Business

Book Reviews
2:58 am
Mon July 30, 2012

A Portrait Of A Country Awash In 'Red Ink'

Originally published on Fri August 3, 2012 3:15 pm

As the federal debt balloons, reducing it would seem more and more pressing. Yet policymakers remain far apart. Debt, deficit and budget rhetoric is often accompanied by numbers cherry-picked to support a particular political view.

But a new book by Wall Street Journal economics writer David Wessel lays out the numbers that both political parties face.

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Business
5:38 am
Sun July 29, 2012

Jack Daniel's To Author: Cease And Desist

Originally published on Sun July 29, 2012 9:58 am

Jack Daniel's Old No. 7 Tennessee Whiskey is an American classic with a distinctive black-labeled bottle that kind of looks like the typeface on an old wanted poster. Patrick Wensink wrote a novel called Broken Piano for President with a cover that was clearly inspired, maybe a little too much, by Jack Daniel's.

Business
5:38 am
Sun July 29, 2012

Apple Vs. Samsung Showdown Heads To Trial

Originally published on Sun July 29, 2012 9:58 am

Transcript

DAVID GREENE, HOST:

If you own a smartphone, chances are it's made by Apple or a company that Apple is suing. And for the first time tomorrow, one of those lawsuits is going to a jury trial. Apple wants more than two and a half billion dollars from Samsung for what it claims is patent violation.

NPR's Laura Sydell has been following this story and joins us. Hey, Laura.

LAURA SYDELL, BYLINE: Hi.

GREENE: So, two and a half billion dollars? I mean is that real? That's a huge amount of money.

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Shots - Health Blog
5:17 pm
Fri July 27, 2012

Longtime Chick-Fil-A Spokesman Dies

The longtime spokesman of the fast-food chain Chick-fil-A has died.

The Atlanta-based company released a statement Friday announcing the death of Don Perry, 60.

"Don was a member of our Chick-fil-A family for nearly 29 years. For many of you in the media, he was the spokesperson for Chick-fil-A. He was a well-respected and well-liked media executive in the Atlanta and University of Georgia communities, and we will all miss him."

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Economy
2:32 pm
Fri July 27, 2012

U.S. Economy Continued To Slow In Second Quarter

Originally published on Fri July 27, 2012 4:02 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. The government said today that the U.S. economy continued to slow during the second quarter of the year. The overall U.S. growth rate fell to just 1.5 percent, as consumers cut back on purchases and spending by businesses, which has been a source of economic strength, also fell. NPR's Jim Zarroli tells us more.

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U.S.
2:24 pm
Fri July 27, 2012

Chick-Fil-A Gay Flap A 'Wakeup Call' For Companies

Protesters from the Human Rights Campaign chant against Chick-fil-A President Dan Cathy's anti-gay marriage stance in front of a Chick-fil-A food truck in Washington, D.C., on Thursday.
Kainaz Amaria NPR

Originally published on Fri March 21, 2014 3:07 pm

Atlanta-based Chick-fil-A has long stood by its Bible-based roots, keeping stores closed on Sundays and donating millions to Christian causes. But when its president, Dan Cathy, went public to defend his company's stance against gay marriage, he set off a considerable controversy that has everyone from politicians to puppets weighing in.

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Planet Money
2:24 pm
Fri July 27, 2012

Losing With LIBOR: One Trader's Story

London-based Barclays Bank agreed to pay a $453 million fine over charges it manipulated the London Interbank Offered Rate — LIBOR — a key global interest rate.
Oli Scarff Getty Images

Originally published on Fri July 27, 2012 4:02 pm

We've been talking a lot lately about what's been dubbed the "LIBOR rate fixing scandal," where some of the biggest banks in the world have been accused of manipulating a key global interest rate.

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Media
2:24 pm
Fri July 27, 2012

CNN's President Steps Down Amid Poor Ratings

Originally published on Fri July 27, 2012 4:02 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. After more than three decades at CNN, the company's president is stepping down. His resignation is an admission of the challenges facing the profitable but poorly rated network. NPR's David Folkenflik has that story.

