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    As Energy Costs Surge, Eastern Governors Blame a Grid Manager

    For decades, a little-known nonprofit organization has played a central role in keeping the lights on for 65 million people in the Eastern United States.Even some governors and lawmakers acknowledge that they were not fully aware of how much influence the organization, PJM, has on the cost and reliability of energy in 13 states. The electrical grid it manages is the largest in the United States.But now some elected leaders have concluded that decisions made by PJM are one of the main reasons utility bills have soared in recent years. They said the organization had been slow to add new solar, wind and battery projects that could help lower the cost of electricity. And they say the grid manager is paying existing power plants too much to supply electricity to their states.Some governors have been so incensed that they have sued PJM, drafted or signed laws to force changes at the organization, or threatened to pull their states out of the regional electric grid.The Democratic governors of Delaware, Maryland, New Jersey and Pennsylvania sharply criticized the organization in recent interviews with The New York Times and in written statements. And the Republican governor of Virginia, Glenn Youngkin, called on the organization to fire its chief executive in a letter obtained by The Times.“PJM has lost the plot,” Gov. Philip D. Murphy of New Jersey said in an interview. In another interview, Gov. Wes Moore of Maryland said about PJM, “I am angry.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Southwest Airlines Agrees to Board Changes After Pressure From Elliott

    The airline has been under pressure from the hedge fund Elliott to replace its top management and make other changes to increase its profits.Southwest Airlines on Tuesday announced an overhaul of its board of directors, including the planned departure of its executive chairman, Gary Kelly, after a meeting with a hedge fund that has called for sweeping changes at the company.The board announced the changes while expressing unanimous support for the airline’s chief executive, Bob Jordan, who with Mr. Kelly had been the target of sharp criticism from the hedge fund, Elliott Investment Management. In a statement, the airline said its board was “confident that there is no better leader” for Southwest than Mr. Jordan, who became chief executive in February 2022.“Bob has a proven track record over decades and, most importantly, he has what it takes to lead Southwest through a significant transformation and usher in a new era of profitable growth, innovation and industry leadership,” Mr. Kelly, who was chief executive before Mr. Jordan took over, said in a letter to shareholders.Southwest presented its plan to Elliott at a meeting in New York on Monday. It was not clear whether the overhaul would satisfy Elliott, which has a roughly 11 percent stake in the company. Elliott has called for both Mr. Kelly and Mr. Jordan to step down and has sought to replace most of the directors on the company’s board.Shares of Southwest were down nearly 3 percent in morning trading on Tuesday.“We are pleased that the board is beginning to recognize the degree of change that will be required at Southwest, and we hope to engage with the remaining directors to align on the further necessary changes,” Elliott said in a statement. “The need for thoughtful, deliberate change at Southwest remains urgent, and we believe the highly qualified nominees we have put forward are the right people to steady the board and chart a new course for the airline.”Mr. Kelly, who was the airline’s chief executive for nearly two decades before Mr. Jordan took over, said that he planned to retire after the airline’s annual meeting in the spring. Six other mostly longstanding board members plan to step down after a meeting in November.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Push for Gender Equality in E.U.’s Top Roles Looks Set to Fall Short

    Ursula von der Leyen, the European Commission president, asked member countries to nominate both men and women for commission roles.The European Union has presented itself as a champion for promoting gender equality, adopting rules requiring companies to increase the number of women on their boards and pushing employers to address the gender pay gap.So when Ursula von der Leyen, the president of the European Commission, asked recently for member countries to nominate both male and female candidates for leadership positions within the 27-member bloc’s executive arm, it was seen as an attempt to apply that vision to its own halls. The problem is, few have listened.Only five countries — Sweden, Finland, Spain, Portugal and Croatia — have put forward female candidates ahead of a Friday deadline. Seventeen countries have nominated only men for their commissioner posts. (Three countries have yet to submit names.) Each country gets one leadership slot.It’s possible that some countries could still change their nominees ahead of the deadline. But the current slate of nominees suggests that the European Commission’s leadership team will likely be composed mostly of men for the next five years — and analysts said the public snub of Ms. von der Leyen’s request signals her leadership could be weakened.“It’s not a small thing, asking for gender balance and clearly not getting it,” said a senior European official. “It’s not just one, two countries.” Speaking on condition of anonymity because the process was ongoing, the official said that indicated Ms. von der Leyen’s relations with member states would be more difficult.Ms. von der Leyen, a conservative German politician, secured a second five-year term in a vote last month.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    A Sticking Point in Paramount and Skydance Talks: Who Pays For a Lawsuit?

