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Music venue part of new entertainment district proposed in downtown Tampa
Plans for a new entertainment district in downtown Tampa are in motion.
Bond breakout? Big effects of bad data. Immigration and thermostatic politics & dad-chat is coming for dad-books.
Thank you for opening your Chartbook email. Anna Airy, A Shell Forge at a National Projectile Factory, Hackney Marshes, London, 1918 Bond breakout - John Authers Across the developed markets, bond markets are staging a slow-motion car wreck. Looking at the drastic moves in the US, Japan, the UK and France, Barclays’ Ajay Rajadhyaksha commented: “Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”” Each country has its own contributing political problems, but the uniformity of the shift out of long-term bonds with high duration makes clear that something broader is afoot. For Rajadhyaksha, it is “simple and uncomfortable.” The developed world “has too much debt, too little fiscal discipline, and no political appetite for fixing either.” If there’s a trigger, it has been the Iran war and the resulting shock to oil supply. Source: Bloomberg G7 countries are now borrowing at rates that were enjoyed by EM in the early 2020s For contributing subscribers only. Subscribe Trade between China and Russia has grown in recent years For contributing subscribers only. Subscribe Big effects of bad data A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%. … When the information becomes less reliable, investment decisions get more difficult to make. Some may be delayed, creating a potential drag on the economy. A new working paper by Nicholas Bloom of Stanford University, Erica Groshen, former head of the Bureau of Labour Statistics (BLS) now at Cornell University, and Duncan Hobbs and Michael Strain of the American Enterprise Institute, a think-tank, hazards an estimate. Preserving trust in “the integrity and quality of official statistics”, the authors claim, generates economic benefits of about $25 for every $1 spent on the BLS, the agency with an annual budget of $700m that is responsible for many of these data. To arrive at their conclusion the quartet analysed an ignoble episode in the BLS’s recent history. On August 1st 2025 Donald Trump sacked Erika McEntarfer, appointed as the agency’s commissioner by his predecessor, Joe Biden. The president alleged, without evidence, that the BLS’s steep downward revision to recent jobs numbers had been “RIGGED in order to make the Republicans, and ME, look bad”. In fact, it was the wanton dismissal that looked bad in the eyes of many observers. In the following seven days there was a 50% leap, relative to the week before, in the average value of the index of Economic Policy Uncertainty (EPU), which tracks the number of articles mentioning such uncertainty that are published daily in American newspapers. This was a discernible jump even when compared to the chaos caused by Mr Trump’s trade war in April 2025 and his real one in Iran in the past two months (see chart 2). Based on Mr Bloom’s earlier study with other colleagues of the EPU’s impact on business investment, industrial production and employment, the authors estimate that the jump reduced American GDP by over $100bn (0.3%) and non-farm payrolls by 168,000 (0.1%). Source: The Economist Immigration and thermostatic politics (Sarah O’Connor in the FT) A strange thing happened a year and a half ago. No sooner had Americans elected Donald Trump as president on an explicitly anti-immigration platform than US public opinion began to swing much more favourably towards immigration. … to political scientists who study “thermostatic” politics, this development is no surprise at all. Public opinion often moves against the prevailing party, especially if they are perceived to have gone “too far” in one direction. The phenomenon was first explored in the 1990s with reference to fiscal policy, but in recent years it has been particularly evident in the realm of immigration policy. While these swings in opinion polls can make it seem as if people don’t know their own minds, they can be a useful democratic check on governments by sending bright flashing warning lights when policies stray too far from the public’s comfort zone. The problem comes when politicians misinterpret those signals. When people tell pollsters they want less immigration, or think it is bad for the country overall (or the converse), they are often expressing an opinion about how things appear to be going in that