The Erie Canal is turning 200. New York is throwing a summer-long party
In 1995, Tammee Poinan Grimes's parents purchased a 60-foot-long tour boat to use for sightseeing cruises along the Erie Canal. The expense of shipping the boat from San Francisco to Upstate New York was prohibitive, so they came up with a different solution.
Article content
Article content
Over the course of seven weeks, the family helmed the vessel south through the Pacific Ocean, northwest across the Panama Canal and into the Caribbean Sea, then north via the Atlantic Ocean and into the Hudson River at New York City, before connecting with the Erie Canal in Albany.
Article content
'You can get anywhere in the world via the Erie Canal,' says Poinan Grimes, now the captain of the same patriotically painted boat, the Colonial Belle.
Article content
From its dock in Fairport, New York, the boat will participate in celebrations and events for the 200th anniversary of the Erie Canal this year.
Article content
Long before Poinan Grimes's family's journey, other dreamers and doers brought one of North America's most significant man-made waterways to life in 1825.
Article content
While the canal's builders understood the potential economic impact of the 363-mile channel connecting Buffalo in the west to capital city Albany in the east, they may not have anticipated its lasting reverberations on American culture.
Article content
'I'm constantly learning and meeting people who have all kinds of great stories,' Poinan Grimes said. 'I don't think I'll ever stop learning about the canal because there's just so much [to know].'
Article content
Article content
For the Erie Canal's bicentennial, more than 35 festivals, outdoor programs, lectures and performances will offer adventures and insights.
Article content
The Albany Symphony Orchestra will perform canalside concerts in Medina, Troy, Utica and other cities. In August, Flotsam River Circus is booked for dozens of live performances aboard its wooden raft turned stage.
Article content
In July, hundreds of cyclists are expected to gather for the eight-day Cycle the Erie Canal ride along the Empire State Trail, following a route from Buffalo east along the Erie Canal and south along the Champlain Canal and Hudson River to Albany. For some segments, bike-mounted historians will narrate key points of interest.
Article content
A recreational cyclist known as BillytheKid Klein, who has participated in the 400-mile bike tour annually since 2021, says residents treat cyclists like visiting rock stars, lining up to cheer on riders or provide bottles of water, watermelon slices, ice cream and T-shirts.
Article content
For Klein, the camaraderie is the allure.
Article content
'The people are astounding, and so are their bikes,' he said. 'They bring antique bikes, big-wheel bikes from Britain, adaptive bikes they pedal with their hands. The whole experience is a lot like Woodstock. It's just a lot of love.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
2 hours ago
- Globe and Mail
World Cup 2026 organizers prepare for wrinkles created by U.S. travel restrictions
The head of Toronto's World Cup 2026 host committee says the executive order issued by the White House last week restricting travel to the U.S. from 19 countries is more of the same uncertainty that organizers have had to adjust to as partners in the event with the U.S. under President Donald Trump. 'Things have been changing with some of these [presidential] orders back and forth, as we all know in the tariff situation,' said Sharon Bollenbach, the executive director of FIFA World Cup 2026 Toronto. When the new edict came down, 'I think there's a bit of, like: 'OK, that's what we're dealing with today.'' Her assessment echoed comments by some of her U.S. counterparts at a gathering of the 11 U.S. host city leaders this week. 'There are going to be geopolitical issues that we don't even know right now that are going to affect the tournament next year, so we recognize that we're planning within uncertainty,' Meg Kane, the head of Philadelphia's local organizing committee, told reporters. 'One of the things that I think we all recognize is that we have to be really good at operating within that uncertainty.' Last week's executive order bans citizens of 12 countries from travelling to the U.S., including Iran, ranked 18th in the world by FIFA, which qualified for the World Cup in March. Other nations with promising teams such as Haiti and Sudan also fall under the ban. The U.S. also partially restricted travel to the U.S. of citizens of an additional seven countries, including Venezuela, Cuba, and Sierra Leone. World Cup 2026 will be Canada's chance to show the world how much fight we have in us The order contains exemptions for players, staff and family members of sports teams competing in major events such as the World Cup or the Olympics. But it caught organizers off guard and represents a significant impediment for fans hoping to travel between the three host nations. It also casts a shadow over the spirit of unity that those countries – Canada, the United States and Mexico – had hoped to strike when they signed on to the tournament in 2018. In a statement to The Globe and Mail, Jessie Adcock, FIFA World Cup 26 Vancouver host committee lead, said the organization is 'actively reviewing the recent Executive Order issued by the White House and are in ongoing discussions with our partners to assess any potential implications for tournament planning and operations.' Bollenbach noted that the schedule for the first round of the tournament – which kicks off in Canada at Toronto's BMO Field on June 12, 2026, followed by a match at BC Place in Vancouver the next day – won't be known until FIFA conducts its draw in December. That is when fans will learn where their teams are playing their three group stage matches, prior to the knockout round. Toronto will host one of the round-of-32 knockout games. Vancouver will host one round-of-32 match and one round-of-16 match. 