30 Burst results for "Amy Scott"
The pandemic is putting electronic medical records to the test
"To slow the spread of the coronavirus testing is hugely important, not just getting a test but getting the results back as quickly as possible. A recent survey found that the average wait time for results is four days with ten percent of the people surveyed waiting ten days or more a shortage of the equipment and chemicals needed to perform the test is part of the problem but the country. Also lacks bust electric medical records system which would allow information to be shared seamlessly. We wondered how much is that slowing everything down Julia? Adler. Milstein is a professor of medicine at the University of California San Francisco where her research focuses on electronic health records. I asked her if part of the problem is all the different software providers, companies like epic and Care Cloud and Athena health not. Playing nicely together I do think there's a roadblock there I mean that's really been an Achilles heel of the past decade where we've seen so much more digitisation of health information but not as much of an effort put on making sure that that information can move around seamlessly where it's needed and I think in an ideal world. Yes. Those large companies would have cooperated and figured out how You. Build their systems in a way that we're more compatible but we also didn't really create strong incentives for them to do that, and now we're working to try to correct that and I think covert has shown a really bright spotlight on the need to do that. But but it wasn't there from the start and I think we're really paying the price for that. Now What about privacy concerns? With information being shared more widely in more places I. Wonder if patients sort of opting out may be part of the the hurdle here. It is and I mean privacy concerns. You know go go hand in hand with greater ability to move and share information because you want to be sure that it does end up in the hands and not the wrong hands and that and that the patients are involved in that in the way that you know is appropriate until I think one of the issues that that is hard to know is sort of in what what level of of detail or granularity patient want to be involved in managing. You know who sees their information and for what purposes. into do that at scale is really hard because we know different people have different preferences over all and for specific types of information, as well as for whether it's a payoff for example, like what they might want to share with health insurer versus their doctor. So it gets very complex very quickly. So I think everyone agrees we should have the privacy protection, but actually implementing that privacy protection control is is where it gets pretty pretty complicated. I'm also wondering about the cost of all this I know the federal government has already spent tens of billions of dollars to encourage the adoption of electronic medical records. Do you have a sense of the price tag on what this effort could cost to get it? Right I don't think we've really seen good cost estimates because part of it is sort of what are we paying for I don't think at this point we're really paying for the infrastructure. This is really about linking up all of the digital entities and writing down rules of the road. I. Don't think anyone really has a sense of the Price Tag. You know my personal sense is that it would be lower than the investment that we've made so far because there's so much cost just the digitisation itself. But there's also some real costs in in in trying to figure out how to make all the different systems talk to each other, but potentially lots of savings to I imagine. Oh absolutely there have been some estimates of that and they've been in this sort of seventy to eighty billion dollars. A Year of potential savings if we really were to get to sort of fully standardize seamless information sharing a fact that hospitals are filling out spreadsheets with their covid testing data and sending it to the federal government, it's staggering to think that we're still doing that you know in the year twenty twenty. But then also to think about all the costs of all the people in those hospitals who are manually entering data into a spreadsheet, it's sort of hard to believe. Yeah, and if I never have to try to remember when my knee surgery was when I see a new doctor. It'll be too soon. How many of those health questionnaires if we all filled out again and again? Yeah. No. On the patient side exactly I mean, we haven't even addressed those costs and also just I think that the stress that we put on patients when it's clear that their doctor doesn't know their medical history and so if you were to show up today and you know tell your doctor that you've had cova test and then for that doctor to say, Oh, well, I don't have any way to access that information at his not delivering patient centered. CARE. Julia Adler Milstein is a professor of medicine at the University of California San Francisco. And now for some related links, another wrinkle in all this, just because you're test results are in the system doesn't mean your doctor we'll see them right away. These are busy people with lots of patients counting on them. Adler Milstein says so far. The solution is just hanging doctors with lots of alerts, which if you've ever had to mute a group text chat, you know can create notification fatigue, and while most hospitals now have some kind of electronic health records system public health departments are still far behind relying on. Phones and even fax machines to share information. That's the subject of an episode of the health podcast trade-offs from my former marketplace colleague Dan. Guerrero tiene molly had him on this show awhile back Dan found that technology and data gaps key public health officials dangerously out of the loop, the fight, the spread of Corona virus. We have a link at marketplace tech DOT ORG along with results from a survey from the Pew. Charitable trusts found that most Americans support to improve how medical records are shared between providers but have since. Concerns about privacy and accuracy and respondents were generally less comfortable with the sharing of sensitive information like Substance Abuse Mental, Health Issues and homelessness factors that can influence health but also potentially how patients are treated I'm Amy Scott and that's marketplace tech.
How the Federal Reserve’s “discount window” works
"I'm thinking the best way for us to frame things today. When just how different things are has now? Become so clear is do what we've done a couple of times. The past couple of weeks macro micro big picture to actual people in an economy that is coming to a very sudden stop. You don't get much more big picture of course than the Federal Reserve on a Sunday afternoon pulling out. Maybe not all but certainly a whole lot of the stops that had has that huge cut in their short-term interest rate that you have heard about Shirley and other big bond buying program echoes of the financial crisis to be sure also a cut in something called the discount rate short-term emergency loans dispensed through what is known as the discount window sounds a tad. We D I know but in reality it is so big picture because what we're talking about here is the Fed making some really big moves to keep credit flowing to households and businesses marketplace's. Amy Scott gets us going with what the discount window is and why it is so important in a crisis. Think of the discount window as a shot of. Wd Forty if advanced is short on cash to cover customer withdrawals or make loans it can borrow money short-term directly from the Fed in effect it's kind of keeping the finances lubricated during a stressful time banking consultant. Burt Ely says the problem is banks are reluctant to reach for the Kellyanne. Borrowing from the Fed is usually more expensive than borrowing from other banks and Joe Gagnon with the Peterson Institute for International Economics says that looks bad. I mean if a bank has to pay a higher rate to get credit it's usually because other banks are leery of landing to it so it looks like it might be in trouble. The Fed is trying to reduce that stigma by slashing the discount rate and by urging banks to use it and not add. Mahdi teaches finance and economics at Stanford. If they say well please come. Please come which they also did during the financial crisis. Then it's like everybody's doing it and it's okay and it's legitimate. It could help the J. P. Morgan Chase recently said it plans to use the discount window to help break that stigma. Gerard Cassidy an analyst with RBC capital markets says bank balance sheets are really strong right now partly because of nervous customers. There's been an influx of deposits for the safety of the FDIC deposit insurance. So I don't think the banks are going to be forced to go to the discount window but he says better to get them comfortable with the idea before. There's a real
What China wants with Equifax data
"That big Equifax data breach couple years back. Hackers got hold of the names birthdates and social security numbers of one hundred forty five five million of US federal prosecutors announced charges in that case today charges against four members of the Chinese People's Liberation Army. This is the latest. If by far the largest in a string of hacks that American officials have tied to Beijing. Marketplace's Amy Scott has more now on how China might use that trove of data. It's got in a press conference attorney. General William Bar described the equifax breach as more evidence of China's voracious appetite for Americans personal data including the theft of personnel records from the Office of personnel management the intrusion into Marriott hotels anthem health insurance companies and and now the wholesale theft of credit and other information from Equifax. Chinese officials have denied any connection to previous hacks but cybersecurity. I security experts say there are lots of reasons China might want that data priscilla more. Ut is a researcher with the security intelligence firm recorded future richer. She says sensitive financial information like debts could be used by Chinese spies to target potentially vulnerable Americans so building thank profiles of individuals that could be susceptible to recruitment by Chinese intelligence services. Georgetown Professor Ben Buchanan wrote a book about Cybersecurity. Called the hacker and the state he says the data could also help China identify Americans operating undercover in Beijing. But my guess is the biggest determining factor. Here Why the Chinese did this is they could and Why not take it and why not see what might be useful down the line Buchanan? You can and says it's exceptionally unlikely. Chinese hackers will see the inside of an American courtroom but the charges do send a message that the US government is trying trying to track and deter foreign hacking. I'm AMY SCOTT FOR
Remembering Paul Volcker
