Week of January 19th, 2009

Ever wonder how the wealthiest Americans make all their money? So did writer Ryan D'Agostino, so he went right up to their doors and asked them. He talks with host Tess Vigeland about his new book, "Rich Like Them."

People will try just about anything to save a buck. But as Sally Herships reports, sometimes the best way to save money — and avert disaster — is to call the professionals to begin with.

On this week's "A Day in the Work Life," we log on with Kim Waldauer, host of the web series "Cube News 1."

In "The Marketplace Decoder," we break down those financial buzzwords making headlines. This week, Marketplace's Ashley Milne-Tyte explains exactly what they mean when they talk about a "point" on the stock market.

With the economy in a tailspin, many stay-at-home moms are starting businesses to help support their families. Marketplace's Mitchell Hartman reports on these so-called "mompreneurs."

In President Obama's inaugural address, economics editor Chris Farrell heard a message about setting a firm foundation. Chris sets the story straight on the lessons we can draw from the current downturn.

The White House is considering so many changes it's hard to keep up. Host Tess Vigeland asks Marketplace's Nancy Marshall Genzer how President Obama's plans might affect the personal finances of average Americans.

The government is readying the second $350 billion in bailout money as banking stocks continue to dive. Host Tess Vigeland asks Marketplace's senior business correspondent Bob Moon why the first round of money wasn't able to make the fix.

Question: My company just announced that they are canceling the 401K match for all of 2008. It is now middle of Jan 09. I understand that they are…

President Obama is showing some tech savvy. He plans to post weekly video addresses on YouTube, and is creating a new chief technology officer position in his cabinet. Kai Ryssdal speaks with CNET.com's Declan McCullough about the technology officer.

Greenworks ™ cleaning products have now captured a robust 42% of the consumer cleaning products market despite consternation over Clorox's…

Before the recession, many bar mitzvahs were outlandishly extravagant with families spending lavishly on parties after the religious ceremony. But the economic downturn is bringing these parties back down to earth. Rebecca Sheir reports.

Even with all the bad news about the economy, the main focus of the week was on President Barack Obama. Kai Ryssdal speaks with Fortune Magazine's Leigh Gallagher and The New York Times's David Leonhardt about how the president is addressing the economy and his stimulus package.

To cope with the recession, many companies are considering layoffs or pay cuts. Across-the-board pay cuts are mounting and more are expected to follow. But is it better for companies to cut pay or let employees go? Jeremy Hobson reports.

Dubai investors who bought Barneys New York less than two years ago now want to put it up for sale. Sovereign wealth funds like Dubai's were once huge sources of cash for U.S. companies. But that's starting to change. Sam Eaton reports.

President Obama met today with congressional leaders to discuss the best way to kick-start the economy. House members will try to pass their bill next week, but a large number of Republicans take issue with some of the stimulus proposals. John Dimsdale reports.

General Electric is reporting a 44% drop in quarterly profit. Despite this, the technology conglomerate is still paying dividends to investors. Why? Alisa Roth reports.

President Obama is meeting with House Republicans next week seeking their support for his economic stimulus package. But it may be more important for Obama to get GOP backing in the Senate. Nancy Marshall Genzer reports.

A lot of money goes into making movies, and you have to keep your shareholders happy. Steve Chiotakis talks to Variety's Michael Speier about films that are safe bets for profits and also touches on the 2009 Oscar nominations.

California lawmakers are threatening to downgrade the state's overall credit rating, which would have a lot of ramifications for state taxpayers. Rico Gagliano also explains why even out-of-state taxpayers should care.

Reports out this morning say mega pharmaceutical company Pfizer is in talks to buy competitor Wyeth in a potential $60 billion deal. Pfizer may be considering the move because it's running out of options. Ashley Milne-Tyte reports.

In order for a bank to be able to keep doing business or lending money, it needs to have a minimum amount of capital. Dan Grech explains the Capital Adequacy Requirement with help from his banker dad.

