Business

4:56pm

Tue October 8, 2013
It's All Politics

House GOP's Latest Idea: A Fiscal Supercommittee, Sort Of

Rep. Pete Sessions (R-Texas) at the hearing where he discussed his bill to create a bipartisan committee to tackle fiscal issues.
C-SPAN screen shot

The latest House GOP gambit in the fiscal fight is ... wait for it ... a supercommittee.

But Republicans aren't calling it a supercommittee since that's the term for the failed panel that brought us the the sequester.

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12:06pm

Tue October 8, 2013
It's All Politics

D.C. Bars And Restaurants Feel Shutdown Squeeze

Originally published on Tue October 8, 2013 3:14 pm

Federal employees aren't the only ones feeling the heat in Week 2 of the government shutdown.

D.C. bars and restaurants are also getting nervous about just how long their customers will be out on furlough — and how that might dent their bottom line. While attendance at local happy hours was up in the past week, according to some reports, there are serious concerns about whether that can last with so many government workers sent home.

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11:59am

Tue October 8, 2013
The Government Shutdown

Obama's Absence At Asia Summit Seen Hurting U.S. Trade

Originally published on Tue October 8, 2013 3:49 pm

Indonesian President Susilo Bambang Yudhoyono speaks Tuesday at the Asia-Pacific Economic Cooperation summit on the Indonesian resort island of Bali. President Obama missed the meeting due to the budget impasse in Washington.
Beawiharta/Pool EPA/Landov

Imagine a poker table.

At one seat, China's President Xi Jinping studies his cards. At another, Russian President Vladimir Putin is stroking his chin. Asian leaders fill the other seats, each trying to win the pot, which is filled — not with poker chips — but with jobs.

That's the kind of high-stakes game that played out this week in Indonesia, where global leaders got together to discuss trade relations. Their gathering ended Tuesday, and exactly who won what is not yet clear.

But this much is known: President Obama was not at the table.

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8:11am

Tue October 8, 2013
The Two-Way

Senate Democrats Could Set Up Test Vote On Debt Ceiling

Originally published on Tue October 8, 2013 11:14 am

Senate Majority Leader Harry Reid of Nevada speaks at a news conference last week on the government shutdown.
Win McNamee Getty Images

Senate Democrats might introduce a measure to raise the debt ceiling, even as the debate over a spending bill to restart the federal government drags on.

The Associated Press reports:

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4:37am

Tue October 8, 2013
Around the Nation

Anxious St. Louis Businesses Want Shutdown To End

Originally published on Tue October 8, 2013 8:26 am

Transcript

RENEE MONTAGNE, HOST:

In our continuing coverage of the impact of the partial government shutdown, we head now to St. Louis. It's home to around 25,000 federal workers, and many of them are wondering when they'll get back to work. So too are the many small businesses that rely on those workers as customers. St. Louis Public Radio's Tim Lloyd has more.

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4:37am

Tue October 8, 2013
Politics

Democrats Focus Government Shutdown Blame On Boehner

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

And the partial government shutdown has brought intense attention to House speaker John Boehner. He's working to keep Republicans united in a battle against President Obama.

INSKEEP: People close to Boehner have made it clear he did not want this fight. But urged by other lawmakers, Boehner dug in, insisting that President Obama must negotiate.

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4:37am

Tue October 8, 2013
Business

Measure To Fix 'Pint-Size' Problem In Michigan

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is pint-sized.

A bill introduced in Michigan would require that pints of beer be actual pints of beer - that is a full 16 ounces.

RENEE MONTAGNE, HOST:

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4:37am

Tue October 8, 2013
Business

Job Cuts In The Works At Alcatel-Lucent

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

NPR business news begins with high-tech job cuts.

(SOUNDBITE OF MUSIC)

INSKEEP: The French and American telecommunications manufacturer, Alcatel-Lucent, confirmed this morning it plans to cut 10,000 jobs worldwide. A company statement said 2,100 of those cuts will be from its operations in North and South America.

Now Alcatel-Lucent has been losing money for years. About a quarter of its staff are based in the United States, where the company runs the Nobel Prize-winning Bell Labs research facility.

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4:37am

Tue October 8, 2013
Research News

Theorists Compare Government Shutdown To A Not-So-Fun Game

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

So, we're in the second week of the government shutdown, and just over a week from now, federal borrowing authority expires, making it possible the federal government could fail to pay many of its legal obligations that Congress previously approved. At the center of both issues is House Speaker John Boehner, who last week accused Democrats of letting the shutdown continue because Democrats felt they were winning.

REPRESENTATIVE JOHN BOEHNER: This isn't some damn game.

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4:37am

Tue October 8, 2013
Law

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 8:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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