Week of June 4th, 2007

It's graduation season. This Stanford University graduation address by Steve Jobs is one of the best I've ever read. He delivered it in 2005, but…

The Supreme Court issued a ruling this week that would determine how insurance companies can use credit scores. Tess Vigeland interprets the legal speak with Bob Hunter from the Consumer Federation of America.

Here's a way to help offset some of the fees that go along with index investing: get an enhanced index fund. Tess Vigeland talks to SmartMoney.com reporter Rob Hennessey.

Who says you can't have a farm in the middle of the city? Jules Dervaes of Pasadena, Calif. started one in his own backyard.

Chris Farrell answers listener mail on the impact of a lower-paying job later in life on your Social Security payments, Target Date Mutual Funds and companies retrieving your long-lost assets for a fee.

This week, economics editor Chris Farrell gives us his take on the latest market gyrations in China.

Lenders are worried about people improving their credit scores by borrowing someone else's. Bob Moon looks at the practice of credit piggybacking – and how some companies are putting a stop to it.

Women can benefit greatly from microlending. But in countries where they don't always have power, lending to female business-owners can be tricky. Matthew Algeo reports from Mali.

Looking for a new way to be charitable? How about lending to a business on the other side of the world? New York Times columnist Nicholas Kristof did, and traveled to meet his beneficiaries. He talks to Tess Vigeland.

Ecuadorian convenience store-owner Carmen Rueda Paucar only asked for $500 from a microlending website to help her business. It ended up making a big difference.

The House has passed a bill that would outlaw "unconscionably excessive" prices for gasoline. So, commentator Jeff Steinbrink asks, whose conscience is going to decide what's excessive?

Stockbroker and business analyst David Johnson discusses with host Kai Ryssdal what happened on Wall Street this week and what may lie ahead.

Venture capitalists have been shying away from early-stage drug funding. So some nonprofit foundations are filling the gap in a practice known as venture philanthropy. Janet Babin reports.

The U.S. trade deficit has been at historic levels for years. It goes up every month. But today there was a big reversal. Jill Barshay reports.

The FDA has announced that melamine, the industrial chemical that poisoned pet food, has found its way into shrimp feed made right here in the U.S. Steve Henn reports.

Some lawmakers are trying to undo the Internet gambling ban President Bush signed into law last year. One of them got a hearing on his proposal today on Capitol Hill. But as John Dimsdale reports, the bill faces long odds.

More than 100 million Chinese invest in the stock market, four times the number there were last year. And, as Scott Tong found out, some of them are closer to home than he expected.

Tonight Show viewers next week will see something not seen on TV in years: a live commercial. It's an attempt to keep viewers and advertisers from switching off. Amy Scott reports the answer may lie in the past.

Need to know how your stocks are doing? There's no better way to describe a market than by using examples from the animal kingdom.

Financiers may pocket gargantuan paychecks, but they get no respect. There is a widespread sense that financiers don't create anything of value, at…

The Internet pioneer Marc Andreessen, co-creator of the web browser Mosaic and co-founder of Netscape, has a blog. It is well worth reading….

We're going through a periodic inflation scare. Basically, with central banks tightening (Europe) or standing firm (U.S.), and long-term interest…

The list of benefits doctors now attribute to breastfeeding is almost too good to be true. So why do so many hospitals send new mothers home with free baby formula? New York City and activist groups are out to stop the practice. Alisa Roth reports.

Cell phones that rely on Qualcomm chips to extend battery life were banned from U.S. import yesterday, but don't expect to see shipments piling up at the border. It's more likely to come down to deal-making, reports Janet Babin.

Call it a hedge fund with a conscience? Global Cool is using star power and rock concerts to spread its message on global warming — and making a return for its investors. In fact, it's a very serious investment fund, says Martin Waller.

It seems too good to be true — a device that can power lights, laptops, phones and just about anything else, through the air and without plugging in. But there are some drawbacks — Jill Barshay reports.

