After its disappointing IPO, Facebook releases its first ever earnings report today. Bankrupt cities across the nation are turning to drastic measures — some are walking away from their financial obligations. The ice sheet on the surface of Greenland is melting at an unprecedented rate. College campuses across the nation are revamping their gyms into state of the art fitness centers to woo prospective students, and it’s proving to be costly. Credit card companies once said that the Credit Card Accountability Act would destroy profits, but now some are praising it. And Tess Vigeland talks to Virginia Sole-Smith about her article on Mary Kay Cosmetics and its ‘Pink Pyramid Scheme.’

Incarceration rates have skyrocketed in the last 30 years, especially in New Orleans. Shereen Marisol Meraji reports on how jail time has now become a poverty creator. A number of startups in Mexico are using technology to bridge the gap between rich banks and poor customers. Both President Obama and Mitt Romney are sending out sweepstakes offers to meet celebrities for a small donation. Freakonomics Radio’s Stephen Dubner talks about what effect the Olympic Games really have on its host city. And Tess Vigeland talks to Ryan Holiday, the author of “Trust Me, I’m Lying: Confessions of a Master Media Manipulator.”

This year, President Obama, Mitt Romney and the super PACs supporting them are expected to air millions of dollars worth of ads during the Olympic Games. In the U.S., there’s a new report out today that says home prices have actually risen, but banks aren’t ready to start increasing their loans to homebuyers. Manufacturing company Caterpillar recently reported some pretty good earnings — so why are they pushing for employee concessions? Sesame Street is moving into the franchising business, opening preschools and after-school clubs in India. And Sally Ride, the first American woman in space, died yesterday. We look at the progress women have made since her historic flight.

The NCAA announced sanctions against Penn State University today, and they could greatly affect the surrounding economy for years to come. Londoners are paying taxes to cover the Olympics bill at a time when a recession is hurting the economy. If you feel inundated by all your friends’ status updates and tweets, commentator Beth Teitell has a solution for the social media overload. Tess Vigeland talks to former TARP Inspector General Neil Barofsky about his new tell-all book on the U.S. bailout. And for our series Food for 9 Billion, Sam Eaton reports from Vietnam, where fish farmers are trying to make the process more sustainable.

The Olympics is usually thought of as an economic win for the host town, but in the East End of London, there’ll be some losers as well. Both President Obama and Mitt Romney are prominently featuring blue-collar workers in their campaign ads — why is the rest of the working world left out? Watches, having been made basically useless thanks to cell phones, are now making a fashionable comeback. Reporter Shereen Marisol Meraji takes a look at the economic impact of Ramadan, which begins today.  And commentator and culture journalist Alyssa Rosenberg reflects on the shooting that took place at a midnight screening of “The Dark Knight Rises” in Aurora, Colo.  

Severe droughts across the nation are affecting nearly every level of production. Kai Ryssdal talks to Ken Lenox, a fifth-generation cattle rancher from Missouri,  about the effects of the drought on his land, and reporter Eve Troeh explains what happens when water becomes a hot commodity. Flying these days can be painful, but some airports are hoping to help things along with self-serve machines for everything from check-in to boarding. The new book, “Significant Objects,” explores how tchotchkes can be made valuable just through simple storytelling. And Funny or Die’s local news team KFOD brings a special report on the rising price of movie tickets.

A new report from the Federal Reserve Bank of New York says that middle-aged people are the ones struggling the most with student loans. The new numbers on housing look positive, but should we take the news with a grain of salt? The state of Washington is now allowing Facebook users to register to vote on the popular social networking site. The Consumer Finance Protection Bureau will be begin regulating credit rating agencies. Reporter Eve Troeh takes a look at the new summer vacation in light of the recent economy. And writer Dave Eggers talks about his new book, “A Hologram for the King,” which mirrors the rise and fall of American manufacturing with the struggles of an aging businessman.

The buzz is loud surrounding Marissa Mayer’s big move to Yahoo, but what does it really take to be a turnaround CEO? Republican governors and giant e-commerce retailer Amazon now back Congressional legislation to tax online transactions. We take a look at who, between Gov. Romney and President Obama, has done more outsourcing throughout their careers. Kai Ryssdal talks to Wall Street Journal reporter Scott Patterson about what the government is doing to prevent economic data leaks that give high-speed traders an unfair advantage. And we hear about social entrepreneurship in Ghana, the tale of building a business one battery at a time.

Former Google executive Marissa Mayer has been tapped as Yahoo’s new CEO; Kai Ryssdal talks to Andrew Ross Sorkin of the New York Times about the development. Former Arkansas governor and radio personality Mike Huckabee talks about why he thinks Mitt Romney is better equipped than President Obama to help the middle class. St. Louis has so many foreclosed homes that some neighborhoods are starting to demolish them, but many residents feel this is just a way to get poor people out of the area. According to a new report, cost is becoming an even bigger factor when it comes to choosing a college. And we hear about how folk art markets are feeling the effects of the larger global economy.