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Texas officials face scrutiny over response to catastrophic and deadly flooding

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Before heading to bed before the Fourth of July holiday, Christopher Flowers checked the weather while staying at a friend’s house along the Guadalupe River. Nothing in the forecast alarmed him.

Hours later, he was rushing to safety: He woke up in darkness to electrical sockets popping and ankle-deep water. Quickly, his family scrambled nine people into the attic. Phones buzzed with alerts, Flowers recalled Saturday, but he did not remember when in the chaos they started.

“What they need is some kind of external system, like a tornado warning that tells people to get out now,” Flowers, 44, said.

The destructive fast-moving waters that began before sunrise Friday in the Texas Hill Country killed at least 43 people in Kerr County, authorities said Saturday, and an unknown number of people remained missing. Those still unaccounted for included 27 girls from Camp Mystic, a Christian summer camp along a river in Kerr County where most of the dead were recovered.

But as authorities launch one of the largest search-and-rescue efforts in recent Texas history, they have come under intensifying scrutiny over preparations and why residents and youth summer camps that are dotted along the river were not alerted sooner or told to evacuate.

The National Weather Service sent out a series of flash flood warnings in the early hours Friday before issuing flash flood emergencies — a rare alert notifying of imminent danger.

Local officials have insisted that no one saw the flood potential coming and have defended their actions.

“There’s going to be a lot of finger-pointing, a lot of second-guessing and Monday morning quarterbacking,” said Republican U.S. Rep. Chip Roy, whose district includes Kerr County. “There’s a lot of people saying ‘why’ and ‘how,’ and I understand that.”

When the warnings began

An initial flood watch — which generally urges residents to be weather-aware — was issued by the local National Weather Service office at 1:18 p.m. Thursday.

It predicted between 5 to 7 inches (12.7 to 17.8 centimeters) of rain. Weather messaging from the office, including automated alerts delivered to mobile phones to people in threatened areas, grew increasingly ominous in the early morning hours of Friday, urging people to move to higher ground and evacuate flood-prone areas, said Jason Runyen, a meteorologist in the National Weather Service office.

At 4:03 a.m., the office issued an urgent warning that raised the potential of catastrophic damage and a severe threat to human life.

Jonathan Porter, the chief meteorologist at AccuWeather, a private weather forecasting company that uses National Weather Service data, said it appeared evacuations and other proactive measures could have been undertaken to reduce the risk of fatalities.

“People, businesses, and governments should take action based on Flash Flood Warnings that are issued, regardless of the rainfall amounts that have occurred or are forecast,” Porter said in a statement.

Officials say they didn’t expect this

Local officials have said they had not expected such an intense downpour that was the equivalent of months’ worth of rain for the area.

“We know we get rains. We know the river rises,” said Kerr County Judge Rob Kelly, the county’s top elected official. “But nobody saw this coming.”

Kerrville City Manager Dalton Rice said he was jogging along the river early in the morning and didn’t notice any problems at 4 a.m. A little over an hour later, at 5:20 a.m., the water level had risen dramatically and “we almost weren’t able to get out of the park,” he said.

Rice also noted that the public can become desensitized to too many weather warnings.

No county flood warning system

Kelly said the county considered a flood warning system along the river that would have functioned like a tornado warning siren about six or seven years ago, before he was elected, but that the idea never got off the ground because of the expense.

“We’ve looked into it before … The public reeled at the cost,” Kelly said.

He said he didn’t know what kind of safety and evacuation plans the camps may have had.

“What I do know is the flood hit the camp first, and it came in the middle of the night. I don’t know where the kids were,” he said. “I don’t know what kind of alarm systems they had. That will come out in time.”

U.S. Secretary of Homeland Security Kristi Noem said Saturday it was difficult for forecasters to predict just how much rain would fall. She said the Trump administration would make it a priority to upgrade National Weather Service technology used to deliver warnings.

“We know that everyone wants more warning time, and that’s why we’re working to upgrade the technology that’s been neglected for far too long to make sure families have as much advance notice as possible,” Noem said during a press conference with state and federal leaders.

Weather service had extra staffers

The National Weather Service office in New Braunfels, which delivers forecasts for Austin, San Antonio and the surrounding areas, had extra staff on duty during the storms, Runyen said.

Where the office would typically have two forecasters on duty during clear weather, they had up to five on staff.

“There were extra people in here that night, and that’s typical in every weather service office — you staff up for an event and bring people in on overtime and hold people over,” Runyen said.