    A special committee of Paramount’s board of directors supports a merger with Skydance, a studio that has increased its offer in recent days. But the deal isn’t done yet.Paramount and Skydance have haggled for months over an ambitious merger that would usher in a new ruler of a sprawling media kingdom that includes CBS, MTV and the film studio behind “Top Gun.”The talks reached an even greater intensity in the past week, but at least one major sticking point has emerged between Shari Redstone, Paramount’s controlling shareholder, and Skydance. In the event that Paramount’s investors sue over the merger, which party is on the hook to defend the deal in court?National Amusements, the parent company of Paramount, wants Skydance to provide legal protection in the event of a lawsuit, warding off shareholders that may file objections to the merger, according to three people familiar with the matter. Skydance has not yet signed off on that deal term.Legal protection — also known as indemnification — is among the crucial outstanding terms in this deal, which has already been condemned by some Paramount shareholders who protested that it would enrich Ms. Redstone at the expense of other investors.The deal could still fall through. There are several outstanding issues in the negotiations between Skydance and Paramount, which have recently resumed talks. A special committee of Paramount’s board of directors supports a deal with Skydance. (Puck reported earlier that the special committee had greenlit the deal.)Another issue that has yet to be settled is whether Paramount will be given a “go-shop” period to see if it can get a superior offer to the Skydance deal or submit the deal to a shareholder vote, according to two people familiar with the matter. A shareholder vote and a “go-shop” period would protect Paramount and National Amusements from lawsuits, but it could prolong the deal-making process.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Activist Investor Nelson Peltz Is Said to Sell His Disney Stake

    A billionaire who was critical of Disney’s management, Mr. Peltz lost an expensive battle for a place on the company’s board.Nearly two months after losing an epic corporate battle to get on the board of the Walt Disney Company, Nelson Peltz is no longer an investor in the entertainment company.Mr. Peltz, the billionaire head of the hedge fund Trian Fund Management, controlled about $3.5 billion in Disney stock, a vast majority of it owned by Ike Perlmutter, a former chairman of Marvel Entertainment. Mr. Peltz has now sold his portion of those shares, a person familiar with the investment said, requesting anonymity to discuss confidential matters.A spokesman for Disney did not immediately return a request for comment.By selling his shares, Mr. Peltz is seemingly removing a thorn in Disney’s side. Mr. Peltz, an activist investor, began criticizing Disney’s management under Robert A. Iger, the chief executive, early last year, pointing to the company’s streaming strategy, lagging stock price and succession planning. He pulled back after Disney announced billions in cost reductions that sent its stock skyrocketing. But he re-emerged in December, pledging to push for two board seats.That battle came to a head in April when shareholders voted strongly in favor of the company’s current board of directors. The boardroom contest was one of the costliest in history: Trian spent about $25 million in its effort to woo investors, while Disney priced its defense at up to $40 million, according to securities filings.Mr. Peltz is not going home empty-handed, though. Disney’s stock has risen about 15 percent in the past year, closing on Wednesday at about $101. Mr. Peltz sold his Disney stock at $120 a share, the person familiar with this investment said. More

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    Activist Ancora Wins Three Norfolk Southern Board Seats but Will Not Oust CEO

    An activist investment firm failed to replace the railroad’s top executive and all its directors, but did win three seats on its board.Shareholders of Norfolk Southern, the beleaguered freight railroad, on Thursday voted down an attempt by an activist investment firm to remove the company’s chief executive and take control of its board.But the activist, Ancora, a Cleveland firm, managed to secure a foothold at the company, after shareholders voted to place three of its directors onto Norfolk Southern’s 13-member board. Ancora had hoped to take control of the company’s leadership with an aim to cut costs and increase Norfolk Southern’s profits and stock price.The result is a partial victory for Norfolk Southern’s executives, who had to defend themselves against criticisms of the company’s safety record and its lackluster financial performance. A company train carrying hazardous chemicals derailed last year in East Palestine, Ohio, forcing residents to evacuate.The results of the shareholder vote, which are preliminary, were announced Thursday morning at a virtual company annual meeting.During the meeting, Alan Shaw, Norfolk Southern’s chief executive, said he looked forward to working with the new directors.“Norfolk Southern persevered through several challenges over the last year,” he said, “We have met every challenge and never lost sight of where we are taking our powerful franchise.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Leadership of Foundation Honoring Justin Trudeau’s Father Quits

