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The boss of a Peloton rival threw his hat in the ring to lead the struggling exercise bike maker after the company’s current chief stepped down Thursday.

Lou Lentine, who founded and heads privately held Echelon, claimed he could do a better job of rescuing Peloton than exiting CEO Barry McCarthy, a former Netflix and Spotify executive hired in 2022.

Peloton needs someone who knows the industry, Lentine told The Post. Im running the same company but smaller and we are doing the same things every day but better with fewer employees and less debt.

However, Lentine is not holding his breath that Peloton’s board will take his offer seriously. The rivals settled a years-long legal battle over patents in 2022. At the time, McCarthy turned down Lentine’s proposal to merge the two companies.

“There was a discussion in New York and he politely declined additional discussion,” Lentine told The Post.

Even if the Peloton board came calling this time, Lentine said he would not walk away from Echelon. Instead, the Chattanooga, Tenn. companys largest investor said he would make Echelon products available under the Peloton banner. 

Peloton did not immediately respond for comment about Lentine’s desire to lead the company or past discussions about a possible merger.

Peloton, which controls roughly 75% of the connected fitness industry, has been slow to recover from its pandemic heights — when locked-down fitness buffs were put on waiting lists for the company’s pricey stationary bikes.

McCarthy’s departure was announced along with the company saying it will slash 400 jobs as its once-soaring stock price continued to crater. Shares have plunged 46% this year, closing at $3.14 on Thursday — continuing a downhill trajectory after peaking at $167 in December 2020.

They are hurting the industry so badly with their constant negative news, Lentine griped.

McCarthy was tapped to replace Peloton founder John Foley, who made a number of high-profile blunders, including an ill-fated expansion plan during the pandemic.

The brash executive also alienated customers, investors and employees alike when the companys bikes were recalled for safety reasons and a toddler was killed and Foley claimed that accidents were the result of customers not following manufacturers guidelines. 

Peloton also has a history of attacking competitors, including SoulCycle,  iFIT and Lululemon, with Foley allegedly calling the strategy a winner-take-all approach, according to court filings.

Echelon had accused Peloton of violating antitrust laws with its pattern of squashing competitors.

Details of their 2022 settlement were not made public.

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Trump set to sign bill to end longest ever US shutdown after funding deal passes Congress

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Trump set to sign bill to end longest ever US shutdown after funding deal passes Congress

The US federal government’s longest-ever shutdown is to come to an end after Congress finally voted through a funding deal.

The shutdown, which started on 1 October, has disrupted the lives of millions of Americans as all non-essential parts of government have been frozen.

It came after Democrats and Republicans refused to budge in their stand-off over healthcare spending, causing the first shutdown in almost seven years as the parties failed to agree on a government funding bill.

But on Wednesday night in Washington DC, the House of Representatives voted through a deal to reopen the government after the Senate – the upper chamber of Congress – reached a deal on Monday.

It will now go to the desk of President Donald Trump, who the White House has said will sign it tonight. It will fund the government through to 30 January.

The standoff was largely over healthcare differences. Pic: AP
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The standoff was largely over healthcare differences. Pic: AP

How shutdown reached its end

The breakthrough came over the weekend, when a handful of Democrats in the Senate rebuffed their party’s leadership and teamed up with Republicans to strike a deal.

The Democrats had refused to support a Republican budget plan unless tax credits that made medical insurance cheaper for millions of people were renewed.

The willingness of eight moderate Democrats to break the Senate deadlock without that guarantee has provoked fury among many in the party.

While it will restore funding to federal agencies that have gone without since 1 October, and also prevent any further layoffs until 30 January, many voters will be left to count the cost of higher costs for their healthcare.

What’s a federal government shutdown?

A shutdown of the federal government means that all non-essential functions of government are frozen, affecting everything from social security to air travel to national park access.

Federal agencies are dependent on funding being approved by Congress to allow the president to sign budget legislation for the fiscal year ahead.

If they cannot approve funding (because of political differences – and America is bitterly divided) then those agencies are forced to shut down.

This means that workers cannot do their jobs and are not paid.

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UK

Resident doctor strikes: I don’t want people to suffer but we have to walk out again, says BMA chief

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Resident doctor strikes: I don't want people to suffer but we have to walk out again, says BMA chief

The British Medical Association (BMA) has defended a new round of resident doctor walkouts starting on Friday, insisting medics’ pay is still “way down” compared with 2008 and that the government has failed to finish “a journey” towards restoring it.

BMA chair Dr Tom Dolphin told Sky News the dispute remains rooted in years of pay erosion that have left resident doctors far behind other public sector workers.

“When we started the dispute, […] the lowest level of the resident doctors were being paid £14 an hour,” he said.

“There were some pay rises over the last couple of years that brought that partly back to the value it should be at, but not all the way.

“The secretary of state (Wes Streeting) himself called it a journey, implying there were further steps to come, but we haven’t seen that.”

