Google Inc. is installing a new CEO, following Eric Schmidt stepping down from the post. Larry Page, the new CEO, was one of the founders of Google and developed the PageRank algorithm. Page will have to lead Google in new innovations to keep pace with the many new web-based companies, such as Facebook.
Facebook is continuing to raise money from investors, with a recent transaction bolstering their accounts by $1.5 billion. The money will be put into investments and used to expand its operations. The company has been valued at roughly $50 billion by Goldman Sachs Group.
Chinese president Hu Jintao is pursuing closer ties with the US in his visit to Washington, D.C., President Hu requested that the US and China engage in more high-grade technology exchanges, which have been locked down by US lawmakers due to their possible use in weapons manufacture.
The primary aid organization in Pakistan is facing challenges in providing aid to Pakistanis affected by war. Due to complications in cooperation with the military in Pakistan, only about two-thirds of the $1.2 billion appropriated by congress has actually reached Pakistanis.
The pharmaceutical company responsible for manufacturing the anesthetic used in lethal injection drug cocktails has permanently halted production of the drug. Hospira, who manufactures thiopental sodium, has decided to halt production because of manufacturing defects.
Chipotle is dealing with an outcry from those affected by the recent firing of a number of employees in Minnesota. The firings are a result of an audit by the US Immigration and Customs Enforcement agency. The Audit followed suspicions that many of Chiptole’s employees falsified their immigration documents.
Two t-shirts found along the Martin Luther King, Jr., day parade in Spokane, Washington, were found to contain a bomb. The FBI took care of the bomb, which was with the T-shirts in a backpack.
Arizona Governor Jan Brewer singed a bill that would eliminate nearly 300,000 people from medicaid. The emergency measure is being used to help the state try to balance its growing debt, and following President Obama’s signing on the bill, would save the state $545 million dollars. This measure is being taken to try to eliminate the $1.1 billion budget gap for the next fiscal year.
A new study by the Social Science Research Council shows that US universities are dropping the ball in education. Some 45% of U.S. undergraduates are not showing significant improvement on a critical-thinking test even through their sophomore years. The study is being contested by many.