Newser Story Index from September, 2008
Welcome to the Newser Story Index. Here you find stories written by Newser writers and editors, assembled with supporting photos and videos from the files of the news story.
'Melodramatic' McCain Misfires
Time
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Sep 25, 2008 3:42 PM CDT
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John McCain’s actions yesterday only add to the already-lengthy list of the candidate’s rash overreactions, Joe Klein writes in Time . But this one was particularly poorly thought out, because "the legislative crisis was already receding when he made his melodramatic—and somewhat wild-eyed—suspension of campaign activities...
The Costco Effect: Buy Cheap, Spend (and Eat) More
Wall Street Journal
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Sep 25, 2008 3:30 PM CDT
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Sure, warehouse stores are cheap: one exec says Costco marks up product at around 10%, compared to 20% at normal supermarkets. But, Neal Templin wonders in the Wall Street Journal , do bulk purchases actually save you money? “When there are more bagels in my refrigerator, I consume more of them,” he writes. “I think that's human...
Stocks Climb Nearly 200 Points
MarketWatch
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Sep 25, 2008 3:15 PM CDT
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Stocks rallied this afternoon on news that lawmakers had reached a consensus on the Wall Street bailout plan, MarketWatch reports. Optimism proved infectious as GE rose 6.26% despite cutting an earnings estimate earlier today. The Dow climbed 196.89 points to 11,022.06. The Nasdaq gained 30.89 points, settling at 2,186.57, while the S&P 500 rose...
Gamble Seals Mac's Presidential Appeal
Weekly Standard
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Sep 25, 2008 2:56 PM CDT
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Senators and presidents have very different jobs—one debates and compromises, the other decides and acts. By suspending his campaign and heading to Washington, John McCain proves he’s a man of action, William Kristol writes in the Weekly Standard . The bold move might win over voters looking for the more “presidential” and...
Shareholders OK Delta-Northwest Merger
Atlanta Journal-Constitution
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Sep 25, 2008 2:45 PM CDT
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Shareholders of Delta and Northwest voted nearly unanimously today to approve the airlines' merger, the Atlanta Journal-Constitution reports. With shareholders in agreement, federal antitrust regulators must now approve the deal. A Justice Department decision is expected late this year, but labor issues remain. Dozens of workers protested today outside...
Bailout Standoff Brings Out Worst in Both Candidates
New York Times
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Sep 25, 2008 2:31 PM CDT
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The financial crisis is turning the presidential campaign into a “Goldilocks story," Gail Collins writes in the New York Times. McCain, “desperately reinventing his position every day,” has halted his campaign to focus on Wall Street, while Obama has coolly mentioned he may skip out on the rescue bill vote. Yet, so far, their...
Palin Considers Saturday Night Live Appearance
OK!
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Sep 25, 2008 2:22 PM CDT
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Sarah Palin may make an appearance on a Saturday Night Live , where she was so accurately mimicked by Tina Fey on the season premiere, OK! reports. The Republican’s security detail has already cased NBC’s studios in New York. Fey could also come back to reprise her role, setting the stage for a meeting a la the classic Janet Reno/Will...
Late-Night Stars Go Undercover
Entertainment Weekly
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Sep 25, 2008 2:11 PM CDT
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Taking their spoofing of TV into print, Stephen Colbert and Jon Stewart grace the cover of this week’s Entertainment Weekly in imitation of the Obamas-as-terrorists New Yorker cover that set media of all kinds afire in July. The stunt surely threatens to obscure the question-and-answer session it’s intended to advertise, but the duo...
McCain Casts Himself as Hero of Financial Crisis
Washington Post
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Sep 25, 2008 2:00 PM CDT
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In parachuting into Washington to "rescue" the $700-billion bailout for Wall Street, John McCain demonstrated again that he wants to make the election about himself, not his politicies, writes Harold Meyerson in the Washington Post . With the beleaguered economy an area where Barack Obama is seen as stronger, McCain suspended his campaign...
Fewer Blink at Prominent Ink
New York Times
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Sep 25, 2008 1:48 PM CDT
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Aggressively visible tattoos, like those on the neck and hands, are no longer the sole purview of ne’er-do-wells and pop stars, the New York Times reports. Until recently, most reputable tattoo artists wouldn’t dare cross the cuff or the collar of a subject with a straight job. But taboos are relaxing, and doctors, teachers and even models...
