Originally published on Thu November 15, 2012 5:07 am
Republicans claim President Obama's plan to raise taxes on the wealthy will cost the economy 700,000 jobs. Another study from the Congressional Budget Office puts the number of lost jobs as 200,000. But both studies also assume millions of new jobs will be created.
House Republicans have released portions of a report on the collapse of MF Global, the commodities firm run by former New Jersey Governor Jon Corzine. The report chastises Corzine for taking excessive risk.
Originally published on Thu November 15, 2012 5:01 am
President Obama travels to New York Thursday to get a first hand look at the continuing recovery efforts and lingering damage from Hurricane Sandy. Damage and lost economic activity from the storm have been estimated as high as $50 billion. State officials and lawmakers from the affected region say they intend to tap the federal government for as much assistance as possible.
This week marks the start of Mark Thompson's tenure as the new chief executive officer at the New York Times Co. It is facing financial head-winds, and is hoping Thompson can recapture some of the success he enjoyed in leading the BBC. But there's concern within the Times that its new leader has been tainted by scandals at his old employer.
After President Obama's news conference today, he moved on to a meeting with the CEOs of a number of big corporations to talk about avoiding the fiscal cliff. We're going to talk now with one business leader who has advised the White House in the past, although he was not at today's meeting. Gary Loveman is the CEO of Caesars Entertainment, the worldwide casino company. He's been a member of President Obama's export council, and he's also part of the Fix the Debt campaign. Welcome to the program.
Millions of U.S. families have a recent foreclosure on their record. Typically, that means waiting at least seven years before securing another home loan. But some families say they are having luck buying again — sometimes in as few as three years.
The word nonprofit evokes the image of a charity or a church, an educational institution, public radio station. But David Evans of Bloomberg Markets Magazine took a closer look at the world of nonprofits and discovered something that he considered suspicious. Even though many nonprofits make millions and millions in profits, they pay no taxes.
Dramatic. Feel the heart beat. That's music from "Halo 4," the latest installment from Microsoft's blockbuster video game series which pits humans against aliens in the future. Last week, "Halo 4" made more than $220 million in the first day sales.
Michael Hervey will leave effective at the end of the year. The New York utility received harsh criticism over how it handled the aftermath of Hurricane Sandy. Customers have complained about long waits for service to return. Two weeks after the storm tens of thousands of homes and businesses still have no power.
The health care industry is one of the most reliable sources of new jobs in the country. And in cities that suffer from high unemployment, the local hospital is often the biggest employer still standing. But the downturn in the economy has left some hospitals in perilous financial shape. In Waterbury, Ct,, the biggest hospitals are going through a painful process of outsourcing and layoffs.
At the White House, President Obama will hold his first East Room news conference since March on Wednesday. He's expected to talk about the nation's fiscal condition, as well as the scandal that has cost him his CIA director.
Let's talk now about the shakeup at the top of Microsoft. Fewer than three weeks after the unveiling of a new, extensively redesigned Windows operating system, the executive responsible for its launch is gone. NPR's Wendy Kaufman has more.
Energy Of The Future? California company Sierra Energy is testing out a reactor that turns garbage — like these wood chips, metal fragments and plastics — into synthetic gas that can then be turned into a low-carbon diesel fuel.
Credit Christopher Joyce / NPR
Sierra Energy is testing a reactor that makes fuel in a warehouse at an old Air Force base near Sacramento, Calif.
In less than a month, two instrumental figures at two of the world's biggest tech companies have left their positions. Now industry watchers wonder whether the departures at Microsoft and Apple will mean dramatic changes of direction for the tech giants.
Many people keep cremated remains in an urn on the mantle or scatter their loved one's ashes over a sacred place.
Now, a company has pioneered a new twist: putting cremated remains into ammunition.
For $850, Holy Smoke will take cremated remains and put them into various types of shotgun shells and bullets for rifle and pistol shooters. The Stockton, Ala., company was started a year ago by two state game wardens.
Originally published on Tue November 13, 2012 11:29 am
Anyone who follows the adventures of the alternative minimum tax has to be getting sick of the many sequels. Again and again, this unpopular income tax threatens to hit middle-class families with large and unexpected tax increases.
And each time the threat reappears, Congress applies a "patch" to fix the problem temporarily. That makes the threat an annual event — along with the associated congressional hand-wringing and taxpayer confusion.
If the government goes over the "fiscal cliff," millions of households could see tax increases because of an obscure part of the tax code, known as the alternative minimum tax. Host Michel Martin talks with NPR Business Editor Marilyn Geewax about exactly what could happen and who would be affected.
There are nearly 400 art galleries in New York's Chelsea neighborhood. Many of these galleries were flooded by the storm surge that accompanied Hurricane Sandy. One insurance company estimates it has $40 million in claims.
Toothbutter: noun. Butter spread so thickly as to reveal teeth marks upon biting.
The fact that this word exists in the Danish language should help to explain what politicians were up against when they introduced the "fat tax" just over a year ago. This is a country that loves it some butter (and meat, and all things dreadful to the arteries).
Hurricane Sandy left a long trail of destruction across the New Jersey shoreline. And it did a lot more than just flood houses.
In towns like Seaside Heights and Belmar, Sandy wiped out the boardwalks that line the beach. In places like these, boardwalks served as the commercial center knitting the towns together, and residents are wondering where to go from here.
Until two weeks ago, the boardwalk was the place to hang out in Belmar, N.J. Ann Summer was walking along the water with her husband this weekend.
Originally published on Tue November 13, 2012 5:08 am
In the wake of last Tuesday's elections, a lively debate has erupted into the open over whether conservatives and the Republican Party were well-served by their favorite media outlets.
Former Gov. Mitt Romney was reported to have been so certain of a victory on Tuesday night that he cast aside tradition and did not draft a concession speech. But conservatives now say his misplaced confidence — and theirs — were bolstered by the predictions of many like-minded pundits, which were broadcast and posted online around the clock by sympathetic news outlets.
Many veterans aren't just looking for a job; they're looking for a career, a calling and, of course, financial stability. Those recently separated from the military have to confront what is still a fairly weak civilian job market.
Titan, the new supercomputer at the Oak Ridge National Laboratory in Tennessee, has been crowned the fastest in the world. It can clock 17.59 petaflops (quadrillions of calculations per second). Audie Cornish talks to Steve Henn for more.
Originally published on Mon November 12, 2012 5:11 am
Beginning next summer, federal rules will require pilots to have six times more flight time to get hired, and will then also require airlines to give pilots more rest between flights. This will increase the number of pilots airlines need, just as thousands of senior pilots reach the mandatory retirement age of 65.