Week of July 20th, 2009

The federal minimum wage is now $7.25 per hour as the final step in a three-tiered adjustment set in motion years ago. Jeff Tyler reports on the implications of the wage hike during the worst recession in 50 years.

Our weekly podcast, After the Bell, is now available. This week, Bob Moon examines the healthcare debate raging on Capitol Hill. He also looks at…

Hard times have many people pinching pennies — literally. Host Bob Moon shares his thoughts on a copper overflow.

The LendingTree.com slogan "When banks compete, you win" has given way to "You to the rescue." Host Bob Moon talks with the company's CEO and a wealth manager about whether the change indicates a new approach consumers' are taking with their finances.

Hiring a housekeeper may not seem like a budget item for the under-25 set. But a growing number of less-than-wealthy young people are hiring maids, despite the recession. Sally Herships reports.

Host Bob Moon and Marketplace Economics Editor Chris Farrell tackle listeners' questions, including the best time to buy a house and how much you really save by paying more than the regular monthy mortgage payment

Several states are trying to reduce layoffs with a program called Work Share. When companies cut work hours, the states make up the difference in employees' paychecks by tapping unemployment benefits. Cathy Duchamp reports.

After the dot-com bust, regulators made Wall Street firms start proving why they pushed certain stocks by hiring independent research firms. But the money for that research is running out, meaning there'll be fewer voices to guide investors. Amy Scott reports.

Marketplace's Economics Editor Chris Farrell says we should stop obsessing about our credit scores and worry about another number: our net worth.

Consumers who sign up for credit cards usually sign away their right to sue for unfair charges. Host Bob Moon talks to Minnesota Attorney General Lori Swanson about why she sued arbitration firms, why they backed down, and what the results mean for consumers.

Fed Chair Ben Bernanke said today that about 25 financial companies are "systemically important." Too big to fail, in other words. What? 25? Fi…

As the recession puts more pressure on household incomes, more nurses who had stopped working are re-entering the job market and reducing the nursing shortage. Still, demand for nurses is expected to remain high. Cathy Duchamp reports.

Online retailer Amazon caused a stir when it remotely deleted unauthorized copies of George Orwell's "1984" and "Animal Farm" from Kindle readers. The company said it wouldn't take such action again, but commentator Farhad Manjoo doesn't expect it to keep that promise.

The Associated Press is attempting to catch Web sites that post its stories without permission. It plans to embed tracking code in every article and charge fees to illicit users. Stacey Vanek-Smith reports.

Kai Ryssdal talks with Megan McArdle of The Atlantic's Business Channel and Leigh Gallagher of Fortune Magazine about the week's dominating health-care debate.

High-frequency traders on Wall Street use powerful computers to react quickly to tiny changes in stock prices. But critics say big hedge funds are using this method to bully smaller traders into submission. Amy Scott reports.

The heads of the four big financial regulators offered their input on President Obama's plan to overhaul oversight of the financial system. What lawmakers saw was a good, old-fashioned power struggle. John Dimsdale reports.

President Obama is creating a $4 billion grant program for schools, but only if they accept certain reforms. States may be disqualified from receiving money, unless they agree to use test score data to set teacher pay. Mitchell Hartman reports.

The Alliance for American Manufacturing sent us this chart today, noting that aside from oil imports, the U.S. trade deficit is dominated by…

Fans of Liverpool Football Club are gripping the edges of their seats today, but not because it's two-all in the last seconds of overtime. The cl…

Simple, direct. Class move by Bezos and company. See? Doesn't have to be a massive PR operation. You screw up? Say you're sorry. Done.

Fed Chair Ben Bernanke, SEC Chair Sheila Bair and Treasury Secretary Tim Geithner are testifying before Congress today on how to fix the financial services industry. And they do not agree. Bill Radke talks to Marketplace's Alisa Roth.

Some stocks have been doing better lately and expectations have gone up to reflect the mood. Steve Chiotakis talks to Bill Stone, chief investment strategist at PNC Wealth Management in Philadelphia.

