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

The Wall Street Journal
Good morning,
The Art of the Political Deal
The blueprint to Donald Trump’s campaign has been hiding in plain sight all along, say those who know him best. “The Art of the Deal,” the best-selling book he wrote in a quite different context almost three decades ago, lays out many strategies of his unorthodox effort, including ‘know your market’ and ‘fight back.’ We report that Mr. Trump’s presidential run was long in the making. Now the Republican primary race is getting nastier as the remaining candidates compete to take him on alone. One potential bright spot has emerged for Republicans: record turnout. And Super Tuesday results show an intriguing voting pattern as Mr. Trump dominated in economically challenged cities while Hillary Clinton attracted sizable support among Democrats in cities where incomes are relatively high, and unemployment is relatively low.
Energy Pioneer
Aubrey McClendon, an Oklahoma wildcatter who helped pioneer the shale energy boom, died in a fiery car crash yesterday, a day after he was indicted by a federal grand jury on charges of conspiring to rig the price of oil and gas leases. Mr. McClendon propelled the rebirth of U.S. energy production as the co-founder of Chesapeake Energy, leading a rush to lease land around the country for fracking. Oklahoma City police said he was found dead after driving into a concrete wall around 9 a.m. at a speed well above the 40-mph limit for the area. Authorities were trying to determine whether the crash was the cause of death, or whether a health problem had figured in the accident. Reactions to Mr. McClendon’s death came from around the business world.
The Big Long
Some traders go short. Paul Singer went really, really long. Mr. Singer’s nearly 15-year-old wager on Argentine government bonds has yielded $2.4 billion, a gain of roughly 10 to 15 times its original investment, thanks to a settlement this week in one of the most drawn-out and contentious bond-market sagas ever. Mr. Singer’s Elliott Management began the investment in the early days of George W. Bush’s first term, when a portfolio manager named Jay Newman was looking for an angle on Argentine debt. After the country defaulted in 2001, Mr. Newman resisted the government’s pressure to exchange the bonds for new ones valued at just 30 cents on the dollar. Now Argentina has agreed in principle to pay $4.65 billion to Elliott and three other hedge funds to settle their claims on the country’s defaulted debt.
Slow Joe
How long would you wait for the perfect cup of coffee? Once about speed—sloshed into a paper cup and gulped on the ride to work—quick coffee now signals cheap coffee. More coffee shops are betting that customers appreciate a wait of four minutes or more. One benefit of slower-brewed coffee is that the coffee vendor has more control over the process and, as a result, taste. Consumers in their 20s and 30s who grew up around Starbucks and coffee culture’s bolder flavors are helping drive the slower service, as coffee shops weigh costs and revenues of slowing down. Meanwhile, if you like waiting but not coffee, just head to the airport: Huge lines at some airport security checkpoints are creating fear of a summer travel meltdown.
TODAY'S VIDEO
Banker Finds Homes for Puerto Rico’s Stray Dogs
That Was Painless
Every few months, Citigroup banker David Brownstein, one of the executives charged with helping Puerto Rico through its fiscal emergency, and his team fly dozens of stray dogs from the U.S. commonwealth to rescue operations in the Hamptons and the Jersey Shore.
TOP STORIES
U.S.

‘Too Big to Fail’ Critics Go Too Far on Banks

Deeply Divided Supreme Court Wrestles with Texas Abortion Case
WORLD

New Migrant Crisis Flares in Greece

U.N. Adopts New Sanctions Against North Korea
BUSINESS

U.S. Airlines Bid for New Scheduled Routes to Cuba

Insurers Probed on Hepatitis C Drug Coverage
MARKETS

Washington Battles Over Munis: Safe or Hard to Sell?

Goldman Likely to Drop Bid on Russian Bond Deal Following U.S. Pressure, Sources Say
NUMBER OF THE DAY
$1 billion
The amount Sports Authority’s lenders are owed. Creditors are giving the company until the end of April to find a buyer. See our list of stores earmarked for closure or sale.
QUOTE OF THE DAY
Instead of using the parks for enjoyment like we used to, they are either planted with vegetables or with martyrs now.
Mosaab Khalaf, an agricultural engineer on the rebel-held side of Aleppo, Syria, lacking confidence in international peace efforts after five years of war, is preparing for the worst in case the Assad regime succeeds in laying another siege.
TODAY'S QUESTION
What are your thoughts on the current situation in Aleppo? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s question on the Super Tuesday results, Thatcher A. Stone of Virginia wrote: “Donald Trump’s news conference style speech and question session Tuesday night showed the most presidential demeanor he’s given to a public appearance since he began his campaign.” Balthazar Bergkamp of New York commented: “For the GOP, Super Tuesday made one thing very clear: to counter Trump, votes for ‘establishment’ candidates will need to be consolidated. I suggest Carson, Kasich, and Cruz suspend their campaigns.” And John P. Donchess of Ohio added: “It is time for John Kasich to set his ego aside, suspend his campaign and align himself with either Marco Rubio or Ted Cruz. Better that he helps defeat Trump in Ohio.” But Chaim Kalish of Israel weighed in: “The best way to beat Trump is for Kasich, Cruz, and Rubio to remain in the race until the convention. They’ll then be able to pool their delegates and block Trump from getting the nomination in a brokered convention. This will especially hold true if Kasich and Rubio can win their home states.”
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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