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Money talks. We translate. ✒️ @wsjmag 🏘 @wsjrealestate 🎤 @wsjlive 📷 @wsjphotos 🏝️ @wsjoffduty 📣 @wsjopinion 🗣️ @wsjfreeexpression
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Two years ago, Meg Weinberger clung so closely to Donald Trump in her bid for a Florida state House seat representing a slice of Palm Beach County that she became known as “MAGA Meg.”
In office, her signature accomplishment was to co-sponsor legislation renaming the Palm Beach International Airport and part of a local boulevard for the sitting president.
Just after 8:15 p.m. Tuesday, she sauntered into a local Italian restaurant for an election party that seemed destined to be a victory celebration. Instead, an hour later, a downcast Weinberger was consoling supporters in a thinning room. MAGA Meg had fallen to a first-time candidate, Democrat Elizabeth Holmes (not that Elizabeth Holmes) who had raised $53,000 to Weinberger’s more than $600,000.
Across the country, in places such as West Palm Beach—where Trump celebrated his restoration at a sparkly party two years ago—such scenes played out again and again as Republican incumbents succumbed to a blue wave whose scale few had anticipated. The MAGA faithful, in turn, were left to digest a historic election defeat while trying to imagine a future for their movement without their leader and talisman.
On the latter count, many simply can’t.
Read more at the link in our bio.
📷: @martina__tuaty for @wsjphotos
06 Nov 2026
President Trump said on Friday that longtime adviser Stephen Miller would become his chief of staff, replacing Susie Wiles after Republicans suffered far-reaching losses in this week’s midterm election.
The president said Wiles would move to his political operation. Wiles in a statement on X said that Friday would be her last day. The move comes after Trump, for weeks, has been polling his friends on how she has been performing in the role, according to people familiar with the conversations.
Wiles is departing at a political low point for Trump. Republicans faced a brutal defeat in Tuesday’s midterms, with a net loss of at least 41 House seats and at least seven seats in the Senate, including in deep red states like South Carolina and Kansas. Democrats will return to power in both chambers of Congress next year.
Wiles, who was Trump’s 2024 co-campaign manager, lasted longer than any of Trump’s first-term chiefs of staff—he went through four in four years. She stood out for her steely and even-tempered demeanor in a White House crowded with talkative men with large egos. Trump calls her the “Iron Maiden.”
Read more at the link in our bio.
Photo: Finn Gomez/Getty Images
06 Nov 2026
Students at Williams College pay less to attend on average than the in-state cost at the University of Massachusetts Amherst.
Those at Grinnell College pay less than Iowans going to the University of Iowa.
And at Swarthmore College, the average student pays roughly half of what peers fork out at Penn State.
A growing group of elite liberal-arts colleges long known for eye-watering price tags is turning out to be quite the bargain for many students—and the schools want you to know it. They have been rolling out expansive financial-aid policies for families of all income levels in a bid to stand out to a shrinking pool of college applicants.
The sticker price for attending Swarthmore is $98,370, including extra costs like transportation. But this year’s average aid package is $78,118, covering roughly 80% of attendance costs. Nearly 350 of Swarthmore’s roughly 1,700 students pay nothing. And starting in the next academic year, the school won’t charge tuition to families with typical assets earning under $200,000.
Others including Williams College have introduced similar thresholds for covering tuition. It is a shift for the top dogs in higher education, which have long associated prestige with high tuition. Facing tighter recruitment battles, private colleges are now advertising affordability. They are expanding need-based aid widely enough to compete on price against historically cheaper alternatives, following the lead of top universities like Harvard and Princeton.
Read more at the link in our bio.
06 Nov 2026
One company's mission to produce a 100% made-in-America Monopoly game ran into cracked trays, sky-high costs and a dice dilemma after Trump tariffs disrupted Chinese production.
The Monopoly Americana Edition took nearly 14 months to bring to market and ended up with an $80 price tag, compared with $45 for the China-made version.
Read more at the link in our bio.
Reporter: Ruth Simon
Host/Producer: Nicole Guillen
05 Nov 2026
When new hires at Weil, Gotshal & Manges gathered for orientation last week, senior lawyers at the legendary Wall Street firm—which burnished its reputation by leading mega-bankruptcies at Enron and Lehman Brothers—spoke of plans for a long and successful future.
Nine days later, at 3:30 p.m. on Wednesday, senior partners gathered everyone again. This time, they had a different message: the 95-year-old firm was shutting down.
“Given the significant partner departures, resulting loss of revenue and other disruptions, and after careful consideration of the alternatives, we have reached the heartbreaking conclusion that we must recommend an orderly dissolution of Weil, Gotshal & Manges,” said Barry Wolf, the firm’s leader, according to a video of the call reviewed by The Wall Street Journal. “This is not a recommendation we ever imagined making.”
A rapid chain of events had led to a once-unthinkable outcome: The collapse virtually overnight of a venerated and profitable law firm with some 1,200 attorneys worldwide and more than $2 billion in revenue. Late last week, when merger talks collapsed and another slew of top partners chose to leave the firm, the writing was on the wall. Just five days later, Weil’s downfall was complete.
Weil, the firm that invented much of modern bankruptcy practice and spent years as a go-to adviser for corporations under duress, turned that expertise on itself. It is now working with restructuring advisers of its own and figuring out how to engineer the kind of wind down it has done for clients for nearly a century since it was founded by top Jewish lawyers excluded from other elite shops.
The idea that a run on top talent could take down even a leading firm in a matter of weeks has sent a shudder across the legal industry.
Read more at the link in our bio.
