Daily Archives: January 27, 2020

Tesla to $6,000 and SpaceX to the Moon? – Yahoo Finance

Posted: January 27, 2020 at 12:53 am

Did you hear the one about the investor who just raised her price target on Tesla TSLA shares from $4,000 to $6,000 by 2025? In the video, I tell you her name and firm and exactly why she's so bullish. The answer may surprise you as much as it did me.

I also remind investors that fund manager and early Tesla bull Ron Baron predicted in 2017 that the stock would hit $1,000 by this year. Baron suffered some volatile fluctuations in his investment's value since then, but in an interview with Becky Quick on CNBC last August, he revealed his steadfast bullish commitment despite Elon Musk's "self-inflicted wounds."

Baron believes that Tesla, with its diverse renewable energy focus, wide and growing appeal for excellent cars, and international expansion could hit $1 trillion in revenues by 2030.

His Baron Capital still owned more than 1.6 million shares of Tesla valued at $360 million at the time when the stock was trading near $225. Tesla was then Barons 13th largest holding, down from eighth in 2018, but Baron said the decline was due to value depreciation, not the firm selling shares.

In the Q3 shareholder letter from Baron Partners Fund in November, here was the update from Ron...

"Teslas stock stabilized as investors build conviction around Model 3 demand trends and expanding margins. Teslas China factory is ahead of schedule, and investors anticipate the Model Y will positively impact the companys P&L. We continue to expect significant value creation for Teslas stakeholders."

And to learn more about the market psychology of TSLA stock, where investors had learned to doubt Elon Musk's projection of at least 350,000 car deliveries in 2019 -- which he surprisingly delivered on -- check out my colleague Dan Laboe in his latest edition of The 4th Revolution.

What SpaceX Success Means for Tesla

Next in the video, I go over my bull case for TSLA based on it being a completely different kind of car company -- truly a technology company as the boss of Volkswagon conceded recently -- where traditional valuation metrics don't apply to its brand of growth.

One of my arguments is that Musk surrounds himself with the best engineering talent in the world and this was proven once again on Sunday January 19 when his SpaceX successfully tested the emergency rocket abort for its Dragon crew capsule.

The test, conducted jointly with NASA, was a necessary milestone before astronauts are given the green light for crewed missions. In the post-test press conference, Musk, Jim Bridenstine, Administrator of NASA, and Kathy Lueders, manager of NASA's Commercial Crew Program all affirmed the importance of this milestone as a big step towards reigniting America's space efforts.

In the video, I also show a book by SpaceX mission manager Andrew Rader which is a really fun, can't-put-down read covering the history of exploration from ancient mariners up to modern astronauts. Rader holds a PhD in aerospace engineering from MIT specializing in long-duration spaceflight and you can tell he is as passionate about the goals of SpaceX as its founder.

Incidentally, last week in my video and related article Virgin Galactic Stock Takes Off Before SpaceX and Blue Origin I explained why, despite all this great momentum, SpaceX wouldn't being doing an IPO any time soon. The article accompanying that video also goes into some detail about the different approaches and progress of each space enterprise and their "birds," including Amazon AMZN founder Jeff Bezos and his independently-funded Blue Origin.

What's Really Launching Virgin Galactic?

Last week I did my weekly video (link above) and podcast on exciting things happening with the private space transport and exploration companies SpaceX and Blue Origin. I also took a close look at Virgin Galactic SPCE after its blistering rally of over 120% since early December.

As of today (Jan 22), SPCE is up another 20%+ this week for a total return over 171% since December 8 when it closed at $7.26. What ignited the launch back then -- was it the $20 million investment from Boeing BA? I think that helped, but I finally found the real culprit.

On December 9, Morgan Stanley analyst Adam Jonas initiated coverage of the company with a $22 price target as he sees the greatest value potentially coming from hypersonic travel more than leisure space travel.

Hypersonic point-to-point (P2P) air travel will be what Jonas called "the third phase of the Virgin Galactic business model" referring to the company's three-phase plan outlined during public investor presentations last year. "A viable space tourism business is what you pay for today, but a chance to disrupt the multi-trillion-dollar airline TAM is what is really likely to drive the upside," Jonas speculated.

