Zorro
Zorro's JournalGunman Shoots 2 Kindergartners at Rural Christian School in Targeted Attack
A gunman shot two kindergarten students, ages 5 and 6, at a small parochial school in rural California on Wednesday afternoon and then died from what the authorities believe was a self-inflicted gunshot wound, a spokesman for the Butte County Sheriff’s Office said.
The authorities believe that the gunman targeted the school because of its affiliation with the Seventh-day Adventists, a Protestant Christian denomination. The two students, both boys, are in “extremely critical condition” and are being treated for “very, very serious injuries” at a trauma center in the Sacramento area, Kory L. Honea, the sheriff of Butte County, said at a news conference Wednesday night.
At around 1:10 p.m., the authorities responded to the school, Feather River Adventist, in Oroville, Calif., about 60 miles north of Sacramento, after receiving 911 calls of an active shooter, said Megan McMann, a spokeswoman for the sheriff’s office.
Preliminary reports suggested that the gunman “came on to campus to meet with the principal to discuss the possibility of enrolling” a family member as a student in a meeting that was previously scheduled, Sheriff Honea said. The meeting was “cordial,” but Sheriff Honea said investigators were still trying to better understand whether or not that meeting was a “ruse” by the gunman so he could get onto the school grounds.
https://www.nytimes.com/2024/12/04/us/school-shooting-oroville-california.html?unlocked_article_code=1.fE4.O46k.HrsnhjzCxbU1&smid=url-share
San Diego County's GDP up to $261.7 billion -- bigger than half of U.S. states
San Diego County last year saw its GDP rise 1.4% to $261.7 billion — bigger than half the states in America.
In data released Wednesday by the U.S. Bureau of Economic Analysis, the U.S. gross domestic product grew 2.9% to $22.7 trillion — by far the largest in the world.
Slower GDP growth was common across the U.S. in 2023 in the bureau’s delayed data, but followed major gains during and after the pandemic. For instance, San Diego’s GDP rose 7.3% in 2021 and 3.1% in 2022.
GDP is the value of goods and services produced by the county’s economy less the value of goods and services used up in production. The bureau uses real values, which takes into account inflation and is part of the reason it takes longer to calculate data.
San Diego County had the 10th-largest GDP in the nation. Los Angeles County was the biggest at $802 billion. Nearby Orange County was ninth at $273 million. Petroleum County, Mont., had the lowest at $17 million.
https://www.sandiegouniontribune.com/2024/12/04/san-diego-countys-gdp-up-to-261-7-billion-bigger-than-half-of-u-s-states/
Wouldn't be surprised if Trump declares war on California for being too darn woke and productive.
Honda to recall over 205,000 US SUVs over fuel leak concern, NHTSA says
Source: Reuters via Yahoo News
The National Highway Traffic Safety Administration said on Thursday that Honda would recall about 205,760 SUVs in the United States over a fuel leak issue.
The recall includes some Passport and Pilot vehicles from model years 2023-2025.
The filler neck tube and pipe may separate, allowing fuel to leak on impacted models, the U.S. auto safety regulator said.
The NHTSA added that dealers will inspect and repair the fuel filler neck tube and pipe as necessary for free.
Read more: https://finance.yahoo.com/news/honda-recall-over-205-000-103751029.html
South Korean president lifts martial law, with cabinet approving reversal
Source: Washington Post
South Korean President Yoon Suk Yeol said in televised remarks early Wednesday local time that he has withdrawn troops and will lift the martial law he declared just hours earlier. South Korea’s legislative body, the National Assembly, quickly gathered late Tuesday and voted to block Yoon’s decree. By early Wednesday, the cabinet had passed a measure lifting martial law. It is the first time in more than four decades that martial law has been declared in the country.
Read more: https://www.washingtonpost.com/world/2024/12/03/south-korea-yoon-martial-law/
Looks like the Korean people were having none of that.
How Private Funds Could Hurt Americans Under Trump
Over the past few years, financiers who manage almost $30 trillion in private equity, hedge and venture capital funds have shed their reluctance to exert political influence. Steven Mnuchin brought hedge fund experience to his role as the head of the Treasury during President-elect Donald Trump’s first term. More recently, Glenn Youngkin moved from private equity to the governor’s mansion in Virginia. But no presidency has been as thoroughly surrounded and supported by the private fund industry as America’s incoming administration.
Mr. Trump’s family, fund-raisers and financial lieutenants are more likely to be fund managers than any prior presidency, including his first term. Vice President-elect JD Vance and Donald Trump Jr. have been or have become venture capitalists. The president-elect has also tapped Scott Bessent, a hedge fund manager, to serve as Treasury secretary.
The investment portfolios and civic institutions these managers govern could hold a clue to what they may likely do: concentrate ever more control over our financial system into substantially less regulated, less transparent capital markets dominated by firms and financiers about whom Americans know very little.
If he becomes secretary, Mr. Bessent will be the second nominee to move from managing hedge funds to leading the Treasury Department. Previously, the role was more of a sinecure for alumni from the famous houses of Wall Street’s ancien régime, investment banks: Henry Paulson, who led the department under President George W. Bush, and Robert Rubin, under President Bill Clinton, were both Goldman Sachs veterans. But while investment banks are heavily regulated and advise others, private funds are largely unregulated and invest on their own behalf.
https://www.nytimes.com/2024/12/03/opinion/trump-presidency-billionaires.html?unlocked_article_code=1.ek4.8vQv.D546UVDKWqIn&smid=url-share
Be prepared for the looting of America.
