Business

Business
8:49 am
Thu March 13, 2014

Overtime Pay Proposal Triggers A New Debate About Wages

Economists are divided about the White House plan to boost overtime pay for workers.
Doug Finger Gainesville Sun/Landov

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.

Which scenario is right?

Read more
Business
6:00 pm
Mon March 10, 2014

Colorado Collected $2.1 Million In January Taxes On Recreational Pot

Marijuana is stored in bins for trimming and packaging in preparation to be sold retail at 3D Cannabis Center, in Denver.
Brennan Linsley AP

Originally published on Mon March 10, 2014 6:38 pm

For the first time since it legalized recreational marijuana, Colorado is releasing revenue figures: The state made $3.5 million in taxes and fees in January.

As KUSA-TV reports, $2.1 million of that came from the sale of recreational pot and $1.4 million came from medical marijuana.

KUSA adds:

Read more
Financial Perspectives
12:41 pm
Fri March 7, 2014

A Lesson in Being Patient

Chornyak & Associates

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.

Business
7:06 am
Tue February 25, 2014

Bitcoin Exchange Mt. Gox Goes Dark After Theft Report

Kolin Burges, a self-styled cryptocurrency trader and former software engineer, was among a small number of protesters outside the Tokyo offices of bitcoin exchange Mt. Gox on Tuesday.
Toru Hanai Reuters/Landov

Originally published on Wed March 5, 2014 4:10 pm

"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.

Also Tuesday, all the posts had been erased from the Mt. Gox Twitter account.

Read more
Business
10:24 am
Mon February 24, 2014

Making The Coffee Shop Your Office, Without The Guilt

iStockphoto

Originally published on Sat February 22, 2014 7:18 pm

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.

Read more
Business
10:23 am
Mon February 24, 2014

Moviefone To Go Silent, App Will Continue

Originally published on Mon February 24, 2014 7:34 am

Transcript

RENEE MONTAGNE, HOST:

NR business news starts with good-bye movie phone.

(SOUNDBITE OF MUSIC)

Business
9:45 am
Fri February 21, 2014

Apple's Steve Jobs To Be Featured On U.S. Postage Stamp

Apple founder Steve Jobs, who died in 2011, is slated to be featured on a U.S. postage stamp next year.
Terry Schmitt UPI/Landov

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.

Read more
Business
3:32 am
Fri February 21, 2014

Duke: $60,000 A Year For College Is Actually A Discount

Students attend graduation ceremonies at the University of Alabama in Tuscaloosa, Ala. Two-thirds of college students now graduate with debt, owing an average amount of $24,000.
Butch Dill AP

Originally published on Fri February 21, 2014 10:36 am

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.

Read more
Business
11:48 am
Thu February 20, 2014

What It Was Like To Be A Wall Street Recruit After The Bailouts

John Angelillo UPI/Landov

Originally published on Thu February 20, 2014 10:05 am

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.

Read more
Business
6:45 am
Thu February 13, 2014

Will Comcast Get Federal OK To Buy Time Warner?

Gene J. Puskar AP

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:

Politico writes that:

Read more
Business
6:24 pm
Tue February 11, 2014

Going To College May Cost You, But So Will Skipping It

A new study shows that the income gap between young adults who go to college and those who don't only continues to grow.
iStockphoto

Originally published on Tue February 11, 2014 8:00 pm

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.

Read more
Chornyak & Associates
5:56 pm
Tue February 11, 2014

Preparing Your IRS Forms

Chornyak Assoc.

Preparing your IRS forms? Commonwealth Financial Network gives you a sound introduction on what changes are in place for 2013 and what we can expect in 2014.

Read more
Business
5:55 pm
Tue February 11, 2014

Graco Recalls Nearly 3.8 Million Child Car Seats

The My Ride 70 was one of the models recalled by Graco.
Graco

Originally published on Tue February 11, 2014 7:24 pm

Graco is recalling nearly 3.8 million car seats because buckles may be hard to release, posing a danger in the case of an accident.

The AP reports that despite the massive recall, which involves 11 models sold from 2009 through 2013, the National Highway Transportation Safety Administration is unhappy with the company.

Read more
Business
3:22 am
Thu February 6, 2014

Amtrak Fights Big Oil For Use Of The Rails

Amtrak trains on the Empire Builder route, which stops in Williston, N.D., have been facing long delays.
Shannon Stapleton Reuters/Landov

Originally published on Thu February 6, 2014 12:03 pm

Oil business in North Dakota is creating some big headaches for Amtrak travelers. Trains on the popular Empire Builder route between Chicago and the Pacific Northwest are often delayed for hours.

One reason for the congestion is an influx of trains hauling crude oil across the Northern Plains.

The delays are becoming so bad that a passenger group now wants the U.S. transportation secretary to intervene.

Frozen Before Ice Fishing

Read more
Business
10:38 am
Mon February 3, 2014

The High Cost Of Testing For College

Originally published on Sun February 2, 2014 12:00 am

Transcript

SCOTT SIMON, HOST:

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.

BENJAMIN TONELLI: Of course, of course.

Read more
Business
10:32 am
Mon February 3, 2014

Jury To Get Insider Trading Case Of Matthew Martoma

Originally published on Mon February 3, 2014 7:43 am

Transcript

RENEE MONTAGNE, HOST:

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 Jim Zarroli has more.

Read more
Business
10:32 am
Mon February 3, 2014

United Airlines To Close Cleveland Hub

Originally published on Mon February 3, 2014 7:43 am

Transcript

STEVE INSKEEP, HOST:

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.

Business
6:44 pm
Sun February 2, 2014

Obama's State Of The Union And Your Economic Reality

President Barack Obama looks at a crank shaft as he tours General Electric's Waukesha Gas Engines facility on Thursday in Waukesha, Wis. as part of a four-stop tour he is making to expand on themes from his State of the Union address, including the economy.
AP

Originally published on Mon February 3, 2014 7:20 am

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.

Read more
Business
11:13 am
Tue January 21, 2014

Workers May Be Missing, Or Maybe Just Retiring

Is the economy strengthening, or is the jobless rate falling only because so many people are dropping out of the workforce?
iStockphoto

Originally published on Tue January 21, 2014 12:52 pm

For more than four years, the unemployment rate has been sliding down — from a 10 percent peak to today's 6.7 percent.

But does that reflect a fast-strengthening economy? Or is the rate falling only because so many people are dropping out of the workforce?

In coming weeks, members of Congress and the Federal Reserve Board will be making big policy decisions based upon their best understanding of those unsettled questions.

Read more
Business
3:39 am
Fri January 17, 2014

The Birth Of The Minimum Wage In America

Franklin D. Roosevelt Libarary

Originally published on Fri January 17, 2014 4:46 pm

In 1895, legislators in New York state decided to improve working conditions in what at the time could be a deadly profession: baking bread.

"Bakeries are actually extremely dangerous places to work," says Eric Rauchway, a historian at the University of California, Davis. "Because flour is such a fine particulate, if it gets to hang in the air it can catch fire and the whole room can go up in a sheet of flame."

Read more

Pages