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Warren Buffett says Berkshire overpaid for Kraft Heinz

FILE PHOTO: Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha
FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo

February 25, 2019

By Jonathan Stempel and Jennifer Ablan

(Reuters) – Warren Buffett said on Monday his Berkshire Hathaway Inc overpaid in the 2015 merger that created Kraft Heinz Co, but he had no plans to flee the struggling packaged foods company.

Buffett spoke four days after Kraft Heinz took a $15.4 billion writedown for its Kraft and Oscar Mayer brands and other assets, slashed its dividend, and said the U.S. Securities and Exchange Commission was probing its accounting.

Kraft Heinz’s share price sank 27.5 percent on Friday, wiping out more than $16 billion of market value, and causing Berkshire to lose $4.3 billion on its stake. Berkshire owns 26.7 percent of Kraft Heinz.

“I was wrong in a couple of ways on Kraft Heinz,” Buffett said on CNBC television. “We overpaid for Kraft.”

Buffett did not say by how much Berkshire overpaid, but said the market reacted “probably quite properly” to the news.

He also said he has “absolutely no intention” of adding to or subtracting from Berkshire’s stake in Kraft Heinz, saying the company had “very, very strong” brands and that he would be happy to own it a decade from now.

The comments were a rare admission of error by the 88-year-old billionaire on a major investment at his Omaha, Nebraska-based conglomerate.

Berkshire and Brazilian private equity firm 3G Capital combined the former Kraft Foods with H.J. Heinz, which they bought in 2013, and own about half of the merged company.

Buffett said he may have learned about the SEC probe seven to 10 days before it was announced.

Greg Abel, a Berkshire vice chairman widely considered a candidate to succeed Buffett as Berkshire’s chief executive officer, is a Kraft Heinz director.

Buffett also said he would continue to do business with 3G and its co-founder Jorge Paulo Lemann, calling him “an absolutely outstanding human being.”

‘TOE TO TOE’

Kraft Heinz’s disclosure raised questions about 3G’s financial strategy for the company, whose brands include Jell-O, Kool-Aid and Philadelphia cream cheese, and whether it is out of step with consumers seeking healthier, fresher alternatives to processed food.

Buffett acknowledged the changes, but said greater pressure is coming from retailers such as Amazon.com Inc, Walmart Inc and Costco Wholesale Corp, saying the latter’s Kirkland brand outsells all Kraft Heinz products.

Stronger brands can “go toe to toe with Walmart or Costco” but weaker brands “tend to lose out,” Buffett said. “The ability to price has changed, and that’s huge.”

Still, Buffett added: “If I had to bet one way or another, I think people will eat more of our products this year than last year.”

Berkshire’s own $3 billion writedown related to Kraft Heinz contributed to a $25.39 billion fourth-quarter net loss for Berkshire.

“He monumentally overpaid for Kraft,” said Doug Kass, founder of the hedge fund Seabreeze Partners Management Inc. “Increasingly, the moats he initially saw in his investments have been damaged.”

The bad news also called into question 3G’s signature business model of zero-based budgeting, which requires managers to justify their expenses annually from scratch, rather than use last year as a guide or pursue cost savings on an ongoing basis.

Kraft Heinz’s belt-tightening resulted in more than $1.7 billion in annual savings, including the loss of thousands of jobs, mirroring 3G’s similar efforts at such companies as Anheuser-Busch InBev and Tim Hortons.

The strategy has resulted in leaner companies, but could backfire if the companies lacked products that people wanted, or failed to spend enough to develop and market those products.

Buffett said he did not believe 3G underinvested in Kraft Heinz, but it was hard for him to tell. Berkshire is not involved in day-to-day operations.

(Reporting by Jonathan Stempel and Jennifer Ablan in New York; Editing by Jeffrey Benkoe and Tom Brown)

Source: OANN

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Barack Obama Warns Progressives Not to Form ‘Circular Firing Squad’

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Source: InfoWars

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Turkey’s AK Party to object to Istanbul voting results: paper

A woman walks past by AK Party billboards with pictures of Turkish President Tayyip Erdogan and mayoral candidate Binali Yildirim in Istanbul
A woman walks past by AK Party billboards with pictures of Turkish President Tayyip Erdogan and mayoral candidate Binali Yildirim in Istanbul, Turkey, April 1, 2019. The billboards read: " Thank you Istanbul ". REUTERS/Murad Sezer

April 2, 2019

ISTANBUL (Reuters) – Turkey’s AK Party has decided to lodge objections to the results of the local election in all 39 districts of Istanbul, Hurriyet newspaper reported on Tuesday, after an opposition candidate gained a lead in the votes according to the latest results.

