Business

The Two-Way
6:32 am
Mon March 25, 2013

Cypriots Are Suspicious, But Bailout Deal Seems Set

A Cypriot man held some coins in Nicosia on Sunday. He and others on the island nation were watching anxiously as world leaders put together a bailout package for Cypriot banks.
Katia Christodoulou EPA /LANDOV

Originally published on Mon March 25, 2013 4:01 pm

  • From 'Morning Edition': Soraya Sarhaddi Nelson reports

The deal we posted about Sunday evening — a $13 billion bailout by international creditors for the beleaguered banking system on Cyprus — is being met with skepticism on that Mediterranean island nation.

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Europe
3:07 am
Mon March 25, 2013

Cypriots Quetion E.U.'s Motives Behind Bailout

Originally published on Mon March 25, 2013 10:50 am

Cyprus has secured a $13 billion package of rescue loans in tense, last-ditch negotiations. Some in Cyprus question whether the European Union wanted Cyprus' recently discovered natural gas reserves or big bank deposits to go to German banks.

Europe
2:56 am
Mon March 25, 2013

European Parliaments Next To Approve Cyprus Deal

Originally published on Mon March 25, 2013 6:34 am

Transcript

RENEE MONTAGNE, HOST:

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

DAVID GREENE, HOST:

And I'm David Greene.

The tiny Mediterranean island of Cyprus was on the brink of bankruptcy. But at the last minute, European finance ministers approved a multibillion-dollar bailout for the country. The deal will keep the island's banking system from collapsing, but the country is far from out of the woods.

NPR's Soraya Sarhaddi Nelson begins our coverage from Berlin.

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Business
2:42 am
Mon March 25, 2013

Matzo Granola: From Family's Shelf To Store Shelves

Originally published on Mon March 25, 2013 6:34 am

Transcript

RENEE MONTAGNE, HOST:

Well, Passover begins tonight at sundown. Observant Jews will commemorate the mass exodus from Egypt and for the next eight days eat matzo, the dry flat cracker known as much for its bland taste as its symbolism. It's also fueled the entrepreneurial spirit of an Atlanta couple.

Susan Mittleman sampled their business venture, a venture that mixes matzo with granola.

SUSAN MITTLEMAN, BYLINE: Wayne Silverman has made maple-nut matzo granola in his kitchen for more than 40 years.

(SOUNDBITE OF MATZO BEING BROKEN)

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Business
2:42 am
Mon March 25, 2013

The Last Word In Business

Originally published on Mon March 25, 2013 6:34 am

Transcript

DAVID GREENE, HOST:

And our last word in business today is: highly illogical, captain.

Congress has rebuked the IRS for spending tens of thousands of dollars to film a "Star Trek" parody video.

(SOUNDBITE OF IRS VIDEO)

UNIDENTIFIED MAN: These are the voyagers of the Starship Enterprise Y. Its never-ending mission is to seek out new tax forms, to explore strange new regulations, to boldly go where no government employee has gone before.

RENEE MONTAGNE, HOST:

The video stars IRS workers and was shown at a conference in 2010.

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Business
2:42 am
Mon March 25, 2013

Business News

Originally published on Tue March 26, 2013 9:18 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with Apple doing some shopping.

Apple has been trying to go head-to-head with Google to provide better mapping services. Apple's latest effort to do that has a price tag of $20 million. That's how much it paid for a small startup company called WiFiSLAM, which maps indoor settings. Think shopping malls and airports. Apple confirmed the purchase to The Wall Street Journal, but wouldn't discuss its plans. Transcript provided by NPR, Copyright NPR.

Economy
2:42 am
Mon March 25, 2013

Examining Dual Trends In The Economy

Originally published on Mon March 25, 2013 6:34 am

Both housing and the stock market have been on the upswing in recent months. But a full recovery in the housing market would be more significant to the overall economy. That's because more Americans have something at stake in home values than in stock prices.

