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Health

5 issues to know earlier than the inventory market opens Wednesday, June 2

Here are the most important news, trends and analysis that investors need to start their trading day:

1. June begins with muted trading on Wall Street

Traders work on the floor of the New York Stock Exchange.

NYSE

U.S. stock futures were relatively flat after the Dow gave up most of a 300-point gain by Tuesday’s close. The 30-stock average ended 45 points higher. The first day of June also started out muted for the S&P 500 and Nasdaq as optimism about the economic reopening met lingering angst about inflation. Following strength last month, the Dow and S&P 500 were less than 1% from their May record closes. The Nasdaq, which dropped in May, was nearly 2.9% away from its late April record close.

Offshore oil platforms are seen on April 20, 2020 in Huntington Beach, California.

Michael Heiman | Getty Images

U.S. oil prices jumped 1% on Wednesday to more than $68 per barrel, trading at levels not seen since October 2018. As more and more people are getting out and about in 2021 after months of stay-at-home precautions, U.S. benchmark crude prices have jumped 40% year to date. The spike in oil has been one of many commodities that have increased worries about price pressures in the recovering economy.

2. AMC soars again as it aims to connect with investors

One day after a similar gain, shares of AMC Entertainment skyrocketed 20% in Wednesday’s premarket to more than $38 each, a move that would put the stock at an all-time high at the open. AMC wants to connect with its shareholder base, announcing Wednesday morning a new way for investors in the movie theater chain to sign up for special benefits such as free popcorn.

AMC revealed Tuesday in a securities filing it raised $230.5 million in a stock sale to depressed debt firm Mudrick Capital Management. CNBC’s Andrew Ross Sorkin confirmed that Mudrick sold those new AMC shares immediately for a profit. As of Tuesday’s close, interest among retail investors on Reddit’s WallStreetBets forum pushed AMC shares up 1,400% in 2021.

3. Elon Musk tweets again, sending shares of ‘Baby Shark’ soaring

Shares of Samsung Publishing, a major shareholder in the producer of “Baby Shark,” soared in trading in South Korea trading Wednesday after a tweet by Tesla CEO Elon Musk about the viral children’s song. Musk wrote on Twitter on Tuesday evening: “Baby Shark crushes all! More views than humans.”

According to a Wall Street Journal report, the SEC admonished Musk last spring for allegedly violating terms of a settlement agreement. The financial regulators were incensed by Musk tweets about Tesla’s stock price being too high and those about solar rooftop production numbers without an attorney’s approval.

4. Coinbase Pro gives users option to trade red-hot dogecoin

A visual representation of digital cryptocurrencies Dogecoin and Bitcoin.

Yuriko Nakao | Getty Images News | Getty Images

Dogecoin jumped another 28% to 42 cents per unit Wednesday after Coinbase began offering its Pro users the option to trade the cryptocurrency, which started as a joke but has exploded higher this year. Helped by frequent tweets from Musk and other influencers, dogecoin went from trading at just fractions of a penny in January. However, even with those incredible gains, dogecoin was actually about 40% below last month’s all-time highs.

Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq market site April 14, 2021 in New York City.

Robert Nickelsberg | Getty Images

Coinbase, one of the world’s largest crypto exchanges, went public on the Nasdaq in April and soared as high as $429.54 per share on its first day of trading. The stock closed below its direct listing reference price of $250 last month, and it’s been languishing there for weeks. Coinbase rose about 1% in Wednesday’s premarket after closing up a similar amount Tuesday to $238.93.

5. Largest meat producer getting back online after cyberattack

Employees in the parking lot of the JBS Beef Production Facility in Greeley, Colorado, U.S., on Tuesday, June 1, 2021. A cyberattack on JBS SA, the world’s largest meat producer, has forced the shutdown of some of the largest slaughterhouses globally, and there are signs that the closures are spreading.

Michael Ciaglo | Bloomberg | Getty Images

The world’s largest meat processing company is getting back online after production around the globe was disrupted by a cyberattack just weeks after a similar hack shut down a major U.S. oil pipeline. Brazil’s JBS said late Tuesday it made “significant progress” in dealing with the attack and expects the “vast majority” of its plants to be operating Wednesday. Earlier Tuesday, the White House said JBS notified the U.S. government of a ransom demand from a criminal organization likely based in Russia.

