Business
Column: Trump's all-out assault on transgender rights isn't a sign of strength, but cowardice
It was easy to think that the diatribe about school transgender policies Donald Trump voiced during his presidential campaign was his most “deranged and despicable,” as I described it at the time.
Do you remember? At an event with Moms for Liberty, the far-right gang of book-banners, Trump said the following: “Think of it. Your kid goes to school and comes home a few days later with an operation. The school decides what’s gonna happen with your child. And you know, many of these childs [sic] 15 years later say, ‘What the hell happened? Who did this to me?’ They say, ‘Who did this to me?’”
None of this existed in the real world; one would have to be bereft of cognitive capacity to believe Trump’s picture of children being kidnapped, held for days so they can be operated on by their school, then to wake up 15 years later to discover their sex had been changed.
California families seeking gender affirming care, and the doctors and staff who provide it, are protected under state laws.
— California Atty. Gen. Rob Bonta
As we now know, however, Trump was only getting started. With the issuance of executive orders starting on his first day in office, Trump wiped out policies aimed at protecting transgender adults from discrimination, and moved to outlaw gender-affirming medical therapies for anyone under 19 — which includes 18-year-olds who are legally adults — by cutting off federal funding for healthcare institutions that provide such care.
Trump is no longer claiming that K-12 schools were subjecting children to involuntary operations, but once you’ve said that you’ve said everything. He banned transgender individuals from serving in the military and ordered the Federal Bureau of Prisons to move transgender inmates into the general populations consistent with their birth genders, which exposes them to physical assault. (Federal Judge Royce Lamberth of Washington, D.C., on Wednesday blocked the government from transferring three transgender women into the male prison population or terminating their hormone treatments.)
He declared that the federal government recognizes only “two sexes, male and female,” which are “not changeable and are grounded in fundamental and incontrovertible reality,” and has forbidden health plans serving federal employees to cover gender-affirming care for people under 19.
This all amounts to what legal commentator Mark Joseph Stern of Slate accurately labels “the biggest, broadest, most vicious assault on transgender existence we’ve ever seen,” a campaign of “unfathomable” scope.
Trump’s attacks on transgender individuals and their care were part of his drive to portray himself as a political strongman. But they’re just the opposite: They’re expressions of cowardice, because he well knows that his targets have little political power.
Who are the targets of these orders? They’re not a large group. About 1.6 million U.S. adults, or one-half of 1%, and 300,000 adolescents aged 13 to 17, or 1.4%, identify as transgender, according to a study by UCLA law school. A study by Harvard researchers found that fewer than 1% adolescents with private health insurance received either puberty blockers or hormone treatments.
“We are not seeing inappropriate use of this sort of care,” Landon Hughes, the study’s lead author, told the Associated Press. “And it’s certainly not happening at the rate at which people often think it is.”
Yet transgender care, especially for adolescents, has become an ideological litmus test for conservatives and Republican politicians. Restrictions on gender-affirming therapies for those under 18 have been enacted in 26 states; the rules imposed by Tennessee are under consideration by the U.S. Supreme Court, which heard oral arguments in the case Dec. 4.
These laws purport to be based on sound medical concerns. But that’s a smoke screen, since leading medical associations and physicians involved with pediatric and adolescent care support the therapies outlawed by the states as the legitimate standard of care for their patients.
One can always identify bullies by the targets they choose, and that’s the case here. As I wrote during Trump’s first term, when his anti-transgender policies were still in the gestational state, “There is no conceivable reason to support discrimination against transgender individuals other than to show one can target any community, as long as it doesn’t have a strong political voice or political power. These are the actions of bullies and cowards, pretending to be strong.”
Over recent years and decades, the roster of targets the right wing could exploit to keep its base unified has been shrinking.
Open racism became no longer socially acceptable (though it made a strong comeback in the first Trump era). The list of ethnic groups that could be stereotyped as undesirables had shrunk. It was no longer respectable to laugh at or denigrate the mentally ill, the homeless, the disabled.
Gays and lesbians had moved into the mainstream of culture and society. Even conservative and Republican families had come to accept gay and lesbian siblings, children and parents as deserving of their love.
Most importantly, gays and lesbians had acquired a political voice; gay-bashing would no longer work for a political candidate as it had in the past, except perhaps in the most benighted corners of American society.
So who’s left? Transgender individuals, who are still so scarce in our lives and culture, and still so relatively powerless, that politicians can demonize and demean them without much fear that they can strike back.
Trump’s executive orders explicitly reflect this mindset. He doesn’t accept that adolescents can experience gender dysphoria unless they’ve been subjected to “radical indoctrination” by schoolteachers. He says that gender-affirming treatments are imposed only on “impressionable children”—never mind that their parents have consulted with medical professionals and support their judgments.
