Entries in CNN (3)


Agriculture Secretary: Drought Won’t Affect Food Prices This Year

Jupiterimages/Pixland/Thinkstock(NEW YORK) -- Food prices may go up next year, but for now the severe drought conditions should not have an immediate effect on prices at the grocery store, according to Agriculture Secretary Tom Vilsack.

“The prices and the impact of a drought will probably not likely be seen in the grocery aisle until later next year in 2013,” Vilsack said on CNN’s “State of the Union.”

Commodity prices are different from actual prices that we see in the stores the next day.  And while commodity prices are on the rise, Vilsack argues that those increases will not translate into immediate price increases.

The secretary also chastised any business currently engaged in price gouging.

“If folks are using this opportunity to raise prices inappropriately, then shame on them,” Vilsack said.

Vilsack instead points to the high energy costs associated with transporting food as the culprit for any recent fluctuation in supermarket prices.

“That’s why it’s important for us to continue to focus on the President’s ‘all of the above’ approach to produce more energy in the United States,” he said.

Congress is considering a farm bill that would reinstate farmer disaster relief.

Copyright 2012 ABC News Radio


CNN Reportedly In Talks to Buy Mashable

Mario Tama/Getty Images(NEW YORK) -- CNN is said to be in "advanced talks" with Mashable to acquire the technology and social media news website.

The New York Times confirmed earlier reports of the alleged acquisition, citing three people familiar with the talks.  Those people cautioned, however, that the deal may not go through.

Both CNN and Mashable have declined to comment on the matter.

Copyright 2012 ABC News Radio


'Prosperity Will Return' to America, Ted Turner tells ABC News

Photo Courtesy - ABC News(WASHINGTON) -- Ted Turner, the entrepreneur founder of CNN, believes things are looking brighter for the U.S. economy.

“We're correcting things,” Turner said in an exclusive interview with ABC’s This Week with Christiane Amanpour. “We've already paid off $1 trillion of our debt in the last couple of years by not borrowing so much. We're cutting down on our borrowing and people are cutting down on their expenses," he said.

"But, you know," Turner explained, "prosperity will return. It always has and I think it will."

On another hot-button issue, the CNN founder rejected any plans to cut or "means-test" Social Security, which would give smaller payments to the wealthy. "I paid for Social Security. It's my own money I'm getting back," Turner said.

"Social Security, we get taxed for Social Security. That's like stealing our money for the government to cut back on Social Security, in my opinion. I think Social Security -- since you paid for it, it's yours and you're entitled to get it," he said.

Copyright 2010 ABC News Radio

ABC News Radio