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Business Minute: Nike's Future Shoe, Generic vs Brand & Stocks Up

Nike's new future shoe, generic meds put up a fight, and stocks start the week off right. It's time now for your Business Minute.
Time now for your Business Minute on this Tuesday morning.

NIKE'S 'BACK TO THE FUTURE' SHOE

Nike is planning to make self-tying shoes, similar to the ones seen in the film "Back to the Future 2". The sneaker magazine, Sole Collector, reports Nike designer Tinker Hatfield confirmed the news during an appearance at Jordan Brand's Flight Lab in New Orleans last week.

You may remember,  Michael J. Fox's "Back to the Future" character, Marty McFly, wore self-tying Nike Mags in the movie during the year 2015. Sole Collector reports Nike's real-life self-tying shoes are also slated to come out in 2015.

GENERIC vs BRAND

Companies behind generic drugs are fighting a proposal requiring them to warn patients of all known health risks, according to an article out of the Los Angeles Times. The president of the Generic Pharmaceutical Association, an industry trade group, told the paper the rule would  raise health care costs and "create dangerous confusion" for doctors and patients. The FDA is trying to close a legal loophole that requires brand name drugs to warn consumers, but not the generic drugs.

FIRST CUT IS THE DEEPEST...

Budget cuts at the IRS could mean less help for you during tax time. USA Today reports the agency is working with fewer employees. The IRS chief says phone lines will be "very busy" and that you could spend a long time on hold. A recent report by the IRS Taxpayer Advocate also says the IRS won't be preparing returns for the elderly or disabled this year.

A GOOD START...

A good start to the week for the Dow Jones, closing up 126 points Monday. The Nasdaq gained 3 points, and the S&P gained  8.
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