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Tribune News Service

Business Budget for October 7, 2019

Updated at 6 p.m. EDT (2200 UTC)

Adds RETAIL-HOLIDAY:HC, MARKETS-WARREN:BLO, AUTO-UAW-STRIKE-CORVETTE:DE, HILTZIK-COLUMN:LA, INCOME-INEQUALITY-CALIF:SJ

This budget is now available at TribuneNewsService.com, with direct links to stories and art. See details at the end of the budget.

^TOP STORIES<

^The roll-back of an Obama-era regulation could leave transgender patients at risk of health care discrimination.<

^HEALTHCARE-TRANSGENDER:TB—<Len Meyer knows what it's like to fight a health insurance company for coverage.

Meyer, who is nonbinary and transgender, spent more than six months battling an insurance company to cover a double mastectomy. The company claimed the procedure wasn't medically necessary, and denied it three times before the insurer agreed to cover it in 2015, Meyer said.

"It was really frustrating," said Meyer, 47, of Bloomington, Ill. "For me to feel like I was my true, authentic self, having that surgery really made a change for me."

1200 by Lisa Schencker. MOVED

PHOTOS

^Landlords say state rent caps may force them to raise rents more frequently<

REAL-RENTCAPS:LA — Prominent landlord attorney Dennis Block stood before a crowd of more than 200 at an apartment owners trade show in Pasadena and, to laughs, boasted of having evicted "more tenants than anybody else on the planet Earth."

Block said he was proud to enforce what he said America was built on: property rights. He then talked about the "scourge of this new statewide rent control that is coming up" and offered some ways that landlords could evade rules that as of Jan. 1 would cap annual increases for tenants at 5% plus inflation and require "just cause" to evict.

His advice? Quickly hand out no-fault eviction notices to tenants who pay low rent or make frivolous requests.

2100 by Andrew Khouri in Los Angeles. MOVED

PHOTO

^<

^OTHER BUSINESS NEWS<

^Week 4: As UAW GM strike takes its toll, workers vow they're more committed than ever<

UAW-STRIKE-WORKERS:DE — At Cathedral of Faith Church on Dupont Road in Flint, the values that guide the UAW strike against General Motors mirror values preached from the pulpit by Pastor Chris Martin.

"We've cried enough. We've been helpless enough," Martin said during a packed Sunday service filled with plant managers, full-time line workers, temporary workers fighting for job security and retirees. "We understand the depth of our struggle."

950 by Phoebe Wall Howard in Flint, Mich. MOVED

PHOTO

^As new round of tariffs loom, US firms take different roads<

USCHINA-TARIFFS:MS — With a potentially devastating round of new tariffs set to take effect Oct. 15, multinationals that do business in China have adopted two distinct strategies depending on whether they buy from or sell into the Chinese market.

Buyers, such as Target Corp. and Best Buy, scramble to deal with cost increases, while sellers such as Medtronic, Ecolab and Cargill battle to sustain foreign investments.

1050 by Jim Spencer in Washington. MOVED

PHOTO

^Houston Rockets manager backs off Hong Kong tweet after China backlash<

NBA-CHINA-HONGKONG:BLO — The Houston Rockets and the NBA found themselves caught in a firestorm of controversy over a tweet about the protests in Hong Kong, extending to the sports world the list of targets vulnerable to China's political sensitivities.

In a tweet late Friday, General Manager Daryl Morey appeared to support Hong Kong demonstrators, with the message containing an image that read "Fight for Freedom. Stand with Hong Kong." The message was deleted, and Morey later tweeted that he did not mean to cause offense. The National Basketball Association issued its own apology.

But the damage was done, with Chinese sportswear maker Li Ning Co. and Shanghai Pudong Development Bank Credit Card Center suspending cooperation with the Rockets, while CCTV Sports said it will halt broadcasting the team's games.

600 by Derek Wallbank in Singapore. (Moved as a world story.) MOVED

PHOTO

^It's beginning to look a lot like strong retail sales as optimistic retailers prepare for the Christmas rush<

^RETAIL-HOLIDAY:HC—<Retailers preparing for Christmas are optimistic about sales and consumers' buying power despite signs of a slowing economy and the impact of tariffs.

