Natural Gas Regulations Could Be On WA Ballot In November

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OLYMPIA — Washington voters could decide in November whether utilities and local governments must provide natural gas to eligible customers and whether to curtail state regulations that disincentivize natural gas use.

The hundreds of thousands of signatures required to get the measure on the ballot are due in less than two months. The proposal comes as other states across the country have moved to bar bans on natural gas service .

The new initiative is getting support from Let's Go Washington, the group supporting a slate of initiatives that have secured slots on the November ballot .

Initiative 2066 would repeal key parts of House Bill 1589 , which legislators passed this year. The bill made changes to state law to help Puget Sound Energy comply with earlier climate legislation, including the state's plan to cap and reduce carbon emissions.

"Banning natural gas is a reckless policy that harms nearly everyone in our community," said Greg Lane, executive vice president of the Building Industry Association of Washington, at a Thursday news conference kicking off the signature-gathering effort in Olympia. "That's why we strongly support Initiative 2066 to protect energy choice for everyone here in Washington."

Washington has not banned natural gas. House Bill 1589 doesn't ban natural gas or change PSE's obligation to provide it to customers.

"[Puget Sound Energy] has an obligation to serve any customer who wants natural gas," a spokesperson for PSE said in a statement Thursday. HB 1589 didn't change that, so the relevant provisions in Initiative 2066 wouldn't affect the company or its customers, they said.

"It's disappointing to see continued misinformation about what the legislation require[s]," the spokesperson said, adding that the bill was "fundamentally a planning requirement" and that the initiative backed by the builders would "strip out important mechanisms that help us to cost-effectively plan for the eventual decarbonization of our system in alignment with customer choices and state policies."

The Economic Establishment Is Blind To The Scale Of Chaos To Come

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In recent months, surveys have shown that confidence in President Biden's stewardship of the economy is at historic lows.

Answers are coming from outside Biden's inner circle. A few weeks ago, former treasury secretary Larry Summer released a paper written alongside other economists. In it, the authors made a shocking claim: if inflation was measured in the same way that it was measured during the last bout of price rises in the 1970s, data showed that it peaked at 18pc in November 2022. This is far higher than the 9.1pc peak inflation shown by the official data.

The reason for this discrepancy is that, since the 1970s, economists have removed the cost of borrowing from the Consumer Price Index (CPI). The motivations here were not nefarious. The reasoning of the statisticians had something to it.

They argued that since borrowing costs are determined by central bank policy and central bank policy aims at suppressing inflation, including borrowing costs in the CPI created a logical loop. Yet, despite the motivation for changing the statistical metric being benign, it is clear that when trying to measure the pain inflation imposes on consumers, borrowing costs must be considered.

Summers and his co-authors go as far as any statistical economist can go in proving this. They show that a combined metric measuring inflation and unemployment – labelled the " misery index " – typically tracks consumer sentiment.

But as inflation took off under the Biden administration, the two series diverged. Summers and his co-authors then go on to show that if they use the older measure of CPI, lo and behold, the two series align once more.

There is little doubt that Summers and his co-authors have solved the puzzle. Supporters of the Biden administration can point to robust GDP growth all they want. The reality is that most people in the US have seen their costs rise by nearly a fifth during Biden's tenure as president.

Gov. Polis Signs Bills Providing Income Tax

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Embedded Accounting Startup Layer Secures $2.3M Toward Goal Of Replacing Quickbooks

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Embedded finance is usually what we hear about when brands and non-financial businesses want to offer financial products or services — like banking, insurance, lending and payments — to provide a better user experience for customers.

Layer is leaning into that better user experience, but with embedded accounting. Its customers are those, like Square or Toast, working with small and medium-sized businesses to offer accounting and bookkeeping features inside their own products. These larger companies would embed Layer's tools into their platform for small businesses to use.

In a way, Layer is like Unit or Check, but for SMB accounting instead of banking and payroll. In fact, the company aims to completely replace legacy accounting and bookkeeping platforms like Quickbooks, Meretab told TechCrunch.

