Marketplace

Weekdays, 4:00PM - 4:30PM
  • Hosted by Kai Ryssdal

Marketplace, hosted by Kai Ryssdal, is the only national daily business news program originating from the West Coast. Marketplace is noted for its timely, relevant and accessible coverage of business, economics and personal finance. The 30-minute program has a reporting style that is lively and unexpected, focusing on the latest business news both nationally and internationally, the global economy, and wider events linked to the financial markets. Marketplace is a Peabody Award-winning program produced and distributed by American Public Media, in association with the University of Southern California.

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Podcasts

  • Tuesday, September 19, 2017 9:40am
    In the wake of the Equifax hack (and the one before that, and the one before that ... ), how should you think about credit, data security and online privacy? And what could the European Union teach American companies about protecting your data? Then: "Outlander" showrunner Ronald D. Moore answers our Make Me Smart question, and we answer some of your questions about #NoConfederate and our interview with April Reign.   Mentioned on the show: If you want to learn more about the history of credit reporting agencies in the United States, you can read Josh Lauer's book  “Creditworthy: A History of Consumer Surveillance and Financial Identity in America.” And if you want to read more about why the idea of a show called "Confederate" upsets people before they've even seen it, we've got some links for you at our website. 
  • Tuesday, September 19, 2017 9:08am
    The Federal Reserve has been backstopping the American economy for almost a decade with its $4 trillion pile of bonds and mortgage-backed securities it bought up during and after the financial crisis. The idea was to keep borrowing costs low and goose the whole economy. It's widely expected that the Fed's going to start unwinding its balance sheet tomorrow, letting the economy work a little more normally. So what's going to happen? Then: FEMA says fewer than 20 percent of the homes affected by Harvey carried flood insurance, and that makes recovery all the more difficult. Plus: A new study from Yale University says Americans, mostly white Americans, are just plain out of touch with how economically unequal this country is.
  • Tuesday, September 19, 2017 6:40am
    April Reign was a guest on a recent episode of Make Me Smart. In 2015, she created the Twitter hashtag #OscarsSoWhite, which prompted the Academy of Motion Picture Arts and Sciences to examine the diversity of its members. Reign continues to influence conversations about casting in movies and television.  More recently, she co-created the #NoConfederate hashtag to protest an upcoming HBO show "Confederate" by the creators of HBO's mega-hit "Game of Thrones." By upcoming, I mean it could take years for the show to even begin production. In the podcast, April explains why that was important to her, but some of you had your own questions. 1. How can a person protest something that doesn't yet exist based on a press release? 2. How can we do an interview about the #NoConfederate protest when we're also reading "The Man in the High Castle" as our book club selection? If they're both alternate histories, what makes a potential TV show called "Confederate" more objectionable than a TV show about Nazis? Kai and Molly share their answers in this week's podcast, but I also wanted to share a bunch of articles and Twitter threads that I found helpful when this story first broke back in July.  This piece in the New York Times by Roxanne Gay and this article by Ta-Nehesi Coates in The Atlantic are two of the most eloquent takes on the issue.  Here's the Vulture interview with the four executive producers on "Confederate" where they share their feelings about the fierce reaction to HBO's press release. As for the second question, that's something that we have to ask ourselves when we talk about our current Make Me Smart book selection, "The Man in the High Castle" by Philip K. Dick. But for me, no one has done a better job explaining the difference than Jermaine Spradley, executive editor of Bleacher Report.  It's a Twitter thread, so click through and keep scrolling down.  Guys before you start, don't compare The Man in The High Castle to Confederate. It's not even close to the same thing for a bunch of reasons — Jermaine Spradley (@MrSpradley) July 19, 2017 I hope this provides some useful context for what I'm sure will be an ongoing discussion on our show and beyond. Your emails, tweets, Facebook posts and letters are my favorite part of this show, so keep 'em coming. 
  • Tuesday, September 19, 2017 3:29am
    (Markets Edition) Toys 'R' Us has filed for Chapter 11 bankruptcy, which means it's going to try to restructure the business instead of shuttering its operations. We'll look at how the company has struggled with debt since 2005, when private-equity firms took over in a $6.6 billion buyout. Next, we'll talk about a possible upswing in the seasonal job market, and then discuss how Macy's fulfillment centers could be an opportunity for the tens of thousands of retail workers who lost their jobs this year. Finally, we'll report on the major stock indices, which are mixed this morning.
  • Tuesday, September 19, 2017 12:19am
    (U.S. Edition) Toys 'R' Us is filing for Chapter 11 bankruptcy, meaning it's going to try to reorganize in order to pay back its $5 billion in debt. We'll take a look at how the toy giant ended up in this jam. Afterwards, the head of Bridgewater Associates — Ray Dalio — joins us to discuss the unconventional methods his hedge fund uses to evaluate employees and their ideas.  That includes a system where employees rate each other, in real time, during meetings.

