President Obama Laid out His Vison for the Upcoming Year During His Annual State of The

Keith: Hey everyone. It is Wednesday, January 21st. I am Keith Kocinski and Channel One News starts right now.

President Obama laid out his vison for the upcoming year during his annual State of the Union address last night. And Tom Hanson has the highlights of his speech.

Tom: Yeah Keith. Well, the State of the Union comes at a time when the president's approval rating is on its way up.

According to a recent poll, 50 percent of Americans approve of the job he is doing, the most in almost two years. And for the first time in his presidency, Obama faces a House and Senate that are both controlled by Republicans.

His big focus for this year: the economy.

Pres. Obama: The shadow of crisis has passed, and the state of the union is strong.

Tom: While it has improved since he stepped into office, Obama says the middle class still needs help. He proposed simplifying the tax rules so that wealthy Americans will pay more.

Pres. Obama: And let’s close the loopholes that lead to inequality by allowing the top 1 percent to avoid paying taxes on their accumulated wealth. We can use that money to help more families pay for childcare and send their kids to college.

Tom: The money would then be used to reduce taxes for the middle class and pay for free two-year college tuitions for some Americans.

Pres. Obama: That’s why I’m sending this Congress a bold new plan to lower the cost of community college to zero.

Tom: And another big push from Obama, foreign policy and growing terror threats.

Pres. Obama: First, we stand united with people around the world who’ve been targeted by terrorists, from a school in Pakistan to the streets of Paris. We will continue to hunt down terrorists and dismantle their networks.

Tom: The president also urged action to fight climate change.

Pres. Obama: And the best scientists in the world are all telling us that our activities are changing the climate. And if we don’t act forcefully, we’ll continue to see rising oceans, longer, hotter heat waves, dangerous droughts and floods, and massive disruptions that can trigger greater migration and conflict and hunger around the globe.

Tom: Now experts predict that with Republican controlled House and Senate, the odds of the president's proposals actually getting passed are pretty slim.

1 | P a g e Here's Senator Joni Ernst from Iowa with the Republican response to the president’s speech.

Sen. Ernst: Too often Washington responded with the same stale mindset that led to failed policies like Obamacare. It’s a mindset that gave us political talking points, not serious solutions.

That’s why the new Republican majority you elected started by reforming Congress to make it function again.

Tom: And while both sides talked about cooperation, the president vowed to use his veto powers to stop some Republican legislation he disagrees with.

So Keith, looks like it is going to be an interesting year.

Keith: Thanks Tom.

Alright, after the break, we take a look at what could be a problem for American efforts to combat the terror group al-Qaeda.

Let's take a look at some other headlines today. And we begin with an out of control and violent situation in Yemen.

The Middle Eastern country is known as a breeding ground for terrorists. And now it appears Yemen has no functioning government as rebels gain control.

Yesterday rebels stormed the presidential palace in the capital of Sanaa. The president is believed to have been in the residence at the time armed rebels shelled and stormed the palace. Officials say he was fine.

It was unclear if they intended to seize power or allow the president to remain in office. The attack comes after days of intense fighting between rebel groups and the Yemeni government, which is backed by the U.S.

Residents remain on edge as armed rebels roam the streets at Yemen’s capital city.

Instability in this country worries the U.S. and other Western nations because Yemen is already home base for many terrorists. Last week, al-Qaeda in Yemen claimed responsibility for the terror attacks in Paris, including the attack on the Charlie Hebdo newspaper.

Next up, cleanup is underway at the Yellowstone River in Montana as crews try to get contain an oil spill that has released thousands of gallons of crude oil into the river.

2 | P a g e The Montana pipeline burst over the weekend, sending more than 50 thousand gallons of oil gushing into the Yellowstone River, prompting the governor to declare a state of emergency.

Residents nearby have been told not to drink the tap water as cancer causing chemicals have been detected in the water supply. And they are being advised to drink bottled water.

The spill happened when the 12-inch pipeline, which crosses the Yellowstone River, ruptured on Saturday. Adding to the problems is the weather. The Yellowstone River is partially frozen, making it difficult to clean up the mess.

