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YELLOW ****** THURSDAY, JANUARY 8, 2015 ~ VOL. CCLXV NO. 6 WSJ.com HHHH $3.00 DJIA 17584.52 À 212.88 1.2% NASDAQ 4650.47 À 1.3% NIKKEI 16885.33 À 0.01% STOXX 600 333.20 À 0.5% 10-YR. TREAS. À 3/32 , yield 1.954% OIL $48.65 À $0.72 GOLD $1,210.60 g $8.70 EURO $1.1841 YEN 119.26 TODAY IN MARKETPLACE The $140,000-a-Year Welder PLUS Oil Firms Face a New Dilemma CONTENTS Arts in Review.......... D5 Corp. News ....... B2,3,5,7 Global Finance............ C3 Heard on Street...... C12 In the Markets.......... C4 Money & Investing C1,2 Opinion..................... A9-11 Small Business ......... B4 Sports.............................. D6 Style & Travel .... D1,3,4 U.S. News................. A2-4 Weather Watch........ B8 World News ........... A5-8 s Copyright 2015 Dow Jones & Company. All Rights Reserved > What’s News i i i World-Wide n Gunmen in Paris stormed the offices of a satirical maga- zine that caricatured Islam, killing a dozen people. Offi- cials identified three suspects, all Frenchmen, one of whom turned himself in. A1, A6-7 n Scientists have discovered a powerful new antibiotic they say can kill an array of germs without the bugs easily becoming resistant to it. A3 n Sen. Warren called for Democrats to adopt a muscu- lar form of liberalism in a speech that included thinly veiled jabs at the Clintons. A4 n Key Senate Republicans indicated that Obama’s nom- inees for attorney general and secretary of defense will probably be confirmed. A4 n The House is set to loosen the rules for when employers must offer health insurance by changing the law’s defini- tion of a full-time worker. A4 n A House GOP push to roll back a series of Wall Street reg- ulations failed to advance amid resistance from Democrats. C3 n Massachusetts’ high court is set to consider how to han- dle convictions based on evi- dence from crime labs with flawed testing practices. A3 n Shell agreed to pay about $80 million to compensate a Nigerian fishing community for two oil-pipeline spills. A8 n Indonesian divers located the tail of AirAsia Flight 8501 in the Java Sea. A8 n Pro-Russia hackers took credit for an attack on key Ger- man government websites. A5 i i i F ed officials are endorsing new stimulus measures by foreign policy makers, most no- tably at the ECB, amid concern about weak growth abroad. A1 Eurozone consumer prices fell 0.2% in December, the first drop in over five years. A5 n Most of the money that poured into Gross’s Janus fund in October and November came from a single office where one of his financial advisers works. A1 n The Obama administration plans to cut FHA insurance premiums on mortgages with low down payments. A2 n Big oil firms, faced with fall- ing prices, must weigh whether to cut capital spending and dividends or take on debt. B1 n Gasoline futures fell to a nearly six-year low after data showed U.S. oil and fuel sup- plies rose to a record high. C1 n U.S. stocks rallied on a bounce in oil prices and up- beat jobs data. The Dow ad- vanced 212.88 to 17584.52. C4 n The FCC’s chief indicated his agency sees consumer ben- efits in expanding regulatory authority over broadband. B1 n The U.S. trade deficit narrowed 7.7% in November as falling oil prices offset weaker demand overseas. A2 n A flight-sharing startup is challenging the FAA’s ef- fective ban on its service. B8 n Samsung said its fourth- quarter operating profit likely fell about 37%. B7 n A Diapers.com co-founder plans a new e-commerce site to compete with Amazon, which bought his firm in 2010. B3 Business & Finance PARIS—Parisians, defiant in the face of terror, poured into Place de la République, lighting candles, waving flags and show- ing unity in the wake of one of the deadliest attacks to hit the country in years. Even as the gunmen who killed 12 people at the satirical magazine Charlie Hebdo were still at large, people clambered atop a monument at Place de la République with signs bearing handwritten slogans such as “Je Suis Charlie” (“I am Charlie”). The crowd spilled into sur- rounding streets, blocking traf- fic and entrances to the city’s metro stations. One of the gun- man later surrendered. A calm reigned over