Business/Economy

The WBFO Business & Economy News Desk is funded by The M&T Charitable Foundation.

Strong employment numbers are moving the market this morning. Private companies grew payrolls by 298,000 jobs — way ahead of expectations. Susan Schmidt from Westwood Holdings Group explains what these figures say about confidence in the business community. Next, we'll look at how the Raisin Capital of the World is coping with falling prices and foreign competition.

Here's what the wage gap looks like

Mar 8, 2017
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Janet Nguyen

International Women’s Day kicks off today with the aim of promoting gender equality across every arena, including workplace pay. Overall, women get paid 83 cents for every dollar that men do.

California's raisin farmers are struggling

Mar 8, 2017
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Andy Uhler

If you drive north on Highway 5 from Los Angeles, in about an hour you're going to start seeing a lot of farmland. About halfway between LA and San Francisco, you'll run into Selma, California, population 24,000. There's a typical town square downtown where you'll find the Chamber of Commerce.

Robert Allen, the chamber's executive director, was born in Selma and has lived in town for 72 years.

“We’re very proud of the fact that we still produce raisins and can call ourselves the raisin capital of the world,” he said.

Restaurants are off to another tough year

Mar 8, 2017

Last year was one of the worst for the restaurant industry. The number of restaurants per million people hit a 10-year low, and traffic for most categories was lousy, especially in casual dining. And this year's not off to a great start. Overall traffic was down another 2.5 percent in January, according to TDn2K. With grocery prices falling and prepared foods and delivery on the rise, diners need a really good reason to leave the house. And restaurants are struggling to give them one.

Click the audio player above to hear the full story. 

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Dan Weissmann

A couple of weeks ago, the heavy-equipment company Caterpillar was getting a very public thumbs-up from President Donald Trump. Then, last Thursday morning, investigators from three federal agencies descended on Caterpillar’s world headquarters in Peoria, Illinois, to grab files and computer equipment.

No charges have been filed, but it’s very rare for federal investigators to show up at a company like this.

03/08/17: Is the CIA spying on you?

Mar 8, 2017
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Marketplace

New documents from Wikileaks appear to reveal the number of ways that the CIA may be using previously unknown tech vulnerabilities to do things like spy on citizens. Security expert Tiffany Rad, founder and CEO of Anatrope, discusses how the security industry is reacting to this news. Next, we'll look at why a German court sided with Facebook in a defamation case brought forth by a Syrian refugee. 

TV ownership is in decline, new study says

Mar 8, 2017

Americans don’t own as many TVs as they used to. That’s according to a new study out from the U.S. Energy Information Administration. No surprise, as we’re watching more programming on mobile devices and laptops. What does this mean for the companies that make and sell televisions?

Click the above audio player to hear the full story.

WBFO's Mike Desmond

Across Western New York, the list of plants that have closed is very long and getting longer. Those were good jobs and many paid well, well enough to support making life and a family possible. Tulip Molded Plastics just opened a newly renovated plant in Niagara Falls that is keeping its current workforce but finding it difficult to find more employees.

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Kai Ryssdal

Grand Prairie Foods in Sioux Falls, South Dakota, maker of microwavable sandwiches, prepackaged scrambled eggs for hotels and other convenience foods, relies on immigrant refugee labor. The unemployment rate in Sioux Falls is under 2.5 percent, and Grand Prairie Foods owner and CEO Kurt Loudenback says it can be tough to find workers. Marketplace host Kai Ryssdal met Loudenback when he visited their factory in 2013 as part of the American Futures series with Jim Fallows from The Atlantic.

'The Real O'Neals' runs into reality

Mar 7, 2017
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Adrienne Hill

"The Real O'Neals" is, in many ways, a par-for-the-course network comedy.

The show centers on an Irish Catholic family in Chicago.

"The perfect veneer of a family crashes in a night," said Casey Johnson, one of the show's executive producers. "And it's a story about the aftermath of how this family comes together."

