Bush Praises Fed Action and Pushes Tax Cut
President-elect Bush welcomed the Federal Reserve’s half point rate cut as bold action to revive a stall economy while urging a broad tax cut to prevent a tailspin. He said monetary and fiscal reforms are needed, hosting about three dozen corporate leaders at the Stephen F. Austin Hotel in Austin.
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California utilities win modest rate hike for brief 90 day period
San Francisco with California's utility sector in crisis the PUC recommended emergency surcharges for PG&E and Southern California Edison. Residential bills rise about 9 percent and commercial rates 7 to 15 percent while the 90 day band is audited and refunds issued if not needed. Shares fell sharply on the news as the two utilities argue they near bankruptcy due to deregulation and high wholesale electricity costs.
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Monolith vanishes from Seattle park site
A 9-foot steel monolith appeared at Magnuson Park at dawn and disappeared by Wednesday. City spokesman Dave Hobanks noted candles left wax and a red rose at the cement base, with no tire tracks found and the delivery method unknown.
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Pledges Delay Teen Sex by About 18 Months Study Says
A Columbia Yale study finds teens who take abstinence pledges delay first sex about 18 months versus non pledgers. About 50 percent of pledgers remain virgins until age 20, with earlier pledges more effective in certain social contexts.
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Washington
Peter Bearman
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Yale University
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Pope John Paul II diagnosed with Parkinson's disease
In Rome, surgeon Gianfranco Fineschi states Pope John Paul II is suffering from Parkinson's disease after multiple operations and a fall in 1994. The pope, 80, should slow down and rest, the doctor added in an interview with an Italian weekly.
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Washington Post
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Gianfranco Fineschi
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