moment relative to their preferences, rather than a deep shift in their underlying views. According to Alexander Kustov, a political scientist, most Americans’ views are quite stable and moderate: they support immigration that is controlled and in the national interest, and oppose flows that are disorderly or under-enforced. In the US, he argues the Trump administration over-interpreted dissatisfaction with high immigration under Joe Biden, and implemented policies that went too far for many voters. “People don’t necessarily change their idea about their ideal immigration policy, but they can react to what the government is currently doing,” he told me. “A lot of people are not happy with what the Trump administration are doing — right now we’re not talking about border enforcement, we’re talking about people not just getting harassed, but killed.” But similarly, he added, pro-immigration advocates would be making a mistake to interpret the recent, more favourable swing towards immigration as a deep-seated ideological shift in attitudes. The recent history of UK immigration policy offers another cautionary tale. After the 2016 Brexit referendum, public concern about immigration fell. This was partly because net migration statistics declined, but also because people felt a sense of catharsis and control, says Sunder Katwala, director of British Future, a think-tank. By 2019, the public ranked immigration as only the ninth biggest issue of concern, according to Ipsos polling. But when the Conservative government liberalised visa routes for students and care workers between 2019 and 2022, that helped net migration to surge. And so, too, did public concern. Today’s Labour government has implemented another sharply restrictive turn in immigration policy. As Kustov and researcher Caitlyn Yates argue, thermostatic public opinion should be a useful check on politicians. Instead it seems to have helped to magnify the pendulum swing in the UK. The government over-interprets and overreacts to a change in public opinion, which reacts in turn, prompting a sudden swing the other way. Source: Financial Times HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Anna Airy, Shop for Machining 15-Inch Shells: Singer Manufacturing Company, Clydebank, Glasgow, 1918 Racing for a vaccine … we have been here before! The deadly Ebola outbreak in two African countries driven by a virus species with no vaccine has triggered an urgent search for a potential jab, in a test of troubled global efforts to avert threats posed by emerging diseases. A World Health Organization advisory group is due to would meet on Tuesday to recommend candidate jabs to prioritise for clinical trials, the global health body said. It will assess data including an analysis by the Coalition for Epidemic Preparedness Innovations (Cepi), which was set up after failures in the international response to a previous Ebola crisis. The latest Ebola outbreak in Democratic Republic of Congo and Uganda has infected hundreds of people and killed more than 80, health authorities say. Cepi’s reaction will be a crucial indicator of its progress towards its wider goal of producing vaccines for pandemic threats in just 100 days, despite steep cuts to international health funding. “If there was ever a time that we could show the world why Cepi is needed and show the world why the 100-day mission is needed, it’s now,” Nicole Lurie, the organisation’s executive director for preparedness and response, told the FT. “We’re happy to accept that responsibility, but obviously we need help from partners — particularly financial help in the long run.” DR Congo and Uganda would make the final decision on whether to press ahead with any vaccine candidates endorsed for clinical trials by the WHO experts, the global health body said. “Other ethical and community acceptability issues will be considered,” said the WHO, which declared the latest outbreak a public health emergency of international concern on Sunday. “This will be important to make sure that the trial, if it happens, will be adequately communicated to the population.” Lurie said Cepi had provided information from a survey of research teams and companies working on drugs that might be effective against the Bundibugyo virus behind the outbreak. The organisation hoped soon to announce partners in the quest for a jab, she added, although she declined to give a timescale for when one might be developed. Cepi’s Nicole Laurie said global health bodies were ‘getting some live-fire drills’ with hantavirus