From the desk of Rich Stephens
News for the week ending 5-2-26
Below find the expanded text from tonight’s broadcast. For corrections or additions, contact Rich directly.
King Charles III Visits Washington
Tuesday, King Charles III of England addressed a joint session of the United States Congress. It was immediately clear that he has an excellent grasp of our shared language. He thanked the American people for welcoming him “to mark this semi-quincentennial year of the Declaration of Independence.” He expressed respect for the American Congress, referring to it as a “citadel of democracy, created to represent the voice of all American people, to advance sacred rights and freedoms”. He said the founding fathers were bold and imaginative rebels with a cause, prompting cheers across the chamber. During his visit, the King also visited ground zero in New York City and laid a wreath at Arlington National Cemetary.
Full King Charles III Address To Congress
Strait of Hormuz Remains Disrupted
The Strait of Hormuz remains disrupted. On April 19, U.S. Central Command said U.S. forces disabled an Iranian-flagged cargo vessel attempting to enter Bandar Abbas and violate the U.S. blockade. CENTCOM said the USS Spruance issued multiple warnings over six hours before disabling the vessel’s propulsion. U.S. Marines then boarded the ship. CENTCOM said U.S. forces had directed 25 commercial vessels to turn around or return to Iranian ports since the blockade began. On April 22, the United Kingdom said British and French military planners were leading more than 30 nations in planning a mission to reopen the Strait of Hormuz. The UK said the mission is intended to protect merchant vessels, reassure commercial shipping operators, and conduct mine-clearance operations.
On April 24, the UK government said it was monitoring jet fuel stocks and working with airlines, airports, and fuel suppliers “since the closure of the Strait of Hormuz.” France has called for the “unconditional, unrestricted and immediate reopening of the Strait of Hormuz,” and said it is willing to support freedom of navigation as part of the Franco-British initiative. The U.S. Maritime Administration’s active advisory still says Iran continues to threaten and conduct strikes on commercial vessels in the Persian Gulf, Strait of Hormuz, and Gulf of Oman. MARAD says risks to commercial shipping remain high.
The latest official status is an active U.S. blockade of Iranian ports, allied planning to reopen the Strait, and continued high-risk warnings for commercial vessels.
CENTCOM Statement
UK-France Planning Statement
UK Jet Fuel Statement
UK U.N. Security Council Statement
France Foreign Ministry Statement
MARAD Advisory
Cole Tomas Allen Arraigned After White House Correspondents’ Dinner Shooting
Cole Tomas Allen, 31, of Torrance, California, was arraigned Monday, April 27, in federal court after the April 25 shooting at the White House Correspondents’ Association Dinner.
He is charged with attempted assassination of the President of the United States, interstate transportation of a firearm to commit a felony, and discharge of a firearm during a crime of violence.
Allen traveled by train from California to Washington, D.C., arriving April 24 and checking into the Washington Hilton.
Shortly before 8:40 p.m. the next night, Allen ran through a security checkpoint with a shotgun and fired a round.
A Secret Service officer was struck in the chest, returned fire, and Allen was taken into custody without injury. The officer has since been released from the hospital, and no other injuries were reported.
In a detention memo, prosecutors said Allen’s actions were “premeditated, violent, and calculated to cause death.”
Prosecutors said Allen was carrying a 12-gauge pump shotgun, a .38 caliber pistol, additional ammunition, and multiple knives.
At Monday’s DOJ press conference, U.S. Attorney Jeanine Pirro said additional charges may be coming.
DOJ Press Release
Criminal Complaint
DOJ Press Conference
Supreme Court Reverses Ruling Against Texas Congressional Map
On April 27, the Supreme Court reversed a lower court ruling against Texas’s 2025 congressional redistricting map.
The case is Abbott v. League of United Latin American Citizens. The order was short. The Court wrote, “For the reasons set forth in Abbott v. League of United Latin American Citizens, 607 U.S. ___ (2025), we reverse the District Court’s judgment.”
Justices Sonia Sotomayor, Elena Kagan, and Ketanji Brown Jackson dissented.
The lower court had blocked Texas from using the new map. The Supreme Court had already paused that ruling in December, allowing the map to be used for the 2026 election cycle.
Texas was direct about the purpose of the map. In its own Supreme Court filing, the state said the Legislature redistricted “to secure five additional Republican seats in the U.S. House of Representatives.”