Around the Nation
2:42 am
Mon March 25, 2013

N.J. Beach Houses Sell Well Despite Sandy

Originally published on Mon March 25, 2013 9:13 am

Despite the enormous destruction Hurricane Sandy caused to the Jersey Shore, realtors who specialize in the region say business has been steady. Plenty of home buyers and investors appear eager to jump into the market. Damaged homes and lots have been selling for discounted rates, while prices are inching up on houses that survived since there are simply fewer properties available.

Business
2:42 am
Mon March 25, 2013

More Suitors Offer To Take Over Dell

Originally published on Mon March 25, 2013 6:34 am

The board of the computer company Dell is said to be weighing several takeover offers. The company's founder has allied with the private equity firm Silver Lake to take the company private.

Business
3:01 pm
Sun March 24, 2013

Goldman Sachs Hopes To Profit By Helping Troubled Teens

About half the juvenile offenders released from prison on Rikers Island in New York return within a year, New York City Department of Corrections Commissioner Dora Schriro says.
Bebeto Matthews AP

Originally published on Sun March 24, 2013 5:07 pm

In the New York City prison system, the outlook for juvenile offenders is bleak. They're falling through the cracks, being arrested repeatedly, and being re-released onto the same streets only to be picked up again.

The criminal justice system is failing these 16- and 17-year-olds, says Dora Schriro, the commissioners of the city's Department of Corrections.

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Sports
12:24 pm
Sat March 23, 2013

March Madness: Good For Fans, Bad For Business

Pittsburgh fans try to distract Wichita State's Ron Baker as he shoots a free throw during a second-round game in the NCAA college basketball tournament in Salt Lake City on Thursday. The distractions of the tournament are so great that worker productivity suffers.
George Frey AP

Originally published on Sat March 23, 2013 4:34 pm

March Madness is here. Even President Obama has filled out a NCAA Division I men's college basketball tournament bracket. His pick to win it all was Indiana University.

The bracket frenzy is unbelievable, says Deborah Stroman, who teaches sports administration at the University of North Carolina.

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Business
2:56 pm
Fri March 22, 2013

Former QB Drew Bledsoe Becomes Unlikely Lobbyist For Interstate Wine Sales

Originally published on Thu March 28, 2013 5:17 pm

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. Former NFL quarterback Drew Bledsoe has been a lot of places since his glory days with the New England Patriots. He went on to play for Buffalo and Dallas and in his retirement, he returned to his hometown of Walla Walla, Washington, where he founded a winery. Bledsoe has not forgotten his New England fans. In fact, he wants people in Massachusetts to be able to buy his wine and, for that matter, other wines online.

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The Two-Way
11:10 am
Fri March 22, 2013

HBO: Programming Could Be Sold Directly Through Internet Providers

HBO chief Richard Plepler speaks in New York at a 2011 screening.
Larry Busacca Getty Images for Time Warner

Originally published on Fri March 22, 2013 12:21 pm

HBO CEO Richard Plepler is saying something a lot of the television network's fans have been waiting to hear — that its content could be offered to customers directly through their Internet service providers instead of a cable company.

Right now, HBO must be purchased through a cable provider. Plepler tells Reuters that HBO Go, an online streaming service launched by the network in 2010 (but still only available as an extra to your cable TV) might also be sold through ISPs.

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The Two-Way
8:28 am
Fri March 22, 2013

FCC Chairman Julius Genachowski Says He Will Step Down

Federal Communications Commission Chairman Julius Genachowski testifies before a Senate committee in March of 2013.
T.J. Kirkpatrick Getty Images

Originally published on Fri March 22, 2013 12:24 pm

The chairman of the Federal Communication Commission announced during a staff meeting on Friday that he intends to step down "in the coming weeks."

Julius Genachowski's resignation comes just a day after Commissioner Robert McDowell announced his plans to step down.

The New York Times reports the Obama administration has not settled on a replacement for Genachowski. It reports:

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The Two-Way
6:19 am
Fri March 22, 2013

Cyprus Gets Cold Shoulder From Russia On Bailout Aid

An employee of Cyprus Laiki (Popular) Bank reacts as he takes part in a protest outside Parliament on Friday in the capital, Nicosia.
Patrick Baz AFP/Getty Images

Originally published on Fri March 22, 2013 11:47 am

As a deadline on Cyprus to come up with a financial bailout plan nears, a possible rescue from Russia looks to have fallen apart, leaving the island nation few options for staving off default.

