Week of September 10th, 2012

As we approach the one-year anniversary of the Occupy movement, a question: What sort of mark did Occupy make on pop culture?

There's a price to be paid for aging gracefully

Stocks rise after the Federal Reserve’s aggressive intervention, but how broadly will Americans benefit? The richest 10 percent own most of the stock.

Reviewing the week's headlines on Wall Street and beyond. This week: The third round of stimulus from the Federal Reserve.

Six and seven-year car loans are increasingly popular, though they come at a higher price over the long term.

In a digital twist on the age-old practice of paying people to do odd jobs for you, new smartphone apps like TaskRabbit and Postmates allow you to hire your own personal assistants — to say, clean your home, buy your groceries or run errands.

We’ve seen QE3’s immediate impact on the market — boosting stocks and lowering returns on savings accounts. But what about the rest of us? We look at the ups — and downs — of the latest installment of quantitative easing. It’s been one year since Wall Street was occupied. Dan Bobkoff explores the on-again/off-again relationship between Occupy and pop culture. Plus, you buy your dogs food, toys, occasionally clothes… but what happens to Fido if you die?

To keep pets out of shelters after owners die, the ASPCA is urging people to plan ahead. Identify a new guardian. Collect medical records. And yes, if you can afford it, put Splash in your will.

People who save may bear a disproportionate share of the burden in our insatiable appetite for low interest rates.

Race draws $1.4 million in outside spending

The East Coast discount retailer Daffy's is going out of business, giving us a look at the ecosystem that sprouts up when a company has to sell everything from shoes to shelves.

This week, Fannie and Freddie quietly put out some "clarifying language" that could mean a lot to some beleaguered homeowners in California and in other states.

The Fed will spend $40 billion a month buying mortgage securities. Yesterday, that news was a big help to markets here in America. Today, it seems to be giving a helping hand to Europe as well.

Yesterday, Ben Bernanke announced the Federal Reserve is going to do another round of what’s called “quantitative easing.” The Fed will buy $40 billion worth of mortgage-backed securities every month until Bernanke and his colleagues are satisfied the job market — and the economy — have improved.

Your Amazon purchase could soon cost you more. On Saturday, the online retailer will start charging sales tax to folks in California. Meaning that here in Los Angeles, a $500 TV is going to cost an extra $44. And, it’s not the only state where tax-free shopping is ending.

Yesterday Federal Reserve Chief Ben Bernanke laid out the Fed’s new economic stimulus plan. It’s round 3 of so-called quantitative easing, and the Fed will buy $40 billion worth of mortgage-backed securities every month. A year ago Monday, a group of protestors gathered in lower Manhattan, kicking off what would become the global phenomenon of Occupy Wall Street. Occupy raised a surprising pile of money — but how was it spent? And it used to be, if you ordered something off the Internet, you didn’t have to pay state sales tax. But now Amazon is now charging sales tax in a growing number of states; California goes on that list this weekend.  

Disney World finally turns on the tap, and Halliburton puts out "Lost" signs for a radioactive probe its lost in west Texas.

With Amazon beginning to charge sales tax in some states, analysts think it may convince some consumers to buy big-ticket items in traditional brick-and-mortar stores.

Some farms say they don't have enough workers to get their crops in. For mushroom growers, it's always harvest time, and one farm has found an unusual source of labor.

One year ago Monday, a group of people gathered in a then-obscure park in lower Manhattan, kicking off what would become the global phenomenon of Occupy Wall Street. So what's happened to all the money?

Sales taxes may be coming soon to your Amazon purchases. But you probably should have been paying them anyway.

A year ago, Occupy Wall Street began in New York’s Zuccotti Park and spread to cities all across the U.S. You couldn’t miss hearing about the 99 percent versus the 1 percent on Twitter, Facebook, TV, and the radio. But on the movement’s one-year anniversary we ask the question: Did protesters succeed? In fact, banks are still giving money to people who can’t afford to pay it back. We’re not talking home mortgages here; this time it’s car loans. Plus, we talk with two newlyweds and their Rabbi about personal finance. It’s the latest in our series on religion and money.

Inside Cincinnati's Oyler Community Learning Center over the course of one school year.

Topshop, the London retailer, is offering something new at this year's spring 2013 fashion show. Consumers can buy items the models are wearing on the Topshop web site during the live-streamed show.

The Federal Reserve announced its third round of quantitative easing Thursday to help stimulate the economy. You've heard the explainers. You've seen the videos. Now, let's review all the analogies.

Gallup editor-in-chief Frank Newport on how your interpretation of economic news varies depending on your political orientation.

