Inventing a new product is hard if you can't afford to build a prototype. Enter maker spaces, workshops boasting shared high-tech tools. Entrepreneurs love them, and big backers are taking notice.
Only one banker has gone to jail for his role in the financial crisis. That person is Kareem Serageldin, formerly an executive at Credit Suisse. He began serving his 30 month sentence earlier this year.
“It’s not a conspiracy,” says Jesse Eisinger, a senior reporter at ProPublica, on why there have been so criminal proceedings. Instead, the Department of Justice was chastened by a series of court losses, and “effectively lost its ability to indict corporations or go after individuals at the highest echelons of corporate America.”
Eisinger details how the Department of Justice "lost its way" in an article for the New York Times Magazine.
In his account, the turning point was the case against Enron’s Arthur Anderson. Two years after winning the original case, the Supreme Court overturned the verdict. Eisinger says the Supreme Court “didn’t say that Arthur Anderson was not guilty of the crime that they had been indicted for, which was obstruction of justice. It revolved around jury instructions. But the Department of Justice took this as a huge black eye.”
Ever since, the DOJ has focused on crimes that are easier to win – such as insider trading cases. And they’ve been reluctant to investigate or bring charges against company CEOs.
“The real bad actors are the top officers in companies that commit crimes," Eisinger said. "And you have to go after them successfully if you want to deter white collar crime.”
Few U.S. farmers grow the tannic apples traditionally used to make hard cider. So craft cider makers are using eating apples and adding chili, chocolate and tropical juices to boost their flavor.
Dick Costolo calls the @ sign "scaffolding" that gets in the way of clear communication. And he says Twitter has to bridge the gap between the brand's global awareness and user engagement.
A bill to increase the federal minimum wage was blocked in the Senate on Wednesday, as Democrats failed to muster the 60 votes necessary to bypass a filibuster.
[2014-04-30 13:00:00] Our national conversation about climate change involves analyzing scientific research. But it also includes plenty of political rhetoric and emotionally-charged speech on both sides of the issue. We’ll talk this hour about the history of how we’ve talked about global warming with Emory University professor Patrick Allitt. His new book is A Climate of Crisis: America in the Age of Environmentalism (Penguin History).
[2014-04-30 12:00:00] Nearly 200 years after his death, Ludwig van Beethoven remains one of the towering figures of classical music. And this spring, the Dallas Symphony Orchestra will celebrate the composer with three weeks of performances. We’ll talk this hour about Beethoven’s lasting impact on both classical music and pop culture with DSO music director Jaap van Zweden and concertmaster Alex Kerr.
That sweet sticky rice that comes with your sushi likely came from California. The state grows almost all of the nation’s medium grain rice, and about half of it is exported.
And California's drought is expected to have a dramatic effect on rice production. Economists say the mere speculation of production losses is already driving up prices.
Ninety-seven percent of California’s rice is grown in the Sacramento Valley, including at Montna Farms, where a huge drag scrapers level fields in preparation for planting. Nicole Van Vleck says medium grain rice will grow here, which is perfect for sushi.
“If you’re eating sushi rice in New York, or in Florida, or San Francisco you’re most likely undoubtedly going to be eating California rice,” says Van Vleck.
Van Vleck stands next to a water pump that’s flooding the field behind her.
“So this is water that’s coming from the Feather River. The Feather is just to the east of us, we divert out of the Feather,” she says.
Northern California farmers typically have plenty of water compared to those in the south, even during dry years. But not this year.
“This is the first time I know of that we cut back rice acreage because surface water allocations were cut so severely to water districts north of Sacramento,” says Dan Sumner, an agriculture economist at the University of California Davis.
Montna Farms has been in the Sacramento Valley for generations. But this is the first time a drought has caused so much uncertainty.
“It’s unlike anything I’ve ever had to deal with,” says Van Vleck. “Day to day, things change. Right now we are down 48 percent over last year.”
Rice farmers will leave 100,000 acres of their fields fallow. That’s a big deal. Van Vleck says medium-grain rice grows in just a few places around the world.
“California does export about half of their crop. And so if California is affected because of the drought, it all of a sudden changes the price of medium grain substantially,” she says.
Sumner has already seen the price increase.
“Farmers were getting between $15 and 20 for a 100 pound sack of rice,” he says. “It’s now up in the range of $25 or $30 -- or more.”
Customers have seen the price bump at Oto’s Marketplace in Sacramento, a store that specializes in Asian foods.
“A lot of the distributors and everybody went in increments. You don’t see a big price raise all at one time," says Russell Oto, the store’s general manager. “But by May or June it might go up a little bit more than what my prices are now.”
What worries rice farmers like Van Vleck the most is the possibility that California could see more dry years ahead.
“We have this wonderful system of customers that count on us each and every year,” she says. “I don’t know that they’ll all be able to be serviced this year. Someone else will fill that void. You might not get the customer back.”
And economists say that’s the danger. Suppliers might just start buying their rice elsewhere, like Australia or Arkansas. The drought may send a signal to the world market that California rice isn’t reliable.
The economy slowed sharply in the first quarter, but Federal Reserve policymakers voted unanimously to continue winding down their stimulus program.
In Afghanistan, as the winter snows melt, Taliban violence heats up. This year, there will be even fewer foreign troops in Afghanistan to prop up Afghan forces, who suffered record casualties in 2013 as they took the lead for security. While U.S. officials feared that could hamper recruiting efforts for the Afghan Army, Afghan officials say they have a surplus of volunteers.