Russian Finance Minister Anton Siluanov said as far as Moscow was concerned "the talks have ended," but Prime Minister Dmitry Medvedev left the door open, saying aid from Moscow would be contingent on Cyprus gaining European Union backing for its other money-raising ideas.

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Business
2:49 am
Fri March 22, 2013

Census Bureau: Americans Burdened By High Debt

Originally published on Fri March 22, 2013 8:55 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with high debt and low wealth.

(SOUNDBITE OF MUSIC)

INSKEEP: Since the financial crisis, many Americans have been saving money and paying down debt. Many are in better financial shape than a few years ago. But when you look at the longer term, it is clear that Americans as a whole have not regained all the ground they lost.

The Census Bureau compared Americans in 2011 with their wealth and debt burdens in that seemingly long-ago year, 2000.

NPR's John Ydstie reports.

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Business
2:38 am
Fri March 22, 2013

The Last Word In Business

Originally published on Fri March 22, 2013 8:55 am

Transcript

STEVE INSKEEP, HOST:

What better place to play video games than in a man cave? That's our last word in business today. It's how real estate website Zillow describes a Cold War-era bomb shelter in South Florida, now on sale for just under half a million dollars - 30-inch thick, steel-reinforced, concrete walls; decontamination showers; and 17-foot high ceilings.

There's even some milk solids and canned sugar left over, and it allegedly could be turned into a home. The listing agent describes the property as something out of an old Japanese Godzilla movie.

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Economy
2:38 am
Fri March 22, 2013

Examining The Banking Crisis In Cyrpus

Originally published on Fri March 22, 2013 8:55 am

The tiny Mediterranean island-nation of Cyprus is teetering on the edge of insolvency after rejecting a tax on bank deposits imposed by the E.U. and IMF in exchange for a bailout. Cyprus has until Monday to approve a new bailout plan.

Education
2:38 am
Fri March 22, 2013

Chicago Teachers, Parents Riled By Plan To Close 54 Public Schools

Chicago Teachers Union President Karen Lewis speaks outside Mahalia Jackson Elementary School in Chicago about the planned closing of 54 public schools. Opponents say the plan will disproportionately affect minority students in the nation's third-largest school district.
M. Spencer Green AP

Originally published on Fri March 22, 2013 10:43 pm

In Chicago, officials have released a long-feared list that places more than 50 schools on the chopping block. The public school district faces a $1 billion shortfall, and the mayor says many of the city's school buildings are half empty. Some angry parents and teachers say the plan will harm children and they'll fight to keep the schools open.

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Movies
1:01 am
Fri March 22, 2013

Not Doing So 'Boffo,' 'Daily Variety' Drops Print Edition

Print versions of Daily Variety, like this one from 2003, will no longer be available on L.A. newsstands. Variety will continue online and in a print weekly, but the daily print edition is being dropped.
Kevin Winter Getty Images

Originally published on Fri March 22, 2013 8:55 am

For eight decades, Daily Variety has been a Hollywood must-read for everyone from studio heads to actors looking for a big break. But the days of assistants running out to grab the "trades" are over: This week, the Los Angeles institution published its last daily edition.

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Business
1:00 am
Fri March 22, 2013

Google's Eric Schmidt Heads To Another Isolated Asian Nation

Eric Schmidt, Google's executive chairman and former CEO, stands near a statue of the late North Korean leader Kim Il Sung in Pyongyang in January. He's headed now to Myanmar, another largely untapped market.
David Guttenfelder AP

Originally published on Fri March 22, 2013 8:55 am

Google's executive chairman, Eric Schmidt, who went to North Korea in January, is making a short visit Friday to Myanmar, also known as Burma.

Why is the senior executive of a U.S. technology powerhouse visiting some of the poorest and least wired countries in Asia?

Schmidt will be the first top U.S. executive to travel to the Southeast Asian nation since it began emerging from decades of international isolation under a military dictatorship.

