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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 25, 2011
Page
3
Congress and President Barack Obama move to cut the federal deficit, with the Congressional Budget Office projecting a drop to 1.28 trillion dollars this year and overall reductions of 3.3 trillion dollars over the next decade due to the debt ceiling package.
Dow rose to 11,320.71 while Nasdaq stood at 2,467.69 and the S&P 500 moved to 1,177.60. Treasuries show the 30-year yield at 3.61 percent. Corn, soybeans, wheat, and oil all posted declines with grains lower and crude easing to 85.16.
Steve Jobs, co founder of Apple, resigns as chief executive citing inability to meet duties. Tim Cook named new CEO. Jobs remains board chair and adviser. Genentech Chairman Art Levinson lauds Jobs while stock drops after hours. Industry observers say Cook now runs day to day operations.
In a health benefit exchange steering committee meeting Kansas insurers and providers urged continued planning for an exchange despite Governor Brownback's rejection of federal funds. Stakeholders argued foundations cannot fill gaps as uninsured totals exceed 300,000, while pessimism grows over Republican control and budgeting limits ahead of September briefings.
Twins Jack and Mollie face fear and hurt as their parents struggle with a costly time machine project. They return to a farm life with Dog waiting on the porch while the family debates selling the farm, moving in with grandparents, or risking discovery by the media.
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