Week of December 11th, 2017

Will Republicans be able to count this as a big win?

While Republicans in Congress celebrate the final version of the tax bill, we’re asking: How are they going to pay for this thing? The Washington Post’s Catherine Rampell and Rachel Abrams from The New York Times weigh in on that and the week’s economic news. Yesterday’s big regulation rollback was net neutrality; today, Homeland Security said it will end an Obama-era regulation that allowed the spouses of H-1B visa holders to legally work in the U.S. Plus, ’90s kids came of age on AIM, AOL’s instant messaging service, and today it’s shutting down forever. Marketplace’s Reema Khrais tells AIM’s origin story and logs off one last time.   

Fashion writer Elizabeth Holmes fills us in on the quick departure of Diane Von Furstenberg's chief creative officer.

AOL's service primed a generation for the 24-7 social media world we have today.

The National Flood Insurance Program is set to expire on Dec. 22, in a year that's seen more than $100 billion in estimated damages.

A look at the cost of the impact of disasters on mental health — and the people who's job it is to help.

Car's are not the only form of transportation that could benefit from driverless technology.

Let's do the numbers on Starkiller Base.

(Markets Edition) Republicans are still trying to hammer out the details of their tax overhaul, with some concerned about the expiration date for individual tax cuts and who will stay in the top tax bracket. Christopher Low, chief economist at FTN Financial, joined us to talk about how markets are feeling about it. According to them, this tax plan still seems to be on the path for passage, despite reservations from leaders in Congress. Afterwards, we’ll chat with Rico Gagliano and Brendan Francis Newnam from the American Public Media podcast “Dinner Party Download.” They have a new book out called “Brunch is Hell,” which’ll give you the tips you need to throw a successful dinner party. 

As technology changes, so do our daily lives — whether it’s the places we go on the internet, how we pay for goods or how we get from point A to point B. On this week’s show we dive into the future of the internet now that the Federal Communications Commission has rolled back net neutrality, take a look at mental health following disaster and touch on the opioid epidemic. Then, the five questions you always wondered, but were too nervous to ask, about bitcoin. Also, could driverless technology transform how we think about wheelchairs? Plus, Ask A Manager’s Alison Green is back with the secrets to navigating the office holiday party, and all the etiquette involved.

Is it ever appropriate to give your boss a gift? We take your biggest holiday questions and ask a manager.

There's a personal and economic cost.

Marketplace Tech host Molly Wood on the must-knows of the crytpocurrency.

In an internal sales document, Purdue told sales reps to “follow the yellow brick road” and get doctors to prescribe the opioid.

The National Labor Relations Board has overturned an Obama-era ruling that had made it easier for workers at franchise businesses to form unions.

(U.S. Edition) The National Labor Relations Board has overturned a joint-employment standard that was set back in 2015 under Obama. We’ll look at how this decision will make it harder for contractors and workers at franchise businesses to form unions. Afterwards, we’ll discuss the rising number of people who are defaulting on their student loans, and then talk with BBC reporter Karishma Vaswani about the issue of sexual harassment in workplaces around the world.

(Global Edition) From the BBC World Service … A day after plane maker Airbus secured a $12 billion deal from Delta, it announced a change of leadership. We’ll tell you what’s behind the shakeup, which comes amid a series of corruption allegations. Then, ever heard of “The Brussels Effect?” It refers to the regulatory power of the European Union, and we’ll explain why it will matter to Britain as it moves on to phase two of its Brexit negotiations. Afterwards, we’ll take you to Fukushima, where farmers there are still struggling to convince people their food is safe to eat nearly seven years after the nuclear disaster. 

As expected, the Federal Communications Commission voted yesterday to overturn net neutrality, the Obama-era rule that says internet service providers have to treat all content equally on their networks. So what happens next? Marketplace Tech host Molly Wood talks with Tom Merritt, host of the “Daily Tech News Show” podcast, about what this means for the internet and how long it will be before we see changes. 

