Business

Business
2:59 am
Fri October 19, 2012

Investors' Funds Are Recovering, But Not Their Nerves

Originally published on Fri October 19, 2012 8:14 am

Chicken Little was running wild 25 years ago today. But one could hardly blame the poultry for panicking.

On Oct. 19, 1987, the stock market plunged a record-setting 23 percent. The next day, the New York Daily News' front page screamed "Panic!" and a New York Times headline asked: "Does 1987 equal 1929?"

Turns out, the 1987 plunge was a mere stutter step. The Dow Jones industrial average, which closed at 1,739 that day, quickly bounced back. Within a decade, the stock-price average had nearly quintupled.

Read more
Planet Money
12:53 am
Fri October 19, 2012

The Candidate Is Fake; The Consultants Are Real

One consultant's vision for our political ad: "I see a horse."
iStockphoto.com

Originally published on Wed October 24, 2012 10:31 am

When our series began yesterday, we brought together five economists from across the political spectrum and had them create a platform for their dream presidential candidate. It's a platform — Get rid of a tax deduction for homeowners!

Read more
Around the Nation
3:23 pm
Thu October 18, 2012

To Shrink Rents, S.F. Considers Shrinking Apartments

The development firm Panoramic Interests is building about two dozen "micro-apartments" in San Francisco. The company is poised to offer even smaller units if the city approves a proposed new minimum size of 220 square feet.
Artist's Rendering of Smartspace Unit Courtesy of Panoramic Interests

Originally published on Thu October 18, 2012 6:32 pm

In many large cities, like Dallas, Phoenix and even parts of Chicago, $800 a month is enough for a clean one-bedroom apartment, decked out with a living room, washer and dryer — and maybe even a pool, in a larger complex.

But if you want to live alone in San Francisco, getting those amenities at that price is practically a pipe dream. With the region's resurgent high-tech industries luring many well-educated, well-paid workers to the Bay Area, the average rent for a studio apartment in the city now runs around $2,000.

Read more
Media
2:59 pm
Thu October 18, 2012

After 80 Years In Print, 'Newsweek' To Go All Digital

Tina Brown, editor-in-chief of Newsweek, announced Thursday that the 80-year-old newsmagazine will publish its final print edition on Dec. 31 and shift to an all-digital format in early 2013.
John Moore Getty Images

Originally published on Thu October 18, 2012 6:00 pm

Newsweek editor Tina Brown announced Thursday she would embrace a fully digital future as she revealed that the magazine's final print edition would be published at the end of the year.

Her announcement was a bow to gravity, as her unique blend of buzz and brio proved incapable of counteracting Newsweek's plummeting circulation and advertising amid an accelerating news cycle. Brown said there would be an unspecified number of layoffs as well.

Read more
Business
2:40 pm
Thu October 18, 2012

Premature Press Release Makes Google Shares Plunge

Originally published on Thu October 18, 2012 6:00 pm

Transcript

MELISSA BLOCK, HOST:

Google's high-flying stock hit some turbulence today. Its shares were down as much as 10 percent before trading was temporarily halted. The drop came after the company's quarterly earnings report was released prematurely, a report that showed Google struggling in the third quarter. NPR's Steve Henn reports.

Read more
The Salt
12:22 pm
Thu October 18, 2012

Evaporated Cane Juice: Sugar In Disguise?

If you look very closely, you'll see "evaporated cane juice" in the ingredients list on this yogurt. A California woman is suing the Chobani yogurt company over its use of the term.
Karen Castillo Farfán NPR

Originally published on Thu October 18, 2012 5:08 pm

If you're one of those people who vigilantly checks the ingredient list of the things you buy at the grocery store, you may have already seen this: Some food products now contain something called "evaporated cane juice." It can be found in yogurt, fruit juices and lemonades.

So what exactly is evaporated cane juice? Well, it depends on whom you ask. We spoke with a few folks outside our local grocery store, and many of them were confused. Take a listen:

Read more
The Two-Way
11:56 am
Thu October 18, 2012

Google's Stock Drops After Premature Release; 'PendingLarry' Goes Viral

Google CEO Larry Page. What's he going to say now?
Emmanuel Dunand AFP/Getty Images

Originally published on Thu October 18, 2012 1:05 pm

Oops.