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All Tech Considered
1:00 am
Fri March 22, 2013

After Conquering Consoles, Hard-Core Gaming Shifts To Mobile

Gears of War: Judgment hit stores on Tuesday.
Courtesy Microsoft Studios

Originally published on Fri March 22, 2013 8:55 am

This generation of video game consoles will be remembered for over-the-top, knock-you-out-of-your-seat extravaganza games like Halo, Call of Duty — and Gears of War, a juggernaut of a game. The first three Gears of War sold 19 million units, making it a $1 billion franchise. And the latest, Gears of War: Judgment, has just hit stores at a crucial time in the video game industry — sales are down, new Xbox and PlayStation consoles are due out, and mobile gaming is growing.

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The Salt
4:28 pm
Thu March 21, 2013

Did Congress Just Give GMOs A Free Pass In The Courts?

Farmers harvest a sugar beet crop in Gilcrest, Colo.
Matthew Staver Landov

Originally published on Tue March 26, 2013 12:58 pm

Tucked inside a short-term funding measure that Congress approved Thursday is a provision that critics are denouncing as a "Monsanto Protection Act."

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Around the Nation
2:27 pm
Thu March 21, 2013

Florida Pitches New Facilities To Clinch Spring Training

Baseball fans watch an exhibition spring training game between the Washington Nationals and the New York Mets in Port St. Lucie, Fla. Spring training contributes $35 million to the local economy.
Julio Cortez AP

Originally published on Thu March 21, 2013 4:00 pm

For baseball fans, spring training is a time for renewed hopes and a reminder that winter is almost over. But for the major league teams and Arizona and Florida communities, spring training is big business. In Florida, 1.5 million fans attend spring training games with an estimated $750 million annual economic impact, and the state is working to keep the teams from fleeing.

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Crisis In The Housing Market
10:29 am
Thu March 21, 2013

You Be The Judge: Is The Housing Market Really Improving?

A home for sale in Glenview, Ill. Existing-home sales hit the highest level in more than 3 years in February. But not everyone is convinced that the housing sector's momentum has staying power.
Nam Y. Huh AP

This week, optimists had no trouble finding fresh evidence to suggest that the housing market is recovering.

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The Two-Way
9:36 am
Thu March 21, 2013

Europe's Central Bank Issues Cyprus Ultimatum

People line up at an ATM in Nicosia to withdraw cash on Thursday.
Patrick Baz AFP/Getty Images

Originally published on Thu March 21, 2013 12:42 pm

The clock is ticking on Cyprus' fiscal cliff.

The European Central Bank has given the Mediterranean country just four days to come up with its own bailout plan, or a eurozone lifeline to its struggling banks will be severed.

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The Two-Way
8:16 am
Thu March 21, 2013

Applications For Unemployment Benefits Tick Up; Monthly Average At 5-Year Low

There were 336,000 first-time claims for unemployment benefits last week, up 2,000 from the week before, the Employment and Training Administration reports.

The big news here is that the 4-week moving average was 339,750, a drop from of 7,5000 from last week and the lowest level in 5 years.

Bloomberg reports:

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The Two-Way
5:32 am
Thu March 21, 2013

Book News: Is Amazon Building A CIA Cloud?

Amazon CEO Jeff Bezos unveils new Kindle reading devices at a press conference in 2012.
David McNew Getty Images

Originally published on Thu March 21, 2013 11:44 am

The daily lowdown on books, publishing, and the occasional author behaving badly.

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Business
3:30 am
Thu March 21, 2013

In China, Treasury's Lew Discusses Cybersecurity, Yuan

Originally published on Thu March 21, 2013 7:23 am

Steve Inskeep talks to Richard McGregor of the Financial Times about Treasury Secretary Jack Lew's trip to China. He bought a long list of economic agenda items to his meetings with top officials, ranging from cyberwarfare to China's currency controls.

Business
3:10 am
Thu March 21, 2013

Shareholders Re-Elect Hewlett-Packard Board Members

Originally published on Thu March 21, 2013 7:23 am

HP will celebrate its 75th birthday next year. The company was once a technology giant. But with old products, a lack of vision and a revolving door at the top, the company has been having trouble.

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