Morning Headlines - Thursday, Mar. 14, 2024

U.S. and World Headlines

Wall Street Braces For Commercial Real Estate Timebomb

Remarks last week by Federal Reserve Chair Jerome Powell about a spate of coming bank failures related to the faltering commercial real estate sector have sent shockwaves through the financial world, leading some investors to run for cover and others to look for opportunities.

With the typical U.S. commercial lease ranging from three to five years, the clock is ticking for office and retail property owners and their creditors in the financial sector as remote work has taken off and prompted changes in urban land use.

House Passes Bill That Could Ban TikTok

The House voted with bipartisan, overwhelming fashion on Wednesday to pass a bill that could lead to a nationwide ban against TikTok, a major challenge to one of the world’s most popular social media apps.

The bill would prohibit TikTok from US app stores unless the social media platform — used by roughly 170 million Americans — is spun off from its Chinese parent company, ByteDance. It’s not yet clear what the future of the bill will be in the Senate. The House vote was 352 to 65, with 50 Democrats and 15 Republicans voting in opposition.

Trump Team To Make Two Arguments In Court To Get Classified Documents Case Dismissed

Former President Donald Trump's lawyers will be trying to convince a federal judge in Florida Thursday to dismiss special counsel Jack Smith's classified documents case against him.

Judge Aileen Cannon is set to hear arguments on two motions filed by Trump, one that says the former president is shielded from prosecution by a federal recordkeeping law, and another that claims one of the charges presents numerous open legal questions.

Stacked On The Launchpad, SpaceX Readies The Third Test Launch Of Its Massive Starship Rocket

SpaceX's next-generation mega rocket is set to launch on a key test flight Thursday morning in a bid to demonstrate new technologies and techniques that will be crucial on future missions to the moon and beyond.

The upcoming launch will be the rocket’s third and most ambitious test flight, according to SpaceX. The event will be closely watched because the nearly 400-foot-tall booster, known as Starship, is expected to play an important part in NASA’s return-to-the-moon program.

Today Is Pi Day

Pi Day is on March 14, and any day that combines fun, education, and pie is a day worth celebrating! Pi, also known by the Greek letter “π,” is a constant value used in math that represents the ratio of a circumference of a circle to its diameter, which is just about 3.14….15…9265359… (and so on). Not only that, but the fourteenth of March is also Albert Einstein’s birthday, so all together it’s nothing short of a mathematician’s delight.

Wisconsin Headlines

Biden Announces Billions In Infrastructure Funding In Campaign Visit To Wisconsin

President Joe Biden is getting to be a familiar face around the Great Lakes — and with a November rematch against Donald Trump looming, that’s no accident.

He started a two-day swing through Wisconsin and Michigan in Milwaukee on March 13 as he tried to shore up a Democratic “blue wall” and build momentum for his reelection campaign after a fiery State of the Union address last week.

Green Bay Man Indicted For Distributing Child Pornography

Gregory J. Haanstad, United States Attorney for the Eastern District of Wisconsin, announced that on March 12, 2024, a federal grand jury had returned an indictment charging Bryan S. Peterson (age: 45) of Green Bay, Wisconsin, with two counts of distributing child pornography, in violation of Title 18, United States Code, Section 2252A(a)(2)(A).  Peterson was arrested and appeared in federal court today.

If convicted of either count, Peterson would face a mandatory minimum of five years and up to 20 years in federal prison. He also would face a maximum fine of up to $250,000 per count, and a conviction would require him to register as a sex offender under state and federal law.

Grand Jury Returns Two Indictments

A federal grand jury in the Western District of Wisconsin, sitting in Madison, returned the following indictments today. You are advised that a charge is merely an accusation and a person named as defendant in an indictment is presumed innocent unless and until proven guilty.

Mass Family Dollar Closings Affecting Wisconsin Small Town

Nearly 1,000 Family Dollar stores will be closing around the country.

Dollar General, who owns Family Dollar, announced Wednesday that stores will begin closing this year.

One Wisconsin Family Dollar, located on Lincoln Ave. in Fennimore, is set to close in days, on Mar. 23, leaving shoppers in a tough spot.

Wisconsin AG Hints At Broader Abortion Lawsuit If State Supreme Court Agrees To Hear Case

If the Wisconsin Supreme Court agrees to hear a closely-watched abortion lawsuit, Attorney General Josh Kaul says he’ll ask for a ruling on whether a woman’s right to choose is protected by the state constitution.

The pledge by Kaul, made in a petition to the court filed by the state Department of Justice, drew a sharp rebuke from anti-abortion groups, who filed their own legal brief this week calling on justices to reject the argument.

Both filings are connected to a lawsuit Kaul filed in 2022, shortly after the U.S. Supreme Court overturned Roe v. Wade.