Transcript
Page 1: TODAYINMANSION HomesBuilt toSurviveonline.wsj.com/public/resources/documents/page02212014.pdf · 2018. 8. 27. · bie and Neiman Marcus. B1 n Wal-Mart said it would boost spending

YELLOW

* * * * * * FRIDAY, FEBRUARY 21, 2014 ~ VOL. CCLXIII NO. 42 WSJ.com HHHH $2 .00

DJIA 16133.23 À 92.67 0.6% NASDAQ 4267.55 À 0.7% NIKKEI 14449.18 g 2.1% STOXX600 334.78 g 0.05% 10-YR. TREAS. g 7/32 , yield 2.754% OIL $102.92 g $0.39 GOLD $1,317.10 g $3.50 EURO $1.3719 YEN 102.28

TODAY IN MANSION

Homes Built to SurviveARENA Who Is Sochi’s Best Athlete?

CONTENTSBusiness Tech............ B4Corporate News B1-4,5Global Finance............ C3Heard on Street........ C8In the Markets........... C4Markets Dashboard C5

Movies...................... D6,10Music................................ D7Opinion.................. A13-15Sports.......................... D1-5U.S. News................. A2-7Weather Watch........ B6World News.......... A8-11

s Copyright 2014 Dow Jones & Company.All Rights Reserved

>

What’sNews

i i i

World-WidenDozens of protesters inUkraine died in pitched battles.The president, underWesternpressure for early elections,reached out toMoscow. A1, A8nObama’s 2015 budgetwillstrip out a GOP-favored SocialSecurity proposal and call for alarge expansion in spending oneducation and job training. A1nAntigovernment protestsin Venezuela escalated, withdemonstrators burning tiresand cars and security forcesfighting to gain control. A10n Iran andworld powers setgoals for the timeline of nu-clear talks. Tehran opposed aU.S. proposal to discuss caps onits ballistic-missile program.A9nA study of mental-healthprograms for the militaryfound little evidence theywork to prevent depression,PTSD and other conditions. A4n A Guantanamo prisonerpleaded guilty to war-crimescharges in a pretrial deal aimedat limiting his sentence. A4nNigeria’s president oustedthe country’s central bankchief, who has been outspokenabout alleged corruption. A10nTurkeymoved to broadenits intelligence services’ poweras it seeks to expand executivecontrol ahead of elections. A11nTemple University Hospitalis curbing the use of a gyneco-logical procedure amid con-cerns it could spread cancer. A3nFour people were killed in ashooting at an Indian tribalheadquarters in California. A7nNorth and South Koreansgathered in the first reunion offamilies in over three years. A11

i i i

Energy Futures is prepar-ing to file for bankruptcy

protection. The former TXUhas been hit by heavy debtand a bad bet on gas prices. B1n Facebook’s $19 billion dealfor startupWhatsApp showshow the social network is mor-phing into something resem-bling a holding company. A1, B1nU.S. stocks rose despitesomemixed economic news.The Dow gained 92.67 points to16133.23. The S&P 500 endednear its record at 1839.78.C4n Business Wire will end thepractice of giving high-speedtraders direct access to mar-ket-moving news releases. C1n Amazon is in talks forlistings of some well-knownretailers, including Abercrom-bie and Neiman Marcus. B1nWal-Mart said it wouldboost spending on the Inter-net and smaller stores amida drop in store traffic. B2n Engaged Capital nominatedfive candidates to Abercrom-bie’s board in a show of frus-tration with management. B3nU.S. consumer prices rose1.6% in January from 2013,the strongest year-over-yeargain in six months. A2nMortgage delinquenciesand the backlog of foreclosureinventory fell last quarter tothe lowest level since 2008. A2nH-P’s sales of computer serv-ers and PCs rose last quarter.Overall revenue eased 1% as netgrew 16% to beat forecasts. B4n Citigroup boosted CEOCorbat’s pay by about 23% to$14.1 million for 2013, hisfirst full year at the helm. C3

Business&Finance

WASHINGTON—President Ba-rack Obama’s 2015 budget willabandon overtures to Republi-cans and call for a large expan-sion in spending on educationand job training, in a push cer-tain to ratchet up tensions in thealready-fractured capital aheadof November’s elections.

