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    Was the Stone Age actually the Wood Age?

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    In 1836, Christian Jürgensen Thomsen, a Danish antiquarian, brought the first semblance of order to prehistory, suggesting that the early hominids of Europe had gone through three stages of technological development that were reflected in the production of tools. The basic chronology — Stone Age to Bronze Age to Iron Age — now underpins the archaeology of most of the Old World (and cartoons like “The Flintstones” and “The Croods”).

    Thomsen could well have substituted Wood Age for Stone Age, according to Thomas Terberger, an archaeologist and head of research at the Department of Cultural Heritage of Lower Saxony, in Germany.

    “We can probably assume that wooden tools have been around just as long as stone ones, that is, 2½ or 3 million years,” he said. “But since wood deteriorates and rarely survives, preservation bias distorts our view of antiquity.” Primitive stone implements have traditionally characterized the Lower Paleolithic period, which lasted from about 2.7 million years ago to 200,000 years ago. Of the thousands of archaeological sites that can be traced to the era, wood has been recovered from fewer than 10.

    Terberger was team leader of a study published last month in the Proceedings of the National Academy of Sciences that provided the first comprehensive report on the wooden objects excavated from 1994 to 2008 in the peat of an open-pit coal mine near Schöningen, in northern Germany. The rich haul included two dozen complete or fragmented spears (each about as tall as an NBA center) and double-pointed throwing sticks (half the length of a pool cue) but no hominid bones. The objects date from the end of a warm interglacial period 300,000 years ago, about when early Neanderthals were supplanting Homo heidelbergensis, their immediate predecessors in Europe. The projectiles unearthed at the Schöningen site, known as Spear Horizon, are considered the oldest preserved hunting weapons.

    In the mid-1990s, the discovery of three of the spears — along with stone tools and the butchered remains of 10 wild horses — upended prevailing ideas about the intelligence, social interaction and toolmaking skills of our extinct human ancestors. At the time, the scientific consensus was that humans were simple scavengers who lived hand-to-mouth until about 40,000 years ago.

    “It turned out that these pre-Homo sapiens had fashioned tools and weapons to hunt big game,” Terberger said. “Not only did they communicate together to topple prey, but they were sophisticated enough to organize the butchering and roasting.”

    The new study, which began in 2021, examined more than 700 pieces of wood from Spear Horizon, many of which had spent the previous two decades stored in chilled tubs of distilled water to simulate the waterlogged sediment that had protected them from decay. With the aid of 3D microscopy and micro-CT scanners that highlighted signs of wear or cut marks, researchers identified 187 pieces of wood that showed evidence of splitting, scraping or abrasion.

    “Until now, splitting wood was thought to have been only practiced by modern humans,” said Dirk Leder, an archaeologist also at Lower Saxony and lead author of the paper.

    Besides weapons, the assemblage included 35 pointed and rounded artifacts that were most likely used in domestic activities such as punching holes and smoothing hides. All were carved from spruce, pine or larch — “woods that are both hard and flexible,” said Annemieke Milks, an anthropologist from the University of Reading who collaborated on the project.

    Since neither spruce nor pine would have been available at the lakeshore, where the site was located, the research team deduced that the trees had been felled on a mountain 2 or 3 miles away or perhaps even farther. Close inspection of the spears indicated that the Stone Agers planned their woodworking projects carefully, following a set order: strip the bark, remove the branches, sharpen the spear head, harden the wood in fire. “The wooden tools had a higher level of technological complexity than we usually see in stone tools from that age,” Leder said.

    All but one of the spears were hewed from the trunks of slow-growing spruce trees and shaped and balanced like modern javelins, with the center of gravity in the middle of the shaft. But were they meant for throwing, or for thrusting? “The spears were made from dense wood and with thick diameters,” Milks said. “To me, that suggests the hominids manufacturing them may have intentionally designed at least some as flight weapons for hunting.”

    She tested the spears’ external ballistics by enlisting six trained male javelin throwers, aged 18 to 34, to heave replicas at hay bales from various distances. “My point was to ask people who were a little bit better at doing this than archaeologists, because up until that point, we’d had experiments with lots of people who were … archaeologists,” Milks said, adding: “Anthropologists are not very good at that kind of thing, either.”

    From 33 feet away, Team Neanderthals hit the target 25% of the time. The athletes were equally accurate at 50 feet, and only slightly less (17%) at 65 feet. “Still, that was double the range at which scientists had estimated a hand-thrown spear could be useful for hunting,” Milks said.

    For her, the notion that our Stone Age forebears were artisans serves to humanize them. “Working wood is slow, even if you’re good at it,” she said. “There are lots of different steps in the process.” She imagines a bunch of Neanderthals clustered around an evening campfire, assembling and sanding and mending their wooden handicrafts. “It all seems very, very close, in a way,” she said, wistfully, “even though it was such a long, long time ago.”

