Week of September 10th, 2007

Three airlines based in the Persian Gulf want to lure more American travelers to Middle East destinations. And they're sparing no expense to do so. Ashley Milne-Tyte reports.

Our border collie Kiara is waiting to help drag the trash bins to the street… She helps by watching. So here's a first thought about carryin…

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

Some retailers now pay for "secret shoppers" to make sure their sales people are performing well. It's made the mystery-customer business an $800 million industry. But commentator Moira Manion, who works in retail sales, says it may not be money well spent.

California has become the 16th state to put limits on teenage drivers' use of electronic devices. But whether such actions by governments will also limit insurance rates is another matter entirely. Lisa Napoli reports.

The contract between the United Auto Workers and Detroit's Big Three carmakers is set to expire tonight at midnight. With Ford and Chrysler voting to extend their contracts, the union has singled out General Motors for special attention. Alisa Roth reports.

The Bank of England stepped in with an offer of emergency credit today to bail out Northern Rock, one of the U.K.'s biggest mortgage companies. Stephen Beard reports it's just the latest sign the global liquidity squeeze might not yet be contained.

Economists are almost unanimous in their agreement that the credit crunch will translate into slower economic growth. The differences are in degree…

The Census Bureau reported this week that more Americans over the age of 65 are putting off retirement. But some choose to take their Social Security benefits early. John Dimsdale explores what might be the better option.

Corporate America often relies on commercial paper to keep it going. But many issuers stopped producing these short-term loans when the subprime debaucle settled in.

It's easy to type "debt consolidation" into a search engine and get help from any of the firms listed. But some credit solutions companies might just create more problems. Ashley Milne-Tyte gives us some red flags.

If you like financial risk and don't mind working with alleged thieves, swindlers and otherwise unsavory characters, you might make a good bail bondsmen. Make sure to lock up the safe . . .

Today marks the 1,000-day countdown to the next World Cup in South Africa. With millions of fans making the event a probable boon for the country, it's been celebrating by spending billions to prepare. Gretchen Wilson has more.

Jera and Brad Deal turned an inventive letter-hunting game with their daughter into a multimillion-dollar business. Sean Cole paid them a visit and did some alphabet searching.

Northern Rock, one of Britain's biggest mortgage lenders, is now its biggest credit-crunch casualties. Fortunately for them, the Bank of England is coming to the rescue. Stephen Beard reports.

While much of the retail economy is feeling the pinch of subprime, luxury spending seems only to be growing. But Steve Henn reports the high-end market could be skewing retail numbers across the board.

The New England Patriots were fined half a million dollars for using hidden cameras to steal their opponents' defensive signals. But business of sports commentator Diana Nyad told Scott Jagow that this sort of cheating has been going on forever.

Google and the X Prize Foundation are offering a $30 million prize for someone who can land a robotic rover on the moon and send back pictures. The reward should just about cover the cost of getting the robot up there. Jeff Tyler has more.

The contract between the United Auto Workers and the big three car makers expires tonight at midnight, and there's a chance the talks will go past deadline. Alisa Roth looks at one of the main issues at stake.

Most of Canada's crude oil is out west, in the oilsands of Alberta. Thirty-thousand people work there. Blair Ghent lives in Newfoundland, on the other side of the country. He makes the long commute alone, but he's not the only one dealing with the hardship. Chris Brookes brings us the story of this Canadian oil worker.

Hurricane Humberto bit into South Texas and Louisiana last night with rain and 80-mile-an-hour winds. The first hurricane to hit us in two years didn't approach anything near Katrina, and petered into a tropical storm by mid-morning. But hurricane season doesn't end until November 30. Commentator Andrew Marcellus says, over time, indifference to those who live in harm's way could become something much worse.

TV game shows promise huge jackpots these days. Contestants can line up to hit it big on more shows than before. But the ones really raking in the dough are the networks. Kai Ryssdal speaks with TV analyst Gregg Segall.

Unicef says the number of children dying each year has dropped below ten million for the first time since it began keeping records. It stands to reason that more widespread public health campaigns contributed to the decline. Helen Palmer reports.

Pimco has launched a $2-billion distressed debt fund. It will invest in mortgage-backed securities and other fancy credit instruments. Amy Scott reports.

Banks are throwing a lifeline of $12 billion in credit to Countrywide. As a result, their stock rose almost ten percent on the announcement. Lisa Napoli reports.

The banking system is shedding jobs at a rapid rate….

Since 1975, the Home Mortgage Disclosure Act has required public disclosure of mortgage lending practices in metropolitan areas. Over the years,…

A lot of economists have been notably optimistic about the subprime crisis, saying it wouldn't lead to a recession anytime soon. But a poll out today from Reuters may indicate a change of heart. Alisa Roth reports.

