Obama's Bid To Spur Growth (WSJ)
President Barack Obama called on Congress Thursday to pass a $447 billion package of spending initiatives and tax cuts to boost economic growth, in what might be the White House's last chance to revive its political fortunes before the 2012 campaign kicks into high gear. More than half of Mr. Obama's plan consists of payroll-tax cuts for employees and employers—an idea the White House hopes will appeal enough to Republican lawmakers—and is the policy that could have the best chance to pass. Among other measures, the president also called for more than $62 billion in spending to extend unemployment insurance benefits through 2012 and fund programs to alleviate long-term joblessness. He also proposed $140 billion in infrastructure spending and aid to states.
Obama May Ease Rules for Technology Innovators to Create Jobs (Bloomberg)
The administration will work with the Securities and Exchange Commission to review rules, including those put in place by the Sarbanes-Oxley Act passed in 2002 to impose stricter accounting rules, Tom Kalil, senior adviser for science, technology and innovation for the White House National Economic Council, said yesterday in a conference call with reporters in Washington.
A Powerful Obama Speech (CNBC)
El-Erian: "Democrats and Republicans now have a choice. They can either coalesce around the President's program, drawing comfort from individual elements that appeal to them; or they can hold out for more and, in the process, turn the pursuit of their personal best into an enemy of the public good. At long last, President Obama did enough this evening to upgrade the quality of the nation's economic debate. He presented a credible program that is focused on the right structural areas. Now he must strengthen it and complement it with a sensible fiscal component; and Congress must discuss it in a cooperative and constructive manner."
“Fuck,” Carol Bartz: A Brief History of Yahoo’s Ousted CEO (NYO)
January 25, 2009, to all Yahoo employees: A threat to “Drop kick them to fucking Mars.” April 21, 2009, to all Yahoo investors: There’s “nobody fucking doing anything.” May 24, 2010, to TechCrunch’s Michael Arrington: “Fuck off.”
Bernanke Says Tighter Budget May Hurt Growth (Bloomberg)
“A substantial fiscal consolidation in the shorter term could add to the headwinds facing economic growth and hiring,” Bernanke said in a speech yesterday in Minneapolis, repeating many points in his address last month in Jackson Hole, Wyoming.
Lagarde Warns Of Economic Risks (WSJ)
"The bottom line is that global activity has slowed and downside risks have increased, and at the same time the global rebalancing in demand that we were all expecting for sustainable growth to take place has stalled," she said at a panel discussion about the global economy at the Chatham House.
Officials Say Credible US Threat Detected (AP)
A source told WNBC the information related to a plan to set off car or truck bombs in Washington or New York around the time of the 9/11 anniversary.
UARS Re-Entry Overview (NASA)
NASA's Upper Atmosphere Research Satellite, or UARS, is expected to re-enter Earth's atmosphere in late September or early October 2011, almost six years after the end of a productive scientific life. Although the spacecraft will break into pieces during re-entry, not all of it will burn up in the atmosphere.
Lulu Lemon Envy Has Chains Embracing Yoga (Bloomberg)
While yoga has been around for millennia, Lululemon “helped turn it into a social thing for women by making them feel like they looked good while doing it,” says Jill Miller, a Los Angeles yoga instructor.
Asia Prepares for Flows as West Looks to Reflate (Reuters)
Four central banks — Indonesia, Malaysia, the Philippines and South Korea — held rates steady at reviews on Thursday, citing the uncertainty over global growth..."It's better that it comes in than it goes out, but surging capital flows in either direction create problems for the authorities," said Tim Condon, head of Asia research at ING in Singapore.
Charlie Sheen to star in movie that mirrors actor's life (NYDN)
The actor is set to star with actor Jason Schwartzman in the indie flick "A Glimpse Inside the Mind of Charlie Swan III," his manager, Mark Burg, confirmed. The plot, according to Variety.com, will mirror some of the skirt-chasing star's real-life misadventures. It follows a 'charismatic chick-magnet' who falls into a downward spiral when his girlfriend breaks up with him, Variety said.