Most Active Stories
- Successful Entrepreneur Paul Cummings & Foundation Leader Cordell Carter Team Up to Launch TechTown
- City of Chattanooga Designates 140-Acre Downtown Area as 'Innovation District'
- Pentagon's Money-Saver: U.S. Troops To Leave 15 European Sites
- Start It Up Ep 10: Why a Good Bookkeeper Matters and Chattanooga's Filmmaking Community is on Fire
- Douglas Tallamy: Why Home Gardening 'Transcends the Needs of the Gardener'
The Last Word In Business
Originally published on Thu May 2, 2013 10:09 am
RENEE MONTAGNE, HOST:
Our last word in business today, is austerity at the French presidential palace.
President François Aland has already enacted several cost-cutting measures since being elected last year.
DAVID GREENE, HOST:
He's cut a fleet of presidential and government cars and reduced ministerial salaries, and now he's raiding the wine cellars for which the presidential palace is famous.
MONTAGNE: The palace will auction off 1,200 bottles of its finest wines - some worth more than $3,000. It hopes to raise over $300,000. The proceeds will be reinvested in more modest wines for the presidential cellar. Clearly no self-respecting French president would have an empty wine cellar.
GREENE: That would never happen. After buying those cheaper wines, the money left over will go to the state budget. For the first two months of this year, France's budget deficit was $35 billion, so whatever money is saved with this wine decision, it'll really just be a drop in the bucket.
That's the business news on MORNING EDITION from NPR News. I'm David Greene.
MONTAGNE: And I'm Renee Montagne. Transcript provided by NPR, Copyright NPR.