Business & Education

It's All Politics
3:09 pm
Tue October 8, 2013

House GOP's Latest Idea: A Fiscal Supercommittee, Sort Of

Rep. Pete Sessions (R-Texas) at the hearing where he discussed his bill to create a bipartisan committee to tackle fiscal issues.
C-SPAN screen shot

Originally published on Tue October 8, 2013 3:56 pm

The latest House GOP gambit in the fiscal fight is ... wait for it ... a supercommittee.

But Republicans aren't calling it a supercommittee since that's the term for the failed panel that brought us the the sequester.

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Your Money
11:09 am
Tue October 8, 2013

Pyramid Schemes: If It Looks Too Good To Be True, It Probably Is

Transcript

MICHEL MARTIN, HOST:

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It's All Politics
11:06 am
Tue October 8, 2013

D.C. Bars And Restaurants Feel Shutdown Squeeze

Originally published on Tue October 8, 2013 2:14 pm

Federal employees aren't the only ones feeling the heat in Week 2 of the government shutdown.

D.C. bars and restaurants are also getting nervous about just how long their customers will be out on furlough — and how that might dent their bottom line. While attendance at local happy hours was up in the past week, according to some reports, there are serious concerns about whether that can last with so many government workers sent home.

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The Government Shutdown
10:59 am
Tue October 8, 2013

Obama's Absence At Asia Summit Seen Hurting U.S. Trade

Indonesian President Susilo Bambang Yudhoyono speaks Tuesday at the Asia-Pacific Economic Cooperation summit on the Indonesian resort island of Bali. President Obama missed the meeting due to the budget impasse in Washington.
Beawiharta/Pool EPA/Landov

Originally published on Tue October 8, 2013 2:49 pm

Imagine a poker table.

At one seat, China's President Xi Jinping studies his cards. At another, Russian President Vladimir Putin is stroking his chin. Asian leaders fill the other seats, each trying to win the pot, which is filled — not with poker chips — but with jobs.

That's the kind of high-stakes game that played out this week in Indonesia, where global leaders got together to discuss trade relations. Their gathering ended Tuesday, and exactly who won what is not yet clear.

But this much is known: President Obama was not at the table.

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The Two-Way
7:11 am
Tue October 8, 2013

Senate Democrats Could Set Up Test Vote On Debt Ceiling

Senate Majority Leader Harry Reid of Nevada speaks at a news conference last week on the government shutdown.
Win McNamee Getty Images

Originally published on Tue October 8, 2013 10:14 am

Senate Democrats might introduce a measure to raise the debt ceiling, even as the debate over a spending bill to restart the federal government drags on.

The Associated Press reports:

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It's All Politics
7:05 am
Tue October 8, 2013

Tuesday Morning Political Mix

Despite all the warning signs, U.S. leaders continue to barrel toward a debt default with no one yet willing to step on the brakes.
SAUL LOEB AFP/Getty Images

Originally published on Tue October 8, 2013 7:18 am

Good morning, fellow political junkies. It's Day 8 of the partial shutdown of the federal government. Among the only certainties: many federal workers are a day closer to missing a paycheck and the nation is a day closer to hitting the debt ceiling.

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Around the Nation
3:37 am
Tue October 8, 2013

Anxious St. Louis Businesses Want Shutdown To End

Originally published on Tue October 8, 2013 7:26 am

Transcript

RENEE MONTAGNE, HOST:

In our continuing coverage of the impact of the partial government shutdown, we head now to St. Louis. It's home to around 25,000 federal workers, and many of them are wondering when they'll get back to work. So too are the many small businesses that rely on those workers as customers. St. Louis Public Radio's Tim Lloyd has more.

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Politics
3:37 am
Tue October 8, 2013

Democrats Focus Government Shutdown Blame On Boehner

Originally published on Tue October 8, 2013 7:26 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

And the partial government shutdown has brought intense attention to House speaker John Boehner. He's working to keep Republicans united in a battle against President Obama.