    ‘A Fatal Inheritance,’ by Lawrence Ingrassia book review

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    When Regina Ingrassia died at 42, leaving four children, her death seemed cataclysmic but random. “She was one of 318,500 Americans who died of cancer in 1968,” Lawrence Ingrassia, her second-oldest child, writes. “It was tragic, but what was there to say?”

    There would be much more to say, sadly. “Cancer was far from done with my family,” Ingrassia writes in his new book, “A Fatal Inheritance.” Eventually, he would lose two sisters, a brother and a nephew to malignancies that seemed to strike out of the blue. It would take years for researchers to be able to answer fundamental questions about the killer that stalked his family.

    The political parent trap • Michigan Advance

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    Being a working mom requires a lot of juggling. For mothers in the Michigan Legislature, that usually means balancing long commutes, unexpected late-night sessions and weekend meetings with constituents alongside nursing, helping kids with homework, getting them to T-ball practice and much more.

    And so even with more women running for office than ever before, there’s still a big “mom gap” in the Legislature. To put a fine point on it, the Michigan Advance reported this week that in the last 100 years since the first woman was elected to the Legislature, only 27 women legislators have ever been mothers of school-aged children while serving. That’s the same number of male lawmakers who are fathers of school-aged children right now.

    Unfortunately, this isn’t a surprise when moms remain the majority of primary caregivers — something underscored during the pandemic when thousands of parents suddenly were working at home. And yet it was moms in most households who ended up caring for the kids while scrambling to get their work done and make it through Zoom calls without their toddler shrieking or waddling into frame.

    The ‘mom gap’: Few mothers have served in the Michigan Legislature while raising children

    When I first started covering the Michigan Capitol two decades ago, it was a decidedly male-dominated club, with the median age probably somewhere in the 40s (if I’m being generous). After the Great Recession hit and layoffs decimated the press corps, you could count the number of female members on one hand (and I was the only mom for awhile).

    Things have changed a lot these days, with women, mostly in their 20s, dominating our ranks. But there’s still a big mom gap in the media. And I completely understand why.

    Being a reporter isn’t a 9 to 5 job and covering politics can be … a lot. There are plenty of people without kids who leave journalism because they say it’s too hard to achieve a good work-life balance. When you have tiny humans who need you to survive, that frankly becomes impossible at times.

    My journalism career almost ended up being over before it started, after I became pregnant with my first child shortly after getting my first real job at an Iowa newspaper. As I was running around covering state budget cuts and school events, while my husband and I excitedly painted the nursery and stocked up on newborn clothes, I didn’t realize that some editors had decided I must not be that dedicated to my career. (So much for having it all).

    For the next couple of years, I tried to impress them, volunteering for any assignment. But occasionally, I had to take my daughter with when my childcare fell through, like when I was covering former Vermont Gov. Howard Dean campaigning during the 2004 Iowa caucuses. (While he seemed charmed by my baby, he still didn’t really answer my question on his health care plan).

    At the next couple newspapers I worked for, I learned my lesson and didn’t even put photos of my kid on my desk. I can’t definitely say it helped me land better jobs …. but I don’t think it hurt.

    By the time I started covering the Michigan Capitol full-time, I was a single mom with no family in the state. I was writing three or four stories a day, plus taking on freelance work so I could plop something into my daughter’s college fund, so my day never ended when she was done with her after-school program. That meant a lot of late nights and weekends working at home, which my boss didn’t like and my single coworkers resented (even though, if anything, I worked even harder just to prove myself).

    And then there was plenty of mom guilt, as I had to rush to my kid’s winter concert because the Legislature went late or realized I forgot the plates for her school birthday party and tried not to break down in the car.

    Meanwhile, the only female politician I covered who was navigating single parenthood was then-Sen. Gretchen Whitmer, whose kids are the same age as mine. We would occasionally have candid conversations about the struggle after session or committee hearings.

    Editor Susan J. Demas would sometimes have to bring her kids as she covered events, like President Barack Obama at the University of Michigan | Susan J. Demas

    But motherhood is still viewed by too many as a political weakness. One of my former colleagues dismissed Whitmer as a lightweight and told me he knew she’d “never go anywhere in politics when she got pregnant after getting elected” (which sounded very familiar). I haven’t checked back with him since she became the 49th governor of Michigan and landed on everyone’s list of 2028 presidential hopefuls.

    And who could forget when Ingham County Clerk Barb Byrum was grilled a decade ago about possibly running for statewide office when she had a 3- and a 5-year-old. “But don’t the children want Mom at home?” was an actual question she was asked. (You’ll be terribly surprised to hear the reporter was male).

    The satirical site Wonkette summed up the episode with one of the world’s greatest headlines: “Michigan Lady Might Run For Office Even Though She Has Children, What Is Even Up With That?”

    I’d like to think things have changed enough that women today don’t have to endure such blatant sexism, but I think we all know that’s not true. I will say that women are more open now about what to expect when you’re expecting while running for office or chasing after a toddler.

    Being open about the challenges of motherhood helps other women in politics feel less alone. And working toward solutions, like more affordable childcare and better postpartum health care, can help parents all across the state.

