Facebook share price have lost almost half of its value since the social networking company had its initial public offering, or IPO, in the spring. Hundreds of millions of followers apparently will not guarantee you success in the stock market - at least not in the short-term.
Many lesser-known companies have also plunged into the stock market this year in the hopes of raising lots of capital, but their prices have not plunged - they're doing better than Facebook.
People aren't getting much work done in parts of Europe, treading water there. Greek workers called a nationwide strike for today, protesting austerity measures. Last night, there were violent protests in Spain. Demonstrators launched a new movement dubbed Occupy Congress, surrounding the Spanish Parliament with a human chain before clashing with police.
Speed limits will be broken along the east coast this week. The culprit is Amtrak. Right now, the company's Acela express trains stay under 135 miles an hour between Philadelphia and New York. But this week, Amtrak is testing speeds of up to 165 miles an hour. It could be a sign that true high-speed rail service is coming to the U.S. - though it's not coming all that fast. NPR's Jeff Brady reports.
Good news this morning from the NFL. There were no bad calls by replacement officials last night. OK, there were no games last night. The much-maligned replacement refs don't take the field again until tomorrow night in Baltimore. They'll be officiating the Ravens/Cleveland Browns' game and you can probably expect a lot more scrutiny. The real refs and NFL owners did meet yesterday, but a settlement remains elusive.
NPR's sports correspondent Tom Goldman has been following developments. Tom, good morning.
NPR's business news business with some bad news for automakers.
Ford is cutting jobs in Europe. Sales in the European Union are down 12 percent this year; that's what a financial crisis will do for you. Bloomberg reports a few hundred workers, mostly in Germany and the United Kingdom, will be getting the axe. And the pioneering electric car maker Tesla Motors has announced that it is selling five million shares to raise much needed cash.
For many who work in the food service industry, coffee can make or break their day, according to a new survey. Many scientists and sales reps also said their day suffers if they don't have a cup.
Credit Stan Honda / AFP/Getty Images
Cooks and servers, scientists and sales reps — those are some of the workers who say they do better after drinking coffee, according to a new study. Nurses, journalists, teachers, and business executives also said they're more effective at work if they have coffee, in a survey commissioned by Dunkin Donuts and CareerBuilder.
Greece is in the fifth year of a painful recession, and it doesn't look like it's going to end anytime soon. One big problem the country faces is a shortage of strong companies that know how to compete on the world market. And nowhere is this more painfully apparent than in the challenges faced by the country's olive oil business.
Job seekers fill out applications Aug. 21 at a construction job fair in New York. Polls show voters want the presidential candidates to provide more details on how they would reduce unemployment, change tax policy and alter government spending.
Credit Seth Wenig / AP
As this presidential election year was kicking off, strategists were saying the focus would be on the economy. But now — even as absentee ballots are being filled in — the candidates are still dodging details about how to improve growth.
"President Obama doesn't have a plan," says Kevin Hassett, an economic adviser to Republican candidate Mitt Romney.
Jeffrey Liebman, an economic adviser to President Obama, says Romney has revealed no plan other than "going back to the failed policies of the past decade."