Market Meltdown, Burkina Hotel Re-taken
Saturday, January 16, 2016
Vol. 5, No. 15
Econ 101: The stock market appears to be drowning in excess oil. With the price of a barrel crashing through $30, investors around the world are losing confidence in economic growth. The Dow Jones dropped nearly 400 points yesterday and all the major indexes are close to or over a 10 percent loss — that’s what the money guys call a “correction.”
Terror: French and Burkina Faso troops have retaken a hotel that was seized by jihadists from an al Qaeda off shoot yesterday. Twenty-three people and four attackers were killed. At least 126 hostages were freed after troops moved in amidst intermittent gunfire. Two of the three assailants killed inside the hotel were women.
Nation: Twelve US Marines are missing after their two Sea Knight helicopters collided on a training mission and crashed into the ocean off Oahu. Wreckage has been spotted but rough weather is making it difficult to look for possible survivors.
The Biz Page: Walmart, the giant retailer that killed small down American business, announced that it is closing 269 stores in the US and overseas as it loses ground to the online giant Amazon. As many as 16,000 people could lose their jobs, 10,000 of them in the United States.
>After a rash of food poisonings, the Chipotle chain plans to close down all its restaurants for a day on Feb. 8th “to thank employees, discuss changes and answer questions.” Translated, it’s a companywide crisis meeting, like the Air Force grounding all planes after a string of crashes. Company stock has dropped 42 percent.
But the chips are great. They’re deep-fried and nothing poisonous can live on them.
Kickoff: The NFL playoffs start today. Chiefs at the Patriots, 4:35 PM EST; Green Bay at Arizona, 8:15 EST.
The Obit Page: René Angélil, The French Canadian producer who met the singer Celine Dion when she was 12, made her an international star, and later married her, has died of throat cancer in Las Vegas at age 73. Dion’s brother had sent Angélil a demo tape of a song their mother had written.
Angélil told the NY Times, “I listened to it right away, and I couldn’t believe it. She wasn’t the cutest 12-year-old. She had a problem with her teeth and she was very shy, but her eyes were incredible.”
Evidently she got cuter. The couple married in 1994 when Dion was 26 and he was 52, but it was an enduring May/December romance in which, toward the end, she took time off from her career to feed her husband through a tube.
>Dan Haggerty, the big guy who played Grizzly Adams in the 1970s television series “The Life and Times of Grizzly Adams,” has died at age 74. Co-starring with a bear, the character was a mountain man living in the wilderness because he was falsely accused of a crime.
Putting in Papers: CBS newsman Charles Osgood, who’s hosted “Sunday Morning” for the last 22 years, is in talks with CBS about retiring sometime later this year.
American Apology: The former Taco Bell executive who was filmed beating up his Uber driver and lost his job, is now suing the driver for $5 million, claiming that the video recording was illegal and the driver was responsible for his own injuries. The passenger, Benjamin Golden, claims he suffers, headaches, paranoia, and he can’t sleep. After the November incident one of Golden’s lawyers said, “Mr. Golden accepts full responsibility for his actions and understands the consequences that may occur as a result.” That was then and this is now.
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