Originally published on Thu March 13, 2014 2:56 pm
On Thursday, President Obama rolled out his plan for strengthening overtime pay protections for millions of workers. In his view, if more workers got fatter paychecks, they could spend more and stimulate the economy.
But if his critics are right, then employers would end up laying off workers to make up for the higher wage costs. And that would hurt the already painfully slow recovery.
Joe Chornyak uses a recent personal experience with being patient to illustrate a basic financial investment strategy. Markets today are volatile and more than likely always will be, but being patient and riding through the storm will always pay off in the long run. After the 2008 economic downturn markets eventually rebounded and hit record highs. Every market correction is different, and patience eventually pays off.
"The website of major bitcoin exchange Mt. Gox was offline Tuesday amid reports it suffered a debilitating theft, a new setback for efforts to gain legitimacy for the virtual currency," The Associated Press reports.
The online magazine Ozy covers people, places and trends on the horizon. Co-founder Carlos Watson joins All Things Considered regularly to tell us about the site's latest feature stories.
This week, Watson talks with host Arun Rath about pay-as-you-go coffee shops popping up around the world that offer a place to work "without any kind of moral shame" or pressure to spend money on coffee and snacks.
They also discuss how the rise of the bioscience sector in Cleveland is revitalizing the city's economy.
Originally published on Fri February 21, 2014 10:04 am
Apple founder Steve Jobs, a man who probably did as much as anyone to set in motion the slow but steady demise of snail mail, will be featured on a U.S. postage stamp, according to a document from the Citizens' Stamp Advisory Committee.
In 1984, it cost $10,000 a year to go to Duke University. Today, it's $60,000 a year. "It's staggering," says Duke freshman Max Duncan, "especially considering that's for four years."
But according to Jim Roberts, executive vice provost at Duke, that's actually a discount. "We're investing on average about $90,000 in the education of each student," he says. Roberts is not alone in making the claim. In fact, it's one most elite research institutions point to when asked about rising tuition.
Back in 2012, reporter Kevin Roose went undercover at a very exclusive party.
It was a dinner for a secret society, held once a year, at the St. Regis hotel in New York City. The secret society is called Kappa Beta Phi, and it's made up of current and former Wall Street executives — people like Michael Bloomberg, former heads of Lehman Brothers, Bear Stearns, Goldman Sachs. And every year the group holds a dinner to induct new people into the group — they're called neophytes.
Originally published on Thu February 13, 2014 10:44 am
(We put a new top on this story at 9:25 a.m. ET and added an update at 10:15 a.m. ET.)
As NPR's David Folkenflik pointed out earlier today, Comcast's proposed $45 billion purchase of fellow cable company Time Warner will receive some scrutiny from federal officials. Here's some more about that part of the story:
In America, total student loan debt tops $1 trillion and a four-year college degree can cost as much as a house — leaving many families wondering if college is really worth the cost.
Yes, a new study of young people finds. The study, released Tuesday by the Pew Research Center, looks at income and unemployment among young adults. Paul Taylor, executive vice president of special projects at Pew, says it's pretty much case closed when it comes to the benefits of going to college.
A college education is famously expensive. But what about the tests just to apply? Benjamin Tonelli wrote an opinion piece for the Wall Street Journal this week; and he questioned the costs of the SAT and AP tests that students have to take just to be considered for admittance to college, and asked if this doesn't discriminate against poorer families especially. Mr. Tonelli is a senior at Garfield High School in Seattle, and he joins us. Thanks very much for being with us.
And a jury in New York is expected to begin deciding the fate of Matthew Martoma this week. A former portfolio manager at the hedge fund company SAC Capital Advisors, Martoma is accused of insider trading. Officials say he sold shares of two pharmaceutical companies after obtaining inside information about drugs being developed.
NPR's business news starts with a Cleveland hub closure.
(SOUNDBITE OF MUSIC)
INSKEEP: United Airlines announced plans over the weekend to drop Cleveland Hopkins International Airport as one of its main hubs for connecting flights. Company officials say the hub has not turned a profit in more than a decade and loses tens of millions of dollars annually. How is that possible? It's one of the few airports I can remember where you can get a boilermaker.
In his State of the Union speech Tuesday, President Obama stepped up to a podium before Congress and the country and declared that the state of our union was strong.
"Here are the results of your efforts: The lowest unemployment rate in over five years; a rebounding housing market; a manufacturing sector that's adding jobs for the first time since the 1990s," the president said.