Tribune News Service
Business Budget for Monday, November 5, 2018
Updated at 2 p.m. EST (1900 UTC)
Adds LOWES-CLOSINGS:CH, TRADE-JAPAN-KOREA:BLO, FARM-DICAMBA:SL, REAL-HOTELGLUT:SE
This budget is now available at TribuneNewsService.com, with direct links to stories and art. See details at the end of the budget.
^As U.S. limits refugees, some Chicago employers fear losing a good talent pool<
^WRK-REFUGEES-WORKFORCE:TB—<In early October, President Donald Trump signed an executive order dropping the ceiling on refugee admissions to a record low of 30,000 for the year that started Oct. 1. His administration had set the past year's ceiling at 45,000, at the time a historic low, which was down from a cap of 110,000 that President Barack Obama set just before he left office.
The reduced cap, as 68.5 million people worldwide are being displaced from their homes, has been widely criticized on humanitarian grounds, but groups that help businesses hire refugees worry that it could also disrupt a recruitment tool that many companies have come to rely upon for good talent.
1750 (with trims) by Alexia Elejalde-Ruiz in Chicago. MOVED
^'Neurodiversity' movement promotes rights, hiring for people with ADHD, dyslexia, on autism spectrum<
^NEURODIVERSITY:BZ—<The neurodiversity movement attempts to address historically low unemployment rates among people with attention deficit hyperactivity disorder or dyslexia, or on the autism spectrum by encouraging employers to see the skills and abilities of people with neurological differences, such as advanced technical ability, a capacity to understand and dissect complex patterns, and tremendous problem-solving stamina.
The term "neurodiversity" is intended to emphasize difference in functioning as normal and natural variations in the human condition.
900 by Yvonne Wenger. MOVED
^As EPA renews approval for dicamba, questions about the weedkiller remain<
^FARM-DICAMBA:SL—<The first step in solving any problem is knowing if one exists.
That question remains a matter of fierce debate when it comes to dicamba — a weedkiller that has ignited controversy on farms spanning the country's interior as it skyrockets to newfound popularity in the fight against Roundup-resistant "superweeds." The debate is sure to rage on, as last week the Environmental Protection Agency extended approval of the technology through 2020, with certain new guidelines and restrictions in place.
1700 by Bryce Gray. MOVED
^As Seattle area keeps building hotels, there soon may be too much room at the inn<
REAL-HOTELGLUT:SE — When it officially opens in December, the Hyatt Regency at Eighth Avenue and Howell Street will be both the largest hotel in Washington state and among the most closely watched.
With its 1,260 rooms, spacious conference facilities, and proximity to the planned expansion of the Washington State Convention Center, the Hyatt is key to Seattle's ambitions to play in the big leagues of the convention business and bid for massive corporate events that only a handful of American cities can currently handle.
But the enormous property is opening just as the Seattle area's hotel market — currently one of the hottest in the country — is cooling under a crowd of new entrants. No one is forecasting a repeat of the Great Recession, but it's also clear that supply is finally catching up to that demand.
1600 by Paul Roberts in Seattle. MOVED
^MORE BUSINESS NEWS<
^Startup Blue Forest secures funding for first privately financed forest-fire bond<
^CALIF-FOREST-BOND:LA—<In a remote corner of the Sierra Nevada, a financial experiment is about to begin.
Once this winter's snow melts, workers will cut down small trees and burn undergrowth across 5,000 acres of the Tahoe National Forest. But those workers won't be paid by the U.S. Forest Service or any other public agency that typically funds forestry projects.
Instead, the roughly $4 million will come from two foundations, an investment firm and an insurance company — which hope to make money on the deal.
1150 (with trim) by James Rufus Koren. MOVED
^Central Florida looks to score big with esports <
^FLA-ESPORTS:OS—<Jason Siegel doesn't have to look beyond his own house to find fans excited about competitive video gaming and esports.
"If I went home and said, 'We're going to a Fortnite festival,' it would the most exciting Christmas gift we could give to our two boys," Siegel said of his 8- and 10-year-old sons. "It's been impressive to watch."
The enthusiasm that surrounds a virtual world that includes monthly Fortnite tournaments — some with as many as hundreds of thousands of online viewers — has created a buzz that some in Central Florida say could soon create an economic windfall for the region.