    So many powerful women in Michigan and states across the country were willing to share their stories with us at States Newsroom for our Mother’s Day series, “The Mother Load.”

    There are plenty of people without kids who leave journalism because they say it’s too hard to achieve a good work-life balance. When you have tiny humans who need you to survive, that frankly becomes impossible at times.

    “My kids come before work even. That may not be great for everyone to hear,” state Rep. Rachelle Smit (R-Martin) told the Advance. “If my own priorities in my own personal life and as a wife and a mom are not in line, I don’t feel like I can be the best at my job, either.”

    I respect the hell out of that.

    When I bought Inside Michigan Politics back in 2013, I was finally able to primarily work from home and could be there for my kids the way I wanted to be. I was there to get my daughter and new stepson off to school and pick them up afterward. I never had to miss a soccer or football game. By the time I was recruited to start the Michigan Advance over five years ago, my kids were both in high school, but they still (somehow) wanted me around, so having flexibility meant everything.

    Of course, not everyone is this lucky, which is one reason why moms of young kids continue to be a minority in both the Michigan Legislature and Capitol press corps.

    I know we can do better.

    Viking founder Torstein Hagen on the luxury cruise line specifically for baby boomers

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    A veteran cruise attendee at just 24 years old, Julia Wilcox is used to her inbox flooding with promotional emails from cruise lines courting loyal customers. But Wilcox, who vlogs her cruise experiences on TikTok, said one cruise line takes a more idiosyncratic approach to their marketing: Two or three times a month, she’ll get thick and glossy paper envelopes in the mail from Viking Cruises, the luxury cruise line which with she took a 10-day trip in January 2023. It’s the only cruise company that sends her paper mail—and it does so persistently.

    “I get so much paper mail from Viking. I’m like, this is insane,” she told Fortune. “You could send me on a free cruise for the amount of paper and things that you send me.”

    While anomalous in its marketing strategy, the logic behind Viking’s insistence on sending snail mail makes more sense after Wilcox, a Gen Z TikToker, admitted she’s not the company’s target audience. In fact, she was four decades younger than the cruise guests’ median age of 60 or 70. That’s just how Viking wants it.

    “They’re the richest group we have around,” Viking CEO Torstein Hagen said in a May 1 CNBC Squawk on the Street interview. “They have the money; they have the time.” 

    Hagen, who at 81 surpasses his baby boomer target audience, has tailored the cruise to the tastes of the older demographic that holds 70% of the country’s disposable income. There are no kids under 18 allowed, and no casinos aboard. Instead, Viking’s line of 92 vessels—traveling to all seven continents and employing a staff of 10,000—offers walking tours of European cities and cheese tastings.

    “It’s a quite serene environment for people up in their ages,” Hagen said, “and for curious people who want to go to destinations, not [who want] to go on waterslides and the like.”

    Hagen’s strategy has certainly worked thus far. Viking, with a $10.4 billion valuation, raised $1.5 billion in its initial public offering on May 1, the highest of any company this year. Per an SEC filing from last month, Viking experienced 14.4% growth from 2015 to 2023, the biggest leap of any luxury river or ocean cruise during that period.

    “We have a very, very clear focus, and that is reflected in all our customer ratings, the rewards we get, and so forth,” Hagen told CNBC. “It doesn’t make us as large as the others, but it certainly makes us more attractive to the consumer.” 

    Viking did not respond to Fortune‘s request for comment.

    The precision and analytical approach Hagen brings to the company reflects his initial pursuit of physics from the Norwegian Institute of Technology before he came to the U.S. and got his MBA at Harvard. Originally from outside of Oslo, the Norwegian developed his business intuition through failure before success. As CEO of cruise line Royal Viking in the 1980s, Hagen arranged for a $240 million management buyout that failed when a competitor made a surprise purchase of the company. He was soon ousted from the role.

    Hagen, who operates the company alongside daughter Karine Hagen, founded Viking in 1997 at 54. He considered it a humble venture composed of  “two guys with two mobile phones and four river ships,” according to the company prospectus. From its maiden voyage, Viking’s goal was, in Hagen’s words, to be a thinking person’s cruise, not a drinking person’s cruise.

    The flow

    Viking has benefited from opportune timing for the cruise industry, namely its recovery from pandemic lockdowns that had wealthy vacationers itching for indulgent respites. Patrick Scholes, managing director of lodging and leisure equity research at Truist Securities, is bullish on the industry’s future because of that high demand.

    “People want a vacation,” he told Fortune. “They’re looking for something different that they hadn’t done for the first two, three years of COVID, which certainly was going on a cruise ship.”

    Cruises developed a reputation during the pandemic, as their closed quarters, conducive to contagious disease, sometimes resulted in boats docking early. Even Viking took a hit after 100 passengers on a June 2023 cruise battled norovirus. Companies sweetened deals to win back customers, offering discounts and promises of private beaches. While restaurants and hotel resorts were slow to recover from the pandemic because of labor shortages, cruise ships’ presence on foreign waters meant not having to abide by U.S. wages and employing ample staff of mostly foreign workers. During Wilcox’s Viking cruise, she marveled at the consistent and frequent turndown and cleaning services.

