Terror in Jakarta, Who’s Sean Penn?
Thursday, January 14, 2016
Vol. 5, No. 14
Terror: Explosions and gunfire rocked central Jakarta today in a terror attack that left seven people dead, including five of the assailants. The attackers used guns and grenades. Twenty people were reported wounded.
Indonesian authorities said the police had received information in late November that the Islamic State was saying “there will be a concert” in Indonesia, meaning an attack.
Econ 101: US stocks took a major dive yesterday on continuing worries about China and the world economy. The Dow was down nearly 365 points, more than 2.2 percent. It’s down 7 percent in the last two weeks.
Market futures today indicate a small uptick today.
Econ 102: At least three winning tickets were sold for last night’s $1.5 billon Powerball lottery. No names yet. Even the NY Times, sigh, says you have a greater chance of being struck by lightning than winning the lottery.
Click: Al Jazeera America, the cable channel that pledged to bring serious news to American television audiences, announced yesterday that it’s shutting down in April. Al Jazeera America’s chief executive, Al Anstey, said “our business model is simply not sustainable in light of the economic challenges in the U.S. media marketplace.”
In short, they established a network news operation without having any idea how much it would cost, and they didn’t have nearly enough advertising to cover it. The oil-financed network was launched when oil was $105 a barrel and now it’s $30.
Based out of Doha, Qatar, but staffed mostly by British and American broadcast veterans, the network suffered internal turbulence and turnover with the employees. Six hundred people are losing their jobs. But Al Jazeera gave it a serious try, recently winning its first, and probably only, Peabody Award.
World: Iran yesterday released a video of a US Naval officer apologizing for the two patrol boats that intruded upon Iranian waters. “It was a mistake, it was our fault, and we apologize for our mistake,” the unnamed sailor said.
Both US and Iranian leaders say the quick release of 10 captured sailors is a sign of warming relations. But the American story has an odor to it — one boat broke down and all communications were lost, the US said. Not too many hours after they were detained all the sailors were allowed to go on their way with the two patrol boats — so who fixed the broken one?
Tax Avoidance: General Electric has had a better idea. The company is moving from its longtime headquarters in Fairfield, Conn. for big tax incentives and grants to move to Boston. They’ll be taking 800 jobs with them. Massachusetts is giving the $300 billion corporation up to $120 million in grants and the city will provide about $25 million in property tax relief. It gives you an idea of the lengths American businesses will go to avoid taxes.
Natural Born: As Republican frontrunner Donald Trump tries to knock out Ted Cruz by questioning his citizenship, constitutional law professor Mary Brigid McManamon says the Donald is right. Cruz is not a “natural born” American, she writes in the Washington Post. She says that although Cruz was born to an American mother in Canada, the term “natural born” as used in the constitution comes from English common law meaning, “born within the dominions of the crown of England,” according to the 18th-century English jurist William Blackstone.
McManamon says that babies born to Americans abroad are “naturalized at birth,” which is not the same as the automatic citizenship that comes with being born on American soil.
Who?: Reports out of Mexico say the marquee name that attracted drug lord “El Chapo” to do an interview for Rolling Stone was the Mexican actress Kate del Castillo, not Oscar winner Sean Penn. El Chapo seemed to have a bit of a crush on Castillo, but in one text message attributed to him he said he was “looking up” Sean Penn on the Internet.
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