Week of June 25th, 2018

The company's vice president of design left fashion for his "ultimate childhood dream" of working with the plastic bricks.

Host Lizzie O'Leary wraps things up by taking the Marketplace Quiz.

Job descriptions are a bigger deal than you may think.

A Twitter thread about the rise of Uber and Lyft in New York City.

On this final episode, we talk storm chasing, rent-to-own housing and disability and hiring.

Ask a Manager’s Alison Green explains how to plan for time off.

(Markets Edition) Almost all the major banks passed the Fed’s stress test, which is used to gauge how they’d fare in a crisis. The exception: Deutsche Bank. We’ll talk to Julian Emanuel, chief equity and derivatives strategist at BTIG, about how the markets are thinking about those results. Afterwards, we’ll recap the factors that led to Toys ‘R’ Us’ bankruptcy and how its workers are now pushing for severance pay, and then we’ll discuss the launch of Instagram Lite — a slimmed down version of the social media platform. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and Pitney Bowes (PB.com/morning). (06/28/2018)

The Supreme Court's decision in Janus v. AFSCME disproportionately impacts public sector African-American workers.

(U.S. Edition) Voters in Mexico are headed to the polls this Sunday to pick a new president. The frontrunner? Andrés Manuel Lopez Obrador. We’ll look at the platform he’s running on and how he plans to take the country in a very different direction than President Enrique Peña Nieto. Afterwards, we’ll talk to PayPal CEO Dan Schulman about how different Americans’ financial experiences can be, especially those from underserved communities. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and Pitney Bowes (PB.com/morning). (06/28/2018)

(Global Edition) From the BBC World Service … President Trump is expected to announce this weekend whether he’ll restrict Chinese investment in American technology. If there’s a big clampdown, what’s at stake for Beijing’s Made in China 2025 manufacturing program? Then, Mexico is the second-largest economy in Latin America. Elections are set for Sunday and there are both hopes and fears around what the leftist presidential front-runner might do to the economy. Afterwards, the carbon dioxide shortage has been a concern for World Cup watchers who want to enjoy the games with a glass of cold beer. But it’s also become a problem for poultry and pig farmers and the companies that package meat for consumers. We’ll talk to one farmer about how she’s dealing with the shortage. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and Pitney Bowes (PB.com/morning). (06/28/2018)

"We really need to step up as companies," CEO Dan Schulman says.

To combat fake ads and news, we need to study their effects more, says Tom Merritt of Daily Tech News Show.

Facebook announced tools yesterday that show who bought ads, where they’re running and that give more information about branded pages to help people determine if they’re real. That’s on top of tools from April for tracking political and issue ads. But is it enough? The tracking tools don’t let you see who’s being targeted by ads, and advertisers themselves are worried that the tools will let their competitors see what they’re running and respond in real time. It’s our topic for Quality Assurance, where we take a second look at a big tech news story of the week. Marketplace Tech host Molly Wood talks with Tom Merritt, the host of the podcast Daily Tech News Show. 

Designers, architects and the president of IKEA U.S. weigh in.

A growing industry is offering a front row seat to extreme weather.

"At the moment none of us know what the future holds."

Turns out, they kind of can. You just have to watch the yield curve. And if you don’t know how to do that, listen up, because on today’s show we break it down and talk about why economists are worried about a possible recession with employment this high and an economy so healthy. Another tip: You can predict the future by listening to changes in foreign direct investment. Plus, renting to own was the strategy for many investors after sweeping up thousands of foreclosed homes during the financial crisis. It was an easy solution for sellers, but what was the real cost for the tenants? And the latest installment of My Economy comes to us from across the pond. Then, a special announcement: Hosts Kai Ryssdal and Molly Wood have been having secret conversations with a voice-control system you may have heard of named Alexa.

In her new book, Alissa Quart examines the lives of middle-class families struggling to get by.

Will this be the catalyst for big pharmaceutical companies to get into the pot business?

