Mar 19, 2012

Marketplace Morning Report for Monday, March 19, 2012

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We're on the phone with Marketplace Shanghai Bureau Chief Rob Schmitz to talk about the fallout following his investigative report that led to this weekend's retraction on the radio program This American Life. Schmitz explains that while Mike Daisey lied about his first-hand account visiting factories in China for his stage play and radio story, many of the things he lied about have actually happened. Meanwhile, a debate in the Senate this week over extending the life of Export-Import Bank has aircraft maker Boeing in a tustle.

Segments From this episode

Showdown over the future of Yahoo!

Mar 19, 2012
A hedge fund investor with a 6 percent stake in Yahoo! is demanding to take over a block of seats on the Internet giant's board of directors.

Egypt asks IMF for $3 billion loan

Mar 19, 2012
After turning down a similar package in June, Egypt goes back to the International Monetary Fund for help as its economy weaken and interest rates increase.
A view of the Egyptian stock exchange building in central Cairo.
MARCO LONGARI/AFP/Getty Images

Daisey lied, but factory working conditions in China still lag

Mar 19, 2012
Mike Daisey made up the details of his first-hand account of dismal working conditions at Apple factories in China for his stage play and the radio program This American Life. But for workers in China, the issues are real.

With unemployment at 14 percent, the Irish look for work abroad

Mar 19, 2012
More than a year after Ireland received a bailout, unemployment in the country has risen to more than 14 percent, and nearly 1,500 people leave the Emerald Isle every week to look for work.

UPS buys Dutch shipping rival for $6.8 billion

Mar 19, 2012
The U.S. shipping giant said Monday it will acquire Europe's No. 2 delivery company, TNT Express, in effort to expand its global reach.

Congress fights over Export-Import Bank funding

Mar 19, 2012
Some senators want to beef up funding to help exporters promote their wares overseas, but airlines say that only helps foreign competitors buy aircraft more cheaply than domestic airlines.

How to spend a $100 billion: Ask Apple

Mar 19, 2012
Apple earns only about 1% interest by hoarding its pile of cash reserves. Today, it announced how it would start earning investor love with a stock buyback and dividends.

Apple to buy back $10 billion stock, pay dividend

Mar 19, 2012
Apple CEO Tim Cook said in a conference call today it would start spending down its nearly $100-billion pile of cash with a $10 billion share buyback and a quarterly stock dividend of $2.65 a share.

Greek PM: We're on our way to economic recovery

Mar 19, 2012
Lucas Papademos says the majority of Greeks are knuckling down to the agreed budget cuts and economic reforms as the country's second financial bailout sets in.

Wall Street firms may rent out Fannie foreclosures

Mar 19, 2012
Some of Wall Street's biggest firms want to bid on pools of foreclosed properties being sold by Fannie Mae to rent them out. What does that mean for investors and how might it affect homeowners?
A foreclosure/price reduced sign stands in front of a home for sale in Miami, Fla.
Joe Raedle/Getty Images

Podcast: Apple's $100 billion plan, and UPS goes shopping

Apple CEO Tim Cook said in a conference call today that the company would start spending down its nearly $100-billion pile of cash with a $10 billion share buyback and a quarterly stock dividend of $2.65 a share. We talk to Henry Blodget, CEO of Business Insider, for more on this story. Shipping giant United Parcels Service said it would pay $6.8 billion for Dutch shipping rival TNT Express in effort to expand its global reach. Plus, Ireland struggles with 14 percent unemployment, Greece's prime minister said the company is on its way to a recovery, and Yahoo! fends off an aggressive investor.
Apple CEO Tim Cook introduces the third version of the iPad and an updated Apple TV in San Francisco. Today, Cook announced plans on how the company would spend its $98 billion in cash reserves.
Kevork Djansezian/Getty Images

We’re on the phone with Marketplace Shanghai Bureau Chief Rob Schmitz to talk about the fallout following his investigative report that led to this weekend’s retraction on the radio program This American Life. Schmitz explains that while Mike Daisey lied about his first-hand account visiting factories in China for his stage play and radio story, many of the things he lied about have actually happened. Meanwhile, a debate in the Senate this week over extending the life of Export-Import Bank has aircraft maker Boeing in a tustle.

The team

Stephen Ryan Producer, BBC

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