Good Day, Bad Day
Customer returns, pin-ups
OOD DAY FOR: Customer returns, as a Qatar-owned investment firm is walking away from a $22 billion bid for British supermarket chain J Sainsbury, citing deterioration in the credit markets and high pension costs. Sainsbury shares shed 20 percent this morning on the news. The Qatari firm, Delta (Two) Ltd., still owns 25 percent of Sainsbury. (Bloomberg)
BAD DAY FOR: Pin-ups, after religious and anti-pornography groups are pushing Congress to stop the Pentagon from selling Penthouse and Playboy publications on military bases. Congress banned the sale of “sexually explicit material” on bases in 1996. The Defense Department determined that many of the magazines and videos were not explicit enough to ban. (USA Today)
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