Week of October 1st, 2012

The CEO of Hewlett-Packard discusses her five-year turnaround plan.

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Reviewing the week's headlines on Wall Street and beyond. This week: debating jobs. The new numbers and the presidential candidates' vague answers of what policies they'd use to boost employment.

Former GE top dog Jack Welch has implied that President Obama cooked the books when it comes to the new jobs numbers — but how would one go about doing that? The popularity of Toys ‘R’ Us’ layaway program has caused a run on some popular toys for the upcoming holiday season. California’s gas prices jumped a whopping 20 cents overnight. The government has hired a PR firm to promote and explain all the complicated details of the health care plan. And the Wealth & Poverty Desk visits a workshop that lets you simulate living in poverty.

How do you decide what to do with your money when you have very little? In a special report from our Wealth and Poverty Desk and KPBS in San Diego, we look at the tough choices faced by families living in poverty. For poor people in the U.S., every single penny counts. Good choices about how to spend those pennies can lead to a path out of poverty. Bad choices can send them spiraling downward. We talk with a woman who’s worked and saved enough to buy her own house, a family that’s counting change picked up on the sidewalk, and a young man who will be the first in his family to go to college. Plus, stories on finding the funny in frugal, driving while poor, and poverty simulation.

The unemployment numbers pass from Census surveyors to career civil servants at the Bureau of Labor Statistics to the political appointees in the administration. But safeguards to protect the integrity of the data abound.

The September unemployment rate fell for the right reason, for a change: More people are seeking work and finding it. Students from the Annenberg School of Journalism profile four California companies that are hiring highly skilled workers.

The economy is like a rollercoaster, asserts the Funny or Die "news" team. But who is running this rollercoaster? And why have we been stuck on the screaming on the way down part for such a long time?

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One Harvard professor says being poor not only impacts people financially, but mentally as well

Slow economic recovery means layaway is thriving.

Two takes from experts on both sides of the political spectrum on why people are poor and what they can do about it.

Residents of San Diego's wealthiest and poorest neighborhoods reflect on opportunity, responsibility and the American Dream.

Newly hired, unemployed and looking, discouraged and out of work: Meet five Los Angeles area residents who put faces on the September employment picture.

Clifford Fleischbein and DeeDee Varner used to make $250,000 a year. They're now living just above the poverty line in San Diego.

When you're poor, car trouble can spiral out of control — but for those without access to public transportation, a car is essential.

U.S. employers added 114,000 jobs in September and the unemployment rate fell to 7.8 percent. The online game maker Zynga is facing an ugly stock price this morning. From closed-down steel mills to the sprawling modern Cleveland Clinic, Ohio's economic past, present, and future is a window into the state of our nation.

The federal government has signed on with an ad agency for a $3 million campaign to promote insurance exchanges.

Dan Lungren, Ami Bera battle in targeted race that pits energy against the environment

California discovers how close it lives to a tipping point when refinery problems combine to create a sudden gas shortage and a spike in prices.

September's unemployment rate fell to 7.8 percent, the same place it was when President Obama took office. Presidential economic adviser Alan Krueger and Romney adviser Glenn Hubbard share their reactions to this morning's jobs report.

The government's September jobs report is out this morning. The Bureau of Labor Statistics is reporting that unemployment has fallen to 7.8 percent with 114,000 jobs added last month.

U.S. employers added 114,000 jobs in September, according to the Labor Department's latest report. Economists say that it's a slightly positive indicator — but not a particularly strong one. Many say that even more jobs needed to be created to keep the economy growing. The drop in the unemployment rate may reflect revisions to data out during the summer that may be stronger than originally thought.

The Big Fun Toy Store, in the suburb of Cleveland Heights, Ohio, is a small business that has dealt with the ups and downs of the state's economy over the last several years.

From closed-down steel mills to the sprawling modern Cleveland Clinic, Ohio's economic past, present, and future is a window into the state of our nation.

From closed-down steel mills to the sprawling modern Cleveland Clinic, Ohio’s economic past, present, and future is a window into the state of our nation. When it comes to all of the different indicators used to measure the country’s economic health, especially during the election year,  the unemployment rate is the Big Man on campus. Today, the Bureau of Labor Statistics is reporting that unemployment has fallen to 7.8 percent — the lowest in almost four years — with 114,000 jobs added last month.

