Business

Code Switch
12:53 pm
Tue December 10, 2013

When Buying A Home Is Too Costly And The Rent Is Too Damn High

Jimmy McMillan ran for governor of New York state in 2010 as the candidate from the Rent is 2 Damn High party. (Party platform: The rent is too damn high!) The cost of renting a home is swallowing an ever larger portion of Americans' incomes.
Kathy Kmonicek AP

Originally published on Tue December 10, 2013 3:50 pm

Back in 1995, more than half of all people of color rented their homes — almost twice the proportion of white renters. Then the Clinton administration pushed policies to bolster homeownership rates, and those numbers began a gradual, decade-long decline. The number of people of color renting fell below 50 percent. This coincided with an increased willingness by lenders to extend credit including to subprime borrowers.

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Planet Money
10:19 am
Tue December 10, 2013

Do Americans Spend More On Video Games Or Movies?

PricewaterhouseCoopers

Originally published on Tue December 10, 2013 11:34 am

Americans spend more on video games than on tickets to the movies. Grand Theft Auto V was the fastest-selling entertainment product of all time, with sales of $1 billion in just three days.

But when you factor in everything — not just movie tickets, but on demand, rentals, etc. — Americans still spend way more on movies than they do on video games.

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Business
10:11 am
Tue December 10, 2013

Volcker Rule Aims To Rein In Banks' Risky Trades

American bank regulators unveiled the final version of the so-called Volcker Rule, which prohibits banks from trading stocks, bonds and derivatives for their own accounts. For more, Steve Inskeep speaks to NPR's Jim Zarroli.

Economy
9:59 am
Tue December 10, 2013

Puerto Rico Bound For Bailout?

Transcript

CELESTE HEADLEE, HOST:

This is TELL ME MORE from NPR News. I'm Celeste Headlee. Michel Martin is away. We're going to spend some time today talking about money. In a few minutes, we'll ask how you can make some extra cash by selling either the junk around your house or the junker in your driveway.

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Your Money
9:59 am
Tue December 10, 2013

Maximize Your Cash Flow By Selling Your Stuff

Transcript

CELESTE HEADLEE, HOST:

This is TELL ME MORE from NPR News. I'm Celeste Headlee. If your wallet's already hurting this holiday season, we're going to spend the next part of the program helping you out a little. In a few minutes, we'll find out how to make the most money selling your used car. But first, some financial experts say if you're looking for extra cash, look no further than common things in your own house.

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Business
5:29 am
Tue December 10, 2013

Treasury Department Sells Its Stake In GM

Originally published on Tue December 10, 2013 10:11 am

The U.S. Department of Treasury has gotten out of the auto business. The government completed its sales of stock in General Motors on Monday.

Business
5:29 am
Tue December 10, 2013

China's November Growth Adds To Hope For Global Upturn

Originally published on Tue December 10, 2013 10:11 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news begins with signs of a Chinese revival.

(SOUNDBITE OF MUSIC)

MONTAGNE: The latest economic numbers out of China are adding to hope for a global economic upturn. Growth figures for November show China's factory output is up 10 percent from a year ago, and exports are up almost 13 percent. That rebound has been helped by a boost in demand for Chinese goods in the United States and the European Union in the lead-up to the holiday shopping season. Transcript provided by NPR, Copyright NPR.

Business
5:29 am
Tue December 10, 2013

Businesses Object To Posting On-Job Injuries Online

Originally published on Tue December 10, 2013 10:11 am

Transcript

STEVE INSKEEP, HOST:

The government requires large employers to keep records of on-the-job injuries suffered by their employees. Now, the Obama administration wants to make those records easily available on a website. It says that would lead to safer workplaces. Manufacturers and businesses are objecting, arguing the data could be misinterpreted.

NPR's Brian Naylor reports.

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Business
5:29 am
Tue December 10, 2013

High Stakes For Banks As Volcker Rule Is Finalized

Originally published on Tue December 10, 2013 10:11 am

Transcript

RENEE MONTAGNE, HOST:

This is MORNING EDITION from NPR News, I'm Renee Montagne.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. Federal regulators have unveiled the final version of what has come to be called the Volcker Rule. It's a big part of the financial reform that went into affect three years ago. It's taken all those years to come up with the language that will set new limits on the kinds of trading that banks can do and cannot do. NPR's Jim Zarolli joins us now to talk about this. Hi Jim.

JIM ZAROLLI, BYLINE: Hi.

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Economy
5:29 am
Tue December 10, 2013

Study Shows Rising Rent Straining Family Budgets

Originally published on Tue December 10, 2013 10:11 am

Transcript

STEVE INSKEEP, HOST:

You may recall the guy who ran for governor of New York as part of the: Rent Is Too Damned High Party. Turns out, it is. A new study from the Harvard Joint Center for Housing Studies shows more and more families spending more and more of their monthly budgets on rising rents - leaving less money for everything else, including food.

Chris Herbert is one of the report's authors, and he spoke with our colleague, David Greene.

DAVID GREENE, HOST:

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Business
5:29 am
Tue December 10, 2013

Sysco To Buy U.S. Foods

Originally published on Tue December 10, 2013 10:11 am

Transcript

STEVE INSKEEP, HOST:

The biggest player in food distribution is gobbling up a rival.