— The Associated Press and Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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Business

JBS cyberattack might strain restaurant margins, analysts say

A worker walks past a mural outside the JBS SA pork processing facility in Louisville, Kentucky, United States on Friday, June 5, 2020.

Luke Sharrett | Bloomberg | Getty Images

The cyberattack on JBS, the world’s largest meat packer, could make restaurants painful if the situation is not resolved quickly, analysts say.

On Tuesday, the Brazilian company said in a statement that it had made “significant strides” in resolving the ransomware attack that was affecting operations in North America and Australia. JBS expects the vast majority of its factories to be back up and running on Wednesday. She initially disclosed the attack on Monday.

Meanwhile, beef prices have risen. The U.S. Department of Agriculture reported that select cuts of beef rose 1.1% to $ 334.56 per 100 pounds on Tuesday. According to the Steiner Consulting Group, JBS accounts for about 23% of the total cattle capacity in the USA.

Andrew Strelzik, an analyst with BMO Capital Markets, wrote in a statement Tuesday that he expects the price environment to normalize once the plants go fully into production. Most large restaurant chains have contracts with their main suppliers to protect them from short-term outages like the JBS attack, according to Strelzik.

“We don’t expect any significant margin impact for restaurants that adopt a relatively quick fix,” he said.

Longer impacts on JBS operations could have bigger ramifications for restaurants that serve beef, including shortages or prolonged inflation.

Truist analyst Jake Bartlett compared the situation to a fire at a Tyson Foods plant in 2019 that affected 5% to 6% of US supply and led to a surge in beef prices the following month.

“The shutdown of the JBS facility is affecting more of the supply, but the supply disruption is likely to be for a much shorter period of time (the Holcomb facility reopened in ~ 5 months),” wrote Bartlett. “This is a bad time to disrupt supply, however, as increasing demand is already straining the supply chain.”

The summer months are already a time of higher demand for beef as the barbecue season begins. Bartlett said he didn’t know which restaurant chains depend on JBS for their beef supplies, but pointed out that Texas Roadhouse, Shake Shack, Burger King franchisees Carrols Restaurant Group, Cracker Barrel and Darden Restaurants are the companies he’s working with covers the highest exposure to beef.

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Business

Etsy is shopping for the style resale app Depop for $1.6 billion.

Depop, the fashion resale marketplace beloved by Generation Z, is to be acquired by Etsy for $1.6 billion, the two companies announced on Wednesday.

The cash deal, which is expected to close by the third quarter of this year, underscores the growing influence of clothing resale platforms. More shoppers are turning to the secondhand market for something cheaper and — potentially — greener as the overproduction of clothing increasingly adds to landfills.

The trend appears to have been accelerated by the pandemic as more shoppers looked to declutter wardrobes, earn cash by selling their old clothes or set up fashion customization businesses from their bedrooms.

Investor appetite is also on the rise. Last month, Europe’s largest secondhand fashion marketplace, Vinted, raised 250 million euros in a funding round that valued the start-up at €3.5 billion ($4.26 billion), while in the United States companies such as ThredUp and Poshmark have gone public this year.

Depop, which was founded in 2011, has been particularly successful in building a marketplace for younger consumers, who are adopting secondhand fashion faster than any other group. Ninety percent of its users are under 26, with 30 million users across 150 countries. The platform is particularly known for its vintage clothes and streetwear — and for creating a new cohort of online influencers famous for selling their wares.

“We are simply thrilled to be adding Depop — what we believe to be the resale home for Gen Z consumers — to the Etsy family,” said the Etsy chief executive, Josh Silverman.

He said he believed the platform had “significant potential to further scale” and said that he saw “significant opportunities for shared expertise and growth synergies” for Etsy’s apparel sector, which was valued at $1 billion last year.

According to the Boston Consulting Group, the global pre-owned apparel market is worth up to $40 billion a year — about 2 percent of the total apparel market. It is expected to grow 15 to 20 percent annually for the next five years.

