More on news that Johns Hopkins Hospital will pay $190 million in a settlement to victims of a gynecologist who secretly filmed patients' exams. Plus, a look at sales of existing homes in June -- With that number having increased in May, it's expected to continue an upward trend. Plus, a conversation with Beth Macy, author of "Factory Man," which tells the story of an American furniture company that managed to stay open even in the face of the competition shipping jobs overseas.
Ukrainian officials said they hoped to fly the remains to the Netherlands for identification. Most of the passengers who died on the plane were Dutch.
When a community needs to build a new school or a jail, it sells bonds on the municipal bond market. The bonds are a city’s promise to pay. But if one city doesn’t pay up in full, does bond money dry up for everybody else?
“I think it depends a lot on the city,” says Kim Rueben, a public finance economist at the Urban Institute.
Rueben says some Michigan cities have to pay a premium in the bond market because they’re in the same state as Detroit. Many of them have the same problems. Ditto for some rustbelt, Midwestern cities:
"So, other places that are seeing similar demographic trends, in terms of aging populations and declining populations,” says Rueben.
What about cities without these problems? They can still sell bonds, but they have to work harder, according to Lisa Washburn, managing director of Municipal Market Advisers, a bond research company.
Washburn says investors are justifiably skeptical: “So you want to know ahead of time what kind of risk you’re taking on.”
Still, Washburn says, there is a lot of demand for municipal bonds. Once investors decide they’re safe, that is.
The Community Eligibility Provision, part of the National School Lunch Program, was signed into law by Barack Obama in 2010. It enables school districts in which 40 percent of children or more are eligible for free lunches to skip paperwork requirements and offer free meals to all students, regardless of their household income. Some educators say the provision could lower stress levels for low-income kids and help them focus on learning.
"Sometimes they worry about not having enough money to pay for their meal," says Dora Rivas, Executive Director of the Food and Child Nutrition Program for the Dallas Independent School District. "I think this is going to be a great benefit to them."
Rivas adds that paying for meals for all students in the district means officials will no longer have to spend time and money processing papers for families applying for the lunch benefits.
"Our funds are going to producing the meal instead of all the paperwork," she says.
The National School Lunch Program costs the government nearly $12 billion a year, a reflection of a troubled economy in which many working parents are unable to make ends meet.
"Most of the kids in the free and reduced price meals program are kids whose parents are working, working full time at very low wages, or working part time," says Jim Weill, president of the Food Research and Action Center. On an average school day, Weill says, some 21.5 million kids eat a free or reduced-price lunch.