Think of traveling 50% faster than the Concorde, with flights between San Francisco and London in under 3 hours.

The analyst summed up his view of the investment opportunity under $10 this way: The shares feature biotech-type risk/reward where todays space tourism business serves as a funding strategy and innovation catalyst to incubate enabling tech for the hypersonic P2P air travel opportunity."

This big optimism from the Morgan Stanley analyst certainly explains part of the massive stock rally in SPCE. Three other elements should be noted though: (1) Virgin Galactic is the only public pure-play space transport and exploration company, and thus getting all the stock market love; (2) a low share price attracted lots of retail buyers with visions of doubling and tripling their money; (3) the hypersonic travel "call option" value of the company is probably at least 5 years away.

The analyst's $22 price target factors in $10 per share in value for space tourism and $12 per share for the hypersonic opportunity that are part of Virgin Galactic's long-range business plans. Jonas forecast $800 billion in annual sales for hypersonic travel by 2040 and further juxtaposed the tourism model (see Earth from space) and the speedy travel model (get around Earth faster)...

"While some investors have described high-speed hypersonic P2P air travel opportunity as the icing on the cake, we see Hypersonic as both the cake and the icing, with Space Tourism as the oven."

Big Global Space Goals: ISS, the Moon, Then Mars

While Branson & Co. are using space tourism to build a bridge to hypersonic air travel, Musk and Bezos with Blue Origin are looking to be reliable transport of cargo and people to the International Space Station (ISS). In his October key note, Bezos emphasized that we must get back to the moon quickly for the next stages of building a space program that can manufacture and test in 1/6 of Earth's gravity. This will be essential for eventual travel to and base-building on Mars.

But back to Virgin Galactic's tourism dreams, "the oven" hasn't even started heating up yet, even though over 600 customers have already bought their seats on the six-passenger SpaceShipTwo at an average cost between $200K and $250K. Tickets first went on sale in 2004 for $200,000 when Branson said commercial operations would begin within three years.

In 2013, tickets went up to $250,000 but an accident in 2014 where a pilot was killed set the program back. Seven years later with no passenger flights yet, some have asked for refunds.

But Virgin Galactic expects to begin flying its first space tourism customers in 2020. Morgan Stanley's Jonas estimates VG can ramp its flight offerings to serve more than 3,000 passengers by 2030. Another estimate that might mean nothing with all the variables involved.

Still it's the social and wealth trends that Jonas is banking on. "The addressable market for space tourism, while niche, is supported by a range of industries, including yacht charters and luxury cars."

"Space Tourisms goal over the next year: be safe, stay funded, he wrote in his research report. We believe the key catalyst over the next 12 months will be sending even one customer to space and returning safely.

Competition and Cooperation in Space

That feat will indeed amaze the world and build wider enthusiasm for all space programs, including SpaceX and Blue Origin. Something that NASA Administrator Bridenstine emphasized after the Crew Dragon abort test Sunday was that his goal has always been "dissimilar redundancy."

This means he wants NASA to rely on several providers of aerospace excellence and reliability. This may eventually include the space projects of Alphabet GOOGL founder Larry Page.

The NASA and SpaceX partnership is a great early example of what's possible when private enterprise (and wealth) takes the initiative in space science and engineering and gets full cooperation from government agencies. This will only encourage more space entrepreneurs to build their visions.

And in a time of rising global mistrust between nations, the International Space Station and its 15 member countries stands as a symbol of unity that only science and shared knowledge can create.

Story continues

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Tesla to $6,000 and SpaceX to the Moon? - Yahoo Finance

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First cookies baked in space oven by astronauts – The Nation

Posted: at 12:53 am

WASHINGTON-Chocolate chip cookies have become the first food to be baked in space in a first-of-its-kind experiment.

Astronauts baked the cookies in a special zero-gravity oven at the International Space Station (ISS) last month.

Sealed in individual baking pouches, three of the cookies returned to Earth on the SpaceXDragon spacecraft on 7 January.

The aim of the experiment was to study cooking options for long-haul trips.

The results of the experiment, carried out by astronauts Luca Parmitano and Christina Koch, were revealed this week.

