Business

All Tech Considered
5:04 pm
Tue July 17, 2012

New Yahoo CEO Among A Rare Few: Women Execs With Tech Creds

Marissa Mayer left Google to become the CEO of Yahoo. She was Google's 20th hire and is responsible for the look and feel of many of Google's major products.
Justin Sullivan Getty Images

Originally published on Tue July 17, 2012 6:49 pm

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The Two-Way
4:19 pm
Tue July 17, 2012

HSBC Executive Resigns During Money Laundering Hearing

Originally published on Tue July 17, 2012 5:06 pm

David Bagley, HSBC's head of group compliance, resigned in the middle of a Senate hearing today that was looking into charges that the bank had been lax in meeting government requirements, allowing Mexican cartels to launder money and giving terrorists access to the American banking system.

Bloomberg reports:

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Business
2:55 pm
Tue July 17, 2012

All Eyes Are On Yahoo's New Female CEO

Originally published on Wed July 18, 2012 4:00 pm

Transcript

AUDIE CORNISH, HOST:

Marissa Mayer started work today at Yahoo. The fact that Yahoo's new CEO is a woman - and a young woman, just 37, has generated attention, but then came more unusual news. Marissa Mayer is pregnant. She's due to have her first baby in early October.

She told Fortune magazine: My maternity leave will be a few weeks long and I'll work throughout it. That, as you can imagine, has amplified this moment as a significant one in the history of women leaders in Silicon Valley.

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Business
2:54 pm
Tue July 17, 2012

HSBC Accused Of Letting Cartels Launder Money

Originally published on Tue July 17, 2012 3:16 pm

A Senate committee looked at the failure of HSBC bank to police money laundering.

Economy
11:58 am
Tue July 17, 2012

States Make Tough Calls To Close Budget Gaps

Originally published on Tue July 17, 2012 12:30 pm

Over half of U.S. states will have to close a combined budget gap of 55 billion dollars, according to a report by the Center on Budget and Policy Priorities in the 2013 fiscal year. To avoid raising taxes, most states are implementing continued cuts to deal with budget shortfalls.

It's All Politics
10:46 am
Tue July 17, 2012

Romney Repeats No-New-Tax-Releases Stance, Defends Offshore Accounts

Mitt Romney leaves a fundraiser in Baton Rouge, La., on Monday.
Evan Vucci AP

Originally published on Tue July 17, 2012 4:15 pm

Republican presidential candidate Mitt Romney continued Tuesday to push back on calls to release more years of tax returns and defended keeping investments in offshore accounts — both issues that have been dogging his run for the White House.

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Business
10:37 am
Tue July 17, 2012

Debt, Debt And More Debt: Is Democracy To Blame?

The marble statue of Plato stands in front of the Athens Academy in Athens. The ancient Greek philosopher had his doubts about democracy.
Dimitri Messinis AP

Originally published on Tue July 17, 2012 11:03 am

High-profile experts are staging two separate Washington press conferences Tuesday to demand action on public-debt problems. One group is targeting state budget crises; the other, the federal budget mess.

If the ancient Greek philosopher Plato were still alive, he might hold a third press conference to declare: "It's hopeless. I told you so. Democracy will always degenerate into chaos because people will vote for their immediate self interests, not the long-term good."

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The Two-Way
8:19 am
Tue July 17, 2012

In 'Dour' Report, Fed's Bernanke Says Economy Has Decelerated

Originally published on Tue July 17, 2012 12:10 pm

"The U.S. economy has continued to recover, but economic activity appears to have decelerated somewhat during the first half of this year," Federal Reserve Chairman Ben Bernanke tells Congress this morning in testimony prepared for his semiannual report on economic conditions and monetary policy.

