Business

The Two-Way
10:47 am
Tue May 21, 2013

JPMorgan Shareholders Vote To Keep Dimon As Chairman, CEO

JPMorgan Chase CEO Jamie Dimon during testimony on Capitol Hill.
Mark Wilson Getty Images

JPMorgan Chase shareholders voted on Tuesday to allow Jamie Dimon to continue being their chairman and CEO.

The AP reports:

"At the bank's annual meeting, 32 percent of shareholders voted for a measure that would have required the bank to split the roles. Had the measure succeeded, Dimon would have had to relinquish the role of chairman.

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Business
3:52 am
Tue May 21, 2013

Business News

Originally published on Tue May 21, 2013 9:13 am

Transcript

DAVID GREENE, HOST:

We'll NPR's business news with Boeing still dreaming.

(SOUNDBITE OF THEME MUSIC)

GREENE: Boeing's Dreamliner took off yesterday - it was a United Airlines flight from Houston to Chicago. This was the first time the fuel-friendly jet was back in U.S. skies in nearly five months. The 787 planes had been grounded since January because of battery problems, which cost United roughly $11 million in revenue.

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Business
3:52 am
Tue May 21, 2013

Tumblr Users Urge New Owner Yahoo To Keep The Site Weird

Originally published on Tue May 21, 2013 9:13 am

Transcript

DAVID GREENE, HOST:

Yahoo's purchase of the blogging site Tumblr sent shockwaves through the Tumblrverse. Is that actually a word now?

WNYC's Ilya Marritz reports that the site's users want to keep Tumblr out of the mainstream.

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Business
3:52 am
Tue May 21, 2013

The Last Word In Business

Originally published on Tue May 21, 2013 9:13 am

Transcript

STEVE INSKEEP, HOST:

Tumblrese.

DAVID GREENE, HOST:

And today's last word in business is: almost millionaires.

INSKEEP: Warren Buffett took time yesterday to listen to kids pitching potential new enterprises. These are kids who competed through Buffett's Secret Millionaires Club, a Web and cable series featuring a cartoon.

(SOUNDBITE OF WEB CARTOON, "SECRET MILLIONAIRES CLUB")

(SOUNDBITE OF MUSIC)

WARREN BUFFETT: Hey, kids, Warren Buffett here. A successful business is always trying new things.

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Business
2:24 am
Tue May 21, 2013

CEO Cook To Defend Apple Before Senate Committee Hearing

Apple CEO Tim Cook speaks during an introduction of the iPhone 5 in San Francisco on Sept. 12. The Senate Permanent Subcommittee on Investigations says Apple is paying billions of dollars less than it should in taxes each year, taking advantage of technicalities in U.S. and Irish tax laws.
Eric Risberg AP

Originally published on Tue May 21, 2013 9:13 am

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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Business
2:14 am
Tue May 21, 2013

JPMorgan Shareholders Consider Splitting CEO, Chairman Jobs

Originally published on Tue May 21, 2013 9:13 am

Transcript

STEVE INSKEEP, HOST:

JPMorgan Chase holds its annual shareholder meeting today in Tampa, Florida, and the shareholders will vote on a key measure: a proposal to strip the CEO, Jamie Dimon, of his other title, chairman of the board. A growing number of companies have split the CEO and chairman roles.

Shareholder activists and corporate governance experts say having a balance of power at the top helps to reduce risk. The bank and its supporters disagree. NPR's Yuki Noguchi reports.

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All Tech Considered
3:28 pm
Mon May 20, 2013

With New Xbox, Microsoft Makes A Bigger Play For Living Room

An Xbox 360 video presentation at the E3 Media and Business Summit in Los Angeles in 2008. Microsoft is scheduled to introduce its newest Xbox on Tuesday.
Ric Francis AP

Originally published on Mon May 20, 2013 7:00 pm

Microsoft hasn't exactly had a great couple of years.

Its new Windows 8 operating system was held responsible for the drop in PC sales last quarter. Sales of its Windows Phones lag far behind both the iPhone and Google's Android phones.

The light in the darkness for Microsoft has been the Xbox 360, which has been the top-selling game console for over two years — beating out both the Nintendo Wii and Sony's PlayStation. On Tuesday, Microsoft is expected to announce a new version of the Xbox.

