News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
The military is warning the U.S. government to prepare for a potential electromagnetic pulse weapon attack, as countries like North Korea, Russia and Iran develop the special arms. The shocking report, published by the Air Force's Air University, reveals that the U.S. is dismally unprepared for such an attack. And it could take 18 months to restore the electricity grid and social order. 'Based on the totality of available data an electromagnetic spectrum attack may be a threat to the United States, Democracy and world order,' the 2018 report says. 'An EMP would cause instantaneous and simultaneous loss of many technologies reliant on electrical power and computer circuit boards, such as cell phones and GPS devices,' the report says. Military and commercial jets would be degraded, bases would be cut off, and power and GPS would go dark. The U.S. would be unable to determine who even launched the attack as they would be deployed via satellite. The attack would dismantle or interfere with electricity, affecting transportation, food processing and healthcare. 'Failures may include long-term loss of electrical power (due to loss of emergency generators), sewage, fresh water, banking, landlines, cellular service, vehicles,' the report says. The report's authors Air Force Maj. David Stuckenberg, former CIA director James Woolsey, and Col. Douglas DeMaio want the government to declare a potential EMP attack as a critical issue.
Note: The military report mentioned above is available here. The article fails to mention that EMP weapons already developed by the US could destroy civilization as we know it. Other countries are clearly a threat, yet the biggest threat is the US military. Explore an ABC News article and declassified documents which reveal that the Pentagon once "drafted plans to kill innocent people and commit acts of terrorism in U.S. cities to create public support for a war against Cuba," as reported in the ABC article.
America’s finest Republicans and Democrats [are] condemning the Crown Prince of Saudi Arabia for murdering Jamal Khashoggi. CIA director Gina Haspel, who was happy to sign off on the torture of her Muslim captives ... knew what she was talking about when she testified about Mohammed bin Salman and the agony of Jamal Khashoggi. A generation ago, the CIA’s “Operation Phoenix” torture and assassination programme in Vietnam went way beyond the imaginations of the Saudi intelligence service. In spook language, Khashoggi was merely “terminated with maximum prejudice”. If the CIA could sign off on mass murder in Vietnam, why shouldn’t an Arab dictator do the same on a far smaller scale? But there is something more than this ... 15 of those 9/11 hijackers were Saudis, that Osama bin Laden was a Saudi, that George W Bush secretly flew bin Laden family members out of the US after 9/11, that the Saudis themselves are heir to a blighted, rural, cruel version of Sunni Islam ... which has inspired the Taliban, al-Qaeda, Isis and all the other killer cults whom we have proclaimed to be the West’s Enemy No 1. Nailing Mohammed Bin Salman to a crucifix – a method of execution favoured by the Wahhabis – is an easy kill for US senators, of course. You hit the president and smash those unhappy historical details all in one fell swoop.
Note: Jamal Khashoggi's uncle was the notorious billionaire arms dealer and decadent playboy Adnan Khashoggi. For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption and assassinations.
Where’s the next video? When was the last incident the NFL didn’t follow up on? What’s going to surface next? Those are the questions the public is asking in the wake of yet another very bad week for the NFL when it comes to the issue of domestic violence by the league’s players. That’s a lousy position in which to put the roughly 1,700 men playing on NFL rosters. The vast majority of them are good citizens who contribute to their community, don’t hit women and don’t commit criminal acts. And it’s an even more distressing situation for victims. The NFL’s approach and the individual teams’ strategies place women who suffer domestic assault in an untenable position. They can be almost assured that nothing will be done, except to have their names and reputations ruined. It’s an effective way to suppress reporting. The endgame, it seems, is not justice or holding perpetrators accountable or keeping communities safe. It is hoping there isn’t video, hoping law enforcement looks the other way, hoping things can be settled quietly, and hoping that accusers go away. In other words, follow the Ben Roethlisberger model: The Pittsburgh quarterback was twice accused of rape, settled one claim out of court and saw the other go away. He is now held up as a great family man and elder statesman. The issue isn’t a problem for just the NFL. But ... the NFL is a multibillion-dollar industry [that] can’t seem to make domestic-violence training, education or investigation a real priority.
