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Wednesday, December 05, 2012

The Two-Way

Citigroup Cutting 11,000 Jobs, Taking $1.1 Billion In Charges

A Citibank branch in Manhattan.

December 5, 2012 Banks have been under increasing pressure to cut costs and eliminate redundancies. The cuts will eliminate about 4 percent of Citi's workforce.

Summary

Economy

A Thin Line: Economic Development Or Corporate Welfare?

In her series for The New York Times, reporter Louise Story says that the manufacturing sector — automakers, in particular — benefit the most from incentive packages.

December 5, 2012 In her new series for The New York Times, reporter Louise Story traces the complicated relationship between localities and the corporations they want to lure to their states, counties and cities to help promote economic growth.

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The Two-Way

118,000 Jobs Added To Payrolls Last Month, Report Signals

A "closed" sign at a coffee shop in New York City, where many businesses had to shut down for at least a few days before, during and after Superstorm Sandy.

December 5, 2012 The ADP National Employment Report shows slower job growth than in October. The lingering effects of Superstorm Sandy get the blame.

Summary

The Two-Way

Deal Struck To End L.A. Port Strike; Walkout Was Delaying Billions In Goods

Work can start again: This ship, loaded with containers, was sitting beneath idle cranes Tuesday at the Port of Los Angeles.

December 5, 2012 Clerical workers walked out a week ago, demanding guarantees that their jobs won't be outsourced in the future. Longshoremen wouldn't cross the picket lines, bringing the nation's busiest ports to a standstill. But work should resume there today.

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The Salt

Milk Producers Peer Over The Dairy Cliff

Dairy farmer Bob Andrews feeds heifers in the same barn his grandfather used. He says today "the harder you work, the further you get behind."

December 5, 2012 The expiration of the farm bill has left dairy farmers without a milk pricing program — and a safety net. While all farmers are watching closely, milk producers face an environment where cow feed costs more than cow milk.

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Education

When The Art Of The Deal Includes Improv Training

A handshake

December 5, 2012 Some top-tier business schools — Duke, UCLA, MIT and Stanford — are teaching improv as a way for students to increase collaboration, creativity and risk taking. An instructor at MIT says success in business, as in improvisation, can hinge on your ability to rebound.

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The Salt

Palestinian Olive Harvest Turns Bitter As Economy Sputters

Palestinian women harvest olive trees near the occupied West Bank village of Deir Samet near the town of Hebron.

December 5, 2012 Olive trees symbolize peace and freedom for the Palestinian people, but the economic realities of living in the West Bank are making it harder than ever to cultivate and harvest this traditional food source.

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Around the Nation

Pot Is Legal In Washington State, But Don't Drive High

Chris Guthrie, vice president for operations at Canna Pi medical dispensary, inspects a medical marijuana product at his clinic in Seattle on Monday. Marijuana will be legal in Washington state from 12:01 a.m. Thursday.

December 5, 2012 Last month's ballot initiative that legalized marijuana contained a deal-sweetener for hesitant voters — a new DUI standard that may make life riskier for regular pot users. Regular users of medical marijuana say they'll be stuck on the wrong side of the law.

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Your Money

More Large Retailers Ease Customers' Path To Credit

Home Depot has long offered credit cards, partly to serve customers who have just suffered major house damage. The company has recently widened those efforts. Here, a Tampa, Fla., customer buys a generator and bottled water, preparing for Tropical Storm Isaac's arrival in August.

December 5, 2012 Faced with customers who can't use banks, or want to avoid them altogether, big-box stores like Costco and Wal-Mart are offering access to everything from insurance policies to home mortgages.

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