Categories
Health

For Many Staff, Change in Masks Coverage Is a Nightmare

“Retailers were asking and requiring you to wear masks,” said Willy Solis, a shopper for the delivery app Shipt in Denton, Texas, who works in stores like Target, Kroger and CVS. “A large majority of people were still doing the right thing and wearing them.”

Since the C.D.C. announcement, however, “it’s been a complete shift,” Mr. Solis said. Denton, like Yorktown, sits in a county that supported former President Donald J. Trump by a single-digit margin in the November election.

According to the Kaiser Family Foundation, 97 percent of Democrats said in a March poll that they wore a mask “at least most of the time” when they might be in contact with people outside their homes, and a similar portion of Democrats said they believed masks limit the spread of coronavirus.

That compared with only 71 percent of Republicans who said they wore a mask outside the home at least most of the time, and just half said they thought masks were effective.

That suggests that a significant number of Republicans have worn masks only to comply with rules, not because they believed it was important, said Ashley Kirzinger, the Kaiser foundation’s associate director for public opinion and survey research. She cited polling showing that Republicans were also less likely to be vaccinated.

Matt Kennon, a room-service server at the Beau Rivage Resort and Casino in Biloxi, Miss., said that before the C.D.C. relaxed its recommendations, the resort’s policy was that all guests must wear masks in common areas unless they were eating, drinking or smoking, and that it was strictly enforced.

“There were several security checkpoints around the place where we’d have someone from security let them know, ‘Please put on a mask,’” said Mr. Kennon, a shop steward with his union, UNITE HERE. “There were stations with disposable masks for guests to wear in case they didn’t have one.”

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Politics

Trump escapes FEC sanction for hush cash, Nationwide Enquirer writer pays effective

Karen McDougal, Playboy Playmate of the Year 1998.

Getty Images

The Federal Election Commission will let former President Donald Trump avoid punishment for directing hush money payments to his alleged ex-mistress Karen McDougal — but the publisher of The National Enquirer agreed to pay more than $187,500 for its role in the scandal, records showed Tuesday.

The FEC recently likewise failed to approve a recommendation from staff that it sanction Trump for directing a $130,000 hush money payout to former porn star Stormy Daniels, who has said she had sex with him years ago, according to the advocacy group Common Cause.

That group had filed FEC complaints related to payments to both women.

Trump’s former personal lawyer, Michael Cohen, admitted to paying off Daniels at Trump’s behest shortly before the 2016 presidential election.

In McDougal’s case, American Media — the then-publisher of the tabloid Enquirer, and its boss David Pecker — paid the former Playboy model McDougal $150,000 to keep her quiet about her claims of an affair with Trump before the same election.

Cohen pleaded guilty in 2018 to federal campaign finance violations related to facilitating payoffs to both women, as well as to other crimes, and served more than a year in prison.

AMI signed a non-prosecution agreement with the U.S. Department of Justice in which it admitted it made the payment to McDougal to avoid her going public about her alleged affair and influencing the 2016 election.

The company’s payment to the FEC came in response to a finding by the commission that AMI and Pecker had knowingly and willfully violated campaign finance law by making “prohibited corporate in-kind contributions” to Trump’s campaign with the payoff to McDougal.

Federal prosecutors have said, without actually naming Trump, that he directed Cohen to facilitate the payments to both women. Trump was never criminally prosecuted in the case.

“Trump masterminded this whole thing, and so far he’s walked,” Common Cause vice president of policy and litigation Paul Ryan said.

“Everyone who carried out his dirty work here, Cohen and AMI, paid penalties and did prison time.”

“It’s good news that the Federal Election Commission is holding the tabloid company AMI accountable for its illegal actions in the 2016 election,” Ryan added. “But it’s head-scratching that the mastermind of this criminal enterprise, Donald Trump, has still not been held accountable.”

Trump has denied having sex with either McDougal or Daniels. But he and his company reimbursed Cohen for his payment to Daniels.

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Read more of CNBC’s politics coverage:

Common Cause provided CNBC copies of FEC records it received in connection with the case on Tuesday.

In a letter to Ryan, acting FEC general counsel Lisa Stevenson wrote: “The Commission found reason to believe that respondents David J. Pecker and American Media, Inc. knowingly and willfully violated 52 U.S.C. § 30118(a).”

