Business

10:01pm

Wed January 25, 2012
Planet Money

No, Hedge Funds Can't Foreclose On The Acropolis

Originally published on Mon May 7, 2012 10:12 am

DIMITAR DILKOFF AFP/Getty Images

Greece is broke. But there's no blueprint for a country to declare bankruptcy, so Greece's creditors are sort of making things up as they go along.

"You're taking some sort of loss," Hans Humes of Greylock Capital Management told me. "But it's like, how much of a loss do you take? There's this thing called sovereign immunity. You can't go in and take the Acropolis."

Read more

10:01pm

Wed January 25, 2012
Business

To Grow Business, Starbucks Thinks Outside The Cup

Barista Nicole Adams serves up a drink in March at a Starbucks in downtown Seattle. The company is expanding its coffee options to include a light roast and plans to create a new health and wellness brand.
Ted S. Warren AP

Just four years ago, Starbucks seemed to be losing its mojo. Howard Schultz, the man who made Starbucks a household name, returned to the company as CEO. He closed hundreds of stores, streamlined operations and set the company on a path to record revenues and strong profits.

Starbucks serves 60 million beverages a week, which adds up to big profits. The company reports its earnings Thursday. In a bid to further expand its consumer base, Starbucks has a new roast and plans to produce more retail products to sell outside of its coffeehouses.

Read more
Tags: 

10:01pm

Wed January 25, 2012
Business

Quiznos Gives Up Control To Stave Off Bankruptcy

A man walks by a Quiznos franchise in New York City. The sandwich chain has given up part of its ownership to a private equity firm in order to restructure its debt and avoid bankruptcy.
Rob Kim Landov

Quiznos narrowly avoided bankruptcy this week when the sandwich chain shifted ownership to private equity firm Avenue Capital in exchange for erasing some debt.

The recession and poor management have hit the Denver-based sub-maker hard. The company once boasted more than 5,000 restaurants, but 40 percent of them have now shut their doors.

Andre Bonyadian owns nine Quiznos franchises in and around Los Angeles.

Read more
Tags: 

4:01pm

Wed January 25, 2012
Business

Shoe Company Practices Insourcing For The Sole

Keen's Portland, Ore., factory is equipped to build up to 1.5 million pairs of shoes a year.
Courtesy of Keen

The American economy lost more than 5,000 jobs to offshore outsourcing in 2010, and in Tuesday's State of the Union address President Obama made it clear that he wants them back.

"We can't bring every job back that's left our shores," he said. "But right now, it's getting more expensive to do business in places like China. Meanwhile, America is more productive."

Read more
Tags: 

2:55pm

Wed January 25, 2012
The Two-Way

Treasury Secretary Geithner Doesn't Expect To Be Part Of A Second Term

Originally published on Wed January 25, 2012 3:26 pm

Treasury Secretary Timothy Geithner told Bloomberg Television today that he's "pretty confident" he won't be asked to stay in his job if President Obama is re-elected for a second term.

"He's not going to ask me to stay on, I'm pretty confident," Geithner said. "I'm confident he'll be president. But I'm also confident he's going to have the privilege of having another secretary of the treasury."

Read more

Pages