Who’s Still Sending Virtue Signals?
Kamala Harris and the evolution of San Francisco progressives.
Kamala Harris and the evolution of San Francisco progressives.
It seems that just about all San Francisco political leaders have lately acknowledged the need to rein in progressive policies—except perhaps the one running for President of the United States.
Compared to past elections, the mayor’s race in San Francisco this year has been striking for its focus on the need for law and order. Even many leftist politicos are sounding more moderate these days and offering fewer progressive virtue signals—perhaps because such signals don’t yield progress and lack virtue.
The San Francisco Standard’s David Sjostedt reports on the incumbent running for re-election:
How very Texan of Ms. Breed. Earlier this year she led a successful referendum campaign to cut off cash assistance to drug addicts who refuse to enter treatment programs. While she’s at it, perhaps she’ll consider turning off the subsidy spigot entirely for able-bodied adults.
Meanwhile across the Bay, there is a similar political hunger for a new approach to social problems. Rigel Robinson, a former member of the Berkeley City Council, opines in the Standard:
Back in San Francisco, another Breed departure from the kooky dogma of the extreme left is suddenly relevant to our national political discourse. Last December this column noted a Jose Martinez report for CBS News in San Francisco:
The office would have been a precursor to attempting to redistribute money from people who never owned slaves to people who were never enslaved. It isn’t just the principle of reparations plans that’s offensive , or the difficulty and destructiveness of government officials trying to precisely define the level of ancestral guilt or victimhood within the great American melting pot. It’s also the money.
In early 2023, after studying the work of San Francisco’s reparations committee, Lee Ohanian at Stanford’s Hoover Institution provided a ballpark estimate:
Pretty much everyone in San Francisco, even those who favor expansive social spending, recognized that this leap into the depths of progressive insanity wasn’t going to happen.
In February of this year, Aldo Toledo reported in the San Francisco Chronicle:
Opposing reparations plans—un-American efforts to punish or reward people based on their ancestry—is now a perfectly safe space for politicians on the left to show how reasonable they have become. If a massive reparations plan failed in San Francisco for goodness sake, politicians campaigning nationwide can be comfortable rejecting it, too.
But the Democratic presidential candidate from San Francisco still won’t do it. Curtis Bunn reports for NBC News:
Any gathering of journalists is likely to be deflated when a candidate refuses to stake out the leftwardmost position on an issue of public policy. But for the rest of America, it’s bound to be disturbing that Ms. Harris won’t repudiate an extreme position she held as a presidential candidate in the last election.
The logical conclusion is that she’s still just as radical as her record.
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The company is best known for its prestigious Penfolds brand
Australia’s Treasury Wine Estates admitted defeat in its effort to divest brands including Wolf Blass and Blossom Hill, moderating its annual earnings guidance amid weaker sales of its cheaper products.
Last year, Treasury outlined plans to offload its so-called commercial portfolio in a pivot toward costlier, higher-margin brands. As part of the move, it bought California’s Frank Family Vineyards in 2021 and Daou Vineyards in 2023 in deals worth US$1.31 billion combined.
On Thursday, Treasury told investors that it had failed to find a buyer for its budget brands.
“TWE has concluded that the offers received for these brands did not represent compelling value and therefore their retention is the best course of action,” Treasury said.
The company, which is best known for its prestigious Penfolds brand, said that demand for brands typically retailing for less than US$19 a bottle had fallen by 4.9% in the December-half. That includes the commercial portfolio, which comprises the company’s cheapest offerings.
As a result, Treasury expects so-called Ebits—earnings before interest, tax and other impacts including one-off items—for the full fiscal year of 780 million Australian dollars, or about US$489.8 million. That’s at the bottom end of its previously issued A$780 million-A$810 million guidance range.
Even so, Treasury on Thursday reported a A$220.9 million net profit for its fiscal first half, up 33% on year as the company continued to re-establish its Penfolds brand in China following that country’s removal of tariffs on Australian wine.
Revenue rose by 20% to A$1.57 billion, while profit increased 33% to A$239.6 million once material items and currency moves were stripped out.
The average analyst forecast had been for a net profit of A$242.1 million from revenue of A$1.57 billion, according to data compiled by Visible Alpha. Treasury reported first-half Ebits of A$391.4 million.
The board declared a dividend of 20 Australian cents a share, up from 17 cents a year earlier.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.