NPR's business news starts with a boost from Caterpillar.
(SOUNDBITE OF MUSIC)
MONTAGNE: Caterpillar is reporting a big increase in its profits - up 67 percent for the second quarter. The world's largest manufacturer of heavy construction and mining equipment is on pace to rake in record profits this year. But that hasn't motivated Caterpillar to sweeten its offer to union workers who are on strike at a plant outside of Chicago.
In China, authorities are still counting the cost of heavy weekend flooding in Beijing. Officials now say 37 people died and more than 60,000 homes were damaged. Loses are estimated at nearly two billion dollars, but as NPR's Louisa Lim reports from Beijing, some of the damage is to the government's credibility.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
LINDA WERTHEIMER, HOST:
And I'm Linda Wertheimer.
In the Midwest, the drought is doing a number on the nation's biggest agricultural crop, corn. The USDA says half of the country's cornfields are in poor or very poor condition, and the short supply is driving up the price. Now, a fight between livestock farmers and ethanol producers over the high priced corn crop. Farmers say ethanol factories have an unfair advantage.
It's the start of state fair season, which means lots of weird and fried food. The Indiana State Fair decided on spaghetti and meatballs ice cream as the fair's official food. The noodles are made of gelato, the sauce is strawberry tomato, and the meatballs are chocolate. It's topped with shredded white chocolate cheese. Yummy. At the Iowa State Fair you can try a double bacon corndog. Last year, Iowa featured deep fried butter. Transcript provided by NPR, Copyright National Public Radio.
Outrage in China about the dozens of deaths last weekend when Beijing's drainage system couldn't cope with heavy rains and much of the city was flooded has been followed by more frustration and anger today.
Good morning. I'm Linda Wertheimer. Lucky Larry is a 17-pound lobster estimated to be at least 70 years old. He was not so lucky when he was trapped and sold to a restaurant in Connecticut. But Don MacKenzie stepped in. He bought Lucky Larry, but not for a dinner date. He sent him back out to sea. For a lobster to live this long and avoid traps, MacKenzie said, he does not deserve a bib and butter. It's MORNING EDITION. Transcript provided by NPR, Copyright National Public Radio.
Originally published on Thu August 2, 2012 11:23 am
Home is everything. It's where we come from and where we run to, wanting to start anew. But it's also that place we can't escape, the one that's so much a part of us that no matter how old we get, it's impossible to erase its presence from our memories, our bodies.