12/10/12
Marketplace Morning Report for Monday, December 10, 2012
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Episode Description:
European markets are slumping this morning on news that the prime minister of Italy is resigning. Mario Monti -- whose technocratic government took power a year ago to fix the Italian economy -- says he'll step down as soon as next year's budget gets approved. In North Dakota, oil production is booming. Of course, there's still no pipeline to move the oil -- which is causing a boom for another industry: railroads. And, there is still a glut of foreclosed houses on the market, but it's not ordinary homebuyers who are benefitting.
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PODCAST: Italy in turmoil, U.S. on the cliff
You probably thought we forgot about Italy, what with all this business about Greece and Spain, but Italy is back this morning. Plus we've got a veritable cornucopia of important Democrats talking about the fiscal cliff -- by which I mean two. Republicans, you can return our calls any time. And Santa, if you're listening -- best keep your hatred of the Toronto Maple Leafs to yourself.
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The latest Internet craze: Porting
Watch out coning - you aren't the only kid on the Internet block anymore.
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Key House Democrat talks fiscal cliff
Lawmakers in Washington continue to work towards a deal on the fiscal cliff before the end of the year. Rep. Chris Van Hollen, of Maryland, says House Democrats' opinions shouldn't be ignored.
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Italy's political worries scare investors
The last thing the global economy needed was more political upheaval in Europe. But that's what we're getting. Italian prime minister Mario Monti plans to resign, and there will be elections early in 2013.
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High salaries at Freddie, Fannie draw attention
A government watchdog released a report this morning that scrutinizes the pay of senior staffers at Freddie Mac and Fannie Mae. The report is from the inspector general of the Federal Housing Finance Agency, which oversees Fannie and Freddie.
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Senator Kent Conrad on the fiscal cliff
The chair of the Senate Budget Committee explains why he thinks we'll reach a fiscal cliff deal before the end of 2012.
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Italian PM Mario Monti announces plans to step down
Italy, the third biggest economy in the euro zone, has been plunged into political turmoil as Prime Minister Mario Monti has announced plans to step down.
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Railroads profit from oil boom in North Dakota
Trains haul fracking supplies into the region and haul oil out of it. The oil boom comes at a good time: the railroads' mainstay, coal, is in a slump.
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Hedge funds crowd first-time buyers out of housing market
Hedge funds and private-equity funds are buying up hundreds of foreclosed homes at a time, turning them into rentals, crowding out first-time home buyers looking for bargains.
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Small company SodaStream bets big on Super Bowl ad
Do-it-yourself soft-drink company SodaStream is spending 10 percent of its net earnings on a Super Bowl commercial.
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