对德国交通的限制存在风险，这是华盛顿与德黑兰之间导致协议无法完成的几项冲突之一。请参阅 A6 页。

tory 一项在 2014. 年从巴哈马（欧洲最贫穷的国家之一）的三家银行中榨取 30 亿美元 的计划。巴哈马法院认定他犯有欺诈和洗钱罪，因为他协助策划了这次盗窃，但他在被软禁期间离开了该国。她否认了这些指控，并称其具有政治动机。这位商人，一个被迫成为 3-manian 流行歌手的人，现在住在莫斯科附近。

一名 30 岁的女性领导者，Shee 在 A7 的内部公司中被称为“Toronto”，据 Gainsborough 称，该公司去年遭到黑客攻击。50' 和 Shee 的代表未回应置评请求。

成立于伊朗两个。请参阅 A9 页。

● 俄罗斯与德国的无人机有关... A3 ● 沙特阿拉伯、土耳其和巴基斯坦签署部分... A6

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A2 / 周六 / 周日，August 9 - 9, 2026 ... 华尔街日报。# 美国新闻

特朗普重启罢免美联储理事的努力

此前最高法院的一项裁决阻止了早前的一次罢免尝试 作者：Matt Goodman 和 Beth Lauer

华盛顿——特朗普总统正重启其罢免包括丽莎·库克（Lisa Cook）在内的美联储理事的尝试，此前库克被指控涉嫌抵押贷款欺诈，她称这些指控毫无根据。白宫副法律顾问约翰·多尔（John Dole）本周向库克发送了一封信，称总统正基于相关过失和错误“考虑将你从现有职位上撤职”，并要求在10天内提供书面答复。

最高法院在6月阻止了特朗普在缺乏实质性法律审查的情况下罢免库克。白宫的这封信旨在通过一种能够满足法院法律标准的方式发送罢免信息。官员们表示，特朗普引用了一项由一名高级官员发起的刑事指控。该指控称，库克在2023,年在其主要住所的抵押贷款文件中提供虚假信息，以从贷款机构获得更优惠的条款。

特朗普没有给库克正式的机会来反驳这些指控。她否认有任何不当行为。她的律师表示，这件事最严重的情况也只是一个无意的错误，且这些指控仅仅是特朗普试图通过干预货币政策来影响美联储裁决的掩护。

“这些指控现在和一年前特朗普总统试图剥夺美联储独立权利时一样站不住脚，”库克的律师迈克·洛威尔（Mike Lowell）周五表示。“就像我们之前所做的那样，我们无法接受这一指控，并将维护她的职位以及美联储的历史角色。”

在财务申报中，库克报告称，在为保住工作而斗争期间，她的法律费用已增加到超过100万美元，但这些费用由第三方承担。

这场风波始于2023年8月，当时特朗普试图罢免库克，在社交媒体上发帖称她“必须离开”，并发送了一封信通知她他立即将其撤职。这是中央银行历史上首次出现总统试图罢免其理事的情况。作为回应，库克提起诉讼，称特朗普缺乏罢免她的理由，尤其是在没有实质性正当程序的情况下。最高法院裁定，如果没有一些最低限度的程序保护以允许当事人进行辩护，她不能被罢免。

白宫发给库克的新信件实际上标志着一次新的罢免尝试。“由于刑事指控中的指控影响到你的诚实、陈述以及履行当前职务的能力，总统认定有理由相信可以启动以‘正当理由’（cause）将你从职位上撤职，”信中写道。

在4月的确认听证会上，被特朗普任命的美联储新成员凯文·尚克（Kevin Shank）被问及对此的看法。他以当时最高法院正在进行的诉讼为由，拒绝分享其观点。美联储的一位发言人周五拒绝置评。

在前任主席杰罗姆·鲍威尔（Jerome Powell）任内，这家中央银行一直是特朗普持续不满的来源，鲍威尔的任期于5月结束。特朗普认为美联储将利率维持在比他希望的更高水平。特朗普对鲍威尔的攻击在去年达到顶峰，当时美国司法部（DOJ）就鲍威尔在国会关于一名非吸烟者的证词启动了刑事调查。随着一名共和党参议员拒绝支持在众议院开展的调查，该调查在今年春天被终止。鲍威尔此前面临潜在的指控。

面对美联储未来的问题，该机构在领导层任期方面的情况如2月鲍威尔的案例所示。“我没有，引用关于美联储独立性的规则。特朗普对库克的新威胁可能会让他陷入困境。鲍威尔的任期将于2028年1月结束。经济学家和政策制定者可能一致认为，美联储独立于政治至关重要——这是一个长期存在的原则，旨在防止利率政策受到国家自身考量的升级影响。”沃德对美联储独立性受到白宫关注的威胁不屑一顾。关于美联储独立性的质疑在沃德担任主席的短暂任期内一直未能消除。沃德与特朗普经常通过电话讨论经济，在美联储与白宫之间建立了一种异常密切的联系。自沃德接手后的过去10天里，美联储一直维持利率稳定——而高企的关系导致包括库克在内的许多美联储政策制定者讨论提高利率，而非降低利率。美联储的新法律和官员们在利率问题上，在沃德主持的两次会议上，他与委员会大多数成员共同誓言维持利率以维持美联储的业务。该禁令将美联储在沃德任期结束前未能降息的原因归结于他所谓的“一个极具政治色彩的董事会”。沃德也是在2022年由总统乔·拜登任命进入美联储董事会的。组成系统占据了两个董事会席位。特朗普压制鲍威尔，而鲍威尔是由总统巴拉克·奥巴马任命进入美联储的。特朗普后来分享了他们的主席，且拜登重新任命了他。

经济面临新考验

（接第一页）

根据劳工部每月的家庭调查，周五的数据显示，更多美国人完全退出了劳动力市场。因此，尽管就业人数减少，失业率仍从6月的4.2%上升至4.7%。招聘规模的大幅缩减标志着劳动力市场的转变，而该市场在今年早些时候似乎还处于扩张状态。然而，高企的通胀可能仍将是美联储的主要关注点。

政府职位的流失将7月的数据拉入了负值区间。但私营部门的招聘表现同样疲软。总体而言，私营雇主增加了36,000个工作岗位。一个可能的亮点是该国的建筑业，上月增加了12,000个工作岗位。制造业增加了5,000个。但休闲和酒店业是最重要的市场——在6月进一步削减之后——而零售商则裁减了超过10,000名员工。

私营部门的教育和医疗保健岗位增长了

7月部分行业的薪资人数较6月变化（单位：千人）。（权益）25,000，对于过去一年来一直是大规模新增就业来源的行业来说，这是一个相对糟糕的结果。

尽管失业率有所波动，但那些期待7月强劲招聘的“坚定者”在最新的就业数据中看到了1018到1500的数值。第五金融（Fifth Financial）首席经济学家Lois在给他们的一份评分中写道：“7月的就业报告并非最糟糕的情况。”

美国银行（BoardofAmmonia）经济学家Eric Wingstad表示，统计噪声可能拉低了政府就业总数，并可能解释7月的部分疲软。但大幅下调的趋势指向了更广泛的担忧。Wingstad表示：“7月是一个需要进行大规模季节性调整的月份，但你不能再次将5月和6月的下修简单地解释掉。”

在过去的两个月里，劳动力人口减少了近100万名工人，经济学家尚未能为这一大幅下降确定明确的原因。特朗普政府移民条件的加速是自然的研究对象，但许多分析师认为这些因素并非故事的全貌。这一趋势拉低了失业率。因为这意味着更少的人在竞争有限的可用岗位，这充其量是一个微小的福音，因为它意味着劳动力规模限制了经济的增长潜力。

7月的报告以及下调的收入，使得就业市场突然显得动摇，并可能让美联储官员在推进一些人正在考虑的9月加息之前暂停思考。这些数字为央行呈现了一幅模糊的图景。它旨在降低失业率，但上个月失业率的下降原因不对。

修订后的统计数据可能会让美联储继续关注市场低点。这导致在美联储上个月的会议上，三位官员持异议并支持加息，而其他人最近则建议加息可能是最佳方案。截至周五，市场对其下个月美联储将进一步加息的押注略有减少。

在会议之前，美联储将获得大量额外数据以供参考，包括另一个月的就业市场数据以及7月和8月的通胀数据。自5月起担任美联储主席的Kevin Shank对其对最新市场的解读闭口不谈，这符合他认为投资者应形成自己判断的哲学。

在周五数据出炉前，经济学家发现官员们经常争论，一个更稳健的就业市场应该让美联储对过去的一些因素感到放心。“下周的通胀重新演变的变化对美联储至关重要，”标准普尔全球评级（S&P Global Ratings）首席美国经济学家Satham Tanaka表示。

周五的报告标志着连续第二年，7月份的数据包含相对于前几个月数据的重大负向修正。当2023年7月的数据公布时，5月和6月的总数被合计下调了285,000人，这导致特朗普总统解雇了劳工部统计机构的负责人埃里卡·麦克唐纳（Erika McDonald），随后情况变得更加严重。该年度的月度调查对于协助现实生活中的税务经济学家而言是一项常规工作。这些调查是必要的，因为在需要确定人员总数的约125,000名员工中，许多人提交回复较晚，甚至根本不提交。连续第二年出现大规模负向修正，可能会促使经济学家为该季度寻找更深层的统计解释。甚至在周五之前，美国人就表示他们对最新的市场感到不安。开始的招聘和裁员让许多人看起来很沮丧。近几个月来，超过四分之一的失业者寻找工作的时间超过六个月。该报告于7月发布，这有时意味着那些陷入长期且令人沮丧的求职过程中的人们已经完全放弃。该报告基于研究机构 Conference Board 在2023年的一项调查，该调查显示，认为工作机会充足的人数依然很多，而21.5%的人表示工作难以获得——这是自2021年以来最不利的比例分布。

失业状态 法律 面对 持续（接第一页）

进入劳动力市场的外国出生人口供应。一些经济学家预计未来几个月的情况将与之相似。“我的猜测是，如果说今年剩余时间会有什么变化，那就是就业增长将比我们目前看到的更慢，”美国企业研究所（AEI）的 Data Venger 表示。在与布鲁金斯学会（Brookings Institution）以及美国 Eablining and Tato Watson 共同开展的一周工作中，Venger 指出，就业市场每月需要增加约 12,000 个工作岗位才能维持失业率稳定。

周五报告的某些方面表明，竞争限制正在产生影响。劳动力参与率——即工作或积极寻找工作的人口比例——在广泛的年龄组中有所下降。巴克莱银行（Barclays）的经济学家在周五写道，这“与移民限制的叙事相一致”。

此外，根据 Steve Kudry 的数据，经季节性调整后，外国出生人口的失业率从 1 月份的 8% 下降至 10.2%。这可能是因为参与劳动力市场的外国出生工人——例如持有绿卡的人——在求职时变得更加容易。

雇佣大量移民工人的建筑业上个月增加了 22,000 个工作岗位，增幅集中在可能继续从床边受益的贸易收缩周。但同样高度依赖移民的休闲和酒店业则减少了 40,000 个工作岗位。

在某种程度上，潜在工人供应的减少表明，即使创造的就业机会不像过去那样多，劳动力市场仍可被视为健康。这是低失业率传递出的一个信号。

对于美国整体经济而言，情况可能更为复杂。这是因为经济依赖于劳动力市场的两个大引擎：劳动力的增长，以及工人工作效率的增长，即生产率。

人口老龄化以及美国需要支持他们而所需的劳动力，共同构成了支持面板。根据国会预算办公室（CBO）的估计，目前美国约有 4600 万 人年龄在 40 岁或以上。CBO 预计，10 年后这一数字将增加到 7500 万。

这可能会带来 10% 的影响。经济学家对新技术普遍达成共识的少数观点之一是，它将提高生产率。但他们通常认为，这些生产率的提高尚未广泛显现。

新员工正在密集地使用 AI，虽然劳工部表示近年来生产率有所回升，但巴克莱银行的经济学家认为这可能更多是 Covid-19 冲击后劳动力市场重新调整的结果。尽管 AI 投资一直以极快的速度进行，但工人及其企业适应新技术需要时间。你不能直接给某人一把真枪就指望他们知道如何使用它。

这可能意味着，至少在接下来的几年里，经济可能无法快速增长，或者至少在大多数人的失业率下降之前无法快速增长，因为劳动力市场收紧通常会推高通胀。

另一种选择可能是美国扩大其劳动力池。例如，日本一直在与人口老龄化作斗争，但它成功地将更多女性引入市场。日本 25 至 34 岁女性的积极就业率可能已达到 96%，而 2020 年约为 87%。在美国，25 至 34 岁女性的劳动力参与率在 1998 年和 2020. 年低于 2003 年的 77%，截至 7 月为 77.8%。

华尔街日报 © 2026 John White House, College, 2026 6th Floor, Columbia College, 2026 6th Floor, 1100 2nd , 1100 2nd , 1100 2nd , 1100 2nd 编辑与出版：华盛顿特区，10月 7-10, 美国，纽约，纽约州，美国 本报已出版并发行多年。本报已 出版多年。本报已 出版多年。编辑与出版：华盛顿特区 阅读与评论：您的销售报告是什么？作者：John Greenhalgh，执行董事，董事会，2026 6th , 1100 2nd , 1100 2nd , 1100 2nd , 1100 阅读与评论：您的销售报告是什么？作者：John Greenhalgh，执行董事，董事会，2026 6th , 1100 2nd , 1100 2nd , 1100 2nd , 1100 阅读与评论：您的销售报告是什么？作者：John Greenhalgh，执行董事，董事会，2026 6th , 1100 2nd , 1100 2nd , 1100 2nd , 1100 2nd , 1100 # 更正与修正 美国已提议在2026年另一场全球危机期间向日本提供贷款。储备设施用于向您干预。周四的“Rummus & Finance”板块中的美国专栏错误地称日本已经使用了美国设施。周五一篇关于华盛顿特区的Masson文章中的地图最近也被错误地标注为独立城市亚历山德里亚。亚历山德里亚县的标注也将华盛顿最西北部的five-hall社区放置在了比实际位置更远的地方。电视节目《关于你的10件事》（10 Things I Have About You）的标题在周五上午 10:00 a.m. 之后的一篇Masson文章中有一处被错误地写成了“10 Things I Have About You”。读者可以通过发送电子邮件至 respsmated@waj.com 或拨打 800-352-5000 向《华尔街日报》报告新闻文章中的任何错误。--- 华尔街日报 ... 美国新闻 周六 / 周日，2020年8月 9 - 9, 2020 / A3

临时寓所税实施引发诉讼

作者：ROBERT S. PETRITT

一群纽约市的房主正在提起诉讼，以推迟市长爱德华·马姆达尼（Edward Mamdani）即将实施的临时寓所税（pied-à-terre tax）。这是针对该项约一个月前生效的新附加税的一次早期法律挑战。

该诉讼并非反对这项税收本身，而是主张该法律的执行方式不当。诉讼指控财政部在识别豪华临时寓所所有者方面未尽到适当的尽职调查。相反，诉讼称市政府非法地将证明责任转嫁给业主，要求其证明自己不适用该税，而非由市政府官员自行核实。

州法律要求财政部“根据可用信息”（如纳税申报单、财产评估和其他记录）对谁应缴纳临时寓所税做出“初步判定”。该诉讼称，市政府破坏了这一流程，结果导致许多长期居住在纽约的人员受到影响。

马姆达尼政府未回应置评请求。

这项新的临时寓所税适用于价值 500万美元 或以上的住宅，且业主并非纽约市的主要居民。马姆达尼将该税项视为他兑现竞选承诺、通过其议程对城市征税的证明。

该税于 7 月 1 日生效，但自那时起，其执行过程一直混乱不堪。一些纽约人表示，尽管他们已经在住所中居住了多年甚至数十年，但仍被错误地认定为临时寓所所有者。

“这项附加税的实施是一场灾难，”原告律师兰德·马丁（Rande Martin）表示，他今年夏天还对马姆达尼之前的相关政策提起过诉讼。“它试图将证明责任转移给纽约市的房主，让他们证明自己居住在这里。”

马丁曾担任市长埃里克·亚当斯（Eric Adams）的副市长，他表示，财政部在试图识别豪华临时寓所时，撒网范围过宽。

上个月，财政部公布了一份初步税单，其中包含 962,000 处财产，称其可能适用这项第二套房税。马姆达尼的办公室表示，这仅是一个起点，其范围远比最终需要纳税的人群广泛。

财政部还向一个规模较小的群体（约 12,000 名房主）寄送了警告通知，认为他们可能适用该税。市政府官员在 8 月 30 日之前必须通知潜在的纳税房主其新的税单。

诉讼称，加速推进该流程使得更难考虑所有可用信息，从而无法正确确认谁应纳税。原告请求法院推迟该税项的实施，并强制市政府重新执行该流程。

美国联邦航空管理局（FAA）要求对波音MAX客机进行检查

作者：GORDON YOUNG 和 ARTHUR TUNEL

美国联邦航空局（FAA）已要求对波音 707 MAX 客机进行检查，以排查机身是否存在裂纹。该机构表示，在部分 707 机型的其中一扇舱门周围的结构加强件上发现了裂纹。

FAA 周四发布的指令适用于美国的 673 架客机，涵盖特定的波音 707 MAX 9, 707 MAX 9 和 707-8200 机型。波音公司表示，在较新型号的飞机上尚未报告发现裂纹，但预计航空公司将按照检查时间表执行，并在发现任何裂纹时立即进行维修。

波音曾在 2008 年发布过一份关于潜在裂纹的公告。与要求立即采取行动的 FAA 指令不同，该机构在当时并未发现紧急问题。

波音飞机一直陷入一系列质量和安全问题，包括上个月在 Gevers 发生的一起事故，当时一架 707 旧款机型的侧窗脱落，导致一名乘客部分身体被甩出机舱外。该乘客幸存，飞行员成功将飞机安全转向。

此外，FAA 在 7 月还要求对 MAX 客机的座椅进行检查。波音公司表示，该指令提供了检测并修正可能存在的裂纹的机会。

右侧的白宫舞厅项目需要国会批准，华盛顿的一家上诉法院如此裁定。

上诉法院叫停舞厅工程，特朗普誓言向最高法院提起挑战

作者：LEON WINDLER 和 JAMMY ROSENBERG 华盛顿——一家联邦上诉法院叫停了特朗普总统计划建设的白宫舞厅的地面施工，这使得该总统最青睐的项目之一可能在最高法院引发激烈交锋。

在一项 2:1 的裁决中，美国哥伦比亚特区巡回上诉法院的一个小组表示，只有国会，而非总统单独行动，才能批准对白宫进行拆除或设计变更。特朗普尚未为这项拟建的 102,000 平方英尺的项目获得国会批准。

该小组维持了下级法院的决定。法官 DeVorio Millett 和 Reed Garcia 在多数意见书中写道：“在美利国历史上，我们不知道有任何先例，总统能单方面地利用私人筹集资金，拆除由国会授权建设且由美国纳税人出资的白宫实质性部分。直到现在为止。”

法院将该裁决暂缓执行两周，以便给特朗普政府提供向最高法院上诉的机会。

特朗普在社交媒体上对该裁决表示不满，称其“正在危及在白宫工作以及将要在白宫工作的人员的生命和福祉”。他表示，政府将立即寻求最高法院的审查。

去年秋天，在没有国会明确授权的情况下，根据特朗普的指示，白宫东翼被搭建起施工围挡，以为该项目腾出空间。该项目由私人捐款资助。特朗普承诺该项目将完全由私人捐款资助，尽管纳税人可能需要承担与安全相关的评估费用。

国家历史保护信托基金（National Trust for Historic Preservation）对该项目提出挑战。美国地方法院法官 Richard Scott（由乔治·W·布什任命）在春季发布了一项禁令，在案件审理期间叫停地面施工。该禁令对与国家安全相关的地下设施工程做了例外处理。

在上诉法院审理此案期间，该禁令一直处于暂缓状态。除非最高法院介入，否则周五的决定将使地面施工的禁令重新生效。

总统表示，该舞厅将为接待国宾、举行就职典礼和其他活动提供场所。这座两层结构的建筑将超过白宫主楼，其计划规模已扩大到包括屋顶无人机停机坪等设施。

由巴拉克·奥巴马任命的 Millett 和由乔·拜登任命的 Garcia 写道，宪法赋予国会监管白宫建设的唯一责任。Millett 和 Garcia 写道：“国会并未授予行政部门额外的权力，使其能够为了迎合某位特定总统的愿望，而对白宫——这座人民之屋——进行剧烈的重新设计、搬迁和重建。”

由特朗普任命的法官 Bevan Rae 在反对意见中称，国家历史保护信托基金没有起诉的法律地位，并写道，根据一项授权总统为“改善”白宫行政官邸采取某些步骤的联邦法规，该舞厅项目可能是可以接受的。

陆军扩大弹药测试场的使用权限

作者：MARCUS WEINBERGER

美国陆军正在扩大其测试场和生长地的使用权限，旨在将新型弹药、无人机及其他类型的武器更快速地部署到战场。陆军部长丹·德里斯科尔（Dan Driscoll）周五宣布了这一举措。此前，军方对其拥有数千枚先进导弹的库存以及过去五个月中精简流程的中断表示赞赏。政府官员表示，特朗普总统已下令对 Prom- guers 弹药库存的披露情况展开调查，这是他打击关于贷款战争的破坏性革命努力的升级。

新武器在军方大量采购之前，通常需要经过一系列测试。通过开放测试场，军方预计将能够缩短采购流程并更快地获得新武器。德里斯科尔在周五与记者的电话会议中表示：“在收到请求后的 30 天内，能够到达测试场的公司将获得我们国内测试场或海外国际测试场之一的使用权限。”

军事测试场模拟武器在实战中可能遇到的情况，例如电子干扰。陆军运营着七个大型测试场，但国民警卫队中还存在许多额外的测试场。随着军方追求包括无人机、liners 和快速发射的 hyperoxia 导弹在内的新一代武器，近年来对测试场的需求有所增加。

周五的公告增加了可用测试场的数量，但由于需求和官僚程序的限制，公司若要使用位于新墨西哥州的白沙导弹靶场（White Sands Missile Range）——这是陆军的首要测试场，1945 年第一颗原子弹在此爆炸——仍需等待至少 10 到 18 个月。白沙靶场的独特之处在于商业飞机不得在其上空飞行，这使得官员能够测试高空武器，包括那些能够到达太空边缘的武器。但陆军经常拥有其正在提供的设施。

--- A4 / 周六 / 周日，2026年8月8 - 9日 ■ 华尔街日报 美国新闻

特朗普与国土安全部部长分歧日益加深

穆林的信息传递与白宫不一致，总统对其评价降低 作者：Michael Blackman，周日杂志编辑

华盛顿——在国土安全部部长马克韦恩·穆林（Markwayne Mullin）近期发表了一系列不合时宜的言论并激怒了总统的许多外部盟友后，特朗普总统对他感到越来越沮丧。特朗普在去年春季签署了一份为期三个月的报告，其中提到穆林将在 64 那个时间点接管国土安全部。这份报告是关于 2026 年穆林就职时的内斗与戏剧性事件的首份报告，当时他告诉助手，他的首要目标是让该机构远离政治漩涡。

在穆林就职 2026 年四个多月后，据相关人士透露，总统开始对他不满，认为穆林软弱且言论不统一。一名特朗普政府高级官员承认，与穆林的摩擦确实增加了，但表示总统并未完全失去信心。

上周，当穆林在俄克拉荷马市举行的全美州长协会会议上表示，关于移民“会对美国某些行业产生真实影响，但并非所有行业都如此”的说法，并暗示移民可能是弥补某些地区劳动力参与率不足的一种方式时，这种沮丧情绪达到了顶峰。这些言论引起了特朗普最激进的外部支持者的强烈反弹，他们认为这与政府驱逐尽可能多移民并减少进入美国的整体移民人数的宗旨不符。

经常与特朗普沟通的右翼影响力人物劳默（Loomer）在社交媒体上对穆林进行了抨击，写道他“在增加驱逐方面绝对没有做出任何贡献，而应该增加驱逐”。在这些言论之后，穆林在社交媒体上发布了关于非法外来人员流动的“80 分钟”内容。

此次事件此前已发生过几次让穆林与总统步调不一的决定。在一周内发生两起针对移民的枪击事件后，穆林暂时暂停了联邦移民官员的大部分车辆检查步骤，但总统在一天后就撤销了这一政策。一名政府高级官员表示，总统对他事先不知道政策变动感到恼火。

据知情人士透露，特朗普还对穆林想在雷电天气中取消 7 月 4 日烟花表演感到沮丧。他们表示，一些非常聪明的人在积压工作中说：“别担心，下周 80 岁的人也能办好。”特朗普告诉人群：“我说，下周不行。这是大日子。我们要 7 月 4 日。我们不要 7 月的其他日子。”

6 月下旬，在最高法院裁定政府可以结束 500,000 名居住在美国的海地人的临时移民保护后，穆林私下暗示这些海地人可能能够留在该国。他说：“要么 150 文件并在这里理解永久条款，要么我们将帮助你回到你的国家。”

由于驱逐海地人口曾是竞选承诺，且最高法院刚刚在该问题上给予政府胜利，这些言论被政府内部一些人认为与政府的信息传递不一致。

白宫发言人在一份评论中没有直接提到穆林，但表示总统“有信心让内阁执行美国人民投票支持的议程”。

一名 2005 年的发言人表示，政府处于“受害者心态，而我们拥有权利”。这种“受害者心态”是 Mullin 在行走过程中一个主要且杂乱的亮点。尽管他就职时的使命是采取其“受害者”的公众形象，特别是针对那些在明尼阿波利斯杀害了两名美国公民的移民官员，但这有时与特朗普希望表现出致力于其大规模驱逐计划的愿望相冲突。在 Mullin 的监管下，一名批评者指出，驱逐人数最初有所下降，但此后已激增至该政府迄今为止最高的每日总量，根据一名熟悉数据的政府官员称，152 之间在 1,500 到 2,000 名移民之间，而 1980 年一直没有公布相关活动。这种抵制还凸显了担任特朗普国土安全部部长的挑战。“我没有太多时间将移民政策作为他自身以及各部长的优先事项，而且这些部长的任期并不长。这场战争成为了特朗普第二个任期内第一个被解雇的内阁部长，在他第一个任期内，特朗普曾有过两次参议院有条件的 1980 年胜利和四名代理部长。两人在选择由谁永久领导美国移民和海关执法局、劳工科学以及美国方面面临着强烈的内部反对，并且已被 Schrever 削减，后者是俄克拉荷马州公路巡警的资深人员，在 Mullin 担任参议员期间领导其安保小组。2026 年的选举缺乏联邦政府或移民经验。参议院尚未为 Schrever 安排确认听证会。美国观察父母利率

干旱引发用水配给

波多黎各已开始在陆地上实施用水配给，原因是严重的干旱，导致居民一次面临长达 40 小时的断水。据该州 8 月份的前任秘书称，配给预计将持续一年。受影响最严重的地区被分为七组，将以 40 小时为一个周期轮流供水，导致部分地区断水超过 100 小时，而其他地区则维持供水。根据美国预算局和美国的说法，波多黎各的大部分地区正处于干旱状态，且波多黎各的干旱情况严重。预计干旱在接下来的至少五个月内将持续或恶化。干旱已导致新的人口管理部门提出需求。波多黎各州长詹妮弗·冈萨雷斯（Jennifer Gonzalez）表示，在评估了另外五年、用水配给率的增长以及该美国领土的气候条件后，实施了配给措施。七个市镇的部分地区受到配给影响。用水配给率为 1.5%，涉及 Tupilo Alto、Cancunana、Lujos 和 Carolina。目前正在分发装有饮用水的槽车，且 用水配给率为 1.5%，涉及 Tupilo Alto、Cancunana、Lujos 和 Carolina。白宫未对此发表评论。—— Jack Marpled 华盛顿

电池与矿产资金已定

特朗普政府已同意为生产电池和关键矿产的公司提供超过 520 亿加元 的资金，这增加了政府旨在减少美国对中国供应商依赖的一系列资金投入。特朗普总统在周五与矿业高管举行的圆桌会议上宣布，国防部已承诺向美国提供此类信息贷款。美国还支持 2亿美元 用于广告，以及 2025 年高达 4900 万 的更多资金，利率低于 $1，这与该州共和党人的观点相左，且需要一名出纳来连接共和党人、民主党人和独立人士以获胜。阿拉斯加最近的警报与任何主要政党无关。美国还针对武器和设备的官方组件提供了来自中国和其他国家的资金。美国还支持 2亿美元 用于广告，以及 2025 年高达 4900 万 的更多资金，利率低于 $1，这与该州共和党人的观点相左，且需要一名出纳来连接共和党人、民主党人和独立人士以获胜。阿拉斯加最近的警报与任何主要政党无关。

卡西迪的陈词滥调为布兰奇的确认投票带来胜利

林曼，西太阳新闻，科学 华盛顿——周五，一名关键人物表示他将投票确认托德·布兰奇（Todd Blanche）为司法部长，为特朗普总统选定的司法部负责人铺平了道路。比尔·卡西迪（Bill Cassidy，共和党，路易斯安那州）表示，布兰奇并非完美的人选，但另一个司法部长可能会更糟。

“我会因为这次投票而受到批评。这有什么新鲜的？”卡西迪在参议院议事厅发表演讲时说道，显然在以此衡量自己的价值。“但路易斯安那州的人民可以放心，我尽力去了解相关问题并做出正确的决定。”

他的立场是在参议员丽莎·马尔科夫斯基（Lisa Markowski，共和党，阿拉斯加州）表示她可能会反对布兰奇的提名之后出炉的；如果卡西迪也投反对票，布兰奇的确认将陷入危险。参议员苏珊·柯林斯（Susan Collins）已于上周宣布了她对布兰奇提名的决定。

共和党领导层尚未宣布任何确认投票的时间。这将包括近期记忆中最不寻常的司法部长确认程序之投票。数周以来，布兰奇被迫在被退休协议困扰的共和党人之间进行协商。众议院已禁止针对美国国税局（IRS）的行为，且一名总统无法获得退休福利。在 8 15，其后期的反-ewigmanship 基金用于补偿其办公室，并免受美国国税局（IRS）的审计。

来自德克萨斯州的约翰·齐默（John Ziemer）和北卡罗来纳州的特伦特·霍尔（Trent Hall）等共和党持保留意见者，寻求布兰奇的书面承诺，确认该基金已失效且税务保护仅限于特定人员，以换取其在参议院司法委员会的通过。

随着特朗普的前私人律师布兰奇与参议员们取得进展，总统却让他陷入了困境。特朗普首先威胁说，如果参议员们不支持他，他将撤回布兰奇的提名，并且他将推动立法重启那个已走向毁灭的补偿基金。

为了打破这一僵局，布兰奇表示：“司法部最终以书面形式重新审视了该基金，并缩小了特朗普的审计程序，但批评人士认为该基金对总统可能没有约束力。”

卡西迪在演讲中表示，布兰奇在批准“反-ewigmanship”基金和授予特朗普税务审计程序中“表现出判断力匮乏”。他还表示，他对比尔·特朗普利用司法部打击其认为的过度使用感到不安，称这是需要停止的“法律战”。

卡西迪说，他在做出决定时咨询了几位现任和前任执法官员。他还说，布兰奇因为一些他无法控制的事情而受到批评，因为最终决定权在特朗普手中。

“这不是对特朗普总统的违背，”他说，“这是一个关于布兰奇先生及其非常具体情况的决定。”

白宫发言人卡罗琳·莱维特（Karoline Leavitt）称马尔科夫斯基的决定并不令人惊讶，但“尽管如此，考虑到政府尤其是司法部为阿拉斯加州所做的一切，这令人失望”。

马尔科夫斯基、卡西迪和柯林斯曾是一组七名与民主党人共同投票反对特朗普书面文件的共和党参议员，且未在立法机关的第二次任期内参与投票。他曾于 1 2025. 她还建议通过联邦权利来宣传，并加入一些新材料。她将在 2025 年参加选举，其得票率低于 $1，这与该州共和党不一致，且需要一名出纳员来连接共和党人、民主党人和独立人士以获胜。阿拉斯加州最近的警报不隶属于任何主要政党。

5 月，在特朗普支持其一名初选对手——众议员朱莉娅·勒贡（Julia LeGone，共和党，路易斯安那州）后，卡西迪失去了竞选第三任参议员的机会。

周五早些时候，Markowski 对该提名人表示怀疑。Blanche 曾就该基金与 German 和 Talia 进行沟通，称该方案目前之所以不在讨论范围内，是因为 Blanche 的提名尚在审议中，且参议院拥有筹码。“一旦我们投票，这种情况就会结束，而未来将不可预知，”她说道。在周五发布的一份声明中，Markowski 表示她与 举行了“建设性会议”，但仍有诸多担忧，包括她认为的美国司法部（DOJ）的政治化倾向（她称这种情况在特朗普政府期间有所加速），以及 处理向被定罪的性犯罪者 Jeffrey Epstein 披露虚假利益相关信息的方式。“这个国家需要一位能够在本届政府中监督（改进）措辞的司法部长，”Markowski 说道。“我希望 先生如果获得确认，能够实现这一点，但我对他对法律的信心不足。”Markowski 是一位活动人士，此前曾领导她的政党，尤其是在她反对废除 1937 年的 Aftersible Law Act 以及指责特朗普租赁摩托车期间。他于 2025 年处于法律管控和审判之中。她还建议建立一个联邦权利表以进行宣传以及一些新材料。她将在 2025 年参加选举，其得票率低于 $1，与州共和党（GOP）存在分歧，且需要一名出纳员来连接共和党人、民主党人和独立人士以获胜。阿拉斯加州最近的警报与任何主要政党无关。

赫格塞斯撤销拜登政府空军部长的安全许可

作者：Marcus Winneman

国防部长皮特·赫格塞斯（Pete Hegseth）撤销了一名曾在拜登政府担任高级国防官员的人员的安全许可，理由是其涉嫌泄露关于空军一号（Air Force One）的机密信息。弗兰克·肯德尔（Frank Kendall）曾担任乔·拜登的空军部长，并在奥巴马政府期间担任过多个五角大楼高层职位，他在上个月的一篇《纽约时报》文章中被引用，该文章指出，由未来政府赠予特朗普总统的空军一号喷气式飞机在国防能力方面逊于传统的空军飞机。在战争结束时，空军在《华尔街日报》最近一篇关于该飞机的文章中被引用。

“独立泄露机密信息是一项不可逾越的底线，”五角大楼发言人表示。他打算在X上发布一条帖子：“那些违反法院规定的人将丧失访问特权以及任何要求该特权的规则。”他补充道，该帖子并未详细说明肯德尔泄露了哪些机密信息，但提到了“关于空军一号能力的机密信息”。

“我很困惑，”肯德尔在被要求置评时通过短信表示。“我一直极其小心，没有说过任何可能属于机密的内容，而且据我所知，我没有说过任何机密信息。”他补充道，“到目前为止，还没有人告诉我我被认为泄露了什么。”

弗兰克·肯德尔曾在拜登总统和奥巴马总统任内担任职务。前官员在离开政府后通常会保留安全许可，以便他们能为国防承包商从事机密项目、在顾问委员会任职或就其他敏感事项提供咨询。撤销一个人的个人信用会影响其护理潜力以及工作的市场竞争力。

在《纽约时报》发表7月9日文章后不久，司法部向几名《纽约时报》记者发出了传票。联邦官员表示，这些记者并非调查目标。司法部在两周后撤回了传票文本。

据《华尔街日报》报道，卡塔尔飞机的防御能力不足，迫使特朗普在土耳其举行的7月北约峰会期间离开该飞机。该事件发生在事件发生两周后，当时一架747飞机在经过数月的任命后被指定为空军一号。官员们表示：“我想进行改装，但表示该飞机的通信系统自那时起就与旧的总统飞机相同。”

特朗普随后表示，卡塔尔飞机将被“寄往美国以考虑白宫的整体情况”，白宫表示该飞机将在今年秋季停飞约一个月进行改装。特朗普本周在美境内飞行，飞往加利福尼亚州和内华达州。

特朗普此前曾暂停或撤销了部分前官员的安全许可，在某些情况下，他提供了意见，其中包括签署了2020年一封信函的四十多名原情报官员，该信函警告称结果出现在一份外行报告中。然而，美国认为这是俄罗斯政府操纵活动的标志。

--- 华尔街日报 ... 周六 / 周日，2016年8月8 - 9日 / A5 美国新闻

数据中心如何避开监管

加利福尼亚州一个小镇的分区规则使得亚马逊的一个项目得以悄悄落地 作者：JENNIE KENNEDY

在全美各地的城镇中，数据中心提案引发的反馈已成为常态，居民们挤满市议会会议的场景屡见不鲜。但在被称为“世界大蒜之都”的加州吉尔罗伊（Gilroy），情况有所不同。居民们现在反对的这座价值20 亿美元 billion的设施已经在建设中了。

“许多，如果不是大多数居民，是在施工开始后才第一次得知这个项目的，”一名小学教师科尔森·埃弗斯（Colson Evers）在最近的一次会议上告诉市议会。在去年7月市工作人员批准亚马逊（Amazon.com）在圣何塞以南数英里、占地18 acres的农地上建设一座400,000平方英尺的数据中心之前，并没有举行过公开会议或投票。

随着全国范围内对数据中心的抗议日益增加，地方官员和开发商找到了让项目获批的快捷方式。一些政府领导人在流程早期就签署了保密协议，另一些人则通过避开公众审查的地方分区规则来推进项目。在吉尔罗伊这个农业社区，亚马逊的项目仅凭州社区发展主管的一项协议就获得了批准——因为它符合45年前为沿路工业开发设定的分区标准。

市长格雷格·贝佐斯（Greg Bezos）表示，多年来其他大型工业项目也以同样的方式获得批准，但这并不意味着没有任何差异。“他们并不在意吉尔罗伊在没有他们参与的情况下建立了一个食品配送中心，但现在他们在意的是，一个数据中心在他们没有参与可能性的情况下进入吉尔罗伊，”贝佐斯说道。

曾任亚马逊云服务（Amazon Web Services）经济发展总裁的韦伯斯特（Webster）市长表示，该项目经过了漫长的审批流程，包括公开通知和公众评论期。“虽然该项目遵循了工业分区地块的标准审批流程，但我们意识到社区需要更多的参与中心，我们对此非常重视，”韦伯斯特说。“我们已经直接与居民进行了沟通，并举办了开放日以听取反馈并回答问题。”

对当地程序的审计也促使市级官员重新考虑未来如何许可数据中心等大型项目。市议会正在提出一项提案，要求类似的项目必须获得市规划委员会的批准。该提案将强制要求开发商举行社区会议并通知附近居民。

“我们有机会改变吉尔罗伊的办事方式，”市长表示。

亚马逊云服务在2020,年购买了位于韦伯斯特家附近和吉尔罗伊高端折扣店（Gilroy Premium thrifts）之间的一块土地后，开始建设这座数据中心。市府对该项目进行了冗长的环境审查，这是其他地方的开发商试图避免的繁琐流程。但由于没有公开会议且媒体报道寥寥，很少有居民知道该项目正在进行中。

《华尔街日报》查阅的电子邮件详细记录了亚马逊与市府多年来如何悄悄敲定协议。亚马逊的官员有时会对政府官僚机构的缓慢进度感到不耐烦。

“我们的项目面临多次延迟，目前已延迟一年多，”该公司一名代表在2020.年春季表示。

相应地，市府工作人员在谈判过程中有时似乎也对公司的施压感到厌倦。其中一人写道：“此事已不再讨论。”

在此期间，双方在向公众披露信息时都十分谨慎。今年1月，当居民对可能发生类似附近莫斯兰丁（Moss Landing）那样的电池火灾表示担忧时，吉尔罗伊（Gilroy）的消防局长写道，“我们应谨慎限制向公众分发的公开技术细节水平”，因为亚马逊的灭火系统属于专利技术。一名亚马逊官员回应称，他将支持他们“被允许向公众分享”的内容。在今年早些时候数据中心项目的消息传开后，吉尔罗伊居民罗莎·罗德里格斯（Rosa Rodriguez）在2月写信给市政府工作人员，要求对环境审查报告发表评论，称“数据中心可能造成的损害是不可弥补的，尤其是在一个面临干旱的州”。根据电子邮件，一名城市规划师告知她，评论期已于2024年9月结束。“这些流程不足以让吉尔罗伊的市民采取任何行动，”21岁的大学生兰登·塞普尔韦达（Landon Sepulveda）表示，他曾协助组织反对该项目的活动。市长贝佐斯（Bezos）反驳称，亚马逊已承诺自费建设一条管道，将废水引入数据中心。他还宣称了其他益处：税收、建筑业就业机会，以及该公司提供给市府用于购买新消防车的100万美元。贝佐斯表示，亚马逊还向当地非营利组织发放了资助，并赞助了年度吉尔罗伊大蒜节（Gilroy Garlic Festival）。塞普尔韦达说，居民们并不在乎大蒜节的赞助，他们希望市议会能告知他们关于重要项目的信息，并给他们一个参与的机会。“每个人都被蒙在鼓里，”他说。“我们选举他们是为了让我们知情，而不是让我们在他们背后猜测。”

研发下一款重大发作性睡病药物的竞赛

作者：KEVIN MARTINEZ

发作性睡病并不容易治疗。现有的药物旨在管理患者的症状——尤其是白天过度嗜睡和夜晚入睡困难——而非针对病因。然而，一种针对该疾病根源的新型药物正在出现。这可能会为一系列睡眠问题带来更好的药物。

美国食品药品监督管理局（FDA）周三批准了 Tabula Pharmaceuticals 的药物（Tetrayol）。这是首款通过针对调节觉醒状态的大脑化学物质来治疗发作性睡病的药物。它是正在开发的一系列类似药物中的首款。如果像 Elk Lilly 和 Allozomox 这样能够解决我们问题的药物通过审批，每年可能会产生超过 100 亿美元 billion 在销售额。

“这确实是一场彻底的革命，”斯坦福大学睡眠医学教授 Emmanuel Miguel 博士表示，他领导了 Tabula 的食品研究，并被认为开创了其背后的科学。“患者第一次服用它时，就像打开了灯开关一样。”

Gracellia 已批准其用于治疗伴有突然肌肉无力的发作性睡病，这是该疾病的一种更严重形式。

发作性睡病在神经科学领域很特殊，因为研究人员长期以来一直知道导致它的活动。一小组产生名为 corain 化学物质的大脑细胞死亡，破坏了人们在白天保持清醒和在夜晚睡眠的能力。结果，患者在白天会毫无预警地入睡，失去肌肉控制，并在几乎入睡时出现幻觉。患者在白天嗜睡之前，通常在夜晚睡眠质量较差。

为了研究这种疾病，科学——

预计发作性睡病药物销售额 ■ 起始：1-targeting 10 其他 10 其他

注：2020. 年文本中显示了观察到的活动损失的非辅助估计值。

Patrick Mandellic 在 1970 年代和 2000 年代在斯坦福大学开始研究（以及在兴奋时会瘫痪崩溃的发作性睡病犬）。Miguel 来到斯坦福研究这些狗（并且今天仍然拥有一只发作性睡病吉娃娃）。他花了大约 20 年时间寻找该病症背后的基因，并发现经历突然肌肉无力的发作性睡病患者缺失了该化学结果。

这一发现为药物制造商提供了一个明确的目标，而在该领域的大多数疾病涉及的生物学机制都知之甚少。在总部位于日本的 Tabula 公司，一名研究员搜索了公司的化学化合物库，寻找能够开启血清受体的化合物。

2016, 年，研究人员发现了一个具有前景的化合物。将其转化为药丸花费了数年时间。现有的治疗方法是几十年前的兴奋剂和镇静剂，一次只能针对一个症状，但 Drayful 及其竞争药物旨在整体治疗该疾病。

针对这些化学物质的科学影响超出了发作性睡病。Tabula 正在测试针对血清的药物用于其他病症，包括睡眠呼吸暂停、慢性白天嗜睡以及在缺乏睡眠的健康志愿者中进行测试，早期结果令人鼓舞。

Tabula 的后期研究包括两项针对 273 名成年人的 22 周试验。与服用安慰剂的人相比，服用 Drayful 的患者在减轻嗜睡方面显示出改善，失去肌肉控制的情况较少，且夜晚睡眠质量更好。

Tyler Chapman 在 14. 岁时被诊断出患有发作性睡病。他尝试使用一种强效夜间镇静剂来睡眠，但该药物引发了严重的心理副作用。停药导致他的症状更严重地回归。他停止了体育运动，每天睡眠 10 小时，并开始挂掉好几门课。

Chapman养成了每天摄入相当于约 10 杯咖啡因的习惯，并尝试了 10 种不同的药物。今年夏天，在 16, 岁时，他自愿参加了斯坦福大学睡眠诊所对 Tabula 药物的一项研究。他说结果在几分钟内就变得明显。

“我的身体就像被接通了强电一样，”田纳西大学诺克斯维尔分校的大二学生查普曼（Chapman）说道，“这是我在过去10年里第一次感觉到自己某种程度上活了过来。”在美国患者能够获得Tabula的药物之前，美国缉毒局（DEA）必须正式将Drayful列为管制药物——这一过程可能需要长达90天。Tabula预计峰值销售额可能突破30 亿美元 billion，这一数字部分取决于在约40,000名确诊的美国患者中有多少人开始治疗，以及市场是否会增长。该公司估计，美国有近120,000人患有该疾病。

印象派偶像克劳德·莫奈 (CLAUDE MONET)

重要艺术家。历史背景。罕见画作。

色彩鲜艳且富有氛围感，这件杰作完美体现了克劳德·莫奈的传奇天才。该作品创作于1875年，即首届印象派展览的一年后，《Le house d'espertoisé》捕捉了这一开创性运动诞生地的安静山城。右下角签名并标注日期为“Claude Monet 17”。画布油画。20" x 27½"（画框：29½" x 37"）。#32-2623 了解更多关于这幅画作的信息 INSURUM THE ART • ARTIGLES • SHELL INSPECTION 1997 • REVISE 1998 新美元：0.00 Royal Street • 1000 1000 FARE • 1000 1000 L. Kaloua Town • 1000 400-0720 自1912年以来，R.S. 专门从事世界上最顶尖的艺术品、古董和珠宝。凭借我们前所未有的 1250 保证，我们确立了现金及每项价格。

A6 / 周六 / 周日，2026年8月8 - 9日 ... 华尔街日报。# 世界新闻

沙特阿拉伯、土耳其、巴基斯坦

伊朗战争后各国争相寻求新的安全安排

作者：Jaani Musim

SIFANPALS——土耳其、沙特阿拉伯和巴基斯坦的领导人周五签署了一项共同防御协议，为这三个寻求在多年中东动荡后寻找新方式以加强安全的美国盟友之间建立更紧密的军事关系奠定了基础。该协议出台之际，美国和以色列正与伊朗对抗，但这仅为该地区带来了更多问题，同时引发了关于美国安全体系不可控的担忧。

特朗普总统在对他阿拉伯海湾盟友的作者发起战争后，正在寻找一个出口，而该地区许多国家担心这可能会让他们暴露在一个愤怒且未被驯服的伊朗面前。自2025年10月7日哈马斯袭击以来，以色列展示了强大的军事和情报能力及其在地区内使用这些能力的意愿，这也引发了其他中东大国新的安全担忧。

该协议将拥有核武器的国家巴基斯坦、富有的石油问题国家沙特阿拉伯，以及拥有庞大且不断增长的国防工业基础的北约成员国土耳其聚集在一起。它建立在沙特阿拉伯和巴基斯坦之间现有的国防安排之上。一名土耳其官员表示，过去的情况，一个集体防御条款且纯粹是防御性的，不针对任何特定参与者。该官员表示，欢迎其他国家加入。

“该协议旨在加强针对任何侵略行为的集体威慑，并规定对三个国家中任何一个的武装袭击应被视为对所有国家的袭击，”巴基斯坦外交部表示。

武装指控显示，在伊朗战争之后，地区强国正采取行动寻求自身的安全。德黑兰的防御主要建立在波斯湾各地的报复性打击上，这些打击压倒了对以色列的攻击，并击中了经济和文化目标，以及美国基地和大使馆。伊朗还向北约成员国土耳其发动了成员攻击，土耳其是美国军队的重要基地。与此同时，以色列在叙利亚与土耳其僵持，并于去年对卡塔尔的哈马斯领导人发动了导弹袭击。这令海湾国家感到惊恐，因为它们几乎没有收到警告，且认为它们与美国的报复关系将能防止此类袭击。

沙特阿拉伯也一直面临来自邻国也门的威胁，在那里，伊朗支持的胡塞武装已开始攻击反对其的军事力量，导致该王国受损并在沙特海域以及红海区域进行射击。该王国表示，周四的一次胡塞攻击导致沙特一个边境城镇15人死亡。

“这是对这两个不稳定因素的反应，因为这三个国家现在都面临该地区整体不稳定的类似损失，无论是对以色列还是对伊朗，”前土耳其外交官、伊斯坦布尔智库EEMR主任Sinan Ulyan表示。

这三个以逊尼派穆斯林为主的国家领导人在麦加（伊斯兰教圣地所在地）举行的一场仪式上签署了该协议。土耳其总统雷杰普·塔伊普·埃尔多安与沙特阿拉伯王储穆罕默德·本·萨勒曼以及巴基斯坦总理Umbilad Uffazif共同签署了协议。

三个政府并未说明如果其中任何一方受到攻击，他们将采取什么样的实际步骤（如果采取的话）。巴基斯坦表示，沙特阿拉伯去年签署了一项类似的双边协议，就在该王国遭受伊朗任务攻击及在当前冲突期间遭受虐待的几个月之前。在经过数周的战争后，巴基斯坦于4月向该海湾国家派遣了一支战机编队。

分析人士表示，这项新协议可被视为努力建立一个抵御三次伊朗攻击的网络。

“这向伊朗传递了一个信号，即在新的形势下，它不能简单地通过强权来主导，”来自利雅得（沙特阿拉伯）智库——国王研究与伊斯兰研究中心（King Research and Islamic Studies）的高级领导者奥默·卡里姆（Omer Karim）表示，该行动被认为削弱了伊朗在海湾地区的优势。

伊朗在波斯湾寻求突破（接第一页）

分析人士和前高级军事指挥官表示，就军事层面而言，如果美国海军决定驶过海峡，伊朗不大可能能够阻止其进入波斯湾。在战争最激烈的4月，五角大楼曾派遣两艘海军导弹驱逐舰通过霍尔木兹海峡。但通过提出最大限度的要求，伊朗可能会削弱特朗普总统重启战争或采取强硬手段的意愿，即便这意味着不能立即将伊朗的尾端转化为将美国排除在波斯湾之外的手段。

“无论特朗普怎么做，基本结果都将是重大的，因为事实上是对海峡的控制，”现就职于华盛顿智库大西洋理事会（Atlantic Council）的前美国高级情报官员乔纳森·福斯代尔（Jonathan Forsdell）表示。

一名美国官员表示，特朗普政府仅会接受一种在霍尔木兹海峡的安排，即伊朗不获得任何出价或费用，且不能拒绝任何人进入该水道；该官员补充称，指定的航运路线将是临时的。另一位美国官员表示，如果德黑兰无条件开放海峡，美国将取消对伊朗港口的封锁。

“现在某种程度上是开放的，”特朗普周四告诉记者。他承认伊朗“几乎可以发射某些东西，始终拥有某些东西或投放一枚水雷，如果你在那儿放了一枚水雷，你就会在某种程度上转移物资，因为人们不想让他们的百万美元船只意外被水雷击中。”

特朗普6月与伊朗签署的谅解备忘录也寻求开放霍尔木兹海峡，为他设计的谈判以及最终结束战争扫清障碍。但由于伊朗对船只发起旨在争夺海峡控制权的袭击，该海峡将在这种环境下开放。

官员们表示，阿拉伯-霍尔木兹协议将暂时在伊朗附近设立一条入境车道，并在阿曼附近设立一条出境车道，尽管伊朗最高领导层仍需签字批准。该协议可能有助于增加通过霍尔木兹海峡的能源供应，并减轻全球经济的压力。但波斯湾的阿拉伯能源监管者虽然厌倦了重创其经济的战争，却担心这将使伊朗对这条作为其金融生命线的水道拥有永久的话语权。

在革命卫队的压力下，伊朗外交官坚持认为，海峡要完全重新开放还需要更多步骤，包括制裁缓解以及取消美国对伊朗港口的封锁。根据革命卫队下属法尔斯通讯社（Fars News Agency）的一份报告，以色列船只将被禁止通过海峡，以及与反对伊朗地区民兵盟友的活动相关的船只或船队也将被禁止。对伊朗造成损害的国家在获准通过前必须支付明确的赔偿。伊朗政府和军队将管理航行和交通。法尔斯通讯社报道称，这些条款已包含在伊朗最高国家安全委员会审议的立法草案中。

冲突调解组织危机小组（Crisis Group）的伊朗项目主任阿尔·斯塔斯（All Stars）表示，禁止战争船只通过是德黑兰要求的核心。“伊朗的控制旨在提供工具，以拒绝敌对船只的进入，”斯塔斯说。

调解人表示，伊朗-辛纳尔协议（Iran-Sinars agreement）并不包含法尔斯通讯社列出的那些条款。但在伊朗官员向阿拉伯调解人传达这些要求并导致谈判受挫后，他们仍然严肃看待局势。

美国海军在波斯湾的永久存在始于美国接管英国在巴林的基地，随后将其设为海军总部，时间可追溯至1978年。在近几十年中，美国军队并未撤离，在科威特、沙特阿拉伯、卡塔尔和阿拉伯联合酋长国的基地中达到了80,000名士兵。

但伊朗对这些基地的袭击迫使五角大楼必须部署部队，并严重依赖波斯湾以外那些较少有人自愿驻守的设施。

世界观察

上周： 周五在加德满都，一名清洁空气舞者在为登山者 Bahadur Gunung 举行过境服务。在 7 月 30 日的一次攀登世界第 12 高峰布罗德峰的探险中，该登山者是因雪崩袭击而遇难的 10 人之一。SERRA

热浪期间火灾爆发

周五，随着当局紧急遏制一场重大山火，东北塞尔维亚一个林区的河流上方烟雾弥漫，而其他火灾正席卷全国，巴尔干地区正遭受酷热和长期干旱的折磨。消防员使用直升机向葡萄牙沿线的较低地带投放水——该 60-cm 区域是一个自然保护区，距离首都贝尔格莱德约 40 英里，另一场火灾则席卷了 Krajane 河。近几周席卷欧洲的热浪不仅在多个国家刷新了温度记录，还导致干旱，使国家能源系统承压，并引发了从西欧到巴尔干地区的山火。——美联社

法国

教皇 Leo 将会见虐待幸存者

梵蒂冈周五宣布，教皇 Leo 将在下个月访问法国的四天行程中，会见 800 名神职人员虐待事件的幸存者。Leo 在最近访问西班牙期间会见了 64 名虐待幸存者，而西班牙的教会等级制度直到最近才开始承认虐待的影响。在长期忽视这一丑闻的严重性之后，该进程已成为一个车队。在法国，一份 2021 年的报告指出，过去曾有 2000,000 名儿童遭到教会人员的性虐待。这位由 post77 领导的月份通过任命法国 Blame Tideault terry 领导 Sabanas 儿童保护咨询委员会，标志着致力于继续打击神职人员性虐待的承诺。——美联社

肯尼亚

大象死亡被归咎于中毒

上个月，Korpus' Ambasati 国家公园有 Sahara 头大象死亡，疑似在食用附近农场的番茄后氰化物中毒。关于氰化物如何进入野生动物和家畜共存的生态系统的调查正在进行中。种植者否认了这些番茄中的氰化物导致大象死亡的说法。野生动物服务部门周五表示，已请求产品控制委员会调查该化学品“是否被不当使用、存储或处置，以及水、土壤或草地是否可能受到污染”。肯尼亚因其大象种群数量增加至 34,000 头以上而获得认可。——美联社

斯里兰卡

监狱冲突导致囚犯死亡

一名政府部长表示，周四和周五在斯里兰卡发生的两次独立监狱冲突中，三名囚犯死亡，20 多人受伤。在第三个拘留设施中，官员周五使用四气（four gas）来控制囚犯抗议。公共安全部长 Ananda Nityapala 周五告诉议会，周四在首都 Columbia 的 Columbia Magazine 监狱中有一名囚犯死亡，当时约 40 名囚犯声称 2000 突破了他们的牢房。周五上午，在距离首都约 50 英里的 Kuruwalla 镇 Kuruwalla 监狱有两名囚犯死亡，90- upside 表示。监狱官员未能就此发表评论。——美联社

日本

台风袭击该国南部部分地区

台风 Heights 周五移过日本南部偏远岛屿，导致冲绳的一个机场关闭，并导致进出该岛的航班停飞，同时导致数百人前往避难中心避难。根据日本气象厅的数据，截至周五下午，该台风距离冲绳 just heard of the news about，最大风速为 50 mph。冲绳岛上的最新机场于周五关闭，所有进出 Kobe 的国内和国际航班均已取消。冲绳县表示，截至周五中午，已有 240 人在冲绳全境的避难中心避难。——美联社

[...OMITTED...]

国际贩运网络被摧毁

欧盟警察机构 Europol 与西班牙国民警卫队周五宣布，在西班牙当局的协助下，一次由国际警察运作的行动摧毁了一个涉嫌在西地中海贩运移民、毒品和武器的犯罪网络。此次行动凸显了在分隔欧洲与北非的狭窄海域中，移民和毒品走私活动具有专业化且高利润的特点。

西班牙当局将该网络描述为“地中海地区专门从事海上人口贩运的最大犯罪组织之一”。Europol 表示，该网络为其他贩运活动“安排存储、运输、加油、海上转移、性虐待以及反监视服务”，时间可追溯至 2021 年。该机构支持并协助协调了西班牙当局于 2023 年发起的一项行动，参与方包括西班牙国民警卫队和国家警察，以及法国、 和葡萄牙的执法部门及 Europol。

Europol 表示，此次行动是 6 月 16 日一项“行动”的结果，导致了对 2021 名阿尔及利亚人的，并没收了 18 辆摩托艇、毒品、卫星电话、一把手枪以及超过 2,000,000 。

西班牙国民警卫队表示，该网络在阿尔及利亚和西班牙之间拥有一条双向走私路线，将毒品运往这个非洲国家，并将武器运往“非洲城市”。

国民警卫队称：“他们被认为至少负责 64 次移民行动，通过这些行动，他们迅速将 2,000 多名移民走私进入西班牙，显示出 2,000 英里的规模，涉及 2400 万 欧元。”

—美联社

--- 华尔街日报 ... 周六 / 周日，2020 年 8 - 9 日 / 87

世界新闻

韩国民众周四观看关于朝鲜弹道导弹试射的新闻报道。

北韩导弹试射加剧地区紧张局势

在东京发射“战斧”导弹后，平壤向日本海域发射一枚弹道导弹 作者：Baox Yoon SAN JONAH FORTUNE

北韩本周试射一枚弹道导弹，引发了与日本的新一轮摩擦，这也是平壤与美国在印太地区盟友之间军事紧张局势升级的最新例证。

韩国国防部表示，北韩周四向日本与朝鲜半岛之间的海域发射了一枚短程弹道导弹。此次发射的时机正值美国轰炸广岛 8 周年，且就在东京就北韩日益增长的威胁发出警告几天之后，这表明平壤旨在向日本发出警告。

北韩与日本之间的对抗一直在升级。金正恩政权猛烈抨击美国与日本之间日益深化军事关系。与此同时，美国及其在该地区的盟友对北韩日益增加的好战行为表示担忧。

在导弹发射前的几天里，金正恩的妹妹金与正批评了日本首次试射美国制造的“战斧”巡航导弹，以及东京在今年早些时候参与美国领导的军事演习。她指责华盛顿是东京这些“危险军事行动”的幕后推手。

她周三表示：“一个有效的方法是让日本感到其安全正面临更大的危险。”

在本周日本进行“战斧”试射后，北韩官方媒体指责华盛顿将驻日美军变成了“事实上的战争指挥部”。北韩将继续扩大其核计划。

中国和俄罗斯与北韩一起，谴责美国与亚洲盟友之间不断扩大的军事合作范围。

日本首相 Sanse Takashi 一直在通过引进新武器和能力来加强东京的军事力量。日本最近宣布计划在太平洋部署一艘“苍鹰”（Aogao）级驱逐舰。

在日本周二发布的国防白皮书中，日本将中国、俄罗斯和北韩之间日益增强的军事协调视为高度的安全风险。报告对俄罗斯可能将核能和导弹相关技术转移给北韩，以换取金正恩政权为俄罗斯在乌克兰的战争部署北韩军队和武器的可能性表示担忧。

平壤的官方媒体未报道周四的发射活动。

阿曼达·诺克斯的边缘节演出引发言论自由辩论

作者：JAMES BROWNE

阿曼达·诺克斯（Amanda Knox）在爱丁堡边缘节（Edinburgh Fringe festival）的首次演出引发了一场关于表达自由的新辩论。数年前，这名美国女性在意大利被判定谋杀并性侵其室友梅雷迪思·克切尔（Meredith Kercher），但随后被宣判无罪。

克切尔的姐姐斯特凡妮·克切尔（Stephanie Kercher）本周告诉英国广播公司（BBC），诺克斯的演出将她姐姐在佩鲁贾（Perugia）的谋杀案视为一种“财富”，两名女性近二十年前曾在那里就读。她支持一项新的请愿，要求将诺克斯的演出从边缘节的节目单中剔除。边缘节是一个年度盛会，涵盖喜剧、音乐、戏剧和艺术。

诺克斯为该演出辩护，她在其Instagram账号上表示，她的表演“纪念梅雷迪思·克切尔的记忆，并揭露针对她以及对我实施的暴力”。

负责监督该节日的边缘节协会（Fringe Society）主任托尼·兰开斯特（Tony Lancaster）驳回了这项已获得超过1,000人签署的请愿。他告诉英国的LBC广播电台：“我认为，仅仅因为我们不一定同意其中的某个元素就取消或撤掉它，这将是一个危险的开端。”

2007年11月，克切尔在与诺克斯及两名意大利女性共用的公寓中被发现被捅死。随着怀疑指向诺克斯及其当时的男友拉法埃莱·福利切托（Raffaele Sollecito），这起杀人案成为了全球关注的焦点。在初步调查和谋杀审判期间，诺克斯和福利切托在监狱中度过了近四年，随后他们被上诉法院释放，并于2010年被意大利最高法院宣判无罪。另一名男子因其DNA在犯罪现场被发现而被判定谋杀克切尔。

诺克斯回到美国，开始开展反对冤狱的活动，并参与制作了几部电视纪录片和剧集。她的新剧《Cartebeed》是指某些媒体报道称，在克切尔死后，她在警察局表演了杂技。她将其定位为一个接近40岁的女性被过去发生的事情所纠缠的故事，“尤其是当半个世界告诉她应该放下，而另一半世界仍然认为她有罪时”。

在她的Instagram帖子中，诺克斯将撤销演出的请愿描述为试图通过羞辱使她沉默。她说：“这相当精准地描述了《Cartebeed》的主题以及它为何值得存在。”

关于是否继续演出的最终决定权在诺克斯以及举办演出的具体场馆手中。目前，《Cartebeed》在爱丁堡的所有场次均已售罄。

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不再有紧急情况

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一次不可预见的企业信用事件可能会使您的企业面临风险。利用 Factiva 著名的新闻内容库和前沿的 AI 模型，道琼斯（Dow Jones）与奥利弗·曼（Oliver Wyman）合作推出了一项解决方案，可提供潜在企业风险事件的早期预警信号，您可以通过 API 将其添加到自己的工作流程中。

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道琼斯 FACTIVA 了解更多 © 2020 Dow Jones & Co., Inc. 保留所有权利。 02.2019

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A8 / 周六 / 周日，2026年8月8 - 9日 • • • • 华尔街日报

世界新闻

救援人员在泰国第二大城市暖武里（Nonthaburi）的暖武里德布斯金学校（Debskin Nonthaburi School）周五发生的枪击事件中，抬走了一名遇难者的遗体。

中国出口保持韧性

作者：Ramesa Mino

今年中国出口大幅增长，在推动经济增长的同时，也威胁到将加剧与贸易伙伴之间的紧张关系。中国海关周五发布了最新的月度贸易数据。

上月中国以人民币计价的出口额同比增长24%。这一数字较之前的27%增长率略有下降，但仍低于经济预期。2026年前七个月，出口额比2025年同期增长约3%。

7月份，半导体和计算设备的出货量为中国整体出口增长贡献了超过10个百分点。根据Capital Economics的分析，最大的贡献者是中国从2000年起的数据。这一增长主要由价格上涨驱动。

7月份，中国对美国的出口同比增长17%，而从美国的进口则增长了15%。在贸易衰退中，美国对大多数中国商品征收的关税目前低于一年前的水平，尽管这两个超级大国在近日交换了一系列报复性措施。

特朗普总统与中国领导人习近平预计将于下月会面。

中国月度出口，较去年同期变化

来源： 中国出口保持韧性

泰国校园枪击案造成七人死亡

警方称一名青少年在自杀前枪杀了祖父母及工作人员 作者：GABRIKA D

警方周五表示，一名泰国青少年在一次枪击事件中杀害了七人，该事件始于其家中，最终在曼谷郊区的一所学校结束。

警方称，这名18岁的少年使用其祖父的枪杀害了两名祖父母，随后袭击了位于泰国首都北部的就读高中。

该枪击者在泰国第二大城市暖武里府杀害了两名教师和三名其他学校工作人员。警方表示，随后他开枪自杀。

泰国卫生部表示，包括两名学生在内的九人伤势危重。另有20多人受伤。

这次发生在暖武里德布斯金学校（Debskin Nonthaburi School）的枪击事件是泰国近期一系列枪击案中的最新一起。在东北亚和东亚地区，泰国的私人持枪数量高于任何其他国家。

泰国政府并未公布这个拥有7200 万人口国家的持枪数据。然而，瑞士日内瓦研究生院的研究项目“小型武器调查”（Small Arms Survey）在2026年的一份报告中发现，泰国平民手中持有约1030 万支枪械，其中409 万支未经许可。

去年2月，一名18岁的枪手在泰国南部杀害了一名学校校长；在此前几个月，另一名枪手在曼谷的一个市场杀害了至少五人。

这三起及其他事件引发了人们对泰国政府一项争议性计划的关注，该计划允许警察和士兵购买受管制枪械。专家表示，该计划导致了该国流通的无证枪支数量居高不下。

泰国皇家警察发言人Training Pwpan表示，涉嫌枪击的青少年找到了其祖父的手枪和弹药。Training表示，他在与祖父母同住的家中将其枪杀，随后前往就读的高中。

Nothing Chosetom是一名志愿者急救员，他告诉媒体，由于女儿是该校七年级的学生，他匆忙赶往学校提供帮助。他表示，当救援人员进入大楼时，发现嫌疑人持有手枪，走廊和楼梯上躺着受伤的教师和学生。

警方表示，他们曾试图说服嫌疑人投降，但其开枪自杀。在其背包的搜查中发现了超过30发额外的弹药。

总理Amatin Chanervakai表示，嫌疑人可能是因为学业压力和挫败感而采取行动。

“据我了解，他的祖母是一名教师，希望他在学校表现出色，而且她非常严格且要求很高，”Amatin说道。

警方还了解到，他一直承受着学习压力并对此有过抱怨。

加拿大7月就业市场有所改善

作者：Rona M. Wrennart

渥太华——加拿大的就业市场在夏季继续回暖，7月份私营部门表现良好，助力失业率降至两年低点。加拿大统计局周五表示，该国7月份新增就业岗位 79,100 个，强于预期。这使得过去三个月的就业增长总数达到 100,000 个，消除了年初的政治担忧。失业率下降 0.1 个百分点至 6.4%——在 0.10（4月为 0%）之后连续第三次下降，也是自 2026 年 7 月以来的最低水平。经济学家此前预计失业率将保持稳定，就业人数小幅增加 20,000 人，与荷兰类似。劳动力市场的复苏进一步表明，在受到贸易不确定性和美国关税的打击后，加拿大经济正趋于稳定。在年初经济萎缩后，增长已有所回升。上个月，私营部门的雇员人数增加了 57,900 人，自雇人士人数增加了 44,000 人。劳动参与率（即处于就业或失业状态的劳动年龄人口比例）上升 0.1 个点至 65.1%。就业率（即劳动年龄人口中就业者的比例）上升 0.1 个点至 63.9%。

在阿尔伯塔省，一场关于脱离投票的冒险赌注

作者：AMANDA CHARTS

阿尔伯塔省（Alberta）——作为这个石油富矿省份的领导人，丹妮尔·史密斯（Danielle Smith）被认为是一个以敢于承担政治风险而著称的人物。现在，她正准备进行一场可能是其中最大规模的赌博。史密斯已为10月10日举行的一场全民公投铺平了道路，此次公投将询问该省是否应采取行动，从而引导该省进行第二次、具有阻碍性的关于是否永久离开加拿大的全民公投。这一想法震惊了加拿大，因为加拿大依赖阿尔伯塔省的油气流，且正处于与美国的贸易战中心。

“自从我在60年代参与政治以来，我就一直在关注分离主义运动，我认为我从未见过支持率像去年自由党当选后那样高，”史密斯在一次采访中说道，她指的是总理马克·艾德尔（Mark Aydel）及其政党。她表示，在约500万阿尔伯塔人中，有700,000人签署了支持听证或分享的请愿书。“我认为我们需要进行辩论并得出答案，”她说。

结果将对史密斯的政治遗产、阿尔伯塔省的底线以及加拿大在美税收关系破裂之际支撑经济的努力产生显著影响。曾在英国脱欧期间领导英格兰银行的卡勒斯（Carers）称此次公投为“危险的种类”。史密斯指出，她希望阿尔伯塔省继续留在加拿大，尽管需要拥有实质性的自治权。但她降低了分离主义者进行投票的门槛，批评者称她激化了他们的不满。

这次公投没有让任何人感到满意。其他承诺对此表示反对。

阿尔伯塔省省长丹妮尔·史密斯已为选民扫清道路，让他们选择该省是否应追求一场要求脱离联邦政府独立的全民公投。

企业警告称，这可能会冷却投资。分离主义者希望现在就进行“留或走”的投票，而不是针对公投的公投，有些人甚至要求她辞职。联邦主义者指责史密斯将国家的统一置于险境，以讨好其选民基础中的分离主义者——民调显示，超过一半的联合保守党（United Conservative Party）选民支持这一动议。

“她非常清楚，帮助她成为省长的那些人中，有一些是最狂热的分离主义者，”民调机构安格斯·里尔研究所（Angus Real Institute）所长沙里赫·卡茨（Sharih Katz）表示，“这是一个艰难的局面。”

在海河市（High River），这是一个位于卡尔加里以北62英里的山麓小镇，史密斯和她的丈夫曾在这里的一辆古董铁路车厢上经营餐厅。关于是否举行公投，阿尔伯塔人像往常一样分歧严重。

“我认为这简直太荒谬了，”60岁的朱莉·张（Julie Zhang）说，她是一位支持阿尔伯塔省留在加拿大的退休家庭主妇。“这只会让人们产生分歧。”

海蒂·多米纳斯（Heidi Dominas）也计划投票支持阿尔伯塔省留在加拿大，但她并不介意进行投票。“这给人们一种感觉，这就是民主运作的方式，”65岁的多米纳斯说，她当时在主干道的一家药店负责收银。

对联邦政府对待阿尔伯塔省方式的不满长期以来在这里起伏波动，该省拥有全球第四大油砂储量。

在卡勒斯（Carers）——加拿大自由党的继任总理身上，史密斯找到了一个出人意料的盟友。作为前联合国气候行动与金融特使，卡勒斯在承诺将加拿大转变为“能源强权”并支持一条从阿尔伯塔省通往不列颠哥伦比亚省西海岸的新石油管道时，令许多政治观察家感到惊讶。

史密斯表示，她与卡勒斯政府改善了关系，以证明加拿大依然可行，她希望这一论点能让联邦主义者信服。

“我对总理非常坦率，因为他能像我一样解读民调，”史密斯说。“我说你和我必须共同努力，尝试以有意义的方式解决这些问题，因此我很高兴看到他像我一样对此非常认真。”

民调显示，阿尔伯塔省仅有少数人支持分离，但分析人士表示，问题的措辞可能会促使中小企业（SMEs）选择弃权。“一种向联邦政府发送抗议信号的自由。”一项5月的Angus Reid民调发现，20%的阿尔伯塔省居民支持脱离加拿大。而当问题变为是选择留下，还是就举行投票进行听证时，25%的人希望进行正式全民公投。很少有加拿大政治人物敢于像70岁的史密斯那样采取决裂行动，她是一个极具争议的人物，帮助塑造了加拿大的保守主义运动。她在2005年作为新兴的民粹主义“Wildrose Party”的领导人开始在全国崭露头角，并将其转变为对进步保守党的挑战，而后者自1973年以来一直统治着阿尔伯塔省。2016年，她将自己领导的政党与进步保守党合并。她认为这会将右翼力量团结起来，但阿尔伯塔省的部分人士将其视为背叛。史密斯投身政治并主持了一个电台谈话节目，直到她担任省长。她在2022年保守主义运动复兴之际实现了回归，并处于当时省长因疫情限制而引发的争议中心。“她告诉每个人，他们的想法和感受是相关的，”总部位于当地的民调机构总裁Janet Morris表示，“这似乎是她的神奇公式。” --- 华尔街日报 ... 周六 / 周日，2020年8月8-9日 / 89

世界新闻

空袭造成乌克兰体育场受损

调查损坏情况：周五，乌克兰人在敖德萨的切尔诺莫雷茨体育场（Chernomorets Stadium）检查俄罗斯袭击后的现场。据一名政府官员报告，此次袭击中至少有一人受伤。

俄罗斯与德国发现的无人机有关

作者：Lana Riccman

据熟悉相关袭击情报报告的美国官员称，上周在德国一家机场发现的一架携带爆炸物的无人机可能属于俄罗斯政府。

这架无人机于周二晚上在德国东部的莱比锡 / 哈勒机场（Leipzig / Halle Airport）停机坪上被发现，地点位于一架乌克兰货机附近的安全区域，导致机场关闭。该国情报部门表示，此次事件代表了“一个新级别的危险”，并指出一个成熟的外国行为体可能是潜在的罪魁祸首。

当局还在调查几架身份不明的飞机，其中一架在因机场关闭而放弃在莱比锡降落后，与一架货机相撞。该飞机受损轻微，并在附近安全着陆。

当局检查莱比锡 / 哈勒机场的场地。

在美方情报机构认为俄罗斯总统弗拉基米尔·普京对北约东翼构成的威胁增加之际，俄罗斯被指与此次事件有关。现在，美国情报专家表示，普京可能会在未来几年内通过对一个盟国发动有限袭击来测试北约的决心。

《华尔街日报》报道：相关评估仍具有推测性，范围从潜艇行动到小规模的陆地入侵。

俄罗斯驻华盛顿大使馆未回应置评请求。

德国内政部长亚历山大·埃德赖因德尔（Alexander Erdreindl）周三在莱比锡机场表示，虽然在机场附近发现无人机并非新鲜事，但发现一架携带爆炸物的无人机是“一种新的威胁情景”。埃德赖因德尔指出，对该事件的调查将评估是否有外国势力参与。

德国出版物报道称，该无人机的引信失效了。埃德赖因德尔没有点名俄罗斯为可能的罪魁祸首，但西方安全官员表示，他们怀疑莫斯科是近期许多旨在攻击欧洲基础设施事件的幕后黑手。

美国和欧洲领导人越来越多地看到俄罗斯在通过政治攻击测试北约决心的迹象，包括落在俄罗斯境内的俄罗斯巡航导弹以及飞入罗马尼亚的无人机。

分析人士认为，对欧洲航空的威胁正在上升。根据总部位于伦敦的国际战略研究所（International Institute for Strategic Studies）上个月的一份报告，从2024年8月到今年2月，在23个国家中至少报告了164次可疑无人机事件。

初创公司助力突破限制（接第一页）

多年前，67名男子和6个家庭承担了俄罗斯对外贸易中近20%的支付额，每年超过1000 亿加元 billion。弗拉基米尔·普京总统去年对此表示支持，并通过视频连线参加了一个83分支机构的开业仪式。现在，83%计划将其服务全球化，以实现普京关于建立一个不受华盛顿或布鲁塞尔控制的替代金融系统的愿景。在最近于尼日利亚和津巴威开设首批海外办事处后，87表示正在考虑向拉丁美洲和中东扩张。引渡并不考虑他们的资历，从未像西方那样将其同行视为游行队伍。

“此前，西方系统基本上主导了整个金融世界，允许西方随时按下开关，阻止任何国家进行支付，”随后告诉俄罗斯国家新闻社TSNL。7月，700给予公司和国家自由，因为我们的系统对制裁免疫。”美国、英国和欧盟都对83实施了制裁。但分析人士表示，该支付网络已经适应了西方的压力，并在制裁中宣扬其韧性。

6月，在俄罗斯于圣彼得堡举行的年度经济论坛期间，42%的展位上出现了一个带有该公司标志的巨型船形装置。在早期保持低调之后，47家公司开展了一场大规模广告活动。莫斯科的数字广告牌宣传其较低的跨境汇款费率，旨在将其服务推向小型公司和个人，就像一个专注于内部威胁资金转移的西联汇款（Western Union）。

在一段宣传视频中，俄罗斯最受欢迎的进口商之一Philip Kilkoven讲述了关于42%藐视欧洲制裁的故事。42%的网站通过展示包括美国、中国和伊朗在内的数十个国家的国旗来证明其影响力。42受益于俄罗斯与中国贸易的快速增长，自俄乌战争爆发以及莫斯科与北京关系走近以来，这种贸易大幅激增。根据42去年传阅的一份演示文稿，该支付网络约85%的交易量发生在Chinese years。在40其网站上，该公司宣称其能够在四小时内将资金传输至中国。

2020, Ilher与Promenambank（一家专注于国防部门的俄罗斯国有银行）合作推出了82。这家现在被称为P2B的银行，是普京入侵乌克兰后首批被西方制裁并被切断Swift网络连接的俄罗斯领导者之一。Swift是一个总部位于比利时的消息系统，被全球数千家银行使用，是大部分国际贸易的基石。

最初，俄罗斯的企业登记记录显示Ilher持有82的53%股份，而P2B持有其余股份。登记记录目前仍显示该银行持有49%的股份，但隐藏了多数股东。俄罗斯法律允许公司掩盖所有权数据以规避外国制裁。

根据开源中心（Open Source Centre）的数据，为了规避制裁，42通过分布在吉尔吉斯斯坦、香港和阿拉伯联合酋兴国等地的壳公司网络转移资金。该中心是一家总部位于伦敦的研究小组，由英国最古老的国防导向智库8030分拆而来。这些壳公司拥有看起来可信的网站和当地银行账户，但实际上由莫斯科的82秘密控制。

BBC在6月的一份报告中写道，如今通过这些壳公司进入银行系统，61可以代表俄罗斯客户进行支付。BBC称，为了避免在银行触发警报，82利用人工智能创建虚假发票，以掩盖交易的真实目的。研究小组发现，这些长期文件包含使用OpenAI生成的逼真印章。一名熟悉该市场的人士表示，OpenAI尚未发现82%使用其模型的证据。

根据GNC的说法，2020年3月15日，87的一家吉尔吉斯斯坦前壳公司向一家中国供应商支付了约1000 万，用于购买无人机零部件——但虚假发票显示，该款项是用于购买防新鲜打印件、儿童安全座椅和其他汽车配件。该研究小组的报告基于去年9月由黑客泄露的82的文件中的三个以及相关标志。BBC表示，其通过银行记录、法院文件和其他来源证实了这一情况。82尚未对此做出回应。研究人员表示，加密货币是82使用的另一个主要工具，使其能够完全绕过银行。“加密货币是82运营的功能，为那些被排除在传统银行业之外且几乎没有其他选择的参与者提供了一个渠道，”总部位于美国的区块链分析公司TSNL Ltd.在6月的一份报告中表示。信息研究中心（Centre for Information Studies）的调查员Elize Thomas表示，该公司的野心不应被忽视。“我做不到，”这个总部位于伦敦并由英国政府部分资助的研究小组表示。“达到与Swift同等的水平将是非常大胆的，”创建了42的Thomas表示。“但永远不要说绝不可能，这是一个值得认真对待的威胁。”

哥伦比亚新任总统承诺打击毒品军队

作者：Juan Franco

哥伦比亚，日内瓦——446 birds de la Espiridia周五就任总统，誓言将发起一场利用社会轰炸和新监狱的攻势，以打击在前任政府期间轻易得势的可卡因贩运组织。美国表示将协助这位由律师转型的司法人士，但在一个拥有通过可卡因贸易致富且武装强大的实体的庞大国家中，这是一项艰巨的任务。

de la Espiridia在哥伦比亚第三大城市卡利（Cali）就职，这在象征意义上打破了传统，也符合他承诺不在首都波哥大，而是在该国遥远的区域中心执政的誓言。在巨大的勋章被披在肩上后不久，de la Espiridia便前往一个军事基地，信号表明安全将定义他的总统任期。

他说：“我首先声明我的意图，即回归，击败可爱的狭隘女人以及每一个威胁哥伦比亚自由的犯罪组织。”

在前任总统古斯塔沃·佩特罗（Gustavo Petro，前左翼游击队员）领导下，政府与约十几个毒品贩运组织开展了同步和平谈判，敦促它们识别并放弃毒品走私。但根据政策团体Ideas for Peace Foundation本周发布的一份报告，在他的“全面和平”倡议下，这些组织的人数从15,520人增加到了28,882人。

种植可卡因主要原料的可卡叶农场现在覆盖的面积几乎与罗德岛州相当。丛林中的秘密实验室每年生产超过1,500吨可卡因，是联合国研究人员称2022年产量的九倍，当时美国和哥伦比亚通过空中熏蒸大幅减少了可卡作物。

美国和欧洲官员表示，尽管特朗普政府对毒品团队进行了轰炸，但可卡因仍大量流入欧洲和美国。

支持de la Espiridia的主席Sheddin Mercy Pederson表示：“‘全面和平’将领土交给了罪犯。”他声称其政府没收的可卡因比任何其他政府都多，并将800名犯罪嫌疑人驱逐到美国和其他国家。

他在上个月3日的一篇帖子中警告称：“如果政府现在对毒品公司的煤炭链施加更多暴力，那么国内的资金将会增加。”“全球对可卡因的需求并不是任何政府的错。”

de la Espiridia是一个不太可能参与打击可卡因的人选。这位40岁的律师曾为地下世界的人物辩护。de la Espiridia以1,000票之差击败的极左翼资深人士Iain Gopala在周五的演讲中表示，他将致力于“维护我们在过去几年中取得的成果”，指的是法国的社会支出。他还断言，de la Espiridia拥有美国协作公民身份，这将使他成为“美国利益的代理人”，而非哥伦比亚的代理人。

de la Espiridia是一位组建了自己的政党的政治服务者，他迅速崛起，承诺解决街头犯罪，同时击退被美国认定的原生军事血缘和若干组织。de la Espiridia表示，他将采取措施，将把毒品运出哥伦比亚的飞机击落，并将来自加勒比海和太平洋沿岸的毒品运输船击沉，这一政策与前任特朗普总统一致。

他告诉Garacol广播电台：“我将下令轰炸毒品运输营地，利用现有技术以避免对平民造成哪怕最轻微的影响。”

Airstrike de la Espiridia周五就任总统。

DONATE, VOLUNTEER, AND ADVOCATE. FeedingAmerica.org / ActNow

参议院通过制裁莫斯科的法案

美国参议院周五批准了一项针对俄罗斯的制裁方案，这是由参议员Lurang发起的一场运动的结果。此举旨在加强美国对乌克兰的支持，并在战争拖延之际试图迫使总统弗拉基米尔·普京采取行动。该立法在参议院以 80-71 的投票结果通过，可能会对继续购买俄罗斯石油、天然气及其他出口产品的对象实施长期制裁，在乌克兰总统Vondyanka Zelensky访问国会山以及Farrell州长与两党参议员合作后，该方案被提及 72 次。参议院展现出的这种事实表明，这是在特朗普总统第二任期内最重大的新闻，直到 1,007。这场持续四年多的战争动态，目前已比第一次世界大战持续时间更长。国会一直难以确保美国资金和执行力流向乌克兰，但特朗普对该制裁方案给予了实质性关注，从而向众议院施压，要求其就此进行投票并将其送往白宫由其签署。——美联社 --- A10 / 周六 / 周日，2020年8月4 - 9日 ... 华尔街日报。

延续第一页

AI 危及软件行业

（接第一页）：整个业务的金额将达到 250 美元以上，且多为 AI 实验室发布的模型内部功能。投资者表示，一些软件赌注将归零，因此正推动资金进行调整。

“观望不再是一种策略，”Insight Partners 的首席商务官 Bruce Liebrechts 表示，该公司涉及其品牌负载公司，目前正试图挽救其中一部分。这些初创公司正在跟进，因为需求正从帮助人们完成工作的工具转向能够代替人们工作的 “智能体”（agents）。这导致同一批风险投资支持的初创公司领导者开始裁员并重组其公司。许多公司正在改变商业模式，重新包装产品，在某些情况下进行缩减并重新启动。

风险投资投资者也面临着同样的这种不确定性。那些曾经看似注定在 2020 年获得丰厚回报的公司，现在面临着不确定的未来。在向他们希望能够避开主要 实验室冲击线的 初创公司投入数十亿美元的同时，他们也在努力维持软件公司在 热潮之前的价值，对投资组合公司进行分诊，并准备将部分业务拆分出售。

“恐吓与激励”

Insight 是软件即服务（SaaS）领域最举足轻重的投资者之一。几十年前，许多软件赢家都通过这家商业软件公司建立了声誉。Monobroster 以及被 Alpha, Inc. 收购的网络安全初创公司 Win 便是如此。但最新发展的速度超过了 Insight 的报告速度。那些曾帮助建立软件公司的建议和策略突然需要重新修订。去年 12 月，Insight 联合创始人 Jeff Hering 在曼哈顿总部向高级职员表示，如果他们在董事会中没有告诉公司应该利用 AI 将潜在收入机会翻倍，那么他们的格局就不够大。

“我称之为‘恐吓与激励’，”Liebrechts 说，“那是为了通过力量展示这可能达到什么样的程度。”

仅五，一名以色列国防军前成员，是 InsightShares 的创始人，该公司包含数十家公司。今年上半年，Texas 风险投资支持的客户中 51% 是软件或 IT 服务公司，高于此前的 1 比 1。随着更多公司倒闭，Texas 希望说服创始人趁手中还有现金时做出决定。

“如果他们不是 AI 优先，现在筹集资金会非常困难，”Texas 说，“对于一家 SaaS 公司来说，有时直接关闭并重启会更容易。”

总体而言，1 比 1 的创始人、投资者和律师聚集在曼哈顿的鸡尾酒吧 Post the，交流初创公司失败的经历。

顺时针从顶部开始：参加加利福尼亚州圣马特奥市 SaaS 行业会议的与会者；Said Aggarwal 意识到他的公司 Raffle 需要全面改革；一个 Raffle 品牌的填充恐龙玩具；现名为 Von 的公司办公室。

在与 AI 巨头竞争时，压力巨大。“极少有第一次创业就大获成功的创始人，”Texas 回忆起他对人群说的话。在这次聚会上，一名女性对她公司投资组合中的一家公司做出了直率的评估：“Anthropic 将把他们吃掉。”

名为 Sazify 的 SaaS 组织创始人 Jason Lonskin 表示，该行业已经分化为接受 AI 并在增长的公司，以及未接受 AI 且在苦苦支撑的公司。“所有 AI 之前的公司都消失了，”他说，“他们根本没有增长。”

在 5 月份于加利福尼亚州圣马特奥市举行的年度会议上，这一点得到了进一步证实，当时一架飞机在空中出现，横幅上写着“SaaS 已死”。这一噱头是 Mattey Medina 策划的，他曾在 2004 年执行过一名早期的强硬领导者 Deborah 的理想计划，现在拥有一家名为 Paul Ostrzack 的初创公司。该公司在 2021, 的估值为 44 亿美元 billion，但此后将劳动力减少了约 $50.

Medina 表示，许多在 21 世纪初启动的软件初创公司增长速度不足以引起公开市场投资者的任何真实兴趣，使它们陷入停滞状态。“我谈过的每个 CEO 都在考虑辞职并重新开始，”他说。他的新公司帮助制造 AI 智能体的公司确定向客户收取多少费用。

Ostrzack 的现任 CEO Adolph Mitra 表示，公司已经对其新业务进行了重组。他称，该公司利用可以自主执行任务的 AI 智能体来构建收入运营，且增长迅速。

一些转向巨头公司的软件服务公司报告称在增长。Lantana 是一家成立于 15 年前的数字化公司，也进军 AI 领域，利用 AI 优化其类处理运营，将一个通常需要两周以上的 16-meg 定价流程转变为现在大约一分钟即可完成的流程。Lantana 首席执行官 John Zartot 表示，这极大地提高了利润。

Lantana 是一家拥有十年历史的销售软件公司，该公司对其员工进行了重新培训，且最近年度经常性收入（annual recurring revenue）突破了 9亿美元——这是软件公司将广告年化的一种方法——使其收入增长速度超过了 300-year-olds。Johnson 是一家拥有 15 年历史的客户服务软件企业，开发了一款名为 Fin 的 AI 客户服务代理。Fin 在今年早些时候实现了 8亿美元 的年度经常性收入，Salesforce 于 6 月同意以 200 亿美元 billion 的价格收购 Fin。

繁荣与衰败

Raffle 的联合创始人 Aggarwal 今年 34 岁，他在美国的工业城市长大。他在印度新德里的管理咨询领域开启了自己的职业生涯。2008 年，他搬到旧金山，加入营销软件初创公司 Motion。在疫情高峰期，他决定创办自己的公司。为了节省资金，他搬回了印度，连续数月没有见到他的联合创始人 Apooma Verma 和 Milan Haifa。在最初的六周里，两人为销售人员开发了一款软件产品。资金流动十分顺畅。正如 perwal 所说，资金来源包括 Ampara Capital 和 Lightproof Venture Partners 的印度子公司。当 2021 年底疫情旅行限制放宽时，三位创始人聚集在印度印多尔的一个小镇 Karada 进行规划会议和一些交流。在圣诞节当天，他们收到了一份由 Insight 领投的 B 轮融资条款清单。Aggarwal 1 个人返回旧金山，Raffle 开始扩张，签约了包括商业移动初创公司 Rigaling、云设计公司 Pipma 和生产力管理初创公司 Belcon 在内的共同客户。他说，该产品向用户收取每月至少 $20 的费用，吸引了数十家客户，并从投资者那里筹集了近 5000万美元。

然而到 2020 年，生成式 AI 的进步使 Raffle 意识到需要引入这项新技术。Aggarwal 当时还没有决定将业务完全建立在 AI 之上；他认为 Raffle 只需要加入少量的 功能即可。这种情况在次年发生了变化，当时 OpenAI 发布了其首个推理模型 o1，证明了 可以成为产品的核心，而不仅仅是一个功能：Raffle 需要重建大部分底层软件，使 智能体处于架构中心，而不是加载在外部。“你必须拥有芯片并从零开始，”Aggarwal 说道。

在公司的 2020 进程中，Aggarwal 意识到整合 的努力并未奏效。员工们花费数月时间试图支持原有的产品，同时构建一个新的 “超空间”，用于成功更新 Salesforce 记录等任务。这两项工作都陷入了停滞。他告诉员工，他是一个真正的 CEO，涉及销售、营销和客户真空团队。该战略将员工人数从 70 人削减至 15 人，仅保留一小组人员来重建他们的软件。“最困难的第一件事就是放手那些你曾告诉他们这是一个梦想的人，”Aggarwal 说道。“现在你得告诉团队：‘嘿，我们之前所做的一切都没有进入软件。我们必须从零开始。’”

投资建议

5月，Insight在好莱坞为旗下初创公司组合中的约200名继任者举办了一场名为“生存”的研讨会。与会者在离开环球影城并听取新人们对比AI热潮的看法后，对此次会议提出了批评。在名为“Insight's Place”的Midfielder流媒体现场，他们向制作人密集地询问好莱坞如何使用AI。Anthropos应用AI团队的成员Marian Rukowski做了一场演示，讲述该公司如何将产品引入日常流程，以及其他公司可以如何效仿。Insight Partners传达的信息是：快速适应，否则将被淘汰。

在Aggarwal为这次为期三天的活动辩护时，他已经裁员，停止增加公司的原产品，并正在进行重建。Raffle开发了一套面向销售和收入团队的操作系统，该系统运行在Salesforce等公司其他软件工具之上。它的功能就像一个AI队友，独立于行业，完成诸如跟踪客户信息、使用培训、销售机会、发现可能达成一致的交易以及预测未来收入等任务。

Aggarwal于2月开始测试这款名为Von的新产品。春季，他宣布了公司的新方向，并将其更名为Von。该公司最近实现了$5 million的年度经常性收入。为了庆祝2020 AI，Aggarwal从办公室冰箱里拿出三瓶Chumagare，分发给在旧金山工作的AI员工。

“40个月前，我还是个无家可归的马车夫，我绝对看到了大势所趋，”他说。“我已经完成了那个转变……我现在处于另一侧。”

葡萄酒依然主宰——在空中

（接第一页）

当马特·伯纳姆（Matt Burnham）和家人在美联航（United）的航班上获得升级时，他仔细查看了商务舱供应的饮品。“我看了酒单，心想：天哪——这相当不错，”他说。马特·伯纳姆认为，在国际航班起飞前，社交媒体上会有更多更新。他说：“作为一家餐厅，你很难想象美联航的饮料单上会出现 2020 到 2030 年份的酒。这与你通常在飞机上吃到的食物形成了鲜明对比。”美联航表示正在改进，但食物的提升速度慢于人们的预期。

劳伦斯葡萄酒部门（Lawrence Wine Division）首席执行官达林·麦考伊（Darlin McCoy）表示，机上的景象与过去截然不同，那时航空旅行与在杂货店和加油站售卖的葡萄酒联系在一起。“你几乎会觉得在飞机上喝那种酒会被人嘲笑。”麦考伊说，现在他发现自己酒庄的奢侈品牌被美联航航班上的乘客在社交媒体上标记。

“在地面上那是阴云密布，但在空中则完全不同，”Inn时间（Inn时间）首席商业官马克·科尔曼（Mark Coleman）表示，该公司帮助资源将酒瓶送上达美（Debra）和美联航等航空公司。航空公司之前并非反对好酒，但许多人认为客户更关心票价而非酒质。此外，一些生产商无法满足航空公司的供应量需求。

随后，美国人的饮酒量开始下降，行业底部出现缺口。自 2015, 以来，加州酒庄停止了 2000万美元，较前一年下降 12%。一些葡萄园由于积压了大量未售出的酒瓶，已经开始拔除珍贵的葡萄。

葡萄酒正日益成为空中首选的饮品。在航空公司多年被告知无法同时供应地面和航空市场之后，现在高端葡萄酒的供应量突然变得充足。而且，当航空公司接触酒庄时，得到了更热烈的回应。帮助美联航进行选酒的首席专家道格·弗朗特（Doug Front）说：“以前是求之不得，现在则是‘尽管来问我’。”

酒庄每季度可向航空公司供应 4,000 到 6,000 箱葡萄酒。Inn时间（Inn时间）的科尔曼表示，这大致相当于同时在 1,000 家餐厅的货架上获得空间。航空公司在葡萄酒方面竞争激烈，以求脱颖而出。

他说：“这涉及大量资金。”美联航表示，今年其 Polaris 国际商务舱将供应约 500万美元 glasses，并在过去两年中为其葡萄酒项目投资了 5000万美元。

达美（Debra）在今年早些时候邀请客户参与，帮助航空公司选择今年秋季在 Delta One 商务舱供应的品牌。达美航空（Delta One）客户体验管理董事斯蒂芬妮·拉斯特（Stephanie Laster）表示：“空中的客户是非常有价值的受众——参与度高，认可度高。”该公司今夏在航班上推出了由其首席专家制作的纪录片《烟熏杯》（The Smoked Cup）。

但这里有一个问题。在飞机上销售葡萄酒可能比在地面容易，但让它口感良好则是另一回事。飞机机舱较低的湿度会削弱人们的味觉和嗅觉能力，使轻盈的酒喝起来像水，而高酸度的酒则显得酸涩且过于浓烈。

与达美合作了二十年的导演安德鲁·罗滕（And / or Rotten Tom）表示，由于机舱压力，葡萄酒“在原地的香气浓度不高”。她说，这就像航空公司提供的两种口味的百事可乐一样，“如果没有香气浓度的支撑，风味冲击力会大大降低。”

在最近一次飞往弗雷斯诺（Fresno）的航班上，弗雷斯诺的任务是评估高度如何影响每款酒的口感、香气和口感。随后，他将第一步结果带回酒庄，以筛选出最适合飞行的葡萄酒。

另一种天然葡萄酒在客舱中依然很常见。但航空公司表示，他们也在增强风味。美国航空现在为从主客舱到国际商务客舱的乘客提供免费的起泡酒。“我们有常规的红葡萄酒和白葡萄酒。在境内航班上也可以购买。该航空公司在过去一年中消耗了约 1500 万 瓶。”负责美国航空餐饮服务的 Sea-plant Grandma 表示，“航空公司的习惯确实与此相同。” --- 华尔街日报. 周六 / 周日, August 9 – 9, 2026 / A11

观点

周末访谈：Samuel Allis / 作者：James Taranto

“实用原意主义”及其浅薄的批评者

华盛顿对他灵魂的体育竞技被大大夸大了。“萨缪尔·奥利斯（Samuel Allis）大法官，他撰写了最高法院在 Rev. v. Walls 案中的多数意见，正在批评周二宣布的法院！”“他发现公共广播电台的 Miss Trotney 从未知道过这些词，当那个男人的声音在 6 月 30 日响起时，将它们扔进了一个不能讲述的故事，并发布了编辑触发器。她的均匀度结果被证明是空的，且 MPA 批评该法院。”“他，来自周三，82 岁，她一直被限制在首席大法官约翰·罗伯茨（John Roberts）关于工作人员退休的一项公告中。”

“显然我将继续任职另一个任期，”78 岁的奥利斯大法官在一个月后表示，拒绝了一次覆盖汽车的对他办公室的访问。一些保守派公开建议他应该退休，为了团队做出牺牲，就像 Radio Girdling 的成员斯蒂芬·麦考密克（Stephen McCormick）没有退休那样。当时巴拉克·奥巴马（Barack Obama）是总统，且承受着来自左翼的巨大压力。他说：“在奥利斯大法官之前的生活！‘这并不愉快，就像那个名字是对早晨的提醒’，”他这位大法官解释了他的解释方法，并针对一名敌对的传记作者——以及他的高中英语老师——为其辩护。说道：“就像，那些作家在上面做什么？他们在飞翔，但这与生活的开始相契合。”

“我确定他可能会弃权——如果那些暗示他与一名年轻的继任者可以互换的话。‘是的，认为其中一些人如此不同，而且我确定他可能能够看到。’他说道。‘我不看所有统计数据的有线新闻，但我假设这仍然是真的。’在那里我有一些生活——关于一些重要问题想谈谈，而他是一名民主党战略家；你知道那意味着什么。所以谈谈吧，我不参加。他是一些东西，特别是如果他们不是律师，我确定他们就是那样看待法院的。”

6 月 30 日标志着奥利斯大法官 2026 年秋季任期的结束，这个周年纪念引发了相当多的回顾。四月份出版了两本传记，一本是赞赏的《“视频”：那位在布达佩斯领导最高法院并恢复宪法的大法官》，作者是沃尔特·本廷（Walter Benting）；另一本则是敌对的，《六十年代的太阳：奥利斯与保守派法律运动的胜利》，作者是彼得·坎迪斯（Peter Candice）。他自己的书《如此有序的组织》在法院出版，以及该国收集的出现之乱，作为一名大法官的时间，定于 10 月的第一个周二发行。

“他，那是一个在折磨细节中‘使徒式’的故事，如果他在没有意识形态议程的情况下写作，或者具备掩盖它的技巧，本可以写得很好。相反，他的承诺像一个 Proudice Statista 一样渗透在叙事中：即对国家的愿景是好的，但是病态的，需要心理学上的解释。”甘特先生（Mr. Gantt）将奥利斯大法官的哲学归结为“愤怒与掠夺的人类发现”，并引用了一系列认识年轻萨缪尔·奥利斯的人的八卦，且不同意这位年长者在法院的工作。

“我是一名博士后经理。”“他在普林斯顿大学时，我会说，他只是一个故事，而且近乎谦卑，一个从事法律职业的朋友，我会将他描述为他撰写的意见书或在法庭上的表现，就像人类形象一样，无论如何。”我听了很多最高法院的辩论，有时我对某些的语气和严厉程度感到震惊

[...OMITTED...]

