Morning Wrap: 5/9/12

Top of the morning’s news:

• The University of California says it will need yet another tuition increase of at least 6 percent next fall to stave off more layoffs and program closures. Chronicle
• San Francisco’s Fairmont Hotel on Nob Hill has officially changed hands for $200 million. SF Business Times 
• Sheriff’s investigators released photos of a red, four-door Jetta with a black hood that they recovered and say may be linked to the disappearance of Morgan Hill teenager Sierra LaMar. Chronicle
• A slowdown in births has demographers pushing back for another six years the date when California’s population is projected to top 40 million. Mercury News
• Pixar Studios co-founder and Walt Disney Animation Studios president Ed Catmull listed his Marin estate for $10.9 million. SF Business Times