A spokesman for Double Tree, the company that supplied the dough, told the BBC the cookies would soon undergo additional testing by food science professionals to determine the final results of the experiment. These tests will establish whether the cookies are safe to eat.

For the experiment, five cookies were baked over several days to determine the ideal cooking temperature and time.

On Earth, it takes about 20 minutes to bake cookies at a temperature of around 150C (300F). The astronauts found that, in space, it takes far longer.

The first cookie - baked for 25 minutes - was undercooked, but the second - baked for 75 minutes - released a fresh scent in the ISS.

The fourth and fifth cookies - one baked for 120 minutes and left to cool for 25 minutes, and the other baked for 130 minutes and left to cool for 10 minutes - were deemed to be the most successful.

The aim of the experiment was to test cooking options for long-haul space trips

As the cookies were baking, Mr Parmitano, an Italian astronaut for the European Space Agency, kept mission control abreast of their progress.

They were baked in a prototype oven built by NanoRacks and Zero G Kitchen, which create appliances for microgravity use in long-duration space flights.

Zero G Kitchen describes the oven as a cylindrical-shaped insulated container designed to hold and bake food samples in the microgravity environment.

The oven heats food through electric heating elements, similar to those found in a toaster oven, the company says.

While we have initial visual and scent feedback from the crew aboard the ISS, were excited to dive into fully understanding the baking results, said Mary Murphy, senior internal payloads manager at NanoRacks.

DoubleTree said it planned to preserve the cookies where visitors could view them and learn more about the experiment.

The results will help experts with future efforts to make long-duration space travel more hospitable, the company said.

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A ‘party two nights a week’ clause, space travel bans and a speculative England call-up bonus: what really… – The Athletic

Posted: at 12:53 am

Ever heard the one about the international footballer who was so keen to leave Planet Earth his club put a clause in his contract banning him for travelling into space?

Its true, Stefan Schwarz tells The Athletic, recalling the negotiations that took him to Sunderland from Valencia in 1999. I would have loved to go into space. It was my agents idea. When we were discussing the contract Moonraker, the James Bond movie, was on television. It was a film I liked. My agent said, lets get this contract done and well go. But then Sunderland got to hear about it and they were not so keen.

Sunderland had just been promoted to the Premier League under the management of Peter Reid and, needless to say, were not too enthused about the idea of their new acquisition climbing into a tin can attached to a rocket to be blasted into the heavens.

The bottom line was to protect the club, John Fickling, then Sunderlands chief executive,...

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Travel aggregator Shoes on Loose wants to disrupt the space with destination experts to guide every travelle – YourStory

Posted: at 12:53 am

Have feet, will travel? This Delhi-based travel startup aims to help you hit the road and enjoy the best vacations and holidays. Launched in 2011 by three IIT-Delhi alumni, Shoes on Loose is tapping technology to create transparency between travellers and service providers, and ultimately ensure hassle-free travel.

Mohit Poddar, CEO and Co-founder, says the fact that travel is a broken experience, when planned through several channels, led him to start up. Along with Co-founders Gaurav Kalyan, CTO, and Kritagya Tripathi, CMO, he decided to take a shot at solving this pain point by bootstrapping Shoes on Loose.

Shoes on Loose Founder Mohit Poddar is keen to make travel a hassle-free experience.

Mohit began the venture where he was organising group trips focused on a referral audience.

During that period, I was looking for people who could seamlessly handledifferent tasks. I happened to approach Kritagya and Gaurav and they agreed to join me. We decided to start up in 2011. While working together, we realised that we complemented each others strengths and had the same vision, Mohit says.

Shoes on Loose focuses on identifying every customers requirements and offering the best products available with the least efforts involved.

At Shoes on Loose, we have developed the concept of destination experts. Each of our team members works on just one destination at a time, channelising all efforts and time to that particular destination. S/he curates a value-for-money itinerary for clients to deliver the best sales experience, followed by an on-ground experience in line with the clients expectations, Mohit says.

Iin-house CRMs are in place across the entire buyers journey. The technology not only helps a customer finalise a trip based on preferences, but also assists destination experts to generate customised travel itineraries in seconds.

Customers have become tech-friendly and value-conscious with technology taking centre stage, Mohit says. And Shoes on Loose, which does not work on a price-conscious methodology, is catering to value-conscious customers.