33: Equifax and the future of your data

9 hours ago

In the wake of the Equifax hack (and the one before that, and the one before that ... ), how should you think about credit, data security and online privacy? And what could the European Union teach American companies about protecting your data? Then: "Outlander" showrunner Ronald D. Moore answers our Make Me Smart question, and we answer some of your questions about #NoConfederate and our interview with April Reign.  

The Federal Reserve has been backstopping the American economy for almost a decade with its $4 trillion pile of bonds and mortgage-backed securities it bought up during and after the financial crisis. The idea was to keep borrowing costs low and goose the whole economy. It's widely expected that the Fed's going to start unwinding its balance sheet tomorrow, letting the economy work a little more normally. So what's going to happen? Then: FEMA says fewer than 20 percent of the homes affected by Harvey carried flood insurance, and that makes recovery all the more difficult.

Why we still don't grasp racial economic inequality

11 hours ago

There's a new study out from researchers at Yale University, which says that Americans — white Americans mostly — underestimate the economic inequality between white and black Americans. 

Mortgage lenders lower barriers for those with student debt

12 hours ago

Mortgage backers Freddie Mac and Fannie Mae have recently changed lending rules to give more leeway to borrowers like Kristen Griffin, who have high student loans.

Griffin is a librarian at Nemo Vista High School in Center Ridge, Arkansas. She and her husband Mark are window shopping on Zillow while their 2-year-old son Fletcher sleeps nearby.

“It has a huge front porch. I am a front porch sitter,” she said while looking at a house on the site. It’s an older home with extra room for a library.

She quit her six figure job to help other women better understand their cars

13 hours ago

Patrice Banks was a failure analyst with an engineering background making six figures when she tried and failed to find a female mechanic. A self-described "auto airhead," Banks was frustrated with her lack of car knowledge and decided to become a mechanic herself. Earlier this year, she opened her own mechanic shop in Philadelphia, The Girls Auto Clinic Repair Center. She hires other female mechanics and most of her customers are women. 

It’s a holiday tradition: every fall, retailers staff up their stores to prepare for the inevitable crush of shoppers. But this year, Macy’s said it’ll be hiring fewer holiday workers — about 80,000 people in total. And more of those workers will be operating out of warehouses, packing online orders, than last year. Could these fulfillment center jobs be an opportunity for the tens of thousands of retail workers that have been laid off this year? 

Click the above audio player to hear the full story.

09/19/2017: How'll retail fare over the holidays?

15 hours ago

(Markets Edition) Toys 'R' Us has filed for Chapter 11 bankruptcy, which means it's going to try to restructure the business instead of shuttering its operations. We'll look at how the company has struggled with debt since 2005, when private-equity firms took over in a $6.6 billion buyout. Next, we'll talk about a possible upswing in the seasonal job market, and then discuss how Macy's fulfillment centers could be an opportunity for the tens of thousands of retail workers who lost their jobs this year. Finally, we'll report on the major stock indices, which are mixed this morning.

It’s been a volatile year for U.S. retailers. They’ve closed a record number of stores and slashed more jobs than they have since 2009. However, for this year’s holiday season, there’s expected to be a whole lot of hiring going on, as the economy strengthens and consumer confidence returns.

Click the audio player above to hear the full story.

