Marketplace

Monday - Friday 6:30 p.m.

Marketplace is produced and distributed by American Public Media (APM), in association with the University of Southern California. The Marketplace portfolio of programs includes Marketplace with Kai Ryssdal, Marketplace Morning Report with David Brancaccio, Marketplace Weekend with Lizzie O’Leary, and Marketplace Tech with Ben Johnson. Marketplace programs are currently broadcast by nearly 800 public radio stations nationwide across the United States and are heard by more than 12 million weekly listeners. This makes the Marketplace portfolio the most widely heard business or economic programming in the country--on radio or television. The programs focus on the latest business news both nationally and internationally, the global economy, and wider events linked to the financial markets. The only national daily business news program originating from the West Coast, Marketplace  is noted for its timely, relevant and accessible coverage of business, economics and personal finance.

Marketplace is produced and distributed by American Public Media (APM), in association with the University of Southern California.

Fewer couples have joint bank accounts. Why?

May 15, 2017

About 22 million Americans who are either married or living together keep separate bank accounts. That’s according to a recent survey by the personal finance site Bankrate.com. It also found that younger couples are more likely to keep their money separate.

Click the audio player above to hear the full story.

05/15/2017: Remember to update your software

May 15, 2017
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Marketplace

GM is launching a new service called Maven, which will allow drivers to rent cars by the hour. We'll discuss how Maven is different from the competition and GM's future in the self-driving landscape. Afterwards, we'll look at President Trump's decision to sign an executive order asking government branches to report on their security challenges — a move that coincided with a global ransomware attack. 

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Marketplace

Countries around the world, including Russia and China, have been hit by a cyberattack that erupted on Friday. We'll look at how it's affected some businesses, and the demands that were put forth by the ransomware. Plus: a look at the differences between Chapter 7 and Chapter 11 bankruptcies. 

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Kim Adams

We're becoming a nation of renters — and not just apartment dwellers. Since the housing crisis, more renters are writing the monthly check for single-family homes. More of them are also writing checks to corporate landlords like Invitation Homes, Colony-Starwood, and American Homes 4 Rent.

China was hailing its new trade deal with the United States today. Commerce Secretary Wilbur Ross said yesterday the agreement will help cut the U.S.'s massive trade deficit with China. The deal will open China's beef market to U.S. cattle for the first time in 15 years, and benefit American natural gas and credit card companies eager to do business in China. But, is it really a big deal?

Click the audio player above to hear the full story.

 

 

Weekly Wrap: Trump's command of the facts

May 12, 2017
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Kai Ryssdal

Catherine Rampell of The Washington Post and Linette Lopez of Business Insider join us to discuss the week's business and economic news. This week they talk about if President Trump's firing of James Comey will slow down the administration's economic agenda. Plus, they analyze Trump's handling of the facts in his interview with The Economist.

Not just for Mother's Day: Greeting cards rake in big profits

May 12, 2017
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Marketplace

The National Retail Federation estimates that 78 percent of Americans will buy a card for Mother's Day. Greeting cards are no joke. It's a roughly $6 billion to $7 billion a year industry, which is good news for card makers like Rosanna Kvernmo.

Private prisons benefit from new Trump rules

May 12, 2017

The Trump administration is going back to the “tough on crime” policies of the 1980s and '90s. Attorney General Jeff Sessions has ordered federal prosecutors to bring charges that carry heavy penalties – sometimes mandatory minimum sentences. This is a roll-back of Obama administration rules telling prosecutors not to charge nonviolent drug offenders with crimes that would automatically land them in jail.  The Sessions order could lead to a substantial increase in the prison population. That’s big news for the private prison industry.

Store-branded cards are a life raft for sinking retail

May 12, 2017

Department stores, those vestiges of the past, just can’t catch a break these days. Yesterday, shares of both Macy’s and Kohl's plummeted as investors grow more pessimistic about brick-and-mortar retail in an e-commerce world. There is one silver lining: Business from store-branded credit cards is up, but it likely won’t be enough to reverse the overall trend.

Click the audio player above to hear the full story.