This is the reason that the travel startup prioritises customer experience throughout the planning and execution phase, and believes it to be its single most effective differentiator. It focuses on knowledge-based selling, positioning itself as a team of destination experts as opposed to travel consultants or agents.

Shoes on Loose currently has 50 travel experts on board, and all are trained in delivering end-to-end solutions in destination travel.

A client dashboard gives travellers access to their entire trip details, vouchers, itinerary, blogs (trip guides/FAQ's), so they have complete knowledge of the destination they are heading to.

Shoes on Looses first client was an HRgroup of 45 people who approached the startup through a friend. The group was keen on a three to four-day wildlife getaway and wanted Shoes on Loose to plan the entire trip, from zeroing in on a place to managing all the finer details.

After due diligence by our travel experts, we suggested Bandhavgarh. To make their trip memorable, my team and I visited the place to get in-depth knowledge. We engaged with the group on a regular basis, and did things like sharing live videos of the resort that we shortlisted and taking their approval for the smallest aspects. That helped us build a personal connection, Mohit says.

The trip left everyone happy, and Shoes on Loose didntget its first big cheque; it also found a loyal customer. This was in 2012, and brought them several other clients.

"Though the journey hasbeen very adventurous, there have been a few ups and downs. The first year was really very tough for me," Mohit says. He was juggling the startup with his job, which required personal involvement with developers and designers to get things done.

Later, when he left his job to focus on the company, he was clear that he did not want Shoes on Loose to be a generic travel company. To this day, Mohit remains focused on ensuring that the startup remains tech-driven.

Apart from operational challenges, Mohit and team also took various risks like pre-purchasing flight seats without any B2B company backing them to make the travel packages more attractive.

Shoes on Looses business model has evolved with time, but the core has been the same: creating a product with the best value for the client and establishing long-term relationships.

More than 33 percent of the revenue is driven by referrals. The model is built around retaining existing clients while selling packages to gain new ones. The travel startup claims to have successfully conducted over 10,000+ customised tours to domestic and international destinations. More than 35,000 travellers have booked trips with Shoes on Loose.

The startup takes a commission from every package.

Apart from customised holiday packages, the startup also has an inventory of camping equipment that can cater to 500 campers at a time. They are the official camping partners of some of the leading music festivals in India, including Magnetic Fields Festival. We also provide camping gear on a rental basis and are trying to increase the demand as SBU of the company, Mohit says.

The founders have also launched a Save Ladakh campaign to promote sustainable tourism and educate travellers about rising concerns related to plastic waste management and water scarcity in Leh.

According to IBEF, the Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. A Techsiresearch report states that the countrys travel and tourism market stood at $56 billion in 2017 and is projected to grow at a CAGR of over 7.5 percent to reach $86 billion by 2023. This growth will be led by growing domestic and foreign tourist footfall and increasing number of religious and leisure trips.

Shoes on Loose, which started with an initial investment of Rs 20 lakh, has been reinvesting profits to expand the business. It remains bootstrapped, but is looking for Series A investment for business development, product development, and expansion.

Over the next 18 months, the founders aim toachieve a 5 percentmarket share in the destinations that they are promoting. The long-term plan is to make individual and corporate clients brand ambassadors and advocates for the startup.

They are also working on a client and vendor app to make the process transparent.

(Edited by Teja Lele Desai)

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A Major Fear for Democrats: Will the Party Come Together by November? – The New York Times

Posted: at 12:52 am

Mr. Sanders and Ms. Warren have accused one another of lying about a private conversation in 2018 over whether a woman could become president; Mr. Sanders and Mr. Biden have attacked each other over Social Security and corruption; and Hillary Clinton, the 2016 Democratic nominee, has come off the sidelines to stoke her rivalry with Mr. Sanders, declaring that nobody likes him.

The lack of consensus among Democratic voters, 10 days before the presidential nominating primary begins with the Iowa caucuses, has led some party leaders to make unusually fervent and early pleas for unity. On Monday alone, a pair of influential Democratic congressmen issued strikingly similar warnings to very different audiences in very different states.