In Istanbul, the mayoral candidate of the main opposition Republican People’s Party (CHP), Ekrem Imamoglu, and his AKP rival, ex-prime minister Binali Yildirim, both said Imamoglu was around 25,000 votes ahead. Both parties had earlier claimed victory.

AK Party has said it will use its right to object to the results where there are voting irregularities. The deadline for appeals expires at 1200 GMT.

(Reporting by Ezgi Erkoyun; Editing by Alison Williams)

Source: OANN

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Capitals waive 2018 playoffs standout Smith-Pelly

NHL: Washington Capitals at San Jose Sharks
Feb 14, 2019; San Jose, CA, USA; Washington Capitals right wing Devante Smith-Pelly (25) fights for control of the puck against San Jose Sharks defenseman Tim Heed (72) during the third period at SAP Center at San Jose. Mandatory Credit: Stan Szeto-USA TODAY Sports

February 20, 2019

The Washington Capitals waived right winger Devante Smith-Pelly on Wednesday, cutting ties with one of the heroes of their run to the Stanley Cup last season.

Smith-Pelly scored seven goals in the postseason — matching his regular-season total — and tallied the game-tying goal during the Capitals’ Cup-clinching Game 5 victory over the Vegas Golden Knights.

Smith-Pelly had four goals and four assists in 54 games this season.

NHL teams have until noon ET Thursday to claim Smith-Pelly.

Coach Todd Reirden told reporters after Wednesday’s practice that the team had planned to waive forward Dmitrij Jaskin but changed its mind and decided to let go of Smith-Pelly.

The Capitals could be maneuvering for a trade, with the NHL deadline coming Monday.

“That is a little bit of what is going on behind the scenes here and that is something that we’ll keep obviously between ourselves at this point, especially with the amount of stuff that’s going on in the league right now,” Reirden said, via The Washington Post.

Smith-Pelly, 26, has played for four teams in eight NHL seasons. He has 44 goals and 57 assists in 395 career games. He was playing on a one-year, $1 million contract this season.

–Field Level Media

Source: OANN

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Mexico accounts for final 'ghost' prisoners at penal colony

As they closed down the last island penal colony in the hemisphere after more than a century, Mexican authorities faced a conundrum: they had lost track of 16 inmates registered at the Islas Marias prison.

Most were later located at other prisons on the mainland, Francisco Garduno, the head of Mexico's prison system, said Friday. They had apparently been transferred from the penal colony but not struck from its rolls.

But Garduno said two inmates were never found and are presumed to have escaped in a 2013 prison riot that killed six people.

It was unclear if the inmates tried to get to the mainland — historically, most who tried drowned in the attempt — or headed into the hills of the main island. There have long been rumors of escapees living on the island, known as "remontados."

Even some prison employees don't want to leave the main island, located 70 miles (110 kilometers) off the Pacific coast of Nayarit state.

Garduno said 117 of the 411 employees want to continue working on the island, which is scheduled to become a nature reserve and cultural center.

The last 652 inmates were transferred off the island in late February.

Source: Fox News World

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Tennis: Stephens swatted aside by Vogele at Indian Wells

FILE PHOTO: Tennis: BNP Paribas Open-Day 3
FILE PHOTO: Mar 6, 2019; Indian Wells, CA, USA; Sloane Stephens (USA) is interviewed by media during the WTA All-Access hour during the BNP Paribas Open at the Indian Wells Tennis Garden. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY Sports

March 8, 2019

By Rory Carroll

INDIAN WELLS, Calif. (Reuters) – Swiss qualifier Stefanie Vogele stunned world number four Sloane Stephens with a 6-3 6-0 win in their second-round match at the BNP Paribas Open on Friday as the American struggled amid gusting winds in the Southern California desert.

Vogele needed just over an hour to dispatch the fourth-seeded Stephens and push her overall record to 4-1 against the 2017 U.S. Open champion, who failed to make it past the tournament’s third round last year.

American Jennifer Brady defeated 19th-seeded Caroline Garcia 6-3 3-6 6-0 to punch her ticket to the third round.

The 23-year-old Brady thumped five aces en route to her third victory over the French this year.

Czech Marketa Vondrousova eased past an error-prone Daria Kasatkina 6-2 6-1.

With the loss the 14th-seeded Kasatkina, who was a finalist at the tournament last year, is projected to fall out of the top 20 when rankings are released after the tournament.

Garbine Muguruza broke American Lauren Davis for a speedy 6-1 6-3 win to send the Spanish 20th seed into the third round and keep her dreams of a maiden title in Indian Wells alive.

