TODAYINPERSONAL JOURNAL …online.wsj.com/public/resources/documents/PageOne051314.pdfCHANDIGARH,...
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YELLOW ****** TUESDAY, MAY 13, 2014 ~ VOL. CCLXIII NO. 111 WSJ.com HHHH $2.00 DJIA 16695.47 À 112.13 0.7% NASDAQ 4143.86 À 1.8% NIKKEI 14149.52 g 0.4% STOXX 600 340.96 À 0.7% 10-YR. TREAS. g 10/32 , yield 2.657% OIL $100.59 À $0.60 GOLD $1,295.60 À $8.30 EURO $1.3757 YEN 102.12 TODAY IN PERSONAL JOURNAL Big Data in the Doctor’s Office PLUS The Price of Youth Sports Getty Images CONTENTS CFO Journal.................. B4 Corp. News................ B2-3 Global Finance ............. C3 Health & WellnessD1-4 Heard on Street ....... C10 In the Markets.............C4 Leisure & Arts ............. D5 Opinion.................... A13-15 Sports................................D6 Technology..................... B5 U.S. News...................A2-5 Weather Watch.......... B6 World News............A7-11 s Copyright 2014 Dow Jones & Company. All Rights Reserved > What’s News i i i World-Wide n Separatist leaders in Ukraine’s Donetsk region for- mally asked to become part of Russia, advancing the threat of Ukraine’s breakup. A1 n Nigerian rebels released a video that purportedly shows kidnapped schoolgirls and demands that impris- oned militants be freed. A7 n Six rapidly melting glaciers in Antarctica are destabilizing the ice sheet, threatening to raise sea levels significantly. A2 n The Taliban launched deadly attacks across Afghani- stan, marking the start of their spring fighting season. A10 n Optimism has grown that a nuclear deal with Iran can be reached by a July 20 deadline as talks are set to resume. A10 n A Washington state insurer plans to cut premiums in 2015, the first apparent decrease un- der the health-care law. A4 n Over a quarter of the world’s population believes stereotypes about Jews, a poll of anti-Semitism found. A8 n A boat with migrants from Africa sank off the coast of the Italian island of Lampedusa, leaving at least 14 dead. A8 n Fighting raged between South Sudan and rebel forces despite a cease-fire accord. A7 n Lithuania’s president faces a runoff after failing to collect 50% of the votes. A8 n Chinese police detained over 50 people after protests over a planned waste plant. A8 n Died: Lorenzo Zambrano, 70, CEO of Mexico’s Cemex. B3 i i i T he Justice Department is expected to reach settle- ments soon with banks that include Credit Suisse, Bank of America and Citigroup. A1 n AT&T is close to sealing a cash-and-stock takeover of DirecTV that could put a value of nearly $50 billion on the satellite-TV provider. B1 n The Dow and S&P 500 both set records as investors snapped up beaten-down shares. The blue chips climbed 112.13 to 16695.47. C1 n The Wyly brothers com- mitted civil fraud by using a web of offshore trusts to hide stock sales, a jury found. C1 n Hillshire agreed to buy Pinnacle Foods, a maker of sausages, hot dogs and frozen desserts, for $4.3 billion. B2 n Allergan rejected Valeant’s $46 billion takeover bid, say- ing the offer substantially un- dervalues the Botox maker. B3 n Comcast signed a deal with Turner to add full seasons of several TV shows to the cable firm’s on-demand offerings. B3 n Chrysler swung to a $690 million loss related to a debt payment and charge stemming from its purchase by Fiat. B5 n Pfizer laid out its case for a takeover of AstraZeneca in documents sent to two U.K. parliamentary committees. B3 n Prosecutors asked a judge for a stiff sentence of over five years for an ex-SAC employee convicted of insider trading. C3 n Citizens filed for an IPO as its parent, RBS, faces continu- ing U.K. regulatory pressure. C3 Business & Finance Jihad Abdo, You Can Call Him Jay, Looks for a Hollywood Ending i i i A Star Who Fled His Native Syria Counts on a Name Change and Lots of Luck LOS ANGELES—Long before he got to Hollywood in 2012, Ji- had Abdo was already a bankable star. Over a 30-year career, he had been featured in hundreds of TV ep- isodes, 43 movies and 21 plays set in modern and an- cient times, in roles as varied as villain, military of- ficer and prince. He couldn’t walk the streets in his hometown without being hounded by fans pleading for a picture with him. “Going shop- ping was a nightmare,” he recalls. But all that fame and fortune came his way in Syria, far from the Hollywood spotlight. When he arrived here, as a refugee from his war-torn homeland, Ji- had became “Jay” and turned into something very familiar here: an out-of-work actor. The