NPR News Now - November 19, 2024

NPR News Now delivered a comprehensive update on significant national and international events on November 19, 2024. Hosted by Shea Stevens, the episode covered a range of topics, including emergency disaster funding, potential changes to the Department of Education, Spirit Airlines' bankruptcy filing, stock market movements, an incident at Knott’s Berry Farm, and high-profile entertainment news involving Beyoncé and Netflix's NFL broadcast.

Emergency Funding for Natural Disasters

Shea Stevens opened the episode with critical news from President Biden, who is seeking over $98 billion in emergency funding from Congress to address recent natural disasters. Franco Ordonez reported at [00:20] that this substantial amount is allocated to 16 different agencies, including the Agriculture Department and Housing and Urban Development. The primary goal is to repair housing and rebuild infrastructure impacted since the last disaster relief package was passed two years ago.

Shalonda Young, Director of the Office of Management and Budget, emphasized the severity of the situation:

“Hurricanes Helene and Milton have torn through the Southeast, killing hundreds of people.”
([00:35])

A significant portion of the requested funds, approximately $40 billion, is designated for the Federal Emergency Management Agency’s (FEMA) Disaster Relief Fund to ensure sufficient resources are available throughout the upcoming year ([01:04]).

Potential Dismantling of the Department of Education

In a political development, Shea Stevens discussed President-elect Donald Trump’s announcement to nominate an individual to dismantle the U.S. Department of Education. Cory Turner provided insights on the feasibility of this move at [01:17], noting that:

“The U.S. Department of Education was created by an act of Congress and can only be abolished by an act of Congress... which is not likely because of the Senate filibuster.”
([01:27])

Experts suggest that instead of dismantling, Trump might establish a new Department of Education that could reverse various regulatory changes enacted by the Biden administration. One notable example involves Title IX, the federal law protecting students from sex discrimination. Under Biden, Title IX was interpreted to include protections based on sexual orientation and gender identity, a stance that the Trump administration is expected to challenge or modify ([01:27]).

Spirit Airlines Files for Chapter 11 Bankruptcy

Transitioning to the airline industry, Shea Stevens reported that Spirit Airlines has filed for Chapter 11 bankruptcy protection. Franco Ordonez provided details at [02:08]:

“Spirit Airlines says it's reached a deal with its bondholders to restructure its debts and continue operating during bankruptcy.”
([02:30])

Spirit Airlines, the seventh-largest airline in North America, has faced prolonged financial losses and a failed merger attempt with JetBlue Airways, which was blocked by a federal judge in January. The Florida-based carrier plans to emerge from bankruptcy early next year, aiming to stabilize its operations and financial health. Notably, Spirit has not posted a full-year profit since 2019 and has been shrinking its operations to cut costs ([02:30]).

Stock Market Overview

In the financial sector, Shea Stevens provided an update on Wall Street’s performance:

“Wall street stocks closed mix today with the Dow Jones Industrials losing 55 points. The NASDAQ Composite Index gained 111 points.”
([03:06])

Additionally, U.S. futures remained flat in after-hours trading, while Asia Pacific markets showed a predominantly positive trend, albeit with a slight decline in Shanghai ([04:47]).

Incident at Knott’s Berry Farm

An incident at Southern California’s Knott’s Berry Farm was briefly covered by Shea Stevens:

“All stranded passengers have been evacuated. Two were taken to hospital for evaluation. More than 20 riders were stranded in midair for over two hours today when the six-story High Soul spin stopped.”
([03:06])

The malfunctioning ride is under investigation, with technical problems cited as the cause of the prolonged stoppage.

Beyoncé's NFL Halftime Show and Netflix Broadcasting

In entertainment news, Shea Stevens announced that superstar Beyoncé will perform the halftime show during Netflix’s Christmas Day livestream of the NFL game between the Baltimore Ravens and the Houston Texans. Eric Deggans, NPR TV critic, discussed the implications of this high-profile collaboration at [04:00]:

“When Netflix livestreamed a boxing match between YouTube star Jake Paul and former heavyweight champ Mike Tyson on Friday, they drew 60 million households. And an avalanche of complaints over bad connections and disconnected service raises questions over how Netflix will handle live broadcasts of two NFL games on Christmas Day.”
([04:00])

Deggans further speculated that if another megastar like Taylor Swift joins the broadcast for the Pittsburgh Steelers versus Kansas City Chiefs game, it could significantly boost viewership. However, this also poses challenges for Netflix's streaming infrastructure, especially after the previous livestream faced connectivity issues ([04:00]).

Global Market Update

Concluding the episode, Shea Stevens noted:

“U.S. futures are flat in after hours trading on Wall Street. On Asia Pacific markets, shares are mostly higher, but down a fraction in Shanghai.”
([04:47])

This snapshot provided listeners with a brief yet comprehensive understanding of the current state of global financial markets.

NPR News Now continues to deliver timely and relevant news updates, ensuring listeners are well-informed on the latest developments across various sectors.