U.S. stock markets continued their plunge and investors spooked by inflation worries fled the bond market yesterday, sending prices tumbling. It all has a whole lot to do with central banks upping interest rates, Amy Scott reports.

Fourteen states are protesting legislation in Congress they say will limit their efforts to cut greenhouse gas emissions. Automakers say it will be hard to comply if states start setting their own fuel-economy standards. Jeremy Hobson reports.

Backers of stem-cell research say federal funding's needed, because wary investors won't step up to the plate. Investors worry that promising new therapies won't be profitable for years. Steve Tripoli reports.

Yesterday in London, Virgin launched Europe's first passenger train using a blended fuel that reduces CO2 emissions. And Britain's soon-to-be prime minister Gordon Brown says tax breaks are ahead if the trial run is a success. Stephen Beard has more.

As part of a drive to boost security, the State Department mandated that travelers to Canada, Mexico and the Carribbean have a passport. But the demand has caused months of document delays. Dan Gretch reports.

Marketplace Money for Friday, June 8, 2007

The pressure for genuine health care continues. The good news is that Democratic candidate Barack Obama has come up with a serious approach for…

In the $120-billion Iraq war spending bill President Bush signed two weeks ago, amendments were slipped in that give financial breaks to two airlines. A couple of senators want to know how they got in there. John Dimsdale reports.

Sprint has launched a new service that will let cell-phone users shop with the help of GPS technology. Ashley Milne-Tyte reports.

Widespread mortgage fraud has completely skewed home prices in some neighborhoods and raised questions about the late days of the housing boom. Mhari Saito reports.

Britain's National Health Service is plagued by patient complaints of poor-quality care and long waits for some procedures. The problems have prompted calls for the NHS to lower its sights. Stephen Beard reports.

At the G-8 Summit, President Bush made it clear he wouldn't go for a climate-change agreement. So it was curious today when word came of . . . an agreement. One that calls for big cuts in greenhouse gases. Sam Eaton reports.

Prince Bandar bin Sultan, former Saudi Arabian ambassador to the U.S. and close friend of the Bush family, is facing allegations of taking billions of dollars in kickbacks from a British arms dealer. Steve Henn reports.

Beijing's currency manipulation has prompted calls in Congress for protectionist legislation against China and other Asian nations. But commentator Adam Posen says lawmakers could hurt Americans with a response that's too broad.

Major League Baseball's draft has never been a big deal. But now it's on TV. Will that turn it into something bigger? Our business-of-sports analyst Diana Nyad shares her thoughts with Kai Ryssdal.

For everything else, indeed. Shoppers are using plastic to pay more than ever and that's driving newly-public MasterCard stock way up. So what now? The company will probably invest in ways to make charging even easier, Jill Barshay reports.

The Senate's fragile bipartisan compromise on immigration is being tested by a series of proposed amendments, but the push and shove could come to an end soon. A vote may be forced as early as today, Jeremy Hobson reports.

Israel's Bedouins have been trying to transition from thousands of years of nomadic life to a more settled existence, a big challenge for a community with 60% unemployment. But women have found surprisingly equal footing, Shia Levitt reports.

LeBron James has arrived. He's lived up to his promise in Cleveland and his spotlight may draw some free agents hungry for a championship, but it still won't be easy for the Cavs to build a legacy team around him, says David Carter.

Brokerage firm Morgan Stanley has a sophisticated market model with three key indicators and they're all blinking SELL for the first time since the dot-com bust. But it's not time for panic, Ambrose Evans-Pritchard explains.

You don't want to go to the hospital, the old joke goes, it's full of sick people! And, it turns out, increasingly you're likely to catch an antibiotic-resistant infection there. Scary for patients, but it could mean big bucks for big pharma. Helen Palmer reports.

The cast: British defense giant BAE, American banks, a Saudi Arabian prince. The alleged plotline: Contractor pays prince hundreds of millions to secure $80 billion defense deal. Now word that U.S. banks may be involved. Stephen Beard tells us how.