    The Pierre Elliott Trudeau Foundation said that accusations of Chinese meddling in its affairs had made it impossible for it to function as before.A foundation honoring the father of Prime Minister Justin Trudeau of Canada announced Tuesday that its board of directors and chief executive had resigned after being swept into a political storm over leaked intelligence showing that China planned to interfere in Canadian elections.A leak, published in February in The Globe and Mail, a Toronto newspaper, accused China of being behind a 200,000 Canadian dollar donation pledge to the Pierre Elliott Trudeau Foundation in 2016, but did not accuse the foundation of being aware of China’s involvement.The foundation, which has no affiliation with the current prime minister, announced in March that it returned the portion of the donation that it actually received, saying that “we cannot keep any donation that may have been sponsored by a foreign government and would not knowingly do so.”However, returning the donation did not quell criticism from Mr. Trudeau’s political rivals that the foundation had become a tool of influence for China’s government.On Monday, the foundation said in a statement that the board and the president and chief executive, who did not hold that position when the donation was accepted, had decided to step down because “the political climate surrounding a donation received by the Foundation in 2016 has put a great deal of pressure on the foundation’s management and volunteer board of directors, as well as on our staff and our community.”It added: “The circumstances created by the politicization of the foundation have made it impossible to continue with the status quo.”There is no indication that the current prime minister was aware of the 2016 donation. The prime minister severed ties to the foundation, which largely provides scholarships in his father’s name, when he entered politics in 2008.Mr. Trudeau told reporters on Tuesday: “The Trudeau Foundation is a foundation with which I have absolutely no intersection.” He added: “It is a shame to see the level of toxicity and political polarization that is going on in our country these days. But I’m certain that the Trudeau Foundation will be able to continue to ensure that research into the social studies and humanities at the highest levels across Canadian academic institutions continues for many years to come.”In February, The Globe and Mail reported that the Pierre Elliott Trudeau Foundation had received a 200,000 Canadian dollar pledge in 2016 which was made by two wealthy Chinese businessmen, at the behest of a Chinese diplomat. The newspaper, citing a portion of a leaked recording made by the Canadian Security Intelligence Service, said that the diplomat said that the Chinese government would reimburse the two men as part of what it characterized as an attempt to influence Prime Minister Justin Trudeau.The account in the article of Chinese government involvement has never been verified.The report was one of a series based on intelligence leaks, most of which involved allegations of political meddling, that started appearing in the newspaper in mid-February, and later appeared on Global News, a Canadian broadcaster.Criticism of the foundation intensified about a month ago, when Mr. Trudeau appointed David Johnston to look into the allegations of improper meddling by China. Mr. Johnston is a former academic and was once the governor-general of Canada who acted as the country’s head of state as the representative of Queen Elizabeth. He was also once a member of the board of the Trudeau Foundation, a fact that some Conservatives argued made him unfit to lead an investigation.David Johnston, a former governor general, is looking into allegations that China meddled in Canada’s two last elections.Geoff Robins/Agence France-Presse — Getty ImagesThree directors, the foundation said, will continue in their roles as caretakers until a new board and president are found.The donation, according to The Globe and Mail, was part of a 1 million Canadian dollar pledge supposedly underwritten by China to curry influence. The remainder included 750,000 dollars for scholarships at University of Montreal’s law school, “to honor the memory and leadership” of Pierre Trudeau, who opened diplomatic relations between Canada and China in 1970.Another 50,000 dollars was to go to the university for a statue of Mr. Trudeau, which was never erected.The elder Mr. Trudeau was a member of the law school’s faculty before entering politics.Sophie Langlois, a spokeswoman for the university, said that it received 550,000 Canadian dollars of the pledged amount.“We are indeed considering all of our options in the light of new information,” she wrote in an email.The focus of the leaked intelligence reports, according to The Globe & Mail and The Global News, is Chinese interference in the 2019 and 2021 federal elections. The reports suggest that the government of China wanted to ensure that Mr. Trudeau’s Liberal Party defeated the Conservative Party which it viewed as more hostile toward Beijing. Several government reviews have concluded that foreign influence did not change the outcome of either vote.The Conservative opposition has repeatedly called for a public inquiry, a move Mr. Trudeau has called unnecessary. He did, however, promise to hold one if Mr. Johnston recommends that step.On Monday, the leader of Conservative Party, Pierre Poilievre, called for an additional investigation. “We need to investigate the Beijing-funded Trudeau Foundation,” Mr. Poilievre tweeted. “We need to know who got rich; who got paid and who got privilege and power from Justin Trudeau as a result of funding to the Trudeau Foundation.” More

