Everyone leads (and the Wall Street Journal tops its world wide newsbox) with the U.S. Supreme Court's 5-4 ruling that the Environmental Protection Agency may regulate automobile emissions contributing to global warming. The ruling does not force the agency to regulate, but it leaves the agency open to further legal action under the Clean Air Act if it fails to do so.
The Washington Post calls the decision a "rebuke" of the Bush administration's stance on global warming. The decision saw moderate conservative Justice Anthony M. Kennedy side with the more liberal wing of court. The New York Times delves into the issue of "standing" in the case. The dissenting opinion focused not on the facts of the case, but that the defendants should never have been able to bring the matter before the court at all. The majority opinion ruled that one of the defendants, the state of Massachusetts, met all the tests for standing, which were soften out of deference for its statehood. That extra consideration for states was key to getting Anthony's vote for the opinion, the paper reports. USA Today notes that the decision is a blow to the Alliance of Automobile Manufacturers, who will now likely turn to Congress for new laws to avoid having to build lower emissions vehicles. The Los Angeles Timesis the least ebullient, citing several hurdles California will have to clear to enforce its own tougher emissions limits. The WSJ looks at the economic impact of the decision.
The WP off-leads, the NYT fronts and the other papers tease analysis of Republican presidential candidates preliminary fundraising disclosures. Former Mass. Gov. Mitt Romney brought in $21 million, $6.5 million of which reportedly was brought in by a single day's fundraising. In the same breath, the papers all mention Sen. John McCain's disappointing $12.5 million third-place showing. The NYT focuses on Romney's support from Wall Street and from fellow Mormons. The WP chalks McCain's performance up to sluggish organization and lingering damage from the 2000 race. All the papers are careful, to varying degrees, to insist that money really isn't everything in politics.
The LAT off-leads with a scoop from Iraq, reporting that militants formerly loyal to cleric Muqtada Sadr are being siphoned off by other militant groups, some of which may have Iranian backing. Sadr is losing support because he urged his followers to freeze their activities at U.S. behest. Officials worry that if Sadr loses control of his people, it will be much harder to influence Shiite militants.
In absence of any sort of hard data from the Obama campaign, the NYT off-leads with a soft feature on how the Obama raises money, drawing examples primarily from his 2004 Senate race. Readers looking for insight into Obama's current operation can likely skip it.
The WP fronts the subprime mortgage lender industry's collapse claiming its largest victim, New Century Financial, which issued $51.6 billion in subprime loans last year.
The LAT fronts word that Sam Zell, a Chicago real estate mogul, bought Tribune Co., publishers of the LAT, the Chicago Tribune and the Baltimore Sun, among other paper, along with several TV stations and the Chicago Cubs. Zell will take the company private, buying out stockholders at $34 a share. The paper estimates that Zell stands to make a lot of money on the deal. But before you accuse the LAT of bias, consider: the NYT points out under the fold that Zell bought an $8.2 billion company for just $315 million of his own money. The NYT also says that music executive David Geffen remains interested in the LAT, though Zell has said he does not want to break up the company, apart from selling off the Cubs at the end of the season.
Pharmaceutical giant Pfizer stands to loose billions because of health plans pushing the generic version of Pfizer's blockbuster anti-cholesterol drug Lipitor. Now Pfizer is trying to convince doctors to help justify the more expensive drug to insurers, reportsUSAT.
The WP traces the origin of the document the Bush administration used in pre-war claims that Iraq was trying to buy Uranium from Nigeria.