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.
Dollar General has upped its bid for Family Dollar, but that doesn’t mean Family Dollar will say yes. Observers are now expecting Dollar General to turn this from a friendly bid into a hostile takeover. We explain what going hostile really means. Plus, the former House Majority Leader is joining the banking industry, providing “strategic counsel” to an investment bank’s corporate and institutional clients. But what does he brings to the job? And after, we look at the delightfully snarky website that brought you – indirectly, because you almost certainly don’t visit 4Chan – the nude photos of actresses and celebrity models.
Made in America is a very important consideration for many Americans. There's a perception that things made here are better quality and that buying them will help keep jobs in the country. It is a very powerful label, but if you want to put it on your product, you better mean it. Marketplace's Adriene Hill reports. And, Lizzie O'Leary talks to Earl Swift about his book, “Auto Biography,” about cars and the American dream. Plus, with it being Labor Day we thought it'd be a good time to check in on how much most American workers are getting paid for their labor these days. The answer? Not a whole lot more than they were three decades ago, relatively speaking. That's according to a new study of census data from the Economic Policy Institute.
Personal income and spending seemed to stall in July, according to figures out today. Yet consumers and businesses both say they’re as confident as they’ve been in the economy in years. We dig into the apparent contradiction in terms. Plus, Morgan Stanley has been buying up diesel contracts in Europe. Big time. What does this say about commodity markets and their players. Also, Abercrombie and Fitch has decided to take the labels off its clothes. The move reflects a trend amongst younger shoppers who are increasingly buying from brands that don’t use a logo, such as Zara or H&M. But it also reflects the company’s recent poor performance.
ISIS is believed to get revenue from selling oil on the black market from fields it’s captured. We look at the black market for oil and how it works. Plus, advertising on Twitter is such an impenetrable mystery that Twitter is giving away free classes to teach vendors how to promote their stuff via its platform. The program is called #flightschool. We explain how it works and what it’s gonna teach. Also, two new studies indicate that immigrants to the U.S. weathered the recent housing slump better than native-born Americans and are also rapidly closing the gap on home ownership rates. We look at why immigrants are doing so well and what it means.
Snapchat has been allocated an impressive valuation...which appears to bear little or no relation to the valuation it had when it was last valued several months ago. So what makes it worth what people think it's worth today? Plus, American Airlines announced this week that it would pull its fares from any websites run by Orbitz Worldwide. The reason? The companies couldn’t agree on new contract terms. It’s the second contract dispute between the two travel giants and comes at a time when, according to reports, upgraded websites are becoming more popular with consumers. How will American Airlines withdrawal affect Orbitz? And how does a business relationship like this work? Also, the Commerce Department is imposing tariffs on Mexican sugar, after U.S. growers complained the Mexico was dumping cut-rate sugar here. U.S. sugar is already highly protected and is more expensive than in other countries. How will these tariffs affect industrial-scale users of sugar like candy makers?
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?