Alright coming up, one New York City teen is tapping into our fondness for footwear.

Imagine being 16 years old and featured in national magazine as an up-and-coming businessman. Well, that's what happened to Chase Reed, a teenager from New York who was named one of Forbes 30 people to watch under the age of 30, all because he took his passion and turned it into a business.

Shelby Holliday is back with his story on today's Generation Money.

Shelby: They're known as sneakerheads, collectors of flashy footwear whose passion goes all the way down to their sole.

And it is good news for 16- year-old Chase Reed, who is hoping to cash in on the cool kicks.

He had a money-making idea that started with his father…

Chase: I was spending all of my money on sneakers. So, when I wanted to hang out with friends or buy an outfit to match the sneakers, he would give me money and I would give him my sneakers.

Shelby: And you had to pay him back?

Chase: Yeah, and I had to pay him back. And then he would add interest. It was like business between me and my father.

Shelby: So together, they created a real business. The two transformed their Harlem apartment in New York into Sneaker Pawn, a store that specializes in high-end sneakers.

Chase: You can trade them, you can buy, sell, customize, refurbish.

Shelby: But what really sets them apart is they also allow you to pawn your shoes. If you need money you can bring in your new or lightly worn sneakers to the store,

3 | P a g e and they will give you a little less than the shoe's original retail price.

Chase: We basically give them what they paid. Say, if the sneaker was $180, we'll give them probably $160.

Sneaker Pawn then holds onto your shoes until you can afford to buy them back with a $30 a month storage fee tacked on as well.

Shelby: And if they don't come back?

Chase: And if they don't come back, the sneaker is ours. And they go off with their $160.

Shelby: And you can sell it?

Chase: Yeah. Now we have a $400 sneaker that we just paid $160.

Shelby: So you can sell it for more.

Chase: Yes.

Shelby: Sneakerheads have been a part of pop culture for over two decades.

Filmmaker, Spike Lee, and Michael Jordan, kicked off the movement in this Nike ad when they asked…

And since then, the shoe game has not been the same.

When Nike's limited edition Air Foamposite One went on sale last year, thousands of people lined up in advance, many of them hoping to resell the shoe.

In 2013, Americans spent $22 billion dollars on sneakers. But it is the resale market that’s really exploding. Sales on Ebay nearly doubled from 2012 to 2013.

Chase sold dozens of shoes in his own personal collection to help get his business up and running. But he hopes it is the demand for rare sneakers that will keep Sneaker Pawn on its feet.

Chase: The most expensive sneaker is the “Crown Jewels”.

Shelby: The Lebrons?

Chase: Yes. The Lebron 10's.

Shelby: How much are they worth?

4 | P a g e Chase: They were retailed at $185.

Shelby: Now they are reselling for more than $1,000. But Chase says, for him, Sneaker Pawn is more than just a business.

Chase: This is a place where we want sneakerheads to be born, and even if you’re not a sneakerhead, we want you to just be a part of the movement, part of the ambiance of the store.

Shelby: And while it is too soon to tell whether Sneaker Pawn is exactly what sneakerheads have been missing, he hopes that his investment will pay off every step of the way.

Chase: It’s just something about the sneaker game. It’s going to always be around.

Shelby: Shelby Holliday, Channel One News.

Keith: Thanks Shelby.

Ok, so for some cool ideas on how to make some extra cash, head over to ChannelOne.com.

Alright, we are out of time for now. But before we head out, I am going to toss it over to a former Channel One News anchor who has a birthday wish for us from halfway around the world.

Seth Doane: Hey guys. I am Seth Doane with CBS news, a correspondent based here in Beijing, China. I hear it is Channel One News’ 25th birthday.

I got my start at Channel One back in 2001 covering 9/11, and then got my first taste of international reporting through Channel One going to the front lines of Afghanistan that year; anyway, still doing that out here in the international world reporting. And just sending my very happiest birthday wishes from Beijing.

5 | P a g e