He says transgender recruits “cannot satisfy the rigorous standards necessary for military service” and aren’t committed to “an honorable, truthful, and disciplined lifestyle.” He says transgender individuals make “the false claim that males can identify as and thus become women and vice versa, and [require] all institutions of society to regard this false claim as true.”
Trump’s attacks on transgender rights and medical care aren’t like the performative horseplay he engaged in over tariff policy and the global economy; in that case Wall Streeters acted as if they knew he wasn’t really serious, and the government leaders of Canada and Mexico foresaw that he would look for a way to declare victory and back down.
There’s nothing abstract about transgender policies, by contrast. They’re aimed directly at vulnerable individuals whose lives he has disrupted. That disruption began with Trump’s inauguration, and continues to that day, due in part to the capitulation of healthcare institutions to his fact-free and possibly illegal policymaking.
On Tuesday, Childrens Hospital Los Angeles said it was “pausing the initiation of hormonal therapies for all gender affirming care patients under the age of 19” while it evaluates Trump’s executive order on gender care “to fully understand its implications.” The hospital said it would continue care for patients who were already receiving it.
The hospital referred me to its formal statement, in which it asserted that “physical and mental health, safety, and well-being of all of our patients remains our highest priority.” That’s a pretty serving of boilerplate, but it’s obviously in conflict with its “pause,” since placing the well-being of all its patients conflicts with its decision to bow, even if temporarily, to Trump’s orders.
In any case, the hospital was crisply informed by California Atty. Gen. Rob Bonta that state law prohibits what appears to be its discriminatory treatment of transgender patients, since it provides cisgender patients with hormone treatments and other therapies named by Trump if they’re provided for transgender patients. Bonta also told the hospital by letter that a federal judge already has blocked Trump’s effort to freeze federal funds that don’t conform to his own priorities.
Federal agencies have no basis “to threaten or revoke your federal funding,” Bonta wrote, whatever Trump says. “California families seeking gender affirming care, and the doctors and staff who provide it, are protected under state laws.” CHLA didn’t answer my question about how it plans to respond to Bonta’s advisory.
Other institutions around the country have also capitulated to Trump’s grandstanding, affording him the opportunity for a victory lap. In a news release issued Monday, he bragged about all the healthcare providers that have canceled appointments for gender-affirming care for patients under 19 or paused, suspended or ended gender-affirming treatments.
How long can Trump’s campaign go on? Perhaps not very long. Two organizations that support gender-affirming care, five transgender minors and three transgender adults filed a federal lawsuit Tuesday specifically asking a federal judge in Maryland to declare Trump’s executive orders on gender unconstitutional and unlawful, and to block his cutoff of federal funds for providers of such care.
They may succeed in blocking Trump’s funding freeze, for a time, but that would be only a procedural victory. Trump and his acolytes have injected a poisonous, partisan and ideological view of transgender individuals and their medical needs that may infect American politics for a long time. The providers who bowed to Trump’s threats will deserve a good measure of blame for that.
Business
Polymarket Bets on Paris Temperature Prompt Investigation After Unusual Spikes
Early in April, Ruben Hallali got an unusual alert on his phone: The evening temperature at Paris Charles de Gaulle International Airport had jumped about 6 degrees Fahrenheit in seconds.
Mr. Hallali, the chief executive of the weather risk company Sereno, had set up notifications for extreme weather swings. Then, nine days later, it happened again.
“It was an isolated jump, at one single station, early in the evening,” said Mr. Hallali, who added that he noticed another strange coincidence about the spikes: The timing was just right for somebody to reap a windfall on the betting site Polymarket.
He wasn’t the only one who sensed a problem. Météo-France, the country’s national meteorological service, filed a complaint last week with the police and local prosecutors, saying it had evidence that a weather sensor at Charles de Gaulle, the country’s largest airport, may have been tampered with.
The temperature swings, experts said, coincided with a period of unusual activity on Polymarket, one of the leading online prediction markets, which allow users to wager on the outcome of virtually anything.
One increasingly popular area is weather betting, where speculators can make real-time wagers on temperature readings, rainfall totals, the number of Atlantic hurricanes in a year and much more — with payouts in the thousands of dollars and higher.
As the stakes rise, so has the temptation to tamper with the instruments used to generate weather readings in hopes of engineering a lucrative outcome. Experts warn that this could have dangerous ripple effects, like degrading the information that underpins safe air travel.
