Business & Technology

The Two-Way
2:20 pm
Thu August 16, 2012

Facebook Shares Battered As Insiders Are Allowed To Sell

An illustration of an Apple iPhone displaying the Facebook app's splash screen in front of the login page.
Karen Bleier AFP/Getty Images

Originally published on Thu August 16, 2012 2:42 pm

At one point today, Facebook's stock price sunk to a new low. At about $19.69, it was worth about half of what it was initially sold for in May.

Bloomberg explains that what is happening is that early investors in the company — including founder and CEO Mark Zuckerberg — were allowed to sell some of their stocks for the first time today.

Bloomberg adds:

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The Two-Way
7:40 am
Thu August 16, 2012

Jobless Claims Held Steady At 366,000 Last Week

There were 366,000 first-time claims for unemployment insurance last week, up by 2,000 from the week before, the Employment and Training Administration says.

So what we said last week applies again:

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Business
4:35 am
Wed August 15, 2012

British Bank Settles Money Laundering Charges

Transcript

RENEE MONTAGNE, HOST:

A British bank has agreed to settle charges that it illegally laundered Iranian money. The settlement with Standard Chartered was announced by New York banking regulators, who'd brought the charges just a week ago. The bank still is under investigation by the federal government. NPR's Jim Zarroli has more.

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Business
4:14 am
Wed August 15, 2012

BBC Exec to become head of NY Times

Originally published on Wed August 15, 2012 6:32 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with the top man at The Times.

(SOUNDBITE OF MUSIC)

MONTAGNE: The New York Times has named its new president and CEO. The man who got the job is Mark Thompson, a former BBC executive. Thompson will face a different business model from the non-profit British broadcaster. The paper is run by a board that's largely elected by a family trust.

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Entergy
4:24 pm
Tue August 14, 2012

Court won't make AR, MS utilities pay to exit pact

A federal appeals court has rejected an effort by Louisiana utility regulators to make Entergy Corp. subsidiaries in Arkansas and Mississippi pay for ending an agreement with their Entergy counterparts in Louisiana and Texas.

The ruling Tuesday by an appeals court in Washington deals with an agreement requiring the separate Entergy utilities to offer roughly equal electricity rates. At times, this has resulted in Entergy Arkansas making payments to Entergy affiliates with higher production costs — causing Arkansas customers to pay more.

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Work Sharing
11:05 am
Tue August 14, 2012

Louisiana gets $1.5M work-sharing labor grant

The U.S. Department of Labor has set aside nearly $100 million in grants for states to set up or improve existing short-term compensation programs, commonly referred to as "work sharing."

Louisiana's share of the grant is $1.5 million. Work sharing allows employees to keep their jobs and helps employers to avoid laying off their workforce during economic downturns by reducing the hours of work for a group of affected workers.

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Business & Technology
10:56 am
Tue August 14, 2012

Chevron completes storage facility in Terrebonne

Chevron has completed construction on a 150,000-square-foot storage facility in Terrebonne Parish to support its operations in the Gulf of Mexico.

The facility, located on Louisiana Highway 24 in Gray, will employ 25 people and serve as the storage hub for materials essential to Chevron's oil and gas exploration activity in the Gulf.

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All Tech Considered
2:33 am
Tue August 14, 2012

Despite Layoffs, Google's Motorola Strategy Aims At Innovation

Google's Android 3.0 Honeycomb OS is demonstrated on a Motorola Xoon tablet during a media event at Google headquarters on Feb. 2, 2011. Google acquired Motorola Mobility in August 2011 for $12.5 billion.
Justin Sullivan Getty Images

Originally published on Tue August 14, 2012 4:18 pm

Google is shaking things up at its new subsidiary Motorola Mobility, announcing Monday that it will lay off 20 percent of the company's global workforce. Its strategy is to create a small division led by a technology star to spur innovation at the company that invented the cellphone.

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Out To Lunch
1:00 pm
Mon August 13, 2012

Occasional IKEA

Bluebag's Mehmet Ergelen.
Grant Morris It's New Orleans

This week on Out to Lunch, we explore the places where home and business intersect. First, New Orleanian Kay Morrison. Kay was a success in corporate America when she and her husband realized they needed an extra partner — an occasional wife — to do all the at-home stuff Kay wasn’t at home to do. Kay founded The Occasional Wife to become that occasional wife for others.

Real Estate
12:01 pm
Mon August 13, 2012

Land prices booming on Jefferson strip

The cost of land along Veterans Memorial Boulevard — east Jefferson Parish's main commercial corridor —has reached historic highs indicating a strong retail market, according to SRSA Commercial Real Estate of Metairie.

SRSA partner Donald Schwarcz tells New Orleans CityBusiness his figures show the strip's most valuable property costs as much as $60 per square foot, six times as much as land in eastern New Orleans, four times the cost along Lapalco Boulevard in west Jefferson and nearly twice as much as the most expensive commercial areas of St. Tammany Parish.

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