closest he came to celebrity was his job with French Florist, the self-styled “Los Angeles flower delivery choice for the entertainment industry and stars.” Then, in an only- in-the-movies twist of fate, opportuni- ties to act in mov- ies starring Nicole Kidman and Tom Hanks came knock- ing. So, maybe he is on his way to stardom in his ad- opted country, too. “I’m a natural optimist,” says the 51-year-old actor, smiling broadly. “I knew the day would come when I would get my Please turn to page A6 BY MIRIAM JORDAN AND ERICH SCHWARTZEL Jay Abdo The head of the International Monetary Fund on Monday joined an elite group—those whose plans to give commence- ment addresses this graduation season were derailed by student or faculty protests. Christine Lagarde, managing director of the IMF, was sched- uled to speak this coming Sun- day at Smith College, but she withdrew her name after nearly 500 people signed a petition ob- jecting to the policies of the IMF. Similar outcries foiled speaking engagements by former National Security Adviser Condoleezza Rice at Rutgers University and human-rights activist Ayaan Hirsi Ali at Brandeis University, among several others. “I call it disinvitation season,” said Greg Lukianoff, president of Please turn to the next page BY DOUGLAS BELKIN List Grows Of Canceled Graduation Speakers BADAL & SON Family Ties Rule India Despite Voter Frustration CHANDIGARH, India—Chief Minister Parkash Singh Badal runs the northern Indian state of Punjab from his office in the secretariat building. His son, a wealthy businessman, works next door as deputy chief minister. A few floors away, the deputy’s two brothers-in- law run key ministerial offices. Together, the four men sit atop half of Punjab’s governmental depart- ments, including home affairs, justice, taxation and food supply. Politics in Punjab, a relatively affluent, agrarian state of 28 million, is largely a family-run operation, which isn’t uncommon in a country governed for de- cades by the Indian National Congress, the party of the Nehru-Gandhi clan. But frustration with family politics has surfaced in India’s national elections, which end with the an- nouncement of results Friday. Political analysts and voters say this frustration is an important reason why prime-minister candidate Narendra Modi—a critic of dynastic politics who said he gave up family life for public service—is the front-runner. He was leading in exit polls Monday. The father, grand- mother and great-grandfather of his opponent, Rahul Gandhi, all served terms as prime minister in India’s postcolonial era. While the U.S. has its own dynastic family names—Kennedy, Bush and Clinton—none match the depth of India’s family ties. A British historian in a Please turn to page A6 BY NIHARIKA MANDHANA Poll Gauges Religious Intolerance HOW DIFFERENT RELIGIOUS GROUPS ARE VIEWED 15 62 14 53 24% 47% 18 45 Christians Buddhists Muslims Hindus Jews 21 38 Source: First International Resources survey commissioned by the Anti-Defamation League The Wall Street Journal UNFAVORABLY FAVORABLY GLOBAL VIEW: About a quarter of the world’s population agrees that a number of negative statements about Jews are ‘probably true,’ according to a poll to be released today aimed at providing a statistical underpinning to the question of how widespread anti-Semitism is globally. A8 Separatist leaders in Ukraine’s volatile Donetsk region formally asked to become part of Russia on Monday, going beyond the simple independence question raised in a referendum and advancing the threat of Ukraine’s breakup. The declaration bore some re- semblance to the referendum and annexation scenario that played out in Crimea earlier this year, but signs of a different ap- proach by Russia began to emerge. Though the Kremlin expressed “respect” for the weekend refer- endums in Donetsk and the neigh- boring Luhansk region, the rebels’ subsequent request to join Russia was met with silence from the Kremlin and received little cover- age by Russian state television. Moscow had called last week for a postponement of the refer- endums, which organizers said expressed the regions’ over- whelming popular will for inde- pendence. But on Monday the Kremlin urged the new pro-Eu- rope government in Kiev to hold talks with the rebels on imple- menting the votes’ outcome, even as both sides rejected calls to negotiate. The U.S. denounced the refer- endums and blamed Russian President Vladimir Putin for re- fusing to use Russia’s influence to thwart them. White House