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3:30 pm
Sat June 16, 2012

State Of The Unions: Labor And The Middle Class

Credit Mario Tama / Getty Images
Occupy Wall Street protesters joined with unions in New York on May 1, a traditional day of global protests in sympathy with unions and leftist politics.

Originally published on Sat June 16, 2012 7:05 pm

For many full-time employees in the United States, the five-day work week, paid overtime and holidays are expected benefits. This wasn't always so, and many workers' benefits today are the achievements of labor unions.

Just five decades ago, unions were on the frontline of the fight for the rights and wages of the middle class. But today, unions are on the decline.

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Law
2:58 pm
Fri June 15, 2012

Hedge Fund Tycoon Convicted In Insider Trading Case

Originally published on Fri June 15, 2012 4:25 pm

Transcript

MELISSA BLOCK, HOST:

Former Goldman Sachs board member Rajat Gupta was found guilty today of conspiracy and securities fraud. Prosecutors had accused Gupta of passing on inside information about the firm to hedge fund tycoon Raj Rajaratnam. NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: The verdict came on only the second day of deliberations. Gupta was acquitted of two charges but convicted of four others. The 63-year-old Indian-born Gupta is the most prominent business leader convicted so far in the government's ongoing insider trading investigation.

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Planet Money
12:58 pm
Fri June 15, 2012

The Karl Marx MasterCard Is Here. It Needs A Tagline.

Credit via Sparkasse Chemnitz
The Karl Marx credit card.

Originally published on Fri June 15, 2012 3:48 pm

The German bank Sparkasse Chemnitz recently launched a Karl Marx credit card. The bank let people vote online for 10 different images, and Marx was the "very clear winner," beating out a palace, a castle and a racetrack, among others. Reuters has more on the story.

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The Two-Way
10:10 am
Fri June 15, 2012

Rajat Gupta Guilty In Insider Trading Case

Credit Emmanuel Dunand / AFP/Getty Images
Rajat Gupta on Wednesday as he arrived at the federal courthouse in Manhattan.

"Rajat Gupta, who reached the pinnacle of corporate America as managing partner of McKinsey & Co. and was a director at Goldman Sachs Group Inc. and Procter & Gamble, was convicted by a federal jury of leaking inside information to hedge-fund manager Raj Rajaratnam," Bloomberg News writes.

The Associated Press recaps the case:

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Shots - Health Blog
10:09 am
Fri June 15, 2012

Insurers Wait For Verdict On Health Care Law And Their Bottom Line

Credit John Rose / NPR
Demonstrators both for and against the health care law turned out on the steps of the Supreme Court on March 27, the second day of oral arguments before the court.

Originally published on Fri June 15, 2012 4:25 pm

All eyes these days are trained on the U.S. Supreme Court, which is expected to rule sometime this month on the constitutionality of the Affordable Care Act.

But some people are waiting more anxiously for the court to rule than others. Among them are those with a major financial stake in whether the law goes forward or not and if so, in what form.

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The Two-Way
7:13 am
Fri June 15, 2012

Central Banks 'On Standby' As Greek Elections Loom

The European Central Bank "is on standby to keep banks flush with liquidity" if Greeks effectively vote on Sunday to support politicians who want to reject austerity measures and pull the nation out of the eurozone, The Financial Times writes this morning.

The ECB joins "a global chorus of central bankers pledging support ahead of Sunday's elections," the FT adds.

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Economy
7:12 am
Fri June 15, 2012

Three Frightening Phrases You Should Understand

Originally published on Wed June 20, 2012 9:42 am

The economy has so much going for it: low inflation, low interest rates, affordable homes, falling gasoline prices and 27 straight months of job growth. Good times, no?

No.

The economy is slowing, but not because of current conditions. The slowdown reflects the fear of what may be coming next. Economists say employers and investors are paralyzed by the uncertainty surrounding three huge problems: one in the United States, another in Europe and the third in China.

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Business
6:36 am
Fri June 15, 2012

Yammer Agrees To $1.2 Billion Sale To Microsoft

Originally published on Fri June 15, 2012 8:56 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with a new owner for Yammer.

(SOUNDBITE OF MUSIC)

GREENE: Yammer, the social networking company has agreed to sell itself to Microsoft for $1.2 billion, according to The Wall Street Journal. Yammer is often called Facebook for the workplace. Co-workers can use it to share files, message one another and organize meetings and events.

