Business & Education

Business & education news

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How many megahacks have we consumers faced in recent memory?

Andrew Madoff, the surviving son of disgraced financier Bernard Madoff, died today of cancer at the age of 48 in New York, his lawyer said.

"Andrew Madoff has lost his courageous battle against mantle cell lymphoma," lawyer Martin Flumenbaum said in a statement quoted by Reuters. "He died peacefully at Memorial Sloan Kettering Cancer Center on September 3, 2014, surrounded by his loving family."

Updated at 3:20 p.m. ET

Associate Attorney General Tony West, the third in command at the U.S. Justice Department, is preparing to announce he will leave government for a job in the private sector, two sources familiar with the decision tell NPR.

In a statement, the Justice Department confirmed West's planned departure.

CVS Caremark has pulled cigarettes from its shelves a month ahead of schedule.

In February, CVS, one of the nation's largest drugstore chains, said it would stop selling tobacco products by October, despite the profits they brought the company. Now cigarettes in the company's stores are history.

University of Alabama

A former Defense Department official has been named executive director of the Cyber Institute at the University of Alabama.

Reginald Hyde retired last year as deputy undersecretary of defense for intelligence and security. The University of Alabama announced that Hyde will head the new institute and its work on cyber security and cyber-related technologies.

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Investors Cash In On Off-Campus Housing

Sep 3, 2014

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College students are settling in for the fall semester and more and more it is happening in privately owned housing - instead of dorms. Over the past decade investors have been cashing in on this growing market. From Atlanta, Susanna Capelouto reports.

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And today's last word in business is clam bake.

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Pittsburgh International Airport employee Bob Mrvos jokes that you could golf in the terminals' corridors — they're that empty, especially compared with other airports he flies into in cities like Los Angeles and Chicago.

"You walk through those airports and you can barely get through the hallway there's so many people," Mrvos says. "And when you land in Pittsburgh, it's like the airport's closed."

Cayenne Creative

The Laclede Group has completed its purchase of Alabama's largest natural gas utility, Birmingham-based Alabama Gas Corp.

Laclede announced the completion of the deal with Energen on Tuesday and said it involved about $1.35 billion in cash and the assumption of $250 million in long-term debt.

Laclede, based in St. Louis, Missouri, announced in April that it would buy Alabama Gas from Energen and expand its service area beyond Missouri. Prior to the acquisition, the company had about 1.1 million customers in Missouri and now has more than 1.5 million in the two states.

The practice of making a restaurant reservation, outside of a tiny minority of extra snooty places, is egalitarian. Tables are given on a first-to-reserve basis, and then, at the appointed time, diners are directed to their seats and the meal begins.

But reservation technology is changing, led by a new set of companies and some of the hottest chefs in America. And as they offer alternatives to the standard method of reserving a table, the new technological possibilities force us to examine a cultural practice that first got going in 18th century France.

Ending decades of family leadership, Washington Post owner Jeffrey Bezos announced on Tuesday that Frederick J. Ryan Jr. would be taking over as publisher of the venerable journalism institution.

Ryan, a former Reagan administration official and founding member of the website Politico, will take over for Katharine Weymouth.

The Post reports:

After operating for only two years, the Revel Casino Hotel has closed down, part of a trend that will reportedly shutter a third of Atlantic City's big gambling halls by the end of September. It cost $2.4 billion to build the Revel facility.

"It's a tragedy," massage therapist Lori Bacum, who worked at the resort's spa, tells NJ.com. "There were some warnings, but none of us thought it would happen. We felt so safe, because this was the place that was going to take (the city) to a new level."

The Politics Of Calling In Sick

Sep 2, 2014

Got the flu? Or a new baby? Perhaps a little one with chicken pox? In most countries, your employer must pay your wages if you stay home sick or to care for others. Not in America.

But a growing grass-roots movement aims to change that — starting with paid sick leave.

Already the movement has met some success. This past weekend, California became the second state in the country to mandate sick leave for employees.

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German Bakers Threaten To Go On Strike

Sep 2, 2014

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Arthur Andersen is back. Or at least the old accounting firm's name will be, for the first time since its association with accounting scandals at Enron more than a decade ago.

The firm was criminally convicted — a decision that was later overturned, although that came too late to save the company.

As of Monday, a company called WTAS is adopting the Andersen name and, in doing so, hopes clients will have forgotten the bad associations.

'That Was The End'

Detroit's historic bankruptcy case is entering the home stretch. The crucial, final trial phase begins Tuesday in a Detroit courtroom.

The trial will decide the fate of a plan to wipe out billions of dollars in debt and help Detroit emerge from bankruptcy as a new, revitalized city.

This trial is a big deal, but don't expect anything with lots of courtroom drama. For one thing, it's federal bankruptcy court — and there's no jury.

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The iconic Showboat casino in Atlantic City closed Sunday, the latest casualty of competition from gambling in other states.

Denise Miller of New Jersey says she was an employee on the first day in 1987 when the Mardi Gras-themed Showboat opened. Although she no longer works there, Miller came down to watch the closed sign hung on the boardwalk entrance.

As they always do on Labor Day, political candidates will begin their campaign sprint to Election Day.

And for years, they have been running on simple advice: "It's the economy, stupid." But this time around the track, they may discover that many Americans want to hear about other issues as well.

Wait. What?

The economy is not the No. 1 issue?

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