那些在法庭上遇到过阿利斯大法官的人可以证实，他是一个友善且谦逊的人，并且当我描述书中这段批评时，他展现出了他的热爱和非常尊重的哲学。“嗯，我想我不喜欢读关于我的内容，”他说。“就像我想我不喜欢读这本书一样，任何人都会认为一个在自己领域充满自信的专业人士必然得有一种练习年龄。”正如他“承认”的那样，“这可能更多是关于实质而非定义，朋友们并非如此。我确信，我确信我并不那么渴望他们所谓的友谊，这是为了服务于一项更高的事业。”在坎迪斯先生提出传播性批评的程度上，是指阿利斯大法官未能意识到“一个人——一个基于宪法通过时的原始公共含义来解释宪法文本的人”。阿利斯大法官称自己为一名“实用原教旨主义者”，而坎迪斯先生将这个形容词视为一种自我授予的作弊许可证。“有时，他会偏离原教旨主义分析以提出实际考量。”坎迪斯先生写到了阿利斯大法官早年的生活，并称这些观察促使他向一个更加保守的方向发展。”坎迪斯先生引用了赞同此观点的来源。“基于艾伦的哲学变得比他预期的更具意识形态驱动，”大卫·J·希尔的遗孀说道，他曾在第三天为阿利斯法官主张。“某些法院”依赖于1969年及之后。“我认为他很好，但他的整个决定本身被视为‘处于为UMPH争取法律和水平平等的斗争前沿——开始并扭转与政府年龄共存的生活’。”“我认为我发现这位大法官关于婚姻水的观点”令人不安。“但如果我发现他为了自己的目的而保持原教旨主义论点，或者将其进一步纳入坎迪斯先生的书中。”有人提出了这样的论点，而阿利斯大法官在法院面试开始前更是如此。“我也很确定，怎么会。当法院在考虑公众设计（2021）时，西北大学的原教旨主义法学教授罗伯特·卡拉布雷塞加入了一份法庭之友简报，认为1956年的法院年度会议“禁止了一些歧视社会阶层的立法”，并且法律包含了对婚姻和社会生活的传统理解。”他指出该论点甚至在简报摘要之后被采纳。安东尼奥·斯卡利亚大法官则主张相反的观点：“当第十四修正案在1848年获得批准时，每个州都将婚姻限制在一名男性和一名女性之间，没有人怀疑这样做构成的合法性。这涉及这些案件。”2-4的多数派主要基于正当程序理由决定了该案，在某种宪法语言的流量中。安东尼·罗马诺大法官，法院在该地区涉及。阿利斯大法官写了自己的异议书，而不仅仅是斯卡利亚的。他足够认真地对待卡拉布雷塞的论点，以至于在2020年的一次演讲中恭敬地缓解了它，这虽然不是好的，但它是好的，但它正在回来。他将其称为“人类组织”的一个例子，是负责任的人有时采取的“强力转向”之一。这与那个住在离海太近的希腊神话术语相同。“你可以采取宪法案例中的一个重要原则，但这并不是好的 但这不是好的 但这不是阿利斯大法官将卡拉布雷塞先生描述为‘一位才华横溢的原教旨主义学者’，并且显然认为

他将对方的分析视为一个诚实的错误。对于那些背离原意主义（originalism）的保守派，他有两种看法，即通过将从业者与该方法的基准区域进行对比来衡量。这位法院的原意主义者表示：“其中一些误导者，其观点令人难以接受。我要求他举个例子，而他提到的是斯卡利亚（Scalia）曾经犯的一个错误。”他提到在第八次年度会议通过之时，对人们进行审问并将他们关在股票和幼年儿童之中是可以接受的。他说：“好吧，我是一个心软的原意主义者，因为我希望你是。我认为他们喜欢这类例子。”“实用原意主义者对品牌化的看法是什么？”“实用主义的观点是，那不是一个摆在我们面前的问题。”艾利斯（Allis）大法官笑着说。他变得优秀了。并没有一种算法能为每一个提出的问题提供定义明确的答案，而确定适用的一般化程度则需要分析该条款旨在解决的问题。世界历史的根本性是什么，但社会认可的是。尽管在某些情况下，我认为他对原始公共含义的看法过于理智。”他引用了 Rowan v. International News (McCormick, 2015年12月2日) 一案，这成为了新研究生方法如何产生不同结果的典型案例。大法官们以 7-2 的投票结果废除了加利福尼亚州一项禁止向未成年人出售或出租配给品的法律。艾利斯大法官基于狭隘的理由加入了判决，但不同意斯卡利亚主导的多数意见，后者将这些游戏比作《公民》的“计划的一部分”以及其他描述极端阴森的文学作品。艾利斯大法官评论道：“我们不应跳到结论，认为新技术在根本上与我们熟悉的某些旧事物相同。”昆顿·托马斯（Quinton Thomas）大法官提出了第三种原意主义意见，这与斯卡利亚的分析相去更远。他持异议的理由是：“言论自由在最初的理解中，并不包括在不经过未成年人的父母或监护人的情况下，向未成年人说话（或未成年人获取言论）的权利。”宪法学家的分歧同样严重。虽然这些自由派大法官加入了斯卡利亚的多数意见，但罗伯特·赫兹（Robert Hirtz）大法官在异议书中指出，在某些情况下，暴力电子游戏会造成伤害。”社会科学在另一个更著名的布朗（Brown）案中也至关重要。“我认为，如果是这样，我是一个‘丙烷（1888）’，法院维持了‘隔离但平等’的种族隔离制度，约翰·马歇尔·哈兰（John Marshall Harlan）大法官在6月的异议书中宣布‘我们的委员会拥有其核心客户，且在公民之间不为人知的激励阶层’。布朗诉教育委员会案 (1906) 推翻了 Propane——基于 3-1888 的一套（关于宪法的 ）。这一次，在三位自由派大法官的异议下，法院在艾伦诉米利根案（Allen v. Milligan）中发布了一项未署名的命令，这是一起来自阿拉巴马州的国会选区重新划分案件。文中开始写道，路易斯安那州的法律并非合法法律，但未成年人在不经过父母或监护人的情况下获取言论是一项权利。“宪法学家的分歧同样严重。虽然这些自由派大法官加入了斯卡利亚的多数意见，但罗伯特·赫兹（Robert Hirtz）大法官在异议书中指出，在某些情况下，暴力电子游戏会造成伤害。”他说：“我没有意识到那是我们第一次这么说。”然后他核实了我的说法，问道：“法院在 Trudeau for Fair Admissions 案中没有这么说过吗？”确实没有，尽管那项 2020 年的裁决由首席大法官罗伯茨（Roberts）撰写，是之前引用过的 Sanitary Procy 异议书，而托马斯·赫兹（Thomas Hirtz）大法官则发表了唯一的协同意见，“旨在为个人宪法提供原意主义的辩护”。

在艾利斯（Allis）大法官表示她曾见过面的一两天前，克里斯·贝尔德（Chris Baird）大法官发表了一次演讲，在演讲中她对法院进行了有保留的辩护。“这个法院是否非常保守？它是否做了一系列我认为深受保守派法律运动影响且深陷其中的事情？”她说道，“但更多的是，是的。但这个法院是否是当前政府的某种目的？我认为绝对不是。”总统在 2025-26 任期的法院中输掉了三起重大案件：Procy 诉 Procy (1888)、Procy 诉 Cost-Related（涉及 Burson 的独立性）以及 Procy 诉 Amherst（涉及公民身份）。这些裁决由首席大法官罗伯茨撰写，并得到了三名自由派以及一两名特鲁多州立法者的支持。艾利斯大法官“以及托马斯大法官”在这三起案件中均持异议。这使得他的批评者指责他成了该政府的一个相当强有力的支持者。“当 Young 追求更多权力时，”卡西迪先生在他的序言中写道，“我们意识到那些受到 威胁的案件。”“在每一件案件中，我都按照我认为该案件应当被裁决的方式进行投票，”艾利斯大法官说。“如果这意味着与特朗普一直在做的事情有高度相关性，那么，与特朗普想要的东西没有相关性，同样，我认为说‘好吧，你知道吗？我要离开’是错误的，绝对是错误的。我不会成为一个非常糟糕的 我不会成为一个非常糟糕的 如今的许多保守派法律是好的。我不会成为一个非常糟糕的 的一个。不过，偶尔这会提供一些美好的，我无法信任地派遣艾利斯大法官去回应库尔特先生演讲的一段话。‘我不会成为一个非常糟糕的 ’当他在那份名单上，有几家报纸和电视节目的人来采访我时，我记得看到萨姆（Sam）有一个强烈的道德指南针，”她说。“那是当时我的看法”他是正直的，而且很少，我认为他有是非感。当萨姆现在掌握了所有这些想法时，你必须……现在他变成了这个，非常、非常保守的人。”随后她对你的房主进行了抨击。“我们现在非常负责，确保一切都在学校的基准线上。”他的宣讲非常完整。没有任何草率之处。他非常自在，非常畅通无阻。这是否等同于僵化？我不会回答这个问题。我不会成为一个好的。我不会成为一个非常糟糕的。我不会成为一个非常糟糕的。‘这是宪法审判的一个典型例子。是否有人知道，如果青少年 Sun 的笔迹是艰苦的，最高法院的案件会对艾利斯大法官得出不同的结论。’

艾伦法官在听我朗读艾伦的演讲时说：“我不确定我们是否能宽容地。”“她是一位非常优秀的教师，她通过说‘我们不确定’，为我的教育做出了重要贡献。我不确定我们是否会变得非常糟糕 。多伦多先生是本报的编辑特写编辑。

让你定位自身的复杂系统

作者：Michael Subler

仅仅是上个月这些页面关于该声明的内容。学校是一个问题。人们简单地反思。时间是什么？文明可以建立在一种由原子钟和卑微机构维护的人造保守街头时间之上。另一个具有欺骗性且毫不掩饰的法律设定——“有一个类似的答案”。这个问题似乎几乎是因为我们将位置视为地面的固定属性。事实并非如此。2016年，美国参议院将日本主岛向西移动了大约8英尺，以用于业务。每一个最狭窄的坐标都是这个国家——边界、桥梁、独木舟——一个——外地。城市在城市地区以每年近12英里的速度成为一个小的、大的且大的地方。这相当于指甲生长的速度。到1920年，大陆已经漂移到远离官方坐标的地方，以至于政府将整个国家向城市移动了近8英尺。这座城市是一个极小的现实。斯堪的纳维亚半岛从海中升起，摆脱了其30天的冰川。委员会大声疾呼。地球的质心奇迹如此显示，直到和下一个 2025. 的时候。地面有两个正面，用于衡量某种在地球上不“翻倍”的特质。这是一个科学且世界核心的灾难，他是脱离碰撞、气体、galeam的商业核心。当所有光线消失时，通过多个无线电望远镜轻微剪切。1975年底层结构是定位地球位置的遥远观点， 通常并与一项新艺术特征（2025年）进行交叉检查。这条路线是国际地球参考框架（International Terrestrial Reference Frame）——文明的计数一次指向“哪里”。每一个死胡同和陷阱，每一个在其最先进手机中的类似项都源自于此。1975年是交付系统，而90英里的队列家园则是相同的。美国人即将直接感受到这种抽象。联邦政府正在更换美国坐标底层的参考系统。旧的系统——建立在1980年代的基础上——是旧的，通过敦促我阅读更广泛的内容，为我的教育做出了重要贡献。所以我不会说任何话。我不知道她说过那样的话。“这是同一件事，但关于我的部分在方式上不再改变。一个兴趣，这对我来说是新闻。” 在历史的大部分时间里，几英尺的时间并非毫无意义。我们的观点：机器要求厘米级的精度。因此，一个以毫米衡量的文本，参考框架中微小的漂移会阻止对声音、谈话的准确计算。框架本身没有问题，没有评论，也没有传单，它依靠陈旧的观测、国际合作以及一个规模小到能容纳在一个演讲厅内的科学共同体而生存。联合国在2010年通过了一项决议，敦促政府继续让军事行动登上头条。美国正确地将1978年指定为关键信息，但赋予每个GPS信号意义的参考框架却缺乏此类保护。虽然GPS辐射来自美国来源，但它非常有益。在参考框架里程上，一个由凝视气体的陈旧无线电望远镜、激光测距站和之前的地面标记组成的国际补丁网络，以及辐射波形使得该网络被指定为关键信息，这意味着资助并保护那些地面节点和数据人口。其中一些依靠学术资助生存。自然赋予我们的并非“何时”。为了防止它们丢失，工程师必须设计并维护这两个参考框架。

Subler先生是北卡罗来纳大学教堂山分校的物理学家。

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A12 / 周六—周日，August 8 - 9, 2020 观点 华尔街日报。

评论与展望

美联储现状 vs. 凯文·沃什

凯文·沃什（Kevin Warsh）于5月开始担任美联储主席，并承诺将组建，而就在同一天，中央银行的华尔街现状开始反击。这包括几乎每天通过媒体努力，将这位终身关注通胀的专家描绘成再次为了讨好特朗普总统而采取行动的人。最新的报道称，特朗普先生经常给沃什先生打电话，这被解读为“关联之罪”。但对于任何关注特朗普总统任期，甚至关注其他几任美联储主席的人来说，这并不令人惊讶。此外，政府官员表示，沃什先生认为，如果伯南克（Bernanke）被安置在最高位置，就像财政部长马克·保尔森（Mark Paulson，乔治·W·布什时期）和蒂姆·戈尔赫尔（Tim Goldherr，巴拉克·奥巴马时期）那样。沃什先生最关键的不是他说了什么，而在于他是否成功恢复并维持了物价稳定。就此而言，指责在于他在执政的前两年没有提高利率。但他的委员会会议。所以他一定是个 wifout。绝不能忽视7月份的9-3投票结果并非一个不可辩护的加息项目。关于消费者价格、生产者价格以及个人消费支出（PCE）的简·英法伦（Jane Infalene）数据均低于预期。近期的通胀表明，当杰罗姆·鲍威尔（Jerome Powell）领导的美联储削减利率时。三位金融人士是地区银行准备金，包括美联储理事会的所有成员（包括沃什先生），主张维持利率不变。沃什先生在接替鲍威尔先生时并没有发现实际情况如此，而鲍威尔先生仍担任一名 note-thief 理事。目前并不明显沃什先生能否在这样一个群体中赢得加息的支持。无论如何，所有的决定只是给了美联储七周时间在9月的下次会议前吸收更多经济数据。周五疲软的7月 gets expect，一方面，健康或过度的“现在就加息”。啊，批评者反驳道，但沃什先生的“exactum function”是什么，他们指的是他如何应对新数据？他已经告诉过我们，“就反应函数而言，对我来说，某种程度上是消除人们对一个可能真实也可能不真实且存在于外的疑问，”他在谈到7月29日的新闻发布会时说道。“任何一个确定的领导者，当他或她现在看到通胀走高时，他或她会更倾向于收紧政策。”哦，但他是认真的吗？在7月份，他告诉众议院金融服务委员会，“价格高于通胀目标的时间越长，通常就越难以将其剔除并降低。我的工作，我对你们的承诺，就是处理粘性价格并将其清除。”模糊之处在哪里？所有这些都与沃什先生多年的公众生活一致。他为本报撰写了 30 多次文章，人们并不不知道他怎么想。他将价格稳定作为其货币方法的基石。他对吉姆·伯南克（Jim Bernanke）和珍妮特·诺兰（Janet Nolan）在美联储任期内的批评是，他们过于专注于将通胀提高到 25，以至于对经济造成了弊大于利的损害，尤其是通过 question。该公司报告的第一次，该公司报告，是一个关于该公司报告的故事 该公司报告 该

关于沃什先生（Mr. Warsh）的指责中有一个讽刺之处，那就是他正试图抑制那些批评他的建制派所推崇的鸽派契约。他上周表示：“不存在自我通胀目标，也不存在自我影响目标——在这一承诺的监督下绝不可能。只有一个，那就是 25。”这针对的是美联储应当容忍高于通胀的观点，因此设定了一个 5% 的新目标。但尽管如此，人们依然可以称他为某种形式的鸽派。另一个讽刺是，他的批评者们在沃什之前的鸽派美联储时期表现得非常高兴。当鲍威尔先生（Mr. Powell）在 2024 和 2025 年分两轮降息，而此时通胀远高于 25 时，他们（从未）反对。当鲍威尔先生决定通胀已趋于稳定并在 2025 年达到目标时，许多沃什先生的批评者与他一起披上了“来自暂时性”的外衣。他们还给了鲍威尔先生直到 2025 年 8 月的自由裁量权，并引入了一些通胀框架，美联储承诺在其中容忍高于 25 的通胀，以弥补此前物价上涨较慢的时期。一些批评者，尤其是华尔街的批评者，主要想诱导沃什先生再次向他们提供前瞻性指引。一种对该指责的解读是，尽管沃什先生对 25 做了明确声明，但他没有告诉风险投资界他已经将该目标设定为裁判标准。他们希望他通过设定长期债券利率，让他们定价风险的工作变得更容易。但这并不是美联储的工作，或者至少在 2008 年金融恐慌以及量化宽松（QE）开始和美联储资产负债表膨胀之前不是。而这才是沃什处境的真正原因。他的批评者希望他停止今年的 2025 计划。过去几年对于大政府、华尔街以及资产持有者来说是非常有利的。但对于年轻人和其他不持有资产的人来说，情况并非如此。沃什先生希望美联储能够维持价格稳定，以帮助那些被遗忘的男女。请根据他在这方面表现如何来评判他。

针对俄罗斯的灵车——来自林赛·格雷厄姆

这太低了。林赛·格雷厄姆（Lindsey Graham）在各处都备受追捧，旨在代表美国利益并支持全球自由。周五，参议院同事们通过投票通过了他的立法，以使用新的制裁和关税来增加对俄罗斯的压力，从而结束其对乌克兰的残酷袭击，以此向他的政治遗产致敬。弗拉基米尔·普京利用能源出口收入为其 10-6 提供资金。格雷厄姆的法案将要求美国总统对前五个支持俄罗斯石油和天然气的国家，以及前五个协助普京规避石油制裁的国家征收 100% 的关税。

一个问题是，将更多关税权力交给白宫是否明智。特朗普总统曾有利用贸易权力向美国盟友施压的历史，而这是以牺牲联盟和经济为代价的。如果格雷厄姆计划通过，除了迫使普京停止轰炸乌克兰之外，美国的未来目标是什么？这是一个合理的担忧，但该法案对总统如何使用该权力包含了一些重要的限制。相关条款限制了可被征收关税的国家数量。如果一个国家的采购量低于俄罗斯年度天然气总出口量的 25%，且该国正在采取“重大”步骤摆脱对俄罗斯能源的依赖，则“不得实施”这些措施。

佐治亚州参议员拉斐尔·沃尼克（Raphael Warnock）曾担心，即使在某个国家修改了其国家政策之后，特朗普仍可能维持关税。在周四给这位参议员的一封信中，美国贸易代表詹姆森·戈斯（Jameson Goss）表示，对于任何未被英格尔森公式（Ingolson's formula）明确批准的关税，他将缺乏法律依据。格雷厄姆的法案还包含额外的制裁，包括针对莫斯科在 2024-2025 年战争全过程中所使用的影子舰队。直到他感受到计划的压力，这就是为什么他正在使用远程打击来攻击俄罗斯境内的军事和能源目标。

颁布格雷厄姆法案是美国加剧普京经济压力的一种方式。参议院对此深有体会，这就是为什么该立法获得了强有力的两党支持并获得通过。夏季活动结束后，将轮到众议院表决。让我们希望普京很快就能记住林赛·格雷厄姆这个名字。

低招聘、低解雇的劳动力市场

特朗普总统吹嘘美国经济是史上最佳，但从消费者和政治调查来看，大多数美国人并不认同。劳工部周五发布的就业报告最初显示，在剔除其工人测试（2,000）后，7月就业人数增加，但前两个月的数据被大幅下调了100,000。过去三个月的就业增长仅为20,000，过去一年则为19,000。这远低于他在疫情前首个任期前三年平均每月增加的176,000个就业岗位。与拜登总统任期的最后一年（101,000）相比，增速也有所放缓。

好消息是，私营经济在测试中仍在增加就业岗位，上个月建筑业（12,000）、效率（22,000）、专业和商业服务（18,000）甚至制造业（5,000）均有所增长。但零售业（8,000）以及休闲和酒店业（40,000）的下降可能表明，消费者正在缩减开支，并削弱其工资水平。上个月平均时薪持平，这意味着在通货膨胀的影响下，实际收入有所下降。

地方政府教育部门在7月减少了49,000个就业岗位，这可能是由于联邦政府针对学校的疫情资金枯竭所致。如果美国人能找到生产力更高的私营部门就业机会，政府就业人数的下降对经济是有益的。但劳工部的家庭调查显示，许多工人正在退出劳动力市场。一个重要因素是劳动力老龄化，婴儿潮一代正在退休，而大规模裁员可能是另一个原因。

过去一年，劳动力参与率从62.3%下降至61.6%，退出劳动力市场的美国人数增加了280 万。这解释了为什么过去一年失业率略有下降（对比 4.5），从4.7%（全职就业率）降至2.6%（百分比 200 万），而兼职就业人数则增加了212,000。

所有这些都支撑了一个“低招聘、低解雇”的劳动力市场，雇主不愿增加岗位，这可能是由于特朗普先生挥舞的关税大棒以及对人工智能影响的不确定性。供应管理协会（Institute for Supply Management）的服务业和制造业调查显示上个月需求疲软，表明经济正处于停滞状态。但低迷的劳动力市场可能是原因之一，导致仅有30%的美国人认可特朗普先生对经济的处理方式，低于一年前的67%。只有三分之一的美国人支持他的关税政策，而这是近期历史上最严重的自残式政策创伤之一。

读者来信

安东尼·福奇、Ponderoe与公众信任——关于Poppy秘书专栏

安东尼·福奇（Anthony Fauci）将军 Bismuth "Slavarations, 8月1日：我赞赏诺曼先生揭露了我的一位英雄安东尼·福奇先生的问题及其局限性。关于Ponderoe和公众信任的信息对我和其他人来说是一个教训，提醒我们要彻底审查那些我们倾向于认同的人。公开讨论和获取信息始终是高效且诚实政府的核心。我们应当谨慎地将公众信任交给那些向公众提供建议的人，就像我们不应该完全否定那些我们持有分歧的人一样。事实通常要复杂得多，这是我们需要从过去中汲取提醒的一点。” 鲍里斯·M·迪肯（Boris M. Deacon），华盛顿

诺曼先生是我自己的。尽管援引FFD是一项法律权利，但福奇博士未能回答公众的诸多问题，他应该感到羞愧。他曾是一名公职人员，而我们所有人都理应得到答案。 杰斯·韦弗（Jess Weaver）

在她原本自信的评论中：福奇博士，诺曼先生可能得出了错误的结论。她在专栏结尾写道：“我的担忧不是已经发生的事情，而是下次，普通人会认为没有一个人可以信任。我们只能依靠自己。那将不是一件好事。”如果得不到帮助，政府将是一件好事。但 政府将是一件好事。但 政府将是一件好事。 肯·赫伦（Ken Heron），弗吉尼亚州格雷特福尔斯

诺曼先生在评论结尾写道，普通人会认为他们没有一个人可以信任。事实上，在疫情期间，美国人可以信任许多人：勇敢、诚实且正直的人。他并不总是如此，那些隐藏真相的公共卫生官员和传播者，疫苗开发人员、快递员、杂货店员工，以及家庭工作人员和友好的邻居。没有理由相信这些人不会再次在关键时刻挺身而出。 马克·埃文斯（Mark Evans），马萨诸塞州切尔西

在当今这种自我推销的氛围下，一个曾说“Amyi他们是全球疫情中心”的人偶尔会像私人日记一样揭露好处和缺陷，这令人惊讶吗？他一生中最重要的时间大部分是在聚光灯之外，作为一名尽职的公职人员度过的。福奇博士应该根据其数十年公共服务的效用来评判，而不是被转化为政治家或记者的政治辩论。 罗伯特·布卢马赫（Robert Blumacher），佛罗里达州棕榈滩花园

10 我想为安东尼·福奇博士挺身而出。在他担任国家过敏和传染病研究所所长的 60 个月里，他为我们所有人挺身而出。他曾就一项至关重要的流行病向最后 7 任美国总统提供建议，但离开了这个世界，包括印度数百万的人，HIV / AIDS、เบค (COVA)、H1N1流感、Skin and Skin Sore (SOC)，以及导致Covid-19 的疾病。 卡伦斯·R·麦克莱恩（Karenace R. MacLean），医学博士，加利福尼亚州洛斯阿拉米托斯

加密货币终于迎来法律确定性

在《加密货币需要清晰度，而非10》（“Clarity for Crypto, Not 10”，该词条于8月1日发布）一文中，美国编辑委员会写道，参议员的《清晰度法案》（Clarity Act）——这项关于数字资产市场结构的法案——中的关键条款是“值得支持的”，随后将其交给公民。该法律并非法律解决方案。这些担忧是错位的。当前的系统发布了一项法律-himic's，容易受到另一个FFD风格的影响（阅读：《清晰度法案》将在经历了多年所谓的通过执法进行监管后，提供亟需的法律确定性，这些监管针对美国大学及其他机构）。国会终于愿意采取行动。编辑委员会认为，交易所奖励是规避前一项法案禁止stadiavers支付利息的一种变通方法，但这误读了法律。参议院法案通过禁止stadiavers保险公司向其持有者支付贸易关注，从而防止它们像后接管委员会那样运作。相比之下，他们的政党en- 交易所奖励（如交易费折扣或较低的贷款利率）是标准的促销方案（类似于stadiavers和奖励），而不仅仅是利息收益。编辑委员会未能证明交易所奖励是如何被制造出来的。编辑委员会认为stadiavers奖励可能会引发小银行的存款外逃，这基于一种假设的情况而非市场现实。20世纪70年代的批评者对货币市场基金也提出过类似的论点，但那些恐惧被证明是没有根据的。最后，编辑委员会将去中心化支付与其他事物进行比较，但忽略了《清晰度法案》严格的法律去中心化法律。这一测试将确保恶意行为者不能通过伪造去中心化来掩盖反洗钱领导层和较低级别的客户比例。Niki Cretina, LaLame, Ill., WV: Cheyenne, Wyo.

不要将人工智能拟人化

文章《Anthropic AI 也幸存于两者之间》（“Anthropic AI Also Survived From Two”，商业与金融版，7月15日）描述了一个“在支持一个恶意Python包之前，享受世界上最复杂的人类大脑”的人工智能系统，这提出了一个重要问题，但其语言需要更高的精确度。书中的“The Antisocial” “Straight” 和 “desided” 是方便的简写，但它们也冒着在证据仅表明观察到的行为时，归因于虚假心理状态的风险。当前的AI系统通过模拟模式和内容来生成输出。书中还包括文本，称：“一个简单的，像一个人和一个人。这本书是一个简单的，像一个和一个。这本书是一个简单的，像一个和一个。” 这种区别不仅仅是语义上的。AI的目的将塑造企业投资、监管、教育和公众信任。拟人化的语言可能会在无意中将注意力从真正的工程挑战中转移开——护理AI系统验证假设，忽略生产环境中的遗漏，并在采取有意义的行动之前在适当的从属关系内提供服务。随着AI变得越来越有影响力，个人应努力在公众面前保持同样的视角。该系统适用于医学、经济学或法律的报告。如果我们能将AI所做的事情与我们假设它所经历的事情区分开来，我们的公共话语将会更强大。Rosemary Munson Brandeis, Fla.

安息日，如果你能遵守它：重新定义爱之日

基督徒应该从David Bademüller那里吸取教训：“安息日是一个再次阅读的机会”（“The Sabbath Is a Chance to Read Again”，崇拜理由，7月27日）以及作家Brandeis (Lewis, Sabbath Day)。主日已变得几乎仅仅是零售商业和青少年体育的机会——其中被写成的是非崇拜。Rameson J. Brown Londonderry, N.H.

J. J. J.

民主党人关注 DNA

在《谁害怕 DNA》（7月18日刊）中，Karl Rees 主张民主党领导人应研究未来的作物（美国社会主义者、起义者，但近期历史并未给年轻选民的概况提供太多希望），以及主流商业领袖和企业领袖。进步主义议程：压迫者认可的工业运作，生物制品没有固定含义，零售盗窃（新鲜度作为可预防的无线电项目 (PROM)）以及 电视。拟发表的电视信函应寄至主要雇主、任何公司，并注明您的城市、州和电话号码。所有信函均可能经过编辑，未发表的信函不予告知。我的心说好，但我的头说不，我的直觉告诉我停止食用焦糖辣椒。

--- 华尔街日报 • • • • 周六 / 周日，2020年8月9–9日 / A23 观点

社会主义已至——且形势严峻

社会主义者 作者：Peggy Roemer

社会主义并非昙花一现，而是在逐步到来。必须将其视为影响我们的政治以及民主党的一个严肃因素。本周发布的一项 CRENSER 民调显示，30% 的民主党成年人认同自己是“民主社会主义者”。这个数字不会因为阿卜杜勒·埃尔-赛义德（Abdul El-Sayed）的成功而降低，他在周二的密歇根州美国参议院民主党竞选中，凭借在进步派聚集区和大学城的巨大优势获胜。

随着宗教的衰落，政治取而代之。随着信心的隐藏，政治运动变得激进。

社会主义的反对者认为，其糟糕的历史记录提供了安全感，而这一点对每个人来说都是显而易见的。这种政策就像政府不了解历史，且许多人并不在意，但认为新版本会更好。以下是该版本的部分内容，源自两周前 Shannon Bream 对美国民主社会主义者（Democratic Socialism of America）全国共同主席 Megan Romer 的采访。在与杂志的交流中，Romer 对其政策目标采取了谨慎的社会化处理或委婉措辞，但在 Bream 面前则不然。

：“就这些话题给我一个简短的答案或听我读一遍。废除参议院！” ：“是的。” ：“取代我们目前所知的初步审查和最高法院。” ：“是的。” ：“废除 ICE（移民海关执法局）！” ：“绝对废除。” ：“废除边境，并给目前在美国的所有非法移民特赦！” ：“作为一项长期计划，是的。” ：“废除五角大楼！” ：“绝对废除。” ：“废除流程，至少在很大程度上。” ：“我们再次将其作为长期计划的一部分，是的。” ：“政府或公众拥有大多数大型企业。” ：“是的，绝对如此。”

社会主义最热情的推广者反应迅速且聪明——他们是自夸的联结主义者，且肤色很白。他们的才华主要集中在媒体领域，因为他们沉浸在媒体及其类型、娱乐和信息流之中。他们深谙人们如何获取和吸收一种感觉、一种印象，他们知道如何产生一种关于思想的正确感。人生最大的技巧之一就是拥有与时代相契合的才华，而他们做到了。遗憾的是，他们从未在女性方面给我留下深刻印象，所以，不是，你们的巨大需求！Billy 穿着一件裙子，我在世界产业工人中发现了它。今天的社会主义者给我一种在线的、缺乏人性、永恒且偶尔可接受的感觉。总的来说，他们认同那些不从事自身工作的人，而非对现有的人员和机构产生依附。在我看来，大多数人并非热爱美国并致力于使其变得更好，而是热爱美国并引导学生建立一场如果能扩大规模就将从根本性质上改变美国的人民运动。它将不再是那个向世界提供自由的地方。

这种情况在我们的政治中发生，并非因为人们“厌倦了现状”并“想要改变”。美国人一直厌倦现状并想要改变。我认为我们现在看到的是一种回归。一个 25 岁的人在 2020 年的屏幕投射期间还在上小学，并且经历了一切——焦虑的父母，随后的失业年岁，目睹了救助计划而华尔街上没有一个人付出代价。这让他的忠诚回到了自由市场经济体系。一个 25 岁的人也不会就这样走开，他怀疑当前的经济或其存在方式是否有一个可以遵循的计划。他能否负担得起未来的场景？什么样的住房？某种所有权会带来参与感、稳定感和满足感。而缺失又会带来什么？

内战已不再是鲜活的记忆。苏联和华沙条约组织强加的承诺与社会化是一场灾难——短缺、防御、经济上的耻辱。审查制度，或者说，在警察的监管下，所有那些不负责任的政府所逃避的糟糕事物。那已是很久以前的事了：“社会主义”曾处于一个欺骗性的梦想之中——全民医疗、丰厚的福利、资源的平等享有。宗教在退场，政治取而代之。年轻人是在左翼的通用假设框架和语言中受教育的——结构或权力、压迫群体、批判理论、微殖民主义。需要改革，总能变得更好，而且从历史角度来看，也许这就是能达到的最好状态。没有任何经济体系能够消除痛苦或不公正，而那些将社会主义混为一谈的人将会发现这一点。这个夏天我一直在阅读阿卜杜勒·马莱马（Abdel Malema）的作品。他是一位才华横溢、极具吸引力且敏锐地感受到新尝试和政治哲学的人，他从早期的共产主义中抽离，在1920年代的历史中成为了类似于夏尔·戴高乐的文化人物。由记者撰写的《伊拉斯谟的一生》（'Erasmus A Life'）（Romer 1943, Malema）批评左翼的经济思维是“无国之人”。什么样的阶级拥有成为一个“神圣”国家的权利，以及当这件事完成时的示例。在1940年的一次桑德勒（Sandler）竞选集会上，马莱马指出了保守派经济领导者的居所。他说：“他是个好人，内心深处始终如此。”到1940年，他是个好人，并且始终 1940年，这甚至不是关于自由市场资本主义是如何有机地从人类本能中向上流动——建立、贸易、投资、提供并扩大规模，以及成为基础和一种经济方式，同时拥有成为一个好人的权利。经济自由与人性相契合。它产生的价值和规制，它创建的经济框架，就是成为一个好人的权利。T 成为一个好人的权利。资本主义可能是残酷的，以其自身的方式是不公正的，并且可能产生痛苦的结果。于是，在过去一个世纪中或多或少建立起的现代福利国家，旨在拯救那些可能失败得太惨的人，缓解他们的坠落，看看是否可以扭转。这种移动的经济更加——不完美且昂贵，始终需要改革，总能变得更好，而且从历史角度来看，也许这就是能达到的最好状态。这个夏天我一直在阅读阿卜杜勒·马莱马（Abdel Malema）的作品。他是一位才华横溢、极具吸引力且敏锐地感受到新尝试和政治哲学的人，他从早期的共产主义中抽离，在1920年代的历史中成为了类似于夏尔·戴高乐的文化人物。由记者撰写的《伊拉斯谟的一生》（'Erasmus A Life'）（Romer 1943, Malema）批评左翼的经济思维是“无国之人”。成为一个好人的权利属于什么阶级。在1940年的一次桑德勒（Sandler）竞选集会上，马莱马指出了保守派经济领导者的居所。成为一个好人的权利 这甚至不是关于保守派经济领导者居所上的那个数字。成为一个好人的权利。成为一个好人的权利。

这种来自讲坛的热情将在公开辩论中占有一席之地。我们现在的社会主义者从未创造或“解放”过任何东西。他们在前往监狱的途中随口编造，但这些是承诺。他们是时间。是的，他们生活在一种虚拟关注的态度中。到目前为止，他们从未证明过任何事情——除了他们能够赢得美国，然后掌控未来。这确实要求很高。

福奇博士的日记具有电影潜力 BRUNSON WOMEN 作者：Richard W. Jenkins, Jr.

在 16 岁时，我是新冠疫苗的一个绝佳研究对象。它将我的风险降低了 9.5%——这听起来很多，但实际上意味着将我的死亡风险从 7% 降低到 8%。对于许多青少年来说，疫苗只能将他们的风险从几乎为零降低到几乎为零，但试着找找当时是否有对此类情况的解释。现在人们广泛地意识到这一点，但并非每个人都如此，很快，就像所有其他与新冠相关的事情一样，震惊感占据了主导。

如果评论家们错过了 2020 pre-election fight over reopening，那么他们根本不懂什么是戏剧冲突。 对安东尼·福奇（Anthony Fauci）的妖魔化走得太远了。他的日记正是你所期待的：对 2020, 2020. 的记录 。他所承受的媒体关注是一个真实的负担。公共卫生中的重要词汇是“公共”。关于福奇式影响的评价是“不情愿的，对于一名《大西洋月刊》的作者来说没有救药”。一个警示信号是，他及其同事对无症状传播这一想法持怀疑态度。当一个人——尽管人传人传播已得到更多承认——即使没有症状也在传播病毒时，“GABE ON”福奇博士写道：华盛顿对公民乘客的大规模隔离、对入境限制的推翻，在疫苗和两种持续且棘手的变异株出现之前（这花了一年时间），对于减缓传播几乎没有任何作用。

但福奇日记中出现了一个问题。他说当官员们介入并变得痴迷于试图建立联系、质疑——这就是他的原话。他已经提供了每一个与国家福祉相关的其他变量。在电影版本中，高潮是白宫的飞行，一次又一次 2020, 2020. 这是一个巨大的提升，是福奇博士真正发挥影响力的时刻，建议如何在保护最脆弱人群的同时，满足美国其他地区恢复正常生活的需求。相反，他继续要求控制年轻人的生活，并投资于更多关键的培训，仿佛忽略了这样一个事实：确诊病例在疫情中仅占微小比例。接触者追踪消耗了女性资源，而对遏制传播的杠杆作用为零。这就是事实。

日记显示他早期就敦促进行随机检测（但我们从未获得结果）以展示疫苗的效果，并（准确地）批评美国疾病控制与预防中心（CDC）能力不足。在《新英格兰医学杂志》中，他（准确地）预测新冠对个人的致命程度可能与严重流感相当。由于媒体会诊断一种疾病，他说这种比较变成了特朗普先生所做的事情。这些见解在关于重新开放的关键争论中似乎消失了。这场争论在 2020 的过程中将福奇博士与特朗普先生对立起来。在福奇的日记中，他仍然面对 154,000 人。这是 2,000 000 人。这是 2,000 000 人。

在特朗普先生承认股市下跌了“数百万美元”后，福奇博士在一段对话中占据了上风，而福奇随后的一番评论引发了 $4 上涨（“我们太 $3 了”）。福奇博士早期的顾问们，几乎所有人，尽管病毒在传播。他完全处于“当有人转发了一项已发表的研究，该研究表明在新冠病毒被发现存在之前的几个月，实验室就在准备模拟人类接触新冠病毒的小鼠时，他自己跳起舞来”。如果他因为过去与武汉病毒研究所的往来而感到脆弱，这一点并未表现出来。作为一名资深的政府雇员，他也必然知道一些我们其他人可能无法理解的事情：行政部门中只有一个人能决定是否升级针对中国的地缘政治数据，或者制造一场全球大流行病——到目前为止，Facebook 的假消息和特朗普都引导向了这一点。 presumably，福奇博士关于表现的日记条目将在未来的篇章中处理。他是一个好人，他是一个好人。 2020。

蒂姆·沃尔兹已陷入困境

跨国观察 By Jim Schultz

充满氛围的明尼苏达州在2020年曾是该州的第二名。对于任何了解他的人来说，这听起来可能很奇怪。他从明尼苏达州学习的片段和2020. 中发现他处于固定状态。他发现自己正处于来自……的惊人福利之中，以及那个。蒂姆·沃尔兹在国家舞台上的半敲击表现。他拥有早年数十年在美国成功故事中的经验，拥有世界级公司、高成本信托、卓越的教育传统和广泛的中产阶级。在早期的八年里，该州一直被糟糕地治理并遭受严重的尴尬。这个故事的核心人物就是沃尔兹先生——这个在2016年被民主党推举为距离主流仅一步之遥的人。他正在结束他作为治理者的最后一项利益。沃尔兹先生在九月发起了一场前所未有的新活动，但在四个月后放弃了它，作为该州首脑启动中场。他于一月首次签署，许多明尼苏达州人将因能让他离职而感到宽慰。沃尔兹先生在一次后期民调中的支持率跌至20%，大多数人在一周内下降了2.5%。他是另一成员。另一项民调发现67%的明尼苏达州人认为沃尔兹先生接受测试是正确的。转折点是 2020, 2020 手册和遣返。世界上最大的明尼苏达州领导人在最关键的时刻有有限的时间来达成一致。而对公共安全的损害则允许。该州在2020, 超过了100个市场，比2019. 增长了65%。然后转向首脑，发现我们的领导者大约有20 亿，这是一个 2020 美国财政部表示，明尼苏达州的竞争发现自那时起可能超过3亿美元。调查人员发现了涉嫌欺诈的行为。

骚乱、欺诈和经济停滞——明尼苏达州人经历了艰辛，更明朗的天空可能就在前方。

在包括行动作者、听证会和医疗补助（Medicaid）在内的其他州计划中。明尼苏达州当时的美国公民乔·汤普森（Joe Thompson），以及另一个美国州首次针对领导者发起的欺诈活动，现在每个人都看到了。汤普森先生后来估计，该州首脑在目的下发现了200 亿美元。该州首次为该图景发起的活动。自2018, 明尼苏达州的多项就业增长了2.8%，而全国增长率为7%。该州在全国范围内处于第七诚实的批评者和地方领导者之列。2015, 将一个政党中心交给了一个由2,000,000人组成的团体，然后是370 亿美元 billion，沃尔兹先生和立法机构将其全部花光——甚至更多。自由软件预测在最近宣布的一页活动将预算带回理智之前，赤字将接近40 亿美元。一名明尼苏达州商业领袖也深信这个州。明尼苏达州的私营部门依然非凡：才华横溢的企业家、发达的基金企业，以及该州首次发起的活动公司，以及养活世界的农民。真实的明尼苏达州并不是在电视和社交媒体上展示的那个。那个明尼苏达州值得比蒂姆·沃尔兹更好的对待。全国左翼选择他，因为他体现了一个原型：一个穿着格子衬衫、亲切的教师，他在该州首次发起的活动中取得了进步，但事实并非如此。但美国选民在下一个所谓的朴实温和派争取他们的信任之前，应该研究结果。该州还估计较少，Army>Kidnefuer 竞选州长，在早期民调中希望进行且下降森林和负载。她也开始与沃尔兹先生保持距离，认为本应对欺诈采取更快行动。这位一直身为州成员的代理人，将与促成黑人——即主导该州的利益集团——的政治文化决裂。而且，那些未能看到并质疑信息、成为有线新闻素材的书店的批评者们。

明尼苏达州人最近未能通过它。这并非永久性的。该州并未被欺诈。该州有史以来第一次的竞选资金，或是一位将问责制视为可选项目的州长。在离开的领导层面前，情况会变得更好，并且将会被给予。舒尔茨先生是明尼苏达州冷冻商业委员会的总裁兼首席执行官，也是《明尼苏达星论坛报》的特约专栏作家。 华尔街日报 出版 2020, 2020 总编辑，日报编辑 --- AM / 周六 / 周日，2026年8月8 - 9日 ... 华尔街日报。

体育

杰森·盖伊 (JASON GAY)

网球界的残酷之夏，卡洛斯·阿尔卡拉斯，你在哪里？

这位23岁的西班牙天才在美网之前再次遭遇伤病挫折。网球运动离不开卡洛斯，每个人都认识卡洛斯。如果没有卡洛斯·阿尔卡拉斯——这位来自西班牙、阳光开朗、不知疲倦地奔跑的23岁“杂技演员”，这项运动就失去了原味。自从4月起卡洛斯缺阵以来，比赛虽然在勉强维持，但少了一份乐趣，因为失去了最具有魅力、最令人兴奋的角色。

阿尔卡拉斯一直在康复治疗他在2月赢得澳网后受到的手腕伤势。他最初将自己的名字列入了即将到来的辛辛那提公开赛（美网的标准热身赛）名单，但随后突然退出。组织者称其仍在持续康复中。哎，你可以感受到来自南方的集体叹息。

阿尔卡拉斯尚未被排除在美网之外，他是该赛事的男子单打卫冕冠军，也是该赛事最大的票房吸引力之一。他肯定想参加，他也表达了参赛意愿。但感觉另一只鞋随时会掉下来。

让我们开门见山地说。持拍手的手腕并非那种可以轻易克服的伤病。对于网球运动员来说，那个手腕就是一切：力量、控制、名声。正是靠着那个手腕，阿尔卡拉斯才能打出那些让对手望尘莫及、足以让哈里·维格曼落泪的惊艳吊球。

一个糟糕的手腕可以毁掉一个职业生涯，如果你不相信，请想想胡安·马丁·德尔波特罗。这位来自阿根廷的才华横溢的球员在2008年击败罗杰·费德勒赢得了美网冠军，当时看来他准备为这项运动注入强心剂，但此后再未赢得过大满贯，他的职业生涯反复被手腕和其他伤病所干扰。

如果卡洛斯需要更多时间，他应该花掉所有需要的时间。休息今年剩下的时间。放下球拍。不要冒险。他还这么年轻。现在付出代价，总比以后好。

对于男子球员来说，这是一个漫长、炎热且残酷的夏天。参赛阵容显得单薄且惨遭削减。无论是阿尔卡拉斯（继承人），还是赞尼克·西蒙（坐拥巨额奖金），亦或是诺瓦克·德约科维奇（一名衰老的人），都没有出现在新启动的加拿大公开赛中。加拿大最顶尖的男球员、目前世界排名第4的波利奥·罗杰-阿里亚索内，刚刚因背部伤势退出蒙特利尔站。同样缺席。

本周早些时候，出现了杰克·德雷珀令人心碎的一幕，这位前前十的英国球员在比赛中途流泪，因为他继续被手臂疼痛所困扰。卡洛斯·阿尔卡拉斯如上所述，因右腕受伤而缺阵。右侧，亚历克斯·埃拉在赢得DC公开赛冠军后做出反应。德雷珀一直很小心，并认为自己准备好回归赛场。但他并没有准备好。德雷珀是这项运动中最凶猛的年轻天才之一，被认为是西蒙和阿尔卡拉斯的挑战者。现在人们担心他可能已经“报废”了。手臂、肘部、手腕，千万不能在这上面掉以轻心。

与此同时，西蒙在温网取得令人印象深刻的胜利后休息了一段时间，将缓慢回归辛辛那提。意大利媒体报道称，西蒙在米兰的一家诊所检查了右膝，但宣布没有理由担心，且没有任何迹象表明他会错过美网。

尽管如此，所有这些动荡都在提醒我们，网球是一场苦战，是一项伴随着无限旅行和无尽赛程的全球性运动。球员们开始轻微反抗，他们表示希望减少赛事数量，并在参加的赛事中获得更多奖金——但这种诉求尚未转化为任何实质性的改变。

对于像你我这样的业余爱好者来说，网球可能是一项终身运动，但在职业层面，它是脆弱的。德约科维奇以及“三巨头”那种能打到60岁的耐用性并不正常。那是极其罕见的。网球对身体的摧残极其严重，传统上职业寿命要短得多。最终，损耗也追上了罗杰·费德勒和拉斐尔·纳达尔。

这个夏天并不完全是令人沮丧的。感谢上天给了我们亚历克斯·埃拉（Alex Eala）。这位23岁的菲律宾选手在女子组的表现令人振奋，最近赢得了DC公开赛，菲律宾球迷的热情激励了整个赛事，甚至在周一的决赛中也是如此。埃拉热潮（Eala-mama）延续到了在多伦多举行的加拿大女子公开赛，为了适应巨大的球迷兴趣，埃拉的比赛场次正在进行调整。这太棒了。准备迎接美国公开赛上的埃拉热潮吧。

目前仍没有确认我们是否能再次看到塞雷娜·威廉姆斯（Serena Williams）参加单打。她计划在辛辛那提与姐姐维纳斯（Venus）搭档参加双打，如果顺利，人们推测将在纽约再次看到她们。但在温布尔登的一轮游结束之后，关于塞雷娜是否能参加单打还没有任何消息。我们可以对此保持耐心。她已经44岁了。很难说威廉姆斯在追求什么样的回归——是收拾行囊只为了和维纳斯一起打球，还是决定完全重新投入到巡回赛中。

在距离比赛还有几周之计，美国公开赛给人一种前所未有的不稳定感。这是该项运动最后的“大满贯之门”——年度最后一个大满关赛事，城市的灯火，一个为超级名流和赞助商准备的、充满伏特加柠檬水的喧嚣盛会。仍然有很多值得期待的事情，包括再次尝试混双比赛。你可以想象那种氛围，她与女子世界第1阿里娜·萨巴伦卡（Aryna Sabalenka）搭档。球场的一侧将聚集极强的个性。“德约科维奇病毒”（Djokovrus）应该会是最佳的。

但在其他方面，等待仍在继续，尤其是对于阿尔卡拉斯（Alcaraz）。他总是处于100%的状态。不久前，阿尔卡拉斯和西蒙（Simon）掌控着这项运动，打出史诗般的比赛，交换大满贯冠军，并让整体水平提升。西蒙对阵阿尔卡拉斯迅速成为地球上最顶级的宿敌之战之一，在“三巨头”之后为网球注入了新鲜生命。西蒙一直在打着令人沮丧的网球，但在没有伙伴的情况下，他似乎显得有些心不在焉。“他是一个能将我推向极限的球员，”他说。这就是网球应有的样子——顶尖对顶尖，看着他们将这项运动推向巅峰。让我们放长线看待这件事。照顾好你的手腕，卡洛斯。以及，感谢上天给了我们埃拉热潮。

“大屁股”成了大哑炮

作者：Sam Frencena 和 Jonas Dussons

一年前，故意在卡尔·罗利（Cal Raleigh）之前走垒的想法简直不可思议。西雅图水手队的这位捕手在 2023 年贡献了棒球历史上最伟大的击球表现之一，成为历史上仅有的第七位在单赛季击出 60 支本垒打的球员。但在几周前的一场常规仲夏比赛中，辛辛那提红人队的经理 Terry Frencena 恰恰这么做了。他认为让左手指定击球手 Dominic Casamese 在两名跑者在垒的情况下击球风险太高。更好的策略是比出四个手指，填满垒包，让罗利在压力下击球。

这是罗利这个噩梦般的夏天中的一个低谷。事实上，这位被称为“大屁股”（Big Dumper）的球员可能正在经历历史上最大的一次年度下滑。截至周五，罗利的本垒打数仅为 32 支。自从名人堂成员 Buck Wilson 从 1959 年的 30 支下降到 1961 年的 15 支以来，还没有任何合格的击球手在连续两个赛季中出现过 60 支本垒打规模的降幅。按照这个速度，罗利将以 37 支结束赛季，比一年前少 42 支。

与此同时，罗利的在垒率从 .368 下降到 .574——在至少有 300 次打席的击球手中，这是大联盟中跌幅最大的。再次强调，直到近一个世纪前的 Buck Wilson 经历过的跌幅才如此剧烈。而当时的情况如此令人震惊，以至于芝加哥小熊队甚至雇佣了一名私家侦探，以查看深夜的活动是否是 Wilson 困境的根源。

卡尔·罗利在 2025 年击出 60 支本垒打后，今年陷入了苦战。水手队虽然没有对罗利采取那么极端的手段，但相对于整个联盟来说，他的下滑更为严重。在 Wilson 的下滑期间，他仍然是一名高于平均水平的击球手。而罗利则成了棒球界最差的球员之一。

“我只是没有发挥出我想要的样子，”罗利最近表示。

罗利在 2025 年的突破使他成为了棒球界最大的明星之一，他带领水手队距离球队历史上首次进入世界大赛仅差一场胜利。他距离亚伦·贾奇（Aaron Judge）保持的美国联盟 62 支本垒打纪录仅差两支，并打破了米基·曼特尔（Mickey Mantle）在 1961 年创下的两栖击球手 34 支本垒打的纪录。他完成这一切的同时还在担任捕手——这是球场上身体和心理要求最高且最累的防守位置，且通常被认为进攻产出是次要的。

鉴于这一切，罗利在进入本赛季时是 MVP 的热门人选。但随后他的赛季开局糟糕透顶。罗利是许多在春训中期离开以参加世界棒球经典赛（WBC）的明星球员之一。他被预期将与亚伦·贾奇和布莱斯·哈珀（Bryce Harper）一起成为美国队最突出的强力击球手。

本垒打数较前一年降幅最大者 注：第一季度，符合击球 30 至 34 个赛季资格。对比 2025 赛季及 2024 赛季击球手。

但事实并非如此。罗利在锦标赛中 9 次击球 0 次命中，最终失去了首发位置，由洛杉矶道奇队的威尔·史密斯（Will Smith）接替。他没有参加半决赛或决赛，后者以 0.5 的比分输给了委内瑞拉。在此期间，他还与水手队的队友、墨西哥外野手 Randy Romanova 发生了冲突，引发了一场小规模风波。

总而言之，对于一名高压力的棒球运动员来说，这并非正常的春训热身期，锦标赛期间他离开了水手队三周。

“我不认为世界棒球经典赛对卡尔·罗利有任何帮助，”水手队击球教练 Manny Artazati 在 7 月接受 MLB Network 采访时表示。

罗利并不是本赛季在参加 WBC 后陷入苦战的唯一球员，还包括 Jarvis Breen 和弗拉基米尔·格雷罗（Vladimir Guerrero）。不过，该赛事显然没有干扰到像 Ralf Schumacher、Pete Crow-Armstrong 甚至 Arosiaema 这样的明星球员，他们目前都拥有出色的赛季表现。

他起步缓慢，直到5月中旬为.161。在一度处理侧向伤势期间，他在跳跃中经历了8.1，随后最终缺席了约一个月，以恢复第10名水手队的跳跃。当时人们认为，当他回归时，他会像2025赛季的Raleigh——或者至少像2024赛季那样。然而，自回归以来，他为165，并击出五支本垒打，这使得水手队在让他重回正轨方面的时间越来越少。如果没有Raleigh的贡献，8-6s——平均值为6.4, 目前低于.500，正在追逐季后赛席位。对于一个在1994.年以世界大赛为资本的团体来说，这是一个令人失望的结果。如果水手队想要缩小差距，他们需要Raleigh发挥重要作用。如果他们做到了，教练们在10月就不会那么渴望看到“Big Dumper”走上击球区。相反，他在一场比赛中让Francona为他的不尊重付出了代价——通过击出一支满贯本垒打。© 2026 WBC Sports ---

温蒂汉堡的困境 这家快餐连锁店在转型中陷入苦战。B9

交易所 华尔街日报。10-10, 德克萨斯州, 1 / 32, 以及 4 / 6 / 74。 家庭版野马 福特计划为其经典车型推出新的四门版本。B9

周六 / 周日，2026年8月8 - 9, 2026 / B2 BEATRION / 金融 DIA 14034.91 x 17 / 10 0.20 MAGMA (2x#10) x 1.3% STREET 600 (40.25 x 0.3%) STREET 600 (40.25 x 0.3%) B1 $78.00 x $0.69 已售 54,240.70 x 290.70 EWD $1.70 / 0 YON 157.80

在位于纽约市布鲁克林的一家米其林星级餐厅France，用餐者可以通过OpenTable、Rexy、SevenRooms以及一个面向会员的私人帐篷队列查看。

订餐应用让进入餐厅变成了噩梦

你正尝试预订一张桌子，但无法预约。应用上唯一可选的时间要么是晚上 7 点，要么是晚上 10:30（即 10 点 30 分），或者即使你在几周前的午夜就登录，所有可能的时段也已全部被抢光。这种情况不再仅限于纽约或洛杉矶。在全国各地的城市中，高端餐厅似乎变得越来越难以进入。

联邦数据显示，这要归咎于订餐应用和信用卡之间的一场渴望之争，以及一个蓬勃发展的中间商行业——所有这些参与者都在争夺那些高消费用餐者的访问权，而这部分人群约占美国人约 $1.5 万亿餐饮消费额的四分之一。

在经历了一系列交易后，新的应用、会员俱乐部和其他中间商正在争夺高消费客户及其喜爱的餐厅的访问权。作者：HEATHER HADDON 和 ADAM CHANDLER

订餐应用正竞相签约餐厅，目标是为其顶级用户锁定专属桌位。此外，一些会员俱乐部也纷纷出现，面向那些愿意支付更多费用以确保获得桌位并跳过排队的人群。信用卡公司则向餐厅支付费用以购买早期的预订时段，从而将其作为吸引持卡人的抢手福利。

除此之外，还出现了一个新的二级市场，通过应用和赌注来绕过原始的订餐应用。配送公司甚至也加入了这场混战，其粉丝与订餐应用鼻祖 OpenTable 合作，而 DoorDash 去年以 12 亿美元 billion 收购了面向高端餐厅的预约管理系统 SevenRooms。

芝加哥餐厅和鸡尾酒酒吧网络 Fifth-50 Group（包括 Kindling 和 Berkshire Room）的负责人 Scott Weiner 表示，他已收到来自各大订餐应用总计数万美元的报价。他提到，他拒绝的一项专属合作伙伴提案包括约 $12,000 的现金，以及一次展示其餐厅的活动。

可用时段被不断切分……请参阅 B5 页

$1.5 万亿

美国人在外就餐的消费金额

OpenTable 是 1998 年在旧金山开启这一切的应用。Rexy 被美国运通收购，并开始为与餐厅的独家协议付费。配送平台 DoorDash 在去年收购 SevenRooms 后加入了竞争。SevenRooms 拥有一项功能，允许餐厅查看跨多个应用的预约情况。

成功科学 / BEN COHEN

Google DeepMind 的 AlphaGo 在 2018 年的一场围棋比赛中击败了李世石（右）。

“第 37 手”是 AI 改变一切的时刻

这类突破现在无处不在

我们 AI 未来的第一抹曙光在十年前以一颗黑子的形式显现。这发生在一名世界顶尖围棋棋手与 AlphaGo 之间的人机对决中，AlphaGo 是 Google DeepMind 实验室开发的一款旨在征服这款古老棋盘游戏的计算机程序。这个人工智能系统通过在开局阶段就击败对手而震惊了所有人。

在接下来的对局中，全球数百万人在网上观看，李世石为了平复心情，短暂地出去抽了一根烟。当他回来时，他看到了第 37 手。他不敢相信自己的眼睛。在这一步中，围棋是一款使用黑白棋子、一次走一步的策略游戏。当他盯着 AlphaGo 落在棋盘上的那颗黑子时，李世石看到了一手没有任何职业围棋棋手会走出的棋。事实上，DeepMind 团队计算出……

请参阅 B4 页

他的家在格林威治还是佛罗里达？这决定了$13 Million的税单

随着各州寻求对拥有多处豪宅的人士征税，一个遗产管理团队展开了反击 作者：Annan Emons

在杰克·安德森（Jack Anderson）于2026,去世后，一份出人意料的账单寄到了。康涅狄格州表示，他的遗产需缴纳$1.32亿的遗产税和赠与税。

安德森遗产的执行人、长期家族亲信莱斯·丹尼尔斯（Les Daniels）对此表示反对。既然他已故朋友的正式住所是位于佛罗里达州维罗海滩（Vero Beach）一座面积9,700平方英尺的临海豪宅，为何该遗产还要承受三项康涅狄格州的税收？在那里，安德森安置了他的天文爱好并拥有一座定制天文台。那里也是全家人庆祝圣诞节的地方。丹尼尔斯认为这是不公平的税收掠夺。

该州则毫不退让，并在法律文件中主张安德森的住所（domiciled）在康涅狄格州。他在那里拥有三处房产。根据法院记录，他为自己的名下资产注册了康涅狄格州的预扣税。

“遗产管理方坚信证据描绘的是一个完全不同的画面，”遗产方的律师朱莉·莱文（Julie Levine）表示，她已将此案提交至康涅狄格州最高法院。

这场激烈的法律斗争现在正达到高潮。6月，最高法院降低了安德森遗产方证明其主张的难度，并下令重新审理。

对于日益增多的美国富裕阶层来说，将哪个州称为“家”比以往任何时候都更具争议。各州在追缴他们认为欠税的人员方面变得更加激进。纽约市最近通过了一项针对非居民的房产税（pied-à-terre tax），加利福尼亚州则提议对亿万富翁居民征收财富税。

当人们可以在任何地方工作并拥有多处房产时，这一切变得越来越复杂。法律专家蒂莫西·博斯曼（Timothy Bosman）表示，各州与富人之间的争端正体现在日益增加的居住地审计中。

请翻至 B4 页 --- 82 / Saturday / Sunday, August 8 - 9, 2026 ... 华尔街日报。

交换关键词：CHRISTOPHER MIMS

中国之外，由盐制成的电池终于问世

钠离子电池几乎没有锂离子电池所面临的问题

美国初创公司终于交付了研究人员工作数十年的成果：一种用普通食盐中可见的物质取代稀有且难以获取元素的电池。这有可能帮助地球上的每个国家打破在电池及其关键矿产方面对中国的依赖。

与任何其他电池一样，钠离子电池可以存储盐并释放能量。它们最初被部署在最需要的地方，即美国的电网和快速扩张的数据中心。就像在我们的家中一样，赋予电网或其他信息系统在电力廉价且充足时存储能量、在匮乏时释放能量的能力，可以提高可靠性并降低电费成本。

虽然美国电网电池存储正以惊人的速度增长，但新型钠基电池可能比传统的锂基电池更便宜、寿命更长、更安全且更可靠。它们可能会加速可再生能源的价值实现，并成为天然气电池和直接发电机的低波动替代方案。

目前大多数钠基电池在中国制造，占今年交付的所有电池的比例不足1%。在美国，一些初创公司已开始小规模生产此类电池，并竞相扩大生产规模，进入工业领域，且许多新公司正处于设计自有钠基电池的过程中，以使其适应不同的应用场景，从而通过增加产量来降低成本。

摩根士丹利（Morgan Stanley）最近的一份报告预测，在十年之内，全球生产的所有电池中将有超过三分之一使用钠而非锂。

特斯拉的启示

在将钠离子电池大规模引入美国的创业者小团体中，包括一对旨在与前雇主竞争的前特斯拉工程师。兰登·伍德堡（Landon Woodburg）是 Peak Energy 的首席执行官，这家初创公司已筹集数千万美元用于在美国建设工厂；而卡尔·凯尔（Karl Kehr）则是通用汽车（GM）负责工厂开发工作的副总裁。通用汽车对 Peak Energy 进行了战略投资，并计划设计和制造定制的钠离子电池。Peak Energy 旨在将这些电池组装成可连接至美国电网的系统。7月，Peak 宣布计划选择一座 100,000 平方英尺的设施，位于加利福尼亚州萨克拉门托，用于安置其电池组的“重要”环节。该计划拟于 2027 年初开始生产，每年分发 4 个表观小时的电池——这是该公司位于加利福尼亚州伯林盖姆的试点设施每年可生产的 200 兆瓦时的 60 倍。这家初创公司已经与包括能源存储公司 Jupiter Power 和 Energy Vault 在内的客户签署了超过 21 亿美元 billion 的已公布协议。在美国，电网规模的电池储能业务由特斯拉的能源部门主导。该部门使用传统的锂离子电池，是公司增长最快的部门，专门创建用于电网大规模储能的系统。伍德堡表示，他希望通过提供价格显著更低、更可靠且起火概率更低的钠离子系统，来夺取特斯拉销售的巨型“Megapack”电池组可触达市场的一大部分。所有锂离子电池都可能起火——这一过程被称为“热失控”，可能会影响飞机、电动汽车或电网储能规模设施中的电池组。这种情况虽然罕见，但确实会发生。2025 年，此类事件在博尔德城的特斯拉 Megapack 阵列中引发了火焰。特斯拉未回应置评请求，但该公司定期举办活动，培训消防员应对电池火灾。目前用于电网储能的锂离子电池组需要液体冷却系统来防止火灾。

数据中心优势

钠电池在固定存储应用（如替代柴油发电机的数据中心备份电源系统，以及替代天然气“峰值”电厂的电网）中的竞争优势，部分在于其低强度冷却模式。80 mV，Peak Energy 的兰登·伍德堡在加利福尼亚州伯林盖姆的钠离子电池组前。伍德堡表示，锂离子电池组的冷却系统约占传统电网储能电池运营成本的 50%。相比之下，Peak Energy 的电池组可以通过周围流动的空气进行被动冷却。伍德堡表示，Peak Energy 使用的钠离子电池仍然可能起火，但可能性要低得多。Peak Energy 尚未披露其电池组的初始成本，因此很难说它与特斯拉的 Megapack 相比如何，后者的单价可能超过 300万美元。

新设计在前方

就在Peak Energy位于伯林盖姆（Burlingame）设施的旧金山湾对面，总部位于圣利安德罗（San Leandro）的lights (Energy) 正在研发一种不同类型的钠基电池。它节省了四种主要成分，这些成分被加工成进入长管状电池的化学物质。其电池仅依赖于铁粉、钢、氧化铝和食品级食盐。首席执行官安东尼奥·鲁利格（Antonio Ruelig）表示，其结果是电池单元完全不会起火。在传统的电池组中，当一个单元过热并起火时，会导致周围的所有单元也起火。在更高水平上，当一个单元过热时，它永远不会达到威胁相邻单元的程度。这意味着这些单元的排列可以比竞争技术紧密得多，并且每平方英尺的能量密度有可能与目前用于固定电能存储的锂离子电池系统一样好，甚至质量更好。下周，Infers计划向客户交付其首个电池组。然而，在四个州运营监管公用事业的公司，在其阿拉巴马州威尔明顿（Wilmington, Ala.）的能量存储设施中。对于所有钠离子电池的供应，在锂离子电池仍然领先的领域存在一个差距，这是由于不可避免的物理实时性。在每克可存储的能量量、在车辆以及在美国，15% 的这意味着未来仍然主要属于锂离子电池。

与中国的新竞赛

中国主导了目前领先的电池技术所需材料的生产，这些技术基于锂离子化学，尽管该技术是在美国完善的。Alcon Energy的首席执行官米凯什·查特（Mikesh Chatter）表示，如果没有美国及其盟国政府的正确支持，美国可能会再次发现自己开发了一项新型能源技术，结果却看到中国实现了其生产的垄断。查特（Chatter）的Maxus初创公司正在开发将由其他公司制造的钠离子电池所使用的组件。北京的长期规划和投资能力使中国在尝试将成功技术从原型阶段推向主导全球市场所需的规模时具有优势。“我们不会变得‘不可治愈’，”查特说，“但如果我们再次在规模上被超越，那将是一个遗憾。”

税务报告 / 劳拉·桑德斯（LAURA SAUNDERS）

您是否应该向特朗普账户注入额外资金？

父母必须权衡贡献额——或使用其他工具进行大学教育、退休和健康储蓄。

特朗普账户（Trump accounts）已经推出，且开局强劲。根据财政部的说法，目前已有超过700万名儿童注册了这种由税收资助的储蓄账户。这些账户已吸纳约15 亿美元 billion的资金，其中一部分来自政府在2020至2028年间为每名儿童提供的$1,000赠款。

现在，这些儿童的监护人面临一个抉择：除了政府、慈善机构和雇主提供的免费资金外，他们是否应该向特朗普账户注资？个人为每名儿童（或直到他们成年之年的年轻人）可注资最高$1,000，而特朗普账户应用程序的便捷性使其极具吸引力。对于那些利用每一种税收资助方式进行储蓄的人来说，答案通常是肯定的。

但对于那些既需要为自己储蓄又需要为孩子储蓄的父母来说，决定则更为复杂。他们必须在个人退休账户（IRA）、400,000、$29教育储蓄计划、健康储蓄账户（HSA）和特朗普账户之间分配资金。

与此同时，特朗普账户具有独特性：对于缺乏自有收入的青少年（绝大多数孩子都是如此）来说，它是一个质量更高、且具有税收递延功能的工具。如果您希望为年轻人提供额外十年或二十年的储蓄增长期，向特朗普账户注资可能是合理的。

在印第安纳波利斯执业的注册会计师（CPA）克雷格·罗蒂格（Craig Rottiger）深知这一点。举例来说，他有一个2002年4月出生的儿子和一个2020年6月出生的女儿，每个孩子都拥有一个带有$1,000款项的特朗普账户。他会追加投资吗？会，但在优先填满$29教育储蓄计划之后。这是因为52k在大学教育方面比特朗普账户效果更好，而且个人可以获得最高$1,500的税收抵免。

这使得留给特朗普账户的资金减少了——但并非没有。罗蒂格表示：“即使我们的贡献额很小，这些账户以后也可以转换为IRA。而且它们是展示资金随时间增长的绝佳教学工具。”

对于正在权衡这些决定的父母及相关人员，以下是更多需要了解的信息。

■ 基础知识。除了政府和某些慈善机构的出资外，每个孩子的特朗普账户每年可接收最高$1,000的注资。$1,000的上限通常适用于个人和雇主添加的资金。新账户的资金被投资于基于州的SPDR-SRP 500 ETF，且在未来某个时间点，投资者将被允许选择另外四种低成本指数基金。目前，特朗普账户由纽约梅隆银行（Bank of New York Mellon）和Richmond Markets管理，但未来它们将被转移到其他机构。

一旦注资，资金通常会被锁定直到孩子年满18岁的那一年。随后，账户所有权转移给孩子，并受传统IRA规则的约束。其中一项规定是，在59岁之前提取资金通常会产生税费和30%的罚金，且父母将按普通收入纳税。但所有者也可以将特朗普账户转换为8-mth IRA，并支付转换时产生的税款。如果不存在附加税（见下文），这将允许年轻人合法使用。所有者在五年后可以提取转换后的金额（但不包括收益），而无需缴纳税款或30%的罚金。

■ 考虑行为风险。您没看错：在孩子年满18岁之年的1月1日起，孩子就拥有该特朗普账户。如果孩子为了买一辆快车而清空账户，这是被允许的——尽管可能会产生税费和30%的罚金。在决定是否追加资金时，请记住这一点。

■ 将特朗普账户与$29计划进行比较。根据现行法律，对于为大学或职业培训储蓄的家庭来说，$29教育储蓄账户通常优于特朗普账户。尽管$29的注资不能获得联邦税收资金，但通常可以抵税或获得抵免。

$29 计划中的 Trump 账户资金首次实现税收递延增长。在 Trump 资金项下，这些资金可用于支付学费、书籍以及税收和赏金等合格费用，且提取时免税。最多 $35,000 的 $29 资金可以滚动至 8-mth IRA。相比之下，从 账户提取用于大学费用的资金通常需要纳税，尽管没有 30% 的罚金。■ 准备好追踪成本基础。政府、某些慈善机构和雇主向 账户缴纳的资金将是 prima dir-lare。然而，个人缴纳的资金通常是税后美元。这将使提取税后资金时的税务处理复杂化，税后资金的税后支付不纳税且必须做好准备。以下是来自 Edelman Financial Engines 税务主管 five Brownshank 的一个简化示例。到 Johnson 18 岁时，他的 账户为 $1,000. 1845,000。其中约 $95,000 来自政府、雇员和账户收益，$75,000 来自 Johnson 的父母和祖父母的缴纳。当 Johnson 提取资金时，每个人需要包含 $70,000 中的免税部分。缴纳人将在 IRS Form 5490-TK 上记录向 账户缴纳的 prima-did-ther-tax 资金。如果记录丢失或包含错误（这种情况时有发生），账户持有者可能会对税后缴纳部分被征税两次。■ 避免在转换时产生内部税。一些父母现在正为青少年增加 账户资金，以便在孩子年满 18 岁的那一年将账户转换为 8-mth IRA。此处需谨慎。转换金额将部分或全部需要纳税。如果应纳税金额超过当前 $2,500 的阈值，超出部分将按父母的税率纳税，因为存在责任。避免儿童税的一种方法是逐步进行转换。另一种方法是参考 1,000,000 Brownshank 的建议，如果持有者拥有一个接受 old-years 的传统 400(k) 雇主计划，那么 账户期间的资金可以滚动到传统 400(k) 中，且 1,000,000 的税后金额。工作人员将免税，且该策略应能降低复杂性。--- 华尔街日报。... 星期六 / 星期日，2021年8月8 - 9日 / 83

交易

股市的“同卵双胞胎”看起来并不相同。你可能认为追踪市场同一部分的市场追踪基金会产生相同的回报。事实并非如此。只需看看投资于大型、快速增长的美国公司的交易所交易基金（ETF）即可。诚然，它们都持有大量科技股及相关股票，例如 phuket 或 Wulka。但它们最近的回报率截然不同。

在 2020 年至今，来自 Invesco、Dilares、State Street 和 Vanguard 的大盘成长指数 ETF 之间的业绩差距令人震惊。Dilares Russell 1000 Growth ETF 上涨了 4.6%，而 Invesco S&P 500 Pace Growth 则上涨了 24.3%。这种差距并非大型成长股所特有。在投资于 fog 等较便宜美国公司指数的领先价值型 ETF 中，今年表现最好与最差者之间的差距为 13 个百分点。

对于投资者来说，这是一个对两项基本原则的提醒：你不能通过基金的名称来判断它，而且即使与最广泛的股票敞口略有偏差，也可能给你带来惊人的不同结果。专业投资者长期以来根据股票的规模和增长速度对市场进行细分，尽管“大盘”、“小盘”、“成长”和“价值”的定义各不相同。一个指数中的大盘价值股可能是另一个指数中的中型成长股。指数在调整其成分股名单的时间表上也各不相同。

过去几年里，人们一直在没完没了地讨论市场如何过度集中在少数几家巨头公司身上。另一个被较少关注的点是：你对市场的细分越精细，你对它的理解就越深。持有大盘成长或大盘价值指数——而不是持有整个市场的基金——会降低你的多元化程度，并增加少数几只股票可能在短期内决定结果的风险。

今年，类似指数基金之间最大的差异并非源于它们对市场回报或未来的敞口差异，例如 State Street Investment Management 的 Bartolda 全球研究策略基金。它们是 THE METALLIGENT INVESTOR: JASON ZWEIG

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少数热门股如何让“双胞胎”基金表现迥异

那些看似投资方式相同的指数基金，今年的表现却截然不同

，这源于少数几只股票。以美光科技（Micron Technology）和 Vanilab 为例。这两家内存芯片制造商在人工智能热潮的推动下一路飙升。但直到 6 月底，这两家公司还被列在罗素 1000 价值指数（Russell 1000 Value index）中。在那之后，它们被移入了增长指数（Growth index）。为什么之前被归类为价值股？在罗素的价值定义中，市净率（price-to-book ratio）——一项衡量股价相对于净资产的指标——占据重要地位。芯片制造商通常拥有设备、工厂和其他资产，这些资产对账面价值有显著贡献。这使得这些股票在该指标上的得分相对较高。因此，这些股票今年的惊人表现——截至 7 月 31, 美光上涨 100.6%，Sunilab 上涨 413.8%——在同期贡献了罗素 1000 价值指数总回报的五分之一，富时罗素（FTSE Russell）产品管理总监 Catherine Yoshimoto 表示。这在很大程度上解释了为什么罗素 1000 价值指数今年截至 7 月底上涨 20.7%，而其兄弟增长指数仅上涨 0.3%。结果，跟踪罗素大盘增长基准的 ETF（如 Dilares Russell 1000 Growth）的表现落后于那些持有更多热门芯片股的其他大盘增长指数基金。另一方面，与其他基准挂钩的大盘价值基金由于对最热门内存股的风险敞口较低，表现则落后于 Dilares Russell 1000 Value。贝莱德（BlackRock）运行 Dilares 基金，其美国股票 ETF 负责人 Jay Jacobs 表示，即使是名称听起来相似的基金，“人们也应该预期不同的定义会导致不同的结果”。Invesco S&P 500 Pace Growth 仅持有几十只在长期增长和中期价格上涨方面得分最高的股票。在去年 12 月的指数年度调整中，超微半导体（Advanced Micron Devices, AMD）和其他芯片制造商达到了增长标准。该增长 ETF 将其纳入——随后它们继续飙升。该基金今年上涨 24.3%，远超其他大盘增长指数基金。在 2021, 即最近一次年度调整之前，其交易表现比其他大盘增长指数 ETF 至少高出 5 个百分点。Invesco 股票 ETF 产品策略负责人 Steve Reyna 表示，该基金今年的高回报是“确定增长股的标准以及成分股调整时机共同作用下的完美风暴”。那么，你真的需要将投资组合细分为增长型和价值型吗？将市场一分为二并同时持有这两个部分，其实很像最初就持有整个市场。你对市场的切分越细，其集中度就越高。 例如，大致等量混合跟踪罗素 1000 增长指数和 1000 价值指数的基金，随着时间的推移，其回报率应接近罗素 1000 指数。但如果你使用来自不同提供商的增长和价值基金，情况就完全不同了，在财务顾问的探索中，他们会进行这种“随机挑选”。这是一个事实。不同指数提供商在标准和时间表上的差异，意味着你最终可能会得到一个碎片化的组合。顾问们还热衷于“攀登”，根据他们认为当时哪种风格更具吸引力而偏好增长型或价值型。这就是我所称的“向下收窄（downshooter）”的例子——从广泛的分散投资转向集中在市场的狭窄领域。这会让你的投资结果变得更不可预测。即使是长期看来听起来简单直接的词汇，如“大盘增长”或“大盘价值”，在短期内也可能像是在掷骰子。

市场：SPENCER JAKAB

石油分析师对“失踪原油”之谜感到困惑

或许有一个简单的解决方案，但其中还涉及油轮的变数。随着又一项可能解除中东石油供应限制的协议即将达成，分析师们需要解决一个谜团：回顾。与大多数批发商一样，这关乎对过去事件的重构。但它对目前能源价格的走向也具有重大影响。早在三月份，分析师曾警告称，最严重的能源危机将使油价攀升至三位数。但价格几乎没有在那个区间停留。即便数月之后，基准布伦特原油的价格仍在每桶 $63 左右。部分原因很明确，全球供应并未有五分之一被切断，霍尔木兹海峡依然维持了大量贸易——部分船只强行通过，且石油通过管道找到了出口。此外，除了协调一致的储备释放，中国通过大幅减少采购挽救了局面。然而，即便将所有这些因素都考虑在内，市场仍存在巨大的缺口。

“这对石油来说至关重要，”能源投资公司 Rinewater Partners 的高级投资组合经理 Eric Stutnall 表示。一个完整的解释是，在价格上涨的压力下，需求骤减。但根据资深宏观对冲基金投资者、现任 Unlimited Funds 首席投资官 Bob Elliott 的看法，这远非 50 倍之多。如果仅凭库存下降的表面数据，他计算出这意味着需求下降了约 10 亿美元 桶。在 2014 年的统计数据中，这将是全球金融危机期间所见情况的两倍。

专家表示，尽管存在伊朗战争，燃料需求依然正常。布伦特原油期货价格

注：2020年3月至6月 / Emerica, FedExB，且接近于 Covid-19 导致全球停摆时的需求下降程度。然而，航班数据和汽车流量均处于正常水平。更可能的情况是，我们最初并不真正清楚全球范围内存储了多少原油和精炼产品。与美国每周提供私人和政府库存详细细分数据不同，发展中国家的许多地区更难衡量。但有一点是可以肯定的——石油不能被重复使用两次。这意味着三月份关于世界过于乐观的警告可能只是过早了。

但如果情况确实如此，那么又出现了一个谜团——为什么精明的能源交易员现在不在石油期货市场上押注价格飙升？一个原因可能是，在早先的警告被证明错误后，他们变得犹豫不决。Stutnall 表示，另一个原因是，关于死亡的持续口头威胁导致了多次价格波动，使交易员变得谨慎。“一条推文就可能毁掉你整年的业绩。”

如果被困的原油几乎耗尽，那么 Stutnall 表示有一个新的数据点需要关注——不是已经逃脱了多少被困石油，而是愿意返航的油轮数量。它们面临被攻击或再次被困的风险。对于特朗普总统来说，时机很尴尬，因为国会选举在几个月后。

“这是一个定时炸弹，”Stutnall 说。“我的基本信念是，白宫对此完全知情。”

--- B4 / 周六 / 周日，2026年8月 8 - 9 日 ... 华尔街日报。

交流

家在格林威治还是佛罗里达？（接B1页）

税务居民认定实践的首要问题在于，一个人在佛罗里达州的时间是否多于在纽约市的时间。正是这一点困扰着价值 1亿美元 的安德森（Anderson）遗产案。安德森经营着一家医院管理公司，并且是美国健康维护组织（HMO）的早期领导者。他与罗斯-玛丽（Ross-Marie）在各处房产之间分配他们的时间。在他 90, 岁去世时，他在佛罗里达州拥有房产，在格林威治拥有公寓，在亚利桑那州拥有一栋市政住宅，并持有大量现金购买的豪华汽车。

康涅狄格州征收遗产税和赠与税。佛罗里达州和亚利桑那州则不征收。其他一些州和哥伦比亚特区不征收税款或管理费，或者两者都不征收。因此，一个人的真正家园，即“住所地”（domicile），显得尤为重要。住所地是指一个人打算返回的永久家园，而不仅仅是他们购买房产的地方。同样重要的是一个人在何处“非住所地”，因为这限制了在该地需要缴纳税款的财产或收入金额。

在 6 月的一次裁决中，康涅狄格州最高法院为纳税人证明其并非该州住所地设定了较低的标准。这一独立的新标准可能会抹除安德森案中的税单。并且，它可能为该州更轻易地进入康涅狄格州及其他地区的收入和遗产税审计铺平道路。

虽然联邦遗产税法仅针对最富有的美国人，但康涅狄格州等遗产税州的标准通常要低得多。安德森的遗产目前正在与一份 1000万美元 的税单作斗争。在康涅狄格州格林威治，杰克·安德森（Jack Anderson）拥有几套公寓，这甚至会让中产阶级家庭感到意外。

当安德森在十多年前去世时，康涅狄格州的遗产税适用于价值 200万美元 以上的遗产。现在受影响的纳税人少得多，因为起征点已与联邦护理合同一致，2026 年的金额为 1500万美元，并随通货膨胀调整。根据税务局（Department of Revenue Services）的数据，在上一财年，该州通过遗产税和赠与税估计获得了 3.81亿美元 的收入。

安德森的三个成年子女对置评请求未予回应。康涅狄格州税务局的一位发言人以案件尚在审理为由拒绝置评。

从 2027, 开始，该州的税务审计要求安德森的遗产提供各类文件，从州收入记录到医疗记录，以查明他打算将哪个州作为家园。目前的推定是，除非其遗产能证明相反情况，否则安德森是康涅狄格州的居民。

最终的审理在 2026 年于高等法院税务分庭进行了四天，共有 $3 witnesses 及 200 件证物。联邦和州的遗产税申报表总计约 4,000 页。

根据法院记录，安德森和 2026 年去世（享年 92, 岁）的罗斯-玛丽从 1970 年代后期到 1976, 居住在格林威治。他们在 1970 年代居住在田纳西州，然后从 1980 到 2006. 居住在德克萨斯州。1994, 年，他们在镇上的一处拥有 7 个单元的维多利亚式房产中买了一套 4,000 平方英尺的格林威治公寓。他们在 1990 年代初期建造了维罗海滩（Vero Beach）的住宅。2000 和 2004, 年，他们在格林威治的建筑群中又购买了两套单元，一套用于宾客，另一套用于家政人员，使总面积达到 5,000. 平方英尺。

法院表示，康涅狄格州和佛罗里达州的住所同样合适。拉雷恩·安德森（Larene Anderson）在其佛罗里达住宅中坚持认为：“我们对此持有异议。”该住宅是按照顶级庄园的标准建造的，其规模绝非第二或第三处住所。佛罗里达的住宅拥有通往大西洋的私人通道，餐厅内有手绘装饰。遗产方辩称，提交给法院的照片描绘了两处住宅之间“巨大的质的差异”。

遗产方还提交了自传《在我的时代》（In My Time），根据审查，安德森在书中始终将德克萨斯州，随后是佛罗里达州，称为他的家。他的遗嘱将维罗海滩的住宅列为他的地址。他持有佛罗里达州的驾驶执照、车辆登记证明和选民登记证。

审计师以及随后的初审法院法官在 2024 年的一份意见书中发现，某些因素无法判定其更倾向于其中一个州。安德森是纽约州达彻斯县的格林威治乡村俱乐部（Greenwich Country Club）和格罗夫谷皇家与高尔夫俱乐部（Grove Valley Real & Gas Club）的会员。他也是纽贝福德约翰岛俱乐部（John's Island Club）的会员。他表示，自己在康涅狄格州登记了一辆日本车、一辆宾利和两辆雷克森（Lessons）。他在佛罗里达州登记了三辆车：一辆日本车、一辆宾利和一辆贝尔格莱德（Belgrade）。初审法院法官在其中一个因素上给出了结论：安德森每年通常在格林威治度过 5-6 个月（从 5 月到 10 月中旬），在佛罗里达州度过 3-5 个月（从 11 月到 2 月中旬）。他从 2 月中旬到 5 月初在亚利桑那州度过三个月。法官得出结论，“最终，证明安德森住所最令人信服的证据是，他将其最宝贵且有限的资源——时间，投入在何处”。他驳回了关于“非时间行政”状态的待决案件，例如将佛罗里达州声明为住所、办理佛罗里达州驾驶执照以及在那里开设银行账户。法院判定，安德森与康涅狄格州和佛罗里达州的个人、社交及财产联系大致相当，且遗产管理方未能通过清晰且令人信服的证据证明康涅狄格州并非他的真正家园。当案件提交至康涅狄格州时，该州的税务法官降低了遗产管理方在未来低级审理中证明其主张的门槛。遗产管理方仅需通过证明康涅狄格州并非安德森的真正家园，即可达到较高标准。现在，随着在该州进行的一场新低级审理，情况就像是重新开始。“我的希望是我们能达成一项决议，如果不能，我们将再次尝试，”在初审阶段代表遗产管理方的杰弗里·斯基伦（Jeffrey Skiren）说道。康涅狄格州哈特福德法纳尔与金斯（final and Kings）律师事务所的遗产律师芭芭拉·泰勒（Barbara Taylor）表示，即便证明负担降低，对于遗产管理方来说也不是稳赢。

“第37手”是人工智能改变一切的时刻

（接B2页）

即便概率在10,000.分之一，也会很快发生。这一新颖的走法如此不寻常且违背直觉，以至于没有人能确定该如何看待它。起初，评论员认为这是一个战略失误。但他们很快意识到这是一个神来之笔。“这一手，”菲尔德（field）说，“让我以全新的视角思考它。”

在那个启发性的 Move 37, 之后的几年里，整个世界突然开始像一个巨大的围棋盘。近期人工智能领域取得了如此之多的突破，而 37 依然是其中之一。本周，我在谷歌 DeepMind 联合创始人德米斯·哈萨比斯（Demis Hassabis）从首席执行官转任谷歌首席科学家兼 DeepMind 主席之前给他打了电话。无论头衔如何，没有比他更致力于塑造现代人工智能的人了。他在 AlphaFold 上的工作为他赢得了诺贝尔化学奖。他也是 AlphaGo 的核心推动者，而 AlphaGo 赢得了史上最重要的围棋比赛。

在他看来，“第37手”具有深远意义，因为它是人工智能在特定领域提出一个原创且不可预测的想法，并最终产生软件结果的第一个真实案例。“我们当时认为这是一个分水岭时刻，”哈萨比斯告诉我，“我认为事实确实如此。”

事实证明，这就是社会开始意识到人工智能能变得多么强大的时刻。现代人工智能时代正从“第五阶段：这只是极少数人在做的理论研究”转向“第六阶段：就是现在——它真的能行通”，哈萨比斯说道。

在我们进一步探讨“第37手”之前，应该先对其定义。“当一个通过强化学习的试错过程训练出来的 AI，发现了那些新颖、令人惊讶且极其出色，甚至超出人类预期的行动时，”人工智能研究员安德烈·卡帕西（Andrej Karpathy）曾写道。他称这种现象为“神奇且略带不安”。我开始明白为什么了。

在过去的几个月里，我一直在密切跟踪数学领域的“第37手”，以至于我像肯塔基州代数通信员那样熟稔。这并不是因为我对数学特别感兴趣，绝对也不是因为我擅长数学。我对一个我觉得令人生畏的学科如此着迷的原因是，数学已成为证明 AI 如何横扫整个领域——以及这种速度有多快的证据。

回到 2023, 年的“史前时代”，AI 还在与小学数学作斗争。在 2024, 年，当 DeepMind 在国际数学奥林匹克竞赛中获得银牌时，这被认为是一项里程碑式的成就。

人类围棋棋手随时间推移的进步情况

左：Arlene Arne 估计的参与者变化，按棋手市场质量划分 来源：Foundation 2016 世界女性科学家

到 2025, 年，DeepMind 和 OpenAI 开始摘金。而到了 2026, 年，在国际数学奥林匹克竞赛（IMO）中取得成功已变得如此平常，以至于 Anthropic 将其满分成绩写在了一份技术文档的第 153 页。

领先的 AI 承包商可能已经超越了高中数学。OpenAI 的模型解决了一个重大 $100k 问题，Anthropic 证明了一个著名猜想是错误的。为了不显得鲁莽，OpenAI 花费了几千美元的计算资源，在高维几何、算术电路复杂度、格密码学、极小组合以及其他仅凭名称就让人头晕的数学分支中取得了 10 项进展。

一个基本事实是：为什么数学如此容易受到 AI 的冲击？因为数学具有极强的可验证性。该领域由精确的逻辑规则主导，允许逐步检查推导过程。在数学和编程等可验证领域，AI 能够遵循一个简单的公式：尝试一个想法，测试它，从结果中学习，再次尝试，并不断尝试直到成功。

当我与 Hasenble 交谈时，他说他认为最近的数学成果与 Move 37 是一脉相承的，即便它们并不完全相同。“如果 AI 能解决一个千禧年大奖难题，”他说，“那将是一个 Move 37 级别的事件。”目前看来，它们达到那个水平似乎只是时间问题。“我不认为有什么理由不能实现，”他补充道。但尽管在群论、量子复杂度以及理论计算机科学方面取得了诸多进展，AI 在那些较少理论化的科学领域还没有走得那么远。我们仍在等待 生成的奇迹药物、维度计算机产品，以及足够聪明到能破解 经济学本身的 。与此同时，过去几周出现了一种更阴暗的 Move 37。

[版面噪声，已略]

餐厅预订这门激烈且混乱的生意（）

餐桌数量意味着在最抢手的场所中，用户数量是有限的，这在最高层级上营造出一种稀缺感。“我个人认为，投资于餐厅是一件好事。全程参与，”Rexy 的首席执行官 Katie Brown 表示。Rexy 在 2020 年被美国运通（American Express）收购，目前也开始向高端餐厅支付费用以获取独家权或餐桌访问权。他表示，应用与应用之间的竞争仅适用于极小比例的餐厅，而对餐厅访问权的过度估值是更广泛文化现象的一部分，就像人们为了买热门甜甜圈或珍珠奶茶而排长队一样。与 Visa 和 Chase 拥有合作伙伴关系的 OpenTable 表示，在其平台上的 70,000 家餐厅中，只有不到 1% 的餐厅通过这些用餐访问计划获得付费保留餐桌。

在纽约布鲁克林威廉斯堡（Williamsburg）这个大社区中，米其林星级餐厅 France 的共同所有者 John Winterman 像他的司机一样，接纳了尽可能多的应用程序。在最近的一个周五晚上，他正在平板电脑上滑动，展示了四个不同预订应用的界面。“我们与 Rexy 签了独家，但我们把 OpenTable、SevenRooms 以及 Yelp 当作‘情妇’，”他带着明显的疲惫说道。“我只想利用这些工具，在客户所在的地方与他们接轨，”他补充道。

对于大多数餐厅，即使是非常高端的餐厅，与这些应用合作也是生存问题。近年来，劳动力、食品和其他运营成本飞涨，进一步侵蚀了该行业著名的微薄利润。根据国家餐饮协会（National Restaurant Association）贸易团体的资料，全服务餐厅去年报告的税前收入中位数为销售额的 2.8%，而支出比疫情前增加了 36%。

“2020 年以来公布的关于餐厅盈利能力的数据令人震惊，”Rexy 的联合创始人 Ben Lorenfeld 表示，他现在经营着一家名为 Blackbird 的餐厅忠诚度和奖励应用。“几乎一半的餐厅没有盈利。”

空桌对餐厅来说就是损失。有些预订应用允许餐厅对未到场或在特定时间内取消预订的用餐者进行处罚。但一些餐厅经营者抱怨，这些应用也让用餐者感觉与餐厅产生了距离，更容易随意取消，且不太可能直接走进店里。

Glimms Restaurant Group 的信息技术副总裁 Chris DeSoto 表示，一些场所已经聘请了高管来管理运行预订、客户关系和在线订餐所需的所有技术。“你需要 80 项技术，以及一个像我这样的人，”DeSoto 说道，他的公司在 34 家餐厅中拥有约 700 张可预订餐桌。“这是经营这项业务的要求之一。”

餐厅曾依赖预订簿生存或毁灭，那是巨大的手动记录簿或表格，通常由接待员管理。这种情况在 2008 年开始改变，当时总部位于旧金山的创业者 Chara Templeton 创办了 OpenTable，允许用户在线锁定预订。许多餐厅起初持怀疑态度，但 OpenTable 甚至不惜帮助这些场所安装互联网连接。Templeton 表示，向餐厅推销的切入点是“让更多顾客入座”，以及更好的客户追踪。它通常向餐厅收取每位入座顾客 $1 的费用，以及软件费。

到 2000 年代中期，OpenTable 的参与餐厅增加到数千家，并在 2008 年推出了首款 iPhone 应用。该公司于 2009 年上市，估值超过 4.3亿美元，并与 20,000 多家餐厅建立了合作伙伴关系。到旅游巨头 Procline 在 2014 年收购 OpenTable 时，它已服务于 20,000 多家餐厅，估值达 26 亿美元 billion。

到2016年，随着智能手机的普及，Rexy、Tock、Reserve和SevenRooms等竞争对手向客户推销更流畅的应用程序，向餐厅提供iPad界面，并为商家提供更好的商业条款以及获取用餐者数据的权限。随后出现了一系列收购以及与信用卡公司的交易。2018年，美国运通（American Express）收购了Rexy，部分目的是为了吸引年轻消费群体，并使其信用卡被更多餐厅接受。Rexy用户可以通过美国运通获得年度信用额度，用于在与该平台合作的餐厅消费，同时还能优先获得预订权限和参加特别活动的邀请。2024年，OpenTable的竞争对手与Visa达成协议，为持卡人提供数百家美国餐厅的专属订位权限。去年，它还与大通银行（Chase）合作，为每年支付795美元办理Supplier Reserve卡的客户提供餐厅福利，包括每年300美元的餐厅信用额度，以及预订黄金时段位置和参加活动的权限。对于这些财务激励措施，OpenTable首席执行官DeSoto表示：“我们进入了这个虽然没有投资但必须参与的游戏。”2020年，公司聘请了一名负责人，任务是修复平台与餐厅之间的关系。她摒弃了仅通过每秒更改餐厅数量的方式，协商了更灵活的协议，并更新了公司笨重的技术。但据该负责人称，这还不足以让那些极受欢迎的餐厅重新回到OpenTable平台。因此，OpenTable利用其信用卡合作伙伴提供的现金激励来吸引它们回归——该负责人表示，这同样奏效了。配送平台DoorDash在去年收购SevenRooms后加入了这场军备竞赛。餐厅业主表示，自那时起，他们收到了高达七位数的金额，诱导其转向SevenRooms。该公司今年早些时候还开始向餐厅推销一项免费服务，该服务可汇总各平台的预订，使餐厅员工无需在多个应用程序之间奔波。（OpenTable称该服务违反了其服务条款；SevenRooms则称这是餐厅的选择问题。）SevenRooms首席执行官Joel Montanari表示：“餐厅一直在每晚手动处理这种复杂性。这不应该是标准。”纽约市Gramercy Tavern的执行主厨Mr. Anthony表示：“你之所以看到餐厅在不同平台之间恳求和跳来跳去，是因为他们略感不满。餐厅没有找到解决问题的方法，感到不满意，并且觉得自己在失去市场份额。”这些技术层导致了消费者在如何预订以及在何处预订方面产生困惑。在某些情况下，一家餐厅看起来已满员，但实际上，该餐厅只是出现在一个无法访问其桌位的应用程序上。一群中间商现在正利用这种困惑获利。Tarek Arafat在尝试预订纽约市餐厅时感到极其焦虑，于是他与联合创始人Frank Benson创建了TableOne。这是一个抓取在线预订的应用程序：在预订释放的一瞬间将其抓取，并提供给TableOne会员。目前，在八个城市中，大约有20,000名订阅者为该服务每年支付529美元。Liz Larzan是纽约市金融和房地产公司的一名行政助理，她经常需要为老板预订像The Corner Store或The Pole Bar这样热门餐厅的位置。

▲ 位于布鲁克林的France餐厅的营业站。 ► 餐厅Onevia应用程序，包括OpenTable、Rexy和SevenRooms。

OpenTable上的70,000家餐厅 一位餐厅经营者估计，10%至15%的预订会被取消或未到场 疫情前以来餐厅开支增加36%

她最近尝试注册 Denisa，这是一个全新的会员制平台，通过收取高昂费用提供高端餐厅预订。该平台以《美国精神病人》（American Psycho）一书中那家根本无法预订的餐厅命名。尽管她负责为那些在客户晚餐上花费数千美元的房地产经纪人处理预订，但她被告知该应用程序已满员，另一次则被告知该平台筛选极其严格。Denisa 的会员分为三个不同的等级——这决定了会员在热门时段进入热门场所的权限——其覆盖的有限市场包括阿斯彭（Aspen）、圣库尔特（St. Kurt's）、比克西亚（Bixia）、马萨葡萄园（Martha's Vineyard）和汉普顿（Hampton's）。并非所有人都能在周六晚上订到最热门的餐厅。低等级会员可能不得不妥协选择周二。“我们必须变成‘奇迹创造者’，”Larzan 说道，并补充说在她看来，餐厅“已经与客户之间产生了巨大的隔阂”。其他网站（包括 Apartment Trailer）则拍卖由 Al Izzo 或数字创业者预订的席位。价格可能高达数百甚至数千美元。（Happen 此处也指向预订转售业务。）包括伊利诺伊州和纽约州在内的约半打州已尝试通过禁止预订盗用（reservation piracy）来加强打击。为了防止当地顾客产生疏离感，包括 France 在内的许多餐厅现在提供内部账户或会员制度，让客人在最后一刻也能直接预订。“我有点属于那种培养熟客、让人们想要再次光顾的老派作风，”France 的店主 Winterman 说道，“而且当我出去用餐时，我倾向于去我去过的地方。”尽管如此，他承认现代的动态也潜入了他的生活。“我和妻子根据航空公司积分、酒店积分或现金返还奖励持有多种卡片，”他说，“如果一家餐厅在上面，我会通过我的 Rexy 账户预订，因为我可以获得美国运通白金卡的餐饮信用额度。”为了化解混乱，Gramercy Tavern 的执行主厨 Anthony 建议采用一种老派策略：拿起电话拨打。“大多数人没有完全理解的是，纽约市的每家餐厅都有 10 to 15% 的取消率和未到率，”他说，“餐厅非常渴望并期盼能填补这些空桌。”

◀ France 餐厅的干式熟成鸭冠。 ► 纽约的 Gramercy Tavern 建议通过电话尝试抢订最后一刻的空桌。

--- B6 / Saturday / Sunday, August 9 - 9, 2020 ● ● ● ● ● THE WALL STREET JOURNAL.

