Jon Daigle won this week’s world-famous news haiku competition™ with this beauty about wealthy New Yorkers saying the tax on second homes is hurting the city's "Philanthropic Class."

Congratulations, Jon, who wrote this email on hearing of his victory:

You’re welcome! Here’s your celebratory gif of me creating this newsletter for you, Jon and Mrs. Jon:

And here’s how you scored against the competition:

🟩🟩🟩🟩🟩🟩 Maybe they could give, Second homes to the homeless, Then no taxes, yeah? ~Jon Daigle (166)
🟨🟨⬜️⬜️⬜️⬜️ The rich should be thrilled

, for a tax on second homes. Beats getting eaten~Sam Sigelakis-Minski (61)
🟨🟨🟨⬜️⬜️⬜️ Marble floors, no soul, Charity galas won't pay, Teachers’ salaries ~Kristin Lanham (98)
🟨🟨🟨⬜️⬜️⬜️ It’s like a waitress, living with a billionaire. Who should pay more bills? ~ Margaret Lea (88)
🟨⬜️⬜️⬜️⬜️⬜️ Kid’s ten dollar gift - Greater philanthropy than, Billionaire’s million ~Vanessa Cato (56)
469 Votes via @beehiiv polls 

This week’s world-famous news haiku competition™ is about how Intel stock soared more than 20% last Friday, eight months after the U.S. government took a 10 percent stake to prop up the firm. Try to get the famous “Intel Inside” jingle in there if you can? Send me your entry — to haiku at cheddar dot com — by noon ET Thursday, for consideration by your Cheddar peers.

And now, news!

Matt Davis — Need2Know Chedditor

News You Need2Know

• Intel single-handedly drags Wall Street to the pro …

• DOJ drops Powell probe, clearing path for Warsh

• Apple really wants to recycle all your old tech

• There are secrets behind your snacks!

• This company is floating on the stock market by ma …

• Poll of the day: Time to recycle?

What’s the stock market up to, eh?*

$SPX ( ▲ 0.8% ) $DJI ( ▼ 0.16% ) $NDX ( ▲ 1.59% )  

Companies mentioned in today’s newsletter

$INTC ( ▲ 23.6% )  $PG ( ▲ 2.46% )  $COST ( ▼ 0.32% )  $CHTR ( ▼ 25.5% )  $CHTR ( ▼ 25.5% )  $AAPL ( ▼ 0.87% )  $MAIR ( ▼ 1.2% )

Intel single-handedly drags Wall Street to the prom

Wall Street was back to doing what it does best on Friday: Watching tech stocks inflate our collective hopes. Intel $INTC ( ▲ 23.6% )  decided to have its best day since 1987, soaring a massive 22.6% on top of an impressive run over the last month because their CEO Lip-Bu Tan said the next wave of AI is increasing the need for its chips, and the company’s forecast for profit in the spring topped analysts’ estimates. This heroic, silicon-fueled effort single-handedly dragged the Nasdaq up 1.5% and shoved the S&P 500 toward yet another all-time high.

Meanwhile, the oil market continues yo-yoing like a confused tourist, with Brent crude bouncing between $98 and $107 as traders panic-refresh the news over a tenuous U.S.-Iran ceasefire.

Procter & Gamble $PG ( ▲ 2.46% ) climbed a tidy 3.5% because people are still stubbornly buying Tide detergent and Bounty paper towels, even though the Kirkland brand from Costco $COST ( ▼ 0.32% ) are obviously superior. On the depressing end of the spectrum, Charter Communications $CHTR ( ▼ 25.5% ) plummeted 23.7% after 120,000 of its customers pulled the plug on their internet. Even Hartford Insurance Group $CHTR ( ▼ 25.5% ) joined the loser's bracket, slipping 1.3% after disappointing the analysts. Although I still trust them for my business insurance, for what it’s worth.

Quote of the Day

DOJ drops Powell probe, clearing path for Warsh

The Justice Department has officially tossed its towel into the ring, ending its criminal probe into Federal Reserve Chair Jerome Powell. This clears the very stubborn, politically charged roadblock standing between Kevin Warsh and his confirmation as Powell’s successor.

What was the scandal? A grand inquiry into Powell's congressional testimony about budget overruns for renovating two historic Fed buildings. A federal judge had already smacked down the grand jury subpoenas, noting there was “essentially zero evidence” of any criminal wrongdoing. Even so, U.S. Attorney Jeanine Pirro couldn't resist a parting shot on X, warning, “Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.” Sounds like someone really hates paying contractors. President Trump, meanwhile, previously demanded, “we have to find out” where the cash went.

The DOJ’s probe is widely regarded as a politically motivated attempt by Trump to pressure Powell to lower interest rates.

“This is just an attempt to clear the path for Senate Republicans to install President Trump’s sock puppet Kevin Warsh as Fed Chair,” wrote Democratic Senator Elizabeth Warren, in response to the news.

The real hostage negotiator here is Senator Thom Tillis, who flat-out refused to advance Warsh’s nomination while the circus was in town. Tillis practically begged Trump and the DOJ at Warsh's confirmation hearing: “You have extraordinary credentials. They’re impeccable. Let’s get rid of this investigation, so I can support your confirmation.”

