Originally published on Fri April 12, 2013 11:56 am
A severance package of $20 million might have seemed reasonable to American Airlines CEO Tom Horton, but a U.S. bankruptcy judge says it's too much.
The proposed payout, part of a deal that would merge American parent AMR and US Airways Group, first caught the attention of U.S. Trustee Tracy Hope Davis, a Department of Justice official monitoring AMR's Chapter 11 bankruptcy.
And our last word in business today is, what do you want on your burger? The CEO of Burger King Worldwide is stepping down. Forty-three-year-old Bernardo Hees has been wearing the Burger King crown since 2010, when the fast food chain was bought out by 3G Capital.
In Los Angeles, a former partner at KPMG, one of the big four accounting firms, has been charged with insider trading.
As NPR's Nina Gregory reports, Scott London is accused of trading tips for money and gifts.
NINA GREGORY, BYLINE: The details in the Justice Department's criminal complaint against Scott London read like bad fiction. Bags of hundred dollar bills wrapped in $10,000 bundles, a Rolex worth an estimated twelve-thousand dollars, secrets shared at the country club and covert recordings of phone calls.
A top executive at News Corp. dropped a bombshell this week when he said the company is considering taking Fox's over-the-air network to cable. The announcement follows a court win for a startup company that streams broadcast channels online.
That startup's CEO, arguably the most feared man in television right now, is soft-spoken and rather techy.
The tax code is full of complicated loopholes and deductions that require professional translation. So I called a bunch of accountants and tax lawyers and asked them: What are your favorite, most confusingly named deductions — and what do they actually mean?
Intangible Drilling Costs
"The government will pay you to dig a hole in the ground," says Howard Rosen, a CPA in St. Louis. "You can write it all off immediately."
Passersby watch share prices spike in Tokyo on April 4, the day Japan's central bank announced a massive purchase of government bonds. The bank hopes the scale of the effort will boost Japan's slow-moving economy.
Currency traders were stunned last week by aggressive action from Japan's central bank. The Bank of Japan embarked on a bond-buying program that, by one measure, is twice the size of the extraordinary moves by Ben Bernanke and the Federal Reserve in the United States. The BOJ's move is an effort to shock the Japanese economy out of more than a decade of sluggish growth and deflation.
From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.
MELISSA BLOCK, HOST:
And I'm Melissa Block.
More than three million cars and trucks worldwide are being recalled. Honda, Toyota, BMW, Mazda, Nissan, and Pontiac all say some of their vehicles made between 2001 and 2003 could potentially have faulty airbags.
Originally published on Mon April 15, 2013 3:38 pm
For years, undercover videos documenting animal cruelty at farms and slaughterhouses have cast the nation's meat and dairy farmers in a grim light.
In response, the livestock industry supported legislative efforts in multiple states designed to keep cameras from recording without permission in livestock plants. The Salt reported on these efforts, which activists call "ag gag" bills, last year.
Originally published on Thu April 11, 2013 5:08 pm
It's going to cost more to bail out Cyprus than originally projected, with officials now saying the cost will be $30 billion instead of the original estimate of $23 billion.
"It's a fact the memorandum of November talked about 17.5 billion [euros] in financing needs. And it has emerged this figure has become 23 billion [euros]," government spokesman Christos Stylianides was quoted by the BBC as saying on Thursday.
In the 1920s, a man passing through Washington, D.C., noticed something about the city in September: It was sweltering, and there were few places to seek relief. He figured you could make a lot of money selling ice-cold drinks.
That first business venture set J.W. "Bill" Marriott Jr. on a road to riches.