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    DeSantis Takes On the Education Establishment, and Builds His Brand

    A proposal by Gov. Ron DeSantis of Florida to overhaul higher education would mandate courses in Western civilization, eliminate diversity programs and reduce the protections of tenure.Gov. Ron DeSantis of Florida, as he positions himself for a run for president next year, has become an increasingly vocal culture warrior, vowing to take on liberal orthodoxy and its champions, whether they are at Disney, on Martha’s Vineyard or in the state’s public libraries.But his crusade has perhaps played out most dramatically in classrooms and on university campuses. He has banned instruction about gender identity and sexual orientation in kindergarten through third grade, limited what schools and employers can teach about racism and other aspects of history and rejected math textbooks en masse for what the state called “indoctrination.” Most recently, he banned the College Board’s Advanced Placement courses in African American studies for high school students.On Tuesday, Governor DeSantis, a Republican, took his most aggressive swing yet at the education establishment, announcing a proposed overhaul of the state’s higher education system that would eliminate what he called “ideological conformity.” If enacted, courses in Western civilization would be mandated, diversity and equity programs would be eliminated, and the protections of tenure would be reduced.His plan for the state’s education system is in lock step with other recent moves — banning abortions after 15 weeks of pregnancy, shipping a planeload of Venezuelan migrants to Martha’s Vineyard and stripping Disney, a once politically untouchable corporate giant in Florida, of favors it has enjoyed for half a century.His pugilistic approach was rewarded by voters who re-elected him by a 19 percentage-point margin in November.Appearing on Tuesday at the State College of Florida, Manatee-Sarasota, one of the state’s 28 publicly funded state and community colleges, Mr. DeSantis vowed to turn the page on agendas that he said were “hostile to academic freedom” in Florida’s higher education system. The programs “impose ideological conformity to try to provoke political activism,” Mr. DeSantis said. “That’s not what we believe is appropriate for the state of Florida.”The recently appointed trustees of New College of Florida, Eddie Speir, left, and Christopher Rufo, listened to a question from a faculty member on Jan. 25.Mike Lang/Usa Today Network, via Reuters ConnectHe had already moved to overhaul the leadership of the New College of Florida, a small liberal arts school in Sarasota that has struggled with enrollment, but calls itself a place for “freethinkers.” It is regarded as among the most progressive of Florida’s 12 public universities.Mr. DeSantis pointed to low enrollment and test scores at New College as part of the justification for seeking change there.“If it was a private school, making those choices, that’s fine, I mean, what are you going to do,” he said. “But this is paid for by your tax dollars.”More on America’s College CampusesColumbia’s New President: Nemat Shafik, an economist who runs the London School of Economics, will be the first woman to lead the university.Artificial Intelligence: Amid a boom in new tech tools, the University of Texas at Austin plans to offer a large-scale, low-cost online Master of Science degree program in artificial intelligence.Reversing Course: The Harvard Kennedy School said it would offer a fellowship to a human rights advocate it had previously rejected, a decision that had been linked to his criticism of Israel.U.S. News & World Report: Harvard Medical School will no longer submit data for the magazine’s annual ranking, becoming the university’s second graduate school to boycott the list in recent months.The college’s board of trustees, with six new conservative members appointed by Governor DeSantis, voted in a raucous meeting on Tuesday afternoon to replace the president, and agreed to appoint Richard Corcoran, a former state education commissioner, as the interim president beginning in March.(Because Mr. Corcoran cannot serve until March, the board appointed an interim for the interim, Bradley Thiessen, the college’s director of institutional research.)Mr. Corcoran will replace Patricia Okker, a longtime English professor and college administrator who was appointed in 2021.While expressing her love for both the college and its students, Dr. Okker called the move a hostile takeover. “I do not believe that students are being indoctrinated here at New College,” she said. “They are taught, they read Marx and they argue with Marx. They take world religions, they do not become Buddhists in February and turn into Christians in March.”Patricia Okker, who is being replaced as president of New College.New College of FloridaGovernor DeSantis also announced on Tuesday that he had asked the Legislature to immediately free up $15 million to recruit new faculty and provide scholarships for New College.In all, he requested from the Legislature $100 million a year for state universities.“We’re putting our money where our mouth is,” he said.New College is small, with nearly 700 students, but the shake-up reverberated throughout Florida, as did Mr. DeSantis’s proposed overhaul.Andrew Gothard, president of the state’s faculty union, said the governor’s statements on the state’s system of higher education were perhaps his most aggressive yet.