One Place Stalin Can Win a Popularity Contest? Russia
Wall Street Journal
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Sep 25, 2008 1:36 PM CDT
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An effort to celebrate Russian nationalism has turned up an uncomfortable number of votes for Josef Stalin, the Wall Street Journal reports. The dictator blamed for the deaths of millions of Russians often led during 3 months of Internet balloting for the nation’s top historical figure, but was pushed to 12th when organizers "adjusted"...
We Don't Really Need a Bailout
Washington Post
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Sep 25, 2008 1:22 PM CDT
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Now that all the big investment firms are no more, why exactly do we need a bailout? Paulson’s plan involves buying assets that are illiquid, but not worthless. “But regular banks hold assets like that all the time,” writes James Galbraith in the Washington Post. “They’re called ‘loans.’” Runs on non-investment...
Private Firms Hope to Haul NASA's Space Cargo
Washington Post
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Sep 25, 2008 1:10 PM CDT
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Hauling crew and equipment between earth and the international space station is expensive work, and NASA is looking to private entrepreneurs to pick up some of the slack, the Washington Post reports. Among the front-runners is Elon Musk, a founder of Paypal, who has seen his three prototype shuttles crash before they could make it into orbit.
Lawmakers: We Have a Deal
CQPolitics
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Sep 25, 2008 12:57 PM CDT
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The bipartisan group of legislators working on either a Wall Street bailout or a rescue package has reached "a fundamental agreement on a set of principles," Senate Banking Committee Chris Dodd said today. Racing to make a deal before a scheduled 4pm meeting at the White House, the lawmakers were optimistic the measure had enough support...
Senate OKs Civil Rights-Era Cold-Case Unit
Clarion-Ledger
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Sep 25, 2008 12:57 PM CDT
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The US Senate unanimously passed a bill that would open a Justice Department unit to re-examine civil-rights era killings that have gone unpunished, the Jackson (Miss.) Clarion-Ledger reports. The Emmett Till Act, named after the Chicago teen whose murderers confessed publicly, has also passed the House and will be signed by President Bush.
Political Ads Target Sports Fans
Wall Street Journal
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Sep 25, 2008 12:47 PM CDT
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John McCain and Barack Obama are betting on the Minnesota-Ohio State football game this weekend—but they’d rather score points with fans than on the field, the Wall Street Journal reports. The candidates are advertising on regional sports networks to reach swing voters, and hard-to-reach men, in seven states.
Troubled Son 'Outs' Celeb Architect
New York Post
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Sep 25, 2008 12:33 PM CDT
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Celebrity architect Richard Meier’s son claims his dad locked him up in a mental hospital and is trying to disinherit him for revealing that his 73-year-old dad is gay. Richard Meier's friends insist he's straight, but Joseph Meier plans to write a book "about my tragic experience with a gay father that didn't want to come out of the closet,"...
Barrymore, Gossip Boy Go Public
Us Weekly
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Sep 25, 2008 12:20 PM CDT
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Thirty-three-year-old Drew Barrymore has been pursuing 21-year-old Gossip Girl star Ed Westwick, Us Magazine reports. The pair was spotted in a clinch at a Kings of Leon concert Tuesday, their second New York rendezvous this week. The PDA continued until 6am, a witness reported, and "chemistry was there!"
Clerics to Defy IRS, Endorse Candidates From Pulpit
Los Angeles Times
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Sep 25, 2008 12:08 PM CDT
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Pastors from 22 states plan to purposely defy the IRS this Sunday by endorsing presidential candidates in their sermons, the LA Times reports. The so-called “pulpit initiative” aims to trigger a legal showdown, testing the constitutionality of the law forbidding such endorsements by tax-exempt groups. “There is nobody who will ever...
Tour OKs Armstrong Return
Associated Press
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Sep 25, 2008 11:56 AM CDT
(AP) -
Lance Armstrong can return to the Tour de France in 2009 if his team avoids doping scandals, the race director said today after the seven-time champion confirmed his comeback with the Astana squad. The team was barred from this year's Tour because of doping problems in the past. “They should be there if there are no ethical problems,” Christian...
