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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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US

James Craig: Dentist in Colorado poisoned wife’s protein shakes with cyanide, murder trial hears

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James Craig: Dentist in Colorado poisoned wife's protein shakes with cyanide, murder trial hears

The trial of a dentist accused of murdering his wife by poisoning her protein shakes has begun in the US state of Colorado.

James Craig denies using cyanide and tetrahydrozoline, an ingredient in over-the-counter eye drops, to kill Angela Craig in a suburb of Denver.

During the trial’s opening statements on Tuesday, prosecutors claimed the 47-year-old was having an affair with another dentist, had financial difficulties and may have been motivated by the payout from his wife’s life insurance.

Angela and James Craig with their six children. Pic: NBC
Image:
Angela and James Craig with their six children. Pic: NBC

Assistant District Attorney Ryan Brackley told the jury at Arapahoe District Court that the 43-year-old victim – who had six children with her husband – had been suffering worsening symptoms including dizziness, vomiting and fainting.

She died in March 2023 during her third trip to the hospital that month.

Mr Brackley accused Craig of poisoning her protein shakes – then giving his wife a final dose of poison while she was in hospital, and said: “He went in that [hospital] room to murder her, to deliberately and intentionally end her life with a fatal dose of cyanide … She spends the next three days dying.”

Craig, who shook his head at times during the prosecution’s opening statement, has pleaded not guilty to several charges, including first-degree murder, solicitation to commit murder and solicitation to commit perjury.

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Prosecutors said Craig had tried to make it appear his wife of 23 years had killed herself. His internet history showed he had searched for “how to make a murder look like a heart attack” and “is arsenic detectable in an autopsy”.

In an argument, captured on home surveillance video, his wife also accused him of suggesting to hospital staff that she was suicidal.

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Ryan Brackley, a lawyer for the prosecution, delivers his opening arguments during the murder trial for James Craig, accused of killing his wife, at the Arapahoe District Court, Tuesday, July 15, 2025, in Centennial, Colo. (Stephen Swofford via Denver Gazette, Pool)
Image:
Ryan Brackley claimed James Craig administered poison to his wife while she was in hospital. Pic: Denver Gazette/ AP

After Craig’s arrest in 2023, prosecutors alleged that he had offered a fellow prison inmate $20,000 (£14,993) to kill the case’s lead investigator and offered someone else $20,000 to find people to falsely testify that Angela Craig planned to die by suicide.

Craig’s attorney, Ashley Whitham, told the jury to consider the credibility of those witnesses, calling some “jailhouse snitches”.

Ms Whitham argued that the evidence didn’t show that he poisoned her, instead seeming to suggest she may have taken her own life.

Ashley Whitham, a lawyer for the defence, delivers her opening arguments at the murder trial for James Craig, accused of killing his wife
Image:
Ashley Whitham, defending Craig, argued that the evidence didn’t show that he poisoned his wife. Pic: Denver Gazette/AP

She described Angela Craig as “broken”, partly by Craig’s infidelity and her desire to stay married, since they were part of The Church of Jesus Christ and Latter-day Saints.

Hospital staff had said Craig had been caring and “doting” while Angela Craig was in the hospital, said Whitham.

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The defence argued prosecutors had overdramatised Craig’s financial problems and dismissed the prosecution’s suggestion that Craig was motivated to kill because of an affair he was having with a fellow dentist from Texas.

“That’s simply not the case,” Whitham said, adding that Craig had many affairs over the years that his wife knew about. “He was candid with Angela that he had been cheating.”

The trial continues.

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Politics

Michigan town puts pre-emptive curbs on crypto ATMs

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Michigan town puts pre-emptive curbs on crypto ATMs

Michigan town puts pre-emptive curbs on crypto ATMs

The town of Grosse Pointe Farms has no crypto ATMs, but has regulated them anyway, requiring registration, warnings and limits on kiosks.

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Technology

Chip giant ASML says it can’t confirm that it will grow in 2026

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Chip giant ASML says it can't confirm that it will grow in 2026

An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background.

Nurphoto | Nurphoto | Getty Images

ASML reported second-quarter earnings that beat estimates with the its key net bookings figure ahead of consensus.

However, the chip equipment giant missed analyst expectations for revenue guidance in the current quarter and warned of the possibility of no growth ahead.

Here’s how ASML did versus LSEG consensus estimates for the second quarter:

  • Net sales: 7.7 billion euros ($8.95 billion) versus 7.52 billion euros expected
  • Net profit: 2.29 billion euros vs 2.04 billion euros expected

In its own previous forecast issued in April, ASML had said it expected second-quarter net sales of between 7.2 billion euros and 7.7 billion euros. In a pre-recorded interview posted on ASML’s website, the company’s Chief Financial Officer Roger Dassen said the beat was due to revenue from upgrading currently deployed machines as well as tariffs having a “less negative” impact than anticipated.

Analysts anticipated net bookings — a key indicator of order demand — would come in at 4.19 billion euros over the April-June stretch. ASML reported net bookings of 5.5 billion euros.

ASML is one of the most important semiconductor supply chain companies in the world. It makes extreme ultraviolet lithography (EUV) machines, which are required to manufacture the most advanced chips in the world, such as those designed by Apple and Nvidia.

Companies like Intel and Taiwan Semiconductor Manufacturing Co. are customers of ASML.

2026 warning

Like many companies in the semiconductor industry, ASML has been grappling with uncertainty created by U.S. tariff policy.

The company forecast third-quarter revenue of between 7.4 billion euros and 7.9 billion euros, which was shy of market expectations of 8.3 billion euros.

ASML said it expects full-year 2025 net sales to grow 15%, narrowing its guidance from a previously announced forecasts of between 30 billion euros to 35 billion euros.

However, the Dutch tech giant was less certain about the outlook for 2026.

“Looking at 2026, we see that our AI customers’ fundamentals remain strong,” ASML CEO Christophe Fouquet said in a statement.

“At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments. Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.”

The Veldhoven, Netherlands-headquartered company has released its next generation EUV tools known as High NA, which stands for high numerical aperture. These machines, which are larger than a double-decker bus and can cost more than $400 million each, are key to ASML’s future growth plans.

This is a breaking news story. Please check back for more.

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