the square at times, with many holding candles and talking qui- etly to those around them. But a minute of silence in which people held up pens to symbol- ize freedom of the press ended in a tumult of cheers and ap- plause. “We aren’t afraid. We aren’t too afraid to say this kind of at- tack is unacceptable,” said Jean- Luc Rousselet, 44, a concert producer who came in the after- noon to join the demonstration. “We are here in solidarity to say nothing can go against lib- erty.” The gathering in Paris echoed a call from French Presi- dent François Hollande for unity in the face of tragedy. He called on all political forces to unite, and said he would meet with the leaders of political groups Thursday. “Today it is the entire repub- lic that has been attacked,” Mr. Hollande said. “We must be aware that our best weapon is our unity. Nothing must divide, oppose or separate us.” On Wednesday, relatively few police were visible around Place de la République, which lies near the offices of Charlie Hebdo. A handful of police in fluorescent vests near the north end of the square helped direct traffic away from the rally. But there was no sign of the heavily armored riot police frequently dispatched to demonstrations in the French capital. Many came from outside the city to show solidarity. Chiheb Bouanene, 49, came from Paris’s suburbs to hold up a handwrit- ten sign that read “I am Mus- lim. I am Charlie.” “I am here to say this isn’t Is- lam,” he said, as others came up Please turn to page A7 BY SAM SCHECHNER AND WILLIAM HOROBIN ‘We Aren’t Afraid’ Reuters Gross Fuels New Fund With His Own Cash After Bill Gross abruptly quit Pacific Investment Management Co., the bond-fund giant he co- founded, in September to join a much smaller rival, the big ques- tion was how much money would follow him. His new firm, Janus Capital Group Inc., subsequently dis- closed that investors poured about $1.1 billion into Mr. Gross’s new fund in October and Novem- ber. That money was critical, be- cause it helped push the Janus Global Unconstrained Bond fund past $1 billion in assets under management, a key threshold for large investors, according to in- dustry experts. Despite Mr. Gross’s status as a star fund manager, some large pension funds and their consultants have said they couldn’t consider a fund with less than $1 billion in assets. But what Janus didn’t tell in- vestors was that, in a previously unreported development, a ma- jority of the money came from a single Southern California bro- kerage office—the same office where one of Mr. Gross’s per- sonal financial advisers works, according to industry executives who have viewed confidential brokerage data. The Morgan Stanley wealth- management office in La Jolla, Calif., routed more than $700 million to Mr. Gross’s Janus fund in October and November, according to people who viewed Please turn to the back page BY KIRSTEN GRIND AND GREGORY ZUCKERMAN LAKEWOOD, Colo.—Let the everyday fans of Elvis Presley make their way to Graceland to see the displays of gold records and custom- made costumes. As far as Nick Andurlakis is concerned, perhaps the best way to appreciate the king of rock ’n’ roll is to pay a visit to his 24-seat cafe just out- side Denver and wrap your mouth around a sandwich composed of almost equal parts pea- nut butter, jelly and ba- con. What is the connec- tion between the late Mr. Presley, who would have turned 80 Thursday, and Mr. Andurlakis, proprietor of Nick’s Cafe? The restaurant owner says he served that very sandwich, dubbed the Fool’s Gold, to the musical pioneer on at least two occasions in the 1970s. At the time, Mr. Andurla- kis, now 58 years old, was a cook at a popular Denver- area steakhouse that he says featured the item as a pricey joke—it cost twice as much as a prime rib-and-lobster combo. But to the peanut butter-loving Mr. Pres- ley, Fool’s Gold was as good as gold, says Mr. Andurlakis. So, when the steakhouse closed in the 1980s and Mr. Andurlakis opened his namesake cafe soon thereafter, he kept on preparing the sandwich as a tribute of sorts. And to make more of his connection with rock royalty, Mr. Andurlakis Please turn to the back page BY CHARLES PASSY In