Sprint launches a new service today that uses global positioning technology to help shoppers find products in stores. And this is just the beginning, Ashley Milne-Tyte reports.

Patients beware: The results of drug studies are heavily influenced by who footed the bill. And the industry probably won't change as long as there are researchers who need funding. Janet Babin reports.

Employers in labor-intensive industries like agriculture are watching as Congress debates immigration reform. Changes in immigration laws could affect the food chain. Megan Larson reports.

Wal-Mart plans to unveil a pre-paid Visa card aimed at the 80 million U.S. residents who don't have bank accounts. Steve Tripoli reports that the nation's largest retailer may have something to teach competitors about servicing the poor.

Even India's largest computer-services provider, Tata Consultancy, is looking for cheaper labor than it can get at home. It's opened a new plant in Mexico. Dan Grech reports.

The donut chain is suing franchisees across the country for not abiding by a federal pilot program on immigration reform that the company joined last year. Steve Henn reports.

Worker productivity grew at just 1 percent in the first quarter, about half of earlier government estimates. Not much of a difference? We called analyst Greg McBride to clear things up.

Commentator David Frum says legalizing millions of would-be immigrants has some poor side effects . . . literally.

Democrats are pressing ahead with spending bills that challenge President Bush to make good on his threat to veto ones that bust his budget. John Dimsdale reports on the likelihood of an ugly confrontation ahead.

A monthly money event in New York City matches dot-com dreamers with venture capitalists. The catch is would-be entrepreneurs have only five minutes to seal the deal. Sally Herships reports.

New York City's comptroller says the Big Apple would net $142 million during the first three years of legalized gay marriage, mainly from the uptick in visitors attending the nuptials. Ashley Milne-Tyte reports.

Robert Reich says he's all for immigration, but he worries the immigration bill now pending in Congress is going to hurt qualified Americans looking for jobs, not to mention higher salaries.

In Alaska, air taxis are more common than ground taxis. Small planes are integral to the transportation system, carrying everything from commuters to pizza to emergency medical care. But an FAA fuel tax hike could ground many of them, reports Weld Royal.

A potential merger of the two top "natural" foods chains triggers anti-trust concerns, but they argue that traditional supermarkets are offering the same organic options. Ashley Milne-Tyte reports.

The oil-producing countries of OPEC seem to be getting anxious over all this talk about developing biofuels. The cartel says if the U.S. and Europe continue to push in that direction, it could drive oil prices "through the roof."

Following several domestic and international scandals surrounding the safety of China's food and drug products, the Chinese government has announced a far-reaching plan for improvement. Scott Tong has details.

After enjoying years of unbridled growth, many homebuilders say they're now sinking along with the subprime lending market. So 1,300 of them are in Washington today to ask for help, and they have some unlikely allies, Steve Henn reports.

Congress holds a hearing today on the safety of diabetes drug Avandia. GlaxoSmithKline is mounting an aggressive defense for its No. 2 seller. With sales already plummeting, there's a lot of cash on the line. Helen Palmer reports

The diabetes drug Avandia has been linked by a study to heart attacks and deaths. Commentator Dr. Stefan Kertesz says, in addition to the drug itself, the system that led to it being so heavily prescribed should be examined.

Ecuador's president says if international organizations and foreign governments pony up hundreds of millions of dollars a year in development aid, the country won't drill for oil in the Amazon Basin. Dan Grech reports.

Fed chief Ben Bernanke said today he's still worried about inflation. Something else the Fed is keeping its eye on is the debt that some private equity firms are amassing in their recent buying binge. Amy Scott reports.

Coca-Cola is promising to return to nature every drop of water it uses in making its drinks. Last year, that was 76 billion gallons worldwide. Sustainability Desk reporter Sam Eaton talks with Kai Ryssdal about Coke's plans.

Congress is looking at ways to improve the screening of the 1 million people who work at the nation's airports — which isn't done already. And airlines and airports don't like the idea. John Dimsdale reports.

