Business

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.

Read more
Economy
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.

Read more
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.

Read more
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.

Read more
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.

Read more
Business
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.

Read more
Business
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.
netspend.com

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.

Read more
Business
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.

Read more
Business
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:

Read more
Immigration
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.
facebook.com/TexasImmigrationSolution

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

Read more
Austin
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.
flickr.com/slice

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.

Read more
Austin
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.
flickr.com/oracle_images

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.

Read more
Business
10:56 am
Tue February 5, 2013

Michael Dell Taking Company Private (Updated)

It's showtime: Michael Dell at a 2012 Dell World event.
flickr.com/dellphotos

Update: Dell's announcement this morning has thousands of Austin employees wondering how going private will affect them.

John Doggett is a Senior Lecturer at UT’s McCombs School of Business. He expects layoffs at Dell.

“I expect they will substantially reduce their PC group by most likely getting rid of consumer PCs and anybody in that group may lose their job," Doggett said. "They will also get out of their investor relations group because they don’t have any investors to talk to in the public. They probably will also not do any or many acquisitions... And I expect those who can leave, are going to leave. There’s going to be an exodus if they feel that their job is at risk."

Michael Dell sent an email out to employees shortly before 8:30 this morning.

Read more
Politics
4:33 pm
Mon February 4, 2013

On the Air, Perry Looks to Lure California Businesses to Texas

Gov. Perry is calling for California businesses to take advantage of the low tax rates of Texas.
Filipa Rodrigues, KUT News

Governor Rick Perry has made a habit of saying businesses from other states would be better off in Texas. Now, he’s bringing that message to the airwaves in California.

Governor Perry is courting Golden State companies with a 30 second radio spot that will run for the next week on stations in 5 cities – including San Francisco, Los Angeles and San Diego. His message, as always, focuses on the low-tax, low-regulation climate in Texas.

Read more
Labor
12:57 pm
Wed January 23, 2013

Union Membership Continues Decline; Now At Lowest Level Since 1930s

Originally published on Wed January 23, 2013 11:34 am

The Bureau of Labor Statistics says union membership continues to decline in the United States.

In 2012, American Union membership rate dropped to 11.3 percent from 11.8 percent in 2011. As The Washington Post reports, that's the lowest level since the 1930s.

Read more
Arts and Culture
5:00 am
Tue January 22, 2013

UT Prof Works to Define Elusive Concept of Happiness

People define happiness differently, but a couple of traits are universal.
flickr.com/trufflepig

We all think we know what happy means. But when you get down to it, how would we actually define it? Raj Raghunathan has tried. He teaches marketing at UT’s McCombs School of Business. He studies, among other things, consumer behavior, decision theory, and happiness. Raghunathan says different people define happiness differently, but a couple of traits are universal. It’s a positive emotion, and we want to experience it. But, he says, pursuing society’s most common markers of happiness won’t actually get us there.

Read more
Business
4:48 pm
Thu January 17, 2013

Drought Forces Panhandle Beef Plant to Close

KUT News

Years of drought have wreaked havoc on the cattle industry in Texas. Today a major beef processor in the Panhandle said it is temporarily closing a plant because of dwindling supply.

Cargill says it will idle its facility in Plainview, which employs about 2,000 people.

Read more
Business
6:53 am
Wed January 16, 2013

Whole Foods Founder John Mackey On Fascism and 'Conscious Capitalism'

Whole Foods has more than 300 stores and continues to expand.
Harry Cabluck AP

Originally published on Thu January 17, 2013 2:51 pm

UPDATE at 12:35 p.m., ET, Jan. 17: Many of you wrote in to tell us you were taken aback by Whole Foods top executive John Mackey characterizing the health law as fascism in an NPR interview, and apparently, he's feeling a little sheepish.

About three minutes into his otherwise amiable chat with CBS This Morning hosts on on Thursday, Mackey walked back his comments in response to a direct question from Norah O'Donnell:

Read more
Business
7:34 pm
Mon January 14, 2013

Report: Dell Could Go Private

Dell Inc's headquarters in Round Rock. Dell stock surged on word the publicly-traded company could go private.
Dell Inc.

Shares in computer-maker Dell Inc. surged by 13 percent Monday on rumors the Round Rock based company could go private. Bloomberg News cites anonymous sources as saying Dell is in talks with at least two private equity firms.

John Doggett is a lecturer at the University of Texas McCombs School of Business. He says the talks come as Dell is shifting its business strategy away from PCs.

Read more
Business
2:53 pm
Wed January 9, 2013

Dell Loses Senior Executive

The 2011 Dell World conference, during Dave Johnson's tenure at the company.
flickr.com/dellphotos

Until yesterday, Dave Johnson was a part of computer company Dell’s strategy to turn the once-dominant company around. But Dell declared yesterday that Johnson is ditching the tech industry altogether to take a senior position with an investment company.

In 2009 Johnson jumped ship from IBM to Dell as senior vice president for corporate strategy. The company’s intention was to catapult from personal computers into the tech service market, alongside giants like IBM and Hewlett-Packard. 

Read more

Pages