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Wednesday, April 10, 2024

Uncover the $1 EV 2.0 Stock with Tremendous Potential

EV 2.0 has started its bull run. This could potentially be the next big EV opportunity (and it's not about cars). Could this $0.90 stock mimic TSLA's success? With $100 million in revs, it's an untapped market with big potential upside.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
 
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Top Market News Daily
Uncover the $1 EV 2.0 Stock with Tremendous Potential - Ad

EV 2.0 has started its bull run. This could potentially be the next big EV opportunity (and it's not about cars). Could this $0.90 stock mimic TSLA's success? With $100 million in revs, it's an untapped market with big potential upside. More Info ➔
Top Crypto Analyst Says Bitcoin Could Retest All-Time High, 'If It Holds Above $69K'

Renowned crypto analyst Michaël van de Poppe has indicated that Bitcoin (CRYPTO: BTC) could be on the verge of testing its all-time high, contingent on its ability to maintain a key price level. More Info ➔
What Stock Do These 3 Billionaires Have in Common? - Ad

This stock already boasts twice Tesla's returns, but now...three well-known billionaires are piling in. Brand-new analysis reveals the full story, including the names of these billionaires -- and the stock. More Info ➔
Congress summons Boeing's CEO to testify on its jetliner safety following new whistleblower charges

SAN FRANCISCO (AP) — A Senate subcommittee has summoned to testify about the company's jetliners in an inquiry prompted by new safety-related charges from a whistleblower. More Info ➔
Internet providers must now be more transparent about fees, pricing, FCC says

NEW YORK (AP) — Much like nutritional labels on food products, “broadband labels” for internet packages will soon tell you just what is going into the pricing of your service, thanks to new rules adopted by the Federal Communications Commission this week. More Info ➔
The Presidential Candidate You Should Really Be Worried About - Ad

Most Americans are overlooking the seemingly impossible candidate that should worry you. It's not Biden... Trump... Newsom... or even Michelle. It's someone even worse. New evidence of a secret plan indicates he could soon return, and finish what he started. More Info ➔
US Sends Seized Iranian Arms To Ukraine As New Aid Package Faces Delays In Congress

ok place last week, included thousands of infantry weapons and over half a million rounds of ammunition. This transfer is part of the ongoing military support from President Joe Biden's administration to assist Ukraine in the conflict against Russian forces. More Info ➔
Biden Slams Netanyahu's Gaza Offensive As 'Mistake,' Stating 'Allow Total Access To All Food And Medicine'

U.S. President Biden criticizes Netanyahu's approach to Gaza conflict, calling for a ceasefire and shift in U.S.-Israel relations. More Info ➔
China says economy 'stable,' rejects Fitch Ratings downgrade of its fiscal outlook

BANGKOK (AP) — China’s Finance Ministry denounced a report by that kept its sovereign debt rated at A+ but downgraded its outlook to negative, saying Wednesday that China’s deficit is at a moderate and reasonable level and risks are under control. More Info ➔
'Underappreciated Point:' Tesla Investor Relations Head Chuffed By Survey Showing 'Super High' Retention Rate Of EV Giant's Customers

According to the survey, Tesla maintains an 87% brand retention rate, outperforming non-electric automakers such as Lexus and Toyota. More Info ➔
Should You Buy Bitcoin in 2024? [Expert's Shocking Answer] - Ad

Bitcoin minted 100,000 millionaires and if you're not one of them, that ship has sailed. But there's another millionaire-minting crypto at our doorstep... research shows this coin could be 20X bigger than Bitcoin by the end of the decade. With crypto starting to heat up again, this could be the perfect time to get in. More Info ➔
Antony Blinken Raises Alarm Over North Korea, Iran And China's Military Aid To Russia

He pointed out that weapons and technologies bolstering Russia's defense sector are originating from North Korea, Iran, and China, which is a cause for concern for the U.S., UK, and their European allies. More Info ➔
Marjorie Taylor Green Pushes To Kick Out Speaker Mike Johnson: What Do Voters Think?

A new poll of Republican voters shows how the public feels about Speaker of the House Mike Johnson as Marjorie Taylor Greene threatens to get him voted out. More Info ➔
Why NetEase Stock Is Seeing Blue Skies

NetEase shares closed higher by 3.8% for Tuesday's session. The stock gained following a report suggesting the company and Blizzard Entertainment are expected to announce a new deal. More Info ➔
2 Russian businessmen linked to Alfa Group win court case over EU sanctions

BRUSSELS (AP) — Russian businessmen Mikhail Fridman and Petr Aven won a court case Wednesday over a European Union decision to sanction the pair for their alleged role in Russia’s war against Ukraine. More Info ➔
Kenyan hospital lays off 100 striking doctors as nationwide strike nears a month