Resident doctors outside Newcastle's Royal Victoria Infirmary during a five-day strike in July. File pic: PA
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Resident doctors outside Newcastle’s Royal Victoria Infirmary during a five-day strike in July. File pic: PA

When asked if the row ultimately “comes down to money”, he replied: “In the sense that the secretary of state doesn’t want to or isn’t able to fund the pay increases to match the value that we had in 2008.”

Dr Dolphin argued that while “the general worker in the economy as a whole” has seen pay catch up since the 2008 financial crash, “doctors are still way down”.

The government points out that its 29% settlement last year was one of the largest in the public sector and was intended to draw a line under two years of walkouts.

How much do resident doctors earn?

After the most recent pay awards, in 2025/26 a medic just out of university receives a basic salary of £38,831 and has estimated average earnings of £45,900 after factors like extra pay for unsociable hours are taken into account, according to medical think tank the Nuffield Trust.

That average figure rises to £54,400 by the second year and a more senior speciality registrar earns an average of £80,500.

The BMA says that when the dispute started, the most junior doctors were making around £14 per hour. That works out at £29,120 per year for a 40-hour week.

That’s very close to the earnings of a doctor fresh out of medical school in 2022/23 – £29,384, according to Full Fact.

But that’s over a 52-week year without taking into account paid holiday or unsociable hours.

But Dr Dolphin said the deal still fell short: “The gap was biggest for doctors and needed the biggest amount of restoration, and that’s what we got.”

He defended the BMA’s use of the Retail Price Index (RPI), a metric rejected by the Office for National Statistics, saying it “better reflects the costs people face”.

Should resident doctors get a pay rise? Have your say in the poll at the bottom of this story.

Dr Tom Dolphin says resident doctors are still underpaid
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Dr Tom Dolphin says resident doctors are still underpaid

‘Who do you think is treating the patients?’

With Chancellor Rachel Reeves preparing her budget amid warnings of deep cuts, Dr Dolphin said the BMA is not demanding an immediate cash injection.

“We’re quite happy for that money to be deferred with some kind of multi-year pay deal so that we can end the dispute and avoid having further industrial action about pay for several years to come,” he said.

“Money spent in the NHS is returned to the economy. For every pound you spend, you get several pounds back.”

When pressed on whether the £1.7bn cost of previous strike action could have been better spent on treatment and technology for NHS cancer patients, he hit back: “Who do you think is treating the cancer patients? It’s the doctors.”

Read more on Sky News:
Thousands of NHS redundancies
Sentence and fine over patient death

Health Secretary Wes Streeting has criticised the BMA for striking again. File pic: PA
Image:
Health Secretary Wes Streeting has criticised the BMA for striking again. File pic: PA

Strikes will cause disruption, union boss admits

Dr Dolphin rejected suggestions that the dispute could destabilise the government, calling the idea “implausible”.

He admitted prolonged strikes have tested public patience, but said the government had left doctors with no choice.

“A prolonged industrial dispute makes people annoyed with both sides,” he said. “It is vexing to us that we are still in this dispute.”

“I don’t want patients to suffer,” he added. “I accept that the strikes cause disruption… of course that’s upsetting for them. I completely get that. And I’m sorry that it’s happening.”

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UK

PM apologises to health secretary over coup accusations

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PM apologises to health secretary over coup accusations

Sir Keir Starmer has apologised to his health secretary after allies of the prime minister accused him of plotting a coup.

Sky News understands Sir Keir spoke briefly to Wes Streeting on Wednesday evening, though did not share details about the briefing campaign.

Politics Hub: Follow latest updates

Speaking at Prime Minister’s Questions earlier in the day, he denied authorising the attacks on Mr Streeting, who was accused of planning a leadership challenge after the budget later this month.

Mr Streeting said the allegations are “not true”, telling Sky News’ Mornings With Ridge And Frost that whoever was behind the briefings had been “watching too much Celebrity Traitors”.

He insisted he was loyal to the prime minister, who has been under mounting pressure as he and the Labour Party flounder behind Reform in the polls.

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Health secretary insists he’s ‘a faithful’

Downing Street went on the attack on Tuesday night to ward off any potential challenge to Sir Keir after the budget, which could see the government announce manifesto-breaking tax rises.

Sir Keir and Rachel Reeves have refused to rule out raising income tax, national insurance, or VAT.

One senior figure told Sky News political editor Beth Rigby while a post-budget challenge is unlikely, it could come if next May’s elections – including in London and Wales – go badly for Labour.

Labour face a challenge from Reform on the right and parties like the Greens and Plaid Cymru on the left.

Read more: How No 10 plunged itself into crisis

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Starmer backs Streeting at PMQs

Also under pressure is the prime minister’s chief of staff, Morgan McSweeney, after Mr Streeting hit out at a “toxic culture” inside Number 10.

Sir Keir failed to say he had “full confidence” in him at PMQs in response to questions from Kemi Badenoch, but the prime minister’s political spokesperson later insisted to journalists that he does retain his backing.

Sky News understands Mr McSweeney was not discussed when Sir Keir and Mr Streeting spoke last night.

Labour chairwoman Anna Turley said the prime minister will investigate the source of the claims against the health secretary, telling ITV: “This is not what he wants to see and he’s determined to drive it out.”

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