"Here's the thing about Paul Volcker the former chairman of the Federal Reserve arguably one of the most influential of Fed shares. Who died it yesterday at the age of ninety two? Yeah it's kind of an amazing story that's author and New York Times editorial board member beaming Applebaum on this show about a month or two ago. He used to cover the Fed for the Times. When Paul Volcker I started at the Federal Reserve he worked basically as a human calculator in an office deep inside the Federal Reserve? There Have Bank of New York in the early nineteen fifties and he told his wife one night that he didn't think he had a future at the Fed that as an economist he was always going to be consigned to being essentially. Actually you know A worker bee at this institution that was run by financial market types businessmen. Those even a Iowa Hog farmer there and he didn't think that he had much chance of getting ahead. Suffice it to say Paul Volcker got way ahead at the Federal Reserve. Jimmy Carter picked him to run the Central Bank in nineteen seventy nine with inflation and this is important headed toward almost fifteen percent. I ask Carter about that about the economic and political fallout from picking Volker when I interviewed the former president in two thousand ten so I went looking as I Picked up this book. I went looking for the name. Paul Volcker who You pointed to the Fed in nineteen seventy nine. You don't come across crosses name until page three hundred and forty something and it's really funny because it is dismissed in a sentence. Paul Volcker came in We decided we could work with him. And then the the next day bang you name to defend that was really the one of the most hotly debated things. I did because a lot of my political advisor. Said don't appoint Paul Volcker because he's going to tighten up on everything and you will have no control at all over the Fed anymore. You won't even have communication with him when Paul Volcker came. I was seeing the prospect of enormous inflation rates. And so I agreed with Paul Volcker in conversation that I would not interfere in what he did. I was prepared for him. To tighten up tremendously and drive interest rates and so forth up in order to control rampant in. It's funny actually because a little bit later in the book you basically say in this passage that you dictated at the time Volcker says he's going to have to tighten interest rates. And it's GonNa hurt me politically. I mean. You knew it was coming. I knew it was coming but I was prepared to take it. I thought that I could be reelected in spite of that as it turns out. Of course things didn't work out for President Carter about which I asked Paul Volcker in two thousand twelve if I read the see the recounting of that job interview correctly in this book. You basically said I want independence and I gotta do what I gotTa do. It was obvious why he wanted to see me. But I MR president and if you're thinking of appointing me Germany Federal Reserve. You have to know that I believe in somewhat entitled Monetary Policy and we have been following and my predecessor followed. Yeah you know I the next question I asked the president actually was Did you mind when he raised interest. He's like that and he said Oh no I I thought it was going to be good for the next presidential term. I thought that term was going to be mine. Not Raking No. He asked him why said I cost him the election. There's some people said and he had kind of Ri- smiled and he said well I think there were a few other factors as well after he left the Fed in nineteen eighty seven. Paul Volcker worked on on Wall Street for a while. Got Drafted back into government service every now and then most. Recently as the chairman of President Obama's economic recovery advisory board and as the namesake for the Volcker Carulli. The part of the Dodd Frank Financial Reform Bill that limited some of the kinds of trades. The Big Wall Street banks could make. But really when you think Paul Volcker. It's those years in the late nineteen seventies early nineteen eighties when the Fed pushed short-term interest rates up to a record twenty percent to get inflation back under control twenty percent went today the Fed's current short-term target rate is between one and a half percent and one and three quarters percent and it hasn't over five in more than a decade which makes double digit interest rates hard for most Americans below a certain age to even fathom so marketplace's Amy Scott takes us back in the early nineteen eighties and Owen managed a bank branch Boston to remember telling customers. They'd have to pay twenty one percent interest for a car loan today. The average is just over for four percent. They would get mad at the bank and many times they would just basically say I can't afford that. Oh and went on to become an economist at the Fed and now teaches at Hamilton College. She says those high interest rates had a purpose volcker was trying to slow down demand by making borrowing more expensive give. It made it difficult for people to buy houses by cars Credit card interest rates. Were extremely high. The economy did slowdown slowdown falling into two recessions. In one thousand nine hundred eighty two unemployment topped ten percent in protest homebuilders mailed. Chunks of two by fours is to Volker and members of Congress. Fred Napolitano is former president of the National Association of homebuilders. Just make a point to say this is what we do is is what we build you know with. The interest rate is hurting us. That pain eventually paid off. Robert King is a professor of economics at Boston University. Ultimately once people began to believe that inflation was gonNA come down it came down and interest rates tumbled and the economy recovered and and it's viewed as a major triumph at triumph. Nobody wants to have to repeat. I'm Amy Scott for marketplace. Paul Volcker did yesterday at at the age of ninety
Kylie Jenner sells majority stake in beauty brand for $600 million
"Arguably the corporate story of the day besides Ford Lord is cosmetic specifically the fate of Kylie cosmetics founded in two thousand fifteen by then eighteen year old reality TV star Kylie. Jenner cody cody which owns covergirl. And Max factor among a bunch of more established brands announced. Today is taking a major stake in Kylie cosmetics majority stake in fact four six six hundred million dollars which works out to a little bit more than two bucks for every social media. Follow that Kylie Jenner as as of today anyway and had values the company at one point take two billion dollars as marketplace's Amy Scott reports company known for its shall we say older brands would love to tap into that young. Following cody was founded in nineteen. Oh four and owns legacy favorites like covergirl Wella and Clairol Kylie. Cosmetics launched on social media. Yeah in two thousand fifteen. I'm just obsessed with liners sex in general and I can't leave the house without just decided to take matters into my own hands and and when she did Kylie Jenner had such a following her first lip kit sold out within seconds Lauren. Good Sid is a beauty analyst with mental. She says influencers influencers are a growing force in the cosmetics industry. Another success story is glossy a makeup and skin care company founded by beauty blogger. Emily Weiss in what they do when they're generating any new type of product. Is They really look at the comments that their consumers are posting on their instagram on their social media and they take into account what consumers are asking for but can establish brands just by their way into that relationship. Good sit says land comes collaboration and with influence or Kiara. Barani has been working well but attaching to a name can be risky to says Linda Bolton wiser an analyst with Da Davidson Kylie at age twenty is likely different than what she'll be like at age thirty. So what are the issues is what happens to the brand and once the person under those changes in their life stars can fade to take the cosmetics company co founded by celebrity makeup artists. Bobby Brown down in one thousand nine hundred ninety one wiser says today. Bobby Brown is one of estee. Lauder is weakest brands. I'm Amy Scott for marketplace.
Another Election in Spain Threatens to Deepen the Political Deadlock
"This Sunday Spain. We'll hold its fourth general election four years though. The Socialist Party picked up the most seats in parliament. Last April its leader. Prime Minister Pedro Sanchez has not been unable to form. A coalition to pass anything into law and political divisions are mounting. Marketplace's Amy Scott reports. Three big issues loom mm over Sunday's election in Spain. One is the deadlock itself. It's you know. Let's get somebody who can govern that's Gayle Allard an economics professor at the I.. E. Business School in Madrid she says to is Catalonia where violent protests erupted last month over the imprisonment of separatist leaders. The far right party vox has been gaining gaining ground with its tough stance against separatists and then the third issue is the economy slowing down to about a two percent growth rate which is fine but high unemployment employment and government debt are also weighing on the country says Heather Conley with the Center for Strategic and International Studies. It really still has struggled with the type of good quality jobs that provide meaningful benefits and employment. And that's in part what's driving voters frustration with the current political l.. Stalemate a stalemate that if it continues after this election could be a further drag on
Some ways to keep the power on in Californias fire season
"This marketplace podcast is brought to you by aqua the open source digital experience company brands often struggle to find a comprehensive solution to power their DRUBEL websites and applications aqueous Asturian of how does the rest of the system interconnect if everybody has their own rooftop solar array for instance that creates new challenges for out more of these alternatives yet the key word there is more so we can roll out this technology right now but there's sort of Heck demystifying the digital economy I'm Amy Scott in for Molly would the electric grid that we already have the legacy one that we all rely on in addition to that one reason that utilities often look at these kinds of distributed generation as even entire communities or the other thing that we've seen develop is what we typically refer to as rooftop solar which is basically solar arrays and now often with storage part of planned blackouts aimed at reducing the risk of wildfires the state's largest utility Pacific gas and electric has been blamed for sparking previous deadly fire last week more than seven hundred thousand people and businesses in northern California lost power lose power was cut off and even the utility itself marketplace's Ben Bradford has covered California wildfires in their aftermath extensively he said is there are alternatives that could prevent this kind of disruption in the future two options are microbes which are instead of having this kind of vast so the company cut power to areas it's is most vulnerable during a period of dry windy weather the overall effort was chaotic. According to P tax compliance dun-rite better tech change the wildfire scenario in California from American public media this is marketplace to upkeep that transmission system that the rest of us rely on then Bradford is a reporter at marketplace air that could be invested in these kinds of alternatives well you know the rooftop solar industry and some environmental groups they have goals that are anywhere from realistic but we're already seeing companies market off of this opportunity I got a press release from a rooftop solar company almost as soon as the first power shut offs were announced this or their own gas their own storage to be able to power either you know starting off with where we are right now critical functions like fire stations and hospitals and eventually Brett is because the more people that have a rooftop solar array and aren't paying for their electricity from the utility or aren't paying as much the less money there is couldn't be easier and they have experts in fifteen countries around the world to help as you grow learn more at Avi A. L. A. R. A. Dot Com Slash Tech avalon ray of electricity connections and power generation that a from miles away their communities that have their own generation our own solar that can go onto people's homes and provide power to them directly well all this seems like a potentially huge business opportunity I mean how much money are we talking about here. SIMPLIFIES SALES TAX WITH REAL TIME TAX RATE CALCULATIONS AUTOMATIC RETURN Filing Avalanche software seamlessly integrates with your accounting e commerce and point of sales systems so up to I would say about a quarter of the entire generation in California technically there are reports that California could power just every home and business that had the right kind of roof for it and write access to Sun that as much as seventy five percent of the state could be powered by them. I mean that's probably not and now for some related links another reason rooftop solar panels aren't a perfect solution they don't necessarily work during a blackout
