Business

Business
2:49 am
Mon November 5, 2012

Post Election: Traditional TV Ads To Return To Airwaves

Originally published on Mon November 5, 2012 8:07 am

Transcript

STEVE INSKEEP, HOST:

NPR business news begins with television the day after tomorrow.

All those political ads on TV and radio, billions of dollars worth, are about to come to an end. Which, if you're a TV station, raises the question of what will take their place?

NPR's Wendy Kaufman reports.

WENDY KAUFMAN, BYLINE: This year, Political spending will reach an all-time high. The Center for Responsive Politics puts the figure at about six billion dollars. More than half of that has gone into TV ads for president and everything else.

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Business
2:49 am
Mon November 5, 2012

2 Bakers Struggle To Get Out From Superstorm Sandy

Originally published on Tue November 6, 2012 8:41 am

Transcript

STEVE INSKEEP, HOST:

Estimates of the economic cost of the storm damage caused by Hurricane Sandy along the East Coast, are as high as $50 billion. A lot of that is physical damage. Just under half of those losses, though, are from things people didn't, or couldn't, do during the storm; like eat in restaurants, go to the theater, or just work. Reporter Tracey Samuelson brings us this look at the blows Sandy has dealt a pair of small-business owners in New York City.

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Business
4:35 am
Sun November 4, 2012

Open For Business In Atlantic City, Despite Storm

Originally published on Sun November 4, 2012 10:08 am

Transcript

RACHEL MARTIN, HOST:

In August last year, as Hurricane Irene threatened the East Coast, New Jersey's governor issued an evacuation order for Atlantic City. And WEEKEND EDITION was introduced to one restaurant owner who wasn't having any of it.

JOHN EXADAKTILOS: Choppy seas, little wind, little hazy. This is a bull (bleep) storm. Nothing's going to happen.

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Superstorm Sandy: Before, During And Beyond
10:15 pm
Sat November 3, 2012

Insurance Companies Rethink Business After Sandy

This aerial photo shows destruction in the wake of Superstorm Sandy on Wednesday in Seaside Heights, N.J.
Mike Groll AP

Originally published on Sun November 4, 2012 2:56 pm

Superstorm Sandy capped what's been a pretty impressive couple of years for U.S. natural disasters. There have been wildfires, tornadoes, floods and derechos. And insurance companies are on the hook to pay billions in related claims.

"We're seeing more of everything, and what we're doing is trying to factor that in going forward as we work with others to have a better sense of what the future holds," says State Farm spokesman David Beigie.

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Economy
3:15 am
Sat November 3, 2012

Divergent Labor Markets: Private Gains, Public Losses

Job applicants meet potential employers at the NYC Startup Job Fair in September. Last month, the private sector created jobs while the public sector resumed laying off workers.
John Moore Getty Images

Originally published on Sat November 3, 2012 11:00 am

The last unemployment report before the election came out Friday, and the news was middling: Unemployment ticked up to 7.9 percent.

The private sector created more than 180,000 new jobs, but state and local governments resumed laying workers off. That discrepancy is part of a longer-term trend.

For a few years now, private sector employment has been growing, but since mid-2010, state and local governments have eliminated roughly half a million jobs.

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Your Money
2:48 pm
Fri November 2, 2012

Storm Leaves Many Facing Tricky Insurance Process

A tree service worker prepares to remove a giant oak tree limb that fell onto the roof of Charles Edamala's home in Elkins Park, Pa., during Superstorm Sandy.
Emma Jacobs for NPR

Originally published on Fri November 2, 2012 3:34 pm

Mario Veas spent Monday night hunkered down with his family. But he has been running ever since.

Veas runs a tree service in Willow Grove, Pa. He says his phone has been ringing nonstop because people want trees felled by the storm chopped up and cleared.

"Everybody [is] calling and they want [the job] to be done this morning," Veas says.

Earlier this week, Veas was clearing an enormous tree branch from Preethy Edamala's patio in nearby Elkins Park.

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Economy
1:40 pm
Fri November 2, 2012

Sandy, Election Could Skew Future Jobs Reports

Workers clean up debris left by Superstorm Sandy in Long Beach Island, N.J., on Wednesday. The storm may lead to layoffs as business losses mount, but also could result in hiring related to rebuilding.
Mark Wilson Getty Images

Originally published on Fri November 2, 2012 5:20 pm

Each month, the Labor Department issues an employment report. On Friday, that report showed job creation rose in October — and it revealed something more.

