todayinpersonaljournal te …online.wsj.com/public/resources/documents/pageone101414.pdf · of...

Post on 21-Mar-2018

217 Views

Category:

Documents

3 Downloads

Preview:

Click to see full reader

TRANSCRIPT

YELLOW

* * * * * TUESDAY, OCTOBER 14, 2014 ~ VOL. CCLXIV NO. 89 WSJ.com HHHH $2 .00

DJIA 16321.07 g 223.03 1.35% NASDAQ 4213.66 g 1.5% NIKKEI Closed (15300.55) STOXX600 321.56 g 0.02% 10-YR. TREAS. Closed , yield 2.305% OIL $85.74 g $0.08 GOLD $1,229.30 À $8.30 EURO $1.2752 YEN 106.84

Getty

Images

TODAY IN PERSONAL JOURNAL

Teens Who Are Multitask MastersPLUS New Ways to Live With Multiple Sclerosis

CONTENTSCFO Journal................. B6Corporate News.... B2,3Global Finance............ C3Health &Wellness D2,3,5Heard on the Street C10In the Markets........... C4

Leisure & Arts............ D4Opinion.................. A13-15Sports.............................. D6Technology................... B4U.S. News................. A2-7Weather Watch........ B6World News... A8-11,16

s Copyright 2014 Dow Jones & Company.All Rights Reserved

>

What’sNews

i i i

World-Widen U.S. hospitals face thechallenges of cost and train-ing to deal with the prospectof additional Ebola cases. A1nThe second person diag-nosedwith Ebola in Texas wasidentified as a 26-year-old Viet-namese-American nurse.A6n The CDC’s director said theagency is rethinking its ap-proach to Ebola control afterthe nurse became infected. A7n Islamic State’s siege of theSyrian Kurdish city of Kobanihas roiled Turkey’s push to endits own Kurdish insurgency.A10n Afghan security officialssaid Islamic State is begin-ning to seek a foothold thereas foreign troops leave. A10n Britain is analyzing an ar-ticle purportedly written by aU.K. hostage in which he sayshe expects to be killed. A11nA Vatican document calledfor greater outreach to gayand divorced Catholics, mark-ing a dramatic shift in tone.A16nHongKong police stepped upefforts to remove protesters’barricades and open roads. A11nNorth Korean dictator Kimwas shown in public for thefirst time in weeks. A11nA Ukraine rebel figureheadwas hospitalized after his carwas shot at and crashed. A9nRussia and China signedsome 40 deals asMoscow seeksties to counter sanctions.A9n Sections of a fault systembeneath California’s Bay Areaare ready to unleash largequakes, a new study says. A2n A Chinese court sentenced12 people to death for deadlyattacks in Xinjiang. A11

i i i

Penney named Home De-pot and Target veteran

Marvin Ellison as its next CEOas the chain struggles to fit ina changing retail landscape. A1n U.S. stocks tumbled involatile trading, with energyshares among the worst per-formers. The Dow closeddown 223.03 at 16321.07. C1nGlobal oil prices fell to neara four-year low.More declinesare likely after exporters vowedto keep production steady. C1n Iliad dropped plans to buya controlling stake in T-MobileUS, ending a four-month pur-suit by the French firm. B1n France’s Jean Tirole wonthe Nobel Prize in economicsfor his work on large firmsand antitrust regulation. A8n Fidelity named AbigailJohnson as chief executive.She succeeds her father, whohas been CEO since 1977. C1n Aviation-safety expertscalled for sweeping changesto limit the fire hazard fromlithium-battery shipments. B1nMicrosoft plans to releasea patch for a hole in Win-dows that hackers used tospy on Ukrainian officials. B4n Janus is buying a providerof exchange-traded funds, adeal that may give Gross a plat-form to launch his own ETF. C2n Targa is acquiring Atlas ina $5.87 billion deal that wouldcreate a pipeline company ac-tive in several Texas fields. B3n Some potential witnessesin the tax-evasion trial of anex-UBS official refuse to travelto the U.S. for fear of arrest. C2

Business&Finance

As the Ebola epidemic in WestAfrica expands, more cases couldrequire treatment at U.S. hospi-tals far from the specialized cen-ters that have handled patients sofar. But the challenges even thesemedical centers have encounteredshow the steep learning curveothers face.

