Business

The Two-Way
6:34 am
Fri June 8, 2012

Chesapeake Energy CEO In Hot Seat Today

Chesapeake Energy CEO Aubrey McClendon.
Scott Detrow StateImpact/Pennsylvania

The NBA finals aren't the only big news in Oklahoma City.

This morning, shareholders of Chesapeake Energy, the natural gas driller at the center of the nation's hydraulic fracturing controversies, are meeting in Oklahoma City, where the company is headquartered. But the buzz at this gathering won't be about fracking or basketball. It will be about Aubrey McClendon, Chesapeake's controversial CEO.

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Business
3:19 am
Fri June 8, 2012

Demands Outweighs Supply Of Spain's Bonds

Originally published on Mon June 11, 2012 1:03 pm

Transcript

DAVID GREENE, HOST:

NPR's business news starts with Spain's banking crisis.

(SOUNDBITE OF MUSIC)

GREENE: What a roller coaster week it has been for Spain. There are fears that Spain lacks the money to rescue its own troubled banks and may need Europe's help.

Madrid did hold a successful bond auction Thursday and markets responded, but only until the Fitch ratings agency downgraded Spain's debt rating several hours later.

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Business
3:19 am
Fri June 8, 2012

New Products Unveiled At Electronic Entertainment Expo

Originally published on Mon June 11, 2012 1:03 pm

Transcript

RENEE MONTAGNE, HOST:

Here in Los Angeles this week, the video game industry gathered for its annual convention, the Electronic Entertainment Expo or E3. Companies like Microsoft, Sony and Nintendo unveiled new products and games.

For some highlights, we're joined by Harold Goldberg. He's a video game critic who was at the convention all week. Good morning.

HAROLD GOLDBERG: Good morning, Renee.

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Business
3:19 am
Fri June 8, 2012

The Last Word In Business

Originally published on Fri June 8, 2012 10:38 am

Transcript

DAVID GREENE, HOST:

And today's last word in business is: Crispy and cheesy and really, really profitable.

You might remember when we introduced you to Taco Bell's Doritos Locos Taco a few months ago. It's a taco made with a shell of Nacho Cheese Doritos. Taco Bell's chief executive hailed it as a flavor pairing waiting to happen. And after a huge media rollout, taco lovers have spoken by buying 100 million Doritos Locos Tacos in about 10 weeks. That is a whole lot of tacos.

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Business
1:18 am
Fri June 8, 2012

Despite Low Rates, Investors Rely On Treasurys

Originally published on Mon June 11, 2012 1:03 pm

Federal Reserve Chairman Ben Bernanke told a congressional committee Thursday that the U.S. economy faces some significant risks, and Fed officials are still deciding what to do about it.

His remarks disappointed a lot of investors who want the Fed to do something to revive growth. Bernanke spoke at a time when interest rates on government debt are hitting lows not seen since the Great Depression.

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Election 2012
1:02 am
Fri June 8, 2012

Will Economy Push Washington To Make A Deal?

President Obama speaks with House Speaker John Boehner during a meeting at the White House in 2011. A slowdown in job growth and a looming tax deadline could force the president to try to revive his "grand bargain" with Republicans.
Jewel Samad AFP/Getty Images

Originally published on Mon June 11, 2012 1:03 pm

The Obama administration is searching for a "sweet spot" in economic policy: measures that could increase job growth right now without worsening the federal deficit. That task gained new urgency this month when the Labor Department reported a sharp slowdown in job growth in May.

The challenge could force the president to try to revive his "grand bargain" with Republicans.

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Business
12:12 pm
Thu June 7, 2012

Which Workers Need Unions, And Which Don't?

Originally published on Thu June 7, 2012 12:34 pm

Union shops in the private sector have dwindled in recent decades. Now, public union leaders across the country worry that they're losing political clout, bargaining power and members. That raises questions about whether unions fallen victim to their own success, and who needs unions.

