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VOL. CCLX NO. 118 * * * * * * *

SATURDAY/SUNDAY, NOVEMBER 17 - 18, 2012

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WEEKEND

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n The Dow industrials rose45.93 points to 12588.31 onFriday, reversing a morningslide, but the average is nowdown 755.20 points or 5.66%over the past four weeks. B5n Twinkies were beinghoarded by customers afterowner Hostess said that itwould close its bakeries andfire 18,000 workers. A1n Two banks settled SECcharges that they misled in-vestors on $1 billion of debtbacked by home loans. B1n Regional casino companyPenn National announced itis splitting its gambling andreal-estate operations. B4n Nintendo hopes to reverseits fortunes Sunday when itdebuts its first new video-game console in six years. B1n Activision said its “Call ofDuty: Black Ops II” video-game took in $500 million insales on its first day. B3n Tribune is expected toname Peter Liguori, a formerpresident of Fox Broadcast-ing, as its new CEO. B4n Netflix’s CEO disputed in-vestor Icahn’s statementthat the company should sellitself to a larger firm. B3n Ex-BBC chief Thompson istaking fire over when helearned about sex-abuse alle-gations against now-deadentertainer Jimmy Savile. B3

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InsideNOONAN A17

EgomaniaIn America’sTop Ranks

n Israel’s military readiedfor a Gaza ground invasion.Palestinian rockets strucknear Tel Aviv and Jerusalem,while Israel laid the ground-work for its first ground op-erations into Gaza since2009, calling up 75,000 re-servists. Neighboring Egyptescalated its own war ofwords against Israel. A9Egypt’s prime ministerQandil met with Hamas, ina bold show of support.n An oil and gas platformoff Louisiana’s coast ex-ploded, severely burning atleast four workers and leav-ing two of them missing. A3n Petraeus testified that hehad briefed members of Con-gress that there was “signifi-cant terrorist involvement”in the Sept. 11 attack on theU.S. consulate in Libya. A1n The two women at thecenter of the Petraeus scan-dal made social visits to staff-ers at the White House A6n The train crash that killedfour veterans in a Texas pa-rade drew scrutiny from U.S.and local investigators. Talesof heroism emerged. A4n Obama and congressionalleaders agreed Friday tomove quickly on talks to averta year-end fiscal crisis. A8n Obama’s historic visit toMyanmar this weekend ispart of a strategy to counter-balance China’s power. A12n Thousands of Jordaniansprotested for economic andother reforms. A10

WASHINGTON—Former Cen-tral Intelligence Agency DirectorDavid Petraeus said Friday thathe told Congress from the earli-est days that there was “signifi-cant terrorist involvement” inthe Sept. 11 attack on the U.S.consulate in Libya—adding tothe controversy over the admin-istration’s handling of the attack.

Mr. Petraeus, who resignedlast week after acknowledging an

extramarital affair, went to Con-gress on Friday to defend his oldagency’s role in the response tothe Benghazi, Libya, attack. Inhis closed-door testimony, hesaid that, in secret briefings withlawmakers soon after the attack,he had apprised them of thelikely involvement of a local mili-tant group, Ansar al-Sharia, saidRep. Peter King (R., N.Y.), de-scribing his comments.

Those comments rekindleddebate about the intelligencecommunity’s initial assessments

that the attack was a terroriststrike, and whether the Obamaadministration resisted calling ita terrorist act for political rea-sons.

The controversy also was ex-tended when some lawmakerssaid they had a different recol-lection of Mr. Petraeus’s earliercomments. Rep. King, who de-scribed Mr. Petraeus’s Friday tes-timony, said his recollection ofhis earlier conversations was dif-ferent.

“He said today that, at the

time, he was emphasizing therole of Ansar al-Sharia. But atthe time, my recollection is thathe was minimizing the role ofAnsar al-Sharia,’’ Mr. King toldreporters, referring to a localmilitant group sympathetic to alQaeda.

Mr. Petraeus spoke behindclosed doors Friday in long-awaited meetings with Houseand Senate intelligence commit-tee members. The Libya attackclaimed the lives of U.S. Ambas-sador Christopher Stevens and

three other Americans.Mr. Petraeus’s Friday testi-

mony, as outlined by lawmakerswho were present, was generallyconsistent with how U.S. officialshave described the shifting intel-ligence assessments of the con-sulate assault in interviews dat-ing back to the days after itoccurred. Still, his appearanceand testimony this week by topU.S. intelligence and law-enforce-ment officials haven’t bluntedquestions about the use of intel-

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BY SIOBHAN GORMANAND DEVLIN BARRETT

Petraeus Raised Terror LinkFormer CIA Chief, in Private Testimony, Prompts New Questions About Handling of Benghazi Attack

The seemingly imperishableTwinkie finally may have an ex-piration date.

Hostess Brands Inc., the 85-year-old maker of iconic treatssuch as Twinkies, Ding Dongs

and pantry staples like WonderBread, on Friday said it would goout of business after failing toreach agreement on wage andpension cuts with its bakers’union.