(U.S. Edition) Toys 'R' Us is filing for Chapter 11 bankruptcy, meaning it's going to try to reorganize in order to pay back its $5 billion in debt. We'll take a look at how the toy giant ended up in this jam. Afterwards, the head of Bridgewater Associates — Ray Dalio — joins us to discuss the unconventional methods his hedge fund uses to evaluate employees and their ideas.  That includes a system where employees rate each other, in real time, during meetings.

Toys 'R' Us files for bankruptcy, but keeps stores open

19 hours ago

NEW YORK (AP) — Toys R Us, the big box toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season — and says its stores will remain open for business as usual.

The company based in Wayne, New Jersey, said late Monday that it was voluntarily seeking relief through the U.S. Bankruptcy Court for the Eastern District of Virginia in Richmond — and that its Canadian subsidiary would be seeking similar protection through a Canadian court in Ontario as it seeks to reorganize.

When a city becomes a tech hub, it usually also becomes a bubble: a housing bubble, a pay bubble and an industry bubble, to name a few. The tech world talks about these bubbles like they’re inevitable. But what if they aren't? Marketplace Tech host Molly Wood talks to Seattle-based Glenn Kelman, who is the CEO of the real estate site Redfin, about tech employees’ stock payouts and how reporting them properly could distribute wealth more evenly throughout the country.

Rolling Stone sale reflects magazines’ challenges

Sep 18, 2017

If the Federal Reserve has an institutional opposite, it just might be Rolling Stone. This is the magazine that famously published writers like Hunter S. Thompson and more recently declared Goldman Sachs to be a “great vampire squid wrapped around the face of humanity.” Today there is news that the magazine, started by Jann Wenner 50 years ago with $7,500 of borrowed money, is for sale. Anyone want to buy a magazine? 

09/18/2017: Where hate finds a home online

Sep 18, 2017

Washington is getting all hot and bothered about health care again, but we're gonna keep our eye on the ball and start our show with the Fed, which is meeting this week. There's going to be a tea leaf reading, and some dot plot reading too. Then: We've been reporting a lot lately on hate groups and where they find homes online. Since Charlottesville, there's been more awareness of these groups, and they've been expelled from a lot of services, but that hasn't stopped other businesses from filling in the gap.

(Markets Edition) We've said it before, and we'll say it again: the stock market is not the economy. The S&P 500 closed at an all-time high on Friday, and it's up this morning, along with the Dow and Nasdaq. But economist Julia Coronado, founder of Macropolicy Perspectives, joined us to discuss how these trends don't mean the economy is equally booming. Afterwards, we'll look at the Senate's scheduled vote on a bill that lays out America's spending priorities. One of them: countering threats from North Korea.

Using stories to teach economics

Sep 18, 2017

If you studied economics, was the material you worked with ancient — almost as if it were printed on papyrus?

The teaching methods for economics can be outdated. Well, now an international consortium of experts has come up with a fresh way to teach the subject, and you don't even have to go to college to explore it. CORE, or the Curriculum in Open-access Resources in Economics, is an interactive ebook that illustrates economic concepts with real-life examples.

While the ultimate fate of DACA recipients remains unclear, thousands of young people are now rushing to renew their applications before the deadline in early October. However, the cost is $495, which may be reach for many people working low-wage jobs. One answer: crowdfunding.

Click the audio player above to hear the full story.

 

09/18/2017: Facebook hands over some records

Sep 17, 2017

(U.S. Edition) Boeing is accusing the Canadian company Bombardier of selling its planes too cheaply, and wants the U.S. government to impose tariffs on them. We'll discuss why this is a problem for both Canada and the U.K. Afterwards, we'll talk about Facebook's decision to turn over records of ads purchased by Russian-linked accounts to Special Counsel Robert Mueller. And finally, we'll look at how one ebook-based course is trying to change the way students learn about economics. 

First, a confession. I make no secret of my love of all things space. I read space sci-fi; I eagerly consume movies and TV set in space (no matter the quality, sometimes); I occasionally cry when anthropomorphized little Mars rovers die all alone on the windy red planet. That kind of thing.