“There’s this idea that Ron DeSantis thinks he and the Legislature have the right to tell Florida students what classes they can take and what degree programs,” said Dr. Gothard, who is on leave from his faculty job at Florida Atlantic University. “He says out of one side of his mouth that he believes in freedom and then he passes and proposes legislation and policies that are the exact opposite.”At the board meeting, students, parents and professors defended the school and criticized the board members for acting unilaterally without their input.Students protesting at New College of Florida in Sarasota on Tuesday.Todd Anderson for The New York TimesBetsy Braden, who identified herself as the parent of a transgender student, said her daughter had thrived at the school.“It seems many of the students that come here have determined that they don’t necessarily fit into other schools,” Ms. Braden said. “They embrace their differences and exhibit incredible bravery in staking a path forward. They thrive, they blossom, they go out into the world for the betterment of society. This is well documented. Why would you take this away from us?”Mr. Corcoran, a DeSantis ally, had been mentioned as a possible president of Florida State University, but his candidacy was dropped following questions about whether he had a conflict of interest or the appropriate academic background.A letter from Carlos Trujillo, the president of Continental Strategy, a consulting firm where Mr. Corcoran is a partner, said the firm hoped that his title at New College would become permanent.Not since George W. Bush ran in 2000 to be “the education president” has a Republican seeking the Oval Office made school reform a central agenda item. That may have been because, for years, Democrats had a double-digit advantage in polling on education.But since the pandemic started in 2020, when many Democratic-led states kept schools closed longer than Republican states did, often under pressure from teachers’ unions, some polling has suggested education now plays better for Republicans. And Glenn Youngkin’s 2021 victory in the Virginia governor’s race, after a campaign focused on “parents’ rights” in public schools, was seen as a signal of the political potency of education with voters.The New College of Florida, a small liberal arts school in Sarasota that has struggled with enrollment, calls itself a place for “freethinkers.”Angelica Edwards/Tampa Bay Times, via Reuters ConnectMr. DeSantis’s attack on diversity, equity and inclusion programs coincides with the recent criticisms of such programs by conservative organizations and think tanks.Examples of such initiatives include campus sessions on “microaggressions” — subtle slights usually based on race or gender — as well as requirements that candidates for faculty jobs submit statements describing their commitment to diversity.“That’s basically like making people take a political oath,” Mr. DeSantis said on Tuesday. He also attacked the programs for placing a “drain on resources and contributing to higher costs.”Supporters of D.E.I. programs and diverse curriculums say they help students understand the broader world as well as their own biases and beliefs, improving their ability to engage in personal relationships as well as in the workplace.Mr. DeSantis’s embrace of civics education, as well as the establishment of special civics programs at several of the state’s 12 public universities, dovetails with the growth of similar programs around the country, some partially funded by conservative donors.The programs emphasize the study of Western civilization and economics, as well as the thinking of Western philosophers, frequently focusing on the Greeks and Romans. Critics of the programs say they sometimes gloss over the pitfalls of Western thinking and ignore the philosophies of non-Western civilizations.“The core curriculum must be grounded in actual history, the actual philosophy that has shaped Western civilization,” Mr. DeSantis said. “We don’t want students to go through, at taxpayer expense, and graduate with a degree in Zombie studies.”The shake-up of New College, which also included the election of a new board chairwoman, may be ongoing and dramatic, given the new six board members appointed by Mr. DeSantis.The board voted to replace Dr. Okker as president. Todd Anderson for The New York TimesThey include Christopher Rufo, a senior fellow at Manhattan Institute who is known for his vigorous attacks on “critical race theory,” an academic concept that historical patterns of racism are ingrained in law and other modern institutions.At the time of his appointment, Mr. Rufo, who lives and works in Washington State, tweeted that he was “recapturing” higher education.Another new board member is Eddie Speir, who runs a Christian private school in Florida. He had recommended in a Substack posting before the meeting that the contracts of all the school’s faculty and staff be canceled.The other new appointees include Matthew Spalding, dean of the Washington, D.C., campus of Hillsdale College, a private college in Michigan known for its conservative and Christian orientations. An aide to the governor has said that Hillsdale, which says it offers a classical education, is widely regarded as the governor’s model for remaking New College.In addition to the governor’s six new appointees, the university system’s board of governors recently named a seventh member, Ryan T. Anderson, the head of a conservative think tank, the Ethics and Public Policy Center, which applies the Judeo-Christian tradition to contemporary questions of law, culture, and politics. His selection was viewed as giving Mr. DeSantis a majority vote on the 13-member board.Jennifer Reed More