Business & Education

Business
3:03 am
Fri October 18, 2013

Van Halen Sues Over Use Of Band's Name

Originally published on Fri October 18, 2013 11:23 am

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

Our last word in business today is: "Ain't Talkin' 'bout Love."

It's a classic from Van Halen, a band that brings to mind blistering guitar solos and sold-out arenas.

RENEE MONTAGNE, HOST:

But baby blankets and armoires, probably not. That's the gist of a lawsuit filed by the band against drummer Alex Van Halen's ex-wife.

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Politics
3:03 am
Fri October 18, 2013

Conference Committee Charged With Budget Compromise

Originally published on Fri October 18, 2013 11:23 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION, from NPR News. Good morning. I'm David Greene.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

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Planet Money
2:26 am
Fri October 18, 2013

I Lent $999.78 To The Federal Government*

NPR

Originally published on Fri October 18, 2013 12:29 pm

Earlier this week, I bought a Treasury bill.

Everybody calls Treasury bills T-bills, and they work like this: The government promises to pay holders of T-bills a specific amount on a specific day in the near future. For the T-bill I bought, the government promised to pay $1,000 on Oct. 31.

I bought the T-bill on Tuesday, before Congress had made the debt-ceiling deal, so it was unclear whether I would get paid back on time.

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Author Interviews
2:18 am
Fri October 18, 2013

Greenspan: 'I Probably Could Have Caught' Economic Crises

Alan Greenspan served as chairman of the Federal Reserve from 1987 to 2006, the second-longest tenure as chairman in the Fed's history.
Courtesy of Alan Greenspan

Originally published on Fri October 18, 2013 11:23 am

Alan Greenspan was celebrated as a master of monetary policy during his long chairmanship of the Federal Reserve, from 1987 to 2006. But policies put in place during Greenspan's tenure have been blamed by some for the financial crisis that began shortly after he left, and the so-called Great Recession.

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Economy
5:01 pm
Thu October 17, 2013

Wilted Reputations Left By Shutdown And Default Threat

Traders work on the floor of the New York Stock Exchange on Wednesday, in New York City.
Spencer Platt Getty Images

Originally published on Fri October 18, 2013 4:35 pm

President Obama said Thursday that the government shutdown and threat of default did unnecessary damage to both the U.S. economy and the country's reputation abroad.

Standard & Poor's concluded that the disruption subtracted about $24 billion from the economy and is likely to trim more than half a percentage point off growth in the final three months of the year.

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The Two-Way
4:35 pm
Thu October 17, 2013

September Jobs Report To Come Out Tuesday

Following the economy can be confusing.

But at least one thing has long been certain: the Bureau of Labor Statistics will release its monthly jobs report at exactly 8:30 a.m. on a Friday.

Next week, Tuesday will feel like a Friday.

That's because late Thursday afternoon, the BLS updated its post-shutdown schedule for data releases. The new schedule shows that the long-delayed and much-anticipated September employment report will come out on Tuesday.

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Economy
3:13 pm
Thu October 17, 2013

Economists Fear 'Flying Blind' Without Government Data

The Federal Reserve headquarters in Washington, D.C., where the federal government shutdown left policymakers without key economic data.
J. David Ake AP

Originally published on Thu October 17, 2013 3:51 pm

Talk to economists about the government shutdown's impact on their forecasts and you'll hear this phrase again and again:

Flying blind.

For economists and investors, "at this moment, we are flying blind," said Alan Greenspan, former chairman of the Federal Reserve and now president of Greenspan Associates LLC, a consulting firm.

Greenspan is not alone in feeling a little lost without the compass of government reports.

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Planet Money
12:06 pm
Thu October 17, 2013

U.S. Is The World's Largest Producer Of Natural Gas. Here's What That Means

Quoctrung Bui

Originally published on Fri October 18, 2013 11:37 pm

Natural gas production in the U.S. is going through the roof. The U.S. now produces more natural gas than any country on Earth, according to a recent report from the U.S. Energy Information Administration.

