Economy

Employment
8:08 am
Wed December 5, 2012

118,000 Jobs Added to Payrolls Last Month, Report Signals

A "closed" sign at a coffee shop in New York City, where many businesses had to shut down for at least a few days before, during and after Superstorm Sandy.
Carlo Allegri Reuters /Landov

Originally published on Wed December 5, 2012 7:56 am

There were 118,000 jobs added to private employers' payrolls in November, according to the latest ADP National Employment Report.

That's slower growth than in October, when ADP's employment measure grew by 157,000 jobs.

Read more
Politics
8:33 am
Tue December 4, 2012

Obama Starts His Second Term by Bringing Tougher Talk

President Obama speaks at the National Defense University in Washington on Monday. Since his re-election four weeks ago, Obama is showing signs of a new, more aggressive leadership style.
Charles Dharapak AP

Originally published on Tue December 4, 2012 11:37 am

Throughout his first term, some of President Obama's critics said he wasn't a tough enough negotiator. They felt he caved to Republicans too early, too often. Since his re-election, Obama has subtly changed his approach. He's bringing a more aggressive style — but some critics say it's not the best way to find common ground.

Read more
Politics
10:56 am
Mon December 3, 2012

Pick A Number: Let's Play 'Cap Those Deductions'

In the presidential debate on Oct. 16, Mitt Romney presented a hypothetical way to cap deductions and raise revenue.
Spencer Platt Getty Images

Originally published on Mon December 3, 2012 7:35 am

Treasury Secretary Timothy Geithner says it's up to congressional Republicans to take the next step in budget talks to avoid the pending automatic spending cuts and tax increases at the end of the year.

Appearing on the Sunday talk shows, Geithner said there's "no path to an agreement" until Republicans are willing to accept higher tax rates on the rich.

Read more
Politics
1:51 pm
Sun December 2, 2012

No Deal on Fiscal Cliff Without Tax Increase on Rich, Geithner Says

Treasury Secretary Timothy Geithner, seen here on NBC's Meet the Press on July 10, 2011, took to the Sunday talk shows to make the administration's case on the negotiations over the "fiscal cliff."
William B. Plowman AP

Originally published on Sun December 2, 2012 1:50 pm

Treasury Secretary Timothy Geithner took to the Sunday talk shows to push the Obama administration's plan to avert the "fiscal cliff," saying that while he was optimistic about a deal with Republicans, there would be no agreement without an increase in tax rates for the top 2 percent of income earners.

Read more
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.

Read more
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.

Read more
Education
2:59 pm
Wed November 28, 2012

Gov. Perry Wants to Fast Track Vocational Certification in Texas

Gov. Rick Perry announced the creation of a Skilled Workforce Initiatve Tuesday.
KUT News

Governor Perry announced his intention Tuesday to launch a Skilled Workforce Initiative in Texas to address demand for certified, highly-skilled workers in the manufacturing sector.

The initiative would reduce the time it takes for students to earn vocational certification in certain high-demand fields, such as manufacturing and industrial business. Under the initiative, certification programs will award credit to students who enter the program already possessing some experience and skills necessary for certification.  Backers hope the program will allow students to get certified and begin filling jobs more quickly, while also saving them time and money by allowing them to bypass lessons on subjects they’ve already mastered.

Read more
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.

Read more
Politics
8:01 am
Tue November 27, 2012

GOP Pushback On No-Tax Norquist: Less Than Meets The Eye

Grover Norquist, head of Americans for Tax Reform, speaks on Nov. 5, 2011, in Washington, D.C.
Nicholas Kamm AFP/Getty Images

Originally published on Tue November 27, 2012 9:00 am

A handful of congressional Republicans after finishing their Thanksgiving dinners decided to give anti-tax crusader Grover Norquist the brushoff, saying they wouldn't abide by his "no new taxes" pledge as they work on a budget deal.

Breathless coverage ensued.

"Move over, Grover?" read one headline.

Read more
Economy
1:00 pm
Mon November 26, 2012

Canned Goods are Great - But Food Banks Really Need Money

Food banks are able to get food at better prices than consumers.
KUT News

Canned food drives are common around the holiday season. But food banks across Texas have placed a few other things a little higher on their wish lists this year.

The Texas Food Bank Network (TFBN) is made up of the state’s 20 food banks. The network says if you’re looking to help this holiday season, a financial gift will go further than an in-kind gift. That’s because food banks can work with corporations and farmers to get more for the money.

"We work with farmers to get them to donate their surplus product. And we can do that by giving them as little as ten cents per pound to help them offset the costs of getting that surplus produce out of the ground and to food banks. We have lots of corporate partnerships with big food retailers. And so we can really turn that dollar or ten dollar contribution into so much more because of the relationships that we have," Celia Cole, TFBN CEO, says.

Read more
Bangladesh
8:56 am
Mon November 26, 2012

Outrage, Protests In Bangladesh After Factory Fire That Killed Scores

Inside the factory in Dhaka, Bangladesh, after the blaze.
AFP/Getty Images

Originally published on Mon November 26, 2012 9:19 am

Horrific is a word that quickly comes to mind about the news from Bangladesh concerning a fire Saturday in a garment factory where clothes were made for retailers around the world, including some in the U.S.

