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Biden, Harris making first trip together since Biden dropped out of 2024 race

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President Joe Biden and Vice President Kamala Harris will make their first trip together since the president dropped out of the 2024 race. And Columbia University’s president becomes the latest Ivy League leader to step down following concerns of antisemitism on college campuses. These stories and more highlight The Morning Rundown for Thursday, Aug. 15, 2024.

Biden, Harris making first trip together since Biden dropped out of 2024 race

President Joe Biden and Vice President Kamala Harris will be in Maryland on Thursday, Aug. 15, for their first joint appearance since Biden dropped out of the 2024 race. Meanwhile, former President Donald Trump will be in Bedminster, New Jersey to host another news conference following his rally in the battleground state of North Carolina on Wednesday, Aug. 14.

The Biden and Harris are expected to focus on efforts to lower prescription drug costs Thursday, Aug. 15. On Friday, Aug. 16, Harris will be in North Carolina to lay out her own economic agenda, which is said to include a plan to “tackle inflation” and “lower costs for middle class.” 

The economy is taking center stage in the race this week, as Trump also laid out some of his plans for the economy when he was in North Carolina. He told rallygoers he plans to remove taxes on Social Security and claimed his administration would slash energy costs to ease inflation. 

With the Democratic National Convention (DNC) starting on Aug. 19 in Chicago, Trump’s campaign said it plans to offer some sort of counter-programming.  Harris’ presidential campaign is launching a $90 million advertising effort over the next three weeks. It’ll be her campaigns’ largest-yet investment in messaging to voters with just two and a half months left until Election Day. 

Walz agrees to vice presidential debate on Oct. 1 

On the vice presidential front, both Gov. Tim Walz, D-Minn, and Sen. JD Vance, R-Ohio, have also been busy. Each hit the campaign trail in solo appearances in rallies and fundraising events across battleground states. 

Vance held a rally in Michigan on Wednesday, Aug. 14, and will speak at a veterans event Thursday, Aug. 15 morning in Pennsylvania. Walz held events in Denver and Boston on Wednesday and will be campaigning in Newport on Thursday. 

Walz has also now officially accepted an invitation from CBS News for a vice presidential debate on Oct. 1.  

Vance has not formally accepted. He said in an interview he wants to know the debate rules and moderators first to avoid what he called a “fake news media garbage debate” but added he “strongly suspects” he will be there. 

Columbia University’s president resigns in wake of recent protests

Columbia University President Minouche Shafik has resigned effective immediately. It comes months after student protests over the Israel-Hamas war turned destructive, leading to multiple arrests and widespread criticism over how the university handled the demonstrations.

In April, more than 100 pro-Palestinian protesters were arrested, and an on-campus tent encampment was removed by New York City police after Shafik gave them the go-ahead. Students pushed back, leading to weeks of protests and widespread tent encampments before students ultimately ended up occupying the university’s Hamilton Hall

Shafik — who became the first woman and person of color to lead the university in 2023 — is the third Ivy League president to step down in recent months among concern over antisemitism on college campuses.

Hurricane Ernesto heads toward Bermuda after pounding Puerto Rico

A hurricane watch is in effect in Bermuda as Ernesto heads that way after dropping torrential rain on Puerto Rico. That storm also knocked out power to two-thirds of homes and businesses across the U.S. territory.

Ernesto, which is currently a Category 1 hurricane, is strengthening and could become a Category 3 hurricane by Friday, Aug. 16. Its center was expected to pass near Bermuda on Saturday, Aug. 17.

Cisco cuts 7% of workforce amid focus shift

Cisco Systems, one of the world’s largest makers of computer networking equipment, has announced its second round of job cuts this year. The tech company plans to cut about 7% of its workforce, which is expected to affect nearly 6,000 employees. 

This comes after the company already laid off around 4,000 workers in February. Cisco said the jobs cuts come as the company pivots its focus to artificial intelligence and cybersecurity.

Mars to buy Kellanova for $36 billion

The merger that’s shaking up the snack food aisle is now official. Candy giant Mars has acquired the snack food maker Kellanova. 

Mars, the company behind M&Ms and Snickers, is buying Kellanova, the maker of Cheez-Its and Pringles, for nearly $36 billion. 

The purchase is not expected to close until next year, but analysts have been discussing what’s in it for mars. Bank of America’s Peter Galbo told CNBC the deal gives Mars three things: Additional space in stores beyond the chocolate section, expansion in international markets and innovative new product opportunities.