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Law
2:24 pm
Fri July 27, 2012

LCD Price-Fixing Ends With Historic Settlement

Originally published on Fri July 27, 2012 4:02 pm

Transcript

ROBERT SIEGEL, HOST:

In San Francisco today, a federal judge gave preliminary approval to a multimillion dollar settlement. It comes in response to a class action lawsuit over the cost of LCD computer and television screens. The deal, once it's finalized, will be the largest settlement ever in a class action case about price-fixing.

From member station KQED, Aarti Shahani explains.

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The Two-Way
2:13 pm
Fri July 27, 2012

Google Admits It Did Not Delete Data Taken From Wi-Fi Devices

The camera mounted on a Google Street View car used to photograph whole streets obscures part of the U.S. Internet giant's logo.
Daniel Mihailescu AFP/Getty Images

We told you before about the Google Street View vehicles that illegally collected data from unprotected Wi-Fi devices while they took pictures of the streets in Europe, Australia and the United States.

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Economy
1:57 pm
Fri July 27, 2012

Will A Slowing GDP Nudge The Fed To Do More?

Federal Reserve Chairman Ben Bernanke appears before the House Financial Services Committee July 18. Economists expect Fed policymakers to consider further steps to boost growth when they meet next week.
J. Scott Applewhite AP

The Commerce Department's latest report confirms that economic growth was as lousy this spring as you suspected it was.

Now the question is: Can anyone do anything to make it better in the year's second half?

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Planet Money
10:32 am
Fri July 27, 2012

The U.S. GDP, Sliced And Diced In Two Graphics

Lam Thuy Vo / NPR

Originally published on Sun July 29, 2012 4:31 pm

No surprise: The economy grew only sluggishly in April, May and June. The U.S. Commerce Department says gross domestic product — the sum of all goods and services produced in the country — grew by just 1.5 percent in the second quarter.

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The Salt
9:44 am
Fri July 27, 2012

McDonald's Food Has A Healthy Glow, At Least In China

Tomatoes getting a splash of water reinforces the notion that McDonald's food is wholesome in China, as seen in this video screengrab.
McDonald's China

Originally published on Mon October 22, 2012 9:34 am

Here in the U.S., McDonald's food is not usually considered all that healthy. But in China, it is.

That's because Chinese consumers trust American brands more than their own, says Shaun Rein, founder of China Market Research, who studies Chinese consumer behavior. Rein says that in China, McDonald's is seen as providing safe and wholesome food.

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The Two-Way
5:38 am
Fri July 27, 2012

Did Economy Slow Further In Second Quarter? We Find Out Today

Originally published on Fri July 27, 2012 8:01 am

The economy grew at a sluggish 1.5 percent annual rate in the second quarter, the Bureau of Economic Analysis reported this morning, down from a 2 percent pace in the first quarter.

This is the bureau's first estimate of GDP growth in the spring months. It will revise the figure twice in coming months. It's now 8:33 a.m. ET. We'll have more about the report shortly.

Update at 10 a.m. ET. The White House Points To String Of Positive Quarters:

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Business
4:19 am
Fri July 27, 2012

Hearing Postponed In Peregine CEO's Fraud Case

Originally published on Fri July 27, 2012 3:09 pm

Transcript

LINDA WERTHEIMER, HOST:

Russell Wasendorf had hoped he'd be released on bail today, but the bail hearing has been postponed. So the former head of Peregrine Financial Group remains in jail, and the business empire he built continues to crumble.

Iowa Public Radio's Pat Blank reports Wasendorf's once fairy tale lifestyle came to an abrupt end earlier this month. He was arrested following an unsuccessful suicide attempt.

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Business
4:16 am
Fri July 27, 2012

Facebook Earnings Reflect Slowing Ad Revenue

Originally published on Fri July 27, 2012 9:44 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with earnings at Facebook.

(SOUNDBITE OF MUSIC)

MONTAGNE: For the first time as a public company, Facebook has reported it's earnings. After its botched IPO, investors were hoping for a big, positive surprise to put the shine back on the social network. That didn't happen.

