1
YELLOW ***** FRIDAY, DECEMBER 6, 2013 ~ VOL. CCLXII NO. 134 WSJ.com HHHH $2.00 DJIA 15821.51 g 68.26 0.4% NASDAQ 4033.16 g 0.1% NIKKEI 15177.49 g 1.5% STOXX 600 314.41 g 0.9% 10-YR. TREAS. g 6/32 , yield 2.863% OIL $97.38 À $0.18 GOLD $1,233.20 g $15.00 EURO $1.3668 YEN 101.79 TODAY IN MANSION Deluxe Super Bowl Rentals ARENA Grown-Ups Flock to Books for 8-Year-Olds tomorrow CONTENTS Business Tech............ B5 Corporate News B1-4,6 Global Finance............ C3 Heard on Street........ C8 In the Markets........... C4 Markets Dashboard C5 Movies......................... D3,4 Opinion.................. A17-19 Sports.............................. D9 Television...................... D6 U.S. News................. A2-6 Weather Watch........ B6 World News......... A8-15 s Copyright 2013 Dow Jones & Company. All Rights Reserved > What’s News i i i World-Wide n Nelson Mandela, the anti- apartheid activist who became president of a democratic South Africa, died after a long illness. He was 95. A1, A14, A15 n Congressional negotiators are closing in on a two-year budget deal that would avert the possibility of a government shutdown next month. A1 n Lawmakers are close to a deal on so-called fast-track trade authority for Obama. A4 n The U.S. and China both signaled they are backing away from confrontation over Bei- jing’s air-defense zone. A8 n Biden criticized China’s treatment of foreign journal- ists and pushed its leaders to loosen control over society. A8 n Militants attacked Yemen’s defense ministry and a mili- tary hospital in a rampage that left 52 people dead. A10 n The U.N. authorized France to send more troops to the Cen- tral African Republic as ethnic violence killed at least 50. A10 n The U.S. standoff with Karzai over an Afghanistan se- curity deal could drag into early next year, U.S. officials said. A13 n European leaders pressed Ukrainian authorities and protesters to negotiate a solu- tion to the political crisis. A13 n Russian diplomats and their spouses were accused of Medicaid fraud totaling nearly $1.5 million. A6 n The pope will name a panel to advise the church on deal- ing with child sex abuse. A13 n Bratton was named New York City police commissioner, his second time at the helm. A6 i i i T he U.S. economy grew at an annual rate of 3.6% last quarter, faster than first estimated, as businesses fat- tened inventories. But the pace is likely to weaken. A2 The Dow fell 68.26 points to 15821.51 as economic news fanned fears that the Fed will soon cut back on stimulus. C4 n Goldman clients are exiting Lampert’s hedge fund as the in- vestor and Sears CEO struggles to stem losses at the retailer. C1 n GM plans to halt most Chev- rolet sales in Europe to focus on promoting its German-made Opel brand in the region. B1 n Quiznos is seeking conces- sions from creditors as the sandwich chain struggles with its turnaround efforts. B1 n The Volcker rule will re- quire bank executives to guar- antee their firms are in com- pliance with the regulation. C3 n Retailers reported weaker-than-expected No- vember sales despite a slew of deals and promotions. B3 n Microsoft investigators moved to cut off links to Eu- ropean servers believed to be used in an ad-fraud scheme. B1 n An FCC official said any ef- fort by Comcast to acquire Time Warner Cable would face hurdles in Washington. B3 n The House voted 325-91 to pass legislation aimed at discouraging frivolous law- suits by patent holders. B2 n Penney said it received an SEC letter requesting infor- mation about the company’s controversial stock sale. B2 Business & Finance Congressional budget negotia- tors are working to wrap up a two-year fiscal agreement that would put to rest the threat of a government shutdown in mid- January and bring order to a tu- multuous budgeting process until after the 2014 elections. Lawmakers must still over- come significant obstacles, in- cluding last-minute pressure from Democrats seeking a re- newal of expanded federal unem- ployment benefits and labor unions opposed to proposed cuts in federal employees’ pensions. Still, officials close to the talks say that Sen. Patty Murray (D., Wash.) and Rep. Paul Ryan (R., Wis.), chief negotiators for their parties, are closing in on a deal that, while smaller in scope than past budget deals, would mark a rare moment of bipartisanship in a Congress that has been lurch- ing from one fiscal crisis to the next. Officials say they expect the compromise to allow spending of roughly $1 trillion in each of the next two years, a figure between the $967 billion that House Re- publicans sought for the fiscal year that began Oct. 1 and the $1.058 trillion sought by Senate Democrats. The precise amount cannot be determined until nego- Please turn to page A4 BY JANET HOOK Budget Pact Moves Closer Two-Year Deal Would Head Off Shutdown Threat The U.S. Gulf Coast—home to the world’s largest concentration of petroleum refineries—is sud- denly awash in crude oil. So much high-quality U.S. oil is flowing into the area that the price of crude there has dropped sharply in the past few weeks and is no longer in sync with global prices. In fact, some experts believe a U.S. oil glut is coming. “We are moving toward a significant amount of domestic oversupply of light crude,” says Ed Morse, head of commodities research at Citigroup. Unthinkable five years ago, the abundance of petroleum re- flects surging output from oil fields in West Texas and North Dakota, as well as new pipeline routes to move crude to the re- fining and petrochemical com- plexes that line the coasts of Please turn to page A6 BY RUSSELL GOLD AND NICOLE FRIEDMAN U.S. Oil Prices Fall Sharply As Glut Forms On Gulf Coast JEMEPPE-SUR-SAMBRE, Bel- gium—Simon Gronowski, an 82- year-old Holocaust survivor, mesmerized schoolchildren in this small town recently with a detailed account of jumping off a train to Auschwitz and hiding from the Nazis for three years. The students lobbed close to 50 questions at him, ranging from the unsophisticated—“Did you meet Hitler?”