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It's the end of an era. The iconic Rolling Stone magazine is up for sale.The magazine's founder Jann Wenner and his son Gus Wenner announced the sale on Sunday.The magazine has built a reputation over its 50-year history for being the voice for generations of music lovers, with a focus on pop culture and politics. 323
Investors were in a rotten mood Tuesday.Seemingly good results from Dow components Caterpillar, Coca-Cola and United Technologies didn't please Wall Street. The Dow closed down 425 points, or 1.7%, after opening with a 130-point gain. At its worst point of the day, the Dow was down more than 600 points.The Dow has fallen for the past five straight days — its longest losing streak in more than a year — and has given up its gains for the year.Why the nearly 650-point swing in the Dow in a matter of hours? Once investors took a closer look at the results, they focused on the negatives.Caterpillar, for example, warned that profit margins would probably not get any higher this year than they are now.And Coke investors were disappointed that lower prices may have helped drive sales -- even though Diet Coke finally returned to growth. Shares of Caterpillar plunged 6% while Coke's stock lost 2%.Verizon was one of the few companies that posted strong results Tuesday that didn't seem to have any caveats -- and it was rewarded for it. Shares of Verizon rose 2%.But other earnings reports were downright gloomy. 3M, another Dow component, lowered its outlook for the year. That sent its stock plunging 7%. Insurance company Travelers, also in the Dow, fell 3% after its earnings missed forecasts.All this negativity dragged down other old-school, classic industrial Dow companies too. Boeing and DowDuPont both fell about 3%.And tech investors were disappointed by increased expenses at Google parent Alphabet.Related: Why everyone is stressing about the 10-year Treasury Even though Alphabet posted solid gains in earnings and revenue that easily topped Wall Street's estimates, the stock fell 5% — and that helped drag down the S&P 500, Nasdaq and tech titans Apple, Amazon, Microsoft and Facebook.It didn't help that the yield on the 10-year US Treasury note rose above 3% for the first time in more than four years Tuesday morning.If this benchmark bond rate keeps climbing, it may make it more expensive to borrow money for mortgages and auto loans and could eat into profits at big US companies — especially since the Federal Reserve is expected to keep raising short-term rates.Still, one expert said investors may be overreacting to the moves in the bond market."I don't know that there is any magic to the 3.0% level other than it is a nice round number," said Jeff Mills, co-chief investment strategist for PNC Financial Services Group. "There is no rule that says rising rates are bad for the stock market."Mills added that since 1928, stocks have actually done a little bit better when rates have gone up. The market has gained about 11% on average during years that rates have gone up and 9% in years of falling rates.But jittery investors don't seem to care about historical market facts right now. They are selling first and asking questions later.The-CNN-Wire 2887
In front of Luke Sherlock’s home in Boca Raton, Florida sits a memorial stone for his niece, Gina Rose Montalto, and signs of support for her high school, Marjory Stoneman Douglas. FULL COVERAGE: Parkland school shooting | Cruz seen laughing in jail days after shootingGina was one of 17 people murdered during the Valentine’s Day massacre in Parkland. She was a freshman. “Gov. (Rick) Scott came to Gina’s funeral and spoke with the family before the mass ceremony. He was very sincere about getting some things done to make our schools safer,” Luke said in an interview. The one major piece of legislation missing from the 0 million gun control and school safety bill, he said, is putting assault style weapons in the same category as silencers and sawed off shotguns, which are not legal to purchase. “Some guns are simply too dangerous to be in the public’s hands,” he said. He’s leery, as is Scott, of arming school personnel, which this bill would allow. “This bill does a lot of good things and if we have to live with that provision, I would prefer to have that provision in the bill and take the rest of it,” he said. He is behind raising the age to buy a gun to 21, a three-day waiting period, banning bump stocks, and giving authorities power to take guns away from people who may be a threat. All those items are in the bill. “Right now, there’s a good bill out there. That’s a great start to common sense gun control in this country and I ask that Gov. Scott sign,” he said. Scott will meet with parents Friday before deciding whether or not to sign the gun and school safety measure. Luke and some parents are working with Boca Middle School on creating a community watch-type program for parents to help patrol campus with school resource officers.The parents wouldn’t be armed, but provide and extra set of eyes to help the school resource officers look out for potential threats. 1982
INDIANAPOLIS — Gov. Eric Holcomb is concerned about teenage homegrown violent extremists in Indiana schools, according to a Nov. 17 Indiana Department of Homeland Security report. WRTV obtained the document through two separate sources.Teenage Homegrown Violent ExtremistsThe nine-page document describes three threats to Indiana schools – active shooters, cyber threats and teenage homegrown violent extremists. Homegrown violent extremists are defined by the FBI as "global-jihad-inspired individuals who are based in the U.S., have been radicalized primarily in the U.S., and are not directly collaborating with a foreign terrorist organization."The first two threats are real concerns for police departments and schools across the state, according to multiple high-ranking law enforcement sources who are regularly briefed on local and national intelligence regarding threats. The actual threat of a teenage homegrown violent extremist attacking a school is low, the sources tell WRTV. They say listing it as one of the top three threats is not accurate. The sources spoke to WRTV on the condition of anonymity because they are not authorized to speak to the media. "The Governor of Indiana, IDHS, the FBI and the NCTC remain concerned about the potential for teenage HVE’s to conduct attacks inside the state or violence targeting a school with little to no warning," the report states. "IDHS continues to urge vigilance and to report suspicious activities to law enforcement."As the report states, Indiana did see an 18-year-old Brownsburg, Indiana man get arrested while allegedly trying to join ISIS, but there was never a threat to the high school he attended or any other schools in the country.The FBI declined to comment for this story.Questions Raised about ReportThe report was part of a briefing sent to emergency managers and police departments across the state. It quotes not only Holcomb, but other state agencies, such as the Fusion Intelligence Center, the U.S. Department of Homeland Security and the FBI. But some agencies never knew the report was being put together. The IDHS never consulted the agencies before sending out the report, even though they were quoted, WRTV has learned.Asked about the document and the quotes, IDHS Executive Director Bryan Langley, who is also listed as the author of the report, released a statement, saying in part: 2420
It's Hispanic Heritage Month.Sites like Yelp and Nextdoor are encouraging people to support Hispanic-owned businesses in their communities.This week, Yelp launched a tag that allows businesses to mark themselves as Latinx-owned.Nextdoor is teaming up with the group We Are All Human to provide resources to Hispanic-owned small businesses. They'll also provide free advertising during the month.The U.S. Hispanic Chamber of Commerce represents more than 4 million Hispanic-owned businesses. It says Latino business owners have been hit particularly hard during the pandemic and need support.Many have limited relationships with banks and are in neighborhoods considered “challenging” to lend to. Many were left out of the Paycheck Protection Program.“In round one, we saw many Latino-owned businesses were really largely left out of those opportunities,” said Ramiro Cavazos, President of the U.S. Hispanic Chamber of Commerce. “Half of our businesses have banking relationships. If you did not have a bank relationship, many of them were shut out.”On average, Hispanic-owned businesses only have about 27 days’ worth of capital reserved. A quarter of them have had to close, at least temporarily, since the pandemic began.“Our Latino-owned businesses provide jobs for our community,” said Cavazos. “They also pay taxes and make investments in their community. And these businesses really are the lifeblood of consumer spending."According to a study by Stanford University, Latino-owned businesses contributed 0 billion to the U.S. economy in the past decade. 1570