Marketplace Morning Report for Friday June 20, 2014
The Brookings Institution is out with a new report today on foreign-owned businesses in the U.S. We take a look at this snapshot of foreign direct investment – what sort of jobs it represents, and where. Plus, Detroit is getting ready to take a major step toward a new hybrid pension plan aimed at getting the city through bankruptcy. Plenty are watching, including the California state pension system Calpers, which is worried about the precedent Detroit’s changes might set. Also, an unusual program in New York has the unlikely combination of students from tough backgrounds and the watches that wrap the wrists of billionaires and celebrities. Marketplace's Mark Garrison reports from New York in an attempt to save a threatened profession and better the lives of some at-risk young people. Then, there's a new trend taking hold in corporate governance circles...It's called a "benefit corporation." This new class of company lets firms declare that some higher social purpose is as important as profits. The idea has only been around for a few years but a growing number of states now offer it. We investigate.