Schwarzenegger: The self-made man is a myth

May 12, 2017
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Jana Kasperkevic

There is no such a thing as a self-made man, Arnold Schwarzenegger said today while delivering a commencement speech at the University of Houston. The former body builder, movie star and lawmaker urged new graduates to acknowledge everyone who has helped them along the way and help others, including immigrants who come to the United States.

05/12/2017: How to handle a financial crisis

May 12, 2017

The U.S. and China have reached a deal to lower some of the barriers to trade between the countries. We'll take a look at what each country stands to gain from looser restrictions. Next, we'll explore Yale University's new guide on how to put economies back together, and then talk about how outlets are exploring a new business model that will include full-price stores.

What we talk about when we talk about 'jagoffs'

May 12, 2017
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Tony Wagner

Sometimes "jagoff" can be a compliment.

Kai and Molly's conversation with Chicago Mayor Rahm Emanuel was combative — sometimes playfully so, sometimes not. He objected to our questions and then softened the blow with some light name-calling before settling into a long anecdote. It didn't matter the topic either: As we hopped from immigration to education to the city's finances to his tenure as Obama's chief of staff, the mayor was always verbose and punchy.

Ever since the world economy broke in 2008, policymakers have looked for ways to keep it from breaking again. But there’s another important lesson to learn: how to put it back together. Yale University is creating a tool to offer real-time guidance to central bankers and others while they deal with a financial crisis. 

Click the audio player above to hear the full story.

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Aaron Schrank

Carl Lee recently traveled 100 miles to buy a pair of shoes at the Camarillo Premium Outlets center northwest of Los Angeles.

“I got some Jordans,” Lee said. “I saved $60. You can’t beat that, right?”

The recession changed the way Americans shop. While it was mostly all bad for brick-and-mortar retail, it wasn't so bad for outlet malls.

They managed to thrive by selling discounts direct to the consumer. To keep that momentum going, however, outlet developers are making some changes to the business model.

Auto-loan market starting to spook lenders

May 12, 2017

The state of the auto loan market is causing some concern among analysts. Many are drawing comparisons with the mortgage-lending crisis that figured largely in the financial crash of 2008. At issue is the growing number of riskier, subprime loans. Default rates are going up too.  And lenders are starting to get spooked. 

Click the audio player above to hear the full story.

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Marketplace

Europe's highest court will decide in a few months whether Uber is a software company or a transportation service. If it rules the latter, that could mean unionization among the company's workers and guaranteed benefits for them. But could the ride-sharing giant withstand the cost increases associated with this regulation? Plus: We'll end the week by playing Silicon Tally with Alex Davies, a transportation editor for Wired.

05/12/2017: Planes, trains, automobiles and Trump

May 12, 2017
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Marketplace

Commerce Secretary Wilbur Ross has announced that U.S. and China have reached a deal to open each other's markets up to one another — kinda. Which industries stand to benefit, and will this actually bode well for the future of their relationship? The BBC's Andrew Walker breaks it down for us. Afterwards, we'll look at the growing comparisons between the mortgage-lending crisis of 2008 and the current market for car loans, and then talk about the role private investors could play in the president's infrastructure plans.

Snapchat's first quarter earnings fell short of expectations on many fronts, and that has investors wondering if Instagram and its owner, Facebook, are beating Snap at its own game. Instagram and Facebook have copied many popular features of Snapchat and its "stories" platform, and they have the bigger user base in place that Snap wants to get. 

Click the audio player above to hear the full story.

One more of President Trump’s nominees can move into his office and take up the president’s agenda on international trade, specifically NAFTA. Robert Lighthizer, an international trade lawyer and former trade official in the Reagan administration, was confirmed as U.S. trade representative today by the Senate on a vote of 82 to 14.  He’s likely to go back to the negotiating table with Canada and Mexico over NAFTA to bring a new deal back to Congress.

Trump’s tax plan is more trickle down than pump priming

May 11, 2017
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Sabri Ben-Achour

In an interview with The Economist, President Trump said it's OK that his tax plan would increase the deficit, because it wouldn't do so for very long. He said it would “prime the pump” of the economy. And then he said he came up with that phrase.

