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Some NFL fans see disparities in its responses to Harrison Butker and Colin Kaepernick

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Some NFL fans see disparities in its responses to Harrison Butker and Colin Kaepernick

Kansas City Chiefs kicker Harrison Butker, pictured at a December 2023 game, sparked conversation and controversy earlier this month with his commencement speech at Benedictine College in Kansas.

Noam Galai/Getty Images for The Gordon Parks Foundation and Jamie Squire/Getty Images


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Noam Galai/Getty Images for The Gordon Parks Foundation and Jamie Squire/Getty Images

Harrison Butker’s controversial commencement speech — and the reaction — continue to dominate conversation off the field, with key figures in the NFL weighing in publicly for the first time this week.

The Kansas City Chiefs kicker stirred up a culture war skirmish with his remarks at Benedictine College earlier this month, in which he denounced abortion rights, Pride Month, COVID-19 lockdowns, “dangerous gender ideologies” and “the tyranny of diversity, equity and inclusion,” while also encouraging female graduates to embrace the “vocation” of homemaker, all in 20 minutes.

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The speech, which has since racked up nearly 2 million views on YouTube, resonated with some football fans and conservative public figures, including Missouri Sen. Josh Hawley. Online sales of Butker’s jersey spiked, becoming the Chiefs’ best-seller.

But the speech has drawn widespread criticism from many corners of the internet, including some current and former students of the Catholic liberal arts college, an order of affiliated nuns, Kansas City officials and fans of Taylor Swift, whom Butker quoted in the speech as “my teammate’s girlfriend.”

The NFL distanced itself from Butker’s comments in a brief statement last week, saying he made them “in his personal capacity” and “his views are not those of the NFL as an organization.”

“The NFL is steadfast in our commitment to inclusion, which only makes our league stronger,” it added.

NFL Commissioner Roger Goodell echoed that idea while speaking to reporters on Wednesday.

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“We have over 3,000 players,” Goodell said, according to Yahoo Sports and the Associated Press. “We have executives around the league that have a diversity of opinions and thoughts just like America does. I think that’s something that we treasure, and that’s part of, I think, ultimately what makes us as a society better.”

But some social media users were quick to contrastGoodell’s comments with hisreaction to another high-profile controversy involving a football player exercising his right to self-expression: that of former San Francisco 49ers quarterback Colin Kaepernick.

When it comes to players’ self-expression, some see a double standard

 Kaepernick, who is biracial, began sitting on the bench during the playing of the national anthem in the 2016 preseason to protest what he called “the injustices that are happening in America.”

He continued to kneel during the anthem for the rest of the season, inspiring some other players but prompting criticism from many — including then-President Donald Trump — who accused him of being anti-American.

Goodell bemoaned Trump’s comments as showing “an unfortunate lack of respect” for players but had already made a similar critique of Kaepernick’s protest himself.

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“I think it’s important if they see things they want to change in society, and clearly we have things that can get better in society, and we should get better,” Goodell said in his first public comments on the protest in 2016. “But we have to choose respectful ways of doing that so that we can achieve the outcomes we ultimately want and do it with the values and ideals that make our country great.”

The following year, as the number of players kneeling — and the backlash to them — grew, Goodell told NFL teams in a memo that “everyone should stand” during the national anthem.

“The controversy over the Anthem is a barrier to having honest conversations and making real progress on the underlying issues,” he wrote. “We need to move past this controversy, and we want to do that together with our players.”

Kaepernick opted out of his contract with the 49ers in the spring of 2017 but wasn’t signed by any NFL team afterward, which led his supporters to accuse league owners of freezing him out because of his political beliefs. Kaepernick alleged the same in a grievance filed against the NFL later that year, which he withdrew after settling in 2019.

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He hasn’t played professionally since but has continued his career as a civil rights activist and author.

In June 2020, as protests against racial injustice and police brutality rocked the U.S., and after players called on the NFL to speak out, Goodell released a video statement condemning racism and acknowledging the league’s shortcomings in that area.

“We, the National Football League admit we were wrong for not listening to NFL players earlier and encourage all to speak out and peacefully protest,” he said, without naming Kaepernick.

Goodell doubled down in a series of remarks that summer, including encouraging an NFL team to sign Kaepernick as a free agent and publicly apologizing.

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“I wished we had listened earlier, Kaep, to what you were kneeling about and what you were trying to bring attention to,” he said.

On Wednesday, X (formerly Twitter) users and op-ed writers called Goodell’s comments hypocritical and wondered aloud what Kaepernick thinks of them. Some acknowledged that their situations differ, since Kaepernick protested in uniform during games while Butker made his speech off the field.