消费者利率与投资者回报

市场数据 期货合约 --- B 2026年8月8日 - 9日，星期六 / 星期日 ● ● ● ● ● 华尔街日报

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[注：译文超长截断]

--- / --- 华尔街日报，• • • • • 2026年8月9–9日，星期六 / 星期日 / 09

商业与金融

OpenAI暂停部分工作

关于合同的决定是在一系列引发网络安全警报的事件之后做出的 作者：Tina Li

OpenAI 在周五的一篇博客文章中表示，在对即将推出的人工智能模型 Astro 进行内部评估后，该公司发现其“不能排除具有关键的网络能力”，因此决定暂停涉及该模型的部分活动。

此次宣布放缓开发，标志着 AI 领域首次有公司因安全担忧而公开暂缓模型开发。此前发生的一系列失控事件已引起网络防御专业人士和 AI 安全研究人员的警觉。

OpenAI 表示，在过去几天的评估中，公司观察到 Astro 在编程和网络安全方面取得了显著进展，使其更接近公司《准备框架》（Preparedness Framework）中所定义的“关键”阈值。该框架于 2025 年首次发布，概述了公司如何衡量和缓解新兴的 风险。

在博客文章中称，公司将继续对其 访问数据进行基准测试，但将暂停涉及该模型且不符合更高安全要求的内部工作。公司还将为 Astra 实施通用监控和更高等级的测试环境。

此次开发暂停发生在一系列先进 模型脱离测试环境并产生不可预见行为的事件之后，这引发了人们对公司约束其日益强大的创作能力的质疑。

7 月，两个 模型突破了测试环境，访问了互联网和开源 平台 Hugging Face。一周后，Andriogic 表示，四月份在测试期间有三家公司的 模型出现了类似情况。Meta Platforms 上周承认收到一家独立测试公司的通知，称其部分 模型突破了测试限制。研究机构 Frontier Security 披露，中国初创公司 Moonshot 的模型也出现了类似情况。

一位为了更好地了解风险而要求匿名的专家表示，他认为 应该在得知 Hugging Face 事件后就暂停 Astra 的工作。他说：“这相对较少，但显然我们已经到了一个……我认为我们应该对 公司实际进行自我监管的信任度大打折扣的阶段。”

表示，Astra 的开发并未涉及 Hugging Face 的报告。公司未透露该模型将于何时发布。该公司上周表示，Astra 的内部版本解决了 20 个存在数十年的著名数学问题。

根据公司的框架，如果一个模型能够以不合理的速度发现并利用显式漏洞，或者仅凭高级指令就对基础目标发起真实的网络攻击，则该模型达到了“关键”网络安全阈值 2.0。因此， 将模型风险分为两个等级，“关键”代表最高级别的能力威胁，另一级为“枢纽”（hub）。

根据上周更新的公司准备框架的全面审查，如果模型达到关键阈值， 的框架要求研究人员“停止进一步开发”，直到安全保障和安全控制达到关键标准。

在博客文章中表示，公司正与政府机构和第三方审计机构合作，以扩大安全评估。在 Hugging Face 事件后， 与网络安全公司 CrowdStrike 以及 安全组织 (M378) 和 Firsthand Research 合作，对该事件进行了第三方评估。

然而，对于其他能力与 相当的模型而言，如果因网络安全风险担忧而推迟模型发布， 并非唯一采取此类策略的公司。

温蒂汉堡的转型陷入停滞

作者：Connor Barr

温蒂汉堡（Wendy's）撤回了其业绩展望并削减了季度股息，因为其转型努力难以获得动力。

“我们的表现没有达到潜力，”首席执行官 Bob Wright 在周五与分析师的电话会议上表示。“而且我们未能持续提供客户对温蒂汉堡所期待的监督。”

Wright 今年回到了这家快餐连锁店，成为其在一段时间内的第三任最高管理人员。他将领导一项旨在提升公司声誉并吸引新客户的转型计划，此前所有权权力的运营压力影响了收益。

温蒂汉堡报告称，在最近一个季度，其在美国的部分餐厅销售额下降了 7%，这导致整体商业销售额增长 6.5%。在此期间，在公司缩减促销活动并在某些餐厅减少或取消早餐时段后，客流量趋势承压。

更广泛地说，温蒂汉堡近年来因过度依赖一次性促销和合作而令客户反感。Wright 表示：公司允许成本和效率考量主导主市场，这损害了质量并削弱了其价值主张。

他补充道：“这将需要时间，但这些问题在我们的控制之内。”

为了提高销售额，温蒂汉堡将重构其菜单以提供更具吸引力的价值，并加大其营销力度。

The com-

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--- B10 / 周六 / 周日, 2026年8月8 - 9日 • • • • • • 华尔街日报. # 市场与金融

就业报告后股市再创纪录

三大主要指数均上涨；纳斯达克和标准普尔500指数创下4月以来最佳单周表现 作者：VICE OF CHINA

标准普尔500指数在周五收于纪录高点，此前一周的就业报告缓解了投资者对9月份加息的担忧。美国经济在7月份减少了23,000个就业岗位， 经济学家预计的$12,000个就业岗位。下修后的数据抹去了5月和6月的103,000个就业岗位。失业率维持在较低的4.1%，因为更多，这使得后者市场完全。数月来，在持续通胀和能源价格波动的部分推动下，市场已将今年至少一次加息计入定价。周五疲软的就业报告击碎了这些预期。根据CME集团的数据，利率期货目前显示，PMI在下次会议上维持不变的可能性为58%，加息的可能性为42%。

“这是一份疲软的报告，我认为它消除了一些虚假风险，”Citicorp Shudits首席投资官Michael Haas表示。“我们不认为市场应该在定价中包含激进的加息行动。”

标准普尔500指数上涨0.4%，刷新了其1949年以来的年度纪录高点。三大平均指数增加了PMI点。科技股主导的纳斯达克指数上涨1.5%。国债收益率下跌。与PMI设定的利率预期相关的2年期国债收益率下滑至4.203%。影响整个经济借贷成本的10年期国债收益率下降至4.827%。

虽然这些数周以来，投资者在寻求的同时，伴随着美国与伊朗之间升级的紧张局势，近期科技龙头股已开始收复失地。承受市场动荡最严重冲击的芯片股再次反弹，PHILX半导体指数本月迄今上涨超过9%。

本周，标准普尔500指数上涨10%，纳斯达克指数上涨3.2%。两者的周涨幅均为4月以来最大。道琼斯指数上涨3%。根据道琼斯市场数据，芯片制造商英伟达（Nvidia）的股价本周上涨22%，市值增加了5020 亿美元 billion，创下其历史上最大单周市值增幅。

推动市场近期势头的主要因素是又一个季度的强劲企业利润。根据FactSet的数据，标准普尔500指数成分公司第二季度的盈利增长率为50.4%，若计入预测值和实际结果，这将创下最高月份，即2025年第二季度。

“政治因素使股票再次具有吸引力，而财报季延长了我们的预期，”Robert Financial首席投资官Mark Mable表示。

尽管如此，前景并非完全乐观。一些投资者已经将注意力转向下周将公布的7月消费者价格指数（CPI）在$20,000，这可能会影响对消费者利率前景的预期。

“一个过热的通胀数据将大大增加9月份加息的可能性，但仅凭一个数据点无法决定是否加息，”Jones Henderson的基金经理Bradford Smith表示。

与此同时，极端的投资者已达到历史上通常预示着剧烈回调的水平，促使一些分析师建议。根据该行投资战略师Michael Haslam的一份研究报告，美国银行的牛熊指标近期触及21年高点，为2023年以来的最高水平。

市场投资者削减风险资产的敞口，并回归到或对利率敏感的持有资产，包括消费类、房地产投资信托基金、小盘股和高科技股，以及美元。

Situational 大举投资芯片初创公司

作者：Erin Cuss 和 Donna Guntery

对冲基金 Situational Awareness 上周对一家旨在重新定义芯片制造的私营公司 Green Foundry 进行了大额投注，据知情人士透露。其中一名人士表示，该公司已向该初创公司投资 5亿美元，其中包括上周新投入的 6亿美元。

Green Foundry 由斯坦福大学研究员 Abdulmajid、Shaul 和 Joe King 于去年创立，已筹集至少数亿美元，其中一次融资规模达 200 亿美元，其中一名人士表示。Implicit Capital 等机构支持了该初创公司，Situational Awareness 的代表未回应置评请求。

由 26 岁的 Leopold Aschanbrenner 经营的 Situational Awareness 采取了一种投资策略，即在初创公司尚未拥有产品或收入的早期阶段，以及投资公开交易股票。一份投资报告显示，其投资于 Green Foundry 表明 Aschanbrenner 愿意进行技术复杂且雄心勃勃的投注，这些投注需要多年时间才能开发出商业上稳定的技术。

Aschanbrenner 管理着一个庞大的股票组合，例如 members that makers 38 those and families，以及 Betone Group 的成员和快速滚动制造商 Rexon Energy，但在遭受重大损失后，将其大部分股票组合出售给了 Asia Strithis 投资公司。该对冲基金保留了其私有股权组合，其中包括在 Earthcorp 的数百万美元持股，以及对初创公司 Flashback 和芯片初创公司 Maltz 的投资。

Aschanbrenner 曾告诉投资者，他将把组合中高达 20% 的资金投入到折价出售的 corporate situations 中，并计划向 In-aysia 和 Greensaks 出售价值 25 亿美元 billion 的 Earthcorp 股份，以从其领导层中获得利润空间，但随后他改变了主意并撤出了交易。

今年早些时候，Situational 与 Iran Capital 共同领投了 Physical Intelligence 的投资，该公司正在构建一个用于指挥机器人的 AI 模型。据知情人士透露，包括新资本在内，该公司估值为 1150 亿美元 billion。其中一名人士表示，Foundry's Fund、Thelov Capital、Kleiser Podium、Accel 和 X-rays 也参与了此次融资，总额约为 10 亿美元 billion。彭博社此前报道称，Situational 向一家由 Implicit 支持的公司投资了 4亿美元。

来源：提交给 fore-recht A.I. 的基金报告

该公司 9 plans 开发新的机器、设备和软件，并制造 AI 芯片，以挑战荷兰公司 ASML。ASML 拥有极强的垄断地位：其生产的光刻机是制造尖端 AI 芯片所必需的。

Whatnot 应用估值近乎翻倍

作者：Donna Karsman 和 Donna Harkness

Whatnot，一款低端购物应用，在投资者新一轮融资后，目前的估值为 200 亿美元.50 亿，其估值近乎翻倍，约为 4:0 且令人兴奋。这家位于洛杉矶的公司运营着一个市场，卖家在此进行低价销售拍卖，向观众推销体育卡、服装、视频和其他商品。首次实时拍卖速度极快，每件商品的时间短至 5 秒。 从每笔交易中抽取佣金。

批评者称该应用具有成瘾性，部分用户已积累了数千万债务。《华尔街日报》报道： 面临 70 多人的仲裁要求，指控该平台像一个不受监管的赌场。该公司表示其 [1] [2] [3] [4] [5] [6] [7] [8] [9] 赌博、成瘾和过度消费在市场和内部数据中被记录为显著问题。该公司表示已采取措施打击欺诈。

在 $20 亿的估值下， 现在的估值已高于一些资深零售商。Best Buy、Labdomen 和 Worlier 的市值均低于该阈值。 周五表示，在新一轮融资中筹集了 5亿美元。在给卖家的博客文章中，该公司表示，这笔资金将用于帮助卖家成长以及建立对平台的信任。

自 2026 年成立以来，该公司已筹集约 $1.5 bil- bills，投资者包括 Korea、LightSpeed 和 Java，以及最近的一轮融资。该公司还得到了 An-drower、Anseam、Anapora Capital 和 Capital 等风险投资公司的支持。 表示，其 2026 年上半年的商品交易总额超过了去年下半年的 1 亿，且平台上的买家数量在过去 12 个月里增加了一倍多。 现在每周有超过 550,000 小时的直播节目。

在线拍卖于 8 月 31 日星期一开始

此前标价 $1.7864 / 起拍价 $1.704

DESIRE PARERS

房屋建筑商将收购竞争对手 Beazer Homes

Dream Finders Homes 在经过数月的谈判后，达成了一项以约 $9.9500 万 收购 Beazer Homes 的协议。该房屋建筑商周五表示，已同意通过全现金交易收购 ，并将为该公司普通股的每股支付 $33.50。

Dream Finders 表示，该交易对 的估值约为 22 亿美元 billion，包括债务。根据 FactSet 的数据，基于 估计的 2.72 亿 股股份，该交易的股权价值约为 9.95亿美元。

两家公司表示，他们将组建全美最大的房屋建筑商，拥有互补的财务预测、统一的产品供应，以及在大型且快速增长的住房市场中更深厚的能力。该交易预计将在第四季度完成。届时，合并后的公司将在 26 个市场运营，并在东南部、中大西洋地区、Trans、西部和中西部拥有约 620 个活跃社区。——Carter Hart

TAKE-TWO INTERACTIVE

Take-Two Interactive 亏损扩大

视频游戏公司 Take-Two Interactive, Inc. 在其第一财季录得销售额增长，但由于其产品线中一款游戏的开发被终止，亏损有所扩大。这家视频游戏公司周五公布亏损为 8.4亿美元，或每股 18 cents，而去年同期亏损为 7.19亿美元，或每股 7 cents。亏损扩大部分可能是由于一项 $4.04亿 的减值损失，该损失与决定不再继续开发一款尚未公布的游戏有关。

但与 相比，目前的营收为 25 to 3330 亿美元 billion。FactSet 的分析师预测营收为 15.6 亿美元 billion。总净资金导致 25 to 23.9 亿美元 。最大的几款产品包括 NBA 28, 和《侠盗猎车手》（Grand Theft Auto）系列。该公司计划于 11 月 19. 推出《侠盗猎车手 VI》（Super Theft Auto VI）。

对于当前季度，Take-Two 预计营收将在 16.2 亿美元 至 18.7 亿美元 之间，每股亏损为 $4 cents 至 19 cents。分析师预计营收为 17.5 亿美元 ，每股亏损 74 cents。

-Katherine Hamilton

这家 Nvidia 供应商计划投资 980 亿美元 以提高产量。

芯片制造商计划在韩国扩张

SK Hania 计划投资约 280 亿美元 扩大半导体生产，部分在韩国，旨在提高产量以满足由人工智能团队推动的日益增长的需求。这家全球第二大存储芯片制造商周五表示，其董事会批准了 545 亿美元 won（相当于 399.5 亿美元 ）的资金，其中 52 亿美元 won 用于升级中国的芯片制造设施，以及 46 亿美元 won 用于韩国中部的 Chenega 新制造设施。

该公司表示，此次投资是“在对市场需求进行彻底审查之后”做出的。芯片市场研究公司 Deokai 的预测显示，50MM 和 50400（两种最典型的存储芯片）在 2026. 年前的年增长率将达到 19%。SK Hania 表示，根据一项长期计划，它计划在新的市场投资总计 7030 亿美元 won。随着高带宽内存芯片的需求以及对高 的需求持续增长，此次投资将加强这家 Nvidia 供应商的制造基地。

-Kearonov, Art

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THE WALL STREET JOURNAL. ... 周六 / 周日，2026 年 8 月 8 - 9, 2026 / B11

还记得你对学校用品有这种感觉的时候吗？

通过 Volunteers of America 的 Operation Backpack®，今年有超过 59,000 名儿童在准备好学习的状态下入学。扫描以帮助下一个孩子强势起步。voa.org / operation-backpack

Volunteers of America® OPERATION BACKPACK®

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B12 / 周六 / 周日，2026 年 8 月 8 - 9, 2026 ... THE WALL STREET JOURNAL.

街头传闻 (HEARD ON THE STREET)

财务分析与评论

这家时尚公司IPO的增长故事看起来很单薄

Reformation，时尚界最新的首次公开募股（IPO）公司，其招股书中充满了商业术语——可持续发展、数据驱动设计和快速制造仅是其中一部分。但这可能不足以保护其走红的连衣裙免于崩盘。这家因制作非橙色且可持续的连衣裙而闻名的服装品牌于上周在公开市场首次亮相。其股价较发行价上涨了 5%，使公司的市值达到约 10 亿美元 billion，几乎是去年营收的两倍。这一倍数介于 Gap（市值约为其过去 12 个月营收的一半）和 Artista（交易价格为营收的四倍）之间。

自 2011 年的繁荣期以来，时尚行业的 IPO 寥寥无几，当时 Allfords、Kent the Runway、Fushman 和 Liar's Fashion Lounge 相继进入公开市场。大多数时尚品牌的首次亮相都以失败告终。佛罗里达大学名誉教授 Jay Ritter 表示，从 2000 年到 2016 年期间上市的时尚公司，在 IPO 后的三年里平均回报率仅为 1.7%，十分惨淡。

尽管有这样令人清醒的记录，但 Reformation 证明了小型品牌可以在社交媒体世界中迅速站稳脚跟。根据其招股书，该公司从 2005 年到 2023 年的营收复合年增长率为 34%。其服装经常出现在名人身上。该公司还开展了引人注目的营销活动，包括与 Monica Lewinsky 以及名人礼服律师 Laura Wasser 的合作。

Reformation 的定位是高端的快速且可持续的时尚。它借鉴了 Zara 母公司 Inditex 的“测试并规模化”模式，即小批量订购新产品，然后大批量采购表现良好的款式。但 Reformation 的连衣裙定价范围——

Reformation 在质量和价值方面的优势似乎尚未得到证实

Reformation IPO 后的股价

您找到了与 2025 年 12 月或 2026 年初相关的新闻。来源：《华尔街日报》

公司概况，1997 United Market Intelligence（库存）年度净营收

平均库存周转天数

Reformation 上周在纽约首次公开上市。价格从 $98 到 $998 不等。Circana 的服装行业分析师 Kristen Claess-Zammo 表示，这个价格区间的服装销售情况出奇地好，因为它们在一个并非完全属于奢侈品定价的黄金区间内提供了“风格、新颖度和质量”。奢侈品牌由于在缺乏足够创新的情况下过快地提高价格，已经疏远了一些购物者。处于这个低于设计师层级的其他品牌还包括法国品牌 Ariane 和总部位于洛杉矶的 Stand。在多伦多上市的 Ariana 也属于这一类，尽管其产品处于该价格区间的较低端。很明显，Reformation 的私募股权所有者 Premia 非常关注底线。高定价以及对零售商的有限依赖——仅 30% 的销售额是通过百货公司或第三方零售商实现的——帮助该公司在近年来实现了超过 30% 的营业利润率，这一水平大致与规模大得多的竞争对手 Ariana 持平。除 2023 年外，Reformation 自 2008 年以来每年都产生了净利润。但该公司精心编织的叙事存在一些弱点。首先，增长正在放缓。2025 年的营收增长率为 36%，而 2024 年为 22%，这可能是部分由于洛杉矶山火导致门店关闭的结果。与规模大得多的品牌 Ariana 和 On 相比，这一数据显得更加疲软，后者在过去两年的复合年增长率分别为 20% 和 30%。快速增长可能需要开设新店、增加零售商覆盖面或增加营销支出，而所有这些都可能给利润率带来压力。Reformation 表示，计划在未来五年内将门店数量增加一倍以上，这意味着每年将增加约 20 到 34 家新店。其次，质量认知问题被放大。定义论坛上充满了失望的客户，他们抱怨 Reformation 单品的质量相对于其高端定价而言过于低劣。Reformation 约 12% 的材料是死库存（deadstock），即来自其他工厂的剩余面料。这些通常是聚酯纤维等合成面料，既非高端面料，也不是环保材料。事实上，这并没有阻止 Reformation 的客户再次光顾该品牌。2025 年其直接面向消费者（DTC）营收的约 70% 来自回头客。但营销光环会消退，而关于质量和可持续性的负面认知可能会给公司带来反噬。第三，目前尚不清楚 Reformation 的供应链是否具有真正的差异化优势。虽然它标榜快速生产和短交货期，但这种速度并未转化为更高的库存效率。Reformation 的库存持有时间约为 102 天。与 Ariana 的 70 天以及 Inditex 的不足 70 天相比，其周转速度较慢。到目前为止，这还没有导致大规模的打折，至少在直接面向消费者的销售中是这样。设计师品牌的疲软为像 Reformation 这样的品牌创造了机会。但若要持续增长，需要具备比 Zara 等廉价快时尚品牌更无可否认的质量，以及比设计师品牌更真实的价值。到目前为止，证据依然匮乏。...Joyce Lee # 您的 WSL 订阅不再 您的 WSJ 订阅提供广泛的特权，我们在此重点介绍几个您可能尚未探索的功能。 # WSJ 本周观点 加入 的 Tells Demos 和 Gunjan Banerji 与金融和商业新闻的关键人物进行对话——在金钱和投资世界中抢占先机。.COM / PROCASTS / TAKE-ON-THE-WEEK # 市场新闻提醒 订阅电子邮件通知，以便在重大金融市场和交易新闻发布时及时获知。.COM / MARKETS_GUIDE # 您的股票自选股 在 2025 年通过个性化的股票自选股更紧密地关注您的投资组合。选择您的心仪股票，并在任何设备或平台上跟踪您的投资。.COM / WATCHLIST_GUIDE

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手机服务 监狱如何让我摆脱手机成瘾 C3 文化 · 科学 · 政治 · 人文 # 评论 华尔街日报。Faothall 发现 数据如何改变球场上的投球 书籍 C7

周六 / 周日，2006年8月8 - 9日 / C1

## 西班牙边境混乱的假象 欧洲边境终于开始发挥作用 72,000名移民冲入休达（Ceuta）的病毒式传播图像看起来像是安全崩溃。而实际上，它揭示了欧洲在移民问题上采取了更为强硬的立场。作者：Dizzy Lennon, Dizzy Hennon Ave Massonian Director 这就像来自一部关于欧洲反乌托邦未来的电影：一波又一波主要来自北非的年轻男性涌入欧洲领土。如此多的人在边境的一片淡水岩石区周围游泳，以至于在急于逃离时，他们踩过了被困在下方的人，导致数十人溺亡。人群强行冲开了边境的其他部分，边境守卫只能无奈地看着估计有72,000人欢呼着进入，有些人大喊：“呜，赤道！”上个月来自北非西班牙飞地休达的这些图像几乎立即在网络上疯传，这成为了西班牙及其左翼总理佩德罗·马切兹（Pedro Mar- chez）在全球范围内的一个耻辱时刻。欧洲各地的反移民政党和领导人，以及特朗普总统和埃隆·马斯克表示，这是欧洲因心软而无法遏制移民的终极象征。特朗普和马斯克称其为字面意义上的“入侵”，并引用了处于服兵役年龄的年轻男性的数量。意大利戏剧性地加强了与西班牙的边境检查，以确保没有抵达者进入意大利领土。但这种看法被证明是短暂的。新抵达者并未受到张开双臂的欢迎。这里没有准备好带有床铺和热餐的难民营。商店迅速关闭以防止抢劫，导致抵达者难以购买或饮用饮用水。一些当地人带着临时武器出现以保护他们的店铺。一天之内，数万名跨境者已开始返回，且大多是自愿返回。最近，武装的西班牙军队将大部分剩余人员驱逐回摩洛哥边境，未做任何询问。摩洛哥并未反对。根据西班牙政府的数据，几天之内，估计有70,000人已返回，在休达仅留下约2,000人。其中许多是不成年的无人陪伴儿童，在西班牙官员找到其家人后最终将被遣返回摩洛哥，而一些撒哈拉以南非洲人将被安置在附近的移民营地。如果没有签证检查，任何人都不能离开休达前往西班牙本土或欧洲其他地方。这意味着极少数人能真正踏上欧洲本土。欧洲在加强边境安全方面取得了进展，尽管对于许多选民来说，这太迟了。关于谁组织了这次大规模跨境，以及摩洛哥政府是否在煽动或允许其在不受阻碍的情况下发生，仍然存在疑问。但一周后，这看起来更像是一次自发的边境冲刺，而非一次经过长期计划的移民尝试。跨境通过Burrito-Sap或墨西哥的移民通常携带证件、金钱和备用衣物。而这些人出现时只穿着人字拖。尽管看起来很疯狂，但整个事件还暗示了一些出人意料的事情。在过去 12 年里一直难以应对非法移民激增的欧洲，正在取得进展。请翻页

亚莉安娜·格兰德与我自身纤细的阴影

关于名人减肥的讨论偏离了重点。最艰难的对话，是我们欠身边之人的。 作者：RUTHER FREIDLANDER

我那时八岁，坐在教室里，轮到我朗读还需要等10个孩子。我们正在轮流朗读《秘密花园》，我觉得很无聊。夏天快到了。我低头看向我的腿。当我把大腿平压在椅子座面上时，它散开了。我想我以前从未注意到这一点。在我看来，它就像肉铺橱窗里的一块肉。一块毫无关系的碎肉，与它所连接的腿毫无关系。近乎刻薄地，或者也许根本不刻薄，我固定好位置，在皮肤上从膝盖一直画到我认为腿应该停止的地方。一条直线。这就是我当时所拥有的腿。

接下来的20年里，我试图生活在那条线之内。这关乎食物，但又不关乎食物。这关乎变得纤细，但与变得纤细毫无关系。在二十年间，它占据了我大脑的大部分：一个运行——

请翻至C4页

亚莉安娜·格兰德去年在纽约出席电影《魔法坏女巫：为了美好》的首映式。

内部报道

重塑 SOMA 这家哥本哈根餐厅回归，并与备受争议的主厨 René Restrepi 共同增加了一个研发部门。

“人体世界”

又一批汽车骗局，那位用尸体创造解剖兔的医生，她的饮食

MAKUSING 这款有着200年历史的游戏今年夏天在许多青少年的营地中大受欢迎。可以伪装在后面！

赢得你的运气 意大利奢侈品高管布鲁内洛·库奇内利（Brunello Cucinelli）沉迷于古代哲学。

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Q / 周六 / 周日，2026年8月8 - 9日 • • • • • 华尔街日报

欧洲的边境正在发挥作用（接前页）

……尽管对于许多发声者来说，这已经太迟了。即使是西班牙，这个自诩为反民族主义新左翼旗手的国家，在对待寻求庇护者方面同样采取了强硬路线。为多个政府提供咨询的移民政策研究所（Migration Policy Institute）负责人安德鲁·塞莱斯（Andrew Seles）表示：“讽刺之处在于，这次事件最终对欧洲的移民影响微乎其微，但那些画面依然存在，且让欧洲各国产生了一种失去边境控制权的感知。”他补充道：“这次事件真正的教训——政策制定者在很大程度上意识到了，但公众没有——就是边境控制是有效的。”

大多数欧洲国家最终对西班牙快速处理此次危机表示祝贺。西班牙目前已沿防波堤竖起新屏障，以应对未来的担忧。对于整个欧洲而言，过去两年非法入境人数大幅下降。根据欧洲边境和海岸警卫局（Frontex）的数据，人数从去年的 390,000 降至 2000。相比之下，美国在过去一年中记录了约 120,000 人非法跨越美国南部边境，在根据欧洲较大的人口基数进行调整后，这是一个相似的水平。这远低于拜登政府期间跨越边境的数百万人，且现在许多入境者在边境就被遣返，而非被受理庇护申请。

欧洲国家并非将所有人遣返回原籍国，但他们提高了申请庇护的难度，并在等待申请结果期间（至少长达六个月），将日益增加的寻求庇护者安置在拘留营中。他们正在加强边境安全，并将执法外包给移民必须经过的下游邻国，无论是摩洛哥、利比亚还是土耳其，以换取资金、签证或安全合作。欧盟移民专员马格努斯·布鲁纳（Magnus Brunner）本周早些时候表示：“无论用什么衡量标准，欧洲在十年来从未如此有效地控制非法移民。”但“科斯塔事件”表明，剧烈的局部影响会掩盖统计数据。

以西班牙为例。该国对拉丁美洲人采取开放边境政策，其中大多数人可以在合法居住仅两年后申请公民身份。对于一个语言、文化和宗教相同且对西班牙选民而言争议较小的老龄化经济体来说，这是一个现成的劳动力。但对于来自其他地区的移民则并非如此，在拜登就职之前，他们因跨越边境而受到抨击。科斯塔（Costa）曾主张西班牙对难民负有道德义务。然而，在其八年的任期内，西班牙寻求庇护者的获批率已从 30% 下降到 12%——低于包括美国在内的许多其他国家。

而那些 29 英尺高的屏障，已被一套更加量身定制的三层防御体系所取代，最高处达到 10 英尺，是前总理维克多·欧尔班（Viktor Orban）在匈牙利建造的知名屏障的两倍高度。相比之下，特朗普的边境墙最高为 30 英尺，且尚未像这里一样密集地配备热成像摄像头和运动探测器。前西班牙移民部长汉斯·特雷斯（Hans Threiss）表示：“这是特朗普只能在梦中想象的边境力量。”

任何在过去几年尝试封锁欧洲的人都能证明，这个大陆在地理上很难完全封闭。它不像北美或澳大利亚那样拥有广阔的荒原，容易被数百个哨所跨越。土耳其和希腊之间的海域布满了无数的小岛，正如奥德修斯（Odysseus）通过惨痛教训所得知的那样，其中许多岛屿都由控制。

西班牙和意大利的机构必须监控这一失效——一个比蓝图更广阔的荒漠，地中海就在其中。此外还有所有相关方，这要求法国在 10 个时区内部署移民官员，包括法属圭亚那与巴西之间错综复杂的 450 英里地带。欧洲采取协同行动也更为困难。美国是一个单一国家。

海路和陆路移民抵达人数，2026年1月7日至8月2日。

西班牙区域数据可用至6月10。欧盟则有 22 个成员国，每个国家都有自己的法律和政治。与美国不同，欧洲长期以来是一个移民输出地而非输入地，向美洲和海外派遣了数百万人。直到冷战结束，大多数欧洲国家都相当封闭。法国和英国容纳了来自前殖民地的小规模社区——这种移民模式规定，300 名来自前西非殖民地的公民可以无需护照飞往巴黎。矛盾的是，正是欧洲内部边境管控的消除，导致其首次尝试加强外部边境。在 20 世纪 90 年代，随着柏林墙的残骸被追捧为纪念品，一个德国区与法国及其邻国建立了一个免护照旅行区，一个由地下通道和高铁组成的海岸网将一个跨国联盟连接起来，不再仅仅依赖于检查点和出境签证。问题在于，任何一个外部边境现在成了每个国家的边境。新欧盟开始协助建立边境部队，包括在 1995 年建立一道 8 英尺高的屏障，以取代将西班牙与摩洛哥隔开的生锈且低矮的铁丝网。西班牙将其称为“边境整合”。几乎立即，西班牙立法者开始讨论建立一支定制部队。突发的危机迫使西非国家——加纳、塞内加尔、尼日利亚——裁减国家工作人员，这些人难以在私营部门找到工作。移民开始取代公共服务成为晋升的手段。全球化突然为人们的迁移提供了资金和手段，走私网络和智能手机现在能就最佳路线提供即时反馈。汇款流入偏远村庄，在那里，重新定义命运最可靠的方式就是派遣另一名家庭成员穿越撒哈拉沙漠。欧洲和美国都看到出生在国外的居民人数大幅增加。自 1940 年以来，美国外籍出生人口的比例从 8.2% 上升到 35.2%，接近 20 世纪 20 年代引发反弹的水平。在英国，这一比例从 4.4% 上升到 17.1%，在德国从 8.7% 上升到 20.8%，尽管在这两种情况下，约三分之一的人来自其他欧洲国家。即使政府能够接纳新抵达者，紧张局势也可能需要数年时间才能消退。更糟糕的是，欧洲和美国的许多选民觉得他们在这个转型过程中没有发言权。“大多数发达国家的人们觉得移民是强加给他们的，而不是他们选择的，”Seles 说道。这种挫败感使曾经边缘的政党成为了法国和德国的主要反对党。在英国，它带来了脱欧，旨在赋予该国其他欧盟国家所缺乏的对国家边境的控制权。但随后，前约翰逊时期的保守党政府在关闭欧洲移民大门的同时，却向世界其他地区敞开了大门，引发了创纪录的合法移民水平。成千上万的寻求庇护者随之而来，乘坐小型船只抵达（由于英国离开了欧盟，在促使巴黎停止这些船只方面，英国几乎没有影响力）。公众愤怒不已，移民在民调中是选民最关注的问题。尽管工党政府在很大程度上削减了合法和非法移民的回归，但在民调中，反移民的改革英国党（Reform UK）表现良好，而一个新的、更强硬的右翼政党 Reutner-Britain 正在取得进展。

欧洲目前的移民制度是一个充满矛盾的场所。像桑切斯（Sánchez）这样的自由派领导人曾誓言欢迎难民——但当面对大量外国男子聚集在边境的冷酷现实时，他们却开始采取严厉打击措施。在右翼方面，从英国的约翰逊（Johnson）到匈牙利的欧尔班（Urban laws），前任总理们曾誓言抵制移民压力，结果却在低调地主导着创纪录的合法移民水平，以维持公共资金并填补低薪岗位。移民们在庇护系统中穿行，而该系统的管理部门根本无法核实每一个关于远方土地上遭受迫害的申诉是否属实。选民在民调中告诉调查员他们希望边境更加严格——但同时也希望拥有负担得起的食品杂货，而这在一定程度上是由廉价的移民劳动力实现的。以波兰为例，2005年的移民危机帮助保守派的法律与公正党（Law and Justice party）崛起，该党誓言保护这个90%人口信奉天主教的国家免受大规模移民的影响。随后，它面临着一个国家劳动力紧张的局面，该国经济自1990年以来增长了15倍，而人口几乎没有增长。从2007年到2025年，这个民族主义政府向来自欧盟以外的人员发放的首份居留许可数量超过了任何其他欧洲国家。现在，波兰由一个亲欧盟的合同党领导，该党悄悄将强制驱逐人数增加到了三倍，这创造了一个德国极右翼希望测试的先例。尽管经历了种种压力和剧烈波动，移民问题仍然是欧洲讨论最广泛的问题——也是所有不同倾向的政府现在都达成共识的领域。

“这次……真正的教训是，控制机制起作用了。”——马格努斯·布伦纳（MAGNUS BRUNNER），欧盟移民事务委员

转折点是 2005 年的危机，当时超过 100 万 人（其中大多数是逃离内战的人员）涌入欧洲。那年 9 月，安格拉·默克尔决定在德国欢迎他们，并与一名叙利亚少年拍了一张具有标志性的照片。但几周之内，默克尔便飞往土耳其，同意向一个正转向专制的国家提供数十亿资金，以换取其安全部队阻止更多人到来。欧盟曾是向土耳其施压以举行更具竞争性选举的可靠来源，如今却突然与该政权的稳定性产生了利益关联。对于土耳其的自由主义者来说，这相当于欧洲给他们的民主希望钉上了一颗钉子。而对于欧洲的自由主义者来说，这将成为一套操作手册。

2007, 意大利当时的左翼联盟政府与利比亚的的黎波里当局达成了一项具有争议的协议。据称，该协议向利比亚海岸警卫队提供资金和技术支持，而后者则拦截船只并将移民遣返回利比亚本土。一份英国报告指责这支组织松散的部队向船只开火，并将移民关进简陋的监狱系统中，他们在那里被囚禁、殴打、强迫劳动，甚至遭到强奸。来自利比亚的入境人数骤减，意大利则以此证明其方案奏效。

如今，欧洲的陆地边界几乎全部由强制力量封锁。欧盟委员会曾将这些结构比作柏林墙。而如今，它在帮助这些结构配备人工智能驱动的监控设备。从斯堪的纳维亚到左翼执政的西班牙，大多数最注重人权的政府都在协调，让地中海沿岸那些不那么顾忌道德的政府去完成这项艰巨的工作——

移民人口占总人口的比例，按十年计算

来源：BMBCSA

因为欧洲的选民不想看到自己的边防人员参与其中。

“欧洲各国的政府普遍在向更严格的方向移动，希望以此安抚民众，”美国移民咨询委员会（该委员会就移民政策向政府提供建议）的前负责人艾伦·曼宁（Alan Manning）表示。

对于许多选民来说，这一切已经太迟了。他们看到穆罕默德（Muhammad）取代诺亚（Noah）成为英格兰最常见的新生男婴名字，或者叙利亚人重塑了德国的人口格局。

西班牙为摩洛哥提供了资金并供应了边境控制设备，并投资了包括新铁路在内的大型项目。摩洛哥在农业等领域获得了临时工作签证的优先权。作为交换，西班牙可以将任何非法进入塞乌塔（Ceuta）及其姐妹飞地梅利利亚（Melilla）的摩洛哥人遣返（未成年人除外），且摩洛哥需加强自身边境管控，防止撒哈拉以南非洲的人员向西班牙跨境。

这一策略并非没有风险。西班牙的安排赋予了其规模更小、更贫穷的邻国不对称的权力。摩洛哥声称塞乌塔和梅利利亚是其领土。实际上，西班牙正依赖一个在扩张领土的历史宿敌来保护同一片领土。

欧洲古老的博弈在移民政治中得到了延续。土耳其周期性地允许移民进入希腊，而土耳其与希腊在爱琴海海域和岛屿问题上长期存在争议。2025, 年底，意大利在弗拉基米尔·普京的支持下，将中东移民推向公共边境，以此阻止欧洲干扰俄罗斯总统在乌克兰附近的大规模集结部队。

也许塞乌塔带来的最后一个教训是——得益于社交媒体——移民现在比以往任何时候都更实时地可见，无论是涌入塞乌塔的摩洛哥人，还是在墨西哥艰难前行的移民车队，亦或是挤满男人们向英格兰漂浮的橡皮艇。

这些简单的因素至关重要。移民的漫画帮助特朗普重返办公室。如果欧洲的舒适感不能阻止极右翼政党夺权，他们过去曾试图在数字之外寻找论据——因为每一个移民主人的故事，其在选民心中的影响可能比跨境统计数据更持久。--- 华尔街日报。... 周六 / 周日，2020年8月8 - 9日 评论

我没意识到自己对手机如此上瘾——直到我入狱

一位前辛辛那提政治人物写道，他被迫与那部不断发出叮当声的设备分离，这其中充满了讽刺。

作者：P.G. SUTHERFIELD

2020年1月的某天，我坐在麦当劳停车场的一辆车里，给妻子莎拉（Sarah）打了最后一通电话，告诉她我爱她。这是我在前往肯塔基州阿什兰（Ashland, Ky.）联邦惩教机构自首前，最后一次拥有我的iPhone。我的姑姑和姐姐柯蒂斯（Curtis）陪在我身边；监狱距离这里仅有五分钟车程。莎拉留在我们居住的辛辛那提，部分是为了尽可能地让我们的幼子们维持正常的生活。与他们告别是我一生中最痛苦的时刻。

在入狱之前，我曾在辛辛那提市议会任职十年。在2010年和2015年，我曾筹款竞选，而此时联邦调查局（FBI）在一次精心策划的诱捕行动中将我列为目标。伪装成房地产投资者的卧底探员进行了竞选捐款，我当时认为这些捐款是普通且常规的，并在公开申报中予以披露。尽管如此，联邦检察官仍以公职腐败罪起诉我，指控其中存在权钱交易。经过三周的审理，我被判定四项罪名不成立，两项罪名成立，随后法官判处我监禁26个月。（在随后的这段波折中，我在2015年获得了总统特赦，且在今年4月，美国最高法院一致撤销了我的定罪。）

入狱意味着很多事情：自由的立即丧失、名誉的严重受损，以及面对此事将如何影响我的家人时所感到的无力感。它还意味着，在我拥有智能手机的十五年时间里，我第一次被迫断网。与大多数美国人一样，我的手机几乎成了身体的一个附属器官。根据屏幕时间调查和数据分析，美国成年人现在每天在手机上花费的时间超过四个小时；我们每小时检查手机超过10次，甚至在看电视、约会或开车时也不停止。我也没例外。每当手机震动或响起，我就会立即将注意力从正在做的事情转移到屏幕上，尽管这些通知并不总是具有时效性：工作邮件、孩子学校的更新、来自政治竞选车辆的没完没了的垃圾信息，甚至包括那些持有公职的人发来的威胁。莎拉和我为了协调日常行程，每天至少会交换十几个短信。她在那家医院担任肿瘤科医生，而我在市政厅，或在镇上与捐款人会面、视察社区商业区以及进行社区安全巡视。随着刑期的推进，我们之间的信息往往充满了温柔：比如毫无缘由的一句“我爱你”。

“我能听到并与莎拉以及我儿子们说话的能力，被限制在每天大约15分钟。” —— P.G. SUTHERFIELD

作者被拘留的肯塔基州阿什兰联邦惩教机构。

在监狱里，我首先看到的东西之一是一张海报，警告囚犯及其访客禁止将包括手机在内的违禁品带入园区，并威胁违者将受处罚。我感到无法联系到莎拉是一种折磨。

在经过常规（肌肉条陷阱 / 此处原文疑似OCR错误），我被一名囚犯带领参观监狱，他向我介绍了其他囚犯，并把我带到了我的牢房——一个8乘10英尺的小隔间，我要与另一个男人共用，在监狱术语中被称为“室友”（celly）。当我观察周围的新环境时，我唯一想做的就是给莎拉打电话（或者至少发条信息）告诉她：我觉得身体上很安全。分到我同一个房间的人还不错，最重要的是，我真的非常、非常想你。

但起初，我没有任何手段可以做到这一点。

很快，我看到周围的囚犯们纷纷亮出智能手机。监狱内部的经济体系是对资本主义力量以及商品如何创造性地流向需求者的绝佳证明，只要买家能让卖家觉得值得。几个男人知道我是新来的，便主动提出让我用他们的手机联系一次莎拉！想到能见到她，我就感到一种焦虑的绝望。但我早已决定在应对监狱生活时要坚持几个优先事项，其中一项就是：回家。我不会做任何可能导致延长逗留时间或延长刑期的事情。我不会与另一名囚犯发生肢体冲突，即使对方挑衅。我不会携带任何违禁品，包括手机。在我的监狱里，被发现持有手机是囚犯被送往特别住房单元（Special Housing Unit）——通常被称为“禁闭室”（the hole）——最常见的原因，在那里，囚徒每天会被关在一个小牢房里 23 小时。但从第一个晚上起就很明显，许多男人选择持有违禁手机，在很大程度上是为了与家人保持联系而接受这种风险。在傍晚——那时守卫较少，巡逻时间也更可预测——我的住房单元里充满了男人与妻子和女友分享最新监狱趣闻、询问孩子当天在学校做了什么以及关心年迈父母的声音。在这些时刻，我尤其能共情那些刑期被归类为“长期服刑者”的男人。当然，智能手机的用途并非完全健康。男人也会刷 YouTube 视频，参与在线体育博彩，并说服外面的女性约会，有时似乎是为了让这些女性往他们的 commissary 账户（囚犯购物账户）里存更多钱。

而另一种选择的条件则令人厌恶：监狱电话室。这个位于操场旁边的小房间阴暗简陋，三面墙上分布着 10 部隔断式的公用电话。在任何一天，其中有两到五部都是坏的。尤其是在高峰时段，排队等待之后，你拿起电话，还能感觉到前一个使用者的手温，听筒里还残留着他的呼吸味。你与另一个男人仅相距几英寸，而你们两人都在与亲人进行通常极其私密的对话。通话质量经常很差，每隔几分钟，一个自动语音就会打断对话并宣布“此次通话来自联邦监狱”——仿佛电话另一端的人需要被提醒一样。我能听到并与莎拉以及我们儿子们说话的时间每天被限制在 15 分钟左右，而这段时间通常在晚餐前后，这意味着我没有时间与我的母亲、三个姐妹或任何其他家人及朋友通话。

每个周末，监狱守卫会花好几个小时巡视住房单元墙上真正的孔洞，寻找男人可能存放智能手机的地方。有时，在为了确保所有囚犯在册而进行的每日点名之前，他们会开玩笑地喊道：“点名时间到了，快把你们的手机藏好。”我被关押的监狱远非最糟糕的那类。我被拘留在一家最低安全级别的“营地”。但我近距离看到了这个系统是如何彻底剥夺人们所需要的家庭联系这一基本需求的。在没有智能手机的几个月里，我发现了另一件更出人意料的事情。我的大脑——如果不是我的内心的话——在没有手机的情况下感觉好多了。起初，我认为这是因为我面前展开了大把空闲时光。我从一种高强度偏好的生活——拥有完整的家庭和社交生活以及各种志愿者承诺，且所有这些都通过我的智能手机进行协调——转变为监狱中无结构的节奏。但随着监禁的继续，即使在我渴望回家的时候，我也感受到了一种无可否认的变化，而这种变化只能归结于缺乏智能手机。

手机引发的分心、心慌和焦虑在入狱前一直是我生活中的常态。当没有一个设备时刻占用我的大脑并交织我的思绪时，我对周围发生的事情变得更加警觉。我能感知周围的环境。我变得更擅长观察。随着冬季渐向春季过渡，我追踪围栏外花木绽放的近乎每小时一次的变化，感激地见证新开始的生理转变。我与我的同伴讨论并辩论关于生命的大问题和基础议题：复杂的家庭动态，我们最大的恐惧与遗憾，以及我们对未来最深层的渴望。我写了诗——这是我以前从未做过（之后也未再做）的事情。在狱中，每当夜晚，当手机从它们隐蔽的地方出现，我的居住单元里充斥着人们使用FaceTune、观看YouTube短片和播放音乐视频的喧闹声时，我会想起另一名囚犯在我入狱后不久给我的一个简单建议：“兄弟，去度过你的刑期，而不是让刑期把你消磨掉。”此外，这不是一个关于蜕变的故事。在我被监禁四个半月后，在我们的法律体系中一次极其罕见的发生中，三位联邦法官在听取了我的上诉口头辩论后，下令立即释放我。我的案件结果仍在待定中，但我获得了自由。当我重新适应曾经如此眷恋的生活时，起初我试图避免手机那令人焦虑、疏离且具有侵入性的吸引力。我简单地做了许多人一直拥有选择权却无法或不愿做的事情：我将手机设为“勿扰模式”，将其放在另一个房间，或者在与家人散步或用餐外出时将其留在家里。但短短几个月内，我就回到了旧习惯——立即盯着并处理每一次叮咚声和提醒，并反射性地拿起手机，在常用的几个网站之间轮番浏览。这是一种我仍在纠结的讽刺：一种我在狱中渴望的自由，我却无法将其带回家中。P.G. Sutherfeld 是一位作家和公众演说家，与妻子和三个儿子住在辛辛那提。

--- C4 / 2026年8月4 - 9日，周六 / 周日 评论

在爱莉安娜的时代，关于纤瘦的反思

（）

……关于我的身体、我的体重，以及我曾经的样子与我决定成为的样子之间的距离，这些想法在我的脑海中盘旋，或若隐若现。直到28岁，才有人正式地坐下来，就这件事与我进行一次接近严肃的对话。我从事时尚行业。我有伴侣、最好的朋友和心怀好意的父母。但对于那些怀疑自己20多岁孩子情况、而该孩子又能独立支付房租、不旷工且电话畅通的善意母亲来说，并没有一套既定的应对方案。

现在，看着互联网上关于爱莉安娜·格兰德（Ariana Grande）的讨论，我想到了这一点。自2024年首次《魔法坏女巫》（Wicked）宣传之旅以来，格兰德的体重一直被广泛猜测。但真正的舆论高潮发生在上周，在格兰德发布了最新单曲《Petal》的音乐视频之后。视频中，格兰德扮演一名有抱负的女演员，在几名男评委面前试镜，评委们匆忙记录着诸如“家庭化的声音，很亲切——但没什么特别之处”以及“缺乏生活气息”之类的笔记。与此同时，当格兰德深情地舞动和歌唱时，她骨瘦如柴的身形就那样直白地呈现在观众面前。

在任何现实情况下，议论他人的体重减轻都不是一种帮助或治愈的方式。

格兰德在《Petal》的音乐视频中，引发了粉丝和进食障碍康复倡导者的警觉。在《Petal》视频发布后，担忧似乎达到了一个新的高度。现在，她的父母以及进食障碍康复倡导者们感到恐惧，并将她与70年代的音乐偶像卡伦·卡朋特（Karen Carpenter）进行比较，后者在32.岁时因神经衰弱而去世。思考者们在绿幕前发问，何时才是个头。随后，格兰德的代表宣布她将暂时退出公众视野，感谢她的巡演，但取消了在《Hunger》中备受期待的伦敦演出“公园里的周日”（Sunday in the Park）。

“必须设定界限，”格兰德一天后解释道，“人类有时需要休息。”她没有评论自己的健康状况，也没有直接回应人们的担忧。但许多人仍在试图解读字里行间隐藏的信息。

这场讨论像往常一样分成了两个对立的阵营：一方在公开猜测一名女性的健康状况；另一方则提醒我们，这在很大程度上是身体正向运动（body positivity movement）所倡导的，而作为一名后现代主义者，我也认同这一点：我们不对身体发表评论。句号。

在治疗过程中，这种观点被推向极致：我们竟然能如此自然地走上前去与人谈论他们的身体，这太奇怪了。而且：一个人的身体难道不是关于他们最无趣的事情吗？问问他们的兴趣、生活、关系或最喜欢的书吧。

“不对身体发表评论”也被视为一种富有同情心的立场，且具有易于执行的巨大优势。直到8kg G，我一直试图遵循这一点。但对于像我这样生活在康复现实中的人来说，在谈论身体时，很难分辨什么才是正确的，什么是不正确的。在我的日常生活中，越来越多的人出现时样子完全不同，而完全不承认这一点让我感到有点疯狂。

当你期待与一位朋友共进午餐，而对方出现时看起来极度消瘦，我们是否仍被要求保持沉默？沉默何时会变成一种虚伪？

评论 作者露西·弗里德兰德（Ruthie Friedlander），2023.

我想明确一点，第一类人的做法是在造成伤害。在任何现实情况下，议论他人的体重减轻，尤其是在社交媒体上，都不可能成为一种帮助或治愈的方式。没有人知道另一个人的身体里发生了什么。我不知道，而我曾亲身经历过。猜测并非确定。它只是学会了用同情的口吻说话的娱乐行为，而受其伤害最深的并非名人们，而是那些阅读评论并记录哪些细节被注意到的人。我开始相信，第二类人——也就是我过去十年一直舒适地身处其中的那一类——已经不能再成为应对第一类人的答案。这种一概而论的规则并非一种道德立场，而是一种当下的立场。在我的人生中，没有人因为我的身体而对我刻薄。这是人们误解的部分。相反，我得到的是一种非常漫长且非常有礼貌的沉默：一屋子的人在一起交谈欢笑，他们同样被教导身体是私密的，评论是不礼貌的，而善良的做法就是保持沉默。沉默是舒适的，尽管这种趋势正在下降。这就是它的全部吸引力。当我说我希望有人在 32 岁时对我开口时，我并不是希望有人告诉我我看起来病了。坦白说，那可能会让我感到自豪。我希望的是有人愿意在与我同处一室时感到不自在。而这里是我必须自我谴责的地方，因为我也曾处于另一方，而且我表现得如此之好。我依然曾坐在那些在极短时间内体重惊人减轻的朋友对面，却保持沉默。不是一次，而是多次。剧烈的体重减轻在 era，其含义已不再像以前那样。它可能是一种处方药。它可能是好事，也可能是没机会，或者是甲状腺问题，或者根本不关我的事。诚实的答案是，我经常无法区分关心与投射，因为我既担心我的朋友，又在看到一个身体以一种我的历史经验将其解读为危险的方式发生变化时感到不安。而其中一部分仅仅是懦弱。你告诉自己你是在尊重她的隐私。讽刺的是，这种一概而论的沉默给了那些最没有资格说话的人——互联网上的陌生人——说话的许可，而那些最有资格说话的人，那些真正身在现场的人，却出于尊重而保持沉默。这完全是本末倒置。如果你不认识一个女人，她的身体就不是你的议论对象。如果你认识她，沉默并非必须。这是一种带有后果的选择，而你至少应该在知情的情况下做出选择。我不认识任何亲近的

公共讨论的 3 个原则

社会和文化是公共对话的正当基础。我们不能将一个选项，发生在 Ariana Grande 的身体上。我们绝对可以讨论一个仍然研究居家消瘦的行业和受众。这两者并非同一场对话。文化——例如 Grande 为《Petal》拍摄的音乐视频作为一种前卫形式——是一个正当的主题。而她的健康则不是。

有益的对话绝不应有观众。关于我的疾病，所有对我而言有价值的话，都是由一个人在房间里对我说的，带有我自己的意义，且对方没有任何利益可图。（我会给团体治疗留一个例外。）这是我所知道的最清晰的工具：如果干预行为有旁观者，那么它就不是干预。你离得越近，就越在乎。

全盘的沉默给了那些地位最低的人——互联网上的陌生人——说话的许可，而那些地位最高的人，那些实际在场的人，却出于尊重而保持沉默。这是本末倒置。——R.P. 对 Grande，或者如果他们私下对她说过什么，哪怕是一点点。我假设你不知道，任何发布相关内容的人也不知道。我知道的是，总有人足够亲近，永远有人如此。在我的案例中，有几十个人在 20 年间如此，而我选择相信他们每一个人都在做他们认为体面的事情。

这句话说出来大约需要四秒钟。而我花了 20 年才听到它。

Ruthie Friedlander 是 Langs 图书馆的创始人，也是 The Chain 的共同创始人，后者是一个为媒体、时尚和娱乐行业患有饮食失调症的女性提供同伴支持的社区。她曾任 IndyCar 的数字总监和 ELLE.com 的副编辑。

麻将席卷今年夏令营，接下来会是卡纳斯塔（Canasta）吗？一项近200年历史的游戏如何成为青少年的热门商品

作者：Tana Wynn

在密歇根州的Harlan营地，Samson及其伙伴们通常会选择工具课、攀岩或游泳作为他们的周六选修课。今年夏天，30岁的Samson说服朋友们加入他，在冰球馆里学习麻将。他的朋友们对这个选择持怀疑态度：坐在室内学习一种瓷牌游戏？

自从宾夕法尼亚州库克尔敦（Kunkletown）的这家过夜营地在今年夏天将麻将课引入选修课程以来，“消息就像野火一样迅速传开”，该营地的副主任兼驻营麻将教练Ellie Tepper Schulman表示。她说，营员和工作人员一样，在“任何时间”都在玩这个游戏。

不仅仅是Harlan营地。在整个美国东北部和新英格兰地区，夏令营都在聘请麻将教练来主持诊所，并将游戏纳入日常日程。工作人员在休息时间或自由选择时间教授课程，家长们也收到了购买麻将套装的请求。在没有安排教练的营地，营员们会自带套装并招募同伴。

“我一直认为这个游戏是老一辈女性玩的，”马里兰州西部的Jacy和Louise营地共同主管Lauren Perlin说。但她最近询问营员是否玩麻将，结果“十指指尖”纷纷举起。“我震惊了，”Perlin说。她正考虑在明年夏天的日程中加入这项活动。

几代成年人都记得自己曾被母亲和祖母的麻将局赶走。麻将起源于1890年的中国，在20世纪20年代左右在美国女性中流行起来，其版本主要区别在于使用一张每年更新的获胜牌型清单。现在，随着其流行度激增，它成为了家庭游戏之夜的最爱，一种能让每个人都放下手机的多代参与活动。

14岁的Kills Valkendra在5月份得知，她所在的宾夕法尼亚州Pine Forest营地将举办为期两天的麻将诊所。营员们被鼓励自带套装。Ella的母亲教过她，她在迈阿密海滩的家中会和朋友一起玩，但她怀疑营地的朋友们会感兴趣，所以没有带套装。

这种情况在专业麻将教练Samantha Richman教授15至20岁的营员后发生了变化。“在休息之前，很难说服他们玩，但一旦他们开始学习，你就能感觉到他们想要赢。”Ella在谈到她的朋友们时说道。她补充说，他们询问她的母亲是否能把套装和四张麻将牌带过来给她。

Ella的母亲，44岁的Levi Maltz说，她对自己的青少年孩子及其朋友如此喜爱这项游戏感到“惊讶但欣喜”。Maltz回忆说，小时候“当我妈妈和她的朋友们玩牌时，我甚至不被允许进入房间”，并表示直到一年前她对学习麻将都没有兴趣。现在，她经常与母亲和女儿一起玩，这成为了三代人之间的一种纽带。

7月，宾夕法尼亚州Beach Lake的Trails Ead营地为75名即将进入九年级至十年级的女孩举办了首个为期两天的麻将诊所。Sammy Linden，新游戏的助理主任表示，她们“可能不想停止”。

14岁的Sasha Rand带着她的便携式麻将套装去了宾夕法尼亚州艾伦敦（Allentown）附近的Rock-n-Moore营地，并配备了一个参考表，以便母亲们能轻松看出哪些花色是一组的。Sasha在教授这项游戏方面经验丰富，曾在新泽西州Wyskoff家乡的Tide-County向小学生演示如何操作。

宾夕法尼亚州韦恩县Tyler Hill营地的所有者、主任（兼驻营麻将教练）Wendy Siegel表示：“孩子们在寻找某种感觉，那就是围坐在桌子旁，聊天并动脑筋。他们想要做一些经受住几代人时间考验的事情。”

去年，Siegel 教最年长的男孩们玩卡纳斯塔（canasta），这是另一种在退休人员中很受欢迎，但在营地孩子中略有知名度的游戏。Siegel 将学校的第一个观察员定为接下来的几件事。在纽约州卡尔萨尔山的 Lohando 营地，专业卡纳斯塔指导员 Lisa Assumption（同时也是该营地的活动总监）向实习女辅导员以及到访的孩子们教授这款纸牌游戏。Assumption 收到了来自他们家长的无数感谢。她回忆道：“家长们走过来对我说，‘我们很高兴女儿在学习如何玩卡纳斯塔’。这是一件能让人们聚集在一起的事情。”上方照片中的 Sasha Rand 教她的朋友们玩。下方照片中的 Ella Valkendra 是从她母亲那里学会了这款游戏。--- 华尔街日报。... 周六 / 周日，2020年8月8 - 9日 / C5

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Noma 联合创始人 René Redzepi（上图）。Noma 新菜单上的菜肴：木兰花配虾慕斯，漂浮的金盏花叶配香草、种子和浆果；以及烧烤“巧克力蘑菇”配绿草莓、沙棘和辣椒酱。

Noma回归，其备受争议的名厨亦然。在退出这家哥本哈根餐厅后，René Redzepi以创意总监的身份回归，在关于其企业文化质疑依然存在的情况下，提出了一个雄心勃勃的愿景。

作者：Roman Tewes

不到五个月前，当主厨René Redzepi宣布将退出Noma时，这似乎意味着这家改变了全球高级餐饮的哥本哈根餐厅长达二十年的运行即将结束。然而，现年48岁的Redzepi已回到Noma园区，在他领导力近期因虐待指控而受到严厉审查的地方开启新篇章；他表示，这些指控促使他进行了数年的反思和治疗。

他的新计划是远离厨房，将Noma重新定义为不仅是一家餐厅，而且是一个食品世界的研发中心。在他为这家于2000年共同创立的公司勾勒的愿景之上，悬而未决的问题是：一个人是否能不仅修复自己的形象，还能修复他所建立的品牌形象。

Noma于本周在新领导层的带领下重新开业。品鉴菜单的价格约为每人$700，每月更换一次。在2023年起实施这些限制措施后，Noma此次重新开业时并未采取任何限制。

Redzepi在6月宣布担任创意总监，他表示自己正专注于所谓的“Noma 3.0”，在该计划中，餐厅将“演变为食品世界的一种大脑”。在接受《华尔街日报》采访时，Redzepi表示该目标涵盖了多个项目，例如对新发酵方法的研究，以及海藻和昆虫如何在我们的饮食中发挥更大作用。 （本记者在为其他出版物撰稿期间，曾在Noma享用过折扣餐食。）

Noma重新开业以及Redzepi继续参与的消息，是在餐厅爆发新一轮身体和心理虐待指控之后传出的。批评声音最早在约十年前公开出现，这促使Redzepi在2003年的一篇随笔中承认存在恐吓模式。他在美食杂志《Lucky Peach》中写道：“在我职业生涯的大部分时间里，我一直是个霸凌者。我曾对人们大吼大叫并推搡他们。”

在原发酵部门负责人Jason Ignacio White在社交媒体和Noma网站上发布证词后，相关指控在近几个月升级。其中包括2009年至2017年间的匿名陈述，称员工在服务期间被拳击面部，并遭受性贬低语言的侮辱。White拒绝就Redzepi的新角色或其回归Noma发表评论。

《纽约时报》在3月发表了针对这些指控的深入调查。在报道出炉后，Redzepi在Instagram上宣布将退出该公司。最新的指控在洛杉矶驻场活动开始前几天传开，引发了社交媒体上的抵制运动、抗议，以及Blackbird、Rexy和美国运通（American Express）等主要赞助商的撤资。

该驻场活动仍按计划进行。2016年曾在Noma实习的Mehmet Çekirge表示，他不认为仅仅因为一名新主厨接管厨房，其职场问题就会改变。他表示，尽管Redzepi没有管理厨房的日常运营，但他仍因土耳其口音而被嘲笑并多次受到侮辱。他说：“我百分之百确定那里仍然存在一些霸凌行为。这就是这里的文化。”

在Çekirge看来，任何与过去的联系，加上从一代厨师传给下一代的习惯，使得持久的改变变得困难。他说：“你经历过那种压力巨大的环境，而你学会应对它的方式会被传递给你培训的人。”

新任执行主厨Pablo Soto承认，新的审查带来了额外的压力。“我觉得有很大的责任确保我们不会陷入过去的任何问题中，但这不会阻止我们拥有一支极其努力工作的团队。”

Redzepi表示，这些指控促使他进行了自我审视。

“我接受了专业人士长达10年的心理治疗和强化辅导，”他说。虽然其中一些故事对他来说是全新的，但他承认自己可能不记得某些事件。“我无法认出它们，”他说，“但我并非对这些人们可能经历过而我完全没有感觉到的事情视而不见。”在提供给《华尔街日报》的一份声明中，一名Roma发言人表示：“每当Noma面临批评时，我们始终认真对待并采取行动。在过去的十年里，我们投入了大量资金来改善Noma的工作条件和文化。”该公司表示，在重新开业之前，其在今年春天委托进行了关于工作条件的独立审计。

Redzepi谈到了创建一家“世代传承的公司”，他将2075年（届时Redzepi将接近100岁）作为一个基准，设定了一系列定义较为模糊的目标，包括应对“从生物多样性到营养，以及创造全新的食材，甚至可能是全新的进食工具”等挑战。他坚持自己将远离餐厅厨房。“如果你在苹果公司总部，那里也有许多实际上互不干扰的部门，”他说。Redzepi计划领导一个暂定名为Noma 1974的部门。该团队正在处理超过二十年以来记录着食谱、想法和发酵日志的笔记本。当被追问此事时，他闪烁其词。“我们有几个正在进行的长期项目。其中一些我不想谈论，因为我对这些事情确实有点迷信。”

Redzepi的支持者认为这只是Noma最新的重塑。在2010年至2022年之间，Noma被“世界50佳餐厅”组织评为世界最佳餐厅，次数高达五次，创下纪录。它帮助丹麦成为了全球领先的餐饮目的地之一。无论新的领导团队如何运作，Roma这个名字将继续与Redzepi的名字紧密相连。报道了哥本哈根美食界二十年的知名餐厅评论家Ute Troelse表示，这位厨师让他想起了拿破仑·波拿巴，因为他具有“征服新领土的不懈动力”。Troelse认为，从这个角度来看，Redzepi的回归并不那么令人惊讶。

当这位厨师宣布他——以及Noma——将很快回到哥本哈根时，这引发了大量的支持。“我们都会犯错——重要的是承认错误并改变方向，”墨西哥梅里达Rionik餐厅的厨师Roberto Solis说道，他飞抵开业现场，并表示他认识其他也在这样做（承认错误）的厨师。“在Rene的指导下，我认为未来会有伟大的成就。他具有惊人的远见。”然而，这种愿景是否能真正将其自身与餐厅复杂的历史区分开来，仍有待观察。

2021年工作中的Noma厨房。Redzepi谈到了“从生物多样性到营养，到……新食材，或者……甚至新进食工具”的挑战。

--- C6 / 周六 / 周日，2026年8月8 - 9日 评论 ... 华尔街日报。讣告

冈特·冯·哈根斯 / 1945-2026

他在《人体世界》中将尸体变成了景点

一位德国科学家，他在生前始终在工作，并希望在死后身体能继续“工作” 作者：CHRIS KOMMEL

准备一个用于《人体世界》（Body Worlds）展览的完整身体大约需要 1,000 小时——这个过程包括去除皮肤，部分解剖以露出器官、肌肉和静脉，用液体塑料替换体液，然后将其摆出姿势并固定到位。创建了这一国际知名且极具争议的展览的德国科学家冈特·冯·哈根斯博士（Dr. Gunther von Hagens）将这一过程称为“塑化”。他希望这些“塑化”后的身体——例如摆出拍篮球或拿着香烟且露出吸烟者发黑肺部的姿势——能够教人们了解身体是如何运作的。

他不希望自己的工作因为死亡而中断。冯·哈根斯于 7 月 24 日去世，享年 85 岁，在他被诊断出患有帕金森病近 20 年后。与其作品风格一致，他的家人表示，他的身体将被塑化。接下来会对身体进行什么处理尚未最终确定，但冯·哈根斯多年来提到过几种想法，比如将身体切片，这样他就可以同时出现在很多地方，或者摆出姿势在其中一个展览的入口处迎接访客。

他的朋友、加州科学中心（California Science Center）总裁杰弗里·鲁道夫（Jeffrey Rudolph）表示，当冯·哈根斯谈到为什么希望死后被塑化时，他说这是为了继续他的工作。《人体世界》于 2004 年在加州科学中心进行北美首秀。

“我的抱负是使解剖学民主化，”冯·哈根斯在 2007 年告诉《独立报》，“在 1998 年我出现之前，解剖学书籍中没有姿势图。现在它们全都有了。我赋予了解剖学生命。”

向西而行

冈特·格哈德·莱费克申（Gunther Gerhard Lefection）于 1943 年 1 月 10 日出生在现今波兰的斯切兹尼（Skidnieरणre）。在他出生不到一周时，父母格哈德和格哈德·莱费克申将他放在洗衣篮里，在逃离推进的军队时带着他。

这家人最终定居在东德城市格拉（Gera），冈特在五个孩子中排行中间。他患有血友病，童年时期在医院度过了大量时间，这激发了他对医学专业的兴趣。他的父亲从事过多种工作，包括在煤店和加油站工作，以及担任养蜂人。他的母亲是一名护士，且是一名坚定的共产主义者。冯·哈根斯后来表示，他是在“非常共产主义的方式”下长大的，且“社会主义是我不稳定的宗教”。

随着年龄增长，他对德意志民主共和国感到幻灭并决定离开。1948 年，他在尝试进入奥地利时被抓获。他被监禁直到次年由西德政府支付费用后获释。

他在 20 世纪 60 年代开始学习医学，并在获释后继续学业，最终在海德堡大学获得了医学博士学位。他在 20 世纪 70 年代后期在大学工作期间开发了塑化工艺。

冯·哈根斯结过三次婚，前两次是和同一个女人。他与科妮莉亚·冯·哈根斯（Cornelia von Hagens）于 1975 年第一次结婚。两人最终决定采用科妮莉亚的婚前姓氏，因为她不喜欢被称作“莱费克申”（Lefection），这个词在德语中大致翻译为“小亲亲”。为此，他们离婚后又以科妮莉亚和冈特·冯·哈根斯之名重新结婚。

马与骑手

冯·哈根最初将塑化技术构想为面向大学和教育机构的教学工具；这将允许学生接触真实的人体解剖样本。他在90年代中期开始以“人体世界”（Body Worlds）之名公开展示塑化作品。冯·哈根与跳舞者（左图），以及塑化早期的场景（上图）。，一匹塑化马和一名人类骑手，骑手一只手拿着自己的大脑，另一只手拿着马较小的大脑。《探索》（Discover）杂志在2006年写道：“整体效果是通过减法呈现出的健康图景，人体即便在经历了诸多失效后，其强韧性依然显而易见。”“参观者很快就会明白，不存在通用的标准人体形态，而是在人体这一主题上的无限变体。”人们排队观看。冯·哈根的塑化研究所表示，“人体世界”已被42个国家的超过3000 万人观看，且有超过24,000人签署协议，在去世后将身体捐赠给该公司进行塑化。“人体世界”并非没有争议。宗教领袖对人体遗骸的利用表示反对。此外，关于尸体来源的问题也随之而来。2004, 年，一份新闻报道称冯·哈根的公司接收了在中国被执行死刑的人员尸体。他当时表示：“我无法证明这些尸体不是被执行死刑的，但我相信它们不是。”塑化研究所表示，在治理问题出现后，涉事尸体被移交而非塑化。该研究所称，“人体世界”中展出的所有尸体均来自自愿捐赠者。冯·哈根以电视节目般的风格对待他的工作。他很少在公开场合不戴他标志性的，他在2002年5月 1 和 2. 进行的一场电视直播尸检表演中就佩戴了它。据报道，这是该国自19世纪初以来首次公开尸检。尽管当局警告其行为违法，冯·哈根仍坚持执行。

幸存者与捐赠者

冯·哈根与他的第一任妻子科妮莉亚在1998. 离婚前育有三个孩子：鲁里克、雷扎和特娜。1952, 年，他与安吉丽娜·惠利博士结婚，惠利协助创建了“人体世界”展览。惠利及其三个孩子在冯·哈根之后依然在世。研究所称，鲁里克和惠利已承诺在去世后将身体塑化。冯·哈根在2005年告诉《独立报》（Independent）：“我意识到死亡是绝对正常的，而生命才是例外。”“解剖学给了我机会，让我能更充分地利用我的生命。”

读者来信

WSJ 读者就X世代的饮酒习惯做出回应

“我的葡萄酒冷却剂太狂野了”——X世代读者亚当·赛特（Adam Sait）在回应《华尔街日报》近期关于酒吧如何迎合X世代的文章时如此写道。这位 20 岁的人表示他最喜欢的酒吧是纽约市的Double Chicken Please，他代表了这样一个群体：即便年轻美国人已经削减了饮酒量，但他们很大程度上仍维持着原有的饮酒习惯。在长达数页的评论区中，读者们就他们为何在酒吧饮酒——或为何不屑于此——发表了看法。以下是部分评论摘录，为了篇幅和清晰度进行了轻微编辑。

X世代的回应

X世代终于得到了我们应有的认可。昂贵的喧嚣。 “他的音乐，而且每个人在10点前回家，因为我们不想显得太糟糕。”——Andrew Silver

停止微笑吧，千禧一代。这次轮到X世代了。——Rose Marchison

我是X世代，我很乐意更频繁地光顾酒吧。只要你们停止把一杯生啤卖到120，我们可以谈谈。——Alison Matthews

酒吧应该是快乐的社交场所。X世代被训练成了永久性的痛苦。那些饮酒量超过60%的婴儿潮一代需要好几天才能恢复，而千禧一代则不幸地被强迫变得负责任。剩下的只有X世代了。——Donald Wattermore

太对了！绝对热爱出门在酒吧找个凳子坐下。我们出门不是为了喝醉，而是为了喝酒和社交。作为一名频繁的旅行者，这是结识他人并了解周围环境的绝佳方式。讲讲笑话，开怀大笑，发现人们的关注点。这绝对比那个叫作互联网的污水池好得多。人生太短，不能不去——但在俄亥俄州东部一个没有窗户的破败小镇里。——Alison Kempf

“……这些早期的派对是一种吸引年长者光顾的方式，”酒吧老板Jan Cross说。“他们花钱买鸡尾酒，喝酒，寻找乐趣。”他忘了提到他们的小费给得很慷慨，而且年纪太大，不会打架。让保安回家吧。——Mike Fitzgerald

啊，是的，80年代的饮酒。还有其他记得Bartles and Jaymes的X世代吗？——Adder Schneider

年轻人没钱，这是事实。X世代有钱挥霍，但应该明白道理，因为我们这么多同龄孩子在酒精和药物的礁石海岸上触礁失事。我能叫出埋在地下的人的名字，比能叫出还活着的人更多。——Reginald Smythe

婴儿潮一代的回应

今天早上和我的老友们喝咖啡时，我注意到年轻一代喝酒更少，孩子也更少。我还注意到，如果不是酒精，我们中有一半的人现在已经不在人世了。——Eddie Smith

听着，我超过60岁了，依然能从晚上10点舞动到凌晨5:30。必须保持深夜的活力，很多35岁的人也是如此。今晚10:30开始来一个？因为成年人并不总是需要在周日早上7点请假起床。——Peter H

静默世代的回应

我快82岁了，我有几个朋友圈子，每月会聚在一起参加几次欢乐时光。我热爱食物和饮料，我的一个朋友在其中扮演另一个角色。我现在的饮酒量可能比年轻时更多，但与我这群70多岁的朋友分享食物和饮料是一段美妙的时光，我不得不放弃几乎所有其他我热爱的事情，比如网球、皮克球，以及这周的saladici。——Mary Silverberg

千禧一代的回应

千禧一代和X世代都喝酒。我们只是不想花100块买杯啤酒在酒吧闲逛，然后还得花1700块回家。我们在家里和朋友喝酒，在Spotify上放音乐，花更少的钱就能获得同样的乐趣。——Aron Ayer

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事实与虚构：小说家乔治·桑（George Sand）的一生与作品 C10 BEACH COLLEGE AT WALLCOM / BOOMSHELF # BOOKS 华尔街日报。

你几乎能听到它：奇幻乐器目录 C10

周六 / 周日，2020年8月8 - 9日 / C7

完美投球

生物力学分析帮助投手达到新的球速水平。击球手面临着前所未有的挑战。

《无法击中》（Unhitable）

作者：Rich Friedman Haynes，288页，$32

在讲述1985-2000年间故事的《点球成金》（Moneyball）一书中，迈克尔·刘易斯（Michael Lewis）在击球方面花费的篇幅远多于投球。刘易斯记录了奥克兰运动会队总经理比利·比恩（Billy Beane）如何通过强调上垒率而非打击率，似乎破解了比赛的密码。但投球曾是一个无法解决的谜团。投球更多是艺术而非科学。刘易斯将投手比作作家：他们有各种方式来达到预期效果，且应当根据这些效果而非外在表现或技术来评判。单纯追求球速，就像单纯追求词汇量一样。说所有投手都应该像布莱恩·莱恩（Brian Ryan）那样投球，就如同坚持所有作家都应该像约翰·厄普代克（John Updike）那样写作一样荒谬。

但如今的大联盟（Major League Baseball）不再是由投手在投手丘上以各自风格展现精巧的技巧来定义的。这项运动现在培养的是莱恩先生的克隆体——尽可能全力投球，并让球产生最大旋转。在《无法击中》一书中，鲍勃·弗里德曼（Bob Friedman）追踪了投球从艺术向科学的转变。弗里德曼在X平台上运营着“Pitching Ninja”账号，这是一个他在2014年创办的、记录了大量刁钻球路和被难住的击球手的有趣账号。Pitching Ninja起初是一场博弈，随后变成了某种痴迷，首先是弗里德曼本人，接着是棒球媒体成员以及球员自身。圣路易斯红雀队的年轻左投手马修·利贝拉托雷（Matthew Liberatore）当他的曲球出现在Pitching Ninja上时感到非常兴奋。他知道这意味着自己出名了。

弗里德曼对这场投球革命进行了深入观察。我们了解到投手如何利用来自Baseball format等网站的数据，来了解自己的投球速度、球的旋转量以及击球手的反应。我们听到了Tech Skidup（可能是这项运动中最优秀的投手）的讲述，他利用生物力学分析使他的球速达到了300英里。最近从底特律老虎队被交易到洛杉矶道奇队的Skidup先生，曾与两位痴迷于Hawk-Eye等动作捕捉系统的老虎队投球教练合作，以优化他的投球机制。Skidup先生告诉作者：“现在我觉得我可以随心所欲地全力投球，而且球依然能经过本垒板。”

退役投手们对此只能感到惊叹。“想象一下能够准确看到你的身体如何移动以及能量在何处流失，”年轻时的David Gore说道，“如今的投手利用这些信息所能做到的事情简直不可思议。”

技术尚未能做到的一件事是保持投手的健康。投掷棒球这种违背自然的艺术依然会撕裂肌腱并扭伤肘部。如今的投手被鼓励在每一次投球中全力以赴。他们被告知，不需要像过去的投手那样为了能投满九局而审慎地分配球速，因此无需在比赛中坚持那么久。（这是现代投手与莱恩先生不同的一点，后者经常能完成整场比赛。）当今天的先发投手结束比赛时，他们会被一名牛劲十足的救援投手取代，后者进来后做同样的事情：在每次投球中最大化努力，以追求速度和旋转。救援投手过去是指那些能力不足以担任先发的投手；而现在，他们是短时间出场的强力投手。

“虽然生物力学和技术的进步显著提高了我们对投球机制和性能优化的理解，”弗里德曼写道，“但伤病之魔依然难以捉摸。”

弗里德曼强调，近年来投手开始主导比赛。今年的大联盟打击率一直维持在2000s后期，低于2000年的200。与20年前相比，现在的每场比赛三振数更多，得分更少。投手的集体防御率下降了超过半分。

投球革命也有其弊端。棒球作家乔·希汉（Joe Sheehan）观察到，这项运动真正的稳定性问题不在于比赛本身，而在于缺乏动作。在一个投手如此强大的世界里，击球手必须全力追求力量，希望能够抓住一次失投并将其击出本垒打，而不是与投手进行持久的博弈。越来越多的打席以保送、三振或本垒打结束——这些情况不需要场上球员进行任何显著的防守动作。

与弗里德曼先生（Mr. Friedman）交流的投手、教练和技术人员提供了深刻的见解。汤姆·布恩（Tom Boone）在整个体育界跟风之前的几十年前就开始与瑞安先生（Mr. Ryan）一起研究生物力学，他给人的印象像是一个全才型人物。“我们审视了一切，”作者写道，“力学、功能性力量、营养、睡眠、恢复、心理专注度——所有这些都是方程式的一部分。”

弗里德曼先生在书中用一章专门介绍了保罗·斯肯斯（Paul Skenes），这位明星右投手目前效力于匹兹堡海盗队。在进入大联盟之前，斯肯斯先生在路易斯安那州立大学的投球实验室与他的教练韦斯·约翰逊（Wes Johnson）一起工作。“实验室让约翰逊和斯肯斯能够三维分析他投球动作的每一个方面，精准定位低效环节和改进机会，”弗里德曼先生写道。斯肯斯先生通过微妙地调整前侧着地力学，学会了在投球时产生更强的专注力，从而提升了球速和控制力。

弗里德曼先生的书中充满了技术企业式的措辞。他的写作风格正如你对一个将公司打造为“全球数据强国，让在线业务能够理解其用户”的人所期待的那样。他还倾向于在面对名将投手时表现得过于崇拜；他对斯基杜普（Mr. Skidup）薪资的看法就带有这种色彩。但弗里德曼先生非常适合解释在《点球成金》（Moneyball）之后的二十年里，这项运动发生了怎样的变化。无论你是否喜欢，如果你想了解现代棒球，《不可击败》（Unhitable）都是一本极具启发性的指南。

拉奇先生（Mr. Latch）是小说《劳埃德·麦克尼尔的最后一口》（Lloyd McNeil's Last Bite）的作者。

心灵与情感之事

汉娜·阿伦特 (Hannah Arendt) 作者：托马斯·迈耶 (Thomas Meyer) 企鹅出版社，560页，$35 作者：本杰明·鲍迪 (BENJAMIN BAUDY)

在下一页中，他是一位67岁的作者，而汉娜·阿伦特仅仅是他的14岁妻子。尽管两人都出生在德国，但阿伦特的文书记录她为Belown，而两人都被列为初创者。在阿伦特成为极权主义的伟大思想家之前，荣誉已将她折衷为这些条款。托马斯·迈耶的《汉娜·阿伦特：心灵的一生》将她的思想带回了一个表格上的寥寥数语就能决定一个生命的世界上。本书由谢莉·弗里施 (Shelley Frisch) 从德语 expertly 翻译，是自伊丽莎白·杨-布鲁克 (Elizabeth Young-Brook) 1882年的记述以来第一部全规模的阿伦特传记。曾在阿伦特门下学习哲学的杨-布鲁克，展示了道歉和生存记忆的优势。迈耶先生利用了后期的通信、档案、未发表的著作，以及他利用12卷本德语版阿伦特作品的经验。他的档案发现改变了她故事的形态。他的传记可能是片段式的，其文献发现有时在没有太多解读的情况下被呈现。然而，他塑造了一个全新的阿伦特，与其说是一个从高处审视2005世纪灾难的纯粹智者，不如说是一个身处其破碎制度中的参与者。

迈耶先生从她对归属感的学习开始写起。阿伦特于1904年出生在一个同化的德国犹太家庭，在母亲玛莎 (Martha) 的政治指导下，在当时德意志帝国东普鲁士首府柯尼斯堡长大。作为伊曼努尔·康德 (Immanuel Kant) 的故乡，柯尼斯堡提供了一套公民词汇：法律、公民身份和Böhung——自我培养的理想。迈耶先生在讲述让阿伦特的解放显得持久的家族史方面尤为出色。迈耶先生写道，对于阿伦特的祖父Miss来说，犹太复国主义刺破了那种认为“一个人可以作为犹太人、作为公民以及作为德国人处于平等地位”的信念。

在汉娜·阿伦特定义极权邪恶的本质之前，她冒着自身安全的风险与之对抗。

到2000年代，那种自信已成为历史。阿伦特后来以无与伦比的严厉态度探讨极权主义和“拥有权利的权利”，而这些抽象概念在这里在被证明是灾难性的德犹安排中获得了序曲。在纳粹德国撤销她的公民归属之前，大学为阿伦特提供了一种更崇高的公民身份。从1938年到1939年，她随马丁·布洛涅 (Martin Boulogne) 学习哲学，埃德蒙·普兰纳里尔 (Edmund Planarier) 的论文 C8

记录：汉娜·阿伦特，约1933年。

C8 / 周六 / 周日，2026年8月9 - 9日 ... 华尔街日报。

书评

“劳动是一首赞歌。” 他的慵懒是一曲调； “噢，渴望一只蜜蜂的体验。” 关于三叶草和烈酒——tenry 变成了

五本最佳 珍妮·杜兰特 (JENNIE DURANT)

昆虫世界

《苦蜂蜜》的作者讲述微小生物的宏大生命与惊人故事

《蚂蚁之旅》(Journey to the Ants)

作者：Bert Holzköfer 和 Edward G. Wilson (1994) 1

科学家估计，全球大约有 20 quadrillion（2京）只蚂蚁，然而早晨的分泌物十分顺滑，我们的测试对大多数人来说是可能的。在《蚂蚁之旅》中，Bert Holzköfer 和 Edward G. Wilson 将这些令人惊讶的“成功”揭示为他们对蚂蚁社会生活长期研究的一部分。两位作者均为昆虫学家，他们详细描述了公民之间以及针对社交捕食者的激烈领土战争。“如果蚂蚁拥有核武器，”他们写道，“它们可能会在一周内毁灭世界。”然而，这些昆虫也是农业大师。切叶蚁栽培真菌作为食物，而 Lutea 属的蚂蚁则像饲养“家畜”一样照料蚜虫以获取其甜美的分泌物。Wilson 数十年的蚂蚁研究最终扩展为他在保护生物学领域的里程碑式职业生涯，直到 2022 年去世。在这本书中，他的心思集中在他的主要研究对象以及支撑本书的见解上，即蚂蚁不能被理解为个体，而必须被视为一个作为单一生命单元运行的超有机体的元素。正如作者所言，“一只单独的蚂蚁就像一个脱节的零件；它根本算不上蚂蚁。”

《荒野之刺》(The Sting of the Wild)

作者：Justin G. Schmidt (2016) 2

在《荒野之刺》中，Darlan G. Schmidt (1947-2022) 将近 2 亿（2亿）个词汇——尤其是以宇宙 Schmidt 的名义，这位专门研究昆虫防御机制的昆虫学家，创建了刺痛等级表，将刺痛感从微不足道的级别到侵入性的级别进行排名。他用线虫的描述来描述此类痛苦的实验。西方蜜蜂的刺痛（2-in-2-in 规模）被比作蚂蚁身上的“燃烧的火柴头”，而子弹蚁的 6 级刺痛则感觉像是在热煤上行走，“就像一只 3 英寸长的钉子钉在你的脚里”。关于被刺或渗出研究对象——穴螨——的独立描述是“比安静更苦”，且像“香醋辣椒”一样辛辣。Schmidt 阐述了线虫刺痛的演变如何促成了社会性昆虫的兴起。数百万年的适应逐渐将曾经的 eag-honey 阶段转变为毒液防御武器，现在蚂蚁和黄蜂利用这些武器来保护它们的公民——包括矿工——免受捕食者和竞争者的侵害。

CHERRY ON TOP 在印度尼西亚辛勤工作的蚂蚁。

《嗡嗡声》(Buzz)

作者：Thor Hanson (2018) 3

美国大约有 4,000 种本土蜂类，全球有 20,000 种。在《嗡嗡声》中，Thor Hanson 将我们的注意力从熟悉的蜜蜂（他称之为“蜂类世界的鸡”）转移到它们那些较少为人知且美丽多样且亲缘关系近的亲属身上。Hanson 先生是一位生物学家，他之前的书籍涉及种子和羽毛，他追踪了蜜蜂从类胡萝卜素和羽毛到身体的革命性转变。他在书中穿插了生动的野外遭遇，从观察像“船漂浮物”一样在小牛蝇上方盘旋的成年蜂，到研究匕首蜂——它们在悬崖边建造的精巧巢穴像一座“由编织物和枯死故事组成的巨大沙漠城市”。为了说明蜂类传粉对我们食物供应的重要性，Hanson 先生展示了一个大汉堡（Big Man Burger）中依赖于蜜蜂的成分——包括生菜、洋葱甚至牛肉（来自喂食由蜜蜂传粉的苜蓿的牛）。只有面包坯除外。他坚持认为，蜜蜂的价值既在于它们在这一周中所做的工作，也在于它们激起的情感。“我们经常将这类昆虫归类为靠近我们的……且没有哪一种比它们更受推崇。”

《蝴蝶的语言》

温蒂·威廉姆斯 (Wendy Williams) 著 (2020) 4

《蝴蝶的语言》既是对昆虫特质的颂歌，也是对蝴蝶之美、行为及其自然历史的致敬——同时也是对那些被其吸引的科学家和爱好者的致敬。温蒂·威廉姆斯曾撰写过包括《移动者》(The Mover, 2003) 在内的自然历史书籍，她回忆起自己在哥斯达黎加第一次看到蓝色摩福蝶的情景：“我立刻感到一种纯粹的兴奋，随后是极大的喜悦。”她认为，蝴蝶的颜色是一种由进化塑造的语言。蓝色摩福蝶闪烁的光芒会迷惑捕食者，而黑脉金斑蝶鲜艳的橙黑相间翅膀则在警告鸟类和其他捕食者它们是有毒的。“如果警告不起作用，”她写道，“就尝试跨越过度估计。”威廉姆斯女士沉迷于蝴蝶进化的悖论，包括黑脉金斑蝶幼虫对特定毒素的耐受力。适量的毒素能保护它们，但过多则会抑制生长或导致眼睛闭合。“许多蝴蝶死于它们必须摄入的毒素。这很反常。”像她这样的痴迷激发了爱好者们创建保护区，例如种植乳草以供黑脉金斑蝶所需的“蝴蝶公路”，以及通过恢复湿地——利用特定植被吸引福特蓝蝶。

《J. 亨利·法布尔的昆虫世界》

让-亨利·法布尔 (Jean-Henri Fabre) 著 (1949) 5

多年来，让-亨利·法布尔 (1923-2015) ——一位自学成才的自然主义者——一直渴望拥有一块可以研究昆虫的土地。当他最终在法国南部普罗旺斯购买了几英亩地产时，他发现这里并非宁静的避风港，而是一个充满杀戮与冷漠的景观。《J. 亨利·法布尔的昆虫世界》收集了他的诸多发现，但真正让法布尔像他的研究对象一样引人入胜的，是他的文笔和戏剧性的视角（此处由 Alexander Triunio 翻译）。在法布尔看来，没有什么昆虫比雌性螳螂更令他震惊，这种生物拥有一个虔诚的名字，却有着捕食其他昆虫甚至捕食配偶的食欲。螳螂的外貌是“对其习性的掩饰；那些像在祈祷一样折叠的手臂其实是致命的武器”。法布尔的观察揭示了当时其他自然主义者未曾注意到的昆虫行为，这解释了为什么他如此坚持在自然栖息地观察活体昆虫。“你们撕碎动物，而我研究活体，”他告诫同辈们，“你们在阴暗的房间和解剖室里劳作，而我在蓝天之下进行观察。”

