BD BUSINESS
Jeff Gill | Business reporter
770-718-3408 | jgill@gainesvilletimes.com
The Times, Gainesville, Georgia
Thursday, December 13, 2018
J. SCOn APPLEWHITE I Associated Press
Google CEO Sundar Pichai appears before the House Judiciary Committee to be questioned about the internet
giant’s privacy security and data collection, on Capitol Hill in Washington, Tuesday, Dec. 11.
Google grilled: What lies
ahead for tech companies
BY BARBARA ORTUTAY,
MICHAEL LIEDTKE
AND MARCY GORDON
Associated Press
WASHINGTON —
U.S. lawmakers’ grilling
of Google CEO Sundar
Pichai may have sounded
like a broken record, but
it amplified the prickly
issues facing tech compa
nies as Democrats prepare
to take control of the House
next month.
The 3 1/2-hour hearing
Tuesday hit upon familiar
themes — online privacy,
data protection and the
danger of digital monopo
lies — that are poised to
come into even sharper
focus next year.
Here are some of the
hurdles that Google parent
Alphabet Inc., Facebook,
Amazon and other tech
companies are likely to
face when the 116th Con
gress convenes.
USER PRIVACY
Looming over the tech
industry is the possibility
of government regula
tion intended to protect
people’s data. One model
for lawmakers may be
Europe, where new rules
governing data and privacy
went into effect this year.
Rep. Ted Poe, R-Texas,
tried to pin down Pichai
on privacy during Tues
day’s hearing. “I’ve got an
iPhone,” Poe said, waving
his device. “Can Google
track me when I move?” If
he moved to the left toward
his Democratic colleagues
on the panel, would Google
know?
“Not by default,” Pichai
answered. Poe demanded
a yes or no answer, but
Pichai indicated it was
complicated.
Other lawmakers ques
tioned whether regular
people know how much
data Google can collect
about them and how to stop
being tracked. Privacy, of
course, is also a huge issue
for Facebook, which has
spent nearly a year trying
to recover from the Cam
bridge Analytica data min
ing scandal.
SEARCHING
FOR BIAS
Lawmakers from both
parties seem determined
to re-examine whether
Google rigs its search
results to promote its own
services and its own politi
cal agenda, too. President
Donald Trump also has
complained about the issue
(without evidence).
European regulators
already have concluded
Google manipulated its
search engine to gain an
unfair advantage over
other online shopping sites
in the lucrative e-com-
merce market, and fined
the company $2.8 billion.
Google disputes those find
ings and is still appealing
the decision reached in
2017.
The U.S. Federal Trade
Commission opened a
similar investigation into
Google’s business prac
tices in 2011. That probe
concluded 19 months later
without finding any seri
ous misconduct and didn’t
require any meaningful
changes to how the com
pany operates. But internal
documents later surfaced
that indicated the FTC’s
board had brushed off
some recommendations of
staff lawyers who believed
Google was tinkering with
its search results in way
that stifled competition.
U.S. Rep. David Cicil-
line, a Democrat from
Rhode Island, told Pichai
he intended to work with
the FTC to draw up a regu
latory framework to pre
vent Google from throttling
its rivals through its search
engine, which handles two
out of every three queries
in the U.S.
Numerous lawmakers
also asserted that Google
uses its search engine as
a propaganda machine
that highlights news and
opinions supporting its
own view of how the world
should be. The prevail
ing consensus so far is
that the alleged bias most
frequently falls on the
left-leaning side of most
debates, although that pen
dulum could swing now
that Democrats will be
the majority party in the
House.
But drawing up regula
tions governing that area
of search results would be
more likely to raise First
Amendment issues, mak
ing them even more diffi
cult to impose.
CHINA
Lawmakers on both
sides peppered Pichai
with questions about the
possibility that Google
is considering offering a
censored search engine in
China after pulling out of
that country in 2010 in a
high-profile dispute with its
communist government’s
policies.
It’s not clear what Con
gress might be able to do
to prevent Google from
returning to China, but it
would certainly trigger
more political fireworks.
Pichai acknowledged
Google has been exploring
a possible search engine
in China with a team of
engineers that at times has
exceeded 100 people, but
repeatedly emphasized
the company has no plans
to release it “right now.” If
that changes, Pichai prom
ised let lawmakers know
about it.
Toyota recalls 70,000 vehicles over air bag inflators
Associated Press
DETROIT — Toyota is recalling
about 70,000 Toyota and Lexus brand
vehicles in North America to replace
air bag inflators that could explode
and hurl shrapnel at drivers and
passengers.
