Hello and welcome to the mishmash.
I had to start with this. Over the past few months, more than 1,000 High Schools competed for the privilege of having president Obama delivering a commencement speech in their school. Between April 26th and April 29th, over 170,000 people weighed in on short videos and essay from the six finalists. President Obama selected the national winner from the three high schools with the highest average ratings, and on June 10 he'll travel to Kalamazoo Central High School in Michigan. I'll let those clips to tell the story much better.
First, here's Kalamazoo' terrific presentation:
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If the clip won't play, here's a direct link.
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This is what happened when the school reached the Final 3:
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And this is from today. The happiness of these kids just warms the heart:
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A shower of good economic news:
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U.S. factory orders show biggest gain in 9 years
May 4 (Bloomberg) -- Orders placed with U.S. factories unexpectedly rose in March, propelled by demand for capital equipment and petroleum that signals the U.S. expansion gained speed at the end of the first quarter.
The 1.3 percent increase in bookings matched the prior month’s gain, which was more than twice as large as previously estimated, the Commerce Department said today in Washington. Sales climbed 2.2 percent, the most since November 2007. Texas Instruments Inc. and Caterpillar Inc. are among companies ramping up output to meet rising foreign and domestic demand as the global economy rebounds from last year’s recession. Inventory replenishment and more jobs in the U.S. may prompt factories to keep boosting output in coming months.
"Manufacturing is very strong right now across a broad variety of industries," said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut. "We’re seeing a rebound in demand, both consumer and business spending have picked up and we’re getting that snapback effect where firms are having to raise production even faster than demand is picking up."
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Pending home sales rise 5.3 percent in March
WASHINGTON – The number of buyers who signed contracts to purchase homes surged more than expected in March, another sign that government incentives are propelling the housing market this spring.
The National Association of Realtors said Tuesday its seasonally adjusted index of sales agreements for previously occupied homes rose 5.3 percent from a month earlier to a reading of 102.9.
It was the highest level since October and a 21 percent increase from the same month a year earlier. February's reading was revised upward slightly to 97.7. Economists surveyed by Thomson Reuters had expected the index would rise 4 percent to 101.5.
The index provides an early measurement of sales activity because there is usually a one- to two- month lag between a sales contract and a completed deal.
Pending sales surged by 13 percent in the South, 2 percent in the West and 1 percent in the Midwest. They fell 3.3 percent in the Northeast.
The federal government has provided a big boost to home sales this spring by offering first-time buyers a tax credit of 10 percent of the purchase price, up to $8,000. There is also a credit of 10 percent, up to a maximum of $6,500, for homeowners who buy and move.
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Manufacturing grows at fastest pace in 6 years
NEW YORK - The U.S. manufacturing sector expanded at the fastest pace in nearly six years, as factories continue to lead the economy's rebound.
The Institute for Supply Management, a private trade group of purchasing executives, said Monday its manufacturing index rose to 60.4 in April from 59.6 in March. It's the ninth straight month of growth. A level above 50 indicates expansion.
It is the fastest pace of growth since June 2004 when the index was at 60.5.
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ISM said its employment index, which measures employers' willingness to hire, rose to 58.5, the strongest level since January 2005, from 55.1 in March.
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Consumer spending up
Consumer spending, which accounts for over two-thirds of economic activity, rose in March for a sixth straight month, the Commerce Department reported on Monday.
Consumer spending rose 0.6 percent after rising by an upwardly revised 0.5 percent in February, previously reported as a 0.3 percent gain, according to the Commerce Department report. Analysts had expected an increase of 0.6 percent in March.
The data preceded Friday's much-awaited U.S. April jobs report, expected to show an increase in employment gains from the prior month.
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Another huge shift, that gone completely unnoticed:
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US says it has 5,113 nuclear warheads
WASHINGTON – The United States has 5,113 nuclear warheads in its stockpile and "several thousand" more retired warheads awaiting the junkpile, the Pentagon said Monday in an unprecedented accounting of a secretive arsenal born in the Cold War and now shrinking rapidly.
The Obama administration disclosed the size of its atomic stockpile going back to 1962 as part of a campaign to get other nuclear nations to be more forthcoming, and to improve its bargaining position against the prospect of a nuclear Iran.
"We think it is in our national security interest to be as transparent as we can be about the nuclear program of the United States," Secretary of State Hillary Rodham Clinton told reporters at the United Nations, where she addressed a conference on containing the spread of atomic weapons.
The U.S. has previously regarded such details as top secret.
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The president called Times Square' heroes
President Obama has called and thanked the Times Square vendors who alerted the authorities on Saturday night about a failed car bomb, the White House says.
The president also has thanked the officers who responded -- Wayne Rhatigan and Pam Duffy.
Obama spoke with one of the vendors, Duane Jackson, who sells handbags, to "commend and thank him for his vigilance in alerting authorities," White House press secretary Robert Gibbs told reporters Monday.