    “In that value proposition is the high, consistent level of staffing and service on a cruise ship,” Scholes said. “You’ve been to a restaurant, you’ve been to a hotel—staffing is a problem, is a challenge after COVID. And cruise lines have not had that problem.”

    Bob Levinstein, CEO of travel agency CruiseCompete, told Fortune Viking especially lives up to its value promise, mastering food, service, excursions, and communication into a reliable product.

    “They just really have it nailed down,” he said.

    More growth for the company is on the way. Having weathered the pandemic, Viking has 24 ships on order, an option for another dozen, and ambitious plans to expand its Chinese customer base to 150,000 passengers by 2025. Viking’s resilience in a tough time for the industry made the decision to go public a no-brainer for Hagen.

    “The private equity firms, at some stage, have to create liquidity from their investments, and they’ve been in now for eight years—so it was as good a time as any,” Hagen told Fortune last month. “During the pandemic, it was not easy, and I think now coming out of that and having good results, that was the natural thing to do.”

    The ebb

    But tides turn, and the economic waters buoying the cruise business are no exception. As cruise companies accommodate growing demand by commissioning more ships, the promotional packages and companies’ pricing power will ebb, Scholes predicted.

    “This is just economic capitalism,” he said. “Come 2029, we’re going to see a lot of new ships, and that’s going to be a lot of cabins to fill. It’ll be difficult to raise prices.”

    There’s a reason for Viking to stay level-headed through the industry’s maturation, Levinstein argued. The company’s $1.5 billion IPO was well timed, he said, but it likely won’t make waves for Viking’s future. It’s likely just a way for ownership to stay liquid and pad their wallets.

    “That’s only about four of the ocean ships—maybe a little less if prices have gone up since they made their last deal,” he said. “But it’s not game-changing money.”

    The cruise’s humble but established amenities aren’t foolproof, either. “The food definitely was a miss,” Wilcox said of her time aboard a Viking, resulting in the “worst” room service hot dog she’d “ever had.” She heard from other cruisers that the specialty menus the cruise promised to change nightly, but the food items offered have been the same for a decade.

    The slip-up in Viking’s reputation of rock-solid amenities may be a strike against the “cookie-cutter” model Hagen touts as a reason for the cruise line’s success, but the CEO remains clear-eyed on the company’s philosophy of streamlined, steadfast service.

    “In my belief, the moment you try to do everything for everybody, you know what happens?” he said. “You do nothing well.” 

    If Trump is found guilty, then what? He’s bracing voters for the worst

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    WASHINGTON – When former president and 2024 candidate Donald Trump claims that the judicial system wants to put him in jail, he’s not just protesting the ongoing hush money trial.

    Trump is also bracing voters for the possibility of a guilty verdict.

    At political rallies, on social media, and to reporters gathered at the courthouse in New York, Trump’s attacks on the trial are designed in part to persuade voters to disregard a bad verdict, according to aides, legal analysts, and a review of his remarks.

    “The New York judicial system has been absolutely abused,” Trump told reporters Friday. “The whole world is watching.”

    Trump is accused of improperly influencing the 2016 presidential election by paying hush money to women, seeking to keep them from publicizing sexual liaisons. He has pleaded not guilty.

    Trump targets moderate voters

    Trump has not explicitly said he expects a guilty verdict, and occasionally expresses public optimism about the outcome of the trial. “Many good things are going on in the case,” the former said Thursday.

    But he has spent much more time claiming political bias by the judge, prosecutors and the jury pool, and argues without evidence that his political opponents will do anything to put him behind bars.

    Trump and supporters have also predicted that a guilty verdict would be reversed on appeal, a step that would not be necessary if he is acquitted or if there is a hung jury.

    Legal experts said Trump has little choice but to brace for a guilty verdict, given how it might affect his campaign against President Joe Biden.

    In claiming the trial is unfair, Trump’s targets include moderate and independent voters who have long been skeptical of his behavior.

    “His base will believe everything he says,” said Bradley P. Moss, a Washington, D.C., lawyer who specializes in government transparency issues. “The question is independents.”

    Trump appeals to New Jersey

    Trump’s latest effort to brace supporters for bad legal news comes Saturday at a campaign rally in Wildwood, N.J.

    This will be Trump’s first campaign rally since a May 1 airport event in Freeland, Mich., where he went on at length about his legal concerns.

    While discussing the ongoing New York trial, Trump said “we haven’t had a decision here, but the decision here can probably only be one thing, I guess … ’cause … this whole thing – it’s a rigged deal; it’s a rigged deal.”

    Trump also equated the hush money trial to the major civil cases he has lost, one over bank loan fraud and two others regarding defamation and sexual abuse of writer E. Jean Carroll.

    Altogether, civil courts have ordered Trump to pay more than $500 million in damages.