Temperature data is used in a host of calculations at airports, helping determine correct takeoff distance, climb rate and whether crews need to apply frost treatment to planes. It’s crucial to airport safety, Mr. Hallali said.
“The Charles de Gaulle incident is not an isolated curiosity,” Mr. Hallali said. “It is what happens when financial incentives meet fragile data infrastructure.”
On April 6, the temperature reading at Charles de Gaulle jumped from 64 degrees Fahrenheit to 70 degrees at 7 p.m., before slowly falling over the next hour, according to data from Météo-France.
On April 15, the recorded temperature climbed even more sharply, from 61 degrees at 9 p.m. to 72 at 9:30 p.m., then dropping back to 61 a half-hour later.
In both instances, the spikes set the high temperature for the day, the metric on which some Polymarket wagers rest.
Laurent Becler, a spokesman for Météo-France, said the service contacted the police after noticing the discrepancies in temperature data. He declined to comment further on the case, saying it was under investigation.
Mr. Hallali said that after the first instance, experts and commenters on the French weather forum Infoclimat began to search answers. Theories were floated, including user error. But after the second spike, commenters zeroed in on the unusual Polymarket wagers, which totaled nearly $1.4 million over the two days, according to the company’s data.
The sums bet on April 6 and 15 were hundreds of thousands of dollars higher than on typical days this month.
It is not the first time that strange bets on prediction markets have raised accusations of insider trading.
On Thursday, a U.S. Army special forces soldier who helped capture President Nicolás Maduro of Venezuela in January was charged with using classified information to bet on outcomes related to Venezuela, making more than $400,000 on Polymarket. Late last year, another trader on the site made roughly $300,000 betting on last-minute pardons from President Joseph R. Biden Jr. before he left office.
Polymarket did not immediately respond to a request for comment. While the site used to tie some bets to temperature readings at Charles de Gaulle, this week, after Météo-France filed its complaint, the platform began using temperatures taken at another airport near the city, Paris-Le Bourget, according to recent bets on the site.
Representatives for Charles de Gaulle airport declined to comment beyond saying that the case was under investigation. The airport police also declined to comment. The Bobigny Public Prosecutor’s Office, which is handling the case, declined to answer questions about the investigation but said that no complaint had been filed against Polymarket.
As to how the instruments could have been tampered with, a number of theories have been offered online, including by use of a hair dryer or a lighter. Mr. Hallali said that the precision of the spike on April 15 suggested the use of a calibrated portable heating device, although he declined to speculate about what kind.
“Markets are expanding into every domain where an outcome can be observed, measured, and settled,” he said. “As these markets multiply, so does the surface area for manipulation.”
Business
California’s jet fuel stockpile hits two-year low as war strangles oil supplies
As the war in Iran strangles the flow of oil around the globe, California’s jet fuel reservoirs are running low.
The state — which refines much of its own fuel in El Segundo and elsewhere but still relies on crude oil imports — has seen its jet fuel stock decline by more than 25% from last year’s peak to a level not seen since 2023, according to data from the California Energy Commission.
The supply is shrinking as a global shortage is already affecting travelers’ summer plans with canceled flights and higher fares. It could even affect plans for people coming to Los Angeles for the 2026 World Cup, which starts in June, said Mike Duignan, a hospitality expert and professor at Paris 1 Panthéon-Sorbonne University.
“People don’t know exactly how this is going to escalate,” he said. “There’s a huge black cloud over the sea for the World Cup and the travel slump that we’re seeing is all linked to this oil shortage.”
As fuel supplies shrink, flight prices are rising. Airlines are adding baggage surcharges to cover fuel costs. Several routes leaving from smaller California hubs, including Sacramento and Burbank, have already been canceled.
Air Canada has suspended flights for this summer, cutting routes from JFK to Toronto and Montreal.
“Jet fuel prices have doubled since the start of the Iran conflict, affecting some lower profitability routes and flights which now are no longer economically feasible,” the airline said in a statement last week.
Europe had just more than a month’s supply of jet fuel left last week, the International Energy Agency said. In an effort to cut costs, the German airline Lufthansa slashed 20,000 flights from its summer schedule this week.
Without a fresh oil supply flowing through the Strait of Hormuz, the situation is unlikely to improve, experts said. The oil reserves countries and companies have in storage are helping fill shortfalls, but the squeezed supply chain could still wreak economic havoc.
“When there’s a shortage somewhere, everything is affected,” said Alan Fyall, an associate dean of the University of Central Florida Rosen College of Hospitality Management. “Airlines are being cautious, and I would say that is a very wise strategy at the moment.”
California’s jet fuel stock reached its lowest levels in two and a half years at 2.6 million barrels last week, down from a peak of more than 3.5 million barrels last year.
