In the latest installment of our series, "What I'm Doing," we talk to Robert Latson, a 69-year-old retiree of General Motors, who's hesitant to touch his retirement money.
As we watch global markets collapse, economics editor Chris Farrell tells us to take a proverbial deep breath and shares with Tess Vigeland his checklist of constructive things we can do in these troubled times.
With worldwide sell-offs and 700-point swings, what can possibly be surprising in the markets anymore? Tess Vigeland seeks answers and a little context from senior business correspondent Bob Moon.
Need to feel a little sunshine in this dark, cloudy economy? We don't blame you, so we thought we'd help find you some. If your house is solar-friendly, solar systems consultant Paul Scott can help you save money.
Many companies are expected to suspend 401k's in the near future, and pension plans are becoming a rarity. But if you do have a pension, is it safe? Tess Vigeland asks Olivia Mitchell of the Wharton School of Business.
Starting your own business, you have to expect to take a few hits at first — and the current economic crisis doesn't make it any easier. Tess Vigeland sits down with three small business owners to talk survival strategy.
In a world of questionable mortgage lenders and credit gone wrong, who can you trust to help you out of a foreclosure? Alisa Roth tells us stories of scammers that troubled homeowners should be careful to avoid.
Ancient artifacts from Afghanistan's pre-Islamic past are the focus of a exhibit touring the U.S., but as Gregory Warner reports, many valuable artworks still in Afghanistan need protection.
Twenty years ago, Congress passed the Women's Business Ownership Act to improve chances for women entrepreneurs. Entrepeneurship reporter Mitchell Hartman reports on accomplishments so far and what lies ahead.
Kai Ryssdal talks to David Leonhardt of the New York Times and Leigh Gallagher of Forbes about Congress' decision to funnel more cash to struggling homeowners and other news from a busy week.
The economic situation in Britain is so bad that one restaurant sells meals for 1 pound to get customers to come back. London Bureau Chief Stephen Beard reports on dire predictions for the British economy.
The International Monetary Fund is in talks with developing nations desperately in need of loans to keep their economies afloat. As Ashley Milne-Tyte reports, the root of their problems is us.
OPEC ministers meeting in Vienna announced a 1.5-million barrel cut in oil production to try to drive up prices on the international market. Washington Bureau Chief John Dimsdale reports.
Recessionary fears have really gone global now. And on Wall Street, some wondered if the Dow would drop low enough to trigger "circuit breakers," which halt trading. Kai Ryssdal turns to Jeremy Hobson for perspective.
Investors are bearish in the throngs of a recession. Bill Radke talks to Diane Swonk, chief economist at Mesirow Financial, who says it will get worse before it gets better, but many problems are panic-driven.
Worries about earnings may have been one big trigger in the market slowdown. But despite fears real and projected, National City's Richard De Kaser tells Renita Jablonski he thinks the recession will be a modest one.
Some immediate causes of this morning's fallen Dow: word of negative economic growth in Britain and profit warnings from big companies. But Dan Grech explains the role of what some call "forced selling."
The days of gas below $3 a gallon are fast returning, but this doesn't necessarily bode well across the board. Sarah Gardner reports falling oil and gas prices undercut the incentive for renewable energy projects.
Perhaps the U.S. federal government needs to spread more money to the states and rebuild infrastructure to help fix the crisis. Bill Radke explores this idea with professor James Galbraith for our "What's the Fix?" series.
Early last year, the Pension Benefit Guarantee Corporation had more than $68 billion invested — but began to chip away at that with risky investments. Steve Henn reports Congress will be looking into it.
With the price of oil and gas plummeting, Russia's once bulging budget could be heading for a deficit. Megan Williams reports half the country's income is from oil, and production is dropping along with price.
Asian leaders gathered with their European counterparts in Beijing to see what could be done to get out of a global tailspin. Scott Tong reports there are two competing world views on the world financial system.
While the world financial crisis rages on, Disney is doing just fine with the release of High School Musical Three in theaters today. The movie is expected to make $35 million this weekend. Stacey Vanek-Smith reports.
What could the government have done to soften the blow of the crisis? Commentator Susan Lee looks into the question in our first installment of our "What's the Fix?" series.
