U.S. Markets open in 8 hrs 2 mins

Legislators meets to debate Iowa education plan

Catherine Lucey, Associated Press

DES MOINES, Iowa (AP) -- Members of a joint House-Senate committee trying to reach a compromise plan on new education spending agreed Tuesday that they shared some common ground, though how long it will take to make a deal is unclear.

Lawmakers from both parties expressed optimism they could work out their differences on Republican Gov. Terry Branstad's proposal to improve education in Iowa

"My objective is to try and get the agreement between the Senate plan and the House plan sooner than later," said Rep. Ron Jorgensen, a Republican from Sioux City who chairs the House education committee. "I'm prepared to meet morning noon and night, whatever it takes."

The Senate and the House have developed different versions of Branstad's $187 million plan to improve Iowa schools. Branstad proposes boosting minimum teacher salaries from $28,000 to $35,000 and providing incentive pay to teachers who take on extra responsibilities.

The House watered down the plan in February, approving a version that would lower the salary minimums to $32,000 and allow districts to opt out of the salary hikes and leadership pay. But the Senate later approved a plan that would put the salary minimums back at $35,000 and require districts to choose from several options for a leadership incentive pay program.

The Senate plan also would provide more basic funding to schools. Their bill would offer a 4 percent general funding increase to school districts for the 2013-2014 school year, and another 4 percent in the 2014-2015 school year. That's more than the 2 percent increases approved by the House. Branstad did not include any general funding increases in his budget, saying he wanted to first act on his education plan.

During Tuesday's meeting, Jorgensen discussed the House version of the bill and Sen. Herman Quirmbach, a Democrat from Ames who chairs the Senate education committee, explained the Senate version. Both agreed there was overlap, though leadership pay and general school funding could be sticking points.

Quirmbach declined to say how long the process could take.

"I think school districts want us to do good policy rather than quick policy," Quirmbach said. "We want to give them something they can implement and use to improve their systems for the long haul. I think we have a fair number of elements where we have either a common view or a view that is reasonably compatible."

Branstad said Monday that he'd like to see a deal struck on education as soon as possible.

"I believe it can be worked out," Branstad said. "This is the year we need to pass major education reform. It can all happen quickly."

While legislative negotiations continue on education, school administrators say they are left without information about general school funding as a deadline looms for district budget plans. Districts are required to certify budgets by April 15, though they can make some changes after that deadline.

Des Moines Public Schools Superintendent Thomas Ahart said the district was planning to certify a budget Tuesday night, without all the necessary funding information from the state. Ahart said the lack of resolution in the Capitol is a challenge.

"It's hugely problematic. We do a tremendous amount of work in the spring and summer for the following year," said Ahart. "A lot of the work needs to be put on hold, because we don't know."

  • Warren Buffett explains how you could've turned $114 into $400,000 with a simple long-term investment
    News
    Yahoo Finance

    Warren Buffett explains how you could've turned $114 into $400,000 with a simple long-term investment

    Many of us know the magic of investing money in the stock market—just letting it sit and watching it grow—but few of us really grasp just how powerfully enriching this can be. Not surprisingly, Warren Buffett, the world’s greatest investor, has a vivid example of this which he shared with me during a visit earlier this year at Berkshire Hathaway headquarters in Omaha. First, take yourself back, way back to America’s entry into World War II. Franklin Roosevelt was president and Buffett was a young boy.

  • Lawmakers: EPA security chief improperly runs outside firm
    News
    Associated Press

    Lawmakers: EPA security chief improperly runs outside firm

    The security chief for the head of the Environmental Protection Agency has been operating an outside consulting firm without proper approval from ethics officials, Democratic lawmakers said Tuesday. EPA Administrator Scott Pruitt last year tapped EPA special agent Pasquale "Nino" Perrotta to be his security chief and lead his 20-member personal protective detail.

