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The Port Authority commissioner who abruptly resigned last week was caught on camera berating police officers in New Jersey.The Tenafly Police Department released the video of Caren Z. Turner, 60, from a March 31 traffic stop. In it, she flashed her badge and credentials, giving the appearance that she was trying to interfere on behalf of her daughter and her daughter's friend, who were also in the vehicle.She can be heard on the video demanding information from police and reminding the officers of the fact that she worked at the Port Authority.Police reportedly pulled over the vehicle for its front tinted windows and an unclear license plate, and eventually discovered an issue with the vehicle registration. 725
The Nasdaq closed in correction on Wednesday, with tech stocks sinking following disappointing results from Texas Instruments and AT&T.The index finished down about 4%. The Dow was down slopped about 600 points Wednesday afternoon.Microsoft (MSFT) will report its results after the closing bell Wednesday and analysts are estimating that the company will report an increase of nearly 15% for both sales and earnings per share, thanks largely to strength in its cloud business.Netflix already kicked off tech earnings season last week when it reported a healthy jump in subscribers. But the party was short-lived for it and fellow FANG stocks Facebook, Amazon and Google.Netflix (NFLX) rose more than 5% the day after its earnings report but has fallen 9% since then."You can't just say tech is going to do great or even that FANG is going to do great. You have to be more selective," said Daniel Morgan, senior portfolio manager with Synovus Trust Company. 974
utting a Band-Aid on things, it's all OK. But, no. What about our feelings? What about those people who died trying to put Puerto Rico back (together) again? People needed (electricity) because they had oxygen (machines). They were ill; they had cancer. They had other issues, health-wise. They needed the government, and the government failed them."She shared Ruiz's story, she said, so "at least someone will know he existed." 4726
The other shoe has dropped for struggling sneaker company Under Armour.Under Armour reported quarterly sales Tuesday that fell nearly 5% from a year ago, missing forecasts badly. The company also lowered its outlook for the year again.That news sent the company's two classes of stock down more than 15% Tuesday. They had already lost nearly half their value for the year ahead of the earnings report. (Under Armour's UAA shares have voting rights while the UA shares do not.)CEO Kevin Plank said in the earnings release that the biggest problem is lower demand for its shoes and athletic apparel in its home market of the United States.The Baltimore-based company has been growing internationally, with sales surging in Europe, Latin America and Asia during the quarter.But those markets are still relatively tiny for Under Armour. Revenue in North America makes up more than three-quarters of its overall sales -- and those sales plunged 12% in the third quarter.It's a stunning fall from grace for Under Armour, which not that long ago was gaining market share at the expense of Nike and Adidas.The company signed Golden State Warriors star Steph Curry a few years ago, a move that seemed like a slam dunk success, since Curry has gone on to win multiple NBA MVP awards and two championships.But several iterations of the Curry shoes have routinely been mocked on social media for not looking cool. Even Curry's teammate Kevin Durant, who endorses Nike, poked fun at Under Armour earlier this year.Making matters worse, there have been reports of supply chain issues with the new Curry 4 line of sneakers. And Under Armour confirmed during its conference call with analysts Tuesday that it will delay some products to the fourth quarter.Under Armour also suffered from bad PR earlier this year after Plank agreed to join the White House's now defunct manufacturing council. Plank said in an interview with CNBC that "a pro-business president is something that is a real asset for the country."Curry told The Mercury News that he agreed with Plank -- but only "if you remove the 'et' from asset." Other professional athletes have been vocal about their disagreements with Trump as well.As such, Plank -- like many other CEOs -- has distanced himself from Trump lately.After Trump was reluctant to criticize neo-Nazis at a white supremacist rally, he then bashed Curry for not wanting to visit the White House and attacked athletes who protested the national anthem. Under Armour has come to the defense of its star endorsers.But that hasn't been enough to rejuvenate Under Armour's flagging sales or stock price.Meanwhile, Adidas has thrived in the past year while Under Armour and Nike have both struggled. Even Skechers has enjoyed a resurgence lately.So what can Under Armour do to get back on track? Neil Saunders, managing director of the research firm GlobalData Retail, wrote in a report that the company should continue to focus on expanding globally, which has been successful for Under Armour.But Saunders added that the company has to do more to court women as consumers, as Nike, Adidas and yoga apparel king Lululemon have successfully done."Under Armour is not so broken that it cannot be fixed. But the days of glory, when it would post double-digit uplifts in sales, are over. Now is the time to work out, slim down, and become more competitive," Saunders wrote. 3394
The pandemic has exposed a long-standing problem across the county: a lack of internet access in homes. And for most families, the switch to virtual learning came without warning. "Yes, there was an announcement, and my initial thought was not fear, more of daunting. I was overwhelmed," said San Diego mother Paula Gosswiller. Because for Gosswiller, it meant having to convert her kitchen into a classroom for five. Ranging from ages 5 to 13, all of her school-aged kids are in different grades."We did not have internet at the time in our house, and just the thought of homeschooling without internet or technology was daunting," said Gosswiller.The kids attend St. Ritas Catholic School in southeast San Diego, which was able to secure enough devices for each student before the school year, thanks to a donation. When school went virtual, they deployed the iPads and Chromebooks to students in need."The inconsistency of internet and things like that, really made it challenging for a lot of our families," said Principal Gina Olsen. Olsen says nearly half of the students needed to borrow a device when the school went virtual. She says they were also grateful to receive a grant from the Southeastern San Diego COVID-19 Rapid Response Fund, to help cover missed tuition payments for students. Like many families, the Gosswiller's were forced to add an internet bill to their list of expenses, but not all can afford to do this."I think the statistics are something like 1 in 4 kids in the U.S. don't have access to WiFi at home. Before the pandemic, they could stay after school, they could go to a library, maybe a McDonald's parking lot or a Starbucks," said Angela Baker, who runs corporate responsibility at Qualcomm.Located in San Diego, the tech giant Qualcomm helped turned our cellphones into smartphones with its modem chips. Now, they're putting some of that technology into computers."With people getting so used to their smartphones, and the experience of always being on, great battery life, being able to use it anywhere you are, no matter where you are, we kind of took that concept and applied it to the PC market," said Pete Lancia, who runs external communications at Qualcomm. With help from manufacturing partners, Qualcomm built computers with cellular connectivity that don't require WiFi to get online. They donated 900 to students in the San Diego Unified School District."We really need to make sure that kids have access to broadband at speeds that will let them do their homework, watch videos, see the instruction if that's being done, now that we know so many schools are probably going to be online," said Baker. And like your smartphone, the battery is designed to last all day. "I think this was a wake-up call for everyone," said Gosswiller.She says her family is making it work, navigating the challenges as they go."We're ready to take it on and mark the days off the calendar when they can go back to school physically," she said. 2981