The Supreme Court did not strike down Texas’s map. It reversed the lower court ruling that blocked it.
James Comey Indicted Again Over “86 47” Instagram Post
Former FBI Director James Comey was indicted again on Tuesday, April 28, this time in the Eastern District of North Carolina.
The new indictment charges Comey with two federal counts tied to a May 15, 2025 Instagram post.
According to the indictment, Comey posted a photograph on Instagram showing seashells arranged to read “86 47.” Prosecutors allege the post would be interpreted by a reasonable recipient familiar with the circumstances as a serious expression of intent to harm President Donald Trump.
Count One charges Comey with threatening the President under 18 U.S.C. § 871(a). Count Two charges him with transmitting a threat in interstate and foreign commerce under 18 U.S.C. § 875(c).
The Justice Department said Comey faces a maximum penalty of 10 years in prison if convicted.
Acting Attorney General Todd Blanche said, “Threatening the life of the President of the United States is a grave violation of our nation’s laws.”
FBI Director Kash Patel said Comey “disgracefully encouraged a threat on President Trump’s life and posted it on Instagram for the world to see.”
U.S. Attorney Ellis Boyle said, “No one is above the law in the Eastern District of North Carolina.”
This is a separate indictment from the one DOJ announced in September, when Comey was charged with obstruction of a congressional investigation and making a false statement.
The new case remains pending. DOJ states that an indictment is only an accusation and that Comey is presumed innocent unless proven guilty.
Prior DOJ Comey Indictment Statement
House Passes Farm Bill and DHS Funding Measure
The House passed two major bills Thursday, April 30, following a late-night budget vote the night before.
First, the House passed H.R. 7567, the Farm, Food, and National Security Act, by a vote of 224 to 200. The bill would continue and reform Department of Agriculture programs through fiscal year 2031.
Later Thursday, the House passed H.R. 7147 by voice vote.
The bill funds parts of the Department of Homeland Security, including TSA, Coast Guard, Secret Service, FEMA, and other agency operations.
But the text sets funding for ICE and CBP border-security operations at zero.
Speaker Mike Johnson said Republicans plan to fund ICE and border enforcement separately through reconciliation when lawmakers return.
That path was opened Wednesday night, when the House passed a budget resolution by a vote of 215 to 211, with one member voting present.
Johnson also said the House renewed FISA. The House passed a Section 702 renewal Wednesday by a vote of 235 to 191, but that bill still has to go to the Senate.
Supreme Court Strikes Down Louisiana Congressional Map
The Supreme Court ruled Wednesday, April 29, that Louisiana’s congressional map with a second majority-Black district is an unconstitutional racial gerrymander.
The case is Louisiana v. Callais, consolidated with Robinson v. Callais. The Court ruled 6-3, with Justice Samuel Alito writing for the majority.
The case started after Louisiana redrew its congressional districts following the 2020 census. In 2022, a federal judge found that Louisiana’s map likely violated Section 2 of the Voting Rights Act because it did not include an additional majority-Black district.
Louisiana later enacted SB8, a new congressional map with a second majority-Black district. That map was then challenged as an unconstitutional racial gerrymander.
The Supreme Court affirmed the lower court ruling against SB8. The majority held that “Because the Voting Rights Act did not require Louisiana to create an additional majority-minority district, no compelling interest justified the State’s use of race in creating SB8.”
The Court said compliance with Section 2 of the Voting Rights Act can still justify race-conscious redistricting in some cases, but only when Section 2 is properly interpreted.
The majority said Section 2 imposes liability only when evidence supports a strong inference that the state intentionally drew districts to give minority voters less opportunity because of race.
The Court said Louisiana’s earlier 2022 map should not have been found to violate Section 2, so the state could not rely on Voting Rights Act compliance to justify the race-based design of SB8.
Justice Elena Kagan dissented, joined by Justices Sonia Sotomayor and Ketanji Brown Jackson. The dissent said the ruling changes Section 2 doctrine and will make vote-dilution claims much harder to prove.
The case now returns to the lower court.
Florida Legislature Approves New Congressional Map
Florida lawmakers approved a new congressional map on Wednesday, April 29, during a special session on redistricting.
The bill is House Bill 1D, titled “Establishing the Congressional Districts of the State.” It redraws Florida’s congressional districts under plan EOGPCRP2026.
