Word: plan
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...Gist: Kudos to California! On July 20, the Golden State finally cobbled together a plan to bridge its $26.3 billion budget gap, leaving North Carolina, Connecticut and Pennsylvania as the only states that have not yet reached an agreement. But before lawmakers start slapping backs, they should know that next year's budget crunch could be even tighter. Thanks to dwindling revenues, paltry collection rates and the economic storm soaking taxpayers, the $142.6 billion budget shortfall that states faced during the 2009 fiscal year is but one hurdle in a longer financial gauntlet, according to this bleak assessment from...
...that Citi had announced a profit, after many critics said the company was done for. In a press release, Citigroup CEO Vikram Pandit triumphantly said, "Our financial results today reflect the incredibly dedicated efforts of all of our people around the world and their success in implementing our plan...
Fong does not plan to press for financial compensation for the surviving victims of the state and federal laws in question, despite the Japanese-American precedent. More important than individual compensation, he says, is to help educate younger generations about the mistakes of the past. That said, Fong may ask for funding to help preserve the Angel Island immigration station, dilapidated after decades of neglect. To complicate matters, the station is located within a state park that, along with several others, may be shut down to help balance California's budget shortfall...
...kind of bill he would accept in the end - and what they should be trying to sell to their constituents. Who will be taxed to help pay for an initiative expected to cost $1 trillion or more over the next decade? Will it have a strong government-run "public plan" as an option? For whom? What kind of requirements will it impose on businesses to provide coverage for their workers? What will the bill do to bring down costs? Those are the kinds of questions lawmakers expect to be hearing from voters when they return home in August...
...Reva officials say they are improving their cars and plan to sell 8,000 vehicles next year after the new factory opens. In May, the company began equipping Revas with more-powerful lithium-ion batteries that increase range to 75 miles (120 km). A new model with sportier looks and upgraded electronics is expected to be launched by 2010. (Watch TIME's video about charging your electric car for 60 cents...