Tess returns to Seattle to have a cup of coffee, see the Space Needle, and find out how the Meridian Pacific investment club has reacted to the recent drop in the stock market.
The first day of school is almost here and, almost like clockwork, as soon as school starts so does the fundraising. Stacey Vanek-Smith reports on an ever-growing business.
You know those proxy statements you get in the mail, if you own a stock or a mutual fund? Regulators are looking at a major overhaul of the system that allows stockholders to vote on company issues. But that has many shareholder advocates worried. Amy Scott reports.
Stockbroker and business analyst David Johnson talks with host Kai Ryssdal about how the markets are adjusting to the credit crunch and what may lie ahead.
Thanks to the subprime mess, China now has its own problems with tainted imports. Its been buying products of the financial variety from American banks and brokers — including big slices of mortgage-backed securities. Bob Moon reports on whether that could be a problem.
Check-cashing outlets pull in pretty good profits by offering short-term loans at what can be triple-digit interest rates. The FDIC wants the nations' 22,000 payday lenders to lower those rates — and competition's the best way to do that. Mhari Saito reports.
Commentator Moira Manion works at a shop where she's on her feet eight hours a day. A few customers have told her she should sit down. She has a radical idea to make that point to her employer.
Today's reports say new-home sales are up 2.8% and U.S. factory orders nearly 6%. But, wait. Those are the numbers from July — before the subprime debacle and the credit squeeze. Jill Barshay has more.
Things seem to be falling apart at the seams for some of this country's biggest clothing retailers. Ann Taylor posted a 27% decline in profits, and the Gap is cutting 2,200 jobs with sales down 5%. But both announced big stock buybacks. Why? Stacey Vanek-Smith found out.
George Hotz, 17, has posted on his blog the instructions for how to fiddle with an iPhone so it can be used with a wireless carrier other than AT&T. Kai Ryssdal figured that was worth a conversation and called him up.
The days of the feudal system and its hierarchy of serfs and vassals collapsed in the 1600s. But one self-proclaimed lord of the manor in England is trying to bring those days back — for a price. Stephen Beard reports.
New home sales numbers for July come out this morning and most analysts expect bad news as problems in the mortgage industry continue to leave builders with fewer and fewer potential home buyers. And the worst is still to come, Steve Henn reports.
More than a million job seekers will be getting a letter from Monster.com soon letting them know hackers have stolen their personal information. The theft comes at a rough time for the job site, Amy Scott reports.
Visa delays, an unpopular war and an immigration crackdown have made America a less appealing destination for international students, and that could be bad for the U.S. economy down the road. Dan Grech explains.
If you haven't been paying attention to something called Second Life, you could be missing out. It's the virtual home to a whole new economy that can generate very real revenue. We asked Edward Castronova how companies can benefit.
Federal regulators are finally doing something about inaccuracies in the $22 billion vitamin and herbal supplement industry. New quality standards start today, but consumers shouldn't expect to see change right away. Jill Barshay explains.
In a roundabout way, the Russian energy giant Gazprom could become major natural gas supplier to the U.S. according to reports in the Russian press. Stephen Beard has details.
The New York Mercantile Exchange is looking for merger partner and it has a lot to offer potential mates. NYMEX stock has been rising by leaps and bounds since it went public late last year. Stacey Vanek-Smith reports.
The Toronto Film Festival gets underway in two weeks, unofficially signaling the transition at the box office from summer blockbusters to Academy Awards hopefuls. Variety's Mike Speier tells us what that's all about.
Earlier this month the Alamo and National rental car brands were sold to the number one company in the industry — Enterprise Rent-A-Car. Enterprise is changing. Kai Ryssdal talked with its man in the driver's seat, Andrew Taylor.
The Bush Administration is preparing new rules to encourage what some say is a safer and more efficient type of above-ground mining — mountaintop, or strip, mining. John Dimsdale reports environmentalists are worried.
