Business

Business
1:36 pm
Fri May 31, 2013

No Smoking Outside Starbucks Shops Starting Saturday

Don't sit down here and have a smoke with your coffee, Starbucks says.
Mark Memmott NPR

Originally published on Fri May 31, 2013 12:17 pm

Starbucks is moving its smoking ban outdoors.

Starting Saturday, according to signs posted in its more than 7,000 shops across the U.S. and Canada, "the no-smoking policy ... will include outdoor areas."

"Smoking will be restricted within 25 feet of the store and within outdoor seating areas," the notices read.

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Business
5:15 pm
Thu May 30, 2013

City of Austin Gets High Marks for Tax Incentive Disclosure

A watchdog group says Austin is exemplary at letting the public know how business tax subsidies are performing.
KUT News

You know those property tax breaks that Austin uses to lure companies like Apple and Visa to town? A Washington, D.C., group says the city is doing a pretty good job of letting us know how those deals pan out.

The nonprofit research center Good Jobs First gave Austin’s program 100 out of 100 for disclosing annual activity online and for providing third-party audits of each company receiving taxpayer incentives. 

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Business
2:41 pm
Thu May 30, 2013

After Apparent Suicide, Austin Financial Advisor Investigated

S. Mark Powell

Financial advisor S. Mark Powell ran the Austin office of money management firm Atlantic Trust until his death on May 16.

Powell's body was found in a cemetery in Mason County, where the cause of death has not been determined.  Sheriff Buster Nixon says that a final ruling will be made after toxicology tests come back, but that "everything (he's) seen is consistent with a self-inflicted wound."

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Texas
9:00 am
Tue May 28, 2013

19th Century Windmill Company Seeks 21st Century Customers

The San Angelo company still builds windmills from a 1933 design.
Mark Dewey

Windmill farms that generate electric power are now a familiar site across west Texas. But before the giant turbines took over, their little cousins ruled the plains. Small windmills pumped water to settlers, pioneers, and ranchers in the Lone Star state. The biggest windmill company, Aermotor, started in Chicago in the 1800s, and now pumps out windmills from its San Angelo headquarters and factory.

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Austin
7:18 pm
Mon May 20, 2013

The Mayor's 'Office:' Leffingwell Welcomes Athlead to Austin

Cast members of "The Office." Mayor Lee Leffingwell capitalized on Austin's mention in the series finale.
Chris Haston/NBC

Last Thursday, 5.4 million fans watched the series finale of NBC’s Emmy-winning comedy “The Office.” Who knew that one of those fans was Mayor Lee Leffingwell – and that he would take the finale’s Austin-centric ending so seriously?

The longrunning series ended with Athlead – a fictional sports promotions company lead by John Krasinski’s character Jim Halpert – was moving business to Austin. This revelation earned a humorous backing from Mayor Leffingwell. He released a statement on his Facebook page giving a thumbs up to Austin’s latest corporate relocation.

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Business
9:41 am
Mon May 20, 2013

Pledging Not To 'Screw It Up,' Yahoo Seals Deal For Tumblr

They're coming together: Yahoo will pay $1.1 billion to acquire Tumblr.
Fred Dufour AFP/Getty Images

Originally published on Mon May 20, 2013 8:06 am

The news that broke Sunday is now official.

Yahoo confirmed early Monday morning that it is buying Tumblr in a deal worth about $1.1 billion. "Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo added.

In its statement announcing the deal, Yahoo says that:

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Business
11:35 am
Wed May 15, 2013

Chamber of Commerce Looks to Sell Austin Internationally

The State Department and Austin Chamber of Commerce welcomed 26 ambassadors this week in an effort to bring more business to the Capital City.
Andrew Weber for KUT News

The Austin Chamber of Commerce is looking to sell Austin abroad.

Yesterday, the chamber and the State Department invited 26 ambassadors from around the world joined top tech companies like Google, Apple, Samsung and AT&T at the Driskill Hotel, in a tour aimed at bringing more international businesses to Austin.

