DAILY NEWS
I-1366 mistake, strong unions, Corey’s Colour…
Friday, November 6, 2015
STATE GOVERNMENT
► In today’s Olympian — State lawmakers to propose amending constitution in response to Eyman’s I-1366 — Republican state Sens. Michael Baumgartner and Doug Ericksen said in a news release Thursday that they will introduce a constitutional amendment requiring a two-thirds supermajority vote to approve tax increases.
► In today’s Olympian — Voters made a mistake with I-1366 (editorial) — Everyone makes mistakes. Voters and legislatures make them, too. That’s why we have courts — to cull the legal apple barrel and toss out bad laws that violate the Constitution. In Tuesday’s election, Washington voters erred in giving approval to Initiative 1366. It’s a bad apple that needs to be thrown out by the state Supreme Court.
► In today’s News Tribune — Move legislation to improve mental health services (editorial) — Set aside for a moment the drama currently going on at Western State Hospital, which is plagued by critical staff shortages and in danger of losing as much as $64 million a year in federal funding. Western State is just a small piece of a larger, national failure to provide adequate mental health services.
BOEING
► From Reuters — Boeing to pay $57 million to settle 401(k) lawsuit — Boeing Co said it had agreed to pay $57 million to settle a lawsuit in which employees accused the company of mismanaging their 401(k) retirement plan. The settlement amount is the second-highest ever in excessive 401(k) fee litigation, according to the law firm representing the employees. The Boeing lawsuit, filed in 2006, contended that the company had breached its fiduciary duties to employees by allowing the record-keeper to charge employees and retirees excessive fees and placing expensive and risky investment options in the plan, which dampened investment returns.
► In today’s Seattle Times — Boeing and Lockheed challenge Northrop win for bomber contract — Boeing and Lockheed Martin formally challenged the Pentagon’s selection of Northrop Grumman to build a heavy bomber valued at as much as $80 billion, calling the process “fundamentally flawed.”
► In the P.S. Business Journal — Dreamliners even more fuel efficient than promised, says Qatar top exec — Qatar Airways CEO Akbar Al Baker said that while Qatar had at one point considered canceling its Dreamliner orders as Boeing struggled with early 787 production woes, he’s now completely satisfied with the jet.
LOCAL
ALCOA
► In the Wenatchee World — SkillSource office preparing to assist Alcoa workers — The office of Wenatchee SkillSource is readying “rapid response” meetings for soon-to-be displaced employees of Alcoa’s Wenatchee Works smelter to answer questions about unemployment insurance, reemployment and training options.
► From Bloomberg — A 127-year-old U.S. industry collapses under China’s weight — For 127 years, Alcoa has been churning out the lightweight metal used in everything from beverage cans to airplanes, once making it a symbol of U.S. industrial might. Now, with prices languishing near six-year lows, it’s wiping out almost a third of domestic operating capacity. If prices don’t recover, researchers almost all U.S. smelting plants will close by next year.
► From Bloomberg — Chinese steel slapped by 236% U.S. tariff — Imports of some corrosive-resistant steel from China may be taxed as much as 236 percent based on the level of subsidies they receive, according to a preliminary finding by the U.S. Department of Commerce.
FEDERAL GOVERNMENT
► From Reuters — U.S. unions, lawmakers vow scrutiny of Pacific trade pact — “It’s worse than we thought,” said Lori Wallach, director of Public Citizen’s Global Trade Watch. U.S. labor representatives, who had already voiced opposition to the deal, said the agreement contained weak, poorly worded or unenforceable provisions. “There are improvements, but we do not believe those improvements are significant or meaningful for workers,” said Celeste Drake, trade and globalization policy specialist at the AFL-CIO.
ALSO at The Stand — Recess! Tell your Rep. what you think about ‘Cadillac tax,’ TPP
— TPP finally released: Will it help or harm people? (statement by WSLC’s Jeff Johnson and Lynne Dodson)
► From AP — Obama administration kills Keystone XL pipeline — President Barack Obama says he’s rejecting the Keystone XL pipeline because he does not believe it serves the national interest. Obama says the pipeline has played an overinflated role in political discourse.
NATIONAL
► In today’s NY Times — U.S. economy added 271,000 jobs in October; unemployment rate at 5% — The combination of the surge in job creation, rising wages and the falling unemployment rate largely puts to rest any lingering fears of a new recession and suggests that the economy is likely to continue to improve as the nation heads into an election year.
► From Politico — Days of desperation — There’s a reason Jeb Bush, John Kasich and other establishment Republicans aren’t gaining traction. Their conservatism no longer makes sense.
T.G.I.F.
► Happy birthday to singer, guitarist and actor Corey Glover of the bands Living Colour and Galactic. The Entire Staff of The Stand were big fans of Living Colour’s groundbreaking blend of metal, funk, jazz and rock. This is our favorite song of theirs, with Glover delivering his usual inspired, passionate vocals. Check this out…
The Stand posts links to Washington state and national news of interest every weekday morning by 10 a.m.