“Then third and probably the most fun for the consumer, you’re going to get the fun innovation with the salty and sweet what we’ve seen out of Hershey over the past year with things like chocolate covered popcorn.” Galbo said. “Now Mars will have that opportunity with some of the Kellanova brands.” 

The Associated Press suggested the deal could lead to possible combinations like Skittles-flavored Pop-Tarts or Snickers-flavored Pringles.

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[KARAH RUCKER]

AS PRESIDENT BIDEN AND VICE PRESIDENT KAMALA HARRIS WILL BE IN MARYLAND TODAY AT THEIR **FIRST JOINT APPEARANCE SINCE BIDEN DROPPED OUT OF THE RACE. 

AND FORMER PRESIDENT DONALD TRUMP WILL BE IN BEDMINSTER, NEW JERSEY, TO HOST ANOTHER NEWS CONFERENCE FOLLOWING HIS RALLY IN NORTH CAROLINA ON WEDNESDAY. 

THE PRESIDENT AND THE DEMOCRATIC PRESIDENTIAL NOMINEE WILL BE SIDE BY SIDE ON STAGE TODAY IN THEIR FIRST APPEARANCE SINCE BIDEN’S RE-ELECTION BID ENDED. 

THEIR FOCUS WILL BE ON EFFORTS TO LOWER PRESCRIPTION DRUG COSTS. 

THEN TOMORROW — HARRIS WILL BE IN THE BATTLEGROUND STATE OF NORTH CAROLINA TO LAY OUT HER OWN ECONOMIC AGENDA — 

WHICH IS SAID TO INCLUDE A PLAN TO “TACKLE INFLATION” AND “LOWER COSTS FOR MIDDLE CLASS”. 

MEANWHILE TRUMP WILL BE BACK AT HIS GOLF CLUB TODAY TO HOLD A NEWS CONFERENCE — TAKING QUESTIONS FROM THE MEDIA FOR THE SECOND TIME THIS WEEK. 

THIS WEEK — THE ECONOMY TAKING CENTER STAGE IN THE RACE AS TRUMP ALSO LAID OUT SOME OF HIS PLANS FOR THE ECONOMY IN HIS NORTH CAROLINA RALLY ON WEDNESDAY — 

SAYING THERE WOULD BE NO TAX ON SOCIAL SECURITY — AND SAYS HIS ADMINISTRATION WOULD SLASH ENERGY COSTS AS A PLAN TO ALLEVIATE INFLATION. 

AND AHEAD OF THE DEMOCRATIC NATIONAL CONVENTION NEXT WEEK — TRUMP’S CAMPAIGN SAYS IT PLANS TO OFFER SOME SORT OF COUNTER-PROGRAMMING. 

HARRIS’ PRESIDENTIAL CAMPAIGN IS ALSO LAUNCHING A 90 **MILLION DOLLAR ADVERTISING EFFORT OVER THE NEXT 3 WEEKS. 

IT’S HER CAMPAIGNS’ LARGEST-YET INVESTMENT IN MESSAGING TO VOTERS WITH JUST 2 AND A HALF MONTH UNTIL ELECTION DAY. 

ON THE VICE PRESIDENTIAL FRONT — 

BOTH TIM WALZ ON THE DEMOCRATIC TICKET AND JD VANCE ON THE REPUBLICAN TICKET HAVE HAD BUSY WEEKS THEMSELVES — 

HITTING THE CAMPAIGN TRAIL IN SOLO APPEARANCES IN RALLIES AND FUNDRAISING EVENTS ACROSS BATTLEGROUND STATES. 

VANCE HELD A RALLY IN MICHIGAN ON WEDNESDAY AND WILL SPEAK AT A VETERANS EVENT THIS MORNING IN PENNSYLVANIA. 

WALZ HELD EVENTS IN DENVER AND BOSTON ON WEDNESDAY AND WILL BE CAMPAIGNING IN NEWPORT TODAY. 

AND WALZ — HAS NOW OFFICIALLY ACCEPTED AN INVITATION FROM CBS NEWS FOR A VICE PRESIDENTIAL DEBATE ON OCTOBER FIRST.  

VANCE HAS NOT FORMALLY ACCEPTED — HE SAID IN AN INTERVIEW LAST NIGHT THAT HE WANTS TO KNOW THE DEBATE RULES AND MODERATORS FIRST — TO AVOID WHAT HE CALLED A “FAKE NEWS MEDIA GARBAGE DEBATE.” 

BUT ADDED HE “STRONGLY SUSPECTS” HE WILL BE THERE.

