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Marketplace on RADIO IQ
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.
Wednesday, April 23, 2014 11:16am
David Einhorn, a pretty big name among activist investors, made headlines yesterday with his “bubble basket” and for saying that there’s now a consensus that there’s a tech bubble.
Activists investors buy a large chunk of stock in a company with the goal of pressuring management to make changes. At the Active-Passive Investor Summit in New York, Einhorn said his “bubble basket” is a group of stocks he’s shorting, or betting that the price will go down. While he didn’t companies, we can assume there are tech stocks are in that basket. Einhorn is betting that some stocks might fall by as much as 90 percent.
Activists investors also raised bigger issues. Jeff Ubben, a notable west coast hedge fund investor, called into question executive compensation at the tech companies. He singled out Google’s Eric Schmidt and his $100 million pay package in 2011, which Ubben thought was outsized. Ubben noted that same year, JP Morgan Chase’s Jamie Dimon was “hauled over the coals” for getting paid $20 million.
The tech companies haven’t responded to the criticism but upshot from the summit was that tech companies need to be put under more scrutiny.
Wednesday, April 23, 2014 10:01am
Rick Warren, author of the best-seller "The Purpose-Driven Life," is expanding his Saddleback Church from the Los Angeles suburbs to 12 global cities. Last weekend, a campus in Los Angeles joined Buenos Aires, Hong Kong, Manila and Berlin. Moscow, Tokyo, and Accra are among those coming soon.
Scott Thumma, an expert on mega-churches from the Hartford Seminary, isn't surprised: He says the megachurch is a global phenomenon. Of the world's top 20 megachurches, only one is in the U.S.
"If you just look at it in the United States, you see it as a suburban reality," he says. "It's kind of recreating a kind of small-town connectedness with people who have like values and interests," he says. Around the world, he says, that's "what we're all longing for, in the anonnymous urban setting."
Seoul is the world leader in mega-churches. Its Yoido Full Gospel Church boasts almost a half-million churchgoers per week. And it's not the only one.
Top 20 Megachurches, Worldwide
Rank Attendance Church Name City Country 1. 480,000 Yoido Full Gospel Church Seoul Korea 2. 75,000 Deeper Christian Life Ministry Lagos Nigeria 3. 75,000 Mision Cristiana Elim Internacional (Elim Central Church) San Salvador El Salvador 4. 70,000 New Life Church Mumbai India 5. 65,000 Onnuri (All Nations) Community Church Seoul Korea 6. 60,000 Pyungkang Cheil Presbyterian Church Seoul Korea 7. 55,000 Victory Metro Manila Manila Philippines 8. 50,000 Living Faith Church (Winner's Chapel) - main campus Lagos Nigeria 9. 50,000 Apostolic Church Lagos (Ketu) Nigeria 10. 50,000 Yeshu Darbar (Royal Court of Jesus) Allahabad India 11. 50,000 Nambu Full Gospel Church Anyang Korea 12. 50,000 Bethany Church of God Surabaya Indonesia 13. 50,000 Igreja de Paz Santarém Brazil 14. 45,000 Evangelical Cathedral of Santiago (formerly Church of Jotabeche) Santiago Chile 15. 43,500 Lakewood Church Houston U.S.A. 16. 42,000 Comunidad Cristiana Agua Viva (Living Water Christian Community) Lima Peru 17. 40,000 Redeemed Christian Church of God Lagos Nigeria 18. 35,000 United Family International Church Harare Zimbabwe 19. 35,000 Kwanglim (Burning Bush) Methodist Church Seoul Korea 20. 35,000 Word of Hope Church Quezon City Philippines
A lot of mega-churches now have multiple locations.
"You get to a point where it becomes a franchise model," says Thumma. "It's easier and more cost-effective to plant several campuses around town."
Like McDonald’s, the experience is the same wherever you go, including a variety of more-intimate worship settings in a single campus, with the pastor beaming in his sermon via closed-circuit.
Warren has an advantage for someone growing a church: worldwide fame. His book has been translated into 85 languages.
Here's a map of mega-churches in North America, based on a database Thumma has compiled.
Wednesday, April 23, 2014 6:31am
Hollywood is no longer the go-to place for shooting feature films and TV shows.
Just eight percent of big budget Hollywood films were made in LA in 2013, down from 65 percent in 1997. And from 2005 to 2013, California's share of one-hour TV series dropped from 64 percent to 28 percent.
Why the big exodus? States like Georgia, New York and Louisiana -- and countries like the UK and Canada -- are offering attractive tax subsidies to lure filmmakers.
Los Angeles Mayor Eric Garcetti has declared a "state of emergency" in the local film and TV production industry.
The Association of Film Commissioners International held their convention in March at the Hyatt Regency hotel in Century City. It’s been called “The Poacher’s Convention.” Dozens of booths lined a big hotel banquet hall. Each one promoted the natural beauty of their state or country -- and their generous tax incentives.(Frazer Harrison/Getty Images)
A sign atThe Association of Film Commissioners International (AFCI) Tradeshow in West Hollywood, California.
“The show is called ‘Locations Trade Show’ but it’s really not about locations anymore, it’s about incentives, and North Carolina is a 25 percent fully-funded rebate,” said Aaron Syrett, the North Carolina Film Commissioner.