Note: For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
The sordid case against Jeffrey E. Epstein, who was accused of paying dozens of underage girls for sexual massages in Florida, appeared to end a decade ago. The wealthy New York financier struck a deal to avoid any federal criminal charges, enraging some of his victims who got no say in the agreement, which they deemed far too lenient. But the victims and their lawyers have continued to fight in civil court, long after Mr. Epstein ... became a free man. Jury selection is scheduled to begin next week in a West Palm Beach, Fla., courtroom for a civil trial that ... could give Mr. Epstein’s victims, who are now adults, a chance to publicly testify about their attempts to win justice after the sexual abuse they endured as children. Mr. Epstein’s accusers could take the witness stand just days after a local investigative report published new details on how Mr. Epstein preyed on young teenage girls — and how prosecutors appeared to buckle to pressure from Mr. Epstein’s high-powered defense lawyers. Not one of Mr. Epstein’s victims was initially informed of the nonprosecution agreement, whose terms called for it to be kept secret. It was not until afterward that victims and their lawyers learned that no federal prosecutions against Mr. Epstein would be initiated. The secret deal prompted two of the victims ... to sue the government, claiming that the agreement had violated the federal Crime Victims’ Rights Act, which grants victims the right to be informed of crucial steps during a prosecution, such as plea negotiations.
Note: Read a collection of major media reports on billionaire Jeffrey Epstein's child sex ring which directly implicate Donald Trump, Bill Clinton, and other world leaders. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
U.S. District Judge Kenneth Marra on Friday sentenced butler Alfredo Rodriguez to 18 months in prison for trying to sell an incriminating piece of evidence against his boss. Mr. Rodriguez was the butler for Jeffrey Epstein, the New York/Palm Beach billionaire who pleaded guilty in 2007 to two sex-related charges after more than a dozen women - many underage - claimed Mr. Epstein sexually abused them. Mr. Rodriguez tried to sell a journal that documented his boss’s sexual exploits and refused to turn it over to investigators when they first asked for it. His aim was to sell it for $50,000 to lawyers representing the women who had filed civil lawsuits against Mr. Epstein. Here is the puzzling part: Mr. Rodriguez may end up spending more time in prison than Mr. Epstein. Judge Marra gave Mr. Rodriguez an 18-month sentence - the same sentence given to Mr. Epstein. Mr. Epstein served only 13 months in prison and was released. Even under house arrest, he is free to leave is Palm Beach, Fla., mansion. The judge conceded that the equal sentences didn’t make much sense. the identical sentences seem like a strange administration of justice given the different crimes. Lesson learned: even if the butler didn’t do it, he still can go to prison for the cover-up.
Note: Epstein's butler feared for his life and ended up dead before he could reveal his secrets. Read a collection of major media reports on billionaire Jeffrey Epstein's child sex ring which directly implicate Donald Trump, Bill Clinton, and other world leaders. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
Alfredo Rodriguez, the butler of convicted sex offender Jeffrey Epstein, has died, and with him the location of a ‘black book’, which allegedly details “the full scope and the extent of Epstein’s involvement with underage girls”, and contact details of the businessman’s celebrity friends. Rodriguez died at the age of 60 after suffering from mesothelioma last week, his widow Patricia Dunn [said]. Dunn alleges that her late husband “knew all about Prince Andrew,” who has been named in the current sex scandal centering on Epstein. Allegations leveled at the Prince are that he was supplied with a teenage girl who was used by Epstein as a “sex slave”. The ‘black book’ that Rodriguez had in his possession [was a] journal in which Epstein is understood to have detailed the girls which attended his properties for “massages” for him and his friends, and details of his celebrity friends and associates who had no connection with alleged offences, including Bill Clinton and Donald Trump. Rodriguez, who stole the book, claimed he needed it as insurance against the businessman to protect his own life. The butler failed to tell prosecutors he possessed the book and later refused to hand it over. He was jailed for 18 months for attempting to sell it for $50,000. In 2011 it emerged that the journal “detailed the full scope and the extent of Epstein’s involvement with underage girls,” according to prosecuting lawyers, who referred to it as “The Holy Grail”.