(Markets Edition) GDP figures in the first-quarter of this year were pretty lackluster, and were actually even revised downward according to an announcement today. But we can anticipate better economic growth during the second quarter. Diane Swonk, chief economist at Grant Thornton, stopped by to explain why it’s expected to accelerate. Afterwards, we’ll look at what the Trump administration’s tariffs on cars produced in Europe could mean for auto sales, and then we’ll talk to Harvard professor Benjamin Sachs about how the Supreme Court’s ruling on union is analogous to the government deciding that tax payments are voluntary. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/28/2018)

Corporate anthropologists work on everything from company culture to marketing research that helps companies understand customers better.

"I think we are more listeners — I'm more of a listener. I lead very loosely, kind of from the side."

"What would happen is fewer people would pay their taxes and the ability of government to provide services would then erode," says Harvard professor Benjamin Sachs.

(U.S. Edition) The Supreme Court ruled yesterday that unions can’t collect fees from non-union members in the public sector, but this decision could still have implications for the private sector. We’ll look at the relationship between these private-sector unions and the organization of government workers. Afterwards, as part of a series of interviews we’re conducting at the Aspen Ideas Festival, we’ll talk to designer Eileen Fisher about the differences between startups run by women and ones run by men. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/28/2018)

(Global Edition) From the BBC World Service…German Chancellor Angela Merkel says she is listening to concerns from around the European Union about migration. But, as European leaders meet today in Brussels, she faces a tough task trying to get countries to agree on a common policy. We break down the issues at the heart of  European politics and migration. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/28/2018)

China's Made in 2025 plan is big. Should the America be worried?

The Trump administration this week decided against the hard trade restrictions it had been considering against China, but it’s still planning on new tariffs on Chinese goods. Treasury Secretary Steve Mnuchin made it clear the government would aggressively protect the U.S. tech industry. Meanwhile, China is working on building up its own advanced tech economy, one that doesn’t rely on the United States or anyone else. Marketplace’s Molly Wood talks with our China correspondent Jennifer Pak about the Chinese government’s tech initiative called Made in China 2025. (06/28/2018)

The Irish capital is hoping to draw in firms fleeing post-Brexit London.

Austerity, grit and flexibility helped get the country's economy back on an even keel.

Seems like every story in the news this week begins and ends at the Supreme Court. Justice Anthony Kennedy announced his retirement today, of course, but we’re focusing on the ruling that public-sector labor unions can no longer collect fees from nonmembers. So if you are not a union member, what does this mean for you? And because of this ruling, more than 20 states will have to change their labor laws. We talk about how these states will move forward. Plus, New York City has never been more safe, clean, healthy … or rich. So how has mega-wealth changed the city and its potential?

(Markets Edition) After a lackluster start of the week for the markets, they seem to be back up this morning. We’ll hear from Jay Bryson, managing director and global economist at Wells Fargo, about how America’s attempts to de-escalate its trade fight with China have played a role in this, and what to expect from the release of this week’s second-quarter GDP numbers. Afterwards, we’ll look at the significance of the Supreme Court case Janus v. AFSCME, which will decide whether government workers who aren’t in unions have to pay union fees. Plus: We take a break to go across the pond and explore whether technology can help address issues on the Northern Irish border. Today’s podcast is sponsored by Indeed (Indeed.com/marketplace), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/27/2018)

The justices are scrapping a decision that had allowed states to require that public employees pay some fees to unions that represent them, even if the workers choose not to join.

(U.S. Edition) India’s the latest country to be embroiled in trade negotiations with the U.S. And like so many other countries, they’re threatening retaliatory tariffs. Companies are reacting by announcing plans to move production overseas, but what does it mean to make a shift like that? We’ll look at the challenges that come with shaking up your supply chain. Plus: Marketplace Morning host David Brancaccio is at the Aspen Ideas Festival this week, interviewing prominent business leaders and officials in the country. Our first conversation is with Makan Delrahim, assistant attorney general of the U.S. and chief of the Justice Department’s Antitrust Division. He joined us to talk about the Justice Department’s losing bid to block the AT&T-Time Warner merger, along with other antitrust cases. Today’s podcast is sponsored by Indeed (Indeed.com/marketplace), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/27/2018)

Could technology help prevent bottlenecks on the EU-U.K. border?

