lucky walk Justin Paget/DigitalVision via Getty Images Investment Thesis Since our last coverage , Innovative Industrial Properties ( NYSE: IIPR ) has crashed nearly 50%, with recent tenant issues, including PharmaCann’s bankruptcy, erasing gains and turning performance negative for the year. Despite this, the long-term case remains strong. Tenant Analyst’s Disclosure: I/we have a beneficial long position in the shares of IIPR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Prime Minister Anthony Albanese will unveil a refreshed frontbench line-up in late January, with Bill Shorten’s exit from parliament opening the door to a junior minister being promoted, months out from the next federal election. Senior government sources, who asked not to be named so they could speak freely, say Albanese is considering two options for his frontbench shake-up, with responsibility for Shorten’s former portfolios of Government Services and the NDIS to be handed on as the federal election is not due until May 2025. Anika Wells, Matt Keogh, Amanda Rishworth and Mark Butler are all being considered to assume outgoing Bill Shorten’s responsibilities. Credit: In the reshuffle, government sources said the first and more likely option was that Social Services Minister Amanda Rishworth and Health Minister Mark Butler would be handed responsibility for one of each of the portfolios, with NDIS a better fit for Rishworth as the disability agency is part of her department. This would mean the number of cabinet ministers would shrink from 23 to 22 people. The second option being considered is promoting a member of the outer ministry, with Queensland-based Aged Care and Sports Minister Anika Wells and WA-based Veterans and Defence Personnel Minister Matt Keogh considered the frontrunners. Both are in the Labor Right faction, like Shorten. Loading Opposition Leader Peter Dutton must also replace a senior shadow minister on his frontbench after opposition Senate leader and foreign affairs spokesman Simon Birmingham announced on Thursday that he was quitting politics. The first details of how Albanese could recast his frontbench have emerged after a successful end to the parliamentary year for the government, which included the passing of 31 new laws on the final day , after months of delay and lengthy negotiations with the Coalition or the Greens and the crossbench. As parliament wound down for the year, Labor won Senate votes on housing, food prices and a ban on social media apps for under 16s, and other measures. Albanese and Treasurer Jim Chalmers have to release a mid-year budget update before Christmas that could foreshadow more cost-of-living relief, while Dutton has hinted at more detail on the opposition’s nuclear and housing policies before Christmas too.LaLiga: Hansi Flick explains why Barça lost 2-1 to Las Palmas

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Trump aims to appoint son-in-law’s father as US ambassador to France

A federal judge in Oregon has blocked the megamerger of grocery giants Kroger and Albertsons from moving forward, delivering a win for antitrust hawks and the Federal Trade Commission. U.S. District Court Judge Adrienne Nelson issued an order Tuesday granting a preliminary injunction to halt the $25 billion deal. Nelson found that the FTC and several state attorneys general were likely to prevail in their argument that the merger violates antitrust law. The ruling does not kill the deal outright and can be appealed. But it marks a major setback for Kroger and Albertsons, which are facing two other legal challenges to their merger. The FTC claims that combining the two companies — each of which owns thousands of grocery stores around the country — would raise prices for customers and push down wages for workers. As part of the merger, Kroger and Albertsons proposed divesting hundreds of stores to a company called C&S Wholesale Grocers in order to maintain a competitive market. But Nelson said that plan fell short. “There is ample evidence that the divestiture is not sufficient in scale to adequately compete with the merged firm and is structured in a way that will significantly disadvantage C&S as a competitor,” she wrote. Douglas Farrar, a spokesperson for the FTC, said in an email that Nelson’s ruling “protects competition” and will “prevent prices from rising even more.” “This statement win makes it clear that strong, reality-based antitrust enforcement delivers real results for consumers, workers and small businesses,” Farrar said. Albertsons said through a spokesperson that it was “disappointed” in the decision and was evaluating its options. Don't let this be the end of the free press. The free press is under attack — and America's future hangs in the balance. As other newsrooms bow to political pressure, HuffPost is not backing down. Would you help us keep our news free for all? We can't do it without you. Can't afford to contribute? Support HuffPost by creating a free account and log in while you read. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give once or many more times, we appreciate your contribution to keeping our journalism free for all. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give just one more time or sign up again to contribute regularly, we appreciate you playing a part in keeping our journalism free for all. Already contributed? Log in to hide these messages. “We believe we clearly outlined during the proceedings how the proposed merger would expand competition, lower prices, increase associate wages, protect union jobs, and enhance customers’ shopping experience,” the company said. The FTC had voted 3-0 in favor of pursuing its complaint against Kroger and Albertsons earlier this year. The agency is chaired by Lina Khan , the progressive antitrust regulator installed by President Joe Biden . Kroger and Albertsons have maintained that putting the two companies under one roof would lead to lower prices for customers and wouldn’t depress wages. But they received strong pushback from consumer groups, politicians and labor unions that represent grocery store workers. Colorado’s attorney general filed a separate lawsuit against Kroger and Albertsons in February, alleging that the two companies colluded to weaken workers’ leverage during contract talks. The lawsuit cited a purported email from an Albertsons executive telling a counterpart at Kroger that his company would not poach Kroger employees while they were on strike. This story has been updated with comment from Albertsons. Related From Our Partner

Former Rep. Matt Gaetz, R-Fla., closes a door to a private meeting with Vice President-elect JD Vance and Republican Senate Judiciary Committee members, at the Capitol in Washington on Wednesday. J. Scott Applewhite/Associated Press The big moment. Former congressman Matt Gaetz’s time as President-elect Donald Trump’s pick for attorney general has come to an end. It wound up lasting less than a Scaramucci. Gaetz, R-Florida, announced suddenly Thursday that he’s withdrawing from consideration, amid continued revelations about sexual misconduct claims against him, questions about a looming House Ethics Committee report and resistance from his fellow Republicans. Both Gaetz and Trump in social media posts claimed that Gaetz was doing well but had become a “distraction” – a PR word that often gets bandied about in untenable circumstances. But Gaetz’s downfall was about more than a momentary distraction. It was a sizable early setback for Trump, just more than two weeks after his triumphant 2024 election win. It’s also a sign that institutions – or at least a few members of them – can still stand up to Trump, and a remarkably swift conclusion to what could be a series of tussles between Trump and his own party. Let’s dive into those dynamics and other takeaways. IT’S A MAJOR SETBACK FOR TRUMP Gaetz was always going to be a tough sell, even for his fellow Republicans. Just four Republican senators would have been enough to kill his nomination if they voted with all Democrats. And plenty expressed reservations. There is not much love for Gaetz in congressional Republican circles, dating back to his successful effort to oust then-House Speaker Kevin McCarthy, R-California, last year. His baggage was also the most problematic among Trump’s controversial nominees, given that it involved allegations of sex with a 17-year-old – and particularly given the prospect of the ethics report coming out. On Tuesday, I wrote about how Gaetz’s nomination was in the most trouble, full stop. That wasn’t exactly a hot take. But just because this was predictable doesn’t mean it’s not bad for Trump. Trump chose to spend some of his earliest post-election political capital on this fight, daring Republican senators to defy him just a week after his election. He chose someone for a prestigious Cabinet department who had major baggage that was obvious to anyone with access to Google. And that gamble quickly fell apart. The whole thing suggests a very fast-and-loose Trump operation – no surprise if you were paying attention from 2017 through early 2021 – that is going to keep creating problems for the man in charge and his party. That there was apparently nobody around Trump willing or able to caution him against Gaetz doesn’t augur well for what lies ahead. Trump undoubtedly cares less about the idea that his political capital is damaged than your average politician. He’ll just move on to the next thing. But it can’t help but look like weakness – including to the Republicans he could clash with within the months and years to come. IT SHOWS THAT INSTITUTIONS CAN STILL STAND UP TO TRUMP Trump has claimed that the 2024 election gave him a huge mandate – despite him failing to win a majority of the popular vote and Republicans gaining relatively little ground. And Republicans have largely echoed that line. Some have gone as far as to suggest it’s time to just give Trump pretty much whatever he wants, including his Cabinet picks. We don’t yet know all the details of why Gaetz withdrew and how much the GOP resistance played a role (vs., say, Gaetz worrying about his own personal dirty laundry being aired). But regardless, this is an early signal that institutions – whether Republican senators, the legal and ethics systems, and/or the media – can still provide a significant check on Trump, if