How networking can lead to more diversity in tech
"This marketplace podcast is brought to you by indeed. Are you hiring with indeed. You can post a job in minutes set up screener questions than zero in on your shortlist qualified candidates using an online dashboard and get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace and by click share an award-winning wireless presentation system with with click share and you're meeting you can share your screen instantly from any device no more awkward small talk or wasted time as you wait for tech problems to be fixed click share instantly projects any speakers laptop tablet or phone onto a presentation screen so everyone can work together share their ideas and create something great. That's the click share effect visit. Click sheriff retrial dot com to learn more and sign up for your free. Trial diversity in tech could start with diversity in tech meet ups from american in public media. This is marketplace tech demystifying the digital economy. I'm amy scott in from hollywood. There's been more attention lately on who's part of the tech boom and who's not at facebook google and apple about three and four technical employers are men. Those are the coders engineers engineers developers african americans make up a tiny share of that workforce just one and a half percent at facebook two percent at google and six percent at what apple that's data from the companies themselves. One place companies find new talent is at tech meet ups. These are casual networking events where people go to learn the latest trends and connect with collaborators and who's there often looks like the tech world itself. That's what andy sell donya found out. He's executive director. The nonprofit new york tech alliance for our series evenly distributed looking at different elements of the digital divide. He told us how aims to change the scene. I actually went to new york. Tech meet up before. I was hired to see what the event was all about and i felt very out of place. I was one of the very few brown people in the room and that is really what has driven a lot of our work and my work specifically to make that community more representative of new york as a whole. Let's i'm a gay man in new york city and so my network is very full of gay men in new york city.
"amy scott" Discussed on Marketplace with Kai Ryssdal
"Advantage that Denver has from our perspective, is culture, you heard it a New Yorker says we have culture, another plus of condo living. Somebody else shovels the snow in Denver. I'm Amy Scott for marketplace. On the way out today from the White House this afternoon, this item, President Trump is going to be giving the presidential medal of freedom to Arthur Laffer next month. Arthur Laffer perhaps best known for the Laffer curve, and the not universally subscribed to theory, shall we say notice, supply-side economics is also an author Arthur Laffer is most recently of a book, titled Trump of which the subject of that book said an incredible book on my economic policies. Anyway, laugher getting the country's highest civilian award next month. All right. We're out of here. The Dow off three hundred fifty four points today. One point four percent. The NASDAQ off one hundred fourteen one and a half percent p five hundred thirty six points about one point three percent theme music was composed by BJ Liederman. Marketplace's executive producer is Nancy fog alley. Deborah Clark is the senior vice president and general manager. I'm Rozelle have yourselves a great weekend. Everybody we are back on Manera. This is APN..
By blacklisting Huawei, the US could be shooting itself in the foot
"There's an interesting observation to be made here about the global economy, things that usually happened really, really slowly. Until they happen. Really, really fast. Oh, explain from American public media. This is marketplace. In Los Angeles. I'm KAI Ryssdal. It is Thursday. Today, the sixteenth of mega is always to have you along, everybody. We begin today with this ten days ago, Amir week and a half. Every indication was that the trade mad disagreements between the United States and China were all but solved couple more meetings, a quick Trump's, she phone call done and done. Now. It's tariffs as far as the I can see. And as of yesterday quite possibly a breakdown in the heavily, integrated and extremely globalized technology supply chain, we refer here, of course, to the Trump administration, effectively blacklisting, the Chinese technology, giant hallway, which will cut that company off from its American suppliers, chips, from Qualcomm and phone software from Google to name. Just a couple. You're all that in with bands on while way in other countries. And as marketplace's Scott Tong reports now from Washington, there does seem to be something of a digital iron curtain descending if the US shoe. Hallway, it also hits its own foot inside while we gadgets are innards from firms, like Intel, oracle and Western Digital but tech firms sensing the crossfire are trying to get out of the way and avoid partnering with companies subject to bands in retaliation says Linley Gwen app of the Linley group. I think that companies are trying to reduce their exposure to the band, and by fewer components from countries that could be affected the word decoupling is being whispered in the US and China that is each country may develop its own separate supply, chain, while we has long been on Washington's hitlist and is trying to make parts semiconductors in house. Business professor at ten Wong judge young university has a new book on wall way. He says the company can be self sufficient that can make it south. Maybe he's not as good as the US components, but it's not much worse. They still can't sell products so that prepare for these more than ten years, while ways, DIY project. Could accelerate Chinese innovation? And in areas like wireless, five G many see hallway as already ahead. So the US might not want to cut itself off says, political scientists Abraham Newman at Georgetown, France in the nineteen eighties tried to develop its own internet, and it was kind of ridiculous, and the risk is that we end up with a new version of that a lesser. They un-filed g network. He says the US is weaponising interdependence and could unravel a global tech supply chain that took a generation to come together. I'm Scott Tong for marketplace. You can argue till the cows come home about tariffs who wins who loses who pays wait. No, you can't consumers pay and nobody wins. But there is at least one agreed upon reality. When it comes to what tariffs due to an economy, the way things normally work don't work anymore. Marketplace's refinish your explains that one I don't know if you've ever grown plants in a terrarium they love it in there because they're protect. But when you take them, out and expose them to the outside world, they don't always do out there, not strong. It breeds a kind of laziness here Simon Lester is with the Cato Institute and he's not talking about terrariums. He's talking about tariffs tariffs that protect some US businesses from foreign competition. You don't have to compete with the best in the world, just sort of relax. You don't have to work that hard, you're not gonna face any competition. US steel companies, for example, don't face as much pressure to upgrade plants now they can in our raising prices without competition from foreign steel producers. Ultimately, I think if you want to sessile businesses, you want them competing in order to, you know me as a fishing has possible Chinese goods. Don't usually compete with US goods head on. We don't make a lot of the same stuff, but many goods that are made in America are made with Chinese parts tariffs. Make those parts more expensive Tim Keough teaches economics at the university of Minnesota gonna make things to the US shell the rest of the world. Be more expensive than we're gonna lose market share because of that. But the. Disadvantages go beyond that, take the tariffs on steel aluminum. The metal that would be going into the US now goes to global markets increasing supply and depressing prices outside the US Rufus York's is president of the national Foreign Trade Council. Many of my manufacturers say that this has a direct impact on their competitiveness. Not only because their costs go up, but actually their foreign competitors costs. Go down your says the morn industries protected the less productive, it's likely to become in New York. I'm Sabrina sure for marketplace. In higher education news on this Thursday, three much reviled letters. S A N, t the college board purveyor of the aforementioned exam is adding a new score to it math, reading, and writing the optional essay and now adversity as in the hurdles like neighborhood crime, and poverty, that students might have dealt with getting into college. It's yet another attempt by the college board to keep its core product, the SAT, relevant as the idea. Of who gets in wear gets more attention. Marketplace's Amy Scott has more on that when Scott vers, I'll was weighing student applications. This college admission season he had another tool to consider. He's dean of undergraduate admissions at the university of South Carolina, along with grades and essays and test scores and environmental context. Dashboard. Offer details like family and housing stability access to AP classes and neighborhood poverty, and crime. And that did help us find some students that we would probably would otherwise not considered the university was one of fifty testing out the dashboard. This year, the college board will roll it out to all schools next year, and it'll be free, but SAT critic Robert Shafer with fair test says it's a business move with selective colleges under pressure to admit more students of color and low income students. More of them are making standardized tests. Optional people have long known that head scores were a excellent. Mega of accumulated advantage. And now, the college board is going to admit it by thing. You can't use raw scores. You have to examine them in context. The college board has tried something like this, in the past in the late nineteen nineties, it's so-called strivers program aimed to take socioeconomic factors including race into account. But Shaffer says critics accused the college board of back door affirmative action, and the program was dropped Tiffany Jones directs higher, Ed policy at the education trust advocacy group. She says the dashboard doesn't include race without looking at race explicitly. It's very difficult to try to account for racial inequality. Students also won't know their scores adding another layer of mystery to the college admissions process. I'm Amy Scott for marketplace. There was a fairly brief, but all important announcement from Boeing today, a quick four paragraphs, the first sentence of which read Boeing has completed development of the updated software for the seven. Thirty seven max, which is big the company says it's working with the FAA to get the planes back in the air. Investors were reassured Boeing shares up two point three percent day. The broader markets up as well. Not as much though. We'll have the details when we do the numbers.