Treating Ebola takes money,space, aggressive care and obses-sive vigilance to prevent doctorsand nurses from getting infected,say infectious disease doctors atsuch specialized hospitals in At-lanta and Omaha, Neb. Also im-portant is extreme diplomacy indealing with suppliers and con-tractors, which have balked athandling blood samples, soiledlinens and hospital waste out offear of the virus, the hospitals say.

On Monday, the director of theCenters for Disease Control andPrevention, Tom Frieden, said thecountry needs to boost hospitaltraining and prevention tech-niques for Ebola. He said expertsare examining such things as howprotective gear was worn and re-moved by workers at the Dallashospital where a nurse was in-fected while treating a Liberianman who later died of the disease.The nurse’s case is the firstknown transmission of the virusin the U.S.

Dr. Frieden said there may bePleaseturntopageA6

BY BETSY MCKAYAND PETER LOFTUS

EbolaResponseStrainsHospitals

This time around, J.C. PenneyCo. is playing it safe, picking anew chief whose strength is in thenuts and bolts of retailing ratherthan flashy merchandising.

The struggling retailer onMonday named Home Depot Inc.and Target Corp. veteran MarvinEllison as its next CEO, opting foran executive who is known for hisstrong operational skills and giv-ing him a long transitional periodto come up to speed.

The caution contrasts with

Penney’s riskier and ultimately di-sastrous bet three years ago onformer Apple Inc. executive RonJohnson, who upended its pricingstrategy and offerings in an effortto make the chain more hip butended up blowing a $4 billionhole in the company’s sales.

The appointment also reflects

a broader shift in retail in whichsome big companies have favoreddetail-oriented operators over ex-ecutives mainly lauded for bril-liance in merchandising, as the in-dustry faces giant new challengesin managing its supply chains andkeeping customers from defectingto the Web.

Brian Cornell, a former Pep-siCo Inc. executive who recentlybecame CEO of Target, and ArtPeck, incoming CEO of Gap Inc.,are valued more for their ability

to run large organizations thanfor their gut instinct about thenext hot trend. Penney will needthose sorts of skills as it maps outthe next steps of a recovery.

The department-store chainhas fended off a cash crunch andreversed a steep drop in sales andtraffic. The company’s loss for thesix months that ended Aug. 2 nar-rowed to $524 million from $934million a year earlier, as salesgrew 6% to $5.6 billion. Yet ques-

Pleaseturntothenextpage

By Suzanne Kapner,Shelly Banjo

and Joann S. Lublin

Retail CEOsGoBack toBasicsNewPenney Chief Shows Growing Industry Preference for Operators Over Trend Spotters

U.S.-Led Coalition Bombards City in Effort to Save It

European

Presspho

toAgency

Senate RaceTests Voters’Appetites forMilitaryAction

CINCINNATI—As voices and music swelled on arecent Sunday morning, bringing a traditional19th-century hymn to an arena-rock crescendo,hands of all hues reached toward the heavens.

“This is beautiful,” said pastor Chris Beard, look-ing over pews filled with African-American, whiteand Asian worshipers in a church service thatopened with a prayer for two dozen Ethiopian ba-bies and closed with a benediction in Korean. “Tobe one church family pleases the heart of the Lord.”

The faces were nearly all white in 2001, whenMr. Beard took charge of the century-old FirstChristian Assembly of God. Today, half its mem-

BY LAURA MECKLER

A CHURCH OF MANY COLORS

The Most Segregated HourIn America Gets Less So

LITTLE ROCK, Ark.—Few can-didates emphasize their militaryexperience more than Rep. TomCotton. The Republican Senatechallenger peppers stumpspeeches with references to hisstint in the Army. He tours thestate in a camouflage-themed RV.A former drill sergeant appearsin one of his 30-second TV spots.

The 37-year-old first-term con-gressman also has become a lead-ing advocate for increased U.S. in-volvement in the world. He wasone of the few members of eitherparty to back President BarackObama’s calls last year for air-strikes in Syria. Mr. Cotton formonths has been warning againstthe dangers of the militant groupIslamic State, before the behead-

PleaseturntopageA4

BY PATRICK O’CONNOR

BERLIN—On each of his last 15visits to Detroit, Dimitri Hege-mann has visited his old friend,Fisher Body 21.