As NPR's Steve Henn reports, Facebook recorded a loss.

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Around the Nation
11:13 pm
Thu July 26, 2012

L.A. Council Bans Pot Shops After Regulation Struggle

Pedestrians walk past a medical marijuana dispensary in the Echo Park area of Los Angeles Tuesday. The City Council voted that day to ban marijuana shops outright.
Damian Dovarganes AP

Originally published on Fri July 27, 2012 9:44 am

The Los Angeles City Council voted Tuesday to shut down all of the medical marijuana dispensaries in the city. That's no easy task. There are more than 800 of them — more than the number of Starbucks coffee shops in Los Angeles. But after years of struggling to regulate pot shops, city officials have decided to prohibit them altogether.

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Planet Money
11:13 pm
Thu July 26, 2012

How To Set Up An Offshore Company

Lam Thuy Vo / NPR

Originally published on Thu August 2, 2012 12:51 pm

Setting up an offshore company in a tax haven is surprisingly easy. A simple Google search offers up thousands of companies willing to help you do it.

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It's All Politics
11:13 pm
Thu July 26, 2012

Obama Would Pay More — Romney, A Lot More — If Bush-Era Tax Cuts End

President George W. Bush signs tax cut legislation on June 7, 2001. The cuts from this and a subsequent bill are set to expire at the end of 2012.
Stephen Jaffe AFP/Getty Images

Originally published on Fri July 27, 2012 1:42 pm

An occasional series, Fiscal Cliff Notes breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.


About 80 percent of Americans would see their taxes go up if all the tax cuts signed into law by President George W. Bush were to expire as scheduled at the end of this year. And nearly 100 percent of the highest income earners would have to pay more — including both the Obamas and the Romneys.

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Business
2:50 pm
Thu July 26, 2012

Facebook Reports Net Loss After Bumpy IPO

Originally published on Thu July 26, 2012 4:24 pm

Facebook reported a net loss for the second quarter in its first earnings report since a bumpy initial public offering. The company's share price has fallen sharply since the first day of trading. Audie Cornish speaks with Steve Henn.

U.S.
2:50 pm
Thu July 26, 2012

Bypassing College Dreams, A Different Road To Work

Kelly Thompson, a mentor at Siemens, gives apprentices an orientation of the factory. The program provides on-the-job training in manufacturing.
Courtesy of Siemens Energy Inc.

Originally published on Fri July 27, 2012 3:10 pm

Rebeca Espinal admits with a shy smile that she's a straight-A math student. She's a high school graduate who dreamed of going to college.

Instead, Espinal, 17, is working in a Charlotte, N.C., factory that makes gas turbines and generators. She is an apprentice with the German company Siemens.

"I was planning on getting a degree in international relations, but with financial aid and how difficult it is to pay for college and everything," she says. "So when Siemens came along and gave me the offer, it was too good of an opportunity to just let it go.

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The Two-Way
11:33 am
Thu July 26, 2012

How's Facebook Really Doing? Investors Will Soon Find Out

Mobile devices are key to Facebook's growth potential. Can it deliver?
Karen Bleier AFP/Getty Images

Originally published on Thu July 26, 2012 2:41 pm

Update at 4:33 p.m. ET. Right At Expectations:

Facebook reported slightly stronger than expected profits. For the second quarter, it reported a net loss of $157 million or 11 cents a share. But when it adjusted its earnings to remove stock compensation charges related to its IPO, Reuters reports, Facebook actually made 12 cents a share.

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Planet Money
11:12 am
Thu July 26, 2012

The Disagreement Behind Our Economic Platform

Center for Economic and Policy Research

In putting together our dream economic platform, we did have to wade through a lot of disagreement among our panel of economists to get to the six points of major agreement.

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The Two-Way
6:55 am
Thu July 26, 2012

Jobless Claims Drop, Previous Week's Increase Erased

The number of people filing first-time claims for jobless benefits fell by 35,000 last week, to 353,000, the Employment and Training Administration just reported.