Toss in a few musical numbers, and you have a not-unfamiliar formula.

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Mark Garrison

A new set of funds has been created for people with strong religious views.

Most people use exchange-traded funds, which allows investors to put money into a lot of companies at once, to invest in something big and broad like the S&P 500 index, but you can also get very specific, like companies that share the same beliefs. The new ETFs, which debuted a few weeks ago, focus on biblically friendly companies.

What it means to close the 'dignity gap'

Mar 7, 2017
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Kai Ryssdal

For some Americans, dignity isn’t a right so much as it’s a commodity. Or at least it is according to Arthur Brooks, the president of the American Enterprise Institute, who makes this argument in his article for Foreign Affairs, “The Dignity Deficit: Reclaiming Americans’ Sense of Purpose.” Marketplace host Kai Ryssdal spoke to Brooks about the article, and about where he thinks American culture is heading. Below is an edited transcript of their conversation.

Permian Basin oil find cheers U.S. drillers

Mar 7, 2017

Oil drilling and fracking are back in America — that's the storyline out of the big annual oil industry confab in Houston this week. Crude oil prices have recovered from a two-year bust. The rigs are getting back to work. But a new location is the talk of the day. No, not Alberta, Canada, or North Dakota, but West Texas. That’s where a formation known as the Permian Basin has resurrected itself — again.

Click the audio player above to hear the full story. 

US trade deficit jumps to 5-year high of $48.5 billion

Mar 7, 2017
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Associated Press

WASHINGTON — The U.S. trade deficit jumped in January to the highest level in nearly five years as a flood of mobile phones and other consumer products widened America's trade gap with China. The result underscores the challenges facing President Donald Trump in fulfilling a campaign pledge to reduce America's trade deficits.

The deficit in January rose 9.6 percent to $48.5 billion, up from a December deficit of $44.3 billion, the Commerce Department reported Tuesday. It was the largest monthly gap since a deficit of $50.2 billion in March 2012.

03/07/17: Jackie Chan's push for more foreign films

Mar 7, 2017

House Republicans have unveiled a plan to replace Obamacare. JPMorgan Funds' David Kelly stopped by to discuss how the new proposal will affect businesses. Next, we'll chat with scholar Daniel J. Levitin how we can become better critical thinkers amid a sea of fake news. And finally we'll look at why Jackie Chan wants a more open movie market in China.

 

International players from the oil industry are meeting in Houston this week for the annual gathering called CERAWeek. It’s the first meeting since the Organization of the Petroleum Exporting Countries, or OPEC, declared a historic cut in oil output last November in order to bring prices up from a 12-year low. It's also the first meeting since the U.S. presidential election and the new pro-business Trump administration. How is that development playing out in the oil sector?

Click the above audio player to hear the full story.

A federal judge in Colorado has approved the first class-action lawsuit testing whether private prisons can force detained immigrants to work as “volunteers” for as little as $1 per day. The case centers on an ICE detention facility run by the GEO Group, one of the country’s largest private prison operators, and may turn on whether detainees are considered the same as inmates convicted of crimes.

Click the audio player above to hear the full story.

How to be a more critical thinker about news

Mar 7, 2017
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David Brancaccio and Marketplace staff

Our brain is wired to make snap judgments. And those judgments can be very, very wrong. 

Daniel J. Levitin, a neuroscientist by training and a distinguished faculty fellow at UC Berkeley, said our best defense against being taken advantage of by others is to employ evidence-based thinking. 

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Marketplace

We'll look at a Samsung scandal involving one of the company's top executives, who's about to go on trial as part of a larger corruption investigation involving the South Korean government. Afterwards, we'll chat with Slate's Will Oremus about how Twitter's algorithm affects the way we consume news.

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Marketplace

We'll look at a new proposal from House Republicans to replace Obamacare; a lawsuit that will test whether detained immigrants can be forced to work as so-called "volunteers"; and the debut of biblically responsible exchange-traded funds. 

