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ranches after their parents die.
• Varilek said he believes the estates of millionaires and billionaires should be taxed, but the inheritance tax should not be placed on smaller estates like those of farm and ranch families.
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Search to begin for new SD Mines president
• PIERRE, S.D. (AP) -- The South Dakota Board of Regents is preparing to launch a search for the next president of the South Dakota School of Mines and Technology in Rapid City.
• President Robert Wharton died in September from complications from earlier cancer treatments. He had led the school since July 2008.
• Four regents have been chosen to serve on a search committee to find his successor. The board also is working to find representatives of the campus and the community to help in the search. The full search committee will have 16 members.
• The board hopes to name a new president by next May. In the meantime, Provost Duane Hrncir (HURN'-suhr) is acting president.
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Confident consumers give US retail sales a lift
MARTIN CRUTSINGER,AP Economics Writer
• WASHINGTON (AP) -- Americans spent more money at retailers in September -- a buying surge that reflected growing consumer confidence and the launch of the latest iPhone.
• Retail sales jumped 1.1 percent last month, producing the best two months of sales in two years, according to figures released Monday by the Commerce Department.
• "The consumer is back," said Joel Naroff, chief economist at Naroff Economic Advisors. "They are not spending money like it is going out of style, but they are spending at a more normal pace that is consistent with a moderately growing economy."
• The spike in spending could boost sluggish growth and help revitalize President Barack Obama's campaign after a strong debate performance by challenger Mitt Romney.
• The increase comes only 10 days after a report that unemployment fell to its lowest level since Obama took office. And it follows a survey last week by the University of Michigan that showed consumer confidence rose in early October to a five-year (Continued on page 29)
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