NASCAR elevates Steve Phelps to commissioner, Steve O'Donnell to president
'We are thrilled to name Steve Phelps as NASCAR's first Commissioner. His leadership, professionalism and well-earned respect from across the sports industry speak to his unique value for the sport,' said NASCAR Chairman & CEO, Jim France in a statement. 'With more than 50 years of expertise between them, both Steve Phelps and Steve O'Donnell bring tremendous expertise, stability and a commitment to the bold racing innovations that will continue to serve fans, teams and stakeholders for many years to come.'
Dustin Long,
Phelps, who had been president since 2018, will oversee NASCAR, IMSA and all 15 NASCAR-owned tracks. His specific focus will be on strategic growth and international expansion.
'I'm honored to take this next step in helping to guide NASCAR, the sport I've loved since my father took me to my first race at five years old, continue to grow and welcome new fans, competitors and partners that together create some of the most extraordinary moments in sports,' Phelps said in a statement.
'I cannot thank the France family enough for their unwavering commitment to our fans, their steady leadership, and most importantly, their stewardship of stock car racing since its inception nearly eight decades ago. This sport is truly one of the great American business stories and I'm privileged to continue as part of that legacy – and especially its bright future.'
Nate Ryan,
O'Donnell, who had been chief operating officer, becomes the sixth NASCAR President. He will oversee day-to-day management of the sport, including all operations, competition and commercial business.
'In my 30 years in NASCAR, I've been most inspired by the passion of race fans at tracks across the country. It has been a privilege to help bring our sport to those fans through incredible new venues and innovative engaging content that showcase the best racing in our storied history,' said O'Donnell in a statement.
'I believe we're the best in the world at creating 'Bucket List' events that merge sports and entertainment with tailgating, camping and the most immersive fan experience in sports. I'm honored to continue that mission and build upon the collaboration and innovation with our teams and partners to deliver the best racing to sports fans everywhere.'

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Time Magazine
22 minutes ago
- Time Magazine
White House Launches TikTok Account
The White House has created an official TikTok account just weeks before the deadline that President Donald Trump extended for the Chinese-owned app to be sold to a non-Chinese buyer or face a ban in the U.S. The account, @whitehouse, was launched Tuesday evening and gained more than 80,000 followers as of early Wednesday. Trump's campaign used a TikTok account, @realdonaldtrump, which now has more than 15 million followers, before the presidential election last year. Trump's aides said last year that his TikTok was 'the most successful launch in political history' and credited it with being his 'secret sauce.' 'I am your voice,' Trump declares in the first video posted to the White House account, featuring footage of him spliced together and a caption reading, 'America we are BACK! What's up TikTok?' 'The Trump administration is committed to communicating the historic successes President Trump has delivered to the American people with as many audiences and platforms as possible,' White House Press Secretary Karoline Leavitt told Reuters on Tuesday. 'President Trump's message dominated TikTok during his presidential campaign, and we're excited to build upon those successes and communicate in a way no other administration has before.' Federal employees are not allowed to download the app on work devices with limited exceptions, per a law passed during the Biden Administration. Trump's TikTok evolution The Trump Administration has sought to negotiate a deal for the sale of TikTok, which is owned by Chinese company ByteDance, to a non-Chinese buyer before Sept. 17. The app was initially banned in the U.S. after President Joe Biden signed a bipartisan law last year requiring ByteDance to divest from the app over national security concerns. TikTok has argued that a U.S. ban violates the First Amendment, though the Supreme Court upheld the ban. On the evening of Jan. 18, the app was removed from U.S. app stores and users were met with a message reading, 'Sorry, TikTok isn't available right now. A law banning TikTok has been enacted in the U.S. Unfortunately that means you can't use TikTok for now.' Hours later, the app was live again as Trump announced that he extended the deadline for ByteDance to sell. A message on the app read: 'Thanks for your patience and support. As a result of President Trump's efforts, TikTok is back in the U.S.!' TikTok CEO Shou Zi Chew, who attended Trump's inauguration, praised Trump for the extension in a video message. Read More: Why Trump Flipped on TikTok The President has since extended the deadline several more times, although a sale before the current September deadline looks uncertain. Trump said in June that a deal with 'a group of very wealthy people' was close, contingent on approval from Beijing. Trump has also acknowledged that his tariffs on China may have made a sale harder. Trump himself had called TikTok a national security threat during his first presidential term, and the ban on the app was driven by a bipartisan push. 'The spread in the United States of mobile applications developed and owned by companies in [China] continues to threaten the national security, foreign policy, and economy of the United States,' an executive order signed by Trump in 2020 reads. 'The United States must take aggressive action against the owners of TikTok to protect our national security.'


Chicago Tribune
23 minutes ago
- Chicago Tribune
Today in Chicago History: The Beatles play two shows at Comiskey Park, and scarcely a note was heard
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USA Today
23 minutes ago
- USA Today
Do Americans have personal Social Security accounts? Answers here.
