May 1, 2018

Axios PM

By Mike Allen
Mike Allen

Situational awareness: Snap ⬇ after missing on earnings amid slower user growth; Apple ⬆ after selling 52.2 million iPhones in Q1. It will buy back $100 billion in shares.

1 big thing: The teacher strikes battlegrounds

Illustration: Rebecca Zisser / Axios

The teachers strikes show no signs of slowing down, with Arizona educators rejecting a deal and Colorado teachers remaining out of classrooms.

Axios' Michael Sykes emails: "The pressure is on for state legislators to meet the demands of teachers or else strikes will continue. If they don't, we could see strikes lasting for more than a week."

Factors at play:

  • Teachers wages have been stagnant since the Great Recession. [Axios]
  • Educators end up buying classroom materials out of their own pockets. [Axios]
  • State pensions are woefully underfunded, with a $1.4 trillion deficit as of 2016. "That puts downward pressure on wages and benefit checks as governments struggle to close the funding gap." [AP]

The battlegrounds:

  • West Virginia: 5% pay increase secured.
  • Oklahoma: $450 million in new tax revenue for education secured.
  • Kentucky: Teachers managed to pressure the Republican legislature to override education cuts.
  • Arizona: Seeking 20% raise. The state's Republican legislature and governor have a deal to get that raise done by 2020, but teachers want it immediately.
  • Colorado: Teachers have walked out to protest stagnant pay and education funding that has failed to keep pace with inflation.

Go deeper: Our latest Axios video features the challenges faced by teachers

2. What you missed

Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference. Photo: Justin Sullivan/Getty Images

  1. Live from F8: Facebook is opening up a dating section, rolling out a $199 virtual reality set, redesigning messenger and introducing video chat. Highlights.
  2. Speaking of Facebook: The U.K.'s Parliament has issued an ultimatum that Facebook needs to make Mark Zuckerberg available to testify voluntarily or face a summons next time he enters British territory. Dive in.
  3. Benjamin Netanyahu briefed Trump two months ago on the capture of the Iranian "nuclear archive," Axios contributor Barak Ravid reports. Go deeper.
  4. California is leading a group of 18 states in suing the EPA, accusing the agency of failing to follow regulations and violating the Clean Air Act with its plan to roll back Obama-era mileage standards. The list.
  5. Yikes: Illnesses spread by mosquitoes, ticks and fleas have greatly expanded in both infection rates and in geographical reach, with more than 640,000 cases reported and 9 new germs discovered between 2004–2016, the CDC announced today.
3. 1 fun thing

"A limited series based on the lives of Sandra Day O’Connor and Ruth Bader Ginsburg" is in development, Variety's Joe Otterson reports.

  • "The book tells the story of the groundbreaking judges, and how their careers have shaped the legal framework of modern feminism, including employment discrimination, abortion, affirmative action, sexual harassment, and many other issues."
  • "Ginsburg was also the subject of the recent documentary film 'RBG,' which is set to be released theatrically on May 4."
Mike Allen