and the latest Ebola outbreak. The hunt for a vaccine should be helped by scientific advances including the use of artificial intelligence to find drugs active against viruses, Lurie said. Existing jabs against the Zaire Ebola virus responsible for many previous outbreaks might provide a basis for tackling the Bundibugyo species, she added. “We’ll see how far and how fast we can get,” Lurie said, adding that Cepi had done preliminary work recently on a possible jab for the rat-borne hantavirus responsible for a recent fatal outbreak on a cruise ship. “Both with hantavirus and now with Ebola, [we] are getting some live-fire drills.” Source: Michael Peel in the Financial Times Dad-chat is coming for dad-books. (By Pamela Paul and Jeffrey A. Trachtenberg in the WSJ) They were the go-to gifts for Father’s Day: a book about some little-known chapter of World War II, the sweeping narrative of a shipwreck, perhaps the latest presidential biography. These days, dad books are a dying breed. Nonfiction book sales have been in decline for the past four years, and are now the most challenged segment of the print book market. Publishers say certain types of books still fare well—including celebrity memoirs and religious titles. But in recent years, print sales in such categories as biography, current affairs and business and economics—what publishers refer to as “serious nonfiction” and which tend to resonate especially with men—have fallen considerably. Sales of nonfiction print titles were down nearly 8% through May 9 this year, and sales of books about politics and current affairs were down 19%, according to book tracker Circana BookScan. Publishing has long been subject to cyclical changes, with trends in format and genre taking over bookshelves in grand sweeps. (Remember the adult coloring-book craze? Or the stratospheric rise of romantasy?) But many in publishing believe the decline in serious nonfiction is more existential. “The trend couldn’t be clearer,” said Jonathan Karp, the former chief executive of Simon & Schuster and publisher of the new Simon Six imprint. “This is a sea change and people should wake up and realize we’re living in a new world.” One culprit for the shift: a new media diet for fans of more serious nonfiction. … Sixty-two percent of men and 54% of women consumed a podcast in the prior month, according to a recent survey by Edison Research at SSRS, up from 46% and 39%, respectively, in 2023. “When we have internal meetings to talk about this problem, it always comes around to podcasts,” said Jonathan Burnham, president and publisher of the Harper Group at HarperCollins Publishers. “The man who wants to read American history is now tuning into one of the many good podcasts about history that lends the quiet attention to a serious subject he’s looking for. It makes the idea of sitting down with a 700-page Ron Chernow book less appealing. You’ve scratched that itch.” Source: Wall Street Journal Remarkable report by Novara from the nationalist rally in London in mid May. Anna Airy, Leopard Moth and Plums, 1915 If you’ve scrolled this far, you know you want to click: Subscribe
From mall to main streets, Erie County businesses that are now gone
A selection from the GoErie.com archives captures Erie County businesses that have closed and the roles they once played in our communities.
The Governor’s Inn to Host Greater Rochester Chamber of Commerce June Business After Hours
The Greater Rochester Chamber of Commerce is pleased to announce that The Governor’s Inn will host a Business After Hours on Thursday, June 4, 2026, from 5:30 to 7:00 p.m. This event will take place at The Governor’s Inn, located at 78 Wakefield Street in Rochester, NH. This event will provide an opportunity to learn...
Politics of potholes: why Bristol can’t fix its broken roads overnight
Marsh Street has been cited as Bristol’s worst for potholes. But it’s just one of many crumbling roads in Britain as councils face repairs backlogs and lack of funds
Another retail chain closing all stores after 33 years in business
Another familiar name on high streets is disappearing as mounting financial pressure and fierce competition continue to reshape the retail industry. The company spent years trying to survive a market that has become increasingly unforgiving. After multiple insolvency proceedings, shrinking sales, ...
'Heart of our city': Ribbon-cutting marks reopening of Downtown Pensacola’s Palafox Street
PENSACOLA, Fla. -- Palafox Street in Downtown Pensacola is back open for business.
