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Fireworks to light up night skies across area

Sunny

Low: 54

High: 80

Today’s forecast, page 10A

INSIDE

LJWorld.com

Pharmacy School lands healthy dose of research funding ————

KU ranked No. 2 nationally

Books are summer playground for mind Fun and books come together during the Lawrence Public Library’s summer reading program, Summer in the City. And for many Lawrence parents, it’s a lifesaver of a combination for getting kids out of the house and putting their brains to work while they’re out of school. BUSINESS

Entrepreneur wears talent on his sleeve What started as a vintage T-shirt obsession grew into a business when Chase McAnulty went to college. His retro T-shirts can now be found in several area stores, including Hobbs in downtown Lawrence. Page 5A NATION

19 firefighters killed in wildfire A fast-moving wildfire killed 19 firefighters after the blaze raced through the central Arizona town of Yarnell, about 85 miles northwest of Phoenix, officials said late Sunday night. Page 6A

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INDEX Business 5A Classified 6B-10B Comics 9A Deaths 2A Events listings 10A, 2B Horoscope 9B How to Help 2A Movies 4A Opinion 8A Puzzles 9B Sports 1B-5B, 10B Television 10A, 2B, 9B Vol.155/No.182 32 pages

Richard Gwin/Journal-World Photo

THURSDAY WAS THE FIRST DAY THAT FIREWORKS could be sold in Perry, and the Hamm family checked out the selection at Big Bangs Fireworks on U.S. Highway 24. From left are Kayla, 9, Emily, 11, Jessica, 8, mom Heather holding Austin, 3, and dad Rick Hamm. In Jefferson and Franklin counties, the use of fireworks is permitted in unincorporated areas. In Douglas County, fireworks may be used on private property in unincorporated areas from 7 a.m. to 10 p.m. Tuesday and Wednesday and from 7 a.m. to midnight on July 4. The city of Lawrence bans the use and sale of fireworks in the city limits with the exception of several novelty items: party poppers, snappers, snakes and glow worms, sparklers, toy caps and toy smoke devices.

July 4 bursting with opportunities for viewing pyrotechnic displays By Nikki Wentling nwentling@ljworld.com

If your Fourth of July plans aren’t set, there’s still time to find a place for a cold beverage, the boom, sizzle and pop of fireworks and some good, old-fashioned American fun. Communities from Lawrence to Perry to Ottawa are holding celebrations, and you’re invited. Unless otherwise noted, the events are Thursday.

Lawrence The Party in the Park will lead up to a fireworks display sponsored by the Lawrence Jaycees. The Lawrence Originals, a group of local, independent restaurateurs, plays host for the celebration, which starts at 4 p.m. Thursday at Watson Park, near Seventh and Tennessee streets. There will be food from Lawrence Originals restaurants, beer, live music and children’s activities.

By Peter Hancock phancock@ljworld.com

People who pay taxes to Douglas County and the Lawrence school district had a lot riding on events that happened on Wall Street over the last couple of weeks. But unless they paid extremely close attention to daily changes in the value of their IRA and 401(k) accounts, they probably weren’t even aware of what was happening. What almost happened was a sudden — and some say uncalled for — spike

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Perry Lake Fireworks are back at Perry Lake, and the show is Saturday night. An Independence Day celebration had been routine at Perry Lake since the mid1990s until it fizzled out in 2009. Representatives from communities throughout Jefferson County began working in January to bring it back.

The comeback event, dubbed Jeff Fest, begins at 9 a.m. Saturday. Musical acts Lost & Found, Travis Martin and the KC All Stars will perform in succession from 2 p.m. to 9:30 p.m. at the east end of the dam. Face painting, a car show, karaoke, and more than 40 vendors and food stands will be located in the same area. The main event, a fireworks display choreographed to music, starts at 10 p.m. The fireworks will be shot from the top of the dam. “That’s the unique part,� said Lonnie Morris, president of the board that reorganized the celebration. “That is what makes this the most special event in Kansas.� There is no entry fee for Jeff Fest, but the board is asking for donations for parking, which will be on the south side of the lake off of Dam Road.

merickson@ljworld.com

Kansas University’s School of Pharmacy remained a national research power last year, ranking No. 2 in the country among pharmacy schools in National Institutes of Health research funding. The school ranked No. 2 for the third time in four years, the school announced Tuesday, in the most recent rankings compiled by the American Association The top U.S. pharmacy of Colleges schools in National Instiof Pharmacy. tutes of Health research The list is funding for the 2012 for the fedfederal fiscal year, aceral 2012 fiscal cording to the American year, which Association of Colleges of ended Sept. Pharmacy: 30, 2012. 1. University of CaliforD u r i n g nia, San Francisco: $37.2 that year, the million in grants school earned 2. Kansas University: about $25 mil$25 million lion in NIH 3. University of North funding, up $3 Carolina at Chapel Hill: million from $23.5 million the year be4. University of Utah: fore. Those $17.5 million funds were 5. University of Washearned by 24 ington: $11.8 million different faculty members, making for an average of more than $1 million per funded researcher, the highest in the country. “We’ve got a lot of motivated faculty who are very good in their fields,� said Ken Audus, the dean of KU’s pharmacy school. “And they’re certainly persistent because funding rates at NIH are pretty low these days.� The school’s NIH-funded researchers are working to develop treatments for cancer, Alzheimer’s disease, diabetes,

Please see FIREWORKS, page 2A

THE TOP 5

Please see PHARMACY, page 2A

Bond issuers breathe sigh of relief as market stabilizes

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The fireworks will start about 9:45 p.m. Watson Park and Burcham Park, 200 Indiana St., are among the places to watch the show. Abe & Jake’s Landing, at the corner of Sixth and New Hampshire streets, will hold a fireworks viewing party beginning at 5:30 p.m. There will be food, a bounce house and kids’ games. The entry fee is $5, and proceeds from the event will benefit Ballard Community Services, a local nonprofit that provides early education programs and assistance for needy families.

By Matt Erickson

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in interest rates just as the county and school district were about to issue bonds to pay for school building repairs, new emergency radio equipment and a new building for the county’s Public Works Department. Greg Vahrenberg of the firm Piper Jaffray, Douglas County’s bond advisor, said the volatility began June 19 when Federal Reserve Chairman Ben Bernanke gave a speech indicating that sometime next year, the central bank might begin scaling back some of its policies

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that have kept interest rates at historic lows for the last two years. “While that news was not necessarily surprising, the reaction by investors was surprising, at least from my perspective,� Vahrenberg told Douglas County commissioners Wednesday. What happened as a result, he said, was a selffulfilling prophecy. Investors anticipating that rates would soon go up began selling off shares in mutual funds that were invested in older, lowyield bonds. Mutual fund

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managers then had to sell off the actual bonds themselves to pay off their customers who were liquidating, driving prices for those bonds down even further. That meant any school district, city, county or local government trying to sell new bonds at the time had to pay higher interest rates to attract buyers. By Tuesday of last week, the average rate on a 20-year bond had spiked to more than 4.5 percent, compared with just 3 percent only a few months ago.

The spike was serious enough that the Douglas County Commission on Wednesday decided to hold off trying to sell $15.2 million in 20-year bonds that it needs to fund its radio project and new public works facility. Experts say that for every $1 million in debt, a 1 percent increase in the interest rate costs about $6,400 a year, or $128,000 over the life of a 20-year note. That means for Douglas County, the difference between 3 percent interPlease see BONDS, page 2A

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