RENEE MONTAGNE, HOST:

Sysco, which supplies places, such as restaurants and hospitals, is planning to buy U.S. Foods in a deal worth more than $8 billion. If approved by regulators, this could turn Sysco into a distribution colossus.

NPR's David Schaper has more.

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Business
3:12 am
Tue December 10, 2013

Women Still Largely Absent From Corporate Boards

Sheryl Sandberg, chief operating officer of Facebook, is one of the relatively few women to serve on major corporate boards.
Ramin Talaie Getty Images

Originally published on Tue December 10, 2013 10:11 am

Women are still not making headway when it comes to getting on corporate boards or into senior leadership roles within big companies.

New research out Tuesday examined Fortune 500 Companies and found that women hold only about 17 percent of the seats on boards of directors, and they have an even smaller share — about 15 percent — of senior executive positions.

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Business
3:12 am
Tue December 10, 2013

BP Argues Companies Are Unfairly Cashing In On 2010 Spill

The Deepwater Horizon oil rig burns in the Gulf of Mexico in April 2010.
Gerald Herbert AP

Originally published on Tue December 10, 2013 10:56 am

Oil giant BP is challenging hundreds of millions of dollars in claims that were filed by businesses after the company's 2010 oil spill in the Gulf of Mexico.

The total price tag for BP's oil spill is huge — $42.5 billion. At issue here is a fraction of that — but still a lot of money. BP says $540 million has been awarded to businesses for losses that "are either nonexistent, exaggerated or have nothing to do with the Deepwater Horizon accident."

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All Tech Considered
3:47 pm
Mon December 9, 2013

Teens Dig Digital Privacy, If Snapchat Is Any Indication

Three high school students in Oakland, Calif., swap photos using Snapchat.
Ike Sriskandarajah Youth Radio

Originally published on Tue December 10, 2013 8:45 am

The track record of commercial products designed with privacy as a top priority has been abysmal — at least until recently. The ephemeral texting app Snapchat is turning assumptions upside down about young people and their desire for digital privacy.

Fred Cate, director of applied cybersecurity research at Indiana University, is an expert on privacy in the digital age. But when it comes to the viability of tech products that promise privacy, Cate has always been skeptical.

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The Two-Way
3:39 pm
Mon December 9, 2013

Government Sells Last Shares In GM, Loses $10 Billion

General Motors Chairman and CEO Dan Akerson speaks to the media after a June 2013 GM shareholders meeting in Detroit. General Motors posted $152 billion in global revenues in 2012.
Bill Pugliano Getty Images

Originally published on Mon December 9, 2013 3:59 pm

Critics of the federal auto bailout will no longer be able to refer derisively to GM as "Government Motors" — on Monday, Treasury Secretary Jack Lew announced the U.S. government has sold its remaining shares in the carmaker.

"With the final sale of GM stock, this important chapter in our nation's history is now closed," Lew said, announcing the sale.

The net? Taxpayers lost $10.7 billion on the deal.

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Business
2:34 pm
Mon December 9, 2013

New American Airlines CEO Says Company Will Be Stronger

Originally published on Tue December 10, 2013 8:45 am

Transcript

MELISSA BLOCK, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

(SOUNDBITE OF A BELL AND CHEERING)

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Technology
2:34 pm
Mon December 9, 2013

Google VP: 'Pendulum Has Swung Too Far Toward Secrecy'

Originally published on Tue December 10, 2013 8:45 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block. We begin today with All Tech Considered and the top tech news of the day. Eight major technology companies are calling on President Obama to reform government surveillance programs. Google, Facebook, Apple and Microsoft are among the authors of an open letter to the president.

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The Salt
10:21 am
Mon December 9, 2013

'In Meat We Trust' Argues We Got The Meat Industry We Asked For

iStockphoto

Originally published on Wed December 11, 2013 8:36 am

The meat on your dinner table probably didn't come from a happy little cow that lived a wondrous life out on rolling green hills. It probably also wasn't produced by a robot animal killer hired by an evil cabal of monocle-wearing industrialists.

Truth is, the meat industry is complicated, and it's impossible to understand without a whole lot of context. That's where Maureen Ogle comes in. She's a historian and the author of In Meat We Trust: An Unexpected History of Carnivore America.

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Economy
10:05 am
Mon December 9, 2013

Why A 'Living' Wage Doesn't Add Up

Originally published on Mon December 9, 2013 1:44 pm

Transcript

CELESTE HEADLEE, HOST:

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Your Money
10:05 am
Mon December 9, 2013

Sharing Matters Most When Trying To Buy Happiness

Originally published on Mon December 9, 2013 1:44 pm

Transcript

CELESTE HEADLEE, HOST:

I'm Celeste Headlee. This is TELL ME MORE, from NPR News. Michel Martin is away. Coming up, infants are tested and screened for all kinds of illnesses, but a new report shows some hospitals are waiting too long to process those screening tests. The results could be bad. We're going to talk more about that in a few minutes but first, to happiness and the holidays.

