In 1984, it cost $10,000 a year to go to Duke University. Today, it's $60,000 a year. "It's staggering," says Duke freshman Max Duncan, "especially considering that's for four years."
But according to Jim Roberts, executive vice provost at Duke, that's actually a discount. "We're investing on average about $90,000 in the education of each student," he says. Roberts is not alone in making the claim. In fact, it's one most elite research institutions point to when asked about rising tuition.
For a political party already facing a difficult midterm election the way the Democrats are, the fewer internally divisive issues the better.
And few items were more divisive among Democrats than President Obama's previous proposal to reduce Social Security entitlement spending by using a less generous formula to calculate cost-of-living increases, so long as Republicans agreed to raise revenue by ending or reducing loopholes that would raise revenue.
From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.
ROBERT SIEGEL, HOST:
And I'm Robert Siegel. Yesterday, Facebook bought a little startup for a lot of money, $19 billion in cash and stock. It's hard to fathom a price tag that big. Half the companies in the S&P 500 aren't worth that much. But a look at who exactly is using the application called WhatsApp may explain the value that Facebook sees in it. Here's more from Aarti Shahani of member station KQED in San Francisco.
Originally published on Thu February 20, 2014 11:43 am
The company in charge of the Keystone XL extension said Thursday that it is considering its next move now that a Nebraska judge has struck down a law that allowed the pipeline to be routed through that state.
"We are disappointed and disagree with the decision of the Nebraska district court and will now analyze the judgment and decide what next steps may be taken," TransCanada Corp. said in a statement. "Nebraska's attorney general has filed an appeal."
Originally published on Thu February 20, 2014 10:37 am
There were only 3,000 fewer first-time claims filed for jobless benefits last week, but the slight decline is being seen as another sign that the nation's labor market will gain some strength once spring arrives.
Back in 2012, reporter Kevin Roose went undercover at a very exclusive party.
It was a dinner for a secret society, held once a year, at the St. Regis hotel in New York City. The secret society is called Kappa Beta Phi, and it's made up of current and former Wall Street executives — people like Michael Bloomberg, former heads of Lehman Brothers, Bear Stearns, Goldman Sachs. And every year the group holds a dinner to induct new people into the group — they're called neophytes.
Seeking new ways to be a player in mobile messaging, Facebook announced today that it will acquire the fast-growing WhatsApp firm for some $16 billion in cash and stock. The deal includes an additional $3 billion in Facebook stock for the employees of WhatsApp, who would see the shares vest over four years.
This is the second headline-grabbing acquisition by Facebook, following the $1 billion deal for Instagram that was announced in the spring of 2012. The new deal calls for Facebook to pay $4 billion in cash, along with around $12 billion in stock.
A leader of the U.S. manufacturing sector is calling on Congress and the president to put aside their differences. Jay Timmons, who is head of the National Association of Manufacturers, would like to see some progress on the president's trade agenda.
Chuck Quirmbach of Wisconsin Public Radio reports.
Coffee is important to many of us, but let's say your coffee maker breaks. Finding a new one is as easy as typing "shop coffee maker" into your browser. Voila — you've got models, prices and customer reviews at your fingertips.
But say you need something less fun than a coffee maker — like a colonoscopy. Shopping for one of those is a lot harder. Actual prices for the procedure are almost impossible to find, and Bob Kershner says there's huge variation in cost from one clinic to the next.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
AUDIE CORNISH, HOST:
And I'm Audie Cornish.
A new report out this afternoon poured some gasoline on the already raging debate over whether to raise the minimum wage. The report from the Congressional Budget Office says boosting the federal minimum to $10.10 an hour, as President Obama has proposed, would lift 900,000 people out of poverty. But it would also cost about half-a-million jobs.
The United Auto Workers Union suffered a major defeat when a drive to represent workers at a Volkswagen plant in Tennessee failed last week. Right now, leaders of the AFL-CIO are holding their winter meetings in Houston and that VW vote is a major topic.
NPR national political correspondent Don Gonyea has more.
I'm Michel Martin and this is TELL ME MORE from NPR News. Now we want to take a look at the economy, and we wanted to focus today on people who have been unemployed for a while. There are currently 3.6 million Americans who've been unemployed for more than six months. That's according to the latest numbers from the Bureau of Labor statistics.