U.S. trade tensions with China are very much about technology. The Trump administration is set to roll out new restrictions this week on Chinese tech investments in the United States and possibly more tariffs in areas like robotics, aerospace and green tech. That’s on top of the new 25 percent tariff, set to take effect on July 6, on other Chinese imports, many of them tech related. The United States says the taxes are punishment for intellectual property theft and forced technology transfer — the idea being that American companies must share tech secrets with Chinese companies in order to do business there. Jennifer Pak is Marketplace’s China correspondent based in Shanghai, and she recently attended a consumer electronics show there. She told Marketplace Tech host Molly Wood what Chinese manufacturers were saying about the tariffs. (06/27/2018)

Makan Delrahim talks about the Justice Department's losing bid to block the AT&T-Time Warner merger, along with other antitrust cases.

Escalating trade tensions could cause consumer prices to rise.

(Global Edition) From the BBC World Service … trade officials from India and the U.S. are meeting in Delhi today to try and avoid a tit-for-tat situation on duties. Then, are the leaders of the “nation of shopkeepers” at war with business? Two unlikely bedfellows today signed a joint letter urging the British government to speed up Brexit negotiations as businesses begin to ring the alarm bells even louder on the consequences of a no-deal scenario.  Afterwards, while political uncertainty in Turkey has diminished after President Erdogan’s victory over the weekend, one big issue for the country’s economy  — aside from foreign investment and low interest rates – is its 3.5 million Syrian refugees. Today’s podcast is sponsored by Indeed (Indeed.com/marketplace), Michigan Economic Development Corporation (planetm.michiganbusiness.org), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/27/2018)

A startup called Vantage Point thinks virtual reality can make training much better.

Co-creator Jonathan Nolan talks about keeping timelines straight and not dumbing things down for the audience.

(Markets Edition) We have trade drama on one hand, strong economic growth on the other. What’s a market to do? We’ll talk to David Kelly, chief global strategist at JP Morgan Funds, about the long-term consequences of trade tension. Afterwards, we’ll look at the rising number of Americans who are taking on a side hustle, and then we’ll explore how the border between Northern Ireland (which is part of Britain) and the Irish Republic (which is staying in the European Union) is creating a big problem for Brexit. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/26/2018).

Silicon Valley's housing market is so hot, a house that caught on fire sold for almost a million dollars. That's driving more and more Californians east.

The border between the Republic of Ireland and the U.K. province of Northern Ireland is a big Brexit sticking point.

(U.S. Edition) Major market indices closed down yesterday under the president’s trade rhetoric, but the economy, generally, is in pretty good shape right now. We’ll check in with experts about whether they’re still optimistic about the economy’s expansion. Afterwards, we’ll look at how a lack of industrial CO2 is causing food and beverage production issues in Europe, and then we’ll explore how Fortune 500 companies are actually among the largest employers of anthropologists. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/26/2018).

(Global Edition) From the BBC World Service … Jitters over the U.S.-induced global trade war and worries over a looming slowdown in American growth is continuing to hit global stock markets, but now one investor says it may be time to ditch the dollar and head for alternative currency safe havens. Then, we take a look at what countries top a new list of cities with high cost-of-living prices. Afterwards, the European CO2 shortage is hurting more than just beer producers — it’s now posing a real concern for poultry and pork farmers who are rushing to find safe and humane slaughter alternatives. Today’s podcast is sponsored by Alliance for Lifetime Income (retireyourrisk.org/advisors), Indeed (Indeed.com/marketplace), and the University of Utah David Eccles School of Business (utahmbaonline.com). (06/26/2018).  