The recall covers the 2003 to 2005
Corolla, the 2002 to 2005 Sequoia, the
2003 to 2005 Tundra and the 2002 to
2005 Lexus SC.
Takata uses the chemical ammo
nium nitrate to create a small explo
sion and inflate the bags. But it can
deteriorate and burn too fast, blowing
apart a metal canister.
The Toyota and Lexus vehicles
were recalled previously and the
inflators replaced with new ones that
still used ammonium nitrate. In the
latest recall, Toyota will use inflators
made by another company with a
safer chemical.
Owners will be notified early next
year. Toyota says it has replacement
parts available.
About 65,000 of the recalled vehi
cles are in the U.S.
Toyota says it’s doing the recall a
year ahead of a schedule set by the
U.S. National Highway Traffic Safety
Administration.
Norfolk Southern
to move HQJrom
Va. to Atlanta
BY KELSEY RICHARDSON
krichardson@gainesvilletimes.com
Norfolk Southern Corp. plans to move its headquarters
from Norfolk, Virginia, to Atlanta.
Gov. Nathan Deal announced the company’s relocation in
a statement after a news conference at the Georgia Capitol
on Wednesday.
The company is set to create 850 jobs and invest $575 mil
lion into its Fulton County campus. The new property will be
located at 650 West Peachtree St. NW in Midtown Atlanta.
“As a major hub for both transportation and innovation,
Georgia is a fitting home for Norfolk Southern’s new head
quarters,” Deal said in the statement. “As the No. 1 state for
business six years in a row, Georgia has become a preferred
location for industry leaders like Norfolk Southern, as we
have seen more than 30 locations or expansions by Fortune
500 companies in the better part of the last decade.”
Norfolk Southern Railway, the company’s subsidiary,
operates approximately 19,500 route miles in 22 states and
Washington, D.C. It serves every major container port in the
Eastern U.S. and provides connections to other rail carriers.
Tim Evans, Hall County Chamber of Commerce’s vice
president of economic development, anticipates this relo
cation having a positive impact on the local economy, espe
cially since it already serves many business throughout Hall
County.
As a staple of transportation and logistics, he said the com
pany’s close proximity will reap benefits beyond jobs and
investment.
With Norfolk Southern locating to an established business
hub, he foresees other companies turning their gaze toward
relocating in Georgia.
“The infrastructure and right-of-way that Norfolk South
ern owns is very much a part of our community and many
others across the country,” Evans said. “Having close access
to the headquarters and leadership of Norfolk Southern is
valuable.”
Minn, lawmakers
discuss reining in
soaring insulin costs
Associated Press
ST. PAUL, Minn. — Minnesota lawmakers are consider
ing steps they could take to rein in the soaring cost of insulin,
which one couple says has become so expensive that their dia
betic son could no longer afford it and died.
State Sen. Matt Little convened an informal discussion at
the state Capitol on Tuesday to gather information ahead of
the legislative session that begins next month. The Lakeville
Democrat said the cost of insulin is “immorally high” and that
there appears to be no rational reason for the cost increases.
He said he has drafted several bills aimed at controlling insu
lin costs, including one that would cap prices in the state.
James Holt Jr. and Nicole Smith-Holt, of Richfield, told law
makers how their 26-year-old son, Alec Smith, died last year
because he couldn’t afford his monthly diabetes supplies after
he became too old to remain on their health insurance plan.
“I can imagine how scary it was for Alec to walk out of that
pharmacy without his life-saving insulin,” his mother said.
“He left that day because he did not have the $1,300 that the
pharmacist was charging him for insulin supplies.”
An Associated Press investigation published in September
found that despite President Donald Trump’s campaign prom
ise to reduce drug costs, price increases are far more common
than price cuts. Over the first seven months of the year, there
were 96 price hikes for every price cut, the AP found. The
AP also asked 24 large drug companies this summer if they
planned to cut drug prices. None said they did, though some
didn’t answer.
Minnesota isn’t the only state where patients are calling
for affordable insulin. The Right Care Alliance of patients
and health care worker staged Mother’s Day weekend rallies
across the country against what they called “insulin profiteer
ing” in May, including one in Cambridge, Massachusetts, that
included a march to the offices of insulin-makers Sanofi and
Eli Lilly and one at the Minnesota Capitol, where Smith’s par
ents spoke.
Minnesota Attorney General Lori Swanson is suing three
big insulin makers, alleging that they inflated prices through
deceptive trade practices and consumer fraud.