  • The bizarre holes NASA found in the Arctic sea ice are actually a sign of a more worrying trend
    Science
    Quartz

    The bizarre holes NASA found in the Arctic sea ice are actually a sign of a more worrying trend

    On April 14, a group of NASA scientists were flying over the Beaufort Sea, north of Alaska and the Canadian border, when they saw something puzzling: Three holes in the sea ice with what look like rings around them and some wavy ice to their left. “I don’t recall seeing this sort of thing elsewhere,” John Sonntag, a meteorologist with NASA who took the above photo, said in a statement. “My first guess is that these are seal breathing holes,” says Walt Meier, an atmospheric scientist at the National Snow and Ice Data Center who focuses on sea ice.

  • Facebook releases long-secret rules on how it polices the service
    Finance
    Reuters

    Facebook releases long-secret rules on how it polices the service

    Facebook Inc on Tuesday released a rule book for the types of posts it allows on its social network, giving far more detail than ever before on what is permitted on subjects ranging from drug use and sex work to bullying, hate speech and inciting violence. Facebook for years has had "community standards" for what people can post. Now, the company is providing the longer document on its website to clear up confusion and be more open about its operations, said Monika Bickert, Facebook's vice president of product policy and counter-terrorism.

  • A Woman Says Smallville Actress Allison Mack Tried to Recruit Her Into an Alleged Sex Cult
    News
    Time

    A Woman Says Smallville Actress Allison Mack Tried to Recruit Her Into an Alleged Sex Cult

    Jennifer Pastiloff had no idea who Allison Mack was when the Smallville actress followed her on Twitter back in 2014. Soon after, when Mack started emailing her, Pastiloff says Mack made a good impression. Pastiloff says that at that point, she became wary.

  • 2020 Democratic presidential candidate calls for universal basic income
    U.S.
    Fox Business Videos

    2020 Democratic presidential candidate calls for universal basic income

    2020 Democratic presidential candidate Andrew Yang on his plan to offer universal basic income to all Americans between the ages of 18 to 64.

  • The Trump administration again signals it will scrap work permits for H-1B spouses
    Finance
    Quartz

    The Trump administration again signals it will scrap work permits for H-1B spouses

    The Donald Trump administration just won’t go easy on H-4 visa-holders. The United States Citizenship and Immigration Services (USCIS) has reiterated that it plans to scrap the provision allowing H-4 visa-holders to work in the country. “…our plans include proposing regulatory changes to remove H-4 dependent spouses from the class of aliens eligible for employment authorisation, thereby reversing the 2015 final rule that granted such eligibility,” Lee Francis Cissna, director of the USCIS, wrote in an April 04 letter to Charles E Grassley, chairman of the judiciary committee of the 115th Congress.

  • Prince William Might Have Just Hinted at the New Royal Baby's Name
    News
    Time

    Prince William Might Have Just Hinted at the New Royal Baby's Name

    Speculation about the name of the new royal baby has run rampant — and it’s possible that Arthur might be the winning guess. According to some Twitter accounts, the Duke of Cambridge said, “There’s Arthur, there he is,” while pointing to a photographer who works for The Sun, a popular British tabloid. The photographer in question, Arthur Edwards, is referred to as a “veteran” in his field, so would be known by sight to the royals.

  • Apple loses $64 billion in stock value as Wall Street is in 'full panic mode' on iPhone demand
    Business
    CNBC.com

    Apple loses $64 billion in stock value as Wall Street is in 'full panic mode' on iPhone demand

    Disappointing guidance from key iPhone suppliers is raising worries about Apple shares and could signal the death of the technology-driven stock rally. Apple's stock is cumulatively down 7.1 percent in the three trading sessions through Monday, wiping out $63.9 billion of shareholder value. The decline was sparked by Taiwan Semiconductor Manufacturing's weaker-than-expected guidance Thursday morning. The world's largest semiconductor foundry and key Apple chip partner said its revenue forecast range for the second quarter is $7.8 billion to $7.9 billion versus the Wall Street estimate of $8.8 billion. The company blamed "weak demand" in the mobile sector for its forecast. "Heading into Apple's

  • 1 in 3 workers can’t answer this question about their retirement savings
    News
    CNBC.com