The markets seem to have calmed down a bit from the initial mortgage meltdown shock, but has the worst passed? Kai Ryssdal talked with financial strategist Richard Bove to get some guidance.
There's a growing shortage of people trained to make sure we get the right medicines in our prescription bottles. Colleges in Tennessee have stepped up, but Blake Farmer reports that's fueling worries over another shortage.
The FAA is planning to award a contract to overhaul the nation's air traffic control system. The list of bidders includes a company known more for music and talk shows than cockpit communications. Lisa Napoli reports.
The Indian government wants to turn its financial capital of Mumbai into a world-class city. But what will it do with a notorious slum, the largest in Asia, and the people who live there? Miranda Kennedy reports.
Two months ago, in an attempt to stem breakneck inflation, Zimbabwe's government ordered businesses to freeze prices. Since then, it's been crippled by a shortage of basic goods, and inflation shows no sign of slowing, Gretchen Wilson reports.
Just when it looks like the Fed might be ready to lower interest rates in the U.S., the European Central Bank has indicated it may raise rates over inflation worries. And at least one EU member state says the ECB's got it wrong, Stephen Beard reports.
Taiwan and China have a long-standing disagreement, to put it diplomatically, over whether Taiwan is independent. And China's powerful economy has forced the tiny island to be resourceful in gaining recognition from other nations. Dan Grech explains.
When the U.S. subprime mortgage industry sputtered out, it sent world markets into a tailspin. But that's nothing compared to what a crash in China's financial market would do to the global economy, Chris Farrell tells us.
Millions of American homeowners are now trapped in adjustable rate mortgages watching their monthly payments creep ever upward as options for refinancing dwindle away. We ask mortgage consultant Kassie Welch, what now?
A federal judge today decides whether to approve $300 million fines against British Airways and Korean Air for colluding to fix fuel surcharge prices. But that cash won't compensate consumers who were overcharged. Jeremy Hobson reports.
The subprime lending fiasco has left the entire banking system a little tight on cash. And it couldn't have come at a worse time for college freshmen in need of student loans. Stacey Vanek-Smith reports.
It's amazing what a little extra cash can do. Word broke last night that Bank of America bought $2 billion of stock in ailing mortgage giant Countrywide Financial, and suddenly investors are feeling a bit rosier too. Amy Scott reports.
Today the AMA launches a three-year, multi-million-dollar ad campaign. Its goal: Stir up voters to ensure that '08 candidates take the issue of 45 million Americans without health insurance to heart. They want a real solution, Ashley Milne-Tyte reports.
The mortgage industry can't come up with cash. Mortgage companies are laying people off — or worse, going bankrupt. But investors are smiling on one slice of the mortgage market, the good, old-fashioned thrift. Jill Barshay reports.
The government-owned holding company Dubai World is going to take a minority slice of MGM Mirage's hotel and gaming enterprise for $5 billion. Dubai World's been on a buying spree of late. Lisa Napoli reports.
States are trying to force sites like Myspace and Facebook to come up with ways to verify their members are a minimum age. Kai Ryssdal talks with Victoria Barret at Forbes magazine to find out what that might do to their bottom lines.
Robert Mondavi gets a lot of the credit for bringing California to prominence in the global wine industry. But his business didn't always see healthy returns. Julia Flynn Siler has written a biography of Mondavi. She talks with Kai Ryssdal.
Relative calm has settled in the stock markets. But there are still some unsettling noises coming from the housing and mortgage industries. Recently, tens of thousands of people in the lending business have lost their jobs. Bob Moon reports.
It used to be that Spanish-speaking singers would occasionally cross over into America's English-language charts. Now, English-speaking artists are looking to deliver their songs in Spanish. Ambar Espinoza reports.
There's been some talk that all the problems China is having with manufacturing can be traced to its get-rich economic system. But commentator Robert Reich says our brand of free market isn't squeaky clean either.
