Wildfire smoke, shark pardons and lost 401(k) accounts: Your week in review
Wildfire smoke, shark pardons and lost 401(k) accounts: Your week in review
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Smoke drifting into US from Canada wildfires could impact health
Smoke from wildfires in Canada has drifted into Montana, the Dakotas, Minnesota, Midwestern and East Coast states, and as far south as Florida.
Canadian wildfire smoke hangs over U.S.
Skies were looking milky across much of the United States for days as smoke from wildfires raging in Canada drifted into northern and Midwestern states and dipped even as far south as Florida. The Dakotas, Iowa and most of Minnesota and Wisconsin were under air quality alerts, and the haze hung over major cities including New York, Washington, Philadelphia and Boston. More than 200 wildfires were burning in Canada as of June 3, and more than half were classified as "out of control," Canadian forest fire authorities said.
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Trump pardons Florida divers who freed sharks
Presidential pardons have often sparked controversy, but Donald Trump's latest gesture had some teeth to it. Trump granted full clemency to two Florida divers, John Moore Jr. and Tanner Mansell, who were convicted of theft for cutting 19 sharks free from a fisherman's longline in 2020. They had assumed the gear was illegal; it turns out it belonged to a vessel permitted by the federal government to harvest sandbar sharks for research. "Whether people believe in his politics or not, he chose to pardon me ... and only ever wanted to help," Mansell said in a text. "I can't help but feel extremely grateful."
A fortune sits in 'lost' 401(k) accounts
You might think it would be hard to forget almost $60,000. But at least $1.7 trillion is wasting away in forgotten 401(k) accounts, the financial firm Capitalize found, and the average lost balance is $56,616. How does that happen? People who leave a job "usually have a bunch of things going on,' said David John of the AARP Public Policy Institute, and simply lose track. (More than 47 million Americans quit their jobs in the Great Resignation of 2021.) And someone who leaves a job after only a year or two might be especially prone to overlook a modest balance − which, thanks to the magic of tax-free investment growth, eventually turns into a big balance.
Loretta Swit, 'M*A*S*H's beloved 'Hot Lips,' dies
Fans, friends and co-stars were remembering Loretta Swit, who starred as Major Margaret "Hot Lips" Houlihan through all 11 seasons of TV's hugely popular Korean War dramedy "M*A*S*H" and gave depth and strength to a character who began as an oversexed blond stereotype. Swit, 87, died May 30. "More than acting her part, she created it," star Alan Alda, 89, posted on X. Jamie Farr, 90, who played Corporal Maxwell Q. Klinger, told USA TODAY she was his "adopted sister … as close as family can get." The cast was a tight-knit group through the years, Swit once said: "We might as well be joined at the hip."
Close isn't good enough for the New York Knicks
Some teams just want to win NOW. Maybe that's why the New York Knicks fired coach Tom Thibodeau, stunning much of the basketball world, just days after the franchise flirted with the NBA Finals for the first time in 25 years before falling to the Indiana Pacers. Not bad for a team that had won just 21 games in the 2019-20 season before Thibodeau took over. The Knicks might be forgiven for being a little impatient after their magical run, however: They have not won a title since 1973. (The NBA Finals, with the Pacers facing the Oklahoma City Thunder, tipped off June 5). − Compiled by Robert Abitbol, USA TODAY copy chief
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Hamilton Spectator
28 minutes ago
- Hamilton Spectator
2026 races loom at Georgia Republican convention as Trump loyalty dominates
DALTON, Ga. (AP) — Steve Bannon took the stage Friday night at the Georgia Republican Convention to say it's too early to be talking about 2026. 'Don't even think about the midterms,' the Republican strategist told activists. 'Not right now. '26, we'll think about it later. It's backing President Trump right now.' But it didn't work. There was plenty of praise for Donald Trump . And while the party took care of other business like electing officers and adopting a platform, the 2026 races for governor and Senate were already on the minds of many on Friday and Saturday in the northwest Georgia city of Dalton. 'Everybody campaigns as quick as they can,' U.S. Rep. Marjorie Taylor Greene told The Associated Press Saturday. Lots of other people showed up sounding like candidates. Greene, after passing on a U.S. Senate bid against Democratic incumbent Jon Ossoff , laid out a slate of state-level issues on Saturday that will likely fuel speculation that she might run for governor to replace term-limited Republican Gov. Brian Kemp. Echoing Trump's signature slogan, Greene told the convention to 'Make Georgia great again, for Georgia.' She called for abolishing the state income tax, infusing 'classical' principles into Georgia's public schools, reopening mental hospitals to take mentally ill people off the streets, and changing Georgia's economic incentive policy to de-emphasize tax breaks for foreign companies and television and moviemakers. 'Now these are state-level issues, but I want you to be talking about them,' Greene said. In her AP interview before the speech, Greene said running for governor is an 'option,' but also said she has a 'wonderful blessing' of serving her northwest Georgia district and exercising influence in Washington. 'Pretty much every single primary poll shows that I am the top leader easily, and that gives me the ability to think about it. But it's a choice. It's my own, that I will talk about with my family.' More likely to run for governor is Lt. Gov. Burt Jones, who is expected to announce a bid later this summer. 