Thursday, June 9th, 2022
Unprecedented Hearings, Housing Market Turnaround & Record NFL Deal
All the news you need in about 10 min:
This episode is brought to you by kiwico.com (Listen for the discount code) and Pampers.com
Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want to peruse the latest happenings.
Jan 6th Cmte Primetime Hearing Preview
The group of lawmakers that’s been investigating the January 6th Capitol riot is holding its first public hearing tonight. It will include live testimony from Capitol police officers and a documentary filmmaker who followed the extremist Proud Boys as they were storming the Capitol. This is the first of six public hearings. Over the next month, the committee says Americans will learn about what was going on inside former President Trump’s inner circle as the riot was happening and much more about the actions that led to the attack. The former president has dismissed the investigation as partisan and illegitimate.
Read More: Newsweek, Axios, WSJ, WaPo, DOJ
House Passes Gun Reform
Some of the most aggressive gun reform measures Congress has taken up in years passed the U.S. House. They include raising the age to buy most semiautomatic rifles from 18 to 21 and banning high-capacity ammunition magazines. However, the package of bills is a non-starter in the Senate since almost every Republican is against it, saying those kinds of measures step on Americans’ constitutional rights. For now, it seems the best chance for those who want new gun laws comes down to the bipartisan Senate committee that’s still in negotiations.
Read More: WaPo, NBC News, CBS News, WSJ
Survivors Sue FBI Over Nassar Case
More than 90 women and girls are suing the FBI over how it handled a high-profile abuse case. They all say they were sexually assaulted by former USA gymnastics team doctor Larry Nassar who’s now serving what amounts to life in prison for those crimes. Together, they’re seeking more than $1 billion from the FBI since the gymnasts reported allegations to the bureau more than a year before the FBI took action. In that time, dozens more athletes were molested. The FBI has admitted that shouldn’t have happened and has apologized. So far, the bureau hasn’t commented on the latest legal action.
Read More: NY Times, AP, NPR, CNN, Reuters
Southwestern US Heatwave
More than 25 million Americans are now bracing for a dangerous heatwave. Temperatures are expected to rise well above 100 degrees in large parts of California, Nevada, Arizona, New Mexico, and Texas over the next several days. In cities like Phoenix, Las Vegas, and San Diego, the heat is expected to top 110, making this the hottest weather we’ve seen so far this year. The heatwave has already started, and it’s expected to stick around in the southwestern U.S. through Sunday night.
Read More: CNN, AP, NY Times, USA Today, NWS
Moderna Modified Booster Data
The next Covid-19 booster shot on the market could be one specifically designed to target the now dominant omicron variant as well as the original strain of the virus that causes Covid-19. This week, Moderna released preliminary results from a study of its updated vaccine. They show this new shot produces a stronger immune response than Moderna’s original one and that the protection will last longer. The vaccine maker says the side effects from the new booster are pretty much the same as the old one, too. Moderna plans to submit its data to FDA regulators in the next few weeks in hopes of getting the new booster available by late summer.
Read More: ABC News, NY Times, WSJ, WaPo, Moderna
Hospitals Fined for Not Revealing Prices
Two Georgia hospitals have been fined a total of more than $1 million for not disclosing their prices. They’re the first to face penalties under new federal rules that took effect last year. Now, hospitals must list the cash prices for their 300 most common services, giving patients a chance to shop around or plan for the cost of care. However, a recent study found a lot of hospitals aren’t following the law. Some of those hospitals say they need more time to comply. Others say they don’t want to reveal their prices to competitors.
Read More: WSJ, AJC, NBC News, JAMA
Mortgage Demand Falls
A key measure of mortgage activity hit a two-decade low, signaling that Americans are slowing down on home borrowing. A new report from the Mortgage Bankers Association says the number of mortgage applications fell by 6.5% last week, and it was the fourth week in a row of declines. That includes new mortgages and refinancing activity. Higher interest rates likely have something to do with the drop. There are also still not enough homes for sale, so that’s keeping home prices high.
Read More: CNBC, WSJ, Axios, MBA
Mortgage Companies Address Inequities
Mortgage giants Freddie Mac and Fannie Mae announced changes meant to make it easier to buy a home and help close the racial homeowners’ gap. The initiative includes down payment assistance and lower mortgage insurance premiums. The companies are also rolling out a new credit reporting system that will factor in rent payments, not just credit scores. Those are just a couple of the many parts of this strategy. It’s in response to the federal government asking Fannie and Freddie to come up with a plan.
Read More: USA Today, CNN, WTHR, Fannie Mae, Freddie Mac
Netflix Might Buy Roku
A new Business Insider report says Netflix could buy Roku. It cites sources who say Roku workers have been talking about the possibility, and Roku has closed its stock trading window for employees. That type of action typically happens when a company is about to release big news that could impact its stock price. Neither company has publicly commented yet. However, some experts say the rumors would make sense. Netflix is a streaming service, and Roku is a streaming device that makes streaming content possible. Roku also has a big video-advertising platform, and Netflix is reportedly thinking about offering an ad-supported version of its service.
Read More: Insider, 9to5Google, TechRadar, Forbes
Walmart Heir Buys Broncos
A Walmart heir is leading efforts to buy an NFL team for what could be a record-setting price. Rob Walton, his daughter, and his son-in-law are looking to become the new owners of the Denver Broncos. The offer still needs to get approval from the right people within the NFL, but the deal is expected to go through. The expected purchase price is reportedly $4.65 billion. That would make this the most money ever paid for a sports franchise in the U.S. Walton would also become the NFL’s richest team owner, with a higher net worth than the other six richest owners combined.
Read More: Fortune, CBS Sports, WaPo, Bloomberg, Broncos
Thing to Know Thursday: Pool Sharing Services Booming
Pool-sharing is getting more popular. Swimming pool owners around the country are renting out their backyard spaces for chunks of time and making a lot of money doing it. Two rival apps are booming right now: Swimmy and Swimply. There is some competition from old-fashioned public swimming pools. However, not as much as usual. The American Lifeguard Association says at least a third of U.S. swimming pools are affected by a lifeguard shortage, forcing some of them to reduce hours or close. For now, Swimmy and Swimply aren’t options for people everywhere, but the apps have recently been expanding to more cities.
Read More: Axios, NY Post, CBS News, USA Today