So did investors laugh them out of the room when they explained how they wanted to replace Quickbooks? Kind of.

Inside Business Annual Power List 2024: 55 Power Players ⁘ The Virginian-Pilot

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Inside Business creates its annual Power List to showcase who⁘s who in terms of moving the needle for the economy in Hampton Roads, whether they be the decision-makers, the influencers or those working behind the scenes. This year, we organized the Top 25 by types of influence or power rather than a numerical ranking. We then listed another 55 power players from various backgrounds and sectors. In researching movers and shakers, we looked at last year⁘s list and then looked at the newsmakers of the past year. We factored in major milestones or current events to determine who to highlight instead of creating a directory of anyone who⁘s held power over the years.

Dr. Alfred Abuhamad is president, provost and dean at Eastern Virginia Medical School, where he is also professor of obstetrics and gynecology and radiology. Under his leadership, EVMS is working to integrate with Old Dominion University to leverage their combined resources to strengthen research and training in what would become the state⁘s largest medical school. A faculty member at EVMS and a citizen of Hampton Roads for 31 years, Abuhamad is well known internationally for his work in ultrasound, prenatal diagnosis, fetal echocardiography, global outreach and patient safety.

Since becoming the seventh president of Norfolk State University in 2019, Javaune Adams-Gaston has led the opening of the NSU Innovation Center, a business incubator designed to establish job and training pipelines, and is working to build a joint School of Public Health with Old Dominion University and Eastern Virginia Medical School with support from Sentara. Norfolk State is also working with EVMS and Sentara in a Hampton Roads Biomedical Research Consortium.

Under Adams-Gaston⁘s leadership, Norfolk State has expanded its online programs, gained recognition as an academic leader in cybersecurity, developed the Center for African American Public Policy and landed a $40 million gift from billionaire philanthropist MacKenzie Scott. Construction is slated to start this year on a $122 million science building. Adams-Gaston serves on numerous boards and is part of the White House advisory board on historically Black colleges and universities.

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Think "Spaving" ⁘ Or Spending To Save ⁘ Can Save You Money? Think Again.

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Americans are choking on surging fast-food prices. "I can't justify the expense," one customer says - CBS...

Kevin Roberts remembers when he could get a bacon cheeseburger, fries and a drink from Five Guys for $10. But that was years ago. When the Virginia high school teacher recently visited the fast-food chain, the food alone without a beverage cost double that amount.

Roberts, 38, now only gets fast food "as a rare treat," he told CBS MoneyWatch. "Nothing has made me cook at home more than fast-food prices."

Roberts is hardly alone. Many consumers are expressing frustration at the surge in fast-food prices, which are starting to scare off budget-conscious customers.

A January poll by consulting firm Revenue Management Solutions found that about 25% of people who make under $50,000 were cutting back on fast food, pointing to cost as a concern.

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The sneaky tricks chain stores use to make YOU spend more money | Daily Mail Online

Other examples might be a 'limited-time deals' or promises of bigger savings or free shipping for hitting spending thresholds.

Deals offered by many retailers can only be claimed by spending money - and that can sometimes lead to bigger problems as shoppers take on credit card debt to finance .

'We are just constantly spending more than we can afford and then we experience stress related to our financial health,' said Klontz.

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"I understand the appeal of getting to checkout and a notification pops up saying spend $10 more to get some perk," LendingTree senior economist Jacob Channel told CBS MoneyWatch. "But 90% of the time, when you break it down, it doesn't make sense. You're not actually saving money if you are spending more of it."

A number of common marketing offers dangle the lure of savings ⁘ provided that you splash enough cash. They include:

If these tactics sound familiar, it's because they're widely used by a range of retailers, from grocery chains to clothing stores, noted Bankrate personal finance expert Ted Rossman.

To be sure, there's nothing illegal or even especially underhanded about such offers ⁘ merchants are in the business of making money, after all, while consumers bear some responsibility for determining if a deal is worthwhile.

By the same token, it's also on shoppers to be alert to sales gimmicks that subtly nudge them to overspend.

