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| Presented By American Bankers Association |
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| Axios AM |
| By Mike Allen ·Jun 09, 2021 |
| 🐪 Happy Wednesday! Smart Brevity™ count: 1,167 words ... 4½ minutes. Edited by Zachary Basu. 🚧 Please join Hans Nichols and me today at 12:30 p.m. ET for an Axios virtual event on President Biden's infrastructure plan. Guests include National Economic Council director Brian Deese, Rep. Peter DeFazio (D-Ore.), Rep. Rodney Davis (R-Ill.) and United Airlines CEO Scott Kirby. Register here. |
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| 1 big thing: The world's new Trump |
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| Photo illustration: Aïda Amer/Axios. Photos: Horacio Villalobos/Corbis, Michele Eve Sandberg/Corbis, Tasos Katopodis/Getty Images |
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| On the verge of being replaced after 12 years in power, Israeli Prime Minister Benjamin Netanyahu is waging a desperate, Trump-style campaign to delegitimize the incoming government, Axios from Tel Aviv author Barak Ravid reports. - He's accusing his likely successors of perpetrating "the fraud of the century" and "the biggest election fraud in history."
Why it matters: The situation has become so tense — members of the Israeli Knesset face death threats and demonstrations from angry Netanyahu supporters outside their homes — that the director of Israel's Shin Bet domestic security agency warned of potential political violence. The backstory: Netanyahu failed to form a government after Israel's fourth consecutive election in March. Then Naftali Bennett — a right-wing former Netanyahu protege — cut a power-sharing deal with the "anti-Netanyahu bloc" to become the next prime minister. - Netanyahu initially refused to condemn the incitement against Bennett and his allies. On Monday afternoon, he condemned the violent rhetoric on "every side" — and falsely claimed that the media had refused to cover similar incitement against his family.
- He said the accusations of incitement were a biased attempt to silence the right, and complained that Facebook and Twitter had suspended the accounts of his son and several of his supporters.
The other side: Bennett responded with a speech of his own during the evening news, echoing the tone used by Joe Biden on Jan. 6 and calling on Netanyahu to commit to a peaceful transition of power. - "Mr. Netanyahu, don't leave scorched earth behind you," Bennett said.
While Bennett was speaking, Netanyahu appeared live on the Israeli equivalent of the right-wing One America News channel and called Bennett a "liar" and a "fraud." |
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| 2. Privacy business explodes |
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| Illustration: Eniola Odetunde/Axios |
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| As COVID pushed consumers online in droves, companies from Fortune 500 firms to the corner coffee shop had to grapple with how to legally handle personal data, Axios' Kim Hart writes. - Why it matters: The privacy-tech companies who know how to do it have been raking in the cash, turning what was once a cottage industry into a multibillion-dollar sector.
The average American household has 25 connected devices, ranging from laptops, smartphones and smart TVs to gaming consoles, smart home devices and connected fitness machines, according to a Deloitte connectivity survey out today. - The companies that help others process, maintain, and legally maximize use of all that consumer data are in high demand, according to a Future of Privacy Forum report shared first with Axios.
- Some of the largest players — BigID and OneTrust — have multibillion-dollar market caps on their own.
Keep reading. |
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| 3. Harris returns, Biden departs |
| Vice President Harris boards Air Force Two yesterday at Benito Juárez International Airport in Mexico City. Photo: Carlos Barria/Reuters Vice President Harris returned to Washington early today after her first foreign trip — a Latin America swing (Guatemala, then Mexico) aimed at building hope, so residents feel less compelled to flock to the U.S. border. - "I welcome showing anyone, whatever your race or gender, that you may be the first to do anything, but make sure you're not the last," she said in Guatemala. (AP)
Screenshot: CNN This morning, President Biden and Dr. Jill Biden fly to England for his first overseas trip of the administration. - Biden's eight days of diplomacy end with a summit with Vladimir Putin in Geneva. Biden aims to reassure European capitals that the U.S. will be a dependable partner in thwarting Moscow's aggression on their eastern front, and on their internet battlefields. (AP)
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| A message from American Bankers Association |
| A closer look at Americans' access to banking services |
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| America's 5,000 banks are delivering what it takes to reach communities everywhere. The country's more than 83,000 bank branches—plus increasingly convenient and comprehensive digital services— make it easier than ever to enjoy the many benefits of a bank account. Read ABA's latest. |
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| 4. "Macker" takes next step to mansion |
| Photo: Drew Angerer/Getty Images Above, former Virginia Gov. Terry McAuliffe (D) greets supporters in McLean last night after winning the Democratic primary for the job McAuliffe, known as the "Macker," held from 2014-2018. - McAuliffe, who won every city and county in the commonwealth, now faces Republican candidate Glenn Youngkin, a former private equity executive chosen by a GOP convention last month. (WashPost)
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| 5. Staggering cost of new Alzheimer's drug |
 Reproduced from KFF and Bernstein. Chart: Axios Visuals Biogen's controversial new FDA-approved drug for Alzheimer's, a disease 500,000 Americans are diagnosed with each year, will cost $56,000 annually, Axios health care editor Tina Reed writes. - If half of the newly eligible Americans in a year began treatment with Aduhelm, the cost would be $14 billion — roughly equivalent to Medicare Part B spending in 2019 on the next 8 products combined, per a Bernstein analysis.