    1 in 3 workers can’t answer this question about their retirement savings

    Here's a question: You've built up a massive nest egg at your job, and you're about to retire. What are your plans for your hard-earned savings? For nearly a third of workers, the answer is "I don't know." Those were the findings from a recent survey by the Employee Benefit Research Institute, a research group that focuses on health, savings and retirement. EBRI conducted an online poll of 2,042 adults in January. "In most cases, you would expect people to do a couple of things: You wouldn't use all of it to buy lifetime income and you'd want to keep some of it for emergencies," said Craig Copeland, a senior research associated at EBRI. "It's troubling that they can't recognize what they think

  • Finance
    InvestorPlace

    Buy Freeport-McMoRan Inc on the Post-Earnings Dip

    From a logic-driven perspective, miner Freeport-McMoRan Inc (NYSE:FCX) should have done quite well last quarter. For the quarter ending in March, metal mining outfit Freeport-McMoRan turned $4.87 billion worth of revenue into earnings of 46 cents per share. The figures fell short of the 56 cents per share of FCX stock analysts were collectively expecting, and the top line of $4.93 billion they’d modeled.

  • China fails to get Indian support for Belt and Road ahead of summit
    World
    Reuters

    China fails to get Indian support for Belt and Road ahead of summit

    China failed to get India's support for its ambitious Belt and Road infrastructure project at the end of a foreign ministers' meeting of a major security bloc on Tuesday, ahead of an ice-breaking trip to China this week by India's prime minister. The Belt and Road is Chinese President Xi Jinping's landmark scheme to build infrastructure to connect China to the rest of Asia and beyond, a giant reworking of its old Silk Road.

  • How the Trumps' First State Dinner Will Break With Tradition
    Finance
    Fortune

    How the Trumps' First State Dinner Will Break With Tradition

    President Trump will be giving his first state dinner as president Tuesday night, hosting French President Emmanuel Macron and his wife Brigitte as part of their three-day state visit to the American capital. Not only is she responsible for the key decisions surrounding the dinner, but also the stakes are higher, as the Trumps have waited 15 months to host their first state dinner. At least a few things will be different from state dinners past.

  • Melania Trump's Massive White Hat Has Caused Quite the Stir
    Politics
    Time

    Melania Trump's Massive White Hat Has Caused Quite the Stir

    French President Emmanuel Macron and First Lady Brigitte Macron may be the ones visiting the White House, but at the traditional state arrival ceremony, it was Melania Trump’s hat that stole the spotlight. As Melania officially welcomed the Macrons

  • Kroger Just Gave Its Shareholders a $1.2 Billion Surprise
    Business
    Motley Fool

    Kroger Just Gave Its Shareholders a $1.2 Billion Surprise

    Earlier this year, shares of Kroger (NYSE: KR) irrationally sold off after it released its fourth-quarter earnings report. After the company met or beat quarterly expectations, shares dropped 12% due to investor aversion to Kroger's plans to distribute the benefits of the recently enacted corporate tax cut between employees, capital investments, and shareholders to create what it refers to as a "more-sustainable business model." Later the company announced an aggressive hiring spree of up to 11,000 new employees to improve the consumer experience and roll out online ordering. Although shareholders weren't initially enthused with Kroger's plans, it appears the store has not forgotten about them, and a recent announcement shows the company is putting its money where its mouth is with a new share buyback authorization -- $1.2 billion of its money, to be exact.

  • Reddit co-founder: My wife Serena Williams and I want our...
    News
    CNBC Videos

    Reddit co-founder: My wife Serena Williams and I want our...

    Reddit co-founder Alexis Ohanian joins a growing list of tech luminaries who believe that limiting screen time fosters better psychological and social development.

  • Jim Cramer has done a complete 180 on Snap (SNAP)
    Business
    Business Insider

    Jim Cramer has done a complete 180 on Snap (SNAP)

    "Mad Money" host Jim Cramer has changed his tune on Snap almost 2 months after comparing the company to the early days of Facebook. Jim Cramer is turning his back on Snap. "Sure, I was a skeptic, but after this quarter, I'm now a believer," Cramer said on "Mad Money" following the report.

