Good Thursday morning. Enjoy the last day of August!
President Trump could trigger a furious response from corporations and some members of his own staff if he green-lights a plan under consideration at the White House to end DACA, the Obama-era policy that suspends deportation of some undocumented workers who arrived as children.
Why it matters: Trump has faced an escalating revolt from CEOs — starting with the Muslim ban, increasing with his climate-change decision, and peaking with his handling of Charlottesville. Scores of high profile CEOs would pummel him publicly if he clears the way for mass deportation of kids.
The president has publicly agonized over the DACA decision — publicly lamenting its ugly human consequences — in a way he hasn't with other impending policies.
But senior officials tell us the majority view inside the Trump administration is that DACA is illegal, and the only way to deal with the problem of illegal immigrants who arrived here as children is for Congress to act.
It's for that reason that some top aides expect Trump will terminate it, even though he knows the backlash would be intense:
Be smart: The Harvey catastrophe in the border state of Texas make the optics of the decision even more brutal for the White House. So some top Republicans increasingly hope Trump, who was inclined to back his attorney general, will find a less drastic way to fend off conservative legal challenges to the program.
See 17 pics on 1 page, "Houston from the air," taken by AP's David Phillip, who has lived in Houston for two decades: His photos show "rows of suburban streets turned into canals and brownish floodwaters creeping up to rooftops. ... [A] mansion's long cul-de-sac driveway resembles a drawbridge over a moat."
The best step-back Harvey piece we've seen ... "Harvey Wasn't Just Bad Weather. It Was Bad City Planning ... Houston exulted in sprawling, free-form growth, but laissez-faire isn't the way to prepare for natural catastrophes," Peter Coy and Christopher Flavelle write in Bloomberg Businessweek's cover story:
The big picture: "It's a minor event for the $19 trillion U.S. economy, since most of the economic activity that was interrupted will be made up later. It was a light hit for insurers, because few underwrite flood insurance and the wind damage they do cover was minimal; insurers' stock prices barely fell. The refining and petrochemical industries lining the busy Houston Ship Channel also got off fairly lightly (this time), because they've invested heavily in storm defenses."
N.Y. Times Quote of the Day — Joel Kotkin, an urban theorist who has championed Houston's laissez-faire approach to development, which he credits for creating affordable housing but which may have also worsened the flooding: "Why would you live in a hot, humid, flat space if it was expensive?"
N.Y Times' David Leonhardt, "Harvey, the Storm That Humans Helped Cause": "Warmer weather causes heavier rainfall. Why? When the seas warm, more moisture evaporates into the air, and when the air warms — which has also been happening in Texas — it can carry more moisture."
An iPhone to be unveiled Sept. 12 will have facial recognition as the primary means of logging in, a technology that appears to be light years ahead of anything that has been tried commercially, Axios chief tech correspondent Ina Fried writes from S.F.:
P.S. Apple is close to becoming the first U.S. company valued at $1 trillion, per CNBC: "Apple shares hit a record high, coming within $30 a share of reaching a $1 trillion market cap. Investors are betting on strong iPhone 8 sales."
"Away from the cameras and apart from the nonstop drama of the White House, Defense Secretary Jim Mattis has come to play a role unlike any other Cabinet member," the WashPost's Greg Jaffe and Dan Lamothe write on the front page:
Be smart: Mattis is a linchpin of what we call the unofficial Committee to Save America — administration and congressional leaders who see themselves as playing a behind-the-scenes role in protecting Trump and the nation from some of his instincts.
"Lobbyist in Trump Tower meeting spoke to grand jury," by AP's Chad Day and Eric Tucker: "A grand jury used by Special Counsel Robert Mueller has heard secret testimony from a Russian-American lobbyist [Rinat Akhmetshin] who attended a June 2016 meeting with ... Trump's eldest son," plus Jared Kushner and Paul Manafort.
The number of movie tickets sold in the U.S. this summer (425 million) is likely to be the lowest level since 1992," the L.A. Times' Ryan Faughnder writes in a front-pager, "Theaters, studios hit by summer box-office blues."
"Pumpkin Spice Makes Early Arrival, but Some Complain of Christmas Creep," by N.Y. Times' Tiffany Hsu: " slew of pumpkin-flavored products inspired by fall are turning up earlier each year, arriving in July and August as a harbinger of a season that this year doesn't officially begin until Sept. 22."