Barack Obama will run half-hour prime time ads on national networks next week. The payoff: Reaching 20 million Americans right before the election. The cost: about $3 million. But, Steve Henn reports, it's not like he's short on cash.
If recent business disasters prove anything, it's that some people never learn. Kai Ryssdal talks with the authors of "Billion Dollar Lessons," a book on how the same mistakes caused 750 companies to fail.
The plan to help homeowners facing foreclosure will cost $40 billion, and the money would come from the original pool of bailout money. But commentator Andrew Caplin resurrects an old idea that doesn't involve all that cash.
The Federal Reserve has bailed out Fannie Mae, Freddie Mac, Bear Stearns, Lehman Brothers. And there's more to come. The total is estimated at $1.4 trillion. Wondering where that money comes from? Rico Gagliano finds out.
Hundreds of billions in losses were expected from Lehman Brothers' credit default mess. But the reality wasn't so disastrous after all — more like $5 billion. New York City Bureau Chief Amy Scott reports.
GM is suspending its contributions to employee 401k's, a rare step that affects thousands of GM workers. Will other companies follow suit as they struggle to cut costs? Jeremy Hobson has the story.
Former Fed Chairman Alan Greenspan told Congress he's "shocked" at the financial meltdown. He did concede his belief in deregulation was flawed, but Nancy Marshall Genzer asks, did Greenspan really not see this coming?
The government's financial bailout team is turning its attention to helping struggling homeowners avoid foreclosure — finally, some would say. Washington Bureau Chief John Dimsdale has details.
FDIC chair Sheila Bair is speaking to the Senate Banking Committee today on a plan to encourage banks to keep troubled homeowners in their homes. But Dan Grech reports why renegotiating mortgage terms is difficult.
The second annual Algae Biomass Summit is going on today in Seattle, and the substance has garnered serious attention from investors for its biofuel potential. Sarah Gardner gives us more algae plus points.
Russia met with OPEC to discuss ways of leveling out the cost of oil, as oil is now so low it could make production and investment unprofitable. Megan Williams reports it's unlikely Russia would agree to cut production.
In the second part of our interview with CEO Ed Liddy, Kai Ryssdal talks with AIG's new head about the challenge of rescuing the company and having U.S. taxpayers as his new boss.
The foreign currency markets are moving at an unprecedented velocity, and in some places the U.S. dollar is at a comparable five-year high. Bill Radke takes a deeper look with currency analyst Omer Esiner.
Michigan's congressional delegation is asking the federal government to help Detroit's car makers and lenders. But do the automakers really need more government intervention? Jeremy Hobson reports.
Asian markets all closed in the red today. Renita Jablonski looks into why with Scott Tong in Shanghai, who blames fears of a global recession and explains why investors can no longer rely on emerging markets.
With less than two weeks to go until the election, it's time for the candidates to ramp up their advertising. But Senator John McCain's a little strapped for cash. Steve Henn looks into where he's focusing his ad dollars.
Machinists at Boeing have been on strike for the past seven weeks, and the company says production of its new 787 Dreamliner may be delayed. But John Dimsdale reports Boeing may still be able to ride out the strike.
The new CEO at AIG, Ed Liddy, not only has to turn the company around, he's got to deal with some really bad press. Kai Ryssdal talks with him about the challenges ahead in our latest installment of Conversations From the Corner Office.
Maple wood baseball bats are favored by about 60% of Major League Baseball players because they perform better. But maple bats can shatter and hurt people, which has drawn the scrutiny of an MLB safety committee. Nancy Farghalli reports.
Taxpayers are bailing out huge Wall Street banks because their collapse would spell doom for the financial system. But commentator Robert Reich thinks it's odd to also allow those companies to consolidate and get even bigger.
The Fed is jockeying to control the interest rate on loans that banks make to each other. Who cares? You should. Those rates affect the ability of consumers and businesses to get loans. Nancy Marshall Genzer reports.
Finally, it's here — T-Mobil has started selling the Google-powered G1 smart phone. So what's all the fuss about? Kai Ryssdal talks with Kevin Pereira of G4 TV to find out what it does.
