Business

Business
9:10 am
Wed October 31, 2012

America's Most Expensive Storms

A firefighter surveys the smoldering ruins of a house in the Breezy Point section of New York.
Mark Lennihan AP

While we're on the subject of devastating storms, consider a report published last year by the National Hurricane Center. The title alone makes it worth a look:

THE DEADLIEST, COSTLIEST, AND MOST INTENSE UNITED STATES TROPICAL CYCLONES FROM 1851 TO 2010 (AND OTHER FREQUENTLY REQUESTED HURRICANE FACTS)

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Energy
7:31 pm
Wed October 24, 2012

Could U.S. Produce Enough Oil To Rival Saudi Arabia?

Austin Mitchell walks away from an oil derrick outside Williston, N.D., in July 2011. North Dakota is now the No. 2 producer of oil in the U.S. behind Texas.
Gregory Bull AP

Originally published on Thu October 25, 2012 2:21 pm

An oil boom is under way in the United States. Since 2008 domestic oil production has increased dramatically, reversing what was a nearly three-decade decline. That has some predicting the U.S. could overtake Saudi Arabia as the world's largest petroleum producer in coming years.

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The Two-Way
5:44 pm
Wed October 24, 2012

Rajat Gupta, Former Goldman Sachs Director, Sentenced To Two Years

Rajat Gupta as he arrived at the federal courthouse in Manhattan in June.
Emmanuel Dunand AFP/Getty Images

Rajat Gupta, who was once a director at Goldman Sachs and Procter & Gamble, has been sentenced to two years in prison, after a federal jury convicted him of insider trading.

Gupta was convicted of leaking information to Galleon Rajaratnam, the billionaire co-founder of Galleon Group who was found guilty of fraud and conspiracy.

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The Two-Way
1:46 pm
Wed October 24, 2012

Here's The List: 63 Barnes & Noble Stores Where Crooks Hacked PIN Pads

A Barnes & Noble store in San Bruno, Calif. It's on the list.
Justin Sullivan Getty Images

Originally published on Thu October 25, 2012 9:41 am

If you shopped recently at 63 Barnes & Noble stores in nine states and used a credit or debit card there's a chance that thieves got hold of data about your accounts and your PIN.

As the company has announced:

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The Two-Way
8:48 am
Thu October 18, 2012

Jobless Claims Take Sharp Jump: Rose By 46,000 Last Week

The number of first-time claims for jobless benefits rose by 46,000 last week, to 388,000, the Employment and Training Administration says.

The previous week's total — 342,000 — was the fewest since early 2008. The increase last week put claims back into the range where they've been stuck for a year, between 350,000 and 400,000.

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The Salt
12:03 pm
Wed October 3, 2012

Freshwater Shrimp: Still Not A Midwestern Cash Crop

A patron enjoys the offerings at this year's Ohio Fish and Shrimp Festival.
Maureen Langlois NPR

Originally published on Wed October 3, 2012 6:07 pm

It's harvest time in the heartland, but not just for apples and squash. In small, back-lot ponds on farms across the Midwest, a different crop has been growing all summer. They're substantial, slightly sweet and a revelation to the land-locked palate, not to mention worth top dollar. Yep, it's shrimp season in Ohio.

But don't ask for any Midwestern shrimp at your local fishmonger. There aren't enough yet to make it to the store.

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The Two-Way
7:38 pm
Mon October 1, 2012

New York Sues JPMorgan Over Mortgage-Backed Securities

Originally published on Tue October 2, 2012 8:42 am

  • From 'Morning Edition': NPR's Jim Zarroli reports

New York's attorney general has sued JPMorgan Chase, alleging that a unit now owned by the banking giant fraudulently sold mortgage-backed securities in the run-up to the 2008 financial crisis.

The civil lawsuit filed Monday by state Attorney General Eric Schneiderman is the first to be brought by the RMBS Working Group – the task force formed by President Obama in January to pursue alleged wrongdoing at the time of the financial crisis.

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The Two-Way
10:46 am
Fri September 28, 2012

Apple Is 'Extremely Sorry' For Its Much-Maligned Maps, CEO Tim Cook Says

Will it take you where you want to go? A new iPhone 5 and Apple's new mapping software.
Beck Diefenbach Reuters /Landov

How much of a "public relations disaster" has Apple's new mapping software been?

Big enough that the famously proud company has apologized — and suggested that users can turn to arch rival Google Maps instead.

In a message "to our customers" posted this morning, CEO Tim Cook says:

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Business
3:40 am
Thu September 27, 2012

In Solyndra's Wake, Solar Company Sees Bright Spot

SoloPower is betting it will succeed where others have failed with a $197 million loan from the Department of Energy.
SoloPower/PRNewsFoto AP

Originally published on Thu September 27, 2012 9:59 am

A small solar power company hopes to become a winner in a market littered with losers.

San Jose, Calif.-based SoloPower is opening a $60 million manufacturing facility in Portland, Ore., Thursday as it works toward receiving a major government loan — like the one given to now-bankrupt Solyndra. SoloPower thinks it has a strategy to succeed where Solyndra failed.

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The Salt
3:44 pm
Mon September 17, 2012

Shriveled Mich. Apple Harvest Means Fewer Jobs, Tough Year Ahead

A lonely Michigan apple.
Noah Adams NPR

Originally published on Tue September 18, 2012 2:42 pm

An apple a day might keep the doctor away, but what do you do when there are no apples? It's a question western Michigan's apple growers are dealing with this season after strange weather earlier in the year decimated the state's apple cultivation.

Michigan is the third-largest apple producer in the U.S. after New York and Washington, but the state's apples will soon be in short supply. Now in the middle of harvest season, growers are picking only 10 percent to 15 percent of their normal crop.