The National Retail Federation said Thursday it expects holiday sales to rise by as much as 4.2% this year, twice as fast as in 2018. An industry representative in Connecticut said business locally will likely track the national increase.

550 by Stephen Singer. MOVED

^GM's much-anticipated 2020 Corvette Stingray to be delayed by UAW strike<

AUTO-UAW-STRIKE-CORVETTE:DE — General Motors' much-anticipated Chevrolet 2020 Corvette Stingray will be delayed going to market because of the UAW strike, the Free Press has learned.

Two people familiar with GM's production plans said the automaker will have to delay the production and launch of eighth-generation Corvette as it works to catch up on production of the current model and retool the plant to prepare to build the new model. Neither of those two things can happen as scheduled because of the strike.

500 by Jamie L. LaReau in Detroit. MOVED

PHOTO

^PERSONAL FINANCE AND INVESTING STORIES <

^Stocks already face pain of Elizabeth Warren win, analysts say<

MARKETS-WARREN:BLO — Though there's more than a year to go before the November 2020 presidential election, the stock market has started to reflect the ramifications of Elizabeth Warren potentially capturing the White House, analysts say. They're flagging the senator's rising influence ahead of bank earnings reports, which kick off next week, and as the possibility of impeaching President Trump has pulled forward some risk.

Bank earnings season starts on Tuesday, Oct. 15, with reports from Citigroup, JPMorgan Chase & Co., Goldman Sachs Group Inc. and Wells Fargo & Co.

Here's a sample of the latest commentary.

500 by Felice Maranz in New York. MOVED

^Income inequality is on the rise in California. In some Bay Area counties, the disparities are extreme<

^INCOME-INEQUALITY-CALIF:SJ—<California is the Golden State — at least for those at the top of the income scale. For everyone else, the nickname may apply more to the sun than to money.

That's one takeaway of a recent analysis of U.S. Census Bureau data by the California Budget and Policy Center (CBPC), which found a widening gap between the state's haves and have-nots.

The CBPC analysis found major gains for California's richest residents, modest gains for people with median incomes, and losses for the lowest income earners when adjusted for inflation.

650 by Erica Hellerstein. MOVED

PHOTOS

^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 tydavis@tribpub.com.

^COLUMNS<

^Michael Hiltzik: In caving to the Chinese, the NBA reminds everyone that it's a business like any other<

^HILTZIK-COLUMN:LA—<Fans, pundits, free speech advocates, even members of Congress have been piling on the National Basketball Assn. for its craven genuflection to the Chinese government over a tweet Friday by Houston Rockets general manager Daryl Morey.

Morey's tweet expressed solidarity with the Hong Kong protesters who have bedeviled Beijing for months. The tweet read, "Fight for Freedom. Stand with Hong Kong." It has since been deleted, leaving in its wake increasingly abject backpedaling by Morey, his team owner and the league itself.

1050 by Michael Hiltzik. MOVED

^<

These features regularly move on Monday:

^Susan Tompor: Unlocking FAFSA money for college is easier than ever: How to apply<

^PFP-TOMPOR-COLUMN:DE—<Who wouldn't want to spend an hour or so trying to get extra cash for college?

Well, pretty much any parent or student who is dreading filling out the Free Application for Federal Student Aid. Families who expect to have a student in college in the fall of 2020 can start applying now.

"Those who have never completed a FAFSA likely have heard stories about how difficult and time consuming it is to complete," said Rick Shipman, executive director of financial aid at Michigan State University.

"Well," he said, "things have changed."

1100 by Susan Tompor. MOVED

^KIDS AND MONEY<

^Kids and Money: Dumb phones are a great way to manage kids' internet use<

^PFP-KIDSANDMONEY:MCT—<When it comes to buying a cellphone for your children, the dumb play might be the best play.

Indeed, dumb phones, including Gabb, Light, Exalt and Jethro, are coming of age. They basically offer phone calls and texting, but little else.

650 by Steve Rosen. MOVED

^<

(EDITORS: The Steve Rosen column is syndicated through Tribune Content Agency. The column is not a part of your News Service subscription. To use this column, you must purchase the rights to it from Tribune Content Agency. Please call Rick DeChantal at either 800-245-6536, ext. 4544 or at 312-222-4544.)

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