The Nasdaq gained more than 2 percent today in its 12th straight advance. But not all tech companies are ascending. Bill Radke talks to Laura Didio from Information Technology intelligence Corp about the health of the tech sector.

Question: I am rec'ing notices that my credit card rates are jumping to 29%. I owe about 35K. I tried to get a consolidation loan to pay them off…

The White House is expected to announce compeition for more than $4 billion in grants. But the money will only go to states that have taken clear steps toward reforming the education system. Alisa Roth reports.

Though the U.K. economy didn't shrink this quarter as badly as it did the first, it's still doing worse than analysts expected. Lack of credit and consumer confidence are two reasons pinpointed for the malaise. Stephen Beard reports.

President Obama has encouraged the transition from paper to electronic medical records in hospitals, but the transition still has some way to go. Today one hospital in Milwaukee is working its way through a digital transition. Erin Toner reports.

Congress is debating whether to allow government money to flow into firms backed by venture capitalists. Some argue start-ups can't make it without VC money, but that shouldn't cut them off from government funds. Mitchell Hartman reports.

Employers aren't thrilled about the additional costs that will come with paying workers a higher minimum wage of $7.25 an hour. Jeff Tyler also reports the purchasing power of the minimum wage isn't what it used to be.

President Obama has been trying to get Congress and public opinion on his side about health care reform. Is he succeeding? Steve Chiotakis checks in with former Labor Secretary Robert Reich.

The Associated Press wants to make sure it's getting paid for its stories online, so the media outlet is creating a registry to see who's clicking. Alisa Roth explains how the proposed system will work.

The White House wants to give top authority to the Federal Reserve, which would mean other regulators would have to give up high positions. John Dimsdale explores the regulators' contention to relinquishing power.

Comic book writer Joshua Dysart has been nominated for a top prize for his "Unknown Soldier" series. He explains what he enjoys about being a creative freelance writer and living without an alarm clock.

Marketplace Tech Report for July 24, 2009

Marketplace Morning Report for Friday, July 24, 2009

Taking a look at futurism, and how it's done in the past 15 years.

Last year, then Chairman of the SEC, Christopher Cox, banned naked short selling of shares for a period. Discussion of nakedness in the markets s…

With the Dow up 188 points and finishing in the 9000s, Marketplace's Jeremy Hobson did a quick-and-dirty straw poll of economists….

Question: I hate to see this happen to the Obama administration; however, if you combine the debt created by the Bush era and the deficit spending …

Yuliya Demyanyk has published an intriguing piece on the Cleveland Fed website. Ten Myths about Subprime Mortgages, it's called. Demyanyk is a s…

Manuel Quinones of Capital News Connection quizzed some Tennessee representatives about the financial crisis – well, about derivatives, anyway -…

Chris Anderson, editor-in-chief of Wired Magazine, and author of "Free: the Future of a Radical Price," talks to Kai Ryssdal about pros and cons of giving away media online for free. His critics say it's killing print media, but Anderson shares his rebuttal.

Thousands of fans are expected to invade San Diego today at the opening of Comic Con. Self-proclaimed nerd Gustavo Arellano shares the story of one Comic Con nerd who staved off financial ruin with a collection of geek treasures.

Germany's "cash for clunkers" program has saved factory jobs, stimulated auto sales, and removed many gas-guzzling cars from the country's roads. But the program has also hurt business for those who make a living selling used cars, spare parts and scrap metal. Brett Neely reports.

Media buzz usually spotlights 20-something Ivy League grads who start the hottest new tech companies and social networks. But the average tech-company founder is 39 and entrepreneurs over 50 surpass the younger generation two-to-one. Mitchell Hartman reports.

The first batch of swine flu vaccine is ready for testing and the developer is asking for clinical trial volunteers. Scientists hope to make sure the vaccine is ready for use by flu season. Sarah Gardner reports.

Champagne corks started popping early this morning on Wall Street as the Dow crept past 9,000 points. But will it stay there? Jeremy Hobson reports.

