Democrat and Chronicle from Rochester, New York on October 19, 2015 · Page B4
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October 19, 2015

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Democrat and Chronicle from Rochester, New York · Page B4

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Rochester, New York
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Monday, October 19, 2015
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Page B4
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4B E3 USA TODAY—DEMOCRATANDCHRONICLE MONDAY,OCTOBER19,2015 USA SNAPSHOTS © Fridge war 32% of workers agree that they have to hide food in the office fridge so co-workers don’t steal it. Source Peapod.com survey of 1,009 full-time o!ce workers JAE YANG AND PAUL TRAP, USA TODAY INDEXCLOSECHG Dow Jones industrials 1 7,215.97 x 7 4.22 D ow for the week x 131.48 Nasdaq composite 4 886.69 x 1 6.59 S &P 5002033.11 x 9.25 T-bond, 30-year yield 2 .88% x 0 .01 T-note, 10-year yield2.04% x 0.02 Gold, oz. Comex $ 1183.60 y 4 .30 Oil, light sweet crude$47.26 x 0.88 Euro (dollars per euro) $ 1.1376 y 0 .0007 Y en per dollar119.37 x 0.59 SOURCES USA TODAYRESEARCH, MARKETWATCH.COM FRIDAY M ARKETS NEWS MONEY AUTOS TRAVEL SPORTS LIFE The 41-year old anchor of ABC’s World News Tonight spent asemester in Salamanca, Spain, as a college student, and a rusty bit of the language was still rattling around in his head. But bei ng able to make small talk in the p ope’s native tongue more pro fi - ciently, Muir figured, might trigger clarity about the man who h ad never before given an inter- v iew to a U.S. TV network. G ood thing, too. The pope wasn’t about to conduct an interview without a quick measure of the man. “We’re inside the Vatican walls and they send me outside to this courtyard and tell me the pope is going to emerge any second,” Muir says in his Manhattan o ce. “About 20 minutes g o by, and the door opens. Instead of the pope, I get one hand that w aves me in. So I walk through the door and standing behind the door was Pope Francis. He simply wanted to meet me before we get in front of all these cameras.” Muir’s first words: “ Su sancti- dad. Es un honor concerlo .” (Your H oliness. It’s an honor to meet you.) Muir’s preparation for the in- t erview — a coup for the network ahead of the pope’s visit in Sept ember — is characteristic of the ardor with which he approaches h is job, colleagues and current and former bosses say. The newsman was named anchor of World News Tonight a year ago, slipping into the chair o ccupied by Peter Jennings, Diane Sawyer and Frank Reyn olds. And the show, colleagues and bosses say, has shifted to re- fl ect Muir’s restless pace. “He’s the epitome of what a m odern anchor needs to be,” says James Goldston, president of ABC News, who appointed Muir to the job. “He’s happy shooting on his little camera or cellphone.” The Syracuse native was clearly groomed for the job, anchoring on weekends and racking up frequent- fl ier miles around the g lobe. But his appointment also s peaks volumes about ABC b osses’ desire to reinvigorate the p rogram, attract younger viewers a nd increase its audience through s ocial media and compelling video — an approach that may appeal to fast-churn audiences but a larm traditionalists. World News Tonight has gained about 500,000 viewers since Muir’s arrival. But it still trails perennial leader NBC News, even as NBC introduced a new anchor, Lester Holt, in July after Brian Williams was suspended for lying about his role in news events. “I’d be lying if I didn’t acknowl- edge that I feel personally some of that pressure,” Muir says. “But this is the most competitive even ing news race in a decade, and i t’s upping everyone’s game.” Like Jennings, Muir had an in- t erest in TV journalism that was s parked early. As a kid, he watched local news religiously and liked to play reporter, interviewing his sister’s friends. He wrote to local TV stations, and CBS a liate WTVH gave him an internship after he turned 13. Muir was hired by the station before he graduated from Ithaca College.After five years there, WCVB in Boston hired him as weekend anchor. Candy Altman, v ice president at Hearst Television who hired Muir at WCVB, recalls reviewing piles of tapes but not being satisfied with the candidates. Muir’s tape caught her eye because it “didn’t look like it was prepared by an agent.” His ambition was evident early on. He was a “go-getter,” Altman says. His work covering the wars in Iraq and Afghanistan — Muir reported from Doha, Qatar — was noticed by ABC network o cials. ABC hired him in August 2003, a nd he soon became one of most h ighly traveled correspondents, reporting from New Orleans during Katrina, Mogadishu, Fukushi- m a, Tahrir Square in Egypt. M uir’s ascent at ABC News has r aised some eyebrows among media critics. “The reductio ad absurdum of the good-looking white-male anchor is David Muir,” wrote media critic Frank Rich in a New York magazine piecethat lamented the decline of network evening news. More broadly, ABC News’ q uickened style also feeds into traditionalists’ fears that network e vening newscasts — the profession’s standard bearer — are, as a group, taking a video- and social- media-centric turn that softens the definition of news. Muir sco s at such criticism, citing his reports from the Hung arian border covering Syrian refugees and the work of colleagues in Damascus. “You’d be h ard-pressed to tell them what they’re doing is soft news,” he s ays. “I think it’s easy for people to say that because they are not t