TODAYINPERSONALJOURNAL Te ensWhoAreMultitaskMasters

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TODAY IN PERSONAL JOURNAL

Teens Who Are Multitask Masters

PLUS New Ways to Live With Multiple Sclerosis

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TUESDAY, OCTOBER 14, 2014 ~ VOL. CCLXIV NO. 89



HHHH $2.00

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What's News

iii

Business & Finance

P enney named Home Depot and Target veteran Marvin Ellison as its next CEO as the chain struggles to fit in a changing retail landscape. A1

n U.S. stocks tumbled in volatile trading, with energy shares among the worst performers. The Dow closed down 223.03 at 16321.07. C1 n Global oil prices fell to near a four-year low. More declines are likely after exporters vowed to keep production steady. C1

n Iliad dropped plans to buy a controlling stake in T-Mobile US, ending a four-month pursuit by the French firm. B1

n France's Jean Tirole won the Nobel Prize in economics for his work on large firms and antitrust regulation. A8

n Fidelity named Abigail Johnson as chief executive. She succeeds her father, who has been CEO since 1977. C1

n Aviation-safety experts called for sweeping changes to limit the fire hazard from lithium-battery shipments. B1

n Microsoft plans to release a patch for a hole in Windows that hackers used to spy on Ukrainian officials. B4

n Janus is buying a provider of exchange-traded funds, a deal that may give Gross a platform to launch his own ETF. C2

n Targa is acquiring Atlas in a $5.87 billion deal that would create a pipeline company active in several Texas fields. B3

n Some potential witnesses in the tax-evasion trial of an ex-UBS official refuse to travel to the U.S. for fear of arrest. C2

iii

World-Wide

n U.S. hospitals face the challenges of cost and training to deal with the prospect of additional Ebola cases. A1 n The second person diagnosed with Ebola in Texas was identified as a 26-year-old Vietnamese-American nurse. A6 n The CDC's director said the agency is rethinking its approach to Ebola control after the nurse became infected. A7

n Islamic State's siege of the Syrian Kurdish city of Kobani has roiled Turkey's push to end its own Kurdish insurgency. A10 n Afghan security officials said Islamic State is beginning to seek a foothold there as foreign troops leave. A10 n Britain is analyzing an article purportedly written by a U.K. hostage in which he says he expects to be killed. A11

n A Vatican document called for greater outreach to gay and divorced Catholics, marking a dramatic shift in tone. A16

n Hong Kong police stepped up efforts to remove protesters' barricades and open roads. A11

n North Korean dictator Kim was shown in public for the first time in weeks. A11

n A Ukraine rebel figurehead was hospitalized after his car was shot at and crashed. A9

n Russia and China signed some 40 deals as Moscow seeks ties to counter sanctions. A9

n Sections of a fault system beneath California's Bay Area are ready to unleash large quakes, a new study says. A2

n A Chinese court sentenced 12 people to death for deadly attacks in Xinjiang. A11

CONTENTS CFO Journal................. B6 Corporate News.... B2,3 Global Finance............ C3 Health & Wellness D2,3,5 Heard on the Street C10 In the Markets........... C4

Leisure & Arts............ D4 Opinion.................. A13-15 Sports.............................. D6 Technology................... B4 U.S. News................. A2-7 Weather Watch........ B6 World News... A8-11,16

>

s Copyright 2014 Dow Jones & Company. All Rights Reserved

U.S.-Led Coalition Bombards City in Effort to Save It

Ebola Response Strains Hospitals

BY BETSY MCKAY AND PETER LOFTUS

AIR FORCE: Planes hit Kobani, Syria, near the Turkish border Monday in an effort to break a siege of the Kurdish city by Islamic State fighters. A10

Retail CEOs Go Back to Basics

New Penney Chief Shows Growing Industry Preference for Operators Over Trend Spotters

This time around, J.C. Penney Co. is playing it safe, picking a new chief whose strength is in the nuts and bolts of retailing rather than flashy merchandising.

The struggling retailer on Monday named Home Depot Inc. and Target Corp. veteran Marvin Ellison as its next CEO, opting for an executive who is known for his strong operational skills and giving him a long transitional period to come up to speed.

The caution contrasts with

By Suzanne Kapner, Shelly Banjo

and Joann S. Lublin

Penney's riskier and ultimately disastrous bet three years ago on former Apple Inc. executive Ron Johnson, who upended its pricing strategy and offerings in an effort to make the chain more hip but ended up blowing a $4 billion hole in the company's sales.

The appointment also reflects

a broader shift in retail in which some big companies have favored detail-oriented operators over executives mainly lauded for brilliance in merchandising, as the industry faces giant new challenges in managing its supply chains and keeping customers from defecting to the Web.

Brian Cornell, a former PepsiCo Inc. executive who recently became CEO of Target, and Art Peck, incoming CEO of Gap Inc., are valued more for their ability

to run large organizations than for their gut instinct about the next hot trend. Penney will need those sorts of skills as it maps out the next steps of a recovery.