Economy
10:55 am
Thu June 7, 2012

Generation Rent: Slamming Door Of Homeownership

Neal Coleman and his wife, Rachel, are both in their mid-20s and attend graduate school at Indiana University in Bloomington, Ind. They say renting makes more sense for them and their young daughter until their family is a bit more settled.
Courtesy of Neal Coleman

Originally published on Thu June 7, 2012 12:07 pm

Kristi Taylor can pinpoint the precise moment she let go of the dream of homeownership. It was a few months ago, as she and her husband and infant son were driving through a neighborhood of homes near their apartment in Athens, Ga.

"As we were passing through, I realized that I don't really look at houses like I used to, when we would point out homes and say, 'That can be ours someday,' " says Taylor, who is 28. Now, she says, "the idea of homeownership is so vague, it doesn't even strike me as something that's in our future."

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The Two-Way
8:28 am
Thu June 7, 2012

Economy Is Poised For More Growth, But 'Fiscal Cliff' Looms, Bernanke Says

A word cloud of Federal Reserve Chairman Ben Bernanke's prepared testimony to the congressional Joint Economic Committee.
wordle.net

Originally published on Thu June 7, 2012 10:37 am

"Economic growth appears poised to continue at a moderate pace over coming quarters," Federal Reserve Chairman Ben Bernanke is telling Congress this hour, and will be supported in part by additional "accommodative monetary policy" from the central bank.

While there's been a slowing in job growth, Bernanke says that Fed policymakers believe household spending has been "relatively well sustained" and are encouraged by "consumer spentiment [that is] ... up noticeably from its levels late last year."

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The Two-Way
7:49 am
Thu June 7, 2012

Greek Unemployment Hits Record High, Is Nearly Double Eurozone Average

An elderly man walked by riot policemen guarding the Interior Ministry in Athens on Wednesday.
Kostas Tsironis AP

Originally published on Thu June 7, 2012 1:14 pm

  • Joanna Kakissis, reporting for NPR

(From Athens, correspondent Joanna Kakissis tells us about the latest news regarding the troubled Greek economy.)

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The Two-Way
6:42 am
Thu June 7, 2012

Jobless Claims Dipped Last Week

There were 377,000 first-time claims for unemployment insurance last week, down 12,000 from the week before, the Employment and Training Administration reports.

But in yet another mixed signal about how the economy's doing, that welcome dip is tempered by the fact that the "4-week moving average was 377,750, an increase of 1,750 from the previous week's revised average of 376,000." Economists watch that average because it offers a slightly larger look at the trend.

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The Two-Way
6:17 am
Thu June 7, 2012

After Big Gain, Markets Look To Rise Again; All Eyes On Bernanke

Originally published on Thu June 7, 2012 8:21 am

Following up on one of the best rallies in months on Wednesday, stock index futures are pointing to a higher start today on Wall Street, Dow Jones Newswires says.

The Associated Press says there are "hopes that Europe is preparing to take action to tackle the region's financial crisis and that the Federal Reserve will consider additional support for the U.S. economy."

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Business
3:18 am
Thu June 7, 2012

Big Data May Create Thousands Of Industry Jobs

Originally published on Thu June 7, 2012 4:24 am

The need to store digital information is growing. Tens of thousands of new jobs are expected to be created over the next six years to take full advantage of that ocean of information known as big data.

Business
3:18 am
Thu June 7, 2012

The Last Word In Business

Originally published on Thu June 7, 2012 5:04 am

Transcript

DAVID GREENE, HOST:

And today's last word in business is: no.

That's what HBO told fans who were hoping to watch shows like "Game of Thrones" on the web without having to go through a cable or satellite providers.

The premium channel was reacting to an Internet campaign, called Take My Money HBO.

RENEE MONTAGNE, HOST:

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Business
3:18 am
Thu June 7, 2012

What's Next For Organized Labor?

Originally published on Thu June 7, 2012 2:17 pm

Transcript

RENEE MONTAGNE, HOST:

It's MORNING EDITION, from NPR News. Good morning. I'm Renee Montagne.

DAVID GREENE, HOST:

And I'm David Greene.

