Elise Hu

UPDATE on Thursday at 1:44 p.m. ET: Instagram For Video Arrives

It's not your everyday real estate deal. A team of young entrepreneurs persuaded about 50 deep-pocketed investors to help them purchase a mountain. The deal just closed in April, and development on Utah's nearly 10,000-acre Powder Mountain is now underway.

"When we made those first phone calls, everybody's like, what? That being said, they know that we aren't kidding," says Jeff Rosenthal, co-founder of Summit, the group that led the purchase of the peak.

Lawmakers in Illinois are headed back to work next week to address the state's $100 billion pension crisis, the worst unfunded pension liability in the nation. While almost all states faced pension funding issues during the recession, none of them are looking at a predicament as severe as in Illinois. Every day it doesn't get fixed, the burden on taxpayers grows larger.

Gov. Rick Perry's outsized Texas swagger is coming to the heart of blue state America.

If you opt for the upgrade, changes are coming to your iPhone experience this fall. And if you want to shell out some cash right away, the latest line of MacBook Air computers boasts a lot more power and battery life, and the machines are available to ship today.

Apple chiefs announced their latest products and improvements Monday as part of the keynote at the company's annual Worldwide Developers Conference in San Francisco.

We kept an eye on the two-hour presentation so you didn't have to. The highlights:

Controversy is raging over a court order allowing the FBI and the National Security Agency to seize aggregate information of millions of Verizon customer phone calls.

For an academic contest pitting young spellers against the dictionary, the Scripps National Spelling Bee has taken on the intensity of the fiercest athletic events. Feeling the warmth of television lights — not to mention nerves and distractions — all while sports commentators are analyzing your "style" and approach is something only a select club of young word-nerdy Americans gets to experience. How does that early experience affect these mostly middle-school-aged kids later in life?

Lasting Memories

Yahoo's $1.1 billion purchase of Tumblr could be considered a bargain compared with its other big-dollar bets. The company's history is dotted with pricey purchases of once-hot Web properties that had more promise than eventual purpose. A look back:

GeoCities, 1999: $3.7 Billion

The Federal Aviation Administration continues work on its multibillion-dollar upgrade to the nation's air traffic control system, but it may not be enough to stop hackers from taking control of airplanes with a smartphone.

Mom Says: 'Learn Chinese'

Apr 9, 2013

My earliest memory of code switching is at Pizza Hut, back when Pizza Huts were sit-down restaurants with salad bars and garlic bread. (Like any daughter of immigrants, most of my memories involve food.) My mom and dad would speak with the waiters in English, ordering our pan-crust pizzas and Pepsi products, but we used Mandarin at the table. Our Mandarin was our secret code.

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