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Federal Judge Rules Race-Based Portion Of Houston Program Unconstitutional
Authored by Kimberly Hayek via The Epoch Times,
A federal judge on Tuesday permanently barred the city of Houston from enforcing the race-based parts of a program that includes numerical goals for awarding public contracts to minority-owned businesses, ruling that doing so is in violation of the equal protection clause of the 14th Amendment.
A judge's gavel, in this file photo. Andrew Kelly/ReutersU.S. District Judge David Hittner described his decision as the first to extend the U.S. Supreme Court's 2023 ruling against race-conscious college admissions to municipal public contracting programs. He found Houston could not justify treating businesses differently due to the race of their owners.
"The public interest favors a permanent injunction because there is no public interest in permitting the government to continue enforcing an unconstitutional race-based policy," Hittner wrote in his findings of fact and conclusions of law.
Landscape Consultants of Texas Inc. and Metropolitan Landscape Management Inc., two Spring-based landscaping firms owned by Jerry and Theresa Thompson, a white married couple, filed the original lawsuit in September 2023. They were represented by Pacific Legal Foundation. In their filing, they argued Houston's Minority, Women, and Small Business Enterprise Program, as well as a similar policy at the Midtown Management District, precluded them from opportunities due to their race.
"Equal protection means equal protection for everyone, not preferential treatment for some," Erin Wilcox, a lawyer for the plaintiffs at the Pacific Legal Foundation, said in a statement. "The Fourteenth Amendment guarantees every business owner the same shot at a government contract, regardless of race."
Houston City Attorney Arturo Michel said the city may appeal.
"The city will abide by the court's decision regarding existing contracts and recently awarded contracts pending any further court order," Michel said.
The program requires the city to establish annual goals for contracts going to minority-owned businesses. It also allows departments to impose contract-specific goals.
Non-minority firms were often required to subcontract a percentage of work to certified minority-owned businesses even if they had no operational need to subcontract. Minority-owned firms could fulfill the requirement with their own workers.
Hittner held a four-day bench trial in December 2025, ultimately concluding that under the Supreme Court's framework in Students for Fair Admissions Inc. v. Harvard, government may use race only to remedy specific, identified past discrimination.
"Houston is required to identify concrete, particularized discrimination and demonstrate that its use of race is necessary to remedy that discrimination," Hittner said. "Houston has not done so."
Hittner noted the city's own expert witness testified that a 2024 disparity study commissioned by the city identified no specific instances of intentional discrimination by Houston officials or employees in recent years. The city had not disciplined anyone for contracting discrimination in the previous five years and found no particular constitutional or statutory violations.
Hittner limited the injunction to the race-conscious guidelines. Preferences based on gender or small-business status were not struck down. The order also applies to the Midtown Management District's parallel policy.
Reuters contributed to this report.
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Apple Tumbles On China, Service Revenue Miss
The Thursday rebound in the Nasdaq 100 - largely on the coattails of Microsoft and the expectations that further liquidations by that 25 year old Leopold guy are over - has been powerful, though much of the urgency has come from the same high-beta corners punished hardest during the semiconductor rout. That helps stabilize the tape, but it doesn’t resolve concerns around capex spend or Chinese chip capabilities. Amazon speaks directly to the hyperscaler debate through AWS and spending plans. And while Apple is not at the center of concerns about hyperscaler spreads, at nearly $5 trillion in market cap, its results carry enough weight to shape sentiment across a market short on conviction.
Consensus looks for Apple revenue growth of roughly 16% to nearly $109 billion, with the iPhone cycle and services doing the heavy lifting. The broader read-through is whether consumer demand remains firm, whether margins can absorb tariff and chip-cost pressure, and whether one of the world’s largest companies can still generate enough growth to support the premium embedded across mega-cap tech. A set of strong reports would give the rebound something more credible than short covering, even if it leaves the sector’s structural concerns intact.
There’s also some ceremony to the moment. Tim Cook’s final earnings call closes an extraordinary chapter before John Ternus takes the baton, but as Bloomberg's Brendan Fagan notes, nostalgia will not carry the stock or the broader sentiment.
