National / International News

Matisse exhibition hailed by critics

BBC - Mon, 2014-04-14 08:13
Critics laud one of the largest collections of Henri Matisse's "cut-out" artworks ever assembled for an exhibition opening at Tate Modern.

Real estate flippers are back!

Marketplace - American Public Media - Mon, 2014-04-14 08:13

Some of the biggest players in the housing bubble were house flippers, people who'd buy a house, fix it up and sell it – sometimes at a huge profit. When the bubble burst, the flippers fled. But now they’re back, even in areas that have been overlooked by the big hedge funds and foreign investors. 

For example, take Prince George’s County, Md., which doesn’t have the glitzy condos of Miami Beach or new housing developments of Vegas that big investors like. But it does have lots of housing for middle and low-income families.

That's just fine for Rich Minor, who's been flipping houses for about 30 years. I meet him at his latest acquisition – a house in Bowie, Md.

As he shows me around, Minor explains that he laid low during the housing crisis. He was on one of the first flippers to come back to Prince George’s County in 2009, when you could buy foreclosures cheap. Now, there’s actually a lot of competition, because flipping is back, he says.

“It’s back, and it’s back with a vengeance now, because the deals are much harder to come by,” Minor says.

And even if you get a deal in Prince George’s County, it may be in a neighborhood that's a little dilapidated. That's one reason the big hedge funds and international investors aren't that common here.

“We’re not getting the big boys here, we’re getting the small fries,” says Anthony Sanders, a professor of real estate finance at George Mason University.

The small-fry flippers know they’re going to spend a lot to fix these houses up and that they can’t sell them for too much, because they’re still not in great neighborhoods. But that doesn’t mean there isn’t a lot of competition for fixer uppers, even if rough areas.

“On the open market, we don’t really have a ghost of a chance of acquiring any of these homes," says Maryann Dillon, executive director of Housing initiative Partnership, a non-profit which buys rundown houses, fixes them up, and sells them to low income buyers. "We cannot compete with investors who are all cash offers, who can close in a week or two weeks."

Dillon’s organization is able to buy some houses through a federal program that gives them first dibs over private investors.  But there are no such protections for the low-income buyers Dillon tries to help.  She’s seen people who’ve clawed back from foreclosure trying to buy a new house, but losing out to the flippers.


Percentage of total home sales to flippers

“They lost their nest egg during the recession. And now that things are coming back and there’s an opportunity to rebuild their wealth, they’re losing out yet again," Dillon says.

But at least they're just competing with the small flippers.

“These are not the big operations you find in Las Vegas or Phoenix," says Sanders, "where they’re going to the courthouse and buying up 20 properties, 30 properties and flipping them over the course of a couple months."

Sanders says, if you live in a place dominated by small-fry flippers, be thankful – it could be worse. 

Patients Often Win If They Appeal A Denied Health Claim

NPR News - Mon, 2014-04-14 08:10

Obamacare set national rules for appealing a denied health claim — a process that used to vary by employer and state. Consumers should appeal more often, advocates say. Half the time, they'll win.

» E-Mail This

Trident negotiations not ruled out

BBC - Mon, 2014-04-14 08:07
Downing Street indicates that Trident could be part of any negotiations if Scotland votes "Yes" to independence.

Marketing the moon

Marketplace - American Public Media - Mon, 2014-04-14 08:06

Looking back, sending a man to the moon seems like an easy sell. But in the 1960s, NASA had to convince the American public that the space program was a good idea.

"In the 1960s, it was just a radical idea," says David Meerman Scott, co-author of "Marketing the Moon: The Selling of the Apollo Lunar Program." "Can you imagine deciding that we’re going to send 12 people to the surface of the moon and it's going to cost 4 percent of the national budget and 2 percent of the national workforce for a decade? So we had to sell it."

And unlike their Soviet counterparts, NASA allowed their success and failures to be public.

"They were selling it not only to the American people, but to the world," says Richardz Jurek, co-author of the book. "It was really the vanguard of real time communication happening with the whole world watching."

To keep Americans interested, NASA hired former journalists to run their publicity campaign. And NASA's publicity department had help from outside marketers, too. As Americans became more interested in the Apollo program's success, they became more interested in buying items associated with the astronauts.

