Marketplace on RADIO IQ

Weekdays at 6:30 p.m. on RADIO IQ
Kai Ryssdal

Marketplace with host Kai Ryssdal produced and distributed by American Public Media focuses 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, weekdays at 6:00 pm on WVTF and 6:30 pm on our RADIO IQ and RADIO IQ With BBC News networks.

Be sure to check out the  Marketplace Morning Report weekdays at 9:51 on RADIO IQ andRADIO IQ With BBC News.

Composer ID: 
5187f8c9e1c84d4a4b12564c|5187f8c5e1c84d4a4b12563e

Program Headlines

  • Monday, April 20, 2015 7:00am

    Today, China used a central tenet of banking to bring new vigor to the economy there. More on that. And later this week, the International Basketball Federation and the NBA are holding a development camp in Havana. We'll talk about what is considered the first big foray into Cuba by big name sports. Plus, as we've been hearing this morning, just two dozen bodies have been recovered after a ship carrying hundreds of migrants bound for Europe sank off of Libya on Saturday. Estimates of the number of those aboard range from 700 to perhaps 1,000 people. We talk to Mattheo de Bellis, who focuses on Europe for the human rights group Amnesty International.

  • Monday, April 20, 2015 6:14am

    Hasbro has long been known for brands like Nerf and G.I. Joe.  But last year it snatched a contract from the hands of rival Mattel: the Disney princess contract.

    Jaime Katz, an analyst for Morningstar who tracks Hasbro, says that contract is worth around $300 million per year. And of course, it includes the famous princess sisters Elsa and Anna from the hit film Frozen.

    But licensing isn't the only growth strategy for Hasbro. It still sends reps to game inventor shows and develops relationships with the people whose ideas become hit card games, according to Mary Couzens, founder and CEO of the Chicago Toy and Game Group. 

    Click the media player above to hear more.

  • Monday, April 20, 2015 6:00am

    Years ago, under another name, the shop at 2900 West 87th Street, on Chicago’s South Side, was a convenience store, which happened to sell lottery tickets. Then, Mr. Chan Park took over and turned it into Lucky Mart— a kind of Lottery Tickets ‘R’ Us. Park sold more than $5 million worth of tickets last year. 

    Lucky Mart's tellers sit behind thick glass at the ticket windows. There are still Honey Buns and chips on the shelves, but nobody buys any—at least, not in the hour-and-change I spend here. The ticket machines, however, never stop ringing and buzzing.

    Chan Park came to the U.S. from South Korea in 2001 and bought a laundromat. A few years later, he took over this store. 

    However, with three big discount supermarkets right nearby, he knew he needed to reinvent the business. "I thought, I don’t have any competitive power for that kind of grocery," he says.

    Not for groceries. But he knew the store had sold a $28 million lottery ticket, and that seemed worth building on. He re-branded as Lucky Mart. Park says he believes there’s something lucky about the location.

    He doesn’t mention it, but the location has another advantage: This is a primarily African-American neighborhood. Research shows African-Americans play the lottery a lot more than other groups.

    About ten minutes into our conversation, we’re interrupted by a visit from Park's sales rep from the Illinois lottery accompanied by three regional officials.

    They say they had no idea a reporter was coming. They're here for what's become an annual ritual: Awarding Park a plaque commemorating his success as the operator of the state lottery's top-grossing location. 

    The officials agree that the store’s focus and location — explain that success.

    Also, customer service — in particular a clerk named Becky Reidy, who has been selling lottery tickets here since before Mr. Park took over.

    Frank Taylor, the Chicago area’s sales director, calls her the best he’s ever seen. "She’s super with the players," he says. "She knows all of our games, she knows all of our promotions. And she’s, like, really into the lottery."

    To Reidy, I admit: I’ve never played the lottery.

    "Don’t start," she says. "Bad habit!" 

    She smiles— and laughs, a little nervously —but she seems to mean it. She says she doesn’t play anymore.

    I ask her if she feels a little funny about selling it.

    "Oh sure," she says. "I know the economy sucks. Money could go elsewhere."

    One economist found that, when people buy lottery tickets, they’re often using money they would have spent on household necessities—like food.

    "I could never work in a casino," Reidy says.

    But here’s the thing: Casinos are arguably less of a rip-off than the lottery. 

    In Illinois, and around the country, about 60 percent of what lottery customers spend on tickets comes back as prize money. At slot machines, where casinos make the most money, it’s often more like 90 percent.

  • Monday, April 20, 2015 6:00am

    The NBA and the International Basketball Federation are playing host to a basketball development camp in Havana this week.

    That propels the NBA into sports history: it will be the first American sports league to visit Cuba since President Barack Obama restored diplomatic relations. Cuban Basketball Federation President Ruperto Herrera was quoted in an NBA press release as saying, “This is a great day for Cuban basketball and our federation.” It’s also pretty savvy on the NBA’s part.

    Click the media player above to hear more.

  • Monday, April 20, 2015 6:00am

    Traditional celebrity gossip—be it in print, on television, or written about online—deals in the real world goings-on of celebrity life. But a popular Instagram account is garnering attention for looking at the social media lives of those in the entertainment industry. The Shade Room, as it’s known, focuses on how well-known personalities interact in forums like Twitter and Instagram. 

    “It’s very much kind of an intra-instagram kind of network,” says Jenna Wortham, technology reporter for The New York Times, who recently wrote about The Shade Room, calling it Instagram’s very own “TMZ.”

    “You’re going to see lot of things very specific to social media,” says Wortham. “It tends to focus on when Rihanna and Nicki Minaj are having a back and forth on instagram. It captures that and posts it. It aggregates all of that it in one space.”

    Wortham met and interviewed the founder of The Shade Room, a 24-year-0ld woman named Angie, who wants to be known only by her first name.

    Given the popularity of her ‘Insta-blog,’ why is she so secretive?

    “She knows that the appeal of Shade Room is that it kind of has this sort of Oz-like omnipotence,” says Wortham. “To show the wizard behind the curtain would remove some of  the mystique and the mystery.”

    It’s smart decision on her part, adds Wortham, because the mystery keeps things more fun and interesting.

    Angie runs the blog with the help of a handful of employees. The Shade Room started out on Instagram, but since then it has launched a regular blog. It also has accounts on Facebook and Twitter, and advertises on all of these platforms.  

    Could this turn into a breaking news site for celebrity news?  “I think down the line absolutely it could be a place where people break news or want to make announcements or talk about an album release or a new concert tour,” says Wortham. “I dont think thats’ out of her reach at all.”

     

Playlist

March 31, 2015

6:57 PM
The Afterlife
Artist : YACHT
Album : See Mystery Lights
Composer :
Label : DFA Records