Good Morning. A demilitarized buffer zone requires both armies to trust each other first. We break down why Ukraine's ceasefire proposal faces long odds.

We also include comedy's political shift, small airport popularity, and college football’s boom (Forwarded this email? Join 523k readers who get a little better every day.

Ukrainian President Volodymyr Zelensky announced this week he would withdraw troops from parts of eastern Ukraine under a US-backed peace plan. The proposal creates a demilitarized "economic free zone" in Donbas as a buffer with Russian-held territory.

Zelensky's 20-point strategy requires reciprocal Russian withdrawals and a national referendum. Russia demanded Ukraine withdraw from Donbas entirely, which Ukraine rejected. US negotiators sought middle ground through "potential economic zones" satisfying both sides.

US negotiators deliver the draft to Moscow on Christmas Eve. If Putin approves, Trump, Zelensky, and European leaders must sign. A ceasefire along current front lines could establish before troop movements begin. Zelensky’s peace concessions.

College football attendance hit an NCAA record of nearly 39 million spectators last year, with this season on pace to match. TV viewership reached all-time highs during the regular season, defying predictions that player transfers and NIL payments would harm the sport.

Transfer rules and revenue-sharing enabled underdog programs to compete. Indiana went undefeated for its first No. 1 ranking. Vanderbilt posted its first 10-win season. Indiana's Fernando Mendoza won the Heisman Trophy; Vanderbilt's Diego Pavia finished second (this weekend’s schedule).

Games became more competitive across conferences. The SEC's average winning margin dropped to 11.5 points—lowest in nearly 20 years. Player mobility allowed bench players at powerhouse programs to transfer and start elsewhere, spreading talent more evenly. More changes here.

Graham Walker sold Fibrebond to Eaton for $1.7 billion in 2024, giving 15% of proceeds—$240 million—to his 540 employees (WSJ). Average bonuses totaled $443,000, paid over five years to those who stay.

The Louisiana manufacturer of electrical equipment enclosures survived a 1998 factory fire and years of struggle before pivoting to data center infrastructure. AI and cloud computing demand drove sales up nearly 400% over five years.

Employees used bonuses to pay mortgages, open businesses, and fund retirements. Walker structured the deal to avoid double taxation and ensure workforce stability during ownership transition. The windfall boosted the 12,000-person town's economy.

▲ How to be more generous.

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The lesson? Stop optimizing. Start deleting. See video.

Every year, great movies come out on Christmas Day. Here’s your list of what to catch this weekend — including Jack Black-Paul Rudd comedy, Timothee Chalamet’s Oscar bait, and Will Arnett in the performance of a lifetime.

And yes, we still wish Liam Neeson’s Missile Tow was a real thing.

▲ Disney's first-ever chief brand officer Ayaz launches "Best Christmas Ever" to depoliticize company after woke wars | Watch here

▲ Small airports surge in popularity as discount carriers bring cheap parking and minimal TSA waits

▲ Unemployment claims fall to 214,000, beating Wall Street's 231,500 prediction ahead of holiday week

▲ Nebraska ranchers battle over outdated branding laws as feedlot owner faces $92,000 fine for paperwork

▲ Comedy podcasts shift rightward as Atlantic examines growing political divide in stand-up and podcast industry

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Beautiful 36-hour Prime Rib [Recipe]

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The Simpsons started at Christmas [Video]