"amy scott" Discussed on KCRW
"According to Moody's analytics there about fifteen million more people with FICO score of seven forty today than they were before the great recession. Marketplace's Amy Scott reports if you apply for a loan or credit card, most lenders will take your FICO score into account. The number was created by the fair Isaac corporation back in nineteen eighty one in a nutshell. The FICO score is a number that predicts how likely you are to pay back a loan or other credit applications in a timely fashion. That's video from psychos credit education series at last count. The average score was a record seven hundred four out of eight fifty that's about twenty points higher than a decade ago. Ethan dornam is vice president of scores FICO. He says with unemployment low and wages rising. People are in better shape. They have lower debt fewer instances of delinquencies. They're searching for credit that sort of under lying improvement in financial health. Is really what's driving the improve scores. Chris Doritos and economist at Moody's analytics says the strong economy may actually be masking some risk especially at the lower end of the credit scale six hundred credit score very low credit score back in two thousand nine that reflected perhaps the external economic environment right for cultures were rising unemployment was high. But six hundred today that might indicate some higher risk and help. Explain why missed payments on auto loans, for example, have been rising. Even though he says lenders, haven't relaxed their standards chichi. Woo is an attorney with the national consumer Law Center. She says lenders shouldn't put so much weight on credit scores of credit score isn't some sort of magical shield that says this person's never going to default. I mean, if you have a high credit score, but something bad happens to you. You are likely to have problems paying bills by the same token, take that person with the..
Sometimes it takes a big prize to solve big tech problems
"This And marketplace podcast is brought to you by pinata for businesses. And universities Panatta was everything YouTube isn't with enterprise grade security Bilton recording and live streaming and a unique search engine that finds any words spoken in any video Panatta was how professionals share knowledge and by click share with click share, and you're meeting, you can share your screen instantly from any device, click share instantly projects any speakers laptop, tablet or phone onto a presentation screen. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com and learn more and sign up for your free trial. Sometimes what it takes to solve big problems is a big prize from American public media. This is marketplace tech demystifying the digital economy. I'm Amy Scott in for Molly would. It's been called American idol for science geeks. The George barley water prize will award ten million dollars to the team that develops the most promising technology to remove excess phosphorus from freshwater lakes and streams phosphorus pollution from chemical fertilizers and septic tanks has led to the growth of toxic blue green algae in the Florida Everglades. And elsewhere, Lauren par is director of the George barley water prize. She says the goal is to spark innovation the way that we've previously been looking at the issue or sometimes is reported on is attempting to remove the blue-green algae. And so while you can probably effectively skim off blue-green algae, you're not really tending to the root cause of the problem, which is excess phosphorus and so kind of like an it to the algae being a symptom of the flu. And so you might be able to sue the cough, but unless you actually attack the root cause of the. Thickness. You're not really going to affect the overall wellbeing of the system. What are some of the ideas? The teams have come up with so far. We've had a great showing from all around the world from the beginning of this program. We had over a hundred applicants from thirteen different countries. And so again, it just really drove home. The fact that this problem is not specific to Florida or the Everglades. It's a global issue. And so we've got, you know, a number of different technologies a number of different approaches one that I really love talking about. We actually have a US Geological Survey agency team participating in the program and they've essentially decided to use a local byproduct in iron ochre, which is really specific to the industries in West Virginia where this group is out of and they've decided to use that waste product as the filter to help remove phosphorus from water. And so they're taking this essentially waste products and transforming it. Into a technology that could affect in clean the waterways. Why do you think we need a prize to solve a big, social and environmental problem like this? I mean, obviously Americans love could competition, but why shouldn't you know, the companies that caused this problem be solving it sure. So, you know, I think part of why we've been so successful in garnering stakeholders is because our prize in our program, again, president general are just really solutions oriented programs and around the world, there's such a rich rich history with the global implementation of prizes. They've been using the past to solve problems that the free market simply wasn't addressing quickly enough on its own. And so this infrastructure of rewards and prizes has historically helped catalyze significant accomplishments certainly were hoping to do that with the barley prize. But things like the artigue prize in nineteen twenty seven which spur. For Charles Lindbergh's. First transatlantic flight from New York to Paris that reward at the time in nineteen twenty-seven was twenty five thousand dollars, which today is all of three hundred thousand I think, but it was that flight that led to today's three hundred billion dollar aviation industry, which is something basically impossible to imagine at that time. And so what we know is that historically this prizes can help catalyze massive changes in huge technological breakthroughs. And we're really hopeful that the Varley price can do the same has the competition actually, spurred those breakthroughs new ideas to remove phosphorus, or they ideas that were being developed prior. And they're just getting a boost from this. Now, you know, I think that we collected a number of ideas that were in different stages of development. But certainly none of these were being implemented on a commercial scale yet. And so we've definitely. Moved the needle without doubt on research and development, but I would go so far as to say that our third stage which was an actual field test in Canada really did manage to move the needle on the economics of phosphorus removal here in Florida. The most typical way to address the phosphorus pollution issue is through storm water treatment areas, which are STA's, but the problem with TA's as while they're remotely effective, they're incredibly land intensive and so with each of our teams to get as far as they've gotten this competition, they were given pretty strict land constraints because we want to be able to do is implement these types of technologies any in the world, regardless of available land. And so that alone the shown efficacy of being able to remove phosphorus from water and removing the massive land component necessary here in Florida is a huge win for us to if we don't solve this problem soon. What are the stakes the stakes get higher? Hire every year. So we know with global warming with sea level rise. What we're seeing is not only more frequent algal blooms, but they're more intense. They're more damaging on their more harmful not only to human health, but ecosystem health, and so certainly in Florida. What's at stake is the drinking water supply for a third of the state and our state here in Florida relies so heavily on tourism. And so without clean waterways. Without pristine beaches were missing out on the number one driver of the state's economy. Lauren par is director of the George barley water prize. It's sponsored by the Everglades foundation and the Scots miracle. Grow foundation. Scott's the company still uses phosphorus and some of its fertilizers, but dropped it from lawn products several years ago the competition is now down to five final teams. They'll spend the next year testing and refining their technology that ten million. Dollar grand prize will be awarded next year.
What does it mean to be "employed" in the gig economy?
