Stuff YOU Should Know
More on Amazon Vs. Hachette
In the last edition of Stuff You Should Know, btw brought you news of a dispute between the online retailer Amazon.com and book publisher Hachette. In a follow-up, Amazon, who had said very little in initial reports, have now spoken up. In an interview with The Wall Street Journal, Senior Vice President Russ Grandinetti defended his company’s actions by saying they were acting in the future best interest of Amazon.com’s customers. Another spokesperson for the online retailer said its focus has always been on benefiting authors and readers, with the added apology that it regretted the negative impact of this infrequent dispute.
The main arguing point is over the pricing of e-books. Some of the Hachette authors who are being affected by the action are speaking out in a soon-to-be-released open letter that criticizes Amazon’s handling of negotiations. These authors’ complaints include the retailer’s refusal to accept pre-orders (which have a significant influence over whether a book makes it onto the best-seller list), and what they believe are unnecessary delays in delivery. Industry experts predict that the outcome of the negotiation with Hachette will have an unquestionable affect on future contracts.
What Do You Think? Do you purchase items on Amazon.com? If so, are there actions by the company that would make you stop? Why or why not?
Tensions Escalate Along Gaza Border
Last month, three Israeli teenagers–Naftali Fraenkel, Giliad Shaer and Eyal Yifrah–were abducted on their way home from school. After a two-week investigation and search conducted by the Israel Security Agency, the bodies of the boys were found and two suspects arrested. The suspected men are linked to Hamas, a militant Islamist group that controls Gaza, a region in the Middle East that borders Israel and Egypt. In response, seventeen year-old Palestinian Mohammed Abu Khdair was abducted and killed. In counter-response, the Israeli army has enacted Operation Protective Edge, airstrikes aimed at the Gaza Strip. Reactive military action from both sides is expected to continue.
The Israel and Palestine conflict goes back to biblical times. Three major religions–Judaism, Islam, and Christianity–all have strong historical ties to the stretch of land (only a few hundred miles in size) that runs on the western edge of the Middle East. After a long history of rule by various empires and governments, the Gaza area is currently controlled by the Muslims but is surrounded by the Jewish state of Israel. The inhabitants of Gaza and Israel have been engaged in various levels of escalating conflict for many, many decades. In the last several days, missile strikes from the inhabitants of Gaza have flown into Israel. The Israeli army has retailiated with their own missile attacks back into the Gaza area.
Dig Deeper Representatives from both sides say that the fighting must stop. See if you can find evidence of any reasonably proposed solution.
Dow Jones Hits All Time High
Ingram Publishing
On July 3, the Dow Jones Industrial Average (DJIA), an investment tool made up of 30 of the most significant stocks traded on Wall Street, closed at a record high of 17,068. Economists say the reasons are due to heightened investor confidence, caused by a combination of a good Jobs Report in June, increased merger and acquisition activity among companies, and other positive economic news. Another reason investors are putting more money into stocks lately is because the recent “extraordinary measures” of the Federal Reserve (the central bank of the United States) to keep interest rates low. This action was put in place to encourage banks to lend money in order to stimulate the economy.
Analysts say we are in a “bull market.” This is characterized by low unemployment, consumer spending and an increase in business profits, which drives investors to buy more stock. Conversely, a “bear market” is characterized by a sharp drop in stock prices, which is caused by lowered business profits, cautious consumers and high unemployment. Some experts warn that the recent trend is mostly a result of companies cutting costs and outsourcing and not through sales. Others believe the stability is a result of federal government initiatives implemented in recent years.
What Do You Think? Do you think the country is likely to stay in a bull market or slide back into a bear market? Find at least one expert on each side of the debate to support your answer.
Ramadan Begins for this Year
While Americans spend this time of year celebrating the anniversary of our independence, Muslims all over the world are preparing for Ramadan. This month-long observance calls for inner reflection, self-control and devotion to God. Ramadan is observed during the ninth month of the Islamic calendar. Because it is 11 to 12 days shorter than our yearly calendar (called the Gregorian calendar) the date changes from year to year. This year, Ramadan takes place between sundown on June 28 and sundown July 28.
There are many traditions associated with Ramadan. Perhaps the most known is the practice of fasting between dawn and dusk, with a pre-dawn meal in the morning and another after the sun goes down in the evening. Special foods are often prepared. This practice serves to bring participants closer to his or her spiritual nature by removing the preoccupation with bodily appetites. In addition, Muslims are encouraged to read the entire Quran, the sacred text of Islam, give to charity and perform good deeds.