(Reporting by Rory Carroll; Editing by Ken Ferris)

Source: OANN

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For Love of Country

One week into his cross-country trip to visit 50 state capitols in 50 days, Mickey Straub felt deflated.

The inspirational author and management consultant thought to himself, “This trip is silly, as he munched on a peanut butter and jelly sandwich out of the trunk of his 1997 Lincoln Town Car.

Straub was in Annapolis, Maryland, 800-plus miles from home in Illinois. It was September 2012 and Barack Obama was running for a second term as president of the United States.

The trip had weighed on Straub’s heart for 10 years, but Obama’s second run pushed him to put things into motion.

His goal was to promote conservative ideals by invoking America’s unifying principles, something he felt was missing in the country at the time.

His method was to recite Abraham Lincoln’s Gettysburg Address at every state capitol in the country — and to do it in 50 days or less.

But that day in Annapolis was a struggle.

Straub was feeling lonely. He missed his wife and teenaged daughter. He was taking quite a bit of time off of work. He questioned why he would set such a lofty goal in such a short deadline.

“It was a wild-haired, bold, and brilliant idea,” said buddy John D. Morris, the founding director of the Ronald W. Reagan Society of Eureka College, who suggested Straub read the Gettysburg Address at each stop.

“At the time, I thought it was crazy, but there’s something so positively fun about it,” he added.

“What Mickey did, in invoking the great, honorably the greatest speech in American history, is so profound because it highlights the founding principles of this country during a very divisive time and goes back to our ideals.”

And at each capitol, something kept him going, starting in Annapolis. By that point, Morris noted, Straub had been away from home for three weeks, and “was being pushed to the limit both physically and emotionally, and I admired his grit.”

Naval Academy plebe David Gordeuk was walking by in his all-white midshipman uniform.

Straub took Gordeuk for dinner at a steakhouse and bought him coffee to thank him for his patriotism.

Gordeuk in return gave him invaluable advice: Focus on one thing at a time.

“That’s what I did the rest of the trip. I call him my Capitol Angel.”

His wife, Charmaine, a nurse, kept things at home running smoothly, with a daughter who was knee-deep in college applications and high school tennis.

Straub hired a personal trainer to help prepare him for the haul — 14,900 miles and close to 275 hours on the road — and purchased the 1997 Lincoln Town Car to symbolize America’s 16th president.

He started his trip in Pennsylvania, near Gettysburg, and finished at Lincoln’s tomb near the Illinois capitol in Springfield. Straub flew to Alaska and Hawaii, stayed in 33 hotel rooms, and spent about two hours in each capitol. He estimates the trip cost him more than $20,000.

Straub still gets emotional recalling the venture, and says he’s still as passionate about it now as then.

His efforts became part of the Congressional Record in November 2017.

“I launched the trip on behalf of God and country, but it was actually God and country that pulled me through,” he said. “My personal mission now is to live, love, inspire, and serve.”

The trip only took 44 days. He mostly lived off Subway’s tuna sandwiches, peanut butter and jelly, Starbucks, and plenty of healthy snacks. He lost 15 pounds on the trip, but gained an even deeper sense of faith and patriotism.

Straub, 61, grew up in Pennsylvania, where Lincoln’s famous 272-word address, delivered during the Civil War on the battlefield near Gettysburg, was etched into his fabric. He was always drawn to the Lincoln Memorial and mesmerized by Lincoln’s statue and his noteworthy words.

“Lincoln was all about freedom and liberty. He tried to unite us in ways that no speech has ever since. The word ‘I’ or ‘me’ is not in the Gettysburg Address — he refers to us collectively to try to unite us,” said Straub.

“And since many Republicans and Democrats claim Lincoln, I knew he would be a unifying factor.”

Straub worked for the Department of Defense in Washington, D.C., out of college, investigating military and defense personnel applying for secret and top-secret clearances. It was in Los Angeles, where he moved in the 1980s while working with Ryan Insurance Co., that he went from a Kennedy Democrat to a Reagan Republican, later moving to Chicago.

“Reagan was a true gentleman. He wanted us to work together. He embodied the true American dream,” said Straub.

His final move to Chicago was where he and Charmaine met.

“He worked hard, long hours. He was very ambitious, and all of that still applies today,” she recalled.

Politics grew more important as time went on and Straub, now president of Sales Activity Management, a Burr Ridge, Illinois-based company that provides sales management and coaching services to clients, got more involved to promote Reagan’s values after Obama was elected in 2008.

He became mayor of Burr Ridge in 2014 and was re-elected in 2017 — and in early 2018 unsuccessfully made a run for the state House of Representatives.