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The Two-Way
5:26 am
Tue July 17, 2012

Drought In U.S. Now Worst Since 1956; Food Prices To Spike, Economy To Suffer

On Monday, a weed was growing through the dry earth at Marion Kujawa's pond, which he normally uses to water the cattle on his farm in Ashley, Ill.
Scott Olson Getty Images

Originally published on Tue July 17, 2012 3:16 pm

With about 55 percent of the continental U.S. suffering from "moderate to extreme drought" conditions the nation is withering under conditions that haven't been this bad since 1956, according to a new report from National Climatic Data Center.

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Business
2:48 am
Tue July 17, 2012

Self-Help Guru Covey Dies At 79 After Bike Accident

Originally published on Tue July 17, 2012 10:17 am

Transcript

RENEE MONTAGNE, HOST:

Today's last word in business could be several things: abundance mentality or win-win.

STEVE INSKEEP, HOST:

Or maybe sharpening the saw. Those are all aspects of "The 7 Habits of Highly Effective People." The author of that business Bible died yesterday. Stephen Covey was 79.

MONTAGNE: He wrote "The 7 Habits" in 1989. Years later, Covey appeared on this program. He was asked what skills of leader should have.

(SOUNDBITE OF ARCHIVED INTERVIEW)

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Business
2:48 am
Tue July 17, 2012

Tech World Star Marissa Mayer To Head Google

Originally published on Tue July 17, 2012 3:11 pm

Transcript

RENEE MONTAGNE, HOST:

And in Silicon Valley, the buzz is the latest hire by Yahoo. Marissa Mayer is the new CEO. Yahoo lured the 37-year-old away from Google, were she was one of that company's most prominent executives. She studied computer science at Stanford, was hired on as employee number 20 at Google, and as NPR's Steve Henn reports, she is something of a rock star in the tech world.

STEVE HENN, BYLINE: For years the rap on Yahoo has been: this company lacks focus.

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Business
2:48 am
Tue July 17, 2012

Silicon Valley Firm To Help UVA Expand Online Courses

Originally published on Tue July 17, 2012 10:17 am

Transcript

STEVE INSKEEP, HOST:

And we're here next about a new educational partnership with Silicon Valley. It's what the University of Virginia. You may recall last month, UVA's board of governors fired and then rehired President Teresa Sullivan. One reason some board members say they called for her ouster in the first place was that she had not moved quickly enough to expand the university's online courses. That has prompted new initiative being announced today, as NPR's Claudio Sanchez reports.

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Business
2:48 am
Tue July 17, 2012

Investigation: HSBC Laundered Drug Money

Originally published on Tue July 17, 2012 10:17 am

Transcript

STEVE INSKEEP, HOST:

An apology from a giant bank is at the top of NPR's business news.

(SOUNDBITE OF MUSIC)

Shots - Health Blog
1:05 am
Tue July 17, 2012

Deciding On Truvada: Who Should Take New HIV Prevention Pill?

Kevin Kirk (left) and James Callahan have been together for more than five years. Recently they sat down and talked about whether Kevin, who is HIV-negative, might want to start taking Truvada.
Richard Knox NPR

Originally published on Sat July 28, 2012 9:05 am

There's something new to prevent HIV infections.

The Food and Drug Administration on Monday approved a once-a-day pill that can drastically lower a person's risk of getting the virus that causes AIDS.

It's called Truvada — the first HIV prevention pill.

It's not cheap — around $13,000 a year — and it's not clear what insurers will pay for it. And there's worry that people taking the pill might relax safe-sex precautions.

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Economy
1:00 am
Tue July 17, 2012

Romney's Plan To Revive Jobs Has Mixed Results

Republican presidential candidate Mitt Romney speaks about job numbers July 6 at Bradley's Hardware in Wolfeboro, N.H.
Charles Dharapak AP

Originally published on Tue July 17, 2012 3:10 pm

Republican presidential candidate Mitt Romney says he can do better than President Obama at finding jobs for unemployed Americans. One way he would do that is by bringing back personal re-employment accounts.

When people lose their jobs, one of the first places they turn to is their state unemployment office, where they can sign up for unemployment benefits; they often can enroll in some kind of retraining class as well.

In 2004, the Bush administration conducted an experiment to begin privatizing a small part of the federal retraining program.