These Most Unlikely of Places, Elvis Never Really Left the Building i i i Beyond Graceland, Rock Tourism Rolls On With a Sandwich, Roller Coaster, Wart Elvis statuette A video image shows gunmen shooting a wounded police officer as they flee the offices of satirical magazine Charlie Hebdo in Paris Wednesday. New York pulls Pimco funds.. A12 Federal Reserve officials, wor- ried about weak growth overseas, are endorsing new measures by foreign officials—most notably at the European Central Bank—to stimulate their economies. Fed officials rarely comment on the decisions taken by foreign central banks and have generally played down risks to domestic growth emanating from abroad. Yet minutes of the Fed’s Dec. 16-17 policy meeting included several references to the urgency U.S. of- ficials and market participants are placing on new policy actions to counteract slow growth outside the U.S. The insight into the Fed’s thinking comes as new figures released from the eurozone on Wednesday showed consumer prices fell 0.2% in December from a year earlier, a larger de- cline than economists had ex- pected and the first drop since October 2009. Falling prices in Europe are in part a result of tumbling oil prices and a symp- tom of weak demand in Europe. Other global soft spots abound: Economic output in Japan con- tracted in the second and third quarters of 2014 and growth in China has disappointed, putting added downward pressure on commodities world-wide. The minutes showed Fed offi- cials “regarded the international situation as an important source of downside risks to domestic real activity and employment.” They added that the risks were particu- larly serious “if foreign policy re- sponses were insufficient.” In another place in the Fed minutes, officials warned that fi- nancial markets had been “impor- tantly influenced by concerns about prospects for foreign eco- nomic growth and by associated expectations of monetary policy actions in Europe and Japan.” The references amounted to a warning—particularly to the Please turn to the next page BY JON HILSENRATH AND BRIAN BLACKSTONE Fed Warns on Global Growth Fears Trade gap narrows....................... A2 Prices in eurozone tumble ...... A5 Shares halt skid............................. C4 Heard on the Street.................. C10 PARIS—Masked gunmen stormed the offices of French sa- tirical magazine Charlie Hebdo on Wednesday, killing a dozen people and decimating a news- room that long took pride in de- fying the outrage—and death threats—stirred by its carica- tures lampooning Islam. The brutal rampage shocked a nation that has been living in dread of reprisal attacks since joining the fight against Islamist insurgents in Africa and the Middle East. The attack—by gun- men armed with AK-47 rifles— triggered an outpouring of pub- lic anger at home and expressions of solidarity from around the world. French authorities late Wednesday identified three sus- pects, all Frenchmen: Said Kouachi, 34 years old; his brother Cherif Kouachi, 32; and 18-year-old Hamid Mourad. Police deployed a vast drag- net with hundreds of officers to conduct a manhunt, searching an apartment in the eastern French city of Reims. Early on Thursday, officials said Mr. Mourad had turned himself into police at the eastern town of Charleville-Mézières and was in custody. Police also re- leased photos of the brothers and issued an appeal for infor- mation on them. It is unclear whether the gun- men acted alone or were part of a broader organization. But they appeared to have planned the at- tack and to have been motivated by radical Islamist beliefs. French television showed footage of two men wearing balaclavas leaving Charlie Hebdo’s offices shouting in French: “We have avenged Please turn to page A6 By Inti Landauro, Noémie Bisserbe and David Gauthier-Villars Terror Strikes Heart of Paris Gunmen Attack French Magazine, Killing at Least 12 Rampage in Paris Signs of planning in assault raise fears.............................. A6 Artists express outrage..... A6 Noted cartoonists killed... A7 Copyright © 2013, Oracle and/or its affiliates. All rights reserved. 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YELLOW

