Tennessee Elementary School Shooting Meticulously Planned

In connection with the tragedy in which seven people, including three students, were killed in a shooting at a private elementary school in Tennessee, circumstances were revealed that the suspect had carefully planned the crime in advance.

It is shocking that it was confirmed that he had prepared the location for the shooting in detail in advance, and even prepared his own position on the crime.

According to the Associated Press, local police are investigating the identity of the suspect who was shot and killed by the police after committing a crime at Covenant School in Nashville, Tennessee on the morning of the 27th as Audrey Hale (28), a transgender woman.

Nashville Police Chief John Drake said the suspect, a graduate of the school, had a map showing how to proceed with the attack based on a preliminary tour of the school building, including the location of the entrance to the school.

“She prepared the suspect to face law enforcement,” she explained.

Armed with two AR-15 style semi-automatic rifles and a handgun, Hale first broke the glass door with her gunfire, then entered the building and committed the crime.

In addition, the police have secured and analyzed texts written in relation to the shooting, including her statement and several notes from Hale.

Regarding the statement, Chief Drake said, “It suggests that several shootings were intended to be committed,” and that “Covenant School was just one of them.”

A motive has yet to be determined, police said, adding that all factors were being investigated, including the possibility that Hale’s gender identity was involved.

US Cracks Down on Stolen Laundered Cryptocurrencies

With the cooperation of the US and German governments, a cryptocurrency company that has been laundering cryptocurrencies stolen by North Korea and criminal groups so that the judicial authorities cannot trace them has been caught.

The U.S. Department of Justice announced on the 15th that it had cracked down on online cryptocurrency platform ChipMixer, which provided a mixing service necessary to launder more than $3 billion (about 400 billion won) of cryptocurrency from 2017 until recently.

The Ministry of Justice said it had worked with German authorities to seize Chipmixer’s domains, servers, and more than $46 million in cryptocurrency.

In addition, Minh Quoc Nguyen (49) of Hanoi, Vietnam, who operated the chip mixer, was charged with money laundering, unauthorized business, and identity theft, and explained that if the charges are confirmed, he could face up to 40 years in prison.

According to the indictment filed by the Ministry of Justice, Chipmixer provided a mixing service that mixed the bitcoins deposited by customers with the bitcoins of other customers, making it difficult for judicial and regulatory authorities to track transactions.

Chipmixer offered several features to enhance the anonymity of offenders and hid the location of its servers to avoid seizure by law enforcement authorities.

In addition, while providing services to several clients in the United States, it has not registered with the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN).

The Ministry of Justice said Chipmixer laundered over $700 million in bitcoin, including cryptocurrencies stolen from blockchain video game company Axie Infinity in 2022 and blockchain technology company Harmony in 2020 by North Korean-linked hacker organizations Lazarus and APT38.

In addition, the General Reconnaissance Administration (GRU), a Russian military intelligence organization, was also one of the customers who entrusted Chipmixer with bitcoin washing.

In addition, customers of ‘Hydra’, the world’s largest darknet market, also visited the chip mixer. The darknet market is a black market on the Internet where drugs and stolen financial information are traded.

“Chipmixers have helped all sorts of criminals escape scrutiny by making it easy to launder vast amounts of cryptocurrencies, especially bitcoin, on an international scale,” said federal prosecutor Jacqueline Romero for the Eastern District of Pennsylvania.

US Politicians, ‘No Bailout’ vs ‘Intervention’ in SVB Crisis

U.S. politicians are confronting each other over responsibility and countermeasures for the collapse of Silicon Valley Bank (SVB).

While Republicans who favor ‘small government’ oppose government intervention such as bailouts, Democrats are arguing that the government should act to protect depositors and strengthen financial supervision to prevent similar situations.

According to foreign media such as the Wall Street Journal (WSJ) on the 12th, Republican Nikki Haley, former US ambassador to the United Nations, who declared running for president, made a statement and argued that “taxpayers should never bail out SVB.”

Former Ambassador Haley said, “Individual investors can buy banks and assets. There is no responsibility for American taxpayers to intervene. We must end the era of big government and corporate bailouts.”

Entrepreneur Vivek Ramaswamy, who also entered the race for the Republican primary, said in an interview with CNN that day that SVB made poor management decisions, saying, “I don’t think we should compensate for such bad behavior or management.”

He argued that the government should not insure deposits that exceed the $250,000 limit set by the Federal Deposit Insurance Corporation (FDIC).

There were also voices criticizing the regulators.

Florida Gov. Ron DeSantis of the same party blamed regulators in a Fox News interview, saying, “We have a huge body of federal bureaucrats, but they never show up when we need them to stop this from happening.”

