May, 27th News LA TIMES, REUTERS and NY TIMES Highlights on Metropolis Opinion

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Today’s Headlines on Los Angeles Times

* New generation of L.A.-area Latino leaders aren’t as friendly toward ‘amigo stores’

By Hector Becerra

Cities like Baldwin Park are turning away from ethnic-oriented retail projects in favor of mainstream businesses. Starbucks is welcome.

* Account of cash for Olmert rivets Israel

By Richard Boudreaux

The testimony of a U.S. contributor that he gave the future premier cash increases the sense among Israelis that Olmert’s days are numbered.

* Supreme Court gives workers protection from retaliation

By David G. Savage

The justices rule that employees who say they were punished for complaining of bias can sue for damages.

* Senate Republicans block plan to improve medical care in California prisons

By Michael Rothfeld

Federal receiver could take $7 billion from state rather than borrow money if Republicans don’t change their minds.

* Lead exposure in children linked to violent crime

By Thomas H. Maugh II and Marla Cone

A study finds that even low levels can permanently damage the brain. The research also shows that exposure is a continuing problem despite efforts to minimize it.

* Tagger whose work allegedly appears on YouTube is arrested

By Andrew Blankstein

‘Buket’ is responsible for $150,000 in property damage in the L.A. area, authorities say.

Today Business on New York Times.Com

* Realtors Agree to Stop Blocking Web Listings


The agreement settles a Justice Department lawsuit against real estate agents who were accused of illegally blocking Internet-based brokers from accessing home listings.More…

* Chief of Vodafone Unexpectedly Resigns


The company announced the resignation of Arun Sarin, who led Vodafone’s expansion into emerging markets like India, Turkey and the Czech Republic, as it posted a profit for the year.

* Measure of Consumer Mood Hits 16-Year Low


Soaring gas prices and weakening job prospects left shoppers gloomier about the economy in May, sending a key barometer of consumer sentiment to its lowest level in almost 16 years.

* Stocks Higher After Home Sales and Consumer Data


Wall Street gained in uncertain trading as investors sifted through a government report that showed the first gain in new home sales in six months and a disappointing reading on consumer confidence.

* Investors Criticize French Bank Chief for Losses


At Société Générale’s annual meeting, several investors called for the resignation of the chairman, Daniel Bouton, and accused management of transforming the bank into a casino.

Today Reuters Headline on Metropolis Opinion

* Single-family home prices tumble in March

May 27, 2008 04:35 PM ET

WASHINGTON (Reuters) – Prices of U.S. single-family homes plunged a record 14.4 percent in March from a year earlier, while consumer confidence slumped to its lowest in 16 years in May as gasoline prices surged.

* Stocks end higher on tech, lower oil prices

May 27, 2008 04:12 PM ET

NEW YORK (Reuters) – Stocks ended higher on Tuesday, led by technology companies such as Apple Inc , as a sharp drop in crude oil prices rekindled hopes of increased consumer and business spending on tech gear.

* GM, Ford stock extend slide on dimming outlook

May 27, 2008 04:14 PM ET

DETROIT (Reuters) – Shares of General Motors Corp slumped to a 27-year low, while smaller rival Ford Motor Co hit a new six-week low on Tuesday as analysts warned the U.S. auto market could remain weak well into 2009.

* InBev weighs Anheuser bid but no talks yet

May 27, 2008 04:22 PM ET

BRUSSELS/PHILADELPHIA (Reuters) – InBev has not yet begun merger talks with Anheuser-Busch Cos Inc but is still weighing an acquisition of the U.S. brewer, a source familiar with the situation said on Tuesday.

* SocGen chairman booed over Kerviel affair

May 27, 2008 03:27 PM ET

PARIS (Reuters) – Angry shareholders booed the chairman of Societe Generale on Tuesday and likened the French bank to a “casino” after it fell victim to the world’s biggest rogue trading scandal.

* Vodafone rings the changes with Sarin departure

May 27, 2008 11:35 AM ET

* LONDON (Reuters) – Arun Sarin, the chief executive who safeguarded Vodafone’s dominance among mobile operators by expanding into emerging markets, announced his departure on Tuesday, saying he had achieved all he had set out to do.
* Consumer confidence hits 16-year low in May

May 27, 2008 10:19 AM ET

NEW YORK (Reuters) – Consumer confidence plunged unexpectedly to its lowest in 16 years in May as rising gasoline costs and falling home prices made Americans nervous about the future, a survey released on Tuesday showed.

* Fed will not allow inflation to spiral: Yellen

May 27, 2008 03:43 PM ET

SAN FRANCISCO (Reuters) – The Federal Reserve will not repeat the policy mistakes of the 1970s by letting inflation spiral out of control, San Francisco Federal Reserve Bank President Janet Yellen said on Tuesday.

* Market for securing mobile devices yet to take off

May 27, 2008 01:40 PM ET

BOSTON (Reuters) – The market for software to protect mobile devices such as smartphones has yet to take off despite brisk sales of devices such as Research in Motion Ltd’s BlackBerry and Apple Inc’s iPhone.

* Bernstein cuts Lehman, Goldman, M.Stanley earnings view

May 27, 2008 12:03 PM ET

(Reuters) – Sanford C. Bernstein slashed its earnings outlook for Lehman Brothers Holdings Inc , Goldman Sachs Group Inc and Morgan Stanley to reflect weaker fixed income sales and trading results, and a tough investment banking environment.

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