Santa Cruz | Seabright businesses brace for Murray Street Bridge closure
In early June, the Murray Street Bridge will completely close to allow the next phase of construction in a $50 million seismic retrofit project. The eastbound lane is set to reopen in mid-September. The looming closure has business owners…
Health officials warn East L.A residents about odor after 2,400 gallons of oil spill
Los Angeles County Public Health officials gave new guidance to residents after a ruptured pipeline released approximately 2,400 gallons of crude oil along a major East Los Angeles street and into …
Sutter Health to build tallest tower in Emeryville with updated hospital plan
Sutter Health is putting more muscle behind its planned Emeryville hospital campus, unveiling a bigger and taller vision for the $1 billion project that could permanently alter both the city’s skyline and Sutter Health’s role in the East Bay health care economy. The Sacramento-based health system released updated plans for its Emeryville Medical Center, outlining a 17-story, 780,000-square-foot hospital at Horton and 53rd Streets in Emeryville, the San Francisco Business Times reported. The project would include 325 beds at full buildout, up from the 200 initially proposed, and would become Emeryville’s tallest building if completed as designed, surpassing the 310-foot […]
How Congress can unleash Main Street’s growth
Small businesses are urging Congress to provide them with tax relief, regulatory reforms, and healthcare savings to help them compete with larger businesses and create jobs.
Sister entrepreneurs’ local business receives “Main Street America” grant
Hinton-based souvenir shop, Hinton Outfitters, announced recently it was awarded the $20,000 grant thanks to American Express and Main Street America.
Sister entrepreneurs’ local business receive “Main Street America” grant
Hinton-based souvenir shop, Hinton Outfitters, announced recently it was awarded the $20,000 grant thanks to American Express and Main Street America.
How states can incentivize local investing to find new capital for businesses and housing
Geographic and corporate concentration in banking and retail is limiting entrepreneurship in many U.S. communities. Existing place-based policies help, but often fail to deliver scalable, tailored investment solutions broadly across rural and urban areas.
Old City Pizza to open at Pearl Street Grill & Brewery May 29
Old City Pizza offers 10 varieties of Neapolitan-style pizzas, homemade pasta dishes, meatballs, authentic Italian sandwiches and salads, and more.
Out-of-the-box business: How Ling Vong’s food truck got more than she bargained for with Labubus
Ling Vong’s decision to sell Labubus alongside her Vietnamese street food wasn’t random, the owner of Dragon Wagon KC and KC Monsters shared. It was a strategy rooted in serving culture, creating experiences, and building community, she said.
Old Falls Street USA announces exciting summer season of events & entertainment in downtown Niagara Falls
Old Falls Street USA is gearing up for an exciting summer season packed with live entertainment, family-friendly activities, festivals, and new events designed to bring residents and visitors together in the heart of Downtown Niagara Falls.
The game\'s afoot as armchair detectives mark Sherlock Holmes Day
From 221B Baker Street in central London to a cliffside waterfall in the Swiss Alps, generations of armchair detectives are celebrating International Sherlock Holmes Day. Fans on Friday honored Sir
£11m entertainment venue set to open in Slough
Mega City, opening on Slough High Street in June, is expected to create more than 80 jobs.
World Cup: “Kick It in KCK” bringing World Cup watch parties, food and festivals to downtown KCK
Kansas City, Kansas, is getting ready for a summer packed with soccer, food and festivals. Visit KCK announced free “Kick It in KCK” World Cup watch parties at Memorial Hall along with several One World Wyandotte street festivals downtown throughout June.
Street drinking approved for some downtown Fresno events. Here’s how ordinance works
A new permit allows patrons to take alcoholic drinks outside of bars and into the street during some events.
Take-Two forecasts annual bookings below estimates, sticks with 'GTA VI' launch timeline
Take-Two Interactive forecast annual bookings below Wall Street expectations on Thursday, but reiterated the November 19 launch date for the highly awaited "Grand Theft Auto VI," sending its shares up around 6% in extended trading.
What’s next for Tampa’s Water Street? A lively entertainment district
Tampa’s Water Street development took a sleepy area dominated by parking lots and turned it into a bustling downtown with high-rise apartments and high-end restaurants. That transformation is most pal...
What’s next for Tampa’s Water Street? A lively entertainment district
City staff will review plans for a new music venue and hotel across from the Tampa Bay Lightning’s arena.
