It's MORNING EDITION from NPR News. Good morning. I'm Steve Inskeep.
President Obama put tax reform back on the table this week. He called for changes to the corporate tax system. Tax rates would go down for companies, deductions would go away - many of them, and companies with overseas operations would find it a little harder not to pay.
Sears says it is spinning off outlet, hometown and hardware stores. The deal is expected to help the company raise up to $500 million. It's also selling some of its other properties in a separate deal.
This comes after Sears said in December it would close about 100 stores after an abysmal holiday shopping season. Transcript provided by NPR, Copyright NPR.
Alexander Payne watches a movie every day — or tries to, anyway. Lately, the writer and director of The Descendants has been busy going to nomination and awards dinners, in advance of Sunday's Oscar night — when the Best Picture, Best Director and Best Adapted Screenplay prizes could be his.
One day Chris Woehrle decided to finally leave his corporate job and pursue his dream: to become an artisanal food craftsman. And so, every day at home, he'd basically pickle stuff.
"I had a refrigerator full of plastic food buckets that were full of pickles and kimchee and sauerkraut and harissa and salsa and ketchup and mustard and, you know, any kind of craft food you could make," Woehrle says.
On Wednesday, President Obama and a number of special guests celebrated the groundbreaking for the National Museum of African American History and Culture. The Smithsonian museum on the National Mall in Washington, D.C., is expected to open in 2015.
President Obama's plan to overhaul the nation's corporate tax system would sharply cut the taxes that U.S. companies pay. But it would also eliminate many of the loopholes that help them pare down what they owe.
White House spokesman Jay Carney says the proposal unveiled Wednesday should appeal to both Democrats and Republicans, by doing what both sides "say is important to do ... which is lower the rate, broaden the base [and] eliminate the underbrush of unnecessary subsidies and loopholes and special provisions that complicate the tax code."
Italian Prime Minister Mario Monti wants more transparency so he made his cabinet disclose their finances. That sparked so much interest, the government website crashed. Ministers own real estate in New York, Brussels and Paris. One made $9 million last year.