“On May 17, 2021, a conciliation agreement signed by A360 Media, LLC, as successor in interest to American Media, Inc. was accepted by the Commission and the Commission closed the file as to Pecker and American Media, Inc.,” the letter said.

The letter went on to say: “There were an insufficient number of votes to find reason to believe that the remaining respondents violated the Federal Election Campaign Act of 1971.”

Ryan said the other respondents were Trump and his election committee.

AMI merged last year with the wholesale distribution and logistics company Accelerate360, with the merged entity known as A360Media. Pecker stepped aside as CEO and became an executive advisor, according to press reports at the time.

Ryan said he suspects that two Republican FEC commissioners who voted against sanctioning Trump for the Daniels hush money payments also voted against punishing him for the McDougal payments. Two Democratic commissioners voted to continue the probe.

The Washington Post reported last month that those two GOP commissioners, Sean Cooksey and Trey Trainor, “said they voted to dismiss the case because it was ‘statute-of-limitations imperiled’ and that pursuing it further would be a poor use of agency resources.”

The Post also noted that, “They argued that because there had been other federal inquiries into the incident — namely the Justice Department probe that led to Cohen’s prosecution — an FEC case would be redundant.”

Ryan said the votes will eventually be publicly disclosed by the FEC.

An FEC spokeswoman declined to comment, saying records in the case were not yet cleared by public release by the agency.

CNBC has sought comment from A360 and a representative for Trump.

Categories
World News

Sri Lanka’s Zoo Animals Are Having a Pandemic Child Growth

COLOMBO, Sri Lanka – To prevent the worst of the devastation from Covid, Sri Lanka imposed lockdowns and suspended flights from overseas for almost a year, weakening the economy and drying up a vital tourism industry.

However, it was a fun time for animals in the island nation’s zoos.

Given the absence of visitors, animal births at zoos rose 25 percent last year, according to Ishini Wickremesinghe, director general of the Sri Lankan Department of National Zoological Gardens. Particularly noticeable, she said, was that several animals were born that have no breeding history in local zoos.

“Animals actually have a less stressful and relaxed time without people,” she said.

Sri Lanka closed its zoos in March 2020 and briefly reopened them to visitors earlier this year before closing again as coronavirus infections rose. The animals bred for the first time include a black swan, a white peacock and a Nilgai, the largest antelope in Asia. Others who have produced offspring include an Arabian oryx, a black duck, a scimitar-horned oryx, and a zebra.

“We also have three new lion cubs,” said Ms. Wickremesinghe. “After years, the animals really got a good break.”

The boys are now about six months old. With no visitors nearby, adult lions can roam freely in their enclosures and group together with potential companions.

In Sri Lanka’s wildlife parks, officials have not been able to confirm whether the brood is increasing, but the animals are “definitely stress-free,” said Manoj Vidyaratne, the overseer of Yala National Park on the island’s southeast coast. “We usually see around 400 vehicles in the park every day,” he said, “but this time nobody is there.”

Creatures in captivity elsewhere have also taken advantage of the pandemic to reproduce. Last April, two giant pandas successfully mated at the Hong Kong Zoo, which was closed to visitors due to the coronavirus.

Sri Lanka, an early success story in containing the spread of the virus, has seen a surge recently, registering nearly 3,000 new infections daily, according to a New York Times database. The pandemic has exacerbated the economic hardship of a country that struggled to recover from the terrorist attacks as early as 2019.

Sri Lanka’s zoos, which are home to around 4,000 species of animals, are among the main attractions of the tourism-dependent country, drawing more than three million visitors a year before the pandemic.

Despite the impact on revenue, Ms. Wickremesinghe said she hoped to keep the zoos closed until cases fell amid fears that primates could catch Covid-19 from an infected visitor. “We don’t know what to do when that happens,” she said.

Categories
Business

Zoom Video, Hewlett Packard Enterprise, Ambarella & extra

Zoom founder Eric Yuan poses in front of the Nasdaq building as the video conferencing software company Zoom’s logo appears on the screen after the opening bell on April 18, 2019 in New York City.

