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Marketplace Morning Report for Monday June 2, 2014
Jun 2, 2014

Marketplace Morning Report for Monday June 2, 2014

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On Monday, the Seattle city council votes on a $15 minimum wage. The deal was hammered out by business, labor and community leaders. The resolution creates the Minimum Wage Commission to oversee the law's implementation. We look at this unique test case for low-wage workers. Plus, now that housing prices have recovered in most regions, homeowners are once again pulling equity out of their houses with re-financings, and banks are revving up the second-mortgage biz, also known as home equity lines of credit. Also, we talk to Erin McElroy, an anti-gentrification activist in San Francisco who co-founded the Anti-Eviction mapping project that uses data visualization to track how wealth has displaced tenants in the Bay area. Then, why do Southern states in particular seem so eager to subsidize private development with public dollars? Despite overwhelming public opposition, Cobb County, Ga. commissioners voted to sink $300+ million taxpayer dollars into a new Atlanta Braves stadium. Meanwhile, Gov. Nathan Deal touts Georgia’s designation from “Site Selection Magazine” as the top state in which to do business, in part because of generous public incentives. Experts say the South gives away the store more eagerly than other regions because of history. Southern states invented modern economic development incentives during Reconstruction, when they were desperately courting financiers to rebuild the region's devastated industrial capacity. It became a habit, and then a vicious cycle.

 

Segments From this episode

The South is more likely to hand out corporate subsidies

Jun 2, 2014
The Atlanta Braves' new stadium will be funded in large part by taxpayer dollars.

Businesses in Seattle advocate for higher minimum wage

Jun 2, 2014
Seattle expected to approve $15 minimum wage, the highest for any large U.S. city

As home prices recover, banks resume offering HELOCs

Jun 2, 2014
HELOCs, a form of second mortgage, are waking up from hibernation. And they're hungry.

EPA gives states flexibility in cutting carbon emissions

Jun 2, 2014
More on the EPA's aim to cut power plants' carbon emissions 30% by 2030

PODCAST: The EPA cuts emmissions; Seattle raising minimum wage

Jun 2, 2014
More on the EPA's new rule, Seattle's $15 minimum wage, and why HELOCs (a form of second mortage) are on the rise

On Monday, the Seattle city council votes on a $15 minimum wage. The deal was hammered out by business, labor and community leaders. The resolution creates the Minimum Wage Commission to oversee the law’s implementation. We look at this unique test case for low-wage workers. Plus, now that housing prices have recovered in most regions, homeowners are once again pulling equity out of their houses with re-financings, and banks are revving up the second-mortgage biz, also known as home equity lines of credit. Also, we talk to Erin McElroy, an anti-gentrification activist in San Francisco who co-founded the Anti-Eviction mapping project that uses data visualization to track how wealth has displaced tenants in the Bay area. Then, why do Southern states in particular seem so eager to subsidize private development with public dollars? Despite overwhelming public opposition, Cobb County, Ga. commissioners voted to sink $300+ million taxpayer dollars into a new Atlanta Braves stadium. Meanwhile, Gov. Nathan Deal touts Georgia’s designation from “Site Selection Magazine” as the top state in which to do business, in part because of generous public incentives. Experts say the South gives away the store more eagerly than other regions because of history. Southern states invented modern economic development incentives during Reconstruction, when they were desperately courting financiers to rebuild the region’s devastated industrial capacity. It became a habit, and then a vicious cycle.

 

The team

Stephen Ryan Producer, BBC