INSIDER
Shoplifting ring stole $2M in cosmetics and clothes then resold them abroad, prosecutors say
Read full article: Shoplifting ring stole $2M in cosmetics and clothes then resold them abroad, prosecutors sayLaw enforcement officials say they have broken up a shoplifting ring that stole nearly $2 million in merchandise from well-known stores and resold the items in New York City as well as in the Dominican Republic.
Pelosi taps DC National Guard head to lead House security
Read full article: Pelosi taps DC National Guard head to lead House securityNational Guard troops were delayed in getting to the building as the rioters beat up police officers and smashed through windows and doors to get in. On Thursday, seven House committees asked 10 federal agencies for documents and communications from the government as part of a wide-ranging investigation. The Senate Homeland and Governmental Affairs Committee and the Senate Rules Committee have already held two hearings with security officials about what went wrong. The security officials described violent attacks on overwhelmed police officers and desperate pleas for backup. As the committees investigate, Capitol officials are improving the building's physical security, including reinforcing the House doors that the rioters attempted to breach.
Capitol Police chief appeals for National Guard to stay
Read full article: Capitol Police chief appeals for National Guard to stayScott Applewhite)WASHINGTON – Worried about continuing threats, the acting chief of the U.S. Capitol Police appealed to congressional leaders Thursday to use their influence to keep National Guard troops at the Capitol, two months after the law enforcement breakdowns of the deadly Jan. 6 insurrection. Pittman said she needed the leaders' assistance with the three-member Capitol Police Board, which reports to them. Paul Irving, who served on the Capitol Police Board as House sergeant-at-arms, denied that Sund asked him to call the Guard. He ultimately called the commanding general of the D.C. National Guard just before 2 p.m., who in turn testified that the request for help was delayed by the Defense Department. “We have the razor wire, we have the National Guard.
The Latest: US House to wrap week early amid threat of violence
Read full article: The Latest: US House to wrap week early amid threat of violenceScott Applewhite)WASHINGTON – The Latest on congressional testimony about the Capitol insurrection (all times local):5 p.m. The U.S. House is abruptly finishing its work for the week given the threat of violence at the Capitol by a militia group seeking to storm the building, as happened in a deadly siege Jan. 6. House Majority Leader Steny Hoyer notified lawmakers late Wednesday of the sudden schedule change. Gibson comes to the Senate from a 33-year military career, including as a senior intelligence officer in the Office of the Director of National Intelligence, supporting troops in the Middle East, Schumer said. Walker says D.C. officials pleaded with the Army officials to quickly send the National Guard to help police guard the Capitol.
General: Pentagon hesitated on sending Guard to Capitol riot
Read full article: General: Pentagon hesitated on sending Guard to Capitol riotGuard troops who had been waiting on buses were then rushed to the Capitol, arriving in 18 minutes, Walker said. Much of the focus at Wednesday's hearing was on communications between the National Guard and the Defense Department. Contee said Sund pleaded with Army officials to deploy National Guard troops as the rioting escalated. AdAccording to the Defense Department, Walker was called at 3 p.m. by Army officials, and was told to prepare Guard troops to deploy. Thousands of National Guard troops are still patrolling the fenced-in Capitol, and multiple committees across Congress are investigating Jan. 6.
Ford posts strong earnings but cuts outlook
Read full article: Ford posts strong earnings but cuts outlookWilliam Walker via CNN(CNN) - Ford, which is likely the next US automaker to face negotiations with the United Auto Workers union, reported strong earnings Wednesday. Shares of Ford fell more than 2% in after-hours trading on the lowered guidance. But for the just completed third quarter, the company reported adjusted earnings of $1.4 billion, up $182 million from a year earlier. The strong earnings came despite a modest 2% decline in sales revenue in the quarter. Ford is expected to be the focus of negotiations with the union once the strike at GM ends.
Ford debt downgraded to junk
Read full article: Ford debt downgraded to junkWilliam Walker via CNN(CNN) - Moody's downgraded Ford's credit to junk Monday evening. It said the automaker faces considerable business challenges, and its poor financial performance badly positions Ford to take on its planned $11 billion restructuring. News of the downgrade sent shares of Ford down 3% in premarket trading Tuesday. During the Great Recession, Ford and other US automakers suffered massive losses and junk bond credit ratings, which can raise the cost of borrowing. Ford in 2012 was upgraded to investment grade, which is what a credit rating is called when it is not considered a junk bond.
Confused investors keep buying FORD, thinking it's Ford
Read full article: Confused investors keep buying FORD, thinking it's FordThat's because Forward Industries, which is worth just $10 million, trades under the ticker symbol "FORD." The iconic Ford Motor has the ticker symbol of "F."This, and other examples of ticker symbol confusion, may cost investors more than $1 million a year in transaction costs, according to two professors who have studied what happens when investors buy the wrong stocks. "That's how long it takes for the stock price to return to normal, probably once investors realize they made a mistake." The 'smart' money often gets confused tooIt's not just small-time mom and pop individual investors who get mixed up. Ticker confusion also can upend sophisticated institutional investors, Nikorov and Balashov found.
Ford cutting 12,000 jobs as part of its European overhaul
Read full article: Ford cutting 12,000 jobs as part of its European overhaulWilliam Walker via CNN(CNN) - Ford is cutting 12,000 jobs and closing six plants as part of a major overhaul of its struggling business in Europe. The carmaker is selling a manufacturing facility in Slovakia and closing factories in Britain, France and Russia, reducing the number of European plants from 24 this year to 18 by the end of 2020. Stewart Rowley, president of Ford Europe, said Thursday that the changes would result in a "more targeted business." Ford announced a year ago that it would spend $11 billion over the next three to five years to reshape its operations around the world. The British auto industry has been hit hard by concerns that the United Kingdom could leave the European Union later this year without a trade deal.