Business

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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Economy
12:09 pm
Wed December 4, 2013

Income Inequality Is The 'Challenge Of Our Time,' Obama Says

President Obama talks Wednesday about the economy and growing economic inequality in Washington.
Evan Vucci AP

Originally published on Wed December 4, 2013 3:46 pm

President Obama tried Wednesday to turn the conversation back to the economy, calling the growing income gap the "defining challenge of our time."

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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
6:24 am
Fri November 29, 2013

Shop 'Til You Drop? Why Black Friday Started Earlier Than Ever This Year

'Black Friday' shoppers started hitting the stores for sales on Thursday this year.
flickr.com/matthewholland

Black Friday isn’t quite what it used to be. More stores are trying to get the jump on others by opening not only on Thanksgiving, but earlier and earlier on Thanksgiving.

This year, there may have been even more incentive to open early. That’s because there’s less time than usual before it’s time to start the pre-Christmas sales.

You might have heard that a quirk of the calendars had Thanksgiving and the start of Hanukkah on the same day this year. That once-in-several-lifetimes coincidence is a combination of a couple of things: an early Hanukkah and a Turkey Day that was as late in the calendar as it could be.

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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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real estate
7:24 pm
Mon October 21, 2013

Austin Home Sales Jumped 34 Percent in September

Photo courtesy http://www.flickr.com/photos/bunchesandbits/4714938136/

Austin-area home sales grew by 34 percent in September compared to a year earlier. A new report from the Austin Board of Realtors says almost 2,391 single-family homes were sold last month.

Homes are spending an average of 44 days on the market, which is 22 days fewer than a year ago.

In many cases, homes are being sold by word of mouth before they’re even listed, according to housing economist Jim Gaines at the Texas A&M Real Estate Center.

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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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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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economy
7:30 pm
Tue October 1, 2013

Austin Popular Place to Relocate, But Good Luck Finding a Home

http://www.flickr.com/photos/bcostin/101701289/

People across America really want to live in Central Texas. So many people, that Williamson County had the ninth largest growth in households of any county in the nation last year, according to a new report by the Texas Association of Realtors. Travis County was number eleven.

The "net inflow" of households to Williamson County was 4,436 last year. In Travis County, it was 4,045. 

“Texas continues to be an attractive place for people who are considering to be relocating," said Stacey Armijo with the Texas Association of Realtors, "and I think, in particular, those who are looking for job opportunities and a high quality of life."  

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Beer
1:30 pm
Wed September 25, 2013

A Dispute Brews in Austin Over 'Namaste' Beer Trademark

Whip In's in-house beer company, Namaste Brewing, has been challenged on trandemark grounds.
flickr.com/the_photographer

An Austin beer emporium may be forced to change the name of its line of brews.

First opened in 1986, South Austin’s Whip In has evolved from a convenience store into a “Dhabapub” offering Indian cuisine and 72 beers on tap. It’s also launched an in-house line of beers: Namaste Brewery.  But this week, Whip In announced it was being asked to surrender the Namaste name.

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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
9:52 am
Tue September 3, 2013

Nonstop Flights to Europe Coming to Austin (Update)

Austin's only nonstop international flights are to Cancun, Mexico.
KUT News

Update: Austin is getting regular, nonstop service to Europe.

British Airways announced today that it will begin offering transatlantic Boeing 787 flights five days a week, beginning March 2014. The company says it plans to offer daily flights later in the year.

You can read more from British Airways

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