COLUMBIA UNIVERSITY’S PRESIDENT MINOUCHE SHAFIK HAS RESIGNED EFFECTIVE IMMEDIATELY — MONTHS AFTER STUDENT PROTESTS OVER THE ISRAEL-HAMAS WAR TURNED DESTRUCTIVE… LEADING TO MULTIPLE ARRESTS AND WIDESPREAD CRITICISM OVER HOW THE UNIVERSITY HANDLED THE DEMONSTRATIONS. 

IN APRIL, MORE THAN 100 PRO-PALESTINIAN PROTESTERS WERE ARRESTED… AND AN ON-CAMPUS TENT ENCAMPMENT WAS REMOVED BY NEW YORK CITY POLICE AFTER SHAFIK GAVE THEM THE GO-AHEAD. 

STUDENTS PUSHED BACK — LEADING TO WEEKS OF PROTESTS AND WIDESPREAD TENT ENCAMPMENTS BEFORE STUDENTS ULTIMATELY ENDED UP OCCUPYING THE UNIVERSITY’S HAMILTON HALL. 

SHAFIK — WHO BECAME THE FIRST WOMAN AND PERSON OF COLOR TO LEAD THE UNIVERSITY JUST LAST YEAR — IS THE THIRD IVY LEAGUE PRESIDENT TO STEP DOWN IN RECENT MONTHS AMONG CONCERN OVER ANTISEMITISM ON COLLEGE CAMPUSES.

A HURRICANE WATCH IS IN EFFECT IN BERMUDA AS ERNESTO HEADS THAT WAY — AFTER DROPPING TORRENTIAL RAIN ON PUERTO RICO AND KNOCKING OUT POWER TO TWO-THIRDS OF HOMES AND BUSINESSES ACROSS THE U.S. TERRITORY. 

ERNESTO –WHICH IS CURRENTLY A CATEGORY 1 HURRICANE — IS STRENGTHENING AND COULD BECOME A CATEGORY 3 HURRICANE BY TOMORROW. 

ITS CENTER WAS EXPECTED TO PASS NEAR BERMUDA ON SATURDAY.

CISCO SYSTEMS — ONE OF THE WORLD’S LARGEST MAKERS OF COMPUTER NETWORKING EQUIPMENT — HAS ANNOUNCED ITS SECOND ROUND OF JOB CUTS THIS YEAR. 

THE TECH COMPANY PLANS TO CUT ABOUT 7 PERCENT OF ITS WORKFORCE… WHICH IS EXPECTED TO AFFECT NEARLY 6-THOUSAND EMPLOYEES. 

THIS AFTER THE COMPANY ALREADY LAID OFF AROUND 4-THOUSAND WORKERS IN FEBRUARY. 

CISCO SAYS THE JOBS CUTS COME AS THE COMPANY pivots ITS FOCUS TO ARTIFICIAL INTELLIGENCE AND CYBERSECURITY.

FINALLY THIS MORNING – IT’S THE MERGER THAT’S SHAKING UP THE SNACK FOOD AISLE. LAST WEEK WE TOLD YOU ABOUT REPORTS THAT CANDY GIANT MARS WOULD ACQUIRE THE SNACK FOOD MAKER KELLANOVA. AND NOW — IT’S OFFICIAL. 

MARS — THE COMPANY BEHIND M&MS AND SNICKERS – IS BUYING KELLANOVA – THE MAKER OF CHEEZ-ITS AND PRINGLES FOR NEARLY 36 BILLION DOLLARS. 

WITH THE PURCHASE EXPECTED TO CLOSE NEXT YEAR — ANALYSTS HAVE BEEN DISCUSSING WHAT’S IN IT FOR MARS. 

BANK OF AMERICA’S PETER GALBO TELLING CNBC THE DEAL GIVES MARS THREE THINGS – ADDITIONAL SPACE IN STORES BEYOND THE CHOCOLATE SECTION — and EXPANSION IN INTERNATIONAL MARKETS 

PETER GALBO | BOFA SECURITIES DIRECTOR OF EQUITY RESEARCH 

“And then third and probably the most fun for the consumer, you’re going to get the fun innovation with the salty and sweet what we’ve seen out of Hershey over the past year with things like chocolate covered popcorn – now Mars will have that opportunity with some of the Kellanova brands.” 

THE ASSOCIATED PRESS SUGGESTING THE DEAL COULD LEAD TO POSSIBLE COMBINATIONS LIKE SKITTLES-FLAVORED POP-TARTS or SNICKERS-FLAVORED PRINGLES. 

WE HAVE ONE MORE IDEA – HOW ABOUT TWIX-FLAVORED EGGO WAFFLES? HEY, IT COULD HAPPEN, RIGHT?