Week of January 7th, 2013

The Weekly Wrap looks at what President Obama's Treasury Secretary pick indicates about the economic priorities in President Obama's second term, and what a trillion dollar coin says about how we run our economy.

“Pure Michigan” has been a popular tourism slogan. But the state is now using it to attract businesses by touting a new law that curbs union power.

There's a lot more to crowdfunding than just having an idea and the Internet. Here are 5 tips to help you succeed at soliciting donations online for your projects.

Attention college seniors, we have an awesome college essay topic for you: money. Also, it pays to read the fine print on your cell phone and cable bills. We take a closer look at all those little charges that hike up the total you pay. And crowdfunding is more than fundraising, it’s become a global phenomenon. But why? Plus, money lessons from Monopoly, how some people make use of gray water, and a commentary on romanticizing poverty.

FAA won't ground the Boeing 787 Dreamliner but they will review the plane's construction.

The 787 Dreamliner was supposed to be the airplane of the future, but it looks like the Federal Aviation Administration will soon be bringing those dreams back down to earth. As part of new marketing strategy, the men’s fragrance line Axe is launching 22 consumers into space. Having doctors move paper records onto computers was supposed to save patients money — but that hasn’t been the case. Queena Kim reports from the Consumer Electronics Show about whether the death of CES has been greatly exaggerated. And Amy Scott continues her series on the Oyler School in Cincinnati, and how it is teaching its students about professional manners.

America's most popular board game about money is losing one of its signature pieces. One token will be replaced with a new piece. Historian Philip Orbanes explains what Monopoly can teach us.

Clunky programs, high costs and incompatible systems are factors in failure to save billions.

Space is becoming a popular theme for advertisers.

There are more than 50 crowdfunding sites in the U.S. and countless projects seeking donations via online platforms. So what motivates us to give to certain projects?

And, contrary to reports, there's still plenty of life in the Las Vegas' annual tech extravaganza.

Journalist David Cay Johnston, author of "The Fine Print: How Big Companies Use 'Plain English' To Rob You Blind," exposes how Americans are being nickle and dimed by little fees and surcharges on bills for everyday services.

Michigan's state tourism slogan "Pure Michigan" got caught in political crossfire this week. What's your state slogan? And does it best represent your state?

Homeowners can directly recycle water from showers or washing machines by installing what are known as greywater systems, which divert wastewater to mulch beds in the yard.

We're talking about some of this week's biggest news stories: consumer debt, the new mortgage rules, and gun control.

A new study from the RAND Corporation says electronic medical records haven't saved us what they were supposed to.

Boeing is having a Dickens of a time with their newest plane. A new study reports on the disappointment of electronic bank records. A creative plan to save the local movie theater, and one last limerick before you head off to the bar.

New data for the month of November show the U.S. trade deficit has hit its widest point in seven months — but could that be a good thing?

A group of local residents in Oakhurst, Ca., have come up with an innovative subscription-based financial plan to save their theater.

College admissions officers say that more high school seniors than usual are writing their college essays about money issues.

California governor Jerry Brown has pulled an impressive disappearing act. After years of being severely in the red, Brown says the state's huge budget deficit is now gone.

Where can I find a financial planner for my wealth bracket? Will someone alert me when it's time to take my mandatory 401(k) withdrawals? Financial expert Louis Barajas answers listeners' letters.

With fires and fuel leaks affecting Boeing's new commercial jet, safety questions have arisen, but some aviation experts say glitches are a necessary part of airline innovation.

When money is tight, people are all too aware of every cent. Commentator Kristin Wong grew up this way and she says it's shaped both how she thinks about money and how she thinks about herself.

At CES, Qualcomm gives a baffling keynote and start up Veveo gets a boost. Also, MIT has invented a new process of bending light on a computer chip, which means we're a step closer to hologram televisions, biomedical imaging, and autonomous driving.

The new government in Tokyo has unveiled a $224 billion stimulus plan in its latest bid to support the world's number three economy.

Sellers want a bigger market, but buyers say that will lead to higher prices.

Investors have high expectations for Wells Fargo — the first big bank to report fourth-quarter results — after turning in nearly three years of solid earnings.

The flu's now widespread in 47 states.

Democratic Senator Richard Blumenthal of Connecticut joins us to talk about his new proposal to curb gun violence — background checks for the sale of bullets. Investors have high expectations for Wells Fargo as it reports fourth-quarter earnings. Natural gas drillers want ramp up exports, but some big industrial buyers have just formed a group to keep the gas from going overseas. And, how far can you throw a Christmas tree?

Democratic Senator Richard Blumenthal of Connecticut joins us to talk about his new proposal to curb gun violence — background checks for the sale of bullets.

International CES has wrapped, but there are still stories to tell. For instance how the startup Veveo’s schedule got even more jam packed with clients for its predictive software at the annual event, and how bad chip maker Qualcomm’s keynote presentation really was in the final judgment. Also, MIT has invented a new process of bending light on a computer chip, which means we’re a step closer to hologram televisions, biomedical imaging, and predictive or autonomous driving. 

Reporting from the floor of the Consumer Electronics Show in Las Vegas, Nev.

