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LARRY KUDLOW: A Bad Deal Today Would Mean a Bigger War Tomorrow

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LARRY KUDLOW: Trump Was Right About Tariffs

As a strong supporter of our great military’s Operation Epic Fury, and someone who has great faith in President Trump and his judgement, I do feel obliged to weigh in on the fact that any deal cobbled together too quickly runs the risk of making the next Iranian conflict more likely, not less. I’m worried that a poor deal today could mean a bigger war tomorrow. When I sat down with Mr. Trump for our interview eight weeks ago, I raised the concern that no one can ever believe anything Iran says.

As a former Reagan guy, I am always acutely sensitive to the Gipper’s phrase “trust but verify.” Over the past five decades, numerous American presidents have made deals with Iran that were never verified. International nuclear authorities have never been able to verify Iranian promises or activities. And, as Mr. Trump has said, the whole issue was boiled over with Iran’s shocking imminent nuclear threat with enriched uranium that is greater than anyone thought. And with intercontinental ballistic missile capability with a range that is longer than anyone thought. And once again, Iran is bottling up the Strait of Hormuz in an attempt for worldwide economic blackmail.

There’s so much that we don’t know yet regarding discussions that are mostly indirect. And even now it seems that Iran has cut off any communications with America. Yet just looking at the positions of the two sides, Iran wants an end to conflicts in the region, a protocol for safe passage through the Hormuz Strait, reparations and reconstruction, and lifting sanctions. That’s their position.

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Mr. Trump’s key points have been a complete end to all nuclear capabilities and facilities. No uranium enrichment on Iranian soil. Handing over Iran’s stockpile of enriched uranium to the international atomic energy agency, completely decommissioning and dismantling of their nuclear sites at Fordow, Isfahan, and Natanz sites. Plus a complete end to their state sponsorship of terrorism. And an end to supporting proxy terrorist groups. A dismantling of their ballistic missile programs. And reopening the Strait of Hormuz. In other words, the two sides remain monumentally far apart, as far as we know.

So, a deal looks to be impossible. A few quotes from Mr. Trump suggest that there is no deal. When reporter asked “if Iran does not meet your demands, Mr. President, are you willing to continue the war?” Mr. Trump replied: “We’ll you’ll have to watch.” The reporter followed up: “Are you committing …” Mr. Trump then responded: “The answer is yes, but you have to watch.” He added that “the entire country can be taken out in one night, and that night might be tomorrow night.” He said “we have, we have a plan, because of the power of our military, where every bridge in Iran will be decimated by 12:00 tomorrow night, where every power plant in Iran will be out of business, burning, exploding, and never to be used again. I mean, complete demolition by 12:00.”

Meanwhile, any talk of ceasefires or deal extensions should be rejected. This is Iran’s game. They have been playing it for decades. They love to string things along. They are experts at playing their adversaries. They love to stall. To postpone. To argue over location. Or who is invited to the high table. They’ve been doing this for so long, and I hope that Mr. Trump doesn’t let them get away with it. I doubt that he will, because he’s a man of action and instinct. He knows that letting Iran play these games with him, he will lose international respect. He knows that if he ever walked away without reopening Hormuz, it would make him look weak. And he is never weak. Ever. He is transparently a man of his word.

In all likelihood, a few ticks of the clock after 8 P.M. Eastern time will be met by the final war push by America and presumably Israel. Mr. Trump knows that at this moment, he can change history. He can end all of Iran’s capabilities: nuclear, terrorist, missiles, Hormuz, all of it. He can bring freedom and prosperity to the Middle East and the rest of the world. He can end a scourge of civilization. He can also become one of the greatest presidents in American history.

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Building Success One Job at a Time

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The UK government is seeking an exemption from Donald Trump’s proposed 25% tariffs on steel exports, arguing Britain’s small export share and defence links justify special treatment. Industry fears price rises and market disruption.

Success doesn’t always start with a big break. For Joel Ney, it started with showing up, learning fast, and doing the work.

Joel grew up in Pine Grove, Pennsylvania. As a kid, he stayed active with sports and spent a lot of time with family and friends. Those early years shaped how he approaches life today—focused, steady, and grounded.

“Success to me is having the people around me trust that I can get the job done and being able to provide for my family,” Joel says.

That mindset would later define his career.