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SpaceX to offer insider shares at record-setting $800 billion valuation

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SpaceX is preparing to sell insider shares in a transaction that would value Elon Musk’s rocket and satellite maker at as much as $800 billion, people familiar with the matter said, reclaiming the title of the world’s most valuable private company. 

The details, discussed by SpaceX’s board of directors on Thursday at its Starbase hub in Texas, could change based on interest from insider sellers and buyers or other factors, said some of the people, who asked not to be identified as the information isn’t public. SpaceX is also exploring a possible initial public offering as soon as late next year, one of the people said. 

Another person briefed on the matter said that the price under discussion for the sale of some employees and investors’ shares is higher than $400 apiece, which would value SpaceX at between $750 billion and $800 billion. The company wouldn’t raise any funds though this planned sale, though a successful offering at such levels would catapult it past the record of $500 billion valuation achieved by OpenAI in October.

Elon Musk on Saturday denied that SpaceX is raising money at a $800 billion valuation without addressing Bloomberg’s reporting on the planned offering of insiders’ shares. 

“SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” Musk said in a post on his social media platform X. 

The share sale price under discussion would be a substantial increase from the $212 a share set in July, when the company raised money and sold shares at a valuation of $400 billion. The Wall Street Journal and Financial Times earlier reported the $800 billion valuation target.

News of SpaceX’s valuation sent shares of EchoStar Corp., a satellite TV and wireless company, up as much as 18%. Last month, EchoStar had agreed to sell spectrum licenses to SpaceX for $2.6 billion, adding to an earlier agreement to sell about $17 billion in wireless spectrum to Musk’s company.

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The world’s most prolific rocket launcher, SpaceX dominates the space industry with its Falcon 9 rocket that lifts satellites and people to orbit.

SpaceX is also the industry leader in providing internet services from low-Earth orbit through Starlink, a system of more than 9,000 satellites that is far ahead of competitors including Amazon.com Inc.’s Amazon Leo.

Elite Group

SpaceX is among an elite group of companies that have the ability to raise funds at $100 billion-plus valuations while delaying or denying they have any plan to go public. 

An IPO of the company at an $800 billion value would vault SpaceX into another rarefied group — the 20 largest public companies, a few notches below Musk’s Tesla Inc. 

If SpaceX sold 5% of the company at that valuation, it would have to sell $40 billion of stock — making it the biggest IPO of all time, well above Saudi Aramco’s $29 billion listing in 2019. The firm sold just 1.5% of the company in that offering, a much smaller slice than the majority of publicly traded firms make available.

A listing would also subject SpaceX to the volatility of being a public company, versus private firms whose valuations are closely guarded secrets. Space and defense company IPOs have had a mixed reception in 2025. Karman Holdings Inc.’s stock has nearly tripled since its debut, while Firefly Aerospace Inc. and Voyager Technologies Inc. have plunged by double-digit percentages since their debuts.

SpaceX executives have repeatedly floated the idea of spinning off SpaceX’s Starlink business into a separate, publicly traded company — a concept President Gwynne Shotwell first suggested in 2020. 

However, Musk cast doubt on the prospect publicly over the years and Chief Financial Officer Bret Johnsen said in 2024 that a Starlink IPO would be something that would take place more likely “in the years to come.”

The Information, citing people familiar with the discussions, separately reported on Friday that SpaceX has told investors and financial institution representatives that it’s aiming for an IPO of the entire company in the second half of next year.

Read More: How to Buy SpaceX: A Guide for the Eager, Pre-IPO

A so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in closely held companies such as SpaceX a way to generate liquidity.

SpaceX is working to develop its new Starship vehicle, advertised as the most powerful rocket ever developed to loft huge numbers of Starlink satellites as well as carry cargo and people to moon and, eventually, Mars.



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National Park Service drops free admission on MLK Day and Juneteenth while adding Trump’s birthday

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The National Park Service will offer free admission to U.S. residents on President Donald Trump’s birthday next year — which also happens to be Flag Day — but is eliminating the benefit for Martin Luther King Jr. Day and Juneteenth.

The new list of free admission days for Americans is the latest example of the Trump administration downplaying America’s civil rights history while also promoting the president’s image, name and legacy.

Last year, the list of free days included Martin Luther King Jr Day and Juneteenth — which is June 19 — but not June 14, Trump’s birthday.

The new free-admission policy takes effect Jan. 1 and was one of several changes announced by the Park Service late last month, including higher admission fees for international visitors.

