Business & Education

Business
4:17 pm
Tue April 2, 2013

For Legal Pot Sellers, A Big Tax Problem

Erica Freeman of Choice Organics weighs medical marijuana for a customer.
Grace Hood for NPR

Originally published on Tue April 2, 2013 8:56 pm

An obscure tax code provision crafted for drug dealers is giving state-licensed medical marijuana dispensaries a headache.

In Colorado, federal income tax rates for dispensaries can soar as high as 70 percent because of a tax code section that does not allow businesses to claim certain deductions.

The section is known as 280E, and it was originally written for illegal drug traffickers. But today it's a thorn in the side of licensed dispensary owners like Erica Freeman.

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The Two-Way
11:57 am
Tue April 2, 2013

In Spain, A Mattress That Lets Your Money Rest Easy

My Mattress Safe retails for about $1,120.
Courtesy of Descanso Santos Suenos

Spaniards wary of trusting their life savings to their country's shaky banking system can now buy a mattress that has an armored safe equipped with a keypad combination lock hidden in one end.

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Shots - Health News
11:20 am
Tue April 2, 2013

The Hidden Limitations Of Health Savings Accounts

In order to get the tax advantages of a health savings account, the health plan it's linked to has to meet certain criteria.
iStockphoto.com

Health plan deductibles keep getting higher — the proportion of workers with a deductible that topped $1,000 for single coverage nearly tripled in the past five years, to 34 percent.

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The Two-Way
8:47 am
Tue April 2, 2013

Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012

Fannie Mae's headquarters in Washington, DC.
Chip Somodevilla Getty Images

The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.

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Tuscaloosa Co. Superintendent
7:34 am
Tue April 2, 2013

Finalists Vie for Superintendent in Tuscaloosa Co.

Elizabeth Swinford, superintendent of the Vicksburg Warren School District in Mississippi, is one of 5 finalists for Tuscaloosa County superintendent.
vwsd.k12.ms.us Vicksburg Warren School District

Tuscaloosa County school board members plan to interview five finalists for superintendent by next week.


Kendy Behrends, a consultant with the Alabama Association of School Boards, which conducted the search, identified the finalists at Monday's school board meeting.


The Tuscaloosa News reports (http://bit.ly/10unlZ1) that finalists include:


—Walter Davie, the deputy superintendent of the Tuscaloosa County School System.


—Valya Lee, an executive consultant for EducTrax who has been superintendent of Twiggs County Schools in Georgia.

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Business
4:18 am
Tue April 2, 2013

Business News

Originally published on Tue April 2, 2013 5:42 am

Monday marked the start of the application period for H1B visas — those are the work permits granted to 85,000 skilled foreigners each year. Many of them work in the high-tech industry. And for the first time since the financial crisis hit in 2008, the quotas for the H1B are expected to be filled in a single week.

Around the Nation
4:18 am
Tue April 2, 2013

Budgets Cuts Force Some Air Traffic Control Towers To Close

Originally published on Tue April 2, 2013 4:31 am

David Greene talks to Yvette Aehle, director of the Southwest Georgia Regional Airport, about her plans to shut down the airport's air traffic control tower. Because of sequestration, the FAA will no longer pay for air traffic controllers at 144 smaller airports.

Business
4:18 am
Tue April 2, 2013

The Last Word In Business

Originally published on Tue April 2, 2013 5:47 am

Paco Santos' mattress company started selling My Mattress Savings Bank last month. The price tag is a little more than $1,000. His initial supply sold out in just 24 hours.

Business
4:18 am
Tue April 2, 2013

Novartis Ruling Reverberates Past India's Borders

Originally published on Tue April 2, 2013 4:28 am

India's Supreme Court says drug maker Novartis can't hold onto its patent for the pricey cancer drug Gleevec simply by tweaking its chemical formula. That means generic drug makers can keep making a form of the drug at a tenth of Novartis's price — for the Indian market and for other low- and middle-income markets. Consumer advocates call it a major advance for access to generic drugs. Novartis and drug industry allies say it will chill companies' willingness to produce innovative products.

Economy
4:18 am
Tue April 2, 2013

Economic Success Propels Germany Toward Europe's Political Power House

Originally published on Tue April 2, 2013 4:54 am

Steve Inskeep talks to Zanny Minton Beddoes, of The Economist, about the long-term impact of the Cyprus crisis on European economies. Beddoes offers the view from Germany. That country is now turning its attention to its own general elections in September.

Around the Nation
4:18 am
Tue April 2, 2013

In Bankruptcy, Stockton Must Decide Pension Issue

Originally published on Tue April 2, 2013 5:04 am

Transcript

STEVE INSKEEP, HOST:

A federal judge has ruled that Stockton, California, may enter into bankruptcy proceedings. That opens the way for Stockton to become America's largest bankrupt city. The population there is 300,000, bigger than Cincinnati, Newark, New Jersey or St. Paul, Minnesota. NPR's Richard Gonzalez reports that others cities share Stockton's problems.

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Financial Basics For Baby Boomers
2:23 am
Tue April 2, 2013

Deciding The Right Time To Claim Social Security

The importance of making a smart decision on how and when benefits are claimed can't be underestimated, says Mary Beth Franklin of Investment News.
iStockphoto.com

Originally published on Tue April 2, 2013 7:45 am

When it comes to claiming Social Security benefits, there is no magic age. Today's boomers can begin collecting full benefits at 66, tap in early for a modified benefit at 62 or delay receiving benefits until 70.

But the importance of making a smart decision on how and when benefits are claimed can't be underestimated, says Mary Beth Franklin of Investment News.

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Law
2:22 am
Tue April 2, 2013

States Propose Crackdowns On Copper Theft

Everything from telephone wire to plumbing is a target for copper thieves, and lawmakers in nearly half the states are considering legislation aimed at making it harder to sell the stolen metal.
iStockphoto.com

Originally published on Tue April 2, 2013 7:59 am

The price of copper remains at near historic highs, and that means so, too, does the amount of copper getting stolen.

Everything from telephone wire to plumbing is a target, and lawmakers in nearly half the states are considering legislation aimed at making it harder for thieves to sell the stolen metal.

James City County in southeastern Virginia has seen a spate of recent copper thefts. Maj. Steve Rubino with the county police department says there have been six major incidents since January.

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Technology
4:12 pm
Mon April 1, 2013

Tech Week Ahead: Rumors Of A Facebook Phone

Originally published on Mon April 1, 2013 4:17 pm

Steve Henn looks at this week's technology news, including a possible Facebook phone announcement on Thursday and a nod to the multiple April Fools' Day jokes on the Internet.

Business
4:12 pm
Mon April 1, 2013

Electric Car Company Posts Its First Profit While Another May File For Bankruptcy

Originally published on Mon April 1, 2013 4:17 pm

Two startup automakers with big ambitions for electric vehicles appear to be headed in different directions. Luxury plug-in hybrid maker Fisker has hired a law firm to advise it on a possible bankruptcy, according to multiple published reports. Electric car maker Tesla announced on Monday that it expects to turn its first ever profit in the first quarter.

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