Thursday, August 11, 2011

Thursday Must Read: Cops Have One Man in Custody in Murder of 3-year-old; Stock Market Surges on Positive Jobs Report

By Robert Gammon
Thu, Aug 11, 2011 at 10:12 AM

Stories you shouldn’t miss:

1. Oakland Police Chief Anthony Batts says that one man is in custody in the case of the 3-year-old who was murdered in broad-daylight on Monday, the Trib reports. Batts also said that police have uncovered “key evidence” in the case. OPD spokeswoman Holly Joshi said that numerous witnesses have come forward with information. People are so outraged at the murder of a 3-year-old that the longstanding practice in Oakland of witnesses not talking to police has been set aside, at least for now. The child was shot dead when members of one gang sprayed bullets at members of a rival gang on International Boulevard in East Oakland.

  • Batts

Cops had detained two men in the East Bay city of Pittsburg on Tuesday, but have since only linked one of the men to the child’s murder.

2. One of the craziest weeks in Wall Street history continued this morning, as stocks shot up again, following a better-than-expected jobs report, and rebounded once more from another miserable day yesterday, The New York Times reports. As of 10 a.m. Pacific, the Dow Jones average was up more than 370 points, after another massive drop yesterday, which several analysts attributed to the banking crisis in Europe.

3. Community activists in Oakland protested the mortgage and foreclosure practices of Wells Fargo yesterday, contending that the giant bank is refusing to help keep people in their homes and is not paying the City of Oakland fines it owes for failing to maintain foreclosed and blighted properties, the Trib reports. The activists and faith leaders from the influential grassroots group Oakland Community Organizations also called out Bank of America, JP Morgan Chase, and Citigroup for similar reasons. A Wells Fargo official claimed that OCO was misinformed.

4.Several top-ranking state lawmakers are strongly questioning a plan being pushed by textbook publishers to start charging community college students for online classes, the Chron reports. State Senate President Pro Tem Darrell Steinberg noted that a community college task force that is recommending the online-fee proposal was heavily weighted with textbook publishing officials whose companies stand to profit greatly by it.

5. SunPower of Richmond is partnering with Ford to offer steeply discounted rooftop solar installations to people who buy the auto company’s new electric vehicle — the Focus — when it goes on sale later this year, the Chron and Merc report. Focus buyers will be able to purchase a rooftop 2.5 kilowatt solar system for their homes for about $10,000 after rebates. Such systems typically cost about seventeen grand.

6. And Apple ended the day yesterday as the most valuable company in the world, surpassing Exxon Mobile, AP reports. Apple had briefly moved past Exxon on Tuesday but then fell behind at the closing bell. On Wednesday the iPhone maker ended the day ahead of the oil giant.

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