The penalty: $163 million. The crime? Using something called “Scareware.” This particular Internet scam delivers fake popups saying, “you’ve got a virus,” followed by a prompt to solve the problem and clean up your computer with the help of your credit card. Of course, once you’re that far, they’re quite possibly helping you dissassemble your computer’s security system as well. This week, the FTC is continuing a multinational crackdown on this particular kind of scam, shutting off phone lines and cutting off bank accounts.

The FTC has delivered what could be a landmark judgment on a certain kind of internet scam where unsuspecting users are duped into paying cash to protect their computer from viruses that aren't actually on it.

Unfortunately, "Battleship" wasn't the last board game-turned-movie.

Facebook has a billion users. What other things are in the 10-digit use territory?

When it comes to all of the different indicators used to measure the country’s economic health, especially during the election year, the unemployment rate is the Big Man on Campus.

Poverty simulation exercises confront participants with empty wallets, tough choices, and a better understanding of low-income people.

Facebook, needing new types of revenue, rolls out a feature that allows users to pay a fee so their posts jump to the top of friends' pages.

A day after the presidential debate and people are talking about… Big Bird. Mitt Romney said he wants to stop giving subsidies to PBS, even though he loves Big Bird. We explore what economic class the “Sesame Street” character is in. We also look at Medicare reform and polling data from Gallup. Plus, how much would you pay to promote a post on Facebook? And stories on the impact of sanctions against Iran, crime in the bankrupt city of San Bernardino, Calif., and we check in with a Midwest farmer to see how he’s doing after the summer drought.

As the European Union prepares to impose a ban on natural gas imports from Iran, the country's currency has already fallen sharply because of international sanctions.

Some efforts to change the government health care program for seniors has triggered fireworks; others, not so much.

After the first presidential debate on Wednesday, the political polling season is about to kick into high gear. Why polls matter, and why we like them so much.

San Bernardino is struggling to find its way out of the recession and out of bankruptcy. Crime is one of the biggest problems the city is facing, and there are many competing solutions.

Obama smirks, Romney leaves heart in Cayman Islands

Voters in the swing state of Ohio weigh in on what issues matter most for the middle class this election and who won the debate. In last night's debate Romney drew on his strengths with voters — the economy, the deficit, and the role of the federal government. How will Romney's performance affect the trajectory of the race?

Recent rain in Missouri has helped drought-stricken farmers. Cattle rancher Ken Lenox says the grass is practically jumping out of the ground. Despite the promise of new feed, hay prices remain high, and ranchers are closely guarding what they have.

Venezuelans will be going to the polls this weekend to elect their president. Unlike any election in recent memory there, it's looking close for Hugo Chavez, who has been in power since 1998.

In last night's debate, Mitt Romney said the president gave $90 billion to the green energy world. That $90 billion number? That's right, sort of.

Presidential debates are designed to help voters decide who to support, but if you run a small business that does political work, more often than not, you’ve got to pick sides too.

Last night's debate brought a number of what seem like novel developments: Pivots on critical issues by Romney; the president leaving out seemingly obvious talking points. But how surprising are they, really?

In last night's debate Romney drew on his strengths with voters — the economy, the deficit, and the role of the federal government. How will Romney's performance affect the trajectory of the race?

Following the presidential debate, voters in the swing state of Ohio weigh in on what issues matter most for the middle class this election and who won the debate.

Crowdsourcing: reaching out to the entire planet in search of talent to solve problems. Many argue crowdsourcing is the job market of the future. A New York startup called VoiceBunny is using the power of the crowd to provide voice-overs for online videos, advertisements, and blog podcasts. While the service aims to lower costs and provide faster turn-around for customers, it may threaten the job model of traditional staff announcers.

The morning after the presidential debate, voters in the swing state of Ohio weigh in on who won and what issues matter most this election. The middle class was a popular talking point for candidates Mitt Romney and Barack Obama in last night’s debate — how did it play in the minds of voters? Presidential debates are designed to help voters decide who to support, but if you run a small business that does political work, more often than not, you’ve got to pick sides too. Venezuelans will be going to the polls this weekend to elect their president. Unlike any election in recent memory there, it’s looking close for Hugo Chavez, who has been in power since 1998.

