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* * * * * MONDAY, NOVEMBER 25, 2013 ~ VOL. CCLXII NO. 125 WSJ.com HHHH $2 .00

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What’sNews

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World-Widen Iran and six world powersreached an interim nucleardeal, but it faces oppositionfrom both Democratic andRepublican leaders. A1, A10n Israeli leader Netanhayucondemned the deal as a “his-toric mistake,”while SaudiArabia maintained a pointedsilence on the pact. A11, A12nThe NSA’s chief offered toresign shortly after Snowdenrevealed himself in June as thesource of leaked documents, asenior U.S. official said. A1nAfghan President Karzairejected an assembly’s requestto rapidly seal a security pactwith the U.S. and insisted on“preconditions” to a deal. A13nThe U.S. and JapanwarnedChina against escalating ten-sions in the East China Sea af-ter Beijing declared a new air-defense zone in the region. A8nEgypt’s government signedinto a law a bill restricting pro-tests at a time of near-daily an-timilitary demonstrations. A13n Honduras’s ruling partywas leading in early returnsin the presidential race, hold-ing off a leftist coalition. A14nUkrainians protested theirpresident’s rejection of a broaddeal with the EU in favor ofcloser ties with Russia. A14n Typhoon Haiyan’s impacton the Philippines was appar-ently magnified by severalmissteps by officials. A14nAwinter storm that led tocanceled flights and car wrecksin Texas could disrupt Thanks-giving travel in the East. A6n Died: Peter Lewis, 80, ex-CEO of insurer Progressive. B3

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Companies are bracing foran influx of people in their

insurance plans due to the newhealth law, adding pressure toshift more costs to workers. A1n Chrysler is pushing to getan IPO done by mid-Decem-ber that would let majorityowner Fiat buy full controlbefore the auto maker lists. B1nMedicare is reducing pay-ments to kidney dialysis pro-viders by less than 1%, revers-ing plans for larger cuts. B2n Short-selling hedge fundsare down nearly 15% so farthis year as stocks surge. TheDow finished up last week forthe seventh week in a row. C1n Swiss voters rejected aninitiative to cap executivesalaries as 12 times that ofthe lowest-paid employee. B1n Cinda has drawn 10 cor-nerstone investors to take up44% of the estimated $2.46billion the Chinese bankseeks to raise in its IPO. C3n At least 15 buyout firmsfocused on Spain and Italy arelooking to raise funds with avalue of over $5.4 billion. C1n J.P. Morgan’s top lawyerraised questions about the sizeof government fines in thewake of a record settlement. C1n Cornell is launching aone-year M.B.A. programthat focuses on engineersand software developers. B4nAustralia’s Lend Leaseplans to start a China-focusedretail-property fund. C6n The new “Hunger Games”movie opened to $161.1 millionin the U.S. and Canada. B6

Business&Finance

America’s allies in Israel andSaudi Arabia view the new nu-clear agreement with Iran witha mixture of unease and alarm.

But for some inthe skeptics’camp, the

broader concern extends wellbeyond the preliminary nucleardeal.

Their underlying worry isthat the negotiations with Iranrepresent just the latest evi-dence that a war-weary U.S. is

slowly seeking to close thebooks on a series of nettle-some long-term problems, al-lowing Washington to pullback from its longtime com-mitment to the Middle East.

In this view, the attempt tobring the nuclear dispute withIran to a close without militaryaction is of a piece with othersteps the Obama administra-tion has taken: withdrawalsfrom Iraq and Afghanistan, ineach case amid doubts whethermuch of an American presencewill remain; an agreement on

Syria that leaves Bashar al-As-sad in power, without hischemical weapons but alsowithout being subjected to aU.S. military strike; even an ef-fort to achieve an Israeli-Pales-

tinian peace deal that could fi-nally close the book onSecretary of State John Kerry’srenewed effort to resolve thatdecades-old conflict.

Though each of those stepscan be seen as a logical policyevolution, America’s friendsworry that the administration’smoves, when taken together,indicate the U.S. has simplylost its appetite for continuedentanglements in a region thathas been at the center ofAmerican foreign policy since

PleaseturntopageA11

BY GERALD F. SEIB

Allies Fear a U.S. Pullback in Mideast

LONDON—A groundbreakingdeal to curb Iran’s nuclear pro-gram faces towering obstacles athome and abroad to becoming apermanent agreement, startingwith the U.S. Congress and two ofAmerica’s closest allies.

The leaders of both the Demo-cratic and Republican parties arethreatening to break with Presi-dent Barack Obama’s policy andenact new punitive sanctions onIran, arguing that the interim dealreached in Geneva on Sundayyields too much to the Islamistregime while asking too little.

“The disproportionality of thisagreement makes it more likelythat Democrats and Republicanswill join together and pass addi-tional sanctions when we returnin December,” said Sen. CharlesSchumer (D., N.Y.), an influentialmember of the Senate Democraticleadership.

Such a move could kill the na-scent nuclear accord, U.S. and Ira-nian officials agree, and add tomore recent political embarrass-ments for the White House.

Reaching a comprehensive dealwith Iran also faces formidablediplomatic and technical chal-lenges, said U.S. and European of-ficials. Washington wants to even-tually dismantle much of Iran’snuclear infrastructure, including aheavy water reactor and enrich-ment facilities, steps Tehran hasso far refused to take.

The White House has signaledit would defend the agreement bydirectly appealing to lawmakersand to foreign leaders. Mr. Obamaon Sunday spoke by telephone toIsraeli Prime Minister BenjaminNetanyahu, who has campaignedagainst the pact. The U.S. leadersaid he wanted to consult with Is-raelis on talks, and agreed Mr. Ne-tanyahu “has good reason to beskeptical about Iran’s intentions.”