Will Trump push for plans to privatize Fannie Mae, Freddie Mac?
The prospect of Fannie Mae and Freddie Mac privatization is once again on the table as President-elect Donald Trump prepares to take office.
These two mortgage giants, which back about 70% of U.S. mortgages, have been under government conservatorship since the 2008 financial crisis. Trump’s earlier efforts to privatize the companies stalled during his first term, but supporters believe his new administration may finally achieve this goal.
Trump allies, including billionaire investor Bill Ackman, are optimistic. Ackman’s firm, Pershing Square, recently noted that privatization could transform the companies and potentially benefit stakeholders. However, the stakes for borrowers are high.
Economist Mark Zandi estimates that privatization could add $1,800 to $2,800 annually to mortgage costs for a typical borrower, with the burden falling most heavily on lower-income families.
https://www.mpamag.com/us/mortgage-industry/market-updates/will-trump-push-for-plans-to-privatize-fannie-mae-freddie-mac/516264
Tesla Cybertruck workers begin 3-day furlough, signaling demand slowdown
Tesla’s (TSLA) Cybertruck may be hitting a demand rut.
On Monday, Tesla emailed Cybertruck line workers at Giga Austin telling them to take the next three days off. "On Tuesday, Wednesday, and Thursday this week (Dec. 3-5), you do not need to report to work," the memo said, per Business Insider. Despite being sent home, Tesla workers were still paid for working those days.
This is not the first time Cybertruck workers have been told not to work on the factory line. In October, four factory workers told Business Insider that several times they'd either been “sent home or given additional training exercises or cleaning duties to fill their scheduled work hours.”
Cutting shifts on the Cybertruck production line likely means Tesla is controlling inventory, which could be the result of slowing sales.
https://finance.yahoo.com/news/tesla-cybertruck-workers-begin-3-day-furlough-signaling-demand-slowdown-155804324.html
That is one fugly vehicle.
SpaceX Weighs Tender Offer at Roughly $350 Billion Valuation
SpaceX is in discussions to sell insider shares that could boost the value of Elon Musk’s rocket and satellite company to around $350 billion, according to people familiar with the matter.
That would be a significant premium to a previously mulled valuation of $255 billion as reported by Bloomberg News and other media outlets just last month. It would also cement SpaceX’s status as the most valuable private startup in the world. SpaceX was last valued at about $210 billion in a tender offer earlier this year.
SpaceX, formally known as Space Exploration Technologies Corp., didn’t immediately respond to a request for comment.
The current conversations with SpaceX are ongoing and the details of a potential transaction could change depending on interest from insider sellers and buyers, said the people, who asked not to be identified because they’re not authorized to speak publicly.
https://finance.yahoo.com/news/spacex-discusses-tender-offer-roughly-230920967.html
South Korea's Yoon Declares Martial Law in Emergency Address
Source: Bloomberg
South Korean President Yoon Suk Yeol declared martial law on Tuesday in an emergency national address televised live.
Yoon said the decision was made to protect freedom and constitutional order, as he accused the opposition of trying to paralyze the administration with impeachment moves.
“Through the declaration of martial law, I will rebuild and protect a free South Korea,” Yoon said, adding the decision was “inevitable.”
South Korea’s defense minister ordered a meeting with the military’s top commander, according to Yonhap News.
Read more: https://www.bloomberg.com/news/articles/2024-12-03/south-korea-s-yoon-declares-martial-law-in-emergency-address?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTczMzIzNDA4OSwiZXhwIjoxNzMzODM4ODg5LCJhcnRpY2xlSWQiOiJTTlg3N05EV1gyUFMwMCIsImJjb25uZWN0SWQiOiJDNjgyQTUwQzJCRDM0MTFCQTgwQjEwQjZEQjczQzM1MSJ9.2E9uaZeKpevtZ0xSbltn5ui2xAFbxpg98gzXMrfMXsg
No further details yet.
China Dials Up US Trade Tension With Tit-for-Tat Metals Ban
China ratcheted up trade tensions with the US with a ban on several materials with high-tech and military applications, in a tit-for-tat move after President Joe Biden’s government escalated technology curbs on Beijing.
Gallium, germanium, antimony and superhard materials are no longer allowed to be shipped to America, the Ministry of Commerce said in a statement Tuesday. Beijing will also place tighter controls on sales of graphite, it added.
The move came after the White House on Monday slapped fresh curbs on the sale of high-bandwidth memory chips made by US and foreign companies to China. The Biden administration’s goal, building on years of evolving trade restrictions, is to slow China’s development of advanced semiconductors and artificial intelligence systems that may help its military.
President Xi Jinping’s government initially placed gallium and germanium under stricter government oversight last year, in a move that sent prices spiking and upended trade flows. There were zero reported exports of the metals to the US this year, which suggests that American industries were instead drawing on inventories or procuring the metal from other sources.
https://www.bloomberg.com/news/articles/2024-12-03/china-bans-germanium-gallium-exports-to-us-in-tit-for-tat-move?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTczMzIzMzg4OCwiZXhwIjoxNzMzODM4Njg4LCJhcnRpY2xlSWQiOiJTTldTNUVEV0xVNjgwMCIsImJjb25uZWN0SWQiOiJDNjgyQTUwQzJCRDM0MTFCQTgwQjEwQjZEQjczQzM1MSJ9.-W8b6nS-Xu40oHhVjTZfHApZ9YSzqPzKAZq9dTz38tQ
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