    “Hopefully, we’ll win all of that stuff easily on appeal,” Trump said at one point in Michigan.

    ‘Orchestrating Trump’s conviction’

    Trump is also trying to discount the New York verdict by citing legal analysts who agree with his criticisms of the case. Some of them say they believe Trump is bound for a guilty verdict because of the way the trial is being conducted by New York Supreme Court Judge Juan Merchan.

    In a Truth Social post on May 5, Trump cited comments by former federal prosecutor Andrew McCarthy that described “how Judge Merchan is orchestrating Trump’s conviction.”

    Trump also attacks the gag order against him, describing it as an attempt to fix the case. Merchan has found Trump in violation of the gag order ten items over attacks on witnesses and court personnel.

    In reading out criticisms of the case on Friday, Trump said he has to be careful because of the gag order: “If I mention the wrong word, they’ll come out here and they’ll take me out to jail some place, because that’s the way it is with this judge – he wants to show how tough he is.”

    Rerun: Trump previously warned of indictments

    The political world has seen this kind of courtroom drama previously, back before Trump was first indicted.

    In late 2022 and early 2023, Trump braced supporters for the likelihood of indictments, and sought to taint them ahead of time by decrying the investigations as politically motivated.

    In June of 2023, three months after the hush money indictment, Trump told a Republican group in New Hampshire that “there could be others coming,” and described them as “election interference.”

    Trump wound up under indictment in four separate criminal cases.

    In addition to the New York hush money case, the former president faces trial in South Florida on charges of mishandling classified information, and two cases in Washington, D.C., and Georgia on federal and state charges respectively of trying to steal the 2020 election from Biden.

    Trump is seeking to delay the latter three trials to beyond Election Day on Nov. 5. He may succeed, leaving the New York case as his only trial during the election campaign.

    Politically, the indictments may have helped Trump, at least with hardcore Republican voters who fueled his drive toward the 2024 presidential nomination.

    Polls and primaries also reflected skepticism of Trump from moderate and independent voters, some of whom continued to support former South Carolina Gov. Nikki Haley even after she dropped out of the race.

    Political impact

    In the meantime, Trump is preparing for an actual verdict in the New York case – and a political impact that is unknowable.

    Jonathan Turley, a law professor at George Washington University who is often cited by Trump, said the former president’s complaints about a “weaponized justice system” are legitimate.

    Even if Trump is convicted, Turley said, he has a good chance to have the case reversed on appeal because “the entire case is becoming a dumpster fire.”

    Turley also said “no one would bet on an acquittal from a New York jury on Trump,” but it’s possible that jurors will deadlock and be unable to render any verdict.

    Trump could legitimately celebrate a hung jury as a victory, he said.

    Whatever the merits of the case, Moss said Trump has been treated fairly by the justice system. For example, Moss said that any other defendant would be in jail now for violating gag orders the way Trump has. “If anything,” he said, “he’s been handled with kid gloves.”

    Moss also said that, while Trump’s base will stick with him no matter what, it’s hard to see how a guilty verdict would help him.

    “I don’t see anything good coming out of this for Trump,” Moss said. “The question is how much damage it does.”

    Contributing: Bart Jansen

    Biden in Seattle: Cease-fire possible ‘tomorrow’ if Hamas frees hostages

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    A cease-fire in the Israel-Hamas war could be possible “tomorrow” if the militant group releases hostages, President Joe Biden said Saturday as new evacuation orders were issued in Gaza’s southern city of Rafah.

    “Israel said it’s up to Hamas,” he said at a private fundraiser in Medina, hosted by former Microsoft President Jon Shirley. “If they wanted to do it, we could end tomorrow.”

    It was Biden’s second fundraiser stop in the Seattle area this weekend, as part of a West Coast fundraising swing as he and Vice President Kamala Harris gear up for their reelection bid against presumptive Republican nominee former President Donald Trump. 

    At a reception in downtown Seattle on Friday, Biden boasted about his administration’s record on jobs and climate and slammed Donald Trump as a threat to democracy.

    He made no mention of the war in his Friday speech at Lotte Hotel Seattle, while protesters gathered outside criticized the president for his support of Israel’s war against Hamas.

    Some said it was too little, too late, of Biden’s decision this past week to not provide offensive weapons to Israel for Rafah. His administration on Friday said there was “reasonable” evidence that Israel had breached international law protecting civilians — Washington’s strongest statement yet on the matter.

    Tens of thousands more people were told to evacuate Saturday, as Israel prepared to expand its military operation deeper into what is considered Gaza’s last refuge, according to The Associated Press.

    Biden’s remarks Saturday were limited.

    “I guess I shouldn’t get into all of this,” he said.

    Instead, he continued with a 16-minute speech, repeating his warning of the consequences if Trump wins this fall.

    “Folks, Trump is running for revenge,” Biden said. “I’m running to lead us to the future.”

    Looking ahead, Biden again teased a potential job for Gov. Jay Inslee in his second-term administration, praising the outgoing governor as “the best governor in America on the environment and one of the best overall.

