California Weighs Shift To 32-Hour Work Week For Larger Companies

Assembly member Cristina Garcia has cosponsored a bill to make the state’s official workweek 32 hours for companies with 500 or more employees. CBS News reports: Any work done past that cutoff would come with a hefty raise: Employers would be required to pay time-and-a-half to workers whose hours run over 32 a week. And work stretching past 12 hours a day or into seven days a week would be paid at double the normal wage. Employers subject to the law, which would apply to 20% of California’s workforce, also would be barred from reducing people’s pay if they work less than their standard workweek, Garcia told CBS News. The bill would not apply to workers who are represented by a union and covered by a collective bargaining agreement.

The proposed law would cover about 2,600 companies in California, according to the Employment Development Department (PDF). The California Chamber of Commerce called it a “job killer,” saying it would make hiring more expensive and lead to a drop in jobs in California. “Labor costs are often one of the highest costs a business faces,” Ashley Hoffman, policy advocate with the Chamber, wrote to bill cosponsor Evan Low last week. “[B]usinesses often operate on thin profit margins and… the number of employees you have does not dictate financial success,” she wrote.

Read more of this story at Slashdot.

The US Is Now Energy Independent

The U.S. produced more petroleum than it consumed in 2020, and the numbers were essentially in balance in 2021, according to the Energy Information Administration. Axios reports: The surge in oil prices taking place in 2022 has radically different implications for the U.S. economy — and for key geopolitical relationships in the Middle East and Russia — than in past episodes when energy prices have risen. In the past, when oil prices spiked, the impact on the U.S. economy was straightforward: It made America poorer, as more of our income went overseas to pay for imported energy. Now, after the shale gas revolution of the last 15 years, the impact is more subtle. Higher fuel prices disadvantage consumers and energy-intensive industries, yes. But there is a counteracting surge in incomes for domestic energy producers and their workers. Higher oil prices no longer depress overall measures of prosperity like GDP and national income, but rather shift it around toward certain regions. Texas and North Dakota win; Massachusetts and North Carolina lose.

As recently as 2010, America imported 9.4 million barrels a day of oil more than it exported. That had swung to a 650,000 barrel per day surplus in 2020, and preliminary numbers for 2021 show trade pretty much in balance last year. To the degree the U.S. does still import oil, more of it is coming from our closest ally. Canada was the source of 51% of U.S. petroleum imports in the first 10 months of 2021, compared with 8% from the Persian Gulf. By contrast, the Gulf states supplied more than 30% of American petroleum imports in 2008.

Read more of this story at Slashdot.

US Nuclear Power Plants Contain Dangerous Counterfeit Parts, Report Finds

At least some nuclear power plants in the US contain counterfeit parts that could pose significant risks, an investigation by the inspector general’s office of the Nuclear Regulatory Commission has found. Those parts “present nuclear safety and security concerns that could have serious consequences,” says the resulting report (PDF) published on February 9th. The Verge reports: The investigation was conducted after unnamed individuals alleged that “most, if not all,” nuclear plants in the US have fake or faulty parts. The inspector general’s office uncovered problems with counterfeit parts at a few different plants as part of its investigation. The report also says that the DOE had separately flagged 100 “incidents” involving counterfeit parts just last year. It’s a problem that the US will have to crack down on if it moves forward with plans to include nuclear power in its transition to clean energy. Without greater oversight at the NRC, the report warns, the risk of counterfeit parts going unnoticed in the nation’s nuclear power plants could rise.

As part of its inquiry, the inspector general’s office looked for parts that are illegally altered to look like legitimate products, parts that are “intentionally misrepresented to deceive,” and parts that don’t meet product specifications. It sampled four power plants across the US and found evidence of counterfeit parts at one of those plants in the midwest. It also points to nuclear power plants in the Northeast, separate from those it sampled, where a “well-placed NRC principal” found that counterfeit parts were involved in two separate component failures.

The NRC might be underestimating the prevalence of counterfeit parts, the report warns, because the regulatory agency doesn’t have a robust system in place for tracking problematic parts. It only requires plants to report counterfeits in extraordinary circumstances, like if they lead to an emergency shutdown of a reactor. The report also notes that the NRC hasn’t thoroughly investigated all counterfeit allegations. There were 55 nuclear power plants operating in the US as of September 2021, and the inspector general’s office sampled just four for its report. NRC Public Affairs Officer Scott Burnell told The Verge in an email that “nothing in the report suggests an immediate safety concern. The NRC’s office of the Executive Director for Operations is thoroughly reviewing the report and will direct the agency’s program offices to take appropriate action.”

Read more of this story at Slashdot.

Congress’s Big Tech Stock Stakes Make Regulation Awkward

A proposed antitrust bill has cast a spotlight on the immense portfolios of dozens of lawmakers. From a report: At a December press conference, House Speaker Nancy Pelosi was asked her opinion of proposed restrictions on stock trading by members of Congress. Her response was quick and clear: She hated the idea. “We are a free-market economy,” Pelosi, whose family’s shareholdings exceed $100 million, shot back. “They should be able to participate in that.” Growing numbers of legislators from both sides of the aisle disagree. Following a series of recent abuses, at least five bills making their way through Congress would forbid lawmakers from owning individual stocks or force them to move their assets into a blind trust. One would make violators turn over any profits they earn to the U.S. Treasury Department. Another would extend the ban to family members. A third would also encompass top staffers.