When the value of the U.S. dollar dropped, Americans traveling out of the country were bummed. But American companies made good money doing business overseas. Well, the tide is turning. Senior Business Correspondent Bob Moon reports.
Millions of dollars flood into the bank accounts of CEO's as a reward for high-risk behavior. Should CEO's still be making millions while taxpayers bail out their struggling companies? Marketplace's Stacey Vanek-Smith reports.
Drugmaker Merck is blaming the rise of generic sales for its 28 percent profit loss this morning. To balance out the blow, the company wants to cut 12 percent of its work force. Jennifer Collins reports.
T-Mobile has released the G-1 phone, a smart phone powered by Google technology. Will its lower price and touchscreen sensibility make it competition for AT&T and iPhone? Mitchell Hartman rings up this report.
Argentina's government announced it will nationalize the country's private pension system, which works somewhat like 401K accounts in the U.S. Dan Grech reports the move is to combat mounting debts.
Times may be hard, but the French still love to eat — with a little thrift-minded moderation. Eleanor Beardsley checks in with Parisian cafe-goers to find out where they're cutting down so they can still go out.
The Baltic Dry Index represents the cost of shipping commodities like coal or soybeans in cape-sized vessels. And the cost has fallen sharply. Stephen Beard explains why this index is often a yard stick for the world economy.
Congress is meeting to explore ways to help workers cope with shrinking 401K's. One method would encourage penalty-free 401K and IRA loans. Nancy Marshall Genzer looks into what else the House is considering.
The heads of the three biggest ratings companies will be at a congressional hearing today to answer the big question: Where were they to help prevent this mess? Washington Bureau Chief John Dimsdale reports.
The euro is now back where it was two years ago at $1.28. Megan Williams reports it's because investors are betting on another interest rate cut from the European Central Bank to help with the weakening economy.
Joe the Plumber doesn't like a tax plan that "spreads the wealth around," which Sen. John McCain calls socialism. But commentator Will Wilkinson says all tax plans, even McCain's, are by nature wealth redistribution.
Everything seems to be going "green" these days, and now real estate brokers are joining the trend. Sustainability reporter Sarah Gardner takes an inside look at the growing group of "EcoBrokers."
Kai Ryssdal catches up with Congressman Henry Waxman to discuss regulation. Waxman chairs the House Committee on Oversight and Government Reform, which has been holding hearings on corporate misbehavior.
From the Marketplace mailbox, Kai Ryssdal pulls out some of the letters sent in by listeners. In the selection: comments on calculating the poverty line, food fraud, the financial crisis and the dropping price of oil.
When Lehman Brothers filed for bankruptcy, sellers of its credit default swaps found themselves on the hook for billions of dollars. New York Bureau Chief Amy Scott reports on the settlement and how much is expected to change hands.
A speculator named William Duer borrowed like crazy in the 1790s to build a fortune. When he went bust, lenders said he was too big to fail. Sound familiar? Author David Liss recounts the story that led to the founding of the NYSE.
Industrial giant Caterpillar is one of a number of companies with lower-than-expected third-quarter earnings. Higher raw-material costs and the global economic slowdown are blamed. Ashley Milne-Tyte reports on earnings reports to come.
Is the Fed encouraging a shakeout in the regional bank sector? Word is the government might allow mid-sized banks to buy weaker rivals with bailout money, instead of issuing loans. Jeremy Hobson checks it out.
Jittery investors pulled half a trillion dollars out of money-market funds in the past few months, tightening up another source of credit. So, it's Fed to the rescue again. Senior Business Correspondent Bob Moon reports.
Half of the $250 billion rescue package has already been invested into banks, and there are reports the other half will be used to help banks buy their weaker rivals. Dan Grech looks into the move.
Twenty-eight-year-old Cinthya Guillen is going to college to be a high school teacher, but the crisis has made it a struggle for her to afford books. We talk to her as part of our Interested Parties series.
France announced it's making billions of euros available to its major banks. The government wants the money to go towards credit for businesses and consumers. But Megan Williams reports the cash comes with conditions.
The House is holding a hearing today on new banking regulations, like rules for how much of a cash cushion institutions need to protect against losses. Nancy Marshall Genzer reports where there are disparaging ideas.