The Market in Review
Stock Exchange Highlights
A NYSE
B 11,943.29 +82.64
1
Nasdaq
7,098.31 +66.48
Gainers ($2 or more)
Name Last Chg %Chg
Gainers ($2 or more)
Name Last Chg %Chg
Sparton 18.32 +5.20 +39.6
BlueCapRe 6.55 +1.17 +21.7
Puxin n 6.82 +1.14 +20.1
EmergeES 2.41 +.38 +18.7
GSCI37 22.08 +3.08 +16.2
NLInds 3.91 +.49+14.3
Starret 5.85 +.67 +12.9
Maiden prA 10.59 +1.20 +12.8
EndvSilv g 2.11 +.21 +11.1
QuanexBId 13.71 +1.36 +11.0
Losers ($2 or more)
Astrotch rs 3.40 +.73 +27.3
LexnFintn 8.35 +1.73 +26.1
Uxin Ltd n 7.26 +1.38 +23.5
GoldBull n 4.85 +.85 +21.3
GalmedPh 9.39 +1.47 +18.6
AridisPh n 9.00 +1.18+15.1
EstreAm n 3.00 +.34 +12.8
Alliqua rs 2.32 +.26 +12.4
BRileyFn 20.10 +2.20 +12.3
SecWkA A n17.07 +1.86 +12.2
Losers ($2 or more)
Name
Last
Chg %Chg
AAC Hldgs
2.41
-.33
-12.0
JustEngy g
3.61
-.44
-10.9
UndrArm s
19.81
-2.31
-10.4
XPOLogis 60.27
-6.42
-9.6
VitaminSh
5.67
-.57
-9.1
UnAr C wi
19.01
-1.86
-8.9
HarteHk rs
3.08
-.26
-7.8
CheetahM
6.68
-.53
-7.4
StoneMor
2.64
-.21
-7.4
Name Last Chg %Chg
YangRvPt n 4.86 -1.48 -23.3
Neurotrpe h 3.81 -1.14 -23.0
MarinusPh 4.21 -.89 -17.5
Sigmatr 2.70 -.50 -15.6
Diversicre 3.40 -.59 -14.8
Neurcrine 73.83 -11.93 -13.9
Tocagen n 11.23 -1.59 -12.4
Vaccinex n 4.60 -.65 -12.4
ASVHIdn 2.29 -.32 -12.3
ServiceMst 38.20 -2.94 -7.1
LogicBio n 12.32 -1.67 -11.9
Most Active ($1 on more)
Most Active ($1 or more)
Name
Vol(00) Last
Chg
Name
Vol (00) Last Chg
GenElec 1056368 6.71 -.05
BkofAm 871287 24.52 -.06
NokiaCp 483443 6.04 +.20
WellsFargo 428179 47.74 -.02
AT&T Inc 408804 30.16 +.46
FordM 405271 8.64 +.10
Twitter 325380 36.25 +1.80
LloydBkg 321356 2.60 +.07
ChesEng 293235 2.57
Citigroup 249328 55.98 -.24
Diary
1,870
954
65
2,889
31
113
3,906,394,449
AMD 1000469 20.48 +.50
Microsoft 361465 109.08 +.49
Apple Inc 354711 169.10 +.47
NewAgeB n316048 6.01 +.57
Intel 312510 47.83 +.45
SiriusXM 276889 6.32 +.06
Uxin Ltd n 273019 7.26 +1.38
MicronT 266197 36.03 +.82
Comcast s 235033 36.98 +.14
Facebook 233448 144.50 +2.42
Diary
1,991
930
147
3,068
18
183
2,361,082,854
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
Advanced
Declined
Unchanged
Total issues
New Highs
New Lows
Volume
Stocks of Local Interest
YTD
Name Ex Div Yld PE Last Chg %Chg
AFLAC S
1.04
2.4
13
42.90
+.26 0.0
AT&T Inc
2.00
6.6
6
30.16
+.46 -22.4
AbbottLab
1.12
1.5
31
72.53
+.69 +27.1
AMD
20.48
+.50 +99.2
Altria
3.20
6.0
17
53.33
-.62 -25.3
Apple Inc
2.92
1.7
17
169.10
+.47 -.1
ATMOS
1.94
2.0
18
98.59
+.09 +14.8
AutoZone
18
889.34+11.00 +25.0
AveryD
2.26
2.5
26
91.54
+.44 -20.3
BB&T Cp
1.62
3.5
14
46.82
+.26 -5.8
BP PLC
2.38
6.1
11
39.05
-.03 -7.1
BkofAm
.60
2.4
12
24.52
-.06 -16.9
BamesNob
.60
8.8
6.85
-.28 +2.2
Boeing
6.84
2.1
30
326.69
+4.66 +10.8
BrMySq
1.64
3.1
53
53.44
+1.01 -12.8
CSX
.88
1.3
10
68.88
+.79 +25.2
CaesarsEnt ...