Beloved Italian restaurant in Mass. closing after almost 100 years in business
[This story first appeared on Boston Restaurant Talk.] A longtime Italian restaurant in the western suburbs of Boston that appeared to be closing around the start of the pandemic only to remain open is now closing for real. According to a source, Carbone’s Restaurant in Hopkinton is shutting down, with a MassLive article mentioning that the Cedar Street dining spot…
RWJBarnabas Health Launches NJ’s First Ever Street Medicine Program to Serve Unhoused Population, Deliver Critical Care and Lowe
RWJBarnabas Health today launched New Jersey’s first Street Medicine Program at Trinitas Regional Medical Center (TRMC) to bring essential care and services directly to unhoused individuals across the City of Elizabeth with the goal of expanding to other areas in the state to improve access to care among a particularly vulnerable population.
South Side moves to establish funded business district for East Carson Street
The South Side is working to reestablish a funded community organization to focus on maintaining and improving its East Carson Street business district.
Developers outline huge Water Street Tampa expansion, new entertainment district
Strategic Property Partners, the team behind Water Street Tampa, has outlined a significant expansion for the downtown district. Featuring a new music venue,
Music Executive Dennis Arfa to be Inducted into the Long Island Music and Entertainment Hall of Fame
Induction part of 2-day Billy Joel Symposium Event Stony Brook, NY — The Long Island Music & Entertainment Hall of Fame (LIMEHOF) will induct Dennis Arfa, Billy Joel’s longtime booking agent and chairman of the Music Division at Independent Artist Group at a special ceremony at 7pm on June 6 th at their Stony Brook Village location (97 Main Street). The event will feature special guests and a live music performance. The induction will be part of the 2-day ‘Billy Joel Symposium’. The event is open to the public and requires special event tickets.
Seaport Entertainment Seeks New Path With Closure Of Food Hall
Seaport Entertainment's sale of 250 Water Street has eliminated $61.3 million in debt and $7 million of annual cash burn. See why SEG stock is a Hold.
The Banks That Won a Piece of SpaceX’s Colossal I.P.O.
Across Wall Street, bankers have been clamoring to lead what is expected to be the biggest-ever initial public offering.
Rich already being taxed properly, says minister, as Streeting calls for ‘wealth tax that works’– UK politics live
Treasury’s Lucy Rigby says Rachel Reeves introduced measures in her first budget as Streeting calls for capital gains rates to be aligned with income tax
Nvidia beats Wall Street expectations amid AI chip boom, Asian tech stocks surge
Rolling coverage of the latest economic and financial news
First Ingrid match footage released for Street Fighter 6 showcasing what the mystery magical girl is truly capable of in combat
Ingrid's big launch in Street Fighter 6 is now just a week away, and we're getting our best look as to how she'll actually function in the game.A bunch of Japanese publications have just now released ...
This Philadelphia street artist combines love of sports and art to create artwork under I-95
Street drinking at some downtown Fresno events could be on its way. Council to vote
It would establish three ‘entertainment districts’ along Fulton Street, allowing patrons to take alcoholic drinks outside of bars and into the street during events.
Nvidia delivers earnings beat. See the key numbers.
Wall Street is closely watching Nvidia's fiscal year Q1 2027 earnings for signals on wider AI demand and the chipmaker's China business.
‘Still shakes me’: Contractor recounts finding human skull in crawl space of Rock Hill business
The remains were discovered around 11:30 a.m. on Tuesday at a business along Oakland Avenue near North Trade Street.
How America’s Leading Retail Banks Work to Understand their Small Business Clients and Build Frameworks to Support them Best
The Consumer Bankers Association (CBA) is excited to celebrate Small Business Month 2026 with a new series of blogs highlighting the many ways in which America’s leading retail banks are working to support small businesses on Main Streets across the country. This blog showcases how three CBA members – TD…
DoorDash Launches National Small Business Campaign » CBIA
DoorDash launches national Unlocking Main Street campaign to empower small businesses, making it easier for them to open, operate, and grow.