From School to Skilled Trades

Joel followed a practical path after high school. He graduated from Pine Grove High School and continued his education at Thaddeus Stevens College of Technology and Mansfield University.

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He didn’t chase shortcuts. Instead, he focused on building real skills.

That decision led him into construction, where he started working with PKF III Construction. Like many in the trades, he began at the bottom.

“One of the biggest obstacles I have faced is starting as the new guy and having to work my way up with little experience,” he says.

It wasn’t easy. But it was clear what needed to be done.

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“I overcame this by working hard and learning from anyone I possibly could.”

Learning the Craft and Growing in Welding

Joel didn’t stay in one lane. He expanded his skills and moved into welding, working with Great Coasters International.

This shift shows a pattern in his career. He looks for ways to grow, then puts in the effort to make it happen.

“A hard-working attitude and the willingness to learn and grow within your career,” he says, are key to long-term success.

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In industries like construction and welding, progress often comes from doing. Joel embraced that. Each job became a chance to improve.

He focused on mastering the basics. Then he built on them. Over time, that approach helped him take on more responsibility and earn trust.

What Drives His Work Today

Joel’s motivation is simple and personal.

“My family and the people around me that I work with, and strive to help them succeed as well.”

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This focus shows up in how he works. He doesn’t just aim to complete tasks. He wants to be someone others can rely on.

That mindset has helped him contribute meaningfully to teams and projects. It also reflects a bigger idea—success is not just about individual results. It’s about helping others move forward, too.

Staying Focused and Moving Forward

Every career has moments of doubt. Joel has learned how to manage them.

“One thing at a time and stay away from feelings of uncertainty and self-doubt.”

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That approach keeps him steady. Instead of getting overwhelmed, he breaks things down and focuses on the next step.

He also believes in setting clear goals.

“Setting goals and pushing myself to achieve them.”

This combination—focus and goal setting—has helped him move forward in his career without losing direction.

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A Different View on Feedback

Joel has a practical view of feedback and outside opinions.

“As long as I believe myself and my work to be successful, peer feedback is not very valuable to me.”

This doesn’t mean ignoring others. It means trusting his own standards first.

In hands-on industries like construction and welding, results speak clearly. Joel focuses on the quality of his work and the trust he builds with others.

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Life Outside of Work

Outside of his career, Joel Ney stays active and connected to his interests.

He enjoys traveling, hunting, fishing, and riding ATVs. He also continues to work on construction and contracting projects, even outside of his main job.

His connection to the community is just as strong. He volunteers at his church and helps with local youth sports teams. He also supports SPCA organizations and local charities.

These activities reflect the same values he brings to work—consistency, effort, and a focus on helping others.

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Building a Career That Lasts

Joel Ney’s story is not about overnight success. It’s about steady progress.

He started with limited experience. He learned from others. He built skills over time. And he stayed focused on what matters—trust, family, and doing the job right.

His career shows how small, consistent actions can lead to real results. By taking things one step at a time, he has turned effort into opportunity.

And in his own words, it comes back to a simple idea:

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“Having the people around me trust that I can get the job done.”

That trust is what he continues to build—one project at a time.

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Pacifica announces acquisition of the Repaircare business

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The County Durham firm has increased its share of the domestic appliance repair market with the deal

Pacifica Group repairs more than 350,000 home appliances every year

Pacifica Group repairs more than 350,000 home appliances every year(Image: Ryan Edy)

Domestic appliance repair firm Pacifica has announced the acquisition of the Repaircare business from Screwfix Spares, expanding its national service capability.

The acquisition sees County Durham-based Pacifica take on all Repaircare client contracts and operational activities. These include a number of partnerships with major retailers and manufacturers, collectively accounting for around 80,000 appliance repair jobs per year.

Repaircare was originally part of the Connect Group, which was acquired out of administration by Screwfix in 2023. As part of the deal, more than 35 back-office and operational staff will transfer to Pacifica under TUPE arrangements, while around 120 subcontracted engineers currently supporting Repaircare’s nationwide operations will transition to Pacifica’s network of repair professionals.

The Repaircare brand will be fully-integrated into the group’s Pacifica Appliance Services division. Pacifica said the deal aligns with its sustainability strategy, which focuses on extending appliance lifecycles through repair services and reducing unnecessary waste.

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The acquisition strengthens Pacifica’s national infrastructure, which delivers more than 360,000 appliance repairs annually through a network of around 350 directly employed colleagues and partnerships with more than 200 engineering companies across the UK.