We'll begin this program with the aftermath of Tuesday's recall election in Wisconsin. Public sector unions took on Republican Governor Scott Walker, and the governor won. Walker became the first U.S. governor to beat back a recall attempt. The unions had spent a lot time, money and political capital in Wisconsin.

NPR's Sonari Glinton reports on what's next for organized labor.

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Education
3:18 am
Thu June 7, 2012

How The Housing Industry Affects Students' Future

Originally published on Thu June 7, 2012 4:37 am

Transcript

RENEE MONTAGNE, HOST:

We're going to hear now about some surprising consequences of the weak housing market in this country. It turns out that the value - even on a paper - of a home can affect the college choices that a family makes.

NPR science correspondent Shankar Vedantam regularly joins us to discuss social science research. He's here this morning to talk about those new findings. And good morning.

SHANKAR VEDANTAM, BYLINE: Hi, Renee.

MONTAGNE: This new research, describe it for us.

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Business
3:18 am
Thu June 7, 2012

Business News

Originally published on Thu June 7, 2012 4:48 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with NASDAQ compensating clients.

(SOUNDBITE OF MUSIC)

MONTAGNE: The NASDAQ stock exchange will pay $40 million in compensation for botched trades that occurred during Facebook's initial public offering. NASDAQ clients lost millions of dollars on Facebook's May IPO because of computer glitches. The opening trade was delayed by more than half an hour, and many investors were unsure if their trades had gone through.

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Business
3:18 am
Thu June 7, 2012

Google Debuts Mapping Features, Apple Expected To Follow

Originally published on Thu June 7, 2012 4:28 am

Transcript

DAVID GREENE, HOST:

Google has fired the first shot in what might come to be known as the map wars. Yesterday, the company unveiled new features, such as maps in 3D. Google made its move just five days before Apple is expected to announce its own new and improved mapping software.

Google made its move just five days before Apple is expected to announce its own, new and improved mapping software. NPR's Laura Sydell reports.

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Business
2:44 pm
Wed June 6, 2012

Good Times For Airlines, So Where Are The Deals?

A Delta Air Lines flight takes off from the Ronald Regan National Airport in Washington, D.C. As the price of oil trickles down, the airline industry is projected to have a historic good year.
Jewel Samad AFP/Getty Images

Originally published on Wed June 6, 2012 5:29 pm

The rest of the economy may not be doing great, but airlines are expecting a banner year. Profitability is up and fuel prices are declining, but that's not necessarily great news for consumers.

When Robert Herbst, a former pilot and industry consultant for many years, says the skies are blue, it sounds pretty convincing. And from Herbst's projections, this may be a historic year for the airline industry.

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All Tech Considered
2:40 pm
Wed June 6, 2012

IPv6: A New Internet Expands The Web By Trillions Of Addresses

A new version of the Internet protocol system called IPv6 launched Wednesday, adding trillions upon trillions of new Internet addresses.
Courtesy of the Internet Society

Originally published on Wed June 6, 2012 5:31 pm

You may not have noticed when you woke up today, but the Internet universe expanded overnight by the trillions.

Today at midnight, Greenwich Mean Time, the new Internet protocol system IPv6 was born, bringing "more than 340 trillion, trillion, trillion" extra Internet protocol addresses into the world, according to the Internet Society, the nonprofit, Internet policy organization that is behind the system's launch and also controls the .org domain.

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Politics
1:48 pm
Wed June 6, 2012

What Wisconsin's Recall Means For Labor Unions

Rick Muir, president of the Indiana Federation of Teachers, chanted with other protesters at the Statehouse in Indianapolis in February 2011 over legislation limiting collective bargaining for teachers. Months later, it became law.
AJ Mast AP

Originally published on Wed June 6, 2012 3:06 pm

The Wisconsin recall election might have failed, but it succeeded in sending an ominous message to pro-labor forces across the nation — especially in the Midwest, where a handful of legislatures are pushing to roll back collective bargaining and other union rights.

The vote against Republican Gov. Scott Walker was prompted by his support for a law limiting collective bargaining for some public sector employees. His victory Tuesday night could embolden governors in states such as Ohio, Indiana and Missouri to push back harder on labor rights.