—to the sensi- tive, like his feelings about los- ing the mother and sister who stayed on the train. But the talk exhausted Mr. Gronowski. His knees bother him, he doesn’t hear that well, and it isn’t clear how much lon- ger he can deliver such talks, though he has no plans to stop. “My children and my grandchil- dren will talk about it,” he said. “I can’t do any more than I’m doing.” Mr. Gronowski’s plight under- lines an increasingly urgent problem facing those seeking to memorialize the Holocaust: Nearly seven decades after World War II ended, the final survivors are aging and dying off, making it immensely harder to convey the tragedy’s reality, which has become only more en- graved in public sentiment since a large trove of Nazi-confiscated artworks was recently disclosed. A survivor who was 20 when Auschwitz was liberated would be 88 today, and already few are left who were adults during the war. “Nothing has as much im- pact as seeing the person in real life,” said Regina Sluszny, 74, Please turn to page A16 BY NAFTALI BENDAVID SAVING HISTORY A Race to Preserve the Voices Of Holocaust’s Last Survivors WATERTOWN, Mass.—Cura- tor Linda Veiking was midway through leading a tour of the Plumbing Museum here when she debunked a legend that has been swirling around for a long time. “A lot of people think Thomas Crap- per invented the toi- let, but he didn’t,” she said, standing with her hands on her hips in the mid- dle of the 2,500- square-foot museum packed with com- modes, sinks, toilet paper and diagrams showing the evolution of plumbing codes. Rather than the esteemed London plumber Mr. Crapper, the likely father of the flush toi- let was Englishman John Har- ington, she told her hushed visi- tors, pausing for effect. “Hence, the name John.” These are the kinds of details that are drawing people to this increasingly popular museum outside Boston, considered a premier attraction on the tiny international toilet-based tour- ism trail. Among the other stops is a toilet museum in India—“It has some absolutely gorgeous pieces,” Ms. Veiking gushed—and Kohler Co., a 140-year-old plumbing-products manufacturer that offers tours of its Wisconsin factory. “It’s really remark- able to watch a toilet being assembled,” says Kohler’s archivist Peter Fetterer. Kohler is one of a number of toilet makers and plumbing col- lectors who have sent artifacts east to the Plumbing Museum. The Plumbing Heating Cooling Please turn to page A16 BY JENNIFER LEVITZ Watertown, Mass., Discovers A Swirling Interest in Toilets i i i We Owe a Man Named John Our Gratitude; Plumbing Museums Are Restful Stops Cold Snap for California Crops PEEL BACK: Ice hangs off oranges in Del Rey, Calif., Thursday as growers took measures to keep orchards warm. Freezing weather hit several states, including Texas, where hundreds of flights were canceled. Mark Crosse/Fresno Bee/Associated Press Nelson Mandela, who rose from mili- tant antiapartheid activist to become the unifying president of a democratic South Africa and a global symbol of racial rec- onciliation, died at his Johannesburg home following a lengthy stay at a Preto- ria hospital, the government said Thurs- day. He was 95. In a state television address, President Jacob Zuma said Mr. Mandela had died that evening after a long illness. “Our na- tion has lost its greatest son. Our people have lost a father,” said Mr. Zuma, dressed in a dark jacket and reading his statement in deep somber tones. “Al- though we knew that this day would come, nothing can diminish our sense of a profound and enduring loss.” In a somber statement from the White House, President Barack Obama said Mr. Mandela “achieved more than could be expected of any man. Today he’s gone home and we’ve lost one of the most in- fluential, courageous and profoundly good human beings that any of us will share time with on this Earth.” He also expressed his condolences in a phone conversation with Mr. Zuma. As Mr. Zuma addressed the nation, passersby stopped outside Mr. Mandela’s home in Johannesburg, crying and carry- ing flowers and lighting candles. South Africa’s state television broadcaster played “Amazing Grace,” as it scrolled through pictures of Mr. Mandela’s life and his struggle against apartheid. Mr. Mandela spent nearly three months in the hospital through Septem- ber, initially to treat a lung infection. It was the latest in a series of increasingly severe ailments South Africa’s first black president had battled since contracting tuberculosis during his nearly three de- Please turn to page A14 BY PETER WONACOTT Brooks Kraft/Corbis Timeline of his life ......................................... A14 Obama, other leaders, pay tribute ....... A15 ANC struggles to maintain unity .......... A15 Life and Legacy video, updates: WSJ.com Nelson Mandela 1918-2013 Speed claim based on comparison of national carriers’ average 4G LTE download speeds for Android™ and Windows smartphones and iPhone 5. Reliability claim based on data transfer completion rates on nationwide 4G LTE networks. LTE is a trademark of ETSI. 4G LTE not available everywhere. ©2013 AT&T Intellectual Property. Service provided by AT&T Mobility. All rights reserved. AT&T and the AT&T logo are trademarks of AT&T Intellectual Property. 1.866.MOBILITY ATT.COM/network Visit a Store 4G LTE network. MOST RELIABLE and now FASTEST AT&T. The nation’s C M Y K Composite Composite MAGENTA CYAN BLACK P2JW340000-5-A00100-1--------XA CL,CN,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SC,SL,SW,TU,WB,WE BG,BM,BP,CC,CH,CK,CP,CT,DN,DR,FW,HL,HW,KS,LA,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO P2JW340000-5-A00100-1--------XA