'Until we know the countries that are specifically coming to our cities, there's not a lot we can do,' said Bollenbach. 'When the draw happens and we know what countries are playing here, that will unlock and cascade a lot of things for us in terms of planning, and part of that will be the travel plans and the marketing plan that we want to do to the countries that are playing here. We'll have to figure out if they're on that travel ban list.' She pointed out that fans from the 19 countries named in the executive order will still be free to travel to Canada. Iran is the only country in that group whose team has already qualified for the tournament. Portugal wins Nations League with thrilling penalty shootout win over Spain Last month, U.S. Vice President J.D. Vance said foreigners are welcome to attend the tournament, but warned: 'When the time is up, they'll have to go home, otherwise, they'll have to talk to Secretary Noem,' referring to Homeland Security Secretary Kristi Noem. Bollenbach spoke ahead of an event scheduled for Thursday evening at Toronto's Nathan Phillips Square marking one year from kickoff, at which dignitaries will unveil an official FIFA World Cup 26 Toronto Countdown Clock. Toronto mayor Olivia Chow proclaimed Thursday 'Soccer Day,' and encouraged Torontonians to turn out to the event wearing jerseys of their favourite teams. Chow has been critical of the agreement the city signed with FIFA as well as the escalating cost of hosting the event, which is now pegged at $380-million. In recent weeks she has warned that tariffs could add to the costs, and she has said the city, which is already on the hook for almost $179-million, might need to ask the province and federal government for more money than they have already committed. She has also alleged that the Ontario government is putting too high a value on the services included in the calculations of its $97-million pledge, leaving the city to make up a $39-million shortfall. The city and province are currently in negotiations over the dispute.
Globe and Mail
4 hours ago
- Globe and Mail
Earnings Estimates Stabilize: A Closer Look
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>> Here are the key points: Total S&P 500 earnings for the June quarter are expected to be up +5.2% from the same period last year on +3.8% higher revenues, with a broader and greater pressure on estimates relative to other recent periods since the June-quarter got underway. Q2 earnings estimates for 14 of the 16 Zacks sectors have come down since the quarter got underway, with Aerospace and Utilities as the only sectors whose estimates have moved higher. Q2 earnings estimates for the Tech and Finance sectors, the two largest contributors to aggregate S&P 500 earnings, accounting for 51% of all index earnings, have also been cut since the quarter got underway. The quarter started with significant pressure on Tech sector estimates, but the negative revisions trend notably stabilized in the subsequent weeks. Q2 earnings for the 'Magnificent 7' group of companies are expected to be up +11.8% from the same period last year on +11.2% higher revenues. Excluding the 'Mag 7' contribution, Q2 earnings for the rest of the index would be up +3.4% (vs. +5.2%). The Q2 earnings season will really get going once JPMorgan and Wells Fargo kick-off the June-quarter reporting cycle for the Finance sector. But officially, the Q2 earnings season will have gotten underway much before that, as we and others count results from companies with fiscal quarters ending in May as part of the Q2 earnings season. Using that definition of Q2, we have already seen such results from Costco ( COST ), AutoZone ( AZO ), and Oracle ( ORCL ), and will have seen almost two dozen such results by the time the big banks report their results. Making Sense of Earnings Expectations for 2024 Q2 and Beyond The start of Q2 coincided with heightened tariff uncertainty following the punitive April 2 nd tariff announcements. While the onset of the announced levies was eventually delayed for three months, the issue has understandably weighed heavily on estimates for the current and coming quarters, particularly in the first few weeks after the April 2 nd announcement. The expectation at present is for Q2 earnings for the S&P 500 index to increase by +5.2% from the same period last year on +3.8% higher revenues. The chart below shows how Q2 earnings growth expectations have evolved since the start of the year. While it is not unusual for estimates to be adjusted lower, the magnitude and breadth of Q2 estimate cuts are greater than we have seen in the comparable periods of other recent quarters. Since the start of the quarter, estimates have come down for 14 of the 16 Zacks sectors, with the biggest declines for the Transportation, Autos, Energy, Construction, and Basic Materials sectors. The only sectors experiencing favorable revisions in this period are Aerospace and Utilities. Estimates for the two largest earnings contributors to the index – Tech & Finance – have also declined since the quarter began. Tech sector earnings are expected to be up +12% in Q2 on +10.5% higher revenues. While these earnings growth expectations are materially below where they stood at the start of April, the revisions trend appears to have notably stabilized lately, as we have been flagging in recent weeks. You can see this in the sector's revisions trend in the chart below. This stabilizing turn in the Tech sector's revisions trend can be seen in expectations for full-year 2025 as well, as the chart below shows. The two charts above show that estimates