Marketplace from APM

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American Public Media's Marketplace presents news on business, economics, and money for the rest of us.

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Let’s do the numbers: the cost of inauguration

9 hours ago
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Sabri Ben-Achour and Marketplace staff

President-elect Donald Trump’s inauguration celebration Friday may cost millions of dollars, but American taxpayers aren’t footing the entire bill.

“The taxpayer pays for everything surrounding the actual ceremony that's involved with swearing in the president,” Washington Post reporter Roxanne Roberts told us. “But all the things that we typically think of as part of an inaugural — parade, the balls, the fancy parties — are privately funded by the Presidential Inaugural Committee.”

01/18/2017: 'Mutually assured economic destruction'

11 hours ago
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Marketplace

It's another week of confirmation hearings for Trump's cabinet picks. We'll share the highlights from Betsy Devos's contentious hearing, and look at what we can expect from Tom Price's. Next, Marketplace's Scott Tong will discuss what the relationship between the U.S. and China might look like after Trump takes office. Do we have a future trade war on our hands? 

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Marketplace

Think the rise of digital means a reduced ecological footprint? Turns out streaming the latest hit show might be bad for the environment, according to a new Greenpeace report. Quartz's Ashley Rodriguez explains how exactly the streaming industry uses energyAfterwards, we'll look at news that online grocery stores will soon be allowed to accept food stamps, and then talk about the possibility of bendable phones.

Donald Trump’s breaks with the GOP on a border tax

23 hours ago

President-elect Donald Trump has said he wants a big border tax on imported goods to encourage corporations to set up factories in the U.S. Republican leaders in Congress don't love the idea, and they've come up with their own plan.

It’s called a border-adjusted tax. However, in an interview with the Wall Street Journal, Trump said the GOP plan is too complicated, opening a potential rift with the party. 

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Molly Wood

If you're tired of superhero sequels and "Star Wars" dominating the box office, get ready for an onslaught of musicals.

Hollywood has been afraid of the genre for decades, but thanks to some recent successes, execs are changing their tune. According to the New York Times, studios have at least 20 new musicals in the works.

President-elect Donald Trump’s nominee for education secretary, Betsy DeVos, is in the hot seat this evening, the latest Cabinet pick to face a Senate confirmation hearing. DeVos is a billionaire whose family has given millions of dollars to support conservative Christian causes and Republican politicians, including five senators on the committee overseeing the confirmation process. Though she has no experience working in schools, DeVos has had a long career as an education activist, pushing for more choice for families who want to opt their kids out of traditional public schools.

Autodesk CEO on 3D printing and human inferiority

Jan 17, 2017
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Molly Wood and Robert Garrova

A lot of the things around us — cars and the planes and buildings — were designed using a piece of software called AutoCAD. The 'CAD' stands for Computer Aided Design. And the program has been the go-to for designers since the 80s. It used to be the most-used design software in the world. Now, decades after its founding, Autodesk has expanded from helping people make buildings to helping people make all kinds of things with the help of 3D printers.

Autodesk President and CEO Carl Bass on why 3D printing is a good investment:

John Lee Hancock on making a movie about an iconic founder

Jan 17, 2017
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Molly Wood and Bridget Bodnar

Ray Kroc is the man behind McDonald’s unprecedented rise from local burger joint fast food giant, but he didn’t come up with the idea that was the McDonalds brothers.  John Lee Hancock’s new film “The Founder” examines how Kroc, played by Michael Keaton, became partners with the brothers and eventually bought them out of their business.

John Lee Hanock on why he wanted to do this story:

What the Equinox CEO knows about your lifestyle goals

Jan 17, 2017

Equinox Holdings is the company behind the fitness clubs of the same name, as well as SoulCycle and a chain of no-frills gyms called Blink. Now, they're getting into the hotel business. Marketplace host Kai Ryssdal talks to Equinox CEO Harvey Spevak about what he realized about the way we work-out way before anyone else did, and what that means for the way we want to live.