Hit by Betancur | Getty Images

Check out the companies that hit the headlines on Tuesday after the bell:

Zoom Video – Stocks of the video messaging platform rose 2.7% after the company beat sales and earnings estimates in the first quarter. Zoom made $ 1.32 per share on an adjusted basis on sales of $ 956 million. Analysts surveyed by Refinitiv expected the company to make 99 cents per share on sales of $ 906 million.

Hewlett Packard Enterprise – HPE shares fell 2.1% as the company’s second quarter results exceeded expectations. HPE earned 46 cents per un-itemed share during the period, which was above the 42-cents earnings analysts surveyed by Refinitiv. Revenue at $ 6.7 billion was also above the expected $ 6.62 billion.

Ambarella – The camera equipment manufacturer’s stock rose 4.3% following its first quarter results. Ambarella earned 23 cents per share with no items and had sales of $ 70.1 million. FactSet estimates The Street expected 17 cents on $ 68.6 million in sales.

Scotts Miracle-Gro – The lawn company’s shares rose less than 1% after the company raised its forecast for the year. In a statement, the company said the improved outlook was mainly due to stronger growth in the US

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Health

Do vaccine incentives work? Krispy Kreme says freebies have helped

What will it take to convince people to get vaccinated against Covid? From free doughnuts to million-dollar payouts, public and private groups are trying it all.

In March, Krispy Kreme was one of the first businesses to roll out a nationwide Covid vaccine incentive, offering a free glazed doughnut to any adult with a vaccination card.

Since then, the company said it has given away more than 1.5 million doughnuts. (The offer still stands through the remainder of the year.)

“We were the first national brand to launch a campaign to show support for Americans choosing to get vaccinated, and we were hopeful that others would join us,” said Dave Skena, chief marketing officer at Krispy Kreme.

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“So, it’s very gratifying to see so many companies, organizations, communities and even state governments encouraging and incentivizing people to protect themselves and others by getting vaccinated.”

While some states, like New Jersey and Connecticut, are offering a free beer or nonalcoholic beverage to encourage more people to get vaccinated against Covid, others like Ohio and Maryland have gone much further. 

Last week, Maryland held the first of its $40,000 lottery drawings for people who have been vaccinated. There will be 40 consecutive days of drawings for a $40,000 prize, ending on July 4 with a final drawing for a $400,000 payout.

Ohio is also holding a series of drawings for cash prizes, although its “Vax-a-Million” contest ups the ante significantly.

The latest data from the Centers for Disease Control and Prevention shows that about half of the U.S. population has had at least one shot — and yet, the pace of Covid vaccinations has slowed nationwide.

Incentives may become increasingly important to move the needle from here, according to Bob Bollinger, a professor of infectious diseases at the Johns Hopkins University School of Medicine and inventor of the emocha Health app.

“It really depends on what the barriers are that people have about getting vaccinated,” Bollinger said. The higher those barriers are, the harder they are to overcome, he added.

A handful of states have reported that vaccine incentive programs have increased local vaccination numbers in some demographics after recent drops.

For its part, Ohio said its vaccination rates doubled in some counties after the state vaccine lottery was announced.

Recent data shows that the gambit might be more effective among certain demographics, but with little downside overall, according to a report by Morning Consult.

The poll of 2,200 adults, including nearly 1,600 people who are unvaccinated, found that men are more inclined than women to say these offers would make them sign up to receive a shot. Democrats, more than Republicans, also said they’d be more likely to get vaccinated if they could get free goods or services and, when broken down by generation, millennials were the most likely to say certain freebies would motivate them to get vaccinated.

An earlier survey by Blackhawk Network found that more than two-thirds of adults said they would accept a monetary incentive ranging from as little as $10 to as much as $1,000. One-third said they would get vaccinated for $100 or less. Blackhawk Network polled more than 2,000 adults in January.

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Business

E.E.O.C. Explains Office Vaccine Mandates

At the urging of business groups, the Equal Employment Opportunity Commission has made clear how companies can issue vaccine mandates to workers coming back to the office, and what incentives those employers can offer to promote inoculation.