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YELLOW

* * * * * FRIDAY, DECEMBER 6, 2013 ~ VOL. CCLXII NO. 134 WSJ.com HHHH $2 .00

DJIA 15821.51 g 68.26 0.4% NASDAQ 4033.16 g 0.1% NIKKEI 15177.49 g 1.5% STOXX600 314.41 g 0.9% 10-YR. TREAS. g 6/32 , yield 2.863% OIL $97.38 À $0.18 GOLD $1,233.20 g $15.00 EURO $1.3668 YEN 101.79

TODAY IN MANSION

Deluxe Super Bowl RentalsARENA Grown-Ups Flock to Books for 8-Year-Olds

tomorrow

CONTENTSBusiness Tech. ........... B5Corporate News B1-4,6Global Finance............ C3Heard on Street........ C8In the Markets........... C4Markets Dashboard C5

Movies......................... D3,4Opinion.................. A17-19Sports.............................. D9Television...................... D6U.S. News................. A2-6Weather Watch........ B6World News......... A8-15

s Copyright 2013 Dow Jones & Company.All Rights Reserved

>

What’sNews

i i i

World-WidenNelsonMandela, the anti-apartheid activist who becamepresident of a democraticSouth Africa, died after a longillness. He was 95. A1, A14, A15nCongressional negotiatorsare closing in on a two-yearbudget deal that would avertthe possibility of a governmentshutdown next month. A1n Lawmakers are close to adeal on so-called fast-tracktrade authority for Obama. A4nThe U.S. and China bothsignaled they are backing awayfrom confrontation over Bei-jing’s air-defense zone. A8nBiden criticized China’streatment of foreign journal-ists and pushed its leaders toloosen control over society. A8nMilitants attacked Yemen’sdefense ministry and a mili-tary hospital in a rampagethat left 52 people dead. A10nTheU.N. authorized Franceto sendmore troops to the Cen-tral African Republic as ethnicviolence killed at least 50. A10nTheU.S. standoffwithKarzai over an Afghanistan se-curity deal could drag into earlynext year, U.S. officials said.A13n European leaders pressedUkrainian authorities andprotesters to negotiate a solu-tion to the political crisis. A13n Russian diplomats andtheir spouses were accusedof Medicaid fraud totalingnearly $1.5 million. A6nThe pope will name a panelto advise the church on deal-ing with child sex abuse. A13nBrattonwas namedNewYork City police commissioner,his second time at the helm.A6