The British economy has been struggling along with the rest of the world, but just announced today it was officially in recession. Scott Jagow talks to Stephen Beard in London, who gives us an overview of the situation.

General Electric closed its fourth quarter on one of the toughest years in its 117-year history. Alisa Roth looks into whether or not the drop is recession-based.

Marketplace for Friday, Jan. 23, 2009

Marketplace Morning Report for Friday, January 23, 2009

The number of companies filing for bankruptcy is expected to rise. Kai Ryssdal speaks with Standard & Poor's Diane Vazza about why so many companies are having trouble staying afloat and what it means for the economy.

Congress is considering a stimulus plan that will set aside $25 billion for energy efficiency projects. That money could go a long way to helping firms that have been quietly pushing energy efficiency for years. Deborah Wong reports.

High on President Obama's agenda is reforming our nation's schools. Kai Ryssdal speaks with author Susan Eaton about the problems with our schools and what can be done to fix them in our economic state.

With so much federal money up for grabs, one might think Washington's lobbying industry would be preparing for a bonanza. But, economic woes even have people on K Street feeling anxious. Steve Henn reports.

The U.K. pound continues to decrease in value as its banking system weakens. But with U.S. banks also suffering, why is the dollar doing better than the pound? Stephen Beard reports.

Company layoffs keep piling up. With so many people out of work, it can have a huge ripple effect. Sadie Babits has the story of one man who is dealing with the effects of unemployment in Portland, Ore.

Fallout from the financial crisis is spreading to the bluest of blue chip companies. Some of the world's biggest companies are reporting huge losses and layoffs. John Dimsdale reports.

Question: My husband and I just bought our first home in South Minneapolis this past fall. Since then, I have heard a lot of talk about the IRS…

There's a lot of discussion in the econ blogsphere and editorial pages about the fiscal stimulus "multiplier" effect on the economy and whether tax…

Demand for new homes is at a low as numbers out this morning wrap up the worst year for builders since at least 1959. Ashley Milne-Tyte reports level of foreclosures will likely stay high all year.

Apple sales hit $10 billion for the first time last quarter, and the brand still grabs consumers worldwide. But the company is predicting a less-stellar performance in the first quarter. Ashley Milne-Tyte reports.

A Chinese court sentenced two men to death and one woman to life in prison for their involvement in tainting milk with a deadly additive. Some believe they were scapegoated for government cover-ups. Scott Tong reports.

Some states have been considering whether to regulate fee-for-service physicians who practice what is sometimes referred to as "concierge" medicine. Tamara Keith explores why the option has garnered controversy.

Megabanks like JP Morgan and Citigroup make headlines for their losses, but smaller and mid-tier banks are suffering as well. But Mitchell Hartman explains how the troubles of these banks may differ.

Numbers out today show that China's economy grew 9 percent last year, down from 13 percent the year before. Beijing has committed some $600 billion in stimulus to help. Scott Tong reports.

While the government bailout of banks has had little success, some have wondered whether the U.S. should just nationalize its banks. Scott Jagow tackles the idea with Economics Correspondent Chris Farrell.

Two House committees take up tax cuts and infrastructure spending in the $825 billion stimulus package. Republicans are raising objections to the existing proposals. John Dimsdale reports.

The U.S. solar industry has enjoyed a lot of growth in recent years, but it's not immune to recession. Many solar companies have confirmed layoffs, factory closings or construction delays. Sarah Gardner reports.

Marketplace for Thursday, Jan. 22, 2009

Marketplace Morning Report for Thursday, January 22, 2009

Aid organizations estimate damage to Gaza from Israel's incursion could be $1.5 billion. Whatever aid comes in, there's disagreement among Palestinian groups over who should distribute it. Daniel Estrin reports.

President Obama's inauguration address focused a lot on the economy and foreign policy. But the U.S. economy may play a huge role in determining what can be done overseas. Kai Ryssdal speaks about foreign policy with Gideon Rose, managing editor of Foreign Affairs magazine.