Companies can require vaccines only of employees returning to the workplace, and not those who work outside the office, the E.E.O.C. said in guidance released on Friday. But doing so still counts as a mandate, so companies must give the same legally required considerations that companywide vaccine requirements would entail, like making accommodations under the Americans with Disabilities Act for employees who can’t receive the vaccine. That means allowing for exceptions for those who may be unable to take the vaccine for health reasons, like an allergy.

Jessica Kuester, an employment benefits lawyer at the law firm Ogletree Deakins, said that specification was important. “I worry that some employers were sort of going down the wrong path, and thinking that it wasn’t that big of a deal to have a vaccination requirement,” she said.

The E.E.O.C. acknowledged in its guidance there may be other laws — like state laws — that offer opposing views. And it reminded employers to consider the fact that access to the vaccine is not yet equitably distributed.

“Employers should keep in mind that because some individuals or demographic groups may face greater barriers to receiving a Covid-19 vaccination than others, some employees may be more likely to be negatively impacted by a vaccination requirement,” the agency wrote.

Employers can also offer vaccine incentives, as long as they are not coercive, the E.E.O.C. clarified. (Under nondiscrimination rules laid out in the Health Insurance Portability and Accountability Act, that could mean, for example, offering 30 percent discount of the total cost of medical plan coverage).

Employers can offer enticements like paid time off to get vaccinated — which Darden Restaurants and many other companies have done, as well as rewards for employees who show proof of inoculation, like the $75 bonus that Walmart is offering. Companies have also been offering the opportunity to go mask-free at the office as a type of inducement, though several aren’t asking for proof of vaccination, perhaps as a concession to practicality.

“Are you really going to go around and, when you see an employee without a mask, are you going to run back to H.R. and verify that that person really was fully vaccinated?” Ms. Kuester said.

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Entertainment

Was 1971 the Yr ‘Music Modified Every thing’?

Everything changed with the music of 1971. No, wait. It was 1973. Check if – 1974 was the year, except it was music, film, and television but only in Los Angeles.

If you’re writing a book or adapting one for television, you could do worse than picking a specific year as your organizational principle. This is especially true when you’re dealing with the tumultuous early 70s, when pop culture went up in flames and then regularly rose again.

The last to take on this challenge are the makers of “1971: The Year That Music Changed Everything”, based on the David Hepworth book “Never a Dull Moment: 1971 – The Year That Rock Exploded”. The eight-part documentary series, which was fully released on Apple TV + last week, offers plenty of evidence that their human subjects are as convinced of the premise as they usually are. “Music said something,” says Chrissie Hynde of the opening credits; “We created the 21st century in 1971,” says David Bowie.

But as difficult as it may be to avoid boomer bias – after all, a sense of generational self-esteem is anchored in the premise – it is perhaps even more difficult to limit the scope of such efforts to a single year: Did the music of 1971? really change things than ’72? What would 1969 say about that? How can you even start making the case?

“Sometimes you have to make a bold statement,” said Asif Kapadia, the series’ overall director and one of the executive producers, on a video call from London. “Our research revealed something amazing about this particular moment when it comes after the 60s, when it comes as a turning point in relation to the 70s.”

The series brings together so many captivating clips and stringing together so much recent history that it is hard to deny the results whether you buy the premise or not.

In 1971 Marvin Gaye transformed the protest song with the sublime “What’s Going On”; the Rolling Stones pounded on their raw classic “Exile on Main St”. (and copious amounts of heroin) in a rented villa in the south of France; Aretha Franklin showed her public solidarity with the imprisoned black activist Angela Davis; and David Bowie wrote the book on rock ‘n’ roll androgyny.

It was also a remarkable coming-out year for female artists. Carole King, who split from husband and songwriting partner Gerry Goffin in 1968, released Tapestry in 1971 and Joni Mitchell released Blue after her relationship with Graham Nash ended. These weren’t just great albums; there were also personal expressions of independence, resounding screams of defiance and vulnerability in a world that was still often male.

But life just doesn’t organize itself in 12 month periods, even if books and TV series dictate it. No project of this kind could provide the right context without spending time, for example with the Manson family massacre and the Altamont, California disaster in which four people died in a free concert with the Rolling Stones headline – two events from 1969, which signaled the end of the flower power era. The Kent state shootings of 1970 were another such trailblazer that helped set the table for the mood and music to come.

