News 1

Moral Conversion, Grounded in Science; Popes Encyclical Triggers

Climate Concerns
Science and Religion Collaborate; Popes Encyclical Asserts Imperative
Need to Halt Climate Change
Tag:NYCNEWS
WR: RIT
None knows better the optimal use of moral authority than Pope Francis who has
utilized his unique status to raise awareness about the interconnected issues of
environment, poor, humanity, global development and peace in a bid to hoist
common commitment for the greatest issue facing our planet.
Marking an alliance of religion, health science and environment, the
Papal encyclical assertively describes the detrimental effects of climate
change that threatens human health and well-being. The 184 pages
letter stresses the compelling requirement to advance health, equitable
development and sustainability.
Amongst several positive responses to the ideas of the progressive Papal, one
has been witnessed in the Catholic colleges in the US Huffington Post where
students have urged their schools to part with fossil fuels.
This long-anticipated encyclical on environment released mid-June also
influenced the key official voices including the distinguished United Kingdombased health body, The Lancet Commission which released its report on health
and climate change and the White House that hosted a summit on climate
concerns.
Contrarily, many others have ridiculed the Popes message, like one, Steven
Mosher of the New York Post wrote a column titled Do the pope and I live on the
same planet?, accusing the Popes encyclical to be full of fictions and lacking
evidence to support Popes climate concerns.
Nonetheless, it is important to comprehend that Pope Francis intends to raise
public awareness about the forthcoming perils in case the indispensible
precautions are not taken now; it very effectively goes beyond religion and
addresses the entire global population to adopt changes in lifestyle, production
and consumption.
The Pope has called for more than everyday recycling as these minor changes
alone will not help to tackle the menace of global warming. Pope urged the need
for bold political moves and societal sacrifices though he feels that they are
beyond reality.

News 2
Dollar Tree Finally to Acquire Family Dollar for $8.5 Billion
Family Dollar Sale Deal to Close on July 6, Dollar Tree Wins Yearlong
Bidding War
Tag:NYCNEWS
WR: RIT
The Matthews-based Family Dollar has finally got its new parent company, Dollar
Tree which will complete its $8.5 billion purchase today, thus, marking the
culmination of the yearlong bidding battle with Dollar General.
The long ensuing bidding war came to an end after federal regulators
approved the $8.5 billion sale of Family Dollar to Dollar Tree. The other
contender for the Matthews-based Family Dollar was the discount
retailer, Dollar General.
The takeover which closes on July 6 will end the local ownership of Family dollar,
transferring it to the Chesapeake, Va. based company. The two companies have
completed the closing conditions after the federal regulators approved the deal
last week.
It was informed that under this deal, within 150 days Dollar Tree will sell 330
Family Dollar stores to Sycamore Partners, a New York private equity firm.
Earlier in May, Dollar Tree had stated that it will maintain Family Dollars
headquarters and it plans to operate the some of the acquired stores under the
name Dollar Express. Further, the firm said that for the remaining stores it will
retain the chains name.
Dollar Tree also told about its plans to adopt cost-cutting measures. To make the
company more profitable, Dollar Tree intends to reduce annual expenses by $300
million over the next three years and these austerity measures could involve
layoffs of about 1,300 workers at Family Dollars corporate headquarters in
Matthews.
Bob Sasser, Dollar Tree Chief Executive Officer will head the combined company.
Sasser stated that he plans to lower prices and improve the appearance of
Family Dollar stores after the deal is closed. Also, the Family Dollar CEO, Howard
Levine will be a part of the board of directors. The first Family Dollar store was
opened in 1959 on Central Avenue with a $6,000 loan by Leon Levine.