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Former Pearson CEO Marjorie Scardino joins the Board of Directors of Twitter as its first female director. Scardino was the first woman to become CEO of a FTSE 100 company in the UK when she was appointed head of Pearson in 1997. Her reflection on the progress since then is one of disappointment. She told the Telegraph newspaper when she left Pearson that not much had changed in the 16 years since 1997, with few women on the board of directors, chairmen or CEO positions in the corporate world. Yoree Koh points out in this report that only 8.4% of Silicon Valley companies have women directors, according to an annual study put out in Dec. 2012 by the Universiy of California, Davis. About 40% of the tech companies in the S&P Composite 1500 index have no women on their boards, according to an Ernst & Young report.

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President Obama will nominate Jacob Lew for Treasury Secretary to replace Timothy Geithner. In making this decision Obama stayed within his close advisors. Lew has held firm in budget negotiations, at one point walking out, and at another point in negotiations of the last two years saying flatly Medicaid is off the table. This signals Obama is not going to give in to Republican demands without a fight. In picking the 57 year old Lew, Obama is choosing someone who has substantial experience in budget matters and in working with Democratic leaders, all the way back to working with Speaker Tip O'Neill from the Reagan days. He was head of the Office of Management and Budget, and is currently White House Chief of Staff. He was chief operating officer of Citi Global Wealth Management and Citi Alternative Investments for 2 years, which suffered large losses in the 2008 financial crisis, but was not closely involved in the way decisions on investing were made. He was brought to Citigroup by Robert Rubin, a former Treasury Secretary under Clinton....

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Hyundai says it can meet the 35 miles per gallon target for its automobile fleet by 2015 instead of 2020, 5 years ahead of schedule. It can do this without relying too much on hybrids, concentrating efforts in the direction of lighter materials, new engine and powertrain technologies such as direct injection, dual continuously variable valve timing, and eight speed automatic transmissions. And Hyundai can do this, says its head of R&D division, Lee Hyun-Soon, by increasing the price of the automobile by only a small amount. Lee says by increasing the cost of an automobile by a mere $100 or $200 a gain of 10% in fuel efficiency can be achieved. Meanwhile US automakers are arguing that the current requirements in a law signed by President Bush in December 2007 for 35mpg by 2020 is too stringent. The standard this year is 27.5 mpg for cars and 22.5 mpg for light trucks. See the group " Was America asleep at the spigot?"

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Applebaum describes the accounting errors in the Trump 2017 Budget which makes unrealistic assumptions of 3% growth to show higher revenue generation of $2.1 trillion over ten years, and uses that revenue to fix higher deficits from tax cuts- counting the same number twice. A former Treasury Secretary, Lawrence Summers, calls it the most egregious accounting error he has seen in 40 years.

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Janet Mills, 2 term governor, 78 years, fails to have poll lead over Plattner with local Maine bred identity in the 2026 Democratic primary. It says a lot about the voter attitudes in 2026 which want to steer forward not backwards. Janet Mills ran ads on Plattner but did not get the lead, leading to her withdrawal from the primary. Republican Susan Collins looks hard to dislodge from this seat. Republicans in Louisiana on the heels of the SCOTUS decision against gerrymandered electoral districts want to redraw the electoral districts so that Democrats are left out of the state Congressional delegation entirely.

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An outline of ways in which the Biden $1.9 trillion aid package will help ordinary Americans hit hard by the pandemic- the unemployed, people on low incomes, part time workers, the poor, and the struggling working class.

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Global aid to agriculture in developing countries is about $5 billion a year. Mr Obama made the decision to double U.S> aid to developing countries farmers to more than $1 billion ayear in 2010. THe NYT reports that with the G8 meeting in Italy in July, America will spend $3.5 billion dollars over 3 years for helping farmers in developing countries. This according to Michael Fromans, an Obama adminsitration official is going to be new money. As far as the other G8 countries are concerned it could include old money for the total $15 billion committed. Since the worst hit areas for agriculture are in Africa, and Africa has lost a lot of ground in development in the last 20 years, suffering neglect in aid to farmers over 20 years both form the American administrations and their own governments, it is surprising that the amount and the details for where it would go in Africa are not revealed. Mr Obama has grasped the need not just for shipping food assistance from the USA, but need to help farmers. He agrees with ANdrew Natsios former head of Agency of International Development, who says that most of the poorest people in developing countries are farmers and herders living in the countryside, the crux of any effort to improve their lives has to start with agriculture. Obama advocates using the "tried and true agricultural methodfs and technologies that are cheap and are efficient but can have huge impact" in the lives of people. Malawi, is a good example, say Prof. Sachs of Columbia University, as subsidies for fertilizer sharply increased food production. Sachs says it is possible to double or triple food production by giving small-holder farmers access to high yielding seeds, fertilizer and agricultural extension services. But more needs to be done and devloping countries themselves that have made progress like India, China and Brazil can provide their know-how and experts and should have been brought into this, which is another reason why there is no reason for a G-8 summit of countries of European origin. An enlarged organization can bring in the resources and ideas of all the major countries in the world, to especially bear in on Africa, where alot needs to be done. Just to get an idea the UN's Food and Agriculture Organization says the global economic crisis will put another 100 million people into facing hunger this year....

