Good Morning! Today’s edition is 1,093 words, a 4-minute read.

What’s on tap: 

• South Korean adoption scandal

• Alaska plane crash rescue

• Walter the Alligator’s vigil

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Big Story

Dollar Tree Offloads Family Dollar

Dollar Tree is selling Family Dollar for $1 billion to private equity firms Brigade Capital and Macellum Capital.

• Dollar Tree will eat a staggering $7 billion loss on its original $8 billion purchase from ten years ago. CEO Mike Creedon did his best to reframe the sale, calling it "a major milestone" that will help Dollar Tree "fully achieve our potential" by focusing on its core business.

• The merger was troubled from the start. "Dollar Tree bit off far more than it could chew," according to GlobalData's Neil Saunders. Supply chain issues, poor store locations, and operational difficulties plagued the relationship. The companies proved to be "two different businesses with limited synergies," Creedon admitted.

• Hundreds of store closures have already been announced, with more possible under new ownership. Access to affordable essentials could become more challenging in underserved urban areas where Family Dollar alternatives often offer less selection at higher prices.

Big Story

Ghost Gun Regulation

The US Supreme Court ruled 7-2 on Wednesday to uphold a Biden administration regulation targeting untraceable "ghost guns."

• The court found that ghost guns can be regulated under the federal Gun Control Act. Conservative Justice Neil Gorsuch, writing for the majority, said the court had "no trouble rejecting" challengers' arguments. The ruling resolves whether these kits, which allow people to assemble firearms from online-purchased parts, can be regulated like other firearms.

• The regulation, issued by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), has been in effect since August 2022. It requires manufacturers and sellers of firearms kits and parts to obtain licenses, mark products with serial numbers, conduct background checks, and maintain sales records.

• However, Gorsuch indicated the ruling is limited, suggesting products requiring "sufficient time, tools and expertise" to create a gun might not be covered.

Big Story

South Korea Adoption Disgrace

A landmark inquiry by South Korea's Truth and Reconciliation Commission has found that the government committed numerous human rights violations in a program that sent at least 170,000 children abroad for adoption.

• After the Korean War, South Korean officials viewed foreign adoptions as a cheaper alternative to building a welfare system for needy children. Its government gave private agencies extensive rights to transfer children abroad quickly with little oversight.

• The investigation examined 367 petitions filed by adoptees sent overseas to Europe, the United States, and Australia between 1964 and 1999. Fifty-six of the first 100 cases were recognized as victims of human rights violations.

• The commission uncovered multiple horrific practices: babies falsely registered as orphans despite having known parents, identity tampering, inadequate vetting of adoptive parents, and even substituting different babies when infants died before overseas transport.

• Truth and Reconciliation recommended an official government apology, follow-up investigations, and relief measures for victims. South Korea has already begun reform efforts, significantly reducing foreign adoptions to just 79 cases in 2023."

• However, victim adoptees say the recommendations and reform aren’t enough. They want a total ban on foreign adoptions and government compensation without “having to go through lawsuits.”

Quick Stories

U.S. News

• Trump just announced 25% tariffs on all foreign-made cars starting April 3, while cars built in the US face zero tariffs. White House aide Will Scharf said the tariffs will bring in “over $100 billion of new annual revenue.” (More)

• A pilot and two young girls survived 12 hours clinging to a wing in an icy Alaska lake after their plane crashed. They were rescued Monday when volunteer searcher Terry Godes spotted the wreckage. (More)

• Democrat James Malone upset Republican Josh Parsons to win Pennsylvania's Senate District 36, flipping a Trump-supporting district. Malone will complete Ryan Aument's term, who resigned to work for Senator McCormick. (More)

World

• The EU wants citizens to stockpile supplies for 72-hour emergencies while it boosts critical equipment reserves. Their new strategy prepares for everything from natural disasters to potential armed attacks on member states. (More)

• South Korea resumed helicopter firefighting after a deadly crash briefly grounded aircraft. Crews battle wildfires that have killed 24 people, destroyed an ancient temple, and claimed a pilot's life in Uiseong County. (More)

• Reliance Industries will stop buying Venezuelan oil after US imposed a 25% tariff on purchases from the country. The Indian conglomerate had been importing 2 million barrels monthly with US approval. (More)

Business & Economy

• U.S. stock markets closed lower on Wednesday (S&P -1.12%, Nasdaq -2.04%, Dow -0.31%). Tech stocks and potential trade tariffs drove the market lower. (More)

• Stephen Curry and Michelle Obama have partnered to launch Plezi Hydration, a healthier sports drink. The venture adds to Curry's growing business portfolio as the 37-year-old NBA star approaches retirement. (More)

• Delaware passed a law giving corporate board members more leeway in conflict-of-interest situations and making it harder for investors to inspect company records—all to prevent more Fortune 500 businesses from leaving. (More)

Sports & Entertainment

• Marvel announced the star-studded cast for "Avengers: Doomsday," including Chris Hemsworth, Anthony Mackie as Captain America, and returning favorites Paul Rudd, Tom Hiddleston, Letitia Wright, and Sebastian Stan. (More)

• Teenager Alexandra Eala shocked world #2 Iga Swiatek 6-2, 7-5 at the Miami Open, becoming the first player from the Philippines to reach a Women’s Tennis Association 1000 semi-final. She beat three grand slam winners during the tournament. (More)

• Milwaukee Bucks star Damian Lillard is out indefinitely with a blood clot in his right calf. The 34-year-old is taking blood thinners that have stabilized the condition. (More)

Science, Health, & Tech

• A genetically modified pig liver successfully functioned in a brain-dead patient for 10 days in a Chinese experimental surgery. The advancement could provide temporary support for transplant waitlist patients. (More)

• Scientists have recorded sharks making sounds for the first time. This challenges the long-held belief that sharks are completely silent predators. (More)

• OpenAI has launched "Images in ChatGPT," letting users generate images directly within conversations using GPT-4o. It’s available across all subscription tiers, but free users have limited daily generations. (More)

Extra Credit

🐊 South Carolina apartment complex has vigil for Walter the Alligator.

✈️ Airplane turns back because the pilot forgot his passport.

🦵 How old is your body? Stand on one leg to find out.

💼 Why Americans are working less.