Britain Politics
Britain's Prime Minister Keir Starmer departs 10 Downing Street to go to the House of Commons for his weekly Prime Minister's Questions in London, Wednesday, May 20, 2026. (AP Photo/Alastair
Britain Politics
Britain's Prime Minister Keir Starmer departs 10 Downing Street to go to the House of Commons for his weekly Prime Minister's Questions in London, Wednesday, May 20, 2026. (AP Photo/Alastair
Bakersfield businesses describe struggle with construction on 18th and 19th streets
If you’ve walked down 18th or 19th Street in Bakersfield lately, you’ve likely hit a few obstacles. Literally.
Google’s interactive world builder, Project Genie, will drop you in real places using Street View
Google just announced its world-exploring game, Project Genie, is getting a new feature that drops you in real-world locations, like...
OpenAI’s Legal Win Against Musk Still Stings | AI & Business for May 19
Plus, a Wall Street-backed cloud-computing effort and rising opposition to AI
VIDEO: NFIB’s Josh McLeod Discusses Top Small Business Issues on C-SPAN
WASHINGTON, D.C. (May 19, 2026) – NFIB Director of Federal Government Relations Josh McLeod joined C-SPAN’s Washington Journal on Monday to discuss the current state of the small business economy and the top issues that are impacting Main Street. McLeod explains how the 20% Small Business Deduction
Goldman Sachs, Moelis Say Business as Usual Amid Iran Conflict
Goldman Sachs Group Inc.’s international co-heads say the turbulent start to the year has done little to deter clients, underscoring Wall Street’s bullish outlook despite events like the Iran war.
1 hurt in shooting at west Charlotte check cashing business
It happened just after midnight at the PLS Check Cashers on South Tryon Street at West Boulevard, officials said.
Jacobs Entertainment celebrates the completion of Phase One in Downtown Reno
Jacob’s Entertainment is celebrating the completion of Phase One, following a $400 million investment and five years of revitalizing the historic 4th Street in Downtown Reno.
Pacoima business owners say city cleared troubled street overrun by encampment after ABC7 probe
A street in Pacoima was long overrun with filth. That encampment, once dubbed the "Skid Row of the Valley," has now been cleared, and locals say it happened after they reached out to ABC7.
TXSE pulls from Jane Street, blockchain, D-FW business for new leaders
The upstart exchange announced its board of directors, while its parent company TXSE Group named a CFO.
Carvana Makes Shift Into New Car Business
Used-car giant Carvana is reportedly making a push into the new vehicle market. As The Wall Street Journal (WSJ) reported Monday (May 18), the company has
55-Story Tower could become Reno’s tallest building in J Resort plans
The celebration took place in the property's new 4th Street expansion.
Whoa! Netflix is Sending Narnia Heading to Theaters...What This Means for the Future of Film
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Here’s a funny thing about the debate over whether streamers should release their movies in theaters first: Both sides think the other side represents the “conventional wisdom”. If you’ve been reading me for any amount of time, or even just scanned my front page, you know I think movies make more money by having a robust theatrical window compared to going straight-to-streaming. I’ve published thousands of words on this topic. And for years, I felt like I was standing up to a wave of opposition. See, while the “put your films in theaters to make money” take was obvious at any point before 2019, post-streaming revolution, most of the trendy thinkers took the opposite point of view. Big names argued that Netflix putting their film straight-to-streaming (“S-to-S” from here on out) actually made more money. Netflix was “disrupting” theaters, just as they disrupted Blockbuster Video, and since innovation is always good, this too was a great idea. This thinking then leaked into the mainstream business outlets like the Wall Street Journal and Bloomberg. I read many articles whose take boiled down to “Netflix makes tons of money from S-to-S releases” and “theaters were in structural decline” anyways. Covid-19 shutting down theaters and the 2023 strikes shutting down film production seemingly justified this point of view, as the box office struggled to return to 2017-2019 heights. Yet I’ve also read folks arguing the opposite point: the