  • How Nick Saban Keeps Alabama Football Rolling
    News
    Fortune

    How Nick Saban Keeps Alabama Football Rolling

    Nick Saban knows what he’s doing isn’t normal. The University of Alabama football coach is well aware that it’s anything but typical for one school to thoroughly dominate a major sport the way his Crimson Tide has ruled college football over the past decade. “To me it takes a completely different mindset to stay successful as opposed to what you have to do to build something to be successful,” says Saban.

  • Under Armour Inc Earnings Could Be a Bullish Game Changer
    Finance
    InvestorPlace

    Under Armour Inc Earnings Could Be a Bullish Game Changer

    Can Under Armour (mostly) deliver again off the field of play — and convincingly so, on the playing pitch of the UAA stock chart for a second time in a row? With the expectations bar set reasonably low and the Street forecasting a loss of 4 cents and sales of $1.1 billion, I personally like the long game in UAA stock. It has been nearly three weeks since last penning a bullish article on UAA stock at InvestorPlace.

  • Ford Stock Is Too Cheap to Ignore: Here's Why
    Business
    Investopedia

    Ford Stock Is Too Cheap to Ignore: Here's Why

    Iconic automaker Ford Motor Company (F) began 2018 with an earnings warning on Jan. 16. This warning was confirmed by a negative reaction to fourth quarter results released on Jan. 24. The company is set to report first quarter earnings after the close on April 25. Shares of Ford traded as high as $13.29 on Jan. 16 and declined 24% to the 2018 low of $10.14 on March 2. Ford closed Monday, April 23, at $11.04, down 10.6% year to date and deep in correction territory at 16.9% below the January high. Since the March low, the stock is up 8.9%. Analysts expect Ford to post earnings per share of 41 cents when the company reports first quarter earnings on Wednesday. Analysts expect year-over-year gains

  • Stocks are getting smoked, and companies can't step in to stop it
    Business
    Yahoo Finance

    Stocks are getting smoked, and companies can't step in to stop it

    Stocks are getting smoked on Tuesday. Each of the major U.S. indexes was in the red, with the Dow seeing the biggest losses, falling 2.2%, or 550 points, while the S&P 500 was also down 1.7% and the Nasdaq was down 1.9%. The Dow was being dragged lower by shares of Caterpillar (CAT), down over 6% after having rallied earlier in the session following an earnings beat.

  • US brands suffer collateral damage in Chinese corporate war
    Business
    Associated Press

    US brands suffer collateral damage in Chinese corporate war

    It was looking like a banner year for business in China. The U.S. clothing company was expecting a 20 percent jump in online sales on Alibaba's Tmall, thanks to the e-commerce giant's massive reach. The company refused to sign an exclusive contract with Alibaba, and instead participated in a big sale promotion with its archrival, JD.com Inc. Tmall punished them by taking steps to cut traffic to their storefront, two executives told The Associated Press.

  • 3 Bargain Stocks You Can Buy Right Now
    Business
    Motley Fool

    3 Bargain Stocks You Can Buy Right Now

    Gilead Sciences (NASDAQ: GILD), Micron Technology (NASDAQ: MU), and Walker & Dunlop (NYSE: WD) actually have relatively low valuations. Gilead's revenue and earnings have declined over the last couple of years on sinking sales of its hepatitis C virus (HCV) franchise. Stabilization in the HCV market should set Gilead up for a return to growth.

  • General Electric's Earnings Beat Estimates, but Here's What You Really Need to Know
    Business
    Motley Fool

    General Electric's Earnings Beat Estimates, but Here's What You Really Need to Know

    By now, most investors in General Electric Company (NYSE: GE) know that the company's first-quarter earnings came in ahead of expectations, and management maintained guidance for the full year. Investors should look to the long term with General Electric stock.

  • 3 big changes coming from the Trump tax cuts
    Business
    Yahoo Finance

    3 big changes coming from the Trump tax cuts

    It will take months or years to tell if the tax cuts President Trump signed at the end of 2017 will boost economic growth or help create jobs, as intended. Congress’s Joint Committee on Taxation has published new estimates of the ways people will file their taxes for 2018, the first year most of the new tax provisions will be in effect. One of the most disruptive changes to the tax code is a new limit of $10,000 on the deductibility of state and local taxes, which used to be subject to no limit.