Week of September 24th, 2012

Kids growing up in the City Heights neighborhood of San Diego weigh in on their community through photos and videos

Subprime Meltdown. The Collapse of Lehman Brothers. Too Big To Fail. Those headlines dominated the global news in 2008. But how are they playing out this election year?

We're in San Diego working hard to bring you a special show set to air next week on the tough choices poor people have to make.

New York bureau chief Heidi Moore and CNBC's John Carney discuss Bank of America's recent settlement, new figures from the Department of Labor and what their economic guts are telling them this week.

Scott Borchetta, the music executive who founded Big Machine Records, has turned country music on its head. And not just in the artists he's discovered (including Taylor Swift) but in the deals he's negotiated.

Today, Apple CEO Tim Cook, posted a letter of apology to customers, in response to growing criticism over the Maps app in Apple’s new operating system. We imagine how Google co-founder Sergey Brin might have responded.

CEO Tim Cook took to the Apple website Friday to say he's sorry for the company's lousy maps and to steer users to the competition — who are more than happy to supply the panicking masses with map apps.

The National Journal has mapped out Americans' favorite beers… by political affiliation. What do the blue states drink? And do the red states prefer red or pale ale?

Bank of America will pay $2.4 billion to shareholders who accused it of withholding negative information about Merrill Lynch's finances.

Apple’s CEO has apologized for the company’s map misstep. Tim Cook suggested Apple users turn to the competition for relief. How might this impact map competitors? Plus, when GM went bankrupt the company left behind a slew of abandoned factories — equipment and all. Now, buyers for the old plants have finally come knocking. And we look at the state of country music, Bank of America’s $2.5 billion settlement, GMO labeling, and why one California judge has ruled that banning non-aggressive panhandling is unconstitutional. 

An Arcata, California ordinance did not allow non-aggressive requests for money, including signs, in many parts of town. But that all changed when a judge ruled the mandate unconstitutional.

Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning, but isn't admitting any wrongdoing. It's time for 80's kids to "wax" nostalgic at the revival of Teenage Mutant Ninja Turtles — and time for Apple Ping-ers to mourn the loss of the fledgling social network. American Airlines is threatening to take its pilots' union to court, accusing the pilots of disrupting flights by calling in sick and calling for unnecessary maintenance. And for the second straight year, fewer students enrolled in U.S. graduate schools.

Overall enrollment in graduate programs fell almost 2 percent last year. Debra Stewart from the Council of Graduate Schools tells us why and which program is bucking the trend.

Americans for Job Security's new ad attacks Obama on economic issues

Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning. It's compensation for maybe not sharing the whole story when B of A bought the failing brokerage Merrill Lynch in 2008.

American is trying to impose new pay and work rules on its pilots — and they’re not happy. Their union hasn’t called for any official action, but American says pilots are filing more maintenance complaints and flying circuitous routes.

Dozens of shuttered GM plants across the country are for sale, and a recent uptick in manufacturing means there are many interested buyers.

California voters will decide whether genetically modified foods should be marked as such. Food-makers have fought the change, a turnabout from when genetically modified foods were first introduced.

It seems like there's a new warning every week about our aging population and what it means for government entitlement programs, among other things. Marketplace's Chris Farrell is here to separate fact from fiction.

The French government has just unveiled a budget for next year that includes major tax hikes for the rich and for businesses. France is the second largest economy in the euro zone and so far it has managed to remain a leader in the debt crisis, rather than a victim — for the most part anyway.

What's the Hindi word for Frappuccino? India is set to get its first Starbucks next month in a posh neighborhood in Mumbai.

People are spending more time sharing photos on Instagram than they are writing or reading on Twitter.  The new numbers are a surprise, given how Twitter-style microblogging is supposed to change the way we interrelate. But sending a picture of Dmitri the goldfish via Instagram?

British regulators have just proposed a ten point plan to overhaul a key global interest rate. But they say LIBOR shouldn’t be scrapped altogether because it’s too entrenched in the financial system. LIBOR is used as a benchmark for trillions of dollars worth of transactions around the world. The Barclays Center opens in Brooklyn today with a Jay Z concert. And the big question is whether people take the train to the stadium, because there are only a few hundred parking spots. And what’s the Hindi word for Frappuccino? India is set to get its first Starbucks next month in a posh neighborhood in Mumbai.