With that in mind, here is what Apple reported for the recently concluded June 30 (fiscal Q3) quarter:
- EPS $2.02 vs. $1.57 y/y, beating estimates of $1.89
- Revenue $109.42 billion, +16% y/y, beating estimates of $108.85 billion
- Products revenue $78.68 billion, +18% y/y, beating estimate $77.25 billion
- IPhone revenue $54.25 billion, +22% y/y, beating estimate $53.6 billion
- Mac revenue $10.35 billion, +29% y/y, beating estimate $8.62 billion
- IPad revenue $6.19 billion, -5.9% y/y, missing estimate $6.89 billion
- Wearables, home and accessories $7.88 billion, +6.5% y/y, beating estimate $7.87 billion
- Services revenue $30.74 billion, +12% y/y, missing estimate $31.36 billion
Broken down by product:
... we see that Apple is in desperate need of a new revenue stream: even Services is now rolling over while the rest is a melting ice cube mess, and once AAPL's price hikes kick in, sales will crater.
Mac sales beat expectations as pent up demand for the M5 MacBook Air, M5 Pro/Max MacBook Pro and of course the hot-selling MacBook Neo, should resulted in a big beat. The question is what is the margin on these products now that their components as much, much more expensive.
Yet one place where revenue unexpectedly missed was Apple's heretofore Golden calf, namely Services, which unexpectedly came light by almost $1 billion to estimates, rising just 12% to $30.74 billion, and missing estimate $31.36 billion. Since this is the highest margin product line, any slowdown here will set off alarm bells for the bulls.
Taking a closer look at the Geographic breakdown, China stood out because after several quarters of solid growth (after several years of disappointment) revenues missed again (along with Japan this time):
- Greater China rev. $18.82 billion, +22% y/y, missing estimate $19.58 billion
- Americas rev. $45.78 billion, +11% y/y, beating estimate $45.42 billion
- Europe revenue $29.40 billion, +22% y/y, beating estimate $27.58 billion
- Japan revenue $6.55 billion, +13% y/y, missing estimate $7.49 billion
- Rest of Asia Pacific revenue $8.87 billion, +16% y/y, beating estimate $8.71 billion
Here results were a mirror image of last quarter, when the US missed but was more than offset by Chinese sales; this time it's China (and Japan) that missed, in what appears to be another major slowdown in Chinese sales growth.
Putting it all together, it appears that the stock which in recent weeks was priced to perfection - and as a FCF positive substitute to the rest of the AI complex - is getting hit on the Service revenue and China miss. As Bloomberg puts it, "though total revenue topped estimates, the China sales amounted to $18.8 billion in the fiscal third quarter, well short of the $19.6 billion estimated by analysts. Revenue from services was $30.7 billion, compared with a $31.4 billion projection."
Apple’s progress in China has been closely watched by investors and analysts as it recovers from a downturn in that country. The company is still growing in the market, but hasn’t bounced back as quickly as some were looking for, and as shown above, the growth rate is rapidly slowing... again.
Apple also has been struggling with shortages of memory chips and computer processors, a situation that forced the company to raise prices on Macs and iPads last month. The supply crunch has led to extended wait times on key computers like the Mac mini and Mac Studio. Once the new iPhone hits the street with a price some 20% higher, watch for total sales to tumble.
Elsewhere, this quarter serves as a swan song of sorts for CEO Tim Cook, who will hand the reins to hardware head John Ternus on Sept. 1. Cook, Apple’s leader since 2011, diversified the product lineup and increased annual sales to nearly half a trillion dollars.
AAPL stock had been up 23% this year heading into the results, outpacing many tech peers. Apple reclaimed its title as the world’s most valuable company in recent days - overtaking Nvidia - in part because it’s seen as a safe haven from runaway AI spending. The company has a current market value of almost $5 trillion, although it is now again below that after the slide after hours.
The company also is making some changes to how it offers products. On Tuesday, it rolled out a device leasing program called Apple Upgrade, allowing users to essentially subscribe to iPhones, iPads and Macs and trade them in at the end of their lease terms. The program, which resembles car leasing, will likely mitigate the recent price increases for many buyers.
Apple stock slumped more than 4% in after hours action, offsetting some of the surge in Amazon stock.
Tyler Durden Thu, 07/30/2026 - 17:25Mike Golic, Mike Greenberg ‘don’t keep in touch much’ after ugly end to ESPN radio show
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'We Won Completely': Weinstein Says COVID 'Conspiracy Theorists' Were Totally Vindicated
Not so long ago, everything below was a bannable offense - usually based on the vapid logic of some 24-year-old "trust & safety" associate. In a clip circulating Thursday, evolutionary biologist Bret Weinstein takes stock of what the dissidents actually won for their trouble, Vigilant Fox reports.
WEINSTEIN: "We live in two worlds simultaneously at the moment. I remember conversations that I had with people I cared deeply about at the beginning of COVID right as the lab leak story was beginning to crack."
Bret Weinstein explains how the COVID conspiracy theorists were proven right about everything and it doesn't matter.