American workers pay taxes into a Social Security 'trust fund.' The more you earn now, the more you will reap later in retirement benefits. You can monitor your progress in a government account called 'my Social Security.' Those facts might lead some people to believe that everyone has a personal Social Security fund, money earmarked just for them. Roughly one in four Americans thinks exactly that, according to a new survey from the libertarian Cato Institute. The poll asked respondents how Social Security is funded. Only 45% of respondents chose the correct answer: 'My taxes pay for current retirees, and future workers will pay my benefits.' How does Social Security work? Most of us don't know. Confusion runs rampant on the basic workings of Social Security, according to recent surveys from Cato and AARP. Both polls coincide with Social Security's 90th anniversary, marked on August 15. In the Cato survey, released August 7, only 9% of Americans correctly identified the maximum annual Social Security benefit, which exceeds $60,000, on a multiple-choice list. Only one-quarter correctly guessed the average annual benefit, which falls between $20,000 and $30,000. The AARP survey, released in July, found that three-quarters of Americans believe they are informed about how Social Security works. But are they? In that survey, only 40% of Americans knew the earliest age you can claim Social Security: 62. Only 24% knew the claiming age when your benefit check maxes out: 70. 'When we started asking questions, it was obvious people aren't as knowledgeable as they think they are,' said Bill Sweeney, senior vice president of government affairs at AARP. Pay as you go: How Social Security really operates Here's how Social Security actually works: A portion of your income goes into a pair of Social Security trust funds, one for retirement, the other for disability. Social Security benefits are paid from those funds. Social Security is known as a 'pay as you go' program, which means that benefits paid to today's retirees are mostly collected from current workers. In other words, the Social Security benefit you receive is not money you earned. In that sense, the term 'trust fund' might be a little misleading. 'The terminology, alone, confuses things,' said Robert Brokamp, a senior retirement adviser at The Motley Fool. Relentless messaging on Social Security, from politicians and personal finance websites, might suggest workers are socking away their own money to pay for their eventual retirement. It is true that how much you earn determines the size of your eventual benefit checks. The money in those checks, however, will come mostly from future workers. 'People who don't understand the way it works think that they have been contributing to their Social Security benefits through their paychecks,' said Caleb Silver, editor-in-chief of Investopedia, the financial journalism site. 'It's definitely not sitting in an account with your name on it,' he said. 'It's sitting in an account with everyone's name on it.' Social Security faces a fiscal cliff Through most of its history, the Social Security program collected more money than it paid out, yielding a reserve that totaled $2.7 trillion at the end of 2024. Yet, as America ages, the reserve is dwindling. The latest projections show Social Security will face a shortfall by 2034. When the reserves run out, the federal agency will have sufficient funds to pay only about 81% of full benefits, according to AARP. Most Americans know that. In the Cato poll, 79% of working-age adults said they don't believe they will receive full benefits when they retire. Roughly one in 10 expect no benefits at all. The AARP poll, too, found Americans deeply pessimistic about the future of Social Security. More than one third of respondents said they believe that when the reserves are gone, benefit payments will cease. American workers have been predicting Social Security's demise for years. AARP has polled Americans about the federal program for four decades. Faith has never run high. 'People back in 1985 didn't have confidence Social Security was going to be there for them,' Sweeney said. 'And what's interesting is, that number has been consistent.' Social Security has faced insolvency before Social Security has faced insolvency before. At one point in the early 1980s, amid economic downturns, program trustees predicted a shortfall was months away. In 1983, policymakers fixed Social Security by collecting new taxes and gradually raising the full retirement age, among other changes. Congress will have similar options to shore up Social Security between now and 2034. Policymakers could choose to collect more Social Security taxes. They could again raise the retirement age, asking Americans to wait longer to collect larger benefit checks. Or they could borrow the money. 'I think that Congress will definitely do something to avoid reducing benefits,' said Emily Ekins, vice president and director of polling at Cato. 'I don't think they're just going to allow a quarter in benefits to be cut.' But how might Congress fix the program? Raise taxes, borrow money, or reduce benefits? Cato posed that question in its survey. The largest share of Americans, 37%, said they would favor higher taxes. Slightly fewer, 35%, favored borrowing the funds. Only 28% said they'd prefer reduced benefits. What if every Social Security check was $1,800? There are more radical solutions. Congress could abandon its complex benefit formulas in favor of a flat monthly check, the same amount for everyone: say, around $1,800. In the Cato survey, 38% of respondents said they would support a flat benefit as an alternative to tax hikes or program cuts. Clearly, it's not for everyone. 'A really foundational part of Social Security is, the more you pay in, the more you get out,' said Sweeney of AARP. 'And I think that's really important to the way the program is structured.'