Cries of politics haunt past election-year decisions on monetary policy.

Chairman Ben Bernanke revealed that Federal Reserve is proceeding with a third round of quantitative easing. How will this help the economy?

The Federal Reserve has announced that it will pump $40 billion a month into mortgage bonds for “as long as it takes” to make buying viable again. It also plans to keep short-term interest rates near zero until at least 2015. Frank Newport breaks down the latest Pew numbers. Plus Marketplace’s Amy Scott checks in with Oyler School, part of the burgeoning “community schools” movement, and China correspondent Rob Schmitz brings us more stories from China’s famous (and infamous) Street of Eternal Happiness.

Anti-aging creams are a growing share of the cosmetics market, but the FDA warns that if companies claim pharmaceutical benefits from their products, the FDA will review them as drugs.

New ad takes Romney quote out of context

Today, Google unveils the neighborhoods in Kansas City, Mo., that will get a fiber-optic Internet hook-up the rest of us can only dream of.

The Federal Reserve wraps up its two day policy meeting today. It's expected to announce whether it will pump more stimulus money into the U.S. economy. Meanwhile, we just got inflation numbers for August. Wholesale prices increased 1.7 percent last month — the biggest jump in three years.

One of the big election issues this year is government regulation of business. A lot of new rules have been added since the financial crisis four years ago. How do your fellow Americans feel about it?

Later today, the Federal Reserve wraps up a two day policy-setting meeting. The big question is whether they'll launch another round of "quantitative Easing" — buying up bonds to inject some money and a bit more pep into the U.S. economy.

In this week's Attitude Check, we check in with Gallup's editor-in-chief, Frank Newport, about how Americans are viewing Republicans and Democrats on a couple of subjects.

The parent company of Airbus, EADS, is in merger talks with the continent's biggest defense contractor, BAE systems. That could put U.S. leaders Boeing and Lockheed Martin playing a little defense themselves.

After months of speculation and rumors and waiting, Apple unveiled the Phone 5. (You probably heard.) So did the announcement live up to expectations? What should consumers be aware of as far as their own contracts and their own situation goes before they make this jump? And what is the iPhone-less T-Mobile doing to entice customers? (Hint: BYOP)

The Federal Reserve wraps up its two day policy meeting today. It's expected to announce whether it will pump more stimulus money into the U.S. economy.

The Federal Reserve wraps up its two day policy meeting today. It’s expected to announce whether it will pump more stimulus money into the U.S. economy. That would make a third round of so-called “quantitative easing.” Directors at Ford Motor Company are meeting today. There’s word the agenda could include the first step toward a change in management at the company. And in case you missed the big launch, Apple’s iPhone 5 was unveiled last night. Fifty million iPhone 5s could get snapped up by the end of the year. And each one is a potential cash cow for the wireless carrier the iPhone customer chooses.

As CEO Alan Mulally nears retirement, his stellar performance in saving and reinvigorating Ford makes even employees wonder: who can replace him?

AT&T, Verizon and Sprint offer huge subsidies on new smartphones that hit bottom line.

Early adopters will likely pay a premium for the right to own the latest Apple product.

Every Friday night, a motorcycle gang of Chinese executives and self-made millionaires meets at the Coffee Bean and Tea Leaf on The Street of Eternal Happiness. Here's their story.

Cheap credit is boosting car sales. But more buyers are taking loans of up to seven years. Monthly payments are lower; the total cost is higher.

Apple unveiled the iPhone 5 today; that could mean consumers will see an increase in the price of data plans. More people are taking out longer-term car loans, but this may be a case of one size does not fit all. The killing of Americans in Libya over a YouTube video raises questions about the video site, freedom of speech and corporate ethics. A census study reports that the poverty level in America has stayed the same. Commentator Robert Reich says with the election drawing closer, he’s not sure either candidate for president can revive the job market as people hope. And when the long-term unemployed finally get jobs, are they socially and technologically behind their new colleagues?

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A German high court rejected a petition to block Germany's participation in the eurozone rescue fund. What does that mean for Europe going forward?

After the usual hype and secrecy, Apple unveils a phone — and another way to lure consumers into its eco-sphere.

This week, India's Supreme Court hears arguments in a case that will affect how many poor people can afford cancer drugs. Novartis is defending a patent on its cancer medication, Gleevec.

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Commentator Robert Reich says neither Democrats nor Republicans have a workable idea.

The recent attacks on and killings of Americans in Libya over a YouTube video raises questions about the video site, freedom of speech and corporate ethics.

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The U.S. Census Bureau released the latest figures on the nation's poverty rates. Nothing much has changed, and that's not a good thing for the economy.