he ones out there putting their lives in danger.” PHOTOS BY TODD PLITT, USA TODAY David Muir, 41, enters his second year in the World News Tonight anchor’s chair. MUIR ANCHORS A NEW ERA AT ABC NEWS Newsman takes the n etwork in a digital direction Roger Yu l USA TODAY NEWYORK E arlier this year, David Muir s pent weeks studying Spanish to prepare for his interview with Pope Francis in August, sitting down w ith a tutor several hours a week and practicing the language while strolling the streets of Manhattan. MEDIA David Muir anchored on weekends and reported from around the world before becoming lead anchor in September 2014. S tandard & Poor’s 500 was down more than 12% from its May peak and the Dow Jones industrial was staring at a nearly 15% correction, there was talk of a looming bear market. But the stock market’s ability to stay above its scary summer lows and subsequent 8.9% rally o its 2015 trough now has investors viewing the outlook for the stock market in a more positive light. “What makes (the year-end rally) happen,” says Stoltzfus, is the belief that “2016 will be a less harsh year.” Adding to the bullishness: Many of the headwinds that sparked the U.S. stock market’s biggest swoon since 2011 are no longer weighing down, says Don Luskin, chief investment o cer at TrendMacro. “The big August correction was caused by the strong dollar, collapsing oil prices, a scary slowdown in China and a Fed that seemed determined to hike rates despite it all,” says Luskin. “Every risk factor driving the big correction has reversed.” Wall Street now doesn’t see an interest rate hike from the Federal Reserve until March 2016, as inflation has yet to show any signs of overheating at a time when recent economic data has come in a tad weak. Also giving investors courage to buy stocks is the fact that the triggers such as overvaluation and signs of recession that normally cause bear markets, or market declines of 20% or more, are not visible, says Saira Malik, head of global portfolio management at TIAA-CREF. Stocks are also entering a seasonally strong time of the year. The market could also benefit from a high level of investor pessimism and very low expectations for third-quarter earnings, which could make it easier for companies to top forecasts. Thorne Perkin, president of Papamarkou Wellner Asset Management,ticks o more reasons why stocks will grind higher through year-end. The market, he argues, has “already had a significant correction,” with the average stock su ering declines of 15% to 20%. The market’s nosedive, he adds, has brought price-to-earnings ratios back in line with historical averages. “The S&P 500’s long-term P-E is around 15, and the market now is around 16 times, which is perfectly fine,” Perkin says. Wall Street builds case for year-end stock rally Reasons behind the market’s correction seem to have ‘reversed’ Adam Shell USA TODAY ANDREW BURTON,GETTY IMAGES Atrader works on the floor of the New York Stock Exchange on Oct. 14 after bad news from Walmart pushed down the Dow. Age: 41 Hometown: Syracuse, N.Y. Most recent books read: ‘Tenth of December,’ ‘The Flamethrowers’ F avorite movies: ‘The Lives of Others,’ ‘Life Is Beautiful, ’ ‘Munich’ Most interesting interview: Pope Francis to wn hall M ost memorable single story as a journalist: “The Last Ten Miles,” reporting on the journey of mother s carrying their children during the famine in Somalia Hobbies: Home restoration, food, reading, movies, working out THE MUIR FILE “This is the most competitive e vening news race in a decade, and it’s upping everyone’s game.” David Muir JURY TELLS APPLE TO PAY $234 MILLION IN PATENT SUIT A federal jury has or der ed Apple to pay $234 million for infringing on the University of Wisconsin-Madison’s technology patents. The Wisconsin Alumni Research Foundation (WARF) filed the case last year claiming that Apple used performance- improving processing technology that the foundation had patented itself in 1998. The jury ruled that the technology is used in Apple’s A7, A8 and A8X chips that are found in Apple products including the iPhone 6 Plus, iPhone 6 and iPhone 5s and several versions of the iPad. Apple declined to comment on the decision but will appeal, Apple spok esw oman Rachel W olf T ulle y said. CABLEVISION, VIA COM RESOL VE ANTITRUST CASE Cablevision and Viacom hav e resolv ed an antitrust lawsuit that the cable and broadband provider filed against the content company three years ago. Details of the settlement were not disclosed, but the companies said they are entering into “mutually beneficial business arrangements,” they said in a statement. GM ADDS SOME 2015 MODELS TO MASSIVE AIRBAG RECALL Add another several hundred vehicles to the more than 23 million inv olv ed in the T ak ata air bag defect recall. General Motors is recalling 395 certain 2015 Buick LaCrosse, Cadillac XTS, Chevrolet Camaro, Equinox, Malibu and GMC Terrain vehicles. The vehicles have front seat-mounted side-impact air bags that may rupture when deployed, causing possible serious injury or death, the National Highway T r affic Safety Administr ation says. APPLE MONEYLINE After the stock market’s first 10% drop in four years in late summer and fall rebound that followed, a growing number of Wall Street pros are making the case for a year-end rally. “The planks for a year-end rally may be falling into place,” says John Stoltzfus, chief investment strategist at Oppenheimer, who thinks the market could make new highs by the end of 2015. Back in late August when the

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