This Week in Headlines: Margaret Thatcher, KPMG, & North Korea
What happened this week? Lots. And our friends at theSkimm have you covered with a run-down of the top headlines. (Want them delivered daily to your inbox? Sign up at theskimm.com)
News That Makes Us Sad
The “Iron Lady”
Margaret Thatcher, who served as Britain’s first female prime minister from 1979-1990, passed away Monday after a stroke. She was 87.
The Why (Do I Need to Skimm?)
Thatcher broke a lot of glass ceilings and was more than just a leader to Britain. She was influential in helping to end the Cold War and laying the groundwork to get Britain’s economy back on track, privatizing big-state owned industries. She loved free markets (meaning free of government regulation) and led a global push for them, to the critique of some. She was known for her ’tude and toughness and was a hero to many conservative Americans. Former First Lady Nancy Reagan even admitted Thatcher was her husband Ronnie’s political soul mate.
Even in death she was controversial, as the hashtag #nowthatchersdead led many a Tweep to believe Cher had passed away. Lessons learned: Don’t mess with Cher fans. Never mess with the “Iron Lady.”
News That Makes Other People Sad
KPMG had a terrible, horrible, no good, very bad day.
The Why (Do I Need to Skimm?)
KPMG is the smallest of the Final Four in accounting firms and performs audits for major companies like Skechers USA and Herbalife. Now, those two companies are in the spotlight after a senior partner at KPMG stepped down and the firm resigned as auditor of the companies, all because of alleged insider trading. Former senior partner Scott London is believed to have leaked secret info that made its way to a stock trader. Wrong move.
The situation has extra significance due to the publicity surrounding Herbalife—a nutritional-supplement maker at the center of a battle between legendary investors, one who believes the company is a giant scheme. No word if London moved out wearing his Shape-ups.
Senate Minority Leader Mitch McConnell (R-KY) has found himself starring in a very bad episode of E! True Hollywood Story—Watergate Pt. Deux.
The Why (Do I Need to Skimm?)
For a while, there was serious speculation that actress Ashley Judd would challenge McConnell for his Senate seat. Judd has since said she won’t run, but Mother Jones, a liberal magazine, obtained a recording where the senator and his team plotted to eliminate the potential competition and attack her previous issues with depression and her religious beliefs: “This is the ‘Whac-A-Mole’ period of the campaign… when anybody sticks their head up, do them out.”
That would be enough Hollywood drama, but now McConnell’s team is working with the FBI to find out who bugged him. McConnell’s team has compared the scandal to the left using Watergate-tactics against him. So far, no one is taking the title of Deep Throat.
Repeat After Me
What to Say When Someone Constantly Annoys You
You’re really testing my “strategic patience,” otherwise known as President Obama’s policy in dealing with North Korea. There’s more smack talk from North Korea, including warnings for foreigners to evacuate because of the threat of a “thermo-nuclear war.” A full-out war is probably unlikely, however, the U.S. thinks North Korea is likely to conduct another missile test at any time (although who knows?), as intel shows they’ve completed some launch prep. The silver lining? The U.S. said even if it does launch them, not to worry, we can intercept those bad boys.
What to Say While Trying Out a New Spring Look
I’m going in a new direction, just like J.C. Penney. CEO Ron Johnson was ousted on Monday after a year-and-a-half adventure of trying to turn the company around resulted in disastrous sales. He was replaced by his predecessor, Myron Ullman. Burn. Johnson came to J.C. Penney from Apple and spent his days putting out one fire after another: getting rid of sales, but then bringing them back; offering a pricing strategy that only confused customers; focusing on lifestyle instead of price, forgetting shoppers like to know how much things cost. The company lost a staggering amount of money last quarter and slashed his pay by 97% for 2012. Yeah, the writing was kind of on the wall.
What to Say When You Use Your Ex-Boyfriend’s XFINITY Login
Hey, everyone wants to stream for free. News Corp.’s Fox TV doesn’t appreciate Interweb loopholes and has threatened to stop broadcasting and serve only pay-TV customers if U.S. courts don’t start protecting it. COO Chase Carey and his mustache made the announcement as a part of an ongoing battle with Aereo Inc., a startup backed by Barry Diller, which streams broadcast TV signals for a monthly fee. Networks aren’t pleased, as they are worried about billions of dollars in lost fees, and are suing. News Corp.’s move could be a major threat to the traditional broadcast TV business model if Aereo, and friends like it, continue streaming on.
What People Are Horrified By
A stabbing spree at a community college near Houston, Texas that left at least 14 people injured, some critically. The attack was reportedly carried out by a student and a suspect is in custody after being tackled by at least one other student. The perpetrator allegedly ran from building to building, cutting people with a sharp object.
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Photo courtesy of Glenn Dettwiler.
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