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12:00 pm
Tue December 27, 2011

Northeast Winter Lovers Suffer Through Warmth

It's been another warm, rainy day in much of the Northeast, with temperatures in some areas topping 40 degrees. If you hate shoveling snow, or paying big heating bills, that's good news. But for people who love winter sports — and for thousands of businesses that rely on snow for winter tourism — this month's October-like weather has been painful.

Planet Money
11:51 am
Tue December 27, 2011

The Undertakers Of The Retail Industry

Credit Joe Raedle / Getty Images

When the internet kills a big box retailer, Gordon Brothers is the undertaker.

"They're stuck with selling the things that are inside the box," says bankruptcy lawyer Steve Jakubowski.

Gordon Brothers specializes in retail liquidations. When a store dies, they put on a suit, greet the guests and sell them whatever remains. And that means everything — not just books and clothing and DVDs, but shelves, lighting fixtures, even the chairs.

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The Two-Way
11:25 am
Tue December 27, 2011

Reports: Democratic Sen. Ben Nelson Won't Seek Re-election

Credit Chip Somodevilla / Getty Images
Sen. Ben Nelson (D-Neb.).

The race for control of the Senate just got even more interesting with word from several news outlets that Sen. Ben Nelson (D-Neb.) won't be seeking re-election in 2012.

The Omaha World-Herald says "it's good news for Republicans, but incredibly bad for Democrats who need the equivalent of a Christmas miracle to keep the seat."

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The Two-Way
11:15 am
Tue December 27, 2011

Brazil Overtakes U.K. As World's Sixth Biggest Economy

Credit Vanderlei Almeida / AFP/Getty Images
Thousands of people crowd Ipanema Beach in Rio de Janeiro, Brazil as summer gets going in the Southern Hemisphere.

Brazil is now the world's sixth biggest economy overtaking the U.K., according to the Centre for Economics and Business Research. As the Financial Times puts it, it's another milestone that's part of a larger trend where emerging economies outpace developed ones. China, they report, overtook Japan earlier this year.

The BBC explains:

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Politics
11:14 am
Tue December 27, 2011

Congress Really Is As Bad As You Think, Scholars Say

Credit Chip Somodevilla / Getty Images
House Minority Whip Steny Hoyer answers reporters' questions about the House's inability to pass a payroll tax cut extension. At right is Democratic Rep. Chris Van Hollen of Maryland.

Congressional approval ratings are on the rocks, hovering in or near single digits for the first time since pollsters started measuring them. But just how bad is the current congressional stalemate?

Thomas Mann, senior fellow of governance studies at the Brookings Institution in Washington, is working on a book about Congress with a title that provides a succinct answer: It's Even Worse Than It Looks.

In modern history, Mann says, "there have been battles, delays, brinkmanship — but nothing quite like this."

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