Business

5:21am

Mon July 22, 2013
Business

London Bookseller Forgoes Big Profit On J.K. Rowling Book

Originally published on Mon July 22, 2013 7:30 am

Transcript

DAVID GREENE, HOST:

Speaking of pouring a drink, how about raising a glass to this bookseller. Today's last word in business is one generous retailer.

RENEE MONTAGNE, HOST:

We learned last week that J.K. Rowling - of Harry Potter fame - was also the hidden author of the crime novel "The Cuckoo's Calling." She had released it under the nom de plume, Robert Galbraith.

GREENE: After that was revealed, the price of a signed first edition immediately jumped to more than $1,500 on sites like eBay.

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3:33am

Mon July 22, 2013
The Salt

New York Toasts Long-Awaited Revival Of Its Distilleries

Originally published on Tue July 23, 2013 11:30 am

Tuthilltown Spirits in New York makes a clear corn whiskey, and the first legal aged whiskey in the state since Prohibition, among other products.
Joel Rose/NPR

A century ago, New York could claim that much of its liquor was local, thanks to distilleries large and small that supplied a lot of the whiskey, gin and rum that kept New York City (and the rest of North America) lubricated. Then Prohibition arrived and the industry largely dried up, before trickling back to life in the 21st century.

Now, distillers in New York state are toasting a revival 80 years in the making.

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6:21am

Sun July 21, 2013
All Tech Considered

High-End Stores Use Facial Recognition Tools To Spot VIPs

Originally published on Sun July 21, 2013 3:33 pm

Hey, isn't that ...? New facial recognition software is designed to help store employees recognize celebrities like Mindy Kaling — and other bold-faced names.
Chelsea Lauren Getty Images

When a young Indian-American woman walked into the funky L.A. jewelry boutique Tarina Tarantino, store manager Lauren Twisselman thought she was just like any other customer. She didn't realize the woman was actress and writer Mindy Kaling.

"I hadn't watched The Office," Twisselman says. Kaling both wrote and appeared in the NBC hit.

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5:34pm

Sat July 20, 2013
Business

What A Bankrupt Detroit Means For The Auto Industry

Detroit this week became the largest American city ever to file for bankruptcy. Host Jacki Lyden talks with NPR business reporter Sonari Glinton about what Detroit's fiscal woes means for the nation's auto industry, which is famously linked to the city.

10:08am

Sat July 20, 2013
The Two-Way

Helen Thomas, Former Dean Of White House Press, Dies At 92

Originally published on Sun July 21, 2013 8:51 am

Helen Thomas reads the newspaper while sitting in her chair in the White House press room in 2006. She died on Saturday at age 92.
Brendan Smialowski Getty Images

Long-time White House correspondent Helen Thomas, who covered every president from Eisenhower to Obama, has died at age 92, according to The Gridiron Club & Foundation.

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4:57am

Sat July 20, 2013
News

Detroit Businesses See Opportunity In Bankruptcy

Originally published on Sat July 20, 2013 4:48 pm

The Detroit skyline gleams from Grand River Ave., a major thoroughfare into some of the city's blighted neighborhoods.
Carlos Osorio AP

Few Detroiters think the largest municipal bankruptcy in U.S. history is great news.

But plenty see it as an opportunity. Many Detroit business owners hope the bankruptcy will mean more stability and certainty, in a city that has had little of either in recent years.

Sandy Baruah, head of the Detroit Regional Chamber, says the bankruptcy filing did not come as a surprise to him, nor should it surprise anybody else.

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6:13pm

Fri July 19, 2013
The Two-Way

SEC Charges Hedge Fund Billionaire Steven Cohen

Originally published on Fri July 19, 2013 6:52 pm

Steven A. Cohen, founder and chairman of SAC Capital Advisors, is interviewed in Las Vegas in 2011.
Steve Marcus Reuters/Landov

The SEC on Friday filed civil charges against Steven A. Cohen, the founder of hedge fund SAC Capital Advisors, accusing the billionaire of failing to prevent insider trading.

The Securities and Exchange Commission in a statement Friday afternoon said:

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5:14pm

Fri July 19, 2013
Business

New Smartphone Upgrade Plans Can Be Costly In The Long Run

Originally published on Fri July 19, 2013 6:12 pm

Nearly 60 percent of Americans have smartphones, up from just 8 percent five years ago.
Justin Sullivan Getty Images

Three of the four major wireless companies are out with new plans for those who want the latest smartphone sooner. The plans, with names like Verizon Edge and AT&T Next, essentially let you rent a phone for six months or a year and then trade it in for a new one — but there's a catch.

"You're paying essentially twice," says Avi Greengart, who is research director for consumer devices at Current Analysis and does some consulting for the industry.

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5:14pm

Fri July 19, 2013
Business

Billionaire Hedge Fund Manager Accused Of Failing To Supervise

Originally published on Fri July 19, 2013 6:12 pm

Friday, the Securities and Exchange Commission accused billionaire hedge fund manager Steven Cohen of failing to supervise two of his employees who have been charged with insider trading. Cohen is the founder of SAC Captial Advisors. Audie Cornish speaks with NPR's Chris Arnold.

5:14pm

Fri July 19, 2013
Planet Money

What Actually Happens At The End Of 'Trading Places'?

Originally published on Mon July 22, 2013 10:41 am

Feeling good.
Paramount The Kobal Collection

It's been 30 years since Trading Places came out. And, to be honest, I never really understood what happened at the end of that movie. Sure, Louis Winthorpe (Dan Aykroyd) and Billy Ray Valentine (Eddie Murphy) get rich, and the Duke brothers lose all their money. But what actually happens? How does it work?

I recently talked to Tom Peronis, a guy who has spent years trading OJ options. He walked me through every step of Winthorpe and Valentine's plan.

1. Give The Duke Brothers Bad Information

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