The other days of free park admission in 2026 are Presidents Day, Memorial Day, Independence Day, Constitution Day, Veterans Day, President Theodore Roosevelt’s birthday (Oct. 27) and the anniversary of the creation of the Park Service (Aug. 25).

Eliminating Martin Luther King Jr. Day and Juneteenth, which commemorates the day in 1865 when the last enslaved Americans were emancipated, removes two of the nation’s most prominent civil rights holidays.

Some civil rights leaders voiced opposition to the change after news about it began spreading over the weekend.

“The raw & rank racism here stinks to high heaven,” Harvard Kennedy School professor Cornell William Brooks, a former president of the NAACP, wrote on social media about the new policy.

Kristen Brengel, a spokesperson for the National Parks Conservation Association, said that while presidential administrations have tweaked the free days in the past, the elimination of Martin Luther King Jr. Day is particularly concerning. For one, the day has become a popular day of service for community groups that use the free day to perform volunteer projects at parks.

That will now be much more expensive, said Brengel, whose organization is a nonprofit that advocates for the park system.

“Not only does it recognize an American hero, it’s also a day when people go into parks to clean them up,” Brengel said. “Martin Luther King Jr. deserves a day of recognition … For some reason, Black history has repeatedly been targeted by this administration, and it shouldn’t be.”

Some Democratic lawmakers also weighed in to object to the new policy.

“The President didn’t just add his own birthday to the list, he removed both of these holidays that mark Black Americans’ struggle for civil rights and freedom,” said Democratic Sen. Catherine Cortez Masto of Nevada. “Our country deserves better.”

A spokesperson for the National Park Service did not immediately respond to questions on Saturday seeking information about the reasons behind the changes.

Since taking office, Trump has sought to eliminate programs seen as promoting diversity across the federal government, actions that have erased or downplayed America’s history of racism as well as the civil rights victories of Black Americans.

Self-promotion is an old habit of the president’s and one he has continued in his second term. He unsuccessfully put himself forwardfor the Nobel Peace Prize, renamed the U.S. Institute of Peace after himself, sought to put his name on the planned NFL stadium in the nation’s capital and had a new children’s savings program named after him.

Some Republican lawmakers have suggested putting his visage on Mount Rushmore and the $100 bill.



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JPMorgan CEO Jamie Dimon says Europe has a ‘real problem’

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon called out slow bureaucracy in Europe in a warning that a “weak” continent poses a major economic risk to the US.

“Europe has a real problem,” Dimon said Saturday at the Reagan National Defense Forum. “They do some wonderful things on their safety nets. But they’ve driven business out, they’ve driven investment out, they’ve driven innovation out. It’s kind of coming back.”

While he praised some European leaders who he said were aware of the issues, he cautioned politics is “really hard.” 

Dimon, leader of the biggest US bank, has long said that the risk of a fragmented Europe is among the major challenges facing the world. In his letter to shareholders released earlier this year, he said that Europe has “some serious issues to fix.”

On Saturday, he praised the creation of the euro and Europe’s push for peace. But he warned that a reduction in military efforts and challenges trying to reach agreement within the European Union are threatening the continent.

“If they fragment, then you can say that America first will not be around anymore,” Dimon said. “It will hurt us more than anybody else because they are a major ally in every single way, including common values, which are really important.”

He said the US should help.

“We need a long-term strategy to help them become strong,” Dimon said. “A weak Europe is bad for us.”

The administration of President Donald Trump issued a new national security strategy that directed US interests toward the Western Hemisphere and protection of the homeland while dismissing Europe as a continent headed toward “civilizational erasure.”

Read More: Trump’s National Security Strategy Veers Inward in Telling Shift

JPMorgan has been ramping up its push to spur more investments in the national defense sector. In October, the bank announced that it would funnel $1.5 trillion into industries that bolster US economic security and resiliency over the next 10 years — as much as $500 billion more than what it would’ve provided anyway. 

Dimon said in the statement that it’s “painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing.”

Investment banker Jay Horine oversees the effort, which Dimon called “100% commercial.” It will focus on four areas: supply chain and advanced manufacturing; defense and aerospace; energy independence and resilience; and frontier and strategic technologies. 

The bank will also invest as much as $10 billion of its own capital to help certain companies expand, innovate or accelerate strategic manufacturing.

Separately on Saturday, Dimon praised Trump for finding ways to roll back bureaucracy in the government.

“There is no question that this administration is trying to bring an axe to some of the bureaucracy that held back America,” Dimon said. “That is a good thing and we can do it and still keep the world safe, for safe food and safe banks and all the stuff like that.”



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