Week of July 9th, 2012

Learn about the challenges families face when trying to place a parent into an assisted-living facility.

In the wake of Peregine Financial and MF Global scandals, many farmers are losing faith in commodities brokerages they used to rely on. Regulators and futures industry leaders are hoping to restore confidence with increased oversight and account insurance.

Some women feel the pressure to have both a successful career and home life. But one mom applies her economist smarts to prove that having it all may actually be unsatisfying.

The majority of Americans still drive alone in a car to and from work. But in cities and states across the nation, the commuter population is turning to carpools, public transportation, walking, and bikes.

For many seniors, they reach a point where they can't do it all and they need a little to a lot of help. The cost of the assistance often falls to the children.

Freak weather in Michigan has annihilated orchards of sour cherries, meaning you should expect to see cranberries replacing them in your trail mix soon.

Listeners share good money advice they got from their grandparents.

Finding a new job in this economy is hard for everyone, particularly for those above 55. It takes more effort, sacrifice and a little bit of creativity.

At nearly 100, YouTube phenomenon Clara Cannucciari has been inspiring viewers with her "poor man's meals."

George Soros’ son Jonathan has started a new super PAC, and this one is a little different — an ‘anti-super PAC’ super PAC, if you will. Digg was one of the trailblazing pioneers in the social media world, and yet was sold yesterday for just half a million dollars. Some politicians are outraged that this year’s U.S. Olympic team uniforms are made in China — but maybe it’s the only business decision possible for the team. Commentator Chris Farrell says the idea of the “Golden Years” retirement is a thing of the past, but that may not be a bad thing. And we have the weekly wrap on the latest JPMorgan news.

Not only are many American Baby Boomers supporting both their parents and their kids, but some are even paying for their grand kids as well.

Reviewing the week's headlines on Wall Street. This week: On the latest news from JPMorgan that its losses have now reached $4.4 billion, and the traders lied to their bosses about how much the total was.

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Today we’re going talk oldies-but-goodies, seniors. Yup, mom and dad, that’s you. You and a whole lot of other people. As baby-boomers grow up, the number of seniors in this country is ballooning. On this weekend’s show we’ll talk about the financial hurdles of being grandma and grandpa. Why helping out too much could put retirement at risk. Plus, one family’s journey to assisted living.

Tomorrow is Bastille Day in France, the French will be celebrating despite the rainy weather and eurozone turmoil. This week French carmaker, Peugot, announced major layoffs, signaling the tough economic climate facing the country.

The last remnants of the once popular social media site were sold yesterday — for just $500,000.

Seniors are a prime target for scams, because they are less likely to report a scam. Learn why seniors are afraid to report fraud cases and how to avoid getting hoodwinked.

Rethinking our expectations for the "Golden Years."

More long-term marriages are breaking up and a wine habit may benefit older women's bones.

A frustrated mother sends her teenager daughter a letter, explaining how she and her father are still trying to provide for the family while they are both unemployed.

Financier George Soros’s son starts a super PAC to support candidates who want tougher campaign finance rules. How ironic.

JP Morgan announced the full scale of its disastrous "London Whale"loss to date. This is our primer on what you should know.

There are some recent findings out that Americans have, well, just too much stuff — and that a huge number of garages in America can't even fit cars because they are so filled with junk.

A Reuters report investigating Facebook scanning policies has found out the social network may be going out of its way to partner with law enforcement in nabbing child predators. But what does this mean for user privacy?

JPMorgan Chase CEO Jamie Dimon spoke this morning about the company's solid quarterly earnings, but all the attention is on the massive $4.4 billion trading loss — twice what they first thought — and how the company will sort out the implications.

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Unlike the teams of other countries, the U.S. Olympic team is privately financed, relying on sponsors and contributions. And its clothing sponsor has factories in China.

The biggest event of the year for airline makers like Airbus and Boeing is wrapping up outside of London. And at this year's Farnborough Air Show, the companies have announced orders worth more than $50 billion. Sounds like a good thing for the industry — and the economy.

