Business

Economy
3:45 pm
Tue October 8, 2013

It's All About The (New, More Secure) Benjamins, Baby

Originally published on Tue October 8, 2013 5:24 pm

A government shutdown isn't stopping the release of a new 100-dollar bill. We'll take a look at the new Ben's high-tech makeover.

It's All Politics
2:56 pm
Tue October 8, 2013

House GOP's Latest Idea: A Fiscal Supercommittee, Sort Of

Rep. Pete Sessions (R-Texas) at the hearing where he discussed his bill to create a bipartisan committee to tackle fiscal issues.
C-SPAN screen shot

The latest House GOP gambit in the fiscal fight is ... wait for it ... a supercommittee.

But Republicans aren't calling it a supercommittee since that's the term for the failed panel that brought us the the sequester.

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Your Money
10:09 am
Tue October 8, 2013

Pyramid Schemes: If It Looks Too Good To Be True, It Probably Is

Transcript

MICHEL MARTIN, HOST:

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It's All Politics
10:06 am
Tue October 8, 2013

D.C. Bars And Restaurants Feel Shutdown Squeeze

Originally published on Tue October 8, 2013 1:14 pm

Federal employees aren't the only ones feeling the heat in Week 2 of the government shutdown.

D.C. bars and restaurants are also getting nervous about just how long their customers will be out on furlough — and how that might dent their bottom line. While attendance at local happy hours was up in the past week, according to some reports, there are serious concerns about whether that can last with so many government workers sent home.

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The Government Shutdown
9:59 am
Tue October 8, 2013

Obama's Absence At Asia Summit Seen Hurting U.S. Trade

Indonesian President Susilo Bambang Yudhoyono speaks Tuesday at the Asia-Pacific Economic Cooperation summit on the Indonesian resort island of Bali. President Obama missed the meeting due to the budget impasse in Washington.
Beawiharta/Pool EPA/Landov

Originally published on Tue October 8, 2013 1:49 pm

Imagine a poker table.

At one seat, China's President Xi Jinping studies his cards. At another, Russian President Vladimir Putin is stroking his chin. Asian leaders fill the other seats, each trying to win the pot, which is filled — not with poker chips — but with jobs.

That's the kind of high-stakes game that played out this week in Indonesia, where global leaders got together to discuss trade relations. Their gathering ended Tuesday, and exactly who won what is not yet clear.

But this much is known: President Obama was not at the table.

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It's All Politics
6:18 am
Tue October 8, 2013

Tuesday Morning Political Mix

Despite all the warning signs, U.S. leaders continue to barrel toward a debt default with no one yet willing to step on the brakes.
SAUL LOEB AFP/Getty Images

Good morning, fellow political junkies. It's Day 8 of the partial shutdown of the federal government. Among the only certainties: many federal workers are a day closer to missing a paycheck and the nation is a day closer to hitting the debt ceiling.

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The Two-Way
6:11 am
Tue October 8, 2013

Senate Democrats Could Set Up Test Vote On Debt Ceiling

Senate Majority Leader Harry Reid of Nevada speaks at a news conference last week on the government shutdown.
Win McNamee Getty Images

Originally published on Tue October 8, 2013 9:14 am

Senate Democrats might introduce a measure to raise the debt ceiling, even as the debate over a spending bill to restart the federal government drags on.

The Associated Press reports:

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Business
2:37 am
Tue October 8, 2013

Measure To Fix 'Pint-Size' Problem In Michigan

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is pint-sized.

A bill introduced in Michigan would require that pints of beer be actual pints of beer - that is a full 16 ounces.

RENEE MONTAGNE, HOST:

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Business
2:37 am
Tue October 8, 2013

Job Cuts In The Works At Alcatel-Lucent

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

NPR business news begins with high-tech job cuts.

(SOUNDBITE OF MUSIC)

INSKEEP: The French and American telecommunications manufacturer, Alcatel-Lucent, confirmed this morning it plans to cut 10,000 jobs worldwide. A company statement said 2,100 of those cuts will be from its operations in North and South America.