The noted African American media commentator and university professor take their road show to key election battleground states in hopes of pushing poverty onto the front burner of the presidential election agenda.

Car makers have produced special edition models before. Now Chrysler and fashion designer John Varvato team up to add some extra attitude to a model that already has street cred.

Senate races in Nevada, Ohio and Florida continue to draw big money

The U.S. ambassador to Libya and three other diplomats have been killed in protests in Benghazi. Religious extremists stormed the U.S. consulate there. A controversial anti-Islamic video, posted on YouTube, was the catalyst for the attack. That has put YouTube and it's owner Google in an uncomfortable position.

Voters have been at the polls today in the Netherlands — and the results could have a big impact on the troubled euro zone.

Europe's rescue fund got an important boost today. Germany's top court ruled the bailout fund is legal under German law. But what exactly does that mean for the troubled continent?

Being out of work for a long time is tough. Going back to work after a long absence can be almost as challenging to catch up in today's fast-changing work environment.

Today in the world of tech: Apple, Apple, Apple, Apple, and more Apple — as the company unveils its new iPhone. But before you get swept up in the Apple breathlessness, and rush to preorder, you might want to stop and think about exactly what you’re buying into. Because when you buy a device these days, you’re not just buying a gadget — there are whole ecosystems of products and apps and content that are separate for each phone or device.

The House of Representatives could vote as soon as tomorrow on legislation to fund the government for the next six months and avoid a shutdown. That temporary funding would keep the government going. But would mean some uncertainty for federal agencies. In Germany, a top court has rejected calls to block Europe’s new rescue fund, ruling that the fund is legal under German law. And the iPhone 5 is expected to be unveiled at a press conference later today. Today, Apple’s iPhone is a major object of desire — but it wasn’t always that way.

Germany's top court has given the green light to Europe's new rescue fund. The court rejected claims that the fund was illegal under German law.

Now all customers will know how many calories are in that Big Mac.

The well-known author, philosopher and Princeton professor is embarking today on a four-state tour aimed at bringing awareness to poverty issues in the United States.

But six-month extension leaves government agencies unsure how to plan.

As Apple announces its newest iPhone, we take a look at tech ecosystems you buy into when you buy a new gadget.

After a patent lawsuit between Apple and Samsung made headlines, some people became more aware of Samsung's devices. It's paid off for Samsung, so far.

It wasn't always the iPhone. A look at past objects of desire and prestige, and what they say about us as people.

The IRS richly rewarded a former UBS banker for exposing the Swiss bank's scheme to help Americans avoid taxes through offshore accounts.

World Trade Center developers have brought a lawsuit against United and American Airlines for not doing enough to prevent the September 11th attacks. The IRS awarded $104 million awarded to a banker who blew the whistle on his company, but was also convicted of being part of the conspiracy. There are signs that the luxury goods sector is finally being affected by a weak economy. A North Carolina community college is training students so that they are qualified for manufacturing jobs requiring new skills. And Sarah Gardner talks to journalist Bob Woodward about his new book “The Price of Politics,” which examines the 2011 debt ceiling crisis.

Bob Woodward has been writing about politics and power since the '70s when he and Carl Bernstein broke the Watergate story. His latest book takes the reader inside the Obama White House during last summer's debt ceiling crisis.

In Brussels, people are smiling over a new bailout plan to save the euro. Meanwhile in Greece, summer sun and good food are taking the edge off harsh reality.

Six years after sweeping health care reform, Massachusetts is still struggling to lower the cost of care.

North Carolina community colleges work with local companies on which job skills to teach students.

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Weeks of flat store sales at the high-end British clothier could be a sign that China's economic slowdown and Europe's debt crisis are ending a nearly three-year boom in demand for luxury goods.

Last week in Europe there was relative euphoria: The European Central Bank said it stood ready to buy the government bonds of any nation that came seeking its help. That would help countries like Spain and Italy keep their borrowing costs down, and keep them from lapsing into financial crisis.

Super donor Robert Mercer is bankrolling a new super PAC trying to oust Rep. Tim Bishop, D-N.Y., in his home district

Because of an insurance dispute, after all these years, a jury may take on the question of whether airlines' poor security was responsible for the World Trade Center disaster.

Shares of Burberry are down more than 18 percent this morning. The luxury retailer slashed profit forecasts and warned that the luxury goods market is headed for hard times.

The euro's second-largest economy (and the man who leads it) has been in the spotlight recently. France finds itself in a similar bind as Greece, Italy and Spain — how do you balance the state budget without crippling economic growth?