spokesman Jay Carney suggested the weekend’s events augured poorly for Ukraine’s presidential elections scheduled for May 25. “If there are efforts to disrupt the elections and Russia is re- sponsible for those efforts or re- sponsible for failing to use its in- fluence to prevent those efforts,” said Mr. Carney, “that will be Please turn to page A8 By Paul Sonne in Moscow and Philip Shishkin in Donetsk, Ukraine Separatists Ask to Join Russia Annexation Request Follows Referendum on Independence in Eastern Ukraine WASHINGTON—The Justice De- partment’s effort to secure a guilty plea from Credit Suisse Group AG in coming days is expected to kick off a number of multibillion-dollar bank settlements, in what may be Attorney General Eric Holder’s last push to pursue Wall Street for past conduct. While such cases have moved at a slow pace for years, there has been a flurry of activity in recent days, suggesting a quick- ening tempo among the prosecu- tors investigating major financial institutions. Justice Department officials met with Bank of America Corp. last Thursday in a bid to hammer out a multibillion-dollar settle- ment related to the bank’s han- dling of mortgage-backed securi- ties in the run-up to the 2008 financial crisis, according to peo- ple familiar with the meeting. Later this month, Citigroup Inc. will meet with department law- yers to discuss a settlement stemming from an investigation into mortgage-backed securities that racked up large losses. Mr. Holder earlier this month listened to entreaties from Euro- pean government officials weigh- ing in on behalf of their home- country banks, according to people familiar with the discus- sions. On May 2, the attorney general met with a minister from Switzerland to talk about the case against Credit Suisse for al- legedly helping wealthy Ameri- cans evade taxes. Later that same day, he took a call from France’s Please turn to the next page BY DEVLIN BARRETT Holder Makes Last Run At Banks Nigerian Terrorists Parade Kidnapped Girls in Propaganda Video HOSTAGES: Boko Haram released a video it said shows captive girls—an unverified claim—and demanded release of imprisoned members of their group. A7 Agence France-Presse/Getty Images C M Y K Composite Composite MAGENTA CYAN BLACK P2JW133000-6-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,WE BG,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 P2JW133000-6-A00100-1--------XA
Transcript of TODAYINPERSONAL JOURNAL …online.wsj.com/public/resources/documents/PageOne051314.pdfCHANDIGARH,...
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TODAY IN PERSONAL JOURNAL
Big Data in the Doctor’s OfficePLUS The Price of Youth Sports
Getty
Images
CONTENTSCFO Journal..................B4Corp. News................B2-3Global Finance.............C3Health & WellnessD1-4Heard on Street.......C10In the Markets.............C4
Leisure & Arts.............D5Opinion....................A13-15Sports................................D6Technology.....................B5U.S. News...................A2-5Weather Watch..........B6World News............A7-11
s Copyright 2014 Dow Jones & Company.All Rights Reserved
>
What’sNews
i i i
World-Widen Separatist leaders inUkraine’s Donetsk region for-mally asked to become part ofRussia, advancing the threatof Ukraine’s breakup. A1n Nigerian rebels releaseda video that purportedlyshows kidnapped schoolgirlsand demands that impris-oned militants be freed. A7nSix rapidlymelting glaciersin Antarctica are destabilizingthe ice sheet, threatening toraise sea levels significantly. A2nThe Taliban launcheddeadly attacks across Afghani-stan, marking the start of theirspring fighting season. A10nOptimism has grown that anuclear deal with Iran can bereached by a July 20 deadlineas talks are set to resume. A10nAWashington state insurerplans to cut premiums in 2015,the first apparent decrease un-der the health-care law. A4nOver a quarter of theworld’s population believesstereotypes about Jews, a pollof anti-Semitism found. A8nA boat with migrants fromAfrica sank off the coast of theItalian island of Lampedusa,leaving at least 14 dead. A8n Fighting raged betweenSouth Sudan and rebel forcesdespite a cease-fire accord. A7n Lithuania’s president facesa runoff after failing to collect50% of the votes. A8nChinese police detainedover 50 people after protestsover a plannedwaste plant. A8nDied: Lorenzo Zambrano,70, CEO of Mexico’s Cemex. B3
i i i
The Justice Department isexpected to reach settle-
