If you've applied for a mortgage recently, you know how hard it can be. The bank demands all kinds of obscure documents and wants proof of almost every asset you own. But an innovative mortgage program halfway around the world will evaluate your application without any extra documentation — and if you're approved, it will give you a 15-year fixed-rate mortgage. There's just one catch: The mortgages are only for low-income people in Cambodia. The program is a throwback to the days when bankers got to know their customers — and trusted them.
OK. So Frommer's guidebooks will stay the same. "The Tonight Show" is changing. This is a long-running television network drama - the saga of NBC easing Jay Leno out of the chair. As NPR's David Folkenflik reports, Leno will be replaced next year by Jimmy Fallon, in a show based in New York City.
Bank foreclosures often force people out of their homes. Some houses re-sell, and new people move in. Five years ago, NPR's Emily Harris bought a house that sold in foreclosure. An evening ring at her doorbell led her to meet the person who had lived there before.
And today's last word in business is space memorabilia.
Heritage Auction house is selling items that have gone to the moon. Astronaut Buzz Aldrin's toothbrush could be yours with the right offer.
DAVID GREENE, HOST:
OK. The bidding for this toothbrush - I hope they disinfect it - it's a light blue, Lactona tooth tip brush. The bidding starting at $9,000. The auction house is actually hoping that buyers will offer more than that.
After buying the company last year, Google decided to stop printing Frommer's travel guides. The founder of the brand now says Google has agreed to sell the company back to him. Arthur Frommer says he will continue to print the travel guides — in addition to publishing them electronically.
Steve Inskeep talks to David Wessel, economics editor of The Wall Street Journal, for a preview of what Friday's jobs report is likely to say about the U.S. economy. The stock market is setting records and though profits are up, wages are stagnant.
The middle-income housing projects Stuyvesant Town and Peter Cooper Village sit on an 80-acre patch of Lower Manhattan. In 2006, they came to epitomize the lunatic excess of the housing boom when their 11,232 apartments sold for $5.4 billion. They were bought at a competitive auction by Tishman Speyer Properties and BlackRock Realty.
The tech industry wants more skilled workers — from overseas. Companies are lobbying hard for Congress to raise the limit on H-1B visas — visas for people with specialized skills — researchers, for instance, or software engineers.
Brad Smith, Microsoft's general counsel, recently told NPR that more H-1B visas can't help but be good for the country.