Good Morning, It’s Wednesday, 22 March 2017, and this is the Morning Edition of The Nightshift, the world’s overnight news feed.
The White House is still reeling from the revelations in Monday’s Russia Hacking/Wiretap hearing. An administration that entered office blasting the press and criticizing the intelligence services is now paying the price for going to battle with “someone who buys ink by the barrel” and “the people who know everyone’s secrets”. Part of the art of picking a fight is knowing who to pick it with…a skill that seems to have eluded the current administration. Trumpcare is looking increasingly like it’s D.O.A. but with this Congress you never can tell. The White House has told congressional representatives that they will face a tough time getting re-elected if they don’t vote for the bill, but a surprising number of Representatives have sorted out the fact that the White House can’t vote them into or out of office. If the bill fails to get out of the house, things are going to get downright depressing at 1600 Pennsylvania Avenue (and probably in Mar-A-Lago too).
Jerry Krause, the architect behind the great Chicago Bulls/Michael Jordan teams from 1984-1998 has died. He was 77 and will always be credited with having superb player/coach judgement. It was Krause that put Michael Jordan, Scottie Pippen, Steve Kerr, and Dennis Rodman on the court together and brought in Phil Jackson to coach them. It was an era and he created it–the Bulls won 6 titles under Krause’s guidance. Thanks, Jerry, for the memories.
Yesterday was the worst day of the year for the stock market. Think all that talk of Russian hacking and possible collusion had anything to do with it? Sears is on the ropes (again) and this time it’s “doubtful” the enterprise can continue. Inevitable. The company was bought by the current owners/management for the real estate; the retail operations were just the bonus round. That might make a compelling investment story (“We can’t lose..if it all goes down, we still have the real estate”) but it greatly devalues a company that once accounted–by itself–for 1% of the American GDP. It’s a very sad situation, since Sears was once the crown jewel of American retailing. There’s a full business course’s worth of information about Sears in the excellent book “The Big Store”, by Don Katz. Required reading for investors and entrepreneurs alike.
For a light news day, that’s a lot of news as one of the Media Bunker reporters said. But…wait…there’s more.
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The Fine Print: Embed courtesy of our friends at Getty Images, who have the photographic history of the 20th and 21st century on file. They remain the internet’s go-to source for photos. This visual has not been altered in any way. We thank them for sharing. The Nightshift is a production of Perception Engineering and The Media Bunker. This post is number 1032 for this site. Thanks for reading. Now–catch up on the world.