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TradeBriefs Editorial

From the Editor's Desk

The Founders Dilemma

Why do people start businesses? For the money and the chance to control their own companies, certainly. But new research from Harvard Business School professor Wasserman shows that those goals are largely incompatible.

The author’s studies indicate that a founder who gives up more equity to attract cofounders, new hires, and investors builds a more valuable company than one who parts with less equity. More often than not, however, those superior returns come from replacing the founder with a professional CEO more experienced with the needs of a growing company. This fundamental tension requires founders to make “rich” versus “king” trade-offs to maximize either their wealth or their control over the company.

Continued here


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AOC joins calls for Bob Menendez to resign from Senate over corruption charges
AOC joins calls for Bob Menendez to resign from Senate over corruption charges
“As a result, I feel compelled to run against him. This is not something I expected to do, but I believe New Jersey deserves better. We cannot jeopardize the Senate or compromise our country’s integrity.

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US will establish diplomatic ties with the Cook Islands and Niue as Biden hosts Pacific leaders
US will establish diplomatic ties with the Cook Islands and Niue as Biden hosts Pacific leaders
Biden earlier this year had to cut short a planned visit to the Indo-Pacific, scrapping what was to be a historic stop in Papua New Guinea, as well as a visit to Australia for a gathering with fellow leaders of the so-called Quad partnership so he could focus on debt limit talks in Washington. He would have been the first sitting U.S. president to visit Papua new Guinea.

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Tigst Assefa shatters the women's marathon world record by more than 2 minutes in Berlin
Tigst Assefa shatters the women's marathon world record by more than 2 minutes in Berlin
The German environmental group Last Generation had signaled it intended to disrupt the Berlin Marathon. Police and security personnel led away a group of Last Generation activists who entered the course from either side of the road and attempted to block the route shortly before the start of the race. Marathon runners passed streaks of bright orange paint that were splashed across the road during the protest.

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Toddler and 2 adults fatally shot in Florida during argument over dog sale, authorities say
Toddler and 2 adults fatally shot in Florida during argument over dog sale, authorities say
Jacksonville Sheriff\'s Office Assistant Chief J.D. Stronko told reporters that five people, including the child, had gone to a luxury apartment complex at about 10 p.m. Saturday to meet with some people about the sale of a dog.

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He spoke no English, had no lawyer. An Afghan man's case offers a glimpse into US immigration court
He spoke no English, had no lawyer. An Afghan man's case offers a glimpse into US immigration court
“I have no doubt that his case would have turned out differently had he been represented,” Iman said. “This is exactly the type of vulnerable individual that the U.S. government has promised, has committed to protect, since it withdrew from the country.”

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Archaeologists unearth rare lead sarcophagi in 2,000-year-old Roman-era cemetery in Gaza
Archaeologists unearth rare lead sarcophagi in 2,000-year-old Roman-era cemetery in Gaza
“The Gazans deserve to tell their stories,” he said. “Gaza boasts a plethora of potential archaeological sites, but monitoring each one, given the rapid pace of development, is no small feat.\"

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Weakening Ophelia still poses a risk of coastal flooding and heavy rain in some parts of the US
Weakening Ophelia still poses a risk of coastal flooding and heavy rain in some parts of the US
Ungar reported from Louisville, Kentucky. Mattise reported from Nashville, Tennessee. AP Radio reporter Jackie Quinn in Washington and AP writers Brian Witte in Annapolis, Maryland, Ron Todt in Philadelphia, Sudhin Thanawala in Atlanta and Christopher Weber in Los Angeles contributed to this report.

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NASA's first asteroid samples land on Earth after release from spacecraft
NASA's first asteroid samples land on Earth after release from spacecraft
NASA’s plans to return samples from Mars are on hold after an independent review board criticized the cost and complexity. The Martian rover Perseverance has spent the past two years collecting core samples for eventual transport to Earth.

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Taylor Swift enjoys Chiefs game from Arrowhead suite with Travis Kelce's mom
Taylor Swift enjoys Chiefs game from Arrowhead suite with Travis Kelce's mom
As the NFL season inched closer, Travis Kelce and his brother Jason spoke about the relationship on their podcast. The Philadelphia Eagles\' center later said he thought that the romance rumors were \"100% true,\" though the younger Kelce failed to confirm anything this week.

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Congress remains divided on budget negotiations as government shutdown looms: “Our financial ship is sinking”
Congress remains divided on budget negotiations as government shutdown looms: “Our financial ship is sinking”
CORRECTION: This story has been updated to show that a continuing resolution, or CR, would provide a temporary budget until the government negotiates a more permanent deal for the rest of the fiscal year.