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Business
2:34 pm
Mon May 6, 2013

U.S. Senate Poised To Approve Online Sales Tax Bill

Supporters of the Marketplace Fairness Act say it will level the playing field between online retailers and traditional brick-and-mortar stores.
Mike Coppola Getty Images for eBay

Originally published on Mon May 6, 2013 6:24 pm

Update at 7:00 p.m.:

The Senate has passed the Marketplace Fairness Act by a vote of 69 to 27, The Associated Press reports.

Here's our original post:

The Senate is expected to approve a measure on Monday that would end tax-free shopping for online purchases, a move that concerns many e-retailers but has the support of the states that stand to collect billions in previously lost revenues.

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Austin
10:54 am
Mon April 22, 2013

The Top 10 Austin Top 10 Lists

The Internet's list makers ceretainly haven't given up on Austin.
flickr.com/dingatx

If you asked the Internet, it might tell you that Austin's a hipster-loving, small business-starting, traffic-riddled, undiscovered yet overrated place that keeps it weird. The web's traffic-baiting list-makers rank Austin as a leader in categories from fitness friendliness to porn consumption per capita.

But you're not asking the Internet, you're asking KUT News. And, as has been done a couple times now, KUT News has compiled a list of lists honoring, tweaking and trashing Austin over the past few months. Here's the third installment of The Top 10 Austin Top 10 Lists:

  • Big time for small business: Business website Thumbtack.com saluted Austin for business-friendly regulations and low licensing fees, ranking the city tops in the U.S. for small businesses. But the crowning stems partially from the state’s spartan regulation, as the survey also named Dallas-Fort Worth and San Antonio in its top 10.
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Texas
4:09 pm
Wed April 17, 2013

Perry Goes After Illinois Businesses With Radio Campaign

Gov. Rick Perry is trying to get companies to move to Texas.
Filipa Rodrigues, KUT News

Gov. Rick Perry is trying to convince more businesses to move to Texas. Now he’s targeting Illinois with aggressive print ads comparing the business climate in that state to a “burning building on the verge of collapse.”

Today, Perry also launched a 30-second radio ad on four stations in Chicago.

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Business
2:06 pm
Wed April 10, 2013

Postal Service Will Keep Saturday Mail Delivery After All

A Chicago postal worker protests in support of Saturday mail delivery in February.
John Gress Getty Images

Originally published on Wed April 10, 2013 1:50 pm

The U.S. Postal Service has backed off a plan to halt Saturday mail delivery, saying that Congress has forced it to continue the service despite massive cost overruns.

In a statement released Wednesday, the USPS Board of Governors said restrictive language included in the latest Continuing Resolution, which keeps the government operating until September in lieu of a budget, prevents it from going ahead with the plan.

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Business
4:03 pm
Fri April 5, 2013

U.S. Sen. Ted Cruz Discusses Business with Austin Chamber (Update)

Senator Ted Cruz spoke to the Austin Chamber of Commerce today.
KUT News

Update: U.S. Senator Ted Cruz says he's not giving up his attempts to repeal the Affordable Care Act.

Cruz spoke at a sold out luncheon hosted by the Austin Chamber of Commerce Friday. Topics ranged from  healthcare reform and the economy to Cruz's cowboy boots and reputation as a "bomb thrower."

Cruz deflected the question about his "bomb throwing" reputation and instead touted his ability to follow through on campaign promises and get things done in Washington. 

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Business
2:22 pm
Fri April 5, 2013

What's Next for RunTex? Retail May Become Less of a Priority

RunTex owner Paul Carrozza says he's not sure if selling shoes will remain the focus of his business.
twitter.com/RunTex

RunTex is losing its prime store location on Riverside Drive and South First Street. The Austin-American Statesman reports the company is being evicted because they didn’t pay the $20,000/month rent. But there’s also the fact that the location is reportedly set to become a mixed-use development.