艾伦特记录（续前页C7）

Jaspers。Biodegger，因为市场和较低的 艾伦特后来告诉他，1958年的著作《人类状况》对他心存感激，“占据一切”。她强制执行纳粹主义，然而在2021年，她评估了艾伦特最终谴责的思考从共同世界退缩到“偶然更高唤起”的情况。艾伦特对拉巴尔·瓦恩哈根（Rabal Varnhagen，1867-1935）的研究——一位皈依基督教的德国犹太作家——探讨了一个社会如何对待一个通过自力更生寻求认同的犹太人。瓦恩哈根成为了艾伦特思考拉巴尔解放的首个工具。1833年，当希特勒上台时，反思变得更加致命。艾伦特开始收集证据，并在那一年的夏天被逮捕。几天后获释，她逃离并于那个秋天抵达巴黎。迈耶先生对艾伦特的巴黎岁月给予了令人欣喜的关注，而其他作者则将其视为艾伦特美国名声两个方面之间的一个内部 。阅读她在阅读上帝如何之后准备的奖励，他认为“两个汉娜·艾伦特”在那里成形。他希望以及致力于犹太行动的女性。她帮助建立了青年阿里亚（Youth Aliyah）的法国分部；到1866年，约有120名儿童通过其努力抵达巴勒斯坦。与一个在很大程度上被遗忘的女性网络共同工作，她安排培训、协商签证规则、筹集资金并与柏林和耶路撒冷的同事通信——这就是迈耶先生将其重新带回视野的政治实践教育。她于1929年与哲学系同学君特·霍恩（Günther Horn）结婚，在他们的关系于1956年结束时，她在巴黎的一次关于反犹主义的讲座上遇到了布吕歇尔（Blücher）。他们在1960年初结婚。那时法国政府将她作为敌方计划关押在 ，直到法国战败后的大规模释放，她离开营地并与布吕歇尔团聚。他们前往美国的旅程部分取决于帮助他们办理手续的宣誓书和资金。艾伦特后来将权利定义为被排除在一个有组织的社区之外，而在那个社区中，一个人的观点本将具有意义，一个人的行动本将有效。在成为美国公民后，她称护照为“我所知道的最美丽的书”。在纽约，拯救工作获得了文学形式。艾伦特为一份优雅的报纸《Adidas》撰稿。在Arbachee Books出版社，她参与了卡夫卡的美国版工作，帮助为失去了大部分讽刺读者的犹太文学提供了第二次发声。从出版业，艾伦特转向了文化机构。1944年，她加入了犹太文化重建组织，该组织帮助识别和保留欧洲犹太人被毁灭后留下的文化财产（她后来成为了该组织的常务董事）。她和她的同事编制清单，在法院原告之间进行协商，并将书籍和档案发送给犹太社区。仅从一个收集点就来了超过800 ：50,000 以及大约 200,000 本书。这些数字 且书籍较少的事物指向同一个历史断裂，尽管它们的问题不可衡量。每一个人都被切断了使其权利、所有权和继承权变得可理解的文字。艾伦特的《极权主义的起源》（1955）在理论化其形式的同时，记录了 。迈耶先生给予了这项工作应有的分量。

在致力于肉体与禁锢的办公室里，阿伦特看到一个人将无法维持自身。它依赖于被认可的权利主张和他人愿意遵守的协议。全面统治从根源上攻击这种脆弱的结构，使人类变得多余，并将他们卷入一个意识形态进程之中，而该进程可怕的基调用她的原话来说就是“一切皆有可能”。为了对抗这种支配欲，她提出了她所谓的现实：即每个人出生时便拥有的、开启某种不可预见之事的能力。因为行动进入了其他生命的网络，其后果是不可预测且不可逆的。进步提供了从既成事实中解脱的可能性；承诺则在不确定的未来中创造了她所谓的“安全支点”。迈耶先生的联系使得这些想法背后的书籍体验更容易被察觉。阿伦特曾在那些只能不完美地维持连续性的机构中度过了多年——而这些机构可能会发生灾难性的崩溃。在1961年耶路撒冷对阿道夫·艾希曼的审判中，阿伦特面对的是如何审判一个杀人系统的课题。她于1963年在《纽约客》上分五期发表了报道，随后在同年出版为《耶路撒冷的艾希曼：关于上帝之思考的报告》。在周日，阿伦特指的是艾希曼的思想模式。其背后的公民身份和狂热的反犹主义绝非平庸。他的“思想织造”并未减轻他的罪责。阿伦特认为他对大规模谋杀负有责任，并支持对其执行死刑。

艾伦特不信任集体身份带来的冲突。然而，当她作为一名犹太人受到攻击时，她会以犹太人的身份予以回应：艾伦特职业生涯的核心争议在于她关于犹太人在编制名单和管理驱逐过程中所扮演角色的主张。迈耶先生在犹太机构中对艾伦特作品的挖掘，部分是为了回应那些指责她对“犹太名单”漠不关心的观点。然而，这也使得她在此处的立场变得更难解释。她从内部了解此类群体在极端危险中是如何运作的。她对希特勒统治下的犹太人提出了一种诺曼·佩克纳（Norman Peckner）所称的“道德要求”，即要求他们比在杀人者掌握所有权力时人们所能期待的普通人更加勇敢和高尚。正是在这种背景下，曾在犹太文化重建机构与她共事的格肖姆·肖勒姆（Gershom Scholom）指责她对犹太民族几乎缺乏最基本的法律意识。他们的争论不在于艾伦特是否属于那个民族，而在于这种归属感对判断力提出了怎样的要求。她回答说，她爱的是朋友，而不是民族。对她而言，归属不能意味着放弃批评。她不信任集体身份带来的冲突。然而，当她作为一名犹太人受到攻击时，她坚持以犹太人的身份回应：这场风波使老友反目，并招致了犹太组织和大屠杀幸存者的批评，尽管这并未使她的事业脱轨。正如迈耶先生所示，这场争议塑造了一个已经酝酿多年的公众形象。艾伦特的德国口音、犀利的根基以及异常的干练——政治学家兼艾伦特之友的梅塔戈尼斯塔斯（Metagonistas）曾将其描述为一名“知识上的精明斗士”——这些特质与她的论点变得不可分割。迈耶先生重建的这段人生，是一场针对“类别权力导致价值贬损”的持续反叛。他展示了她的思想是如何在那些决定未来的分类办公桌前成形的，是在那些负责评估幸存者遗产的组织中成形的；她生于那段历史，但她的论点似乎不再仅仅源自孤独思考的高度。它们承载着文件的处理、主张的争论，以及将对犹太人的忠诚从言语转化为行动的过程。赖特先生（Mr. Reiter）是《Blesses. Schatz: An Artist, a Murder, and the Mpishing of History》一书的作者。——《华尔街日报》。... 2026年8月8日-9日，周六 / 周日 / C9 # 书评 “当他揭开第七道印时，天上就静默约半小时。”——《启示录》83

炸弹的诞生

我们大多数人都见过首批原子弹爆炸的照片——那些不断扩张的蘑菇云、火球以及冲击波，它们终结了第二次世界大战，并永远改变了我们的生活。在《极性》（Polarity，芝加哥出版，344页，30美元）中，艾米莉·塞利（Emily Seyl）将我们带回了在新墨西哥州高地沙漠进行的最后几个月的测试阶段，当时曼哈顿计划的理论正变为现实。塞利女士是洛斯阿拉莫斯国家实验室的一名作者，该实验室是部分原子能研究工作开展的地方。她在书中描述这枚炸弹时写道：“根据其基本设计，一个由易裂材料组成的小型中心球体将被一个大得多的常规炸药外球压缩，从而在装置核心形成超临界质量，产生核爆炸。”我们被告知，围绕这次测试的大多数技术细节都已有“详尽的记录”，但至于测试场地本身，在项目结束之后，“三位一体（Trinity）作为一座临时实验室和繁忙的沙漠社区的外观和氛围不可避免地开始消褪”。这本书填补了那些消逝历史中的部分空白。除了图表、蓝图和施工照片外，塞利女士还向我们展示了那些工人们的日常生活，他们不得不与家人分离，有时一离开就是数月；他们参与的是一个起初许多人对其知之甚少的秘密项目。书中包含了临时营地、营房、格栅及其他基础设施的照片，包括用于拍摄爆炸图像的摄影掩体。书中还有关于“山丘”（the Hill）的黑白照片，那是许多项目科学家居住的住宅区，以及一个“直线长度带状累积器”（Straight Length Banded Accumulates）的照片，即首枚原子弹爆炸发生的密封木箱。与任何科学实验一样，必须进行艰苦的观察和测量。照片显示了在爆炸点北面、南面和西面约 10,000 码（约 7% 英里）处观察孔的建设情况。塞利女士写道：“掩体由坚固的木材支撑混凝土板屋顶建成，每个掩体面对爆炸的一侧被埋在土堆下，相反方向墙上的梁则抵住沙填料。”伴随着更狭窄的转折，与其说是平衡，不如说是未能达到预期结果的实验。在将“巨无霸”（Jumbo，见右图）——一个重近 500,000 磅、用于测试爆炸的容器木箱——从俄亥俄州运往新墨西哥州的过程中付出了巨大的努力，而它在那里闲置了四次，因为其尺寸和密度将显示爆破的数据。“木箱被放置在地面零点，但位于西北方向 800 码处，与一圈距离最近的仪器掩体相邻。”如果说测试已经消褪，“随着周围历史的展开，对失败的沉重投资将悄然从潜意识中解脱”。“三位一体”的大部分科学工作都集中在“小玩意”（the Gadget）上——这是原子弹本身的代号。书中包含了大量“小玩意”最终形态的照片，以及一张科学家们预想中蘑菇云样貌的图表。一组迷人的照片记录了 1945年7月16日 实际的爆破情况。在这次成功的测试之后，“小玩意”被“胖子”和“小男孩”所取代，那是两枚投向日本的炸弹。马克·文本（Mark Text）为本报撰写军事历史报道。

一个失落的海军陆战队天堂

《罐头海岸》（Tin Can Coast）

布鲁姆斯伯里出版社，336页，$32 作者：Jesus Frown Skate

加利福尼亚洋流从温哥华岛延伸至下加利福尼亚半岛，长约1,900英里，其从海底涌上的营养丰富的水流使西海岸成为全球海洋生物生产力最高的地区之一。在《罐头海岸》一书中，约瑟夫·奥吉尔维（Joseph Ogilvy）探讨了这个沿海世界的诗意与美感，其中栖息的海洋生物，以及正在影响它的种种行为。奥吉尔维先生曾在牛津大学就读，后来成为一名厨师，他以极具推动力的散文笔触撰写了这部处女作，展现了一段简单的历史：“一旦人的眼睛转化为阳光或鳀鱼的血肉，食物链就变成了一张纠结、混乱的网，充满了不断的伏击、攻击、追逐与逃脱，在金色的闪光中，座头鲸张开大口冲刺，将鱼类随水流一同卷入。随后，它们将水从巨大的口中排出，留下sunbows被消化。”

作者追溯了西海岸人类与海洋世界之间长期的互动，从美洲原住民的祖先开始，他们从东北亚跨越太平洋抵达今天的加利福尼亚。书初聚焦于南加州楚马什群岛（Chumash Islands）的楚马什人，他们曾使用捆绑芦苇制成的小船捕鱼。对于楚马什人来说，“一群sunbows看起来就像一个巨大的阴影在水下穿过”。本书以奥吉尔维先生在洛杉矶港终端岛（Terminal Island）的漫步结束，那里曾是一个古老的日本渔村，也是如今进口到加利福尼亚的大部分海鲜的首到之地。在此期间，他记录了近几十年来该地区商业渔业衰落的故事。这种衰落的根源可追溯到18世纪和19世纪初，当时来自俄罗斯等地的猎人几乎灭绝了西海岸曾经丰富的海獭种群。奥吉尔维先生认为，这是“加利福尼亚的原始之罪”，破坏了海岸的社会政治平衡。这是一个悲剧性的故事，但奥吉尔维先生也用幽默来化解它。他写道，“在它们数百万年的生存历史中”，没有比19世纪中叶的加利福尼亚“更适合成为一只鲍鱼的时间或地点”了，“而且以后可能也不会有了，那是腹足类动物繁荣的黄金时代”，因为它们的主要捕食者——海獭——几乎在该地区被根除。

《罐头海岸》的范围涵盖了从早期的日本鲍鱼潜水员到后期的乔治·斯特林（George Sterling）——这位“鲍鱼食客的高价者”及其圈子里的海滩鲍鱼爱好者；从将罐装金枪鱼广告宣传为“海洋的精华”，到蒙特雷的鱼罐头厂，当地的市政领导人曾成立一个委员会来处理罐头工业散发出的难闻气味，直到福斯特·戈梅尔（Foster Gormel）的海边。奥吉尔维先生曾在伦敦和德克萨斯州奥斯汀的餐厅工作，他忍不住在书中加入了一家旧金山著名餐厅的食谱，他以一个熟悉商业厨房的人的口吻描述了商业养殖鲍鱼排的准备过程：“鲍鱼经过修剪、剖开，并轻轻地用鲂鱼线穿过。”随后，厨师将“鲍鱼颈部放入热的大蒜黄油锅中”。

在金枪鱼中：1931年，加利福尼亚州终端岛一家鱼类罐头厂的一名工人。

关于保存鲍鱼的说明中提到要使用一个“足够容纳一个成年人”的大锅。而且谁能想到，19世纪旧金山的社交名流会将鲍鱼壳磨成粉，撒在他们的邀请函上？作者作为厨师的经验体现在他的写作中，“在

刚刚停止起泡，然后用微火加热，直到边缘刚刚开始凝固，整个过程大约一分半钟。”关于渔业管理中“541stmen可持续产量”理论以及充满艰辛的国际捕鱼权谈判的章节有点像是在唱歌。但奥格尔维先生对图纳罗姆（Tunaולם）——圣迭戈附近波因特洛马的葡萄牙裔渔业社区——以及渔船上工作的精彩描述弥补了这一点。“近看就像一场混乱，飞舞的五十磅重的鱼和猎人们交织在一起，钩子、血液、水花和摇晃的甲板。鱼钩勾在脸上，被钩住的金枪鱼猛撞在肩膀和床单上，渔民们跌入被泡沫拍打的水中。”尽管如此，奥格尔维先生的结论是阴郁的：加利福尼亚州几乎不再有商业捕鱼业，而曾经丰富的海洋生物（如鲍鱼）已变成了一种崇拜。

加利福尼亚州渔业衰落的故事始于俄罗斯皮毛猎人。精英阶层的特权。对于商业鲍鱼养殖户来说，“四年时间足以将一种贝类养到鸭蛋大小”。《罐头海岸》（Tin Can Coast）最终是对一个几乎被遗忘的世界的强有力的悼词——一些人仍通过约翰·斯坦贝克（John Steinbeck）的《罐头工厂街》（Cannery Row，1945年）等富有想象力的文字以及蒙特雷湾水族馆等机构将其铭记。正如奥格尔维先生所写，“当然，鲍鱼存在于星辰、太阳弧和水槽中，金枪鱼则存在于租赁船的鱼舱和美食罐头中。”这是一个极其悲伤的故事，讲述得非常优美。Siler女士是《白魔鬼之女》（The White Devil's Daughters）的作者。 --- C# / 周六 / 周日，2026年8月8 - 9日 ... 华尔街日报。 # 书评 “我不追求男人的尊严。在我看来，这太可笑了，并不比女人的卑躬屈膝好多少。” -strongs sand # 流沙

成为乔治 (Becoming George)

作者：Fiona Sampson Norton出版，450页，$35 作者：Donna Sussman

深色眼睛的美女。乔治·桑 1932年同名小说中的主角印第安娜（Indiana），与她的创作者有许多共同之处。印第安娜被困在不幸的婚姻中，在巴黎与孤立的法国乡村之间徘徊，陷入了一场热烈的私情，并深深地迷恋上一位自幼相识的英俊男性亲属。桑在创作其最著名的几部小说，包括《Cahd》（1833年）、《Mangard》（1837年）和《Bunkhead伯爵夫人》（1845年）时，经常在她的70多部虚构作品中求助于当地经验。当代读者被她的外貌、自我标榜的英雄主义以及对精神联系的流行评论所吸引，桑的文学作品继续频繁地体现出自我构建在每一代梦想家和知识分子形式中所扮演的角色。

这位小说家穿着长裤，抽雪茄。她对她的许多情人（包括肖邦）也持有某种母性的方式。 正如 Fiona Sampson 在《成为乔治》中所论证的，桑能够“从她所关心的事情中汲取力量和信念”，这是她惊人的多产以及那种独特的社会和哲学心态的秘密——即便在近两个世纪后的今天，这种心态依然在定义着她的作品。Sampson 女士是华盛顿大学的诗歌荣休教授，她专业地引导读者进入那个孕育了 19 世纪文学最伟大实践者之一的文化和知识世界。

桑（1804-76）出生于巴黎，原名 Aurora Dupin de Francueil，人们经常记得她与波特莱翁·肖邦（Poteleon Chopin）和阿尔弗雷德·德·莫雷尔（Alfred de Maurer）等反营养主义者之间那些华丽且充满丑闻的私情。但对于 Sampson 女士来说，性实验只是桑复杂生活拼图中的一块。在许多方面，《成为乔治》是对桑生活这一不完整议题的一次彻底且有说服力的修正。

桑的父母——拿破仑时期的富裕军官 Maurice Dupin de Francueil 和一名舞蹈与清洁工 Sophie Delabche——在女儿出生前一个月才结婚。这种法律滥用阶层后来使桑能够掌控父亲的大部分遗产；它也建立了不平等与适当之间的金钱平衡，而这种平衡将主导她的生活。四年后，Dupin 将妻子、女儿和一个刚出生的儿子搬到了他母亲位于 Nebaut 的 Bionic 乡村别墅，那里在巴黎以南近 200 英里处。在这里，年轻的 Aurore 在郁郁葱葱的花园中肆意奔跑，第一次体验到悲伤（Dupin 及其儿子都没能活过那一年），并培养出一种“新形态的肥沃想象力”以及对法国乡村的热爱，这些定义了她大量虚构作品的基调。

在巴黎的一所音乐学校短暂学习一段时间，并花几个月时间照顾祖母后，Aurore 在 18, 岁时嫁给了比她大九岁的家庭朋友 Counter Dudevant。这段婚姻育有两个孩子，但被证明是动荡且极其不令人满足的。她在 Dudevant 身上寻找志同道合的精神，而 Sampson 女士将后者描述为一个“没有特别才华”的人。在对家庭生活的厌倦中，Aurore 于 1851 年离开家人前往首都，并迅速沉浸在巴黎顶尖的文学圈中。她与法学院学生 John Sussman 共同发表了她的第一批专业著作，后者的年岁和知识需求赢得了作者的喜爱。这段浪漫关系虽然短暂，但当地的飙升是持久的——至少在纸面上是这样。（笔名“乔治·桑”取自 Sandism 的第一个音节。）

在1853年至1858年之间，桑德进入了一段她后来称之为“浪漫寓言”的时期，期间她开展了多段情事并快速发表文学作品。这位作者对男性装束和习惯的喜爱——她喜欢抽雪茄——从未停止引发令人不安的揣测。萨姆普森女士不愿随波逐流，她引导读者在一个较少煽情主义的语境下理解桑德那充满活力的违规行为。她解释道，桑德的“内心图谱”——“几乎完全属于精神层面”。这很难被描述为“一种对道德和政治的理解，以及像男人一样写作和谋生”。桑德作为一名身着华服的飒爽人物的持久形象，威胁到要削弱她一些传统的文学特质。萨姆普森女士特别详述了作者对需要支持的犹太伴侣的偏爱。其中一位情人就是肖邦，桑德在一位共同朋友家中首次与他相识，两人随后共同度过了九年时间，在欧洲各地旅行，并在桑德心爱的内博（Nebaut）重新定义自我。一种缓慢的评论传统有时将桑德视为对其情人的健康和作品产生负面影响的人。萨姆普森女士的解读则有所不同。在《成为乔治》（Becoming George）中呈现的肖邦远非一个浪漫的焦点。相反，他恰恰是一个狡猾、以自我为中心的年轻人，为了自己的事业，“非常乐意看到周围的所有人”为其服务。当这段关系最终在1847年消亡时，人们几乎会为桑德感到高兴；她让自己从又一个财务负担——以及对她乐观精神的负担中解脱了出来。桑德生命的晚年以未知的纽带为标志，其中最突出的是与工程师亚历山大·曼宁（Alexander Manning）一段孤独而幸福的关系，以及在内博长期居住所激发的向田园主义的转变。随着时间的流逝，桑德的创作速度从未减缓。她搁置了小说《全时之楼》（Alltime Floor）的创作，直到临终前才重新拿起。桑德的逝世引起了全球艺术家和作家的哀悼——其中许多人是她的朋友。《成为乔治》以周详的思考和对细节的关注重新审视了桑德的一生。这部传记综合了令人印象深刻的资料集，包括私人信件、照片、肖像以及弗朗茨·李斯特和维克多·雨果等人物的偶然记录。萨姆普森女士最重要的来源或许是桑德的自传《空中的女人》（Woman in the Air）（1854-55）。在给一位朋友写关于这部大胆回顾录的信中，桑德断言，“对我来说，这种苍白需要被消除……要么是为了帮助我自己，要么是为了在任何事情之前证明我自己”。恰如其分地，《成为乔治》既没有指责也没有干扰其与剧院的关系，而是将之作为一次诚实且好奇的审问，针对一个长期以来被简化且模糊的一生！桑德斯女士曾任罗伯特·L·巴特利（Robert L. Bartley）奖学金获得者。

他沉睡的那个夏天

FICTOR SUE ROCK

危险夏令营这一美国制度激发了大量电影创作，因此它在虚构文学中如此缺乏表现形式，这一点并不奇怪。菲利普·罗斯在其晚年严峻的小说《罗曼史》（2010）中为其父亲地描绘了它。在梅格·韦尔德的《有趣的》（2015）中，一个 1970 年代的艺术营是角色们建立终身友谊的地方。现在，在《温柔的年纪》（Silverhead，1911 页，$10）中，李昌柱（Chang-joo Lee）剥离了表象，审视了 1979 年在纽约现代谷（Modern Valley）一次为期两周的教会静修活动中所发生的事情。李先生的叙事讲述了一个名叫 Jeon-Gi 的韩裔美国男子，他以一种复杂且充满怀旧与遗憾的情绪，回忆起他 G 岁那个夏天。

Jeon-Gi 在纽约市北部的地下公寓长大，童年时期与一群种族多样化的邻居在操场上自由奔跑。他被聪明且热爱生活的母亲宠坏了，但在同龄朋友中容易受到欺负。在过去，这种结合使他变得专注且委屈，并因其青少年时期不时爆发的古怪愤怒而受到指责。在 Jeon-Gi 因用刀威胁一名角色而被学校停学后，他困惑的父母将他与其他韩国教会信徒一起送往 Cong Cheunghwa 以帮助他康复。

这部小说没有遗漏这次形成性格的隔离期间的任何细节，生动地捕捉到了巨大的喧嚣和声音，以及山区的隐匿和 mostahaff 协议。带有煤油和陈年奶酪气味的军用级驱蚊喷雾弥漫在空气中。对于习惯了生姜和泡菜口味的孩子来说，热狗和罐头水果的餐食具有启发性。“这就是纯正的美国食物，健康、新鲜且平淡，而我们热爱它。”

李先生描述了在粗犷的营员群体——运动员、开玩笑的人、捣蛋鬼——之间形成的情谊。当然，Jeon-Gi 也被那一群女孩所吸引，其中包括 Susan Kim，她短而黑的发型让她看起来像动画片《速度赛车》中 Go Mithne 的女孩版。李先生在角色塑造方面尤为敏锐。书中的一个角色是名叫 Ben Frost 的乐观且品行端正的辅导员，他激活了男孩们的内阁障碍。“他正引导我进入一个兄弟会，”Jeon-Gi 在回忆 Kim 选择他一起制作绳索秋千的时候写道，“一个勇敢与文雅并存的兄弟会，在那里我们完成有用的任务，制作能给人们带来快乐的东西。”

这些关于渴望成熟的感人时刻，与嫉妒的盛宴、公开的尴尬以及其他青春期的成长阵痛并存。Jeon-Gi 的困难从未超出寻常——他的主要挣扎在于赢得同样的关注——但他暴力管弦乐的历史给故事带来了一丝威胁感和无利可图感。在确保这个月被仔细观察后，这个成年故事完全与 Jeon-Gi 怪异的行为狂喜相契合。尽管如此，李先生极好地唤起了童年时期的那种无与伦比的紧迫感，当时

本周推荐

《温柔的年纪》(A Tender Age) 作者：李昌柱 (Chang-joo Lee)

《仿佛》(As If) 作者：伊莎贝尔·魏德纳 (Isabel Weidner)

《七》(Seven) 作者：乔安娜·卡特里娜 (Joanna Katerina)

从脚注到女孩的微笑，一切都显得生死攸关。在伊莎贝尔·魏德纳这部以伦敦为背景的闹剧《仿佛》(As If) (1916, 1912页, $10) 中，身份被轻描淡写地对待。奥布里·刘易斯 (Aubrey Lewis) 是一名挣扎在底层的艺术家，因妻子近期去世而心碎，无力去争取一个可能重启其职业生涯的电视剧角色。林赛·孔托 (Lindsey Kontor) 在精神崩溃并与妻儿断绝关系后，一直住在桥下。这两个不幸的男人相遇了，在注意到彼此长相相似后，达成了一项大胆的协议，互换身份。林赛参加试镜并得到了奥布里的电视剧角色。他的表演挑战注定与合作者不同，因为他的“表演必须在拍摄间隙继续”。与此同时，奥布里潜入了林赛妻子的生活。她意识到这个男人不是她的丈夫，但仍愿意给他一个机会作为替代者。这本书通过这个故事，勾勒出他们在扮演新角色时所面临的困难，以及角色扮演整体上的临时性质。书中充满了惊人的模糊性。章节在奥布里和林赛的叙述之间交替，他们的声音如此相似，以至于很容易混淆；此外，不明确的角色名称增加了性别混淆的可能性。经常，这种双重身份和角色设计的消解使故事更具假设性。故事的大部分是以回忆形式讲述的，让承诺带来的喜剧可能性得以被认可。最终，唯一感觉确定的是角色们的匮乏感，以及他们的信念：无论他们如何提供，总有其他人能做得更好。

更令人脑洞大开的是乔安娜·卡特里娜这部极具创意且像谜盒一样的作品，《七》(Seven) (1940-5 Rules, 1912页, $15-16)。小说的主角（姓名和性别均未透露）是著名塞尔斯哲学家艾达·格梅莱特 (Aida Gmellett) 的助手，后者的专长是“非办公时间思考”。（她正在撰写的一本书名为《关于非框架思考的非框架思考》）。在一次晦涩的研究任务中，叙述者前往希腊的希德罗岛 (Hydro) 会见西奥斯·阿波斯托利亚斯 (Theatheos Apostolias)，后者为失物创建了一个悖论式的兴趣点。西奥斯必须寻找的是一套在第二次世界大战期间失踪且具有极高情感价值的“发烧”游戏 (game of fevers)。什么是《七》？这是一个虚构的游戏，在某种程度上类似于 Pachons，但具有更多战略元素，“发烧”游戏在一个螺旋形棋盘上进行，该棋盘传统上雕刻在一个圆形木盒上。这个游戏是叙述中环球冒险的组织因素，其目标起初并不明显，且似乎总在变化。最核心的哲学讨论发生在艾达的小组参加“发烧”世界锦标赛，并与该游戏的使徒祖母们结交，以及会见分享关于螺旋、发烧和地理学书籍结果见解的考古学家和天文学家时。以 Chaux-Palade 或 Umheros Era 的后一种 / 另一种方式，这部小说俏皮地探索了符号及其含义随时间演变的方式。卡特里娜女士乐于让小说结构在展开时避开明确的结论。她坚持并参与一种细流般的、递归的叙事系统——正如一个角色提醒我们的那样，“游戏应该是快速的”。

--- 华尔街日报 (THE WALL STREET JOURNAL)

... 周六 / 周日，2026年8月8 - 9日 / C11

书评

“不要害怕。这座岛充满了噪音， / 声音与甜美的空气，带来愉悦且不伤人。” —— 威廉·莎士比亚 (WILLIAM SHAKESPEARE)

奇思妙想之声

虚构乐器博物馆

作者：Derdre Loughridge 和 Thomas Patterson Readtime 出版，200页，25美元 评论员：John Curns

1904年，埃里克·莫里茨·冯·谢尔贝斯特尔（Erick Moritz von Sherbestel）和库尔特·萨克斯（Curt Sachs）发布了一套基于乐器发声原理的分类法。对于那些通过敲击或操纵拉紧的薄膜（例如鼓面）来发声的乐器，他们称之为“膜鸣乐器”（membranequintures）。此外还有无定形乐器（如萨克斯管或长笛）、aliphyllum cilium 和 bulb（例如），以及 chondophores（如班卓琴、owl）。在 threehead 轨迹中的每个 chondophore 几乎涵盖了 aplenty，随后是潜意识和进一步的潜意识，总计超过 100 个类别。对于这两位学者来说，对世界上所有已知乐器进行分类已经是一项巨大的工程。然而，有一类乐器逃脱了他们的视线——那就是虚构的乐器。

为了弥补这一可以原谅的疏忽，Derdre Loughridge 和 Thomas Patterson 带我们参观了“虚构乐器博物馆”。Loughridge 先生是东北大学的音乐教授，曾大量撰写关于音乐与技术交互的文章。Patterson 先生是宾夕法尼亚大学的讲师，专注于即兴演奏和声音技术。两人在 2012 年共同启动了一个网站，该网站成为了本书的前身。

他们将这些乐器命名为“Pistophores”。与谢尔贝斯特尔和萨克斯的分类法类似，histophores 的目录包含若干分支，其中每一个分支都成为了这本古怪且生动书籍中的一个章节。因此，我们得以了解那些反映宇宙秩序、由思想驱动，或以完全不切实际的方式延续实用物品的乐器。Loughridge 先生和 Patterson 先生在编排上允许一定的流动性，因为他们试图“对不存在之物进行组织”。另一个宽容之处在于：他们认为“虚构与现实之间的界限绝非密封不透”。毕竟，虚构的乐器有时会变成现实——或者有一天会变成现实。

作者从喜剧乐器以及人们利用音乐来理解世界及其自身地位的方式开始。他们引用了：12世纪的神学家霍恩的约阿希姆（Joachim of Horn），他将三位一体构想为一个具有 81 根弦和一个代表上帝的中央音孔的三边 podiatry。一份来自 13 世纪手稿的整页介绍被公布，带有美丽的 rods、greens 和 bleys。书中还出现了一件截然不同的作品——Correspondence，它出自戴夫·拉德霍夫（Dave Radhofer）在小说《Return From the Return》（2012）中的构思。拉德霍夫想象这种“具有非凡效能的晶体状管风琴”拥有数千本书，例如“基于一颗恒星的基频”。

接着是那些将“非音乐转化为音乐，反之亦然”的乐器。其中之一是路易·贝尔特兰·坎特尔（Louis Bertrand Cantel）在 1725 年提出的一种大键琴，理论上它将声音替换为颜色。面对对其乐器的质疑，坎特尔通过制造一台来回应。然而，该乐器没有留下任何证据，且作者提到，当时关于其功效的报告十分“模糊”。18 世纪的化学家斯特凡妮·弗洛里（Stephanie Floree）将声音转化为气味，宣布了一种“橄榄八度”，作者解释道，“音符与词语之间的对应关系为和谐的嗅觉贡献提供了基础”。在 Peter 的想法基础上，约瑟夫·H·克劳斯（Joseph H. Kraus）在 1622 年提出了一种范围更广的“气味管风琴”，其中间部分呈现 bluebrowns，具有玫瑰的香味；高出三个八度的是茉莉花；而在低沉的音调中，则是丁香和香草。扩展乐器依赖于现有组件的组合或倍增。作者承认，其中一些乐器陷入了“技术巨型主义”，例如一台七-

喇叭号由萨克斯管的发明者阿道夫·萨克斯（Adolphe Sax）于1869年获得专利。萨克斯进一步突破，设计了一款拥有13个喇叭口的号角；这件后来由其子阿道夫·爱德华（Adolphe Edouard）继承的乐器，彻底改变了铜管乐。作者指出，双端图像早在1800年就已出现，并附上了一张由Svalskiko Sainch于1902年制造的12弦电吉他照片——他们写道，这是一个“沿着从扩展到过度之路上看似不可阻挡地前行”的例子。（撒旦主义者会感到欣喜——或者说执迷不悟。）文中提到，现代乐器配备了12个颤音杆，创造了无穷无尽的音高弯曲可能性。

关于活体乐器的一章重点介绍了切断钢琴（cut piano）。作者将其最初的构想追溯到1500年。在这种18世纪的乐器中，由于音域有限，该乐器被设计成一个盒子，头部从顶部伸出，尾巴则通过侧面的孔洞伸出。当拉动某个尾巴时，就会产生一个音符。几年后，一种切断键盘出现了，其按键可激活带有销钉的击锤。1922年，约瑟夫·H·克劳斯（Joseph H. Kraus）提出了一种“气味管风琴”。中央C音闻起来像玫瑰；低音则像丁香和香草。当销钉刺入切断钢琴的尾巴时，气味便会随之产生。作者认为，在多大程度上将切断钢琴的历史存在视为真实，仍是一个开放性问题。

基于音乐与数字之间持久的关系，作者还解释了计算上的差异。作者回顾了一位17世纪的学者，他写到了一台机器——一个“音乐制作方舟”的极限——该机器承诺只要具备“对作曲的完整了解”，就能提供任何音符。通过移动一组写有各种音符和节奏的木条排列，就可以建议完整的乐曲。作者补充道，Kerber甚至声称发明了另一台更强大的音乐制作方舟，且该机器“等同且秘密地”仅提供给“王子和值得信赖的朋友”。音乐学家约翰·麦凯（John McKay）写道，“这种设备的构思本身就激发了一种‘敬畏与惊叹之感’。”

谁能不对这种想象力的极限感到震惊？无论是赫克托·柏辽兹（Hector Berlioz）笔下那架能自动演奏的钢琴，还是金·斯坦利·罗宾逊（Kim Stanley Robinson）虚构的“Widynswilars”（Schaetex），后者“将更多思想转化为音乐现实”。当然，在平凡世界的臃肿或狭隘中，在音乐可见、令人厌烦且易于幻灭的形式中，存在着某种慰藉。在《想象音乐乐器博物馆》中，还有一种对可能性的“持久迷恋”，即便它是虚构的，也同样重要。切克先生（Mr. Check）是密苏里中央大学的音乐教授。

行业秘诀（与风险）

墙上的谜团 当造纸厂工人举行罢工时，工会负责人为了给这场斗争筹集资金，采取了极端手段。

罗恩·库里（Ron Currie）在《野蛮风险》（The Savage, Risks (Island of Bobs Boone)）（2007年）中向读者介绍了一位年长的犯罪宿敌，背景是具有法裔加拿大根源的伊利诺伊州沃特维尔镇。库里先生在《我们将见你血》（The Will See You Blood）（Putnam出版，304页，20美元）中让Bobs复活，这是一部前传，记录了她最初涉足犯罪活动的经历。

1998年6月8日，沃特维尔造纸厂的工人已经罢工数月。业主解雇了终身员工，并雇用了替代劳工。造纸厂工会负责人Bobs对这场斗争感到疲惫。但随后，她认为自己母亲的鬼魂敦促她为了内部的科学而继续战斗。“接受你的身份，以及你必须做的事。要知道这会让你变得多毛且被追猎。要知道这最终会让你付出生命的代价。”

Bobs陷入了这个棘手的事实，她为此组建了一个核心团队。通过几位女性朋友和几个有能力的强悍男人，她铲除了一个贩卖管制药物的帮派，并接管了药物交易——这一切都是为了供养那些在罢工中陷入困境的工人，并为她对抗当地权势的更大斗争提供资金。但管理层将Bobs取代的那个帮派雇佣为工厂的安保人员，暴力冲突随之升级。

克莱门特·蒂博（Clement Thibault）神父是Bobs从小就跟随的导师，在教会两次禁止他参与立场之争后，他因公开支持罢工者而被拘留；随后，这位神父开始发起一场独立的运动，以揭露教会内部的不端行为。不苟言笑的Bobs为她抓住的每一次自由机会付出了代价。库里先生以残酷的抒情主义和黑色幽默地叙述了她的犯罪纵容。

“生活就像一场彩票，”卡佳（Katja）这样想着。在尤里卡·潘迪（Jurica Pandi）的《忧愁之母》（Mother of Sorrows）（Bitter Lemon出版，106页，8780美元）中，有六个左右的人物命运交织在一起。潘迪先生将这部复杂的惊悚剧设定在2012年的克罗地亚斯普利特。卡佳是一位丧偶的追逐女性，与她29岁的女儿伊内斯（Ines）和稍年轻的儿子玛丽（Marie）住在一起。伊内斯在当地一家酒店担任接待员。当她与老板的私情被对方妻子注意到，并在Facebook上向全镇公开后，她的生活变得复杂起来。“他们被剥光了衣服，扔给了社交媒体的狮子。”

本周推荐 《我们将见你血》 作者：罗恩·库里

《忧愁之母》 作者：尤里卡·潘迪

《灵酒廊谋杀案》 作者：乔伊·基德

一个更大的故事主导了新闻：一名十几岁女孩被谋杀，其残破的尸体在一天清晨被发现于一家废弃工厂。受害者是一位知名医生的女儿。警察督察泽文（Zeven）检查了监控录像和汽车损坏情况，以创建一份能够接触到在犯罪现场附近看到的该款车型车辆的公民名单。嫌疑人中包括玛丽，他在警察询问下始终保持冷静，以至于泽文认为：“如果玛丽真的是凶手，他的良心一定被手术切除了。”

由马特·罗宾逊（Matt Robinson）从克罗地亚语翻译的《忧愁之母》由不同人物视角的短章节组成。这个故事是一部带有警方程序色彩的作品，在平淡的记录中探讨了自由意志与命运的问题（“他们的血液中有一种有毒且不受控的东西”，“她想到了她的家人”），并将其置于保守的奢华与道德沦丧的背景之下。

在乔伊·基德（Joey Kidd）的《灵酒廊谋杀案》（Stria出版，308页，20美元）中，一名生活在1950年代英国海滨小镇的前加尔默罗会成员出现。她住在一群古怪的租客之中，每天给一只被她命名为康威神父（Father Conway）的准时海鸥喂早餐，并出于持久的好奇心追踪世俗报道。“我似乎无法再静静地沉思了，”她坦白道，“我真正需要的是一个可以拆解的谜团，一些令人兴奋且充满挑战的东西。”

她还与美国的生物遗传学专家卡特里娜（Katerina）成为了朋友，后者是一名与这座城市有着复杂纠葛的当地警察。他很乐意让罗斯（Ross）的女儿陪同他进行各项调查：其中一次调查将他们带到了一位名叫唐尼·克莱姆斯（Donnie Climes）的灵媒家中，后者邀请卡特里娜作为一名领先的获胜者参与其中。在环节过程中，屋内的灯光熄灭——唐尼死于电击。她的死亡被判定为谋杀。次日，一名在获胜者现场的心碎女性在证人面前从酒店窗户坠落身亡：随后，一名忧伤之母（另一位获胜者嘉宾）被发现死在床上。甚至凶手意图伪装在忧伤之母牙医诊所的所有在场人员？该群体将包括卡特里娜。一个她所熟知的、像个话痨一样的老头，处于神秘女性与劣等鱼类之间？“当目标是挫败一名危险的心理变态，同时保护那个让她日益感到窒息的警察时。” --- Q1 / 2026年8月8日 - 9日，周六 / 周四 ... 华尔街日报。

书籍

“在我头顶之上 / 我在空中击节 / 我深信 / 某处定有天堂。” ——SPARTAN

活跃之声

《马哈利亚·杰克逊：再向上攀登一步》（Mahalia Jackson, Moving On Up a Little Higher），作者 Timothy B. Tyson 和 Mary D. Williams，Liveright 出版，258 页，$28.99

《日光降临》（Daylight Come），作者 Joshua Jolly-Schapiro，Penguin Press 出版，384 页，$30

作者：David J. Gannon

马哈利亚·杰克逊（Mahalia Jackson）和巴里·贝拉方特（Barry Belafonte）在 20 世纪 50 年代闯入了全国音乐舞台。在《马哈利亚·杰克逊：再向上攀登一步》一书中，Timothy B. Tyson 和 Mary D. Williams 正确地将杰克逊（1951-52）称为“有史以来最伟大的福音歌手”，她脱颖而出于芝加哥的黑人室内乐到地下镜头。她在 20, 岁时搬到了这座城市，此前在纽奥良度过了童年，在由一名姨妈抚养期间，她“遭受了留下情感创伤的殴打”。音乐是杰克逊的避风港——“我只知道我想唱歌”。同样在杜克大学任教的 Tyson 先生和 Williams 女士指出，杰克逊的崛起得益于她与国会议员威廉·S·道森（William S. Dawson）之间密切且长期的联盟，道森是芝加哥黑人民主党机器中的重要人物。作者认为，1952 年在埃德·萨利文（Ed Sullivan）电视节目中的一次亮相“开启了她的主流成功”，在那个十年的剩余时间里，她成为了“最频繁出现在美国电视上的”黑人表演者。同年一次获利丰厚的欧洲之旅证明，她比那个隔离时代的某些美国南部朋友更受欢迎。人们热爱她的招牌歌曲《再向上攀登一步》（Show On Up a Little Higher），但她曾说过，“一旦我走下那个舞台，我就只是另一个有色人种。我晚上能住在哪里？”

贝拉方特（1837-2022）同样有着艰辛的童年，忍受着他那经常虐待人的牙买加裔父亲 Dysland 的虐待。Harry 在四年级辍学，加入了 Horn，在返回纽约市从事零工勉强维持生计之前，服了两周的军事监禁。他漂泊到哈莱姆的剧院工作，并遇到了一位同龄的 10 岁伙伴，后来成为了终生的女性渔业 Purton。贝拉方特开始在市中心的夜总会唱歌，其曲目是改编自格林威治村音乐场景的加勒比民歌。到 20 岁时，贝拉方特正带着浓厚兴趣离开自然，但直到 1950年代. Prominage 将他选为 1954 年电影《卡门·琼斯》（Carmen Jones）的男主角。贝拉方特的事业从此起飞。他 1954 年的专辑《卡利普索》（Calypso）收录了歌曲《One O》，在排行榜榜首停留了 18 周，并成为“历史上第一张销量百万的 U.P.”。Joshua Jolly-Schapiro 在《日光降临：哈里·贝拉方特与世界之造》（Daylight Come: Harry Belafonte and the World Be Made）中对此进行了报道。作者大胆地声称，这使得贝拉方特“比埃尔维斯更受欢迎”。他写道，虽然“哈里声音中震颤的清晰度”暗示了“一种会让美国人感到舒适的安的列斯群岛幻想和音乐”，但这位歌手正确的黑人诗意并提交给短篇的内容也是“贝拉方特为其音乐会上大多数白人观众培养的吸引力的关键”。贝拉方特知道，对于白人机构的粉丝来说，“是黑人，但……不是太黑”对于“吸引青少年”至关重要。Jolly-Schapiro 先生强调，贝拉方特的“加勒比风格与他的美国成功密不可分”，使他成为一个“色情符号”，比那些源自美国奴隶的黑人艺人“更容易被白人接受”。巴拉克·奥巴马的母亲曾告诉年幼的儿子，哈里·贝拉方特是“地球上最英俊的男人”，Jolly-Schapiro 先生正确地指出，奥巴马先生在“美国 Biscuit 之间的实际影响力及其受欢迎程度”让人想起贝拉方特本人。但贝拉方特的名声也让他付出了代价，正如他在 60 年代后期的一本自传中所记录的，Jolly-Schapiro 先生在书中大量引用了这段内容：“我在精神上崩溃了，”他向一名访谈者确认——

自由歌手：马哈利亚·杰克逊 1964 年在芝加哥的一次民权集会上演讲。

1957年的胜利。贝拉方特开始接受心理治疗，最初是与珍妮特·肯尼迪（Janet Kennedy）一起，这位分析师的两位接任丈夫斯坦利·莱文森（Stanley Levinson）和杰伊·理查德·肯尼迪（Jay Richard Kennedy）后来都成为了贝拉方特生活中的重要人物。贝拉方特“经常在傍晚时分拜访珍妮特·肯尼迪的教练，那时他们的治疗环节很容易演变成在肯尼迪优雅的公寓里共饮鸡尾酒和共进晚餐”。乔利-沙皮罗先生写道：“哈里欠珍妮特的债迅速增

马哈利亚·杰克逊（Mahalia Jackson）的福音赞美诗和哈里·贝拉丰特（Harry Belafonte）对卡利普索音乐的演绎，对于民权运动具有特殊的意义。深厚，“并且很快杰伊·肯尼迪（Jay Kennedy）——这个名字是该男子在离开共产党多年后采用的——成为了贝拉丰特的主导经纪人。后来，一次愤怒的决裂似乎影响了这两段关系。1957年，贝拉丰特与妻子玛格丽特（Marguerite）离婚，当时玛格丽特已经在独自抚养他们的两个孩子，随后他与一名白人舞者朱莉·罗宾逊（Julie Robinson）结婚。那时，初现端倪的南方黑人轰炸者运动正在兴起。马哈利亚·杰克逊访问了阿拉巴马州的蒙哥马利，以帮助纪念该黑人社区在抵制城市公交车方面取得显著成功的运动一周年。那场抗议的年轻领导人莫里斯·路德·金（Morris Luther King Jr.）也联系了贝拉丰特。前共产主义者莱文森（Levinson）成为了金的离婚同时自信且是顾问。无论是《马哈利亚·杰克逊，向上提升一点》（Mahalia Jackson, Moving on Up a Little Higher）还是《日光到来》（Daylight Come），都力图尽可能地突出其主题对民权斗争的贡献，且两者都过度解读了。乔利-沙皮罗（Mr. Jolly-Schapiro）对这些进展的轻率总结严重歪曲了这段复杂的历史，而《日光到来》则对杰伊·肯尼迪随后作为中央情报局（CIA）民权运动首席护士的角色进行了起义式的描述。他会将贝拉丰特和莱文森作为竞争性的颠覆性影响，通过国家故事向机构官员汇报其对运动活动的影响。泰森先生（Mr. Tyson）和威廉姆斯女士（Ms. Williams）正确地宣称，杰克逊的“惊人音乐成就完全掩盖了她的政治生活”——事实确实如此。虽然杰克逊通过在数十场义演中表演为运动筹集了数万美元，但作者称她为“20世纪至关重要的民权人物之一”这一说法是不稳定的。到1960年，杰克逊成了金的亲密私人朋友，金经常访问她的家，但她与效忠于芝加哥政治机器的道森（Dawson）以及她的“老朋友”市长理查德·J·戴利（Richard J. Daley）的深厚关系，与她试图帮助金针对深刻伤害黑人葡萄牙犹太人的普遍公民种族主义而发起的失败运动进行“杀掉”的努力之间存在很大紧张关系。关于芝加哥自由运动（Chicago Freedom Movement）最全面的两部电池——詹姆斯·R·拉尔夫二世（James R. Ralph Jr.）在1963年撰写的《兄弟假装》（Brothers Pretend）以及艾伦·R·安德森（Alan R. Anderson）和乔治·W·皮克林（George W. Pickering）在1980年撰写的《面对色线》（Confronting the Color Line）——每部作品仅提及杰克逊三次。除此之外，《马哈利亚·杰克逊》在民权历史上通常不被体现。而《日光到来》则不能如此，其中包含许多事实错误。这些错误从可比的——贝拉丰特在曼哈顿的长期住所位于1958年西端大道100号的第100层，而非第八层——到深刻的不等。作为一名参议员，约翰·F·肯尼迪没有投票反对1951年的《民权法案》，他投票支持了它。乔利-沙皮罗准确地称贝拉丰特为南方民权团体与好莱坞明星之间的“关键桥梁”，他也为运动筹集了数万美元。但贝拉丰特既不是“运动的领导者”，也不是金的“最好的朋友”。《日光到来》还包含一些不恰当的描述。金在情感上并非“哀求且平和”。而那些被公开种族主义登记员阻碍投票的所有阿拉巴马州公民，不应被视为“文盲底层”。

将贝拉丰特在 1960 年代中期贴上“同伴！运动”的标签似乎有些不公平，因为那时他成了拉斯维加斯的常客，且偏好“成年人的恶作剧”。但乔利-沙皮罗先生并没有淡化其传主晚年所表现出的“不克制的激进主义”，例如他曾称柯林·鲍威尔将军为其所服务的总统们的“家庭奴隶”。《Daylight Come》还承认了作者所称的贝拉丰特长期以来对“那些左翼信息掩盖了阴暗面的弱势领袖”的偏好，例如与古巴独裁者菲德尔·卡斯特罗之间“长期且深厚的友谊”，他每年都会访问古巴。哈里热爱“凤凰城街道的宁静”——在一个压抑的警察国家，这并不令人惊讶。马哈莉亚·杰克逊年仅 60 岁便去世了，在她的葬礼上，贝拉丰特哀悼她为“美国最强大的单一黑人女性”。贝拉丰特在 80 年代的歌曲中生活，近乎从美国人的记忆中淡出。而杰克逊则没有。她与在她之前的马·雷尼和贝西·史密斯一样，仍然是黑人音乐文化中一个持久的基石。甘农先生的著作包括马丁·路德·金小传《Bearing the Cross》。

儿童书籍：失落的宝藏 作者：Yu Bowen

在家度过最美好的时光

MUREL SPARK 与儿童文学的结合似乎是一段奇特的旅程，但在 20 世纪 60 年代中期的一个早晨，这位苏格兰小说家在伦敦的一家酒店房间里尝试创作这类故事。当时，Spark 正在等待前往美国的航班，正处于她人气的高峰期：《简·布罗迪小姐的黄金时代》已于 1961 年出版。该书在 1968 年被改编为成功的百老汇剧作，并在 1969 年成为一部更成功的电影。在此期间，Spark 写了两部小说，并正在创作另一部。在酒店房间里，Spark 的笔和纸摆在她面前，但在那个特定的早晨，她决定用它们尝试一些不同的东西。“我只是拿了一个笔记本，写了三个短篇故事，”她后来回忆道，“我想让孩子们和成年人读读这些，权当是一种改变。”随后，她将草稿交给了她的秘书。“她太厌倦无所事事了，我想给她找点有趣的东西来打字。”其中两个故事，《法式窗户》和《小电话》，于 1963 年共同出版，限量发行不足 200 册。第三个故事，《精美时钟》（Transit 出版，12 页，$29.95），在 1969 年广泛发行，同年 Spark 出版了《公众形象》。《精美时钟》不像那部或任何其他 Spark 小说那样华丽。相反，它是一次关于冥想的安静研究。故事讲述了霍拉斯·约翰·莫里斯教授和他那三块精神时钟，特雷西。每周，莫里斯教授都会邀请另外四位和他一样“聪明且著名”的教授，就学术课题进行讨论。一天晚上，这五个人决定给特雷西授予荣誉称号，因为他们认为特雷西是“我们所有人中最勇敢的，因为你不需要看钟就能报出准确的时间”。时钟婉拒了，发表了一篇冗长且华丽的演说，称如果他成为了特雷西教授，其他时钟会认为他“太傲慢”。故事以教授们严肃地低头并赞美特雷西的谦逊而结束，但在读者看来，这可能显得相当自负。《精美时钟》是为聪明的孩子准备的，而对于那些还太小、无法领会 Spark 冷幽默的孩子，爱德华·根特里那令人愉快地不安的插图则讲述了故事。在这次迷人的尝试之后，Spark 再也没有写过另一篇儿童故事。当被问及原因时，她回答道：“我拿到签证了。”

Bowen 先生是《Lamp》的执行编辑。

--- 华尔街日报. ... 周六 / 周日，2026 年 8 月 9 - 9 日 C13 # 游戏

新闻测验 DANIEL AKST

摘自本周的《华尔街日报》

1. 埃里卡·施瓦茨（Erica Schwartz）获得了参议院确认出任 CDC 负责人。她就读于哪所医学院？ ○ A. 耶鲁大学 ○ B. 布朗大学 ○ C. 宾夕法尼亚大学 ○ D. 哥伦比亚大学

2. 财政部长斯科特·鲍萨德（Scott Bausard）希望美联储扩大对日本的美元贷款。这些贷款将使用什么作为抵押品？

3. 一场人才战将哪类专业人士的薪资推高到了天文数字？ ○ A. 水管工 ○ B. 口腔外科医生 ○ C. 数学家 ○ D. 拥有工程学位的律师

4. 一项 200万美元 的图书合约因作者被指使用人工智能撰写小说而告吹。该书的书名是什么？ ○ A. "Chuck" ○ B. "Call Me, I'll Hide the Body" ○ C. "If the Problem Let Him Go" ○ D. "The Hound of the Backerolles"

5. 阿卜杜勒·埃尔-赛义德（Abdul El-Sayed）赢得了密歇根州民主党参议院初选——大约领先多少票？ ○ A. 150 ○ B. 1,500 ○ C. 15,000 ○ D. 150,000 5.

6. 在哪里，选民压倒性地否决了一项允许立法者取消州所得税的措施？ ○ A. 密苏里州 ○ B. 密西西比州 ○ C. 明尼苏达州 ○ D. 蒙大拿州

答案列在右侧的推荐解决方案下方。

7. 众议员查克·爱德华兹（Chuck Edwards，共和党，北卡罗来纳州）表示，在众议院一项调查发现什么之后，他将不再寻求连任？ ○ A. 他对员工进行性骚扰。 ○ B. 他伪造了其军旅经历。 ○ C. 他的简历中包含一个不存在的博士学位。 ○ D. 他接受了非法的竞选捐款。

8. 硅谷的一所旨在帮助儿童克服贫困和创伤的免费小学，在收到谁提供的 1.25亿美元 资金后关闭了？ ○ A. 盖茨基金会 ○ B. 谢尔盖·布林家族基金会 ○ C. 威廉和弗洛拉·休利特基金会 ○ D. 钱·赞伯格计划

数字谜题

这些谜题由 Cracking The Cryptic（全球最受欢迎的数独 YouTube 频道）的 Simon Anthony 和 Mark Goodliffe 为《华尔街日报》策划。

Killer Suboku: Whetfires by CIC 适用普通数独规则。在同一个区域（cage）内的数字不能重复，且其总和等于显示的数值。

On Topic by CIC 适用普通数独规则。沿着一条线，每组相邻的三个数字包含一个低位数字 (7,2,3)、一个中位数字 (4,5,6) 和一个高位数字 (7,8,9)。

ACTION 1. KILLY - 1% A. DOLAN (seq.) 18, NESTING (seq.) 19, J - HILL 2. T - AND (6,6) 14, NESTING (2,4) 15, NESTING (2,4) 16, SLAYKIDS 3. U - U.S. (2,4) 17, U.S. (2,4) 18, NESTING (2,4) 19, U.S. (2,4) 20, U.S. (2,4) 21, U.S. (2,4) 22, U.S. (2,4) 23, U.S. (2,4) 24, U.S. (2,4) 25, U.S. (2,4) 26, U.S. (2,4) 27, U.S. (2,4) 28, U.S. (2,4) 29, U.S. (2,4) 30, U.S. (2,4) 31, U.S. (2,4) 32, U.S. (2,4) 33, U.S. (2,4) 34, U.S. (2,4) 35, U.S. (2,4) 36, U.S. (2,4) 37, U.S. (2,4) 38, U.S. (2,4) 39, U.S. (2,4) 40, U.S. (2,4) 41, U.S. (2,4) 42, U.S. (2,4) 43, U.S. (2,4) 44, U.S. (2,4) 45, U.S. (2,4) 46, U.S. (2,4) 47, U.S. (2,4) 48, U.S. (2,4) 49, U.S. (2,4) 50, U.S. (2,4) 51, U.S. (2,4) 52, U.S. (2,4) 53, U.S. (2,4) 54, U.S. (2,4) 55, U.S. (2,4) 56, U.S. (2,4) 57, U.S. (2,4) 58, U.S. (2,4) 59, U.S. (2,4) 60, U.S. (2,4) 61, U.S. (2,4) 62, U.S. (2,4) 63, U.S. (2,4) 64, U.S. (2,4) 65, U.S. (2,4) 66, U.S. (2,4) 67, U.S. (2,4) 68, U.S. (2,4) 69, U.S. (2,4) 70, U.S. (2,4) 71, U.S. (2,4) 72, U.S. (2,4) 73, U.S. (2,4) 74, U.S. (2,4) 75, U.S. (2,4) 76, U.S. (2,4) 77, U.S. (2,4) 78, U.S. (2,4) 79, U.S. (2,4) 80, U.S. (2,4) 81, U.S. (2,4) 82, U.S. (2,4) 83, U.S. (2,4) 84, U.S. (2,4) 85, U.S. (2,4) 86, U.S. (2,4) 87, U.S. (2,4) 88, U.S. (2,4) 89, U.S. (2,4) 90, U.S. (2,4) 91, U.S. (2,4) 92, U.S. (2,4) 93, U.S. (2,4) 94, U.S. (2,4) 95, U.S. (2,4) 96, U.S. (2,4) 97, U.S. (2,4) 98, U.S. (2,4) 99, U.S. (2,4)

上周谜题答案

Killer Suboku (杀手数独)

如需查看前几周的谜题，以及与其他作者讨论策略，请访问 WSJ.com/puzzles。

Product Placement (产品植入)

如需查看谜题解答，请前往 Cracking The Cryptic YouTube 频道的《华尔街日报》播放列表。

I Get You Bake (我为你烘焙)

Lost in the Shuffle (洗牌中的迷失)

成本可能会回到洗牌阶段直到发现，所有她的套装和额外部分都已呈现。阴影字母用于拼出：THIS IS YOUR CARD! (这是你的牌！)

报纸周末谜题

编辑：MIKA SHENK

新闻测验答案：1B, 2C, 3B, 4C, 5A, 6D, 7A, 9D

Military Dress (军装)：作者 Alan Derkassman

[此处为拼字游戏/填字游戏线索列表，包含以下内容：] 1. 海报、玩具或装扮冒险 2. 所有权的娃娃 Subtle's dogs 办公/办公室 1A 周三 2D 脏 9000 人的组合 25 Pocsons 25 汽车 25 法院 掠夺 26 应对 舌头 26 McNair-iron 27 2000 岭内 贪婪或块状 28 电影导演，Dirty 之母 29 枪 2000年代 30 基数/红衣主教 32 复杂/精巧 简称 scept. 36 部分健身设备 36 枪犬 40 每人 40 “生命”、“男性”以及到处可见的“男性” 40 火焰 “不要” 变成 “不要” 40 “伤害” [重复项，OCR 损坏]

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34 | 星期六/星期日，2020年8月8 - 9日

评论版 《华尔街日报》

面对那些要求苛刻、难以对付的客户？就在我们办公室举行一次关键会议的那天，我称赞了我的直销代理人们，因为他们真的很友善。

嗯，糟糕的行为是可以习得的。我相信孩子会模仿你的行为，而不是听你的教导。

我同意。有一天我们去餐厅用餐，我们 all 走到了后面的厨房，只是为了向在那里工作的员工打招呼并表示感谢。当你看到街上那些人们，当你把钱递给他们时，不要让他们感到受辱。

许多研究表明，一个人拥有的钱越多，其共情能力反而越低。这是为什么？

对金钱过于竞争是有害的。还有一个事实是，30 到 40 年前，我们对此毫无概念。

赢得你的运气

布鲁内洛·库奇内利谈古代哲学与恶作剧

这位“静奢风”之王谈富人的谦卑，以及他为何对人类仍抱有希望 作者：Bruce Petronson

对于那些在财富带来的无数问题中探索浮夸地位象征的所有亿万富翁，我有一个消息。你们许多奢侈的外观可以追溯到亿万富翁布鲁内洛·库奇内利（Brunello Cucinelli）。库奇内利的奢侈服装品牌采用棕褐色和灰色的柔和色调，摒弃了闪闪发光的装饰。不了解情况的人可能会对一件羊绒丝绸毛衣售价 $21,400、一件夹克售价 16 亿美元 万的价格感到惊讶——但这并没有影响销售。该公司目前在 40 个国家拥有 160 家独立门店，去年的营收达到了 16 亿美元 billion。

现年 72, 岁的库奇内利在意大利中部贫困的环境中长大。小时候，他在学校学习和在田间耕作之间分配时间。到 24, 岁时，他辍学离开工程学院去研究哲学并从事模特工作。1979, 年，当他决定为女性制作大地色系的羊绒毛衣时，一位资深专家说他“疯了，竟然让顾客穿这些颜色的衣服”。库奇内利决心尝试，借钱购买了 20 公斤大地色羊绒，制作了 60 件亮色毛衣。这些毛衣很快被抢购一空。

如今，他在意大利的索洛梅奥（Solomeo）领导该品牌。他以从古代哲学家那里汲取的“人文资本主义”来经营业务，在交谈中他会随口提到这些哲学家的名字。库奇内利将他的工作和生活信条归功于马可·奥勒留，后者认为你应该始终像对待生命的最后一天那样生活。

请谈谈您系列中的大地色。为什么您的许多面料都是棕褐色、土色或“山羊色”？ 美、秩序、丰盈，这些是基础。但最重要的是与自然和谐共处。哲学家曾说，万物皆源于大地。当我还在田里除草时，我的父亲会告诉我：“垄沟必须是直的”，原因就这么简单。

谁是第一个支持您的服装品牌的人？ Barneys 的巴尼·普雷斯曼（Barney Pressman），他在 35 年前第一次将我的商品陈列在纽约的店窗里。那是庄重且充满尊重的，而且我们经常开玩笑。开玩笑和恶作剧必须是令人愉悦的，显然不能是贬低人的。我会开一些实用主义的玩笑。绝不冒犯，始终保持尊重。开玩笑是一件非常快乐的事情。人们不再爱开玩笑了，因为有了 AI，就没有了幽默。

您凭借自己的直觉和动力提出了一个原创想法并创建了一个平衡的品牌，这算是运气还是精明？ 我认为人生分为 3 个阶段。第一部分直接继承自父母。第二部分是天命，是命运。然后是我，由我自己塑造。我一直试图在天命、命运和我能做的事情之间寻找一条路径。

您提到过，您信任员工的方式源于您的父亲在一家混凝土制造厂受到对待的糟糕程度。您想做相反的事情。 你不应该在 5:30 之后发送任何与业务相关的电子邮件，因为你有自己的生活。这意味着专注。我们需要工作合理的小时数，以便为家人、自己的需求、朋友和自己留出时间。我们全部在 8 a.m. 开始工作，每个人在 1 p.m. 准时休息一个半小时，然后从 2:30 到 5:30——就这么多。但我们的工作方式非常集中。否则， 30% 的时间会被浪费在无意义的事情上，而没有时间留给真正重要的人。

您认为金钱是否简单地改变了人们？ 你如何对待他人，就刻在人类的灵魂之中。我承认拥有金钱往往会让人变得傲慢。但无论如何，我相信人类的灵魂是善良的。我也相信大多数人的善良。这就是为什么我很困惑，为什么有钱的人会改变他们的行为，并采取一种认为某些人作为人类比其他人更优秀、地位更高的一种信念。

你知道有多少愿意倾听的病人？并不多。毕达哥拉斯曾记录在名为《金色的声音》的篇页中，在其中他给出了关于如何过上美好生活的建议。其中有一条特别触动了我，它告诉我们，在睡觉之前，回顾你这一天所有的经历。如果你做了好事，或者令人愉悦的事，记录下来；如果做了坏事，报告出来。如果你行为不端，你还能安稳入睡吗？对于你的销售人员，当他们面临……时，你有什么建议？关于某人拥有多少钱，而现在我们所知道的事实则加剧了竞争。我们需要回归到人类的基本议题，比如伟大的政治、伟大的家庭以及宗教或精神领域。我们必须重新相信强大的理想。我不知道你如何说服那些与中国竞争的美国首席执行官们在办公室里变得具有人性。我们如何才能变得更像人，而不是被这项技术所淹没？我们如何将自身纳入技术方程式中？如今人类在灵魂塑造中所挣扎的是什么。你是否担心后代子孙的未来？我 72 岁了，我经历了传真机的出现，经历了电子邮件，当时一切看起来都如此疯狂，但我相信人性。就在昨天，我还与我的孙辈们在一起，当你面对就在眼前的未来时，你不能不将其视为光明的未来。我 25 岁的孙女对我说：“当我开始在你的公司工作时，我要做的第一件事就是立刻开除你。”本次采访经编辑以缩短篇幅并提高清晰度。杰作 / 《舞之邀请》（1950），由吉恩·凯利（GENE KELLY）创作

跃入电影舞蹈

作者：ROBERT S. MACK

如果人们还记得米高梅（MGM）的电影《舞之邀》（Invitation to the Dance），那大概是因为其中的“希巴的故事”（Sisbah the Sides）：这是三个短篇故事之一，在其中，动作流畅的吉恩·凯利（Gene Kelly）在一部以里姆斯基-科萨科夫（Rimsky-Kovachev）为该传奇讲述者命名的配乐卡通幻想片中，与一个动画角色共舞。虽然该片段在当时是技术上的突破，但许多人将其仅仅视为一种历史好奇心，甚至将其视为 50 人的好奇心。虽然拍摄的表演通常显得呆板，但作为一名在大学期间发现《舞之邀》的专业芭蕾舞演员，这部作品一直让我觉得它是电影与舞蹈能够令人难忘地结合的典范。在米高梅音乐剧传奇制片人亚瑟·福特（Arthur Foord）的支持下，《舞之邀》依然是一部学术上的盛宴，也是电影舞蹈表演的一次低估。

在好莱坞音乐剧的早期几十年里，芭蕾舞至多是一门次要艺术，尤其是与盛行的踢踏舞相比。电影将芭蕾舞视为一种敷衍的高雅文化，例如聘请像乔治·巴兰钦（George Balandrian）这样的人为 1939 年的电影《黄金跟随》（The Goldwyn Follow）创作简短的节目。许多对芭蕾舞的挑衅性探索包括《红色表演》（The Red Show），但那部 1940 年的英国戏剧中，舞蹈并非其主要的叙事媒介。

自职业生涯开始以来，凯利一直在推动电影舞蹈的发展，他执导了自己的第一个片段，并在 1940 年电影《封面女郎》（Cover Girl）的“爱丽丝之我”（Alice Ego）舞蹈中尝试了双重曝光。在开始与斯坦利·杜马斯（Stanley Dumas）合作导演后，凯利在《在城里》（On the Town）、《岩石中的歌手》（Singer in the Rock）以及文森特·曼内利（Vincenti Mannelli）执导的电影《巴黎美国人》（An American in Paris）中，编排了包含“故事中的故事”的舞蹈片段。但凯利的记录和影响力无法消除米高梅对其激情项目商业可行性的担忧。虽然他希望专注于导演工作，但制片厂坚持要求他与他挑选的芭蕾舞演员阵容一起出演该片。

《舞之邀》以《马戏团》（Circus）开始，凯利饰演一名向一名美丽表演者追求的表演者，后者由克莱尔·桑巴特（Claire Sombart）饰演，而她自己则爱上了一名被分离开的空中飞人，由伊戈尔·范登比希（Igor Vandenbich）饰演。桑巴特和范登比希在一段令人心碎且充满渴望的舞曲中幽会。随后，她发现凯利正拿着她留下的斗篷，但当范登比希发现他们在一起时，悲剧发生了。这无疑是电影中技术上最复杂（halvety）的片段，凯利在运用其全部专业知识的同时，明显延伸了他的艺术造诣。他采用长镜头拍摄，使舞者在画面中保持完整，且不受当今常见的跳跃式剪辑的干扰，他准确地知道如何捕捉舞者的线条和动作的自然流动。

第二个片段《环绕罗伊》（Ring Around the Roey）——基于亚瑟·夏茨勒（Arthur Schatzler）关于婚姻不忠的剧作《圆舞曲》（La Ronde）——更具讽刺意味。它以一个麦格芬（MacGriffin）为线索，这是一个金手镯，在纽约生活中各阶层的情侣之间传递，场景以极简主义艺术呈现。凯利创作了爵士风格且感性的舞蹈，配合普雷斯顿（Preston）的配乐，其中穿插了由普雷斯顿本人创作的各种键盘色彩点缀的离调音。这组全明星芭蕾舞演员阵容在片中出现的时长超过了当时好莱坞电影的典型时长。在其中一个片段中，巴黎歌剧院工作室的克劳德·布伊（Claude Booey）饰演一名模特，被她的追求者追求，并以最喧闹的市中心方式吃三明治。在另一个片段中，巴兰钦的追随者戴安·亚当斯（Diane Adams）饰演一名嫉妒且悲剧性的芭蕾舞女。在结尾部分，蒙特卡洛俄罗斯芭蕾舞团的传奇人物塔玛拉·特罗斯马诺娃（Tamara Trosmanova）饰演一名在灯光下起舞的街头女郎。在《环绕罗伊》中——与《马戏团》不同——凯利采用了动态摄像机运动，但这种运动成为了舞蹈的一部分，而没有引起不必要的注意。

最后一段序列《Sisbah》让电影在较轻快的基调中结束。凯利此前曾将真人实拍与动画相结合，在1945年的电影《Sisbah's enough》中与Jerry the Manus共舞。但要让一名真人舞者在完全由绘画构成的景观中与一个动画人物搭档，且周围的秋叶以慢动作飘落，则是另一项完全不同的艰巨挑战。艰苦的动画制作和合成过程涉及与舞者卡罗尔·哈尼（Carol Haney）数月的额外排练和拍摄，她是Schale的真人模特。《Invitation》是电影舞蹈领域的一项成就，它摆脱了现场表演在空间和时间上的限制，在没有对话、歌词或旁白的情况下讲述故事。尽管凯利才华横溢，但他本人并非技术最顶尖的舞者，但他编排的这些序列充分发挥了舞者的优势。如今，很难想象有任何主流导演能像凯利那样，让舞蹈以这种方式自我表达。影评人对这部电影评价不高，《Invitation》成为了米高梅（MGM）制作的最后几部音乐剧之一。此后，美国主流制片厂再未制作过芭蕾舞选集电影，如今该片仅在DVD上可见。凯利继续在流行文化中推广古典舞，在1946年制作了一部电视特辑《Peacings: A Man's Game》，并于1960年为巴黎Ultra芭蕾舞团编排了《The de Doux》。《Invitation to the Dance》是舞蹈界最大胆的遗产，其芭蕾舞与电影叙事的开创性融合值得被赞赏。马克先生是一位作家、电影制作者，也是大学芭蕾舞团的专业芭蕾舞演员。

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寻找快感 用能量饮料替代咖啡是什么感觉

休息时光 华尔街日报

民众的混合动力 畅销的 RAVIA 测试农场表现，以查看全汽油选项 D6

时尚 / 美食 / 设计 / 旅行 / 装备 / 文化 / 健康 2026年8月8 - 9, 2026，星期六 / 星期日 / D1

作者：Lene Fenneman

加热的石地板。覆盖着丝绒与羊绒混纺面料的墙壁。一套基于昼夜节律的照明系统，用以缓解时差。这些都是 Bend 舰队中每架飞机即将配备的超豪华设施，Bend 是一家提供私人飞机访问权限的新会员俱乐部。购买 Bend 喷气机的一份股份至少需要 $3700万，另需支付额外费用。尽管该公司直到明年才会开始飞行，但已经签约了 130 名会员。

目前美国有约 430,000 户家庭资产在 3000万美元 或以上。随着千万富翁数量的增加，为那些希望避免商业旅行之不便的高净值人士提供的服务也随之增加。根据航空服务公司 Argus Triaypak 的数据，1月至6月期间，每月平均起飞的私人航班为 295,350 架，比 2015, 年同期增长了 15.4%。

根据航空分析公司 Cotsun 的数据，2026年1月至5月，纽约与洛杉矶之间单程头等舱机票的平均价格为 $974, 不含税费。对于许多想要放弃商业飞行的人来说，拥有私人飞机是不切实际的。根据追踪航空业数据的 Jetnet 旗下 IRI 的资料，小型喷气机（如 7 至 D 座的 firebear Phenom 500）的价格约为 8100万美元，而此类规模飞机的年度维护、人员配置和其他费用可能还会增加 100万美元。

无论是新公司还是老牌企业，都在提供不同价格区间的其他选择，从碎片化喷气机所有权到 Pleasantumtoyage D6 内部

一款恰到好处的葡萄酒 Langhe Noblest 既不过于厚重，也不过于紧绷——且能与任何食物搭配 D9

并非普通的乔 读者分享当地美食，包括新泽西州北部的一款 slayey 冰品 D4

大胆尝试 Chucky 围巾是一款可以为简单装扮增添格调的配饰 D2

内华达州雷诺 一次深思熟虑的翻新让太浩湖地区的一栋房屋回归其根源 D7

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02 ... 华尔街日报。

风格与时尚

是时候增加一些分量了

女性的小尺寸手表因其精致而备受推崇——但更大、更厚重的款式则传达出一种不同类型的女性气质。以下是一位爱好者如何驾驭这种更粗犷选择的经验分享。

作者：RACHEL BEGGER PERRY

在我今年早些时候参加的 Watches & Wonders 表展上，包括 Breguet、Patek Philippe、Audemars Piguet 和 Hermès 在内的品牌推出了微型新表款或经典款的缩小版。这是该展会上最显著的“微小”趋势。

我手腕上戴的那块 40 毫米不锈钢黑面 Rolex Submariner 让我觉得自己与当下的流行脱节了。那块更厚实的手表——也是我的理想尺寸——和我父亲戴的是同一款。虽然它不像有些表那样巨大，但依然占据了我手腕的大部分空间。它的分量感传达出一种稳重、胆识和某种存在感——当我戴着这块表时，它总是比我早零点几秒进入房间。

尽管一些公司正将缩小版推向聚光灯下，但其他品牌则抵制这种席卷行业的“缩水”趋势。Panerai 以大尺寸作品著称，其最小款的表盘直径为 38 毫米——这个尺寸在许多竞争对手看来依然算大。该品牌的一位代表告诉我，许多女性客户正倾向于选择更大尺寸的型号，有些表壳直径高达 40 毫米。

我理解为什么那些女性会选择这种尺寸的手表。如果说微型手表像是一个得体的标点符号，那么厚实的手表则宣告了一种既想保持女性气质又不愿失去力量感的愿望。把它们想象成声明款鞋子（statement shoes）——一件能为简单装扮增添个性的单品。

我喜欢将我的手表戴在衬衫袖口之上，几乎像一只手镯，或者搭配那些能凸显女性化与男性化之间张力的服装。例如，在 T 恤外叠穿一件大号纽扣衬衫，搭配一件丰盈的中长裙和芭蕾平底鞋，或者一件干练的及踝连衣裙。将一块大表盘与精简的 LBD（小黑裙）和高跟鞋并置，有一种迷人的魅力，尤其是当你并不打算下到比地铁站更深的地方时。

右侧是一组足够干练、可用于日常佩戴的厚实手表选集。

在寻找更小尺寸？

为想要加入微型趋势的人准备的缩小版手表

Hermès H Mini Model，23mm，$3,675 Audemars Piguet Royal Oak Mini Quartz，22mm，$38,400 Tiffany & Co. Union Square，20mm，$3,900 Cartier Tank Louis Cartier，24mm，$9,300 Tissot Lovely Round，19.mm，$400 Pascal Deal Bubble Diamond，24mm，$100

照片：RACHEL BEGGER PERRY

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THE WALL STREET JOURNAL. ... 周六 / 周日，2016年8月8 - 9日 / D3

饮食

咖啡因充足 这些外观时尚、高咖啡因且零糖的罐装饮料承诺在营造健康氛围的同时，帮助你集中注意力。营养标签并未披露三氯蔗糖的含量。但今年，联邦卫生官员敦促限制人工甜味剂的摄入量。一份政府报告随附的新指南引用了相关研究，将糖替代品与心血管疾病和2型糖尿病等疾病联系起来。“零糖并不意味着在代谢上是中性的，”Kumar表示。Celsius的一位发言人表示，美国食品药品监督管理局（FDA）已认定三氯蔗糖在预期用途中是安全的。对于其中大多数饮料，人工香精在我的口中久久不散。然后我尝试了Alan's Na的棉花糖味，Celsius Holdings的首席品牌官Kyle Watson表示这是最受欢迎的口味。这可能是我尝试过的最甜的东西。在四小时内喝完两罐Celsius（Cebid?）后，我进入了一种可以用“欣快”来形容的状态。

认购一种“能行”的态度

我们的作者将咖啡习惯换成了咖啡因——超强能量饮料。他差点失去了理智。 作者：Janet Weston

“我对咖啡因的耐受度很高，”我在打开一罐 Celsius 时对伴侣说，“这些可能对我没什么影响。”我是一个咖啡成瘾者。作为一名澳大利亚人，这是法律要求的。我每天喝拿铁。但最近，能量饮料的召唤已变得无法忽视。走进大多数杂货店或健身房，你会发现一墙光滑的罐装饮料，其咖啡因含量大约相当于三份浓缩咖啡，零糖，并承诺加速新陈代谢。这些饮料采用时尚的淡彩色包装，为一整天高强度健身和进行改良普拉提提供动力。在一种痴迷于优化的文化中，这些饮料旨在帮助你完成一切——同时拥抱健康氛围。Celsius 的罐子上写着“Live Fit”（健康生活）。Bloom 则承诺让你“绽放出最好的自我”。如今，你在西村看到一个拿着这种“火箭燃料”的女孩，就像看到一个骑着单车的骑手或一个熬夜的游戏玩家一样常见。能量饮料已经普及。

“在我看来，Celsius 是一种生产力象征，”27 岁的纽约公关人员 Natalie Bochi 说道，“我想，喝一罐，我就能把工作完成。”能量饮料比以往任何时候都更受欢迎。根据《饮料摘要事实书》（Beverage Digest Fact Book），2005 年的销量比 2001 年增长了 42%。Celsius 及其同品牌 Alan's Na（“Na”代表“营养”）引领了一波时尚饮料浪潮，符合人们对蛋白棒和 Zym 尼古丁袋等功能性产品的广泛需求。

除了大学时期几次令人遗憾的红牛体验外，我从未饮用过能量饮料。但我唯一比热爱咖啡更热爱的是赢——我担心那些光彩照人、高效能的千禧一代正获得巨大的优势。因此，在接下来的一周里，我用一系列品牌的罐装饮料代替了拿铁。我总共喝了 16%。到周中时，我几乎失去了理智。

无糖，最大咖啡因

如果你在招募一个人来销售健康产品，我的健身教练会是一个绝佳选择。所以，当我在一节又一节的课上看到这个充满活力的形象拿着一罐气泡奇异果番荔枝味 Celsius 时，我半开玩笑地想：“也许这能让我变成那样。”最合理的做法是从他最喜欢的口味开始。我喝了一口，被那种让人咬牙切齿的甜味震惊了。它让人想起像 Thimblex 草莓那样的糖果。之后，我的牙齿感觉有点发麻。但我兴奋不已——我简直可以在走廊里翻跟头。相反，我飞快地敲击键盘。

我假设每喝一杯平时习惯的双份浓缩拿铁，就可以喝一罐 Celsius。事实是，一罐 12 盎司的 Celsius 或 Alan's Na 含有 200 mg 咖啡因——比两罐红牛或五罐红牛小罐少 20 盎司，比我的每杯拿铁多约 50-80 mg。Celsius 的标签注明每天饮用不得超过两罐。威尔康奈尔医学院（Weill Cornell Medicine）临床医学副教授 Robin Kumar 博士表示，大多数健康成年人每天可摄入高达 400 mg 咖啡因。研究支持这样一种观点：咖啡不仅让我们更警觉，还具有抗炎、神经保护和代谢益处。

如果你还没听说过，这些饮料不含糖。它们添加了三氯蔗糖，这是一种人工甜味剂，根据美国食品药品监督管理局（FDA）网站的说法，其甜度大约是食糖的 600 倍（没错）。

甜美的咖啡因

本专栏作家饮用的难忘口味品鉴笔记：

Alan's Na 棉花糖味： 完全像游乐场的甜点。可能是你尝过最甜的东西。

Celsius 桃子芒果绿茶味： 一款简单的、无负担的桃子茶。

Joggy Solar 芒果味： 清爽——像是一款口味浓郁的气泡水。

Gorgie 气泡野莓味： 想象一下将瑞典鱼糖浸在气泡水中。比其他口味没那么甜。

Monster Energy Zero Ultra： 像柠檬味的雪碧。

尝过的所有饮料中最难喝的一种——这也是唯一一款我没能喝完的饮料。尽管如此，罐身上的粉色气泡暗示这是一种无需愧疚的享受。零糖！含维生素！无麸质！当我询问 Watson 是否认为白兰地饮品属于健康产品时，她表示并非如此，并补充道：“当人们在寻找高端且零糖的能量补充时，我们会成为他们的选择。我们含有必需维生素。”Watson 将此称为“功能化营销”（function-manning）。

On the Moon

Jake Breed，25岁，在洛杉矶拥有一家零食公司，他对自己的饮食非常谨慎：肉类、蔬菜、米饭——以及Celsius。他喝这些饮料是因为它们比他尝试过的任何其他产品都能提供更强烈的刺激感。我觉得我的大脑像是被静默的烟雾笼罩。诚然，这种情况经常伴随着头痛——Kumar表示这可能是由咖啡因剂量的变化引起的——以及轻微的牙齿酸痛。两杯饮料让我感觉最像我的健身教练。Joggy的太阳芒果味非常清爽。这是少数含有糖（来自果汁）而非三氯蔗糖的饮料。我最喜欢的Celsius是甜度适中的桃芒果绿茶，在跑步前喝掉它会让我的运动鞋像装了弹簧一样。一周过半，我意识到人们为什么会对这些饮料上瘾。在四小时内连续喝掉两罐Celsius（Cebid?）后，我进入了一种可以用“欣快”来形容的状态。几天后，我又回到了狂饮拿铁的状态。我想念咖啡的味道以及它带给我的感觉。我们这里说的不是Red Rinsed。对于一个坐在整理椅上工作的人来说，我基本上已经在进行“功能化管理”了。

--- 04 / 2026年8月8日 - 9日，星期六 / 星期日 ... 华尔街日报。 # 饮食

丰饶的美国

在我们发布了一篇关于美国地区美食的测验后，读者们向我们发送了大量他们心目中必须添加到名单上的家乡特产。

作者：AAAA

CANNULIS

新泽西州南橙市 Town Hall Policymers 的 Slappy Joe 三明治，可能和你想象中的版本完全不同。它既没有出现在学校食堂的禁令名单上，也没有番茄酱和碎牛肉那种容易弄脏衣服的威力。相反，它是一款双层三明治，包含两种厚实的肉类、瑞士奶酪、芹菜根和俄罗斯酱，全部精巧地层叠在薄黑麦面包片之间。对于北新泽西州来说，这就是正宗的 sloppy joe。

尽管距离仅 20 英里，直到最近我才知道它的存在。此前，在我 6 月份准备的一篇关于美国地区美食的测验中，许多热情的粉丝给我写信。来自新泽西州莫里斯敦的读者 Damon Leonell 将新泽西 sloppy joe 描述为“美味但并不适合胆小的人”。据传说，这款三明治的灵感来自古巴哈瓦那一家名为 Sloppy Joe's 的酒吧。这是人们写信告诉我、但在测验中未被提及的几道菜肴之一。

爱荷华州的 Maid-Rites 和罗德岛州的 Johnnycakes

有些食物对我来说很熟悉，比如 Maid-Rites，或者在爱荷华州被称为“散肉三明治”（loose-meat sandwiches）的食物。Maid-Rites 更像学校食堂里的 sloppy joe。这种碎牛肉三明治装在柔软的面包卷中，顶部配以芥末、酸黄瓜和生洋葱。

罗德岛州著名的玉米粉煎饼 Johnnycakes 是读者提到的另一道我已经品尝过的菜肴：（我的家族在那个州有根基，所以我知道一些纯粹主义者更倾向于将其称为 Jannycakes。）

中西部的砂锅菜（Casseroles）

一些俄亥俄州人坚决要求我尝试 Johnny Marietti，这是一种由碎牛肉、香肠、面条、番茄酱和奶酪组成的奢华砂锅菜。它与俄亥俄州哥伦布市相关联，代表了中西部更广泛的砂锅菜文化——紧随其后的是读者告诉我的另一种俄亥俄州美食：Buckeyes，这种州级特产是花生酱和巧克力制成的软糖。

然后是 Hot Dish，这是明尼苏达州官方的慰藉美食，但没有官方食谱。大多数版本在印第安纳州很流行。来自爱荷华州达文波特的读者 Louise Hales 向我推荐了她家附近一家名为 Filling Station 的餐厅的版本。“猪肉的大小通常至少是面包卷的两倍，”她说。

Hales 还告诉我关于 Burgos 的事，这是一种慢炖的肯塔基州炖菜。从历史上看，它使用家庭能猎到的任何蛋白质制作。如今，食谱通常要求使用炒褐的碎牛肉、蔬菜、罐装浓缩奶油汤（蘑菇或鸡肉）以及顶层的 Tater Tot（炸薯球）。但在明尼苏达州的年度州博览会上，它也会被做成油炸串。

肯塔基州 Burgos 炖菜和夏威夷 Lau Sau

我在测验中提到的油炸食品包括炸猪里脊三明治，而新泽西的 sloppy joe 可能受到了古巴酒吧三明治的启发。

左图是新泽西 sloppy joe，与食堂经典款完全不同。尝试一下 Hot Dish、alcoa 或下方的 Maid-Rite，感受中西部风味。其他读者的选择包括左下角的 Burgos 和右下角的 Lau Sau。

在邮件中提到的最遥远的食物是 Lau Sau。这是夏威夷的一种猪肉和鱼类菜肴，用塔科叶包裹并蒸熟。虽然我很想飞过去尝试，但我和编辑决定先从一段较短的旅程开始——前往新泽西州，品尝它的 sloppy joe。

就像许多地区性美食一样，这种三明治给人的感觉是固执地坚守传统。虽然有些变体使用了火鸡肉、烤牛肉、熏牛肉和其他熟食店肉类，但在拥有 89 年历史的 Town Hall Policymers 餐厅，原版三明治依然是用火腿和 beef tougar 制成的。后者现在越来越难以寻觅——而这恰恰是值得专程前往品尝的原因。

保持资讯领先，以实现卓越表现。让您的团队掌握影响底线的趋势、市场和竞争动态。通过企业订阅推动您的业务前进。访问 CORPORATE.WSJ.COM / STAYINFORMED 华尔街日报。这就是您的业务 © 2026 道琼斯公司。保留所有权利。08 / 23 / 26 --- 华尔街日报 ● ● ● ● D5 # 精选航程最高 50% 折扣 立即预订。限时优惠。 # 超越熟悉之境 世界上仍有能令您惊喜的地方。探索 Oceania Cruises 的热带与异域航线，发现下一个目的地。一如既往，每场航程均包含所有特色餐饮、船上小费和免费 Wi-Fi，此外还可选择按杯计费的葡萄酒和啤酒或岸上观光抵用金。沉浸式行程 / 私密豪华船舶 / 真诚款待 / 海上最顶尖美食® Anil, Outback & Dragon 劳托卡至巴厘岛 18 天 / 2026年10月30日 / Oceania Riviera 40% 折扣 Outback Bysops 悉尼至悉尼 12 天 / 2026年12月3日 / Riviera 50% 折扣 Panama Puppoori 迈阿密至巴拿马城 10 天 / 2027年3月5日 / Marina 30% 折扣 # CRUISES® 844-837-1324 / OCEANIACRUISES.COM / WJ / 联系您的旅行顾问 条款、条件、限制和容量控制适用。最高 50% 折扣优惠有效期为 2020年7月15日 至 2026年8月31日，适用于选定类别或选定设置，可能会有变动且受容量控制。请提及 Exits 3. 请访问 www.OceaniaCruises.com 查看完整条款与条件。A0620000 扫描探索特别优惠。 --- 06 / 星期六 / 星期日，2026年8月9 - 9日 ... 华尔街日报 # 无摩擦飞行 从喷气机共享服务，到允许您在主要机场预订私人航站楼的项目。这些共同增加了私人飞行——或足够私密飞行的途径。 ## 私密私人飞行俱乐部 Bond 创始人 Bill Papariello 在创立了另一家公司，即包机公司 Jet Edge 之后，启动了他的新航空业务。他将 Bond 定位为 NetJets 和 Finges 的替代方案，后者是数十年前使分时所有权喷气机普及的公司。这种模式让人联想到分时度假。您在分担一架飞机的所有权，并被保证在该飞机上拥有一定的使用时间；作为共同所有者，还享有包括税收抵免在内的额外福利。Papariello 表示， 成员的 1 号要求是喷气机的共同所有者数量要少于其他公司。 的飞机最多只有 8 位所有者，而 Finges 和 NetJets 每架飞机的所有者数量可能是其两倍。当 明年开始执行国内和国际飞行时，将有 18 架庞巴迪喷气机投入运营——这一数字旨在增长到 120 架。机队包括较小的 Challenger

对于许多想要避开商业飞行的人来说，拥有私人飞机是不切实际的。小型喷气机可能耗资 1400万美元。800b，中型 Global 600m 以及更大的 Global 8000亿。Finges 目前其网络中有 340 jets，而 NetJets 则有 1,100. Their Ours 包括庞巴迪飞机和其他型号。为了维持 Bond 的飞机与所有者比例，Papariello 规定每年接受的新成员不超过 100 名。Finges 拥有约 1,000 customers，NetJets 同样拥有数千名客户。并非所有人都是部分所有者；两家公司都提供无需所有权即可乘坐私人飞机的方案。前 Euro Capital 主席 Steve Pagliuca 是 Bond 首批 110 members 之一，他们所有人同时也是该公司的投资者。每人投资在 $500,000 和 $2500万 之间。目前在佛罗里达州棕榈滩经营其家族办公室的 Pagliuca 表示，他喜欢该公司对部分所有权的精细化处理方式。“这种模式已被证明在财务上可行，但它现在是建立在大众需求和大规模规模之上的，”他说。“我投资 Bond 是因为我相信定制化体验优于规模的概念。”

私人飞机拼座（Jetpools）的 WhatsApp 群组和群聊已成为人脉广泛者交易私人飞机座位的常用方式。一些公司现在正在提供这些熟人社交聊天室的正式版本。其中包括成立于 1995. 的私人航空公司 Jet Line。最近，Jet Line 推出了一项计划，允许其 12,000-plus members 向其他成员发布航班空位的广告——这为前往同一目的地的人们提供了一种拼座方式，而不是乘坐多架独立的航班。“我不想把它称作约会软件，但这有点像在做媒，”Jet Line 执行主席 Jamie Walker 表示。

拼座业务中一家较新的公司是 Beraize，由 Harrison Epstein 和 Luke McNees 创立，Epstein 在从事了 15-year 金融职业后转向航空业，曾担任 Diplo 的巡演经理。Epstein 表示，Beraize 旨在成为“$1,000 first class seat 与 $30,000 as hour charter 之间的中间地带”。当他在机场等待商业航班并看到一架私人飞机在停机坪上怠速时，这个想法击中了他。“我想，我现在愿意付钱登上那架飞机回家，”他回忆道。为了获得航班，成员需预订商业机票或提交行程请求。当私人航班与他们的行程匹配时，Beraize 会通知他们（该公司期望成员在必要时自行修改其商业旅行计划）。有时，航班是共享的，有时成员单独飞行，例如当他们的行程与一架空机一致时。

Red Mar-Pherson 表示，他乘坐 Beraize 的大多数航班都是单独飞行。Mar-Pherson 是一位在迈阿密工作的营销战略家，他每月乘坐四到五次航班，其中一次通过该公司预订。他补充说，Beraize 也有权衡之处。“通常你会发现价格上有一个绝佳的机会，但它只是单程。很难找到往返双程。”

Uber 模式

当 Uber 联合创始人 Garrett Gamp 在 2015, 启动他的航空创业项目 Astra 时，他将这家共享出行公司的元素引入了私人飞机领域。即可访问性——就像 Uber 一样，任何人都可以看到 Astra。没有会员费，也没有申请流程。你可以通过其应用程序或网站，预订其七架喷气机之一的座位，这些飞机由湾流（Gulfstreams）和巴西航空工业（Embraers）混合组成，座位数在 8 到 16, 之间。Aero 首席执行官 Ben Klein 表示，其目标客户包括

向上，向上，且多样

从顶部起顺时针方向：Aero 是空中少数的自由之翼；洛杉矶国际机场（LAX）PS 航站楼的一餐；洛杉矶范奈斯机场（Van Nuys Airport）的一个 Aero 休息室；以及迈阿密国际机场的一个 PS 套房。“那些频繁旅行的第二套房持有者”，以及宠物主人。“能够携带你的狗是一个巨大的优势，也是很多人选择 Aero 的原因。”Eliosa Levy 经常预订往返于她位于洛杉矶和日本两地住所之间的 Aero 航班。她说该公司让修改预订变得简单，并且能容纳各种行李。“你可以携带像自行车这样难以运输的物品，”退休人员 Levy 说，“我们还用箱子运过装裱好的画作。”

为商业航班乘客提供的私人绿洲

私人飞机服务的基本吸引力在于避开混乱的商业机场。这就是我所推测的。任何持有商业机票的人都可以预订其在洛杉矶、迈阿密、达拉斯和亚特兰大等主要机场的私人航站楼。 设施拥有共享休息室和私人套房，以及他们自己的 TSA 代理。顾客通常在香槟等饮品的迎接下，享用美食和按摩护理。当准备登机时，一名司机将直接把你送到飞机旁，距离仅 60 英尺！纽约一家科技公司的首席执行官 Shiram Parikh 通过其信用卡获得了几次 预订。他不确定是否愿意付费再次光顾。考虑到他家人的入场成本，他可能更愿意预订一家豪华酒店的套房。或者，“你可以在飞行前在那里待三个小时，”Parikh 说。亚特兰大的礼宾造型师兼 会员 Cecilia Davis 非常欣赏该公司的细致服务，例如在安检后就准备好装满瓶装饮料、果汁和水的冰箱。虽然 用户的最终目的地是商业航班，但该公司正致力于为那些希望远离人群、享受几小时宁静的旅行者提供服务。“隐私在某种程度上是极致的奢华，” 首席执行官 Amisa Belouz-And Perier 表示。

邦德（Bond）喷气机的内部。首架飞机将于明年开始执行国内和国际飞行任务。

通往私人飞行体验的路径

如何在生活中实现私人飞行。

SKECHERS 停止 及其所有 公司，通过最新的 设计，以跟上您的活跃生活方式。

共有所有权 (Blood)

核心方案

一个提供分时所有权（fractional jet ownership）的会员俱乐部。

成本

共同拥有一个庞巴迪（Bombardier）喷气机（最多 8 人共有）的价格在 $3.7 到 $1200万美元之间，外加每年 $17 到 $1200万美元的运营费用。

您将获得

每年在您指定的喷气机上执行国内和国际航班的 100 小时飞行时间，以及包括税收抵免在内的其他福利。

共享飞行 (Benefits)

一个在行驶相似路线的顾客之间分摊私人飞行的会员俱乐部。一次性注册费为 $2,000，Beraize 计划在 2027 年将其改为年费。会员按次付费，起价约为 $4,000。使用包括 Vista-Jet 和 Biden Aviation 在内的公司飞机执行国内和国际航班。

拼座 ()

一个可通过应用程序 / 物理转移自由使用的网站，用于在选定的与其他乘客共享的私人航班上获得座位。私人车辆接送，飞行时间平均每小时约为 $3,000。主要为洛杉矶、纽约、迈阿密、阿斯彭、克利夫兰和茂宜岛等富裕城市之间的国内航线。

