Business

Business
3:18 am
Wed September 12, 2012

4 Years After Bankruptcy, How Is Lehman Faring?

Originally published on Wed September 12, 2012 7:28 pm

Transcript

RENEE MONTAGNE, HOST:

It was four years ago this week that the big Wall Street investment bank Lehman Brothers declared bankruptcy. Its collapse sent shockwaves around the world and brought on the worst of the financial crisis. But the story didn't end there. Lehman Brothers is still in business - sort of.

Planet Money's Adam Davidson went to its offices in New York, and is here to tell us about it.

Good morning.

ADAM DAVIDSON, BYLINE: Good morning.

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Business
3:18 am
Wed September 12, 2012

Velvet Underground Loses Banana Case

Originally published on Wed September 12, 2012 7:28 pm

Transcript

STEVE INSKEEP, HOST:

Here in the United States, a court has been considering the fate of an iconic fruit. And that's our last word in business today.

Forty-five years ago, the artist Andy Warhol created an album cover for the rock band The Velvet Underground, an album cover featuring a stylized banana. The Warhol banana has remained a popular image, moving from an album cover to iPhone covers.

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NPR Story
3:13 am
Wed September 12, 2012

IRS Awards $104 Million To Whistle-Blower

Originally published on Wed September 12, 2012 7:28 pm

Transcript

STEVE INSKEEP, HOST:

After a scandal, somebody finally gets rich for doing the right thing. It's NPR's business news.

A former banker, Bradley Birkenfeld, has just been awarded $104 million by the IRS. That is believed to be the largest amount ever paid to an individual whistle-blower. Birkenfeld told the IRS how a Swiss bank was helping thousands of Americans evade taxes, and was then thrown in jail.

RENEE MONTAGNE, HOST:

NPR's Wendy Kaufman has more.

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All Tech Considered
5:17 pm
Tue September 11, 2012

11 Takeaways From Zuckerberg's First Interview Since Facebook's IPO

Facebook CEO Mark Zuckerberg emphasized his company's mobile-centered future Tuesday, in his first public comments since Facebook's troubled IPO.
Eric Risberg AP

Originally published on Tue September 11, 2012 6:08 pm

Facebook CEO Mark Zuckerberg gave his first public interview after his tech company's rocky IPO and the disappointing stock performance that followed. Facebook's share price is now worth about $19 — half as much as it was priced back in May when its stock first went on the market.

Zuckerberg took questions from Michael Arrington at TechCrunch Disrupt, a San Francisco conference for startups. We watched and listened in to the talk in case you missed it:

Building a mission and business go hand-in-hand

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Economy
3:02 pm
Tue September 11, 2012

U.S. Treasury Cuts Stake In AIG With $18 Billion Sale

Originally published on Tue September 11, 2012 7:57 pm

Transcript

AUDIE CORNISH, HOST:

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

MELISSA BLOCK, HOST:

And I'm Melissa Block. The U.S. government made a big chunk of money in the stock market today. It sold more than 630 million shares in AIG, the American International Group. The government reluctantly acquired the shares when it injected billions of dollars into the insurance giant to keep it from collapsing. The Treasury Department says the government turned a $15.1 billion dollar profit on the deal. Here's NPR's John Ydstie.

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Shots - Health Blog
2:02 pm
Tue September 11, 2012

Insurance Costs Rise, But More Slowly

Heath coverage will cost you more than last year, but not as much as it might have.
iStockphoto.com

Originally published on Wed September 12, 2012 5:44 am

If you get health insurance on the job, chances are it cost more again this year.

Annual family health insurance premiums rose about 4 percent to $15,745 in 2012, according to the latest survey by the Kaiser Family Foundation and Health Research and Educational Trust.