Now Alcatel-Lucent has been losing money for years. About a quarter of its staff are based in the United States, where the company runs the Nobel Prize-winning Bell Labs research facility.

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Law
2:37 am
Tue October 8, 2013

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 6:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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Research News
2:37 am
Tue October 8, 2013

Theorists Compare Government Shutdown To A Not-So-Fun Game

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

So, we're in the second week of the government shutdown, and just over a week from now, federal borrowing authority expires, making it possible the federal government could fail to pay many of its legal obligations that Congress previously approved. At the center of both issues is House Speaker John Boehner, who last week accused Democrats of letting the shutdown continue because Democrats felt they were winning.

REPRESENTATIVE JOHN BOEHNER: This isn't some damn game.

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Around the Nation
2:37 am
Tue October 8, 2013

Anxious St. Louis Businesses Want Shutdown To End

Originally published on Tue October 8, 2013 6:26 am

Transcript

RENEE MONTAGNE, HOST:

In our continuing coverage of the impact of the partial government shutdown, we head now to St. Louis. It's home to around 25,000 federal workers, and many of them are wondering when they'll get back to work. So too are the many small businesses that rely on those workers as customers. St. Louis Public Radio's Tim Lloyd has more.

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Politics
2:37 am
Tue October 8, 2013

Democrats Focus Government Shutdown Blame On Boehner

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

And the partial government shutdown has brought intense attention to House speaker John Boehner. He's working to keep Republicans united in a battle against President Obama.

INSKEEP: People close to Boehner have made it clear he did not want this fight. But urged by other lawmakers, Boehner dug in, insisting that President Obama must negotiate.

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Around the Nation
1:05 am
Tue October 8, 2013

Phase 2 Of BP Trial Focuses On Amount Of Spilled Oil

The Deepwater Horizon oil rig is seen burning in the Gulf of Mexico in April 2010. A second phase of the BP trial, which started this week, looks at just how much oil spilled into the Gulf.
Gerald Herbert AP

Originally published on Tue October 8, 2013 10:48 am

In a New Orleans courtroom this week, BP and the federal government are arguing over how much oil gushed into the Gulf of Mexico after the Deepwater Horizon explosion in 2010.

Oil flowed from the out-of-control well for nearly three months. Just how much oil spilled will be key in determining the amount BP will have to pay in federal fines and penalties.

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Economy
3:31 pm
Mon October 7, 2013

In A Debt Crisis, U.S. May Have To Decide Payment Priorities

House Republicans have proposed directing the Treasury Department to pay bondholders first if there is not enough money available to pay all the nation's debts.
Carolyn Kaster AP

Originally published on Wed October 9, 2013 10:02 am

The government is just 10 days away from defaulting on its debt. Treasury Secretary Jack Lew has said that by Oct. 17, the department will likely have less money on hand than it needs to pay all its bills.

"The reality is that if we run out of cash to pay our bills, there is no option that permits us to pay all of our bills on time, which means that a failure of Congress to act would for the first time put us in a place where we're defaulting on our obligations as a government," Lew said on NBC's Meet The Press on Sunday.

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Business
2:20 pm
Mon October 7, 2013

Japanese Airlines Makes Deal To Buy Airbus Planes

Originally published on Tue October 8, 2013 9:18 am

Transcript

MELISSA BLOCK, HOST:

Japan Airlines stunned the aviation world today by announcing that for the first time in the company's history, it will buy new wide-bodied jets from Airbus, the European aircraft manufacturer. The deal is worth billions and it's a big setback for Boeing, which has long dominated the Japanese aviation market. NPR's David Schaper reports.

DAVID SCHAPER, BYLINE: Airbus president and CEO Fabrice Bregier was positively beaming in Tokyo this morning in an interview with financial network CNBC.

