Yale Budget Lab Says Trump Tariffs Will Mean Thousands in Costs for Families
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
The hedge funder who sparked the rally in Opendoor stock says the CEO's departure sets the stage for a 2,000% surge this year
Eric Jackson's outlook for Opendoor has become even more bullish after its CEO stepped down. The hedge fund founder now thinks the stock is headed for $82 by year-end, implying a nearly 2,000% surge. The firm looks like it's on the right path to become the "Airbnb of housing," he told BI. Investors cheering Opendoor's meteoric rally haven't seen anything yet. That's according to Eric Jackson, the hedge fund manager whose bullish outlook for the stock this summer kicked off a massive rally that's been likened to a meme-stock surge. But despite the stock's gain of more than 600% since the start of July, Jackson is adamant that Opendoor is the real deal. Speaking with Business Insider on Monday, Jackson, best known for his bullish call on Carvana in 2023, said Opendoor is poised for more colossal gains through the rest of this year. With Opendoor CEO Carrie Wheeler's departure last week, the EMJ Capital founder said he now sees shares of the real estate iBuying company soaring to $82 by the end of the year. That would imply a 1,975% gain from Monday's intraday high of $3.95 per share. Previously, Jackson's thesis pegged the stock at that level sometime in 2028. "I think it was the right thing to do. I thank her for her efforts over the last two and a half years," Jackson said, adding that Wheeler helped Opendoor clean up its finances after she took over in 2022, when interest rates were high and the company was loaded with inventory it bought in the years prior. "But I think it was obvious. She never bought a single share," he added. Jackson, who called for Wheeler to step down in the days prior to her resignation, said he thinks the company has a shot at becoming what he calls the "Airbnb of housing," a keystone on which he hangs his ambitious price target. Here's what Jackson said would need to happen for Opendoor to hit his loft price target: Exit the iBuying space and focus on becoming an interface between buyers and sellers. That's a market in which Opendoor has virtually no competition, Jackson says. "Rocket can't provide that. Zillow can't provide that," he said, adding that the Airbnb-esque approach to its business model would be "totally asset light," a main focus for the company in recent years. Get co-founders Keith Rabois and Eric Wu on the board. Rabois has never been on Opendoor's board of directors, and Wu, who served as CEO prior to Wheeler's takeover, left the company at the start of 2024. But the two are the right pair to head Opendoor's search for a new CEO, in Jackson's view. He said he believes it is important for the company to get back to its roots. "I think they're the perfect two," Jackson said. "Those two guys, Keith and Eric, are super smart and we ensure that the founder DNA really permeates through the whole company." Go international. "Airbnb doesn't just buy and sell or rent places in the US. There's no reason Opendoor can't go international as well," Jackson said. Put Jackson on the board. Jackson said he was interested in serving on Opendoor's board of directors as well, to represent the huge retail following the company has amassed in recent weeks. Retail trading volume of Opendoor stock peaked at $124 million the week of July 21, around the time Jackson hashed out his thesis for the company on X, according to data from Vanda Research. "I just think it's a worldwide phenomenon and people see the value here. They want to be part of it, and it would be crazy for the company not to embrace that retail love," Jackson said. If the company gets the right CEO, Jackson thinks Opendoor could generate as much as $1.4 billion in free cash flow by 2026. 'You have to have a lot of thick skin' Jackson says he's been inundated with attention since posting his original call on X. On a busy day for the stock, he can expect to get around 100 messages from retail investors wanting to talk to him about it. His hedge fund has also been busy speaking to potential investors, he says. Jackson says some of his online critics accuse him of pumping and dumping Opendoor. The stock, though, is one of the largest holdings in Jackson's fund, he previously told BI. "You get all the randos on Twitter — probably, half of them are bots — saying that you're a terrible person, and you're going to cause people to go bankrupt, and you're a grifter, and all this stuff," he said. "You have to have a lot of thick skin. I've muted a lot of people, blocked occasionally — blocked a few who really get aggressive. And ultimately, I just don't care. I know my kids love me. My wife loves me. My two goldendoodles in my office love me," he said. "I'm working all the time trying to unlock value in this company, and that's good enough for me." Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Fox Sports
19 minutes ago
- Fox Sports
Boston Celtics Finalize Sale to Bill Chisholm: 'Coming in 2nd Is Not Acceptable'
