New federal security rules for issuing driver's licenses could cost $11 billion to implement, raising concerns among states about paying for the changes, according to a survey by the National Conference of State Legislatures released Thursday. The Real ID Act of 2005 will require states to incorporate common security features to prevent tampering or counterfeiting, such as using standard card materials and thorough document verification. Officials from California, which issues 25 million IDs, said it would cost $500 million over five years to comply with the law.
California Attorney General Bill Lockyer on Wednesday sued the six largest US and Japanese automakers, claiming they have caused millions of dollars in damage by creating greenhouse gases, which he argues are a "public nuisance" under both California and federal law.
Richard Branson, the billionaire behind the Virgin brand, said Thursday he will invest about $3 billion to combat global warming over the next decade. The news came during the second day of the Clinton Global Initiative in New York. Branson said he will funnel much of the profits generated by his transportation sectors toward weaning the world off oil and coal.
Wal-Mart Stores Inc. announced a pilot program Thursday that will slash its prices on 291 generic drugs to $4 for a month's supply, potentially luring customers away from pharmacy chains. The pilot program will launch Friday at 65 Wal-Mart, Neighborhood Market, and Sam's Club stores in Florida's Tampa Bay area.