In the Democratic Party, mixed reactions are detected.

Rep. Lo Cana (Democratic) of Northern California, where SVB is headquartered, argued in an interview on CBS’ ‘Face the Nation’ that day that the government should protect all depositors’ deposits in principle.

He stressed that there is a precedent in which the Treasury Department guaranteed all deposits at the Bank of New England in 1991, when Fed Chairman Jerome Powell was at the Treasury Department.

He also argued that the Treasury Department and the FDIC should support liquidity, saying that SVB has sufficient assets, but liquidity has been insufficient due to the Fed’s rapid rate hike.

Democrats Congressman Eric Swalwell (California) and Congressman Rubin Gayego also argued on Twitter that the FDIC must also insure amounts exceeding $250,000.

Meanwhile, Democratic Senator Robert Menendez of the Senate Banking Committee said in an NBC interview that he did not support the bailout.

Some argue that the situation happened because the Republicans eased financial regulations, and that government supervision over banks should be strengthened.

“The collapse of the SVB demonstrates the need for strong regulation to protect the financial system,” Senator Elizabeth Warren, a Democrat, tweeted.

The FDIC, currently designated as SVB’s bankruptcy trustee, is looking for a company to acquire the bank’s assets, and this is being discussed as a best-case scenario.

If the sale of assets does not go smoothly, there is a way for the government to guarantee deposits that exceed the guarantee limit, but the WSJ predicted that such a plan would not be easy in a state where the political world is extremely divided.

Expansion of Route 29 into Centerville, Virginia

The 1.5-mile section of Route 29 (Lee Highway) entering Centerville from Fairfax, Virginia, was officially started with a groundbreaking ceremony on the 8th to widen the 1.5-mile section from 4 lanes to 6 lanes.

The groundbreaking ceremony was attended by Kathy Smith, Sully District Supervisor, and Pat Herity, Springfield Supervisor, along with officials from the Virginia Department of Transportation.

Supervisor Smith said, “This project will greatly benefit the residents of the Sully District on their way home from work in the afternoon. I am pleased that Fairfax County can work with the Virginia Department of Transportation to expand the four-lane to six-lane system.”

The section between Union Mill Road and Buckley’s Gate Drive is where bottlenecks are constantly occurring with the estimated 30,000 vehicles pass each day.

The purpose of this construction is to reduce bottlenecks that occur during the day, including commuting, at the intersection of Clifton Road and Route 29.

The project which is estimated to cost $97 million will be funded by federal, state, and local governments.

Prior to the groundbreaking ceremony, large trees along Route 29 were cut down for construction.

This area is home to Colin Powell Elementary School and is home to many Koreans, and Koreans are welcoming the project.

Mr. Park, who lives in the area, said, “I welcome the start of this construction,” and “On the one hand, I am a little worried about traffic congestion until the construction is finished.”

Hwang Gye-sil, a real estate broker, said, “Centerville is gradually becoming a better area to live in. If Road 29 is expanded from 4 lanes to 6 lanes, accessibility will increase as well, so it will affect real estate prices.”

Californians Stranded in Heavy Snowfall

Foreign media reported on the 4th that residents of the Southern Mountains of California are anxiously awaiting rescue as they are trapped in unusual heavy snowfall.

According to the Associated Press, towns in the San Bernardino Mountains, not far from Los Angeles (LA), were isolated as a recent winter storm hit southern California, which shows mild weather even in winter.

Houses and shops were buried in heavy snow, and major highways connected to the outside were blocked due to avalanches.

Unlike Northern California, which is accustomed to snowfall, disaster response authorities and residents in the South are having a hard time with this winter’s storms.

More than 1,200 rescue calls have been received by the San Bernardino County Sheriff’s Office, but county authorities have not even been able to accurately determine how many people will be trapped in vacation homes and rental homes.

A villager who was cut off from the outside world left a message “Help Us” (Help Us) with footprints in the white snow field.

San Bernardino County authorities first mobilized helicopters to deliver relief goods, and created narrow roads that could be entered by vehicles to provide emergency assistance such as food, medicine, and baby products to isolated villages such as Big Bear and Lake Arrowhead.

Authorities said that more time is needed to ensure smooth supply of goods to the mountain village, and that some residents will have to wait for relief in isolation for another week.

American Millennials Sitting in Debt

The Wall Street Journal (WSJ) reported on the 25th that millennials in their 30s in the United States have been hit harder than other generations by the changes in recent years, such as the Corona 19 pandemic and inflation.

