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CARSON, Calif. — Joseph Paintsil and Dejan Joveljic scored in the first half, and the LA Galaxy won their record sixth MLS Cup championship with a 2-1 victory over the New York Red Bulls on Saturday. After striking twice in the first 13 minutes of the final with goals from their star forwards, the Galaxy nursed their lead through a scoreless second half to raise their league's biggest trophy for the first time since 2014. MLS' most successful franchise struggled through most of the ensuing decade, even finishing 26th in the 29-team league last year. But the Galaxy turned everything around this season with a high-scoring new lineup that finished second in the Western Conference and then streaked through the playoffs with a playoff-record 18 goals in five games to win another crown. Sean Nealis scored for the seventh-seeded Red Bulls, whose improbable postseason charge ended one win shy of their first Cup championship. With the league's youngest roster, New York fell just short of becoming the lowest-seeded team to win MLS' playoff tournament under first-year German coach Sandro Schwarz. The Galaxy won this title without perhaps their most important player. Riqui Puig, the playmaking midfielder from Barcelona who ran their offense impressively all season long, tore a ligament in his knee last week in the Western Conference final. Puig watched this game in a suit, but his teammates hadn't forgotten him: After his replacement, Gastón Brugman, set up LA's opening goal with a superb pass, Paintsil held up Puig's jersey to their fans during the celebration. Brugman was named the MLS Cup MVP after a commanding performance in midfield. The Uruguayan hadn't started a match for the Galaxy since Oct. 5, playing only as a postseason substitute before the final. Galaxy goalkeeper John McCarthy made four saves to win his second MLS title in three seasons. He was the MVP of the 2022 MLS Cup Final for the Galaxy's crosstown rival, Los Angeles FC. Paintsil put the Galaxy ahead in the ninth minute when he ran onto that sublime pass from Brugman and pounded home his 14th MLS goal — including four in the playoffs — in the Ghanaian forward's outstanding first season. Just four minutes later, Joveljic sprinted past four New York defenders and chipped home the 21st goal of his outstanding year as the Galaxy's striker. Nealis got New York on the scoreboard in the 28th minute when he volleyed home a ball that got loose in LA's penalty area after a corner. The Galaxy's usually shaky defense gave up another handful of good chances before reaching halftime with a tenuous lead. The second half was lively, but scoreless. Red Bulls captain Emil Forsberg hit the outside of the post in the 72nd minute, while LA's Gabriel Pec and Galaxy substitute Marco Reus nearly converted chances a few moments later. The ball got loose again in the Galaxy's penalty area in the third minute of extra time, but two Red Bulls couldn't finish. The Galaxy bench rushed onto the field and prematurely celebrated a victory in the seventh minute of injury time, only to be herded back off for another 30 seconds of play. After Galaxy owner Phil Anschutz received the MLS Cup that bears his name because of his steady financial support of the league during its shaky years, Galaxy captain Maya Yoshida carried the trophy onto a stage filled with his teammates for a celebration amid fireworks and confetti. The Galaxy extended their lead over DC United (4) for the most MLS Cup championships in league history. The Red Bulls remain one of three original MLS franchises never to win the title, along with FC Dallas and the New England Revolution. The Galaxy's Greg Vanney became the fourth coach to win an MLS title with two clubs. The former Galaxy player also won it all with Toronto in 2017. The Galaxy finished 17-0-3 this season at their frequently renamed suburban stadium, where the sellout crowd of 26,812 for the final included several robust cheering sections of traveling Red Bulls supporters hoping to see their New Jersey-based club's breakthrough on MLS' biggest stage. Just last season, the Galaxy's own supporters boycotted the team at certain matches, fed up with years of mismanagement and no progress. The club famous for employing global stars from David Beckham and Zlatan Ibrahimovic to Robbie Keane and Javier "Chicharito" Hernández swiftly rebuilt itself into a contender this season by spending big to get lesser-known young talents from around the world. The Galaxy signed Pec from Brazil and Paintsil out of Belgium. The duo combined with incumbent Serbian striker Joveljic to form a potent attack that could outscore almost any MLS opponent. But the Galaxy also relied heavily on Puig, their Catalan catalyst and one of MLS' best players. Puig stayed in last week's game after injuring his knee, and he even delivered the decisive pass to Joveljic for the game's only goal. Get local news delivered to your inbox!