NAIROBI, Kenya (AP) — A public hospital in Kenya’s capital, Nairobi, has laid off 100 doctors who are taking part in a that has been ongoing for almost a month, its management said Tuesday. More Info ➔
Jim Cramer Stands By Nvidia And Eli Lilly Despite Market Dips, Says 'Terrific Time To Take Some Profits'

Cramer observed that despite the losses, these stocks have a lot to offer. He noted that these stocks have surged so much that they've become susceptible to market volatility. More Info ➔

Monday, March 18, 2024

The Morning: The Realtors’ big defeat

Plus, Vladimir Putin, pandemic school closures and Irish crushes.
The Morning

March 18, 2024

Good morning. We're covering the significance of a real estate industry settlement — as well as Vladimir Putin, pandemic school closures and Irish crushes.

A house-lined street on an overcast day.
In New Jersey.  Tony Cenicola/The New York Times

'They laughed at me'

Free-market economic theory suggests that the American real estate market should not have been able to exist as it has for decades.

Americans have long paid unusually high commissions to real estate agents. The typical commission in the U.S. has been almost 6 percent, compared with 4.5 percent in Germany, 2.5 percent in Australia and 1.3 percent in Britain. As a recent headline in The Wall Street Journal put it, "Almost no one pays a 6 percent real-estate commission — except Americans."

If housing operated as an efficient economic market should, competition would have solved this problem. Some real estate brokers, recognizing the chance to win business by charging lower commissions, would have done so. Other brokers would have had to reduce their own commissions or lose customers. Eventually, commissions would have settled in a reasonable place, high enough for agents to make a profit but in line with the rest of the world.

That didn't happen. Instead, an average home sale in the U.S. has cost between $5,000 and $15,000 more than it would have without the inflated commissions. This money has been akin to a tax, collected by real estate agents instead of the government.

The situation finally seems to be ending, though. On Friday, the National Association of Realtors, the industry group that has enforced the rules that led to the 6 percent commission, agreed to change its behavior as part of an agreement to settle several lawsuits.

The settlement is important in its own right. Americans now spend about $100 billion a year on commissions. That number will probably decline by between $20 billion and $50 billion, Steve Brobeck, the former head of the Consumer Federation of America, told my colleague Debra Kamin.

There is also a broader significance to the settlement. It's a case study of a central flaw in free-market economic theory. That theory suggests that capitalist competition can almost always protect consumers from businesses that charge too much.

To be clear, competition is indeed a powerful force that frequently makes both consumers and businesses better off. That's why capitalist economies have such a better record than communist or socialist economies. Just look at South Korea and North Korea. (Are you familiar with the satellite images that compare the two Koreas at night?) Or consider the recent economic struggles of Venezuela.

Market competition, however, isn't the panacea that free-market advocates claim. Sometimes, businesses can amass enough economic power to squash competition — as real estate brokers did.

Power meets power

Decades ago, the National Association of Realtors set the standard commission at 6 percent, to be split between an agent representing the seller and an agent representing the buyer. If a home seller tried to negotiate, an agent would often issue a veiled threat: You won't find a good seller's agent to work with you, and buyers' agents won't show your house to clients.

Joanne Cleaver, for instance, tried to negotiate with agents when selling her house last year in Mint Hill, N.C., a suburb of Charlotte. "They laughed at me," Cleaver told The Times.

The Realtors' hardball tactics succeeded because they operate much of the network that's crucial to the housing market, such as the database of listings. They could keep out agents who would have competed on price.

The facade of the Realtor building. The sun brightly reflects in the glass.
In Chicago. Jamie Kelter Davis for The New York Times

The solution to this concentration of economic power often requires political power — namely, antitrust enforcement by the government. After years of refusing to change their tactics, the Realtors' agreed to a settlement now because they were vulnerable to government action.

A turning point was a federal trial last year in Kansas City. The jury found that the Realtors' association and several large members had conspired to keep commissions high and ordered them to pay at least $1.8 billion to home sellers in the Midwest. The verdict quickly led to more than a dozen other lawsuits. The Justice Department has also been investigating the Realtors.

The new trustbusters

That investigation is part of Washington's new focus on the problems with concentrated economic power.

Since the 1980s, antitrust enforcement has been unfashionable in the U.S. Free-market economic theory has been ascendant instead. But the results of this laissez-faire era have been disappointing for most Americans. Businesses have grown larger, and corporate profits have surged. Incomes and wealth for most Americans have grown only slowly.

In response, both liberals and conservatives have recently shown an interest in antitrust (as I described in a recent newsletter). The Biden administration has embarked on a competition agenda to reduce credit card fees, drug prices and more. The administration has become more aggressive about challenging mergers, too. Some Republicans also worry that big business has become too powerful.