The children's cable network needs some hero to save it from falling ratings, and it's betting on a new Teenage Mutant Ninja Turtles. But how much of the '80s can you bring back?

The new Barclays Center Arena in Brooklyn can accommodate 18,000 people, but it offers just a few hundred parking spots.

After a recent scandal surrounding manipulation of a key interest rate, reforms are being proposed.

Twitter had more active users in August, and the world is getting more freelancers working online all the time.

Author Nate Silver discusses why he believes that numbers are part of the challenge in painting a clear picture of the American economy.

Rapper Lil Wayne has surpassed Elvis Presley's record of appearances on Billboard's Hot 100 chart.

Defense contractors have warned for months they’ll have to lay off thousands of workers if Congress takes us over the fiscal cliff at year’s end. As crunch time approaches, how serious are they? Sears and Darden Restaurants have a new plan for employees’ health care. The NFL and its referees union have agreed to a new, more lucrative contract. That got us wondering, what does it take to be a ref? Gallup’s Frank Newport discusses why there hasn’t been a major third-party presidential candidate in this election cycle. Plus, we look at Spain’s tough new budget, the bankrupt city of San Bernardino, Calif., and author Nate Silver on statistical modeling.

In further austerity measures, the government imposes some $50 billion of tax hikes and spending cuts

1992 was a banner year for the third-party candidates. Like this election cycle, the economy was bad and people were concerned about the national debt. But no third-party candidate like Ross Perot has emerged.

VoteVets Action Fund and Majority PAC say Rep. Jeff Flake has failed America's soldiers

The NFL has reached an agreement to end a lockout of referees. The league will give existing referees much of what they want for the next few years — including a defined pension plan and a pay raise. In Spain, an ambitious new budget plan calls for more austerity. U.S. jobless claims fell last week to its lowest level in more than nine months. A report from the Pew Research Center says U.S. student loan debt is rising sharply. And how much does a voter's income determine his or her vote?

New polling reveals that young people are more positive about the prospects of finding a quality job than their elders.

Spain has unveiled an ambitious budget plan. Will it be enough to get the job done? Meanwhile, what does the mixed economic data in the U.S. mean for the economy?

Recipe for a referee: start at the bottom, hit the gym, and keep your day job.

There’s a new report out today from the Pew Research Center with some startling statistics on student loan debt: It’s rising sharply in the U.S.

Well we are 40 days away from Election Day here in the U.S. And there's some new polling about just how much a voter's income determines his or her vote.

Today the government of Spain is expected to lay out yet another new budget with even more cuts in it.

A new study finds African-Americans aged 12-20 are exposed to more alcohol advertising than American young people in general

The National Football League has reached an agreement to end a lockout of referees. The league will give existing referees much of what they want for the next few years, including a defined pension plan and a pay raise.

It’s called “Additive Manufacturing.” There’s a snappier name for it: 3D Printing. Til now we’ve tended to make objects by cutting, grinding, chiseling away at metal or wood. Now we are entering the age of  making things by adding, not subtracting. The Obama administration thinks this sort of thing creates jobs, and wants to get 3D printing to a place near you.

The National Football League has reached an agreement to end a lockout of referees. The league will give existing referees much of what they want for the next few years — including a defined pension plan and a pay raise. Tomorrow, British regulators are expected to propose major changes to the way a key interest rate — LIBOR — is set. And a new study finds that young African-Americans are being exposed to substantially more alcohol advertising than their peers.

Instead of offering policies to choose from, some big employers will be offering workers a lump sum and letting them shop for their own health care.

Contractors say 'fiscal cliff' could force layoffs; legal deadline for pink slips looms

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Long struggling, San Bernardino couldn't weather the storm of the 2008 recession. The city of more than 200,000 has declared bankruptcy, and that's just one of the big problems it's facing.

The Obama Administration hopes to put $1 billion towards the future of manufacturing, with an emphasis on areas like 3D printing — which is gaining more traction in the medical industry.

Tesla's behind its production schedule, Toyota is all but abandoning its plans for a plug-in car, and the new Fisker gets a bad review from Consumer Reports.

