2013 12 23 cmyk na 04online.wsj.com/public/resources/documents/pageone122313.pdf · 2018-08-27 ·...
TRANSCRIPT
YELLOW
* * * * * MONDAY, DECEMBER 23, 2013 ~ VOL. CCLXII NO. 148 WSJ.com HHHH $2 .00
Lastweek: DJIA 16221.14 À 465.78 3.0% NASDAQ 4104.74 À 2.6% NIKKEI 15870.42 À 3.0% STOXX600 321.14 À 3.7% 10-YR. TREASURY g 5/32 , yield 2.886% OIL $99.32 À $2.39 EURO $1.3673 YEN 104.09
CONTENTSAbreast of the Market C1Corporate News B2-6,9Global Finance............ C3Heard on the Street C8Law Journal................ B8Media............................... B7
Markets Dashboard C4Opinion.................. A13-15Sports............................ B10Moving the Market C2U.S. News................. A2-6Weather Watch........ B9World News.......... A7-11
s Copyright 2013 Dow Jones & Company.All Rights Reserved
>
What’sNews
i i i
World-Widen The U.S. military evacu-ated American citizens from arebel-held town in South Su-dan as ethnic clashes riskedsplitting the country. A1n Germany guided talks withthe Kremlin about freeing oiltycoon Khodorkovsky, peopleclose to the process said. A7n Electroconvulsive therapyerased distressing memoriesin patients, a study in NatureNeuroscience reported. A1nTurkey’s premier dismisseda corruption probe as a plot totopple him as he blastedWest-ern allies and ex-backers. A8nSyrian aircraft poundedrebel-held areas of Aleppo, kill-ing at least 32 people as the re-gime bombing continued. A11n Spain moved to limitabortion rights, sparkingprotests by tens of thousandsof people in 21 cities. A11n Bangladeshi police leveledhomicide charges against theowner of a garment factorywhere fire killed 112. A10n An Egyptian court jailedthree leading activists for vi-olating a new law thattightly restricts protests. A10n Crowds of protestersswarmed Bangkok in a bid toforce Thailand’s premier topostpone elections. A10nStorms poundedmuch ofthe U.S. with wind, rain and ice,but parts of the Northeast en-joyed record warmweather. A3n An ice storm knocked outpower to hundreds of thou-sands in eastern Canada. A11n Died: Edgar Bronfman, 84,former Seagram head, philan-thropist and Jewish leader. A11
i i i
Apple plans to start offer-ing the iPhone on China
Mobile’s network starting Jan.17, giving Apple access to over700 million subscribers. B1n Goldman plans to contrib-ute up to 20% of a new real-estate-backed fund as the firmnavigates around new curbsunder the Volcker rule. C1nMoney managers expectstocks to rise in 2014 but at aslower pace. The S&P 500 ison track to post its biggestpercentage gain since 1997. C1n Paulson’s hedge fund soldits Washington Mutual bondsafter J.P. Morgan filed a suitlast week seeking billions fromthe bank’s 2008 failure. C3nGasoline futures are climb-ing amid unseasonably strongdemand. Prices surged 5.9% lastweek to a three-month high. C5n Fortress is in talks withbanks for financing to ac-quire wireless firm Light-Squared out of bankruptcy. B9nYRC is close to raising fundsto cover debt payments as itseeks to persuade employeesto extend their contracts. B2n Tiffany must pay Swatchnearly $450 million in dam-ages over a failed partnership,an arbitration panel said. B3n The FCC approved two bigmedia deals by Gannett andTribune despite complaintsof industry consolidation. B7n Target’s customer trafficfell this weekend in the wakeof a massive data breach. B3n The CFTC voted to extendsome of its swaps rules tooverseas companies. C5
Business&Finance
JASON GAY
Top 10 in SportsMARKETPLACE The Cost of Free Returns
USA
TodaySp
orts/R
euters
(far
left);Getty
Images
Monday is the final day forconsumers to get new healthcoverage that takes effect whenthe new year arrives, leavingthousands of people racing tosign up in time—and health in-surers trying to figure outwhether the federal health lawwill work in the way they hadhoped.
The number of Americans en-rolling continues to fall short ofthe goals the Obama administra-tion has laid out, which is aproblem for the White House.