A federal judge in Vermont rejected automakers' arguments that they couldn't meet new regulations for car emissions. Jeff Tyler has more.

When Luis Ramirez was fired from his job after striking against Venezuela's state-run oil firm, he relocated to south Florida. And many of his colleagues are turning up all around the world. Dan Grech reports.

Bank of England governor Mervyn King criticized the British Parliament for the way it's dealt with the credit crunch, saying it could pave the way for a future crisis. Stephen Beard reports.

Federal Aviation Administration head Marion Blakey is leaving government service to take a job with the Aerospace Industry Association, an industry lobbying group. The move has sparked criticism in Washington. Steve Henn reports.

The subprime loan crisis is making some homeowners shift priorities. One big credit counseling service found that many clients are paying their credit cards before they cover the mortgage. Steve Tripoli reports.

High import tariffs and subsidies for U.S. producers have made it difficult a difficult market for ethanol, but Brazil doesn't want to be kept out. Dan Grech reports.

With the price of wheat at an all-time high, consumer groups in Italy are urging people to go on a pasta strike for one day. Reporter Megan Williams talks to Scott Jagow from Rome about whether or not this is actually possible.

Marketplace for September 13, 2007

The greenback fell to an all-time low against the Euro today, mostly on speculation that the Federal Reserve is going to cut interest rates. But those cuts may have to be steeper than anybody expected. Stephen Beard reports.

Refugees flee Zimbabwe by the thousands every month. No matter where they wind up, Zimbabwean ex-pats try to find ways to help feed their relatives at home — relying on some high-tech help. Jennifer Collins reports.

Zimbabwe suffers from an inflation rate the government pegs at 7,000 percent. But it's maybe two or three times that in actual practice. Reporter Gretchen Wilson helps us understand what that really means.

If you thought O.J. Simpson's new book had been abandoned in the face of public outrage, it had. Now one of the leaders of that protest will be profiting from the book instead. Tim Rutten of the Los Angeles Times explains.

With the holiday season looming on the horizon, China is promising buyers that toys made within its borders will be safe for kids come Christmas. Kai Ryssdal talks with toy expert Chris Byrne about the future of "Made in China."

Oil at $80 can only mean one thing: paying more at the pump. Amy Scott reports there may be a benefit to that.

Wal-Mart is changing its slogan of "Always low prices" that it's had for 19 years. Jill Barshay reports that the change shows how the retail giant is adapting to the growing sophistication of its customers.

Along with the speculation about whether the Fed's going to cut interest rates is a related idea that goes along with that — whether a cut would reward speculators. Commentator David Frum says we shouldn't be too quick to judge.

New Census Bureau data shows that nearly one-in-four people between the ages 65 and 74 were in the labor force. That's an increase from 19.6% in…

Not all world markets are suffering from the subprime crisis. According to the Bank for International Settlements, emerging economies like India and Brazil have largely been spared. Alisa Roth reports.

A federal judge said it was unfair for some New York City restaurants to have to put calories on their menus while others were exempt. So they can all come down. Jill Barshay reports.

Copyright law says songwriters should be paid each time their work is used in a venue. But some bars and restaurants aren't paying, and that could mean heavy fines for the owners. Ashley Milne-Tyte reports.

A Chinese manufacturer of construction equipment is planning to move its operations to a plant in the U.S. in order to stay competitive. Jeff Tyler reports.

Despite OPEC's decision yesterday to put more oil onto the world market, crude-oil prices are trading at near record levels. Stephen Beard reports OPEC's extra half a million barrels a day still isn't enough to make a difference.

With the Writer's Guild contract about to run out and fear of a strike looming, it's not the greatest time for the TV industry. Lisa Napoli tells us why this weekend's Emmy awards may feel a bit . . . sad.

The Fed will meet Tuesday to decide whether to cut interest rates. But commentator Robert Reich says an interest rate cut won't help curb a recession — though a tax cut could.

New figures out today will show states like Arizona and Florida with the highest housing growth two years ago. Jeremy Hobson reports that now, these states suffer some of the highest foreclosure rates.

It's important in business to keep up appearances. But what if your office was all appearances? As in, more like a movie set with extras posing as your staff? Cash Peters reports on the growing trend of virtual offices.

For many Americans, capitalism equals democracy. But in his new book former Labor Secretary Robert Reich questions the appropriateness of that equation. He talked with Kai Ryssdal.

With wild tigers on the brink of extinction, many countries ban the sale of hides and bones. But China is considering lifting its restrictions. It's part of a free-market approach to conservation that's novel — and controversial. Scott Tong reports.