Thaksin says PM to lead new anti-drug task forceThe back half of 2024 has been a strong period for speculative high-growth stocks. Like dozens of these companies, Archer Aviation ( ACHR 8.09% ) is up over 100% in the past month, with its stock boost happening right around the United States presidential election. Archer Aviation is an air taxi company looking to build a network in multiple wealthy cities around the globe with its point-to-point strategy. Is Archer Aviation stock a buy, sell, or hold for investors today? Let's take a look into this soaring air taxi start-up and find out. Big potential in commercialized air taxis Archer Aviation is building a fleet of electric vertical take-off and landing taxis, otherwise known as eVTOL. They are similar to helicopters, but slightly different and less noisy, which should allow them to operate more in cities. Management is aiming to tackle heavily traffic routes that take around an hour to drive, such as going from downtown Manhattan to the airport. In its proposed route, a trip from the south end of Manhattan to Newark Airport will take only nine minutes. Customer value comes from the exclusive service and time saved, which wealthy people will pay a pretty penny for. Due to the long regulatory journey, Archer Aviation is not operating today. In 2025, it plans to produce around two aircraft per month and (hopefully) commence operations in New York, Tokyo, and Abu Dhabi. Its order book is large, estimated to be over $6 billion, which shows the commercial demand for eVTOL taxis if the technology and infrastructure can work correctly. Once the test routes start working, there is a near-endless growth runway for Archer Aviation to go after. There isn't a city around the world that doesn't deal with traffic issues, with more and more routes that can be added to its point-to-point network in major urban areas. It will be a long journey, but this disruptive new mode of transportation could become a big deal over the next decade, at least in a select few cities around the globe. No revenue, heavy losses Potential is a word that should be associated with Archer Aviation. Don't think this is a slam-dunk guarantee yet. Archer Aviation has never generated sales and is still undergoing regulatory approval with the Federal Aviation Association (FAA). Sure, the company will generate a lot of sales when its taxi network starts operating, but that has not happened yet. Its financial statements are fairly ugly as a result of being pre-revenue. Free cash flow was negative $415 million over the last 12 months and has only gotten worse since Archer Aviation went public two years ago. Cash burn will likely get worse as it builds out its inventory of eVTOL vehicles, which will take a lot of upfront capital to build. Even if the taxi network starts operating in a few cities, Archer Aviation will still be losing money. Even if it gets to 100 point-to-point networks generating $100 an hour in revenue 24/7 and 365 days a year, that equates to just $87.6 million in annual revenue, or well below its current expense base. This scenario will not occur for many years, either. ACHR Free Cash Flow data by YCharts So should you buy Archer Aviation stock? It is undeniable that Archer Aviation stock has crushed the market over the last few months. That doesn't mean it will do well for the rest of the year and into 2025, though. I believe Archer Aviation stock is a sell for investors after this recent run-up. For one, the stock trades at a market cap of $3.3 billion. This is for a company that generates zero dollars in annual sales. Second, as calculated above, Archer Aviation's taxi network revenue will not come close to clearing its expense level even if it has 100 routes operational. An eVTOL taxi network is not going to have high gross margins. There are electricity, pilot, and depreciation costs that will eat into the company's ability to generate a profit. At the end of last quarter, Archer Aviation had over $500 million in cash on the balance sheet and plans to get more than $400 million in new funding. At its current burn rate, this would be only around two years until the balance sheet runs dry. The company will almost definitively not be generating positive free cash flow in two years. In fact, given how much money Archer Aviation is spending before its network is even operational, I doubt this business will ever generate positive cash flow. For this reason alone, investors should strongly consider selling Archer Aviation stock. This does not seem to be a durable long-term stock market winner.