JP Morgan, already on the hot seat for a big $2 billion trading loss, admits that it lost more than $4.4 billion, and added that its traders lied about the size of the loss to make it look better.

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JPMorgan Chase has just released its quarterly earnings report, and the big number to report is: $4.4 billion. That's the new estimate for the size of JPMorgan's loss from risky trading bets.

In Europe today, the focus has shifted from Spain to Italy, in the ongoing EU debt crisis. Moody's credit rating agency has downgraded Italian debt to just two levels above junk status.

In a poll of a thousand Greeks, 2 percent said the country has a good national economic situation.

After the Justice Department announced a $175 million settlement with Wells Fargo for alleged discrimination against thousands of African American and Hispanic borrowers, the bank looks to cease operations with independent mortgage brokers, whom they blame for the prejudicial lending.

Economic growth numbers from China did not fail to live up to the hype. China's GDP growth slowed in the latest quarter to to 7.6 percent — the slowest in three years.

In Santa Fe, New Mexico this weekend, artists from all around the globe are gathering for the world's largest folk art market. For artisans, the market is a chance to make money, but also receive retail business training and mentorship.

It’s second-quarter earnings day for JP Morgan Chase. Profit number aside, many are focused on how big a trading loss the bank suffered from the so-called ‘whale’ in its London office. Europe’s economic crisis is hammering the euro’s value, but bad news for Europe is great for American travelers. And this weekend, Santa Fe, New Mexico, hosts the world’s largest folk art market. Artisans from Afghanistan to Peru come to sell their crafts — but they can also get business training to take them to the next level.

Time to change your Yahoo password — a group of hackers were able to grab and post online over 450,000 logins and passwords. Plus, the latest hit on Kickstarter is a video game console named Ouya. The funding goal for Ouya was $950,000 in 30 days. Well, a million bucks was raised in eight hours. It’s now over $4 million. What makes certain Kickstarter projects all the rage?

The highlight of JPMorgan Chase’s second quarter earnings report will be an update on the trading loss by the so-called London Whale.

From natural disasters to economic crises to a supposed Mayan prophecy of the end of the world in 2012, doomsday has galvanized some marketers.

Geoff Boucher of the L.A. Times' Hero Complex blog explains why moviegoers see the same superheroes in the theater over and over again.

You should change your Yahoo passwords and you should pay attention to a hugely well-funded game console.

The euro crisis has weakened the currency — and strengthened Europe's appeal to American tourists.

Scorching temperatures and droughts around the country have taken their toll on the corn harvest — and the skyrocketing corn prices could affect nearly every aspect of your life. A new report says that the summer job market for teens is picking up. Meanwhile, companies are cracking down on overtime hours because apparently employees aren’t claiming enough of them. The fanfest known as Comic-Con kicks off in San Diego, but it looks like some of Hollywood’s biggest studios skipping out this year. New York City is rolling out a pilot program that converts payphones into Wi-Fi hot spots. And Kai Ryssdal talks to liberal pundit James Carville about what matters in this year’s presidential election.

Federal lawsuits over wage and hour violations are up since the start of the recession.

Movie studios aren't all screening new films, though. Some find the convention is a place to make deals without having a high profile.

Iranian oil producers may find other ways to sell their product, but with few options to insure their ships, a lot of oil will be sitting in the harbor.

Corn may play a bigger role in the economy than you think. And when prices rise, the effect is wide.

President Obama is calling for renewing the Bush tax cuts, except for those making $250,000 a year and more. Gallup's Frank Newport on what people think about that proposal.

Liberal pundit James Carville explains why class matters in this year's presidential election in his new book, ''It's the Middle Class, Stupid!''

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NBC is reportedly in talks to buy back Microsoft's chunk of MSNBC.com, essentially ending their partnership. Originally the two companies went in together on the telvision news network and the website.

The British government says it will have to deploy an extra 3,500 soldiers to protect the Olympic Games after a private security contractor abruptly said it would fall short.

This morning the Labor Department reported the number of people applying for unemployment benefits fell by 26,000 last week to 350,000, the best number since March of 2008. Analysts point to the auto industry's seasonal production schedule as the source of the weekly dip.