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Business
3:28 pm
Mon May 20, 2013

Boeing's Dreamliner Returns To U.S. Skies After Grounding

Originally published on Mon May 20, 2013 7:00 pm

Transcript

ROBERT SIEGEL, HOST:

Boeing's 787 jetliners are returning to the skies. Four months ago, the entire fleet was grounded following serious battery problems on two jets, but the batteries have now been redesigned. Planes have been retrofitted, and airlines are beginning to put them back into service. Today, United Airlines, the only U.S. carrier flying the 787, put two of them back into service. NPR's Wendy Kaufman reports.

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Business
3:28 pm
Mon May 20, 2013

What Makes Start-Up Tumblr Worth $1.1 Billion?

Originally published on Tue May 21, 2013 6:54 am

Transcript

MELISSA BLOCK, HOST:

From NPR News, it's ALL THINGS CONSIDERED. I'm Melissa Block.

ROBERT SIEGEL, HOST:

I'm Robert Siegel. Some big numbers are being thrown around in Silicon Valley today. This morning, Yahoo CEO Marissa Mayer announced that Yahoo is buying Tumblr, a social media and blogging startup. The price, $1.1 billion and that for a site which last year earned a tiny fraction of that amount in revenue.

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All Tech Considered
2:29 pm
Mon May 20, 2013

Yahoo's Other Billion Dollar Bets: Where Are They Now?

GeoCities employees pose for a picture in 1999 after the Yahoo acquisition was announced. Yahoo quietly shut down GeoCities a decade later.
Mark J. Terrill AP

Originally published on Mon May 20, 2013 3:57 pm

Yahoo's $1.1 billion purchase of Tumblr could be considered a bargain compared with its other big-dollar bets. The company's history is dotted with pricey purchases of once-hot Web properties that had more promise than eventual purpose. A look back:

GeoCities, 1999: $3.7 Billion

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The Salt
1:27 pm
Mon May 20, 2013

Washington State Butcher Spikes Pig Feed With Weed

William von Schneidau, who owns the BB Ranch butcher shop at Pike Place Market in Seattle, has made prosciutto from pigs fed marijuana.
Courtesy of BB Ranch

Originally published on Wed May 22, 2013 8:25 am

William von Schneidau, an intrepid butcher in Seattle, is giving a whole new meaning to "potbelly pig." Lately, he's been feeding marijuana refuse to the pigs he turns into prosciutto for BB Ranch, his butcher shop in the city's famous Pike Place Marke

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Planet Money
9:28 am
Mon May 20, 2013

Ask A Banker: Capital, Capital!

Paul Goyette Flickr

Originally published on Tue May 21, 2013 11:09 am

Hi, it's Ask a Banker! You should send us questions on email or Twitter, but this particular question, though timely, was made up by me, sorry:

Q. Should banks be required to hold much more capital as a safety net? Or should they be putting that money to productive use by lending it out instead?

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The Two-Way
6:50 am
Mon May 20, 2013

Pledging Not To 'Screw It Up,' Yahoo Seals Deal For Tumblr

They're coming together: Yahoo will pay $1.1 billion to acquire Tumblr.
Fred Dufour AFP/Getty Images

Originally published on Mon May 20, 2013 7:06 am

The news that broke Sunday is now official.

Yahoo confirmed early Monday morning that it is buying Tumblr in a deal worth about $1.1 billion. "Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo added.

In its statement announcing the deal, Yahoo says that:

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Business
2:56 am
Mon May 20, 2013

Yahoo To Buy Tumblr In An Attempt To Revitalize Itself

Originally published on Mon May 20, 2013 3:06 am

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news starts with a big blogging buyout.

Today, Yahoo announced its purchase of the blogging site Tumblr. The $1.1 billion deal was unanimously approved by Yahoo's board. Analysts say the acquisition is Yahoo's attempt to revitalize itself.

NPR's Kirk Siegler has more.

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Energy
2:56 am
Mon May 20, 2013

Calif. Law To Require Ships To Cut Pollution

Originally published on Mon May 20, 2013 3:28 am

Transcript

DAVID GREENE, HOST:

Two ports, the Ports of Los Angeles and Long Beach, handle almost half of all of the consumer goods being shipped into the United States. Together, these two ports are also the single largest polluter in Southern California, a region famous for its smog.