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Economy
6:36 am
Fri June 15, 2012

Markets Encouraged By Plans To Calm Eurozone Panic

Originally published on Fri June 15, 2012 8:56 am

Transcript

RENEE MONTAGNE, HOST:

And coming to the end of a tumultuous week of global economic news, we're seeing rising shares Asia, plus the euro coming close to a three-week high.

As NPR's Philip Reeves reports, markets are encouraged by reports that the world's central banks have come up with a plan to try to calm panic in the eurozone.

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Business
6:36 am
Fri June 15, 2012

Domain-Name Expansion Prompts Rush Of Applications

Originally published on Fri June 15, 2012 8:56 am

Transcript

RENEE MONTAGNE, HOST:

Our last word in business today is dot free for all.

The group that governs Internet names is allowing for more top-level domain names - that's the technical term for endings like dot-com and dot-net. Nearly 2,000 applications poured in from companies hoping to grab domain name endings like dot-app, dot-eat and dot-baby.

Google went all out, spending more than $18 million to apply for the rights to obvious endings like dot-google and dot-goog. But Google also applied to own dot-love. Hmm.

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The Two-Way
6:12 am
Fri June 15, 2012

Coca-Cola Returning To Myanmar; Now It Sells In All But 2 Nations

Credit Scott Olson / Getty Images

Originally published on Fri June 15, 2012 6:29 am

Asia
2:44 am
Fri June 15, 2012

As China's Economy Cools, World May Feel A Chill

Credit AFP/Getty Images
A Chinese worker operates a machine at a factory in Binzhou in northeast China's Shandong province. China's exports and imports shot up in May year-on-year, the customs agency said on June 10, defying expectations amid a slowdown in the world's second largest economy.

Originally published on Fri June 15, 2012 9:14 am

In recent months, economic growth in China has not only slowed — it's slowed faster than most people expected. Last week, for the first time since the depths of the global financial crisis, the government actually cut lending rates to try to spur growth. All of this has people wondering: Where is the world's star economy headed?

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Planet Money
2:43 am
Fri June 15, 2012

Can Lincoln Be Cool Again?

Credit courtesy Lincoln
An ad for the 1965 Lincoln Continental.

Originally published on Fri June 15, 2012 8:56 am

In the car business, Lincoln once stood as the pinnacle of luxury. Frank Sinatra drove a Lincoln. So did the Shah of Iran. In the U.S., the presidential limo was a Lincoln.

The brand peaked with the 1961 Lincoln Continental, a beautiful, innovative car that stood for style, individuality and sophistication.

But after the '60s, Lincoln started on a long, slow decline that mirrored the slide of the American auto industry.

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Economy
3:44 pm
Thu June 14, 2012

New Schedules Push Graveyard Shift Off The Clock

Credit Scott Olson / Getty Images
A worker builds cars on the assembly line at Ford's Chicago Assembly plant, which has adopted the "three crew" work schedule. The new third shift can increase efficiency in factories, but it can also wreak havoc on sleep needs and home lives.

Originally published on Thu June 14, 2012 8:54 pm

As car companies struggle to meet growing demand, the third shift is making a comeback. But many factories running on three shifts are doing it differently from in the past. And that new "three crew" shift pattern could make what's normally a hard job even harder.

At Ford's Michigan Assembly Plant in Wayne, employees work 10-hour shifts four days a week. The so-called A crew gets days, while the B crew gets afternoons. But the C crew shift rotates its start time every week. On Fridays and Saturdays, workers start at 6:00 a.m. On Mondays and Tuesdays, they start at 4:30 p.m.

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American Dreams: Then And Now
3:11 pm
Thu June 14, 2012

Nailing The American Dream, With Polish

Originally published on Thu June 14, 2012 6:25 pm

If you've had a manicure in California, odds are the person at the other end of the emery board was of Vietnamese heritage.

Vietnamese immigrants now dominate California's nail-care industry — and make up a significant percentage of all manicurists nationwide.

The story began with a hurried immigration after the fall of Saigon almost four decades ago.

Sparked by the interest of a group of refugees and the help of a Hollywood star, the demand for affordable manicures quickly became the foundation of the American dream for many Vietnamese newcomers.

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