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.
Alibaba filed its IPO yesterday. But it hasn’t chosen an exchange yet, and the competition between the hot favorites, NYSE and the NASDAQ, will likely be intense.We report on how much money an exchange makes from a big listing like Alibaba. Plus, Stanford University is the first major university to divest itself of carbon-producing fossil-fuel investments – but only coal. Can coal producers be isolated when coal still generates nearly 40 percent of U.S. electricity and is integral to many other industries? Then, Coca-Cola has quickly abandoned an ad campaign whose tagline was “You’re on Diet Coke,” after people on social media took some shots at it.
TV weathermen are the most common contact most Americans have with meteorology and climate, but the consensus on climate change is significantly lower than among them than climate scientists. What is it about the TV meterologist industry? Plus, Bayer has acquired Merck’s over-the-counter consumer pharmaceutical business, and is focusing on developing new drugs. We look at the difference between these two businesses: OTC and Rx, and the advantages of being on one, rather than the other (or even both). Finally, former PayPal Executive Rakesh Agrawal sent a Twitter message to a friend that criticized a colleague. It went out to 11,000 people. He then sent a series of Tweets threatening to share embarrassing content from the communications of corporate colleagues who didn’t support him. Now, Twitter is trying to bring the situation under control.
Target finally booted its CEO but any new CEO will face more problems than just the aftermath of a giant credit-card breach. What's a new CEO to do when the stylish discount store is losing sales to people who never go in a store? Plus, right when it seems that we need computer security more than ever, Symantec's executive announces in the Wall Street Journal that "antivirus is dead." Stacey Vanek Smith reports on the demise of antivirus as a computer security measure and what is taking its place. Also, new reports from the Center for American Progress and the National Education Association say U.S. teachers are nowhere near as radically diverse as their students. Almost half the students attending public schools are minorities, yet fewer than 1 in 5 of their teachers is nonwhite. What is causing this "diversity gap"? How important is it? And, what can be done to narrow it?
OK, so the top line on the jobs number looks pretty good, but it’s clear that for the most part, wages are stagnant. And wage growth is an important part of the economic growth equation. Sabri Ben-Achour reports on why wages are still flat, and what it will take to get them a-risin’. Plus, Spidey hits the big screen today, and, there is lots riding on the $250 million investment by Sony. We’re gonna get beyond the Hollywood-is-all-about-tentpoles angle and look at the degree to which movies have become companies unto themselves, and what’s at stake if they botch it. In Sony’s case, a hedge-fund predator at the door, for starters. Also, this week Georgia governor Nathan Deal signed a bill into law that allows drug testing of welfare applicants by state employees. The idea is to save the state money by revoking assistance to those who test positive. Georgia isn’t the first state to do this. How has it worked elsewhere?
Google has decided it can no longer just give away its Android operating system. Mission #1 is accomplished: Android phones dominate the smartphone market. But the Android’s money-making ability has escaped from Google. Google now wants to get back the benefit of owning Android by creating a premium operating system, in some ways a proprietary operating system, Android Silver. Also, the International Monetary Fund is giving Ukraine a 17 billion collar loan. How does the government decide how to allocate funds when parts of the country are no longer effectively under its control? Then, on the heels of a strike by truckers working out of ports in Los Angeles and Long Beach, we look at the personal economics of being a trucker. They say they make minimum wage because they’re classified as independent contractors.
China is rejecting a World Bank report predicting it will pass America as the world’s biggest economy. The reason? The Chinese government believes having the #1 title could put it under pressure to make compromises it may not want to make on its currency, climate change and trade. Plus, the Fed, which has been operating with four governors instead of its usual seven, will be down to just three by the end of May if the increasingly cantankerous Senate doesn’t act on new nominations before then. We explain what it means for the Fed to be working without a full bench. Also, when buying a sports team requires a buyer with so much money it doesn’t matter to him, how do you actually figure out a price that reflects what the franchise is worth as a business as opposed to a status symbol?