The California Energy Commission, which tracks fuel inventory, said the state’s current jet fuel stock is sill sufficient.
“Current production and inventory levels of jet fuel are within historical ranges,” a spokesperson said. “Although supply is tight, no structural deficit has emerged yet. The present tightness reflects short‑term global market stress. As long as refinery operations remain stable, California is positioned to meet regional jet fuel needs.”
Europe has been affected more directly because it relies on the Middle East for the vast majority of its crude oil and many refined products, experts said. California gets crude oil from the Middle East but also from Canada, Argentina and Guyana.
The state has the capacity to refine around 200,000 barrels of jet fuel per day, most of it from refineries in El Segundo and Richmond.
The amount of crude oil originating in the state has been declining since the early 2000s, as state regulations and drilling costs have led to more imports.
California has become particularly vulnerable to supply-chain shocks like the war in Iran, says Chevron, one of the companies that provides jet fuel in the state.
“The conflict in the Mideast Gulf has exposed the danger of California’s decision to offshore energy production,” said Ross Allen, a Chevron spokesperson. “Taxes, red tape and burdensome regulations cost the state nearly 18% of its refinery capacity in just the past year, and we urge policymakers to protect the remaining manufacturing capacity.”
In 2025, 61% of crude oil supply to California’s refineries came from foreign sources, according to the California Energy Commission. Around 23% came from inside the state, down from 35% five years ago.
The state’s refining capacity has also been declining, said Jesus David, senior vice president of Energy at IIR Energy. The West Coast region’s refining capacity has decreased from 2.9 million to 2.3 million barrels a day since 2019, he said.
“California’s had issues prior to the war,” David said. “Nothing new has been built over the past 30 years, and California has closed a lot of capacity.”
The result is higher prices for both gasoline and jet fuel in the state. Jet fuel at LAX costs close to $15 per gallon this week, compared with almost $10 at Denver International Airport and $11 at Newark International Airport.
Gasoline prices have also been hit hard by the global conflict. Average gas prices in California are close to $6 a gallon, around $2 higher than the national average.
The West Coast is a “fuel island” because it’s not connected by pipelines to the rest of the country, United Airlines chief executive Scott Kirby said in an interview last month. That means oil and refined products have to be brought in by ships.
“Fuel price is more susceptible to supply weakness on the West Coast than anywhere else in the country,” Kirby said.
Some airlines might not survive the turmoil if oil prices don’t level out soon, he said. Spirit Airlines, a budget carrier based in Florida, is reportedly facing imminent liquidation if it isn’t bailed out by the Trump administration.
Business
Nike to Cut 1,400 Jobs as Part of Its Turnaround Plan
Nike is cutting about 1,400 jobs in its operations division, mostly from its technology department, the company said Thursday.
In a note to employees, Venkatesh Alagirisamy, the chief operating officer of Nike, said that management was nearly done reorganizing the business for its turnaround plan, and that the goal was to operate with “more speed, simplicity and precision.”
“This is not a new direction,” Mr. Alagirisamy told employees. “It is the next phase of the work already underway.”
Nike, the world’s largest sportswear company, is trying to recover after missteps led to a prolonged sales slump, in which the brand leaned into lifestyle products and away from performance shoes and apparel. Elliott Hill, the chief executive, has worked to realign the company around sports and speed up product development to create more breakthrough innovations.
In March, Nike told investors that it expected sales to fall this year, with growth in North America offset by poor performance in Asia, where the brand is struggling to rejuvenate sales in China. Executives said at the time that more volatility brought on by the war in the Middle East and rising oil prices might continue to affect its business.
The reorganization has involved cuts across many parts of the organization, including at its headquarters in Beaverton, Ore. Nike slashed some corporate staff last year and eliminated nearly 800 jobs at distribution centers in January.
“You never want to have to go through any sort of layoffs, but to re-center the company, we’re doing some of that,” Mr. Hill said in an interview earlier this year.
Mr. Alagirisamy told employees that Nike was reshaping its technology team and centering employees at its headquarters and a tech center in Bengaluru, India. The layoffs will affect workers across North America, Europe and Asia.
The cuts will also affect staffing in Nike’s factories for Air, the company’s proprietary cushioning system. Employees who work on the supply chain for raw materials will also experience changes as staff is integrated into footwear and apparel teams.
Nike’s Converse brand, which has struggled for years to revive sales, will move some of its engineering resources closer to the factories they support, the company said.
Mr. Alagirisamy said the moves were necessary to optimize Nike’s supply chain, deploy technology faster and bolster relationships with suppliers.
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