Note: If the above link fails, this article is available in the Internet Archive. Read a collection of major media reports on billionaire Jeffrey Epstein's child sex ring which directly implicate Donald Trump, Bill Clinton, and other world leaders. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
If a slim, yellow envelope with a Rye, N.Y., return address lands in your mailbox this holiday season, dont throw it out. Its not junk. Some 1,300 such envelopes have been sent to New Yorkers around the state, containing the good news that R.I.P. Medical Debt, a New York-based nonprofit organization, has purchased their medical debt and forgiven it. Last spring, Judith Jones and Carolyn Kenyon, both of Ithaca, N.Y., heard about R.I.P. Medical Debt, which purchases bundles of past-due medical bills and forgives them to help those in need. So the women decided to start a fund-raising campaign of their own to assist people with medical debt in New York. The women raised $12,500 and sent it to the debt-forgiveness charity, which then purchased a portfolio of $1.5 million of medical debts on their behalf, for about half a penny on the dollar. Many people take on extra jobs or hours to afford health care, and 11 percent of Americans have turned to charity for relief from medical debts, according to a 2016 poll. It has become increasingly easy for regular citizens to purchase bundles of past-due medical bills and forgive them because of the efforts of the debt-relief charity, which was founded in 2014 by two former debt collection industry executives, Craig Antico and Jerry Ashton. After realizing the crushing impact medical debts were having on millions of Americans, the men decided to flip their mind-set. They began purchasing portfolios of old debts to clear them as a public service, rather than try to hound the debtors.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The benefits coral reefs provide are endless. Not only are they the home of up to 9 million species but are a source of food, medicine, cosmetics and tourism. Unfortunately, coral reefs around the world are declining at a rapid rate due to ... human-related factors. In some areas of Florida and the Caribbean, coral cover has declined by 50–80 per cent in just the last three decades. Coral scientists are working hard to restore corals as fast as possible. At the Elizabeth Moore International Center for Coral Reef Research & Restoration they have managed to develop a micro-fragmentation and fusion method to speed the growth of ... important reef-building species [of coral], known for their slow growth in the wild. The fragmentation technique consists of breaking the corals into smaller pieces of 1 to 5 polyps, using a specialised saw. This stimulates the coral tissue to grow ... at 25 to 50 times the normal growth rate. The fragments are then placed in their shallow water tanks. Algal growth and debris are removed regularly. Clone fragments recognise each other so instead of fighting each other for resources [they] fuse together to form larger colonies. After 4- 12 months the fully grown corals are now ready to be planted back into the ocean or fragmented to restart the process. Labs are able to fragment, grow and recombine corals in under 2 years to a size which would normally take 100 years. They have now successfully planted more than 20,000 corals onto depleted reefs in the Florida Keys.
Note: Watch an inspiring three-minute video on this process.
[California] Gov. Jerry Brown has issued more than 1,100 pardons and commuted more than 150 sentences since taking office in 2011 - far more than have his recent predecessors. The governor’s intervention creates a new pathway to justice for people serving long prison sentences under some of the nation’s harshest sentencing laws. His action moves California away from the brutality of mass incarceration and toward a renewed focus on rehabilitation and redemption. I know well the power of hope in the darkness behind prison walls. In 2012, I was released after serving 24 years of a life sentence. Now I lead the Hope and Redemption Team, an initiative funded by the California Department of Corrections and Rehabilitation to provide rehabilitative programming inside seven state prisons. Our model is unique. Every member of our full-time staff is a former lifer who has served decades of time and is now a living example of redemption. Success stories rarely make the news, but I see them every day. Graduates of our program and job-readiness training offered by the Anti-Recidivism Coalition have earned their release and built careers in the building and construction trades, prison ministry, higher education, entertainment and tech. Trained in violence prevention, they go into juvenile halls and work with youth to break the cycle of incarceration before it begins. They are contributing to society and making communities stronger and safer - things that prison can never accomplish.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Warrick Dunn has been retired for nine years. It’s interesting that, even though he is one of 31 men to rush for more than 10,000 yards in NFL history. We remember him—at least I do—more for giving away houses than for running for touchdown, in part because he’s still doing it. Even in retirement, Dunn and his Warrick Dunn Charities are still partnering with Habitat for Humanity to build homes for disadvantaged families across the United States. In December, Dunn and Habitat combined to build homes number 158 (in Detroit) and 159 (in Atlanta) and place two families in them before the holidays. Furnished, as Dunn like to say, “all the way down to the toothbrushes in the bathroom.” Recently I was with Dunn when he surprised Texans quarterback Deshaun Watson with a visit, a reminder that Dunn’s generosity made it possible for Watson and his single mom and family to move into a Habitat for Humanity home in Gainesville, Ga., 11 years ago. Watson made it clear that the home meant a new life and a shot at the American dream for his family. “I’ll never be able to thank him, and Habitat, and everyone who made it possible, enough,” Watson said. “I grew up in a situation where we needed a lot of support,” [said Dunn]. “I lost my mom at 18. Single mom, six kids, and a Baton Rouge police officer. She was gunned down by armed robbers at a bank. When she lost her life, the city of Baton Rouge started a fund for us. And that’s how we were able to survive. That really helped me understand what it means to care about your neighbor.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
