While the International Time Clock prepares to add a leap second to the day Tuesday night, time is all but up for the country of Greece to pay its creditors.
NBC Fires Donald Trump
In response to remarks made by presidential candidate Donald Trump regarding Mexicans entering the United States, NBC Monday announced it is ending its business relationship with Trump and will no longer be the telecast host of his annual “Miss USA”” and “Miss Universe”” pageants. Those pageants h ad been a joint venture between NBC and Trump. NBC is still planning to show “Celebrity Apprentice” without Trump’s involvement. Last week, the Spanish-language station Univision said it was cancelling coverage of the beauty pageants in response to Trump’s comments that some immigrants from Mexico bring drugs and violent crime into the U.S.
Wait A Second
As Tuesday comes to an end, time will stop, for one second, so that the official clocks can match the rotation of the Earth. This so-called “leap second’’ is necessary for the world’s atomic clocks to sync up with the planet, but around the world, companies, market exchanges and computer systems worry the second could mess with their automatic systems. For one second, the Coordinated Universal Time clock of the International Telecommunications Union will show the time of 23:59:60, and the next second display the usual 00:00:00 to mark midnight on July 1. The practice of adding leap seconds when necessary began in 1972.
In an appearance in Wisconsin Tuesday, President Barack Obama will announce a new overtime pay law proposal for workers working more than 40 hours in a week and making up to $50,440 annually. The new law could affect as many as five million workers. Previously, the law applied only to those making up to $23,660 annually. “That’s how America should do business,’’ Obama said in a website post. “In this country, a hard day’s work deserves a fair day’s pay. That’s at the heart of what it means to be middle class in America.” The National Retail Federation opposes the new overtime law saying it would add to employer costs and eventually harm job creation.
Marilyn Monroe Still Matters
The original grave site marker for famed actress Marilyn Monroe sold at auction over the weekend for $212,500, more than one hundred times more than expected. The simple rectangular marker was owned by an employee of the Westwood Village Memorial park where Monroe is buried, and that employee obtained the marker when a new one was installed in the 1970s. According to Julien’s Auctions of Beverly Hills, the buyer was from overseas. Another Monroe item that sold at the auction was a dress she wore in the movie “Something’s Gotta Give” that sold for $348,000.
Time’s Up, Greece
By 6 p.m. Eastern Time Tuesday, Greece is required to pay 1.6 billion euros ($51.7 billion) to the International Monetary Fund or go into default on the loan and completely run out of funds to run the country. Greek officials have already stated they will be unable to make the payment, although the European Commission reportedly made a last-minute offer overnight that could stall the issue. Greece’s bailout fund, named the European Financial Stability Facility, expires at midnight Tuesday in Greece. Greek banks have faced a run on its cash for days and has limited the amount bank customers can withdraw.
Christie Jumps Into the Presidential Pool
On Tuesday, Chris Christie will become the 14th official Republican candidate for the 2016 nomination for President of the United States. The New Jersey Governor will launch h8is campaign at his former high school in Livingston, N.J. where he was class president. Christie’s reputation and poll numbers have taken a dip since the scandal known as Bridgegate, but he plans to use a “straight talk’’ approach to the campaign to reenergize his supporters.