Business

Planet Money
1:07 am
Fri March 29, 2013

The Trick To Selling Fancy Wine From New Jersey: Don't Say It's From New Jersey

A sign outside Lou Caracciolo's winery, Amalthea Cellars
Courtesy Amalthea Cellars

Originally published on Fri March 29, 2013 9:14 am

Halfway between the New Jersey Turnpike and the Atlantic City casinos is a little slice of France: Amalthea Cellars. There's an old farmhouse, and a field full of grapevines.

Lou Caracciolo, who founded Amalthea, is walking through the field. "Here's something I put in the ground in 1976," he says. "You have to have a feel for it, and after 30 years I have a pretty good feel for it."

Caracciolo calls himself a hopeless romantic. And, really, you have to be a romantic to try to make a $33 bottle of cabernet sauvignon blend in New Jersey.

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Economy
1:07 am
Fri March 29, 2013

Cyprus' Crisis Frames Eurozone As 'Work In Progress'

Banks in Cyprus reopened to customers for the first time in nearly two weeks Thursday, albeit with strict restrictions.
Petros Giannakouris AP

Originally published on Fri March 29, 2013 9:14 am

On the second day since Cyprus reopened its banks, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.

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Shots - Health News
1:06 am
Fri March 29, 2013

Obamacare Won't Affect Most 2012 Taxes, Despite Firm's Claim

Taxes this year will be as much of a drag as ever. But not because of the Affordable Care Act.
iStockphoto.com

Originally published on Fri March 29, 2013 8:22 pm

If you haven't done your taxes yet, this ad from H&R Block might make you feel even more anxious.

"The Affordable Care Act means big changes this year when you file your taxes," says the young woman in the ad, with a smug smile. She then claims to have read "all 900 pages" of the law so she can offer you a "solution."

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Around the Nation
3:33 pm
Thu March 28, 2013

In Phoenix, A New Quest For Diverse Public Pool Lifeguards

Originally published on Thu March 28, 2013 4:57 pm

After noticing that most of the lifeguards at the public pools used by Latino and African-American kids were white, the Phoenix aquatics department decided to try to recruit minorities.

More than 90 percent of the students at Alhambra High are black, Latino or Asian. On a recruiting effort there over the winter, the city's Melissa Boyle tells students she's not looking for strong swimmers. Like many under-resourced schools, Alhambra doesn't have a swim team.

"We will work with you in your swimming abilities," Boyle says.

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Business
3:33 pm
Thu March 28, 2013

Farm Bill's Sugar Subsidy More Taxing Than Sweet, Critics Say

While many people enjoy sweet treats — like these chocolate bunnies — the price of a key ingredient has some people bitter. A government subsidy program is criticized for keeping sugar prices too high. But as prices fall, the government may buy sugar to help processors.
Toby Talbot AP

Originally published on Thu March 28, 2013 9:55 pm

While you indulge in some Easter Peeps and chocolates this weekend, you might want to think about all that sugar. No, this isn't a calorie warning. In the U.S., raw sugar can cost twice the world average.

Critics say U.S. sugar policy artificially inflates sugar prices to benefit an exclusive group of processors — even though it leads to higher food prices. But this year, prices fell anyway. Now, the government could be poised to use taxpayer dollars to buy up the excess sugar.

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The Two-Way
2:23 pm
Thu March 28, 2013

1,569: S&P 500 Closes At All Time High, Rising Above Oct. 2007 Mark

A trader on floor of the New York Stock Exchange on March 25, 2013. U
Richard Drew AP

Originally published on Thu March 28, 2013 2:31 pm

The Standard & Poor's 500 stock index broke new ground today, closing at 1,569, an all-time high that erased the record set on Oct. 9, 2007.

The S&P joins the Dow Jones Industrial Average, which broke its 2007 record earlier this month.

Both indices have now recovered all the losses they suffered during the Great Recession.

