Federal regulators have filed civil charges against former New Jersey Governor Jon Corzine in connection with the failure of his commodities firm, MF Global. The government says Corzine failed to stop the firm from dipping into customer funds during a financial crisis in October 2011.
Anyone who's seen a North Carolina license plate knows the state proudly claims itself as the site of the first airplane flight. But this week, Connecticut said not so fast. The state passed a law declaring it was home to the first flight.
Federal regulators are suing former MF Global Holdings CEO Jon Corzine, accusing him of not properly supervising the company that filed for bankruptcy back in 2011. The Commodity Futures Trading Commission says Corzine failed to keep money that belonged to the brokerage's customers from being used to cover MF Global's obligations.
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Farmers work at the mercy of three forces that are largely outside their control: weather, markets, and government. The weather has been good in many parts of the country and the markets are up. But government remains the wild card. Congress failed to pass the Farm Bill, the huge package of legislation that lays out years of food policy. And that leaves farmers in limbo.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
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And I'm Audie Cornish.
He was a governor, a senator and a Wall Street success story. Now, Jon Corzine faces federal civil charges. Regulators filed them today in connection with the collapse of Corzine's commodities firm, MF Global. The government says he failed to stop the firm from misusing customer funds during the financial crisis in October 2011.
Kid Rock is tired of scalpers taking tickets away from his biggest fans.
One way to stop that: Raise ticket prices. If Kid Rock charged more for his tickets, scalpers wouldn't be able to sell them at such a big markup.
But Kid Rock doesn't want to raise prices.
"I don't want to break you by coming to see me, " he says. "I want to make as much money as I can, but I don't need to drive around in a tinted down Rolls-Royce or Maybach and hide from people because I felt like I ripped them off."
The U.S. suspended some trade benefits to Bangladesh on Thursday, citing unsafe working conditions. But in the near term it appears unlikely to have a major impact on the country's crucial garment industry.
Here's why: Bangladesh was suspended from the Generalized System of Preferences (GSP) program, so U.S. duties will rise on a range of items from tobacco to plastic. But this program doesn't cover garments — Bangladesh's main export to America.
In case you missed it Monday, we're rebooting our technology blog to focus on the intersection of innovation and culture. The updated approach both widens our view of technology — for example, two-ply toilet paper was innovative at one point — and sharpens our gaze. You won't find general tech business news in this space anymore.
American businessman Chip Starnes finally left his factory in China on Thursday after he and a union negotiator worked out severance payments for Chinese employees.
Starnes had been stuck inside his medical supply parts factory since last Friday. That's when workers, fearing they were all going to be laid off and that the company wasn't going to compensate them fairly, blocked all of the exits out of the plant. Starnes couldn't get out.