Barnes & Noble Chairman and chief stockholder, Leonard Riggio, is looking into the possibility of buying the company's retail book business, but not the Nook, the e-book, the company had staked it future on.
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That news comes as the company is set to release its third quarter earnings on Thursday. Barnes & Noble has already signaled the report will be disappointing, especially with the e-reader.
NPR's Lynn Neary reports on the future of the bookstore chain.
If you were to open a new brick-and-mortar bookstore, New York City would be a very pricey place to do it. Manhattan boasts some of the world's most valuable land - and, as it turns out - air. And that is our last word in business this morning.
NPR's business news starts with a Fed status update.
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Federal Reserve Chairman Ben Bernanke is in front of the Senate Banking Committee this morning. It's his semi-annual report to Congress.
And Bernanke is facing questions, as he has for years, about the Fed's bond buying program that's been pumping money into the economy and keeping interest rates low. Some lawmakers fear this policy could eventually cause inflation.
Joe Kummer, president of Propulsive Wing in Elbridge, N.Y., is rooting for having a drone test site in upstate New York. He says it could save him trips to the West Coast to try out new drone prototypes.
In three years, the federal government is expected to open the skies for the civilian use of drones. But before that, the Federal Aviation Administration will set up six drone test sites around the country. Stiff competition to get one of the sites is anticipated — driven by hopes of attracting thousands of new jobs.
The recession forced Mid-Atlantic Builders Executive Vice President Stephen Paul to cut the company's staffing. But he says the firm is being efficient with half the original number of employees.
Credit Marie McGrory / NPR
Christian Cerria has helped Mid-Atlantic Builders shrink the number of workers needed on a work site. The firm uses smartphones and tablets to fix designs and send them back to the office without shuttling workers back and forth.
Years into the economic recovery, hiring remains slow. Many businesses learned to do more with less during the recession, so they don't need to bring on as many people now.
These new efficiencies have led to what economists call "labor displacement," which is taking place around the country. One business in Rockville, Md., is doing the same amount of work with half its original staff.
Two things are noticeably absent from the offices of Mid-Atlantic Builders: people and paper.
For Darden Restaurants, the company behind Olive Garden and Red Lobster, its earnings projections out last week were not pretty. Sales will fall, it said, and company CEO Clarence Otis called higher payroll taxes a "headwind."
After a two-year tax break, the payroll tax, which funds Social Security payments, went back up to 6.2 percent on Jan. 1. The 2-percentage-point increase is an extra $80 a month in taxes for someone earning $50,000 a year.
The long-awaited BP trial opened Monday in New Orleans. The oil giant is in court to determine how much it should pay because of the massive 2010 Gulf of Mexico oil spill. Audie Cornish talks to Jeff Brady.
If Congress fails to make a deal on government spending and taxation before Friday, federal cuts of more than 85 billion dollars will be enacted. NPR White House correspondent Scott Horsley discusses the politics of a potential deal and the options for avoiding sequestration.
Now, the Opinion Page. It's a no-brainer, that's how secretary - former Secretary of Labor Robert Reich described President Obama's recent proposal to raise the federal minimum wage. The plan would boost minimum pay from 7.25 an hour to $9. In a syndicated column, Reich wrote, a mere $9 an hour translates into about $18,000 a year, still under the poverty line.
In its bid to reshape itself for the future, Yahoo is returning to a workplace culture of the tech industry's past. The Internet giant has reportedly notified its employees they'll no longer be allowed to work from home.
Originally published on Mon February 25, 2013 10:36 am
Bad news for those whose shopping trips at Ikea are partly motivated by the allure of the store's famous meatballs: The giant Swedish furniture retailer on Monday said it had recalled a batch of frozen meatballs sent to more than a dozen European countries after tests detected traces of horse meat.
Food inspectors in the Czech Republic discovered the horse meat DNA last week in 2.2-pound packs of frozen meatballs labeled as beef and pork and sold under the name Kottbullar.
European budget problems prompted governments to cut back on investments in digital services and broadband networks. Industry officials say this damages Europe's ability to compete.
Terri Schultz reports from Brussels.
TERRI SCHULTZ, BYLINE: The European Union's own officials acknowledge there's a serious disconnect between what Europe is doing and what it needs to do to stop falling behind in the telecommunications industry.
Bad weather can mean big losses for homeowners and insurance companies. So recently, the insurance industry built a laboratory in rural Richburg, South Carolina in hopes of developing more weather-resistant buildings. The latest experiment was a giant, indoor hailstorm.
Julie Rose of member station WFAE takes us inside.
JULIE ROSE, BYLINE: Tanya Brown has had a single obsession these past two years...
TANYA BROWN: I'm a research engineer and the lead engineer on this project.