Rob Johnson, managing director of Pacifica Appliance Services, said: “This acquisition represents a significant step forward in the continued growth of Pacifica Appliance Services. Repaircare has built strong relationships with leading retailers and manufacturers, and we are delighted to welcome both its customers and operational teams into the Pacifica family.

“Our priority is to ensure a seamless transition for all partners and their customers. With our nationwide network of skilled engineers, advanced technology platforms and proven operational expertise, customers can be confident that they are in safe hands.”

Dan Monaghan, CEO of Screwfix Spares, said: “We are pleased to complete this transaction that sees RepairCare joining Pacifica. This move allows Screwfix Spares to remain focused on its core business, supplying spare parts and accessories that keep products in use for longer. Colleagues who are transferring will join a specialist repair business with a strong national footprint and deep expertise in this area. We wish everyone every success in this new chapter.”

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Alexandria Real Estate Equities, Inc. (ARE) Q1 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Alexandria Real Estate Equities, Inc. (ARE) Q1 2026 Earnings Call April 28, 2026 2:00 PM EDT

Company Participants

Joel Marcus – Founder & Executive Chairman
Marc Binda – CFO & Treasurer
Jenna Foger – Senior Principal of Science and Technology
Peter M. Moglia – CEO & Chief Investment Officer

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Conference Call Participants

Paula Schwartz – Rx Communications Group LLC
Farrell Granath – BofA Securities, Research Division
Nicholas Joseph – Citigroup Inc., Research Division
Ronald Kamdem – Morgan Stanley, Research Division
Anthony Paolone – JPMorgan Chase & Co, Research Division
James Kammert – Evercore ISI Institutional Equities, Research Division
Vikram Malhotra – Mizuho Securities USA LLC, Research Division
Richard Anderson – Cantor Fitzgerald & Co., Research Division
Wesley Golladay – Robert W. Baird & Co. Incorporated, Research Division
John Kim – BMO Capital Markets Equity Research
Michael Carroll – RBC Capital Markets, Research Division
Dylan Burzinski – Green Street Advisors, LLC, Research Division
James Feldman – Wells Fargo Securities, LLC, Research Division

Presentation

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Operator

Good day, and welcome to the Alexandria Real Estate Equities’ First Quarter 2026 Conference Call. [Operator Instructions] Please note, today’s event is being recorded. I’d now like to turn the conference over to Paula Schwartz with Investor Relations. Please go ahead.

Paula Schwartz
Rx Communications Group LLC

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Thank you, and good afternoon, everyone. This conference call contains forward-looking statements within the meaning of the federal securities laws. The company’s actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company’s periodic reports filed with the Securities and Exchange Commission. And now I’d like to turn the call over to Joel Marcus, Executive Chairman and Founder. Please go ahead, Joel.

Joel Marcus
Founder & Executive Chairman

Thank you, Paula, and welcome, everybody, to our first quarter earnings call. With me today are

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US mandates what it calls ’enhanced’ security checks for immigration applicants

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US mandates what it calls ’enhanced’ security checks for immigration applicants


US mandates what it calls ’enhanced’ security checks for immigration applicants

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Oil prices fall from 3-wk high; UAE leaves OPEC, Hormuz disruptions persist

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Oil prices fall from 3-wk high; UAE leaves OPEC, Hormuz disruptions persist

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Coca-Cola Stock Climbs 6% to $80 on Q1 Earnings Beat and Raised 2026 Outlook

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Diet Coke

NEW YORK — Coca-Cola Co. shares jumped more than 6% to $80.21 in morning trading on Tuesday, April 28, 2026, after the beverage giant reported first-quarter results that topped Wall Street expectations and raised its full-year earnings guidance, driven by resilient global demand for its higher-priced drinks and strong execution in emerging markets.

The Atlanta-based company posted adjusted earnings per share of 86 cents, beating analysts’ consensus estimate of 81 cents. Revenue reached $12.47 billion, surpassing forecasts of approximately $12.24 billion. Organic revenue growth hit 10%, marking the company’s strongest performance in five quarters and reflecting successful pricing strategies alongside solid volume gains.

Coca-Cola raised its full-year comparable earnings per share growth outlook to 8-9% from a previous 7-8%, while maintaining its organic revenue growth target of 4-5%. The upbeat update signaled confidence in sustained consumer demand despite economic pressures in some regions.

