P2JW312000-8-A00100-10FEEB7178F CMYK Composite CL,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SL,SW,TU,WB,WE BG,BM,BP,CC,CH,CK,CP,DN,DR,FW,HL,HW,KS,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO The Roots of Greatness IN TODAY’S PAPER BY BORIS JOHNSON INNOVATORS ISSUE WSJ. MAGA ZINE REVIEW VOL. CCLXIV NO. 111 WEEKEND ******** HHHH $2.00 SATURDAY/SUNDAY, NOVEMBER 8 - 9, 2014 i i World-Wide O bama authorized the deployment of up to 1,500 additional troops to Iraq and asked Congress for $5.6 billion to expand the fight against Islamic State militants. A1 Obama Authorizes 1,500 More Personnel To Boost Fight Against Islamic State n The Supreme Court will review a centerpiece of the Affordable Care Act in a major test of the health-care law. A3 WASHINGTON—President Barack Obama moved to expand the U.S. fight against Islamic State militants, authorizing up to 1,500 additional troops and asking Congress for $5.6 billion, while laying the groundwork for sweeping new legal authority to conduct counterterrorism operations across the Middle East and North Africa. The White House plan, which would double the U.S. troop presence in Iraq, sets the stage for a broader foreign policy debate when Congress returns to Washington next week. The moves Friday marked a White House push to redefine the executive branch’s authority, both to combat the immediate threat posed by Islamic State n Obama intends to nominate Brooklyn federal prosecutor Loretta Lynch as the next attorney general. A4 n A federal judge approved Detroit’s bankruptcy-exit plan, which trims about $7 billion of the city’s long-term debt. A5 n Republicans warned Obama against acting alone on immigration, saying it would impede cooperation. A4 n Mexican investigators found what they believe to be some of the burned remains of 43 missing students. A7 n Unidentified militants bombed the homes of top officials of the Fatah in the Hamas-ruled Gaza Strip. A7 n One of the final hurdles to restarting nuclear reactors in Japan was cleared, in a win for Prime Minister Abe. A6 i i Business & Finance n U.S. payrolls grew and the jobless rate fell to 5.8%, marking the longest stretch of job creation since at least WWII—a run at odds with a slow pickup in wages. A1 n The Dow and S&P 500 eked out record highs and Treasury prices rallied, though the Nasdaq slipped. B5 n Fed officials are warning of market turbulence as the central bank prepares to raise short-term interest rates. A2 n Sears is considering spinning off up to 300 companyowned stores into a separate company to raise cash. A1 n Authorities in Europe and the U.S. shut dozens of illegal websites, employing new techniques to unmask anonymity-network users. B1 n Elon Musk is exploring a venture that would make smaller, cheaper satellites to deliver Internet access. B3 n Abercrombie warned that its sales dropped 12% in the third quarter because of slowing mall traffic. B3 n Regulators faulted Wall Street banks for “serious deficiencies” in loans backing buyouts. B1 n Lawmakers stepped up pressure on Takata following allegations employees concealed evidence of air-bag defects. B4 n Berkshire Hathaway posted a drop in profit tied to an investment loss, though results overall topped expectations. B2 COLD WAR NO MORE: The Berlin Wall as it appeared shortly after it was built in a divided city in 1961, top, with soldiers outside the entrance to Potsdamer Platz underground station, stands in stark contrast to the area as it looks now, 25 years after the wall was torn town. A9, WSJ.com NOONAN A13 A Message Sent To a Grudging President Opinion................... A11-13 Sports............................ A14 Stock Listings.... B10-11 Style & Fashion.... D2-4 Travel.......................... D8-9 Weather Watch...... B13 Wknd Investor...... B7-9 > s Copyright 2014 Dow Jones & Company. All Rights Reserved The U.S. labor market in October reached its longest stretch of job creation since at least World War II, a run at odds with a slow pickup in wages and voter discontent with the economy. U.S. employers, which added 214,000 jobs to payrolls last month, are on pace to post the best yearly gain in employment since 1999. The steady job growth has pushed the nation’s unemployment rate down to 5.8% last month, closer to a level many economists consider healthy. It ‘WE JUST HAVE TO WORK A LITTLE HARDER’ Marine Corps Puts Women to the Test BY MICHAEL M. PHILLIPS CAMP LEJEUNE, N.C.