Morning Wrap: 6/1/12

Top of the morning’s news:

• Mayor Lee proposed a budget that tops $7.3 billion for the fiscal year that begins July 1 and $7.6 billion the following year. Chronicle
• Ex-Major League Baseball commissioner Peter Ueberroth is among three new appointments to the America’s Cup advisory board. AP
• Mitt Romney made a surprise visit to the shuttered Solyndra solar energy plant in Fremont to accuse President Obama of squandering public funds. Oakland Tribune
• Arraignment for the suspect in the kidnapping and presumed murder of Morgan Hill teenager Sierra LaMar was postponed until July. Chronicle
• The Environmental Protection Agency has decided against declaring Cupertino’s Lehigh Cement quarry a Superfund cleanup site. Mercury News