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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
Wishing you a healthy and happy Thanksgiving! This is the last 10-point of the week. We will resume on Monday.
Dogfight Over Syria
The fallout after Turkey destroyed a Russian warplane it had warned away from its airspace yesterday threatens to destroy chances for any grand coalition of international powers to change the course of chaos in Syria, at least for now. While the U.S. and its ally France dug in on their demands on resolving the Syrian conflict, Russia and its ally Iran adhered to theirs. The demands made by the U.S. and French leaders—including the key issue of the future of Syrian President Bashar al-Assad, whom Russia supports—have now set the stage for a tense meeting between French President François Hollande and Russian President Vladimir Putin scheduled for tomorrow.
On the Factory Floor
For many countries, the well-worn path to development has turned rocky. The U.S. and Europe—and East Asia more recently—first got rich because of their factories. But today parts of South Asia, Africa and Latin America are failing to create thriving manufacturing sectors even though their wages remain low. Manufacturing employment and output are peaking and declining at vastly lower levels of income and development than they did in the West. Having lots of young people working, earning and spending should yield a demographic boost that turbocharges growth for decades. But it can turn into a disaster if jobs don’t materialize. In case you missed it, here’s our look at how the world is scrambling for alternatives in light of China’s dwindling workforce. And don’t miss more stories in this multimedia series in the coming days.
Easy Target
Regulators calculated that they could secure a settlement on discrimination claims by going after Ally Financial because it needed to clinch restructuring approval. That is the conclusion of a report, based on internal documents and emails written by the staff of the Consumer Financial Protection Bureau, released yesterday by congressional Republicans who have long criticized the discrimination probe. In essence, “settlement of the Bureau’s fair lending investigation was a prerequisite for Ally’s status change,” the report said. Proponents say the CFPB has shed light on questionable industry practices previously unknown to the public and succeeded in reaching settlements worth more than $200 million.
Tis the Season
Family rituals take on a life of their own: You do things because you always have. However, traditions also come to an end, sometimes abruptly, sometimes gradually, as people drift apart. How do you know when the time has come for a ritual to cease? Check out this account by an extended family who gathers one last time in Mississippi on Thanksgiving after deciding to put their family farm up for sale. Meanwhile, the biggest shopping day of the year is just around the corner. We’ve made a list of gadgets we’d actually buy for our loved ones—or even ourselves. Check out our guide to this year’s best tech gifts.
TODAY'S VIDEO
Same-Day Delivery Startups Invade Thanksgiving
That Was Painless
On-demand delivery startups such as Instacart and Saucey are hoping to change holiday shopping habits with a promise to deliver anything from butter to whiskey, the same day you order it.
TOP STORIES
U.S.

Chicago Officials Urge Calm as Police-Shooting Video Is Released

Congested Holiday Travel Expected at U.S. Airports Amid Tight Security
WORLD

Manhunt Expands to Include New Suspected Accomplice in Paris Attacks

In Africa, a Booming Catholic Church, and its Growing Pains, to Greet Pope Francis
BUSINESS

Albertsons to Buy Back 33 Stores It Sold as Part of Merger With Safeway

HP Inc. Gives Weak Earnings Forecasts
MARKETS

Swiss Bank Data Thief: ‘I’d Do It Again’

At Skadden, Tax Law Isn’t So Boring as Inversions Raise the Stakes
NUMBER OF THE DAY
$55.9 billion
The net U.S. farm income this year, the lowest level in more than a decade, reflecting depressed crop prices and softening dairy and hog markets, federal forecasters said yesterday.
QUOTE OF THE DAY
It has come to my attention that the practice has gone beyond all reasonable bounds and now most likely constitutes fraud.
A U.S. Takata engineer, Bob Schubert, on how Takata was “prettying up” data in a way described as “the way we do business in Japan,” according to an undated draft of a memo to another employee.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the downed Russian jet? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
Responding to yesterday’s question about Pfizer’s deal to take advantage of a lower tax rate abroad, John Wolcott of Connecticut wrote, “Secretary Lew and his ilk obviously believe that every cent of whatever Pfizer earns belongs to the government except for what the government might allow Pfizer to keep—at least for a while. However, like state taxpayers, corporations have an inalienable right in a free society to vote with their feet, and governments have an obligation to smell the coffee or face the consequences.” Also from Connecticut, Daniel Souza commented, “By acquiring Allergen, Pfizer management is simply fulfilling its obligation to increase profits for shareholders within the bounds of the law and ethics. Government attempts to thwart this and other so-called inversion deals, on the other hand, show how far it has departed from its responsibility to ensure American companies operate in a globally competitive tax environment. Companies pursue profits as naturally as fish take to water, and government’s job is ensure the river doesn’t run dry when they get there.” And Scott N. Ledbetter of Georgia observed, “Only the most thick-headed left-wing ideologue cannot understand that the country’s corporate tax code must be competitive to retain and, even more importantly, attract companies basing themselves in the U.S. Imagine how much more economic activity would come to this country, how many more good jobs we would have and how much more tax revenue would be generated if we were competitive with Ireland instead of having the highest corporate tax rate among all developed countries.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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