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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.