Economy & Business

Business
4:29 am
Wed May 29, 2013

White House Economic Advisers To Leave

Originally published on Thu May 30, 2013 9:19 am

Transcript

RENEE MONTAGNE, HOST:

One of President Obama's top economic advisers is leaving the White House later this year, to return to his teaching job at Princeton. Since 2011, Alan Krueger has chaired the President's Council of Economic Advisers.

NPR's Scott Horsley takes this look back at his time in the White House.

SCOTT HORSLEY, BYLINE: One of Alan Krueger's tasks at the White House is deciphering the many different signals the economy sends, including the closely watched jobs report that typically comes out on the first Friday of the month.

Read more
Economy
1:54 am
Wed May 29, 2013

Once A Boon For Investors, House Flipping Is Back

This home in the Glassell Park neighborhood of Los Angeles was bought by Dossier Capital for $390,000, records show. It's now listed for more than $720,000.
Courtesy of Dossier Capital

Originally published on Wed May 29, 2013 9:47 am

House flipping is back.

A popular phenomenon during the housing boom, flipping is when a house is bought and sold within a six-month period. Flippers are real estate investors who buy houses, fix them up quickly and then resell them, making money off the renovation. In parts of California, it's happening at some of the fastest rates in a decade.

At a recent open house in Glassell Park, a neighborhood in northeast Los Angeles, curious buyers and neighbors streamed into a green stucco house that had just come onto the market.

Read more
The Two-Way
6:13 pm
Tue May 28, 2013

Head Of White House Economic Council To Step Down

Alan Krueger, Chairman of the White House Council of Economic Advisers, shown in November.
Jacquelyn Martin Associated Press

Alan Krueger, the chairman of the President's Council of Economic Advisers, says he will step down to return to Princeton to resume his post as a professor of economics.

Krueger, who has served as CEA chairman for the past two years, will return to Princeton in time for the beginning of the fall term. The Associated Press quotes a source familiar with the situation as saying Jason Furman, who served in President Obama's 2008 campaign, will be tapped as a replacement.

Read more
The Two-Way
4:25 pm
Tue May 28, 2013

Wal-Mart To Pay $81 Million For Hazardous Waste Dumping

A photo from earlier this month taken in front of a Wal-Mart store in La Habra, Calif.
Jae C. Hong Associated Press

Wal-Mart Stores has agreed to pay $81 million in penalties as part of a guilty plea on criminal charges of improperly disposing of hazardous waste in California and Missouri.

Prosecutors said the violations occurred between 2003 and 2005 and included employees negligently dumping pollutants from stores into sanitation drains.

The Associated Press reports that the plea agreements announced Tuesday "end a nearly decade-old investigation involving more than 20 prosecutors and 32 environmental groups."

Read more
Business
4:15 pm
Tue May 28, 2013

Cruise Industry Adopts Passenger 'Rights' As Incidents Mount

Damage on the Royal Caribbean ship Grandeur of the Seas is visible as the ship docks in Freeport, the Bahamas, on Monday.
Reuters/Landov

Originally published on Wed May 29, 2013 7:43 am

About 2,200 passengers were being flown back to Baltimore on Tuesday, a day after their cruise ship caught fire on its way to the Bahamas. There were no injuries aboard Royal Caribbean's Grandeur of the Seas.

But in the wake of the incident and others like it, the cruise ship companies have something of a black eye. The industry is now trying to reassure passengers it's OK for them to sail, adopting what it called a passenger "bill of rights."

Read more
Planet Money
3:49 pm
Tue May 28, 2013

In Myanmar, Reforms Come With Long-Awaited ATMS

A bank in Yangon recently opened the first ATM in Myanmar that's connected to the rest of the world.
Lam Thuy Vo / NPR

Originally published on Tue June 4, 2013 3:35 pm

Nan Htwe Nye works at an elementary school in Yangon, Myanmar. She started trying to use ATM machines a few months ago, and things haven't been going so well.

The machines are often broken, she says. "But," she adds, "we hope it will better in the future." This is, more or less, the story of ATMs — and of banking in general — in Myanmar.

She's visiting the headquarters of CB Bank, at the first ATM in the country that was connected to banks all around the world.

Read more
Economy & Business
3:34 pm
Tue May 28, 2013

Driving Down the Convertible's Memory Lane

Volkswagon Beetle convertible
Credit Miguel Mendez/Wikimedia

Lake Effect's Dan Harmon interviews auto contributor Mark Savage about convertibles.

It's been a long road for the convertible since it's hey-day.

Read more
Around the Nation
1:09 pm
Tue May 28, 2013

The Business And Science Of Storm Shelters

Transcript

JOHN DONVAN, HOST:

This is TALK OF THE NATION. I'm John Donvan in Washington. Neal Conan is away. A small hole in the ground, that's all it looked like the other day in the photo of the Christian Science Monitor, published in its coverage of a tornado that ripped through Moore, Oklahoma, a small hole in the ground surrounded on all sides by the wreckage of totally flattened homes, right up to the very edge of that hole in the ground, which oddly is rectangular in shape in the photo and has a door attached to it, flung open.

Read more
The Two-Way
11:47 am
Tue May 28, 2013

Liberty Reserve Charged In $6 Billion Money-Laundering Conspiracy

Originally published on Tue May 28, 2013 3:39 pm

Saying it was the world's largest international money laundering prosecution in history, authorities announced charges against the operators of Liberty Reserve, an online currency exchange that prosecutors say enabled more than a million people worldwide to launder about $6 billion.

Bloomberg reports:

Read more
Economy
10:43 am
Tue May 28, 2013

Should Detroit Bail Out By Selling Van Gogh?

Transcript

MICHEL MARTIN, HOST:

Now, we head to Detroit. We've reported a number of times on the city's serious financial difficulties. The city owes billions of dollars to creditors and the governor of Michigan has appointed an emergency manager to try to settle the city's finances.

Read more

Pages