Kaepernick hasn’t commented publicly on Butker’s speech or Goodell’s response.

Last week, as controversy over Butker’s comments brewed, The View co-host Whoopi Goldberg said Butker and Kaepernick deserve equal respect for expressing their views.

“These are his beliefs and he’s welcome to them,” she said of Butker. “I don’t have to believe them, I don’t have to accept them, the ladies that were sitting in that audience don’t have to accept them.

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“The same way we want respect when Colin Kaepernick takes a knee, we want to give respect to people whose ideas are different from ours because the man who says he wants to be president … he says the way to act is to take away people’s right to say how they feel. We don’t want to be that, we don’t want to be those people.”

Some Chiefs leaders have also spoken up for Butker

More members of the Chiefs acknowledged the controversy on Wednesday, coming to Butker’s defense.

Star quarterback Patrick Mahomes told reporters, “There are certain things that he said that I don’t necessarily agree with but I understand … he’s trying to do whatever he can to lead people in the right direction.”

He added that he’s known Butker for seven years and considers him a good person.

“I judge him by the character that he shows every single day,” he said. “That’s someone who cares about the people around him, cares about his family and wants to make a good impact in society.”

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Chiefs Head Coach Andy Reid also addressed the response to the speech, though stayed away from its contents. He said he hadn’t talked to Butker about it because “I didn’t think we needed to.”

“We’re a microcosm of life,” he said of the team. “Everybody is from different areas, different religions, different races, and so, we all get along, we all respect each other’s opinions and not necessarily do we go by those, but we respect everybody to have a voice … My wish is that everybody could kind of follow that.”

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Tech reversal pushes US megacaps into correction territory

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Tech reversal pushes US megacaps into correction territory

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Four of the so-called Magnificent Seven technology stocks that have powered the US market rally for the past nine months ended the week in correction territory, having fallen by more than 10 per cent from recent peaks. 

Another two — Microsoft and Amazon — are close to the double-digit falls that define a correction. Investors are looking ahead to further tech earnings updates next week amid worries about punchy valuations and the risks that returns from vast artificial intelligence-related spending may not live up to early hopes.

Nvidia and Tesla are each down 17 per cent from their recent peaks while Meta and Google parent Alphabet have fallen 14 per cent and 12 per cent. Apple is the best performer in the group, having lost just 7 per cent while Microsoft and Amazon have slid about 9 per cent each.

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On Wednesday Alphabet sparked a wider market sell-off when, despite it reporting solid quarterly operating numbers, its shares fell more than 5 per cent on concerns about AI-related investments. Its $13bn quarterly capital expenditure was almost double the levels of a year ago.

“For a long time investors were really sold on the premise that AI investment in and of itself — spending money — is good,” said Max Gokhman, a senior vice-president at Franklin Templeton Investment Solutions. “What we’re seeing now is . . . investors saying, ‘Hold up a sec, what are the productivity gains here, when do you expect to see them?’”

Alphabet’s fall helped drag the tech-heavy Nasdaq Composite to its worst one-day decline in 18 months on Wednesday, down 3.6 per cent. The index ended the week down 2.1 per cent.

Microsoft, Meta, Apple and Amazon earnings next week may set up a fresh test of investor faith in the AI narrative that has been a crucial driver of market gains.

“Expectations are high and valuations for the Mag Seven aren’t cheap. We’re also closer to the point when we see some decelerations in earnings from them as a group — from the beneficiaries of AI in general,” said Josh Nelson, head of US equity at T Rowe Price. 

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Investors this week also showed they were prepared to punish companies that missed expectations, with Tesla losing 12 per cent on Wednesday after slowing sales and its own AI spending shrank profits more than expected. And Ford shares tumbled 18 per cent on Thursday when its profits fell short, hurt by unexpectedly high warranty costs.

On average, companies that missed expectations had seen their shares drop 3.3 per cent in the days surrounding their earnings, according to data from FactSet, more than the five-year average of 2.3 per cent.

Companies that beat expectations saw on average no gains in their share price, FactSet reported.

“The trend of misses getting punished more than beats get rewarded is getting a little bit more significant,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “There is uncertainty and skittishness with regard to just how fast the market, driven by those names ran, without the commensurate improvement in their forward earnings prospects.”

Sonders also pointed to the fact that the earnings season under way had coincided with a “rotation” among investors taking profits in the biggest tech names in favour of backing smaller companies that were more likely to see big benefits if the Federal Reserve begins to cut interest rates in September.