While commentator David Frum doesn't think much of President Obama's plans to stimulate the economy, he says something needs to be done about workers' stagnating wages. He has a couple ideas how to do it with less government spending.

At 2008's World Economic Forum, Bill Gates challenged corporations to engage in 'creative capitalism,' or be more socially responsible. Kai Ryssdal speaks with journalist Michael Kinsley about what that entails.

Some cities that depend on sales taxes to fill their coffers are offering loans to help keep struggling car dealerships in business. Rico Gagliano reports.

Just about every U.S. airline is reporting losses, and a big reason why is that they locked in expensive fuel prices when those prices were at record highs last summer. Janet Babin reports.

Treasury secretary nominee Timothy Geithner fielded tough questions from a Senate committee about mistakes on his tax returns and his part in crafting some of last year's biggest bailouts. Steve Henn reports.

President Obama spent his first full day in office setting ethics guidelines and imposing a salary freeze on White House staffers earning more than $100,000. Kai Ryssdal speaks with John Dimsdale about the president's new policies and his upcoming agenda.

Question: I've done a bit of searching around and have had no luck finding a comprehensive list of organizations which have taken funds from the …

IBM reported its latest profit numbers last night, and they were good. The company accredits its success to software sales and Internet security services. Ashley Milne-Tyte reports.

Clean energy initiatives are still attracting investors, but oil is no longer in the driver's seat as prices remain low. Sam Eaton reports why policymakers are important for the clean tech industry now.

President Obama wants to tackle Medicare in his first budget, a program he calls "unsustainable." The issue is a tough sell politically, but could be easier if rising health care costs are managed. Sarah Gardner reports.

A leading British lawmaker is suggesting the Royal Bank of Scotland and Lloyd's banking group go into complete public ownership. Stephen Beard reports why bank nationalization might be a risk, but a good one.

U.S. Treasury Secretary nominee Timothy Geithner is appearing before a Senate committee to answer questions about his own tax life. Nancy Marshall Genzer reports how he could have avoided self-employment taxes for so long.

The U.S. Chamber of Commerce will ask for some mercy for businesses today in the form of income-tax relief. This would help businesses get out of their debt and spend again. Mitchell Hartman explains how it works.

President Obama's stimulus package may be too much debt for the comfort of some in Congress. Commentator Robert Reich says he can choose that route, or go for less money and more congressional support.

Marketplace Morning Report for Wednesday, January 21, 2009

Marketplace for Wednesday, Jan. 21, 2009

Inaugural balls used to be fancy affairs, but have been scaled back in recent years. This year, some balls will be toned down even further because of the recession. Nancy Marshall Genzer reports.

Nearly $700 billion in corporate debt will be due in 2009, which is sending firms scrambling to refinance. But with banks struggling and investors afraid of lending, many companies will have a difficult time coming up with the cash they need. Steve Henn reports.

As African Americans celebrate President Obama's inauguration, a disproportionate number of them are struggling to avoid foreclosures on their homes. Commentator Amelia Tyagi says we should examine the practices that led many of them into this situation.

Our listeners weigh in this week on a bevy of topics. From interviews with a marketing executive and management consultant, to stories about vinyls and techies, listeners give us their opinions.

To help the banking sector and restore lending, British Prime Minister Gordon Brown unveiled a second financial rescue package. Stephen Beard reports on one of the bailout's main elements — an insurance scheme.

As Bank of America and Citigroup continue their downward slides in the market, calls for a "bad bank" and rumors of nationalization have been growing. Kai Ryssdal speaks with MIT Professor Simon Johnson about what can be done with the banking system.

The inauguration ceremony was appointment television for a lot of people, even though it was a workday. So, lots of Americans played hooky. Jeremy Hobson spent some time with people who were watching Obama on a big-screen TV in Harlem.

President Barack Obama's inauguration speech touched on hope for the future and the economic troubles we face. Kai Ryssdal looks at what our new president had to say.