Employers are hiring more teens for summer jobs than in past years, possibly because older workers who were desperate for any work are finding better jobs themselves.

The Presidential race this week can be summed up in a few words: Outsourcing, wealth, taxes, and jobs. How are American voters responding the latest week's news?

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We're getting some new data this morning about the housing market. The foreclosure listing company RealtyTrac says there was an uptick in foreclosure activity last month, but it's down compared with a year ago. Which brings us to the eternal question: Has the housing market finally hit bottom?

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The Boston Globe is reporting this morning that government documents show GOP presidential hopeful Mitt Romney remained CEO and chairman of the private equity firm Bain Capital for three years after he has said he left Bain.

Until this morning the daycare facility at Nike headquarters near Beaverton, Ore., was officially called the Joe Paterno Child Development Center.

Listeners respond to the latest Freakonomics Radio segment on bribing kids for better results in school.

Frank Newport, editor-in-chief at Gallup, explains how much Americans trust television news, and whether are really impacted by political ads they see on TV.

As the first batch of bailout funds arrives at Spain's banks, Prime Minister Mariano Rajoy has announced an austerity plan to slash the public deficit. This includes tax hikes and cuts to unemployment benefits.

There are some new figures out this morning from RealtyTrac about the number of foreclosures in the U.S. in the first half of this year, and they may shed some light on the so-far elusive housing recovery.

The City of San Francisco will stop buying computers from Apple. This in response to Apple pulling out of the Electronic Product Environmental Assessment Tool, or EPEAT. It’s an organization that ranks products on how environmentally friendly they are. Many government agencies and large organizations require computer systems they buy to be EPEAT compliant and may soon follow San Francisco’s lead. So Apple is sure to lose sales, but it looks like it still might be able to make money. Plus, a theme song for the Higgs Boson.

There are new figures out this morning about the number of foreclosures in the U.S. in the first half of this year, and they may shed some light on the so-far elusive housing recovery. For the past few years, China has had a much higher economic growth rates than we’re seeing in the U.S., but when it releases its latest GDP figures tomorrow, forecasters are expecting the worst growth in three years. And another big warship, the USS Iowa, has opened for tourists in San Pedro, California. It’s one of dozens of decommissioned ships that operate as museums around the country.

As the USS Iowa opens in San Pedro, Calif., a look at what it takes to run a successful war ship museum.

The computer giant withdrawal from EPEAT may turn into a profit.

More than two dozen Viacom Inc. channels — including Nickelodeon, MTV and Comedy Central — were blacked out for DirecTV subscribers after the companies failed to reach an agreement on programming fees.

The country formerly known as Burma, long closed to outsiders and subject to sanctions, is a destination for businesses, especially the oil industry.

For the past few years, China has had much higher economic growth rates than we're seeing in the U.S. But when China releases its latest GDP figures tomorrow, forecasters are expecting the worst growth in three years.

Ripples from the LIBOR scandal have spread to U.S. cities. Some are suing to recoup overpayment due to alleged interest rate manipulation.

House Republicans are set to repeal Obama’s Affordable Care Act tomorrow — but why waste the time and money over the inevitable roadblock? New York bureau chief Heidi Moore says Americans shouldn’t turn away too fast from Britain’s ugly LIBOR scandal. Reporter Mitchell Hartman does some fact-checking on the economic plans of the presidential candidates. China bureau chief Rob Schmitz continues his new series on the Street of Eternal Happiness, introducing us to a flower shop owner there. And how much time do we waste watching cat videos on YouTube?

In Spain today, the government announced new austerity measures to meet the terms of the bank bailout early this month: $80 billion worth of tax increases and pay and benefit cuts.

Fewer than a million small-business owners would likely face higher taxes. And some would keep hiring anyway.

Congress votes on repealing Obamacare for the 33rd time. Are symbolic votes worth the cost to taxpayers?

Congressional critics say the recruiting money used to sponsor sporting events like Stewart-Haas Racing could be spent more effectively.

Commentator Robert Reich says top officials need to feel the heat in order to change corporate behavior.

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