The city of Stockton, Calif., filed for federal bankruptcy protection Thursday, becoming the largest city in U.S. history to do so.
Some worry it's part of a wave. Six other municipalities have filed for bankruptcy protection this year. That's roughly on track with last year's pace, which saw 13 bankruptcies — the most in two decades.
A wave of municipal bankruptcies could be the country's next big financial crisis, several Wall Street analysts have warned.
Seth MacFarlane is known mostly for creating, writing and directing the animated TV show Family Guy. In the show, he also voices Peter and Stewie Griffin, and their dog, Brian.
With his new movie, Ted, he has moved to the big screen for the first time, again creating, writing and directing. And though it's a live-action picture, he has again voiced one of the characters — the titular teddy bear, whom I tried to resist but couldn't.
You may already have made a mental note as to where you were when you heard the Supreme Court had upheld the health care law known as Obamacare. It's one of those moments that become touchstones of our memory, personal connections to the history we have witnessed in our lifetimes.
The Supreme Court may not be the source of such moments very often, but when its rulings reach this level of our awareness, they alter the course of our lives.
"Syrian opposition groups that track casualties reported on Friday that the previous day was the deadliest so far this year, and possibly in the entire Syrian uprising, with as many as 190 civilians killed in a 24-hour period," The New York Times is reporting.
"European stocks rallied after policy makers eased repayment rules for Spanish banks, relaxed conditions for possible aid to Italy and unveiled a $149 billion growth plan for the region's economy," Bloomberg News reports this morning. "U.S. index futures and Asian shares also rose."
Pessimism swept over advocates of the Affordable Care Act after oral arguments this spring seemed to go decidedly against the Obama administration. But the Supreme Court's ruling on Thursday — and its decision in another high-profile case this week — suggest oral arguments aren't as predictive of final outcome as some believe.
Our last word in business today comes from a giant in the advertising industry. Her name is Shelly Lazarus. The Brooklyn native began working at the ad agency Ogilvy and Mather at a time when the industry looked much like the one portrayed in the TV show "Mad Men."
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An industry run mostly by men. It was 1971 when Shelly Lazarus arrived at the company, fresh from Columbia University, with an MBA - a time when few women were earning business degrees.
Good morning. I'm Linda Wertheimer. Much excitement about a big bid on a New Zealand public transit train offered on an online auction. The broken-down train has close to three million miles on it. It's over 60 years old. That's significantly older than the highest bidder, who is four years old. The tech-savvy toddler's $30,000 bid has been removed, and the posting now reads: Adults only. This is not a toy. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.
Though there's been welcome news about progress in fighting the wildfire that has now destroyed about 350 homes in and around Colorado Springs, Colo., there's also the sad news that at least one person has died.
NPR's business news starts with a new owner for Modelo.
(SOUNDBITE OF MUSIC)
MONTAGNE: The world's biggest brewer, Anheuser-Busch InBev, announced today it's becoming bigger. The Belgian company says it's buying the rest of the Mexican brewer known for the beer, Corona. InBev had already owned a non-controlling stake and is paying more than $20 billion for full control. Analysts say the buy will help InBev move into new markets. Transcript provided by NPR, Copyright NPR.
Yesterday's ruling on health care took the financial markets by surprise. Stocks were mixed with some shares finishing the day sharply higher. By the end of the day, stock traders seemed to shrug off the ruling.
To Florida now, where yesterday's Supreme Court decision came as a complete shock to some elected officials. Florida's Republican Governor Rick Scott and his administration have done as little as possible to comply with the law. But now that the Supreme Court has acted, NPR's Greg Allen reports from Miami that Florida officials have some tough decisions ahead.
This is MORNING EDITION, from NPR News. I'm Renee Montagne.
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And I'm Linda Wertheimer.
The Supreme Court surprised almost everyone yesterday when it upheld the heart of President Obama's health care law: a requirement that everyone either have insurance or pay a fine or tax. It's a big victory for president. It also gives his challenger, Mitt Romney, some important opportunities.
Here's NPR's national political correspondent, Mara Liasson.
This is MORNING EDITION from NPR News. I'm Linda Wertheimer.
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And I'm Renee Montagne. The Supreme Court's decision to uphold President Obama's health care law defied many predictions: the outcome, the legal grounds, and the makeup of the court majority. For Chief Justice John Roberts, his definitive court opinion was either a triumph of judicial restraint, or a sellout, depending on who you talk to.
Just last week, Republican leaders were warning their rank and file not to gloat if the health care law were overturned. Well, after the decision came yesterday, GOP leaders regrouped and vowed to keep fighting. NPR's Andrea Seabrook reports.
ANDREA SEABROOK, BYLINE: House Majority Leader Eric Cantor stepped up to the microphone.
REPRESENTATIVE ERIC CANTOR: If for nothing else, today's health care decision underscores the importance of this election.
The Supreme Court's decision on health care yesterday was just one of several handed down this week. The justices also struck down mandatory life sentences for juveniles, citing cruel and unusual punishment.
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There are more than 2,000 inmates serving mandatory life sentences for crimes they committed as minors. The high court said judges should be allowed to consider mitigating factors such as a young defendant's immaturity or the circumstances of his or her upbringing.
It's 9:45 a.m. Thursday at the headquarters of Health Plan One, a health insurance agency that sells private policies. It's the morning of what is the biggest court decision ever regarding health insurance. Will the court uphold the health-care bill? Will it strike it down?
"Either way is fine with me," says Bill Stapleton, the company's CEO.
Bishop Ricardo Ramirez's grandmother lived a long and full life. But it was the way Francisca Espitia approached her final years that may have impressed her grandson the most.
Ramirez, 75, recently visited StoryCorps to remember his grandmother, whom he called Panchita, in a family story that begins in 1981. That's when he was elevated to bishop in the church. The occasion called for a reception — so Ramirez called his grandmother.
In the crowded heart of the Mexican capital, a fictional one-eyed private investigator shares a dingy flat with a flock of ducks and a rotating cast of lovers.
The central character in Paco Ignacio Taibo II's crime novels is Hector Belascoaran Shayne, a former engineer who got a "certificate in detection" through a correspondence course. Belascoaran is a cynical, bumbling private eye who marvels at the chaotic street life unfolding around him in Mexico City.
Depending on whom you ask, the Supreme Court's decision to uphold the federal health care law will either help businesses grow or it will make them more hesitant to hire.
Thursday's decision to uphold the law, including the provision requiring individuals to buy insurance, has some far-reaching implications in the business world.
Dan Danner, CEO of the National Federation of Independent Business, a business lobby that helped bankroll the suit seeking to strike down the law, said the 5-4 decision was unambiguously bad for business.
With just two days left before Mexicans elect a new president, polls show that the candidate of the former ruling party is poised to win the race by a wide margin. But there are those who don't want to see a return of the PRI, which ruled Mexico for more than 70 years until 2000 with a mix of corruption and cronyism. They say their best hope is leftist PRD party candidate Andres Manuel Lopez Obrador.
The Supreme Court's decision to uphold nearly all of the Affordable Care Act may move the debate to the presidential campaign trail. But it shifts much of the burden of implementing the law to the states.
States are actually responsible for the lion's share of getting people without insurance covered under the health law.