Your Evening Briefing
Now is most certainly not the winter of our global discontent. How did being enraged become all the rage? It all started centuries ago, according to one writer. The question feels particularly apt with today's environment and news. –Emily Banks
Howard Schultz earned more than half a billion dollars in nine years. When Howard Schultz steps down from the top job at Starbucks this spring, he'll be a wealthy man. Really, really, really wealthy–even more than previously thought. Schultz has received compensation worth about $172 million since he began his second stint as the coffee retailer’s CEO in 2008. Most of his pay is in equity, which varies with Starbucks’ share performance. Since he led the company to a sixfold stock improvement, Schultz’s total payday for the last nine years amounts to $553.3 million.
Conflict escalated over Trump's immigration order, with the president ousting acting Attorney General Sally Yates, an Obama holdover, hours after she told Justice Department staff not to defend the ban in court because she didn’t think it was legal. Trump quickly named another Obama appointee to the post, Dana Boente, the U.S. attorney for the Eastern District of Virginia, who then reversed Yates's directive. Is the ban legal? Here's a Q&A on it and the legal landscape ahead.
Today in Trump's America: drug prices, stalled nominations, Supreme Court pick. The president told drugmakers at a meeting they were charging “astronomical” prices and promised to get better bargains for government programs. The Senate Finance Committee postponed votes on Trump's Treasury and Health and Human Services nominations, after a boycott by Democrats denied the panel a quorum. Trump says he will announce his Supreme Court nominee at 8 p.m. ET.
After the election, Warren Buffett bought $12 billion of stock, adding to his portfolio at Berkshire Hathaway in a big way. Purchases of that magnitude represent a major pickup in activity: During the first nine months of last year, the company bought $5.2 billion and sold or redeemed roughly $20 billion worth of stocks. The billionaire didn't identify the securities he picked.
Mexicans are furious at their government for letting Trump push their country around. What’s more, many proclaim to be fed up with Nafta. Trump’s pledge to rewrite the trade pact doesn’t go far enough for them. It should be scrapped entirely, they say.
Where did all this global rage come from? Cultural critic Pankaj Mishra may overstate and generalize at times in his book Age of Anger: A History of the Present, but in probing for the wellspring of today’s anger he hits on something real. He traces our current mood back to the French Enlightenment of the 18th century and focuses on the reaction, sometimes extreme, to elites who ignored or misunderstood the plight of ordinary people.
Here's a guide to prepare for the apocalypse. Nobody likes to contemplate catastrophes, nuclear or not, which is why we’re woefully unready for them. Only one-third of American households have an adequate plan for an emergency. Here's how you can prepare, from identifying a home away from home to buying and packing a bug-out bag.