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Remembrances
5:03 pm
Mon July 16, 2012

Stephen Covey's 'Habits' Spanned Business, Life

Covey, a motivational speaker, died Monday in Idaho three months after a serious bicycle accident in Utah. He was 79.
Ric Feld AP

Originally published on Mon July 16, 2012 5:57 pm

Stephen Covey, the management and self-help guru who wrote The 7 Habits of Highly Effective People, has died. He was 79.

Covey's family said the writer and motivational speaker died at a hospital in Idaho Falls, Idaho, early Monday from complications caused by a bicycle accident in April.

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All Tech Considered
3:55 pm
Mon July 16, 2012

In-Q-Tel: The CIA's Tax-Funded Player In Silicon Valley

Infinite Z, a tech company funded by the CIA's venture capital fund In-Q-Tel, has developed 3-D imaging technology that allows users to interact with holographic images.
Courtesy of Infinite Z

Originally published on Tue July 17, 2012 3:13 pm

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The Two-Way
3:46 pm
Mon July 16, 2012

Yahoo Appoints Marissa Mayer, A Longtime Google Exec, As CEO

Marissa Ann Mayer gestures as she gives an interview in January of 2008.
Oliver Lang AFP/Getty Images

Yahoo is turning to a longtime Google executive to try to turn around the ailing company. Effective tomorrow, Marissa Mayer will be Yahoo's new chief executive. She will be the fifth CEO in as many years.

According to Yahoo's press release, Mayer was one of Google's first employees and most recently she was responsible for the company's local, maps and location services.

Mayer's job, reports the AP, is to help the company "rebound from financial malaise and internal turmoil."

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Business
3:31 pm
Mon July 16, 2012

For Jobs, Some Young Lawyers Are Keepin' It Rural

Attorney John Pabst, 66, does not have an associate ready to take over his practice in Albia, Iowa, after he retires. He is mentoring a law school student who is interning with him this summer with hopes the young attorney will decide to move to the area.
Sarah McCammon For NPR

Originally published on Wed July 18, 2012 7:42 am

Plenty of young aspiring lawyers dream of landing a job at a high-powered, big-city firm after graduation. So an internship in a sleepy, rural town might not sound like a dream summer job. But that's just what three law schools in Iowa and Nebraska are encouraging their students to consider.

With recent law school grads facing mountains of debt and one of the worst job markets in decades, practicing law in smaller towns is becoming more attractive for some young lawyers.

Kicking The Tires

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Business
2:54 pm
Mon July 16, 2012

Billionaire Adelson Under Fire For Macau Dealings

Originally published on Mon July 16, 2012 4:22 pm

Robert Siegel talks to Lowell Bergman about a ProPublica investigation into billionaire and Republican political contributor Sheldon Adelson. There are concerns that Adelson may have violated the Foreign Corrupt Practices Act in his payments to a Macau lawyer who represented his firm's interests in the booming gambling capital. Bergman co-reported the story with Stephen Engelberg and Matt Isaacs for the Investigative Reporting Program of the University of California at Berkeley and PBS Frontline.

Economy
2:09 pm
Mon July 16, 2012

Call Me Maybe When Your School Loan Is Paid In Full

Some young adults say their student loan debt affects their dating and marriage potential. A few have had partners break up with them over debt, while other couples forge ahead, but keep finances separate and avoid legal marriage.
iStockphoto.com

Originally published on Tue July 17, 2012 3:12 pm

The increasing debt load of college graduates has affected young people's lives in untold ways, from career choices to living arrangements. Now add another impact on a key part of young adult life: dating and marriage.

Rachel Bingham, an art teacher in Portland, Maine, learned this a few years back, when a guy broke it off after four months of a budding relationship. Among other reasons, he cited her $80,000 in student loan debt.

"He said it scared him," she recalls, "that it really made him anxious. And he just did not want to take on my responsibility."