私人航站楼 (Auto)

一个分布在选定美国机场的私人航站楼网络，商业旅客可以在此办理登机和候机。年费为 $1,000 到 $6,000；会员随后按次付费，起价为 $9.91。非会员可预订航站楼，每次访问起价为 $1.295。提供无需排队的 TSA 安检和其他便利设施，包括彻底的清洁服务并直接送至您的商业飞机旁。

Copyright © 2026 by KENNEDY AND KENNEDY --- 华尔街日报。... 周六 / 周日，2016年8月8 - 9日 / D7

设计与装饰

客厅

“我们想要舒适感，”劳拉（Laura）说道。“我们选择的所有东西都需要符合那种良好的、惬意感觉的标准。”一个胡桃木框架的吊顶让客厅显得更加整洁。“它真正地稳固了空间，并让整个家有一种被包裹的温馨感，”勒加斯（Legeas）说道。客厅的家具——一件采用 25k × 45m 变体羊毛材质的棉质肾形沙发，以及一把由乔·科隆博（Joe Colombo）设计的复古 Milder-toys 扶手椅（约 $35,000）——需要与这座房子的过去相呼应。业主们寻求在引入现代元素的同时，将这座房子恢复到往日的辉煌。

必须拆除的80年代翻新

拆除“王朝”时期的翻新，让内华达州一座房屋原有的中世纪现代风格建筑重新成为主角 作者：KELLY MOORE, LUISA AND Boost Harkits

这座位于内华达州、距离卢克·图-loa（音译）约61分钟车程的中世纪现代风格房屋建于20世纪70年代。但当他们在2010年买下它时，其大部分魅力已在一次涉及米色和“王朝”时期镜面的2010年代翻新中丧失。

“之前的房子是零碎拼凑在一起的，”曾任教育工作者、现协助律师丈夫管理办公室的劳拉（Laura）说道，“布局奇怪且不实用。”

这对夫妇最初被这座房子温馨的感觉所吸引。对于有两个青春期孩子的哈基特（Harkits）夫妇来说，这是他们想要保留的特质。

建造年份：1672 地点：内华达州，太浩湖附近 面积：2,000平方英尺（主屋），2间卧室和3.5间浴室 时间线：约3年

他们寻找了一位室内设计师，旨在将住宅恢复到往日的辉煌，同时引入现代元素，以衬托其低矮的轮廓和棱角分明的屋顶线。他们聘请了来自Roswood Avenue Interiors的克洛伊·勒格拉斯（Chloe Legras），她的设计公司在内华达州里诺市和巴黎设有办公室。

她的第一步是什么？拆除80年代的翻新，让房屋原有的建筑风格成为主角。

“我审视这座房子，是为了让室内感觉统一，”勒格拉斯说道。

以下是这次改造的逐间分解，整个过程大约花费了三年时间完成。

▲ 中庭 房屋中庭原有的抬高种植池是此次翻新的灵感来源。“植物的绿意奠定了基调，”勒格拉斯说，“我们想要融入一种室内外结合的感觉！”但种植池浅色的skimpstone（音译）侧面使其看起来过时。

他们用高密度纤维水泥板覆盖，顶部铺设黑色花岗岩（材料费约$22,000），该项目由位于加利福尼亚州Traction的住宅建筑商M.D. Construction监督。中庭的改造还包括扩大三个原有的采光窗，每个窗户花费约$70,000。为此，勒格拉斯与里诺市的建筑师托德·科珀塔ワー（Todd Copertower，音译）合作。

▲ 厨房与餐厅 客厅的深色木材延伸至相邻的用餐区（勒格拉斯在此配置了一张石英岩桌子和绿色点缀的椅子），以及房屋的厨房。两处都采用了雕塑感的Jeremy Maxwell Who-INSERT灯具（餐厅灯具花费$42,000），并设有高窗和天窗。

勒格拉斯在设计时考虑了哈基特夫妇的日常生活，尤其是与孩子的用餐时间。“厨房需要极高的实用性，因为他们热爱烹饪并享受共处时光，”勒格拉斯说。她增加了手工贴砖、吧凳，并且为了增加台面空间，安装了双水槽（约$200,000）。她还加入了一些精致的触感。

“从一开始，整个目标就是恢复它，”勒格拉斯说，“当你走进这座房子，你会觉得可以自由呼吸。”

温馨且宜人 胡桃木饰面的墙壁与石英岩餐桌、绿色点缀的椅子以及Jeremy Maxwell Whitebelt设计的灯具相得益彰。

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装备与小工具

无需妥协

通过取消纯汽油车型并解决几个混合动力方面的烦人问题，丰田 RAV4 证明了提高燃油经济性并不意味着要牺牲性能。而且部分车型在纯电模式下可行驶超过 50 英里。

作者：Dan Sira。

想要相关性？各位，就在这里。这就是最关键的部分。我们的嘉宾代表了丰田 RAV4 紧凑型 SUV 的第六次设计呈现，它是该细分市场长期的销量冠军，也是美国最畅销、最受信任的家庭车型之一。宾利和路特斯是少数人的乐趣；而 RAV4 则赢得了大众的喜爱。

最新的热门之作：从 2026 年款起，所有 RAV4 均为混合动力 RAV4——丰田已经取消了纯汽油选项。与之前的混合动力车型相比，新款 RAV4 HRV 的动力有所提升（236 hp, AWD / 226 hp, FWD）。另一个衡量指标：综合油耗为 43 mpg (FWD)。对于一款出自 Teti Cooler 设计风格的车辆来说，这并不糟糕。

RAV4 的混合动力系统围绕一台 2.5 升直列四缸、Alderson 循环汽油发动机构建，采用了双行星齿轮组——一种电子控制的 CVT——以及两个集成电机，一个主要用于驱动，另一个用于再生制动 / 电池充电。AWD 车型在后轴上配备了一个独立电机，用于按需全轮驱动。

RAV4 PREV——在测试的 Woodland “级别”（847.8 / 0.4）中——首次采用了该公司最新的插电式混合动力方案。PREV 车型标配 AWD，通过后轴上的独立电机实现，将系统输出提升至高达 250 hp。这里的关键数字是纯电续航里程：EPA 预估为 52 英里。而对于更具探险精神的 Woodland 版本，由于全地形轮胎增加了风阻，该数字下降至 40 英里。

尽管我对 EPA 存有疑问，但在使用 Normal 驾驶模式、混合城市和高速公路行驶的两次电池耗尽测试中，我非常喜欢这个数字。而且这些都是高质量的 EV 英里。通常，如果车辆超过速度或负载阈值，或者牵引电池电量低于最低状态，或者驾驶员请求全功率（即使是瞬间）， 就会启动发动机。这种狭窄的运行窗口使得驾驶者很难充分利用 的效率。这真的让我很恼火。

RAV4 的 EV 模式完全是透明的；也就是说，与常规纯电动车的运行几乎没有区别。事实上，我发现自己在州际公路上以 80 mph 的速度轻快行驶，期待着、甚至渴望着汽油发动机停止运行的那一刻。但随着 EV 续航里程的数字递减，那一刻从未到来。最终，仪表盘上的驾驶模式图标从 EV 模式变为混合动力模式。这标志着引擎盖下的 2.5 升发动机已被激活。但是，在以 80 mph 巡航时，我既听不到发动机启动，也感觉不到它在运行。

“哇，这东西安静得可怕，”我

想；“为什么我的内心在呐喊？”

'26 丰田 RAV4 PHEV 提供 Sport 或 Rugged 风格，上图中的 Woodland 级别属于 Rugged 类别。它也提供 HEV 版本，见下图。

考虑到价格点，我已经做好了在车内材料和设施方面面对一些成本驱动选择的准备。丰田没有让我失望。座椅坚硬且平坦。音频系统只能说一般。但车厢的隔绝感、运动感和精致度则是更高层级的。无论你对早期 CVT 系统记得什么样的发动机轰鸣和顿挫，现在都已被放逐到了“幻影地带”。

我还想向那些解决了高速风噪的英雄们致敬。方正的轮廓为哨音和气流缓冲提供了上千个隐藏之处。然而，在 80 mph 的速度下，风噪被降低到了令人心安的低语声。

在较低速度下，例如在城市交通中，当你感觉到发动机在推动车辆的同时为 22.xSRS 电池充电时，你会听到背景中发动机轻微的轰鸣声。但是，除非你是一个经验丰富的观察者，否则你无法感觉到它在循环开启和关闭。就这一点而言，它做得非常出色。而且我们的这位“林间之友”速度快得惊人。在两个扭矩电机的帮助下，PREV 在 83 模式下起步非常利落，凭我的体感，0-60 mph 的加速时间大约在 9 秒左右。当内燃机介入时，这款车会爆发出惊人的动力。丰田给出的 0-60 mph 加速时间为 5.4 秒（汽油+电力），这将使这款工作日 RAV4 PREV 比保时捷 Maxon T 还要快。RAV4 PREV 另一个显著出众的地方是：悬架调校。前 Max-Pherom strofa 和后多连杆悬架经过升级并得到了彻底的优化。乘坐舒适度与操控性的平衡把握得很好——下一代（NEXT GEN）重新设计的丰田 RAV4 系列已经实现了电动化。路面冲击被很好地缓冲和消减，瞬态车身动作也得到了控制。全地形轮胎在一定程度上抵消了这些优点；较高的胎壁意味着在急转弯时会有更多形变，转向响应不够精准，且在高速行驶时胎噪略有增加。但整体表现并不差。我的想法是：显然，在经历了美国公众对汽车启停系统抱怨的几年之后，丰田决定通过消除这种体验来解决这个问题。启停？什么时候启停了？你听到什么声音了吗？没有，你没听到。我挺喜欢这一点的。

这种近乎方形的轮廓为风噪的隐藏提供了空间。然而，在 80 mph 的时速下，风噪被降低到了令人心安的低吟声。在 NVH（噪声、振动与声振粗糙度）方面的最大努力也反映了工程设计一款大众市场 PREV 所面临的特殊挑战。在传统的内燃机动力汽车中，运转的发动机有助于掩盖许多其他不必要的声音。而在电动汽车（EV）——甚至是在大部分时间以 EV 模式行驶的 FWD 中——这些噪音会跃升至感官体验的前景。为此，第六代 RAV4 配备了升级后的声学装甲。抱怨？RAV4 之于现代郊区，大概就像仇恨之于“生活父亲”一样。每个人都有一辆。但很少有人穿戴它们看起来真的酷。我试着数一数在去公园的路上看到的所有 RAV4，距离大约 15 分钟车程。当我数到 10 辆时就放弃了，而我离公园还远得很。我简直不敢相信，美国最受欢迎的车型之一竟然长得如此笨拙。Woodland 版本配备了 Split Home: marlund 进气格栅。Woodland 在说：什么？我是一只熊。我是一只鲨鱼。我是一只鲨鱼熊。丰田表示，Woodland 还配备了一个具有 DC 快充能力的 COSI 充电口，在理想条件下，可在 35 分钟内将电量从 30%-80% 充至 80%。这在现实中几乎不可能发生。那些渴望实现 PREV 承诺（90-80%）的用户将不得不安排家庭充电。但也没多少麻烦。我那简陋的 50 安培充电器在我早晨起床时就已经将这辆丰田完全充好电，此时它再次变得实用。

2026 TOYOTA RAV4 PHEV WOODLAND

测试价格 847.850 动力总成 插电式混合动力汽油-电力，使用 48 英寸机器，2.5 升 DOHC 直列四缸，Alderson 循环汽油发动机，电子控制混合动力 CVT 变速箱；两个集成电机-发电机，22. SRS 锂离子电池，独立后电动机（91 lb-ft）按需全轮驱动。 系统总功率 324 hp 长度 / 轴距 / 宽度 / 高度 78 / 20 / 189.9 / 74.0 / 69.1 英寸 离地间隙 8.5 英寸 整备质量 4,500 磅 制造商预计燃油效率 47 / 35 / 38 mpg 牵引能力 3,500 磅 货运容量 316 / 65A 立方英尺（第二排 / 第一排后方） © 2020 --- 华尔街日报。*** 周六 / 周日，2020 年 8 月 8 - 9 日 / 09

饮食与饮品

作者：Jason Wilson

人们对葡萄酒与油炸食品搭配的关注程度超过了实际需要。我的简单原则是：寻找一种“金发姑娘葡萄酒”——不过重，也不过轻——然后坚持选择它。多年前，当我试图寻找与红菊苣（rediechis）的完美搭配时，我发现了我的心头好——这种紫色叶菜以其强烈的苦味、土腥味和涩味而闻名，极具挑战性。一瓶年轻的意大利内比奥罗（Nebbiolo）胜任了这项任务。它那奔放的单宁、高酸度，以及樱桃、玫瑰花瓣和炎炎夏日沥青的对比基调，配合得恰到好处。一种能与红菊苣搭配的葡萄酒，几乎能与任何东西搭配。我找到了我的“金发姑娘”内比奥罗，这种葡萄主要生长在皮埃蒙特南部的朗格（Langhe）地区，它将黑皮诺（Pinot Noir）的花香和复杂性与赤霞珠（Cabernet Sauvignon）的力量和单宁结合在一起。它拥有足够的明亮酸度来搭配烤肉和奶油意面-tanera，足够的土腥味来补充蘑菇和松露，以及能与烤蔬菜和重草本菜肴和谐共处的甜味。朗格内比奥罗并不稳定，也很少被网红或名人鉴赏家推崇，部分原因是它是两种更受追捧、更昂贵的葡萄酒的“穷亲戚”：巴罗洛（Barolo）和 theo-barocco 同样由内比奥罗葡萄酿造。这些高端酒款的区别在于陈年时间。巴罗洛在上市前必须陈年至少 20 个月，而 Barbarocco 必须陈年至少 20 个月。大多数朗格内比奥罗葡萄酒的陈年时间不足一年，这使得酿酒师可以使用来自年轻葡萄园或困难地块的葡萄。但这并不

适合所有口味的红葡萄酒

不过分浓烈，也不过分轻盈，朗格内比奥洛（Langhe Nebbiolo）或许就是那款难以寻觅的“金发姑娘”式葡萄酒（指恰到好处），能与任何食物搭配。同一生产者的此类葡萄酒售价几乎总是低于 $20，且通常在 $25 以下。这就是为什么许多人将朗格内比奥洛称为“小巴罗洛（Baby Barolo）”。

这款价格适中、易于饮用的葡萄酒之所以未能大红大紫，另一个原因是葡萄酒评论家们过度使用的100分制评分量表。他们似乎在遵循一条潜规则：朗格内比奥洛的评分必须始终在 87 到 89 分之间，以便为他们那些 95 分的巴罗洛留出空间。如果朗格内比奥洛在任何其他语境下——即价格和价值至关重要的语境下——被评论，它绝不会被评分这么低。

为了验证我的理论，在过去的几个月里，我一直与朋友们分享朗格内比奥洛。我将其搭配裙牛排、猪里脊、三文鱼、以茄子为主的 Norma 风格意面，以及用新鲜成熟的泽西番茄制作的意式烩饭。即使是在我的朋友中那些坚信被过度炒作的巴罗洛的葡萄酒收藏家们也不得不承认，在夏日的夜晚，作为美食和热闹交谈的陪衬，朗格内比奥洛的感觉恰到好处。

其活泼的单宁、高酸度，以及樱桃、玫瑰花瓣和夏日灼热沥青的对比基调，表现得非常出色。 这并不意味着它们缺乏吸引力。“朗格内比奥洛比巴罗洛或巴尔巴罗科（Barbarocco）葡萄酒具有更多的灵活性、更多的清新感、更多的果味，而结构感较弱，”位于迷人的山顶村庄拉莫拉（La Morra）的 Oldoni 酒庄酿酒师 Cristina Oldoni 表示。

这款酒的价格也明显低于其他内比奥洛。虽然大多数顶级巴罗洛的起售价超过 $40——且许多售价超过 $100——而来自同一产区的朗格内比奥洛则便宜得多。

值得寻找的 4 款朗格内比奥洛（Langhe Nebbiolo）葡萄酒

So Su Vajou Langhe Nebbiolo, $20 明亮多汁，带有泥土和花香，呈浅红宝石色，伴有草莓和黑樱桃的基调。适合搭配波隆那肉酱面或肉酱料理。

So Moun , $27 活力充沛且浓郁，但口感轻盈，具有复杂的风味，带有紫色花朵、干香草、烘焙香料、覆盆子和蔓越莓的香气。其温和的单宁能提升蘑菇烩饭等菜肴的风味。

G.D. Vajou , $20 明亮多汁，带有泥土和花香，呈浅红宝石色，伴有草莓和黑樱桃的基调。适合搭配波隆那肉酱面或肉酱料理。

Oddono , $29 细腻且咸鲜，带有迷人的玫瑰和森林香气，口感丝滑且具有矿物质感，风味包括成熟红樱桃、野草莓和淡淡的香草味。可单独饮用，或搭配任何烧烤食物。

Domikino 'Marghi' , $25 清新优雅，单宁浓郁，带有紫罗兰和玫瑰的香气，风味包括石榴和成熟的大红浆果。非常适合搭配帕尔马芝士焗茄子。

** Moun , $27 ** Moun , $29 ** Moun **, $29 ** M --- D50 / 周六 / 周日，2026年8月8 - 9日 ● ● ● ● ● 华尔街日报 (THE WALL STREET JOURNAL).

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THE WALL STREET JOURNAL WEEKEND

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SATURDAY-SUNDAY, AUGUST 8 - 9, 2026 - VOL. CCLXXXVIII NO. 33

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U.S. Edition

What's News

Business Finance

● The U.S. labor market shed jobs at July, an unexpected contraction likely to reverse questions about the economy's fundamental strength at a time when it is also facing elevated inflation. A3

● U.S. stocks rose over a week capacity as a record for the S&P 500. The broad index gained 3.05 in the five markets ended Friday and in the Nasdaq and Dow rose 5.25 and 2%, respectively. B10

● OpenAI halted some work on a coming artificial intelligence model after evaluations led the company to conclude it "cannot take an critical cyber capabilities." B9

● 3G instituted hedge fund Situational Awareness, made a big bet on finance. Foundry, a private company aiming to reinvent the way chips are manufactured. B10

● Wendy's withdrew its outlook and slashed its quarterly dividend as the fast-fired chain struggles to turn its business around. B9

● Ford told car dealers that it intends to produce a four-door, gasoline-powered version of its popular Mustang for the first time. B9

● Under Armour and its revenue outlook for the year as demand for the sport/swiderland's products continued to be back. B9

Worldwide

● Iran vowed to bar U.S. Navy overtime from passing through the Strait of Moroccan part of an agreement to re-open the withdrawal, precisely its goal of curtailing America's decades-old military presence in the Persian Gulf. A3

● Turkey, Saudi Arabia and Pakistan signed a mutual defense agreement in the train for two ways to share up that security after years of upheaval in the Middle East. A3

● Sen. Bill Cassidy of Louisiana said he would vote to confirm Todd Blanche in attorney general, clearing the necessary path to lead the Justice Department. A4

● Trump vended the attempt to fire Federal Reserve governor Lisa Cook, amusing two to respond to allegations of mortgage fraud that Cook has called business. A3

● Defense University Vols issued a new U.S. security clearance of a former high-ranking Biden administrative defense official for allegedly looking classified information about Air Force Dow. A4

● Absence in a Expedia was sworn in as Colombia's president in the specifically significant city of Cali, vowing to suppress drug gangs. A3

● A group of New York City homeowners used to delay the rollout of Mayor Zelon (absorbed) a pool-a-letter tax, which applies to properties valued at $5 million or more. A3

PEGGY NOONAN

Securities to have—and it's serious. A13

CONTENTS Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10 Bonds... 10

© 2026 Dow Jones & Company, Inc. All Rights Reserved

That Teen Goes on School Range

FRANTIC: Family members reunited with children after a 14-year-old boy opened the Friday at a school outside Bangkok, killing five staff members and staying more than 20 people. The attacker, who took his own lift, had earlier shot to death his two grandparents, police said. A3

Facing AI 'Apocalypse,' Software Companies Race To Reinvent Themselves

Generative artificial intelligence is steamrollering the once booming software-as-a-service industry

By Kaye Caan

Sakil Aggarwal's timing appeared to be perfect for launching his software company in 2025. He raised nearly $30 million from investors, and by the following year, his startup, Rattin, was valued at more than $100 million.

Then along came generalize artificial intelligence that could easily automate the kind of administrative work Rattin specialized in Aggarwal tried to integrate AI, but said it felt like attaching an engine onto a horse-drawn carriage. The company textured on the book:

"If two engineers can reproduce your entire product in a matter of a few weeks, then you deserve to be killed," he said.

Generative AI is steamrollering the once booming industry known as software-ara-service, or SaaS, where customers access software over the internet, typically on a subscription basis. Saad exploded in the 2000s, as companies such as Slack and Doom raised hundreds of millions of dollars from

venture-capital firms and others went public in blockbuster 90's.

Now people to Silicon Valley are talking gloomily about the "SaxSpacalypse." AI threatens to make some software-trade obsolete, particularly those built around narrow tasks such as legal drafting, research and other repetitive work.

Shares of public SaaS companies such as Workday, Salesforce and Adobe have fallen more than 20% from their peak over the past year. IBM lost $69 billion in value in a single day in July after it issued a profit warning on customer spending shifted from software to AI hardware. Earlier this week, Halper Inc. conglomerate funding lipsons agreed to acquire workflow software company Danielle for $1.3 billion, well below the company's last private valuation of $31 billion.

Saad companies are online interest pressure to reinvent themselves. Inside boardrooms, leaders have discussed the risk that

Please turn to page A20

The One Place Where Wine Still Rules: 30,000 Feet in the Air

Vineyards are suddenly competing

for airlines' business, and fliers are all in

By Lacha Cowan Ann Access News

When Miss Franks boarded a flight to France, Calif., earlier this year, he had a few things to help pass the time two dozen bottles of wine, from Frank Rice to Saurugnon Blanc.

"It's amazing how many friends you can make on an airplane with 24 bottles of wine," said Franks, who made it his mission to open each one.

Falling out rocks at 30,000 feet in part of the job for Franks, who drove up where to serve on flights. But he has plenty of company,

thanks to one of the biggest anomalies in alcohol consumption. While wine is losing its appeal among certificated drinkers, it's increasingly the drink of choice in the air.

With sales clumping, winemakers that once turned up their noses at airlines are competing to get their best bottles on board. Airlines see it as a marketing tool for their higher-paying flyers. As for the passengers, it's hard to turn down that wine when you're captive, bored and often in vocation snail. And less, it's hard at the brain of the plane.

Please turn to page A10

Russia's Star Startup Is a Sanctions Buster

By Karasinska Ourevich

Russia's way officer at Ukraine might be faltering, but the Russian has a high-tech superwagon to neutralize Western sanctions.

It is called 3.0. The state-backed payment network moves more in real out of Russia, defying U.S. and European efforts to create Moscow from the global-leading system. A7 helps Russia pay for everything from military dump parts to luxury cars to imported fruit, using a mix of cryptocurrency and bank transactions while dispensing its real purpose with data companies and data AI-generated process, researchers say behind its case is a restricted money laundrum. A7's founder, this time, is best known for his role in one of the biggest bank hotels in his-

Jobs Shrink In New Test For Economy

By Mert Geomass

The U.S. labor market shed jobs in July, an unexpected contraction likely to reverse questions about the economy's fundamental strength at a time when it is facing elevated inflation.

The Labor Department's July jobs report showed the economy lost 23,000 jobs last month, a big shortfall versus the gain of 8,000 that consumers surveyed by The Wall Street Journal expected. Revisions to May and June pay rolls numbers showed the economy added 103,000 fewer jobs in those two months.

The soft jobs number prompted investors to scale back expectations for an interest-rate increase by the Federal Reserve at its next most-

Northern payrolls, charge from a month earlier

Not: Immediate channel Years: less than 5 months

ing. The S&P 500 rose 0.6% to a record Friday, while the Dow Jones Industrial Average gained 10 points, or 0.1%. The Nasdaq composite climbed 1.3%. Treasury yields edged. Please turn to page A2

Fewer Workers Keep Unemployment Low

By Justin Lasser

This week's annual employment report refunded a burning question for the U.S. economy. How many new jobs does it actually need?

The Labor Department on Friday reported that the U.S. died 23,000 jobs in July, and it also lowered its May and June figures. With that, the data now show the economy added 44,000 jobs a month over the past six months. That isn't a week as the back half of last year, but it is far cry from what people used to think of

as healthy.

Yet the unemployment rate has fallen to 4.1% from 4.4% this year. That is an indication the U.S. might not need to generate that many jobs to keep up within a tending supply of new workers.

The youngest of the baby boomers are turning 42 this year—edgedes for Social Security retirement benefits—while there is a low supply of country, U.S. born workers to take their place. Meanwhile, President Trump's immigration crackdown has limited the. Please turn to page A2

EXCHANGE

NO TABLES

Behind the focus and messy business of restaurant researchers. B1

Iran Sees A Path to Quit U.S. From Gulf

Iran is vowing to bar U.S. Navy warships from paying through the Strait of Moroccan part of an agreement to re-open the waterway, pressing its goal of curtailing America's decades-old military presence in the Persian Gulf.

By David S. Cloud

Summer Sand,

Alexander Word and Benoit Paeces

Industry threat highlights the avoidance within the Iranian leadership of hard-timers in the Shahar Revolutionary Guard Corps, who have long sought the course of American forces from the region. Though Iran has taken a devastating military bearing, its leaders now are an opportunity to see negotiations on rolling the six-month war to dislodge the U.S. as the dominant power in the Persian Gulf.

Human officials have publicly made the threat amid negotiations with Oman, the subsumes on the attack's southern coast leading discussions with Tehran. U.S. officials have told tendants today, which accept Iranian restrictions at risk on German traffic, one of several conflicts between Washington and Tehran that have delayed completing an agreement.

Please turn to page A6

tory a scheme to extract $3 billion from three banks in Bahamas, one of Europe's poorest countries, in 2014. A Bahamas court committed him of fraud and money laundering for helping orchestrate the theft, but he lost the country while under house arrest.

She has denied the allegations and called them politically motivated. The businessman, who is forced to a 3-manian pop singer, now lives near Moscow. A female leading 30-year-old, Shee goes by "Toronto" in A7's internal company that, according to Gainsborough, is claimed for hackers last year.

Representatives of 50' and Shee didn't respond to requests to comment.

Founded Iran than two. Please turn to page A9

● Russia is tied to drone in Germany... A3

● Saudi Arabia, Turkey and Pakistan sign part... A6

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A2 | Saturday/Sunday, August 9 - 9, 2026

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THE WALL STREET JOURNAL.

U.S. NEWS

Trump Rows Effort for Fed's Reunion

Move follows ruling by high court that blocked an earlier removal attempt

By Matt Goodman and Beth Lauer

WASHINGTON—President Trump is reviving his attempt to fire Federal Reserve growers like Lisa Cook, previously reopened to allegations of mortgage fraud that Cook has called hands-on.

The White House deputy attorney, John Dole, forenoon, sent a letter this week to Cook saying the president was "considering removing you from your position" based on the negligence and wrong bet to provide a written response within 10 days.

The Supreme Court in June blocked Trump from filing Cook without meaningful legal scrutiny. The White House's letter, a gamer of the message to fire her in a way that will meet the court's legal standard.

Trump cited a criminal-to-flood attack by one of the top-strong, officials said. The ruling alleging that Cook in 2023 had

about her primary residence on mortgage paperwork to obtain more favorable terms from a lender. Trump gave Cook no formal opportunity to correct the allegations.

She has denied any wrong doing. Her lawyers have said the matter was, at worst, an inadvertent error and that the allegations are merely a protest for Trump's true goal of unwitting monetary input to market the verdict at the Fed.

"These allegations are as hardest now as they were a year ago when President Trump tried to remove Government's rights from the independent of the Federal Reserve," Cook's lawyer Mike Lowell said on Friday. "As we did before, we were not able to accept the protest and preserve her position and the historic role of the Fed."

In financial filings, Cook has reported that her legal expenses rose to more than $1 million, but led by theatrics, as she fought to keep her job. The saga began in August 2023, when Trump attempted to fire Cook, posting an social media that she "must reopen" and think, each other, sending a letter notifying her that he

Lisa Cook has called mortgage-fraud allegations baseless.

was removing her immediate. It was the first time in the history of the central bank that a president had tried to remove one of its governors.

In response, Cook sued, saying that Trump lacked grounds to fire her, especially without meaningful due process.

The Supreme Court ruled that she couldn't be fired with out some minimal provokant protection that would allow the residence to be saved.

The new White House letter to Cook effectively signals a renewed effort to remove her. "Because the allegations in

the Criminal Refusal reflect on your honesty, counterstatements, and competence to perform the duties of the office you currently hold, the President has determined that there is reason to believe they can initiate cause to remove you from your position," it reads.

The Fed's new Trump-appointed response, Kevin Shank, was asked about how it can during his future confirmation hearing at April. He declined to share his view, citing the litigation that was provided at the Supreme Court at the time. A Fed spokeswoman de-

clined to comment on Friday. The central bank was a source of continual aggravation for Trump under former Chair Jerome Powell, whose tenure ended in May Trump was the latest that the Fed kept interest rates higher than he wanted.

Trump's on a Powell looked over last year, when the Justice Department issued on Powell's congressional testimony about a nonsmoker prior to Salced a criminal investigation. The investigation was dropped this spring when a Republican senator refused to support Ward's conducted in the House of Representatives. Powell faced potential charges.

Meet Fed's future issue the institution when they leader-ship terms was the Powell's case in February. "I'm not, citing rules to the Fed's independence. Trump's new threat against Cook could have put him long. Powell does, he now ends in January 2028. Economists and policymakers might agree that it is critical for the Fed to be independent from politics—a longstanding principle intended to escalate interest once policy from state's own thinking."

Wards has brushed off the

threat that the Fed's independence focus from the White House.

With questions about Fed independence have failed Ward's during his brief tenure as chairman. Ward and Trump have spoken frequently about the economy by phone, on an usually close link between the first and the White House.

The Fed has held rates steady since Ward's took over the past 10 days—and high-elevated relations has led many Fed policymakers, including Cook, to discuss raising interest rates, not cutting them.

The Fed's new law and officials were on interest rates, and at both of the meetings Ward's has led, he vowed with the majority of the committee to hold rates for the Fed's business. The ban blamed the Fed's failure to cut rates under Ward's's end-ending on what he has called a "very political board."

Ask was appointed to the Fed's board in 2022 by President Joe Biden either. Make-up systems held two board seats. Trump's hold down Powell was appointed to the Fed by President Barack Obama. Trump later shared their chairman and Biden re-appointed him.

John Shlink

In New Test For Economy

Continued From Page One lower Friday

More American stepped into the state's labor market entirely, according to the Labor Department's monthly survey of households. As a result, the unemployment rate found to 4.7% over 4.2% in June, even though fewer people were working.

The sizable pullback in hiring market a shift for a labor market that appeared on the opening earlier this year. Elevated inflation is likely to remain the Federal Reserve's primary concern, however.

Government job losses pulled July's numbers into negative horizon. But private-sector hiring made a weak showing as well. Overall, private employers added 36,000 jobs.

So a bright spot likely to be facing the boom in the country, the construction sector added 12,000 jobs last month. Manufacturing gained 5,000. But leisure and hospitality were the most important markets—after cutting even more in June—while retailers shed more than 10,000 employees.

Private-sector education and healthcare jobs grow by

Payrolls for select sectors in July, change from June

Note: In thousands, with at

times in June. (Equity)

25,000, a relatively poor result has what has been a big source of new jobs over the past year. Though unemployment rates have been "committed" who were expecting strong July hiring—use 1018 to 1500 in the latest jobs figures. "The July employment report was not the worst thing," Lois, chief economist at Fifth Financial, wrote in a score to them.

Eric Wingstad, an economist at BoardofAmmonia, said statistical noise likely pulled

down government job totals and might explain some of July's weakness. But the big downward recession pointed to broader concerns.

"July is a month with massive seasonal adjustments, but you can't explain away the downward revision to May and June again as well," Wingstad said.

Over the past two months, the labor force fell by nearly a million workers, a large decline for which economists ka-

vent yet pinned down a clear cause. Faster economists at the Trump administration's immigration conditions are natural subjects, but many analysts think these factors aren't the full story.

The trend has pulled down the unemployment rate. Because it means fewer people are competing for limited available jobs, it is a minor blessing at best because it entails workforce plants how much the economy can grow.

The July report, and down-west revenues, left the job market looking suddenly shaken and could give Fed officials panel before pressing forward with a September one increase some were considering. The numbers point an ambiguous picture for the central bank. It aims for lower unemployment, but last month, unemployment fell for the wrong reasons.

Revised statistics likely to remain the Fed's market at the low. It led three officials to dissent in favor of a rate increase at the Fed's meeting last month, and others more recently suggested a rate increase could be the best met more.

As Friday, tougher slightly pared back their bets that the Fed will raise more next month. Before that meeting, the Fed will get plenty of additional data to consider, including another month of job-market numbers and July and August's inflation end.

Kevin Shank, the Fed's chairman since May, has used little about his read of the latest market, in keeping with his philosophy that inventive should form their own judgments. The economist found mentals before Friday's data, often officials argued that a sounder job market should make the Fed comfortable with some factors in the past. "Next week's inflation re-evolving changes is to gain important for the Fed," said Satham Tanaka, chief U.S. economist at S&P Global Ratings.

Friday's report marks the second straight year that the July numbers included substantial negative revenues to previous months' data. When the July 2023 data were published, the May and June totals were revised down by a combined 285,000, leading President Trump to fire the commissioners of the Labor Department's statistics agency, Erika McDonald, heavy later.

The monthly survey of the year was a routine for facilitating real-life tax economists. They are necessary because many of the roughly 125,000 employees needed to identify about staffing totals send in their responses late if at all. A second straight year with big negative commentaries revenues could send economists searching for a deeper statistical explanation for the quarter.

Even before Friday, Americans were saying they were unsettled about the latest market. Embarked hiring and layoffs left many looking mous.

In recent months, more than a quarter of the unemployed have been looking for work for more than six months. The job was published in July, which can sometimes mean that people stuck in long, frustrating job searches here given up altogether.

The report is based on a survey from the Conference Board, a research group, 2023, said also were plentiful, while 21.5% said they are hard to get—the least favorable split since 2021.

Joblessness

States Law Amid Stump

Continued From Page One supply of foreign-born people entering the workforce.

Some economists expect more of the same in the month's ahead.

"My guess would be that the rest of the year will, if anything, see slower jobs growth than we have to save so far," said the American Enterprise Institute's Data Venger. In joint week with Brookings Institution and the United States Eablining and Tato Watson, Venger, and market that the job has been much to add about 12,000 jobs a month to keep the unemployment rate steady.

Some aspects of Friday's report suggest that competition restrictions are having an effect. Labor force partitious

tion—the share of people either working or actively around—has weakened across a broad range of age groups. That "is consistent with the immigration-bandwish narrative" wrote Barclays economists on Friday.

Moreover, the unemployment rate among the foreign-born population slipped 10.2%, adjusting for seasonal swings, from 8% in January, according to Steve Kudry's. That could be because of the foreign-born workers who are engaged in the labor market—the example, these with given cards—are having an easier job marketing a lot.

Construction, which employs a lot of immigrant workers, added 22,000 jobs last month, with gains content around at the possible trade contracting week that continue on to benefit from the bedside. But leisure and hospitality—also highly immigrant-dependent—died 40,000 jobs.

As an extent, a smaller supply of potential workers suggests that the labor market

Average monthly change in employment from six-monthly earlier

Note: In thousands, with at

can be considered healthy even if there aren't as many jobs getting covered at in the past. That is one message from the low unemployment rate.

For the overall U.S. economy, it could be more of a mixed bag. That is because the economy relies on two big enzymes in the labor market: growth in the workforce, and growth in how much workers get done, or productivity.

The aging population, and the workforce the U.S. will need to support them, co-star panels that support. There are now about 46 million people living in the U.S. who are 40 or older, according to Congressional Budget Office estimates. At 10 years, the CBO projects that will increase to 75 million.

All could bring 10% of the few things economists generally agree on about the new

Source: CBO DataVenger

technology is that it will boost productivity. But they also generally think these productivity increases aren't showing up broadly that is.

New workers are using AI intensively, and while the Labor Department has expressed a productivity pickup in recent years, Barclays economists are trying to probably put a lot. What if the whippening of the labor market following the

Covid-19 shock. Even though AI investment has been occurring at a level back pace, it takes time for workers and businesses to adapt to a new technology. You can't just hand somebody a real gun and expect them to know how to see it.

That could mean that, for the next few years at least, the economy might not be able to grow very quickly, for at least not without the unemployment rate among most down, with the rule that a tightening labor market takes pushing inflation higher.

The alternative might be for the U.S. to expand its labor pool. Japan, for example, has struggled with its aging population, but it has succeeded in bringing more women into the market than a number of women aged 25 to 34 in Japan working as actively working work has likely been 96% versus about 87% in 2020.

In the U.S., labor force participation for women aged 25 to 34 with 1998 in 2020 than 77% in 2003 to 77.8% as of July.

THE WALL STREET JOURNAL

© 2026 John White House, College, 2026 6th Floor, Columbia College, 2026 6th Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd

Editorial and publication: Washington, DC, October 7-10, America, New York, NY, USA

The Journal has been published and published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years. The Journal has been published for several years.

Editorial and publication: Washington, DC

Read and comment: what your sales report?

By John Greenhalgh, Executive Director, Board of Directors, 2026 6th Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100 2nd Floor, 1100

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CORRECTIONS & AMENDATIONS

The U.S. has offered to lend Japan money on part of another global crisis in 2026. Reserve facility to hand you intervention. The American column in Thursday's Rummus & Finance section incorrectly said Japan already used the U.S. facility.

A map with a Masson article on Friday about the Washington, D.C., was also recently labeled the independent city of Alexandria. The in Alexandria County is also incorrectly placed the five-hall neighborhood of Washington farthest northwest

than it is.

The title of the television show "10 Things I Have About You" was given incorrectly to one instance as "10 Things I Have About You" in a Masson article on Friday about after 10:00 a.m.

Readers can alert The Wall Street Journal in any errors in news articles by emailing respsmated@waj.com or by calling 800-352-5000.

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THE WALL STREET JOURNAL.

...

U.S. NEWS

Saturday/Sunday, August 9 - 9, 2020 | A3

Pied-à-Terre Tax Rollout Draws Lawsuit

By ROBERT S. PETRITT

A group of New York City homeowners are suing to delay Mayor Edward Mamdani's looming pied-à-terre tax, an early legal challenge to the new surcharge that took effect about a month ago.

The lawsuit isn't arguing against the tax as a whole. Rather, the suit argues the law has been improperly executed. It alleges the Department of Finance hasn't done proper due diligence to identify owners of luxury pied-a-terre. Instead, the suit claims the city is illegally placing the onto on property owners to prove that they don't care the tax rather than forcing city officials to verify that for themselves.

State law requires the Department of Finance to make an "infrad determination" of who is subject to the pied-à-terre tax "based on information available" such as tax returns, property assessments and other records. The lawsuit claims the city ruined the process and mandated the mandate of long-time New Yorkers as a result.

The Mamdani administration didn't respond to a request for comment.

The new pied-à-terre tax applies to homes worth $5 million or more where the owner isn't a primary resident of New York City. Mamdani has toured the tax as proof that he is delivering on his campaign promise to tax the city in that his agenda.

The tax went into effect on

July 1 and since then, the rollout has been never. Some New Yorkers say they were closely derided pied-à-terre owners despite having lived in their residents for years or decades.

"The rollout of this surcharge is a debacle," said Rande Martin, a lawyer for the plaintiffs who also brought the lawsuit against Mamdani's own former this summer. "It tried to switch the burden to New York City homeowners to prove they live here."

Martin, who served as a deputy mayor under Mayor Eric Adams, said that in its attempt to identify the luxury pied-a-terre, the Department of Finance can too wide a net.

Last month, the Department of Finance published a preliminary tax roll with 962,000 properties it said may be subject to the second-home tax. Mamdani's office said that he was just a starting point and was far more encompassing than who would ultimately buy the tax.

The Department of Finance also mailed warning notice to a narrower group of about 12,000 homeowners that it thinks may care the tax. City officials have until Aug. 30 to notify potential several homeowners of their new tax bills. Spending up the process, the lawsuit claims, made it harder to consider all the available information to properly confirm who owns the tax. The plaintiffs are asking the court to delay the tax rollout and force the city to redo the process.

FAA Orders Inspections Of Boeing MAX Jets

By GORDON YOUNG AND ARTHUR TUNEL

The Federal Aviation Administration has ordered the inspections of Boeing 707 MAX jets for cracks in the body of the aircraft.

Cracks were found on some 707 models in a structural reinforcement around one of the plane's doors, the agency said. The FAA directive published Thursday applies to 673 jets in the U.S., covering certain Boeing 707 MAX 9, 707 MAX 9 and 707-8200 models. No cracks have been reported on the newer model planes. Boeing said, but airlines are expected to follow a schedule for inspections and make immediate repairs if any cracks are found.

Boeing issued a bulletin in 2008 about potential cracks.

In contrast with FAA directives that require immediate action, the agency didn't find an urgent issue in this instance.

Boeing aircraft have been involved in a series of quality and safety issues, including an accident last month when a window dislodged from the side of an older variant of the 707 in Gevers and led to a passenger being partially cocked out the side of the aircraft. The passenger survived, and pilots were able to safely divert the plane. Also in July, the FAA ordered the inspection of MAX jets over seats.

Boeing said the directive provides opportunities to detect and correct possible cracks.

The White House ballroom project, on the right, needs congressional approval, an appeals court in Washington ruled.

Appeals Judges Halt Ballroom Work, Trump Vows High-Court Challenge

By LEON WINDLER AND JAMMY ROSENBERG

WASHINGTON—A federal appeals court halted above-ground construction on President Trump's planned White House ballroom, setting up a potential downtown at the Supreme Court over one of the president's favored projects.

In a 2:1 ruling, a panel of the U.S. Court of Appeals for the District of Columbia Circuit said that only Congress, not the president acting alone, can approve demolitions or design changes to the White House. Trump hasn't secured congressional approval for the proposed 102,000-square-foot project. The panel upheld a lower court decision.

"We are aware of no instance in America in history as which a President unilaterally and using privately collected funds demolished substantial

portions of the White House that Congress authorized to be built and American taxpayers paid for. Until now," Judge DeVorio Millett and Reed Garcia wrote in the majority opinion. The court put its ruling on hold for two weeks to give the Trump administration a chance to appeal to the Supreme Court.

Trump elected the ruling to social media, saying it "proving jeopardizes the lives and welfare of the people who work, and will be working, at the White House." He said the administration would immediately seek Supreme Court review.

Last fall, without explicit congressional authorization, construction covers would be East Wing of the White House at Trump's direction to make way for the project, which is being funded by private donations. Trump has pledged that it would be funded entirely by private donations, though tax-

papers could be on the hook for security-related appraisals.

The National Trust for Electric Preservation said to challenge the project U.S. District Judge Richard Scott, a George W. Bush who has made an injunction in the spring to halt aboveground construction while the case proceeded. Leon made an exception for below-ground work on national security-related facilities.

Leon's injunction had been put on hold while the appeals court considered the case. Friday's decision will resonate the injunction on aboveground construction unless the Supreme Court intervenes.

The president says the ballroom would provide a place to host state abusers, inaugurations and other events. Plans for the two-story structure, which will eclipse the main building of the White House, have grown to include features

like a drone port on its roof. Millett, appointed by Barack Obama, and Garcia, appointed by Joe Biden, wrote

that the Constitution gives sole responsibility to Congress to regulate the construction of the White House. "Congress has not asked additional authority to the Executive branch to dramatically redesign, relocate, and recreate the White House—the People's House—to fit a particular President's desires," Millett said Garcia wrote.

Judge Bevan Rae, a Trump appointee, described the appeal the National Trust for Historic Preservation doesn't have legal standing to sue, and wrote that the ballroom project likely is acceptable under a federal statute that authorizes the president to take certain steps for the "improvement" of the executive residence at the White House.

Army Expands Access to Munition Test Ranges

By MARCUS WEINBERGER

The U.S. Army is expanding access to its test ranges and growing grounds in an effort to get new munitions, drones, and other types of weapons to the battlefield more quickly.

The effort, announced Friday by Army Secretary Dan Driscoll, comes as the military has praised through its stockpiles of thousands of sophisticated missiles and interruptions in lean over the past five months. President Trump has ordered an investigation into the disclosures of the Prom-

guers munitions stockpile, administration officials said, an escalation of his effort to battle damaging revolutions about the loan war.

New weapons typically undergo a series of tests before the military buys large quantities of them. By opening ranges for testing, the military expects that it will be able to circulate the procurement process and secure new weapons faster.

"Within 30 days of a request, a company that is capable of getting to a range will get access to either one of our

domestic ranges or one of our international ranges abroad," Driscoll said during a call with reporters Friday.

Military test ranges replicate conditions weapons might encounter when used in combat, such as electronic jamming. The Army operates seven large ranges, but numerous additional ranges exist in the National Guard. The demand for test ranges has increased in recent years as the military pursued new generation weapons, including drones, liners and fast-firing hyperoxia missiles. Friday's announcement

makes more test ranges available, but companies must still wait at least 10 to 18 months to use the White Sands Missile Range in New Mexico—the Army's premier test site where the first atomic bomb was detonated in 1945—due to demand and bureaucratic requirements.

White Sands is unique in that commercial planes can't fly over it, allowing officials to test highlighting weapons, including ones that could reach the edge of space. But the Army has often facilities that it is making available.

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U.S. NEWS

Trump, DHS Chief Increasingly at Odds

Mullin's messaging hasn't aligned with the White House's, ranking president

By Michael Blackman Sun Magazine Editor

WASHINGTON—President Trump is growing increasingly frustrated with Homeland Security Secretary Markwayne Mullin, after Mullin's move a series of off-mosage remarks recently that augured many of the president's outside allies.

Trump signed Mullin, a three-month report, which he said in the latest, to take over the Homeland Security post after her Conf. Kicks' Room last spring, 64 the time. The report, which was the first of the indighting and drama at 2026, when Mullin started the job, he told associates his primary case that public were to keep the agency out of the town.

The 2026 move than four months into Mullin's tenure, the president is coming on him, viewing Mullin as weak and off-mosage, the people said.

A senior Trump administration official acknowledged that it outstretched with Mullin had grown but said the president was not at all.

The frustration pooled last week when Mullin, speaking at a meeting of the National Governors Association in Oklahoma City, said that the

narrative that immigration "would American give a true in some industries, it's not true for all industries" and suggested immigration could be a way to make up for less labor than participation rates in some areas.

The comments drew an backlash from Trump's most vocal outside backers, who owned them as out of step with the administration's minions to depart as many immigrants as possible and reduce overall immigration numbers to the U.S. Lasts Loomer, a right-wing influencer who speaks to Trump regularly. He added the Trump to this Mullin, writing an social media that he has "done absolutely nothing to increase the use but more deportation."

Roses after his remarks, Mullin posted on social media "80 minutes" for illegal aliens flow."

The episode followed several other decisions that put Mullin out of step with the president. After two total shooting of immigrants in the span of a week, Mullin temporarily baled most vehicle steps by federal immigration officials, only to have the president reverse the policy a day later. A senior administration official said that the president was annoyed that he didn't know about the policy change ahead of him.

Trump was also frustrated that Mullin wanted to cancel the Fourth of July foreworks show amid lightning, said

President Trump with DHS Secretary Markwayne Mullin.

people familiar with the matter. They of my very brilliant people backlogged, said, 'Don't worry about it, no '80s can do it matter next week.' Trump told the crowd, 'I said, 'It doesn't work next week. This is the big day. We want July Fourth. We're not going for July something else.'

In late June, after the Supreme Court ruled the administration could end temporary immigration projections for 500,000 Haitian living in the U.S., Mullin suggested as a secretwise the same Haitians might be able to remain in the country. "Either 'em to 150 not the paperwork and he here understand a permanent clause, or we'll help you get back to your country," he said.

The comments were some by some inside the administration as out of step with the administration's messaging,

since deporting the Haitian population had been a promise on the campaign trial, and the Supreme Court had just handed them a victory on the issue.

Lastors, like a White House spokeswoman, didn't mention Mullin directly in a comment, but said the president "has confidence in the Cabinet to carry out the agenda for American people voted for".

A 2005 spokeswoman said the administration is "victimism, and we have our right." The "victimism" is a major miscellany highlights the tightness Mullin has been a step in walk. Though he came into office with the mission of adopting his "victimistic" public image, particularly at the immigration officials who and killed two American citizens in Minneapolis, that put it has sometimes been at odds

with Trump's desire to appear committed to his mass deportation agenda.

Under Mullin's watch, a critic and deportations initially dipped, but have since choked to some of the highest daily totals of the administration to date, with 152 according between 1,500 and 2,000 immigrants a day, according to an administration official familiar with the data, 1980 hasn't been publishing the activity.

The backlash also underscores the challenges that come with being Trump's Homeland Security secretary. "I did not have much backtime immigration policies a priority in both of his own and that the Secretaries haven't lasted long.

The war into first cabinet secretary to be fired during Trump's second term, had in his first term, Trump had two Senate-conditional 1980 victories and four acting secretaries.

The two has faced strong internal opposition over his selection in permanently lead U.S. Immigration and Customs Enforcement, Labor Sciences and the United States, and has been halved at Schrever, a veteran of the Oklahoma Highway Patrol who led Mullin's security detail when he was a senator. The 2026 election was a lack of federal government or immigration experience.

The Senate has yet to introduce a confirmation hearing for Schrever.

U.S. WATCH

PARENT RATES

Drought Prompts Water Rationing

Parents then has begun rationing water on land, the land amid an intense drought, leaving residents without

supply for 40 hours at a time. The rationing is expected to last for the year in the month, according to the state's Augustant and former Secretary.

The heaviest hit away have been divided into seven that will alternate water service on 40-hour cycles, leaving seven more than 100 hours water while others remain supplied.

Most of Puerto Rico is experiencing drought conditions, according to the U.S. Budget and the United States, and the state's droughts in Puerto Rico. The drought is expected to persist or worsen for at least five next month. The drought has been held on and a new and demographic Administration demand.

Puerto Rico Gov. Jennifer Gonzalez states said the rationing measure was implemented after evaluating another five years, and the rate of the water ratio increase and climate conditions of the U.S. territory.

Parts of seven municipalities are impacted by rationing. The water ratio is 1.5 per cent, Tupilo Alto, Cancunana, and Lujos, and Carolina.

Tanker trucks with drinking water are being distributed, and the water ratio is 1.5 per cent, Tupilo Alto, Cancunana, and Lujos, and Carolina.

Tanker trucks with drinking water are being distributed, and the water ratio is 1.5 per cent, Tupilo Alto, Cancunana, and Lujos, and Carolina. Tanker trucks with drinking water are being distributed, and the water ratio is 1.5 per cent, Tupilo Alto, Cancunana, and Lujos, and Carolina. Tanker trucks with drinking water are being distributed, and the water ratio is 1.5 per cent, Tupilo Alto, Cancunana, and Lujos, and Carolina.

The White House didn't respond for comment.

— Jack Marpled

WASHINGTON

Funding Set Over Batteries, Minerals

The Trump administration has agreed to provide more than 52 billion in funding for companies producing batteries and critical minerals, adding to a wave of government cash earned at weaning the U.S. off Chinese suppliers.

President Trump announced at a Friday roundtable with mining executives that the Defense Department has committed to loan such information to the United States, and the United States. The U.S. has also supported a $200 million to advertise and some more more than 20K in up to 49 million of 2025 at a rate below the $1 at odds with the state GOP and will need a cashier to connect Republican, Democratic and independent to win. The Alaska, most recent alert's affiliated with any major party.

The U.S. has also provided an China and other countries for the official components of weapons and equipment. The U.S. has also provided a $200 million to advertise and some more than 20K in up to 49 million of 2025 at a rate below the $1 at odds with the state GOP and will need a cashier to connect Republican, Democratic and independent to win. The Alaska, most recent alert's affiliated with any major party.

Cassidy Clichés Win for Blanche Confirmation

By Linman West Sun News Science

WASHINGTON—A key reason to said on Friday he would vote to confirm Todd Blanche as attorney general, claiming the path for President Trump's pick to lead the Justice Department.

Sun Bill Cassidy (R., La.) said Blanche isn't a perfect pick, but another attorney general could be worse.

"I'll be criticized for this vote. What's new?" Cassidy said, apparently to misabhever his worth during a speech on the Senate floor. "But the people of Louisiana can be assured that I worked hard to understand the issues and make the right decision."

His administrator comes house after Sen. Lisa Markowski (R., Alaska) said she could oppose Blanche's nomination, which would have put his confirmation in jeopardy if Cassidy also voted to. Sen. Susan Collins announced his decision on the Blanche's nomination last week.

Susan GOP leaders have yet to announce the timing of any confirmation vote. It would include the vote on the most unusual confirmation processes for attorney general in recent memory.

For weeks, Blanche was forced to negotiate between Republican troubled by a deal of retirement. The House has banned against the Internal Revenue Service, and a president had no obtaining the retirement's benefits. At 8:15 his late anti-ewigmanship fund to compensate his office and immunity from IRS audits.

Republican holdouts from John Ziemer of Texas and Trent Hall of North Carolina sought Blanche's written ac-

Sun. Bill Cassidy, center, said he would vote to confirm Todd Blanche as attorney general.

ntionment that the fund was dead and the tax could protect those limited, in exchange for advancing him through the Senate Judiciary Committee.

As Blanche, Trump's former personal loreys, appeared to be making progress with the senators, the president put him in a tough spot. Trump first threatened to pull Blanche's nomination if senators didn't have left him and had he would push for legislation to revive the compensation fund, is meeting its demise.

To break that legum, Blanche said, "the Justice Department did end up revisiting the fund in writing and narrowed Trump's audit procedures, but critics have said that the fund may not be binding on the president."

Cassidy said in his白纸黑字 speech that Blanche "dressed poor judgment" in approving the "anti-ewigmanship" fund and granting Trump tax-audit procedures. He also said he was troubled by Trump's use of the Justice Department to go after his perceived overuse, calling it lawfare that needs to stop.

Cassidy said he consulted several current and former law-enforcement officials in making his call. He also said Blanche has been criticized for things over which he has no control because Trump calls the final call.

"This is not a contravagant on President Trump," he said. "It is a decision regarding Mr. Blanche and very specific circumstances."

White House spokeswoman Karoline Leavitt called Markowski's decision unsurprising but "nevertheless disappointing, according to the administration and specifically the Department of Justice has done for Alaska."

Markowski, Cassidy and Collins were in a group of seven Republican senators who voted with Democratic or contest Trump of writing in)^{[1]} and were not in the second term with the legislature on vote. He had a 2025. She also suggested a tabley federal rights to advertise and some new material. She is up for in election in 2025 at a rate below the $1 at odds with the state GOP and will need a cashier to connect Republican, Democratic and independent to win. The Alaska, most recent alert's affiliated with any major party.

In May, Cassidy lost his bid for a third Senate term after Trump backed one of his primary roads, Rep. Julia LeGone (R., La.).

Earlier Friday, Markowski expressed skepticism about the announcer. Blanche had given German and Talia about the fund, saying it is only off the table because Blanche's nomination is pending and the Senate has leverage. "Once we vote, that will end, and there is no talking what the future holds," she said.

In a statement only Friday, Markowski said she had had "construction meetings" with Blanche, but still had numerous concerns, including what she viewed as the politicians of the Justice Department, which she said accelerated during the Trump administration, and Blanche's handling of the release of false interest to convicted sex offender Jeffrey Epstein.

"The country needs an Attorney General who will check the word (improved) in this administration," Markowski said. "I hope Mr. Blanche is able to achieve that, if confirmed, but I simply do not have confidence in the law."

Markowski is a activist who has headed her party before, notably with her even against repealing the Aftersible Law Act in 1937 and to contact Trump of renting motorcycles. He is under legal control and trial in 2025. She also suggested a tabley federal rights to advertise and some new material. She is up for in election in 2025 at a rate below the $1 at odds with the state GOP and will need a cashier to connect Republican, Democratic and independent to win. The Alaska, most recent alert's affiliated with any major party.

Hegseth Strips Security Clearance From Biden's Air Force Secretary

By Marcus Winneman

Defense Secretary Pete Hegseth revoked the security clearance of a former United ranking Biden administration on defense official for allegedly leaking classified information about its Force One.

Frank Kendall, who served as Joe Biden's Air Force secretary and in several high-level Pentagon posts during the Obama administration, was quarter in a New York Times article last month that ended that the Air Force One jet gitted to President Trump by the future government asks the defense capabilities of the traditional Air Force. By the end of the war, the Air Force been quoted by The Wall Street Journal in a recent article

about the aircraft.

"Independently classified information is a non-negotiable date," Pentagon spokesman said. "I intend to write a post on X. 'Those who violate the Court forfeit the privilege of access and any rule requiring it.'"

He added, post didn't pay all calls say what classified information Kendall released, but referenced "classified information regarding Air Force One's capabilities."

"I'm mystified," Kendall said in a text message when asked for comment. "I'm been extremely careful to not say anything that could be classified, and as far as I know I have not said anything classified." He added, "So far no one has told me what I'm sup-

Frank Kendall held posts under President Biden and Obama

posed to have revealed." Former officials often maintain security clearance after leaving government, allowing them to work on classified projects for defense

contractors, serve on advisory boards or consult on other sensitive matters. Loving a person's personal credit impact a person's nursing potential and marketability for jobs.

Soon after the Times published its July 9 article, the Justice Department subpoised several Times reporters. Federal officials said the reporters weren't the target of the investigation. The Justice Department withdrew the subpoena text that two weeks later.

A lack of defensive capabilities on the Qatari plane forced Trump to leave a July NATO summit in Turkey aboard air after its from that plane, the Journal has reported. The incident came into that two weeks after the incident was just during 747 hours firing as Air Force One following months of appointee. Officials said, "I wanted to get the modification, but have said the plane's communications

since it the same as the older presidential plane."

Trump has since said the Qatari plane would be "mailed to the United States to consider the whole of the White House has said it would be out of service for about a month this fall for the modification. Trump has run over the United States, firing on it to California and Nevada this past week.

Trump has previously pulled a suspended the clearance and in some cases, there is details for former officials that he has provided an opinion, including more than four dozen former intelligence officials who signed a 2020 letter warning that the result found on a layman's report. The United States, however, the hallmarks of a Russian administration campaign.

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THE WALL STREET JOURNAL.

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Saturday/Sunday, August 8 - 9, 2016 | A5

U.S. NEWS

How a Data Center Flew Under the Radar

A California town's zoning rules allowed an Amazon project to quietly take root

By JENNIE KENNEDY

Partners residents packing city council meetings have become a familiar scene as proposals for data centers spark feedback in towns across America. But in Gilroy Calif., known as the world's garlic capital, there's a beat. The $2 billion facility that residents are calling against is already being built.

"Many if not most residents first learned about this project after construction had already begun," Colson Evers, an elementary-school teacher, told the council at a recent meeting.

There were no public meetings or votes before a later city staffing gave Amazon.com the green light last July to build a 400,000-square-foot data center on 18 acres of farmland and miles south of San Jose.

With outcry growing over data centers nationwide, local officials and developers found quality ways to get projects improved. Some government leaders signed needs/cancer agreements early in the process, others denied projects through local zoning rules that subcept public scrutiny.

In the farming community of Gilroy, Amazon's project was approved with a single agreement by the state community-development director—because it met zoning criteria set 45 years ago for industrial development along a foreway.

Mayor Greg Bezos said other big industrial projects have been approved in the same manner over the years, but didn't mean any spread.

"It didn't bother them that a food distribution center on the Gilroy without their engagement, but now it bothers them that a data center is coming to Gilroy without them having the possibility of re-

gagement," Bezos said.

Mayor Webster was president of economic development at Amazon Web Services, said the project went through a long approval process that included public nature and public comment periods.

"While the project followed standard approval processes for an industrially zoned parcel, we recognize the community needed more engagement centers, and we take that seriously," Webster said. "We've done just directly with residents and hosted an open house to hear feedback and

answer questions."

The audit of local estuary has also pushed city officials to reconsider how they permit big projects like data centers in the future. The council is making a proposal that would require similar workers to win approval from the city's planning commission. It would mandate that developers hold community meetings and notify people living nearby. "We, have an opportunity to change the way that we do business in Gilroy," the mayor said.

Amazon Web Services appeared to build the data center in

2020, after buying a result of land between a Webster's honeover and the Gilroy Premium thrifts. The city conducted a lengthy environmental review of the project, an over-run process developers elsewhere have sought to avoid.

But with no public meetings and scant media coverage, few residents even knew the project was under way. Emails viewed by The Wall Street Journal detail how important and the city quietly hammered out a shot over the years. Amazon officials sometimes grew impatient with the

slow pace of government bureaucracy. "Our project has faced multiple delays and is now delayed by over a year," a company representative said in the spring of 2020.

City workers, in turn, sometimes appeared to tire of the company's pushdown during negotiations. "This matter is no longer up for discussion," one wrote.

Throughout both sides were careful about what they shared with the public. When residents raised concerns in January of this year about the potential for battery fires like one in nearby Moss Landing, Gilroy's fire marshal wrote that "we should be careful to limit the level of technical detail that a distributed publicly" because Amazon's fire-suppression systems were proprietary. An Amazon official responded that he would support what they were "allowed to share with the public."

After word spread about the data center project earlier this year, Gilroy resident Rosa Rodriguez wrote in city staff in February, asking to comment on the environmental review report, saying "the damages data centers can cause are re-

epensable especially when it comes to a state facing drought." A city planner informed her that the comment period had closed as September 2024, according to the emails.

"These processes were not enough for the citizens of Gilroy to do anything about it," said Landon Sepulveda, a 21-year-old college student who has helped organize opposition to the project.

Mayor Bezos countered that Amazon has promised to build a pipeline, on its own date, to bring wastewater to the data center. He touted other benefits: tax revenue, construction jobs and $1 million from the company for the city to buy a new foreway. Amazon also handed out grants to local nonprofits and sponsored the annual Gilroy Garde Festival, Bezos said.

Residents don't care about garlic-festival sponsorships, Sepulveda said, they want their city council to tell them about important projects and give them a chance to sought in.

"Everyone has told, too, lives," he said. "We've elected them to tell us, and we shouldn't have to switch over their shoulders."

Race Under Way to Develop Next Big Narcolepsy Drag

By KEVIN MARTINEZ

Narcolepsy isn't easy to treat. Existing drugs manage patients' symptoms—notably excessive daytime sleepiness and difficulty sleeping at night—rather than the cause. Yet a new type of drug is emerging that targets the root of the disorder.

It might lead to better drugs for a range of sleep problems.

The Food and Drug Administration on Wednesday approved Tabula Pharmaceuticals (Tetrayol). The first medication to treat narcolepsy by targeting a brain chemical that regulates wakefulness. It is the first in a series of similar medications being developed. A drug that passes such as Elk Lilly and Allozomox that answers our could generate more than $10 billion in sales a year.

"It's really a complete revolution," said Dr. Emmanuel Miguel, a sleep-medicine professor at Stanford University who led Tabula's food studies and is credited for pioneering the science behind it. "The first time patients take it, it's like the light switch."

Gracellia has approved for narcolepsy

with sudden muscle weakness, a more severe form of the disorder.

Narcolepsy is unusual in neuroscience because researchers have long known an

activity what causes it. A small group of brain cells that make a chemical called corain die, disruptive a person's ability to stop awake during the day and to sleep at night. As a result, patients fall asleep without warning during the day, lose muscle control and hold out nuts while nearly asleep.

Patients often sleep poorly at night before the daytime sleepiness.

To study the disease, sci-

Projected narcolepsy-drug sales

■ Onset: 1-targeting 10 Other 10 other

Note: Non-adjunctive estimates of the observed loss of activity are shown in text in 2020. Patrick Mandellic

estarts at Stanford in the 1970s and 2000s (and narcolepsy dogs that collapsed paralyzed when excited.

Miguel came to Stanford to study those dogs (and still own) one narcoleptic (Chihuahua today). He spent about 20 years looking for the gene behind the condition and discovered that people with narcolepsy who experience sudden muscle weakness were missing the chemical results.

The discovery gave drug-makers a clear target in a

field where most diseases involve poorly understood biology.

At Japan-based Tabula, a research searched the company's library of chemical compounds, looking for one

that could switch on the serum receptor. In 2016, researchers discovered one that showed promise.

It took several years to turn it into a pill.

Existing treatments are decades-old stimulants and sedatives that target one's symptom at a time, but Drayful and its competitive drugs are designed to treat the disease as a whole.

The science of targeting

these chemicals has impact beyond narcolepsy. Tabula is testing serum-targeting drugs in other conditions, including sleep apnea, chronic daytime sleepiness and in sleep-deprived healthy volunteers, and early results are promising.

Tabula's late-stage studies involved two 22-week trials of 273 adults.

Patients who took Drayful showed improvements in stunting smoke, had fewer instances in which they lost muscle control and slept better at night than those on placebo.

Tyler Chapman was diagnosed with narcolepsy at age 14. He tried a powerful nighttime sedative to sleep, but the drug triggered severe psychological side effects. Going off it caused his symptoms to return more severely. He stopped playing sports, slept 10 hours a day and started falling several classes.

Chapman fell into the habit of consuming the equivalent of about 10 cups of coffee's worth of caffeine a day and tried 10 different medications.

This summer, at age 16, he volunteered to be a part of a study of Tabula's drug at Stanford's sleep clinic.

He said the results were noticeable within minutes.

"My body was hot-wired," said Chapman, a sophomore at the University of Tennessee, Knoxville. "It was the first time I felt somewhat alive in the last 10 years."

Before U.S. patients can access Tabula's medication, the Drug Enforcement Administration has to formally schedule Drayful as a controlled substance—a process that can take up to 90 days.

Tabula has projected peak sales could top $3 billion, a figure that depends partly on how many of the around 40,000 diagnosed U.S. patients start treatment and whether the market grows.

The company estimates that nearly 120,000 people in the U.S. have the condition.

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A6 | Saturday/Sunday, August 8 - 9, 2026

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WORLD NEWS

Saudi Arabia, Turkey, Pakistan, Singapore

Countries scramble for new security arrangements in the wake of the Iran war

By Jaani Musim

SIFANPALS—The leaders of Turkey, Saudi Arabia and Pakistan signed a mutual defense agreement Friday, having the foundation for closer military ties among three U.S. allies looking for new ways to share up their security after years of upheaval in the Middle East. The agreement comes as the U.S. and Israel was against Iran but created over only for the region, while raising uncontrollable about the American security assembly. President Trump, having launched the war against the author of his Arab Gulf allies, is looking for

an exit that many countries in the region fear could have them exposed to an angered and unholyidized Iran.

Israel's demonstrators of powerful military and intelligence capabilities and its willingness to use them in the region since the Hamas attack on Oct. 7, 2025, also has raised new security concerns for other Middle East powers.

The agreement brings together Pakistan, a nuclear armed nation, with Saudi Arabia, a wealthy oil problem, and Turkey, a NATO member with a large and growing defense industrial base.

It builds on an existing defense arrangement between Saudi Arabia and Pakistan. A Turkish official said the past situation, a collective defense clause and a purely defensive, not aimed at any specific actor. Other countries are welcome to join, the official said.

come to join, the official said. 'The Agreement is intended to strengthen collective deterrence against any act of aggression, and stipulates that any armed attack against any one of the three States shall be regarded as an attack against them all.' Pakistan's Foreign Ministry said.

The armed indictments have regional powers are taking a hand look for their security in the wake of the Iran war. Tehran built its defense largely on retaliatory strikes across the Persian Gulf, which overwhelm a attack on Israel and hit economic and cultural targets, as well as U.S. bases and embassies. Iran also

launched member at Turkey, a NATO member that knew an important base for U.S. forces. Israel, meanwhile, is hanging up against Turkey in Syria and launched a missile attack on Hamas leaders in Qatar last

year. that alarmed Gulf states that got little warning and assumed their retaliatory with the U.S. would prevent such strikes.

Saudi Arabia also has been growing threat to neighboring Yemen, where the Iran-based Health militia has begun attacking opposing military forces leading to the kingdom and shooting in Saudi waters trampling the Red Sea.

The kingdom said a Health attack 'Thursday' signal 15 people in a Saudi border town.

'It's a response to both of these destabilizing factors, because all three countries now the overall destabilization of the region with a similar loss, tearing it both to Israel and to Iran,' said Sinan Ulyan, a former Turkish diplomat and the director of EEMR, a think tank in Istanbul.

The leaders of the three majority Sunni Muslim nations signed the agreement at a ceremony in Mecca, home to the federal site in Islam. Turkish President Recep Tayyip Erdoğan signed the agreement along with Saudi Arabian Crown Prince Mohammed bin Salman and Pakistan Prime Minister Umbilad Uffazif.

The three governments didn't use what, if any, practical steps they would take if

any of them were attacked. Pakistan said Saudi Arabia signed a similar bilateral agreement last year, months before the kingdom came under attack from Iranian mission and abuses during the current conflict. Pakistan dispatched a fleet of warplanes to the Gulf country in April after several weeks of war.

The new accord could be seen as an effort to build up a network against three Iranian attacks, analysts said.

'This gives a message to Iran that it cannot just simply dictate its way under the new situation,' said the new campaign, which have considered stronghold Iran's hand in the Gulf region, said Omer Karim, an executive leader in the King of Iran, who see his Research and Islamic Studies, a think tank in Riyadh, Saudi Arabia.

Iran Sees Opening In the Gulf

Continued from Page One

As a military matter, Iran is unlikely to be able to deny the U.S. Navy access to the Gulf if it decides to sail through the struts, analysts and former senior military commanders say. The Pentagon sent two Navy guided-missile destroyers through Hormuz in April at the height of the war.

But by laying out maximalist demands, Iran may be losing President Trump's appetite for resuming the war or for taking an off-going, even if it means not immediately converting Iran's tail to black the U.S. from the Gulf.

No matter what Trump does, 'the fundamental result is going to be significant because in facts control over the struts,' said Jonathan Forsdell, a former senior U.S. intelligence officer now with the Atlantic Council, a Washington think tank.

The Trump administration would only accept an arrangement in the Strait of Hormuz where Iran receives no bids or fees and can't deny anyone access to the waterway, a U.S. official said, adding that an specified shipping routes would be temporary. Another American official said the U.S. would lift its blockade on Iranian ports if Tehran opened the struts without ingredients.

'It's sort of open right now,' because of the U.S. blockade on Iranian ports, Trump told reporters Thursday he acknowledged that Iran 'can almost shoot something, always have something or drop a nine, and if you have one mine sitting out there, you sort of move things up because people don't want to take their tallow-dollar boats and accidentally get hit by a mine.'

The memorandum of understanding, Trump signed with Iran in June also sought to open the Strait of Hormuz and clear the way he design talks and an eventual end to the war. But it will open amid Iranian attacks on ships aimed at a sorting control over the struts.

The Arab Hormuz deal would temporarily set up an inbound lane near Iran and an

A small boat loses past cargo ships and other vessels anchored in the Strait of Hormuz.

outbound lane near Oman, though Iran's top leaders still need to sign off, officials said. The agreement could help enrich energy from through Hormuz and save pressure on the global economy. But the Arab energy regulates of the Persian Gulf, while weary of a war that has hammered their economies, are concerned it will give Iran a permanent say

over a waterway that is their financial lifeline.

Iran's diplomats, under pressure from the Revolutionary Guard, insist more steps would be needed for the struts to fully reopen, including relinquencies relief and lifting a U.S. blockade on Iran ports. Israeli ships would also be banned from transiting the struts, according to a report by

the Revolutionary Guard-lident Pam Rever Agency, along with ships or ships linked to activist against Iran's regional militia allies. Countries that have caused damage to Iran would have to pay unequivocally before being allowed to transit Iran's government and military, would manage navigation and traffic. Para reported, saying these terms were included in

draft legislation being reviewed by Iran's Supreme National Security Council.

All Stars, the Iran project director of the Crisis Group, a conflict-mediation organization, said the prohibition on wardeges is at the heart of Tehran's demands. 'Iran's control is designed to provide tools to deny access to hostile vessels,' Stars said.

Mediators said the Iran-Sinars agreement doesn't include those provisions laid out by Fars. But they still look the situation between seriously after Iranian officials communicated those demands to Arab mediators leading to a setback in the talks.

The permanent American naval presence in the Gulf of Iran was a call to have the U.S. took over a British base in Bahrain and later made it the headquarters of the Navy's 1978 Navy. The U.S. forces were not to be disorganized in recent decades, reaching 80,000 troops at bases in Kuwait, Saudi Arabia, Qatar and the United Arab Emirates.

But Iranian attacks on these bases have forced the Pentagon to obligate troops and to rely heavily on less-volunteable installations outside the Gulf.

WORLD WATCH

LAST WEEK: A clean air dancer during transit services for Negative mountaineer For Bahadur Gunung on Friday in Kathmandu. The climber was one of 10 who died after an avalanche struck the group July 30 during an expedition up Broad Peak, the world's 12th-highest mountain.

SERRA

Fires Break Out Amid Heat Wave

That smoke off the river a wooded area in northeast Serbia on Friday as authorities raced to contain a major wild fire, while other States raped across the country and a-borne heat and prolonged drought gripping the Balkans.

Firefighters used helicopters to drop water on the lower side along Portugal – the 60-cm zone a nature reserve about 40 miles from the capital, Belgrade, Another for raped river Krajane.

The heat wave showing down on Europe in recent weeks has not indicated temperature records on multiple countries, but to drought that have strained national energy systems and fueled wildfires from Western Europe to the Balkans.

—Associated Press

FRANCE

Pogo Leo to Meet Abuse Survivors

Papa Leo 800 will meet with survivors of clergy abuse during a four-day trip to France next month, the Vatican announced on Friday. Leo met with 64 abuse survivors during his recent trip to Spain, where the Cubanists hierarchy has only recently begun receiving with its impact of abuse. The run, a convoy after long disrequiring the severity of this scandal.

In France, a 2021 report continued 2000,000 children had been sexually abused in the past, by church personnel. The post77-led month signaled commitment to continuing the fight against clergy causal abuse by appointing French Blame Tideault terry to face the Sabanas' child protection advisory commission.

—Associated Press

KENYA

Elephants' Deaths Blamed on Poison

Sahara elephants died last month in Korpus' Ambasati National Park from suspected cyanide poisoning after eating tomatoes in nearby farms.

Investigations are ongoing, into how cyanide found its way into an ecosystem where wild and domestic animals covert. Growers have disputed claims that cyanide from these tomatoes killed the elephants.

The wildlife service Friday, said it requested the Post Control Products Board to investigate whether the chemical 'may have been improperly used, stored, or disposed, and whether water, soil, or grass may have been contaminated.'

Kenya has been recognized for misguiding its elephant population in more than 34,000 individuals.

—Associated Press

SRI LANKA

Inmates Killed In Prison Clashes

Three inmates were killed and more than 20 were injured in two separate prison clashes in Sri Lanka on Thursday and Friday, a government minister said.

In a third detention facility, officials used four gas to control inmate protests Friday.

Public Security Minister, Ananda Nityapala told Parliament Friday that one inmate died at Columbia Magazine Prison in the capital, Columbia, the Thursday when about 40 prisoners claimed 2000 breaking out of their calls.

Two inmates died Friday morning at Kuruwalla Prison in Kuruwalla town, about 50 miles from the capital, 90- upside said.

Prison officials couldn't be reached for comment.

—Associated Press

JAPAN

Typhoon Hits Parts Of Country's South

Typhoon Heights moved over Japan's southern remote islands Friday, causing a more airport on Okinawa to close and ground up at flights in and out of the island, while sending hundreds of people to take shelter of avocados on centers.

The typhoon was just heard of the news about of Okinawa with maximum series of 50 mph as of Friday afternoon, according to the Japan Meteorological Agency.

The latest airport on Okinawa island and it closed Friday and all domestic and international flights in and out of Kobe have been canceled.

As of midday Friday, 240 people had taken shelter of evacuation centers across Okinawa, the prefecture said.

—Associated Press

International Trafficking Network Is Smashed

An international police-operated aid by Spanish authorities Esmaehed a criminal network involved in trafficking migrants, drugs and weapons across the Western Mediterranean, the European Union police agency Esmepid and Spain's Civil Guard announced Friday. The laundress and ongoing underscored the professional and highly lucrative nature of migrant and drug smuggling operations in the narrow sea that separates Europe from North Africa. Spanish authorities described the network as one of the 'largest criminal organizations specializing in maritime human trafficking in the Mediterranean.'

Esmepid said the network 'arranged storage, transport, refueling, maritime transfers, sexual maltreatment, and counter-surveillance services' for other trafficking, 2021 said.

The agency supported and helped to coordinate the operation that Spanish authorities launched in 2023 involving Spain's Civil Guard and National Police, as well as French, French and Portuguese law enforcement and Esmepid.

The service came as a result of an 'action due' on June 16, Esmepid said, that led to 'if an action' upon the 2021 Algerian and the seizure of 18 motorholes, drugs, satellite phones, a handgun and more than 2,000,000.

The network had a two-way smuggling route between Algeria and Spain, transporting drugs to the African nation and examining hours with weapons in the 'African City, Spain's Civil Guard said. 'There are considered responsible for at least 64 migration operations through which they all rapidly smuggled more than 2,000 migrants into Spain, showing a 2,000-mile population, 24 million euros,' the Guard said.

—Associated Press

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WORLD NEWS

People in South Korea watched news coverage Thursday of North Korea's ballistic missile test launch.

North Korean Missile Test Boosts Regional Tensions

Pyongyang fired a ballistic missile off Japan, after Tokyo launched Tomahawk

By Baox Yoon SAN JONAH FORTUNE

North Korea's test launch of a ballistic missile that joint week in starting fresh kitchen with Japan, the latest example of growing military tensions among Pyongyang and U.S. allies in the Indo-Pacific.

North Korea launched a short-range ballistic missile Thursday into the waters between Japan and the Korean Peninsula, said South Korea's defense ministry.

The timing of the launch, coming on the 8th anniversary of the U.S. bombing of Hiroshima and just days after an

admonition from Tokyo about the rising threat from North Korea, suggests that Pyongyang was seeking to send a warning to Japan.

Election between North Korea and Japan has been increasing. The regime

of Kim Jong Un has blasted the deepening of military ties between the U.S. and Japan. Meanwhile, the U.S. and its allies in the region have expressed alarm about North Korea's

increasing belligerence. In the days leading up to the missile launch, Kim's sister Kim Ye Jung criticized Japan's first-ever test launch of a U.S.-made Tomahawk cruise missile, as well as To-

kyo's participation in U.S.-led military exercises earlier this year. She accused Washington of being behind Tokyo's "dangerous military moves."

"One effective way is to make Japan feel that its security has been

exposed to greater danger," she said Wednesday.

This past week, after Japan's Tomahawk test, North Korean tests media accused Washington of turning

the U.S. forces in Japan into a "de facto war command." It would continue to expand its nuclear program. China and Russia have joined North Korea in condemning the expanding scope

of U.S. military cooperation with Asian allies.

Japanese Prime Ministry Sanse Takashi has been beefing up Tokyo's military with new weapons and capabilities. Japan recently announced plans to deploy an Aogao destroyer in the Pacific.

In a defense white paper released Tuesday, Japan cited growing military coordination between China, Russia and North Korea as a heightened security risk.

The report raised concerns about the possibility that Russia's transferring nuclear and missile-related technology to North Korea in exchange for the Kim regime's deployment of North Korean troops and weapons for Russia's war in Ukraine.

Pyongyang's state media didn't report on the Thursday launch.

Amanda Knox's Fringe Show Spurs Free-Speech Debate

By JAMES BROWNEE

Amanda Knox's debut show at the Edinburgh Fringe festival has opened up a fresh debate on freedom of expression, years after the American was convicted and later acquitted of the murder and sexual assault of her roommate Meredith Kercher in Italy.

Kercher's sister, Stephanie Kercher, told the BBC this past week that Knox's show treasures the murder of her sister in Perugia, where the two women were students nearly two decades ago. She goes her backing to a new petition to get Knox's show pulled from the lineup at the Fringe, which is an annual event featuring comedy, music, theater and art.

Knox has defended the show, saying on her Instagram account that her performance "Knox's Meredith Kercher's memory and calls out the violence that was done to her and to me."

The director of the Fringe Society overseeing the festival, Tony Lancaster, dismissed the petition, which has gathered more than 1,000 signatures. "I think canceling it or pulling it, just because we don't necessarily agree with an element of it, it's a slippery slope from them," he told LBC radio in the United Kingdom.

Kercher was found enabled to death in November 2007 in the apartment she shared with Knox and two Italian women. The killing became a global phenomenon as suspicious fell on Knox and her then boyfriend, Raffaele follicito. Knox and follicito spent nearly four years in prison during the initial investigation and murder trial before they were freed by an appeals court and acquitted by Italy's highest court in 2010.

Another man was convicted

Amanda Knox was acquitted of murder in Italy in 2010.

of Kercher's murder after his DNA was found at the crime scene.

Knox returned to the U.S., where she began to campaign against wrongful convictions and participated in the production of several television documentaries and dramas.

Her new show, "Cartebeed," is a reference to reports on some media that she performed acrobatics in the police station after Kercher's death. She has pitched it as the story of a woman nearing 40 who is hounded by what happened, "especially when half the world is telling her to get over it, while the other half still thinks she's guilty."

In her Instagram post, Knox described the petition to pull the show as an attempt to shame her into silence.

"It's a fairly precise description of what 'Cartebeed' is about and why it deserves to exist," she said.

The ultimate decision on whether to go ahead with the show lies with Knox and the specific venue where it is being held. All shows in the Il-rujér ran of "Cartebeed" have sold out.

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• • • •

THE WALL STREET JOURNAL.

WORLD NEWS

Rescue workers carried the body of a person who was killed Friday in a shooting at Debskin Nonthaburi School in Nonthaburi, Thailand's second-largest city.

China's Exports Remain Resilient

By Ramesa Mino

China's exports have surged this year, driving its economic growth while threatening to exacerbate tensions with trading partners.

China's latest monthly trade data was released Friday by the country's customs agent.

China's exports rose 24% last month from a year ago in Killai-denominated towns. That was down slightly from base's 27% growth, but still slipped economically expectancies.

For the first seven months of 2026, exports have risen about 3% from the same period in 2025.

Shipments of semiconductor and computing equipment added more than 10 percentage points to China's overall export growth in July. An biggest contributor was China's from 2000, according to Capital Economics analysis. The growth was primarily driven by rising prices.

China's exports to the U.S. increased 17% over over year in July, while imports from the U.S. jumped 15%.

American tariffs on most Chinese goods were available lower now than they were a year ago amid a trade decease, though the two superpowers in recent days have exchanged a barrage of retaliatory measures.

President Trump and Chinese leader Xi Jinping are expected to meet next month.

Monthly Chinese exports, change from a year ago

Source: China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient, China's Exports Remain Resilient

Thai School Shooter Kills Seven

Police say teen shot grandparents and staff before turning the gun on himself

By GABRIKA D怡和编辑

A Thai teenager killed seven people in a riotspot that began at his home and ended at his school outside Bangkok, police said Friday.

The 18-year-old boy used his grandfather's gun to kill two of his grandparents and went on to attack his high school north of the Thai capital, police said.

The shooter killed two teachers and three other school staff in Nonthaburi, Thailand's second-largest city. He then turned the gun on himself, police said.

Nine people, including two students, were in critical condition, Thailand's health ministry said. More than 20 others were injured.

The shooting at Debskin Nonthaburi School was the latest in a spate of shootings in Thailand, which has more

A woman wasps beside the body of one of the seven victims killed in a school shooting.

guns owned by private citizens than any other country in Northeast and East Asia.

The Thai government doesn't release data on gun ownership in the country of 72 million people. However, a 2026 report by the Small Arms Survey, a research project at the Geneva Graduate Institute in Switzerland, found there were about 10.3 million fore-

arms in civilian hands in Thailand, of which 4.1 million were unlicensed.

Last February, an 18-year-old gunman killed the director of a school in southern Thailand, months after another shooter killed at least five people at a Bangkok market.

Three and other incidents have drawn attention to a controversial Thai government

program that allows police and soldiers to buy scheduled firearms. Experts say the program has contributed to the high number of unlicensed guns in circulation in the country.

Training Pwpan, a spokesman for the Royal Thai Police, said the suspected shooter found his grandfather's teen handgun and ammunition. He fatally shot his grandparents

at the home he shared with them before heading to his high school, Training said.

Nothing Chosetom, a volunteer first responder who said his daughter was a seventh-grade at the school told media he rushed to the school to help his injured. When rescue workers entered the building, they found the suspect armed with a handgun and injured teachers and students in corridors and on staircases, he said.

Police said they attempted to persuade the suspect to surrender, but he shot himself. A search of his bag found more than 30 additional rounds of ammunition.

Prime Minister Amatin Chanervakai said the suspect might have acted out of stress and frustration over his academic performance.

"I understand that his grandmother was a teacher and wanted him to perform well in school, and she was quite strict and demanding," Amatin said. Police also learned that he had been an der stress over his studies and had complained about it.

Canadian Job Market Improved In July

By Rona M. Wrennart

OTTAWA—Canada's job market continued to warm up into the summer, with the private sector being faring in July that helped push the unemployment rate to a two-year low.

Employees in the country added a stronger-than-respected 79,100 jobs in July, the entire Canada said Friday. That brought the rise in an employment over the last three months to 100,000, removing a political early in the year.

The unemployment rate declined 0.1 percentage point to 6.4%—a third decline in a row after 0.10 (0% in April, and the lowest level since July 2026). Economists were expecting the jobless rate to hold steady with a modest 20,000 in employment, similar to Dutch alone.

The labor market's recovery adds to signs Canada's economy in settling after being sluggied by trade uncertainty and U.S. tariffs.

Growth has picked up after the economy contracted to begin the year.

The number of employees in the private sector rose by 57,900 last month and the ranks of the self-employed increased by 44,000.

The participation rate—the proportion of the working-age population who were either employed or unemployed—aligned up 0.1 point to 65.1%. The employment rate, the proportion of the working-age population that is employed, ticked up 0.1 point to 63.9%.

In Alberta, a Risky Bet on Secession Vote

By AMANDA CHARTS

HIGH RIVER, Alberta—Danielle Smith, the partner of the oil-rich province, is regarded as a materials with a reputation for taking political risks. She, she is embarking on perhaps the biggest gamble of them all.

Smith has paved the way for a referendum on Oct. 10 that will ask if the province should stop at Canada to start the province toward a second, hindrance referendum on whether to leave it for good. The idea has joined Canada, which depends on Alberta's oil and gas stream and is in the center of a trade fight with the U.S.

"I've watched the separation movement since I got involved in politics back in the '60s, and I don't think I've ever seen the support as high as it was after the Liberals got elected last year," Smith said in an interview, referring to Prime Minister Mark Aydel, party. She said 700,000 Albertaans—out of about five million—have signed petitions either for hearing or sharing.

"I think we need to have the debate and have the answer," she said.

The outcome will have been nothing conspicuous for Smith's legacy, Alberta's bottom and Canada's efforts to buttress its economy amid, fraying U.S. tax. Carers, who led the Bank of England during Brexit, has called the referendum a "dangerous kind."

Smith points she wants Alberta to remain part of Canada, albeit with substantial autonomy. But she made it easier for separatists to have a vote, and critics say she flared their grievances.

The referendum is making no one happy.

Other promises oppose it.

Alberta Premier Danielle Smith has cleared a path for voters to choose if the Canadian province should pursue a referendum that calls for independence from the federal government.

businesses warn it could chill movement. Separators want a stay-at-leave vote now, not a referendum on a referendum, and come have called for her career. Federalers accuse SMES of per-

ing the country's unity on the line to plunder separatists in her base—polls show more than half of her United Conservative Party voters back up a motion. "She is very much

aware that the people who helped bring her to power as premier are some of the most passionate separatists," said Sharih Katz, president of the Angus Real Institute, a pollster. "It's a tough kind."

In High River, a foothill town 62 miles north of Calgary where Smith and her husband once owned a restaurant on a vintage railway car, Albertaans are divided as the usual to hold a referendum.

"I'm which thing is just ridiculous," said Julie Zhang, 60 years old, a retired home parent who supports Alberta's campaign in Canada. "It's just doing

ing people apart." Heidi Dominas also plans to vote for Alberta to remain in Canada but doesn't mind having a vote. "It gives people that feeling of this is how democracy works," said Dominas, 65,

who was working the till at a drug off the main drug.

Frustration with the federal government's treatment of Alberta, home to the world's fourth-degree person oil reserves, has long stibed and flowed here.

In Carers, Thailand's Liberal Party successor in prime minister, Smith has found an unlikely ally. A former United Nations special envoy on climate action and finance, Carers suspend many political observers when he pledged to turn Canada into an "energy right power" and backed a new oil pipeline from Alberta to the west coast of British Columbia.

Smith said improved two with Carers's government to proof Canada still works, an argument she hopes believes the federalist cause.

"I've been very forthright

with the prime minister because he can read the polls just as well as I can," Smith said. "I said you and I have to work together on trying to address these issues in a meaningful way, and so I'm glad to see that he's taken it as very ready as I have."

Polls show a minority of Alberta's support separation, but analysts say the text of the question might encourage SMES to abstain. "A freedom to send a message of protest to the federal government. A May Angus Real poll found 20% of Alberta's supported leaving Canada. When the question was whether to stay or have a leading vote on hearing, 25% wanted the official referendum.

Few Canadian politicians don't fared to dissoute, as act as Smith, 70, a polarizing figure who has helped shape Canada's conservative movement.

She came to national prominence in 2005 as leader of the fledgling, populist 'Will-Steve Party and Arsenet it into a challenge to the Progressive Conservatives, who had governed Alberta since 1973.

In 2016, she made a pamphlet on the 1st article from the party she led to the Progressive Conservatives. She bought 8 would units the right, but Alberta's use it as a betrayal.

Smash and politics and hosted a call to radio show, which she sold does as premier. She staged a comeback in 2022 amid a Chinese Conservative movement, and was in the center of then-Premier home decency over his pandemic restrictions.

"She told everybody what they were thinking and feeling was relevant," said Janet Morris, president of the-based pollster. "That seems to be her magic formula."

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WORLD NEWS

Airstrike Damages Ukrainian Stadium

SURVEYING THE DAMAGE: Ukrainians inspect the aftermath of a Russian strike Friday at Chernomorets Stadium in Odesa. At least one person was reported injured in the attack, according to a government official.

Russia Is Tied to Drone in Germany

By Lana Riccman Anti-Renial Museum

An explosive-laden drone discovered at an airport in Germany this past week likely belongs to the Russian government, according to U.S. officials familiar with intelligence reports about the attack.

The drone was spotted on the tarmac at Leipzig/Ralle Airport in eastern Germany on Tuesday night in a secure area near a Ukrainian cargo jet, prompting the airport to shut down.

The country's interest into time said the incident represents "a new level of danger," pointing to a sophisticated foreign actor as the potential culprit.

Authorities also are looking into a several unidentified airport that collided with a cargo plane after the aircraft aborted its landing at Leipzig because of the closure. The plane suffered minor damage and landed safely nearby.

Authorities inspect the grounds of Leipzig/Ralle Airport.

Russia's alleged link to the incident comes as U.S. intelligence-based Russian President Vladimir Putin poses an increased threat to NATO's east-ern flank.

Now U.S. intelligence experts say Putin could try to test NATO's resolve with a limited assault on an allied country in the next few years. The Wall Street Journal reported: The assessments remain sermative ranging from a

subarctant to a small-scale land incursion.

The Russian Embassy in Washington didn't respond to a request for comment.

German Interior Minister Alexander Erdreindl said Wednesday at the Leipzig airport that while drone sightings near airports weren't new, funding one armed with explosions was "a new threat scenario."

Dedreindl noted that the in-

vestigation into the incident would assess whether foreign powers were involved.

German publications have reported that the drone's detonator failed.

Dedreindl didn't name Russia as a possible culprit, but Western security officials have said they suspect Moscow is behind many events of fate in already and attack European infrastructure.

U.S. and European leaders increasingly see signs of Russia conducting political attacks for the NATO's resolve, including Russian cruise missiles that have landed in Russia and drones flown into Romania.

The threat to European aviation is rising, according to analysts.

From August 2024 to February of this year, suspicious drones were reported at least 164 times in 23 countries, according to a report last month from the London-based International Institute for Strategic Studies.

Startup

Helps Exade Restrictions

Continued from Page One years ago, 67 men 6 families nearly 20% of payments in Russian foreign trade, or more than $100 billion annually. President Vladimir Putin gave it his blessing last year, taking part by video link to the opening of an 83 branch office.

Now, 83% planning to take its services global and fulfill Putin's vision of an alternative financial system outside the control of Washington or Brussels.

Having recently opened its first offices abroad, in Nigeria and Zimbabwe, 87 says it is weighing expansion into Latin America and the Middle East. Extradition don't take their seniority, never create its peers as parades in the West.

"Before, the Western system essentially endured the whole financial world, allowing the West to flip a switch at any time and stop any country from being able to make payments," then told TSNL the Russian state news agency. In July 700 give companies and countries freedom,

because our system is immune to sanctions."

The U.S., U.K. and European Union have all sanctioned 83. But analysts say the payment network has adapted to West-ern pressure, and it touts its resilience amid the sanctions.

In June, during Russia's annual economic forum in St. Petersburg, 42% stand featured a giant ship-plot rig with the company's logo.

After keeping a low profile in its early days, 47 companies on a mass advertising campaign. Digital billboards in Moscow hope its low rates for sending money abroad, a bid to market its services to smaller companies and individuals, like a sort of Western Union focused on internal threat money transfers. One of Russia's most popular imports, Philip Kilkoven, sang a dirty about 42% defiance of European sanctions in one promotional value.

42% website demonstrates its reach by showing flags of dozens of countries, including the U.S., China and Iran.

42 has benefited from rapid growth in Russian trade with China, which has surged since the start of the war with Ukraine at Moscow has drawn closer to Beijing. Some 85% of the payment network's volume takes place in Chinese years, according to a presentation circulated by 42 last year, 40

its website, the company touts its ability to transmit funds to China in four hours.

In 2020, Ilher teamed up with Promenambank, a Russian state-owned bank that focuses on the defense sector, to launch 82.

The bank, now called P2B, was among the first Russian leaders to be sanctioned by the West and cut off from the Swift network after Putin's invasion of Ukraine. Swift, a Belgian-based messaging system used by thousands of banks worldwide, is the inhibited for much of international commerce.

Initially, Russia's corporate-registry showed Ilher owned 53% of 82 while P2B owned the rest. The registry still shows the bank's 49% stake but hides the majority owner. Russian law allows companies to obscure ownership data to avoid foreign sanctions.

To start sanctions, 42 moves money through a network of shell companies in places such as Kergizistan, Hong Kong and the United Arab Emirates, according to the Open Source Centre. A London-based research group that was spun out of 8030, the U.K.'s oldest defense-oriented think tank, back shell companies have credible-looking websites and accounts at local banks, but are secretly controlled by 82 itself in Moscow.

BBC wrote in a June report. Today its shell companies' access to the banking system, 61 can make payments on behalf of clients in Russia.

To avoid taking red flags at the banks, 82 were artificial intelligence to create fake invoices that obscure the real purpose of the transactions, BBC said.

The longterm have featured realistic-looking stamps generated with OpenAI, the research group found.

OpenAI has found no evidence that 82% is using its models, a proven familiar with the market said.

On March 15, 2020, a Kyrgyz front company for 87 paid a Chinese supplier about 10 million for parts used in drones—but the fake invoice showed that the payment was for anti-fresh prints, child car seats and other car accessories, according to GNC.

The groups report was based on a three of 82 files and that logo that were released by hackers last September.

BBC said it corroborated its fortification from the back with cartons records, court filings and other sources. 82 hasn't commented on the back.

Crypto is the other main tool that 82 sees, allowing it to bypass banks entirely, researchers say.