The Federal Communications Commission rolled back Obama-era regulations today, ruling that internet providers are no longer required to treat all internet content equally. But what will that look like? And the holiday season is officially upon us, so we check in with the people keeping the $400 billion online shopping industry afloat: an item “picker” at a fulfillment warehouse and package deliverers struggling to meet deadlines with volume up 17 percent this year. Plus, we discuss what companies will do with the trillions of dollars in cash that will come rushing back when the corporate tax is cut to 21 percent, and director Errol Morris tells us about his new genre-defying film.

With online shopping now a $400 billion industry, fulfillment centers and warehouses are central to the season.

It's a documentary. It's a period drama. It's a re-enactment. "It's my best something," the director says.

In a 3-to-2 vote, the FCC ruled to roll back net neutrality policy established under the Obama administration.

(Markets Edition) Disney has confirmed it’s buying most of 21st Century Fox, which will give the media conglomerate a major advantage when it comes to sports and streaming. We’ll discuss whether this acquisition could give it what it needs to take on the likes of Netflix. Afterwards, we’ll look at what Fed Chair Janet Yellen had to say about the GOP’s tax overhaul and its potential effects on the economy. Plus: How some companies are canceling holiday parties amid the news of sexual harassment scandals. 

The Walt Disney Company is buying 21st Century Fox assets in a deal worth more than $52 billion.

Amidst news of sexual harassment scandals, some companies are canceling holiday parties while others limit alcohol or hire monitors to patrol the party.

(U.S. Edition) With Disney set to purchase 21st Century Fox assets for more than $50 billion, we’ll look at the company’s rationale for the deal and the antitrust problems that this merger could pose. Afterwards, we’ll discuss what the GOP’s tax overhaul — which Republicans in both the House and Senate have forged a deal on — could mean for taxpayers. Finally, we’ll chat with Marketplace’s Molly Wood about what the FCC’s roll back of net neutrality could mean in the long-term. 

(Global Edition) From the BBC World Service…the U.S. Federal Reserve voted to raise interest rates on Wednesday, but two more important central bank decisions are happening Thursday. We’ll explain why inflation is top of mind for two key European banks. Then, before net neutrality became a divisive issue in America, it was the subject of much debate in India. We’ll explore why the nation’s regulator favored equal treatment of Internet users. Afterwards, the “Me, too” movement shined a glaring spotlight on sexual abuse —now a new campaign in the U.K. hopes to change the law on one form of abuse still in the shadows. 

Los Angeles is in its second week of trying to contain the Thomas fire that has spread through two counties. Millions of acres have burned across the U.S. this year, and one fire killed 44 people and destroyed thousands of homes and businesses in California wine country in October. What role is technology playing in preventing harm from wildfires? Marketplace Tech host Molly Wood talks with Brandon Collins, a research scientist at UC Berkeley’s Center for Fire Research and Outreach, about fire prevention technology – and its limits. 

A Berkeley lab is using drones and LiDAR to map fire fuel and understand how it burns.

“Delayed absorption as provided by OxyContin tablets, is believed to reduce the abuse liability of a drug.” That’s a sentence from OxyContin’s original label, and after months of investigation, Marketplace podcast The Uncertain Hour has found it an important factor in setting off the opioid crisis. And today we break down Janet Yellen’s last news conference and review the deal the House and Senate struck to move the tax bill along. Plus, deep dives into how 100-year-old magazine publisher Condé Nast is keeping up with millennials and how a Texas community is struggling to find temporary housing after the most expensive Atlantic hurricane season in U.S. history.

Rockport residents are living in temporary housing miles away, hurting the city's workforce and tax base.

Dawn Ostroff is President of Condé Nast Entertainment and she's charged with getting the publisher to think beyond magazines.

It's a third time this year that the Fed has increased interest rates.

President Dawn Ostroff explains how video franchises like "73 Questions" are made.

Filmmaker Hajar al-Naim explains what the lift could mean for women and talks about the the first time she entered a movie theater.