We get down to November, theres only going to be one nominee, Representative James E. Clyburn of South Carolina, the third-ranking House Democrat, said at a ceremony for Martin Luther Kings Birthday at the State House in Columbia. Nobody can afford to get so angry because your first choice did not win. If you stay home in November, you are going to get Trump back.

No matter who our nominee is, we cant make the mistake that we made in 16, Representative Dave Loebsack of Iowa said that night in Cedar Rapids as he introduced his preferred 2020 candidate, former Mayor Pete Buttigieg of South Bend, Ind., at a town hall meeting. We all got to get behind that person so we can get Donald Trump out of office, Mr. Loebsack added.

In interviews, Democratic leaders say they believe the partys fights over such politically fraught issues as treasured entitlement programs, personal integrity, and gender and electability could hand Mr. Trump and foreign actors ammunition with which to depress turnout for their standard-bearer.

I am concerned about facing another disinformation campaign from the other side, said Representative Brendan Boyle of Pennsylvania, a Biden supporter who was uneasy enough that he recently sought out high-profile congressional backers of some of the other contenders to discuss an eventual dtente. For those of us who are elected officials, we need to exercise real leadership to make sure all of the camps are immediately united after all this is over.

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‘Didn’t answer the second part of my question’: Buttigieg grilled by anti-abortion Democrat – Washington Examiner

Posted: at 12:52 am

Democratic presidential candidate Pete Buttigieg faced sharp questioning at a Fox News town hall from an anti-abortion Democrat about his position on the issue and whether he thinks those who oppose abortion have a home in the Democratic Party.

"I'm a proud pro-life Democrat. So, do you want the support of pro-life Democrats?" town hall audience member Kristen Day, president of the Washington, D.C., organization Democrats for Life, asked the former South Bend, Indiana, mayor. "And if so, would you support more moderate platform language in the Democratic Party to ensure the party of diversity and inclusion really does include everybody?"

"I'm not going to try to earn your vote by tricking you. I am pro-choice, and I believe that a woman ought to be able to make that decision," Buttigieg, 38, responded. "But I know that the difference of opinion that you and I have is one that we have come by honestly. And the best that I can offer and it may win your vote, and if not, I understand. The best that I can offer is that, if we can't agree on where to draw the line, the next best thing we can do is agree on who should draw the line. And in my view, it's the woman who is faced with that decision in her own life."

Town hall moderator Chris Wallace noted that President Trump on Friday became the first president to speak at the annual anti-abortion March for Life demonstration in Washington, D.C. Wallace turned back to Day and asked if she was satisfied with the way Buttigieg answered her question.

"I was not because he didn't answer the second part of my question," Day said. "The Democratic platform contains language that basically says that we don't belong, we have no part in the party because it says abortion should be legal up to nine months; the government should pay for it. And there's nothing that says that people that have a diversity of views on this issue should be included in the party."

She noted that in 1996 and other years, there was language in the Democratic Party platform that welcomed those with different views on abortion.

"I support the position of my party that this kind of medical care needs to be available to everyone," Buttigieg said. "And I support the Roe v. Wade framework that holds that early in pregnancy, there are very few restrictions and later in pregnancy, there are very few exceptions. And again, the best I can offer is that we may disagree on that very important issue, and hopefully we'll be able to partner on other issues."

The woman then said something inaudible not captured by the microphone, and Wallace asked Buttigieg whether anti-abortion Democrats should be asked to look at the party platform as a whole or look for another party.

"I've never encountered a politician or frankly another person that I agreed with 100% of the time, even on very important things," Buttigieg said. "I cannot imagine that a decision that a woman confronts is going to ever be better medically or morally because it's being dictated by any government official. And that's just where I am on the issue."

Earlier in the town hall, Buttigieg similarly said that while he was trying to woo anti-Trump Republicans into supporting him, he was not trying to "trick" anyone.

At a Fox News town hall in May 2019, Buttigieg indicated that he did not support any restrictions on access to abortion in the third trimester of pregnancy. When Wallace noted that about 6,000 women per year get abortions in the third trimester of pregnancy, Buttigieg responded that represents less than 1% of cases.

