Business

Business
3:26 pm
Mon December 16, 2013

Do Women CEOs Have a Tougher Time Pitching Start-Ups?

Dr. Hill working with a lab assistant at Spot On Sciences.
Credit Spot On Sciences

In baseball, the crowd holds its breath, waiting for the pitch.

In the business world, pitching is similar: suspense can be a killer, and ideas often get knocked down. Scrappy start-ups and venture capital abound in the modern economy, but success isn’t always guaranteed.

Dr. Jeanette Hill, CEO of Spot On Sciences and home blood test HemaSpot knows pitching – and it's nothing like what you’ve seen on "Shark Tank."

“You’ve got about 60 seconds, sometimes up to two minutes,” she tells KUT’s David Brown. “You have to get your idea across, you have to sell the audience … get it out there without stumbling.”

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Business
11:43 am
Fri December 13, 2013

Why In-N-Out Burger Pays More Than Other Fast Food Joints

Opening day at Austin's first In-N-Out Burger saw plenty of lines.
Credit Jorge Sanhueza-Lyon, KUT News

Austinites got a taste of California yesterday with the opening of the city’s first In-N-Out Burger at 45th and Airport. The drive thru is known for made-to-order burgers and an ordering system that allows you to micromanage your meal. (Want your bun extra toasted? Just ask.) 

In-N-Out Burger has no freezers. No microwaves. No heat lamps. And In-N-Out has been quietly going against another trend in the low-wage, low-benefit fast food industry: they're paying their employees much more than the industry standard. 

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Technology
11:27 am
Thu December 5, 2013

Texan Named to Twitter's Board of Directors

Texarkana-born Marjorie Scardino is the first woman appotinted to Twitter's board of directors.
flickr.com/financialtimes

Social media giant Twitter announced Thursday that Marjorie Scardino – Texarkana native, Baylor grad and former Pearson CEO – is joining its board of directors. Scardino is the first woman to be appointed to Twitter’s board.

Scardino received a little more than 4,000 shares of Twitter to serve on its board, according to SEC filings. She comes onboard after the company was criticized for not having women in high company positions. Twitter went public in November and is estimated to be worth more than $20 billion.

Scardino led educational publishing company Pearson for more than 10 years until 2012. During that time, she tripled its profits to a record $1.5 billion.

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Black Friday
4:39 pm
Mon December 2, 2013

Sluggish Start To Holiday Sales May Mean More Price Cuts

Shoppers crowd a Macy's store in New York on Thursday. Many retailers stayed open on Thanksgiving Day this year, a new holiday tradition that analysts say is here to stay.
John Minchillo AP

Originally published on Mon December 2, 2013 4:53 pm

Despite retailers offering Thanksgiving hours and more online sales, Americans still nervous about the economy spent less this long weekend than they did last year, according to preliminary estimates.

But analysts say retailers will be working harder to boost sales in coming weeks by offering even deeper discounts.

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Amazon Air
3:38 pm
Mon December 2, 2013

Amazon's Drone Has Many Asking 'What Could Go Wrong?'

Buzzing to a neighborhood near you? Amazon.com's Prime Air prototype may someday fly small packages right to customers' homes.
AP

Originally published on Mon December 2, 2013 5:37 pm

The news that Amazon is hoping to one day use semi-autonomous drones to deliver small packages to customers has many asking a familiar question:

What could go wrong?

Check this tweet:

"An Amazon drone!? What could go wrong?! 'They're autonomous' - this is how the Terminator started FYI..."

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Business
11:37 am
Wed November 27, 2013

Judge Smooths Path For American-US Airways Merger

Cleared for takeoff: That's the message from the "new" American Airlines, after a bankruptcy judge ruled it could finalize its merger with US Airways Wednesday.
Brandon Wade AP

Originally published on Wed November 27, 2013 12:22 pm

A U.S. judge says American Airlines can exit bankruptcy and join forces with US Airways Group, all but ensuring that their merger can take place within weeks. Wednesday's bankruptcy court ruling was one of the final hurdles for a huge merger that's been in the works for more than a year.

The ruling by Judge Sean Lane comes months after he gave his preliminary approval to the plan. The two companies are now planning to finalize their merger on Dec. 9, when they would combine to create the world's largest airline.

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Business
8:38 am
Tue November 26, 2013

With Shinola, Dallas Entrepreneur Brings Manufacturing Back to Detroit

facebook.com/shinola

Think of Detroit, and you likely think of a city past its prime.

But while Detroit faces an uphill climb since filing for bankruptcy in July, Heath Carr, CEO of Dallas-based Bedrock Manufacturing, has taken a decidedly bullish perspective on the city: His group is the parent company of Shinola, a company manufacturing American-made watches, bicycles, leather goods and more in the Motor City.