“We really stay in touch,” saysthe 60-year-oldBerliner withflowing blonde-and-white hair.“Fisher Body ismy first reallove.”

Fisher Body21 is a decrepitsix-story buildingthat is covered ingraffiti, linedwith smashedwindows and, ac-cording to state authorities, dan-gerously contaminated. Built in1919, the former auto-parts plantin Detroit was deserted two de-cades ago.

But where others see a case for

the wrecking ball, Mr. Hegemannand his friends see the first steptoward the revival of America’sabandoned city. The asbestos-filled ruin, he says, “has a specialaura…and I have plans for it.”

Mr. Hegemann, founder of aBerlin nightcluband record label,is spearheadinga project calledthe Detroit-Ber-lin Connection,an effort by themovers andshakers in thiscity’s musicscene to help re-start the MotorCity. The Berlin-ers compare De-

troit to their city after the fall ofthe Berlin Wall and say it has allthe ingredients for a similar re-birth as a center of undergroundculture: deserted buildings, cheap

PleaseturntopageA12

BY JACK NICAS

WhereMotown Sees a Derelict Factory,Berliners See a Techno Dance Club

i i i

Germans Pitch Detroit Ideas on Music Scene;Deserted Auto Plant’s ‘Special Aura’

Fisher Body 21

bers are white and a quarter are black; 30 nation-alities make up the rest.

The Rev. Martin Luther King Jr. famously saidthat Sunday at 11 a.m. was the most segregatedhour in America. Today, pastors like Mr. Beard areworking to change that, with some success. Theproportion of churches in the U.S. with mixed-racecongregations—where no single group tops 80%—has grown from 7% in 1998 to 13% in 2012, accord-ing to an analysis of the National CongregationsStudy, a survey run by Duke University.

“I just began to wonder about our being somono-ethnic in a multiethnic city,” said Mr. Beard,the senior pastor of what is now called Peoples

PleaseturntopageA12

More Clouds Gather on the Horizon

Source: SIX Financial Information The Wall Street Journal

S&P 500

2000

1600

1700

1800

1900

200-day moving average

Jan. Feb. March April May June July Aug. Sept. Oct.

Monday1874.74t1.65%

AIR FORCE: Planes hit Kobani, Syria, near the Turkish border Monday in an effort to break a siege of the Kurdish city by Islamic State fighters. A10

BAD OMENS: The S&P 500 dropped below a key indicator Monday,suggesting to some traders that more declines are ahead. C1

Nurse diagnosed with Ebola inTexas is identified........................ A6

U.S. rethinks response, focuseson lapses........................................... A7

Health crisis becomes fodderfor campaign season.................. A7

Gerald F. Seib: Democrats loseedge on peace, prosperity....... A4

Call1-800-iShares for a prospectus, which includes investment objectives, risks, fees, expensesand other information you should read and consider carefully before investing. Risk includesloss of principal. Diversification may not protect against market risk or loss of principal. Transactionsin shares of ETFs will result in brokerage commissions and will generate tax consequences. All regulatedinvestment companies are obliged to distribute portfolio gains to shareholders. The iShares Funds arenot sponsored, endorsed, issued, sold or promoted by S&P Dow Jones Indices LLC nor does this companymake any representation regarding the advisability of investing in the Fund. BlackRock is not affiliatedwith the company named above. Distributed by BlackRock Investments, LLC. ©2014 BlackRock, Inc. Allrights reserved. iSHARES and BLACKROCK are trademarks of BlackRock, Inc. iS-12264-0414

IVV

IJH

IJR

iShares CoreS&P 500 Fund

iShares CoreS&P Mid-Cap Fund

iShares CoreS&P Small-Cap Fund

After all, that’s whyyou invest.iShares Funds arediversified, low costand tax efficient.

Ask your financial advisor.Visit iShares.com

iShares Fundscan help youkeep more ofwhat you earn.

CM Y K CompositeCompositeMAGENTA CYAN BLACK

P2JW287000-5-A00100-1--------XA CL,CN,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SC,SL,SW,TU,WB,WEBG,BM,BP,CC,CH,CK,CP,CT,DN,DR,FW,HL,HW,KS,LA,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO

P2JW287000-5-A00100-1--------XA

top related