—In combat, the No. 4 cannoneer on an artillery crew must heave 100-pound rounds, one after another, into the loading tray of a 155 mm howitzer. In the North Carolina woods these days, the job sometimes falls to a crew member who weighs just slightly more than the artillery shell she has to lift. “Everybody thinks that we’re not good enough and can’t do everything males can do,” said Marine Lance Cpl. Vicki Harris, a 4-foot, 11-inch, 110-pound military clerk from Cambridge, Ohio. “I want to get out there and prove them wrong.” Lance Cpl. Harris is part of a large-scale Marine Corps experiment intended to settle For Lampert, A Big Step To Tap Sears Real Estate BY SUZANNE KAPNER AND CHELSEY DULANEY Inside CONTENTS Books........................ C5-10 Corporate News... C3-4 Eating.......................... D5-7 Gear & Gadgets D11-12 Heard on Street.......B14 Letters to Editor.... A12 BY ERIC MORATH When Eddie Lampert merged Sears and Kmart nine years ago, the move was heralded less for its retail prospects than as a shrewd real-estate play. Now, the hedge-fund manager has signaled he’s ready to make his move. Sears Holdings Corp. on Friday said it was weighing whether to spin off up to 300 of its 712 company-owned stores into a separate entity in which Sears shareholders would be entitled to buy stakes. The move would raise much-needed cash for the struggling retailer, which warned it lost as much as $630 million in its most recent quarter. It also would be a big step toward one possible endgame for the company: somehow tapping Please turn to page A5 Heard on the Street.................. B14 Composite i Mustafah Abdulaziz for The Wall Street Journal, Getty Images n China and Japan eased tensions over a contested group of East China Sea Islands. A6 fighters in Iraq and Syria as well as the broader campaign against terrorist organizations around the world. Coming so soon after the Republican midterm election victories, Mr. Obama’s plans drew mixed reaction on Capitol Hill. Lawmakers signaled Congress is likely to go along with the funding request, but expressed reservations about the administration’s approach to Islamic State, also known as ISIS or ISIL. “I remain concerned that the Please turn to page A4 Solid Job Gains Belie Economic Unease the question once and for all: Can women fight in ground-combat units alongside men? The Marines have gathered 400 men and women for a unique experiment to find out. After the group finishes training next year, researchers will observe the men and women during a series of live-fire attacks and, with high-tech sensors, assess how troops of different sizes and sexes perform together in combat. The results, Marine officers say, will allow the Corps to set gender-neutral standards for 20 of its most physically demanding jobs, including rifleman, mortarman and artilleryman, combat positions whose very names suggest they have long been the purview of men. The Marines’ research experiment comes in response to a 2013 Pentagon order that the military services open all ground-combat jobs to women. “If members of our military can meet the qualifications for a job, then they should have the right to serve, regardless of creed, color, gender or sexual orientation,” then-Defense Secretary Leon Panetta said at the time. He left open a loophole: The services have until Jan. 1, 2016, to prove women can’t perform a particular combat job and request an exemption. “We want to collect the data and do the research before we open the positions,” said Capt. Maureen Krebs, a Marine Corps spokeswoman, “because we don’t want to set female Please turn to page A10 also suggests U.S. businesses are largely shrugging off mounting worries about overseas growth that contributed to market tumult in the first half of last month. Yet while Friday’s report from the Labor