Benjamin Hall, Author at Cactus three

After China Evergrande, Real Estate Crisis ‘Has Not Touched Bottom’

30

Jan

Investments and Business

After China Evergrande, Real Estate Crisis ‘Has Not Touched Bottom’

The unwavering belief of Chinese home buyers that real estate was a can’t-lose investment propelled the country’s property sector to become the backbone of its economy.But over the last two years, as firms crumbled under the weight of massive debts and sales of new homes plunged, Chinese consumers have demonstrated an equally unshakable belief: Real estate has become a losing investment.This sharp loss of faith in property, the main store of wealth for many Chinese families, is a growing problem for Chinese policymakers who are pulling out all the stops to revive the ailing industry — to very little effect.…

Widening Mideast Crisis: Drone Strike Kills 3 U.S. Soldiers in Jordan, White House Says

29

Jan

By Benjamin Hall

New miscellaneous

Widening Mideast Crisis: Drone Strike Kills 3 U.S. Soldiers in Jordan, White House Says

Three U.S. service members were killed in Jordan on Sunday and at least 34 others were injured in what the Biden administration said was a drone attack from an Iran-backed militia, the first American military fatalities from hostile fire in the turmoil spilling over from Israel’s war with Hamas.The attack happened at a remote logistics outpost in northeast Jordan called Tower 22 along the country’s shared borders with Syria and Iraq. The one-way attack drone hit near the outpost’s living quarters, causing injuries that ranged from minor cuts to brain trauma, a U.S. military official said.But the deaths of U.S.…

29

Jan

By Benjamin Hall

Health

The Man in Room 117

Sam and Olga had concluded that only involuntary treatment could break the cycle for Andrey — something open-ended, combining long-term injectable medications with intensive therapy and counseling.They are part of a much larger ideological shift taking place, as communities grope for ways to manage ballooning homeless populations. California, one of the first states to turn away from involuntary treatment, has passed new laws expanding it. New York has made a billion-dollar investment in residential housing, psychiatric beds and wraparound services.Sam had staked his hopes on Washington’s new involuntary treatment law, and found it maddening that this fall, when Andrey was…

Mike Macdonald lets the Ravens defense do his talking

28

Jan

By Benjamin Hall

New miscellaneous

Mike Macdonald lets the Ravens defense do his talking

The Athletic has live coverage of Ravens vs. Chiefs in the AFC Championship game. If Mike Macdonald’s ascent to one of the NFL’s hottest coordinators and a legitimate head-coaching candidate feels meteoric, that’s probably because he has never embraced the art of self-promotion.The 36-year-old second-year Baltimore Ravens defensive boss has consented to side media interviews in recent weeks largely because he wants to tout the chemistry and cohesion of his staff, not because he wants any more attention. He likes to call himself a “steward” of head coach John Harbaugh’s vision and will point you in the direction of two…

David L. Mills, Who Kept the Internet Running on Time, Dies at 85

28

Jan

By Benjamin Hall

Science and Technology

David L. Mills, Who Kept the Internet Running on Time, Dies at 85

David L. Mills, an internet pioneer who developed and, for decades, implemented the timekeeping protocol used by financial markets, power grids, satellites and billions of computers to make sure they run simultaneously, earning him a reputation as the internet’s “Father Time,” died on Jan. 17 at his home in Newark, Del. He was 85.His daughter, Leigh Schnitzler, confirmed the death.Dr. Mills was among the inner circle of computer scientists who from the 1960s through the ’90s developed Arpanet, a relatively small network of linked computers located at academic and research institutions, and then its globe-spanning successor, the internet.It was challenging…

Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit

28

Jan

By Benjamin Hall

Investments and Business

Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit

In 2018, Anna-Lisa Miller was working with agricultural cooperatives in Hawaii, helping them reinvest in their communities through shared ownership.Ms. Miller, who had gone to law school and had planned to do civil rights litigation, loved the principle of workers partaking in the financial success of their employers, and the next year joined Project Equity, a nonprofit that helps small businesses transition to worker ownership. But it was slow going, with each transaction requiring customized assistance.Then she came across an investor presentation from a different universe: KKR, one of the world’s largest private equity firms. In it, a KKR executive,…