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Washington, Nov 22 (AP) Amazon is investing an additional USD 4 billion in the artificial intelligence startup Anthropic as major technology companies rush to fund generative AI. This will bring Amazon's total investment in Anthropic – which began last year - to USD 8 billion. Anthropic said the Seattle-based tech giant will maintain its position as a minority investor in the startup, which was founded by former leaders of the Microsoft-linked OpenAI. Under the deal, Amazon said the San Francisco-based Anthropic will now name Amazon's cloud computing unit, Amazon Web Services, as its “primary training partner”. It will also use two AWS chips to train and deploy its future foundational models, the advanced systems that underpin general-purpose AI services like ChatGPT and Google's Bard chatbot. “We've been impressed by Anthropic's pace of innovation and commitment to responsible development of generative AI, and look forward to deepening our collaboration,” Matt Garman, the AWS CEO, said in a statement included in Amazon's announcement. The relationship between Big Tech companies and AI startups has received scrutiny from regulators in the US and abroad. However, Amazon got some good news in September when Britain's competition watchdog said Anthropic's revenue and its combined market share with Amazon in Britain were not big enough to require an in-depth investigation under the country's merger rules. (AP) PY PY (This story has not been edited by THE WEEK and is auto-generated from PTI)JFK’s majestic Nov. 25 funeral, planned in detail by wife Jacqueline, provides no closure. American government has been fundamentally shaken. Oswald’s televised murder precludes a trial, and greatly encourages conspiracy theories. Fascination with and controversy about President Kennedy continues. In 2013, floods of books, articles and commentaries marking the half-century since his death. Kennedy’s legacy is complex, including publicized shortcomings. Eric Sevareid of CBS noted that the main legacy might be “an attitude,” a spirit that all things are possible for Americans. In fact, JFK had major achievements. They include arms control, the Peace Corps, space exploration. Nonetheless, Sevareid was perceptive in emphasizing the emotional dimensions of political leadership. The early disastrous invasion of Cuba at the Bay of Pigs undercut Kennedy, and provided Soviet Premier Nikita Khrushchev strong incentive to deploy nuclear missiles on the island. Intense, vastly expanded U.S. efforts to kill Fidel Castro further spurred Moscow. This led to the Cuban Missile Crisis of October 1962. President Kennedy, a World War II combat veteran, resisted powerful pressure to invade Cuba. The missiles were removed following a blockade and overt invasion preparations, combined with a secret Cuba-Turkey missile trade. Kennedy’s restraint and imagination are extremely impressive. Listen now and subscribe: Apple Podcasts | Spotify | Stitcher | RSS Feed | SoundStack | All Of Our Podcasts In the aftermath of the missile crisis, Kennedy and Khrushchev achieved a treaty banning nuclear tests in the atmosphere, a breakthrough. The Senate ratified the treaty with a bipartisan vote of 80-19. JFK had other successes with Congress, including negotiation authority key to the 1967 Kennedy Round trade agreement, and successor Tokyo and Uruguay accords. Two prominent domestic issues were civil rights and organized crime, the latter an obsession of driven Attorney General Robert F. Kennedy. JFK was cautious on race relations, addressing the subject actively only when pressed by the massive march on Washington. RFK was relentless in pursuit of the mafia, while simultaneously gangsters and mercenaries were recruited to kill Castro. Dallas ended both efforts. Regarding organized crime, six years passed before the Nixon administration re-energized prosecution. People around Robert Kennedy were puzzled by his marked disinterest in possible assassination conspiracy. In hindsight, RFK no doubt avoided that dark tangled path because he might come face to face with himself. Senator John Kennedy’s book “Profiles in Courage,” about U.S. senators who put principle above political expediency, received the Pulitzer Prize. While critics cracked President Kennedy should show less profile and more courage, he actually demonstrated considerable personal strength. Professor Herbert Parmet has documented extraordinary health problems that plagued JFK from birth. He nearly died in infancy, and received Catholic last rites at least three times. Yet he managed to enlist in the U.S. Navy, then volunteered for hazardous PT boat duty, where he demonstrated exceptional courage. Sevareid’s observation applies tangibly to the American space program. The commitment to a manned moon landing resulted in dramatic success. Associated technological innovations include electronics miniaturization. Today’s computers, cell phones and a range of other instruments reflect this. In the mid-1970s, revelations about JFK’s personal life, along with the anti-Castro plots, startled people. Understanding human complexity involves growing up, more achievable in a democracy. JFK’s commitment to public service and public progress remain vital goals, though overshadowed in today’s atmosphere.
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