Department showed the 49th straight month of job gains, the current expansion trails several other shorter rebounds in terms of total job growth. The positive reading came just days after voters flipped control of Please turn to the next page Fed warns investors................... A2 Dow, S&P 500 inch higher...... B5 Pick at Justice TOP PROSECUTOR: Loretta Lynch, a U.S. attorney in New York, is President Obama’s choice to succeed Eric Holder as attorney general. A4 With Guests on the Way, China Aims for Its Manners to ‘Be Splendid’ i i i Act ‘Civilized and Polite’ on Beijing Buses, Subways and You Might Win a $10 Pass BY TE-PING CHEN BEIJING—Here in China’s capital, riding the city’s sprawling subway can sometimes be a contact sport. Morning rush hours turn into mosh-pit-like scenes in which riders compete to board packed trains. Shouts and curses ring out. Elbows are thrown. Occasionally, passengers who squeeze their way in are flung out again by the crowds. Now, as President Barack Obama and other world leaders descend on Beijing for the Asia-Pacific Economic Cooperation summit Zheng next week, authorities have launched a behavior-modification campaign: A contest to promote grown-up deportment onboard. Started this summer, the “Be a Splendid Beijinger and Welcome APEC—Civilized, Polite Passengers” competition aims to identify and honor the top 100 best-behaving bus and subway passengers. It’s a kind of “China’s Next Top Model,” except for public transportation. Some 40,000 residents have entered to win. Many did so by filling out forms that asked them to explain their “accomplishments” as riders. Others were handpicked by the more than 8,000 yellow-jacketed guides, mostly elderly retirees, Beijing Shuyun has deployed to encourage more-orderly behavior at bus stops and subways. Photos of contestants are hung on posters during rush hour across the city’s subway Please turn to page A10 The Best Value in Wireless. Now you can get the best value in wireless. Introducing the new Sprint Simply Unlimited Plan. It’s just $50/mo for unlimited data, talk, and text on the Sprint network. $ 50 plan exclusively for non-discounted iPhone 6 and iPhone 6 Plus. Other monthly charges apply.** Visit a Sprint store | 800-SPRINT-1 | sprint.com/bestvalue **Monthly charges exclude taxes & Sprint Surcharges [incl. USF charge of up to 16.1% (varies quarterly), up to $2.50 Admin. & $0.40 Reg./line/mo.) & fees by area (approx. 5%–20%)]. Surcharges are not taxes. See sprint.com/taxesandfees. Activ. Fee: $36/line. Sprint Simply Unlimited Plan: Offer ends 1/15/15. Available only for iPhone 6 and iPhone 6 Plus. Includes unlimited domestic Long Distance calling, texting and data. Third-party content/downloads are add’l charge. Int’l svcs are not included. Pricing may vary based on number of lines or device purchase type; 10 lines max. After 10 lines, an additional $10/mo./line max. line srv. charge applies. Line must remain activated on an iPhone 6 or iPhone 6 Plus. Usage Limitations: Other plans may receive prioritized bandwidth availability. To improve data experience for the majority of users, throughput may be limited, varied or reduced on the network. Sprint may terminate service if off-network roaming usage in a month exceeds (1) 800 min. or a majority of min. or (2) 100MB or a majority of KB. Prohibited network use rules apply—see sprint.com/termsandconditions. iPhone for Life Plan: Service plan rates and availability subject to change. Req. good standing. Other Terms: Offers and coverage not available everywhere or for all phones/networks. Available at participating Sprint stores. No discounts apply. May not be combined with other offers. Restrictions apply. See store or sprint.com for details. P2JW312000-8-A00100-10FEEB7178F n Ukraine accused Russia of sending dozens of tanks and other vehicles into rebelheld eastern Ukraine. A8 By Michael R. Crittenden, Jeffrey Sparshott and Felicia Schwartz Associated Press i U.S. to Send More Troops Into Iraq Berlin Wall: The Anniversary of a Demise What’s News WSJ.com MAGENTA BLACK CYAN YELLOW
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