Reform is on the way after fraudulent manipulation of the London Interbank Offered Rate, or LIBOR, the rate used by many banks in lending to each other.

As the health care system gets more complex, more people are turning to patient advocates for help.

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Markets are shaken by the mass protests against austerity measures in Greece and Spain. Investors are questioning their earlier optimism over the prospects of recovery in Europe.

The new Karma luxury hybrid is smarting from a series of bruising reviews over at Consumer Reports.

While consumer confidence may be higher, business executives are less bullish

Want a sure fire way to see the markets take a tumble? Start with street protests, mix in riot police… and toss a few Molotov cocktails in for good measure. U.S., European and Asian markets have all been shaken by more anti-austerity protests in the eurozone. In the latest installment of our “Food for 9 Billion” series, we take a trip to rural Africa, where multinational supermarket chains are racing to serve new customers. Will these new supermarkets be a blessing or a curse for Africa’s small farmers? Plus, we explore why CEOs are predicting a glass-half-empty economy and wonder how to spend the $7 billion we found buried near Baton Rouge.

The spread of modern grocery chains could lift millions of African farmers out of poverty — or ruin them.

Koch-backed nonprofit hits Obama on 'failing agenda'

More protests are expected in Spain today after some big demonstrations last night. There's outrage over a new round of budget cuts as Spain tries to avoid becoming the next Greece. New home sales in the U.S. fell in August. A new study finds that total knee replacements have more than doubled in the past two decades. What does that mean for health care costs? Plus, stories on wind farms in Oregon, 3-D printing retailers, and the controversial NFL call that led to a loss for the Green Bay Packers.

In recent years Americans have been replacing their knees at an remarkable rate.

Greece has been shut down today because of a huge nationwide strike. Fifty thousand people took to the streets of Athens and police fired tear gas after violence broke out near the parliament. The issue, of course, is austerity: The very unpopular budget cuts going on as part of the solution to the debt crisis.

We’re getting another pulse check on housing later this morning. The numbers on new home sales for August come out today, and they’re expected to be pretty good. How does an uptick in housing affect the job market? Turns out, they are pretty closely linked.

One of the world's largest wind farms officially came online this week in Eastern Oregon, with 300 giant turbines spread over dozens of miles. But the announcement comes at a time of uncertainty for the industry.

A group representing British banks is giving up its responsibility for setting a key global interest rate. The British Bankers Association will no longer control LIBOR — the London Interbank Offered Rate. That's the benchmark for hundreds of trillions of dollars in mortgages, student loans and other transactions around the world.

The once-mighty social media site Myspace has a slick video showing off its new look. And pop star Justin Timberlake likes it so much he’s endorsing it… though it should be noted that Justin’s also a major investor. But will some celebrity power and a thorough redesign make Myspace a go-to spot again for online users?

Marina von Neumann Whitman has been a lot of firsts. She was the first woman ever on the White House Council of Economic Advisers.

More protests are expected in Spain today after some big demonstrations last night. There's outrage over a new round of budget cuts as Spain tries to avoid becoming the next Greece.

More protests are expected in Spain today after some big demonstrations last night. There’s outrage over a new round of budget cuts as Spain tries to avoid becoming the next Greece. The office supply chain Staples has announced plans for a complete overhaul. The company appears to be taking a page out of Best Buy’s playbook. And Marina Von Neumann Whitman is the daughter of the famous mathematician, John von Neuman. But she managed to beat the odds and come out from her father’s shadow, going on to serve as the first woman ever on the White House Council of Economic Advisers.

The United States has the most crude oil stashed away and ready-to-go of any nation on earth in its Strategic Petroleum Reserve. But you can't see the oil. It's underground in salt domes.

The office-supply chain will close dozens of stores in the U.S. and Europe and increase its selling online and through mobile apps.

The technology for 3-D printing has been around for a while, but it's been too expensive for regular folks. That's changing.

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Myspace has a slick new look, according to a new promotional video–but can that bring it back to its former social media glory?

What did the president have to say about the controversial ruling made by referees at the end of the Seahawks-Packers game?

The once-popular social media site is revamping its look and aiming to be a destination for musicians and artists.