With its latest unemployment assessment, the government in effect took a BEFORE snapshot of the U.S. economy. It collected all of the data before Superstorm Sandy slammed into the East Coast and before the election outcome could be known. Each of those two events has the potential to change the AFTER outlook.

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The Salt
12:29 pm
Fri November 2, 2012

Christmas Comes Early For Denmark's Beer Drinkers

J-Day, the first Friday in November, marks the release of Denmark's Christmas beer, Tuborg's Julebryg. It's practically a national holiday as the beer is promoted tonight in bars throughout the country.
Tuborg

Originally published on Fri November 2, 2012 1:40 pm

In the U.S., Thanksgiving marks the unofficial start of the race to Christmas (unless you happen to decorate department stores, then it starts in October). But in Denmark, the Christmas race starts tonight.

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Economy
9:58 am
Fri November 2, 2012

What's The Priority: Unemployment Or Deficit?

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE, from NPR News. I'm Michel Martin. Later in the program, Superstorm Sandy might've turned out the lights along the East Coast, but Twitter was ablaze with comments. We want to talk about the good, the bad and the ugly that Sandy brought out on social media. We'll have that conversation in a few minutes.

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The Two-Way
5:04 am
Fri November 2, 2012

Job Growth Beats Forecasts; Unemployment Rate Is 7.9 Percent

How many signs like this were there in October? We got a clue today.
Justin Sullivan Getty Images

Originally published on Fri November 2, 2012 9:37 am

The nation's unemployment rate edged up to 7.9 percent in October from 7.8 percent in September, the Bureau of Labor Statistics says.

But private and public employers added 171,000 jobs to their payrolls — nearly 50,000 more than economists had expected.

So the news is somewhat mixed: While the jobless rate remained stuck near 8 percent, job growth was better than forecast.

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Business
3:04 am
Fri November 2, 2012

Labor Department To Release Jobs Report

Originally published on Fri November 2, 2012 9:43 am

Transcript

RENEE MONTAGNE, HOST:

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

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. It's a busy Friday morning before the election. Around 8:30 Eastern Time the government releases the final monthly snapshot of the job market before the election.

MONTAGNE: Last month the unemployment rate dropped to 7.8 percent, the lowest in years. This month analysts expect the number may tic up again, though a separate survey may show another net gain in total people employed.

Business
3:04 am
Fri November 2, 2012

Chrysler Hit Sales Milestone In October

Originally published on Fri November 2, 2012 9:43 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with Chrysler sales.

(SOUNDBITE OF MUSIC)

MONTAGNE: Chrysler is again in the news. Today it's not for political reasons, but because the Detroit automaker is selling cars, a lot of them. Chrysler had it best October sales in five years. And Automotive magazine has named Chrysler's CEO its man of the year.

STEVE INSKEEP, HOST:

NPR's Sonari Glinton reports.

SONARI GLINTON, BYLINE: When auto industry people talk about Chrysler's CEO Sergio Marchionne, they tend to gush.

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The Salt
3:04 am
Fri November 2, 2012

After Sandy, It's Pizza And Homemade Meatballs For The Lucky In New Jersey

While this pizzeria in Belmar, N.J., remained closed after Hurricane Sandy, Geno D's in Toms River turned out 500 pies to grateful customers on Wednesday.
Michael Loccisano Getty Images

Originally published on Fri November 2, 2012 9:43 am

The produce aisle may not yet be restocked at the Stop & Shop in Toms River, N.J., and other perishables may still be hard to come by. But rest assured, the local pizza joint is hopping.

"We've been busy, very busy," says Marissa Henderson, granddaughter of the proprietor of Geno D's pizzeria in Toms River. It was one of the few restaurants open in the area in the wake of the hurricane that rolled through earlier this week.

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U.S.
3:35 pm
Thu November 1, 2012

Manhattan Businesses Struggle Until Power Returns

Paul Nicaj, who owns Battery Gardens Restaurant on the southern tip of Manhattan, says Superstorm Sandy will cost him a few hundred thousand dollars, including income from two weddings that may have to be cancelled this weekend.
Ailsa Chang NPR

Originally published on Fri November 2, 2012 11:01 am

Lower Manhattan continues to slog through another day without electricity, and it's taking a toll on businesses that have been shuttered since the storm hit. No electricity means no lights, no credit card machines, no heating and no refrigerators to keep food fresh, so local shops and restaurants are waiting desperately for the power to turn back on.