7.48
+.31 -40.9
CampSp
1.40
3.6
14
38.86
+.04 -19.2
Caterpillar
3.44
2.7
12
125.37
+2.13 -20.4
ChesEng
4
2.57
... -35.1
Chevron
4.48
3.9
24
115.62
+.15 -7.6
Cisco
1.32
2.8
24
47.42
+.33 +23.8
Citigroup
1.80
3.2
9
55.98
-.24 -24.8
CocaCola
1.56
3.2
93
49.22
-.32 +7.3
Comcast s
.76
2.1
18
36.98
+.14 -7.3
ConAgra
.85
2.8
15
30.59
-.02 -18.8
Cummins
4.56
3.4
38
135.97
+1.57 -23.0
DeutschBk
.83
9.03
+.70 -52.5
Disney
1.76
1.6
15
112.21
+.24 +4.4
DowDuPnt
1.52
2.8
17
54.35
+1.09 -23.7
Equifax
1.56
1.6
17
98.05
+1.01 -16.9
ExxonMbl
3.28
4.3
14
76.02
-.66 -9.1
Facebook
27
144.50
+2.42 -18.1
FordM
.60
6.9
4
8.64
+.10 -30.8
GenElec
.04
.6
6.71
-.05 -61.6
GenuPrt
2.88
2.9
22
100.11
+1.00 +5.4
Groupon
3.27
+.21 -35.9
HP Inc
.64
2.8
7
22.55
+.16 +7.3
Haverty
.72
3.7
20
19.50
+.26 -13.9
HeliosM rs
.02
...-100.0
Hershey
2.89
2.6
24
109.03
+1.12 -3.9
YTD
Name Ex Div Yld PE Last Chg %Chg
HomeDp
4.12
2.4
19
174.21
+2.00 -8.1
Intel
1.20
2.5
18
47.83
+.45 +3.6
IBM
6.28
5.2
9
121.16
+.27 -21.0
JPMorgCh 2.24
2.2
13
101.02
+.65 -5.5
JohnJn
3.60
2.4
21
147.10
+.60 +5.3
Lowes
1.92
2.1
20
92.11
+2.63 -.9
McDnlds
4.64
2.5
28
183.48
-.11 +6.6
Merck
2.20
2.8
29
78.01
+.90 +38.6
MicronT
3
36.03
+.82 -12.4
Microsoft
1.84
1.7
45
109.08
+.49 +27.5
NewAgeB n ...
6.01
+.57+177.0
NorflkSo
3.20
2.0
24
156.70
+1.18 +8.1
OfficeDpt
.10
3.4
8
2.94
... -16.9
Oracle
.76
1.6
51
47.32
+.86 +.1
Penney
1.38
... -56.3
PepsiCo
3.71
3.2
34
117.00
-.29 -2.4
Pfizer
1.36
3.1
18
44.16
+.15 +21.9
PhilipMor
4.56
5.4
20
83.82
-.51 -20.7
Primerica
1.00
1.0
13
104.23
+1.43 +2.6
ProctGam
2.87
3.1
23
94.03
+.12 +2.3
RegionsFn
.56
3.9
12
14.26
+.10 -17.5
SiriusXM
.05
.8
35
6.32
+.06 +17.9
SouthnCo
2.40
5.1
22
47.01
-.55 -2.2
SwstnEngy
5
4.08
-.16 -26.9
SunTrst
2.00
3.7
9
54.63
+.12 -15.4
SvnrqyPh
.16
-.18 -92.8
SynovusFn 1.00
2.9
12
34.34
+.53 -28.4
3M Co
5.44
2.7
28
199.81
+2.35 -15.1
Torchmark
.64
.8
6
78.55
+.50 -13.4
Twitter
36.25
+1.80 +51.0
Tyson
1.20
2.2
10
55.68
-.12 -31.3
UtdCmBks
.64
2.7
14
23.40
+.42 -16.8
UPS B
3.64
3.6
17
101.21
-2.37 -15.1
Uxin Ltd n
7.26
+1.38 -24.9
VerizonCm
2.41
4.2
7
57.25
-1.60 +8.2
Vodafone
1.74
8.5
20.44
+.33 -35.9
WalMart
2.08
2.2
54
93.11
-.74 -5.7
Weathflntl
.46
+.01 -89.1
WeisMk
1.24
2.7
11
46.42
+.77 +12.2
WellsFargo 1.72
3.6
12
47.74
-.02 -21.3
YumBrnds
1.44
1.6
32
90.46
+.65 +10.8
Stock Footnotes: g = Dividends and earnings in Canadian dollars, h = Does not meet continued-listing standards. If = Late filing
with SEC. n = New in past 52 weeks, pf = Preferred, rs = Stock has undergone a reverse stock split of at least 50 percent within the
past year, rt = Right to buy security at a specified price, s = Stock has split by at least 20 percent within the last year, un = Units, vj
= In bankruptcy or receivership, wd = When distributed, wi = When issued, wt = Warrants. Fund Footnotes: m - Multiple fees are
charged, usually a marketing fee and either a sales or redemption fee. Source: The Associated Press. Sales figures are unofficial.