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Inside impeachment deliberations with two North Texas Senators
Inside impeachment deliberations with two North Texas Senators
Patrick defended accepting the $3 million, arguing he also took some money from groups and people who wanted Paxton removed. The Lt. Governor earlier criticized the House for their quiet investigation and only spending a few days on the issue before a public floor vote. Patrick wants to change the constitution to require under-oath testimony and more time between the allegations are uncovered and a House vote on impeachment.

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Pandemic aid officials who overpaid vulnerable renters are saying, ‘We messed up, pay us back'
Pandemic aid officials who overpaid vulnerable renters are saying, ‘We messed up, pay us back'
Lenette Lopez, a single mother of two in Bear, Delaware, leaned on the state’s federally backed emergency housing assistance to cover rent after closing her hair salon under lockdown orders in 2020. But in late May, her landlord got a letter asking for over $10,000 back within 30 days, saying Lopez had received payments beyond the 18 months allowed under the program.

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Family of Black student suspended for his hairstyle is suing Texas officials
Family of Black student suspended for his hairstyle is suing Texas officials
Barbers Hill officials told cousins De’Andre Arnold and Kaden Bradford they had to cut their dreadlocks in 2020. The two students’ families sued the school district in May 2020, and a federal judge later ruled the district’s hair policy was discriminatory. Their case, which garnered national attention and remains pending, helped spur Texas lawmakers to approve the state’s CROWN Act law. Both students withdrew from the school, with Bradford returning after the judge’s ruling.

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Pandemic aid officials who overpaid vulnerable renters are saying, ‘We messed up, pay us back'
Pandemic aid officials who overpaid vulnerable renters are saying, ‘We messed up, pay us back'
Lenette Lopez, a single mother of two in Bear, Delaware, leaned on the state’s federally backed emergency housing assistance to cover rent after closing her hair salon under lockdown orders in 2020. But in late May, her landlord got a letter asking for over $10,000 back within 30 days, saying Lopez had received payments beyond the 18 months allowed under the program.

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In the dark: At one Scripps Ranch park, the wait for streetlight repairs is now two years and growing
In the dark: At one Scripps Ranch park, the wait for streetlight repairs is now two years and growing
If signed by Newsom, the bill would also make public internal sheriff’s reports on deaths in custody. A companion bill from La Mesa Assemblymember Akilah Weber not yet through the legislature

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New court for those with serious mental illnesses is launching soon. Here's what to know
New court for those with serious mental illnesses is launching soon. Here's what to know
No one can say for sure, but the program’s impact is likely to be negligible. Across the state, between 5,000 and 12,000 people are expected to qualify for CARE Court, while the number of Californians experiencing homelessness is estimated to be about 171,000.

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Forced mental health care saved one man's life. Another felt traumatized. This is the complexity of treatment.
Forced mental health care saved one man's life. Another felt traumatized. This is the complexity of treatment.
“Don’t go knocking on someone’s door assuming you understand their personal history, psychology, the words they choose to use,” he said. “It was one of the most violating experiences of my entire life.”

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3-year-old boy thrown from SUV, seriously injured in DUI crash in Mission Valley
3-year-old boy thrown from SUV, seriously injured in DUI crash in Mission Valley
The boy ejected from the SUV suffered major injuries. Four other children in the vehicle suffered “various injuries,” Castro said. They were all taken to Rady Children’s Hospital for treatment. The ages of the other children were not released.

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Homelessness is still increasing. Older adults who can't make rent is one reason why.
Homelessness is still increasing. Older adults who can't make rent is one reason why.
Operation HOPE-North County, a nonprofit homeless shelter for families with children and single women, expanded its food bank and boutique and received a Gold Star Certification from Leah’s Pantry

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Taylor Swift enjoys Chiefs game from Arrowhead suite with Travis Kelce's mom
Taylor Swift enjoys Chiefs game from Arrowhead suite with Travis Kelce's mom
As the NFL season inched closer, Travis Kelce and his brother Jason spoke about the relationship on their podcast. The Philadelphia Eagles\' center later said he thought that the romance rumors were \"100% true,\" though the younger Kelce failed to confirm anything this week.