ments soon with banks thatinclude Credit Suisse, Bank ofAmerica and Citigroup. A1n AT&T is close to sealing acash-and-stock takeover ofDirecTV that could put avalue of nearly $50 billion onthe satellite-TV provider. B1n The Dow and S&P 500both set records as investorssnapped up beaten-downshares. The blue chipsclimbed 112.13 to 16695.47. C1n TheWyly brothers com-mitted civil fraud by using aweb of offshore trusts to hidestock sales, a jury found. C1nHillshire agreed to buyPinnacle Foods, a maker ofsausages, hot dogs and frozendesserts, for $4.3 billion. B2nAllergan rejected Valeant’s$46 billion takeover bid, say-ing the offer substantially un-dervalues the Botox maker. B3nComcast signed a deal withTurner to add full seasons ofseveral TV shows to the cablefirm’s on-demand offerings. B3nChrysler swung to a $690million loss related to a debtpayment and charge stemmingfrom its purchase by Fiat. B5n Pfizer laid out its case for atakeover of AstraZeneca indocuments sent to two U.K.parliamentary committees. B3nProsecutors asked a judgefor a stiff sentence of over fiveyears for an ex-SAC employeeconvicted of insider trading. C3nCitizens filed for an IPO asits parent, RBS, faces continu-ing U.K. regulatory pressure. C3
Business&Finance
Jihad Abdo, You Can Call Him Jay,Looks for a Hollywood Ending
i i i
A Star Who Fled His Native SyriaCounts on a Name Change and Lots of Luck
LOS ANGELES—Long beforehe got to Hollywood in 2012, Ji-had Abdo was already a bankablestar.
Over a 30-year career, he hadbeen featured inhundreds of TV ep-isodes, 43 moviesand 21 plays set inmodern and an-cient times, inroles as varied asvillain, military of-ficer and prince.He couldn’t walkthe streets in hishometown withoutbeing hounded byfans pleading for apicture with him. “Going shop-ping was a nightmare,” he recalls.
But all that fame and fortunecame his way in Syria, far fromthe Hollywood spotlight. When
he arrived here, as a refugeefrom his war-torn homeland, Ji-had became “Jay” and turnedinto something very familiarhere: an out-of-work actor. Theclosest he came to celebrity washis job with French Florist, theself-styled “Los Angeles flower
delivery choice forthe entertainmentindustry and stars.”
Then, in an only-in-the-movies twistof fate, opportuni-ties to act in mov-ies starring NicoleKidman and TomHanks came knock-ing. So, maybe heis on his way tostardom in his ad-opted country, too.
“I’m a natural optimist,” saysthe 51-year-old actor, smilingbroadly. “I knew the day wouldcome when I would get my
PleaseturntopageA6
BY MIRIAM JORDANAND ERICH SCHWARTZEL
Jay Abdo
The head of the InternationalMonetary Fund on Mondayjoined an elite group—thosewhose plans to give commence-ment addresses this graduationseason were derailed by studentor faculty protests.
Christine Lagarde, managingdirector of the IMF, was sched-uled to speak this coming Sun-day at Smith College, but shewithdrew her name after nearly500 people signed a petition ob-jecting to the policies of the IMF.Similar outcries foiled speakingengagements by former NationalSecurity Adviser CondoleezzaRice at Rutgers University andhuman-rights activist AyaanHirsi Ali at Brandeis University,among several others.
“I call it disinvitation season,”said Greg Lukianoff, president of
Pleaseturntothenextpage
BY DOUGLAS BELKIN
List GrowsOf CanceledGraduationSpeakers
BADAL & SON
Family Ties Rule IndiaDespite Voter Frustration
CHANDIGARH, India—Chief Minister ParkashSingh Badal runs the northern Indian state of Punjabfrom his office in the secretariat building. His son, awealthy businessman, works next door as deputychief minister.
A few floors away, the deputy’s two brothers-in-law run key ministerial offices. Together, the fourmen sit atop half of Punjab’s governmental depart-ments, including home affairs, justice, taxation andfood supply.
Politics in Punjab, a relatively affluent, agrarianstate of 28 million, is largely a family-run operation,which isn’t uncommon in a country governed for de-cades by the Indian National Congress, the party of
the Nehru-Gandhi clan.But frustration with family politics has surfaced
in India’s national elections, which end with the an-nouncement of results Friday. Political analysts andvoters say this frustration is an important reasonwhy prime-minister candidate Narendra Modi—acritic of dynastic politics who said he gave up familylife for public service—is the front-runner. He wasleading in exit polls Monday. The father, grand-mother and great-grandfather of his opponent, RahulGandhi, all served terms as prime minister in India’spostcolonial era.
