Arizona hires Desireé Reed-Francois from Missouri as its new athletic director amid financial challenges and the school's transition to the Big 12. Reed-Francois, the first female full-time athletic director in Arizona's history, faces a $177 million budget deficit and potential program cuts. Despite the turmoil, she brings a strong track record of success at Missouri, including financial growth and successful coaching hires, and will look to replicate that success at Arizona.
Virgin Galactic's stock price dropped over 17% after Richard Branson announced he would halt further financial contributions to the company, citing post-pandemic financial constraints. This decision comes as Virgin Galactic faces challenges such as recent layoffs and a suspension of commercial flights. While the company has enough funding to continue until the planned 2026 introduction of its upgraded spaceplane, some analysts anticipate the need for additional investment by 2025. Virgin Galactic, founded in 2004, is seeking to establish itself in the emerging space tourism market but now faces an increasingly challenging path forward.
Small business owners in the US are beginning to panic as lawmakers continue to battle over raising the debt ceiling. With the federal government being a major client for many small businesses, delayed payments, stalled projects, and sweeping layoffs could occur if the nation defaults. The consequences of a default could be catastrophic, including 7.8 million lost jobs and a $10 trillion loss in household wealth, according to estimates from Moody’s Analytics. Even if there is a last-minute deal, recent instability has already rocked businesses and added stress at a time when they’re already struggling to deal with high prices, rising borrowing costs, and pullbacks in consumer spending.
