NPR's business news starts with a change of guard at the Fed.
(SOUNDBITE OF MUSIC)
GREENE: The Senate is set to vote on Janet Yellen's nomination today. She is President Obama's pick to succeed Ben Bernanke as the chairman of the Federal Reserve. If Yellen is confirmed as expected, she'll take over for Bernanke at the end of this month.
OK. Our last word in business is: ski tweeting. Is that really a thing?
Well, the Australian Olympic Committee has placed a social media ban on its athletes at the Sochi Winter Games coming up in Russia. Tweeting, Facebooking and Snap-chatting join partying as officially forbidden activities.
Winter athletes can thank their summer colleagues for the new social media ban. The country's Olympic committee came up with the rule after a disappointing showing by the Australian swim team during the London Summer Games.
We've known for some time, that having more education usually leads to higher pay. Well, now a study suggests that the advantage persists even into retirement years, in part because those with more education tend to stay in the workforce longer.
NPR's Ina Jaffe covers aging and she has this story.
INA JAFFE, BYLINE: For people in their late 60's or 70's or beyond, college might seem like a long time ago. But the impact persists, says study co-author Heidi Hartmann.
It's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.
Russia is spending $51 billion on the Sochi Winter Olympics, the most expensive Olympic Games ever by a wide margin. The preparations have not gone smoothly. Construction has been delayed repeatedly and marred by accusations of political corruption. The outlandish price tag for the games has turned into an embarrassment for Russian officials.
Huntsville Mayor Tommy Battle is calling Boeing a significant community partner after the city lost its bid to build the company's new 777X jetliner.
Huntsville was among more than 50 sites in 22 states whose leaders tried to convince Boeing to open its $10 billion assembly plant in their communities. Al.com reports the manufacturing operation will support an estimated 8,500 jobs.
That manufacturing plant will be located in Everett, Wash.
There were "cheers and jeers" from rank-and-file union members late Friday when it was announced that a key new contract with aircraft maker Boeing had been approved by a bare majority vote, our colleagues at Seattle's KPLU report.
When the North American Free Trade Agreement was being negotiated, supporters promised it would increase the income of Mexicans. And the middle class did grow in Mexico over the past two decades. But it's clear that Mexico's ultrarich are among its big winners.
Originally published on Fri January 3, 2014 12:58 pm
Ford and GM are calling 2013 the best year for U.S. auto sales in at least five years. On Friday, they reported double-digit annual gains, while Chrysler reported an increase of 9 percent for its strongest year since 2007.
The new sales figures reflect a continuing turnaround from the struggles that led to a federal bailout in recent years. Here are highlights from each company's report:
Retail sales were up 14 percent in 2013, as Ford sold 2,493,918 vehicles.
Minimum wage workers in 13 states will see a bump in their paychecks this year. Host Michel Martin talks about the possible ripple effects of raising minimum wages. She's joined by Bloomberg Businessweek contributor Roben Farzad and NPR Senior Business Editor Marilyn Geewax.
NPR's business news begins with securing cyberspace.
(SOUNDBITE OF MUSIC)
GREENE: All right, we're talking about a $1 billion deal here. The cybersecurity company FireEye has bought Mandiant. Mandiant gained some fame last year. They exposed a secretive branch of the Chinese military that was hacking into the computer networks of over 100 multinational companies.
Recreational marijuana has been on sale in Colorado for a couple days now. And pot shops there have been surprised by the long lines of customers. Many people have been coming in from out of state hoping to be among the first to buy recreational pot legally.
But as Colorado Public Radio's Ben Markus reports, tourists are finding there are few legal places to smoke it.
And a vote takes place today that could have a major impact on the economy in and around Seattle. The giant airplane maker Boeing is threatening to move thousands of jobs away from the Seattle region unless 30,000 unionized Boeing workers vote to accept cuts to retirement and health benefits.
Ashley Gross of member station KPLU has the story.