In reversal, developer Thomas O'Brien says he won't challenge Michelle Wu after all
Advertisement
A former head of the Boston Redevelopment Authority and one of Boston best-known developers, O'Brien is the founding partner of The HYM Investment Group, a firm behind some of the city's largest and most complicated projects. HYM played key roles in the development of Boston Landing in Brighton and the NorthPoint campus on the Boston-Cambridge-Somerville line. The firm currently has approvals to build 10,000 units of housing at Suffolk Downs, a former horse-racing track straddling the East Boston-Revere line, as well as major projects downtown and in Roxbury.
'My commitment to Boston remains unwavering,' O'Brien's statement said. 'I'll keep working to make our city a more affordable, inclusive and vibrant place to live, work and thrive — and I look forward to partnering with Mayor Wu, her administration and others to help achieve that vision.'
Advertisement
O'Brien had been planning an announcement for some time this week, at an event in East Boston, and sources who had discussed the race with him said he planned to focus on immigration, housing, and other issues key to Boston's future.
An O'Brien candidacy would have posed a serious challenge for Kraft, as both have close ties in a business community that has grown skeptical of Wu. In Boston mayoral elections, the top two finishers in a September preliminary election advance to a runoff in November.
Boston Mayor Michelle Wu gives the State of the City address on March 19.
Brett Phelps for The Boston Globe
Now Kraft, who entered the race in February,
Wu is expected to formally kick off her reelection campaign this Saturday in the South End.
Kraft officially launched his bid to unseat Wu on Feb. 4 after more than a year of speculation as to whether he would challenge her. Kraft is well known in Boston's civic and business circles, particularly for his time leading the Boys & Girls Club.
Kraft came out swinging at Wu right out of the gate, criticizing her over stalled housing development in the city, her push to install bike and bus lanes around Boston, and her controversial move to redevelop Franklin Park's White Stadium for Boston Public Schools students with a new professional women's soccer team.
Wu countered that Kraft, who only recently moved within the city's boundaries in the fall of 2023, would not be the right fit to lead Boston.
Advertisement
Josh Kraft is challenging Boston Mayor Michelle Wu in this fall's election.
Jonathan Wiggs/Globe Staff
Wu has also been
Kraft has raised nearly $567,000 in contributions from early February through March 21, according to state campaign finance data. Wu has a little less than $1.8 million in cash on hand, according to her most recent campaign finance report from the start of March.
Check back soon for more on this developing story.
Catherine Carlock can be reached at
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 days ago
- Yahoo
Wichita Ethics Board finds mayor violated city code over transgender proclamation
WICHITA, Kan. (KSNW) – The Wichita Ethics Board met on Thursday to review its report on the 22 ethics complaints filed against Mayor Lily Wu. They found she violated one case of six alleged violations. There were two main points of alleged violation: Mayor Wu's lack of signature on the document, and her decision to not read it aloud. It was the latter that the board found to be a violation of their ethics. The complaints, submitted between March 19 and April 16, stem from controversy surrounding a city proclamation that recognized March 31 as Transgender Day of Visibility. Although the city council approved the proclamation, it lacked Wu's signature, and she did not read it out loud. City code states that the presiding officer is responsible for presenting proclamations and that the mayor shall sign all proclamations. The mayor's actions—or lack thereof—prompted reaction on social media. Twenty of the complaints focused on Wu's lack of signature on the proclamation; six also cited her for not reading it aloud. At the city council meeting on March 18, Wu 'yielded the floor' to a council member who voted in favor of the proclamation. She also noted that all proclamations are signed electronically by staff and claimed she did not request her signature to be removed. The board presented its findings during Thursday's meeting. The board said their evidence supports the mayor's original claim that her name was left off the proclamation due to a clerical error. In the report, the Ethics Board summarizes its findings, including Wu's official response to the complaints: 'The Respondent asserts that she has a right not to vote on matters before the Council, and she exercised that right by not voting for the subject Proclamation. Since she did not vote in favor of the Proclamation, she extended an offer to read it to council members who voted in its favor,' the report summarized. 'She says it is false that she refused to sign it, being as surprised as everyone else during the meeting when the document did not have her electronic signature on it.' The report lists out the six codes in which the 22 complaints state Wu violated: Section a. Be dedicated to the ideals of honor and integrity in all public and personal relationships. Section b. Conduct themselves so as to maintain public confidence in the City and its officials. Section e. Ensure that expenditures made by the City are in the interest of the City, for the betterment of the City, and only for appropriate City business, and refrain from actions unreasonably benefiting specific individuals or groups at the expense of the city as a whole. Section g. Address constituents' concerns and needs, striving to provide the highest level of service with equity, neither granting special favor nor discriminating against any citizen. Section h. Work in full cooperation with other officials and employees as they carry out the lawful discharge of their duties, unless prohibited by law or recognized confidentiality of material, to perform the operations of government, and refrain from requesting correction of any municipal code violation beyond the proper process, including but not limited to the fixing of traffic tickets. Section r. Remain impartial in the consideration of the City's business, including the approval of public policies and awarding of contracts. Do not be unduly influenced by family relationships, business interests or religious affiliation in the formulation or adoption of rules, regulations, ordinances, resolutions, or other policy matters. In the end, the board found that Wu only violated section h. 