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The Two-Way
12:28 pm
Thu March 28, 2013

Chocolatiers Lindt Loses Final Appeal To Trademark Golden Easter Bunnies

Chocolate Easter bunnies by Swiss company Lindt, left, and Austrain company Hauswirth, which agreed to stop making chocolate Easter bunnies that look like those made by Lindt & Spruengli in 2012.
Heinz-Peter Bader Reuters /Landov

Originally published on Thu March 28, 2013 1:02 pm

After 12 years, a federal court in Germany has settled an epic Easter battle: It ruled Lindt & Spruengli, the Swiss chocolatier, could not trademark its gold-foil wrapped easter bunny chocolates.

Germany's international broadcaster Deutsche Welle reports:

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Around the Nation
10:00 am
Thu March 28, 2013

Maybe We Should Retire The Word 'Retire'

The official portrait of retirement has changed, and it didn't change to this.
iStockphoto.com

Retirement ads are everywhere these days. The Villages lures retirees to come live, love and golf in Florida. USAA offers financial counsel to retiring military personnel.

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The Two-Way
6:54 am
Thu March 28, 2013

Slow But Better Than Thought: 4th Quarter GDP Revised Up Again

Originally published on Thu March 28, 2013 8:22 am

The U.S. economy grew at a 0.4 percent annual rate in fourth-quarter 2012, the Bureau of Economic Analysis reported Thursday morning.

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Business
5:16 am
Thu March 28, 2013

Cheap Natural Gas Pumping New Life Into U.S. Factories

A worker hooks up pipe during natural gas drilling by EnerVest on the Barnett Shale near Fort Worth, Texas, in 2012.
Ron Jenkins MCT /Landov

Originally published on Tue April 23, 2013 3:13 pm

The millions of Americans who lost factory jobs over the past decade may find this hard to believe, but U.S. manufacturing is coming back to life.

The chest compressions are applied by the pumping of cheap, domestic natural gas.

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The Two-Way
5:04 am
Thu March 28, 2013

Banks In Cyprus Reopen As Island's Economy Hits Reboot

At a Laiki Bank branch in Nicosia, Cyprus, early Thursday, customers lined up to be among the first allowed in.
Yannis Behrakis Reuters /Landov

Originally published on Thu March 28, 2013 6:54 am

  • From 'Morning Edition': What makes for a good tax haven?
  • From 'Morning Edition': Joanna Kakissis reports

Banks in Cyprus reopened Thursday morning — after two weeks in which they had to keep their doors closed as European leaders worked out a bailout deal for the island's struggling financial sector in a bid to keep its problems from triggering similar crises in other ailing EU nations.

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Business
3:51 am
Thu March 28, 2013

Researchers Expect Oil Demand To Plateau By Decade's End

Originally published on Thu March 28, 2013 7:18 am

Transcript

LINDA WERTHEIMER, HOST:

NPR's business news starts with an appetite for oil.

(SOUNDBITE OF MUSIC)

WERTHEIMER: Researchers say they see a plateau in the demand for oil. A new report says demand could level off by the end of this decade, and that's a lot sooner than expected, as NPR's Sonari Glinton reports.

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Business
3:51 am
Thu March 28, 2013

What Makes A Good Tax Haven?

Originally published on Thu March 28, 2013 7:18 am

Transcript

DAVID GREENE, HOST:

OK, so banks in Cyprus are opening today, but there's no doubt that some people who have funds stashed in the country are going to be hunting around for a new place to put their money. We wondered what types of things make a place a popular tax haven.

So we called up Professor James Hines at the University of Michigan Law School. He specializes in tax havens.

Professor, good morning.

JAMES HINES: Good morning.

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Business
3:51 am
Thu March 28, 2013

The Last Word In Business

Originally published on Thu March 28, 2013 7:18 am

Transcript

LINDA WERTHEIMER, HOST:

At the New York Auto Show this week, Honda is cleaning up. The carmaker has wowed people with its new Odyssey minivan because of the built-in vacuum cleaner.

DAVID GREENE, HOST:

Yeah, the carmaker says it worked with Shop-Vac to design its HondaVAC, which it tells is the first ever in-car vacuum cleaner. It is tucked inside the driver's side rear cargo space, and it comes with all sorts of attachments.

