Business

The Two-Way
4:13 pm
Fri July 27, 2012

Google Admits It Did Not Delete Data Taken From Wi-Fi Devices

The camera mounted on a Google Street View car used to photograph whole streets obscures part of the U.S. Internet giant's logo.
Daniel Mihailescu AFP/Getty Images

We told you before about the Google Street View vehicles that illegally collected data from unprotected Wi-Fi devices while they took pictures of the streets in Europe, Australia and the United States.

Read more
The Two-Way
7:38 am
Fri July 27, 2012

Did Economy Slow Further In Second Quarter? We Find Out Today

Originally published on Fri July 27, 2012 10:01 am

The economy grew at a sluggish 1.5 percent annual rate in the second quarter, the Bureau of Economic Analysis reported this morning, down from a 2 percent pace in the first quarter.

This is the bureau's first estimate of GDP growth in the spring months. It will revise the figure twice in coming months. It's now 8:33 a.m. ET. We'll have more about the report shortly.

Update at 10 a.m. ET. The White House Points To String Of Positive Quarters:

Read more
Planet Money
1:13 am
Fri July 27, 2012

How To Set Up An Offshore Company

Lam Thuy Vo / NPR

Originally published on Thu August 2, 2012 2:51 pm

Setting up an offshore company in a tax haven is surprisingly easy. A simple Google search offers up thousands of companies willing to help you do it.

Read more
U.S.
4:34 pm
Thu July 26, 2012

Bypassing College Dreams, A Different Road To Work

Kelly Thompson, a mentor at Siemens, gives apprentices an orientation of the factory. The program provides on-the-job training in manufacturing.
Courtesy of Siemens Energy Inc.

Originally published on Fri July 27, 2012 5:10 pm

Rebeca Espinal admits with a shy smile that she's a straight-A math student. She's a high school graduate who dreamed of going to college.

Instead, Espinal, 17, is working in a Charlotte, N.C., factory that makes gas turbines and generators. She is an apprentice with the German company Siemens.

"I was planning on getting a degree in international relations, but with financial aid and how difficult it is to pay for college and everything," she says. "So when Siemens came along and gave me the offer, it was too good of an opportunity to just let it go.

Read more
Planet Money
7:22 pm
Tue July 24, 2012

Apple Just Made $9 Billion (And Investors Are Mad)

Daniel Hennemand (photogestion) Flickr

Originally published on Thu July 26, 2012 10:30 am

Apple reported its financial results for the quarter ended June 30, and depending how you look at it, they're either amazing or disappointing.

The company says it made $8.8 billion in profits over the course of three months. That's more than enough to buy every share of Alcoa, the global aluminum giant, which was worth just under $8.6 billion when the stock market closed this afternoon.

Read more
Technology
5:14 am
Mon July 23, 2012

Silicon Valley Boot Camp Aims To Boost Diversity

As part of the New Media Entrepreneurship camp, participants paid a visit to Google.
Joshua Cassidy KQED

Originally published on Wed July 25, 2012 2:30 pm

If there is a founding ethos in the world of high-tech startups, it's this: The idea is everything. Facebook's initial public offering might have seemed like the perfect illustration. A simple concept, conceived by a college student, became a $100 billion empire in just 8 years.

Read more
The Salt
5:19 pm
Thu July 19, 2012

As Drought Kills Corn, Farmers Fight Over Ethanol

Stunted corn grows in a field next to a cattle feed lot in rural Springfield, Omaha, Neb.
Nati Harnik AP

We often talk about the "farm lobby" as though farmers spoke with a unified voice. And it's true, they usually try to.

But an unusually bitter and public fight is breaking out right now between the farmers who grow corn and other farmers who need to buy that corn.

Read more
The Two-Way
1:42 pm
Mon July 16, 2012

Stephen Covey, Author Of '7 Habits,' Dead At 79

Stephen R. Covey, the motivational speaker best known for the book The Seven Habits of Highly Effective People, died Monday in Idaho three months after a serious bicycle accident in Utah. He was 79.
Ric Feld AP

Originally published on Mon July 16, 2012 3:02 pm

Stephen Covey, whose book 7 Habits of Highly Effective People became a seminal guide to leadership, died this morning.

In a statement, the family said Covey died due the "residual effects" of a biking accident he suffered in April. He was 79.

The Salt Lake Tribune gives us a bit of his biography:

Read more
The Two-Way
8:49 am
Mon July 16, 2012

Retail Sales Dip For Third Straight Month, But Are Still Up From Year Earlier

The bad news: Retail sales fell 0.5 percent in June from May, the Census Bureau says. It's the third straight month that sales have been down from the month before.

But, Census adds that June sales were 3.8 percent above the pace of June 2011. And, "sales for the April through June 2012 period were up 4.7 percent ... from the same period a year ago."