Subscribe to the Corner Office podcast on iTunes.

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Marketplace

To wrap up our yearlong series "How The Deck is Stacked," we travel to Erie, Pennsylvania, a community built on manufacturing. Erie represents much of the economic dissatisfaction that helped swing the presidential election. We're kicking off a week of coverage from there with a bunch of stories from a local watering hole. Plus, the latest on Brexit and President-elect Donald Trump's promised border tax.

A visit to Erie's Polish Falcons

Jan 17, 2017
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Marketplace

For the past year, we've been working on "How the Deck Is Stacked" with "Frontline" and "PBS NewsHour," a series about the economy and the election, and what one means and has meant for the other.

Here's what we were looking for to wrap up this series: a not-coastal county, not too big, not too small, founded on what built this country — manufacturing — trying to find its way in a changing economy.

But we had one more criterion: We wanted to find a place that had voted for President Barack Obama in 2008 and 2012, and Trump in 2016.

As part of a nationwide expansion, Wal-Mart is adding 10,000 jobs this year. But in 2016, the retail giant announced thousands of cuts. With all of this job shuffling, what should we make of this announcement? Also on today's show: a new report from Oxfam that reveals eight of the world's richest men are wealthier than 3.5 billion of the world's poorest people, and a look at how social media is changing the way activists coordinate.

Wal-Mart touts new jobs in 2017

Jan 17, 2017

In a press release Tuesday, Wal-Mart announced it’s adding 10,000 jobs in 2017, as part of 59 new stores or expansions around the country. But the announcement comes on the tail of a year of job cuts and retooling at America’s biggest private employer. It announced hundreds of store closures in January 2016, and in September said it would eliminate some 7,000 office positions.

Oxfam released a startling new report on income inequality this week. It says just eight rich men – six of them in the U.S. — own as much wealth as 3.5 billion of the world’s poorest people. What’s driving this income inequality? And what can be done about it? 

Click the above audio player to hear the full story.

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Sabri Ben-Achour

April 2, 1792 is the exact date the Coinage Act was passed, a measure that led to the creation of the U.S. Mint and required coins to depict an "impression emblematic of liberty."

To commemorate its upcoming 225th birthday, the U.S. Mint is releasing a new set of $100 gold coins. And for the first time ever, these coins will depict Lady Liberty as an African-American woman. 

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Adam Allington

President-elect Trump’s inauguration is expected to attract the biggest mass protest of an elected president since Richard Nixon in 1973, when 60,000 protesters descended on Washington.

The idea for the Women’s March on Washington was conceived on Facebook and pulled together in a few short months, a feat that would have been impossible even a decade ago.

March organizers are predicting as many as 200,000 attendees. People like Sara Archambault, from Providence, Rhode Island.

01/17/17: A new Lady Liberty

Jan 17, 2017
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Marketplace

As U.K. Prime Minister Theresa May gears up to give a speech on Brexit, we'll look at what some of her objectives might be. There's been speculation over whether the U.K. will try to keep some benefits of EU membership, but now it appears that the prime minister wants a hard break. Next, we'll look at U.S. Mint's plans to release a $100 gold coin with the symbol of liberty depicted as an African-American woman. 

 

01/17/17: It began with a BlackBerry

Jan 17, 2017
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Marketplace

When Obama was first sworn in, some were worried about allowing him to keep his BlackBerry. Eight years later, he's cemented his status as a pretty tech-forward president. As his second term ends, we'll look back at the role of technology in his administrationNext, we'll chat with Gray Space co-founder Matthew Hoffman about the influence of virtual reality on the architecture industry. 

One of coal’s last strongholds is under review

Jan 16, 2017

The coal industry is suffering these days. And regardless of campaign promises, it’s unlikely the Trump administration will be able to do much to bring coal back to its glory days. Fracking and natural gas are just too competitive an energy source. There are still some areas, though, where coal’s so cheap, it holds its own: coal leases on federal land. Now, recent recommendations about that program could make even those spots less viable. 