(Markets Edition) The president of the National Federation of Independent Business says small businesses are feeling very optimistic right now, in large part because of the GOP’s planned tax overhaul. However, John Arensmeyer — CEO of the Small Business Majority — stopped by to explain why not all of them are happy. Afterwards, we’ll chat with Susan Schmidt, senior portfolio manager at Westwood Holdings Group, about what the forecast for interest rate hikes looks like. Then to cap off today’s show, we’ll talk about some of the concerns that have been raised over the GOP tax overhaul’s quick race to the finish line. While the last big tax plan in 1986 took two years, the current overhaul has taken about two months. 

The FCC is expected to vote to eliminate net neutrality. We talked to the chairman about what the internet might look like if that happens.

(U.S. Edition) The House and Senate are trying to bolt their tax plans together amid pressure from the White House to get this done before Christmas. We’ll take a look at where both chambers stand after negotiations last night. Afterwards, we’ll talk to Marketplace producer Caitlin Esch about the opioid crisis as part of our “Uncertain Hour” podcast. Between 1995 and 2015 alone, 300,000 people died from overdoses involving OxyContin and other opioids. Esch explains how one sentence helped set the crisis off. 

(Global Edition) From the BBC World Service … A major deal is underway in the media industry with 21st Century Fox in talks to sell its entertainment assets to Disney. We explain what that means for customers worldwide. And a more than three-decade ban on commercial cinemas is coming to an end in Saudi Arabia. We chat with a filmmaker in the region who says the move will create a Saudi film industry that could change the entire culture there. 

Tomorrow, the Federal Communications Commission will vote on whether to eliminate net neutrality rules. Those regulations were created under the Obama administration, and prevent internet service providers like Verizon or Comcast from favoring certain content over others. The current FCC says companies should be able to do what they like, as long as they are transparent about it. This is controversial, and the public comment system on the FCC’s proposed rules was overtaken by spam and fake accounts. Democrats, consumer groups, and even a few Republicans have called for the vote to be postponed. But FCC chairman Ajit Pai is leading this charge—and plans to go ahead.

It’s a highly misleading claim. It came with every bottle of Oxycontin for years. The FDA signed off on it, but it’s not clear who wrote it.

Recently unsealed documents shed light on how the maker of OxyContin seems to have relied more on focus groups than on scientific studies to create an aggressive and misleading marketing campaign that helped fuel the national opioid epidemic.

Is empirical analysis dead? We ask Politico's Ben White.

There's a marriage divide in the US that's leaving many working-class and poor kids "doubly disadvantaged," a researcher says.

In the aftermath of CVS’ $69 billion deal to buy health insurance giant Aetna, the company wants to turn its MinuteClinics into health care hubs where people can get even more of their basic needs met. But what would it take for this to happen? And since we can’t go one day without talking taxes, we discuss the Treasury Department’s one-page analysis of the bill with Politico’s Ben White. Plus, President Donald Trump signed a bill granting nearly $700 billion in military spending today, Europe’s largest commercial landlord is buying mall operator Westfield for $16 billion, and marriage is half as common for low-income couples as it is for middle- and upper-class adults, making us wonder: What’s the effect on children?  

With access to Aetna's 47 million customers, CVS wants to transform its stores into "health care hubs."

In 1907, a small group of automobile enthusiasts wanted to see if it was possible to race from China to France.

Anonymous super PACs have poured millions of dollars into advertising on both sides.

(Markets Edition) Lawmakers are meeting tomorrow in the hopes of reconciling the House and Senate versions of the tax bill. We’ll recap some of their key differences, which include controversy over state and local tax deductions. Afterwards, we’ll discuss why stores still see a need for glossy catalogs, and then look at where both Amazon and Walmart stand in the retail war.

The president of the National Federation of Independent Business says the last time the mood was this upbeat was right before the Reagan expansion.

(U.S. Edition) Not many people are on board with the GOP’s plan to overhaul the tax system. Less than a third of Americans like it, according to several polls —  including one from Reuters. But there is one group that’s excited about it: small businesses. Juanita Duggan, president and CEO of the National Federation of Independent Business, explains why. Afterwards, we’ll look at how countries outside of the U.S. are reacting to the plan. Germany, the U.K., France, Spain and Italy say parts of the emerging tax plan could violate World Trade Organization rules. Then we’ll move to the higher education system, where we’ll explore how the tax bill could impact students.