* * * * * * THURSDAY, JANUARY 8, 2015 ~ VOL. CCLXV NO. 6 WSJ.com HHHH $3 .00

DJIA 17584.52 À 212.88 1.2% NASDAQ 4650.47 À 1.3% NIKKEI 16885.33 À 0.01% STOXX600 333.20 À 0.5% 10-YR. TREAS. À 3/32 , yield 1.954% OIL $48.65 À $0.72 GOLD $1,210.60 g $8.70 EURO $1.1841 YEN 119.26

TODAY IN MARKETPLACE

The $140,000-a-Year WelderPLUS Oil Firms Face a New Dilemma

CONTENTSArts in Review.......... D5Corp. News....... B2,3,5,7Global Finance............ C3Heard on Street...... C12In the Markets.......... C4Money & Investing C1,2

Opinion..................... A9-11Small Business......... B4Sports.............................. D6Style & Travel.... D1,3,4U.S. News................. A2-4Weather Watch........ B8World News........... A5-8

s Copyright 2015 Dow Jones & Company.All Rights Reserved

>

What’sNews

i i i

World-WidenGunmen in Paris stormedthe offices of a satirical maga-zine that caricatured Islam,killing a dozen people. Offi-cials identified three suspects,all Frenchmen, one of whomturned himself in. A1, A6-7n Scientists have discovereda powerful new antibioticthey say can kill an array ofgerms without the bugs easilybecoming resistant to it. A3n Sen. Warren called forDemocrats to adopt a muscu-lar form of liberalism in aspeech that included thinlyveiled jabs at the Clintons. A4n Key Senate Republicansindicated that Obama’s nom-inees for attorney generaland secretary of defense willprobably be confirmed. A4n The House is set to loosenthe rules for when employersmust offer health insuranceby changing the law’s defini-tion of a full-time worker. A4nA House GOP push to rollback a series ofWall Street reg-ulations failed to advance amidresistance from Democrats. C3nMassachusetts’ high courtis set to consider how to han-dle convictions based on evi-dence from crime labs withflawed testing practices. A3n Shell agreed to pay about$80 million to compensate aNigerian fishing communityfor two oil-pipeline spills. A8n Indonesian divers locatedthe tail of AirAsia Flight8501 in the Java Sea. A8nPro-Russia hackers tookcredit for an attack on key Ger-man government websites. A5

i i i

Fed officials are endorsingnew stimulus measures by

foreign policymakers, most no-tably at the ECB, amid concernabout weak growth abroad. A1 Eurozone consumer pricesfell 0.2% in December, the firstdrop in over five years. A5nMost of the money thatpoured into Gross’s Janus fundin October and November camefroma single officewhere one ofhis financial advisers works. A1n The Obama administrationplans to cut FHA insurancepremiums on mortgages withlow down payments. A2nBig oil firms, faced with fall-ing prices, must weigh whetherto cut capital spending anddividends or take on debt. B1nGasoline futures fell to anearly six-year low after datashowed U.S. oil and fuel sup-plies rose to a record high. C1n U.S. stocks rallied on abounce in oil prices and up-beat jobs data. The Dow ad-vanced 212.88 to 17584.52. C4nThe FCC’s chief indicatedhis agency sees consumer ben-efits in expanding regulatoryauthority over broadband. B1n The U.S. trade deficitnarrowed 7.7% in Novemberas falling oil prices offsetweaker demand overseas. A2n A flight-sharing startupis challenging the FAA’s ef-fective ban on its service. B8n Samsung said its fourth-quarter operating profitlikely fell about 37%. B7nADiapers.com co-founderplans a new e-commerce site tocompete with Amazon, whichbought his firm in 2010. B3

Business&Finance

PARIS—Parisians, defiant inthe face of terror, poured intoPlace de la République, lightingcandles, waving flags and show-ing unity in the wake of one ofthe deadliest attacks to hit thecountry in years.

Even as the gunmen whokilled 12 people at the satiricalmagazine Charlie Hebdo werestill at large, people clamberedatop a monument at Place de laRépublique with signs bearinghandwritten slogans such as “JeSuis Charlie” (“I am Charlie”).The crowd spilled into sur-rounding streets, blocking traf-fic and entrances to the city’s

metro stations. One of the gun-man later surrendered.

A calm reigned over thesquare at times, with manyholding candles and talking qui-etly to those around them. Buta minute of silence in whichpeople held up pens to symbol-ize freedom of the press endedin a tumult of cheers and ap-plause.