"Retailers have always known this trick, and they're really good at what they do," personal finance expert Rachel Cruze told CBS MoneyWatch. "They know that if we put a sale on or offer free shipping if you spend 'X' amount, you'll spend more money. Psychologically, they're good at knowing how to entice people."

But why do consumers fall into the trap of spending more in the name of saving? Part of it often comes to FOMO, or the fear of missing out, on a limited-time sale or other purported bargain, money coach Nicole Victoria told CBS MoneyWatch.

"It's about loss-aversion, or the perception of loss," she told CBS MoneyWatch. "You feel like you're losing money by paying for shipping, and you've invested time and resources into filling up your shopping cart, so you'd rather gain something more."

Do I Have To Pay My Staff Overtime? | Carr Maloney P.C.

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Portland Unanimously Passes New Regulations For Camping On Public Property

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"Addressing the issue of unsheltered homelessness in the city is obviously a complex as well as an urgent order," said Mayor Ted Wheeler, whose office drafted the ordinance. "And I believe that this ordinance represents a significant step forward in our ongoing efforts to manage public spaces effectively."

The proposal allows people experiencing homelessness to camp on public property if no shelter beds are available, which is often the case in Multnomah County. But it limits what people can do while camping. For instance, the policy prohibits people from using a propane heater, digging into the ground, starting a fire, selling bicycles or car parts, or blocking access to private property while camping.

Those who violate these rules could be fined up to $100 or be sentenced to up to seven days in jail. People could also face the same penalties if an outreach worker with the city informs them that shelter space is available, but they refuse to pack up their camp.

This proposal replaces a public camping ban the city passed last year, which has been stalled by litigation .

The decision comes as laws regulating public camping remain in flux. Last month, the U.S Supreme Court heard arguments in a case from Grants Pass, Oregon, in which the city argued that penalizing unsheltered people for sleeping outside doesn't violate the U.S. Constitution — despite an earlier federal ruling saying otherwise. Justices are expected to issue a ruling in June.

If the court rules in Grants Pass' favor, Portland wouldn't be able to immediately begin penalizing people camping in public spaces. It would still need to adhere to a state law that directs cities to establish rules that allow for public camping if there isn't shelter space available.

"These code changes fail to respond in the strong manner that Portlanders are asking for," he said. "However, in discussions with law enforcement, they want something on the books, even if flawed."

The World's Economic Order Is Breaking Down

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The dysfunction at the WTO is emblematic of a world where the institutions and rules intended to foster international trade and investment are falling into abeyance. Every day brings alarming new headlines. The European Union, although supposedly both more supportive of free trade and more determined to reduce its greenhouse-gas emissions than other economic powers, is on the verge of imposing duties on Chinese electric vehicles. Last month EU officials raided a big Chinese security-equipment maker as part of a probe into subsidies. America recently imposed sanctions on more than 300 entities, including some in China and Turkey, for providing support to Russia's armed forces.

This article appeared in the Briefing section of the print edition under the headline "The great regression"

SEC Accuses Truth Social Auditor Of Fraud, Bars It From Accounting Work

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The auditor, BF Borgers, and its owner, Benjamin Borgers, agreed to a permanent suspension from accounting work and to pay $14 million in civil penalties, federal regulators said.

U.S. Money Supply Is Doing Something So Rare That It Hasn't Happened Since The Great Depression -- And A Big Move...

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Disney earnings, Fedspeak: What to Watch Next Week

As the trading week draws to a close, it's time to look ahead at the key events that will take center stage for Yahoo Finance in the upcoming week.

The earnings season continues to unfold, with notable companies such as Disney ( DIS ), Uber ( UBER ), and Toyota ( TM ) scheduled to report their quarterly financial results on Tuesday.

Additionally, another round of Federal Reserve commentary is on the horizon. Richmond Fed President Tom Barkin and Fed Governor Lisa Cook are expected to share their perspectives on the central bank's policy outlook.

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Paramount is on the verge of a deal: How it got here

Shares of Paramount Global (PARA) spiked in the afternoon on Thursday after a report revealed that Sony Pictures and Apollo Global Management ( APO ) submitted an all-cash $26 billion offer for the company. How did the Paramount get here, and where could it settle on a deal?