“If you come to Detroit, you spend time there, you get to know the people," Carr says. "The people that care about moving it forward, it's an energy you want to be part of.”

Listen to Carr speak with KUT's David Brown:

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Crime & Justice
6:01 pm
Sat October 19, 2013

JPMorgan Strikes Tentative $13B Mortgages Settlement

JP Morgan Chase & Company headquarters in New York.
Emmanuel Dunand AFP/Getty Images

Originally published on Sat October 19, 2013 4:28 pm

In what would be the largest such settlement in U.S. history, JPMorgan Chase & Co. has reportedly reached a tentative deal with the Justice Department that would see the bank pay $13 billion to settle civil charges related to wrongdoing by some of its units just before and during the housing crisis.

The deal, sources tell news outlets including NPR, would not absolve JPMorgan from possible criminal liability.

Word of the tentative agreement emerged around 3 p.m. ET. Saturday. We posted when the news broke and followed with background and more details.

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Business
3:09 pm
Tue October 15, 2013

Majority of Texas Fast-Food Workers on Public Assistance

Texas has the seventh-largest percentage of front-line fast-food workers on public assistance among 24 states included in a new report.
flickr.com/keoni101

Fifty-nine percent of front-line fast-food workers in Texas rely on public assistance programs such as food stamps and Medicaid to support their families, according to a report released on Tuesday.

Nationally, more than half – 52 percent – of the families of front-line fast-food workers use at least one public assistance program, compared with a quarter of the total workforce, according to the report. The research was sponsored by the University of California, Berkeley, Center for Labor Research and Education and the University of Illinois at Urbana-Champaign Department of Urban & Regional Planning.

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Economy
3:16 pm
Wed October 9, 2013

How a Mexican Boom Could Be the Next Big Thing for Texas

This year, Mexico's economy is predicted to grow at a rate of 1.7 percent. Joseph Parilla of the Brookings Institution says that's not the whole story.
flickr.com/jstephenconn

This year, economists in Mexico are predicting an anemic growth rate for the country of 1.7 percent. Some say the number could be closer to 1.4 percent. However, longtime Mexico watchers, including Brookings analyst Joseph Parilla, say that’s not the big story.  

“In the Mexican case, they had robust growth last year and if you look past 2013, projections are still relatively good,” Parilla says. “Growth rates are between 3.5 and 4 percent over the next five years. I think the general consensus is while 2013 will prove a difficult year for the Mexican economy, there should be a pretty quick rebound after."

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Austin City Limits Fest
11:59 am
Wed October 9, 2013

The Austin City Limits Ticket Crash of 2013

Day One of 2012's Austin City Limits fest. With the festival's expansion, hundreds of tickets for ACL's second weekend are available on the secondary market.
KUT

Update: Austin City Limits Music Festival organizers just announced tickets are officially sold out for their second weekend. But tickets are still available on the secondary market, although they're selling fast there too.

Reseller StubHub currently has tickets left. Tickets for ACL’s second showing are also still for sale on Craigslist, with most passes going for well under the festival’s $225 face value. Austin City Limits Music Fest kicks back off this Friday.

Original story (Oct. 4): Don’t have tickets for the 2013 Austin City Limits Music Festival? Surprisingly, you’re in luck.

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Technology
7:05 am
Tue October 8, 2013

Startup Week: What Does Austin Need to Become a Legitimate Tech Hub?

Capital Factory founder and executive director Joshua Baer says Austin is in the cycle to becoming a tech hub.
Laura Rice, KUT News

It’s Austin Startup Week – when the technology community invites people to visit to see why they should start their business in Central Texas. But is Austin a legitimate tech hub?

KUT’s Laura Rice put that question to Joshua Baer – the founder and executive director of the tech startup incubator Capital Factory:

Is Austin a Legitimate Tech Hub?

"I meet people every day and every week who are moving here, that picked up and are moving their whole company here from Silicon Valley or from New York or from somewhere else. But these things don't develop overnight. They don't even develop over the course of one or two years. Really, the lifecycle of a tech company is five to ten years. So to get through a few cycles of that, you're talking 20 to 30 years. That's how long it takes to build up a tech community. Silicon Valley? They've had that going for a long time. Austin? We're still a little earlier in that cycle – but we're in that cycle."

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Tesla Motors
1:19 pm
Thu October 3, 2013

Tesla's Stock Gets Burned After Car Fire And Downgrading

A Tesla Model S at the 2013 North American International Auto Show in Detroit on Jan. 15.
Stan Honda AFP/Getty Images

Originally published on Thu October 3, 2013 12:26 pm

High-flying billionaire Elon Musk's Tesla Motors has seen its shares skid the past couple days because they've been downgraded by analysts and because of a YouTube clip showing one of the all-electric luxury cars engulfed in flames earlier this week.