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The Salt
1:09 pm
Thu November 1, 2012

Sandy's Damage Under The Sea, Through The Eyes Of Oyster Farmers

What they pull up is discouraging. Normally, 30 seconds under water would bring up a cage full of mostly healthy oysters. This time, Jimmy Bloom pulls up a cage that is barely one-third full. And it's haul is a mix of broken, chipped, meatless oysters.
Jeff Cohen for NPR

Connecticut Gov. Dannel Malloy wrapped up a post Hurricane Sandy news briefing earlier this week by talking about sewage discharges into Long Island Sound. "Suffice to say in the immediate time being, no one should eat the clams or oysters," he said.

That's right. Because of water quality issues, the state put a temporary stop to oyster farming, but that's usually a short-term thing and it happens fairly regularly after a big storm.

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The Two-Way
8:39 am
Thu November 1, 2012

Consumer Confidence Hits Highest Point In Nearly Five Years

"Black Friday" 2011 in Manhattan. Will consumers come out in force this holiday season? Their confidence was high in October.
Michael Nagle Getty Images

By at least one measure, in October consumers were the most confident they've been since February 2008, the private Conference Board reports.

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The Two-Way
6:52 am
Thu November 1, 2012

Some Mixed Signals From Latest Jobs Numbers

Job seekers were on line at a career fair in Manhattan back in August.
John Moore Getty Images

Originally published on Thu November 1, 2012 7:02 am

Three closely watched employment indicators are out this morning:

-- Unemployment Benefits. There were 363,000 first-time claims for jobless benefits last week, down from 372,000 the week before, the Employment and Training Administration says. So, as they have all year, claims remain in a range between 350,000 and 400,000.

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Business
3:10 am
Thu November 1, 2012

GM Quarterly Earnings Exceed Expectations

Originally published on Thu November 1, 2012 4:41 am

Even facing economic headwinds in Europe and South America, GM's quarterly earnings came in well above analysts' estimates, and its stock soared.

Business
3:06 am
Thu November 1, 2012

Help Wanted In Switzerland: Hunting Tax Cheats

Originally published on Thu November 1, 2012 4:41 am

Transcript

RENEE MONTAGNE, HOST:

And while we're on the subject of tax evasion, our last word in business today is: Help wanted.

Switzerland is looking for more staff to handle a flood of new requests from other countries that are looking for tax cheats.

STEVE INSKEEP, HOST:

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Business
3:06 am
Thu November 1, 2012

The Complicated Economic Impact Of Sandy

Originally published on Thu November 1, 2012 4:41 am

Transcript

STEVE INSKEEP, HOST:

Sandy is likely to go down as one of the costliest storms in U.S. history. The initial estimates of the losses are anywhere from $20 billion to $50 billion. But as NPR's Jim Zarroli reports, the impact on the economy is more complicated than it may appear. Some companies will even make money.

JIM ZARROLI, BYLINE: Economist Greg Daco has been tallying the potential costs of Hurricane Sandy and he says there's no question it's going to hurt the economy more than it will help it.

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Business
3:06 am
Thu November 1, 2012

Business News

Originally published on Thu November 1, 2012 4:41 am

Japanese TV maker Sharp on Thursday doubled its expected net loss for the year to more than $5 billion. The company also raised concerns about its ability to survive on its own. The news comes a day after another Japanese tech giant, Panasonic, forecast a nearly $10 billion loss for the year.

Planet Money
3:06 am
Thu November 1, 2012

The Robots Haven't Taken Over The Stock Market (Yet)

Sandbags protect an entrance of the New York Stock Exchange, Monday, Oct. 29, 2012.
Richard Drew AP

Originally published on Fri November 2, 2012 11:04 am

Note: This story was originally published on Oct. 30. It was updated on Nov. 1 to include a radio version of the story.

The stock market, according to a popular narrative, is now just computers making superfast trades with other computers. Those pictures of traders getting emotional on the floor of the New York Stock Exchange are an anachronism. The real action flashes through fiber-optic cables headed for servers in places like Kansas City. It's algorithms all the way down.