conventional wisdom says to put films in theaters! From some writers’ points of view, “everyone” actually agrees/agreed with my “send your films to theaters” take—especially the stodgy traditional studios—and folks still didn’t understand Netflix’s genius. I feel like, for the last two years, many people have argued this point as if it’s conventional wisdom. You know what? I may have been wrong. At this point, the “S-to-S strategy makes money” might be the minority viewpoint. Especially with the news this month that Netflix will put at least one film—Greta Gerwig’s Narnia film The Magician’s Nephew—in theaters in 2027 for a full 49-day run is big news. So that’s the story of the week, but I’ll also explain why they’re making this move now and why Netflix may not completely embrace theaters, along with other topics, like how I don’t buy Disney’s “super app” strategy, the latest good news out of the unions, my take on the latest attacks against free speech, and a whole lot more. Let’s get started. Subscribe Most Important Story of the Week - Netflix Goes to Theaters! Listen, I promise not to victory lap too hard today. As I just wrote, I’ve argued against sending films straight-to-streaming for—checks calendar—eight years now. Since 2018. Yikes. That’s a long time. And for years, others painted my thinking as “conventional” in that I was standing up for the status quo against trendy, cool disruption. And that’s not cool! But math is math, and I never could make the S-to-S numbers work. The only thing that ever enabled that model was Wall Street’s brief exuberance for it. It seems like the heads of Netflix now agree with me. (There were always rumors that former head of film for Netflix Scott Stuber argued internally for theatrical releases as well.) As they announced: “The Magician’s Nephew_—the first film in a Narnia series of films—will open on 12-Feb-2027, with a 49 day theatrical exclusive run.”_ I’m a little surprised at how little coverage this big change actually got. Credit to Bloomberg for leading with it and Matt Belloni’s The Town for highlighting it with the provocatively titled podcast “Hell Hath Frozen Over”. But after that? Instead of getting as much coverage as, say, the FCC’s latest egregious crackdown on free speech, this news story got crickets. But it’s massively more important for the future business of entertainment. So let’s start with the obvious question… Why Put Your Movies in Theaters? So…why should Netflix put (some!) of their movies in theaters? Well, I’ve already written that in a very, very, very long article from 2022: [ ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) [ The Data Is In: Theatrical Films Massively Outperform Straight-To-Streaming Films ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) Entertainment Strategy Guy · April 5, 2023 [ Read full story ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) To summarize, theatrical runs make much more money, especially blockbusters, because they earn more money per viewing,1 and that helps boost home entertainment sales. Theatrical films also perform as well or better than the streaming-only films. Now, partially this is driven by increased marketing for said films, but said marketing ultimately boosts the awareness of the movies and drives improved streaming and library performance as well. Again, I’ve made this case after reviewing the economic models and streaming data for years. Just last week, Emily Horgan also made the case for kids films! Yes, it is probably conventional wisdom, but that’s also because it’s true! I’d also argue we’ve seen a lot of data in the various studios’ behavior. As I’ve noted before, the more a studio needs to make money, the likelier they are to put films in theaters. As such, Disney, Universal, Warner Bros., Paramount and Sony all send their major films to theaters. Even if they once made a big S-to-S push (*cough* Disney *cough*), they’ve since relented and returned to theaters. The tech companies don’t need to make money, per se, so it took them years to embrace theaters. Apple doesn’t need to make money because it doesn’t disclose their (likely) Quibi-sized losses each year. (They fear bad press more than losing money.) Amazon announced two years ago that they planned to make Amazon-MGM Studios/Prime Video profitable on its own, and guess what? Now they’re putting films in theaters. That leaves Netflix. They’re in between the “no need to make