NPR's business news starts with American Airlines filing for bankruptcy.
(SOUNDBITE OF MUSIC)
INSKEEP: Let's find out why the parent company of the giant airline sought Chapter 11 bankruptcy protection today. One of the corporate press releases does not offer too much help - not even using the word bankruptcy. Instead, headlined: American Airlines Begins Legal Process in United States to Improve Competitiveness.
NPR's Chris Arnold is covering this story. Chris, what does that actually mean?
Originally published on Tue November 29, 2011 5:18 am
A second day of voting is underway in Egypt's parliamentary elections, with turnout being described as "massive and unexpected" and things moving along peacefully, The Associated Press and NPR's Lourdes Garcia-Navarro report from Cairo.
Good morning. I'm Steve Inskeep. It's never too late to settle a score. Joe Kapp and Angelo Mosca are former Canadian Football League stars. They supposedly haven't liked each other since competing in 1963.
Last week, the 73-year-olds were honored at a lunch. Kapp offered a flower as a peace gesture. Mosca rejected it, and lashed out with his cane. Kapp advanced with his fists.
The short animated film Hungry Hobos created by a young Walt Disney starred a rabbit. It was one of about 26 cartoons featuring Oswald the rabbit. Hungry Hobos screened in 1928 but sat on the shelf for decades. It will be sold at auction.
In New York, yesterday, a federal judge rejected a settlement of a fraud case involving Citigroup. The Securities and Exchange Commission, which brought charges against the bank, had agreed to the $285 million deal. But Judge Jed Rakoff said he didn't believe the settlement was in the public interest. NPR's Jim Zarroli reports.
Another college campus is facing a scandal. A criminal investigation is under way at Florida A&M University in Tallahassee. It comes after the death of a drum major who was in the school's marching band. Allegations that the 26-year-old man died because of hazing have shaken a group many consider one of the best university bands in the nation. Florida Public Radio's Lynn Hatter reports.
LYNN HATTER, BYLINE: The first thing people associate with the Florida A&M University band is the sound.
Peaceful voting in Egypt has given the country's stock market a boost. Cairo's market was closed on Monday when the landmark elections started. When trading opened Tuesday, the benchmark stock index surged more than 5 percent.
According to the latest Census, the wealthiest Americans saw huge jumps in their income, while the rest had their incomes go down. For a deeper understanding of the wealth gap, Steve Inskeep talks to Tyler Cowen, an economist at George Mason University, and Matthew Yglesias, who writes about economics for the website Slate.com.