President Bush's speech today to the VFW is the opening volley in a White House campaign to build support for keeping troops in Iraq. And, as Steve Henn reports, the president will have some well-financed allies backing him up.
The Wall Street Journal reports this morning that online brokers TD Ameritrade and E*Trade are considering a merger. A deal would create the largest online broker, valued at about $20 billion, and it could be good for customers, Ashley Milne-Tyte reports.
Japan's Prime Minister Shinzo Abe is visiting India with 200 Japanese executives in tow. The motivation behind the high-profile visit: Both countries are looking for economic allies as they warily eye China's rise. Steve Henn explains.
In the long run, stock prices have always risen over time. But the timeline of that "always" isn't all that long, which has commentator David Frum wondering, what happens if the baby boomers all start selling at once?
The IOC has warned Beijing that it needs to do something about its pollution problem or risk losing some events during the 2008 Olympics. So the Chinese government forced some 1.3 million cars off the roads in a four-day experiment to clean up the air.
The effects of the subprime crash and ensuing credit crunch have officially rippled over to home builders. Construction of new homes dropped 6.1 percent in July, falling to its lowest level in more than a decade. Amy Scott reports.
The housing bubble has burst and new home construction has slowed dramatically, but a new study shows that Hispanic construction workers have managed to keep finding work. Though maybe not as much. Dan Grech explains.
Wall Street investors are still anxious to hear which direction the Fed might turn next in its attempts to calm the financial markets, but Bernanke's doing everything he can to keep the "real economy" purring. Bob Moon reports.
Caffeinated beer may sound like a college student's dream, but some worry the drinks are being marketed to underage consumers as beverage companies grab for their share of the multi-billion dollar energy drink market. Stacey Vanek-Smith reports.
Economics editor Chris Farrell is getting to your questions fast. In this week's speed-round mailbag, learn how to find a good financial planner, how long a company can pursue a consumer debt and what to do with thousands of dollars in student loans.
Socially responsible investing has been around for quite a while, but now there's a new kind of social investment taking shape — terrorism-free investing. Tess talks to Bob Frick from Kiplinger's Personal Finance Magazine.
With more baby boomers approaching the age where they'll qualify for Medicare coverage, analysts and politicians are wondering how we'll pay for them, and where we'll get the trained doctors to look after them. Helen Palmer reports.
Fed Chairman Ben Bernanke, Senate Banking Committee Chairman Christopher Dodd, and Treasury Secretary Henry Paulson came together today to reassure everyone that they're on top of any changes to the subprime-riddled economy. Bob Moon reports.
The White House says it's going to limit states from expanding the federal program that provides healthcare to kids in middle-income families — even though Congress wants an expansion. John Dimsdale has the details.
Tribune Company shareholders overwhelmingly said yes to a deal to take the company private. The deal gives them $34 a share. The stock closed at $28 today. But their vote doesn't mean it's a done deal. Lisa Napoli reports.
Kai Ryssdal got an invitation from Countrywide in his mail, urging him to apply for a 40-year mortgage. This piqued his interest, since Countrywide's reported to be teetering on the brink of bankruptcy. He got mortgage broker Seth Asher to explain.
Commentator Benjamin Barber stopped at his local Price Chopper store in Massachusetts last week to grab some beer and groceries. At the register he had an encounter that gave him pause — and a few choice thoughts.
Wealthy entrepreneurs are spending millions of dollars to develop spaceships and a space hotel for what they see as the next big thing: commercial space travel. Author Michael Belfiore has a new book about it. He talks with Kai Ryssdal.
For the first time in 18 years, Democratic candidates are out-fundraising their GOP counterparts. That means people with a lot of money are betting the Dems will hold onto power, Steve Henn reports.
Layoffs at Countrywide made headlines yesterday, even as the company took out full-page newspaper ads to say everything's going to be OK. Meanwhile, Capitol One decided to quit the wholesale mortgage business. We asked Ben Steverman for a reality check.
