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News roundup: Economic ups and downs continue

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Good morning. It's Friday. MILWAUKEE

The ups and downs of the economy are reflected on the front pages of this morning's papers, with most reserving some room for the news that 10 of the nation's 19 largest banks need almost $75 billion to stay afloat. Papers also published localized stories about how the economy continued to challenge their readers. The Los Angeles Times reports that the chief budget analyst of California's legislature warns the state could run out of cash by July. In Wisconsin, Gov. Jim Doyle warns the budget deficit has climbed to $6.5 million and that layoffs and furloughs are needed, according to The Journal Sentinel. But papers are reflecting financial bright spots across the country too. In San Diego, The Union-Tribune reports that the recession has helped ease the nursing shortage. The News Journal of Wilmington, Del., has published a story detailing how many laid-off workers are finding second careers as substitute teachers. The publisher of The Boston Globe, which recently finished tense negotiations with labor unions to save the paper, says rocky times will likely continue at the storied institution but, for now, no layoffs are planned. In other news, papers reflected the emotion readers have tied to the news that Major League Baseball has suspended Los Angeles Dodgers left fielder Manny Ramirez for 50 games after testing positive for a banned substance. The Press-Enterprise of Riverside, Calif., has published stories about the "Dodger blues," while the The Sun of San Bernardino, Calif., shares advice from psychologists on how to break the Ramirez news to children. But, as it is with the economy, all isn't quite so grim in the world of sports. The Washington Post reports that Olympic medalist Michael Phelps, banned from competition for three months after the publication of photos of him smoking marijuana, has returned to the swimming pool.

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