When we think space, we often think about observation — watching the skies and figuring out what’s out there. But some people are already thinking about how to put the assets up in space to good use. One way to do that? Asteroid mining. It may sound like science fiction, but established companies such as Caterpillar and startups such as Planetary Resources are putting real money into it. Our two resident space nerds, Molly Wood and Kimberly Adams, talk about this to kick off our series looking at the economics of outer space.

What's the best way to find a job? We ask a manager

Sep 15, 2017

Like it or not, many of us spend a lot of time at our jobs, and work is its own weird universe. Every workplace has its own set of rules, both written and unwritten. For this reason, every month we bring in Alison Green from Ask a Manager. She helps us make sense of the ups and downs of work life.

This time, Green answered questions about job search techniques. Here's a summary of her answers. 

So what's changed when it comes to looking for a job?

In the wake of NASA's most recent mission to Saturn, we're heading out of this world. Spaceships run on several things: fuel, physics and cash. But that last category accounts for a lot of things, like people, equipment, maintenance and time. What’s the breakdown? And what’s the value of the images and info gathered in space? Can we measure it? And, we take a look at why our Social Security numbers are tied to everything and what happens when those nine digits fall into the wrong hands. Plus, when it comes to disasters, should we invest in disaster preparedness or disaster relief?

Odds are you work for a dictator. Even if you love your CEO to pieces, the buck stops there. It ain't no democracy, as they say. Many companies can tell you what to do, say and write — even in your off hours, based on the theory that everything you do reflects back on the company and that personal character counts.

It’s a scorcher of a day in McKeesport, a city outside of Pittsburgh. And nearly 1,000 people are lined up to apply for just 25 jobs. There aren’t a lot of decent paying jobs around here — and these are double the minimum wage — with benefits. They’re in a new industry that leaders hope will revive McKeesport’s economy — medical marijuana. Since U.S. Steel left in the 1980s, “McKeesport has had its struggles — obstacles and challenges have been tremendous and its been a battle over the last few decades,” said Mayor Michael Cherepko.  

(Markets Edition) Bonds seem to have fallen out of favor for now. But the shift isn't being driven by the U.S. Chris Low, chief economist at FTN Financial, explains China's involvement. Afterwards, we'll chat with University of Michigan professor Elizabeth Anderson about the "tyrannical" nature of companies in the U.S., and why she thinks there are flaws with the current employee-employer dynamic.

 

New phones often mean new accessories

Sep 15, 2017

Retailers love it when new smart phones come out. People buy billions of dollars worth of cases, cables, and more.

Click the audio player above to hear the full story.

Global hunger is on the rise

Sep 15, 2017

A UN report says violence and climate change contribute to growing food shortages around the world, affecting millions of people who don’t have enough to eat.

Click the audio player above to hear the full story.

It's tough being a pharmaceutical company when your patent rights run out — the generic competition rushes in, and profits go down on a drug that you may have spent time and money to develop way back when.

But the drug company Allergan has been doing some creative thinking about this when it comes to an eye medicine called Restasis. They're transferring the drug to a Native American tribe in upstate New York.

09/15/2017: Extending a drug patent

Sep 15, 2017

(U.S. Edition) Finance ministers from the European Union will discuss the possibility of levying taxes on companies where they do their business. On today's show, we'll take a look at where global tax reform is headed. Afterwards, we'll discuss how one drug company is trying to extend its drug patents by transferring them to a Native American tribe. 

As machine learning becomes more prevalent, the conversation about robots taking our jobs gets more intense. Marketplace Tech host Molly Wood talks to Roy Bahat, head of Bloomberg Beta, which has been studying technology’s effect on the future of work. He said, robots or not, jobs are changing, and we should shift company culture and benefits along with them.

As machine learning gets better, the conversation about robots taking our jobs gets more intense. Roy Bahat is the head of venture capital firm Bloomberg Beta, which has been looking into how automation will impact the workforce. He said, robots or not, American jobs are changing. The gig economy is rising as traditional, full-time work falls. And he thinks we should be focusing on adapting company culture and benefits to suit that. The following is an edited excerpt of his conversation with Marketplace Tech host Molly Wood.

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