Page 2 — THE CONWAY DAILY SUN, Friday, September 30, 2011
‘Bottoms up’ to help the bottom line ATLANTA (NY Times) — Drink up, America. The government needs the money. With cities across the country facing their fifth straight year of declining revenues and states cutting services and laying off workers, raising money from people who enjoy a cocktail is becoming an increasingly attractive option. Since the recession started in earnest in 2008, dozens of states and cities have tinkered with laws that regulate alcohol sales as a way to build up their budgets. Twelve states have raised taxes on alcohol or changed alcohol laws to increase revenue, including Maryland, which in July pushed the sales tax on alcohol to 9 percent, from 6 percent — the first such increase in 38 years and one that is expected to bring in $85 million a year. In November, voters in Atlanta and elsewhere in Georgia will decide whether to repeal colonial-era laws that ban alcohol sales on Sunday. People touring the Jack Daniel’s distillery in Lynchburg, Tenn., may finally be able to have a sip now that the state has loosened laws to allow tastings as part of a package of changes intended to attract more alcohol-related business to the state.
SAYWHAT...
“
Candy is dandy but liquor is quicker.” —Ogden Nash
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THEMARKET
3DAYFORECAST
Tomorrow High: 64 Low: 47 Sunrise: 6:42 a.m. Sunset: 6:26 p.m. Sunday High: 60 Low: 43
Today High: 69 Record: 82 (1987) Sunrise: 6:40 a.m. Tonight Low: 52 Record: 25 (2000) Sunset: 6:27 p.m.
DOW JONES 143.08 to 11,153.98 NASDAQ 10.82 to 2,480.76 S&P 9.34 to 1,160.40
records are from 3/1/74 to present
Even if Europe averts crisis, growth may lag for years (NY Times) — It has happened time and again in recent months as Europe’s debt crisis has played out. Stocks stage a remarkably strong comeback on expectations that a solution has been found. Then they quickly resume their decline as hopes dissipate, leaving investors puzzled and frazzled. The problem, say close watchers of both the subprime financial crisis in 2008 and the European government debt crisis today, is that many investors think there
is a quick and easy fix, if only government officials can come to an agreement and act decisively. In reality, one might not exist. A best case in Europe is a bailout of troubled governments and their banks that keeps the financial system from experiencing a major shock and sending economies worldwide into recession. But a bailout doesn’t mean wiping out the huge debts that have taken years to accumulate — just as bailing out Ameri-
can banks in 2008 didn’t mean wiping out the huge amount of subprime debt that homeowners had borrowed but couldn’t repay. The problem — too much debt — could take many years to ease. ”Everybody has been living beyond their means for nearly the last decade, so it is an adjustment that will be painful and long, and it will test the resilience of societies socially and politically,” said Nicolas Véron, a senior fellow at Bruegel, a research organization in Brussels.
House approves stopgap spending bill
WASHINGTON (NY Times) — The House on Thursday gave quick approval to a stopgap spending bill that will finance the government for the first four days of October, until lawmakers can return and vote on a more ambitious seven-week spending bill. The stopgap bill, passed Monday by the Senate, goes now to President Obama, who is expected to sign it. The House action came in a brief session attended by just a few lawmakers. Both houses
of Congress are in recess, holding only pro forma sessions like the one on Thursday. A partisan fight over the stopgap spending bill had raised the possibility that the government might have to shut down many of its operations starting on Saturday, the first day of the new fiscal year. The fight, like so many on Capitol Hill this year, involved a dispute over money, as Republicans and Democrats disagreed over how to pay for assistance to victims of natural disasters like hurricanes, floods, tornadoes and wildfires.
In modern-day Paris, a journalist (Kristen Scott Thomas) finds her life becoming entwined with a young girl whose family was torn apart during the notorious Vel’ d’Hiv Roundup in 1942.
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TODAY’SWORD
woolgathering
adjective; Indulgence in idle daydreaming.
— courtesy dictionary.com
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SARAH’S KEY
The Smurfs
TODAY’STRIVIA
John Froio was the closest in Thursday’s Daily Sun trivia question, which asked fans of the Sun’s Facebook page how many people are employed by the Fryeburg Fair during fair week. Froio said 621. Fair secretary June Hammond says the fair has about 650 employees.
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Pro-Assad protest temporarily traps U.S. diplomat
BEIRUT, Lebanon (NY Times) — Dozens of pro-government Syrians attempted to assault an American diplomatic delegation that included the ambassador on Thursday, striking their motorcade as they traveled to a meeting with an opposition figure in Damascus and then trying to break into an office where the meeting was held, essentially trapping the participants inside for 90 minutes. The United States protested the episode and suggested that the attackers had been deliberately allowed to harass the diplomatic delegation by Syrian security forces, who arrived belatedly to provide safe passage for the Americans to leave. The ambassador, Robert S. Ford, an outspoken critic of Syria’s President, Bashar al-Assad, was reported safe but some vehicles in his motorcade were damaged. “We condemn this unwarranted attack in the strongest possible terms,” Secretary of State Hillary Rodham Clinton said in a statement. “Ambassador Ford and his aides were conducting normal embassy business and this attempt to intimidate our diplomats through violence is wholly unjustified.”
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