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The Two-Way
8:31 am
Mon September 17, 2012

White House Launching Trade Complaints Against China

A worker inspects auto parts at a factory in Chengdu, China. (2005 file photo.)
China Photos Getty Images

Originally published on Mon September 17, 2012 1:10 pm

"The White House Monday will demand through a world trade panel that China stop subsidizing auto parts made for export," reports Cleveland's Plain Dealer.

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Economy
4:24 am
Fri September 14, 2012

Discouraged In Hunt For A Job, Many Stop Looking

A job fair was held at the The Walter E. Washington Convention Center in Washington, D.C., last month. The U.S. unemployment rate declined in August in part because the number of "discouraged workers" climbed.
Chip Somodevilla Getty Images

Originally published on Fri September 14, 2012 11:43 am

The U.S. population is growing. In normal times, the labor force — working or not — would be growing too. But these are not normal times, and the labor force is actually smaller than it was four years ago, meaning millions of people who should be there aren't.

The reasons people drop out of the workforce are myriad. People go back to school. Others have health issues or family priorities that keep them from looking for work. But some stop looking because they are discouraged.

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12:56 pm
Thu September 13, 2012

Thinking Beyond Fixed-Income Investments

Lead in text: 
I hope you enjoy my video this month on fixed-income investments. Back in the old days, people would say, "Well, as we approach retirement, we have more in bonds and CD's because that provides us with a steady flow of income." Well today, with interest rates as low as they are, you can't survive on income that's in the 1.5 to 2% range. I believe that you have to look at alternatives. I'd be glad to speak to you personally about your financial investment needs and concerns. Please contact me at 614-888-2121 or send an e-mail to chornyak@chornyak.com.
Today, with interest rates at 60-year lows, it's extremely difficult to get the income that we need from traditional types of fixed-income investments. For example, dividend-paying stocks may provide an income stream that is higher than today's fixed-income bonds. You can't just look at income in a vacuum, you have to consider the impact of inflation and taxes.
All Tech Considered
8:34 am
Wed September 12, 2012

Do iPhone Announcements Get More Attention Than They Deserve?

There will be a lot of questions about the iPhone 5 before its release Wednesday. Less popular among them: Why do we care so much?

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The Two-Way
9:27 am
Mon September 10, 2012

Government To Sell Controlling Interest In Bailed-Out AIG

Originally published on Mon September 10, 2012 9:59 am

Remember the dark days of 2008 when insurer American International Group Inc., better known as AIG, nearly collapsed under the weight of the mortgage crisis before Washington rode to the rescue to the tune of $182 billion?

Then there was the public outrage when AIG executives got millions in bonuses after receiving the largest of all of the Wall Street bailouts.

Since then, the New York-based insurance giant has been essentially a government-owned enterprise, with Uncle Sam holding a controlling share.

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The Two-Way
12:27 pm
Fri September 7, 2012

High Unemployment & Slow Job Growth: Likely News From Today's Report

At a job fair in San Diego this week, Navy Sailor E-5 Cedric Washington spoke to Sim Garriotti from Lockheed Martin while interviewing for a potential position.
Sandy Huffaker Getty Images

Originally published on Fri September 7, 2012 10:34 am

The number of jobs on private and public payrolls grew by just 96,000 in August from July, the Bureau of Labor Statistics said this morning.

Meanwhile, the nation's unemployment rate edged down to 8.1 percent from 8.3 percent the month before. Often, the jobless rate dips even when employment growth is weak because the size of the labor force shrank as many Americans gave up looking for work.

It's a report that will surely add to the presidential campaign rhetoric.

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Business
3:21 am
Wed September 5, 2012

'Quite Good' May Not Be Good Enough For GM

The General Motors logo is displayed atop the Renaissance Center in Detroit. The automaker, while doing much better following the government bailout, is still lagging some of its competitors.
Carlos Osorio AP

Originally published on Wed September 5, 2012 4:54 pm

When you talk to car people about General Motors, they all say the company has gotten better.

"I think General Motors, productwise, is in a better position than it's been in a decade or so," says Jack Nerad of Kelley Blue Book. "The new products, we feel ... are all quite good."

Like many people, however, Nerad adds an important caveat. He says GM's improvement doesn't mean the company is completely out of the woods, because the competition is very good as well.

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The Salt
2:07 pm
Tue September 4, 2012

McDonald's Goes Vegetarian — In India

Even this Maharaja Mac, made specifically for the Indian market, will be off the menu at the new vegetarian McDonald's in India.
kawanet Flickr.com

Originally published on Wed September 19, 2012 4:13 pm

McDonald's, home of the iconic Big Mac, is going vegetarian. Well, at least in India, where 20 to 42 percent or more of the population (depending on how you count) eschews meat, according to the Food and Agriculture Organization.

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The Salt
8:53 am
Mon September 3, 2012

No More Shame: Boxed Wine Now Comes In A High-End Fashion Purse

Vernissage is trying to revamp boxed wine to attract a more sophisticated customer.
Vernissage

Originally published on Wed September 19, 2012 4:14 pm

Ladies, if the thought of showing up at a party or a picnic with a box of wine seems a little gauche, there's now a product for you: Vernissage's "bag-in-a-bag" of wine. It's boxed wine, shaped like a handbag.

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The Two-Way
8:53 am
Wed August 29, 2012

U.S. Economy Grew At 1.7 Percent Annual Rate In Second Quarter

The Bureau of Economic Analysis revised its GDP numbers today, saying that during the second quarter of this year, the United States economy grew at a 1.7 percent annual rate.

That's up from its original estimate of 1.5 percent.

The BEA reports:

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