i i i

The U.S. economy grewat an annual rate of 3.6%

last quarter, faster than firstestimated, as businesses fat-tened inventories. But thepace is likely to weaken. A2The Dow fell 68.26 pointsto 15821.51 as economic newsfanned fears that the Fed willsoon cut back on stimulus. C4nGoldman clients are exitingLampert’s hedge fund as the in-vestor and Sears CEO strugglesto stem losses at the retailer. C1nGMplans to halt most Chev-rolet sales in Europe to focuson promoting its German-madeOpel brand in the region. B1nQuiznos is seeking conces-sions from creditors as thesandwich chain struggles withits turnaround efforts. B1n The Volcker rule will re-quire bank executives to guar-antee their firms are in com-pliance with the regulation. C3n Retailers reportedweaker-than-expected No-vember sales despite a slewof deals and promotions. B3nMicrosoft investigatorsmoved to cut off links to Eu-ropean servers believed to beused in an ad-fraud scheme. B1nAn FCC official said any ef-fort by Comcast to acquireTimeWarner Cable would facehurdles in Washington. B3n The House voted 325-91to pass legislation aimed atdiscouraging frivolous law-suits by patent holders. B2n Penney said it received anSEC letter requesting infor-mation about the company’scontroversial stock sale. B2

Business&Finance

Congressional budget negotia-tors are working to wrap up atwo-year fiscal agreement thatwould put to rest the threat of agovernment shutdown in mid-January and bring order to a tu-multuous budgeting process untilafter the 2014 elections.

Lawmakers must still over-come significant obstacles, in-cluding last-minute pressurefrom Democrats seeking a re-newal of expanded federal unem-ployment benefits and laborunions opposed to proposed cutsin federal employees’ pensions.

Still, officials close to the talkssay that Sen. Patty Murray (D.,Wash.) and Rep. Paul Ryan (R.,Wis.), chief negotiators for theirparties, are closing in on a dealthat, while smaller in scope thanpast budget deals, would mark arare moment of bipartisanship ina Congress that has been lurch-ing from one fiscal crisis to thenext.

Officials say they expect thecompromise to allow spending ofroughly $1 trillion in each of thenext two years, a figure betweenthe $967 billion that House Re-publicans sought for the fiscalyear that began Oct. 1 and the$1.058 trillion sought by SenateDemocrats. The precise amountcannot be determined until nego-

PleaseturntopageA4

BY JANET HOOK

BudgetPactMovesCloserTwo-Year DealWould Head OffShutdown Threat

The U.S. Gulf Coast—home tothe world’s largest concentrationof petroleum refineries—is sud-denly awash in crude oil.

So much high-quality U.S. oilis flowing into the area that theprice of crude there has droppedsharply in the past few weeksand is no longer in sync withglobal prices.

In fact, some experts believe aU.S. oil glut is coming. “We aremoving toward a significantamount of domestic oversupplyof light crude,” says Ed Morse,head of commodities research atCitigroup.

Unthinkable five years ago,the abundance of petroleum re-flects surging output from oilfields in West Texas and NorthDakota, as well as new pipelineroutes to move crude to the re-fining and petrochemical com-plexes that line the coasts of

PleaseturntopageA6

BY RUSSELL GOLDAND NICOLE FRIEDMAN

U.S. Oil PricesFall SharplyAs Glut FormsOn Gulf Coast

JEMEPPE-SUR-SAMBRE, Bel-gium—Simon Gronowski, an 82-year-old Holocaust survivor,mesmerized schoolchildren inthis small town recently with adetailed account of jumping off atrain to Auschwitz and hidingfrom the Nazis for three years.

The students lobbed close to50 questions at him, rangingfrom the unsophisticated—“Didyou meet Hitler?”—to the sensi-tive, like his feelings about los-ing the mother and sister who

stayed on the train.But the talk exhausted Mr.

Gronowski. His knees botherhim, he doesn’t hear that well,and it isn’t clear how much lon-ger he can deliver such talks,though he has no plans to stop.“My children and my grandchil-dren will talk about it,” he said.“I can’t do any more than I’mdoing.”

Mr. Gronowski’s plight under-lines an increasingly urgentproblem facing those seeking tomemorialize the Holocaust:Nearly seven decades after

World War II ended, the finalsurvivors are aging and dyingoff, making it immensely harderto convey the tragedy’s reality,which has become only more en-graved in public sentiment sincea large trove of Nazi-confiscatedartworks was recently disclosed.