WEINSTEIN: "We live in two worlds simultaneously at the moment. I remember conversations that I had with people I cared deeply about at the beginning of COVID... pic.twitter.com/DFyBy6i2DH
"What I saw was, actually, I think we're going to win the lab leak story. We're not yet winning the vaccine story, and we're way behind on the repurposed drug story.
"In 2026, here's what we see. We actually won. Completely. All of these things are now visible to anybody who wishes to see them.
Yet, while hearts and minds were won and 'conspiracy theorists' vindicated, we have a limp dicked government that won't hold anyone's feet to the fire.
"And we've lost completely. Our capacity to do anything about this is now on full display. We have none."
"Your ability to simply get the story clear enough and enough evidence on the table does not have an impact on what happens next.
"We're still apparently dispensing these frickin shots. How crazy is that? Right after all that we have unearthed, after all the people who lost their careers to unearth this stuff, they're still dispensing the frickin shots."
WEINSTEIN: "We need to figure out now how to talk to the people who actually have goodness in their hearts, but are still so desperately confused.
"You have to figure out how to approach them with enough generosity of spirit that you can get them over the line to just seeing. You can get them to take off the blindfold."
h/t Modernity.news
Tyler Durden Thu, 07/30/2026 - 17:20House Democrats Expand Midterm 'Red To Blue' Target Map To 30 Seats
Authored by Chase Smith via The Epoch Times (emphasis ours),
The Democratic Congressional Campaign Committee (DCCC) added five more seats to its Red to Blue program on July 28, and the National Republican Congressional Committee (NRCC) responded the same day with a separate statement criticizing each of the five Democratic candidates.
The U.S. Capitol on June 16, 2026. Madalina Kilroy/The Epoch TimesThe expansion brings the program to 30 seats. Red to Blue candidates receive strategic guidance, staff resources, training, and fundraising support from the committee, according to the DCCC’s announcement. The committee said candidates qualify by surpassing goals for grassroots engagement, local support, campaign organization, and fundraising.
“In less than 100 days, Democrats will take back the House majority and it will be powered by our incredible candidates such as the five named to Red to Blue today,” DCCC Chair Rep. Suzan DelBene (D-Wash.) said in the release.
“Whether in suburban, rural, or redistricted seats, the American people have soured on Republicans’ broken promises and failure to lower costs. Voters are outraged by higher prices on everything and a war of choice spiraling out of control. They are eager for change and new leaders who will fight for them, not be a rubberstamp for Donald Trump.”
The five are Amish Shah in Arizona’s First District, Pia Dandiya in Florida’s 22nd, Lindsay James in Iowa’s Second District, Jake Johnson in Minnesota’s First, and Sam Forstag in Montana’s First.
The DCCC described Shah as an emergency room physician and former state representative who has already represented part of the district in the Arizona House.
Dandiya is a former teacher and high school principal from Palm Beach County. Both parties hold their Florida primaries on Aug. 18. Dandiya faces a contested Democratic field, with a challenge from Kaysia Earley. The DCCC’s endorsement puts the committee behind her before the election.
Florida’s 22nd District is currently held by Rep. Lois Frankel (D-Fla.), who is running in the new 23rd District this fall following redistricting.
James is a Presbyterian minister, former chaplain, and Iowa state representative running for an open seat against Republican Joe Mitchell, whom the DCCC release called a career politician and lobbyist.
Johnson is a public school math teacher and union leader challenging Rep. Brad Finstad (R-Minn.).
Forstag is a U.S. Forest Service smokejumper and vice president of National Federation of Federal Employees Local 60, running for the seat Rep. Ryan Zinke (R-Mont.) is leaving.
The DCCC release said Forstag organized against staffing cuts at public land agencies and described Republican nominee Aaron Flint as Zinke’s hand-picked successor.
The NRCC issued five statements within hours, one for each candidate. The statements largely characterized the candidates as too liberal for their districts.
NRCC spokesperson Ben Petersen noted for the Arizona race that the DCCC backed Shah’s opponent in the primary and that Republicans there are consolidating behind nominee Jay Feely. The DCCC did back Shah’s opponent in the Arizona primary but later endorsed Shah after he won.
NRCC spokeswoman Emily Tuttle referenced a Fox News report that James missed more than half of her votes in the Iowa House over the past year. Her campaign responded to that report at the time in a statement saying, “Lindsay has always fought for Iowa families, taking on corporate greed and predatory landlords and writing the bill to cap the cost of insulin.”
Tyler Durden Thu, 07/30/2026 - 17:00