Business

Business
3:09 pm
Mon December 3, 2012

Time to Make the Doughnuts: Colt McCoy Opening Two Dozen Dunkin’ Stores in Austin

The selection on display at one Dunkin' Donuts - coming soon to Austin.
flickr.com/dasqfamily

The Austin Yellow Pages lists 39 doughnut shops in the Capital City.

Now former Longhorn Colt McCoy, known better for passing the pigskin than passing the crullers, is set to increase that number by more than half: An investment crew lead by the former UT quarterback is planning on bringing two dozen Dunkin’ Donuts stores to Austin.

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Technology
7:19 am
Mon December 3, 2012

In Eye Control, A Promise To Let Your Tablet Go Hands-Free

In an image from an Eye Tribe video, a man uses his eyes to play the Fruit Ninja game, slicing fruit in half as it appears on the screen.
The Eye Tribe

Originally published on Mon December 3, 2012 3:57 am

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Mexico
7:50 am
Fri November 30, 2012

Why Mexico is the World's Biggest Exporter of Flat-Screen TVs

Mark Lennihan AP

Originally published on Fri November 30, 2012 10:04 am

Most of the news we hear about Mexico these days is about drug-related violence. But it turns out there's another, brighter story there: The country's economy has been growing at a solid pace for the past couple years, driven in large part by solid exports.

Among other things, Mexico is the world's largest exporter of flat-screen TVs. There are a lot of factories just south of the U.S. border, filled with workers putting together televisions. The individual parts come from Asia, but the final assembly is done in Mexico.

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Lottery
9:34 am
Thu November 29, 2012

Winning Powerball Tickets Sold in Arizona and Missouri; But Who Bought Them?

Ticket sales soared as the jackpot grew.
Saul Loeb AFP/Getty Images

Originally published on Thu November 29, 2012 1:15 pm

After all the hype and hoopla, millions of Americans (including us) are waking up this morning to learn that they aren't sudden millionaires.

Yes, there were winning tickets sold for Wednesday night's $580 million Powerball jackpot.

But there were only two tickets that correctly matched the numbers drawn: 5, 16, 22, 23, 29 and Powerball of 6.

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Lottery
4:57 pm
Wed November 28, 2012

What Would You Do With $550 Million in Powerball Winnings?

A standard Powerball ticket.
Brandon Mulder for KUT News

As of Wednesday afternoon, the interstate Powerball lottery has reached a total of $550 million – the second largest lotto jackpot in history. This amount has caught the eyes (and wallets) of many.

First-time players and regulars alike are dreaming of what they would do with the winnings if they draw the lucky numbers. KUT News spoke with one Powerball player, Abbie Garcia, who had an easy attitude: “When you win the lottery it leaks through your fingers anyway, so I wouldn’t want to be too caught up in trying to hold onto it.”

Many players have practical hopes of quitting their daytime jobs, paying off debts, sending their kids to college, vacationing in Europe, etc. But when it comes to pipe dreams, a half-billion dollar jackpot permits endless fantasizing.

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Business
11:37 am
Wed November 28, 2012

EPA Temporarily Halts New Federal Contracts For BP

The Deepwater Horizon oil rig burned on April 21, 2010.
U.S. Coast Guard Getty Images

Citing a "lack of business integrity," the Environmental Protection Agency announced it was temporarily suspending the oil giant BP from entering into new contracts with the federal government.

In a press release, the EPA said BP demonstrated the lack of integrity during the Deepwater Horizon "blowout, explosion, oil spill and response." This kind of suspension, the EPA explained, is "standard practice when a responsibility question is raised by action in a criminal case."

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Economy
11:14 am
Tue November 27, 2012

Consumer Confidence Edges Up Again; Reaches Highest Point Since Early 2008

If they're confident, they will shop: Two women carry shopping bags down Manhattan's 34th St. last week.
Andrew Kelly Getty Images

Originally published on Tue November 27, 2012 9:13 am

There was a "moderate increase" in American consumers' confidence this month, the private Conference Board just reported.

Its widely watched consumer confidence index rose to 73.7 from 73.1 in October. The index is the highest it has been since February 2008, when the economy had just fallen into recession and was headed down.

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Economy
4:44 am
Mon November 26, 2012

'Giving Tuesday': The Start of a Holiday Tradition?

Originally published on Mon November 26, 2012 3:50 pm

First, there was the post-Thanksgiving sales spectacle Black Friday and then the online version, Cyber Monday. Now, charitable groups want to start a new holiday tradition — it's called Giving Tuesday and the first one is tomorrow.

It may seem a little surprising that no one came up with the idea before of designating a specific day to help launch the holiday charitable giving season.