for the Tech sector have stabilized and are no longer under the type of downward pressure experienced earlier in the quarter. The Tech sector is much more than just any another sector, as it alone accounts for almost a third of all S&P 500 earnings. The Earnings Big Picture The chart below shows expectations for 2025 Q2 in terms of what was achieved in the preceding four periods and what is currently expected for the next three quarters. The chart below shows the overall earnings picture for the S&P 500 index on an annual basis. While estimates for this year have been under pressure lately, there haven't been a lot of changes to estimates for the next two years at this stage. Stocks have recouped their tariff-centric losses, although the issue has only been deferred for now. While some of the more dire economic projections have eased lately, there is still plenty of macro uncertainty that will likely continue to weigh on earnings estimates in the days ahead, particularly as we gain visibility on the tariffs question. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Oracle Corporation (ORCL): Free Stock Analysis Report AutoZone, Inc. (AZO): Free Stock Analysis Report
Globe and Mail
5 hours ago
- Globe and Mail
U.S., China reach trade truce after two days of talks, Trump says
President Donald Trump says the U.S. has reached an agreement with China to stand down on a series of punitive measures enacted over the past month, returning the two economic giants to the partial trade-war détente reached in May. The U.S. government said Wednesday that the deal involves China agreeing to stop restricting exports of rare earth minerals and related magnets to the U.S. in exchange for the U.S. reversing planned restrictions on Chinese students and lifting export controls on software. The full deal, reached after two days of talks at Lancaster House in London, was not immediately released. 'OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,' Mr. Trump wrote on Truth Social. 'RELATIONSHIP IS EXCELLENT!' He added that he and Chinese President Xi Jinping 'are going to work closely together to open up China to American trade.' Commerce Secretary Howard Lutnick told CNBC that China is now going to 'approve all applications for magnets from United States companies right away. Think of that language: right away. Very much like the same day.' The magnets and the minerals from which they are made are used in cars, military hardware and other products. Mr. Lutnick said tariffs between the two countries will remain unchanged. The U.S. will continue to levy 30-per-cent tariffs on Chinese goods, plus a 25-per-cent tariff on some products that was imposed during Mr. Trump's first term. China's tariff on U.S. imports will stay at 10 per cent. 'We like our position. We like the way things are working with China,' Mr. Lutnick said of the negotiations. 'Every inch of that room was gold-leafed. It was, like, the perfect place to negotiate a Donald Trump deal.' Not everyone was so excited. Treasury Secretary Scott Bessent told a congressional committee hearing Wednesday that 'China has proven an unreliable partner' and 'we will see' if Beijing fulfills the bargain this time. He said the text of the agreement wasn't available yet because 'we are in the midst of constructing it.' Mr. Bessent, who said he flew back to the U.S. capital from London at 4 a.m. after talks finished, cautioned that the agreement was narrowly focused on resolving the critical minerals issue and did not represent a full trade deal between the two countries. 'It will be a longer process. The trade deal today – or last night – was for a specific goal,' he said. Nor does the agreement represent a truce on the broadest front of Mr. Trump's global trade war. A large chunk of Mr. Trump's tariffs on China remains in place as does Beijing's lower tariff on Washington. How to win a trade war: Canada, Trump and a delicate dance in asymmetric warfare Beijing's official news agency, Xinhua, referred to the deal as an 'agreement in principle.' The agreement effectively restores the situation as it was in May, when the two countries agreed to dial back tariffs for 90 days while they worked on a broader trade agreement. Before that, Mr. Trump had imposed 145-per-cent tariffs on China, which retaliated with 125-per-cent levies. Those eyewatering figures had all but shut down trade and raised fears that the U.S. would soon face shortages of a wide range of consumer goods. After the May 12 deal in Geneva, however, the Trump administration accused China of breaking the agreement by withholding shipments of magnets and critical minerals. The U.S. retaliated with a plan to revoke the visas of Chinese students in 'critical fields' and a clampdown on exporting software for making semiconductors. Mr. Trump and Mr. Xi spoke by phone last week for the first time since Mr. Trump returned to office, a key step toward de-escalating tensions. The off-again, on-again trade restrictions have been a hallmark of the U.S. President's commercial policy in his second term. He imposed a sweeping set of tariffs on nearly every country and territory in the world on April 2, which he dubbed 'liberation day.' Within a week, he had rolled most of those back after a stock market rout. He next hiked tariffs on China in a bid to focus the trade attack on the U.S.'s primary economic adversary. But he eventually reversed many of those, too, amid fears of severely damaging the U.S. economy. Before 'liberation day,' he separately imposed 20-per-cent tariffs on China to punish it for Chinese-made fentanyl in the U.S. Those, plus the 10-per-cent remainder of the 'liberation day' levies and 25 per cent from Mr. Trump's first term, mean many Chinese goods face 55-per-cent tariffs in the U.S. even after the President's climbdowns.