Read more
Economy
9:06 am
Thu October 18, 2012

'Black Friday' Haunts Market, 25 Years On

Originally published on Thu October 18, 2012 11:25 am

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE, from NPR News. I'm Michel Martin. Coming up, Courtney Roxanne Pearson was just crowned homecoming queen at her university last weekend. We hope you'll stick around to hear why she feels this is about more than a tiara and a title.

But first, tomorrow is the 25th anniversary of what is known in financial circles as Black Monday. And if you were watching the news at the time, then you probably heard a report that sounded something like this.

(SOUNDBITE OF NEWS REPORT)

Read more
Election 2012
9:06 am
Thu October 18, 2012

Does Candidates' Debt Math Add Up?

Originally published on Thu October 18, 2012 11:25 am

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE, from NPR News. I'm Michel Martin. Coming up, we take a look back 25 years to the 1987 stock market crash, which some people still call Black Monday. We'll talk about how that even compares to the more recent market turmoil and if there's anything we can learn from it about market ups and downs today.

Read more
The Two-Way
6:48 am
Thu October 18, 2012

Jobless Claims Take Sharp Jump: Rose By 46,000 Last Week

The number of first-time claims for jobless benefits rose by 46,000 last week, to 388,000, the Employment and Training Administration says.

The previous week's total — 342,000 — was the fewest since early 2008. The increase last week put claims back into the range where they've been stuck for a year, between 350,000 and 400,000.

Read more
The Two-Way
6:06 am
Thu October 18, 2012

'Newsweek' Kills Its Print Edition

Say goodbye.
Karen Bleier AFP/Getty Images

Originally published on Thu October 18, 2012 6:40 am

Saying that "we have reached a tipping point at which we can most efficiently and effectively reach our readers in all-digital format," editor Tina Brown announced this morning that Newsweek's Dec. 31 issue will be its last print edition.

Going forward, she said:

"Newsweek will expand its rapidly growing tablet and online presence, as well as its successful global partnerships and events business.

Read more
Business
2:37 am
Thu October 18, 2012

The Last Word In Business

Originally published on Thu October 18, 2012 10:11 am

Transcript

RENEE MONTAGNE, HOST:

And today's last word in business reminds us how quickly Internet memes, those viral moments come and go. Our last word is: binders full of sales.

A promotional pitch from Spirit Airlines, in a reference to this line from Mitt Romney during Tuesday night's debate defending his record on hiring women.

(SOUNDBITE OF PRESIDENTIAL DEBATE)

MITT ROMNEY: I went to a number of women's groups and said can you help us find folks and they brought us whole binders full of women.

DAVID GREENE, HOST:

Read more
Television
2:37 am
Thu October 18, 2012

ABC's Kimmel To Compete Against Late-Night Kings

Originally published on Thu October 18, 2012 10:11 am

Transcript

DAVID GREENE, HOST:

Let's go now to a different type of media: late night television, where huge changes are afoot. Jimmy Kimmel is getting a better time slot. Arsenio Hall is coming back. Jay Leno took a pay cut, and Jon Stewart cleans up at 11 o'clock.

(SOUNDBITE OF TV SHOW, "THE DAILY SHOW")

JON STEWART: Yes! President Barack Obama decided to attend this debate. And the two candidates can finally have a truthful, substantive discussion about how much they (bleep) hate each other.

Read more
Business
2:37 am
Thu October 18, 2012

Lance Armstrong Parts Ways With Livestrong, Nike

Originally published on Thu October 18, 2012 10:11 am

Transcript

DAVID GREENE, HOST:

Read more
Business
2:37 am
Thu October 18, 2012

Japan's Softbank CEO Demonstrates Appetite For Risk

Originally published on Thu October 18, 2012 10:11 am

Transcript

DAVID GREENE, HOST:

Earlier this week, a Japanese company announced a $20 billion bid for a majority stake in Sprint-Nextel, America's third-largest mobile carrier. The deal was launched by the CEO of Softbank - an executive who says he has a 300-year business plan and who is fond of making investments his peers call crazy.