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The Salt
1:48 pm
Tue September 11, 2012

How Oregon's Prized Pinot Noir Grapes Will Take The Heat Of Climate Change

Pinot noir grapes are notoriously finicky about the weather, and climate change has winemakers in Oregon thinking about the future.
Greg Wahl-Stephens AP

Originally published on Wed September 19, 2012 2:08 pm

Some grapes like it hot.

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Money Coach
10:03 am
Tue September 11, 2012

Are You Susceptible To 'Seduction By Contract'?

The new iPhone is expected to be unveiled this week, and customers can probably get a discount if they sign up for a lengthy service agreement. But New York University Law Professor Oren Bar-Gill tells host Michel Martin that consumers should think twice before signing the dotted line for things like phones, credit cards or mortgages.

Planet Money
10:02 am
Tue September 11, 2012

The iPhone 5 And The Economy: Don't Believe The Hype

Waiting to help the economy grow.
Kiichiro Sato AP

Originally published on Wed September 12, 2012 10:13 am

The iPhone 5 will give a nice boost to U.S. economic growth in the last three months of this year, according to a new note from JPMorgan.

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The Two-Way
9:58 am
Tue September 11, 2012

GoDaddy Says Outage Was Not Caused By Hack

GoDaddy logo.
GoDaddy

The web hosting company GoDaddy says it has finished an investigation into yesterday's outages and the company has concluded that it was not caused by an external hack.

As we told you yesterday, many of GoDaddy's members complained that their websites were inaccesible for a while on Monday. The company hosts some 5 million websites and has registered more than 53 million domain names.

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Business
3:25 am
Tue September 11, 2012

Millions Of New Jobs, But Many Don't Pay Well

Originally published on Tue September 11, 2012 7:57 am

Transcript

RENEE MONTAGNE, HOST:

The economy added only about 100,000 private sector jobs last month - far fewer than had been expected.

And as NPR's Wendy Kaufman reports, a close reading of the numbers reveals that many of those jobs are low wage.

WENDY KAUFMAN, BYLINE: Some of the nation's job growth has been in places like this - a suburban mall near Seattle. While many shoppers aren't spending like they did before the economic crash, they are buying more than they did a couple of years ago.

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Business
3:18 am
Tue September 11, 2012

No-Go For Web Hosting Service Go Daddy

Originally published on Tue September 11, 2012 7:57 am

Transcript

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with a no go for Go Daddy.

Business
3:18 am
Tue September 11, 2012

Coca-Cola Returns To Myanmar

Originally published on Tue September 11, 2012 7:57 am

Transcript

RENEE MONTAGNE, HOST:

Our last word in business today is: soda diplomacy. The long isolated Southeast Asian nation of Myanmar, also known as Burma, is now undergoing dramatic political reform and opening up to the outside world. The U.S. recently lifted sanctions and sent an ambassador there. And what comes next? Coca-Cola.

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Presidential Race
1:31 am
Tue September 11, 2012

Rhetoric Aside, Few Details Of Romney's Tax Plan

Republican presidential nominee Mitt Romney campaigns at PR Machine Works in Mansfield, Ohio, on Monday.
Charles Dharapak AP

Originally published on Tue September 11, 2012 1:59 pm

Republican presidential nominee Mitt Romney's proposal to overhaul the tax code continues to draw scrutiny.

Romney says it is possible to cut tax rates without driving the government deeper into the red, and that he can make up for the lost revenue by closing tax loopholes. But analysts have had a hard time testing Romney's claim because he hasn't offered many specifics.

When he was pressed by NBC's David Gregory this weekend to give an example of a loophole he would close, Romney didn't offer much detail.

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Middle East
1:29 am
Tue September 11, 2012

Fears Of Currency Devaluation Mount In Egypt

Egypt's stock market has been volatile since Hosni Mubarak was ousted. Though analysts say there are reasons for cautious optimism, concerns about the country's currency remain.
Khalil Hamra AP

Originally published on Tue September 11, 2012 2:00 pm

Egyptians have been struggling economically since the revolution last year that ousted President Hosni Mubarak. The Egyptian pound has remained relatively stable, though, because the central bank shored it up through foreign reserves, which prevented food prices from skyrocketing.