The puppet cast of the children's TV show "Sesame Street" represents a cross section of Americans — from the orphan child Big Bird to the independently wealthy Bert and Ernie to the homeless Oscar the Grouch.

Is crowdsourcing talent online the job marketplace of the future, and if so, will we get paid enough?

After a night focused on numbers, tax cuts, and deficits, the takeaway discussion points may well end as Big Bird and moderator Jim Lehrer.

Ahead of tonight’s presidential debate, we look at the possibilities of economic growth and whether GOP candidate Mitt Romney will discuss his $17,000 tax deduction plan in more detail. Meanwhile in China, workers are moving closer to home because of an improved economy. And stories on who owns the M-22 highway sign in Michigan, Lenovo’s new North Carolina factory, getting paid for tweeting while shopping, and teachers share their Plan B.

JetBlue has a new contest it's running; the big prize is a free flight. It's a round-trip flight so you can flee the country…when the candidate you didn't vote for wins.

A growing group of websites lets you cash in on your opinion.

Mitt Romney says he wants to lower everyone’s tax rate by 20 percent, and one way of doing that is to restrict deductions of more than $17,000. Experts say Mitt Romney 's deduction cap would mostly impact the wealthy.

Twenty years after the start of China's great migration of farmers leaving rural China to work at factories along the country's coast, workers are beginning to return home, following an investment boom in China's interior.

There are more than five million teachers in this country, but layoffs have forced many to rethink their careers. Michael Kane recently married another out-of-work teacher; they're living with his parents in Ohio.

When it comes to social media, it’s easy to know what your friends like. But what you may not know is that if you click on one of those things, your “friend” might be getting a commission. We wade into the murky waters of recommendations and advertising. Also, the Chinese computer-maker Lenovo is opening a new factory in Whitsett, North Carolina — hundreds upon hundreds of miles from where most computers are from. Plus we have the latest entry in our Plan B teacher series and visit with our friends over in the world of Freakonomics.

The world's No. 2 computer maker Lenovo will hire 115 people to build computer servers, laptops and tablets in Whitsett, N.C., near its North American headquarters.

The Iranian rial has lost 25 percent of its value against the dollar in just the past week, and there is lots of blame to go around — including some directed at the U.S. T-Mobile, America's struggling fourth-place wireless company, says it has finally reached a merger deal — but not with one of the big guys.

As President Obama and Mitt Romney practice their talking points and zingers on the American economy, Freakonomics reveals why we may never get big-time economic growth back.

Democratic super PAC pumping money into a race that looks increasingly like a GOP pickup

Today T-Mobile and MetroPCS announced a merger, uniting them as the fourth largest wireless carrier in the U.S. The cellphone companies will cater to customers seeking low monthly payments, a rapidly growing mobile segment.

Today police in Iran fought with money lenders and other protesters in front of the country's central bank. Inflation in Iran is running at a shocking clip: the Iranian Rial is down 25% against the dollar in just the past week.

With the first presidential debate set for tonight in Denver, a question for you: Remember Texas governor Rick Perry’s brain freeze in a debate during primary season? How did you see it — live on TV or later on your laptop or phone? Recent studies have shown that technology is shaking up the way we consume media. We check in with the online news site Buzzfeed and blogger site Tumblr to find out their plans to cover the debate for today’s digital, instant, and social age.

Most people watching the first big presidential debate will do so on television, but for a fast-increasing number, it's far from the only primary source.

On today’s show we broadcast live from Cleveland, Ohio. Ahead of the first presidential debate tonight, republican Governor John Kasich and the state’s former democratic Governor Ted Strickland share their views on Ohio’s economy and which way the state will swing this election. T-Mobile and MetroPCS announced their plans to merge, uniting them as the fourth largest wireless carrier in the U.S. Protests breaks out in Iran as inflation  of the Iranian Rial soars — the currency is down 25% against the dollar in just the past week.

Ahead of tonight's debate, current republican Governor John Kasich and the state's former democratic Governor Ted Strickland share their views on Ohio's economy and how it fits in the national election this year.

As part of a state-federal investigation, the Attorney General of New York is suing JP Morgan over big losses from mortgage-back securities. The bonds originated with Bear Stearns, which JP Morgan bought in 2008.

If you're missing your hockey fix ESPN has signed a deal to show hockey… from Russia. Plus, be sure to join Marketplace for live coverage of the first presidential debate tomorrow night.

