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Friday brought another round of dramatic price cuts in the oil patch.US oil prices plummeted 7% and sank deeper into a bear market that has alarmed investors and made drivers around the world happy.The latest wave of selling knocked crude below a barrel for the first time since October 2017.Anxiety about oversupply and diminished demand have sent crude down by a third since it soared to a four-year high above a barrel in early October. Observers have gone from fearing 0 oil to expressing concern over why its price collapsed so quickly."The unrelenting six-week selloff has been unnerving to say the least," Michael Haigh, head of commodities research at Societe Generale, wrote to clients on Wednesday.Oil bulls are hoping OPEC and Russia come to the rescue by announcing steep production cuts at a meeting next month in Vienna. However, President Donald Trump is pressuring Saudi Arabia and OPEC not to reduce output despite the crash in prices. Traders are worried Trump's recent praise for Saudi Arabia signals the Saudis won't back a significant production cut.For the week, US oil prices are down nearly 10%.Lukman Otunuga, research analyst at FXTM, described the weekly selloff as "brutally bearish."Brent crude, the global benchmark, shed 5.5% on Friday and declined to a new 2018 low of a barrel.The meltdown was triggered by a series of developments that darkened the energy outlook. Prices soared over the summer as Trump vowed to zero out Iran's oil exports. That led Saudi Arabia, Russia and especially the United States to ramp up production. However, the Trump administration later took a softer approach on Iran sanctions to keep oil from spiking. Officials granted temporary waivers to China, India and other buyers of Iran's crude. That headfake left the oil market staring at a potential glut.At the same time, global growth fears emerged in financial markets. Economists are marking down their GDP forecasts for 2019. Germany and Japan, the world's No. 3 and 4 economies, are already in contraction. China is slowing, too. None of that is bullish for oil, which powers the world economy."Rising global crude supply coupled with worrying signs of slowing demand have written a recipe for disaster for the oil markets," Otunuga wrote to clients on Friday.The rapid collapse in oil prices caught many off guard, including hedge funds that made outsized bullish bets on crude earlier this year. Large commodity funds have accumulated losses in excess of .7 billion so far this quarter, Societe Generale estimates."Sentiment on commodity markets has been despondent," Haigh wrote.The energy slump came at just the right time for consumers though. Millions of Thanksgiving travelers were greeted by cheaper prices at the pump. The average gallon of gallon fetched .58 on Friday, down sharply from .84 a month ago, according to AAA. 2880

Five days after a gunman slaughtered 10 people at a Texas high school, teachers are returning Wednesday to the site of the massacre.Santa Fe High School teachers and staff are returning "to support each other and prepare for our students' return," said Leigh Wall, superintendent of the Santa Fe Independent School District.Students will return next Tuesday, Wall said. They'll have access to "counseling assistance from many state and local agencies" and will see additional law enforcement officers on campus, the superintendent said. 544

For the first time in its history, Sports Illustrated will feature a transgender model in its annual Swimsuit Edition.Sports Illustrated said Friday that 23-year-old Brazilian model Valentina Sampaio would be featured in the magazine, which is slated for a July 21 release.In an open letter published on Sports Illustrated's website, Sampaio said she was "excited and honored" to be a part of the upcoming issue."Being trans usually means facing closed doors to peoples’ hearts and minds," she wrote. "We face snickers, insults, fearful reactions and physical violations just for existing. Our options for growing up in a loving and accepting family, having a fruitful experience at school or finding dignified work are unimaginably limited and challenging.""I recognize that I am one of the fortunate ones, and my intention is to honor that as best I can."According to NBC, the Swimsuit Edition is just the latest barrier Sampaio has smashed as a transgender model. Last year, she was hired as the first openly trans Victoria's Secret model, and she was the first openly trans model to appear on the cover of any Vogue magazine."Valentina has been on our radar for some time now and when we finally met face-to-face it became apparent that besides her obvious beauty, she is an impassioned activist, a true pioneer for the LGBT+ community and just simply embodies the well-rounded woman we are proud to have represent SI Swimsuit across our platforms," Sports Illustrated said in a statement to NBC.In 2019, Sports Illustrated featured a Muslim model, Halima Aden, in the Swimsuit Edition. Aden sported a hijab and a burkini in her photo shoot. 1653

