Forbes Daily Newsletter Highlights – January 10, 2025
The rise of pickleball’s popularity in one Phoenix suburb is facing pushback due to a proposed tax hike to fund pickleball courts. Gilbert, a fast-growing town in Maricopa County, recently voted to raise taxes for various needs, including parks and recreation funds for pickleball courts. However, the conservative think tank, the Goldwater Institute, has filed a lawsuit against the town, labeling the tax increase as an “illegal pickleball tax.”
The lawsuit highlights the ongoing debate over local taxes and funding for recreational activities, especially in the face of potential federal budget cuts under the incoming Trump Administration. With municipalities needing to find ways to cover their costs, the issue of taxation and funding for community amenities like pickleball courts has become a contentious issue.
In other news, the death toll from wildfires in Los Angeles County has risen to 10, with the largest blaze covering nearly 20,000 acres. President Joe Biden has pledged federal support for disaster response, estimating total damages could reach $50 billion. Additionally, West Virginia Governor Jim Justice, once considered a billionaire, is now facing financial troubles with over $1 billion in debt.
On the business front, a report reveals that employers cut 761,358 jobs in 2024, the second-highest number in 15 years. The tech industry is also seeing advancements, with fiber-optic control systems for drones becoming available on platforms like Amazon and Alibaba.
In the world of politics, former President Jimmy Carter was memorialized in a state funeral, while President-elect Donald Trump’s criminal sentencing is set to take place in Manhattan. A federal judge in Kentucky also overturned President Biden’s attempt to expand Title IX protections for transgender students.
In sports and entertainment, five major sports leagues generated a record-breaking $7.66 billion in sponsorship revenue in 2024, with Major League Baseball leading the way. The daily cover story features Abstrax Tech, a company specializing in terpenes and essential oils for the cannabis industry, aiming to differentiate products with unique flavors.
Overall, the news landscape is filled with a mix of political, economic, and social issues, reflecting the diverse and dynamic nature of current events.
