Grumpy Editor

EXISTING HOME PRICES POST BIGGEST DROP IN MORE THAN DECADE

 

Existing home prices in the U.S. p0sted the biggest year-over-year decline in more than 11 years in May as rising interest rates continued to weigh on the housing market, Grumpy Editor noted in The Wall Street Journal.

 

National median existing home prices fell 3.1 percent to $396,100 in May vs. the same month last year. It was the largest drop since December 2011, according to the National Association of Realtors.

 

Mortgage rates have fluctuated since hitting 20-year-highs above 7 percent in October and November.

 

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NATIONAL GUARD STRUGGLES TO YIELD RECRUITS.  National Guard continues to  find it difficult to attract recruits.  However, it hopes to get closer to recruiting goals this year while battling private companies such as FedEx, Micosoft and Wendy’s.

 

CHARITY DONATIONS DECLINE.  Americans gave the lowest percentage of disposable income to charity last year since 1995, per a new Giving USA report, adding total amount of charitable giving fell 3.4 percent last year to $499.3 billion — a 10.5 percent decrease when adjusted for inflation.

 

SEARCH ON FOR ‘HERO’ DOG.  Colombia is searching for a dog named Wilson that aided in finding missing children in the Amazon.  The Belgian Shepherd became a national hero in that country when he helped the military find four children who survived a plane crash and were lost in the jungle for 40 days. Wilson went missing during the search and is the target of a rescue operation.

 

MORE BARRIERS PLANNED FOR COCKPITS.  A new FAA rule will make it more difficult to break into airplane cockpits.  Planes built after mid-2025 will have seconday barriers when the main cockpit door is open.

 

SHALLOWER WATER AFFECTS PANAMA CANAL.  Because of the drought and shallower water, container ships in the Panama Canal will be limited to a depth of 43.5 feet. Largest ships that go through the canal are Panamax container ships that require at least 43 feet to pass through.

 

BEAR TRIES TO ENTER SECOND STORY WINDOW.  In Colorado, a bear tried to climb through a second story window, then got stuck dangling from it. Colorado Fish and Wildlife was called to rescue it.

 

NEW ASSAULT VEHICLE SET FOR ARMY.  The Army unveils a new assault vehicle with firepower of giant tanks but is a fraction of the size. It is seen as rewriting the battlefield understanding of how tanks are used in combat.

 

 

MEDIA JOB CUTS GROW THIS YEAR

Going into June, at least 17,436 media jobs have been cut, notes Grumpy Editor.

 

It marks the highest year-to-date level of cuts on record, according to a Challenger, Gray & Christmas report.

 

Previous high was at the outset of the pandemic in 2020, when 16,750 job cuts were announced through May.

 

The cuts stem from the news industry facing huge constraints due to a slowdown in the ad market, debt from consolidation and subscription fatigue.

 

Elimination of jobs is triggering more union conflicts, which are putting pressure on media bosses.

 

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MOST SOUGHT WORKERS.  Who are the most sought-after workers this summer?  Topping the list are swim instructors, camp counselors and ice cream scoopers.

 

HOMICIDES BELOW LAST YEAR.  Homicides are down in major U.S. cities.  Killings are 12 percent below last year in nine of the 10 most populous cities compared with the same time in 2022.

 

NORTH KOREA CONTINUES FIRING MISSILES.  North Korea continues to be busy firing missiles.  Last week the Communist nation launched two ballistic missiles toward the sea in protest of U.S.-South Korea military drills.

 

BOOK RETURNED 65 YEARS LATE.  An 86-year-old returns George Orwell's "1984" to a Portland, Oregon library 65 years late. He says it needs to be read now "more than ever." 

EXPENSIVE PAINTING SOLD.  A masterpiece by Austrian artist Gustav Klimt could become the most expensive painting ever sold in Europe at a June 27 auction in London.  “Dame mit Fächer” — Lady with a Fan — will go up for sale with an estimated price of $80 million.

 

DEAD FISH ON TEXAS BEACHES.  Thousands of dead fish washed up on beaches along the Gulf Coast in Texas.  Experts in the region say it is due to a depletion of oxygen caused by high water temperatures.

 

BIG POISON IVY PLANT DRAWS ATTENTION.  An Ontario, Canada man says a 68-foot-tall poison ivy plant growing on his property left him itching for Guinness World Records recognition.  Robert Fedrock says he was walking in a wooded area on his property when he spotted the large vine growing up a tree.

