Overnight Briefing & General Reality Check

Your tax dollars at work:

A Texas oil billionaire has met death, but not taxes.
   Thanks to a 2001 loophole that repealed the estate tax for a one-year period, DAN DUNCAN may become the first billionaire in nearly a century to pass along his fortune without having to hand part of it over to federal taxes.
   The tax historically applied to any estate worth more than $3.5 million, and thanks to fluctuating rates, if Duncan had died in 2009, he would have paid a 45 percent tax on his $9 billion estate, while if he had died next year, it would have been 55 percent. But because the oil tycoon died this year, it's looking like heirs might get it all.
   The lapse was signed into law by GEORGE W BUSH, and despite promising to close it before the beginning of 2010, Congress failed to get their act together, and it eventually went forward.
   Even if Congress does reintroduce the tax, it's unclear whether they'll be able to retroactively apply it to Duncan's estate.
   Forbes lists Duncan as the 74th richest man in the world. (Maiman)

The Economy:

Over the past three months, more people quit their jobs than were fired.
   It's an unusual sign, but a sign that confidence is growing over the economy. It's the first time that quitting has exceeding firing in more than fifteen months, and it suggests that people are less likely to hang on to bad jobs out of fear of not finding another.
   University of Chicago economists point to a century's worth of evidence that "quits" rise and layoffs fall as the job market improves.
   In April two million people quit their jobs, a 12 percent increase since January, when 1.75 million were fired that month --the lowest number in more than three years.
   While short-term job growth has been pretty dismal, economists are optimistic about longer-term prospects, says the Wall Street Journal. Business consultants say that when the recession struck, companies overextended their best employees and that many aren't planning to stick around for much longer. They'll bolt as the economy starts to turn.
   While not all the newly-unemployed have jobs waiting on the other side, many say that they're more optimistic about their prospects.
   As one VP of a staffing agency put it, "The hangover is over." (Maiman)

Broadcast, cable and video news:

Comedy Central has announced it's next celebrity roast target: DAVID HASSELHOFF.
   The former "Knight Rider" and "Baywatch" star --now 57-- has had some interesting alcohol-related incidents lately which could be fodder for comedians --although the panel has yet to be named for the roast. He's also reprising his role as Dr "Snapper" Foster on the soap, "The Young and the Restless," beginning next Tuesday (Jun 15).
   As for the Hoff himself, he "Bring it on! I'm ready to take the heat."
   The roast will be taped this summer in Los Angeles and air Sun, Aug 15.

Health and Medical Briefs:

Drinking and driving don't mix. But apparently smoking marijuana and driving isn't such a big deal.
   Writings in the Journal of Psychoactive Drugs explain that simulated driving skills were affected very little by the use of marijuana. Researchers did notice, however, that drivers who had been smoking were more easily distracted. (Page)

Use it or lose it:

LAURI LOEWENBERG is a dream expert. We work with her once a month and she not only is quick and witty but gives "sound bite" answers which moves the pace along. If you've got a good phone screener who can get the weird dreams, Lauri is a great guest. Her website (if you want to do some research); Book her by calling 888-536-5213 ext. 2. Feel free to use my name. (RB)