NPR's Kirk Siegler reports on a new California law that will soon require some of the largest diesel-guzzling ships to kill their engines and plug in to shore power at the docks.

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Business
2:56 am
Mon May 20, 2013

The Last Word In Business

Originally published on Mon May 20, 2013 4:41 am

Alongside a freeway in Northern California is a billboard which reads: Pivot to Canada. The billboard is urging high-tech immigrants living in the U.S. to pay attention to Canada. Canada wants to attract highly-skilled, foreign-born tech workers who are fed up with the visa process that they must follow to remain in the U.S.

Around the Nation
1:07 am
Mon May 20, 2013

Advocates Struggle To Reach Growing Ranks Of Suburban Poor

TD Bank volunteers sort donated food into barrels at the Manna Food Center in Gaithersburg in Montgomery County, Md. Poverty in the county just outside Washington, D.C., has grown by two-thirds since 2007.
Gabriella Demczuk NPR

Originally published on Mon May 20, 2013 12:30 pm

Poverty has grown everywhere in the U.S. in recent years, but mostly in the suburbs. During the 2000s, it grew twice as fast in suburban areas as in cities, with more than 16 million poor people now living in the nation's suburbs — more than in urban or rural areas.

Elizabeth Kneebone, a fellow with the Metropolitan Policy Program at the Brookings Institution, says this shift in poverty can be seen in Montgomery County, Md., right outside the nation's capital.

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Around the Nation
1:01 am
Mon May 20, 2013

Seeing The (Northern) Light: A Temporary Arctic Retirement

The Botnen-Chen family moved from Boston to live for a year on Rødøy, a Norwegian island north of the Arctic Circle.
Courtesy of Winston Chen

Originally published on Sat May 25, 2013 9:10 pm

By all the laws of anything, Winston Chen should not have quit his well-paying, midcareer job at a software company at age 40. But one day he was watching a TED Talk, one of those popular online video presentations, delivered by a New York designer.

"He presented this absolutely irresistible idea," Chen says. "He said, 'Why don't we take five years out of retirement and spread them throughout your working life?' "

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The Two-Way
11:34 am
Sun May 19, 2013

WSJ: Yahoo! Board Approves $1.1 Billion Purchase Of Tumblr

Yahoo President and CEO Marissa Mayer.
Brad Barket Getty Images

Originally published on Sun May 19, 2013 1:39 pm

The Wall Street Journal has this breaking news from the tech world:

"The Yahoo board has approved a deal to pay $1.1 billion in cash for the blogging site Tumblr."

The Journal, the only outlet reporting the approval, is sourcing its story to "people familiar with the matter." Lauren Armstrong, a Yahoo spokeswoman, told us in an email that they "don't comment on rumors or speculation."

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Business
3:41 am
Sun May 19, 2013

The Durability Of Levis, Woven Into America's Fabric

Originally published on Sun May 19, 2013 12:11 pm

Transcript

RACHEL MARTIN, HOST:

One hundred and forty years ago this month, a German immigrant named Levi Strauss patented the first pair of jeans ever made. During the California gold rush, Strauss traveled across the country to set up a West Coast branch of his family's dry goods business. That business changed forever when Strauss got a letter from a tailor named Jacob Davis.

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Business
10:51 pm
Sat May 18, 2013

Tesla Rides High, But Faces Formidable Foe: Car Dealers

The Tesla Model S, Motor Trend Car of the Year, is introduced at the 2013 North American International Auto Show, in Detroit in January. Tesla's attempts to sell its cars without going through dealerships is meeting resistance.
Stan Honda AFP/Getty Images

Tesla Motors, the American maker of luxury electric cars, has been riding a wave of good publicity.

Its Model S sedan (base priced at $62,400, after federal tax credits) was just named Motor Trend Car of the Year. Reviewers at Consumer Reports gave the lithium-ion battery powered vehicle a rave.

And the company, headed by billionaire innovator Elon Musk, 41, posted a profit for the first time in its 10-year history — powered in part by zero-emission environmental credits.

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Business
2:41 pm
Sat May 18, 2013

Internships: Low-Paid, Unpaid Or Just Plain Illegal?