Last night's decision by replacement refs has ripple effects on teams, betting outfits, and the referee's labor dispute

House Republicans have passed a bill to allow for voluntary contributions on tax forms. While the Treasury already welcomes donations, they typically only receive a few million dollars each year — far from enough to pay down the deficit.

Controversy hit the football field last night, when a substitute referee called a Seattle Seahawks pass a touchdown — though seemingly everyone else in the world says a Green Bay player intercepted the ball. Besides angering Packers fans, that one call could cost the NFL a whole lot more. Myspace has unveiled a new look and a new mission, but in a Facebook world the question is — who actually uses Myspace? Plus, we look at the Republicans’ modified version of the Buffett Rule bill, the potential invasion of Asian carp into the Great Lakes, apples in China, and how the economic climate affects our music playlists.

In Morocco, unemployment hovers at around 15 percent and many dream of receiving a license from the king to operate a business — such as a bus company.

China grows eight times as many apples as the U.S., and supplies most of the concentrate used to make apple juice here. But as more Chinese can afford fresh apples, concentrate prices are soaring.

Republican favorite in U.S. Senate race hit with nonprofit, Democratic Party ads.

Health care spending grew more than 4 percent last year. Workers at Yahoo! are expecting to hear from the company's new CEO today on her plans to jump-start growth. A dispute between China and Japan over a chain of islands could have a real impact on the U.S. economy because Japan is expected to switch focus from a free-trade pact with China to a new one with the United States. And if you're trying to get ahead in this economy, there's some age-old wisdom that would seem to apply — play up your accomplishments. Seems obvious, but maybe that's in fact not your best plan of attack.

If you're looking for a job or trying to get ahead in this economy, there's some age-old wisdom that would seem to apply: play up your accomplishments. Seems obvious, but maybe that's in fact not your best plan of attack.

Today, the latest Case-Shiller Home Price index was released. It looks at housing prices in the 20 biggest metropolitan areas of the country. Consumers are also upbeat: consumer confidence jumped to the highest level since February.

European wine experts are mulling over a critical issue today: whether American wine producers should be allowed to use the word "chateau" on bottles they sell in Europe.

President Obama and Mitt Romney will be in New York this morning for speeches at the Clinton Global Initiative. Josh Dinman, meanwhile, will be at work in Loudoun County, trying to figure out which one of them he should vote for.

The ongoing fight between China and Japan over a chain of islands continues, and now it has Toyota is scaling back production of its luxury Lexus models because of reduced demand in China.

With all this information technology at our disposal, it’s striking how getting to the truth of a matter can still be so tough. Two tech stories from opposite sides of the world today remind us how even in 2012 the flow of information is still tightly controlled. First, Iran, where authorities seem to be restricting access to some big websites. And part two, from China: that brawl-slash-unrest-slash-riot involving employees of one of that country’s huge technology factories the other night.

The San Francisco Board of Supervisors will vote today on whether to allow the building of micro-apartments as small as 150 square feet. Similar programs have started to be tested in New York and Boston.

It may be too early to assign blame for Europe's economic crisis, but it is not too early to figure out what went wrong in this country back in 2008. Sheila Bair headed the FDIC back then, and is out with a new book this morning, in which she says she saw signs of trouble in subprime mortgages way back in 2006.

Years after the financial crisis here in the U.S., there are many strong voices that say the government, and regulators, didn’t do enough. One such voice is Sheila Bair, the former chairwoman of the FDIC. In her new book, she writes about her push to tighten lending standards on mortgages, her clashes with then New York Fed head Timothy Geithner, and why she is disappointed in both Barack Obama and Mitt Romney. Plus, today San Francisco’s Board of Supervisors will consider changing  the city’s building code to allow for tiny apartments, and developers love the idea.

With all this information technology at our disposal, it's striking how getting to the truth of a matter can still be so tough. Two tech stories from opposite sides of the world today remind us how even in 2012 the flow of information is still tightly controlled.

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Millenials have been dealt a bad financial hand. Experts share a few tips to make it better.

In an exclusive broadcast interview, the International Monetary Fund chief urged U.S. leaders to take swift action on the so-called fiscal cliff, and called for European leaders to continue vetting the region's debt crisis.