Wal-Mart will start selling beefier laptops for prices lower than the popular, and less powerful netbooks. They hope to attract the most frugal back-to-school shoppers. Rico Gagliano has more.

President Obama is pointing to the Cleveland Clinic as a model for how to get quality health care at lower cost. But some say the clinic's method spells bankruptcy for other hospitals. Tamara Keith reports.

President Obama wants to require FDIC-like insurance for risky investments, "far-out transactions." Bill Radke asks professor Hilary Sale at Washington University how this might work.

Steve Chiotakis checks in with Amy Scott about jobless claims and talks to Jane D'Arista with Political Economy Research Institute at the University of Massachusetts Amherst.

Secretary of State Hillary Clinton is wrapping up a week-long trip to Asia, largely spent in the Southeast. Natural resources are just one interest the U.S. has there. Bill Radke talks about the secretary's trip with Marketplace's Scott Tong.

As parts of the economy begin to pick back up, unemployment may be one of the last things to go. Some analysts predict employers will be reluctant to rehire more workers as that will eat into profits. Amy Scott reports.

The "Cash for Clunkers" program provides $4,500 to car owners who want to upgrade to an eco-friendlier car. But certain guidelines apply, including that the car be no older than 1984 and owned at least a year. Rico Gagliano reports.

The Dow pumped up about 9000 this morning, thanks to a bunch of good earnings numbers. Ford, AT&T and EBay all look better than expected. Thr…

A new study out today makes an economic case for rebuilding dwindling fish populations as quickly as possible. It argues overfishing at a too-high rate will cause the fish population to continue to decline. Sarah Gardner reports.

A British advocacy group wants to restore old usury laws to stop the banks from charging what they call excessive interest rates. Stephen Beard explores the group's main arguments and what platform they plan to lobby on.

One advantage of shopping on Amazon.com is the lack of sales tax on purchases. But some states are trying to tack on a tax using local affiliates. Deborah Wang explores where this idea has backfired.

Porsche head Wendelin Wiedeking announced his resignation this morning. The high-earning CEO can credit Volkswagen for his motivation to leave the company. Brett Neely explains what the automaker has to do with Wiedeking's departure.

New unemployment claims have been coming down, but the unemployment rate continues to be high. How is that possible, and how does it affect the big picture? Steve Chiotakis gets some answers from economics correspondent Chris Farrell.

Earnings are likely to move the markets today, and they're swamping the headlines this morning, but there is some more color out there. Reuters …

The technology-heavy stock index has been rising consistently lately thanks in part to strong earnings from Apple and Intel. It's the first in awhile the Nasdaq has been on such a streak. Amy Scott reports.

Covering the uninsured and improving quality while cutting costs have been two of President Obama's objectives in a health care overhaul. To illustrate these goals, he's highlighting one hospital viewed as a success story. Tamara Keith reports.

Marketplace Morning Report for Thursday, July 23, 2009

Marketplace Tech Report for July 23, 2009

Researchers at the MIT plan to electronically track thousands of pieces of trash to give people a greater sense of their impact on the environment.

At a White House press conference, President Obama asserts that a new health care policy is needed to bring the nation's larger economic problems under control. Marketplace's Tamara Keith reviews the president's talking points with Kai Ryssdal.

Question: I'd like to buy Warrren Buffet's Berkshire Hathaway shares. I understand that there 2 kinds brk-a and brk-b. The b-share costs about 1/30…

If you're financially stressed, you could always do what Nick Suelo's doing. He's been living without any money whatsoever for nine years….

Many big corporations are already tracking their yearly greenhouse gas emissions, and more are expected to follow once Congress approves a climate change bill. Those who specialize in emissions accounting are likely to see a spike in business. Sarah Gardner reports.

The Treasury Department wants to use $15 billion in TARP money to boost credit markets and buy up loans from the Small Business Administration. Commentator David Frum warns that once the SBA starts getting TARP funds, it won't stop.

