Marketplace Morning Report for Wednesday, October 6, 2010

Episode Description 
Marketplace Morning Report for Wednesday, October 6, 2010

Decline in property taxes hurts cities

A report from the National League of Cities says the latest recession did more harm to city budgets than any other downturn in the last 25 years. Christopher Hoene, director of research at the League of Cities, talks with Steve Chiotakis about what's hurting U.S. cities.

Broke cities go to states for help, but...

Pennsylvania's deficit-ridden capital, Harrisburg, is facing bankruptcy. It won't meet its payroll as early as next week. The city's mayor has asked for state aid to avoid defaulting on bondholders, who are already suing for overdue debt payments. But it isn't the only city facing financial foreclosure. John Dimsdale reports.

Rail tunnel between NY, NJ in jeopardy

Budgetary pressures may lead New Jersey Governor Chris Christie to pull the plug on an $8.7 billion commuter rail tunnel under the Hudson River. Christie says cost-overuns may drive the price even higher and he needs that money for roads. It's a harbinger of what's to come for governors around the nation. Andrea Bernstein reports.
Posted In: Transportation

Stepping inside Microsoft's retail stores

Microsoft is about to open its fifth and biggest retail store directly across from the Apple store at the Mall of America in Minnesota. It's Microsoft's boldest attempt to compete with Apple. Alisa Roth reports on Microsoft's year-old move into retail.

Private U.S. firms cut more jobs in Sept.

More private company jobs were cut in September -- 39,000 of them. That's the latest word from employment services firm ADP. Richard DeKaser, president of Woodley Park Research, talks with Bill Radke about how bad this report really is and what it will take for companies to start hiring again.
Posted In: Jobs

Liverpool sold to Boston Red Sox owner

After a night of dramatic negotiations, John Henry, the owner of the Boston Red Sox, now also owns the Liverpool football team in England. How do Liverpool fans feel about that move? Reporter Eve Troeh talks with Bill Radke.
Posted In: Sports

The politics of fiscal responsibility

The latest midterm election polls show Democrats may lose control of Congress. Conservatives have been campaigning on the theme of financial responsibility. It's a popular theme that's easy to talk about, yet so hard to follow through. Diane Lim Rogers, chief economist at the Concord Coalition talks the details with Steve Chiotakis.

IMF: World's financial system a worry

The world's financial system is the "achilles heel" of the global recovery. That's the conclusion of a new report from the International Monetary Fund.

Concern grows over currency problem

The head of the IMF has voiced concern about how governments are tinkering with exchange rates as a way to tackle their weak domestic economies. And at the same time, in Europe, the EU-China summit is focused on the currency issue. Europe correspondent Stephen Beard talks the details with Steve Chiotakis.

Signs that spending may be picking up

New numbers out show consumers are opening up their wallets a little bit more than they did over the summer. Why? Reporter Eve Troeh talks with Bill Radke about the hopeful signs in retail.
Posted In: Retail

Music from this show

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Breath Control
Motor City Drum Ensemble
Think (Instrumental)
Curtis Mayfield
Mystic Voyage
Roy Ayers Ubiquity
Be Easy
Sharon Jones & The Dap-Kings