LA Bluejeans Makers Fear Their Business Will Fade Away
May 24, 2013Los Angeles is home to a large slice of the world's bluejeans trade. But as the U.S. apparel industry continues to shrink, the city's high-end bluejeans business faces a threat. The European Union has imposed a nearly 40 percent tariff, which could cripple the city's jean business.Read full story...
Battered Jersey Shore Pins Recovery Hopes On Summer Season
May 24, 2013Seven months after Hurricane Sandy slammed into the Jersey Shore, Asbury Park is still waiting for insurance and federal aid money. In the meantime, it borrowed $10 million to repair the waterfront in time for the critical Memorial Day weekend.Read full story...
Housing Market Recovers Though Economy Lags Behind
May 24, 2013
Robert Siegel talks with Adam Davidson from Planet Money team about this week's cluster of positive data on the health of the U.S. housing market. Davidson says the strength of the housing sector is now irrefutable, even though a broader economic recovery is still years away.
What Has Been Driving Stock Prices Up?
May 24, 2013
The U.S. stock market indices are up 15 percent so far this year. Renee Montagne talks to David Wessel, economics editor of The Wall Street Journal, about the week in stocks. What's behind the broader rally this year, and why did things get rocky this week?
Being Blind To Financial Need: Is It Worth It?
May 23, 2013
Millions of students rely on loans and grants for their studies. But with universities strapped for cash, fewer schools are able to admit students regardless of their financial need. Host Michel Martin asks the President of Iowa's Grinnell College, Dr. Raynard Kington, why his school considered putting a halt to need-blind admissions.
Production Of New Vehicles Predicted To Hit 2002 Levels
May 23, 2013Strong new-vehicle sales lead industry analysts to revise their forecasts for North American production levels in 2013, with J.D. Power & Associates and LMC Automotive predicting 16 million units will be produced — a mark not hit since 2002.Read full story...
Jobless Claims Drop, But Stay In Recent Range
May 23, 2013There was more of a decline than economists expected, but the weekly pace hasn't really changed much since late 2011.Read full story...
When Will Fed Officials Ease Off The Accelerator?
May 23, 2013
Federal Reserve chairman Ben Bernanke told Congress Wednesday that the central bank is not ready to scale back on economic stimulus. But he suggested the Fed may start to pare back bond purchases if the economy picks up momentum. Stocks fell following Bernanke's remarks.
Goldman Sachs Is Doing Well. So Is Its CEO, Lloyd Blankfein
May 23, 2013
Big bank Goldman Sachs holds its annual shareholder meeting Thursday. Five years ago, during the financial crisis, Goldman's CEO Lloyd Blankfein was a poster boy for overpaid executives. To find out how much he is making now, Renee Montagne talks Neil Weinberg, editor in chief of American Banker.
Bernanke: Economy Still Too Shaky To End Low Interest Rates
May 22, 2013
Over the past several years, the Federal Reserve has added trillions of dollars to its balance sheet, purchasing bonds in order to stimulate the economy. Many investors have been concerned that when the Fed starts selling off those bonds it could create turmoil in the markets. But in congressional testimony Wednesday, Fed Chief Ben Bernanke said the Fed might not sell off those bonds at all.
Go East, Young Marijuana Dealer
May 22, 2013A San Francisco dealer quadrupled his income by moving to New York after California legalized medical marijuana.Read full story...
Powerball? America Already Hit The JackpotMay 22, 2013Host Michel Martin says America deserves a Bentley for peoples' dedication to do the right thing. She shares her thoughts on wealth and the American dream in her regular 'Can I Just Tell You' essay.Read full story...
Bernanke Hints That The Economy Still Needs Help
May 22, 2013The Fed chairman cautioned Wednesday that if interest rates were to start rising now, the economy could slump. Meanwhile, the National Association of Realtors said sales of existing homes rose — and would have been even stronger if not for tight inventory.Read full story...
Instead Of Snoozing In Savings, Let's Put $5,000 To Work
May 22, 2013It's a hard time to be a saver. The return on a savings account doesn't even keep up with inflation, and that has led many savers to ask: What should I do with my money? NPR's Uri Berliner takes $5,000 out of his own personal savings and explores various investment opportunities.Read full story...
Young People Cast Out Of Italy's Welfare System
May 21, 2013
In Italy, the youth jobless rate is nudging 40 percent, a record high in post-war history. Demographer Stefano Rosina says the Italian welfare system has always been skewed toward the middle-aged and elderly, leaving Italian youths with no political or trade union representation.
Poverty, Still Coming To A Suburb Near You
May 20, 2013
When you think about poverty, you might picture dilapidated urban neighborhoods or rural areas. But a new book says the rate of poverty in the suburbs has grown by 64 percent in the past decade, and doesn't show signs of stopping. Host Michel Martin speaks with Elizabeth Kneebone, author of Confronting Suburban Poverty.
Asian-Americans: Smart, High-Incomes And ... Poor?
May 20, 2013
Asian-Americans have the highest income and education levels of any racial group in the country. So it might be surprising that they have a higher poverty rate than non-Hispanic whites. Michel Martin discusses the issue with Algernon Austin of the Economic Policy Institute and Rosalind Chou, co-author of The Myth of the Model Minority.
Pledging Not To 'Screw It Up,' Yahoo Seals Deal For Tumblr
May 20, 2013Yahoo will pay about $1.1 billion for the six-year-old blogging site. Tumblr's leadership won't change and Yahoo promises it will be independently operated.Read full story...
Advocates Struggle To Reach Growing Ranks Of Suburban Poor
May 20, 2013The number of poor people living in America's suburbs now surpasses those in cities or rural areas. Long focused on the urban poor, social service agencies are now trying to respond to the basic needs of a much more far-flung population.Read full story...
Boom Or Bust? Saving Rhode Island's 'Superman' Building
May 19, 2013The iconic Industrial Trust Tower in downtown Providence is empty for the first time in 85 years. Developers want to turn it into luxury apartments — and want the state and city to pay for it. But Providence — like the rest of Rhode Island — faces its own economic problems, as well as a recent failed investment.Read full story...