A survivor who was 20 whenAuschwitz was liberated wouldbe 88 today, and already few areleft who were adults during thewar. “Nothing has as much im-pact as seeing the person in reallife,” said Regina Sluszny, 74,

PleaseturntopageA16

BY NAFTALI BENDAVID

SAVING HISTORY

ARace to Preserve the VoicesOfHolocaust’s Last Survivors

WATERTOWN, Mass.—Cura-tor Linda Veiking was midwaythrough leading a tour of thePlumbing Museum here whenshe debunked a legend that hasbeen swirling around for a longtime.

“A lot of peoplethink Thomas Crap-per invented the toi-let, but he didn’t,”she said, standingwith her hands onher hips in the mid-dle of the 2,500-square-foot museumpacked with com-modes, sinks, toiletpaper and diagrams showing theevolution of plumbing codes.

Rather than the esteemedLondon plumber Mr. Crapper,the likely father of the flush toi-let was Englishman John Har-ington, she told her hushed visi-tors, pausing for effect. “Hence,

the name John.”These are the kinds of details

that are drawing people to thisincreasingly popular museumoutside Boston, considered apremier attraction on the tinyinternational toilet-based tour-ism trail. Among the other stops

is a toilet museum inIndia—“It has someabsolutely gorgeouspieces,” Ms. Veikinggushed—and KohlerCo., a 140-year-oldplumbing-productsmanufacturer thatoffers tours of itsWisconsin factory.“It’s really remark-able to watch a toilet

being assembled,” says Kohler’sarchivist Peter Fetterer.

Kohler is one of a number oftoilet makers and plumbing col-lectors who have sent artifactseast to the Plumbing Museum.The Plumbing Heating Cooling

PleaseturntopageA16

BY JENNIFER LEVITZ

Watertown, Mass., DiscoversA Swirling Interest in Toilets

i i i

We Owe a Man Named John Our Gratitude;Plumbing Museums Are Restful Stops

Cold Snap for California Crops

PEEL BACK: Ice hangs off oranges in Del Rey, Calif., Thursday as growerstook measures to keep orchards warm. Freezing weather hit severalstates, including Texas, where hundreds of flights were canceled.

MarkCrosse/FresnoBe

e/AssociatedPress

Nelson Mandela, who rose from mili-tant antiapartheid activist to become theunifying president of a democratic SouthAfrica and a global symbol of racial rec-onciliation, died at his Johannesburghome following a lengthy stay at a Preto-ria hospital, the government said Thurs-day. He was 95.

In a state television address, PresidentJacob Zuma said Mr. Mandela had diedthat evening after a long illness. “Our na-tion has lost its greatest son. Our peoplehave lost a father,” said Mr. Zuma,dressed in a dark jacket and reading hisstatement in deep somber tones. “Al-though we knew that this day wouldcome, nothing can diminish our sense ofa profound and enduring loss.”

In a somber statement from the WhiteHouse, President Barack Obama said Mr.Mandela “achieved more than could beexpected of any man. Today he’s gonehome and we’ve lost one of the most in-fluential, courageous and profoundlygood human beings that any of us willshare time with on this Earth.”

He also expressed his condolences in aphone conversation with Mr. Zuma.

As Mr. Zuma addressed the nation,passersby stopped outside Mr. Mandela’shome in Johannesburg, crying and carry-ing flowers and lighting candles. SouthAfrica’s state television broadcasterplayed “Amazing Grace,” as it scrolledthrough pictures of Mr. Mandela’s life andhis struggle against apartheid.

Mr. Mandela spent nearly threemonths in the hospital through Septem-ber, initially to treat a lung infection. Itwas the latest in a series of increasinglysevere ailments South Africa’s first blackpresident had battled since contractingtuberculosis during his nearly three de-

PleaseturntopageA14

BY PETER WONACOTT

Brooks

Kraft/Co

rbis

Timeline of his life ......................................... A14 Obama, other leaders, pay tribute....... A15 ANC struggles to maintain unity.......... A15 Life and Legacy video, updates: WSJ.com

Nelson Mandela1918-2013

Speed claimbasedon comparisonof national carriers’ average 4G LTE download speeds for Android™andWindows smartphonesand iPhone 5. Reliability claim based on data transfer completion rates on nationwide 4G LTE networks. LTE is a trademark of ETSI.4G LTEnot available everywhere.©2013AT&T Intellectual Property. Service providedbyAT&TMobility. All rights reserved. AT&Tandthe AT&T logo are trademarks of AT&T Intellectual Property.

1.866.MOBILITY ATT.COM/network VisitaStore

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