Stacey Cocklin (31), who lives in Miami and raises a teenage daughter, was trying to buy her first home right before the Corona 19 pandemic. He works as a construction project manager and earns $40,000 a year, but he lived with his parents for two years to put together a down payment and pay off his credit card debt.

However, as schools closed due to COVID-19, and she had to spend $1,200 a month on childcare for her two children, her credit card loans increased again. As interest rates rose amid soaring inflation, he eventually forgot his savings and ended up in debt of more than $20,000, including credit card loans and personal loans.

WSJ analyzed that the millennial generation was put in a disadvantageous situation from the start. I started working from 2007 to 2009, when the economy was in a slump due to the financial crisis, and there were many cases where income was restricted due to this influence.

This generation was more shocked than other generations when they experienced the COVID-19 pandemic when they were in the midst of giving birth and raising children and buying their own home for the first time.

As schools closed, I spent thousands of dollars on unplanned childcare and private education, and when I was trying to buy my first house, I was pressured by high interest rates and rising house prices.

Such is the case with Mr. Cocklin. He said, “Starting with shampoo, everything that my children need as they grow up has become more expensive. I have no idea what to do.”

According to the Federal Reserve Bank of New York, the total debt of millennials increased by 27% from the end of 2019 to more than $3.8 trillion as of the fourth quarter of last year.

Debt growth among millennials is the steepest among all age groups. The three-year rate of debt accumulation in this age group is the fastest since the 2008 financial crisis.

In an analysis by credit information company Vantage Score Solutions, the average credit card balance of millennial borrowers last month was about $6,750 (about 8.9 million won), up 26% from three years ago. The balance of the older generation, Generation X, is almost unchanged, compared to an 11-15% decline in the older generation.

The average personal loan balance of millennials also increased more than all borrowers. Also, according to the New York Fed, younger borrowers are more likely than other age groups to be late on their car payments.

Credit rating agency TransUnion analyzed that millennials are delinquent on credit card payments more than before the Corona 19 pandemic. In contrast, the rate of card delinquency among the elderly decreased over the same period.

The WSJ pointed out that the rising debt of the millennial generation can deepen the gap between the rich and the poor between generations.

This generation also experienced difficult times such as the economic crisis, felt financially unstable even when the economic situation was good, and analyzed that they were relatively passive about opportunities to increase their income, such as starting a business or investing.

“Younger, less affluent borrowers are under financial pressure as their incomes are unable to keep pace with rising living costs and inflation, and in that sense, a ‘credit gap’ is emerging,” said Silvio Tavares, CEO of Vantage Score Solutions. We don’t see this in people,” he said.

“For millennials, they’re being beaten in all directions. They feel they have no control over their finances,” said Charlotte Principato, a financial services analyst for younger consumers at market research firm MorningConsult. The millennials will also follow in the footsteps of the millennial generation.”

U.S. Food and Clothing Companies Expand Investment in China

Although the US government is tightening regulations on Chinese investment, it has been found that there are not a few US companies betting on the Chinese market.

The Wall Street Journal (WSJ) reported on the 26th that despite the recent change in the investment environment due to the US-China conflict, an increase in US food and clothing companies are expecting the Chinese market to normalize after the pandemic.

Starbucks has recently announced its plans to open 3,000 of its stores in China by 2025.

As of December, last year, Starbucks sales in China plunged 42% compared to the same period last year, but the company cannot give up the possibility of the Chinese market in the long run.

Starbucks CEO Howard Schultz also announced plans to visit China for the first time this spring.

“Starbucks’ growth in China is still in its infancy,” Schultz said.

Hamburger maker McDonald’s also announced plans to open 900 new stores in China this year.

Spam maker Hormel also decided to significantly expand its operations in China, including building a new plant outside Shanghai.

Tapestry, the parent company of fashion brand Coach, and apparel maker Ralph Lauren are also adding new stores in China.

Such an investment atmosphere by US companies seems to be due to the growth potential of the Chinese economy.

Recently, Goldman Sachs raised China’s economic growth rate this year from 5.2% to 5.5% after scrapping the ‘zero corona’ policy.

The Chinese government’s recent forward-looking stance towards US companies also seems to have had an impact on the expansion of investment.

On the 22nd, China’s Ministry of Foreign Affairs released a photo of a meeting between an executive from US aircraft manufacturer Boeing and a senior foreign ministry official on its WeChat official account.

The Chinese Ministry of Foreign Affairs even left an article saying, “We will spare no support for American companies, including Boeing.”

China also allowed the release of a superhero movie by Marvel, a film production company affiliated with Disney, for the first time in 3 years and 7 months since 2019.

