Marketplace Morning Report for Monday, February 24, 2014
The medals are taken away. The athletes are headed home. In a spectacular closing ceremony yesterday, the 2014 Sochi Winter Olympics came to a close. The Russian government is congratulating itself on gaining the international spotlight with a prestigious event that cost more than any previous Winter Olympics: a stunning $51 billion. But residents of Sochi are wondering what will happen to all the hotels and facilities that have been built. Plus, the U.S. Supreme Court will hear oral arguments today in an environmental case with a lot at stake: permits for greenhouse gas emissions, and the power of the Environmental Protection Agency and the Obama administration. At issue specifically is whether a 2007 Supreme Court decision that gave the EPA the right to regulate the greenhouse gases coming out of vehicle tailpipes also gave the agency the power to regulate those emissions more broadly.