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Amy’s Baking Co. meltdown begs the question: Is Yelp bad for small business?

Washington Post Business - Fri, 05/17/2013 - 5:00pm

Reality TV producers dream of people like Sammy and Amy Bouzaglo, the hypersensitive and slightly unbalanced restaurateurs who appeared on Fox’s “Kitchen Nightmares” this week -- and then proceeded to publicly melt down on social media, flinging all-capped profanities at the Yelp and Reddit users “working together to bring us down.”

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This is the only graph you need on Washington's budget debate

Washington Post Business - Fri, 05/17/2013 - 3:44pm

The Congressional Budget Office released their analysis of President Obama's 2014 budget proposal today. The bottom line? It more than solves our deficit problem for the next decade, and for some time beyond that. And unlike the status quo — which also reduces the deficit, though not by as much — it brings the deficit down gradually over 10 years, rather than reducing it sharply over the next two years and then watching it rise slowly over the next decade.

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Should Yahoo buy Tumblr?

Washington Post Business - Fri, 05/17/2013 - 3:33pm

Tumblr has been one of the fastest- growing sites on the Web, boasting 107.9 million blogs and a whopping 50.7 billion posts since it was founded in 2007.

That growth has reportedly caught the eye of Web giant Yahoo. All Things Digital reported that Yahoo is eyeing the blogging platform, and reporters Peter Kafka and Kara Swisher said that “sources close to the situation” have said the two companies are in “serious” talks. Still, the report said, the negotiations are far from final.

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Food aid reform is running into trouble in Congress

Washington Post Business - Fri, 05/17/2013 - 2:47pm

One of the attention-grabbing ideas in the White House's 2014 budget was a big overhaul of the $1.4 billion U.S. food aid program. Instead of buying food from U.S. farmers and shipping it overseas, some of the money would just be sent directly to poor countries.

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How the FBI's online wiretapping plan could get your computer hacked

Washington Post Business - Fri, 05/17/2013 - 1:10pm

The FBI is pushing for expanded power to eavesdrop on private Internet communications. The law enforcement agency wants to force online service providers to build wiretapping capabilities into their products. But a group of prominent computer security experts argues that mandating "back doors" in online communications products is likely to compromise the security of Americans' computers and could even pose a threat to national security.

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'Soul Train' meets Daft Punk

Washington Post Business - Fri, 05/17/2013 - 12:48pm

You know what was a great show? "Soul Train." You know what's a great song? Daft Punk's "Get Lucky." You know what two things are mashed up in the below video? I think you know:

Hat-tip to a very effusive Gabe Delahaye.

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Unemployment rate falls in Md., Va., D.C.

Washington Post Business - Fri, 05/17/2013 - 12:00pm

Automatic federal spending cuts did not appear to be a major drag on job growth in the Washington region in April, according to data released Friday that showed a drop in the unemployment rate for all three jurisdictions.

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The Senate has passed 48 amendments to the immigration bill. Here's what they do.

Washington Post Business - Fri, 05/17/2013 - 11:49am

We're only three days into the Senate Judiciary Committee's markup of S. 744, the Gang of Eight's immigration bill, but already 48 amendments to the bill have been adopted. Forty two passed by voice vote, and six by roll call. Many are technical corrections but a few make real, serious changes to the bill. Let's go through them, day by day.

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'The Office' business lesson: Don't be anything like Dunder Mifflin

Washington Post Business - Fri, 05/17/2013 - 11:43am

Most people enjoyed "The Office" most for the antics of boss Michael Scott, or the touching relationship between paper salesman Jim Halpert and erstwhile receptionist Pam Beesly. I liked the show, which aired its finale after nine seasons Thursday night, best when it gave us a window into the business practices of this particular office.

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When Medicare launched, nobody had any clue whether it would work

Washington Post Business - Fri, 05/17/2013 - 11:16am

Welcome to Health Reform Watch, Sarah Kliff's regular look at how the Affordable Care Act is changing the American health-care system — and being changed by it. You can reach Sarah with questions, comments and suggestions here. Check back every Monday, Wednesday and Friday afternoon for the latest edition, and read previous columns here.