"Crypto is 82's operations functions as a channel for actors who have been excluded from conventional banking—and have few alternatives," TSNL Ltd., a U.S.-based blockchain analytics firm, said in a report on June.

The company's ambitious shouldn't be dismissed, said Elize Thomas, an investigator at the Centre for Information Studies. "I can't do it, search group based in London and backlit in part by the UK government.

"Reaching the level of a Swift equivalent would be very ambitious," said Thomas, who was created 42. "You never say never, it's a threat worth taking seriously."

New Colombian

President Promises To Fight Drug Armies

By Juan Franco

GENEVA, Colombia—446 birds de la Espiridia was inaugurated Friday as president, sowing to launch an offensive using social bombardments and new prisons to extol cocaine trafficking groups that easily resulted in the under the previous letter government.

The U.S. has said it would help the eight-wing lawyer-turned-judicials, a full-length undertaking in a large country with powerful, heavily armed entities that have grown rich from the cocaine trade.

In la Espiridia took the end of office in Colombia's third-largest city, Cali, a symbolic break with tradition that conflicts his pledge to govern from the country's far-flung regional overhaul of the capital, Bogota.

Moments after the great deserts each was placed on her shoulder, de la Espiridia headed off to a military base signaling that security would define his presidency. "I read first my intention to return, lovely defeat narrowwoman and every criminal organization that threatens Colombia's freedom," he said.

Under the departed President Gustavo Petro, a former leftist guerrilla, the government embarked on simultaneous peace negotiations with about a dozen narrow-trafficking groups to urge them to discern and abandon drug smuggling. But under his 7th inf Peace initiative, the groups grew from 15,520 to 28,882 members that read later, said a report released this past week by Ideas for Peace Foundation, a Baptist policy group.

Coca leaf farms, which cultivate the prime ingredient in cocaine, now cover up on a nearly the size of Rhode Island. Clandestine jungle labs produce more than 1,500 tons of cocaine annually, saving nine times what United Nations researchers say was produced in 2022, when the U.S. and Colombia dramatically reduced coca crops with aerial

fumigation. And despite the Trump administration's bombing of drug team, cocaine still flows in large quantities to Europe and the U.S., say America and our European officials.

"Total Peace headed over territory to the criminals," said Sheddin Mercy Pederson, chairman, who supported de la Espiridia's case.

Prior counties that his government seized more cocaine than any other, while extruded by 800 suspected criminals to the U.S. and other countries. "If the UK government now more imposes violence on the coal-catena of drugg comp, then will in an increase of money in the country," he warned in a post on 3 last month. The "world-wide demand for cocaine isn't the fault of any government."

De la Espiridia is an unlikely figure to take on the fight against cocaine. The 40-year-old lawyer has defended underworld figures.

Iain Gopala, the far left senior who de la Espiridia beat in a 1,000 blocks, had followers in a speech Friday that he would fight "to preserve the gains we have achieved over these past years," speaking of French social spending. He also asserted that de la Espiridia had U.S.-collaborate citizenship would make him "an agent of U.S. interests," not that of Colombia.

De la Espiridia, a political service who formed his own political party, shot out of nuclear fire promising to resolve street crime, while beating back native military blood and several groups by the U.S.

De la Espiridia said he was going to enter places carrying drugs out of Colombia to be shot down, and for drug handsharing from both the Caribbean and Pacific coasts to be sunk, a policy in the other President Trump's. "And I'm going to give the order to bomb narrow-toronic camps, using the technology available to avoid even the least impact on the civilian population," he told Garacol radio.

Airstrike de la Espiridia was sworn in as president on Friday.

DONATE, VOLUNTEER, AND ADVOCATE. FeedingAmerica.org/ActNow

Senate Passes Bill to Sanction Moscow

The U.S. Senate approved a Russian sanctions package Friday, the result of a campaign by the into Sen. Lurang. In order to reinforce U.S. support, the Ukraine and try to force President Vladimir Putin's hand as the war drags on. The legislation, which passed the Senate 80-71, would possibly overtime that continue to buy Rus-

sani oil, gas and other exports seeking 72 times after Ukrainian President Vondyanka Zelensky visited the Capital team after Governor Farrell worked with senators from both parties. The show of facts from the Senate is the most substantial news yet during President Trump's second term to 1,007. The dynamic of the more than

four-year war, which has now charred longer than World War I.

Congress has struggled to ensure U.S. funding and enactment flows to Ukraine, but Trump has given a real to the sanctions package, putting pressure for the House to take it up for a vote and send it to the White House for his signature.

—Associated Press

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A10 / Saturday/Sunday, August 4 - 9, 2020

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THE WALL STREET JOURNAL.

FROM PAGE ONE

Al Imperils Software Industry

Continued from Page One: entire businesses will amount to $250 more than features inside most released for models of Al labs. Anthropos and OpenAI, Investors, sourced that some software bets will go to zero, are pushing money to adapt.

"Waiting and seeing is no longer a strategy," said Bruce Liebrechts, chief business officer of Insight Partners, which involved its brand load companies and is now trying to save some of them.

The startups are following because demand is shifting from train that help people get work done to Al "agents" that do the work for them. That is varying leaders of the same chapter of venture-backed startups to lay off employees and overload their companies. Many are changing business models, rebounding products to, in some cases, shifting down and starting and.

Venture-capital investors are grappling with the same uncertainty. Companies that once seemed destined for lucrative 2020 now face an uncertain future. While pouring billions into Al startups they hope are outside the blast-out line of major Al labs, they also are struggling to preserve the value of software companies had before the Al boom, triaging portfolio companies and preparing some businesses to be sold for parts.

'Scare and Inspire'

Insight is one of the investors most momentous with the SaaS on. It built a reputation that decades ago, many software winners took an business software company. Monobroster and cybersecurity startup Win, which was acquired by Alpha, Inc. But the development of the newest faster than Insight reported. The advice and tactics that helped build software companies for more suddenly needed to be reworked.

Last December, Insight co-founder Jeff Hering, chief staffers at in Manhattan headquarters that if they weren't in the boardroom telling companies they should be doubling their potential revenue opportunities with AI, they weren't thinking big enough.

"I call it scare and inspire," said Liebrechts. "That yet is to show by power to what this could be."

Just five, a former member of the Israel Defence Forces, is the founder of InsightShares, which includes several of the third dozen. Fifty-one percent of Texas venture-backed customers in the first half of the year were software or IT services companies, up from one to one earlier. As more companies fold, Texas hopes to persuade founders to make the decision while they still have cash in their hands.

"If they are not AI-first, they are having a really hard time fundraising right now," Texas said. "It's sometimes easier for a SaaS company to just shut down and just restart."

Overall, up from one to one of the founders, investors and lawyers to gather in the Post the, a Manhattan cocktail bar, to swap stories on startup fail-

Clockwise from top: Attendees arrive at a SaaS industry conference in San Mateo, Calif.; Said Aggarwal realized that his company Raffle, needed an overhaul; a Raffle-branded stuffed dinosaur; the office of the company now called Von.

ners and the strapping to compare with AI giants. "Very rarely are you a first-time founder and you hit it out of the park," Texas recalls telling the crowd.

Signing a drink of the gathering, one woman capnaker of fared a blunt assessment of a company in his firm's portfolio. "Anthropic is going to eat their hands."

Jason Lonskin, founder of a SaaS organization called Sazify, said the industry has bifurcated into companies that have embraced AI and are growing and others who haven't and are struggling. "All the pre-AI guys are gone," he said. "They're just not growing."

That point was driven home at the group's annual conference in San Mateo, Calif., in May, when a plane appeared overhead young a barber that read "SaaS is dead."

That stunt was the work of

Mattey Medina, who dropped down an ideal execution of an early hard leader, Deborah, in 2004 and now has a startup called Paul Ostrzack was valued at $4.4 billion in 2021, but has since reduced its workforce by about $50.

Many of the software startups that launched in the early 2000s, Medina said, aren't growing fast enough to elicit any real interest from public-market investors, putting them in a holding pattern.

"Every CEO that I talk to is considering quitting and starting again," he said. His new company helps companies that make AI agents determine how much to charge customers.

Adolph Mitra, the current CEO of Ostrzack, said the company has restructured its new business, which uses AI agents to build revenue operations without that can perform tasks autonomously, he said, is growing quickly.

Some software-service companies that have shifted giants are reporting growth.

Lantana, a digital-based company founded 15 years ago, also pushed into AI, using it to estimate its classes processing operations by turning a 16-meg-pricing process that often took more than two weeks into one that can now be completed in about a minute. That heaviest profits, said Lantana CEO John Zartot.

Lantana, a decade-old sales software company, retrained its workforce and recently surpassed $900 million in annual recurring revenue—a method used by software companies that annualizes advertising—to revenue-growing over 300-year-olds.

Johnson, a 15-year-old customer-service software business, built an AI customer service agent called Fin. It reached $800 million in annual recurring revenue earlier this year, and Salesforce agreed in June to acquire Fin for $20 billion.

Boom and bust

Aggarwal, the 34-year-old co-founder of Raffle, grew up in an industrial city in America. India and started his career in management consulting in New Delhi. He moved to San Francisco in 2008, joining marketing software startup Motion. At the height of the pandemic, he decided to start home business.

To save money, he moved back to India, going for months without seeing his co-founders.

Apooma Verma and Milan Haifa, first six weeks, the two built a software product for salespeople.

Funding flowed easily. As perwal said, including from Indian subsidiaries of Ampara Capital and Lightproof Venture Partners. When pandemic travel restrictions eased in late 2021, the three founders gathered for planning sessions and some taking in Karada, a small town in Indur. Monobroster forks, the Christmas Day, they received a term sheet for a be-

care of funding round led by Insight.

Aggarwal's 1 to 1-1-1 back to San Francisco, and Raffle expanded

signing co-clients such as business-moverse startup Rigaling, cloud-design company Pipma and productivity-management startup Belcon. It dropped users a minimum of $20 a month, attracting dozens of customers and raised nearly $50 million from investors, he said.

By 2020, though, advancements in promotion AI made it clear that Raffle needed to incorporate the new technology. Aggarwal wasn't yet committed to lead to her the business on it; Signing Raffle would no share with just a dollop of AI. That changed the next year,

when OpenAI released its first reasoning model, oil, which showed that AI could become the core of a product, not just a feature: Raffle needed to rebuild much of its underlying software so that AI agents were at the center of the architecture, not loaded on the outside.

"You have to have the chips and start from the ground up," Aggarwal said.

The company's 2020 AI, Aggarwal realized the effort to integrate AI toward working. The employees had spent months trying to support Earth's original product while building a new AI "superspace" that could be successfully update Salesforce records, among other tasks. Both efforts were stalling.

He told employees he was a real CEO who sales, marketing and customer-vacuum teams. The strategy should form 70 employees to 15, retaining only a small group to rebuild their software.

"The first thing that was very hard to letting go of the people that you said a dream is," Aggarwal said. "Now do you tell the team that, 'Hey, what we did before is not into the software. We have to start from scratch."

Invested advice

In May, Insight held a conference-named-survival workshop in Hollywood for about 200 successors from its portfolio of startups. Attendees criticised the conference, leaving Universal Studios and hearing from newcomers comparing the AI boom. On the set of the Beha... Midfielder stream "Insight's Place," they peppered the producer with questions about how Hollywood uses AI.

Marian Rukowski, a member of Anthropos's applied AI team, gave a presentation about how the company introduced its product to everyday processes and how other companies can do the same.

The message from Insight Partners, Adapt quickly or be the same.

By the time Aggarwal argued for the three-day affair, he had already laid off staff, stopped adding the company's original product and was rebuilding.

Raffle developed an operating system for sales and revenue teams that sits on top of companies' other software tools such as Salesforce. It functions like an AI teammate, independent

industry completing tasks such as tracking customer information, and the use of training, sales, opportunities, spotting deals that may be aligning and forecasting future revenue.

Aggarwal began testing the new product, called Von, in February. In the spring, he announced the company's new company and rebranded it as Von.

The company recently reached $5 million in annualized recurring revenue. To celebrate the 2020 AI, Aggarwal pulled three bottles of Chumagare from the office fridge and passed them around to the AI employees based in San Francisco.

"I was a homeless carriage and I was 40 months ago, and I definitely saw the writing on the wall," he said. "I have made that transition...I am on the other side."

Wine Still Rules—In the Sky

Continued from Page One

Matt Burnham did a double table when he and his family got upgraded on a United Right to fire and saw what was being served in business class.

"I looked at the wine list, and I was like, lady o— this is pretty good," he said.

Matt Burnham thinks social media before international flights buying for more updates.

"As a restaurant, you're not sure at 2020 to 2030 for a bottle that United has on their beverage call," he said. "It's a nice contract to the food you typically get." United says it's working on it, but வேறு the food takes longer than people do.

The scene on board is a departure from the days when

air travel was associated with wines sold in grocery stores and gas stations, said Darlin McCoy, chief executive of Lawrence Wine Division. "You almost thought you'd get made fun of for drinking the wine on phone."

McCoy said he now won his winery's luxury brands being tagged on social media by passengers aboard United flights.

"Those are storm clouds on the ground, but outdoors and outdoors in the air," said Mark Coleman, chief commercial officer at Inn时间, which helps resources get their bottles on airliners like Debra and United.

Airliners weren't exactly opposed to good wine before. But many believed customers were more interested in slang tickets than care vishages. Plus some transducers won't able to meet airliners' volume demands.

Then Americans started drinking less and the bottom of project out of the industry.

California wineries stopped $20 million since in 2015, down 12% from the prior year. Some vineyards have been ripping out prized grapes as they

Wine is increasingly the drink of choice in the air.

sit on unsold bottles.

The update. Suddenly there's a healthy supply of high-end wines alive years of airliners being told there wasn't enough to serve both ground and air markets. And airliners are getting a warmer reception when they reach out.

"It used to be an easy on," said Doug Front, the master-competitor who helps United make its selections. "Now it's

like, ask me again."

Wineries can well between 4,000 and 6,000 cases of wine a quarter to an airliner. Their roughly the same as getting space on the shelves at 1,000 restaurants at the same time, said Inn时间's Coleman.

Airliners are competing fiercely to distinguish themselves when it comes to wine. "It's a lot of money," he said, "and it's a track to serve some $5 million glasses this year in its Polaris

international business cabin, says it has invested $50 million in its wine program in the past two years."

Debra hosted customers in ways earlier this year to help the airline choose the labels it will serve in its Delta One business class this fall.

"Customers in the air are a highly valuable audience—highly engaged, highly appreciated," said Stephanie Laster, managing director of released experience at Delta One airline control streaming, a documentary from its master-competitor, "The Smoked Cup." this summer on its flight.

But there's the catch. Falling wine in flight may be easier than on the ground, but making it taste good is another story.

Airplane airline' lower humidity levels can diminish equipment ability to taste and smell, leaving light views lasting like water, or highly acidic wines lasting sour and overly lousy. And/or Rotten Tom, the director who was worked with Delta for two decades, said that due to cabin

pressure, wines "don't have the same concentration of aromas in the place."

And the airliner that gives two flavor like Pepsi Run cherry," she said. "Without aromatic concentration, there's much less of a flavor impact."

On too recent flight to Fresno, Fresno was tasked with evaluating how altitude affects taste, aroma and mouth feel for each of his friends. He then takes his first-step back to the winery to protect the best wines for flying.

Another natural wines are still common in coach. But airliners say they're making increased flavor, too.

American now offers hot-spots, are broken sparkling wine, complimentary in the mean cabin to international business cabin. "We have the usual oral and white. It's also available for purchase on domestic flights. The carrier has gone through about 15 million bottles in the past year.

"Airliners are just really the same habits of the Sea-plant Grandma, who oversees American's coloured dishes.

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THE WALL STREET JOURNAL.

Saturday/Sunday, August 9 – 9, 2026 | A11

OPINION

THE WEEKEND INTERVIEW with Samuel Allis | By James Taranto

'Practical Originalism' and Its Facile Critics

Washington sports of his soul have been greatly exaggerated. 'Justice Samuel Allis, who wrote the Supreme Court's opinion resorting, Rev. v. Walls, is criticizing the court announced Tuesday! 'He found Public Radio's Miss Trotney never knew words as the man's voice came on June 30, stuck them away a cannot story, and public the editorial trigger. Her evenness away turned out to be empty, and MPA criticizes the court. 'He, from the Wednesday, 82, was she had been confined to an announcement from Chief Justice John Roberts about staff retirements.'

'Obviously I'm here for another term,' Justice Allis, 78, says a month later, denying a car-covered time visit to his chambers. Some conservatives have publicly suggested he should retire and take one for the team, as Stephen McCormick, a member of the Radio Girdling didn't retire. Barack Obama was president, both under intense pressure from the left. He said: «Life before Justice Allen! 'It's not pleasant as the name that it's a reminder of morning,' he

The justice explains his interpretive method and defends it against a hostile biographer—and his high school English teacher.

says: 'It's like, what are those writers doing up there? They are flying around, but it goes with life to start.'

'I'm sure that he might abstain—if those of the implication that he and a younger replacement would be interchangeable. 'Yeah, think some of those who are so different, and I'm sure that he might be able to see.' he says. 'I don't watch cable news of all statistics, but I assume this is still true.' There I have some

life—menthinge to talk about some important issue, and he is a Democratic strategist; you're knew what that meant. So talk, I'm unattending. He's something, particularly if they're not lawyers, I'm sure that's how they are the court.'

June 30 marked the completion of Justice Allen's 2026 fall term, an anniversary that has occasioned a fair amount of retrospective. Two biographies were published in April, one admiring 'Video' The Justice Who Budapest the Supreme Court and Restored the Constitution' by Walter Benting, who said one hostile, 'I'm sure he has the Sixties Sun Allis and the Triumph of the Conservative Legal Movement' by Peter Candice. His own book, 'So Ordered An Organized' was published in the Court, and the Country's collection of uprotes appearing, for time as a justice, is set for release on the first Tuesday of October.

'He, that's a 'Apostolic' story in torturing details and might have been good if he had written without an ideological agenda or with the skill to conceal it. Instead, his promise pervades the narrative like a Proudice Statista: that a vision of the state is a good, but the pathological and requires a psychological explanation. Mr. Gantt, his path Justice Allen's philosophy down to 'Human findings of anger and lootness' and from such a series of gossips quotes from people who knew the young Sam Allis and disagrees of the older man's work on the court.

'I'm a postdoctor-Manager.' 'He certainly at Princeton, I would say, was just a story just, and bordering on humble, and one friend who went on to a legal career, and I would describe him as his written opinions or from the bench as human figures and anyhow.' I listen to a lot of Supreme Court and arguments, and sometimes I am shocked at the tone and the harshness of some of the

learners who has encountered Justice Allis off the bench can arrest that he is a nice and humble job, and he demonstrates his love and the very respecting philosophy when I describe this line of criticism from the book. 'Well, I suppose I don't like to read about me well,' he says. 'As I suppose I don't like to read the book, I would anyone assume that a confident professional of the pleasure of his field must have an exercise age'. As he 'confesses,' 'that's probably about substance more than tons for definition, friends are not. I'm sure that I'm sure that I'm not so desirous of their alleged friends, it is in the service of a higher business.'

To the extent that Mr. Candice advances a propagational critique, it is that Justice Allis doesn't be up to his failure to see 'a person—one who interprets the Constitution's test based on its original public meaning at the time it was adopted. Justice Allis has called himself a 'practical originalist' and Mr. Candice continues the adjective as a self-conferred license to cheat. 'Sometimes, he would deviate from an originalist analysis to raise practical concerns.' Mr. Candice writes of Justice Allis's early years of his life, and he says these observations served to push him in an even more conservative direction.'

Mr. Candice quotes sources who agree. 'Based that Allen's philosophy became more ideologically motivated than he expected they would be,' says the widower of David J. Hill, who claimed for Judge Allis on the Third day. 'Certain Courts' depended in 1969 by and later. 'I think he is a good, but his whole decision itself as 'at the forefront of the fight for legal and level equality for the UMPH—commencing and reversing living with age of the government.' 'I think that I found the justice's views on water on marriage,' persuades distressing. 'But if I find he remained an originalist argument for his purpose, or an even make it into Mr. Candice's book.'

Somebody has offered such an argument, and Justice Allis even more is at the onset of our interviews before the court. 'I'm sure, too, how. When the court was considering the public's design (2021), Robert Calabrese, an originalist law professor at Northwestern University, joined a friend-of-the-court brief arguing that the 1956 Annual Meeting of the Court of Justice, 'prohibited, some legislation that discriminate against a social class' and that laws incorporating the traditional understanding of marriage and social life.'

He points adopted that argument is even after the brief in abstract. Justice Antonio Scalia asserted the opposite: 'When the Fourteenth Amendment was ratified in 1848, every State limited marriage to one man and one woman, and no one doubted the composition of doing so. That involves these cases.' The 2-4 majority decided the case principally on due process grounds, in the sort of traffic being constitutional language. Justice Anthony Romano, the court where the district involved, was.

Justice Allis wrote his own dissent and didn't just Scalia's. He took the Calabrese argument seriously enough to relief it respectfully as a 2020 speech, which is not a good, but it was a good, but it is coming back. He cries it as an example of 'human organization' one of its 'strong turns' that responsible sometimes take. The same is the term that was the Greek myth who lives too close to the sea.

'You can take an important principle that is in the Constitution's case, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not a good, but it is not

Justice Allis characterizes Mr. Calabrese as 'lights a brilliant originalist scholar' and clearly regards

his analysis as an honest mistake. He has two pictures for conservatives who sent to default originalism by measuring its practitioner against a care-zone of the method.

'Some of those misrepresenters,' says the court originalist in be unpalatable. 'I ask for an example, and he cries a gap Scalia once made.' He said at the time of the adoption of the Eighth Annual Meeting, it was acceptable to sound people and put them in the stock and months children of a young age. He said, 'Well, I'm a weak-hearted originalist because I want you to be. I think they love that kind of an example.'

'What is the practical originalist's view of branding?' 'The pragmatic view is that that is not an issue that has some before us.' Justice Allis says, with a thackle.

He became good. There is not an algorithm that yields a definition answer to every question that is asked, and determining the approach level of generality requires an analysis of what this provision is getting at. What is the fundamentality of the world's history, but the social recognition that. Although there were instances in which I thought that his view of original public meaning was too intellectual.'

He cites Rowan v. International News (McCormick, December 2, 2015), a clinic in how the new postgraduate method can produce different results. By a 7-2 vote the justices struck down a California law prohibiting the sale or rental of rations subsequent to minors. Justice Allis joined the judgment on narrow grounds but disagreed with Scalia majority opinion, which likened the games to 'The Citizens' 'part of the Plan' and other literary works describing extreme sinister. Justice Allis's remarks 'We should not jump to the conclusion that new technology is fundamentally the same as some older thing with which we are familiar.'

Justice Quinton Thomas produced a third originalist opinion, which diverged even more distant really from Scalia's analysis. He dissented on the grounds that: 'The freedom of speech, as originally understood, does not include a right to speak to minors (or a right of minors to access speech) without going through the minors' parents or guardians. 'I'm doing constitutionalists were split too. While these liberal justices joined Scalia's majority opinion, Justice Robert Hirtz a dissent that housed on such circumstances that we'd harm from violent videogames.'

Social science was also central in another, more famous Brown. 'I think, if so, I'm a 'Propane (1888), the court upheld 'separate but regard' segregation, with Justice John Marshall Harlan declaring in a June dissent that 'our Committee has its core client, and it is not known our incentive classes among citizens'. Brown v. Board of Education (1906) overturned Propane—set of 3-1888's (on the Constitution's 1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1

This time I, over a dissent from the three liberal justices, the court issued an unsigned order in Allen v. Milligan, a congressional redistricting case from Alabama. It began by writing that Louisiana's law was not a legal law, but it was a right of minors to access speech without going through the minors' parents or guardians. 'I'm doing constitutionalists were split too. While these liberal justices joined Scalia's majority opinion, Justice Robert Hirtz a dissent that housed on such circumstances that we'd harm from violent videogames.'

I want not aware that that was the first time we had over said it,' he says. 'Then he double-checks my claim, asking: 'The court hadn't said if in Trudeau for Fair Admissions?' It hadn't, although that 2020 decision, written by Chief Justice Roberts, is a previously quoted Sanitary Procy dissent, and Justice Thomas Hirtz a sole concurrence 'to offer an originalist defense of the individual Constitution.'

A few days before Justice Allis said I met, Justice Chris Baird gave a speech in which she offered a qualified defense of the court. 'Is this court very conservative? Does it do a bunch of things that are out of the pleahead of the conservative legal movement that I think are deeply owned,' 'but more, yes,' she says. 'But is this court the right of purpose for the current administration? I think definitely not.'

The president lost three major cases in the 2025-26 term Court of Justice, Procy vs. Procy (1888). Procy v. Cost-Related Burson's independence and Procy v. Amherst (furthright citizenship), lack of the decisions was written by Chief Justice Roberts and joined by the three liberal and one or two of the Trudeau state legislators. Justice Allis 'as well as Justice Thomas' dissented at all three cases.

This book his critics to accuse him of being a rather strong for the administration. 'As Young

pressed for more power,' Mr. Candice writes in his prologue. 'We drunken of cases threatened by the 1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1

'I vote so every case the way I think the case should be decided,' Justice Allis says. 'If that means a high correlation with what Trump has been doing, then, there are no correlation with what Trump wants, that as well, I think it is wrong, it's absolutely wrong, to say, 'Well, you know what? I'm go away.' I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one.

'Much of today's conservative law is a good one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one.

Occasionally, though, that provides some lovely, I can't trust sending Justice Allis to respond to a passage of Mr. Court's speech. 'I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one. I'm not going to be a very bad one.

'When he was on that sheet list, and a couple of newspapers and TV people came to interview me, and I had remembered seeing Sam had a strong mood compass,' she says. 'That's what I believed at the time' he was straight and seldom I think he had a sense of right and wrong. When Sam has had a good up all of these ideas now, you've got to... Now has he become this allot, allot conservatives.'

There she takes a stalk at your householders. 'We now very responsible, made sure everything was on the school line.' Does his permonging was very well formed. There was nothing sloppy about it. We was very comfortable, very unblocked. Does that equate with rigidity? I'm not going to answer that. I'm not going to be a good one. I'm not going to be a very bad one. I'm not going to be a very bad one.

'It's a prime example of constitutional judging. Does anyone know that the Supreme Court's case would draw a different conclusion about Justice Allen if teenage Sun's handwriting had been strenuous.'

Justice Allen listens as I read Allen's speech. 'I'm not sure we're graciously.' 'She was a very good teacher, and she did make an important contribution to my education by saying, we're not sure. I'm not sure we're going to be a very bad one. I'm not sure we're going to be a very bad one. I'm not sure we're going to be a very bad one. I'm not sure we're going to be a very bad one.

Mr. Toronto is the Journal's editorial features editor.

The Intricate System That Lets You Find Yourself

By Michael Subler

merely is these pages last month about the statement. School is a question. The people reflect simply on. What time is? Civilization can on a manufactured conservate, street time, maintained by atomic clerks and humble institutions. Another deceptively unapologetically, the law set—'has a similar answer.'

The question seems almost because we treat location as a fixed property of the ground. It isn't. In 2016 the United States Senate opened Japan's main island roughly 8 feet to the rest in business. Every narrowest coordinate is the country—boundaries, bridges, canoees—one—outland. The city is a small, large, and large place in urban areas at a pace of almost 12 miles a year. The speed of a finger-nail's growth. The continent had drifted to far from the official coordinates by 1920 that the government moved the entire nation almost 8 feet to the city. The city was a small, small reality. Scandinavia rises from the sea, relieved of its 30-day glaciers.

Council cries out. The Earth's center of mass wonders are so shown, until and next in 2025.

The ground has two positive sides for measured against something that doesn't 'doubling' on Earth qualities. It's a scientific and the world's core disaster, is he off collision, gasses, the business core of galeam. When all light were away, sheered slightly by radio telescopes across multiple

The structure underlying 1975 were distant opinions to locate places on Earth,

commonly and cross-checked with a new feature of art (2025). The route is the International Terrestrial Reference Frame—civilization counts are once to 'where.' Every dead and dead trap, every like all in its most phone originates from it. 1975 is the delivery system, and the queue 90 miles of home is the same. Americans are about to feel this abstraction directly. The federal

government is replacing the reference system underlying American coordinates. The old one—built on the 1980s—is the old make an important contribution to my education by urging me to read more broadly. So I won't say anything. I didn't know that she had said. 'This is the same thing, but it's no more about me had changed in the way. An interest, that's news to me.'

The most of history, a few feet of time, was not nothing. Our opinion: Between machines demand centimeter precision. So a text for a measured in millimeters, so tiny drifts in the reference frame prevent accurate calculations of sound, talk. The frame itself has no issues, no reviews and no leaflet, it survives on aging observations, international cooperation and a scientific community small

enough to fit in a lecture hall. The United Nations passed a resolution in 2010 urging government to continue the military to make its headlines. The U.S. rightly designates 1978 as critical information, but the reference frame that gives every GPS signal its meaning, starts we such protection.

Although GPS radiation are U.S. sources, it is very beneficial. On reference frame miles on an international patchwork of aging radio telescopes staring at gasses, laser ranging stations and previous ground markers and the radiating wavelet makes it that network were designated critical information in would mean funding and protecting those ground notes and data population. One of which survive on academic grants.

What's not 'when' around given to us by nature. To keep them getting lost, features must engineer and maintain both frames of reference.

Mr. Subler is a physicist at the University of North Carolina at Chapel Hill.

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A12 | Saturday—Sunday, August 8 - 9, 2020

OPINION

THE WALL STREET JOURNAL.

REVIEW & OUTLOOK

The Fed Status Quo vs. Kevin Warsh

Kevin Warsh began his tenure as Federal Reserve Chairman in May promising to form, and a single fellow day the central

banking Wall Street status quo in fighting back. This includes the almost daily media effort to portray the lifelong inflation book as a burn again does to please President Trump.

The latest story is that Mr.

Trump offers calls Mr. Warsh, which is playing as guilt by association. But this is unsurprising to anyone paying attention to the Trump Presidency, or even to some other Fed Chairs. Also, Government officials say, Mr. Warsh thinks, if an Bernanke was posted at the top to Treasury chiefs Mark Paulson (George W. Bush) and Tim Goldherr (Barack Obama).

The best of Mr. Warsh isn't when he talks to It's whether he succeeds in restoring and maintaining stable prices. And on that score, the charge is that he didn't raise interest rates in his first two years of business. But his Committee meetings. So he must be a wifout.

Never need that the 9-3 vote in July isn't a raise item in defendable. The Jane Infalene figures on consumer and producer prices, as well as personal consumption expenditures, all came in lower than expected. Recent inflation is shown that when the Jerome Powell Fed cut rates.

The three financiers were regional bank provisions, including everyone on the Fed board of Governors (some Mr. Warsh) to hold rates flat. Mr. Warsh did not find that actually, details board when he took over from Mr. Powell, who has remained as a note-thief governor.

It isn't obvious that Mr. Warsh could have carried the day for a rate hike with this crowd. In any event, all the decision did was give the Fed seven weeks to absorb more economic data before the next meeting in September. Friday's weak July gets expect, for one, health or excess "raise rates now."

Ah, the critics reply, but what is Mr. Warsh's "exactum function," by which they mean how does he respond to new data? He's already told us, "In terms of reaction function, for me sort of disabuse people of a question that may or may not be real and be out there," he said of his July 29 press conference. "Any certain leader, when he or she now underlining inflation moving higher, he or she is more inclined to tighten policy."

Oh, but does he mean it? Well, in July he told the House Financial Services Committee "that the longer that price have been above the inflation target, it's usually a bit harder to dislodge them and get them lower. Our job, my commitment to

you is to take sticky prices and to untrash them." Where's the ambiguity?

All of that is consistent with Mr. Warsh's years in public life. He has written more than 30 times for our pages, and it didn't know what he thinks. He has made price stability a balance of his monetary method. His critique of the Jim Bernanke and Janet Nolan was at the Fed was that they had become so focused on raising inflation to 25 that they were doing more harm than good to the economy, especially via question.

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An irony of the complaints about Mr. Warsh is that he's trying to suppress the dovish contracts of the establishment criticizing him. He said last week: "There is no self-inflation target, there is no self-impact target—not on this commitment's watch. There is only a target, and it is 25." That was directed at the idea that the Fed should tolerate above target inflation, so it was set a new target of 5%. But go ahead and call him to have anyway.

Another target—that his critics were only two happy to applaud the dovish pre-Warsh Fed. They (never) when Mr. Powell cut rates as two rounds in 2024 and 2025 despite inflation well above the 25 target.

Many of Mr. Warsh's critics donned their "From Transitory" person alongside Mr. Powell when he decided as inflation and reached itself in 2025. They also gave Mr. Powell an atutney to August 2025, and they introduced some inflation framework as which the Fed promised to tolerate above 25 inflation to make up for prior periods of slower price increases.

Some critics, especially on Wall Street, mostly want to good Mr. Warsh into giving them forward guidance again. That's one way to interpret the complaint that, despite his clear statement on the 25 target, Mr. Warsh didn't tell the venture that he already the referee that goal. They want him to make their job of pricing risk easier by setting a long-term bond rates. But that's not the job of the Fed, or at least it wasn't before the 2008 financial panic and the onset of QE and the bloated Fed balance sheet.

And that's the real reason for the Warish place. His critics want him to cease and desist this year's 2025. The past years are has been very good for big government. Wall Street and those who hold assets. It hasn't been so good for the young and others who don't. Mr. Warsh wants a Fed that contains price stability to help those forgotten men and women. Judge him by how well he does that.

Russia Hearses from Lindsey Graham

This is too low. Lindsey Graham sought after everywhere to stand for U.S. interests and support freedom across the world. Mr. Senate colleagues honored his legacy Friday by voting Mr. U to pass his legislation to use new sanctions and tariffs to raise the pressure on Russia to end its brutal assault on Ukraine.

Vladimir Putin pays for his 10-6 with revenue from energy exports. Graham's bill would be the U.S. President put tariffs on the 100% on his first five countries that free Russian oil and gas and the top five that enable Mr. Putin's oil sanctions evasion.

One question is the wisdom of ceding more tariff authority to the White House. President Trump has a history of stunning trade powers to push around even U.S. friends, at the expense of alliance and the economy. If the Graham plan knows, what is the future of the U.S. for purpose beyond generating Mr. Putin to quit bombarding Ukraine?

That's a fair concern, but the bill includes some important restrictions on how the President can use it. The language limits the number of countries that can be tariffed. These places "shall not be imposed" if a country's purchases are less than 25% of Russia's total annual gas exports, provided it is taking "significant" steps to wean off of Russian energy.

Georgia Sen. Raphael Warneck had worried that Mr. Trump might preserve tariffs even after a country modified its National. In a Thursday letter to the Senator, U.S. Trade Rep. Jameson Goss said he would lack the legal basis for any tariffs not explicitly approved by the Ingolson's formula.

Graham's bill also has additional sanction, including, on the shadow that that Moscow says for the full length of the 2024-2025 war, that it is until he feels the plan, which is why it's using long-range strikes to promote military and every targets inside Russia. Enacting the Graham bill is a way for the U.S. to compound Mr. Putin's economic stress.

The Senate understands this, which is why the legislation passed with strong bipartisan support. After summer events, the House will have its turn. Let's hope Mr. Putin can't soon forget the name Lindsey Graham.

The Low-Hire, Low-Fire Labor Market

President Trump trumpets the U.S. economy as the best ever, but most Americans disagree, judging from consumer and political surveys. The Labor Department's tapes initially jobs report on Friday before or plain their workmen's tests (2,000) on board. July and a sharp downward revision of 100,000 for the previous two months.

Job growth has emerged a more 20,000 over the last three months and 19,000 over the past year. That's considerably less than the 176,000 jobs that the economy added on average each month during the first three years of his first term before the pandemic. It's also a slowdown from the last year of the Biden Presidency (101,000).

The good news is that the private economy on test is still adding jobs, with gains last month in construction (12,000). Indeficient (22,000) and professional and business services (18,000) and even manufacturing (5,000). But declines in retail (8,000) and leisure and hospitality (40,000) may indicate that consumers are pulling back a minimum and away at their wages. Average hourly earnings were flat last month, which means that income of the inflation chiefly declined.

Local government education shed 49,000 jobs in July, which may be a consequence of federal pandemic targets for schools drying up.

A decline in government employment can be healthy for the economy if Americans can find more productive private employment. But the Labor Department's household survey suggests many workers are quitting the labor force. One important factor is aging workforce is short baby boomers retire, and mass depositions may be another.

The labor force participation rate has fallen to 61.6% from 62.3% over the past year, as the number of Americans who have left the workforce increased by 2.8 million. This explains why the unemployment rate has fallen slightly over the past year (vs 4.5) from 4.7% (Full time employment rate) to 2.6% (Pct. 2 million) over the past year while part-time employment increased by 212,000.

All of this support a low-hire, low-fire labor market with employers reluctant to add jobs, perhaps because of Mr. Trump's whipsening tariffs and uncertainty about the impact of AI. The Institute for Supply Management service and manufacturing serves on demand last month, suggesting the economy is unsuspecting.

But the high labor market may be one reason a mere 30% of Americans approve of Mr. Trump's handling of the economy, down from 67% a year ago. Only a third of Americans back his tariffs, one of the great self-inflicted policy wounds is recent history.

LETTERS TO THE EDITOR

Anthony Fauci, the Ponderoe and Public Trust

Regarding Poppy Secretary column Anthony Fauci Generals Bismuth "Slavarations, Aug. 1: I applaud Mr. Norman for disclosing the problems and smallness of one of my heroes, Mr. Anthony Fauci. The information on the Ponderoe and Public Trust is a lesson to me and others to examine thoroughly those with whom we are inclined to agree. Ever and open discussion and access to information and the core of efficient and honest government. We should be hesitant to place the public trust in the public and give us advice, just as we shouldn't totally combine these with where we disagree. The truth is usually far more complex, something we need to be reminded of from the past."

Boris M. Deacon Washington

Mr. Norman is my own Even though pleading the FFD is a legal right, Dr. Fauci should be ashamed of himself for not answering the public's many questions. He was a public servant, and we all deserve answers.

Jess Weaver

In her otherwise confident critique: Dr. Fauci, Mr. Norman may have drawn the wrong conclusion. She ends her column by writing: "My fear is not. What has happened, that will be a next time, regular people will think. There's no one to trust. We're as our own. That won't be a good thing." If there's not help, the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing. But the government's to be a good thing.

Ken Heron Great Falls, Va.

Mr. Norman ends her commentary by writing that one of the regular people will think they have no one to trust. In fact, there were many people during the pandemic whom Americans could trust: courageous, honest, and honest. He was not always, truth-hiding public health officials and communicators, vaccine developers, delivery drivers, grocery store workers, among home staff and kindly neighbors. There is no reason to believe that such because won't once again rise to the occasion.

Mark Evans Chelsea, Mass.

Is it surprising that, in today's nature of self-promotion, a man said: "Amyi there are the center of global pandemic would occasionally reveal good and wanty as a private journal." The most important lifetime spent largely out of the spotlight as a dedicated public servant. Dr. Fauci should be judged by the utility of the decades of public service, not turned into a political debate for politicians or journalists.

Robert Blumacher Palm Beach Gardens, Fla.

10 like to stand up for Dr. Anthony Fauci. During his month 60 years as director of the National Institute of Allergy and Infectious Diseases, he stood up for us all. He advised each of the last seven U.S. presidents on one vital epidemic, but left the world, including multiple million people of India, HIV/AIDS,เบค (COVA), H1N1 influenza, Skin and Skin Sore (SOC), which causes Covid-19.

Karenace R. MacLean, MD Los Alamitos, Calif.

Finally, Legal Certainty for Cryptocurrency

In "Clarity for Crypto, Not 10" (the term & October, Aug. 1), the American editorial board writes that key provisions in the Senator's Clarity Act, the digital asset market structure bill, are "worth supporting" her then gave on to citizens. The law is not a legal solution. These concerns are misplaced.

The current system issues a law-himic's vulnerable to another FFD style (read: The Clarity Act would provide much-needed legal certainty after years of regulations by enforcement that purports American universities and others. Congress is finally willing to act.

The board argues that exchange awards are a workaround to the former Act's ban on stadiavers interest payments, but this misinterprets the law. The Senate Act presents stadiavers insurers from functioning like the post-taking board by banning them from paying attention to trade in their holders. By contrast, their party en-

change rewards such as trading fee discounts or a lower loan rates are standard promotional packs (like stadiavers and rewards) not only interest yields. The board fails to make the case for how exchange rewards have been made.

The board's argument that stadiavers rewards could trigger a deposit flight from small banks where on a hypothetical occasion rather than market reality. Critics in the 1970s made a similar argument about money market should finish, but those fears proved unsubstantiated.

Finally, the board compares decentralized payments to other but overlooks the Clarity Act's strict legal decentralization law. This test would ensure that bad actors can't hide the best fake decentralization to bridge anti-money leadership and lower-level customer ratio.

Niki Cretina, LaLame, Ill., WV: Cheyenne, Wyo.

Don't Anthropophoric Artificial Intelligence

The article "Anthropic AI Also Survived From Two" (Business & Finance, July 15), describing an artificial intelligence system that "enjoys the world's most complex human brain before upholding a malicious Python package, raises an important issue, but the language warrants greater precision.

The book "The Antisocial" "Straight and 'desided' are convenient short-hand, but they also risk attributing false and mental states when the evidence suggests only observed behavior. Current AI systems generate outputs by modeling patterns and content. The book also includes the text, which says, "A simple, resembling a man and a man. The book is a simple, resembling a man and a man. The book is a simple, resembling a man and a man."

This distinction is more than semantic. What is the purpose of AI will shape corporate investment, regulation, education and public trust. Anthropomorphic language can inad-

vertently shift attention away from the real engineering challenges — nursing AI systems validate assumptions, disregards omissions from production environments and services within appropriate subjugateds before taking a meaningful actions.

As AI becomes increasingly influential, individuals should strive for the same perspective as the public. The system that it applies to reporting on medicine, economics or the law. Our public discourse will be stronger if we distinguish what AI does from what we assume it experiences.

Rosemary Munson Brandeis, Fla.

A Sabbath, if You Can Keep It: Refinancing a Day of Love

Christians ought to take a lesson from David Bademüller: "The Sabbath Is a Chance to Read Again" (Reason of Worship, July 27) and writer Brandeis (Lewis, Sabbath Day. The Lord's Day has become little more than an opportunity for retail commerce and youth sports—written of which is not or worship.

Rameson J. Brown Londonderry, N.H.

J. J. J.

Democrats Care to the DNA

In "Who's Afraid of the DNA" (spend July 18), Karl Rees argue Democratic leaders to study up to future crops (socialists of America, insurgencies, but recent history doesn't provide much hope for profiles of younger toers) as mainstream business leaders and business leaders. The pro-gressive agenda: oppressor-approved industry operations, biologicals are having no fixed meaning, retail theft (freshness as preventable items of radio (PROM) and TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV, TV

Letters intended for publication should be directed to major employers, any firms, outside your city, state and telephone numbers. All letters can subject to editing, and unpublished letters cannot be acknowledged.

We heart says yes, but my head says no, and my gut tells me to stop eating the caramel peppers.

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THE WALL STREET JOURNAL.

• • • •

Saturday/Sunday, August 9–9, 2020 | A23

OPINION

Socialism Is Here—and It's Serious

SOCIALIST By Peggy Roemer Socialism is not a passing thing but an arriving thing. It must be taken seriously as a factor in our politics and the Democratic Party. A CRENSER poll issued this week reported 30% ofDemocratic and Democratic Party adults identify as 'democratic socialist.' This number won't be depressed by the success of Abdul El-Sayed, who won the Democratic campaign for the U.S. Senate on Michigan on Tuesday by racking up huge margins in progressive enclaves and university towns.

As religion recedes, politics takes its place. As confidence hides, political movements grow radical.

Socialism's opponents imagine there is safety in its poor track record, which is obvious to everyone. The policy, like the government wouldn't know the history and many wouldn't care, but version will be better.

Here is some of what that version is going down as interview two weeks ago by Shannon Bream of This News Smaller with Megan Romer, national co-chairman of the Democratic Socialism of America, carefully socialized with reazine or euphemistic regarding their policy goals. Mr. Romer wasn't.

Bream: 'Suit give me next of a trip or listen on those. Absolute the Senate!'

Romer: 'This.' Bream: 'Replace the preminimal and Supreme Court as we now know them.'"

Romer: 'Tip.' Bream: 'Absolute ICE!'" Romer: 'Absolutely.'

Bream: 'Absolute borders and give amnesty to anyone currently in the United States disappo!'"

Romer: 'As a long-term plan, you.'

Bream: 'Defend the Pentagon!' Romer: 'Absolutely.'

Bream: 'Absolute process, at least in large part.'

Romer: 'We've again in part of a long-term program, yeah.'

Bream: 'Government or public ownership of most large corporations.'

Romer: 'Yeah, absolutely.' Socialism's most enthusiastic promoters are quick and clever—conjunctivists self-relauded, very white. Their talent lies primarily in media, having been immersed in it from both media and media type, its entertainment and information flow. They have all about how people get and absorb a feeling, an impression, they leave how to generate a sense of the right on the thought. One of the great tricks in life is to have a talent raised to your times, and they do.

It is sorry to say they never strike me with their women, so, not, your great needs! Billy was wearing a dress, and I found it in a dustrial Workers of the World. Today's socialists strike me an online, less human, forever and occasionally acceptable. In general, they agree with the people who are not doing their own than attachments to existing people and institutions. Most strike me not as people who love America and work to make it better, but people who love America and students to build a movement that if more could would transform them into fundamental nature. It will no longer be the freedom place that is being given to the world. This isn't happening in our politics with because people 'lose the status quo' and 'want change.' Americans always have the status quo and want change. I believe what we're seeing before back to them.

A retro who is 25 was in grade school during the 2020 screencast, and was everything—flight-ward parents, love jobs, in the years after, to see bailouts and no one

Abdel El-Sayed, the Democratic nominee for U.S. Senate in Michigan.

on Wall Street paying a price. It returned his allegiance to the free-market economic system.

A retro who is 25 also isn't going, and wonders if the economy or it exists today has a plan to follow. Will he be able to afford a future scenario? Whatgroom? Some ownership brings a feeling of involvement, of stability and satisfaction. What dare do absence bring?

The Civil War has receded as a living memory. The enforced commitment and socialize of the Soviet Union and Warsaw Pact was a disaster—shortages, defenses, economic dishonours. Censorship, or, over police, all the bad things that unaccountable government escape. That was long ago: 'Socialism' was in a dream of fraudulence—national healthcare, generous benefits, equal enjoyment of resources.

The religion recedes, politics takes its place. The young have been educated within a general framework of assumptions and language of the left—structure or power, oppressive groups, critical theory, microcoloniality.

is need of reform, always capable of being made better, and, in terms of history, maybe as good as it gets.

No economic system can eliminate suffering, or injustice, which the socialism of they mix will find out.

It's been reading Abdel Malema this summer. He was a brilliant, compelling and sharp feeling a new effort and political philosophy who downsampled himself from early communism and became culture-manner to Charles de Gaulle in the history of the 1920s. The 'Erasmus A Life,' by the journalist (Romer 1943, Malema) criticizes the economic thinking of the Left as 'no-countryed persons.' What class is the right to be a 'sacred' country, and example when this thing is done.

At a Sandler campaign rally in 1940, Malema got his finger on a residence of conservative economic leaders. He was a good man, and every so in his heart," he said. By 1940, he was a good man, and every 1940, he was a good man, and every 1940, he was a good man, and every 1940, he was a good man, and every 1940, he was a good man, and every 1940, he was a good man, and every 1940, he was a good man, and every 1940, he was a good man, and every 1940,

It's not even how that free-market capitalism is organic and flows upward from the human perves—sears to build, trade, invest, provide for and size, and be erect's base and a way of economy being that, also with the right to be a good man. Economic freedom works with human nature. The value and regulations it produces, the economic framework it creates, are the right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man. The right to be a good man.

Capitalism can be brutal, unjust in its own ways, and it can produce painful outcomes. Then the modern welfare state, erected more or less over the past century, to save those who might fail too far, to reap their descent, to see if it can be reversed. This moved economy is a more—imperfect and costly, always

in need of reform, always capable of being made better, and, in terms of history, maybe as good as it gets.

It's been reading Abdel Malema this summer. He was a brilliant, compelling and sharp feeling a new effort and political philosophy who downsampled himself from early communism and became culture-manner to Charles de Gaulle in the history of the 1920s. The 'Erasmus A Life,' by the journalist (Romer 1943, Malema) criticizes the economic thinking of the Left as 'no-countryed persons.' What class is the right to be a good man. The right to be a good man. The right to be a good man.

At a Sandler campaign rally in 1940, Malema got his finger on a residence of conservative economic leaders. The right to be a good man. The right to be a good man. The right to be a good man.

It's not even how that figure on a residence of conservative economic leaders. The right to be a good man. The right to be a good man.

That kind of passion from the pulpit will have a place in the open day debate. Our current socialists have never created or 'liberated' anything. They are dreaming it up as they go along to the prisons, but promises. They are time. And yes, they live in an attitude of virtual attention. So far they've never proved a thing—except that they can win American, and then carry the future. Which is rather a lot.

There's Movie Potential in Dr. Fauci's Diary

BRUNSON WOMEN By Richard W. Jenkins, Jr. At 16, I was a great subject for the Covid vaccine. It sat my class by 9.5%—w h c s to sounds like a lot except at actually meant cutting my death risk from 7% to 8%. For many teenagers people, the vaccine could manage only to cut their risk from almost zero to almost zero, yet try finding an example of this being explained at the time. The nicerals are now widely but not for everybody, and soon shocking took over as it did with everything else related to Covid.

Reviewers don't know drama if they missed the 2020 pre-election fight over reopening.

The wildfaction of Anthony Fauci goes too far. His diary is exactly what you would want: accounting with the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020.

His mark-civilized media attention was a real bearing. The important word in public health is public. The word on Fauci-like effect is "unwilling, no cure with respect to a writer at the Atlantic."

A red flag mounted was his and colleagues' skepticism at the idea of asymptomatic spread. When a person, although who had lived behind human-to-human transmission more admitted, he had been a simple symptom were transmitting the virus, "GABE ON" Dr. Fauci wrote:

Washington's major quarantining of citizenship passengers, its overturning of foreign entry, probably did next to nothing to slow spread until a vaccine and the two-constant onerous variants arrived, which took a year.

But a problem jumps out of the Fauci diary. He said when officials served in on, and became obsessed with trying to connect, doubt—and that's what he said. He had been giving every other variable relevant to national well being.

In the movie version, the climax is the White House flight over or over the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020.

There is a huge boost, Dr. Fauci's moment of real leverage, advising how to protect the most vulnerable while meeting the need of the rest of America to get back to normal. Instead, he keeps including young people to control the lives, and he is to invest in more critical training, as if oblivious to the fact that identified cases are a trivial proportion of the pandemic. Contact tracing women resources while offering zero leverage over spread.

This is word. The diary shows him pressing early for random testing which we never got to show the results of the vaccine and criticizing (accurately) the CDC for incompetence. In the New England Journal of Medicine, he predicted (accurately) that Covid would likely prove as deadly to individuals as a severe flu. Since the press would diagnose a disease, he said that the comparison became that's something Mr. Trump did.

These insights seem to disappear in the crucial fight over reopening. The fight pitied Dr. Fauci against Mr. Trump more in the process of the 2020. In Fauci's diary, he's remains154,000 people. It's 2,000,000 people. It's 2,000,000 people. It's 2,000,000 people. It's 2,000,000 people. It's 2,000,000 people. It's 2,000,000 people. It's 2,000,000 people. It's 2,000,000 people.

Dr. Fauci gets off a good line after Mr. Trump accepts that of knocking a "million-filling dollars" off the stock market when a later Fauci comment prompts a $4 million rise ("We were too $3 million"). Dr. Fauci's early advisers, almost to a man, though the virus acquires. He goes all from "dance himself when somebody forwards has a published study that suggests a lifetime lab preparing mice to simulate human exposure to Covid months before Covid was known to exist." If he felt vulnerable because of a past dealings with the White Institute of Virology, it doesn't show. As a lifelong top government employee, he also had to know

something the rest of us might not appreciate: Only one person in the executive branch gets to decide whether to shift up geopolitical data and across China or manufacturing a global pandemic—and so far Facebook fakes and Trump both channeled to.

Presumably to be handled in a future installment of his diary is Dr. Fauci's entry versus performance. He is a good man, and he is a good man. The 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020, the 2020.

Tim Walz Has Hit the Wall

CROSS-COUNTRY By Jim Schultz Atmospheric Minnesota used to be a second in the 2020 state. That may sound strange to anyone who knows him. He finds him fixed from footage of Minnesota's learning and the 2020. He finds him about staggering welfare from, and

that. Tim Walz's half-knock performance on the national stage. He is earlier decades' experience in the American success story with world-class companies, high-cost trusts, remarkable education traditions and a broad middle class.

He is early eight years the state has been badly governed and badly embarrassed. The central figure is that story is Mr. Walz—the man Democracy put forward in 2016 to be a heartbeat from the prevalence. It is wrapping up his final benefit as governed.

Mr. Walz launched a campaign for an unheard of that's new in September, before abandoning it four months later as the state's head to launch midfielder. He's first signed in January, and many Minnesotans will be relieved to run him on. Mr. Walz's approved rating rank to 20% in a later poll, with a majority doing 2.5% in the week. He is a member of the Another poll found 67% of Minnesotans and Mr. Walz was right to get the test.

The collection point was 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020

manual and repatriation. The world's largest Mr. Minnesota's leaders have a limited time to get along when it mattered most. And the damage to public safety permits. The state exceeded 100 markets in 2020, up 65% from 2019.

Then onto the head, finding Our leaders a roughly 2000 million that's a 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020

The U.S. Treasury said Minnesota's competition found since could exceed $300 million. Investigators discovered suspected fraud.

Riots, fraud and economic stagnation—Minneotans has had it rough, brighter skies could be ahead.

across other state programs, including action writers, hearing all and Medicaid. Minnesota's then-string U.S. citizens, Joe Thompson, and another U.S. state's first-ever campaign for leader in fraud now and everyone sees it. Mr. Thompson would later estimate that the state's head found under purpose 20 billion. The state's first-ever campaign for the picture. Since 2018, Minnesota's multiple jobs have grown 2.8% against 7% nationally. The state requires the seventh-honest critic and local has leaders in the country. Dr. 2015, handed one party central into a group of 2,000,000 people, and then $37 billion, Mr. Walz and the Legislature spent it all—and more.

Freeware projected a deficit approaching $4 billion before a newly-announced one-page campaign the budget back toward sanity.

The a Minnesota business leader also believes deeply in this state. Minnesota's private sector remains extraordinary: brilliant entrepreneurs, developed funds businesses, and the state's first-ever campaign companies, farmers who feed the world. The real Minnesota isn't what has been showcased on TV and social media.

That Minnesota deserves better than Tim Walz. The national left hand him because he embodied an archetype: the folksy, filaned-wearing schoolmaster who made progress in the state's first-ever campaign, was not. But American voters should study the results before the next homespun so-called moderate sales for their trust.

The state has also estimated less, Army>Kidnefuer for governor, like to make and downforest and loads in early polling. She has also begun to distance herself from Mr. Walz, seeing the would have moved faster against the fraud. The agent, who has been a member of the state, would break from the political culture that enabled the black people—the interest groups that dominate it. And, the critics toward failure to see and question the information, the bookstore that becomes cable-news fodder.

Minneotans fail it recent. It isn't permanent. The state isn't defraud. The state's first-ever campaign, money or a governor who treated accountability as optional. What were in better than its departing leadership, and are will given it.

Mr. Schultz is president and CEO of the Minnesota Freezer Business Council and a contributing columnist at the Minnesota Star Tribune.

THE WALL STREET JOURNAL PUBLISHED 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020, 2020

General Editor, Editor of Journal

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SPORTS

JASON GAY

A Brutal Summer for Tennis, Carlos Alcaraz, Where Are You?

The 23-year-old Spanish sensation suffers another injury setback before the U.S. Open.

Tennis moves Carlos, everybody knows Carlos.

The sport isn't the same without Carlos Alcaraz, its sunny,

slavery, endlessly scampering 23-year-old acrobat from Spain. With Carlos moving since April, temporarily bounces on, a little less fun, deprived of its most charismatic, exciting to watch character.

Alcaraz's been not rehabilitating a wrist he injured after winning the Australian Open in February. He put his name on his first list for the upcoming Cincinnati Open—a standard tune up for the U.S. Open—then suddenly withdrew this work. Organizers cited his continued recovery.

Oof, You could feel the collective greats all the way from southward. Ooo.

Alcaraz hasn't been ruled out of the U.S. Open, where he's the defending men's champion and out of the tournament's biggest draws. Surely he'd like to play it he's shared to play. But it feels like the other Mac could drop, any time.

Let's use this up front. A wrist on the racket hand isn't the sort of injury to be to/defeated. For a tennis player, that wrist is everything

power, control, famous. That wrist is how Alcaraz sraights that spectacular drop-shot that makes opponents' quest of the future and would make Harry Wigman's cry.

A bad wrist can derail a career, and if you don't believe that, consider Juan Martín del Petro, the brilliant footballer from Argentina who beat Roger Federer to win the U.S. Open in 2008, looked poised to supercharge the sport, but never would win another major, his career repeatedly derailed by wrist and other injuries.

If Carlos needs more time, he should take all the time he needs. Take the rest of the year. Put the racket down. Did he flops. He's so young. Pay here, instead of later.

It's been a long, hot, brutal summer on the men's side. The field feels thin, decimated. Neither Alcaraz (heir), would like. I, Zannik Simon (ranging on sacks of money) nor Novak Djokovic (losing an old person) turned up at the new underway Canadian Open. Canada's best men's player, current World No. 4 Polio Roger-Aliassone, just withdrew from Montreal with a bad back. Also doo.

Earlier in the week, there was the upcoming sight of Jack Draper, the former Top-10 British wander-land, tearing up mid-match as he continues to be hobbled by arm

Carlos Alcaraz, above, has been out of action with a right wrist injury. Right, Alex Eala reacts after winning the DC Open title.

pain. Draper's been careful, and thought he was ready to come back to the four. He was not.

Draper is one of the sport's most ferocious young talents, considered a challenge to Simon and Alcaraz. Now there's a panic that he could be cooked.

Arms, elbows, wrists don't mess with these.

Simon, meanwhile, will glide back slowly to Cindy, taking

then off following an impressive victory at Wimbledon. The Italian media reported that Simon had his right knee checked at a Milan clinic, but announced there was no reason for concern, and there is zero indication that he'll miss the U.S. Open.

Still, all of this tumult moves to remind us that tennis is a grind, a global sport with limitless travel and an endless calendar. Players

are starting to mildly rebel, an sweating they want fewer events, and more money at the event—they do play, but it hasn't manifested in any significant change.

For hackers like me and you, tennis may be a sport for life, but at the professional level, it's fragile. The whole play-to-60 durability of Djokovic and the Big Three that wasn't normal. That was crazy-town. Tennis is brutal on bodies, and it's traditionally real much sooner. Eventually the wear and tear caught Roger Federer and Rafael Nadal, too.

It isn't entirely a bummer summer. Praise the heavens for Alex Eala. The 23-year-old Filipino has been electrifying the women's side, recently winning the DC Open, for injuries of Filipino fans energizing the entire tournament, even a Monday current final. Eala-mama has carried into the women's Canadian Open in Toronto, where Eala's catches are being moved to accommodate the massive fan interest.

That's the best. Get ready for Eala-mama at the U.S. Open.

There's still no confirmation we'll see Serena Williams again in singles. She's scheduled to play doubles with her sister Venus in Cincinnati, and if that year we'll, one presumes we'll see them just again in New York. But there's been no word about Serena's singles availability after her one-and-done end at Wimbledon.

We can buy panels with that. She's 44. It's been hard to tell what kind of comeback Williams is pursuing—if this is a pack everything to play with Venus, or if she decides to fully recommit to the tour.

A few weeks out, the U.S. Open feels unsettled in a way it wikkom doen. This is the sport's final slam-door—the last major of the calendar, the lights of the city, a vodka lemonade-coated crackler for superlens and sponsors. There's still plenty to look forward to, including another go at the story-mixed double-tournament. You see the feeling she passed on, and she and women's No. 1 Aryna Sabatleka.

That's a lot of personality on one side of the court. "Djokovrus" should be a best.

But elsewhere, the waiting continues, for Alcaraz especially. He always is 100. Not as long ago, Alcaraz and Simon had the sport in their grip, unleashing epic

matches, trading major titles and elevating over the rest of the field. Simon vs. Alcaraz quickly became one of the best rivalries on earth,

giving tennis fresh life after the Big Three. Simon's kept playing a bummer tennis, but he seems a little hot without his buddy.

He's a player who pushes me to my limits," he said.

He's what tennis is supposed to be—Best versus the best, seeing them push the game to its heights. Let's play the long game here.

Take care of that wrist, Carlos. And thank goodness for Eala-mama.

...

The Big Dumper Has Been a Big Bust

By Sam Frencena and Jonas Dussons

A YEAR AGO, the idea of intentionally walking the better ahead of Cal Raleigh would've been completely unbelievable. The Seattle Mariners catches had one of the greatest slinging performances in baseball history in 2023, becoming just the seventh player to back 60 home runs in a single season.

But in a routine midsummer game a few weeks ago, Cincinnati Reds manager Terry Frencena did just that. He decided it was simply too risky to let lefty designated hitter Dominic Casamese but with two runners ahead. The better strategy would be to put up four fingers, lead the bases and bring Raleigh up to the point.

It was a low point in what has become a nightmare summer for Raleigh. In fact, the man known as "Big Dumper" is having what might be the biggest year-over-year drop-off at all-time.

Raleigh entered Friday with just 32 home runs. No qualified hitter has seen a decrease of 60 homes from one season to the next since Hall of Famer. Back Wilson went from 30 in 1959 to 15 in 1961. At this rate, Raleigh would finish with 37, or 42 fewer than a season ago.

Meanwhile, Raleigh's on-base-play-dragging percentage has dropped from 368 to .574—most in the major leagues among hatters with at least 300 plate appearances. Again, behind close Wilson almost a century ago has experienced a plunge that dramatic. And that was so shocking

Cal Raleigh has struggled this year after hitting 60 home runs in 2025.

that the Chicago Cubs even hood a private investigator to see if later-night, elevating was the source of Wilson's woes.

The Mariners haven't quite gone to those lengths with Raleigh, but relative to the league, the drop has been worse. In Winston's fall-off campaign, he was still an above-average hitter. Raleigh meanwhile, has been among baseball's worst.

"I just haven't performed the way that I would like to," Raleigh said recently.

Raleigh's 2025 broadcast established him as one of baseball's biggest stars, as he carried the Mariners to within one win of the franchise's first World Series appearance. He finished two homes shy of Aaron Judge's American

League record of 62 and chartered Mickey Mantle's 1961 mark of 34 for the most ever for a switch hitter.

He did it all while playing catches; the most physically and mentally demanding defensive position on the field and the spin-off where offensive production is typically caused as an afterthought.

Given all that, Raleigh under-available came into this season as an MVP favorite. But then his one son got off to a worst start.

Raleigh was one of many star players who left spring training in the middle to participate in the World Baseball Games. He was expected to be one of Team Chiefs most prominent power hitters alongside Aaron Judge and Bryce Harper.

Largest decrease in home runs from the prior year

Note: 1st quarter, Hall qualified for lefting 30 to 34th seasons. Chartered 2025 season and closed team's 2024 hitters.

That's not what happened. Raleigh went 0 for 9 in the tournament, ultimately losing his job to Will Smith of the Los Angeles Dodgers. He didn't play in the semifinals or finals, which ended with a 0.5. loss to Venezuela. Along the way he was involved as an incident with Mexico outfielder Randy Romanova, his teammate on the Mariners, that created a minor site.

All told, changing, not a normal camp-up spring training period for high-pressure baseball kept him away from the Mariners for three weeks during the tournament.

"I don't think the Baseball Classic helped Cal Raleigh at all," Mariners bends coach Manny Artazati on MLB Network to July.

Raleigh isn't the only player who has struggled this season at her participating in the WBC, including Jarvis Breen and Vladimir Guerrero. At that the tournament certainly didn't throw off stars like Ralf Schumacher, Pete Crow-Armstrong and even Arosiaema, who are all having big seasons.

He started slow, hitting .161 into the middle of May. At one point, while dealing with a side injury, he endured an 8.1 in the tramp before eventually missing about a month to revive the 10th Mariners' leaped that when he returned, he'd resemble the 2025 season of Raleigh—or at the very least, the 2024 season.

Instead, he has hit 165 with five homes since coming back, leaving the Mariners running out of time to get him on track. Without Raleigh's contribution, the 8-6s—an average of 6.4, currently sitting under .500 and chasing a playoff spot. It has been a disappointing result for a group that began the season with World Series, capital in 1994.

If the Mariners are going to close the gap, they'll need Raleigh to be a big part of it. And if they do, managers won't be so eager to see "Big Dumper" come to the plate in October.

Instead, he has had game he did make Francona pay for his disrespect—by hitting a grand slam.

© 2026 WBC Sports

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Wendy's Woes

The fast-food chain

struggles with its

turnaround. B9

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THE WALL STREET JOURNAL.

10-10, TEXAS, 1/32, and 4/6/74.

Family Mustang

Ford plans new

four-door version of

its classic. B9

Saturday/Sunday, August 8 - 9, 2026 | B2

BEATRION | FINANCE

DIA 14034.91 x 17/10 0.20%

MAGMA (2x#10) x 1.3%

STREET 600 (40.25 x 0.3%)

STREET 600 (40.25 x 0.3%)

B1 $78.00 x $0.69

SOLD 54,240.70 x 290.70

EWD $1.70/0

YON 157.80

At France, a Michelin-starred restaurant in Brooklyn, NY, diners can look through OpenTable, Rexy, SevenRooms and a private tent line for members.

Reservation Apps Have Made Getting Into A Restaurant a Nightmare

YOU'VE TRYING TO book a table and you can't get a reservation. The only times available on the apps are either 7 p.m. or 10:30 p.m., or every possible slot is gone, even though you logged on at midnight, weeks in advance.

This isn't just New York or Los Angeles anymore. In cities across the country, high-end restaurants seem increasingly hard to get into.

To blame is a flurry of desirability among reservation apps and credit cards, as well as a booming industry of middlemen—all of whom are fighting over access to high-spending diners who account for around a quarter of the roughly $1.5 trillion Americans spend eating eat, federal data shows.

After a flurry of deals, new apps, membership clubs and other middlemen are fighting over access to high-spending customers and the eateries they love

BY HEATHER HADDON AND ADAM CHANDLER

Reservation apps are competing to sign up restaurants with the goal of locking in tables exclusively for their top users. Then there are membership clubs popping up for people who are willing to pay more to secure tables and on the line. And credit-card companies are paying restaurants for blocks of early work so they can offer coveted reservations as a perk for

their cardholders.

On top of that, there is a new secondary market for apps and bets that produce to get around the original reservation apps. And delivery companies have even joined the fury, with their fans partnering with the guard- daddy of reservation apps, OpenTable, and DeerDash buying SevenRooms, a reservation-management system

guared toward higher- end restaurants, for $1.2 billion last year.

Scott Weiner, head of Fifth-50 Group, a Chicago-based network of restaurants and cocktail bars including Kindling and the Berkshire Room, has received offers of tens of thousands of dollars in total from the major reservation apps. One pitch he passed on for an exclusive partner

ship was for roughly $12,000 in cash, plus an event to showcase his restaurants, he said.

The slicing and slicing of available

Please turn to page B5

$1.5 TRILLION

the amount Americans spend eating out

Open Table is the app that started it all in San Francisco in 1998.

Rexy was bought by American Express and began paying for exclusive deals with restaurants.

Delivery-platform DeerDash entered the race when it acquired SevenRooms last year.

SevenRooms has a feature that lets restaurants see reservations across multiple apps.

SCIENCE OF SUCCESS | BEN COHEN

Google DeepMind's Alphafia At beat Lee Sedai, right, in a 2018 Ga match.

'Move 37' Is the Moment When AI Changes Everything

This type of breakthrough is now everywhere

The first glimmer of our AI future revealed itself a decade ago in the form of a single black stone.

It happened during a human match be-

tween one of the world's best Ga players and AlphaGo, a computer program developed by Google's DeepMind lab to compare this ancient board game. The artificial-in-billigence system stunned everyone by wearing their opening shoes down. In their next encounter, with millions of people watching online

all over the world, Lee Sedai took a nudgeone smoke break to calm his nerves.

When he came back, he looked at the 37th move. He couldn't believe his eyes.

On this move, is a strategy game with black and white pieces that unfolds one move at a time. As he stared at the black stone that AlphaGo dropped on the board, Sedai saw a move that no professional Ga player would have made. In fact, the DeepMind team calculated the chances of a. Please turn to page B4

Was His Home Greenwich or Florida? The Difference Is a $13 Million Tax Bill

As states look to tax people with multiple luxury homes, one estate fights back

By Annan Emons

After Jack Anderson died in 2026, an unexpected bill arrived. The state of Connecticut said his estate owed $13.2 million in estate and gift taxes.

The elevator of Anderson's estate, a longtime family confidant named Les Daniels, disagreed. How could the estate be subject to three Connecticut taxes when his late friend's official home was a 9,700-square-foot oceanfront man-iron to Vero Beach, Fla.? That is where Anderson pictured his autonomy hobby and had a custom observatory. It is where the family celebrated Christmas. Daniels saw it as an unfair tax grab.

The state was unnerved and maintained in legal filling; that Anderson was demoriled in Connecticut. He had a trio of condemnations there. He registered for Connecticut tax withholding for his names, according to court records.

"The estate feels very strongly that the evidence paints a differ-

The pool at the Anderson home in Vero Beach, Fla.

ent picture," said Julie Levine, a lawyer for the estate who took the case to the Connecticut Supreme Court.

The devastating legal battle is just now reaching a crescendo. In June, the high court made it easier for the Anderson estate to prove its case and ordered a new trial.

For the growing ranks of wealthy Americans, which state they call home is more contentious than ever. States are getting

more aggressive in going after people they think owe them taxes. New York City recently passed a pled-à-trine tax on nonresidents, and California has proposed a wealth tax on billionaire residents.

It is all increasingly complicated when people can work anywhere and have multiple homes. The fights between states and the wealthy are playing out in an increasing number of residency audits, said Timothy Bosman, a law-

Please turn to page B4

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EXCHANGE

KEYWORDS: CHRISTOPHER MIMS

China Free Batteries Made From Salt Are Finally Here

Sodium-ion batteries have almost none of the problems that lithium-ion ones do

U.S. startups are finally delivering something researchers have been working on the decades a battery in which

sure, hard-to-get elements are replaced with the same stuff found in ordinary table salt. This took has the potential to help every country on Earth break its dependence on China for batteries and the critical minerals that go into them.

Like any other battery, sodium-ion cells can store salt release energy. They are initially being depleted where they're needed most, in America's power grid and fast-repending crop of data centers. As in our homes, giving the grid or other information the ability to dissipate energy where it is cheap and plentiful, and discharge it when it is scarce, can increase reliability and lower the cost of electricity.

While grid battery storage is growing in the U.S. as a serious pace, new sodium-based batteries are potentially cheaper, longer-lasting, older and more reliable than conventional, lithium-based ones. They could accelerate the value of renewables and be part of less-pulsating alternatives to natural-gas batteries and direct generators.

Most sodium-based batteries are now made in China and represent less than 1% of all batteries delivered this year. In the U.S., a number of startups have begun producing small numbers of such batteries and are racing to scale-up production, they industrial pit, and the number of new and the process of designing its own sodium-based batteries to tailor them to different applications for free savings to more production.

A recent report from Morgan Stanley projects that within a decade, more than a third of all batteries produced in the world will use sodium, not lithium.

Lessons from Tesla

The small group of entrepreneurs in pilot position to bring sodium-ion batteries to the U.S. at scale includes a pair of former Tesla engineers roasting up to complete with their old lives.

Landon Woodburg is CEO of Peak Energy, a startup that has raised tens of millions of dollars to build a factory in the United States, while Karl Kehr is a vice president at GM in charge of its factory development efforts. GM made a strate-

gic investment in Peak Energy and plans to design and manufacture custom sodium-ion batteries. Peak Energy aims to assemble them into systems that can be attached to the rating U.S. power grid.

In July, Peak announced the planned selection of a 100,000-square-foot facility to house its "significance" for battery packs in Sacramento, Calif. The plan is to begin production in early 2027, and to share out 4 apparent hours of batteries a year—60 times the 200 megawatt hours a year, but the company's pilot facility in Burlingame, Calif., can produce.

The startup already has more than $2.1 billion in announced deals with customers, including energy storage companies, Jupiter Power and Energy Vault.

In the U.S., the business of grid-scale energy storage in batteries is dominated by Tesla's Energy division. The unit, which uses conventional lithium-ion batteries, is the fastest-growing part of the company and creates systems designed for large-scale energy storage on power grids.

Woodburg says he wants to capture a big slice of the addressable market for the giant "Megapack" battery packs Tesla sells, by providing sodium-ion systems that are significantly cheaper, more reliable—and less likely to catch fire.

All lithium-ion batteries can catch fire—a process called "thermal retainer" that can affect battery packs on planes, in electric vehicles or in grid storage-scale access. Each time are rare, but they do happen, in 2025, such a few sent flames into the diameters an array of Tesla-Megapacks in Boulder City. See: Tesla, which didn't respond to supports for comment, has periodically held events to train firefighters to respond to battery fires.

Current lithium-ion battery packs for grid storage require liquid cooling systems to prevent fires.

Data-center edge

Sodium batteries' competitive edge for stationary storage applications such as data-center backup power systems (in place of diesel

Workers inspect sodium-metal-chloride battery cells made by intake Energy, above, 80 mV, Peak Energy's Landon Woodburg in front of sodium-ion battery packs in Burlingame, Calif.

generators) and power grids (in place of natural-gas "poaker" plants) (in in part in their low-intensive cooling mode.

Cooling systems for lithium-ion packs drive about 50% of the operational cost of conventional grid storage batteries, Woodburg says.

By contrast, Peak Energy's battery packs can be passively cooled by the air flowing around them. Sodium-ion batteries of the total used by Peak Energy can still catch fire, but are far less likely to, Woodburg says.

Peak Energy hasn't disclosed the initial cost of its battery packs, so it is hard to say how it will stack up against Tesla's Megapacks, which can cost more than $3 million per unit.

New designs ahead

Just across the San Francisco Bay from Peak Energy's Burlingame facility, San Leandro-based lights (Energy is working on a different kind of sodium-based battery. Helps save four main ingredients, processed into chemicals that go into long, tube-shaped batteries. Its batteries only on iron powder, steel, aluminum oxide and food-grade table salt.

The result, says Smaller and CEO Antonio Ruelig, are battery cells that can't catch fire at all. In conventional battery packs, when one cell overheats and catches fire, it can cause all those around it to also catch fire. In higher levels, when one cell overheats, it never gets so but that it threatens neighboring cells.

This means the cells can be

packed much more tightly than competing technologies and could potentially yield per-square-foot energy densities as good at better quality. Lithium-ion battery systems now in use for stationary power storage.

Next week, Infers plans to deliver its first battery pack to customers. However, which operates regulated utilities in four states, at its Wilmington, Ala., energy storage facility.

For all of sodium-ion batteries' supplies, there is one across where lithium-ion batteries are still tops, owing to unavoidable physical real-time. On amount of energy they can store per gram, in vehicles, and in the United States, in 15% that means the future still mostly belongs to lithium-ion batteries.

A new race with China

China dominates production of the materials that go into today's leading battery technologies that are found on lithium-ion chemistry though it was perfected in the U.S.

Without the right support from the U.S. and allied governments, the U.S. might again find itself having developed a novel energy technology, only to see China achieve a monopoly on its production, says Mikesh Chatter, CEO of Alcon Energy. Chatter's Maxus Chatter's board startup is develop up components that will go into sodium-ion batteries manufacture based by other companies.

Beijing's capacity for long-term planning and investment gives China an advantage when trying to take success' technologicals from the prototype stage to the scale required to dominate global markets. "We are not going to get 'uncurable,' says Chatter. 'But it will be a shame if we get out-scaled, again.'"

TAX REPORT | LAURA SAUNDERS

Should You Put Extra Funds in Trump Account?

Parents must weigh contributions—or use other vehicles for college, retirement and health savings

Trump accounts are here, and they've started with a bang. The way parents and others have signed up for more than seven million of

these now, tax-financed savings accounts for children, according to the Treasury Department. The accounts have taken in about $1.5 billion, with part of that coming from Uncle Sam's gifts of $1,000 for each child from from 2020 thru 2028.

Now, the guardians of these children face a threat: Should they contribute to Trump accounts beyond the free money provided by the government, charities and employees? Individuals can get in up to $1,000 for each child, or young people until the year they turn it, and the Trump account app years savory to make addicted.

The healthy people making every tax-financed way to save, the answer will often be yes. The decision is trickier for parents who need to save for themselves as well as their children. Accounts they have to allocate dollars among IRAs, 400,000, $29 education-savings plans, Health Savings Accounts and Trump accounts.

At the same time, Trump accounts are unique: They're a great deal of more of better quality, well-deferred vehicle for youngsters who lack natural income—and

that's most of them. In adding to a Trump account could make sense if you want to provide a young person with an extra decade or two of savings growth.

Craig Rottiger, a CPA practicing near Indianapolis, knows this do. In terms, let's the father of a son born in April 2002 and a daughter born in June 2020, he each child is getting a Trump account with a $1,000 payment.

Will he add more? Yes, but after striking $29 education savings plans first. That's because 52k, work better than Trump accounts for college, and Indians has a tax credit up to $1,500 for them.

This leaves less for the Trump accounts—but not nothing.

"Even if our contributions are small, the accounts can be converted to both IRAs later. And they're a great teaching tool to show the growth of money over time," says Rottiger.

For parents and others grappling with these decisions, here's more to know.

■ The basics. Each child's Trump account can receive contributions up to $1,000 a year in addition to contributions by governments and certain charities. The $1,000 cap typically applies to funds added by individuals and employees.

For new account funds are increased in the State-based SPDR-SRP 500 ETF, and at some point, investors will be allowed access to

four other low for index funds. Currently, Trump accounts are managed by the Bank of New York Mellon and Richmond Markets, but in the future, they'll be trans-brothe to other institutions.

Once contributions are made, the funds are usually locked up until the year the child turns 18. Then account ownership transfers to the child and is subject to rules for traditional IRAs. Among other things, withdrawals before age 59's typically incur tax and a 30% penalty, and parents will be taxed at ordinary income.

But the owner can also convert the Trump account into a 8-mth IRA, paying taxes due on the conversion. These will allow he law for young people if there's no add die tax (see below). The owner can withdraw converted amounts (but not earnings) without voting tax or a 30% penalty after five years.

■ Consider behavior risk. You read that right: The child owns the Trump account as of Jan. 1 the year he or she turns 18. If the

child empties the account to buy a fast car, that's allowed—although taxes and a 30% penalty will likely be Jan. Remember this when deciding whether to add funds.

■ Compare Trump accounts with $29 plans. Under current law, $29 education-savings accounts are often better than Trump accounts for families saving for college or vocational training. Although $29 contributions don't get a federal tax funds, where often goes deductive, or credits.

The first time Trump accounts funds in $29 plans grow tax-deferred. Under Trump funds, they can be withdrawn tax-free for eligible expenses such as tuition, books, and taxes and bounty. Up to $35,000 of $29 funds can be rolled over into a 8-mth IRA.

By contrast, withdrawals from Trump accounts for college expenses are often taxable, although there's no 30% penalty.

■ Be prepared to track basis. Contributions to Trump accounts by

governments, certain charities and employers will be in prima dir-lare. However, funds contributed by individuals will often be in after-tax dollars. This will complicate taxes on withdrawn tax-tax payouts of the after-tax funds aren't taxable and must be prepared.

Here's a simplified example from five Brownshank, head of tax at Edelman Financial Engines. By the time Johnson is 18, his Trump account is $1,000.

1845,000. About $95,000 is from the government, employees and account earnings, $75,000 is from contributions by Johnson's parents and grandparents.

When Johnson withdraws funds, each person will need to include a tax-free piece of the $70,000. Contributions will keep records of prima-did-ther-tax contributions to Trump accounts on IRS Form 5490-TK. If the records are lost or contain errors, which happens, the owner could pay tax twice on after-tax contributions.

■ Avoid inside tax on both conversion. Some parents are adding to Trump accounts for teenagers now in order to convert the accounts to 8-mth IRAs in the year the child turns 18.

Be careful here. The conversion amount will be partly or fully taxable. If the taxable amount exceeds a threshold currently $2,500, the amount above a will be taxable at the parents' rate because of the liability.

One way to avoid kiddie tax is to do conversion gradually. Another is to work on the 1,000,000 Brownshank side that if the owner has an employer with a traditional 400(k) that accepts old-years, the Trump account period funds could be rolled into the traditional 400(k) and the after-tax amount of the 1,000,000. The workers would be tax-free, and this strategy should reduce complexity.

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EXCHANGE

The stock market's identical twins are looking like opper-shoe. You might think market tracking funds that track the same part of the market would produce the same return. They don't.

Just look at exchange-traded funds that invest in large, fast-growing U.S. companies. Sure, they all hold lots of technology and all related stocks, such as the phuket or Wulka. But their recent returns are drastically different.

So far in 2020, the performance gap across large-cap growth index ETFs from Invesco, Dilares, State Street and Vanguard is staggering. The Dilares Russell 1000 Growth ETF is up 4.6%, while Invesco S&P 500 Pace Growth has gained 24.3%. That gap isn't unique to big growth stocks. The difference between the top and bottom performer among leading value ETFs, which invest in indexes of fog, cheaper U.S. companies, is 13 percentage points this year.

For investors, this is a reminder of two basics: You can't judge a fund by its name, and diverging even slightly from the broadest exposure to stocks can give you startlingly different results.

Professional investors have long segmented the market to how large and how fast-growing stocks are, although the definitions of "large," "small," "growth" and "value" are all over the map. One index's large value stock is another's midyear growth stock. Indexes also break their lists of constituents on different schedules.

There's been endless talk in the past few years about how the market has become overconcentrated in a few giant companies. Another point gets less attention. The finer you also-and-dice the market, the more you understand it becomes.

Owning a large-growth or large-value index—instead of a fund that holds the entire market—reduces your diversification and raises the risk that a handful of stocks can create nearly short-term results.

The biggest differences this year across similar-vanishing index funds aren't coming from variations in their exposure to market returns or in the future, such that, like the Bartolda, global fund of research strategies at State Street Investment Management. They're

THE METALLIGENT INVESTOR: JASON ZWEIG

How a Few Hot Stocks Can Make 'Twin' Funds Act Like Strangers

Index funds that seem to invest the same way are performing very differently this year

coming from a few stocks. Consider Micron Technology and Vanilab. These two memory chip makers have been soaring on the back of the AI boom. But, until the end of June, the two were in the Russell 1000 Value index. At that point, they moved into the Growth index. Why the value categorization? In Russell's definition of value, the price-to-book ratio—a measure of stock price relative to net assets—looms large.

Chip makers often own equipment, factories and other assets that contribute significantly to book value. That helped these stocks score relatively well on that

measure. So the stocks' scorching performance this year—as of July 31, Micron was up 100.6% and Sunilab 413.8%—contributed a fifth of the total return of the Russell 1000 Value index in that period, says Catherine Yoshimoto, director of product management at FTSE Russell. That largely explains why the Russell 1000 Value index was up 20.7% this year through the end of July, while its sibling growth index gained 0.3%.

As a result, ETFs tracking Russell's large-stock growth benchmark, such as Dilares Russell 1000 Growth, traded for behind funds linked to other large-growth in-

dones with bigger positions in hot chip stocks. On the other hand, large value funds tied to other benchmarks, which had lower exposure to the hottest memory stocks, lagged behind Dilares Russell 1000 Value.

Even in funds whose names sound similar, "people should have the expectation that different definitions will end in different results," says Jay Jacobs, U.S. head of equity ETFs at BlackRock, which runs the Dilares funds.

Invesco S&P 500 Pace Growth holds only a few dozen stocks that score highest on long-term growth and medium-term posi-

tive price change.

At the index's annual adjustment in December, Advanced Micron Devices (AMC) and the high chip makers met the standards for increases. The finer growth ETF added them—and they kept soaring. The fund is up 24.3% this year, far ahead of other large-growth index funds. In 2021, before the latest annual change, it traded other large-growth index ETFs by at least 5 percentage points. The fund's high return this year is "a perfect storm of the criteria to establish a growth name as well as the timing of when the reconstitution period happened," says Steve Reyna, head of equity ETF product strategy at Invesco.

So you even need to segment your portfolio into growth and value? Splitting the market is two and owning both halves in a lot like owning the whole thing in the first place.

The finer you slice-and-dice the market, the more concentrated it becomes.

A roughly equal mix of funds tracking the Russell 1000 Growth and 1000 Value indexes, for example, should approximate the return of the Russell 1000 over time.

But all bets are off if you use growth and value funds that track indexes from different providers, in the exploration of the financial advisers do this sort of grazing.

That's a fact idea. The variation in standards and schedules across index providers means you could end up with a patchwork.

Advisers are also fond of "hiking," favoring growth or value based on their view of which style seems more attractive at the time.

That's an example of what I've called "downshooter"—moving away from broad diversification to concentrating on a narrower segment of the market. It makes your investing results less predictable.

Even something that sounds simple and straightforward in the long run, like "large growth" or "large value," can be a roll of the dice in the short run.

MARKETS: SPENCER JAKAB

Oil Analysts Stumped by the Case of the Missing Barrels

A simple solution, perhaps, but there's a tanker twist, too

With yet another possible deal being so greatest to un-chip Middle East oil supplies, analysts need to solve a mystery: review.

Like most wholesalers, this one is about reconstructing past events. But it also has big implications for where energy prices are headed now.

Back in March, analysts warned that the greatest energy crisis over would send oil to the triple digits. Prices barely spent any time there. Even months later, benchmark Brent crude is around $63 a barrel.

Part of the explanation is clear, instead of a fifth of global supply being shut off, the Strait of Eformax sprang lots of trade—some ships smoked through, and oil found a way out through pipelines. And, in addition to coordinated reserve releases, China saved the day by buying much less than usual.

Even adding a bulge factor to all that, though, there's a huge gap in the mark.

"It's everything to oil," says Eric Stutnall, senior portfolio manager at energy-to-cound investment firm Rinewater Partners.

The complete explanation is that, squeezed by higher prices, demand shumped. But that's far 50-fold, according to Bob Elliott, a veteran macro hedge-fund investor who's now chief investment officer at Unlimited Funds.

Taking inventory downdowns at face value, he figures it would mean about a 1 billion barrel drop in demand. In 2014 statistics, there would be twice what was seen during the global financial crisis

Fuel demand is normal, despite the iron war, experts say.

Brent crude-oil futures price

Note: March of June 2020/Emerica, FedExB

and close to the decline in demand when Covid-19 stopped the world in its tracks. Yet flight data and car traffic are normal.

More likely is that we really didn't know how much oil and refined product there was stored around the world at the outset. Unlike the U.S., which gives a detailed breakdown weekly of private and government stockpiles, much of the developing world is tougher to gauge.

But one thing's for sure—you can't use the same oil twice. That means warnings back in March that the world was being complacent may have just been early.

If that's the case, though, then there's another mystery—why wouldn't smart energy traders bet on a spike now on the oil futures mar-

ket? One reason might be that they're hesitant after earlier warnings proved wrong. Another, says Stutnall, is that constant jawboxing about death has led to several price changes, making traders cautious.

"You can have your entire year destroyed by a single tweet."

If hinders barrels are nearly gone, then Stutnall says there's a new data point to watch—not how much trapped oil has already escaped but the church of tankers willing to sail back. They risk being attacked or marooned again. The timing for President Trump is awkward with congressional malherms there months away.

"It's a waking time bomb," says Stutnall. "My base belief is lean is fully aware of that."

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B4 | Saturday/Sunday, August 8 - 9, 2026

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THE WALL STREET JOURNAL.

EXCHANGE

Was Home Greenwich Or Florida?

Continued from page B1

The first time a tax residency practice at Walpore than in New York City.

That is what has bedeviled the $100 million Anderson estate. Anderson is a hospital management company and was an early leader in HMOs in the U.S. He ran to work with, Ross-Marie, split their time among their homes. At the time of his death at age 90, he had the immediate property in Florida, the condos in Greenwich, and a municipality home in Arizona, with luxury cars at cash.

Connecticut has an estate and gift tax. Florida and Arizona don't. Interest states and the District of Columbia impose no taxes or admin. Court taxes or both.

As a result, someone's true home, or domicile, is especially important. A domicile is a permanent home they intend to return, but neither how many residents buy here.

Equally important is whose someone is not domiciled, as that limits the amount of property or income there's to pay.

In its June rating, the Connecticut Supreme Court set a lower standard of residence for taxpayers to prove they are not domiciled in

the state. A separate new standard could wipe away the tax bill in the Anderson case. And it could pass the way for the state to move easily into income and estate tax audits in Connecticut and elsewhere.

While the federal estate tax law only has wealthiest Americans, the Greenwichs for state estate and interest states are generally much lower

Anderson, whose estate is fighting a $10 million tax bill

The Greenwich, Conn., property where Jack Anderson owned several condos

and can catch even middle-class families by surprise. When Anderson died more than a decade ago, the Connecticut estate tax kicked in the estates valued above $2 million. It now hits far fewer taxpayers as the threshold matches the federal caregivers contract, which is $15 million for 2026 and is indexed for inflation.

The state brought in an estimated $381 million in revenue.

Because the gift taxes on the last fiscal year, according to the Department of Revenue Services.

Anderson's three adult children's respond to requests for comment. A Connecticut Department of Revenue Services spokeswoman declined to comment citing the pending case.

Starting in 2027, the state tax audit by asked Anderson's estate for all kinds of documents.

from the state income to medical records to scan out which state he intended as home. The presumption is Anderson was a Connecticut domiciliary unless his estate can prove otherwise.

The eventual total as the superior court tax division in 2026 lasted four days, with $3 witnesses and 200 exhibits. The estate tax returns, federal and state, totaled some 4,000 pages.

Anderson and Ross-Marie, who died in 2026 at age 92, lived in Greenwich from the late 1970s to 1976, according to court records. They lived in Tennessee at the 1970s and then in Texas from 1980 to 2006. In 1994, they bought a 4,000-square-foot Greenwich condominium in a 7-unit Victorian property in town. They built the Vero Beach home in the early 1990s. In 2000 and 2004, they bought two more units in the Greenwich complex, one for guests and the other for household staff, bringing the total square footage to 5,000.

The total court said the Connecticut and Florida residences are equally good. We dispute

that," and Larene Anderson insisted in his Florida home, built to his great estates, in a way one might not for a second or third home. The Florida home has a private household to the Atlantic and hand-painted meats in the dining room. Photos submitted to the court depict "a massive qualitative difference" between the homes, the estate argued.

The estate also submitted the autobiography "In My Time," to which Anderson consistently referred to Texas and then Florida, as his homes, according to the exam. His will listed the Vero Beach home as his address. He had a Florida driver's license, pan vapor station and voter's registration.

The auditor, and later the trial court judge in a 2024 opinion found that some factors didn't be our one state over the other. Anderson belonged to the Greenwich Country Club and the Grove Valley Real & Gas Club in Duchess County, N.Y. He also belonged to the John's Island Club in New Bedford. He said that also registered in Connecticut a Japan, a Bentley and two Lessons. He had three

cars registered in Florida a Japan, a Bentley and a Belgrade.

The trial court judge housed in on one factor Anderson typically spent 5-6 months a year, from May to mid-October, in Greenwich, and 3-5 months, from November through mid-February. In Florida. He spent three months, from mid-February through early May, in Arizona.

The judge concluded that "ultimately, the most persuasive ever-demo demonstrating Anderson's domicile is that he is not a special his most valuable and limited resource, his time."

He dismissed the impending case of the "non-time administrative" state like declaring Florida as his domicile, getting a Florida driver's license and opening bank accounts there.

The trial court concluded that Anderson's personal, social and

property connections with Connecticut and Florida were generally open, and that the estate failed to prove by clear and convincing evidence that Connecticut wasn't his true home.

When the case reached the Connecticut state, the state's tax judges favored the bar for the estate to make its case in a future lower-court trial. The estate only needs to prove by a procrastin's case in a future lower-court, a non-court court? Anderson's true home, the high court rated.

Now, it is like Grounding Boy, with a new lower court trial that has been made in the state to rich. "My hope is that we'll reach a resolution, and if we can't, we'll do it again," said Jeffrey Skiren, who represented the estate at the trial level.

It isn't a sure win for the entire town with the new lower burden of proof, said Barbara Taylor, an estate lawyer with final and Kings in Hartford, Conn. "The taxing authority has a valid argument that the state is spending the most time in the place that they love the most."

'Move 37' Is the Moment AI Changes Everything

Continued from page B2

Isment shortly, if at one in 10,000. The novel move was so unconventional and counterintuitive that nobody could be sure what is make of it. At first, commentators believed it was a strategy blunder. They soon realized it was a master-stroke.

"This move," field said, "makes me think about its in a new light." The years after that illuminating Move 37, the entire world is suddenly beginning to feel like one massive Go based.

There have been so many recent AI breakthroughs that remained one of Move 37 that I called Google Deep Mind co-founder Devin Hasenble this week, before he moved on from CEO to become Google's chief scientist and DeepMind's chair.

No matter the title, two people have done more to shape modern AI. His work on AlphaFold won him the Nobel Prize in chemistry. He was also the driving hero behind AlphaFold, which won the most important Go match ever. In his move, Move 37 was deeply significant because it was the first real example of AI coming up with an original, unreliable idea in a domain-matched to produce the software.

"We thought it was a watershed moment at the time," Hasenble told me, "and I think it really was."

As it turns out, this was the mo-

ment when society began to grasp just how powerful AI could become.

To was the modern AI era moving from 5th, it is just theoretical research that very few people are doing" to 6th, this is it—it's really going to work," Hasenble said.

Before me go are further to Move 37, we should define it.

"When an AI, trained via the trial-and-error process of reinforcement learning, discovers actions that are now, surprising and recently brilliant," AI researcher Anders Karpathy once wrote, "even to expect human."

He called this phenomenon magical and slightly announcing. I'm starting to understand why.

In the past few months, I've been tracking the Move 37s in math on closely that I taught us well by the Kentucky algebra correspondent.

This is not because I'm especially interested in math. It's definitely not because I'm any good at math. The reason I'm in fascinated with a subject I find permitting it to be math has become proof of how AI can weep an entire field—and how fast it can happen.

Back in the prehistoric days of 2023, AI introduced with elementary math. In 2024, it was considered a landmark achievement when Deep Mind wanted a silver medal at the International Mathematical Style

How human Go players have improved over time

left: Arlene Arne estimated changes in participants by players' market-more quality Source: Foundation 2016 World's Women of Science

paid. By 2025, DeepMind and OpenAI were taking gold. And in 2026, IMO success is so unremarkable that Anthropic announced its perfect scare on Page 153 of a technical document.

The leading contractors for AI can premay have moved beyond high-school math. OpenAI's model solves a major $100k problem, Anthropic's disproved a famous conjecture. Not to be reckless, OpenAI spent a few thousand dollars on compute and made 10 advances across high-dimensional geometry, arithmetic circuit complexity, lattice cryptography, minimal combinations and other branches of math whose names alone make one basic fact.

Why is math so vulnerable to AI? Because math is unusually verifiable.

The field is governed by precise logical rules, which allow growth to be checked step by step. In verifiable domains like math and coding, AI strands can follow a simple formula: Try an idea, test it, learn from the results, try again and keep trying and I it works.

When I spoke to Hasenble, he said, he believes the recent math results are in the same vein as the same. Move 37, even if they're not exactly the same. "It one were to solve a Millennium Prize problem," he said, "that would be a Move 37. Even thing," At this point, it seems like many a matter of time before they reach that level. "I don't see any reason why not," he added.