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The debate in the U.S. Congress about whether pandemic jobless benefits are deterring people from returning to work. Are extra $600 weekly payments affecting the way people return to work. The surge in the pandemic in many states in July could also be a factor. The extra weekly jobless benefits amount to about $18 billion a week and are set to expire unless Congress renews them.

The enhanced payments of about $15 an hour in the U.S. for a 40 hour week amount to $600, before regular state unemployment benefits are added in. Researchers say 68% of unemployed workers receive more benefits than they did working. Some of this added benefit during the pandemic helps people to stay home for work that involves contact with people such as in travel and food increasing risk of spread, which can be a good investment in prevention. In other work such that involves no contact or which can be done from home, there is good reason for incentives for gradual return to work.

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America will not long remember what happened in 2018 or 2024, but it can never forget the loss of literacy and cultural literacy from loss of reading comprehension, among American children, the basic building blocks for democracy or economic progress. This WSJ report by Randazzo and Barnum uses a lower bar for reading proficiency called the Basic. There is a second bar that is the Proficient Level for Reading Proficiency in NAEP test scores which is shown here. The US should strive for NAEP Proficient standard in Reading Comprehension not some Basic standard, to strive for leadership in a world that strives for NAEP Advanced. Only 8% of NAEP Test scores for 4th graders were at Advanced level in the US schools in 2024, only 31% making it to Proficient level standards. NAEP defines Basic as- "This level denotes partial mastery of prerequisite knowledge and skills that are fundamental for performance at the NAEP Proficient level." This is an inadequate standard and only leads to student in 4th grade struggling as readers in 9th grade leading to being not proficient for entry to college or skills programs for work. Dismal reading scores from before pandemic only get worse in 2025. Two thirds of American 4th graders across the 51 states, across urban, rural and suburbs fail to pass PROFICIENT reading levels on NAEP test scores in 2024. Lyrarc.com's Movement for Global Literacy was launched in 2016 in response to raise the reading comprehension and cultural literacy across America. This is across party lines, across gender, race, incomes and region- a goal for ALL AMERICANS and a basic entry point to meet the aspirations of all Americans for a better life through knowledge and education. 2024 NAEP Test results students performing 4 percentage points below the level in 2019 for 4th graders in reading comprehension. Thirty-one percent of fourth-grade students performed at or above the NAEP Proficient level on the 2024 NAEP reading assessment, which was 2 percentage points lower compared to 2022 and 4 percentage points lower than 2019. This WSJ report by Randazzo and Barnum uses a lower bar for reading proficiency called the Basic. There is a second bar that is the Proficient Level for Reading Proficiency in NAEP test scores which is what we are showing here. The US should drive for NAEP Proficient standard in Reading Comprehension not some Basic standard, to strive for leadership in a world that strives for NAEP Advanced. Only 8% of NAEP Test scores for 4th graders were at Advanced level in the US schools in 2024. NAEP defines Basic as- "This level denotes partial mastery of prerequisite knowledge and skills that are fundamental for performance at the NAEP Proficient level." This is an inadequate standard and only leads to student in 4th grade struggling as readers in 9th grade leading to being not proficient for entry to college or skills programs for work.   ...

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Yale endowment grows by $4.5 billion to $44.1 billion at 11% return in 2025. For 1000 students  offered no cost tution for undergrads this was about a $72 million cost in 2025 when tution is set at Yale at $72,000 a year for undergrads. Of 6800 undergrad students about 15% of students offered no cost tution at the cutoff income level of $75,000. This year the cutoff is set at $200,000. Even if this adds 1000 more students this will in 2026 cost Yale a mere $72 million, a tiny fraction of  1.6% of the total endowment gain of $4.5 billion in 2025. What this shows is that these top tier schools are still wanting to look good but are not really changing a highly flawed system. It is only in 2026 that a new law the Big Beautiful Bill of DJT increased tax on university endowments from 1.4% to 8%. Better that government can address the flawed education system with tax money than let the universities in the higher tiers make education less and less affordable, destroying a pillar of the democratic system of government by giving education to only a privileged few. ...