Business

5:12am

Thu September 12, 2013
Business

Calif. City Proposes Unique Plan To Avoid Foreclosures

Originally published on Thu September 12, 2013 6:09 am

A federal judge in San Francisco on Thursday hears arguments over a radical plan to stem the foreclosure crisis. The City of Richmond is proposing to buy underwater mortgages in order to help keep local residents in their homes. If banks don't want to sell those mortgages, the city says it is prepared to invoke eminent domain to seize the mortgages.

5:12am

Thu September 12, 2013
Around the Nation

Missouri Tax Posturing May Influence Other States

Originally published on Thu September 12, 2013 5:50 am

Republican lawmakers in Missouri on Wednesday failed to override a tax veto by Democratic Gov. Jay Nixon. The controversial measure would have lowered state income taxes for the first time in decades.
Orlin Wagner AP

Democratic Gov. Jay Nixon used some fancy footwork to ensure his veto of a tax cut stayed in place — even though it faced a supermajority of Republicans in the Missouri House and Senate

Nixon said he vetoed the tax cut because the $700 million price tag was "unaffordable." But he knew in doing so, he was up against a lion of a legislature, with a veto-proof majority in both chambers.

Lawmakers on Wednesday failed to override Nixon's veto.

Dan Ponder, a political scientist at Drury University, says the governor had a decidedly uphill battle.

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5:12am

Thu September 12, 2013
Business

A Check On The Housing Industry

Originally published on Thu September 12, 2013 6:51 am

Transcript

RENEE MONTAGNE, HOST:

There is, of course, a lot of attention being paid about what's happening in Richmond because millions of other American homeowners around the country are also underwater - again, homes that are worth less than their mortgages. We're joined now by NPR correspondent Chris Arnold, who's been following all of this. Good morning.

CHRIS ARNOLD, BYLINE: Good morning, Renee.

MONTAGNE: How many homeowners are still underwater? I gather with the housing market coming back, this is changing - for the better.

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3:46am

Thu September 12, 2013
Business

5 Years After Financial Crisis, Are Big Banks Still A Threat?

Originally published on Thu September 12, 2013 11:30 am

The headquarters of Lehman Brothers in Times Square in 2008, the year the financial services firm filed for bankruptcy.
Hiroko Masuike Getty Images

It's been five years since Lehman Brothers collapsed and touched off a banking crisis that is still being felt by the global economy. Today, the banking industry is a lot stronger than it was, but some critics say efforts to reform banking regulations have fallen short of their potential.

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3:43am

Thu September 12, 2013
Author Interviews

Tired Of Inequality? One Economist Says It'll Only Get Worse

Originally published on Thu September 12, 2013 9:57 am

Economist Tyler Cowen believes that income inequality in America is only increasing. His new book is called Average Is Over: Powering America Beyond the Age of the Great Stagnation.
Szasz-Fabian Ilka Erika iStockphoto.com

Economist Tyler Cowen has some advice for what to do about America's income inequality: Get used to it. In his latest book, Average Is Over, Cowen lays out his prediction for where the U.S. economy is heading, like it or not:

"I think we'll see a thinning out of the middle class," he tells NPR's Steve Inskeep. "We'll see a lot of individuals rising up to much greater wealth. And we'll also see more individuals clustering in a kind of lower-middle class existence."

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1:36am

Thu September 12, 2013
Media

Tina Brown To Leave The Daily Beast

Originally published on Thu September 12, 2013 9:41 am

The Daily Beast editor-in-chief Tina Brown plans to leave the website to produce live forums on news topics.
Nicholas Kamm AFP/Getty Images

Celebrity editor Tina Brown announced Wednesday that she's leaving The Daily Beast to launch her own media company. She has been a regular guest on Morning Edition. Brown, 59, plans to produce live forums on news topics.

Brown has edited some of the most prestigious publications: Vanity Fair, The New Yorker and Tattler. Five years ago, she helped found The Daily Beast — a news and opinion website. Now, the editor-in-chief says she's leaving to do what she calls "theatrical journalism" before live audiences.

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5:44pm

Wed September 11, 2013
The Salt

Pets Or Livestock? A Moral Divide Over Horse Slaughter

Originally published on Wed September 11, 2013 7:30 pm

Jamesport has the largest Amish community in Missouri, and horse-pulled buggies are often parked alongside cars. Horse owners in the state are divided over whether to allow horses to be killed for meat in the U.S.
Frank Morris for NPR

Few Americans eat horse meat, and many don't like the idea of slaughtering horses. But a handful of investors are struggling to restart the horse-slaughter industry in the U.S.

Thousands of American horses are already slaughtered in Mexico and Canada each year for their meat, which gets shipped to European and Asian markets.

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5:41pm

Wed September 11, 2013
All Tech Considered

Coming Soon: A Jolt Of Caffeine You Can Spray On Your Skin

Originally published on Wed September 11, 2013 6:16 pm

Sprayable Energy will be on sale in November, says its creator, Ben Yu.
Courtesy of Sprayable Energy

In our "Weekly Innovation" blog series, we explore an interesting idea, design or product that you may not have heard of yet. Do you have an innovation to share? Use this quick form.

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5:00pm

Wed September 11, 2013
All Tech Considered

Sexism In The Tech Industry Takes Center Stage

Originally published on Wed September 11, 2013 5:59 pm

TechCrunch's Disrupt 2012 conference in San Francisco. This year, two hackathon presentations ignited a firestorm.
Max Morse Getty Images

For women struggling to make inroads in the male-dominated tech industry, a few stunning situations this week have provided some extreme examples of what they're up against.

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4:39pm

Wed September 11, 2013
Economy

Five Years Later, Lehman Brothers Fall Still Stings

Originally published on Wed September 11, 2013 5:59 pm

Sept. 15 is the anniversary of collapse of Lehman Brothers, which many see as a watershed moment in the financial crisis. We look back at a time when fear and uncertainty gripped financial markets and policymakers around the world and drove the world economy into the Great Recession.

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