Business & Education

The Two-Way
9:42 am
Thu July 25, 2013

Big Coup For One Of The Big Three: Impala Called Best Sedan

The 2014 Chevrolet Impala, which Consumer Reports says its better than its foreign rivals.
Justin Lane EPA /Landov

Originally published on Thu July 25, 2013 10:12 am

The city of Detroit may be on the skids financially, but one of its traditional "big three" automakers just scored a big win.

For the first time since it began making such comparisons between sedans in 1992, Consumer Reports magazine has given its top rating to a model made by a U.S. automaker — not one made by a European or Japanese company.

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The Two-Way
9:42 am
Thu July 25, 2013

Feds Charge SAC Capital In Insider Trading Case

Former SAC portfolio manager Michael Steinberg (center) exits a Manhattan federal court with his attorney after his indictment on securities fraud charges in March.
Louis Lanzano AP

Originally published on Thu July 25, 2013 10:29 am

Federal officials in New York City have charged SAC Capital Advisors with insider trading, the culmination of a protracted investigation into the hedge fund founded by embattled billionaire Steven Cohen.

SAC is charged with one count of wire fraud and four counts of securities fraud in connection with alleged insider trading by "numerous employees" at "various times between in or about 1999 through at least in or about 2010," according to the indictment.

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The Two-Way
8:09 am
Thu July 25, 2013

Jobless Claims Rose Last Week; Key Orders Up In June

Originally published on Thu July 25, 2013 9:04 am

There were 343,000 first-time claims filed for unemployment insurance last week, the Employment and Training Administration says. That was up from an estimated 336,000 the week before.

The increase is from what had been a 10-week low. But basically, claims have been ranging between the mid-330,000s and mid-370,000s all year. Like other employment indicators, the jobless claims figures have been signalling that job growth remains modest.

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Business & Education
7:26 am
Thu July 25, 2013

College Expected to Make Positive Impact in Dothan

The Alabama College of Osteopathic Medicine is estimated to have generated $34.5 million for the Dothan area this year.
ACOM, by Steve Pearce of Southeast Alabama Medical Center

An economic impact study by the Dothan Area Chamber of Commerce estimates the Alabama College of Osteopathic Medicine will generate $34.5 million for the area this year.

   The study estimates the college's impact will be $169.3 million by 2020, and $295.7 million by 2030. The college is set to open in August with a class of 150 students.

   Some tell the Dothan Eagle (http://bit.ly/1aJyueD ) those estimates will likely be surpassed with restaurants, health care facilities, banks and hotels being developed nearby.

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Business & Education
7:23 am
Thu July 25, 2013

Mobile Port Adding Steel Coil Facility

Alabama State Port Authority

A company is adding a $36 million facility to handle steel coils at the Alabama State Port Authority in Mobile.

   Port officials announced the deal with Alabama Steel Terminals on Wednesday. The company is a joint venture between TriState Maritime Services Inc. and the Richardson Group of Companies.

   Alabama Steel Terminals will build a 372,600-square-foot warehouse in two phases at the port. It will include both covered and open areas for handling steel coil that's being shipped.

Business
4:27 am
Thu July 25, 2013

Ex-Goldman Sachs Executive Takes The Stand

Originally published on Thu July 25, 2013 6:58 am

Transcript

DAVID GREENE, HOST:

A former executive at Goldman Sachs will take the stand again in his civil fraud trial this morning. Fabrice Tourre is accused of misleading investors about a security he marketed and sold in the months leading up to the subprime mortgage collapse.

Tourre began testifying yesterday afternoon, and NPR's Jim Zarroli was there. Jim, good morning.

JIM ZARROLI, BYLINE: Good morning.

GREENE: So give us the background, here, if you can. What is Fabrice Tourre accused of, exactly?

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The Two-Way
4:47 pm
Wed July 24, 2013

Why The Latest Gulf Leak Is No BP Disaster

Fire boats battle a fire at the off shore oil rig Deepwater Horizon in April 2010.
U.S. Coast Guard Getty Images

Originally published on Wed July 24, 2013 5:06 pm

Teams of workers are mobilizing in the Gulf of Mexico to try to stem a natural gas leak at an offshore drilling rig that exploded and caught fire Tuesday. The rig off the Louisiana coast has been partially destroyed by the out of control blaze, and firefighting boats are on the scene.