The department-store chain has fended off a cash crunch and reversed a steep drop in sales and traffic. The company's loss for the six months that ended Aug. 2 narrowed to $524 million from $934 million a year earlier, as sales grew 6% to $5.6 billion. Yet ques-

Please turn to the next page

As the Ebola epidemic in West Africa expands, more cases could require treatment at U.S. hospitals far from the specialized centers that have handled patients so far. But the challenges even these medical centers have encountered show the steep learning curve others face.

Treating Ebola takes money, space, aggressive care and obsessive vigilance to prevent doctors and nurses from getting infected, say infectious disease doctors at such specialized hospitals in Atlanta and Omaha, Neb. Also important is extreme diplomacy in dealing with suppliers and contractors, which have balked at handling blood samples, soiled linens and hospital waste out of fear of the virus, the hospitals say.

On Monday, the director of the Centers for Disease Control and Prevention, Tom Frieden, said the country needs to boost hospital training and prevention techniques for Ebola. He said experts are examining such things as how protective gear was worn and removed by workers at the Dallas hospital where a nurse was infected while treating a Liberian man who later died of the disease. The nurse's case is the first known transmission of the virus in the U.S.

Dr. Frieden said there may be Please turn to page A6

Nurse diagnosed with Ebola in Texas is identified........................ A6

U.S. rethinks response, focuses on lapses........................................... A7

Health crisis becomes fodder for campaign season.................. A7

More Clouds Gather on the Horizon

S&P 500 2000

1900

A CHURCH OF MANY COLORS

The Most Segregated Hour In America Gets Less So

1800

Monday

1874.74

t 1.65%

1700

200-day moving average

1600 Jan.

Feb. March April May

Source: SIX Financial Information

June July

Aug. Sept. Oct.

The Wall Street Journal

BAD OMENS: The S&P 500 dropped below a key indicator Monday, suggesting to some traders that more declines are ahead. C1

BY LAURA MECKLER

CINCINNATI--As voices and music swelled on a recent Sunday morning, bringing a traditional 19th-century hymn to an arena-rock crescendo, hands of all hues reached toward the heavens.

"This is beautiful," said pastor Chris Beard, looking over pews filled with African-American, white and Asian worshipers in a church service that opened with a prayer for two dozen Ethiopian babies and closed with a benediction in Korean. "To be one church family pleases the heart of the Lord."

The faces were nearly all white in 2001, when Mr. Beard took charge of the century-old First Christian Assembly of God. Today, half its mem-

bers are white and a quarter are black; 30 nationalities make up the rest.

The Rev. Martin Luther King Jr. famously said that Sunday at 11 a.m. was the most segregated hour in America. Today, pastors like Mr. Beard are working to change that, with some success. The proportion of churches in the U.S. with mixed-race congregations--where no single group tops 80%-- has grown from 7% in 1998 to 13% in 2012, according to an analysis of the National Congregations Study, a survey run by Duke University.

"I just began to wonder about our being so mono-ethnic in a multiethnic city," said Mr. Beard, the senior pastor of what is now called Peoples

Please turn to page A12

Senate Race Tests Voters' Appetites for Military Action

Where Motown Sees a Derelict Factory, Berliners See a Techno Dance Club

iii

Germans Pitch Detroit Ideas on Music Scene; Deserted Auto Plant's `Special Aura'

iShares Funds can help you keep more of what you earn.

BY PATRICK O'CONNOR

LITTLE ROCK, Ark.--Few candidates emphasize their military experience more than Rep. Tom Cotton. The Republican Senate challenger peppers stump speeches with references to his stint in the Army. He tours the state in a camouflage-themed RV. A former drill sergeant appears in one of his 30-second TV spots.

The 37-year-old first-term congressman also has become a leading advocate for increased U.S. involvement in the world. He was one of the few members of either party to back President Barack Obama's calls last year for airstrikes in Syria. Mr. Cotton for months has been warning against the dangers of the militant group Islamic State, before the behead-

Please turn to page A4

Gerald F. Seib: Democrats lose edge on peace, prosperity....... A4

BY JACK NICAS

the wrecking ball, Mr. Hegemann

and his friends see the first step

BERLIN--On each of his last 15 toward the revival of America's

visits to Detroit, Dimitri Hege- abandoned city. The asbestos-

mann has visited his old friend, filled ruin, he says, "has a special

Fisher Body 21.

aura...and I have plans for it."

"We really stay in touch," says Mr. Hegemann, founder of a

the 60-year-old

Berlin nightclub

Berliner with

and record label,

flowing blonde-

is spearheading

and-white hair.

a project called

"Fisher Body is

the Detroit-Ber-

my first real

lin Connection,

love."

an effort by the

Fisher Body

movers and

21 is a decrepit

shakers in this

six-story building

city's music

that is covered in

scene to help re-

graffiti, lined

start the Motor

with smashed

Fisher Body 21

City. The Berlin-

windows and, ac-

ers compare De-

cording to state authorities, dan- troit to their city after the fall of

gerously contaminated. Built in the Berlin Wall and say it has all

1919, the former auto-parts plant the ingredients for a similar re-

in Detroit was deserted two de- birth as a center of underground

cades ago.

culture: deserted buildings, cheap

But where others see a case for

Please turn to page A12

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