Apple really wants to recycle all your old tech

Do you have a "drawer full of cables and devices, maybe a fully functional old iPhone at the bottom"? You're not alone! According to Lauren Braun, Senior Manager for Environment Product Marketing at Apple $AAPL ( ▼ 0.87% ) , this "universal problem" is exactly what Apple is trying to solve.

Before you toss that ancient iPod shuffle, remember that "the best thing for the planet is to keep using devices that still work," which is why Lauren suggests three options: passing them down, trading them in, or recycling them. Trading in gets you an Apple gift card (and yes, "pro tip, we will also take most Android smartphones for trade-in as well"!).

If your gadget is truly at the end of its life, Apple will take it for free recycling—and we mean everything. Lauren confirms, "we’ll take smartphones, laptops, headphones, even if they’re not from Apple, plus all those accessories, cases, and cables in that drawer."

Worried about your photos? Don't be. Lauren assures us it's "really easy and quite simple to get your device ready" by backing up to iCloud and securely wiping the information.

So, what's her number-one piece of advice? “Forget the guilt and just start cleaning.” Lauren's final tip is simple: "Just open the drawer, just open the door and take out the devices and then bring them in and we'll help you figure out where they should go that's best." 

Stop sitting on those valuable materials like copper and gold. The planet (and your junk drawer) will thank you!

Song of the Day: Kehlani featuring Usher, “Shoulda Never”

"Shoulda Never" is a collaboration between Kehlani and Usher from Kehlani's fifth studio album, released on Friday. It’s a standout collaboration seamlessly blending classic R&B influences with a modern feel. Enjoy!

There are secrets behind your snacks!

Ever wondered why your favorite pizza spot has such a specific name, or why your childhood chocolate drink exists? Adam Richman, host of “The Foods That Built America,” joined us to dish on the wild origin stories behind iconic brands. Richman calls these "the real human, behind the scenes origin stories of the brands that you already know, already love.”

Take Pizza Hut, for example. Richman reveals the name wasn't just a branding choice; it was a budget constraint. The founding Carney brothers had a sign with space for only nine letters, "five of which had to be pizza, one of which has to be a space which left three... they ultimately went with Pizza Hut cause of the shape of the roof."

Richman's passion for these tales is infectious, highlighting "really clever creative decisions" that changed the American economy. For instance, Cheetos were born when, after World War II, Herman Lay saw "a surplus of powdered cheese." They found a way to extrude and puff corn, tossed it in the cheese, and a whole "subcategory of food was born."

And then there's the Jersey pride of Yoo-hoo. Born in 1928, its creator, Natale Olivier, realized you could only get chocolate drinks at a soda fountain. He figured out how to bottle it, naming it after his wife’s favorite song that had a refrain of "I'm in love with you-hoo.” 

Even string cheese, which Richman remembers as a mandatory snack at soccer games, was key to a different snack innovation. It was tried in various formulas for the original stuffed crust pizza, and its "density and the diameter" made it the perfect filling. Richman notes that this product, which was once "waste," became "the most desirable part of the pizza."

Next time you're snacking, remember: "There's a historical context that will make you go, wow." 

This company is floating on the stock market by making air-con for sweaty AI chips

The AI boom is officially here, and what’s the most pressing technological challenge? Apparently, it’s keeping all those genius chips from overheating. Enter Madison Air $MAIR ( ▼ 1.2% ) , the cooling powerhouse that just floated on the stock market. CEO Jill Wyant described the IPO as "amazing," adding that she is "incredibly proud of our team, our companies, the performance, and the momentum we've built."

While most of us take a deep breath 25,000 times a day without thinking, Wyant explains that "at Madison Air, we see air very differently." They specialize in "highly engineered custom solutions" for mission-critical markets — from hospitals and healthy homes to, crucially, data centers.

It turns out that those massive data centers, the engine rooms of AI, have a serious heating problem. "Cooling it is 40% of the cost of operating the data center," Wyant noted, emphasizing Madison Air's "real impact on driving the customer's performance." Their secret sauce is a focus on what they call "return on air," by bringing "customized solution designed from the ground up" for the world’s biggest “hyperscalers.”

Looking ahead, Wyant is keen to keep the momentum going, continuing to serve customers well in order to "spread more mission to make the world safer, healthier, and more productive through the power of air."

Next time you use an AI chatbot, spare a thought for the air conditioning unit keeping its processor chill, and Madison Air's stock price hot.

Free yourself from advertising forever!

Should you check your 401(k) today?

👍️ 

Yes.

Poll of the day: Time to recycle?

Need2Know is covered by Cheddar’s Terms of Service

P.S. So, you remember the cheese puns that used to open this newsletter? Suffice to say, they were divisive. Now, thanks to a thing called “dynamic content options,” I can offer you the option to see cheese puns again, if you’re one of the thousands who got in touch bemoaning their departure six months ago. All you need to do is answer “true” on this survey, and submit it. If you never want to see cheese puns in this newsletter again, don’t click that link, don’t fill out the survey, don’t submit it. Just keep reading and pretend this conversation never happened. Mmmkay? Thank you.