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The Two-Way
12:11 pm
Wed June 6, 2012

Economy Grew At 'Moderate Pace' In April And May, Federal Reserve Says

Anecdotal reports from across the nation "suggest overall economic activity expanded at a moderate pace" from early April through late May, the Federal Reserve just reported.

In its "beige book" review of conditions around the country, the Fed said the only one of its 12 bank districts to report slower growth was Philadelphia.

The report also adds that:

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The Two-Way
11:24 am
Wed June 6, 2012

Delta CEO Pushes For National Airline Policy That Lets 'Free Market Work'

A traveler walks by a Delta Airlines skycap kiosk at San Francisco International Airport.
Justin Sullivan Getty Images

Originally published on Wed June 6, 2012 5:29 pm

"Airlines are expecting a banner year," NPR's Yuki Noguchi is due to report on All Things Considered later today.

More planes are flying with full passenger loads, as any frequent flier will tell you. Mergers have helped cut costs. Ticket prices are up. Airlines are charging fees for bags. Fuel costs have eased a bit.

In these relatively good times, what does an airline CEO want?

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The Two-Way
8:21 am
Wed June 6, 2012

Nearly 6.5 Million LinkedIn Passwords Reportedly Stolen

LinkedIn

Originally published on Wed June 6, 2012 1:55 pm

"Our team is currently looking into reports of stolen passwords," the business networking website LinkedIn confirms, after word of a Russian hacker's claim to have stolen nearly 6.5 million users' passwords.

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The Two-Way
7:50 am
Wed June 6, 2012

Drop In Productivity Paints 'Mixed Picture'

The Associated Press takes a traditional view of the news that American workers' productivity fell more than first thought in the first quarter.

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The Two-Way
6:39 am
Wed June 6, 2012

'Little Worry' At Federal Reserve About Another Recession, 'WSJ' Says

Job seekers lined up at a jobs fair in Portland, Ore., earlier this year.
Rick Bowmer AP

Midway through a Wall Street Journal story today about whether the Federal Reserve will do something in coming weeks to give the economy a boost is this eye-catching line:

"There is little worry at the Fed of a new recession."

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Business
2:29 am
Wed June 6, 2012

States End Extended Benefits Despite Dismal Economic Outlook

Originally published on Thu June 14, 2012 10:07 am

Transcript

DAVID GREENE, HOST:

So far this year, 25 states have ended the Extended Benefits program. That program made sure people out of work for long periods of time continued receiving financial assistance. But there was a catch: if a state's unemployment rate improved, the money would stop flowing. The fact that some states are seeing lower unemployment may seem like a good sign for the economy. It's no comfort to the people who are still out of work.

Susie An from WBEZ in Chicago has that story.

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Business
2:29 am
Wed June 6, 2012

The Last Word In Business

Originally published on Thu June 14, 2012 10:07 am

Transcript

RENEE MONTAGNE, HOST:

And our last word in business this morning is: litigious days.

(SOUNDBITE OF "HAPPY DAYS" THEME SONG)

MONTAGNE: That, of course, is the theme from "Happy Days," the hit sitcom from the 1970s and '80s. These days, not everyone is so happy. Several cast members from the show are battling with CBS and Paramount, for unpaid royalties.

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Business
2:29 am
Wed June 6, 2012

Spain's Industrial Output Falls In April

Originally published on Thu June 14, 2012 10:07 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with yet another setback for Spain.

(SOUNDBITE OF MUSIC)

Business
2:29 am
Wed June 6, 2012

Auto Industry Bailout Remains Political Hot Button Issue

Originally published on Thu June 14, 2012 10:07 am

Transcript

RENEE MONTAGNE, HOST:

And the U.S. bailout of General Motors and the auto industry in 2009 has worked its way into the presidential campaign. Republican Mitt Romney says he'd sell the government stock in GM quickly if he wins the White House. A White House spokesman counters that Romney isn't credible on the issue, since he opposed the bailout that rescued the industry.

NPR's Sonari Glinton has the story.

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