The Florida House passed the bill by a vote of 83 to 28. The Senate approved it later the same day, 21 to 17.
The plan redraws Florida into 28 single-member congressional districts.
Governor Ron DeSantis submitted the proposed map to legislative leaders on April 27 and urged lawmakers to adopt it during the special session.
After passage, the bill was ordered enrolled, the final step before it is sent to the governor.
Reuters reported that the new map is expected to flip four Democratic-held seats Republican, shifting Florida’s congressional delegation from 20 Republicans and 8 Democrats to 24 Republicans and 4 Democrats.
Current Events
FWC Report Documents Sloth Deaths and Housing Violations at Orlando Wildlife Facility
Florida Fish and Wildlife documented housing violations and prior sloth deaths during an August 7 inspection at an Orlando wildlife facility.
The unannounced inspection took place at Sanctuary World Imports on International Drive. The report identifies Peter Bandre as the licensee and lists the business as a wildlife broker.
FWC found six two-toed sloths on site. Four were housed in larger enclosures, while two were kept in smaller metal cages that did not meet state caging requirements. The report also says the animals or cages were not properly marked and traceable to written records for temporary housing.
A verbal warning was issued.
The inspection also included an inquiry into 31 sloth deaths between December 2024 and February 2025.
According to the report, Bandre said 21 sloths from Guyana died from what he called “cold stun.” He said the building intended to house them was not ready when they arrived in December, had no power or water, and relied on space heaters that failed during cold weather.
The report says 10 more sloths arrived from Peru on February 19. Two were dead on arrival, and the remaining eight were described as emaciated and in poor health before later dying.
At the time of the August inspection, FWC marked the animals on site as appearing healthy, with food, water, and sanitation listed as acceptable. But the report also states the enclosures did not meet required caging standards.
In April, Central Florida Zoo said it accepted 13 two-toed sloths and placed them in quarantine for at least 30 days. The zoo said the animals were being kept off display and monitored by veterinary, animal care, and nutrition staff.
The next day, the zoo said all 13 had survived their first 24 hours in its care. The zoo said many were dehydrated and underweight, but were eating and drinking.
On April 29, the zoo announced that one of the sloths, Bandit, had died. The zoo said Bandit arrived in critical condition with severe lethargy, dehydration, nutritional and electrolyte imbalances, and gastrointestinal complications. The zoo said he was humanely euthanized after his condition declined.
No charges or fines are listed in the FWC report.
D.C. Circuit Allows Pentagon Escort Rule to Continue During Appeal
On April 27, the U.S. Court of Appeals for the D.C. Circuit allowed the Pentagon to keep requiring journalists to be escorted inside the Pentagon while an appeal continues.
The case was brought by The New York Times and reporter Julian Barnes over the Pentagon’s press-access rules. A district court had previously ruled against parts of the policy, and later found that the Department’s revised policy did not comply with that order.
The D.C. Circuit stayed the April 9 district court order only “to the extent that it entitles journalists to access the Pentagon unescorted.”
The court said the Department had supported its national-security argument with evidence that journalists had obtained “sensitive or classified” information “often monthly, and sometimes multiple times per month,” including “operational plans” and “intelligence assessments.”
Judge J. Michelle Childs dissented. She wrote, “An injunction is not an invitation to circumvention.”
The appeal continues.
DOJ Sues Cloudera Over Alleged U.S. Worker Discrimination
The Justice Department sued Cloudera Inc. on Tuesday, April 28, alleging the company discriminated against U.S. workers while sponsoring foreign workers for permanent roles.
The complaint was filed with the Office of the Chief Administrative Hearing Officer under the Immigration and Nationality Act. DOJ alleges Cloudera violated the law through its use of the PERM labor certification process.
PERM, which stands for Program Electronic Review Management, is the system employers must use when sponsoring a foreign worker for a green card. Before moving forward, employers are required to test the U.S. labor market and prove that no qualified, willing, and available U.S. workers can fill the position. That process includes specific recruitment steps, including publicly advertising the job and accepting applications from U.S. candidates in good faith.
According to the complaint, from at least March 31, 2024, to at least January 28, 2025, Cloudera used a separate hiring process for at least seven PERM-related technology jobs. The positions paid about $180,000 to $294,000 per year and included Product Manager, Senior Staff Engineer, and Senior Solutions Consultant roles.