Yahoo Finance Reporter Alexandra Canal outlines the timeline behind Paramount's journey to a potential deal.

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Over the previous four years, Wall Street has been a stomping ground for volatility. In successive years, beginning in 2020, the ageless Dow Jones Industrial Average ( ^DJI 1.18% ) , broad-based S⁘P 500 ( ^GSPC 1.26% ) , and growth stock-driven Nasdaq Composite ( ^IXIC 1.99% ) have traded off bear and bull markets .

Although the stock market has been a proven wealth creator over the long run, predicting where it'll head in the days, weeks, or months to come simply can't be done with any concrete accuracy. Nevertheless, it doesn't stop investors from trying to forecast the future to gain an edge.

While nothing is set in stone over the short run, a select group of predictive indicators and money-based metrics have a remarkable track record of "forecasting" shifts in the U.S. economy and/or the stock market.

One of these tools, which appears to be a forewarning of a big move to come in stocks, is the U.S. money supply.

Though there are five different measures of money supply, the two with the greatest importance are M1 and M2. The former takes into account all the cash and coins in circulation, as well as demand deposits in a checking account. It's easily accessible capital that can be spent at the proverbial snap of a finger.

On the other hand, M2 utilizes everything in M1 and adds in money market accounts, savings accounts, and certificates of deposit (CDs) below $100,000. We're still talking about capital that can be spent with relative ease, but some extra steps are required to get to it. It's this metric, the M2 money supply, that is raising red flags for the U.S. economy and Wall Street.

What's interesting about the M2 money supply garnering attention is that it's a metric most economists tend to ignore. It's been steadily rising for so many decades that it's almost taken for granted that the money supply will expand as the U.S. economy grows over time.

Based on data from the Board of Governors of the Federal Reserve, the M2 money supply peaked in April 2022 at $21.722 trillion. As of March 2024, M2 came in at $20.841 trillion. While this might look like a fairly tame decline of $881 billion (4.06%) spanning roughly two years, it represents the first decline of at least 2% in M2 money supply since the Great Depression .

New Rule From Biden Administration Expands Who Can Be Eligible For Overtime Pay

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IOWA CITY, Iowa (KCRG) - In Just two months, millions of workers across the U-S will now qualify for overtime pay. Including the average Iowa who makes just more than $37,000 a year according to the US Census Bureau .

In April, the Biden-Harris administration finalized a rule to increase the compensation thresholds for overtime eligibility.

"We're doing everything in our power to keep them here, to keep them well compensated," said Christine Hayes, Communications and Development Director for Shelter House.

Starting July 1st, any worker making less than around $43,000 a year must be paid hourly, giving millions of people the opportunity to earn overtime pay.

That threshold increases again in January, and employees making less than around $58,000 will be required to be hourly.

"4.3 million American workers who work over 40 hours a week and are struggling still to make it. This rule will allow them to get a little bit more breathing room," said Julie Su, Acting Labor Secretary.

She said the $43,000 threshold in July won't impact any employees, but the shelter is working with its employment attorney to look at any changes that may be needed in the future.

Biden Administration To Greatly Ease Marijuana Regulations; Here's How NH Would Be Affected

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David Burr demonstrates removing leaves on marijuana plants to allow more light for growth at Essence Vegas' 54,000-square-foot marijuana cultivation facility on July 6, 2017, in Las Vegas, Nevada. (Ethan Miller | Getty Images)

The reclassification would not have transformative effects in New Hampshire, experts say. Recreational cannabis is still illegal in the Granite State, though since 2017, people have been allowed to possess up to three-quarters of an ounce at a time without the threat of jail time.

But the reclassification will help the state's therapeutic cannabis scene – particularly when it comes to accessing federal tax breaks.

"If you view cannabis reform as an irresistible force and the DEA is the immovable object, this is the first movement ever," said Matt Simon, director of public and government relations for GraniteLeaf Cannabis, which is based in Chichester and Merrimack. "This was the first they've ever budged."