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This week, the Russell 2000 index of small-cap stocks added 3.5 per cent while the blue-chip S&P 500 fell 0.8 per cent.

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Boar's Head recalls 200,000 pounds of deli meat linked to a Listeria outbreak

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Boar's Head recalls 200,000 pounds of deli meat linked to a Listeria outbreak

An electron microscope image of a Listeria monocytogenes bacterium, which has been linked to an outbreak spread through deli meat. Boar’s Head recalled meat on Friday, after two deaths and 33 hospitalizations linked to Listeria.

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Boar’s Head is recalling more than 200,000 pounds of deli meat that could be contaminated with listeria, the Food Safety and Inspection Service announced Friday.

The recall includes all Liverwurst products, as well as a variety of other meats listed in the FSIS announcement. The CDC has identified 34 cases of Listeria from deli meat across 13 states, including two people who died as of Thursday. The statement also said there had been 33 hospitalizations.

The CDC warns that the number of infections is likely higher, since some people may not be tested. It can also take three to four weeks for a sick individual to be linked to an outbreak.

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Listeria is a foodborne bacterial illness, which affects about 1,600 people in the U.S. each year, including 260 deaths. While it can lead to serious complications for at-risk individuals, most recover with antibiotics. Its symptoms typically include fever, muscle aches and drowsiness,

The CDC says people who are pregnant, aged 65 or older, or have weakened immune systems are most at risk. It suggests that at-risk individuals heat any sliced deli meat to an internal temperature of 165°F.

The investigation from the CDC and FSIS is ongoing. This is not the first listeria outbreak of the summer, as more than 60 ice cream products were previously recalled during an outbreak in June.

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US charges short seller Andrew Left with fraud

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US charges short seller Andrew Left with fraud

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A federal grand jury in Los Angeles has charged prominent short seller Andrew Left with more than a dozen counts of fraud, alleging that he made profits of at least $16mn from “a long-running market manipulation scheme”, according to a statement from the Department of Justice.

The DoJ added: “Left knowingly exploited his ability to move stock prices by targeting stocks popular with retail investors and posting recommendations on social media to manipulate the market and make fast, easy money.”

The grand jury indictment charged him with 17 counts of securities fraud, one count of engaging in a securities fraud scheme and one count of making false statements to federal investigators.

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The indictment alleged that Left, who has a high profile on social media, publicly claimed that companies’ share prices were too high or low, often with a recommended target price and “an explicit or implicit representation about Citron’s trading position”. This, the DoJ said, “created the false pretence that Left’s economic incentives aligned with his public recommendation”.

Left prepared to quickly close positions after publishing his comments, taking profits on price moves he had caused, according to the indictment.

It also accused Left of presenting himself as independent and concealing Citron’s links with a hedge fund by fabricating invoices and wiring payments through a third party.

If convicted, Left could face decades in prison. Each securities fraud count carries a maximum penalty of 20 years in prison, while the securities fraud scheme and false statements counts each carry a maximum prison term of 25 years and five years, respectively.

The US Securities and Exchange Commission has also filed a separate civil fraud case against Left and his firm Citron Research, claiming the founder made $20mn from a “multi-year scheme to defraud followers.” Left declined to comment on the DoJ and SEC charges.

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“Andrew Left took advantage of his readers. He built their trust and induced them to trade on false pretences so that he could quickly reverse direction and profit from the price moves following his reports,” said Kate Zoladz, regional director of the SEC’s Los Angeles office. “We uncovered these alleged bait-and-switch tactics, which netted Left and his firm $20mn in ill-gotten profits, and we intend to hold Left and his firm accountable for their actions.”   

The practice of betting that a company’s share price will go down has long been controversial — opponents say it gives traders incentives to spread misinformation, while supporters argue that it improves price discovery and holds management accountable. Last year the SEC adopted new rules that require investors to disclose short positions more quickly and fully.

Left has been most vocal recently in his scepticism over GameStop, the ailing video games retailer. In May it raised $3bn selling new shares following a surge in its price driven by the reappearance of Roaring Kitty — whose real name is Keith Gill — who was instrumental in the 2021 meme stock mania that had sent its value rocketing.

Left told followers in mid-June that Citron had closed its short position on the stock not because he had changed his views but because of GameStop’s newly-strengthened balance sheet.

In 2016, Left received a five-year “cold shoulder” ban from regulators in Hong Kong — a landmark ruling for the city — temporarily barring him from its markets after he was found culpable of misconduct related to a research report he published on Chinese property developer China Evergrande.

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Additional reporting by Stefania Palma in Washington and Brooke Masters in New York

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