A.M. Splash: SF Set to Lose $8 Million in Federal AIDS Funding; Facebook IPO; Delta Restoration Plan; Tour of California
- AIDS funding cuts could impact care, prevention (SF Chronicle)
…The city is set to lose almost $8 million in federal AIDS funding in the new fiscal year that starts July 1 – the biggest one-time cut ever – and $10 million the following year. The deep cuts would not shutter any programs, but would jeopardize care for people living in San Francisco with AIDS and HIV, city officials and care providers say.
- Facebook Will Raise Stock Price, Could Be First U.S. Company Worth $100 Billion at IPO (SJ Mercury News)
Facebook will raise the price of shares for its initial public offering, possibly vaulting the world’s most popular social network to the first $100 billion valuation of a U.S. company at the time of its public debut. Facebook updated its filing with the Securities and Exchange Commission on Tuesday morning, raising the maximum price of its IPO shares to $38, confirming a move the Mercury News reported Monday evening. At that price, Facebook would be valued at more than $104 billion and bring in $12.8 billion. The largest U.S. IPO valuation on record is shipping company UPS at $60 billion, according to Dealogic records.
- Oikos’ nursing program put on state probation (SF Chronicle)
A small vocational nursing program in Oakland that lost six students in a campus massacre last month is now facing a separate challenge, with state officials placing the program on a form of probation.
- Delta restoration plan released for review (Sacramento Bee)
The final draft of a plan to restore the Sacramento-San Joaquin Delta was released for public review Monday. The so-called Delta Plan was prepared by the Delta Stewardship Council. The council was created by a 2009 state law to resolve conflicts between water demand and ecosystem decline in the estuary, the largest on the West Coast of the Americas.
- Bump California death penalty measure from November ballot, group says (SJ Mercury News)
A law-and-order group on Monday asked a state appeals court to bump a measure off the November ballot that would repeal California’s death penalty, arguing that it violates a state rule against proposing multiple reforms. The ballot language is “deceptive” and conflicts with the state’s limit of voter initiatives to a single subject, the Criminal Justice Legal Foundation argues in a petition filed with the Sacramento-based 3rd District Court of Appeal.
- PG&E execs would be subject to fines under bill (SF Chronicle)
Legislation introduced Monday in Sacramento would hold executives at PG&E Corp. and California’s other big utility companies personally responsible for corporate wrongdoing that happens during their tenure, revoking their bonuses and subjecting them to million-dollar fines.
- Anticipation builds for Tour of California’s Stage 3 (SJ Mercury News)
Ben Jacques-Maynes has something special in mind Tuesday when the Amgen Tour of California comes rolling through the outskirts of San Jose on its way to an anticipated sprint finish in downtown Livermore. As some of the world’s cycling stars test the East Bay’s backcountry roads in Stage 3 of weeklong bikeapalooza, Jacques-Maynes will try to duplicate his superb start to the 733-mile event.