Business

4:48am

Thu May 23, 2013
Business

When Will Fed Officials Ease Off The Accelerator?

Originally published on Fri May 24, 2013 12:54 pm

Transcript

DAVID GREENE, HOST:

NPR's business news starts with some of the shine off the stock market.

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4:46am

Thu May 23, 2013
Business

Goldman Sachs Is Doing Well. So Is Its CEO, Lloyd Blankfein

Originally published on Fri May 24, 2013 12:54 pm

Transcript

RENEE MONTAGNE, HOST:

The big bank Goldman Sachs holds its annual shareholder meeting today. These meetings are a chance for shareholders to hear from the CEO and vote on key issues, like CEO's pay. Five years ago, during the financial crisis, Goldman's CEO was a poster boy for overpaid executives. To find out how much Lloyd Blankfein is making now, we reached Neil Weinberg. He's editor-in-chief of American Banker.

Thanks for joining us.

NEIL WEINBERG: My pleasure.

MONTAGNE: So how much did Mr. Blankfein make?

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4:38am

Thu May 23, 2013
Politics

IRS Official's Silence Riles House Committee Members

Originally published on Fri May 24, 2013 12:54 pm

Transcript

RENEE MONTAGNE, HOST:

The IRS has admitted to targeting conservative groups seeking tax exempt status. And yesterday at a House hearing the IRS director of exempt organizations said, quote: "I have not done anything wrong." She then declined to testify. Lois Lerner's brief appearance at the committee was just the beginning of a stormy, five-hour session filled with angry outbursts and allegations of political motives.

NPR's Peter Overby reports.

PETER OVERBY, BYLINE: Lois Lerner did read a statement that she had done her job properly.

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4:38am

Thu May 23, 2013
Education

College Students Eye Calendar, Wait To See If Loan Rates Double

Originally published on Fri May 24, 2013 12:54 pm

Transcript

DAVID GREENE, HOST:

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4:38am

Thu May 23, 2013
Business

Business News

Originally published on Fri May 24, 2013 12:54 pm

Transcript

DAVID GREENE, HOST:

NPR's business news begins with a big payback to the Fed.

(SOUNDBITE OF MUSIC)

GREENE: Three years ago President Obama's green energy loan program gave a $455 million federal loan to electric carmaker Tesla. Critics bashed the loan as risky. Yesterday, Tesla announced it had paid that loan back in full - and early. The company was one of five carmakers to get money into the program. Tesla was first to repay it. Transcript provided by NPR, Copyright NPR.

4:38am

Thu May 23, 2013
Business

The Last Word In Business

Originally published on Fri May 24, 2013 12:54 pm

Transcript

RENEE MONTAGNE, HOST:

And our last word in business today is causing a bit of a stink in Venezuela, that would be a toilet paper shortage.

DAVID GREENE, HOST:

Venezuela is rich in oil, but relies on imports for many basic goods - including toothpaste, soap and yes, toilet paper. For weeks now, the country has had chronic toilet paper shortage.

MONTAGNE: Lawmakers voted to approve a $79 million credit to the government to resolve the issue. They aim to initially import some 39 million rolls.

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7:57pm

Wed May 22, 2013
The Two-Way

Judge: Unredeemed Borders Gift Cards Are Worthless

Originally published on Thu May 23, 2013 8:34 am

Customers walk out of Borders on July 22, 2011, in San Francisco, Calif., as the chain began liquidating.
Justin Sullivan Getty Images

If you were hoping to cash in that Borders gift card for the latest Dan Brown novel — or at least hoping to get some cash for it — you're too late.

A Manhattan federal judge on Wednesday ruled that the bankrupt and defunct book chain owes nothing to the roughly 17.7 million people who hold $210.5 million in unredeemed gift cards.

U.S. District Judge Andrew Carter says it would be unfair to Borders Group's other creditors to let gift-card holders pursue recoveries, Reuters reports:

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4:55pm

Wed May 22, 2013
Planet Money

Go East, Young Marijuana Dealer

Originally published on Wed May 22, 2013 6:40 pm

David McNew Getty Images

Chuck used to sell marijuana in California. But the legalization of medical marijuana in the state meant he was suddenly competing against hundreds of marijuana dispensaries. So he moved to New York, where marijuana is still 100 percent illegal. Since making the move, he says, he's quadrupled his income. (For the record: His name isn't really Chuck.)

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4:47pm

Wed May 22, 2013
Economy

Bernanke: Economy Still Too Shaky To End Low Interest Rates

Originally published on Wed May 22, 2013 6:40 pm

Transcript

ROBERT SIEGEL, HOST:

You're listening to ALL THINGS CONSIDERED from NPR News.

For those who closely follow decisions made by the Federal Reserve, today's marquee event was the testimony of Fed Chairman Ben Bernanke. He appeared on Capitol Hill before the Joint Economic Committee of Congress. And some lawmakers asked Bernanke about concerns of chaos in the financial markets once the Fed stops pumping money into the economy. NPR's John Ydstie explains.

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11:36am

Wed May 22, 2013
The Two-Way

Bernanke Hints That The Economy Still Needs Help

Originally published on Wed May 22, 2013 11:37 am

Federal Reserve Chairman Ben Bernanke during his Capitol Hill testimony Wednesday before the Joint Economic Committee.
Alex Wong Getty Images

In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.

The key passage from his prepared testimony:

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