Video: "Squirrel!"

Mar 6, 2017

You may have noticed President Donald Trump tweeted this weekend. But try not to get distracted. We're talking about that, a busy week for tech news and Kai's leftover preferences on this week's live video.

Join us every Monday at 10:30 a.m. Pacific Standard Time on Facebook for our weekly editorial meeting. We like to hear what you're thinking about. And if you can't join us live, let us know what's on your mind in the comments section. We're always checking in throughout the day.

Iraqis are relieved to be excluded from new travel ban

Mar 6, 2017
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Kai Ryssdal and Robert Garrova

President Donald Trump signed a new executive order on international travel today. Unlike the order issued in January, the new order excludes Iraq from the list of restricted countries. BBC correspondent Rami Ruhayem has been reporting from Iraq on the conflict in Mosul.

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Jana Kasperkevic

Some communities are already seeing the impact of “A Day Without a Woman,” a strike planned for Wednesday meant to underscore women’s contributions to the economy and society.

School districts in North Carolina and Virginia have announced they will be shutting down for the day due to a potential shortage of teachers. About 76 percent of teachers who taught at U.S. public schools during the 2011-2012 school year were female, according to the National Center for Education Statistics.

The Rockies divide brand loyalties, too

Mar 6, 2017
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Annie Baxter

“I grew up in California," says listener Tom Cronin, of Atlanta, "and about five years ago, I moved to Georgia, and I saw a lot of the same logos for ice cream and bread and restaurants, but they had different brand names. They looked like they're exactly the same company, and when you look, they're usually the same parent, but they use different names in the different places. So my question is: Is that for marketing reasons? Is that for regulatory reasons? Why would they do that?” 

Why St. Louis was named a 'judicial hellhole'

Mar 6, 2017
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Maria Altman

Johnson & Johnson, the maker of health and beauty products, won a verdict Friday in St. Louis rejecting a plaintiff’s claim that her ovarian cancer was linked to her use of talcum powder. 

But the company lost three similar lawsuits last year with St. Louis juries awarding nearly $200 million in damages.

Amid news that GM is selling its European car brands, Automobile Magazine's Jamie Kitman breaks down what the move could mean for the company's future. Next, we'll look at why cities might not include potential federal cuts in their budget proposals and then discuss the increased preoccupation with politics at the office. 

Trump's new travel order applies to those seeking new visas

Mar 6, 2017
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Julie Pace and Jill Colvin/Associated Press

(WASHINGTON) — President Donald Trump's revised travel ban will temporarily halt entry to the U.S. for people from six Muslim-majority nations who are seeking new visas, though allowing those with current visas to travel freely, according to a fact sheet obtained Monday by The Associated Press.

Trump was to sign the new executive order later in the day. The directive aims to address legal issues with the original order, which caused confusion at airports, sparked protests around the country and was ultimately blocked by federal courts.

Cities like New York and San Francisco are facing uncertainty about how to budget for the future. President Donald Trump has said he plans to make drastic budget cuts, and he’s also threatened to withhold federal money from “sanctuary cities.” Are cities running through scenarios where they might not have federal funding?

Click the audio player above to hear the full story.

US tourism may have taken a hit from Trump's travel ban

Mar 6, 2017

As President Donald Trump revises his original executive order banning people from seven majority-Muslim countries, the tourism industry is hoping he might soften the edges a little. There’s a lot of concern that U.S. tourism took a hit after the first order did not go down so well, making some global visitors feel unwelcome.  

Click the audio player above to hear the full story.

It's official. Politics is distracting us at work

Mar 6, 2017
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Sam Harnett

You might have noticed that you or your co-workers are spending more time on the job talking or reading about politics. Maybe you're skimming news headlines, debating with colleagues or posting on social media. It's not your imagination. Politics has become a major topic in the workplace.

Kris Duggan said he has never seen his employees so preoccupied with the news. Duggan is the CEO of a BetterWorks, which develops software to manage employee performance.

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