money at all” and the “desperately need to make money to offset linear TV declines”, so they had less pressure to put some films in theaters. Plus, for years, they were the sexy disruptor, and Wall Street rewarded them for that. (Honestly, they still do.) Yet, even Netflix likely saw the money they were leaving on the table (I’ve estimated it at an easy billion dollars before) so they changed their course. I heard one pundit argue that, because Netflix already makes so much money, they don’t need to make more money, which sort of goes against everything I’ve ever learned about business and economics. Again, to be super-nuanced, sending “films to theaters” does not mean EVERY film. TV movies have been a thing for decades. Lifetime films, Hallmark holiday films, Disney Channel Original Movies, and so on, don’t need theatrical runs. But films above a certain budget level (say $25 to 50 million) almost certainly need theaters to maximize their revenue. The Scenarios (with a Dose of Skepticism) Now time for some skepticism: it won’t surprise me at all if Netflix re-changes course. Specifically, Netflix announced that their Narnia film will go to theaters. And I’d bet anything we see KPop Demon Hunters 2: The Huntering2 also goes to theaters, cause it’s the surest hit outside of a Disney animated sequel right now. But how much does Netflix truly commit to theaters? They’ve already tried to emphasize that this is a one-off move. I see three broad scenarios:
Jacobs Entertainment completes Phase One of Reno’s Neon Line District
The celebration took place in the property's new 4th Street expansion.
Business Buzz: The mountain market whiplash and the 6th graders beating Wall Street
Popular Thai-inspired cocktail bar in Highland Park temporarily closed by health department
A popular Highland Park cocktail bar that serves Thai street food-inspired fare has temporarily closed its doors after county health inspectors cited it for health code violations. The Goldfish at …
Meet ‘Snuffleupagus,’ a newfound fish sporting shaggy camouflage
Found near Australia, Solenostomus snuffleupagus is a shaggy swimmer that closely resembles Mr. Snuffleupagus from Sesame Street.
This Week In Main Street Technology: Meta’s New AI Glasses, Google Introduces The Googlebook And Claude Has A Small Business Offering
Meta Ray-Bans, Google's Googlebook, Claude For Small Business and other news impacting your small business this week.
Prantl’s owner responds to health department consumer alert
Joe Cugliari, owner and president of Prantl’s Bakery, issued a statement following the Allegheny Health Department’s consumer alert regarding the bakery’s Walnut Street location in Shadyside. According to the department’s Thursday report, the bakery had a presence of rodent droppings on multiple surfaces, damaged exterior walls, soiled food equipment, old
Gallery of Historic Entertainment Venues in Oxford, Valparaíso, and Osaka Reflect Growing Pressures on Cultural Infrastructure - 4
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Larry the cat, Chief Mouser to the Cabinet Office and a police officer are next to the 10 Downing Street door in London, Friday, May 15, 2026.(AP Photo/Kin Cheung)
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Britain Politics
Journalists wait opposite 10 Downing Street in London, Friday, May 15, 2026.(AP Photo/Kin Cheung)
Britain Politics
Journalists wait opposite 10 Downing Street in London, Friday, May 15, 2026.(AP Photo/Kin Cheung)
Britain Politics
Britain's newly appointed Secretary of State for Health and Social Care James Murray leaves 10 Downing Street in London, Friday, May 15, 2026.(AP Photo/Kin Cheung)
Britain Politics
Britain's newly appointed Secretary of State for Health and Social Care James Murray leaves 10 Downing Street in London, Friday, May 15, 2026.(AP Photo/Kin Cheung)
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Public Notice: Ashland City Council Business Meeting Agenda - Ashland News - Community-Supported, NonProfit News
Ashland City Council Business Meeting Agenda Tuesday, May 19, 2026Council Chambers, 1175 E Main Street Live stream via RVTV Prime at rvtv.sou.edu or broadcast on Spectrum 180. Public comment is
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FILE - Britain's then Heath Secretary Wes Streeting gestures as he speaks during the annual Labour Party conference in Liverpool, England, Tuesday, Sept. 30, 2025. (AP Photo/Jon Super, File)