NPR Audio – Business – Yahoo! News
NPR Audio – Business – Yahoo! News
Interior Secretary Ken Salazar made the announcement Monday, arguing that a pause is still needed to ensure that oil and gas companies implement safety measures to reduce risks — and are prepared to handle spills. Full Story;
Hugh Hefner's offer to take Playboy Enterprises Inc. private drew the promise of a competing bid on Monday from the owner of archrival Penthouse magazine. That raises the possibility that Playboy magazine's 84-year-old founder could lose control of the men's magazine he started more than half a century ago. Full Story;
It's fun to connect with old schoolmates on MySpace and catch up with co-workers on LinkedIn. But would you want a debt collector as a Facebook friend? Some collectors are using social networking sites to catch delinquents. Full Story;
Playboy Enterprises, the magazine's parent company, said Monday morning that magazine founder Hugh Hefner has offered to buy all of the shares of the media empire that he doesn't already own — amounting to about $120 million. The 84-year-old Hefner also wants to turn it into a privately held company, which means taking it off the stock market. Hefner said he's concerned about the Playboy brand and the magazine's editorial direction. Full Story;
BP continues its efforts to contain the Gulf oil leak. A new cap being placed atop the gusher is intended to provide a tight seal and might eventually allow the oil giant to capture all the crude leaking from the well for the first time since the April oil rig explosion that set off the environmental disaster. Full Story;
The new chief regulator for offshore oil drilling says he's more willing than people in the past to issue fines and even jail terms for those who break the law. Michael Bromwich told the Associated Press that he's not against drilling. He calls offshore drilling “an energy reality for us for the foreseeable future.” Full Story;
A year after filing for bankruptcy, General Motors is preparing to seek SEC permission to start selling stock again. Company officials say shares might start trading as early as this fall. GM's talk of an initial public offering comes after an encouraging year for the company. Full Story;
Production begins on the new Chevy Cruze in Lordstown, Ohio, on Monday. GM is counting on the car as part of its economic resurgence, and Lordstown is counting on the newly created jobs. Full Story;
The amount of money BP will need to deal with the oil spill in the Gulf is yet to be determined. Some experts say the $20 billion the company has set aside for compensation, cleanup and penalties will be roughly enough. Others estimate that BP could be liable for more than $100 billion. Full Story;
Debra Rousey doesn't want to get an unemployment check every week. She'd much rather get a paycheck, as she used to back in November, before she lost her job as an assistant bank manager. But now that her unemployment benefits have ended, and Congress is deadlocked about extending them, she needs the money just to keep the lights on and a roof over her family's heads. Full Story;
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July 12 2010 11:35 pm | Uncategorized