FLORIDA — As many as 200 employees at the Lockheed Martin/Sikorsky facility in Jupiter, Florida could be affected by potential layoffs this summer.The workers union representing the employees -- Teamsters Local 1150 -- said they are doing everything they can to find people new positions within the company.Journalists at WPTV in West Palm Beach, Florida first heard about the likely layoffs from employees who reached out earlier this week and expressed concern about who would be on the chopping block.The layoffs involve workers in the Blackhawk military helicopter program, which shares space at the United Technologies facility off Beeline Highway in Jupiter. There are a total of 500 employees working there.No names or positions of who will be laid off have been finalized."This has been coming for a while," said Rocco Calo, a board member for Teamsters Local 1150 based in Connecticut. Sikorsky is also based in Connecticut.In a phone interview with WPTV on Wednesday, Calo said unfortunately, they're seeing a big downtown in military work for the Blackhawk and Seahawk helicopters they build."In the Florida plant, they were working on Canadian maritime military helicopter program, which is dwindling down now, coming to an end," he said.Sikorsky is also seeing a decline in the number of aircraft the government is requesting to be built. The company operates on a multi-year contract with the government and Calo said with the current contract shows a significantly lower number of aircraft requests than in years past. The union is monitoring negotiations for future contracts."It's starting to look a little better for the out years, but nothing is signed yet. But we some irons in the fire, we're hopeful," said Calo.Sikorsky was bought by Lockheed Martin for billion in 2015, which could also be a contributing factor the changes the Sikorsky is undergoing right now."Naturally when you go through mergers and acquisitions, there are things that can happen with companies. They can either increase in terms of employees or they downsize," said Kelly Smallridge, president and CEO of the Palm Beach County Business Development Board.Her agency monitors and recruits businesses to establish operations in Palm Beach County."While we hate to see any company lay off employees in Palm Beach County, this is the time that other companies will be happily take any kind of skilled worker over to their operations," she said.Smallridge said there are 1,300 aerospace and engineering companies operating in this county alone and the BDB is on stand-by to assist any employees affected by the Sikorsky layoffs."We're ready to help place those employees in other operations. There are 67 corporate headquarters in Palm Beach County, so there's ample business opportunity," she said.Calo said Lockheed is still working on crunching numbers to determine the final number of layoffs. While employees feared the number would push 200, Calo said after factoring in early retirements and relocations for some positions, that number could be much lower."We had a significant number of people sign up for an early out package," he said.Some workers could be offered jobs at other locations in Connecticut and Alabama."I don't think we will be able to offset all of the involuntary stuff. It is a huge downturn in work, but as I said, we're fighting every day," said Calo.On Tuesday, Lockheed Martin released its 2018 first quarter results.The company reported net sales of .6 billion for the first quarter of the year, compared to .2 billion in the first quarter of 2017."Strong operational and program execution in the first quarter allowed us to increase our financial guidance for sales, profit and earnings per share," said Lockheed Martin Chairman, President and CEO Marillyn Hewson, in the news release. "Our team remains dedicated to performing with excellence, offering affordable and innovative solutions for our customers, and delivering exceptional value to our shareholders."Under the Rotary and Missions systems report, which includes Sikorsky, the report states that net sales in the first quarter of 2018 increased million, or three percent, compared to the same period in 2017.However, the report goes on to say, "These increases were partially offset by a decrease of 0 million for Sikorsky helicopter programs due to lower volume for government helicopter programs."Teamsters Local 1150 is planning to hold a meeting with employees to discuss the layoffs this week. The union also represents workers at facilities in Alabama and Connecticut.Union leaders are even driving to Washington, D.C. this week to ask Congress for help.For layoffs of 50 or more people, WARN notices have to be filed with the Florida Department of Economic Opportunity.A search of the 2018 notices shows that Lockheed Martin filed a WARN notice for 82 layoffs at Hurlburt Field Air Force Base in Hurlburt Field, Florida. A notice has not yet been filed for the Jupiter facility. The company is required to give a 90-day notice to the state before laying people off.Lockheed Martin spokesman Paul Jackson released the following statement:  We have not made any announcements but continually review all our business operations to ensure we are properly sized for current and longer-term business requirements and economic conditions within our marketplaces. 5400

For the first time in history, out of the four major professional leagues, Kawhi Leonard and Stephen Strasburg are the first players from the same university to be named postseason MVP in the same season. #GoAztecs pic.twitter.com/EyOT7blwDi— GoAztecs (@GoAztecs) October 31, 2019 294