Just before noon ET, a share of Tesla was trading around $169.50 — down about 6.5 percent for the day and $25 (13 percent) below its 52-week high of $194.50.

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Apple
12:57 pm
Mon September 23, 2013

Apple Sells 9 Million New iPhones In Opening Weekend

Apple says it has sold 9 million iPhone 5s and 5c models since their launch on Friday. Here, staff members at an Apple retail store in Beijing cheer a customer after he bought a new iPhone.
Andy Wong AP

Originally published on Mon September 23, 2013 2:29 pm

Sales of its new iPhone 5s and 5c models have surpassed other iPhone releases and exceeded initial supply, Apple says. The company says it has sold 9 million of the phones since their launch on Friday and that "many online orders" will ship in coming weeks.

"This is our best iPhone launch yet — more than nine million new iPhones sold — a new record for first weekend sales," Apple CEO Tim Cook said in a Monday press release. He added that "while we've sold out of our initial supply of iPhone 5s, stores continue to receive new iPhone shipments regularly."

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Business
4:37 pm
Wed September 18, 2013

Photos: Inside Austin's First Trader Joe's

Trader Joe's is opening its first Austin store this week.
Jorge Sanhueza-Lyon, KUT News

Grocery retailer Trader Joe’s is opening its first Austin store on Friday.

The store on Bee Caves Road is the first of three planned for the Austin region. A second location is planned downtown for the redeveloped Sealholm area. And today the chain announced it will open a third Austin location next year at the Arboretum Shopping Center.

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Dell
9:36 am
Thu September 12, 2013

Dell Shareholders OK Buyout Offer (Update)

Michael Dell at the Web 2.0 Summit in 2011. The Dell founder's bid to buy back his namesake company is expected to be successful.
flickr.com/kevinkrejci

Update: Dell stockholders approved Michael Dell's buyout offer this morning, according to a preliminary vote tally.

“I am pleased with this outcome and am energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions,” Michael Dell said in a press release announcing the vote.  You can read that release here

Original post (9:06 a.m.): Dell shareholders are set to vote this morning on a nearly $25 billion buyout offer from founder Michael Dell. After several postponements, this time, the deal is expected to pass.

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Business
1:11 pm
Mon September 9, 2013

Luxury Retailer Neiman Marcus Sells For $6 Billion

The Chicago skyline is reflected in the exterior of Neiman Marcus on Michigan Avenue in Chicago in a file photo from 2009. The luxury retailer sold for six billion dollars on Monday.
M. Spencer Green AP

Originally published on Mon September 9, 2013 2:32 pm

Two large investors — Ares Management LLC and the Canada Pension Plan Investment Board — have reached a deal to purchase Neiman Marcus for $6 billion, the companies said Monday. The two buyers will hold equal shares of Neiman, which is based in Dallas.

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DELL
10:17 am
Mon September 9, 2013

Carl Icahn Won't Fight Dell Deal Any Longer

Dell founder Michael Dell's plan to take the computing company private has had a major stumbling block removed.
Stuart Isett/Fortune Brainstorm Tech

Investor Carl Ichan says he will not longer fight Michael Dell’s bid to take his namesake company private.

For the last several months, Michael Dell – who began selling PCs from his dorm room at the University of Texas – had been attempting to take the publicly-traded company back under private control. But his buyout bid, arranged though investment firm Silver Lake, had been fought tooth and nail by Ichan, a major Dell stockholder. Ichan said the bid undervalued the company.

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Business
2:39 pm
Fri September 6, 2013

Heard of 'Buy One, Give One?' This Austin Company Helps Pay For a Child's Education Instead

Austin-based ESPEROS sells canvas backpacks and totes. The company donates half its profits to developing countries to pay for a child's education for one year.
ESPEROS

Austin resident and UT grad Oliver Shuttlesworth had just returned home from a series of trips to Central America, but he couldn’t shake the stories he heard from people in the region.

“As I visited with the families I was working with, I heard a recurring theme: the desire for their children to receive an education and to create a better future than they enjoyed themselves,” Shuttlesworth says.

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Business
2:50 pm
Thu August 29, 2013

Austin Fast Food Workers Strike For Higher Wages

Fast food workers and supporters rallied this afternoon in support of a $15 an hour wage.
Filipa Rodrigues for KUT News

Some Austin fast food workers are joining a nationwide strike for higher wages. Employees from Wendy’s, Jack in the Box and Long John Silver’s gathered in protest this afternoon on Guadalupe Street near the UT campus.

Greg Lee works at Long John Silver’s. He makes $7.25 an hour.

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