Business

6:28pm

Tue April 2, 2013
The Two-Way

No April Fool's Joke: Samoa Air Charges Passengers By Weight

Originally published on Tue April 2, 2013 9:00 pm

A screen grab of Samoa Air's website.
www.samoaair.ws

OK, we've checked the date, and it's April 2, but this story from the Pacific island nation of Samoa left us scratching our heads: Samoa Air says it's charging passengers based on what they weigh.

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5:17pm

Tue April 2, 2013
Business

For Legal Pot Sellers, A Big Tax Problem

Originally published on Tue April 2, 2013 9:56 pm

Erica Freeman of Choice Organics weighs medical marijuana for a customer.
Grace Hood for NPR

An obscure tax code provision crafted for drug dealers is giving state-licensed medical marijuana dispensaries a headache.

In Colorado, federal income tax rates for dispensaries can soar as high as 70 percent because of a tax code section that does not allow businesses to claim certain deductions.

The section is known as 280E, and it was originally written for illegal drug traffickers. But today it's a thorn in the side of licensed dispensary owners like Erica Freeman.

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12:47pm

Tue April 2, 2013
The Two-Way

In Spain, A Mattress That Lets Your Money Rest Easy

Originally published on Tue April 2, 2013 12:57 pm

My Mattress Safe retails for about $1,120.
Courtesy of Descanso Santos Suenos

Spaniards wary of trusting their life savings to their country's shaky banking system can now buy a mattress that has an armored safe equipped with a keypad combination lock hidden in one end.

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11:59am

Tue April 2, 2013
Shots - Health News

The Hidden Limitations Of Health Savings Accounts

Originally published on Tue April 2, 2013 12:20 pm

In order to get the tax advantages of a health savings account, the health plan it's linked to has to meet certain criteria.
iStockphoto.com

Health plan deductibles keep getting higher — the proportion of workers with a deductible that topped $1,000 for single coverage nearly tripled in the past five years, to 34 percent.

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9:47am

Tue April 2, 2013
The Two-Way

Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012

Fannie Mae's headquarters in Washington, DC.
Chip Somodevilla Getty Images

The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.

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5:18am

Tue April 2, 2013
Business

Business News

Originally published on Tue April 2, 2013 6:42 am

Monday marked the start of the application period for H1B visas — those are the work permits granted to 85,000 skilled foreigners each year. Many of them work in the high-tech industry. And for the first time since the financial crisis hit in 2008, the quotas for the H1B are expected to be filled in a single week.

5:18am

Tue April 2, 2013
Around the Nation

Budgets Cuts Force Some Air Traffic Control Towers To Close

Originally published on Tue April 2, 2013 5:31 am

David Greene talks to Yvette Aehle, director of the Southwest Georgia Regional Airport, about her plans to shut down the airport's air traffic control tower. Because of sequestration, the FAA will no longer pay for air traffic controllers at 144 smaller airports.

5:18am

Tue April 2, 2013
Business

The Last Word In Business

Originally published on Tue April 2, 2013 6:47 am

Paco Santos' mattress company started selling My Mattress Savings Bank last month. The price tag is a little more than $1,000. His initial supply sold out in just 24 hours.

5:18am

Tue April 2, 2013
Economy

Economic Success Propels Germany Toward Europe's Political Power House

Originally published on Tue April 2, 2013 5:54 am

Steve Inskeep talks to Zanny Minton Beddoes, of The Economist, about the long-term impact of the Cyprus crisis on European economies. Beddoes offers the view from Germany. That country is now turning its attention to its own general elections in September.

5:18am

Tue April 2, 2013
Business

Novartis Ruling Reverberates Past India's Borders

Originally published on Tue April 2, 2013 5:28 am

India's Supreme Court says drug maker Novartis can't hold onto its patent for the pricey cancer drug Gleevec simply by tweaking its chemical formula. That means generic drug makers can keep making a form of the drug at a tenth of Novartis's price — for the Indian market and for other low- and middle-income markets. Consumer advocates call it a major advance for access to generic drugs. Novartis and drug industry allies say it will chill companies' willingness to produce innovative products.

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