Washington Wants to Know Who Replaces Hank
Washington Post
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Sep 25, 2008 11:43 AM CDT
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With the Treasury Secretary looking to get $700 billion to spend on the bailout, Washington is starting to focus on who might replace Henry Paulson when a new administration takes over in January, the Post reports. Neither candidate has given in to requests for names, but speculation has centered on Timothy Geithner for Barack Obama and John Thain...
Naked NY Man Falls to Death After Cops' Taser
New York Post
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Sep 25, 2008 11:30 AM CDT
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A naked man fell to his death yesterday in Brooklyn after police fired a Taser at him, the New York Post reports. The man, 35-year-old Iman Morales, had been ranting on a second-story fire escape. His mother begged police not to hurt him, saying he was sick, but when Morales began waving a fluorescent light tube, officers got the order to stun him.
Interim Prez Takes Reins in South Africa
BBC
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Sep 25, 2008 11:30 AM CDT
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Kgalema Motlanthe was sworn in as South Africa’s caretaker president today after winning three-quarters of a parliamentary ballot, the BBC reports. The left-leaning intellectual is seen as someone who can ease rifts between supporters of Jacob Zuma, head of the African National Congress party head, and former President Thabo Mbeki.
'Gordon Gekko': Wall Street Isn't Wall Street
Associated Press
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Sep 25, 2008 11:18 AM CDT
(AP) -
Questions from reporters apparently confused by the fantasy-reality divide forced Michael Douglas to explain yesterday that he isn't actually the investment banker he played in 1987's Wall Street . Although he won an Oscar for portraying "greed is good" proponent Gordon Gekko, he's not an expert on the current financial crisis, the actor-producer...
Even Times Crossword Puzzle Favors Obama
Politico
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Sep 25, 2008 11:04 AM CDT
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John McCain’s campaign chief looks to have been on to something when he accused the New York Times of being “in the tank” for Barack Obama; why else, David Levinson Wilk asks on Politico, would the paper’s crossword puzzle so thoroughly exclude John McCain? OBAMA has been the answer to three different clues since 2005, while...
Bailout Pact Appears Near
Wall Street Journal
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Sep 25, 2008 10:52 AM CDT
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Congressional leaders seem close to an agreement on the bailout bill, following a flurry of late-night activity, the Wall Street Journal reports. Democrats want to have all their ducks in a row before Barack Obama and John McCain meet with President Bush this afternoon, to ensure McCain gets no credit for the bill. Details remain scarce, but it appears...
Debate Allows Host Ole Miss to Show Progress on Race
Los Angeles Times
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Sep 25, 2008 10:48 AM CDT
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Assuming the presidential debate happens tomorrow, host University of Mississippi gets to show the nation it’s moved beyond its racially tinged past, the Los Angeles Times reports. The school, known for deadly riots when the first black student enrolled in the 1960s and controversy over Confederate flags at football games in the ‘90s,...
Pakistan Fires on US Choppers
Associated Press
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Sep 25, 2008 10:34 AM CDT
(AP) -
Pakistani troops fired at American reconnaissance helicopters patrolling the Afghan-Pakistan border today, heightening tensions as US steps up cross-border operations in a region known as a haven for extremists. Two American OH-58 reconnaissance helicopters were on a routine afternoon patrol in the province of Khost when they received small-arms fire...
For Buffett, Goldman Deal Was a Snap
Wall Street Journal
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Sep 25, 2008 10:29 AM CDT
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Billionaire Warren Buffett has been getting a lot of calls lately from struggling Wall Street firms looking for a savior, from Bear Stearns to Lehman Brothers to AIG. He’s turned them all down, the Wall Street Journal reports, but when Goldman Sachs called Tuesday, the Oracle of Omaha ponied up $5 billion within hours, on a gut feeling that...
'Terrorist Chic' Film Shocks Germany
Guardian (UK)
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Sep 25, 2008 10:14 AM CDT
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A controversial new film opening this week tackles the darkest chapter in Germany's postwar history: the bombings, kidnappings, and assassinations of a high-profile 1970s leftist group. The team behind The Baader-Meinhof Complex , which stars several of Germany's biggest celebrities, calls it an attempt to debunk myths about the gang. But victims'...