'I promise you, I'm going to be involved in this upcoming election cycle,' Jones told delegates Friday. Like Greene, Jones is among the Georgia Republicans closest to Trump, and emphasized that 'the circle is small' of prominent Republicans who stood by the president after the 2020 election. Jones also took a veiled shot at state Attorney General Chris Carr , who declared his bid for governor in December and showed up Friday to work the crowd, but did not deliver a speech to the convention. 'Always remember who showed up for you,' Jones said. 'And always remember who delivers on their promises.' Carr told the AP that he didn't speak because he was instead attending a campaign event at a restaurant in Dalton on Friday, emphasizing the importance of building personal relationships. Although Trump targeted him for defeat in the 2022 primary, Carr said he's confident that Republicans will support him, calling himself a 'proud Kemp Republican,' and saying he would focus on bread-and-butter issues. 'This state's been built on agriculture, manufacturing, trade, the military, public safety,' Carr said. 'These are the issues that Georgians care about.' The easiest applause line all weekend was pledging to help beat Ossoff. 'Jon Ossoff should not be in office at all,' said U.S. Rep. Buddy Carter , who is spending heavily on television advertising to support his Senate run. 'Folks, President Trump needs backup, he needs backup in the Senate,' said state Insurance Commissioner John King , who is also running for the Senate. 'He's going to need a four-year majority to get the job done. And that starts right here in the state of Georgia.' Former University of Tennessee football coach Derek Dooley , who expressed interest Friday in running for Senate, did not address delegates. But one other potential candidate , U.S. Rep. Mike Collins, did. Collins told delegates that in 2026 it was a priority to defeat Ossoff and replace him with a 'solid conservative.' It's not clear, though, if Collins himself will run. 'We're going to see how this thing plays out,' Collins told the AP. 'I'm not burning to be a senator, but we've got to take this seat back.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Indianapolis Star
33 minutes ago
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Trump-Musk feud shows why GOP can't actually balance the budget
The honeymoon phase of President Donald Trump and Elon Musk's bromance has been waning for weeks, and now their relationship appears torn beyond repair just as publicly as it started. The pair exchanged blows on social media June 5, with Trump threatening on Truth Social to strip Musk's companies of subsidies, while Musk took credit for the 2024 GOP victory and took to X to accuse Trump of being on the Jeffrey Epstein list. This ridiculous escalation distracts from the real point at issue, though. Musk seems frustrated that Republicans used him in their charade to balance the federal budget, frustrated that Trump used him for his own end. But he really should be frustrated that he was so gullible – because he should have seen all of this coming. I'm frustrated that this is the only thing receiving attention, considering the amount of work that needs to be done with the budget. Whether Musk genuinely believed himself when he promised to cut $2 trillion (before quickly tempering that estimate) is up for debate. If he did believe it, he was entirely naive about both the current state of the Republican Party and our federal government. Republicans thought they could use Musk as a political win and distraction, allowing him to claw back government spending through the U.S. Department of Government Efficiency, while congressional Republicans authorized massive deficit increases. Even after accounting for the economic growth that the One Big Beautiful Bill Act would stimulate, it's projected to add $2.4 trillion (yes, with a T) to the federal deficit over the next decade. This figure stands as a mountain next to the small pile of $2 billion (yes, with a B) worth of verifiable budget cuts from DOGE. Hicks: Soaring national debt means cities need to prepare for cuts All the while, Republicans and Trump sang Musk's praises, knowing that they would turn around and spend money that we don't have. But Musk should have realized it was all a show. Trump skyrocketed the deficit in his first presidency, and every promise he's ever given for a balanced budget has been a lie. As much as MAGA likes to claim otherwise, Trump's GOP is no different than the swamp creatures they like to criticize. Those who are actually interested in cutting government spending, which I think Musk at least somewhat seems to be, should not attach the idea to political parties because they will inevitably disappoint. There hasn't been a genuine effort to produce a balanced budget since the late 1990s, and there isn't likely to be from either Republicans or Democrats anytime soon. I'm not the least bit surprised that these two narcissists' relationship flamed out so quickly. There was never enough room in Trump's White House for both his and Musk's personalities. Trump has never maintained an extended relationship with somebody who is willing to disagree with him publicly. During his first term, Trump had extremely high personnel turnover rates, both among his Cabinet and his aides. Trump's 'you're fired' catchphrase really says a lot about his approach to relationships. He is quick to turn on people who disagree with him or even just publicly embarrass him. Hicks: Indiana's startling Medicaid math forces unpleasant choices Musk has been loudly advocating against Trump's "Big Beautiful Bill" for its impact on the deficit. After a week of Musk criticizing the deficit spending in Trump's bill, the president has clearly had enough. He cannot tolerate a dissenting voice from within his ranks. Trump and the GOP are now likely to kick a powerful ally to the curb, all because Trump is so vain that he cannot handle differing opinions. This is why the Republican Party is now made up of yes-men, because they have allowed Trump to push all the spine that he can out of the party. Now that the sideshow of Musk is gone, Republicans have one less thing to hide behind. I'm not sure that makes it any more likely they'll act responsibly, but at least it's more transparent to Americans now.
