Your house is being towed

Sep 28, 2018

Thousands of people in California live out of their cars. And for those people, the threat of parking tickets is also the threat of losing their home. But first: We'll look at the week in business and economic news, and tell you everything you need to know about Tesla and the SEC. Plus: 28,000 public service workers applied for student loan forgiveness, but only about 4 percent got it. What happened?

When your home is towed away

Sep 28, 2018

Sean Kayode says he watched his whole world roll away from him at 3 in the morning.

Kayode had been living in his car in San Francisco about two years. During the early morning of March 5, traffic police towed and impounded his red 2003 Mercedes-Benz for having too many overdue parking tickets.

The SEC is trying to drop a hammer on Elon Musk. How big can it be?

Sep 28, 2018

In premarket trading Friday morning, Tesla stock dropped about 13 percent after the Securities and Exchange Commission sued Elon Musk for the mess last month when he tweeted that he had "funding assured" to take his electric car company off the public stock market. The SEC says this caused the stock to gyrate, which hurt investors. Musk responded Thursday that the suit against him is "unjustified" and that he always acts in the best interests of shareholders. 

Immigration is a hot-button topic; everyone has an opinion. Politics aside, much of how people feel about U.S. immigration policy depends on how the policy could affect that person individually. And if your business depends on access to a migrant work force, you're deeply concerned about how many people are granted work visas and right-to-work status.

(Markets Edition) In the wake of the SEC filing a lawsuit against Tesla CEO Elon Musk for what it says were misleading tweets that hurt investors, we spoke to a former SEC lawyer to talk about what the outspoken Musk could be facing. Also, we check in with economist Chris Low about the markets. Then, we look into E-Verify, the electronic government system that checks if workers are indeed U.S.

Updated at 4:50 p.m. ET Saturday

President Trump has ordered the FBI to conduct a limited "supplemental investigation" into his Supreme Court nominee, Brett Kavanaugh, to update the judge's background check, following a deal struck by Senate Republicans to move the nomination forward.

The move comes after Senate Republicans agreed to delay a vote on Kavanaugh's nomination to give the FBI one week to look into the allegation of sexual assault brought against him by Christine Blasey Ford, which the federal appeals court judge denies.

(U.S. Edition) Tesla’s stock has dropped 10 percent after federal securities regulators sued CEO and founder Elon Musk. Musk is accused of sending out misleading tweets that caused company stock to fluctuate, which then hurt investors. Then, Brazilian oil giant Petrobras is on board with playing about $800 million to settle corruption investigations. Also, we sign on for a quick course in tort law, courtesy of Ralph Nader at his very own American Museum of Tort Law. We took a tour of this museum.

Can Germany convince Turkey to loosen up?

Sep 28, 2018

(Global Edition) From the BBC World Service ... Can German Chancellor Angela Merkel convince Turkey's president to loosen his grip on human rights and the economy during their expectedly stormy meeting Friday? It's been a turbulent year for Europe's biggest low-cost airline, Ryanair, which on Friday saw more pilot strikes – and more disgruntled customers.

Ralph Nader recalls life under surveillance by General Motors

Sep 28, 2018

What's the first thing you do when you get into a car? Put on a seat belt. Today we know that driving without a seat belt is unsafe and Ralph Nader spent much of his early career making sure motorists — and car manufacturers — knew this, too. Nader's first article  on auto safety was published in 1959 and led him to a job in Washington D.C. researching the auto industry.

Ralph Nader wants you to wear a seat belt

Sep 28, 2018

Ralph Nader had a problem. As a young man he watched a number of friends die or get injured in car accidents, but he refused to accept that the unrelated events were a coincidence.  Instead he began to ask questions about accountability: some of his answers were to be found under the hood.

TV is still the big dog when it comes to advertising. But it's slipping. Advertisers are moving their dollars online, fast. The money is mostly flowing to Facebook and Google because those platforms can use personal information to target ads specifically based on your interests. But the next frontier in TV ads is coming our way. AT&T just completed its purchase of Time Warner and has launched an ambitious new ad-tech strategy. The plan is to take all that data it has from wireless subscribers and its internet services and deliver way more targeted ads on television.

Updated at 9:32 p.m. ET

The U.S. Securities and Exchange Commission is suing Tesla CEO Elon Musk, alleging securities fraud a month after he announced that he planned to take the publicly traded electric-car company private.

"Musk's false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla's stock and resulting harm to investors," the lawsuit says.

Across the country, Americans were transfixed Thursday by television coverage of Christine Blasey Ford and Brett Kavanaugh as they testified before the Senate Judiciary Committee. Ford spoke of her allegation that the Supreme Court nominee had sexually assaulted her when they were teenagers in 1982. Kavanaugh vehemently denied it.

Japan has agreed to start talking to the United States about trade on a bilateral basis. That's the word from both countries after Japan's Prime Minister Shinzo Abe met with President Donald Trump at the United Nations in New York on Wednesday. Japan, up until this point, has favored pursuing multilateral trade deals including the United States, but going it one on one is the preference of Trump and his trade team. The Japanese have gotten something they very much want in exchange: The U.S will not impose higher tariffs on Japanese auto exports while negotiations are underway.

SEC files complaint against Tesla’s Elon Musk

Sep 27, 2018

DETROIT — U.S. securities regulators have filed a complaint against Tesla CEO Elon Musk alleging that he made false and misleading statements about plans to take the company private in August.