The proposal—whichwill servemore as a political treatise than afiscal blueprint—won’t include acall to slow the growth of SocialSecurity spending by changing howthe program accounts for inflation,White House officials said Thurs-day. Such a change is favored bythe GOP and had been included inMr. Obama’s budget plan last year.

Instead, Mr. Obama’s budget,which will be released in fullearly next month, will propose$56 billion in new governmentspending on programs such aseducation, manufacturing andjob training, which would be off-set by spending cuts and tax in-creases on high-income earners.

Mr. Obama’s budget for the fis-cal year starting Oct. 1 is the lat-est in a number of steps he hastaken to reassert presidential au-thority, largely through executiveactions, and push his ideal policypositions as opposed to compro-mises. Senior White House offi-cials said the shift is a result ofRepublicans’ refusals to compro-mise in Congress with Mr. Obamadespite his repeated attempts towin them over with social eventsand GOP-favored policy positions.

Republicans dismissed theproposal.

“The one and only idea thePleaseturntopageA4

BY CAROL E. LEEAND DAMIAN PALETTA

ObamaBudgetSets UpBattle

KIEV, Ukraine—Ukraine sliddeeper into turmoil Thursday asdozens of protesters were killedamid pitched battles in the centerof the capital.

President Viktor Yanukovych,under heavy Western pressure tocall early elections, reached out toRussia as his grip on parts of thecountry appeared to weaken.

As sirens wailed through Kiev’snarrow streets, top European dip-lomats shuttled between Mr.

Yanukovych and opposition lead-ers late into the night, pushingfor fresh elections to pull thecountry back from the brink.

Ambulances ferried dead andwounded to hospitals after atruce that had been declaredWednesday night fell apart hourslater. At a makeshift medical cen-ter inside a cathedral, some twodozen doctors from across thecountry treated those they couldas a steady stream of cars deliv-ered medicine, food and othersupplies.

Medics working with the oppo-

sition said that most of the casu-alties were civilians, clad in mo-torcycle helmets and carryinghomemade shields fashioned fromwood and metal, apparently shotby snipers.

Several corpses, some coveredin sheets, others in Ukrainianflags, were laid out on Kiev’s mainstreet and in the lobby of a down-town hotel, which served as afirst-aid station and a morgue.

The death toll for the weekclimbed to 75, according to thegovernment; opposition represen-tatives put it at more than 100.

Both sides braced themselvesfor more fighting. On Kiev’s Inde-pendence Square, protesters but-tressed their defenses and theirchants against the presidentturned from “Get the criminalout” to “Death to the criminal.”

With both sides hardened bydays of bloodletting, the room forcompromise appeared to be nar-rowing perilously. Protesters ap-pear unlikely to accept anything

PleaseturntopageA8

BY ALAN CULLISONAND JAMES MARSON

Dozens Killed in UkraineAs Turmoil Deepens in Kiev

SUBALPUR, India—When the elders in thissmall Hindu farming village discovered last monththat a local woman intended to marry a Muslim,their reaction was swift and savage.

The village chief and 12 others dragged the 20-year-old woman to a shed and gang-raped her, thelocal police allege. She and her suitor were thentied to a tree overnight, witnesses say, and the vil-lage council fined them the next day.

Such rough justice is common across wideswaths of rural India, where local leaders often ig-nore the law to enforce traditional social normsthat run counter to more-liberal views now gain-ing ground in India’s cities.

More than a year after the December 2012 fatalgang rape of a student on a New Delhi bus, whichshocked India and drew global attention, the Sub-alpur case shows the limits of new legislation

aimed at protecting women in the face of deep cul-tural resistance.

The woman reported the gang rape to police.Her alleged attackers—their lawyer says they areinnocent—are in jail. Still, her family fears retalia-tion from villagers. “Her entire life has been ru-ined,” her mother says. “Maybe the best thing todo was to keep quiet.”

For hundreds of millions of women in India’simpoverished countryside, conservative local lead-ers and informal village councils have long dic-tated everything from whom they can marry towhat they can wear.

These informal councils, which are separatefrom state-sanctioned local governments, can’t le-gally rule on village disputes or other matters oflaw. But the penalties they illegally impose canrange from fines and ostracism to forced marriage,rape and death.

PleaseturntopageA12

BY PREETIKA RANA

‘BARBARIC, FEUDAL PRACTICES’

For Defying Village Rules,A Penalty of Rape

THEN AND NOW: Independence Square in Kiev in April 2009, left, and on Thursday as protesters inspected damage from recent clashes.

