Friday Morning: Medicare Cuts Could Pummel Mass. Hospitals

Massachusetts teaching hospitals could lose about two-thirds of the federal money they receive for training residents if a proposal to reduce the rising costs of Medicare is part of a budget-cutting deal signed by President Obama. Industry analysts tell the Globe the proposal would be a one-time $322 million reduction in Medicare reimbursements and that it could destroy medical training programs.

I love walking along the Charles River, stopping at all of my favorite Boston haunts: Fenway Park, the State House and Quincy Market. If you watched the CBS broadcast of Boston’s Fourth of July celebration Monday night, you saw digitally-altered pictures of fireworks exploding behind many Boston landmarks. Of course, the landmarks are nowhere near the fireworks, in reality.

The FBI said that the tip that brought down James “Whitey” Bulger came from Iceland, but the Herald says that the people of Iceland aren’t buying it.

Catherine Grieg has had enough of life away from home, especially when her vacation spot went from a Santa Monica, Calif., condo to a federal penitentiary. Grieg, the Herald reports, will seek bail from a judge today.

Mobsters, sharks and bears, oh my! Massachusetts has become a dangerous place recently, with great white shark and black bear sightings in the area.

Hall of fame manager Dick Williams, partially responsible for the re-birth of the Red Sox, died yesterday. He drove ’67’s “Impossible Dream” team.

Watch out for pithy 140-character innovations, Twitter co-founder Biz Stone joined a Boston venture capital fund as a strategic advisor.

What we’re following: We’ll continue to report on a lawsuit filed against a Gloucester charter school, a Boston cop who has been charged with using excessive force and the Greig bail hearing.