The Department of Defense is expected to send a report on the structure of the proposed sixth branch of the military by August.

President Donald Trump has directed the Pentagon to create a sixth branch of the military called the Space Force. It was proposed last year as part of the budget for the Department of Defense. A DOD report to Congress in March said that “space has become a warfighting domain.” Right now, for example, the military has its eyes on Russian or Chinese missiles and whether they could cripple telecommunications satellites. The Air Force has lobbied against a Space Force, and Congress hasn’t authorized it. Marketplace Tech host Molly Wood talked with Kimberly Adams, our resident space expert, about what exactly Trump’s directive means. (06/26/2018)

Organized labor in Nevada is holding its own, in spite of right-to-work rules that ban charging fees to nonunion members — something the Janus case might lead to for public-sector unions nationwide.

Succession planning is tricky when the plan involves never dying.

(Markets Edition) With tensions between China and the U.S. escalating, the markets have opened down this morning. We’ll hear from Julia Coronado, founder of MacroPolicy Perspectives, about how the fight isn’t just about tariffs now: Trump wants to curb Chinese investment in U.S. tech firms. Afterwards, we’ll look at the type of gasoline that companies sell to drivers during the summer (a product that uses a mix of different ingredients and is more expensive to produce), and then we’ll talk about how contractors are starting to invest in cultural sensitivity training. Today’s podcast is sponsored by Battelle (Battelle.org/QI), Indeed (Indeed.com/marketplace), and Michigan Economic Development Corporation (planetm.michiganbusiness.org) (06/25/2018).

(U.S. Edition) Turkey’s president, Recep Tayyip Erdoğan, has beat expectations to win Sunday’s elections. In the aftermath, we’ll look at the state of the country’s economy and what prompted voters to elect him. Afterwards, we’ll look at the legacy that Starbucks CEO Howard Schultz leaves behind as he steps down from the position, and some of the challenges his successor will need to tackle. Plus: With the FDA set to approve an epilepsy medication made from an ingredient found in cannabis, we’ll explore whether this will give big drugmakers a reason to take a closer look at the drug. Today’s podcast is sponsored by Battelle (Battelle.org/QI), Indeed (Indeed.com/marketplace), and Michigan Economic Development Corporation (planetm.michiganbusiness.org) (06/25/2018).

(Global Edition) From the BBC World Service … It’s an apparent victory for Turkey’s president after voters cast ballots in an early election Sunday. But as the country’s leader looks to consolidate power – what will it mean for the economy, which is already suffering from high inflation and a depreciating currency? Then, a British court this week will weigh whether Uber is “fit and proper” to hold an operator license in the capital city after Transport for London refused to renew it last September. Afterwards, a feeling of freedom – that’s how one woman describes her emotions after a ban on female drivers was lifted in Saudi Arabia Sunday, allowing her to get behind the wheel and take herself home from work for the very first time. Today’s podcast is sponsored by Battelle (Battelle.org/QI), Indeed (Indeed.com/marketplace), and Michigan Economic Development Corporation (planetm.michiganbusiness.org) (06/25/2018).

VidCon has been around since 2010 and if you haven’t heard of it, ask a teenager. The conference for online video creators and their fans was held this month in Anaheim, California. It’s the first major event since Viacom bought the conference last year. That purchase made the “creator economy” officially mainstream. And with that status comes a more Hollywood-style vibe. TV execs, talent scouts and advertisers were all over the show. And there’s a big conversation about how creators can move past the biggest game in town —YouTube. Jim Louderback, the general manager of VidCon, spoke with Marketplace Tech host Molly Wood about how the event has changed since it started eight years ago. (06/25/2018) Correction (June 25, 2018): A previous version of this podcast description misstated Jim Louderback’s title. The text has been corrected.

The popular online video conference is trying to highlight other platforms, like Twitch and LinkedIn.