As far as criticism of his business decisions go, RunTex owner Paul Carrozza told KUT News he’s learned a “valuable lesson and an expensive lesson around expansion and what it takes to go from one store to five stores.”

Looking forward, Carrozza says RunTex will continue its commitment to fitness and creating a healthier Austin. He says that may mean that retail sales become less of a priority.

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Economy
4:02 pm
Thu March 28, 2013

S&P 500 Closes at All Time High

A trader on floor of the New York Stock Exchange on March 25, 2013. U
Richard Drew AP

Originally published on Thu March 28, 2013 3:31 pm

The Standard & Poor's 500 stock index broke new ground today, closing at 1,569, an all-time high that erased the record set on Oct. 9, 2007.

The S&P joins the Dow Jones Industrial Average, which broke its 2007 record earlier this month.

Both indices have now recovered all the losses they suffered during the Great Recession.

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Economy
8:14 am
Thu March 28, 2013

Slow but Better Than Thought: 4th Quarter GDP Revised Up Again

Originally published on Thu March 28, 2013 9:22 am

The U.S. economy grew at a 0.4 percent annual rate in fourth-quarter 2012, the Bureau of Economic Analysis reported Thursday morning.

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Travel
11:24 am
Fri March 15, 2013

More Problems Aboard Carnival Cruise Ships

The Carnival Dream docked in St. Thomas, U.S. Virgin Islands, in December 2010.
Andy Newman AP

Originally published on Fri March 15, 2013 12:53 pm

For the past month, management at Carnival Cruise Lines has been in a nearly constant state of damage control.

In the past week alone, three of the cruise line's giant floating playgrounds have experienced embarrassing malfunctions that have at least inconvenienced, if not angered, many passengers.

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Economy
12:50 pm
Wed March 6, 2013

198,000 Jobs Added In February; January Growth Revised Upward

The scene at a job fair in New York City on Feb. 28.
Lucas Jackson Reuters /Landov

Originally published on Wed March 6, 2013 8:00 am

There were 198,000 jobs added to private employers' payrolls in February, according to the latest ADP National Employment Report — a privately produced snapshot of the employment picture that's sometimes a signal of what the Bureau of Labor Statistics will say when it releases its data from the same month.

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Economy
3:32 pm
Tue March 5, 2013

14,253.77: Dow Rallies, Finishing In Record Territory

A trader on the floor of the New York Stock Exchange earlier this week.
Brendan McDermid Reuters /Landov

Originally published on Tue March 5, 2013 4:36 pm

Update at 4:09 p.m. ET. A New Record:

The Dow Industrials finished in record territory today. Gaining 89 points, it closed at 14,253.77, its highest level since Oct. 9,2007.

That is, the Dow has recovered all the losses it suffered during the Great Recession.

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austin
5:15 am
Fri March 1, 2013

Plastic Bag Ban Now in Effect

Say goodbye to the old-style plastic shopping bag.
courtesy flickr.com/adav

If you’re going to the grocery store or planning a quick stop at the convenience store today, you’ll need to bring your own bag. Most businesses within the Austin city limits will have to abide by a new rule that prohibits them from providing paper or plastic single-use bags to customers.

While it will take getting used to, the switch to reusables that goes into effect today is good news to some Austinites.

Longtime environmentalists celebrated the end of an era with a party at Cherrywood Coffeehouse in Austin this week. Featured artist Bill Oliver pushed for a bag ban for decades.

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Business
5:56 pm
Wed February 20, 2013

Report Finds EU Trade Pact Would Bring Texas Billions

A U.S.-European trade agreement could increase imports and exports.
courtesy Port of Houston

The deputy head of mission of the British Embassy is in Austin this week trying to raise support for a free-trade deal between the U.S. and the European Union.

At the Texas Capitol today, the official, Phillip Barton, said he and the United Kingdom want to make sure the deal is as comprehensive as possible.

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