He resigned as mayor last November, mostly because of the time constraints — Straub was working 20-30 hours for a low stipend of $6,000 — and to focus on a book about his trip around the country.

“Abraham Lincoln united us like no other president, and in his Gettysburg Address, he never spoke about himself. He saved the nation.

“The Gettysburg Address contained within it the formula for our country’s future: God, liberty, unity, and patriotism. May it unite us again!”

Source: NewsMax America

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FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

April 26, 2019

By Aditi Shah and Abhirup Roy

NEW DELHI/MUMBAI (Reuters) – The grounding of India’s Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.

Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds.

The carrier’s descent into crisis has benefited international airlines in the form of rising fares and demand, data showed.

Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4 percent and 32 percent from a year ago, according to Indian travel portal MakeMyTrip Ltd.

In the peak travel months of May and June, fares to London have spiked as much as 36 percent and tickets to San Francisco are up nearly 20 percent from a year ago, according to data from travel portal Yatra.com.

“For the next three months it’s actually bonanza time for international players,” said Ashish Nainan, a research analyst at CARE Ratings. “At least until the middle of June, the fares are not going to come down.”

Due to rising demand, even before Jet’s lessors grounded planes, carriers such as British Airways, Cathay Pacific Airways Ltd, Singapore Airlines Ltd and United Airlines saw an up to a 27 percent increase in passenger numbers from India in the last quarter of 2018, data from India’s aviation regulator showed. That is the latest period for which the data is available.

India is one of the world’s fastest-growing aviation markets, clocking 15-20 percent domestic growth in recent years. It has long had only two full-service long-haul carriers, state-run Air India and Jet.

Jet is now hoping to be bailed out by a new investor, with final bids due on May 10.

INCREASING CAPACITY

Before its grounding, Jet had the biggest share of India’s outbound international air traffic, carrying 12 percent of the 7.8 million passengers headed overseas in the Oct-Dec quarter, down from 14 percent a year earlier, data from the Directorate General of Civil Aviation showed.

For an interactive graphic on Jet’s market share, click https://tmsnrt.rs/2WvDQYi

For an interactive graphic on average daily flights by the airline, click https://tmsnrt.rs/2FeFDel

The total number of passengers traveling overseas with Jet fell 10 percent during the last quarter of 2018 even as the outbound travel market grew about 5 percent.

Meanwhile, Singapore Airlines posted a 27 percent increase in passengers from India, Cathay registered 17 percent growth and British Airways saw a 10 percent rise in the same period.

Cathay said the events at Jet combined with increasing demand for travel had led it to deploy larger aircraft with more seats on some Indian routes.

“In the long term we would certainly like to be able to offer more capacity into India, not just on our existing routes but by establishing new services to secondary cities,” Cathay said in a statement.

Singapore Airlines, in an email to Reuters, said the Indian market is “very promising” but declined to give details of airfare levels or demand patterns in the wake of Jet’s exit, citing a quiet period before the release of its annual results.

DOMESTIC GAINS

Jet’s grounding has also had a big impact on the domestic market, with inter-city air fares to major cities such as New Delhi, Mumbai, Bengaluru and Kolkata soaring more than 20 percent in May and June, according to Yatra.com.

The spike in fares is expected to underpin strong earnings for IndiGo and SpiceJet Ltd, which are set to report results for the quarter ended March 31 in the coming weeks.

“Domestic Indian carriers are the main benefactors, but I suspect if Jet fails to be revived by May 10 then Vistara and other airlines that ply international routes, particularly the lucrative Gulf market, are the main winners,” said Shukor Yusof, the head of aviation consultancy Endau Analytics. Vistara is a joint venture of India’s Tata Sons and Singapore Airlines.

Inadequate bilateral traffic rights between India and other countries, however, could be an impediment to foreign carriers’ hopes of winning business lost by Jet, some analysts said.

“Even before Jet’s operational shutdown, international capacity was significantly constrained,” said Kapil Kaul, CEO for South Asia of consultancy CAPA. “We have now more serious capacity challenge … this is unlikely to be stabilized in the near term.”

A new national government likely to be in place sometime after elections end in May is expected to address the international capacity constraints, and once bilateral agreements are eased airlines including Emirates, Turkish and Qatar would immediately benefit, said Kaul.

“We would love to add more flights but we are at the limit of the allocation granted to us for traffic rights,” Emirates Chief Commercial Officer Thierry Antinori told reporters in Dubai on Wednesday.

(Additional reporting by Alexander Cornwell in Dubai, Jamie Freed in Singapore and Tanvi Mehta in Mumbai; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 8, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Pushkala Aripaka and Ankur Banerjee

(Reuters) – AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China.