'The Ethics Board finds the evidence did not rise to the level of violating this provision, and this provision arguably does not apply to the present Complaints. No claims within the Complaints alleged influence by family, business, or religious interests,' the summarized report read. The complaint and the respondent have seven business days to request additional review and state any specific dispute of the facts or interpretation of the code of ethics. After seven business days, the findings will become final. If a request is received before then, the issues raised will return to the Ethics Board for reconsideration and a final decision. You can find the full report below: EAB-Report-2025-13-ProclamationDownload Click here to learn more about filing an ethics complaint and how the city handles the complaints. For more Kansas news, click here. Keep up with the latest breaking news by downloading our mobile app and signing up for our news email alerts. Sign up for our Storm Track 3 Weather app by clicking here. To watch our shows live on our website, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
3 days ago
- Yahoo
Western Union (WU) Stock Slides as Market Rises: Facts to Know Before You Trade
Western Union (WU) closed at $9.13 in the latest trading session, marking a -1.3% move from the prior day. This change lagged the S&P 500's daily gain of 0.38%. Elsewhere, the Dow saw an upswing of 0.24%, while the tech-heavy Nasdaq appreciated by 0.24%. Shares of the money transfer company have depreciated by 4.15% over the course of the past month, underperforming the Business Services sector's gain of 3.09%, and the S&P 500's gain of 6.6%. The investment community will be paying close attention to the earnings performance of Western Union in its upcoming release. It is anticipated that the company will report an EPS of $0.44, marking stability compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.03 billion, down 3.44% from the prior-year quarter. For the full year, the Zacks Consensus Estimates project earnings of $1.77 per share and a revenue of $4.12 billion, demonstrating changes of +1.72% and -2.11%, respectively, from the preceding year. Investors should also pay attention to any latest changes in analyst estimates for Western Union. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.1% decrease. Western Union currently has a Zacks Rank of #3 (Hold). In terms of valuation, Western Union is currently trading at a Forward P/E ratio of 5.22. For comparison, its industry has an average Forward P/E of 15.67, which means Western Union is trading at a discount to the group. One should further note that WU currently holds a PEG ratio of 1.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Financial Transaction Services industry stood at 1.39 at the close of the market yesterday. The Financial Transaction Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Western Union Company (WU) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Yahoo
3 days ago
- Yahoo
Boston mayor Wu draws federal backlash for comparing masked ICE agents to neo-Nazis
[Source] Boston Mayor Michelle Wu is taking heat from federal officials after comparing masked ICE agents to 'secret police' and suggesting similarities to a neo-Nazi group during immigration enforcement operations. Catch up The latest rebuke against Wu — who is running for re-election — erupted in late May after she told WBUR that people are 'getting snatched off the street by secret police who are wearing masks and can offer no justification for why certain people are being taken and then detained.' Her comments came amid heightened immigration enforcement operations, including the March arrest of Turkish student Rumeysa Ozturk by masked, plain-clothed ICE agents in a Boston suburb. Federal officials defended the mask-wearing practice by highlighting safety concerns. ICE Acting Director Todd Lyons told reporters, 'People are out there taking photos of the names, their faces and posting them online with death threats to their family and themselves.' Trending on NextShark: Escalation of comments Last week, Wu drew parallels between ICE agents and NSC-131, a New England-based neo-Nazi group. 'I don't know of any police department that routinely wears masks,' she told reporters. 'We know that there are other groups that routinely wear masks. NSC-131 routinely wears masks.' But when pressed on whether she was equating ICE with the organization, Wu declined to directly answer and instead reiterated that local police departments do not routinely wear masks. In response, the Department of Homeland Security called the comparison 'sickening,' while White House spokesperson Abigail Jackson slammed her broader comments as 'disgusting, dangerous attacks on law enforcement.' Trending on NextShark: The big picture Wu's confrontation with federal authorities builds on her March 5 congressional testimony before a Republican-led House Oversight Committee, where she defended Boston's sanctuary policies by asserting that it is 'the safest major city in the country.' The mayor shows no signs of retreating. Yesterday, she signed an executive order mandating regular Freedom of Information Act requests for ICE arrest details, saying 'it is our responsibility to make sure that communication between our residents and the city of Boston in every manner is designed to boost trust and boost collaboration.' She also advised border czar Tom Homan to 'take a time out' on ICE operations nationwide. Trending on NextShark: This story is part of The Rebel Yellow Newsletter — a bold weekly newsletter from the creators of NextShark, reclaiming our stories and celebrating Asian American voices. Subscribe free to join the movement. If you love what we're building, consider becoming a paid member — your support helps us grow our team, investigate impactful stories, and uplift our community. Trending on NextShark: Subscribe here now! Trending on NextShark: Download the NextShark App: Want to keep up to date on Asian American News? Download the NextShark App today!
