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NATION/WORLD
East Oregonian
Hurricane Matthew may cost $10 billion
BRIEFLY
ST. PAUL, Minn. (AP)
— Minnesota’s Democratic
governor said Wednesday
that the Affordable Care Act
is “no longer affordable” for
many, a stinging critique from
a state leader who strongly
embraced the law and proudly
proclaimed health reform was
working in Minnesota just a
few years ago.
6
PBS ABC NBC CBS FOX
STATION
CoreLogic, a real estate data provider.
But the igures suggest Matthew’s
effect on the broader national economy
will be minimal. Though damage
estimates are usually revised higher
after more comprehensive assessments,
the current igures would still make
Matthew the 22nd-worst storm since
World War II, Goldman estimates.
AM
6:30
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By comparison, Hurricane Sandy,
the second-worst storm, caused $15
billion to $20 billion in insured losses
and $50 billion to $60 billion in overall
damage in 2012.
Any economic losses pale in light
of the 34 lives lost in the United States.
Matthew also killed more than 500
people in impoverished Haiti.
October 13, 2016
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BEIRUT (AP) — For
more than a month, insurgents
ighting President Bashar
Assad’s forces had been
on the march in central
Syria, getting within a few
miles of the fourth-largest
city of Hama. Many in the
opposition hoped they would
cut a main government supply
line to Aleppo and ease the
pressure on the rebels there.
But the ambitious
campaign has been severely
hampered by the rebels
themselves, mostly due to
inighting that broke out last
week.
It’s a recurring theme of
opposition discord and rivalry
that Assad has exploited
throughout Syria’s 5-year-old
civil war.
The ive-week offensive,
which saw insurgents break
government defenses and
capture more than two
dozen villages and towns,
was spearheaded by the
Salai-jihadi extremist Jund
al-Aqsa group.
The advance so alarmed
Syria’s army command that
it eventually rushed one of
Assad’s most trusted and
prominent oficers, Col.
Suheil al-Hassan, and his elite
unit to defend the strategic
region.
AP Photo/Chuck Burton
Floodwaters from Hurricane Matthew covers parts of Interstate 95 and
homes and businesses in Lumberton, N.C., Wednesday.
Thursday Morning
NBC
Democrat Dayton:
Health law ‘no
longer affordable’
for many
Rebel advances in
central Syria set
back by inighting
(AP) — For a storm that inlicted less
damage than many had feared, Hurri-
cane Matthew nevertheless impaired or
destroyed more than 1 million structures,
forced businesses from Florida to North
Carolina to close and put thousands
temporarily out of work.
In many affected areas, small-busi-
ness owners were still assessing the
damage.
“I’ve never had anything like this
in 12 years of business,” said Ami
Zipperer, who has two garden supply
stores in the Savannah, Georgia, area.
Zipperer said she doesn’t know how
much she’s lost or what insurance will
cover. She said about 10 percent of
her inventory of plants was damaged,
but the bigger challenge will come
from losing $5,000 to $7,000 a day
in revenue. One store is still closed
and many homeowners in the area,
Zipperer said, aren’t focused right now
on landscaping.
All told, the storm probably caused
$10 billion in damage, according to an
estimate from Goldman Sachs. Insur-
ance companies will likely be liable for
about $4 billion to $6 billion of that total,
according to an estimate Saturday by
KNDU
6
KGW
8
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ABC
NEW YORK (AP) —
Wells Fargo’s embattled
CEO John Stumpf is
stepping down as the
nation’s second-largest bank
is roiled by a scandal over its
sales practices.
The San Francisco
bank said Wednesday that
Stumpf is retiring effective
immediately and also
relinquishing his title as
chairman. It had earlier
announced that Stumpf, the
bank’s CEO since 2007, will
forfeit $41 million in stock
awards.
Wells Fargo’s chief
operating oficer, Tim Sloan,
will succeed Stumpf as CEO.
Stephen Sanger, the bank’s
lead director, will serve as
the board’s non-executive
chairman.
Stumpf faced
congressional hearings and
consumer wrath last month
after Wells Fargo was found
to have opened millions of
unauthorized bank accounts.
Wells Fargo & Co. had
been well-known in the
banking industry for its
ability to sell customers
multiple products, such as
a new account, a mortgage,
a retirement account,
or even online banking.
The company has agreed
to pay $185 million to
settle allegations that its
workers opened millions of
accounts without customers’
permission to reach
aggressive sales targets.
Stumpf, a 34-year
veteran of the bank, had
previously gained acclaim
for navigating Wells Fargo
through the inancial crisis
and keeping it free of
scandal. But he came under
withering pressure over the
alleged misconduct, believed
to have gone on at the bank
for years. Some 5,300
lower-level employees were
ired.
Gov. Mark Dayton
made the comments while
addressing questions about
Minnesota’s fragile health
insurance market, where
individual plans are facing
double-digit increases after all
insurers threatened to exit the
market entirely in 2017. He’s
the only Democratic governor
to publicly suggest the law
isn’t working as intended.
Dayton’s comments
follow former President Bill
Clinton’s saying last week
that the law was “the craziest
thing in the world” before he
backtracked.
“The reality is the Afford-
able Care Act is no longer
affordable for increasing
numbers of people,” Dayton
said, calling on Congress to
ix the law to address rising
costs and market stability.
The Democratic-driven
criticism has emboldened
Republicans in Minnesota
and nationwide to try to scrap
President Barack Obama’s
2010 law. Clinton faced
backlash for the comments he
made during a Michigan rally
for his wife last week, and he
later clariied his support for
the law and called for ixes to
address gaps in coverage.
KVEW
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Wells Fargo CEO
John Stumpf steps
down amid sales
scandal
Thursday, October 13, 2016
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Behind Bars: Rookie :05 The First 48
60 Days In "Sewer
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"Building the Case" (N)
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< Halloween A mentally unstable killer escapes <
60 Revenge of Michael... mental asylum and returns home to find his baby sister.
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NHRA Drag Racing -- Reading, Pa.
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Diabetes Education ..................... 541-278-3239
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