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 goal is always the same – so-called ‘full employment. But what would that actually look like? And what sort of jobs would predominate? Also, Nest’s software failure shows that even the most high tech companies still rely on humans when everything fails, and for many wireless product firms, the human back end of their operations is considerable. We report on the manpower costs of providing a non-human product. Plus: When late night hosts change, everyone wants to know who the new guy (or gal – one day) will be. But what about the band? Mark Garrison reports on the way the late night bands are chosen, and what elevation to that esteemed slot can mean.
Overdraft fees used to be a huge source of revenue for banks, then came the crackdown that required consumers to opt in to overdraft protection, and banks took a hit. But fees are climbing back up, and banks pulled in $32 billion in overdraft charges in 2012. We examine what has changed. Plus: ADP said this week that employers added 191,000 jobs in March. The report is a precursor to the federal figure out tomorrow, but critics have been hitting the ADP figure as something of a lagging indicator, ever since the company tweaked its formula back in 2012. We explain what sort of number this is, why people pay attention to it, and why it has some economists so riled up. Also, the owner of a Va. carpet cleaning company has sued Yelp to reveal the true identities of 7 anonymous reviewers who slammed his biz. Will Yelp disclose these names? What would it mean for online reviews going forward, and what's at stake for a service like Yelp? Then, professional track and field athletes are preparing for collective action against the sport’s governing body that could lead some athletes to boycott the U.S. national track and field championships in June. The athletes’ demands are entangling sponsors such as Nike and Brooks Running, which use the affiliations to drive sales of shoes and other running gear.
In the case widely regarded as the sequel to the Citizens United campaign finance case, the Supreme Court has struck down the aggregate limit on what an individual can give in donations in a given an election cycle. Also, New York drops out of InBloom, the Gates Foundation’s $100 million effort at collecting student data, leaving it with no known customers. Since launching, seven states have dropped out. Apparently, parents aren’t as eager as gates assumed to have their kids data-mined at schools. Plus: We remember – briefly – Charles Keating, because he was one of the best-known faces of the S&L crisis of the late 80’s and early 90’s, in which 1,000 banks collapsed.
Housing is lagging: construction spending is down, as are pending home sales. Blame the L's: labor, lumber, land and loans. Oh, and lousy weather.
The U.N. climate group has moved forward, not just warning of climate change -- because it’s here. What are the economic barriers to investing in what they call "adaptation? Plus: Michael Jackson's estate has done a big turnaround. Before his death it was a mess; now it's making millions, and there's even a new Jackson record. And finally: GM boss Mary Barra testifies before Congress later this week about the problems with Chevy Cobalts, linked to deaths. We look at the costs and budgeting behind a recall.
About 10 million students have earned bachelor’s degrees since 2008. In 2012, almost half of recent college graduates were considered underemployed, working in jobs that typically do not require a bachelor’s degree. A look at a generation of college graduates who had the bad luck of beginning careers during the Great Recession and its aftermath. Meanwhile, almost half of the customers in Detroit are behind on their water bills. Now the Detroit Water and Sewerage Department is starting to cut them off. But lots of businesses are in the red, too, as is the school system, and the city itself, which is in bankruptcy. Together, those players owe more than $50 million. And, CBS Outdoor is one of the largest advertising companies with billboards seen practically everywhere. We look at how the company continues to do so well.