Media Focus Elsewhere Hurts Gulf Coast Relief Efforts
MSNBC
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Sep 25, 2008 10:01 AM CDT
(Newser) -
Relief organizations are struggling to raise funds for their work in hurricane-battered areas of Texas and Louisiana, a marked difference from 2005, when millions flowed in to help Katrina victims. “The camera and the lights didn't stay on” this time, a Red Cross worker tells MSNBC, distracted by fresher stories about the financial crisis...
Mac Spent $5,500 on Idol Artist
Us Weekly
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Sep 25, 2008 9:49 AM CDT
(Newser) -
John McCain has spent more than $5,500 for the prime-time expertise of an American Idol makeup artist so the 72-year-old can be camera-ready for his TV appearances, Us Weekly reports. Tifanie White, who's also worked on So You Think You Can Dance , used her beauty school tricks to the tune of $5,583.43, according to the Federal Election Commission.
Treasury Will Struggle to Value Mortgage Holdings
New York Times
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Sep 25, 2008 9:36 AM CDT
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When Treasury starts spending the $700 billion in bailout money it’s asking for, the big question is going to be how much to pay for assets that are toxic in part because no one can figure out what they're worth . The bundled and rebundled mortgage securities causing Wall Street tumult are hodgepodges of loans of varying quality, mostly low,...
Sovereign Funds, Foreign Leaders Sitting Out Bailout
Washington Post
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Sep 25, 2008 9:23 AM CDT
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Sovereign wealth funds that were eager to snap up US assets earlier this year are staying on the sidelines now, as the US crafts a massive financial rescue plan aimed at breaking up the logjams that have frozen credit markets, the Washington Post reports. Despite pleas from Treasury Secretary Henry Paulson to help prop up the financial system, foreign...
Internet Hookup Would Make Appliances More Efficient
GigaOm
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Sep 25, 2008 9:09 AM CDT
(Newser) -
Electric bill breaking the bank these days? Your fridge might be able to help, when developers start bringing Internet-ready appliances to market, GigaOm reports. Proactive dashboards could control energy usage to save money and conserve by telling wired appliances to reduce power during certain time periods without human input, and download new settings...
Eyes on DC, Stocks Lift at Bell
Wall Street Journal
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Sep 25, 2008 8:55 AM CDT
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An estimate cut from GE couldn’t keep the markets down this morning, as bailout optimism drove the Dow up 88 points, with the Nasdaq and S&P each raising 0.7%, the Wall Street Journal reports. GE slumped 4% premarket after cutting its third-quarter estimates, and predicted that “difficult conditions in the financial-services markets...
WaMu Looks to Private Equity as Bank Teeters
Wall Street Journal
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Sep 25, 2008 8:52 AM CDT
(Newser) -
Washington Mutual is hoping private equity will save the bank after its efforts to broker a sale to another financial institution came to nothing. Both the Carlyle Group and Blackstone are considering a takeover of WaMu, insiders tell the Wall Street Journal , although a deal is not yet assured. Many banks, from Santander in Spain to JPMorgan Chase...
Vintage Stars Got Big Bucks to Smoke
BBC
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Sep 25, 2008 8:47 AM CDT
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Almost all of Hollywood's big names from the '30s, '40s, and '50s were on the payroll of tobacco companies, the BBC reports. Documents released as part of anti-smoking lawsuits reveal that stars like Clark Gable, Gary Cooper, and Joan Crawford got up to $10,000 each from Lucky Strike in 1937—equivalent to $150,000 per head in today's money.
McCain Gamble Forces Both Noms' Hands
New York Times
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Sep 25, 2008 8:36 AM CDT
(Newser) -
John McCain’s dramatic suspension of his campaign has propelled himself and Barack Obama to positions of leadership in the financial crisis, writes Michael Cooper in the New York Times , ending their attempts “to float above” the bailout. But now, as members of their parties look to them, their decisions can affect not just presidential...
Kidnap Victim: 'It Was Worse Than Death'
People
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Sep 25, 2008 8:19 AM CDT
(Newser) -
A young kidnap victim sexually abused for 4 years said he feared every day for his life—and often thought death would have been easier, reports People . Shawn Hornbeck, now 17, speaks publicly for the first time about his ordeal in a CBS interview. What he endured would make "psychiatrists insane," he said. He was snatched off a Missouri...