 

DOGS JUMP INTO SWIMMING POOL. Drawing attention on the Web:  39 dogs happily jumping into a swimming pool to cool off on a hot summer day at Lucky Puppy doggy day care in Maybee, Michigan near Detroit.

HOMICIDES FALL IN SOME U.S. CITIES

Homicides are down in some U.S. cities, notes Grumpy Editor.

A major Wall Street Journal story points out homicides are falling after rising during the first two years of the pandemic.

Citing government data, the Journal reports “so far this year killings are down 12 percent overall in nine of the 10 most populous cities compared with the same time frame last year.”

Major cities with a drop in homicides, notes the Journal, include New York, Los Angeles, Chicago, Houston, Phoenix and Philadelphia.

However, Texas cities San Antonio, Dallas and Austin show an increase.

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VETERANS BRAVE WEATHER TO MARK D-DAY.  More than 50 veterans from World War II braved the chilly, windy air along the northern French coastline to salute their fallen comrades last Tuesday, the 79th anniversary of the D-Day invasion.

CONSUMER CONFIDENCE JUMPS.  Consumer confidence is soaring this month to a fresh pandemic high as Americans become more upbeat about the economy and job market. The Conference Board’s index increased to 127.3 from an upwardly revised 120 reading in May. 

CHINA GETS OUTPOST ON CUBA.  China makes a secret agreement with Cuba, roughly 100 miles from Florida, to establish an electronic eavesdropping facility on the island. It will allow Chinese intelligence services to monitor electronic communications throughout the southeastern U.S. where many military bases are located.

L.A. TIMES CUTS NEWSROOM JOBS.   Citing “economic challenges,” the Los Angeles Times plans to cut 74 jobs.  The cuts will eliminate about 13 percent of newsroom positions.

“CHEERS'’ BAR SELLS AT AUCTION.  Remember that famous bar on the TV show “Cheers” where people got their drinks?  It sells for $675,000 at an auction.  It was among items at an Dallas auction of items from classic shows.

U.K.’S DAILY TELEGRAPH UP FOR SALE.  The Daily Telegraph, the 150-year-old British newspaper, is up for sale after its parent company entered a form of insolvency proceedings.

HOW DOGS CAN LIVE LONGER.  A survey and data collection effort involving more than 21,000 dog owners finds dogs live longer and happier lives when they get to socialize often with other dogs.

‘GHOST PAPERS’ POPPING UP AROUND COUNTRY

A new term in journalism is “ghost papers,” points out Grumpy Editor.

More "ghost papers" are appearing around the country.  That’s where there is no publisher or editor and a newsroom with only one reporter remaining.

In some cases, entire “beats” have disappeared — where no one is covering the news.

What happens to these journalists and to the communities they serve? 

In some cases a news desert remains.  In others, competing media companies are stepping in to fill the void.

 

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GANNETT JOURNALISTS IN WORK STOPPAGES TODAY.  Hundreds of Gannett journalists are staging a series of work stoppages starting today in protest of lengthy contract negotiations and leadership.  Most walkouts will be lasting a day.

NEAR NORMAL HURRICANE SEASON.  A “near normal” Atlantic hurricane season is predicted over the next six months by NOAA forecasters with 12 to 17 large storms expected to become hurricanes.

3.66 MILLION BABIES ADDED IN U.S. LAST YEAR.  About 3.66 million babies were born in the U.S. last year, about unchanged from 2021 but 15 percent below the peak reached in 2007.

U.S. GROWS OLDER FASTER.  Share of U.S. residents 65 or older grows by more than a third from 2010 to 2020 — and at the fastest rate of any decade in 130 years.

14-YEAR OLD BECOMES SPELLING CHAMPION.  Dev Shah, a 14-year-old from Largo in Florida’s Tampa Bay area, becomes the National Spelling Bee champion with the word psammophile.

MARINE GENERAL’S REMAINS RETURN TO U.S.  Remains of Major Gen. Harry Kleinbeck Pickett who fought in World War I and World War II during his 33 years in the Marine Corps are returned to the U.S. nearly 60 years after he died in India.  Pickett was a recipient of the Legion of Merit award for his actions during the attack on Pearl Harbor.

PAYROLLS RISE IN MAY.  Payrolls rose 339,000 in May, better than expected in resilient labor market.  Nonfarm payrolls were expected to increase by 190,000 in May.