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Planet Money
1:02 pm
Mon July 16, 2012

What Americans Earn

Lam Thuy Vo / NPR

Originally published on Mon July 16, 2012 1:29 pm

With all the talk about what to do with the Bush tax cuts — and whether they should be extended for no one, everyone, or everyone under a certain income cutoff — we thought it made sense to check in on how much Americans actually make.

Roughly $50,000. That's how much the median households makes in income and benefits per year. In other words, half of American households made less than $50,000 and half made more.

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The Salt
12:53 pm
Mon July 16, 2012

Coney: The Hot Dog That Fed Detroit's American Dream

Patrons pack in at American Coney in this undated photo. 1942
Courtesy Grace Keros

Originally published on Fri October 26, 2012 10:18 am

Take a hot dog from New York's famed Coney Island, throw in plenty of Greek immigrants and a booming auto industry, add some chili sauce, a steamed bun, chopped onions, mustard and an epic sibling rivalry and you've got the makings of a classic American melting pot story.

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Planet Money
11:25 am
Mon July 16, 2012

Rethinking Free Tuition, College May Risk Reputation

Cooper Union for the Advancement of Science and Art in New York City.
Library of Congress

Our show on Friday told the cautionary tale of the Red Cross, and how it earned the lasting suspicion of World War II veterans when it temporarily charged for once-free doughnuts.

Uri Simonsohn, a University of Pennsylvania business professor, chalked it up to "categorical change" — and the sense of betrayal veterans felt when they saw a fundamental shift in the very nature of their relationship with the Red Cross.

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The Two-Way
10:54 am
Mon July 16, 2012

Perk Of Being Rich: Facebook's Zuckerberg Pays 1 Percent Interest On Mortgage

Mark Zuckerberg, right, and Andrew Houston, founder and chief executive of Dropbox, wait in a parked car for the traffic to clear out at the Sun Valley Lodge during the Allen & Company Sun Valley Conference last week.
Kevork Djansezian Getty Images

Last Thursday, the interest rate on 30-year mortgages dipped to its lowest level ever: 3.56 percent.

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Economy
9:48 am
Mon July 16, 2012

AFSCME: Attacks On Public Sector Harm Middle Class

The American Federation of State, County and Municipal Employees, one of the country's largest unions, is facing a difficult climate. Local governments are slashing employee pensions and state governments are considering measures to curb collective bargaining rights. Host Michel Martin talks with Lee Saunders, AFSCME's new president.

Planet Money
7:59 am
Mon July 16, 2012

How A Bloated Wall Street Can Hurt Growth

Helping or hurting the economy?
Bebeto Matthews AP

We all know an out-of-control financial sector can cause acute and long-lasting problems, thanks to the recent financial crisis. But is there also a more chronic drag on the economy when the finance crowd gets too thick?

One recent paper (PDF) suggests so, and tries to quantify just how much a bloated financial sector can hurt economic growth.

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The Two-Way
6:49 am
Mon July 16, 2012

Retail Sales Dip For Third Straight Month, But Are Still Up From Year Earlier

The bad news: Retail sales fell 0.5 percent in June from May, the Census Bureau says. It's the third straight month that sales have been down from the month before.

But, Census adds that June sales were 3.8 percent above the pace of June 2011. And, "sales for the April through June 2012 period were up 4.7 percent ... from the same period a year ago."

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The Two-Way
5:29 am
Mon July 16, 2012

Here's A Scoop: When News Breaks, People Check YouTube For Videos

Russia Today

Originally published on Mon July 16, 2012 6:23 am

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Business
2:30 am
Mon July 16, 2012

Mitsubishi, Suzuki, Mazda Struggle In U.S Market

Originally published on Wed July 18, 2012 2:40 pm

Transcript

STEVE INSKEEP, HOST:

The recession came close to killing off some of the American automakers. Now in a slow recovery, the American companies are doing better. Japanese car companies, some of them, are struggling - in particular some of the smaller Japanese automakers are facing trouble. NPR's Sonari Glinton looks at the fortunes of what are known as the Little Three.

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