"If its that late in your pregnancy, then its almost by definition, youve been expecting to carry it to term," Buttigieg said in May. "And the bottom line is, as horrible as that choice is, that woman, that family may seek spiritual guidance, they may seek medical guidance, but that decision is not going to be made any better, medically or morally, because the government is dictating how that decision should be made."

Just a handful of Democrats in Congress side with the anti-abortion platform, and abortion rights advocates have called for loosening all restrictions on abortion. In 2016 the Democratic platform on the issue shifted from calling for abortions to be "safe, legal, and rare" to just "safe and legal."

The Fox News town hall comes just a week before the first-in-the-nation Iowa caucuses. The RealClearPolitics average of Iowa polls finds Buttigieg behind former Vice President Joe Biden and Vermont Sen. Bernie Sanders with 19.3% support.

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5 Things We Learned Interviewing 2020 Democrats (Again) – The New York Times

Posted: at 12:52 am

A Mix of Candor and Evasion on the Obama Years

[See their responses on the Obama years.]

None of the Democratic candidates has shown any appetite for criticizing President Barack Obama. So, we wondered what they would say if we asked whether Barack Obama made any mistakes at all. Some of them responded by dodging the core of the question: Mr. Buttigieg and Ms. Warren, for instance, declined to name anything in particular they thought Mr. Obama did wrong.

But while all of them swathed their answers in lavish praise for the Obama record, several offered revealing hints of criticism. Mr. Bloomberg said the former president should have moved faster to fill vacant judgeships, while Ms. Klobuchar called the failure to take on prescription drug pricing a significant missed opportunity. Mr. Steyer faulted the former president for having spent too much time trying to work with Republican adversaries whom Mr. Steyer said would never compromise.

He trusted the Republicans too much, too long, Mr. Steyer said.

Most interesting of all may have been Mr. Yang, who delivered a big-picture critique of the Obama economic record: When we had a fundamental choice to either recapitalize the banks or keep Americans in their homes, we chose the banks, we bailed out Wall Street, Mr. Yang said. That is a view several other candidates in the race surely share, even if they did not say it out loud.

[See their responses about bad habits, books and celebrity crushes.]

While the interviews were mostly serious, eat-your-vegetables questions, we couldnt resist adding a bit of dessert. And so we asked all of the candidates to name their bad habits, the last book they read and their celebrity crushes.

The bad habits were almost endearingly normal.

I like Cheez-Its, Mr. Bloomberg said, which are probably not good for you.

I bite my nails, said Mr. Buttigieg.

Ms. Klobuchar had perhaps our favorite bad habit: The New York Times crossword puzzle, she said. So, my problem is that I do it at night.

Some candidates were willing to name a celebrity crush, but most were not. Without hesitation, Ms. Warren named The Rock. Just look at that man! she said. Hes eye candy!

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Democrats cry foul over Schiff backlash | TheHill – The Hill

Posted: at 12:52 am

Democrats are pushing back at GOP backlash over a controversial line in House Intelligence Committee Chairman Adam SchiffAdam Bennett SchiffSunday shows preview: Lawmakers prepare for week two of impeachment trial Trump defense team signals focus on Schiff Schiff pushes back: Defense team knows Trump is guilty MOREs (D-Calif.) closing statement in Friday night's impeachment trial arguments.

Schiffsparked an audible reaction from Republicans when he referenced a CBS News report that cited an anonymous Trump confidant saying GOP senators' headswould be on a pike if they opposed President TrumpDonald John TrumpKaine: Obama called Trump a 'fascist' during 2016 campaign Kaine: GOP senators should 'at least' treat Trump trial with seriousness of traffic court Louise Linton, wife of Mnuchin, deletes Instagram post in support of Greta Thunberg MORE on impeachment.

Republicans including Sens. LisaMurkowski(Alaska) and Susan CollinsSusan Margaret CollinsKaine: GOP senators should 'at least' treat Trump trial with seriousness of traffic court Romney: 'It's very likely I'll be in favor of witnesses' in Trump impeachment trial Schumer: Trump's team made case for new witnesses 'even stronger' MORE (Maine) quickly distanced themselves, with Collins overheard repeatedly saying "thats not true" and Murkowski saying Schiff "overreached."