Why it matters: It's experts' nightmare drug-spending scenario — an extremely expensive product that millions of desperate patients could be eligible for. And it may not even work. - The numbers alone could give new ammunition to advocates who argue that drug prices are too high and should be limited.
Keep reading. |
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| 6. Nursing homes join scramble for workers |
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| Illustration: Annelise Capossela/Axios |
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| Nursing homes and residential-care facilities lost 2,400 jobs last month, as employers struggle to hire caregivers, Axios' Marisa Fernandez reports. - The big picture: The industry historically has grappled with high employee turnover for its lower-skilled jobs. Now, nursing facilities are facing reputational hits from the pandemic and a red hot market for minimum-wage workers.
As more than 10,000 Americans turn 65 every day, the Bureau of Labor Statistics projects the home health and personal care aide workforce to grow more than 20% by 2029 — the highest in any industry. |
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| 7. Lingo: Board "recycling" |
 Data: Deloitte and the Alliance for Board Diversity. Chart: Will Chase/Axios Corporate boards are getting less white and male, but companies are "recycling" to achieve that, Axios Closer author Courtenay Brown writes. - In some cases, more diversity came "by recycling ... existing Fortune 500 board members rather than bringing in new individuals with different skills, backgrounds, and perspectives," according to a report by Deloitte and the Alliance for Board Diversity.
Share this story. |
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| 8. Mike Bloomberg's new plan to save the world |
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| Photo: Joe Raedle/Getty Image |
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| As the world grapples with the pandemic's impact on globalization, Michael Bloomberg today is unveiling the inaugural members of a new group to focus on solving its biggest problems, Axios managing editor Aja Whitaker-Moore is first to report. - Members of the first Bloomberg New Economy Catalysts cohort span six continents, and will assemble virtually for a kick-off event on June 30 to discuss the future of climate, agriculture, bio-tech, e-commerce, space and digital money.
- Bloomberg's efforts take aim at turf previously dominated by Davos.
Bloomberg was named yesterday in an explosive ProPublica report, "The Secret IRS Files," showing many of the richest Americans pay little income tax compared to their wealth. - In 2018, the report says, Bloomberg paid $70.7 million in income tax on almost $2 billion in income, which would be a 3.7% conventional income tax rate.
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| 9. Le slap |
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| Photo: BFM TV via AP |
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| France President Emmanuel Macron (white shirt) was slapped by the man in the green T-shirt during a visit to Tain-l'Hermitage. - Someone can be heard shouting "Down with Macronism," and a "medieval battle cry associated with fringe right-wingers who want France to return to being a monarchy," Agence France-Presse reports.
The big picture: "The incident took place in a tense and increasingly polarised political climate in France, weeks ahead of regional elections and less than a year before presidential polls." |
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| 10. 1 fun thing: Jimmy Buffett Inc. |
| Courtesy Bloomberg Businessweek Bloomberg Businessweek's cover story dives deep into the post-pandemic dreams of Jimmy Buffett, who expands his empire this week with the opening of Margaritaville Resort Times Square — the latest and most ambitious in an "ever-increasing menu of savage-beast-soothing options": Buffett has always viewed Manhattan as the toughest nut to crack, or perhaps — per his 1973 classic, Peanut Butter Conspiracy — the toughest Jif jar to swipe. He found this true, first as a musician struggling to win gigs early in his career and now as a marketing tycoon betting his beachy cachet will captivate in one of the world's largest cities. The risk reminds him of what an actor friend once told him: "If you don't take New York, Buffett, you ain't shit." Find that lost shaker. |
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| A message from American Bankers Association |
| Expanding access to America's banks |
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| The way Americans bank may be evolving, but brick-and-mortar banking remains a vital part of many communities. With the average person living near 25 branch locations, and increasingly robust digital services for those who prefer to bank remotely, banking services are within reach of everyone. |
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