The Rich And Powerful: Rich Women and Powerful Men
Learn About The Lifestyles of the Rich and Famous

In the market for a skull lamp, hand-made prison shiv, or perhaps a large column of whale vertebrae? Look no further than this legendary L.A. design emporium.

The Wall Street Journal's world-wide newsbox leads with word that the White House will announce today that it has carried out "the largest overhaul of intelligence powers in a generation." President Bush signed an executive order updating spy powers yesterday that boosts the power of the director of national intelligence. The Los Angeles Times leads a look at how John McCain's campaign is focusing its energies on trying to shape how the public views Barack Obama. Funnily enough, that's exactly what Obama's campaign is trying to do as well. While McCain has turned increasingly negative–"even derisive," says the LAT–in trying to portray Obama as inexperienced and out of touch, the presumptive Democratic nominee is attempting to convince voters that he can be trusted as commander in chief.

[more ...]n

That's the surprising conclusion of a CNNMoney story: while some 7600 jobs have been slashed on the Street in the past year, there is active recruitment going on, especially "at buy-side institutions like hedge funds looking to pick up talent on the cheap," notes writer David Ellis. The Financial Times concurs; it reports that Morgan Stanley chief John Mack is telling associates that the financial sector's recent tumult "is a historic opportunity to recruit bankers, traders and risk managers."

[more ...]n

Exxon Mobil broke its own record for “the highest-ever profit by a U.S. company,” as second-quarter profits rose 14 percent. “Net income in the quarter rose to $11.68 billion, or $2.22 a share, from $10.26 billion, or $1.83 a share, last year.”

n

Citing reductions in violence in Iraq, President Bush said this morning that “combat tour lengths for U.S. troops will be reduced to 12 months from 15 months.” While 147,000 U.S. troops remain in Iraq, Bush said troop reductions might be possible because the “terrorists are ‘are on the run.’”

n

Senate conservatives debated yesterday whether to threaten a government shutdown as a way to force a vote on offshore drilling. Congress would have to pass a continuing resolution in September to keep the government functioning, and conservatives are mulling a filibuster.

n

The Department of Health and Human Services is “reviewing a draft regulation that would deny federal funding to any hospital, clinic, health plan or other entity” that does not allow employees to deny providing birth-control pills, IUDs, and the Plan B contraceptive. The draft considers certain contraceptives as destroying “the life of a human being.”

n

On the trail this day: Sen. Barack Obama (D-IL) will be in Cedar Rapids, IA visiting with flood victims, and then will host a town hall meeting on the economy. Sen. John McCain (R-AZ) will host a town hall meeting this day in Racine, WI. (more…)