Work
Pandemic aid officials who overpaid vulnerable renters are saying, ‘We messed up, pay us back'
Pandemic aid officials who overpaid vulnerable renters are saying, ‘We messed up, pay us back'
Lenette Lopez, a single mother of two in Bear, Delaware, leaned on the state’s federally backed emergency housing assistance to cover rent after closing her hair salon under lockdown orders in 2020. But in late May, her landlord got a letter asking for over $10,000 back within 30 days, saying Lopez had received payments beyond the 18 months allowed under the program.

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California Gov. Gavin Newsom signs bills to enhance the state's protections for LGBTQ community
California Gov. Gavin Newsom signs bills to enhance the state's protections for LGBTQ community
The veto comes amid intense political battles across the country over transgender rights, including efforts to impose bans on gender-affirming care, bar trans athletes from girls and women’s sports, and require schools to notify parents if their children ask to use different pronouns or changes their gender identity.

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Financier and philanthropist Robert Addison Day, who headed Keck Foundation, dies at 79
Financier and philanthropist Robert Addison Day, who headed Keck Foundation, dies at 79
Los Angeles Times senior writer Doug Smith scouts Los Angeles for the ragged edges where public policy meets real people, combining data analysis and gumshoe reporting to tell L.A. stories through his 50 years of experience covering the city.

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Tax filing deadline for Californians affected by last winter's storms fast approaching
Tax filing deadline for Californians affected by last winter's storms fast approaching
Here is the full list of counties where the Oct. 16 deadline applies: Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Inyo, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Trinity, Tulare, Tuolumne, Ventura, Yolo and Yuba.

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Smoke advisory issued through weekend in L.A. area from Northern California wildfires
Smoke advisory issued through weekend in L.A. area from Northern California wildfires
Priscella Vega is a reporter for the Los Angeles Times, covering the Inland Empire. She previously reported on the 2022 congressional election, the drought’s impact in San Joaquin Valley and breaking news. Before joining The Times, she worked for the Daily Pilot, the Daily Breeze and the Long Beach Press-Telegram. She earned her journalism degree from Cal State Long Beach and is a native Spanish speaker.

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Newsom signs law requiring gender-neutral bathrooms in schools amid LGBTQ+ student debate
Newsom signs law requiring gender-neutral bathrooms in schools amid LGBTQ+ student debate
Mackenzie Mays covers state government and politics in the Los Angeles Times’ Sacramento bureau. Previously, she worked as an investigative reporter for Politico, the Fresno Bee and the Charleston Gazette-Mail. In 2019, she received the National Press Club Press Freedom Award for her political watchdog reporting. She is a graduate of West Virginia University and proud Appalachian.

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Five people taken to hospital for drug overdoses in Long Beach
Five people taken to hospital for drug overdoses in Long Beach
Officers responded at 2:52 a.m. Sunday to the 800 block of Grand Avenue and found four men and one woman in need of medical treatment, said Jennifer Serafin, spokesperson for the Long Beach Police Department.

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Long Beach aims to lower traffic fatalities by reducing speed limits throughout the city
Long Beach aims to lower traffic fatalities by reducing speed limits throughout the city
Priscella Vega is a reporter for the Los Angeles Times, covering the Inland Empire. She previously reported on the 2022 congressional election, the drought’s impact in San Joaquin Valley and breaking news. Before joining The Times, she worked for the Daily Pilot, the Daily Breeze and the Long Beach Press-Telegram. She earned her journalism degree from Cal State Long Beach and is a native Spanish speaker.

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Ryan didn't win, but didn't lose either. What now for the champ?
Ryan didn't win, but didn't lose either. What now for the champ?
No matter the matchups, the top of the welterweight division is starting to look like perhaps the deepest -- and most competitive -- in the women\'s divisions of boxing. Hopefully, Ryan and McCaskill indeed do a rematch next. Ryan deserves as much.

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Spurs' Maddison, Son form dangerous duo in post-Harry Kane era
Spurs' Maddison, Son form dangerous duo in post-Harry Kane era
Postecoglou\'s approach made this the frantic fare it proved. It felt somewhat premature of chairman Daniel Levy to declare earlier this week that \"We\'ve got our Tottenham back,\" but the mark Postecoglou is making on this Spurs side is hugely encouraging.

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From Ciganda's heroics to Thompson's comeback: Top moments of the 2023 Solheim Cup
From Ciganda's heroics to Thompson's comeback: Top moments of the 2023 Solheim Cup
Thompson\'s lone loss this week came in Friday\'s four-ball (best ball) when she and Vu fell to Maguire and England\'s Georgia Hall 1 down. Thompson was the last American on the course in Sunday singles and defeated Pedersen 2 and 1. Thompson earned three points with a 3-0-1 record.

