Marketplace on WVTF, RADIO IQ & RADIO IQ w/BBC News

Weekdays at 6:00 PM on WVTF and 6:30 PM 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. 

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 and RADIO IQ With BBC News.

Composer ID: 

Program Headlines

  • Wednesday, July 23, 2014 6:00am

    Almost 80 percent of respondents in a recent Harris poll blame big banks for the financial crisis. The poll was commissioned by smaller banks.  

    They're using it to smack the big guys by running TV ads that say, 'hey, we’re the good guys.'

    But the commercials haven’t made a dent yet in big bank dominance. 

    “If you go back to 1994, the community banks and credit unions had about a 70 percent market share. Today, the community banks and credit unions have less than 30,” says Gabe Krajicek, CEO of Kasasa, which supplies high-tech services to small banks.

    Krajicek says consumers think they can only get the latest mobile banking apps from the big banks.  

    There’s another reason we stay with the megabanks, even if we hate them: convenience. 

    “If you have to drive five miles to use your ATM, most people don’t like that,” says Bill Black, an economist at the University of Missouri at Kansas City.

    Black says community banks are able to make a lot of small business loans, but only because the big banks won’t bother with them. 

    See the infographic below to see some more stats about local banking:

  • Tuesday, July 22, 2014 5:51pm

    By 2015, the Obama administration will evaluate colleges on average tuition cost, low-income student enrollment, graduation rates and job earnings after graduation.

    When they released this proposal last year, the higher education community generally disagreed with their criteria. One strong critic is Drew Faust, the president at Harvard University. Here are some measurements she thinks are important to consider:

    Measurement: Jobs, but not salaries.

    Faust is not opposed to focusing on kinds of work students can do after they graduate. However, she believes emphazing earnings at a first job distorts the picture.

    "Some of our economists at Harvard have done analysis of this, and find that you really only begin to get an accurate reflection of lifetime earnings if you look at 10 years out. So I think they’re looking hard at more nuanced ways of measuring output of education.”

    Measurement: The percentage of students on financial aid.

    Of course, she cites the stats from Harvard: They accepted 5.9 percent of the 24,294 applicants for the entering class of 2014, and Faust says they have expanded financial aid programs so that those select few can actually afford to enroll.

    "We have a financial aid policy that supports 60 percent of our undergraduates," she said. "They pay an average of $12,000 a year."

    Faust also said that about 20 percent of Harvard's class makes no parental or family contribution at all.

    Measurement: How digital-forward teaching is.

    The big push at Harvard right now is digital — Harvard edX, where anyone can take classes from their computer. Faust says this provides acess to the knowledge and research for students, researchers and educators around the globe. 

    "We get many students from Asia and Europe," she says, "and our students expect to live their lives and practice their professions and fields in a global environment."

    Faust also says learning and "the fundamental value of learning and challenging ourselves in the realm of research and relating our research and teaching" are key principles to any education system. She thinks its better to focus on how education and learning can better a student, rather than how much they will make.

  • Tuesday, July 22, 2014 5:39pm

    We've all heard Congress is in recess more than it's actually in session, but there's more to the story.

    It turns out Congress working during August is actually against the law.

    Congress will recess for its summer break next Friday because the Legislative Reorganization Act of 1970 says it has to  according to the Washington Post.

    In fact the House and Senate shall recess, "not later than July 31 of each the second day after Labor Day."



  • Tuesday, July 22, 2014 5:39pm

    The Labor Department released Tuesday its monthly measurement of inflation, called the Consumer Price Index. According to the report, prices inched up from May to June, but just barely. Overall, the CPI was up 0.3 percent last month. And if you take out volatile stuff like food and energy, as the Labor Department likes to do, prices rose just 0.1 percent.

    Although inflation is still pretty modest right now, it doesn't always feel like it, says economist John Canally with the brokerage firm LPL Financial.

    “Most of us drive past the gas station every day; most of us go to the grocery store and have to buy staples. On the stuff that we see every day, those prices tend to be rising at a faster rate than the rest of the price deck,” he says.

    Meanwhile prices for stuff we don’t buy on a daily basis, such as a flat screen TV or a car, have actually fallen slightly in the last month. When you add all those trends up, inflation is sluggish. But so are workers’ wages. They're just barely keeping pace with inflation. Meaning, for the time being, businesses need to keep prices pretty low.

    “It's really hard to get the price increases at the taco stand or at the burger joint or anywhere else to stick if people don't have enough money or enough wages to pay those price increases,” Cannally says.

    With wages and prices at a sort of deadlock, the bogeyman of runaway inflation that we saw in the 1970s just is not a threat right now, says Mark Kuperberg, an economist at Swarthmore College.

    “People need to chillax a bit about it - chill out and not worry so much,” he says.

    While runaway inflation may not be a worry, we don't want to head toward deflation, either, warns Sarah Watt House, an economist at Wells Fargo Securities.

    “We don’t want to see prices going down so low that nobody goes out and buys anything because they assume that prices will be cheaper tomorrow,” she says.

     We're trying to hang on to an economy where the prices aren’t too hot, aren’t not too cold, House says. “It’s the Goldilocks’ sweet spot.”


  • Tuesday, July 22, 2014 5:39pm

    It’s like an episode of  “Hoarders.” Corporate America can’t stop collecting cash. 

    “I think most CFOs would not admit they’ve hoarded too much cash,” says John Graham, finance professor at Duke University.  

    He estimates that  companies have about 50 percent more cash on their balance sheets than they did 10 or 15 years ago.

    Is it time for an intervention?  

    “They did just live through the financial crisis,” he says. “They think they're being prudent, you want to hold your cash, in case it becomes difficult to borrow down the road.” 

    Non-financial companies — like Microsoft and Merck — had a total of $1.6 trillion in cash at the end of 2013, according to Moody’s.

    “A lot of money is effectively just sitting there.” says Richard Lane, a senior vice president at Moody’s. “And, where it’s sitting increasingly is offshore.” 

    It’s locked up overseas, mostly to avoid U.S. taxes.

    “I don’t need Apple to save money. My local bank or credit union will handle it for me just fine,” says David Cay Johnston, a lecturer at Syracuse University’s College of Law. Corporate hoarding affects the economy. 

    “What you’re not seeing them do with this cash is invest in new factories and research operations, which would create jobs and fundamentally grow the business,” Johnston says.

    There are signs companies are loosening up a little. Apple just made its biggest-ever acquisition, spending $3 billion to acquire headphone maker Beats. 

    And activists are increasingly pressuring companies to give more of their profits back to investors.  

    In a recent survey of CFOs,  about half said their companies are going to invest in their businesses soon. But the other half? They’re not budging.


September 12, 2013

6:03 PM
Anything New
Artist : Bibio
Album : Mind Bokeh
Composer :
Label : Warp Records