National Basketball Association Boston Celtics Finalize Sale to Bill Chisholm: 'Coming in 2nd Is Not Acceptable' Published Aug. 19, 2025 12:55 p.m. ET share facebook x reddit link The Boston Celtics have a new owner, and there's one thing that isn't going to change at the NBA's most-decorated franchise. "Coming in second is not the objective, and it's not acceptable," private equity mogul Bill Chisholm said Tuesday after taking control of the team from Wyc Grousbeck. "The ultimate yardstick is winning championships. Wyc's got two, and we're going to get more, and he and I together are going to help drive that." Chisholm leads a group that bid $6.1 billion for the Celtics — a record price for an American professional sports franchise. The NBA unanimously approved the deal last week, and all that was left was for the money to change hands on Tuesday. "We are committed to building on the legacy of the Celtics and raising banners," Chisholm said. "And I can't wait for the team to get back out there this fall." A Massachusetts native, Chisholm said his earliest Celtics memories are of the Dave Cowens, JoJo White and John Havlicek teams that won two NBA titles in the 1970s, but he really fell hard for the teams with Larry Bird, Robert Parish and Kevin McHale that added three more banners to the Boston Garden rafters in the '80s. "I became a rabid fan during the Bird, McHale, Parish era. That was my team," Chisholm said in an interview with The Associated Press shortly after the deal was finalized. "How can you be a teenager in Massachusetts, or New England, with that group and not end up being a lifelong Celtics fan?" ADVERTISEMENT The team was put on the market last summer, soon after Tatum and Brown vanquished the Dallas Mavericks in the NBA finals. Chisholm won the bidding in March and leads a group that now has majority ownership control of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion. That's the highest price ever paid for a team in the four major North American sports, though a piece of the Los Angeles Lakers changed hands this summer at a price that would value the entire franchise at $10 billion. Other investors include Aditya Mittal, Bruce Beal, Andrew Bialecki, Dom Ferrante, Rob Hale, Mario Ho and Ian Loring. Sixth Street is also a "major participant" in the investment group, the team said in a news release. Grousbeck and co-owner Steve Pagliuca led a group that bought the Celtics in 2002 for $360 million and presided over an era in which the Celtics won two NBA titles, lost in the finals two other times and made the playoffs in 20 of 23 seasons. The team's most recent title came in 2024, led by Jayson Tatum and Jaylen Brown. Team president Rich Gotham, general manager Brad Stevens and coach Joe Mazzulla are all expected to remain in their positions. Chisholm will represent the team in league matters as governor, with Grousbeck staying on as co-owner, CEO and alternate governor to run the day-to-day operations alongside Chisholm. "We've got a really solid core to the roster. We've got, I think, the best basketball people that there are. And we've got a really talented business operations team," Chisholm said. "And then we've got a leader like Wyc. I mean, why would you go make major changes to that? "I think there are things we can always improve on," he said. "But that is a really, really good place to start." Grousbeck said he can already tell that Chisholm understands the significance of owning one of the NBA's charter franchises, with its unmatched 18 championships and a history of Hall of Famers from Red Auerbach, Bob Cousy and Bill Russell to Paul Pierce and Kevin Garnett. "It's an unbelievable responsibility, and an unbelievable thrill," Grousbeck said. "But it's a huge challenge because the greats built it. And we're just here trying to maintain the legacy, which is a great honor." Chisholm takes over the team in a bit of a transition just two seasons after its latest title. Tatum is recovering from surgery to repair the ruptured right Achilles tendon injury he suffered in Boston's Eastern Conference semifinal loss to the New York Knicks, dooming the Celtics' hopes of a repeat. Jrue Holiday and Kristaps Porzingis — key parts of the title-winning team — were traded to avoid the NBA's punitive second apron payroll tax. Another key player, Al Horford – who came off of the bench or subbed in for the oft-injured Porzingis the past two years – remains a free agent. Grousbeck said the days of outspending opponents to win championships are over. "We had our two years at supermax, 100 mph, and now you take a year to reset a little bit, which every team will be doing," Grousbeck said. "And we'll be back. We're coming back as hard as we can." The Associated Press contributed to this report. Want great stories delivered right to your inbox? Create or log in to your FOX Sports account , and follow leagues, teams and players to receive a personalized newsletter daily! FOLLOW Follow your favorites to personalize your FOX Sports experience Boston Celtics National Basketball Association What did you think of this story? share
San Francisco Chronicle
19 minutes ago
- San Francisco Chronicle
This conversation is being recorded: Trump's hot mic moment is the latest in a long global list