This morning the Tribune Company board is supposed to approve an $8 billion deal to take the company private, but between the recent market volatility and a wilting newspaper industry, its original aim might be way off. Lisa Napoli explains.
Globalization has reached grade school. Thanks to the Internet and a little entrepreneurial spirit, some students are getting help with their studies from tutors on the other side of the world. Francesca Segre reports.
Wal-Mart plans to start selling music downloads without copy protection at a cheaper rate per song than iTunes. But some say the move won't necessarily bump up online sales. Ashley Milne-Tyte reports.
It's going to cost some $250 million to repair the collapsed highway bridge in Minnesota and there are already calls for more federal funds to fix other bridges around the country. So where's Congress going to get all that cash? Jeremy Hobson reports.
Don't buy that new DVD player yet. Just when you thought Sony had won the hi-def home movie war and established Blu-ray as the dominant format, two major movie studios yesterday helped HD-DVD strike back. Jill Barshay has more.
Debate in Congress over government regulations on carbon dioxide emissions is starting to heat up. Sam Eaton reports on the differing views on a carbon tax and "cap and trade."
Three large mortgage lenders — Luminent, Thornburg and Countrywide — reported steps they are taking in their attempts to recover from the liquidity crisis. Stacey Vanek-Smith has the details.
Now that the Federal Reserve has stepped in to calm credit-crunch fears, we figured it was time to assess where the markets and the economy might be headed. Kai Ryssdal talked with Jeffrey Saut, chief investment strategist at Raymond James.
Every summer about this time, after a couple of months of short sleeves and tank tops, you get a good idea of the increasing number of people sporting tattoos. And, as Pat Loeb found out, body art is becoming more acceptable from college campuses to the boardroom.
Medicare is set to publish new rules this week that will pay providers more for treating sicker patients, but less if hospitals make mistakes that make patients sicker. Helen Palmer reports that other insurers will surely follow suit.
Money market funds are supposed to be some of the safest investments. They pay better interest than a typical savings account without much more risk. But Amy Scott reports some money markets have been investing in some dangerous debt.
Ordinarily, if you want to see a fine work of art, you'd have to go to the nearest museum. Commentator Sandra Tsing Loh found an alternative. But now she's caught up in the age-old struggle with buyer's remorse.
The London Stock Exchange rebuffed its takeover advances earlier this year, so NASDAQ announced this morning it's putting its 31 percent stake in LSE up for sale. It's got its eye on another exchange now, Ashley Milne-Tyte reports.
Artisanal cheese makers across the U.S. are slowly but surely crafting a better reputation for American cheese. Think less square singles wrapped in plastic, more finely-aged fromage fit even for the French? Oui, Daniel Weiss reports.
The annual meeting of North American presidents, designed to integrate the economies of the the U.S., Canada and Mexico, has earned the nickname "Three Amigos Summit." But relations are strained among these so-called friends, Dan Grech reports.
Back in July a hedge fund called Sowood Capital collapsed in a week's time, and took $1.6 billion of investors' money down with it. The Boston Globe's Chris Rowland tells us how that's possible.
State lawmakers' landmark effort to cover all Massachusetts residents for health care is proving very successful by most measures. But the AARP says the premiums for seniors simply aren't affordable. Helen Palmer reports.
Switzerland's central bank chairman took off the gloves over the weekend, predicting in press interviews that we haven't seen the end of the crisis in world financial markets, thanks to the U.S. Stephen Beard has more.
Hard rock miners digging for gold, silver, copper or uranium operate under an 1872 law that allows them to extract public resources for free. A bill in Congress now would change that, but the companies have powerful allies, Wren Elhai reports.
A White House task force on import safety is working on recommendations to protect consumers from dangerous products. That's an interesting assignment for an administration that lives and dies by the rule of free trade, John Dimsdale reports.
