Business

A couple generations ago, when older Americans retired they could rely on pension plans to support them. Then, in the late 1970s and early 1980s, many companies switched their retirement plans over to 401(k) accounts. The security of workers' retirement savings suddenly became subject to the vagaries of the stock market.

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NEAL CONAN, HOST:

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NEAL CONAN, HOST:

This is TALK OF THE NATION. I'm Neal Conan in Washington. Thirty million dollars is a lot of money, but how do you divide it among the families of the three people killed, the dozens maimed, the hundreds who spent time in the hospital, the thousands who witnessed the blasts at the finish line of the Boston Marathon last month?

A study published online recently in the journal Environmental Health Perspectives documented slightly elevated levels of arsenic in samples of chicken purchased at grocery stores in 10 cities in the U.S.

So how did trace amounts of this toxin end up in supermarket poultry?

Billionaire investment legend Warren Buffett's Berkshire Hathaway Inc. has had its credit rating lowered from AA+ to AA by Standard & Poor's Ratings Services.

In a statement, S&P says that even though Berkshire Hathaway has an "excellent business profile," the lower credit rating "better reflects our view of BRK's dependence on its core insurance operations for most of its dividend income." (S&P's statement is posted on its website, but you have to register to view it.)

Thursday morning's economic news:

-- There were 360,000 first-time claims for unemployment insurance last week, up 32,000 from the week before, the Employment and Training Administration says. At 360,000, the pace was the fastest since the last week of March. But it remained well below the 400,000-and-higher rate that lasted from mid-2008 into 2011.

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STEVE INSKEEP, HOST:

Japan's economy is finally getting a lift. The stock market is soaring there. Companies like Toyota and Sony are seeing a surge in profits. And today, Japan's government reported the economy grew a three-and-a-half percent annual rate in the first three months of the year, a significant improvement.

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DAVID GREENE, HOST:

A dozen universities are collaborating on a sort of extreme winemaking project: How cold a climate can a grape survive and still make good wine? The Northern Grapes Project is inventing wines the world has never seen before, winning wine awards and creating a new crop for struggling rural economies.

The broadcast networks are in New York this week pitching their fall TV shows to advertisers. David Greene talks with reporter Kim Masters, of The Hollywood Reporter, about the new shows and indications the industry is in decline. Masters also hosts The Business on member station KCRW.