Can a divestment strategy have an impact on public policy?

So half the dose should mean half the price, right?

This flu season is shaping up to be one of the worst, and our economy is bound to be affected. With a boom in gold sales over the last decade, the demand for safes and vaults has risen. Now that we know who’s been nominated for an Oscar, businesses that serve Hollywood, from florists to stylists, are gearing up for the event. Today, drones are used as a tool of war, but in a few years you may be able to buy your very own at your local Walmart. And when economic times are bad, pawn shops thrive — but it seems now even high-end pawn shops are doing particularly well.

USC professor Edward Kleinbard suggests IOUs are the best way to fix the debt ceiling.

CDC says bad flu outbreak may cost employers $10 billion in health care costs alone.

The Great Recession has seen a sharp rise in the number of pawn shops in the U.S. There's also been a change of image as better-off people increasingly turn to the institutions to pawn luxury items.

When you hear the word drone, images of warfare or high-tech surveillance come to mind. But two entrepreneurs want drones to revolutionize our daily lives.

The veteran stand-up comic talks about piecing together a living, and eventually saving, when you're self-employed

Gold’s popularity has created growing demand for storage. Gold vaults are spreading from Switzerland to Singapore, as investors want their holdings closer to home.

The Consumer Financial Protection Bureau is rolling out new guidelines for U.S. mortgages. A new study finds that we waste half of the 4 billion tons of food produced annually for human consumption. And HUD cannot afford to fix its public housing, so the government wants to reclassify the properties as Section 8.

The Consumer Financial Protection Bureau is rolling out new rules for mortgage lending. Some bank analysts say that counter-intuitively the stricter rules could actually loosen mortgage lending.

Hawaii, Australia and Italy top the list of America's dream destinations.

HUD cannot afford to fix its public housing, so the government wants to reclassify the properties as Section 8.

Vice President Joe Biden included Walmart in his invites to an industry meeting on gun safety. Why? Walmart is one of the biggest seller of guns in the U.S. Just like it's the biggest seller of men's underwear, dog food and many other things.

New York weighs options for storm defenses in the wake of deadly Sandy. Among them are expensive waterway barriers to protect against storm surges.

One company you wouldn't necessarily expect to be at a giant conference about the technology of the future: Polaroid. But the company has been around for 75 years, says CEO Scott Hardy, and it plans to be just as relevant now as it was when it was making goggles for World War II fighter pilots.

Up to half the world’s food is wasted — that’s the conclusion of a study by Britain’s Institution of Mechanical Engineers.

How confident are you about our economic future? A survey from the polling firm Gallup finds the answer may have more to do with politics than economics.

Supermarkets and pharmacies in Australia are reporting a shortage of the baby formula Karicare due to stockpiling by Chinese customers.

In a few hours President Obama is expected to nominate White House Chief of Staff Jacob Lew as the next Treasury Secretary. He brings a very different type of experience to the job than current secretary Timothy Geithner.

President Obama is expected to nominate Jack Lew to replace Timothy Geithner as Secretary of the Treasury today. Lew is currently the White House chief of staff and has a reputation as a tough negotiator. Supermarkets and pharmacies in Australia are reporting a shortage of baby formula — it turns out Chinese customers are stockpiling the formula. And, how confident are you about our economic future? Your answer may have more to do with politics and economics.

As you may have heard, nobody was elected to the Baseball Hall of Fame yesterday.

One company you wouldn’t necessarily expect to be at a giant conference about the technology of the future: Polaroid. But the company has been around for 75 years, says CEO Scott Hardy, and it plans to be just as relevant now as it was when it was making goggles for World War II fighter pilots. How? Fotobars, for one. But the company also just released a new iM1836 camera that runs Android Jelly Bean and can upload the shots you take with the help of WiFi. Meanwhile Engadget’s senior reviews editor Dana Wollman says that despite all the 3D hype of recent years, television manufacturers at International CES this year are touting not 3D, but 4K TVs. Also, when it comes to weather mapping, what’s Australian for “hot”? The color purple. Now that temperatures got so sweltering, meteorologists had to add a new shade of heat. 

Commentator Robert Reich offers his suggestion for this year's biggest bipartisan economic initiative: Breaking up Wall Street's biggest banks.

A meeting on guns and violence has kicked off in Washington today. The Internal Revenue Service has announced that they will start processing tax returns for the majority of filers on Jan. 30 — a bit later than normal, thanks to the fiscal cliff. Scott Tong speaks to those who have been affected by Venezuelan President Hugo Chavez. Freakonomics Radio’s Stephen Dubner talks about why Nobel laureates, Oscar winners and baseball Hall of Famers seem to live longer than their peers. Dieters are taking to social networking, fitness-tracking devices and health apps on smartphones to try and stay the course. And commentator Robert Reich explains why he thinks it’s time to break up the big banks.

Congress is enduring historically-low popularity ratings – so why do hordes of tourists still visit the Capitol?

One of the iconic Monopoly game pieces is going to jail — permanently. Find out which token got the boot and what its replacement will be.

Taxpayers will have to wait eight extra days to file returns to give the IRS time to absorb tax changes in the fiscal cliff deal.