But despite increasing political stability, concerns about the currency remain.

The market has been volatile since Mubarak was ousted, swinging up and down with Egypt's political unrest.

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The Two-Way
2:04 pm
Mon September 10, 2012

GoDaddy Goes Down, Anonymous Member Takes Responsibility

GoDaddy logo.
GoDaddy

Originally published on Mon September 10, 2012 3:09 pm

The web hosting company GoDaddy has been experiencing severe outages today. Many of its members are complaining that their service is down.

How wide this outage spreads is hard to tell, but GoDaddy aknowledged it was having problems on its Twitter stream.

"We're aware of the trouble people are having with our site," it said. "We're working on it."

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Economy
9:39 am
Mon September 10, 2012

Master Violin Maker Feels Economy's Sour Notes

Originally published on Mon September 10, 2012 12:17 pm

Transcript

MICHEL MARTIN, HOST:

Now it's time to open up the pages of the Washington Post magazine. That's something we do just about every week for interesting stories about the way we live now. And today a story about the business of music.

(SOUNDBITE OF VIOLIN)

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The Two-Way
7:27 am
Mon September 10, 2012

Government To Sell Controlling Interest In Bailed-Out AIG

Originally published on Mon September 10, 2012 7:59 am

Remember the dark days of 2008 when insurer American International Group Inc., better known as AIG, nearly collapsed under the weight of the mortgage crisis before Washington rode to the rescue to the tune of $182 billion?

Then there was the public outrage when AIG executives got millions in bonuses after receiving the largest of all of the Wall Street bailouts.

Since then, the New York-based insurance giant has been essentially a government-owned enterprise, with Uncle Sam holding a controlling share.

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Business
3:17 am
Mon September 10, 2012

U.S. To Sell $18 Billion In Shares Of AIG

Transcript

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with the USG selling some AIG.

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Business
3:17 am
Mon September 10, 2012

Hot Colors For Spring: Tender Shoots, Tidal Foam

Originally published on Mon September 10, 2012 4:31 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is: Tender Shoots.

That's one of the hot colors for Spring 2013, according to a statement from Pantone, the New Jersey color company that works with designers to decide the dominant hues for the fashion industry each season. And since it's fashion week in New York, we're paying attention to this.

Tender Shoots tops a list for women. Pantone describes it as vibrant yellow-green - invigorating, active and cheerful.

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Election 2012
3:17 am
Mon September 10, 2012

Who's Responsible When A Business Succeeds?

Transcript

RENEE MONTAGNE, HOST:

A recurring debate in the American presidential contest is who is responsible when a business succeeds. Campaigning in Virginia this weekend, Mitt Romney repeated his assertion that it's individual entrepreneurs.

MITT ROMNEY: I've been impressed by the American spirit of people who are can-do and take-charge, want to start and build things. And by the way, they do build it themselves.

(SOUNDBITE OF CHEERING)

STEVE INSKEEP, HOST:

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Author Interviews
1:28 am
Mon September 10, 2012

Why Knockoffs Are Good For The Fashion Industry

Originally published on Mon September 10, 2012 12:48 pm

During New York Fashion Week, designers will present looks that you might find in a department store next spring ... or, as knockoffs at Forever 21. That's because copying fashion designs is perfectly legal — and that's a good thing, if you ask Kal Raustiala.

Raustiala is the co-author of a new book called The Knockoff Economy: How Imitation Sparks Innovation. He talks with NPR's Renee Montagne about who copies fashion designs, why it's legal and how copying ultimately benefits the consumer and the industry.