For the record, Donald Trump did not invent the phrase “priming the pump” in an economic context, or really any context.

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Eilis O'Neill

Jessa Lewis and her 14-year-old daughter share a two-bedroom basement apartment with another mom and her daughter. Lewis said they all live together, in part, because it’s really hard for single moms to find an apartment to rent in Seattle.

“My daughter and I were looking for a place to live in her school district,” Lewis remembers. “I called a number that was posted, and she said, ‘Well, it’s a small apartment.’ I said, ‘That’s fine. It’s just my daughter and I.’ And she said, ‘Well, then, I’m not even going to consider you.’”

Redfin CEO: To survive, keep thinking like a startup

May 11, 2017
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Kai Ryssdal and Bridget Bodnar

 What does "Love in the Time of Cholera" have to do with online real estate brokering? According to Redfin CEO Glenn Kelman, it's more than you probably think. Kelman became CEO of the online real estate company back in 2005. He spoke with Marketplace host Kai Ryssdal about his time heading the company and being at the forefront of online real estate brokering. Below is an edited transcript of their conversation.

Opioid overdoses overwhelm the nation's morgues

May 11, 2017
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Adam Allington

It was the spring of 2013 when David Madfes and his wife, Tania, were walking home after enjoying a late dinner in San Francisco. They were crossing the street about one block from their house when a truck making a left turn hit them.

“I fell on my shoulder, and my wife fell and hit her head on the street and suffered severe brain trauma,” Madfes said.

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David Brancaccio

While the courts have legalized same-sex marriage, many other protections for LGBT people are not settled in law — including whether or not an employer can fire an employee for being gay or lesbian.

There's movement on this issue after a federal court ruling that the Johnson-era Civil Rights Act also applies to sexual orientation.

Gillian Thomas, a senior staff attorney at the Women's Rights Project at the American Civil Liberties Union, joined us to talk about the organization's progress on the issue. Below is an edited transcript.

05/11/2017: Workplace protections for the LGBT community

May 11, 2017

Whole Foods is facing a shake-up. The company has announced it's going to replace about of of its board of directors amid declining sales. We'll take a look at why the grocery chain is facing this slump and who's set to join the company. Afterwards, we'll discuss the future of trade between Mexico and the U.S., and then talk with the American Civil Liberties Union about its push to have greater workplace protections for LGBT people.

What exactly is Trumponomics?

May 11, 2017
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David Brancaccio and Janet Nguyen

Some presidents have economic policies so closely intertwined with their administration that they get a portmanteau named after them. Think Reaganomics and trickle-down theory. 

Now there's Trumponomics.

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Tom Scheck, APM Reports

We’ve teamed with APM Reports to track proposed infrastructure projects around the country as President Trump prepares his $1 trillion plan. Here’s the first in a series of stories from our partnership. 

As President Trump prepares to release a list of projects that could be included in his $1 trillion infrastructure plan, groups are aggressively lobbying to make the cut. Over the past five months, Trump’s team has been quietly soliciting requests from across the country, triggering a torrent of proposals.

Mexico’s buoyant exports prompt cheer and fear

May 11, 2017

Mexico's auto exports to the U.S. are up this year. And with the Trump administration talking tough on trade deficits and the need to renegotiate the North American Free Trade Agreement, that could be a problem for our neighbor to the south.  

Click the audio player above to hear the full story.

Retailers galore report their earnings this week amid a string of massive brick-and-mortar store closures, with more shuttered doors expected. What can Kohl’s, J.C. Penney, Nordstrom and others do to hang on? Adapt faster to offer some online shopping perks and tools, or learn the predictive strategies that online retailers have down pat.

Click the audio player above to hear the full story.

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Marketplace

The cryptocurrency Bitcoin has hit a record high in value this week. What many, including the Fed, also see value in is Bitcoin's underlying technology, blockchain. We'll chat with Jim Cunha, a senior vice president for the Federal Reserve, about why the group has interest in this weird, esoteric technology.

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