Business & Education

Economy
5:12 pm
Wed September 18, 2013

The Fed's Surprising Decision: Should You Cheer Or Boo?

Federal Reserve Chairman Ben Bernanke arrives to speak at a news conference Wednesday in Washington, D.C. The Fed cut its economic growth forecasts and said it would keep buying bonds in a bid to keep interest rates down.
Mark Wilson Getty Images

If you are trying to buy a home, you just got good news: The Federal Reserve said Wednesday it is not going to try to drive up long-term interest rates just yet.

Stock investors are happy for you. They like cheap mortgages too because a robust housing market creates jobs. To celebrate, they bought more shares, sending the Dow Jones industrial average up 147.21 to an all-time high of 15,676.94.

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Business
4:24 pm
Wed September 18, 2013

The Man Who Made Toyota A Modern Success Dies At 100

Originally published on Wed September 18, 2013 7:01 pm

Transcript

ROBERT SIEGEL, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Robert Siegel.

A giant of the auto business died yesterday, a few days after he turned 100. Eiji Toyoda was president and later chairman of Toyota. The family name is T-O-Y-O-D-A. Toyoda played a key role in the company going worldwide, especially Toyota's move into the U.S. market. Micheline Maynard covers the automotive industry. She's a contributing editor for Forbes these days. Welcome to the program.

MICHELINE MAYNARD: Thanks for having me, Robert.

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Economy
4:24 pm
Wed September 18, 2013

Fed Decides Not To Taper Bond Buying Yet, Surprises Analysts

Originally published on Wed September 18, 2013 7:01 pm

Transcript

ROBERT SIEGEL, HOST:

The stock market hit new highs today after the Federal Reserve made a surprise announcement. Investors and economists had expected the Fed to start winding down it's $85 billion a month stimulus program at its policymaking meeting today, but it didn't. As NPR's John Ydstie reports, the Fed said it wanted to make sure a recent improvement in the economy and labor market continued before pulling back its stimulus.

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The Two-Way
1:13 pm
Wed September 18, 2013

Fed Says It Will Continue Stimulus; Markets Reach New Highs

Federal Reserve Chairman Ben Bernanke speaks during a news conference at the Federal Reserve in Washington, D.C.
Mark Wilson Getty Images

Originally published on Wed September 18, 2013 5:28 pm

The Federal Reserve said today that it is not slowing down its monthly purchase of $85 billion in bonds.

The program is intended to stimulate a sluggish economy and the Fed was widely expected to announce that in light of a recovering economy, it was tapering the bond-buying program. Instead, it delivered a surprise that caused the markets to jump, as the Dow and the S&P closed at record highs.

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The Two-Way
11:37 am
Wed September 18, 2013

Beanie Babies Creator To Pay $53 Million For Tax Evasion

Ty Warner, creator of Beanie Babies toys, attends the 2003 American International Toy Fair in a rare appearance to celebrate the 10th anniversary of the Beanie Babies toy line.
Chris Hondros Getty Images

Originally published on Wed September 18, 2013 2:31 pm

The man behind Beanie Babies, the toy animals that saw their heyday in the mid-1990s, has agreed to plead guilty to tax evasion for failing to report income held in Swiss bank accounts.

H. Ty Warner, 69, has been charged in U.S. District Court with felony tax evasion. The indictment alleges that in 1996, Warner traveled to Zurich to open an account with Union Bank of Switzerland with the intent to "evade and defeat" taxes on $3.1 million in foreign income.

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Economy
11:15 am
Wed September 18, 2013

Minority-Owned Banks Play A Real Role In Recovery?

Originally published on Wed September 18, 2013 4:51 pm

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE from NPR News. I'm Michel Martin. Later this hour, we will meet the new Miss America, Nina Davuluri, and we'll find out how she's already gotten a lesson in grace under fire after her Indian-American heritage drew a swarm of haters on the web. It's the first of two conversations we'll have this hour about the interesting politics of beauty right now.

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All Tech Considered
11:13 am
Wed September 18, 2013

This Board Game Aims To Teach Preschoolers How To Code

Robot Turtles is for future programmers ages 3 to 8.
Courtesy of Robot Turtles

Originally published on Wed September 18, 2013 12:01 pm

In our "Weekly Innovation" blog series, we explore an interesting idea, design or product that you may not have heard of yet. Do you have an innovation to share? Use this quick form.

