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.

Now more than ever, cars are just rolling computers

May 25, 2018

Fiat Chrysler is recalling 4.8 million vehicles in the U.S. because of the risk that drivers may not be able to turn off the cruise control. The recall includes 15 Jeep, Dodge, Chrysler and Ram models from six model years. Fiat Chrysler says it can fix the issue with a software update. Earlier this week Tesla said it could fix a braking performance issue highlighted by Consumer Reports via a software update. These cases highlight the extent to which software controls critical safety systems in cars. 

Click the audio player above to hear the full story. 

Instagram entrepreneurs are searching vintage racks for you

May 25, 2018

We've been shopping online for more than two decades. Now social media is a burgeoning new venue for shoppers who would rather scroll and comment than hunt for treasures themselves at brick-and-mortar stores. But how does it work for both the consumers and "shop" owners? Marketplace host Kai Ryssdal talked about it with Alexandra Stratton, who wrote about the trend for Bloomberg. The following is an edited transcript of their conversation.

Not white? Ancestry services don't work so well. Companies are looking for fixes.

May 25, 2018

Ever wondered where you come from? Like, every wanted to look far back? Really, really far back?

Beyond calling up your oldest relative and combing through there family tree, there's a whole industry that wants to help: Direct-to-consumer genetic ancestry products ranging from Ancestry.com to 23andMe. They say they provide a way to dive into your heritage, possibly unearth some skeletons in your genetic closet and really narrow down what percentage of what ethnicity lives in your genes.

What's the return on investment for bias trainings?

May 25, 2018

Starbucks plans to close 8,000 stores for a single day to conduct racial bias training for over 175,000 members of their workforce. It follows public outrage after two black men were arrested in a Philadelphia Starbucks while waiting for a friend. In recent years, companies have embraced bias training as a way to get ahead of — or get out from under — similar incidents. So, how do businesses know whether these training sessions really work and how do you measure their effectiveness?

Starbucks stores around the country are closing down next week for unconscious bias training. The programs are getting more and more popular, but is their impact measurable? Plus, we cap of our week covering graduates in the recession with the story of one man who regrets going to college. But first, a look back at the week's business and financial news.

Where did the word "economics" come from?

May 25, 2018

When it comes to economics, it's easy to get caught up in big ideas: Money, the markets, trade, labor and more.

Now, believe it or not, the study of these ideas can all be traced back to one guy in ancient Greece — a mercenary who lay down his weapons, thought long and hard about household management and then wrote a text about it. 

So let's take a look backward to where the original idea of economics came from and why that's important today.

1. Xenophon, the mercenary turned armchair philosopher

Bias, feral hogs and ancient money

May 25, 2018

Want to know why you've been getting bogged down with terms-of-service emails from companies, how to tell if bias trainings work or how entrepreneurs learn the business of, well, business? We dive into all of that on this week's show. Plus, the surprising ancient origins of the word "economics." And why hunting feral hogs has become an aerial activity in Texas.

Feral hogs cause almost $800 million in annual crop damage across the U.S. according to the United States Department of Agriculture. More than a quarter of that damage happens in Texas – where farmers are spending millions of dollars in trying to mitigate the hog problem.

How to learn the business of business as a high schooler

May 25, 2018

At a recent trade show in New York, high school student Ashley Klement walked me through the different flavors of coffee her company, TropiCoffee, sells. There are five: original, mocha, caramel, vanilla and a special seasonal flavor.

“Right now, it’s Peeps flavor, but every holiday it switches,” she said.

I can’t buy any Easter bunny-flavored coffee however, because TropiCoffee doesn’t exist. It’s a class project.

As the summer travel season gets under way, a look at hotel security. One of the largest providers of hotel locking systems recently updated a bug in its software after a security company found its key cards, used in 7 million hotel rooms, could be hacked. What are options for hotels trying to ensure that guests and their belongings stay safe? And what should hotel patrons be aware of when it comes to security?

(Markets Edition) Investment money has been flowing out of several developing countries, including Turkey and Argentina. On today's show, we'll chat with Chris Low — chief economist with FTN Financial — about why selling's been heavy and how these countries are trying to handle the issue. Next, we'll look at whether the National Flood Insurance Program is doing after last year's hurricane season, and whether it has the funds to tackle another Harvey. Plus: We explore how hotels are dealing with security in the digital age, as data breaches become more of a threat.  

Despite Texas’ reputation as a business-friendly state, a survey last year from the Federal Reserve Bank of Dallas found access to capital is the number one concern for women and non-white small business owners in the state.  

Last year was the most damaging hurricane season on record, with storms Harvey, Irma and Maria wreaking hundreds of millions of dollars of destruction across the United States. The 2018 season gets underway in June, and some forecasters are predicting a normal to above-normal season. What does that mean for getting flood insurance coverage?

Click the audio player above to hear the full story. 

Arizona's trying to draw more tourists from Mexico

May 25, 2018

(U.S. Edition) You may have noticed lots of emails from websites or apps saying they've changed their terms of service or privacy policies. They're all trying to comply with a new European law known as the General Data Protection Regulation, which takes effect today. We'll look at how the law benefits consumers and what it means for companies' business models. Afterwards, we'll discuss Arizona's efforts to attract more tourists from Central Mexico. (05/25/2018)

 

Foreign visitors to the United States are on the decline after six straight years of growth, according to the Department of Commerce. Mexico is the U.S.'s second main source of visitors, but the number of travelers from there to the U.S. fell about 7.5 percent in September 2017, compared to the previous year. Some states are working to keep Mexican tourists coming, like Arizona. “Mexico is our number one international market. Mexican travelers spend a lot of money,” said Scott Dunn, senior director of communications for the Arizona Office of Tourism.