Everybody from the Federal Reserve to the European Central Bank to the newest fund manager on Wall Street is worried about subprimes and the liquidity crisis. But commentator Bruce Stokes says there's an even greater challenge out there.

Six years after 9/11, the Department of Homeland Security is taking steps to plug what Secretary Michael Chertoff describes as a major gap in the country's defenses — private planes. Steve Henn reports.

OPEC agreed today to increase production by a small amount — about another half-million barrels a day. Cartel members said they're worried about the U.S. mortgage mess. Stephen Beard reports.

The nation's largest home lender is reported to be looking for another $2 billion. The prospect that Countrywide might need more money, after Bank of America ponied up $2 billion just last month has already jittery markets on edge. Steve Tripoli reports.

Fed chief Ben Bernanke spoke to the Bundesbank in Berlin today. We were all ready for a statement, but he uttered not a word about the little financial crisis we're having.

United Auto Workers are still in talks with the Big Three about union contracts set to expire Friday. Alisa Roth looks into why it's taking so long.

There's a movement in Bolivia to consolidate the country's two capitals in Sucre, the judicial and constitutional center. Opponents say the idea is just a tool to distract President Evo Morales. Dan Grech reports.

A new government study says New York has more high-tech workers than Silicon Valley, but investors are still pumping money into the West Coast. Jill Barshay reports.

OPEC members are in Vienna today to consider pumping more crude oil onto the world market to bring down prices. But some members say increasing supply isn't necessary. Jeff Tyler reports.

The government uses the money trail to do a lot of its terror tracking. But these days, terrorists are executing plans on a budget. Jeremy Hobson reports.

The Body Shop founder Anita Roddick was committed to good causes long before it was fashionable. The retailer died last night at the age of 64, and Stephen Beard says the ethically-minded are paying tribute.

While Congress wraps up a four-day hearing on a wide gamut of tax issues, commentator Stephen Moore offers a fair alternative: abolishing income and payroll tax for a national sales tax.

The risks linked to anemia drugs lead to rough sales for drugmaker Amgen. Kai Ryssdal sat down with CEO Kevin Sharer and asked him how he handled the hard business of downsizing during tough times.

The biotechnology company Amgen produces two drugs for anemia that have earned the company billions of dollars. But new findings could result in strong warnings being placed on the drugs. Amgen CEO Kevin Sharer talked about his company's situation with Kai Ryssdal.

With Wall Street still caught up in its liquidity crisis, it's probably a good time for those with squeaky clean credit records to keep them that way. Commentator Susan Lee says you'd be surprised how much even the littlest things can hurt.

Imagine a place with no loans, no checks and no credit cards. That was the Syrian economy just a couple of years ago. But now the government is modernizing the financial system, with private banks leading the way. Jennifer Glasse reports.

The private-equity firm Kohlberg Kravis Roberts has agreed to conditions on loans it's taking out to buy the credit card processing firm First Data. Bob Moon explains.

General David Petraeus told Congress today that he believes the United States can reduce its presence in Iraq to pre-surge levels by next summer. Steve Henn reports that American defense contractors see that as a business opportunity.

FDA officials are debating whether changes in food labels might help consumers make healthy choices. Helen Palmer reports there are plenty of ideas but not much consensus.

U.S. and Chinese regulators are expected to adopt new standards to prevent products containing lead paint from entering the United States. But, as Amy Scott reports, with the holiday shopping season approaching, the toy industry is taking matters into its own hands.

After 20 years without any serious discussion on the subject, Mexican President Felipe Calderon is in India this week to talk trade. Dan Grech tells us why.

Disney and Toys "R" Us are among the companies hiring engineers to test toys at random from off the shelves. This will add a layer of security — and most likely a layer of cost. Alisa Roth reports.

A possible interest rate cut is threatening to make the dollar even less attractive abroad. Stephen Beard reports that some analysts forsee an all-time low for the currency against the euro in the next few days.

The flow of immigrants from Iraq has put a lot of pressure on Syria's economy. And starting today, the country implements a new rule that only allows Iraqi businessmen and academics to enter. Jeremy Hobson reports.

The World Bank is offering grants to those who can come up with low-cost alternative light sources for Africa, which spends billions of dollars a year on unsafe non-electrical lighting. Gretchen Wilson has more.

Beijing safety regulators are meeting in Washington today to discuss China's need to ensure safety of its products. As Scott Tong reports, the problem with fulfilling these mandates may come from the country's lack of manpower.

Private equity may be out of business for a while since it can't get access to credit, but Allan Sloan says that won't stop the buyouts on Wall Street.