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Planet Money
2:10 pm
Mon October 7, 2013

Weirdly, A Default Could Make Investors More Eager To Lend The U.S. Money

J.P. Morgan

With the debt ceiling threshold 10 days away, the big question on everyone's mind is: what will happen if the government defaults? The story usually goes like this:

1. Congress does not raise the debt ceiling in time.

2. The U.S. defaults on its debt.

3. Financial markets immediately freak out because U.S. debt is no longer "risk free."

4. As a result, investors will start demanding higher interest rates to lend money to the U.S. government

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The Two-Way
1:16 pm
Mon October 7, 2013

China Cautions U.S. Over Debt Ceiling Fight

Originally published on Mon October 7, 2013 3:56 pm

China — which holds nearly $1.3 trillion in U.S. securities (pdf) — is asking the U.S. to get its finances in order and not allow a political stalemate to cause the country to default on its obligations for the first time in history.

The United States is expected to run out of money by Oct. 17, so the Treasury needs Congress to extend its credit limit before then. As has happened before, the House and Senate are at odds and the prospects of a compromise look shaky.

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The Two-Way
8:06 am
Mon October 7, 2013

In Blow To Boeing, JAL Places Nearly $10 Billion Airbus Order

An Airbus A350-900 takes off from an airport in Toulouse, France, on its maiden flight. Japan Airlines reportedly has ordered 18 A350-900s and 13 A350-1000s.
AFP/Getty Images

Originally published on Mon October 7, 2013 2:02 pm

Japan Airlines is buying $9.5 billion worth of new jetliners from Airbus, placing its first-ever order with the European plane-maker for 31 A350s to replace the carrier's aging fleet of Boeing 777s.

The airline's president, Yoshiharu Ueki, said the order was unrelated to Boeing's problems with the 787, but the huge order is seen as a major coup for the Toulouse, France-based manufacturer at the expense of its American rival.

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Economy
2:55 am
Mon October 7, 2013

What's The Cost Of Budget Gridlock?

Originally published on Mon October 7, 2013 3:33 am

Renee Montagne talks to David Wessel, economics editor of The Wall Street Journal, about the cost of the government shutdown, and the dangers of the threatened government default.

Business
2:55 am
Mon October 7, 2013

Updated $100 Bill To Enter Circulation

Originally published on Mon October 7, 2013 5:03 am

The Federal Reserve estimates that up to two-thirds of all U.S. C -notes are circulating abroad at any given time. The bill is also the most counterfeited. Federal officials are confident the new bill will be much harder to fake.

Business
2:55 am
Mon October 7, 2013

Political Crisis Keeps Obama From Asia-Pacific Summit

Originally published on Mon October 7, 2013 4:20 am

Leaders of Asia-Pacific countries are wrapping up an economic summit in Indonesia. Much of the talk in the region over the weekend focused on the event's big no show: President Obama. Because of the partial government shutdown in the U.S., the president decided to stay at home and monitor developments.

Business
2:55 am
Mon October 7, 2013

A Gain For Airbus Is A Loss For Boeing

Originally published on Mon October 7, 2013 4:41 am

Japan Airlines has announced it's ordering 31 wide-body jets from Europe's major airplane manufacturer. It's a deal worth $9.5 billion. It's a huge sale for Airbus and a big blow for America's Boeing, which for decades has dominated sales to Japanese airlines.

Around the Nation
2:55 am
Mon October 7, 2013

Labor-Starved Pear Farmers Buckle Under Bumper Crop

Some of this season's Comice pear harvest is rotting in Pacific Northwest orchards because there aren't enough workers to pick it.
Deena Prichep for NPR

Originally published on Mon October 7, 2013 11:12 am

It's always a bit sad to say goodbye to summer corn and tomatoes, and settle into fall.

There are consolations, though — like the new crop of pears. Over 80 percent of America's fresh pears are grown in the Pacific Northwest, and this year's harvest is slated to be one of the biggest on record.

But some of the fruit is rotting in the orchards because there aren't enough workers to pick them.

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All Tech Considered
1:07 am
Mon October 7, 2013

Wanted: A New Generation Of High-Tech Aviation Workers

The Wright Brothers Flyer lifts off in Kitty Hawk, N.C., on Dec. 17, 1903. Now 110 years later, a thriving aviation industry is looking to fill jobs in high-tech manufacturing.
AP

Originally published on Mon October 7, 2013 8:53 am

Across North Carolina, many license plates read "First in Flight" — a tribute to Orville and Wilbur Wright. Their plane first flew there 110 years ago.