LONDON (AP) — Behold the power of the humble hot mic. The magnifier of sound, a descendant of 150-year-old technology, on Monday added to its long history of cutting through the most scripted political spectacles when it captured more than two minutes of U.S. President Donald Trump and eight European leaders chit-chatting around a White House news conference on their talks to end Russia's war in Ukraine. The standout quote came from Trump himself to French President Emmanuel Macron even before anyone sat down. The American president, reflecting his comments after meeting in Alaska with Russian President Vladimir Putin: 'I think he wants to make a deal for me, you understand, as crazy as it sounds.' How politics and diplomacy sound when the principals think no one is listening can reveal much about the character, humor and humanity of our leaders — for better and sometimes for worse. As public figures, they've long known what the rest of us are increasingly learning in the age of CCTV, Coldplay kiss cams and social media: In public, no one can realistically expect privacy. 'Whenever I hear about a hot mic moment, my first reaction is that this is what they really think, that it's not gone through the external communications filter,' said Bill McGowan, founder and CEO of Clarity Media Group in New York. 'That's why people love it so much: There is nothing more authentic than what people say on a hot mic.' Always assume the microphone — or camera — is turned on Hot mics, often leavened with video, have bedeviled aspiring and actual leaders long before social media. During a sound check for his weekly radio address in 1984, U.S. President Ronald Reagan famously joked about attacking the Soviet Union at the height of the Cold War. 'My fellow Americans," Reagan quipped, not realizing the practice run was being recorded. "I'm pleased to tell you today that I've signed legislation that will outlaw Russia forever. We begin bombing in five minutes.' The Soviet Union didn't find it funny and condemned it given the consequential subject at hand. Putin, too, has fallen prey to the perils of a live mic. In 2006, he was quoted in Russian media joking about Israel's president, who had been charged with and later was convicted of rape. The Kremlin said Putin was not joking about rape and his meaning had been lost in translation. Sometimes a hot mic moment involves no words at all. Presidential candidate Al Gore was widely parodied for issuing exasperated and very audible sighs during his debate with George W. Bush in 2000. In others, the words uttered for all to hear are profane. Bush was caught telling running mate Dick Cheney that a reporter for The New York Times was a 'major-league a--hole.' 'This is a big f———- deal,' then-U.S. Vice President Joe Biden famously said, loudly enough to be picked up on a microphone, as President Barack Obama prepared to sign his signature Affordable Care Act in 2010. Obama was caught on camera in South Korea telling Dmitri Medvedev, then the Russian president, that he'll have 'more flexibility' to resolve sensitive issues — 'particularly with missile defense' — after the 2012 presidential election, his last. Republican Mitt Romney, Obama's rival that year, called the exchange 'bowing to the Kremlin.' 'Sometimes it's the unguarded moments that are the most revealing of all,' Romney said in a statement, dubbing the incident 'hot mic diplomacy.' Live mics have picked up name-calling and gossip aplenty even in the most mannerly circles. In 2022, Jacinda Ardern, then New Zealand's prime minister, known for her skill at debating and calm, measured responses, was caught on a hot mic tossing an aside in which she referred to a rival politician as 'such an arrogant pr—-' during Parliament Question Time. In 2005, Jacques Chirac, then president of France, was recorded airing his distaste for British food during a visit to Russia. Speaking to Putin and Gerhard Schroder, he was heard saying that worse food could only be found in Finland, according to widely reported accounts. Britain's King Charles III chose to deal with his hot mic moment with humor. In 2022, shortly after his coronation, Charles lost his patience with a leaky pen while signing a document on a live feed. He can be heard grousing: "Oh, God, I hate this!' and muttering, 'I can't bear this bloody thing … every stinking time.' It wasn't the first pen that had troubled him. The British ability to poke fun at oneself, he said in a speech the next year, is well known: 'Just as well, you may say, given some of the vicissitudes I have faced with frustratingly failing fountain pens this past year.' Trump owns perhaps the ultimate hot mic moment The American president is famously uncontrolled in public with a penchant for 'saying it like it is,' sometimes with profanity. That makes him popular among some supporters. But even he had trouble putting a lid on comments he made before he was a candidate to "Access Hollywood' in tapes that jeopardized his campaign in the final stretch of the 2016 presidential race. Trump did not appear to know the microphone was recording. Trump bragged about kissing, groping and trying to have sex with women who were not his wife on recordings obtained by The Washington Post and NBC News and aired just two days before his debate with Hillary Clinton. The celebrity businessman boasted 'when you're a star, they let you do it,' in a conversation with Billy Bush, then a host of the television show. On Monday, though, the chatter on both ends of the East Room press conference gave observers a glimpse of the diplomatic game. Dismissed unceremoniously from the White House in March, Ukrainian President Volodymyr Zelenskyy now sat at the table with Trump and seven of his European peers: Macron, NATO Secretary General Mark Rutte, Italian Prime Minister Giorgia Meloni, Finland's President Alexander Stubb, European Commission President Ursula von der Leyen, German Chancellor Friedrich Merz and British Prime Minister Keir Starmer. Trump complimented Macron's tan. He said Stubb is a good golfer. He asked if anyone wanted to ask the press questions when the White House pool was admitted to the room — before it galloped inside. The European leaders smiled at the shouting and shuffling. Stubb asked Trump if he's 'been through this every day?' 'He loves it. He loves it, eh?" she said.
