Hollywood inhabitants always joke that nobody can understand the profit and loss statements of films. There's an old expression: "We shoulda shot the deal instead of the movie — it's got a better plot." The same, it seems to me, could be said of the economics of college athletics.
One week before the pro baseball season ended, Florida Marlins pitcher Leo Nunez made a stunning admission: For the past 10 years, he lied about both his age and his name. As the subterfuge finally came apart, Nunez left for his native Dominican Republic. Details about why he assumed someone else's identity are only now coming out.
"His real name is Juan Carlos Oviedo," Miami Herald reporter Frances Robles tells NPR's Lynn Neary. "And when he was 17, he assumed a friend's identity, who was 16 — because the teams pay so much more money for 16-year-olds."
This summer I spent a month in Egypt doing research for the public radio program Afropop Worldwide. In October, Afropop will begin airing a series of programs looking at Egypt — past and present — through the eyes of musicians. In one episode Egyptians are asked to imagine how the revolution will affect their popular music?
In the past 17 days, people visiting Munich's Oktoberfest drank a record 7.5 million liters of beer — around 1.98 million U.S. gallons. That figure is made more striking if one notes that the festival, which ended Monday, hosted some 6.9 million visitors this year — or 200,000 people short of a record turnout.
Despite that number, there was less violence this year, with the police being called about 100 times fewer than they were in 2010. And Reuters says that only 58 conflicts involved people knocking one another over the head with steins — a drop of 4 from last year.
As President Obama sells his jobs initiative across the country, people in Mississippi point to a program they say is already creating jobs. Mississippi has attracted attention because economists like the way the state got employers to share the cost of hiring workers.
Under the Subsidized Transitional Employment Program and Services, or STEPS for short, the state pays part of the cost of workers' salaries in the hopes that the subsidy will lead to full-time jobs.
Some analysts say this could be a national model, but it comes with a price tag.
The students at Jackson City School didn't get to have the day off last Wednesday, but it was a “Holliday” of sorts, as the Commissioner of the Kentucky Department of Education stopped by the school for a visit that afternoon. Commissioner Terry Holliday came from Frankfort and spent about an hour and 45 minutes at the school, doing a lot of classroom observations and meeting with some of the students and staff.
President Obama has waded into the controversy over bank card fees, suggesting that Bank of America is mistreating its customers with a plan to start charging a $5 monthly fee for the use of its debit card.
In an interview Monday with ABC, the president seemed to suggest the fee could become a target for the federal government's new financial watchdog agency.
"This is exactly why we need this Consumer [Financial] Protection Bureau that we set up, that is ready to go," he said.
Ford and the United Auto Workers union have reached tentative agreement on a new contract. The pact will be voted on later this month. The agreement will bring 1,000 new jobs to Ford's Louisville Assembly plant with the addition of a third shift. And the automaker says it will build a second vehicle at the plant, in addition to the previously announced Ford Escape, according to WHAS-TV.
It's close to noon and a handful of young demonstrators are assembled on Main Street. That number will swell to 30 or 40 by rush hour. Like their counterparts across the country, the Occupy Lexington Kentucky protesters see a direct connection between Wall Street and their own fortunes. "I have a four-year college degree and I work at a coffee shop," says Greg Capillo, an activist who claims hard economic times have put his hopes for a career, and those of several fellow protesters, on hold.