The Securities and Exchange Commission says in the complaint filed Thursday that Musk falsely claimed in an Aug. 7 statement on Twitter that funding was secured to take the company private at $420 per share.

The complaint filed in the U.S. District Court in Manhattan says that Musk had not discussed or confirmed key deal terms including price with any funding source.

As 70 mm film sees a comeback, who's running those projectors?

Sep 27, 2018

Up in the projection booth at the Alamo Drafthouse Cinema in Brooklyn, head projectionist Tanner Agle tinkers with a 70 mm projector.

“I’m hitting this green button start," he said, as the projector starts up a familiar whirring sound. "I’m just gonna run this a little bit.”

Let's look at the big picture

Sep 27, 2018

As the United States and Mexico finalize details of a trade agreement, the Trump administration has written a rule that Mexican auto manufacturers pay workers a $16 hourly wage or face a 2.5 percent tariff. But the extra taxes might be cheaper than raising wages. We'll look at what a deal could mean for labor in Mexico, plus give an update on the World Trade Organization and trade talks with Japan. Then: 70 mm film is making a comeback in Hollywood, and that means there’s a revival in the fading film projectionist workforce. 

The Trump administration has been negotiating a new trade deal with Mexico that’s designed to encourage car companies to make more of their products in the United States. In the 20 years since the North American Free Trade Agreement, manufacturers have turned to the cheaper labor pool south of the border for more affordable cars and car parts.

The CEO of one of the nation’s largest automakers says metal tariffs imposed by the Trump administration earlier this year have cost his company $1 billion in profits and sales. Ford boss Jim Hackett made the comment at a gathering of business leaders in New York on Wednesday. The administration imposed the steel and aluminum levies to bolster American businesses.

Click the audio player above to hear the full story. 

Stephen Sharkey is Florida grown, as they say. He was born and raised in Brevard County, three hours north of Miami. As a kid in the '80s, he spent a lot of time exploring the Indian River Lagoon, a coastal inlet that spans five counties and supports thousands of animal and plant species.

“My earliest memories are my dad coming home from work and going to collect blue crab out of the canals,” said Sharkey, standing at the shore of the lagoon.

Student loans make wealth gap worse for blacks

Sep 27, 2018

While the pursuit of higher education should put students on a path to success, a new study finds a deep disparity along racial lines. With less resources to pay for college, black students took out 85 percent more in student loans than their white peers. Predatory private loans, for-profit colleges and slower rates of loan repayment can work against black students seeking financial advancement, worsening wealth inequalities.

Click the audio player above to hear the full story. 

Drew Angerer / Getty Images

Supreme Court nominee Judge Brett Kavanaugh and the woman who has accused him of sexually assaulting her in high school, Christine Blasey Ford, are testifying before the Senate Judiciary Committee. Watch the proceeding live.

California did away with bail. Who's next?

Sep 27, 2018

(U.S. Edition) As expected, the Federal Reserve raised its benchmark rate Wednesday, keeping up with a trend of gradual rate increases after steep drops during the financial crisis. In world news, the head of the International Monetary Fund agreed to increase a loan package to Argentina as its form of currency, the peso, continues to underperform.

Italy budget: Big promises, big debt

Sep 27, 2018

(Global Edition) From the BBC World Service ... Italy's new government will be releasing its first budget Thursday. But how realistic is it to offer every citizen a guaranteed basic income when your country's debt is so high? Investment behemoth Goldman Sachs begins its Europe expansion by offering retail banking in the U.K. And as old trading relationships break up, we look at one successful trading model between Israel and Britain that's so successful it's being replicated worldwide.

Beth Kobliner on having the "talk" with your kids about the cost of college

Sep 27, 2018

There are many talks parents have with children: about doing well in school, making good life decisions, sex, how much to spend on that first car. Yet when it comes to the cost of college, it seems the money discussion isn't one moms and dads are so ready to have with their kids. Or sometimes each other. 

Open letter to Apple: It’s time to turn iMessage into a social network.

Christine Blasey Ford has accused Supreme Court nominee Judge Brett Kavanaugh of sexually assaulting her when they were in high school in the early 1980s. On Thursday the psychology professor is testifying before the Senate Judiciary Committee. Read her opening statement below.

On Thursday, Supreme Court nominee Brett Kavanaugh will appear before the Senate Judiciary Committee to testify on a sexual assault allegation by Christine Blasey Ford, who is also testifying. Read Kavanaugh's opening statement below, submitted to the panel on Wednesday.

Earlier this week, the founders of Instagram up and left Facebook five years after Facebook bought their company. But quitting isn't so easy for the rest of us. Facebook has our friends, our pictures and our snarky comments. It's why there are so few real competitors. And if you switch to a smaller social network, it's pretty lonely. But earlier this year, Microsoft, Facebook, Google and Twitter announced a project to make it easier to move your personal information between services. That data portability is just what it sounds like — creating the option for users to move on.

In any workplace, there are many things to consider: Who gets promoted and when? What are the steps to creating a diverse work environment? How should grievances be handled?

Right now, these questions are playing out in Congress as the Senate Judiciary Committee addresses allegations of sexual misconduct against U.S. Supreme Court nominee Brett Kavanaugh.