Afternoon Coffee: Most Serious Drought in 25 Years, New FusionOps CEO, Dreamliners Grounded in Japan

"The price of corn has increased in recent weeks by 38 percent, and the price of beans is up 24 percent."
Drought Puts Food at Risk, U.S. Warns -- The Obama administration warned Wednesday that food supplies were at risk from the worsening drought afflicting more than half of the country and called on Congress to revive lapsed disaster aid programs. President Obama reviewed the situation with Tom Vilsack, the agriculture secretary, who called it "the most serious situation" in about 25 years and added that he was praying for rain. "I get on my knees every day, and I'm saying an extra prayer now," Mr. Vilsack told reporters at the White House after his discussions with Mr. Obama. "If I had a rain prayer or rain dance I could do, I would do it."

FusionOps says hello to Gary Meyers.
FusionOps Brings Self-Service Analytics to Supply Chain, Adds New CEO and High-Profile Customers -- FusionOps, a leading provider of self-service, best-practice, pre-built analytics for the supply chain, a segment of the business intelligence market, announced today that Gary Meyers has been brought in to lead the company as it prepares for its next stage of rapid growth. FusionOps also announced new high-profile customers for its cloud-based SaaS offering, including business users and analysts at Tesla Motors, KLA-Tencor, Kimball Electronics Group, and Albéa Group.

All Nippon Airways Grounds Dreamliners -- All Nippon Airways Co. grounded three Boeing Co. 787 Dreamliners after discovering a problem with its Rolls-Royce PLC engines. ANA spokesman Ryosei Nomura confirmed the problem, which was discovered on seven engines in five aircraft, including a Dreamliner that was delivered in late June. Two aircraft have since been returned to service but the other three "will need another few weeks to fix," Mr. Nomura said. The airline said it canceled two 787 flights Saturday, but other types of aircraft types are being substituted for the Dreamliner. A Rolls-Royce spokeswoman in Singapore said the company has identified the problem on a component in the Trent 1000 engine fitted in Boeing 787s and that it was "working hard to minimize disruption to customer operations."

McDonald's slashes prices in India.
McDonald's Struggles To Serve In India -- It's not that Indians don't like their junk food, they do, just like the rest of us. But fast food legend McDonald's is struggling to gain market share, seeing sales decline, and is slashing prices as a result in an effort to boost sales. In its biggest pricing strategy in the country yet, McDonald's said it will slash prices of entry-level and core products within categories like extra value meals, breakfast products and desserts by 6 percent to 15 percent starting August 1.

- Sheena Moore

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