Steinway & Sons, the 160-year-old musical instrument maker, is set to change hands.
Last month, a private equity firm emerged as the company's likely buyer. But a mystery bidder — rumored to be hedge fund manager John Paulson — has swooped in at the last minute, and now looks likely to take control of one of the oldest manufacturers in the United States. Paulson made billions betting against the housing market at a time when many thought housing prices could only go up. His reported offer for the company is $458 million.
Ten years ago, a sagging power line hit a tree near Cleveland, tripping some circuit breakers. To compensate, power was rerouted to a nearby line, which began to overheat and sink down into another tree, tripping another circuit. The resulting cascade created a massive blackout in the Northeast U.S., affecting power in eight states and part of Canada.
What's the busiest U.S. Consulate in the world? If you guessed in Mexico or China, you'd be wrong.
It's actually in Brazil, Sao Paulo to be exact. The consulate there is giving a record number of visas to Brazilians who want to visit the U.S. And that is giving a boost to the economies of cities like Miami.
On a recent day, Tiago Dalcien and his girlfriend stand outside the U.S. Consulate in Sao Paulo clutching their passports and other documents. He is a 30-year-old banker; his girlfriend is a doctor.
For the month of August, Morning Edition and The Race Card Project are looking back at a seminal moment in civil rights history: The March on Washington for Jobs and Freedom, where the Rev. Martin Luther King Jr., delivered his iconic "I Have A Dream Speech" on Aug. 28, 1963. Approximately 250,000 people descended on the nation's capitol from all over the country for the mass demonstration.
In the town where I grew up — Memphis, Tenn. — Tad Pierson has made a career out of his love for cars and American music by working as a tour guide. We meet in the grand lobby of the Peabody Hotel, the downtown landmark famous for its ducks and Southern elegance. But it's also considered the starting point of the Mississippi Delta, a region steeped in the blues.