JPMorgan Chase holds its annual shareholder meeting today in Tampa, Florida, and the shareholders will vote on a key measure: a proposal to strip the CEO, Jamie Dimon, of his other title, chairman of the board. A growing number of companies have split the CEO and chairman roles.
Shareholder activists and corporate governance experts say having a balance of power at the top helps to reduce risk. The bank and its supporters disagree. NPR's Yuki Noguchi reports.
Microsoft hasn't exactly had a great couple of years.
Its new Windows 8 operating system was held responsible for the drop in PC sales last quarter. Sales of its Windows Phones lag far behind both the iPhone and Google's Android phones.
The light in the darkness for Microsoft has been the Xbox 360, which has been the top-selling game console for over two years — beating out both the Nintendo Wii and Sony's PlayStation. On Tuesday, Microsoft is expected to announce a new version of the Xbox.
Boeing's 787 jetliners are returning to the skies. Four months ago, the entire fleet was grounded following serious battery problems on two jets, but the batteries have now been redesigned. Planes have been retrofitted, and airlines are beginning to put them back into service. Today, United Airlines, the only U.S. carrier flying the 787, put two of them back into service. NPR's Wendy Kaufman reports.
From NPR News, it's ALL THINGS CONSIDERED. I'm Melissa Block.
ROBERT SIEGEL, HOST:
I'm Robert Siegel. Some big numbers are being thrown around in Silicon Valley today. This morning, Yahoo CEO Marissa Mayer announced that Yahoo is buying Tumblr, a social media and blogging startup. The price, $1.1 billion and that for a site which last year earned a tiny fraction of that amount in revenue.
Yahoo's $1.1 billion purchase of Tumblr could be considered a bargain compared with its other big-dollar bets. The company's history is dotted with pricey purchases of once-hot Web properties that had more promise than eventual purpose. A look back:
William von Schneidau, an intrepid butcher in Seattle, is giving a whole new meaning to "potbelly pig." Lately, he's been feeding marijuana refuse to the pigs he turns into prosciutto for BB Ranch, his butcher shop in the city's famous Pike Place Marke
Yahoo confirmed early Monday morning that it is buying Tumblr in a deal worth about $1.1 billion. "Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo added.
In its statement announcing the deal, Yahoo says that:
Two ports, the Ports of Los Angeles and Long Beach, handle almost half of all of the consumer goods being shipped into the United States. Together, these two ports are also the single largest polluter in Southern California, a region famous for its smog.
NPR's Kirk Siegler reports on a new California law that will soon require some of the largest diesel-guzzling ships to kill their engines and plug in to shore power at the docks.
Alongside a freeway in Northern California is a billboard which reads: Pivot to Canada. The billboard is urging high-tech immigrants living in the U.S. to pay attention to Canada. Canada wants to attract highly-skilled, foreign-born tech workers who are fed up with the visa process that they must follow to remain in the U.S.
TD Bank volunteers sort donated food into barrels at the Manna Food Center in Gaithersburg in Montgomery County, Md. Poverty in the county just outside Washington, D.C., has grown by two-thirds since 2007.
Credit Gabriella Demczuk / NPR
Elizabeth Kneebone is co-author, with Alan Berube, of <em>Confronting Suburban Poverty in America</em>, a new book from the Brookings Institution.
Credit Pam Fessler/NPR
Fafaneva Phillip Avudufu (left) and his wife, Akouavi Davi, with their grandson Joshua, 4, in their apartment in Gaithersburg, Md.
Poverty has grown everywhere in the U.S. in recent years, but mostly in the suburbs. During the 2000s, it grew twice as fast in suburban areas as in cities, with more than 16 million poor people now living in the nation's suburbs — more than in urban or rural areas.
Elizabeth Kneebone, a fellow with the Metropolitan Policy Program at the Brookings Institution, says this shift in poverty can be seen in Montgomery County, Md., right outside the nation's capital.
By all the laws of anything, Winston Chen should not have quit his well-paying, midcareer job at a software company at age 40. But one day he was watching a TED Talk, one of those popular online video presentations, delivered by a New York designer.
