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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.
Tuesday, July 29, 2014 4:42pm
During these hot summer days, lots of kids are taking advantage of the closest swimming pool, but only a few are diving in for the local swim team. That’s why USA Swimming has kicked off an aggressive campaign to remind kids that swimming is, in their words, “the funnest sport there is.”
One of the ads in the Swim Today campaign shows a girl wearing goggles, dropping into a pool of blue water in slow motion. Then, you hear a voice saying, “Basketball... softball... cannonball... Which sounds the most fun to you?”
Matt Farrell is Chief Marketing Officer of USA Swimming. He says he wants kids to know there are other sports to consider. Farrell says their survey shows parents are one major problem when it comes to getting kids in the pool - 80 percent of parents overlook swimming as an organized sport.
“It was as if parents said, 'I’ve taught my kid to swim, I’ve checked the box, I’m a good parent, I’ve made them safe. Now let’s go play soccer, let’s play basketball,'” says Farrell.
Misha Neal, 15, of Durham, North Carolina swims for her high school team and for the YMCA. She remembers when it was time to make that big decision.
“I was doing a lot of sports at the time... I was also in gymnastics and track, and I had to pick. I remember Daddy telling me that I was better at swimming,” she says.
Misha has thrived, often coming in number one in the 50 Freestyle. USA Swimming is working to remind more kids of all the positives the sport has to offer, like teamwork, confidence, health and fitness.
Mark Anthony Neal, Misha’s dad, says Misha adores her teammates and has overcome the obstacles of swimming competitively.
Even the hair issue: "We knew that our daughter was serious about swimming, you know, when she was told matter of factly she wouldn’t be able to get a perm, she wouldn’t be able to put any chemicals in her hair, [and] she said 'That’s fine.'”
Tuesday, July 29, 2014 10:17am
Tuesday, July 29, 2014 7:00am
In spite of typically slower summer months, analysts are watching today's meeting of the Fed and wondering what the content of the forthcoming announcement will signal. Plus, the white house is arguing that global warming needs to be addressed for both the environment and the economy. More on that report. Plus, as tech companies get larger, so do their voices. More on a new crop of tech lobbyists who are hoping to shape policy.
Tuesday, July 29, 2014 6:00am
The 20-plus companies that are looking to go public this week hope to collectively raise about $6.7 billion dollars, with about half of it for General Electric’s consumer lending firm Synchrony Financial.
"That's going to be a $3 billion IPO, the biggest we've seen since the May, 2012 IPO of Facebook," says Kathleen Smith, a principal with the IPO fund manager Renaissance Capital. She labels Mobileye another one of this week’s "shiny objects." The company makes the technology that tells you when your car might hit the one in front of you. "It has about a 50 percent share of that market, very high growth and very profitable, so all investors are looking at that."
Smith cautions that this week’s batch of potential IPOs is a big one for the market to digest.
It’s also the right kind of market, says John E. Fitzgibbon, Jr. of IPOScoop.com.
"You’ve got to have the bull running down the street and you’ve got to have the wind at its back," he says.
Fitzgibbon thinks this year might even be the biggest one for IPOs since the dot-com bubble, but he points out that a lot of the offerings are fetching discounted prices. This week's IPO frenzy is an "End of Summer sale" that he predicts is just getting started.
"It’s like Macy’s department store; if it doesn’t sell, mark it down and drop it to the basement."
Who are all these companies, anyway? We rounded up the most notable IPOs from this record-breaking week and grouped the companies up according to their business.
Synchrony Financial's IPO is not only the biggest offering of the week by far, but at about $3 billion it's poised to raise more than any IPO this year. Synchrony is GE's consumer finance arm, facilitating store-brand credit cards and financing programs for big-name retailers like Amazon and Wal-Mart.
Of the this week's huge group of IPOs, more than half are for biotechnology and pharmaceutical firms. The biggest player is Catalent, a multi-armed drug development and delivery company that's expected to offer 42.5 million shares at $19-$22 a share, according to Renaissance Capital. Catalent's nearly $1 billion deal dwarfs about a dozen other companies focused on everything from gene therapy to medical imaging to epilepsy treatment.
Mobileye is certainly a "shiny object" this week as it looks to raise half a billion dollars. The Israeli firm is the leading supplier of sensors that detect a potential collision. Investors are keeping a special eye on the company amid rumors of a potential partnership with Tesla to build self-driving cars.
It's no secret mobile gaming is big business, and developer IDreamSky has become a leader by adapting existing titles like "Fruit Ninja" and "Temple Run" for Chinese markets. That model has earned IDreamSky 100 million active users and $65 million in the year ending last March. They are looking to raise a little more than $100 million this week.
There are a handful of energy companies up for offering next week, but the largest is another big spin-off. Transocean Partners, LLC is a small portion of oil rig giant Transocean, which hopes to sell $350 million in shares. Spinning off Transocean Partner's three rigs in the Gulf of Mexico will reportedly offer Transocean more financial flexibility, but the Wall Street Journal notes this practice can be a tax dodge.
Graphic by Shea Huffman/Marketplace
Tuesday, July 29, 2014 6:00am
Veterans often face unique challenges getting conventional employment when returning from military service; challenges which can be compounded when trying to found or staff their own business.
“The first thing they have to do is learn the language,” he said. In fact, one of the chief benefits of an incubator that is veteran-focused is that it teaches participants the language of the business world, which becomes important when pitching the venture to others.
Additionally, he advised veterans reach out to former colleagues in the military who can vouch for their character.
Click the media player above to hear Joseph Kosper in conversation with Marketplace Tech guest host Noel King
June 18, 2013