“We aren’t afraid. We aren’ttoo afraid to say this kind of at-tack is unacceptable,” said Jean-Luc Rousselet, 44, a concertproducer who came in the after-noon to join the demonstration.“We are here in solidarity tosay nothing can go against lib-erty.”

The gathering in Paris

echoed a call from French Presi-dent François Hollande forunity in the face of tragedy. Hecalled on all political forces tounite, and said he would meetwith the leaders of politicalgroups Thursday.

“Today it is the entire repub-lic that has been attacked,” Mr.Hollande said. “We must beaware that our best weapon isour unity. Nothing must divide,oppose or separate us.”

On Wednesday, relatively fewpolice were visible around Placede la République, which liesnear the offices of CharlieHebdo. A handful of police influorescent vests near the northend of the square helped directtraffic away from the rally. But

there was no sign of the heavilyarmored riot police frequentlydispatched to demonstrations inthe French capital.

Many came from outside thecity to show solidarity. ChihebBouanene, 49, came from Paris’ssuburbs to hold up a handwrit-ten sign that read “I am Mus-lim. I am Charlie.”

“I am here to say this isn’t Is-lam,” he said, as others came up

PleaseturntopageA7

BY SAM SCHECHNERAND WILLIAM HOROBIN

‘We Aren’t Afraid’

Reuters

Gross FuelsNew FundWith HisOwn Cash

After Bill Gross abruptly quitPacific Investment ManagementCo., the bond-fund giant he co-founded, in September to join amuch smaller rival, the big ques-tion was how much moneywould follow him.

His new firm, Janus CapitalGroup Inc., subsequently dis-closed that investors pouredabout $1.1 billion into Mr. Gross’snew fund in October and Novem-ber. That money was critical, be-cause it helped push the JanusGlobal Unconstrained Bond fundpast $1 billion in assets undermanagement, a key threshold forlarge investors, according to in-dustry experts. Despite Mr.Gross’s status as a star fundmanager, some large pensionfunds and their consultants havesaid they couldn’t consider afund with less than $1 billion inassets.

But what Janus didn’t tell in-vestors was that, in a previouslyunreported development, a ma-jority of the money came from asingle Southern California bro-kerage office—the same officewhere one of Mr. Gross’s per-sonal financial advisers works,according to industry executiveswho have viewed confidentialbrokerage data.

The Morgan Stanley wealth-management office in La Jolla,Calif., routed more than$700million to Mr. Gross’s Janusfund in October and November,according to people who viewed

Pleaseturntothebackpage

BY KIRSTEN GRINDAND GREGORY ZUCKERMAN

LAKEWOOD, Colo.—Let theeveryday fans of Elvis Presleymake their way to Graceland tosee the displays of goldrecords and custom-made costumes. As faras Nick Andurlakis isconcerned, perhaps thebest way to appreciatethe king of rock ’n’ rollis to pay a visit to his24-seat cafe just out-side Denver and wrapyour mouth around asandwich composed ofalmost equal parts pea-nut butter, jelly and ba-con.

What is the connec-tion between the lateMr. Presley, who wouldhave turned 80 Thursday, andMr. Andurlakis, proprietor ofNick’s Cafe? The restaurantowner says he served that very

sandwich, dubbed the Fool’sGold, to the musical pioneer onat least two occasions in the1970s. At the time, Mr. Andurla-kis, now 58 years old, was a cook

at a popular Denver-area steakhouse that hesays featured the itemas a pricey joke—it costtwice as much as aprime rib-and-lobstercombo.

But to the peanutbutter-loving Mr. Pres-ley, Fool’s Gold was asgood as gold, says Mr.Andurlakis. So, whenthe steakhouse closedin the 1980s and Mr.Andurlakis opened hisnamesake cafe soonthereafter, he kept onpreparing the sandwich

as a tribute of sorts. And tomake more of his connectionwith rock royalty, Mr. Andurlakis

Pleaseturntothebackpage

BY CHARLES PASSY

In These Most Unlikely of Places,Elvis Never Really Left the Building

i i i

Beyond Graceland, Rock Tourism Rolls OnWith a Sandwich, Roller Coaster, Wart

Elvis statuette

A video image shows gunmen shooting a wounded police officer as they flee the offices of satirical magazine Charlie Hebdo in Paris Wednesday.