800 (with trim) by Marco Santana. MOVED
^Craft brewers say geography may be the biggest obstacle to growth <
^CRAFT-BREWING:VP—<In 2015, 86 percent of craft beer drinkers were white, according to a Harris Poll cited by the Brewers Association. By 2018, the percentage had dropped, but only by a half a point. Most are millennials and those earning more than $75,000 a year.
Those figures aren't inherently bad news for any industry. As far as age goes, as the report points out, younger millennials will reach drinking age and the older ones will, ideally, begin earning more money.
But there's a whole world of people out there who might be craft beer customers too.
1450 by Kimberly Pierceall and Robyn Sidersky . MOVED
^Lowe's to close dozens of underperforming stores across the US and Canada<
^LOWES-CLOSINGS:CH—<Lowe's is closing 51 underperforming stores across the U.S. and Canada.
The Mooresville-based home improvement retailer announced early Monday that it will shut down 20 stores in the U.S. and 31 in Canada in an effort to "focus on its most profitable stores and improve the overall health of its store portfolio."
700 (with trims) by Katherine Peralta. MOVED
^South Korea must find fix to WWII labor case, Japan's Kono says<
TRADE-JAPAN-KOREA:BLO — Japan's top diplomat says it is up to South Korea to resolve forced labor claims looming over dozens of Japanese companies that are threatening to upend ties between the two neighbors.
Foreign Minister Taro Kono said in an interview Sunday that the South Korean Supreme Court's decision last week ordering a Japanese company to pay compensation to people forced into its service during Japan's 1910-45 occupation of the country posed a "serious challenge" to relations. Japan holds that such claims were settled under a 1965 treaty, which came with a $300 million payment.
600 by Isabel Reynolds in Tokyo. MOVED
^Health savings account: a stealth retirement savings vehicle<
^PFP-HEALTH-SAVINGS-ACCOUNTS:PH—<We're been hearing a lot about health savings accounts a sort of stealth retirement savings vehicle from which investors can withdraw money tax-free for medical expenses.
HSAs are worth a look, although they're not for everyone.
500 by Erin Arvedlund. MOVED
^DAILY MARKETS GRAPHIC <
Find here a daily Wall Street roundup graphic featuring Dow Jones Industrial Average, S&P 500 and Nasdaq data.
The 1-column x 4-inch graphic, Wall Street, will be posted by 6:30 p.m. EDT Monday through Friday.
To find the graphic, visit the Graphics section of TribuneNewsService.com.
Those with questions regarding the graphic should contact the graphics team at 312-222-4131 or email@example.com.
These features regularly move on Monday:
^Consumer Confidential: Pfizer's 'business as normal' vow: More price increases?<
^CNS-CONFIDENTIAL:LA—<"Business as normal."
With those three words, the chief executive of pharmaceutical giant Pfizer declared last week that his company, and by extension the drug industry, is dropping any pretense of being open to price cuts and will continue gouging sick people as much as they can.
1000 by David Lazarus. MOVED
^Kendall Little: What to buy in November, from Black Friday doorbusters to holiday toys<
^PFP-BANKRATE-SHOPPING:MCT—<Competitive shoppers and casual consumers alike know November is the Super Bowl of spending. The holiday shopping season has begun and the discounts are plentiful.
According to a recent survey by Natural Insight, 47 percent of Americans plan to do their holiday shopping before December — which means you'll want to head out early to snag the hottest items before they sell out.
1100 by Kendall Little. MOVED
^Susan Tompor: You might need to plan for a smaller tax refund in 2019<
^PFP-TOMPOR-COLUMN:DE—<Stop, before splurging on holiday gifts this year, and ask yourself if you're going to get a far bigger tax bill than you expect next year.
Or if you get a tax refund, is it likely to be smaller? Millions of Americans won't get their usual tax refunds next year.
700 by Susan Tompor. MOVED
^The Journey: Decisions due soon in Medicare open enrollment<
^PFP-JOURNEY:MCT—<Senior advocates routinely advise Medicare participants to scrutinize their options during the federal health care plan's open enrollment period, which runs through Dec. 15, but this year the warnings are taking on some added urgency.
While Medicare officials highlight reduced premiums among Medicare Advantage plans, a recent audit of the Centers for Medicare & Medicaid Services found "widespread and persistent performance problems related to the denial of care and payment," among the plans.
650 by Janet Kidd Stewart. MOVED
PFP-ONPHILANTHROPY:MCT by Bruce DeBoskey. Not moving this week.
^KIDS AND MONEY<
PFP-KIDSANDMONEY:MCT — by Steve Rosen. MOVED
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