Unemployment dropped to 9% in October; Corzine resigns from MF Global; Boehner says the supercommittee’s deal will include tax increases; Pakistan has been hiding its nuclear weapons to avoid US raids; Cain may sue Politico; and Groupon has successfully gone public. Meanwhile, the mother of Justin Bieber’s alleged child may face rape charges, and GTL no longer? Snooki claims The Situation is broke.
Coral + Caitlin
CRUCIAL:
Unemployment rate drops to 9 percent, http://goo.gl/sb2oJ
Unemployment decreased to 9% in October; despite this, only 80,000 jobs were added in comparison to the 100,000 that were expected. The private sector added 104,000 jobs, which was in line with estimates. The number of jobs added in September was also upped from 103,000 to 158,000.
As Regulators Pressed Changes, Corzine Pushed Back, and Won, http://goo.gl/VS3Nj
Jon Corzine has resigned from MF Global, his brokerage firm which has now gone bankrupt. As CEO, Corzine persuaded regulators to allow MF Global to conduct risky trades that ultimately led to the company’s demise. He also pressed regulators to allow a transaction that essentially would allow MF Global to borrow money from its customers. Now officials are looking over the company’s books in order to find the $630 million missing from customers.
Boehner: Debt deal will include new tax revenues, http://goo.gl/AD2bN
John Boehner announced yesterday that any bi-partisan debt deal reached by the “supercommittee” will include tax hikes. The Speaker went on to say that the tax increases will only be added if serious reforms to Medicare, Medicaid, and Social Security are included.
The Ally From Hell, http://goo.gl/0xGXG
According to The Atlantic, Pakistan has been continuously shuffling its nuclear weapons between the 15 facilities that hold them in order to make it harder for India or the US to carry out a raid. The moving of the weapons has been done in normal, low-security vehicles in everyday traffic. “The Pakistani government is willing to make its nuclear weapons more vulnerable to theft by jihadists simply to hide them from the United States, the country that funds much of its military budget,” Jeffrey Goldberg and Marc Ambinder write.
Cain camp considering legal action against Politico, http://goo.gl/Rl1Y2
An aide to Herman Cain said yesterday that the candidate is considering legal action against Politico for reporting on his past sexual harassment claims. This is likely not over with Politico from a legal perspective,” the campaign official told The Washington Post. Despite this, Politico is still reporting on the allegations, revealing new details where one of the two women claims Cain made a sexual overture to her at a group event. The woman felt her job would be at risk if she did not comply with Cain in the situation. Meanwhile, Cain’s wife, who was supposed to do her first interview today with Fox News, has since cancelled.
Groupon shares surge 46 percent in early trading, http://goo.gl/VjUXi
Groupon has raised $700 million since it went public today. It has sold 35 million shares at $20 each, which is above the original price of $16-$18. This is the largest IPO for an Internet company since Google went public in 2004. Groupon will begin trading on NASDAQ today under the ticket symbol GRPN.
Judge won’t face charges in videotaped beating, http://goo.gl/rwr4F
William Adams, the Texas family-court judge who was videotaped beating his 16-year-old daughter with a belt, will not face charges because the statute of limitations has expired. Adams’ daughter, now 23, posted the video to YouTube where it caused an uproar. In a statement, Judge Adams said that his daughter posted the video because she was angry he reduced her financial allowance and took away her Mercedes. He did not apologize for the abuse and noted that the video “looks worse than it is.”
CULTURAL:
Police: Bieber sexual tryst may be investigated, http://goo.gl/DodFs
Jury to get Michael Jackson doctor manslaughter case Friday, http://goo.gl/6IX5L
‘Jersey Shore’ star Snooki: ‘The Situation is broke,’ http://goo.gl/eTQiT
Drew Barrymore, Eddie Murphy Top Forbes Overpaid Actors List, http://goo.gl/uHwox