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College Football Playoff picks after Week 4
College Football Playoff picks after Week 4
Andrea Adelson: 1. Georgia 2. Florida State 3. Michigan 4. WashingtonBlake Baumgartner: 1. Georgia 2. Florida State 3. Michigan 4. USCKyle Bonagura: 1. Georgia 2. Washington 3. Michigan 4 TexasBill Connelly: 1. Washington 2. Ohio State 3. Georgia 4. TexasHeather Dinich: 1. Florida State 2. Georgia 3. Ohio State 4. TexasDavid Hale: 1. Georgia 2. Florida State 3. Ohio State 4. TexasChris Low: 1. Florida State 2. Georgia 3. Texas, 4. Ohio StateHarry Lyles Jr.: 1. Georgia 2. Washington 3. Ohio State 4. Florida StateRyan McGee: 1. Georgia 2. Ohio State 3. Washington 4. Florida StateAdam Rittenberg: 1. Georgia 2. Florida State 3. Michigan 4. TexasAlex Scarborough: 1. Georgia 2. Michigan 3. Florida State 4. TexasTom VanHaaren: 1. Georgia 2. Michigan 3. Florida State 4. USCPaolo Uggetti: 1. Georgia 2. Washington 3. Florida State 4. Ohio StateDave Wilson: 1. Georgia 2. Florida State 3. Ohio State 4. Texas

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Big questions, risers from NFL Week 3: Dolphins' elite offense, Bills' dominant win and big issues for Jets
Big questions, risers from NFL Week 3: Dolphins' elite offense, Bills' dominant win and big issues for Jets
Stock down after the loss: OC Mike Kafka/coach Brian Daboll. The Giants have to find a way to get the ball into rookie wide receiver Jalin Hyatt\'s hands. There is no way in a game like that he should be on the field to run just 13 routes and not get a touch. Hyatt was the key to the Giants\' victory the prior week in Arizona. -- Jordan Raanan

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Sources: Bears DC left over inappropriate activity
Sources: Bears DC left over inappropriate activity
Bears coach Matt Eberflus will continue to call defensive plays in place of Williams, who missed last Sunday\'s game against the Tampa Bay Buccaneers because of an undisclosed personal reason.

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Stocks Poised to Open Higher
Stocks Poised to Open Higher
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

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Five Key Charts to Watch in Global Commodity Markets This Week
Five Key Charts to Watch in Global Commodity Markets This Week
Despite so much uncertainty revolving around oil markets and the transition to cleaner sources of energy, one thing is clear: Efforts to decarbonize the transportation sector are set to boost demand for metals that are key to electric-vehicle batteries. Lithium, nickel, cobalt, manganese and graphite are crucial to battery performance and energy density, while copper is at the heart of all electricity components. The IEA will host its first-ever summit on critical minerals and their role in the clean-energy transition on Thursday in Paris. Ministers from countries around the world — including both large mineral producers and consumers — as well as business leaders and investors will gather to discuss diversifying supply chains, processes to enhance market transparency and promoting sustainable and responsible development practices.

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Retired & on a Budget? Here's How to Still Afford a Good, Full Life
Retired & on a Budget? Here's How to Still Afford a Good, Full Life
Figure out what matters most to you in retirement. Eliminate those things that may be wasting your time or adding to your depression. And surround yourself with people who motivate you to enjoy your later years.

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Labor strikes, inflation and Nike earnings: What to know this week
Labor strikes, inflation and Nike earnings: What to know this week
Economic data: Wholesale inventories month-over-month, August (-0.2% expected, -0.2% previously); Retail inventories month-over-month, August (+0.5% expected, +0.3% previously) Personal income, month-over-month, August (+0.4% expected, +0.2% previously); Personal spending, month-over-month, August (+0.4% expected, +0.8% previously); PCE inflation, month-over-month, August (+0.5% expected,+ 0.2% previously); PCE inflation, year-over-year, August (+3.4% expected, +3.2% previously); \"Core\" PCE, month-over-month, August (+0.2% expected, +0.2% previously); \"Core\" PCE, year-over-year, August (+3.9% expected; +4.2% previously); University of Michigan consumer sentiment, August, final reading (67.7 expected, 67.7 previously)

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Ask an Advisor: I Have $30,000 to Invest. Will a Financial Advisor Work With Me?
Ask an Advisor: I Have $30,000 to Invest. Will a Financial Advisor Work With Me?
Susannah Snider, CFP® is SmartAsset’s financial planning columnist, and answers reader questions on personal finance topics. Got a question you’d like answered? Email [email protected] and your question may be answered in a future column.