Immigration from Mexico has slowed dramatically according to a new report out today from the Pew Hispanic Center. As Mitchell Hartman reports, the economy on both sides of the border is a major factor in the human ebb and flow.

The Detroit public school system has lost almost half its students and revenue. As the emergency financial manager, Robert Bobb has to make cuts where it hurts the most. He talks with Kai Ryssdal about the situation.

Two of the largest U.S. arbitration companies, which mediate legal conflicts between consumers and credit card companies, will stop accepting debt-collection disputes, thus shifting these cases to court. Jeremy Hobson reports.

Great read, though.

Investment banks Goldman Sachs and JP Morgan each had big profits: $2.7 billion to be exact. But the more cautious Morgan Stanley reported a billion-dollar loss today. Does this mean substantial risk is necessary to gain a profit? Alisa Roth reports.

As banks start paying back TARP funds, taxpayers are getting about 12.4% return on their investment. Now lawmakers are trying to decide whether to spend that money to help the housing market or to pay down the national debt. Steve Henn reports.

The health-care-reform conversation, so far, has been more about monetary policy than medicine. So what's in it for consumers and taxpayers? The New York Times' David Leonhardt talks with Kai Ryssdal about the economics behind reform.

Morgan Stanley says it lost a billion, while Wells Fargo made billions. Confused yet? Bill Radke goes deeper into bank earnings with banking analyst Karen Shaw Petrou at Federal Financial Analytics.

I'm pretty skeptical about the concept of something driving someone to suicide. I happen to know a little bit about the topic, enough to know there…

The guy who runs unemploymentality.com has been on the road recently, traveling from San Francisco to upstate New York. Along the way, he's been…

Fed Chairman Ben Bernanke continues his hearing with the Senate Banking Committee. Marketplace's Amy Scott reviews his testimony with Bill Radke, including his suggestion that the Fed's role should expand to include consumer protection.

Already plagued for falling prices and other woes, the organic food industry is now confronting 800-pound gorilla Dean Food's decision to create a…

President Obama will address health care tonight during prime time. Is he rushing the reform process or is it going too slow? Steve Chiotakis hears more from Bradley Herring, a health economist at Johns Hopkins University.

Morgan Stanley reported a tough second quarter this morning with a loss of more than $1.2 billion. Weren't the banks just doing better? Steve Chiotakis talks to Doug Foreman from Highmark Capital.

This is pretty amusing (or depressing). As I was writing about the space program yesterday, I was thinking, I wonder what the media coverage would…

The White House wants to cork the opium trade in Afghanistan by paying farmers not to grow it. Is this realistic? Bill Radke talks to Jacob Townsend with the United Nations office on Drugs and Crime in Kabul.

President Obama speaks to the nation tonight, and of course, one of the main topics will be health care. I've been reading, watching and listening…

American restaurant chains are trying to lure customers with food discounts, but it doesn't seem to be working. Analysts say the move is hurting their bottom line. Bill Radke talks to professor Kit Yarrow at Golden Gate University.

Analysts expect Morgan Stanley to report that it lost more than $500 million last quarter. The firm is paying for its decision to take a more conservative approach while others made more risky bets on the markets. Alisa Roth reports.

Among this morning's reads: What's in a word? A lot when it comes to the health care debate. Maybe one of your ancestors fought in medieval…

Cadbury ships around 300 million Dairy Milk bars annually. Now, the U.K.'s top-selling chocolate bar will also come with a guarantee that the company is getting its cocoa from farmers protected by Fair Trade. Stephen Beard reports.

The National Small Business Association releases its mid-year survey today, and everything from revenue to number of employees on payroll has gotten worse since December. Mitchell Hartman looks at what's challenging small businesses now.

Two firms that provide arbitration for credit card and cell phone companies are reportedly saying they'll stop taking cases after a lawsuit accused one firm of wrongdoing. Steve Chiotakis gets more details from Marketplace's Amy Scott.

A state-owned Chinese construction company is raising around $7 billion in the world's biggest public offering since last year. With China's market up 75 percent, some view this as a bounce-back from recession. Scott Tong reports.