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Business
6:18 am
Mon December 9, 2013

WTO Nations Say Deal Will Boost Global Trade

Transcript

DAVID GREENE, HOST:

Officials of 159 countries have taken a big step forward in promoting global trade. This happened over the weekend at World Trade Organization talks in Indonesian.

STEVE INSKEEP, HOST:

Here's NPR's Jim Zarroli.

JIM ZARROLI, BYLINE: The countries attending the WTO meeting agreed to a treaty that they say will lower trade barriers and speed up the passage of goods across borders. Officials say the deal could increase global trade by nearly a trillion dollars over time and also create millions of jobs.

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Business
5:04 am
Mon December 9, 2013

New York's Insurance Exchange Readies For Holiday Rush

Joey Cappuccitti, who works at a Maximus call center, talks with a person looking for help with New York's insurance exchange.
Fred Mogul

Originally published on Mon December 9, 2013 8:55 am

New York's health insurance marketplace has been running relatively smoothly, compared with healthcare.gov, the site the federal government is running for 36 states.

But that's a low bar, and even though about 50,000 New Yorkers had signed up in the first two months, almost every day still brings complaints and glitches. Donna Frescatore, the head of the New York State Of Health, says there are no serious patterns of trouble, just individual issues that the state and its contractors address one by one.

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Business
3:06 pm
Sun December 8, 2013

How NAFTA Drove The Auto Industry South

Originally published on Sun December 8, 2013 4:12 pm

President Bill Clinton signed the North American Free Trade Agreement into law 20 years ago on Dec. 8, 1993. One of the clear beneficiaries over the past two decades has been the Mexican automobile industry.

The Two-Way
12:40 pm
Sun December 8, 2013

Is Mining On The Moon's Horizon?

Alexander Klein AFP/Getty Images

Originally published on Sun December 8, 2013 4:27 pm

A U.S. company is taking what it hopes to be a small step toward eventually mining the moon.

Moon Express, based in Mountain View, Calif., just unveiled the design for a small robot spacecraft about the size of a coffee table that it says could move about the moon's surface powered only by solar panels and hydrogen peroxide.

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Economy
5:58 am
Sun December 8, 2013

NAFTA Turns 20, To Mixed Reviews

Originally published on Mon December 16, 2013 11:15 am

Transcript

RACHEL MARTIN, HOST:

It has been almost 20 years since the U.S. Congress approved the North American Free Trade Agreement - New Year's Day to be precise. It was an agreement that was met with all kinds of controversy. Over the next few weeks, NPR will be airing a series of stories looking back at NAFTA. This morning, NPR's Jim Zarroli tackles one of the first assumptions about NAFTA, that it would send a wave of American jobs to Mexico, where labor is cheaper.

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Economy
3:35 am
Sun December 8, 2013

Economists Toast 20 Years Of NAFTA; Critics Sit Out The Party

A truck bearing Mexican and U.S. flags approaches the border crossing into the U.S., in Laredo, Texas.
Reuters /Landov

Twenty years ago, millions of Americans were cocking their ears — waiting to hear a "giant sucking sound."

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The Salt
6:05 am
Sat December 7, 2013

Fishery Closure Puts New England's Shrimp Season On Ice

Northern shrimp are shoveled into a holding chamber on a trawler in the Gulf of Maine in 2012. Stocks of the shrimp have been declining for several years, leading regulators to cancel the New England shrimping season.
Robert F. Bukaty AP

Originally published on Sat December 7, 2013 7:56 pm

New England chefs like Andrew Taylor and Mike Wiley are still coming to terms with the news: No more shrimp until further notice.

This week, regulators shut down the New England fishery for Gulf of Maine shrimp for the first time in 35 years. The Atlantic States Marine Fisheries Commission judged the stocks of the popular shrimp, also known as northern shrimp, to be dangerously low.

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Business
4:07 pm
Fri December 6, 2013

Could The Party Soon Be Over For Airbnb?

Originally published on Fri December 6, 2013 5:35 pm

For freelancers and artists living in expensive cities like New York, the home-sharing site Airbnb has become a way to subsidize their rents. It's also often illegal. With the site's users in the crosshairs of New York's attorney general, and questions elsewhere, some now wonder if the good times are going to end.

Business
4:07 pm
Fri December 6, 2013

Planet Money T-Shirt Exposes Issues Of Work, Trade And Clothes

Josh Davis Planet Money

Originally published on Tue December 10, 2013 10:42 am

All this week, All Things Considered and Morning Edition has aired stories about the global journey a T-shirt makes from seed to finished product. Over the months NPR's Planet Money team spent reporting the series, they tackled questions about trade, work and clothes play in the global economy. There's a whole lot more about a simple T-shirt's journey from cotton to completion here.

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Economy
4:07 pm
Fri December 6, 2013

Unemployment Drops To Five-Year Low

Originally published on Wed December 11, 2013 1:22 pm

Transcript

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. The unemployment rate hit a five-year low in November. That's according to the government's latest monthly jobs report. The other headline, the economy beat expectations adding more than 200,000 jobs. NPR's John Ydstie has more on what that says about the health of the economy and about whether the Federal Reserve might dial back its stimulus efforts.

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