While the U.S. has its own dynastic familynames—Kennedy, Bush and Clinton—none match thedepth of India’s family ties. A British historian in a
PleaseturntopageA6
BY NIHARIKA MANDHANA
Poll Gauges Religious IntoleranceHOW DIFFERENT RELIGIOUS GROUPS ARE VIEWED
15 62
14 53
24% 47%
18 45
Christians
Buddhists
Muslims
Hindus
Jews21 38
Source: First International Resources survey commissioned by the Anti-Defamation LeagueThe Wall Street Journal
UNFAVORABLY FAVORABLY
GLOBAL VIEW: About a quarter of the world’s population agrees that anumber of negative statements about Jews are ‘probably true,’ accordingto a poll to be released today aimed at providing a statistical underpinningto the question of how widespread anti-Semitism is globally. A8
Separatist leaders in Ukraine’svolatile Donetsk region formallyasked to become part of Russia onMonday, going beyond the simpleindependence question raised in areferendum and advancing thethreat of Ukraine’s breakup.
The declaration bore some re-semblance to the referendumand annexation scenario thatplayed out in Crimea earlier thisyear, but signs of a different ap-proach by Russia began toemerge.
Though the Kremlin expressed“respect” for the weekend refer-endums in Donetsk and the neigh-boring Luhansk region, the rebels’subsequent request to join Russiawas met with silence from theKremlin and received little cover-age by Russian state television.
Moscow had called last weekfor a postponement of the refer-endums, which organizers saidexpressed the regions’ over-whelming popular will for inde-pendence. But on Monday theKremlin urged the new pro-Eu-rope government in Kiev to holdtalks with the rebels on imple-menting the votes’ outcome,even as both sides rejected callsto negotiate.
The U.S. denounced the refer-endums and blamed Russian
President Vladimir Putin for re-fusing to use Russia’s influenceto thwart them. White Housespokesman Jay Carney suggestedthe weekend’s events auguredpoorly for Ukraine’s presidentialelections scheduled for May 25.
“If there are efforts to disruptthe elections and Russia is re-sponsible for those efforts or re-sponsible for failing to use its in-fluence to prevent those efforts,”said Mr. Carney, “that will be
PleaseturntopageA8
By Paul Sonnein Moscow
and Philip Shishkinin Donetsk, Ukraine
Separatists Ask to Join RussiaAnnexation Request Follows Referendum on Independence in Eastern Ukraine
WASHINGTON—The JusticeDe-partment’s effort to secure a guiltyplea from Credit Suisse Group AGin coming days is expected to kickoff a number ofmultibillion-dollarbank settlements, in what may beAttorney General Eric Holder’s lastpush to pursueWall Street for pastconduct.
While such cases have movedat a slow pace for years, therehas been a flurry of activity inrecent days, suggesting a quick-ening tempo among the prosecu-tors investigating major financialinstitutions.
Justice Department officialsmet with Bank of America Corp.last Thursday in a bid to hammerout a multibillion-dollar settle-ment related to the bank’s han-dling of mortgage-backed securi-ties in the run-up to the 2008financial crisis, according to peo-ple familiar with the meeting.Later this month, Citigroup Inc.will meet with department law-yers to discuss a settlementstemming from an investigationinto mortgage-backed securitiesthat racked up large losses.
Mr. Holder earlier this monthlistened to entreaties from Euro-pean government officials weigh-ing in on behalf of their home-country banks, according topeople familiar with the discus-sions. On May 2, the attorneygeneral met with a minister fromSwitzerland to talk about thecase against Credit Suisse for al-legedly helping wealthy Ameri-cans evade taxes. Later that sameday, he took a call from France’s
Pleaseturntothenextpage
BY DEVLIN BARRETT
HolderMakesLastRunAtBanks
Nigerian Terrorists Parade Kidnapped Girls in Propaganda Video
HOSTAGES: Boko Haram released a video it said shows captive girls—an unverified claim—and demanded release of imprisoned members of their group. A7
AgenceFrance-Presse/Getty
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CM Y K CompositeCompositeMAGENTA CYAN BLACK
P2JW133000-6-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
P2JW133000-6-A00100-1--------XA
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