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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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.

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 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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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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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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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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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.

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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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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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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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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12:50 pm
Wed March 6, 2013

198,000 Jobs Added In February, Report Shows; 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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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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5:15 am
Fri March 1, 2013

Plastic Bag Ban Now in Effect

Say goodbye to the old-style plastic shopping bag.

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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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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9:41 am
Wed February 20, 2013

Law Change Makes It Harder To Unlock Cellphones

Originally published on Wed February 20, 2013 8:41 am

Maybe you don't like your mobile phone carrier, but you like your phone and you want to keep it but change providers. An obscure change in federal law makes it illegal to switch without permission from your carrier.

If you have, for example, AT&T, in order to switch to T-Mobile you have to unlock the phone, and AT&T can now stop you from doing that.

The change in the copyright law has some people upset, and they're petitioning the White House for a fix.

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7:55 am
Wed February 20, 2013

Austin Company NetSpend Acquired for $1.4 Billion

Austin-based NetSpend is being acquired for $1.4 billion.

One of the largest public companies in Central Texas is changing hands. Austin-based NetSpend Holdings Inc. has agreed to be acquired by Total System Services (TSYS) for around $1.4 billion.

TSYS is a payment processing company based in Columbus, Georgia. It provides credit solutions to financial institutions, businesses, and governments in more than 80 countries.

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4:35 pm
Thu February 14, 2013

HeyRide Bought Out by San Francisco Rival

The ride-sharing app HeyRide is now part of SideCar.
courtesy Heyride

SideCar, a San Francisco company that uses smartphones to connect car owners with people who need a ride, has acquired HeyRide, an Austin company that tried to do the same thing.

HeyRide received a cease and desist order in November from the city of Austin. The city said the startup operated like a cab service but didn’t take the same safety and regulatory precautions.

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6:12 am
Thu February 14, 2013

American, US Airways Boards Approve Merger

A US Airways jet rests on the tarmac near an American Airlines plane at Ronald Reagan Washington National Airport in Arlington, Virginia.
Jim Watson AFP/Getty Images

Originally published on Thu February 14, 2013 7:56 am

Update at 6:50 a.m. ET, Feb. 14: News Is Confirmed.

Statements confirming the news that directors of US Airways and American Airlines have agreed to merge the airlines have now been released by both companies.

American says:

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12:15 pm
Wed February 13, 2013

Listen: A Conservative, Business-Minded Approach to Immigration

Bailey with two long-term employees at one of his family's restaurants. The man on Bailey's left inspired him to co-found Texas Immigration Solution.

An event in Austin today aims to bring together Texas leaders in business, law enforcement and faith to talk about immigration.

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12:32 pm
Thu February 7, 2013

Austin Businesses Prep for Bag Ban

Don't be turned inside out by Austin's single-use bag ordinance, going into effect March 1.

Austin’s ban on some single-use bags goes into effect in just over three weeks. Today, area businesses will get training on the new bag rules.

The city is holding two training sessions for restaurants, grocery stores and retail stores: one this morning, and another one at 6 p.m.

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8:22 am
Thu February 7, 2013

Lawsuit Claims Dell Buyout is at Expense of Shareholders

The lawsuit says that founder and CEO Michael Dell's buyout is unfair to the computer company's stockholders.

Dell Inc. is facing a lawsuit. It was filed in Delaware on Wednesday.

The lawsuit accuses founder and CEO Michael Dell and other company directors of breaching their fiduciary duties by failing to maximize shareholder value and selling the company at the lowest price at the expense of shareholders.

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