"This. Marketplace podcast is brought to you by ultimate software dedicated to putting people first with innovative solutions for HR payroll and talent management. Learn more at ultimate software dot com. Ultimate software people first and by click share with click share, and you're meeting, you can share your screen instantly from any device, click share instantly projects any speakers laptop, tablet or phone onto a presentation screen. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com and learn more and sign up for your free trial. What does it mean to be employed in the gig economy? A new European law. Tries to answer that question from American public media. This is marketplace tech demystifying the digital economy. I may me Scott in for Molly would. This week the European parliament passed a law establishing basic rights for workers in the gig economy that could apply to some three million. People from Uber drivers to careers for the UK's delivery, the law requires companies to pay when work is cancelled last minute or for mandatory training, it also bans exclusivity clauses, which prevent freelancers from gigging for other companies. It's supposed to make working short-term gigs a little more stable. Joe Miller is a business and tech reporter with the BBC who's been following this law. It was mainly targeted at the biz of this. Well, and things like toss grab it essentially at based services that supply on demand sevices such as transport to delivery in reality. The legislation encompasses a fob ruled a section of the economy people who clean offices. Includes people who work for possible delivery companies. So the legislation could apply to a fall fall brought a sector than just those big tech foams that we've all come to know, why are these changes needed? What kinds of abuses were workers talking about that? This law is trying to address. Yes. The range of abuses require massive from people who being booked for work, and then never been given that work, you know, just being left in the lurch with no work, and no pay to people who have worked hundreds of days a year without any holiday pay people not being offered any compensation when they're sick despite working for the same company as intially for many, many months a weeks. So there's been an awful lot of activism around this and an awful lot of legal challenges around this of people coming forward with all sorts of employment concerns, these Member States have up to three years to begin to enforce this seems like a long time with a lot. Out of room for maneuvering, it is a long time. But critics would also point out that this only applies to people who are employed now that tightening up definition of who's employed the saying if you work three hours a week for a company that is considered employment. But of course, the big battlefield between the likes of Uber left and deliver around the weld and various authorities has been they've always claimed that they are just the facilitator between a customer and a self employed contractor now that is not covered by this legislation 'cause this legislation narrowly only applies to people who are employed, and you can expect that to be many many challenges on the definition of who is employed. This doesn't really solve anything in the immediate future. It's just a blueprint of how things may look the BBC's Joe Miller what could this year opean law mean for American workers? Well, Miller says think about what happened with the GDP are. The European privacy regulation that took effect last year. It led a lot of tech companies to change their practices here too. And now for some related links here in the US the rise of the gig economy may be distorting some economic data over at axios frequent marketplace guests Dion Ribaut and wrote about a new paper from the Dallas fed. It says the headline unemployment rate now at three point eight percent may low ball the number of gig workers who are unemployed or under employed because contract workers aren't on the payroll. They aren't counted as unemployed even when they're not working we've got links to John's piece and the Dallas fed paper at marketplace, tech dot org. Also, while you're there, check out another story from the ethica times Cornell University surveyed New Yorkers who use platforms like Uber post mates and grub hub to make a living among the two hundred seventy people surveyed only thirteen percent said they could get by by working for those apps alone, many relied on public assistance and juggled several apps at once to make ends meet Matt Purdy produced this. Tweaks marketplace tech along with Stephanie Hughes eve tro is our senior producer, Dan Powell is our engineer, I'm Amy Scott. And that's marketplace tech. This is a PM. This marketplace podcast is brought to you by click share, an award winning wireless presentation system with click share, and you're meeting you can share your screen instantly from any device. No more awkward small talk or wasted time as you wait. For tech problems to be fixed. Click share instantly projects any speakers laptop, tablet or phone onto a presentation scream. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
"amy scott" Discussed on WNYC 93.9 FM
"Denver. I'm Amy Scott in for Kyra stall. It's Thursday, April fourth good to have you with us. The government is out with a preliminary report on an airline crash last month that killed all one hundred fifty seven people on board. It was the second crash involving a Boeing seven thirty-seven max in five months. The report finds that the crew on the airlines flight followed all the procedures provided by Boeing but still weren't able to control the plane. Marketplace's Jack Stewart has been looking into what comes next for Boeing as it continues to work on a fix and try to restore the faith of the flying public. And investigators looked at data from flight BT three oh two's on board or quotas. The data shows the plane Jove hod several times before hitting the ground. This doesn't look good for Bill. I think this hurts them even more shoe impression Icke is at the center for aviation studies at a higher state univers-. City. He says the findings renew the focus on Boeing's 'em caste system a flight control program designed to push the nose of the big engines seven three seven max down to prevent a disastrous stole full investigations of both Boeing seven three seven. Max crashes could take a year. Investigators are also looking at physical evidence from recovered wreckage. That's a skill. That's taught in this. Los Angeles warehouse filled with twisted metal broken glass and torn cables in here, we have the wreckage of twelve crashed airplanes Thomas Anthony at the university of southern California uses these wrecks to train investigators from around the world to look at the positions of flack to read broken.
Danaher agrees to buy GE's biopharma business for $21.4 billion
"There's another entry today in the what is going on. With General Electric file GE announced deal this morning to sell bio pharma business for more than twenty one billion dollars. The buyer is Danaher which just so happens to be the company that GE's newish CEO Larry Culp rand before coming to General Electric, so all part of a bigger restructuring plan ended paying down GE's massive debt load the company also, by the way closed a different deal today. Merging its transportation division with railway equipment maker wab tech bringing in another two point nine billion dollars. Marketplace's Amy Scott has more now on the original American industrial conglomerates efforts to become less conglomerate, it GE has been trying to recover from deals that went bad questionable accounting and leadership turmoil. Today's deal helps pay down the more
LA homeless advocates have a new tech tool for affordable housing
"This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed dot com slash marketplace. That's indeed dot com slash marketplace. And by send pro from Pitney Bowes, send pro online software makes it easy to save time and money print shipping, labels and stamps, right? From your desk and access discounted rates. Try it free for thirty days and get a free ten pound scale when you visit PB dot com slash tech. That's PB dot com slash tech. How LA housing agencies are trying to use tech to match homeless people with homes from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. If you need a ride somewhere Uber or lift will match you with a car, and a driver enough, you go if you're a landlord renting, a house you posted on Zillow and renters can find you tech has made it really easy for most of us to get matched up with what we need with just a few clicks or swipes. But this like so much technology is not evenly distributed nonprofit housing agencies work to help homeless and low income people. Find a place to live a lot of the time the agencies may even have funding to help pay for that housing. But right now, a caseworker looking for a house for someone still has to do a ton of analog work. Lot of phone calls a lot of even just driving around in general communities and looking for rent. It's a lot of beating the pavement that Sherry Weaver. She directs homeless outreach at harbor interfaith services in Los Angeles. She says that's all time that case workers don't get to spend helping there. In other ways like with medical care or other services. I've been working in HAMAs services for the past seventeen years, and I can remember back in my days of case management. Always kinda wishing and hoping that there was just this one place that I could go to in my search to find this listing of housing units, and that's even more. So in this day and age with just the really low vacancy rate in LA. There's a new tech tool to help a new platform called lease up is a website that makes it easier for landlords to list, affordable housing units. And for nonprofits to find those homes. Jennifer heartbeats is executive director of the large housing nonprofit path or people assisting the homeless. That's the agency that created lease up. It works just like Zillow or Craigslist online or a mobile phone and case workers can shop for housing with their clients. They can see pictures of the units, they can see all of the specifics, like number of budge rooms know, whether it's first floor second floor. And that can really streamline the process then on the back end they can request to see the unit through one of our staff who's gonna contact the landlord directly heartbeats says that last part is huge. There's such a shortage of low income housing the right now landlords get flooded with calls on a single unit from lots of different agencies or individuals. Lisa is designed to encourage landlords to list their properties because it make sure they just talked to one person right now there are about six hundred landlords on the Lisa platform. Heartbeats would like to get two thousand units on lease up in the next year. And more importantly, she says they want to get people into homes faster the longer and individuals out on the street, the more that it taxes are emergency departments are first responders. And personally, the more that it taxes the individual or family, you know, they're in survival mode and trying to do the best they can on a day-to-day basis. So the faster that we can get them into a permanent home the better for the entire commune. Unity. Lisa is funded by a sales tax increase passed in LA county in twenty-six teen that set aside money to help the homeless, but heartbeat says, the model of a simple platform for connecting agencies to landlords is expanding to Santa Barbara already and should be a model for the rest of California and even the country. And now for some related links. We actually just had a story on marketplace. The other day interviewing New York Times reporter on the history of tech companies trying to solve the housing crisis. Spoiler alert hasn't gone that well, the upshots Emily badger talked to Amy Scott about how even though there are billions of dollars invested in making it easier to find a home. None of that has made the housing any cheaper. You can find that story and the link to the upshot piece at marketplace, tech dot org. But that story doesn't mean the tech won't keep trying especially since the industry. Get so much blame for the high salaries and the big stock option payouts that cause housing prices to pop out of reach of people who don't have the money to throw around. So now, you're seeing venture capital funds and exceleron or is looking to invest in companies that somehow address affordable housing issues. There's one called meta prop, for example in New York City. And in fact, there's a wave of investment in real estate related technology overall because let's be honest. There's also. Money to be made whether it's in residential or co working or construction, and of course, it wouldn't be a tech investment trend without a fun little name for it. I there was fintech for financial stuff ensure tech for insurance. And now, there's prop tech like for property. Nobody kidding. Look it up. I'm Ali would. And that's marketplace tech. This is APN. This marketplace podcast is brought to you by Sunpro from Pitney Bowes, San pro online software makes it easy to save time and money, no matter what you ship or mail print shipping, labels and stamps, right? From your desk and access discounted rates. Try it free for thirty days and get a free ten pounds scale when you visit PBA dot com slash tech. That's PBA dot com slash tech.