    “I warn you all, if you like seeing him around Washington state, don’t elect me. But if you don’t mind him leaving the state a little bit, elect me because I’m going to try to grab him.”

    In attendance were Sen. Maria Cantwell, U.S. Reps. Kim Schrier, Marilyn Strickland, Suzan DelBene and Adam Smith, Swinomish Indian Tribal Community Chair Steve Edwards and major Democratic donors, including Microsoft President Brad Smith, Amazon general counsel David Zapolsky and former Costco CEO Jim Sinegal.

    Biden had no public events during his Western Washington visit. He departed Seattle-Tacoma International Airport on Air Force One on Saturday afternoon.

    Seattle Times political reporter Jim Brunner contributed to this story, which includes material from The Associated Press.

    2024 WA Election | Local Politics

    Federal judge blocks White House plan to curb credit card late fees

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    A federal judge in Texas has blocked a new government rule that would slash credit card late-payment charges, a centerpiece of the Biden administration’s efforts to clamp down on “junk” fees. 

    Judge Mark Pittman of the U.S. District Court for the Northern District of Texas on Friday granted an injunction sought by the banking industry and other business interests to freeze the restrictions, which were scheduled to take effect on May 14. 

    In his ruling, Pittman cited a 2022 decision by the U.S. Court of Appeals for the Fifth Circuit that found that funding for the Consumer Financial Protection Bureau (CFPB), the federal agency set to enforce the credit card rule, is unconstitutional. 

    The regulations, adopted by the CFPB in March, seek to cap late fees for credit card payments at $8, compared with current late fees of $30 or more. Although a bane for consumers, the fees generate about $9 billion a year for card issuers, according to the agency.

    After the CFPB on March 5 announced the ban on what it called “excessive” credit card late fees, the American Bankers Association (ABA) and U.S. Chamber of Commerce filed a legal challenge. 

    The ABA, an industry trade group, applauded Pittman’s decision.

    “This injunction will spare banks from having to immediately comply with a rule that clearly exceeds the CFPB’s statutory authority and will lead to more late payments, lower credit scores, increased debt, reduced credit access and higher APRs for all consumers — including the vast majority of card holders who pay on time each month,” ABA CEO Rob Nichols said in a statement. 

    Consumer groups blasted the decision, saying it will hurt credit card users across the U.S.

    “In their latest in a stack of lawsuits designed to pad record corporate profits at the expense of everyone else, the U.S. Chamber got its way for now, ensuring families get price-gouged a little longer with credit card late fees as high as $41,” Liz Zelnick of Accountable.US, a nonpartisan advocacy group, said in a statement. “The U.S. Chamber and the big banks they represent have corrupted our judicial system by venue shopping in courtrooms of least resistance, going out of their way to avoid having their lawsuit heard by a fair and neutral federal judge.”


    “Junk fees” cost Americans billions every year

    According to consumer advocates that support the CFPB’s late-fee rule, credit card issuers hit customers with $14 billion in late-payment charges in 2019, accounting for well over half their fee revenue that year. Financial industry critics say such late fees target low- and moderate-income consumers, in particular people of color.

    Despite Pittman’s stay on Friday, analysts said the legal fight over late fees is likely to continue, with the case possibly heading to the Supreme Court. 

    “We believe this opens the door for the CFPB to seek to lift the preliminary injunction if the Supreme Court rules in the coming weeks that Congress properly funded the agency,” Jaret Seiberg of TD Cowen Washington Research Group said in a report following the decision. “It is why we believe this is not the end of the fighting over whether the fee cut will take effect before full consideration of the merits of the lawsuit.”

    —With reporting by CBS News’ Alain Sherter

    Amid Scrutiny, Paul Manafort Leaves Republican Convention Role

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    Paul Manafort, the longtime Republican strategist and chairman of Donald J. Trump’s 2016 campaign, who had assumed an unpaid role advising party officials on the nominating convention, has stepped aside.

    Mr. Manafort’s move came after The New York Times reported that he had been on the ground in Milwaukee last week for planning meetings for the convention, as well as a Washington Post story that said he was involved in work connected to foreign officials and businesses.

    “As a longtime, staunch supporter of President Trump and given my nearly 50 years experience in managing presidential conventions, I was offering my advice and suggestions to the Trump campaign on the upcoming convention in a volunteer capacity,” Mr. Manafort told The Times, in a statement provided by the Trump campaign.

    “However, it is clear that the media wants to use me as a distraction to try and harm President Trump and his campaign by recycling old news,” he said.

    “And I won’t let the media do that. So, I will stick to the sidelines and support President Trump every other way I can” to help defeat President Biden, the statement said.

    Trump campaign officials declined to comment.

    Mr. Manafort helped stave off efforts to thwart Mr. Trump’s nomination at the 2016 convention, went to prison for various financial crimes and was pardoned by Mr. Trump.