Even if it digresses from 1971, this is top notch cultural history with a killer beat. Sometimes you bend the rules a little.

Think Bowie, who has the last word on the series. The Man Who Sold the World was released in 1970 in the United States, but in 1971 in Bowie’s native England. He recorded the majority of “The Rise and Fall of Ziggy Stardust and the Spiders From Mars,” which is the highlight of the series, in 1971, but the album was released in 1972. Similarly, the Stones recorded most of “Exile” in this mansion in ’71, but they ended it in ’72, the year the album was released.

“We had a very basic rule that it had to have a very strong footprint in 1971,” said Danielle Peck, the series producer who directed four of the episodes. “It could start in 1969 and end two years later. But most of the event had to be felt in ’71 because we had to have a way to filter out all of these amazing stories. “

Of course, you can remove any ambiguity by adopting subjectivity. Pointing out that he turned 21 in 1971 – and that we probably all consider this personal milestone special – Hepworth doubles in his book: “There is an important difference between me and 1971,” he writes. “The difference is this. I am right.”

At least he thinks he’s right. When Ronald Brownstein, Senior Editor at The Atlantic, decided to celebrate a year, he chose 1974 and decided to include music, film and television. He also limited his geographic focus to the entertainment hub, Los Angeles, which was much more sleepy then than it is now.

The resulting book “Rock Me on the Water: 1974 – The Year Los Angeles Transformed Movies, Music, Television and Politics” is a strong argument. Brownstein saw ’74 as the end of an era.

“Losing LA’s cultural supremacy has made a far greater change in American life,” he writes. “The most memorable works of Los Angeles in the early 1970s – from ‘Chinatown’ to ‘All in the Family’ to Jackson Browne’s great album ‘Late for the Sky’ – emerged from the collision of 1960s optimism with growing cynicism and pessimism of the 70s. “

But let’s play the devil’s advocate for a moment with “1971”. What if Hepworth’s Certainty is Justified? What if 1971 is really the be-all and end-all of rock and pop, and not just a year of a lot of cool music coming out? What if “I’m right” isn’t arrogance but accuracy?

A list of 1971 publications is certainly daunting. In addition to those already mentioned, there was Black Sabbath’s “Master of Reality”; Cans “Tago Mago”; the “LA Woman” of the Doors; Aretha Franklin’s “Aretha Live at Fillmore West”; “Led-Zeppelin IV”; John Lennon’s “Imagine”; Bill Withers “Just As I Am”; and Sly and the Family Stones “There’s a Riot Goin ‘On” to start with.

Not bad, says 1972. But look here: Nick Drake’s “Pink Moon”; Curtis Mayfield’s “Superfly”; Lou Reed’s “Transformer”; the Staple Singers’ Be Altitude: Respect Yourself and so on.

Quality is in the ear of the beholder – only the writer Andrew Grant Jackson has depicted the meaning of the years 1965 and 1973 in book length – and to his credit, “1971” is aware of this. At best, it avoids the album checklist game that takes up the source book in favor of a decisive cultural history.

It shows the uprising in the prison in Attica and his statements about racial incarceration discrepancies and the conditions of detention in general. It deals with the obscenity allegations made by the British government against Oz, an underground magazine that sparked outrage when 20 teenagers published a special “schoolchildren” issue. (Among the publication’s loudest defenders: John Lennon and Yoko Ono.)

It was a time of social upheaval, not just great music. But they were encouraged by the music, by the empowerment of women and African American and gender warriors. Was 1971 the gold standard for pop, rock and soul? Any answer would be steeped in subjectivity. But it was absolutely a step out of the 60s into a hectic new era, difficult to define but rich in conflict and opportunity.

“I’m sure different people have different arguments,” Kapadia said, “but our point was that at that moment, with the end of the Beatles and the start of other artists, something special happened, who then create what we see now can. “was the music of the future.”

When you see 1971, it’s probably best not to worry if it was “the year music changed everything”. Perhaps it is enough just to appreciate the era and its soundtrack without checking the title.

Now let’s take a look at which albums came out in 1975.