"amy scott" Discussed on KCRW
"And rent this one out for income in Houston. I'm Amy Scott for marketplace. The Spanish fast fashion companies Zara gave itself a little bit of a makeover this week. It's got a new logo the new ones more compact than the old one the letters are closer together. The font is fancier to as consumers today tend to do people have been weighing in on social media. They love it. They hate it. A whole lot of emotion for you know, a logo. But as marketplace's Kimberly Adams reports fashion is not the only thing that goes out of fashion. Zara is well known for keeping pace with the latest in fashion. And there's nothing last season about its new logo. Stephen jumper is with the ghost note agency, a branding firm here in DC SARS, new logo is a pretty stark pivot away from design trends that we've been seeing brands embrace over the past several years, he says the new logo leans more towards the look of luxury brands like Gucci and Chanel other companies, especially some of the tech firms that have rebranded recently thinks slack or Spotify have gone. For a simpler, look logos. That were at one point a little quirky or or a little bit more stylized, and they've really now kind of become much more streamlined and simplified Marlene Morris towns teaches advertising at Georgetown, she says changing logo can help accompany create a different impression recognize a merger or a policy change. And then there's also the consideration about how brand logos are going to look on people's smartphones and in small technology spaces, ipads, smartphones and things like that. And it certainly doesn't hurt when a new logo generates a lot of buzz of any kind says, Stephen jumper. It goes note. I think in many ways Zara has already accomplished what they set out to do. They have people talking about the new logo, good, bad or indifferent. We're not for those new scrunched up letters. We probably wouldn't be talking about Zara today in Washington. I'm Kimberly Adams for marketplace. Coming up right now, we're working on ways to say the big game party.
"amy scott" Discussed on KCRW
"Cleared the Sigler on the eastbound ninety one before Alameda crash has been cleared, but traffic is still recovering now in Griffith park. On the eastbound one thirty four riverside drive collision blocking the right lane says you backed up from Buena Vista and really all the way across the valley is a little slow and go today are thanks like four nineteen KCRW. This is marketplace, I'm Amy Scott. It's been a year since the GOP led congress passed the tax cuts and jobs act without a single vote from Democrats. It was the biggest change to the tax code in thirty years slashing the corporate tax rate, increasing the standard deduction for individuals and giving most people at least a small cut it also gave the growing economy an extra jolt of stimulus and is projected to add nearly two trillion dollars to the deficit in the first decade. According to the Congressional Budget Office. Joining me now to talk about how the rollout has gone so far and what to expect in the new year is marketplace's Marielle Sagarra in New York. Hi, marielle. Hey, amy. So you've been following this law for most of the year. How has it been playing out? This law was more than a thousand pages long. There's so many changes we could talk about but one of the big ones as you mentioned is the corporate tax cut the tax rate for corporations dropped from thirty five to twenty percent. And that was supposed to encourage companies to invest in their businesses. We did see a jump in investment earlier this year, but that has slowed down. We've also seen companies doing a lot more stock buybacks. And it's assume that's because they have all this extra cash on hand from their tax cuts so buying back their own stock, basically, right? What about on the individual tax payer side? What's changed overall about eighty percent of people are getting a tax cut, according to the tax policy center. But it's interesting we've found that. A lot of people aren't noticing that tax cut or they are impressed by it. So to backup here in the US every paycheck, your employer, withhold some of your money and sends it to the government on your behalf. That amount is based on choices you make and also on guidelines the IRS gives your company so this year when the tax rates went down, the IRS changed its guidelines it told companies to withhold less in taxes from people's paychecks, which means that tax cut like you. And I we've all been getting it all year. But when we and other outlets did polling on this. A lot of people said they hadn't noticed or if they had they considered the tax cut so small maybe it was like twenty bucks a paycheck that it didn't make a difference in their financial lives. So what's that gonna mean come April, which is actually not that far away? Yeah. The fact that people don't realize they're getting their tax cuts all year that means come taxis, and they're expecting this big refund, and they're not gonna get it. Probably. So that's freaking out there. Accountants who are worried their clients are going to blame them an congress passed this law really quickly. There's a lot in there to figure out and the IRS has been cranking out rules, basically guidance on what all these things mean. Like, what kinds of businesses qualify for a tax break stuff like that? But these things are complicated and accountants and tax lawyers. Tell me there's a lot these still don't understand and they're worried because they're supposed to be the expert. It's you know, there would stands between you and breaking the law the IRS, by the way has been dealing with budget cuts. And so it's under a lot of pressure to get this stuff out on time. So as someone who's been covering this? You mentioned it's more than a thousand pages. What are the some of the more interesting stories you've heard, you know, one thing we've covered the law gets rid of a lot of deductions including one for alimony. So if you get divorced, and you pay alimony, you can deduct that from your taxes as of January first of two thousand nineteen that deduction is going away. So people who are getting divorced this year. They've been rushing to finalize that before December thirty first, and they need buy in from their soon to be ex is so they're offering stuff they normally wouldn't like here take the house or have their retirement account, or here's an Xtra visitation day with the kids. Whatever let's just get this done. Also, the law have a bunch of mistakes and Typos in it which happens a lot in laws of this size. But it's. Affecting different industries like in retail in one case, it's making retailers hold off on renovations to their stores in years past congress used to come together and say, well, we knew that this was a mistake. So will pass a new law and just fix it. But now it's getting harder and harder because of gridlock to push anything through. All right. Marketplace's Marielle Sagarra. Thanks. Thank you..
"amy scott" Discussed on WNYC 93.9 FM
"On WNYC. You're listening to marketplace on WNYC coming up next. It's all things considered with the ongoing government shutdown. The latest on troop withdrawal in Syria and big changes at bam. All coming up next. This is marketplace, I'm Amy Scott. It's been a year since the GOP led congress passed the tax cuts and jobs act without a single vote from Democrats. It was the biggest change to the tax code in thirty years slashing the corporate tax rate, increasing the standard deduction for individuals and giving most people at least a small cut it also gave the growing economy an extra jolt of stimulus and is projected to add nearly two trillion dollars to the deficit in the first decade. According to the Congressional Budget Office joining me now to talk about how the rollout has gone so far and what to expect in the new year is marketplace's Marielle Sagarra in New York. Hi, marielle. Hey, amy. So you've been following this lot for most of the year. How has it been playing out? This law was more than a thousand pages long. There's so many changes we could talk about but one of the big ones as you mentioned is the corporate tax cut the tax. Rate for corporations dropped from thirty five to twenty percent. And that was supposed to encourage companies to invest in their businesses. We did see a jump in investment earlier this year, but that has slowed down. We've also seen companies doing a lot more stock buybacks. And it's assumed that's because they have all this extra cash on hand from their tax cuts so buying back their own stock, basically, right? What about on the individual tax payer side? What's changed overall about eighty percent of people are getting a tax cut, according to the tax policy center. But it's interesting we've found that a lot of people aren't noticing that tax cut or they are impressed by it. So tobacco up here in the US every paycheck, your employer, withhold some of your money and sends it to the government on your behalf. That amount is based on choices you make and also on guidelines the IRS gives your company so this year when the tax rates went down the Irish changed its guidelines it told companies to withhold lasts in. Taxes from people's paychecks, which means that tax cut like you. And I we've all been getting it all year. But when we and other outlets did polling on this. A lot of people said they hadn't noticed or if they had they considered the tax cut so small maybe it was like twenty bucks paycheck that it didn't make a difference in their financial lives. So what's that gonna mean come April, which is actually not that far away? Yeah. The fact that people don't realize they're getting their tax cuts all year. That means come taxis. They're expecting this big refund. And they're not going to get it probably said that's freaking out there. Accountants who are worried another clients are going to blame them an congress passed this law really quickly. There's a lot in there to figure out and the IRS has been cranking out rules, basically guidance on what all these things mean. Like, what kinds of businesses qualify for a tax break stuff like that? But these things are complicated and accountants and tax. Lawyers. Tell me there's a lot these still don't understand and they're worried because they're supposed to be the experts. There would stands between you and breaking the law the IRS, by the way has been dealing with budget cuts. And so it's under a lot of pressure to get this stuff out on time. So as someone who's been covering this? You mentioned it's more than a thousand pages. What are the some of the more interesting stories you've heard one thing we've covered the law gets rid of a lot of deductions including one for alimony. So if you get divorced, and you pay alimony, you can deduct that from your taxes as of January first of two thousand nineteen that deduction is going away. So people who are getting divorced this year. They've been rushing to finalize that before December thirty first and they need buy in from their soon to be Xs. So they're offering stuff they normally wouldn't like here take the house or have their retirement account, or here's an Xtra visitation day with the kids. Whatever let's just get this done. Also. The law have a bunch of mistakes and Typos in it which happens a lot in laws of this size. But it's affecting different industries like in retail in one case, it's making retailers hold off on renovations to their stores in years past congresses to come together and say, well, we knew that this was a mistake. So will pass a new law and just fix it. But now it's getting harder and harder because of gridlock to push anything through. All right. Marketplace's Mariel Sagarra. Thanks. Thank you..
