GOOD DAY FOR: Driving down demand, after the Federal Highway Administration said U.S. motorists logged 4.7 percent fewer miles in June, compared with a year earlier, the eighth monthly drop in miles driven. Americans drove 250.2 billion miles in June, a drop of 12.2 billion miles from June 2007. (Los Angeles Times)
BAD DAY FOR: United Artists, after Paula Wagner, the now-ex-business partner of Tom Cruise, stepped down as head of the studio she was hired to revive. MGM chief Harry Sloan recruited Wagner and Cruise in 2006 to return UA to its former glory, but Wagner reportedly was unable to turn out enough films; UA released just one film, a flop, during her tenure. The studio’s imminent comeback now seems unlikely. (Los Angeles Times)
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