Inside one in a series of abandoned homes along a blighted block of Detroit's Brightmoor neighborhood, filmmaker Tom McPhee walks through the remnants of a life — broken furniture, scattered knickknacks and a flooded basement.
"This is fresh water that's coming into the basement here," McPhee points out. "All of that plumbing has been ripped away 'cause someone found a value in it, so they don't care that it's running. This is all over the city."
So far this year, retail chains have announced some heavy cuts. J.C. Penney said it would close 33 stores. Macy's said it would lay off 2,500 workers. Sears will close its flagship Chicago store in April.
That's creating a glut of excess space. But that's just one of several forces changing the face of retail.
Electronic cigarettes are often billed as a safe way for smokers to try to kick their habit. But it's not just smokers who are getting their fix this way. According to a survey published by the Centers for Disease Control and Prevention, 1 in 5 middle school students who've tried one say they've never smoked a "real" cigarette. And between 2011 and 2012, e-cigarettes doubled in popularity among middle and high school students.
In the past, you could go to jail for selling marijuana. Now, depending upon where you live, you could end up going to the bank.
Medical marijuana is now legal in 20 states, and legislation is pending in 13 others. It's become a $1.5-billion-a-year industry, and it's expected to triple in just a few years. With legal cannabis one of the world's fastest growing market sectors, investors are seeing green.
This is WEEKEND EDITION from NPR News. I'm Scott Simon. Tough night for the United Auto Workers. The union hoped employees at Volkswagen's only U.S. plant might help give them a foothold into foreign-owned auto plants across the South, but VW workers voted no, and Volkswagen had not opposed their efforts. Blake Farmer of member station WPLN in Nashville has been covering the story and joins us now. Blake, thanks for being with us.
BLAKE FARMER, BYLINE: Thanks for having me.
SIMON: Didn't the union think they had the numbers?
Being a physician today bears little resemblance to the Rockwellian family doctor who generations ago made house calls. The Affordable Care Act is one reason, but just the latest among many factors that have reshaped the practice of medicine. We wanted to get a view of those changes through the eyes of doctors.
Eric Whitney spend time with a father and son who are part of three generations of physicians. We're airing this encore story that looks at whether medicine will still be a good career choice for a fourth generation.
Some 1,500 workers at a Volkswagen plant in Tennessee have voted not to join the United Auto Workers union. The tally of the three-day vote follows days of political prodding from both sides of the issue.
The 712-626 vote was a devastating blow to the UAW, which had tacit support from VW. The union had hoped to make inroads in auto plants in the South, where organizers have been striving for decades to represent factory workers.
VW had even allowed organizers into the plant to make their sales pitches.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
The Treasury and Justice Departments today sought to clarify for banks how they might navigate the murky legal waters of the marijuana business. Murky because pot is legal in a growing number of states but remains illegal under federal law. NPR's Yuki Noguchi reports on these new terms under which a bank must operate if it wants to offer financial services to this emerging industry.
This is TELL ME MORE from NPR News. I'm Michel Martin. Much of the East Coast is digging out from ice and snow including Washington, D.C. But members of Congress beat the bad weather out of town and are back in their districts for a two week recess, this after a vote to raise the debt ceiling - a vote that came unusual for these times without an ugly showdown.
On this Valentine's Day, Renee Montagne talks to a young economist about how he tried to apply the rules of the market to his love life. William Nicolson chronicles his journey to find a girlfriend in the memoir, The Romantic Economist.
This week Getty Images teamed up with LeanIn.org, the nonprofit foundation of Facebook's Sheryl Sandberg, to release a new collection of stock photos. There are about 2,500 new images of modern women and families.
Iran's economy may be struggling, but that doesn't mean everyone is suffering.
In a downtown Tehran restaurant, a well-dressed young man who asks to be identified only as Ahmad sits with a friend enjoying a water pipe of flavored tobacco.
Ahmad is a bit vague about what he does — first he says he's in the petrochemical business, then describes himself as an independent trader. He shares the general consensus that President Hassan Rouhani has brought a better atmosphere to the country but no real economic changes.