Any company making something for the astronauts – from Stouffer's to Tang to Omega Watches, used the space program in ads to sell their product.

"The brilliance of what NASA did at the beginning is they focused on what we would call today 'brand journalism' in marketing speak," says Jurek.

Wikimedia Commons

Coke and Pepsi cans flown aboard STS-51-F in 1985  on display at the National Air and Space Museum.

Syria rebels driven from Maaloula

BBC - Mon, 2014-04-14 08:06
Syrian government forces backed by Hezbollah fighters have driven Islamist rebels out of the ancient Christian town of Maaloula, state media say.

Japan May Send Maglev Train Expertise To U.S., Without A Fee

NPR News - Mon, 2014-04-14 08:06

Prime Minister Shinzo Abe has spoken about the idea with President Obama, and Japan is reportedly willing to include billions of dollars in loans to help underwrite the expensive project.

» E-Mail This

Hammer attacker burned partner alive

BBC - Mon, 2014-04-14 08:04
A man who attacked his partner and mother of their four children with a hammer before dousing her with fuel and setting her on fire, is jailed for her murder.

Ohio Ordered To Recognize Out-Of-State Gay Marriages

NPR News - Mon, 2014-04-14 08:01

A federal judge put a "stay" on his ruling, though, which apparently means his order affects only the four couples who sued to have their names put on their children's birth certificates.

» E-Mail This

Anger as fare dodger 'buys silence'

BBC - Mon, 2014-04-14 07:59
There is anger from a rail workers' union after an apparently wealthy fare dodger manages to avoid court action after repaying £40,000.

In pictures: Nigeria bus blast

BBC - Mon, 2014-04-14 07:53
Aftermath of a bomb blast in Abuja

Ladies do lunch to fight 'sexism'

BBC - Mon, 2014-04-14 07:53
...on the Tube as a protest against 'sexism'

VIDEO: Shops willing to sell 'stolen' phones

BBC - Mon, 2014-04-14 07:51
An undercover investigation by BBC London exposes a black market of shops and traders who are willing to deal in stolen smartphones.

Fresh pro-Russian attack in Ukraine

BBC - Mon, 2014-04-14 07:49
Pro-Russian activists attack another official building in east Ukraine, ignoring a deadline to leave or face eviction by Ukrainian forces.

Casement social club row resolved

BBC - Mon, 2014-04-14 07:46
The dispute over the future of a social club in the grounds of the Gaelic Athletic Association's Casement Park stadium in Belfast is resolved.

French Police Deploy DNA Dragnet To Solve Rape Of Teen

NPR News - Mon, 2014-04-14 07:46

Investigators say they've run out of leads in the September rape at a high school in western France and are hoping that a mass sampling of male students will produce a suspect.

» E-Mail This

IRA membership trial collapses

BBC - Mon, 2014-04-14 07:44
The trial of man accused of being a member of the Provisional IRA collapses at Belfast Crown Court.

SpaceX to launch supplies to station

BBC - Mon, 2014-04-14 07:42
SpaceX is set to launch its third commercial cargo re-supply mission to the International Space Station, and conduct another test in its programme to recover flown rocket parts.

Deficit Forecasts Shaved, But Likely Won't Shrink For Much Longer

NPR News - Mon, 2014-04-14 07:32

While the Congressional Budget Office has lowered its shortfall projections for the next few years, it warns that deficits will start rising substantially again unless policymakers act.

» E-Mail This

Murder charge over woman's death

BBC - Mon, 2014-04-14 07:28
A 19-year-old man is charged with the murder of 51-year-old Isabelle Sanders and the attempted murder of her 85-year-old partner Norman Busby.
ON THE AIR
BBC World Service
Next Up: @ 05:00 am
Democracy Now

KBBI is Powered by Active Listeners like You

As we celebrate 35 years of broadcasting, we look ahead to technology improvements and the changing landscape of public radio.

Support the voices, music, information, and ideas that add so much to your life.Thank you for supporting your local public radio station.

FOLLOW US

Drupal theme by pixeljets.com ver.1.4