(Global Edition) From BBC World Service … Two years after the Paris climate accord was signed, how much progress has been made? French President Emmanuel Macron thinks President Trump will bring the U.S. back into the deal. Influential think-thank The Rand Corporation is predicting any break with the European Union will hurt the British economy. But they say there is one outlying scenario which could bring benefits to the U.K., EU and the U.S. Plus: Would you like to receive $665 per month for doing absolutely nothing? We hear from Finland, where Universal Basic Income is being trialled.

What would city-provided internet look like? And how much would it cost?

The FCC is poised to overturn net neutrality this week. Part of that conversation is about competition – what if an internet provider becomes too expensive or provides poor service? San Francisco, Seattle, and Boston are promising municipal broadband as an alternative. What would that look like and how much would it cost? On this episode of Marketplace Tech, Molly Wood talks with Christopher Mitchell, director of Community Broadband Networks for the Institute for Local Self-Reliance, a nonprofit that advocates for sustainable community development.

We’ve all heard bitcoin is volatile, risky, quite possibly a bubble. So why then the demand for bitcoin futures? We take a look at what happened during yesterday’s bitcoin futures trading launch. And in Saudi Arabia, a ban on movie theaters has been lifted, ushering in what is predicted to be a $24 billion cinema industry to offset the economy’s dependence on oil. Plus, the Environmental Protection Agency adds 21 new Superfund sites, public and private entities alike are scrambling to add more electric charging stations, especially in the American West, and the Trump administration is trying to take credit for killing regulations that are already dead.

And counting them as a victory, Alan Levin of Bloomberg says.

Texas A&M University will start training doctors and nurses to also be engineers.

Charging electric vehicles in 2017 can still be a hassle, and it leads some to rethink their purchase. Here’s how the industry, and even some government entities, are trying to address that.

(Markets Edition) The Fed will likely raise interest rates before the end of 2017, the third increase this year. Julia Coronado, founder of MacroPolicy Perspectives, stopped by to discuss what else we should expect from the upcoming Fed meeting, given that it’ll be Janet Yellen’s last as the chair. Afterwards, we’ll talk about Volkswagen’s surprising statement that Germany should phase out diesel subsidies, then look at how one rural Alaska village is establishing a reindeer herd to improve the community’s diet and boost its economy.

We put your burning holiday questions to Ask a Manager's Alison Green.

Since November of last year, the number of involuntary part-time workers dropped by 858,000.

Department store credit cards, which tend to have high interest rates, have fallen out of fashion. But for some with bad credit, they are the only option.

(U.S. Edition) The first-ever Bitcoin futures began trading last night, which saw big price swings within minutes. On today’s show, discuss what futures trading means for the cryptocurrency and investors. Afterwards, we’ll examine why the Fed is looking at an interest rate hike this week, and the potential pitfalls of that decision. Plus: We look at how one 21-year-old student from Puerto Rico is handling her move to Florida after Hurricane Maria.   

More than 190,000 people have left the island for Florida since the hurricane, including 20-somethings looking for better opportunities.

(Global Edition) From the BBC World Service…Enthusiasm pushed the price of bitcoin futures up in their trading debut on the Chicago Board Options Exchange. But what does that mean for what many are calling a crypto-currency bubble? Then, we explain the link between Legos and blockchain, the technology underpinning bitcoin. Afterwards, we talk about why global arms sales have risen nearly 2 percent.

The isolated village of Port Heiden hopes reindeer, and a few other farm animals, may be the answer to expensive imported fresh food.

And is the bubble going to be dangerous when it pops?

Bitcoin’s price soared to more than $15,000 last week. And as of yesterday afternoon, investors can trade bitcoin futures on a major public market — the Chicago Board Options Exchange. What’s behind the cryptocurrency’s incredible rise? And what will happen when it falls? Marketplace Tech host Molly Wood talks with Kevin Werbach, a professor at the University of Pennsylvania’s Wharton School about the sensational rise of bitcoin and what could happen when the bubble bursts.

China announced new measures that will give foreign banks and investors more ownership control over their operations in the country.