A new era in online privacy begins

May 25, 2018

(Global Editon) From the BBC World Service ... Russian oligarch Oleg Deripaska has stepped down as a director of Russia’s biggest aluminium producer in a bid to lift crippling U.S. sanctions. We discuss the man, his motives and what’s next for Russia's billionaires. Then, new European regulation will transform the way businesses deal with their customers. We look at the challenges and benefits as Europe gets tough on privacy. Next, India's sporting prowess hit the headlines after athletes won a record 66 medals at the Commonwealth Games. Many of them were won by women.

The Washington Capitals are headed to the Stanley Cup finals and the team's fans have sponsors to help them catch a ride home. Because Washington, D.C.'s metro system usually shuts down at 11:30 pm, some interesting public-private partnerships are evolving to fund late night service.

Click the audio player above to hear the full story. 

65: It's a GDPaRty!

May 24, 2018

Unless you've been living under a rock, you've probably seen a email or two (or a million) saying something along the lines of "we're updating our privacy policy." Why now? Well, tomorrow is the deadline for companies to comply with Europe's General Data Protection Regulation, also known as GDPR. Today's show is all about GDPR. It's a GDPaRty! We've got two stressed-out lawyers rushing toward the deadline to get their clients in compliance, but they're taking a break to talk to us. Plus, your questions answered. And what better to do with GDPR than make cocktails about it?

President Trump is considering imposing higher tariffs on imported cars, trucks and automotive parts in the interest of national security. The automotive supply chain today is global. Some American brands make their cars overseas, some foreign automakers make cars in the U.S. and vehicles are assembled from parts made all over the world. Bill Brebrick is the U.S. sales manager with Zapp Precision Wire, a German steel company with several factories in the United States. Marketplace host Kai Ryssdal talked with him about how his company fits into the global automobile supply chain.

The quest for the next great red pigment

May 24, 2018

A modern computer can display 16.8 million colors, but not every one of them could be applied to materials. One important factor needed in the process is called pigment. And today, many of them are either toxic or not durable. Marketplace host Kai Ryssdal talked to Zach Schonbrun, a freelance journalist, about his piece on Bloomberg's Businessweek that looks at the pigment market and why the world needs a new red pigment.

The pot lobby hits Capitol Hill

May 24, 2018

Medical marijuana is legal in 29 states and the District of Columbia. But when it comes to federal law, marijuana is illegal. This legal-illegal thing makes it complicated and expensive to operate a pot business. That's why a couple hundred business owners and members of the National Cannabis Industry Association hit Capitol Hill this week to press lawmakers to legalize marijuana, or at least ease certain banking and tax laws. 

(Markets Edition) The Trump team is looking into penalties on imported cars and trucks, which may be an attempt to target Mexico since they're one of our largest exporters. We'll explore why this might hurt hurt the auto industry, particularly in areas like the Midwest, and how the U.S. is pushing Mexico to create alliances with the European Union.

Inventory shortage driving existing home sales market

May 24, 2018

There’s a shortage of existing homes for sale in some parts of the country and prices are going up steadily. Part of the problem is that people aren’t moving and there aren’t enough new homes being built.  

Click the audio player above to hear the full story. 

Plastic straws could be banned in New York City if a new bill introduced in the city council this week goes through. Similar restrictions are being considered for California. Several cities there have already banned the plastic straw. And both the U.K. and Taiwan have announced plans to eliminate them. Today McDonald’s shareholders are scheduled to meet and consider a proposal to get rid of the company’s red and yellow striped plastic straws. What would it take for McDonald’s to change?

Click the audio player above to hear the full story. 

(U.S. Edition) The Trump administration is looking into applying import tariffs on foreign cars and trucks, which may go as high as 25 percent for vehicles from Toyota or Honda. But could this actually help the American auto industry? We'll look at the unintended consequences of a decision like this. Afterwards, we'll talk to the CEO of the Mayo Clinic, Dr. John Noseworthy, about his goal of reducing the amount of wasteful visits you have to take to the doctor's. (05/24/2018)

When Michigan State University announced a $500 million settlement last week with victims of convicted sports medicine doctor Larry Nassar, officials didn’t say how they would pay for it. Interim President John Engler told Michigan Radio that insurance will cover some of the cost. The university may have to borrow some money or dip into reserves.

Can Colombia turn peace into economic prosperity?

May 24, 2018

(Global Edition) From the BBC World Service ... Shares in European and Asian car companies have stalled after the U.S. raised the prospect of applying import tariffs on national security grounds. We ask economist David Bailey what's next. Then, Deutsche Bank is cutting 7,000 jobs as the bank's new chief executive vows to go back to basics. And, after half a century of civil war, Colombians are still struggling with the country's slow economic recovery. We explore the region's issues ahead of this weekend's election.

The Mayo Clinic wants you to see the doctor less

May 24, 2018

You probably know the Mayo Clinic for its doctors and from a few of the Google searches you've done when your lower back was hurting. But how about the next big thing in medicine, which could be artificial intelligence or a merger with Amazon, JPMorgan Chase and Berkshire Hathaway?

Well, no promises yet, but Dr. John Noseworthy, the president and CEO of the Mayo Clinic, has entrepreneurial plans for the hospital that opened in 1889. 

The problem of governments using facial recognition software

May 24, 2018

This week, Amazon is facing backlash for selling facial recognition tools to police. The American Civil Liberties Union says the company was powering a government surveillance infrastructure. Amazon says its services can be used for anything from finding lost children to spotting celebrities at the royal wedding to tracking down criminals. Facial recognition is an increasingly powerful tool that’s raising a lot of privacy concerns. And not every company thinks these tools should be sold to every buyer.

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