However, the WSJ said that the expansion of investment in China is centered on companies in the consumer goods sector, and technology and manufacturers are maintaining a cautious attitude toward China.

Demand for Severance Pay Intensifies in the US

Demands for severance pay from laid-off employees are growing stronger as tech companies continue to cut jobs amidst concerns about the economic downturn.

To get more severance, pay, laid-off employees are putting pressure on companies by hiring experts in negotiations or even lawyers. The Wall Street Journal (WSJ) reported that tech companies are facing the reality of having to suffer the aftereffects of severe layoffs due to strong demands for severance pay.

According to the newspaper, there are an increasing number of cases in which employees who have been notified of layoffs by tech companies hire lawyers or experts to negotiate with the companies to secure more severance pay as part of self-rescue measures.

Brian Liu, founder of Laura, a negotiation consulting firm, said, “Since last May, employees who received notice of dismissal from tech companies have requested consulting on severance pay negotiations.”

Two years ago, there was little demand for consulting related to severance pay. Rather, mentioning the conditions for severance pay during the dismissal process at that time was a kind of taboo. This was because they were able to receive higher salaries while changing jobs due to manpower shortages.

But the situation was reversed. As the economy entered a recession due to high interest rates, tech companies made the management choice of reducing employees, resulting in a series of layoffs.

Tech companies that enjoyed a boom during the pandemic have been making massive job cuts since last year. Big tech companies such as Meta, Amazon, Microsoft (MS), and Alphabet joined the layoffs.

The laid-off employees are demanding severance pay, arguing that it is unfair to lay off large-scale workers just because of the economic downturn. Demand for severance pay, which serves as a cushion against financial shocks after layoffs, has increased as the possibility of re-employment is not as high as before and the opportunity for a salary increase has decreased.

Regarding severance pay, the reality is that even tech companies do not have that much room for maneuver. It is not easy to ignore the demand for severance pay, as it is possible to rehire employees who were laid off if the economy improves soon. This is because if the image of the company is damaged and the morale of the dismissed employee is damaged, the possibility of re-employment will be eliminated.

The media added that dismissed employees’ demands for retirement conditions include, in addition to monetary demands for severance pay, maintenance of medical insurance for a certain period and unpaid leave until re-employment.

Deliberate Hit and Run of Elderly Man in Castro Valley

Police are looking for a driver who deliberately hit and ran in the parking lot of a church in the Castro Valley.

The Alameda County Sheriff’s Office said on the 11th at around 7:25 pm that a black adult male driver deliberately hit and ran away from the parking lot of the First Presbyterian Church in the 2900 block of Grove Way.

At that time, the driver’s vehicle brushed the victim, and the victim shouted at the driver, and the driver also shouted, pulled the car back, hit the victim, and fled west toward Redwood Road. The suspect was driving a mid-2010s white Nissan Sentra.

The elderly victim fell to the ground after hitting the hood of the vehicle and was taken to the hospital and is not in a critical condition.

In Auckland, a resident trapped in the basement of a building collapsed and was rescued safely on the 10th.

According to a photo posted by the authorities on Twitter, a man trapped in the basement behind a building that appeared to be a house was safely rescued on the 10th, and the victim was wearing navy-blue jumpsuit and similar clothes and a hat.

Oakland and Alameda County Fire Services said the crash occurred when a building support wall collapsed. However, the Chronicle reported on the 12th that it was not known exactly how the man was imprisoned or where the accident occurred.

A man trapped on a rock under a steep coastal cliff near Stinson Beach in Marin County has been rescued.

The California Highway Patrol (CHP) and the Marin County Fire Department received a report at around 3:14 pm on the 12th and rescued a man who had taken off his shirt from a rock under Highway 1.

Man Shot and Killed by Police in Fort Lee New Jersey

A man armed with a knife detained a teenage girl in a residential area in Fort Lee, a town densely populated by Koreans in New Jersey, and was shot and killed by police during a confrontation with police.

According to the New Jersey State Prosecutor’s Office, the police received a report that a man was holding a teenager in a condominium in Fort Lee John Street at 8:13 am on the 4th.

While the confrontation between the dispatched police and the man continued for a long time, police agents tried to rescue the teenager from the condo on the third floor. During this process, the man, who was believed to be carrying a knife, suddenly acted violently and eventually the police fired a gun to quell it.

The gunshot victim at the hands of the police died at 10:39 am on the same day. Information about the man’s identity, his relationship with the detained teenager, and the motive for the incident have not been released as of 4:00 pm on the 5th.

In this regard, according to NBC, it is known that he visited Fort Lee from Las Vegas with his family.