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Five things you need to know today, plus robots, Red Sox and King James
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LeBron James has just opened up some exciting new Liverpool possibilities
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The federal bailouts sought by C.E.O.s like Doug Parker of American Airlines saved jobs but at a high cost.Credit.Chip Somodevilla/Getty Images
Socializing losses, privatizing gains
Major U.S. airlines have received more than $50 billion in grants in multiple rounds of taxpayer-funded bailouts during the pandemic. As travel begins to rebound and the stock market cruises to record highs, Andrew asks in his latest column: Was the rescue worth it?
The good news: The bailouts probably saved as many as 75,000 jobs and kept the airlines from declaring bankruptcy.
The bad news: Taxpayers probably overpaid, with the original grant of $25 billion implying that each job cost the equivalent of more than $300,000. (That price grew with subsequent bailouts.)
LeBron James opens up on pride over partnership with Liverpool owners FSG
The LA Lakers star and Liverpool fan recently became a partner at FSG alongside his business associate Maverick Carter
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Sources -- LeBron James becomes part owner of Boston Red Sox, joins Fenway Sports Group as partner
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