"amy scott" Discussed on KQED Radio
"I'm Amy Scott in for Cairo's dull after big storms like last month's hurricane. Florence recovery is not only slow but expensive some estimates. Put the damage at twenty to thirty billion dollars for Florence and a portion of that will go to repairing the beaches affected, the US government spends a lot of money repairing coastal communities after big storms. Lisa song as a reporter for propublica and wrote about the high cost of beach renew assessment. And how that money is divvied up. Welcome lisa. Thanks for having me. Lisa. Can you? Tell me what beach nourishment means. Well, it's basically when the government comes in, and they pump a lot of sand onto your beach to fix the damage to the beaches that have occurred through erosion or through storm damage, and the reason why federal state and local governments will fund this is that without beach nourishment. Some beaches in the US, particularly on the east. East coast and the Gulf Coast are just getting smaller every year, they're retreating. And so the people who own property on the beach, obviously want the beach to stay where it is. And those beaches are very important to the tourism economy. How much does this cost and where's the money coming from? It costs a lot. So many of these projects are mainly funded by the federal government, particularly the army corps of engineers and FEMA in total cumulatively, the US has been about nine billion dollars to rebuild beaches since nineteen twenty three and when we looked at the North Carolina data after hurricane Florence. We found that in that state alone federal state and local governments have spent more than eight hundred twenty eight million dollars cumulatively for those beaches. Wow. And what is the argument for spending that money? So the local residents would argue that they need that money to keep their tourism economy going to keep their properties up, and that, you know, people from all over the country coming enjoy these beaches. So the government should help fund their economies the people who benefit the most from these projects are actually the property owners ocean front properties. So these tend to be the second homes or vacation home. Homes oftentimes, they're very large pricey mansions, right along the beach. They're the ones who get most of the benefit from these projects. Why is that who decides which beaches to protect an which to leave alone? This is sort of decided on a case by case basis some communities actually fund most of this work themselves to local and county taxes. And so in that case, the federal government isn't really involved, but for many communities, it's the army corps that decides which communities get funded and the way the army corps makes these decisions they use an economic formula that ends up favoring more affluent communities, and the reason that is is that the core tries to see which projects can they fund where they'll get the most out of every dollar spent. So in essence, it ends up favorite more affluent communities and not just affluent. But predominantly white, right? Yes. So the analysis we did in North Carolina. We looked at about sixteen communities that have received funding for these projects and the average. Demographics in those communities was something like ninety four percent white, and you found that the effect is that the same beaches just keep getting rebuilt over and over again. Can you talk about an example, tell me about rights Ville beach? Sure, right. Still beach has been rebuilt. I think more than twenty times in its history. And this is a community. We found where you know, some of the properties right along the ocean are easily worth millions of dollars..
"amy scott" Discussed on Marketplace All-in-One
"This is marketplace. I'm Amy, Scott. The rate of homeownership in this country is about sixty four percent still lower than before the housing crisis last decade. And today, many are facing another housing crisis. One of Ford ability high rents and low supply have put home prices out of reach for many Americans. My next guest argues that the federal government should do more to help lower and middle income people buy their own homes. Connor San is a portfolio manager for new river investments and writes, for Bloomberg opinion, welcome to the program. Thanks rob me. Why is home ownership such an important source of wealth for especially for as you say in your article, people who aren't rich will so the, the wealthy, the top ten percent of households have about ninety percent of all stock market, wealth matches. Because you know, you could talk about its policy choices how we tax capitalists than we tax labor or just they're the ones who can survive the recessions and not have to sell their stocks and. Homes or something that everybody at least not everybody can aspire to afford. But it's a more aspirational thing in America always has been, and this the bears it out, but that's where most middle class families have their wealth. What's happened to home ownership at the lower to moderate income end of the spectrum. So over the past ten or fifteen years, going back to the the boom bust period. That's really where the source of inequality this decade has come from the wealthy and especially white households have seen their wealth from from housing and home ownership more or less maintain where it was or even hit new highs. Whereas the lower middle class and especially non white families saw a big loss there. And so the homeownership rate of the national level has started recover or the past year too, but it's just barely starting to trickle up and for households like black and Hispanic families. Whereas white households didn't see the same loss. A lot of people think that the financial crisis was caused at least in part by too much home ownership that we were pushing it too hard people were getting in over their heads, but you say that's. A myth. Why is that the homeownership rate did hit its peak at the peak of the housing credit, boom, but really the the thing where we got caught was too much leverage and and too much debt. And so the such thin cushions on both the homeownership side and the lending side that you have this stomach collapse that had to be rectified by the government that the federal government should be doing a lot more to encourage home ownership. But of course, we have Fannie Mae and Freddie MAC, we have FHA loans, VA loans. It seems like the government does a lot already. Why is that not enough?.
"amy scott" Discussed on Marketplace All-in-One
"The report predicts soon it will be more common globally for girls to earn more education than their parents than it is for boys i'm amy scott for marketplace no in the us it's gotten to the point that even big companies with big human resources departments are taking forever to fill open positions now this says something about the state of the us economy and technology as we're about to learn from communists diane swonk at the accounting and consulting firm grant thornton good morning my friend good morning so interesting data here it's taking a while to fill positions at companies yes which most interesting from sort of the jolts data that jobs stated that just came out and job listings friend of mine steve davis at the university of chicago found that firms in john are taking much longer to fill jobs and they once did most notably large firms they're spending a very long time searching for just that perfect individual you with all this online job search technology that we're using through our compete others that actually may be making it more difficult this search process in the interview process the whole this gotten very twisted a bit by the fact that we use it all with electron ix no people look for the perfect candidate to come in on a checklist through algorithms and then they get to the point of trying to reach out and find those candidates and it's taking a very very long time or so perhaps some adjustment of what's out there versus expectations might be an order but certainly says something about the state of the economy here in may of twenty eight certainly does the fact that companies can't just pick anyone off the street to hire means it's much harder to find the best worker to fill those positions so we are actually in a tighter labor market the grant thornton chief economist diane swonk thank you.
"amy scott" Discussed on KNBR The Sports Leader
"And become a thirty wraps a 225 guy with a forty inch vertical and a 10 10 broadjump i mean he's going to light it up and kind of established himself as the superstar back who's going to go in the top five then there's this guy named kentavious street whose of de lineman from nc state and you got to watch this guy's got six to two hundred eighty five pounds any run sub four six so we're talking about a guy who can really run off the edge now bradley shove is going to be their first deal i'm and taken in the top five the kentavious street remember that amy scott benches four 75 e squat seven bills you've got a forty introvert and you see at two hundred eighty five pounds you see a guy running subfour six that's cook and so kentavious street look for him v deve the big nose guard from youtube you know talking about three hundred and fifty pound knows guard who's going to run in the four eight four nine rain shimy were one of the great runners at the position and then donte jackson a quarterback from lsu you know this guy ran ten to in one hundred meters at the sec relay days and they're expecting him to run in the four twos now the combine record is john ross who's got four to this kid may take down john ross in the combine drill i christian kirk the wide receiver from an amazon other hot name to remember he's going to blow up and and run a great forty time and then there's a linebacker named gerard avery for memphis whose about six one to 45 tremendous football player and a really great late in the scouts are really eager to see him ron him left and him do the drills so that's us of subprime refer for the thing of course a lot of it comes down to their certain guys that have problems off the field the interviews important to them there's certain guys that maybe have issue with strength what do they do on the bench is going to be important running backs they looked i took that 10yard shuttle how fast today in the first ten yards and then a lot of times do they you know in a passing league to running backs hold the.
"amy scott" Discussed on WNYC 93.9 FM
"In washington i'm amy scott in for kyw result it's friday january fifth good to have you here it's been an interesting week here in our nation's capital but we're going to start with the economic news the job market posted its eighty seventh consecutive month of gains in december adding one hundred forty eight thousand jobs as actually slower growth and we saw most of the year but the unemployment rate held steady at four point one percent joining me to talk about those details and the week gun by is neil or richardson with red finn and sheila kaul had car of the new yorker how's it going hi amy guy who well pay me good to have you here neela let's start with you so this was the last jobs report for the year that just ended the first year of the trump administration how's it look to you it looks pretty good i mean this far into the economic expansion we were average during last year about a hundred and seventy thousand jobs per month that's pretty steady growth pretty stripped steady job creation but let's missing is that element we've all been waiting for which is why higher wage growth we've seen a stock market that's been booming that wages are stagnating and there's a big disconnect between wall street and main street still even though we are very far into a recovery sheila how about those wages there was some wage growth about two and a half percent for the year but workers still aren't seeing enough of a share of that expansion will this is this is a as neelam mentioned one of the ongoing mysteries of the economic recovery you would normally expect when unemployment is so low to see pressure on wages pushing them up and it just has not happened economists have been a bit baffled by this uh they're different theories as to why the wage growth has not increased at a greater rate mean automation is one factor their even some economists suggesting that the opioid crisis has a had some impact on this but yes we're gonna have to really see whether you know.