DOJ alleges that while Cloudera normally posted jobs on its public careers website and accepted applications through its standard system, the PERM-related roles were handled differently. Instead of using the normal application process, applicants were instructed to send resumes to a dedicated email address.
The complaint states that the email address did not accept external emails. One U.S. worker who attempted to apply received a bounce-back message stating the group “may not exist” or that the sender may not have permission to post messages to it.
DOJ alleges Cloudera did not track resumes sent to that address, did not correct the issue, and did not hire any U.S. workers for the seven PERM-related positions during the relevant period.
Assistant Attorney General Harmeet Dhillon said, “Employers cannot use the PERM sponsorship process as a backdoor for discriminating against U.S. workers.”
The lawsuit seeks a cease-and-desist order, civil penalties, and back pay with interest for affected workers. The case remains pending.
Spirit Airlines Shuts Down Operations
Spirit Airlines shut down operations Saturday, May 2, after more than three decades as an ultra-low-cost carrier.
The company said it began an immediate wind-down and canceled all flights. Spirit told customers not to go to the airport and said there was no remaining customer service available for rebooking.
Spirit said the shutdown followed “extensive and comprehensive efforts” to restructure the business. The company said a recent material increase in oil prices, along with other business pressures, significantly damaged its financial outlook. Spirit said it had no additional funding available.
Spirit CEO Dave Davis said the airline reached an agreement with bondholders in March that was intended to let the company emerge from Chapter 11 as a going-forward business. He said the sudden and sustained rise in fuel prices left Spirit needing hundreds of millions of dollars in additional liquidity that it did not have and could not obtain.
The shutdown followed years of financial pressure. Spirit emerged from a 2024 bankruptcy in March 2025, then filed Chapter 11 again on August 29, 2025. In a September SEC filing, Spirit said there was substantial doubt about its ability to continue as a going concern.
In March, Spirit announced a new restructuring support agreement. The plan called for a smaller fleet, a tighter route network, more premium seating, and a reduction of debt and lease obligations from $7.4 billion before filing to about $2 billion after emergence.
That plan did not hold.
The political backdrop includes the failed JetBlue-Spirit merger. In 2024, the Justice Department said JetBlue abandoned its $3.8 billion acquisition of Spirit after a federal court blocked the deal on antitrust grounds. DOJ said the merger would have led to higher fares and fewer choices.
After Spirit shut down, Transportation Secretary Sean Duffy blamed the prior administration’s handling of the merger and said DOT was coordinating with airlines to support stranded passengers and Spirit employees.
DOT said United, Delta, JetBlue, and Southwest were capping ticket prices for Spirit customers who need to rebook. American and Delta were offering reduced fares on high-volume Spirit routes. Allegiant committed to freezing fares on overlapping routes, and Frontier offered discounted base fares.
Spirit said customers who bought flights through Spirit with a credit or debit card will receive automatic refunds. Customers who used travel agents must contact the agent. Compensation for vouchers, credits, or Free Spirit points will be handled later through the bankruptcy process.
Spirit Statement
Spirit SEC Filing
Spirit Restructuring Agreement
DOT Statement
DOJ JetBlue-Spirit Statement
Delta Statement
Finance
Markets
Markets remained fairly flat this week. The Dow Jones gained 269 points, closing at 49,499, a half point gain.
The NASDAQ closed at 25,114, a 1% gain represented by 278 points.
The S&P 500 gained 65 points, almost a 1% gain with a closing value of 7230.
Gold lost more ground this week, with futures trading closing at $4644, a 2% loss.
Fed Meeting
Wednesday, April 29 Fed Chair Jerome Powell announced that interest rates will remain stationary for the third straight period. After consistently moving to lower rates through late 2025, the Fed has now kept rates static since January. Powell is no longer under criminal investigation for a $1B overrun to the fed office renovation project, but his relationship with the White House remains contentious. He maintains that he will not leave the board until the investigation is well and truly over.
Sports
London Marathon
Sunday, April 26, the London Marathon turned into a record book bonfire. Here’s the rundown (make a face)
Kenya’s Sabastian Sawe won the men’s race in 1:59:30, becoming the first runner to break two hours in a record-eligible marathon. Ethiopia’s Yomif Kejelcha finished second in 1:59:41, also under two hours, and Uganda’s Jacob Kiplimo took third in 2:00:28. All three were under the previous world record of 2:00:35. Sawe and Kejelcha broke away late, with Sawe making the move inside the final two kilometers and closing with a 59:01 second half, meaning he sped up in the second 13 miles of the race.