Will Trump finally dump the estate tax?

Jan 16, 2017

Estate-tax repeal has been a priority of the Republican Party for years. That’s a tax on estates worth $5.45 million or more. President-elect Donald Trump’s transition team has said his administration would aim to roll back the tax as part of a larger package of tax cuts. How likely is that repeal and what would it mean for the deficit? 

Trump takes aim at NATO

Jan 16, 2017

In interviews with European newspapers this weekend, President-elect Donald Trump slammed NATO. He said the military defense partnership is important to him, but he called the 70-year old alliance "obsolete." He says it's too divorced from the fight against terrorism. But not all experts see it that way.

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Molly Wood

Depending on who you ask, the fifth generation wireless networks (5G) will either herald a totally new era of connected technologies, or just make the internet on our phones a little faster.

At CES, the huge technology trade show in Las Vegas earlier this month, the mood about 5G was good. Mobile chip maker Qualcomm was among the companies making announcements related to 5G. So while I was there, I sat down with Qualcomm CEO Steve Mollenkopf, and I asked him why 5G could be so much more than just faster internet on your phone.

Sleeping like a baby is a $325 million industry

Jan 16, 2017
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Jenny Gold

Lindsay Barrick and her husband  had been trying to get their baby Arlo down for his nap for almost an hour.

“He sounds so miserable,” said Barrick, bouncing her screaming infant up and down. “I know, if you just would go to sleep you'd feel better!”

It would definitely make Arlo’s parents feel better. Since this adorable red-haired baby was born three months ago, they haven’t gotten much sleep.  The previous night, Barrick and her husband Jerry Talkington, who live in Oakland, Calif.,  were up three separate times with Arlo.

1/16/2017: It's Inauguration week

Jan 16, 2017
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Marketplace

Welcome to Inauguration week! On this MLK Day we're looking at three themes of President-elect Donald Trump's campaign: An obsolete NATO, rolling back the estate tax and bringing back coal jobs. We'll talk about the state of all three and how Trump might act on them after he's sworn in Friday. Plus: a chat with the CEO of Qualcomm and how getting your kid to sleep became a $325 million industry.

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Sam Harnett

The desire for increased productivity in Silicon Valley is spawning a new market, for substances under the heading “nootropics.”

Nootropics are marketed as pills that will increase your productivity and boost your brain power. Many in the scientific community question the claims. But in Silicon Valley, nootropics have become part of a subculture that is trying to work as many productive hours a day as possible.

Like many who take nootropics, Daniel Wiggins works in tech. “It started about nine months ago when I was working on my own startup,” Wiggins said.

Why are investors punishing the pound?

Jan 16, 2017

The British pound's sizable fall on Monday; pushback against the World Economic Forum; and the rise of food insecurity on college campuses.

 

MLK Day has become a day of service for many. Those that are off may take the time to volunteer. For others, their employers may provide a day for annual volunteering, a benefit that is especially attractive to younger workers.

Click the above audio player to hear the full story.


Business and political  leaders descend on the Swiss Alpine resort of Davos this week for the latest annual World Economic Forum. They do so against a backdrop of rising populism, and opposition to some of things that Davos has promoted, like globalization. Some critics have attacked the event itself as elitist and blamed it for turning U.S. and European  citizens against free trade. 

Click the above audio player to hear the full story.


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Jennie Cecil Moore

In Seattle, University of Washington senior Taylor Herring combines grants and part-time work to cover tuition and necessities. But toward the end of the quarter, his account gets pretty low.

“I think my second quarter here, after going through my second quarter running out of food, I was like, 'Well, do I need to buy this book?' I mean it’s so expensive, whereas later on I might need that,” Herring said.

Amazon has announced plans to add more than 100,000 full-time jobs over the next 18 months.

The news comes as U.S. companies try to burnish their credentials as a job-creator — a priority of the incoming Trump administration. Amazon’s growth isn’t a complete surprise, however, for a company expanding into so many different product categories.

Click the above audio player to hear the full story. 

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