This Week’s Under-reported News Summary Nov. 14, 2018

Compiled by Bob Nixon

  • Amid international calls for a cease fire, Saudi Arabia led forces in Yemen have launched a new offensive
  • Sri Lanka in constitutional crisis as President Maithripala Sirisena fires Prime Minister Ranil Wickremesinghe replacing him with former authoritarian president Mahinda Rajapaksa
  • The private equity business model is to strip assets from companies that they acquire. The latest victims: retail grocery chains

• Amid international calls for a cease fire, Saudi Arabia led forces in Yemen have launched a new offensive in the port city of Hodeidah. Pro-government militias backed by Saudi Arabia and the United Arab Emirates are attempting to push out Houthi rebels by the end of the year, when United Nations backed peace talks begin.  

(“Battle Rages in Yemen’s Vital Port As Showdown Looms,” Guardian, Nov. 7, 2018; “The Violence Is Unbearable,’ Medics in Yemen Plead for Help,” Guardian, Nov. 8, 2018)

• In late October, the nation of Sri Lanka fell into a constitutional crisis when President Maithripala Sirisena fired Prime Minister Ranil Wickremesinghe and replaced him with former authoritarian president Mahinda Rajapaksa, accused of human rights abuses and corruption.

(“Let the People Decide: Sri Lanka Wants a Vote As Crisis Drags On,” Al-Jazeera, Nov. 7, 2018; “Behind Sri Lanka’s Turmoil, a China-India Struggle for Investments and Influence,” Reuters, Nov. 8, 2018)

• Seven major grocery chains employing over 125,000 workers have filed for bankruptcy over the last three years. The media has blamed “disruptors”— such as low-cost competitors like Walmart and Whole Foods, now owned by Amazon. But the American Prospect asserts that the real culprits in the industry are private equity owners who were behind all seven bankruptcies.

( “Private Equity Pillage,” American Prospect, Oct. 26, 2018)

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