Candidates Will Huddle With Bush on Bailout
CNN
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Sep 25, 2008 7:56 AM CDT
(Newser) -
Both presidential candidates will meet with George W. Bush for talks on the proposed $700 billion bailout of financial firms today, CNN reports. John McCain and Barack Obama released a joint statement on the financial crisis last night, agreeing that the plan was flawed but that "the effort to protect the American economy must not fail."
Gore Calls for Civil Disobedience Vs. Coal
Reuters
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Sep 25, 2008 7:28 AM CDT
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Earth defender Al Gore is calling for a campaign of civil disobedience and protest to halt construction of 48 coal plants that lack the technology to capture and store carbon, Reuters reports. "If you're a young person looking at the future of this planet, I believe we have reached the stage where it is time for civil disobedience," Gore...
Hillary: Bailout Must Help Homeowners
Wall Street Journal
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Sep 25, 2008 7:09 AM CDT
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As Congress debates the terms of the $700 billion bailout, Hillary Clinton warns in a Wall Street Journal op-ed that "this is not just a financial crisis; it's an economic crisis." For the New York senator, any federal action has to tackle the underlying causes of the turmoil—starting with the $3 trillion in mortgage debt that set...
Google Offers $10M for Ideas to Change World
Network World
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Sep 25, 2008 6:44 AM CDT
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Google, named for an astronomically large number, is celebrating its 10th anniversary with a call for ideas that could improve the lives of astronomically large numbers of people. Project 10100—pronounced '10 to the 100th'—seeks submissions from the public for world-changing ideas that the company will donate $10 million to develop. Submissions...
Rumors Spark Wild Run on Asian Bank
Financial Times (UK)
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Sep 25, 2008 6:24 AM CDT
(Newser) -
Rumors that the Bank of East Asia was in trouble spread like wildfire through Hong Kong yesterday, causing a panicked mob to descend on the bank as thousands withdrew their life savings, the Financial Times reports. Police moved in to keep order as crowds demanded their money. BEA's tycoon chairman blamed "malicious rumors" for the panic...
Japanese Protesters Greet US Nuke Ship
Reuters
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Sep 25, 2008 6:02 AM CDT
(Newser) -
Japanese protesters greeted a nuclear-powered American warship at its new home port near Tokyo today, Reuters reports. The USS George Washington drew criticism after reports last month than a US submarine had leaked radioactive material at Japanese ports for 2 years —underscoring the tense relationship between Japanese citizens and...
McCain Move 'Desperate', Say GOP Strategists
Washington Post
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Sep 25, 2008 5:46 AM CDT
(Newser) -
Republican leaders are publicly praising John McCain's decision to suspend his campaign and seek a postponement of this Friday's debate because of the economic crisis. But off the record, GOP strategists have been scathing about their nominee's latest surprise move. One Republican told the Washington Post it was "desperate and nuts," while...
Foreclosed Homeowners May Lose Voting Rights
New York Times
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Sep 25, 2008 5:15 AM CDT
(Newser) -
Many of the million Americans who lost their homes through foreclosure in the last couple of years may discover at the polls that they've lost their right to vote in the upcoming election as well, the New York Times reports. Election officials and voter rights groups fear that failure to update addresses will disqualify thousands. Democrats charge...
Britain to Ax Ban on Catholic Monarchs
Guardian (UK)
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Sep 25, 2008 4:41 AM CDT
(Newser) -
The British government is planning a royal shake-up of the laws governing who can become king or queen, the Guardian reports. The 300-year-old law currently in place bars Catholics or their spouses from taking the throne, and gives male heirs priority over women; both are targeted for change. Critics say the laws are firmly at odds with modern human...
Ala. Group Offers Jews $50K Move-In Bonus
CNN
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Sep 25, 2008 4:17 AM CDT
(Newser) -
A dwindling Alabama Jewish community is spending $1 million to stop itself from disappearing, as have many others in the South, CNN reports. A local group in the town of Dothan is offering a $50,000 shalom to Jewish families who choose to relocate to the community and hopes to attract at least 20. Ads in Jewish newspapers have met a huge response from...