Despite its preppy image, Banana Republic began as a purveyor of modified military surplus and safari wear. The company's founders, Mel and Patricia Ziegler, had no business experience, but turned a small shop into a big brand.

They say the apple doesn’t fall far from the tree — but that’s for the judge to decide, now that JP Morgan Chase is being sued for Bear Stearns’ bad behavior. We chat with New York Attorney General Eric Schneiderman for a breakdown on the lawsuit the state’s filed against Chase. Meanwhile, Nissan is revving up its Datsun brand in emerging countries like Indonesia and India. The cars are $3,000 a pop and among the cheapest in the world — but is it true that you get what you pay for? Plus, we go wild with the founders of Banana Republic and ask what it really means to be energy independent. 

IAC/InterActiveCorp CEO Barry Diller discusses his new publishing venture, risk taking and why he's against big media corporations.

The OPEC oil embargo nearly 40 years was a shock to the U.S. and its economy. But the long-term effects proved a shock to Saudi Arabia and other OPEC members, who learned that oil and politics don't mix.

New York's attorney general is suing JPMorgan for fraud over mortgage-backed securities. Goldman Sachs CEO Lloyd Blankfein sits down with us for an exclusive interview. Whispers and nameless sources this morning are signaling Spain is preparing to ask the European Central Bank and its creditors elsewhere in Europe for a sovereign bailout.

Whispers and nameless sources this morning are signaling Spain is preparing to ask the European Central Bank for a sovereign bailout causing bond and equity markets in Europe to zig and zag throughout the day.

The New York Attorney General is suing JP Morgan Chase over mortgage-backed securities peddled by its Bear Stearns unit, leading up to the financial crisis.

The new Datsun will be sold in emerging countries like India, where it will be the first car for many buyers. It will not be as safe or as environmentally clean as cars in the U.S.

American Crossroads makes political hay out of attacks in Libya

JPMorgan Chase is facing a new law suit: civil fraud charges in New York state, over mortgage-backed securities. How does this case differ from potential criminal charges?

This morning the National Retail Federation predicted modest growth for holiday shopping this year — up about four percent — and automakers are expecting another strong month of sales.

Lloyd Blankfein, chairman and CEO of Goldman Sachs, says the U.S. risks a ratings downgrade and a hit to its reputation as a global business leader as legislators battle over the upcoming 'fiscal cliff.'

What if the data used by your Smartphone to browse the web, check email and Facebook and look for nearby restaurants were free? A new service called FreedomPop hopes to go up against AT&T and Verizon’s paid data plans by offering customers 500 megabytes per month for free. And, how about electronics that get implanted in the body during an operation and dissolve when no longer needed? This is still early-stage according to an article in the latest edition of the journal “Science,” but it could change medical practice and the term ‘biodegradable’ as we know it.         

Lloyd Blankfein, chairman and CEO of Goldman Sachs, sits down with us for a rare interview. Blankfein says he supports the Dodd-Frank financial reform and warns that the U.S. risks a hit to its reputation as a global business leader as legislators battle over the impending ‘fiscal cliff.’ And, with the first of the presidential debates coming up tomorrow night, we check in on what younger voters will be watching (hint: not the debate), tweeting, and liking on Facebook.

Foreign companies searching to lower costs have found inland Chinese cities like Chengdu to their liking. The city offers a range of perks to companies to relocate there from China's coast, and skilled workers originally from the region are returning home as a result.

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A new service called FreedomPop hopes to go up against AT&T and Verizon, and a new kind of dissolve-able circuit that could change the field of medicine.

Listen to the audio broadcast of the Marketplace No Horse, No Race live election road show from WCPN Ideastream in Cleveland.

Young viewers might watch the CW channel during the presidential debates, but they'll still keep up with politics via social media.

IKEA says it regrets a decision to airbrush women out of its Saudi Arabian catalogs. The images included one of a mom in her p.j.s, standing at the bathroom sink with her young son.

Civi war combatants mindful of the importance of oil on the economy, left infrastructure largely undamaged.

Commentator Michael Casey says the standard answers from the right and the left miss the point

An explosion at a Japanese factory shut down production of an absorbency chemical used in disposable diapers. But for now, at least, it looks like the global diaper market can absorb the disruption.

Several big retailers will increase their ranks of seasonal workers, as consumer spending picks up.