This new movement remains in its early stages, and it's too soon to know how successful it will be. But the real estate settlement looks like the movement's biggest victory yet.

For more: The Times explains how the process of selling a home may change.

Continue reading the main story

THE LATEST NEWS

Russia

Vladimir Putin gives a speech from a lectern.
Vladimir Putin Alexander Zemlianichenko/Associated Press

Israel-Hamas War

More International News

An aircraft carrier in the middle of a sea.
In the Red Sea.  Kenny Holston/The New York Times

A.I.

Education

Other Big Stories

An older woman, leaning over a pool table, draws back a cue.
Game time.  Hilary Swift for The New York Times

Opinions

Sci-fi-like solutions to climate change, such as blocking the sun, are becoming normalized. Before we trust them, we need to learn more, Jeremy Freeman writes.

The army reservist who committed a mass shooting in Maine had brain damage. The U.S. needs to protect its soldiers from injuries to protect its civilians, Daniel S. Johnson writes.

Gail Collins and Bret Stephens discuss TikTok and Mike Pence.

Here is a column by David French on Trump Republicans' about-face over TikTok.

For readers of The Morning, enjoy exceptional savings for a limited time.

Take advantage of the complete Times experience with our sale. Save on your first year of unlimited access to news, Games, Cooking and more. Subscribe now.

MORNING READS

A TV still showing Col. Muammar el-Qaddafi, in a white suit, walking in a grassy field with Barbara Walters, who is wearing a pink skirt suit and pearls.
Barbara Walters with Col. Muammar el-Qaddafi in 1989. Kimberly Butler/Getty Images

Collection: People recently browsed and bought attire owned by Barbara Walters, the trailblazing TV news anchor.

Raunchy Christians: A surprising number of evangelicals are rejecting modesty and turning toward the risqué.

Chasing powder: At the Alta resort in Utah, anyone over 80 skis free.

Relationships: Many young people are tired of dating apps.

Metropolitan Diary: When the city stopped talking.

Lives Lived: Margaret Grade was a neuropsychologist who made a sharp career pivot and opened a cozy, eclectic California inn that served farmers as well as film stars. She died at 72.

SPORTS

March Madness: UConn, last year's champion, was named the No. 1 overall seed in the men's N.C.A.A. tournament. In the women's bracket, undefeated South Carolina is No. 1.

Women's bracket: Iowa is a No. 1 seed, but experts say it has a particularly tough draw. Caitlin Clark's squad may have to face L.S.U., which beat her team in last year's championship, to reach the Final Four.

Go deeper: The Athletic broke down strengths and weaknesses for all 68 teams in the men's field and the women's field.

Join our pool: We've made groups on ESPN's Tournament Challenge for readers of The Morning to compete with one another. Here are links for the men's and women's tournaments. The winners will receive a Times-themed prize. (After you've completed your brackets, let us know with this Google form so we can contact you if you win.)

Continue reading the main story

ARTS AND IDEAS

Paul Mescal, left, with messy hair and a beard, posing with his arms on the shoulder of Andrew Scott, who has stubble and slick brown hair. Mr. Mescal is wearing a cropped black vest over a white T-shirt and Mr. Scott is wearing a white tank top beneath a black vest that reveals his bare arms.
Paul Mescal, left, and Andrew Scott. Ryan Pfluger for The New York Times

Big Irish energy: Irish actors have starred in some of the biggest movies of the past year — including "Oppenheimer" and "Saltburn." In doing so, Paul Mescal, Andrew Scott, Cillian Murphy and Barry Keoghan have ushered in a moment for Irish crushes. TikTok is now full of videos analyzing why, as one said, "Irish men just hit different." Read more about the internet's latest infatuation.

More on culture

An empty frame hangs above three champagne colored chairs.
At the Isabella Stewart Gardner Museum, Boston. Tony Luong for The New York Times
  • Decades ago, two men stole a Vermeer and three Rembrandts in the largest art theft in history. Today, the frames still hang empty.
  • Paul Simon, the singer and songwriter, invited a filmmaker to capture the making of his album "Seven Psalms." Simon struggled on camera because he was losing his hearing.

THE MORNING RECOMMENDS …

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David Malosh for The New York Times

Pan-sear chicken with a garlicky, lemony anchovy sauce.

Score these deals at REI.

Limit your exposure to forever chemicals.

Take our news quiz.

GAMES

Here is today's Spelling Bee. Yesterday's pangrams were nonapology and polygonal.

And here are today's Mini Crossword, Wordle, Sudoku and Connections.

Thanks for spending part of your morning with The Times. See you tomorrow. — David

P.S. On the inaugural episode of the podcast "The Liberal Patriot with Ruy Teixeira," David Leonhardt talked about the 2024 campaign and more.

Sign up here to get this newsletter in your inbox. Reach our team at themorning@nytimes.com.

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