The movies “Iron Man 3” and “The Hunger Games” and the TV shows “Homeland” and “Sleepy Hollow” were all shot in North Carolina. The state spends $80 million a year on those rebates.
But, Syrett said, his state isn’t really competing with California. “We’re competing with Georgia and Louisiana,” he said.
States like Utah also offers filmmakers a 25 percent discount. To drive the point home, the wallpaper in Utah’s booth was just the number “25%” repeated in a huge font.
“The business is here in Hollywood. We want to keep it here. Everyone here wants to take it away,” said Art Yoon with Film LA, the group that issues permits to shoot in Los Angeles. “I mean, we have a $100 million tax credit, that’s not nearly enough. We’re going to have to up that if we want to be serious about keeping the industry here.”
California, by all accounts, hasn’t kept up. The state has a lot else going for it: local talent, sunny weather, and a support system, like caterers and electricians.
But documentary filmmaker Deborah Rankin said it ultimately comes down to dollars and cents: “Especially as an independent filmmaker, it’s really, it’s hard. It’s hard raising the money, and you’ve gotta make it go as far as it can,” Rankin said.
Filmmaker Dan Gagliasso is working on a Bosnia-Kosovo war film, and plans to shoot it in Minnesota, largely because of generous tax credits – especially if you shoot in the northern part of the state. And, he said, the red tape in Los Angeles makes shooting there more difficult.
“You know, if you say the wrong word, suddenly you have to have a study because you’re crossing a stream with a horse. It’s like, ‘Well gee, it’s a private horse ranch, that horse crosses that stream every day!’ They don’t care. It’s bureaucracy,” Gagliasso said.
Hollywood filmmakers are hoping California lawmakers will pass a bill that would extend the state's current $100 million a year film production tax credit. The bill would also expand the range of films eligible to apply for tax credits, and would open the credits to television pilot production. Its main opponents are education groups who are lobbying for more school funding rather than increasing production incentives.
Wednesday, April 23, 2014 5:00am
If you're of a certain age, you'll recognize this familiar sight:
From the VHS of yore, this bright green FBI warning prohibited the "public performance" of any content. That distinction between public and private is what will largely decide the outcome of Aereo's case. Aereo argues that since the content is going directly to a customer, it's not that different than picking up a TV signal via an antenna you might buy and set up in your house. Or as CEO Chet Kanojia puts it, it's what makes it legal for you to sing a Miley Cyrus song in your shower: no one but you is enjoying/suffering through that performance but you.
But there's more than just television at stake in this case, something that everyone involved seems to be aware of. Cloud computing companies in particular are keeping a watchful eye on how this all plays out.
A lot of companies that rely on the cloud are worried that depending on how the court rules, it could mean companies will need to look differently at the content on their servers, including issues of copyright and licensing.
Tuesday, April 22, 2014 7:00pm
You've seen those high-tech bracelets worn by everyone from Oklahoma City Thunder hoops star Kevin Durant to Apple CEO Tim Cook. And yet, Nike reportedly is going to shutter the division, and lay off the engineers, who make the athletic company's FuelBand wearable fitness tracker.
Is the wearable fitness device market slowing down? No, not really. In fact, for many, the standard Fitbit or calorie-counter apps are too basic. Check out these unconventional additions to the list of tech aimed at getting you in shape.
Not everyone can afford a personal trainer or a life coach who takes responsibility for their clients' health. That's where Coach Alba comes in. After answering a survey on pivotal moments in daily life, Coach Alba is designed to text users during "crucial moments" to remind them of goals, and to encourage good behavior. If, for example, late night snacking is your vice, Coach Alba will ping you in the evening with reminders of what you've already eaten that day. Find out more about Coach Alba here.
If you think words are cheap, then Pact might be the right phone app for you. Aside from allowing you to track your diet and exercise on your phone, Pact adds the element of financial reward if you keep your set goals. Your pay off comes at the expense of fellow users who did not make it to the gym when they said they would, or those who ate a donut instead of a salad. Be warned: fail at meeting your goals, and you end up paying more successful Pact users with your hard earned cash. Find out more about Pact here.
Like Pact, GymShamer uses public accountability as motivation. Unlike Pact, you pay with your dignity, not your money. GymShamer is set up to notify your friends via your social media accounts when you miss a trip to the gym. Winner of a Foursquare hackathon in January, GymShamer may be coming to an embarrassing social media debacle near you. Find out more about GymShamer here.GymShamer
If you're a gamer, gameplay advantages may be more your speed. The Striiv Pedometer rewards the amount of steps you've taken by providing goods for a Farmville-esque game on your phone and computer. In this case, you're populating an enchanted island with trees and animals. It's like Lost, but with rewards for people who continue to pay attention. Find out more about Striiv here.
Speaking of gaming and fitness, "Zombies, Run!" is an app that places the user in the middle of a post-apocalyptic dystopia where running isn't just for exercise, it's for survival. Like Striiv, the more you exercise, the more rewards you receive. Unlike Striiv, you're also running for your life. "Zombies, Run!" will instruct the user on how far they have to go in order to escape the hoarde of imaginary zombies following close behind. Think "Running Dead," not "Walking Dead." Find out more about "Zombies, Run!" here.
September 23, 2013