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America's $1 trillion credit card bill really isn't as bad as it seems
America's $1 trillion credit card bill really isn't as bad as it seems
Government debt is a different story. The US debt balance just notched $33 trillion for the first time ever, something economists have warned could blow up into a bigger problem in the future.

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Workers with Canadian union Unifor vote in favor of Ford contract
Workers with Canadian union Unifor vote in favor of Ford contract
Unlike the UAW, Unifor chose one of the Detroit Three as a \"target\" to negotiate with first - in this case, Ford - in a pattern bargaining tactic used to set the tone for subsequent deals with other companies.

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Costco, Nike, and More Stocks to Watch
Costco, Nike, and More Stocks to Watch
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

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Retired & Feeling Pinched By Smaller Social Security Payments? You're Not Alone
Retired & Feeling Pinched By Smaller Social Security Payments? You're Not Alone
Taxes can take a big chunk out of your retirement income, depending on where you live. To find out if you should relocate after you hang up your hat, check our story on the best states to retire for taxes.

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Corzine Plans to Shut Hedge Fund and Return Capital to Investors
Corzine Plans to Shut Hedge Fund and Return Capital to Investors
In July, three futures industry executives asked the Commodity Futures Trading Commission to review an exemption that allowed Corzine to continue trading a small amount of futures under a settlement with the agency. The executives claim that Corzine is no longer eligible for the exemption because of a 2020 rule change.

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Stocks Flash Recession Warning as Trouble Spreads to Industrials
Stocks Flash Recession Warning as Trouble Spreads to Industrials
“The valuations of the industrials and materials we buy are well below where they should be trading,” Cianci said. “The market is pricing in the risk of a downturn that we do not see.”

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Retirement investors are finally getting good returns from the 'safest assets in the world'
Retirement investors are finally getting good returns from the 'safest assets in the world'
\"In the long run, you are only going to miss out on the upside, like what we have seen in equities this year,\" Tsantes said. \"If retirement is around the bend, sure we can allocate to more fixed-income investments, but there is really no need to keep more than two to five years of expenses set aside in those investments.\"

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Ask an Advisor: Is it Wise to Convert 10% of My 401(k) into a Roth IRA Each Year to Avoid Taxes and RMDs?
Ask an Advisor: Is it Wise to Convert 10% of My 401(k) into a Roth IRA Each Year to Avoid Taxes and RMDs?
Matt Becker, CFP®, is a SmartAsset financial planning columnist and answers reader questions on personal finance and tax topics. Got a question you\'d like answered? Email [email protected] and your question may be answered in a future column.

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How Much Can a Retired Person Earn Without Paying Taxes?
How Much Can a Retired Person Earn Without Paying Taxes?
Consider working with a financial advisor as you coordinate your earnings with your tax planning. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

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Minnesota's cannabis head resigns after reports she sold illegal weed products
Minnesota's cannabis head resigns after reports she sold illegal weed products
The midwestern state is the 23rd in the country to legalize recreational marijuana. Surrounding states - including Wisconsin, Iowa, South Dakota and North Dakota - have not yet legalized it.

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'Like a dream': successful return of Nasa capsule with asteroid sample hailed
'Like a dream': successful return of Nasa capsule with asteroid sample hailed
"I couldn't be more proud … Not only did we bring this mission in on schedule, under budget and delivered more science than we had ever thought was possible with the encounter with Bennu, but we think we've got a lot of sample in that canister."

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Poll showing Trump up 10 points over Biden for 2024 election criticized
Poll showing Trump up 10 points over Biden for 2024 election criticized
Trump does hold commanding leads in national and key state polls regarding the race for the 2024 Republican presidential nomination. He enjoys that advantage despite facing more than 90 criminal charges across four separate indictments charging him with attempted subversion of the 2020 election that he lost to Biden, retention of classified information after his presidency and hush-money payments to adult film star Stormy Daniels.

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'A treasure for scientific analysis': Nasa holds Bennu asteroid sample press conference - as it happened
'A treasure for scientific analysis': Nasa holds Bennu asteroid sample press conference - as it happened
This significant moment marks the successful delivery from the Utah desert into the Utah test and training range clean room, and of course the 1.2 billion mile journey from the asteroid Bennu back to Earth.



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