they are so inclined. We shouldn’t oversell that. As noted, Gaetz was always likely to be a bridge too far. And seeing Republican senators give lukewarm quotes about him and choose to fight against him more privately doesn’t exactly suggest they feel empowered to publicly stand up to Trump. A handful of senators with reservations about Gaetz is far from the entire Senate, even as the opposition was apparently enough to make him and Trump think twice about moving forward. Still, Gaetz’s failure was an early test of the system. The system didn’t work in Trump’s favor. And Trump’s critics right now probably undersell how assertive the GOP-controlled Senate, in particular, could be. This is a chamber that features plenty of institutionalists who don’t love the idea of being rolled by the president and forced to do things they don’t like (tariffs, abandoning Ukraine, etc.). Trump has also signaled he’ll push his political and policy norm-breaking quite a bit further than in his first term. It only takes four Republicans to stand in his way, and there are a fair number of moderates, Trump critics and retiring senators who could do so. WHAT IT MEANS FOR TRUMP’S OTHER PICKS When Trump picked Gaetz last week, theories abounded about how maybe this wasn’t all that it seemed – that it wasn’t truly about getting Gaetz installed as attorney general. A prominent theory was that perhaps Gaetz was a stalking horse. It held that he was a completely unacceptable pick put forward to be rejected and make Trump’s other picks, including his next pick for attorney general, look more acceptable by comparison. Whether or not that was the intent, the question now becomes whether Gaetz withdrawing will indeed make it easier for Trump’s other picks, such as Robert F. Kennedy Jr. (health and human services secretary), Tulsi Gabbard (director of national intelligence) and Pete Hegseth (defense secretary). Will Republicans view themselves as having beaten back the worst of Trump’s picks and relent on other nominees? Maybe. But I think the lack of a true, extended fight over Gaetz makes that less plausible. It would be one thing if Republicans fought over Gaetz for months, and Trump supporters were able to send a strong signal that opposing Trump would come with a cost (including public attacks and primaries). Some murmurs of retribution began this week, but the revenge campaign never really took hold. Now Gaetz will be a distant memory by the time those other nominations get considered, and nobody had to vote against him. You could also make a strong argument that critics of Trump’s picks will be emboldened by beating this one back so quickly. WHAT’S NEXT FOR GAETZ Another big question after Gaetz’s withdrawal is what happens to his political career. He resigned from the current, 118th Congress last week, after all. But the Florida congressman was reelected this month to the 119th Congress and could take his seat come Jan. 3. Republicans will have a narrow majority in which every seat could matter. Georgetown University’s Matt Glassman has a good look at the legal ins and outs. Basically, it would probably be up to the Republican-controlled House, which can interpret its own rules. But also, coming back to Congress would almost undoubtedly lead to the release of that ethics report, at which point Gaetz and his fellow Republicans would have to relive all of this drama. And it could involve Republicans voting to reseat a guy they clearly have little regard for and view as a problem for their party. Gaetz has also been rumored as a potential candidate for Florida governor in 2026. As for whether he could win his party’s nomination and that office? It probably can’t be completely ruled out in a red state. A MOMENTOUS POLL NUMBER 51-36 That’s the margin by which voters in a new Economist/YouGov poll say they approve of Trump’s handling of his presidential transition. It’s one of the first polls of how people view Trump post-election. That suggests he’s gotten something of a honeymoon, at least as of Tuesday (when the poll concluded). It also suggests that the major controversies surrounding his Cabinet picks haven’t turned Americans against him. Or perhaps it’s that people really haven’t tuned in to nomination battles that won’t take place until early 2025. For instance, the same poll asked whether people approved of Gaetz’s selection, and voters were about evenly split – 37% favorable to 39% unfavorable. Maybe it’s just early and people have political fatigue. We invite you to add your comments. We encourage a thoughtful exchange of ideas and information on this website. By joining the conversation, you are agreeing to our commenting policy and terms of use . More information is found on our FAQs . You can modify your screen name here . Comments are managed by our staff during regular business hours Monday through Friday as well as limited hours on Saturday and Sunday. Comments held for moderation outside of those hours may take longer to approve. Please sign into your Sun Journal account to participate in conversations below. If you do not have an account, you can register or subscribe . Questions? Please see our FAQs . Your commenting screen name has been updated. Send questions/comments to the editors. « Previous