The Irving, Texas-based com-pany, which filed for Chapter 11for a second time in January,closed all factories and asked ajudge for permission to startproceedings that will mean joblosses for about 18,500 employ-ees and could result in morethan 30 brands being sold or dis-appearing. Liquidation firmGreat American Group Inc. andC. Dean Metropoulos & Co.,owner of beer brands includingPabst Blue Ribbon, have signaledinterest in Hostess’s brands.

The move endangers Ameri-can treats and snacks that havegraced supermarket shelves fordecades, but have had troublekeeping up with trends towardhealthier snacking. TheTwinkie—a sugary mix of richcream filling encased in a tubu-lar yellow cake—appeared oftenin lunchboxes and popular films.

It also showed organized la-bor’s willingness to test theboundaries of wage and benefitgivebacks. During and after the2008 financial crisis, auto work-ers and others readily agreed toconcessions deemed crucial forsurvival. But this year, workersat Caterpillar Inc. and Hostess

PleaseturntopageA6

By Rachel Feintzeig,Mike Spector

and Julie Jargon

TwinkieMakerHostessTo Close

SEA BRIGHT, N.J.—A week after Sandyburied this coastal town in six feet ofsand, a bus took residents to view the re-mains.

Small talk quickly turned to shock.“Dunkin’ Donuts is gone,” said one. “Ohmy God,” whispered a woman as theydrove up Ocean Avenue, the main dragthrough town. The business district wasdestroyed.

Finally, 77-year-old retiree Ira Korn-blut raised his fist. “We’re coming back,”he said, choking back tears. “We’re SeaBrighters!”

As towns up and down the easternseaboard take stock of tens of billions ofdollars in damage from one of the worststorms to hit the U.S., authorities andresidents speak publicly about their in-tent to rebuild.

“I promised to everybody that I wasspeaking on behalf of the country when Isaid we are going to be here until the re-building is complete, and I meant it,”President Barack Obama said Thursdayduring a visit to New York City’s batteredStaten Island.

But with the federal budget deep inthe red and government flood insurancestill straining to recover from Hurricane

Katrina, Sea Bright and other coastaltowns face questions over not just how torebuild in a way that defends lives andproperty against surging sea levels andmore intense storms, but whether to re-build at all.

Sandy’s destructive path has united anunlikely coalition of free-market thinktanks, environmentalists, business own-ers and insurers arguing the moral haz-ard of rebuilding in coastal zones thatmight best be returned to nature.

“It’s very difficult to get beyond thesympathy factor,” said Orrin Pilkey, acoastal geologist at Duke University. “But

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The Future Question for StormVictims: Can the Past Be Rebuilt?

BY CHRISTOPHER RHOADS AND LESLIE SCISM

Is Maya Cho in Love With Her Handsome Doctor?i i i

Open to the West Now, Myanmar Airs Curious Breed of TV Soaps

YANGON, Myanmar—“Wait,wait. What’s that buzzingnoise?” Something’s botheringHenri Delorme, a French consul-tant working on the set of a newMyanmar television comedycalled “Flowers and Butterflies.”“Is it a radio, orwhat?” he asks dur-ing a recent nightshoot, grabbing a pairof headphones andclasping them to hisears as the actorspause.

“It’s the monks,”says Dodie Gutierrez,his colleague fromthe Philippines.“There’s a Buddhisttemple nearby.They’re chanting.”

The two men ex-change a look and smile. “OK, itdoesn’t matter. Allez, allez!” Mr.Delorme yells.

Across the globe, multina-tional firms may be champing atthe bit over an entire nationthree times the size of Australia

opening its doors to Westernbusinesses after decades of mili-tary rule. But at least for someresidents of this country, alsoknown as Burma, a bigger issuemay be what’s going to happenon the next episode of “The Signof Love.”

Imagine, if you can, the dawnof the soap-opera erafor a nation of 64million, whose onlyoption in TV in thepast was watchingdreary army parades,stiff news shows andcarefully scriptedconcerts. Now, Myan-mar, with six state-run networks and oneprivate cable net-work, is trying toserve up a new breedof programming.

But it isn’t easy,whether it’s handling the logis-tics of churning out five epi-sodes in a week in a place stilllacking many modern conve-niences, or conforming to a cul-ture just developing its ownbrand of televised humor.

“We don’t have much exper-tise at the moment, so we haveto rely on outside help to getthings done,” says Winn Maw,chief executive at state-runMRTV-4’s production partner,Forever Group.

The commands spoken on theset of “Flowers and Butterflies”alone are mishmash of Myanmar,English and French, among oth-ers. Mr. Delorme, 48 years old,has worked on soap operas in In-donesia and the Philippines, andin many cases some of thesecountries are now exportingscriptwriters and productionmanagers to help other nationsnail the kind of juicy plotlinesand cliffhangers advertisersadore. Mr. Gutierrez, 34, hasworked on similar shows in thePhilippines, and has also helpedproduce programming for inter-national networks.

Together, they produced anangst-ridden drama looselybased on Romeo and Juliet

PleaseturntopageA12

BY JAMES HOOKWAY

Winn Maw

Dina Long, the mayor of Sea Bright, N.J., said of the mounds of splintered wood in her downtown: ‘Our businesses were wiped away.’

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Obama visits Myanmar, plusThailand and Cambodia.......... A12

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