Here's how The Associated Press starts its latest report:

Read more
Business
11:26 am
Thu November 22, 2012

On Thanksgiving, Stores Serve Up A Side Of Shopping

Walmart associate Angel Campos stocks Christmas decorations Wednesday ahead of the pre-Black Friday event at the Wal-Mart Supercenter store in Rosemead, Calif.
Damian Dovarganes AP

Originally published on Thu November 22, 2012 6:11 am

Gray Thursday may become the new Black Friday. Many big retailers have moved up the beginning of their shopping season, traditionally the Friday after Thanksgiving, to Thursday evening.

Brick-and-mortar retailers are feeling pressure from online retailers, which have given consumers an earlier shopping option.

"In the past, online retailers have had Thanksgiving Day all to themselves," says Marshal Cohen, retail analyst with the NPD Group. "And what that means is by the time Black Friday comes around, a lot of consumers have already spent a bunch of money."

Read more
Politics
12:37 pm
Wed November 14, 2012

Live Blog: President Obama's News Conference

President Obama during his news conference at the White House today.
Mandel Ngan AFP/Getty Images

Originally published on Wed November 14, 2012 8:44 pm

Eight days after his re-election — with the fiscal cliff looming, questions being raised about the deadly attack on the U.S.

Read more
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.

Read more
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.

Read more
Austin
8:58 am
Thu October 25, 2012

No Simple Solution for Austin Homeless (Updated)

Gerry and Melanie Yount and their 12-year-old son live in a pickup truck as they try to get medical care.
Joy Diaz, KUT News

Update: Oct. 25, 2012 at 9 a.m.:

After airing this story on Monday, listeners have been wondering what happened to the Yount family.  The first thing was that a listener drove by the parking lot where they were and gave them a cell phone.  Others have called asking for ways in which they can help.  KUT now has a way to get in touch with the Younts.  If you have any interest in helping them, you can contact KUT.

Original Story posted on KUT.org Oct. 23, 2012 at 5:30 a.m.:

The city of Miami claims to have taken almost half of its homeless population off the streets in the last 10 years. In Austin, where homeless services are stretched to the limit, the City Council is looking for new solutions. Last night, council members met with officials from Miami. The challenges of one local homeless family that is struggling on the streets show how complex the problem can be.

Read more
Texas
7:08 am
Thu October 25, 2012

Midsize Companies Power Texas Job Creation

Midsized Texas companies are adding jobs.
Teresa Vieira for KUT News

Midsize companies — firms with annual revenues of $10 million to $1 billion dollars — are now adding jobs at almost double the national average.

Middle market companies account for just 0.5% of all Texas businesses. But they employ 30% of the state’s workforce. Anil Makhija teaches finance at Ohio State University. He says midsized businesses are more reliable job creators than small ones.

“If you think about small firms, they do deserve our attention, because they are frequently the centers of innovation. But they have a very high failure rate.”

Read more
Economy
2:22 pm
Fri October 19, 2012

Texas Drops to 6.8 Percent Unemployment; Austin at 5.3 Percent

Unemployment rates in Austin and Texas alike continue to fall.
flickr.com/sarahbelle1

The unemployment rate in Texas saw its biggest one-month drop in nearly two decades in September.

Statewide, the jobless rate fell from 7.1 percent in August to 6.8 percent in September. That was the result of an additional 21,000 jobs.

Here in Austin, the unemployment rate fell from 5.9 percent to 5.3 percent. That rate doesn’t account for seasonal changes in employment. Still, Texas Workforce Commission spokesperson Lisa Givens says the Austin area added 3,000 jobs last month, largely in fields including education, health services and government jobs.

Read more
Texas
7:35 am
Fri October 19, 2012

'Dire' State of Central Texas Lakes Costing Area Millions

The "Sometimes Islands" of Lake Travis have become permanent fixtures on the lake over the past few years.
flickr.com/daleremote

State lawmakers met Wednesday to discuss the Texas drought and how extremely low Central Texas lake levels are hurting the economy. 

The Texas House Committee on Culture, Recreation, & Tourism heard testimony from Travis County Commissioner Karen Huber and the Central Texas Water Coalition. Both Commissioner Huber and the Coalition are seeking assistance from the state for the populations living and working around the lakes. They told lawmakers that funding and assistance is needed to support the impacted communities.

Huber recounted stories she's heard from several Lake Travis business owners:

"One gas station owner says he has shut 3 of his 4 gas stations. Another business owner who owns several business on the lake says he is raiding his kids' college funds for two years. My partners and I have cashed in every IRA we have tucked away. And we are running out of options."

Read more
Business
4:29 pm
Thu October 18, 2012

AMD Confirms Plans to Lay Off 15 Percent of Workforce

The southwest Austin campus of AMD. The chipmaker said today they plan to lay off 15 percent of its workforce worldwide.
http://bit.ly/Qv3vtb

Computer chipmaker AMD announced this afternoon that it’s laying off 15 percent of its workforce. 

AMD is based in Silicon Valley, but employs about 25,000 people at its southwest Austin campus. The company says poor earnings and falling sales have forced cost-cutting measures.  

Analysts say AMD has suffered from an overall slowdown in computer sales as consumers have switched to tablets and smartphones—the same trend that has hurt Austin-based Dell.  Hans Mosesmann is an investment analyst specializing in semiconductors. He says that while AMD is slimming down today to be smaller and more flexible, the company may soon be hiring again.

Read more

Pages