[…] The fight over the measure highlights the potential conflicts of interest in lawmakers’ shareholdings. A Bloomberg Businessweek examination of financial filings found that at least 18 senators and 77 House members report owning shares of one or more of the companies, and the law could have a significant effect on the value of their portfolios. Pelosi disclosed that her husband has as much as $25.5 million in Apple stock alone. Republican Representative Mike McCaul of Texas reported that his family holds shares of all four tech giants, with a collective value topping $8 million. Last year members of Congress filed more than 4,000 trading disclosures involving more than $315 million of stock and bond transactions, according to Tim Carambat, a researcher who maintains databases of lawmakers’ financial trades.

Read more of this story at Slashdot.

US To Hold Largest-Ever Offshore Wind Farm Auction Next Month

The US government announced Wednesday it will auction more than 480,000 acres off the coasts of New York and New Jersey to build wind farms as part of its campaign to supply renewable energy to more than 10 million homes by 2030. Tech Xplore reports: Offshore wind developers will bid February 23 on six areas in the New York Bight — the most lots ever offered in a single auction — which could generate between 5.6 to seven gigawatts of energy, enough to power two million homes, the Interior Department said. The auction will be the first under President Joe Biden, whose administration aims to build as many as to seven major offshore wind farms and review plans for at least 16 others along the US coasts. The effort is part of Washington’s fight against climate change, and the Biden administration says the wind investment would cut 78 million tons of carbon dioxide emissions and create tens of thousands of jobs.

Read more of this story at Slashdot.

SF Millennium Tower Tilts Quarter Inch In Four Days

Newly released monitoring data shows that San Francisco’s Millennium Tower tilted a quarter inch during the four days it took to install the first test pile to bedrock last month. From a local report: The monitoring data tracks settlement, tilting and water pressure levels underneath the sinking and leaning structure since work began on a fix for the troubled tower in May. Since work began to shore the sinking structure up on the north and west sides, the building has settled nearly 2 inches at the northwest corner and is now tilting more than two feet at that edge. The latest data — including the four days that the test pile was installed from Nov. 15 to Nov. 19 — shows a quarter inch of new tilt, as well as a tenth of an inch of settlement at the time the test installation occurred. At the same time, there was marked fluctuation of water pressure below the foundation on the Mission Street side of the structure.
[…]
Still, Ron Hamburger, the fix designer, recently assured city officials that the settlement that has occurred during testing of new methods designed to limit sinking is within expected levels. Hamburger now has city permission to install two more test piles. Hamburger told city officials the additional testing is needed to help determine just how many piles will ultimately be used to shore up the structure.

Read more of this story at Slashdot.

Centrist Dems Sink Biden’s Nominee for Top Bank Regulator

Five Democratic senators have told the White House they won’t support Saule Omarova to head the Office of the Comptroller of the Currency, effectively killing her nomination for the powerful bank-regulator position. Axios: The defiant opposition from a broad coalition of senators reflects the real policy concerns they had with Omarova, a Cornell University law professor who’s attracted controversy for her academic writings about hemming in big banks. Their opposition also hints at a willingness of some Democratic senators to buck the White House on an important nomination, even if it hands Republicans a political — and symbolic — victory.

Republicans have attacked the Kazakh-born scholar in remarkably personal terms, and turned her nomination into a proxy battle over how banks should be regulated.
Driving the news: In phone call on Wednesday, Sens. Jon Tester (D-Mont.) Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.), all members of the Senate Banking Committee, told Sen. Sherrod Brown (D-Ohio) — the panel’s chairman — of their opposition. They’re joined in opposing her by Sens. John Hickenlooper (D-Colo.) and Mark Kelly (D-Ariz.).

Read more of this story at Slashdot.

US Joins Global Cybersecurity Partnership

The U.S. is now part of an international agreement on cybersecurity that the Trump administration declined to sign up for, Vice President Kamala Harris announced in Paris Wednesday. From a report: 80 countries, along with hundreds of tech companies — including Microsoft and Google — nonprofits and universities have signed the Paris Call for Trust and Security in Cyberspace, established in 2018 to create international norms and laws for cybersecurity and warfare. The U.S. support of the voluntary Paris Call reflects the Biden administration’s “priority to renew and strengthen America’s engagement with the international community on cyber issues,” per a White House statement.

It builds on U.S. efforts to improve cybersecurity for citizens and businesses, the statement continued. This includes “rallying G7 countries to hold accountable nations that harbor cyber criminals, supporting the update of NATO cyber policy for the first time in seven years, and the recent counter-ransomware engagement with over 30 countries around the world to accelerate international cooperation to combat cybercrime.”

Read more of this story at Slashdot.