NICOSIA, Cyprus -- Moody’s two-notch upgrade of Cyprus' credit rating to A3 from Baa2 opens the threshold to quality foreign investment that will generate new jobs, the president said Saturday. President Nikos Christodoulides said in a statement that the rating agency’s action reflects his government’s efforts at cementing Cyprus’ reputation as a credible investment destination through disciplined fiscal policy, banking sector stability and financial reform. Finance Minister Makis Keravnos said the upgrade marks the first time that Moody’s has elevated Cyprus back into the upper medium grade investment category since 2011, when a brewing financial crisis brought the country to the brink of bankruptcy that required a bailout from the European Union and the International Monetary Fund two years later. Moody’s said its rationale for the ratings upgrade and stable outlook was grounded in Cyprus’ “prudent fiscal policy” that combined spending cuts with strong public revenue growth, resulting in fiscal surpluses over the last two years. The agency said smaller fiscal surpluses are expected to continue until 2028, while a drop in public debt “has been one of the most substantial globally,” dropping from 113.6% of gross domestic product in 2020 to 73% in 2023. According to Moody’s, debt is forecast to continue dropping to 50% in 2027, while the economy will grow by an average of 3.2% between 2024 and 2028, thanks to continued growth in sectors including information and communication technology, finance and insurance. Companies are opting to set up their headquarters in Cyprus, particularly from Ukraine, Israel and the Middle East. Foreign investment in energy, education, construction, health care and tourism will also buoy economic growth over the medium term. Moody’s said downside risks include cancellation of large investment project, a burgeoning public sector wage bill and spending pressures in health care.Jason Myers kicked two field goals and Seattle's defense did the rest as the Seahawks kept their slim playoff hopes alive with a 6-3 victory against the host Chicago Bears on a rainy Thursday night at Soldier Field. The Seahawks (9-7) pulled within a half-game of the NFC West-leading Los Angeles Rams (9-6). Seattle, which has already been eliminated from wild-card contention, is rooting for the Rams to lose to the visiting Arizona Cardinals on Saturday night. That would set up a winner-take-all finale between the Seahawks and Rams next weekend at SoFi Stadium. Seattle sacked Bears quarterback Caleb Williams seven times, allowed just 179 total yards and grabbed a game-clinching interception in the final seconds. Myers kicked a 27-yard field goal on the game's opening drive and added a 50-yarder with 21 seconds left in the first half to make it 6-3. The Bears' Cairo Santos booted a 42-yard field goal with 2:32 left in the second quarter to tie the score at 3-all. The Seahawks were without starting running back Kenneth Walker III (ankle), who was placed on injured reserve earlier in the day. Zach Charbonnet rushed for a game-high 57 yards on 15 carries in his place, and Kenny McIntosh added 46 yards on seven attempts. Seattle quarterback Geno Smith, hobbled by a knee injury, completed 17 of 23 passes for 160 yards and didn't commit a turnover. The Bears (4-12) took their 10th consecutive loss, a streak that began when they allowed a Hail Mary on the last play in an 18-15 loss to the host Washington Commanders on Oct. 27. Williams finished 16 of 28 for 122 yards and the one pick. D'Andre Swift rushed for 53 yards on 12 attempts, and DJ Moore made six catches for 54 yards. It appeared Williams might lead the Bears to a late score, as he converted a pair of mid-range passes in the final 2:15. Facing an all-out blitz, he hit Moore for 14 yards on fourth-and-5 from Chicago's 35, then scrambled and found Rome Odunze between three defenders for a 15-yard gain on third-and-14. Facing fourth-and-10 with 20 seconds left from Seattle's 40, the Bears eschewed a potential tying 57-yard field-goal try, and Williams' wobbly pass under pressure from Coby Bryant's cornerback blitz was intercepted by Riq Woolen to seal the outcome. The fans at Soldier Field got one chance to cheer late in the third quarter. Cornerback Kyler Gordon dragged down Seattle tight end Pharaoh Brown after a 4-yard reception, got up with the ball and jogged 62 yards to the end zone with seemingly all the Seahawks thinking the play was over. Referee Scott Novak announced the call on the field was the ball came loose and raised his hands above his head to signal a touchdown, sending the fans into a frenzy, but a video review determined Gordon was down by contact after recovering the fumble. --Field Level Media

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When fire threatened a California university, the school says it knew what to doNoneGlobal stocks mostly fall ahead of ECB, US inflation data

Industrial Inline Process Viscometer Market Outlook and Future Projections for 2030Atalanta goes from the Europa League trophy to the top of Serie A. Inter routs Verona 5-0