May 16, 2012

Marketplace Morning Report for Wednesday, May 16, 2012

There are new concerns this morning of a banking crisis in Greece, after the country's political parties failed to come together and form a coalition government. Vice President Biden will be in Youngstown, Ohio today touting the bailout of the auto industry -- which he and his ticket mate Obama are hoping will help in their re-election campaign. This week's Facebook IPO could mean big things for the California state budget. And in Atlanta this morning, the world's busiest airport welcomes its first passengers to a brand-new, $1.4 billion international terminal.

Segments From this episode

The Real Economy

Democrats campaign on auto bailouts

by Mitchell Hartman

May 16, 2012

Vice President Biden is in Ohio to tell voters the bailouts brought back jobs to the state.

Greek Debt Crisis

Fears of bank runs on the rise in Greece

by Jeremy Hobson

May 16, 2012

New elections are scheduled for June 17th in Greece, but that may not be soon enough to calm fears at Greek banks. Almost a billion dollars worth of deposits was withdrawn on Monday alone.

FBI investigating JPMorgan for criminal behavior

by Gregory Warner

May 16, 2012

The FBI is investigating possible criminal behavior at JPMorgan Chase after that $2 billion trading loss disclosed by the bank the other day.

JC Penney stock falls after big quarterly loss

by David Brancaccio

May 16, 2012

JC Penney stock is currency down percent after the company reported that customer traffic is down, sales are down, and the quarterly loss was bigger than expected. The company had hired Ron Johnson, the man behind Apple Stores, to make JC Penney more fashionable.

Atlanta's new air terminal ready for takeoff

by Jim Burress

May 16, 2012

The world's busiest airport gets a new $1.4 billion international terminal. But Atlanta airport officials want to avoid mass chaos on opening day.

California budget to benefit from Facebook IPO

by Marketplace Contributor

May 16, 2012

California Gov. Jerry Brown recently informed Californians that the state was $16 billion in the hole, instead of the mere $9 billion everyone expected. The Facebook IPO will generate a lot of taxable income for a few thousand Californians.

BBC World Service

Greek citizens pulling money from banks

by David Brancaccio

May 16, 2012

With a new general election on the way in Greece and the country's membership in the European Single Currency in the balance, people in Greece are trying to keep their bank accounts from losing value if ever the euro is dropped. Greece's central bank chief says depositors pulled about $900 million about of bank accounts Monday alone.

What makes a movie?

by Stacey Vanek Smith

May 16, 2012

These days, a well-established brand can be as valuable as a screenplay. At least that's what the makers of the movie "Battleship" are hoping when the film version of the popular board game opens this weekend.

unloveablesteve / Creative Commons

New home construction up 30% from last year

by Marketplace Contributor

May 16, 2012

Housing starts, as they're called, were up 2.6 percent last month, and compared with last April, home construction was up almost 30 percent.

Mid-day Update

GM pulls out of Facebook advertising

by David Brancaccio and Jeremy Hobson

May 16, 2012

Just days before Facebook stock trades publicly for the first time, General Motors is giving no official reason for the decision but published reports suggest the ads aren't having the impact GM hoped.

Mid-day Update

PODCAST: Facebook helping California, construction helping housing

by Mary Dooe

May 16, 2012

There are new concerns this morning of a banking crisis in Greece, after the country's political parties failed to come together and form a coalition government. This week's Facebook IPO could mean big things for the California state budget. And in Atlanta this morning, the world's busiest airport welcomes its first passengers to a brand-new, $1.4 billion international terminal.

A construction worker carries lumber while working on new homes at the Arbor Rose housing development on March 20, 2012 in San Mateo, Calif.

Justin Sullivan/Getty Images

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There are new concerns this morning of a banking crisis in Greece, after the country’s political parties failed to come together and form a coalition government. Vice President Biden will be in Youngstown, Ohio today touting the bailout of the auto industry — which he and his ticket mate Obama are hoping will help in their re-election campaign. This week’s Facebook IPO could mean big things for the California state budget. And in Atlanta this morning, the world’s busiest airport welcomes its first passengers to a brand-new, $1.4 billion international terminal.