Extremists are recruiting in the mosques of cities like Casablanca, where unemployment and illiteracy are widespread. But John Laurenson reports the Moroccan government has a cheap and effective way to win hearts and minds.

In dense urban areas where housing prices are rising dramatically, corner stores are seeing a lot of new faces. Lisa Chow takes a look at New York markets on the leading edge of gentrification.

Retailer Bed, Bath and Beyond saw shares fall 5.4% today on news that first-quarter earnings would be below expectations. Some analysts are pointing the finger at the weak housing market. Jeremy Hobson reports.

More volatility on the Chinese stock market today as the Shanghai Composite fell over 7 percent before ending the day up 2.5 percent. Jamil Andolini of the Financial Times says it's a continuation of the slump spurred by last week's stamp tax increase.

It lacks the glamour of dolphins and whales, but at the bottom of the food chain, the lowly Atlantic menhaden might be the most important fish in the sea. Bruce Franklin suggests we get it an agent or maybe a celebrity spokesperson before it dies out.

CEOs of many big corporations get stock options worth millions. But because of a loophole in reporting the deals, the companies can cash in, too. Now the deals are under the gun — John Dimsdale reports.

It takes just 2.5 liters of water to make and bottle one liter of Coke, but 250 liters to grow the sugar cane in the mix. The bottling giant announces a new push to save water — but is it enough? Ashley Milne-Tyte reports.

Many entrepreneurs told us they didn't know how to handle their own success. What should they do next? Steve Tripoli looks at what went wrong for two startups, and what they could have done differently.

Germany is concerned about the lack of transparency and accountability in the trillion-dollar hedge fund industry, but it's not likely to gain much support even for voluntary regulation at this G8 summit. Kyle James reports.

As President Bush prepares to tout U.S. leadership on reducing greenhouse gas emissions at tomorrow's G8 summit in Germany, there's news the White House is cutting what scientists call an essential tool for studying global warming. Sam Eaton has details.

Some gas station operators are tired of running outside to change the numbers on those towering signs. It's time-consuming, sometimes dangerous, and being slow to match the latest price move can cost 'em big. So they're going digital.

And again and again. Paul McCartney's latest album debuts today, and Starbucks will be playing the first release from its new Hear Music label at all 10,000-plus coffeehouses all day long. Jeremy Hobson has the story.

Ten years ago magazines for younger males, such as Maxim, were phenomenally successful. Now they aren't. And Maxim's up for sale. Mediaweek's Lucia Moses talks with Kai Ryssdal about the magazines' rise and fall.

Work is set to begin on making the Panama Canal big enough for new supersized ships — a project with a supersized price tag. Lorne Matalon reports on who's going to pay it.

A division of Johnson & Johnson in Britain is offering to refund the cost of one of its cancer drugs if it doesn't work. Stephen Beard reports.

Private equity firm Lone Star Funds will pay $400 million for Accredited Home Lenders. Lone Star's not the only buyout gang throwing money at sub-prime's corporate wreckage. Steve Tripoli reports.

When China's President Hu Jintao is a special guest at the G-8 summit this week, he will probably face some tough questions about his country's action plan for global warming that was released today. Scott Tong reports.

Flextronics, the world's second-largest manufacturer of electronic components produced for retailers, is buying the number five company in the market, U.S.-based Solectron, for $3.5 billion. Amy Scott reports.

The FBI says violent crime rates are rising. The increase is occurring as the gap between rich and poor is the widest its been since World War II. Steve Henn looked into whether expanding economic inequality could be causing crime to increase.

Organic grocery chain Whole Foods is making a grand entrance into the U.K. market: It's opening a three-story all-natural supermarket in a space formerly occupied by a department store. Stephen Beard has details.

After seven long years, the S&P 500 has climbed back into record-setting territory. And it's looking better than ever. Allan Sloan explains why today's S&P is leaner, meaner and less risky.