Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
The durable goods number today came with a mixed message. They were up big, but only because Airline companies bought lots of planes. Take that number out, and things don’t look so rosy. Plus, according to data from the credit agency TransUnion, the national credit card delinquency rate has declined to its lowest level in the last seven years, to 1.16 percent. Banks are known to make revenue from credit card debt and late payments, but how much do they depend on them? Is this latest trend affecting their business – and is the improvement in the payment delinquency rate a blip? Also, CNN is offering buyouts to older employees with several years on board. But what’s the personal calculation when you get an offer in your late 50’s, several years away from retirement, with a comfortable salary. Is it a boon or a jump off a cliff?
Burger King is looking to merge with Canadian coffee and doughnut chain Tim Hortons. It’s the latest chapter in Burger King’s patterned history. It’s gone in and out of private hands over the last few years and has a famously young leadership team. We look at what Burger King stands to gain from Tim Hortons' heft in the breakfast market. Plus, the American Academy of Pediatrics has become the latest group to declare that most middle and high school classes start too early for teenagers. The AAP says classes should begin no earlier than 8:30 am because adolescents are naturally wired to fall asleep after 11 pm and wake up later than most school start times allow for. But few school districts are likely to follow through, because everything from their bus schedules to extracurricular activities is dependent on the current schedule. Also, Miley Cyrus pointed to a longstanding problem when she had a young homeless person go on stage in her place at the VMAs. Lots of young people come to Los Angeles hoping to make it in the entertainment business and then get shipwrecked. She’s chosen My Friend’s Place, which works with young homeless people, as her beneficiary.
Janet Yellen gave a big speech today in Jackson Hole, Wyoming, about the uncertainty of the economy. Should we be worried? We catch up with Catherine Rampell from the Washington Post and John Carney from the Wall Street Journal to discuss the week that was. Plus, California could join the group of states that let community colleges offer four-year degrees in certain subjects like dental hygiene. But do you really need a four-year degree, and what’s the cost? We investigate. Also, the Emmys are on Monday this year, as opposed to Sunday. Why? Because they don’t want to have to compete with Sunday Night Football, of course. It’s just one example of the huge battle being waged over live TV broadcast space. Speaking of athletics, Foot Locker, the athletic shoe store, reported sky-high profits this year thanks to its partnership with Nike. Shoes with the swoosh account for two-thirds of Foot Locker’s sales. But what happens if wingtips become the new workplace fashion? Could Foot Locker be too dependent on Nike?
Philadelphia plans to stop offering subsidies for school bus service for high school students who live within two miles of their school. We look at the impact of cutting out school buses on families and districts and whether those effects differ between urban and suburban areas. Plus, SoundCloud is going to start putting ads into its content stream. What happens to a company when, in order to find a business model, they have to undermine the very thing that created their customer base in the first place. Also, Dollar Store X rejects Dollar Store Z’s bid for it, preferring Dollar Store’s Y bid, saying it fears the X+Z combo couldn't pass antitrust muster. Could there really be an antitrust issue with “dollar stores”? We investigate.
A new study tries to define superfoods. Hint: it's more than just kale.
Central bankers meet in Jackson Hole this week to discuss, among other things, Central Banks. We look at how the role of the Central Bank has changed and how the job of central banker has changed since the Recession. Plus, former Obama campaign operative David Plouffe has joined Uber as a vice president and strategist. Is Plouffe’s move just about the big money of a hightech startup? Or is there an affinity between tech and the Democratic Party that he and other Dems are trying to harness? Also, did you know that the NFL doesn't pay musicians for performing at the Super Bowl? Well, turns out now the NFL wants major artists such as Coldplay, Rihanna, and Katy Perry, the three finalists for next year's show, to pay them to perform at the halftime show. Will artists play ball? We look at the economics of halftime shows.