Stock Market Indexes
Dow Jones industrials
Close: 24,527.27
Change: 157.03 (0.6%)
23,880 10 DAYS
27,200
26,400
25,600
24,800
24,000
52-Week Net YTD 12-mo
High Low Name Last Chg %Chg %Chg %Chg
26,951.81
23,344.52
Dow Industrials
24,527.27
+157.03
+.64
-.78
-.24
11,623.58
9,666.65
Dow Transportation
9,833.81
+2.81
+.03
-7.34
-5.43
762.97
647.81
Dow Utilities
753.54
-3.40
-.45
+4.17
+.41
13,637.02
11,696.58
NYSE Composite
11,943.29
+82.64
+.70
-6.76
-5.95
8,133.30
6,630.67
Nasdaq Composite
7,098.31
+66.48
+.95
+2.82
+3.24
1,309.73
1,118.69
S&P 100
1,176.02
+5.94
+.51
-.60
-.36
2,940.91
2,532.69
S&P 500
2,651.07
+14.29
+.54
-.84
-.44
2,053.00
1,746.06
S&P MidCap
1,777.25
+13.80
+.78
-6.49
-5.65
30,560.54
26,293.62
Wilshire 5000
27,302.52
+162.16
+.60
-1.77
-1.17
1,742.09
1,422.98
Russell 2000
1,455.32
+15.19
+1.05
-5.22
-4.53
Mutual Funds
Total Assets Total Return/Rank Pet Min Init
Name
Obj ($Mlns)
NAV
4-wk
12-mo
5-year
Load
Invt
Vanguard 500ldxAdmrl
LB
253,238
245.82
-2.5
+1.4/B
+10.6/A
NL
3,000
Vanguard TtlSMIdxAdmrl
LB
203,888
66.10
-2.6
+1.0/B
+10.1/A
NL
3,000
Fidelity 500ldxlnsPrm
LB
164,099
93.02
-2.6
+1.4/B
+10.6/A
NL
0
Vanguard TtlSMIdxInv
LB
129,896
66.06
-2.6
+0.8/B
+10.0/B
NL
3,000
Vanguard TtlnSIdxinv
FB
128,269
15.71
-1.1
-10.3/B
+2.2/B
NL
0
Vanguard TtlSMIdxIns
LB
123,279
66.11
-2.6
+1.0/B
+10.1/A
NL 5
000,000
Vanguard Insldxlns
LB
116,738
242.52
-2.6
+1.4/B
+10.6/A
NL 5
000,000
Vanguard InsidxInsPlus
LB
104,731
242.54
-2.6
+1.4/B
+10.6/A
NL100,000,000
Vanguard TtlnSIdxinsPlus
FB
95,758
105.13
-1.0
-10.2/B
+2.3/A
NL100,000,000
Fidelity Contrafund
LG
91,616
11.57
-1.5
+3.0/C
+11.2/B
NL
0
Vanguard TtBMIdxAdmrl
Cl
86,606
10.35
+ 1.1
-1.0/B
+2.2/C
NL
3,000
Vanguard WlngtnAdmrl
MA
86,207
70.47
-1.5
-0.5/A
+7.4/A
NL
50,000
Cl -Intermediate-Term Bond, FB -Foreign Large Blend, IH -World Allocation, LB -Large Blend, LG -Large Growth,
LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends reinvested.
Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum
$ needed to invest in fund. Source: Momingstar.