A flawed design in almost all airplanes is putting flight attendants and pilots at risk, and passengers can unknowingly become victims as well. On July 16, 2018, at 3:43 p.m., Flight 1097 ... made an emergency landing. There were sick passengers on board. “People were being hospitalized,” said an Alaska Airlines flight attendant. We’re calling her Jane to ... protect her from feared retaliation. “The crew felt symptoms of nausea. That is what caused the diversion,” said Jane. Contaminated air leaked into the cabin on that diverted flight and that it wasn’t the first time it had happened. It is what’s known in the industry as a “fume event”. Workers ... are fearful of speaking out. “Anybody who is trying to communicate about these instances, they have been pulled in by the company and threatened with their jobs,” said Jane. The travelling public is, for the most part, unaware that they could be at risk. “[The airlines] have known about it for a long time,” said aviation attorney Mike Danko. “We get about five fume events per day in the U.S.” Danko says toxic cabin air has been a known concern ... going back 50 years. At extremely high temperatures, all oils used in jet engines give off fumes. “The fumes contain ... neurotoxins. Same stuff that is used in nerve gas,” explained Danko. “We have had cases where one pilot was essentially totally incapacitated, and the other pilot although having difficulties managed to land the plane, and that has happened more than a few times, without question,” said Danko.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health.
When a judge acquitted a white St. Louis police officer in September 2017 for fatally shooting a young black man, the city’s police braced for massive protests. But St. Louis Metropolitan Police Department Officer Dustin Boone wasn’t just prepared for the unrest - he was pumped. “It’s gonna get IGNORANT tonight!!” he texted on Sept. 15, 2017, the day of the verdict. “It’s gonna be a lot of fun beating the hell out of these s---heads once the sun goes down and nobody can tell us apart!!!!” Two days later, prosecutors say, that’s exactly what Boone did to one black protester. Boone, 35, and two other officers, Randy Hays, 31, and Christopher Myers, 27, threw a man to the ground and viciously kicked him and beat him with a riot baton, even though he was complying with their instructions. But the three police officers had no idea that the man was a 22-year police veteran working undercover, whom they beat so badly that he couldn’t eat and lost 20 pounds. On Thursday, a federal grand jury indicted the three officers in the assault. They also indicted the men and another officer, Bailey Colletta, 25, for the attack. Prosecutors released text messages showing the officers bragging about assaulting protesters, with Hays even noting that “going rogue does feel good.” To protest leaders, the federal charges are a welcome measure of justice — but also a sign of how far St. Louis still has to go.
Note: If the man beaten had not been a police officer, we would never have heard about this. How often does it happen to other protestors acting peacefully? For more along these lines, see concise summaries of deeply revealing news articles on police corruption and the erosion of civil liberties.
California law enforcement pursued criminal charges against eight anti-fascist activists who were stabbed or beaten at a neo-Nazi rally while failing to prosecute anyone for the knife attacks against them. In addition to the decision not to charge white supremacists or others for stabbings at a far-right rally that left people with critical wounds, police also investigated 100 anti-fascist counter-protesters, recommending more than 500 total criminal charges against them, according to court filings. Meanwhile, for men investigated on the neo-Nazi side of a June 2016 brawl ... police recommended only five mostly minor charges. The documents have raised fresh questions about California police agencies’ handling of rightwing violence and extremism, renewing accusations that law enforcement officials have shielded neo-Nazis from prosecution while aggressively pursuing demonstrators with leftwing and anti-racist political views. The Guardian previously interviewed two victims who were injured, then pursued by police – Cedric O’Bannon, a black journalist and stabbing victim who ultimately was not charged, and Yvette Felarca, a well-known Berkeley activist whose case is moving forward. Previous records also revealed that police had worked with the neo-Nazi groups to target the anti-racist activists. The records disclosed this week provided new details about six other stabbing and beating victims who were treated as suspects by police after the rally ... which was organized by a neo-Nazi group.
Note: For more along these lines, see concise summaries of deeply revealing news articles on police corruption and the erosion of civil liberties.