Read more
Business
5:04 pm
Thu July 12, 2012

What you need to know about Health Savings Accounts & more

Joseph Chornyak, Sr.
Chornyak & Associates

HSAs or Health Savings Accounts can provide significant tax deductions as well as help you deal with rising health care costs. However, they are not for everyone.  Please read this month's lead article to learn if an HSA makes sense for your family.

Read more
4:40 pm
Thu July 12, 2012

Volatility: the New Reality

Lead in text: 
In my recent travels I've spoken with portfolio managers, analysts, and researchers from a wide variety of disciplines. The consensus of opinion is that we will continue to face market volatility as we move forward. Active portfolio management emphasizes diversification, focus, and a long-term perspective. ~ Joseph Chornyak, Sr.
While it may appear as though though there's a buy-and-hold strategy behind portfolio strategies today, what's really happening is that sound investing principles, those principles that have stood the test of time, are still in play.
The Two-Way
2:58 pm
Thu July 12, 2012

Wells Fargo Agrees To $175 Million Settlement Over Lending Discrimination

Wells Fargo has denied claims of lending discrimination and said it's settling "solely for the purpose of avoiding contested litigation with" the Justice Department
Karen Bleier AFP/Getty Images

Wells Fargo Bank agreed to pay at least $175 million Thursday to resolve allegations it discriminated against black and Latino home buyers, in what the Justice Department called the second largest settlement over fair lending violations.

Read more
Planet Money
3:40 pm
Wed July 11, 2012

The Value Of Taxing The Wealthy: $56 Billion

Lam Thuy Vo / NPR

Originally published on Thu July 12, 2012 2:06 pm

The debate is back over what to do with the Bush tax cuts, which are scheduled to expire at the end of the year.

The Obama administration wants to extend them only for families earning less than $250,000 a year. Republicans generally favor extending them for everyone. What hangs in the balance are tax breaks for wealthier Americans.

Read more
The Two-Way
3:39 pm
Wed July 11, 2012

Surprise, San Bernardino! You're Bankrupt

San Bernardino City Hall
City of San Bernardino

Originally published on Wed July 11, 2012 10:02 am

Residents of San Bernardino woke up to suddenly find their city has been told "Do Not Pass Go, Do Not Collect $200." And oh, do they need money.

Read more
Planet Money
3:36 pm
Wed July 11, 2012

The Failure Of The Candy Tax

Originally published on Wed July 11, 2012 5:13 pm

Last week, we re-aired an episode recorded in 2010 with economist Joshua Gans, author of the book Parentonomics. In the episode, Gans' 11-year old daughter, B., told us about his technique for keeping her from spending too much allowance money on candy:

Read more
Economy
12:04 pm
Wed July 11, 2012

Did The Great Recession Bring Back The 1930s?

Thousands of unemployed people wait outside the State Labor Bureau in New York City to register for federal relief jobs in 1933.
AP

Originally published on Wed July 11, 2012 2:00 pm

The long economic downturn that began in late 2007 came to be known at the Great Recession –- the worst period since the Great Depression of the 1930s.

Even though both events were momentous enough to earn the word "great" as a modifier, they really are not comparable, according to recent research by economist Mark Vaughan, a fellow at the Weidenbaum Center on the Economy at Washington University in St. Louis.

Read more
Europe
4:20 pm
Tue July 10, 2012

'Vultures' Swoop In For Deals In Debt-Ridden Spain

A "For Sale" sign hangs outside mostly empty apartment blocks in the Madrid satellite town of Sesena in February. Banks are trying to sell billions of euros worth of property left by bankrupt developers. This is attracting bargain-hunting investors from abroad.
Andrea Comas Reuters/Landov

Originally published on Tue July 10, 2012 7:34 pm

Back in the day, Madrid's Palace Hotel was Ernest Hemingway's old haunt, or at least the bar was. Now, rooms at the posh hotel just down from the famed Prado Museum go for up to $6,000 a night. And gathering in its lobby these days? An altogether different type of foreigner: the kind in expensive suits.

"Probably they are institutional investors, hedge funds, sovereign wealth funds," says Federico Steinberg, an economist at Madrid's Elcano Institute.

There's a lot of cash around the world, he says, and a lot of people looking for bargains.

Read more
Your Money
5:03 pm
Sun July 8, 2012

Raising Minimum Wage: A Help Or Harm?

Wendy Brown of Schenectady, N.Y., holds a sign before an Occupy Albany rally pushing for a raise in New York's minimum wage on May 29, 2012.
Mike Groll AP

Originally published on Sun July 8, 2012 8:55 pm

Back in 1912, Massachusetts became the first place in America to introduce a minimum wage, but it would take another quarter century before a national minimum wage was set.

President Franklin Roosevelt made it law in 1938, that any hourly worker had to be paid at least 25 cents an hour. It was revolutionary, and very few countries had anything like it.

Read more

Pages