    His role advising the convention planners had been in the works for weeks. Mr. Manafort has extensive experience with conventions, and the Trump team was looking for a seasoned official to help in July.

    Mr. Manafort, 75, was an adviser for Bob Dole’s presidential campaign in 1996 and managed the Republican convention that year. He was brought on to Mr. Trump’s 2016 campaign in the spring as the candidate was facing an effort to deprive him of the delegates necessary to become the nominee at the convention.

    Mr. Manafort’s work with Mr. Trump’s campaign that year was relatively short-lived. In August 2016, he was ousted in part over headlines about his work for a pro-Russian political party in Ukraine. Later, Mr. Manafort was ensnared in the investigation by Robert S. Mueller III, the special counsel, into ties between Mr. Trump’s campaign and Russian officials.

    Mr. Manafort was one of only a few Trump advisers who were sentenced to prison, for crimes unrelated to the campaign. Mr. Trump praised him for not cooperating with the government investigation and pardoned Mr. Manafort at the end of his presidential term. The Washington Post reported this week that Mr. Manafort has re-engaged with work for foreign interests and political figures, including a Chinese entertainment streaming service. He denied working for the service, but told the paper he had made introductions to potential U.S. partners.

    Mr. Manafort was never expected to be in a management role over the convention this time. But he was expected to be involved with advising the staffing structure of the platform committee, although not the substance of the platform itself, according to a person briefed on the matter.

    The platform debate will be especially significant for the party this year. In 2020, the Republican Party did not adopt a new platform amid a series of changes to the convention because of the coronavirus pandemic, and simply reverted to the platform from 2016.

    And in a controversy that received little attention at the time, language was inserted into the platform watering down language supporting Ukraine with military aid against Russian incursions. That language change was among the issues Mr. Mueller sought information about during his investigation.

    Ethereum network dips to 6-month low – Here’s how it affected ETH

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    • Ethereum’s fees hit a six-month low in the past seven days.
    • ETH was down by 6%, and metrics looked bearish. 

    As L2s gain popularity, Ethereum’s [ETH] network usage plummets, reaching a six-month low.

    This aligned with Vitalik Butarin’s 2020 roadmap, which aimed to enhance scalability by offloading transactions from the mainnet.

    In the meantime, ETH bears entered the market and pushed the token’s price down. 

    Ethereum’s network activity dwindles 

    IntoTheBlock recently posted a tweet highlighting the fact that ETH’s fees plummeted to a 6-month low this week as it dropped by over 29%.

    The drop in ETH’s fees reflected a shift in activity to over 50 live Layer 2 networks. To see what’s going on with Ethereum, AMBCrypto analyzed Artemis’ data.

    Notably, overall activity on the network had dropped, alongside the blockchain’s Daily Active Addresses declined last week.

    Source: Artemis

    ETH’s Daily Transactions also followed a similar trend. The decline in fees also caused the blockchain’s revenue to drop last week.

    Notably, it was surprising to see the blockchain’s usage drop when its gas price declined. As per Ycharts, ETH’s gas price dipped from 47.5 Gwei to 8.5 Gwei over the last month. 

    Ethereum turns bearish 

    While the blockchain’s network activity dwindled, its price action also turned bearish. According to CoinMarketCap, ETH’s price has dropped by more than 6% in the last seven days.

    At the time of writing, it was trading at $2,920.99 with a market capitalization of over $350 billion.

    AMBCrypto’s look at Glassnode’s data revealed a possible reason behind this price decline. We found that ETH’s number of addresses with balances greater than $100k sank over the last seven days.

    This clearly indicated that whales were selling their holdings.

    Source: Glassnode

    Not only whales, but selling sentiment was overall dominant in the market. Our analysis of Sentiment’s data pointed out that ETH’s Exchange Inflow spiked twice last week.

    Additionally, its Supply on Exchanges increased. This hinted at a sell-off, which might have triggered the price correction.

    The negative price action also had a negative impact on market sentiment. Ethereum’s Weighted sentiment dropped in the last few days, suggesting that bearish sentiment around the token was dominant.

    Source: Santiment

    AMBCrypto then analyzed ETH’s daily chart to see whether a further price drop is likely to happen.

    We found that its Relative Strength Index (RSI) was resting under the neutral mark. Its Money Flow Index (MFI) also registered a downtick.


    Read Ethereum’s [ETH] Price Prediction 2024-25  


    The king of altcoins was resting under its 20-day Simple Moving Average (SMA) at press time, indicating a further price decline.

    ETH’s price had touched the lower limit of the Bollinger Bands, which can trigger a trend reversal.

    Source: TradingView

    Israel-Hamas war: Israel orders new evacuations in Gaza city of Rafah

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    RAFAH, Gaza Strip (AP) — Israel ordered new evacuations in Gaza’s southern city of Rafah on Saturday, forcing tens of thousands more people to leave as it prepared to expand its military operation closer to what is considered Gaza’s last refuge, in defiance of growing pressure from close ally the United States and others.