Sergei

Supinsky/A

genceFrance-Presse/Getty

Images;V

incent

Mun

dy/B

loom

berg

New

s

MOSCOW—The most endur-ing memory many Russians haveof the 1980 Summer Olympics inMoscow has nothing to do withinternational boycotts or thefact that the So-viet Union wonthe most medalsin Olympics his-tory that year. Aska Russian aboutMisha, and a nos-talgic tear mightcome to his eye.

The smiling,chubby cartoonbear known asMikhail PotapychToptygin, orMisha, was the official mascot ofthe 1980 Games and lives on to-day as a potent cultural icon inRussia. A standard image onsouvenir T-shirts and coffee

mugs, it was a masterstroke ofOlympics merchandising, mademore remarkable because of itsskillful execution by Leonid Bre-zhnev’s Soviet government.

With the Winter Games inSochi drawing to a close, loving

memories of Mishaare being stirredanew as Russiansfondly recall theindelible image ofa giant balloonversion of the bearfloating away fromthe 1980 closingceremony. But forthe man who cre-ated Misha, it is asore point.

“I hate to talkabout mascots,” says Viktor Chi-zhikov, a renowned children’sartist whose design was pickedin 1977 from more than 40,000submissions. “This is like a thorn

in my heel,” he says.Mr. Chizhikov’s bitterness

stems from his belief that thestate reneged on a promise togrant him the copyright to hisbear, which means he never sawa kopeck from the stuffed toysand porcelain dolls that weresold during the Games, nor fromcartoon programs that werelater produced. Now 78 yearsold, he still fumes every time hesees a Misha T-shirt.

“In the end they told me, ‘TheSoviet people were the cre-ators,’ ” he says. “I did 90% ofthe propaganda for those Olym-pics. This was the face of thecountry.”

But Olympics officials saythat the idea that Mr. Chizhikovwould have ended up with therights to the design is doubtfulat best.

“In accordance with thePleaseturntopageA12

BY LUKAS I. ALPERT

Russians Get Misty for Misha—Except for His Creatori i i

Not a Kopeck for Man Who Drew Beloved 1980 Olympic Mascot

Misha

No Miracle for U.S. Women’s Hockey

COLD WAR: Canadian players celebrate a stunning comeback over theirbitter rivals from the U.S., after evening the score with less than aminute left in regulation, then going on to win 3-2 in overtime. D3

LarryW.S

mith/Eu

ropean

Presspho

toAgency

Cathedral becomes a hospital;EU to sanction Ukraine............ A8

David

LauerforTh

eWallS

treetJournal

than differing approaches to mak-ing money. A legacy of his child-hood in Ukraine isMr. Koum’s em-phasis on privacy: WhatsAppdoesn’t collect any personal infor-mation other than amobile-phonenumber and address book, and itwipes out messages shortly afterthey’re sent.

Mr. Zuckerberg, by contrast, hasriled users by changing Facebook’sprivacy settings inways that somethought exposedmore of their per-sonal information more widely.

In his first interview since thedeal, Mr. Koum explained how thetwo men found common ground.“We have a sharedmission of con-necting the world,”Mr. Koum saidThursday. “Thewayhe thinks aboutit is the sameway I think about it.”

The deal illustrates how Face-book is morphing from a socialnetwork into something resem-

Pleaseturntothenextpage

Two years ago, Jan Koum,founder of mobile-messagingservice WhatsApp, decried onlineadvertising, saying it drives techcompanies to write “better codeto collect all your personal data.”

On Wednesday, Mr. Koumagreed to sell his company toFacebook Inc., which built theworld’s second-largest online ad-vertising platform after GoogleInc.’s by harvesting informationusers post on the social network.

How Mr. Koum and FacebookChief Executive Mark Zuckerbergnavigate that clash may deter-mine the success or failure of the$19 billion deal, the largest everfor a tech startup. WhatsApp willoperate independently of Face-book, and Mr. Koum will joinFacebook’s board, creating a del-icate balance of influence.

The men are divided by more

BY REED ALBERGOTTIAND DOUGLAS MACMILLAN

In Pricey FacebookDeal,Two Strong-Willed CEOs

Deal shakes Silicon Valley........ B1

CM Y K CompositeCompositeMAGENTA CYAN BLACK

P2JW052000-6-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

P2JW052000-6-A00100-1--------XA