Harvard Created Windfall From Bringing Executives Back to School
Harvard University is drawing an increasing share of its revenue from helping businesspeople beef up their résumés, giving America's oldest institution of higher learning a lifeline as it confronts its largest-ever crisis.
Years before the Trump administration halted billions of dollars in federal funding over allegations of antisemitism, discrimination and a lack of differing viewpoints on campus, the wealthiest US university had been putting a greater emphasis on professional and executive education.
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The Verge
a few seconds ago
- The Verge
Sonos confirms tariffs will increase its prices this year
Tom Conrad took over as CEO of Sonos in January as it continues to recover from last year's disastrous mobile app update, and now the company has issued its first quarterly earnings report after he dropped the interim tag from his title. Beyond the numbers, with $344.8 million in revenue and a net loss of $3.4 million, Conrad acknowledged the impact that President Trump's tariffs will have on its business, saying that 'it has become clear that we'll need to raise prices on certain products later this year,' as reported earlier by Bloomberg. Conrad didn't go into detail on the price changes and said that Sonos is working with its partners to share the extra costs, as nearly all of its products for the US are made in Vietnam and Malaysia, which are both facing higher tariff rates soon. Conrad: With respect to our operations, like many companies, the most significant near-term challenge has been the uncertain tariff environment. As a reminder short of a few accessories, and our passive speaker partnership with Sonance (I think this is what he said?) we do all of our us-bound manufacturing in Vietnam and Malaysia. We talked last quarter about the contingency planning we underwent to minimize the effects of terrorists on our business, while also doing what we can to limit the downstream impact to our customers. Last week's news, the tariff rates we were subject to going forward, appeared to be 20 percent for Vietnam and 19 percent for Malaysia. We continue to work closely with our contract manufacturers and our Channel Partners to share tariff costs, though it has become clear that we'll need to raise prices on certain products later this year. As these pricing changes land, we'll monitor consumer behavior closely as well as competitive Trends across our categories and will make adjustments in collaboration with our Channel Partners, when and if necessary, to ensure we're exploring every opportunity to optimize our respective top and bottom lines. In response to one of the analyst's questions, Conrad said, 'I think the best way to think about what we're trying to do here strategically is to craft a pricing plan that supports our goal of optimizing growth profit dollars.' As a result, the executive said that the price changes could vary across different products, depending on the market and with an eye towards what competitors are doing. He pointed to some software updates Sonos has released lately, like multiuser TV audio swap and TrueCinema audio adjustments for its Ace headphones, and a recent AI speech enhancement for the Arc Ultra. Posts from this author will be added to your daily email digest and your homepage feed. See All by Richard Lawler Posts from this topic will be added to your daily email digest and your homepage feed. See All Business Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Sonos Posts from this topic will be added to your daily email digest and your homepage feed. See All Speakers Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech
Politico
13 minutes ago
- Politico
Trump DOE alum signs California utility company
With help from Daniel Lippman A note to our readers: Starting on Thursday, your longtime author Caitlin will pair with reporter Daniel Barnes to write Influence. Daniel covers Big Law and lobbying and joined us from NBC News in March. This is important: If you've got a tip or feedback going forward, please be sure to email Caitlin (coprysko@ and Daniel (dbarnes@ both. NEW BUSINESS: Pacific Gas & Electric Company has retained a former Energy Department official who worked in the first Trump administration to lobby on funding issues, according to a disclosure filing. Mountain View Partners' Dwayne Bolton served as a congressional liaison at DOE during President Donald Trump's first term before joining the department's Office of Economic Impact and Diversity and Office of Environmental Management. — Bolton began lobbying for the California utility giant in June at the height of negotiations over the phaseout of clean energy tax credits in the GOP megabill and uncertainty about the fate of financing secured during the Biden administration. — Days before Trump took office, the Energy Department finalized a $15 billion loan guarantee for PG&E for investments in hydropower and battery storage projects as well as grid improvements. It was the largest loan ever for DOE's Loan Programs Office. Despite the guarantee, PG&E asked California regulators to approve a rate hike earlier this year due in part to 'uncertainty' about its fate. — Meanwhile, a group of pilots that is pushing to raise the mandatory retirement age brought on a new outside lobbying firm last month ahead of a big win for the cause. Let Experienced Pilots Fly retained Florida lobbyist Ward Blakely of Blue Tusk Communications last month to advocate for bumping the mandatory retirement age for commercial pilots from 65 to 67 in an effort to address pilot shortages. — The week after Blakely began working on behalf of the group, a bipartisan group of senators — including Majority Leader John Thune and former astronaut Mark Kelly (D-Ariz.) — urged the Trump administration to take a more active role at the International Civil Aviation Organization. That group sets safety standards for the global aviation industry and has broached the idea of raising the recommended pilot retirement age. — A few days later, Trump nominated retired Delta Air Lines pilot Jeffrey Anderson — who previously consulted for the pilots group — to fill the vacant post of U.S. ambassador to the ICAO. The choice of Anderson, however, quickly drew a rebuke from the Air Line Pilots Association. Happy Wednesday and welcome to PI, where your host couldn't be more pumped to have Daniel Barnes come aboard to help chronicle the daily goings on on K Street. Shoot him a note to say hello and — again — be sure to send us both (I'm not going anywhere!) your influence scoops and tips. You can add me on Signal at caitlinoprysko.17 and email me at coprysko@ and you can add Daniel on Signal at danielbarnes.13 and email Daniel at dbarnes@ And follow us on X: @caitlinoprysko and @dnlbrns. COULD LITIGATION TAX LIVE TO SEE ANOTHER DAY?: Our friends at Inside Congress report this morning that there are rumblings that business groups, conservative advocates and major insurers are making moves to lobby Hill Republicans around reviving the push to impose a tax on litigation financing. — A proposal championed by Sen. Thom Tillis (R-N.C.) and Rep. Kevin Hern (R-Okla.) would levy a 40.8 percent tax on the profits from litigation funding agreements that supporters say could prevent more frivolous lawsuits. It fell out of the GOP's party-line policy package earlier this year for not complying with Senate rules. — 'We'll see if they can make changes to pass muster with the parliamentarian this next go-around or if they'll have to search for another vehicle to get this fix past the finish line,' John Shelton, policy director for Advancing American Freedom — the nonprofit group founded by former Vice President Mike Pence — told Benjamin Guggenheim. — The litigation funding industry will have more lobbying firepower from the get-go if the issue is revived, having brought on three new outside lobbying firms during the reconciliation fight. — They include OnMessage Public Strategies, the lobbying arm of the GOP consulting firm that has been paid tens of millions of dollars by Tillis' campaigns during his congressional career, per FEC records; Checkmate Government Relations, which is led by the brother of Rep. Addison McDowell (R-N.C.); and Red Maple Consulting, which is run by the former chief of staff to Rep. Tom Cole (R-Okla.). WHERE DO YOU DRAW THE LINE: Common Cause, 'the nation's most prominent anti-gerrymandering organization,' has found itself in the middle of 'a tense internal debate over whether to modify its position opposing all partisan redistricting, a remarkable development in response to a gerrymandering war that has broken out across the nation,' according to The Christian Science Monitor's Cameron Joseph. — 'It's a sign that after two decades of hard-won progress against partisan line-drawing, the movement is facing an existential crisis. … On Monday night, after a meeting by the organization's national governing board, the group's president and CEO Virginia Kase Solomón emailed organization leaders asking them not to make any new statements on gerrymandering until the board issued further guidance, which she said would come later this week.' — 'The request to stand down comes as Democrats in California are pushing to temporarily suspend the state's independent redistricting commission to allow them to draw five or more new Democratic-leaning House districts.' The move, which 'would undo anti-gerrymandering reforms that Common Cause helped make law in 2010,' comes as GOP lawmakers in Texas and other red states mull their own redistricting plans ahead of the midterms. ANNALS OF BIG FIRE: 'Fire retardant, the reddish liquid dropped from planes to slow spreading flames, has become an indispensable tool for saving lives and property from more frequent and intense wildfires. But the entire supply of the product in the United States is controlled by a single company,' The New York Times' Chris Hamby reports, thanks to 'an extensive lobbying and public-relations campaign' carried out by that company, Perimeter Solutions. — The push has 'undercut would-be rivals, even as government officials have voiced concerns about the risks of relying on one source for such an essential product' and allowed Perimeter to leverage its 'dominance to boost profits at the expense of federal and state government agencies — its biggest customers.' CBA ADDS 3: The Consumer Brands Association has added Lauren Berkowitz as director and legal counsel, Susanna Blair as senior director of regulatory and technical affairs and Will Grassle as packaging and sustainability policy manager. Berkowitz spent the past 16 years at FDA, most recently as a policy analyst and regulatory counsel in the Office of Foods & Veterinary Medicine and Center for Food Safety & Applied Nutrition. — Blair most recently worked in EPA's Office of Pollution Prevention and Toxics, and Grassle was most recently an associate for circularity policies and programs at the Product Stewardship Institute. INTEL IN THE HOT SEAT: 'U.S. Republican Senator Tom Cotton sent a letter to Intel's board chair on Wednesday with questions about the chipmaker's new CEO Lip-Bu Tan's ties to Chinese firms and a recent criminal case involving his former company Cadence Design,' per Reuters' Max Cherney. — 'Writing to 'express concern about the security and integrity of Intel's operations and its potential impact on U.S. national security,' Cotton asked