This week, the sleek, speedy Chevy Corvette turns 60 years old. In the increasingly competitive auto business, where few cars make it past their teens, that makes it nearly ancient.
General Motors, however, is not retiring one of America's oldest sports cars just yet, and is embarking on the perilous path of updating the beloved brand. The auto company unveiled the new 2014 Corvette at the Detroit Auto Show on Sunday, a model that also revives the long-dormant Stingray name.
Thousands of Minnesota soldiers deployed in Kuwait woke up to a surprise last spring. Just weeks before the end of their tour, a group of corporate recruiters in business-casual attire showed up on base. The first-of-its kind visit was part of a new strategy to help returning service members find civilian jobs before their feet even hit U.S. soil.
The NFL playoffs are down to four teams. The 49ers, Patriots, Falcons and Ravens remain alive. Four other teams are gone, including the Denver Broncos, who seemed to have a great shot at a championship until this past weekend when Baltimore scored a last-minute touchdown to tie the game and then won in overtime.
These playoffs, of course, lead up to the Super Bowl, the biggest game in football and surely among the biggest commercial events in all of sports.
Goldman Sachs is reportedly planning to hold back paying bonuses to its employees in the U.K. That's according to the Financial Times, which reports the bank is looking at waiting until the top British tax rate falls by 5 percent in April before paying out the bonuses that would otherwise pay now.
When students at the University of Vermont resume classes on the snow-covered Burlington campus Monday, something will be missing: bottled water. UVM is the latest university to ban on-campus sales of bottled water.
At one of UVM's recently retrofitted refill stations, students fill up their reusable bottles with tap water. For many of the 14,000 students and staff on this campus, topping off their refillable bottles is an old habit.
Of course, this last week has been kind of a nightmare for Boeing and its new 787 Dreamliner. In three separate incidents in as many days, airline carriers reported problems with brakes, with fuel leaks and a battery fire. The U.S. Department of Transportation has announced a comprehensive review of the new plane. Joining us now to talk about Boeing's new 787 is Joe Nocera, op-ed columnist for The New York Times, and our man on finance and other matters. Joe, thanks very much for being with us.
Originally published on Fri January 11, 2013 7:23 pm
By Avie Schneider
Credit Paul Sakuma / AP
If you're a casual observer of the stock market, the last time you tuned in to what was happening with Facebook's stock was probably last May.
In those days after the company's long-anticipated initial public offering, its price was diving daily — exactly the opposite of what many had expected given the hype leading up to Facebook's IPO.
The IPO itself was full of technical problems — many buyers weren't sure if their orders went through. And then there were questions about whether Facebook could figure out how to make money in its fastest-growing segment — mobile.
A pair of prominent hedge fund managers have taken opposing positions on the nutritional-supplement company Herbalife. Bill Ackman of Pershing Square Capital Management says the multilevel-marketing company is a pyramid scheme and a bad investment. He's shorting the stock. Dan Loeb of hedge fund Third Point says Herbalife is a good investment. He's taken an 8.2 percent stake in the company and is betting that its shares will rise. Melissa Block talks with David Kestenbaum of the Planet Money team.