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12:52pm

Wed August 17, 2011
Business

Companies Sit On Cash; Reluctant To Invest, Hire

Originally published on Wed August 17, 2011 7:40 pm

Google plans to buy Motorola Mobility for $12.5 billion in cash. At the end of 2010, Google was sitting on nearly $35 billion, and it's not alone.
Paul Sakuma AP

Google's plans to buy Motorola Mobility for $12.5 billion might seem like a lot of money, but the Web giant can easily afford it. At the end of last year, Google was sitting on nearly $35 billion in cash.

And it's not alone. The U.S. economy may be slowing to a crawl, but a lot of individual companies are richer than ever. They're being cautious about how they spend their cash, though.

"Companies are generating and maintaining more cash than they have aggregate uses for," says Rick Lane, a senior vice president at Moody's.

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12:44pm

Wed August 17, 2011
The Two-Way

Swiss Shoppers Flock To Euro Zone, Boosted By Franc's Surge In Value

Originally published on Wed August 17, 2011 2:03 pm

After a day of shopping, residents of Geneva get on a bus to head home this past Saturday, carrying 250 euros' worth of groceries they bought at the Carrefour supermarket in Ferney-Voltaire, France.
John Heilprin AP

The Swiss franc has emerged as a safe haven currency for investors spooked by economic uncertainty in the U.S. and the European Union's euro zone. In the past year, the franc's value has soared — and now Swiss shoppers are going bargain-hunting in Europe's malls and shops.

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12:30pm

Wed August 17, 2011
World Cafe

Warren Haynes On World Cafe

Guitarist Warren Haynes plays live on today's World Cafe.
Courtesy of the artist

Warren Haynes is one of Rolling Stone's 25 greatest guitarists of all time. Since the 1980s, he's played with the Allman Brothers, the reunited Dead, and his own band, Gov't Mule. Before he took up the guitar, though, Haynes says he wanted to be a singer.

"The first sound that ever made the hair on my arms stand up was black gospel music coming over the radio in North Carolina where I grew up. I got this feeling I couldn't explain," Haynes tells host David Dye in today's interview.

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12:10pm

Wed August 17, 2011
Science

Fresh Allegations Leveled Against Polar Bear Scientist

The polar bear researcher who was suspended from his government job last month has received a new letter from investigators that lays out actions he took that are described as being "highly inappropriate" under the rules that apply to managing federal contracts.

According to the letter, wildlife biologist Charles Monnett told investigators that he assisted a scientist in preparing that scientist's proposal for a government contract. Monnett then served as chair of a committee that reviewed that proposal.

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12:01pm

Wed August 17, 2011
Economy

Study: Child Poverty Up In 38 States In Past Decade

Nearly 15 million children, or 20 percent of America's juvenile population, were living in poverty in 2009, according to a child welfare study released Wednesday.

More than double that number were in households where no parent had a full-time year-round job, according to the report by the Annie E. Casey Foundation, which noted that the child poverty rate grew about 18 percent over the past decade.

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