Business

5:36am

Wed August 14, 2013
Business

Heard It Through The Grapevine: Raisin Grower Goes Rogue

Originally published on Fri August 16, 2013 6:26 am

Transcript

DAVID GREENE, HOST:

Now, the story of a man many call an outlaw. His crime: growing raisins and then deciding to sell them all. His case made it all the way to the Supreme Court.

Planet Money's Zoe Chace has the story.

ZOE CHACE, BYLINE: You might imagine that such an ordinary thing like a raisin works the same way lots of other stuff works. The raisin grower takes his sun-dried grapes and sells them, as many as he can to whoever wants them. That's not what happens.

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3:05am

Wed August 14, 2013
The Salt

Listeria Outbreak Still Haunts Colorado's Cantaloupe Growers

Originally published on Wed August 14, 2013 1:48 pm

A melon washing station sprays cantaloupes with clean water and sanitizer.
Kristin Kidd

Two years after cantaloupe were linked to one of the worst foodborne outbreaks in U.S. history, lawyers have filed a fresh round of lawsuits. Meanwhile, farmers are trying to win back customers after their signature crop was tarred by a broad brush.

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3:04am

Wed August 14, 2013
The Record

Why Steinway Is Likely To Be Sold To A Hedge Fund Manager

Originally published on Tue September 10, 2013 11:16 am

The Steinway Musical Instruments factory in Queens, N.Y.
Ilya Marritz

Steinway & Sons, the 160-year-old musical instrument maker, is set to change hands.

Last month, a private equity firm emerged as the company's likely buyer. But a mystery bidder — rumored to be hedge fund manager John Paulson — has swooped in at the last minute, and now looks likely to take control of one of the oldest manufacturers in the United States. Paulson made billions betting against the housing market at a time when many thought housing prices could only go up. His reported offer for the company is $458 million.

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3:00am

Wed August 14, 2013
Parallels

Brazilians Flood To U.S. On Massive Shopping Sprees

Originally published on Wed August 14, 2013 7:26 pm

Camila DeSouza, a 17-year-old Brazilian, shops for shoes at a mall in Sunrise, Fla., on July 16, 2012. During their winter, Brazilians flock to the U.S., mainly to shop. Even with the cost of airfare figured in, many products are far cheaper in the U.S. than in Brazil.
Charles Trainor Jr. Miami Herald/MCT /Landov

What's the busiest U.S. Consulate in the world? If you guessed in Mexico or China, you'd be wrong.

It's actually in Brazil, Sao Paulo to be exact. The consulate there is giving a record number of visas to Brazilians who want to visit the U.S. And that is giving a boost to the economies of cities like Miami.

On a recent day, Tiago Dalcien and his girlfriend stand outside the U.S. Consulate in Sao Paulo clutching their passports and other documents. He is a 30-year-old banker; his girlfriend is a doctor.

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5:28pm

Tue August 13, 2013
Business

DOJ Suit Seen Delaying, Not Killing Big Airline Merger

A United Airlines jet takes off behind a US Airways jet at Ronald Reagan Washington National Airport on Tuesday.
Win McNamee Getty Images

The government's decision Tuesday to oppose the merger of US Airways and American Airlines stunned airline analysts, but many predicted the deal eventually will win go through.

"Given that other airline mergers were approved, this was a surprise," University of Richmond transportation economist George Hoffer said. Other major carriers already have been allowed to combine forces, so "it's illogical to oppose this merger. This move comes a day late and a dollar short," he said.

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4:38pm

Tue August 13, 2013
The Salt

Chipotle Is Keeping Its Meat Antibiotic-Free After All

Originally published on Mon November 18, 2013 5:26 pm

For a few hours Tuesday, it appeared that Chipotle Mexican Grill, an ever expanding source of fast food for the ethically conscious consumer, had softened its hard line against antibiotics in meat production.

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4:34pm

Tue August 13, 2013
Business

J.C. Penney Board Member Resigns After Criticizing Management

Originally published on Tue August 13, 2013 6:31 pm

William Ackman, a controversial hedge fund manager, has resigned from the board of the J.C. Penney Company. Ackman is Penny's largest shareholder and had been engaged in a public dispute with the board over who should lead the struggling retailer.

4:34pm

Tue August 13, 2013
Business

DOJ Tries To Block Airline Merger With Antitrust Suit

Originally published on Tue August 13, 2013 6:31 pm

The proposed merger of U.S. Airways and American Airlines ran into major turbulence on Tuesday as the Justice Department and six state attorneys general filed an antitrust suit aimed at blocking the deal. Justice Department officials said the merger would eliminate competition and put consumers at risk of higher prices.

4:34pm

Tue August 13, 2013
Business

Some Consumers Push Back Against 'Smart' Utility Meters

Originally published on Tue August 13, 2013 6:31 pm

Power companies all over the country are in the process of replacing old residential meters with new digital smart ones. These meters transmit real time data back to the utilities, giving a precise picture of how much electricity customers are using and when. Audie Cornish talks to Severin Borenstein — director of the University of California Energy Institute — about the technology.

4:34pm

Tue August 13, 2013
Business

Lawmakers, Banking Regulators Take On Bitcoin

Originally published on Tue August 13, 2013 6:39 pm

The New York Department of Financial Services has issued subpoenas to several companies using the virtual currency Bitcoin for more information on how they do business. Audie Cornish talks to Jerry Brito, senior research fellow at the Mercatus Center at George Mason University, about the complications of regulating digital money.

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