Human rights activists in Colombia say they are being gunned down by hitmen who can be hired for as little as $100, a top United Nations official said on Monday. A peace deal in Colombia signed two years ago that ended the nation’s half-century civil war has led to a 40 percent decline in the overall murder rate, but killings of activists have risen, Michel Forst, the U.N. special rapporteur on human rights defenders said. According to a July report by British-based campaign group, Global Witness, nearly four land and environmental activists were killed each week last year, in the deadliest year on record, with Latin America faring the worst. “In rural areas ... men and women (human rights) defenders are an easy target for those who see in them or in their human rights agenda an obstacle to their interests,” Forst said in a statement after a 10-day visit to Colombia. Activists working on human rights and land rights, those defending LGBT+ rights and community leaders from Afro-Colombian and indigenous groups, are most at risk, Forst said. “I was really appalled by what I heard from them,” Forst, who met with more than 200 activists across Colombia, told reporters in the capital Bogota. Forst noted that just during his 10-day official visit, four activists had been murdered. Forst said he was also concerned to hear testimonies from Afro-Colombian activists who claimed attacks on them may have directly or indirectly involved foreign companies operating in Colombia, mainly those from the extractive sector.
Note: Read a 2017 New York Times article describing the involvement of high level state agents and corporate executives in the assassination of Honduran activist Berta Cáceres. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.
A decade ago, a billionaire pedophile was able to use his wealth and connections to escape any semblance of a just punishment. The whole system shielded the billionaire from the gravity of his crimes. That its functionaries felt compelled to do so says a lot about our ruling elites. The basic story is this: Jeffrey Epstein is a billionaire financier. He is also a sexual pervert who, until about 12 years ago, preyed serially on teenage children, roughly until they reached the age of consent and became, in his eyes, unattractive. What did authorities do when they found out, back in 2005? They spent a couple of years investigating and drawing up an indictment, then proceeded to quash further investigation, cooperated with Epstein’s lawyers to avoid publicity, violated procedures about plea bargains, made Epstein serve only 13 months in confinement, put him in the county jail rather than state prison ... and concealed most of the terms of the settlement from the public and the victims themselves. Epstein’s enablers weren’t a handful of Palm Beach rogues. Instead, the higher up the chain you went, the more sympathetic to Epstein the players seem to become. Of Epstein’s associates who helped make his crimes possible, none were prosecuted, save one. That was a butler who tried to turn over a so-called “black book” documenting names and dates of Epstein’s escapades to a lawyer for the victims in exchange for $50,000. For this, the butler wound up serving an 18-month sentence, longer than that of his boss.
Note: Epstein's butler feared for his life and ended up dead before he could reveal his secrets. Both Trump and Bill Clinton were good friends of Epstein, as described in this revealing article from Miami's leading newspaper. Learn about how the Miami Herald broke this vitally important story in this article. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
Much has been written about Jeffrey Epstein, the wealthy businessman who sexually abused and trafficked underage girls for years. Yet so little had been heard from the victims, dozens of adolescents, some still wearing braces, who were cut out of the lenient deal that sent the town of Palm Beach sex offender to jail for only 13 months. That is the power of Perversion of Justice, an investigation by Miami Herald reporter Julie K. Brown that for the first time gives a voice and a face to some of the victims of the Epstein case. A decade after a secret plea agreement ... the victims - now women in their late 20s and early 30s - are still seeking an elusive justice. Brown first became interested in the topic of sex trafficking after completing a series on abuses at a Florida women’s prison. In her early research, the Jeffrey Epstein case came up repeatedly. Brown dug as deeply as possible into the behind-the-scenes machinations that characterized the Jeffrey Epstein prosecution. She was able to identify 80 possible victims, labeled Jane Does in lawsuits to protect their identifies as minors. She reached out to 60 of the women and eight agreed to talk about the case. Four victims ... spoke on the record and on camera, three of them for the first time. Efforts to keep details of the case secret ... are underscored not just by sealed court documents in various civil cases, but by emails between the prosecution and the defense, which talked about an “avoid-the-press” strategy and a deliberate campaign to keep the victims in the dark.
Note: Video of Epstein's victims speaking out is available at the link above. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
The U.S. military has long insisted that it maintains a “light footprint” in Africa, and there have been reports of proposed drawdowns ... and closures of outposts on the continent, due to a 2017 ambush in Niger and an increasing focus on rivals like China and Russia. But through it all, U.S. Africa Command has fallen short of providing concrete information about its bases on the continent. Documents obtained from AFRICOM by The Intercept, via the Freedom of Information Act, however, offer a unique window onto the sprawling network of U.S. military outposts in Africa, including previously undisclosed or unconfirmed sites in hotspots like Libya, Niger, and Somalia. The military’s constellation of bases includes 34 sites scattered across the continent, with high concentrations in the north and west as well as the Horn of Africa. These regions, not surprisingly, have also seen numerous U.S. drone attacks and low-profile commando raids in recent years. Libya — the site of drone and commando missions, but for which President Donald Trump said he saw no U.S. military role just last year — is nonetheless home to three previously undisclosed outposts. According to [military expert] Adam Moore ... “It is getting harder for the U.S. military to plausibly claim that it has a ‘light footprint’ in Africa. In just the past five years, it has established what is perhaps the largest drone complex in the world in Djibouti — Chabelley — which is involved in wars on two continents, Yemen, and Somalia.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on military corruption and war.