On Tuesday morning, Obama called the other vendor, Lance Orton, who sells T-shirts, and the officers "to thank them for their vigilance," Gibbs said in a statement.
Duane Jackson (AP)
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Anthem Blue Cross gets the message
What a coincidence. One day after Anthem Blue Cross' parent, WellPoint, Inc. of Indianapolis, announced its obscene first-quarter earnings increase of 51 percent, the insurance giant informed Californians that it had made "inadvertent miscalculations" and would withdraw its equally obscene 39 percent proposed rate increase.
Anyone out there still think it's OK to leave insurance companies to their own devices?
It's hard to determine exactly who deserves the most credit for forcing Anthem's change of heart.
President Barack Obama's assault on the state's largest insurer during the health care debate got the ball rolling. Sen. Dianne Feinstein's proposed legislation calling for more stringent reviews of insurance company rate hikes deserves mention...
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Feds OK $775M to upgrade local bus service
WASHINGTON—The Obama administration says it's making $775 million available to local transit agencies to upgrade bus service, including buying new vehicles, retrofitting others and modernizing bus facilities...
...Transportation Secretary Ray LaHood said Monday the money will help transit agencies address a backlog of repairs and delayed maintenance, "but we still have a long way to go."
The administration sees providing alternatives to driving -- including buses -- as key to solving the nation's transportation woes.
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The White House released a new bunch of visitors records bringling the total number to 300,000.
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Photos by AP (Unless they're not....).
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President Obama receives an honorary degree of Doctor of Laws, before delivering the commencement address to University of Michigan graduates, at Michigan Stadium in Ann Arbor, Mich., May 1, 2010. (Official White House Photo by Pete Souza)
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The President delivers a commencement address to the University of Michigan 2010 class in Ann Arbor. (Official White House Photo by Pete Souza)
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Wwith Michigan Gov. Jennifer Granholm during the University of Michigan commencement ceremony. (Official White House Photo by Pete Souza)
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President Obama is briefed on the BP oil spill in the Gulf of Mexico, aboard Air Force One en route to New Orleans, La., Sunday, May 2, 2010. (Official White House Photo by Pete Souza)
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With Louisiana Gov. Bobby Jindal, after arriving at Louis Armstrong International Airport in New Orleans, La., Sunday, May 2, 2010. (Official White House Photo by Pete Souza)
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U.S. Coast Guard Commandant Admiral Thad Allen, who is serving as the National Incident Commander, and EPA Administrator Lisa Jackson, brief President Obama at the Coast Guard Venice Center, Venice, La., Sunday, May 2, 2010. (Official White House Photo by Pete Souza)
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Briefed at the Coast Guard Venice Center, in Venice, La.Pictured, from left, are U.S. Coast Guard Commandant Admiral Thad Allen, Assistant to the President for Homeland Security and Counterterrorism John Brennan, Chief of Staff Rahm Emanuel, and EPA Administrator Lisa Jackson. (Official White House Photo by Pete Souza)
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Delivers remarks in the rain, at the Coast Guard Venice Center in Venice, La., Sunday, , May 2, 2010. (Official White House Photo by Pete Souza)
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Talks with U.S. Coast Guard Commandant Admiral Thad Allen, and Louisiana Gov. Bobby Jindal, aboard Marine One as they fly along the coastline from Venice to New Orleans, La., May 2, 2010. John Brennan, Assistant to the President for Homeland Security and Counterterrorism, is in the background. (Official White House Photo by Pete Souza)
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And returns to the White House following his trip to Louisiana, Sunday, May 2, 2010. (Official White House Photo by Chuck Kennedy)
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Talking with business representatives during a meeting in the Oval Office prior to their Rose Garden event, April 30, 2010. (Official White House Photo by Pete Souza)
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On the phone with Israeli Prime Minister Benjamin Netanyahu, May 3, 2010. (Official White House Photo by Pete Souza)
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White House correspondents dinner:
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Quarterback Ricky Dobbs (C) of the US Naval Academy football team laughs with teammates as President Obama jokes about him during a ceremony where Obama presents the Commander in Chief trophy to the team in the East Room of the White House in Washington, DC, May 3, 2010
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Ross Pospisil of the US Naval Academy football team gives President Obama a team ring.
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Energy Secretary Steven Chu, accompanied by first lady Michelle Obama, gives the thumbs up after being referred to as a nerd during the 20th annual National Science Bowl, Monday, May 3, 2010 in Washington.
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First lady Michelle Obama laughs as she congratulates team members from North Carolina School of Science and Mathematics after they won the 20th annual National Science Bowl, Monday, May 3, 2010 in Washington.
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A billboard in the West Bank city of Ramallah, Monday, May 3, 2010.
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President Obama's step grandmother Sarah Obama, centre, is congratulated by Prof Ruth Oniango, right, Monday, May 3, 2010, during the Great Lakes University of Kisumu, Kenya, 4th Congregation where she was awarded a honorary doctorate degree for fighting for education in the community.