in the letter to Intel chairperson Frank Yeary whether the company's board was aware of the subpoenas sent to Cadence during Tan's time there as CEO before Intel hired him.' — 'He also asked whether Intel's board required Tan to divest from chip firms in China linked to the Chinese military or Communist Party, and if Tan adequately disclosed other ties to Chinese companies due to Intel's involvement in the Secure Enclave program, an initiative designed under the Biden administration to ensure a secure supply of microelectronics for defense.' Jobs report — Jena McNeill has joined The Ingram Group doing Kentucky and federal affairs. She was most recently director of government and legislative relations at East Kentucky Power Cooperative and is a Joni Ernst and Ron Johnson alum. — Former FCC Chair Jessica Rosenworcel is joining the MIT Media Lab as its executive director. — James Mazzarella is joining the Atlantic Council's Freedom and Prosperity Center as a senior fellow. He previously was a senior associate at the Center for Strategic and International Studies, and is a National Security Council alum. — Michael Qian is now a partner in the Supreme Court and appellate practice at Haynes Boone. He most recently served as counselor to the attorney general at the Department of Justice. — Kristi Johnson is now comms director for Jordan Wood's Senate campaign in Maine. She previously was rapid response director for the Kamala Harris campaign in Wisconsin and was national press secretary at NextGen America. — RXN has promoted Emma O'Rourke to director of public affairs and Taylor Kotula to chief of staff. — Arun Venkataraman is now a partner at Covington & Burling LLP. He most recently was assistant secretary of commerce for global markets and director general of the U.S. and foreign commercial service at the International Trade Administration. — Zunera Mazhar is now vice president of policy at The Digital Chamber. She previously was deputy director and deputy chief innovation officer at FDIC. — Ben Cassidy has launched Fifth Wave, a government affairs and strategic advisory firm focused on conservation, infrastructure and public-private partnerships. He most recently was chief policy officer at Nature Is Nonpartisan. — Lily Israel has been promoted to be senior legislative analyst at GrayRobinson. New Joint Fundraisers Burchett Luna Victory Fund (Reps. Tim Burchett, Anna Paulina Luna) New PACs Allina Venture Inc (Hybrid PAC) Chaos Industries Inc Political Action Committee (CHAOS PAC) (PAC) Get's It Done PAC (Super PAC) Valley-Westside United PAC (Super PAC) New Lobbying REGISTRATIONS Corcoran & Associates, Inc. Dba Corcoran Partners: Impsa International, Inc Corrigan & USsery LLC: Solstice Advanced Materials US, Inc Hahn Lobbying And Consulting, LLC: Veterans Guardian Hb Strategies: Wp Construction And Mining Mercury Public Affairs, LLC: Bank Of America Corporation Mercury Public Affairs, LLC: Lam Research Corporation Rich Feuer Anderson: National Installment Lenders Association Shw Partners LLC: Divergent Technologies, Inc. Sl Strategies, LLC: University Of Texas Medical Branch Telegraph Avenue Advisors: Specialty Equipment Market Association The Mcmanus Group: Royal Biologics Zero Mile Strategies: Inc. Zero Mile Strategies: Skysafe New Lobbying Terminations Aduston Consulting, LLC: Rai Services Company Ameliorate LLC: Jewish Family & Children'S Services Ballentine Strategies: Electronic Payments Coalition C6 Strategies, LLC (Fka Ms. Dana W. Hudson): Aeon Industrial C6 Strategies, LLC (Fka Ms. Dana W. Hudson): Scola Corrigan & USsery LLC: Honeywell International, Inc. Gallant Government & Law Group, LLC: Klein Law Group Pllc On Behalf Of Highline Lantheus Holdings, Inc.: Lantheus Holdings, Inc. One Action: One Action Perspective Strategies: Brightstar Care
Yahoo
28 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures waver as Trump's trade deadline nears
US stock futures wavered just above the flatline with President Trump's trade deadline fast approaching. Futures attached to the Dow Jones Industrial Average (YM=F) ticked up 0.1%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) rose 0.2%. Trump's deadline for trade deals lands at 12:01 a.m. ET on Thursday. The president has teed up sweeping tariffs to hit dozens of countries that have so far not negotiated trade agreements with the US, saying there are no plans to further delay hiking rates this time. Read more: The latest on Trump's tariffs Apple (AAPL) shares climbed Wednesday afternoon as Trump and CEO Tim Cook announced the company would make a $100 billion investment in the US. As part of the deal, Apple will manufacture the cover glasses for iPhones and Apple Watches in Kentucky. The president also said at the press conference that he will eventually set a 100% tariff on semiconductors, but companies like Apple that commit to building in the US will be exempt from the tariff. Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT) reported earnings after the bell. DoorDash shares jumped on an upbeat forecast driven by resilient delivery demand. Airbnb and Lyft, meanwhile, fell on disappointing guidance. Stocks gained in day trading on Wednesday, buoyed by a slate of earnings that beat Wall Street expectations, including McDonald's (MCD) and Disney (DIS). The lead up to Apple's announcement of fresh investment in the US also boosted its stock and sent the Nasdaq higher. On Thursday, in addition to grappling with the latest trade policy shifts, Wall Street will receive new data on weekly jobless claims. The state of the labor market is in high focus following a disappointing July jobs report and downbeat revisions to the May and June jobs reports. 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