INSKEEP: People close to Boehner have made it clear he did not want this fight. But urged by other lawmakers, Boehner dug in, insisting that President Obama must negotiate.

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Business
3:37 am
Tue October 8, 2013

Measure To Fix 'Pint-Size' Problem In Michigan

Originally published on Tue October 8, 2013 7:26 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is pint-sized.

A bill introduced in Michigan would require that pints of beer be actual pints of beer - that is a full 16 ounces.

RENEE MONTAGNE, HOST:

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Business
3:37 am
Tue October 8, 2013

Job Cuts In The Works At Alcatel-Lucent

Originally published on Tue October 8, 2013 7:26 am

Transcript

STEVE INSKEEP, HOST:

NPR business news begins with high-tech job cuts.

(SOUNDBITE OF MUSIC)

INSKEEP: The French and American telecommunications manufacturer, Alcatel-Lucent, confirmed this morning it plans to cut 10,000 jobs worldwide. A company statement said 2,100 of those cuts will be from its operations in North and South America.

Now Alcatel-Lucent has been losing money for years. About a quarter of its staff are based in the United States, where the company runs the Nobel Prize-winning Bell Labs research facility.

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Research News
3:37 am
Tue October 8, 2013

Theorists Compare Government Shutdown To A Not-So-Fun Game

Originally published on Tue October 8, 2013 7:26 am

Transcript

STEVE INSKEEP, HOST:

So, we're in the second week of the government shutdown, and just over a week from now, federal borrowing authority expires, making it possible the federal government could fail to pay many of its legal obligations that Congress previously approved. At the center of both issues is House Speaker John Boehner, who last week accused Democrats of letting the shutdown continue because Democrats felt they were winning.

REPRESENTATIVE JOHN BOEHNER: This isn't some damn game.

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Law
3:37 am
Tue October 8, 2013

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 7:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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Around the Nation
2:05 am
Tue October 8, 2013

Phase 2 Of BP Trial Focuses On Amount Of Spilled Oil

The Deepwater Horizon oil rig is seen burning in the Gulf of Mexico in April 2010. A second phase of the BP trial, which started this week, looks at just how much oil spilled into the Gulf.
Gerald Herbert AP

Originally published on Tue October 8, 2013 11:48 am

In a New Orleans courtroom this week, BP and the federal government are arguing over how much oil gushed into the Gulf of Mexico after the Deepwater Horizon explosion in 2010.

Oil flowed from the out-of-control well for nearly three months. Just how much oil spilled will be key in determining the amount BP will have to pay in federal fines and penalties.

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Economy
4:51 pm
Mon October 7, 2013

In A Debt Crisis, U.S. May Have To Decide Payment Priorities

House Republicans have proposed directing the Treasury Department to pay bondholders first if there is not enough money available to pay all the nation's debts.
Carolyn Kaster AP

Originally published on Wed October 9, 2013 11:02 am

The government is just 10 days away from defaulting on its debt. Treasury Secretary Jack Lew has said that by Oct. 17, the department will likely have less money on hand than it needs to pay all its bills.

"The reality is that if we run out of cash to pay our bills, there is no option that permits us to pay all of our bills on time, which means that a failure of Congress to act would for the first time put us in a place where we're defaulting on our obligations as a government," Lew said on NBC's Meet The Press on Sunday.

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Business
3:20 pm
Mon October 7, 2013

Japanese Airlines Makes Deal To Buy Airbus Planes

Originally published on Tue October 8, 2013 10:18 am

Transcript

MELISSA BLOCK, HOST:

Japan Airlines stunned the aviation world today by announcing that for the first time in the company's history, it will buy new wide-bodied jets from Airbus, the European aircraft manufacturer. The deal is worth billions and it's a big setback for Boeing, which has long dominated the Japanese aviation market. NPR's David Schaper reports.

DAVID SCHAPER, BYLINE: Airbus president and CEO Fabrice Bregier was positively beaming in Tokyo this morning in an interview with financial network CNBC.

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