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Business
5:24 am
Sun September 9, 2012

After 73 Years At Macy's, Employee Retires

Originally published on Sun September 9, 2012 11:43 am

Transcript

LINDA WERTHEIMER, HOST:

Rose Syracuse has held one job - one job only - for her entire life. For 73 years, she worked mainly in the accounts department at the Macy's Department store on 34th Street in Manhattan. She's worked for Macy's longer than anyone else - ever. And last week, after all those decades, she retired. Rose Syracuse joins us on the line from New York. Thank you very much for taking the time to talk to us.

ROSE SYRACUSE: Oh, that's fine. And Rose Syracuse would not have retired if she hadn't broken her hip.

WERTHEIMER: Oh, dear.

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All Tech Considered
4:12 am
Sun September 9, 2012

The Tech Buyer's Dilemma: Timing The Plunge

Amazon Kindle vice president Peter Larsen holds the Kindle Fire HD at the introduction of the new tablet in Santa Monica, Calif., on Thursday.
Reed Saxon AP

If you're one of those people who covet the latest, greatest thing (assuming you can afford it), life's been pretty tough for you lately. The announcements of new handheld electronic gadgets — and rumors of those to come (Apple fans are standing by) — have come so rapidly that it's been hard to keep up with them all.

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Economy
3:01 pm
Fri September 7, 2012

New Unemployment Report Weaker Than Expected

Originally published on Fri September 7, 2012 4:18 pm

The jobs report released Friday morning came in weaker than expected. Employers added 96,000 jobs to payrolls. The unemployment rate did fall to 8.1 percent, but that was because so many people left the workforce.

It's All Politics
12:12 pm
Fri September 7, 2012

Deflating Jobs Report May Not Move The Needle On The Election

President Obama spoke at a campaign event at Strawbery Banke Museum in Portsmouth, N.H., on Friday.
Pablo Martinez Monsivais AP

Originally published on Fri September 7, 2012 12:52 pm

It wasn't what President Obama was hoping for: another disappointing jobs report the morning after he accepted the Democratic nomination and asked Americans to stay the course.

The U.S. economy added just 96,000 jobs last month, according to the Labor Department, and a drop in the unemployment rate to 8.1 percent was mostly due to people giving up on job searches.

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Economy
9:58 am
Fri September 7, 2012

What August Job Numbers Mean

The Labor Department reported that the economy added 96,000 jobs in August, far fewer than analysts had predicted. The unemployment rate fell from 8.3 percent to 8.1 percent, an indication that more people moved out of the workforce. Host Michel Martin discusses the latest unemployment numbers with NPR Senior Business Editor Marilyn Geewax.

The Two-Way
5:51 am
Fri September 7, 2012

High Unemployment & Slow Job Growth: Likely News From Today's Report

At a job fair in San Diego this week, Navy Sailor E-5 Cedric Washington spoke to Sim Garriotti from Lockheed Martin while interviewing for a potential position.
Sandy Huffaker Getty Images

Originally published on Fri September 7, 2012 8:34 am

The number of jobs on private and public payrolls grew by just 96,000 in August from July, the Bureau of Labor Statistics said this morning.

Meanwhile, the nation's unemployment rate edged down to 8.1 percent from 8.3 percent the month before. Often, the jobless rate dips even when employment growth is weak because the size of the labor force shrank as many Americans gave up looking for work.

It's a report that will surely add to the presidential campaign rhetoric.

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Business
2:39 am
Fri September 7, 2012

Business News

Originally published on Fri September 7, 2012 8:15 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news begins with strike two.

Business
2:39 am
Fri September 7, 2012

Amazon Rolls Out Its New Kindle E-Readers

Originally published on Fri September 7, 2012 8:15 am

Transcript

STEVE INSKEEP, HOST:

A new line of tablet readers is at the top of NPR's business news.

(SOUNDBITE OF MUSIC)

INSKEEP: They come from Amazon, which is rolling out its latest Kindle e-readers. They are faster, we're told, as well as cheaper. And as NPR's Steve Henn reports, they're aimed squarely at the youngest members of the family.

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