Last March, Tony Schmidt discovered something unsettling about the machine that helps him breathe at night. Without his knowledge, it was spying on him. From his bedside, the device was tracking when he was using it and sending the information not just to his doctor, but to the maker of the machine, to the medical supply company that provided it and to his health insurer. Schmidt, an information technology specialist ... was shocked. "I had no idea they were sending my information across the wire." Like millions of people, he relies on a continuous positive airway pressure, or CPAP, machine that streams warm air into his nose while he sleeps. Without it, Schmidt would wake up hundreds of times a night. As many CPAP users discover, the life-altering device comes with caveats: Health insurance companies are often tracking whether patients use them. If they aren't, the insurers might not cover the machines or the supplies that go with them. And, faced with the popularity of CPAPs ... and their need for replacement filters, face masks and hoses, health insurers have deployed a host of tactics that can make the therapy more expensive or even price it out of reach. A host of devices now gather data about patients, including insertable heart monitors and blood glucose meters. Privacy laws have lagged behind this new technology, and patients may be surprised to learn how little control they have over how the data is used or with whom it is shared.
Note: For more along these lines, see concise summaries of deeply revealing news articles on health and the disappearance of privacy.
A mini-runway, lined with stiletto heels, glistens in bright fluorescent lighting. Shoes of various types sit neatly in individual glass shelves. It was a private launch party of a new luxury brand of shoes called Palessi, designed by Italian designer Bruno Palessi. “I would pay $400, $500.’” a woman said as she tried on a pair of bright-gold sneakers. The woman was not actually buying a Palessi because there’s no such brand, and there’s no Bruno Palessi. There is, however, Payless ShoeSource, a discount shoe retailer hoping to shake things up through an ... advertising prank to attract new customers and change the perception that the company sells cheap, unfashionable shoes. The prank also points to a reality about the human mind: Consumers are not capable of discerning the quality and value of the things they buy, said Philip Graves, a consumer behavior consultant. Slap a fancy-sounding European label on $30 shoes, and you have an illusion of status that people will pay an exorbitant amount of money for. On the day of the launch ... after attendees purchased overpriced shoes ― some for $200, $400 and $600 ― they were taken toward the backroom, where the prank was revealed. “You’ve got to be kidding me,” said [one attendee], her eyes wide as she stared down at the overpriced shoes in her hands. “Consumers have been paying hugely inflated prices,” [said Graves]. “Some of the pleasures that we get from things that we buy come from the money we spent on them.”
Note: While this marketing prank demonstrated the public's willingness to ignore product quality in evaluating the cost of purchases, a much more serious study recently found that the average CEO-to-worker pay ratio has now reached 339 to 1 across US companies.
After the financial crisis 10 years ago, unhappy customers were expected to flee the megabanks for smaller competitors. It didn’t happen. And the big banks became even more entrenched. Now another wave of alternative banks are at it again. Chime, the biggest new name to pop up, has opened two million fee-free online checking accounts and is adding more customers each month than Wells Fargo or Citibank. Venture capitalists are pouring money into American start-ups that are offering basic banking services — known as neo-banks or challenger banks. In 2018 so far, American neo-banks have gotten ... 10 times as much funding as they did in 2015. “In consumer banking, you have what is one of the largest industries in the United States, in terms of profits, and at the same time one of the least disrupted industries, and the most unpopular with consumers,” said Andrei Cherny, the founder of Aspiration, a neo-bank that has attracted nearly a million customers. “Those three things create a perfect storm for disruption.” The banks are struggling to adapt because they have built an expensive infrastructure of local branches and have become increasingly reliant on revenue from fees. Surveys have shown that a wide array of fees, for everything from A.T.M. use to checking account maintenance, have been steadily rising in recent years. The big banks have also held on to the interest payments they get rather than passing them along to depositors.
Note: For more along these lines, see concise summaries of deeply revealing banking corruption news articles from reliable major media sources.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.