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Former rivals Baker Tilly and Moss Adams just merged as private equity reshapes accounting. Their CEOs explain why they did the deal.
Baker Tilly and Moss Adams have merged to create the sixth-largest advisory CPA firm in the US. "We just added a bunch of arrows into our quiver," Jeff Ferro, CEO of Baker Tilly, told Business Insider. The deal marks a major shift for the mid-market landscape, which is being heavily influenced by private equity. Baker Tilly and Moss Adams merged this week in a deal that marks another shake-up for mid-market consulting firms and emphasizes the role being played by private equity in US accounting. The two firms, which are both in the tier below the Big Four, have a combined annual revenue of over $3 billion. By joining forces, they've catapulted themselves above BDO, Grant Thornton US, and CLA to become the 6th largest accounting firm by revenue in the US. The move brings together 11,500 employees into one firm that will keep the Baker Tilly name and be an independent member firm in the Baker Tilly International network. In a joint interview, the two CEOs of the merged firms told Business Insider that the move is mutually strategic and will help them navigate the challenges facing the mid-market. "We just added a bunch of arrows into our quiver," said Jeff Ferro, CEO of Baker Tilly. The deal also offers an insight into how private equity is reshaping the industry in the US. In 2024, Baker Tilly sold a stake to the private investment groups Hellman & Friedman (H&F) and Valeas, in the second-largest deal in the sector at the time. Baker Tilly is now, thanks to the merger, the largest firm in the industry to be partly owned by private-equity investors. It's a trend that is redefining the culture and business model of traditional accounting firms. Firms have typically paid out profits to equity partners, who also get a vote on how they are run. Private equity offers an influx of capital to help firms evolve their technology and data, but requires firms to divest the control historically promised to partners, shaking up their culture. Ferro told BI that Baker Tilly's strategic plan had been to grow through acquisition, and was a key part of what H&F bought into when they signed the deal. H&F will also make a "meaningful additional strategic investment in the business" as part of this transaction. "Our chances of executing our strategy were good, and now I think they're great," said Ferro. Combining firms also created strategic advances in geographic reach — Moss Adams is West Coast-focused, while Baker Tilly mostly covers the East, central, and has some international clients. The two firms bring specific industry strengths to the table and different tools and service capabilities to offer clients, Ferro said. "I see us being a $6 billion revenue organization in five years," Ferro said, which would mean doubling their current combined revenues. "It's quite a win," agreed Eric Miles, the former CEO of Moss Adams, who will take over from Ferro as CEO of Baker Tilly when Ferro retires at the end of the year. The needs of the mid-market client base are changing, and they require more scale and breadth of services than they used to, he said. At the same time, the firms themselves are seeing increasing demand for true fixed costs like training and development, and AI. Those kinds of pressures require large organizations to scale to be competitive, he said. Neither firm had to do the merger, Miles said, "But we had this strategic lens on it, saying, 'how can we be stronger? What's going to be required to be a leading competitive firm in the future?'" "The partnership with Baker-Tilly helped us meet all those long-term strategic objectives, which helps us not only deal with these forces, but get out in front and lead in the market," Miles said. Have a tip? Contact this reporter via email at pthompson@ or Signal at Polly_Thompson.89. Use a personal email address and a nonwork device; here's our guide to sharing information securely. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