In the women’s race, Ethiopia’s Tigst Assefa won in 2:15:41, the fastest women’s marathon time ever. Hellen Obiri finished second in 2:15:53, and Joyciline Jepkosgei was third in 2:15:55. It was the first time three women finished under 2:16 in the same race.
Another Sabastian, Former Formula One driver Sebastian Vettel also ran the race, finishing in 2:59:08 in his first ever marathon. London got two sub-two-hour marathon, three men under the old world record, and a women’s race that reset the top end…all in the same morning.
Talladega NASCAR
Sunday, April 26, Carson Hocevar won the Jack Link’s 500 at Talladega for his first career NASCAR Cup Series win. The race turned on Lap 115, when Ross Chastain pushed Bubba Wallace at the front of the field. Wallace got sideways into the outside wall, Cole Custer moved to avoid him, and the three-wide pack folded into Turn 3. 26 of the 40 cars were collected. The race was red-flagged at Lap 116, and all drivers who could not continue were checked and released from the infield care center. Talladega did Talladega things: 26 cars wrecked, eight cars done for the day, and a first-time winner standing in victory lane. Wallace finished 36th.
NBA Rookie of the Year Cooper Flagg
Cooper Flagg took NBA rookie of the year after a tight race between himself and his college roommate Kon Knueppel. He received 56 of the 100 first place votes after being the number 1 overall pick in last year’s draft, averaging 21 points, 6.7 rebounds and 4.6 assists per game. He joins Jordan as being the only other rookie in history to lead his team in all three categories. He is also the second youngest player to ever win the award, behind Lebron James.
NBA Playoffs
Speaking of NBA, three of the conference semifinal matchups have been decided. The Suns, Rockets, Nuggets and Trail Blazers were eliminated from the Western conference. The Thunder will now face the Lakers and the Timberwolves see the Spurs. In the east, the Knicks eliminated the Hawks and the 76-ers sent the Celtics home. The Cavs and Raptors will play game 7 of their first round series tonight, with the Magic and Pistons game 7 this afternoon.
Stanley Cup Playoffs
In the NHL, the Stanley Cup Playoffs are moving to round 2. In the West, the Kings, Stars, Mammoth and Oilers are all out. The Avalanche will face the Wild and Golden Knights will play the Ducks. In the East, the Hurricanes ousted the Senators and [game 1 against the Flyers] who sent the Penguins home in round 1. The Sabres who cancelled Boston’s postseason await game 7 between the Canadiens and the Tampa Bay Lightening on Sunday May 3. Not a good year for basketball or hockey in Boston. The Hurricanes took Game 1 of round 2 against the Flyers, 3-0
MLB
You might notice I’m piling on Boston a little. Well in MLB the Red Sox sit at the bottom of the AL East with a record of 13-20, 9 games back from the division leading Yankees who are 22-11. Atlanta holds the best record in baseball. The Braves are 24-10 and sit 7.5 games ahead of the Marlins in the NL East.
Formula 1 Miami Grand Prix
After more than a month off, F1 returns with a sprint weekend in Miami. Friday, Lando Norris put his McLaren on pole with championship leading Kimi Antonelli qualifying second, ahead of Oscar Piastri. In the sprint, Piastri got around Antonelli who ultimately finished 6th. Norris won ahead of Piastri, Leclerc, Russel and Verstappen. In qualifying for the main race, Kimi Antonelli took pole with Max Verstappen in second, followed by the Ferrari of Charles Leclerc. Due to weather concerns, the start time has been moved up to 1:00 eastern, meaning by the time this video is live the race will be over. Not to worry though, you can’t watch it unless you have an apple TV subscription and have updated your iOS and the app to the latest version.
Kentucky Derby
Saturday, May 2, Golden Tempo won the 152nd Kentucky Derby at Churchill Downs. The horse was ridden by Jose Ortiz and trained by Cherie DeVaux, who became the first woman trainer to win the Kentucky Derby. Golden Tempo rallied from the back of the field and finished the mile-and-a-quarter race in 2:02.27. The finish also put two brothers at the center of the race. Jose Ortiz won after passing Renegade, ridden by his brother Irad Ortiz Jr., who finished second.
Rich Stephens
The Cold Take