    As pro-Palestinian protests continued against the war, Israel’s military also said it was moving into an area of devastated northern Gaza where it asserted that the Hamas militant group has regrouped after seven months of fighting.

    Israel has now evacuated the eastern third of Rafah, and top military spokesman Rear Adm. Daniel Hagari said dozens of militants had been killed there as “targeted operations continued.” The United Nations has warned that the planned full-scale Rafah invasion would further cripple humanitarian operations and cause a surge in civilian casualties.

    Rafah borders Egypt near the main aid entry points, which already are affected. Israeli troops have captured the Gaza side of the Rafah crossing, forcing it to shut down. Egypt has refused to coordinate with Israel the delivery of aid though the crossing because of “the unacceptable Israeli escalation,” the state-owned Al Qahera News television channel reported Saturday, citing an unnamed official.

    U.S. President Joe Biden has said he won’t provide offensive weapons to Israel for Rafah. On Friday, his administration said there was “reasonable” evidence that Israel had breached international law protecting civilians — Washington’s strongest statement yet on the matter.

    In response, Ophir Falk, foreign policy adviser to Israel’s prime minister, told The Associated Press that Israel acts in compliance with the laws of armed conflict and the army takes extensive measures to avert civilian casualties, including alerting people to military operations via phone calls and text messages.

    More than 1.4 million Palestinians — half of Gaza’s population — have been sheltering in Rafah, most after fleeing Israel’s offensives elsewhere. The latest evacuations are forcing some people to return north where areas are devastated from previous Israeli attacks. Aid agencies estimate that 110,000 had left before Saturday’s order that adds 40,000.

    “Do we wait until we all die on top of each other? So we’ve decided to leave. It’s better,” said Rafah resident Hanan al-Satari as people rushed to load mattresses, water tanks and other belongings onto vehicles.

    “The Israeli army does not have a safe area in Gaza. They target everything,” said Abu Yusuf al-Deiri, earlier displaced from Gaza City.

    Many people have been displaced multiple times. There are few places left to go. Some fleeing fighting earlier in the week erected tent camps in the city of Khan Younis — half destroyed in an earlier Israeli offensive — and the central city of Deir al-Balah, straining the remaining infrastructure.

    Some Palestinians are being sent to what Israel has called humanitarian safe zones along the Muwasi coastal strip, which is already packed with about 450,000 people in squalid conditions. The garbage-strewn camp lacks basic facilities.

    Georgios Petropoulos, an official with the U.N. humanitarian agency in Rafah, said aid workers had no supplies to help people set up in new locations. “We simply have no tents, we have no blankets, no bedding, none of the items that you would expect a population on the move to be able to get from the humanitarian system,” he said.

    The World Food Program has warned it would run out of food for distribution in southern Gaza by Saturday, Petropoulos said — a further challenge as parts of Gaza face what the WFP chief has called “full-blown famine.” Aid groups have said fuel will be depleted soon, forcing hospitals to shut down critical operations and halting trucks delivering aid.

    Heavy fighting was also underway in northern Gaza, where Hagari said the air force was carrying out airstrikes. Israeli army spokesman Avichay Adraee told Palestinians in Jabaliya, Beit Lahiya and surrounding areas to head to shelters in the west of Gaza City, warning that Israel would strike with “great force.”

    Northern Gaza was the first target of Israel’s ground offensive launched after Hamas and other militants attacked southern Israel on Oct. 7, killing around 1,200 people, mostly civilians, and taking another 250 hostage. They still hold some 100 captives and the remains of more than 30. Hamas on Saturday said hostage Nadav Popplewell had died after being wounded in an Israeli airstrike a month ago. Hamas provided no evidence for the claim.

    Israel’s bombardment and ground offensives have killed more than 34,800 Palestinians, mostly women and children, according to Gaza’s Health Ministry, which doesn’t distinguish between civilians and combatants in its figures. Israel blames Hamas for civilian casualties, accusing it of embedding in densely populated residential areas.

    Civil authorities in Gaza gave more details of the mass graves that the Health Ministry announced earlier in the week at Shifa hospital, the largest hospital in northern Gaza and the target of an earlier Israeli offensive. Authorities said most of the 80 bodies had been patients who died from lack of care. The Israeli army said “any attempt to blame Israel for burying civilians in mass graves is categorically false.”

    At least 19 people, including eight women and eight children, were killed overnight in central Gaza in strikes that hit the areas of Zawaida, Maghazi and Deir al-Balah, according to Al Aqsa Martyrs Hospital and an AP journalist who counted the bodies.

    “Children, what is the fault of the children who died?” one relative said. A woman stroked the face of one of the children lying on the ground.

    Tens of thousands of people attended the latest anti-government protest in Israel on Saturday evening. Another round of cease-fire talks in Cairo ended earlier this week without a breakthrough.

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    Sam Mednick reported from Tel Aviv and Samy Magdy reported from Cairo. Jack Jeffery in Jerusalem contributed to this story.

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    Follow AP’s coverage of the war at https://apnews.com/hub/israel-hamas-war