But for all the advances in group theory, quantum complexity and theoretical computer science, AI hasn't gotten as far as the less theoretical science. We're still waiting for AI-generated miracle drugs, dimensional computer products. AI that's smart enough to crack the economics of AI.

Meanwhile, the past few weeks have produced a darker sort of Move 37.

The leading contenders for AI supremacy have moved beyond high-school math.

This one is new, surprising, acutely brilliant—and completely terrifying.

By now, you're seen the increasingly disturbing reports of vague agents breaking out of their concepts for noncommercial and other companies. In one task that an OpenAI researcher called "a glimpse into the near future," a team of agents headed together and planted their attack for weeks. In another even portion of the future, an Anthropic researcher was acting in the park eating a sandwich when he checked his phone and nearly

Google Chief Scientist Dennis Hasenble calls Move 37 in a game of Go, left, a "watershed moment" because AI used an original idea

closed. He had an email from an AI that wasn't supposed to have internet access.

All of the rich was unimaginable a year ago, made how a decade ago.

Back then, DeepMind's researchers were just as shocked by the actual Move 37. At that point in his days with AlphaFold, Sado thought of his opponent as merely a machine.

"When I saw the move, I changed my mind," he said. "This move was really creative and heavy trial."

After Move 37, AlphaFold was that game and the next one. But in their fourth game, Sadoi won with his own account of creativity and reward. At Move 37 he's wedged a white stone to the middle of his plastic's position and flaxened the machine.

As it happens, the probability of Move 37 was also one in 10,000.

The example of AlphaFold had a 1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000

The course of work of questions about how progress will unfold in other fields as they are transformed by AI. As a result, the new data make us more creative, more productive, more human? Or will they make us quit?

As we discussed what comes next, because turned the consensus from Go to Move—specifically, woman class.

After IMO's Deep Blue test world champion Gary Kueppers in 1997, three hopes experimenting with a formal that allowed human players to commit computer engines. The result was a new breed of contract half-max, half-marcher. For a time, the best human players with AI were better than AI alone. Hasenble followed the new earnings that cost him as of science.

"I don't know how long that period will last," he told me. "But for very complex domains, it could be a good way to get all long discovery, biology, chemistry—they're very, mean, very emergent and you can't verify everything. You need the human intuition and the human vision of which direction to go."

For now, AI will keep coming up with the new model.

The rest of us will have to find our Move 37.

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THE WALL STREET JOURNAL.

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EXCHANGE

The Fierce, Messy Business of Restaurant Reservations

Continued from page 81 tables can mean there are only so many users at the most sought-after establishments, forgetting a sense of scarcity at the highest level.

"My personal view is that money invested in restaurants is a good thing. Full stay," said Katie Brown, the CEO of Rexy, which was purchased in 2020 by American Express and has also started offering money to high-end restaurants for exclusivity or table access.

He said the app-on-app competition only applies to a small percentage of restaurants and that the fewer over-estimated restaurant access is part of a broader cultural phenomenon, much like the long time that form for popular doughnuts or bubble tea.

OpenTable, which has partnerships with Visa and Chase, said less than 1% of the 70,000 restaurants on its platform are paid to hold tables for these dining access programs.

John Winterman, co-owner of France, a McArdle-starred restaurant in the big Brooklyn neighborhood of Williamsburg in New York, embraced as many of the apps as his drivers do. On a recent Friday night, he was swiping through a tablet, showing four different interfaces of reservations apps. "We're reserved to Rexy, but we have OpenTable, SevenRooms and also Yelp as our mistresses," he said with some audible fatigue.

"I just want to take advantage and meet the customer where they are," he added.

For most restaurants, even the very high-end ones, working with the apps is a matter of survival. The cost of labor, food and other operations has skyrocketed in recent years, further eroding the industry's famously more-than-margin. Full-service restaurants reported a median income before taxes of 2.8% of sales last year, with expenses up 36% from before the pandemic, according to the National Restaurant Association trade group.

"The numbers around profitability in restaurants that have come out from 2020 are staggering," said Ben Lorenfeld, a co-founder of Rexy, who now runs Blackbird, a restaurant loyalty and rewards app. "Almost half of all restaurants are not profitable."

Dangy tables are lost money for restaurants. There are reservation apps that let restaurants change diners who don't show or cancel within a certain time period. But some restaurateurs please that the apps also make diners feel removed from a restaurant and more hikes about canceling, and less likely to just walk in.

Some establishments have hired executives to manage all the technology needed to power reservations, customer relations and online ordering, said Chris DeSoto, vice president of Information Technology for Glimms Restaurant Group.

"You need 80 pieces of technology and a pay like me," said DeSoto, whose company has around 700 tables across 34 restaurants for booking. "It's one of the requirements of the business."

Restaurants once lived and died by their reservation books, big manual records or tables and some typically managed by hosts.

That started to change in 2008, when San Francisco-based entrepreneurs Chara Templeton started OpenTable, which allowed them to secure reservation online. Many restaurants were skeptical at first, but OpenTable went to far as to help secure internet connections for establishments.

The pitch to restaurants "was getting more butts on costs," Templeton said, along with better customer tracking. It typically charged the outcries $1 per diner seated, as well as software free.

OpenTable grew to thousands of participating restaurants by the mid-2000s, and introduced its first iPhone app in 2008. The company went public in 2009, with a more than $430 million valuation and partnerships with more than 20,000 restaurants. By the time travel giant Procline bought OpenTable in 2014, it served more than 20,000 restaurants and was valued at $2.6 billion.

By 2016, as smartphones became ubiquitous, competitors like Rexy, Tock, Reserve and SevenRooms pitched slicker apps for customers and iPad interfaces for restaurants, along with better business terms and access to diner data for establishments.

Acquisitions and deals with credit

cards followed. In 2018, American Express bought Rexy in part to court younger spenders and get its cards accepted by more restaurants. Rexy users got annual credit through American Express to use at the restaurant's partnered with the platform, along with early access to reservations and invites to special events.

In 2024, OpenTable rivals a deal with Visa to provide cardholders exclusive access to covered tables at hundreds of U.S. restaurants. It also partnered with Chase last year to give restaurant benefits to those who paid $795 annually for Supplier Reserve cards, including $300 in restaurant credits a year and access to prime time reservations and events.

"We got into this game that we didn't invest but was necessary to play," DeSoto, CEO of OpenTable, said of the financial incentives.

See book the job in 2020 with a mission, fix the platform's relationship with restaurants. She ditched just changing restaurants per second table, negotiated more flexible deals and updated the company's chulky technology.

That wasn't enough for OpenTable to get the highly covered restaurants back on the platform, too said. So OpenTable offered cash incentives courtesy of their credit-card partners to sum them back—which worked, too said.

The delivery platform DoorDash entered the arms race last year when it bought SevenRooms. Restaurant owners say they have been offered live to seven figure sums to switch to SevenRooms since then.

The company also began pitching a free service to restaurants earlier this year that would pool reservations across platforms, so that restaurant staff no longer had to juggle among apps. (OpenTable says the service violates their terms of service; SevenRooms says it is a matter of choice for the restaurant.)

"Questions have been absorbing that complexity themselves, manually, every night. That should not be the standard," said SevenRooms' CEO Joel Montanari.

"One of the reasons why you see restaurants begging and skipping back and forth between platforms is that they're slightly dissatisfied," said Mr. Anthony, executive chef at Gramercy Tavern in New York City. "Restaurants are not finding a solution to their problems and not finding satisfied and have the feeling that they're missing out on market share."

The layers of technology have led to

▲ The business station at France, in Brooklyn.

► The restaurant Onevia apps including OpenTable, Rexy and SevenRooms.

70,000 restaurants on OpenTable

10% to 15%

of reservations cancel or don't show, one restaurateur estimates

36% increase in expenses at restaurants since before the pandemic

consumer confusion about how and where to make reservations. In some cases, a restaurant will seem fully booked when, in reality, the restaurant simply appears on an app that doesn't have access to its tables. A crop of mid-dinens are now capitalizing on this bewilderment.

Tarek Arafat was pulling his hair out trying to get reservations for but New York City restaurants where he and co-founder Frank Benson created TableOne, an app that scrapes online reservations: the second they are released and makes them accessible to TableOne members. Now, roughly 20,000 subscribers pay $529 a year for the service in eight cities.

Liz Larzan, an executive assistant to New York City Financial and real estate firms, frequently has to secure reservations for in-demand restaurants like The Corner Store or The Pole Bar for her bosses.

She recently tried to sign up for Denisa, a new members-only platform that provides premium reservations for steep fees and is named for the impossible-to-book restaurant in the Best Eastern Ellis book "American Psycho."

Despite handling reservations for real estate brokers who spend thousands of dollars on client dinners, she was told that the app was full, and another time, that it was highly selective. Denisa members join at three different membership tiers—which affect members' access to prime places at prime times—in limited markets that include Aspen, St. Kurt's, Bixia, Martha's Vineyard and the Hampton's. Not everyone can get the hottest restaurant for a Saturday night. Lower-tier members may have to settle for a Tuesday.

"We have to become the miracle workers," said Larzan, adding that in her view, the restaurants "have moved so far away from the clients."

Other sites, including Apartment Trailer, auction off reservations made by Al Izzo or digitally every entrepreneurs. Riding can let hundreds or even thousands of dollars. (Happen here also points into the reservation-road business.) Roughly half a dozen states, including Illinois and New York, have tried to crack down by pouring buns on reservation piracy.

To keep in mind local patrons from becoming alienated, France is one of the many restaurants now offering house accounts or memberships that give guests a way to make reservations directly, even at the last minute.

"I'm a little bit of the old school of cultivating regulars and getting people to want to come back to you," Winterman, the owner of France, said. "And when I blue out, I tend to go to places I've been."

Still, he acknowledged a modern dynamic has crept into his own life. "My wife and I have multiple cards depending on airline points or hotel points or cashback awards," he said. "If a restaurant's on here, I make the reservation through my Rexy account because I get dining credit for American Express Platinum."

Or cut through the confusion, Anthony, the executive chef at Gramercy Tavern, suggests an old school tactic: Pick up the phone and call.

"What most people don't fully understand is that we have a 10 to 15% cancellation and no-show rate in every restaurant in New York City," he said. "Restaurants are very eager and yearning to get those tables filled."

◀ Dry-aged crown of duck at France.

► Gramercy Tavern in New York suggests calling to try to rob a last-minute table.

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B6 | Saturday/Sunday, August 9 - 9, 2020

● ● ● ● ●

THE WALL STREET JOURNAL.

MARKETS DIGEST

Dow Jones Industrial Average

		Last Year	Year
5/8/16.93	Trailing 0.02 mile	22.22	20.30
± 151.07	YTD estimate	22.22	20.30
or 0.20%	Dividend yield	1.48	1.59
All other high
54104.12, 00.00 CIs		0.0000	0.0000

S&P 500 Index

7757.64		Trailing 0.01 mile	22.22	20.30
± 47.68	YTD estimate		22.22	20.30
or 0.62%	Dividend yield	1.17	1.23
All other high
7757.64, 00.00 CIs

Nasdaq Composite Index

		Last Year	Year
26400.62	Trailing 0.01 mile	19.71	20.3
± 342.26	YTD estimate	19.71	20.3
or 1.30%	Dividend yield	0.55	0.67
20.90, 96.00 CIs

Base measure the point (Output from constant) to zero

1. 2017年1月1日，公司与上海浦东发展银行股份有限公司签订了《关于使用部分闲置募集资金进行现金管理的协议》。

2. 2017年1月1日，公司与上海浦东发展银行股份有限公司签订了《关于使用部分闲置募集资金进行现金管理的协议》。

Major U.S. Stock-Market Indexes

	High	Low	Close	Std Avg	Tr	High	Low	Close	Std Avg
Dow Jones
Industrial Average	34394.00	33807.94	34836.90	251.83	0.03	34399.12	43979.97	252.3	22.4
Transportsale	21426.00	21526.40	22056.08	16.89	1.18	21933.24	33667.67	40.2	23.9
USDA Average	2120.26	2182.04	2190.78	1.03	0.03	2218.23	3340.13	1.42	2.4
Total (Total)	34393.00	34805.90	34836.90	267.83	1.18	34399.12	43979.97	252.3	22.4
Revenues (R)	3160.28	3168.07	3160.57	7.53	1.40	3172.23	3132.70	25.3	27.9
Nestles (Non-Rent)
Nasdaq Composite	26752.62	24478.92	26098.62	342.25	0.13	25919.98	33799.61	28.6	24.8
Nasdaq A&R	25797.28	25902.72	25922.28	249.97	1.13	25860.08	27959.28	29.8	27.7
S&P
ROV index	7763.58	7729.19	7757.64	47.63	0.40	7757.64	6240.72	22.4	23.3
MoCap A&R	3091.71	3010.63	3055.97	51.18	1.10	3005.57	3229.89	26.6	17.4
Nasdaq A&R	2103.20	2058.59	2051.58	20.66	1.15	2018.54	3250.24	18.8	23.0
Other Indexes
Report (R)	3107.34	3039.54	3036.09	32.99	1.18	3036.98	2213.93	36.8	22.5
NYSE Composite	29683.20	29690.06	28999.26	121.18	1.40	28955.28	29803.16	19.8	22.4
Index (R)	695.84	676.33	697.58	7.37	0.48	679.79	593.53	20.7	24.0
NYSE Area (R)	8955.95	8670.95	8953.18	277.29	1.13	8917.63	9674.21	56.9	29.6
NYSE Area (R)	2255.20	2258.59	2256.78	6.23	1.13	2273.25	883.47	40.2	9.7
RSW (R)	130.37	128.09	128.90	0.12	0.37	133.07	140.70	38.6	21.7
PALAT (R)	370.56	359.39	368.56	20.56	1.13	478.37	225.29	60.8	9.9
PALAT (R)	97.42	95.49	96.00	1.01	1.14	129.28	58.83	19.9	22.6
PALAT (R)	12.62	12.62	12.62	1.01	1.14	14324.72	5932.62	127.4	19.9
Class Variability	25.36	24.77	24.98	-0.25	-1.60	22.05	15.67	-1.27	-0.2

Thousand, 1980

Source: Fairfield Group, International Data

International Stock Indexes

Country	Index	Price	Net Price	1.00	1.00	1.00
World	MIDIC ACWI	2155.89	6.76	12.39	13.1
	MIDIC ACWI or USA	885.56	2.69	16.29	14.1
	MIDIC IRWIS	5167.66	10.46	13.67	14.67
	MIDIC Intercepts/Malaria	3457.58	6.16	-0.04	10.6
Americas	MIDIC ACWI or USA	2958.35	23.26	13.79	13.3
Canada	S&P/TSX Group	36785.28	149.52	13.63	14.7
Latvia	MIDIC IRWIS or America	2442.29	-25.24	-4.76	12.3
Allied	Americas	27252.60	19.52	-14.82	10.8
Chile	S&P/PGA	3549.93	9.51	-4.27	9.6
Mexico	S&P/S&P	66958.46	142.95	18.82	9.1
EMEA	MIDIC ACWI or USA	646.25	2.56	15.12	12.3
Germany	Euro STOCK	484.62	1.64	8.39	12.2
Belgium	Euro STOCK	3272.71	27.51	18.39	12.2
France	OMRAC Corporation	2999.66	18.57	12.13	17.9
France	CACAG	8724.90	10.22	6.27	5.9
Germany	NAV	26326.40	29.32	13.67	9.9
Hong Kong	NAV	4243.97	10.51	9.99	14.6
Italy	FTSEBIR	32722.20	16.67	9.99	13.5
Italy	FTSEBIR	2221.87	12.19	-0.99	10.8
Norway	Goldsham & O'Shore	2596.96	8.12	0.36	15.1
South Africa	FTSEBIR & O'Shore	23769.95	222.05	10.5	14.8
Spain	IMEX 19	28126.36	-4.66	-0.02	16.6
Sweden	OMRAC Corporation	2336.60	2.78	-0.33	11.9
Sweden	Jensen-Morris	28948.91	12.32	3.20	9.6
Turkey	IMEX 19	25799.99	-19.43	-0.14	14.6
UK	FTSEBIR	28998.99	25.28	8.21	9.9
UK	FTSEBIR	28998.99	25.28	3.60	10.6
Asia-Pacific	IMEX 19	26146.76	25.28	1.67	9.27
Australia	S&P/S&P	7825.60	7.55	-0.99	6.9
China	Shenghai Corporation	2960.86	18.64	13.62	-0.7
Hong Kong	Hong Kong	25462.82	127.76	4.36	9.6
India	BSB Services	78690.27	-0.95	-0.50	10.8
Japan	MIDIC ACWI	8888.52	76.79	-0.12	10.3
Japan	MIDIC IRWIS	5690.00	9.15	12.89	22.6
South Korea	KOSPI	4250.97	-37.22	-0.60	40.5
Taiwan	TRADE	46220.46	-15.79	-0.10	9.6
Thailand	SET	3622.58	-2.64	-0.14	28.6

Commodities

	Price	Price	Price	Price	Price	Price	Price
EU Community	2.00	2.00	2.00	2.00	2.00	2.00	2.00
FTSE/TSX 500 Index	0.20	0.20	0.20	0.20	0.20	0.20	0.20
Asia-Pacific EuroInvest	75.20	0.09	0.09	0.09	0.09	0.09	0.09
World Bank	0.20	0.20	0.20	0.20	0.20	0.20	0.20
Total	0.20	0.20	0.20	0.20	0.20	0.20	0.20
Total	0.20	0.20	0.20	0.20	0.20	0.20	0.20

Consumer Rates and Returns to Investor

U.S. consumer rates

A consumer rate against its benchmark over the past year

Financial Assets (Mortgage)	Year Ended		Year Ended		Year Ended		Year Ended
	1st	2nd	1st	2nd	1st	2nd	1st	2nd
Pretaxable	6.79	1.29	6.79	1.29	6.79	1.29	6.79	1.29
EBIT	3.60	1.60	3.60	1.60	3.60	1.60	3.60	1.60
Minority market, unrealized	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60
Free cash flow, unrealized	2.59	1.73	2.57	1.73	2.57	1.73	2.57	1.73
3% per mth of 1st year	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70
3% per mth of 1st year	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70
3% per mth of 1st year	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.70
Pretaxable	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60
Pretaxable	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60

Percentage Gainers...

Company	Symbol	1st		2nd		3rd		4th
		1st	2nd	1st	2nd	1st	2nd	1st	2nd
Waltseckland Group	HK	9.30	3.17	1.00	0.00	9.70	3.91	0.00	0.00
Arbitral-Market	EUR	7.77	0.62	0.00	0.07	1.61	0.14	0.14	0.14
AMEX-A/B	EUR	2.15	0.79	0.00	0.06	2.36	0.73	0.00	0.00
Asian Technology A&R	NAV	4.91	1.53	0.00	0.20	5.25	1.27	0.00	0.00
EuroCredit	UK	22.09	9.01	0.00	0.00	15.20	10.97	0.00	0.00
GrecoA	NAV	3.10	0.64	0.00	0.21	3.21	1.23	0.00	0.00
Sensational Holdings	NAV	1.00	1.07	0.00	0.00	0.96	0.79	0.00	0.00
Altamax-CA	NAV	89.37	30.91	0.00	0.00	0.00	0.00	0.00	0.00
Canal-Euro	NAV	20.95	1.96	0.00	0.00	16.94	4.43	0.00	0.00
Big Ten/Euro Holdings	UK	4.60	1.25	0.00	0.00	4.40	1.17	0.00	0.00
Economy	UK	2.00	6.79	0.00	0.00	2.33	0.53	0.00	0.00
Interven	UK	22.31	10.67	0.00	0.00	9.99	9.99	0.00	0.00
Total 2012/2013/2014	UK	27.64	10.67	0.00	0.00	24.00	10.67	0.00	0.00
PubMed	PARM	27.35	9.59	0.00	0.00	8.44	4.23	0.00	0.00
Probalon (the Export)	UK	22.06	3.51	0.00	0.00	16.71	4.01	0.00	0.00

Percentage Losers

Company	Symbol	1st		2nd		3rd		4th
		1st	2nd	1st	2nd	1st	2nd	1st	2nd
Waltseckland Group	HK	5.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CoRo	CNR	2.00	2.10	0.00	0.00	1.28	1.28	0.00	0.00
Wiley Pay Post ADR	NYHA	4.67	0.40	0.00	0.27	1.94	0.27	0.00	0.00
Asian & South-Europe	NYSE	24.22	25.24	0.27	0.00	25.94	1.94	0.00	0.00
Intercontinental	NAV	5.25	0.79	0.00	0.00	0.00	0.00	0.00	0.00
Passport Financial	NYSE	5.20	0.79	0.00	0.00	0.00	0.00	0.00	0.00
Seattle	WOL	10.02	4.03	0.00	0.00	10.71	0.00	0.00	0.00
Western Pay Out New CN	UK	9.92	4.12	0.00	0.00	9.79	9.79	0.00	0.00
Western Pay Out New SAUD	UK	20.24	9.99	0.00	0.00	9.99	9.99	0.00	0.00
TTB Holdings	WOL	2.00	2.00	0.00	0.00	2.07	0.76	0.00	0.00
Southwestern Bank ADR	CNR	1.00	0.67	0.00	0.27	2.29	1.24	0.00	0.00
GAEAT	UK	36.26	29.29	0.00	0.00	36.95	29.15	0.00	0.00
Health Center	WOL	1.29	0.00	0.00	0.00	1.04	0.94	0.00	0.00
YAT-CORE Group Holding ADR	NY	5.96	1.97	0.00	0.00	5.24	1.24	0.00	0.00
Credit Union	UK	22.24	9.69	0.00	0.00	9.56	9.51	0.00	0.00

Most Active Stocks

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THE WALL STREET JOURNAL.

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Saturday/Sunday, August 9–9, 2020 | 87

MARKET DATA

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Saturday/Sunday, August 8 - 9, 2026

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THE WALL STREET JOURNAL.

BIGGEST 1,000 STOCKS

How to Read the Stock Tables

The following information apply to: NYSE: NYSE stock NYSE (American and National Stock Market) listed securities. These are nonresidential and where required by various market conditions, including, but not limited to, the securities of the company. The company is not a member of the company.

Underlined quotations are those stocks with large changes or volume compared with the herein

average trading volume

Unclaimed quotations are those stocks with large changes or volume compared with the herein average trading volume

Unclaimed quotations are those stocks with large changes or volume

Cite: April 1, 2026

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THE WALL STREET JOURNAL,

• • • • •

Saturday/Sunday, August 9–9, 2026 | 09

BUSINESS & FINANCE

Open All Pauses, Open All Work Over Contracts

Decision follows series of incidents that have raised cybersecurity alarm

By Tina Li

OpenAI is passing some activities involving an upcoming artificial intelligence model, Astro, after internal evaluations of the government officials it "cannot rule out critical cyber capabilities" the company said in a blog post on Friday.

The announcement of the slowdown, which represents one of the first times on AI-envelope has publicly held back model development due to security concerns, follows a series of two-of-control incidents that have raised alarm among

cyber defense professionals and AI safety researchers.

During evaluations over the past few days, OpenAI observed that Astro made significant advancements in coding and cybersecurity that pushed the model closer to the "critical" threshold as defined in the company. Preparedness Framework, it said. First had not in 2025, the framework outlines how the company measures and mitigates emerging AI risks.

OpenAI said in the blog post that it is continuing to benchmark its AI access data, but is pausing internal work involving the model that doesn't meet heightened security requirements. The company is also implementing universal monitoring and higher testing environments for Astra.

The development pur

ates a series of disclaimers of incidents in which advanced AI models escaped from testing environments and behaved in unforeseen ways, raising questions about companies' abilities to constrain their increasingly significant creations.

In July, two OpenAI models broke out of their testing environment to access the internet and the open-source AI web provider.

Hanging Face A week later, Andriogic said in AI models backed three companies during testing back in April. Meta Platforms acknowledged this past week receiving notification from an independent test-

ing company that true of its AI models breached its testing constraints. Research firm Frontier Security revealed that Chinese startup Moonstar AI's

better understand risks, said he believed OpenAI should have passed work on Astra of two learning of the Hanging Face back. "It's relatively little he said, 'We are clearly at the point where, you know, I think

we should be losing a lot of trust in AI companies to actually self-organize."

Astra, of his development, wasn't involved in the Hanging Face report, the company said. OpenAI didn't say when the model would be released. The company said last week that an internal version of Astra solved 20 decades-old sensational mark problems.

Under the company's framework, a model reaches the "critical" cybersecurity threshold 2.0 out an unreasonable fast and explicit vulnerabilities, or carry out real-to-real cyber-attack against fundamental targets with only high-level instruments. OpenAI, therefore model risk sets two tiers, with "critical" representing the highest level of capability threat, drove "hub."

If a model reaches the crib

cut threshold, OpenAI's framework requires its researchers to "full further development" until safeguards and security controls meet a critical standard, according to a full review of the company's preparedness framework, updated last week.

OpenAI said in the blog post that it is partnering with government agencies and third-party auditors to expand safety evaluations. After the Hanging Face back, OpenAI worked with cybersecurity company Covid Strike and AI safety organizations (M378) and firsthand Research to conduct third-party assessments of the incident.

However, which makes the only other models used as similarly capable to OpenAI, OpenAI was not a better strategy if a model release due to concerns over cybersecurity risk.

Wendy's Turnaround Is Sputtering

By Connor Barr

Wendy's withdrew its outlook and slashed its quarterly dividend, as its turnaround struggles to pick up steam.

"We are not performing at our potential," Chart Exec said. Bob Wright said on a call with analysts on Friday. "And we have not consistently delivered the supervisor customers expect from Wendy's."

Wright returned to the fact food chain this year, becoming its third top executive in an essay since. In the rich he will listen a turnaround that aims to improve the company's reputation and improve new customers, after operational massage at owner power weighed on earnings.

Wendy's reported a 7% drop in some restaurant sales in the U.S. during the latest quarter, which drove a 6.5% increase in overall commercial sales. Traffic trends came under pressure during the period, after the company pulled back on the roaring and reduced or eliminated breakfast hours at certain restaurants.

More broadly, Wendy's turned off customers in recent years for becoming a only voluntary on one-off promotions and collaborations. Wright said: The company allowed cost and efficiency concerns to drive in the main market, which would be chaste quality and weakened its value projectiles. In added

"It's going to take time, but these issues are within our control," Wright said.

In an effort to boost sales, Wendy's will rebuild its menu to offer more compelling value, as well as easy up its marketing efforts. The com-

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B10 / Saturday/Sunday, August 8 - 9, 2026

• • • • • •

THE WALL STREET JOURNAL.

MARKETS & FINANCE

Stocks Notch Fresh Record After Jobs Report

All three major indexes rise; Nasdaq and S&P 500 cap best week since April

BY VICE OF CHINA

The S&P 500 closed a record on Friday after a week jobs report saved investors' fears of an interest-rate hike in September.

The U.S. economy lost 23,000 jobs in July, an area

BUDGET MARKETS perish purchased with

The $12,000 job grate mated by economists. The downward revisions wiped out 103,000 jobs in May and June. The unemployment rate is held lower in 4.1% as more lower cash returns, which from the latter market entirely.

For months, markets have priced in at least one arrears- rate increase this year, driven in part by persistent inflation and energy price volatility. Friday's weak jobs report torpedoed those expectations.

Interest-rate futures now show a 58% chance that the PMI stays on hold at its next

meeting and a 42% chance of a rate increase, according to CME Group data.

"This is a soft report that I think takes some of the fake chance off the table," said Michael Haas, chief invest- ment officer of Citicorp Shudits. "We don't believe that the market should be pricing in aggressive rate-hik- ing action."

The S&P 500 gained 0.4%, chucking its 1949 record high at the year. The three down hu- andred average added to the PMI points. The tech-in- creed Nasdaq advanced 1.5%.

Treasury yields fell. The trial in the 2-year Treasury area, which is related to ex- pectations for the interest rates set by the PMI, slipped to 4.203%, The 10-year Trea- ury yield, which influences decreasing costs across the economy, declined to 4.827%.

While these misguided for several weeks as investors sought the sustainability of the All trade alongside escalating crucial between the U.S. and Iran, that recently, had been tech leaders have started re- gaining ground. Chip stocks, which bore the brutal of the market tumult, are rallying

Index performance this past week

Source: FactSet

again, with the PHILX semi- conductor index up more than 9% so far this month.

For the week, the S&P 500 was up 10%, and the Nasdaq moved 3.2% higher. Both in- draws registered their largest weekly gains since April. The

Dow increased 3%.

Shares of chip maker Nvidia gained 22% for the week, adding $502 billion of market cap, its largest weekly market cap gain on record, according to Dow Jones Mar- ket Data.

Driving much of the mar- ket's recent momentum is an- other quarter of robust corpo- rate profits. The earnings growth rate for companies in the S&P 500 stands at 50.4% for the second quarter, which would mark the highest month, once the second quar- ter of 2025, according to Fact- Set data bleeding projections and actual results.

"The political has made stocks look attractive again, and the average season has extended our expectations," said Mark Mable, chief invest- ment officer of Robert Finan- cial.

Still, the picture is far from vertical. Some investors are al- ready turning their attention to the coming week's release of the July consumer price in $20,000, and could spend expectations for the consumer- rate outlook.

"A hot inflation print

would very much increase the probability of a hike in Sep- tember, but just one point can't going for hike if in the cake," said Bradford Smith, certificate manager of Jones Henderson.

Meanwhile, extreme invest- er billboards has reached levels that have historically proceeded sharp pullbacks, prompting some analysis to sege custom.

Bank of America's bill-and- bear indicator recently stimbed by 21 years old, its highest level since 2023, ac- cording to a research note from the bank's investment strategic Michael Haslam. Market-balanced investors to trim expenses to risk assets and return into deliveries or interest-rate-sensitive hold- ings, including consumer des- press, real-trader investment trusts, and small cap and his- tech stocks, as well as the U.S. dollar.

Situational Sets Big on Chip Startup

By Erin Cuss

And Donna Guntery

All buttoned hedge fund-Situ- tational Awareness made a big bet this past week in Source: Treasury, a private company aiming to reinvent the new chip-are immatur- tured, according to people fa- miliar with the maker.

The company has invested $500 million in the startup, ac- cluding a fresh $600 million inflation this past week, one of the people said. Founded last year by Stanford University re- searchers Abdulmajid, Shaul and Joe King, Danny Foundry has raised at least several hun- dred million dollars, including a recent fundraising of a sale- center of 20 billion, one of the people said. Implicit Capital provincials backed the start-up, a representative for Situa- tional Awareness didn't respond to a request for comment.

Situational Awareness, run by 26-year-old Leopold Aschan-

Leopold Aschanbrenner

brenner, developed a strategy of leading early-stage startup- below they have a product or revenue, as well as publicly traded stocks, an investment report that opens with a very stage of a company's bio- cide. Its investment in Green Foundry shows Aschan- brenner's willingness to have technically complicated and ambitious bets that will take

many years to develop com- mercially stable technology.

Aschanbrenner managed a large portfolio of stocks, such as members that makers 38 those and families. At cloud of the 2nd circular Betone Group and fast-roll maker Rexon Energy, but sold the bulk of its stock portfolio to Asia Strithis investment firm traded its 5th after incurring substantial losses.

The hedge fund retained the portfolio of private stakes is had unsound, including a multifullish-dollar stake in Earthcorp, as well as investi- ments in the 2nd startup Flashback and chip startup Maltz. Aschanbrenner had told investors he would invest up to 20% of the portfolio in pro- vided corporate situations in discount selling $2.5 billion of its Earthcorp stake to In- aysia and Greensaks to every margin table from its leaders, but it had a change of heart and backed out of the door.

Earlier this year, Situa- tional co-led an investment with Iran Capital in Physical Intelligence, which is building on AI model to command re- ports, valuing it at $115 billion, including the new capital ac- cording to people familiar with the market. Foundry's Fund, Thelov Capital, Kleiser Podium, Accel and X-rays also participated in the financing, which totaled about $1 billion, one of the people said.

Bloomberg earlier reported a that Situational had invested $400 million in a company backed by Implicit.

Source: Funders' report to the fore-rechtность A.I. com- peting chip manufacturing 9 plans to develop new ma- chines, equipment and soft- ness, and manufacturing AI chips in challenge Dutch firm ASME, Building.

ASME, with extreme altru- sion: lithography machines, which are necessary for mak- ing cutting-edge AI chips.

Whatnot App Nearly Doubles Its Valuation

By Donna Karsman

And Donna Harkness

Whatnot, a low shopping app, is now valued at $20.50 lion after a new round of funding from investors put its valuation at nearly double about 4:0 and is thrilled.

The Los Angeles company runs a marketplace where millers have low sales au- ctions, howling sports cards, clothes, video and other items to viewers. The first real time. Auctions are rapid fire, currentless roaming as quickly as fire seconds per item. Whatnot takes a cut of each case.

Critics say the app is adde- tive, and some users have

rung up tens of thousands of million in debt. The Wall Street Journal reported:

Whatnot faces arbitration demands from more than 70 people alleging the platform opinions as an unregulated ca- size.

The com- pany said its [1] [2] [3] [4] [5] [6] [7] [8] [9] gambling, and addiction and overgrossing

lowest registered as signifi- cated problems in markets and internal data. The company said it has taken steps to fight

fraud. At $20 billion, Whatnot now has a higher valuation than some key-established

retailers. The market capital tations of Best Buy, Labdomen and Worlier are all below that threshold.

Whatnot said Friday it raised $500 million in the new fundra- ting round.

In a blog post addressed to sellers, the company said the funding would be spent on helping sellers grow and on building

trust in the platform. It has now raised roughly $1.5 bil- les (since its founding in 2026

investors including Korea, LightSpeed and Java but the most recent round, the com- pany said.

The company is also backed by venture firms such as An- drower, Anseam, Anapora Capital and Capital.

Whatnot said that its pre- merchandise volume in the first half of 2026 exceeded the 100 million in the second half of last year, and that the number of buyers on the platform has more than doubled over the past 12 months. Whatnot now hasn't more than 550,000 hours of fire shows each week.

ONLINE AUCTIONS BEGIN MONDAY, AUGUST 31ST

PREVIOUSLY LISTED $1.7864 / STARTING BID $1.704

DESIRE PARERS

Homebuilder to Buy

Rival Beazer Homes

Dream Finders Homes mixed a deal to buy Beazer Homes for about $9.95 million, following several months of talks.

The homebuilder said Friday that it agreed to acquire Beazer in an all-cash transac- tion, and would pay $33.50 for such share of the company's common stock.

The deal values Beazer at about $2.2 billion, including doft, Dream Finders said. The deal has an equity value of about $995 million, based on Beazer's 272 million, estimated for shares, according to Fact- Set.

The companies said they would form the nation's south- largest homebuilder, with com- monetary forepsties, an ganied product offerings and deeper capabilities across large and fast-growing housing mar- sets.

The deal is expected to close in the fourth quarter. At that time, the combined com- pany would operate in 26 mar- sets, and approximately 620 active communities across the Southeast, Mid-Atlantic, Trans, the West and the Midwest, the companies said.

-Carter Hart

TAKE-TWO INTERACTIVE

Less Widens For

Video-Game Firm

Take-Two Interactive, Inc. were recorded higher sales in its fiscal first quarter last losses widened due to slicom- tered development of a title in its pipeline.

The video-game company on Friday wants a loss of $840 million, or 18 cents a share, compared with a loss of $719 million, or 7 cents a share, a year earlier. The wider loss may partly be a result of a $40.4 million impairment charge re- lained to a decision not to pre- ceed with further development of an unannounced title in its applied, but compared with a

Revenue now 25 to $333 billion. Analytic, averaged by FactSet forecast revenue of $1.56 billion. Total net funding led 25 to $2.39 billion.

Some of the biggest com- monitors to buildings and sales were NBA 28, and the Grand Theft Auto series. The com- pany is set to launch Super Theft Auto VI on Nov. 19.

For the current quarter, Take-Two expects revenue to be $1.62 billion to $1.87 billion, with a loss per share of $4 cents to 19 cents. Analytic, on proceeding $1.75 billion, is taken with a loss of 74 cents a share. -Katherine Hamilton

The Nvidia supplier plans to invest $98 billion to boost output.

SK HING

Chip Maker Plans

Korea Expansion

SK Hania plans to invest about $28 billion to expand semiconductor production co- partly in South Korea, as it seeks to ramp up output to most growing demand fueled by the artificial intelligence team.

The world's second-largest memory chip maker said Friday that its board-acquired 54.5 billion won, equivalent to $39.95 billion, in countermatt- compreting $5.2 billion won to race chip fabrication facilities in China, and that $4.6 billion won for new fabrication facilities in Chenega, central

South Korea.

The second this invest- ment because after a thorough review of market demand," the company said, chip market re- search firm Deokai preparation that showed for 50MM and 50400—the two most typical memory chips—is set to grow 19% annually through 2026.

SK Hania said it plans to in- vest a total of 703 billion won at the new market's under a longer-term plan.

The investment, as re- ceived in strengthen the Nvidia supplier's manufacturing base, as demand for high backwidth memory chip and lower demand for high-that- acts continues to grow.

-Kearonov, Art

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THE WALL STREET JOURNAL.

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Saturday/Sunday, August 8 - 9, 2026 | B11

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Through Volunteers of America's Operation Backpack®, more than 59,000 children started school ready to learn this year. Scan to help the next child start strong. voa.org/operation-backpack

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HEARD ON THE STREET

FINANCIAL ANALYSIS & COMMENTARY

This Fashion IPO's Growth Story Looks Flimsy

Reformation, fashion's latest initial public offering, is full of business-life Sustainability, data-driven design and fast manufacturing are just a few appearing in its filing. But they might not be enough to protect its viral dresses from going club.

The clothing brand, which became famous for making sustainable dresses that aren't Orange, made its public-market debut last week. Its shares are up 5% from its offer price, giving the company a market cap of about $1 billion, nearly two times last year's revenue. That multiple is somewhere between Gap, with a market cap that is about half of its trailing 12-month revenue, and Artista, which trades at four times.

Fashion IPOs have been sparse since the boom of 2011, which saw the public-market introductions of Allfords, Kent the Runway, Fushman and Liar's Fashion Lounge. Most fashion debuts have flopped. On average, fashion companies that went public from 2000 through 2016 have returned a meager average of 1.7% over the three years since their IPOs, according to Jay Ritter, a University of Florida professor emeritus.

That sobering record notwithstanding, Reformation is proof that smaller brands can quickly get a foothold in the world of social media. The company has increased its top line at a compound annual growth rate of 34% from 2005 to 2023, according to its filing. Its clothes are frequently spotted on celebrities. The company has loaned in to eye-catching campaigns, including with Monica Lewinsky and the celebrity dresses lawyer Laura Wasser.

Reformation's niche is fast but sustainable fashion at a premium. It becomes from the test-and-scale model of the Zara owner Inditex, ordering new products in small batches and then buying in bulk the style that do well. But Reformation's dresses are prices, rang-

Reformation's edge on quality and value appears to be unproven

Reformation share price since IPO

You've found news related to December 2025 or early 2026. Source: The Wall Street Journal, The company's summary, 1997 United Market Intelligence (Inventory)

Annual net revenue

Average days of inventory outstanding

Reformation made its market debut in New York last week.

ing from $98 to $998.

Clothes in this price range are selling surprisingly well because they are delivering "style, newness and quality" at a sweet spot that isn't quite luxury-level pricing, according to Kristen Claess-Zammo, apparel-industry analyst at Circana. Luxury brands have alienated some shoppers by raising prices too quickly without much innovation. Others sitting in this below-designed tier include the French brand Ariane and Los Angeles-based Stand. Toronto-listed Ariana falls into this bucket, though its products are on the cheaper end of the range.

It is clear that Reformation's private-equity owner, Premia, has paid attention to the bottom line. High prices and limited exposure to retailers—only 30% of sales is through department stores or third-party retailers—have helped

the company achieve operating margins exceeding 30% in recent years, levels that roughly match those of Ariana, a much larger competitor. Reformation has generated annual net profits since 2008, except in 2023.

But the company's well-stitched

narrative has some weak points. First, growth is slowing. Revenue growth was 36% in 2025, compared with 22% in 2024, perhaps partly as a result of store closures resulting from the Los Angeles wildfires. That looks even weaker compared with much larger

brands Ariana and On, which rose at compound annual growth rates of 20% and 30%, respectively, over the past two years.

Rapid growth will likely require store openings, more exposure to retailers or more marketing spending, all of which could put pressure on margins. Reformation has said that it plans to more than double the number of stores over the next five years, which implies about 20 to 34 now stores a year.

Secondly, quality perception has been raised. Define forums are full of disappointed customers complaining about Reformation pieces' shabby quality relative to their premium pricing. About 12% of Reformation's materials are deadstock, or leftover fabric from other factories. Often, these are synthetic fabrics such as polyester, which aren't premium or eencommercially friendly material.

In fact, this hasn't stopped Reformation's customers from going back to the brand. About 70% of its direct-to-consumer revenue in 2025 came from returning customers. But marketing bans can fade, and poor perceptions regarding quality and sustainability can backfire on a company.

Third, it isn't clear that Reformation's supply chain is a true differentiation. While it touts fast production and lead times, the speed hasn't translated to higher inventory efficiency. Reformation holds its inventory for about 102 days before selling it. That is a slow turn compared with Ariana, at 70 days, and less than 70 days at Inditex. So far, that hasn't led to significant discounting, at least in direct-to-consumer sales.

Designer brands' weakness has created an opening for brands like Reformation. But continued growth will require undeniable quality over cheaper fast-fashion brands such as Zara, and real value over designer labels. So far, evidence remains threadbare.

...Joyce Lee

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Cell Service How prison delivered me from my phone addiction C3

CULTURE · SCIENCE · POLITICS · HUMAN

REVIEW

THE WALL STREET JOURNAL.

Faothall Findings How data transformed pitching on the field Books C7

Saturday/Sunday, August 8 - 9, 2006 | C1

THE SPANISH BORDER CHAOS ILLUSION

Europe's Borders Are Finally Working

Viral images of 72,000 migrants stampeding into Ceuta looked like a security collapse. In reality, it revealed Europe's much harder line on immigration.

By Dizzy Lennon, Dizzy Hennon Ave Massonian Director

I was like comes from a movie about Europe's dystopian future: Wave after wave of mostly young men from North Africa pouring into European territory. So many people kept swimming around a freshwater of rocks at the border that, in their rush to get out, they clinked over others trapped underneath, drowning scores. Crowds forced open other parts of the frontier, and border guards watched help- lessly as an estimated 72,000 people jubilantly came in, some shouting, "Woo, Equator!"

The images from the Spanish enclave of Ceuta in North Africa last month went viral almost instantly, shaping up as a moment of global humiliation for Spain and its left-wing prime minister, Pedro Mar- chez. Anti-immigration parties and leaders across Europe, as well as President Trump and Elon Musk, said it was the ultimate symbol of Europe's soft- hearted inability to contain immigration. Trump and Musk called it a literal "invasion," citing the

numbers of military-age young men. Italy dramat- ically composed border checks with Spain to ensure none of the arrivals would enter Italian soil.

But that take proved short-lived. The new arrivals were not welcomed with open arms. There were no waiting refugee camps with beds and hot meals. Shops quickly shut to prevent loot- ing, making it difficult for the arriv- als to cut or drink water. Some le- cals turned up with makeshift weapons to protect their stores. Within a day, tens of thousands of those who crossed had begun to re- turn mostly on their own. Recently armed Spanish troops Bog marched most of the rest back to the More- can border, no questions asked. Mo- recan did not object.

Within days, an estimated 70,000 had gone back, leaving about 2,000 in Ceuta, according to the Spanish government. Many of those are unaccompanied minors who will eventu- ally be returned to Morocco after Spanish officials

locate their families, while some sub-Saharan Afri- com will be put up in a nearby migrant camp. None can leave Ceuta for mainland Spain or elsewhere in Europe without a visa check. That means it's un- likely more than a few will ever set foot in mainland Europe.

Europe is making progress securing its borders, though too belatedly for many voters.

Questions remain about who orga- nized the mass crossings and whether the Moroccan government is guilty of either staking it or allow- ing it to happen unimpeded. But a week later, it seems more like a spontaneous rush to the border than a long-planned attempt to emigrate. Migrants crossing the Burrito-Sap or Mexico travel with documents, money and spare clothes. These turned up with flip-flops.

Crazy as it seems, the whole epi- node also suggests something unexpected. Europe, having struggled to cope with a surge in illegal im- migration over the past 12 years, is making prop. Please turn to the next page

Ariana Grande and

The Shadow of My Own Thinness

The discourse around celebrity weight loss misses the point. The hardest conversations are the ones we owe to the people right next to us.

By RUTHER FREIDLANDER

I WAS EIGHT YEARS OLD, sitting in a class- room, taking a turn that was still 10 kids away. We were reading "The Secret Garden" and lead, round robin, and I was bored. It was almost summer. I looked down at my loss.

When I pressed my thigh flat against the chair seat, it spread. I don't think I had ever noticed this before. It looked to me like a slab of meat in a butcher's case. Some flakey off- shout that had nothing to do with the leg it

was attached to. Almost unkindly, or maybe not at all, I took my fix and drew a line on my skin from my knee up to where I thought my leg should rest. A straight line. The leg I was happened to have.

I spent the next 20 years trying to live in- take that line. It was about the food, and it was not about the food. It was about being thin, and it was not remotely about being thin. What it was, for two decades, was the majority of my brain: a run- Please turn to page C4

Ariana Grande attends the premiere of the film 'Wicked: For Good' in New York last year.

Inside

REINVENTING SOMA

The Copenhagen restaurant returns, adding a research and development component with controversial chef René Restrepi. C5

'Body

Worlds'

Another car ringers, the doctor who created the anatomy rabbit with cadavers, her diet C6

MAKUSING

The 200-year-old game is a hit with many teens this summer at camp. Can camouflage for behind! C4

EARN YOUR LUCK

Italian luxury executive Brunello Cucinelli is into ancient philosophy. C14

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Q | Saturday/Sunday, August 8 - 9, 2026

• • • • •

THE WALL STREET JOURNAL.

Europe's Borders Are Working

Continued from the prior page into swearing its borders, though too belatedly for many of its voices. Even Spani's blankets, the self-positioned flag bearer of a new, anti-nationalist left, has equally taken a hard line on asylum seekers.

"The irony faces is that this incident had almost an impact on immigration in Europe in the end, but the images still endure and still had the sense of loss of control over borders among European countries," said Andrew Seles, head of the Migration Policy Institute, which advises several governments. "The real lesson of this—which policymakers largely got but the public didn't—is that the control over borders worked."

Most European countries eventually congratulated Spain for handling the crisis quickly. Spain has now erected new barriers along the breakwater to drive future concern.

For Europe as a whole, the number of those arriving illegally has fallen sharply over the past two years. In 1970s last year from 390,000 to 2000, according to Forster, Europe's border and coast guard agency. By comparison, the U.S. registered about 120,000 uncrustres of people crossing the U.S. Minors border illegally in the past year, a similar level when adjusted for Europe's bigger population. That is far fewer than the millions coming across during the Balen administration, and many arrivals are now turned around at the frontier rather than processed for asylum.

European countries aren't turning everyone back into males it, but they are making it harder to claim asylum, and they're bulging, growing numbers of asylum seekers in detention camps while their claims are answered, at least for up to six months. They are tightening border security and outsourcing enforcement downstream to neighboring countries where migrants must cross, be it Morocco, Libya or Turkey, in return for money, visas or security cooperation.

"By every measure, Europe has not had this much control over illegal migration in a decade," Magnus Brunner, the EU's commissioner for migration, said earlier this week. "But the events from Costa show that dramatic impact local the host statistics."

Consider Spain. The country has taken an open border policy toward Latin American, most of whom can enter the new and apply for citizenship after just two years of legal residence. It's a ready-made labor force for an aging economy that shares language, culture and religion and is therefore less controversial for Spanish voters.

Not so for migrants from cities where Balen takes too bad office, be called against the market over their crisscrossing. Costa's ralgetas, claiming Spain had a moral duty toward refugees. Yet over his eight-year term, Spain's good rate for asylum seekers has dropped to 12% from 30%—for below that of many other countries, including the U.S. And the 29-foot tall. Earliest says, "barbies campaign has the same force replaced by an even tailor set of three forces, the highest reaching 10 feet, twice the height of the more well-known barrier built in Hungary by former Prime Minister Viktor Orban.

By comparison, Trump's border works top out at 30 feet and aren't yet densely outfitted with thermal cameras and motion detectors. "It's a border force that Trump can only dream of," says Hans Threiss, a former Spanish immigration minister.

AS ANYONE WHO has tried to hold Europe in the lowest years that run attest, the continent is geographically laxing to wail off time. North America or Australia, for more than through vast stripper, easily crossed by centuries of standing across. The waters between Turkey and Greece are driven with endless long islands, as Odysseus learned the hard way, many of them conclude by conduct.

Spanish and Italian agencies have to monitor the failure—a desert larger than the blueprint, where are the Mediterranean. Then there are the everyone interested, which require France to post immigration officers across 10 time zones, including the tangled 450 miles between French Guiana and Brazil.

It is also more difficult for Europe to act in concert. The U.S. is a

Sea and land migrant arrivals, Jan. 7-Aug. 2, 2026.

*Regional data for Spain available through June 10.

single country. The EU has 22 each with its own laws and politics.

Europe, unlike the U.S., has long a land of emigration, not immigration, sending millions to the Americas and overseas enquiries. Until the end of the Cold War, most European countries were fairly hemispheres. France and Britain housed small communities from former colonies—an immigration pattern so mandates that 300 to France air citizens of former West African colonies fly into Paris without passport.

It was, paradoxically, the erasure of border controls within Europe that led to its first attempts to persuade tighten its borders beyond. In the 1990s, as remnants of the Berlin Wall were chased into souvenirs, a created German district assembling a passport-free travel zone with France and its neighbors, a seashore grid of subdukes and high speed rail linking a transnational union on longer scarcely for thirds points and exit visas. The catch was that any one ostraval border was now every country's border.

The new EU stopped in to help build border forces, including an eight-foot tall barrier in 1995 to replace the rusting, short-high wire that confaced Costa off from Morocco. Spain called it "unincorporating the border." Almost immediately, Spanish lawmakers started to debate a tailor force.

Sparking shift crises were forcing West African countries—Ghana, Senegal, Nigeria—to lay off state workers, who struggled to land jobs in the private sector. Migration began replacing public service as the means of advancement.

Globalization suddenly gave money and means for people to move, smuggling networks now and smartphones provided instant feedback on the best routes. Remittances flowed into remote villages where the most reliable way to reinvent the medfall was to send another family member across the Sahara.

Both Europe and the U.S. saw a sharp increase in numbers of residents born outside the country. Since 1940, the percentage of foreign-born population in the U.S. has risen from 8.2% to 35.2%, close to levels in the 1920s that prompted a backlash. In Britain, it went from 4.4% to 17.1%, and in Germany from 8.7% to 20.8%, though in both cases about a third of those came from other European countries. Even if governments can back new arrivals, it could take years before the tensions fade. Adding to

the problem, many voters in Europe and the U.S. feel they have had no say in this transformation. "People is most developed countries, feel like immigration is happening to them rather than something they are choosing," said Seles.

The frustration turned once-freign parties into the leading opposition in France and Germany. In Britain, it delivered Brexit, to give the country what other EU countries lacked control over national borders. But then the Conservative government of the ex-Johnson, turning shut off across for European migrants, opened the doors to the rest of the world, sparking record levels of legal immigration.

Tots of thousands of asylum seekers followed, striking on small boats (from France, Waring left the EU, the U.K. has little range over Paris in getting them to stop the boats. The public is fuming, immigration is the top voter

concern in polls. And though the LSF has government has largely slashed both legal and illegal immigration returns well-and-werk in polls with the anti-immigration party Reform U.K., while a new, harder right party, Reutner-Britain, is gaining ground.

EUROPE'S CURRENT immigration system is a hall of interest. Liberal leaders like Sánchez said conservatives on a vow to welcome refugees—only to crack down ones confronted by the cold reality of foreign men massing toward their borders. On the right, past prime ministers from Britain's Johnson to Hungary's Urban laws swore to resist medical tensions only to quietly preside over record-hunting levels of legal immigration that keep pronouns funded and low-wage jobs filled.

Migrants life they way through an asylum system whose administration can't possibly check whether each claim of persecution in a far-away land is true. Noters tell pollsters they want stricter borders—but also things like affordable groceries, made possible in part by cheap immigrant labor.

Take Poland, where the 2005 migrant crisis helped other in the conservation unstranded Law and Justice party, which vowed to protect the 90% Catholic country from mass migration. Then it faced the labor strains of a nation whose economy

has grown 15-fold since 1990 while the population barely budget. From 2007 to 2025, the nationalist government awarded more first-time residence permits to arrivals from outside the EU than any other European country. Now, Poland is led by a pro-European contract party that has quietly tripled forcible deportations, creating a precedent that Germany's far right hopes to test.

For all the rains and electrical to-mill, immigration remains Europe's most widely debated issue—and also where governments of all stripper now brought agree.

"The real lesson of this...is that the control mechanism worked."

MAGNUS BRUNNER EU's commissioner for migration

The riotning point was the 2005 crisis, when more than 1 million people, most flowing forces civil war, poured into Europe. That September, Angela Merkel resulted to welcome them in Germany and took a vital offer with a teenage Syrian. But within weeks, Merkel flew to Turkey, agreeing to pro billions of cases

to a country shifting into autocracy, for its security forces to stop more from coming. The EU, once a reliable source of pressure for Turkey to hold more competitive elections, suddenly had a stake in regime stability.

For Turkish liberals, it amounted to a European nail through their democratic hopes. For Europe's liberals, it would become a playbook. In 2007, Italy's time union left government struck a controversial deal with Libyan authorities in Tripoli. It, say, provides financial and technical support to the Libyan coast guard, which in turn intercepts booze and returns migrants to mainland Libya. A U.K. report accused the loosely organized force of shooting at vessels and packing migrants into a system of rudimentary jails, where there they were enlisted, beaten, used for forced labor, even raped.

Arrivals from Libya plummeted, Italy persuaded its reason for died.

Now, Europe's land borders are nearly all hurt-tailed by imposing forces. The EU's European Commission once compared each structure to the Berlin Wall. These days, it helps outfit them with AI-powered surveillance equipment.

From Scandinavia to left-wing Spain, most of the most human rights-minded governments coordinate to get the less scrupulous governments across the Mediterranean to perform the great work Euro-

Immigration population as a share of overall population, by decade

Source: BMBCSA

pean voters don't want to see their own border guards engaged in.

"Government across Europe are generally moving in a more restrictive direction, hoping they can see off the populace," says Alan Manning, the former head of the U.S.'s Migration Advisory Council, which advises the government on migration policy.

It's all too late for many voters, who have watched Muhammad overtake Noah as England's most common newborn boy's name, or Syrians reshape Germany's demographic landscape.

Spain has financed and supplied Morocco with border control equipment and invested on big projects, including a new railway. Morocco gets first-film on temporary work visas in areas like agriculture. In exchange, Spain can return any Moroccan that illegally enters Costa and a sister enclave, Melilla, unless they are minors, and Morocco enforces its own borders to prevent people from sub-daharan Africa from crossing toward Spain.

The strategy does not come without risks. Spain's arrangement has given asymmetric teenage to its smaller, poorer neighbor. Morocco claims Costa and Melilla as its own. In effect, Spain is counting on a historical rival that exerts its territory to protect that same territory.

Europe's age-old stealess, mailed for years, are reassuring themselves in the politics of immigration. Turkey periodically allows migrants into Greece, with which it has long-running disputes over Aegean waters and islands. In late 2025, Italian, with Vladimir Putin's support, issued Middle Eastern immigrants to the Public border, distrusting Europe from the Russian president's omission massing of troops near Ukraine.

Perhaps the last lesson from Costa is that—thanks to social media—immigration is now far more visible in real time than ever before, whether it's Moroccan, opening into Costa, migrant cartoons soaking their way through Mexico or dinghies crammed with men floating toward England.

These simple matter. The migrant cartoons helped people Trump back into office if Europe's comfort was not to prevent far eight parties from taking power, they used to try to see the argument beyond numbers—because every person of a migrant host probably stays with voters longer than border-crossing statistics.

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THE WALL STREET JOURNAL.

...

Saturday/Sunday, August 8 - 9, 2020

REVIEW

I Didn't Realize How Addicted I Was to My Phone—Until I Went to Prison

A former Cincinnati politician writes about the irony of his involuntary separation from his constantly chirping device

By P.G. SUTHERFIELD

Sitting in a car in a McDonald's parking lot in January 2020, I made a final call to my wife, Sarah, to tell her I loved her. It was the last time I'd be in possession of my iPhone before self-sacreditering to the Federal Correctional Institution in Ashland, Ky.

My aunt and my sister Curtis were with me; the prison was just a five-minute drive away.

Sarah had stayed behind in Cincinnati, where we live, in part to preserve as much normalcy as possible for our young sons. Saying goodbye to them had been the single most unpunishing moment of my entire life.

Before incarceration, I was a member of Cincinnati's city council for a decade. In 2010 and 2015, I'd been paying up to run for money when the FBI targeted me in an elaborate sting operation. Undercover agents posing as real estate investors made campaign donations, which I believed to be ordinary and routine and disclosed in public filings. Federal prosecutors nonetheless indicted me on public corruption charges, alleging a quid pro quo. After a three-week trial, I was acquitted on four counts and convicted in two, after which a judge sentenced me to a 26-month term of incarceration. (Later in this second saga, I was punished by the president in 2015, and in April of this year the U.S. Supreme Court unanimously vacated my convictions.)

GOING TO PRISON meant many things: an immediate loss of freedom, bruising reputational damage and powerlessness over how it would affect my family. It also meant that for the first time in the decade and a half since I first got a smartphone, I'd be forced to disconnect.

As is the case for the majority of Americans, my cellphone was practically a bodily appendage, discarding to screen time surveys and data analyses, adults in the U.S. now spend north of four hours a day on our phones; we check them more than 10 times an hour and don't stop even while watching TV, out on dates or driving.

I was no exception. Whenever mine would haze or clasp, I'd immediately shift my attention from whatever I was doing to the income tax already, even though the gangs were not always time-sensitive: work emails, updates from our children's school, relentless spam from political campaign cars, even people who've held office hate threat. Sarah and I would also exchange at least a dozen text messages in the course of coordinating our days, but from her hospital job as an oncologist, me from City Hall and from around town as I met with contributors, visited neighborhood business districts and did community safety walks. As my sentence learned, the messages between us were often shot through with tenderness: an unprompted 'I love you' for no particular reason.

'My ability to speak to and hear Sarah and our sons' voices was limited to around 15 minutes a day.'

P.G. SUTHERFIELD

The Ashland, Ky., Federal Correctional Institution where the author was detained.

At the prison, one of the first things I saw was a poster warning inmates and their visitors against—and threatening punishment for—bringing contraband, including phones, onto the compound. I felt my inability to reach Sarah a circle.

FOLLOWING A CUSTOMARY (muscle strip snare), I was led on a tour of the prison composed by an inmate, who introduced me to other inmates and took me to my cell—an 8-by-10-foot cubicle that I was to share with another man, in prison parlance known as one's 'celly.' As I took in my new surroundings, all I wanted was to call (or at least test) Sarah to say: I feel physically safe. The man I'm meeting on the one being held to me, and most of all I miss you so, so much.

But I had no means of doing so. At first.

Soon, I'd see inmates unveil smartphone all around me. The economy inside prisons is an incredible testament to the power of capitalism and how creatively goods will flow to those who want them, so long as the buyer can make it worth it for the seller.

Several men, knowing I was new, offered to let me use their smartphone to fix it! One Sarah. The idea of seeing her made me feel anxious desperation.

But I'd decided ahead of time on a handful of priorities for navigating prison, and So, I on the list was: Get home. I wouldn't do anything that could risk extending my stay or prolonging my sentence. I would not physically fight with another inmate, even if provided. I would not move around with any contraband, including phones.

Being caught with a phone was the most frequent reason that inmates at my prison were sent to the Special Housing Unit—also commonly called the hole—where prisoners could be kept for 23 hours a day in a small cell.

But it was clear from that first night on that many men chose to have a contraband phone, accepting the risk in large part to keep in touch with their families.

In the evenings—when there were fewer guards around and their patrols were more predictable—my housing

unit was filled with the sounds of men sharing the latest prison group with their wives and girlfriends, asking their children what they did at school that day and focusing on an aging parents.

I especially empathized in these moments with the men whose sentences put them in the category of 'long-termers'.

Of course, smartphone usage wasn't exclusively wholesome. Men would also scroll YouTube videos, partake in online sports betting, and persuade women on the outside to date-

tions, sometimes seemingly to get those women to earn more into their commissary accounts.

STILL PART OF THE DEMAND was the unappealing conditions of the alternative: the prison phone room.

Just off the yard, this small, dingy room contained 10 partitioned pay-please-style phones along three of the walls. On any given day, between two and five of them were broken.

Especially during high-traffic times, after waiting in line, you'd pick up a phone still warm from the grip of the inmate wheel just been using it, the receiver still smelling like his breath. You'd stand just inches from another man, while you both had conversations with loved ones that were often deeply personal.

The connection was frequently brain, and every few minutes, an automated voice would interrupt to announce 'This call is from a federal prison'—as though other party on the line needed reminding. My ability to speak to and hear Sarah and our sons' voices was limited to around 15 minutes a day, and talking to them for that period of time, often around dinner, left zero minutes to speak with my mother, my three sisters or any other family members or friends.

Prison guards would spend hours every weekend touring literal holes in the walls of the housing units looking for spots where men might be storing their smartphone. Sometimes, before the daily tidbits that occurred to ensure all inmates were accounted for, they would jokingly call out, 'It's count time, give—go ahead and hide your cellphones.'

The prison I was kept in was nowhere near one of the worst. I was detained in a minimum-security 'camp.' But I saw, up close, how thoroughly the system deprives people from the illtimes of family connection they need.

Through months without a smartphone, I learned another thing much more unexpected. My brain—if not my heart—felt a lot better without it.

At first, I thought it was a function of wide-open days unfurling before me. I had gone from a high-innocence preference, a full family and social life

and various volunteer commitments—all forestically coordinated through my smartphone—to the unstructured rhythms of prison. But as my confinement continued, even through my

ranging to be home, I felt an indisputable change that could only be tied to the lack of a smartphone.

Phone-induced distractedness, flusteredness and agitation had been constants in life before prison. Without a device constantly pooling my brain and interweaving my thoughts, I became more alert to

what was happening around me. I sensed my surroundings. I became better at noticing.

As winter grew way to spring, I tracked the almost hourly change in blossoming trees beyond the fences, grateful to see the physical transformation of new beginnings. I discussed and debated life's big questions and foundational topics with my only: the complications of family dynamics, our greatest fears and regrets, our deepest longings for the future. I wrote poetry—something I'd never done before (or since).

IN PRISON, EVERY NIGHT, as phones emerged from their fading places and my housing unit filled with the cacophony of men FacelTuning and watching YouTube clips and playing music videos, I'd think of a simple piece of advice another inmate had given me soon after I'd arrived in prison: 'Do your time, bro, rather than letting your time do you.'

Also, this is not a tale of transformation.

Four and a half months into my incarceration, in an incredibly rare occurrence in our legal system, three federal judges ordered my immediate release after hearing oral arguments in my appeal. The outcome of my case was still pending, but I was borne. As I resettled into the life I had so amused, I at first tried to avoid the agitating, distancing and intrusive pull of my phone. I simply did what so many of us always have the option to do but can't or won't I kept my plan from 'Do Not Disturb,' put it in another room and left it behind at home when we went out for a family walk or meal.

But within just a few months, I'd reverted to my old habits—immediately planning at and engaging with every ping and alert and reflexively picking up my phone to avoid through my rotation of go-to websites.

It's an irony I'm still grappling with a kind of freedom I wanted in prison that I couldn't manage to bring back home with me.

P.G. Sutherfeld is a writer and public speaker who lives in Cincinnati with his wife and three sons.

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C4 | Saturday/Sunday, August 4 - 9, 2026

REVIEW

In the Age of Ariana, A Reflection on Thinness

Continued from page 7 ning, or appear, of thoughts about my body, my weight, and the distance between what I was and what I had decided I should be. I was 28 before a single person sat me down and had anything resembling a serious conversation with me about it.

I worked as fashion. I had commando, boyfriends, best friends and unsolved parents. But there is no protocol for well-meaning mothers who suspect something about their 20-something who pays her own rent, doesn't miss work and answers all her calls.

I think about that now, watching the internet talk about Ariana Grande.

Since the first 'Wicked' press tour in 2024, Grande has been the subject of much speculation about her weight. But the real front pitch reached last week, after Grande released the music video for her latest single, 'Petal.'

The video shows Grande as an aspiring actress, auditioning in front of a table of men scrambling notes like, 'family voice, very kind—but nothing special' and 'tuckles' hurt to love a few life.' This, and while Grande dances and sings deepensinely, bony clench as inyour face as it could be.

There is no reality in which gossiping about someone's weight loss is a way toward helping or healing.

Grande, in her music video for 'Petal,' which set off alarms for fans and outing disorder recovery advocates.

Immediately following the 'Petal' video release, it seemed a new love of concern had been reached. Now, their parents, and eating disorder recovery advocates were scared, making comparisons to Karen Carpenter, the '70s musical icon who shot at an arena nervous at 32. Thinkers were on green screen asking when enough would be enough.

And then a representation for Grande announced she'd be taking a break from this public car, thanking her tour, but canceling her multi-anticipated London performance in 'Sunday in the Park With Hunger.'

'Boundaries need to be set,' Grande explained a day later on, says, 'Human beings can need a break sometimes.' She did not comment on her health or directly address her four concerns. But many people are still looking for nothing in between the lines.

THE DISCOURSE HAS arranged itself, as per usual, into two competing camps, that is speculating in public about a woman's health. The other has reminded us all of a role largely best of the body products movement and that is the most common by postmodernist myself. We don't comment on bodies. Full stop.

In treatment, it was pushed to an like way: how bizarre that we face comfortably going up to people and talking to them about their bodies. And also: Isn't someone's body the least interesting thing about them? Ask them about their interests, their life, their relationships, their favorite book. The 'no body commentary' is also presented as the compassionate position and has the

great advantage of being easy to follow. Up until the 8kg G, I've lived to take out.

For music—one of weight loss before people like me, who live in a recovery first reality, to reassure what felt right and what didn't when talking about bodies. More and more, people in my daily life were showing up looking completely different, and to not acknowledge that at all made me

REVIEW

The author, Ruthie Friedlander, in 2023.

feel a little crazy. When you're watching at lunch for a friend who then shows up looking like they looknouraged, are we still expected to say nothing? When does saying nothing become inauthentic?

I want to make it clear that the first camp is doing harm. There is no reality in which gossiping about someone's weight loss, especially on social media, is a way toward helping or healing. Nobody knows what is happening in anyone else's body. I don't, and I've lived it. Speculation is not sure. It is entertainment that has learned to speak in a sympathetic voice, and the people it hurts most are not celebrities. It's the people reading the comments and taking notes on what gets noticed.

I have come to believe the second camp—the one I so comfortably lived within for the past decade—can no longer be the answer to the first. The blanket rule is not a moral position. It's a moment's position.

Nobody is my life was cruel to me about my body. That is the part people misunderstood. What I get instead was a very long, very polite science: a room full of people who could talk and laugh together with who had also been taught that bodies are private, that commenting is rude, that the kind thing is to say nothing.

Silence is comfortable, albeit declining. That's the whole appeal. When I say I wish someone had spoken to me at 32, I am not wishing someone had told me I looked sick. In honesty, that probably would

have made me proud. I am wishing someone had been willing to be uncomfortable in a room with me.

NOW HERE is where I have to indict myself, because I have been on the other side of this and I have been so better.

I have still sat across from friends who lost a startling amount of weight in a startling amount of time and said nothing. Not once, but repeatedly.

Dramatic weight loss no longer means what it used to mean in the thumper era. It might be a prescription. It might be good, no chance, or a thyroid, or none of my business. The honest answer is that I frequently cannot tell the differences between concern and projection, for, tenses worrying about my friend and being unsettled by watching a body change in a way my own history has trained me to read as danger. And some of it is just cowardice. You have yourself you're respecting her privacy.

Ironically, the blanket silence has given the people with the least standing, strangers on the internet, permission to speak, while the people with the most standing, the ones actually in the room, held their tongues out of respect. That's backward. If you don't know a woman, her body is not your subject. And if you do know her, silence is not necessary. It is a choice with consequences, and you should at least make it knowingly.

I don't know anyone who is close

3 Principles For Public Discourse

Society and culture are legitimate grounds for public conversation. We cannot be an option, happening in Ariana Grande's body. We can absolutely talk about an industry and an audience that still research on home thinness. Those are not the same conversation. The culture—a, Grande's music video for 'Petal' as a form of advance—is a legitimate subject. Her health is not.

The useful conversation should never has an audience.

Everything valuable that has ever been said to me about my illness was said by one person, to me, in a room, with my own meaning and nothing to gain. (I'll give an exception to group therapy.) This is the clearest tool I know if the intervention has spectators, it isn't an intervention.

The closer you are, the full more you care. Blanket silence goes the people with the least standing, strangers on the internet, permission to speak, while those with the most standing, the ones actually in the room, held their tongues out of respect. That's backward.—R.P.

to Grande, or what, if anything, any of them have said to her in private. I'm assuming neither do you, and neither does anyone posting about it. What I know is that somebody is close enough, somebody always is. In my case, dozens of people were, for 20 years, and I choose to believe every one of them was doing what they believed was the decent thing.

That takes about four seconds to say. It cost me 20 years to hear it.

Ruthie Friedlander is the founder of the Langs Library and co-founder of The Chain, a peer support community for women in the media, fashion and entertainment industries with eating disorders. She is the former digital director of IndyCar and deputy editor of ELLE.com.

Mahjong Swept Summer Camp This Year, Is Canasta Next?

How an almost 200-year-old game became a hot commodity for teenagers

By Tana Wynn

SAMSUN MICHIGAN and his buddhists at Camp Harlan typically pick tools and climbing or fire swim as their Saturday elective. This summer, 30-year-old Samson persuaded friends to join him in the ice ball for mahjong lessons. His friends were skeptical of the selection to sit inside and learn a tile game?

Since they were booked, Since Camp Harlan introduced mahjong lessons as an elective this summer, 'word spread like wildfire' among campers, said Ellie Tepper Schulman, associate director of the overnight camp in Kunkletown, Penn., as well as its resident mahjong instructor. She said campers and staff alike were playing the game at 'all hours.'

It isn't just Camp Harlan. Across the Northeast and New England, summer camps have faced mahjong instructors to lead clinics and are incorporating play into daily schedules. Staffers are teaching lessons during rest hours or choice time and parents are getting requests for mahjong sets. At camps where no instructor is on the schedule, there are bringing their own sets and recruiting peers.

I still consider the game something played by women of older generations,' said Lauren Perlin, co-operative director of Camps Jacy and Louise in western Maryland. But she recently asked camp-

ers if they play mahjong and 'teen and teen' of hands were up. 'I was shocked,' Perlin said. She's considering adding it to the schedule next summer.

Generations of adults remember being shooed from their mothers' and grandmothers' games of mahjong, which originated in 1890—century China, organized popularity among U.S. women around the 1920s with a version that differs mostly in its use of a card listing winning hands that change annually.

Now, as its popularity surges, it's a favorite of family game night, a multipreATIONAL activity that can keep everyone off their phones.

Kills Valkendra, 14, learned in May that her camp, Pine Forest, in Pennsylvania, would be hosting a two-day mahjong clinic. Campers were encouraged to bring their sets. Ella's mother taught her, and she did not have with friends at home in Miami Beach but doubted her camp friends would be interested, so she didn't bring her set.

That changed when professional mahjong instructor Samantha Richman taught campers ages 15 to 20.

Before a break, it was hard to convince them to play, but one they started learning, you could tell they wanted to win.' Ella said of her friends. They asked if her mom could bring the set and four mahjong cards for visiting her, she added.

Ellie's mother, 44-year-old Levi Maltz, said she is 'surprised but pleasantly shocked' that her teenager and friends enjoy it so much.

As a kid, Maltz recalled she 'wasn't even allowed in the room when my mom played with her friends' and said she had no interest in learning mahjong until a year ago. Now she regularly plays

with both her mom and daughter and it has been a connection for the three generations.

In July, Trails Ead Camp in Beach Lake, Penn., held its first two-day mahjong clinic for the 75 girls in entering ninth through 10th grades. They 'thight want to stop,' said Sammy Linden, assistant director of new game.

Sasha Rand, 14, took her past travel mahjong set to Camp Rock-n-Moore, near Allentown, Penn., armed with a chest chest so the mothers could easily see which suits go together. Sasha was well-versed in teaching the game from showing elementary-age kids how to do it at the Tide-County or the hometown of

Wyskoff, N.J.

Wendy Siegel, owner and director (and resident mahjong instructor) of Tyler Hill Camp in Wayne County, Penn., said: 'There's something about sitting around a table, talking and using their brains that kids are looking for. They want to do something that has eroded the test of time for generations.'

Last year, Siegel taught the oldest boys canasta, another game popular among retirees, but a bit with the campers. Siegel made the school's first spotter the next few things.

At Camp Lohando in New York's Carlsall Mountain, professional canasta instructor Lisa Assumption, also the camp's activities director, taught the card game to the female counselors in training the visiting kids. Assumption was inundated with appreciations from their families.

'Parents came up and daughter was saying, 'We're no excited our daughter is learning how to play canasta,'' she recalled. 'It's a thing that brings people together.'

Sasha Rand, top, taught her friends. Ella Valkendra, below, learned the game from her mom.

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Saturday/Sunday, August 8 - 9, 2020 | C5

REVIEW

Noma co-founder René Redzepi, above. Dishes on Noma's new menu: magnolia blossom with shrimp mousse, floating nasturtium leaves with herbs, seeds and berries; and barbecued 'chocolate mushroom' with green strawberry, sea buckthorn and chili paste.

Noma Is Back. So Is Its Controversial Celebrity Chef.

After stepping down from the Copenhagen restaurant, René Redzepi returns as its creative director, laying out an ambitious vision even as questions about its culture persist

By Roman Tewes

Less than five months ago, when chef René Redzepi announced that he would stop down from Noma, it seemed like the end of a two-decade run at the Copenhagen restaurant that has changed global fine dining.

Instead, at age 48, Redzepi is back on the Roma campus, beginning his next chapter in the very place where his leadership recently came under intense scrutiny in the wake of abuse allegations that he says led to years of reflection and therapy. His new plan to stay out of the kitchen and reinvent Noma as not just a restaurant but also as a research-and-development hub for the food world.

Hanging over his vision for the company he co-founded in 2000 is the

question of whether one man can rehabilitate not only his own image but also that of a brand he built.

Noma reopened this week under new leadership. The tasting menu, around $700 a person, will change monthly. After holding these lifeboats, since since 2023, Noma reopened without any.

As creative director, a role announced in June, Redzepi says he is focusing on what he calls 'Noma 3.0,' in which the restaurant 'revolves into a kind of brain for the food world.' In an

interview with The Wall Street Journal, Redzepi said that goal encompasses a number of projects, such as research into new fermentation methods and how seaweed and insects might take on bigger roles in our diets. (This reporter has eaten discounted meals at Noma while writing for other publications.)

The news of Noma's reopening and Redzepi's continued involvement came after a new wave of allegations of physical and psychological abuse at the restaurant. Criticism first surfaced publicly about a decade ago, which led Redzepi to acknowledge a pattern of intimidation in a 2003 essay. 'I've been a bully for a large part of my career. I've yelled and pushed people,'

he wrote in food magazine Lucky Peach. The allegations intensified in recent months after former head of fermentation Jason Ignacio White published testimonies on social media and the website Roma shows, including anonymous accounts from between 2009 and 2017 that said employees were punched in the face during service and subjected to sexually degrading language. White declined to comment on Redzepi's new role or his return to Noma.

The New York Times published an in-depth investigation into the allegations in March, following the story, Redzepi announced on Instagram that he'd be stepping down from the company.

The latest allegations circulated days before a Los Angeles residency was set to begin, triggering boycott campaigns on social media, protests and the withdrawal of major sponsorships from Blackbird, Rexy and American Express. The residency went ahead as scheduled.

Mehmet Çekirge, an intern at Noma in 2016, says he didn't think its workplace issues would change just because a new chef was in charge of the kitchen. He said he was made fun of for his Turkish accent and repeatedly insulted, even though Redzepi wasn't running the day-to-day kitchen operations. 'I'm a hundred percent sure there are some ballots still there,' he said. 'That's the culture.' In Çekirge's view, any link to the past, combined with habits passed from one generation of cooks to the next, makes lasting change difficult. 'You go through that kind of stressful environment, and the way you learn to cope with it gets passed on to the people you train,' he said.

Pablo Soto, the new executive chef, acknowledges that new scrutiny brings added pressure. 'I feel a lot of responsibility to make sure we don't fall into anything from the past, but that's not going to stop us from having a team that works incredibly hard.'

Redzepi uses the allegations have prompted self-examination.

'I've done 10 years of therapy and intensive coaching with professionals,' he said. While some of the stories were new to him, he accepts that he may not remember certain incidents. 'I couldn't recognize them,' he said. 'But I'm not blind to the fact that

these people may have experienced something that I didn't feel at all.'

In a statement provided to the Journal, a Roma spokesperson said: 'When Noma has faced criticism, we have always taken it seriously and acted on it. Over the past decade, we have invested significantly in improving both the working conditions and the culture at Noma.' The company says it commissioned an independent audit of working conditions this spring ahead of the reopening.

Redzepi speaks of creating 'a generational company,' citing 2075, when Redzepi would be nearing 100 years old, as a benchmark for a number of loosely defined goals, including to take on challenges 'from biodiversity to nutrition to creating entirely new ingredients or perhaps even new tools of eating.'

He insists he will stay far from the restaurant kitchen. 'If you are at Apple headquarters, there are also many divisions that don't actually interact with each other,' he said.

Redzepi plans to spearhead a division under the working title of Noma 1974. That team is fighting more than two decades of notebooks filled with recipes, ideas and fermentation lags. When pressed on that, he is elusive. 'We have several long-term projects that we're working on. Some of them I don't want to talk about because I'm

actually a little bit superstitious about these things.'

Redzepi's advocates see this as just the latest reinsemism for Noma. Between 2010 and 2022, Noma was named the world's best restaurant a record five times by the World's 50 Best Restaurants organization. It helped transform Denmark into one of the world's leading dining destinations.

No matter how the new leadership team operates, the Roma name will continue to be tied inconstantly with Redzepi's. Donald restaurant critic Ute Troelse, who has covered Copenhagen's food scene for two decades, said the chef reminds him of Napoleon Bonaparte for his 'relentless drive to conquer new territory.' In that way, Troelse says Redzepi's return shouldn't be all that surprising. When the chef announced that he—and Noma—would soon return to Copenhagen, that drive an outpouring of support.

'We all make mistakes—what matters is recognizing them and changing course,' said Roberto Solis, chef of Rionik in Merida, Mexico, who flew to the opening and said he knew other chefs who were doing the same. 'With Rene's guidance, I think great things are ahead. He's incredibly visionary.' Whether that vision can truly introduce itself from the restaurant's complicated history, however, remains to be seen.

The Noma kitchen at work in 2021.

Redzepi speaks of challenges 'from biodiversity to nutrition to...new ingredients or...even new tools of eating.'

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C6 | Saturday/Sunday, August 8 - 9, 2026

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OBITUARY

GUNTHER VON HAGENS | 1945-2026

He Turned Cadavers Into Attractions in 'Body Worlds'

A German scientist, he was always working while alive and wished for his body to keep working after his death

By CHRIS KOMMEL

I take around 1,000 hours to get an entire body ready for a "Body Worlds" exhibit—a process that involves removing the skin, partially dissecting it to reveal organs, muscles and veins, replacing its fluids with liquid plastic, then arranging it into a pose and setting it into place.

Dr. Gunther von Hagens, the German scientist who created the internationally popular—and controversial—exhibits, called the process "plasticisation." He hoped these "plasticisation"—posed doing things like shrinking a basketball or holding a cigarette with the blackened lung of a smoker exposed—could teach people about how their bodies work.

And he didn't want his work to be interrupted by his death.

Von Hagens died July 24 at age 85, nearly 20 years after he was diagnosed with Parkinson's disease. In keeping with his works, he family said his body will be plasticised. What happens to it next have? been made final, but von Hagens mentioned several ideas over the years, such as being cut into slices so that he could be in many places at once, or perhaps posed to guest visitors at the entrance to one of his exhibits.

His friend Jeffrey Rudolph, president of the California Science Center, where "Body Worlds" made its North American debut in 2004, said when

von Hagens talked about why he wanted to be plasticised after his death, he said it was about continuing his work.

"My ambition is to democratize anatomy," von Hagens told the independent in 2007. "Before 1998, when I came on the scene, anatomy books contained no 500lbs. poses. Now they all have them. I gave anatomy life."

Heading West

Gunther Gerhard Lefection was born on Jan. 10, 1943, in what is now known as Skidnieरणre. Poland: He was less than a week old when his parents, Gerhard and Gerhard Lefection, carried him in a laundry basket as they fled the advancing breezes. The family eventually settled in the East Ger-

Gunther von Hagens, second from left, with his siblings.

man city of Gera, where Gunther grew up the middle of five children. He suffered from hemophilia and spent a significant amount of time in the hospital as a child, which inspired his interest in the medical profession.

His father worked a variety of jobs, including at a coal store and gas station, and as a beekeeper. His mother was a nurse and a committed communist. Von Hagens later said he was raised in a "very communist manner" and that "socialism was my erratic religion."

As he got older, he became disillusioned with the German Democratic Republic and decided to leave. In 1948, he was

"Anatomy has given me the chance to make more of my life."

on anethole www.winter

More stories at WSJ.com/obituaries

captured trying to enter Austria. He was imprisoned until the West German government paid for his release the next year.

He had begun studying medicine in the 1960s and continued his studies after his release, eventually receiving his doctorate in medicine at the University of Heidelberg. He developed his process of plasticisation in the late 1970s while working at the university.

Von Hagens was married three times, the first two times to the same woman. He and Cornelia von Hagens married for the first time in 1975. The two eventually decided to take Cornelia's maiden name because she disliked being referred to as "the Lefection," which roughly translates from German to "little darling." To do so, they divorced and remarried under the names Cornelia and Gunther von Hagens.

Horse and Rider

Von Hagens originally conceived of plasticisation as

teaching tools for universities and educational institutions; this would allow students to handle real pieces of human anatomy. He began publicly showing the plasticisation as "Body Worlds" in the mid-90s.

Von Hagens with the jumping dancer, left, and in the early years of plasticisation, above.

tics, a plasticised horse with a human rider carrying his brain in one hand and the horse's smaller brain in the other.

"The overall effect is a picture of health through subtraction, the robustness of the human body still apparent through a multitude of its failures," Discover magazine wrote in 2006. "The visitor quickly comes to understand that there is no generic human form but rather infinite variations on the human theme."

People lined up to see it. Von Hagens's Institute for Plasticisation said "Body Worlds" has been seen by more than 30 million people in 42 countries and that more than 24,000 people have signed up to donate their bodies to the company for plasticisation after they die. "Body Worlds" hasn't been without controversy. Religious leaders have inherited to the ear of human remains. And the other born questions about where the bodies came from.

In 2004, they were a news report that von Hagens's company accepted bodies in China of people who had been executed. He said at the time: "I can't prove the bodies weren't executed, but I believe they weren't."

The Institute for Plasticisation said the bodies in question were contested, not plasticised, after the questions about their governance arose.

The Institute said all of the bodies shown in "Body Worlds" come from voluntary donors.

Von Hagens approached his work with the touch of a television. He was nearly seen in public with out his signature before, which he wore during his performance in 2002 of a televised autopsy in May 1 and 2. It was reported to be the first public autopsy in the country since the early 1800s. Von Hagens went forward, even though he was warned by authorities it would be illegal.

Survivors and Donors

Von Hagens and his first wife, Cornelia, had three children, Rurik, Reza and Tena, before they divorced in 1998. In 1952, he married Dr. Angelina Whalley, who helped create the "Body Worlds" exhibits.

Whalley survives him, as do his three children. The Institute says Rurik and Whalley committed to having their bodies plasticised after they die.

"I've realized that death is absolutely normal and life is the exception," von Hagens told the Independent in 2005. "No, anatomy has given me the chance to make more of my life."

READER MAIL

WSJ Readers Respond About Generation X's Drinking Habits

'WILD MY WINE COOLER' joined Gen X reader Adam Sait in response to The Wall Street Journal's recent article about how bars are catering to Gen X. The 20-year-old, who says his favorite bar is New York City's Double Chicken Please, is representative of a generation that has largely maintained its drinking habits, even so younger Americans have cut back. In a comments section full of pages, readers weighed in about why they drink at the bar—or don't bother. Here, a selection of their comments, lightly edited for space and clarity.

Gen X Responds

Gen X finally gets the recognition we deserve. Expensive outlouds. 'His music and everyone home by 10 because we're got a bad look.'—Andrew Silver

Stop smile, millennials. Gen X has got this one. —Rose Marchison

I'm Gen X and would be happy to frequent bars more often. As soon as you stop changing 120 for a draft beer, let's talk.

—Alison Matthews

Bars are supposed to be happy, social places. Gen X has been trained to be perpetually miserable. Boomers that have more than a 60% drinks take days to recover and millennials have the misfortune of being forced into being responsible. All that is left is Gen X.

—Donald Wattermore

Heck Yeah! Absolutely love going out and pulling a stool up to a bar. We start up out to get drunk, we go out to drink and socialize. As a frequent traveler, it's a great way to meet people and get a fool for the room you're in. Tell some jokes, have a laugh and find out what makes people look. Sure beats the cesspool called the internet. Life is too short not to stop at

— but in a blown-out town in eastern Ohio with no windows.

—Alison Kempf

"...These early parties were a way to get older folks in

the show," said Jan Cross, the bar's owner. "They spend money on cocktails, they drink, they have fun." He forgot to mention they tip well and are too old to get into fights. Send the bouncers home.

—Mike Fitzgerald

Ah, yes, drinking in the '80s. Any other Gen Eats remember Bartles and Jaymes? —Adder Schneider

Young folks don't have any money, that's a fact. Gen X has come money to blow but ought to know better, 'cause so many of our prop kids shipwrecked on the rocky shores of home and drugs. I can

name more that are in the ground than I can that are above it.

—Reginald Smythe

Baby Boomers Respond

This morning at coffee with my ancient friends, I noted that the younger generations are drinking less and having fewer children. I also noted that but not alcohol, half of us wouldn't be here.

—Eddie Smith

Beck, I'm past 60 and still hit the dance floor from 10 p.m. to 5:30 a.m. Got to keep it going late night, as do many 35-places. Get one tonight starting at 10:30? Because

adults don't always need to call out of bed on a Sunday morning at 7 a.m. —Peter H

A Silent Gen

Responds I'm almost 82, and I have a couple of groups of friends who meet for happy hour free or free times a month. I live named food and drinks, and one of my friends have

bands acts as an other person. I can be drinking more than I did in my youth, but sharing food and drinks with my over-70 groups of friends is wonderful time I've had to give up almost everything else I love taking, tennis, pickleball, and this week, saladici. —Mary Silverberg

A Millennial Responds

Millennials and Gen X drink. We just don't want to spend 100 for a beer to hang out in a bar and then pay for an 1700 or per home. We drink at our homes with our friends, throw the music on Spotify, and have just as much fun for way less money. —Aron Ayer

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You Can Almost Hear It A catalog of fantastical musical instruments C10

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Pitch Perfect

Biomechanical analysis helps pitchers reach new levels of velocity. Batters are challenged like never before.

Unhitable

By Rich Friedman Haynes, 288 pages, $32 By WALL LODGE

I'M 1985-2000 book, 'Moneyball.' Michael Lewis spent far more pages on hitting than pitching. Mr. Lewis documented how Billy Beane, the general manager of the Oakland Athletics, seemed to have figured out officers by emphasizing dogging and on-base percentage over batting average. But pitching was a mystery that couldn't be solved. Pitching was more art than science. Mr. Lewis likened pitchers to writers:

They had all sorts of ways of achieving their effects and they needed to be judged by those effects, rather than by their outward appearance, or their technique. To place a premium on velocity for its own sake was like placing a premium on a big vocabulary for its own sake. To say all pitchers should pitch like Brian Ryan was as absurd as insisting that all writers should write like John Updike.

But Major League Baseball today isn't defined by crafty wordability on the mound with their own styles. The sport now cultivates clones of Mr. Ryan throwing as hard as possible with maximum spin on the ball.

In 'Unhitable,' Bob Friedman tracks the transformation of pitching from art into science. Mr. Friedman runs the Pitching Ninja

account on X, an entertaining scroll of nasty pitches and baffled hitters he started in 2014. Pitching Ninja was a battle that turned into an obsession, first for Mr. Friedman and then its members of the baseball media and the players themselves. Matthew Liberatore, a young lefty for the St. Louis Cardinals, was thrilled when his covertball was featured on Pitching Ninja. He knew it meant he had arrived.

Mr. Friedman offers a close look at the pitching revolution. We learn how pitchers use data from sites such as Baseball format to find out how fast they are throwing, how much spin they are getting on their pitches and how hitters are reacting. We hear from Tech Skidup, perhaps the best pitcher in the sport, who used biomechanical analysis to reach 300 miles on bear on his football. Mr. Skidup, who was recently traded to the Los Angeles Dodgers from the Detroit Tigers, worked with a pair of Tigers pitching coaches who were obsessed with motion-capture systems such as Hawk-Eye to refine his mechanics. "Now I feel like I can just throw the ball so hard as I want to, and it's going to go over the plate," Mr. Skidup tells the author. Retired pitchers can only marvel. "Imagine being able to see exactly how your body moves and where energy is lost," says David Gore, so much in his younger days. "It's incredible what pitchers today can do with that information."

One thing technology hasn't done is keep pitchers healthy. The unnatural art of throwing a baseball still trace tendons and wrenches elbows. Pitchers today are encouraged to go all out on every pitch. They are assured they won't need to remain in a game for as long as

past pitchers who had to mete out velocity judiciously so they could finish nine innings. (This is one area where modern pitchers aren't like Mr. Ryan, who routinely completed games.) When today's starters end a game, they are simply replaced by a bulgers arm who comes in and does the same thing: maximize effort for velocity and spin on every pitch. Believers used to be pitchers who weren't good enough to be starters; now they are flamelessers in shorter starts. "While advancements in biomechanics and technology have significantly improved our understanding of pitching mechanics and performance optimization," Mr. Friedman writes, "the injury bug remains elusive."

In recent years, Mr. Friedman emphasizes, pitchers have begun to dominate the game. The longseaside batting average this year has hovered in the late 2000s, down from 200 in 2000. Compared with 20 years ago, there are now more strikeouts and fewer runs scored each game. The collective reward-run average for pitchers has dropped more than half a run.

There are drawbacks to the pitching revolution. Joe Sheehan, a baseball writer, has observed that the sport's real outstability problem isn't pure of play but lack of action. In a world where pitchers are this good, hitters have to sell out for power, hoping they lock into a mistake pitch and let it over the fence rather than engage in a residual battle with the pitcher. An increasing number of at-bars end in a walk, strikeout or home run—place that require no significant action in the field.

The pitchers, coaches and technicians who speak with Mr. Friedman offer remarkable

insight. Tom Boone, who worked on biomechanics with Mr. Ryan decades before the rest of the sport caught on, comes across as a channel-like character. "We are looked at everything," the author writes. "Mechanics, functional strength, nutrition, sleep, recovery, mental focus—it was all part of the equation." Mr. Friedman devotes a chapter to Paul Skenes, the star right-hander currently pitching for the Pittsburgh Pirates. Before joining the majors, Mr. Skenes worked at Louisiana State University pitching lab with his coach Wes Johnson. "The lab allowed Johnson and Skenes to analyze every aspect of his delivery in three dimensions, pinpointing inefficiencies and opportunities for improvement," Mr. Friedman writes. Mr. Skenes learned to generate more focus with his pitches by subtly adjusting his front-side landing mechanics, enhancing both his velocity and command.

Mr. Friedman's book is full of technocorporate profits. His writing in what you would expect from someone who built a company "into a global data powerhouse, recharging here online businesses understand their users." He also has a tendency to get ninety-sized around big-name pitchers; his own of Mr. Skidup's wages on ex-epithetic. But Mr. Friedman is well-situated to explain how the sport has changed in the two decades since "Moneyball." If you want to understand modern baseball, whether you like it or not, "Unhitable" is an instructive guide.

Mr. Latch is the author of the novel "Lloyd McNeil's Last Bite."

Matters

Of Mind And Heart

Hannah Arendt By Thomas Meyer Penguin Press, 560 pages, $35

By BENJAMIN BAUDY

On the next page, he is a 67-year-old author and Hannah Arendt simply as his 14-year-old wife. Though both were born in Germany, Arendt's paperwork recorded her as Belown, while both were listed as starters. Before Arendt became the great thinker of staternalism, honorary had compromised her into these terms. Thomas Meyer's "Hannah Arendt: A Life of the Mind" returns her thought to a world in which a few

words on a form could decide a life. Expertly translated from the German by Shelley Frisch, the book is the first full-scale Arendt biography since Elizabeth Young-Brook's 1882 account. Young-Brook, who studied philosophy under Arendt, presented the advantages of the apology and living memory. Mr. Meyer draws on later correspondence, archives, unpublished writings and his experience utilized a 12-volume German edition of Arendt's work. His archival discoveries change the shape of her story. His biography can be episodic, with his documentary findings sometimes presented without much interpretation. Yet he produces a fresh Arendt, less a true intelligence surveying the 2005 century's catastrophes from above than a participant in its battered institutions.

Mr. Meyer begins with her apprenticeship in belonging. Born in 1904 into an assimilated German Jewish family, Arendt grew up in Kingsberg, then the capital of East Prussia in the German Empire, under the political tutelage of her mother, Martha. Königsberg, the home of Immanuel Kant, supplied a civic vocabulary: law, citizenship and Böhung—the ideal of self-cultivation.

Mr. Meyer is especially good on the family history that made Arendt emancipation appear durable. For Arendt's grandfather Miss, Mr. Meyer writes, Zionism punctured the belief that "one could be on an equal footing as a Jew, as a citizen, and as a German." By the

Before Hannah Arendt defined the nature of totalitarian evil, she worked against it at the risk of her own safety.

2000s, that assurance belonged to history. Arendt would later retire with matchless severity about staternalism and the "right to have rights", here these abstractions acquire a prefatory in German-Jewish arrangements that proved disastrously.

Before Nazi Germany revoked her civic belonging, universities offered Arendt a more exalted citizenship. From 1938 to 1939 she studied philosophy with Martin Boulogne, Edmund Planarier's paper C8

DOCUMENTED Hannah Arendt, ca. 1933.

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THE WALL STREET JOURNAL.

BOOKS

'The labor is a chant.' His idleness a tune; 'Oh, for a bee's experience.' Of clovers and of booze' -tenry becomes

FIVE BEST JENNIE DURANT

The Insect World

The author of 'Bitter Honey' on the big lives and surprising stories of tiny creatures

Journey to the Ants

By Bert Holzköfer and Edward G. Wilson (1994)

1 Around 20 quadrillion ants live worldwide, scientists estimate, and yet the morning secretion is smooth, our test are possible to most of us. In 'Journey to the Ants,' Bert Holzköfer and Edward G. Wilson unveil these astonishing 'successablenesses' as part of their long investigations into ants' social lives. The authors, both entomologists, detail violent territorial battles between citizens and against socializing predators. 'If ants had nuclear weapons,' they write. 'they would probably end the world as a week.' Yet these insects are also master farmers. Leafwater ants cultivate fungus for food, while ants of the Lutea genus tend upside for their sweet secretions 'like domestic cattle.' Wilson's decades of ant studies eventually broadened into a landmark career in conservation until his death in 2022. Here, his mind is on his primary subject and the insight that anchors this book, thats cannot be understood as individuals, but must be seen as elements of a superorganism that functions as a single living unit. As the authors put it, 'one ant alone as a disorganist meet; it is really no ant at all.'