Lucy Craft has this profile.

LUCY CRAFT, BYLINE: In a society where conformity, conservatism and harmony are virtues, CEO Masayoshi Son breaks all the rules, says his biographer, Shinichi Sano.

Read more
Planet Money
1:32 am
Thu October 18, 2012

A Tax Plan That Economists Love (And Politicians Hate)

The mortgage is going to cost more than you thought.
Paul Sakuma AP

Originally published on Fri October 19, 2012 10:51 am

Watching a presidential campaign, it's easy to think that the nation is deeply divided over how to fix the economy. But when you talk to economists, it turns out they agree on an enormous number of issues.

So we brought together five economists from across the political spectrum and had them create their dream presidential candidate. Over the next few days, we'll have a series of stories on our economists' dream candidate. We start this morning with some changes to the tax code.

Read more
Sports
3:24 pm
Wed October 17, 2012

Nike Drops Sponsorship Of Armstrong Over Doping

Originally published on Wed October 17, 2012 5:09 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.

We begin this hour with major fallout for Lance Armstrong. Last week's scathing report from the U.S. Anti-Doping Agency linked Armstrong to a widespread doping program in cycling. Today, Armstrong stepped down as chairman of the foundation Livestrong, which he created to support those with cancer. Armstrong also lost major sponsors, including longtime supporter Nike. NPR's Tom Goldman begins our coverage.

Read more
The Two-Way
2:05 pm
Wed October 17, 2012

Man Arrested For Allegedly Trying To Bomb N.Y. Federal Reserve

A cornerstone at the Federal Reserve Bank of New York in Manhattan.
Andrew Burton Getty Images

Originally published on Wed October 17, 2012 3:50 pm

"Quazi Mohammad Rezwanul Ahsan Nafis, 21, was arrested this morning in downtown Manhattan after he allegedly attempted to detonate what he believed to be a 1,000-pound bomb at the New York Federal Reserve Bank on Liberty Street in lower Manhattan's financial district," the FBI confirms an email just sent to reporters.

It adds that:

Read more
Planet Money
9:21 am
Wed October 17, 2012

Manufacturing Jobs Aren't Coming Back, No Matter Who's President

St. Louis Fed

Originally published on Fri June 28, 2013 12:33 pm

The percentage of Americans working in manufacturing fell under President Reagan. It also fell under Presidents Bush, Clinton, Bush and Obama (respectively).

Which is to say, the decline of manufacturing jobs in the U.S. economy is not about who is president or what his policies are. It's the result of long-running, irreversible, historical factors (read: technology and globalization).

Read more
The Two-Way
8:52 am
Wed October 17, 2012

Construction Of New Homes Surges To Four-Year High

Construction worker Jim Castellano walks out of a Toll Brothers Inc. home he is working on in Boca Raton, Florida.
Joe Raedle Getty Images

The rate at which builders began work on new homes surged to a four-year high, the Commerce Department said today.

The AP reports that September clocked the fastest pace since July of 2008. The AP adds:

"The Commerce Department says builders broke ground at a seasonally adjusted annual rate of 872,000 in September. That's an increase of 15% from August.

Read more
All Tech Considered
6:31 am
Wed October 17, 2012

The Brain Of The Beast: Google Reveals The Computers Behind The Cloud

Google's data center in Council Bluffs, Iowa, houses servers in over 115,000 square feet of space.
Connie Zhou Google

Originally published on Fri October 19, 2012 8:09 am

Behind the ephemeral "cloud" of cloud computing, the network we use for everything from checking our email to streamlining our health care system, there lies a very tangible and very big computer infrastructure.

Read more
Business
2:39 am
Wed October 17, 2012

'Wired' Magazine Story

Originally published on Wed October 17, 2012 5:13 am

Google has nearly 20 data centers packed with computer servers that are huge consumers of energy. Google allowed technology writer Steven Levy of Wired magazine to see its facility in Lenoir, N.C. Levy talks to Steve Inskeep about what he saw while he was there.