WERTHEIMER: And so our last word in business today is: Why did it take a car company so long to do this?

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Europe
3:51 am
Thu March 28, 2013

After 2-Week Closure, Cypriot Banks Reopen

Originally published on Thu March 28, 2013 7:18 am

Transcript

DAVID GREENE, HOST:

It's MORNING EDITION from NPR News. I'm David Greene.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer.

In Cyprus today, banks reopened after being closed for nearly two weeks. Customers could see the limits on cash withdrawals last for months, as leaders of the island-nation try to prevent a bank-run. Lots of people there are nervous about an EU bailout agreed to this week. The terms of that deal are a shocking outcome for a country which built its wealth on its banking industry.

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Economy
3:51 am
Thu March 28, 2013

IMF: Gas Prices Don't Reflect True Costs

Originally published on Thu March 28, 2013 7:18 am

Transcript

DAVID GREENE, HOST:

It's MORNING EDITION from NPR News. Good morning, I'm David Greene.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer.

When you're filling up a car with gas, chances are you are not looking at the price per gallon and thinking how low it is. And maybe thinking that the government ought to do something about that and raise prices. But the economic wizards at the International Monetary Fund are recommending exactly that, not just for the U.S. but for the entire world.

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Business
3:51 am
Thu March 28, 2013

Manufacturing Redux Benefits Texas Gulf Coast

Originally published on Thu March 28, 2013 7:18 am

Transcript

DAVID GREENE, HOST:

And let's stay on the topic of energy. Millions of Americans have lost factory jobs over the past decade, but U.S. manufacturing is coming back to life, in large measure because of abundant supplies or cheap natural gas. From member station KUHF in Houston, Andrew Schneider reports on how the Texas Gulf Coast is booming as companies build new plants.

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Planet Money
1:41 am
Thu March 28, 2013

When A Famous Hospital Didn't Want An Expensive New Drug

Andrei Tchernov iStockphoto.com

Originally published on Thu March 28, 2013 8:03 am

Last year, a new drug called Zaltrap was approved as a kind of last-chance therapy for patients with colorectal cancer. Studies suggested Zaltrap worked almost exactly as well as an existing drug called Avastin. In fact, the main difference between the two drugs seemed to be the price.

"I was rather stunned," Dr. Leonard Saltz, who specializes in colorectal cancer, told me.

Zaltrap costs about $11,000 per month — about twice as much as Avastin, Saltz said.

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Planet Money
1:14 pm
Wed March 27, 2013

What If You Couldn't Take Your Money To Another State?

What if this wasn't worth $1?
ceoln Flickr

Originally published on Thu March 28, 2013 7:48 am

One day, the legislature in the state where you live passes a new law: Until further notice, you're not allowed to take your money to another state.

There are exceptions. You can take a few thousand dollars with you if you go on a trip. You can do some out-of-state shopping on your credit card, but not too much. Beyond that, all your money — your checking account, your savings account, the cash you buried in your backyard — has to stay in your state. You're free to leave the state, as long as you don't take your money with you.

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Business
2:40 am
Wed March 27, 2013

Business News

Originally published on Wed March 27, 2013 4:59 am

Genetically-modified seeds — and the technology to produce them — have been at the center of a bitter legal fight between the two companies. Dupont will pay Monsanto more than $1.5 billion in the deal. With that, the companies will drop their patent and antitrust claims against each other.

Business
2:40 am
Wed March 27, 2013

The Last Word In Business

Originally published on Wed March 27, 2013 5:06 am

The specialty food store in Brisbane says the fee will be returned at the cash register, after a purchase has been made.

Buried In Grain
2:40 am
Wed March 27, 2013

Enforcement Of Penalties Weak In Grain Bin Deaths

Originally published on Wed March 27, 2013 8:17 am

Nearly 500 farmers and workers have suffocated in grain storage bins in the past 40 years. The worst year on record was 2010, with 26 people dying. Hefty fines and criminal charges are possible for negligent employers. But NPR and The Center for Public Integrity found that enforcement is weak, even as workers continue to die.