Students fill out applications during a job fair at the University of Illinois Springfield in February. Fed up with working for free, some interns are suing their employers.
Seth Perlman AP

Originally published on Sat May 18, 2013 5:47 pm

Summer is almost here, and with it comes the army of interns marching into countless American workplaces. Yet what was once an opportunity for the inexperienced is becoming a front-line labor issue.

More and more, unpaid and low-paid interns are feeling their labor is being exploited. Some are even willing to push back — with lawsuits.

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Parallels
3:13 am
Sat May 18, 2013

Afghan Mineral Treasures Stay Buried, Hostages To Uncertainty

An Afghan worker helps excavate part of the mountaintop copper works above the ancient city at Mes Aynak in February. Afghanistan is believed to be sitting on massive mineral and metal deposits. But many obstacles have prevented large-scale mining from getting underway.
Matthew C. Rains MCT/Landov

Originally published on Sat May 18, 2013 5:23 am

For years, reports have suggested that Afghanistan is sitting on massive deposits of copper, gold, iron and rare earth minerals valued up to $3 trillion. This provides hope for a future economy that would not have to rely so heavily on foreign donations.

But with an uncertain political, regulatory and security environment, international investors are hesitant. And it could be many years before Afghanistan begins extracting its mineral wealth.

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The Salt
10:53 am
Fri May 17, 2013

Flax Seed: The Next Superfood For Cows And Beef?

NBO3 launched its enriched ground beef at the Tops grocery chain in New York in March.
Courtesy of NBO3

Originally published on Fri May 17, 2013 11:41 am

Flax is the oily seed usually spotted in the nutritional supplement or cereal aisles. It's marketed as a superfood because of its high levels of omega-3 fatty acids and fiber.

Omega-3s may do all kinds of good things for humans — like protect against Alzheimer's, heart disease and even cancer — so it seems reasonable to think they could also protect the health of animals.

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Around the Nation
9:31 am
Fri May 17, 2013

Millennials Choosing Buses And Bikes Over Buicks

Originally published on Fri May 17, 2013 10:51 am

Transcript

CELESTE HEADLEE, HOST:

From teens with drive, we turn now to young people who have no interest in driving. This is National Bike to Work Day, and a substantial number of millennials choose bikes or public transportation or their feet to get around instead of cars. That's according to the U.S. Public Interest Research Group, or PIRG, which concluded that the 20th century driving boom is over.

Paul Eisenstein has written about this trend. He's the editor of TheDetroitBureau.com, and he joins me now. Welcome.

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Business
9:31 am
Fri May 17, 2013

How Best To Encourage Black 'Teenpreneurs'

Originally published on Fri May 17, 2013 10:51 am

Transcript

CELESTE HEADLEE, HOST:

This is TELL ME MORE, from NPR News. Michel Martin is away. I'm Celeste Headlee. Coming up, it's National Bike to Work Day, but many millennials prefer two wheels to four. Why more 20-somethings are driving less. That's just ahead.

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TED Radio Hour
7:59 am
Fri May 17, 2013

Giving It Away

"If you have something to give, give it now." – Mark Bezos
TED

Originally published on Mon December 16, 2013 3:23 pm

You can give away almost anything — your time, money, food, your ideas. In this hour, stories from TED speakers who are "giving it away" in new and surprising ways, and the things that happen in return.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

TED Radio Hour
7:55 am
Fri May 17, 2013

Do We Have The Wrong Idea About Charity?

Dan Pallotta at the TED conference in 2013.
James Duncan Davidson TED

Originally published on Mon December 16, 2013 3:30 pm

Part 3 of the TED Radio Hour episode Giving It Away.

About Dan Pallotta's TEDTalk

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The Two-Way
6:57 am
Fri May 17, 2013

Book News: Amazon May Be Called Before Parliament Over Taxes

Amazon's U.K. unit racked up sales of $6.5 billion last year, but only paid $3.7 million in corporate taxes.
David McNew Getty Images

Originally published on Fri May 17, 2013 7:39 am

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

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Business
3:25 am
Fri May 17, 2013

Obama Names OMB Controller As Acting IRS Commissioner

On Thursday, President Obama named Daniel Werfel, 42, acting IRS commissioner. The announcement comes a day after the resignation of Steven Miller, who got caught up in the controversy over the IRS targeting Tea Party groups.

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