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The Two-Way
10:39 am
Wed September 18, 2013

Proposed Rule Would Make Companies Disclose CEO-To-Worker Pay Ratio

Warren Buffett, chairman and CEO of Berkshire Hathaway, bucks the trend on executive pay, with a salary only 11 times what the company's average worker makes.
Kevork Djansezian Getty Images

Originally published on Wed September 18, 2013 2:58 pm

Update At 12:30 p.m. ET. SEC Approves Rule:

The Securities and Exchange Commission has voted 3-2 to move the proposed rule ahead, with the two Republican commissioners opposing the measure.

The rule now goes for a 60-day public comment period, after which it could be formally adopted.

SEC commissioners also voted unanimously to require municipal advisers to register with the agency.

Here's our original post:

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Parallels
9:09 am
Wed September 18, 2013

More Old People, Fewer Workers: Nations Look To Immigration

A man relaxes at a downtown park in Seoul. The pronounced demographic shift triggered by a plummeting birth rate and soaring life expectancy is seen as one of the greatest challenges facing Asia's fourth-largest economy.
Kim Jae-Hwan AFP/Getty Images

Originally published on Wed October 9, 2013 4:43 pm

A story in the Financial Times caught our eye this week. It was on foreign workers in South Korea.

The story looked at the town of Ansan, where about 7.6 percent of the population is foreign. They come from other Asian countries, as well as from Russia. Here's one of the reasons for the change in South Korea, a highly homogeneous society:

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UA Sorority Recruitment
8:16 am
Wed September 18, 2013

People March Against Greek Segregation at Alabama

Hundreds of students gathered on the University of Alabama campus to protest alleged racism among the school's Greek organizations.
Pat Duggins/APR News

Several hundred people were marching at the University of Alabama to oppose racial segregation among the school's Greek-letter social organizations.

   The marchers headed from the university library Wednesday morning to the administration building, where the president's office is. The group was gathered on the steps of the administration building Wednesday morning. They stood behind a large banner that said "Last stand in the schoolhouse door."

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The Two-Way
5:57 am
Wed September 18, 2013

No Guns Please, Starbucks Tells Customers

A Starbucks customer — gun on his hip and drink in his hand — watches a rally by gun control advocates, in Seattle in 2010.
Elaine Thompson AP

Originally published on Wed September 18, 2013 9:42 am

With the coffee giant caught in the middle of what he says is an "increasingly uncivil and, in some cases, even threatening" debate, Starbucks CEO Howard Schultz has posted a letter to "fellow Americans" asking that they not bring guns into Starbucks' shops.

Schultz writes that:

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Education
3:49 am
Wed September 18, 2013

Should It Take 2 Or 3 Years To Earn A Law Degree?

Transcript

RENEE MONTAGNE, HOST:

Law students are looking for some changes to their education. The American Bar Association plans to issue a report in the next few weeks, recommending a major overhaul of how law schools operate. And students are hoping that a recent comment from President Obama, will boost one reform in particular: cutting law schools down to two years, from three.

NPR's Tovia Smith reports.

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Business
3:27 am
Wed September 18, 2013

Walgreen's Revamps Employee Health Care Package

Originally published on Wed September 18, 2013 5:10 am

The pharmacy chain is expected to announce that it will provide payments to employees so they can shop around for their own insurance. That is in lieu of supplying a company-sponsored benefit plan.

Business
3:27 am
Wed September 18, 2013

Police Impersonators Jump Line To Buy 'Grand Theft Auto V'

Originally published on Wed September 18, 2013 5:06 am

Three New York men were so eager to get the game; they hatched a scheme that could be one of its plots. According to the New York Post, the men pulled up to a mall in an unmarked vehicle, walked past hundreds of people in line and purchased the game. Real police pulled them over after they ran multiple stop signs trying to get away.

Sweetness And Light
2:19 am
Wed September 18, 2013

More Than Average: Dow Jones Adds The 'Swoosh'

Don Ryan AP

Originally published on Wed September 18, 2013 3:01 pm

After 117 years, sports has finally made it to the big time, when, starting next Tuesday, a sports company will be included in the Dow Jones averages.

The Dow Jones, of course, has always preferred very serious corporations –– your banks, your automotives, your insurers. OK, the movies were allowed in 1932 with the inclusion of Loews, and Walt Disney was brought onboard in 1991, but sports was never considered substantial enough for an industrial average until now, when Nike has been ordained.

Yes, Dow Jones has the swoosh.

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