Iran celebrated the deal onSunday as a political victory forPresident Hasan Rouhani and astep toward economic relief.

PleaseturntopageA10

BY JAY SOLOMON

Iran Pact Faces Stiff OppositionIsrael and Some U.S. Lawmakers Blast Interim Deal to Curb Nuclear Program, Ease Sanctions

WASHINGTON—Shortly afterformer government contractorEdward Snowden revealed him-self in June as the source ofleaked National Security Agencydocuments, the agency’s director,Gen. Keith Alexander, offered toresign, according to a senior U.S.official.

The offer, which hasn’t previ-ously been reported, was de-clined by the Obama administra-tion. But it shows the degree towhich Mr. Snowden’s revelationshave shaken the NSA’s founda-tions—unlike any event in its six-decade history, including theblowback against domestic spy-ing in the 1970s.

The post-Snowden era hasforced a major re-evaluation ofNSA operations by the adminis-tration and on Capitol Hill, and

the review is likely to alter theagency’s rules of the road. “Itwas cataclysmic,” RichardLedgett, who heads a specialNSA Snowden response team,said of the disclosures. “This isthe hardest problem we’ve hadto face in 62 years of existence.”

Broad new controls, though,run the risk of overcorrecting,leaving the agency unable to re-spond to a future crisis, critics ofthe expected changes warn.

When the leaks began, sometop administration officialsfound their confidence in Gen.Alexander shaken because hepresided over a grave securitylapse, a former senior defenseofficial said. But the officials alsodidn’t think his resignationwould solve the security problemand were concerned that lettinghim leave would wrongly hand

PleaseturntopageA6

BY SIOBHAN GORMAN

ShakenNSAGrapplesWith anOverhaul

President Obama and Iranian President Rouhani celebrated the pact as a victory, while Israeli Prime Minister Netanyahu warned he wasn’t bound to the deal.

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BADGER, Minn.—The lastthing President Barack Obamaneeds this Thanksgiving is afrantic turkey fouling upWednesday’s White House par-don ceremony. It is John Burkel’sjob to make sure that doesn’thappen.

The problem is that turkeysaren’t used to being paraded infront of a crowd of noisy school-children, posing for flash pho-tography or encountering theSecret Service. In past years, thestress has led the ceremonialbird to flap about and try to es-cape after being spooked by ev-erything from a shiny beltbuckle to First Family pets.

Mr. Burkel, the fourth-genera-

tion farmer selected to supplythis year’s turkey, took nochances. He put his birdsthrough a regimenhe hopes will accli-mate them to thesights, sounds andfeel of the publicpardon process, allin an effort to pre-vent them from ru-ining the festivities.

“The more peoplewho are around, themore jumpy theyget, unless they areused to it,” said Mr.Burkel, this year’schairman of the National TurkeyFederation, a trade group taskedwith raising the pardoned bird.

Mr. Burkel randomly selected

80 male poults—young fowlsgenerally destined for the dinnertable—to audition. Twenty made

the initial cut, se-lected mainly fortheir plump, snowygood looks. Lastweek, Mr. Burkelpicked the two tomswho will go to Wash-ington—the luckybird along with anunderstudy.

The birds trainedin a 16-by-20 footshed that Mr. Burkelbuilt behind hishome. He ran them

through four hours of drillsdaily—a two-hour session in themorning before Mr. Burkel at-

PleaseturntopageA14

BY PERVAIZ SHALLWANI

So How Does a Turkey Get to the White House?i i i

Presidential Pardon Gig Takes Practice, a Little Help From Beyoncé

The front-runner

Companies are bracing for aninflux of participants in their in-surance plans due to the health-care overhaul, adding to pressureto shift more of the cost of cover-age to employees.

Many employers are bettingthat the Affordable Care Act’s re-quirement that all Americans havehealth insurance starting in 2014will bring more people into theirplans who have previously optedout. That, along with other risingexpenses, is prompting companiesto raise workers’ premium contri-butions, steer them toward high-deductible plans and charge themmore to cover family members.

The changes as companies rollout their health plans for 2014aren’t solely the result of the ACA.Employers have been pushingmore of the cost of providing

health insurance on to their work-ers for years, and firms that aren’tbooking much sales growth due tothe sluggish economy are underheavy pressure to keep expensesdown.

Some are dealing with risingexpenses by making employeespick up a bigger share of the pre-miums for coverage of familymembers. Employees this year areresponsible for an average 18% ofthe cost of individual coverage, but29% of the cost of family coverage,according to a survey of employeehealth plans by the Kaiser FamilyFoundation and the Health Re-search & Educational Trust.

“We have seen employers domore cost-shifting, if you will, foran employee to pay a higher por-tion of the cost of dependent andspouse coverage,” said TracyWatts, U.S. health-care reform

PleaseturntopageA4

BY THEO FRANCIS

Companies Prepare to PassMoreHealthCosts toWorkers

TODAY IN JOURNAL REPORT

What CEOs Want From WashingtonMARKETPLACE The Shadowy World of Fake Twitter Accounts

Getty

Images

2013: $380

$83

Family PlanEmployees' average monthlypremiums for covering familiesand individuals

The Wall Street Journal

Source: Kaiser/HRET Survey of EmployerSponsored Health Benefits

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ANALYSIS

The Iran Agreement Two-track negotiations.... A10 Companies see promise in

relaxation of sanctions.... A10 Silence in Saudi Arabia,

trepidation in Israel..... A11, 12 Experts assess terms........ A12

Icy Storm Roils Thanksgiving Plans

CLEARING THE PATH: The East Coast and the Southeast braced fora storm that was expected to snarl Thanksgiving travel. Albuquerque,N.M., above, plowed and sanded roads after the storm on Sunday. A6

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uerque

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