That brings the level about back to where it was three weeks ago and down near a four-year low — but also keeps claims in the range where they've been trending for about the last year.

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London 2012: The Summer Olympics
5:36 am
Thu July 26, 2012

Watching The Olympics, Online And Everywhere

Originally published on Thu July 26, 2012 4:12 pm

Transcript

LINDA WERTHEIMER, HOST:

Back in 2010, during Vancouver's Winter Olympics, the iPad did not exist. When Beijing hosted opening ceremonies in 2008, Apple's app store was less than a month old. Now, for the first time ever, millions of people are expected to watch some of the Olympics on their phones, tablets or other gadgets.

NPR's Steve Henn takes a look at what it will take to make the games fully digital.

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Environment
5:28 am
Thu July 26, 2012

In Drought-Stricken Midwest, It's Fodder Vs. Fuel

Originally published on Thu July 26, 2012 8:35 am

Transcript

RENEE MONTAGNE, HOST:

This is MORNING EDITION from NPR News. I'm Renee Montagne.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer.

In the Midwest, the drought is doing a number on the nation's biggest agricultural crop, corn. The USDA says half of the country's cornfields are in poor or very poor condition, and the short supply is driving up the price. Now, a fight between livestock farmers and ethanol producers over the high priced corn crop. Farmers say ethanol factories have an unfair advantage.

NPR's Dan Charles reports.

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Sports
5:28 am
Thu July 26, 2012

Ichiro Fans In Japan Scramble For Yankees Gear

Originally published on Thu July 26, 2012 8:35 am

Transcript

LINDA WERTHEIMER, HOST:

Ichiro Suzuki's trade to the New York Yankees has thrilled Japanese fans, but they're not the only ones cheering. Importers of Major League goods are also happy.

Lucy Craft stopped at a store in Tokyo to check out the merchandise.

LUCY CRAFT, BYLINE: When news reached Japan that Ichiro had been acquired by the Yankees, Satoshi Kanazawa, manager of the Selection Baseball store, sprang into action.

SATOSHI KANAZAWA: (Foreign language spoken)

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Business
5:28 am
Thu July 26, 2012

Church Steeples Doubling As Cellphone Towers

Originally published on Thu July 26, 2012 8:35 am

Transcript

RENEE MONTAGNE, HOST:

Some churches are singing the praises of source a new source of revenue. Here is the church and here is the steeple. Open the door and see the cell phone towers?

LINDA WERTHEIMER, HOST:

That's right. And that's our last word in business today. Cellphone carriers are having a hard time finding places to build new freestanding towers, so they've reached agreements with churches like Catonsville Presbyterian in Maryland to put the antennas in steeples. There are three in that church.

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Business
5:28 am
Thu July 26, 2012

Caterpillar Inc. Strike Continues Amid Record Profits

Originally published on Thu July 26, 2012 8:35 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with a boost from Caterpillar.

(SOUNDBITE OF MUSIC)

MONTAGNE: Caterpillar is reporting a big increase in its profits - up 67 percent for the second quarter. The world's largest manufacturer of heavy construction and mining equipment is on pace to rake in record profits this year. But that hasn't motivated Caterpillar to sweeten its offer to union workers who are on strike at a plant outside of Chicago.

From Chicago, NPR's David Schaper has more.

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Planet Money
2:45 am
Thu July 26, 2012

Meet The Drug Dealer Who Helps Addicts Quit

Suboxone is used in the treatment of opiate dependence.
Drugs.com

Originally published on Fri July 27, 2012 5:56 am

A prescription drug called Suboxone helps wean people off of heroin and pain pills, but addicts have a hard time getting prescriptions. So they're turning to the black market.

An Albuquerque man who goes by the name Mystery Man has stepped in to fill the void. He says he illegally sells Suboxone every day.

To get Suboxone, Mystery Man has to find a patient with a Suboxone prescription, and give that person the $50 co-pay to fill it. He gets that money by selling, among other things, crack and guns.

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