Newer treatments such as lung cancer drug Tagrisso, now the company’s top selling medicine, have helped the drugmaker’s return to growth after years of crumbling sales due to patent losses on older drugs.

Sales in China have shown explosive growth, more than doubling since 2012, but AstraZeneca executives on Friday said that may not be sustained.

“The enormous growth you currently see in China, 28 percent, probably is not sustainable, but we feel very bullish that the growth will continue to be at a pace of between 15 percent and 20 percent,” Ruud Dobber, executive vice president, BioPharma, told Reuters.

Shares of the company were down 0.2 percent at 5,878 pence at 1031 GMT.

The turnaround in AstraZeneca’s fortunes has been powered by a push into cancer treatments led by Chief Executive Pascal Soriot, who saw off a 2014 takeover bid from Pfizer in part by promising annual sales of $45 billion by 2023.

In the first quarter, sales from its oncology unit rose 59 percent to $1.89 billion, accounting for 35 percent of total product sales.

The company has moved deeper into cancer therapy market through wide-ranging deals, including those for immunotherapy and targeted therapy. Last month, it agreed a multi-billion dollar oncology deal with Japan’s Daiichi Sankyo Co Ltd.

Interactive graphic on AZN’s top 10 drugs by sales – https://tmsnrt.rs/2W5XIRX

“We’re reaching that point where after years of having to keep faith, we have actually got something tangible to believe in,” Hargreaves Lansdown analyst Nicholas Hyett said.

AstraZeneca also backed its annual sales and earnings forecast and said it has extensively prepared for UK’s anticipated exit from the European Union, even in the event of a no-deal exit.

The company has already spent more than 40 million pounds ($52 million) on Brexit preparations, including stockpiling six weeks’ worth of drugs in the UK and four weeks in continental Europe to guard against shortages.

AstraZeneca said product sales rose 14 percent at constant currency to $5.47 billion in the quarter, led by its lung cancer drug Tagrisso and respiratory treatment Pulmicort.

Interactive graphic on AZN’s quarterly oncology sales – https://tmsnrt.rs/2W9tbCD

China sales increased by 28 percent to $1.24 billion in the quarter, accounting for nearly a quarter of overall product sales.

Core earnings came in at 89 cents per share in the quarter. Analysts on average were expecting core earnings of 85 cents per share and product sales of $5.29 billion, according to a company provided consensus of 19 analysts.

(Reporting by Pushkala Aripaka and Ankur Banerjee in Bengaluru; Editing by Bernard Orr/Keith Weir)

Source: OANN

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DNA Force Plus

149.95

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DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

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Source: InfoWars

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DNA Force Plus

Limited Advanced Release

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

https://www.infowarsstore.com/dna-force-plus.html?ims=jbdoh&utm_campaign=IWL-DNAForcePlus-20%25off-Widget&utm_source=Infowars+Widget&utm_medium=Banner&utm_content=Widget-DNFP-20%25off

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DNA Force Plus

149.95

119.96

DNA Force Plus is finally here! Now you can support optimal energy levels while adapting your body to handle the daily bombardment of toxins to overhaul your body’s cellular engines with a fan-favorite formula.

https://www.infowars.com/wp-content/uploads/2016/02/dna-210.jpg

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Source: InfoWars

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It’s the type of crime that doesn’t happen every day.

Police in the suburbs of Philadelphia say three suspects broke into a medical facility in Wynnewood, Pennsylvania, last Saturday and fled with 18 colonoscopies – devices used for examining the health of patients’ colons.

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

Suspects are seen leaving a medical facility in Wynnewood, Pa., allegedly carrying 18 colonoscopes worth about $450,000. (Lower Merion Police Department)

AMERICAN SUPERMODEL PAT CLEVELAND ‘STAYING STRONG’ FOLLOWING COLON CANCER DIAGNOSIS

The devices were reportedly worth a total of about $450,000, authorities said.

But police were perplexed about what the suspects might have planned to do with the instruments.

“This is not something that a typical pawn shop might accept,” Lower Merion Police Detective Sergeant Michael Vice told Philadelphia’s WCAU-TV. “My feeling would be that it was some type of black market sales.”

Such a market apparently does exist, Lower Merion Police Superintendent Michael J. McGrath told Philly.com.

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“They appeared to know precisely where to go, and they pried the door open,” McGrath said of the suspects, who were captured on surveillance video leaving the facility, carrying bulging backpacks.

Police are hoping the suspects will be caught in the end.

Source: Fox News National

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Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
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