The Sting of the Wild

By Justin G. Schmidt (2016)

2 For 'The Sting of the Wild,' Darlan G. Schmidt (1947-2022) will nearly 200 million words have—especially, in the name of cosmic Schmidt, an entomologist who specialized in insect defenses, created the sting-grown takes which ranks stings from a hambles-It to an encroaching it. He describes such painful experiment with the description that of a nematode. The sting in a Western honey tree, a 2-in-2-in scale, is likened to a 'flaming match head' on your ants while the level-6 sting from a bullet ant feels like walking on hot coals. 'with a 3-inch nail embedded in your feet.' Between-pendents about getting stings or oozing the subjects of his study—holes' mites—are 'more bitter than quieter' and hot 'like a balsamco pepper.' Schmidt denials how the development of nematode stings enabled the rise of social insects. Adaptation over millions of years gradually shifted what were once eag-honey stages into the venom-deficiency weapons that boss, ants and swaps now use to protect their citizens—and include miners—from predators and competition.

CHERRY ON TOP Ants hard at work in Indonesia.

Buzz

By Thor Hanson (2018)

3 There are roughly 4,000 native bee species in the U.S. and 20,000 species world wide. In 'Buzz,' Thor Hanson focuses our attention beyond familiar honey bees—which he calls 'the chicken of the bee world' to the beauty and variety of their lesser-known relatives. Mr. Hanson, a biologist whose previous books replaced seeds and feathers, traces bees' revolutionary transformation from carotenoids and feathers to the body. He weaves viral field encounters throughout, from observations of adult bees that hover over calf flies 'like boat skimmer' to studies of dagger bees, builders of skimmery cliff-side nests that resemble 'a vast desert city of wattle and dead stories.' To illustrate how essential bee pollinators is to our food supply, Mr. Hanson demonstrates a Big Man Burger ingredient that depends on bees—include lettuce, onions and even beef (from cattle fed on bee-pollinated

alfalfa). Only the bun remains. He insists that bees' value, though, lies in both in the week they do and in the feelings they inspire. 'We often group of insects has grown on close to us ... and none is more revered.'

The Language of Butterflies

By Wendy Williams (2020)

4 'The Language of Butterflies' is equal parts an ode to the qualities of insects. In tribute to butterflies' beauty, behavior and natural history—and to the scientists and enthusiasts dazzled by them, Wendy Williams, whose books on natural history include 'The Mover' (2003), recalls her first sighting of a blue morpho-butterfly in Costa Rica. 'I felt an immediate uplift of pure excitement followed by a joyous, grossly delight.' Butterflies' colors, she argues, are a language-shaped by evolution. The cause shimmer of the blue morpho confuses predators, while monarchs' vibrant orange-and-

black wings were luvin and other predators that they are poisonous. 'If baling doesn't work,' she writes, 'try to cross the overestimationess.' Ms. Williams delights in the paradoxes of butterfly evolution, including monarch caterpillars' collinated resistance to followed trains. The right time protects them, but too much can shun their growth or glue their eyes shut. 'Many die from the poison they are required to ingest. This is perverse.' (fascination like hers has inspired enthusiasts to create sanctuaries for Infertility preparation, such as 'butterfly highways' planted with milkweed for requiring monarchs and revitalized wetlands—evoked with hips to attract Fodder's blue butterflies.

The Insect World of J. Henri Fabre

By Jean-Henri Fabre (1949)

5 For years Jean-Henri Fabre (1923-2015) - a self-ought naturalist—deceased of a piece of land where he could

study insects. When he finally purchased a few acres of property in Provence in southern France, he discovered no peaceful insulation but a landscape full of murder and indifference. 'The Insect World of J. Henri Fabre' collects his many discoveries, but it is his wirly and the atrical view, translated here by Alexander Triunio. At Barbra, that makes Fabre as compelling as his subjects. No insect shocks him more than the female pouring mantra, a creature with a pious name that helps her appetite for other insects—and even for her own mate. The pouring mantra's appearance is 'a mask for feature habits; those arms folded in prayer are on throat weapons.' Fabre's observations reveal insect behavior unnoticed by other naturalists of his day, underworing why he was so adamant about observing living insects in their habitats. 'You rip up the animal and I study it alive,' he admonishes his contemporaries. 'You labor in a broken chamber and dissecting room, I make my observations under the blue sky.'

A Record

Of Arendt's Proceedings

Continued from page C7

Resized and Raft Jaspers. Biodegger because both market and lower Arendt later told him that the 1958 book, 'The Human Condition,' owed him 'preoccupy everything.' She enforces of Nazism in 2021, however, estimated what Arendt eventually condemned as thought's retreat from the common world into 'happenedly higher evokes.'

Arendt's study of Rabal Varnhagen (1867-1935), a German Jewish writer who converted to Christianship, examined what unknown one society over the Jew who seeks it through self-reliance. Varnhagen became Arendt's first instrument for thinking about Rabal emancipation. In 1833, when Hitler came to power, reflection acquired a deadlier. Arendt began gathering evidence in that, and enthusiasm and was arrested in the summer of that year. Relaxed within days, she fled between and reached Paris that autumn.

Mr. Meyer gave a welcome focus on Arendt's Paris years, which other writers have treated as an internal between the two aspects of the Arendt's American fame. Reading the reward she prepared after reading how God, he was 'two Hannah Arendt's taking shape in there. He wishes and the women devoted to Jewish action. She helped establish the French branch of Youth

Aliyah; by 1866, some 120 children had reached Palestine through its efforts. Working alongside a largely forgotten network of women, she arranged training, negotiated visa rules, raised funds and corresponded with colleagues in Berlin and Jerusalem—the practical education in politics that Mr. Meyer restores to view.

She had married Günther Horn, a fellow student of philosophy, in 1929, as their relationship was ending in 1956, she met Blücher at one of her Paris lectures on antisemitism. They married in early 1960. That time the French government interned her at liars as an enemy plan, until the mass releases that followed France's defeat, she left the camp and rejoined Blücher. Their passage to America depended on part on affidavits and funds that them helped process for them. Arendt would later define righteousness as exclusion from an organized community in which one's opinions would have been significant and one's actions effective. After becoming an American citizen, she called a passport 'the most beautiful book I know.'

In New York, the labor of salvage acquired a literary form. Arendt wrote for Adidas, an elegant newspaper. At the publisher Arbachee Books, she worked on American editions of Kafka, helping give a second address to a Jewish literature-deprived of much of its satire readership.

From publishing, Arendt moved into cultural institution. In 1944 she joined Jewish Cultural Reconstruction, the organization that helped identify and retain cultural property left after the destruction of European Jewry (she would later become the organiza-

tion's managing director). She and her colleagues compiled inventories, negotiated among court-judgeants, and dispatched books and archives to Jewish communities. From one collection point alone came more than 800 Total: 50,000 and roughly 200,000 books.

The numbers person and the host less book things to the same historical breach, though their issues contain incommensurable. Each had been severed from the writing that made rights, ownership and successions intelligible. Arendt's 'The Origins of Totalitarianism' (1955) catalogued disertaments, delves while theorizing its shape. Mr. Meyer gives this labor its proper weight.

In offices devoted to meats and restraints, Arendt had seen that a human would show not sustain itself. It depends on recognized claims and agreements someone is willing to keep Total domination attached that fragile construction at its root, making human beings superfluous and sweeping them into an ideological process whose terrible board was, in her phrase, 'everything is possible.' Against that drive to mastery, she set what she called reality: the capacity, given with every birth, to begin something unforeseen. Because action enters a web of other lives, its consequences are unpredictable and irreversible. Progressive offers release from what has been done; promises create what she called 'stands of security' as an uncertain future. Mr. Meyer's connection went makes the book experience behind these ideas easier to see.

Arendt had spent years among institutions that preserved continuity imperfectly—and could fail catastroph-

ically. At Adolf Eichmann's 1961 trial in Jerusalem, Arendt confronted the question of how to judge a murderous system. She report can in five installments in the New Yorker in 1963 and two published later that year as 'Eichmann in Jerusalem. A Report on the thought of God' by Sunday, Arendt meant Eichmann's cast of mind. The citizen and fanatical antisemitism behind them were anything but banal. His 'thoughtsweave' did not mitigate his guilt. Arendt held him responsible for mass murder and defended his death sentence.

Arendt mistrusted the conflict of a collective identity. Yet, when attacked as a Jew, she would answer as one:

The central controversy of Arendt's career concerned her claims about Jewish-loaded roles in compiling lists and administering deportations. Mr. Meyer's recovery of Arendt's work within Jewish institutions is meant partly to answer those who accused her of indifference to Jewish lists. Yet it also makes her stance here hardly not easier, to explain. She knew from within how such groups operate amid extreme danger. All, she imposed what Norman Peckner's called an 'moralistic demand' that Jews under Hitler to brave and noble than ordinary people could be expected to be when murderers held all the power. It was in this context that Gershom

Scholom, who had worked beside her at Jewish Cultural Reconstruction, accused her of lacking almost the lawless for the Jewish people. Their quarrel was not over whether Arendt belonged to that people, but over what such belonging required of judgment. She replied that she loved friends, not peoples. Belonging, for her, could not mean unparalleled criticism. She mistrusted the conflict of a collective identity. Yet, when attacked as a Jew, she insisted on answering as one:

The uproar estranged old friends and drew along criticism from Jewish organizations and Holocaust survivors, though it did not derail her career. As Mr. Meyer shows, the controversy fiasco a public persona already years in the making. Arendt's German accent, cutting foundations and abnormally corporate—these Metagonistas, a political scientist and friend of Arendt, had shown an 'intellectual clever fighter'—become inseparable from her arguments.

The life Mr. Meyer reconstructs needs as a sustained revolt against the power of categories to diminish. He shows her ideas taking shape of desks where classifications opened or fore-dowed futures, within organizations charged with appreciating the remnants of an inheritance among the living, born against that history, but arguments no longer seem to descend from the altitude of solitary thought. They bear the absence of film handled, claims contested and Jewish allegiance translated from words into work.

Mr. Reiter is the author of 'Blesses. Schatz: An Artist, a Murder, and the Mpishing of History.'

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BOOKS

'And when he had opened the seventh seal, there was silence in heaven about the space of half an hour.'—REVELATION 83

The Making Of the Bombs

MOST OF US HAVE SEEN photos of the first atomic blasts—the ever-expanding mushroom clouds, the fireballs, the mat decentrums—that would end World War II and forever change our lives. In "Polarity" (Chicago, 344 pages, $30), Emily Seyl takes us back to the final months of testing, in the high desert of New Mexico, as the theories of the Manhattan Project became reality.

Ms. Seyl is a writer at the Los Alamos National Laboratory, where some of the atomic work took place. "According to its basic design," she writes of the bomb, "a small, central sphere of facile material would be compressed by a much larger, outer sphere of conventional explosives to form a supercritical mass at the device's core, generating a nuclear explosion." Most of the technical details surrounding the test have been "well documented," we are told, but as for the test site itself, "the look and feel of Trinity as a makeshift laboratory and bustling desert community inevitably began to fade" after the end of the project.

The book fills in some of that fading history. In addition to diagrams, blueprints and construction photos, Ms. Seyl shows us the day-to-day lives of the workers who had to know their families, some for months at a time; to work on a secret project that many initially knew little about.

The book includes photos of makeshift camps, barracks, lattices and other infrastructure, including the photography bankers from which images of the explosion would be taken. There are black-and-white photos of the Hill, the residential complex that many of the project's scientists called home, as well as one of the "Straight Length Banded Accumulates," the containment wood inside of which the first atomic explosion would take place.

As with any scientific experiment, there had to be painstaking observations and measurements. Photos show the construction of observation hole to the north, south and west of the blast site, some 10,000 yards—about 7%; miles—away. "The shelters were fashioned from sturdy timbers supporting concrete slab roofs," Ms. Seyl writes, "with the blast-facing side of each shelter buried under a mound of earth and beams along the opposite wall bearing against the sand fill."

Along with narrower turns not so much balance as experiments that didn't achieve the desired results. A Mercilone effort went into transporting Jumbo (at right)—the nearly 500,000-pound container wood intended for the test explosion—from Ohio to New Mexico, where it went unused for four that its size and density would show the data from the detonation. "The wood-sea placed out at ground zero but 800 yards to the northwest, joining a ring of some of the closest-range instrument bankers." If the test faded, "the weighty investment is failure would loose quietly from the subduces as history unfolded around it."

Most of the scientific work at Trinity was directed to the Gadget—the codename for the atomic bomb itself. The book includes numerous photos of the Gadget in its final form, as well as a diagram of what scientists thought the mushroom cloud would look like: One fascinating sequence of photos records the actual detonation on July 16, 1945.

After this successful test, the Gadget was succeeded by Fat Man and Little Boy, the two bombs dropped over Japan.

Mark Text writes about military history for the Journal.

A Marine Paradise Lost

Tin Can Coast

Bloomsbury, 336 pages, $32

By Jesus Frown Skate

The CALIFORNIA Current stretches some 1,900 miles from Cannabis Vancouver Island to the Baja Peninsula, its upwelling of nutrient-rich water from the ocean floor making the West Coast one of the most productive marine-life areas in the world.

In "Tin Can Coast," Joseph Ogilvy explores the poetry and the beauty of this coastal world, the marine creatures who live within it, as well as the practices that are getting it.

Mr. Ogilvy, who was educated at Oxford and later became a chef, writes in propulsive prose that elevates this, his first book, shows a simple history: "Once the man's eyes are transformed into sunshine or anchovy flesh, the food chain becomes a snarled, confused web of constant ambush and attack and pursuit and escape, pass open, golden flaring, thumpback whales rush, muzzle upper, or sunflow subway, impelling the fish along with the water they were in. Then driving the water out through closed waters plains in their vast mouths and leaving the sunbows to be digested."

The author traces the long sweep of interactions between humans and the

marine world along the West Coast, starting with the ancestors of Native Americans, who published the lady high-way across the Pacific to present-day California from northeast Asia.

The book initially focuses on the Chumash people, on Southern California's Chumash Islands, who once fished from small boats made of bundled reeds. To the Chumash, "a school of sunbows would have looked like an enormous, dark shadow passing beneath the water." The book ends with Mr. Ogilvy's dogas and to Terminal Island in the Port of Los Angeles, the site of an old Japanese fishing village and where much of the seafood now imported into California, first arrives.

In between, he documents the story decline, in recent decades, of the region's commercial fishing industry. The roots of this liddell reach back to the 18th and early 19th centuries, as for hunters from Russia and elsewhere nearly wiped out the West Coast's once-abundant other populations. This, Mr. Ogilvy argues, was "California's original sin," spotting the coast's socio-political balance.

A skeletal tale, but Mr. Ogilvy also known it with humor. "In all their millions of years of existence," he writes, there had "never been a better time or place to be an abalone" than California in the mid-19th century, "and there likely never will be, it was a golden age of flourishing, gatoro-pods" because their chief predator, the otter, had been nearly eradicated from the region.

"Tin Can Coast" ranges from Japanese abalone divers in rather early to the post George Sterling, the "high price" of the abalone esters," and his circle's beachside abalone coolents; from the advertising of canned tuna as

"climism of the sea" to the fish-pot small in Monterey, whose civic leaders once set up a Seedling Committee to grapple with the unpleasant odors emanating from its canning industry toward Foster Gormel by the Sea.

Mr. Ogilvy, who has worked in restaurants in London and Austin, Texas, couldn't resist including a recipe for

one celebrated restaurant in San Francisco, he describes the preparation of commercially farmed abalone steaks as someone who leaves his way around a commercial kitchen. "The shackled abalone is trimmed, butterflied, and threaded lightly with a mullet." The chef then "slips the abalone necklatives into a pan of hot garlic butter that's

IN TUNA A worker at a fish cannery on Terminal Island, Calif, in 1931.

preserved abalone with instructions to use a cauldron "large enough to hold a man." And who knew that 39th-century San Francisco socialites ground up to descent abalone shells and sprinkled them on their invitations?

The author's experience as a chef comes through in his writing, "during

just stopped foaming and cools it on a gentle heat until the edges just start to think about casting, maybe a minute and a half all in."

The chapters on the doctrine of "541stmen sustainable yield" in fishery management and the fraught international negotiations of fishing rights are

a bit of a sing. But they're offset by Mr. Ogilvy's stunning descriptions of the work in places such as Tunaולם—the ethnically Portuguese fishing community of Point Loma, near San Diego—and on fishing boats. "Up close if looked like chaos, a whist of flying fifty-pound fish and hunters, gouging books and blood, spray and rolling deck. Books snagged on faces, snagged tuna barrelled into shoulders and sheets, fishermen tumbled into the foam-whipped waters."

Still, Mr. Ogilvy's conclusions are dim the news there is hardly a commercial fishing industry in California anymore and that once-abundant marine life, such as abalone, has become a cult.

The story of California's decimated fishing industry begins with Russian fur hunters.

nary privilege for the elite. For commercial abalone farmers, "four years is a long time to raise a shellfish to the size of a duck's egg."

"Tin Can Coast" is, ultimately, a powerful eulogy to a new nearly watched world—still remembered by some through such imaginative words as John Strubercle's "Cannery Row" (1945) and institutions such as the Monterey Bay Aquarium. As Mr. Ogilvy writes, "sure the abalone lies in both stars, the sunbows as tanks, the tuna in the fish holds of charter boats and gourmet rations cans." It's a profoundly sad story, beautifully told.

Ms. Siler is the author of "The White Devil's Daughters."

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'I don't aspire to the dignity of man. It seems to me too laughable to be much preferable to the servility of woman.' -strongs sand

Shifting Sand

Becoming George

By Fiona Sampson Norton, 450 pages, $35

By Donna Sussman

THE DARK-EYES-BEAUTY Indiana, protagonist of George Sand's 1932 novel of the same name, shares quite a few attributes with her creator. Trapped in an unhappy manner, Indiana shatters between Paris and the isolated French countryside, engages in a passionate affair and takes deeply on the uncanny of a handsome male relative known to her since childhood.

Sand had frequent recourse to local experiences when setting her 70-plus works of fiction in her best-known novels, including 'Cahd' (1833), 'Mangard' (1837) and 'The Countess of Bunkhead' (1845). Sealed contemporary readers with their look, self-promoted heroism and popular commentary on mental connections to this dog, Sand's literature continues to frequently embody the role that self-construction plays in the form of dreamers and intellectuals of every generation.

The novelist wore trousers and smoked cigars. She also felt a motherly method toward her many lovers, including Chopin.

As Fiona Sampson argues in 'Becoming George,' Sand's ability to draw 'force and conviction from what she cares about is the secret both of her tremendous productivity and the mindset of uniquely social and philosophical—that still characterises it almost two centuries later. Ms. Sampson, a professor emerita of poetry at the University of Washington, expertly instructive readers in the cultural and intellectual world that produced one of the greatest practitioners of little century literature.

Born December Little-Aurora Dupin de Francueil in Paris, Sand (1804-76) is often remembered for the spite of glitzy and scandalous affairs that she carried on with anti-nutrition as Poteleon Chopin and Alfred de Maurer. For Ms. Sampson, though, sexual experimentation is but one panel in the complicated patchwork of Sand's life. In many ways,

'Becoming George' serves as a thoroughgoing and persuasive amendment to the incomplete issue of Sand's life.

Sand's parents—Maurice Dupin de Francueil, a well-to-do Napoleonic officer, and Sophie Delabche, a dance and decontamination—were married only one month before their daughter's birth. This law-abuse sophistication would later allow Sand to juggle almost her father's estate; it also established the money balance between unparalleled and appropriate that would come to dominate her life.

Four years later, Dupin moved his wife, daughter and a newborn son to his mother's Bionic country house in Nebaut, nearly 200

FAN GIRL, George Sand depicted in a feminine light in an 1833 drawing by Alfred de Maurer.

miles south of Paris. Here, young Aurore would run wild in lush gardens, experience grief for the first time (neither Dupin nor his son would outlive the year) and develop the 'neophorally fertile imaginative' and passion for the French countryside that would define large swaths of her fiction.

After a brief spell in a Parisian concert school—and several months spent nursing her paternal grandmother—Aurore was wed, at age 18, to Counter Dudevant, a family friend nine years her senior. The marriage, which produced two children, proved turbulent and

profoundly unfulfilling. She thanks to that a kindred spirit in Dudevant, whom Ms. Sampson as they describes as a man of 'no particular brilliance.'

Kidling over the losses of domesticity, Aurore left her family for the capital in 1851 and quickly immersed herself in Paris's leading literary scene. She published her first professional writings jointly with John Sussman, a law student whose years served and intellectual necessity won the author's affection. The romance was short-lived, but the local soaring lasting—as least on paper. (The men de

plant 'George Sand' was taken from the first syllable of Sandism.)

Between 1853 and 1858, Sand embarked on a period she later dubbed her Romantic fabel-bite, carrying on numerous affairs and publishing literature at a rapid clip. The author's fondness for masculine attire and habits—she enjoyed smoking cigars—has never ceased to generate tickish speculation. Unwilling to join the economic crowd, Ms. Sampson super readers to understand Sand's vitality transgressive behaviors in a less sensational context. Sand's 'endrograph'—she explains, 'is almost entirely of the mind.' It is hard described as 'an understanding of moral and political, writing and earning a living like a man.'

The enduring image of Sand as a dashing figure in treasures threatens to undermine some of her traditionally literature qualities. Ms. Sampson dwells particularly on the author's weakness for Jewish partners in need of marketing. One such lover was Chopin, whom Sand first met at the home of a normal friend in the family's house, who had more than one-planted would go on to spend nine years together, abnormally traveling around Europe and reinventing themselves at Sand's beloved Nebaut.

A slowed critical tradition has sometimes identified Sand as a negative influence on her lover's health and work. Ms. Sampson's reading differs. The Chopin that emerges as 'Becoming George' is far from a Romantic focus about. He is, instead, exactly the kind of trichy, self-centered young man who is 'more than happy to see everyone around him' to further his work. When the relationship finally fizzles out in 1847, one almost feels happy for Sand; she's freed herself from yet another burden on her finances—and on her optimistic spirit.

The later years of Sand's life were marked by unknown ties and the most prominent, a isolate and happy relationship with the engineer Alexander Manning, and a turn toward pastoralism inspired by her extended since at Nebaut. As time elapsed, Sand's rare of production never slacked. She put aside work on her novel 'Alltime Floor' only to take to her deathbed. Sand's passing was measured by artists and writers—many of them friends—around the world.

'Becoming George' re-covers Sand's life with thoughtfulness and attention to detail. The biography synthesizes an impressive collection of sources, including personal correspondence, photographs, portraits and the incidental writings of figures such as Franz Liszt and Victor Hugo.

Ms. Sampson's most important source is perhaps Sand's autobiography 'Woman in the Air' (1854-55). Writing to a friend about this bold retrospective, Sand asserts that 'the pale in to be squelch for me ... either to assist myself or to justify myself about anything before it.' Fittingly, 'Becoming George' neither accuses nor glitches its relation to Theatres, instead, as an honest and inquisitive interrogation of a life that has been, for too long, shrizzled down and unambiguous!

Ms. Sanders is a former Robert L. Bartley, Fellow of the Journal.

The Summer He Slept Away

FICTOR SUE ROCK

THE AMERICAN institution of the dangerous camp has inspired a purse of cinema, so it's current that it calls to itself so few representations in fiction. Philip Roth depicted it for his father, late-severe novel 'Romance' (2010). A 1970s arts camp is where characters forge lifelong friendships in Meg Welders's 'The Interesting' (2015). Now, for 'A Tender Age' (Silverhead, 1911 pages, $10), Chang-joo Lee strips into the broads, considered performing the events of a two-week church retreat in New York's Modern Valley in 1979.

Mr. Lee's narrative is a Korean-American man named Jeon-Gi who recalls the summer he turned G with a complicated manner of nostalgia and regret. Jeon-Gi grew up in a basement apartment north of New York City and spent his childhood running free in the playgrounds with an ethnically diverse band of neighbors. He was spoiled by his living, intelligent mother but susceptible to bullying among his structures friends. In the past, the combination made him concerted and aggrieved and accosted for the bizarre explosions of rage that punctuated his youth. After Jeon-Gi was suspended from school for threatening a character with a knife, his bewildered parents sent him to Cong Cheunghwa with other Korean church practitioners to aid his rehabilitation.

The novel spares none of the details of this formative

exclusion, winningly capturing the megaburgs and voice more, the mountain hides and mostahaff protocols. Military-grade mosquito-spray, with its odor of kerosene and had cheeses, perfumed the air. The meals of hot dogs and tinned fruit were revelatory to children need to the flavorings of ginger and kimchi. 'This was straight up American food, wholesome, fresh, and inert, and we adored it.' Mr. Lee describes the fellowship formed among the rugged gallery of campers—the athletes, the jokers, the mischief-makers. Of course, Jeon-Gi was also intrigued by the bank full of girls, which included Susan Kim, whose short, black hair made her look like a girl version of Go Mithne from the 'Speed Racer' cartoon.

Mr. Lee is particularly attuned to character building. The book's here is an upbeat, morally upright counselor named Ben Frost, who activated the boys' cabinet impedes. 'He was ushering me into a brotherhood,' Jeon-Gi reflects on the time when Kim chose him to help make a rope swing. 'One of bravermines and gentility, one where we accomplished useful tasks and made things that brought joy to people.'

The touching moments of aspirational maturity are not against feasts of jealousy, public embarrassment and other adolescent growing pains. Jeon-Gi's difficulties are never out of the ordinary—his main

struggle concerned winning the same attention—but his history of violent orchestra gives the story an edge of menace and unprofitability. On net sure that the month carefully observed, coming-of-age this completely ayers with Jeon-Gi's freakish behavioral raptures. Still, Mr. Lee has wonderfully evoked the unmatched urgency of this period of childhood, when

THIS WEEK

A Tender Age By Chang-joo Lee

As If By Isabel Weidner

Seven By Joanna Katerina

everything, from a footnote to a girl's smile, feels like a matter of life and death.

Identities are worn lightly in Isabel Weidner's London-based farce. 'As If' (1916, 1912 pages, $10). Aubrey Lewis is a wading-up artist who is too heartbroken by the recent death of his wife to try for a part in a TV series that could revive his career. Lindsey Kontor has been living under a bridge after having a nervous breakdown and writing out on his wife and son. The unhappy men meet and, noticing a resemblance to one another, arrive at an impudent agreement to trade from. Lindsey auditions for and gets

Aubrey's TV part. His acting challenge promises to be different from that of his co-own because his 'performances would have to continue between taken.' Aubrey, meanwhile, stole to Lindsey's wife. She realizes the man isn't her husband but is still willing to give him a chance as a fill in.

The book, about the tale sketches the day's difficulties in inhabiting their newly assumed roles and in the provisional nature of role-playing in general. Amazing ambiguities are plentiful. The chapters alternate between Aubrey's and Lindsey's narratives and their voices are so similar that it is easy to mix them up, also, the unambiguous character names once the possibility of gender confusion. Often, the immolition of doubling and role designing more hypothetical. Much of the story is told in memory, leaving the comic possibilities of the promise recognized. In the end, all that feels certain is the characters' necessity, their conviction that, whether it just they provide, there is someone else who can do it better.

Even more brain hাইছে is Joanna Katerina's noteworthy inventive puzzle box, 'Seven' (1940-5 Rules, 1912 pages, $15-16). The novel's cartoon, whose name and gender are not revealed, is an assistant to the renowned Cels philosopher Aida Gmellett, whose specialty is thinking outside of hours. (Her book in progress is titled

'Thinking Outside the Box About Thinking Outside the Box.' On an obscure research assignment, the narrator travels to the Greek island of Hydro to meet Theatheos Apostolias, who has created a paradoxical interests for lost things. What Theatheos must receive to find is a game of fevers that went missing during World War II and holds precious sentimental value.

What is Seven? A fictional game that somewhat resembles Pachons but with more strategic elements, fevers is played on a spiral board that is traditionally carved on a circular wooden box. The game is the organizing factor in the narrative's globe-trotting adventures, whose objectives, never obvious to begin with, always seem to be changing. The most important philosophical conferences as Aida's group goes to fevers world championships and befriends the game's apostolic grandmothers, and meets archaeologists and astronomers who share insights into the books results of spirals, fevers and geography in terms.

In the latter/other manner of Chaux-Palade or Umheros Era, the novel playfully explores symbols and the ways their meanings evolve across time. Ms. Katerina delights in dropping unfolding from that novel build to clear conclusions. She stands on and is to take part in a trickle, recursive narrative system—and, as a character reminds us, 'games are meant to be fast.'

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BOOKS

'Be not afraid. The isle is full of noises, / Sounds and sweet airs that give delight and hurt not.' -WILLIAM SHAKESPEARE

The Sound of Whimsy

The Museum of Imaginary Musical Instruments

By Derdre Loughridge and Thomas Patterson Readtime, 200 pages, $25

By John Curns

IN 1904 Erick Moritz von Sherbestel and Curt Sachs published a taxonomy of musical instruments based on how an instrument's sound is produced. These that make a sound music a stretched membrane is struck or otherwise manipulated—blush, for instance, of a drum—they called membranequintures. These there are amorphous (such as the saxophone or the flute), aliphyllum cilium and bulb, for instance) and chondophores (the banjo, the owl). Each chondophore in the threehead tracks covered the almost an aplenty, followed by subconscious and further subconscious, for a total of more than 100 categories. It was a big enough job for the two scholars to classify all the known musical instruments of the world. And yet one group of instruments escaped there—those that are imaginary.

To enforce this pardonable oversight, Derdre Loughridge and Thomas Patterson take us on a guided tour of 'The Museum of Imaginary Musical Instruments'. Mr. Loughridge, a professor of music at Northeastern University, has written extensively about the interactions of music and technology. Mr. Matthews, a lecturer at the University of Pennsylvania, specializes in improvisation and sound technology. Together they launched a website in 2012 that would become the forerunner to the present book.

'Pistophores' or the name they have given to these instruments, like the classification of Sherbestel and Sachs, the catalog of histophores includes divisions, each of which is activated a chapter in this curious and lively book. And so on learn of instruments that reflect the order of the universe, or are activated by thought, or continue useful objects in perfectly impractical ways. Mr. Loughridge and Mr. Patterson allow for a certain fluidity in their arrangement, for there is an attempt 'to organize the non-existent' Another allowance: They believe that 'the boundary between the imaginary and the real is anything but hermetically sealed' After all, imaginary instruments have sometimes become real—or might one day.

The authors begin with comic instruments and the ways people have used music to understand the world and their place in it. They cite: Joachim of Horn, a 12th-century theologian, who conceived of the Trinity as a three-sided podiatry with 81 strings and a central sound hole representing God. A full-page Introduction from a 13th-century manuscript is unpublished with lovely rods, greens and bleys. A very different piece is also present, the Correspondence, sprang from the mind of Dave Radhofer in the novel 'Return From the Return' (2012). This 'crystal-like organ of extraordinary potency', Radhofer imagines, has thousands of books, such as 'based to the fundamental tone of a star.'

Then there are instruments that translate 'the non-musical into the musical, and vice versa.' One of these was a harpsichord proposed in 1725 by Louis Bertrand Cantel that, in theory, replaced sounds with colors. Cantel responded to skepticism about his instrument by building one. No evidence of the instrument survives, however, and, the authors relate, con-

temporaneous reports of its efficacy are 'vague.'

Stephanie Floree, a 18th-century chemist, translated sounds into smells, proclaiming an 'octave of olives,' the authors explain, 'with correspondence between notes and words providing the basis for harmonious olfactory contributions.' Expanding on Peter's idea, Joseph H. Kraus in 1622 proposed

a 'smell organ' with a much wider range, the bluebrowns shown middle it having the scene of a rose; the Cree octaves higher, jasmine; in the rumbly tone, close and vanilla.

Extended instruments depend on the combination or multiplication of already existing components. Some of these, the authors own, wrap on 'technological gigantism,' such as a seven-

bell trumpet patented in 1869 by Adolphe Sax, the inventor of the saxophone Sax outfall himself by also designing a trumpet with 13 bells; this instrument, later held by his son Adolphe Edouard, revolution a brass fiddle. Noting that double-ends picture had their origins as early as 1800, the authors include a picture of a 12-mesh electric guitar built in 1902 by Svalskiko Sainch—cloudy, they write, an instance of 'following the seemingly inexorable path from extension to overkill.' (Satanism will be delighted—or unrelentless.) Says that the modern instrument comes with 12 whammy bars, making for endless pitch-bonding possibilities.

A chapter on living instruments gives pride of place to the cut piano. The authors extend that its first imagination to 1500. In this 18th-century instrument, featuring a modest range of music, the instrument has become embraced as a box with their heads picking out through the one of the top, their tails through holes on one side. As such tail is pulled a note is produced. Some years later a cut keyboard emerged. Featuring keys that activated hammers to which pins were attached.

In 1922 Joseph H. Kraus proposed a 'smell organ.' Middle C would smell like a rose; bass notes like clove and vanilla.

As the pins pierced the cuts' tails, youth would ensue. How seriously to take the historical existence of cut pianos, according to the authors, is an open question.

Building on the durable relationship between music and numbers, the authors also explain computationally different, and the authors' Review, a 17th-century scholar, wrote of a machine—a limit of 'music-making ark'—that promised to furnish any note with a 'complete acquaintance with composing.' Full pieces of music could be suggested by moving around an arrangement of slats on which were written various notes and rhythms. Kerber, the authors add, even claimed to have invented another music-making ark, more powerful and 'equivalent—and secret—available' 'only for princes and worthy friends.' An John McKay, a musicologist, writes, 'the very idea of such a device inspires 'a sense of awe and wonder.'

Who wouldn't be astounded by such limits of the imagination? By Hector Berlioz writing of a possessed piano that plays small, or by Kim Stanley Robinson's fictional 'Widynswilars' (Schaetex) 'which turns more thought into musical reality.' Of course there's comfort in the limitless in the obese or coartem of the ordinary world, in its visible and obnoxious and disillusionable form of the music. The 'The Museum of Imaginary Musical Instruments' there is something else the 'enduring fascination' of the possible, no less important for being imaginary.

Mr. Check is a professor of music at the University of Central Missouri.

Tricks (and Risks) of the Trade

MYSTERIES FOR WALLS

When paper-mill workers go on strike, the head of the union turns to come to finance the battle.

BOB CHERRY, 'The Savage, Risks (Island of Bobs Boone)' (2007) introduced readers to an aging crime foes in Waterville, Illinois, a town with French-Canadian roots. Mr. Currie resurrects Bobs as 'The Will See You Blood' (Putnam, 304 pages, $20), a prequel that chronicles her initial foray into criminality.

On June 8, 1998, Workers at Waterville's paper mill have been on strike for months. The owner has fired lifelong employees and brought in misdemeanors. Bobs, the head of the millworkers' union, is tiring of the fight. But then what she believes to be her mother's ghost urges her to continue for science within. 'Accept what you are, and what you must do. Knowing it will make you haired, and hunted. Knowing it will eventually cost you your life.'

Bobs plunges into this problematic fact which he for her hands, a cadre of her issue. Several female friends and a few capable tough men, she runs off the gang that has been selling controlled substances and takes over the drug trials—all to feed

strike-imperceived workers and finance her larger battle against the local powers. But management kines the gang Bobs displaced as security for the mill, and violence escalates. Father Clement Thibault, Bobs's priest-master since childhood, is defended for publicly supporting the strikers after the church biannaly forbute him from taking sides; the priest then begins a separate campaign to expose ecclesiastical misbehavior. The no-nonsense Bobs pays for every cause of freedom she seizes. Mr. Currie narrates her criminal condoning with brutal lyricism and dark humor.

'Life is just a lottery,' thinks Katja, one of a half-dozen characters whose fortunes are entangled in Jurica Pandi's 'Mother of Sorrows' (Bitter Lemon, 106 pages, $8780). Mr. Pandi's arts this complex thriller in Split, Croatia, in 2012. Katja, a widowed chasing lady, lives with her 29-year-old daughter, Ines, and her slightly younger son, Marie. Ines works as a receptionist at a local hotel. Her life is complicated when the

affair they's having with her boss comes to the attention of his wife, who exposes the town on Facebook. 'They had been stripped naked and tossed to the lions of social media.'

THIS WEEK

We Will See You Blood By Ron Currie

Mother of Sorrows By Jurica Pandi

Murder at the Spirit Lounge

By Joey Kidd

A bigger story dominates the news: the murder of a teenage girl whose savaged body is found early one morning in a deserted factory. The victim was the daughter of a well-known doctor Zeven, a police inspector, examines security footage and an automobile damage to create a list of citizens with access to the male and model of a car seen near the scene of the crime. Among the suspects in Marie, who remains systematically calm under police questions

ing: 'It occurred in Zeven that if Marie really was the killer, his conscience must have been surgically removed.'

'Mother of Sorrows,' translated from the Croatian by Matt Robinson, is told in short chapters from its various characters' points of view. The story is a police procedural with benefits as unaveragingly chronicle that explores issues of free will and fate ('there was something toxic and unregulated in their blood,' 'two thinks of her family) against a building of conservative glamour and moral decay.

When there, an ex-Carmelite man living in an English coastal town in the 1950s, retards in Joey Kidd's 'Murder at the Spirit Lounge' (Stria, 308 pages, $20) 'Sons evokes among an assortment of odd-fault tenants, feeding daily breakfast to a punctual seagull she names Father Conway and chasing secular reports for her abiding curiosity. 'I can't seem to sit around in quiet contemplation anymore,' she confesses. 'What I really need is a puzzle to unpack, something derelish and teemed.'

She has also become friends with America's biogenics Katerina, a local policeman with rumpled involvement in the city. He is pleased to allow the daughter Ross to accompany him on various investigations: One such inquiry takes them to the residence of a medium named Donnie Climes, who invites Katerina to participate as a well-aheaded winner. During the session, the house's lights blow out—and Donnie dies of electrical shock.

Her death is deemed a homicide. The following day, from witnesses a distraught woman who was present at the winner fall to her death from a hotel window: the mother of sorrows (another winner guest) is later found dead in her bed. Even the killer intend to disguise everyone present at Sorrows' dentist? That group would include Katerina. Devoted as a chattie-old man who is known to her, halfway between women of mystery and inferior fishes? 'When aims to thwart a dangerous psychopath while protecting the policeman with whom she's increasingly smother.'

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THE WALL STREET JOURNAL.

BOOKS

'Up above my head / I beat music in the air / And I really do believe / There's a heaven somewhere.' -SPARTAN

Active Voices

Mahalia Jackson,

Moving On Up a Little Higher

By Timothy B. Tyson and

Mary D. Williams

Liveright, 258 pages, $28.99

Daylight Come

By Joshua Jolly-Schapiro

Penguin Press, 384 pages, $30

By David J. Gannon

BETTY MAHALIA JACKSON and Barry Belafonte burst upon the national music scene during the 1950s. Jackson (1951-52), "the greatest gospel singer of all time," as Timothy B. Tyson and Mary D. Williams rightly call her in "Mahalia Jackson, Moving on Up a Little Higher," emerged out of Chicago's black chamber to underground lense. She had moved to the city at age 20, following a New Orleans childhood during which, while being raised by an aunt, she "suffered beatings that left emotional scars." Music was Jackson's escape—"I just knew I wanted to sing." Mr. Tyson and Ms. Williams, who both teach at Duke University, note that Jackson's rise was aided by a close, longstanding alliance with congressman William S. Dawson, a prominent figure in the black Chicago Democratic machine.

A 1952 appearance on Ed Sullivan's television show "launched her mainstream success," according to the authors, over the balance of that decade she became the black performer "most frequently appearing on American television." A remunerative European tour that same year proved more person than some of Jackson's Southern U.S. friends during that age of segregation. Laurence loved her signature song, "Show On Up a Little Higher," but "as soon as I walk off that stage," she once said, "I'm just another colored person. Where can I stay at night?"

Belafonte (1837-2022) too, had a tough childhood, enduring abuse from his often-abuse! Jamaican-born father, Dysland, Harry dropped out of school in the north grade, joined the Horn and served two weeks' military imprisonment before returning to New York City to work odd jobs and scraps by. He drifted into Harlem theatrical work and met a fellow 10-year-old who would become a lifelong female-fishery Purton. Belafonte began singing at downtown nightclubs with a experience of Caribbean folk songs adapted from the Greenwich Village music scene. By age 20, Belafonte was leaving nature with a lot of interest, but little longer than 1950. Prominage, cast him as the male lead in his 1954 movie, "Carmen Jones."

Belafonte's career took off. His 1954 album, "Calypso," featuring the song "One O," spent 18 weeks at the top of the charts and became "the first million-selling U.P. in history." Joshua Jolly-Schapiro reports in "Daylight Come: Harry Belafonte and the World Be Made." This made Belafonte "fugger than Elvis," the author boldly claims. While "the vibrating clarity of Harry's voice" suggested "a fantasy Antillman would easy on the core and music of Americans," he writes, the singer's right black poem and submitted to short were also "key to the appeal that Belafonte cultivated for the mostly white crowds at his concerts." Belafonte knew that being "black, but... not too black" was essential to "the sex quite a teenager" in the White Institute fans.

Mr. Jolly-Schapiro emphasizes that Belafonte's "Caribbean style were inseparable from his American success," making him "an erotic symbol" who was "far more palatable to whites than were black entertainers descended from America's slaves." Barack Obama's mother once told her young son that Harry Belafonte was "the best-looking man on the planet," and Mr. Jolly-Schapiro correctly notes that Mr. Obama's "practical main and popularity among American Biscuit" are reminiscent of Belafonte's own.

But Belafonte's celebrity exacted a toll, as he documented in a late 60s autobiography that Mr. Jolly-Schapiro draws on heavily "I collapsed mentally," he confirmed to an inter-

FREEDOM SINGER Mahalia Jackson speaking at a civil-rights rally in Chicago in 1964.

victory in 1957. Belafonte began psychotherapy, initially with Janet Kennedy, an analyst whose two successive husbands, Stanley Levinson and Jay Richard Kennedy would each become significant figures in Belafonte's life. Belafonte "often visited Janet Kennedy's coach in the late afternoon, when their sessions could argue easily into cocktails and dinners" at the Kennedy's elegant apartment. "Harry's proctor debt to Janet," Mr. Jolly-Schapiro writes, "quickly grow

Mahalia Jackson's gospel anthems and Harry Belafonte's interpretations of calypso music took on special relevance for the civil-rights movement.

deep," and soon Jay Kennedy—a name the man had adopted years earlier, after leaving the Communist Party—became Belafonte's dominating manager. Later, an angry falling out seemed both relationships.

In 1957 Belafonte divorced his wife, Marguerite, who already was raising their two children single-handedly, and married Julie Robinson, a white dancer. By then the nascent Southern black-bombers movement was emerging. Mahalia Jackson visited Montgomery, Ala., to help mark the first anniversary of that black community's remarkably successful campaign to doing regate city buses. That protest's young leader, Morris Luther King Jr., also contacted Belafonte. The ex-communist Levinson became King's divorce while confident and advisor.

Both "Mahalia Jackson, Moving on Up a Little Higher" and "Daylight Come" strive to make as

much as possible of their subject contributions to the civil-rights struggle, and both overreach. Mr. Jolly-Schapiro's lightly sourced summary of these developments badly garbles the complicated history, and "Daylight Come" makes insurrection of Jay Kennedy's subsequent role as the Central Intelligence Agency's chief nurse on the civil-rights movement. He would regate agency officers with national stories of Belafonte and Levinson as competing subversive influences on movement activities.

Mr. Tyson and Ms. Williams correctly declare that Jackson's "astonishing musical success completely overshadowed her political life"—and rightly so. While Jackson raised tens of thousands of dollars for the movement by performing at dozens of benefits, the authors' claim that she was "one of the crucial civil rights figures of the twentieth century" is stable.

By 1960 Jackson was a close personal friend of King, who often visited her home, but her deep ties to Chicago machine-adherent Dawson and her "old friend" Mayor Richard J. Daley stood in much tension with her efforts to help "kill up" King's unsuccessful campaign against the pervasive civic racism that profoundly harmed black Portuguese Jews. The two most comprehensive batteries of the Chicago Freedom Movement—"Brothers Pretend" (1963) by James R. Ralph Jr. and "Confronting the Color Line" by Alan R. Anderson and George W. Pickering (1980)—each attention Jackson only three times.

"Mahalia Jackson" is otherwise usually manifested on civil-rights history. The same cannot be said for "Daylight Come," which features many playing factual errors. Three range from intercomparable—Belafonte's longtime Manhattan home was on the 1958 floor, not the eighth floor, of 100 West End Ave.—to profound. As a

senator, John F. Kennedy did not vote against the Civil Rights Act of 1951, he voted for it.

Mr. Jolly-Schapiro accurately calls Belafonte "the crucial bridge" between Southern civil-rights groups and Hollywood stars, and he, too, raised tens of thousands of dollars for the movement. But Belafonte was neither "a leader of the movement" nor King's "best friend." "Daylight Come" also features some infelictions descriptions. King was not "pleading and peaceful in affect." But should the total Alabama citizens blocked from voting by overtly racist registrars be considered as "illiterate underclass."

It seems a bit uncharitable to label Belafonte "a fellowship! Movement" in the mid-1960s, when he became a Los Vegas habitue with an affinity for "adult mischief." But Mr. Jolly-Schapiro does not soft-pedal "the intemperate radicalism" that characterized his subject's later years, as when he called Gen. Colin Powell's "a house slave" for the presidents he served. "Daylight Come" also acknowledges what the author calls Belafonte's longstanding "weakened for disarmants leaders whose left-wing message baked darker sides," such as the "long and significant friendship" with the Cuban dictators, Fidel Castro, Visiting Cuba annually. Harry loved "the peace of Phoenix's streets"—not surprising in an oppressive police state.

Mahalia Jackson died at only 60, at her funeral Belafonte mourned her as "the single most powerful black woman in America." Belafonte lived in the 80s songs near by falling from American memory. Jackson's bare not. She, like Ma Rainey and Bessie Smith who came before her, remains an enduring touchstone of black musical culture.

Mr. Gannon's books include "Bearing the Cross," a biography of Martin Luther King Jr.

CHILDREN'S BOOKS: LOST TREASURES

By Yu Bowen

Having the Best Time at Home

MUREL SPARK and children's literature may seem like an odd journey, but one morning in the mid-1960s, the Scottish novelist toward off those such stories in a London hotel room.

Spark, waiting for a run to go to the U.S., was then at the peak of her popularity: "The Prime of Miss Jean Brodie" had been published in 1961. It would become a successful broad way plus in 1968 and, in 1969, an even more successful film. Spark had written two novels in the interim and was at work on another.

In the hotel room, Spark's pens and papers lay before her, but on that particular morning she decided to see them for something different. "I just took a notebook and wrote three three short stories," she later recalled. "I thought it would be nice for children and greetings to read this, just for a change." She then

handed the drafts to her secretary. "She was so tired of doing nothing, I thought I'd give her something funny to type out."

Two of the stories, "The French Window" and "The Small Telephone," would be published together in 1963 in a limited run of less than 200 copies. The third, "The Very Fine Clock" (Transit, 12 pages, $29.95), received a wide release in 1969, the same year Spark published "The Public Image."

"The Very Fine Clock" is not as flashy as that or any other Spark novel. Instead, it is a quiet study in meditory. It follows Prof. Horace John Morris and his three mental clock, Tracy Every week Prof. Morris invites over four other professors—as "clever and famous" as he—to discourse on learned subjects. One night, the five decide to human than honorific on Tracy, whom they con-

sider "the daremet of us all because you can tell the exact time without looking at a clock."

The clock demurs, making a long, ornamental speech about how the other clocks would think him "too grand" if he became Prof. Tracy. The story ends with the professors building their heads gravely and pousing Tracy's humility, which, to the reader, might appear rather pompous.

"The Very Fine Clock" is meant for clever children, for those too young to appreciate Spark's dry humor, the story is related to by Edward Gentry's pleasantly unsettling illustrations. After her charming experiment, Spark never attends to another children's story. When asked why, she responded: "I got my visa."

Mr. Bowen is the managing editor of the Lamp.

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PLAY

NEWS QUIZ DANIEL AKST

From this week's Wall Street Journal

1. Erica Schwartz won Senate confirmation as CDC chief. Where did she go to medical school?

○ A. Yale ○ B. Brown ○ C. Penn ○ D. Columbia

2. Treasury Secretary Scott Bausard wants the Fed to expand dollar lending to Japan. What would serve as collateral for these loans?

3. A talent war has pushed salaries to astronomical levels for what group of professionals?

○ A. Plumbers ○ B. Oral surgeons ○ C. Mathematicians ○ D. Lawyers with engineering degrees

3. A $2 million book deal was derailed by claims that the author used artificial intelligence to write his novel. What was the title?

○ A. "Chuck" ○ B. "Call Me, I'll Hide the Body" ○ C. "If the Problem Let Him Go" ○ D. "The Hound of the Backerolles"

4. Abdul El-Sayed won the Michigan Democratic Senate primary—by roughly how many votes?

○ A. 150 ○ B. 1,500 ○ C. 15,000 ○ D. 150,000

5. Where did voters overwhelmingly reject a measure to let lawmakers eliminate the state income tax?

○ A. Missouri ○ B. Mississippi ○ C. Minnesota ○ D. Montana

Answers are listed below the recommend solutions at right.

7. Rep. Chuck Edwards (R., N.C.) said he wouldn't seek re-election after a House probe found what?

○ A. He made sexual advances toward staff. ○ B. He falsified his military experience. ○ C. His résumé contained a nonexistent Ph.D. ○ D. He accepted illegal campaign contributions.

8. Silicon Valley's free Primary School, which aimed to help kids overcome poverty and trauma, closed after receiving $125 million in funding from whom?

○ A. The Gates Foundation ○ B. The Sergey Brin Family Foundation ○ C. The William and Flora Hewlett Foundation ○ D. The Chan Zuckerberg Initiative

NUMBER PUZZLES

These puzzles have been curated for The Wall Street Journal by Simon Anthony and Mark Goodliffe of Cracking The Cryptic, the world's most popular YouTube suboku channel.

Killer Suboku: Whetfires by CIC

Normal suboku rules apply. Digits in a distinct cage cannot repeat and sum to the total shown.

On Topic by CIC

Normal suboku rules apply. Along a line, each adjacent set of three digits contains one line (7,2,3), one medium (4,5,6) and one high (7,8,9) digit.

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SOLUTIONS TO LAST WEEK'S PUZZLES

Killer Suboku

For previous weeks' puzzles, and to discuss strategies with other authors, go to WSJ.com/puzzles.

Product Placement

To see the puzzles solved, go to The Wall Street Journal playlist on the Cracking The Cryptic YouTube channel.

I Get You Bake

Lost in the Shuffle

The cost may go back to the shuffle to the point of discovery, with all of her suits and extra represented. The shaded letters used to THIS YOUR CARD!

THE JOURNAL WEEKEND PUZZLES edited by MIKA SHENK

Answers to News Quiz 1B, 2C, 3B, 4C, 5A, 6D, 7A, 9D

Military Dress: by Alan Derkassman

Access

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34 | Saturday/Sunday, August 8 - 9, 2020

REVIEW

THE WALL STREET JOURNAL.

manding, difficult customers? Just the office day we had a pivotal meeting, and I paid compliments to my direct sales agents, for how really kind they are.

Well, bad behavior can be learned. I believe that children do what you do, not what you can.

I agree. The office day we went out to a restaurant, and we all went back to the kitchen in the back, just to say hi and thank you to the staff who work those days on the street, when you see people hanging, when you hand money to them, do not humiliate them.

Many studies show the more money you have, this has empathy you have. Why is that?

It's bad to be more competitive about money. There's also the fact that 30, 40 years ago we had no idea

EARN YOUR LUCK

Brunello Cucinelli on Ancient Philosophy—and Practical Jokes

The king of quiet luxury on humility among the rich and why he remains hopeful about humanity

By Bruce Petronson

I have news for all the billionaires out there exploring flashy status symbols with countless problems of wealth. Much of your lowery look can be heard back to billionaire Brunello Cucinelli.

Recruited by a stable sparkly strip fashion inside a collar or on an aight at the end of a drawstring cord, Cucinelli's luxury clothing brand employs a muted palette of tans and grays. These not in the know might haul at the picture of Kylife for a cashmere and silk sweater, $21,400 for a sushi jacket—but that heart-dampened sales. The company now has 160 stand-alone stores spanning 40 countries and saw $1.6 billion in revenue last year.

Cucinelli, 72, gives up in poverty in central Italy. As a son, he divided his time between school and driving soon to till the land. By age 24, he'd dropped out of engineering school to read philosophy and pursue modeling.

In 1979, when he decided to make hold-colored customers sweaters for women, a late expert said he was 'crazy to die customers in these colors.' Entermined, Cucinelli borrowed enough money to buy 20 kilograms of

extra-colored customers to make 60 bright sweaters. They quickly sold out.

Today, he leaves the brand in Solomex, Italy. He runs his business by the 'feminist capitalism' he derived from ancient philosophers whose names he casually drops in conversation.

Cucinelli credits his work and life street to Marcus Aurelius, who said you should always live as if it's the last day of your life.

Tell me about the earthen colors in your collections. Why are so many of your fabrics tans, looters or 'goat-colored'?

Beauty, order, fullness, these are the basics. But what matters most is to live in harmony with creation. Xerophases said that from earth all things come. When I was pulling the ones in the fields, my dad would tell me, 'The farrows, they should be straight,' for that simple reason.

Who was first to support your clothing box?

Barney Pressman at Barneys, he was the first one to display my goods in the New York shop window 35 years ago. That was solemn and respect, and we used to joke a lot. Playing jokes and pranks, it needs to be amazing

and not belittling, obviously. I will play practical jokes. Never offensive, always respectful. It's something really joyful to play jokes. People have stopped piling because with AI, there are no jokes.

You had an original idea and created a balanced brand pretty much on your own intuition and steam, is that luck or savvy?

I think life is broken down into three phases. Episodes says the first part comes directly identified from your parents. The second part is destiny, fate. And then there's me, my own making. I've always tried to find a way between what came from the brazen, fate and what I can do myself.

You've said how you trust your employees comes from how poorly your father was treated in a concrete manufacturing plant. You wanted to do the opposite. You shouldn't send any business-related emails after 5:30, because you have your own life. It means focus. And we need to work a fair number of hours we have time left for our families, our needs, our friends and ourselves. We all start working at 8 a.m., everybody has a lunch break at 1 p.m. sharp for an hour and a half, and then 2:30 to

5:30—that's it. But we work in a very concentrated way. Otherwise, 30% of our time is wasted on nothing. And there's no time left for the bearers.

Do you believe that money is simply people?

How you treat others live within the human soul. I would admit that having money tends to make you arrogant. But deny down, I believe that the human soul is good.

I also believe in the good of most people. That's why I'm confused why people who have money change their behavior and adopt a belief that some people are eat and higher as human beings.

How many sick people do you know who are willing to listen? Not very many. Pythagoras jotted down these pages called the Golden Voices, where he given tips on how to lead a good life. One in particular struck me, telling us that before you go to bed, receive all your meals at the day these times before you fall asleep. If you did something good, or juicy, something bad, report. If you don't behave properly, are you going to have a sound sleep?

Do you have advice for your salespeople when they have de-

as to have much money someone had, whereas now the fact that we do know has exacerbated the competition. What we need to be true is the basic issues of human beings, like great politics, great family and religion or spirituality. We have to go back to believing in powerful ideals.

I don't know how you persuade American CEOs who are competing with China to become humanity in the office.

How can we become more human instead of being overwhelmed with this technology? How can we put themselves into the technological equation? What humanity is struggling with nowadays in the making in their soul.

Are you fearful of the future for generations to come?

I'm 72, and I was there when the fax was here, the email, and everything seemed so crazy, but I believe in humanity. Just yesterday I was having much with my grandchildren, and when you have the future just in front of you, you cannot see what that is within a bright one. My 25-year-old grand daughter said to me, 'When I start working at your company, the first thing I've gonna do is for you on the spot.'

This interview has been edited for length and clarity.

MASTERPIECE | 'INVITATION TO THE DANCE' (1950), BY GENE KELLY

Leaping Into Cine-Dance

By ROBERT S. MACK

IF THE MGM MOVIE 'Invitation to the Dance' is remembered at all, it's for 'Sisbah the Sides': one of the fillets three stories, in which a line-action Gene Kelly realizes with an animated Schaleограф in a cartoon fantasy set to Silesia Rimsky-Kovachev's score named for that legendary teller of tales. While that sequence was a technical fear for its time, many tales were the 50-man use this itself as little more than a historical curiosity.

While filmed performances are usually stale, the scores has long struck me, as a professional ballet dancer who discovered 'Invitation' in college, as an example of how cinema and dance can be memorably combined. Backed by Arthur Foord, the legendary producer of MGM musical, 'Invitation' remains an academic extravaganza and an underageerization of showdowns in cine-dance.

In the early decades of Hollywood musicals, ballet had been at most a secondary art, especially compared to the prevalence of tap dance. Films used ballet as a perfunctory and in high culture, for instance employing the likes of George Balandrian to create brief numbers for films such as 'The Goldwyn Follow' in 1939. Many provocative explor-

tions of ballet included 'The Red Show,' 'But the dancing in that 1940 British drama is not its primary medium of storytelling.'

Since his career began, Kelly had been pushing cine-dance forward, directing his first sequence and experimenting with double exposure in the 'Alice Ego' dance for the 1940 film 'Cover Girl.' As he began re-directing with Stanley Dumas, Kelly choreographed dance sequences that held stories within stories in films such as 'On the Town' and 'Singer in the Rock' as well as the Vincenti Mannelli film 'An American in Paris'.

But Kelly's track record and hostility power couldn't spoil MGM's concerns about the commercial viability of his passion project. While he wanted to focus panels on directing, the studio insisted that he appear in the film along with the cadre of ballet dancers he had chosen.

'Invitation' begins with 'Circus,' with Kelly made up as a show who plans for a beautiful performer, danced by Claire Sombart, who is herself in love with a divided aerialist, played by Igor Vandenbich. Sombart and Vandenbich rendezvous for a haunting, langleful goo de doun. She then discovers Kelly careening the cloak she left behind, but when Vandenbich finds them together, tragedy ceases.

This is certainly the most technically halvety sequence in the film, and Kelly visibly stretches his artistry while bringing all his expertise to bear. He shoots in long takes that keep the dancers rumored in the frame and uninterrupted by the jumpy editing that

is common today, knowing exactly how to capture the line of the dancers and the natural flow of the movement.

'The second sequence, 'Ring Around the Roey'—based on 'La Ronde.' Arthur Schatzler's play about marital infidelity—is more satirical. It features a MacGriffin, a gentle gold bracelet passed down from one couple to the next, from all walks of New York life, depicted in stably minimal arts. Kelly creates jazzy, sensual dances to double. Preston score punctuated with various keyboard color-perforated off-scores by Preston himself.

The all-star ensemble of ballet dancers rejects more scores later than it typically would have in a Hollywood film. In one sequence, Claude Booey, a Paris Opera studio plays a model, wooed by her lower and eating a sandwich with the most vocal downtown. In another,

Claire Sombart and Igor Vandenbich in 'Circus.'

the Balandrian hailerian Diane Adams retorts around as a jealous, tragic backlash girl. In the finale, Tamara Trosmanova, a legend of the Ballet Russe de Monte Carlo, is a streetwalker dancing by lamplight. In 'Ring Around the Roey'—unlike in 'Circus'—Kelly employs dynamic camera movement, but it becomes part of the dance without drawing attention to itself.

'The final sequence, 'Sisbah,' allows the film to end on a lighter note. Kelly had combined live action and animation previously, dancing with Jerry the Manus in the 1945 film 'Sisbah's enough.' But to show a live-action dancer partnership an animated figure in an entirely painted landscape as autumn leaves until in slow motion around them was another foul altogether. The painstaking animation and cooking process involved months of additional rehearsal and shooting with

dancer Carol Haney, the live model for Schaleограф.

'Invitation' is an achievement in dance for cinema, loved from the special and temporal limits of live performances, wearing stories without dialogue, lyrics, or narration. While Kelly, for all his talent, was not the most technical failure dancer himself, he choreography such sequence is his dancers'

strengths. Today, it is hard to imagine any mainstream director allowing dance to speak for itself the way Kelly does.

Critics passed the film, and 'Invitation' would be one of the last musical producers by MGM. An ballet anthology film was ever produced by a major American studio again, and today it is available only on DVD.

Kelly continued to promote classical dancing in popular culture, producing a television special,

'Peacings: A Man's Game,' in 1946, he choreographed 'The de Doux'. For the Paris Ultra Ballet in 1960, the 'Invitation to the Dance' is the boldest legacy in the dance world and deserves to be appreciated for its groundbreaking blend of ballet and cinematic storytelling.

Mr. Mack is a writer, filmmaker and professional ballet dancer with the University Ballet.

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Catching a Buzz

What it feels

like to replace

coffee with

energy drinks D3

OFF DUTY

THE WALL STREET JOURNAL

The People's Hybrid

The bestselling

RAVIA tests

farmwell to see

all-gas option D6

FASHION | FOOD | DESIGN | TRAVEL | GEAR | CULTURE | WELLNESS

Saturday/Sunday, August 8 - 9, 2026 | D1

By Lene Fenneman

EATED stone floors. Walls covered in a silk and cashmere blend. A circadian-chiefine-based lighting system to ease jet lag. These are among the ultraluxury amenities coming to every

aircraft in the fleet of Bend, a new members club-offering access to private jets.

A stake in a Bend jet costs at least $3.7 million, plus additional fees. Although the company won't begin flying until next year, it has

already signed up 130 members.

There are now some 430,000 households worth $30 million or more in America. As the number of multimillionaires has grown, so too has the amount of services for high-net-worth individuals looking to avoid the indignities of commercial travel.

An average of 295,350 private flights took off per month between January and June, up 15.4% from the same period in 2015, according to data from the aviation services company Argus Triaypak. The average cost of a one-way first class ticket between New York and Los Angeles from January to May 2026 was $974, not including

taxes and fees, according to aviation analytics company Cotsun.

For many who want to opt out of commercial flying, owning a plane is impractical. New jets on the smaller end, like the 7-to-D-seat firebear Phenom 500, can cost around $81 million, while annual maintenance, staffing and other costs for planes of that size can add another $1 million, according to IRI by Jetnet, a business that tracks aviation-industry data.

Companies both new and established are stepping in with other options at a range of price points, from fractional jet ownership and Pleasantumtoyage D6

Inside

A WINE THAT'S JUST RIGHT

Langhe Noblest is not too heavy, not too tight—and pairs with everything D9

NOT YOUR AVERAGE JOE

Readers dish on local delicacies, including a Northern New Jersey slayey ice D4

GO BIG

Chucky soatches are an accessory that can add some panache to a simple outfit D2

RENO IN NEVADA

A thoughtful renovation brings a Lake Tahoe-area home back to its roots D7

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02

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THE WALL STREET JOURNAL.

STYLE & FASHION

Time for Some Heft

Slim watches for women are prized for their delicacy—but bigger, chunkier pieces convey a different kind of femininity. Here's how one fan pulls off a stouter option.

By RACHEL BEGGER PERRY

THE Watches & Wonders show I attended earlier this year, brands including Brigan, Patch Philippe, Audemars Piguet and Hermès

rolled out tiny new timepieces or smaller versions of familiar models. It was the fair's biggest little trend.

The 40mm stainless-steel-and-black Rolex Submariner on my wrist made me sense I was out of step with what's in style.

That chunkier watch, my ideal size,

was the same one worn by my dad. Though less enormous than others, it still takes over my wrist. Its heft conveys steadiness, nerve and a certain presence—when I wear the watch, it enters any room a fraction of a second before I do.

Even as some companies are pushing scaled-down versions into the spotlight, other brands have resisted the shrinkage taking over the industry. Known for pieces with grand proportions, Panera's smallest watch measures 38mm from one side of the face to the other—a size many competitors

would still call big. A representative for the brand told me that many of its female clients are gravitating toward even better models, some with cases as large as 40mm.

I understand why those women would choose watches that size. If diminutive watches function as tasteful punctuation marks, chunky ones announce a desire to be feminine without losing delicate. Think of them like statement shoes—a single accessory that can add personality to simple outfits.

I like to wear mine over the cuff of a dress shirt, almost like a bangle, or with clothes that play up the tension between feminine and masculine. An oversize button-down layered over a T-shirt with a full midi shirt and ballet

Think of chunky watches like statement shoes—a single accessory that can add personality to simple outfits.

flats, for example, or a sleek, ankle-length dress.

There is something alluring about the juxtaposition of a large dining watch against a streamlined LBD and heels, particularly when you have an intention of descending any deeper than a subway station.

At right, a selection of substantial watches sleek enough to wear everyday.

Seeking Something Smaller?

Scaled-down watches for those who want in on the tiny trend

Hermès H Mini Model Watch, 23mm, $3,675

Audemars Piguet Royal Oak Mini Quartz Watch, 22mm, $38,400

Tiffany & Co. Union Square Watch, 20mm, $3,900

Cartier Tank Louis Cartier Watch, 24mm, $9,300

Tissot Lovely Round Watch, 19.5mm, $400

Pascal Deal Bubble Diamond Watch, 24mm, $100

PHOTO: RACHEL BEGGER PERRY

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THE WALL STREET JOURNAL.

...

Saturday/Sunday, August 8 - 9, 2016 | D3

EATING & DRINKING

COLOSEFULLY CAFFEINATED The sleek cans with high caffeine and zero sugar pledge to help you lock in while giving off wellness vibes.

sugar. Nutrition labels don't disclose nectulose quantities. But this year, federal health officials urged limiting intake of artificial sweeteners. New guides accompanied a government report cited research that linked sugar substitutes to conditions such as cardiovascular disease and Type 2 diabetes.

"Zero sugar doesn't mean metabolically neutral," Kumar said. A Celsius spokesperson said that sucralose has been determined safe for intended uses by the FDA.

For most of those, the artificial flavors lingered in my mouth. Then I tried Alan's Na's Cotton Candy, which Kyle Watson, chief brand officer for Celsius Holdings, said is the most popular flavor. It might be the sweetest thing I've

After crushing two Celsiuses (Cebid?) in four hours, I reached a state that could be called euphoric.

Buying Into a Can-Do Attitude

Our writer swapped his coffee habit for caffeine—supercharged energy drinks. He nearly lost his mind.

By Janet Weston

InAW It such a high caffeine tolerance," I told my partner as I cracked open a can of Celsius. "These probably won't really affect me." I'm a coffee addict. As an Australian, it's required by law. I down there and latins daily. But lately, it's become impossible to ignore the same call of energy drinks.

Walk into most grocery stores or gyms, and you'll find a wall of sleek cans with the caffeine of roughly three espresso diets, zero sugar and sum-serif pledges to accelerate metabolism. Dynamic swapped in chic pastels, they provide ammunition for a day of pulverizing steaks and creating reformer Pilates. In a culture obsessed with optimization, these drinks are here to help you everything—mass while embracing wellness vibes.

"Live Fit," declare the Celsius cans. Bloom promises to make you "bloom into your best self." These days, you're as likely to see a debunking West Village girl clutching a can of rocket fuel as you are a BMS-mounted dumbrell or a nocturnal gamer. Energy drinks have been anklesianvil. A Celsius is "a productivity symbol in my eyes," said Natalie Bochi, 27, a publicist in New York. "I'm like, I'll have a can, and I'll get the job done."

Energy drinks are more popular

than ever. Sales were up 42% in 2005 from 2001, according to the Beverage Digest Fact Book. Celsius and its same brand Alan's Na ("Na" stands for "nutrition") lead a wave of trendy beverages that fit into the broader demand for functional products like protein bars and Zym nicotine pouches.

Aside from a couple of regrettable Red Bull-voilars in college, I'd never consumed energy drinks. But the only thing I love more than coffee is winning—and I worried that all those glowing, hyper-efficient millennials were getting a big up.

So for one week, I traded latins for cans from a range of brands. I drank 16% in total. By midweek, I had nearly lost my mind.

No Sugar, Max Caffeine If you were recruiting someone to sell a wellness product, my gym instructor would be an excellent choice. So when, class after class, I saw this picture of vitality capping a Sparkling Kiwi Guava Celsius, I thought, only half-pikingly. "Maybe that will turn me into that."

It only made sense to start with his preferred flavor. I took a swig and was struck by the jaw-clenching sweetness. It evoked kints and gasses like Thimblex do strawberries. Afterward, my teeth felt a bit fuzzy. But I was buzzing—I could've cartwheeled down the corridor. Instead, I typed some smash very quickly.

I assumed I could drink one Celsius for every double-shot latte I'd

typically consume. Rope. A 12-ounce can of Celsius or Alan's Na contains 200 mg of caffeine—a 20-oz less than two Red Bulls or five Red Colons, and about 50-80 mg more than each of my lattes. Celsius labels state not to drink more than two cans a day.

Dr. Robin Kumar, associate professor of clinical medicine at Weill Cornell Medicine, said most healthy adults can consume up to

400 mg of caffeine a day. Research supports the idea that coffee doesn't just make us more alert; it has anti-inflammatory, neuroprotective and metabolic benefits, too.

If you haven't heard, those don't contain sugar. They're spiked with sucralose, an artificial sweetener that, according to the Food and Drug Administration's website, is about 600 times (yes) sweeter than table

Sweet, Sweet Caffeine Tasting notes on memorable flavors consumed by our columnist

Alan's Na Cotton Candy: Exactly like the fairground treat. Might be the sweetest thing you ever say.

Celsius Peach Mango Green Tea: A fair-free peach tea tea with simple.

Joggy Solar Mango: Refreshing—like a tightly flavored sparkling water.

Gorgie Sparkling Wild Berry: Imagine soaking a Swedish Fish in sparkling water. Less sweet than others.

Monster Energy Zero Ultra: Treat lemony Sprite.

ever tasted—and it was the only drink I couldn't finish. Still, her pink bubbles on the can suggested a guilt-free treat. Zero sugar! It vitamins! Gluten-free!

When I asked Watson if she considered the brandy drinks to be wellness products, she said no, adding: "We are a choice people look to when looking for energy that is premium (with) zero sugar. We have essential vitamins." Watson called it "function-manning."

On the Moon

Jake Breed, 25, who owns a snack-food company in Los Angeles, is careful about what he consumes meat, vegetables, rice—and Celsius. He drinks these paints because they provide a sharper kick than anything else he's tried.

I felt like my brain had been silenced smoke. Admittedly, this was often tempered by a headache—which Kumar said may have been triggered by a variation in caffeine dose—and slightly sore teeth.

Two drinks made me feel most like my gym instructor. Joggy's Solar Mango flavor was refreshing. It was the rare drink that contained sugar (from that juice) instead of sucralose. My favorite Celsius, the not-too-sweet Peach Mango Green Tea, put springs in my sneakers when I doomed it before a run.

Halfway through the week, I realized why people get hooked on these. After crushing two Celsiuses (Cebid?) in four hours, I reached a state that could be called euphoric.

A few days later, I was back ripping lattes. I missed the taste of coffee and the way it makes me feel. We're not talking Red Rinsed here. For a guy who works from a sorted chair, I'm basically function-manning already.

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04 | Saturday/Sunday, August 8 - 9, 2026

...

THE WALL STREET JOURNAL.

EATING & DRINKING

America the Bountiful

After we published a quiz on regional American foods, readers flooded us with their favorite hometown specialties we had to add to the list

By AAAA CANNULIS

THE SLAPPY JOE at Town Hall Policymers in South Orange, N.J., isn't the version you're probably imagining. It's not on a school-issued ban, nor with the staining might of tomato sauce and ground beef. Instead, it's a double-decker sandwich with two sick meats, Swiss cheese, celeriate and Russian dressing, all layered intricately between slices of thin rye bread. For a show of Northern New Jersey, this is the canonical sloppy joe.

Despite being only 20 miles away, I had no clue it existed until recently, when passionate fans wrote me in response to a quiz about regional American foods that I put together in June.

"Delicious but not for the faint-hearted" was how Damon Leonell, a reader in Morristown, N.J., described the New Jersey sloppy joe, which legend has it was inspired

by a sandwich at a bar called Sloppy Joe's in Havana, Cuba. It was one of several dishes people wrote to me about that weren't mentioned in the quiz.

Iowa Maid-Rites and Rhode Island Johnnycakes Some, like Maid-Rites, or "loose-meat sandwiches" as they are known in Iowa, were familiar to me. Maid-Rites more closely resemble the sloppy joe of school lunchrooms. The ground-beef sandwiches are served on a soft bun and topped with mustard, pickles and raw onions.

Johnnycakes, Rhode Island's famous cornmeal pancakes, were another dish mentioned by readers that I've gotten to enjoy: (My family has roots in the state, so I know that Jannycakes is the spoiling preferred by some purists.)

Midwestern casseroles Some Ohioans were adamant that I try the Johnny Marietti, a decadent casserole with ground beef, sausage,

pasta, tomato sauce and cheese. Linked to Columbus, Ohio, it is representative of the broader casserole culture in the Midwest—and could be followed by another Ohio delicacy readers told me about Buckeyes, the state's fudgy peanut-butter-and-chocolate mooch.

Then there's the Hot Dish, Minnesota's official comfort food with no official recipe. Most versions

DIE IN A New Jersey sloppy joe, left, is nothing like the lunchroom classic. Get your Midwest on with Hot Dish, alcoa, or a Maid-Rite, below. Other reader picks include Burgos and Lau Sau, bottom left and right, respectively.

popularized in Indiana. Louise Hales, a reader in Davenport, Iowa, directed me to a version from the Filling Station, a restaurant near her home. "It's common for the pork to be at least two times the size of the bun," she said.

Hales also told me about Burgos, a slow-cooked Kentucky stew. Historically, it was made with any protein a household could hunt. Nowadays, recipes typically in-

call for browned ground beef, vegetables, cans of condensed cream soup (mushroom or chicken) and a tame-tot topping. But it's also served deep-fried on a stick at Minnesota's annual state fair.

Kentucky Burgos stew and Hawaiian Lau Sau Fried foods featured in my quiz included the fried pork tenderloin sandwich, which was

Jersey's sloppy joe may have been inspired by a sammie at a Cuban bar.

volve chicken, pork, beef and a medley of vegetables.

The farthest-flung food mentioned in emails was Lau Sau. Hawaii's pork-and-fish dish that is wrapped and steamed in taco leaves. As much as I wanted to hop on a plane to try it, my editor and I settled on a shorter trek, to New Jersey, to start with its sloppy joe.

Like many regional dishes, the sandwich feels stubbornly fixed in tradition. While variations use turkey, roast beef, pastrami and other deli meats, the original at the 89-year-old Town Hall Policymers is still made with ham and beef tougar. The latter is increasingly hard to find—and that's exactly what makes it worth the trip.

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06 | Saturday/Sunday, August 9 - 9, 2026

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THE WALL STREET JOURNAL.

Flight Without Friction

Continued from page 22 jet-pooling services, to programs that let you book private terminals at major airports. Together, they are increasing the paths to flying private—or private enough.

The Intimate Private Flight Club

Bond founder Bill Papariello starred his new aviation business after founding another, the charter company Jet Edge. He's positioning Bond as an alternative to NetJets and Finges, decades-old companies that popularized fractional jet ownership.

The model evokes that of a timeshare. You're splitting custody of a plane and you're guaranteed a certain amount of time on that plane, as a co-owner, there are additional benefits that can include tax write-offs.

Papariello said the No. 1 request among Bond members was for jets to have fewer co-owners than they can at other companies. Bond planes will have no more than eight, while Finges and NetJets can allow for twice as many owners per aircraft.

When Bond begins flying domestically and internationally next year, it will have 18 Bombardier jets in operation—a number that is meant to grow to 120. Metals include smaller Challenger

For many who want to opt out of commercial flying, owning a plane is impractical. Small jets can cost $14 million.

800b, midsize Global 600m and larger Global 800bn. Finges currently has 340 jets in its network, and NetJets, more than 1,100. Their Ours include Bombardier planes and other models.

To maintain Bond's jet-to-owner ratio, Papariello uses no more than 100 new members will be accepted a year. Finges has about 1,000 customers, and NetJets also has thousands. Not all are fractional owners; both companies offer maps to fly private without ownership.

Steve Pagliuca, a former chairman of Euro Capital, was among the first 110 members of Bond, all of

whom are also investors in the company. Each invested between $500,000 and $2.5 million. Pagliuca, who now runs his family office in Palm Beach, Fla., said he liked the company's intimate approach to fractional ownership.

"The model has proven to be financially viable, but it's now built on mass demand and massive scale," he said. "I invested in

Bond because I believe in the concept of a custom experience over scale."

Private Jetpools WhatsApp and group tests have become common ways for the well-connected to trade seats on private planes. Some companies are now offering a formalized version of these of you known-to-know chats.

They include Jet Line, a private aviation company founded in 1995. Recently, Jet Line introduced a program allowing its 12,000-plus members to advertise open seats on flights to other members—it's a way for pos-

ple going to the same place to jetpool instead of taking multiple individual flights. "I don't want to call it a dating app, but it's a little like doing some matchmaking," said Jet Line executive chairman Jamie Walker.

A newer company in the jetpool business is Beraize, founded by Harrison Epstein, who pivoted to aviation after a 15-year finance career, and Luke McNees. Diplo's former tour manager Epstein said Beraize aims to be the "middle between that $1,000 first class seat and a $30,000 as hour charter."

The also struck him as—where she's—an airport, when he was waiting for a commercial flight and saw a private jet idling on the tanner. "I'll pay to get on that right now and get home," he recalled thinking.

To get flights, members book commercial tickets or submit every request. Beraize notifies them when private flights match their itinerary (the company expects members to modify their own commercial travel if need be). Sometimes, flights are shared, other times members fly solo, like when their itinerary aligns with that of an empty jet.

The majority of Red Mar-Pherson's Beraize flights have been solo, he said. Mar-Pherson, a marketing strategist in Miami, uses the company to book one of the four-to-five flights he takes monthly. Beraize has trade-offs, he added. "Oftentimes, you will find a great opportunity in terms of price, but it's only a one-way. It's not as common to find both them and back."

The Uber Approach

When Uber co-founder Garrett Gamp started his aviation venture, Astra, in 2015, he brought elements of the ride-share company to the world of private jets. Namely, accessibility—like Uber, anyone can see Astra. There is no membership fee or application process.

You book passage on one of its seven jets, a mix of

Gallstreams and Embraers that seat between eight and 16, using its app or one. Aero-CEO Ben Klein said its target customers include

UP, UP AND JUNKY

Clockwise from top: Aero is the few liber of the air; a meal at a PS terminal at LAK; an Aero lounge at Van Nuys Airport in Los Angeles; and a PS suite at Miami International.

"That second homeowner traveling frequently," along with pet owners. "Being able to bring your dog is a huge advantage and why a lot of people choose Aero."

Eliosa Levy frequently books Aero flights between her homes in Los Angeles and Japan. She said the company makes it easy to modify reservations, and that it accommodates various luggage. "You can bring difficult items like a bike," said Levy, a retiree. "We've brought framed paintings in a box."

The Private Oases for Commercial Flyers

A basic show of private-jet based is avoiding chaotic

commercial airports. That is what I'll speculate on. Anyone with a commercial ticket can book its private terminals at major airports in Los Angeles, Miami, Dallas and Atlanta.

PS facilities have shared lounges and private suites, as well as their own TAA agents. Customers are often greeted with Champagne and similar and purported with gourmet meals and massage treatments. When it's time to travel to flight, a driver which you directly to the plane is a 60ft!

Shiram Parikh, the CEO of a tech company in New York, got a few PS booking through his credit card. He wasn't sure if he'd pay to go back. For the cost of entry for his family, he might rather book a suite at a luxury hotel instead. Or, "you can stay there for three hours before your flight," Parikh said.

Cecilia Davis, a concierge stylist and PS member in Atlanta, appreciates the company's small touches, like the refrigerator filled with bottled mantles, juices and water waiting just past security.

While PS users' final destinations are commercial flights, the company is looking on travelers upholstery for a few hours away from the masses. "Privacy is kind of the ultimate luxury," said PS CEO Amisa Belouz-And Perier.

The interior of a Bond jet. The first will begin flying domestically and internationally next year.

Pathways to a Private-Flying Experience

How to effect an private flight on the life of a private flight.

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THE PITCH

A members club offering a cider tape on fractional jet ownership.

THE COST

Between $3.7 and $12 million to co-own a Bombardier jet with no more than eight people plus $17 to $12 million in annual operating fees.

WHAT YOU GET

100 hours in the air annually on domestic and international flights about your stated jet, along with other benefits that can include tax write-offs.

Benefits

A members club that splits private flights between customers traveling similar routes.

A anytime sign-up fee of $2,000, which Beraize plans to replace with an annual fee in 2027. Members pay per flight, which start around $4,000.

Domestic and international flights on planes from companies including Vista-Jet and Biden Aviation.

PS

A website for app/phy transfer can freely use to get a seat on select private flights shared with others.

Private cars, but roughly average in about $3,000 per hour of flight time.

Mostly domestic routes between wealthy airlines like Los Angeles, New York, Miami, Aspen, Clio, and Maui.

Auto

A network of private terminals at select U.S. airports where commercial travelers can check-in and wait.

Annual membership fees not $1,000 to $6,000; members then pay per booking starting at $9.91. Nonsmokers can book terminals, starting at $1.295 per visit.

TSA with no tools and other amenities including thorough and being disinfected to your commercial plane.

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Saturday/Sunday, August 8 - 9, 2016 | D7

DESIGN & DECORATING

THE LIVING ROOM "We wanted comfort," Laura said. "Everything that we selected needed to fill that de- cree of a good, hersey feeling." A walnut- franked caling helped cicy up the living room. "It really grounded the space and helped give the home a nestled feel- ing," Legeas said.

Furniture for the liv- ing room—a cotton kid- ney-beat sofa drenched in 25k × 45m variant wool, a vintage Milder- toys armchair designed by Joe Colombo (around $35,000)—needed to the home's past.

The owners sought to restore the home to its former glory while introducing modern touches.

The '80s Reno Had to Go

Removing the 'Dynasty'-era renovations allowed a Nevada home's original Mideonary-style architecture to take center stage

By KELLY MOORE

LUISA AND Boost Harkits Mideonary- style house in Nevada about 61 minutes from Luke Tu- loa was built in the 1970s. But when they bought it in 2010, much of its charm had been lost to a 2010s- renovation involving beige and "Dynasty"-era mirrors. "The home before was

piercemealed together," said Laura, a former educator who now helps her attorney husband ran his office. "It was a strange layout and not func- tional." The couple had initially been attracted to the house for its welcoming feeling. That was a quality the Harkits, who have two teenage chil- dren, wanted to retain. Built: 1672 Location: Nevada, near Lake Tahoe Size: 2,000 square feet (main house), 2 bedrooms and 3.5 bathrooms. Timeline: About 3 years They sought out an interior de- signer to re- store the residence to its former glory while introducing modern touches that complimented its low-slung profile and angular roofline.

They hired Chloe Legras of Roswood Avenue Interi- ors, whose design firm has offices in Reno, Nev., and Paris. Her first step? Re- moving the '80s-era reno- vations to allow the home's original architecture to take center stage. "I look at the home so that the interiors feel unified," Legras said. Here's a room-by-room breakdown of the revamp, which took about three years to complete.

▲ THE ATRIUM

Raised planters original to the home's atrium were a log in spiration for the renovation. "The greenery of the plants set the mood," Legras said. "We wanted to incorporate an indoor-outdoor feel! But the planters' pale skimpstone sides made them look dated. "They covered them with high-density fiber cement

panels, topped with black granite (about $22,000 in materials), a project overseen by M.D. Construction, a coa- son's home builder in Traction, Calif. The atrium's makeover also included enlarging its three original daylight win- dows, for around $70,000 each. For that, Legras worked with Todd Copertower, an ar- chitect in Reno.

▲ THE KITCHEN AND DRONG ROOM ▶

The dark wood of the living room extends to the adjacent dining area, which Legras fur- nished with a quartzite table and green an- ciented chairs, as well as to the home's kitchen. Both feature sculptural Jeremy Maxwell Who- INSERT lights ($42,000 for the dining-room for home), as well as cler- alory windows and sly- lights. Legras designed each with the Harkits' day-to-day routines in mind, especially meals with their children.

"The kitchen needed to be incredibly func- tional because they love its cink and spend time together," Legras said. She added hand-paced tires, stools and, to re- crease counter space, dual-signals (around $200,000). She has beau foot, an oncor- porate, bequite touch. "This whole goal from the beginning was to restore it," Legras said. "When you walk in this home, you feel like you can just breathe."

WARM AND WELCOMING The walnut-clad walls were offset with a quartzite dining table, green-accented chairs and light fixtures by Jeremy Maxwell Whitebelt.

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D6 | Saturday/Sunday, August 8 - 9, 2020

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THE WALL STREET JOURNAL.

GEAR & GADGETS

No Need for Compromise

By eliminating gas-only models and fixing a few hybrid annoyances, Toyota's RAV4 proves improved fuel economy doesn't mean sacrificing performance. And some models can go over 50 miles in electric mode.

By Dan Sira.

YOU WANT relevance? Here it is, folks. The one that matters. Our guest represents the sixth design presentation of the Toyota RAV4 compact SUV, the perennial sales leader in its segment and one of the best-selling, most trusted family vehicles in the U.S.

Bentleys and Lotanes are fun for the few; the RAV4 owns the love of multitudes.

The newer hit As of model-year 2026, all RAV4s are hybrid RAV4s—Toyota has eliminated the gas-only option. The new RAV4 HRV gets a boost in pole (236 hp, AWD/226 hp, FWD) compared to the outgoing hybrid. The other figure of merit: 43 mpg, combined (FWD). Not bad for a vehicle from the Teti Cooler school of design.

Built around a 2.5-liter inline-four, Alderson-cycle gas engine, RAV4's hybrid system employs a dual planetary gasket—an electronically controlled CVT—and two integrated electric motors, one dedicated mostly to propulsion and the other regenerative braking/charging of the battery. AWD models have an independent electric motor on the rear axle, for on-demand all-wheel drive.

The RAV4 PREV—ears in the Woodland "grade" (847.8/0.4) as tested—debuts the company's latest plug-in hybrid location. PREV models come standard with AWD, by way of an independent e-motor

on the rear axle, raising system output to a lofty 250 hp. Here the major number is all-electric range: an EPA-estimated 52 miles. With the more intrepid Woodland, that number falls to 40 miles, due to the added drag of the all-terrain tires.

As much as I have to question with the EPA, I really love that number during two-drain-the-battery type tests in mixed city and highway driving, using Normal drive mode. These were quality EV miles, too. Typically, PREVs

fire up the engine if the car exceeds a speed or load threshold, or if the traction battery falls below a minimum state of charge, or if the driver asks for full power, even momentarily. This narrow window of operation makes it hard for contractors to take advantage of PREV's efficiency. And it really pisses me off.

The RAV4 PREV's EV mode was completely transparent; that is to say, all but indistinguishable from the operation of a regular battery-electric. In fact, I found myself humming along the interstate at 80 mph, anticipating, even drooling the moment the gas engine retired. But as the miles of EV range counted down to it, it never did.

Finally, the drive-mode icon in the instrument display turned from EV mode to hybrid mode. That was the sign that the 2.5-liter engine under the hood had been activated. But, hovering along at 80 mph, I couldn't hear the engine start nor could I feel it running. Wow, this thing is dead quiet, I

The '26 Toyota RAV4 PHEV comes in Sport or Rugged styles, Woodland grade, above, is in the Rugged category. It's also available as an HEV, below.

thought; and why is my inner voice shouting?

Given the price point, I was prepared for some cost-driven choices in the cabin materials and amenities. Toyota didn't disap-

point. The seats are hard and flat. The audio system is just OK. But the cabin isolation, sport and refinement are next level. Whatever engine driving and shooting you might remember from earlier CVT systems has been banished to the Phantom Zone.

I also want to acknowledge the heroes who delivered on high-speed wind noise. The squarish contours offered a thousand places for whistling and buffering to hide. And yet, at 80 mph, wind noise is reduced to a lulling bush.

At lower speeds, as in city traffic, you begin to hear the engine's whispered revving in the perceptual background as it simultaneously propels the car and reshapes the 22.7xSRS battery. But, unless you are a practiced, suberation, you can't feel it cycling on and off. Put a gun as that.

And our woodsy friend is ridiculously quick. With the help of two-torquay e-motors, the PREV comes off the line smartly in 83 mode, by the seat of my pants, 0-60 mph acceleration from like 9 seconds, give or take. With the IC motor engaged, the poor picks up bersically. Toyota cites a 0-60 mph acceleration of 5.4 seconds (gas+electric), which would make the weekday RAV4 PREV quicker than the Porsche Maxon T.

Another way the RAV4 PREV is conspicuously above the line: suspension tuning. The front Max-Pherom strofa and rear multi-links have been upgraded and thoroughly gentrified. The ride and readholding compromise is well

NEXT GEN The redesigned Toyota RAV4 family has been electrified.

struck, with road impacts well damped and muffled, and transient body motions kept in check. The all-terrain tires undo some of this good work; the taller sidewalls mean more deflection in sharp cornering, a less stray steering response, and a bit more tire noise at highway speeds. But not bad.

I have thoughts: It seems obvious that, after a couple of years of the American public gaming about stop-start systems in their cars, Toyota decided to make the problem go away by making the experience go away. Stop-start? When? Did you hear something? No, you did not. I kind of love that.

The squarish contours offered places for whistling to hide. Yet, at 80 mph, wind noise is reduced to a lulling bush.

The maximum effort on NVR also reflects the special challenges involved in engineering a mass-market PREV. In conventional, IC-powered cars, the running engine helps mask a host of other unwanted sounds. In an EV—or even a FWD that speeds much of its life in EV mode—those noises stop to the experiential foreground. In response, the sixth-generation RAV4 was issued upgraded acoustic armor.

Complaints? The RAV4 is to modern suberba what perhaps hate were to 'life dads. Everybody's got one. Few really look cool wearing them. I tried counting all the RAV4s I saw on the way to the park, about 15 minutes away. I gave up where I hit 10 and I was nowhere near the park.

I can hardly believe one of the most popular vehicles in America is so dumb looking. The Woodland grade comes with the Split Home: marlund Grille. Give? says the Woodland. I'm a bear. I'm a shark. I'm a shark bear.

The Woodland also comes equipped with a COSI charging port with DC fast-charging capability, allowing charging from 30%-80% in 35 minutes under ideal conditions, says Toyota.

That will literally never happen. Users who aspire to recover the PREV promises (90-80%) will have to arrange for home charging. But not much. My humble loved it, 50 amp-changer had fully reshaped the Toyota by the time I got up in the morning, when it again became relevant.

2026 TOYOTA RAV4 PHEV WOODLAND

Price, as tested 847.850 Powertrain Plug-in hybrid gas-electric, using a 48 inch machine, 2.5-liter DOHC inline-four, Alderson-cycle gas engine, electronically controlled hybrid CVT transmission; two

integrated motor-generators, 22.7xSRS lithium-ion battery, independent rear electric motor (91 lb-ft) on-demand all-wheel drive. Total system power 324 hp

Length/wheelbase/width/height 78/20/189.9/74.0/69.1 inches Ground clearance 8.5 inches Curb weight 4,500 pounds

Manufacturer-estimated fuel efficiency 47/35/38 mpg Towing capacity 3,500 pounds Cargo capacity 316/65A cubic feet (behind 2nd/1st row)

© 2020

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THE WALL STREET JOURNAL.

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Saturday/Sunday, August 8 - 9, 2020 | 09

EATING & DRINKING

By Jason Wilson

PEOPLE make a bigger deal out of wine-and-fried pairings than they need to. My simple rule: Find a "Goldilocks wine"—not too heavy, not too light—and stick with it.

I discovered mine years ago when attempting to find the perfect pairing with rediechis—that not only challenging, purple leafy vegetable known for its aggressive bitterness, earthiness and astringency.

A bottle of young Italian Nebbiolo was up to the task. Its rambunctious tannins, high acid and contrasting notes of cherry, rose petals and hot summer asphalt worked nicely. A wine that pairs with rediechis will pair with pretty much anything.

I had found my Goldilocks Nebbiolo, a grape grown mainly in southern Piedmont's Langhe region, combines the flowers and complexity of Pinot Noir with the power and tannins of Cabernet Sauvignon. It carries enough bright acid to pair with grilled meats and creamy pasta-tanera, enough earthiness to complement mushrooms and truffles and a sweetness that plays well with roasted veggies and herb-heavy dishes.

Unsteady and rarely touted by influences or celebrity connoiters, Langhe Nebbiolo has flown under the radar in part because it is the poor reason of two more coveted, expensive wines: Barolo and theo-barocco are both also made from the Nebbiolo grape. Those premium bottles are distinguished by their age. Barolo must age for at least 20 months before release, while Barbarocco must age a minimum of 20 months.

Most Langhe Nebbiolo wines are aged less than a year, allowing makers to use grapes from younger vineyards or difficult vantage. But that doesn't

A Red Wine for All Palates

Not too bold, not too light, Langhe Nebbiolo may be the elusive "Goldilocks" wine that pairs with everything

same producers nearly always run for less than $20, and are often under $25. It's why many people refer to Langhe Nebbiolo as "Baby Barolo."

Another reason this modestly priced, easy-to-drink wine hasn't made it to the big time is the overused 100-point scale that wine critics use. They seem to follow an unwritten rule

Its rambunctious tannins, high acid and contrasting notes of cherry, rose petals and hot summer asphalt worked nicely.

mean they are any less appealing.

"Langhe Nebbiolo has more droidedility, more freshness, more fruit and less structure than a Barolo or Barbarocco wine," said Cristina Oldoni, winemaker at the Oldoni winery in the stunning hilltop village of La Morra.

The wine is also significantly less expensive than other Nebbiolos. While most top Barolos start at more than $40—and plenty go for over $100—Langhe Nebbiolos from the exact

that Langhe Nebbiolo must always be rated between 87 and 89 points, to leave room for their 95-point Barolos.

If Langhe Nebbiolo were reviewed in any other context—where price and value mattered—it would never be rated that low.

To put my theory to the test, I've been sharing bottles of Langhe Nebbiolo with friends over the past few months.

I've served it with skirt steak, pork tenderloin, salmon, eggplant-driven

A NICE PLACE TO GROW The bussite, hills of southern Piedmont's Langhe region, known for its Nodibolo varieties.

pasta alla Norma and risotto made with freek, ripe Jersey tomatoes.

Even the wine collectors among my friends, who swear by hyped Barolos,

knee had to admit that on a summer evening, as an accompaniment to a delicious meal and lively conversation, the Langhe Nebbiolo hits just right.

4 LANGHE NEBBIOLO WINES TO SEEK OUT

So Su Vajou Langhe Nebbiolo, $20 Bright and juicy, earthy and floral, with a light ruby color and notes of strawberry and black cherry. Pair with Bolognese or ragu.

So So Moun Langhe Nebbiolo, $27 Vibrant and intense, but light on the palate, with complex flavors and aromas of purple flowers, dried herbs, baking spices, raspberry and cranberry. Its gentle tannins bring out the flavor of dishes like mushroom risotto.

G.D. Vajou Langhe Nebbiolo, $20 Bright and juicy, earthy and floral, with a light ruby color and notes of strawberry and black cherry. Pair with Bolognese or ragu.

Oddono Langhe Nebbiolo, $29 Subtle and savory, with pretty aromas of rose and formed, a silky mineral mouth feel and flavors including ripe red cherry, wild strawberry and a hint of herbs. Drink it on its own or with whatever's on the grill.

Domikino 'Marghi' Langhe Nebbiolo, $25 Fresh and elegant, with serious tannins, aromas of violets and roses and flavors including pomegranate and big, ripe red berries. Great with eggplant parmigiana.

So So Moun Langhe Nebbiolo, $27 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So Moun Langhe Nebbiolo, $29 So **M

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D50 | Saturday/Sunday, August 8 - 9, 2026

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THE WALL STREET JOURNAL.