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Business
4:29 pm
Wed July 24, 2013

Full-Time Vs. Part-Time Workers: Restaurants Weigh Obamacare

The California Tortilla chain is one company still deciding how to react to the new health care requirements for business, set to take effect next year.
John Ydstie NPR

Originally published on Wed July 24, 2013 6:21 pm

Many businesses that don't offer health insurance to all their employees breathed a sigh of relief earlier this month when they learned they'd have an extra year to comply with the new health care law or face stiff penalties.

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The Two-Way
11:47 am
Wed July 24, 2013

Sales Of New Homes Rise Again, Hit Five-Year High

A new home that was under construction earlier this year in San Mateo, Calif.
Justin Sullivan Getty Images

Originally published on Fri August 23, 2013 12:35 pm

Note added on Aug. 23, 2013: When we wrote this post and its headline — "Sales Of New Homes Rise Again, Hit Five-Year High" — the data said that was true. Now, the agencies that produce the numbers have issued revisions that indicate sales of new homes in June were the second-best in the last five years. Go here to read about that.

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All Tech Considered
11:46 am
Wed July 24, 2013

Finland-Based Startup Will Let You 'Pay With Your Face'

Outside of a John Woo film like Face/Off, starring John Travolta and Nicolas Cage, it's nearly impossible for someone to steal your face.
Chris Pizzello AP

In our "Weekly Innovation" blog series, we explore an interesting idea, design or product that you may not have heard of yet. Previously we featured the sink-urinal and Smart Bedding.

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Business
9:43 am
Wed July 24, 2013

Boeing Is Flying High With Latest Earnings

Originally published on Wed July 24, 2013 10:59 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with Boeing flying high.

(SOUNDBITE OF MUSIC)

GREENE: The aircraft maker says its latest quarterly earnings rose a surprising 13 percent this quarter, despite all the troubles with the new 787 Dreamliner. Boeing said today revenues were up due to increased sales of its commercial jets, including Dreamliners and 737s.

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Business & Education
7:11 am
Wed July 24, 2013

Ala School System Reconsiders Cutting Bus Service

Hoover City school officials are reconsidering plans to cut bus services next year.
hoovercity.schoolinsites.com

One of Alabama's best-funded public school systems is reconsidering a plan to end school bus service.

   The Hoover city school board voted Monday night to eliminate bus routes for everyone but special education students beginning in August 2014 as part of a plan to save $2.5 million annually.

   But school board president Paulette Pearson tells The Birmingham News (http://bit.ly/13bImbJ) that other options are now being considered.

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Economy
6:06 am
Wed July 24, 2013

As Obama Renews Jobs Push, How Is The Economy Doing?

Workers line up pipe while drilling for oil outside Watford City, N.D. While the energy sector has been strong, millions of Americans have been out of work since the recession ended.
Andrew Burton Getty Images

Originally published on Wed July 24, 2013 9:35 am

The U.S. economy has been growing for four straight years — each under the leadership of President Obama.

But the pace of improvement has been disappointing to many, especially the nearly 12 million people still looking for work.

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Business
5:51 am
Wed July 24, 2013

Daimler Profits Rev Up In Second Quarter

Originally published on Wed July 24, 2013 10:59 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with fancy cars revving up.

(SOUNDBITE OF MUSIC)

Business
4:55 am
Wed July 24, 2013

Congress Weighs Whether Big Banks Can Own Commercial Assets

Originally published on Wed July 24, 2013 10:59 am

Transcript

DAVID GREENE, HOST:

Congress is talking again about whether big banks are taking on too much risk. This time, the question is whether banks should be allowed to own commercial assets, including everything from oil and metals to warehouses and parking garages.

As NPR's Yuki Noguchi reports, the question is whether holding a vast array of assets makes banks safer and more stable, or prone to more market risk.

YUKI NOGUCHI, BYLINE: The Senate Banking Committee's Sherrod Brown, an Ohio Democrat, framed the issue this way...

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