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

The Wall Street Journal
Good morning,
One Plus One Equals Three
Dow and DuPont are on the verge of consummating a deal that would reshape the chemical and agricultural industries by creating a new massive company that would quickly be spun into three entities. Today we tell the story of how two of America’s oldest and most storied companies fell into each other’s arms. After previous failed attempts at a merger, an opportunity to strike a deal came when Edward Breen stepped in to run DuPont in October. Andrew Liveris, longtime head of Dow Chemical, approached Mr. Breen immediately, not even leaving him a chance to find the bathrooms at his new company. Still, a deal isn’t certain. The planned combination would likely draw complaints from some farmers and other customers wary of market concentration, as well as a detailed and lengthy review by government antitrust enforcers.
Trail of Terror
Federal investigators are probing whether one of the shooters in the San Bernardino assault had planned a previous attack in 2012 with a friend, then abandoned the plot when unrelated counterterrorism arrests were made in the area. FBI Director James Comey said the case reflects how effective Islamic State can be in motivating would-be terrorists to attack Americans, and added it is getting increasingly difficult to spot such radicalization before an attack. Meanwhile, the massacre has reignited a debate within U.S. Muslim communities over how, if at all, they need to change to address terrorism. Some say mosques should do more to counter extremism, while others argue that they regularly condemn violence, to no avail.
Southern Cruz
As Sen. Ted Cruz of Texas rises to the top tier of the Republican presidential primary field in Iowa, he is banking on the South—the states where his antigovernment, evangelical conservative message plays well. Lately, momentum has been on his side. For the first time yesterday, Mr. Cruz moved up to second place behind Donald Trump in the average of national polls by the Real Clear Politics website. Meanwhile, Hillary Clinton is proposing a bunch of policy ideas for Congress to consider if she is elected president, and already promising to go around lawmakers if they won’t work with her.
Don’t Book Tomorrow
What is the worst day to buy a plane ticket? Our Middle Seat columnist Scott McCartney finds that prices creep up on Fridays as fare sales typically expire before then. Many airlines launch their price hikes at the end of the week to see whether competitors all match over the weekend. Also, the inventory of available cheap seats sells down during the week before replenishment over the weekend or early in the following week. Scott also examines how far in advance you need to buy a flight for the lowest average price. Read his column for more details.
Norovirus Confirmed in Chipotle Outbreak
That Was Painless
Chipotle has announced plans to bolster its food safety measures after health officials confirmed the presence of norovirus among Boston College students who reported becoming ill after eating at a single restaurant.

Planned Parenthood Shooting Suspect Tells Courtroom ‘I’m Guilty’

Alaska Governor Calls for State’s First Income Tax in Nearly Four Decades

Behind Angela Merkel’s Open Door for Migrants

Iraqi Forces Repel Islamic State Counterattacks in Ramadi

Yahoo’s Course Is Less Certain

Auto Makers Losing Battle for Dashboard Apps

Terrorist Attacks Stall Fed’s Shipments of Dollars to the Gulf

Looking for an Oil Play? Try the Permian Basin
120.8 million
The number of adults in middle-income households in early 2015, compared with 121.3 million in lower- and upper-income households combined, according to a Pew Research Center report released yesterday. It is the first year since the nonpartisan research entity began tracking this data around 1970 that the latter surpassed the former.
I’m opposed to this proposal because I believe it will undermine that collaboration and lead to less reporting of terrorist activity, not more.
Sen. Ron Wyden (D., Ore.) on legislation that would require social-media companies to report online terrorist activity.
Going back to our story above, what are your thoughts on Sen. Cruz’s chances of winning the nomination? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Khadeeja Safdar
On yesterday’s question about drug pricing, Michael Lane of Florida observed, “Really not much different from many industries. Seldom is price based solely on cost. Market factors such as acceptability for a purpose, competing products and price-influenced demand are more important to price-setting than just the cost to bring it to market. Finally, if the price generates a profit then it provides resources for the next product and a reward for those willing to take the risk.” And Jennifer Guy of Ohio wrote, “Drug pricing is just one example of how pricing of all health care in this country is ludicrous. This dates, in large part, to the implementation of Medicare in 1965, when the government for 20 years told all providers, ‘Tell us what it costs and we will pay you an additional %.’ Relative to drug pricing, a great Ph.D. thesis could analyze the true costs of drug development, costs of government mandates from the development process through the approval process (including the user fees the drug company pays the FDA to review their drugs in addition to the taxes they pay), manufacturing mandates, and the costs shifted to U.S. consumers from other countries due to their price controls. As a longtime cancer care provider and administrator and free-enterprise proponent, it saddens me to see the vast progress made in controlling cancer, in part with pharmaceuticals, and have it be cost-prohibitive. Let’s find out the real costs and go from there.”
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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