CEO James Quincey highlighted broad-based strength across categories and geographies. Sparkling beverages, particularly zero-sugar and premium offerings, continued to perform well as consumers traded up within the portfolio. The company also benefited from disciplined cost management and operational efficiencies that expanded operating margins.

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The strong results triggered enthusiastic buying, with shares easily outpacing the broader market. Volume surged in early trading as both institutional investors and retail traders reacted to the beat. The move pushed Coca-Cola toward its 52-week high and underscored its status as a defensive powerhouse in an uncertain economic environment.

Coca-Cola’s performance stands out amid mixed consumer spending trends. While some packaged goods companies have faced pushback against price increases, the world’s largest beverage maker has successfully balanced pricing power with innovation and marketing. Its diversified portfolio — spanning sparkling soft drinks, water, sports drinks, coffee and juices — has helped insulate it from category-specific slowdowns.

Analysts praised the results. Several firms raised price targets following the report, citing improved visibility into the year and the company’s ability to navigate inflationary pressures. The raised guidance was viewed as particularly encouraging, removing a layer of uncertainty heading into the critical summer selling season.

For investors, Coca-Cola remains a core holding in many portfolios thanks to its reliable dividend, global scale and brand strength. The stock’s 3%+ yield combined with steady earnings growth has made it a favorite for income-focused and defensive strategies. Tuesday’s surge adds to solid year-to-date gains and reinforces the company’s resilience.

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The results come as Coca-Cola continues investing in digital transformation, sustainability initiatives and emerging market expansion. Management noted particular strength in developing regions where rising middle classes are driving demand for premium beverages. North America and Europe also contributed positively despite varying economic conditions.

Broader industry trends support Coca-Cola’s momentum. The shift toward premiumization — consumers choosing higher-end or better-for-you options — plays directly into the company’s strategy. Innovations like new flavors, limited editions and functional beverages have helped maintain excitement around core brands.

Challenges remain. Input cost pressures, foreign exchange volatility and changing consumer preferences require ongoing vigilance. The company has faced scrutiny over sugar content and environmental impact, prompting accelerated efforts in recyclable packaging and reduced-plastic initiatives.

Wall Street consensus remains bullish. Most analysts rate the stock as a Buy or Outperform with average price targets well above current levels. The combination of earnings visibility, dividend growth and long-term demographic tailwinds continues attracting long-term capital.

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As trading progressed Tuesday morning, shares consolidated near session highs with healthy volume. Technical analysts noted the breakout above recent resistance, with potential near-term targets in the low-to-mid $80s if momentum holds. Options activity showed increased call buying, reflecting optimism.

Coca-Cola’s ability to deliver consistent results in a complex global environment highlights the strength of its business model. With a market capitalization exceeding $300 billion, the company remains one of the most valuable consumer staples franchises worldwide. Tuesday’s reaction demonstrates the market’s appreciation for reliable execution and forward-looking confidence.

Looking ahead, investors will watch second-quarter performance closely, particularly summer volume trends in key markets. Any further guidance updates or strategic announcements could provide additional catalysts. For now, the Q1 beat and raised outlook have set a positive tone for the remainder of 2026.

The day’s move reinforces Coca-Cola’s reputation as a blue-chip name capable of delivering growth and stability. As global economies navigate uncertainty, the company’s focus on essential consumer products and pricing discipline positions it favorably for continued success.

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Moody’s Upgrades Thailand’s Credit Outlook from ‘Negative’ to ‘Stable’

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Thailand lifts cap on forex repatriation to temper baht rally

Moody’s Ratings has revised Thailand’s sovereign credit outlook from “negative” to “stable,” crediting improved political stability and progress on structural economic reforms.

Key Details:

  • Moody’s has affirmed Thailand’s long-term local and foreign currency issuer ratings at Baa1, with the outlook shift announced by Finance Minister Ekniti Nitithanprapas.
  • The upgrade reflects the perceived stability of Prime Minister Anutin Charnvirakul’s government, which has enabled greater policy continuity and reform momentum.
  • Key reform priorities include easing business regulations and liberalising the energy market to encourage private sector competition.
  • External pressures have eased, with reciprocal tariff negotiations bringing Thai customs duties more in line with regional peers, boosting export competitiveness.
  • Pressure from the global energy crisis is considered manageable and comparable to other Baa1-rated nations.
  • Private investment is recovering strongly, partly driven by the government’s ‘Thailand FastPass’ initiative, which accelerated private sector spending in Q4 of last year.