"He presented this absolutely irresistible idea," Chen says. "He said, 'Why don't we take five years out of retirement and spread them throughout your working life?' "
"The Yahoo board has approved a deal to pay $1.1 billion in cash for the blogging site Tumblr."
The Journal, the only outlet reporting the approval, is sourcing its story to "people familiar with the matter." Lauren Armstrong, a Yahoo spokeswoman, told us in an email that they "don't comment on rumors or speculation."
One hundred and forty years ago this month, a German immigrant named Levi Strauss patented the first pair of jeans ever made. During the California gold rush, Strauss traveled across the country to set up a West Coast branch of his family's dry goods business. That business changed forever when Strauss got a letter from a tailor named Jacob Davis.
The Tesla Model S, Motor Trend Car of the Year, is introduced at the 2013 North American International Auto Show, in Detroit in January. Tesla's attempts to sell its cars without going through dealerships is meeting resistance.
An Afghan worker helps excavate part of the mountaintop copper works above the ancient city at Mes Aynak in February. Afghanistan is believed to be sitting on massive mineral and metal deposits. But many obstacles have prevented large-scale mining from getting underway.
Credit Matthew C. Rains / MCT/Landov
A journalist walks by an exhibit of minerals on the way to a news conference by the Afghan minister of mines, in Kabul in 2010.
For years, reports have suggested that Afghanistan is sitting on massive deposits of copper, gold, iron and rare earth minerals valued up to $3 trillion. This provides hope for a future economy that would not have to rely so heavily on foreign donations.
But with an uncertain political, regulatory and security environment, international investors are hesitant. And it could be many years before Afghanistan begins extracting its mineral wealth.
This is TELL ME MORE, from NPR News. Michel Martin is away. I'm Celeste Headlee. Coming up, it's National Bike to Work Day, but many millennials prefer two wheels to four. Why more 20-somethings are driving less. That's just ahead.
From teens with drive, we turn now to young people who have no interest in driving. This is National Bike to Work Day, and a substantial number of millennials choose bikes or public transportation or their feet to get around instead of cars. That's according to the U.S. Public Interest Research Group, or PIRG, which concluded that the 20th century driving boom is over.
Paul Eisenstein has written about this trend. He's the editor of TheDetroitBureau.com, and he joins me now. Welcome.
Originally published on Mon December 16, 2013 3:23 pm
You can give away almost anything — your time, money, food, your ideas. In this hour, stories from TED speakers who are "giving it away" in new and surprising ways, and the things that happen in return.
Copyright 2013 NPR. To see more, visit http://www.npr.org/.
Amazon's U.K. unit racked up sales of $6.5 billion last year, but only paid $3.7 million in <a href="http://www.npr.org/blogs/thetwo-way/2013/05/16/184357484/book-news-amazons-tiny-tax-payment-draws-fresh-scrutiny">corporate taxes</a>.
On Thursday, President Obama named Daniel Werfel, 42, acting IRS commissioner. The announcement comes a day after the resignation of Steven Miller, who got caught up in the controversy over the IRS targeting Tea Party groups.
A 79 percent drop in earnings — That's what the computer maker reported to investors Thursday. The reason, analysts say, it's harder to sell PCs these days with the growing popularity of smartphones and tablets
It's MORNING EDITION, from NPR News. I'm Steve Inskeep. This week in San Francisco, Google held its annual developers conference. The Internet search giant debuted updates for just about everything from Google+ to Maps, and gave talks on gadgets like Google Glass. And, as NPR's Steve Henn reports, Google laid out its vision for its future, as well as our future.
With supplies high and prices at historic lows, there's debate whether companies should be allowed to export the gas overseas for a higher price. Many energy companies have applied for government approval to ship liquefied natural gas worldwide. So far, only one company has gotten a license to do that in the past 30 years..
Sales of guns and ammunition rose after President Obama took office in 2008, and they went through the roof starting late last year, when a school shooting led to a push for new gun control measures. That's led to a prolonged ammunition shortage, even with manufacturers running at full capacity.