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How the geography of U.S. immigration has changed over time

Washington Post Business - Fri, 05/17/2013 - 11:01am

Where do immigrants to the United States come from? A new Pew report finds that this has been slowly changing over time. In 1992, most legal immigrants came from Latin America and Europe. Nowadays, they're more likely to come from Asia and Africa:

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Rothschild scion’s deal with the Bakrie family to create a coal colossus goes up in smoke

Washington Post Business - Fri, 05/17/2013 - 10:42am

Nat Rothschild, dressed in a hooded sweater, jeans and hiking boots, perches on a cowhide sofa in his relatively modest chalet-style apartment in the Swiss ski resort of Klosters.

He recalls the fateful day in October 2010 when, as he scanned the globe for business opportunities, he first heard the word “Bumi.”

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In a drive toward reform, World Bank’s Jim Yong Kim turns to a ‘deliverologist’

Washington Post Business - Fri, 05/17/2013 - 10:11am

The advice Sir Michael Barber offers about public management is not warm and fuzzy.

If a narrow monopoly interferes with service delivery, break it. If cronyism supplants merit hiring, bust it up. If a school or hospital or train line runs behind, offer the support needed to improve — then track the performance relentlessly and ride whoever is responsible until it does.

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Maligned dollar flourishes in Venezuela

Washington Post Business - Fri, 05/17/2013 - 9:26am

CARACAS, Venezuela — The once-almighty U.S. dollar has lost its luster in some corners of the world.

But there’s one outpost where greenbacks have never been stronger: in socialist, anti-imperialist Venezuela, whose government rails against American-style capitalism as the bane of humanity. The dollar is not just holding steady here — it is flourishing like nowhere else, the byproduct of the fast-wilting economy President Hugo Chavez left behind when he died in March.

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Wonkbook: House Republicans hate Obamacare. But they also kind of need it.

Washington Post Business - Fri, 05/17/2013 - 8:09am

Welcome to Wonkbook, Ezra Klein and Evan Soltas's morning policy news primer. To subscribe by e-mail, click here. Send comments, criticism, or ideas to Wonkbook at Gmail dot com. To read more by Ezra and his team, go to Wonkblog.

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Bill Gates: 'Death is something we really understand extremely well'

Washington Post Business - Fri, 05/17/2013 - 6:05am

"I always use this chart of childhood death," Bill Gates says. "In 1960, 25% of kids died before the age of 5. And now we're down below 6% of kids dying before the age of 5."

We're sitting in a bare conference room at his foundation's D.C. headquarters. Gates is in town to talk to members of Congress about his top priority this year: Global health and, in particular, the total eradication of polio. He wants to drive that 6 percent even lower, and he believes he can. Wiping out a disease like polio sounds impossible. But it's actually, Gates tells me, completely achievable. Perhaps even by the end of 2013. This is a transcript of our conversation, edited for length and clarity.

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Bill Gates: 'Death is something we really understand extremely well'

Washington Post Business - Fri, 05/17/2013 - 6:05am

"I always use this chart of childhood death," Bill Gates says. "In 1960, 25% of kids died before the age of 5. And now we're down below 6% of kids dying before the age of 5."

We're sitting in a bare conference room at his foundation's D.C. headquarters. Gates -- who Bloomberg News calculates is once again the world's richest man -- is in town to talk to members of Congress about his top priority this year: Global health and, in particular, the total eradication of polio. He wants to drive that 6 percent even lower, and he believes he can. Wiping out a disease like polio sounds impossible. But it's actually, Gates tells me, completely achievable. Perhaps even by the end of 2013. This is a transcript of our conversation, edited for length and clarity.

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Tesla’s market value soars, but some see a bubble

Washington Post Business - Thu, 05/16/2013 - 8:45pm

Tesla Motors is on a remarkable run for a company that not long ago seemed to be sputtering.

The luxury electric-car maker’s flagship sedan, the Model S, won Motor Trend’s 2013 car of the year honors, then earned a rare, near-perfect rave from Consumer Reports.

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SEC pressed to abandon corporate political spending disclosures petition

Washington Post Business - Thu, 05/16/2013 - 8:42pm

House Republicans repeatedly warned the chairman of the Securities and Exchange Commission on Thursday against dragging the agency into a political fray, evoking the scandal at the IRS over the targeting of conservative groups.

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Fed officials differ on direction of recovery

Washington Post Business - Thu, 05/16/2013 - 7:24pm

Federal Reserve officials are grappling with how to decipher the economy’s mixed signals and what to do with the central bank’s multibillion-dollar stimulus effort.

The past two days have brought an unusual but uncoordinated flurry of speeches by the central bank’s top brass. Six Fed officials outlined diverse — and sometimes opposing — interpretations of the direction of the recovery and the appropriate response.

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