"amy scott" Discussed on KCRW
"In washington i'm amy scott in for kyw result it's friday january fifth good to have you here it's been an interesting week here in our nation's capital but we're going to start with the economic news the job market posted its eighty seventh consecutive month of gains in december adding one hundred forty eight thousand jobs as actually slower growth and we saw most of the year but the unemployment rate held steady at four point one percent joining me to talk about those details and the week on by is niilo richardson with red finn and sheila kaul hat car of the new yorker how's it going hi amy guy well hey amy good to have you here neela let's start with you so this was the last jobs report for the year that just ended the first year of the trump administration how's it look to you it looks pretty good i mean this far into the economic expansion we were averaging last year about a hundred and seventy thousand jobs per month that's pretty steady growth pretty strong steady job creation but let's missing is that element we've all been waiting for which is why higher wage growth we've seen a stock market that's been booming that wages are stagnating and there's a big disconnect between wall street and main street still even though we are very far into a recovery sheila how about those wages there was some wage growth of about two and a half percent for the year but workers still aren't seeing enough of a share of that expansion will this is this is a as neelam mentioned one of the ongoing mysteries of the economic recovery you would normally expect when unemployment is so low to see pressure on wages pushing them up and it just has not happened economists have been a bit baffled by this uh they're different theories as to why the wage growth has not increased at a greater rate i mean automation is one factor their even some economists suggesting that the opioid crisis has a had some impact on this but yes we're gonna have to really see whether you know the president's tax plans have their intended a fact and actually lead to higher wages that's right i neil the the tax package just passed and signed is supposed to create more job growth and wage gains as the corporate tax rate gets slash significantly you expect.
"amy scott" Discussed on Marketplace All-in-One
"Ashley be be worthwhile in many cases because president trump may one day be replaced by someone who does want tight regulations in washington i'm nancy marshall ganzert for marketplace the tax bill the to health care bill that its tax bill is a health care bill continues to wind its way through the senate finance committee and there are all kinds of ways we can get down in the weeds on what's in the thing and what's not but there is a more philosophical development here to tax cuts for individuals in the senate bill are temporary corporate tax cuts are permanent as marketplace's amy scott explains here's the calculation senate republicans are making in order to pass a tax overhaul with a simple majority the tax cuts cannot increase deficits after the 10year budget went up that's professor rebecca kaiser at brooklyn law school she says leading most of the tax cut sunset or expire after 20 25 solves the problem except once people get used to tax cuts they don't usually want to give them back it's likely that congress will face a lot of pressures to extend them and so perhaps were not quite accounting for their costs upfront there's a recent precedent for this tax cuts passed during the george w bush administration were supposed to sunset in 2010 that was a big issue in the two thousand eight and two thousand twelve presidential campaign's alex brill served on the bush administration's council of economic advisers he says eventually congress made most of those cuts permanent but of course the top rate that had been brought down to thirty four percent was allowed to go back up to thirty nine point six percent so it's really a perversion by perversion test one that depends on the budget outlook when we get to those sunsets and we can really already game out that the presidential campaign of 2024 we'll have a large segment on tax cuts nicole k ding with the nonpartisan tax foundation says it's a budget strategy both parties use make the change now and hope of future congress.
"amy scott" Discussed on Marketplace All-in-One
"You saw some of the usual suspects pop up in the paradise papers this weekend the cayman islands spar baidoa's the british virgin islands to name just a couple but marketplace's amy scott explains being paradise is not a prerequisite for being a good place to stash proceeds think tax haven and you might imagine on trees and ocean breezes you probably don't picture delaware on the bottle on hanaro wyoming that cambridge university professor jason sharman says in those states you can buy a shell company online no questions asked far more easily than in the cayman islands whether it's legal depends on what you do with the money clark gas kalina's deputy director of the financial accountability and corporate transparency coalition the lawyers will tell you that by definition using the word avoidance aftertax means it's legal whereas using the word evasion means it's illegal so what's the difference gascoyne says shifting profits do of low or no tax country to avoid paying higher taxes at home is tax avoidance under us law as long as you keep the money offshore that's fine evasion would be if they were to say repatriate the money and pay it out to shareholders but not actually pay the taxes on george turner is with the tax justice network a research an advocacy group focused on tax havens and offshore finance he says sometimes the difference between avoidance and evasion is not so black and white you may be kind of a bang vary letter of the law above the spirit of the low end the revelations of the paradise papers may push officials to crack down on those gray area areas i'm amy scott for marketplace.
"amy scott" Discussed on KQED Radio
"Of law and public policy at nyu says that expires after five years it's a bit of the dayton switch because they're taking away a big benefit from now class families and allowing to expire one of the things that is replacing so under the house plans some credits collapse some deductions shrink are disappear who comes out ahead will depend allott on their individual circumstances where they live how many kids they have and of course how much they earned i'm amy scott for marketplace mm i really think we should be thinking about where our taxes go more than the money in our own pockets i don't mind paying my taxes but i mind what that many fun and i really care deeply about that bottom line is i like to pay less amid upset about let it matters a you know to pay forty percent of income is little crazy those catherine snyder in philadelphia also can wolf from new york coming up now there's a reason might evil in room failed are making our own lives and that's because no one else's doing fis drill baby drill yeah but not so fast first though let's do the numbers no no it's love 81 points today about threetenths percent twenty three thousand five sixty nasdaq off of point basically unchanged sixty seven fourteen the sp 500 also unchanged at twenty five and seventy nine with all the talk about tax changes a look at the tax industrial complex now the company's new in the calculating of the tax time at tax evasion our blood trickled out two and a half percent liberty tax moved into at a third percent into it company that makes thanks prevalent getting softer click up about a half percent today homebuilders' just god's slammed.
"amy scott" Discussed on Marketplace All-in-One
"The obama era ruled banned banks from forcing their customers into arbitration and we will get what that means for consumer disputes in just a second first of all there marketplace's amy scott and the cfpb is questionable mediumterm future days after the cfpb six birthday this summer senator elizabeth warren held a press conference she said the agency has returned nearly twelve billion dollars and refunds and restitution to consumers because it is working the republicans want to find every way they can to bring it down last night senate vote was a small step in that direction christopher peterson as a former adviser to cfpb director richard cordial a he says a bigger threat is a bill known as the financial choice act pending in the senate it takes away almost all of its powers to actually bring meaningful consumer protection enforcement many conservatives say the bureau has too much power it's run by a single director who can't easily be fired by the president and james copeland with the manhattan institute says it's funded by the federal reserve not congress i just think it needs to be constructed in in a real and logical way and not the sort of shadow state regulatory authority that's completely divorced from the democratic process that we have elections over edwards wind ski with the us public interest research group says it's one thing to chip away at the rules getting rid of the consumer bureau is a much tougher lift for them even if the bill fails core draze term expires next july president trump is expected to appoint someone friendlier to banking.
"amy scott" Discussed on Marketplace All-in-One
"Are likely to need some kind of mental health services once they get there anxiety and depression are the most common complaints of college students seeking care drinking and drug abuse continue to be problems on campus a lot of colleges are responding by beefing up their counselling services from the education desk at wypr marketplace's amy scott has that one hi everyone how you doing at the university of pennsylvania in philadelphia the few dozen incoming freshman are getting a tour of the counselling and psychological services center there's a large waiting area and fifty counseling rooms housed in a brick office building your campus meter kumar as associate director for outreach and prevention we really want to emphasize the fact that anyone can benefit from this twenty percent of undergrads at some point or another gum to us that's almost double the rate fifteen years ago says director bill alexander we have increased igf accordingly from ten or twelve steph to over thirty now we have a huge training program when everybody's here's a lot of people in a survey last year at the american college health association found that about twenty percent of college students have been diagnosed with depression at some point in their lives twice the rate when the survey started in two thousand mickey sharma is president of the american association for university and college counseling center directors he says in the past few years anxiety has overtaken depression as the top mental health concern this generation of students have grown up in a very fast pace society.