It also represents a problemfor the insurance industry, whichcalculated that the prospect ofmillions of new customersbrought their way by the Afford-able Care Act and its coveragerequirements would make up forany disruption that came alongwith the law. Karen Ignagni, theindustry’s top representative inWashington, spent the weekendmanaging the fallout after theadministration overhauled itsapproach to people who buy cov-erage on the individual market.
The insurers Ms. Ignagni rep-resents as head of the industry’smain lobbying group, America’sHealth Insurance Plans, got latenotice Thursday night of thenew rules: People dumped bytheir insurers could buy bare-bones “catastrophic” plans orget a hardship exemption from
PleaseturntopageA4
BY ELIZABETH WILLIAMSONAND LOUISE RADNOFSKY
HealthDeadlineRattlesIndustryRule Change PosesTest for Insurers
NAIROBI, Kenya—The U.S. mil-itary on Sunday rushed to evacu-ate American citizens from arebel-held town in South Sudan,the latest sign that a country theU.S. helped create might be spi-raling toward civil war.
About 15 Americans wereevacuated on Sunday from thetown of Bor in helicopters, ac-cording to a State Department
spokeswoman. The flights werepart of a broader exodus of inter-national workers and South Su-danese from fighting betweenfactions of South Sudan’s army.The U.S. has evacuated about 380U.S. officials and private citizens,said the spokeswoman, Jen Psaki.
A political power struggle be-tween former South SudaneseVice President Riek Machar andPresident Salva Kiir ahead of2015 elections appears to have
set off the violence. It quickly de-scended into ethnic clashes thatrisk splitting the country of 10million.
By Sunday, rebel factions al-lied with Mr. Machar, a memberof the Nuer ethnic group, had so-lidified control of territory theyseized in a week of gunbattleswith government forces thathave left 500 dead, according tofigures provided by South Su-dan’s military, other officials and
the U.N.Mr. Kiir, from the largest eth-
nic group, the Dinka, said lastweek that his former deputy andrival for the presidency had at-tempted a coup and been beatenback. Mr. Machar denied an at-tempt to overthrow Mr. Kiir butthen said it was time for Mr. Kiirto go.
The dispute quickly widenedto Bor, the capital of South Su-
PleaseturntopageA8
BY HEIDI VOGT
South Sudan Refugees SwellAs Americans Are Evacuated
Wesley Fisher has been con-sumed for the past 25 years by aseemingly impossible question:What became of the many culturaltreasures stolen from Jews duringthe Holocaust?
Then last month, while poringover headline-grabbing images ofart seized by authorities from aMunich apartment, he had an “Ah-ha” moment. A Toulouse-Lautrecprint, of a dancing couple, seemedeerily familiar.
Mr. Fisher is the research di-rector for the Conference on Jew-ish Material Claims Against Ger-many, the New York-basedorganization tasked with compen-sating Holocaust victims for Nazipersecution. For years, he has attempted to chroniclethe Hitler regime’s looting across Europe and theformer Soviet Union. In particular, he fought to cre-ate a database that would collate far-flung recordson works taken by the Nazis from French Jews.
“I was trying to push the idea that property theft
was an integral part of the geno-cide against the Jews,” says Mr.Fisher, 69 years old. “But our soci-ety concentrated on the murders,the killings.”
Now, the obscure databasecould be instrumental in helpingto identify some owners of theroughly 1,400 works seized lastmonth from the Munich apart-ment of Cornelius Gurlitt, son of aprominent Nazi art dealer.
Within an hour of spotting theToulouse-Lautrec print, Mr. Fisherconsulted the database and founda possible match—a lithograph ofthe same approximate size andbearing the same title, “La GoulueDansant avec Valentin Le Dé-sossé,” as the newly discoveredprint.
The lively work, according to Nazi records in thedatabase, had belonged to Esther Van Cleef, Jewishmatriarch of the illustrious Van Cleef & Arpels jew-elry dynasty, and confiscated during the war. Eventu-ally, the Germans brought it to the Jeu de Paume
PleaseturntopageA12
BY LUCETTE LAGNADO
THE ART DETECTIVE
Quest to Track Nazi LootStirs Complex Emotions
Scientists have zapped anelectrical current to people’sbrains to erase distressing mem-ories, part of an ambitious questto better treat ailments such asmental trauma, psychiatric dis-orders and drug addiction.