Business
2:39 am
Wed October 17, 2012

Farmers Cautious Of Drought-Resistant Seeds

Originally published on Wed October 17, 2012 6:31 am

Transcript

STEVE INSKEEP, HOST:

Here in the United States, the corn harvest is nearly complete. It was earlier and much smaller than in recent years, which means stockpiles are lower and prices will likely be higher. Now, while this summer's drought is largely to blame, the dry weather did offer perfect conditions to test drought-resistant corn. As Iowa Public Radio's Amy Mayer reports, seed companies and farmers are now crunching the yield numbers to see what these new varieties could mean in coming years.

Read more
Business
2:39 am
Wed October 17, 2012

Target Begins Running Holiday TV Ads Early

Originally published on Wed October 17, 2012 6:31 am

Transcript

RENEE MONTAGNE, HOST:

And today's last word in business is: Are you ready?

(SOUNDBITE OF TARGET COMMERCIAL)

UNIDENTIFIED MAN: The holidays are coming, and they're going to be big.

MONTAGNE: Target has aired its first holiday ad of the season.

STEVE INSKEEP, HOST:

Let me just get my face out of my palm here. That's right. Forget planning your Halloween costume or picking out a turkey. Target is making its mark early - six weeks before Thanksgiving, in fact. It had a lot of people double-checking their calendar.

Read more
Business
2:39 am
Wed October 17, 2012

Bankruptcy Adds To Criticism Of Obama's Green Policies

Originally published on Wed October 17, 2012 6:31 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with echoes of Solyndra.

A Massachusetts manufacturer of electric car batteries has filed for bankruptcy. The company, A123 Systems, had received hundreds of million dollars in federal support, including a $250 million grant.

As NPR's Tovia Smith reports, its failure is reigniting criticism of President Obama's green energy policies.

Read more
Business
4:35 pm
Tue October 16, 2012

Citigroup CEO Abruptly Steps Down

Originally published on Tue October 16, 2012 5:06 pm

Citigroup CEO Vikram Pandit is stepping down. In a statement released Tuesday morning, he said the time was right for someone else to take the helm. Pandit, who is 55 years old, took the top spot at Citi in December of 2007, just as the financial crisis was beginning to unfold.

Economy
2:37 pm
Tue October 16, 2012

Home Health Aides: In Demand, Yet Paid Little

Home health aide trainees Marisol Maldonaldo (center) and Nancy Brown (right), shown here with assistant instructor Miguelina Sosa, are studying to join one of the nation's fastest growing yet also worst paid sectors of the workforce.
Jennifer Ludden NPR

Originally published on Wed October 17, 2012 1:29 pm

The home care workforce — some 2.5 million strong — is one of the nation's fastest growing yet also worst paid. Turnover is high, and with a potential labor shortage looming as the baby boomers age, there are efforts to attract more people to the job.

Read more
The Two-Way
11:36 am
Tue October 16, 2012

Citigroup CEO's Exit Leaves Wall Street Scratching Its Head

Vikram Pandit on the floor of the New York Stock Exchange on in June.
Spencer Platt Getty Images

Today's announcement that Vikram Pandit had abruptly resigned as chief executive of banking giant Citigroup has left competitors, analysts and media pundits stunned and sputtering.

"This comes as a huge surprise," William George, a Goldman Sachs board member, said in an interview on CNBC.

Read more
Money Coach
10:04 am
Tue October 16, 2012

Can College Students Handle Their Own Finances?

America's student loan debt is more than one trillion dollars, according to government agencies. Now, a former professor says high schools and colleges need to do more to help students manage their debt load. Host Michel Martin speaks with writer Laura McKenna about her online op-ed for The Atlantic.

The Salt
10:02 am
Tue October 16, 2012

Farmer Tackling Monsanto's Seed Policy Gets A Day In Supreme Court

Many folks protest Monsanto's business practices, like this Greenpeace protester spraying paint on a company research soybean field in Iowa.
John Gaps III AP

Originally published on Wed February 13, 2013 8:57 am

Why do so many people hate Monsanto?

Is it because this multinational corporation pioneered some enormously successful genetically engineered crops, including corn, soybeans and cotton?

Read more

Pages