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Business
3:49 pm
Wed November 21, 2012

Visa Plans 800 New Jobs in Austin

flickr.com/photos/declanjewell

Credit card company Visa says it will build a new IT center in Austin, bringing almost 800 jobs to the area within five years.

Texas Governor Rick Perry announced the project this afternoon.

Perry is using $7.9 million dollars from the Texas Enterprise Fund to entice Visa to Austin.

The city will kick in about $1.5 million over 10 years, according to a memo released by the city's Economic Growth and Redevelopment Services Office.

economy
12:53 pm
Tue November 20, 2012

Housing Hot Streak: Austin-Area Home Sales Surge 37 Percent

Seen a lot of this sign? You should have: Austin's real estate market keeps climbing.
KUT News

Not since the federal government was doling out $8,000 tax credits to first time homebuyers have home sales surged this much in the Austin area.

In October, 1,960 single-family homes were sold in Austin, according to the Austin Board of Realtors. The 37 percent year-over-year increase was the largest since November 2009.

“We’re very vibrant,” says Austin Board of Realtors chairman Leonard Guerrero, pointing to Austin’s growing population. “

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Business
3:17 pm
Mon November 19, 2012

Maybe Twinkies Do Last Forever: Union, Hostess Headed To Mediation

The big name in the Hostess lineup.
Scott Olson Getty Images

Originally published on Tue November 20, 2012 7:43 am

"Twinkies Saved! Hostess, Bakers Union Agree to Mediation, Avoiding Shutdown."

That's the "alert" this hour at CNBC.com.

Reuters has issued this "bulletin":

"US BANKRUPTCY JUDGE SAYS PARTIES AGREE TO MEDIATION ON TUESDAY IN HOSTESS CASE."

And according to The Associated Press:

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Business
4:02 pm
Fri November 16, 2012

Hostess No More: Texas-based Twinkies Maker Closes Shop (Updated)

Twinkies were long thought to last forever. It turns out they may not.
Tyler Pratt for KUT News

Update: Company spokesperson Tammy Taylor tells KUT News that “Hostess Brands had 230 employees in Texas. All facilities are shut down, with the exception of retail outlets, which will remain open for about a week to sell remaining product in going out of business sales.”

Taylor says that “severance will not be paid at this time” to the laid-off employees; “funds for these amounts are not in the ‘Wind Down’ budget that Hostess lenders approved.”

Original post (1:25 p.m.): It’s the end of Hostess Brands, the Texas-headquartered maker of Twinkies, Wonder Bread and Ding Dongs.  This morning Hostess said it filed a motion in bankruptcy court to request permission to liquidate its assets.

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Formula 1
2:15 pm
Wed November 14, 2012

Can You Break a Euro? Group Urges Local Businesses to Accept Foreign Currency During F1

The Better Business Bureau notes foreign tourists may not have converted their currency to greenbacks.
Flickr user Images of Money, bit.ly/LeSsiT

Tens of thousands of Formula 1 fans are making their way to Austin for this weekend’s Grand Prix. Many are from foreign countries.

The Austin Better Business Bureau says business owners should be prepared to accept foreign currency or else they may lose out on some customers.

The BBB says business owners should be aware of ever-changing exchange rates and should talk to their banks about whether they’ll charge extra for depositing foreign currency.

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Economy
12:00 pm
Fri November 9, 2012

Obama to Lay Down His Markers on Economy & Fiscal Cliff

Vice President Biden looks on as President Obama speaks at the White House.
Mark Wilson Getty Images

Originally published on Fri November 9, 2012 1:08 pm

The post-election negotiations over taxes, the economy and the so-called fiscal cliff moved into a new phase this afternoon when President Obama stepped up to a microphone at the White House to lay out his latest thoughts about what needs to be done.

In many ways, this words were echoes from the hard-fought campaign.

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Economy
3:49 pm
Thu November 1, 2012

'Boomerang Kids' Circle Back to Where They Started

Multi-generational families are sharing housing more often, according to a new report.
www.flickr.com/Jellaluna

There used to be a stigma attached to living at home into one’s twenties and thirties – but not so much these days.

Blame it on rising housing prices, or dwindling employment opportunities for grads – but nowadays, young adults between the ages of 25 to 34 are feeling more comfortable about moving back in with their parents.

According to a recent Pew Research Center report on the so-called “boomerang generation,” three out of 10 young adults have moved back home in recent years, thanks to a weak economy. 

The good news concerning multi-generational households is that it looks like all parties are benefiting from the trend. Of the 2,048 adults surveyed nationwide, 48 percent have reported paying rent to their parents and 89 percent say they help with household expenses, like utilities.

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