But Senate Democrats are rallying behindSchiff, accusing Republicans offauxoutrage or overreacting to a few sentences in an hourlong closing statement for the House managers.

"The most dangerous place in America, maybe in Washington, is to stand by the exit door at the White House because when you fall out of favor with this president, he lops off your head, throws your body in the snow and buries you in vicious tweets," said Sen. DickDurbin(D-Ill.), the No. 2 Democrat, when asked about the GOP reaction to the line.

"So the notion that he may be following this and have some feelings about how people vote is not preposterous,"Durbinadded.

Asked about the outrage from Republicans, Sen. Jon TesterJonathan (Jon) TesterDemocrats cry foul over Schiff backlash Democrats feel political momentum swinging to them on impeachment Nadler gets under GOP's skin MORE (D-Mont.), who won reelection in 2018 in a red state, saidSchiff'scomment wasn't a mistake and that "in some cases people are just looking for excuses."

Sen. Chris MurphyChristopher (Chris) Scott MurphyDemocrats cry foul over Schiff backlash Tensions between McConnell and Schumer run high as trial gains momentum Nadler gets under GOP's skin MORE (D-Conn.)added in a tweetthat Republicans were jumping on the line as a distraction to avoid the substance of the allegations against President Trump.

Schiffreferenced the report as he was in the final stretch of his closing argument on the Senate floor Friday night.

"CBS News reported last night that a Trump confidant said that key senators were warned, 'Vote against the president and your head will be on a pike.' I don't know if that's true," Schiff said.

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Democrats, Republicans tussle over witnesses as vote approaches | TheHill – The Hill

Posted: at 12:52 am

Republican senators and Democratic House impeachment managers doubled down Sunday on their positions on calling witnesses in the Senate impeachment trial of President TrumpDonald John TrumpKaine: Obama called Trump a 'fascist' during 2016 campaign Kaine: GOP senators should 'at least' treat Trump trial with seriousness of traffic court Louise Linton, wife of Mnuchin, deletes Instagram post in support of Greta Thunberg MORE, with Republicans dismissing it as a stalling tacticand Democrats insisting the Senate and the public are entitled to additional information.

Sen. Tom CottonThomas (Tom) Bryant CottonSunday shows preview: Lawmakers prepare for week two of impeachment trial Schiff closes Dems' impeachment arguments with emotional appeal to remove Trump Commerce Department withdraws Huawei rule after Pentagon pushback: reports MORE (R-Ark.) said he was unsure of whether the Senate would vote to call witnesses but dismissed the idea on CBSs Face the Nation.

"Im not going to vote to approve witnesses because the House Democrats have had lots of witnesses. ... We listened to [House Intelligence Committee Chairman] Adam SchiffAdam Bennett SchiffSunday shows preview: Lawmakers prepare for week two of impeachment trial Trump defense team signals focus on Schiff Schiff pushes back: Defense team knows Trump is guilty MORE [D-Calif.] drone on for three days, and the president's lawyers in just two hours demolished the case they had made," he said.

"Theyre not upset that they havent had witnesses. Theyre upset that their witnesses havent said what they want them to say," he added.

Sen. James LankfordJames Paul LankfordSchiff sparks blowback with head on a 'pike' line Schiff closes Dems' impeachment arguments with emotional appeal to remove Trump Senate Republicans confident they'll win fight on witnesses MORE (R-Okla.), meanwhile, decried the call for witnesses as an attempt to prolong the trial as the chambers GOP majority seeks a speedy resolution.

They wanted to move as fast as possible, and now they want to slow down the trial as much as possible in the Senate, Lankford said on ABCs This Week. Thats just a very odd political strategy for them more than a fact-finding strategy.

The vote on whether to call witnesses, which will likely take place this week, has become a central question in the impeachment trial. Democrats tried to include a requirement to vote on individual witnesses and documents in the organizing resolution that set the rules for the trial, but Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellSchumer: Trump's team made case for new witnesses 'even stronger' Trump, Democrats risk unintended consequences with impeachment arguments CNN's Axelrod says impeachment didn't come up until 80 minutes into focus group MORE (R-Ky.) had the votes to shoot down the amendments and punt the question of witnessesuntil after both sides deliver opening statements.

