03/19/12
Marketplace Morning Report for Monday, March 19, 2012
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Episode Description:
We're on the phone with Marketplace Shanghai Bureau Chief Rob Schmitz to talk about the fallout following his investigative report that led to this weekend's retraction on the radio program This American Life. Schmitz explains that while Mike Daisey lied about his first-hand account visiting factories in China for his stage play and radio story, many of the things he lied about have actually happened. Meanwhile, a debate in the Senate this week over extending the life of Export-Import Bank has aircraft maker Boeing in a tustle.
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Congress fights over Export-Import Bank funding
Some senators want to beef up funding to help exporters promote their wares overseas, but airlines say that only helps foreign competitors buy aircraft more cheaply than domestic airlines.
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Showdown over the future of Yahoo!
A hedge fund investor with a 6 percent stake in Yahoo! is demanding to take over a block of seats on the Internet giant's board of directors.
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Daisey lied, but factory working conditions in China still lag
Mike Daisey made up the details of his first-hand account of dismal working conditions at Apple factories in China for his stage play and the radio program This American Life. But for workers in China, the issues are real.
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Greek PM: We're on our way to economic recovery
Lucas Papademos says the majority of Greeks are knuckling down to the agreed budget cuts and economic reforms as the country's second financial bailout sets in.
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With unemployment at 14 percent, the Irish look for work abroad
More than a year after Ireland received a bailout, unemployment in the country has risen to more than 14 percent, and nearly 1,500 people leave the Emerald Isle every week to look for work.
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UPS buys Dutch shipping rival for $6.8 billion
The U.S. shipping giant said Monday it will acquire Europe's No. 2 delivery company, TNT Express, in effort to expand its global reach.
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Apple to buy back $10 billion stock, pay dividend
Apple CEO Tim Cook said in a conference call today it would start spending down its nearly $100-billion pile of cash with a $10 billion share buyback and a quarterly stock dividend of $2.65 a share.
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How to spend a $100 billion: Ask Apple
Apple earns only about 1% interest by hoarding its pile of cash reserves. Today, it announced how it would start earning investor love with a stock buyback and dividends.
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Podcast: Apple's $100 billion plan, and UPS goes shopping
Apple CEO Tim Cook said in a conference call today that the company would start spending down its nearly $100-billion pile of cash with a $10 billion share buyback and a quarterly stock dividend of $2.65 a share. We talk to Henry Blodget, CEO of Business Insider, for more on this story. Shipping giant United Parcels Service said it would pay $6.8 billion for Dutch shipping rival TNT Express in effort to expand its global reach. Plus, Ireland struggles with 14 percent unemployment, Greece's prime minister said the company is on its way to a recovery, and Yahoo! fends off an aggressive investor.
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Egypt asks IMF for $3 billion loan
After turning down a similar package in June, Egypt goes back to the International Monetary Fund for help as its economy weaken and interest rates increase.
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Wall Street firms may rent out Fannie foreclosures
Some of Wall Street's biggest firms want to bid on pools of foreclosed properties being sold by Fannie Mae to rent them out. What does that mean for investors and how might it affect homeowners?
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