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 White House hosts a Summit on Working Families today, to draw attention to the fact that the US actually has a pretty poor record on paid family leave. It's an important issue in an election year. But to ensure public attention, the summit comes with its own celebrity guest- Mad Men's Christina Hendricks. She will probably get the attention, but there are some real issues here. Plus, Henry Paulson, the prominent Republican and former Treasury Secretary, says global warming will be a bigger crisis of its kind than the financial crisis, and it's time to adopt a carbon tax. Economist Paul Krugman says sure, but politically that's not going to happen. Do you support "second-best" solutions? We look at the higher cost of second-best solutions.
The federal government's pressure on for-profit colleges that take in billions in federal student aid is close to claiming its first victim. Corinthian, which operates Everett College and Heald College among others, is nearly out of money after the government put a hold on federal grants for its students. The entire industry is sagging. If you're not almost out of money, for $50 million you can own Monet's "Nympheas," one of his most famous water lilies paintings. Or for $14.95 you can own a Nympheas coffee mug. Monet’s lilies are one of the biggest art franchises ever. But just how big? We investigate. Also, Germany's Siemens and Japan's Mitsubishi Heavy Industries sweetened their joint bid for French company Alstom today. GE is also pursuing Alstom's energy-supply business and has a competing offer in for Alstom whose board meets next week to discuss the offers. We explore why the French firm is so sought after.
The World Cup is taking steps to provide more commercial breaks for advertising. How does advertising work in a giant sporting event that features continuous play except for halftime and flops? Plus, American Apparel's board of directors forced out CEO and founder Dov Charney. It's the latest parting with a problematic CEO, from Men's Wearhouse to Groupon. What calculations and strategy are used when it's time to dump your company's founder? Also, JK Rowling’s new book “The Silkworm” is out today. Amazon is in a dispute with Hachette, her publisher, and has removed pre-order buttons for her book and those of other Hachette authors from its site. Walmart and some independent booksellers are taking advantage by promoting the books heavily and offering big discounts. We look at their strategy.
The House elects its new majority leader Thursday, and Kevin McCarthy is expected to win. He’d be the No. 2 person in the caucus, responsible for helping to set the agenda. But the leader has another role that might be even more important: raising money for the party and colleagues, something the recently deposed majority leader, Eric Cantor, was very good at. Plus, millions of recalls are issued every year, but only a fraction of car owners come in for the fix. Why? We look into possible problems on the dealer end, and possible problems on the consumer end. Also, the US Patent office has ruled the Washington Redskins’ name disparages Native Americans and says the team's federal trademarks for the name must be canceled. The team faces a massive potential loss of revenue if others ultimately use the name on tee-shirts and other merchandise. How will the team and the NFL be affected and how are they likely to react?
Consumer Price Index, CPI, is up, but the Fed, which meets tomorrow measures inflation in a different way. Deflation. Inflation. Let’s call the whole thing off. Then, Netflix plans to stream some of its shows, including Breaking Bad and Orange is the New Black, in 4K Ultra HD. But not a lot of people have the ability to watch ultra HD right now. However, this is where the Next Big Thing begins. What's the strategy for taking us as consumers of content, hardware and technology, to the next level? We look at the shape of things to come. Also, a famous baseball player dies of cancer from chewing tobacco. We look at the smokeless tobacco industry, where sales are up
Amid the conflict in Iraq, the international benchmark for oil prices has hit a recent high. We look at what is known as the “comfort zone” as well as how traders factor in a risk premium into their decisions. Plus, Starbucks is upping the ante for low-wage workers by offering partial or full online tuition as ASU. In doing so, the competition to work at Starbucks is going to increase—which may be precisely the point. Also, the Supreme Court today declined to hear Argentina's appeal over its bid to avoid paying $1.33 billion to hedge fund creditors. The claim stems from the country’s historic 2001 default. Argentina is now on the hook to pay up in full and warns this could lead once more to default on its sovereign debt. We examine the implications of the Supreme Court’s decision.