Photo: Marcin Golba/Getty Images
05 Nov 2026
President Trump said Vice President JD Vance’s social-media post blaming Republican midterm election losses on the war in Iran was “largely true” because of voters’ frustration over gas prices.
Read more at the link in our bio.
05 Nov 2026
Three American servicemembers were killed in a July 17 Iranian strike on Muwaffaq Salti Air Base in the Jordanian desert. Satellite imagery shows the nighttime attack damaged at least 19 buildings where troops sleep.
It was one of the deadliest nights of the war for U.S. forces. But it wasn’t the only attack targeting American troops where they live and sleep. That same week, Iran hit multiple housing units at other U.S. military installations across the region.
The July strikes marked an alarming shift in Iran’s tactics and revealed an improvement in the regime’s ability to sequence attacks and hit targets with precision. Iran was taking more direct aim at the buildings that house American troops, according to a Wall Street Journal analysis of satellite data, Iranian military statements and interviews with U.S. officials.
In all, the Journal found 274 structures at 24 installations across the Middle East that showed damage during the war’s first six months.
Iran has hit America’s installations hard. Now, with President Trump considering a new wave of attacks on Iran, the U.S. military pulled some personnel off several of those locations ahead of possible retaliation, the Journal has reported. This comes as Pentagon officials worry that the regime has conserved some of its most sophisticated missiles and could improve its attacks in the next round of fighting.
The latest cost estimate of the Iran war stands at $47.1 billion as of Oct. 16, according to a document viewed by the Journal. That doesn’t include damage to bases, which the Pentagon separately priced at a minimum of $5 billion, according to U.S. officials familiar with the matter. That number could potentially be as high as $15 billion, according to a separate person briefed on the cost.
The Defense Department and U.S. Central Command, which oversees military operations in the Middle East, declined to comment.
At the link in our bio, see our analysis, the most comprehensive public accounting of the destruction to date.
Satellite and other images: European Space Agency, Planet Labs, Airbus, Google Earth
04 Nov 2026
China is six to 12 months behind the U.S. in the superintelligence race, under secretary of defense for research and engineering Emil Michael told the Journal’s Sarah Krouse Wednesday at WSJ Tech: California.
The U.S. has “something like 70% of the world’s data center capacity,” Michael said. But Chinese AI models have been growing in popularity due to their low cost, "so what I’ve been encouraging is for American companies to do open-source to compete with the Chinese models," he said.
Watch more of Michael’s interview with WSJ at the link in our bio. Photo by Katelyn Tucker for The Wall Street Journal.
04 Nov 2026
Tuesday’s midterm election results have been historic in many ways. Here are some of the milestones.
Read more at the link in our bio.
Host: Julia Munslow
Producers: @farah_oteroamad, @juliamunslow
04 Nov 2026
Americans’ long-simmering frustrations over the high cost of living boiled over Tuesday night to rearrange the nation’s political map. Voters decisively swept Democrats to power in the House and Senate after two years of rising prices, a deepening housing crisis and the everyday pain of filling up a gas tank.
“We’re just fed up,” said Ron Berube, a 64-year-old Lewiston, Maine, resident, who voted for Sen. Susan Collins (R., Maine) in 2020 but this year voted for her victorious Democratic challenger, Troy Jackson. “A lot of people are sick of Donald Trump. They can’t afford it. They can’t afford anything.”
Among voters polled by the Associated Press, roughly 39% said the economy was the single most important issue facing the country, and nearly 90% said the cost of living was a crucial or major factor in their vote.
Economic anger was closely tied to how voters cast their ballots in Tuesday’s House races. Three-quarters of voters described the economy as not so good or poor, and those voters backed Democratic candidates 67% to 29%. Nearly 80% said that inflation has caused their family hardship in the past year.
Rising costs of food, fuel and healthcare were major concerns for voters across the country, according to the AP, and voters placed the blame for the country’s economic woes squarely on President Trump, whose decision to go to war in Iran drove up fuel prices. Nearly two-thirds said the president’s tariff policies had hurt the national economy and the same share said Trump has made economic conditions worse.
Read more at the link in our bio.
Photo: Nick Oxford/Bloomberg News, Tim Gruber for @wsjphotos, Graeme Sloan/Bloomberg News
04 Nov 2026
The gaming industry has been in the AI business “since the beginning of time” which shouldn’t be a surprise, said Take-Two Interactive CEO Strauss Zelnick at WSJ Tech: California on Wednesday. Take-Two Interactive owns Rockstar Games, the company that is publishing Grand Theft Auto VI later this month, a release set to be one of the biggest gaming launches of all time.
“I didn’t like wake up three years ago when Sam Altman descended on the conference circuit and they’re like “Wow, this is huge news!” Obviously we were well aware of this,” Zelnick said.
The company is working on hundreds of projects using new technology to make better games more efficiently, but it hasn’t yet seen notable cost-savings from AI, he said.
Watch more of Zelnick’s interview with WSJ’s jessicatoonkel at the link in our bio. Photo by Katelyn Tucker for The Wall Street Journal.
04 Nov 2026
Khosla Ventures founder and tech entrepreneur Vinod Khosla laid out his vision for a capital gains tax at WSJ Tech: California Tuesday night.
“Frankly, the fundamental notion that capital gains should be taxed at a lower rate is unfair, because 40% of capital gains is paid by people making more than $10 million a year,” Khosla said.
Khosla said that President Trump won the 2024 election running on a more “ridiculous” basis than what a proposed capital gains tax would be: that immigrants are eating your pets.
Watch the full interview with Khosla at the link in our bio. Photo by Katelyn Tucker for The Wall Street Journal.
04 Nov 2026
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