Today, the state has one of the nation's busiest airports and dozens of aviation companies. And finding workers to fill those jobs has been a challenge.

No longer are workers building legs of furniture, hemming shirts and rolling cigarettes. They're fixing GPS technology, working on stabilizers and manufacturing the next era of aviation.

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Business
3:06 pm
Sun October 6, 2013

Tesla Slips From Pedestal That May Have Been Too High

It's been a rough week for Tesla, but extra scrutiny is expected for the new car on the block, says Jake Fisher of Consumer Reports.
Jeff Chiu AP

Originally published on Fri October 18, 2013 7:52 am

Over the last year of so, Tesla motors has received some really good press. But this past week, it's been knocked off its pedestal.

"We're a country that likes to put things up on pedestals and then tear them down from pedestals. We do that with people, I think we do that with things," says Jack Nerad, an analyst with Kelley Blue Book.

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The Salt
5:18 am
Sun October 6, 2013

That Smoky Smell Means Chile Roasting Season In New Mexico

Fresh picked green chiles are bound for stews, burritos, enchiladas, pozole and more. Fall is chili roasting season in New Mexico.
Tim Robbins NPR

Originally published on Sun October 6, 2013 11:39 am

It's chile season in New Mexico, where they take their chiles pretty seriously.

Indeed, the chile is the official state vegetable, so it's probably best to not mention it is actually a fruit. No matter what it is, the fall harvest is on, and that means it's time to fire up the grills.

Green chiles roasting over a hot gas flame give off a smoky, sweet, pungent perfume.

That smell is part of what has drawn customers like Lorenzo and Peggy Lucero to the Diaz farm in Deming, in southwest New Mexico, for the past 30 years.

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Business
3:56 pm
Sat October 5, 2013

Behind JPMorgan's Potentially Massive Settlement With Feds

Originally published on Sat October 5, 2013 4:36 pm

Transcript

ARUN RATH, HOST:

If you're just joining us, it's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.

JPMorgan is one of the world's largest financial institutions. And now there are reports that JP may face the largest bank fine in American history. Bank regulators are in negotiations with JPMorgan over allegations involving bad mortgages. It's just the latest in a string of legal troubles for JPMorgan.

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The Two-Way
11:44 am
Sat October 5, 2013

Pirate Joe's Celebrates Dismissal Of Trader Joe's Lawsuit

"I bought the stuff at full retail. I own it," says Michael Hallatt, owner of the _irate Joe's grocery in Vancouver. Trader Joe's federal lawsuit against his business was dismissed this week.
_irate Joe's

Originally published on Sat October 5, 2013 1:32 pm

Pirate Joe's, the grocery store that made waves — and attracted a lawsuit — for selling Trader Joe's items in Canada, has won a battle in its legal fight with the supermarket chain. A U.S. district court judge has granted the Vancouver store's motion to dismiss a trademark infringement lawsuit.

After the lawsuit was filed, Pirate Joe's took on the name _Irate Joe's. The store's owner, Mike Hallatt, says he began his enterprise on a small scale last year, driving groceries across the border from Washington State to Vancouver. Trader Joe's does not operate any stores in Canada.

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Reporter's Notebook
6:03 am
Sat October 5, 2013

Does Capitalism Work? A True/False Quiz In Times Square

Steve Lambert's art installation asks people to vote in an effort to open up the discussion about capitalism. That word can be a red flag for many, Lambert says.
Jake Schlichting Times Square Arts

Originally published on Sat October 5, 2013 9:52 am

I'm walking through Times Square, the crossroads of the world. Just when I reach the line for cheap Broadway tickets, I see it: a giant billboard with the word "capitalism" in bright white lights and the words "works for me!" in cursive below. There's a podium and two buttons where you can vote whether the statement is "true" or "false."

Peggy Demitrack, a tourist from Cleveland, is adamant when she pushes the "true" button. She says capitalism works for anyone who strives and educates themselves.

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