Democrats want to hear from former national security adviser John BoltonJohn BoltonRomney: 'It's very likely I'll be in favor of witnesses' in Trump impeachment trial George Conway: Witness missing from impeachment trial is Trump Democrats see Mulvaney as smoking gun witness at Trump trial MORE and acting White House chief of staff Mick MulvaneyJohn (Mick) Michael MulvaneyDemocrats see Mulvaney as smoking gun witness at Trump trial Trump legal team offers brisk opening defense of president Trump legal team launches impeachment defense MORE. Last week, they dismissed an idea floated by Republicans of "witness reciprocity,"which would allowRepublicans to call a witness they want to hear from, such as former Vice President Joe BidenJoe BidenDes Moines Register endorses Elizabeth Warren as Democratic presidential nominee Sanders faces lingering questions about appeal to women voters George Conway: Witness missing from impeachment trial is Trump MORE's son Hunter Biden, in exchange for each Democratic witness called.

Sen. Amy KlobucharAmy Jean KlobucharDes Moines Register endorses Elizabeth Warren as Democratic presidential nominee Sunday shows preview: Lawmakers prepare for week two of impeachment trial Moore defends Sanders's reputation: 'We don't want the fake, and the phony and the fraudulent' MORE (D-Minn.) quoted the musical Hamilton in explaining her request for witnesses, saying, I want to hear from the men to quote the Founding Fathers musical to hear from the men in the room where it happened. ... That is people like Mr. Bolton and Mick Mulvaney.

Democrats say Bolton and Mulvaney have firsthand knowledge of Trump's dealings with Ukrainebut that Hunter Biden's testimony is irrelevant because he doesn't. Trump's allies contend that information from Hunter Biden could unravel the beginnings of the investigation.

The Houses impeachment managers also defended how the trialhas been conducted thus far, with Rep. Zoe LofgrenZoe Ellen LofgrenSunday shows preview: Lawmakers prepare for week two of impeachment trial GOP warns of 'drawn out' executive privilege battle over Bolton testimony Female impeachment managers say American public know a 'rigged' trial when they see one MORE (D-Calif.) calling on Trump to get a grip after a Sunday morning tweet in whichhe saidSchiff has not paid the price, yet, for what he has done to our Country.

"The president has a tendency to say things that seem threatening to people," Lofgren said on CNN's "State of the Union."

Lofgren also called on senators to vote for witnesses as a favor to the country, saying, "I think the country wants a complete picture. The senators have an opportunity to do it. ... I think they would be doing themselves a favor as well as the country a favor."

Schiff also responded to Trumps tweet, saying it was intended as a threat.

"It is going to be very difficult for some of these senators to stand up to this president. It really is. There's just no question about it," Schiff said on NBCs Meet the Press. "I want to acknowledge that, and I don't want to acknowledge it in a way that is offensive to them, but I do want to speak candidly about it."

Schiff also called on Chief Justice John Roberts to rule on the relevance of testimony from Hunter Biden if he is called to testify.

We have a very capable justice sitting right behind me who can make decisions about the materiality of witnesses, he said. We trust the Supreme Court chief justice to make those decisions.

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Facebook is worried about Democrats winning the presidential election – Axios

Posted: at 12:52 am

Driving the news: Democratic contenders responded with visceral dislike to mentions of Facebook during The New York Times' recent on-camera endorsement process.

Between the lines: Tech issues have driven more campaign debate during this Democratic primary season than in previous cycles.

Be smart: Criticism of Big Tech is coming from both parties. But Republicans and conservatives have historically opposed regulating industry and breaking up monopolies, while for Democrats, it's home base.

The big picture: Facebook has leaned on its conservative connections under the Trump administration, while its relationship with Democrats has become more hostile.

Yes, but: Facebook's Silicon Valley-based workforce almost certainly leans liberal, and its chief operating officer, Sheryl Sandberg, is a vocal Democrat.

Our thought bubble: Past presidents have shied away from criticizing or targeting specific U.S. firms, but Trump has erased that norm.

The bottom line: Big companies of a sufficient size generally avoid becoming associated with a political party because they want to attract customers across the political spectrum and they want to profit under presidents of either party.

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Facebook is worried about Democrats winning the presidential election - Axios

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