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The Two-Way
10:39 am
Thu October 17, 2013

Obama Calls For Budget, Immigration Reform By Year's End

At the White House on Thursday, President Obama said "the American people are completely fed up with Washington."
Charles Dharapak AP

Originally published on Thu October 17, 2013 11:50 am

President Obama slammed the partisan standoff "spectacle" that he said had damaged the economy and America's international credibility, and called on Congress to pass a comprehensive budget, immigration reform and a farm bill by year's end.

He praised "Democrats and responsible Republicans who came together" to pass a last-minute deal to reverse a partial government shutdown and narrowly avert the expiration of the federal borrowing authority.

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It's All Politics
10:12 am
Thu October 17, 2013

10 Takeaways From The Fiscal Fight

With the shutdown-debt ceiling fight over, Speaker John Boehner, R-Ohio, appeared to strengthen his hand within the House GOP caucus but weaken it outside that group.
Evan Vucci AP

Originally published on Thu October 17, 2013 11:50 am

With the double crises of a partial government shutdown and a potential debt default resolved, it's a good time to consider some of the lessons we learned from the dysfunction and drama of recent weeks.

Here are 10 of them:

Shutting Down The Government Is Not A Winning Political Strategy

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The Two-Way
9:29 am
Thu October 17, 2013

Economists: Shutdown Will Shave Half-Percent From Quarterly GDP

Originally published on Thu October 17, 2013 2:06 pm

The government shutdown has taken a toll on the nation's economy and despite a deal that sidesteps a debt default and restarts the government (at least for a few months), growth forecasts for the last quarter of the year are being scaled back.

Economist Mark Zandi of Moody's Analytics has shaved his gross domestic product forecast from a 2.6 percent annualized rate to 2.1 percent for the last three months of the calendar year.

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Business
3:52 am
Thu October 17, 2013

Grandma Exodus: German Seniors Look To Poland For Care

Two German women chat in the gardens of a senior care home in Berlin. Germany is grappling with a rapidly aging population: By 2050, almost a third of Germans will be 65 years or older, and a growing "Grandma export" trend has set hands wringing.
Sean Gallup Getty Images

Originally published on Thu October 17, 2013 6:43 pm

A handful of German and Polish residents at a nursing home in the Polish mountain town of Szklarska Poreba play a Scrabble-like game using blocks with large letters.

The seniors are tended to by Polish workers who offer a steady supply of smiles, hugs and encouragement.

Leonardo Tegls says such personal attention makes this nursing home, Sun House, special. The 87-year-old Dutch-born immigrant to Germany says he first learned about the Polish nursing home from a TV ad.

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Politics
3:45 am
Thu October 17, 2013

Government Workers Must Get The Wheel Turning Again

Originally published on Thu October 17, 2013 9:23 am

Transcript

STEVE INSKEEP, HOST:

OK, with the government funding and debt ceiling deal now reached, passed and signed, government agencies are set to reopen. But don't expect all federal offices to take your calls just yet. NPR's Brian Naylor reports.

BRIAN NAYLOR, BYLINE: University of Alabama geologist Samantha Hansen has been conducting a research project in Antarctica that, in one way, is like most everything else, funded by the federal government. After 16 days down, it's going to take some time to restart.

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Politics
3:42 am
Thu October 17, 2013

Budget Process Isn't Over. Are More Shutdowns Ahead?

Originally published on Thu October 17, 2013 9:23 am

By wide margins in both the House and the Senate, Congress voted Wednesday night to end a 16-day partial government shutdown. The measure also delays the debt ceiling deadline until early February. House and Senate Budget committees have until Dec. 13 to reconcile competing budgets.

Politics
3:38 am
Thu October 17, 2013

Obama Sticks With 'No Ransom' Strategy, Comes Out Ahead

Originally published on Thu October 17, 2013 9:23 am

Transcript

STEVE INSKEEP, HOST:

Throughout the battle over the government shutdown and debt limit, President Obama repeated his view many times: So long as Republicans were threatening default, he would not negotiate.

PRESIDENT BARACK OBAMA: You don't negotiate by putting a gun to the other person's head.

INSKEEP: That strategy paid off for the Whitehouse, but it's not a strategy the president comes by naturally - as NPR's Scott Horsley reports.

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