Good morning, I'm Steve Inskeep. Many of us have left something in a jacket at the dry cleaners, so it's easy to relate to the man who took his suit to Goodwill and gave it away. Only after he left did he realize what a donation he'd made. The suit had $13,000 inside. The elderly man doesn't use banks. That's his life savings.
Goodwill is now trying to find the gray coat and pants, which may be in a warehouse or may already have been purchased. You're listening to MORNING EDITION. Transcript provided by NPR, Copyright NPR.
Steve Inskeep talks to Gene Sperling, head of the president's National Economic Council, about extending the payroll tax cut. The Obama administration is pushing Congress to extend the cut before it expires at the end of the year.
Penn State students attended a forum on campus Wednesday night to discuss the child sex abuse scandal. Former assistant football coach Jerry Sandusky is charged with abusing eight boys over a 15-year period. A new accuser, who is not part of the criminal case, has filed a lawsuit alleging Sandusky abused him more than 100 times and threatened his family to keep him quiet.
Medicare has announced that it will pay for primary care providers to counsel obese patients on losing weight and maintaining the weight loss. Medicare will pay doctors, nurses and physicians' assistants to help plan weight loss programs.
And today's last word in business is West Drainage Ditch. That is currently the name of the creek that runs through Kalona, Iowa. Not the most appealing of names, but a local newspaper editor is exploring plans to change it.
The editor wants a more noble name for the waterway - or the crick(ph), as locals call it, according to the Iowa Press Citizen. City council embraced the idea of a name change, and the editor has put the naming rights up for auction on eBay. Funds will go toward replacing the sidewalks. So get in your bid now.
At a high school in Scranton, Pa., Wednesday, President Obama exhorted Republicans in Congress to extend the pay roll tax cut. He said putting money in the pockets of working people is more important than partisan politics.
Boeing announced a surprise deal with its machinists' union yesterday. It tentatively extends the workers' contract for four years. The company also promises to build a new version of its popular 737 in union-friendly Washington State.
From Seattle, NPR's Martin Kaste reports.
MARTIN KASTE, BYLINE: The International Association of Machinists also got pay raises and more pension benefits. Local president Tom Wroblewski calls it a new day.
NPR's business news starts with cheaper cholesterol drugs for many Americans.
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INSKEEP: The drug maker Pfizer has lost the patent on its drug Lipitor. The patent expired in the United States yesterday. And on the same day, regulators granted an Indian company approval to sell a cheaper, generic version of the cholesterol drug in the U.S. market.
European Central Bank Chief Mario Draghi speaks with Italian Prime Minister Mario Monti at EU headquarters in Brussels on Wednesday. European leaders will meet there next week to discuss their options for fixing the region's sovereign debt crisis.
Next week, leaders of the euro area countries will gather in Brussels in an effort to take a bigger step toward ending the region's sovereign debt crisis. They hope that by agreeing to tougher penalties for countries that break the euro area's budget rules, they can entice the European Central Bank to do more to stem the crisis.
But the question is whether the eurozone countries are willing to give up control of their budgets.