The upgrade signals a significant improvement in international confidence in Thailand’s economic and political trajectory, with analysts suggesting that successful execution of the planned structural reforms could deliver sustained GDP growth and a stronger fiscal position.

Moody’s upgraded Thailand’s outlook to “stable” primarily due to improved political stability and a clearer path toward structural economic reforms.

The key drivers cited by the agency include:

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  • Reduced Political Uncertainty: The stability of Prime Minister Anutin Charnvirakul’s government has mitigated the political volatility that previously weighed on the economic outlook, allowing for essential policy continuity.
  • Reform Momentum: The administration is actively pursuing reforms to boost business flexibility and liberalize the energy market, which Moody’s views as a positive trajectory for long-term growth.
  • Easing External Pressures: Negotiations on reciprocal tariffs have reduced trade friction, aligning Thai customs duties with regional peers and enhancing export competitiveness.
  • Resilient Private Investment: There is a robust recovery in private investment, accelerated by the government’s “Thailand FastPass” initiative.

While global energy price pressures remain a concern, Moody’s determined that the resulting impact on Thailand’s debt and economy is manageable and comparable to other nations with a Baa1 rating.

Moody’s cited the stability of Prime Minister Anutin Charnvirakul’s government as the primary factor in improving political stability, which in turn enabled progress on structural reforms.

The key reforms the government is focused on, which are seen as driving the improved outlook, include:

  • Easing Business Regulations: Streamlining bureaucratic hurdles to make it easier for businesses to operate.
  • Liberalising the Energy Market: Opening up the power sector to foster private sector competition.

These reforms are designed to create new economic engines and boost the nation’s Gross Domestic Product (GDP), with the long-term goal of achieving a more robust fiscal position.

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A fresh financial crisis may be coming – it won't play out like the last one

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A fresh financial crisis may be coming - it won't play out like the last one

Several warning lights are flashing that have some wondering whether we are in the foothills of another financial crisis.

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Bicara Therapeutics CMO David Raben sells $125,830 in shares

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Bicara Therapeutics CMO David Raben sells $125,830 in shares

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NYC tax hike on wealthy draws sharp criticism from Kevin O’Leary

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NYC tax hike on wealthy draws sharp criticism from Kevin O'Leary

A renewed push to raise taxes on wealthy individuals and corporations in New York City is drawing criticism from business leaders as policymakers weigh how to balance budgets without driving away investment.

O’Leary Ventures Chairman Kevin O’Leary joined FOX Business’ Stuart Varney on “Varney & Co.” to weigh in on proposals targeting high earners, arguing the approach risks undermining the economic activity cities rely on.

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Kevin O'Leary and Zohran Mamdani

“Shark Tank” star Kevin O’Leary calls out Mayor Zohran Mamdani’s NYC tax policies. (Andrew Harnik, Michael M. Santiago / Getty Images)

“Well, let’s just look at the policy itself and stay out of the emotional aspect of it… These people do not live in the city, they do not burden the city with anything because they’re obviously out-of-towners,” O’Leary said.

TAX FIGHT HEATS UP AS NEW YORK TARGETS WEALTHY HOMEOWNERS

His comments come as major firms and high-net-worth individuals increasingly signal a willingness to relocate capital in response to tax policy, a trend that has reshaped migration patterns across several high-tax states in recent years.

O’Leary pointed to the role that outside investors play in funding development and supporting local economies through spending and taxes.

HOCHUL TAX PLAN TARGETS HIGH-END SECOND HOMES AMID REVENUE PRESSURES

“They spend 5 million plus dollars… Not using any of the city’s services, which is what the city needs, less people putting pressure on it. They pay taxes, and they pay maintenance jobs to maintain the buildings,” he said.

He argued that policies targeting those investors risk discouraging activity that cities depend on.

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“Let me count how many ways this policy is stupid… You want more of these people… That don’t live here, pay taxes, pay maintenance, create jobs… And don’t use the city’s services, that’s sheer blind stupidity, that policy,” O’Leary said.

The debate highlights broader questions about how cities can balance revenue needs with maintaining a competitive environment for investment and growth.

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