Wednesday, May 29, 2024

bloomberg day


The former chief executive of FTX’s Bahamas subsidiary was ordered to serve 7 1/2 years in prison, the first of Sam Bankman-Fried’s close associates to be sentenced in the wake of the cryptocurrency exchange’s implosion. Ryan Salame dropped his head as Judge Lewis A. Kaplan sentenced him in a Manhattan courtroom Tuesday, eight months after he reached a plea deal with federal prosecutors over the multibillion dollar collapse of FTX. While he was not accused of helping Bankman-Fried steal about $10 billion from customers, investors and lenders, Salame’s efforts to circumvent campaign donation laws jeopardized the stability of political life in the US, Kaplan found. The prison term is more than prosecutors had asked for.

Ryan Salame Photographer: Stephanie Keith/Bloomberg

Affordable luxury finally arrives in the City of Light.

Hôtel Dame des ArtsPhotographer: LUDOVIC BALAY

Until now.


In Paris, a great meal can consist of a baguette, some brie and fresh figs—€8 ($8.65), tops—or a three-Michelin star, €500 tasting menu. While you’d think the same would be true of hotels, the city has never quite perfected affordable stays.

Best New Hotels in Paris Are (Relatively) Cheap

In Paris, a great meal can consist of a baguette, brie and fresh figs—or a three-Michelin star restaurant, with the difference being about 500 euros. While you’d think the same would be true of hotels, the city has never quite perfected affordable stays. But now it seems a new clutch of boutique hotels are changing the old dynamic. During the past year or two, they’ve proved that you don’t have to sacrifice on location, air conditioning or square footage to get a good deal. Despite their starting prices—all under $550 per night—they may be leading the charge when it comes to such perks as great restaurants and fresh design across Paris.

Deluxe Vue at Madame Rêve in Paris Photographer: Jerome Galland/Madame Rêve

The real Payne


Payne Stewart


The real Payne Stewart, 25 years later

May 28, 2024

Stephen Dunn

When a golf fan thinks of Payne Stewart, it's likely that two events come immediately to mind, in some order. The first is his uplifting triumph, at age 42, in the 1999 U.S. Open at Pinehurst. The second is his death, just a few months later, aboard a Learjet 35 airplane that eventually crashed in a wheat field in Mina, South Dakota.

The first line of Kevin Robbins' "The Last Stand of Payne Stewart" describes the latter event: "The ghost plane lost its right engine first and banked gently to the east as if preparing an approach to land." Those words, "ghost plane," are chosen with care, and signify the fact that contrary to what you might remember, or even read, Stewart did not technically die in a plane crash. He, his three guests, and the two pilots aboard the Learjet all died of hypoxia, a lack of oxygen, shortly after the plane left Orlando for Dallas. The mechanisms of what went wrong—how the cabin lost air pressure—are still unknown, but as military planes "escorted" the ghost plane over its four-hour journey into the midwest, what was abundantly clear is that nobody inside was living. The plane moved on, finally crashing when it ran out of fuel.

It was a tragic end for one of the great golfers of his generation, and also an eerie one. It also has a way of turning the story of Stewart, already remarkable, into legend, and perhaps making it harder to know the real person.


Al Tielemans

The '90s were a transformative time for Stewart, and he entered that fated decade by winning the last major of 1989, the PGA Championship. His surge on the back nine at Kemper Lakes put an end—or at least a pause—to the idea that he couldn't finish, which was a reputation that had been building since his career began. Stewart was a good-looking man of considerable personal charm, but he could also come across, as Robbins put it, as "abrasive, churlish, self-absorbed" in his worse moments. He wasn't the most popular player on Tour, and some thought his behavior at the '89 PGA, an ill-timed exuberance in the face of a collapse by Mike Reid, worsened his reputation. The '90s started out promisingly on the course, and he captured his second major at the '91 U.S. Open, but a lucrative equipment contract sent him into a slump, and he hit a low point in 1994, when poor play and wavering focus resulted in the worst year of his career.

To come back from that nadir, Stewart needed not to just battle his demons, but to find a maturity he had never needed before, at least in golf. It was the fight of a lifetime, and it yielded not only a new perspective, but his greatest professional moment yet—out-dueling both Tiger Woods and Phil Mickelson to win a legendary, grinding U.S. Open at Pinehurst.

In this week's Local Knowledge podcast, we take a close look at Stewart, his prowess and his flaws, and how everything came together in North Carolina 25 years ago in one of his last great acts.