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The Two-Way
5:58 pm
Wed October 31, 2012

Coal Mine Inspection Sweep Targets Cause Of Black Lung

Originally published on Thu November 1, 2012 3:59 am

Federal regulators have announced the results of a September inspection blitz targeting 13 coal mines in seven states "previously cited for violations regarding respirable dust sampling ... inadequate dust control ... and hazard complaints" involving excessive coal dust.

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Movies
3:53 pm
Wed October 31, 2012

Lucasfilm Deal Represents Shift In Hollywood

Originally published on Wed October 31, 2012 4:53 pm

Transcript

AUDIE CORNISH, HOST:

A surprise announcement yesterday from the Walt Disney Company. The studio that gave us "Cinderella"...

(SOUNDBITE OF ANIMATED MOVIE, "CINDERELLA")

CINDERELLA: Oh, my goodness. It's midnight.

CORNISH: Ariel...

([SOUNDBITE OF ANIMATED MOVIE, "THE LITTLE MERMAID"])

ARIEL: (Singing) You want thingamabobs? I got 20.

CORNISH: And "Snow White"...

([SOUNDBITE OF ANIMATED MOVIE, "SNOW WHITE"])

SNOW WHITE: I'm sure I'll get along somehow.

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It's All Politics
1:46 pm
Wed October 31, 2012

Auto Legend Iacocca Backs Romney In Ohio Car Wars

Mitt Romney campaigns Monday in Avon Lake, Ohio.
Tony Dejak AP

Originally published on Wed October 31, 2012 3:06 pm

As the presidential race zeroes in on Ohio, and the auto industry gets renewed focus in the all-important swing state, Mitt Romney's campaign is touting the backing of former Chrysler CEO Lee Iacocca and the company's former president, Hal Sperlich.

"In our opinion, Mitt Romney is the leader we need to help turn our economy around and ensure that the American auto industry is once again a dominant force in the world," Iacocca and Sperlich write on Romney's website.

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Planet Money
7:10 am
Wed October 31, 2012

America's Most Expensive Storms

A firefighter surveys the smoldering ruins of a house in the Breezy Point section of New York.
Mark Lennihan AP

While we're on the subject of devastating storms, consider a report published last year by the National Hurricane Center. The title alone makes it worth a look:

THE DEADLIEST, COSTLIEST, AND MOST INTENSE UNITED STATES TROPICAL CYCLONES FROM 1851 TO 2010 (AND OTHER FREQUENTLY REQUESTED HURRICANE FACTS)

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Business
3:21 am
Wed October 31, 2012

Halloween Spending On The Rise

Originally published on Wed October 31, 2012 6:52 am

Transcript

STEVE INSKEEP, HOST:

Now let's report on a different kind of horror. Tonight, of course, is Halloween, and Americans are expected to spend somewhere in the neighborhood of $8 billion on decorations candy, costumes and other stuff.

From Seattle, NPR's Wendy Kaufman reports on the business behind this ghoulish night.

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Business
3:21 am
Wed October 31, 2012

Walt Disney Co. To Buy Lucasfilm

Originally published on Wed October 31, 2012 2:43 pm

Transcript

STEVE INSKEEP, HOST:

Oh my gosh. You create the social equivalent of nuclear fusion when you combine the people who are obsessed with Star Wars and the people obsessed with Disney. The Walt Disney Company is apparently willing to take that risk. In a move that surprised industry observers, Disney announced, yesterday, it is buying Lucasfilm, the studio founded by George Lucas and home to the Star Wars franchise. NPR's Mandalit del Barco reports there are already plans for a new "Star Wars" movie.

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Business
3:21 am
Wed October 31, 2012

New York Markets Set To Reopen After Sandy

Originally published on Wed October 31, 2012 6:52 am

The New York Stock Exchange and NASDAQ are both set to reopen Tuesday. The markets were closed Monday and Tuesday as Hurricane Sandy pounded the East Coast, flooding New York's financial district.

Business
3:21 am
Wed October 31, 2012

Businesses Try To Get By During Hockey Lockout

Originally published on Wed October 31, 2012 6:52 am

The National Hockey League has now canceled all games through the end of November, as team owners lock out players in a labor dispute. In the meantime, there are many businesses and workers who count on hockey games to help make ends meet. But they are now trying to make due without.

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