Business

Business
3:24 am
Fri December 14, 2012

Why A Principal Created His Own Currency

David Kestenbaum NPR

Originally published on Fri December 14, 2012 2:43 pm

Shawn Rux took over as principal of MS 53, a New York City middle school, last year. At the time, 50 or 60 kids were absent every day. You could understand why they stayed away: The school was chaos.

Twenty-two teachers had quit, the entire office staff had quit, and hundreds of kids had been suspended. The school was given a grade of F from the city's department of education.

"It was in a bad place," Rux says.

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Business
3:17 am
Fri December 14, 2012

Farewell, Bosses: A Wave Of Young Entrepreneurs

To save money, 30-year-old Alisha Mustafa runs her small pie-making business out of the kitchen of another restaurant.
Mustafa Pie Co.

Originally published on Fri December 14, 2012 5:33 am

Thirty-year-old Alisha Mustafa spent years working at low-paying restaurant jobs. The unemployment rate hovers around 10 percent in her hometown of Bloomington, Ind.

"I've worked it all in this town," she says. "I've worked for so many restaurants, and last year was my year from hell in the industry."

So, she quit and started her own business. Now, she spends most days baking treats like gluten-free strawberry mango pie for her business, Mustafa Pie Co.

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Business
6:00 pm
Wed December 12, 2012

Who Needs College? Young Entrepeneuer Bets On Bright Idea For Solar Energy

Eden Full took time off from her studies at Princeton University to work on her startup full time, after being selected for the inaugural class of the 20 Under 20 Thiel Fellowship.
Della Rollins

Originally published on Thu December 13, 2012 10:44 am

Eighteen months ago Eden Full was finishing up her sophomore year at Princeton University. She was on the crew team as a coxswain. She had spent the previous summer in Kenya building an innovative, low-cost contraption to make solar panels more efficient.

Full was glowingly successful — the kind of college student who ends up profiled in alumni magazines.

But Full had decided to drop out.

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Financial News
5:31 pm
Mon December 10, 2012

News from Chornyak & Associates

We at Chornyak & Associates wish our clients and friends all of the joys that the holiday season has to offer.  Let's all put aside our concerns for the country's financial future and have a truly peaceful and festive season with friends and family!  Columbus offers lots of holiday activities to extend the celebration outside the home.  

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Business
9:20 am
Mon December 3, 2012

Murdoch's News Corp. Shuts Down 'The Daily'

News Corp. CEO Rupert Murdoch in February 2011, when The Daily was launched. Now, it's in shutdown mode.
Spencer Platt Getty Images

Originally published on Mon December 3, 2012 10:01 am

Saying that "we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term," News Corp. CEO Rupert Murdoch said this morning that The Daily will "cease standalone publication" on Dec. 15.

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Business
3:26 am
Thu November 8, 2012

Opening Lines Set For A Deal To Avoid Fiscal Cliff

Speaker John Boehner, R-Ohio, said Wednesday that House Republicans are willing to accept new revenues "under the right conditions."
J. Scott Applewhite AP

Originally published on Thu November 8, 2012 4:50 pm

With the election over, attention in Washington has turned to the nation's debt and deficit challenges — most immediately the looming fiscal cliff. That's the $600 billion worth of expiring tax breaks and automatic spending cuts set to start taking effect Jan. 1.

The president and Congress agreed to those automatic measures to force themselves to find a more palatable compromise to rein in deficits. On Wednesday, there was an attempt to jump-start that process.

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Financial
4:13 pm
Tue November 6, 2012

Fiscal cliff or bridge to the future?

Joe Chornyak discusses the "fiscal cliff" sometimes touted in the media, and its relationship to your investment portfolio.  

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Business
7:04 am
Fri November 2, 2012

Job Growth Beats Forecasts; Unemployment Rate Is 7.9 Percent

How many signs like this were there in October? We got a clue today.
Justin Sullivan Getty Images

Originally published on Fri November 2, 2012 11:37 am

The nation's unemployment rate edged up to 7.9 percent in October from 7.8 percent in September, the Bureau of Labor Statistics says.

But private and public employers added 171,000 jobs to their payrolls — nearly 50,000 more than economists had expected.

So the news is somewhat mixed: While the jobless rate remained stuck near 8 percent, job growth was better than forecast.

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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

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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