Question: In 2005 my son-in-law bought a house in Florida for $220,000. He financed this purchase with a 15-year prime-rate mortgage, which he has…

Washington, D.C. tends to get a boost from increased government spending when faced with tough economic times, and the current unemployment rate is low. But the region is not immune to hardship. Ronni Radbill reports.

Is it any wonder consumers aren't spending? Even if consumers could borrow–would they?…

A disturbing sign of the parlous state of the newspaper industry. The New York Times is a junk bond….

Venture capital fundraising was down significantly in 2008 from the year before, and the trend is expected to continue into the new year. Part of the problem is money tied up in other start-ups. Mitchell Hartman reports.

Everything is ready for the folks who have flooded Washington, D.C. for inauguration, from Jumbo-trons to free and low-cost balls. Celebration events have the common man in mind. Nancy Marshall Genzer reports.

Russia began pumping natural gas again, ending a two-week streak where 20 countries in the continent lost supplies. A contract with Ukraine helped patch up the issue, but not bruised reputations. Stephen Beard reports.

Barack Obama wants bipartisan support for his economic plans. What do the conservatives think? Scott Jagow talks to the American Enterprise Institute's Kevin Hassett about what Obama's priorities should be.

Cell phone providers are wheeling out temporary towers to boost their networks for the Obama inauguration today. Companies expect millions more people to be on the phone or texting. Jeremy Hobson reports.

Chrysler and Italian carmaker Fiat have announced a partnership, but Fiat won't be helping by injecting the Detroit automaker with cash. Steve Chiotakis talks to Ashley Milne-Tyte, who is following the story.

Marketplace Morning Report for Tuesday, January 20, 2009

Marketplace for Tuesday, Jan. 20, 2009

Around the turn of the millennium there was a big push at corporations to increase diversity. How far have we come in bringing diversity to the workplace? Bob Moon speaks with diversity consultant Steve Robbins.

In an effort to boost sagging sales, China is cutting the tax on little cars. The move has Detroit's Big 3 paying close attention because the Chinese buy brands from around the world. Scott Tong reports.

Many people have high hopes that President-elect Obama will be able to fix our nation's biggest problems. Bob Moon speaks with behavioral economist Dan Ariely about how to manage those expectations.

Since the presidential election, Europe has been caught up in Obama mania. Many Europeans hope he will be able to turn around the global financial crisis. But, there are doubters. Stephen Beard reports.

Financing green projects can be expensive, so cities are rethinking the economic model to fund renewable energy. A pilot project in Berkeley, Calif., will use city bonds to pay for the costs of installing solar panels, with money being recouped later through a surcharge on property taxes. Sam Eaton reports.

Lawmakers are still debating President-elect Obama's stimulus package and what will work best to boost our economy. Commentator Len Burman says "experimenting" by assigning different "treatments" to different states will help get the best results from the stimulus and maybe even help in the future.

It seems merchandise featuring President-elect Obama is being sold everywhere with the inauguration approaching. But shirts and buttons that feature the presidential seal are illegal under federal law. Nancy Marshall Genzer reports.

One of the more enjoyable and stimulating blogs is by Nobel Laureate Gary Becker and Judge Richard Posner. The two scholars at the University of…

The Obama's team is keeping quiet on specific details of their plan to help consumers through the second half of the TARP fund. Ashley Milne-Tyte reports what the new administration might do.

Leaders of wealthy Middle East emirates have been pouring billions into green technology. Sarah Gardner reports petroleum powerhouses like Abu Dhabi are taking renewable energy seriously.

A day off for the holiday….

With college tuition continuing climbing and the stock market continuing to fall, more people are liking the idea of locking in future college costs. Sarah Gardner looks into the pros and cons of a pre-paid 529 plan.

Scalpers are making some gains from the Obama inauguration. Tickets that were passed out for free are being sold for anywhere from $200 to 10 times that amount. Danielle Karson reports.