Taking power in 1999, Hugo Chavez almost single-handedly transformed Venezuelan society, wielding the country's oil wealth as a weapon. Can a strongman economy continue after his death?

Vice President Joe Biden invited all sorts of industries involved with guns to a summit meeting on gun violence. Does accepting the invite amount to accepting responsibility?

Why do Hall of Fame inductees, Oscar winners, and Nobel laureates outlive their peers?

What's behind the double-digit health insurance premium increases some folks are seeing around the country? Driverless cars debut at the Consumer Electrics show. And, smile! You're at Disneyland.

California's insurance commissioner has called out Anthem Blue Cross of California for an 'excessive' 11 percent premium increase for some customers.

Multiple news outlets are reporting that President Obama will put forth Jack Lew as his nominee to be the next Secretary of the Treasury in an announcement tomorrow.

The Federal Reserve has released the minutes from its meeting in mid-December where the Fed's announced a major shift in it's policy.

The International Labor Organization, a United Nations agency, raised concerns about the legal protections that domestic workers get.

In advance of its annual summit in Davos, Switzerland, the World Economic Forum has released its list of the biggest threats to the global economy.

The U.S. is importing less oil, and that will continue into next year. The Energy Information Administration expects the lowest oil import levels in 25 years.

Google has one, so does Toyota and Audi. Self-driving cars debut at the Consumer Electronics Show in Las Vegas.

Amid the tablets and the smartphones at CES, Toyota is showing off a robot car, called the Lexus LS460. In New York's Chelsea neighborhood, they turned an old elevated rail line into a public park. Now that part of town is getting another amenity with no admission charge: Free Wi-Fi courtesy of Google.

AIG's board must consider the shareholder lawsuit, because it is charged with acting in the best interests of its shareholders.

The airlines try, but they can't always make fare increases stick.

The board of the bailed out insurance giant AIG will meet today to consider whether the company should join a $25 billion shareholder lawsuit against the U.S. government — against the very same government that saved AIG during the financial crisis. The latest airline fare hike seems to have fizzled. United raised prices last week, and Delta followed suit. But both airlines rescinded the increase after a competitor refused to play along. And are we transitioning from a homeowner’s economy to a home-renter’s economy?

Google just created the biggest Free Wi-Fi network in Manhattan, blanketing the Chelsea neighborhood with outdoor access for two years. The company says it’s just being neighborly — but will other internet service providers be mad? Meanwhile, International CES is usually known for televisions and smaller gadgets, but one of the big themes this year at the big event in Las Vegas is the self-driving cars of the future…and the present tech that looks towards autonomous vehicles. 

The U.K.'s coalition government has just passed the halfway point in its first term. Critics say its continuing tough talk on austerity is constraining growth.

Coin designer Garret Burke gives two cents on what a trillion dollar coin would look like

After being bailed out by the government in 2008, AIG is considering suing the U.S. government over the terms of the bailout. With more and more movies being filmed outside of Hollywood, businesses that once solely depended on the L.A. movie industry have to find new ways to make money. The battle between austerity and stimulus is being hashed out by Britain’s coalition government. Retail pharmacies are using the flu vaccine to make big bucks. Low-wage warehouse workers are suing Walmart for wage theft, even though they don’t directly work for the retailer. And coin designer Garrett Burke talks about his concept for a proposed trillion-dollar coin.

Drug store chains see flu shots as step towards increased health care offerings.

Even with a new tax break for upgraded train tracks, short line railroads have trouble picking up business.

A sonic tour of Walmart fans and foes as a judge moves a case against Walmart one step forward.

With more and more movies being filmed outside of Hollywood, Los Angeles businesses that once solely depended on the movie industry have to find new ways to make money.

The oil boom in North Dakota has attracted tens of thousands of people looking for work. There are a lot of jobs, but it's not a boom for everyone.

AIG board mulls whether to join a former CEO in suing the U.S. government for shortchanging shareholders in a $182 billion financial crisis bailout.

Alcoa, the first of the big industrial bellwethers, will report earnings after the bell today. Who owns the rights to the Batmobile? Speaking of cars, the National Highway Traffic Safety Administration wants some cars to make more noise. Crowds in China are in an open revolt against government censorship of a publication called Southern Weekly. And advertisers are learning to cope with the DVR.

At this year's Consumer Electronics Show, companies are looking to beef up big-screen, high-tech TVs — and now cameras and camera operators will have to catch up.

Corporate earnings season is here again. The first reports arrive today, starting with the aluminum company Alcoa. Analysts are bracing for a slew of lackluster numbers.

The National Highway Traffic Safety Administration is looking to pass a new rule that would require silent electric and hybrid cars to make more noise.

Dead cows in Pennsylvania? Sorting out fact from fiction in the new feature movie "Promised Land" starring Matt Damon, which examines the underworld of the booming industry of hydraulic fracturing

Chinese journalists protesting against government censorship hold a second day of strikes in the southern province of Guangdong.

Walmart has been added to a class action suit by workers who don't actually work for Walmart.

Almost half of American homes have a DVR, so viewers can record shows and watch them after they air, and advertisers are starting to come around to the concept.