New York pulls Pimco funds.. A12

Federal Reserve officials, wor-ried about weak growth overseas,are endorsing new measures byforeign officials—most notably atthe European Central Bank—tostimulate their economies.

Fed officials rarely commenton the decisions taken by foreigncentral banks and have generallyplayed down risks to domesticgrowth emanating from abroad.Yet minutes of the Fed’s Dec. 16-17policy meeting included several

references to the urgency U.S. of-ficials and market participantsare placing on new policy actionsto counteract slow growth outsidethe U.S.

The insight into the Fed’sthinking comes as new figuresreleased from the eurozone onWednesday showed consumerprices fell 0.2% in Decemberfrom a year earlier, a larger de-cline than economists had ex-pected and the first drop sinceOctober 2009. Falling prices inEurope are in part a result oftumbling oil prices and a symp-

tom of weak demand in Europe.Other global soft spots abound:

Economic output in Japan con-tracted in the second and thirdquarters of 2014 and growth inChina has disappointed, puttingadded downward pressure oncommodities world-wide.

The minutes showed Fed offi-cials “regarded the internationalsituation as an important sourceof downside risks to domestic realactivity and employment.” Theyadded that the risks were particu-larly serious “if foreign policy re-sponses were insufficient.”

In another place in the Fedminutes, officials warned that fi-nancial markets had been “impor-tantly influenced by concernsabout prospects for foreign eco-nomic growth and by associatedexpectations of monetary policyactions in Europe and Japan.”

The references amounted to awarning—particularly to the

Pleaseturntothenextpage

BY JON HILSENRATHAND BRIAN BLACKSTONE

Fed Warns on Global Growth Fears

Trade gap narrows....................... A2 Prices in eurozone tumble...... A5 Shares halt skid............................. C4 Heard on the Street.................. C10

PARIS—Masked gunmenstormed the offices of French sa-tirical magazine Charlie Hebdoon Wednesday, killing a dozenpeople and decimating a news-room that long took pride in de-fying the outrage—and deaththreats—stirred by its carica-tures lampooning Islam.

The brutal rampage shocked anation that has been living indread of reprisal attacks sincejoining the fight against Islamistinsurgents in Africa and theMiddle East. The attack—by gun-men armed with AK-47 rifles—triggered an outpouring of pub-lic anger at home andexpressions of solidarity fromaround the world.

French authorities lateWednesday identified three sus-pects, all Frenchmen: SaidKouachi, 34 years old; hisbrother Cherif Kouachi, 32; and18-year-old Hamid Mourad.

Police deployed a vast drag-net with hundreds of officers toconduct a manhunt, searching anapartment in the eastern Frenchcity of Reims.

Early on Thursday, officialssaid Mr. Mourad had turnedhimself into police at the easterntown of Charleville-Mézières andwas in custody. Police also re-leased photos of the brothersand issued an appeal for infor-mation on them.

It is unclear whether the gun-men acted alone or were part ofa broader organization. But theyappeared to have planned the at-tack and to have been motivatedby radical Islamist beliefs.

French television showedfootage of two men wearingbalaclavas leaving CharlieHebdo’s offices shouting inFrench: “We have avenged

PleaseturntopageA6

By Inti Landauro,Noémie Bisserbe andDavid Gauthier-Villars

Terror Strikes Heart of ParisGunmen AttackFrench Magazine,Killing at Least 12

Rampage in Paris Signs of planning in assault

raise fears.............................. A6 Artists express outrage..... A6 Noted cartoonists killed... A7

Copyright © 2013, Oracle and/or its affiliates. All rights reserved.

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ERPFinancialsProcurementProjectsSupply Chain

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P2JW008000-6-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

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