Business
2:40 am
Wed March 27, 2013

T-Mobile: Adds iPhone Ditches 2-Year Contracts

Originally published on Wed March 27, 2013 4:05 am

Transcript

RENEE MONTAGNE, HOST:

Mobile phone carrier T-Mobile is trying to lift itself out of fourth place. At a press conference yesterday, it announced it was adding the iPhone to its line up and ditching two-year contracts.

But NPR's Laura Sydell reports that may not be enough.

LAURA SYDELL, BYLINE: T-Mobile took a lot of digs at the two-year contracts all mobile carriers offer at its Manhattan press conference. It opened with real woman on the street video.

(SOUNDBITE OF AD)

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Business
2:40 am
Wed March 27, 2013

Analyzing T-Mobile's Change In Price Strategy

Originally published on Wed March 27, 2013 4:38 am

Transcript

DAVID GREENE, HOST:

And to talk more about T-Mobile's new pricing strategy, we reached Rich Jaroslovsky. He's technology commentator for Bloomberg News and a regular guest on our program. And Rich sounds busy there in the Bloomberg newsroom in San Francisco. How are you?

RICH JAROSLOVSKY: I'm fine.

GREENE: Let's talk about what we're hearing from T-Mobile. I mean, how radical a change is this for a U.S. carrier?

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Around the Nation
2:40 am
Wed March 27, 2013

Landlocked Midwest Farmers Raise Saltwater Shrimp

Originally published on Wed March 27, 2013 4:03 am

Transcript

RENEE MONTAGNE, HOST:

Think about farms in the Midwest, acres and acres of corn and soybeans. Now, picture instead fresh saltwater shrimp - shrimp. Landlocked Midwestern farmers are finding ways to raise those shellfish far away from any ocean.

From member station WGLT, Daniel Hajek reports.

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All Tech Considered
1:35 am
Wed March 27, 2013

Solar-Powered Plane Uses Its Lightness To Fly In The Dark

The Solar Impulse, a solar-powered plane, flies over Switzerland. The makers will be journeying across the U.S. this spring, hoping the flight helps challenge assumptions about what solar technology can do.
Courtesy of Solar Impulse

Originally published on Wed March 27, 2013 5:54 am

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Media
1:34 am
Wed March 27, 2013

Looking For 'Oxygen,' Small Papers Erect Digital Pay Walls

In Long Beach, Wash., Chinook Observer editor and publisher Matt Winters has overseen his paper's transition to the Internet and, more recently, to a pay wall.
Ashley Gross for NPR

Originally published on Wed March 27, 2013 6:38 am

The Washington Post and the San Francisco Chronicle recently said they will start charging readers for online content, joining big papers like The New York Times and The Wall Street Journal. Some large papers have made it work because they offer a lot of unique content.

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Financial Basics For Baby Boomers
1:33 am
Wed March 27, 2013

Planning For Retirement When Savings Fall Short

For most Americans, the math for a comfortable retirement may never add up.
iStockphoto.com

Originally published on Wed March 27, 2013 6:04 am

For most Americans, the math for a comfortable retirement may never add up.

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All Tech Considered
5:17 pm
Tue March 26, 2013

After Yahoo Acquires Summly, Is Buying Math The Next Tech Bubble?

Nick d'Aloisio displays his mobile application Summly, which Yahoo recently purchased for a reported $30 million. But the Internet company is killing the app and integrating the algorithm that drives it into its own technology.
Matt Dunham AP

The news of Yahoo's purchase of Summly, the news-summarizing app created by 17-year-old British wunderkind Nick D'Aloisio, rippled through the news world on Tuesday.

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Technology
2:56 pm
Tue March 26, 2013

Yahoo Buys News App From British Teenager For A Reported $30 Million

Originally published on Wed March 27, 2013 3:58 pm

Transcript

AUDIE CORNISH, HOST:

A British teenager has sold his mobile application to Yahoo for a reported $30 million. Seventeen-year-old Nick D'Aloisio created his app called Summly when he was only 15. As NPR's Jeff Brady reports, the teen will now go to work for Yahoo.

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