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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

The holiday season is upon us, and for many, that means it’s time to hit the road and travel for Thanksgiving.In 2016, AAA estimated that more than 48 million Americans were expected to travel for turkey day.According to the AAA Autumn travel guide, most travelers plan to stay within the United States, with Orlando, Southern California, Hawaii and New York being the most popular domestic travel destinations. 419

The Minneapolis City Council votes Friday on a proposal to change the city charter to allow elimination of the city’s police department, a radical move supported by a majority of the council after George Floyd’s death but far from assured.The vote is one step in a process that faces significant bureaucratic obstacles to make the November ballot, where the city’s voters would have the final say. And it comes amid a spate of recent shootings in Minnesota’s largest city that have heightened many citizens’ concerns about talk of dismantling the department.The Minneapolis force has come under heavy pressure since Floyd, a Black man in handcuffs, died May 25 after a police officer pressed his knee on Floyd’s neck for nearly eight minutes. Activists had long accused the department of being unable to change a racist and brutal culture, and earlier this month, a majority of the council proclaimed support for dismantling the department.Doing so would first require amending the city charter. Draft language of the amendment posted online would replace the department with a Department of Community Safety and Violence Prevention, “which will have responsibility for public safety services prioritizing a holistic, public health-oriented approach.”The amendment goes on to say the director of the new agency would have “non-law-enforcement experience in community safety services, including but not limited to public health and/or restorative justice approaches.” It also provides for a division of licensed peace officers, who would answer to the department’s director.Council members who support the change are looking to seize on a groundswell of support for significant policing changes following Floyd’s death. If they don’t get the charter change on the November ballot, their next chance won’t come until November 2021, they say.“It is time to make structural change,” Council Member Steve Fletcher said. “It is time to start from scratch and reinvent what public safety looks like.”The proposed amendment is expected to be approved Friday, but that’s just a first step. It goes then to a policy committee and to the city’s Charter Commission for formal review. The commission’s recommendation doesn’t bind the council, but it takes time.Barry Clegg, chairman of the Charter Commission, said the process feels rushed.“As I understand it, they are saying, ‘We are going to have this new department. We don’t know what it’s going to look like yet. We won’t implement this for a year, we’ll figure it out,’” Clegg said. “For myself anyway, I would prefer that we figured it out first, and then voted on it.”Clegg said that to get the proposed amendment question on the November ballot, it has to be finalized by Aug. 21. He said if the Charter Commission took its final action at its Aug. 5 meeting, there would likely be enough time for it to get passed by the full council, go through a veto period, and then, if vetoed, have time to spare for a possible mayoral veto override. Once on the ballot, the measure would go to voters.Mayor Jacob Frey doesn’t support abolishing the department, a stance that got him booed off the street by activists who demonstrated outside his house following Floyd’s death and demanded to know where he stood.Frey expressed concerns about the proposed amendment as currently drafted, including whether the change would eliminate police altogether or allow for a police presence going forward. He also said that when something currently goes wrong, the chief and the mayor are accountable — but under the new plan, accountability would be dispersed among 14 people. Frey also questioned whether policing practices would vary, based on ward or other factors.“There is a significant lack of clarity. And if I’m seeing a lack of clarity, so are our constituents,” said Frey, who has said he supports deep structural change in the existing department.Fletcher said under the new agency when someone calls 911, there will always be a response that’s appropriate, including the option for a response by employees authorized to use force. But he said the vast majority of calls that police officers currently take will be answered by employees with different expertise.Miski Noor, an organizer with Black Visions, criticized the proposed amendment for creating a division of licensed peace officers at all. She said it “would give current and former police way too much power to shape public safety in Minneapolis.”Steven Belton, president and chief executive of Urban League Twin Cities, said the way some council members went forward without a concrete plan is “irresponsible.”“The problem that needs to be stated up front, from my perspective, is racism. … I’m not sure what they are trying to fix here,” he said.Don Blyly, whose beloved science fiction and mystery bookstores were destroyed by arson in the unrest that followed Floyd’s death, said if local leaders do something “sufficiently stupid” when it comes to policing, he won’t reopen in Minneapolis.“There are legitimate problems with the Minneapolis police, but the way the politicians are going about it is just ridiculous,” Blyly said. “They are pandering to a certain segment of the electorate.” 5202

The president has signed the covid relief/government funding bill, several sources told me.— Jake Sherman (@JakeSherman) December 28, 2020 152

The only thing that scares salon owner Shelly Albro more than the empty chairs inside her Portsmouth, New Hampshire barbershop is the silence that has consumed this place recently.Having lost 30 percent of her business because of COVID-19, Albro found herself in the same position as thousands of other small business owners across the country, desperate for new streams of revenue, while at the same time, having to keep her customers and staff safe.“I just knew that if I didn’t get creative we weren’t going to make any money,” she said. “Business was down.”Albro owns Gents Barbershop, which she recently opened.On a particularly depressing day during the shutdown, she had been searching through old photos when she stumbled upon an old black and white picture from the 1918 Spanish Flu pandemic. A few barbers stood wearing masks as they cut clients' hair, but instead of cutting hair inside a building, the barbers were standing out on the sidewalk in front of their store.She had found her solution.“When I saw this picture I was like, ‘I gotta do this outside!’ For those who are like me who are nervous to go inside,” she said.Unsure of how the idea would go over with customers, Albro first started cutting hair outside on her days off. Her schedule quickly booked up, as this upbeat stylist with a slight New England accent realized she’d struck a chord with her customers who were still too nervous to get their haircut inside a barbershop during COVID-19.And for Albro, who suffers from an autoimmune disease herself, the whole thing is personal.“There are a lot of people who have anxiety about coming inside a building. It doesn’t matter how much we clean or sanitize; they’re feeling anxious about coming inside,” she said. “Because I’m high risk, I get why people are reluctant.”Gents Barbershop isn't alone in moving hair cutting services outside. Back in July, California moved all salons outdoors to deal with a sudden spike in cases.Beth Milito with the National Federation of Independent Businesses is telling small business owners to follow Albro’s lead.“It’s been much more challenging than people anticipated back in March,” Milito explained.As small business owners continue to navigate an economic recession, Milito says that creativity and ingenuity are keys to a successful rebound, especially when more than 100,000 small businesses have already closed since March.“Looking at this as a long-term investment, something you can see into the future,” she added.As for Albro, she knows that like a good haircut this trend may fade away, but for now, she’s just trying to make a much deeper impression.“I just want to help,” she said. 2669

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