In education circles, Tony Bennett is widely known as a hard-charging Republican reformer associated with Jeb Bush's prescriptions for fixing public schools: charter schools, private school vouchers, tying teacher pay to student test scores and grading schools on a A through F scale.
Bennett resigned from his post as Florida's education chief this morning when a controversy over the last of those things — the school grades — caught up with him.
House Republicans' plans to hold the line on federal spending and maintaining the cuts demanded by sequestration were thrown into doubt this week. Leaders abruptly pulled a transportation spending bill off the floor, prompting a rare public statement from the Republican chairman of the appropriations committee to lash out at the decision.
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In New York City today, a victory for the Securities and Exchange Commission: A federal jury held former Goldman Sachs trader Fabrice Tourre liable on six of the seven counts against him. The SEC had accused Tourre of intentionally misleading investors about a mortgage-backed security just as the housing sector was beginning to collapse. The investment created huge losses.
When it was launched Thursday, the Moto X, Google's first smartphone product to come out of its buyout of Motorola, was not the highest powered or highest pixeled device. Rather, the designers boasted of its usability — that the Moto X has a larger purpose: making the technology of a phone adapt to the way people use them, rather than force user behavior to adapt to the technology.
A couple of guys with serious investment banking experience are moving into the marijuana business. They've launched the first multimillion-dollar private equity fund devoted entirely to what they like to call the "cannabis space."
It started when Brendan Kennedy was working at the Silicon Valley Bank and learned of an entrepreneur who wanted to sell software for marijuana dispensaries. The idea piqued Kennedy's interest. A few days later, a radio show about legalizing pot piqued it even more.
A new homeless initiative in Hawaii is raising some eyebrows, and the department in charge of implementing it has concerns of its own.
As part of a larger housing bill in July, the state Legislature approved $100,000 per year for a three-year pilot project that would help get some homeless people off the island and back to their families on the mainland. Participants must leave voluntarily.
Originally published on Thu August 1, 2013 3:59 pm
A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.
Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.
Originally published on Fri August 2, 2013 2:01 pm
When Dippin' Dots emerged in 1987 with the slogan "Ice Cream of the Future," its liquid nitrogen-blasted pellets seemed about as cutting edge as ice cream could get.
But ice cream has come a long way since then. Now, ice cream revolutionaries are updating our notions of ice cream texture and flavor with bioengineering and sheer chutzpah. Welcome to the new future of ice cream.
Originally published on Thu August 1, 2013 4:48 pm
Every Sunday, hundreds of worshippers descend on the Sikh Temple of Wisconsin in Oak Creek, just south of Milwaukee. They come here to pray and to eat a weekly meal together, called a langar. On Aug. 5, 2012, as women were preparing the meal, a gunman opened fire, killing six people, including the temple president, a priest, fathers and a mother, before turning the gun on himself. Photos of the victims now hang in the lobby of the temple, called a gurdwara.