In an experiment, patientswere first shown a troublingstory, in words and pictures. Aweek later they were remindedabout it and given electroconvul-sive therapy, formerly known aselectroshock. That completelywiped out their recall of the dis-tressing narrative.
“It’s a pretty strong effect.We observed it in every subject,”said Marijn Kroes, neuroscientistat Radboud University Nijmegenin the Netherlands and lead au-thor of the study, published Sun-day in the journal Nature Neuro-science.
The experiment recalls theplot of the movie “Eternal Sun-shine of the Spotless Mind,” inwhich an estranged couple erase
memories of each other.Science has tinkered with
similar notions for years. In ex-posure treatment, repetitive ex-posure to a phobia in a non-threatening way is designed tohelp patients confront theirfears and gradually weaken thefear response, a process knownas extinction. Some researchersalso are experimenting with an-tianxiety drug propranolol. Thehope is that one day it may bepossible to selectively eliminatea person’s unwanted memoriesor associations linked to smok-ing, drug-taking or emotionaltrauma.
Scientists used to think thatonce a memory took hold in thebrain, it was permanently storedand couldn’t be altered. Peoplewith anxiety disorders weretaught to overcome their fearsby creating a new memory. Yetthe old memory remained andcould be reactivated at any time.
About a decade ago, scientistsmade a surprising discovery.
PleaseturntopageA6
BY GAUTAM NAIK
Unwanted MemoriesErased in Experiment
Turkey-U.S. Relations Take a Hit as Corruption Scandal Stirs Unrest
STREET FIGHT: Turkey’s prime minister threatened Sunday to downgrade ties with the U.S., claiming that Western powers are fueling a briberyinvestigation that implicated his government, as thousands of demonstrators flooded Istanbul’s streets calling for the cabinet to resign. A8
Bulent
Kilic/A
genceFrance-Presse/Getty
Images
The North Pole may have SantaClaus, but Christmas at the bot-tom of the earth comes with arace where runners vie for a cov-eted prize: a long, hot shower.
Nearly all of the 125 scientists,engineers and odd-jobbers wholive at the American South Polestation at this time of year bravethe cold for the annual RaceAround the World. It covers atwo- to three-mile route, aroundmultimillion-dollar research proj-ects and over a snow-covered air-plane runway before loopingaround the geographic pole, ex-actly 90 degrees south of theequator.
The racecoursechanges year to yeardepending on who isaround to map it out,and participants usecross-country skis, bi-cycles and sometimesmakeshift floats to getto the finish line. Twoyears ago, on a windyChristmas, one com-petitor juggled alongthe course. Most Po-lies, as residents arecalled, race for fun and the rightto claim that they celebrated theholiday in every time zone on theplanet.
Yet some runners compete towin, spending weeks training in
frigid, icy conditions.Rickey Gates, a profes-sional runner, got a jobwashing dishes at thePole to participate inthe race and secure aberth in the McMurdomarathon, which takesplace at another Amer-ican Antarctic station,more than 800 milesaway.
He ran outside everyday for an hour or two
at the Pole, covering five to 15miles, and won the race in 2010on a day when temperatures gotas high as 10 below zero—“actu-ally quite balmy,” he said. The av-
PleaseturntopageA12
BY RACHEL FEINTZEIG
At South Pole, Christmas Runners Vie for Steamy Prizei i i
Winner of Race in Frigid Temperatures Gets a Long, Hot Shower
Rickey Gates
Deep Freeze Hits Holiday Travel
ICY SLICK: Cars spun out on the side of a highway on Sunday nearPort Washington, Wis., as up to 8 inches of snow accumulated in thearea. Storms snarled holiday-season travel in much of the U.S. A3
Milw
aukeeJourna
lSentinel/AssociatedPress
Image of Toulouse-Lautrec workprovided by the German prosecutor.
Aug
sburgPu
blicProsecutor’sOffice/Eu
ropean
Presspho
toAgency
CM Y K CompositeCompositeMAGENTA CYAN BLACK
P2JW357000-5-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
P2JW357000-5-A00100-1--------XA